Document:

Employment Agreement, dated November 24, 2004, Raymond S. Kalouche.

 Exhibit 10.9 
 EMPLOYMENT AGREEMENT 
 THIS AGREEMENT is made and entered into as of November 24, 2004
between Mill Services Corporation (formerly known as Envirosource, Inc.), a Delaware corporation (the “Company”), and Raymond S. Kalouche (the “Employee”). 
 RECITALS 
 WHEREAS, upon the Effective Date, pursuant to an Agreement and Plan of
Merger dated as of September 23, 2004, all of the outstanding shares of capital stock of the Company were acquired on October 26, 2004 by Envirosource Holdings LLC, a Delaware limited liability company, the majority of whose membership
interests are held by Wellspring Capital Partners III, L.P., a New York limited partnership (“Wellspring”); 
 WHEREAS, the
Employee is currently employed by the Company as its President and Chief Executive Officer pursuant to the terms of an employment agreement dated as of May 24, 2004 (the “Current Employment Agreement”); 
 WHEREAS, the Company has entered into a Unit Purchase Agreement dated November 19, 2004 (the “Unit Purchase Agreement”) to acquire all of
the outstanding membership units of Tube City Holdings, LLC (“Tube City”); 
 WHEREAS, the parties desire to enter into this
Agreement to supersede, upon the closing date of the acquisition of Tube City pursuant to the Unit Purchase Agreement (the “Effective Date”), the Current Employment Agreement and reflect the Employee’s terms and conditions of
employment on and after the Effective Date; and 
 NOW, THEREFORE, for and in consideration of the mutual promises, covenants and obligations
contained herein, and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Company and the Employee hereby agree as follows: 
 1. Employment and Term. 
 1.1 The Company shall employ the Employee, and the Employee shall accept
such employment by the Company and to serve as the President and Chief Operating Officer of International Mill Service, Inc. (“IMS”), the Company’s wholly-owned operating subsidiary, and as the President and Chief Operating Officer of
Olympic Mill Services (“OMS”), a division of Tube City, and in such additional senior executive positions with the Company or its subsidiaries as shall be determined by the Company’s board of directors (the “Board of
Directors”). In addition, the Company shall appoint the Employee, and the Employee shall serve, as a member of the Board of Directors. The Employee shall report directly to the Company’s Chief Executive Officer and indirectly to the Board,
and/or any of their designees. The authority, duties and responsibilities of the Employee shall include those described in this Agreement, and such other or additional duties of an executive nature as may from time to time be assigned to the
Employee by the Board of Directors, the Company’s Chief Executive Officer or their designees consistent with his positions as set forth above. While employed hereunder, the Employee shall devote 

 substantially all of his business time and attention to the affairs of IMS, the Company and its Affiliates and use all
commercially reasonable efforts to perform faithfully and efficiently his duties and responsibilities; provided that the Employee may (i) serve on civic or charitable boards or committees, (ii) manage personal investments, or
(iii) with the prior approval of the Board of Directors or the Company’s Chief Executive Officer, serve on corporate boards and committees (other than boards and committees of competitors of the Company or its Affiliates), so long as such
activities do not significantly interfere with the performance of the Employee’s obligations under this Agreement. 
 1.2 Unless sooner
terminated pursuant to other provisions hereof, the Employee’s period of employment under this Agreement shall commence as of the Effective Date and terminate on December 31, 2008 (the period from the Effective Date to December 31,
2008 is referred to as the “Term”, and the portion of the Term during which the Employee is employed by the Company or its Affiliates is referred to as the “Employment Period”). The Company may extend the Term in minimum one year
increments on terms no less favorable to the Employee than those then in effect pursuant to this Agreement, with the consent of the Employee, by giving written notice to the Employee at least 60 days prior to the end of the then effective Term. If
the Employee gives written notice of his consent to the Company within 20 days following receipt of the Company’s notice of its intention to extend the Term, the Term shall be extended on the terms in effect as of the renewal date, provided
that the Base Salary shall be increased by the C.P.I.-Urban Consumers for the Northeast Region during the 12 months immediately preceding the renewal date. 
 1.3 This Agreement shall supersede and replace the Current Employment Agreement, which shall be of no further force or effect as of the Effective Date. In the event the closing of the transactions contemplated by the
Unit Purchase Agreement have not then occurred, this Agreement shall terminate upon the termination of the Unit Purchase Agreement and the Current Employment Agreement shall remain in full force and effect in accordance with its terms. 

2. Compensation and Benefits. 
 2.1 Base
Salary. As initial compensation for his services provided hereunder, the Company shall pay to the Employee an initial annual base salary equal to $420,000 (the “Base Salary”). The Board of Directors or, if formed, a designated
Compensation Committee of the Board of Directors (the “Compensation Committee”) shall annually during the term of this Agreement review the Employee’s Base Salary and, in its discretion if deemed appropriate, increase the same. If the
Employee’s Base Salary is increased, it shall not thereafter be reduced below the new Base Salary level. The Base Salary shall be payable in equal semi-monthly installments or in accordance with the Company’s established policy, subject to
such payroll and withholding deductions as may be required by law and other deductions, as directed by the Employee, applied generally to employees of the Company for insurance and other employee benefit plans. 
 2.2 Bonus. In addition to the Base Salary, the Employee shall be eligible for a bonus in respect of each fiscal year that ends during the
Employment Period, starting with the 2005 fiscal year up to 100% of the Base Salary paid in such year. The actual amount of such bonus, if any, shall be based upon the Company’s and/or IMS’ and OMS’ performance relative to budget

  

 2 

 and at the sole discretion of the Board of Directors or Compensation Committee; provided, however, that the
bonus for the 2005 fiscal year shall be not less than 50% of the Employee’s Base Salary; provided, further, that the bonus for the 2004 fiscal year shall be not less than what would have been paid pursuant to Section 2.2 of
the Current Employment Agreement. 
 2.3 Incentive, Savings and Retirement Plans. The Employee shall be eligible to participate in and
shall receive all benefits under all executive incentive, savings and retirement plans and programs maintained by the Company or IMS for the benefit of its executive officers and/or employees. 
 2.4 Stock Option. Effective immediately following the closing of the transactions contemplated in the Unit Purchase Agreement, the Employee shall
be granted an option to purchase shares of common stock of the Company representing 1.25% of the common shares of the Company then outstanding, on a fully-diluted basis. The terms and conditions of the stock option will be set forth in a stock
option agreement based on the term sheet attached. 
 2.5 Other Benefit Plans. The Employee and/or the Employee’s dependents, as
the case may be, shall be eligible to participate in and shall receive all benefits under each insurance and other benefit plan of the Company or IMS maintained for the benefit of its employees, including vacation. 
 2.6 Reimbursement of Expenses. Subject to the Company’s policy regarding the reimbursement of reasonable travel and business expenses as in
effect from time to time during the Employment Period, the Company shall reimburse the Employee for such expenses from time to time, at the Employee’s request upon presentation of expense statements and such other supporting information as the
Company may customarily require of it executives. 
 3. Termination. 
 3.1 Death. This Agreement shall terminate automatically upon the death of the Employee. Notwithstanding the termination of this Agreement by virtue
of the death of the Employee, his estate shall be paid (i) the bonus earned in the prior fiscal year and accrued but not yet paid, and (ii) a payment equal to any bonus with respect to the fiscal year in which death occurs that the
Employee otherwise would have received pursuant to Section 2.2 had his employment not terminated, prorated for the portion of such fiscal year actually worked, and paid at the time bonuses with respect to such fiscal year, if any, are paid to
other employees, but no later than February 15th of the following fiscal year. 
 3.2 Disability. The Company may terminate this
Agreement, upon written notice to the Employee delivered in accordance with Sections 3.7 and 9.2 hereof, upon the Disability of the Employee. 
 3.3 Cause. The Company may terminate this Agreement for Cause, upon written notice to the Employee delivered in accordance with Sections 3.7 and 9.2 hereof. For purposes of this Agreement, “Cause” means (a) the
conviction of, or plea of guilty or nolo contendere by, the Employee of a felony or other serious crime, (b) the Employee’s grossly negligent or willful refusal to perform his duties and responsibilities as contemplated in this
Agreement, but only after Employee has received written notice from the Company setting forth with particularity 
  

 3 

 Employee’s performance deficiency and Employee has failed to cure such deficiency to the Company’s reasonable
satisfaction within 30 days of receipt of such notice, (c) the Employee’s engaging in activities which would constitute a breach of any term of this Agreement, but only after Employee has received written notice from the Company setting
forth with particularity Employee’s breach and Employee has failed to cure such breach to the Company’s reasonable satisfaction within 30 days of receipt of such notice, or (d) the Employee’s engaging in fraud or other illegal
conduct to the material detriment of the Company or its Affiliates. 
 3.4 Without Cause. The Company may terminate this Agreement
Without Cause, upon written notice to the Employee delivered in accordance with Sections 3.7 and 9.2 hereof. For purposes of this Agreement, the Employee will be deemed to have been terminated “Without Cause” if the Employee is terminated
by the Company for any reason other than Cause, death or non-renewal. 
 3.5 Termination by Employee. (a) The Employee may
terminate this Agreement, upon at least 60 days prior written notice to the Company in accordance with Sections 3.7 and 9.2 hereof. 
 (b) If
such notice is delivered within six months following a Change in Control, then the Company shall pay to the Employee the amounts set forth in Sections 4.3 hereof if: 
 (i) the Employee has not been offered a position similar to his position at the time of the Change in Control with similar responsibilities and equal or greater compensation than he was being paid at the time of the
Change in Control; or 
 (ii) the Employee has been asked to move his principal office beyond 35 miles from the Employee’s then-current
principal office location; or 
 (iii) the successor to the Company or the purchaser of its assets has not, by agreement or operation of law,
assumed the obligations of the Company under this Agreement at the time of the Change in Control. 
 (c) If such notice is delivered with
Good Reason, then the Company shall pay to the Employee the amounts set forth in Section 4.2 hereof. 
 3.6 Release. If the
Employee’s employment shall terminate during the Employment Period, or if the Company does not propose to extend the Term pursuant to Section 1.2 hereof, the Employee agrees that payments of amounts due under Sections 4.2 or 4.3, if
applicable, are conditional upon the execution and non-revocation a release of claims in the form attached hereto as Exhibit A, provided that the Employee shall not be required to execute such release as a condition to receiving the amounts
due under Section 4.2 or 4.3 unless the Company provides the Executive an executed release in the form attached as Exhibit B. 
 3.7 Notice of Termination. Any termination of this Agreement (i) by the Company for Cause, Without Cause or as a result of the Employee’s Disability or (ii) by the Employee for any reason, shall be communicated by
Notice of Termination to the other party hereto given in 
  

 4 

 accordance with this Agreement. For purposes of this Agreement, a “Notice of Termination” means a written
notice which (a) indicates the specific termination provision in this Agreement relied upon, (b) sets forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of the Employee’s employment under
the provision so indicated and (c) specifies the termination date, if such date is other than the date of receipt of such notice. 
 4. Obligations of Company upon Termination. 
 4.1 By the Company for Cause, by Employee other than
in connection with a Change in Control or for Good Reason, or at the end of the Term where the Employee does not consent to extension of the Term. If this Agreement and the Employee’s employment shall be terminated either by the Company for
Cause or by the Employee for any reason other than pursuant to Sections 3.5(b) or 3.5(c) hereof, or the Employee’s employment is terminated upon expiration of the Term after the Employee did not consent to the Company’s offer to extend the
Term pursuant to Section 1.2, the Company shall pay to the Employee, in a lump sum in cash within 30 days after the Date of Termination, the aggregate of the Employee’s Base Salary (as in effect on the Date of Termination) through the Date
of Termination, if not theretofore paid, and, in the case of compensation previously deferred by the Employee, all amounts of such compensation previously deferred, vested and not yet paid by the Company. In addition, if the Employee’s
employment is terminated upon expiration of the Term after the Employee did not consent to the Company’s offer to extend the Term pursuant to Section 1.2, the Employee shall be eligible for the bonus for the year in which such termination
occurs in accordance with Section 2.2. 
 4.2 By the Company Without Cause, by the Employee for Good Reason, or upon expiration of
the Term where the Company does not offer to extend the Term. If this Agreement and the Employee’s employment shall be terminated by the Company Without Cause pursuant to Section 3.4, by the Employee pursuant to Section 3.5(c)
hereof, or the Employee’s employment is terminated upon expiration of the Term after the Company did not offer to extend the Term pursuant to Section 1.2: 
 (i) The Company shall pay to the Employee, in a lump sum in cash within 30 days after the Date of Termination, the sum of (A) the aggregate of the Employee’s Base Salary (as in effect on the Date of
Termination) through the Date of Termination, if not theretofore paid, the Employee’s bonus earned in the prior fiscal year and accrued but not yet paid, if any, and, in the case of compensation previously deferred by the Employee, all amounts
of such compensation previously deferred, vested and not yet paid by the Company, and (B) a severance payment equal to three times the Employee’s Base Salary (as in effect on the Date of Termination); and 
 (ii) at the Employee’s option, (x) for the 24-month period following the Date of Termination, the Employee and the Employee’s dependents
shall continue to be eligible to participate in the medical benefit plans and arrangements of the Company, on the same terms and conditions (including the amount of Employee’s required contributory premium payments) in effect for the Employee
and the Employee’s dependents immediately prior to the Date of Termination, or (y) the Employee shall receive a payment equal to $60,000 in lieu thereof to cover such costs; 
  

 5 

 (iii) the Company will provide the Employee with executive-level outplacement services through
Manchester Partners International or a comparable outplacement services company; provided however, that the Company shall not be required to spend more than $20,000 for such services; and 
 (iv) a payment equal to any bonus with respect to the fiscal year in which termination occurs that the Employee otherwise would have received pursuant to
Section 2.2 had his employment not been terminated, prorated for the portion of such fiscal year actually worked, and paid at the time bonuses with respect to such fiscal year, if any, are paid to other employees, but no later than
February 15th of the following fiscal year. 
 The Company’s obligations under this Section 4.2 shall terminate if the
Employee violates his obligations under Sections 6, 7 or 8 hereof, and the Company shall have no obligation to make any remaining payments to the Employee after the date of any such violation. The parties agree that the payments and benefits
provided in this Section 4.2 are the sole and exclusive remedies available to the Employee in the event of termination pursuant to Sections 3.4 or 3.5(c) or upon expiration of the Term, and no other severance benefits shall be payable in
respect of such termination. 
 4.3 By Employee upon Change in Control. If this Agreement shall be terminated by the Employee pursuant
to Section 3.5(b) hereof: 
 (i) The Company shall pay to the Employee, in a lump sum in cash within 30 days after the Date of
Termination, the sum of (A) the aggregate of the Employee’s Base Salary (as in effect on the Date of Termination) through the Date of Termination, if not theretofore paid, the Employee’s bonus earned in the prior fiscal year and
accrued but not yet paid, if any, and, in the case of compensation previously deferred by the Employee, all amounts of such compensation previously deferred, vested and not yet paid by the Company, and (B) a severance payment equal to three
times the Employee’s Base Salary (as in effect on the Date of Termination); and 
 (ii) at the Employee’s option, (x) for the
24-month period following the Date of Termination, the Employee and the Employee’s dependents shall continue to be eligible to participate in the medical benefit plans and arrangements of the Company, on the same terms and conditions (including
the amount of Employee’s required contributory premium payments) in effect for the Employee and the Employee’s dependents immediately prior to the Date of Termination, or (y) the Employee shall receive a payment equal to $60,000 in
lieu thereof to cover such costs; 
  

 6 

 (iii) the Company will provide the Employee with executive-level outplacement services through
Manchester Partners International or a comparable outplacement services company; provided however, that the Company shall not be required to spend more than $20,000 for such services; and 
 (iv) a payment equal to any bonus with respect to the fiscal year in which termination occurs that the Employee otherwise would have received pursuant to
Section 2.2 had his employment not been terminated, prorated for the portion of such fiscal year actually worked, and paid at the time bonuses with respect to such fiscal year, if any, are paid to other employees. 
 The Company’s obligations under this Section 4.3 shall terminate if the Employee violates his obligations under Sections 6,7 or 8 hereof, and
the Company shall have no obligation to make any remaining payments to the Employee after the date of any such violation. The parties agree that the payments and benefits provided in this Section 4.3 are the sole and exclusive remedies
available to the Employee in the event of termination pursuant to Section 3.5(b) or upon expiration of the Term, and no other severance benefits shall be payable in respect of such termination. 
 5. General Duties of the Employee. 
 5.1 The Employee
agrees and acknowledges that he owes a duty of loyalty, fidelity and allegiance to act at all times in the best interests of the Company, to not knowingly become involved in a conflict of interest and to not knowingly do any act or knowingly make
any statement, oral or written, which would injure the Company’s business, its interests or its reputation unless required to do so in any legal proceeding by a competent court with proper jurisdiction. 
 5.2 The Employee agrees to comply at all times during the Employment Period with all applicable policies, rules and regulations of the Company.

 6. Employee’s Confidentiality Obligation. 
 6.1 The Employee hereby acknowledges, understands and agrees that all Confidential Information is the exclusive and confidential property of the Company and its Affiliates which shall at all times be regarded, treated and protected as such
in accordance with this Section 6. The Employee acknowledges that all such Confidential Information is in the nature of a trade secret. 
 6.2 For purposes of this Agreement, “Confidential Information” means information, which is used in the business of the Company or its Affiliates and (a) is proprietary to, about or created by the Company or its Affiliates,
(b) gives the Company or its Affiliates some competitive business advantage or the opportunity of obtaining such advantage or the disclosure of which could be detrimental to the interests of the Company or its Affiliates, (c) is designated
as Confidential Information by the Company or its Affiliates, is known by the Employee to be 
  

 7 

 considered confidential by the Company or its Affiliates, or from all the relevant circumstances should reasonably be
assumed by the Employee to be confidential and proprietary to the Company or its Affiliates or (d) is not generally known by non-Company personnel. 
 6.3 As a consequence of the Employee’s acquisition or anticipated acquisition of Confidential Information, the Employee shall occupy a position of trust and confidence with respect to the affairs and business of
the Company and its Affiliates. In view of the foregoing and of the consideration to be provided to the Employee, the Employee agrees that it is reasonable and necessary that the Employee make each of the following covenants: 
 (a) At any time during the Employment Period and thereafter, the Employee shall not disclose Confidential Information to any person or entity, either
inside or outside of the Company, other than as necessary in carrying out his duties and responsibilities as set forth in Section 5 hereof, without first obtaining the Company’s prior written consent (unless such disclosure is compelled
pursuant to court orders or subpoena, and at which time the Employee shall give notice of such proceedings to the Company and provide the Company with an opportunity to resolve such disclosure in a manner reasonably acceptable to the Company).

 (b) At any time during the Employment Period and thereafter, the Employee shall not use, copy or transfer Confidential Information other
than as necessary in carrying out his duties and responsibilities as set forth in Section 5 hereof, without first obtaining the Company’s prior written consent. 
 (c) On the Date of Termination, the Employee shall promptly deliver to the Company (or its designee) all written materials, records and documents made by the Employee or which came into his possession prior to or
during the Employment Period concerning the business or affairs of the Company or its Affiliates, including, without limitation, all materials containing Confidential Information. 
 7. Employee’s Nonsolicitation Obligation. The Employee agrees that he shall not, during the Employment Period and for eighteen months following the Date of Termination, directly or indirectly, on behalf of
the Employee or any other person, (i) solicit, assist in, or otherwise cause or facilitate the employment by other than the Company any person known by the Employee to be employed by the Company or its Affiliates at the Date of Termination or
within the six-month period prior thereto; or (ii) induce, attempt to induce or knowingly encourage any Customer (as defined below) to divert any business or income from the Company or any of its Affiliates or to stop or alter the manner in
which they are then doing business with the Company or any of its Affiliates. The term “Customer” shall mean any individual or business firm that was or is a customer or client of, or whose business was actively solicited by, the Company
or any of its Affiliates at any time, regardless of whether such customer was generated, in whole or in part, by the Employee’s efforts. 
 8.
Employee’s Noncompetition Obligation. The Employee agrees that he shall not, during the Employment Period and for a period of eighteen months following the Date of Termination (twelve months following the Date of Termination if such
termination is under the circumstances described in Section 4.1), directly or indirectly: (a) own or control any debt, equity or other interest in (except as a passive investor of less than 1% of the capital stock or publicly traded

  

 8 

 notes or debentures of a publicly held company), or (b) (1) act as a director, officer, manager, employee,
participant or consultant to or accept or solicit any office to act as any of the foregoing or (2) be obligated to or connected in any advisory, business or ownership capacity, in each case with respect to any entity engaged in slag processing
services, metal recovery services, slab surface conditioning services, scrap yard management services, slab or billet cutting services, or slab hauling services. Notwithstanding the foregoing, if the Company is obligated to make payments to the
Employee under Section 4, the Employee’s obligations under this Section 8 shall terminate immediately if the Company fails to timely perform its obligations under Section 4. The Employee’s noncompetition obligation as set
forth in this Section 8 shall supercede and replace any noncompetition agreement the Employee may have entered into with the Company or any of its subsidiaries prior to the date of this Agreement. 
 9. Miscellaneous. 
 9.1 Certain Definitions. As
used in this Agreement, the following terms have the meanings set forth below: 
 “Affiliate” is used in this Agreement to define a
relationship to a person or entity and means a person or entity who, directly or indirectly through one or more intermediaries, controls, is controlled by, or is under common control with, such person or entity. 
 “Base Salary” shall have the meaning assigned thereto in Section 2.1 hereof. 
 “Cause” shall have the meaning assigned thereto in Section 3.3 hereof. 
 “Change in Control” means the first to occur of (i) the acquisition by any “Person” (as such term is defined in
Section 3(a)(9) of the Securities Exchange Act of 1934 (the “Exchange Act”) and as used in Sections 13(d)(3) and 14(d)(2) of the Exchange Act) or group of Persons other than Wellspring or its affiliates of more than 50% of the
combined voting power of the then outstanding securities of the Company or of IMS entitled to vote generally in the election of directors of the Company or IMS, respectively, or (ii) any merger, consolidation, reorganization, recapitalization,
tender or exchange offer or any other transaction with or effecting the Company or IMS as a result of which a Person other than the stockholders of the Company or IMS immediately prior to such transaction owns after such transaction more than 50% of
the combined voting power of the then outstanding securities of the Company or of IMS entitled to vote generally in the election of directors of the Company or IMS, respectively, or (iii) the sale, lease, exchange, transfer or other disposition
to any Person other than Wellspring or its affiliates of all or substantially all, of the assets of the Company and its consolidated subsidiaries or of IMS and its consolidated subsidiaries. 
 “Confidential Information” shall have the meaning assigned thereto in Section 6.2 
 “Customer” shall have the meaning assigned thereto in Section 7 hereof. 
 “Date of Termination” means the earliest to occur of (a) the date of the Employee’s death, (b) the date on which the Employee
terminates his employment with the Company for any reason or (c) the date of receipt of the Notice of Termination, or such later date as may be prescribed in the Notice of Termination in accordance with Section 3.7 hereof. 
  

 9 

 “Disability” means an illness or other disability which prevents the Employee from discharging
his responsibilities under this Agreement for a period 180 consecutive calendar days, or an aggregate of 180 calendar days in any calendar year, during the Employment Period, all as determined in good faith by the Board of Directors of the Company
(or a committee thereof). 
 “Employment Period” shall have the meaning assigned thereto in Section 1.2 hereof. 
 “Good Reason” shall exist upon either (i) the Employee’s demotion from the position of President and Chief Operating Officer of IMS
and OMS to an inferior position, or his removal from the Board of Directors or (ii) the reduction of the Employee’s authority, compensation, duties or responsibilities from those typically assigned to President and Chief Operating Officer
of IMS and OMS. 
 “Notice of Termination” shall have the meaning assigned thereto in Section 3.7 hereof. 
 ‘Term” shall have the meaning assigned thereto in Section 1.2 hereof. 
 “Without Cause” shall have the meaning assigned thereto in Section 3.4 hereof. 
 9.2 Notices. All notices and other communications required or permitted hereunder or necessary or convenient in connection herewith shall be in
writing and, if given by telegram, telecopy or telex, shall be deemed to have been validly served, given or delivered when sent, if given by personal delivery, shall be deemed to have been validly served, given or delivered upon actual delivery and,
if mailed, shall be deemed to have been validly served, given or delivered three business days after deposit in the United States mail, as registered or certified mail, with proper postage prepaid and addressed to the party or parties to be
notified, at the following addresses: 
 If to the Company to: 
 Mill Services Corporation 
 c/o Wellspring Capital Partners III, L.P. 
 Lever House 
 390 Park Avenue 
 New York, New York 10022-4608 
 Attn: William F. Dawson, Jr. 
           Partner 
 Facsimile: (212)318-9810 
  

 10 

 With a copy to: 
 Morgan, Lewis & Bockius LLP 
 101 Park Avenue 
 New York, New York 10178 
 Attn: David W.Pollak, Esq. 
 Facsimile: (212) 309-6001 
 Telephone: (212) 309-6058 
 If to the Employee to: 
 Raymond S. Kalouche 
 4845 Mead Drive 
 Doylestown, PA 18901 
 Telephone: (215) 230-7173 
 With a copy to: 
 Michael S. Mullman, Esq. 
 Blank Rome LLP 
 The Chrysler Building 
 405 Lexington Avenue 
 New York, New York 10174 
 Telephone: (212)885-5517 
 Facsimile: (212) 885-5001 
 or to such
other names, addresses, telephone and fax numbers as the Company or the Employee, as the case may be, shall designate by notice to the other party hereto in the manner specified in this Section 9.2. 
 9.3 Waiver of Breach. The waiver by any party hereto of a breach of any provision of this Agreement shall neither operate nor be construed as a
waiver of the breach of any other provision or of any subsequent breach by any party. 
 9.4 Withholding. The Company or its
Affiliates shall have the right to withhold from any amount payable to the Employee hereunder an amount necessary in order for the Company or its Affiliates to satisfy any withholding tax obligation it may have under applicable law. 
 9.5 Assignment. This Agreement shall be binding upon and inure to the benefit of the Company, its successors, legal representatives and assigns,
and upon the Employee, his heirs, executors, administrators, representatives and assigns; provided, however, that the Employee agrees that his rights and obligations hereunder are personal to him and may not be assigned without the
express written consent of the Company. 
 9.6 Entire Agreement; No Oral Amendments. This Agreement constitutes the entire agreement
between the Employee and the Company with respect to the subject matter of this Agreement. The Employee acknowledges that there are no outstanding amounts owing to the Employee by the Company or its Affiliates in respect of the Employee’s
employment prior to the date hereof, other than salary accrued and unpaid since the last regular payroll date, amounts accrued but unpaid under any Company benefit plan, and other amounts owing under the Current 
  

 11 

 Employment Agreement (including any 2004 bonus payable pursuant to Section 2.2 of this Agreement). This Agreement
may not be modified in any respect by any oral statement, representation or agreement made by any employee, officer, or representative of the Company or by any written agreement unless signed by an officer of the Company who is expressly authorized
by the Company to execute such document. 
 9.7 Enforceability. If any provision of this Agreement or application thereof to anyone or
under any circumstances shall be determined to be invalid or unenforceable, such invalidity or unenforceability shall not affect any other provisions or applications of this Agreement which can be given effect without the invalid or unenforceable
provision or application. 
 9.8 Jurisdiction. The laws of the Commonwealth of Pennsylvania shall govern the interpretation, validity
and effect of this Agreement without regard to the place of execution or the place for performance thereof. 
 9.9 Injunctive Relief.
The Company and the Employee agree that a breach of any term of this Agreement by the Employee would cause irreparable damage to the Company and that, in the event of such breach, the Company shall have, in addition to any and all remedies of law,
the right to any injunction, specific performance and other equitable relief to prevent or to redress the violation of the Employee’s duties or responsibilities hereunder. 
 9.10 Employee’s Representation. Employee shall be, and he represents that he is, free to enter into this Agreement and is not and will not
become to a party to agreement which would prohibit the Employee from accepting employment with the Company or from performing his duties and obligations to the Company hereunder. 
 9.11 Counterparts. This Agreement may be executed in two or more counterparts, each of which shall be deemed an original and both of which
together shall be deemed one Agreement. 
  

 12 

 IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first above written.

  

			
	“COMPANY”
	
	MILL SERVICES CORPORATION
		
	By:	 	 /s/ Carl M. Stanton
  

		
	Its:	 	  

	
	“EMPLOYEE:
	
	 /s/ Raymond S. Kalouche

	Raymond S. Kalouche

  

 13 

 Exhibit A 
 GENERAL RELEASE BY EMPLOYEE 
 1. I, Raymond S. Kalouche, for and in consideration of the mutual
releases and other benefits to be received by me pursuant to the provisions of that certain Employment Agreement by and between me and Mill Services Corporation (the “Company”) entered into as of October 26, 2004 (the
“Agreement”), and in connection with the termination of my employment with the Company and its affiliates effective
                    , do hereby REMISE, RELEASE, AND FOREVER DISCHARGE the Company and its subsidiaries and affiliates, their officers,
directors, shareholders, partners, employees and agents, their respective successors predecessors and assigns, heirs, executors and administrators (hereinafter collectively referred to as the “Releasees”), acting in any capacity
whatsoever, of and from any and all manner of actions and causes of actions, suits, debts, claims and demands whatsoever in law or in equity, which I ever had, now have, or hereafter may have, or which my heirs, executors or administrators hereafter
may have, by reason of any matter, cause or thing whatsoever from the beginning of my employment with the Company or the Releasees to the date of these presents and particularly, but without limitation of the foregoing general terms, any claims
arising from or relating in any way to my status as a stockholder of the Company, if applicable, and my employment relationship and the termination of my employment relationship with the Company or the Releasees, including but not limited to, any
claims which have been asserted, could have been asserted, or could be asserted now or in the future under any federal, state or local laws, including any claims under the Age Discrimination in Employment Act, 29 U.S.C., 621 et seg.,
Title VII of the Civil Rights Act of 1964, 42 U.S.C. 2000e et seq., the Pennsylvania Human Relations Act, 43 P.S. 951 et seq., or the human relations laws of any other State any contracts between the Company and the
Releasees and me and any common law claims now or hereafter recognized and all claims for counsel fees and costs. Notwithstanding the foregoing, I do not release any right I may have to participate in any action brought by stockholders of the
Company in their capacity as such, provided that I agree that I shall not instigate or otherwise encourage any such action. 
 2. I agree,
covenant and promise that I will not in any way communicate the terms of this General Release to any person other than my immediate family and my attorney. 
 3. I hereby certify that I have read the terms of this General Release, that I have been advised by the Company to discuss it with my attorney, and that I understand its terms and effects. I acknowledge, further, that
I am executing this General Release of my own volition with a full understanding of its terms and effects and with the intention of releasing all claims recited herein in exchange for the consideration described in the Agreement, which I acknowledge
is adequate and satisfactory to me. None of the above-named parties, nor their agents, representatives, or attorneys have made any representations to me concerning the terms or effects of this General Release other than those contained herein.

 4. I hereby acknowledge that I have been informed that I have the right to consider this General Release for a period of 21 days prior to
execution. I also understand that I have the right to revoke this General Release for a period of seven days following execution by giving written notice to the Company in the manner specified in Section 9.2 of the Agreement. 

 Intending to be legally bound hereby, I execute the foregoing General Release this
             day of                     ,
        . 
  

			
	Witness	  	  

		  	Raymond S. Kalouche

  

 2 

 Exhibit B 
 GENERAL RELEASE BY COMPANY 
 1. For and in consideration of the mutual releases and other
consideration to be received by Mill Services Corporation (the “Company”) pursuant to the provisions of that certain Employment Agreement by and between Raymond S. Kalouche (the “Executive”) and the Company made and entered into
as of November     , 2004 (the “Agreement”), and in connection with the termination of the Executive’s employment with the Company and its affiliates effective
                    , the Company and its subsidiaries and affiliates, their officers, directors, shareholders, partners, employees and
agents, their respective successors, predecessors and assigns, heirs, executors and administrators (hereinafter collectively referred to as the “Company Releases”) do hereby REMISE, RELEASE, AND FOREVER DISCHARGE the Executive, his heirs,
assigns, attorneys, representatives, insurers, family, executors, administrators, trustees, accountants, and other agents and representatives of any kind, if any, of and from any and all manner of actions and causes of actions, suits, debts, claims
and demands whatsoever in law or in equity, which the Company ever had, now has, or hereafter may have, or which the Company’s successors, predecessors and assigns hereafter may have, by reason of any matter, cause or thing whatsoever from the
beginning of the Executive’s employment with the Company or the Company’s Releases to the date of these presents (the “Company Claims”). 
 2. This release is intended to be a general release of all Company Claims, provided however, that notwithstanding anything in this General Release to the contrary, nothing in this General Release shall be construed as
releasing Executive from any Company Claim attributable to Executive’s commission of a crime involving theft or fraud against the Company or the Releases. 
 Intending to be legally bound hereby, the Company executes the foregoing General Release this              day of
                    ,         . 
  

					
		 	MILL SERVICES CORPORATION
			
	Witness	 	by:Employment Agreement, dated December 21, 2004, J. David Aronson.

 Exhibit 10.10 
 EXECUTION COPY 
 EMPLOYMENT AGREEMENT 
 This EMPLOYMENT AGREEMENT (this “Agreement”) is made as of December 21, 2004, between Mill Services Corporation, a Delaware
corporation (“Company”) and J. David Aronson (“Executive”). Any capitalized terms used herein and not otherwise defined shall have the meanings assigned to them in Section 4A hereof. 
 WHEREAS, Executive is currently employed as the Senior Vice President Trading of Tube City, LLC (“Tube City”), pursuant to the terms of
an executive securities agreement dated as of September 11, 2003 (the “Current Agreement”); 
 WHEREAS, upon the
closing of the transactions (the “Closing”) described in a Unit Purchase Agreement dated as of November 18, 2004 (the “Unit Purchase Agreement”), all of the outstanding membership units of Tube City Holdings,
LLC (“Tube City Holdings”), the parent of Tube City, will be acquired by the Company, currently a wholly-owned subsidiary of Wellspring Capital Partners III, L.P., a New York limited partnership (“Wellspring”); and

 WHEREAS, upon the Closing, the Company desires that Executive serve as the Executive Vice President Outsource Purchasing of Tube City, on
the terms and subject to the conditions set forth herein. 
 NOW THEREFORE, in consideration of the mutual promises made herein and other
good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged the Company and Executive hereby agree as follows: 
 Section 1. Grant of Stock Option. Effective as of the Closing, Executive will be granted an option to purchase shares of common stock of the Company (the “Option”). The Option will be granted pursuant to the
Company’s Stock Option Plan and on terms and conditions to be set forth in a grant letter, which shall be in substantially the form attached. 
 Section 2. Terms and Conditions of Employment Between the Company and Executive. 
 2A. Employment; Duties.

 (a) The Company shall employ Executive, and Executive hereby accepts employment with the Company, upon the terms and conditions set forth
in this Agreement for the period beginning on the Closing and ending as provided in Section 2D hereof (the “Employment Period”). 
 (b) During the Employment Period Executive shall report to the Chief Executive Officer of the Company (which, as of the Closing will own all of the business and assets of International Mill Service, Inc. and Tube City
Holdings), and shall initially serve as the Executive Vice President Outsource Purchasing of Tube City or in such other senior managerial capacities of Tube City, the Company or its subsidiaries as requested by the Chief Executive Officer.

 (c) During the Employment Period, Executive shall devote his full business time and attention to the
business and affairs of the Company and its subsidiaries. So long as Executive is employed by the Company, Executive shall not, without the prior written consent of the Board, accept other employment, or perform other services for compensation.

 (d) The Company and the Executive agree that Executive’s primary office shall be at the Company’s place of business in
Glassport, Pennsylvania, subject to reasonable travel requirements. 
 2B. Base Salary and Benefits. 
 (a) During the Employment Period, the Company shall pay Executive an annual base salary of $450,000 (the “Base Salary”). The Base Salary
shall be payable in regular installments in accordance with the Company’s general payroll practices (as in effect from time to time). 
 (b) In addition to the Base Salary, during the Employment Period, Executive will be eligible to earn an annual bonus under a bonus plan to be established by the Company, payable in accordance with the Company’s customary practices, as
determined by the Board in its sole discretion based upon the Company’s achievement of budgetary and other objectives set by the Board; provided that, in determining the amount of the annual bonus, if any, to be paid to Executive, the
Board shall, in determining whether the Company has achieved the budgetary and other goals set by the Board, disregard any payments by the Company and its subsidiaries to Wellspring and affiliates. 
 (c) During the Employment Period, Executive shall be entitled to participate in all of the Company’s employee benefit programs for which senior
executives of the Company and its subsidiaries are generally eligible. 
 (d) During the Employment Period, the Company shall (without
duplication of any employee benefits provided to Executive pursuant to other provisions of this Agreement) reimburse Executive for all reasonable business expenses incurred by him in the course of performing his duties and responsibilities under
this Agreement which are consistent with the Company’s policies in effect from time to time with respect to travel, entertainment and other business expenses, subject to the Company’s requirements with respect to reporting and
documentation of such expenses. 
 (e) All amounts payable or otherwise provided to Executive pursuant to this Agreement shall be subject to
all applicable withholding and deduction obligations. 
 2C. Deferred Compensation. In addition to any other payments or benefits
under this Agreement, Executive shall be entitled to Normal Retirement Benefits or Early Retirement Benefits (as hereinafter defined) in accordance with the following: 
 (a) Normal Retirement Benefits. Subject to Section 2C(f) hereof, when Executive attains 65 years of age, or if later, upon separation of service, Executive shall be entitled to retire from the
Company and to receive retirement benefits of Forty Thousand Dollars ($40,000) annually (“Normal Retirement Benefits”), payable, commencing as of the first of the 
  

 2 

 month following the month in which normal retirement occurs, in equal monthly installments, for a period of ten
(10) years. Notwithstanding the forgoing, if Executive is deemed to be a “specified employee” as defined in Section 409A(a)(2)(B)(i) of the of the Internal Revenue Code and the regulations and guidance issued thereunder relating
to deferred compensation, then such Normal Retirement Benefits shall commence as of the first of the month after the sixth month following the date in which separation from service on account of the Executive’s normal retirement occurs.

 (b) Early Retirement Benefits. If the Executive separates from service from the Company at or after he attains age 55 and before he
attains age 65 and subject to Section 2C(f) hereof, Executive shall be entitled to receive retirement benefits of Twenty Thousand Dollars ($20,000) at age 55, plus Two Thousand Dollars ($2,000) for each full year of age attained
between ages 55 and 65 as determined at the date of early retirement to a maximum of Thirty Eight Thousand Dollars ($38,000) at age 64 (“Early Retirement Benefits”), the Early Retirement Benefits as so calculated to be payable
annually, commencing as of the first of the month following the month in which early retirement occurs, in equal monthly installments, for a period of ten (10) years. Notwithstanding the forgoing, if Executive is deemed to be a “specified
employee” as defined in Section 409A(a)(2)(B)(i) of the Internal Revenue Code and the regulations and guidance issued thereunder relating to deferred compensation, then such Early Retirement Benefits shall commence as of the first of the
month after the sixth month following date in which separation from service on account of the Executive’s normal retirement occurs. 
 (c) Vesting and Forfeiture of Normal Retirement Benefits or Early Retirement Benefits. Executive shall vest in his Normal Retirement Benefits and Early Retirement Benefits at the rate of ten percent (10%) per year of employment
as measured by the date Executive first became an employee of Tube City (or its predecessor, Tube City, Inc.). Executive shall forfeit any and all rights to receive any of the vested Normal Retirement Benefits or vested Early Retirement Benefits, as
the case may be, if his employment is terminated for any reason other than death or Disability prior to attaining age 55, or if, having attained age 55, he thereafter resigns other than for Good Reason, is terminated for Cause, or violates any of
the provisions of Section 3 of this Agreement. 
 (d) Payment of Normal Retirement Benefits in the Event of Disability.
Anything in this Section 2C to the contrary notwithstanding, in the event of the Executive’s Disability, the Executive shall be entitled to fully vested Normal Retirement Benefits, commencing as of the first of the month following
the month in which Disability occurs, subject to forfeiture of any unpaid Normal Retirement Benefits if he thereafter violates any of the provisions of Section 3C of this Agreement. 
 (e) Payment of Normal Retirement Benefits or Early Retirement Benefits in the Event of Death. If Executive dies having vested Normal Retirement
Benefits or Early Retirement Benefits, whether or not any such Normal Retirement Benefits or Early Retirement Benefits have been paid at the date of death, payment of the vested Normal Retirement Benefits or Early Retirement Benefits shall be paid
over ten years, commencing as of the first of the month following the month in which death occurs if death occurs during employment, or continued for the balance of the ten-year term in process if vested Normal Retirement Benefits or Early
Retirement Benefits are being currently paid at death, as the case may be, to the Executive’s designated beneficiary or beneficiaries or in default of such designation to the Executive’s estate. 
  

 3 

 (f) Adjustment in Normal Retirement Benefits and Early Retirement Benefits. Effective in the year
commencing January 1, 2005, Normal Retirement Benefits shall be increased to Forty Five Thousand Dollars ($45,000) annually; and early Retirement Benefits shall increase to Twenty Five Thousand Dollars ($25,000) annually at age 55, plus Two
Thousand Dollars ($2,000) for each full year of age attained between ages 55 and 65 at the date of early retirement to a maximum of Forty Three Thousand Dollars ($43,000) at age 64. Effective in the year commencing January 1, 2115, Normal
Retirement Benefits shall be increased to Fifty Thousand Dollars ($50,000) annually; and early Retirement Benefits shall increase to Thirty Thousand Dollars ($30,000) annually at age 55, plus Two Thousand Dollars ($2,000) for each full year of age
attained between ages 55 and 65 at the date of early retirement to a maximum of Forty Eight Thousand Dollars ($48,000) at age 64. Additionally, Normal Retirement Benefits and Early Retirement Benefits as provided for in this Section 2C
shall be further increased by the percentage to the extent, if any, in each year from and after calendar year 1995, the Consumer Price Index for December exceeds the Consumer Price Index for the preceding December by more than ten percent (10%).
“Consumer Price Index” shall mean the revised “Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) - United States. All items (1967 = 100)” published by the Bureau of Labor Statistics, U.S. Department
of Labor. 
 (g) All deferred compensation amounts payable or otherwise provided to Executive pursuant to this Section 2(C) shall
be effective only to the extent it complies with the requirements of Section 409A of the Internal Revenue Code and the regulations and guidance issued thereunder relating to deferred compensation, as promulgated from time to time
(“Section 409A”). In the event that this Section 2(C) does not conform to Section 409A, Executive agrees that the Company may take such reasonable actions as may be necessary to bring this Section 2(C)
into compliance with Section 409A, while at the same time providing Executive with substantially comparable economic benefits. 
 2D.
Term. 
 (a) The Employment Period shall begin on the Closing and end on the fifth anniversary of the Closing, and shall automatically
be extended at each anniversary of the Closing on the same terms and conditions set forth herein, as modified from time to time by the parties hereto, for one additional year, unless the Company or Executive gives the other party written notice of
election not to so extend the Employment Period at least 60 days prior to any such extension date; provided that (i) the Employment Period shall terminate prior to such date immediately upon the death or Disability of Executive,
(ii) the Employment Period may be terminated by the Company at any time prior to such date with or without Cause and (iii) the Employment Period may be terminated by Executive at any time prior to such date. 
 (b) If the Employment Period is terminated (i) by the Company without Cause, (ii) by Executive for Good Reason, or (iii) because the
Company elects not to renew the Employment Period and as a result Executive is no longer employed by the Company or its 
  

 4 

 subsidiaries on substantially the same terms as set forth herein, Executive shall be entitled to receive the Base Salary
through the date of termination plus the applicable Severance Payment. The “Severance Payment” shall be calculated as follows: in the event the Employment Period is terminated on or prior to the first anniversary of the
Closing, the Severance Payment shall be an amount equal to three (3) times the Base Salary; in the event the Employment Period is terminated after the first anniversary of the Closing, but prior to the fourth anniversary of the Closing, the
Severance Payment shall be an amount equal to two (2) times the Base Salary; and in the event the Employment Period is terminated at any time after the fourth anniversary of the Closing, or employment is terminated because the Company elects
not renew the Employment Period, the Severance Payment shall be an amount equal to the Base Salary. The Severance Payment shall be payable in equal monthly installments over a period of years equal to the multiplier used to determine the Severance
Payment (e.g., if the Severance Payment is equal to three (3) times the Base Salary, the Severance Payment shall be payable in equal monthly installments over three (3) years). In addition, during the period over which the Severance
Payment is made, Executive shall be entitled to continued health coverage on the same basis that such coverage was provided to Executive prior to the termination of the Employment Period, provided that coverage shall end earlier if and when
Executive becomes entitled to comparable coverage under another employer’s health plan. As a condition to the Company’s obligations to make the Severance Payments to Executive pursuant to this Section 2D(b), Executive must
(a) continue to comply with the restrictive covenants contained in Section 3, and (b) execute and deliver a general release agreement in form and substance satisfactory to the Company. 
 (c) If the Employment Period is terminated for any reason other than (i) by the Company without Cause, (ii) by Executive for Good Reason, or
(iii) because the Company elects not to renew the Employment Period and as a result Executive is no longer employed by the Company or its subsidiaries on substantially the same terms as set forth herein, Executive shall be entitled to receive
only the Base Salary through the date of termination. 
 (d) Except as otherwise provided herein, all of Executive’s rights to
compensation and benefits (including bonus compensation) which accrue or become payable after the termination of the Employment Period shall cease upon such termination, other than reimbursement pursuant to Section 2B(d). Notwithstanding the
foregoing, Executive’s continued rights with respect to outstanding awards, including the Option, under the Company’s equity compensation plans shall be determined in accordance with the terms of such plans and any related agreements, and
Executive’s continued rights under the terms of any compensation or benefit plans (including the Company’s vacation policy, tax-qualified and nonqualified plans, Bonus Plan and welfare plans) shall be determined under the terms of such
plans, or in the case of the Executive’s deferred compensation benefit, under the terms of Section 2(C) of this agreement. The Company may offset any amounts due and payable by Executive to the Company or its subsidiaries against
any amounts the Company owes Executive hereunder. 
 Section 3. Restrictive Covenants 
 3A. Confidential Information. Executive acknowledges that the information, observations and data obtained by him while providing services to the
Company and its subsidiaries concerning the business or affairs of the Company, any of its subsidiaries (“Confidential Information”) are the property of the Company or such subsidiary. Therefore, 
  

 5 

 Executive agrees that he shall not disclose to any unauthorized person or use for their own purposes any Confidential
Information without the prior written consent of the Board, unless and to the extent that the aforementioned matters are or become generally known to and available for use by the public other than as a result of Executive’s acts or omissions.
Executive shall deliver to the Company at the termination of the Employment Period, or at any other time the Company may request, all memoranda, notes, plans, records, reports, computer tapes, printouts and software and other documents and data (and
copies thereof) relating to the Confidential Information, Work Product (as defined below) or the business of the Company, any of its subsidiaries which he may then possess or have under his control. 
 3B. Inventions and Patents. Executive acknowledges that all inventions, innovations, improvements, developments, methods, designs, analyses,
drawings, reports and all similar or related information (whether or not patentable) which relate to the Company’s or any of its subsidiaries’ actual or anticipated business, research and development or existing or future products or
services and which are conceived, developed or made by Executive while providing services the Company, its subsidiaries (“Work Product”) belong to the Company or such subsidiary. Executive shall promptly disclose such Work Product
to the Board and perform all actions requested by the Board (whether during or after the Employment Period) to establish and confirm such ownership (including, without limitation, executing assignments, consents, powers of attorney and other
instruments). 
 3C. Non-Compete; Non-Solicitation. 
 (a) In further consideration of the compensation to be paid to Executive hereunder, Executive acknowledges that in the course of his employment with the Company he has and shall become familiar with the Company’s
and its subsidiaries’ trade secrets and with other Confidential Information and that his services shall be of special, unique and extraordinary value to the Company and its subsidiaries. Therefore, Executive has agreed that during the
Employment Period and continuing for the later of (i) 12 months after termination of the Employment Period and (ii) the period during which the Severance Payment, if any, is being paid pursuant to Section 2D(b) (the
“Noncompete Period”), to not directly or indirectly own any interest in, manage, control, participate in, consult with, advise, render services for, or in any manner engage in the business of owning, operating, managing, any
business that is competitive with the business which the Company or its subsidiaries conducts at the time the Employment Period is terminated. Nothing herein shall prohibit Executive from being a passive owner of not more than 2% of the outstanding
stock of any class of a corporation which is publicly traded, so long as Executive has no active participation in the business of such corporation. 
 (b) During the Employment Period and continuing for the later of (i) 24 months after termination of the Employment Period and (ii) the period during which the Severance Payment, if any, is being paid
pursuant to Section 2D(b) (the “Nonsolicitation Period”), Executive shall not directly or indirectly through another entity (i) induce or attempt to induce any employee of the Company or any of its
subsidiaries to leave the employ of the Company or such subsidiary, (ii) hire any person who was an employee of the Company or any of its subsidiaries at any time during the 12-month period preceding such hiring; or (iii) induce or attempt
to induce any material customer, supplier, licensee, licensor or other business relation of the Company, its subsidiaries to cease doing business with the Company or such subsidiary, other than in connection with ordinary course post-termination
competitive activities undertaken as permitted in Section 3C(a). 
  

 6 

 3D. Enforcement. If, at the time of enforcement of Sections 3A, 3B, or 3C of
this Agreement, a court holds that the restrictions stated herein are unreasonable under circumstances then existing, the parties hereto agree that the maximum period, scope or geographical area reasonable under such circumstances shall be
substituted for the stated period, scope or area. Because Executive’s services are unique and because he has access to Confidential Information and Work Product, the parties hereto agree that money damages would not be an adequate remedy for
any breach of this Agreement by Executive. Therefore, in the event a breach or threatened breach of this Agreement by Executive, the Company or its subsidiaries or their respective successors or assigns may, in addition to other rights and remedies
existing in their favor apply to any court of competent jurisdiction for specific performance and/or injunctive or other relief in order to enforce, or prevent any violations of, the provisions hereof. In addition, in the event of a violation by
Executive of Section 3C, the Noncompete Period and the Nonsolicitation Period shall be tolled, as applicable, until such breach or violation has been duly cured. Executive agrees that the restrictions contained in Section 3C
are reasonable. 
 3E. Certain Representations. Executive hereby represents and warrants to the Company that (i) the execution,
delivery and performance of this Agreement by him does not and will not conflict with, breach, violate or cause a default under any contract, agreement, instrument, order, judgment or decree to which he is a party or by which he is bound,
(ii) Executive is not a party to or bound by any employment agreement, noncompete agreement or confidentiality agreement with any other person or entity that results in any conflict with this Agreement, (iii) upon the execution and
delivery of this Agreement by the Company, this Agreement shall be the valid and binding obligation of Executive, enforceable in accordance with its terms, (iv) Executive does not own any interest in, manage, control, participate in, consult
with, render services for, or in any manner engage in any business other than the business of Tube City Holdings and its subsidiaries, except for owning interests in companies whose stock is publicly traded on an exchange or interests in an
investment fund or similar vehicle with respect to which Executive has no direct or indirect authority or influence over the investments thereof, and (v) upon the Closing assuming payment of all amounts due under the Current Agreement, no
amounts will be owing to Executive from the Company, Tube City or any of their predecessors, subsidiaries or affiliates in respect of Executive’s employment prior to the Closing, other than base salary accrued since the payroll date preceding
the Closing, accrued and unpaid bonus for the preceding fiscal year, accrued benefits due under the written terms of any Tube City or Tube City Holdings benefit plan or the Current Agreement, expenses incurred and payable in accordance with past
practice, payment in respect of the Executive’s equity interest in Tube City Holdings as provided in the Unit Purchase Agreement and related documents or the Current Agreement. Executive hereby acknowledges and represents that he has consulted
with independent legal counsel regarding his rights and obligations under this Agreement and that he fully understands the terms and conditions contained herein. In no event shall Executive be entitled to any payments, damages or other recoveries on
the termination of the Employment Period, other than as set forth in Section 2D of this Agreement. 
  

 7 

 3F. Other Businesses. Without limiting the generality of any other provision of this Agreement,
during the Employment Period, Executive hereby agrees that he will not, except with the express written consent of the Board, become engaged in, or render services for, any business other than the businesses of the Company and any of its
subsidiaries, affiliates or any corporation, partnership or other entity in which the Company or any of its subsidiaries or affiliates has an equity interest, or any business which Executive provides services to at the request of Wellspring.

 3G. Survival. This Section 3 (other than Section 3F) shall survive and continue in full force in accordance
with their terms notwithstanding any termination of the Employment Period. 
 3H. Termination of Existing Employment Agreements.
Subject to Section 4D(a), this Agreement embodies the complete agreement and understanding among the parties relating to the terms of Executive’s employment with the Company and/or any of its subsidiaries and affiliates and,
effective as of the Closing, supersedes and preempts any prior understandings, agreements or representations by or among the parties and any direct or indirect subsidiary or affiliate of the Company, Tube City (or any predecessor of Tube City, any
of their direct or indirect subsidiaries, or affiliates), written or oral, which may have related to the subject matter of this Agreement in any way, including, without limitation, the Current Agreement. 
 Section 4. Certain Definitions; Miscellaneous. 
 4A. Certain Definitions. 
 “Board” means the Board of Directors of the Company.

 “Cause” means any of the following by Executive: (i) the Executive’s commission of a felony or a crime
involving moral turpitude, or other material act or omission involving dishonesty or fraud, (ii) conduct that brings or is reasonably likely to bring the Company or any of its subsidiaries or affiliates into public disgrace or disrepute and
that the Company’s or any subsidiary’s or affiliate’s business in any material way, (iii) failure to perform duties as reasonably directed by the Company (which, if curable, is not cured within 10 days after notice thereof to
Executive by the Company), (iv) gross negligence, willful malfeasance or material act of disloyalty with respect to the Company or its subsidiaries or affiliates (which, if curable, is not cured within 10 days after notice thereof to Executive
by the Company), or (v) any material breach of this Agreement (which, if curable, is not cured within 10 days after notice thereof to Executive by the Board). 
 “Disability” means any physical or mental incapacitation which results in Executive’s inability to perform his duties and responsibilities hereunder, as determined by the Board in its good faith
judgment, for a consecutive period of 90 days or for a period of 120 days in any 360 day period. 
 “Good Reason” means
(i) a material default by the Company in the performance of its obligations under this Agreement which is not cured within 30 days after receipt of written notice from Executive describing the default in reasonable detail; (ii) relocation
of Executive 
  

 8 

 from his place of employment described in Section 2C(d) without Executive’s consent; (iii) a
material diminution in Executive’s duties or other material adverse change in his employment relationship unilaterally imposed by the Company (or its successor) within 18 months following a Change in Control (as defined in the Stock Option
Plan), after at least 30 days written notification provided by the Executive; or (iv) failure by the Company to secure in writing the agreement of any successor entity to the Company to assume the Agreement, including a successor to all or
substantially all of the assets of the Company. 
 4B. Notices. All notices, demands and other communications to be given or delivered
under or by reason of the provisions of this Agreement shall be in writing and shall be deemed to have been given when personally delivered, sent by telecopy (with receipt confirmed) on a business day during regular business hours of the recipient
(or, if not, on the next succeeding business day) or one business day after being sent by reputable overnight courier service (charges prepaid). 
 4C. Notices to Executive: 
 J. David Aronson 
 1756 N. Wood Street 
 Chicago, IL 60622 
 Notices to the Company: 
 Mill Services Corporation 
 c/o Wellspring Capital Partners III, L.P. 
 Lever House 
 390 Park Avenue 
 New York, New York 10022-4608 
 Attn: Alex Carles 
 Telecopy No.: (212) 318-9810 
 With a copy to: 
 Morgan, Lewis & Bockius LLP 
 101 Park Avenue 
 New York, New York 10178 
 Attn: David W. Pollak, Esq. 
 Telecopy No.: (212) 309-6001 
 4D. General Provisions. 
 (a) Conditions to Effectiveness. Notwithstanding anything in this Agreement to the contrary,
this Agreement shall not be effective until the Closing. In the event the closing of the transactions contemplated by the Unit Purchase Agreement have not then occurred, this Agreement shall terminate upon the termination of the Unit Purchase
Agreement. 
  

 9 

 (b) Severability. Whenever possible, each provision of this Agreement shall be interpreted in such
manner as to be effective and valid under applicable law, but if any provision of this Agreement is held to be invalid, illegal or unenforceable in any respect under any applicable law or rule in any jurisdiction, such invalidity, illegality or
unenforceability shall not affect any other provision or any other jurisdiction, but this Agreement shall be reformed, construed and enforced in such jurisdiction as if such invalid, illegal or unenforceable provision had never been contained
herein. 
 (c) Counterparts. This Agreement may be executed in separate counterparts (including by means of telecopied signature
pages), each of which is deemed to be an original and all of which taken together constitute one and the same agreement. 
 (d)
Successors and Assigns. Except as otherwise provided herein, this Agreement shall bind and inure to the benefit of and be enforceable by Executive and the Company and their respective successors and assigns;
provided that the rights and obligations of Executive under this Agreement shall not be assignable without the prior written consent of the Company. 
 (e) Choice of Law. All issues and questions concerning the construction, validity, enforcement and interpretation of this Agreement shall be governed by, and construed in accordance with, the laws of the State
of Delaware, without giving effect to any choice of law or conflict of law rules or provisions (whether of the State of Delaware or any other jurisdiction) that would cause the application of the laws of any jurisdiction other than the State of
Delaware. 
 (f) Amendment and Waiver. The provisions of this Agreement may be amended and waived only in a writing signed by the
Company (with the prior written approval of the Board) and Executive. 
 (g) No Strict Construction. Notwithstanding that this
Agreement has been drafted or prepared by one of the parties hereto, each of the parties hereto confirm that each party and their respective counsel have reviewed, negotiated and adopted this Agreement as the joint agreement of the parties. The
language used in this Agreement shall be deemed to be the language chosen by the parties, and no rule of strict construction shall be applied against any party. 
 (h) Third-Party Beneficiaries. The parties hereto acknowledge and agree that Wellspring is a third party beneficiary of this Agreement. This Agreement will inure to the benefit of and be enforceable by
Wellspring and its successors and assigns. 
 *        *        *        * 
  

 10

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00109-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00109-of-00352.parquet"}]]