Document:

Nominating Agreement

  
 EXHIBIT 10.32

  
  
 NOMINATING AGREEMENT 
  
 NOMINATING AGREEMENT, dated as of                      (this “Agreement”), by and among Earle M. Jorgensen
Company a Delaware corporation (the “Company”), Kelso Investment Associates, L.P., a Delaware limited partnership (“KIA LP”), Kelso Equity Partners II, L.P., a Delaware limited partnership
(“KEP II”), KIA III-Earle M. Jorgensen, L.P., a Delaware limited partnership (“KIA III-EMJ”), and Kelso Investment Associates IV, L.P., a Delaware limited partnership (together with KIA LP, KEP II and
KIA III-EMJ, “Kelso”). 
  
 WHEREAS, the
Company has determined that it is in its best interests to effect an initial public offering (“IPO”) of shares of common stock, par value $0.001 per share, of the Company (the “Common Stock”);

  
 WHEREAS, in connection with the IPO, the Company and Kelso
desire to enter into this Agreement setting forth certain rights and obligations with respect to the shares of Common Stock owned by Kelso. 
  
 NOW, THEREFORE, for good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the parties hereto, intending to be
legally bound, hereby agree as follows: 
  
 SECTION 1.
Definitions. As used in this Agreement, the following terms shall have the meanings ascribed to them below: 
  
 (a) Affiliate: a Person that directly, or indirectly through one or more intermediaries, controls, or is controlled by, or is under
common control with, the Person specified. 
  
 (b) Board of Directors: the Board of Directors of the Company. 
  
 (c) Bylaws: the Amended and Restated Bylaws of the Company, as may be amended from time to time. 
  
 (d) Certificate of Incorporation: the Amended and
Restated Certificate of Incorporation of the Company, as may be amended from time to time. 
  
 (e) Kelso Group: means Kelso, Affiliates of Kelso and any shares of Common Stock over which Kelso or any Affiliate of Kelso has
voting or dispositive power. 
  
 (f)
Person: an individual, corporation, partnership, limited liability company, joint venture, association, trust or other entity or organization, including a government or political subdivision or an agency or instrumentality thereof.

  

 SECTION 2. Board Representation. 
  
 (a) Until such time as the Kelso Group no longer beneficially owns at least 20% of the total number of
shares of Common Stock outstanding at any time, the Company and the Board of Directors shall include in the slate of nominees recommended to stockholders for election as directors at any annual or special meeting of the Company’s stockholders
at which directors of the Company are to be elected, not less than two individuals (the “Kelso Nominees”) designated by Kelso. 
  
 (b) Until such time as (x) the Kelso Group no longer beneficially owns at least 10% of the total number of shares of Common Stock
outstanding at any time, and (y) Kelso has, subsequent to the IPO, sold at least one share of Common Stock to a Person that is not an Affiliate of Kelso, the Company and the Board of Directors, shall include in the slate of nominees
recommended to stockholders for election as directors at any annual or special meeting of the Company’s stockholders at which directors of the Company are to be elected, not less than one Kelso Nominee designated by Kelso. 
  
 (c) Vacancies arising through the death, resignation or
removal of a Kelso Nominee nominated by Kelso to the Board of Directors pursuant to Section 2(a) or 2(b) hereof may be filled only by Kelso and the director so chosen shall hold office until the next annual election and until his or her successor is
duly elected and qualified, or until his or her earlier death, resignation or removal. 
  
 (d) Notwithstanding the provisions of this Section 2, Kelso shall not be entitled to designate a person as a nominee to the Board of
Directors upon a written determination by the Nominating and Corporate Governance Committee of the Company (which determination shall set forth in writing reasonable grounds for such determination) that such person would not be qualified under any
applicable law, rule or regulation to serve as a director of the Company. Other than with respect to the issue set forth in the preceding sentence, neither the Company nor any other stockholder shall have the right to object to any Kelso Nominee.

  
 (e) The Company shall notify Kelso in writing
of the date on which proxy materials are expected to be mailed by the Company in connection with an election of directors at an annual or special meeting of the Company’s stockholders (and such notice shall be delivered to Kelso at least 30
days prior to such expected mailing date). The Company shall provide Kelso with a reasonable opportunity to review and provide comments on any portion of the proxy materials relating to the Kelso Nominees or the rights and obligations provided under
this Agreement and to discuss any such comments with the Company. The Company shall notify Kelso of any opposition to a Kelso Nominee in accordance with Section 2(d) sufficiently in advance of the date on which such proxy materials are to be mailed
by the Company in connection with such election of directors so as to enable Kelso to propose a replacement Kelso Nominee, if necessary, 

  

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in accordance with the terms of this Agreement, and Kelso shall have 10 business days to designate another nominee. 
  
 (f) So long as this Agreement shall remain in effect,
subject to applicable legal requirements, the Bylaws and the Certificate of Incorporation shall accommodate the rights and obligations set forth herein. 
  
 SECTION 3. Miscellaneous. 
  
 (a) Governing Law. This Agreement and the rights and obligations of the parties hereunder and the Persons subject hereto shall be
governed by, and construed and interpreted in accordance with, the laws of the State of Delaware, without giving effect to the choice of law principles thereof. 
  
 (b) Certain Adjustments. The provisions of this Agreement shall apply to the full extent set forth
herein with respect to any and all shares of capital stock of the Company or any successor or assign of the Company (whether by merger, consolidation, sale of assets or otherwise) which may be issued in respect of, in exchange for, or in
substitution for the shares of Common Stock, by combination, recapitalization, reclassification, merger, consolidation or otherwise and the term “Common Stock” shall include all such other securities. 
  
 (c) Enforcement. Each of the parties agrees that in
the event of a breach of any provision of this Agreement, the aggrieved party may elect to institute and prosecute proceedings in any court of competent jurisdiction to enforce specific performance or to enjoin the continuing breach of this
Agreement. Such remedies shall, however, be cumulative and not exclusive, and shall be in addition to any other remedy which any party hereto may have. Each party hereto hereby irrevocably submits to the non-exclusive jurisdiction of the state and
federal courts in New York for the purposes of any suit, action or other proceeding arising out of or based upon this Agreement or the subject matter hereof. Each party hereto hereby consents to service of process made in accordance with Section
3(f). 
  
 (d) Successors and Assigns.
Except as otherwise provided herein, the provisions of this Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective heirs, legal representatives, successors and assigns. 
  
 (e) Entire Agreement. This Agreement constitutes the
full and entire understanding and agreement between the parties with regard to the subject matter hereof and supersedes all prior oral or written (and all contemporaneous oral) agreements or understandings with respect to the subject matter hereof.

  
 (f) Notices. All notices, requests,
demands, waivers and other communications required or permitted to be given under this Agreement shall be in 

  

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writing and shall be deemed to have been duly given if (a) delivered personally, (b) mailed, certified or registered mail with postage prepaid,
(c) sent by next-day or overnight mail or delivery or (d) sent by fax, as follows (or to such other address as the party entitled to notice shall hereafter designate in accordance with the terms hereof): 
  

	 	(i)	If to the Company, to it at: 

  
 Earle M. Jorgensen Company 
 10650 Alameda
Street 
 Lynwood, California 90262 
 Fax: (323) 567-1034 
 Attention: Corporate Secretary 
  
 With a copy to: 
  
 Katten Muchin Zavis Rosenman 
 2029 Century
Park East, Suite 2600 
 Los Angeles, California 90067 
 Fax: (310) 712-8225 
 Attention: Mark Conley, Esq. 
  

	 	(ii)	If to Kelso, to it at: 

  
 Kelso & Company 
 320 Park Avenue, 24th
Floor 
 New York, New York 10022 
 Fax: 212-223-2379 
 Attention: General Counsel 
  
 All such notices, requests, demands, waivers and other communications shall be deemed to have been received by (w) if by personal
delivery, on the day delivered, (x) if by certified or registered mail, on the fifth business day after the mailing thereof, (y) if by next-day or overnight mail or delivery, on the day delivered, or (z) if by fax, on the day
delivered, provided that such delivery is confirmed. 
  
 (g) Waiver. Waiver by any party hereto of any breach or default by the other party of any of the terms of this Agreement shall not operate as a waiver of any other breach or default, whether similar to or
different from the breach or default waived. No waiver of any provision of this Agreement shall be implied from any course of dealing between the parties hereto or from any failure by either party to assert its or his or her rights hereunder on any
occasion or series of occasions. 
  

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 (h) Counterparts. This Agreement may be executed in any number of counterparts,
each of which shall be deemed an original but all of which together shall constitute one and the same instrument. 
  
 (i) Headings. The headings to sections in this Agreement are for the convenience of the parties only and shall not control or
affect the meaning or construction of any provision hereof. 
  
 (j) Invalidity of Provision. The invalidity or unenforceability of any provision of this Agreement in any jurisdiction shall not affect the validity or enforceability of the remainder of this Agreement in that
jurisdiction or the validity or enforceability of this Agreement, including that provision, in any other jurisdiction. 
  
 (k) Amendments and Waivers. The provisions of this Agreement may be amended at any time and from time to time, and particular
provisions of this Agreement may be waived or modified, with and only with an agreement or consent in writing signed by each of the parties hereto. 
  
 (l) Further Assurances. Each party hereto shall do and perform or cause to be done and performed all such further acts and things
and shall execute and deliver all such other agreements, certificates, instruments and documents as any other party hereto or Person subject hereto may reasonably request in order to carry out the intent and accomplish the purposes of this
Agreement. 
  
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 IN WITNESS WHEREOF this Agreement has been signed by each of the parties hereto, and shall be effective
as of the date first above written. 
  

					
	 EARLE M. JORGENSEN COMPANY

		
	By:	 	 
	 	 	 Name:
	 	 
	 	 	 Title:
	 	 

  

					
	 KELSO INVESTMENT ASSOCIATES, L.P.

		
	By:	 	Kelso Partners I, L.P.,
	 	 	its General Partner
		
	By:	 	 
	 	 	 Name:
	 	 
	 	 	 Title:
	 	 

  

					
	 KELSO EQUITY PARTNERS II, L.P.

		
	By:	 	 
	 	 	 Name:
	 	 
	 	 	 Title:
	 	 

  

					
	 KIA III – EARLE M. JORGENSEN, L.P.

		
	By:	 	 Kelso Partners III, L.P.,
 its General
Partner

		
	By:	 	 
	 	 	 Name:
	 	 
	 	 	 Title:
	 	 

  

					
	 KELSO INVESTMENT ASSOCIATES IV, L.P.

		
	By:	 	 Kelso Partners IV, L.P.,
 its General
Partner

		
	By:	 	 
	 	 	 Name:
	 	 
	 	 	 Title:Amendment to Advisory Agreement

  
 EXHIBIT 10.33

  
 AMENDMENT TO ADVISORY AGREEMENT 
  
 AMENDMENT TO ADVISORY AGREEMENT (the “Agreement”), dated as
of December 17, 2004, between Earle M. Jorgensen Company, a Delaware corporation (the “Company”) and Kelso & Company, L.P. (“Kelso”). 
  
 WHEREAS, the Company and Kelso are parties to a Letter Agreement, dated as of March 19, 1990 (as extended by the Board, the
“1990 Advisory Agreement”); 
  
 WHEREAS, Kelso
has provided consulting and advisory services to the Company pursuant to the 1990 Advisory Agreement, as it has been extended on a year-to-year basis by the Board; 
  
 WHEREAS, Kelso has agreed to terminate the Company’s obligation to pay it an annual fee under the 1990 Advisory
Agreement; 
  
 WHEREAS, the Board of Directors (with Messrs.
Nickell and Wahrhaftig abstaining) has determined that it is in the best interest of the Company to pay Kelso a one time fee in consideration of the termination of the Company’s obligation to pay advisory fees and to otherwise amend the 1990
Advisory Agreement as provided herein; 
  
 NOW, THEREFORE, in
consideration of the foregoing and the mutual agreements contained herein, the parties hereto agree as follows: 
  
 1. Amendment of the Advisory Agreement. Effective upon the execution and delivery of this Agreement and the payment of the amount specified in the
next sentence, the Company’s obligation to pay to Kelso an annual advisory fee pursuant to the first sentence of the second paragraph of the 1990 Advisory Agreement will terminate. As soon as practicable after the execution and delivery of this
Agreement, the Company will pay to Kelso a one-time cash payment of Six Million Two Hundred Fifty Thousand Dollars ($6,250,000). Company directors who are designees of the Kelso Group (as defined below), who do not otherwise qualify as independent
directors under the Company’s Corporate Governance Guidelines, will receive no payment of fees from the Company in connection with their service as directors of the Company. 
  

 2. Survival of Expense Reimbursement. The Company and Kelso hereby acknowledge and affirm that the
obligation of the Company to reimburse Kelso promptly for Kelso’s out-of-pocket costs and expenses pursuant to the last sentence of the second paragraph of the 1990 Advisory Agreement shall survive until Kelso together with its affiliates cease
to own any shares of Holding’s common stock, par value $0.01 per share, or the Company’s common stock, par value $0.001 per share (in either case, the “Common Stock”). 
  
 3. Indemnification. The 1990 Advisory Agreement is hereby amended to insert the following new paragraph between the
existing second and third paragraphs: 
  
 “The Company will
indemnify Kelso and any of its affiliates or designees (collectively, with Kelso, the “Kelso Group”), and their respective officers, directors, partners, employees, agents and control persons (as such term is used in the Securities
Act of 1933, as amended, and the rules and regulations thereunder) to the full extent lawful against any and all third-party or derivative claims, losses and expenses as incurred (including all reasonable fees and disbursements of any such
indemnitee’s counsel and other out-of-pocket expenses incurred in connection with the investigation of and preparation for any such pending or threatened claims and any litigation or other proceedings arising therefrom) arising in connection
with (a) any services rendered by the Kelso Group hereunder; (b) any such indemnitee being a controlling person of the Company or any of its subsidiaries or (c) such indemnitee’s ownership of shares of Common Stock (it
being understood that such indemnification shall not extend to a diminution in value claim with respect to such shares), provided, however, there shall be excluded from such indemnification any such claim, loss or expense to the extent
that it is based upon any action or failure to act by such indemnitee that is found in a final judicial determination to constitute a breach of the fiduciary duty of loyalty to the Company or its stockholders, gross negligence or acts or omissions
not in good faith which involve intentional misconduct or a knowing violation of law on the part of such indemnitee. The Company will advance costs and expenses, including attorney’s fees, incurred by any such indemnitee in defending any such
claim in advance of the final disposition of such claim upon receipt of an undertaking by or on behalf of such indemnitee to repay amounts so advanced if it shall ultimately be determined that such indemnitee is not entitled to be indemnified by the
Company pursuant to this Agreement. 
  
 4. Counterparts.
This Agreement may be executed in counterparts, each of which shall be deemed to be an original, but all of which together shall constitute one and the same instrument. 
  

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 IN WITNESS WHEREOF, this Agreement has been signed by each of the parties hereto as of the date first
above written. 
  

					
	 EARLE M. JORGENSEN COMPANY

			
	 By:
	 	 	 	 
	 	 	 Name:
	 	 
	 	 	 Title:
	 	 

  

					
	 KELSO & COMPANY, L.P.

		
	 By:
	 	 Kelso & Companies, Inc.,
 Its General Partner

			
	 By:
	 	 	 	 
	 	 	 Name:
	 	 James J. Connors, II

	 	 	 Title:
	 	 Vice President and General Counsel

  

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