Document:

Registration Rights Agreement

  
 Exhibit 4.3 

 
 EXECUTION COPY 
  
 RYERSON TULL, INC. 
  
 3.50% Convertible Senior Notes due 2024 
  
 REGISTRATION RIGHTS AGREEMENT 
  
 November 10, 2004 
  
 J.P. Morgan Securities Inc. 
 277 Park Avenue

 New York, New York 10172 
  
 UBS Securities LLC 
 299 Park Avenue 
 New York, New York 10171 
  
 Ladies and Gentlemen: 
  
 Ryerson
Tull, Inc., a Delaware corporation (the “Company”), proposes to issue and sell (such issuance and sale, the “Initial Placement”) to the Initial Purchasers (as defined below), upon the terms set forth in a purchase
agreement, dated November 4, 2004 (the “Purchase Agreement”), $145,000,000 aggregate original principal amount of its 3.50% Convertible Senior Notes due 2024 (the “Firm Securities”) which will be guaranteed
on an unsecured senior basis by Ryerson Tull Procurement Corporation (the “Subsidiary Guarantor”). In addition, the Company has granted to the Initial Purchasers an option to purchase up to an additional $30,000,000 aggregate
original principal amount of the Company’s 3.50% Convertible Senior Notes due 2024 (the “Additional Securities” and, collectively with the Firm Securities, the “Securities”). The Securities will be convertible
into cash or a combination of cash and shares of Common Stock (as defined below) pursuant to the terms of the Indenture. As an inducement to you to enter into the Purchase Agreement and in satisfaction of a condition to your obligations thereunder,
the Company and the Subsidiary Guarantor agree with you, (i) for your benefit and (ii) for the benefit of the Holders (as defined below) from time to time of the Securities, the Subsidiary Guarantee and the shares of Common Stock issuable upon
conversion of the Securities, as follows: 
  
 1.
Definitions. Capitalized terms used herein without definition shall have the respective meanings set forth in the Purchase Agreement. As used in this Agreement, the following capitalized terms shall have the following meanings: 
  
 “Additional Interest” has the meaning set
forth in Section 2(e) hereof. 
  
 “Additional Interest Payment Date” means each May 1 and November 1. 
  
 “Affiliate” of any specified person means any other person directly or indirectly controlling or controlled by or under
common control with such specified person. For the purposes of this definition, “control” (including, with correlative meanings, the terms 

  

 
“controlling,” “controlled by” and “under common control with”), as used with respect to any person, shall mean the possession,
directly or indirectly, of the power to direct or cause the direction of the management and policies of such person whether through the ownership of voting securities or by agreement or otherwise. 
  
 “Business Day” has the meaning set forth in
the Indenture. 
  
 “Closing
Date” means November 10, 2004. 
  
 “Common Stock” means the common stock, par value $1.00 per share, of the Company, as it exists on the date of this Agreement and any other shares of capital stock or other securities of the Company into which such Common
Stock may be reclassified or changed, together with any and all other securities which may from time to time be issuable upon conversion of Securities. 
  
 “Company” has the meaning set forth in the preamble hereto. 
  
 “DTC” has the meaning set forth in the
Indenture. 
  
 “Election and
Questionnaire” means a Selling Securityholder Election and Questionnaire substantially in the form of Annex A to the Offering Memorandum. 
  
 “Election Holder” shall mean, on any date, any Holder of Transfer Restricted Securities that has delivered a completed
and signed Election and Questionnaire to the Company on or prior to such date. 
  
 “Exchange Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations of the SEC
promulgated thereunder. 
  
 “Holder” means a person who is a registered holder or beneficial owner of any Transfer Restricted Securities (including the Initial Purchasers). 
  
 “Holder Information” with respect to any Holder means information with respect to such
Holder required to be included in any Shelf Registration Statement or the related Prospectus pursuant to the Securities Act and which information is included therein in reliance upon and in conformity with information furnished to the Company in
writing by such Holder for inclusion therein. 
  
 “Indenture” means the Indenture relating to the Securities, dated November 10, 2004, among the Company, the Subsidiary Guarantor and The Bank of New York Trust Company, N.A., as trustee, as the same may be amended from time
to time in accordance with the terms thereof. 
  
 “Initial Placement” has the meaning set forth in the preamble hereto. 
  
 “Initial Purchasers” mean J.P. Morgan Securities Inc. and UBS Securities LLC. 
  

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 “Majority Holders” means the Holders of a majority of the then
outstanding aggregate principal amount of Securities being registered under a Shelf Registration Statement; provided that Holders of shares of Common Stock issued upon conversion of Securities shall be deemed to be Holders of the aggregate
principal amount of Securities converted into such Common Stock; and provided further, that Securities or shares of Common Stock which have been sold or otherwise transferred pursuant to the Shelf Registration Statement shall not be included in the
calculation of Majority Holders. 
  
 “NASD” has the meaning set forth in Section 3(i) hereof. 
  
 “NASD Rules” means the rules and regulation promulgated by the NASD. 
  
 “Offering Memorandum” means the Final
Memorandum as defined in the Purchase Agreement. 
  
 “Person” has the meaning set forth in the Indenture. 
  
 “Prospectus” means the prospectus included in any Shelf Registration Statement (including, without limitation, a
prospectus that discloses information previously omitted from a prospectus filed as part of an effective registration statement in reliance upon Rule 430A under the Securities Act), as amended or supplemented by any prospectus supplement, with
respect to the terms of the offering of any portion of the Securities or shares of Common Stock issuable upon conversion thereof covered by such Shelf Registration Statement, including all documents incorporated or deemed to be incorporated by
reference in such prospectus. 
  
 “Purchase Agreement” has the meaning set forth in the preamble hereto. 
  
 “Record Holder” means each person who is registered on the books of the registrar as the holder of Securities at 5:00
p.m., New York City time, on the April 15 or October 15 immediately preceding the relevant Additional Interest Payment Date. 
  
 “Registration Default” has the meaning set forth in Section 2(e) hereof. 
  
 “Rule 144” means Rule 144 under the
Securities Act (or any similar provision then in force). 
  
 “Rule 144A” means Rule 144A under the Securities Act (or any successor provision promulgated by the SEC). 
  
 “Rule 144(k)” means Rule 144(k) under the Securities Act (or any successor provision promulgated by the SEC). 

 
 “Rule 415” means Rule 415 under the
Securities Act (or any successor provision promulgated by the SEC). 
  
 “SEC” means the Securities and Exchange Commission. 
  
 “Securities” has the meaning set forth in the preamble hereto. 
  

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 “Securities Act” means the Securities Act of 1933, as amended, and the
rules and regulations of the SEC promulgated thereunder. 
  
 “Seller Post-Effective Amendment” has the meaning set forth in Section 2(b)(ii) hereof. 
  
 “Shelf Registration” means a registration effected pursuant to Section 2 hereof. 
  
 “Shelf Registration Period” has the meaning
set forth in Section 2(c) hereof. 
  
 “Shelf Registration Statement” means any “shelf” registration statement of the Company and the Subsidiary Guarantor filed pursuant to the provisions of Section 2 hereof which covers the Transfer Restricted
Securities on Form S-3 or on another appropriate form (as determined by the Company) for an offering to be made on a delayed or continuous basis pursuant to Rule 415 and all amendments and supplements to such registration statement, including
post-effective amendments, in each case including the Prospectus contained therein, all exhibits thereto and all documents incorporated or deemed to be incorporated by reference therein. 
  
 “Subsidiary Guarantor” has the meaning set forth in the preamble. 
  
 “Suspension Period” has the meaning set
forth in Section 2(d) hereof. 
  
 “Transfer Restricted Securities” means each Security and each share of Common Stock issuable upon conversion thereof until the earliest of the date on which such Security or share of Common Stock, as the case may be, (i)
has been transferred pursuant to a Shelf Registration Statement or another registration statement covering such Security or share of Common Stock which has been filed with the SEC pursuant to the Securities Act, in either case after such
registration statement has become effective and while such registration statement is effective under the Securities Act, (ii) has been transferred pursuant to Rule 144 under circumstances in which any legend borne by such Securities or shares of
Common Stock relating to restrictions on transferability thereof, under the Securities Act or otherwise, is removed, (iii) may be sold or transferred pursuant to Rule 144(k) or (iv) the date on which such Security or Common Stock ceases to be
outstanding. 
  
 “Trustee” means
the trustee with respect to the Securities under the Indenture. 
  
 All references in this Agreement to financial statements and schedules and other information which is “contained,” “included,” or “stated” in the Shelf Registration Statement, any preliminary Prospectus or
Prospectus (and all other references of like import) shall be deemed to mean and include all such financial statements and schedules and other information incorporated or deemed to be incorporated by reference in such Shelf Registration Statement,
preliminary Prospectus or Prospectus, as the case may be; and all references in this Agreement to amendments or supplements to the Shelf Registration Statement, any preliminary Prospectus or Prospectus shall be deemed to mean and include any
document filed with the SEC under the Exchange Act, after the date of such Shelf Registration Statement, preliminary Prospectus or Prospectus, as the case may be, which is incorporated or deemed to be incorporated by reference therein (which shall
not include, unless incorporated therein, documents and information furnished and not filed under applicable SEC rules). 
  

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 2. Shelf Registration Statement. 
  
 (a) The Company and the Subsidiary Guarantor shall, at their expense, prepare and file with the SEC within
90 calendar days following the Closing Date a Shelf Registration Statement with respect to resales of the Transfer Restricted Securities by each Holder that is an Election Holder from time to time on a delayed or continuous basis pursuant to Rule
415 and in accordance with the methods of distribution elected by such Election Holders in an Election and Questionnaire and thereafter shall use its reasonable best efforts to cause such Shelf Registration Statement to be declared effective under
the Securities Act within 180 calendar days after the Closing Date; provided that if any Additional Securities are issued and the date on which such Additional Securities are issued occurs after the Closing Date, the Company and the
Subsidiary Guarantor will take such steps, prior to the effective date of the Shelf Registration Statement, to ensure that such Additional Securities and the shares of Common Stock issuable upon conversion thereof are included in the Shelf
Registration Statement on the same terms as the Securities issued on the Closing Date. The Company and the Subsidiary Guarantor shall supplement or amend the Shelf Registration Statement if required by the rules, regulations or instructions
applicable to the registration form used by the Company for the Shelf Registration Statement, or by the Securities Act, the Exchange Act or the SEC. 
  
 (b) (i) The Company and the Subsidiary Guarantor shall take action to name each Holder that is an Election Holder as of the date that is
ten Business Days prior to the effectiveness of the Shelf Registration Statement as a selling securityholder in the Shelf Registration Statement at the time of its effectiveness so that such Holder is permitted to deliver the Prospectus forming a
part thereof as of such time to purchasers of such Holder’s Transfer Restricted Securities in accordance with applicable law. The Company and the Subsidiary Guarantor shall be under no obligation to name any Holder that is not an Election
Holder as a selling securityholder in the Shelf Registration Statement. 
  
 (ii) (A) After the Shelf Registration Statement has become effective, the Company shall, upon the request of any Holder of Transfer Restricted Securities, promptly send an Election and Questionnaire to such Holder and
the Company and the Subsidiary Guarantor shall, as promptly as is practicable after the date a completed and signed Election and Questionnaire is delivered to the Company, and in any event (subject to clause (B) below) within 15 Business Days
(excluding any days within a Suspension Period) after such date, prepare and file with the SEC (x) a supplement to the Prospectus or, if a post-effective amendment to the Shelf Registration Statement is required by applicable law in order to cause a
Holder to be named as a selling securityholder in the Shelf Registration Statement, a post-effective amendment to the Shelf Registration Statement (a “Seller Post-Effective Amendment”) and (y) any other document required by
applicable law, so that the Holder delivering such Election and Questionnaire is named as a selling securityholder in the Shelf Registration Statement and is permitted to deliver the Prospectus to purchasers of such Holder’s Transfer Restricted
Securities in accordance with applicable law. If the Company and the Subsidiary Guarantor file a Seller Post-Effective Amendment, they shall use their reasonable best efforts to cause such post-effective amendment to become effective under the
Securities Act as promptly as is practicable and in any event within 75 days (excluding any days within a Suspension Period) of such filing. 
  

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 (B) Notwithstanding the 15 Business-Day requirement of clause (A) above, neither the
Company nor the Subsidiary Guarantor shall be required to file more than one Seller Post-Effective Amendment in any fiscal quarter, provided that this clause (B) shall not relieve the Company or the Subsidiary Guarantor of any obligations
under clause (A) unless a Seller Post-Effective Amendment is required, as determined by the Company’s outside counsel, by applicable law in order to cause a Holder to be named as a selling securityholder in the Shelf Registration Statement.

  
 (c) The Company and the Subsidiary Guarantor
shall use their reasonable best efforts to keep the Shelf Registration Statement continuously effective, supplemented and amended under the Securities Act in order to permit the Prospectus forming a part thereof to be usable, subject to Sections
2(b)(ii) and 2(d), by all Election Holders until all Transfer Restricted Securities (A) have been transferred pursuant to a Shelf Registration Statement or another registration statement covering such Security or share of Common Stock which has been
filed with the SEC pursuant to the Securities Act, in either case after such registration statement has become effective and while such registration statement is effective under the Securities Act, (B) have been transferred pursuant to Rule 144
under circumstances in which any legend borne by such Securities or shares of Common Stock relating to restrictions on transferability thereof, under the Securities Act or otherwise, is removed, (C) may be sold or transferred pursuant to Rule 144(k)
or (D) have ceased to be outstanding (in any such case, such period being called the “Shelf Registration Period”). The Company and the Subsidiary Guarantor will, (x) subject to Sections 2(b)(ii) and 2(d), use their reasonable best
efforts to prepare and file with the SEC such amendments and post-effective amendments to the Shelf Registration Statement as may be necessary to keep the Shelf Registration Statement continuously effective for the Shelf Registration Period, (y)
subject to Sections 2(b)(ii) and 2(d), cause the related Prospectus to be supplemented by any required supplement, and as so supplemented to be filed pursuant to Rule 424 (or any similar provisions then in force) under the Securities Act and (z)
comply in all material respects with the provisions of the Securities Act with respect to the Shelf Registration Statement during the Shelf Registration Period. 
  
 (d) The Company and the Subsidiary Guarantor may suspend the availability of any Shelf Registration
Statement and the use of any Prospectus (the period during which the availability of any Shelf Registration Statement and any Prospectus may be suspended herein referred to as the “Suspension Period”), without incurring any
obligation to pay Additional Interest pursuant to Section 2(e), for a period not to exceed 120 calendar days in the aggregate during any 360 calendar-day period for valid business reasons, to be determined by the Company in its sole judgment (which
shall not include the avoidance of the Company’s obligations hereunder), including, without limitation, the acquisition or divestiture of assets, pending corporate developments, events listed in Section 3(c), public filings with the SEC and
similar events; provided that the Company and the Subsidiary Guarantor promptly thereafter comply with the requirements of Section 3(j) hereof, if applicable, and provided further that, if a Seller Post-Effective Amendment is required
by applicable law in order to cause a Holder to be named as a selling securityholder in the Shelf Registration Statement, the period of time between the filing and effectiveness of any Seller Post-Effective Amendment shall not be deemed to be a
Suspension Period hereunder. 
  

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 (e) The Company and the Initial Purchasers agree that the Holders of Transferred
Restricted Securities will suffer damages, and it would not be feasible to ascertain the extent of such damages with precision, if the Company fails to fulfill its obligations under Section 2 hereof. Accordingly, if (i) the Shelf Registration
Statement is not filed with the SEC within 90 calendar days after the Closing Date, (ii) the Shelf Registration Statement has not been declared effective by the SEC within 180 calendar days after the Closing Date, (iii) the Shelf Registration
Statement is filed and declared effective but shall thereafter cease to be effective (without being succeeded immediately by a replacement Shelf Registration Statement filed and declared effective) or usable (including as a result of a Suspension
Period and excluding as a result of a Seller Post-Effective Amendment that is required by applicable law in order to cause an Election Holder to be named as a selling sedurityholder therein) for the offer and sale of Transfer Restricted Securities
for a period of time (including any Suspension Period and excluding, if a Seller Post-Effective Amendment is required by applicable law in order to cause an Election Holder to be named as a selling securityholder in the Shelf Registration Statement,
the period of time between the filing and effectiveness of any Seller Post-Effective Amendment) which exceeds 120 calendar days in the aggregate in any 360 calendar-day period or (iv) the Company fails to perform its obligations set forth in Section
2(b)(ii) within the time periods required therein (each such event referred to in clauses (i) through (iv), a “Registration Default”), the Company and the Subsidiary Guarantor jointly and severally shall pay to each Holder of the
Securities (who is also a Record Holder) (the “Additional Interest”) equal to (i) one-quarter of one percent (25 basis points) per year of the outstanding principal amount of Securities constituting Transfer Restricted Securities
for the period up to and including the 90th calendar day during which such Registration Default has occurred and is
continuing and (ii) one-half of one percent (50 basis points) per year of the outstanding principal amount of Securities constituting Transfer Restricted Securities for the period including and subsequent to the 91st calendar day during which such
Registration Default has occurred and is continuing, it being understood that all calculations pursuant to this sentence shall be carried out to five decimal places. Following the cure of all Registration Defaults, Additional Interest will cease to
accrue with respect to such Registration Defaults. All accrued Additional Interest shall be paid by the Company or the Subsidiary Guarantor on each Additional Interest Payment Date in cash and Additional Interest will be calculated on the basis of a
360 calendar-day year consisting of twelve 30 calendar-day months. The parties hereto agree that the Additional Interest provided for in this Section 2(e) constitutes a reasonable estimate of the damages that may be incurred by Election Holders by
reason of a Registration Default and that such Additional Interest is the only monetary damage available to Election Holders in the event of a Registration Default. No Additional Interest shall be payable to any Holder of shares of Common Stock
issued upon conversion of the Securities, or in respect of cash paid in lieu of Common Stock upon conversion of the Securities. 
  
 (f) All of the Company’s and the Subsidiary Guarantor’s obligations (including, without limitation, the obligation to pay
Additional Interest) set forth in the preceding paragraph which are outstanding or exist with respect to any Transfer Restricted Security at the time such security ceases to be a Transfer Restricted Security shall survive until such time as all such
obligations with respect to such security shall have been satisfied in full. Notwithstanding the foregoing, no Additional Interest shall accrue as to any Transfer Restricted Security from and after the date such security is no longer a Transfer
Restricted Security. Additional Interest shall 

  

 7 

 
not accrue to more than one Holder with respect to a Transfer Restricted Security at any one time. 
  
 (g) Immediately upon the occurrence or the cure of a
Registration Default, the Company shall give the Trustee, so long as the Securities remain outstanding, notice of such commencement or termination of the obligation to pay Additional Interest with regard to the Securities, the amount or applicable
percentage thereof and the nature of the Registration Default giving rise to such commencement or the event giving rise to such termination, as the case may be (such notice to be contained in an Officer’s Certificate (as such term is defined in
the Indenture)), and, prior to receipt of such Officer’s Certificate, the Trustee shall be entitled to assume that no such commencement or termination has occurred, as the case may be. 
  
 3. Registration Procedures. In connection with any Shelf Registration
Statement, the following provisions shall apply: 
  
 (a) The Company and the Subsidiary Guarantor shall (i) furnish to the Initial Purchasers, within a reasonable period of time, but in any event within three Business Days, prior to the filing thereof with the SEC to afford the Initial
Purchasers and their counsel a reasonable opportunity for review, a copy of each Shelf Registration Statement, and each amendment thereof, and a copy of each Prospectus, and each amendment or supplement thereto (excluding amendments caused by the
filing of a report under the Exchange Act), and shall reflect in each such document, when so filed with the SEC, such comments as the Initial Purchasers may reasonably propose, except to the extent the Company reasonably determines, on the advice of
counsel, it to be inadvisable or inappropriate to reflect such comments therein, and (ii) include information regarding the Election Holders and the methods of distribution they have elected for their Transfer Restricted Securities provided to the
Company in Election and Questionnaires as necessary to permit such distribution by the methods specified therein. Each Election Holder who sells, transfers or disposes of Transfer Restricted Securities pursuant to the Shelf Registration Statement
shall, as a condition to the obligations of the Company and the Subsidiary Guarantor hereunder, do so only in accordance with the terms of this Agreement, the methods of distribution elected by such Election Holder, the Securities Act and the
Exchange Act. 
  
 (b) Subject to Sections
2(b)(ii) and 2(d), the Company and the Subsidiary Guarantor shall ensure that (i) any Shelf Registration Statement and any amendment thereto and any Prospectus forming a part thereof and any amendment or supplement thereto comply in all material
respects with the Securities Act and the rules and regulations thereunder, (ii) any Shelf Registration Statement and any amendment thereto does not, when it becomes effective, contain an untrue statement of a material fact or omit to state a
material fact required to be stated therein or necessary to make the statements therein not misleading and (iii) any Prospectus forming a part of any Shelf Registration Statement, and any amendment or supplement to such Prospectus, does not include
an untrue statement of a material fact or omit to state a material fact necessary in order to make the statements therein, in light of the circumstances under which they were made, not misleading; provided that the Company and the Subsidiary
Guarantor make no representation with respect to any Holder Information. 
  

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 (c) The Company and the Subsidiary Guarantor, as promptly as reasonably practicable (but
in any event within two Business Days), shall notify the Initial Purchasers and each Election Holder and, if requested by you or any such Election Holder, confirm such notice in writing: 
  
 (i) when a Shelf Registration Statement or any post-effective amendment thereto or any Prospectus or any
amendment or supplement thereto has been filed with the SEC and when the Shelf Registration Statement or any post-effective amendment thereto has become effective, which notice and confirmation may be made at the election of the Company by making a
public announcement thereof by a press release made through Reuters Economic Services or Bloomberg Business News; 
  
 (ii) of any request, following effectiveness of the Shelf Registration Statement under the Securities Act, by the SEC or any other federal
or state governmental authority for amendments or supplements to the Shelf Registration Statement or the Prospectus or for additional information (other than any such request relating to a review of the Company’s Exchange Act filings);

  
 (iii) of the issuance by the SEC or any other
federal or state governmental authority of any stop order suspending the effectiveness of the Shelf Registration Statement or of any order preventing or suspending the use of any Prospectus or the initiation or threat of any proceedings for that
purpose; 
  
 (iv) of the receipt by the Company
of any notification with respect to the suspension of the qualification or exemption from qualification of the Transfer Restricted Securities included in any Shelf Registration Statement for sale in any jurisdiction or the initiation or threat of
any proceeding for that purpose; 
  
 (v) of the
occurrence of any event or the existence of any condition or any information becoming known that requires the making of any changes in the Shelf Registration Statement or the Prospectus or any document incorporated by reference therein so that, as
of such date, the statements therein are not misleading and the Shelf Registration Statement or the Prospectus or any document incorporated by reference therein, as the case may be, does not include an untrue statement of a material fact or omit to
state a material fact required to be stated therein or necessary to make the statements therein (in the case of the Prospectus, in light of the circumstances under which they were made) not misleading; 
  
 (vi) of the Company’s determination that a
post-effective amendment to the Shelf Registration Statement is necessary; and 
  
 (vii) of the commencement (including as a result of any of the events or circumstances described in paragraphs (ii) through (vi) above)
and termination of any Suspension Period; provided that the Company’s actions pursuant to Section 3(c)(vi) shall not constitute a Suspension Period if taken pursuant to Section 2(b)(ii). 
  
 (d) The Company and the Subsidiary Guarantor shall use their
reasonable best efforts to obtain (i) the withdrawal of any order suspending the effectiveness of any Shelf 

  

 9 

 
Registration Statement and the use of any related Prospectus and (ii) the lifting of any suspension of the qualification (or exemption from qualification) of
any of the Transfer Restricted Securities for offer or sale in any jurisdiction in which they have been qualified for sale, in each case at the earliest possible time, and shall provide notice to each Election Holder and the Initial Purchasers of
the withdrawal of any such orders or suspensions. 
  
 (e) The Company shall promptly furnish to the Initial Purchaser and each Election Holder who so requests to the Company, without charge, at least one copy of any Shelf Registration Statement and any post-effective amendment thereto,
excluding all documents incorporated or deemed to be incorporated therein by reference and all exhibits thereto (unless requested by such Election Holder). 
  
 (f) The Company shall, during the Shelf Registration Period, promptly deliver to the Initial Purchasers, each Election Holder and any
broker-dealers acting on their behalf, without charge, as many copies of the Prospectus (including each preliminary Prospectus) included in any Shelf Registration Statement, and any amendment or supplement thereto, as such person may reasonably
request, except as provided in Sections 2(d) and 3(s) hereof; and the Company and the Subsidiary Guarantor hereby consent (except during a Suspension Period and during the period of time between the filing and effectiveness of a Seller
Post-Effective Amendment filed pursuant to Section 2(b)(ii)) to the use of the Prospectus and any amendment or supplement thereto by each of the selling Election Holders in connection with the offering and sale of the Transfer Restricted Securities
covered by the Prospectus or any amendment or supplement thereto in the manner set forth therein. 
  
 (g) Prior to any offering of Transfer Restricted Securities pursuant to any Shelf Registration Statement, the Company and the Subsidiary
Guarantor shall register or qualify or cooperate with the Election Holders and their respective counsel in connection with the registration or qualification (or exemption from such registration or qualification) of such Transfer Restricted
Securities for offer and sale, under the securities or blue sky laws of such jurisdictions within the United States as any such Election Holders reasonably request in writing and shall maintain such qualification in effect so long as required during
the Shelf Registration Period and do any and all other acts or things reasonably necessary or advisable to enable the offer and sale in such jurisdictions of the Transfer Restricted Securities covered by such Shelf Registration Statement;
provided, however, that the Company and the Subsidiary Guarantor will not be required to (A) qualify generally to do business as a foreign corporation or as a dealer in securities in any jurisdiction where it is not then so qualified or to
(B) take any action which would subject them to service of process or taxation in any such jurisdiction where they are not then so subject. 
  
 (h) The Company and the Subsidiary Guarantor shall cooperate with the Election Holders to facilitate the timely preparation and delivery
of certificates representing Transfer Restricted Securities (to the extent certificates for the Securities or the Common Stock issued upon conversion of Securities are issuable under the Indenture) sold pursuant to any Shelf Registration Statement
free of any restrictive legends and, with respect of any Securities, in such denominations permitted by the Indenture and registered in such names as such Election Holders may request at least one Business Day prior to settlement of sales of
Transfer Restricted Securities pursuant to such Shelf Registration Statement. 
  

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 (i) Subject to the exceptions contained in (A) and (B) of Section 3(g) above, the Company
and the Subsidiary Guarantor shall use their reasonable best efforts to cause the Transfer Restricted Securities covered by the applicable Shelf Registration Statement to be registered with or approved by such other federal, state and local
governmental agencies or authorities, and self-regulatory organizations in the United States as may be necessary to enable the Election Holders to consummate the disposition of such Transfer Restricted Securities as contemplated by the Shelf
Registration Statement; without limitation to the foregoing, the Company shall provide all such information as may be required by the National Association of Securities Dealers, Inc. (the “NASD”) in connection with the offering
under the Shelf Registration Statement of the Transfer Restricted Securities (including, without limitation, such as may be required by NASD Rule 2710 or 2720), and shall cooperate with each Holder in connection with any filings required to be made
with the NASD by such Holder in that regard. 
  
 (j) Upon the occurrence of any event described in Section 3(c)(v) or 3(c)(vi) hereof, the Company and the Subsidiary Guarantor shall promptly prepare and file with the SEC a post-effective amendment to any Shelf Registration Statement, or
an amendment or supplement to the related Prospectus, or any document incorporated therein by reference, or file a document which is incorporated or deemed to be incorporated by reference in such Shelf Registration Statement or Prospectus, as the
case may be, so that, as thereafter delivered to purchasers of the Transfer Restricted Securities included therein, the Shelf Registration Statement and the Prospectus, in each case as then amended or supplemented, will not include an untrue
statement of a material fact or omit to state any material fact required to be stated therein or necessary in order to make the statements therein (in the case of the Prospectus, in light of the circumstances under which they were made) not
misleading and, in the case of a post-effective amendment, use its reasonable best efforts to cause it to become effective as promptly as practicable; provided that the Company’s and the Subsidiary Guarantor’s obligations under this
paragraph (j) shall be suspended if the Company has suspended the use of the Prospectus in accordance with Section 2(d) hereof and given notice of such suspension to Election Holders, it being understood that the Company’s and the Subsidiary
Guarantor’s obligations under this Section 3(j) shall be automatically reinstated at the end of such Suspension Period. 
  
 (k) The Company shall provide, prior to the effective date of any Shelf Registration Statement hereunder (i) a CUSIP number for the
Transfer Restricted Securities registered under such Shelf Registration Statement and (ii) global certificates for such Transfer Restricted Securities to the Trustee, in a form eligible for deposit with DTC. 
  
 (l) The Company shall make generally available to its
security holders an earnings statement satisfying the provisions of Section 11(a) of the Securities Act and Rule 158 promulgated by the SEC thereunder (or any similar rule promulgated under the Securities Act) for a 12-month period commencing on the
first day of the first fiscal quarter of the Company commencing after the effective date of any Shelf Registration Statement or each post-effective amendment to any Shelf Registration Statement, which such statements shall be made available no later
than 45 days after the end of the 12-month period or 90 days after the end of the 12-month period, if the 12-month period coincides with the fiscal year of the Company. 
  

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 (m) The Company and the Subsidiary Guarantor shall cause the Indenture to be qualified
under the TIA (as defined in the Indenture) not later than the effective date of the first Shelf Registration Statement. 
  
 (n) The Company shall use its reasonable best efforts to cause all shares of Common Stock issuable upon conversion of the Securities to be
approved for listing upon official notice of issuance on each securities exchange or quotation system on which the Common Stock is then listed no later than the date the applicable Shelf Registration Statement is declared effective and, in
connection therewith, to make such filings as may be required under the Exchange Act and to have such filings declared effective as and when required thereunder. 
  
 (o) The Company may require each Election Holder of Transfer Restricted Securities to be sold pursuant to
any Shelf Registration Statement to furnish to the Company such information regarding the Election Holder and the distribution of such Transfer Restricted Securities sought by the Election and Questionnaire and such additional information as may,
from time to time, be required by the Securities Act and/or the SEC or any other federal or state governmental authority, and the obligations of the Company to any Election Holder under this Agreement shall be expressly conditioned on the compliance
of such Election Holder with such request. 
  
 (p) The Company and the Subsidiary Guarantor shall, if reasonably requested, promptly incorporate in a Prospectus supplement or post-effective amendment to a Shelf Registration Statement (i) such information as the Majority Holders provide
and (ii) such information as an Election Holder may provide from time to time to the Company in writing for inclusion in a Prospectus or any Shelf Registration Statement concerning such Election Holder and the distribution of such Holder’s
Transfer Restricted Securities and, in either case, shall make all required filings of such Prospectus supplement or post-effective amendment promptly after being notified in writing of the matters to be incorporated in such Prospectus supplement or
post-effective amendment; provided that the Company and the Subsidiary Guarantor shall not be required to take any action under this Section 3(p) that is not, in the reasonable opinion of counsel for the Company and the Subsidiary Guarantor,
in compliance with applicable law. 
  
 (q) In the
case of the underwritten offering provided by Section 7 below, take all actions reasonably necessary, or reasonably requested by the holders of a majority of the Transfer Restricted Securities being sold in such underwritten offering, in order to
expedite or facilitate disposition of such Transfer Restricted Securities; provided that neither the Company nor the Subsidiary Guarantor shall be required to take any action in connection with the underwritten offering without its consent.

  
 (r) If reasonably requested in writing in
connection with any disposition of Transfer Restricted Securities pursuant to a Shelf Registration Statement, make reasonably available for inspection during normal business hours by a representative for the Election Holders of such Transfer
Restricted Securities and any broker-dealers, attorneys and accountants retained by such Election Holders, all relevant financial and other records, pertinent corporate documents and properties of the Company and its subsidiaries, and cause the
appropriate executive officers, directors and designated employees of the Company and its subsidiaries to make reasonably available for inspection during normal business hours all relevant information 

  

 12 

 
reasonably requested by such representative for the Election Holders or any such broker-dealers, attorneys or accountants in connection with such
disposition, in each case as is customary for similar “due diligence” examinations; provided, however, that any information that is designated by the Company, in good faith, as confidential at the time of delivery of such
information shall be kept confidential by such persons, unless disclosure thereof is made in connection with a court, administrative or regulatory proceeding or required by law, or such information has become available to the public generally
through the Company or through a third party without an accompanying obligation of confidentiality, and the Company may, at its option, require all such Election Holders and representatives to sign a standard confidentiality agreement with respect
thereto prior to permitting access to such confidential information. 
  
 (s) Each Election Holder agrees that, upon receipt of notice of the happening of an event described in Sections 3(c)(ii) through and including 3(c)(vii), such Election Holder shall forthwith discontinue (and shall
cause its agents and representatives to discontinue) disposition of Transfer Restricted Securities and will not resume disposition of Transfer Restricted Securities until such Election Holder has received copies of an amended or supplemented
Prospectus contemplated by Section 3(j) hereof, or until such Holder is advised in writing by the Company that the use of the Prospectus may be resumed or that the relevant Suspension Period has been terminated, as the case may be, provided
that the foregoing shall not prevent the sale, transfer or other disposition of Transfer Restricted Securities by an Election Holder in a transaction which is exempt from, or not subject to, the registration requirements of the Securities Act,
so long as such Election Holder does not and is not required to deliver the applicable Prospectus or Shelf Registration Statement in connection with such sale, transfer or other disposition, as the case may be; and provided, further, that the
provisions of this Section 3(s) shall not prevent the occurrence of a Registration Default or otherwise limit the obligation of the Company and the Subsidiary Guarantor to pay Additional Interest. 
  
 (t) Each Election Holder shall promptly notify the Company
of any inaccuracies or changes in the information provided in such Election Holder’s Election and Questionnaire that may occur subsequent to the date thereof at any time while the Shelf Registration Statement remains effective. Upon any sale of
Registrable Securities pursuant to the Shelf Registration Statement or otherwise, each Election Holder hereby agrees to deliver to the Company and the Trustee a duly completed and executed Notice of Transfer in substantially the form set forth in
Exhibit A to the Offering Memorandum. 
  
 4. Registration
Expenses. The Company and the Subsidiary Guarantor shall bear all fees and expenses incurred in connection with the performance of their obligations under Sections 2 and 3 hereof. Such fees and expenses shall include, without limitation: (i) all
registration and filing fees and expenses (including filings made with the NASD); (ii) all fees and expenses of compliance with federal securities and state Blue Sky or securities laws; (iii) all expenses of printing (including printing of
Prospectuses and certificates for the Common Stock to be issued upon conversion of the Securities) and the Company’s and the Subsidiary Guarantor’s expenses for messenger and delivery services and telephone; (iv) all fees and disbursements
of counsel to the Company and the Subsidiary Guarantor and, in the case of the Shelf Registration Statement, and any amendment and supplement thereto, the fees and disbursements (not exceeding $15,000 in the aggregate) of the counsel for the Initial
Purchasers and the Holders (which counsel shall initially be Simpson Thacher & Bartlett LLP until such 

  

 13 

 
time as the Majority Holders shall have elected a different counsel); (v) all application and filing fees in connection with listing (or authorizing for
quotation) the Common Stock on a national securities exchange or automated quotation system pursuant to the requirements hereof; and (vi) all fees and disbursements of independent certified public accountants of the Company and the Subsidiary
Guarantor. The Company and the Subsidiary Guarantor shall bear their internal expenses (including, without limitation, all salaries and expenses of their officers and employees performing legal, accounting or other duties), the expenses of any
annual audit and the fees and expenses of any Person, including special experts, retained by the Company and the Subsidiary Guarantor. Notwithstanding the provisions of this Section 4, each Holder shall bear the expense of any broker’s
commission, agency fee and underwriter’s discount or commission (including, without limitation, the expenses related to the engagement of a “qualified independent underwriter”), if any, relating to the sale or disposition of such
Holder’s Transfer Restricted Securities pursuant to a Shelf Registration Statement. 
  
 5. Indemnity and Contribution. 
  
 (a) Each of the Company and the Subsidiary Guarantor agrees to indemnify and hold harmless each Holder of Transfer Restricted Securities named in any Shelf Registration Statement (including, without limitation, the
Initial Purchasers), and each person, if any, who controls any such Holder within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act (collectively referred to for purposes of this Section 5 as a
“Holder”), from and against any and all losses, claims, damages and liabilities (including without limitation the reasonable legal fees and other expenses incurred in connection with any suit, action or proceeding or any claim
asserted) caused by any untrue statement or alleged untrue statement of a material fact contained in the Shelf Registration Statement, or in any Prospectus, or any amendment thereof or supplement thereto, or caused by any omission or alleged
omission to state therein a material fact required to be stated therein or necessary, in the case of any Prospectus in light of the circumstances under which they were made, to make the statements therein not misleading, except insofar as such
losses, claims, damages or liabilities are caused by any untrue statement or omission or alleged untrue statement or omission made in reliance upon and in conformity with information relating to any Holder furnished to the Company in writing by such
Holder expressly for use therein; provided that the foregoing indemnity with respect to any Shelf Registration Statement, or any Prospectus, shall not inure to the benefit of any Holder (or the benefit of any person controlling such Holder)
from whom the person asserting any such losses, claims, damages or liabilities purchased the securities concerned, to the extent that any such loss, claim, damage or liability of the Holders occurs under the circumstance where it shall have been
established that (w) the Company had previously furnished copies of the Prospectus, and any amendments and supplements thereto, to the Holder (to the extent such Holder has previously requested such copies), (x) delivery of the Prospectus, and any
amendment or supplements thereto, was required by the Securities Act to be made to such person, (y) the untrue statement or omission of a material fact was corrected in the Prospectus or amendments or supplements thereto, and (z) there was not sent
or given to such person, at or prior to the written confirmation of the sale of such securities to such person, a copy of such Prospectus or amendments or supplements thereto. 
  
 (b) Each Holder agrees, severally and not jointly, to indemnify and hold harmless the Company, the
Subsidiary Guarantor, the directors and officers of each of the 

  

 14 

 
Company and the Subsidiary Guarantor and each person who controls the Company or the Subsidiary Guarantor within the meaning of Section 15 of the Securities
Act or Section 20 of the Exchange Act, to the same extent as the foregoing indemnity from the Company and the Subsidiary Guarantor to the Holders, but only with reference to information relating to such Holder furnished to the Company in writing by
such Holder expressly for use in the Shelf Registration Statement, or in any Prospectus, or any amendment or supplement thereto. 
  
 (c) If any suit, action, proceeding (including any governmental or regulatory investigation), claim or demand shall be brought or asserted
against any person in respect of which indemnity may be sought pursuant to either of the two preceding paragraphs, such person (the “Indemnified Person”) shall promptly notify the person against whom such indemnity may be sought
(the “Indemnifying Person”) in writing, and the Indemnifying Person, upon request of the Indemnified Person, shall retain counsel reasonably satisfactory to the Indemnified Person to represent the Indemnified Person and any others
the Indemnifying Person may designate in such proceeding and shall pay the reasonable fees and expenses of such counsel related to such proceeding. In any such proceeding, any Indemnified Person shall have the right to retain its own counsel, but
the fees and expenses of such counsel shall be at the expense of such Indemnified Person unless (i) the Indemnifying Person and the Indemnified Person shall have mutually agreed to the contrary, (ii) the Indemnifying Person has failed within a
reasonable time to retain counsel reasonably satisfactory to the Indemnified Person or (iii) the named parties in any such proceeding (including any impleaded parties) include both the Indemnifying Person and the Indemnified Person and
representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them. It is understood that the Indemnifying Person shall not, in connection with any proceeding or related proceeding
in the same jurisdiction, be liable for the fees and expenses of more than one separate firm (in addition to any local counsel) for all Indemnified Persons, and that all such fees and expenses shall be reimbursed as they are incurred. Any such
separate firm for the Holders and such control persons of the Holders shall be designated in writing by the Initial Purchasers and any such separate firm for the Company and the Subsidiary Guarantors, the directors and officers of each of the
Company and the Subsidiary Guarantor and such control persons of the Company and the Subsidiary Guarantor shall be designated in writing by the Company. The Indemnifying Person shall not be liable for any settlement of any pending or threatened
proceeding effected without its prior written consent, but if settled with such consent or if there be a final judgment for the plaintiff, the Indemnifying Person agrees to indemnify in accordance with Section 5(a) or 5(b) above, as the case may be,
any Indemnified Person from and against any loss or liability by reason of such settlement or judgment. No Indemnifying Person shall, without the prior written consent of the Indemnified Person, effect any settlement of any pending proceeding in
respect of which any Indemnified Person is a party or of any threatened proceeding in respect of which any Indemnified Person could have been a party and indemnity could have been sought hereunder by such Indemnified Person, unless such settlement
includes an unconditional release of such Indemnified Person from all liability on claims that are the subject matter of such proceeding on terms reasonably satisfactory to such Indemnified Person. 
  
 (d) If the indemnification provided for in paragraph (a) or
(b) of this Section 5 is unavailable to an Indemnified Person or insufficient in respect of any losses, claims, damages or liabilities referred to therein, then each Indemnifying Person under such paragraph, in lieu of indemnifying such Indemnified
Person thereunder, shall contribute to the amount paid or payable 

  

 15 

 
by such Indemnified Person as a result of such losses, claims, damages or liabilities (i) in such proportion as is appropriate to reflect the relative
benefits received by the Company and the Subsidiary Guarantor on the one hand and the Holder on the other hand with respect to the sale by such Holder of Securities or Common Stock or (ii) if the allocation provided by clause (i) above is not
permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i) above but also the relative fault of the Company and the Subsidiary Guarantor on the one hand and of such Holder on
the other in connection with the statements or omissions that resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. Benefits received by the Company and the Subsidiary Guarantor shall be
deemed to be equal to the total net proceeds from the Initial Placement (before deducting expenses). Benefits received by the Initial Purchasers shall be deemed to be equal to the total purchase discounts and commissions received by the Initial
Purchasers in the Initial Placement, and benefits received by any other Holders shall be deemed to be equal to the value of receiving Securities registered under the Securities Act. Benefits received by any underwriter shall be deemed to be equal to
the total underwriting discounts and commissions, as set forth on the cover page of the Prospectus forming a part of the Shelf Registration Statement which resulted in such losses, claims, damages or liabilities. The relative fault of the Company
and the Subsidiary Guarantor on the one hand and such Holder on the other shall be determined by reference to, among other things, whether any untrue or any alleged untrue statement of a material fact or the omission or alleged omission to state a
material fact relates to information supplied by the Company, the Subsidiary Guarantor or by such Holder and the parties’ relevant intent, knowledge, information and opportunity to correct or prevent such statement or omission. 
  
 (e) The Company, the Subsidiary Guarantor and the Holders
agree that it would not be just and equitable if contribution pursuant to this Section 5 were determined by pro rata allocation (even if the Holders were treated as one entity for such purpose) or any other method of allocation that does not
take account of the equitable considerations referred to in paragraph (d) of this Section 5. The amount paid or payable by an Indemnified Person as a result of losses, claims, damages and liabilities referred to in paragraph (d) of this Section 5
shall be deemed to include, subject to the limitations set forth above, any reasonable legal or other expenses incurred by such Indemnified Person not otherwise reimbursed in connection with investigating or defending any such action or claim.
Notwithstanding the provisions of this Section 5, in no event shall any Holder be required to contribute any amount in excess of the amount by which the total amount received by such Holder with respect to its sale of Transfer Restricted Securities
pursuant to a Shelf Registration Statement exceeds the amount of any damages that such Holder has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent
misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. 
  
 (f) The remedies provided for in this Section 5 are not exclusive and shall not limit any rights or remedies
which may otherwise be available to any Indemnified Party at law or in equity. 
  
 (g) The indemnity and contribution agreements contained in this Section 5 shall remain operative and in full force and effect regardless
of (i) any termination of this Agreement, (ii) any investigation made by or on behalf of any Holder or any person controlling 

  

 16 

 
any Holder or by or on behalf of the Company and the Subsidiary Guarantor, the officers or directors of each of the Company and the Subsidiary Guarantor or
any other person controlling the Company or the Subsidiary Guarantor and (iii) the sale by a Holder of Transfer Restricted Securities covered by a Shelf Registration Statement. 
  
 6. Rules 144 and 144A. The Company covenants that it shall file the reports required to be filed by it under the
Securities Act and the Exchange Act in a timely manner so long as the Transfer Restricted Securities remain outstanding. If at any time the Company is not required to file such reports, it will, upon request of any Holder or beneficial owner of
Transfer Restricted Securities, make available such information necessary to permit sales pursuant to Rule 144A. The Company further covenants that, for as long as any Transfer Restricted Securities remain outstanding, it will take such further
action as any Holder of Transfer Restricted Securities may reasonably request, all to the extent required from time to time to enable such Holder to sell Transfer Restricted Securities without registration under the Securities Act within the
limitation of the exemptions provided by Rule 144 and Rule 144A. Upon the written request of any Holder of Transfer Restricted Securities, the Company shall deliver to such Holder a written statement as to whether it has complied with such
requirements. Nothing in this Section 6 shall be deemed to require the Company to register any of its securities under the Exchange Act. 
  
 7. Underwritten Offering. 
  
 (a) If any of the Transfer Restricted Securities covered by any Shelf Registration Statement are to be sold in an underwritten offering,
the investment banker or investment bankers and manager or managers that will administer the underwritten offering will be selected by the Majority Holders of such Transfer Restricted Securities included in such underwritten offering, subject to the
consent of the Company (which shall not be unreasonably withheld or delayed), and such Holders shall be responsible for all underwriting commissions and discounts in connection therewith; provided, however, that notwithstanding anything
contained in this Agreement to the contrary, the Company shall be under no obligation to participate in any underwritten offering with respect to the Transfer Restricted Securities and no underwritten offering shall be effected pursuant to this
Agreement without the prior written consent of the Company. 
  
 (b) No Holder may participate in any underwritten offering hereunder unless such person (i) agrees to sell such Holder’s Transfer Restricted Securities on the basis reasonably provided in any underwriting
arrangements approved by the Holders entitled hereunder to approve such arrangements and (ii) completes and executes all questionnaires, powers of attorney, indemnities, underwriting agreements and other documents reasonably required under the terms
of such underwriting arrangements. 
  
 8. Miscellaneous.

  
 (a) No Inconsistent Agreements.
Neither the Company nor the Subsidiary Guarantor has, as of the date hereof, entered into nor shall it, on or after the date hereof, enter into, any agreement with respect to its securities that is inconsistent with the rights granted to the Holders
herein or otherwise conflicts with the provisions hereof. In addition, the Company shall 

  

 17 

 
not grant to any of its securityholders the right to include any of its securities in the Shelf Registration Statement provided for in this Agreement other
than the Transfer Restricted Securities. 
  
 (b)
Amendments and Waivers. Except as provided in the next paragraph, this Agreement, including this Section 8(b), may be amended, modified or supplemented, and waivers or consents to depart from the provisions hereof may be given, only by the
written consent of the Company, the Subsidiary Guarantor and the majority of the Holders of the then outstanding Transfer Restricted Securities; provided that with respect to any matter that directly or indirectly affects the rights of the
Initial Purchasers hereunder, the Company shall obtain the written consent of the Initial Purchasers against which such amendment, supplement, waiver or consent is to be effective. Notwithstanding the foregoing (except the foregoing proviso), a
waiver or consent to depart from the provisions hereof with respect to a matter that relates exclusively to the rights of Holders whose Transfer Restricted Securities are being sold pursuant to a Shelf Registration Statement and that does not
directly or indirectly affect the rights of other Holders may be given by the Majority Holders. Notwithstanding the foregoing two sentences, (i) this Agreement may be amended by written agreement signed by the Company, the Subsidiary Guarantor and
the Initial Purchasers, without the consent of the Holders of Transfer Restricted Securities, to cure any ambiguity or to correct or supplement any provision contained herein that may be defective or inconsistent with any other provision contained
herein, or to make such other provisions in regard to matters or questions arising under this Agreement that shall not adversely affect the interests of the Holders of Transfer Restricted Securities. Each Holder of Transfer Restricted Securities
outstanding at the time of any such amendment, modification, supplement, waiver or consent or thereafter shall be bound by any such amendment, modification, supplement, waiver or consent effected pursuant to this Section 8(b), whether or not any
notice, writing or marking indicating such amendment, modification, supplement, waiver or consent appears on the Transfer Restricted Securities or is delivered to such Holder. 
  
 To the extent that any Notes remain outstanding, upon a merger or consolidation or sale, conveyance, transfer or lease of
all or substantially all of the properties and assets of the Company or the Subsidiary Guarantor, as the case may be, in which the Person (if other than the Company or the Subsidiary Guarantor, as the case may be) formed by such consolidation or
into which the Company or the Subsidiary Guarantor, as the case may be, is merged or the Person who acquires by sale, conveyance, transfer or lease all or substantially all of the properties and assets of the Company or the Subsidiary Guarantor, as
the case may be, assumes the obligations of the Company or the Subsidiary Guarantor, as the case may be, under the Indenture, the Notes and the Subsidiary Guarantee, as applicable, the Company or the Subsidiary Guarantor, as the case may be, shall
procure assumption of its obligations under this Agreement by such Person, and this Agreement may be amended, modified or supplemented without the consent of any Holders to provide for such assumption of the obligations of the Company or the
Subsidiary Guarantor hereunder. Without the consent of each Holder of Notes, no amendment or modification may change the provisions relating to the payment of Additional Interest. 
  
 (c) Notices. All notices and other communications provided for or permitted hereunder shall be made
in writing by hand-delivery, first-class mail, telecopier, or air courier guaranteeing overnight delivery: 
  
 (i) if to the Initial Purchasers, initially at its address set forth in the Purchase Agreement; 
  

 18 

 (ii) if to any other Holder, at the most current address of such Holder maintained by the
Registrar under the Indenture or the registrar of the Common Stock (provided that while the Securities or the Common Stock are in book-entry form, notice to the Trustee or transfer and paying agent, as the case may be, shall serve as notice to the
Holders), or, in the case of the Election Holder, the address set forth in its Election and Questionnaire; and 
  
 (iii) if to the Company or the Subsidiary Guarantor, to: 
  
 Ryerson Tull, Inc. 
 2621 West 15th Place 
 Chicago, IL 60608 
 Facsimile: (773) 788-4229 
 Attn: Legal Department 
  
 With a copy to: 
  
 Mayer, Brown, Rowe & Maw LLP 
 190 South
LaSalle Street 
 Chicago, IL 60603 
 Facsimile: (312) 701-7711 
 Attn: Philip J. Niehoff 
 e-mail: pniehoff@mayerbrown.com 
  
 All such notices and communications shall be deemed to have been duly given when received, if delivered by hand or air courier, and when sent, if sent by first-class mail or telecopier. 
  
 The Initial Purchasers or the Company and the Subsidiary Guarantor by notice
to the other may designate additional or different addresses for subsequent notices or communications. 
  
 (d) Successors and Assigns. This Agreement shall inure to the benefit of and be binding upon the successors and assigns of each of
the parties, including, without the need for an express assignment or any consent by the Company or the Subsidiary Guarantor thereto, subsequent Holders. The Company and the Subsidiary Guarantor hereby agree to extend the benefits of this Agreement
to any Holder and any such Holder may enforce the provisions of this Agreement as if an original party hereto. In the event that any other person shall succeed to the Company or the Subsidiary Guarantor under the Indenture, then such successor shall
enter into an agreement, in form and substance reasonably satisfactory to the Initial Purchasers, whereby such successor shall assume all of the Company’s or the Subsidiary Guarantor’s relative obligations under this Agreement. 

 
 (e) Counterparts. This Agreement may be executed
in any number of counterparts and by the parties hereto in separate counterparts, each of which when so executed 

  

 19 

 
shall be deemed to be an original and all of which taken together shall constitute one and the same agreement. 
  
 (f) Headings. The headings in this Agreement are for
convenience of reference only and shall not limit or otherwise affect the meaning hereof. 
  
 (g) GOVERNING LAW. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, WITHOUT
GIVING EFFECT TO THE CONFLICTS OF LAWS PROVISIONS THEREOF. 
  
 (h) Severability. In the event that any one or more of the provisions contained herein, or the application thereof in any circumstances, is held invalid, illegal or unenforceable in any respect for any reason,
the validity, legality and enforceability of any such provision in every other respect and of the remaining provisions hereof shall not be in any way impaired or affected thereby, it being intended that all of the rights and privileges of the
parties shall be enforceable to the fullest extent permitted by law. 
  
 (i) Securities Held by the Company, etc. Whenever the consent or approval of Holders of a specified percentage of original principal amount of Securities or the shares of Common Stock issuable upon conversion
thereof is required hereunder, Securities or the shares of Common Stock issued upon conversion thereof held by the Company or its Affiliates (other than subsequent Holders of Securities or the Common Stock issued upon conversion thereof if such
subsequent Holders are deemed to be Affiliates solely by reason of their holdings of such Securities) shall not be counted in determining whether such consent or approval was given by the Holders of such required percentage. 
  
 (j) Termination. This Agreement and the obligations
of the parties hereunder shall terminate upon the end of the Shelf Registration Period, except for any liabilities or obligations under Section 2(e), 4 or 5 to the extent arising prior to the end of the Shelf Registration Period. 
  

 20 

 Please confirm that the foregoing correctly sets forth the agreement among the Company, the Subsidiary
Guarantor and you. 
  

					
	 Very truly yours,

	
	RYERSON TULL, INC.
		
	By:	 	/s/ Jay M. Gratz
	 	 	 Name:
	 	 Jay M. Gratz

	 	 	 Title:
	 	 Executive Vice President and Chief Financial Officer

  

					
	RYERSON TULL PROCUREMENT CORPORATION
		
	By:	 	/s/ James M. Delaney
	 	 	 Name:
	 	 James M. Delaney

	 	 	 Title:
	 	 President

  
 The foregoing Agreement is
hereby confirmed and accepted as of the date first above written. 
  

					
	J.P. MORGAN SECURITIES INC.
	
	For itself and on behalf of the several Initial Purchasers
		
	By:	 	/s/ Jeffrey J. Zajkowski
	 	 	 Name:
	 	 Jeffrey J. Zajkowski

	 	 	 Title:
	 	 Managing DirectorPurchase Agreement

  
 Exhibit 10.1

  
 EXECUTION COPY 
  
 $145,000,000 
  
 Ryerson Tull, Inc. 
  
 3.50% Convertible Senior Notes due November 1, 2024 
  
 Purchase Agreement 
  
 November 4, 2004 
  
 J.P. Morgan Securities Inc. 
 277 Park Avenue

 9th Floor 
 New York, New York 10172 
  
 UBS Securities LLC 
 299 Park Avenue 
 New York, New York 10171 
  
 Ladies and Gentlemen: 
  
 Ryerson Tull, Inc., a Delaware corporation (the “Company”), proposes to issue and sell to the initial purchasers listed on Schedule 1
hereto (the “Initial Purchasers”), $145,000,000 principal amount of its 3.50% Convertible Senior Notes due 2024 (the “Notes”). The Notes will issued pursuant to the provisions of an Indenture to be dated as of
November 10, 2004 (the “Indenture”) among the Company, Ryerson Tull Procurement Corporation (the “Subsidiary Guarantor”) and The Bank of New York Trust Company, N.A., as Trustee (the “Trustee”). The
Notes will be guaranteed on a senior unsecured basis (the “Note Guarantee” and together with the Notes, the “Firm Securities”) by the Subsidiary Guarantor. The Company also proposes to issue and sell to the Initial
Purchasers not more than an additional $30,000,000 principal amount of its 3.50% Convertible Senior Notes due 2024 (the “Additional Notes”) if and to the extent that J.P. Morgan Securities Inc. (“JPMorgan”) on
behalf of the Initial Purchasers shall have determined to exercise the right to purchase such Additional Securities granted to the Initial Purchasers. The Additional Notes will be guaranteed on a senior unsecured basis (the “Additional
Guarantee” and together with the Additional Notes, the “Additional Securities”) by the Subsidiary Guarantor. The Firm Securities and the Additional Securities are hereinafter collectively referred to as the
“Securities”. The Securities will be convertible into shares (the “Underlying Securities”) of common stock of the Company, par value $1.00 per share (the “Common Stock”). 
  
 Each of the Underlying Securities will have attached thereto a right (the
“Rights”) to purchase one-hundredth of a share of Series D Junior Participating Preferred Stock of the Company, pursuant to a Rights Agreement, including all amendments thereto (the “Rights Agreement”) dated as of
November 24, 1997 between the Company and The Bank of New York, as the Rights Agent. All references to the Common Stock and the Underlying Securities include the Rights attached thereto pursuant to the Rights Agreement, unless neither such Rights
Agreement nor any successor rights agreement thereto relating to the Underlying Securities is in effect at the relevant time. 
  

 The Securities and the Underlying Securities will be offered without being registered under the
Securities Act of 1933, as amended (together with the rules and regulations promulgated thereunder, the “Securities Act”), only to “qualified institutional buyers” (as defined in the Securities Act) in compliance with the
exemptions therefrom. 
  
 The Initial Purchasers and their direct
and indirect transferees will be entitled to the benefits of a Registration Rights Agreement dated as of the Closing Date (as defined below) among the Company, the Subsidiary Guarantor and the Initial Purchasers (the “Registration Rights
Agreement”). 
  
 In connection with the sale of the
Securities, the Company and the Subsidiary Guarantor have prepared a preliminary offering memorandum (including the documents incorporated by reference therein, the “Preliminary Memorandum”) and will prepare a final offering
memorandum (including the documents incorporated by reference therein, the “Final Memorandum” and, together with the Preliminary Memorandum, the “Offering Memorandum”) for the information of the Initial Purchasers
and for delivery to prospective purchasers of the Securities. 
  
 The Company and the Subsidiary Guarantor hereby agree with the Initial Purchasers as follows: 
  
 1. Agreements to Sell and Purchase. The Company and the Subsidiary Guarantor agree to issue and sell the Firm Securities to the Initial Purchasers
as hereinafter provided, and each Initial Purchaser, upon the basis of the representations and warranties herein contained, but subject to the conditions hereinafter stated, agrees to purchase, severally and not jointly, from the Company and the
Subsidiary Guarantor the Firm Securities at a purchase price of 97.0% of the principal amount thereof (the “Purchase Price”) in the respective principal amount of Securities set forth opposite such Initial Purchaser’s name in
Schedule 1 hereto plus accrued interest, if any, from November 10, 2004 to the date of payment and delivery. 
  
 On the basis of the representations and warranties contained in this Agreement, and subject to its terms and conditions, the Company agrees to sell to the
Initial Purchasers the Additional Securities, and the Initial Purchasers shall have the right to purchase in whole, or from time to time in part, up to $30,000,000 principal amount of Additional Securities at the Purchase Price plus accrued
interest, if any, from the Closing Date to the date of payment and delivery. If JPMorgan, on behalf of the Initial Purchasers, exercises such option, it shall so notify the Company in writing not later than 27 days from and including the Closing
Date, which notice shall specify the principal amount of Additional Securities to be purchased by the Initial Purchasers and the date on which such Additional Securities are to be purchased. Such date may be the same as the Closing Date but not
earlier than the Closing Date nor later than 30 days from and including the Closing Date. 
  
 The Company hereby agrees that, without the prior written consent of JPMorgan, it will not, during the period ending 90 days after the date of the Final Memorandum, (i) offer, pledge, sell, contract to sell, sell any
option or contract to purchase, purchase any option or contract to sell, grant any option, right or warrant to purchase, lend, or otherwise transfer or dispose of, directly or indirectly, any shares of Common Stock or any securities convertible into
or 

  

 2 

 
exercisable or exchangeable for Common Stock, (ii) enter into any swap or other arrangement that transfers, in whole or in part, any of the economic
consequences of ownership of the Securities, the Common Stock or any securities convertible into, or exchangeable for, Common Stock, (iii) file with the Securities and Exchange Commission (the “Commission”) a registration statement
under the Securities Act relating to any additional shares of the Common Stock or securities convertible into, or exchangeable for, any shares of the Common Stock, or (iv) publicly disclose the intention to effect any transaction described in clause
(i), (ii) or (iii), whether any such transaction described in clause (i) or (ii) above is to be settled by delivery of Common Stock or such other securities, in cash or otherwise. The foregoing sentence shall not apply to (A) the issuance and sale
of the Securities under this Agreement or the issuance of the Underlying Securities upon conversion of the Securities, (B) the grant by the Company of employee or director stock options to purchase Common Stock, grants of restricted or performance
awards and stock appreciation rights pursuant to any of the Company’s employee or director stock option or similar plans as in effect on the date hereof, (C) the issuance by the Company of any shares of Common Stock upon the exercise of an
option outstanding on the date hereof or issued after the date hereof pursuant to any of the Company’s employee or director stock option or similar plans as in effect on the date hereof, (D) any securities issuable pursuant to the
Company’s preferred stock purchase rights plan, (E) the issuance of shares of Common Stock to directors of the Company in lieu of cash for compensation for their services as a director or (F) the filing of any registration statement by the
Company in respect of up to $200 million of Common Stock. 
  
 2.
Terms of the Offering. The Company understands that the Initial Purchasers intend (i) to offer privately pursuant to Rule 144A under the Securities Act their respective portions of the Securities as soon after this Agreement has become
effective as in the judgment of the Initial Purchasers is advisable and (ii) initially to offer the Securities upon the terms set forth in the Final Memorandum. 
  

The Company confirms that it has authorized the Initial Purchasers, subject to the restrictions set forth below, to distribute copies of the Offering
Memorandum in connection with the offering of the Securities. Each Initial Purchaser hereby severally but not jointly makes to the Company the following representations and agreements: 
  
 (i) it is a “qualified institutional buyer” within the meaning of Rule 144A under the Securities
Act; 
  
 (ii) offers and sales of the Securities
will be made only by it or its affiliates qualified to do so in the jurisdictions in which such offers or sales are made; 
  
 (iii) (A) it has not solicited offers for, or offered or sold, and will not solicit offers for, or offer to sell, the Securities by means
of any form of general solicitation or general advertising (as those terms are used in Regulation D under the Securities Act (“Regulation D”)) or in any manner involving a public offering within the meaning of Section 4(2) of the
Securities Act and (B) it has solicited and will solicit offers for the Securities only from, and has offered or sold and will offer, sell or deliver the Securities only to persons who it reasonably believes to be “qualified institutional
buyers” within the meaning of Rule 144A under the Securities Act that in purchasing the 

  

 3 

 
Securities are deemed to have represented and agreed as provided in the Offering Memorandum; and 
  
 (iv) at or prior to the delivery of written confirmations of
the initial resale of the Securities by the Initial Purchasers, the Initial Purchasers shall deliver to the prospective purchasers a copy of the Final Memorandum, together with all supplements and amendments thereto, provided the Company and
the Subsidiary Guarantor shall have complied with Section 5(a) hereof. 
  
 With respect to offers and sales of the Securities to “qualified institutional buyers” within the meaning of Rule 144A, as described in clause (iii)(B) above, each Initial Purchaser hereby represents and agrees with the Company
and the Subsidiary Guarantor that prior to or contemporaneously with the purchase of the Securities, such Initial Purchaser will take reasonable steps to inform, and cause each of its affiliates to take responsible steps to inform, persons acquiring
Securities from such Initial Purchaser or affiliate, as the case may be, or other person acquiring Securities from such Initial Purchaser or affiliate, as the case may be, that the Securities (A) are being sold to them in reliance on Rule 144A under
the Securities Act, (B) have not been and, except as described in the Offering Memorandum, will not be registered under the Securities Act, and (C) may not be offered, sold or otherwise transferred except as described in the Offering Memorandum.

  
 3. Payment for the Firm Securities shall be made to the
Company in Federal or other funds immediately available in New York City against delivery of such Firm Securities for the account of the Initial Purchasers at 10:00 a.m., New York City time, on November 10, 2004, or at such other time on the same or
such other date, not later than the fifth business day thereafter, as shall be designated in writing by you. The time and date of such payment are hereinafter referred to as the “Closing Date.” 
  
 Payment for any Additional Securities shall be made to the Company in Federal
or other funds immediately available in New York City against delivery of such Additional Securities for the account of the Initial Purchasers at 10:00 a.m., New York City time, on the date specified in the notice described in Section 1 or at such
other time on the same or on such other date, in any event not later than 30 days from and including the Closing Date, as shall be designated in writing by you. The time and date of such payment are hereinafter referred to as the “Option
Closing Date.” 
  
 Certificates for the Firm Securities
and Additional Securities shall be in global form and registered in such names and in such denominations as you shall request in writing not later than one full business day prior to the Closing Date or the Option Closing Date, as the case may be.
The certificates evidencing the Firm Securities and Additional Securities shall be delivered to you on the Closing Date or the Option Closing Date, as the case may be, for the account of the Initial Purchasers, with any transfer taxes payable in
connection with the transfer of the Securities to the Initial Purchasers duly paid, against payment of the Purchase Price therefor plus accrued interest, if any, to the date of payment and delivery. 
  

 4 

 4. Representations and Warranties of the Company and the Subsidiary Guarantor. The Company and the
Subsidiary Guarantor, jointly and severally, represent and warrant to each Initial Purchaser that: 
  
 (a) the Preliminary Memorandum did not, as of its date, and does not, and the Final Memorandum as of its date and in the form used by the
Initial Purchasers to confirm sales of the Securities will not as of the Closing Date, contain any untrue statement of a material fact or omit to state a material fact necessary in order to make the statements therein, in the light of the
circumstances under which they were made, not misleading; provided, however, that this representation and warranty shall not apply to any statements or omissions made in reliance upon and in conformity with information relating to any Initial
Purchaser furnished to the Company in writing by any Initial Purchaser through you expressly for use therein; 
  
 (b) the documents incorporated by reference in the Offering Memorandum, when they were filed with the Commission, conformed in all
material respects to the requirements of the Securities Exchange Act of 1934, as amended, and the rules and regulations of the Commission thereunder (the “Exchange Act”) and none of such documents contained an untrue statement of a
material fact or omitted to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading; and any further documents so filed and incorporated by reference in the Final
Memorandum, when such documents are filed with the Commission, will conform in all material respects to the requirements of the Exchange Act, and will not contain an untrue statement of a material fact or omit to state a material fact necessary to
make the statements therein, in the light of the circumstances under which they were made, not misleading; 
  
 (c) the financial statements, and the related notes thereto, of the Company included or incorporated by reference in the Offering
Memorandum present fairly, in all material respects, the consolidated financial position of the Company and its consolidated subsidiaries as of the dates indicated and the results of their operations and the changes in their consolidated cash flows
for the periods specified; and said financial statements have been prepared in conformity with generally accepted accounting principles in the United States and practices applied on a consistent basis, except as described in the notes to such
financial statements; and the supporting schedules incorporated by reference in the Offering Memorandum present fairly the information required to be stated therein in all material respects; and the other financial and statistical information and
any other financial data set forth or incorporated by reference in the Offering Memorandum present fairly, in all material respects, the information purported to be shown thereby at the respective dates or for the respective periods to which they
apply and, to the extent that such information is set forth in or has been derived from the financial statements and accounting books and records of the Company, have been prepared on a basis consistent with such financial statements and the books
and records of the Company; 
  
 (d) the financial
statements, and the related notes thereto, of Integris Metals, Inc. (“Integris”) included or incorporated by reference in the Offering Memorandum present fairly, in all material respects, the consolidated financial position of the Integris
and its consolidated subsidiaries as of the dates indicated and the results of their operations and the changes in their consolidated cash flows for the periods specified; and said financial statements have been prepared in conformity with generally
accepted accounting principles in the United 

  

 5 

 
States and practices applied on a consistent basis, except as described in the notes to such financial statements; and the supporting schedules set forth or
incorporated by reference in the Offering Memorandum present fairly the information required to be stated therein in all material respects; and the other financial and statistical information and any other financial data set forth or incorporated by
reference in the Offering Memorandum present fairly, in all material respects, the information purported to be shown thereby at the respective dates or for the respective periods to which they apply and, to the extent that such information is set
forth in or has been derived from the financial statements and accounting books and records of Integris, have been prepared on a basis consistent with such financial statements and the books and records of Integris; 
  
 (e) the unaudited pro forma condensed combined
financial information (including the related notes) included or incorporated by reference in the Offering Memorandum has been prepared in accordance with Article 11 of Regulation S-X (except as otherwise set forth in the Offering Memorandum), and
the assumptions underlying such pro forma information are reasonable and are set forth in the Offering Memorandum; 
  
 (f) otherwise than as set forth or contemplated in the Offering Memorandum, since the respective dates as of which information is given in
the Offering Memorandum, there has not been (i) any material change in the capital stock or long-term debt of the Company or any of its subsidiaries which are “significant subsidiaries” within the meaning of Regulation S-X promulgated
under the Securities Act (each, a “Significant Subsidiary” and collectively, the “Significant Subsidiaries”), or (ii) any issuance of any options, warrants, convertible securities or rights to purchase capital stock
of the Company or any of the Significant Subsidiaries, or (iii) any material adverse change, or any development involving a prospective material adverse change, in or affecting the business, financial position, stockholders’ equity or results
of operations of the Company and its subsidiaries, taken as a whole (a “Material Adverse Effect”); the Company has not declared or paid any dividends or made any distribution of any kind with respect to its capital stock, except for
the regular quarterly cash dividend of $0.05 per share of Common Stock declared by the Company on September 29, 2004; and except as set forth, incorporated by reference or contemplated in the Offering Memorandum neither the Company nor any of its
Significant Subsidiaries has entered into any transaction or agreement (whether or not in the ordinary course of business) material to the Company and its subsidiaries, taken as a whole; 
  
 (g) the Company has been duly incorporated and is validly existing as a corporation in good standing under
the laws of its jurisdiction of incorporation, with power and authority (corporate and other) to own its properties and conduct its business as described in the Offering Memorandum, and has been duly qualified as a foreign corporation for the
transaction of business and is in good standing under the laws of each other jurisdiction in which it owns or leases properties, or conducts any business, so as to require such qualification, other than where the failure to be so qualified or in
good standing would not reasonably be expected to have a Material Adverse Effect; 
  
 (h) each of the Subsidiary Guarantor and the Company’s other Significant Subsidiaries has been duly incorporated and is validly
existing as a corporation under the laws of its jurisdiction of incorporation, with power and authority (corporate and other) to own its 

  

 6 

 
properties and conduct its business as described in the Offering Memorandum, and has been duly qualified as a foreign corporation for the transaction of
business and is in good standing under the laws of each jurisdiction in which it owns or leases properties or conducts any business, so as to require such qualification, other than where the failure to be so qualified or in good standing would not
reasonably be expected to have a Material Adverse Effect; and all the outstanding shares of capital stock of the Subsidiary Guarantor and each of the other Significant Subsidiaries of the Company have been duly authorized and validly issued, are
fully paid and non assessable, and are owned by the Company, directly or indirectly, free and clear of all liens, encumbrances, security interests and claims; 
  

(i) this Agreement has been duly authorized, executed and delivered by the Company and the Subsidiary Guarantor; 
  
 (j) the Company had, at the date indicated in the Offering
Memorandum, a duly authorized, issued and outstanding capitalization as set forth in the Offering Memorandum under the caption “Capitalization” and such authorized capital stock of the Company conforms as to legal matters in all material
respects to the description thereof contained in the Final Memorandum; except as contemplated by the transactions described in the Offering Memorandum, there are no outstanding options to purchase, or any rights or warrants to subscribe for, or any
securities or obligations convertible into, or any contracts or commitments to issue or sell, any shares of Common Stock, any shares of capital stock of any subsidiary, or any such warrants, convertible securities or obligations, except as set forth
or incorporated by reference in the Offering Memorandum and except for options granted under, or contracts or commitments pursuant to, the Company’s previous or currently existing stock option and other similar officer, director or employee
benefit plans; except for this Agreement and the Registration Rights Agreement or stock purchase plans, there are no contracts, commitments, agreements, arrangements, understandings or undertakings of any kind to which the Company or the Subsidiary
Guarantor is a party, or by which either of them is bound, granting to any person the right to require either the Company or the Subsidiary Guarantor to file a registration statement under the Securities Act with respect to any securities of the
Company or the Subsidiary Guarantor or requiring the Company or the Subsidiary Guarantor to include such securities with the Securities registered pursuant to any registration statement; 
  
 (k) the shares of Common Stock outstanding on the date hereof have been duly authorized and are validly
issued, fully paid and non-assessable; 
  
 (l)
the Notes and the Additional Notes have been duly authorized by the Company, and when duly executed, authenticated, issued and delivered as provided in the Indenture (assuming due authentication of the Securities by the Trustee) and paid for as
provided herein will constitute valid and binding obligations of the Company, enforceable against it in accordance with their terms, subject to applicable bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium and similar laws
affecting creditors’ rights and remedies generally, and subject, as to enforceability, to general principles of equity, including principles of commercial reasonableness, good faith and fair dealing (regardless of whether enforcement is sought
in a proceeding at law or in equity) and will be entitled to the benefits of the Indenture; the Notes and the Additional Notes will conform in all material respects to the descriptions thereof in the Offering Memorandum; 
  

 7 

 (m) the Indenture (including the Note Guarantee and the Additional Guarantee provided
therein) has been duly authorized by the Company and the Subsidiary Guarantor, and when executed and delivered by the Company and the Subsidiary Guarantor (assuming the authorization, execution and delivery by the Trustee) will be a valid and
binding instrument of the Company and the Subsidiary Guarantor, enforceable against the Company and the Subsidiary Guarantor in accordance with its terms, subject to applicable bankruptcy, insolvency, fraudulent conveyance, reorganization,
moratorium and similar laws affecting creditors’ rights and remedies generally, and subject, as to enforceability, to general principles of equity, including principles of commercial reasonableness, good faith and fair dealing (regardless of
whether enforcement is sought in a proceeding at law or in equity); and the Indenture, the Note Guarantee and the Additional Guarantee will conform in all material respects to the description thereof in the Offering Memorandum; 
  
 (n) upon issuance and delivery of the Securities in
accordance with the Agreement and the Indenture, the Securities will be convertible at the option of the holder thereof into shares of the Underlying Securities in accordance the terms of the Securities; the Underlying Securities reserved for
issuance upon conversion of the Securities have been duly authorized and reserved and, when issued upon conversion of the Securities in accordance with the terms of the Securities, will be validly issued, fully paid and non assessable, and the
issuance of the Underlying Securities will not be subject to any preemptive or similar rights. 
  
 (o) the Registration Rights Agreement has been duly authorized by the Company and the Subsidiary Guarantor and when executed and delivered
by each of the parties thereto (assuming the due authorization, execution and delivery thereof by the Initial Purchasers) shall constitute the legal, valid and binding obligation of the Company and the Subsidiary Guarantor, enforceable against the
Company and the Subsidiary Guarantor in accordance with its terms, subject to applicable bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium and similar laws affecting creditors’ rights and remedies generally, and subject,
as to enforceability, to general principles of equity, including principles of commercial reasonableness, good faith and fair dealing (regardless of whether enforcement is sought in a proceeding at law or in equity) and except that rights to
indemnification and contribution thereunder may be limited by federal or state securities laws or public policy relating thereto; and the Registration Rights Agreement will conform in all material respects to the description thereof in the Offering
Memorandum; 
  
 (p) none of the Company, the
Subsidiary Guarantor or any of the Company’s other Significant Subsidiaries is, or with the giving of notice or lapse of time or both would be, in violation of or in default under, its Certificate of Incorporation, Bylaws or other
organizational documents or under any indenture, mortgage, deed of trust, loan agreement or other agreement or instrument to which the Company or the Subsidiary Guarantor or the Company’s other Significant Subsidiaries is a party or by which it
or any of them or any of their respective properties is bound, except for violations and defaults which individually or in the aggregate are not material to the Company and its subsidiaries, taken as a whole, or to the holders of the Securities. The
issue and sale of the Securities by the Company and the Subsidiary Guarantor and the issuance by the Company of the Underlying Securities upon conversion of the Securities and the execution and delivery of, and the performance by the Company and the
Subsidiary Guarantor of all their obligations under the Securities, the Indenture, the Registration Rights 

  

 8 

 
Agreement and this Agreement, and the consummation of the transactions herein and therein contemplated, will not (i) conflict with or result in a breach of
any of the terms or provisions of, or constitute a default under any indenture, mortgage, deed of trust, loan agreement or other agreement or instrument to which the Company or any of its Significant Subsidiaries is a party or by which the Company
or any of its Significant Subsidiaries is bound or to which any of the property or assets of the Company or any of its Significant Subsidiaries is subject, (ii) result in the creation or imposition of any lien, charge or encumbrance upon any
property or assets of the Company or any of its Significant Subsidiaries under any indenture, mortgage, deed of trust, loan agreement or other agreement or instrument to which the Company or any of its Significant Subsidiaries is a party or by which
the Company or any of its Significant Subsidiaries is bound or to which any of the property or assets of the Company or any of its Significant Subsidiaries is subject, (iii) result in any violation of the provisions of the Certificate of
Incorporation or the Bylaws of the Company or (iv) result in any violation of any applicable law or statute or any order, rule or regulation of any court or governmental agency or body having jurisdiction over the Company, its Significant
Subsidiaries or any of their respective properties except in the cases of clauses (i), (ii) and (iv) above, for such conflicts, breaches, defaults, liens, charges, encumbrances or violations that are not reasonably expected to have a Material
Adverse Effect; and no consent, approval, authorization, order, license, registration or qualification of or with any such court or governmental agency or body is required on the part of the Company and the Subsidiary Guarantor for the issue and
sale of the Securities and the issuance of the Underlying Securities by the Company or the consummation by the Company and the Subsidiary Guarantor of the transactions contemplated by this Agreement, the Registration Rights Agreement or the
Indenture, except such consents, approvals, authorizations, orders, licenses, registrations or qualifications as have been obtained or may be required under (i) state securities or Blue Sky Laws in connection with the purchase and distribution of
the Securities by the Initial Purchasers or (ii) under the Securities Act with respect to the registration of the Securities and the Underlying Securities pursuant to the terms of the Registration Rights Agreement; 
  
 (q) other than as set forth, incorporated by reference or
contemplated in the Offering Memorandum, there are no legal or governmental investigations, actions, suits or proceedings pending or, to the knowledge of the Company, threatened against or affecting the Company or any of its subsidiaries or any of
their respective properties or to which the Company or any of its subsidiaries is or may be a party or to which any property of the Company or any of its subsidiaries is or may be the subject which, if determined adversely to the Company or any of
its subsidiaries, could individually or in the aggregate, reasonably be expected to have, (i) a Material Adverse Effect, or (ii) a material adverse effect on the consummation of the transactions contemplated in this Agreement; the aggregate of all
pending legal and governmental proceedings that are not described in the Offering Memorandum to which the Company or any of its subsidiaries is a party or which affect any of their respective properties and in which there is a reasonable possibility
of an adverse decision, including ordinary routine litigation incidental to the business of the Company or any Significant Subsidiary, would not reasonably be expected to have a Material Adverse Effect; and to the best of the Company’s
knowledge, no such proceedings are threatened or contemplated by governmental authorities or threatened by others; 
  
 (r) assuming that Section 2(iii) is true and correct, neither the Company, nor any affiliate (as defined in Rule 501(b) of Regulation D)
of the Company has directly, or through any agent, sold, offered for sale, solicited offers to buy or otherwise negotiated in respect of, any 

  

 9 

 
security (as defined in the Securities Act) which is or will be integrated with the sale of the Securities in a manner that would require the registration
under the Securities Act of the offering and sale of the Securities contemplated by the Offering Memorandum; 
  
 (s) none of the Company, the Subsidiary Guarantor, any affiliate of the Company or any person (other than the Initial Purchasers, as to
which no representations or warranties are made) acting on its or their behalf has offered or sold the Securities by means of any general solicitation or general advertising within the meaning of Rule 502(c) under the Securities Act; 
  
 (t) the Securities satisfy the requirements set forth in
Rule 144A(d)(3) under the Securities Act; 
  
 (u)
assuming the accuracy of the representations of the Initial Purchasers contained in Section 2 hereof and their compliance with the agreements set forth therein, it is not necessary in connection with the offer, sale and delivery of the Securities in
the manner contemplated by this Agreement and the Offering Memorandum to register the Securities or the Underlying Securities under the Securities Act or to qualify the Indenture under the Trust Indenture Act of 1939, as amended (the
“TIA”); 
  
 (v) neither the
Company nor the Subsidiary Guarantor is and, after giving effect to the offering and sale of the Securities and the application of the proceeds thereof as described in the Offering Memorandum, will be required to register as an “investment
company” as such term is defined in the Investment Company Act of 1940, as amended; 
  
 (w) PricewaterhouseCoopers LLP, who have certified the consolidated financial statements of the Company as of February 18, 2004, are
independent public accountants as required under the Securities Act; 
  
 (x) KPMG LLP, who have certified the consolidated statements of J&F Steel as of September 17, 2004, are independent public accountants as required under the Securities Act; 
  
 (y) PricewaterhouseCoopers LLP, who have certified the
consolidated financial statements of Integris as of July 28, 2004, are independent public accountants as required under the Securities Act; 
  
 (z) the Company and its Significant Subsidiaries have filed all federal, state, local and foreign tax returns which have been required to
be filed and have paid all taxes shown thereon and all assessments received by them or any of them to the extent that such taxes have become due and are not being contested in good faith, except where the failure to do so would not have a Material
Adverse Effect; and, except as disclosed in the Offering Memorandum there is no tax deficiency that has been or might reasonably be expected to be asserted or threatened against the Company or any subsidiary; 
  
 (aa) no labor disputes exist with employees of the Company
or of its Significant Subsidiaries which would reasonably be expected to have a Material Adverse Effect; 
  

 10 

 (bb) each of the Company and its subsidiaries is in compliance with any and all
applicable foreign, federal, state and local laws and regulations relating to the protection of human health or the environment or imposing liability or standards of conduct concerning any Hazardous Material (collectively, “Environmental
Laws”), except where such non-compliance with Environmental Laws could not, singly or in the aggregate, reasonably be expected to have a Material Adverse Effect. The term “Hazardous Material” means (i) any
“hazardous substance” as defined by the Comprehensive Environmental Response, Compensation and Liability Act of 1980, as amended, (ii) any “hazardous waste” as defined by the Resource Conservation and Recovery Act,
as amended, (iii) any petroleum or petroleum product, (iv) any polychlorinated biphenyl, and (v) any pollutant or contaminant or hazardous, dangerous, or toxic chemical, material, waste or substance regulated under or within the meaning of any other
Environmental Law; 
  
 (cc) each of the Company
and its Significant Subsidiaries owns or possesses the right to use the patents, patent licenses, trademarks, service marks, trade names, copyrights and know-how (including trade secrets and other unpatented and/or unpatentable proprietary or
confidential information, systems or procedures) (collectively, the “Intellectual Property”) reasonably necessary to carry on the business conducted by each as conducted on the date hereof, except to the extent that the failure to
own or possess the right to use such Intellectual Property could not, singly or in the aggregate, reasonably be expected to have a Material Adverse Effect, and, except as set forth or incorporated by reference in the Offering Memorandum, neither the
Company nor any Significant Subsidiary has received any notice of infringement of or conflict with asserted rights of others with respect to any Intellectual Property, except for notices the content of which if accurate could not, singly or in the
aggregate, reasonably be expected to have a Material Adverse Effect; 
  
 (dd) the Company and each of its Significant Subsidiaries have all licenses, franchises, permits, authorizations, approvals and orders of and from all governmental and regulatory officials and bodies that are
necessary to own or lease and operate their properties and conduct their businesses as described in the Offering Memorandum and that are material in relation to the business of the Company and its subsidiaries, taken as a whole; 
  
 (ee) the Company and its subsidiaries have good and
marketable title in fee simple to all real property and good and marketable title to all personal property owned by them which is material to the business of the Company and its subsidiaries, in each case free and clear of all liens, encumbrances
and defects except such as are described in the Final Memorandum or such as do not interfere with the use made and proposed to be made of such property by the Company and its subsidiaries and would not have a Material Adverse Effect; and any real
property and buildings held under lease by the Company and its subsidiaries are held by them under valid, subsisting and enforceable leases with such exceptions as are not material and do not interfere in any material respects with the use made and
proposed to be made of such property and buildings by the Company and its subsidiaries, in each case except as described in the Offering Memorandum; 
  
 (ff) the Company is in compliance with all presently applicable provisions of the Employee Retirement Income Security Act of 1974, as
amended, including the regulations and published interpretations thereunder (“ERISA”), except where the failure to be in such 

  

 11 

 
compliance would not, individually or in the aggregate, have a Material Adverse Effect; no “reportable event” (as defined in ERISA) has occurred
with respect to any “pension plan” (as defined in ERISA) for which the Company would have any liability, except where such liability would not, individually or in the aggregate, have a Material Adverse Effect; except for matters that would
not, individually or in the aggregate, have a Material Adverse Effect, the Company has not incurred and does not expect to incur liability under (i) Title IV of ERISA with respect to termination of, or withdrawal from, any “pension plan”
or (ii) Section 412 or 4971 of the Internal Revenue Code of 1986, as amended, including the regulations and published interpretations thereunder (“Code”); and each “employee pension benefit plan” (within the meaning of
Section 3(2) of ERISA) for which the Company and each of its subsidiaries would have any liability that is intended to be qualified under Section 401(a) of the Code has received a favorable determination letter from the Internal Revenue Service with
respect to its qualified status and nothing has occurred, whether by action or by failure to act, which would reasonably be expected to cause the loss of such qualification; and no “prohibited transaction” (as defined in Section 406 of
ERISA or Section 4975 of Code or “accumulated funding deficiency” (as defined in section 302 of ERISA) has occurred for which the Company or any of its subsidiaries would have any material liability; 
  
 (gg) (i) the Company and each of its Significant
Subsidiaries (i) maintains a system of internal accounting controls sufficient to provide reasonable assurances that (A) transactions are executed in accordance with management’s general or specific authorization; (B) transactions are recorded
as necessary to permit preparation of financial statements in conformity with generally accepted accounting principles and to maintain accountability for assets; (C) access to assets is permitted only in accordance with management’s general or
specific authorization; and (D) the recorded accountability for assets is compared with existing assets at reasonable intervals and appropriate action is taken with respect to any differences, and (ii) the Company maintains a system of
“disclosure controls and procedures” (as such term is defined in Rule 13a-14(c) under the Exchange Act); 
  
 (hh) the information set forth in Item 1 of Part I of the Company’s Annual Report on Form 10-K for the fiscal year ended December 31,
2003 and in Item 3 of Part I of such Annual Report and in Item 1 of Part II of the Company’s Quarterly Reports on Form 10-Q filed since such Annual Report is correct in all material respects and fairly presents the information called for with
respect thereto in all material respects; and 
  
 (ii) the Company is in substantial compliance with the applicable provisions of the Sarbanes-Oxley Act of 2002 that are effective. 
  
 5. Covenants of the Company and the Subsidiary Guarantor. The Company and the Subsidiary Guarantor, jointly and severally, covenant and agree with
the Initial Purchasers as follows: 
  
 (a) to
deliver to the Initial Purchasers without charge as many copies of the Preliminary Memorandum and the Final Memorandum (including all amendments and supplements thereto and any documents incorporated by reference therein) as the Initial Purchasers
may reasonably request; 
  

 12 

 (b) before distributing any amendment or supplement to the Offering Memorandum, to
furnish to the Initial Purchasers a copy of the proposed amendment or supplement for review and (except for documents to be filed under the Exchange Act) not to distribute any such proposed amendment or supplement to which the Initial Purchasers
reasonably object; 
  
 (c) if, at any time prior
to the completion of the initial placement of the Securities by the Initial Purchasers, any event shall occur as a result of which it is necessary in the opinion of the Initial Purchasers to amend or supplement the Offering Memorandum in order that
the Final Memorandum will not include an untrue statement of a material fact or omit to state a material fact necessary in order to make the statements therein, in the light of the circumstances when the Final Memorandum is delivered to a purchaser,
not misleading, or if it is necessary to amend or supplement the Offering Memorandum to comply with law, forthwith to prepare and furnish, at the expense of the Company, to the Initial Purchasers and to the dealers (whose names and addresses the
Initial Purchasers will furnish to the Company) to whom Securities may have been sold by the Initial Purchasers on behalf of the Initial Purchasers and to any other dealers upon request, such amendments or supplements to the Final Memorandum as may
be necessary to correct such untrue statement or omission or so that the statements in the Final Memorandum as so amended or supplemented will comply with applicable law; 
  
 (d) to use its reasonable best efforts to qualify the Securities for offer and sale under the securities or
Blue Sky laws of such jurisdictions as the Initial Purchasers shall reasonably request and to continue such qualification in effect so long as reasonably required for distribution of the Securities and to pay all fees and expenses (including fees
and disbursements of counsel to the Initial Purchasers) reasonably incurred in connection with such qualification and in connection with the determination of the eligibility of the Securities for investment under the laws of such jurisdictions as
the Initial Purchasers may designate; provided that neither the Company nor the Subsidiary Guarantor shall be required to file a general consent to service of process in any jurisdiction or to qualify as a foreign corporation or otherwise
subject itself to taxation in any jurisdiction in which it is not otherwise so qualified or subject; 
  
 (e) to use the net proceeds received by the Company from the sale of the Securities pursuant to this Agreement in the manner specified in
the Offering Memorandum under the caption “Use of Proceeds”; 
  
 (f) to use its reasonable best efforts to have the Underlying Securities listed on the New York Stock Exchange; 
  
 (g) during the period from the Closing Date until two years after the later of the Closing Date, or the Option Closing Date, as the case
may be, without the prior written consent of the Initial Purchasers, the Company will not, and will not permit any of its “affiliates” (as defined in Rule 144 under the Securities Act) to, resell any of the Securities which constitute
“restricted securities” under Rule 144 that have been reacquired by any of them; 
  
 (h) whether or not the transactions contemplated in this Agreement are consummated or this Agreement is terminated, to pay or cause to be
paid all costs and expenses incident to the performance of its obligations hereunder, including without limiting the generality 

  

 13 

 
of the foregoing, all fees, costs and expenses (i) incident to the preparation, issuance, execution, authentication and delivery of the Securities, including
any expenses of the Trustee, (ii) incident to the preparation, printing and distribution of the Preliminary Memorandum and the Final Memorandum (including in each case all exhibits, amendments and supplements thereto), (iii) incurred in connection
with the registration or qualification and determination of eligibility for investment of the Securities under the laws of such jurisdictions as the Initial Purchasers may designate (including fees of counsel for the Initial Purchasers and their
disbursements), (iv) in connection with the admission for trading of the Securities on any securities exchange or inter-dealer quotation system (as well as in connection with the admission of the Securities for trading in the Private Offerings,
Resales and Trading through Automatic Linkages (“PORTAL”) system of the National Association of Securities Dealers, Inc. or any appropriate market system), (v) related to any filing with the National Association of Securities
Dealers, Inc., (vi) in connection with the printing (including word processing and duplication costs) and delivery of this Agreement, the Indenture, the Preliminary and Supplemental Blue Sky Memoranda and any Legal Investment Survey and the
furnishing to Initial Purchasers and dealers of copies of the Preliminary Memorandum and the Final Memorandum, including mailing and shipping, as herein provided, (vii) payable to rating agencies in connection with the rating of the Securities,
(viii) in connection with the listing of the Underlying Securities on the New York Stock Exchange, and (ix) any expenses incurred by the Company in connection with a “road show” presentation to potential investors (it being understood
that, except as expressly set forth in this Section 5(h) and elsewhere in this Agreement (including, but not limited to, Sections 7 and 10 hereof), the Company shall have no obligation to pay any costs and expenses of the Initial Purchasers);

  
 (i) while the Securities remain outstanding
and are “restricted securities” within the meaning of Rule 144(a)(3) under the Securities Act, the Company and the Subsidiary Guarantor will, during any period in which it is not subject to Section 13 or 15(d) under the Exchange Act, make
available to the purchasers and any holder of Securities in connection with any sale thereof and any prospective purchaser of Securities and securities analysts, in each case upon request, the information specified in, and meeting the requirements
of, Rule 144A(d)(4) under the Securities Act (or any successor thereto); 
  
 (j) neither the Company nor the Subsidiary Guarantor will take any action prohibited by Regulation M under the Exchange Act, in connection with the distribution of the Securities contemplated hereby; 
  
 (k) none of the Company, any of its affiliates (as defined
in Rule 501(b) under the Securities Act) or any person (other than the Initial Purchasers and any of their affiliates, as to which no covenant or agreement is made) acting on behalf of the Company or such affiliate will solicit any offer to buy or
offer or sell the Securities by means of any form of general solicitation or general advertising within the meaning of Regulation D, including: (i) any advertisement, article, notice or other communication published in any newspaper, magazine or
similar medium or broadcast over television or radio; and (ii) any seminar or meeting whose attendees have been invited by any general solicitation or general advertising; 
  
 (l) none of the Company, any of its affiliates (as defined in Rule 501(b) under the Securities Act) or any
person (other than the Initial Purchasers and any of their affiliates, as 

  

 14 

 
to which no covenant or agreement is made) acting on behalf of the Company or such affiliate will sell, offer for sale or solicit offers to buy or otherwise
negotiate in respect of any security (as defined in the Securities Act) which will be integrated with the sale of the Securities or the Underlying Securities in a manner which would require the registration under the Securities Act of the Securities
and the Company will take all action that is appropriate or necessary to assure that its offerings of other securities will not be integrated for purposes of the Securities Act with the offering contemplated hereby; 
  
 (m) no later than the effective date of the registration
statement for the registration of the Securities pursuant to the Registration Rights Agreement, or at such earlier time as may be so required, to qualify the Indenture under the TIA, and to enter into any necessary supplemental indentures in
connection therewith; 
  
 (n) the Company will
use its reasonable best efforts to cause the Securities to be eligible for trading on PORTAL; and 
  
 (o) to reserve and keep available at all times, free of pre-emptive rights, shares of Common Stock for the purpose of enabling the Company
and the Subsidiary Guarantor to satisfy all obligations to issue the Underlying Securities upon conversion of the Securities. 
  
 6. Conditions to the Initial Purchasers’ Obligations. The several obligations of the Initial Purchasers hereunder to purchase the Firm
Securities on the Closing Date are subject to the performance by the Company and the Subsidiary Guarantor of their respective obligations hereunder and to the following additional conditions: 
  
 (a) the representations and warranties of the Company and
the Subsidiary Guarantor contained herein are true and correct on and as of the Closing Date as if made on and as of the Closing Date and the Company and the Subsidiary Guarantor shall have complied with all agreements and all conditions on its part
to be performed or satisfied hereunder at or prior to the Closing Date; 
  
 (b) subsequent to the execution and delivery of this Agreement and prior to the Closing Date, there shall not have occurred any downgrading more than one level below the credit rating assigned at the date of execution
of this Agreement, nor shall any notice have been given of (i) any intended or potential downgrading or adverse change in outlook more than one level below the credit rating assigned at the date of execution of this Agreement or (ii) any review or
possible change that does not indicate an improvement in the rating accorded the Company, the Company’s financial strength or any securities of or guaranteed by the Company or the Subsidiary Guarantor by any “nationally recognized
statistical rating organization”, as such term is defined for purposes of Rule 436(g)(2) under the Securities Act; 
  
 (c) since the respective dates as of which information is given in the Final Memorandum (excluding any amendment or supplement thereto
after the date hereof) there shall not have been any (i) (a) material change in the capital stock or long term debt of the Company or any of the Significant Subsidiaries or (b) any change or any development involving a prospective material adverse
change, in or affecting the business, its financial condition, management or results of operations of the Company and its subsidiaries, taken as a whole 

  

 15 

 
otherwise than as set forth or incorporated by reference or contemplated in the Final Memorandum; or (ii) any suspension or material limitation of trading in
the capital stock of the Company on the New York Stock Exchange, the effect of which in the judgment of the Initial Purchasers makes it impracticable or inadvisable to proceed with the offering or the delivery of the Securities on the Closing Date
on the terms and in the manner contemplated in the Final Memorandum; 
  
 (d) the Initial Purchasers shall have received on and as of the Closing Date a certificate of an executive officer of the Company and the Subsidiary Guarantor, with specific knowledge about the Company’s or the
Subsidiary Guarantor’s, as applicable, financial matters, satisfactory to the Initial Purchasers to the effect set forth in Sections 6(a) and 6(b) and to the further effect that there has not occurred any change, or any development involving a
prospective change that would reasonably be expected to have a Material Adverse Effect other than as set forth or incorporated by reference or contemplated in the Final Memorandum; 
  
 (e) Mayer, Brown, Rowe & Maw LLP, outside counsel for the Company, shall have furnished to the Initial
Purchasers their written opinion, dated the Closing Date, in form and substance satisfactory to the Initial Purchasers, to the effect that: 
  
 (i) each of the Company and the Subsidiary Guarantor has been duly incorporated and is validly existing as a corporation in good standing
under the laws of its jurisdiction of incorporation, with power and authority (corporate and other) to own its properties and conduct its business as described in the Offering Memorandum; 
  
 (ii) each of the Company and the Subsidiary Guarantor has
all requisite corporate power and authority to execute and deliver this Agreement and the Registration Rights Agreement and to perform its obligations thereunder; the execution, delivery and performance of this Agreement and the Registration Rights
Agreement by the Company and the Subsidiary Guarantor has been duly authorized by all necessary corporate action on the part of the Company and the Subsidiary Guarantor; this Agreement has been duly and validly executed and delivered by the Company
and the Subsidiary Guarantor; and the Registration Rights Agreement has been duly and validly executed and delivered by the Company and the Subsidiary Guarantor and (assuming the due authorization, execution and delivery thereof by the Initial
Purchasers) constitutes the legal, valid and binding obligation of the Company and the Subsidiary Guarantor, enforceable against the Company and the Subsidiary Guarantor in accordance with its terms, subject to applicable bankruptcy, insolvency,
fraudulent conveyance, reorganization, moratorium and similar laws affecting creditors’ rights and remedies generally, and subject, as to enforceability, to general principles of equity, including principles of commercial reasonableness, good
faith and fair dealing (regardless of whether enforcement is sought in a proceeding at law or in equity) and except that rights to indemnification and contribution thereunder may be limited by federal or state securities laws or public policy
relating thereto; 
  
 (iii) the authorized
capital stock of the Company conforms as to legal matters in all material respects to the description thereof contained in the Final Memorandum; 
  

 16 

 (iv) the Notes and the Additional Notes have been duly authorized and, when executed by
the Company and authenticated by the Trustee in accordance with the terms of the Indenture and delivered to and paid for by the Initial Purchasers in accordance with the terms of this Agreement, will be legal, valid and binding obligations of the
Company, and enforceable against the Company in accordance with their terms, subject to applicable bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium and similar laws affecting creditors’ rights and remedies generally,
and subject, as to enforceability, to general principles of equity, including principles of commercial reasonableness, good faith and fair dealing (regardless of whether enforcement is sought in a proceeding at law or in equity) and will be entitled
to the benefits of the Indenture; 
  
 (v) the
Underlying Securities reserved for issuance upon conversion of the Securities have been duly authorized and reserved and, when issued upon conversion of the Securities in accordance with the terms of the Securities, will be validly issued, fully
paid and non-assessable and the issuance of the Underlying Securities will not be subject to any preemptive or similar rights under the Company’s Certificate of Incorporation or Bylaws or under the Delaware General Corporation Law; 

 
 (vi) the Company and the Subsidiary Guarantor have all
requisite corporate power and authority to execute and deliver the Indenture and perform their respective obligations thereunder; the execution and delivery of the Indenture has been authorized by all necessary corporate action on the part of the
Company and the Subsidiary Guarantor; the Indenture (including the Note Guarantee and the Additional Guarantee provided therein) has been duly executed and delivered by the Company and the Subsidiary Guarantor and (assuming the due authorization,
execution and delivery thereof by the Trustee) constitutes a valid and binding instrument of the Company and the Subsidiary Guarantor, enforceable against the Company and the Subsidiary Guarantor in accordance with its terms, subject to applicable
bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium and similar laws affecting creditors’ rights and remedies generally, and subject, as to enforceability, to general principles of equity, including principles of
commercial reasonableness, good faith and fair dealing (regardless of whether enforcement is sought in a proceeding at law or in equity); 
  
 (vii) each of the Indenture, the Registration Rights Agreement and the Securities conform in all material respects to the description
thereof contained in the Offering Memorandum; 
  
 (viii) to our knowledge, no consent, approval, authorization or qualification of or with any federal or state court, governmental agency or body is required for the issue and sale of the Securities and the issuance of the Underlying
Securities or the consummation by the Company and the Subsidiary Guarantor of the transactions contemplated by this Agreement, the Registration Rights Agreement or the Indenture, except such consents, approvals, authorizations, orders, licenses,
registrations or qualifications as have been obtained or may be required under (i) state securities or Blue Sky Laws in connection with the purchase and distribution of the Securities by the Initial Purchasers or (ii) the Securities Act and the TIA,
with respect to the registration of 

  

 17 

 
the Securities and the Underlying Securities pursuant to the terms of the Registration Rights Agreement; 
  
 (ix) assuming (i) the representations of the Initial
Purchasers, the Company and the Subsidiary Guarantor contained in this Agreement are true, correct and complete, (ii) compliance by the Initial Purchasers, the Company and the Subsidiary Guarantor with their respective covenants set forth in this
Agreement and (iii) the accuracy of the representations and warranties made in accordance with this Agreement and the Final Memorandum by purchasers to whom the Initial Purchasers initially resell the Securities, it is not necessary in connection
with the offer, sale and delivery of the Securities to the Initial Purchasers pursuant to this Agreement, in the manner contemplated by this Agreement and described in the Offering Memorandum, to register the Securities under the Securities Act of
1933, as amended, or to qualify the Indenture under the Trust Indenture Act of 1939, as amended; 
  
 (x) neither the Company nor the Subsidiary Guarantor is and, after giving effect to the offering and sale of the Securities and the
application of the proceeds thereof as described in the Final Memorandum, will be required to register as an “investment company” as defined in the Investment Company Act of 1940, as amended; 
  
 (xi) when the Securities are issued and delivered pursuant
to this Agreement, none of the Securities will be of the same class (within the meaning of Rule 144A under the Securities Act) as securities of the Company that are listed on a national securities exchange registered under Section 6 of the Exchange
Act or that are quoted in a United States automated inter-dealer quotation system; 
  
 (xii) the statements in the Final Memorandum under the captions “Description of notes,” “Description of capital
stock,” “Registration rights” and “Transfer Restrictions,” under Item 3 of Part I of the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2003, under Item 1 of Part II of the Company’s
Quarterly Reports on Form 10-Q filed since such Annual Report and under Item 5 of the Company’s Current Reports on Form 8-K, if any, filed since such Annual Report, insofar as such statements constitute summaries of the legal matters, documents
or proceedings referred to therein, present the information called for with respect to such legal matters, documents or proceedings; 
  
 (xiii) the statements set forth in the Offering Memorandum under the caption “Material United States federal income tax
considerations,” insofar as they purport to constitute summaries of matters of United States federal tax law and regulations or legal conclusions with respect thereto, constitute accurate summaries of the matters described therein in all
material respects; 
  
 (xiv) (A) such counsel is
of the opinion that each document incorporated by reference in the Final Memorandum (except for the financial statements and related schedules included therein as to which such counsel need express no opinion) complied as to form when filed with the
Commission in all material respects with the Exchange Act and the rules and regulations of the Commission thereunder and (B) no facts have 

  

 18 

 
come to such counsel’s attention that have caused such counsel to believe that the Final Memorandum (it being understood that such counsel expresses no
view with respect to the financial statements and other financial information contained therein or omitted therefrom), as of the date of its issuance or as of the date hereof, contained an untrue statement of a material fact or omitted to state a
material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances under which they were made, not misleading; and 
  
 (xv) neither the Company nor any of its Significant Subsidiaries is, or with the giving of notice or lapse
of time or both would be, in violation of or in default under, its Certificate of Incorporation, Bylaws or other organizational documents or any indenture, mortgage, deed of trust, loan agreement or other agreement or instrument known to such
counsel to which the Company or any of its Significant Subsidiaries is a party or by which it or any of them or any of their respective properties is bound, except for violations and defaults which individually and in the aggregate would not
reasonably be expected to have a Material Adverse Effect; the issue and sale of the Securities (including the Note Guarantee and Additional Guarantee) and the issuance by the Company of the Underlying Securities upon conversion of the Securities and
the performance by the Company and the Subsidiary Guarantor of their respective obligations under the Securities, the Indenture, the Registration Rights Agreement and this Agreement and the consummation of the transactions herein and therein
contemplated will not (w) conflict with, or result in a breach of, any of the terms or provisions of, or constitute a default under, any indenture, mortgage, deed of trust, loan agreement or other material agreement or instrument known to such
counsel to which the Company or any of its Significant Subsidiaries is a party or by which the Company or any of its Significant Subsidiaries is bound or to which any of the property or assets of the Company or any of its Significant Subsidiaries is
subject, (x) result in the creation or imposition of any lien, charge or encumbrance upon any property or assets of the Company or any of its Significant Subsidiaries under any indenture, mortgage, deed of trust, loan agreement or other material
agreement or instrument known to such counsel to which the Company or any of its Significant Subsidiaries is a party or by which the Company or any of its Significant Subsidiaries is bound or to which any of the property or assets of the Company or
any of its Significant Subsidiaries is subject, (y) result in any violation of the provisions of the Certificate of Incorporation, Bylaws or other organizational documents of the Company or (z) result in any violation of any applicable law or
statute or any order, rule or regulation of any court or governmental agency or body having jurisdiction over the Company, its Significant Subsidiaries or any of their respective properties, except in the cases of clauses (w), (x) and (z) above, for
such conflicts, breaches, defaults, liens, charges, encumbrances or violations as would not reasonably be expected to have a Material Adverse Effect. 
  
 In rendering such opinions, such counsel may rely (A) as to matters involving the application of laws other than the laws of the United States and the
States of Delaware, New York and Illinois, to the extent such counsel deems proper and to the extent specified in such opinion, if at all, upon an opinion or opinions (reasonably satisfactory to Initial Purchasers’ counsel) of other counsel
reasonably acceptable to the Initial Purchasers’ counsel, familiar with the applicable laws; and (B) as to matters of fact, to the extent such counsel deems proper, on 

  

 19 

 
certificates of responsible officers of each of the Company and the Subsidiary Guarantor and certificates or other written statements of officials of
jurisdictions having custody of documents respecting the corporate existence or good standing of the Company and the Subsidiary Guarantors. The opinion of such counsel for the Company and the Subsidiary Guarantor shall state that the opinion of any
such other counsel is in form satisfactory to such counsel and, in such counsel’s opinion, the Initial Purchasers and they are justified in relying thereon. With respect to the matters to be covered in subparagraph (xiv)(B) above, counsel may
provide the opinion in the form of negative assurance and may state their opinion and belief is based upon their participation in the preparation of the Offering Memorandum and any amendment or supplement thereto but is without independent check or
verification except as specified. 
  
 (f) Joyce
E. Mims, General Counsel of the Company, shall have furnished to the Initial Purchasers her written opinion, dated the Closing Date, in form and substance satisfactory to the Initial Purchasers, to the effect that: 
  
 (i) the Company has been duly qualified as a foreign
corporation for the transaction of business and is in good standing under the laws of each other jurisdiction in which it owns or leases properties, or conducts any business, so as to require such qualification, other than where the failure to be so
qualified or in good standing would not reasonably be expected have a Material Adverse Effect; 
  
 (ii) each of the Company’s subsidiaries has been duly incorporated and is validly existing as a corporation under the laws of its
jurisdiction of incorporation with power and authority (corporate and other) to own its properties and conduct its business as described in the Final Memorandum and has been duly qualified as a foreign corporation for the transaction of business and
is in good standing under the laws of each other jurisdiction in which it owns or leases properties, or conducts any business, so as to require such qualification, other than where the failure to be so qualified and in good standing would not
reasonably be expected to have a Material Adverse Effect; and all of the outstanding shares of capital stock of each Significant Subsidiary have been duly and validly authorized and issued, are fully paid and non assessable, and (except in the case
of foreign subsidiaries, for directors’ qualifying shares) are owned directly or indirectly by the Company, free and clear of all liens, encumbrances, equities or claims; 
  
 (iii) to the best of such counsel’s knowledge after diligent inquiry, other than as set forth,
incorporated by reference or contemplated in the Final Memorandum, there are no legal or governmental proceedings pending or threatened to which the Company or any of its subsidiaries is or may be a party or to which any property of the Company or
its subsidiaries is or may be the subject which, if determined adversely to the Company or such subsidiaries, could individually or in the aggregate reasonably be expected to have a Material Adverse Effect; 
  
 (iv) the shares of Common Stock outstanding on the Closing
Date have been duly authorized and are validly issued, fully paid and non-assessable; 
  
 (v) neither the Company nor any of its Significant Subsidiaries is, or with the giving of notice or lapse of time or both would be, in
violation of or in default 

  

 20 

 
under, its Certificate of Incorporation, Bylaws or other organizational documents or any indenture, mortgage, deed of trust, loan agreement or other
agreement or instrument known to such counsel to which the Company or any of its Significant Subsidiaries is a party or by which it or any of them or any of their respective properties is bound, except for violations and defaults which individually
and in the aggregate are not material to the Company and its subsidiaries, taken as a whole, or to the holders of the Securities; the issue and sale of the Securities (including the Note Guarantee and the Additional Guarantee) and the issuance by
the Company of the Underlying Securities upon conversion of the Securities and the performance by the Company and the Subsidiary Guarantor of their respective obligations under the Securities, the Indenture, the Registration Rights Agreement and
this Agreement and the consummation of the transactions herein and therein contemplated will not (x) conflict with or result in a breach of any of the terms or provisions of, or constitute a default under, any indenture, mortgage, deed of trust,
loan agreement or other material agreement or instrument known to such counsel to which the Company or any of its Significant Subsidiaries is a party or by which the Company or any of its Significant Subsidiaries is bound or to which any of the
property or assets of the Company or any of its Significant Subsidiaries is subject, (x) result in the creation or imposition of any lien, charge or encumbrance upon any property or assets of the Company or any of its Significant Subsidiaries under
any indenture, mortgage, deed of trust, loan agreement or other material agreement or instrument known to such counsel to which the Company or any of its Significant Subsidiaries is a party or by which the Company or any of its Significant
Subsidiaries is bound or to which any of the property or assets of the Company or any of its Significant Subsidiaries is subject; (y) result in any violation of the provisions of the Certificate of Incorporation, Bylaws or other organizational
documents of the Company or (z) result in any violation of any applicable law or statute or any order, rule or regulation of any court or governmental agency or body having jurisdiction over the Company, its Significant Subsidiaries or any of their
respective properties, except in the cases of clauses (w), (x) and (z) above, for such conflicts, breaches, defaults, liens, charges, encumbrances or violations as would not reasonably be expected to have a Material Adverse Effect; 
  
 (g) on the date of the issuance of the Final Memorandum and
also on the Closing Date, PricewaterhouseCoopers LLP shall have furnished to the Initial Purchasers letters, dated the respective dates of delivery thereof, in form and substance satisfactory to you, containing statements and information of the type
customarily included in accountants “comfort letters” to underwriters with respect to the financial statements and certain financial information contained or incorporated by reference in the Offering Memorandum; 
  
 (h) the Initial Purchasers shall have received on and as of
the Closing Date an opinion and statement of Simpson Thacher & Bartlett LLP, counsel to the Initial Purchasers, in form and substance satisfactory to you. 
  

(i) the “lock-up” agreements, each substantially in the form of Exhibit A hereto, between you and the shareholders, officers
and directors of the Company identified on Exhibit A-1 relating to sales and certain other dispositions of shares of Common Stock or certain other securities, delivered to you on or before the date hereof, shall be in full force and effect on the
Closing Date; 
  

 21 

 (j) an application for the listing of the Underlying Securities shall have been submitted
to the New York Stock Exchange; 
  
 (k) the
Securities shall have been approved for trading on PORTAL, subject only to notice of issuance at or prior to the time of purchase; 
  
 (l) The Company shall have entered into an amendment to the Company’s revolving credit agreement (the “Revolving Credit
Facility”) or shall have received a waiver of the applicable provisions of the Revolving Credit Facility, such that the Securities may be issued pursuant to this Agreement without causing an Event of Default (as defined in the Revolving
Credit Facility) under the Revolving Credit Facility (the “Bank Amendment”); 
  
 (m) the Company and the Subsidiary Guarantor shall have entered into the Registration Rights Agreement; and 
  
 (n) on or prior to the Closing Date, the Company and the
Subsidiary Guarantor shall have furnished to the Initial Purchasers such further certificates and documents as the Initial Purchasers or their counsel shall reasonably request. 
  
 The obligations of the Initial Purchaser to purchase Additional Securities hereunder are subject to the delivery to you on
the Option Closing Date of such documents as you may reasonably request including with respect to the good standing of the Company and the Subsidiary Guarantor, the due authorization, execution, authentication and issuance of the Additional
Securities and other matters related to the execution, authentication and issuance of the Additional Securities. 
  
 7. Indemnity and Contribution. The Company and the Subsidiary Guarantor jointly and severally agree to indemnify and hold harmless each Initial
Purchaser and each person, if any, who controls any Initial Purchaser within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act, from and against any and all losses, claims, damages and liabilities (including
without limitation the legal fees and other expenses incurred in connection with any suit, action or proceeding or any claim asserted) caused by any untrue statement or alleged untrue statement of a material fact contained in the Preliminary
Memorandum (and any amendment or supplement thereto) or the Final Memorandum (and any amendment or supplement thereto if the Company and the Subsidiary Guarantor shall have furnished any amendments or supplements thereto), or caused by any omission
or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, except insofar as such losses, claims, damages or liabilities are caused by any untrue statement or
omission or alleged untrue statement or omission made in reliance upon, and in conformity with, information relating to any Initial Purchaser furnished to the Company in writing by such Initial Purchaser through the Initial Purchasers expressly for
use therein; provided that the foregoing indemnity with respect to any Preliminary Offering Memorandum shall not inure to the benefit of the Initial Purchasers (or the benefit of any person controlling the Initial Purchasers) from whom the
person asserting any such losses, claims, damages or liabilities purchased Securities if such untrue statement or omission or alleged untrue statement or omission made in such Preliminary Memorandum is eliminated or remedied in the Final Memorandum
(as amended or supplemented if the Company shall have furnished any 

  

 22 

 
amendments or supplements thereto) and, if required by law in jurisdictions outside the United States, a copy of the Final Memorandum (as so amended or
supplemented) shall not have been furnished to such person at or prior to the written confirmation of the sale of such Securities to such person. 
  
 Each Initial Purchaser agrees, severally and not jointly, to indemnify and hold harmless the Company, the Subsidiary Guarantor, the directors and officers
of each of the Company and the Subsidiary Guarantor and each person who controls the Company or the Subsidiary Guarantor within the meaning of Section 15 of the Securities Act and Section 20 of the Exchange Act, to the same extent as the foregoing
indemnity from the Company and the Subsidiary Guarantor to each Initial Purchaser, but only with reference to information relating to such Initial Purchaser furnished to the Company in writing by such Initial Purchaser expressly for use in the
Offering Memorandum or any amendment or supplement thereto. 
  
 If
any suit, action, proceeding (including any governmental or regulatory investigation), claim or demand shall be brought or asserted against any person in respect of which indemnity may be sought pursuant to either of the two preceding paragraphs,
such person (the “Indemnified Person”) shall promptly notify the person against whom such indemnity may be sought (the “Indemnifying Person”) in writing, and the Indemnifying Person, upon request of the Indemnified
Person, shall retain counsel reasonably satisfactory to the Indemnified Person to represent the Indemnified Person and any others the Indemnifying Person may designate in such proceeding and shall pay the fees and expenses of such counsel related to
such proceeding. In any such proceeding, any Indemnified Person shall have the right to retain its own counsel, but the fees and expenses of such counsel shall be at the expense of such Indemnified Person unless (i) the Indemnifying Person and the
Indemnified Person shall have mutually agreed to the contrary, (ii) the Indemnifying Person has failed within a reasonable time to retain counsel reasonably satisfactory to the Indemnified Person or (iii) the named parties in any such proceeding
(including any impleaded parties) include both the Indemnifying Person and the Indemnified Person and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them. It is
understood that the Indemnifying Person shall not, in connection with any proceeding or related proceeding in the same jurisdiction, be liable for the fees and expenses of more than one separate firm (in addition to any local counsel) for all
Indemnified Persons, and that all such fees and expenses shall be reimbursed as they are incurred. Any such separate firm for the Initial Purchasers and such control persons of the Initial Purchasers shall be designated in writing by JPMorgan and
any such separate firm for the Company and the Subsidiary Guarantor, the directors and officers of the Company and the Subsidiary Guarantor and such control persons of the Company and the Subsidiary Guarantor shall be designated in writing by the
Company. The Indemnifying Person shall not be liable for any settlement of any proceeding effected without its written consent, but if settled with such consent or if there be a final judgment for the plaintiff, the Indemnifying Person agrees to
indemnify any Indemnified Person from and against any loss or liability by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at any time an Indemnified Person shall have requested an Indemnifying Person to reimburse
the Indemnified Person for fees and expenses of counsel as contemplated by the third sentence of this paragraph, the Indemnifying Person agrees that it shall be liable for any settlement of any proceeding effected without its written consent if (i)
such settlement is entered into more than 30 days after receipt by such Indemnifying Person of the aforesaid request and (ii) such Indemnifying Person 

  

 23 

 
shall not have reimbursed the Indemnified Person in accordance with such request prior to the date of such settlement. No Indemnifying Person shall, without
the prior written consent of the Indemnified Person, effect any settlement of any pending or threatened proceeding in respect of which any Indemnified Person is or could have been a party and indemnity could have been sought hereunder by such
Indemnified Person, unless such settlement includes an unconditional release of such Indemnified Person from all liability on claims that are the subject matter of such proceeding on terms reasonably satisfactory to such Indemnified Person.

  
 If the indemnification provided for in the first and second
paragraphs of this Section 7 is unavailable to an Indemnified Person or insufficient in respect of any losses, claims, damages or liabilities referred to therein, then each Indemnifying Person under such paragraph, in lieu of indemnifying such
Indemnified Person thereunder, shall contribute to the amount paid or payable by such Indemnified Person as a result of such losses, claims, damages or liabilities (i) in such proportion as is appropriate to reflect the relative benefits received by
the Company and the Subsidiary Guarantor on the one hand and the Initial Purchasers on the other hand from the offering of the Securities or (ii) if the allocation provided by clause (i) above is not permitted by applicable law, in such proportion
as is appropriate to reflect not only the relative benefits referred to in clause (i) above but also the relative fault of the Company and the Subsidiary Guarantor on the one hand and the Initial Purchasers on the other in connection with the
statements or omissions that resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative benefits received by the Company and the Subsidiary Guarantor on the one hand and the Initial
Purchasers on the other shall be deemed to be in the same respective proportions as the net proceeds from the offering of such Securities (before deducting expenses) received by the Company and the total discounts and commissions received by the
Initial Purchasers bear to the aggregate offering price of the Securities. The relative fault of the Company and the Subsidiary Guarantor on the one hand and the Initial Purchasers on the other shall be determined by reference to, among other
things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Company or the Subsidiary Guarantor or by the Initial Purchasers and the
parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. 
  
 The Company, the Subsidiary Guarantor and the Initial Purchasers agree that it would not be just and equitable if contribution pursuant to this Section 7
were determined by pro rata allocation (even if the Initial Purchasers were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in the immediately
preceding paragraph. The amount paid or payable by an Indemnified Person as a result of the losses, claims, damages and liabilities referred to in the immediately preceding paragraph shall be deemed to include, subject to the limitations set forth
above, any legal or other expenses incurred by such Indemnified Person in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 7, in no event shall an Initial Purchaser be required to
contribute any amount in excess of the amount by which the total price at which the Securities purchased by it were offered exceeds the amount of any damages that such Initial Purchaser has otherwise been required to pay by reason of such untrue or
alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such
fraudulent misrepresentation. The 

  

 24 

 
Initial Purchasers’ obligations to contribute pursuant to this Section 7 are several in proportion to the respective principal amount of the Securities
set forth opposite their names in Schedule I hereto, and not joint. 
  
 The remedies provided for in this Section 7 are not exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party at law or in equity. 
  
 The indemnity and contribution agreements contained in this Section 7 and the
representations and warranties of the Company, the Subsidiary Guarantor and the Initial Purchasers set forth in this Agreement shall remain operative and in full force and effect regardless of (i) any termination of this Agreement, (ii) any
investigation made by or on behalf of any Initial Purchaser or any person controlling any Initial Purchaser or by or on behalf of the Company, the Subsidiary Guarantor, the officers or directors of each of the Company and the Subsidiary Guarantor or
any other person controlling the Company and the Subsidiary Guarantor and (iii) acceptance of and payment for any of the Securities. 
  
 8. Termination. Notwithstanding anything herein contained, this Agreement may be terminated in the absolute discretion of the Initial Purchasers,
by notice given to the Company, if after the execution and delivery of this Agreement and prior to the closing of the Offering (i) trading generally shall have been suspended or materially limited on or by, as the case may be, any of the New York
Stock Exchange, the American Stock Exchange, the National Association of Securities Dealers, Inc., the Chicago Board Options Exchange, the Chicago Mercantile Exchange or the Chicago Board of Trade, (ii) trading of any securities of or guaranteed by
the Company and the Subsidiary Guarantor shall have been suspended on any exchange or in any over the counter market, (iii) a general moratorium on commercial banking activities in New York shall have been declared by either Federal or New York
State authorities, or (iv) there shall have occurred any outbreak or escalation of hostilities or any change in financial markets or any calamity or crisis that, in the judgment of the Initial Purchasers, is material and adverse and which, in the
judgment of the Initial Purchasers, makes it impracticable to offer, sell or deliver the Securities on the terms and in the manner contemplated in the Final Memorandum or to enforce contracts for the sale of the Securities. 
  
 9. Effectiveness; Defaulting Initial Purchasers. This Agreement shall
become effective upon the execution and delivery hereof by the parties hereto. 
  
 If, on the Closing Date either of the Initial Purchasers shall fail or refuse to purchase Securities which it has agreed to purchase hereunder on such date, and the aggregate principal amount of Securities which such
defaulting Initial Purchaser agreed but failed or refused to purchase is not more than one-tenth of the aggregate principal amount of the Securities to be purchased on such date, the other Initial Purchaser shall be obligated to purchase the
Securities which such defaulting Initial Purchaser agreed but failed or refused to purchase on such date; provided that in no event shall the principal amount of Securities that any Initial Purchaser has agreed to purchase pursuant to Section
1 be increased pursuant to this Section 9 by an amount in excess of one-tenth of such principal amount of Securities without the written consent of such Initial Purchaser. If, on the Closing Date any Initial Purchaser shall fail or refuse to
purchase Securities which it or they have agreed to purchase hereunder on such date, and the aggregate principal amount of Securities with respect to which such default occurs is more than one-tenth 

  

 25 

 
of the aggregate principal amount of Securities to be purchased on such date, and arrangements satisfactory to the Initial Purchasers and the Company for the
purchase of such Securities are not made within 36 hours after such default, this Agreement shall terminate without liability on the part of the non-defaulting Initial Purchaser or the Company. In any such case either the Initial Purchasers or the
Company shall have the right to postpone the Closing Date, but in no event for longer than seven days, in order that the required changes, if any, in the Final Memorandum or in any other documents or arrangements may be effected. Any action taken
under this paragraph shall not relieve any defaulting Initial Purchaser from liability in respect of any default of such Initial Purchaser under this Agreement. 
  

10. Reimbursement. If this Agreement shall be terminated by the Initial Purchasers, or any of them, because of any failure or refusal on the
part of the Company or any of the Subsidiary Guarantor to comply with the terms or to fulfill any of the conditions of this Agreement, or if for any reason the Company or the Subsidiary Guarantor shall be unable to perform its obligations under this
Agreement or any condition of the Initial Purchasers’ obligations cannot be fulfilled, the Company and the Subsidiary Guarantor jointly and severally agree to reimburse the Initial Purchasers or such Initial Purchaser as has so terminated this
Agreement with respect to itself, severally, for all out of pocket expenses (including the reasonable fees and expenses of their counsel) incurred by such Initial Purchasers in connection with this Agreement or the offering contemplated hereunder.

  
 11. Parties. This Agreement shall inure to the benefit
of and be binding upon the Company, the Subsidiary Guarantor, the Initial Purchasers, any controlling persons referred to herein and their respective successors and assigns. Nothing expressed or mentioned in this Agreement is intended or shall be
construed to give any other person, firm or corporation any legal or equitable right, remedy or claim under or in respect of this Agreement or any provision herein contained. No purchaser of Securities from any Initial Purchaser shall be deemed to
be a successor by reason merely of such purchase. 
  
 12.
Notices. Any action by the Initial Purchasers hereunder may be taken by the Representative on behalf of the Initial Purchasers, and any such action taken by the Representative shall be binding upon the Initial Purchasers. All notices and
other communications hereunder shall be in writing and shall be deemed to have been duly given if mailed or transmitted by any standard form of telecommunication. Notices to the Initial Purchasers shall be given to the Initial Purchasers c/o J.P.
Morgan Securities Inc., 277 Park Avenue, 9th Floor, New York, New York 10172 (telefax: (212) 622-8358); Attention: Syndicate Desk. Notices to the Company and the Subsidiary Guarantor shall be given to it at 2621 West 15th Place, Chicago, IL 60608; Attention: Treasurer. 
  
 13. Governing Law. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE
STATE OF NEW YORK. 
  
 14. Counterparts. This Agreement
may be signed in counterparts, each of which shall be an original and all of which together shall constitute one and the same instrument. 
  

 26 

 If the foregoing is in accordance with your understanding, please sign and return four counterparts
hereof. 
  

					
	 Very truly yours,

	
	 Ryerson Tull, Inc.

		
	By:	 	 /s/ Jay M. Gratz

	 	 	 Name:
	 	 Jay M. Gratz

	 	 	 Title:
	 	 Executive Vice President and Chief Financial Officer

	
	 Ryerson Tull Procurement Corporation

		
	By:	 	 /s/ Terence R. Rogers

	 	 	 Name:
	 	 Terence R. Rogers

	 	 	 Title:
	 	 Vice President and Treasurer

  

					
	The foregoing Purchase Agreement is hereby confirmed and accepted as of the date first above written.
	
	J.P. MORGAN SECURITIES INC.
		
	By:	 	 /s/ Jeffrey J. Zajkowski

	 	 	 Name:
	 	 Jeffrey J. Zajkowski

	 	 	 Title:
	 	 Managing Director

	
	 UBS SECURITIES LLC

		
	By:	 	 /s/ Dieter Hoeppli

	 	 	 Name:
	 	 Dieter Hoeppli

	 	 	 Title:
	 	 Executive Director

		
	By:	 	 /s/ Jonathan Rose

	 	 	 Name:
	 	 Jonathan Rose

	 	 	 Title:
	 	 Director

  

  
 SCHEDULE 1 

 

				
	 Initial Purchaser

	  	Principal
Amount of
Securities

	 J.P. Morgan Securities Inc.
	  	$	87,000,000
	 UBS Securities LLC
	  	 	58,000,000
	 	  	
	

	 Total
	  	$	145,000,000

  

  
 EXHIBIT A 

 
 [FORM OF LOCK-UP LETTER] 
  
                     , 2004 
  
 J.P. Morgan Securities Inc. 
 277 Park Avenue 
 9th Floor 
 New York, New York 10172 
  
 Dear Sirs and Mesdames: 
  
 The undersigned understands that J.P. Morgan Securities Inc. (“J.P. Morgan”) and UBS Securities LLC propose
to enter into a Purchase Agreement (“Purchase Agreement”) with Ryerson Tull, Inc., a Delaware corporation (the “Company”) and Ryerson Tull Procurement Corporation, a Delaware corporation, providing for the offering
(the “Offering”) by the Initial Purchasers, including J.P. Morgan (the “Initial Purchasers”) of 3.50% Convertible Notes due 2024 of the Company (the “Securities”). The Securities will be convertible
into shares of common stock of the Company, par value $1.00 per share (the “Common Stock”). 
  
 To induce the Initial Purchasers that may participate in the Offering to continue their efforts in connection with the Offering, the undersigned hereby
agrees that, without the prior written consent of J.P. Morgan on behalf of the Initial Purchasers, it will not, during the period commencing on the date hereof and ending 90 days after the date of the final offering memorandum relating to the
Offering (the “Final Memorandum”), (1) offer, pledge, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right or warrant to purchase, lend, or otherwise
transfer or dispose of, directly or indirectly, any shares of Common Stock or any securities convertible into or exercisable or exchangeable for Common Stock or (2) enter into any swap or other arrangement that transfers to another, in whole or in
part, any of the economic consequences of ownership of the Common Stock, whether any such transaction described in clause (1) or (2) above is to be settled by delivery of Common Stock or such other securities, in cash or otherwise. The foregoing
sentence shall not apply to (a) transfers of Common Stock or any securities convertible into or exercisable or exchangeable for Common Stock by gift, will or intestacy, including, without limitation, transfers by gift, will or intestacy to immediate
family members of the undersigned or to a settlement or trust established under the laws of any jurisdiction, (b) transfers of Common Stock or any securities convertible into or exercisable or exchangeable for Common Stock to any trust, partnership
or other entity for the direct or indirect benefit of the undersigned or the immediate family members of the undersigned, (c) transfers of Common Stock to the Company in satisfaction of the exercise price of stock options granted by the Company to
the undersigned, (d) any “cashless exercise” of options in securities of the Company or any “net exercise” of options in securities of the Company, provided, however, that no such transaction shall involve the sale of securities
of the Company into the open market or (e) any transaction described in clause 1 or 2 above, provided that the shares of Common Stock related to such transaction when aggregated with the shares of Common Stock related to transactions described in
clause 1 or 2 by persons who have entered into a lock-up agreement substantially in the form of this Lock-Up 

  

 A-1 

 
Agreement, as listed on Exhibit A-1 to the Purchase Agreement, do not exceed 250,000; provided that in the event of any such transfer pursuant to
clause (a) or (b), the transferee, the trustee of the trust or the authorized officer of the partnership or other entity shall enter into a lock-up agreement substantially in the form of this Lock-Up Agreement covering the remainder of the 90-day
period referred to herein and such transfer does not involve a disposition for value. In addition, the undersigned agrees that, without the prior written consent of J.P. Morgan on behalf of the Initial Purchasers, it will not, during the period
commencing on the date hereof and ending 90 days after the date of the Final Memorandum, make any demand for, or exercise any right with respect to, the registration of any shares of Common Stock or any security convertible into or exercisable or
exchangeable for Common Stock. The undersigned also agrees and consents to the entry of stop transfer instructions with the Company’s transfer agent and registrar against the transfer of the undersigned’s shares of Common Stock except in
compliance with the foregoing restrictions. 
  
 The undersigned
understands that the Company and the Initial Purchasers are relying upon this Lock-Up Agreement in proceeding toward consummation of the Offering. The undersigned further understands that this Lock-Up Agreement is irrevocable and shall be binding
upon the undersigned’s heirs, legal representatives, successors and assigns. 
  

 A-2 

 Whether or not the Offering actually occurs depends on a number of factors, including market conditions.
Any offering will only be made pursuant to a Purchase Agreement, the terms of which are subject to negotiation between the Company and the Initial Purchasers. 
  

			
	 Very truly yours,

	
	 
	 (Name)
	 	 
	
	 
	 (Address)
	 	 

  

 A-3 

  
 EXHIBIT A-1 

 
 PERSONS SUBJECT TO LOCK-UP 
  
 Jameson A. Baxter 
  
 Richard G. Cline 
  
 James M. Delaney 
  
 Russell M. Flaum 
  
 Jay M. Gratz 
  
 James A. Henderson 
  
 Gregory P. Josefowicz 
  
 William Korda 
  
 Robert M. Lampi 
  
 Stephen E. Makarewicz

  
 Lily L. May 
  
 Martha Miller De Lombera 
  
 Joyce E. Mims 
  
 Gary J. Niederpruem 
  
 Neil S. Novich 

 
 Jerry K. Pearlman 
  
 Terence R. Rogers 
  
 Anre D. Williams 
  
 Darell R. Zerbe

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