Document:

Joinder Agreement and Supplement to Amended and Restated Credit Agmt

 Exhibit 10.8 
 EXECUTION COPY 
 JOINDER AGREEMENT AND SUPPLEMENT TO

 AMENDED AND RESTATED CREDIT AND SECURITY AGREEMENT 
 THIS JOINDER AGREEMENT AND SUPPLEMENT TO AMENDED AND RESTATED CREDIT AND SECURITY AGREEMENT (“Agreement”) is made and entered into as of May
31, 2006, by and among LOCKWOOD ACQUISITION, LLC, a Delaware limited liability company (“Lockwood Acquisition”), CLINTON & LOCKWOOD, LTD., a Texas limited partnership (“C&L”), METALS SUPPLY COMPANY,
LTD., a Texas limited partnership (“Metals Supply”), and MSC MANAGEMENT, INC., a Texas corporation (“MSC”; Lockwood Acquisition, C&L, Metals Supply and MSC are hereinafter referred to collectively as “New
Borrowers” and each individually as a “New Borrower”); PNA GROUP, INC., a Delaware corporation and successor by merger to Travel Merger Corporation (“PNA”), SMITH PIPE & STEEL COMPANY, an Arizona
corporation (“Smith”), INFRA-METALS CO., a Georgia corporation (“Infra-Metals”), FERALLOY CORPORATION, a Delaware corporation (“Feralloy”), DELTA STEEL L.P., a Texas limited partnership (“Delta
Steel”), DELTA GP, L.L.C., a Texas limited liability company (“Delta GP”), DELTA LP, L.L.C., a Delaware limited liability company (“Delta LP”), DELNOR CORPORATION, a Texas corporation
(“Delnor”), and TRAVEL MAIN CORPORATION, a Delaware corporation (“Travel Main”; PNA, Smith, Infra-Metals, Feralloy, Delta Steel, Delta GP, Delta LP, Delnor, and Travel Main are hereinafter referred to collectively as
“Existing Borrowers” and each individually as an “Existing Borrower”; New Borrowers and Existing Borrowers are hereinafter referred to collectively as “Borrowers” and each individually as a “Borrower”); the
various financial institutions party from time to time to the Credit Agreement (as hereinafter defined) as lenders (together with their respective successors and assigns, “Lenders”); and BANK OF AMERICA, N.A., a national banking
association, in its capacity as collateral and administrative Agent for the Lenders (together with its successors in such capacity, “Administrative Agent”). 
 Recitals: 
 Administrative Agent, Lenders, Existing Borrowers and the other Agents named
therein are parties to a certain Amended and Restated Credit and Security Agreement (as at any time amended, restated, modified or supplemented, the “Credit Agreement”), pursuant to which Lenders have made certain Revolver Loans, Term
Loans and letter of credit accommodations to Existing Borrowers. New Borrowers are executing this Agreement to become parties to the Credit Agreement and in order to induce Lenders to continue to extend credit under the Credit Agreement and as
consideration for the financial accommodations previously made. 
 Accordingly, in consideration of the Credit Agreement, for Ten Dollars
($10.00) in hand paid and other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged by the parties hereto, Administrative Agent, Lenders, Existing Borrowers and New Borrowers agree as follows: 
 1) Definitions; Certain Matters of Construction. Each capitalized term used in this Agreement, unless otherwise defined herein, shall have
the meaning ascribed to such term in the Credit Agreement. The terms “herein,” “hereof” and “hereunder” and other words of similar import refer to this Agreement as a whole and not to any particular section, paragraph
or subdivision. All references to any Person shall mean and include the successors and permitted assigns of such Person. All references to any of the Credit Documents shall include any and all amendments or modifications thereto and any and all
restatements, extensions or renewals thereof. Wherever the phrase “including” shall appear in this Agreement, such word shall be understood to mean “including, without limitation.” 

 2) Addition of New Borrowers. By its execution and delivery of this Agreement, each New
Borrower (a) acknowledges and agrees that, as of the Agreement Effective Date (as hereinafter defined), it is a “Borrower” under the Credit Agreement with the same force and effect as if originally named therein as a
“Borrower,” (b) covenants with Administrative Agent and Lenders that it will observe and perform the terms and provisions of the Credit Agreement to the same extent as if it were an original party thereto, and (c) confirms that
it has received a copy of the Credit Agreement. The parties hereto agree that each reference in the Credit Agreement and the other Credit Documents to “Borrower,” “Borrowers” or terms of similar import shall be deemed to include
each New Borrower. 
 3) Joint and Several Liability; Borrower Agent. Each New Borrower acknowledges that it has requested
Lenders to extend financial accommodations to it and to the other Borrowers on a combined basis in accordance with the provisions of the Credit Agreement, as hereby amended. In accordance with the terms of the Credit Agreement, each New Borrower
acknowledges and agrees that, as of the Agreement Effective Date (as hereinafter defined), it shall be jointly and severally liable for any and all Loans and other Obligations heretofore or hereafter made or extended by Administrative Agent and
Lenders to any and all of the Borrowers and for all interest, fees and other charges payable in connection therewith. Each New Borrower hereby irrevocably appoints and designates PNA, and PNA agrees to act, as the agent and representative of such
New Borrower for all purposes under the Credit Agreement, including requesting Borrowings, selecting whether any Loan or portion thereof is to bear interest as a Base Rate Loan or a LIBOR Loan, and receiving account statements and other notices and
communications to Borrowers (or any of them) from Administrative Agent. 
 4) Grant of Security Interest. 
 (a) To secure the prompt payment and performance of all of the Obligations and subject to the terms of Section 7.7 of the Credit Agreement, each
New Borrower hereby grants to Administrative Agent, for the benefit of Secured Parties, a continuing security interest in and Lien upon all personal property of such New Borrower, including all of the following Property and interests in Property of
such New Borrower, whether now owned or existing or hereafter created, acquired or arising and wheresoever located: 
 (i) all
Accounts; 
 (ii) all Goods, including all Inventory and Equipment; 
 (iii) all Instruments; 
 (iv) all Commercial Tort Claims; 
 (v) all Supporting Obligations; 
 (vi) all Chattel Paper, including Electronic Chattel Paper and Tangible Chattel Paper; 
 (vii) all Documents; 
 (viii) all General Intangibles, including Payment Intangibles and Software; 
 (ix) all Intellectual Property;

  

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 (x) all Deposit Accounts; 
 (xi) all Investment Property (but excluding any portion thereof that constitutes Margin Stock unless otherwise expressly provided in any
Security Documents); 
 (xii) all Letter-of-Credit Rights; 
 (xiii) all monies now or at any time or times hereafter in the possession or under the control of an Agent or a Lender or a bailee or
Affiliate of Agent or a Lender, including any Cash Collateral in the Cash Collateral Account; 
 (xiv) all accessions to,
substitutions for and all replacements, products and cash and non-cash proceeds of (i) through (xiii) above, including proceeds of and unearned premiums with respect to insurance policies insuring any of the Collateral and claims against
any Person for loss of, damage to or destruction of any of the Collateral; and 
 (xv) all books and records (including
customer lists, files, correspondence, tapes, computer programs, print-outs, and other computer materials and records) of such Borrower pertaining to any of (i) through (xiv) above. 
 5) Release of Liens Against Lockwood Acquisition and C&L. Notwithstanding the foregoing, upon the satisfaction of each of the PropCo
Release Conditions as determined by Administrative Agent, each of Lockwood Acquisition and C&L shall cease to be an Obligor under the Credit Documents and all Liens of Administrative Agent and the other Secured Parties in the Property of
Lockwood Acquisition and C&L shall be released. In such event, Administrative Agent shall promptly file releases of mortgages, Uniform Commercial Code termination statements, releases or terminations with the United States Patent and Trademark
Office and any other documentation necessary to evidence the release of such Liens. 
 6) Ratification and Reaffirmation. Each
Borrower hereby ratifies and reaffirms the Obligations, each of the Credit Documents and all of such Borrower’s covenants, duties, indebtedness and liabilities under the Credit Documents. 
 7) Acknowledgments and Stipulations. Each Borrower acknowledges and stipulates that all of the Obligations are owing and payable without
defense, offset or counterclaim (and to the extent there exists any such defense, offset or counterclaim on the date hereof, the same is hereby waived by such Borrower) and that the security interests and Liens granted by each Borrower in favor of
Administrative Agent are duly perfected, first priority security interests and Liens. 
 8) Representations and Warranties. To
induce Administrative Agent and Lenders to enter into this Agreement, each Borrower hereby makes the following representations and warranties to Administrative Agent and Lenders, which representations and warranties shall survive the delivery of
this Agreement and the making of additional Loans under the Credit Agreement as amended hereby: 
 (a) Authorization of Agreements.
Each Borrower has the right and power, and has taken all necessary action to authorize it, to execute, deliver and perform this Agreement and each other agreement contemplated hereby to which it is a party in accordance with their respective terms.
This Agreement and each other such agreement contemplated hereby to which it is a party has been duly executed and delivered by the duly authorized officers of such Borrower and each is, or each when executed and delivered in accordance with this
Agreement will be, a legal, valid and binding obligation of such Borrower, enforceable in accordance with its terms. 
  

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 (b) Compliance of Agreements with Laws. The execution, delivery and performance of this Agreement
and each other agreement contemplated hereby in accordance with their respective terms do not and will not, by the passage of time, the giving of notice or otherwise, 
 (i) require any Governmental Approval (other than the filing of UCC financing statements and the recordation of mortgages, deeds to secure
debt or deeds of trust, as applicable) that has not been obtained or violate any Applicable Law relating to such Borrower or any of its Subsidiaries; 
 (ii) conflict with, result in a breach of or constitute a default under the articles or certificate of incorporation or by-laws or other constituent documents or any shareholders’ or members’ agreement of
such Borrower or any of its Subsidiaries, any material provisions of any indenture, agreement or other instrument to which such Borrower, any of its Subsidiaries or any of such Borrower’s or such Subsidiaries’ Property may be bound or any
Governmental Approval relating to such Borrower or any of its Subsidiaries; or 
 (iii) result in or require the creation or
imposition of any Lien upon or with respect to any Property now owned or hereafter acquired by such Borrower other than the security interests and Liens granted to Administrative Agent. 
 (c) Schedules. The Schedules attached hereto contain true, accurate and complete information with respect to Borrowers and the matters represented
and warranted by Borrowers pursuant to Section 9 of the Credit Agreement and such Schedules shall be deemed to supplement and be a part of the Schedules to the Credit Agreement. 
 (d) Assets. C&L has no material assets of any kind other than real property and improvements thereon and its rights under lease agreements
with respect to such real property, and Lockwood Acquisition has no material assets of any kind other than its limited partnership interests in C&L. 
 (e) No Defaults. After giving effect to this Agreement and to the updated Schedules attached hereto, no Default or Event of Default exists on the date hereof and all of the representations and warranties made
by each Borrower in the Credit Agreement are true and correct on and as of the date hereof. 
 9) Additional Covenants. To
induce Administrative Agent and Lenders to enter into this Agreement, each Borrower covenants and agrees to deliver to Administrative Agent, on or before the date hereof, each of the following documents, in form and substance satisfactory to
Administrative Agent, and, where applicable, in sufficient copies for each Lender: 
 (a) Notes. An allonge to each Note outstanding
under the Credit Agreement, duly executed by each New Borrower; 
 (b) Pledge Agreement. An amendment or supplement to the applicable
Pledge Agreement, pursuant to which PNA, MSC, Travel Main and Lockwood Acquisition pledge to Administrative Agent all of the issued and outstanding shares of capital stock, partnership interests or other equity interest of each New Borrower as
security for the Obligations, together with all certificates and stock powers, undated and in blank, required to be delivered in connection with the execution and delivery of such amendment or supplement; 
  

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 (c) Organization Documents; Resolutions. Copies of the charter, certificate or articles of
incorporation or organization of each New Borrower, certified by the Secretary of State or other appropriate official of the jurisdiction of such New Borrower’s state of organization, and copies of all other Organization Documents and all
amendments thereto, and certified copies of resolutions of each New Borrower’s board of directors or general partner, duly authorizing and empowering such New Borrower to enter into, execute, deliver and perform this Agreement and each of the
other Credit Documents to which it is a party; 
 (e) Good Standing Certificates. Good standing certificates for each New Borrower,
issued by the Secretary of State or other appropriate official of such New Borrower’s jurisdiction of organization and each jurisdiction where the conduct of such New Borrower’s business activities or ownership of its property necessitates
qualification; 
 (f) Opinion Letters. The favorable, written opinions of counsel to the Borrowers, as to the due authorization,
execution and delivery of this Agreement and the other Credit Documents contemplated hereby to be delivered in connection herewith, as to the enforceability of this Agreement, the Credit Agreement as amended hereby and such other Credit Documents,
and such other matters as any Lender through Administrative Agent may reasonably request; 
 (g) Other Documents. Such other documents
and instruments as Administrative Agent or any Lender may reasonably request, including, without limitation, the other documents required by the First Consent Letter and First Amendment to Amended and Restated Credit and Security Agreement of even
date herewith among Existing Borrowers, Lenders party thereto and Administrative Agent. 
 10) References to Credit Agreement.
Upon the effectiveness of this Agreement, each reference in the Credit Agreement to “this Agreement,” “hereunder,” or words of like import shall mean and be a reference to the Credit Agreement, as amended by this Agreement.

 11) Breach of Agreement. This Agreement shall be part of the Credit Agreement and a breach of any representation, warranty
or covenant herein shall constitute an Event of Default. 
 12) Effectiveness of Agreement; Governing Law. The provisions of
this Agreement shall become effective as of the date hereof on the first date (the “Agreement Effective Date”) on which Administrative Agent shall have received duly executed and delivered counterparts of this Agreement from each of the
Borrowers. Upon effectiveness, this Agreement shall be governed by and construed in accordance with the internal laws of the State of Georgia. 
 13) Expenses of Administrative Agent. Borrowers jointly and severally agree to pay, on demand, all costs and expenses incurred by Administrative Agent in connection with the preparation, negotiation and execution of
this Agreement and any other Credit Documents executed pursuant hereto and any and all amendments, modifications, and supplements thereto, including, without limitation, the costs and fees of Administrative Agent’s legal counsel and any taxes
or expenses associated with or incurred in connection with any instrument or agreement referred to herein or contemplated hereby. 
 14)
Successors and Assigns. This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns. 
 15) No Novation, etc. Except as otherwise expressly provided in this Agreement, nothing herein shall be deemed to amend or modify any provision of the Credit Agreement or any of the other Credit
Documents, each of which shall remain in full force and effect. This Agreement is not intended to be, nor shall it be construed to create, a novation or accord and satisfaction, and the Credit Agreement as herein modified shall continue in full
force and effect. 
  

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 16) Severability. In case any provision in or obligation under this Agreement shall be
invalid, illegal or unenforceable in any jurisdiction, the validity, legality and enforceability of the remaining provisions or obligations, or of such provision or obligation in any other jurisdiction, shall not in any way be affected or impaired
thereby. 
 17) Counterparts; Telecopied Signatures. This Agreement may be executed in any number of counterparts and by
different parties to this Agreement on separate counterparts, each of which, when so executed, shall be deemed an original, but all such counterparts shall constitute one and the same agreement. Any signature delivered by a party by facsimile
transmission shall be deemed to be an original signature hereto. 
 18) Entire Agreement; Schedules. This Agreement and the
other Credit Documents, together with all other instruments, agreements and certificates executed by the parties in connection therewith or with reference thereto, embody the entire understanding and agreement between the parties hereto and thereto
with respect to the subject matter hereof and thereof and supersede all prior agreements, understandings and inducements, whether express or implied, oral or written. Each of the Schedules attached hereto is incorporated into this Agreement and by
this reference made a part hereof. 
 19) Further Assurances. Each Borrower agrees to take such further actions as
Administrative Agent or Lenders shall reasonably request from time to time in connection herewith to evidence or give effect to the amendments set forth herein or any of the transactions contemplated hereby. 
 20) Section Titles. Section titles and references used in this Agreement shall be without substantive meaning or content of any kind
whatsoever and are not a part of the agreements among the parties hereto. 
 21) Release of Claims. To induce Administrative Agent
and Lenders to enter into this Agreement, each Borrower hereby releases, acquits and forever discharges Administrative Agent and Lenders, and all of the respective officers, directors, agents, employees, successors and assigns of Administrative
Agent and Lenders, from any and all liabilities, claims, demands, actions or causes of action of any kind or nature (if there be any), whether absolute or contingent, disputed or undisputed, at law or in equity, or known or unknown, that such
Borrower now has or ever had against Administrative Agent or any Lender arising under or in connection with any of the Credit Documents or otherwise. Each Borrower represents and warrants to Administrative Agent and Lenders that such Borrower has
not transferred or assigned to any Person any claim that such Borrower ever had or claimed to have against Administrative Agent or any Lender. 
 22) Waiver of Jury Trial. To the fullest extent permitted by Applicable Law, each of the parties hereto hereby waives the right to trial by jury in any action, suit, counterclaim or proceeding arising out of or related to
this Agreement. 
 [Signatures commence on following page] 
  

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 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed under seal as of
the date and year first above written. 
  

					
	NEW BORROWERS:
	
	LOCKWOOD ACQUISITION, LLC
		
	By:	 	 /s/ Eva M. Kalawski

	Name:	 	Eva M. Kalawski
	Title:	 	Vice President and Secretary
	
	CLINTON & LOCKWOOD, LTD.
		
	By:	 	PNA Group, Inc., its general partner
			
		 	By:	 	 /s/ Eva M. Kalawski

		 	Name:	 	Eva M. Kalawski
		 	Title:	 	Vice President and Secretary
		
	By:	 	Lockwood Acquisition, LLC, its limited partner
			
		 	By:	 	 /s/ Eva M. Kalawski

		 	Name:	 	Eva M. Kalawski
		 	Title:	 	Vice President and Secretary
	
	METALS SUPPLY COMPANY, LTD.
		
	By:	 	MSC Management, Inc., its general partner
			
		 	By:	 	 /s/ Eva M. Kalawski

		 	Name:	 	Eva M. Kalawski
		 	Title:	 	Vice President and Secretary
		
	By:	 	PNA Group, Inc., its limited partner
			
		 	By:	 	 /s/ Eva M. Kalawski

		 	Name:	 	Eva M. Kalawski
		 	Title:	 	Vice President and Secretary
	
	MSC MANAGEMENT, INC.
		
	By:	 	 /s/ Eva M. Kalawski

	Name:	 	Eva M. Kalawski
	Title:	 	Vice President and Secretary

					
	EXISTING BORROWERS:
	
	SMITH PIPE & STEEL COMPANY
		
	By:	 	 /s/ Eva M. Kalawski

	Name:	 	Eva M. Kalawski
	Title:	 	Vice President and Secretary
	
	INFRA-METALS CO.
		
	By:	 	 /s/ Eva M. Kalawski

	Name:	 	Eva M. Kalawski
	Title:	 	Vice President and Secretary
	
	FERALLOY CORPORATION
		
	By:	 	 /s/ Eva M. Kalawski

	Name:	 	Eva M. Kalawski
	Title:	 	Vice President and Secretary
	
	DELTA STEEL L.P.
		
	By:	 	Delta GP, L.L.C., its general partner
			
		 	By:	 	 /s/ Eva M. Kalawski

		 	Name:	 	Eva M. Kalawski
		 	Title:	 	Vice President and Secretary
		
	By:	 	Delta LP, L.L.C., its limited partner
			
		 	By:	 	 /s/ Eva M. Kalawski

		 	Name:	 	Eva M. Kalawski
		 	Title:	 	Vice President and Secretary
	
	DELTA GP, L.L.C.
		
	By:	 	 /s/ Eva M. Kalawski

	Name:	 	Eva M. Kalawski
	Title:	 	Vice President and Secretary
	
	DELTA LP, L.L.C.
		
	By:	 	 /s/ Eva M. Kalawski

	Name:	 	Eva M. Kalawski
	Title:	 	Vice President and Secretary

  

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	PNA GROUP, INC.
		
	By:	 	 /s/ Eva M. Kalawski

	Name:	 	Eva M. Kalawski
	Title:	 	Vice President and Secretary
	
	DELNOR CORPORATION
		
	By:	 	 /s/ Eva M. Kalawski

	Name:	 	Eva M. Kalawski
	Title:	 	Vice President and Secretary
	
	TRAVEL MAIN CORPORATION
		
	By:	 	 /s/ Eva M. Kalawski

	Name:	 	Eva M. Kalawski
	Title:	 	Vice President and Secretary
	
	ADMINISTRATIVE AGENT:
	
	BANK OF AMERICA, N.A.
			
	By:	 		 	 /s/    Dennis S. Losin

	Name:	 		 	 Dennis S. Losin

	Title:	 		 	 Senior Vice President

  

 -3-Employment Agreement - Andrew L. Diamond

 Exhibit 10.9 
 EXECUTION COPY 
 EMPLOYMENT AGREEMENT 
 THIS EMPLOYMENT AGREEMENT (this “Agreement”) is entered into on May 31, 2006, but effective as of June 1, 2006 (the
“Effective Date”), by and between Andrew L. Diamond, an individual (“Executive”), and Metals Supply Company, Ltd., a Texas limited partnership (the “Company”). 
 BACKGROUND 
 A. Executive has been a
principal owner of, and the President and Chief Executive Officer of, the Company and of Clinton & Lockwood, Ltd., a Texas limited partnership (“C&L”), and their predecessors since 1993. 
 B. Concurrently with the execution hereof, the Company and C&L are being acquired by various affiliated entities pursuant to the terms of that
certain Purchase Agreement dated as of May 31, 2006 (the “Purchase Agreement”). 
 C. The execution of this Agreement
is a condition precedent to the performance by the owners of the Company and of C&L, including Executive, of their obligations under the Purchase Agreement. 
 AGREEMENT 
 In consideration of the foregoing recitals and the agreements contained herein, the
parties, intending to be legally bound, agree as follows: 
 1. Employment. The Company shall employ Executive on the terms provided
herein, and Executive shall be employed by the Company on the terms provided herein, for the period commencing as of the Effective Date and expiring on the fifth anniversary of the date hereof, unless this Agreement shall be terminated earlier
pursuant to the terms hereof. The period beginning on the Effective Date and ending on the earlier to occur of the fifth anniversary of the date hereof and the date on which Executive’s employment by the Company terminates for any reason is
referred to herein as the “Employment Period”. 
 2. Services. During the Employment Period, Executive shall hold the
position of President of the Company (or an alternative executive position with duties and responsibilities commensurate with the skills of Executive) and comparable additional positions with such subsidiaries or affiliates as may be requested by
the Company. Executive shall devote his best efforts and substantially all of his business time, skill and attention to the business of the Company and its subsidiaries; provided, however, that the foregoing is not intended to preclude
Executive from owning and managing personal investments or engaging in charitable activities and community affairs, provided that the performance of these activities does not prevent Executive from devoting substantially all of his business time to
the Company. 

 3. Compensation and Benefits. 
 (a) Base Salary. The Company shall pay Executive a minimum annual base salary in the amount of (i) $300,000 during the first
three years of the Employment Period, and (ii) $500,000 during the final two years of the Employment Period (such amounts, “Annual Base Salary”) payable in accordance with the Company’s regular payroll practices.
Executive’s Annual Base Salary may be reviewed in accordance with the policy of the Company from time to time and may be subject to upward adjustment based upon, among other things, Executive’s performance, as determined in the sole
discretion of the Company’s Board of Directors. In no event shall Executive’s Annual Base Salary in effect at a particular time during the Employment Period be reduced without his prior consent. The Company shall deduct and withhold from
all compensation paid to Executive all social security and other federal, state and local taxes and charges in the minimum amounts (or such greater amounts as Executive may from time to time request) which currently are or which hereafter may be
required by law to be so deducted and withheld. 
 (b) Other Benefits. In addition to the compensation specified above,
Executive shall be entitled to the following benefits during the Employment Period: 
 (i) participation in any benefit plans
(including dependent coverage offered through such plans for Executive’s wife) and bonus plans, in each case as made generally available to executives of the Company; 
 (ii) participation in any health insurance, disability insurance, group life insurance or other welfare benefit program made generally
available to executives of the Company; 
 (iii) four (4) weeks of vacation in each of the first two years of the
Employment Period, five (5) weeks of vacation in the third year of the Employment Period and twelve (12) weeks of vacation (not to be taken in periods of more than three (3) weeks each, with a period between each vacation period at
least twice as long as the immediately preceding vacation period) during each of the fourth and fifth years of the Employment Period; 
 (iv) (A) continued use of the automobile currently leased by the Company for Executive through the expiration of the current term of such lease, (B) upon the expiration of such lease, an automobile allowance of
$1,500.00 per month, and (C) reimbursement of reasonable repair and maintenance expenses; 
 (v) reimbursement for
membership fees in one membership club in an amount not to exceed $309.00 per month; and 
 (vi) reimbursement for
substantiated business expenses incurred by Executive in furtherance of the business of the Company, subject to submission of such documentation thereof as may be required under the Company’s policies as in effect from time to time. 

 

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 4. Termination of Employment. 
 (a) Executive’s employment may be terminated under the following circumstances: 
 (i) Cause. The Company shall have the right to terminate Executive’s employment for Cause, where “Cause” is
defined to mean the occurrence of any of the following during the Employment Period: (A) Executive perpetrates fraud against, or theft of property of, the Company, (B) Executive’s drug or alcohol addiction that impairs
Executive’s ability to perform normal business activities, or (C) Executive fails or refuses to follow the lawful directions of the Board of Directors (or similar governing body of the Company) after having been given written notice
thereof and fifteen (15) days to follow such directions. For the avoidance of doubt, performance of the Company below the expectations of the Company’s management, the Board of Directors (or similar governing body of the Company), any
direct or indirect owner of the Company or any other person shall not constitute Cause. 
 (ii) Good Reason. Executive
shall have the right to terminate his employment for Good Reason, where “Good Reason” is defined to mean the occurrence of any of the following during the Employment Period: (A) Executive’s primary location of employment
is relocated more than 50 miles from the greater Houston area without his consent or (B) Executive’s duties and responsibilities are significantly changed without his consent to include duties and responsibilities that a reasonable person
would consider inappropriate for someone with Executive’s experience and skills (e.g., Executive’s duties are changed to require him to load trucks); provided however, that Executive acknowledges and agrees that he may be asked to assume
an appropriate executive function other than that of President of the Company (but shall not be required to assume the duties of Sales Manager or Operations Manager on a permanent basis) and that any such change will not, by itself, constitute
“Good Reason”; and provided further, that Executive shall not have the right to terminate his employment for Good Reason unless, at least 30 days prior to such proposed termination, he informs the Company that he believes that a
condition permitting him to terminate his employment for Good Reason exists and he intends to terminate his employment for Good Reason if such condition is not remedied within such 30-day period and the Company does not remedy such condition within
such 30-day period. 
 (iii) Death. Executive’s employment shall terminate upon his death. 
 (iv) Disability. The Company shall have the right to terminate Executive’s employment due to “Disability” in
the event that there is a determination by the Company, upon the advice of an independent qualified physician, reasonably acceptable to Executive, that Executive has become physically or mentally incapable of performing his duties under this
Agreement and such disability has disabled Executive, or can reasonably be anticipated to disable Executive, for a cumulative period of ninety (90) days within a twelve (12) month period. 
  

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 (v) Without Cause. The Company shall have the right to terminate Executive’s
employment without Cause at any time, subject to the terms and conditions of this Agreement. 
 (vi) Resignation.
Executive shall have the right to terminate his employment by resigning at any time, subject to the terms and conditions of this Agreement. 
 (b) If the Company terminates Executive’s employment for Cause or if Executive resigns at any time other than for Good Reason, the Company shall pay Executive any unpaid Annual Base Salary at the rate then in
effect accrued through and including the date of termination in full immediately upon such termination and any outstanding and unpaid (i) claims for health insurance benefits or reimbursements payable under the terms of the applicable health
plan or (ii) expense reimbursements that were properly submitted prior to the date of termination (the “Outstanding Amounts”), and except for such payments the Company shall not be obligated to make any further payments to
Executive hereunder. 
 (c) If Executive’s employment terminates as a result of either Executive’s death or
Disability, the Company shall pay to Executive, his estate or his personal representative any unpaid Annual Base Salary at the rate then in effect accrued through and including the date of termination in full immediately upon such termination and
any Outstanding Amounts, and except for such payments the Company shall not be obligated to make any further payments to Executive hereunder. 
 (d) If, prior to the expiration of the Employment Period, the Company terminates Executive’s employment for any reason other than for Cause, or if Executive terminates his employment for Good Reason, (i) the
Company shall pay to Executive (A) any unpaid Annual Base Salary at the rate then in effect accrued through and including the date of termination in full immediately upon such termination, (B) any Outstanding Amounts and (C) subject
to the limitation in the immediately following sentence, the Company shall continue to pay to Executive his Annual Base Salary for the remainder of the period from the effective date of such termination through the third anniversary of the date of
this Agreement and, except for such payments the Company shall not be obligated to make any further payments to Executive hereunder. Executive’s right to receive the continuation of his Annual Base Salary as provided in the immediately
preceding sentence shall be subject to (x) Executive’s execution of a full and complete release in favor of the Company and its officers, directors, shareholders and affiliates (and the respective officers, directors and shareholders of
such affiliates), in form and substance reasonably acceptable to the Company, releasing the Company and such other parties from any and all claims of Executive in connection with his employment by the Company, and (y) Executive’s
compliance with the provisions of Sections 5 and 6 of this Agreement. 
 5. Confidential Information. 
 (a) Executive understands and acknowledges that, during his employment with the Company, C&L and their affiliates, he has been and
will continue to be exposed to Confidential Information (as defined below), all of which is proprietary and which belongs to the Company or to a customer of or vendor to the Company. Executive shall hold in a fiduciary 

  

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capacity for the benefit of the Company all such Confidential Information obtained by Executive and shall not, directly or indirectly, at any time, either
during or after his employment with the Company, without the Company’s prior written consent, use any of such Confidential Information or disclose any of such Confidential Information to any individual or entity other than the Company or its
employees, except as required in the performance of his duties for the Company and its subsidiaries or as otherwise required by law. Executive shall take all reasonable steps to safeguard such Confidential Information and to protect such
Confidential Information against disclosure, misuse, loss or theft. 
 (b) The term “Confidential
Information” shall mean any confidential proprietary information not generally known in the relevant trade or industry or otherwise not generally available to the public, which was obtained by Executive from the Company, C&L or any
other subsidiary or affiliate or any of their predecessors, or which was learned, discovered, developed, conceived, originated or prepared by Executive during or as a result of the performance of any services by Executive on behalf of any such
entity and shall include confidential information received from customers and vendors under an obligation to treat such information as confidential. 
 (c) Except for such items which are of a personal nature to Executive (e.g., daily business planner), all writings, records, and other documents and things containing any Confidential Information shall be the
exclusive property of the Company, shall not be copied, summarized, extracted from, or removed from the premises of the Company, except in pursuit of the business of the Company or at the direction of the Company, and shall be delivered to the
Company, without retaining any copies, upon the termination of Executive’s employment or at any time thereafter as requested by the Company. 
 6. Non-Solicitation and Noncompete. 
 (a) During the Employment Period and for a period of two (2) years
from and after the termination of his employment with the Company, Executive shall not and shall not permit any company or business with which he is affiliated to, directly or indirectly (i) encourage, induce, attempt to induce, solicit or
attempt to solicit, any individual who is employed by the Company or any of its subsidiaries or affiliates on the date of the termination of Executive’s employment to terminate his or her relationship with the Company or such subsidiary or
affiliate or (ii) offer to employ any individual (other than Andrea Diamond and Lesley Diamond) who was so employed at any time during the six month period prior to the date of termination of Executive’s employment, 
 (b) During Executive’s employment with the Company, whether during or after the expiration of the Employment Period, and for the
period ending on the later of (i) five (5) years after the date of this Agreement and (ii) two years (2) after the termination of Executive’s employment with the Company, Executive shall not, and shall not permit any company
or business with which he is affiliated to, directly or indirectly, alone or as a partner, agent, member or stockholder of any partnership, corporation, limited liability company or other legal entity (x) own, invest in, lend money to, manage,
operate, control, provide consulting services to, or lend a service or trade mark to, or participate in the ownership, management, operation, or control of, any business involved in the business of distributing or processing steel 

  

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products in the United States (the “Business”), or (y) seek to induce any customer or other person with a business relationship with
the Company or its subsidiaries to terminate or adversely change such business relationship; provided, however, that nothing in this Section 6(b) shall prohibit Executive from being a passive owner of not more than three percent (3%) of
the outstanding stock of any class of securities of a publicly traded company engaged in the Business, so long as Executive has no active participation in the business of such company. Notwithstanding the foregoing, the parties acknowledge and agree
that the business activities of Executive’s son will not be attributed to Executive or constitute a violation of this Agreement by Executive so long as Executive does not participate in such business activities, finance such business activities
or provide consulting in support of such business activities. 
 (c) If any provision contained in this Section 6 shall
for any reason be held invalid, illegal or unenforceable in any respect, such invalidity, illegality or unenforceability shall not affect any other provisions of Section 6, but this Section 6 shall be construed as if such invalid, illegal
or unenforceable provision had never been contained herein. It is the intention of the parties that if any of the restrictions or covenants contained herein is held to cover a geographic area or to be for a length of time which is not permitted by
applicable law, or in any way construed to be too broad or to any extent invalid, such provision shall not be construed to be null, void and of no effect, but to the extent such provision would be valid or enforceable under applicable law, a court
of competent jurisdiction shall construe and interpret or reform this Section 6 to provide for a covenant having the maximum enforceable geographic area, time period and other provisions (not greater than those contained herein) as shall be
valid and enforceable under such applicable law. 
 7. Remedies. The parties hereto agree that the Company would suffer irreparable
harm from a breach by Executive of any of the covenants or agreements contained in Sections 5 and 6 of this Agreement. Therefore, in the event of the actual or threatened breach by Executive of any of the provisions of Sections 5 or 6, the Company
may, in addition and supplementary to other rights and remedies existing in its favor, apply to any court of law or equity of competent jurisdiction for specific performance and/or injunctive or other relief in order to enforce or prevent any
violation of the provisions thereof. 
 8. Successors and Assigns. The rights of the Company hereunder shall (i) be assignable by
the Company in connection with any sale of all or substantially all of the assets of the Company, and (ii) shall inure to the benefit of any successor to the Company by merger, consolidation or otherwise. This Agreement and all rights of
Executive hereunder shall inure to the benefit of and be enforceable by Executive’s personal or legal representatives, executors, administrators, successors, heirs, distributees, devisees and legatees. If Executive should die while any amounts
would still be payable to him hereunder if he had continued to live, all such amounts, unless otherwise provided herein, shall be paid in accordance with the terms of this Agreement to Executive’s devisee, legatee, or other designee or, if
there be no such designee, to Executive’s estate. 
 9. Modification or Waiver. No amendment, modification, waiver, termination
or cancellation of this Agreement shall be binding or effective for any purpose unless it is made in a writing signed by the party against whom enforcement of such amendment, modification, waiver, termination or cancellation is sought. No course of
dealing between or among the parties to this 

  

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Agreement shall be deemed to affect or to modify, amend or discharge any provision or term of this Agreement. No delay on the part of the Company or
Executive in the exercise of any of their respective rights or remedies shall operate as a waiver thereof, and no single or partial exercise by the Company or Executive of any such right or remedy shall preclude other or further exercise thereof. A
waiver of right or remedy on any one occasion shall not be construed as a bar to or waiver of any such right or remedy on any other occasion. 
 10. Notices. All notices or other communications required or permitted hereunder shall be made in writing and shall be deemed to have been duly given if delivered by hand or delivered by a recognized delivery service or mailed,
postage prepaid, by express, certified or registered mail, return receipt requested, and addressed to the Company at the Company’s principal executive offices and to Executive at Executive’s home address as set forth in the Company’s
personnel records, (or, in either case, to such other address as shall have been previously provided in accordance with this Section 10). 
 11. Executive Representation. By executing this Agreement, Executive hereby warrants and represents that he is not bound by any other agreement or subject to any other restriction which would either prevent him from entering into
this Agreement or from performing his duties as contemplated hereunder. 
 12. Governing Law and Waiver of Jury Trial. This Agreement
will be governed by and construed in accordance with the laws of the State of Texas, without regard to principles of conflicts of laws thereunder. Each party hereto hereby irrevocably waives any and all right to trial by jury in any legal proceeding
arising out of or related to this Agreement or the transactions contemplated hereby. 
 13. Severability. Whenever possible, each
provision and term of this Agreement shall be interpreted in such manner as to be effective and valid under applicable law, but if any provision or term of this Agreement shall be held to be prohibited by or invalid under such applicable law, then,
subject to the provisions of Section 6 above, such provision or term shall be ineffective only to the extent of such prohibition or invalidity, without invalidating or affecting in any manner whatsoever the remainder of such provisions or term
or the remaining provisions or terms of this Agreement. 
 14. Counterparts. This Agreement may be executed in separate counterparts,
each of which is deemed to be an original and both of which taken together shall constitute one and the same agreement. 
 15. Entire
Agreement. This Agreement constitutes the entire agreement of the parties with respect to the subject matter hereof and supersedes all other prior agreements and undertakings, both written and oral, among the parties with respect to the subject
matter hereof. 
 16. Acknowledgement. Executive acknowledges that he has had the opportunity to consult with his tax and legal
advisors concerning this Agreement, that he has read and understands this Agreement, that he is fully aware of its legal effect, and that he has entered into it freely and voluntarily and based on his own judgment and not on any representations,
understandings, or promises other than those contained in this Agreement. 
  

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 IN WITNESS WHEREOF, the undersigned
have executed this Agreement effective as of the Effective Date. 
  

									
	EXECUTIVE	 		 	METALS SUPPLY COMPANY, LTD.
					
		 	/s/ Andrew L. Diamond	 		 	By:	 	/s/ Eva M. Kalawski
		 	Andrew L. Diamond	 		 	Name:	 	Eva M. Kalawski
		 		 		 	Title:	 	Vice President & Secretary

  

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