Document:

exv4w2

 

Exhibit 4.2

FIRST AMENDMENT TO THE

EARLE M. JORGENSEN COMPANY

2004 STOCK INCENTIVE PLAN

     WHEREAS, Earle M. Jorgensen Company (the “Company”) adopted and maintains the Earle M.
Jorgensen Company 2004 Stock Incentive Plan (the “Plan”);

     WHEREAS, Section 9(a) of the Plan provides that the Board of Directors (the “Board”) of the
Company may amend the Plan; and

     WHEREAS, the Board desires to amend the Plan.

     NOW, THEREFORE, the Plan is hereby amended as follows, effective as of January 1, 2005:

1. The last sentence of the first paragraph of Section 6 of the Plan is amended to read in its
entirety as follows:

“Stock Awards may be issued that are fully and immediately vested upon issuance or that vest
in one or more installments over the Participant’s period of employment or other service to
the Company or upon the attainment of specified performance objectives.”

2. Section 8(a)(iv)(D) of the Plan is amended to read in its entirety as follows:

	 	“
(D)	 	Unless otherwise provided in the applicable Award agreement, settlement of each
share of Stock subject to an outstanding Award for the fair market value of such share
(determined in accordance with Section 409A of the Code and guidance promulgated
thereunder) as of the date of the Change in Control (less, to the extent applicable,
the per share exercise price), or, if the per share exercise price equals or exceeds
such fair market value, the outstanding Award shall terminate and be canceled.”

3. Section 8(a)(v) of the Plan is amended to read in its entirety as follows:

	 	“(v)	 	Unless otherwise provided in the applicable Award agreement, in the absence of
any agreement of merger or reorganization effecting such Change in Control, each share
of Stock subject to an outstanding Award shall be settled for the fair market value of
such share (determined in accordance with Section 409A of the Code and guidance
promulgated thereunder) as of the date of the Change in Control (less, to

 

 

	 	 	 	the extent
applicable, the per share exercise price), or, if the per share exercise price equals
or exceeds such fair market value, the outstanding Award shall terminate and be
canceled.”

4. Section 9(c)(vi) of the Plan is amended to read in its entirety as follows:

	 	“(vi)	 	Subject to applicable law, any amounts owed to the Company or an Affiliate by
the Participant of whatever nature may be offset by the Company from the value of any shares of Stock, cash or other thing of value under this Plan or an agreement to be
transferred to the Participant.”

5. Section 10 of the Plan is amended by adding the following to the end thereof:

“Any such reimbursement that constitutes deferred compensation subject to Section 409A of
the Code shall be made in such a manner so as not to subject any indemnified person to
liability under such section.”

6. Section 11 of the Plan is deleted in its entirety.

	 	 	 	 	 
	 	 	EARLE M. JORGENSEN COMPANY
	 
	 	 	 	 
	 

	 	By:	 	 
	 

	 	 	 	 
	 

	 	 	 	Name:
	 

	 	 	 	Titleexv4w3

 

Exhibit 4.3

ASSUMPTION AND AMENDMENT AGREEMENT

EARLE M. JORGENSEN COMPANY

2004 STOCK INCENTIVE PLAN

     This Agreement is entered into as of April 3, 2006, by and between Earle M. Jorgensen Company,
a Delaware corporation (“EMJ”), and Reliance Steel & Aluminum Co., a California corporation
(“Reliance”), regarding the Earle M. Jorgensen Company 2004 Stock Incentive Plan, as amended (the
“Plan”).

WITNESSETH:

     WHEREAS, EMJ has entered into an Agreement and Plan of Merger (the “Merger Agreement”), dated
as of January 17, 2006, with Reliance and RSAC Acquisition Corp., a Delaware corporation and
newly-formed wholly-owned subsidiary of Reliance (“RSAC”);

     WHEREAS, pursuant to the Merger Agreement, EMJ will be merged with and into RSAC (the
“Merger”), with RSAC as the surviving entity, which will immediately change its name to “Earle M.
Jorgensen Company” and which will remain wholly-owned by Reliance as of the Effective Time (as
defined in the Merger Agreement);

     WHEREAS, pursuant to Section 2.03(a) of the Merger Agreement, Reliance will assume and succeed
to all of the obligations and liabilities of EMJ under the Plan; and

     WHEREAS, as of the Effective Time, shares of EMJ common stock subject to awards issued under
the Plan will be replaced with shares of the common stock of Reliance with the number of shares
subject to each award and the exercise price thereof adjusted by the Option Exchange Ratio (as
defined in the Merger Agreement).

     NOW, THEREFORE, in consideration of the premises and mutual agreements contained herein, and
subject to completion of the Merger, the parties agree that the Plan shall be, and hereby is,
assumed and amended as follows:

1. Reliance hereby assumes and adopts the Plan as of the Effective Time and agrees to
perform all of the obligations and liabilities of EMJ with respect to the Plan, and
EMJ hereby consents to such assumption.

2. As of the Effective Time, the Plan is amended in the following respects:

a) Unless the context otherwise requires and except as provided in this Agreement,
any reference in the Plan to “Earle M. Jorgensen Company, a Delaware corporation,” is
revised to refer to “Reliance Steel & Aluminum Co., a California corporation;” and

b) The second sentence in Section 1 is revised to read as follows:

     “The Plan is adopted as of December 17, 2004 (the “Effective Date”).”

 

 

c) The first paragraph in Section 3 is revised by deleting and replacing the words
“Company” and “Company’s” with “Earle M. Jorgensen Company” and “Earle M. Jorgensen
Company’s”, respectively, and by adding the following sentence to the end of the
first paragraph: “Notwithstanding the foregoing, the aggregate number of shares of
Stock to be delivered under the Plan shall not exceed 432,773.”

d) The third paragraph in Section 3 is revised by inserting the phrase “multiplied by
the Option Exchange Ratio” after the words “750,000 shares”.

e) The first sentence of Section 10 is revised by inserting the phrase “, or a member
of the committee of Earle M. Jorgensen Company designated to administer the Plan or
of the Board of Directors of Earle M. Jorgensen Company or any officer of Earle M.
Jorgensen Company” after the word “Company” first appears in that sentence.

f) The last sentence of Section 10 is revised by deleting and replacing the phrase
“Company’s Amended and Restated Certificate of Incorporation or Amended and Restated
By-laws” with “charter documents of the Company and Earle M. Jorgensen Company, as
the case may be”.

g) Section 12(e) is revised by inserting the words “or the Earle M. Jorgensen
Company” after the word “Company” in clause (ii).

h) Section 12 is revised by inserting a new clause “(r-1)” which reads as follows:

     ”(r-1) “Option Exchange Ratio” has the meaning set forth in Section 2.03(e) of
that certain Agreement and Plan of Merger dated as of January 17, 2006, by and among
Earle M. Jorgensen Company, the Company and RSAC Acquisition Corp., a California
corporation and wholly owned subsidiary of the Company (“RSAC”), whereby Earle M.
Jorgensen Company will be merged with and into RSAC (the “Merger”), with RSAC as the
surviving entity and with RSAC changing its name to “Earle M. Jorgensen Company”
immediately after the Merger.”

i) Section 12(v) is revised to read as follows:

     ”(v) “Stock” means Common Stock, no par value, of the Company.”

j) Section 12(z) is revised to read as follows:

     ”(z) “Subsidiary” means RSAC or Earle M. Jorgensen Company or any company
during any period in which it is a “subsidiary corporation” (as such term is defined
in Section 424(f) of the Code) with respect to the Company.”

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3. This Agreement shall be binding upon and inure to the benefit of the parties hereto
and their respective successors and assigns.

4. This Agreement may be executed in any number of counterparts each of which may be
deemed an original but all of which together shall constitute one of the same
instrument.

5. This Agreement shall be construed and governed in accordance with the internal laws
of the State of California and the Employee Retirement Income Security Act of 1974, as
amended, without giving effect to principles of conflicts of law.

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

	 	 	 	 	 	 	 	 	 	 	 
	EARLE M. JORGENSEN COMPANY:	 	 	 	RELIANCE STEEL & ALUMINUM CO.	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	By:

	 	 	 	 	 	By:	 	 	 	 
	 

	 	 

Title
	 	 	 	 	 	 

Title
	 	 

3exv4w4

 

Exhibit 4.4

EARLE M. JORGENSEN COMPANY

INCENTIVE STOCK OPTION AGREEMENT

(Time-based Vesting)

     THIS INCENTIVE STOCK OPTION AGREEMENT (this “Agreement”) dated as of                     , 20                     (“Grant
Date”), is between Earle M. Jorgensen Company, a Delaware corporation (the “Company”), and
                    , (the “Participant”) relating to options granted under the Company’s 2004 Stock
Incentive Plan (the “Plan”). Capitalized terms used in this Agreement without definition shall
have the meaning ascribed to such terms in the Plan.

1. Grant of Stock Option, Option Price and Term.

     a) The Company grants to the Participant an Incentive Stock Option to purchase
                    
shares of Stock of the Company (“Option Shares”) at a price of $                    
per share (“Option Price”) subject to the provisions of the Plan and the terms and
conditions herein.

     b) The term of this Stock Option shall be a period of 10 years from the Grant Date
(the “Option Period”). During the Option Period, the Stock Option shall be vested
and exercisable as of the date set forth below according to the percentage set forth
opposite such date:

	 	 	 	 	 
	Date

	 	 	 	Cumulative Percentage Vested and
Exercisable
	 

	 	 	 	 

     Notwithstanding the foregoing, in the event the Participant incurs a termination of employment
for any reason whatsoever as an employee of the Company or an Affiliate, paragraphs (f), (g), (h)
and (i) of Section 4 of the Plan shall apply.

     c) The Stock Option granted hereunder is designated as an Incentive Stock Option that
is not transferable by the Participant except by will or the laws of descent and
distribution. To the extent that the aggregate Fair Market Value (determined on the
Grant Date) of the Option Shares with respect to which any Incentive Stock Options
are exercisable for the first time during any calendar year under all plans of the
Company and its Affiliates exceeds $100,000, the Stock Options or portions thereof
which exceed such limit shall be treated as Non-Qualified Stock Options. It should
be understood that there is no assurance that the Stock Option will, in fact, be
treated as an Incentive Stock Option.

     d) The Company shall not be required to issue any fractional shares of Stock. Any
fractional shares of Stock shall be paid in cash.

2. Exercise.

     The Stock Option shall be exercisable during the Participant’s lifetime only by the
Participant (or his or her guardian or legal representative (each, a “Representative”)), and after
the

 

 

Participant’s death only by a Representative. The Stock Option may only be exercised by the
delivery to the Company of a properly completed written notice, which notice shall specify the
number of Option Shares to be purchased and the aggregate Option Price for such shares, together
with payment in full of such aggregate Option Price. Payment shall only be made as specified in
the Plan. If any part of the payment of the Option Price is made in shares of Stock, such shares
shall be valued by using their Fair Market Value as of the date of exercise of the Stock Option.

     The Stock Option may not be exercised unless there has been compliance with the Plan and all
of the preceding provisions of this Section 2, and, for all purposes of this Agreement, the date of
the exercise of the Stock Option shall be the date upon which there is compliance with all such
requirements.

3. Payment of Withholding Taxes.

     If the Company is obligated to withhold an amount on account of any tax imposed as a result of
the exercise of the Stock Option, the Participant shall be required to pay such amount to the
Company, as provided in the Plan. The Participant acknowledges and agrees that he or she is
responsible for the tax consequences associated with the grant of the Stock Option and its
exercise.

4. Changes in Company’s Capital Structure.

     The existence of this Stock Option will not affect in any way the right or authority of the
Company or its stockholders to make or authorize (a) any or all adjustments, recapitalizations,
reorganizations or other changes in the Company’s capital structure or its business; (b) any merger
or consolidation of the Company’s capital structure or its business; (c) any merger or
consolidation of the Company; (d) any issue of bonds, debentures, preferred or prior preference
stock ahead of or affecting the Stock or the rights thereof; (e) the dissolution or liquidation of
the Company; (f) any sale or transfer of all or any part of its assets or business; or (g) any
other corporate act or proceeding, whether of a similar character or otherwise.

     In the event of a Change in Control or other corporate restructuring provided for in the Plan,
the Participant shall have such rights, and the Committee shall or may, as the case may be, take
such actions, as are provided for in the Plan.

5. Plan.

     The Stock Option is granted pursuant to the Plan, and the Stock Option and this Agreement are
in all respects governed by the Plan and subject to all of the terms and provisions thereof,
whether such terms and provisions are incorporated in this Agreement by reference or are expressly
cited.

6. Employment Rights.

     No provision of this Agreement or of the Stock Option granted hereunder shall give the
Participant any right to continue in the employ of the Company or any Affiliates, create any
inference as to the length of employment of the Participant, affect the right of the Company or
Affiliates to terminate the employment of the Participant, with or without Cause, or give the

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Participant any right to participate in any employee welfare or benefit plan or other program
(other than the Plan) of the Company or any of the Affiliates.

7. Governing Law.

     This Agreement and the Stock Option granted hereunder shall be governed by, and construed and
enforced in accordance with, the laws of the State of Delaware (other than its laws respecting
choice of law).

8. Waiver; Cumulative Rights.

     The failure or delay of either party to require performance by the other party of any
provision hereof shall not affect its right to require performance of such provision unless and
until such performance has been waived in writing. Each and every right hereunder is cumulative
and may be exercised in part or in whole from time to time.

9. Notices.

     Any notices, consents, or other communication to be sent or given hereunder by any of the
parties shall in every case be in writing and shall be deemed properly served if (a) delivered
personally, (b) sent by registered or certified mail, in all such cases with first class postage
prepaid, return receipt requested, or (c) delivered to a nationally recognized overnight courier
service, to the parties at the addresses set forth below:

	 	 	 	 	 	 	 	 	 	 
	 	If to the Company:	 	Earle M. Jorgensen Company	 	 
	 	 	 	10650 Alameda Street, Lynwood, CA 90262	 	 
	 	 

	 	Attention:	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	Facsimile: (323)	 	 	 	 
	 	 

	 	 	 	 	 	 	 	 
	 	 
	 	 	 	 	 	 	 	 
	 	If to the Participant:
	 	 	 	 	 	 	 	 
	 	 	 

or such other address or to the attention of such other person as the recipient party shall have
specified by prior written notice to the sending party. Date of service of such notice shall be
(w) the date such notice is personally delivered, (x) three (3) days after the date of mailing if
sent by certified or registered mail, or (y) one (1) day after date of delivery to the overnight
courier if sent by overnight courier.

10. Conditional Grant.

     This Stock Option is granted upon the condition that the Option Shares shall be forfeited
unless each and any person who is a spouse of the Participant at any time on or after the Grant
Date
(including any person who becomes a spouse after the Grant Date) executes a Consent of Spouse
form provided by the Committee, unless the Committee shall waive such condition.

11. Entire Agreement.

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     This Agreement and the Plan embody the complete agreement and understanding among the parties,
and supersede and preempt any prior understandings, agreements or representations by or among the
parties, written or oral, with respect to the subject matter hereof.

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12. Counterparts.

     This Agreement may be executed in separate counterparts, each of which is deemed to be an
original and all of which taken together constitute one and the same instrument.

13. Successors and Assigns.

     This Agreement is intended to bind and inure to the benefit of, and be enforceable by, the
Participant and the Company and their respective successors and assigns (including subsequent
holders of this Stock Option).

14. No Strict Construction.

     The language used in this Agreement will be deemed to be the language chosen by the parties
hereto to express their mutual intent, and no rule of strict construction will be applied against
any party hereto.

15. Remedies.

     Each of the parties to this Agreement will be entitled to enforce its rights under this
Agreement specifically, to recover damages by reason of any breach of any provision of this
Agreement and to exercise all other rights existing in its favor. The Participant agrees and
acknowledges that money damages will not be an adequate remedy for any breach of the provisions of
this Agreement and that the Company shall be entitled to specific performance and injunctive relief
in order to enforce, or prevent any violations of, the provisions of this Agreement.

16. Amendments and Waivers.

     The Administrator (as defined in the Plan) may amend or waive any of the terms of the Award
heretofore granted, prospectively or retroactively, but no such amendment shall adversely affect
the rights of the Participant without the Participant’s consent.

17. Headings.

     The captions set forth in this Agreement are for convenience only and shall not be considered
as part of this Agreement or as in any way limiting the terms and provisions hereof.

[Remainder of page intentionally left blank.

Signature page follows.]

 

 

     IN WITNESS WHEREOF, the Company has caused this Agreement to be duly executed by an officer
thereunto duly authorized, and the Participant has hereunto set his hand, all as of the day and
year first above written.

	 	 	 	 	 	 	 
	 	 	EARLE M. JORGENSEN COMPANY	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	Name:
	 	 

	 	 
	 

	 	 	 	 	 	 
	 

	 	Title:	 	 	 	 
	 

	 	 	 	 	 	 

	 	 	 
	Participant:

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