FORM OF LONG-TERM INCENTIVE AWARD AGREEMENT UNDER THE 1993 STOCK INCENTIVE PLANTerm Incentive Award Agreement • January 8th, 2010 • Schnitzer Steel Industries Inc • Wholesale-misc durable goods • Oregon
NOTE: The following form of Long-Term Incentive Award Agreement is the form used for awards to corporate-level employees. In the Long-Term Incentive Award Agreements for employees who work exclusively for the Company’s Metals Recycling Business or Auto Parts Business, the ROCE Payout Factor in Section 2.3 is based 100% on the MRB/APB ROCE Payout Factor, all references to the SMB ROCE Payout Factor are omitted, and various conforming language changes are made. In the Long-Term Incentive Award Agreements for employees who work exclusively for the Company’s Steel Manufacturing Business, the ROCE Payout Factor in Section 2.3 is based 100% on the SMB ROCE Payout Factor, all references to the MRB/APB ROCE Payout Factor are omitted and various conforming language changes are made.
