0001445305-11-001463 Sample Contracts

SECOND AMENDED AND RESTATED CREDIT AGREEMENT Dated as of February 9, 2011 among
Credit Agreement • June 30th, 2011 • Schnitzer Steel Industries Inc • Wholesale-misc durable goods • Washington

This SECOND AMENDED AND RESTATED CREDIT AGREEMENT (“Agreement”) is entered into as of February 9, 2011, among SCHNITZER STEEL INDUSTRIES, INC., an Oregon corporation (the “US Borrower”), SCHNITZER STEEL BC, INC., a British Columbia corporation (“Schnitzer BC”), and SCHNITZER STEEL PACIFIC, INC., a British Columbia corporation (“Schnitzer Pacific” and together with Schnitzer BC and certain Subsidiaries of the US Borrower party hereto pursuant to Section 2.15, collectively, the “Canadian Borrowers” and individually, a “Canadian Borrower”), each lender from time to time party hereto (collectively, the “US Lenders” and individually, a “US Lender”), BANK OF MONTREAL, as Canadian Lender, and BANK OF AMERICA, N.A., as Administrative Agent, Swing Line Lender and L/C Issuer.

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SCHNITZER STEEL INDUSTRIES, INC. AMENDED AND RESTATED EMPLOYMENT AGREEMENT
Employment Agreement • June 30th, 2011 • Schnitzer Steel Industries Inc • Wholesale-misc durable goods • Oregon

WHEREAS, Executive previously entered into an employment agreement, dated as of February 17, 2006, which was amended and restated effective as of December 1, 2008;

AMENDMENT NO. 1 TO EMPLOYMENT AGREEMENT
Employment Agreement • June 30th, 2011 • Schnitzer Steel Industries Inc • Wholesale-misc durable goods • Oregon

This Amendment (“Amendment”), dated June 29, 2011, is made by and between Schnitzer Steel Industries, Inc. (the “Company”) and Tamara L. Lundgren (“Executive”).

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