Amendment to Amended and Restated Employment Agreement between Tube City IMS Corporation, Metal Services Acquisition Corp., and J. David Aronson

Summary

This amendment updates the employment agreement between J. David Aronson, Tube City IMS Corporation, and Metal Services Acquisition Corp. It corrects the retirement benefits section, specifying that starting January 1, 2015, normal retirement benefits will be $50,000 annually. Early retirement benefits will be $30,000 annually at age 55, increasing by $2,000 for each full year between ages 55 and 65, up to a maximum of $48,000 at age 64. All other terms of the original agreement remain in effect.

EX-10.6 12 dex106.htm AMENDMENT TO AMENDED AND RESTATED EMPLOYMENT AGREEMENT - J. DAVID ARONSON Amendment to Amended and Restated Employment Agreement - J. David Aronson

Exhibit 10.6

[Tube City IMS Corporation Letterhead]

May 10, 2010

J. David Aronson

Tube City IMS Corporation

P.O. Box 2000

12 Monongahela Avenue

Glassport, Pennsylvania 15045

Dear David:

This letter amends your Amended and Restated Employment Agreement, dated as of January 25, 2007, by and among Metal Services Acquisition Corp., Tube City IMS Corporation and you (the “Employment Agreement”). In order to correct an error in the Employment Agreement, the first sentence of Section 2C(f) is hereby replaced in its entirety as follows:

“Effective in the year commencing January 1, 2015, Normal Retirement Benefits shall be increased to Fifty Thousand Dollars ($50,000) annually; and early Retirement Benefits shall increase to Thirty Thousand Dollars ($30,000) annually at age 55, plus Two Thousand Dollars ($2,000) for each full year of attained between ages 55 and 65 at the date of early retirement to a maximum of Forty Eight Thousand Dollars ($48,000) at age 64.”

This letter is to be interpreted consistent with and governed by each of the provisions of Section 4 of the Employment Agreement.

 

Sincerely,
METAL SERVICES ACQUISITION CORPORATION

/s/ Thomas E. Lippard

 

Name: Thomas E. Lippard
Title: Executive Vice President
TUBE CITY IMS CORPORATION

/s/ Thomas E. Lippard

 

Name: Thomas E. Lippard
Title: Executive Vice President

 

Agreed and Accepted:

/s/ J. David Aronson

 

J. David Aronson