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Modified Successor Labor Agreement

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Title:

Modified Successor Labor Agreement

Entities:

Republic Engineered Products Holdings LLC

Date:

2003

Size:

Preview shows 2KB of 76KB total

Price:

$41

ID:

#1465853

► Employment ► Labor ► Successor ► Modified Successor Labor Agreements

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                       Modified Successor Labor Agreement



1.   Parties



     The parties to this Agreement shall be Newco (including its successors,

     assigns and affiliates, "Newco" or the "Company") and the United

     Steelworkers of America, AFL-CIO.CLC (the "USWA" or the "Union").



2.   Restatement and Modification



     The terms of the Successor Labor Agreement as outlined in Attachment 1 to

     Appendix 4 of the Modified Labor Agreement between Republic Technologies

     International, LLC ("Republic") and the USWA (the "SLA") shall be in full

     force and effect in all respects except as expressly modified herein (such

     SLA as expressly modified, the "Modified SLA" or "MSLA").



3.   Conditions to Effectiveness



     A.   This MSLA shall become effective (the "Effective Date") upon the

          closing of a Newco acquisition of certain assets of Republic that

          includes (i) an aggregate capital investment by the KPS Funds and

          Pegasus Investors of at least $50 million, (ii) opening Newco

          liquidity of at least $25 million, and (iii) the acquisition of at

          least Republic's operating assets at the Canton cast roll complex,

          Lorain, and Lackawanna.



     B.   The MSLA and all of its terms shall become effective on the Effective

          Date unless otherwise indicated in this MSLA.



4.   Revisions to the SLA



     The parties agree to modify the SLA as follows:



     a.   Institute for Career Development, as set forth in Appendix 1;



     b.   Neutrality, as set forth in Appendix 2;



     c.   Profit-sharing, as set forth in Appendix 3;

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