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3.3 Benefrts. Yaklich hals I not be entitled to participate in any fringe benefit, <br />medical or life insurance, bonus, compensation, retvement, stock option, pension or similar <br />or other plan sponsored by the Companies during the Term of this Agreement. <br />3.4 Withholding. The parties agree that the compensation payable to Yaklich <br />under this Agreement shall be subject to withholding by the Companies of all federal, state <br />and local taxes under applicable laws, rules and regulations then in effect, including without <br />limitation FICA and other taxes. <br />3.5 Reimbursement of Expenses. Upon presentation of proper receipts and <br />other documentation, the Companies shall reimburse Yaklich for all reasonable ordinary or <br />necessary expenses incurred by Yaklich. <br />4. Termination of Employment. Notwithstanding the terms set forth in Section 1 <br />above, this Agreement and the Initial Term shall terminate prior to the scheduled expiration <br />thereof upon the occurrence of any of the following events: <br />(a) in the event of Yaklich's death; <br />(b) at the option of either Company, if Yaklich shall have: <br />(i) committed a felony involving moral turpitude, or <br />(ii) repeatedly or intentionally conducted himself in a manner such as to cause <br />damages to the Company's relations with customers, employees or companies or <br />entities with which the Company does business; <br />(c) in the event Yaklich accepts full-time employment with another employer. <br />In the event Yaklich's employment is terminated under subsections (a) or (c) above, or as a <br />result of the expiration of the term of this Agreement, and in the further event that any of the <br />Assets are sold to a buyer described in Section 3.2, above, then the Companies shall, <br />nevertheless pay to Yaklich the contingent compensation described in Section 3.2 hereof. <br />S. Court Approval. The parties acknowledge and agree that this Agreement and the <br />Companies' obligations hereunder shall be subject to approval by the Court. <br />6. Settlement of Prior Employment Agreement. Yaklich and Reorganized CF&I <br />Steel Corporation were parties to that certain employment agreement dated that 1st day of <br />June 1990. Yaklich and Reorganized Steel Corporation have agreed to settle all remaining <br />obligations of either party under that contract. In exchange for the payment by Reorganized <br />Steel Corporation to Yaklich of $15,000 and the annuity described in section 6 of the <br />contract, the parties agree that as of March 3, 1993, neither parry has any further duty or <br />obligation to the other under said contract. <br />-3- <br />