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Employment Agreement <br />THIS hMPIAYMENT AGREEMENT (this `Agreement'), is entered into as of the 3rd day <br />of March, 1993, between REORGANIZED CF&I STEEL CORPORATION, REORGANIZED KANSAS <br />METALS COMPANY, (jointly and severally, the "Companies" or "Company") and FRANK J. <br />YAxt_tcll, JR., an individual ("Yaklich"). <br />Recitak <br />A. The Companies aze "Reorganized Debtors" (as that term is defined in the <br />Debtors' and Railroad Trustee's First Amended and Restated Joint Plan of Reorganization <br />dated December 1, 1992 (the "Plan") of CF&I Steel Corporation and Kansas Metals <br />Company. <br />B. Yaklich previously served as the President and Chief Executive Officer of CF&I <br />Steel Corporation, and is familiar with its operations and assets and with the operations and <br />assets of certain of its previously owned subsidiaries, specifically, Albuquerque Metals <br />Company, Denver Metals Company and Kansas Metals Company (the "Subsidiaries"). <br />C. The assets of the metals businesses of Albuquerque Metals Company and Denver <br />Metals Company are now owned by Reorganized CF&I Steel Corporation. <br />D. Pursuant to the Plan, the Companies desire to sell the assets of the metals <br />business of the Subsidiaries that were not acquired by New CF&I, L.P. (the "Assets"). <br />E. The Companies believe that the services of Yaklich will be of substantial value to <br />the Companies in connection with the marketing and sale of the Assets, and desires to retain <br />Yaklich's services, upon the terms and subject to the conditions set forth in this Agreement. <br />F. Yaklich is willing to provide such services upon such terms and subject to such <br />conditions. <br />Agreement <br />In consideration of the recitals listed above, and of the terms and mutual covenants set <br />forth below, and for other good and valuable consideration, the receipt and sufficiency of <br />which the parties hereby acknowledge, the parties hereby agree as follows: <br />1. Employment; Term. Each Company hereby employs and retains Yaklich and <br />Yaklich hereby accepts such employment, upon the terms and subject to the conditions set <br />forth herein, commencing upon the date hereof and continuing until April 30, 1993 (the <br />-1- <br />