The paper represents a model for the tempering effects on quenched bainitic-martensitic steels that describes both the recovery and precipitation phenomena. The latter involves various carbides (Fe3C, V4C3, Mo2C, Cr7C3) and particles of pure Cu. Thermodynamic driving forces in the nucleation of the considered particles have been calculated using empirical formulas obtained with the Thermo-Calc software. The predicted formation kinetics for the considered carbides and Cu particles complies well with relevant experimental data.