EXHIBIT 99.10
[Mellon Investor Services letterhead]
October 4, 2001
Xxxxx Xxxxxxxx
Manager-Note Financing
United States Steel LLC
000 Xxxxx Xxxxxx
Xxxxxxxxxx, XX 00000-0000
Dear Xxxxx,
This letter of agreement sets forth the terms and conditions by which Mellon
Investor Services LLC, ("we", "our", "us") shall provide to United States Steel
LLC, ("you", "your") our information agent services (the "services") for Project
Ironside.
Services
--------
(i) Assist in the coordination of all printing activities and
advertisement placement if required.
(ii) Establishing contacts with brokers, dealers, banks and other nominees
on your behalf.
(iii) Determining the material requirements.
(iv) Assistance with document review.
(v) Facilitate the distribution of materials to the registered and
beneficial owners and to other interested parties.
(vi) Providing a dedicated toll-free line for all shareholder queries and
responding to all such queries.
(vii) Status reporting to management.
(viii) Payment of all broker forwarding invoices, subject to collection
from you of monies for this purpose.
Fee for Services
----------------
The management fee for acting as information agent is $15,000.00, plus all out-
of-pocket expense incurred by us, including, without limitation, documentation
preparation, telephone, Bank/Broker listings, and postage costs. Such fees
shall be payable upon the execution of this agreement. Invoices for out-of-
pocket expenses shall be rendered monthly as incurred and shall be payable upon
receipt. Our services shall commence upon receipt of a signed copy of this
contract and expire thirty days from the expiration of the offer.
Responsibility
--------------
You shall indemnify and hold us, our directors, officers, employees, and agents
harmless from and against any and all claims, liabilities, losses, damages
and/or expenses, including reasonable attorneys' fees, which any of them shall
or may incur or sustain in connection with the performance of the services or
this agreement, except to the extent caused directly by our negligence or
willful misconduct. This indemnification obligation shall survive the
termination of this Agreement.
Any liability to you we may incur in connection with our provision of services
hereunder (including any additional services mutually agreed to by you and us)
shall be limited to and not exceed the fees actually paid to us for the
provision of the services described above. Anything in this agreement to the
contrary notwithstanding, in no event shall we be liable for special, indirect
or consequential loss or damage of any kind whatsoever, even if we have been
advised of the likelihood of such loss or damage and regardless of the form of
action.
Miscellaneous
-------------
This agreement shall be made in, governed by, and construed in accordance with
the laws of the State of New York, without regard to principles of conflicts of
law.
All information shall be sent to your address as above written or such other
address as you may advise us in writing, or orally confirmed in writing.
This agreement represents the entire understanding of the parties with respect
to the subject matter hereof, superseded any and all prior understandings, oral
or written,
relating hereto and may not be changed orally. Any waiver or change of any of
the provisions hereof must be in writing and signed by the parties hereto. The
failure of either party hereto at any time to require performance by the other
party of any provision hereof shall not affect the right of such party to
require performance at any time thereafter.
If the foregoing terms and conditions are acceptable to you, please sign and
return to us the counterpart of this letter of agreement.
Very truly yours,
MELLON INVESTOR SERVICES LLC
By:
Title:
Date:
ACCEPTED
UNITED STATES STEEL LLC
By:
Title:
Date:
