EXHIBIT 10-NN
AMENDMENT NO. 1 TO THE
----------------------
AGREEMENT FOR THE TRANSFER OF EMPLOYEES
---------------------------------------
THIS AGREEMENT, by and between NKK CORPORATION, a Japanese corporation, having
its main office at 0-0-0, Xxxxxxxxxx, Xxxxxxx-xx, Xxxxx, Xxxxx (herein called
"NKK") and NATIONAL STEEL CORPORATION, a Delaware corporation having its
principal office at 0000 Xxxxxx Xxxxx Xxxxxxx, Xxxxxxxxx, XX 00000-0000, X.X.X.
(herein called "NSC"), is made effective December 10, 1996.
WITNESSETH:
WHEREAS, NKK and NSC entered into an Agreement for the Transfer of Employees
dated as of May 1, 1995 (the "Agreement"), pursuant to which certain employees
have been transferred from NKK to NSC for the purpose of providing technical
assistance, consulting services and business assistance to NSC; and
WHEREAS, NKK and NSC desire to extend the term of the Agreement for an
additional year, through 1997.
NOW, THEREFORE, in consideration of the premises and mutual covenants herein
contained, the parties hereto, intending to be legally bound, hereby agree as
follows:
1. Capitalized terms as used herein and not defined herein shall have the same
meaning as set forth in the Agreement.
2. In accordance with Paragraph 15 of the Agreement, the term of the Agreement
is hereby extended for an additional Contract Year, from January 1, 1997
through December 31, 1997 (the "1997 Contract Year").
3. The Reimbursable Expenses Cap for the 1997 Contract Year shall be Seven
Million Dollars ($7,000,000).
4. Each party represents and warrants to the other that it has the requisite
power and authority to extend the Agreement, including, without limitation,
that all necessary corporate proceedings have been duly taken as required
under Paragraph 15 of the Agreement.
5. Except as amended hereby, all of the terms of the Agreement shall remain in
full force and effect.
NATIONAL STEEL CORPORATION NKK CORPORATION
By:___________________________ By:______________________________
Title:________________________ Title:___________________________
Date:_________________________ Date:____________________________
