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EXHIBIT 10.28
SECOND AMENDMENT
TO
AGREEMENT OR THE SALE AND PURCHASE OF COKE
This Second Amendment to the Agreement for the Sale and Purchase of Coke (the
'Second Amendment') is entered into this ___ day of June 1995, between Geneva
Steel Company, a Utah corporation ('Buyer') and Mitsubishi International
Corporation, a New York corporation ('Seller').
Recitals:
A. On or about 9th November, 1993, Buyer and Seller entered into a certain
Agreement for Sale and Purchase of Coke effective 12th January, 1993, as amended
28th December, 1993 (the 'Agreement'), wherein Seller agreed to sell and Buyer
agreed to purchase certain Coke.
B. Buyer and Seller desire to further amend the Agreement as set forth herein.
Second Amendment:
NOW, THEREFORE, in consideration of the premises, terms and conditions set forth
herein, and for other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties, intending to be
legally bound, agree as follows:
1. Definitions. Except as otherwise expressly indicated herein the capitalized
terms used in this Second Amendment, including the Recitals hereto, shall have
the same meanings ascribed to such terms in this Agreement.
2. Price. The reference to Section 3.6 in Section 2.1 of the Agreement is hereby
changed to refer to 'Section 3.5' of the Agreement.
3. Quantity. The last sentence of Section 6.1.1 of the Agreement is hereby
amended by appending the following language to the end of such sentence;
provided, however, notwithstanding the foregoing, that with respect to
the Third Contract Year, Buyer shall only purchase three (3) shipments
as follows:
(i) First shipment to be effected, at a price equal to US$_______ per
MT ex-ship at the Destination Port, in June 1995 per M/V 'Neo
Cymbidium' which vessel will load a cargo of approximately ______ MT of
coke as an exception to the required approximately ______ MT per
Panamax ocean vessel; and
(ii) Second shipment to be affected at the Purchase Price for the Third
Contract Year in the second quarter (April to June ) of 1996; and
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(iii) Third shipment to be effected at the Purchase Price for the Third
Contract Year in the third quarter (July to September) of 1996.
4. Benefit. This Second Amendment is for the sole benefit of the parties hereto
and shall not be for the benefit of or enforceable by any other person or
entity.
5. Ratification. Except as specifically amended by this Second Amendment, Seller
and Buyer hereby ratify and reaffirm the terms, warranties and conditions set
forth in the Agreement.
IN WITNESS WHEREOF, the parties have caused this Second Amendment to be executed
effective as of the date first above written.
'Buyer'
GENEVA STEEL COMPANY, a Utah corporation
by: /s/ Xxxxx Xxxxx
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'Seller'
MITSUBISHI INTERNATIONAL CORPORATION,
a New York corporation
by: /s/ Xxxxxxx Xxxxxxxxx
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