0000764065-14-000018 Sample Contracts

CHANGE IN CONTROL SEVERANCE AGREEMENT
Change in Control • February 14th, 2014 • Cliffs Natural Resources Inc. • Metal mining • Ohio

This CHANGE IN CONTOL SEVERANCE AGREEMENT (this “Agreement”), dated and effective as of this 1st day of January, 2014 (the “Effective Date”) is made and entered into by and between Cliffs Natural Resources Inc., an Ohio corporation (the “Company”), and _____________________ (the “Executive”).

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RELEASE
Cliffs Natural Resources Inc. • February 14th, 2014 • Metal mining • Ohio

This Release is entered into knowingly and voluntarily on the date specified on the signature page hereto by Joseph A. Carrabba (“Employee”), in favor of Cliffs Natural Resources Inc. and its affiliates identified in Section III.A below (collectively, the “Company”).

NON-EMPLOYEE DIRECTOR PHANTOM STOCK UNIT AWARD AGREEMENT
Non-Employee Director Phantom Stock Unit Award Agreement • February 14th, 2014 • Cliffs Natural Resources Inc. • Metal mining • Ohio

This PHANTOM STOCK UNIT AWARD AGREEMENT (the “Agreement”), dated as of July 9, 2013, is made by and between Cliffs Natural Resources Inc. (the “Company”), and James F. Kirsch (the “Director”).

PERFORMANCE RESTRICTED SHARE UNITS AGREEMENT
Performance Restricted Share Units Agreement • February 14th, 2014 • Cliffs Natural Resources Inc. • Metal mining • Ohio

WHEREAS, XXXX (the “Grantee”) is an employee of Cliffs Natural Resources Inc. (the “Company”) or a Subsidiary, as defined in the Company’s Amended and Restated Cliffs 2007 Incentive Equity Plan, as amended (the “Plan”); and

PELLET SALE AND PURCHASE AGREEMENT
Pellet Sale and Purchase Agreement • February 14th, 2014 • Cliffs Natural Resources Inc. • Metal mining

THIS AGREEMENT, entered into, dated and effective as of April 10, 2002 (“Agreement”), by and among THE CLEVELAND-CLIFFS IRON COMPANY, an Ohio corporation (“Iron”), CLIFFS MINING COMPANY, a Delaware corporation (“Mining”), NORTHSHORE MINING COMPANY, a Delaware corporation (“Northshore”), NORTHSHORE SALES COMPANY, an Ohio corporation ("Sales"; Iron, Mining, Northshore and Sales being collectively referred to herein as “Cliffs”), INTERNATIONAL STEEL GROUP INC., a Delaware corporation (“ISG”), ISG CLEVELAND INC., a Delaware corporation, (“ISG Cleveland”), and ISG INDIANA HARBOR INC., a Delaware corporation (“ISG Indiana Harbor”; ISG, ISG Cleveland and ISG Indiana Harbor being collectively referred to herein as “Steel”).

SEVERANCE AGREEMENT
Severance Agreement • February 14th, 2014 • Cliffs Natural Resources Inc. • Metal mining • Ohio

This Agreement is entered into knowingly and voluntarily by and between Donald J. Gallagher (“Employee”), and Cliffs Natural Resources Inc. and its affiliates identified in Section III.A below (collectively, the “Company”). Employee and the Company are referred to each individually as a “Party” and collectively as the “Parties.”

FIRST AMENDMENT TO PELLET SALE AND PURCHASE AGREEMENT
Sale and Purchase Agreement • February 14th, 2014 • Cliffs Natural Resources Inc. • Metal mining

This FIRST AMENDMENT TO PELLET SALE AND PURCHASE AGREEMENT (the “Amendment”) is entered into, dated and effective as of December 16, 2004, by and among THE CLEVELAND-CLIFFS IRON COMPANY, an Ohio corporation (“CCIC”), CLIFFS MINING COMPANY, a Delaware corporation (“CMC”), NORTHSHORE MINING COMPANY, a Delaware corporation (“Northshore”), CLIFFS SALES COMPANY, an Ohio corporation formerly known as Northshore Sales Company (“Sales”; CCIC, CMC, Northshore and Sales, collectively, “Cliffs”), INTERNATIONAL STEEL GROUP INC., a Delaware corporation (“ISG”), ISG CLEVELAND INC., a Delaware corporation (“ISG Cleveland”), and ISG INDIANA HARBOR INC., a Delaware corporation (“ISG Indiana Harbor”; ISG, ISG Cleveland and ISG Indiana Harbor, collectively, “Steel”).

PERSONAL & CONFIDENTIAL
Cliffs Natural Resources Inc. • February 14th, 2014 • Metal mining

This letter details the terms and conditions applicable to your international position in Cleveland, USA (the “Host Country”), and is a follow up to the letter dated July 17, 2013.

RELEASE
Release • February 14th, 2014 • Cliffs Natural Resources Inc. • Metal mining • Ohio

This Release (the “Release”) is entered into knowingly and voluntarily on the date specified on the signature page hereto by David B. Blake (“Employee”), in favor of Cliffs Natural Resources Inc. and its affiliates identified in Section II.A, below (collectively, the “Company”).

PELLET SALE AND PURCHASE AGREEMENT
Sale and Purchase Agreement • February 14th, 2014 • Cliffs Natural Resources Inc. • Metal mining

This AGREEMENT (this "AGREEMENT") is entered into, dated as of December 31, 2002, by and among THE CLEVELAND-CLIFFS IRON COMPANY, an Ohio corporation ("CCIC"), CLIFFS MINING COMPANY, a Delaware corporation ("CMC"; CCIC and CMC, collectively, "CLIFFS"), and ISPAT INLAND INC., a Delaware corporation ("INLAND"). Capitalized terms used herein and not defined in context or defined (or cross-referenced) in Section 1 shall have the meanings given to them in the Partnership Agreement (defined below).

CLIFFS NATURAL RESOURCES INC. 2012 INCENTIVE EQUITY PLAN RESTRICTED SHARE UNIT AWARD MEMORANDUM
Restricted Share Unit Award Agreement • February 14th, 2014 • Cliffs Natural Resources Inc. • Metal mining • Ohio

Employee: PARTICIPANT NAME Date of Grant: GRANT DATE Number of Shares Subject to Award: SHARES GRANTED Vesting Dates: [__%] of the Restricted Share Units covered by this Memorandum and the Award Agreement shall become Vested on each of [____________, 20__, _____________, 20__ and ____________, 20__ .] (each such date a “Vesting Date”)

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