exv10w7



 






DE-AC01-93NE50067

08843672/50067-02

Amendment No. 014




EXHIBIT 10.7




     AMENDMENT NO. 014, dated as of October 27, 2000, to Contract No. DE-AC01-93NE50067,
08843672/50067-02 entered into January 14, 1994, and thereafter amended (the “Contract”) by
and between United States Enrichment Corporation (USEC), Executive Agent of the United States of
America, and Joint Stock Company “Techsnabexport” (TENEX), Executive Agent of the Ministry of
Russian Federation for Atomic Energy (MINATOM), Executive Agent of the Russian Federation, for the
implementation of the Agreement between the Government of the United States and the Government of
the Russian Federation Concerning the Disposition of the Highly Enriched Uranium Extracted from
Nuclear Weapons dated February 18, 1993. Capitalized terms used but not defined herein shall have
the meaning ascribed to such terms in the Contract.



     WHEREAS, TENEX has recently changed its legal name under the laws of the Russian Federation;



     WHEREAS, because the Bureau of Economic Analysis of the U.S. Department of Commerce has
released the final value of the implicit price deflator for the U.S. Gross Domestic Product
(“IPD-GDP”) for the second quarter of calendar year 2000 (copy attached), it is now
possible to fix the price for separative work units ordered for calendar year 2001 under the
Contract;



     WHEREAS, USEC and TENEX (collectively, the “Parties”) wish to update the provision of
the Contract governing remittances to more accurately reflect their practice;



     NOW, THEREFORE, USEC and TENEX agree as follows:



     SECTION 1: The August 2, 2000 version of TENEX’s charter, which was registered with the Moscow
Registrating Chamber and changed TENEX’s brief Russian name and English translations of TENEX’s
brief and full Russian names, does not affect the validity and enforceability of the Contract.
Further, the legal entity acting as “Joint Stock Company ‘Techsnabexport’ or “Techsnabexport” or   is the same
legal entity as TENEX or AO “Techsnsabexport” or Techsnsabexport Co. Ltd. that entered into the
Contract. Therefore, in this Amendment and in all amendments hereafter, references to Joint Stock
Company “Techsnabexport” shall be considered to be references to the same entity previously
referred to as “AO Techsnabexport”.



     SECTION 2: For purposes of determining the pricing of SWU ordered for calendar year 2001 under
the Contract, the Parties shall use “99.74” as the IPD-GDP value for the second quarter of calendar
year 1996 and “106.73” as the IPD-GDP value for the second quarter of calendar year 2000.
Therefore, in accordance with Amendment No. 10 to the Contract, the price for SWU ordered for
calendar year 2001 shall be fixed at US$90.42 (ninety U.S. dollars and forty-two U.S. cents) per
SWU.



TENEX:                                        

USEC:                                        




 









 





DE-AC01-93NE50067

08843672/50067-02

Amendment No. 014




     SECTION 3: The first paragraph of Part I, Section G.04, of the Contract is hereby amended to
read as follows:




“Payments under this contract shall be made in U.S. currency by electronic transfer of
immediately available funds. In the case of the SWU contained in LEU delivered under this
contract, payment shall be made within 60 days following delivery of the LEU, as indicated
on the bill of lading and, in the case of the sample bottles for such LEU, payment shall be
made within 60 days following delivery of the samples, as indicated on the airway bill
applicable to the shipment of the sample bottles; provided (1) USEC timely receives
a properly submitted invoice (in accordance with Attachment 5) or such delivery of LEU and
shipment of samples, and (2) the delivery date on the bill of lading is no earlier than the
date on which the LEU passes over the rail of the ship that will transport the LEU from St.
Petersburg, Russia, to USEC and the delivery date on the airway bill is no earlier than the
date on which the sample bottles are consigned to the international air carrier that will
transport the samples to USEC. TENEX may issue the invoice prior to the date of delivery,
but shall notify USEC (or cause USEC to be notified) of the delivery date in sufficient time
for USEC to make payment in accordance with this Section. (In all other cases, payment
shall be made no later than sixty (60) days after receipt of a properly submitted invoice.)
Best efforts shall be made to pay within thirty (30) days of the date of (a) in the case of
SWU contained in LEU or associated sample bottle, the date of delivery or (b) in all other
cases, the invoice. For purposes of this Section G.04, an invoice submitted by facsimile
shall be deemed to be a properly submitted invoice; provided, that the invoiced
party receives an original invoice that meets the requirements of this contract not later
than thirty (30) days before the due date of payment. If the invoiced party receives the
original invoice less than 30 days before the due date, the due date shall be extended by
one day for each day that the invoice is late.”



     SECTION 4: This Amendment may be executed in two or more counterparts, each of which shall
constitute an original, but all of which, when taken together, shall constitute one and the same
instrument.



     IN WITNESS WHEREOF, the Parties hereto have executed this Amendment as of the date first
written above.



	 	 	 	 	 	 	 	 	 
	UNITED STATES ENRICHMENT

CORPORATION	 	 	 	JOINT STOCK COMPANY
“TECHSNABEXPORT”
	 
	By:

	 	/s/ Philip G. Sewell
	 	 	 	By:
	 	/s/ Alexei A. Grigoriev
	 

	 	 
	 	 	 	 	 	 





 2




USEC:                                        

TENEX: