exv10w1



 





Exhibit 10.1




AMENDMENT NO. 4 TO THE DECEMBER 10, 2004

MOA TO PROVIDE FOR THE

CONTINUED DIRECT PAYMENT OF

USEC ALLOWABLE COSTS




 









 








     This Amendment No. 4 to the December 10, 2004 Memorandum of Agreement between the United
States Department of Energy (“DOE”) and USEC Inc, a Delaware Corporation headquartered at
6903 Rockledge Drive, Bethesda, MD. 20817 is entered into this 18th day of September,
2006 (the “Amendment No. 4 Effective Date”). USEC, Inc. and its wholly owned subsidiary,
United States Enrichment Corporation, are herein referred to as, “USEC.” DOE and USEC are
sometimes referred to herein as “Parties.”



     WHEREAS, on December 10, 2004, the Parties entered into a Memorandum of Agreement for the
Continued Operation of the Portsmouth S&T Facilities for the Processing of Affected Inventory in
Fiscal Year 2005 and Thereafter (the “MOA”); and



     WHEREAS, on May 16, 2005, the Parties entered into Amendment No. 1 to the MOA; and



     WHEREAS, on February 9, 2006, the Parties entered into Amendment No. 2 to the MOA; and



     WHEREAS, acting pursuant to Amendment No. 2 to the MOA, DOE transferred 200 MTU of Feed
Material (“Supplemental Barter Material”) to USEC; and



     WHEREAS, acting pursuant to Amendment No. 2 to the MOA, USEC sold such Supplemental Barter
Material and received in return sales proceeds in the amount of $22.42 million; and



     WHEREAS, such sales proceeds were used to compensate USEC for Allowable Costs incurred in
performing work under the MOA as amended; and



     WHEREAS, on June 23, 2006 the Parties entered into Amendment No. 3 to the MOA and that
amendment provided for the direct payment of USEC Allowable Costs during the “Direct
Compensation Period” (as that term was defined in Amendment No. 3); and



     WHEREAS, paragraph 2 of Amendment No. 3 provides, “USEC shall not incur more than $11,918,671
in Allowable Costs during the Direct Compensation Period”; and



     WHEREAS, USEC anticipates that by on or about September 30, 2006, USEC Allowable Costs during
the Direct Compensation Period will reach $11,918,671; and



     WHEREAS, the Parties wish to continue work under the MOA beyond September 30, 2006;



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     NOW, THEREFORE, the Parties hereby agree that:



     1. USEC may incur up to $24,150,217 in Allowable Costs during the Direct Compensation Period.



     2. Except as expressly set forth above, all provisions contained in the MOA, as amended by
Amendments 1, 2 and 3 are applicable to this Amendment No. 4. In the event there is a conflict
between this Amendment No. 4 and the MOA, as amended, this Amendment No. 4 shall be controlling.



     IN WITNESS WHEREOF, The Parties, through their duly authorized representatives, have signed
this Amendment in two originals as of the Amendment No. 4 Effective Date listed
above.



	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	UNITED STATES DEPARTMENT OF ENERGY	 	 	 	USEC INC.
	 
	 	 	 	 	 	 	 	 
	By:

	 	 	 	 	 	By:	 	 
	 

	 	 
	 	 	 	 	 	 
	 

	 	William E. Murphie
	 	 	 	 	 	Philip G. Sewell
	 
	 	 	 	 	 	 	 	 
	Title: Manager, PPPO	 	 	 	Title: Senior Vice President
	 
	 	 	 	 	 	 	 	 
	Date: September 18, 2006	 	 	 	Date: September 18, 2006







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