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                                                                   Exhibit 10(e)

                      CLEVELAND-CLIFFS INC AND SUBSIDIARIES
                      MANAGEMENT PERFORMANCE INCENTIVE PLAN
                                     SUMMARY

                            EFFECTIVE JANUARY 1, 1999

1.      The Management Performance Incentive Plan ("MPI Plan") provides a
        significant financial incentive for designated management employees of
        Cleveland-Cliffs Inc and subsidiaries ("Company") to maximize Company,
        unit, and personal performance in achieving current results and longer
        range objectives. The Plan is designed to place a significant portion of
        annual compensation at risk with performance and to provide above
        average compensation for outstanding performance.

2.      The MPI Plan is administered by the Company's Compensation and
        Organization Committee ("Committee") which is composed of non-employee
        Directors, none of whom are eligible to participate in the Plan.

3.      Participants in the Plan are officers and salaried employees in
        designated management positions. The number of designated management
        positions is controlled through the salaried position classification
        process to maintain an efficient ratio of management to non-management
        employees.

4.      Each position is classified in a salary grade based on a study of
        national compensation data and internal organizational relationships.
        Position classifications are periodically reviewed to maintain a
        compensation level which is competitive with similar positions in
        similar companies. The general objective is to establish salary grades
        based on 50th percentile of survey data.

5.      The study of national compensation data includes determination of
        typical performance bonus payments for management positions at various
        responsibility levels. This data is used to determine a competitive
        percentage "target bonus" based upon the salary range midpoint. All jobs
        in a salary grade have the same target bonus. The percentage targets may
        be revised periodically according to survey data.

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6.      The Chief Executive Officer ("CEO") approves the classification, salary
        range, and percentage target bonus for all management positions except
        officer positions of Secretary rank and higher, which are approved by
        the Committee. The Committee is provided a list of all position
        classifications, salary ranges and target bonuses annually.

7.      Each year the Committee will approve a bonus funding structure which
        will be used to mathematically determine the participants' bonus pool
        for the then current year based on the Company's performance as measured
        by pre-tax return on net assets (EBT RONA). The levels of EBT RONA
        required under the bonus funding structure will be calibrated each year
        against the recent historical performance of a group of approximately 40
        metals and mining companies.

8.      In the January following the close of each year, the participants' bonus
        pool will be determined using the EBT RONA bonus funding formula. Such
        funded pool can be zero and cannot exceed 300% of the officers'
        aggregate target bonuses and cannot exceed 200% of the non-officers'
        aggregate target bonuses. Of the funded pool, 75% will be distributed to
        participants on a ratable basis according to their target bonuses. The
        remaining 25% of the funded pool will be distributed based upon a
        judgment by the CEO and Committee as to how well each participant's
        performance has supported the Company in meeting its strategic
        objectives for the year. Upon the approval of the Committee, an
        additional bonus pool of 10% of target bonuses will be set aside for
        distribution at the discretion of the CEO. When used, discretionary
        awards will reward participants whose contributions to achievement of
        strategic objectives exceeded all expectations.

9.      At the discretion of the Committee and subject to the availability of
        authorized stock, awards may be made in cash or shares of the Company's
        stock or a combination thereof, and restrictions may be placed on the
        vesting of any stock award.

10.     Generally, bonus payments to participants will be made by the end of
        February for the prior calendar year after audited financial results are
        determined.

11.     Following designation as a participant in the Plan and prior to the
        payment of a bonus, neither the participant nor the estate or anyone
        claiming through such participant has any right to share in the bonus
        pool for such year. However, the Plan provides, at the sole discretion
        of the Committee and CEO, that awards may be made to a participant whose
        employment terminates during the calendar year or to the participant's
        beneficiaries when circumstances warrant favorable consideration for an
        award for such year.

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12.     A participant has no right, title or interest in any assets of the
        Company and subsidiaries by reason of any award made pursuant to this
        Plan and such award reflects only an unsecured contractual obligation to
        make the payment to the participant of the approved award under the
        terms and conditions of the Plan.

13.     The Board of Directors may modify or terminate this Plan at any time.

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                                                                  Exhibit 10 (n)

                              TRUST AGREEMENT NO. 1
                              ---------------------

                Amendments to Exhibits Effective January 1, 2000

         This Amendment to Exhibits to Trust Agreement No. 1 is made as of
January 1, 2000 by and between Cleveland-Cliffs Inc, an Ohio corporation
("Cleveland-Cliffs"), and Key Trust Company of Ohio, N.A., a national banking
association, as Trustee (the "Trustee").

                              W I T N E S S E T H:
                               -------------------

         WHEREAS, on June 12, 1997 Cleveland-Cliffs and the Trustee entered into
an Amended and Restated Trust Agreement No. 1;

         WHEREAS, Section 12 of the Trust Agreement No. 1 provides that such
Trust Agreement may be amended by Cleveland-Cliffs and the Trustee; and

         WHEREAS, Section 9(c) of the Trust Agreement No. 1 provides that
Exhibit A thereto may be amended by Cleveland-Cliffs by furnishing to the
Trustee an amendment thereto.

         NOW, THEREFORE, the parties amend Exhibit B to the Trust Agreement No.
1, and Cleveland-Cliffs furnishes the following Amendment to Exhibit A to Trust
Agreement No. 1 as follows:

         1. Exhibit A is amended to read as attached hereto.

         2. Exhibit B is amended to read as attached hereto.

         IN WITNESS WHEREOF, Cleveland-Cliffs and the Trustee have caused
counterparts of this Amendment to be executed on their behalf on February,
15, each of which shall be an original Amendment.

                                       CLEVELAND-CLIFFS INC

                                       By: /s/ Richard F. Novak
                                          ------------------------------------
                                         Its: Vice President - Human Resources
                                             ---------------------------------
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                                           KEY TRUST COMPANY OF OHIO, N.A.,

                                                              as Trustee

                                           By: /s/ Kelley Clark
                                             -------------------------------
                                             Its: Vice President
                                                 ---------------------------

                                           By: /s/ Margaret Halloran
                                              ------------------------------
                                             Title: Assistant Vice President
                                                   -------------------------

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                                    Exhibit A
                                    ---------

John S. Brinzo
William R. Calfee
Thomas J. O'Neil
Cynthia B. Bezik
Joseph H. Ballway, Jr.

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                                   EXHIBIT B

         "Change of Control" means the occurrence of any of the following
         events:

                           1. The acquisition by any individual, entity or group
         (within the meaning of Section 13(d)(3) or 14(d)(2) of the Exchange
         Act) (a "Person") of beneficial ownership (within the meaning of Rule
         13d-3 promulgated under the Exchange Act) of 30% or more of the
         combined voting power of the then outstanding Voting Stock of
         Cleveland-Cliffs; provided, however, that for purposes of this Section
         1(d)(i), the following acquisitions shall not constitute a Change in
         Control: (A) any issuance of Voting Stock of Cleveland-Cliffs directly
         from Cleveland-Cliffs that is approved by the Incumbent Board (as
         defined in Section 1(d)(ii), below), (B) any acquisition by
         Cleveland-Cliffs of Voting Stock of Cleveland-Cliffs, (C) any
         acquisition of Voting Stock of Cleveland-Cliffs by any employee benefit
         plan (or related trust) sponsored or maintained by Cleveland-Cliffs or
         any Subsidiary, or (D) any acquisition of Voting Stock of
         Cleveland-Cliffs by any Person pursuant to a Business Combination that
         complies with clauses (A), (B) and (C) of Section 1(d)(iii), below; or

                           2. individuals who, as of the date hereof,
         constitute the Board (the "Incumbent Board") cease for any reason to
         constitute at least a majority of the Board; provided, however, that
         any individual becoming a Director subsequent to the date hereof whose
         election, or nomination for election by Cleveland-Cliffs's
         shareholders, was approved by a vote of at least a majority of the
         Directors then comprising the Incumbent Board (either by a specific
         vote or by approval of the proxy statement of Cleveland-Cliffs in which
         such person is named as a nominee for director, without objection to
         such nomination) shall be deemed to have been a member of the Incumbent
         Board, but excluding, for this purpose, any such individual whose
         initial assumption of office occurs as a result of an actual or
         threatened election contest (within the meaning of Rule 14a-11 of the
         Exchange Act) with respect to the election or removal of Directors or
         other actual or threatened solicitation of proxies or consents by or on
         behalf of a Person other than the Board; or

                           3. consummation of a reorganization, merger or
         consolidation involving Cleveland-Cliffs, a sale or other disposition
         of all or substantially all of the assets of Cleveland-Cliffs, or any
         other transaction involving Cleveland-Cliffs (each, a "Business
         Combination"), unless, in each case, immediately following such
         Business Combination, (A) all or substantially all of the individuals
         and entities who were the beneficial owners of Voting Stock of
         Cleveland-Cliffs immediately prior to such Business Combination
         beneficially own, directly or indirectly, more than 55% of the combined
         voting power of the then outstanding shares of Voting Stock of the
         entity resulting from such Business Combination (including, without
         limitation, an entity which as a result of such transaction owns
         Cleveland-Cliffs or all or substantially all of Cleveland-Cliffs's
         assets either directly or through one or more subsidiaries) in
         substantially the same proportions relative to each other as their
         ownership, immediately prior to such Business Combination, of the
         Voting Stock of Cleveland-Cliffs, (B) no Person (other than
         Cleveland-Cliffs, such entity resulting from such Business Combination,
         or any employee benefit plan (or related trust)

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         sponsored or maintained by Cleveland-Cliffs, any Subsidiary or such
         entity resulting from such Business Combination) beneficially owns,
         directly or indirectly, 30% or more of the combined voting power of the
         then outstanding shares of Voting Stock of the entity resulting from
         such Business Combination, and (C) at least a majority of the members
         of the Board of Directors of the entity resulting from such Business
         Combination were members of the Incumbent Board at the time of the
         execution of the initial agreement or of the action of the Board
         providing for such Business Combination; or

                           4. approval by the shareholders of Cleveland-Cliffs
         of a complete liquidation or dissolution of Cleveland-Cliffs, except
         pursuant to a Business Combination that complies with clauses (A), (B)
         and (C) of Section 1(d)(iii).

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