Document:

Coke Purchase Agreement

 Exhibit 10.27 
 Execution Version 
 SPECIFIC TERMS IN THIS EXHIBIT HAVE BEEN
REDACTED BECAUSE CONFIDENTIAL 
 TREATMENT FOR THOSE TERMS HAS BEEN REQUESTED. THE REDACTED MATERIAL HAS 

BEEN SEPARATELY FILED WITH THE SECURITIES AND EXCHANGE COMMISSION, AND THE 

TERMS HAVE BEEN MARKED AT THE APPROPRIATE PLACE WITH FIVE ASTERISKS (*****). 

COKE PURCHASE AGREEMENT 
 by and between 
 Haverhill North Coke Company 

and 
 AK Steel
Corporation 
 Dated August 31, 2009 

 TABLE OF CONTENTS 

 

							
	 ARTICLE I Definitions; Acknowledgement; Basic Obligations of the Parties
	  	 	1	  
	 1.1
	    	 Definitions
	  	 	1	  
	 1.2
	    	 Phase I and Phase II Plants
	  	 	1	  
	 1.3
	    	 Basic Obligations of the Parties
	  	 	1	  
	 1.4
	    	 Guarantee of Seller’s Obligations
	  	 	2	  
	 1.5
	    	 Transfer Restrictions
	  	 	2	  
	 1.6
	    	 Holding Guaranty
	  	 	2	  
	 ARTICLE II Term
	  	 	3	  
	 2.1
	    	 Term
	  	 	3	  
	 ARTICLE III COKE PRICE AND PAYMENT TERMS
	  	 	3	  
	 3.1
	    	 Coke Price
	  	 	3	  
	 3.2
	    	 Section 45 Credits
	  	 	7	  
	 3.3
	    	 Terms of Payment/Invoicing
	  	 	9	  
	 3.4
	    	 Production Turndown Adjustment Fee
	  	 	10	  
	 3.5
	    	 By-Products; Option to Purchase Breeze
	  	 	11	  
	 3.6
	    	 Audit Rights
	  	 	11	  
	 ARTICLE IV Coal Blends
	  	 	11	  
	 4.1
	    	 Selection
	  	 	11	  
	 4.2
	    	 Sampling and Testing
	  	 	11	  
	 4.3
	    	 Unsuitability or Insufficiency of Coal Blends
	  	 	12	  
	 4.4
	    	 Authority of Seller
	  	 	12	  
	 ARTICLE V Coke Sampling, Analysis and Quality
	  	 	12	  
	 5.1
	    	 Coke Moisture and Coke Quality
	  	 	12	  
	 5.2
	    	 Title
	  	 	14	  
	 5.3
	    	 Exclusivity
	  	 	14	  
	 ARTICLE VI Obligations Related to Coke Supply and Deliveries
	  	 	14	  
	 6.1
	    	 [Intentionally omitted]
	  	 	14	  
	 6.2
	    	 Coke Supply and Purchase Obligation
	  	 	14	  
	 6.3
	    	 Coke Deliveries
	  	 	15	  
	 6.4
	    	 Third Party Supplied Coke
	  	 	16	  
	 6.5
	    	 Purchaser Obtained Coke
	  	 	17	  
	 6.6
	    	 Production Turndown
	  	 	17	  
	 ARTICLE VII Changes in Governmental Requirements
	  	 	18	  
	 7.1
	    	 Government Mandated Additional Expenditures
	  	 	18	  
	 7.2
	    	 Government Mandated Additional Capital Expenditures
	  	 	19	  
	 ARTICLE VIII Force Majeure Event(s)
	  	 	19	  
	 8.1
	    	 Seller Force Majeure Event(s)
	  	 	19	  
	 8.2
	    	 Purchaser Force Majeure Event(s)
	  	 	20	  
	 ARTICLE IX Dispute Resolution
	  	 	21	  
	 9.1
	    	 Attempt at Resolution
	  	 	21	  
	 9.2
	    	 Interpretation and Dispute Resolution
	  	 	21	  
	 9.3
	    	 Consolidation
	  	 	22	  
	 ARTICLE X Representations and Warranties
	  	 	22	  
	 10.1
	    	 Seller’s Representations and Warranties
	  	 	22	  
	 10.2
	    	 Purchaser’s Representations and Warranties
	  	 	22	  

  
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	 10.3
	    	 Holding’s Representations and Warranties
	  	 	23	  
	 ARTICLE XI Default and Remedies
	  	 	24	  
	 11.1
	    	 Purchaser’s Events of Default
	  	 	24	  
	 11.2
	    	 Seller’s Events of Default
	  	 	24	  
	 11.3
	    	 Pursuit of Remedies
	  	 	24	  
	 11.4
	    	 Termination by Seller for Breach by Purchaser
	  	 	24	  
	 11.5
	    	 Termination by Purchaser for Breach by Seller
	  	 	25	  
	 11.6
	    	 Termination by Purchaser Resulting From Shutdown of Iron Producing Portion of Ashland Plant
	  	 	25	  
	 11.7
	    	 Termination by Seller Due to Coke Production Shortfall
	  	 	25	  
	 11.8
	    	 Waiver of Right to Terminate
	  	 	25	  
	 11.9
	    	 Automatic Termination
	  	 	26	  
	 11.10
	    	 No Release of Accrued Obligations
	  	 	26	  
	 ARTICLE XII Miscellaneous Provisions
	  	 	26	  
	 12.1
	    	 Seller’s Indemnification of Purchaser for Infringement
	  	 	26	  
	 12.2
	    	 Notices
	  	 	26	  
	 12.3
	    	 Limitation of Liability; Exclusive Remedies
	  	 	26	  
	 12.4
	    	 Rules of Interpretation
	  	 	27	  
	 12.5
	    	 Governing Law
	  	 	27	  
	 12.6
	    	 Severability
	  	 	27	  
	 12.7
	    	 Confidentiality
	  	 	27	  
	 12.8
	    	 Entire Agreement
	  	 	28	  
	 12.9
	    	 Survival
	  	 	28	  
	 12.10
	    	 Captions
	  	 	28	  
	 12.11
	    	 Construction of Agreement
	  	 	28	  
	 12.12
	    	 Independent Contractor
	  	 	28	  
	 12.13
	    	 Waivers and Remedies
	  	 	28	  
	 12.14
	    	 Assignability
	  	 	29	  
	 12.15
	    	 Further Assurances
	  	 	29	  
	 12.16
	    	 Cooperation with Financing Efforts
	  	 	29	  
	 12.17
	    	 Binding Effect
	  	 	30	  
	 12.18
	    	 No Third Party Beneficiaries
	  	 	30	  
	 12.19
	    	 Mutuality of Drafting
	  	 	30	  
	 12.20
	    	 Counterparts Facsimile Signatures
	  	 	30	  
	 12.21
	    	 No Setoff
	  	 	30	  
	 12.22
	    	 Audits
	  	 	30	  

  

			
	APPENDICES:	  	
		
	Appendix A	  	Definitions
		
	SCHEDULES:	  	
		
	Schedule 1.4	  	Guarantee of Seller’s Obligations
		
	Schedule 1.5	  	Guarantee of Purchaser’s Obligations

  
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	Schedule 4.1	  	Committed Coal Specifications
		
	Schedule 5.1	  	Coke Quality Standards
		
	Schedule 6.2(a)	  	Coke Supply and Purchase Obligation
		
	Schedule 7.2	  	Government Mandated Additional Capital Expenditures (Example)
		
	Schedule A-1	  	Lost Energy Charge
		
	ATTACHMENTS:	  	
		
	Attachment A	  	Fuel Surcharge

  
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 COKE PURCHASE AGREEMENT 

THIS COKE PURCHASE AGREEMENT dated as of August 31, 2009 (the “Effective Date”), is made by and between Haverhill
North Coke Company, a Delaware corporation (“Seller”) and AK Steel Corporation, a Delaware corporation (“Purchaser”). This Agreement is a companion accord to the Energy Sales Agreement between Seller and Purchaser dated
concurrently with this Agreement (the “Related Energy Sales Agreement”). 
 For good and valuable consideration,
including the Related Energy Sales Agreement, the Parties, intending to be legally bound, agree as follows: 
 ARTICLE I

 DEFINITIONS; ACKNOWLEDGEMENT; BASIC OBLIGATIONS OF THE PARTIES 

1.1 Definitions. The definitions of certain capitalized terms used in this Agreement are contained in the attached Appendix A.

 1.2 Phase I and Phase II Plants. 
 (a) Seller has constructed a one hundred (100) oven metallurgical coke making plant and related facilities and equipment located at Haverhill (Franklin Furnace), Ohio (the “Site”) owned and
operated by Seller based upon heat recovery technology that is proprietary to Seller and its Affiliates (hereinafter referred to as the “Phase I Plant”). The Phase I Plant is designed to produce approximately five hundred fifty thousand
(550,000) Tons of Coke based upon the processing of the Base Case Coal Blend into Coke. The Phase I Plant does not produce electrical energy. 
 (b) Seller has constructed an additional one hundred (100) oven metallurgical coke making plant and related facilities and equipment located at the Site utilizing the heat recovery technology that is
proprietary to Seller and its Affiliates (the “Phase II Plant”) and an associated cogeneration plant also located at the Site (“Cogeneration Plant”). The Phase II Plant is designed to produce approximately five hundred fifty
thousand (550,000) Tons of Coke based upon the processing of the Base Case Coal Blend into Coke. The Cogeneration Plant will produce electrical energy by utilizing flue gas from the Phase II Plant. 

1.3 Basic Obligations of the Parties. Subject to the terms, conditions and requirements of this Agreement: 

(a) Delivery and Acceptance Obligations. 
 (i) From September 1, 2009 through December 31, 2009, Seller shall deliver to Purchaser and Purchaser shall accept approximately thirteen thousand five hundred (13,500) Tons of Coke per
Month, except for Nonconforming Coke Tonnage that is rejected by Purchaser pursuant to Section 5.1(b)(iii). 

  
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 (ii) From January 1, 2010 throughout the balance of the Term, Seller
shall deliver to Purchaser and Purchaser shall accept all Coke Tonnage pursuant to Section 6.2, except for Nonconforming Coke Tonnage that is rejected by Purchaser pursuant to Section 5.1(b)(iii). 

(b) Pricing and Payment. During the Term, the purchase price payable by Purchaser to Seller in respect of Coke Tonnage is the Coke
Price (except for Nonconforming Coke Tonnage that is rejected by Purchaser pursuant to Section 5.1(b)(iii)), and for Nonconforming Coke Tonnage that is not rejected by Purchaser is the applicable price set forth in Section 5.1(b)(iii).
Such amounts shall be payable in accordance with Section 3.3. 
 (c) Integrated Transaction. The Parties acknowledge
that (i) they are entering into this Agreement and the Related Energy Sales Agreement as a single integrated transaction, (ii) they would not enter into the Related Energy Sales Agreement without also entering into this Agreement, and
(iii) this Agreement and the Related Energy Sales Agreement are inextricably linked technically and economically, that neither would be feasible without the other, and they constitute a single integrated transaction and agreement. 

1.4 Guarantee of Seller’s Obligations. The obligations of Seller under this Agreement shall be guaranteed by SunCoke and Sun
Coal & Coke Company, a Delaware corporation, pursuant to a guaranty in the form of Schedule 1.4 that Seller shall cause to be executed and delivered to Purchaser at the time of the execution and delivery of this Agreement. 

1.5 Transfer Restrictions. Purchaser shall not transfer or otherwise dispose of the Middletown Plant without the prior Written
consent of Seller. If Purchaser wishes to sell, lease, transfer or otherwise dispose of all or a substantial portion of its assets (other than the Middletown Plant), whether in a single transaction or series of transactions, then it shall cause to
be delivered to Seller at least forty-five (45) days prior to such sale, lease, transfer or other disposition (i) a Written notice of such sale, lease, transfer or other disposition, (ii) a guaranty executed by AK Steel Holding
Corporation, a Delaware corporation (“Holding”) in the form of Schedule 1.5, and (iii) an opinion of independent legal counsel to Holding, which legal counsel shall be reasonably satisfactory to Seller and which opinion shall be in
form and substance reasonably satisfactory to Seller, to the effect that such guaranty is the legal, valid and binding obligation of, and enforceable against Holding, subject to customary exceptions. The Parties acknowledge that in the event any of
the foregoing obligations are breached by Purchaser or Holding, Seller shall be entitled to both interim and permanent injunctive relief in respect of such obligations, including (as applicable) injunctive relief and specific enforcement against
Purchaser and Holding. Notwithstanding the foregoing, Purchaser shall not be restricted from creating or permitting to exist (and the foregoing provisions shall not apply to) any lien, security interest or other encumbrance on any of its assets.

 1.6 Holding Guaranty. Following the expiration, cancellation or termination of the Indenture, Holding shall promptly
(i) notify Seller of such circumstance in Writing, and (ii) execute and deliver to Seller a guaranty of Holding in favor of Seller in the form of Schedule 1.5. Such guaranty obligation shall be specifically enforceable by Seller against
Holding. 

  
 2 

 ARTICLE II 
 TERM 
 2.1 Term. 

(a) Subject to Section 2.1(b), the term of this Agreement (“Term”) shall commence on the Effective Date and, subject to
earlier termination in accordance with this Agreement, shall continue in effect for twelve (12) Contract Years. Upon the conclusion of such twelve (12) Contract Years, this Agreement shall automatically renew for two (2) successive
five (5) year terms each unless notice of termination is given by either Party at least one (1) year prior to the end of the Term. 
 (b) Notwithstanding anything to the contrary in this Agreement, neither Party shall have any obligations under this Agreement unless Seller, Severstal Warren, Inc. (“Severstal Warren”) and
Severstal Dearborn, Inc. (“Severstal Dearborn”) have, on or before August 31, 2009, entered into a termination agreement, in form and substance satisfactory to Seller in its sole discretion, pursuant to which (i) Seller and
Severstal Warren agree to terminate that certain Coke Purchase Agreement, dated as of November 21, 2006, between Seller and Severstal Warren, effective as of September 1, 2009, and (ii) Seller and Severstal Dearborn agree to terminate
that certain Coke Purchase Agreement, dated as of November 21, 2006, between Seller and Severstal Dearborn, effective as of January 1, 2010 (the “Severstal Termination Agreement”). 

(c) Seller shall notify Purchaser promptly following August 31, 2009 regarding whether Seller, Severstal Warren and Severstal
Dearborn have entered into the Severstal Termination Agreement on or before August 31, 2009. 
 ARTICLE III

 COKE PRICE AND PAYMENT TERMS 
 3.1 Coke Price. 
 (a) Components. 

(i) During the period of September 1, 2009 through December 31, 2009, the Coke Price is the sum of
(A) $***** per Ton of Coke, and (B) any Per Ton Fuel Surcharge; and 
 (ii) During the period of
January 1, 2010 through December 31, 2010, the Coke Price is the sum of (A) $***** per Ton of Coke, (B) the Per Ton Railroad Rate Index Charge and (C) any Per Ton Fuel Surcharge; and 

(iii) During each Contract Year commencing January 1, 2011, the Coke Price is the sum of (A) the Adjusted Fixed
Price Component, (B) subject to Section 3.1(c)(vi), the Forecasted O&M Component, and (C) the Coal Cost Component. 

  
 3 

 (b) Adjusted Fixed Price Component. 

(i) The Fixed Price Component is $***** per Ton of Coke. 

(ii) The Parties acknowledge that Coke production depends upon the moisture content of each Coal Blend. Accordingly, the
Fixed Price Component shall be adjusted (increased or decreased) based upon the Weighted Average moisture content of the Coals comprising each Coal Blend for the applicable Month. Accordingly, if the actual Weighted Average moisture content of such
Coal Blend Tonnage exceeds *****%, then for each *****% increment thereof in excess of *****%, the Fixed Price Component shall be correspondingly increased by *****%. Conversely, if the actual Weighted Average moisture content of such Coal Blend
Tonnage is less than *****%, then for each *****% increment thereof less than *****%, the Fixed Price Component shall be correspondingly reduced by *****%. By way of example, if the actual Weighted Average moisture content of the Coal Blend is
*****%, then such adjusted Fixed Price Component (the “Adjusted Fixed Price Component”) is $*****(namely, the sum of the (i) Fixed Price Component plus the (ii) product of the Fixed Price Component multiplied by *****%).
Conversely, and by way of example, if the actual Weighted Average moisture content of the Coal Blend is *****%, then such Adjusted Fixed Price Component is $***** (namely, the sum of (i) Fixed Price Component minus the (ii) product of the
Fixed Price Component multiplied by *****%). 
 (c) Forecasted O&M Component, Actual O&M Component and Annual
True-Up. 
 (i) [Intentionally omitted] 

(ii) At least sixty (60) days prior to January 1, 2011 and the commencement of each subsequent Contract Year,
Seller will prepare a good faith forecast (the “Forecast”) that sets forth in reasonable detail its good faith estimate of the O&M Expenses in respect of the Coke Plants for the next ensuing Contract Year. For the avoidance of doubt,
such O&M Expenses include operating and maintenance costs in respect of the Cogeneration Plant notwithstanding the circumstance that payments in respect of electrical energy produced by such Cogeneration Plant are made pursuant to the Related
Energy Sales Agreement. 
 (iii) Without duplication or double-counting in respect of O&M Expenses, such
Forecast shall be based upon (i) subject to any applicable confidentiality restrictions in respect of other customers of Seller’s Affiliates, typical historic operations and maintenance history at other domestic coke making facilities that
utilize SunCoke’s proprietary heat recovery coke making technology as such history applies to the Coke Plants; (ii) historic operations and maintenance history at the Coke Plants; (iii) subject to Article VII, compliance with
Governmental Requirements in respect of the Coke Plants, including Government Mandated Additional Expenses; (iv) property taxes in respect of the Coke Plants; (v) Targeted Coke Production in respect of the Coal Blend(s) to be utilized
during such Contract Year; (vi) labor expenses in respect of the Coke Plants; (vii) Prudent Operating and Maintenance Practices; (viii) the reasonable cost of all premiums 

  
 4 

 
or, as applicable, allocations, in respect of required and commercially reasonable insurance coverages for the Coke Plants, Coke Plant operations, and employees of Seller (provided such
allocations or premiums constitute O&M Expenses), and (ix) other reasonable conditions specific to the Coke Plants and Seller’s performance hereunder (the “Guidelines”); provided, however, but subject to Section 7.1(c),
such other reasonable conditions shall not include fines or penalties in respect of violations of Governmental Requirements including Governmental Requirements pertaining to the environment, and employee health and safety. Such Forecast shall be
delivered to the Purchaser for approval by it, which approval shall not be unreasonably withheld, conditioned or delayed. 
 (iv) Within fifteen (15) days following Seller’s delivery of each such Forecast to Purchaser, Seller and Purchaser shall confer in good faith for the purpose of reviewing and approving such
Forecast. If, within thirty (30) days thereafter, the Parties do not agree upon such Forecast, then Purchaser shall promptly deliver to Seller (no later than ten (10) days following the expiration of such thirty (30) day period)
Written notice of its disapproval of such Forecast that sets forth the specific grounds therefor including any alleged inconsistency thereof with the Guidelines. The Parties may thereafter submit such dispute to arbitration in accordance with
Section 9.2; provided, however, pending such resolution, (i) the O&M Expenses in respect of the preceding Contract Year, as adjusted in accordance with the Index Formula (the “Presumed O&M Expenses”), shall be the basis
for the O&M Expenses for the period during which such dispute is pending, and (ii) if, following any such arbitration, it is determined that the allowable O&M Expenses are greater or less than the Presumed O&M Expenses, then
Purchaser or, as applicable, Seller shall pay to the prevailing Party the product of the difference between (i) the (y) Forecasted O&M Component based upon the Presumed O&M Expenses for the applicable Contract Year, and
(z) the Forecasted O&M Component based upon the O&M Expenses approved pursuant to such arbitration, multiplied by (ii) the Coke Tonnage sold by Seller to Purchaser based upon such Presumed O&M Expenses, plus interest thereon
accrued thereon at the Interest Rate. Such payment shall be, as applicable, added to or credited against the amount otherwise payable by Purchaser to Seller in accordance with the Monthly invoice immediately following any such award. 

(v) The Forecasted O&M Component for each Contract Year will be determined in accordance with the following formula:

 Forecasted O&M Component = *****. 

(vi) Seller shall endeavor in good faith to operate and maintain the Coke Plants in accordance with the Forecasted
O&M Component for the applicable Contract Year in accordance with Prudent Operating and Maintenance Practices. Subject to the foregoing, within thirty (30) days following the conclusion of each Contract Year, Seller will submit to Purchaser
a Written report that summarizes the actual O&M Component for such Contract Year (the “Actual O&M Component”) as determined in accordance with the following formula: 

Actual O&M Component = *****. 

  
 5 

 Where applicable, but subject to Article VII, Purchaser shall pay Seller an amount equal to ***** Such
payment or credit shall, as applicable, be added to or deducted from the amounts otherwise payable in accordance with the invoice in respect of the Month during which such credit or payment is determined, and shall be subject to reasonable
verification by Purchaser. 
 (d) Coal Cost Component. 

(i) Coal Costs are all costs, expenses and expenditures, including Taxes, related to sampling, testing, selecting,
purchasing, storing, handling of Coals, and in respect of transporting, and delivering the Coals to the Coke Plants, but excluding overhead or administrative costs of Seller or its Affiliates in respect thereof. Unless otherwise approved by
Purchaser, each Coal comprising the selected Coal Blend shall be purchased by Seller for a commercially reasonable price, and in accordance with commercially reasonable standards, terms and conditions based upon thirty (30) day payment terms.
Coal Costs do not include penalties, assessments and damages recovered by Seller in respect of Coal contracts with Coal suppliers to the extent such penalties, assessments and/or damages result in Coke Price reductions as set forth in Schedule 5.1
or any successor schedule (in which case such penalties, assessments and/or damages shall be for the account of Seller); provided, however, if such penalties, assessments and/or damages exceed such Coke Price reductions, or such penalties,
assessments and/or damages do not result in a Coke Price reduction, then any such excess amount(s) or such penalties, assessments and/or damages not resulting in a Coke Price reduction will be deducted from the Coal Costs. 

(ii) The Coal Cost Component is (i) the actual Monthly Weighted Average Coal Costs, divided by (ii) the product
of (y) the Moisture Adjusted Coal Blend Tonnage charged to the coke ovens at the Coke Plants set forth in each applicable invoice, taking into account Coal Handling Losses, and (z) the Guaranteed Coke Yield Percentage. 

(iii) The Moisture Adjusted Coal Blend Tonnage is the Weighted Average thereof for each applicable Month, and accounts for
Coal Blend moisture on a fixed *****% basis to be determined in accordance with the following formula: 
 Moisture Adjusted
Coal Blend Tonnage = *****. 
 Such actual moisture shall be determined based on sampling of the actual Coal Blend Tonnage
immediately prior to coking thereof, and the testing and analysis on a composite basis, all of which shall be performed in accordance with ASTM Standards. 
 (iv) Coal Handling Losses shall be fixed at *****%, and shall be accounted in accordance with the following formula: 
 ***** 
 (v) Seller’s static scale shall weigh Coal Blend
Tonnages immediately prior to coking. Such scale shall have an accuracy of not less than plus or minus (+/-) 0.25%, and shall be calibrated in accordance with the manufacturer’s instructions at

  
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Seller’s sole cost and expense. Absent Manifest Error, such weight determinations shall be conclusive and binding on the Parties. 

(vi) The Guaranteed Coke Yield Percentage is determined in accordance with the following formula: 

Blast furnace coke “dry” yield equals *****. 
 Seller will re-determine the Guaranteed Coke Yield Percentage whenever the proportionate share of Coals within any Coal Blend is increased or decreased by 1.5% or more. 

(e) Determination of Coke Tonnage. All Coke Tonnage shall be weighed by track scales operated by Seller. Such scales shall have an
accuracy of not less than 0.25% and shall be calibrated by an independent third party at a minimum of once per year or more often as required by the manufacturer’s instructions or Prudent Operating and Maintenance Practices, the cost of which
calibration shall be an O&M Expense. Absent Manifest Error, such weight determinations shall be conclusive and binding on the Parties. All Coke Tonnage shall be adjusted to a *****% moisture content in accordance with the following formula:

  

	 Tons Sold 
	=         *****  ***** 

 The actual moisture percentage content of Coke shall be determined in accordance with Section 5.1. 
 3.2 Section 45 Credits. 
 (a) In General. Provided Purchaser is
not in default of this Agreement, starting in the Contract Year commencing January 1, 2010, if any Coke qualifies for a credit under Section 45 of the Internal Revenue Code of 1986, or any similar or successor provision (“Section 45
Credits”) during any year during which Coke is produced during the Term, then Seller shall provide Purchaser with a credit in respect of Coke Tonnage sold by Seller to Purchaser during such year, provided that in any Production Turndown Period
the credit provided to Purchaser shall be reduced proportionately based on the Coke Purchase Shortfall. 
 (b) Sunoco
Realized Value. Where Sunoco or its Affiliates are the sole investors in Seller, such credit shall be equal to *****% of the Sunoco Realized Value of such Section 45 Credits. Such Sunoco Realized Value is the pre-tax value realized by
Sunoco in respect of such Section 45 Credits, which shall be determined by dividing the amount of such Section 45 Credits by one (1) minus the sum of (x), where (x) is the highest marginal federal income tax rate applicable to
corporations, minus, in respect of section 199 of the Internal Revenue Code of 1986, (i) two (2) percentage points in respect of year 2009, or (ii) three percentage points for each subsequent year during which such Section 45
Credits may be available; provided, however, such Sunoco Realized Value shall also take into account any change in law, phase out, the ability of Sunoco to utilize the Section 45 Credits, or other circumstances relevant to such Sunoco Realized
Value determination. The ability of Sunoco to utilize such Section 45 Credits shall be determined by comparing Sunoco’s current federal consolidated tax liability with and without the Section 45 Credits attributable to Coke sales to

  
 7 

 
Purchaser in respect of each such year. The determination of such Sunoco Realized Value in respect of each year during which Section 45 Credits may be available shall be made on or before
October 1st of the subsequent year and shall be credited on the invoice for such Month; provided, however, that if there is any change in law that repeals or reduces the amount of the section 199 deduction of the Code, or that limits the
benefit or availability of such deduction, in either case with respect to income arising from the sale of Coke under this Agreement, then the amounts subtracted pursuant to subparts (i) and (ii) of this Section 3.2(b) shall be reduced
to reflect such change. 
 (c) Other Realized Value. Where Sunoco or its Affiliates, and any third party or parties (the
“Third Party Investor(s)”), are the investors in Seller, such credit shall be equal to *****% of the Other Realized Value of such Section 45 Credits. Such Other Realized Value is the product of ***** The determination of such Other
Realized Value in respect of each year during which Section 45 Credits may be available shall be made on or before the last Month of subsequent year and shall be credited on the invoice for such Month. 

(d) Increases or Reductions. If the Sunoco Realized Value or Other Realized Value of any Section 45 Credits on Coke sales to
Purchaser is thereafter reduced by the carry back of a net operating loss in respect of an amended return, disallowance of all or a portion of the Section 45 Credits, or the inability of Sunoco or (as applicable) the Third Party Investor(s) to
utilize the Section 45 Credits after final resolution of an IRS audit, then Purchaser shall pay to Seller, within thirty (30) days following Seller’s Written notification to Purchaser of such reduction, an amount equal to
(i) *****% of the Sunoco Realized Value and (as applicable) the Other Realized Value that would otherwise would have been realized but for such reduction plus *****% of any fines and/or penalties arising from such disallowance, plus
(ii) interest thereon, computed from the date of filing of the consolidated income tax return of Sunoco or, as applicable, Third Party Investor(s) through the date on which such amount is paid by Purchaser to Seller. Such interest shall be
equal to the additional interest owed by Sunoco or (as applicable) Third Party Investor(s), or the reduction in interest due to Sunoco or (as applicable) Third Party Investor(s) if Sunoco or (as applicable) Third Party Investor(s) is in an
overpayment position, determined by computing Sunoco’s or (as applicable) Third Party Investor(s)’ federal income tax liability for the year with and without *****% of the disallowed or reduced Section 45 credits. If the Sunoco
Realized Value and (as applicable) the Other Realized Value of any Section 45 Credits from Coke sales to Purchaser is thereafter increased as a result of the ability of Sunoco or (as applicable) Third Party Investor(s) to utilize the carryover
of any unused Section 45 Credits in later taxable years, or the ability of Sunoco or (as applicable) Third Party Investor(s) to utilize additional Section 45 Credits after final resolution of an IRS audit, then Seller will credit Purchaser
with an amount equal to (i) *****% of the Sunoco Realized Value and (as applicable) the Other Realized Value in respect of such increase, plus (ii) interest thereon at the overpayment rate of section 6621 of the Code or the successor
provision, computed from the date of filing of the consolidated income tax return of Sunoco or (as applicable) Third Party Investor(s) for the year in which the credit is utilized through the date on which such amount is credited by Seller to
Purchaser. Any such credit shall be applied to the invoice for such Month during which such Section 45 Credits are utilized. 

  
 8 

 (e) Schedules. Seller shall prepare schedule(s) showing the calculation of the
Section 45 Credits with respect to Coke sold to Purchaser during a year, not later than thirty (30) days before Seller files its federal income tax return for such year. 

(f) Recomputation. If Seller, and if applicable, any Third Party Investor(s), is claiming more Section 45 Credits than the
amount that Purchaser determines to be appropriate, then for purposes of this Section 3.2, Purchaser may elect to have the Sunoco Realized Value, and if applicable, the Other Realized Value, determined based on such lower amount of
Section 45 Credits (such lower amount referred to as the “Recomputed Section 45 Credit Amount”). If there is a later reduction in any Section 45 Credits claimed by Seller or any Third Party Investor, then Purchaser’s
liability under Section 3.3(d) shall be determined only with respect to such reduction below the Recomputed Section 45 Credit Amount. Seller has no obligation to Purchaser under this Section 3.2 to the extent the amount of
Section 45 Credits actually allowed exceed the Recomputed Section 45 Credit Amount. 
 3.3 Terms of
Payment/Invoicing. 
 (a) Provisional Shipment Invoices. On or promptly following the date of each Shipment during the
Term and any renewal thereof, Seller will submit to Purchaser in Writing a provisional invoice in respect of each such Shipment. The invoiced amount for such Shipment shall be the sum of *****. 

(b) Final Invoice. Revisions to the provisional invoice set forth in Section 3.3(a) will be made on a special Monthly final
invoice delivered to Purchaser to reflect actual adjustments to the Coal costs for Coke delivered to Purchaser during the preceding Month and, as applicable, any amounts payable in accordance with Section 3.3(c). That invoice will be submitted
to Purchaser within fifteen (15) days following the end of each applicable Month. The final invoice shall incorporate, as applicable, credits due to Purchaser or any additional amounts due from Purchaser. In the case of any credits, such
credits will be deducted from the next succeeding invoice(s) submitted to Purchaser. 
 (c) Invoice Adjustments.

 (i) Throughout the Term, amounts payable by Purchaser to Seller pursuant to Section 3.3(b) shall be
subject to the following Monthly adjustments (as applicable): 
 (A) Section 45 Credits as set forth in
Section 3.2 (including any reductions or increases thereto as set forth in Section 3.2(d)); 
 (B)
Amounts payable pursuant to Article VII; 
 (C) Adjustment(s) to the Coke Price as set forth in
Section 5.1(b)(ii) and Schedule 5.1; 
 (D) The Coke Price Discount in respect of any Nonconforming Coke
Tonnage accepted or commingled by Purchaser as set forth in Section 5.1(b)(iii); 

  
 9 

 (E) Direct costs that are creditable by Purchaser to Seller or, as
applicable, reimbursable by Purchaser to Seller pursuant to Section 6.3; 
 (F) The Production Turndown
Adjustment Fee; 
 (G) The Railroad Deficit Charge; 

(H) Any credit or payment, as the case may be, as determined in accordance with Section 3.1(c)(iv); and 

(I) Any credit or payment, as the case may be, in respect of any positive or negative difference between the Actual
O&M Component and the Forecasted O&M Component, as determined in accordance with Section 3.1(c)(vi). 
 (d)
Payment. Subject to Section 3.3(e), invoiced amounts as set forth herein shall be due and payable in immediately available funds by wire transfer to accounts identified by Seller or its designee (i) for the period from
September 1, 2009 through December 31, 2010, on or within twenty-three (23) days after each applicable invoice is delivered by Seller or its designee to Purchaser, and (ii) for the period commencing January 1, 2011 through
the end of the Term, as set forth in the last sentence of this Section 3.3(d) (clause (i) or (ii) of this paragraph, as applicable, the “Due Date”), and such payments shall not be subject to any right of set off or other
condition. Overdue amounts shall accrue interest at the Interest Rate from the applicable Due Date. Commencing January 1, 2011, the Due Date shall be set annually based on the payment terms set forth in Seller’s Coal purchase contracts
based upon the weighted average, in Tons, of the Coal to be delivered under such Coal purchase contracts, provided that the Due Date will be seven (7) fewer days than the due date for payment as set forth in such Coal purchase contracts.

 (e) Manifest Error Exception. If, based upon Manifest Error, Purchaser reasonably believes that any invoice
incorporates overcharged amounts in respect of amounts properly payable under this Agreement, then it shall notify Seller in Writing of such overcharge, including the amount and the basis of its belief, prior to the Due Date. Subject to the
foregoing, undisputed amounts shall be paid as set forth in Section 3.3(d), and the Parties shall attempt, in good faith, to agree upon the disputed amounts within fifteen (15) days after such Written notice is delivered by Purchaser. If
the Parties cannot resolve any such dispute within such fifteen (15) day period, then either Party may invoke the provisions of Section 9.2. Disputed amounts confirmed to be actually due by Purchaser shall be payable within five
(5) Business Days, and shall accrue interest at the Interest Rate from the applicable Due Date. If it is determined in accordance with Section 9.2 that Purchaser has overpaid Seller under this Agreement, then Seller shall promptly
reimburse Purchaser for the full amount of such overpayment, with interest in respect of such overpayment accruing at the Interest Rate from the date of such overpayment by Purchaser through the date of reimbursement by Seller. 

3.4 Production Turndown Adjustment Fee. In the event Purchaser requests a Production Turndown, in addition to the amounts payable
by Purchaser pursuant to Section

  
 10 

 
3.1(a)(iii), Purchaser shall pay Seller an amount equal to *****Charge (the “Production Turndown Adjustment Fee”). 

3.5 By-Products; Option to Purchase Breeze. Seller shall retain all By-Products for its own account, and Seller shall retain all
proceeds from the sale or other disposition of By-Products; provided, however, during each Calendar Year starting in 2010, Purchaser may, at its option, purchase *****% of the available Breeze for the market price therefore FOB the Coke Plants in
effect as of the date Purchaser exercises that option. In order to exercise that option, Purchaser must notify Seller, in Writing, of its exercise thereof at least ninety (90) days prior to the commencement of the applicable Calendar Year. In
the event that Purchaser exercises its option to purchase Breeze, Seller shall deliver Breeze to Purchaser at the Breeze Delivery Point and Seller and Purchaser shall reasonably cooperate in scheduling Breeze deliveries. 

3.6 Audit Rights. Purchaser or its designee shall have the right, during normal working hours of Seller, to review and inspect
such books and records of Seller and, as applicable, SunCoke as Purchaser deems reasonably necessary to verify any amounts payable by Purchaser under this Agreement. Purchaser shall provide Seller with at least two (2) Business Days Written
notice prior to its commencement of any such review and inspection. Such review and inspection shall take place at the place in which such books and records are customarily maintained. 

ARTICLE IV 

COAL BLENDS 
 4.1 Selection. Starting Contract Year 2011, the Coal Committee shall select, by majority vote, Coal Blends that conform to the Coal Blend Standards, and may make recommendations to Seller regarding
the acquisition of Coals in respect of this Agreement and related testing, blending, handling and delivery procedures. The Parties acknowledge that a portion of the Coals have been committed to be purchased through March 31, 2012 (the
“Committed Coal”) and, therefore, the Coal Committee will select the remaining Coals required for the Coal Blend taking into account these prior commitments. The quantity, price and specifications of the Committed Coal are set forth on
Schedule 4.1. Purchaser and Seller shall each be entitled to exercise one vote in respect of Coal Committee matters. Meetings of the Coal Committee shall be scheduled at intervals and at locations to be mutually agreed upon by the Parties. In the
event of a tie, Purchaser shall have the final and deciding vote; provided, however, Purchaser shall not utilize such final and deciding vote to select a Coal Blend that does not conform to the Coal Blend Standards. 

4.2 Sampling and Testing. A qualified independent laboratory, reasonably acceptable to both Parties, shall perform sampling,
proximate analysis (including moisture analysis), total sulfur analysis, oxidation analysis, plastic behavior analysis, and petrography of each Coal shipment. Such sampling, analysis and petrography shall be performed in accordance with ASTM
Standards. The results of such analysis and petrography shall be promptly provided to each member of the Coal Committee in Writing, and shall be used for determining compliance with the Coal Blend Standards in respect of each Coal Blend. 

  
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 4.3 Unsuitability or Insufficiency of Coal Blends. If any Coal Blend does not in
practice conform to the Coal Blend Standards or if sufficient quantities thereof become unavailable, then Seller shall promptly inform Purchaser in Writing of such (applicable) nonconformity or unavailability. If, pending selection of any new Coal
Blend, the use by Seller of the Coal Blend originally selected by for use at the Coke Plants adversely affects the Coke Plants or Seller’s ability to comply with its obligations under this Agreement then, pending the selection of a new Coal
Blend, Seller shall have the authority to utilize another Coal Blend that incorporates the Coals available at the Coke Plants or Coals that are otherwise reasonably available to Seller and which, in Seller’s reasonable judgment, meet or
reasonably approximate the Coal Blend Standards. If such a Coal Blend is not available to Seller, then the Coke Quality Standards and the Coke Supply and Purchase Obligation shall be, as appropriate, adjusted at the reasonable discretion of Seller;
provided, however, Seller shall provide Purchaser with Written notice of such circumstance, and the basis for any corresponding adjustment to, as applicable, the Coke Quality Standards and/or the Coke Supply and Purchase Obligation. 

4.4 Authority of Seller. Subject to Seller’s obligations in respect of Sections 4.1, 4.2 and 4.3, Seller shall retain the
responsibility and authority for daily operating matters involving the Coal Blends and compliance with the Coke Quality Standards, without any requirement to consult with or obtain the approval of Purchaser. 

ARTICLE V 

COKE SAMPLING, ANALYSIS AND QUALITY 
 5.1 Coke Moisture and Coke Quality. 
 (a) One (1) representative Coke
sample increment will be taken from the loading belt during the loading of each railcar. Each such increment will be a complete cross section cut as taken from the loading belt by the mechanical sampling system. All such samples shall be stored in a
closed container situated within a controlled, indoor environment prior to the testing and analysis thereof as required in Section 5.1(c). Upon twenty-four (24) hour notice to Seller, Purchaser shall be entitled to be present during the
sampling, preparation, analysis, and loading of Coke shipments. 
 Coke samples will be prepared on a daily basis by an
independent laboratory in accordance with ASTM Standards or, where no ASTM Standards apply, in accordance with generally accepted industry standards. Seller shall notify such independent laboratory to retain such samples for no less than thirty
(30) days from the date the samples are prepared. 
 Moisture, size, sulfur, ash, volatile matter and stability of Coke
will be tested and analyzed on a daily basis, and the results thereof shall be arithmetically averaged, on a Shipment basis, to determine conformity with the Coke Quality Standards applicable thereto. Such testing and analysis shall be performed in
accordance with ASTM Standards or other procedures approved by the Parties in Writing, and shall govern for the purposes of determining conformity with the Coke Quality Standards. All daily results (prior to any averaging thereof), and all
consolidated results utilized to determine compliance with the Coke Quality Standards, will be provided by Seller to Purchaser promptly in Writing prior to the delivery of the applicable 

  
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Shipment. Absent Manifest Error, those results shall be conclusive and binding on the Parties for the purposes of determining conformity with the Coke Quality Standards and any adjustments to the
Coke Price as set forth in Section 5.1(b) and Schedule 5.1. Purchaser shall have the right to conduct an audit of all results of such sampling, preparation, testing and analysis for the purpose of auditing Seller’s compliance with such
sampling, preparation, testing and analysis procedures. 
 (b) Coke Quality Standards. 

(i) Subject to the availability of Coals that conform to the Coal Blend Standards, Coke shall conform to the Coke Quality
Standards set forth in the Schedule 5.1 and Seller will implement commercially reasonable measures to achieve conformity with the “mean” Coke Quality Standards set forth in Schedule 5.1. 

(ii) Subject to the availability of Coals that conform to the Coal Blend Standards and Section 5.1(c), if Coke or
Third Party Supplied Coke Tonnage does not conform to the “threshold” limits provided for in the Coke Quality Standards set forth in Schedule 5.1, then the Coke Price in respect of such Coke Tonnage will be adjusted as set forth in
Schedule 5.1 as respects each such nonconformity. In addition, Seller will implement prompt corrective measures to correct any such nonconformity in respect of further Coke shipments and will promptly inform Purchaser in Writing of such corrective
measures. 
 (iii) If Coke is delivered to Purchaser and is subsequently determined to be Nonconforming Coke
based upon sampling, preparation, testing and analysis set forth in Section 5.1(a), and such Nonconforming Coke is consumed or commingled with any other coke acquired by Purchaser, then Seller shall be credited an amount equal to (i) the
product of the ***** per Ton in respect of such Nonconforming Coke Tonnage (the “Coke Price Discount”). Payment for such Nonconforming Coke shall be made in accordance with Section 3.3. However, where Nonconforming Coke is not
consumed or is not commingled with other coke acquired by Purchaser, Purchaser may either (y) reject such Nonconforming Coke by means of prompt Written notification thereof delivered by Purchaser to Seller (provided such Written notice is
delivered within three (3) Business Days following Seller’s notification to Purchaser of such Nonconforming Coke Tonnage), or (z) purchase such Nonconforming Coke Tonnage for the Coke Price less the Coke Price Discount. Upon rejection
of such Nonconforming Coke, title to such Nonconforming Coke shall revert to Seller and Seller shall accept all risk of loss, damage, or destruction therefore. 
 (iv) Seller may blend up to *****% Nonconforming Coke into other Coke Shipments such that (A) such Nonconforming Coke is added onto the coke conveyor only with new, unscreened coke production,
(B) such blended Coke does not exceed or, as applicable, is not less than the “reject” limits set forth in the Coke Quality Standards, (C) the ash content, volatile matter content, sulfur content, moisture content and size of
such Nonconforming Coke, are not less than *****% or do not exceed *****%, as applicable, of the “reject” limits set forth in the Coke Quality Standards and (D) the stability of such Nonconforming Coke is not less than the
“reject” limit set forth 

  
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in the Coke Quality Standards. Purchaser may waive the requirements set forth in clauses (C) and (D) of this Section 5.1(b)(iv) from time to time in its sole discretion.

 (v) As applicable, Seller shall be required to remove from Purchaser’s facilities any Nonconforming Coke
that is properly rejected by Purchaser. Seller will be responsible for all removal costs. Purchaser may require Seller to make up the corresponding shortfall pursuant to a reasonable shipment schedule to be specified by Purchaser. In addition,
Seller shall implement appropriate corrective measures prior to further Coke deliveries, and shall promptly notify Purchaser in Writing of such corrective measures. 
 (c) Changes to Coke Quality Standards. In conjunction with the annual review of the Coal Blends by the Coal Committee, or as reasonably required based on prevailing market conditions in respect of
Coal availability and price, Purchaser may request reasonable revisions to the Coke Quality Standards. Promptly after receipt of Purchaser’s request, Seller will enter into good faith discussions with Purchaser regarding such changes; provided,
however, Seller will not be required to make any adjustment that would have a detrimental effect on (i) Coal Blend Standards; (ii) Seller’s economic returns (including the operating or capital costs associated with the Coke Plants,
the “threshold” or “reject” Coke Quality Standards), and/or (iii) contracts between Seller and third parties including Coal purchase contracts. Any increase or decrease in costs and charges associated with any such change
shall be for the account of Purchaser. If the Parties are unable to reach agreement as respects any such proposed revisions, then such dispute shall be subject to the dispute resolution procedures set forth in Article IX. 

5.2 Title. Seller warrants that at the time of delivery of Coke or Third Party Supplied Coke to Purchaser it shall have good title
and full right and authority to transfer such Coke or Third Party Supplied Coke to Purchaser, and that the title conveyed shall be good and its transfer shall be rightful and that such Coke or Third Party Supplied Coke shall be delivered free from
any security interest or other lien or encumbrance. 
 5.3 Exclusivity. THE WARRANTIES EXPRESSLY SET FORTH IN THIS
ARTICLE V ARE EXCLUSIVE AND ARE IN LIEU OF ALL OTHER WARRANTIES, WHETHER WRITTEN OR ORAL, IMPLIED IN FACT OR IN LAW, AND WHETHER BASED ON STATUTE, CONTRACT, TORT, STRICT LIABILITY OR OTHERWISE. THE WARRANTY OF MERCHANTABILITY AND WARRANTY OF FITNESS
FOR A PARTICULAR PURPOSE ARE EXPRESSLY EXCLUDED AND DISCLAIMED. 
 ARTICLE VI 

OBLIGATIONS RELATED TO COKE SUPPLY AND DELIVERIES 
 6.1 [Intentionally omitted] 
 6.2 Coke Supply and Purchase Obligation.

 (a) Seller’s Supply Obligation. Subject to Section 6.6, beginning January 1, 2010 and for each
subsequent Contract Year Seller’s obligation (“Coke Supply Obligation”) in respect of the Coke Supply and Purchase Obligation is: 

  
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 (i) as respects the Base Case Coal Blend, not less than 90% of five hundred
fifty thousand (550,000) Tons of Coke or, as applicable, Third Party Supplied Coke; 
 (ii) as respects each
Coal Blend that contains a volatile matter content percentage which varies from the Base Case Coal Blend, not less than 90% of the Coke and Third Party Supplied Coke Tonnage provided for in the corresponding volatile matter content percentage set
forth in the attached and incorporated Schedule 6.2(a). 
 (b) Purchaser’s Purchasing Obligation. Subject to
Section 6.6 and Purchaser’s rejection rights in respect of Nonconforming Coke, Purchaser’s obligation in respect of the Coke Supply and Purchase Obligation is to purchase all Coke conforming to the Coke Quality Standards produced by
Seller delivered by Seller to the Coke Rail Delivery Point, not to exceed 105% of the Purchaser’s Targeted Coke Production. 
 (c) Ratability of Coke Production. In accordance with Prudent Operating and Maintenance Practices, but subject to Seller Force Majeure Event(s), Coke deliveries pursuant to Section 6.3 shall
be made on a commercially reasonable ratable basis at intervals such that (subject to Seller’s Coke Supply Obligation) for any consecutive four (4) Week period, on a rolling basis, Seller shall deliver to the Coke Rail Delivery Point not
less than *****% (*****%, in the case of the Contract Year commencing January 1, 2010) of the Targeted Coke Production (the “Minimum Ratability Standard”). 
 6.3 Coke Deliveries. 
 (a) Coke Delivery Points. All Coke deliveries
by Seller to Purchaser shall be made at the Coke Rail Delivery Point. In the case of such deliveries, Purchaser shall supply all railcars reasonably required to receive such Coke from Purchaser at the rail yard located at the Site. The Parties shall
reasonably cooperate in scheduling such Coke deliveries. 
 (b) Seller’s Rights When Purchaser Wrongfully Refuses
Delivery of Coke. If Purchaser refuses or, except as set forth in Section 8.2, below, is unable to accept any delivery of Coke Tonnage, and such refusal or failure is a breach of Purchaser’s obligations under this Agreement, then
without in any way limiting Seller’s remedies in respect this Agreement, (i) Purchaser shall pay Seller an amount equal to the product of the Coke Price in respect of such Coke Tonnage; (ii) Purchaser will reimburse Seller for
Seller’s actual handling costs associated therewith, including reasonable storage, incurred by Seller in connection with the stockpiling of such Coke Tonnage; and (iii) the moisture content of such Coke Tonnage, or any blending of such
Coke Tonnage with other Coke Tonnage performed at Purchaser’s request, shall not be required to conform to the moisture specification set forth in the Coke Quality Standards; provided, however, Seller shall not be obligated to store more than
fifteen thousand (15,000) Tons of Coke at the Coke Plants (“Stored Coke”) on behalf of the Purchaser at any point during the Term or any renewal thereof. Where Seller is entitled to such reimbursement from Purchaser, it shall promptly
notify Purchaser in Writing of the amount and basis for determining Seller’s direct costs, which Written notice will include reasonable support for such direct costs; provided, however, if either (i) Purchaser fails to pay for such
wrongfully refused Coke Tonnage, (ii) Coke stored at the Coke Plants exceeds the allocated storage amount of fifteen thousand (15,000)

  
 15 

 
Tons, or (iii) Purchaser does not remove from the Coke Plants the Stored Coke within six (6) months of the first Coke Tonnage entering the stockpile, then in any such case Seller may
resell the same upon Written notice to Purchaser of its intention to do so. Where such resale is made in good faith and in a commercially reasonable manner, Seller shall recover the positive difference (if any), less any amount paid to Seller by
Purchaser for such Coke Tonnage, between (i) the sum of (x) the product of the applicable (A) Coke Price multiplied by (B) such Coke Tonnage, plus (y) reasonable storage and re-screening costs and degradation and handling
losses in respect thereof, plus (z) any Incidental Damages in respect thereof, and (ii) the sum of the (y) resale proceeds in respect of such Coke Tonnage, plus (z) expenses saved (if any) as a consequence of Purchaser’s
breach. 
 (c) Title and Risk of Loss. Title and all risk of loss, damage or destruction in respect of (i) Coke
Tonnage will pass to and be assumed by Purchaser upon its delivery to the Coke Delivery Point, and (ii) any Breeze purchased will pass to and be assumed by Purchaser upon its loading into trucks supplied by Purchaser at the Breeze Delivery
Point; provided, however, title and risk of loss of Nonconforming Coke shall not pass to Purchaser if it is rejected by Purchaser. 
 6.4 Third Party Supplied Coke. If, at any point during any Contract Year, Seller has reason to believe that it will be unable to produce and deliver sufficient Coke to meet the minimum range set
forth in Section 6.2(a) of the Coke Supply and Purchase Obligation or the Minimum Ratability Standard, then Seller shall promptly provide Written notice of the same to Purchaser and Seller shall exercise commercially reasonable efforts to
obtain Third Party Supplied Coke in respect of the product of either such shortfall (measured in Tons) (each, as applicable, a “Coke Production Shortfall”). Furthermore, if Purchaser has a reasonable basis to conclude that Seller will be
unable to deliver sufficient Coke meet such minimum range of the Coke Supply and Purchase Obligation or the Minimum Ratability Standard, then Purchaser shall provide Written notice thereof to Seller (including the basis of such conclusion), and
following Seller’s receipt of such Written notice Seller shall, within a reasonable time under the circumstances, provide Purchaser with Written reasonable assurances that it will comply with the minimum range of the Coke Supply and Purchase
Obligation or, as applicable, the Minimum Ratability Standard (collectively, “Seller’s Reasonable Assurance Obligations”). If Seller does not comply with Seller’s Reasonable Assurance Obligations then, subject to
Section 6.5, it shall exercise commercially reasonable efforts to obtain Third Party Supplied Coke in respect of such Coke Production Shortfall. The quality of such Third Party Supplied Coke shall not exceed or, as applicable, be less than the
“reject” limits set forth in Schedule 5.1. The price Purchaser shall pay for such Third Party Supplied Coke shall be *****. Seller shall arrange for the shipment and delivery of Third Party Supplied Coke and shall exercise reasonable, good
faith efforts to arrange for such deliveries in accordance with Purchaser’s requested delivery schedule. Promptly following the delivery to the Middletown Plant or the Ashland Plant of any Third Party Supplied Coke shipment, Seller shall
deliver by facsimile transfer or electronic mail, or by such other method agreed upon by the Parties in Writing, an invoice for each such shipment to the Purchaser. Payment by Purchaser to Seller for such Third Party Supplied Coke in respect of the
Month during which it is supplied to Purchaser shall be made in accordance with Section 3.3(d). Notwithstanding anything to the contrary set forth in this Agreement, except as respects the occurrence of Seller Force Majeure Event(s), if Seller
reasonably determines that the Coke production capacity of the Coke Plants is or will be less than *****% of Targeted Coke 

  
 16 

 
Production, and Seller is unable to establish or restore such production capacity notwithstanding its good faith and commercially reasonable efforts to do so, then Seller’s obligation to
cover such Coke Production Shortfall (either in respect of Third Party Supplied Coke or Purchaser Obtained Coke) shall not exceed twelve (12) months in duration (the “Production Capacity Liability Limitation”). 

6.5 Purchaser Obtained Coke. In the event Seller (i) fails to comply with its obligations in respect of Section 6.4
(including Seller’s Reasonable Assurances Obligations and its obligation to obtain Third Party Supplied Coke sufficient to satisfy the Minimum Ratability Standard), or (ii) notifies Purchaser that it has reason to believe that it will be
unable to cover any applicable Coke Production Shortfall with Third Party Supplied Coke, then Purchaser may make commercially reasonable arrangements to acquire Purchaser Obtained Coke sufficient to cover such Coke Production Shortfall, and
Purchaser shall so notify Seller in Writing of such arrangements. Subject to the Production Capacity Liability Limitation, if the commercially reasonable price of Purchaser Obtained Coke Tonnage plus the actual, direct costs incurred by Purchaser to
deliver such Purchaser Obtained Coke Tonnage to the Middletown Plant or the Ashland Plant is greater than the sum of ***** then Seller shall reimburse Purchaser for the amount of such excess. In the event Purchaser secures Purchaser Obtained Coke,
then it shall use commercially reasonable efforts to limit its use of Purchaser Obtained Coke to the time period for which Purchaser reasonably believes, based on facts and circumstances disclosed in Writing to Purchaser by Seller, that a Coke
Production Shortfall will not be covered by Coke or Third Party Supplied Coke Tonnage. 
 6.6 Production Turndown.

 (a) To assist Purchaser in its preservation of working capital during periods when it experiences a significant reduction in
the demand for steel, AK will have the right, exercisable on or after January 1, 2011, to nominate a Production Turndown, provided that the Production Turndown Conditions are satisfied. 

(b) Purchaser must provide Seller at least forty-five (45) days (but not more than sixty (60) days) prior Written notice (the
“Production Turndown Notice”) of its desire to nominate a Production Turndown. The Production Turndown Notice shall specify the Production Turndown Period and the quantity of Coke to be taken during the Production Turndown Period.

 (c) Purchaser may increase the amount of Coke it desires to purchase during a Production Turndown Period (a “Production
Turndown Increase”) upon at least forty-five (45) days prior Written notice to Seller (the “Production Turndown Increase Notice”), provided that (i) the Coal Committee is able to procure Coal in sufficient quantity and
meeting the Coal Blend Standards to satisfy such increased Coke demand, and (ii) Purchaser and Seller are able to agree upon a revised Forecast of O&M Expenses for the remainder of the Production Turndown Period. 

(d) Within fifteen (15) days following its receipt of a Production Turndown Notice or a Production Turndown Increase Notice, Seller
shall prepare and provide to Purchaser a revised Forecast that sets forth in reasonable detail its good faith estimate of the O&M 

  
 17 

 
Expenses in respect of the Coke Plants for the Production Turndown Period. For the avoidance of doubt, such O&M Expenses include operating and maintenance costs in respect of the Cogeneration
Plant notwithstanding the circumstance that payments in respect of electrical energy produced by such Cogeneration Plant are made pursuant to the Related Energy Sales Agreement. Such Forecast shall be based on the criteria set forth in
Section 3.1(c)(iii) as adjusted to take into account the effect of the Production Turndown or Production Turndown Increase. Such Forecast shall further be adjusted to reflect the deferment of costs related to the Production Turndown or
Production Turndown Increase, to the extent that such costs can reasonably be deferred without adversely impacting the integrity, performance or safe operation of the Coke Plants, as determined in Seller’s sole discretion. Within fifteen
(15) days following Seller’s delivery of such Forecast to Purchaser, Seller and Purchaser shall confer in good faith for the purpose of reviewing and approving such Forecast. If, within fifteen (15) days thereafter, the Parties do not
agree upon such Forecast, then the Production Turndown or Production Turndown Increase, as applicable, shall not become effective. Neither Party shall have the right to submit a dispute regarding the Forecast to arbitration in accordance with
Section 9.2. If the Parties agree upon such Forecast, it shall be the Forecast used to determine the Forecasted O&M Component pursuant to Section 3.1(c). 
 ARTICLE VII 
 CHANGES IN GOVERNMENTAL REQUIREMENTS 

7.1 Government Mandated Additional Expenditures. 
 (a) Notification. If, following the date of this Agreement, Seller determines that a change in Governmental Requirements may materially burden its performance of its obligations under this
Agreement, then Seller shall so notify Purchaser in Writing. Seller’s performance shall be materially burdened where any such Governmental Requirement has a material adverse economic impact on Seller, including such impacts in respect of
(i) the Coke Quality Standards; (ii) the Coal Blend Standards, (iii) the Guaranteed Coke Yield Percentage; (iv) the cost of operating or maintaining the Coke Plants (including associated capital costs); (v) the production
capacity of the Coke Plants and Cogeneration Plant (including Coke and electrical energy); or (vi) Seller’s performance obligations to third parties related to Coal purchasing, transportation or handling contracts. Such notice shall
incorporate Seller’s good faith proposals for complying with those changes in Governmental Requirements, including the estimated cost thereof. 
 (b) Good Faith Negotiations. During the sixty (60) day period following delivery of any such notice, Seller and Purchaser shall negotiate in good faith to reach agreement as to
(i) whether any such change in Governmental Requirements should be challenged, including the scope and manner of such challenge; and (ii) the most economical and commercially prudent methods for complying with such change in Governmental
Requirements. 
 (c) Implementation. If such negotiations result in agreement as to whether to challenge the change in
Governmental Requirements or the methods for complying with the change in Governmental Requirements, then Seller shall promptly implement such challenge or methods as appropriate. Costs and charges associated with any such challenge (including

  
 18 

 
attorneys’ and consultants’ fees, and fines and penalties) shall be borne equally by Seller and Purchaser. If no such agreement is reached or if such challenge is unsuccessful, then
Seller will implement commercially reasonable methods for complying with the change in Governmental Requirements. In connection therewith, any associated Government Mandated Additional Capital Expenditures or Government Mandated Additional Expenses
shall be performed at the lowest practicable cost at the time each such cost is incurred. 
 7.2 Government Mandated
Additional Capital Expenditures. Government Mandated Additional Capital Expenditures shall have an assumed useful life equal to the greater of seven (7) Contract Years or the remainder of the Term following completion of the Government
Mandated Additional Capital Expenditures. As soon as the Government Mandated Additional Capital Expenditures have been completed, the monthly amortized cost thereof for the remaining months of the Term will be calculated based on the applicable
examples set forth in Schedule 7.2, and such allocated monthly amortized cost shall be payable by Purchaser to Seller in accordance with Section 3.3; provided, however, if Seller incurs a Government Mandated Additional Capital Expenditure and
if the remainder of the Term is less than seven (7) Contract Years, then Purchaser shall not be obligated to pay to Seller the unamortized balance of such Government Mandated Additional Capital Expenditure. 

ARTICLE VIII 
 FORCE MAJEURE EVENT(S) 
 8.1 Seller Force Majeure Event(s).

 (a) Seller Force Majeure Event(s) are: 

(i) acts of God, acts of the public enemy, insurrections, riots, strikes, lockouts, boycotts, floods, interruptions to
transportation, actions or inactions of a Governmental Authority, embargoes, acts of military authorities or other causes of a similar nature which wholly or partly prevent the production, transportation or delivery of Coke; or 

(ii) the unavailability of sufficient quantities of Coals utilized for any Coal Blend, or transportation services in
respect thereof; 
 provided, that no event shall constitute a Seller Force Majeure Event unless such event is beyond the reasonable control of
and without the fault or negligence of Seller and which by the exercise of due foresight Seller could not reasonably have been expected to avoid and which Seller is unable to overcome by the exercise of due diligence and reasonable care. 

(b) Seller will provide Purchaser with prompt Written notice of the nature and probable duration of each Seller Force Majeure Event and
of the extent of its effects on Seller’s performance hereunder, including its good faith estimate of the amount of Coke, if any, Seller will be able to deliver to Purchaser during such Seller Force Majeure Event. Seller will exercise
commercially reasonable efforts to deliver to Purchaser the amount of Coke Tonnage that Seller notifies Purchaser it will be able to deliver during each Seller Force Majeure Event. 

  
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 (c) Seller will use commercially reasonable efforts to limit the effects and duration of
each Seller Force Majeure Event, including (as applicable) restoring any damaged property necessary to reinstate the obligations of Seller under this Agreement, selecting alternate Coals for a Coal Blend that, in Seller’s reasonable judgment,
conforms to or reasonably approximates the Coal Blend Standards and, to the extent reasonably possible, that is calculated to produce Coke that conforms to or approximates the Coke Quality Standards, and supporting Purchaser in locating alternate
sources of substitute coke Tonnage for the duration of such Seller Force Majeure Event; provided, however, nothing in this Section shall be deemed to require Seller to resolve any strike or other labor dispute except on terms that are satisfactory
to Seller in its sole discretion. Purchaser’s obligation to purchase Coke shall be limited to that portion of the Coke Tonnage (excluding Nonconforming Coke Tonnage) that Seller is able to deliver to Purchaser, but in any event not in excess of
that which Seller indicated that it could supply to Purchaser in Seller’s notice of Seller Force Majeure Event provided pursuant to Section 8.1(b). Once Seller’s ability to deliver Coke is no longer suspended as a result of the
applicable Seller Force Majeure Event, the obligations of Seller and Purchaser under this Agreement will be reinstated with a prorated portion of the remaining of the Coke Supply and Purchase Obligation in respect of the Contract Year during which
Seller’s ability to perform hereunder is no longer suspended as a result of such Seller Force Majeure Event. 
 8.2
Purchaser Force Majeure Event(s). 
 (a) Purchaser Force Majeure Event(s) are acts of God, acts of the public enemy,
insurrections, riots, strikes, lockouts, boycotts, floods, interruptions to transportation, actions or inactions of a Governmental Authority, embargoes, acts of military authorities or other causes of a similar nature which in whole or in part
prevent Purchaser from being able to accept Coke from Seller; provided, that no event shall constitute a Purchaser Force Majeure Event unless such event is beyond the reasonable control of and without the fault or negligence of Purchaser and which
by the exercise of due foresight Purchaser could not reasonably have been expected to avoid and which Purchaser is unable to overcome by the exercise of due diligence and reasonable care. 

(b) Purchaser will provide Seller with prompt Written notice of the nature and probable duration of each Purchaser Force Majeure Event
and of the extent of its effects on Purchaser’s performance hereunder; provided, however, during such Purchaser Force Majeure Event, Purchaser shall be obligated to purchase from Seller all Coke Tonnage that meets its requirements in respect of
any blast furnaces that may continue to be operated by Purchaser and its Affiliates during the Purchaser Force Majeure Event (such Tonnage to be priced at the applicable Coke Price f.o.b. the Coke Plants). 

(c) Purchaser will use commercially reasonable efforts to limit the effects and duration of each Purchaser Force Majeure Event, including
(as applicable) restoring any damaged property necessary to fully reinstate the obligations of Purchaser under this Agreement; provided, however, nothing in this Section shall be deemed to require Purchaser to resolve any strike or other labor
dispute except on terms that are satisfactory to such Purchaser in its sole discretion. Once Purchaser’s ability to perform is no longer suspended as a result of the applicable Purchaser Force Majeure Event, the obligations of Purchaser and
Seller under this Agreement will be reinstated with a prorated portion of the remaining Coke Supply and Purchase 

  
 20 

 
Obligation in respect of the Contract Year during which Purchaser’s ability to perform hereunder is no longer suspended as a result of such Purchaser Force Majeure Event. 

ARTICLE IX 

DISPUTE RESOLUTION 
 9.1 Attempt at Resolution. Except for claims or causes of action in respect of Equitable Relief, and subject to Sections 3.1(c)(iv) and 7.1(b), should any claim, cause of action or dispute
(collectively, a “Dispute”) arise out of any of the provisions of this Agreement, the Parties shall first attempt in good faith to resolve such Dispute within thirty (30) days after either Party notifies the other that a Dispute
exists. No Party may commence an arbitration under Section 9.2 below until after the passage of such thirty (30) day period. 
 9.2 Interpretation and Dispute Resolution. 
 (a) Except as respects the
exercise or prosecution of claims or causes of action for Equitable Relief, for which the Parties shall have the right to proceed in any court of appropriate jurisdiction, any Dispute not resolved pursuant to (as applicable) Sections 3.1(c)(iv),
7.1(b) or 9.1 between the Parties arising out of or relating to this Agreement, the Related Energy Sales Agreement, the relationship of the Parties created by those agreements, or the breach, validity or enforceability of those agreements shall be
resolved by binding arbitration pursuant to the terms of the United States Arbitration Act, whether or not federal jurisdiction is obtained. Any and all arbitration(s) hereunder shall be conducted in Cincinnati, Ohio in accordance with the
Commercial Arbitration Rules (the “Rules”) of the American Arbitration Association. 
 (b) Any and all such
arbitration(s) shall be conducted by a panel of three (3) neutral arbitrators. The claimant shall appoint an arbitrator when it serves its demand for arbitration, the respondent shall submit an answering statement within thirty (30) days
of service of the demand for arbitration and shall at that time appoint an arbitrator, and the two Party-appointed arbitrators shall select a third arbitrator to chair the arbitration within fifteen (15) days after service of the answering
statement. If the Party-appointed arbitrators are unable to agree upon a third arbitrator, then the third arbitrator shall be appointed in accordance with the Rules. 
 (c) The arbitration award by the arbitration panel shall be final and binding, shall include interest at the Interest Rate and, unless the arbitrator panel expressly determines them not to be appropriate,
shall include costs, including reasonable attorneys’ fees, together with interest at the Interest Rate. Any arbitration award may be enforced by the state or federal courts sitting in Cincinnati, Ohio or any other court of competent
jurisdiction (including any jurisdiction in which the Party against whom the award is sought to be enforced holds or keeps assets). 
 (d) Upon the date of an arbitration award pursuant to this Section 9.2, if it is determined that an amount is due from one Party to the other Party, then such amount will be paid to the Party to whom
it is due within ten (10) days from the Written determination of the arbitration panel. Overdue payments shall bear interest at the Interest Rate. The failure by such 

  
 21 

 
Party to pay any amount due or otherwise take the required actions within the required time hereunder shall be a Purchaser Event of Default or Seller Event of Default, as applicable. 

9.3 Consolidation. If the Parties initiate multiple arbitration proceedings (i) relating to this Agreement and the Related
Energy Sales Agreement, or (ii) for which the subject matters are related by common questions of law or fact, then all such proceedings shall be consolidated into a single arbitral proceeding heard by the same arbitral panel. The arbitral panel
shall be authorized to establish procedures which it deems appropriate in its discretion to adjudicate consolidated Disputes, including bifurcating the issues or issuing interim awards. 

ARTICLE X 

REPRESENTATIONS AND WARRANTIES 
 10.1 Seller’s Representations and Warranties. Seller hereby represents and warrants, as of the Effective Date, to Purchaser as follows: 

(a) Due Organization. Seller is a corporation duly organized and validly existing and in good standing under the laws of the State
of Delaware and has all requisite corporate power and authority to own and operate its business and properties and to carry on its business as such business is now being conducted and is duly qualified to do business in Ohio. 

(b) Due Authorization; Enforceability. Seller has full corporate power and authority to execute and deliver this Agreement and to
perform its obligations hereunder. This Agreement is the valid and binding obligation of Seller, enforceable against Seller in accordance with its terms, except as the enforceability thereof may be limited by applicable bankruptcy laws affecting
creditors’ right generally, and by general equitable principles regardless of whether the issue of enforceability is considered in a proceeding in equity or at law. 
 (c) Non-Contravention. The execution, delivery and performance of this Agreement by Seller and the consummation of the transactions contemplated hereby do not contravene the certificate of
incorporation or by-laws of Seller and do not conflict with or result in a breach of or default under any indenture, mortgage, lease, agreement, instrument, judgment, decree, order or ruling to which Seller is a party or by which it or any of its
properties is bound or affected. 
 (d) Regulatory Approvals. All governmental or other authorizations, approvals, orders
or consents required in connection with the execution, delivery and performance of this Agreement by Seller have been obtained or can reasonably be expected to be obtained in due course. 

10.2 Purchaser’s Representations and Warranties. Purchaser hereby represents and warrants, as of the Effective Date, to
Seller as follows: 
 (a) Due Organization. Purchaser is a corporation duly organized and validly existing and in good
standing under the laws of the State of Delaware and has all requisite corporate power and authority to own and operate its business and properties and to carry on its business as such business is now being conducted and is duly qualified to do
business in Ohio. 

  
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 (b) Due Authorization; Enforceability. Purchaser has full corporate power and
authority to execute and deliver this Agreement and to perform its obligations hereunder. This Agreement is the valid and binding obligation of Purchaser, enforceable against Purchaser in accordance with its terms, except as the enforceability
thereof may be limited by applicable bankruptcy laws affecting creditors’ right generally, and by general equitable principles regardless of whether the issue of enforceability is considered in a proceeding in equity or at law. 

(c) Non-Contravention. The execution, delivery and performance of this Agreement by Purchaser and the consummation of the
transactions contemplated hereby do not contravene the certificate of incorporation or by-laws of Purchaser and do not conflict with or result in a breach of or default under any indenture, mortgage, lease, agreement, instrument, judgment, decree,
order or ruling to which Purchaser is a party or by which it or any of its properties is bound or affected. 
 (d) Regulatory
Approvals. All governmental or other authorizations, approvals, orders or consents required in connection with the execution, delivery and performance of this Agreement by Purchaser have been obtained or can reasonably be expected to be obtained
in due course. 
 10.3 Holding’s Representations and Warranties. Holding hereby represents and warrants, as of the
Effective Date, to Seller as follows: 
 (a) Due Organization. Holding is a corporation duly organized and validly
existing and in good standing under the laws of the State of Delaware and has all requisite corporate power and authority to own and operate its business and properties and to carry on its business as such business is now being conducted and is duly
qualified to do business in Ohio. 
 (b) Due Authorization; Enforceability. Holding has full corporate power and
authority to execute and deliver this Agreement and to perform its obligations hereunder. This Agreement is the valid and binding obligation of Holding, enforceable against Holding in accordance with its terms, except as the enforceability thereof
may be limited by applicable bankruptcy laws affecting creditors’ right generally, and by general equitable principles regardless of whether the issue of enforceability is considered in a proceeding in equity or at law. 

(c) Non-Contravention. The execution, delivery and performance of this Agreement by Holding and the consummation of the
transactions contemplated hereby do not contravene the certificate of incorporation or by-laws of Holding and do not conflict with or result in a breach of or default under any indenture, mortgage, lease, agreement, instrument, judgment, decree,
order or ruling to which Holding is a party or by which it or any of its properties is bound or affected. 
 (d) Regulatory
Approvals. All governmental or other authorizations, approvals, orders or consents required in connection with the execution, delivery and performance of this Agreement by Holding have been obtained or can reasonably be expected to be obtained
in due course. 

  
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 ARTICLE XI 
 DEFAULT AND REMEDIES 
 11.1 Purchaser’s Events of
Default. Purchaser shall be in default upon the occurrence of one or more of the following events (each a “Purchaser Default”): 
 (a) A Payment Default by Purchaser, which Payment Default remains uncured for ten (10) days following receipt of Written notice by Seller to Purchaser; 

(b) If Purchaser becomes Bankrupt; 
 (c) Except as provided in Section 11.1(a) hereof, if Purchaser otherwise fails to perform, observe or comply with any other material term, condition, obligation, covenant or provision of this
Agreement, and such breach has not been corrected, cured or remedied within sixty (60) days after Written notice of such breach has been delivered to Purchaser, provided, that if such cure cannot reasonably be completed within such sixty
(60) day period, then provided Purchaser promptly commences action(s) to effect a cure and continues to prosecute such cure with reasonable diligence thereafter, such cure period shall be extended for an additional sixty (60) days; or

 (d) If an AK Event of Default (as such term is defined in the Related Energy Sales Agreement) exists under the Related Energy
Sales Agreement. 
 11.2 Seller’s Events of Default. Seller shall be in default upon the occurrence of one or more
of the following events (each a “Seller Default”): 
 (a) If Seller becomes Bankrupt; or 

(b) If Seller fails to perform, observe or comply with any other material term, condition, obligation, covenant or provision of this
Agreement, and such breach has not been corrected, cured or remedied within sixty (60) days after Written notice of such breach has been delivered to Seller, provided, that if such cure cannot reasonably be completed within such sixty
(60) day period, then provided Seller promptly commences action(s) to effect a cure and continues to prosecute such cure with reasonable diligence thereafter, such cure period shall be extended for an additional sixty (60) days; or

 (c) If a Haverhill Event of Default (as such term is defined in the Related Energy Sales Agreement) exists under the Related
Energy Sales Agreement. 
 11.3 Pursuit of Remedies. Upon the occurrence of such an event of default, either Party may
pursue its corresponding legal remedies through the procedures set forth in Article IX. 
 11.4 Termination by Seller for
Breach by Purchaser. Upon the occurrence of (w) a Payment Default that is not cured by Purchaser with ten (10) days following receipt of Written notice by Seller to Purchaser, (x) Purchaser becoming Bankrupt, (y) an AK Event
of Default, or (z) such other Purchaser Default that is not cured prior to the expiration of the cure period set forth in Section 11.1(c), then, in addition to pursuing its remedies pursuant to Section 11.3, Seller

  
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may terminate this Agreement effective immediately upon the delivery of Written notice thereof to Purchaser. Except for claims or causes of action in respect of Equitable Relief, any Dispute in
respect of such termination right shall be subject to Article IX. Upon any such termination, Seller shall be relieved of its obligations under this Agreement including its obligations in respect of the Coke Purchase and Supply Obligation.
Furthermore, within thirty (30) days following the effective date of such termination Purchaser shall pay to Seller the Seller’s Damages, less Mitigation Proceeds as such Mitigation Proceeds are realized by Seller pursuant to Seller’s
duty to mitigate Seller’s Damages. 
 11.5 Termination by Purchaser for Breach by Seller. Upon the occurrence of
(i) Seller becoming Bankrupt, (ii) a Haverhill Event of Default, or (iii) such other Seller Default that is not cured prior to the expiration of the cure period set forth in Section 11.2(b), then, in addition to pursuing its
remedies pursuant to Section 11.3, Purchaser may terminate this Agreement effective immediately upon the delivery of Written notice thereof to Seller. Except for claims or causes of action in respect of Equitable Relief, any Dispute in respect
of such termination right shall be subject to Article IX. Upon such termination, Purchaser shall be relieved of its obligations under this Agreement including its obligations in respect of the Coke Purchase and Supply Obligation and its obligation
(if any) to pay Government Mandated Additional Expenditures. In addition, subject to the Production Capacity Liability Limitation, Seller shall be liable to Purchaser for the difference (if any) between the (y) price of Purchaser Obtained Coke,
and (z) the Coke Price that would have been payable by Purchaser to Seller for Coke Tonnage for the minimum range of the Coke Supply and Purchase Obligation (collectively, “Purchaser’s Damages”). Such Coke Price will be
determined based upon the assumed utilization of the Base Coal Blend, and a reasonable market value estimation of the Coal Cost Component in respect of such Base Coal Blend. 
 11.6 Termination by Purchaser Resulting From Shutdown of Iron Producing Portion of Ashland Plant. Purchaser may, upon two years prior Written notice to Seller and payment to Seller of a termination
fee in the amount of $*****, terminate this Agreement at any time on or after January 1, 2014, if Purchaser has permanently shut down operations of the iron producing portion of the Ashland Plant and has not acquired or begun construction of a
new blast furnace in the United States to replace, in whole or in part, the Ashland Plant iron production capacity; provided that if the termination occurs at any time following December 31, 2017, the termination fee shall not be payable.

 11.7 Termination by Seller Due to Coke Production Shortfall. Seller may, upon two years prior Written notice to
Purchaser and payment to Purchaser of a termination fee in the amount of $*****, terminate this Agreement at any time on or after January 1, 2014, if Seller is unable to meet Seller’s Coke Supply Obligation due to a significant event
occurring at the Coke Plants that limits the Coke production capability of the Coke Plants and that Seller is unable to overcome through the exercise of commercially reasonable efforts; provided that if the termination occurs at any time following
December 31, 2017, the termination fee shall not be payable. 
 11.8 Waiver of Right to Terminate. Purchaser may
waive its right to terminate this Agreement pursuant to Section 11.6 at any time prior to exercising such right, by providing Written notice thereof to Seller. Upon Seller’s receipt of such Written notice from Purchaser and

  
 25 

 
provided that Seller has not exercised its right to terminate this Agreement pursuant to Section 11.7, Seller’s right to terminate this Agreement pursuant to Section 11.7 shall be
deemed waived by Seller. 
 11.9 Automatic Termination. This Agreement shall terminate automatically, without any further
action by either Party, if Seller, Severstal Warren and Severstal Dearborn have not entered into the Severstal Termination Agreement on or before August 31, 2009. 
 11.10 No Release of Accrued Obligations. No termination of this Agreement shall release either Party from any obligations (including those arising out of a breach of this Agreement) that may have
accrued under this Agreement prior to such termination. 
 ARTICLE XII 

MISCELLANEOUS PROVISIONS 
 12.1 Seller’s Indemnification of Purchaser for Infringement. Seller shall indemnify, defend and hold Purchaser, its Affiliates and their successors and assigns, officers, directors, employees
and agents harmless from any and all actions, causes of action, claims, demands, costs, liabilities, expenses and damages (including reasonable attorneys’ fees and costs) incurred by any of them as a result of the design, construction or
operation of the Coke Plants infringing in whole or in part any copyright, patent, trade secret, or other proprietary right held by any third party. 
 12.2 Notices. All notices, requests and demands to or upon the Parties to be effective shall be in Writing. Except for invoices, such communications shall be addressed and directed to the Parties
listed below as follows, or to such other address or recipient as either Party may designate in Writing: 
  

							
	If to Seller to:	  	If to Purchaser to:
		
	 Haverhill North Coke Company
 c/o SunCoke Energy, Inc.
 Parkside Plaza
 11400 Parkside Drive
 Knoxville, TN 37934
	  	 AK Steel Corporation
 9227 Centre Pointe Drive
 West Chester, OH 45069

	  	Attention:	  	General Counsel
	  	Fax:	  	(513) 425-5607
	Attention:	  	Senior Vice President and	  	Confirm:	  	(513) 425-2690
		  	General Counsel	  		  	
	Fax:	  	(865) 288-5280	  		  	
	Confirm:	  	(865) 288-5213	  		  	

 12.3 Limitation of Liability; Exclusive Remedies. EXCEPT TO THE EXTENT SELLER’S
DAMAGES (AS DEFINED IN APPENDIX A) OR PURCHASER’S DAMAGES (AS SET FORTH IN SECTION 11.5 ABOVE) MAY BE CONSTRUED TO INCLUDE CONSEQUENTIAL DAMAGES, NEITHER SELLER NOR PURCHASER NOR ANY OF THEIR RESPECTIVE AFFILIATES OR ASSIGNEES SHALL BE LIABLE,
WHETHER 

  
 26 

 
BASED IN CONTRACT, TORT (INCLUDING NEGLIGENCE), WARRANTY, STRICT LIABILITY OR ANY OTHER LEGAL THEORY FOR ANY CONSEQUENTIAL, INCIDENTAL OR INDIRECT DAMAGES (INCLUDING DAMAGES IN RESPECT OF
EXISTING OR FUTURE LOST PROFITS), OR FOR SPECIAL, EXEMPLARY OR PUNITIVE DAMAGES OF ANY KIND IN RESPECT OF ANY BREACH(ES) OF THIS AGREEMENT OR OTHERWISE. EXCEPT WHERE THIS AGREEMENT EXPRESSLY PROVIDES FOR EQUITABLE RELIEF, THE REMEDIES OF THE PARTIES
SET FORTH IN THIS AGREEMENT ARE EXCLUSIVE. 
 12.4 Rules of Interpretation. Defined terms in this Agreement shall include
in the singular number the plural and in the plural number the singular. Unless otherwise expressly specified, any agreement, contract or document defined or referred to herein shall mean such agreement, contract or document as the same may
hereafter be amended, supplemented or otherwise modified from time to time. The words “include”, “includes”, and “including” shall not be limiting and shall be deemed in all instances to be followed by the phrase
“without limitation”. References to “days” shall mean calendar days unless otherwise indicated. The Schedules to this Agreement shall form part of this Agreement for all purposes. References herein to Articles, Sections or
Schedules shall mean such Articles, Sections or Schedules of or to this Agreement. 
 12.5 Governing Law. This Agreement
shall be governed by, and construed in accordance with, the laws of the State of Ohio without regard to its conflicts of law provisions, and the rights and remedies of the Parties hereunder will be determined in accordance with such laws.

 12.6 Severability. If any provision of this Agreement is found by a court of competent jurisdiction to be prohibited
or unenforceable, it shall, as to such jurisdiction, be ineffective only to the extent of such prohibition or unenforceability, and such prohibition or unenforceability shall not invalidate the balance of such provision to the extent it is not
prohibited or unenforceable, nor invalidate the other provisions of this Agreement. 
 12.7 Confidentiality. Each Party
and its Affiliates shall keep all information provided by one Party to the other, including this Agreement and the Related Energy Sales Agreement, and the terms thereof (including the Coke Price and charges payable pursuant to the Related Energy
Sales Agreement) strictly confidential and will not disclose any such information to any third party; provided, however, (i) Seller may disclose this Agreement to prospective investors in, and Lenders to, Seller subject to Purchaser’s
approval of terms and conditions in respect of the confidentiality of such disclosure, which approval shall not be unreasonably withheld, conditioned or delayed by Purchaser; (ii) if either Party becomes legally required (by oral questions,
interrogatories, request for information or documents, orders issued by any Governmental Authority, or any other process) to disclose such information, such Party will give prior notice to the other Party of the requirement and the terms thereof and
shall cooperate with the other Party to minimize the disclosure of the information, seek a protective order or other appropriate remedy, and if such protective order or other remedy is not obtained, then such Party will furnish only that portion of
such information that it is legally required to furnish; and (iii) either Party may disclose this Agreement and the terms hereof to the extent that such disclosure is required under the Securities Act of 1933, the Securities Exchange Act of
1934 or the rules 

  
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and regulations promulgated thereunder, or by the rules of any applicable securities exchange. Notwithstanding the foregoing, this Section 12.7 shall not apply to such information that was
(x) previously known by the Party receiving such information without obligation of confidentiality, (y) in the public domain (either prior to or after the furnishing of such documents or information hereunder) through no fault of such
receiving Party, or (z) later acquired by such receiving Party, without obligation of confidentiality, from another source not having an obligation of confidentiality to the disclosing Party. 

12.8 Entire Agreement. This Agreement (including Appendix A, the Schedules attached hereto and Attachment A) and the Related
Energy Sales Agreement, as a single integrated transaction, constitute the entire agreement among the Parties concerning the subject matter thereof and supersede and cancel any prior agreements, representations, warranties, or communications,
whether oral or written, among the Parties regarding the transactions contemplated by, and the subject matter of, this Agreement. The provisions of this Agreement shall not be amended, reformed, altered, or modified in any way by any practice or
course of dealing prior to or during the term of this Agreement, and can only be amended, reformed, altered, or modified by a Writing signed by an authorized representative of each of the Parties. The Parties specifically acknowledge that they have
not been induced to enter into this Agreement by any representation, stipulation, warranty, agreement, or understanding of any kind other than as expressed in this Agreement and the Related Energy Sales Agreement. 

12.9 Survival. The obligations of the Parties pursuant to Article IX, Sections 7.2, 11.3, 11.4, 11.5, 11.10, 12.1, 12.2, 12.3,
12.5 12.6, 12.7, 12.8, 12.9, 12.12, 12.18 and 12.19 shall survive the termination of this Agreement. 
 12.10 Captions.
The captions and headings in this Agreement are for convenience of reference purposes only and have no legal force or effect. Such captions and headings shall not be considered a part of this Agreement for purposes of interpreting, construing or
applying this Agreement and will not define, limit, extend, explain or describe the scope or extent of this Agreement or any of its terms and conditions. 
 12.11 Construction of Agreement. This Agreement shall be construed as a contract of purchase and sale of goods. 
 12.12 Independent Contractor. Neither Party to this Agreement is the partner, legal representative or agent of the other, nor shall either Party have the right or authority to assume, create or
incur any liability or any obligation of any kind implied, against or in the name or on behalf of the other Party. 
 12.13
Waivers and Remedies. The failure of either Party to insist in any one or more instances upon strict performance of any of the provisions of this Agreement or to take advantage of any of its rights hereunder shall not be construed as a waiver
of any such provisions or the relinquishment of any such rights, but the same shall continue and remain in full force and effect. Except as otherwise expressly limited in this Agreement, all remedies under this Agreement shall be cumulative and in
addition to every other remedy provided for herein or by law. 

  
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 12.14 Assignability. No Party shall Assign any of its rights or obligations under
this Agreement, including to any Affiliate of a Party, without also assigning the Related Energy Sales Agreement, and obtaining the prior Written consent of the other Party. Such consent shall not be unreasonably withheld, conditioned or delayed.
Notwithstanding the foregoing, Purchaser and Holding hereby consent to the granting of a security interest in and a collateral assignment by Seller of this Agreement and its rights herein to any Person that provides debt, loans, credit or credit
support, acts as counterparty on any interest rate hedging arrangements, or provides other financing, or any successor, assign or designee thereof, to Seller in connection with any financing related to the Coke Plants and/or the Cogeneration Plant
(collectively, the “Lenders”). In furtherance of the foregoing, Purchaser and Holding acknowledge that the Lenders may under certain circumstances assume the interests and rights of Seller under this Agreement; provided, that if following
such assumption the Lenders seek to sell the Coke Plants and the Cogeneration Plant and assign this Agreement to the purchaser of the Coke Plants and the Cogeneration Plant, they will not sell the Coke Plants and the Cogeneration Plant to a Person
that (i) has a greater than 50% ownership interest in one or more Steel Making Facilities in North America, or (ii) is a direct supplier of iron ore to Purchaser pursuant to a contract with a term of greater than one year pursuant to which
the quantity of iron ore sold exceeds 25% of Purchaser’s annual iron ore requirements (an “Iron Ore Supplier”). Seller shall be relieved of and released from its obligations under this Agreement from and after such assumption.

 12.15 Further Assurances. From time to time after the Effective Date and without further consideration, the Parties
shall take such other action, and execute such other documents and instruments, as either Party may reasonably request to more effectively carry out the transactions contemplated by this Agreement. 

12.16 Cooperation with Financing Efforts. Purchaser and Holding shall reasonably cooperate with Seller’s efforts in obtaining
and maintaining financing on a non-recourse (or other) basis for the Coke Plants and/or the Cogeneration Plant. Without limiting the generality of the foregoing, Purchaser and Holding shall: (i) execute such documents (including consent
agreements and legal opinions) as Seller or the Lenders will reasonably request in view of obtaining and maintaining such financing whereby Purchaser and/or Holding (a) certify to the Lenders that this Agreement is in full force and effect and
has not been modified or amended and that there are no defaults under this Agreement by Purchaser or Holding or, to Purchaser’s or Holding’s knowledge, by Seller (except, in each case, as specifically stated in such certification),
(b) represent and warrant to the Lenders that this Agreement is enforceable against Purchaser and Holding, (c) consent to the collateral assignment of this Agreement to the Lenders as security for the debt relating to the Coke Plants
and/or the Cogeneration Plant, (d) agree to make payments to accounts as notified by Seller from time to time, (e) agree to give the Lenders notice of and a reasonable opportunity to cure any defaults of Seller under this Agreement, and
(f) clarify provisions of this Agreement as reasonably requested by the Lenders or Seller without increasing Purchaser’s or Holding’s liability hereunder; (ii) accompany Seller on a reasonable number of presentations to potential
Lenders; and (iii) provide information (including financial information and, as requested by the Lenders from time to time, the names of all Iron Ore Suppliers) about Purchaser and Holding as the Lenders may reasonably request. Seller shall
reimburse each of Purchaser and Holding for its reasonable and documented out-of-pocket costs and expenses incurred in connection with actions taken pursuant to this Section 12.16, including reasonable

  
 29 

 
fees and expenses of outside counsel retained to provide a legal opinion as contemplated by clause (i) above. 
 12.17 Binding Effect. This Agreement shall be binding upon and inure to the benefit of the Parties and their respective successors and permitted assigns. 

12.18 No Third Party Beneficiaries. Except as otherwise expressly set forth herein, the terms and conditions of this Agreement are
solely for the benefit of the Parties and no other Person shall have any rights hereunder. 
 12.19 Mutuality of
Drafting. The Parties hereby stipulate and agree that each of them fully participated and was adequately represented by counsel in the negotiation and preparation of this Agreement and the Parties further stipulate and agree that in the event of
an ambiguity or other necessity for the interpretation to be made of the context of this Agreement, this Agreement shall not be construed in favor of or against Seller or Purchaser as a consequence of one Party having had a greater role in the
preparation of this Agreement, but shall be construed as if the language were mutually drafted by both parties will full assistance of counsel. 
 12.20 Counterparts Facsimile Signatures. This Agreement may be executed in one or more counterparts and by the different Parties hereto on separate counterparts, each of which when so executed and
delivered shall be an original, but all of which shall together constitute one and same instrument. Any executed counterpart may be delivered by facsimile, and when so delivered, shall be legally enforceable in accordance with its terms. Any such
facsimile shall be follows by delivery, as promptly as practicable, of a non-facsimile original. 
 12.21 No Setoff. Each
payment by Purchaser or by any other Person on its behalf to Seller pursuant to this Agreement shall be made without offset, abatement, withholding or reduction of any kind. 
 12.22 Audits. Seller shall, upon reasonable prior notice and no more than once per year, allow a firm of independent certified public accountants retained by, and at the sole cost and expense of,
Purchaser to review aspects of Seller’s operations at the Coke Plants solely to enable such firm to advise Purchaser regarding the proper accounting treatment of this Agreement. 

  
 30 

 IN WITNESS WHEREOF, the Parties have caused this Agreement to be executed by their
respective duly authorized officers as of the date first above written. 
  

									
	HAVERHILL NORTH COKE COMPANY	 		 	AK STEEL CORPORATION
					
	By:	 	 /s/ Michael J. Thomson
	 		 	By:	 	 /s/ John F. Kaloski

					
	Name:	 	 Michael J. Thomson
	 		 	Name:	 	 John F. Kaloski

					
	Title	 	 President
	 		 	Title:	 	 Sr. VP - Operations

 AK Steel Holding Corporation executes this Agreement solely for the purpose of affirming its obligation pursuant to Sections 1.5, 1.6, 10.3, 12.14 and 12.16. 

 

			
	AK STEEL HOLDING CORPORATION
		
	By:	 	 /s/ John F. Kaloski

		
	Name:	 	 John F. Kaloski

		
	Title:	 	 Sr. VP - Operations

  
 31 

 APPENDIX A 
 Definitions 
 The definitions of certain capitalized terms are as follows: 

“Actual O&M Component” has the meaning set forth in Section 3.1(c)(vi). 

“Adjusted Fixed Price Component” has the meaning set forth in Section 3.1(b)(ii). 

“Affiliate” means any Enterprise that directly or indirectly controls, or is controlled by, or is under common control
with any Party. For purposes of this definition, “control” of an Enterprise means the power, directly or indirectly, either (a) to vote 50% or more of the securities having ordinary voting power for the election of directors of such
Party or Enterprise; or (b) to direct or cause the direction of the management and policies of such Party or Enterprise, whether by ownership interest, contract or otherwise. 

“Agreement” means the Coke Purchase Agreement between the Parties dated August 31, 2009 together with all Written
amendments, revisions and modifications hereof made pursuant to Section 12.8. 
 “Ashland Plant” means
Purchaser’s steel plant works located in Ashland, Kentucky. 
 “Assign” means assigning or delegating any
of the rights or obligations of the Parties to any enterprise, or either Party selling, leasing, transferring or voluntarily disposing of all or a substantial portion of its assets. 

“ASTM Standards” means procedures and standards adopted or approved by the American Society for Testing and Materials.

 “Bankrupt” means, with respect to any Party or its permitted assignee: 

 

	 	(a)	applying for or consenting to the appointment of, or the taking of possession by, a receiver, custodian, trustee or liquidator of itself or of all or a substantial part
of its property; 

  

	 	(b)	making a general assignment for the benefit of its creditors; 

  

	 	(c)	commencing a voluntary case under any bankruptcy code, as now or hereafter in effect (“Bankruptcy Code”); 

 

	 	(d)	filing a petition seeking to take advantage of any other law relating to bankruptcy, insolvency, reorganization, winding-up, or composition or readjustment of debts;

  

	 	(e)	taking any action for the purpose of effecting any of the foregoing; or 

  

	 	(f)	being a defendant, respondent, alleged debtor, or otherwise having commenced against it, in any court of competent jurisdiction, a proceeding or case under the
Bankruptcy Code or a case seeking: 

 (i) its liquidation, reorganization, dissolution or winding-up, or the
composition or readjustment of its debts; 

  
 32 

	 	(ii)	the appointment of a trustee, receiver, custodian, liquidator or the like, of such Party or Enterprise or of all or any substantial part of its property; or

  

	 	(iii)	similar relief under any law relating to bankruptcy, insolvency, reorganization, winding-up, or composition or adjustment of debts; and such proceeding or case
shall continue undismissed, or an order, judgment or decree approving or ordering any of the foregoing shall be entered and continue unstayed and in effect, for a period of sixty (60) or more days; or an order for relief against such Party or
Enterprise shall be entered in a case under the Bankruptcy Code. 

 “Bankruptcy Code” has the
meaning set forth in the definition of “Bankrupt”. 
 “Base Case Coal Blend” means a Coal Blend
having a volatile matter content of *****% and a moisture content of *****%. 
 “Breeze” means *****.

 “Breeze Delivery Point” means the delivery point in respect of Breeze reasonably designated by Seller
adjacent to the Breeze storage area located within the Coke Plants. 
 “Business Day” means any day except
Saturday, Sunday and any day which shall be in Cincinnati, Ohio a legal holiday or a day on which banking institutions are authorized or required by law or other government action to close. 

“By-Products” means all output of the Coke Plants excluding Coke, but specifically including waste heat, steam and
electrical energy. 
 “Coal(s)” means metallurgical coking coals that are reliable and readily available for
use in any actual or proposed Coal Blend. 
 “Coal Blend” means each coal blend selected by the Coal Committee
and, as applicable, any coal blend selected by Seller pursuant to Section 4.3. 
 “Coal Blend Standards”
means the standards for selecting the Coal Blends. Those standards require that each Coal Blend consists of (i) not more than*****Coals; (ii) Coals having a minimum FSI of *****; (iii) actually produce Coke that will reasonably
conform to the “mean” Coke Quality Standards set forth in Schedule 5.1 or any successor standards; (iv) have a volatile matter component of not less than *****% and not more than *****%; (v) allow for safe, reliable and efficient
operation of the Coke Plants; and (vi) allow for the operation of the Coke Plants in accordance with Governmental Requirements. 
 “Coal Committee” means the committee comprised of one (1) representative of Purchaser and one (1) representative of Seller that selects, subject to Section 4.1, each Coal
Blend for use in the production of Coke as particularly described in Section 4.1. 
 “Coal Costs” has the
meaning set forth in Section 3.1(d)(i). 
 “Coal Cost Component” has the meaning set forth in
Section 3.1(d)(ii). 

  
 33 

 “Coal Handling Losses” means losses associated with the storage and
handling of the Coals, and are accounted for in the manner set forth in Section 3.1(d)(iv). 
 “Cogeneration
Plant” has the meaning set forth in Section 1.2(b). 
 “Coke” means blast furnace coke that is
produced at the Coke Plants (approximately *****with up to *****% minus *****material). Coke does not include any Breeze or any By-Products. 
 “Coke Plants” means collectively to the Phase I Plant and Phase II Plant as defined in Section 1.2. 
 “Coke Price” has the meaning set forth in Section 3.1(a). 

“Coke Price Discount” has the meaning set forth in Section 5.1(b)(iii). 

“Coke Production Shortfall” has the meaning set forth in Section 6.4. 

“Coke Purchase Shortfall” means the sum of the Monthly Coke Purchase Shortfall amounts during the relevant Production
Turndown Period. 
 “Coke Quality Standards” means the guaranteed quality parameters for Coke set forth in
Schedule 5.1, and as such Schedule is amended in accordance with Section 5.1(c). 
 “Coke Rail Delivery
Point” means the rail car(s) arranged by Purchaser to receive Coke deliveries at the rail yard located at the Site. 

“Coke Supply Obligation” has the meaning set forth in Section 6.2(a). 

“Coke Supply and Purchase Obligation” has the meaning set forth in Section 6.2. 

“Committed Coal” has the meaning set forth in Section 4.1. 

“Contract Year” means each respective calendar year transpiring during the Term commencing January 1, 2010.

 “Dispute” has the meaning set forth in Section 9.1. 

“Due Date” has the meaning set forth in Section 3.3(d). 

“Effective Date” has the meaning set forth in the introductory paragraph to this Agreement. 

“Equitable Relief” means, in the context of the exercise or prosecution of claims or causes of actions, any claim or
cause of action for immediate relief (such as a Seller’s remedies to stop goods in transit, withhold or refuse delivery, reclaim or replevy goods and resell goods), or in respect of equitable relief (such as temporary and permanent injunctive
relief, and specific performance). 

  
 34 

 “Fixed Price Component” has the meaning set forth in
Section 3.1(b)(i). 
 “Forecast” has the meaning set forth in Section 3.1(c)(ii). 

“Forecasted O&M Component” has the meaning set forth in Section 3.1(c)(v). 

“Government Mandated Additional Capital Expenditures” means capital expenditures affecting the Coke Plants for which an
equally reliable and safe non-capital expenditure alternative that by itself is not reasonably available and economically feasible and which are required due to changes in Governmental Requirements made after the date of this Agreement (or with
respect to compliance standards not reasonably ascertainable as of the date of this Agreement). 
 “Government Mandated
Additional Expenses” means the actual operating or maintenance expenses affecting the Coke Plants, as well as all economic impacts other than those that require additional capital, which are required due to changes in Governmental
Requirements made after the date of this Agreement (or with respect to compliance standards not reasonably ascertainable as of the date of this Agreement) including consideration paid by Seller for emission offsets or credits in respect of
greenhouse gases (including carbon dioxide). 
 “Government Mandated Additional Expenditures” means,
collectively, Government Mandated Additional Capital Expenditures and Government Mandated Additional Expenses. 

“Governmental Authority(ies)” means any federal, state or local government, and political subdivision(s) thereof, and
any entity(ies) exercising executive, legislative, judicial, regulatory or administrative functions having or pertaining to government. 
 “Governmental Requirements” means any applicable law, regulation and regulatory order (and any official interpretations thereof) of any Governmental Authority in respect of the operation
of the Coke Plants, including any such law, regulation or regulatory order relating to environmental compliance by Seller with respect to the operation of the Coke Plants. 
 “Guaranteed Coke Yield Percentage” has the meaning set forth in Section 3.1(d)(vi). 
 “Guidelines” has the meaning set forth in Section 3.1(c)(iii). 
 “Holding” has the meaning set forth in Section 1.5. 

“Incidental Damages” means incidental damages allowed under Ohio Revised Code Section 1302.84, or as allowed
pursuant to any amendment or re-codification thereof. Such damages specifically include commercially reasonable storage and re-screening costs, and degradation and handling losses, incurred by Seller in connection with stockpiling of Coke or Third
Party Coke. 
 “Indenture” means the “Indenture” dated as of June 11, 2002 by and among
Purchaser, Holding, Douglass Dynamics, L.L.C. and Fifth Third Bank, including (as applicable) any amendment(s) thereto or extension(s) thereof. 

  
 35 

 “Index Formula” means the percentage increase or, as applicable, decrease
in the Employment Cost Index – Union Manufacturing (Series Id: CIU2013000000510I (B)) published by the United States Department of Labor, Bureau of Labor Statistics, or any inflation index that succeeds or replaces it for the twelve
(12) most recent months of available data preceding the commencement of the applicable Contract Year. 
 “Interest
Rate” means an interest rate equal to *****% above the rate announced by JPMorgan Chase Bank, N.A. as its prime rate at the date of accrual of the late payment (provided that the prime rate may not be the lowest rate of interest charged by
JPMorgan Chase Bank, N.A. to its customers) or at the highest interest rate permitted by applicable law, whichever interest rate is lower. 
 “Iron Ore Supplier” has the meaning set forth in Section 12.14. 
 “Lenders” has the meaning set forth in Section 12.14. 

“Lost Energy Charge” has the meaning set forth on Schedule A-1. 

“Manifest Error” means an arithmetical error. 
 “Middletown Plant” means Purchaser’s steel plant works located in Middletown, Ohio. 
 “Minimum Ratability Standard” has the meaning set forth in Section 6.2(c). 
 “Mitigation Proceeds” means: 
 In respect of Coke sales, any
(positive) difference between: 
 (i) The sum of the sales proceeds arising from third party Coke sales plus any costs and
expenses saved by Seller in connection therewith, minus 
 (ii) The sum of (i) the product of the (y) Coke Price
multiplied by (z) the Coke Tonnage that is sold to such third parties, plus (ii) any other Incidental Damages incurred by Seller. 
 “Moisture Adjusted Coal Blend Tonnage” has the meaning set forth in Section 3.1(d)(iii). 
 “Month(s)” or “Monthly”, as applicable, refers to each calendar Month, beginning at 12:00 midnight on the last day of the preceding Month and ending at 12:00 midnight on
the last day of such calendar Month, transpiring in whole or in part during the Term. 
 “Monthly Coke Purchase
Shortfall” means, for any Month during any Production Turndown Period, the difference between (a) forty-five thousand eight hundred thirty-three (45,833) Tons of Coke, and (b) the actual amount of Coke purchased by Purchaser
during such Month. 
 “Nonconforming Coke” means Coke that exceeds or, as applicable, is less than the
“reject” limits set forth in Schedule 5.1. 

  
 36 

 “O&M Expenses” means *****; provided, however, O&M Expenses
include in any event Government Mandated Additional Expenses except where (subject to Section 7.1(c)), such Government Mandated Additional Expenses are inclusive of fines or penalties in respect of violations of Governmental Requirements
(including fines or penalties in respect of violations of Governmental Requirements pertaining to the environment, and employee health and safety). 
 “Other Realized Value” has the meaning set forth in Section 3.2(c). 
 “Parties” means Purchaser and the Seller. 

“Party” means either Purchaser or Seller, depending upon the context in which the term is used. 

“Payment Default” means any failure by Purchaser to pay Seller in accordance with Article III (including the payments in
respect of the Coke Price and the adjustments thereto), Section 9.2(c), or Article VII. 
 “Person”
means any individual, corporation, limited liability company, association, partnership, joint venture, trust or other enterprise or unincorporated organization or any Governmental Authority. 

“Per Ton Fuel Surcharge” means the product of (i) the fuel surcharge set forth on Attachment A payable by
Seller under transportation contract C-9381 between Norfolk Southern Railway Company and Seller for Coal delivered to the Coke Plants, and (ii) ***** which represents an estimated *****% coal to coke yield. 

“Per Ton Railroad Rate Index Charge” means the product of (i) any increase or decrease to the per Ton
transportation rates in the transportation contract C-9381 between Norfolk Southern Railway Company and Seller for Coal delivered to the Coke Plants, and (ii) *****, which represents an estimated *****% coal to coke yield. The “Base
Rates”, as such term is defined in the transportation contract C-9381, are adjusted biannually by *****% of the cumulative percentage change in the AAR’s “All-Inclusive AAR Index Less Fuel Adjustment Factor” as approved by the
Surface Transportation Board, but cannot be adjusted to below the “Base Rates”. 
 “Phase I Plant”
has the meaning set forth in Section 1.2(a). 
 “Phase II Plant” has the meaning set forth in
Section 1.2(a). 
 “Presumed O&M Expenses” has the meaning set forth in Section 3.1(c)(iv).

 “Production Capacity Liability Limitation” has the meaning set forth in Section 6.4. 

“Production Turndown” means any reduction in the purchase of Coke in an amount of up to ***** Tons of Coke per month,
which may not exceed twelve (12) consecutive Months and which Seller shall make commercially reasonable efforts to achieve if requested by Purchaser, provided that any reduction in an amount greater than ***** Tons of Coke per month shall be

  
 37 

 
subject to operational and technical limitations at the Coke Plants, in each case as determined in Seller’s sole discretion. 

“Production Turndown Adjustment Fee” has the meaning set forth in Section 3.4. 

“Production Turndown Conditions” means each of the following conditions that must be satisfied for Seller to nominate a
Production Turndown: (i) Purchaser has experienced a sustained decrease in demand for steel that results in a significant decrease in blast furnace production at its steel plants, including temporary idling of one or more of the blast furnaces
at its steel plants, (ii) Purchaser has not procured other coke or, in the case of its blast furnace #3 at the Middletown Plant, injected pulverized coal, as a replacement or substitute for purchased Coke Tonnage under this Agreement,
(iii) Purchaser has turned down production at all coke facilities owned or leased by Purchaser or its Affiliates by at least *****%, (iv) Purchaser has exercised commercially reasonable efforts to suspended all purchases of coke from other
Persons under existing contracts, and (v) prior Coal supply obligations committed or agreed to by the Coal Committee will not adversely affect Seller in connection with the Production Turndown. 

“Production Turndown Increase” has the meaning set forth in Section 6.6(c). 

“Production Turndown Increase Notice” has the meaning set forth in Section 6.6(c). 

“Production Turndown Notice” has the meaning set forth in Section 6.6(b). 

“Production Turndown Period” means any period during which a Production Turndown is in effect. 

“Prudent Operating and Maintenance Practices” means the practices, methods, standards and procedures generally accepted
and followed by a prudent, diligent, skilled and experienced manager and operator acting in accordance with standards generally utilized in the United States, with respect to the management, operation and maintenance of manufacturing facilities
having similar characteristics to the Coke Plants which, at the particular time in question, in the exercise of reasonable judgment and in light of facts then known or that reasonably should have been known at the time a decision was made, would be
expected to accomplish the desired results and goals, including such goals as efficiency, reliability, economy and profitability, in a manner consistent with Governmental Requirements. 

“Purchaser” has the meaning set forth in the introductory paragraph to this Agreement. 

“Purchaser’s Damages” has the meaning set forth in Section 11.5. 

“Purchaser Default” has the meaning set forth in Section 11.1. 

“Purchaser Force Majeure Event(s)” has the meaning set forth in Section 8.2. 

“Purchaser Obtained Coke” means coke obtained by Purchaser, which is (i) nominally sized between *****,
(ii) in respect of any shortfall in Seller’s delivery of Coke relative to the product of the minimum range of the Coke Supply and Purchase Obligation and (iii) not otherwise covered by Seller through its supply of Third Party Supplied
Coke to Purchaser. 

  
 38 

 “Railroad Deficit Charge” means, during any Production Turndown
Period, any “Deficit Charge”, as such term is defined in the transportation contract C-9381 between Norfolk Southern Railway Company and Seller for Coal delivered to the Coke Plants, or any similar charge payable pursuant to any substitute
or replacement railroad transportation contract. 
 “Recomputed Section 45 Credit Amount” has the
meaning set forth in Section 3.2(f). 
 “Related Energy Sales Agreement” has the meaning set forth in the
introductory paragraph to this Agreement. 
 “Rules” has the meaning set forth in Section 9.2(a).

 “Section 45 Credits” has the meaning set forth in Section 3.2(a). 

“Section(s)” are the sections and subsections of the Articles contained in this Agreement. 

“Seller” has the meaning set forth in the introductory paragraph to this Agreement. 

“Seller Default” has the meaning set forth in Section 11.2. 

“Seller Force Majeure Event(s)” has the meaning set forth in Section 8.1. 

“Seller’s Damages” include, subject to Seller’s Mitigation Proceeds, (i) any amounts due by Purchaser to
Seller under this Agreement as of the effective date of termination; (ii) the present value, discounted at the rate of *****%, of (w) the product of (A) the Fixed Price Component multiplied by (B) the Targeted Coke Production in
respect of the Base Coal Blend for each complete or partial Contract Year remaining in the Term (provided, for such Contract Years having less than 365 days, the foregoing amount is to be multiplied by a fraction, the numerator of which is
the number of days in such Contract Year, and the denominator of which is 365); and (iii) the balance of all of the remaining Government Mandated Additional Capital Expenditures that would be payable by Purchaser as of the date of termination
but for such termination. 
 “Seller’s Reasonable Assurance Obligations” has the meaning set forth in
Section 6.4. 
 “Severstal Dearborn” has the meaning set forth in Section 2.1(b). 

“Severstal Termination Agreement” has the meaning set forth in Section 2.1(b). 

“Severstal Warren” has the meaning set forth in Section 2.1(b). 

“Shipment” means the delivery of (a) a full trainload of Coke to Purchaser at the Coke Rail Delivery Point,
or (b) any Third Party Supplied Coke to Purchaser at the Middletown Plant or the Ashland Plant. 

“Site” has the meaning set forth in Section 1.2(a). 

“Steel Making Facilities” means steel making facilities that utilize a blast furnace and basic oxygen furnace or
electric arc furnace for the production of iron and raw steel. 

  
 39 

 “Stored Coke” has the meaning set forth in Section 6.3(b). 

“SunCoke” means SunCoke Energy, Inc., a Delaware corporation. 

“Sunoco” means Sunoco, Inc., a Delaware corporation, an Affiliate of Seller. 

“Sunoco Realized Value” has the meaning set forth in Section 3.2(b). 

“Targeted Coke Production” means the Coke Tonnage in respect of the applicable volatile matter content percentage set
forth in the attached and incorporated Schedule 6.2(a) for the applicable Contract Year. 
 “Taxes” means any
tax imposed by any Governmental Authority in the form of sales, use, excise, value added, environmental, gross receipts or franchise tax (except for property taxes related to the Coke Plants or taxes based on or measured by the net income or net
worth of Seller), state and local product tax, state and local inspection fees, any taxes or assessments in respect of greenhouse gases (including carbon dioxide), or similar taxes, assessments, or fees. If the purchase of any Coke by Purchaser is
exempt from sales or use tax, then Purchaser shall furnish Seller with a valid exemption certificate in form and content reasonably acceptable to Seller. In the event any exemption is subsequently denied by any Governmental Authority, and as a
result Seller is assessed for such sales or use tax, then Purchaser shall reimburse Seller for such Taxes including all interest and penalties associated therewith. 
 “Term” has the meaning set forth in Section 2.1(a). 

“Third Party Investor(s)” has the meaning set forth in Section 3.2(c). 

“Third Party Supplied Coke” means coke, which is nominally sized between ***** and which is obtained from sources other
than Seller, including Seller’s Affiliates. 
 “Ton” or “Tonnage” means a
“short” ton of two thousand (2,000) pounds of Coal or Coke, as the case may be. 
 “Week” or
“Weekly” refers to a calendar week beginning at 12:00 midnight on the Sunday and ending at 11:59 p.m. on the Saturday of the same week, and transpiring in whole or in part during the Term. 

“Weighted Average” means an average that takes into account the proportional relevance of, as applicable, the moisture
content or cost of each Coal comprising each particular Coal Blend, rather than treating each such component equally. 

“Written” or “in Writing” means any form of written communication or a communication by means of
e-mail, telex, telecopier device, telegraph or cable, overnight courier, or registered or certified mail (postage prepaid and return receipt requested), and shall be deemed to have been duly given or made upon receipt, or in the case of any
electronic transmission, when confirmation of receipt is obtained. 

  
 40 

 Schedule 1.4 
 Guarantee of Seller’s Obligations 
 GUARANTY 

THIS GUARANTY, dated as of [Insert] (“Guaranty”), is made by SunCoke Energy, Inc., a Delaware corporation and Sun
Coal & Coke Company, a Delaware corporation (collectively, “Guarantors”), for the benefit of AK Steel Corporation, a Delaware corporation (“AK”). 
 Recitals 
 A. This Guaranty is made pursuant to the Coke Purchase
Agreement entered into on the date hereof by and between AK and Haverhill North Coke Company, a Delaware corporation (“Seller”) (“Coke Purchase Agreement”). 

B. This Guaranty is made for the benefit of AK to guarantee the performance by Seller of its obligations under the Coke Purchase
Agreement (the obligations referred to herein are collectively the “Guaranteed Obligations”). 
 C. It is a condition
to AK entering into the Coke Purchase Agreement that Guarantors shall have executed and delivered this Guaranty. 
 D.
Guarantors will obtain benefits from Seller entering into the Coke Purchase Agreement and, accordingly, desire to execute this Guaranty in order to satisfy the conditions described in the preceding paragraph and to induce AK to enter into the Coke
Purchase Agreement. 
 Agreements 
 NOW, THEREFORE, in consideration of the foregoing and other benefits accruing to Guarantors, the receipt and sufficiency of which are hereby acknowledged, Guarantors hereby make the following
representations and warranties to AK and hereby covenant to AK as follows: 
 1. Guarantors guarantee to AK the full performance
of all Guaranteed Obligations. Guarantors understand, agree and confirm that AK may enforce this Guaranty against Guarantors without first proceeding against Seller. 
 2. The liability of Guarantors hereunder shall not be affected or impaired by (a) any other continuing or other guaranty, undertaking or maximum liability of Guarantors or of any other person as to
the obligations and performance of Seller; (b) any reduction of any such other guaranty or undertaking; (c) any dissolution, termination or increase, decrease or change in personnel by Seller; (d) any payment made to AK in respect of
the Guaranteed Obligations which AK repays to Seller pursuant to court order in any bankruptcy, reorganization, arrangement, moratorium or other debtor relief proceeding, and Guarantors waive any right to the deferral or modification of their
obligations hereunder by reason of any such proceeding; (e) any assignment by Seller of any of its rights under the Coke Purchase Agreement; or (f) the sale, transfer or other disposition by Guarantors of any or all of the share capital of
Seller; provided, notwithstanding any other provision in this Guaranty, no action shall commence against Guarantors unless and until written notice of default is first made upon Seller and Guarantors pursuant to the requirements set forth in
the Coke Purchase Agreement and Seller or Guarantors fail to cure such default within the applicable cure period set forth in the Coke Purchase Agreement. 
 3. Other than the notice required to be given to Guarantors as specified in Section 2 of this Guaranty, Guarantors hereby waive notice of acceptance of this Guaranty and notice of any liability to
which it may apply, and waive promptness, diligence, presentment, demand of 

  
 41 

 
payment, protest, notice of dishonor or nonpayment of any such liabilities, suit or taking of other action by AK against Guarantors. 

4. AK may at any time and from time to time without the consent of or notice to Guarantors, without incurring responsibility to
Guarantors, without impairing or releasing the obligations of Guarantors hereunder upon or without any terms or conditions and in whole or in part: 
 (a) exercise or refrain from exercising any rights against Seller or otherwise act or refrain from acting; 
 (b) settle or compromise any of the Guaranteed Obligations or any liability (including any of those hereunder) incurred directly or indirectly in respect thereof or hereof; and/or 

(c) consent to or waive any breach of, or any act, omission or default under, the Coke Purchase Agreement, or otherwise
amend, modify or supplement the Coke Purchase Agreement. 
 5. No invalidity, irregularity or unenforceability of all or any
part of the Guaranteed Obligations shall affect, impair or be a defense to this Guaranty, and this Guaranty shall be primary, absolute and unconditional notwithstanding the occurrence of any event or the existence of any other circumstances which
might constitute a legal or equitable discharge of a surety or guarantor except payment in full of the Guaranteed Obligations. 

6. This Guaranty is a continuing one and all liabilities to which it applies or may apply under the terms hereof shall be conclusively
presumed to have been created in reliance hereon. No failure or delay on the part of AK in exercising any right, power or privilege hereunder shall operate as a waiver thereof; nor shall any single or partial exercise of any right, power or
privilege hereunder preclude any other or further exercise thereof or the exercise of any other right, power or privilege. The rights and remedies herein expressly specified are cumulative and not exclusive of any rights or remedies which AK would
otherwise have. Other than the notice required to be given to Guarantors as specified in Section 2 of this Guaranty, no notice to or demand on Guarantors in any case shall entitle Guarantors to any other further notice or demand in similar or
other circumstances or constitute a waiver of the rights of AK to any other or further action in any circumstances without notice or demand. It is not necessary for AK to inquire into the capacity or powers of Seller or the officers, directors, or
agents acting or purporting to act on its behalf, and any indebtedness made or created in reliance upon the professed exercise of such powers shall be guaranteed hereunder. 
 7. Guarantors waive, to the maximum extent permitted by applicable law, any right to require AK to (a) proceed against Seller or (as applicable) any other person; or (b) pursue any other of its
remedies. 
 8. Guarantors assume all responsibility for being and keeping themselves informed of Seller’s financial
condition and assets, and of all other circumstances bearing upon the risk of nonpayment or nonperformance of the Guaranteed Obligations and the nature, scope and extent of the risks which Guarantors assume and incur hereunder, and agree that AK
shall have no duty to advise Guarantors of information known to them regarding such circumstances or risks. 
 9. If and to the
extent that Guarantors make any payment or performance to AK pursuant to or in respect of this Guaranty, then any claim which Guarantors may have against Seller by reason thereof shall be subject and subordinate to the prior payment and performance
in full of the Guaranteed Obligations to AK. 
 10. Guarantors hereby agree to pay all reasonable out-of-pocket costs and
expenses of AK (including, without limitation, the reasonable fees and disbursements of counsel employed by AK) in connection with the enforcement of this Guaranty and any amendment, waiver or consent relating hereto against Guarantors. 

  
 42 

 11. This Guaranty shall be binding upon Guarantors and their successors and assigns, and
shall inure to the benefit of AK and its successors and assigns. 
 12. Neither this Guaranty nor any provision hereof may be
changed, waived, discharged or terminated except with the written consent of AK and Guarantors. 
 13. Guarantors acknowledge
that an executed (or conformed) copy of the Coke Purchase Agreement has been made available to their principal executive officers and such officers are familiar with the contents thereof. 

14. All notices requests, demands or other communications pursuant hereto shall be made in writing (including telegraphic, telex,
facsimile transmission or cable communication) and mailed, telegraphed, telexed, transmitted, cabled or delivered to the following addresses (or to such other addresses as designated by Guarantors or AK): 

 

			
	If to Guarantors:	  	SunCoke Energy, Inc.
		  	Parkside Plaza
		  	11400 Parkside Drive
		  	Knoxville, TN, 37934
		  	Attention: Vice President and General Counsel
		  	Fax: (865) 288-5280
		  	Confirm: (865) 258-5213
		
	If to AK:	  	AK Steel Corporation
		  	9227 Centre Pointe Drive
		  	West Chester, OH 45069
		  	Attention:
		  	General Counsel
		  	Fax: (513) 425 -5607
		  	Confirm: (513) 425-2690

 All such notices and
communication shall be mailed, telegraphed, telexed, facsimile transmitted, or cabled or sent by overnight courier, and shall be effective when received. 
 15. This Guaranty and the rights and obligations of AK and of Guarantors shall be governed by and construed in accordance with the law of the State of Ohio. 

16. This Guaranty may be executed in one or more counterparts and by the different parties hereto on separate counterparts, each of which
when so executed and delivered shall be an original, but all of which shall together constitute one and the same instrument. 

  
 43 

 IN WITNESS WHEREOF, Guarantors have caused this Guaranty to be executed and delivered as of
the date first above written. 
  

			
	SunCoke Energy, Inc.
		
	By:	 	  

		
	Name:	 	  

		
	Title:	 	  

	
	Sun Coal & Coke Company
		
	By:	 	  

		
	Name:	 	  

		
	Title:	 	  

  
 44 

 Schedule 1.5 
 Guarantee of Purchaser’s Obligations 
 GUARANTY 

THIS GUARANTY, dated as of [insert] (“Guaranty”), is made by AK Steel Holding Corporation, a Delaware corporation
(“Guarantor”), for the benefit of Haverhill North Coke Company, a Delaware corporation (“Seller”). 

Recitals 
 A. This Guaranty is made pursuant to the Coke Purchase Agreement dated as of August 31, 2009 by and between Seller and AK Steel Corporation, a Delaware corporation (“AKS”) (“Coke
Purchase Agreement”). 
 B. This Guaranty is made for the benefit of Seller to guarantee the performance by AKS of its
obligations under the Coke Purchase Agreement (the obligations referred to herein are collectively the “Guaranteed Obligations”). 
 C. It is a condition of Seller entering into the Coke Purchase Agreement that Guarantor shall have executed and delivered this Guaranty upon the occurrence of the events set forth in Section 1.5 or
as otherwise set forth in Section 1.6 of the Coke Purchase Agreement. 
 D. Guarantor will obtain benefits from AKS
entering into the Coke Purchase Agreement and, accordingly, desires to execute this Guaranty in order to satisfy the conditions described in the preceding paragraph and to induce Seller to enter into the Coke Purchase Agreement. 

Agreements 
 NOW, THEREFORE, in consideration of the foregoing and other benefits accruing to Guarantor, the receipt and sufficiency of which are hereby acknowledged, Guarantor hereby makes the following
representations and warranties to Seller and hereby covenants to Seller as follows: 
 1. Guarantor guarantees to Seller the
full performance of all Guaranteed Obligations. Guarantor understands, agrees and confirms that Seller may enforce this Guaranty against Guarantors without first proceeding against AKS. 

2. The liability of Guarantor hereunder shall not be affected or impaired by (a) any other continuing or other guaranty, undertaking
or maximum liability of Guarantor or of any other person as to the obligations and performance of AKS; (b) any reduction of any such other guaranty or undertaking; (c) any dissolution, termination or increase, decrease or change in
personnel by AKS; (d) any payment made to Seller in respect of the Guaranteed Obligations which Seller repays to AKS pursuant to court order in any bankruptcy, reorganization, arrangement, moratorium or other debtor relief proceeding, and
Guarantor waives any right to the deferral or modification of their obligations hereunder by reason of any such proceeding; (e) any assignment by AKS of any of its rights under the Coke Purchase Agreement; or (f) the sale, transfer or
other disposition by Guarantor of any or all of the share capital of AKS; provided, notwithstanding any other provision in this Guaranty, no action shall commence against Guarantor unless and until written notice of default is first made upon
AKS and Guarantor pursuant to the requirements set forth in the Coke Purchase Agreement and AKS or Guarantor fails to cure such default within the applicable cure period set forth in the Coke Purchase Agreement. 

  
 45 

 3. Other than the notice required to be given to Guarantor as specified in Section 2 of
this Guaranty, Guarantor hereby waives notice of acceptance of this Guaranty and notice of any liability to which it may apply, and waives promptness, diligence, presentment, demand of payment, protest, notice of dishonor or nonpayment of any such
liabilities, suit or taking of other action by Seller against Guarantor. 
 4. Seller may at any time and from time to time
without the consent of or notice to Guarantor, without incurring responsibility to Guarantor, without impairing or releasing the obligations of Guarantor hereunder upon or without any terms or conditions and in whole or in part: 

(a) exercise or refrain from exercising any rights against AKS or otherwise act or refrain from acting; 

(b) settle or compromise any of the Guaranteed Obligations or any liability (including any of those hereunder) incurred
directly or indirectly in respect thereof or hereof; and/or 
 (c) consent to or waive any breach of, or any act,
omission or default under, the Coke Purchase Agreement, or otherwise amend, modify or supplement the Coke Purchase Agreement. 

5. No invalidity, irregularity or unenforceability of all or any part of the Guaranteed Obligations shall affect, impair or be a defense
to this Guaranty, and this Guaranty shall be primary, absolute and unconditional notwithstanding the occurrence of any event or the existence of any other circumstances which might constitute a legal or equitable discharge of a surety or guarantor
except payment in full of the Guaranteed Obligations. 
 6. This Guaranty is a continuing one and all liabilities to which it
applies or may apply under the terms hereof shall be conclusively presumed to have been created in reliance hereon. No failure or delay on the part of Seller in exercising any right, power or privilege hereunder shall operate as a waiver thereof;
nor shall any single or partial exercise of any right, power or privilege hereunder preclude any other or further exercise thereof or the exercise of any other right, power or privilege. The rights and remedies herein expressly specified are
cumulative and not exclusive of any rights or remedies which Seller would otherwise have. Other than the notice required to be given to Guarantor as specified in Section 2 of this Guaranty, no notice to or demand on Guarantor in any case shall
entitle Guarantor to any other further notice or demand in similar or other circumstances or constitute a waiver of the rights of Seller to any other or further action in any circumstances without notice or demand. It is not necessary for Seller to
inquire into the capacity or powers of AKS or the officers, directors, or agents acting or purporting to act on its behalf, and any indebtedness made or created in reliance upon the professed exercise of such powers shall be guaranteed hereunder.

 7. Guarantor waives, to the maximum extent permitted by applicable law, any right to require Seller to (a) proceed
against AKS or (as applicable) any other person; or (b) pursue any other of its remedies. 
 8. Guarantor assumes all
responsibility for being and keeping itself informed of AKS’ financial condition and assets, and of all other circumstances bearing upon the risk of nonpayment or nonperformance of the Guaranteed Obligations and the nature, scope and extent of
the risks which Guarantor assumes and incurs hereunder, and agrees that Seller shall have no duty to advise Guarantor of information known to it regarding such circumstances or risks. 

9. If and to the extent that Guarantor makes any payment or performance to Seller pursuant to or in respect of this Guaranty, then any
claim which Guarantor may have against AKS by reason thereof shall be subject and subordinate to the prior payment and performance in full of the Guaranteed Obligations to Seller. 

  
 46 

 10. Guarantor hereby agrees to pay all reasonable out-of-pocket costs and expenses of Seller
(including, without limitation, the reasonable fees and disbursements of counsel employed by Seller) in connection with the enforcement of this Guaranty and any amendment, waiver or consent relating hereto against Guarantor. 

11. This Guaranty shall be binding upon Guarantor and its successors and assigns, and shall inure to the benefit of Seller and its
successors and assigns. 
 12. Neither this Guaranty nor any provision hereof may be changed, waived, discharged or terminated
except with the written consent of Seller and Guarantor. 
 13. Guarantor acknowledges that an executed (or conformed) copy of
the Coke Purchase Agreement has been made available to its principal executive officers and such officers are familiar with the contents thereof. 
 14. All notices requests, demands or other communications pursuant hereto shall be made in writing (including telegraphic, telex, facsimile transmission or cable communication) and mailed, telegraphed,
telexed, transmitted, cabled or delivered to the following addresses (or to such other addresses as designated by Guarantor or Seller): 
  

			
	If to Guarantor:	  	AK Steel Holding Corporation
		  	9227 Centre Pointe Drive
		  	West Chester, OH 45069
		  	Attention:
		  	General Counsel
		  	Fax: (513) 425-5607
		  	Confirm: (513) 425-2690
		
	If to Seller:	  	Haverhill North Coke Company
		  	c/o SunCoke Energy, Inc.
		  	Parkside Plaza
		  	11400 Parkside Drive
		  	Knoxville, TN, 37934
		  	Attention: Vice President and General Counsel
		  	FAX: (865) 288-5280
		  	Confirm: (865) 258-5213

 All such notices and
communication shall be mailed, telegraphed, telexed, facsimile transmitted, or cabled or sent by overnight courier, and shall be effective when received. 
 15. This Guaranty and the rights and obligations of Seller and of Guarantor shall be governed by and construed in accordance with the law of the State of Ohio. 

16. This Guaranty may be executed in one or more counterparts and by the different parties hereto on separate counterparts, each of which
when so executed and delivered shall be an original, but all of which shall together constitute one and the same instrument. 

  
 47 

 IN WITNESS WHEREOF, Guarantor has caused this Guaranty to be executed and delivered as of the date first
above written. 
  

			
	AK Steel Holding Corporation
		
	By:	 	  

		
	Name:	 	  

		
	Title:	 	  

  
 48 

 Schedule 4.1 
 Committed Coal Specifications 
 Provisional Committed Coal *** 

 

																					
	 Supplier
	  	 Seams
	 	  	 Coal Grade
	 	  	 Provisional
2011
Tons**
	 	  	 Provisional
2011 $/Ton
FOB Mine
	 	  	  	 
	 Clintwood Elkhorn Mining Company
	  	 	*****	  	  	 	*****	  	  	 	*****	  	  	$	*****	  	  			
	 Clintwood Elkhorn Mining Company
	  	 	*****	  	  	 	*****	  	  	 	*****	  	  	$	*****	  	  	 	*	  
	 United Coal Company
	  	 	*****	  	  	 	*****	  	  	 	*****	  	  	$	*****	  	  			
	 United Coal Company
	  	 	*****	  	  	 	*****	  	  	 	*****	  	  	$	*****	  	  			
		  				  	 	Total/Average	  	  	 	*****	  	  	$	*****	  	  			

 Notes: 

	*	Price is the higher of (i) $***** or (ii) the prevailing market price for similar coals to be established in the 4th quarter of 2010 through submission of
Seller and Seller-affiliate coal transactions for 2011. 

	**	Provisional committed Tons may be higher or lower depending on Tons taken in 2010 by Seller. 

	***	The provisional committed coal terms set forth above are currently under renegotiation. 

  
 49 

 Schedule 5.1 
 Coke Quality Standards 
  

																					
	 Categories
	  	Target	 	  	Threshold
Frequency	 	  	Threshold for
Quality
Adjustment	 	  	Coke Price 
Adjustment
(Pro-Rata)	 	  	Reject
Standard	 
	 Ash (Dry basis)
	  	 	*****	  	  	 	Shipment	  	  	 	*****	  	  	$	*****	  	  	 	*****	  
	 Volatile Matter

(Dry Basis)
	  	 	*****	  	  	 	Shipment	  	  	 	*****	  	  	$	*****	  	  	 	*****	  
	 Total Sulfur

(Dry Basis)
	  	 	*****	  	  	 	Shipment	  	  	 	*****	  	  	$	*****	  	  	 	*****	  
	 Stability
	  	 	*****	  	  	 	Shipment	  	  	 	*****	  	  	$	*****	  	  	 	*****	  
	 Total Moisture
	  	 	*****	  	  	 	Shipment	  	  	 	*****	  	  	$	*****	  	  	 	*****	  
	 Size: Minus 3/4”
	  	 	*****	  	  	 	Shipment	  	  	 	*****	  	  	$	*****	  	  	 	*****	  

 These quality standards
and price adjustments are for use on Coke with a minimum bottom coke size of *****”. 
 Ash and Total Sulfur Shipment
Standards – Each of the Shipment Coke quality standards (Target, Quality Threshold and Reject Standard) for ash and sulfur will be established based upon the test results of the daily sample(s) of the corresponding coal charged to the
ovens. The Shipment Coke ash standard will be derived from the ash content of the coal charged, adjusted for the expected coke yield formula (*****% minus the volatile matter content of the coal charged minus the expected *****% burn loss).*****.

 Stability Penalty and Credit – For each one (1) point variation in respect of Coke Tonnage that contains less
than ***** Stability, the Coke Price will be decreased by $*****for such Coke Tonnage. For each one (1) point variation in respect of Coke Tonnage that contains more than *****Stability, the Coke Price will be increased by $*****for such Coke
Tonnage. For Coke that measures between*****stability and *****stability, there shall be no adjustment to the Coke Price. 

Moisture Penalty and Premium – For each *****% variation in moisture over *****%, the Coke Price will be decreased $*****per
ton for such coke tonnage. For each *****% variation in moisture under *****%, the Coke Price will be increased $*****per ton. For coke that measures moisture between *****% and *****%, there shall be no adjustments to the Coke Price. 

Pro-Rata Adjustments: 
 For ash, volatile matter, sulfur and moisture, any percentage over the threshold amount shall be pro-rated for each *****point increment exceedance. *****. 

  
 50 

 Testing Frequency: 

Moisture, sulfur, ash, volatile matter and stability will be tested and analyzed on a ***** basis. *****. 

  
 51 

 Schedule 6.2(a) 

Coke Supply and Purchase Obligation 
  

																																					
	 Coal Blend Volatile Matter
	  	 	*****	  	  	 	*****	  	  	 	*****	  	  	 	*****	  	  	 	*****	  	  	 	*****	  	  	 	*****	  	  	 	*****	  	  	 	*****	  
	 Purchaser Targeted Coke Production (Tons)1
	  	 	*****	  	  	 	*****	  	  	 	*****	  	  	 	*****	  	  	 	*****	  	  	 	*****	  	  	 	*****	  	  	 	*****	  	  	 	*****	  

  

	1 	 Purchaser Targeted Coke Production amounts in this Schedule 6.2(a) are subject to downward adjustment pursuant to Section 6.6.

  
 52 

 Schedule 7.2 
 Government Mandated Additional Capital Expenditures (Example) 
 Commencement of
first Contract Year: 01/01/10 
  

					
	 End of Term:
	  	 	12/31/21	  
	 Completion Date for Government Mandated
	  			
	 Additional Capital Expenditures:
	  	 	4/30/15	  
	 Number of partial or complete Contract Years Remaining in the Term
	  	 	6.67	  
	 Amortization Period (*****):
	  	 	*****	  
	 Interest Rate (pre-tax):
	  	 	*****	% 
	 Cost of Applicable Government Mandated
	  			
	 Additional Capital Expenditure:
	  	$	*****	  
	 Monthly Amortized Cost:
	  	$	*****	  
	 Unamortized Balance at End of Initial Term
	  	$	*****	  

  
 53 

 Schedule A-1 
 Lost Energy Charge 
 ***** 
 Where: 
 ***** 
 ***** 
 ***** 
 And Where: 
 ***** 
 ***** 

  
 54 

 Attachment A 
 Fuel Surcharge 
 In the event the average per-barrel monthly price of West Texas lntermediate
Crude Oil (the “WTI Average Price”) exceeds $***** as calculated using the daily prices published in The Wall Street Journal and as further described below, Norfolk Southern Railway Company (“NS”) will assess a fuel surcharge on
all line haul freight charges under the transportation contract C-9381 between NS and Seller for Coal delivered to the Coke Plants as set forth in this Attachment A. The applicable fuel surcharge percentage shall be applied to each shipment having a
bill of lading dated on or after the 1st day of the second calendar month following the calendar month of a given WTI Average Price calculation. The fuel surcharge will change monthly per the table below: 

 

							
	 Calendar Month of

WTI Average Price
	 	 Fuel Surcharge

Applied
	 	 Calendar Month of

WTI Average Price
	 	 Fuel Surcharge

Applied

	 January
	 	March 1	 	July	 	September 1
	 February
	 	April 1	 	August	 	October 1
	 March
	 	May 1	 	September	 	November 1
	 April
	 	June 1	 	October	 	December 1
	 May
	 	July 1	 	November	 	January 1
	 June
	 	August 1	 	December	 	February 1

 The fuel surcharge will be
*****% of the line haul freight charge for every $***** per barrel, or portion thereof, by which the WTI Average Price exceeds $*****. The WTI Average Price for a given calendar month will be determined by adding the daily West Texas Intermediate
Crude Oil prices published in The Wall Street Journal during a calendar month and dividing the result by the number of days so published in that given month. The result will be rounded to the nearest cent. If The Wall Street Journal ceases
publication of the price of West Texas Intermediate Crude Oil, NS will employ a suitable substitute source of price or measure. The following schedule reflects the applicable fuel surcharge within the WTI Average Price ranges noted below and is not
exclusive. 

  
 55 

			
	 WTI Average Price
	  	 Fuel Surcharge Percentage

	 *****
	  	 *****

	 *****
	  	 ***** 

	 *****
	  	 ***** 

	 ***** 
	  	 ***** 

	 ***** 
	  	 ***** 

	 ***** 
	  	 ***** 

	 ***** 
	  	 ***** 

	 ***** 
	  	 ***** 

	 ***** 
	  	 ***** 

	 ***** 
	  	 ***** 

	 ***** 
	  	 ***** 

	 ***** 
	  	 ***** 

	 ***** 
	  	 ***** 

	 ***** 
	  	 ***** 

	 For each dollar or portion thereof above $77.00:
	  	the FSC Increases by 0.3%

 Notice of
changes in the percentage amount of the Fuel Surcharge will be published on NS’s web page at www.nscorp.com. 
 Notice of changes in
the percentage amount of the fuel surcharge will be published on NS’s web page at www.nscorp.com. 

  
 56Amended and Restated Coke Purchase Agreement

 Exhibit 10.28 

 
  

 
 SPECIFIC TERMS IN THIS
EXHIBIT HAVE BEEN REDACTED BECAUSE CONFIDENTIAL 
 TREATMENT FOR THOSE TERMS HAS BEEN REQUESTED. THE REDACTED MATERIAL
HAS 
 BEEN SEPARATELY FILED WITH THE SECURITIES AND EXCHANGE COMMISSION, AND THE 

TERMS HAVE BEEN MARKED AT THE APPROPRIATE PLACE WITH FIVE ASTERISKS (*****). 

AMENDED AND RESTATED 
 COKE PURCHASE AGREEMENT 
 Dated as of February 19, 1998 

By and Between 

INDIANA HARBOR COKE COMPANY, L.P. 
 and 
 INLAND STEEL COMPANY 

 
  

 

 TABLE OF CONTENTS 

 

							
	ARTICLE I Definitions	  	 	2	  
			
	 1.1
	  	Affiliate	  	 	2	  
	 1.2
	  	Annual Budget	  	 	2	  
	 1.3
	  	Applicable Percentage	  	 	2	  
	 1.4
	  	Change of Law	  	 	2	  
	 1.5
	  	Code	  	 	2	  
	 1.6
	  	Coke	  	 	2	  
	 1.7
	  	Coke Plant	  	 	2	  
	 1.8
	  	Coke Purchase Agreement	  	 	2	  
	 1.9
	  	Coke Quality Specifications	  	 	2	  
	 1.10
	  	Cokenergy	  	 	2	  
	 1.11
	  	Commission	  	 	2	  
	 1.12
	  	Computer Model	  	 	2	  
	 1.13
	  	Confidential Information	  	 	3	  
	 1.14
	  	Contract Price	  	 	3	  
	 1.15
	  	Contract Year	  	 	3	  
	 1.16
	  	Credit Discount	  	 	3	  
	 1.17
	  	Default	  	 	3	  
	 1.18
	  	Designated Year	  	 	3	  
	 1.19
	  	Disallowance	  	 	3	  
	 1.20
	  	Disallowance Percentage	  	 	3	  
	 1.21
	  	Disallowed Discount	  	 	3	  
	 1.22
	  	Discount Period	  	 	3	  
	 1.23
	  	Escrow Agent	  	 	3	  
	 1.24
	  	Event of Default	  	 	4	  
	 1.25
	  	Final Determination	  	 	4	  
	 1.26
	  	Fire/Explosion Period	  	 	4	  
	 1.27
	  	Flip 1 Date	  	 	4	  
	 1.28
	  	Force Majeure	  	 	4	  
	 1.29
	  	Governmental Authority	  	 	4	  
	 1.30
	  	Governmental Imposition	  	 	4	  
	 1.31
	  	GP	  	 	4	  
	 1.32
	  	GP Indemnity Agreement	  	 	4	  
	 1.33
	  	Initial Full Production	  	 	5	  
	 1.34
	  	Initial Investment	  	 	5	  
	 1.35
	  	Initial Investor	  	 	5	  
	 1.36
	  	Initial Term	  	 	5	  
	 1.37
	  	IRS	  	 	5	  
	 1.38
	  	Minimum Coke Purchase Requirement	  	 	5	  
	 1.39
	  	Overdue Rate	  	 	5	  
	 1.40
	  	Original Coke Purchase Agreement	  	 	5	  
	 1.41
	  	Parties	  	 	5	  
	 1.42
	  	Partner	  	 	5	  
	 1.43
	  	Partnership Agreement	  	 	5	  

  
 i 

							
	 1.44
	 	Party	  	 	5	  
	 1.45
	 	Person	  	 	5	  
	 1.46
	 	Phase-Out	  	 	5	  
	 1.47
	 	Proposed Adjustment	  	 	5	  
	 1.48
	 	Proposed Price	  	 	6	  
	 1.49
	 	Purchaser	  	 	6	  
	 1.50
	 	Qualified Ovens	  	 	6	  
	 1.51
	 	Section 29 Tax. Credits	  	 	6	  
	 1.52
	 	Stockpiled Coke	  	 	6	  
	 1.53
	 	Tax Rate Adjustment Factor	  	 	6	  
	 1.54
	 	Ton or Tonnage	  	 	6	  
	 1.55
	 	Total Coke Plant Capital Cost	  	 	6	  
	 1.56
	 	Written or in writing	  	 	6	  
		
	ARTICLE II Term	  	 	6	  
			
	 2.1
	 	Initial Term	  	 	6	  
	 2.2
	 	Renewal Option	  	 	7	  
		
	ARTICLE III Quantity	  	 	7	  
			
	 3.1
	 	Take or Pay Basis	  	 	7	  
	 3.2
	 	Option to Purchase Available Excess Production	  	 	9	  
		
	ARTICLE IV Coke Quality	  	 	10	  
			
	 4.1
	 	Coke Quality Specifications	  	 	10	  
	 4.2
	 	Adjustments to Specifications	  	 	10	  
	 4.3
	 	Conformance to Quality Specifications	  	 	11	  
	 4.4
	 	Quality Program	  	 	11	  
	 4.5
	 	Duality Committee	  	 	12	  
	 4.6
	 	Right to Reject	  	 	12	  
	 4.7
	 	Price Adjustments	  	 	12	  
	 4.8
	 	Payment of Price Adjustments	  	 	12	  
	 4.9
	 	Coal Blend and Coal Supply Contracts	  	 	13	  
		
	ARTICLE V Pricing	  	 	13	  
			
	 5.1
	 	Contract Price Formula	  	 	13	  
	 5.2
	 	Intention of the Parties	  	 	21	  
		
	ARTICLE VI Delivery and Shipment	  	 	22	  
			
	 6.1
	 	Equal Daily Deliveries	  	 	22	  
	 6.2
	 	Weights	  	 	22	  
	 6.3
	 	Title and Risk of Loss	  	 	22	  

  
 ii 

							
		
	ARTICLE VII Billing and Payment	  	 	22	  
			
	 7.1
	  	Payment Terms and Invoicing	  	 	22	  
	 7.2
	  	No Set-Off	  	 	23	  
		
	ARTICLE VIII Stockpiled Coke	  	 	23	  
			
	 8.1
	  	Stockpiled Coke	  	 	23	  
		
	ARTICLE IX Escrow Account for Credit Discount	  	 	24	  
			
	 9.1
	  	Establishment of Escrow Account	  	 	24	  
	 9.2
	  	Purchaser’s Failure to Reimburse/Indemnify Seller	  	 	24	  
	 9.3
	  	Release of Escrow	  	 	25	  
	 9.4
	  	Escrow Agreement	  	 	25	  
		
	ARTICLE X Events of Default	  	 	25	  
	 10.1
	  	Purchaser’s Failure to Take or Pay	  	 	26	  
	 10.2
	  	Seller’s Failure to Deliver	  	 	26	  
	 10.3
	  	Insolvency or Bankruptcy of Purchaser or Seller.	  	 	26	  
	 10.4
	  	Failure to Perform Covenants, Etc.	  	 	27	  
	 10.5
	  	Termination for Breach	  	 	27	  
		
	ARTICLE XI Force Majeure	  	 	27	  
			
	 11.1
	  	Force Majeure	  	 	27	  
	 11.2
	  	Special Excuse for Nonperformance by Purchaser	  	 	28	  
	 11.3
	  	Major Fire or Explosion	  	 	28	  
		
	ARTICLE XII Arbitration	  	 	29	  
			
	 12.1
	  	Interpretation and Dispute Resolution	  	 	29	  
		
	ARTICLE XIII Warranties	  	 	30	  
			
	13. Title	  		  	 	30	  
	 13.1
	  	Quality	  	 	30	  
	 13.2
	  	Limitation of Warranties	  	 	30	  
	 13.3
	  	Suitability	  	 	31	  
		
	ARTICLE XIV Conditions Precedent; Early Termination	  	 	31	  
			
	 14.1
	  	Conditions Precedent	  	 	31	  
	 14.2
	  	Mutual Undertakings	  	 	32	  
	 14.3
	  	Early Termination	  	 	32	  
	 14.4
	  	Environmental Permit	  	 	33	  

  
 iii

							
	ARTICLE XV Miscellaneous	  	 	34	  
			
	 15.1
	  	No Violation; Collective Bargaining Agreements	  	 	34	  
	 15.2
	  	Notices	  	 	34	  
	 15.3
	  	No Special Damages; Governing Law	  	 	34	  
	 15.4
	  	Counterparts	  	 	35	  
	 15.5
	  	Severability	  	 	35	  
	 15.6
	  	Entire Agreement	  	 	35	  
	 15.7
	  	Captions	  	 	35	  
	 15.8
	  	Amendment	  	 	35	  
	 15.9
	  	Independent Contractors	  	 	35	  
	 15.10
	  	Waivers and Remedies	  	 	36	  
	 15.11
	  	Confidentiality	  	 	36	  
	 15.12
	  	Essence of Time	  	 	36	  
	 15.13
	  	Assignability	  	 	36	  
	 15.14
	  	Audit of Records	  	 	36	  

 Schedules: 

 

					
	Schedule 4.1	  	-	  	Coke Quality Specifications
	Schedule 4.4(c)	  	-	  	Monthly Coke Quality Report Format
	Schedule 4.4(d)	  	-	  	Off-Spec Coke Quality Report Format
	Schedule 4.4(e)	  	-	  	Coke Quality SPP Report Format
	Schedule 4.7	  	-	  	Coke Quality Price Adjustment
	Schedule 5.1(c)	  	-	  	Computer Model (Return on Capital Component)
	Schedule 5.1(e)	  	-	  	Calculation of Discount Related to Section 29 Tax Credits

Exhibits: 
  

			
	Exhibit A-1	  	- Form of Inland Steel Industries Guaranty
	Exhibit A-2	  	- Form of Sun Company, Inc. Guaranty
	Exhibit B	  	- Form of Elk River Resources, Inc. Guaranty
	Exhibit C	  	- Form of Escrow Agreement

  
 iv 

 AMENDED AND RESTATED 

COKE PURCHASE AGREEMENT 
 This Amended and Restated Coke Purchase Agreement, dated as of February 19, 1998 (this “Coke Purchase Agreement”), is by and between Indiana Harbor Coke Company, L.P., a Delaware limited
partnership, qualified to do business in Indiana (“Seller”), and Inland Steel Company, a Delaware corporation. (“Purchaser”). 
 W I T N E S S E T H 
 WHEREAS, Seller is a partnership formed between
Indiana Harbor Coke Company, a Delaware corporation as general partner, and Indiana Harbor Coke Corporation, an Indiana corporation, and DTE Indiana Harbor LLC, a Delaware limited liability company, as limited partners (each a “Partner”
and, collectively, the “Partners”) pursuant to an Amended and Restated Partnership Agreement of even date herewith (the “Partnership Agreement”); and 
 WHEREAS, as stated in the Partnership Agreement, Seller intends to design and construct, and to finance, own and operate a heat recovery cokemaking plant, together with related coal and coke handling
facilities, with an annual production of at least 1.22 million Tons of screened furnace coke (the “Coke Plant”); and 
 WHEREAS, Purchaser is desirous of obtaining an assured source of coke in such Tonnages and of such quality as described herein, and is willing to do so on a take or pay basis; and 

WHEREAS, Purchaser and Seller are parties to a Coke Purchase Agreement dated November 4, 1996 (the “Original Coke Purchase
Agreement”); and 
 WHEREAS, Purchaser and Seller desire to amend and restate the Original Coke Purchase Agreement as
provided in this Coke Purchase Agreement; and 
 WHEREAS, Purchaser and Seller desire that all references to the Original Coke
Purchase Agreement in any agreement, instrument or other document hereinafter be deemed to be a reference to this Coke Purchase Agreement; and 
 WHEREAS, Seller desires to sell and deliver coke to Purchaser, and Purchaser desires to purchase and accept coke from Seller, on the terms and conditions set forth in this Coke Purchase Agreement.

 NOW THEREFORE, in consideration of the mutual terms, covenants, and conditions herein contained, the mutual benefits to be
derived hereunder, and other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, and intending to be legally bound, the parties hereto agree as follows: 

ARTICLE I 

Definitions 
 As
used in this Coke Purchase Agreement, the following terms shall have the meanings herein specified: 

  
 1 

 1.1 Affiliate - shall mean as to any Person, any other Person which, directly or
indirectly, controls, or is controlled by, or is under common control with, such Person. For purposes of this definition, “control” of a Person means the power, directly or indirectly, either: 

(a) to vote ten percent (10%) or more of the securities having ordinary voting power for the election of directors of
such Person; or 
 (b) to direct or cause the direction of the management and policies of such person whether by
contract or otherwise. 
 1.2 Annual Budget - shall have the meaning provided herein at Section 5.1(b). 

1.3 Applicable Percentage - shall mean *****multiplied by the actual Credit Discount divided by the Credit Discount determined
without the $*****cap contained in Section 5.1(e)(3) of the Coke Purchase Agreement. 
 1.4 Change of Law - shall
mean a statutory change in the Code (including without limitation a repeal of all or any part of section 29 of the Code) to the extent that such change: 
 (a) causes any part of production from the Coke Plant to cease to be qualified fuels within the meaning of Section 29 of the Code; 

(b) reduces the rate at which Section 29 Tax Credits accrue per barrel of oil equivalent of Coke; or 

(c) limits the benefit or availability of Section 29 Tax Credits with respect to any class of persons which includes
the Initial Investor. 
 1.5 Code - shall mean the Internal Revenue Code of 1986, as amended. 

1.6 Coke - shall mean coke which meets the Coke Quality Specifications. 

1.7 Coke Plant - shall have the meaning set forth in the introduction to this Coke Purchase Agreement. 

1.8 Coke Purchase Agreement - shall have the meaning set forth in the introduction to this Coke Purchase Agreement. 

1.9 Coke Quality Specifications - shall have the meaning provided herein at Section 4.1. 

1.10 Cokenergy - shall have the meaning provided herein at Section 2.1(a). 

1.11 Commission - shall have the meaning provided herein at Section 3.1(e)(1). 

1.12 Computer Model - shall mean the computer model described in Schedules 5.1(c) and 5.1(e) and set forth in the attached
computer diskette. 

  
 2 

 1.13 Confidential Information - shall mean any material, non-public information that
is obtained by Purchaser or Seller in connection with the negotiation of the Coke Purchase Agreement and related transactional documents, including specifically by way of example and not of limitation: 

(a) the terms and provisions of this Coke Purchase Agreement and the Contract Price for Coke sold hereunder, including any
methodology for calculating such Contract Price; 
 (b) any information protected by the terms of any 

(c) confidentiality agreement between Seller and Purchaser; and 

(d) the terms of any Initial Investment (or related subsequent investment) and/or the identity of any Initial Investor (or
subsequent investor). 
 Confidential Information shall not include information that becomes generally available to the public other than as a
result of a disclosure by the Purchaser, or Seller its Affiliates or any directors, officers, employees or agents of the Purchaser or Seller or any Affiliate of the Purchaser or Seller. 

1.14 Contract Price - shall mean the price per ton of Coke included in the Minimum Coke Purchase Requirement, calculated in
accordance with the methodology set forth herein at Article V. 
 1.15 Contract Year - shall mean the period from and
including the date hereof to and including December 31, 1996, and thereafter shall mean each twelve (12) month period during which this Coke Purchase Agreement is in effect, commencing on each January 1st; provided, however,
that the last Contract Year shall end on the date of expiration of this Coke Purchase Agreement. 
 1.16 Credit
Discount - shall have the meaning provided herein at Section 5.1(e). 
 1.17 Default - shall mean any event, act
or condition which with notice, or lapse of time, or both would constitute an Event of Default. 
 1.18 Designated Year -
shall have the meaning provided herein at Section 9.3(a). 
 1.19 Disallowance - shall mean the disallowance by the
IRS of all or a portion of the Section 29 Tax Credits allocated to the Initial Investor. 
 1.20 Disallowance
Percentage - shall mean: 
 *****For purposes of determining the amount of Disallowed Discount in Section 5.1(e)(3)
hereof, a Proposed Adjustment that if sustained would result in a loss or reduction in the dollar value of Section 29 Tax Credits allocated to the Initial Investor, shall be treated as a loss of Section 29 Tax Credits in determining the
Disallowance Percentage. 
 1.21 Disallowed Discount - shall have the meaning provided herein at Section 5.1(e)(3)
hereof. 
 1.22 Discount Period - shall have the meaning provided herein at Section 5.1(e). 

1.23 Escrow Agent - shall have the meaning provided herein at Section 9.1. 

  
 3 

 1.24 Event of Default - shall have the meaning provided herein at Article X.

 1.25 Final Determination - shall mean: 

(a) a settlement of the Proposed Adjustment; 

(b) unless judicial-proceedings are initiated as provided in Section 5.1(e)(6)(iii) hereof, a final administrative
resolution with respect to the Proposed Adjustment as evidenced by a closing agreement, Form 870-P, Forms 870 or 870-AD or like form or agreement; 
 (c) a final decision with respect to the Proposed Adjustment by the Tax Court, Court of Federal Claims or the appropriate Federal District Court (unless appealed); 

(d) a final decision of a united States Court of Appeals with respect to the Proposed Adjustment; or 

(e) the expiration of the applicable statute of limitations for the tax period affected. 

1.26 Fire/Explosion Period - shall have the meaning provided herein at Section 11.3. 

1.27 Flip 1 Date - shall mean the first date on which the Initial Investor’s share in the proceeds from the production and
sale of Coke from the Coke Plant is reduced as a result of the achievement of a targeted return. 
 1.28 Force Majeure -
shall have the meaning provided herein at Section 11.1. 
 1.29 Governmental Authority - shall mean any nation or
government, any state or other political subdivision thereof and any entity exercising executive, legislative, judicial, regulatory or administrative functions of or pertaining to government. 

1.30 Governmental Imposition - shall mean any assessment, charge, impost or levy, however denominated (but not including fines or
other penalties for the failure to comply with nontax legal requirements), including any interest, penalties, or additions that is or may become payable in respect thereof, imposed by any state, local or federal or foreign Governmental Authority
that may be imposed on the purchase of coal, the production or sale of Coke, on any asset or transaction of Seller related to the Coke Plant including, but not limited to, a value added tax of any type and an energy tax of any type, (with the
exception of a tax measured by net income, the Indiana Gross Receipts Tax, or any withholding tax relating to a Partner’s interest in Seller). 
 1.31 GP - shall mean Indiana Harbor Coke Company, a Delaware corporation, general partner of Seller. 
 1.32 GP Indemnity Agreement - shall mean, in the event that an investor acquires an interest in the Partnership, any indemnity agreement between the investor and GP related to the indemnification
of certain tax benefits including Section 29 Tax Credits. 

  
 4 

 1.33 Initial Full Production - shall mean and refer to the date on which Three
Thousand Three Hundred Forty Two (3,342) Tons of daily Coke production from the Coke Plant is first available for sale and delivery, 
 1.34 Initial Investment - shall have the meaning provided herein at Section 5.1(e). 
 1.35 Initial Investor - shall have the meaning provided herein at Section 5.1(e). 
 1.36 Initial Term - shall have the meaning provided herein at Section 2.1. 
 1.37 IRS - shall mean the U.S. Internal Revenue Service, or any similar or successor federal agency. 
 1.38 Minimum Coke Purchase Requirement - shall mean and represent, during any one Contract Year, Coke that the Seller is required to sell and that the Purchaser is required to purchase on a take or
pay basis: 
 (a) for Contract Year periods subsequent to the date hereof, but prior to the date of commencement
of Initial Full Production, the Minimum Coke Purchase Requirement shall be an amount of Coke equal to all available Coke produced by the Coke Plant; 
 (b) for Contract Year periods following Initial Full Production, but before the end of the Initial Term, the Minimum Coke Purchase Requirement shall be 1.22 million Tons per Contract Year, reduced by
the amount of Coke that Seller is excused from selling to Purchaser, and/or Purchaser is excused from buying from Seller, pursuant to the Force Majeure provisions of Article XI hereof. 

1.39 Overdue Rate - shall have the meaning provided herein at Section 7.1. 

1.40 Original Coke Purchase Agreement - shall have the meaning set forth in the introduction to this Coke Purchase Agreement.

 1.41 Parties - means both the Purchaser and the Seller. 

1.42 Partner - shall have the meaning set forth in the introduction to this Coke Purchase Agreement. 

1.43 Partnership Agreement - shall have the meaning set forth in the introduction to this Coke Purchase Agreement. 

1.44 Party - means either the Purchaser or the Seller, depending upon the context in which the term is used. 

1.45 Person - shall mean and include any individual, firm, corporation, partnership, limited liability corporation, association,
trust or other enterprise or any government or political subdivision or agency, department or instrumentality thereof. 
 1.46
Phase-Out - shall mean a reduction in the dollar value of the credit per barrel-of-oil equivalent allowed for the Coke Plant production by reason of section 29(b) of the Code. 

1.47 Proposed Adjustment - shall mean an adjustment proposed on the earlier of a written proposed audit finding (PAF), revenue
agent’s report (RAR), 30-day letter, statutory notice of deficiency or their equivalent. 

  
 5 

 1.48 Proposed Price - shall have the meaning provided herein at
Section 3.1(e)(1). 
 1.49 Purchaser - shall have the meaning set forth in the introduction to this Coke Purchase
Agreement. 
 1.50 Qualified Ovens - shall mean coke ovens that are described in section 29(g) (1) and (2) of
the Code. 
 1.51 Section 29 Tax. Credits - shall mean U.S. federal income tax credits provided for in section 29 of
the Code. 
 1.52 Stockpiled Coke - shall have the meaning provided herein at Article VIII. 

1.53 Tax Rate Adjustment Factor - shall mean a *****. 
 1.54 Ton, or Tonnage - shall mean, with respect to Coke purchased pursuant to this Coke Purchase Agreement, a short ton of two thousand (2,000) pounds of Coke at ***** moisture content.
All tonnages of Coke sold pursuant to this Coke Purchase Agreement shall be adjusted to ***** in accordance with the following formula: 
 ***** = Tonnage. 
 1.55 Total Coke Plant Capital Cost - shall mean the
Seller’s initial capital investment (not to exceed One Hundred Eighty Six Million Dollars ($186,000,000) reduced by the amount of liquidated damages received by the Seller from the general contractors for construction of the Coke Plant)
required to build and operate the Coke Plant together with organization and start-up costs (but not to exceed $1,500,000 net of any state training incentives), together with subsequent capital investments made by Seller as shown in the Computer
Model attached hereto as Schedule 5.1(c); and additional capital expenditures as required from time to time by changes in applicable law, regulations or regulatory orders (or changes in official interpretations thereof). 

1.56 Written or in writing shall mean any form of written communication or a communication by means of telex, telecopier
device, telegraph or cable. 
 ARTICLE II 
 Term 
 2.1 Initial Term. Except as otherwise provided herein, this Coke
Purchase Agreement shall be in full force and effect from the date hereof, and thereafter for an initial term (the “Initial Term”) of fifteen (15) years commencing from the first to occur of: 

(a) the later of the date of Initial Full Production and the Tolling Commencement Date under that certain Tolling
Agreement, dated of even date herewith, between Purchaser and Cokenergy, Inc., an Indiana corporation (“Cokenergy”); or 
 (b) January 1, 1999. 

  
 6 

 2.2 Renewal Option. Purchaser is hereby granted the right to renew the term of this
Coke Purchase Agreement at a contract price that is mutually acceptable to both Purchaser and Seller. The contract price during any such renewal term will: 
 (a) be based on methodology for calculation substantially similar to that set forth herein at Article V; 
 (b) accommodate the Coke Plant’s need for new capital expenditures (calculated using a *****% after tax rate of return to Seller) and amortized over the remaining economically useful life of the Coke
Plant; and 
 (c) enable Seller to realize the residual value as determined by the Computer Model attached hereto
as Schedule 5.1(c), amortized over the remaining economically useful life of the Coke Plant. 
 At least twenty-four
(24) months prior to the expiration of the Initial Term, Purchaser must give notice to Seller of Purchaser’s intent to renew, specifying a renewal term not less than three but not more than ten years in duration. Seller will reply within
thirty (30) days following receipt of Purchaser’s notice of intent to renew, and in so replying Seller shall specify the required additional capital, the approximate projected economically useful life remaining and a proposed contract
price for Coke in accordance with subsections 2.2(a), (b) and (c) above and the Parties hereby agree to use their commercially reasonable good faith efforts to negotiate a mutually acceptable contract price to apply during such renewal
term. If Purchaser fails to give notice of its intent to renew twenty-four (24) months prior to expiration of the Initial Term, such failure shall operate as a conclusive waiver of Purchaser’s right to renew. 

ARTICLE III 

Quantity 
 3.1
Take or Pay Basis. During the term of this Coke Purchase Agreement, and subject to the terms and conditions hereof (including without limitation, the provisions relating to Purchaser’s No. 7 Blast Furnace set forth in Article XI
hereof), Seller shall sell and deliver, on a take or pay basis, and Purchaser shall buy and accept delivery of Coke from Seller on a take or pay basis, in the amount of the Minimum Coke Purchase Requirement for each relevant Contract Year
period. Should Purchaser fail to take the Minimum Coke Purchase Requirement tendered for any monthly period, Purchaser shall nonetheless be obligated to pay the Contract Price for Purchaser’s Minimum Coke Purchase Requirement for such monthly
period. 
 It is specifically understood that: 

(a) Subject to the Force Majeure provisions herein contained, Seller’s contractual obligation hereunder is to sell
Coke to Purchaser in the amount of the Minimum Coke Purchase Requirement without regard to the actual amount of Coke produced by the Coke Plant. To the extent 

  
 7 

 
practicable, Seller will satisfy its obligation to deliver the required Coke Tonnages with Coke produced at the Coke Plant. 

(b) Should Seller fail to deliver approximately 21,000 Tons per week, for any period of two or more consecutive weeks,
Purchaser shall have the right to secure such deficit from any other source and, in addition to any other rights and remedies hereunder, Purchaser shall be entitled to recover from Seller the amount, if any, by which the purchase price, together
with any and all reasonable costs actually incurred by Purchaser in securing such substitute Coke exceeds the Contract Price determined without regard to Section 5.1(e). 

(c) If Purchaser wrongfully rejects the Coke, Seller shall have the right to sell such Coke to third parties, and, in
addition to any other rights and remedies hereunder, Seller shall be entitled to recover from Purchaser: 
 (1) A
penalty in the amount of ***** per Ton for such wrongly rejected coke; and 
 (2) the full Contract Price of such
rejected Coke net of resale proceeds, if any, (adjusted for handling losses) and sales of nut coke and breeze. The Purchaser shall not be entitled to receive any discount described herein at Section 5.1(e) relating to Section 29 Tax
Credits that may be available in connection with any resale by Seller of such rejected Coke to third parties. 
 (d) In the event that Seller is unable to satisfy its contractual obligation to deliver the Minimum Coke Purchase Requirement solely from Coke produced by the Coke Plant, Seller will provide Purchaser
with advance written notice of such inability, together with an indication of whether or not Seller is reasonably likely to secure the deficit from a probable alternate source (and identification of any such probable alternate source, if possible).
Seller will use commercially reasonable efforts to secure any such deficit from an identifiable producer. Such notice shall also include the delivered price for such Coke. Within five (5) days of its receipt of such notice from Seller,
Purchaser will inform Seller in writing whether or not Purchaser will accept delivery from Seller of Coke meeting the Coke Quality Specifications, but not produced by the Coke Plant. If Purchaser elects not to accept delivery from Seller of such
Coke produced by sources other than from the Coke Plant, Seller will be relieved of any delivery obligation under this Coke Purchase Agreement with respect to such Tonnage, and Purchaser will not be entitled to receive from Seller any reimbursement
of costs incurred by Purchaser in securing substitute Coke other than a rebate equal to the lesser of (1) the excess, if any, of the delivered price of the substitute Coke proposed by Seller over the Contract Price, and (2) the
excess-, if any, of the delivered price of the substitute
Coke actually purchased by Purchaser over the Contract Price. 

  
 8 

 (e) Although the Parties anticipate that Coke purchased hereunder will be
used for Purchaser’s own operation, Purchaser may resell to third parties as follows: 
 (1) Purchaser will
notify Seller of the amount of Coke Purchaser desires to resell and Seller shall use its reasonable good faith efforts to obtain the most favorable price on any such resale and shall not discriminate against Purchaser in favor of any other party
(including Seller) for whom Seller is selling coke. Within sixty (60) days of Purchaser’s notice, Seller shall notify Purchaser of the bona fide price at which Seller is able to sell such Coke (the “Proposed Price”), and in
respect of any such resales, Purchaser shall pay Seller a commission (the “Commission”) in addition to the Contract Price equal to *****per Ton) resold, but not greater than the excess, if any, of the resale price per Ton over the Contract
Price per Ton. 
 (2) If Seller’s Proposed Price is unacceptable to Purchaser, then Purchaser may resell
such Coke on its own account and pay Seller as the “Commission” an amount equal to *****of the Commission that would have been payable to the Seller based upon the Proposed Price. Purchaser will use its reasonable good faith efforts to
obtain a price that exceeds the Proposed Price. 
 (3) The Commission will be paid to Seller within five
(5) Business Days of Purchaser’s receipt of payment for such resold Coke. 
 (4) If Seller does not
provide Purchaser with a Proposed Price within sixty (60) days of Purchaser’s notice pursuant to Section 3.1(e)(1), then Purchaser may resell such Coke for its own account, and no Commission will be payable to Seller in respect of
such resold Coke. 
 3.2 Option to Purchase Available Excess Production. Provided that Purchaser uses
substantially all, but in no event less than ***** Tons of Minimum Coke Purchase Requirement Tonnage (or such lesser tonnage as actually produced by the Coke Plant) in any one Contract Year period (determined on a ratable basis during each
Contract Year) for its No. 7 Blast Furnace or other facilities at its Indiana Harbor Works location, or such failure by Purchaser to use more than ***** Tons results solely from a Force Majeure event or planned furnace reline at
Purchaser’s No. 7 Blast Furnace pursuant to Section 11.2, then Purchaser may, at its option, purchase and accept from the Seller, for Purchaser’s own use (and not for resale), and Seller shall sell and deliver to Purchaser, such
additional quantities of Coke produced by the Coke Plant as may be available in excess of Purchaser’s Minimum Coke Purchase Requirement for the relevant Contract Year period. The purchase price per Ton for any such available excess Coke shall
be equal to the Contract Price determined without regard to Section 5.1(e) hereof, less a discount equal to *****. 

  
 9 

 Seller will notify Purchaser in writing approximately six (6) months prior to the
beginning of each calendar quarter, as to the quantity of additional Coke, if any, reasonably expected to be available during such calendar quarter. In order to establish its right to purchase any such available additional quantities of Coke, the
Purchaser must deliver to Seller written notice of its commitment to purchase the identified available excess quantities of Coke on or before the thirtieth (30th) day following Seller’s original notice to Purchaser. Delivery of such notice
of commitment by the Purchaser shall be irrevocable and shall be binding on the Purchaser for all purposes of this Coke Purchase Agreement. If Seller does not receive Purchaser’s notice of commitment to purchase within such thirty (30) day
period, Purchaser shall be deemed to have declined its option to purchase the available additional quantities of Coke previously identified by Seller. Any Tonnages of Coke purchased by Purchaser pursuant to the provisions of this Section 3.2,
regarding Purchaser’s option to purchase excess production, shall not be counted towards those Tonnages of Coke needed to fulfill the Purchaser’s Minimum Coke Purchase Requirement during any Contract Year period. In the event Purchaser
declines additional or excess Coke pursuant to this Section 3.2 (or is not entitled to purchase such excess Coke), Seller shall be relieved of any obligation under this Coke Purchase Agreement to produce such additional or excess Coke.

 In the event that Purchaser should resell to third parties ***** Tons or more of the Coke purchased under this Coke Purchase
Agreement in any one Contract Year, Purchaser will have no option to purchase excess Coke produced at the Coke Plant during such Contract Year. Any excess Coke produced by the Coke Plant and not purchased by Purchaser for its own use pursuant to
this Section 3.2 may be sold by Seller for its own account. 
 ARTICLE IV 

Coke Quality 

4.1 Coke Quality Specifications. All Coke purchased and sold under this Coke Purchase Agreement shall conform to the quality
requirements set forth on Schedule 4.1 (the “Coke Quality Specifications”), based on Purchaser’s laboratory analysis. If Purchaser’s chemical analyses do not agree with Seller’s chemical analyses, Purchaser and Seller will
attempt to harmonize the discrepancies, to determine the actual quality of the Coke delivered, and/or to mutually agree on appropriate adjustments. If Purchaser and Seller are unable to agree as to the chemical quality of Coke delivered, both
Seller’s and Purchaser’s laboratories will analyze mutually agreed upon, certified standard samples of the chemical quality parameter in dispute. Both laboratories will adjust their laboratory equipment and/or procedures to conform to the
value of the certified standard sample. 
 4.2 Adjustments to Specifications. Seller and Purchaser each acknowledge that
several of the Coke Quality Specifications are dependent upon the coal blend used at the Coke Plant. From time to time, seller and Purchaser shall jointly develop the blend of coals to be used at the Coke Plant and shall mutually agree upon

  
 10 

 
any required or resulting changes to the Coke Quality Specifications. Seller shall not alter the coal blend without the prior written approval of Purchaser, which will not be unreasonably
withheld or delayed. Seller shall give Purchaser prompt written confirmation of any changes in the coal blend. 
 4.3
Conformance to Quality Specifications. Conformance to Coke Quality Specifications will be determined based on samples taken and analyzed by Seller as follows: 
  

					
	*****	  	*****	  	*****
			
	*****	  	*****	  	*****
			
	*****	  	*****	  	*****
			
	*****	  	*****	  	*****
			
	*****	  	*****	  	*****

 4.4 Quality Program. Seller
shall participate in Purchaser’s Quality Conformance Program, which utilizes statistical process control methods. Seller’s participation shall require the following: 

(a) Seller shall furnish daily and weekly quality data directly to Purchaser. 

(b) Seller shall have CSR and Stability tests performed in a manner consistent with procedures provided by Purchaser.
Purchaser’s Lab will be the control Lab. 
 (c) Seller shall furnish Purchaser a monthly quality report in
Purchaser’s designated format, an example of which is attached hereto as Schedule 4.4(c) and incorporated herein by this reference, by the tenth (10th) day of the following month. The format shall be reviewed on an annual basis.

 (d) Whenever any delivery does not conform to the Coke Quality Specifications, Seller shall immediately
furnish Purchaser with an off-spec report in Purchaser’s-designated format, an example of which is attached hereto as Schedule 4.4(d) and incorporated herein by this reference, defining parameter, time, cause and corrective action. 

  
 11 

 (e) Seller will report analyses of Coke to Purchaser using Purchaser’s
SPP formats, examples of which are attached hereto as Schedule 4.4(e) and incorporated herein by this reference, and will modify such formats as necessary. 
 (f) Seller and Purchaser will exchange samples for round robin testing between labs on a monthly basis. 
 4.5 Duality Committee. Seller shall accommodate quality audits and customer/supplier meetings with Purchaser, which will be held as often as required and at least quarterly, during which appointed
representatives of Seller and Purchaser shall review performance to Coke Quality Specifications, changes to Coke Quality Specifications and coal blends. 
 4.6 Right to Reject. Purchaser, at its sole option, may reject any Coke that exceeds (higher or lower) one or more of the Reject Values specified in Schedule 4.1 attached hereto. Any such Coke will
be considered unusable under the terms of this Agreement; provided, however, that: 
 (a) Purchaser shall
be entitled to the benefit of the discount for Section 29 Tax Credits, if any, under Article V with respect to such rejected Coke to the extent such rejected Coke is sold by Seller to other than Purchaser and Seller replaces the rejected Coke
with Coke not qualifying for the Credit Discount; and 
 (b) such rejected Coke will not be counted as satisfying
Seller’s minimum delivery requirements under Section 3.1, unless such rejected Coke is subsequently delivered to, and accepted by, Purchaser. 
 4.7 Price Adjustments. All Coke which does not meet one or more Coke Quality Specifications, and which is not rejected by Purchaser pursuant to Section 4.6, will be subject to price
adjustments based on analyses performed in accordance with Section 4.3 of this Coke Purchase Agreement, calculated according to the formulas set forth in Schedule 4.7 hereto. 

4.8 Payment of Price Adjustments. 
 (a) Price Adjustments (Except Alkali and Phosphorus). Seller will generate and transmit to Purchaser a monthly quality summary within fifteen (15) working days after the end of each month. The
quality summary will show by day (delivery) the Tons at *****. Any price adjustments associated with the individual deliveries will be calculated and a monthly total shown. Contemporaneously with the quality summary, Seller will invoice (debit or
credit) Purchaser the amount of the price adjustments. Purchaser shall pay (debit or credit) any such quality price adjustments in immediately available funds on the first (1st) day of the month succeeding Seller’s transmittal of the
quality summary and invoice to Purchaser. 

  
 12 

 (b) Price Adjustments (Alkali and Phosphorus). The Alkali and Phosphorus
analysis will be performed on a weekly basis and reported to Purchaser on a monthly basis as provided herein. No additional documents will be generated unless the Alkali and/or Phosphorus is in the Price Increase Range or Price Decrease Range. In
the event that the Alkali and or Phosphorus is in the Price Increase Range or Price Decrease Range, Seller will generate an Off-Spec Quality Report within fifteen (15) working days after the end of each month showing the total Tons at
*****moisture, the current price, Alkali/Phosphorus, and the total associated price adjustment. Contemporaneously with the Off-Spec Quality Report, Seller will invoice (debit or credit) Purchaser the amount of the related price adjustment. Purchaser
shall pay (debit or credit) any such adjustment in immediately available funds on the first (1st) day of the month succeeding Seller’s transmittal of such Off-Spec Quality Report and invoice to Purchaser. 

4.9 Coal Blend and Coal Supply Contracts. Seller will purchase the coals to be included in any such coal blend at fair market
value, and will procure at fair market value, such transportation and blending services as may be needed to deliver the blended coal to the Coke Plant. Seller shall not, without the prior consent of Purchaser, enter into any contracts with terms
exceeding two (2) years for the supply of coals to be used in connection with the production of Coke at the Coke Plant. Such consent of Purchaser shall not be unreasonably withheld. Any of Seller’s contracts (or other purchases) with or
from its Affiliates for coal used in the production of Coke shall be on terms no less favorable to Seller than such terms would be had such contract or purchase been with an unrelated third-party supplier of coal. 

ARTICLE V 

Pricing 
 5.1
Contract Price Formula. The Parties agree to use their good faith, reasonable efforts to cause the Contract Price to be as low as commercially feasible. The Contract Price per Ton of Coke sold to Purchaser pursuant to the terms and provisions
of this Coke Purchase Agreement shall be the sum of the following items: 
 (a) Coal Price
Component: The-actual cost incurred by Seller of
purchasing the coal blends, together with any transportation, blending, and handling costs and the costs of any other services actually incurred by Seller as needed to deliver the blended coal to the Coke Plant. This Coal Price Component of the
Contract Price will be calculated on a per Ton of coal charged to the oven basis. Coal to screened Coke yield standards as determined below will be used to convert coal price to coke cost: 

(1) Seller and Purchaser agree to test the initial coal blend in the similar cokemaking facility owned by an Affiliate of,
Seller to determine initial standards for coke 

  
 13 

 
quality and yield. This test will be run utilizing at least ***** coke ovens for a duration of at least seven (7) days; and 

(2) As soon as practical, Seller will run control tests on the new ovens to determine final quality and yield standards
for the initial blend. From time to time, Seller and Purchaser will run subsequent controlled tests and will mutually agree to change the standards as necessary. The testing procedure described in this subsection 5.1(a)(2) will be followed for any
new coal blends. 
 (b) Operating Cost Component: The operating cost per Ton of Coke produced by the Coke Plant,
calculated as the sum of the following items: 
 (1) Budgeted Cost. No later than January 31, 1998, Seller
shall establish a preliminary operating budget on a per Ton basis for the first year of the Initial Term, and such preliminary budget shall be revised during the third full month following Initial Full Production and such revised preliminary budget
shall apply prospectively to periods following the third full month after Initial Full Production. No later than ninety (90) days prior to the end of each subsequent fiscal year, the Seller shall establish an annual budget on a per Ton basis
for the Coke Plant, for the succeeding fiscal year (the “Annual Budget”), based on the following items: 
 (i) historical operations and maintenance history at similar cokemaking facilities operated by Affiliates of Seller; and 

(ii) projected annual Coke production of 1.22 Million Tons at the Coke Plant. 

(iii) labor expenses (which will not be inconsistent with market conditions and Purchaser’s labor relations); and

 (iv) other conditions specific to the Coke Plant. 

The preliminary budget, and each Annual Budget will set forth estimates with respect to operating costs, capital
expenditures and other similar matters. The preliminary budget and each Annual Budget, as the same may be amended, shall become effective upon the occurrence of the earlier of: (A) the approval in writing by the Purchaser, or (B) the lapse
of thirty (30) business days following notice of such preliminary budget and each Annual Budget to Purchaser. Seller shall use its good faith commercially reasonable efforts to operate the Cake Plant within the preliminary budget and each
Annual Budget, as adopted. 

  
 14 

 If, within thirty (30) business days following notice by Seller to
Purchaser of the preliminary budget and each Annual Budget, the Purchaser notifies Seller in writing of Purchaser’s disapproval of such preliminary budget and each proposed Annual Budget, the Parties shall, within ninety (90) days of
Seller’s receipt of Purchaser’s written notice of disapproval, attempt to resolve their disagreements with respect to specific line item estimates set forth in the preliminary budget and each Annual Budget. Any disagreements that remain at
the end of such ninety (90) day period shall be submitted to binding arbitration in accordance with the procedures established in Article XII hereof. Notwithstanding the foregoing, Seller shall continue to operate the Coke Plant, within the
limitations set forth in the preliminary budget and each Annual Budget for which a disagreement between Purchaser and Seller exists (pending resolution by the Parties or binding arbitration, as the case may be) during any such period. In the case of
an extraordinary event or expenditure which was not reasonably foreseeable by Seller, Purchaser and Seller agree to negotiate in good faith to amend the budget to give effect to increased operating costs resulting from such event or expenditures.

 Except for a quarter during which a Fire/Explosion Period occurs and during which Purchaser has requested a
reduction in Coke Plant production, Purchaser shall receive on a quarterly basis a credit with respect to the Contract Price equal to ***** are less than the preliminary budget and each Annual Budget estimate for the relevant period. Except for a
quarter during which a Fire/Explosion Period occurs and during which Purchaser has requested a reduction in Coke Plant production, Purchaser shall be charged on a quarterly basis an amount equal to *****) exceed the preliminary budget and each
Annual Budget estimate for the relevant period. 
 In any quarter during which a Fire/Explosion Period occurs and
during which Purchaser has requested a reduction in Coke Plant Production, Purchaser will be charged for *****. Seller will use good faith reasonable commercial efforts to minimize operating costs incurred during such period; and 

(2) Governmental Impositions. Operating Costs shall include all Governmental Impositions which Seller is not
reasonably able to mitigate plus actual costs incurred by the Seller in the course of such mitigation. 
 Any
increase in the Coke Plant’s operating cost per Ton as a result of the amendment or revision of any Coke Quality Specifications, will be paid by Purchaser as an adjustment to the Contract Price of the Coke sold under this Coke Purchase
Agreement. Likewise, Purchaser will be entitled to an adjustment to the Contract Price of the Coke sold under this Coke Purchase Agreement in an amount equal to*****. 

  
 15 

 (c) Return on Capital Component: The projected cost per Ton will provide
Seller with a ***** after-tax return on the total Coke Plant capital cost (using internal rate of return method of calculation) (the “Total Coke Plant Capital Cost”) and will be fixed for the term of this Coke Purchase Agreement. The
Return on Capital Component will be computed based on a *****. The Parties agree to negotiate in good faith an adjustment to the assumed tax rate and corresponding change in the Return on Capital Component if a tax in lieu, in whole or in part, of
an income tax is imposed. 
 During the period covered by the preliminary budget the Return on Capital Component
will be determined by Seller’s good faith estimate of Total Coke Plant Capital Cost. During the third full month of Initial Full Production the Final Return on Capital Component will be calculated using the Computer Model attached hereto as
Schedule 5.1(c). The Tons of Coke sold in 1998 shall equal Seller’s good faith projection of 1998 Tons sold as projected in the third full month following Initial Full Production. In the event of any additional capital expenditures required by
applicable law or regulation, the Computer Model will be used to recalculate a new rate of return (over the remaining economically useful life of the Coke Plant) taking into account such additional capital expenditures. 

(d) [Intentionally Omitted]. 
 (e) Discount for Section 29 Tax Credits: 
 (1) In the event
that: 
 (i) Coke produced by the Coke Plant and sold to parties unrelated to Seller qualifies for a tax credit
under Section 29 of the Code, and an investor (together with its successors and assigns, the “Initial Investor”) acquires an interest in Seller (such investment being the “Initial Investment”), the Contract Price per Ton of
Coke delivered hereunder will be reduced during the Discount Period by the Credit Discount attributable to Coke produced by the Coke Plant from Qualified Ovens; provided, however, that the Credit Discount will not be attributable to Coke
produced from Qualified Ovens in the Coke Plant in excess of 1.22 Million Tons during any twelve (12) month period commencing on or after Initial Full Production (pro-rated for shorter periods). Seller shall use its good faith efforts to obtain
an Initial Investment and subsequent investments on commercially reasonable terms to Seller, GP and GP’s Affiliates for transactions involving facilities, of this type and which takes into account the availability to the Initial Investor of tax
benefits (including, without limitation, credits available pursuant to Section 29 of the Code). The terms, conditions and pricing of such Initial Investment shall be structured by Seller, in its

  
 16 

 
sole discretion, taking into account opportunities to minimize the Contract Price and amounts payable by Purchaser hereunder, Seller will consult with and keep Purchaser informed regarding the
progress and proposed terms of the proposed Initial Investment and subsequent investments. 
 (2) “Discount
Period” shall mean the period commencing on the date of the Initial Investment and ending on the Flip 1 Date. 
 (3) The “Credit Discount” shall mean the amount determined in accordance with Schedule 5.1(e) attached hereto and made a part hereof, but in no event exceeding ***** per Ton. For the period
commencing on the date of the Initial Investment and ending with the end of the fifth full calendar month following the later of Initial Full Production or the date of the Initial Investment, a tentative discount will equal ***** per Ton, to be
adjusted at the end of such period to reflect the actual Credit Discount, with an excess to be recovered by Seller by an increase in the Contract Price per Ton on the next issued invoice, plus interest at ***** basis points over the ninety
(90) day U.S. Treasury bill, as quoted by the Wall Street Journal on the first business day of each month. Notwithstanding the foregoing, if the Initial Investment occurs on or before February 28, 1998, then during the period beginning on
the date of the Initial Investment and ending on the earlier of June 30, 1998 or the date of Initial Full Production, the Credit Discount will be reduced by ***** per Ton. 

If the dollar value of Section 29 Tax Credits that is allocable to the Initial Investor will be less than the dollar
value of Section 29 Tax Credits that would have been allocable to the Initial Investor if such a reduction had not occurred, whether as result of a Change of Law, Phase-Out, Disallowance, or otherwise, or if a Proposed Adjustment is made that
if sustained would result in such a reduction of Credits, then the Credit Discount attributable to future deliveries of Coke hereunder shall be reduced by an amount equal to ***** To the extent that it is subsequently determined that such reduction
(other than a reduction due to a Proposed Adjustment) in the Credit Discount is not applicable, Seller shall pay Purchaser an amount equal to *****. 
 Notwithstanding the foregoing, in the case of a Proposed Adjustment, an amount equal to ***** shall be deposited into the escrow account as described in Article IX. Upon the Final Determination regarding
such Proposed Adjustment, Seller and Purchaser shall direct the Escrow Agent to disburse to Purchaser an amount attributable to the *****. 
 The Credit Discount shall be reduced under this Section 5.1(e)(3) only in the case where the Initial Investor is protected from the loss or reduction in value of the Section 29 Tax Credits

  
 17 

 
whether by means of a tax indemnity payment by GP, an extension of an Investor flip date or sharing phase or otherwise. 

(4) On or before thirty days after the later of the date of the Initial Investment or the end of the third full month
following Initial Full Production, Seller will compute the Credit Discount and provide Purchaser with written notice of the amount of the discount as well as a copy of the relevant calculation of the discount. 

(5) In the event that: 
 (i) the Initial Investor or a new investor makes an investment in the Seller subsequent to the Initial Investment, whether by contribution or a purchase of a partnership interest; and 

(ii) Coke produced by the Coke Plant and sold to parties unrelated to Seller continues to qualify for a credit under
Section 29 of the Code, 
 Seller and Purchaser will negotiate a discount to the Contract Price per Ton in an amount and for
a period consistent with the provisions of this subsection (e) and Schedule 5.1(e) hereto, as well as a related credit discount reduction and reimbursement provisions consistent with the provision of Section 5.1(e)(3) and (6) hereof.

 During any period in which GP and Indiana Harbor Coke Corporation in the aggregate have an allocable share of
Partnership revenue in excess of *****, and an affiliated group filing a consolidated federal income tax return of which GP or Indiana Harbor Coke Corporation is a member, realizes an incremental cash tax benefit due to Section 29 Tax Credits
attributable to the Coke Plant determined by comparing the consolidated cash tax liability due with and without its allocable share of the Section 29 Tax Credits attributable to the Coke Plant, Seller and Purchaser agree to negotiate in good
faith a discount to the Contract Price reflecting an equal sharing of such incremental benefit, to be adjusted as such consolidated tax liability is adjusted by audit, appeal, and court decision and which will include a provision whereby the
independent accountants for the affiliated group including such partners will certify to Purchaser, based upon the tax returns actually filed by such group, the actual incremental cash tax benefits received by such group, and will not provide for
audits by such accountants of Purchaser. 
 (6) 

(i) If there is any loss, Disallowance or reduction in the dollar value of Section 29 Tax Credits with respect to
Coke production previously allocated to the 

  
 18 

 
Initial Investor, then Purchaser shall repay the Credit Discount to Seller in an amount equal to *****; provided, however, that Purchaser shall not be required to make any payment with respect to
any Disallowance of Section 29 Tax Credits being contested by GP or the Initial Investor prior to a Final Determination of such proposed adjustment, provided, further that the Credit Discount Reimbursement shall be made only in the case where
the Investor is protected from the loss, Disallowance or reduction in dollar value of Section 29 Tax Credits whether by means of a tax indemnity payment by GP, an extension of an Investor flip date or sharing phase or otherwise 

(ii) In the event that GP is required to make a payment to the Initial Investor pursuant to the GP Indemnity Agreement
relating to any loss, Disallowance or reduction in the dollar value of Section 29 Tax Credits, the applicable interest rate shall be the underpayment rate for large corporate underpayments as provided in section 6621(c) of the Code or its
equivalent. If GP is not required to make such a payment to the Initial Investor and the loss, Disallowance or reduction in the dollar value of the Section 29 Tax Credits is equal to or greater than ***** of the aggregate Section 29
Credits that would have been allocable to the Initial Investor without regard to such loss, Disallowance or reduction, the applicable interest rate shall be equal to the Investor’s Percentage Return in the Computer Model. In all other cases the
applicable interest rate shall equal the ***** 
 (iii) In the event that either the IRS proposes in writing an
adjustment to any Partnership item of income, deduction or credit or GP receives notice from the Initial Investor that it has received a notice in writing from the IRS of an adjustment, that, if agreed to by the Partnership or the Initial Investor,
would result in a Credit Discount Reimbursement by Purchaser pursuant to this Agreement, Seller shall promptly notify Purchaser in writing of such proposed adjustment and of any action taken or proposed to be taken by the IRS with respect thereto.
Purchaser will cooperate with GP and the Initial Investor in the contest of such item. In the event that the proposed adjustment is to be contested by the tax matters partner of the Partnership, Purchaser shall have the right to retain counsel, at
its expense, to advise it with respect to the proposed adjustment, and GP shall keep Purchaser and its counsel informed as to the progress of such contest, give Purchaser and its counsel 

  
 19 

 
the opportunity to review and comment in advance on written submissions, filings and proposed settlements that relate to such proposed adjustment, and consider in good faith any suggestions made
by Purchaser or its counsel. Likewise, in the event that the proposed adjustment is to be contested by the Investor, Purchaser shall have the right to retain counsel, at its expense, to advise it with respect to the proposed adjustment, and GP
shall, to the extent not inconsistent with the rights GP has from the Investor, keep Purchaser and its counsel informed as to the progress of such contest, give Purchaser and its counsel the opportunity to review and comment to GP in advance on
written submissions, filings and proposed settlements that relate to such proposed adjustment, and consider in good faith any suggestions made by Purchaser or its counsel. GP agrees to administratively contest any adjustment proposed in a
partnership proceeding that, if sustained, would result in a Credit Discount Reimbursement and agrees to litigate such proposed disallowance (the particular court chosen being at the discretion of the GP) to the extent it cannot be administratively
settled on reasonable terms, unless the GP receives a reasoned opinion of recognized outside tax counsel of Seller that there does not exist a reasonable possibility of success with respect to such matter. GP also agrees to appeal any adverse court
decision unless Seller delivers to Purchaser a written reasoned opinion of recognized outside tax counsel of Seller to the effect that it is more likely than not that the appeal will not be successful. Purchaser shall reimburse Seller an amount
equal to ***** including, without limitation, reasonable legal, witness and accounting fees and expenses, and in the case of proceedings before the Court of Federal Claims or Federal District Court, the amount of tax for which refund is claimed, any
deposit related to such proceedings and any applicable interest, and in the case of appeal of a Tax Court decision, the cost of any bond filed pursuant to section 7485 of the Code or similar expense, payable within twenty (20) Business Days of
invoice including a detailed description of the amount set forth in the invoice. , To the extent that such proceedings are resolved unfavorably to the IRS, Seller shall repay to Purchaser such amount of tax, deposit, bond, or similar item, together
with any interest received with respect thereto. In no event shall Purchaser’s ultimate liability for interest under Section 5.1(e)(6) hereunder, but without regard to interest payable at the Overdue Rate, exceed that stated in
Section 5.1(e)(6)(ii), with reconciliation and any payment due as a result 

  
 20 

 
thereof by Seller to Purchaser to be made within twenty (20) Business Days of the Final Determination of a proposed adjustment. Notwithstanding the foregoing, the GP may settle any
disallowance or terminate any proceedings described in this paragraph in good faith, or consent thereto in good faith where the proposed adjustment is contested by the Initial Investor. 

(iv) During any period in which Purchaser is in default of its obligations under subparagraph 5.1(e)(6)(i) above for more
than thirty (30) days, Purchaser shall deposit the entire amount of any applicable Credit Discount to the escrow account established pursuant to the provisions of Article IX hereof, and the amount thereof shall be deposited with Escrow Agent
pursuant to the Escrow established under Article IX hereof, until Purchaser ceases to be in default of such obligations under subparagraph 6(i), whereupon the Escrow Agent, upon direction by Seller and Purchaser, shall disburse such amount, together
with the Net Earnings thereon to Purchaser. 
 (v) Payments required by Section 5.1(e)(6) shall be made by
electronic bank transfer in immediately available funds in accordance with instructions provided by Seller, and shall be made within ten business days of Seller’s notice to Purchaser of its liability hereunder. Seller’s notice of payment
due under this subsection will include an explanation of the events resulting in Purchaser’s obligation hereunder and a reasonably detailed computation of the amount of such obligation. Late payments will be subject to interest at the Overdue
Rate. 
 (f) Certain Revenues. As part of the monthly billing and invoicing procedures described herein in
Article VII, during the term of this Coke Purchase Agreement, operating costs for any one month period will be credited with the amount of *****. 
 5.2 Intention of the Parties. Unless otherwise specifically provided for in this Coke Purchase Agreement, the Parties acknowledge that it is their intention that Purchaser shall have the benefit of
the Credit Discount for the number of Tons of Coke purchased by the Purchaser but not exceeding the lesser of: 

(a) 1.22 Million Tons; 
 (b) or the number of Tons of Coke produced by the Coke Plant per Contract Year. 
 Notwithstanding
any other provision of this Coke Purchase Agreement, the intention of the Parties as stated herein shall be given effect hereunder. 

  
 21 

 ARTICLE VI 
 Delivery and Shipment 
 6.1 Equal Daily Deliveries.
Deliveries of Coke supplied under this Coke Purchase Agreement shall be in approximately equal daily increments during the relevant Contract Year period. It is expressly understood and agreed that the Coke delivered under this Coke Purchase
Agreement will, pursuant to Purchaser’s designation, be delivered to the conveyor belting leading to Purchaser’s No. 7 Blast Furnace, into railcars for subsequent delivery to Purchaser, at Purchaser’s instruction in accordance
with Article VIII hereof into a stockpile, or, at Purchaser’s cost, to any other location designated by Purchaser. 
 6.2
Weights. All deliveries of Coke from the Coke Plant will be weighed by Seller’s belt scales. These weights shall govern and shall be used by Seller in invoicing the Coke delivered hereunder from the Coke Plant. Such scales shall be
properly inspected and certified at intervals of not more than six (6) months. Following each inspection, a certification or record of certification shall be promptly forwarded to Purchaser, with a copy to Seller. 

6.3 Title and Risk of Loss. Title and all risk of loss, damage or destruction with respect to the Coke sold hereunder will pass to
Purchaser when such Coke has been delivered in accordance with Section 6.1 of this Coke Purchase Agreement. 
 ARTICLE VII

 Billing and Payment 
 7.1 Payment Terms and Invoicing. 
 (a) From the date of this
Agreement until December 31, 2007, on the fifteenth (15th) day of each month, Seller shall transmit to Purchaser a provisional invoice on a monthly basis for the amount due for the quantity of Coke purchased by the Purchaser during the
immediately preceding month and such amount shall be due and payable in immediately available funds on the first business day of the month following the month during which such provisional invoice is transmitted to Purchaser. Final adjustments to
the provisional invoice will be made on a final invoice delivered to Purchaser contemporaneously with the next month’s provisional invoice. Positive adjustments (in favor of Purchaser) will be credited to Purchaser’s account and deducted
from any amount due on the current provisional invoice. Negative adjustments (in favor of the Seller) will be payable in immediately available funds on the first business day of the month following the month in which such final adjustments have been
transmitted to Purchaser. 
 (b) On and after January 1, 2008, on the fifteenth (15th) day of each
month, Seller shall transmit to Purchaser a provisional invoice on a monthly basis for the amount due for the quantity of Coke 

  
 22 

 
purchased by the Purchaser during such month and such amount shall be due and payable in immediately available funds on the last business day of the month during which such provisional invoice is
transmitted to Purchaser. Final adjustments to the provisional invoice will be made on a final invoice delivered to Purchaser contemporaneously with the next month’s provisional invoice. Positive adjustments (in favor of the Seller) will be
payable in immediately available funds on the last business day of the month during which such final adjustments have been transmitted to Purchaser. 
 (c) All invoices shall be mailed to the following billing address for Purchaser: 
 Inland Steel Accounts Payable 
 P.O. Box 261249 

Plano, TX 75026-1249 
 FAX:              (972) 605-0122 
 Confirm:         (972) 605-0113 
 with a
copy to Inland Steel Company at the address for notices to Purchaser as set forth in the Notices provisions of Section 15.1 hereof. Interest shall accrue at the rate of prime plus ***** as quoted by Chase Manhattan Bank, New York (the
“Overdue Rate”) on any amounts payable by the Purchaser to the Seller pursuant to this Section 7.1 from the date such amount is determined to have been due through but excluding the date on which payment of such amount is made. Should
Purchaser fail to take the Minimum Coke Purchase Requirement for any monthly period, Purchaser shall nonetheless be obligated to pay the Contract Price for Purchaser’s Minimum Coke Purchase Requirement for such monthly period. 

7.2 No Set-Off. Unless an Event of Default on the part of the Seller is continuing, the payment by the Purchaser of amounts due
under this Agreement shall not be subject to any defense, counterclaim, recoupment, right of setoff or other condition of any nature whatsoever. 
 ARTICLE VIII 
 Stockpiled Coke 

8.1 Stockpiled Coke. In the event Purchaser is prevented from accepting shipments of Coke which it has purchased under this Coke
Purchase Agreement, Purchaser shall have the right, upon eight (8) hours prior notice to Seller, to instruct Seller to stockpile the Coke at the Coke Plant (the “Stockpiled Coke”) as a result of general business conditions or other
factors. Stockpiled Coke shall be rescreened and Purchaser and Seller shall cooperate in scheduling the shipment of Stockpiled Coke and production Coke in order to reduce the volume of 

  
 23 

 
Stockpiled Coke in an orderly manner throughout the term of this Coke Purchase Agreement. With respect to Stockpiled Coke, Purchaser will pay the Contract Price for such Coke as though the Coke
had been delivered to Purchaser for that month. Purchaser shall reimburse Seller for the actual costs incurred by Seller in connection with the handling of such Coke. The Parties hereby acknowledge and expect that some amount of Stockpiled Coke will
be lost as a matter of course, incidental to handling and transportation. Any such loss of Stockpiled Coke will be borne by the Purchaser. In reclaiming Stockpiled Coke, it is understood that there will be no guarantee of the specification regarding
moisture. Additionally, if such Stockpiled Coke is blended with freshly produced Coke, there will be no guarantee of the specification regarding moisture. 
 ARTICLE IX 
 Escrow Account for Credit Discount 

9.1 Establishment of Escrow Account. Pursuant to the terms and provisions of this Coke Purchase Agreement, Purchaser is entitled
to receive from Seller the Credit Discount described more particularly in Section 5.1(e) hereof. In order to induce Seller to enter into this Coke Purchase Agreement and as further security for the obligations of Purchaser under
Section 5.1(e)(6) hereof, Purchaser hereby agrees that it will tender payment to Seller in the amounts invoiced pursuant to Article VII of this Coke Purchase Agreement, such invoiced amounts to be calculated using the methodology set forth in
Article V giving effect to the provisions of Section 5.1(e) thereof regarding the Credit Discount. 
 During the first five
(5) calendar years following the availability of any Credit Discount, Purchaser will deposit an amount equal to ***** of the applicable Credit Discount, if any, into an escrow account established and maintained with a financial institution that
performs such services on a routine basis and is mutually acceptable to both Parties (the “Escrow Agent”). The Purchaser and Seller shall pay ***** all costs and fees in regard to this escrow, 

9.2 Purchaser’s Failure to Reimburse/Indemnify Seller. The Escrow Agent shall hold the escrowed funds in part as security for
the performance by Purchaser of its obligations to pay Seller any Credit Discount Reimbursement or other sums pursuant to Section 5.1(e)(6). 
 In the event of any failure of Purchaser to perform with regard to its obligations to reimburse or otherwise indemnify Seller pursuant to Section 5.1(e)(6) hereof the Escrow Agent, upon receipt of
appropriate written instructions pursuant to the Escrow Agreement, shall transfer to Seller the amount specified in such written instructions. To the extent that any escrow account balance is left following release of such amount to Seller, that
balance shall remain in the escrow account. If the funds in the escrow account are insufficient to cover the Purchaser’s liability with regard to such reimbursement or indemnification obligation, then Purchaser will remain liable to Seller for
any deficiency. 

  
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 9.3 Release of Escrow. In the absence of any failure of Purchaser to perform with
regard to its obligations to reimburse or otherwise indemnify Seller pursuant to Section 5.1(e)(6) hereof, and upon the first to occur of any of the following events, the escrow shall be released, and the Parties shall direct the Escrow Agent
to transfer to the Purchaser, all the principal amounts previously deposited into the escrow account under Section 9.1 hereof, together with all Net Earnings accrued thereon from the time of deposit: 

(a) five (5) years from the date the Partnership’s federal tax return is filed for the taxable year in which the
Initial Investment is made (the “Designated Year”); 
 (b) issuance of an examination report for the
Designated Year; 
 (c) executed Form 870-P (Agreement to Assessment and Collection of Deficiency and Tax for
Partnership Adjustments) for the Designated Year; 
 (d) issuance of a Notice of Final Partnership Administrative
Adjustment for the Designated Year; or 
 (e) expiration of the statute of limitations for assessments for the
Partnership for the Designated Year. 
 Notwithstanding the foregoing, escrowed amounts will not be released to the extent that
a Proposed Adjustment has been made for any Partnership taxable year that, if sustained, would result in a reduction in the dollar value of Section 29 Tax Credits that otherwise was allocated to the Initial Investor which reduction would give
rise to a reduction in the amount of the Credit Discount or a deposit to the escrow account pursuant to Section 5.1(e) hereof. 
 To the extent that such a Proposed Adjustment is not sustained in a Final Determination, escrowed funds will be released provided that if there is an outstanding Proposed Adjustment for any Partnership
taxable year that, if sustained, would result in a reduction in the dollar value of Section 29 Tax Credits that otherwise was allocated to the Initial Investor, escrowed funds will be retained in the escrow sufficient to cover Purchaser’s
obligations hereunder with respect to such outstanding Proposed Adjustment. 
 9.4 Escrow Agreement. The Parties agree
that any escrow account created in accordance with Section 9.1 hereof shall be established with, and managed by, the Escrow Agent, pursuant to an Escrow Agreement in form and content substantially similar to that attached hereto as Exhibit C.

 ARTICLE X 
 Events of Default 
 Each of the events described in Sections 10.1 through 10.4
(whether voluntary or involuntary or brought about or effected by operation of law or pursuant to or in compliance with any judgment, decree or order 

  
 25 

 
of any court or any order, rule or regulation of any administrative or governmental body) shall be an event of default (“Event of Default”) under this Coke Purchase Agreement:

 10.1 Purchaser’s Failure to Take or Pay. With respect to Purchaser, the failure of Purchaser to: 

(a) make any payment required of Purchaser under this Coke Purchase Agreement; or 

(b) take or otherwise physically accept delivery of Coke in accordance with this Coke Purchase Agreement, which failure is
not cured or remedied within five (5) days of written notice of same given by Seller; provided, however, that any failure of Purchaser described by this Section 10.1 shall not constitute an Event of Default if: 

(1) Purchaser has instituted corrective action within such five (5) day period that is reasonably likely to produce a
cure or remedy of such failure; and 
 (2) Purchaser diligently pursues such action until such failure is
corrected, cured or remedied, but in all events not more than thirty (30) days from the date of the written notice of such failure. 
 10.2 Seller’s Failure to Deliver. With respect to Seller, the unexcused failure of Seller to deliver Coke in accordance with this Coke Purchase Agreement, which failure has not been corrected,
cured, or remedied within five (5) days after written notice of such failure has been received by Seller; provided, however, that any failure of Seller described by this Section 10.2 shall not constitute an Event of Default if

 (a) Seller has instituted corrective action acceptable to Purchaser within such five (5) day period that
is reasonably likely to produce a cure or remedy of such failure; and 
 (b) Seller diligently pursues such
action until such failure is corrected, cured or remedied, but in all events not more than thirty (30) days from the date of the written notice of such failure. 
 10.3 Insolvency or Bankruptcy of Purchaser or Seller. If the Purchaser or Seller shall: 
 (a) apply for or consent to the appointment of, or the taking of possession by, a receiver, custodian, trustee or liquidator of itself or of all or a substantial part of its property; 

(b) make a general assignment for the benefit of its creditors; 

(c) commence a voluntary case under the Bankruptcy Code (as now or hereafter in effect); 

(d) file a petition seeking to take advantage of any other law relating to bankruptcy, insolvency, reorganization,
winding-up, or composition or readjustment of debts; 
 (e) take any action for the purpose of effecting any of
the foregoing; or 
 (f) be a party in a proceeding or case shall be commenced against Purchaser or Seller, as
the case may be, without the application or consent of the Purchaser or Seller, as the case may be, in any court of competent jurisdiction, seeking: 

  
 26 

 (1) its liquidation, reorganization, dissolution or winding-up, or the
composition or readjustment of its debts; 
 (2) the appointment of a trustees receiver, custodian, liquidator or
the like of Seller or Purchaser, as the case may be, of all or any substantial part of its assets; or 
 (3)
similar relief in respect of the Purchaser under any law relating to bankruptcy, insolvency, reorganization, winding-up, or composition or adjustment of debts, 
 and such proceeding or case shall continue undismissed, or an order, judgment or decree approving or ordering any of the foregoing shall be entered and continue unstayed and in effect, for a period of
sixty (60) or more days; or an order for relief against Seller or Purchaser, as the case may be, shall be entered in an involuntary case under the Bankruptcy Code; or 
 10.4 Failure to Perform Covenants, Etc. With respect to either Party, any breach in the due performance or observance of, or compliance with, any other agreement, covenant or provision hereof,
which breach has not been corrected, cured or remedied within sixty (60) days after written notice of such breach has been given to the breaching Party by the non-breaching Party. 

10.5 Termination for Breach. Except as otherwise provided herein, upon the occurrence of any Event of Default, that remains
uncured or uncorrected and unremedied for the respective periods described in Sections 10.1 through 10.4 hereof, this Coke Purchase Agreement may be terminated at the option of the non-defaulting Party immediately upon the giving of written notice
of termination to the Party in default. The ability of the non-breaching Party to terminate this Coke Purchase Agreement will be in addition to any other remedies such Party may otherwise be allowed by law, or under this Coke Purchase Agreement. No
such termination shall release either Party from any obligations that may have accrued with respect to this Coke Purchase Contract prior to such termination. 
 ARTICLE XI 
 Force Majeure 

11.1 Force Majeure. Neither Party will be responsible for any failure to perform, caused in whole or in part by unforeseeable
causes beyond the control and without the fault or negligence of the Party affected thereby, including: acts of God, acts of the public enemy, insurrections, riots, strikes, lockouts, labor disputes, labor or material shortages, floods,
interruptions to transportation, embargoes, acts of military authorities, or other causes of a similar nature which wholly or partly prevent the production, delivery or transportation of Coke by the Seller, or the receiving, accepting and/or
utilizing of the Coke by the Purchaser. The Party so prevented from complying will give prompt written notice to the other Party of the nature and probable duration of such Force Majeure, and of the extent of its affects on such party’s
performance hereunder; provided, however, that 

  
 27 

 
equipment failures of any kind caused primarily as a result of ordinary wear and tear or routine use over an extended period shall not be deemed an event of Force Majeure for purposes of this
Coke Purchase Agreement. 
 Each Party will, in the event it experiences a force majeure event, make all reasonable efforts to
remove such disability as soon as possible (except for labor disputes which will be solely within said Party’s discretion), and once the disability is removed this Coke Purchase Agreement will be reinstated. During any period of Force Majeure
related to Purchaser’s No. 7 Blast Furnace at its Indiana Harbor Works facility, Purchaser will use Coke from Seller’s Coke Plant to fulfill Purchaser’s Coke requirements to supply its other Indiana Harbor Works blast furnaces,
before using any other source of coke. During any period of Force Majeure relating to Seller’s Coke Plant, all production of Coke from the Coke Plant, up to Purchaser’s maximum take or pay obligation, will be supplied to Purchaser before
any Coke from Seller’s Coke Plant may be sold to third parties. 
 11.2 Special Excuse for Nonperformance by
Purchaser. Purchaser’s obligation to purchase the Coke produced by the Coke Plant will be further qualified by the need, during the term of this Coke Purchase Agreement, to reline Purchaser’s No. 7 Blast Furnace. In order to be
entitled to claim the benefit of this Section 11.2, Purchaser must furnish written notice to Seller at least one (1) year in advance of any contemplated relining of Purchaser’s Blast Furnace No. 7, and such written notice must
specify the probable duration of such relining. During the period necessary to complete the relining of Purchaser’s Blast Furnace No. 7, it being understood that such period shall in no event exceed five (5) months, Purchaser will use
its best efforts to utilize the Coke produced by the Coke Plant in Purchaser’s other blast furnaces. At least two weeks prior to the completion of any relining of Purchaser’s No. 7 Blast Furnace, Purchaser shall notify Seller in
writing as to Purchaser’s intended date of restart of operations at its No. 7 Blast Furnace, so that this Coke Purchase Agreement may be reinstated at the appropriate time. Purchaser will promptly inform Seller in writing in the
event of any changes reasonably likely to delay Purchaser’s intended date of restart of operations at its No. 7 Blast Furnace by more than five (5) days. 
 11.3 Major Fire or Explosion. Immediately following any major fire or explosion that Purchaser reasonably believes will render it wholly incapable of receiving, accepting and/or utilizing Coke at
Purchaser’s No. 7 Blast Furnace for a period of at least thirty (30) days duration, Purchaser will furnish Seller with a written notice containing a description of such fire or explosion, together with Purchaser’s reasonable good
faith estimate of the duration of its inability to accept or utilize Coke at Purchaser’s No. 7 Blast Furnace. In such written notice to Seller, Purchaser may elect to reduce the Minimum Coke Purchase Requirement by up to one-third
(1/3) during the period that Purchaser is wholly incapable of receiving, accepting and/or utilizing Coke at 

  
 28 

 
Purchaser’s No. 7 Blast Furnace and the additional period referred to in Section 11.3(e) (these two periods together being the “Fire/Explosion Period”). During the
Fire/Explosion Period: 
 (a) Production of Coke from the Coke Plant shall be set at a level to include:

 (1) the reduced Minimum Purchase Requirement requested by Purchaser pursuant to this Section 11.3;

 (2) Seller’s pre-existing sales contract amounts; 

(3) additional amounts requested by Seller, to the extent such additional amounts are approved by Purchaser;

 (b) Purchaser will accept delivery of the reduced Tonnages of Coke it has agreed to take during the
Fire/Explosion Period and Purchaser may elect to have Seller resell such purchased Coke to others on Purchaser’s behalf in accordance with Section 3.1(e) of this Agreement; 

(c) Purchaser will pay to Seller an amount equal to the product of the Return on Capital Component of the Contract Price,
multiplied by the difference between: the Minimum Coke Purchase Requirement (calculated on a daily basis and unadjusted by this Section l.3) and the actual level of Coke Plant production during the Fire/Explosion Period; 

(d) Purchaser will continue to receive any Credit Discount available with regard to the Tonnages of Coke actually
purchased and accepted by Purchaser under this Section 11.3; and 
 (e) Purchaser shall notify Seller in
writing as to Purchaser’s intended date of restart of operations at its No. 7 Blast Furnace and, at Purchaser’s election, Purchaser may continue to take Coke at the reduced level for so long as is necessary for Purchaser to utilize
stockpiles of Coke accumulated solely as a result of any major fire or explosion described by this Section 11.3. During any such period of continued reduced taking of Coke by Purchaser, Seller will continue to collect from Purchaser the amount
described by Section 11.3(c). 
 ARTICLE XII 
 Arbitration 
 12.1 Interpretation and Dispute Resolution. 

(a) Any claim or controversy between the parties hereto arising out of or relating to this Agreement or the breach thereof
shall be settled by arbitration in Chicago pursuant to the terms of the United States Arbitration Act, or failing federal jurisdiction, the law of the State of Illinois excluding choice of law rules; 

(b) The Parties shall attempt to agree on the selection of an arbitrator within forty-five (45) days from receipt of
notice of intent to arbitrate. If the Parties cannot agree on an arbitrator then 

  
 29 

 
either Party may move to have the arbitrator appointed by the United States District Court for the Northern District of Illinois or, failing federal jurisdiction, by the Circuit Court of Cook
County. Time shall be of the essence in nomination of the arbitrator. 
 (c) The arbitration award by the
arbitrator shall be final and binding, and may include costs, including reasonable attorney’s fees. The Parties hereby submit themselves to the jurisdiction of the United States District Court for the Northern District of Illinois and the
Circuit Court of Cook County for all matters relating to any arbitration hereunder. These Courts as well as any other court of competent jurisdiction, shall have jurisdiction with respect to the enforcement of any arbitrable award and all other
matters relating to any arbitration hereunder. 
 (d) Any arbitration hereunder shall be conducted in accordance
with the rules of the American Arbitration Association, unless otherwise agreed by the Parties hereto. 
 (e)
Upon settlement of a dispute or arbitration award, if it is determined that an amount is due from one Party to the other, then such amount will promptly be paid to the Party to whom it is due in addition to interest on any such amount accrued form
the date such amount is determined to have been due through but excluding the date on which payment of such amount is made, at the Overdue Rate, as of the date such amount is determined to have been due. 

ARTICLE XIII 

Warranties 
 13. Title.
Seller warrants that at the time of delivery of the Coke, Seller shall have good title and full right and authority to transfer such Coke to Purchaser and that the title conveyed shall be good and its transfer shall be rightful and that such Coke
shall be delivered free from any security interest or other lien or encumbrance 
 13.1 Quality. Seller warrants that the
Coke purchased by Purchaser hereunder shall conform to the coke quality specifications set forth in Schedule 4.1. 
 13.2
Limitation of Warranties. THE FOREGOING WARRANTIES IN THIS ARTICLE XIII ARE EXCLUSIVE AND ARE IN LIEU OF ALL OTHER WARRANTIES, WHETHER WRITTEN OR ORAL, OR IMPLIED OR IN FACT OR IN LAW, AND WHETHER BASED ON STATUTE, CONTRACT, TORT, STRICT
LIABILITY OR OTHERWISE. THE WARRANTY OF MERCHANTABILITY AND WARRANTY OF FITNESS FOR PARTICULAR PURPOSE ARE EXPRESSLY EXCLUDED AND DISCLAIMED. WITH RESPECT TO THE COKE, PURCHASER’S EXCLUSIVE REMEDY FOR BREACH OF THE WARRANTIES SHALL BE LIMITED
TO A REFUND 

  
 30 

 
OF THE PURCHASE PRICE OR REPLACEMENT OF ALL NONCONFORMING COKE SHOWN TO BE OTHERWISE THAN AS WARRANTED OR DEFICIENT IN QUALITY. 

13.3 Suitability. The determination of suitability of the Coke for the use contemplated by Purchaser is the sole responsibility of
the Purchaser, and Seller shall have no responsibility in connection therewith. 
 ARTICLE XIV 

Conditions Precedent; Early Termination 
 14.1 Conditions Precedent. The respective obligations of each of the Purchaser and the Seller under this Coke Purchase Agreement are subject to the satisfaction of the following conditions (any or
all of which may be waived, subject to applicable law) on or before November 12, 1996: 
 (a) All
appropriate action, corporate and otherwise, necessary to authorize and approve the transactions contemplated by this Coke Purchase Agreement shall have been taken by each Party and/or such Party’s parent corporation, and each Party hereby
represents that none of the actions contemplated by the Coke Purchase Agreement will violate the relevant provisions of such Party’s charter documents, bylaws, or any resolutions of such Party’s board of directors. 

(b) The Parties shall have performed in all material respects all obligations contained in this Coke Purchase Agreement to
be performed or complied with by each of the Parties respectively prior to execution hereof. 
 (c) No federal or
state court of competent jurisdiction or any governmental authority or agency shall have enacted or issued a law, rule, regulation, order, decree or ruling, or taken any other action which, in the reasonable opinion of respective counsel to each
Party, restrains, enjoins or otherwise prohibits any of the actions contemplated hereby. 
 (d) a Site Lease, by
and between Purchaser and Seller pertaining to the real property on which the Coke Plant will be located containing provisions requiring Seller’s leasehold interest to convert to a fee simple ownership in the event of an uncured Event of
Default, with appropriate terms permitting Purchaser to repurchase the such real property in the event that Seller should subsequently abandon the Coke Plant; 
 (e) an Environmental Indemnity Agreement, in form and substance mutually acceptable to the parties by and among Seller, Purchaser and Cokenergy; 

(f) a Cooperation Agreement, in form and substance mutually acceptable to the parties by and among Purchaser, Seller and
Cokenergy; 
 (g) a Confidentiality Agreement, in form and substance mutually acceptable to the parties by and
among Purchaser, Seller and Cokenergy; 

  
 31 

 (h) a Guaranty Agreement from Inland Steel Industries, in substantially the
form attached hereto as Exhibit A-1 and a Guaranty Agreement from Sun Company, Inc. in the form attached hereto as Exhibit A-2; 
 (i) a Guaranty Agreement from Elk River Resources, Inc. in substantially the form attached hereto as Exhibit B; 
 (j) a letter agreement between Seller and Purchaser relating to the provision of certain non-management employees of Purchaser to Seller; 

(k) Schedules 4.4 (c), (d) and (e); 

(l) The following agreements, contracts or letters of understanding shall be executed and delivered prior to or
contemporaneously with this Coke Purchase Agreement: 
 (1) an Access, Operating and Fuel Supply and Processing
Agreement by and between Seller and Cokenergy, Inc., an Indiana corporation, pertaining to the operation of an energy facility to be constructed adjacent to the Coke Plant; 

(2) an Engineering, Procurement and Construction Contract between Seller, and Raytheon Engineers & Constructors,
Inc., a Delaware corporation (“Raytheon”), for the construction of the Coke Plant; 
 (3) a Tolling
Agreement between Purchaser and Cokenergy; 
 14.2 Mutual Undertakings. Each Party agrees to use its best efforts to
negotiate, execute and deliver, or to cause to be executed and delivered, the agreements and instruments listed herein in Sections 14.1 (a) through (1) on or prior to November 12, 1996. 

14.3 Early Termination. The Parties each hereby acknowledge that Seller is proceeding on an interim basis specifically to pursue
the site work necessary to evaluate the deep dynamic compaction technique for construction of the Coke Plant. The Parties do not anticipate that the testing necessary to such an evaluation will be completed prior to November 12, 1996. In the
event that either Purchaser or Seller determines that it is no longer feasible to proceed with the construction of the Coke Plant, or in the event that 
 (a) any condition set forth in Sections 14.1 (a) through (1) has not been satisfied; 
 (b) either Purchaser or Cokenergy shall exercise their rights to terminate their Tolling Agreement on or before November 12, 1996; 

(c) either Seller or Raytheon shall exercise their rights to terminate their Engineering, Procurement and Construction
Contract on or before November 12, 1996, or 
 (d) either Seller or Cokenergy shall exercise their rights to
terminate their Access, Operating and Fuel Supply and Processing Agreement, on or before November 12, 1996, 

  
 32 

 then either Party, upon prior notification to the other Party, may terminate this Coke Purchase Agreement on
or before November 12, 1996, without any further obligation to such other Party; provided, however, that Purchaser will promptly reimburse Seller for any and all costs and fees actually incurred by Seller on or before November 12,
1996 (including, but not limited to, scheduled payments made pursuant to any agreement for the construction of the Coke Plant, cancellation fees, and/or payments made to vendors for construction materials and otherwise) in excess of *****;
further, provided, Seller shall pay ***** and Purchaser shall pay ***** of such costs and fees up to an aggregate amount of *****, all of the foregoing in this subsection (d) being capped at $*****. 

14.4 Environmental Permit. In the event that the Indiana Department of Environmental Management shall not have issued the relevant
permit or permits on or before December 30, 1996 necessary for the construction and/or operation of each of: 
 (a) the Coke Plant, and 
 (b) any facility constructed by Cokenergy
in connection with the obligations of Cokenergy under that certain Tolling Agreement, dated of even date herewith, between Purchaser and Cokenergy, 
 on terms and conditions satisfactory to Seller, or Purchaser shall have determined in its discretion that such permit or permits will not be issued by December 30, 1996 and notified Seller thereof in
writing; then neither Seller nor Purchaser shall have any further obligation under this Coke Purchase Agreement, this Coke Purchase Agreement shall terminate and be of no further force and effect, and Purchaser will promptly reimburse Seller for any
and all costs and fees actually incurred by Seller on or before the date of such termination; it being understood that if this Coke Purchase Agreement is terminated pursuant to this Section 14.4 after November 12, 1996 and on or before
December 20, 1996, the amount due Seller by Purchaser will be $*****; if this Coke Purchase Agreement is terminated pursuant to this Section 4.4 after December 20, 1996, the amount due Seller by Purchaser shall be equal to the amount
necessary for Seller to fulfill its obligation to reimburse Raytheon for the following: 
 (1) all work performed
by Raytheon on or before December 30, 1996, pursuant to its Engineering, Procurement and Construction Contract with Seller; 
 (2) cancellation fees payable by Raytheon to vendors as a result of the termination of the Engineering, Procurement and Construction Contract after December 20, 1996 and on or before
December 30, 1996; and 
 (3) a management fee equal to ***** of the sum of the amounts in (1) and
(2) above. 
 On or before November 12, 1996, Seller will provide Purchaser with the calculation of such amount. 

  
 33 

 ARTICLE XV 
 Miscellaneous 
 15.1 No Violation; Collective Bargaining Agreements.
Purchaser and Seller each warrant that this Coke Purchase Agreement is not inconsistent with any existing respective legal or contractual obligations of such Party, Purchaser or Seller including, without limitation, any court orders,
administrative agency orders or arbitration awards, any agreements between such Party and that Party’s employees or third parties, including any collective bargaining agreement(s) by which such Party may be bound. Purchaser and Seller each
expressly represent and warrant that it is not a responsible party to any collective bargaining agreement that would, if complied with by it or if sought to be enforced by another party, prevent Seller from realizing the benefits of this Coke
Purchase Agreement or prevent Seller from exercising operational control of the Coke Plant to the fullest extent possible under the terms of this Coke Purchase Agreement. Purchaser shall not enter into any collective bargaining agreements or other
agreements addressed directly or indirectly to the operation of the Coke Plant, or which would have a consequential impact on the operation of the Coke Plant, adverse to the interests of Seller under this Coke Purchase Agreement. 

15.2 Notices. All notices, requests and demands to or upon the respective parties hereto to be effective shall be in writing, by
facsimile, by overnight courier or by registered or certified mail, postage prepaid and return receipt requested, and shall be deemed to have been duly given or made upon: 

(a) delivery by hand; 
 (b) one business day after being sent by overnight courier; 
 (c)
four business days after being deposited in the United States mail, postage prepaid; or 
 (d) in the case of
transmission by facsimile, when confirmation of receipt is obtained. Such communications shall be addressed and directed to the Parties listed below (except where this Coke Purchase Agreement expressly provides that it be directed to another) as
follows, or to such other address or recipient for a Party as may be hereafter notified by such Party hereunder: 
  

			
	 If to Seller to:
 INDIANA
HARBOR COKE COMPANY, L.P.
 Landmark Center, Suite N-300
 1111 Northshore Drive
 P.O. Box 10388
 Knoxville, TN 37939-0388
 Attn: Dale Walker
 FAX: (423) 558-3280
 Confirm: (423) 558-0300
	  	 If to Purchaser, to:
 INLAND
STEEL COMPANY
 3210 East Watling Street

East Chicago, IN 46312
 Attn: Michael
Tarkoff
 Mail Code 8-160
  

FAX: (219) 399-5429
 Confirm: (219)
399-5305

 15.3 No Special Damages; Governing Law. NEITHER SELLER NOR PURCHASER NOR ANY OF THEIR
RESPECTIVE AFFILIATES SHALL BE LIABLE FOR ANY SPECIAL, INCIDENTAL, 

  
 34 

 
CONSEQUENTIAL OR EXEMPLARY DAMAGES FOR BREACH OF ANY WARRANTY OR OTHERWISE. NOTHING HEREIN SHALL LIMIT EITHER PURCHASER’S LIABILITY TO SELLER TO TAKE AND PAY FOR COKE DELIVERED IN ACCORDANCE
WITH THIS COKE PURCHASE AGREEMENT, OR SELLER’S OBLIGATION TO PURCHASER TO DELIVER COKE IN ACCORDANCE WITH THIS COKE PURCHASE AGREEMENT. THIS COKE PURCHASE AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY, THE LAWS OF THE STATE OF
INDIANA WITHOUT REGARD TO ITS CONFLICTS OF LAW PROVISIONS, AND THE RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER WILL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS. 
 15.4 Counterparts. This Coke Purchase Agreement may be executed in any number of counterparts and by the different Parties hereto on separate counterparts, each of which when so executed and
delivered shall be an original, but all of which shall together constitute one and the same instrument. A complete set of counterparts shall be lodged with Sun Coal Company. 
 15.5 Severability. If any provision hereof is found by a court of competent jurisdiction to be prohibited or unenforceable, it shall, as to such jurisdiction, be ineffective only to the extent of
such prohibition or unenforceability, and such prohibition or unenforceability shall not invalidate the balance of such provision to the extent it is not prohibited or unenforceable, nor invalidate the other provisions hereof. 

15.6 Entire Agreement. This Coke Purchase Agreement constitutes the entire agreement and supersedes any and all other agreements,
oral or written, between the Parties hereto, in respect of the subject matter of this Coke Purchase Agreement and embodies the entire understanding of the Parties with respect to the subject matter hereof. 

15.7 Captions. The captions at the beginning of each of the numbered Sections and Articles herein are for reference purposes only
and will have no legal force or effect. Such captions will not be considered a part of this Agreement for purposes of interpreting, construing or applying this Agreement and will not define, limit, extend, explain or describe the scope or extent of
this Agreement or any of its terms and conditions. 
 15.8 Amendment. This Coke Purchase Agreement shall not be amended
or modified except by an instrument in writing executed by both Parties to this Coke Purchase Agreement as of the effective date of such amendment. 
 15.9 Independent Contractors. This Coke Purchase Agreement shall not constitute either Party the partner, legal representative or agent of the other, nor shall either Party have the right or
authority to assume, create or incur any liability or any obligation of any kind implied, against or in the name or on behalf of the other. 

  
 35 

 15.10 Waivers and Remedies. The failure of either Party to insist in any one or more
instances upon strict performance of any of the provisions of this Agreement or to take advantage of any of its rights hereunder shall not be construed as a waiver of any such provisions or the relinquishment of any such rights, but the same shall
continue and remain in full force and effect. Except as otherwise expressly limited in this Coke Purchase Agreement, all remedies under this Coke Purchase Agreement shall be cumulative and in addition to every other remedy provided for herein or by
law. 
 15.11 Confidentiality. The Purchaser and Seller and their respective Affiliates, officers, directors, employees
and agents shall hold in confidence and not disclose any Confidential Information. 
 15.12 Essence of Time. Time is of
the essence in this Coke Purchase Agreement an in each and all of the provisions hereof, but the time for any act or performance required hereunder may be extended by written mutual agreement of the Parties or by a written waiver by the Party to
which such act or performance is promised. 
 15.13 Assignability. Neither Purchaser or Seller shall, without prior
written consent of the other first had and obtained, assign any of its rights or obligations under this Coke Purchase Agreement. 
 15.14 Audit of Records. Purchaser and Seller or their auditing representatives may, upon at least forty-eight (48) hours’ prior written notice and during normal working hours, audit the
others records relating to weights, volumes, and quality, of Coke, and prices of coal purchased by Seller, and to verify any and all amounts paid or payable by Purchaser to Seller or by Seller to Purchaser under this Coke Purchase Agreement
(including matters set forth in Article V). 
 [COUNTERPART SIGNATURE PAGES FOLLOW] 

  
 36 

 IN WITNESS WHEREOF, the parties hereto have caused this Coke Purchase Agreement to be
executed by their respective duly authorized officers, as of the date first above written. 
  

							
		 	INDIANA HARBOR COKE COMPANY, L.P.
		 		 	By:	 	        Indiana Harbor Coke Company
		 		 		 	        General Partner
				
		 		 	By:	 	 /s/ Barry H. Rosenberg

		 		 		 	Name: Barry H. Rosenberg
		 		 		 	Title:   Vice President
			
		 		 	INLAND STEEL COMPANY
				
		 		 	By:	 	 /s/ Cynthia C. Heath

		 		 		 	Name:   C.C. Heath
		 		 		 	Title:     VP – Finance

  
 37 

 Schedule 4.1 to the Coke Purchase Agreement 

Coke Quality Specifications 
  

																									
	 	  	 PRICE
INCREASE
 RANGE
	 	  	MINIMUM
VALUE	 	  	AVERAGE	 	  	MAXIMUM
VALUE	 	  	PRICE
DECREASE
RANGE	 	  	REJECT
VALUE	 
	 Ash - Dry Basis*(%)
	  	 	*****	  	  	 	*****	  	  	 	*****	  	  	 	*****	  	  	 	*****	  	  	 	*****	  
							
	 Stability - Index*
	  	 	*****	  	  	 	*****	  	  	 	*****	  	  	 	*****	  	  	 	*****	  	  	 	*****	  
	 Mean Size (mm)
	  	 	*****	  	  	 	*****	  	  	 	*****	  	  	 	*****	  	  	 	*****	  	  	 	*****	  
	 Moisture (k)
	  	 	*****	  	  	 	*****	  	  	 	*****	  	  	 	*****	  	  	 	*****	  	  	 	*****	  
	 Alkalies*(%)
	  	 	*****	  	  	 	*****	  	  	 	*****	  	  	 	*****	  	  	 	*****	  	  	 	*****	  
	 Phosphorus*(%)
	  	 	*****	  	  	 	*****	  	  	 	*****	  	  	 	*****	  	  	 	*****	  	  	 	*****	  
	 Sulfur - Dry Basis*(%) 0.61
	  	 	*****	  	  	 	*****	  	  	 	*****	  	  	 	*****	  	  	 	*****	  	  	 	*****	  
	 CSR - Index*
	  	 	*****	  	  	 	*****	  	  	 	*****	  	  	 	*****	  	  	 	*****	  	  	 	*****	  
	 Size < ***** (%)
	  	 	*****	  	  	 	*****	  	  	 	*****	  	  	 	*****	  	  	 	*****	  	  	 	*****	  
	 Size > ***** (%)
	  	 	*****	  	  	 	*****	  	  	 	*****	  	  	 	*****	  	  	 	*****	  	  	 	*****	  
	 Volatile Matter (%)
	  	 	*****	  	  	 	*****	  	  	 	*****	  	  	 	*****	  	  	 	*****	  	  	 	*****	  
	 Bulk Density (lb/ft3 )
	  	 	*****	  	  	 	*****	  	  	 	*****	  	  	 	*****	  	  	 	*****	  	  	 	*****	  

  

	*	coal blend related 

 The quality requirements
may be revised so long as the requirements remain within the capability of the Coke Plant and are mutually agreed upon by Seller and Purchaser. The size specifications indicated above (*****) are Purchaser’s current specifications for its
No. 7 Blast Furnace. It is the intent of the Parties to adjust these size specifications prior to the beginning of the Initial Term based on the capability of the Coke Plant and Purchaser’s requirements reflected above. Until those
adjustments are made (but no later than the beginning of the Initial Term), no size premiums or penalties will be accrued. 

  
 38 

 Schedule 4.4(c) to the Coke Purchase Agreement 

Monthly Coke Quality Report Format 
 [Form not attached to executed contract] 

  
 39 

 Schedule 4.4(d) to the Coke Purchase Agreement 

Off-Spec Coke Quality Report Format 
 [Form not attached to executed contract] 

  
 40 

 Schedule 4.4(e) to the Coke Purchase Agreement 

Coke Quality SPP Report Format 
 [Form not attached to executed contract] 

  
 41 

 Schedule 4.7 to the Coke Purchase Agreement 

Coke Quality Price Adjustments 
  

					
	 PARAMETER
	  	 PRICE INCREASE FACTOR
	  	 PRICE DECREASE FACTOR

	CSR	  	Not Applicable	  	 If CSR less than *****

Price    *****
 Ex:
*****
 *****

			
	MOISTURE	  	 If Moisture under *****

Price    *****Ex: *****
	  	 If Moisture over *****

Price    *****
 Ex:
*****

			
	SULFUR	  	 If Sulfur under *****

Price    *****Ex: *****
	  	*****Price        *****Ex: *****
			
	ASH	  	 If Ash *****

Price    *****)
 Ex:
*****
	  	 If Ash over *****

Price    *****
 Ex:
*****

			
	STABILITY	  	 If Stability over *****

Price    *****
 Ex:
*****
 *****
	  	 If Stability under *****

Price    *****
 Ex:
*****        *****

			
	PHOSPHORUS	  	 If Phosphorus under *****

Price    *****
 Ex:
Phosphorus = *****
	  	 If Phosphorus over ***** Price    *****
 Ex: *****

			
	MEAN SIZE	  	 If Mean Size over *****

Price    *****
 Ex:
*****
	  	If Mean Size under *****Price    *****Ex: *****
			
	SIZE <*****”	  	 If Size % <*****Price    *****
 Ex: Size % *****
	  	 If Size % <*****

Price    *****

EX:      *****

*****

 Note: For purposes of
the examples in the above Schedule 4.7, NT equals the per Ton coke quality price adjustment for the applicable parameter. 

  
 42 

 Schedule 5.1(c) to Coke Purchase Agreement 

COMPUTER MODEL 
 Used to Calculate 
 Return on Capital Component of Contract Price

 ***** 

  
 43 

 Schedule 5.1(e) to Coke Purchase Agreement 

Calculation of Section 29 Tax Credit Discount to Contract Price 

1. Computer Model: the Credit Discount will equal the lesser of *****per Ton, or an amount determined by the Computer Model incorporated
herein by this reference. [The Computer Model will be used to calculate a discount amount per Ton (based on a maximum of 1.22 Million Tons of screened Coke plus an additional ***** tons of nut coke and breeze for any twelve (12) month period
commencing on or after Initial Full Production) during the Discount Period which will give the Partners an internal rate of return equal to the internal rate of return calculated without the Initial Investment plus ***** of the increase in the
internal rate of return calculated with the Initial Investment and no discount. 
 2. Definitions: The definitions contained in
the Coke Purchase Agreement are incorporated in the Computer Model unless the context indicates otherwise. As used in the Computer Model, the following terms shall have the meanings set forth below. In the event of a conflict between a definition in
the Coke Purchase Agreement and that in this Schedule, this Schedule will govern for purposes of the Computer Model. 
 Base
Case 
 “Project Cost” shall mean for purposes of Section 5.1(c) the Total Coke Plant Capital Cost and for purposes of
Section 5.1(e) the Total Coke Plant Capital Cost determined without regard to the cap. 
 “Sun Investment” shall mean the Project
Cost. 
 “Project End Date” shall mean December 31, 2019. 
 “Terminal Value” shall mean $*****. 
 “Sun Fed/St. AMT” shall mean *****.

 “Debt” shall equal *****. 

“Tons Coke Sold/Yr” shall mean 1.22 million tons but in 1998 tons sold shall equal Sun’s good faith projection of 1998 tons sold as
projected in the third full month following Initial Full Production. 
 “SG&A Expense” shall be *****. 

  
 44 

 “Capex” shall mean the projected future capital expenditures as indicated in the Computer Model on
the date of this Agreement. 
 “Tax Depreciation” shall be the applicable AMT depreciation schedule for the Coke Plant. 

“Excess Production (Tons) and Excess Production Discount” shall equal *****. 
 “Section 29 Credits” shall mean *****. 
 “Venture’s Pre-Tax Operating Cash
Flow” shall mean *****. 
 “Start Up Date” shall mean the date on which the Coke Plant commences the production of Coke.

 Partnership Cases 
 “Project Cost” shall mean the Total Coke Plant Capital Cost determined without reference to the cap. 
 “Partner Investment” shall mean the amount of the Initial Investor’s investment in Seller. 
 “Sun Investment” shall mean the difference between Project Cost and Partner Investment. 

“Debt” shall equal *****. 

“Partner’s % Return” shall mean the after-tax discount factor used in determining when Investor’s sharing percentage is reduced
(“flips”). 
 “Flip 1 %” shall mean the Investor’s initial share in the proceeds from the production and sale of coke
from the Coke Facility and tax credits. 
 “Flip 1 Date” shall mean the date on which it is projected that the Investor’s
after-tax internal rate of return equals the Partner’s % Return. The Flip 1 Date will differ between the zero discount case and the final discount case. 

  
 45 

 “Partner’s Funding” shall mean the date on which the Investor makes an investment in Seller.

 “Project End Date” shall mean December 31, 2019. 
 “Terminal Value” shall mean $*****. 
 “Flip2 %” shall mean the Investor’s
percentage share in the proceeds from the production and sale of coke from the Coke Facility in the third sharing phase, that is, after the Flip2 Date. 
 “Flip2 Date” shall mean the date on which the third sharing phase for the Investor commences. 
 “NFC: Qualifying Ovens” shall mean the percentage of ovens in the Coke Plant that qualifies under Section 29(g)(1) and (2) of the Code. 

“Tons Coke Sold/Yr.” shall mean 1.22 million tons. 
 “Discount ($/Ton)” shall mean zero in the zero discount case. In the final discount case the discount shall be the amount determined by this model which will give the Partners an internal rate
of return equal to the internal rate of return calculated without the Initial Investment (Base Case) plus ***** of the increase in the internal rate of return calculated with the Initial Investment and no discount, or $***** if less. 

“Ownership Component” shall mean the after-tax cash flow per ton that will provide the Partners with an internal rate of return of 16%.

 “JV’s Fed/St. Tax” shall mean the tax rate used in calculating the Investor’s after-tax return. 

“Sun Fed/St. AMT” shall mean ***** percent. 
 “Base Case IRR” shall mean Sun’s IRR determined in the Base Case. 

“Capex” shall mean the projected future capital expenditures as indicated in the Computer Model on the date of this Agreement. 

  
 46 

 “Tax Depreciation (AMT and Reg)” shall be determined by the depreciation schedules applicable to
the Coke Plant on the third full month following Initial Full Production. 
 “Excess Production (Tons) and Excess Production Discount”
shall equal *****. 
 Projected Generation of Section 29 Tax Credits 

“Tax Cr. Per BB/OIL” shall mean the tax credit available under Section 29 per barrel-of-oil equivalent based on actual amounts where
available and based on an assumed *****% annual GDP Deflator where forecasted amounts are used. 
 “Equivalent Bbls of Oil/Ton of
Coke” shall mean *****. 
 “Coke Sales” shall mean ***** tons for 1999 and thereafter, but in 1998 tons sold shall equal
Sun’s good faith projection of 1998 tons produced by the Coke Plant and sold (including breeze and nut coke) as projected in the third full month following Initial Full Production or the date of Initial Investment if later. 

“Qualifying Ovens (%)” shall mean the percentage of ovens of the Coke Plant that are described in section 29(g)(1) and (2) of the Code.

 3. The “coal cost/ton of coke”, “coke price/ton”, “cash op. cost/ton”, and “breeze
credit/ton” are shown for illustrative purposes only with such amounts being determined pursuant to the terms of Section 5.1 of the Coke Purchase Agreement. 
 4. Example: Included in this Schedule 5.1(e) is an example of computer runs used to compute the Credit Discount. 

  
 47 

 EXHIBIT A-1 
 to 
 Coke Purchase Agreement 

FORM OF INLAND STEEL INDUSTRIES GUARANTY 
 GUARANTY AGREEMENT 
 FOR VALUABLE CONSIDERATION, this Guaranty Agreement
dated as of             , 19    , is made and entered into by and between Inland Steel Industries, a
                     corporation (“Guarantor”), and Indiana Harbor Coke Company, L.P., a Delaware limited partnership qualified to
do business in Indiana (“Seller”). 
 WITNESSETH 

WHEREAS, Inland Steel Company (“Purchaser”), which is a wholly owned subsidiary of the Guarantor, and Seller have entered into
a Coke Purchase Agreement, dated as of             , 19     (the “Coke Purchase Agreement”) pursuant to which Purchaser has agreed to purchase
and accept from Seller on a take-or-pay basis, and Seller has agreed to sell and deliver, approximately 1.22 Million Tons per year of screened furnace coke, to be produced by a cokemaking facility to be constructed by Seller on a site leased by
Seller from Purchaser; 
 WHEREAS, the purpose of the Coke Purchase Agreement is to provide an assured source of coke to supply
the coke requirements of Purchaser’s No. 7 Blast Furnace; and 
 WHEREAS, the performance of Seller under the Coke
Purchase Agreement is conditioned upon, among other things, the execution and delivery by the Guarantor of this Guaranty. 

NOW, THEREFORE, the parties hereto, intending to be legally bound hereby, agree as follows: 

1. Definitions. Capitalized terms not otherwise defined herein shall have the meaning provided for in the Coke Purchase Agreement,
and the relevant exhibits and schedules attached thereto. 
 2. Guarantee. Subject to the terms of this Guaranty, the
Guarantor hereby unconditionally and irrevocably guarantees to Seller the specific performance by, and obligations of: 
  

	 	(a)	The Purchaser, under each of: 

  

	 	(i)	Section 5.1(e) of the Coke Purchase Agreement; 

  

	 	(ii)	and the Environmental Indemnity Agreement. 

 3. Maximum Liability of Guarantor. The maximum liability of the Guarantor under this Guaranty shall be unlimited in Dollar amount. Any payments that shall become due from Guarantor shall be made in
any coin or money that is legal tender in the U.S. at the time of payment. 
 4. Payment of Claims. Guarantor shall be
given a copy of each written notice including, without limitation, any demand for payment or performance, to be sent by Seller to Purchaser, with regard to the respective obligations of Purchaser under Section 5.1(e) of the Coke Purchase
Agreement and the Environmental Indemnity Agreement. The Guarantor’s obligations under this Guaranty shall become due, payable and performable on the tenth (10th) business day following the receipt of such notice by the Guarantor, if
Purchaser or 

  
 48 

 
any affiliate of Purchaser has not paid or performed its obligations under the pertinent agreement or agreements by such date; provided, however, that if, prior to receipt of such notice,
either Seller or Purchaser have commenced dispute resolution under Article XII (“Arbitration”) of the Coke Purchase Agreement, Guarantor’s obligations hereunder shall be deferred until final resolution of the dispute. Following such
final resolution, Guarantor shall be obligated to perform under this Guaranty to the extent that Purchaser is determined to be obligated to perform under the Coke Purchase Agreement and to the extent Purchaser has not performed within ten
(10) days of such resolution. 
 5. Representations and Warranties. The Guarantor hereby represents and warrants
that 
 (a) it is a corporation duly organized, validly existing and in good standing under the dews of Delaware, and has the
corporate power and authority and the legal right to own and operate its property, to lease the property it operates and to conduct the business in which it is currently engaged; 

(b) it has the corporate power and authority and the legal right to execute and deliver, and to perform its obligations under, this
Guaranty, and has taken all necessary corporate action to authorize its execution, delivery and performance of this Guaranty; 

(c) this Guaranty constitutes a legal, valid and binding obligation of the Guarantor enforceable in accordance with its terms, except as
enforceability may be limited by bankruptcy, insolvency, reorganization, moratorium or similar laws affecting the enforcement of creditors’ rights generally and by general principles of equity or by an implied covenant of good faith and fair
dealing (whether enforced at law or in equity); 
 (d) the execution, delivery and performance of this Guaranty will not violate
any provision of any applicable law or any contractual obligation of the Guarantor and will not result in or require the creation or imposition of any lien on any of the properties or revenues of the Guarantor; and 

(e) no consent or authorization of, filing with, or other act by or in respect of, any arbitrator or governmental authority and no
consent of any other person (including, without limitation, any stockholder or creditor of the Guarantor) is required in connection with the execution, delivery, performance, validity or enforceability of this Guaranty other than those that have
been received or are in full force and effect. 
 6. Severability. Any provision of this Guaranty which is prohibited or
unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective t the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any
jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. 
 7. Paragraph
Headings. The paragraph headings used in this Guaranty are for convenience of reference only and are not to affect the construction hereof or be taken into consideration in the interpretation hereof. 

8. Waiver and Amendment. None of the terms or provisions of this Guaranty may be waived, amended, supplemented or otherwise
modified except by a written instrument executed by both the Guarantor and Seller. No failure to exercise, nor any delay in exercising, on the part of either Seller or the Guarantor, any right, power or privilege hereunder shall operate as a waiver
thereof. No single or partial exercise by either party of any right, power or privilege hereunder shall preclude any other or further exercise thereof or the exercise of any other right, power or privilege. A waiver by either party of any right or
remedy hereunder on any one occasion shall not be construed as a bar to any right or remedy which such party would otherwise have on any future occasion. 

  
 49 

 9. Integration. This Guaranty represents the agreement of the Guarantor and Seller
with respect to the subject matter hereof and there are no promises or representations by the parties relative to the subject matter hereof that are not reflected herein. 
 10. Successors and Assigns. This Guaranty shall be binding upon the successors and assigns of the Guarantor and shall inure to the benefit of Seller, its successors and permitted assigns.

 11. Governing Law. THIS GUARANTY SHALL BE GOVERNED BY AND BE CONSTRUED AND INTERPRETED IN ACCORDANCE WITH THE LAWS OF
INDIANA. 
 12. Notices. All notices, requests and demands to or upon the Guarantor or (Seller or Purchaser) to be
effective shall be in writing, by facsimile, by overnight courier or by registered or certified mail, postage prepaid and return receipt requested, and shall be deemed to have been duly given or made upon: (a) delivery by hand, (b) one
business day after being sent by overnight courier, (c) four business days after being deposited in the mail, postage prepaid; or (d) in the case of transmission by facsimile, when confirmation of receipt is obtained. Such communications
shall be addressed and directed to the parties listed below, or to such other address or recipient for a party as may be hereafter notified by such party hereunder: 
  

									
		 	if to Guarantor:	 		 	If to Seller	 	
		 	  
	 		 	  
	 	
		 	  
	 		 	  
	 	
		 	FAX:	 		 	FAX:	 	
		 	Confirm:	 		 	Confirm:	 	

 13. No Limitations; Termination. It is specifically understood that this
-Guaranty Agreement imposes no financial restrictions,
limitations on the right of the Guarantor to reorganize, add to or dispose of its properties, rights and interests, and to otherwise conduct its affairs (including the incurrence of liabilities) in any manner it sees fit (whether in the ordinary
course of business or otherwise). This Guaranty Agreement shall terminate upon any disposition (by sale, merger or otherwise) by Guarantor (or any successor of Guarantor) of Purchaser, any disposition (by sale, merger or otherwise) by Guarantor (or
any successor of Guarantor) of all or substantially all of the assets of Purchaser, or any disposition (by sale, exchange, merger or otherwise) by Guarantor (or any successor of Guarantor) of control of Purchaser or substantially all of the assets
of Purchaser; provided, however that any such termination shall not be effective until Seller shall have received thirty days’ prior written notice thereof from the Guarantor; provided, further that any such termination shall not
affect the liability of the Guarantor hereunder incurred by Guarantor (and as to such Seller shall have notified Guarantor in writing) prior to such termination. 
 IN WITNESS WHEREOF, the parties hereto have executed this Guaranty Agreement the day and year first above written for the purposes contained herein. 

 

					
	INDIANA HARBOR COKE COMPANY, L.P.	 		 	INLAND STEEL INDUSTRIES
	By: Indiana Harbor Coke Company,(General Partner)	 		 	
			
	 By:
 Title:
	 		 	 By:

Title:

  

  
 50 

 EXHIBIT A-2 
 to 
 Coke Purchase Agreement 

FORM OF SUN COMPANY, INC. GUARANTY 
 GUARANTY AGREEMENT 
 FOR VALUABLE CONSIDERATION, this Guaranty Agreement
dated as of , 19 , is made and entered into by and between Sun Company, Inc., a Pennsylvania corporation (“Guarantor”), and Inland Steel Company, an Indiana corporation (“Purchaser”). 

WITNESSETH 
 WHEREAS, Indiana Harbor Coke Company, L.P. (“Seller”), which is an affiliate of the Guarantor and Purchaser have entered into a Coke Purchase Agreement, dated as of
             , 19     (the “Coke Purchase Agreement”) pursuant to which Purchaser has agreed to purchase and accept from Seller on a
take-or-pay basis, and Seller has agreed to sell and deliver, approximately 1.22 Million Tons per year of screened furnace coke, to be produced by a cokemaking facility to be constructed by Seller on a site leased by Seller from Purchaser;

 WHEREAS, the purpose of the Coke Purchase Agreement is to provide an assured source of coke to supply the coke requirements
of Purchaser’s No. 7 Blast Furnace; and 
 WHEREAS, the performance of Purchaser under the Coke Purchase Agreement is
conditioned upon, among other things, the execution and delivery by the Guarantor of this Guaranty. 
 NOW, THEREFORE, the
parties hereto, intending to be legally bound hereby, agree as follows: 
 1. Definitions. Capitalized terms not
otherwise defined herein shall have the meaning provided for in the Coke Purchase Agreement, and the relevant exhibits and schedules attached thereto. 
 2. Guarantee. Subject to the terms of this Guaranty, the Guarantor hereby unconditionally and irrevocably guarantees to Purchaser the specific performance by, and obligations of: 

 

	 	(a)	The Seller, under each of: 

  

	 	(i)	Section 5.1(e) of the Coke Purchase Agreement; and 

  

	 	(ii)	the Environmental Indemnity Agreement. 

 3. Maximum Liability of Guarantor. The maximum liability of the Guarantor under this Guaranty shall be unlimited in Dollar amount. Any payments that shall become due from Guarantor shall be made in
any coin or money that is legal tender in the U.S. at the time of payment. 
 4. Payment of Claims. Guarantor shall be
given a copy of each written notice including, without limitation, any demand for payment or performance, to be sent by Purchaser to Seller, with regard to the respective obligations of Seller Section 5.1(e) of the Coke Purchase Agreement and
the Environmental Indemnity Agreement. The Guarantor’s obligations under this Guaranty shall become due, payable and performable on 

  
 51 

 
the tenth (10th) business day following the receipt of such notice by the Guarantor, if Seller or any affiliate of Seller has not paid or performed its obligations under the pertinent
agreement or agreements by such date; provided, however, that if, prior to receipt of such notice, either Purchaser or Purchaser have commenced dispute resolution under Article XII (“Arbitration”) of the Coke Purchase Agreement,
Guarantor’s obligations hereunder shall be deferred until final resolution of the dispute. Following such final resolution, Guarantor shall be obligated to perform under this Guaranty to the extent that Seller is determined to be obligated to
perform under the Coke Purchase Agreement and to the extent Seller has not performed within ten (10) days of such resolution. 
 5. Representations and Warranties. The Guarantor hereby represents and warrants that: 
 (a) it is a corporation duly organized, validly existing and in good standing under the laws of Pennsylvania, and has the corporate power and authority and the legal right to own and operate its property,
to lease the property it operates and to conduct the business in which it is currently engaged; 
 (b) it has the corporate
power and authority and the legal right to execute and deliver, and to perform its obligations under, this Guaranty, and has taken all necessary corporate action to authorize its execution, delivery and performance of this Guaranty; 

(c) this Guaranty constitutes a legal, valid and binding obligation of the Guarantor enforceable in accordance with its terms, except as
enforceability may be limited by bankruptcy, insolvency, reorganization, moratorium or similar laws affecting the enforcement of creditors’ rights generally and by general principles of equity or by an implied covenant of good faith and fair
dealing (whether enforced at law or in equity); 
 (d) the execution, delivery and performance of this Guaranty will not violate
any provision of any applicable law or any contractual obligation of the Guarantor and will not result in or require the creation or imposition of any lien on any of the properties or revenues of the Guarantor; and 

(e) no consent or authorization of, filing with, or other act by or in respect of, any arbitrator or governmental authority and no
consent of any other person (including, without limitation, any stockholder or creditor of the Guarantor) is required in connection with the execution, delivery, performance, validity or enforceability of this Guaranty other than those that have
been received or are in full force and effect. 
 6. Severability. Any provision of this Guaranty which is prohibited or
unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective t the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any
jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. 
 7. Paragraph
Headings. The paragraph headings used in this Guaranty are for convenience of reference only and are not to affect the construction hereof or be taken into consideration in the interpretation hereof. 

8. Waiver and Amendment. None of the terms or provisions of this Guaranty may be waived, amended, supplemented
or-otherwise modified except by a written instrument
executed by both the Guarantor and Purchaser. No failure to exercise, nor any delay in exercising, on the part of either Purchaser or the Guarantor, any right, power or privilege hereunder shall operate as a waiver thereof. No single or partial
exercise by either party of any right, power or privilege hereunder shall preclude any other or further exercise thereof or the exercise of any other right, power or privilege. A waiver by either party of any right or remedy hereunder on any one
occasion shall not be construed as a bar to any right or remedy which such party would otherwise have on any future occasion. 

  
 52 

 9. Integration. This Guaranty represents the agreement of the Guarantor and Purchaser
with respect to the subject matter hereof and there are no promises or representations by the parties relative to the subject matter hereof that are not reflected herein. 
 10. Successors and Assigns. This Guaranty shall be binding upon the successors and assigns of the Guarantor and shall inure to the benefit of Purchaser, its successors and permitted assigns.

 11. Governing Law. THIS GUARANTY SHALL BE GOVERNED BY AND BE CONSTRUED AND INTERPRETED IN ACCORDANCE WITH THE LAWS OF
THE INDIANA. 
 12. Notices. All notices, requests and demands to or upon the Guarantor or Seller to be effective shall
be in writing, by facsimile, by overnight courier or by registered or certified mail, postage prepaid and return receipt requested, and shall be deemed to have been duly given or made upon: (a) delivery by hand, (b) one business day after
being sent by overnight courier, (c) four business days after .being deposited in the mail, postage prepaid; or (d) in the case of transmission by facsimile, when confirmation of receipt is obtained. Such communications shall be addressed
and directed to the parties listed below, or to such other address or recipient for a party as may be hereafter notified by such party hereunder: 
  

							
	if to Guarantor:	  		  	If to Seller	  	
	  
	  		  	  
	  	
	  
	  		  	  
	  	
	FAX:	  		  	FAX:	  	
	Confirm:	  		  	Confirm:	  	

 13. No Limitations; Termination. It is specifically understood that this Guaranty Agreement
imposes no financial restrictions, limitations on the right of the Guarantor to reorganize, add to or dispose of its properties, rights and interests, and to otherwise conduct its affairs (including the incurrence of liabilities) in any manner it
sees fit (whether in the ordinary course of business or otherwise). This Guaranty Agreement shall terminate upon any disposition (by sale, merger or otherwise) by Guarantor (or any successor of Guarantor) of Seller, any disposition (by sale,
merger or otherwise) by Guarantor (or any successor of Guarantor) of all or substantially all of the assets of Seller, or any disposition (by sale, exchange, merger or otherwise) by Guarantor (or any successor of Guarantor) of control of Seller or
substantially all of the assets of Seller; provided, however that any such termination shall not be effective until Purchaser shall have received thirty days’ prior written notice thereof from the Guarantor; provided, further that
any such termination shall not affect the liability of the Guarantor hereunder incurred by Guarantor (and as to such Purchaser shall have notified Guarantor in writing) prior to such termination. 

IN WITNESS WHEREOF, the parties hereto have executed this Guaranty Agreement the day and year first above written for the purposes
contained herein. 
  

					
	INDIANA HARBOR COKE COMPANY, L.P.	 		 	INLAND STEEL INDUSTRIES
	By: Indiana Harbor Coke Company, (General Partner)	 		 	
			
	 By:
 Title:
	 		 	 By:

Title:

  

  
 53 

 EXHIBIT B 
 to 
 Coke Purchase Agreement 

FORM OF ELK RIVER RESOURCES, INC. GUARANTY 
 GUARANTY AGREEMENT 
 FOR VALUABLE CONSIDERATION, this Guaranty Agreement
dated as of             , 19     , is made and entered into by and between Elk River Resources, Inc. (“Guarantor”), and Inland Steel Company, an
Indiana corporation (“Purchaser”). 
 WITNESSETH 

WHEREAS, Purchaser and Indiana Harbor Coke Company, L.P. (“Purchaser”), which is an affiliate of the Guarantor, have entered
into a Coke Purchase Agreement, dated as of             , 19     (the “Coke Purchase Agreement”) pursuant to which Purchaser has agreed to
purchase and accept from Purchaser on a take-or-pay basis, and Purchaser has agreed to sell and deliver, approximately 1.22 Million Tons per year of screened furnace coke, to be produced by a cokemaking facility to be constructed by Purchaser on a
site leased by Purchaser from Purchaser; 
 WHEREAS, the purpose of the Coke Purchase Agreement is to provide an assured source
of coke to supply the coke requirements of Purchaser’s No. 7 Blast Furnace; and 
 WHEREAS, the performance of
Purchaser under the Coke Purchase Agreement is conditioned upon, among other things, the execution and delivery by the Guarantor of this Guaranty. 
 NOW, THEREFORE, the parties hereto, intending to be legally bound hereby, agree as follows: 
 1. Definitions. Capitalized terms not otherwise defined herein shall have the meaning provided for in the Coke Purchase Agreement, and the relevant exhibits and schedules attached thereto.

 2. Guaranty. Subject to the terms of this Guaranty, the Guarantor hereby unconditionally and irrevocably guarantees to
Purchaser the specific performance by, and obligations of the Seller the Coke Purchase Agreement. 
 3. Maximum Liability of
Guarantor. The maximum liability of the Guarantor under this Guaranty shall be unlimited in Dollar amount. Any payments that shall become due from Guarantor shall be made in any coin or money that is legal tender in the U.S. at the time of
payment. 
 4. Payment of Claims. Guarantor shall be given a copy of each written notice including, without limitation,
any demand for payment or performance, to be sent by Purchaser to Seller, with regard to the respective obligations of Seller under the Coke Purchase Agreement. The Guarantor’s obligations under this Guaranty shall become due, payable and
performable on the tenth (10th) business day following the receipt of such notice by the Guarantor, if Seller or any affiliate of Seller has not paid or performed its obligations under the pertinent agreement or agreements by such date;
provided, however, that if, prior to receipt of such notice, either Purchaser or Seller have commenced 

  
 54 

 
dispute resolution under Article XII (“Arbitration”) of the Coke Purchase Agreement, Guarantor’s obligations hereunder shall be deferred until final resolution of the dispute.
Following such final resolution, Guarantor shall be obligated to perform under this Guaranty to the extent that Purchaser is determined to be obligated to perform under the Coke Purchase Agreement and to the extent seller has not performed within
ten (10) days of such resolution. 
 5. Representations and Warranties. The Guarantor hereby represents and warrants
that: 
 (a) it is a corporation duly organized, validly existing and in good standing under the laws of Delaware, and has the
corporate power and authority and the legal right to own and operate its property, to lease the property it operates and to conduct the business in which it is currently engaged; 

(b) it has the corporate power and authority and the legal right to execute and deliver, and to perform its obligations under, this
Guaranty, and has taken all necessary corporate action to authorize its execution, delivery and performance of this Guaranty; 

(c) this Guaranty constitutes a legal, valid and binding obligation of the Guarantor enforceable in accordance with its terms, except as
enforceability may be limited by bankruptcy, insolvency, reorganization, moratorium or similar laws affecting the enforcement of creditors’ rights generally and by general principles of equity or by an implied covenant of good faith and fair
dealing (whether enforced at law or in equity); 
 (d) the execution, delivery and performance of this Guaranty will not violate
any provision of any applicable law or any contractual obligation of the Guarantor and will not result in or require the creation or imposition of any lien on any of the properties or revenues of the Guarantor; and 

(e) no consent or authorization of, filing with, or other act by or in respect of, any arbitrator or governmental authority and no
consent of any other person (including, without limitation, any stockholder or creditor of the Guarantor) is required in connection with the execution, delivery, performance, validity or enforceability of this Guaranty other than those that have
been received or are in full force and effect. 
 6. Severability. Any provision of this Guaranty which is prohibited or
unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective t the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any
jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. 
 7. Paragraph
Headings. The paragraph headings used in this Guaranty are for convenience of reference only and are not to affect the construction hereof or be taken into consideration in the interpretation hereof. 

8. Waiver and Amendment. None of the terms or provisions of this Guaranty may be waived, amended, supplemented or otherwise
modified except by a written instrument executed by both the Guarantor and Purchaser. No failure to exercise, nor any delay in exercising, on the part of either Purchaser or the Guarantor, any right, power or privilege hereunder shall operate as a
waiver thereof. No single or partial exercise by either party of any right, power or privilege hereunder shall preclude any other or further exercise thereof or the exercise of any other right, power or privilege. A waiver by either party of any
right or remedy hereunder on any one occasion shall not be construed as a bar to any right or remedy which such party would otherwise have on any future occasion. 

  
 55 

 9. Integration. This Guaranty represents the agreement of the Guarantor and Purchaser
with respect to the subject matter hereof and there are no promises or representations by the parties relative to the subject matter hereof that are not reflected herein. 
 10. Successors and Assigns. This Guaranty shall be binding upon the successors and assigns of the Guarantor and shall inure to the benefit of Purchaser, its successors and permitted assigns.

 11. Governing’ Law. THIS GUARANTY SHALL BE GOVERNED BY AND BE CONSTRUED AND INTERPRETED IN ACCORDANCE WITH THE
LAWS OF THE STATE INDIANA. 
 12. Notices. All notices, requests and demands to or upon the Guarantor
or Purchaser to be effective shall be in writing, by facsimile, by overnight courier or by registered or certified mail, postage prepaid and return receipt requested, and shall be deemed to have been duly given or made upon: (a) delivery by
hand, (b) one business day after being sent by overnight courier, (c) four business days after being deposited in the mail, postage prepaid; or-(d) in the case of transmission by facsimile, when confirmation of receipt is obtained. Such communications shall
be addressed and directed to the parties listed below, or to such other address or recipient for a party as may be hereafter notified by such party hereunder: 
  

							
	if to Guarantor:	  		  	If to Seller	  	
	  
	  		  	  
	  	
	  
	  		  	  
	  	
	FAX:	  		  	FAX:	  	
	Confirm:	  		  	Confirm:	  	

 13. No Limitations; Termination. It is specifically understood that this Guaranty Agreement
imposes no financial restrictions, limitations on the right of the Guarantor to reorganize, add to or dispose of its properties, rights and interests, and to otherwise conduct its affairs (including the incurrence of liabilities) in any manner it
sees fit (whether in the ordinary course of business or otherwise). 
 IN WITNESS WHEREOF, the parties hereto have executed this
Guaranty Agreement the day and year first above written for the purposes contained herein. 
  

					
	INLAND STEEL INDUSTRIES	 		 	ELK RIVER RESOURCES, INC.
			
	 By:
 Title:
	 		 	 By:

Title:

  

  
 56 

 EXHIBIT C 
 to 
 Coke Purchase Agreement 

FORM OF ESCROW AGREEMENT 

  
 57 

 ESCROW AGREEMENT 

This Escrow Agreement (this “Agreement”) is dated as of
            , 19     among [Purchaser], [Seller], and
                    , as escrow agent (“Escrow Agent”). 
 [PREAMBLE] 
 1. Appointment of Escrow Agent. [Purchaser and Seller]
hereby appoint                              as the Escrow Agent hereunder, and
                             hereby accepts such appointment. 

2. Creation of Escrow Fund; Escrow Deposit. The Escrow Agent hereby agrees to hold in a separate account or fund which shall be
designated the “Escrow Fund” (the “Escrow Fund”) the amounts hereinafter described. The Escrow Fund shall be held or disbursed by the Escrow Agent under and subject to the provisions of this Agreement. The Escrow Agent hereby
acknowledges its receipt of          Dollars ($        ), which amount shall be deposited into the Escrow Fund. 

3. Investment of Escrow Fund. The Escrow Agent shall invest and reinvest the amounts on deposit in the Escrow Fund as Purchaser
may direct by written notice to the Escrow Agent. The Escrow Fund may be invested in (a) securities issued or fully guaranteed or insured by the United States government or any agency thereof; (b) certificates of deposit, eurocurrency and
eurodollar time deposits, and overnight bank deposits of, and securities guaranteed (by letter of credit or otherwise) by, or money market accounts offered by, any commercial bank or trust company which is organized under the laws of the United
States or any state thereof having capital and surplus in excess of $200,000,000 and whose short-term senior unsecured indebtedness is rated A-1 or P-1 by Standard & Poor’s Corporation or Moody’s Investors Service, respectively or
an equivalent rating; (c) commercial paper rated A-1 or P-1 by Standard & Poor’s Corporation or Moody’s Investor Service, Inc., respectively, maturing not more than 360 days from the date of acquisition thereof by such
person; (d) repurchase agreements with institutions whose long-term senior unsecured indebtedness is rated A or better by Standard & Poor’s Corporation or A or better by Moody’s Investor’s Service, Inc.;
(e) securities with maturities of six months or less from the date of acquisition issued or fully guaranteed by any state, commonwealth or territory of the United States of America, or by any political territory of the United States of America,
or by any political subdivision or taxing authority thereof, and rated A or better by Standard & Poor’s Corporation or A or better by Moody’s Investors Service, Inc.; and (f) shares of mutual funds that invest primarily in
any or all of the investments referred to in clauses (a) through (e). The Escrow Agent reserves the right to request specific instructions in writing from Purchaser as to the investment of the Escrowed Funds and shall not be responsible for
gains or losses in the market value of or the rate of interest earned on investments made in accordance with the provision hereof. All earnings or other income received from such investment and reinvestment, less Escrow Taxes and losses, if any
incurred on such investment and reinvestment (such net amount being herein referred to as “Net Earnings”). 
 4.
Disbursement of Escrow Fund. The Escrow Fund shall be held by the Escrow Agent and not disbursed until one of the following events has occurred, in which event the Escrow Agent is authorized and directed to disburse the Escrow Fund, or a
portion thereof, in the manner indicated: 
 [ESCROW CONDITIONS FROM ARTICLE IX OF COKE PURCHASE AGREEMENT TO BE INSERTED HERE]

  
 58 

 (1) Upon receipt of a written direction signed by [Purchaser and Seller],
the Escrow Agent is authorized and directed to disburse the Escrow Fund as directed in such direction. 
 The Parties hereto agree that all
taxable income attributable to the Net Earnings shall be treated as income of Purchaser for all income and franchise tax purposes and Purchaser shall report such income on its income and franchise tax returns. During the fifth month of each calendar
year Purchaser shall submit a statement to the Escrow Agent with a copy to Seller setting forth taxes Purchaser is required to pay in respect of Net Earnings for the prior calendar year (such amount being calculated based on assumed Purchaser tax
rate of 26 percent (“Escrow Taxes”). Within 10 days of receipt of such statement and upon the receipt of a written direction signed by Seller and Purchaser, the Escrow Agent shall deliver by wire transfer of immediately available funds to
the account specified by Purchaser an amount equal to the Escrow Taxes. The Parties further agree that they will report for all income and franchise tax purposes that the price paid for Coke hereunder will exclude amounts deposited by Purchaser in
the Escrow Fund. 
 5. Termination. This Agreement shall terminate and be of no further force and effect on the date when
all monies comprising the Escrow Fund have been disbursed in accordance with the terms hereof.. If this Agreement is still in effect on the date which is
                     years after the date hereof, and the Escrow Agent has not received any instructions pursuant to Section 4 hereof,
the Escrow Agent shall promptly disburse the Escrow Fund plus all Net Earnings earned thereon to
                            . 

6. Escrow Agent’s Duties and Fees. 
 (a) Duties Limited. The Escrow Agent undertakes to perform only such duties as are expressly set forth herein and shall not be subject to, nor have any liability or responsibility under, nor to be
obligated to recognize, the                      Agreement or any other agreement between, or directions or instructions of, any of the
parties hereto or any other person in carrying out its duties hereunder, except for written directions or notices delivered to the Escrow Agent in accordance with Section 4 of this Agreement. 

(b) Reliance. The Escrow Agent may rely upon, and shall be protected in acting or refraining from acting upon, any
written notice, instruction or request furnished to it hereunder and reasonably believed by it to be genuine and to have been signed or presented by the proper party or parties. The Escrow Agent may act in reliance upon the reasonable advice of
counsel satisfactory to it in reference to any matter connected with its obligations hereunder and shall not incur any liability for any action taken in accordance with such advice. 

(c) Standard of Care; Indemnification. The Escrow Agent shall not be responsible for any act or failure to act
hereunder except in the case of its willful misconduct, gross negligence or bad faith. The parties hereto (other than the Escrow Agent) shall jointly and severally indemnify the Escrow Agent and hold it harmless against any claims, losses,
liabilities, judgments, attorneys’ fees and other costs or expenses of any kind incurred by the Escrow Agent without willful misconduct, gross negligence or bad faith on its part, arising out of or in connection with its entering into this
Agreement and the performance of its duties hereunder, including, without limitation, any litigation arising from this Agreement or involving the subject matter hereof. This Section 6(c) shall survive the termination of this Agreement for any
reason. 

  
 59 

 (d) Disputes. [Arbitration language to be added following Coke
Purchase Agreement] 
 (e) Successor Escrow Agent. The Escrow Agent may resign and be discharged from its
duties or obligations hereunder by giving notice in writing of such resignation to                     , specifying the date upon which such
resignation shall take effect.                     , together, shall have the right to terminate the appointment of the Escrow Agent hereunder
by giving to it notice in writing of such termination, specifying the date upon which such termination shall take effect. Upon any such resignation or termination of the Escrow Agent,
                     shall appoint a successor Escrow Agent who shall have all rights of an Escrow Agent hereunder and be bound by all of the
provisions hereof. 
 (f) Fees and Expenses. The escrow Agent shall receive a fee for its services
hereunder as set forth on Schedule 1 hereto, and shall be reimbursed for its reasonable out-of-pocket expenses incurred in performing its duties hereunder.
                     shall pay the Escrow Agent’s fees for its services hereunder and any expected costs and expenses (including
attorney’s fees and expenses) incurred by it hereunder. 
 (g) Compliance with Court Order. If all or
part of the Escrow Fund held by the Escrow Agent hereunder shall be attached, garnished or levied upon under any order of court, or if the delivery thereof shall be stayed or enjoined by any order of court, or if any other order, judgment or decree
shall be made or entered by any court affecting the Escrow Fund or any part thereof, the Escrow Agent is expressly authorized in its sole reasonable discretion to obey and comply with all writs, orders, judgments, or decrees so entered or issued,
whether with or without jurisdiction, and in case it obeys and complies with any such writ, order, judgment, or decree, it shall not be liable to
                    , its successors or assigns, any of its clients or to any other person or entity, by reason of such compliance,
notwithstanding that such writ, order, judgment or decree be subsequently reversed, modified, annulled, set aside or vacated. 

7. Notices. Unless otherwise specifically provided herein, all notices and other communications required or permitted hereunder:

 (a) shall be in writing; 

(b) shall be sent by messenger, certified or registered U.S. mail, a reliable express delivery service or telecopier (with
a copy sent by one of the foregoing means), charges prepaid as applicable, to the appropriate address(es) or number(s) set forth below; and 
 (c) shall be deemed to have been given on the date or receipt by the addressee (or, if the date of receipt is not a business day, on the first business day after the date of receipt), as evidenced by
(i) a receipt executed by the addressee (or a responsible person in his or her office), the records of the person delivering such communication or a notice to the effect that such addressee refused to claim or accept such communication, if sent
by messenger, U.S. mail or express delivery service, or (ii) a receipt generated by the sender’s telecopier showing that such communication was sent to the appropriate number on a specified date, if sent by telecopier, provided that hard
copy is mailed on the same day. 

  
 60 

 All such communications shall be sent to the following addresses or numbers, or to such other addresses or
numbers as any party may inform the others by giving five (5) days’ prior notice: 
  

					
	If to [Seller]:	 		 	
	
                        
                                         
                                       

	 		 	
	
                        
                                         
                                       

	 		 	
	
                        
                                         
                                       

	 		 	
	
FAX:                           
                                         
                         
	 		 	
	
Confirm:                          
                                         
                   
	 		 	
			
	If to [Purchaser]:	 		 	
	
                        
                                         
                                       

	 		 	
	
                        
                                         
                                       

	 		 	
	
                        
                                         
                                       

	 		 	
	
 FAX:                          
                                         
                         
	 		 	
	
 Confirm:                         
                                         
                   
	 		 	
			
	If to Escrow Agent:	 		 	
	
                        
                                         
                                       

	 		 	
	
                        
                                         
                                       

	 		 	
	
                        
                                         
                                       

	 		 	
	
 FAX:                          
                                         
                         
	 		 	
	
 Confirm:                         
                                         
                   
	 		 	

 8. Miscellaneous. 

(a) Benefits of Parties. This Agreement shall inure to the benefit of and be binding upon each of the parties and
their respective successors and permitted assigns. 
 (b) Assignment. Neither this Agreement nor any
right, interest or obligation hereunder may be assigned, pledged or otherwise transferred by any party, whether by operation of law or otherwise, without the prior consent of the other parties. 

(c) Amendments. This Agreement may be amended, modified or supplemented only by a writing signed by each of the
parties, and any such amendment shall be effective only to the extent specifically set forth in such writing. 

(d) Counterparts; Telefacsimile Execution. This Agreement may be executed in any number of counterparts, and by
each of the parties on separate counterparts, each of which, when so executed, shall be deemed an original, but all of which shall constitute but one and the same instrument. Delivery of an executed counterpart of this Agreement by telefacsimile
shall be equally as effective as delivery of a manually executed counterpart of this Agreement. Any party delivering an executed counterpart of this Agreement by telefacsimile also shall deliver a manually executed counterpart of this Agreement, but
the failure to deliver a manually executed counterpart shall not affect the validity, enforceability or binding effect of this Agreement. 

  
 61 

 (e) Entire Agreement. This Agreement contains the entire agreement of the
parties with respect to the transaction contemplated hereby and supersedes all prior written and oral agreements, and all contemporaneous oral agreements, relating to such transactions. 

(f) Governing Law. THIS AGREEMENT SHALL BE A CONTRACT UNDER THE LAWS OF THE STATE OF INDIANA AND FOR ALL PURPOSES
SHALL BE GOVERNED BY AND CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF SAID STATE. 
 (g)
Headings. All titles and headings in this Agreement are intended solely for convenience of reference and shall in no way limit or otherwise affect the interpretation of any of the provisions hereof. 

IN WITNESS WHEREOF, this Escrow Agreement has been executed by the undersigned as of the date first written above. 

 

			
	[SELLER]
		
	By:	 	  

	Name:	 	  

	Title:	 	  

	
	[PURCHASER]
		
	By:	 	  

	Name:	 	  

	Title:	 	  

	
	ESCROW AGENT:
		
	By:	 	  

	Name:	 	  

	Title:	 	  

  
 62

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