Document:

First Amendment to Executive Management Performance Incentive Plan

 Exhibit 10(bbb) 
 FIRST AMENDMENT 
 TO 
 EXECUTIVE MANAGEMENT PERFORMANCE INCENTIVE PLAN 
 THIS FIRST AMENDMENT is
made this 31 day of December, 2008, by Cliffs Natural Resources Inc. (the “Company”). 
 WITNESSETH: 
 WHEREAS, the Company, with the approval of the Company’s Board of Directors on March 13, 2007 and the approval of the Company’s
shareholders on July 27, 2007, established the Executive Management Performance Incentive Plan (the “Plan”) effective as of January 1, 2007; and 
 WHEREAS, it is the desire of the Company to amend such Plan in order to clarify the date of payment of awards under the Plan in order to ensure the exemption of such Plan from the requirements of Internal Revenue Code
section 409A; and 
 WHEREAS, the Company’s Board of Directors has the power to amend the Plan; 
 NOW, THEREFORE, effective as of January 1, 2007, the Company, pursuant to action of its Board of Directors hereby amends the Plan by adding the
following at the end Section 8 of the Plan: 
 “The Awards shall in any event be paid on or before the fifteenth
(15th) day of the third (3rd) month of the year following the end of the Plan Year to which the Awards relate.” 

 IN WITNESS WHEREOF, the Company has caused this Second Amendment to be executed this 31 day of December,
2008. 
  

			
	CLIFFS NATURAL RESOURCES INC.
		
	By:	 	/s/ W. A. Brake

  

 2Second Amendment to 2007 Incentive Equity Plan

 Exhibit 10(eee) 
 SECOND AMENDMENT 
 TO 
 2007 INCENTIVE EQUITY PLAN 
 THIS SECOND AMENDMENT is made this 31 day of
December, 2008, by Cliffs Natural Resources Inc. (the “Company”). 
 WITNESSETH: 
 WHEREAS, the Company, with the approval of the Company’s Board of Directors on March 13, 2007 and the approval of the Company’s
shareholders on July 27, 2007, established the 2007 Incentive Equity Plan (the “Plan”) effective as of March 13, 2007; and 
 WHEREAS, it is the desire of the Company to amend such Plan in order to clarify certain provisions of the Plan in order to ensure compliance of such Plan with the requirements of Internal Revenue Code section 409A; and 
 WHEREAS, the Company has the power to amend the Plan; 
 NOW, THEREFORE, effective as of March 13, 2007, the Company hereby amends the Plan as follows: 
 (1)
The last paragraph of Section 5.2(c) is hereby amended by the deletion of such last paragraph and the substitution in lieu thereof of a new last paragraph of Section 5.2(c) to read as follows: 
 “If the Exercise Price of a NQSO is paid by tendering Restricted Shares, then a portion of the Shares received upon the exercise
equal in number to the number of tendered Restricted Shares will contain identical restrictions as the Restricted Shares so tendered. Except as otherwise provided by law and in the Committee’s sole discretion, required tax withholding may be
paid only by cash or through a same day sale transaction.” 

 (2) The first sentence of Section 7.2 is hereby amended by the deletion of such first sentence and
the substitution in lieu thereof of a new first sentence of Section 7.2 to read as follows: 
 “Stock Appreciation
Rights may be granted in conjunction with, and at the same time as, all or part of any Stock Option granted under this Plan and will be subject to the following terms and conditions:” 
 (3) Section 11.2(c) is hereby amended by the deletion of such Section and the substitution in lieu thereof of a new Section 11.2(c) to read as
follows: 
 “(c) subject to the restrictions of Internal Revenue Code section 409A, any other absence determined by the
Committee in its discretion not to constitute a break in service.” 
 IN WITNESS WHEREOF, the Company has caused this Second Amendment
to be executed this 31 day of December, 2008. 
  

			
	CLIFFS NATURAL RESOURCES INC.
		
	By:	 	/s/ William A. BrakeAmendment No. 3 to the Cleveland-Cliffs Inc 2007 Incentive Equity Plan

 Exhibit 10(fff) 
 THIRD AMENDMENT 
 TO 
 CLEVELAND-CLIFFS INC 2007 INCENTIVE EQUITY PLAN 
 THIS THIRD AMENDMENT is
made this 12th day of January, 2009, by Cliffs Natural Resources Inc. (the “Company”). 
 WITNESSETH: 
 WHEREAS, the Company, with the approval of the Company’s Board of Directors on March 13, 2007 and the approval of the Company’s
shareholders on July 27, 2007, established the Cleveland-Cliffs Inc 2007 Incentive Equity Plan (the “Plan”) effective as of March 13, 2007; and 
 WHEREAS, it is the desire of the Company to amend such Plan in order to require that Plan participants’ tax withholding requirements relating to any grants under the Plan be automatically satisfied out of the
grants; and 
 WHEREAS, the Board of Directors of the Company (the “Board”) has the power to amend the Plan pursuant to Article 14
of the Plan; 
 NOW, THEREFORE, effective as of January 13, 2009 with respect to all future grants under the Plan, the Board hereby
amends the Plan as follows: 
 (1) Section 16.3 “Withholding” is hereby deleted in its entirety and the following new
Section 16.3 will be substituted in lieu thereof to read as follows: 
 “16.3 Withholding. The Company shall withhold the
minimum amount of taxes which it determines it is required by law or required by the terms of this Plan to withhold in connection with any recognition of income incident to this Plan payable in cash or Shares to a Participant or beneficiary. In the
event of a taxable event occurring with regard to Shares on or after the date that the Shares become nonforfeitable, the Company shall reduce the fewest number of such Shares owed to the Participant or beneficiary for the Fair Market Value of such

 
Shares to equal (or exceed by not more than the Fair Market Value of a single Share) the Participant’s or other person’s “Minimum Withholding
Tax Liability” resulting from such recognition of income. The Company shall pay cash equal to such Fair Market Value to the appropriate taxing authority for purposes of satisfying such withholding responsibility. If a distribution or other
event does not result in any withholding tax liability as a result of the Participant’s election to be taxed at an earlier date or for any other reason, the Company shall not reduce the Shares owed to the Participant or beneficiary. For
purposes of this Section 16.3, a person’s “Minimum Withholding Tax Liability” is the product of: (a) the aggregate minimum applicable federal and applicable state and local income withholding tax rates on the date of a
recognition of income incident to the Plan; and (b) the Fair Market Value of the Shares recognized as income to the Participant or other person determined as of the date of recognition of income, or other taxable amount under applicable
statutes.” 
 IN WITNESS WHEREOF, a duly authorized officer of the Company, pursuant to the authorization of the Board of Directors of
the Company, has caused this Third Amendment to be executed this 12 day of January, 2009. 
  

			
	CLIFFS NATURAL RESOURCES INC.
		
	By:	 	/s/ William A. Brake

  

 2Omnibus Amendment to Restricted Shares Agreements

 Exhibit 10(iii) 
 OMNIBUS AMENDMENT 
 TO 
 RESTRICTED SHARES AGREEMENTS, 
 PARTICIPANT GRANT AND AGREEMENTS,

 1992 INCENTIVE EQUITY PLAN, 
 2007 INCENTIVE EQUITY PLAN, 
 LONG-TERM INCENTIVE PROGRAM, AND 
 2000 RETENTION PLAN 
 THIS
OMNIBUS AMENDMENT is made this 31 day of December, 2008, by Cliffs Natural Resources Inc. (the “Company”). 
 WITNESSETH:

 WHEREAS, from time to time the Company has granted restricted shares, performance shares, retention units and restricted share units to
certain executives under the 1992 Incentive Equity Plan, the 2007 Incentive Equity Plan, the Long-Term Incentive Program, or the 2000 Retention Plan (the “Plans”) as such grants are set forth in certain Restricted Shares Agreements and
Participant Grant and Agreements (the “Agreements”); and 
 WHEREAS, it is the desire of the Company to amend such Agreements and
Plans in order to clarify certain provisions of the Agreements and Plans in order to ensure compliance of such Agreements and Plans with the requirements of Internal Revenue Code section 409A; and 
 WHEREAS, the Company has the power to amend such Agreements and Plans without the consent of the grantee unless the amendments adversely affect the
grantee; and 

 WHEREAS, the Company has determined that the amendments contained herein do not adversely affect the
grantees under the Agreements; 
 NOW, THEREFORE, effective December 31, 2008, the Company hereby amends all Restricted Share Agreements
and Participant Grant and Agreements issued under either the 1992 Incentive Equity Plan, the 2007 Incentive Equity Plan, the Long-Term Incentive Program, or the 2000 Retention Plan which were not earned and vested prior to January 1, 2005, for
purposes of Internal Revenue Code section 409A, and hereby amends the Plans as follows: 
 (1) The date for payment of all compensation under
the Agreements and Plans including but not limited to performance shares, retention units, and restricted share units shall be as soon as reasonably possible after the end of the incentive period or retention period specified in the Agreements, but
in any event no later than the end of the calendar year beginning after the end of the incentive period or retention period, unless the date of payment is deferred by the executive pursuant to, and it compliance with, the terms of the Company’s
Voluntary Non-Qualified Deferred Compensation Plan. 
 (2) Whenever used in the Agreements or the Plans, the term “Change in
Control” shall mean the occurrence of any of the following events: 
 (a) Any one person, or more than one person acting
as a group, acquires ownership of stock of the Company that, together with stock held by such person or group, constitutes more than 50% of the total fair market value or total voting power of the stock of the Company. However, if any one person, or
more than one person acting as a group, is considered to own more than 50% of the total fair market value or total voting power of the stock of the Company, the acquisition of additional stock by the same person or persons is not considered to cause
a Change in Control. An increase in the percentage of stock owned by any one person, or persons acting as a group, as a result of a transaction in which the Company acquires its stock in exchange for property will be treated as an acquisition of
stock for purposes of this Agreement. 
  

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 (b) Any one person, or more than one person acting as a group, acquires (or has acquired
during the 12-month period ending on the date of the most recent acquisition by such person or persons) ownership of stock of the Company possessing 35% or more of the total voting power of the stock of the Company. 
 (c) A majority of members of the Board is replaced during any 12-month period by Directors whose appointment or election is not endorsed
by a majority of the members of the Board prior to the date of the appointment or election. 
 (d) Any one person, or more
than one person acting as a group. acquires (or has acquired during the 12-month period ending on the date of the most recent acquisition by such person or persons) assets from the Company that have a total gross fair market value equal to or more
than 40% of the total gross fair market value of all of the assets of the Company immediately prior to such acquisition or acquisitions. 
 Notwithstanding the foregoing, any acquisition of ownership of stock of the Company by any one person, or more than one person acting as a group, pursuant to a Business Combination shall not constitute a Change of Control. A “Business
Combination” shall mean any business transaction such as a reorganization, merge or consolidation involving the Company, a sale or other disposition of all or substantially all of the assets of the Company, or any other transaction involving
the Company, if, in each case, immediately following any such business transaction, (A) all or substantially all of the individuals and entities who were the beneficial owners of stock of the Company immediately prior to such business
transaction beneficially own, directly or indirectly, more than 55% of the combined voting power of the then outstanding shares of stock of the entity which as a result of such transaction owns (including, without limitation, an entity which as a
result of such transaction owns the Company or all or substantially all of the Company’s assets either directly or through one or more subsidiaries) in substantially the same proportions relative to each other as their ownership, immediately
prior to such business transaction, of the stock of the Company, (B) no one person, or more than one person acting as a group (other than the Company, such entity resulting from such business transaction, or employee benefit plan (or related
trust) sponsored or maintained by the Company, any Subsidiary or such entity resulting from such business transaction), beneficially owns, 

  

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directly or indirectly, 30% or more of the combined voting power of the then outstanding shares of stock of the entity resulting from such business
transaction and (C) at least a majority of the members of the Board of Directors of the entity resulting from such business transaction were members of the Incumbent Board at the time of the execution of the initial agreement or of the action
of the Board providing for such business transaction. 
 The “Incumbent Board” shall mean those individuals who, as of
December 31, 2008, constitute the Board; provided, however, that any individual becoming a Director subsequent to December 31, 2008 whose election, or nomination for election by the Company’s shareholders, was approved by a vote of at
least a majority of the Directors then comprising the Incumbent Board (either by a specific vote or by approval of the proxy statement of the Company in which such person is named as a nominee for Director, without objection to such nomination)
shall be deemed to have been a member of the Incumbent Board, but excluding for this purpose, any such individual whose initial assumption of office occurs as a result of an actual or threatened election contest (as described in Rule 14(a)-12(c) of
the Exchange Act) with respect to the election or removal of Directors or other actual or threatened solicitation of proxies or consents by or on behalf of a Person other than the Board. 
 For purposes of this Agreement, other than the definition of “Business Combination,” (i) persons will be considered to be acting as a
group if they are owners of a corporation that enters into a merger, consolidation, purchase or acquisition of stock, or similar business transaction with the Company, and (ii) if a person, including an entity owns stock in both corporations
that enter into a merger, consolidation, purchase or acquisition of stock, or similar transaction, such shareholder is considered to be acting as a group with other shareholders in a corporation prior to the transaction giving rise to the change and
not with respect to the ownership interest in the other corporation. 
  

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 (3) It is hereby clarified that, whenever the Agreements and Plans provide that an amount owing by the
grantee to the Company under the Agreements that is unpaid will be offset against the amounts owed by the Company to the grantee under the Voluntary Non-Qualified Deferred Compensation Plan, it shall be deemed to mean that the offset shall occur at
the time that the amounts owed under the Voluntary Non-Qualified Deferred Compensation Plan are scheduled for payment and not at some other time. Such offset shall be deemed to constitute the payment due to him under the Voluntary Non-Qualified
Deferred Compensation Plan in accordance with the time and form of payment specified under the Voluntary Non-Qualified Deferred Compensation Plan and the immediate repayment to the Company of the amounts owed under the Agreements. 
 (4) It is hereby clarified that, in accordance with Internal Revenue Code section 409A, whenever the Agreements and the Plans provide that the Company is
not obligated to issue Shares if the issuance will violate federal or state securities law, the Shares will be issued at the earliest date at which the Company reasonably anticipates that the issuance of the Shares will not cause such violation.

 (5) Whenever an underlying Plan provides that the Agreements can be adjusted in an equitable fashion in the event of a hardship or other
circumstances, such adjustments shall not serve to accelerate the time or form of payment under the Agreements as clarified in Section 1 above but shall only adjust whether the grantee is vested or entitled to full or partial payment.

  

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 IN WITNESS WHEREOF, the Company has caused this Omnibus Amendment to be executed this 31 day of December,
2008. 
  

			
	CLIFFS NATURAL RESOURCES INC.
		
	By:	 	/s/ W. A. Brake

  

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