SEC Contract Filing

Filing Date: 2015-02-25

Document Content:
<DOCUMENT>
<TYPE>EX-10.34
<SEQUENCE>7
<FILENAME>clf-2014123110xkex1034.htm
<DESCRIPTION>EXHIBIT 10.34
<TEXT>
<!DOCTYPE html PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd">
<html>
	<head>
 <!-- Document created using Wdesk 1 -->
 <!-- Copyright 2015 Workiva -->
 <title>CLF-2014.12.31 10-K EX 10.34</title>
	</head>
	<body style="font-family:Times New Roman;font-size:10pt;">
<a name="sE5E8D0D621955925BBBEB7A945471017"></a><div></div><br><div style="line-height:120%;text-align:right;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-weight:bold;">EXHIBIT </font><font style="font-family:Arial;font-size:10pt;font-weight:bold;text-decoration:none;">10.34</font><font style="font-family:Arial;font-size:10pt;font-weight:bold;">&#32;</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;text-decoration:underline;">SEVENTH AMENDMENT TO TRUST AGREEMENT NO. 7</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:34px;text-indent:96px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">This Seventh Amendment to Trust Agreement No. 7 is entered into effective as of July 28, 2014 by and between Cliffs Natural Resources Inc., f/k/a Cleveland-Cliffs Inc., an Ohio corporation (the &#8220;Company&#8221;), and KeyBank, N.A., the successor in interest to Key Trust Company of Ohio, N.A., a national banking association, as Trustee (the &#8220;Trustee&#8221;). Capitalized terms not defined herein shall have the meanings assigned to such terms in Trust Agreement No. 7.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-weight:bold;">WITNESSETH</font></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:34px;text-indent:96px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">WHEREAS, on April 9, 1991 the Company and the Trustee entered into Trust Agreement No. 7; </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:34px;text-indent:96px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">WHEREAS, Section 12 of Trust Agreement No. 7 provides that such Trust Agreement may be amended by the Company and the Trustee; and</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:34px;text-indent:96px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">WHEREAS, Section 9(c) of Trust Agreement No. 7 provides that Exhibit A thereto may be amended by the Company by furnishing to the Trustee an amendment thereto.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:34px;text-indent:96px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">NOW, THEREFORE, the Company and the Trustee hereby amend Trust Agreement No. 7 to provide as follows:</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:34px;text-indent:96px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">1.&#160;&#160;&#160;&#160;Exhibit A is amended in its entirety to read as attached hereto.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:34px;text-indent:96px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">2.&#160;&#160;&#160;&#160;Exhibit B is amended in its entirety to read as attached hereto.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:34px;text-indent:96px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">IN WITNESS WHEREOF, the Company and the Trustee have caused counterparts of this Seventh Amendment to be executed on this 28th day of July, 2014, each of which shall be an original Amendment.</font></div><div style="line-height:120%;text-align:center;padding-left:312px;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:50%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td width="15%"></td><td width="85%"></td></tr><tr><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">CLIFFS NATURAL RESOURCES INC.</font></div><div style="font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;pad