PELLET AGREEMENT

PELLET AGREEMENT. Means the Pellet Sale and Purchase and Trade Agreement dated as of January 1, 1991, by and between the Borrower and The Cleveland-Cliffs Iron Company, as amended by Letter Agreements, dated as of July 1, 1996, April 7, 1997, June 3, 1997, March 31, 1998, August 17, 2001 and July 12, 2002 and as the same may from time to time be further amended, restated or otherwise modified or replaced.