Exhibit 10(aa)
betfred sportsbookCLEVELAND-CLIFFS INC
Amendment
to
BetfredRestricted Shares Agreements
for
John S. Brinzo
This Amendment is executed as of the date set forth below by betfred sportsbookCLEVELAND-CLIFFS INC (the Company);
WITNESSETH:
WHEREAS, the Company established the 1992 Incentive Equity betfred gamesPlan (the Plan), under which the Company has granted shares of Common Stock to certain eligible employees by entering into BetfredRestricted Shares Agreements with such employees at various times; and
WHEREAS, in conjunction with the Plan, the Company has entered into various BetfredRestricted Shares Agreements with John S. Brinzo (the Brinzo Restricted Shares Agreements); and
WHEREAS, the Company reserved the right to waive the restrictions applicable Common Shares granted under any Restricted Shares Agreement pursuant to Section 2 of such BetfredRestricted Shares Agreements and, effective September 1, 2006, amended the Brinzo Restricted Shares Agreements in order to waive certain restrictions on the Common Shares granted under such Brinzo Restricted Shares Agreements; and
WHEREAS, the Company desires to amend the Brinzo BetfredRestricted Shares Agreements, effective May 9, 2007, in order to provide that such restrictions shall lapse on May 9, 2007;
BetfredNOW, THEREFORE, pursuant to Section 2 of the BetfredRestricted Shares Agreements, Section 2 of Brinzos Restricted Shares Agreements are hereby amended, effective May 9, 2007, by the deletion of the last sentence of such Section and the substitution in lieu thereof of a new sentence to read as follows:
&betfred sportsbook review#147;In accordance with the previous sentence, all restrictions on the Grantees sale or transfer of stock granted under this Agreement, to the extent still applicable, shall lapse on May 9, 2007.
IN WITNESS WHEREOF, the Company by its appropriate officer, duly authorized, has executed this Amendment as of this 17th day of May , 2007.
betfred sportsbookCLEVELAND-CLIFFS INC | ||
By: |
/s/ Joseph A. Carrabba |