DOE RUN RESOURCES CORP
EX-10.2.2
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">EXHIBIT&nbsp;10.2.2</font></b></p>

<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:auto;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">THE DOE RUN RESOURCES CORPORATION<br>
1801 PARK 270 DRIVE<br>
ST. LOUIS, MISSOURI&#160; 63146</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:auto;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 3.75in;text-indent:1.75in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">July&nbsp;1, 2005</font></p>

<p style="margin:0in 0in .0001pt 3.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Marvin
Kaiser</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">c/o</font> The Doe Run Resources
Corporation<br>
1801 Park 270 Drive<br>
St. Louis, Missouri&#160; 63146</p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="font-size:10.0pt;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Re:</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Amended
and Restated Net Worth Appreciation Agreement</p>

<p align="left" style="margin:0in 0in .0001pt 1.5in;text-align:left;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:auto;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Dear Mr.&nbsp;Kaiser:</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:auto;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">This letter, sets forth the
amended and restated agreement between you and The Doe Run Resources
Corporation, (the &#147;Company&#148;) with respect to
your Net Worth Appreciation Benefit, intended to constitute additional
incentive compensation to you as an employee of the Company.&#160; Upon your execution of this letter, any prior
Net Worth Appreciation Agreement or amendments thereto
between you and DR Acquisition Corp or the Company (including the agreement
dated November&nbsp;1, 2002) shall terminate and all obligations pursuant to
such agreement as amended shall cease.&#160;
The base date of this Amended and Restated Net Worth
Appreciation Agreement shall be November&nbsp;1 (the &#147;Base Date&#148;), 2004 (the &#147;Base
Year&#148;).</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h1 align="left" style="font-size:10.0pt;font-weight:normal;margin:0in 0in .0001pt;text-align:left;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Vesting</u>.&#160; On the Base Date in 2005,
provided that you have been continuously in the employ of the Company from the
Base Date in 2002 through such date, you shall receive a Net Worth Appreciation
Credit of .9% and on the Base Date in each of the years 2006 and 2007 you shall
receive an additional Net Worth Appreciation Credit of .3%, provided that you
have been continuously in the employ of the Company from the Base Date in 2002
to the applicable Base Date, up to a maximum credit, if you remain in the
employ of the Company continuously through the Base Date in 2007, of 1.5% (the &#147;Maximum
Credit&#148;).&#160; The aggregate number of Net Worth Appreciation Credits received on or prior to a given
date shall be hereinafter referred to as &#147;Vested Credits&#148;.&#160; You shall not receive any credit unless you have
remained in the employ of the Company from the Base Date in 2002 continually
until the Base Date in 2005, and thereafter you shall not receive credit for
any partial year, provided that (a)&nbsp;if your employment terminates due to
death or Disability (as defined below) preventing you from performing your
usual employment functions and duties prior to the Base Date in 2005, you shall
receive a credit of .6%, and (b)&nbsp;if your employment terminates after the
Base Date in 2005 and before the Base Date in 2007, due to death or Disability
(as defined below), you shall receive a credit of .3% for the partial year in
which the termination takes place (in addition to all credits previously
accrued).&#160; For purposes of this agreement,
&#147;Disability&#148; shall mean a physical or mental impairment that can be expected to
result in death or to last for at least 12 months, and the impairment either: (1)&nbsp;prevents
the employee from engaging in any substantial gainful activity; or (2)&nbsp;entitles
the employee to receive income replacement benefits
for at least 3 months under an accident and health plan sponsored by the
Company.</h1>

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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h1 align="left" style="font-size:10.0pt;font-weight:normal;margin:0in 0in .0001pt;text-align:left;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Treatment of Matters in Calculation of Benefits</u>.</h1>

<h1 align="left" style="font-weight:normal;margin:0in 0in .0001pt;text-align:left;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h1>

<h2 align="left" style="font-size:10.0pt;font-weight:normal;margin:0in 0in .0001pt .5in;text-align:left;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>For the purposes of
calculating the benefits payable under this Agreement, the Company will
continue to calculate Federal corporate income taxes and the corporate income
taxes for those jurisdictions in which the Company and its subsidiaries do
business, for the fiscal periods or portions thereof beginning on or after the
Base Date in 2004, as if the Company had commenced operations on the Base Date
in 2004 and as if the Company and its subsidiaries had continued to have
C&nbsp;corporation status under the Federal Internal Revenue Code and under
state and local tax laws, in accordance with the provisions of generally
accepted accounting principles and the Internal Revenue Code and regulations
thereunder and under state and local tax laws applicable to C&nbsp;corporations
as from time to time in effect (&#147;C&nbsp;Status&#148;).&#160; Such tax calculations will include
calculations of current and deferred tax expense or benefit and current and
non-current tax assets and liabilities (&#147;C&nbsp;Taxes&#148;) and the differences (&#147;Tax
Differences&#148;) between the C&nbsp;Taxes and the taxes as recorded by the Company
and its subsidiaries while being designated a qualified subchapter
S&nbsp;subsidiary (&#147;S&nbsp;Taxes&#148;).&#160; For
clarity, the tax basis of the Company&#146;s assets and liabilities will be deemed
to be the tax basis as of the Base Date in 2004, except that no net operating
loss carryforward will be deemed to exist as of such date.</h2>

<h2 align="left" style="font-weight:normal;margin:0in 0in .0001pt .5in;text-align:left;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h2>

<h2 align="left" style="font-size:10.0pt;font-weight:normal;margin:0in 0in .0001pt .5in;text-align:left;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Cumulative Income
Statement Tax Difference shall be the cumulative difference in income tax
expenses or benefit between the calculation of the C&nbsp;Taxes and
S&nbsp;Taxes, in each case calculated for the tax periods or portions thereof
beginning on or after the Base Date in 2004, and through the end of the
calculation period.&#160; Cumulative Cash Flow
Tax Difference shall be the cumulative difference in income tax payments, net
of refunds, between the calculation of the C&nbsp;Taxes and S&nbsp;Taxes in
each case made after the Base Date in 2004 and applicable to earnings of the
Company on and after the Base Date in 2004, or which would be in the case of
C&nbsp;Taxes, or are in the case of S Taxes, immediately due and payable,
contemporaneously with the payment of any Distributions, as defined below. A &#147;Distribution&#148;
for purposes of this Agreement shall mean a dividend, management fee, or any
other form of distribution to The Renco Group,&nbsp;Inc. (&#147;Renco&#148;) or an
affiliate of Renco other than a subsidiary of the Company&#160; (including a transfer to Renco of assets in
any form whether as cash or other form of value which shall have the effect of
reducing the net worth of the Company), in excess of the Renco Amount (as
defined herein), provided that payments made in respect of any debt to Renco,
including, but not limited to, principal interest and fees thereon, or the
preferred stock of the Company, including, but not limited to, dividends
thereon and redemptions thereof, shall not be a Distribution.&#160; The &#147;Renco Amount&#148; shall be equal to
$2,400,000 per annum, calculated cumulatively from the Base Date in 2002 so
that unused portions shall carry over to succeeding years.</h2>

<h2 align="left" style="font-weight:normal;margin:0in 0in .0001pt .5in;text-align:left;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h2>

<h2 align="left" style="font-size:10.0pt;font-weight:normal;margin:0in 0in .0001pt .5in;text-align:left;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>In connection with the
annual audit of the financial statements of the Company, the Company&#146;s Board of
Directors will require that the independent public accountants issue a special
report indicating their agreement with the Tax Differences.</h2>

<h2 align="left" style="font-weight:normal;margin:0in 0in .0001pt .5in;text-align:left;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h2>

<h1 align="left" style="font-size:10.0pt;font-weight:normal;margin:0in 0in .0001pt;text-align:left;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Net Worth Appreciation
Benefit</u>.&#160; Upon the termination of your employment by
the Company, other than for cause, you shall be entitled to a net worth
appreciation payment </h1>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2</font></p>

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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h1 align="left" style="font-weight:normal;margin:0in 0in .0001pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(&#147;Payment&#148;) equal to (A)&nbsp;the product
of the Vested Credits and the Net Worth Increment, as defined below, less (B)&nbsp;the
product of the Vested Credits and the Cumulative Income Statement Tax
Difference (the calculation period shall end at the end of the Company&#146;s fiscal
quarter immediately preceding your date of termination) and excluding such
Cumulative Income Statement Tax Difference to the extent equal to Cumulative
Cash Flow Tax Difference utilized in calculating amounts payable under
Paragraph&nbsp;5(a). The &#147;Net Worth Increment&#148; is the amount, if any, by which
the consolidated net worth of the Company and its subsidiaries, as at the end
of its fiscal quarter immediately preceding the date of your termination,
exceeds its consolidated net worth as of the Base Date in the Base Year,
provided, however, that any increase in consolidated net worth resulting from a
capital contribution to the Company or the sale of stock of the Company shall
be disregarded in calculating Net Worth Increment, and further provided that
preferred stock of the Company and cash payments of dividends and payments in
kind thereon shall be treated as debt of the Company for purposes of
calculating consolidated net worth.&#160; For
clarity, it is understood that the Net Worth Increment
will not include charges for interest on the restructured debt of the Company
to the extent not included as interest expense under GAAP as accounted for
under FAS 15, nor will the Tax Differences include any benefit for such
interest on such restructured debt. The determination of the independent public
accountants for the Company as to the Net Worth
Increment, made in accordance with generally accepted accounting principles,
consistently applied, shall be conclusive on each of us. If there is no Net Worth Increment, no amount shall be payable.&#160; If your employment is terminated for cause,
you shall not be entitled to receive any Payment.&#160; Any termination referred to in this agreement
shall mean separation from service from all members of The Renco Group,&nbsp;Inc.
corporate controlled group (within the meaning of Internal Revenue Code
sections 414(b), (c), (m), and (o)).</font></h1>

<h1 align="left" style="font-weight:normal;margin:0in 0in .0001pt;text-align:left;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h1>

<h1 align="left" style="font-size:10.0pt;font-weight:normal;margin:0in 0in .0001pt;text-align:left;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Payment</u>.&#160; The Payment shall be payable to you
(or your designee or estate) in 40 equal quarterly installments, without
interest, commencing three months after the termination of your employment, and
at 3 month intervals thereafter.&#160;
Notwithstanding any provision in this Agreement, the Company shall not
be required to pay you (i)&nbsp;any Payment, where the making of such Payment
would violate any agreement between the Company and any lender of the Company,
or (ii)&nbsp;in the event that any agreement between the Company and any lender
of the Company limits the aggregate amount that the Company may pay as bonuses,
net worth appreciation payments, profit sharing payments or other payments of
similar nature (&#147;Restricted Payments&#148;) during any period, any Payment in excess
of your pro rata portion of the aggregate amount of applicable Restricted
Payments which the Company is permitted to pay.&#160;
In the event that the Company is unable to make a Payment due to the
preceding sentence, the Company&#146;s obligation to make such Payment shall be
deferred until such time that the Company is permitted to make such Payment
pursuant to the preceding sentence.</h1>

<h1 align="left" style="font-weight:normal;margin:0in 0in .0001pt;text-align:left;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h1>

<h1 align="left" style="font-size:10.0pt;font-weight:normal;margin:0in 0in .0001pt;text-align:left;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Dividends; Sale of Substantially All of the
Company&#146;s Stock or Assets</u>.</h1>

<h1 align="left" style="font-weight:normal;margin:0in 0in .0001pt;text-align:left;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h1>

<h2 align="left" style="font-size:10.0pt;font-weight:normal;margin:0in 0in .0001pt .5in;text-align:left;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>If and in the event that
the Company shall make a Distribution while you shall be employed by the
Company, then you shall be entitled to receive, as additional compensation, (&#147;Additional
Compensation Benefit&#148;) an amount equal to (A)&nbsp;the excess of&#160; (i)&nbsp;the product of the Maximum Credit
and the cumulative Distributions paid by the Company subsequent to the Base
Date in the Base Year over (ii)&nbsp;the product of the Maximum Credit and any
positive Cumulative Cash Flow Tax Difference less (B)&nbsp;the amount of
Additional Compensation Benefit previously paid to you subsequent to the </h2>

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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3</font></p>

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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h2 align="left" style="font-size:10.0pt;font-weight:normal;margin:0in 0in .0001pt .5in;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Base Date in the Base
Year.</font>&#160; This
provision shall not apply to intercompany payments among the Company and its
own wholly-owned subsidiaries or among two wholly-owned subsidiaries of the
Company, or to reimbursement to Renco for a proportionate part of costs, such
as audit charges and insurance premiums, paid by Renco on behalf of itself and
its subsidiaries, including the Company;</h2>

<h2 align="left" style="font-weight:normal;margin:0in 0in .0001pt .5in;text-align:left;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h2>

<h2 align="left" style="font-size:10.0pt;font-weight:normal;margin:0in 0in .0001pt .5in;text-align:left;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>If, while you shall be
employed by the Company (and whether before or after the Base Date in 2007),
all or substantially all the stock or assets of the Company shall be sold to a
person who is not an affiliate of Ira Leon Rennert, or if The Renco Group,&nbsp;Inc.
sells a controlling interest in the Company, then, upon the closing of such
sale, your full Maximum Credit shall be deemed to be vested, and you shall be
entitled to receive, in kind and on the same terms and conditions as the
Company or its shareholder is being paid as payment in full of your
participation, an amount equal to (A)&nbsp;the product of the Maximum Credit
and any Net Proceeds (as defined below) of the sale, plus (B)&nbsp;the product
of the Maximum Credit and the cumulative Distributions paid by the Company
subsequent to the Base Date in the Base Year, less (C)&nbsp;the product of the
Maximum Credit and the Cumulative Income Statement Tax Difference through the
date of sale, and less (D)&nbsp;the amount of any Additional Compensation
Benefit previously paid to you subsequent to the Base Date in the Base
Year.&#160; &#147;Net Proceeds&#148;, for purposes
hereof, shall be equal to the amount, if any, of&#160; the proceeds of the sale after deducting all
expenses of the sale, all applicable federal, state and local taxes, all
liabilities retained by the seller, and all amounts paid or due to holders of
the Company&#146;s preferred stock. Except for such payment, neither you nor the
Company shall have any further rights or liabilities hereunder.</h2>

<h2 align="left" style="font-weight:normal;margin:0in 0in .0001pt .5in;text-align:left;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h2>

<h1 align="left" style="font-size:10.0pt;font-weight:normal;margin:0in 0in .0001pt;text-align:left;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Condition Precedent</u>. The Company&#146;s obligation to make the Payment to
you shall be conditioned on your faithful adherence to your employment arrangements
with the Company and on your refraining from engaging, during the period over
which such payments are to be made to you, directly or indirectly in any
activity which is competitive with the business engaged in by the Company at
the date of termination of your employment.&#160;
If you do engage in any such competitive activities, then we shall no
longer be obligated to make any payments to you hereunder.</h1>

<h1 align="left" style="font-weight:normal;margin:0in 0in .0001pt;text-align:left;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h1>

<h1 align="left" style="font-size:10.0pt;font-weight:normal;margin:0in 0in .0001pt;text-align:left;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Notice</u>.&#160; Any notices to be sent pursuant
hereto shall be sent by hand, certified or registered mail or overnight service
to you, at the address indicated above and a copy to The Renco Group,&nbsp;Inc.
at 30&nbsp;Rockefeller Plaza, New York, NY 10112, 42<sup>nd</sup>&nbsp;floor,
to the attention of Ira Leon Rennert, or to any other address which the Company
or Renco may designate by notice in writing.</h1>

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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4</font></p>

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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Please confirm that the foregoing correctly sets forth
our full agreement with respect to your net worth appreciation benefit by
signing and returning the enclosed copy of this letter.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="54%" valign="top" style="padding:0in 0in 0in 0in;width:54.34%;">
  <p style="margin:0in 0in .0001pt;page-break-after:auto;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="45%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:45.66%;">
  <p style="margin:0in 0in .0001pt;page-break-after:auto;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Very truly yours,</font></p>
  </td>
 </tr>
 <tr>
  <td width="54%" valign="top" style="padding:0in 0in 0in 0in;width:54.34%;">
  <p style="margin:0in 0in .0001pt;page-break-after:auto;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="45%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:45.66%;">
  <p style="margin:0in 0in .0001pt;page-break-after:auto;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="54%" valign="top" style="padding:0in 0in 0in 0in;width:54.34%;">
  <p style="margin:0in 0in .0001pt;page-break-after:auto;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="45%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:45.66%;">
  <p style="margin:0in 0in .0001pt;page-break-after:auto;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="54%" valign="top" style="padding:0in 0in 0in 0in;width:54.34%;">
  <p style="margin:0in 0in .0001pt;page-break-after:auto;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="45%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:45.66%;">
  <p style="margin:0in 0in .0001pt;page-break-after:auto;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Doe Run
  Resources Corporation.</font></p>
  </td>
 </tr>
 <tr>
  <td width="54%" valign="top" style="padding:0in 0in 0in 0in;width:54.34%;">
  <p style="margin:0in 0in .0001pt;page-break-after:auto;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="45%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:45.66%;">
  <p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:3.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="54%" valign="top" style="padding:0in 0in 0in 0in;width:54.34%;">
  <p style="margin:0in 0in .0001pt;page-break-after:auto;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="45%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:45.66%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="54%" valign="top" style="padding:0in 0in 0in 0in;width:54.34%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="40%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:40.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Ira Leon Rennert</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.16%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="54%" valign="top" style="padding:0in 0in 0in 0in;width:54.34%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="45%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:45.66%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Ira Leon Rennert</font></p>
  </td>
 </tr>
 <tr>
  <td width="54%" valign="top" style="padding:0in 0in 0in 0in;width:54.34%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="45%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:45.66%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Chairman of the Board</font></p>
  </td>
 </tr>
</table>

<p style="margin:0in 0in .0001pt 3.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:auto;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Accepted and Agreed to:</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="22%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:22.76%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Marvin Kaiser</font></p>
  </td>
  <td width="77%" valign="top" style="padding:0in 0in 0in 0in;width:77.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="100%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:100.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Marvin Kaiser</font></p>
  </td>
 </tr>
</table>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5</font></p>

<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
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