CLEVELAND CLIFFS INC
AMENDMENT TO RESTRICTED SHARES AGREEMENTS
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<DESCRIPTION>AMENDMENT TO RESTRICTED SHARES AGREEMENTS
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 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="right"><FONT FACE="Times New Roman" SIZE="2"><B>Exhibit 10(z) </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px" ALIGN="center"><FONT
FACE="Times New Roman" SIZE="2">CLEVELAND-CLIFFS INC </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">Amendment </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px" ALIGN="center"><FONT
FACE="Times New Roman" SIZE="2">to </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">Restricted Shares Agreements </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px" ALIGN="center"><FONT
FACE="Times New Roman" SIZE="2">for </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">John S. Brinzo </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"
ALIGN="justify"><FONT FACE="Times New Roman" SIZE="2">This Amendment is executed as of the date set forth below by Cleveland-Cliffs Inc (the &#147;Company&#148;); </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT
FACE="Times New Roman" SIZE="2">WITNESSETH: </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%" ALIGN="justify"><FONT FACE="Times New Roman" SIZE="2">WHEREAS, Cleveland Cliffs Inc (the &#147;Company&#148;) established the 1992
Incentive Equity Plan (the &#147;Plan&#148;), under which the Company has granted shares of Common Stock to certain eligible employees by entering into Restricted Shares Agreements with such employees at various times; and </FONT></P> <P
STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%" ALIGN="justify"><FONT FACE="Times New Roman" SIZE="2">WHEREAS, in conjunction with the Plan, the Company has entered into various Restricted Shares Agreements with John S. Brinzo (the
&#147;Brinzo Restricted Shares Agreements&#148;); and </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%" ALIGN="justify"><FONT FACE="Times New Roman" SIZE="2">WHEREAS, the Company reserved the right to waive the restrictions
applicable Common Shares granted under any Restricted Shares Agreement pursuant to Section&nbsp;2 of such Restricted Shares Agreements; and </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%" ALIGN="justify"><FONT
FACE="Times New Roman" SIZE="2">WHEREAS, the Company desires to amend the Brinzo Restricted Shares Agreements, effective September&nbsp;1, 2006, in order to waive certain restrictions on the Common Shares granted under such Brinzo Restricted Shares
Agreements; </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>

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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%" ALIGN="justify"><FONT FACE="Times New Roman" SIZE="2">NOW, THEREFORE, pursuant to Section&nbsp;2 of the Restricted Shares Agreements,
Section&nbsp;2 of Brinzo&#146;s Restricted Shares Agreements are hereby amended, effective September&nbsp;1, 2006, by the addition of a new sentence at the end of such Section to read as follows: </FONT></P> <P
STYLE="margin-top:6px;margin-bottom:0px; text-indent:8%" ALIGN="justify"><FONT FACE="Times New Roman" SIZE="2">&#147;In accordance with the previous sentence, effective September&nbsp;1, 2006, all restrictions on the Grantee&#146;s sale or transfer
of stock granted under this Agreement, to the extent still applicable, shall lapse as of the day following the date of the Company&#146;s May 2007 stockholder meeting, provided the Grantee remains the non-employee Chairman of the Board of Directors
of the Company until such date and provided that the Grantee shall also retire from the Board of Directors as of such date.&#148; </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%" ALIGN="justify"><FONT FACE="Times New Roman"
SIZE="2">IN WITNESS WHEREOF, the Company by its appropriate officer, duly authorized, has executed this Amendment as of this 18th day of September, 2006. </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P><DIV
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<TD VALIGN="top" COLSPAN="3"> <P ALIGN="justify"><FONT FACE="Times New Roman" SIZE="2">CLEVELAND-CLIFFS INC</FONT></P></TD></TR>
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<TD VALIGN="top"> <P ALIGN="justify"><FONT FACE="Times New Roman" SIZE="2">By:</FONT></P></TD>
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<TD VALIGN="top"> <P STYLE="margin-bottom:1px;border-bottom:1px solid #000000" ALIGN="justify"><FONT FACE="Times New Roman" SIZE="2">/s/ Joseph A. Carrabba</FONT></P></TD></TR>
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