Side Letter Amendment to Product Sales Agreement between Geneva Steel LLC and Ferrostaal Incorporated

Summary

Geneva Steel LLC and Ferrostaal Incorporated have agreed to amend their Product Sales Agreement by clarifying that operations under the agreement will begin on August 15, 2001, instead of the originally stated effective date of August 1, 2001. This amendment is formalized through a signed side letter and is valid even if executed in counterparts or by facsimile.

EX-10.20 7 z50972a3ex10-20.txt SIDE LETTER AMENDMENT TO PRODUCT SALES AGENT 1 EXHIBIT 10.20 GENEVA STEEL LLC 10 SOUTH GENEVA ROAD VINEYARD, UTAH August 14, 2001 VIA FACSIMILE Ferrostaal Incorporated 16510 Northchase Drive Houston, Texas 77060 Attention: John Foster Re: Product Sales Agreement dated as of August 1, 2001 (the "Agreement") between Geneva Steel LLC and Ferrostaal Incorporated. Dear John: In connection with the above-referenced Agreement, I am writing to clarify the date on which the parties intend to commence operations under the Agreement. The Agreement sets forth the effective date of the Agreement as August 1, 2001. Due to unavoidable circumstances, however, the Agreement was not actually signed by both parties until August 15, 2001. Accordingly, the parties have agreed that they will commence operations under the Agreement as of August 15, 2001. This letter of agreement may be executed in counterparts, each of which shall be deemed an original but all of which shall constitute one and the same instrument. A facsimile copy of this letter of agreement shall be valid as an original. If this letter accurately reflects our understanding with respect to the matters discussed herein, please sign this document below and return it to me. Sincerely, Marcus Phillips ACKNOWLEDGED AND AGREED TO: Ferrostaal Incorporated By /s/ JOHN FOSTER ------------------- John Foster