Cleveland-Cliffs Iron Sub Trust 15824-Ccisub

Supplemental Information

“Form 990, part vi, section a, lines 1a & 1b & part vii the bank of new york mellon serves as the sole directed trustee of this trust. The plan sponsor is cliffs natural resources, inc. The trust is administered by the plan sponsor in accordance with the terms of the trust agreement. As such, the veba does not have a governing body that exercises discretion. Form 990, part vi, sections a & b, lines 8, 12-15 these questions are not applicable to the trust. Additionally, the trust does not have any employees, therefore, no processes related to employee compensation are in place. Form 990, part vi, section b, line 11b a complete electronic copy of the organization's form 990 was provided to the trustee for review prior to filing with the irs. Form 990, part vi, section c, line 19 as a 501(c)(17) organization, the trust is not required to make the documents referenced in question 19 available to the general public. Form 990, part vii, section a, line 1a, column (b) average hours per week devoted to position: as trustee, the bank of new york mellon provides administrative services such as acting as investment manager for cleveland-cliffs iron sub trust. These services require numerous individual bank employees' involvement in the activities of the organization and thus cannot be quantified on an hourly basis, but are calculated based upon factors such as the market value of the account and in accordance with the bank of new york mellon's agreement with cliffs natural resources, inc.”