Exhibit 10(g)





                     CLEVELAND-CLIFFS INC AND SUBSIDIARIES
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                     MANAGEMENT PERFORMANCE INCENTIVE PLAN
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                                    SUMMARY
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                           Effective January 1, 1994

1.     The Management Performance Incentive Plan ("MPI Plan") provides a
       significant financial incentive for designated management employees of
       Cleveland-Cliffs Inc and subsidiaries (the "Company") to maximize
       Company, unit, and personal performance in achieving current results and
       longer range objectives.  The Plan is designed to place a significant
       portion of annual compensation at risk with performance and to provide
       above average total compensation for outstanding performance.

2.     The MPI Plan is administered by Cleveland-Cliffs Inc's Compensation and
       Organization Committee ("Committee") which is composed of non-employee
       Directors, none of whom are eligible to participate in the Plan.

3.     Participants in the Plan are officers and salaried employees in
       designated management positions.  The number of designated management
       positions is controlled through the salaried position classification
       process to maintain an efficient ratio of management to non-management
       employees.

4.     Each position is classified in a salary grade based on a study of
       national compensation data and internal organizational relationships.
       Position classifications are periodically reviewed to maintain a
       compensation level which is competitive with similar positions in
       similar companies.  The general objective is to establish salary grades
       based on the 50th percentile of survey data.

5.     The study of national compensation data includes determination of
       typical performance bonus payments for management positions at various
       responsibility levels.  This data is used to determine a competitive
       percentage "target bonus" based upon the salary range midpoint.  All
       jobs in a salary grade have the same target bonus.  The percentage
       targets may be revised periodically according to survey data.

6.     The Chief Executive Officer ("CEO") approves the classification, salary
       range, and percentage target bonus for all management positions except
       officer positions of Secretary rank and higher which are approved by the
       Committee.  The Committee is provided a list of all position
       classifications, salary ranges and target bonuses annually.


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7.     In January, after consulting with the CEO and considering various
       regular and special reports, actual trends and the status of annual
       goals, and general industry performance, the Committee determines the
       general Company performance for the prior calendar year.  On the basis
       of this determination, the Committee designates a corresponding
       percentage which is applied to the aggregate target bonuses of the
       participating employees to generate a General Bonus Pool from which
       individual bonuses will be awarded.  Such Pool can be zero and cannot
       exceed 200 percent of the aggregate target bonuses.

8.     Individual bonus awards for officers are determined by the Committee
       after consultation with the CEO.  Awards for all other participants are
       determined by the CEO after consultation with responsible officers and
       reviewed by the Committee for conformance to its parameters.  Awards
       reflect the performance of the participant and of the unit for which the
       participant is responsible.  A bonus for an individual can vary from 0
       to 200 percent of the individual's target bonus.

9.     At the discretion of the Committee and subject to the availability of
       authorized stock, awards may be made in cash or shares of
       Cleveland-Cliffs Inc stock or a combination thereof, and restrictions
       may be placed on the vesting of any stock award.

10.    Generally, bonus payments to participants will be made by the end of
       February for the prior calendar year after audited financial results are
       determined.

11.    Following designation as a participant in the Plan and prior to the
       payment of a bonus, neither the participant nor the estate or anyone
       claiming through such participant has any right to share in the bonus
       pool for such year.  However, the Plan provides, at the sole discretion
       of the Committee and the CEO, that awards may be made to a participant
       whose employment terminates during the calendar year or to the
       participant's beneficiaries when circumstances warrant favorable
       consideration for an award for such year.

12.    A participant has no right, title or interest in any assets of
       Cleveland-Cliffs Inc and subsidiaries by reason of any award made
       pursuant to this Plan and such award reflects only an unsecured
       contractual obligation to make the payment to the participant of the
       approved award under the terms and conditions of the Plan.

13.    The Board of Directors may modify or terminate this Plan at any time.