the FWR Conference Call
on Friday, December 4, 2009.

Quoting Warren Irwin

"Second thing I was wondering if the board has considered is whether they've considered reducing the 6.5 million dollar payment to uh, senior management. I take this a bit personally because, uh myself, given the number of units I have here, um, 300,000 of that money is coming out of my pocket, and I'm wondering whether the board has stepped forward to reduce that number for us all"


"It's Neil Wiener speaking
So those are binding agreements of Freewest and they will stay in place as we go forward."


But the NR today says

"Moreover, when Cliffs and Freewest entered into a definitive arrangement agreement on November 23, 2009, Freewest"s senior management agreed to reduce the change of control payments due to them from $6.5 million to $2.5 million. Management did so because they believe Cliffs" offer is in the best interests of Freewest and its shareholders."

Say what? This was not the answer when Warren Irwin asked the question Dec4.