EXHIBIT 10.1C

THIRD AMENDMENT TO CREDIT AGREEMENT

This THIRD AMENDMENT TO CREDIT AGREEMENT (this “Amendment”) is made and entered
into effective as of the 28th day of December, 2011 (the “Third Amendment
Effective Date”), by and among OXFORD MINING COMPANY, LLC, an Ohio limited
liability company (the “Borrower”), the Lenders party hereto, CITICORP USA,
INC., as administrative agent (the “Administrative Agent”), and the other
parties signatory hereto.

RECITALS

WHEREAS, the above-named parties have entered into that certain Credit Agreement
dated as of July 6, 2010, as amended by that certain First Amendment to Credit
Agreement and Limited Waiver dated as of July 15, 2010, and as further amended
by that certain Second Amendment to Credit Agreement and Limited Waiver dated as
of August __, 2010 (and as may be further amended, restated, modified or
supplemented from time to time, the “Credit Agreement”), by and among the
Borrower, the Lenders, the Administrative Agent and the other parties signatory
thereto; and

WHEREAS, the Borrower has requested that the Lenders and the Administrative
Agent amend certain provisions of the Credit Agreement, and said parties are
willing to do so subject to the terms and conditions set forth herein, provided
that the Borrower and the Guarantors ratify and confirm all of their respective
obligations under the Credit Agreement and each other Loan Document to which
each is a party;

NOW, THEREFORE, in consideration of the foregoing and the mutual covenants set
forth in this Amendment, the Borrower, the Lenders party hereto, the
Administrative Agent and the other parties signatory hereto agree as follows:

1. Defined Terms. Unless otherwise defined herein, capitalized terms used herein
have the meanings assigned to them in the Credit Agreement.

2. Amendment to Section 5.04(a). Section 5.04(a) of the Credit Agreement is
hereby amended to read in its entirety as follows:

(a) Leverage Ratio. Maintain a Leverage Ratio for any date of determination
during each of the below-indicated periods as follows:

 

Period    Leverage Ratio  

Effective Date through December 31, 2011

     2.75:1.00   

January 1, 2012 through June 30, 2012

     3.25:1.00   

July 1, 2012 and thereafter

     3.00:1.00   

3. Amendment to Section 5.04(c) The first paragraph of Section 5.04(c) of the
Credit Agreement is hereby amended to read in its entirety as follows:

(c) Maximum Capital Expenditures. Not make, or permit any of its Subsidiaries to
make, any Capital Expenditures that would cause the aggregate of all Capital
Expenditures made by the MLP and its Subsidiaries in any period set forth below
to exceed the amount set forth below for such period (the “Scheduled Amount”):

 

1

--------------------------------------------------------------------------------

Period of Fiscal

Year Ending

   Capital Expenditure
Amount   December 31, 2010*    $ 17,000,000   

December 31, 2011

   $ 43,000,000   

December 31, 2012

   $ 45,000,000   

December 31, 2013

   $ 45,000,000   

December 31, 2014

   $ 40,000,000   

 

* For the period of such Fiscal Year from the Effective Date on.

provided, however, that (i) the amount of Capital Expenditures that may be made
in any Fiscal Year shall be increased above the Scheduled Amount by the
aggregate amount of Net Cash Proceeds received in such Fiscal Year from the
issuance of equity of the MLP (the “Equity Proceeds”) and, to the extent the
Equity Proceeds are not spent in such Fiscal Year (such unspent amount, the
“Unused Equity Proceeds”), the amount of Capital Expenditures that may be made
in the immediately succeeding Fiscal Year, and only for such immediately
succeeding Fiscal Year, shall be increased above the Scheduled Amount by the
amount of such Unused Equity Proceeds and (ii) if, for any Fiscal Year set forth
above, the Scheduled Amount specified for such Fiscal Year exceeds the aggregate
amount of Capital Expenditures made by the MLP and its Subsidiaries during such
Fiscal Year which are applied to the Scheduled Amount (the amount of such excess
being the “Excess Amount”), the Borrower and its Subsidiaries shall be entitled
to make additional Capital Expenditures in the immediately succeeding Fiscal
Year, and only for such immediately succeeding Fiscal Year, in an amount equal
to such Excess Amount, but not to exceed $10,000,000; provided that, solely for
purposes of calculating the Excess Amount with regard to the Fiscal Year Ending
December 31, 2010, the Scheduled Amount shall be deemed to be $15,000,000.

4. Conditions to Effectiveness. This Amendment shall be effective on the Third
Amendment Effective Date upon satisfaction of each of the following conditions:

(i) The Administrative Agent (or its counsel) shall have received from each of
the Borrower, the Guarantors and the Lenders constituting at least the Required
Lenders either (a) a counterpart of this Amendment signed on behalf of such
party or (b) written evidence satisfactory to the Administrative Agent (which
may include telecopy transmission of a signed signature page of this Amendment)
that such party has signed a counterpart of this Amendment.

(ii) The Administrative Agent shall have received all documents and other items
that it may reasonably request relating to any other matters relevant hereto,
all in form and substance satisfactory to the Administrative Agent.

(iii) The Administrative Agent shall have received the fee referenced in
Section 13(i) below.

(iv) No Default or Event of Default exists after giving effect to this
Amendment.

--------------------------------------------------------------------------------

5. Representations and Warranties. Each Loan Party hereby confirms that the
representations and warranties contained in the Credit Agreement and the other
Loan Documents made by it are true and correct as of the date hereof, except to
the extent such representations and warranties specifically relate to an earlier
date, in which case they were true and correct as of such earlier date. Each
Loan Party also hereby confirms that this Amendment has been duly authorized by
all necessary corporate action and constitutes the legal, valid and binding
obligation of each Loan Party, subject to the effect of any applicable
bankruptcy, insolvency, reorganization, moratorium or similar Laws affecting
creditors’ rights and remedies generally and to the effect of general principles
of equity.

6. Continuing Effect of the Credit Agreement. This Amendment shall not
constitute a waiver of any provision not expressly referred to herein and shall
not be construed as a consent to any action on the part of any Loan Party that
would require a waiver or consent of the Lenders or an amendment or modification
to any term of the Loan Documents except as expressly stated herein. Except as
expressly modified hereby, the provisions of the Credit Agreement and the Loan
Documents are and shall remain in full force and effect.

7. Ratification. Each Loan Party hereby confirms and ratifies the Credit
Agreement and each of the other Loan Documents to which it is a party, as
amended hereby, and acknowledges and agrees that the same shall continue in full
force and effect, as amended hereby.

8. Counterparts. This Amendment may be executed by all parties hereto in any
number of separate counterparts, each of which may be delivered in original,
electronic or facsimile form and all of which taken together shall be deemed to
constitute one and the same instrument.

9. References. The words “hereby,” “herein,” “hereinabove,” “hereinafter,”
“hereinbelow,” “hereof” and “hereunder” and words of similar import when used in
this Amendment shall refer to this Amendment as a whole and not to any
particular article, section or provision of this Amendment. References in this
Amendment to a section number are to such section of this Amendment unless
otherwise specified.

10. Headings Descriptive. The headings of the several sections and subsections
of this Amendment are inserted for convenience only and shall not in any way
affect the meaning or construction of any provision of this Amendment.

11. Governing Law. This Amendment shall be governed by and construed in
accordance with the law of the State of New York, without regard to such state’s
conflict of laws rules.

12. Release by Loan Parties. Each Loan Party does hereby release and forever
discharge the Administrative Agent and each of the Lenders and each affiliate
thereof and each of their respective employees, officers, directors, trustees,
agents, attorneys, successors, assigns or other representatives from any and all
claims, demands, damages, actions, cross-actions, causes of action, costs and
expenses (including legal expenses) of any kind or nature whatsoever known to
any Loan Party, whether based on law or equity, which any of said parties has
held or may now own or hold, for or because of any matter or thing done, omitted
or suffered to be done on

--------------------------------------------------------------------------------

or before the actual date upon which this Amendment is signed by any of such
parties (i) arising directly or indirectly out of the Credit Agreement, Loan
Documents, or any other documents, instruments or transactions relating thereto,
and/or (ii) relating directly or indirectly to all transactions by and between
any Loan Party or its representatives and the Administrative Agent and each
Lender or any of their respective directors, officers, agents, employees,
attorneys or other representatives and, in either case, whether or not caused by
the sole or partial negligence of any released party. Such release, waiver,
acquittal and discharge shall and does include any claims of any kind or nature
which may, or could be, asserted by any Loan Party.

13. Fees and Expenses.

(i) In connection with this Amendment and as a condition to its effectiveness,
the Borrower agrees to pay to the Administrative Agent for the ratable benefit
of the Lenders executing this Amendment, in immediately available funds, a
non-refundable amendment fee in the amount of 0.25% of the currently outstanding
Commitments which shall be fully earned, due and payable in immediately
available funds on or before the Third Amendment Effective Date.

(ii) The Borrower hereby confirms its obligation pursuant to Section 8.05(a) of
the Credit Agreement to pay and reimburse the Administrative Agent for all
reasonable costs and expenses (including, without limitation, reasonable fees of
counsel) of the Administrative Agent incurred in connection with the
negotiation, preparation, execution and delivery of this Amendment and all other
documents and instruments delivered in connection herewith.

14. Final Agreement of the Parties. THIS AMENDMENT, THE CREDIT AGREEMENT AND THE
OTHER LOAN DOCUMENTS REPRESENT THE FINAL AGREEMENT BETWEEN THE PARTIES AND MAY
NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS OR SUBSEQUENT ORAL
AGREEMENTS OF THE PARTIES. THERE ARE NO UNWRITTEN ORAL AGREEMENTS AMONG THE
PARTIES.

[Signature Pages Follow]

--------------------------------------------------------------------------------

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed
by their respective officers thereunto duly authorized as of the Third Amendment
Effective Date.

 

OXFORD MINING COMPANY, LLC, an Ohio limited liability company By:   /s/ Jeffrey
M. Gutman           Jeffrey M. Gutman,   Senior Vice President and   Chief
Financial Officer

 

OXFORD RESOURCE PARTNERS, LP, a Delaware limited partnership         By:  

Oxford Resources GP, LLC, a Delaware

limited liability company, its general partner

        By:   /s/ Jeffrey M. Gutman           Jeffrey M. Gutman,   Senior Vice
President and   Chief Financial Officer

 

OXFORD MINING COMPANY-KENTUCKY, LLC, a Kentucky limited liability company By:  
/s/ Jeffrey M. Gutman           Jeffrey M. Gutman,   Senior Vice President and  
Chief Financial Officer

 

DARON COAL COMPANY, LLC, an Ohio limited liability company

By:   /s/ Jeffrey M. Gutman           Jeffrey M. Gutman,   Vice President

--------------------------------------------------------------------------------

CITICORP USA, INC.,

as Administrative Agent

By:   /s/ Raymond G. Dunning           Raymond G. Dunning   Vice President

--------------------------------------------------------------------------------

CITIBANK, N.A.,

as Lender

By:   /s/ Raymond G. Dunning           Raymond G. Dunning   Vice President

--------------------------------------------------------------------------------

BARCLAYS BANK PLC,

as Lender

By:   /s/ Michael Mozer         Name:   Michael Mozer Title:   Vice President

--------------------------------------------------------------------------------

HUNTINGTON NATIONAL BANK,

as Lender

By:   /s/ Jared Shaner           Jared Shaner   Staff Officer

--------------------------------------------------------------------------------

FIFTH THIRD BANK, AN OHIO BANKING CORPORATION, as Lender

By:   /s/ Partrick Lingrosso          

--------------------------------------------------------------------------------

COMERICA BANK,

as Lender

By:   /s/ Laura O’Leary           Laura O’Leary   Corporate Banking Officer

--------------------------------------------------------------------------------

CATERPILLAR FINANCIAL SERVICES

CORPORATION, as Lender

By:   /s/ Paul L. Owen           Paul L. Owen

--------------------------------------------------------------------------------

SOCIÉTÉ GÉNÉRALE,

as Lender

By:   /s/ Daniel Ota           Daniel Ota   Director

 

--------------------------------------------------------------------------------

CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH, as Lender

By:       /s/ Christopher Reo Day           Christopher Reo Day   Vice President

By:

 

    /s/ Sanja Gazalli

  Sanja Gazalli   Associate

--------------------------------------------------------------------------------

WELLS FARGO BANK, N.A.,

as Lender

By:   /s/ Arnold W. Adkins, Jr.           Arnold W. Adkins, Jr.   Senior Vice
President

--------------------------------------------------------------------------------

RAYMOND JAMES BANK, FSB,

as Lender

By:   /s/ Scott G. Axelrod           Scott G. Axelrod   Vice President