Amended and Restated Change in Control Severance Agreement



  
 Exhibit 10.1

 CHANGE IN CONTROL SEVERANCE AGREEMENT 

AS AMENDED AND RESTATED 
 THIS CHANGE IN CONTROL SEVERANCE AGREEMENT (this “Agreement”) is made on October 22, 2010 (the “Effective Date”) between Massey Energy Company, a Delaware corporation (the
“Company”), and DON L. BLANKENSHIP (the “Executive”) and amends, restates and supercedes the Change in Control Severance Agreement as last modified by amendment dated February 16, 2010 between the Company and Executive, as
the same may have previously been amended (the “Prior Agreement”). 
 WITNESSETH: 

WHEREAS, Executive is a senior executive of the Company or one of its Subsidiaries (as defined below) and has made and is expected to
continue to make major contributions to the short-term and long-term profitability, growth and financial strength of the Company; and 
 WHEREAS, the Board of Directors of the Company (the “Board,” as defined in Section 23) recognized that, as is the case with many publicly-held corporations, the possibility of a Change in
Control (as defined in Section 23) exists and that such possibility, and the uncertainty and questions which it may raise among management, may result in the departure or distraction of key management personnel to the detriment of the Company
and its stockholders; and 
 WHEREAS, the Board has determined that appropriate steps should be taken to reinforce and encourage
the continued attention and dedication of, and to contract for the continued rendering of services by, members of the Company’s management, including Executive, in connection with their assigned duties without distraction in the face of
potentially disturbing circumstances, and without the Company’s loss of needed personnel, arising from the possibility of a Change in Control; and 
 WHEREAS, in consideration of Executive’s continued employment with the Company, the Company desired to provide Executive with certain compensation and benefits set forth in this Agreement in order to
ameliorate the financial and career impact on Executive in the event Executive’s employment with the Company is terminated for a reason related to a Change in Control; and 

WHEREAS, the Company and the Executive previously entered into the Prior Agreement, effective as provided therein; and 

WHEREAS, the Company and the Executive now desire to amend and restate the Prior Agreement in order to eliminate the excise tax gross-up
provided under the Prior Agreement, to express the understanding of Executive that the Company is not liable to Executive in the event any compensation or benefits provided to Executive are subject to any additional income tax, interest or penalties
imposed under Section 409A of the Internal Revenue Code of 1986, as amended, and to revise and clarify provisions of the Prior Agreement which pertain to severance benefits or which are no longer applicable. 

NOW, THEREFORE, in consideration of the foregoing and the mutual covenants and agreements hereinafter set forth (including definitions of
capitalized terms which are set forth in Section 23 and throughout this Agreement) and intending to be legally bound hereby, the Company and Executive agree as follows: 
 1. Obligations of Executive to Remain Employed. Executive agrees that in the event any person or group attempts a Change in Control and he is either notified by the Board or aware of an attempted
Change in Control, he shall not, without the written agreement of the Board, voluntarily leave the employ of the Company other than by reason of a Constructive Termination Associated With a Change in Control (as defined in Section 23)
(i) until such attempted Change in Control terminates or (ii) if a Change in Control shall occur, until the 







 
occurrence of such actual Change in Control. For purposes of the foregoing clause (i) and this Agreement, Constructive Termination Associated With a Change in Control shall be determined,
except as expressly provided in the definition of the term, as if a Change in Control had occurred when such attempted Change in Control (which is sometimes referred to herein as a “potential”, as opposed to an “actual”, Change
in Control) became known to the Board. For purposes of this Agreement, any decision by the Board that the person or group has abandoned or terminated his or its efforts to effect a Change in Control shall be conclusive and binding on Executive.

 2. Termination Associated With a Change in Control. 

(a) Involuntary Termination Associated With a Change in Control. Executive shall be entitled to the payments and
benefits provided in Section 2(b) in the event Executive’s employment is terminated after, or in connection with, a Change in Control, on account of: 
 (i) an Involuntary Termination Associated With a Change in Control (as defined in Section 23) within the two-year period after an actual Change in Control, 

(ii) a termination by the Company, other than for Cause (as defined in Section 23) or other than due to
Executive’s death or Disability (as defined in Section 23), that (A) occurs not more than three (3) months prior to the date on which an actual Change in Control occurs or (B) is requested by a third party who initiates and
effects an actual Change in Control, or 
 (iii) a termination by Executive that occurs after a potential Change
in Control but before an actual Change in Control and is considered a Constructive Termination Associated With a Change in Control. 
 For purposes of clause (ii)(B) in the preceding sentence, to be eligible to receive amounts described in Section 2(b) below, a Change in Control must be consummated within the twelve (12) month
period following Executive’s Termination Date (as defined in Section 23), except in circumstances pursuant to which the consummation of the Change in Control is delayed, through no failure of the Company or the third person, by a
governmental or regulatory authority or agency with jurisdiction over the matter, or as a result of other similar circumstances. In such a circumstance, the remainder of the twelve (12) month period shall be tolled and shall recommence upon
termination of the delaying event. 
 (b) Payments Upon Involuntary Termination Associated With a Change in
Control. Subject to the provisions of Section 2(c) or Sections 3 and 6 hereof, in the event a termination described in Section 2(a) occurs, the Company shall pay and provide to Executive on or beginning, as applicable, the first
business day that occurs following sixty (60) days after his Termination Date or, where Executive is entitled to benefits under this Agreement by reason of clause (ii) or (iii) of Section 2(a) above, the later of as soon as
administratively feasible after the date an actual Change in Control occurs or the first business day that occurs following sixty (60) days after his Termination Date (contingent on the execution of the release without revocation as
contemplated in Section 4 hereof): 
 (i) a lump sum cash payment equal to $5,500,000 plus 2.5 times
Executive’s Base Pay (as defined in Section 23); 
 (ii) any payment expressly due in connection with a
Change in Control which is provided in Executive’s employment agreement (as of January 1, 2010 Executive’s employment agreement provides for an additional $2,000,000 payment if executive is entitled to payments and benefits under this
Agreement); 

  
 2 








  
 (iii)
any award under the Company’s long-term cash and equity incentive program, including stock option, restricted stock, restricted unit, other equity- or cash-based incentive awards or other equity- or cash-based incentive agreements, which by its
terms vests in connection with the Change in Control, provided that payment of such award shall be determined solely by the terms of such award and any plan, program or arrangement which controls its determination and payment and provided, further,
that any performance-based award relating to a performance period beginning on or after January 1, 2008 is hereby amended to eliminate vesting on the occurrence of a Change in Control (as defined herein) or change in control (as defined in
connection with any such award) , whether such award is now outstanding or awarded in the future; and 
 (iv) for
a period of 24 months following his Termination Date, Executive shall continue to receive on a monthly basis the medical and dental coverage in effect on his Termination Date (or generally comparable coverage) for himself and, if applicable, his
spouse and dependents, as the same may be changed from time to time for employees generally, as if Executive had continued in employment during such period; or, as an alternative, the Company may elect to pay Executive cash in lieu of such coverage
in an amount equal to Executive’s reasonable after-tax cost of continuing comparable coverage, where such coverage may not be continued by the Company (or where such continuation would adversely affect the tax status of the plan pursuant to
which the coverage is provided), with any such cash payments to be made in accordance with the ordinary payroll practices of the Company (not less frequently than monthly) for employees generally for the period during which such cash payments are to
be provided. 
 (A) If Executive does not receive the cash payment described in the preceding sentence, the
Company shall take all commercially reasonable efforts to provide that the COBRA (as defined in Section 23) health care continuation coverage period under section 4980B of the Code (as defined in Section 23) shall commence immediately
after the foregoing 24 month benefit period, with such continuation coverage continuing until the end of applicable COBRA health care continuation coverage period. 

(B) If Executive would have been eligible for post-retirement medical and dental coverage had he retired from employment
during the period of 24 months following his Termination Date, but is not so eligible as the result of his Involuntary Termination Associated With a Change in Control, then at the conclusion of the benefit continuation period described in
(A) above, the Company shall take all commercially reasonable efforts to provide Executive on a monthly basis with additional continued group medical and dental coverage comparable to that which would have been available to him from time to
time under the Company’s post-retirement medical and dental program, for as long as such coverage would have been available under such program, or, as an alternative, the Company may elect to pay Executive cash in lieu of such coverage in an
amount equal to Executive’s reasonable after-tax cost of continuing comparable coverage, where such coverage may not be continued by the Company (or where such continuation would adversely affect the tax status of the plan pursuant to which the
coverage is provided), with any such cash payments to be made in accordance with the ordinary payroll practices of the Company (not less frequently than monthly) for employees generally for the period during which such cash payments are to be
provided. 
 (c) Limitation on Payments and Benefits. Notwithstanding anything in this Agreement to the
contrary, the sum of the maximum amount payable and the value of the benefits provided to Executive pursuant to this Section 2 shall be limited to 2.99 times the sum of Executive’s Base Pay and Bonus (as defined in Section 23). In the
event a reduction is required pursuant hereto, unless Executive is permitted by the Company to choose the order of reduction, the order of reduction shall be first all other cash payments on a pro rata basis, then any equity compensation on a pro
rata basis, and lastly medical and dental coverage. 

  
 3 








  
 (d)
Cessation of Employment on Account of Disability, Cause or Death. Notwithstanding anything in this Agreement to the contrary, if Executive’s employment terminates on account of Disability, Executive shall be entitled to receive
disability benefits under any disability program maintained by the Company that covers Executive, and Executive shall not be considered to have terminated employment under this Agreement and shall not receive payments and benefits pursuant to this
Section 2. If Executive’s employment is terminated by the Company on account of Cause or because of his death, Executive shall not be considered to have terminated employment under this Agreement and shall not receive payments and benefits
pursuant to this Section 2. 
 (e) Beneficiaries. Executive shall be entitled to select (and change,
to the extent permitted under any applicable law) a beneficiary or beneficiaries to receive any compensation or benefit payable hereunder following Executive’s death, and may change such election, in either case by giving the Company written
notice thereof. In the event of Executive’s death or a judicial determination of his incompetence, reference in this Agreement to Executive shall be deemed, where appropriate, to refer to his beneficiary, estate or other legal representative.
If Executive dies without having designated a beneficiary, or if the beneficiary so designated has predeceased Executive or cannot be located by the Company within one year after the date when the Company commenced making a reasonable effort to
locate such beneficiary, then Executive’s surviving spouse, or if none, then Executive’s estate shall be deemed to be his beneficiary. 
 3. Nonqualified Deferred Compensation Plan Omnibus Provisions. Notwithstanding any other provision of this Agreement, it is intended that any payment or benefit which is provided pursuant to or in
connection with this Agreement which is considered to be nonqualified deferred compensation subject to Section 409A of the Code shall be provided and paid in a manner, and at such time and in such form, as complies with the applicable
requirements of Section 409A of the Code to avoid the unfavorable tax consequences provided therein for non-compliance. Notwithstanding any other provision of this Agreement, the Board is authorized to amend this Agreement, to amend any
election made by Executive under this Agreement and/or to delay the payment of any monies and/or provision of any benefits in such manner as may be determined by it to be necessary or appropriate to comply, or to evidence or further evidence
required compliance, with Section 409A of the Code (including any transition or grandfather rules thereunder). For purposes of this Agreement, all rights to payments and benefits hereunder shall be treated as rights to a series of separate
payments and benefits to the fullest extent allowable by Section 409A of the Code. Payments or provision of benefits in connection with a separation from service payment event will be delayed, to the extent applicable, until six months after
the separation from service or, if earlier, the Executive’s death, if the Executive is a key employee of a publicly traded corporation under Section 409A(a)(2)(B)(i) of the Code (the “409A Deferral Period”). In the event such
payments are otherwise due to be made in installments or periodically during the 409A Deferral Period, the payments which would otherwise have been made in the 409A Deferral Period shall be accumulated and paid in a lump sum as soon as the 409A
Deferral Period ends, and the balance of the payments shall be made as otherwise scheduled. In the event benefits are required to be deferred, any such benefit may be provided during the 409A Deferral Period at Executive’s expense, with
Executive having a right to reimbursement from the Company once the 409A Deferral Period ends, and the balance of the benefits shall be provided as otherwise scheduled. For purposes of this Agreement, termination of employment will be read to mean a
“separation from service” within the meaning of Section 409A of the Code where it is reasonably anticipated that no further services would be performed after that date or that the level of bona fide services Executive would perform
after that date (whether as an employee or independent contractor) would permanently decrease to no more than 20 percent of the average level of bona fide services performed over the immediately preceding thirty-six (36)-month period.
Notwithstanding any of the provisions of this Agreement or any other agreement pertaining to Executive, the Company shall not be obligated to hold Executive harmless from, or make any gross-up payment to Executive for, any additional income tax,
interest or penalties 

  
 4 








 
imposed under Section 409A of the Code if any payment or benefit which is to be provided pursuant to this Agreement or otherwise fails to comply with, or be exempt from, the requirements of
Section 409A of the Code. 
 4. Release. Notwithstanding the foregoing, no payments shall be made or benefits
provided under Section 2(b) unless Executive executes, and does not revoke, the Company’s standard written release, substantially in the form as attached hereto as Appendix A (the “Release”), of any and all claims against the
Company and all related parties with respect to all matters arising out of Executive’s employment by the Company (other than any claim or entitlement under an employee benefit, long term cash or equity compensation plan, program, arrangement or
agreement which is due pursuant to the terms of such plan, program, arrangement or agreement) or a termination thereof. Such Release must be provided within sixty (60) days after Executive’s Termination Date or, where Executive is entitled
to benefits under this Agreement by reason of clause (ii) or (iii) of Section 2(a) above, the later of before the date an actual Change in Control occurs or within sixty (60) days after the Executive’s Termination Date.

 5. Enforcement. Without limiting the rights of Executive at law or in equity, except as provided in Section 6, if
the Company fails to make any payment or provide any benefit required to be made or provided hereunder on a timely basis, the Company will pay interest on the amount or value thereof at an annualized rate of interest equal to the so-called composite
“prime rate” as quoted from time to time during the relevant period in the Eastern Edition of The Wall Street Journal. Such interest will be payable as it accrues consistent with the timing of the related payments or benefits to be
provided. Any change in such prime rate will be effective on and as of the date of such change. 
 6. No Excise Tax Gross-Up
and Tax Limitation on Payments by the Company. The provisions of this Section 6 shall apply notwithstanding anything in this Agreement to the contrary. Notwithstanding any other provision of this Agreement or any other agreement pertaining
to Executive, the Company shall not be obligated to hold Executive harmless from, or make any gross-up payment to Executive for, any excise tax imposed under Section 4999 of the Code or any interest or penalties pertaining thereto. 

(a) Subject to the limitation in Section 2(c), if it shall be determined that any Payment would constitute an
“excess parachute payment” within the meaning of Section 280G of the Code and if either (1) the Net After-tax Benefit to Executive of receiving only the Reduced Amount is greater than the Net After-tax Benefit to Executive of
receiving all of the Payments or (2) the excess, if any, of (A) the Net After-tax Benefit to Executive of receiving all of the Payments over (B) the Net After-tax Benefit to Executive of receiving only the Reduced Amount does not
exceed the lesser of $50,000 or 10% of the Net After-tax Benefit to Executive resulting from having the Payments under Section 2 of this Agreement (“Change in Control Payments”) reduced to the Reduced Amount, then the Change in
Control Payments shall be reduced (but not below zero) so that the Present Value of the aggregate of all Payments does not exceed the Reduced Amount. In the event a reduction is required pursuant hereto, the order of reduction shall be first all
cash payments on a pro rata basis, then any equity compensation on a pro rata basis, and lastly medical and dental coverage. For purposes of this Section 6, the following terms have the following meanings: 

(i) “Net After-tax Benefit” shall mean the Present Value of a Payment net of all federal state and local income,
employment and excise taxes imposed on Executive with respect thereto, determined by applying the highest marginal rate(s) applicable to an individual for Executive’s taxable year in which the Change in Control occurs. 

(ii) “Payment” means any payment or distribution or provision of benefits by the Company to or for the benefit
of Executive, whether paid or payable or distributed or distributable pursuant to the terms of this Agreement or otherwise, but determined without regard to any reductions required by this Section 6. 

  
 5 








  
 (iii)
“Present Value” shall mean such value determined in accordance with Section 280G(d)(4) of the Code. 
 (iv) “Reduced Amount” shall be an amount expressed in Present Value which maximizes the aggregate Present Value of Payments without causing any Payment to be subject to excise tax under
Section 4999 of the Code or the deduction limitation of Section 280G of the Code. 
 (b) Except as set
forth in the next sentence, all determinations to be made under this Section 6 shall be made by the nationally recognized independent public accounting firm used by the Company immediately prior to the Change in Control (“Accounting
Firm”), which Accounting Firm shall provide its determinations and any supporting calculations to the Company and Executive within ten days of Executive’s Termination Date. If determined by the Accounting Firm to be excludible from
parachute payments under Section 280G of the Code, the value of Executive’s non-competition covenant under Section 10(a) of this Agreement shall be determined by independent appraisal by a nationally-recognized business valuation firm
acceptable to both Executive and the Company, and a portion of the Change in Control Payments shall, to the extent of that appraised value, be specifically allocated as reasonable compensation for such non-competition covenant and shall not be
treated as a parachute payment. Any such determination by the Accounting Firm shall be binding upon the Company and Executive. 
 (c) If the Accounting Firm determines that Change in Control Payments should be reduced, the Company shall promptly give Executive notice to that effect and a copy of the detailed calculation thereof. All
determinations made by the Accounting Firm under this Section 6 shall be binding upon the Company and Executive and shall be made within twenty (20) business days of Executive’s Termination Date. 

(d) While it is the intention of the Company and Executive to reduce the amounts payable or distributable to Executive
hereunder only if the aggregate Net After-tax Benefit to Executive would thereby be increased in the manner provided for herein, as a result of the uncertainty in the application of Section 4999 of the Code at the time of the initial
determination by the Accounting Firm hereunder, it is possible that amounts will have been paid or distributed by the Company to or for the benefit of Executive pursuant to this Agreement which should not have been so paid or distributed
(“Overpayment”) or that additional amounts which will have not been paid or distributed by the Company to or for the benefit of Executive pursuant to this Agreement could have been so paid or distributed (“Underpayment”), in each
case, consistent with the calculation of the Reduced Amount hereunder. In the event that the Accounting Firm, based either upon the assertion of a deficiency by the Internal Revenue Service against the Company or Executive which the Accounting Firm
believes has a high probability of success determines that an Overpayment has been made, any such Overpayment paid or distributed by the Company to or for the benefit of Executive shall be treated for all purposes as a loan to Executive which
Executive shall repay to the Company together with interest at the applicable federal rate provided for in Section 7872(f)(2) of the Code; provided, however, that no such loan shall be deemed to have been made and no amount shall be payable by
Executive to the Company if and to the extent such deemed loan and payment would not either reduce the amount on which Executive is subject to tax under Sections 1 and 4999 of the Code or generate a refund of such taxes. In the event that the
Accounting Firm, based upon controlling precedent or substantial authority, determines that an Underpayment has occurred, any such Underpayment shall be promptly paid by the Company to or for the benefit of Executive together with interest at the
applicable federal rate provided for in Section 7872(f)(2) of the Code. 
 (e) All of the fees and expenses
of the Accounting Firm in performing the determinations referred to in this Section 6 shall be borne solely by the Company. 

  
 6 








  
 (f) All
payments to be made under this Section 6 (other than the Underpayment described in Section 6(d)) must be made by the end of the Executive’s taxable year next following the Company’s taxable year in which the Company remits the
related taxes. Any right to reimbursement incurred due to a tax audit or litigation addressing the existence or amount of a tax liability must be made by the end of the Executive’s taxable year following the Executive’s taxable year in
which the taxes that are the subject of the audit or litigation are remitted to the taxing authorities or, where no such taxes are remitted, the end of the Executive’s taxable year following the year in which the audit is completed or there is
a final and non-appealable settlement or the resolution of the litigation. 
 7. Duties upon Termination; Mitigation
Obligation. Upon termination of employment for any reason, Executive or his estate shall surrender to the Company all correspondence, letters, files, contracts, mailing lists, customer lists, advertising materials, ledgers, supplies, equipment,
checks, and all other materials and records of any kind that are the property of the Company or any of its subsidiaries or affiliates, that may be in Executive’s possession or under his control, including all copies of any of the foregoing. The
Company hereby acknowledges that it will be difficult and may be impossible for Executive to find reasonably comparable employment following the Termination Date. Accordingly, the payment and provision of the severance compensation by the Company to
Executive in accordance with the terms of this Agreement is hereby acknowledged by the Company to be reasonable, and Executive will not be required to mitigate the amount of any payment or benefit provided for in this Agreement by seeking other
employment or otherwise, nor will any profits, income, earnings or other benefits from any source whatsoever create any mitigation, offset, reduction or any other obligation on the part of Executive hereunder or otherwise. 

8. Legal Fees and Expenses. If litigation or arbitration is commenced by either party to enforce or interpret any provision
contained in this Agreement, the Company will undertake to indemnify Executive for his reasonable attorneys’ fees and expenses associated with such litigation or arbitration if Executive substantially prevails in such litigation or arbitration
or any settlement thereof. Notwithstanding the foregoing, if it should appear to Executive that the Company has failed to comply with any of its obligations under this Agreement or in the event that the Company or any other person takes or threatens
to take any action to declare this Agreement void or unenforceable, or institutes any litigation or other action or proceeding designed to deny, or to recover from, Executive the benefits provided or intended to be provided to Executive under
Section 2 of this Agreement, the Company will in any event reimburse Executive for his reasonable attorneys’ fees and expenses incurred in connection therewith up to $10,000 without regard to the commencement or outcome of any litigation
or arbitration in order for Executive to retain counsel to advise and represent Executive in connection with any such interpretation, enforcement or defense, including without limitation the initiation or defense of any litigation or other legal
action, whether by or against the Company or any director, officer or employee of the Company, in any jurisdiction. Notwithstanding any existing or prior attorney-client relationship between the Company and such counsel, the Company irrevocably
consents to Executive’s entering into an attorney-client relationship with such counsel, and in that connection, the Company and Executive agree that a confidential relationship will exist between Executive and such counsel. The first $10,000
of such expenses will be paid by the Company as they are incurred by Executive, and any balance thereof due to Executive shall be paid within thirty (30) days after any final judgment or decision or settlement in which Executive substantially
prevails. Any reimbursements to be paid by the Company to the Executive under this Section 8 for the first $10,000 of such expenses must be paid as soon as administratively feasible after the Executive incurs the expense and the Executive will
be entitled to receive any balance thereof as soon as administratively feasible after the termination of such litigation or arbitration or any settlement thereof under terms on which the Executive substantially prevails. 

9. Confidentiality. Executive hereby covenants and agrees that, except as specifically requested or directed by the Company, he
will not disclose to any person not employed by the Company, or use in connection with engaging in competition with the Company, any confidential or proprietary information (as provided below) of the Company. For purposes of this Agreement, the term
“confidential or proprietary information” will include all information of any nature and in any form that is owned by the Company and that 

  
 7 








 
is not publicly available (other than by Executive’s breach of this Section 9) or generally known to persons engaged in businesses similar or related to those of the Company.
Confidential or proprietary information will include, without limitation, the Company’s financial matters, customers, employees, industry contracts, strategic business plans, product development (or other proprietary product data), marketing
plans, consulting solutions and processes, and all other secrets and all other information of a confidential or proprietary nature which is protected by the Uniform Trade Secrets Act. For purposes of the preceding two sentences, the term
“Company” will also include any Subsidiary (as defined in Section 23; collectively, the “Restricted Group”). The foregoing obligations imposed by this Section 9 will not apply (i) in the course of the business of
and for the benefit of the Company, (ii) if such confidential or proprietary information has become, through no fault of Executive, generally known to the public, or (iii) if Executive is required by law to make disclosure (after giving
the Company notice and an opportunity to contest such requirement). In addition, if not otherwise filed by the Company with the U.S. Securities and Exchange Commission (“SEC”) and available through public disclosure from the SEC, Executive
agrees not to disclose the terms of this Agreement to anyone, except Executive’s spouse, attorney and, as necessary, tax/financial advisor, except as may be required by law. Likewise, the Company agrees that the terms of this Agreement will not
be disclosed except as may be necessary to obtain approval or authorization to fulfill its obligations hereunder or as required by law. It is expressly understood that any violation of the confidentiality obligation imposed hereunder constitutes a
material breach of this Agreement. 
 10. Covenants Not to Compete and Not to Solicit; Breach of Agreement Obligations by
Executive. 
 (a) Covenant Not to Compete. In the event Executive breaches his obligations to the
Company to remain employed as provided in Section 1 above or if Executive is entitled to receive payments and benefits under Section 2 above other than pursuant to clause (ii) or (iii) of Section 2(a) above, then, for a
period of one (1) year following Executive’s Termination Date, Executive shall not directly or indirectly engage in (whether as an employee, consultant, proprietor, partner, director or otherwise), or have any ownership interest in, or
participate in a financing, operation, management or control of, any person, firm, corporation or business that is a Restricted Business in a Restricted Territory without the prior written consent of the Board. For this purpose, ownership, whether
direct or beneficial, of no more than 5% of the outstanding securities entitled to vote generally in the election of directors of a publicly traded corporation shall not constitute a violation of this provision. 

(b) Covenant Not to Solicit. In the event Executive breaches his obligations to the Company to remain employed as
provided in Section 1 above or if Executive is entitled to receive payments and benefits under Section 2 above other than pursuant to clause (ii) or (iii) of Section 2(a) above, then, for a period of one (1) year
following Executive’s Termination Date, Executive shall not: (i) solicit, encourage or take any other action which is intended to induce any other employee, any supplier or any customer, of the Company or any Subsidiary to terminate his
employment or relationship with the Company or any Subsidiary; or (ii) interfere in any manner with the contractual or employment relationship between the Company and any such employee, supplier or customer of the Company or any Subsidiary. The
foregoing shall not prohibit Executive or any entity with which Executive may be affiliated from hiring a former employee of the Company or any Subsidiary; provided, that such hiring results exclusively from such former employee’s affirmative
response to a general recruitment effort. 
 (c) Interpretation. The covenants contained herein are
intended to be construed as a series of separate covenants, one for each of the counties, parishes, towns, cities or states or similar local governmental or political subdivisions of the Restricted Territory. Except for geographic coverage, each
such separate covenant shall be deemed identical in terms to the covenant contained in the preceding subsections. If, in any judicial proceeding, the court shall refuse to enforce any of the separate covenants (or any part thereof) deemed included
in such subsections, then such unenforceable covenant (or such part) shall be deemed to be eliminated from this Agreement for the purpose of those proceedings to the extent necessary to permit the remaining separate covenants (or portions thereof)
to be enforced.

  
 8 








  
 (d)
Remedies for Breach. In the event of Executive’s termination of employment, the Company’s obligations to provide the payments and benefits set forth in Section 2 shall be and are expressly conditioned upon Executive’s
covenants not to compete and not to solicit as provided herein. In the event Executive breaches his obligations to the Company as provided herein, the Company’s obligations to provide the payments and benefits set forth in Section 2 shall
cease, and Executive shall be obligated to return to the Company any payments and the value of any benefits previously received by him pursuant to Section 2. In addition, it is recognized that damages in the event of breach of this
Section 10 by Executive would be difficult, if not impossible, to ascertain, and it is therefore specifically agreed that the Company, in addition to and without limiting any other remedy or right it may have, shall have the right to an
injunction or other equitable relief in any court of competent jurisdiction, enjoining any such breach. The existence of the express rights to cease or recover payment and the value of benefits otherwise provided for in Section 2 and to obtain
an injunction or other equitable relief shall not preclude the Company from pursuing any other rights and remedies at law or in equity which it may have. 
 (e) Definitions. For proposes of this Section 10, the following terms have the following meanings: 
 (i) “Restricted Business” means any business function with a direct competitor of the Company or any Subsidiary that is substantially similar to the business function performed by Executive with
the Company or any Subsidiary immediately prior to his Termination Date. 
 (ii) “Restricted Territory”
means the counties, parishes, towns, cities, or states or similar governmental or political subdivisions of any country in which the Company or any Subsidiary operates or does business, inclusive of markets in which the Company competes with the
Restricted Business to sell its products. 
 (f) Reasonableness. In the event that the provisions of this
Section 10 shall ever be deemed to exceed the time, scope or geographic limitations permitted by applicable laws, then such provisions shall be reformed to the maximum time, scope or geographic limitations, as the case may be, permitted by
applicable laws. 
 11. Employment Rights. Executive and the Company acknowledge that, except as may otherwise be
provided under any other written agreement between Executive and the Company or a Subsidiary, the employment of Executive by the Company is “at will.” Nothing expressed or implied in this Agreement will create any right or duty on the part
of the Company or Executive, except as provided in Section 1 above, to have Executive remain in the employment of the Company or any Subsidiary prior to or following any Change in Control. 

12. Withholding of Taxes. The Company may withhold from any amounts payable under this Agreement all federal, state, city or other
taxes as the Company is required to withhold pursuant to any applicable law, regulation or ruling. 
 13. Term of
Agreement. 
 (a) Regular Term and Extensions. The term of this Agreement shall commence on the
Effective Date hereof and shall continue until December 31, 2013; provided, however, that commencing on December 31, 2013, and each anniversary thereafter, the term of this Agreement shall automatically be extended for one year unless the
Company gives notice not later than thirty (30) days preceding any such anniversary year that it does not wish to extend this Agreement; and provided, further, that regardless of any such notice by the Company, this Agreement shall continue in
effect for a period of 24 months beyond the term provided herein if a Change in Control of the Company occurs during the period that this Agreement is in effect. 

  
 9 








  
 (b)
Early Termination by the Board. Notwithstanding the foregoing, this Agreement shall be subject to unilateral termination by the Company if the Board determines in good faith that Executive is no longer a key management employee to be provided
the rights contained herein and so notifies Executive in writing; provided, however, that such determination may not be made, and if made shall have no effect, if a Change in Control shall have occurred or during any period of time when the Company
has knowledge that any person or group has taken steps reasonably calculated to effect a Change in Control until, in the opinion of the Board, the third person has abandoned or terminated his or its efforts to effect a Change in Control. 

14. Successors and Binding Agreement. 
 (a) The Company will require any successor (whether direct or indirect, by purchase, merger, consolidation, reorganization or otherwise) to all or substantially all of the business or assets of the
Company, by agreement in form and substance reasonably satisfactory to Executive, expressly to assume and agree to perform this Agreement in the same manner and to the same extent the Company would be required to perform if no such succession had
taken place. This Agreement will be binding upon and inure to the benefit of the Company and any successor to the Company, including without limitation any persons acquiring directly or indirectly all or substantially all of the business or assets
of the Company whether by purchase, merger, consolidation, reorganization or otherwise (and such successor will thereafter be deemed “Company” for the purposes of this Agreement), but will not otherwise be assignable, transferable or
delegable by the Company. 
 (b) This Agreement will inure to the benefit of and be enforceable by
Executive’s personal or legal representatives, executors, administrators, successors, heirs, distributees and legatees. Except as expressly provided in Section 2(b), this Agreement will supersede the provisions of any employment agreement
between Executive and the Company that relate to any matter that is also the subject of this Agreement, and such provisions in such employment agreement will be null and void. The foregoing sentence shall have no impact on any outstanding agreement
made with Executive under the Company’s long-term incentive program, including, stock option, restricted stock, restricted unit, other equity- or cash-based incentive awards or other equity- or cash-based agreements at any time in effect.

 (c) This Agreement is personal in nature and neither of the parties hereto will, without the consent of the
other, assign, transfer or delegate this Agreement or any rights or obligations hereunder except as expressly provided in Sections 14(a) and (b). Without limiting the generality or effect of the foregoing, Executive’s right to receive payments
and benefits hereunder will not be assignable, transferable or delegable, whether by pledge, creation of a security interest, or otherwise, other than by a transfer by Executive’s will or by the laws of descent and distribution and, in the
event of any attempted assignment or transfer contrary to this Section 14(c), the Company will have no liability to pay any amount so attempted to be assigned, transferred or delegated. 

15. Notices. For all purposes of this Agreement, all communications, including without limitation, notices, consents, requests or
approvals, required or permitted to be given hereunder will be in writing and will be deemed to have been duly given when hand delivered or dispatched by electronic facsimile transmission (with receipt thereof confirmed electronically), or five
(5) business days after having been mailed by United States registered or certified mail, return receipt requested, postage prepaid, or three (3) business days after having been sent by a nationally recognized courier service for
overnight/next-day delivery, such as FedEx, UPS, or the United States Postal Service, addressed to the Company (to the attention of the Secretary of the Company) at its principal executive office and to Executive at his principal residence, or to
such other address as any party may have furnished to the other in writing and in accordance herewith, except that notices of changes of address will be effective only upon receipt. 

  
 10 









  
 16. Governing Law;
Dispute Resolution. The validity, interpretation, construction and performance of this Agreement will be governed by and construed in accordance with the substantive laws of the State of Delaware, without giving effect to the principles of
conflict of laws of such State. Any dispute or controversy arising under or in connection with this Agreement (other than an action to enforce the covenants in Section 10 hereof) shall be resolved by arbitration in either Richmond, Virginia or
Charleston, West Virginia as so determined by Executive. Three arbitrators shall be selected, and arbitration shall be conducted, in accordance with the rules of the American Arbitration Association. Subject to Section 8 hereof, the arbitrators
shall have the discretion to award the cost of arbitration, arbitrators’ fees and the respective attorneys’ fees of each party between the parties as they see fit. 
 17. Validity. If any provision of this Agreement or the application of any provision hereof to any person or circumstances is held invalid, unenforceable or otherwise illegal, the remainder of this
Agreement and the application of such provision to any other person or circumstances will not be affected, and the provision so held to be invalid, unenforceable or otherwise illegal will be reformed to the extent (and only to the extent) necessary
to make it enforceable, valid or legal. 
 18. Amendment; Modification. This Agreement may only be amended by written
agreement of the parties hereto. No provision of this Agreement may be modified, waived or discharged unless such waiver, modification or discharge is agreed to in a writing signed by Executive and the Company. No waiver by either party hereto at
any time of any breach by the other party hereto or compliance with any condition or provision of this Agreement to be performed by such other party will be deemed a waiver of similar or dissimilar provisions or conditions at the same or at any
prior or subsequent time. No agreements or representations, oral or otherwise, expressed or implied with respect to the subject matter hereof have been made by either party that are not set forth expressly in this Agreement. 

19. Acknowledgement. Executive acknowledges that he has signed this Agreement voluntarily and knowingly in exchange for the
consideration described herein, which Executive acknowledges is adequate and satisfactory to him and which Executive acknowledges is in addition to any other benefits to which Executive is otherwise entitled and that Executive has been and is hereby
advised in writing to consult with an attorney prior to signing this Agreement. 
 20. Miscellaneous. References to
Sections are to references to Sections of this Agreement. Any reference in this Agreement to a provision of a statute, rule or regulation will also include any successor provision thereto. Whenever used herein, the masculine includes the feminine.

 21. Survival. Notwithstanding any provision of this Agreement to the contrary, the parties’ respective rights and
obligations under Sections 2, 3, 4, 5, 6, 7, 8, 9, 10, 14 and 16 will survive any termination or expiration of this Agreement or the termination of Executive’s employment for any reason whatsoever. 

22. Counterparts. This Agreement may be executed in one or more counterparts, each of which will be deemed to be an original but
all of which together will constitute one and the same agreement. 
 23. Certain Defined Terms. In addition to terms
defined elsewhere herein, the following terms have the following meanings when used in this Agreement with initial capital letters: 
 (a) “Base Pay” means the greater of (i) Executive’s annual base salary rate, exclusive of Bonus, as in effect immediately preceding Executive’s Termination Date, and
(ii) Executive’s highest annual base salary rate, exclusive of Bonus, in effect at any time during the three years immediately preceding the Change in Control. 

(b) “Board” means the Board of Directors of the Company. If Executive is also a member of the Board, then in the
case of any provision hereof that requires action by, or a determination of, the Board in 

  
 11 









 
connection with this Agreement, it is understood that such provision refers to the members of the Board other than Executive. Unless otherwise provided by the Board and except in determining
Cause, the Compensation Committee of the Board shall have full authority to act on behalf of the Board in connection with any duty or action expressly assigned under, or implicitly to be acted on in connection with, this Agreement to or by the
Board. 
 (c) “Bonus” means the highest amounts payable under Executive’s annual cash bonus award
plus the highest amounts payable under all Executive’s outstanding long-term cash incentive bonus awards that contain as a year of measurement, the year in which Executive is terminated. Bonus does not include any stock option, stock
appreciation, stock purchase, restricted stock, restricted unit, performance stock, performance unit, shadow stock or similar equity incentive plan, program, arrangement or grant, one time bonus or payment, any amounts contributed by the Company or
any Subsidiary for the benefit of Executive to any qualified or nonqualified deferred compensation plan, or any amounts designated by the parties as amounts other than Bonus. 

(d) “Cause” shall occur hereunder only upon: 

(i) the willful and continued failure by Executive substantially to perform his duties with the Company (other than any
such failure resulting from his incapacity due to physical or mental illness) after a written demand for substantial performance is delivered to him by the Board which specifically identifies the manner in which the Board believes that he has not
substantially performed his duties, 
 (ii) Executive’s willful breach of fiduciary duty, willful violation
of any law, rule, or regulation (other than traffic violations or similar offenses), willful violation of a final cease and desist order or willful engaging in other gross misconduct which is materially and demonstrably injurious to the Company or
any Subsidiary, or 
 (iii) Executive’s conviction of, or pleading guilty or nolo contendere to, the
commission of a felony involving fraud, embezzlement, theft or moral turpitude. 
 For purposes of this
Section 23(d), no act, or failure to act, on Executive’s part described in clause (i) or (ii) above shall be considered “willful” unless done, or omitted to be done, by him not in good faith and without reasonable
belief that his action or omission was in the best interest of the Company and its Subsidiaries. Notwithstanding the foregoing, Executive shall not be deemed to have been terminated for Cause unless and until there shall have been delivered to him a
copy of a resolution duly adopted by the affirmative vote of not less than two-thirds of the entire membership of the Board at a meeting of the Board called and held for the purpose, among others (after at least 20 days prior notice to Executive and
an opportunity for Executive, together with his counsel, to be heard before the Board), of finding that (x) in the good faith opinion of the Board Executive failed to perform his duties or engaged in misconduct as set forth above in clause
(i) or (ii) of this paragraph, and, if applicable, that Executive did not correct such failure or cease such misconduct after being requested to do so by the Board, or (y) as set forth in clause (iii) of this paragraph, Executive
has been convicted of or has entered a plea of nolo contendere to the commission of a felony. The fact that Executive is or shortly may be “retirement eligible” and thus eligible for or entitled to post-retirement benefits from any plan,
arrangement or program sponsored, participated in or contributed to by the Company or any Subsidiary shall not prevent Executive’s termination from being considered termination for Cause. 

(e) “Change in Control” means the occurrence of any of the following events: 

(i) a third person, including a “group” as defined in Section 13(d)(3) of the Securities Exchange Act of
1934, as amended, acquires (or has acquired during the twelve (12)-month period 

  
 12 









 
ending on the date of the most recent acquisition) shares of the Company having thirty (30) percent or more of the total number of votes that may be cast for the election of directors of the
Company; or 
 (ii) as the result of any cash tender or exchange offer, merger or other business combination, or
any combination of the foregoing transactions, (a “Transaction”), the persons who were directors of the Company before the Transaction shall cease to constitute a majority of the Board of the Company or any successor to the Company and be
replaced by persons whose appointment or election is not endorsed by the majority of directors before the Transaction. 
 For purposes hereof, a “potential” Change in Control is considered to occur and remain present commencing upon the date that any person or group attempts a Change in Control and the Executive is
either notified by the Board or aware of an attempted Change in Control. All decisions regarding the time of the commencement, the pendancy and the abandonment or termination of a potential Change in Control shall be made by the Board in good faith
and shall be conclusive and binding on the Executive. An “actual” Change in Control means that one of the two events described in (i) or (ii) above has occurred. 

(f) “COBRA” means the Consolidated Omnibus Budget Reconciliation Act of 1986, as amended. 

(g) “Code” means the Internal Revenue Code of 1986, as amended. 

(h) “Constructive Termination Associated With a Change in Control” means the termination of Executive’s
employment with the Company by Executive as a result of the occurrence, without Executive’s written consent, of one of the following events: 
 (i) following the occurrence of an actual, but not a potential, Change in Control, the assignment to Executive of any duties inconsistent in any respect with Executive’s position (including status,
offices, titles and reporting requirements), authority, duties or responsibilities in effect immediately prior to the Change in Control, or any other action by the Company or any Subsidiary which results in a diminution in such position, authority,
duties or responsibilities, other than an isolated, insubstantial and inadvertent action not taken in bad faith and which is remedied by the Company or Subsidiary promptly after receipt of notice thereof given by Executive; 

(ii) following the occurrence of an actual or potential Change in Control, any failure by the Company or any Subsidiary to
continue Executive’s employment upon the terms and conditions as existed immediately prior to the Change in Control (other than any term or condition covered in clause (i) above), including but not limited to compensation level and annual
and long-term cash and equity incentive opportunity, other than an isolated, insubstantial and inadvertent failure not occurring in bad faith and which is remedied by the Company or Subsidiary promptly after receipt of notice thereof given by
Executive; 
 (iii) following the occurrence of an actual or potential Change in Control, a material reduction in
the level of Employee Benefits provided to Executive immediately prior to the Change in Control; or 
 (iv)
following the occurrence of an actual or potential Change in Control, the relocation of Executive’s principal work location (other than in connection with a relocation contemplated by the Company as of the date hereof or pursuant to
organizational changes in accordance with past practice) to a location that increases Executive’s normal work commute by fifty (50) miles or more as compared to Executive’s normal work commute immediately prior to the Change in
Control or that Executive’s required travel away from his office in the course of discharging his 

  
 13 









 
responsibilities or duties of his job is increased by an unreasonable amount as compared to that which was required of Executive in any of the three (3) full years immediately prior to the
Change in Control. 
 For purposes hereof, “Employee Benefits” means the perquisites, benefits and
service credit for benefits as provided under any and all employee retirement income and welfare benefit policies, plans, programs or arrangements in which Executive is entitled to participate, including, without limitation, any stock option, stock
appreciation, stock purchase, restricted stock, restricted unit, performance stock, performance unit, shadow stock or similar equity incentive plan, program, arrangement, savings, pension, supplemental executive retirement, or other retirement
income or welfare benefit, deferred compensation, incentive compensation, group or other life, health, medical/hospital or other insurance (whether funded by actual insurance or self-insured by the Company or a Subsidiary), disability, salary
continuation, expense reimbursement and other employee benefit policies that may exist as of a Change in Control or any successor policies, plans or arrangements that provide substantially similar perquisites or benefits. 

Without limiting the generality or effect of the foregoing, Executive shall have no right to terminate employment in a
Constructive Termination Associated With a Change in Control in connection with an event described above unless (x) Executive provides written notice to the Company within thirty (30) days of the occurrence of such event that identifies
such event with particularity, and (y) the Company fails to correct such event within ten (10) business days after receipt of such notice from Executive. 

In no event shall the termination of Executive’s employment with the Company on account of Executive’s death or
Disability or because Executive engaged in conduct constituting Cause be deemed to be a Constructive Termination Associated With a Change in Control. 
 (i) “Disability” means Executive becomes permanently disabled within the meaning of, and begins actually to receive long-term disability benefits pursuant to, the long-term disability plan of
the Company or any Subsidiary in effect for, or applicable to, Executive, or if none, then Executive is determined by the Social Security Administration to be totally and permanently disabled for purposes of entitlement to Social Security disability
benefits. 
 (j) “Involuntary Termination Associated With a Change in Control” means the termination of
Executive’s employment related to a Change in Control: (i) by the Company for any reason other than Cause, Executive’s death or Executive’s Disability, or (ii) on account of a Constructive Termination Associated With a
Change in Control. The fact that Executive is or shortly may be “retirement eligible” and thus eligible for or entitled to post-retirement benefits from any plan, arrangement or program sponsored, participated in or contributed to by the
Company or any Subsidiary shall not prevent Executive’s termination from being a Involuntary Termination Associated With a Change in Control. 
 (k) “Subsidiary” means any Company affiliate, whether or not incorporated, the majority of the outstanding capital stock or other ownership interests of which is owned, directly or indirectly,
by the Company. 
 (l) “Termination Date” means the last day of Executive’s employment with the
Company or any Subsidiary. 

  
 14 









  
 IN WITNESS WHEREOF,
the parties have caused this Agreement to be duly executed and delivered as of the date first above written. 
  

			
	MASSEY ENERGY COMPANY
		
	By:	 	 /s/ John M. Poma

	Name:	 	John M. Poma
	Title:	 	Vice President and Chief Administrative Officer
	
	 /s/ Don L. Blankenship

	 DON L. BLANKENSHIP



  
 15 









  
 Appendix A

 SEPARATION OF EMPLOYMENT AGREEMENT AND GENERAL RELEASE 

THIS SEPARATION OF EMPLOYMENT AGREEMENT AND GENERAL RELEASE (the “Agreement”) is made as of this
     day of             ,         , by and between Massey Energy Company, a Delaware
corporation (the “Company”), and                      (the “Executive”). 

WHEREAS, Executive formerly was employed by the Company as
            ; and 
 WHEREAS, Executive and Company
entered into a Change in Control Severance Agreement, originally dated             ,         , (the “Severance
Agreement”) which provides for certain payments and benefits in the event that Executive’s employment is terminated on account of a reason set forth in the Severance Agreement; and 

WHEREAS, an express condition of Executive’s entitlement to the payments and benefits under the Severance Agreement is the execution
of a general release in the form set forth below; and 
 WHEREAS, Executive and the Company mutually desire to terminate
Executive’s employment on an amicable basis, such termination to be effective             
            ,              (“Termination Date”). 

NOW, THEREFORE, IT IS HEREBY AGREED by and between Executive and the Company as follows: 

1. (a) Executive, for and in consideration of the commitments of the Company as set forth in paragraph 6 of this Agreement, and
intending to be legally bound, does hereby REMISE, RELEASE AND FOREVER DISCHARGE the Company, its affiliates, subsidiaries and parents, and its officers, directors, employees, and agents, and its and their respective successors and assigns, heirs,
executors, and administrators (collectively, “Releasees”) from all causes of action, suits, debts, claims and demands whatsoever in law or in equity, which Executive ever had, now has, or hereafter may have, whether known or unknown, or
which Executive’s heirs, executors, or administrators may have, by reason of any matter, cause or thing whatsoever, from the beginning of Executive’s employment to the date of this Agreement, and particularly, but without limitation of the
foregoing general terms, any claims arising from or relating in any way to Executive’s employment relationship with the Company, the terms and conditions of that employment relationship, and the termination of that employment relationship,
including, but not limited to, any claims arising under the Age Discrimination in Employment Act, the Older Workers Benefit Protection Act, Title VII of the Civil Rights Act of 1964, the Americans with Disabilities Act, the Family and Medical Leave
Act of 1993, the Employee Retirement Income Security Act of 1974, and any other claims under any federal, state or local common law, statutory, or regulatory provision, now or hereafter recognized, and any claims for attorneys’ fees and costs.
This Agreement is effective without regard to the legal nature of the claims raised and without regard to whether any such claims are based upon tort, equity, implied or express contract or discrimination of any sort. 

(b) To the fullest extent permitted by law, and subject to the provisions of paragraph 11 below, Executive represents and affirms that
(i) [other than             ,] Executive has not filed or caused to be filed on Executive’s behalf any claim for relief against the Company or any Releasee
and, to the best of Executive’s knowledge and belief, no outstanding claims for relief have been filed or asserted against the Company or any Releasee on Executive’s behalf; and (ii) [other than
            ,] Executive has not reported any improper, unethical or illegal conduct or activities to any supervisor, manager, department head, human resources
representative, agent or other representative of the Company, to any member of the Company’s legal or compliance departments, or to the ethics hotline, and has no knowledge of any such improper, unethical or illegal conduct or activities.
Executive agrees to dismiss with prejudice all claims for relief filed before the date hereof. 

  
 A-1









  
 (c)
Notwithstanding any other provision herein, the foregoing release does not apply to any claim or entitlement under an employee benefit or long term cash or equity incentive compensation plan, program, arrangement or agreement which is due pursuant
to the terms of such plan, program, arrangement or agreement. 
 2. The Company, for and in consideration of the commitments of
Executive as set forth in this Agreement, and intending to be legally bound, does hereby REMISE, RELEASE AND FOREVER DISCHARGE Executive from all claims, demands or causes of action arising out of facts or occurrences prior to the date of this
Agreement, but only to the extent the Company knows or reasonably should know of such facts or occurrence and only to the extent such claim, demand or cause of action relates to a violation of applicable law or the performance of Executive’s
duties with the Company; provided, however, that this release of claims shall not in any case be effective with respect to any claim by the Company alleging a breach of Executive’s obligations under this Agreement. [Note: The Company and
Executive may, but shall not be required to mutually agree on a case-by-case basis at the time of the signing of this release to include the foregoing provision, or a substantially similar provision, to this Agreement.] 

3. In consideration of the Company’s agreements as set forth in paragraph 6 herein, Executive agrees to comply with the limitations
described in Sections 9 and 10 of the Severance Agreement. 
 4. Executive further agrees and recognizes that Executive has
permanently and irrevocably severed Executive’s employment relationship with the Company, that Executive shall not seek employment with the Company or any affiliated entity at any time within two (2) years after his Termination Date, and
that the Company has no obligation to employ him in the future. 
 5. Executive further agrees that Executive will not disparage
or subvert the Company, or make any statement reflecting negatively on the Company, its affiliated corporations or entities, or any of their officers, directors, employees, agents or representatives, including, but not limited to, any matters
relating to the operation or management of the Company, Executive’s employment and the termination of Executive’s employment, irrespective of the truthfulness or falsity of such statement. 

6. In consideration for Executive’s agreements as set forth herein, the Company agrees to pay or provide to or for Executive the
payments and benefits described in Section 2(b) of the Severance Agreement, the provisions of which are incorporated herein by reference. Except as set forth in this Agreement, it is expressly agreed and understood that Releasees do not have,
and will not have, any obligations to provide Executive at any time in the future with any payments, benefits or considerations other than those recited in this paragraph, those excluded from release in Section 1(c) of this Agreement or those
required by law, other than under the terms of any benefit plans which provide benefits or payments to former employees according to their terms. 
 7. Executive understands and agrees that the payments, benefits and agreements provided in this Agreement are being provided to him in consideration for Executive’s acceptance and execution of, and
in reliance upon Executive’s representations in, this Agreement. Executive acknowledges that if Executive had not executed this Agreement containing a release of all claims against the Company, Executive would not have been entitled to the
payments and benefits set forth in Section 2(b) of the Severance Agreement. 
 8. Executive acknowledges and agrees that
the Company previously has satisfied any and all obligations owed to him under any employment agreement or offer letter Executive has with the Company and, further, that this Agreement supersedes any employment agreement or offer letter Executive
has with the Company, and any and all other prior agreements or understandings, whether written or oral, between the parties which are inconsistent with this Agreement, and further, that, except as set forth expressly herein, no promises or


  
 A-2









 
representations have been made to him in connection with the termination of Executive’s employment agreement, if any, or offer letter, if any, with the Company, or the terms of this
Agreement or the Severance Agreement. 
 9. If not otherwise filed by the Company with the U.S. Securities and Exchange
Commission (“SEC”) and available through public disclosure from the SEC, Executive agrees not to disclose the terms of this Agreement or the Severance Agreement to anyone, except Executive’s spouse, attorney and, as necessary,
tax/financial advisor, except as may be required by law. Likewise, the Company agrees that the terms of this Agreement will not be disclosed except as may be necessary to obtain approval or authorization to fulfill its obligations hereunder or as
required by law. It is expressly understood that any violation of the confidentiality obligation imposed hereunder constitutes a material breach of this Agreement. 
 10. Executive represents that Executive does not presently have in Executive’s possession any records and business documents, whether on computer or hard copy, and other materials (including but not
limited to computer disks and tapes, computer programs and software, office keys, correspondence, files, customer lists, technical information, customer information, pricing information, business strategies and plans, sales records and all copies
thereof) (collectively, the “Corporate Records”) provided by the Company and/or its predecessors, subsidiaries or affiliates or obtained as a result of Executive’s prior employment with the Company and/or its predecessors,
subsidiaries or affiliates, or created by Executive while employed by or rendering services to the Company and/or its predecessors, subsidiaries or affiliates. Executive acknowledges that all such Corporate Records are the property of the Company.
In addition, Executive shall promptly return in good condition any and all Company owned equipment or property, including, but not limited to, automobiles, personal data assistants, facsimile machines, copy machines, pagers, credit cards, cellular
telephone equipment, business cards, laptops and computers, unless mutually agreed upon in writing. As of the Termination Date, the Company will make arrangements to remove, terminate or transfer any and all business communication lines including
network access, cellular phone, fax line and other business numbers. 
 11. Nothing in this Agreement shall prohibit or restrict
Executive from: (i) making any disclosure of information required by law; (ii) providing information to, or testifying or otherwise assisting in any investigation or proceeding brought by, any federal regulatory or law enforcement agency
or legislative body, any self-regulatory organization, or the Company’s designated legal, compliance or human resources officers; or (iii) filing, testifying, participating in or otherwise assisting in a proceeding relating to an alleged
violation of any federal, state or municipal law relating to fraud, or any rule or regulation of the Securities and Exchange Commission or any self-regulatory organization. 
 12. The parties agree and acknowledge that the agreement by the Company described herein, and the settlement and termination of any asserted or unasserted claims against the Releasees, are not and shall
not be construed to be an admission of any violation of any federal, state or local statute or regulation, or of any duty owed by any of the Releasees to Executive. 
 13. Executive agrees and recognizes that should Executive breach any of the obligations or covenants set forth in this Agreement, the Company will have no further obligation to provide Executive with the
consideration set forth herein, and will have the right to seek repayment of all consideration paid up to the time of any such breach. Further, Executive acknowledges in the event of a breach of this Agreement, Releasees may seek any and all
appropriate relief for any such breach, including equitable relief and/or money damages, attorneys’ fees and costs. 
 14.
Executive further agrees that the Company shall be entitled to preliminary and permanent injunctive relief, without the necessity of proving actual damages, as well as to an equitable accounting of all earnings, profits and other benefits arising
from any violations of this Agreement, which rights shall be cumulative and in addition to any other rights or remedies to which the Company may be entitled. 

  
 A-3









  
 15. This Agreement and
the obligations of the parties hereunder shall be construed, interpreted and enforced in accordance with the laws of the State of Delaware, without giving effect to the principles of conflict of laws of such State. 

16. Executive certifies and acknowledges as follows: 

(a) That Executive has read the terms of this Agreement, and that Executive understands its terms and effects, including
the fact that, other than as excepted in paragraph 1 hereof, Executive has agreed to RELEASE AND FOREVER DISCHARGE the Company and each and every one of its affiliated entities from any legal action arising out of Executive’s employment
relationship with the Company and the termination of that employment relationship; and 
 (b) That Executive has
signed this Agreement voluntarily and knowingly in exchange for the consideration described herein, which Executive acknowledges is adequate and satisfactory to him and which Executive acknowledges is in addition to any other benefits to which
Executive is otherwise entitled; and 
 (c) That Executive has been and is hereby advised in writing to consult
with an attorney prior to signing this Agreement; and 
 (d) That Executive does not waive rights or claims that
may arise after the date this Agreement is executed; and 
 (e) That the Company has provided him with a period
of [twenty-one (21) - generally applicable for an individual termination] or [forty-five (45) - generally applicable for a group termination] days within which to consider this Agreement, and that Executive has signed on the date
indicated below after concluding that this Separation of Employment Agreement and General Release is satisfactory to him; and 
 (f) Executive acknowledges that this Agreement may be revoked by him within seven (7) days after execution, and it shall not become effective until the expiration of such seven (7) day
revocation period. In the event of a timely revocation by Executive, this Agreement will be deemed null and void and the Company will have no obligations hereunder. 
 Intending to be legally bound hereby, Executive and the Company executed the foregoing Separation of Employment Agreement and General Release this      day of
            ,         . 
  

									
	  
	 		 	Witness:	 	  

	Executive	 		 		 	
				
	MASSEY ENERGY COMPANY	 		 		 	
					
	By:	 	  
	 		 	Witness:	 	  

	Name:	 		 		 		 	
	Title:	 		 		 		 	


  
 A-4