EX-4.1


 Exhibit 4.1 

Execution Version 

REGISTRATION RIGHTS AGREEMENT 

BY AND AMONG 
 CNX COAL
RESOURCES LP, 
 CONSOL ENERGY INC. 

AND 
 THE OTHER PARTIES
HERETO 
  






 TABLE OF CONTENTS 

 

									
	ARTICLE I DEFINITIONS	  	 	1	  
				
		 	 Section 1.1
	  	 Definitions
	  	 	1	  
		 	 Section 1.2
	  	 Registrable Securities
	  	 	4	  
		
	ARTICLE II REGISTRATION RIGHTS	  	 	4	  
				
		 	 Section 2.1
	  	 Registration
	  	 	4	  
		 	 Section 2.2
	  	 Piggyback Rights
	  	 	6	  
		 	 Section 2.3
	  	 Delay Rights
	  	 	7	  
		 	 Section 2.4
	  	 Underwritten Offerings
	  	 	9	  
		 	 Section 2.5
	  	 Sale Procedures
	  	 	10	  
		 	 Section 2.6
	  	 Cooperation by Holders
	  	 	13	  
		 	 Section 2.7
	  	 Restrictions on Public Sale by Holders of Registrable Securities
	  	 	13	  
		 	 Section 2.8
	  	 Expenses
	  	 	13	  
		 	 Section 2.9
	  	 Indemnification
	  	 	14	  
		 	 Section 2.10
	  	 Rule 144 Reporting
	  	 	16	  
		 	 Section 2.11
	  	 Transfer or Assignment of Registration Rights
	  	 	17	  
		 	 Section 2.12
	  	 Other Registration Rights
	  	 	17	  
		
	ARTICLE III MISCELLANEOUS	  	 	17	  
				
		 	 Section 3.1
	  	 Communications
	  	 	17	  
		 	 Section 3.2
	  	 Successor and Assigns
	  	 	18	  
		 	 Section 3.3
	  	 Assignment of Rights
	  	 	18	  
		 	 Section 3.4
	  	 Recapitalization, Exchanges, Etc. Affecting the Units
	  	 	18	  
		 	 Section 3.5
	  	 Aggregation of Registrable Securities
	  	 	18	  
		 	 Section 3.6
	  	 Specific Performance
	  	 	18	  
		 	 Section 3.7
	  	 Counterparts
	  	 	19	  
		 	 Section 3.8
	  	 Headings
	  	 	19	  
		 	 Section 3.9
	  	 Governing Law
	  	 	19	  
		 	 Section 3.10      
	  	 Severability of Provisions
	  	 	19	  
		 	 Section 3.11
	  	 Entire Agreement
	  	 	19	  
		 	 Section 3.12
	  	 Amendment
	  	 	19	  
		 	 Section 3.13
	  	 No Presumption
	  	 	19	  
		 	 Section 3.14
	  	 Obligations Limited to Parties to Agreement
	  	 	19	  
		 	 Section 3.15
	  	 Independent Nature of Holder’s Obligations
	  	 	20	  
		 	 Section 3.16
	  	 Interpretation
	  	 	20	  

  






 REGISTRATION RIGHTS AGREEMENT 

This REGISTRATION RIGHTS AGREEMENT (this “Agreement”) is made and entered into as of September 30, 2016, by and among CNX
Coal Resources LP, a Delaware limited partnership (the “Partnership”), CONSOL Energy Inc., a Delaware corporation (“CEI”) and each of the Holders that may, from time to time, become party to this Agreement. 

WHEREAS, this Agreement is made and entered into in connection with the Closing of the issuance and sale of Class A Preferred Units of the
Partnership pursuant to the Contribution Agreement, dated as of September 30, 2016, by and among the Partnership, CEI, CONSOL Pennsylvania Coal Company LLC, a Delaware limited liability company (“CPCC”), Conrhein Coal Company, a
Pennsylvania general partnership (“Conrhein”) and CNX Thermal Holdings LLC, a Delaware limited liability company (“CTH”) (the “Contribution Agreement”); and 

WHEREAS, the Class A Preferred Units were issued under the Second Amended and Restated Agreement of Limited Partnership of the Partnership
dated September 30, 2016 (as it may be amended, supplemented or restated from time to time, the “Partnership Agreement”); and

WHEREAS, the Partnership has agreed to provide for the registration of the Common Units issued upon the conversion of the Class A Preferred
Units and other rights set forth in this Agreement for the benefit of the Holders. 
 NOW THEREFORE, in consideration of the mutual
covenants and agreements set forth herein and for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged by each party hereto, the parties hereby agree as follows: 

ARTICLE I 
 DEFINITIONS

 Section 1.1 Definitions. The terms set forth below are used herein as so defined: 

“Affiliate” has the meaning given to such term in the Partnership Agreement. 

“Aggregate Purchase Price” means 88,800,000. 

“Agreement” has the meaning specified therefor in the introductory paragraph of this Agreement. 

“Business Day” means Monday through Friday of each week, except that a legal holiday recognized as such by the government of
the United States of America or the State of Pennsylvania shall not be regarded as a Business Day. 
 “CEI” has the meaning
specified therefor in the recitals of this Agreement. 
 “Class A Preferred Unit” has the meaning given to such term in the
Partnership Agreement. 






 “Class A Preferred Unit Issue Price” has the meaning given to such term in the
Partnership Agreement. 
 “Closing” means the closing of the transactions contemplated by the Contribution Agreement,
including the issuance and sale of the Class A Preferred Units. 
 “Commission” means the U.S. Securities and Exchange
Commission. 
 “Common Unit” has the meaning given to such term in the Partnership Agreement. 

“Conrhein” has the meaning specified therefor in the recitals of this Agreement. 

“Contribution Agreement” has the meaning specified therefor in the recitals of this Agreement. 

“CPCC” has the meaning specified therefor in the recitals of this Agreement. 

“CTH” has the meaning specified therefor in the recitals of this Agreement. 

“Effectiveness Deadline” has the meaning specified therefor in Section 2.19(a) of this Agreement. 

“Effectiveness Period” has the meaning specified therefor in Section 2.1(a) of this Agreement. 

“Exchange Act” has the meaning given to such term in the Partnership Agreement. 

“General Partner” means CNX Coal Resources GP LLC, a Delaware limited liability company. 

“Greenlight Investor Parties” has the meaning given to the term Investor Parties in the Greenlight Registration Rights
Agreement. 
 “Greenlight Registration Rights Agreement” means that certain Registration Rights Agreement, dated as of July
7, 2015, by and among the Partnership and the Greenlight Investor Parties party thereto. 
 “Holder” means the record
holder of any Registrable Securities other than CEI or its Affiliates. 
 “Holder Group” means any Holder and its
Affiliates. 
 “Included Registrable Securities” has the meaning specified therefor in Section 2.2(a) of this
Agreement. 
 “Law” has the meaning given to such term in the Contribution Agreement. 

“Liquidated Damages” has the meaning specified therefor in Section 2.1(b) of this Agreement. 

  
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 “Liquidated Damages Multiplier” means, with respect to a particular Holder, (i)
the product of the Class A Preferred Unit Issue Price multiplied by (ii) the number of Class A Preferred Units owned by such Holder that may not be disposed of without restriction and without the need for current public information pursuant to any
section of Rule 144 (or any similar provision then in effect) under the Securities Act. 
 “Losses” has the meaning
specified therefor in Section 2.9(a) of this Agreement. 
 “Managing Underwriter” means, with respect to any
Underwritten Offering, the book-running lead manager or managers of such Underwritten Offering. 
 “Opt-Out Notice” has the
meaning specified therefor in Section 2.2(a) of this Agreement. 
 “Parity Securities” has the meaning specified
therefor in Section 2.2(b) of this Agreement. 
 “Partnership” has the meaning specified therefor in the
introductory paragraph of this Agreement. 
 “Partnership Agreement” has the meaning specified therefor in the recitals of
this Agreement. 
 “Person” means an individual or a corporation, limited liability company, partnership, firm, joint
venture, trust, unincorporated organization, association, government agency or political subdivision thereof or other entity. 

“Pro Rata” means, for each Selling Holder who has requested participation in a Underwritten Offering, the product of (a) the
aggregate number of Registrable Securities proposed to be sold in such Underwritten Offering multiplied by (b) the fraction derived by dividing (x) the number of Registrable Securities owned as of the date of calculation by such Selling Holder by
(y) the aggregate number of Registrable Securities owned as of the date of calculation by all Selling Holders plus the aggregate number of Parity Securities owned as of the date of calculation by all holders of Parity Securities that are
participating in the Underwritten Offering. 
 “Registrable Securities” means (i) the Common Units issued or to be issued
upon a conversion of Class A Preferred Units and (ii) any Common Units issued as Liquidated Damages pursuant to Section 2.1(b) of this Agreement, in each case, as subject to exchange, substitution or adjustment pursuant to Section 3.4
of this Agreement, all of which Registrable Securities are subject to the rights provided herein until such rights terminate pursuant to the provisions hereof. 

“Registration Expenses” has the meaning specified therefor in Section 2.8(b) of this Agreement. 

“Registration Statement” has the meaning specified therefor in Section 2.1(a) of this Agreement. 

“Securities Act” has the meaning given such term in the Partnership Agreement.

  
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 “Selling Expenses” has the meaning specified therefor in Section 2.8(b)
of this Agreement. 
 “Selling Holder” means a Holder who is selling Registrable Securities pursuant to a registration
statement. 
 “Selling Holder Indemnified Persons” has the meaning specified therefor in Section 2.9(a) of this
Agreement. 
 “Subsidiary” has the meaning given to such term in the Partnership Agreement. 

“Trigger Date” has the meaning specified therefor in Section 2.1(a) of this Agreement. 

“Underwritten Offering” means an offering (including an offering pursuant to a Registration Statement) in which Common Units
are sold to an underwriter on a firm commitment basis for reoffering to the public or an offering that is a “bought deal” with one or more investment banks. 

“Underwritten Offering Request” has the meaning specified therefor in Section 2.4(a) of this Agreement. 

“VWAP” has the meaning given to such term in the Partnership Agreement. 

Section 1.2 Registrable Securities. Any Registrable Security will cease to be a Registrable Security (a) when a registration
statement covering such Registrable Security has been declared effective by the Commission and such Registrable Security has been sold or disposed of pursuant to such effective registration statement; (b) when such Registrable Security has been
disposed of pursuant to any section of Rule 144 (or any similar provision then in effect) under the Securities Act; (c) when such Registrable Security is held by the Partnership or one of its Subsidiaries or other Affiliates; (d) when such
Registrable Security has been sold or disposed of in a private transaction in which the transferor’s rights under this Agreement are not assigned to the transferee of such securities pursuant to Section 2.11 hereof or (e) when such
Registrable Security becomes eligible for resale without restriction and without the need for current public information pursuant to any section of Rule 144 (or any similar provision then in effect) under the Securities Act. 

ARTICLE II 
 REGISTRATION
RIGHTS 
 Section 2.1 Registration. 

(a) Effectiveness Deadline. The Partnership shall use its reasonable best efforts to prepare and file, within 180 days of the date that
the first Holder executes and delivers a joinder agreement to this Agreement pursuant to Section 2.11 of this Agreement (the “Trigger Date”), a registration statement under the Securities Act to permit the public resale of
Registrable Securities then outstanding from time to time with respect to all of the Registrable Securities (the “Registration Statement”). The Registration Statement filed pursuant to this Section 2.1(a) shall be on such
appropriate registration form or forms of the Commission as shall be selected by the 

  
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Partnership and shall be a non-automatic shelf registration statement. The Partnership shall use its reasonable best efforts to cause the Registration Statement to become effective within 360
days after the Trigger Date (the “Effectiveness Deadline”). Any Registration Statement shall provide for the resale pursuant to any method or combination of methods legally available to, and requested by, the Holders of any and all
Registrable Securities covered by such Registration Statement. The Partnership shall use its reasonable best efforts to cause the Registration Statement filed pursuant to this Section 2.1(a) to be effective, supplemented and amended to the
extent necessary to ensure that it is available for the resale of all Registrable Securities by the Holders until all Registrable Securities covered by such Registration Statement have ceased to be Registrable Securities (the “Effectiveness
Period”). The Registration Statement when effective (including the documents incorporated therein by reference) will comply as to form in all material respects with all applicable requirements of the Securities Act and the Exchange Act and
will not contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading (in the case of any prospectus contained in such Registration Statement
or documents incorporated therein by reference, in the light of the circumstances under which a statement is made). As soon as practicable following the date that the Registration Statement becomes effective, but in any event within two (2) Business
Days of such date, the Partnership shall provide the Holders with written notice of the effectiveness of the Registration Statement. 
 (b)
Failure to Go Effective. If the Registration Statement required by Section 2.1(a) is not declared effective by the Effectiveness Deadline, then each Holder shall be entitled to a payment (with respect to each Registrable Security held
by each such Holder), as liquidated damages and not as a penalty, of 0.25% of the Liquidated Damages Multiplier per 30-day period, that shall accrue daily, for the first 60 days following the Effectiveness Deadline, increasing by an additional 0.25%
of the Liquidated Damages Multiplier per 30-day period, that shall accrue daily, for each subsequent 30 days (i.e. 0.50% for 61-90 days, 0.75% for 91-120 days and 1.00% thereafter), up to a maximum of 1.00% of the Liquidated Damages Multiplier per
30-day period (the “Liquidated Damages”). The Liquidated Damages payable pursuant to the immediately preceding sentence shall be payable within fifteen (15) Business Days after the end of each such 30-day period. Notwithstanding
anything to the contrary contained herein, in no event shall the aggregate of all Liquidated Damages payable by the Partnership hereunder exceed 5.00% of the Aggregate Purchase Price. Any Liquidated Damages shall be paid to each Holder in
immediately available funds; provided, however, if the Partnership certifies that it is unable to pay Liquidated Damages in cash because such payment would result in a breach of or constitute a default under a credit facility or other debt
instrument, then the Partnership shall pay such Liquidated Damages using as much cash as is permitted without causing a breach of or default under such credit facility or other debt instrument and shall pay the balance of any such Liquidated Damages
in kind in the form of the issuance of additional Common Units. Upon any issuance of Common Units as Liquidated Damages, the Partnership shall promptly (i) prepare and file an amendment to the Registration Statement prior to its effectiveness adding
such Common Units to such Registration Statement as additional Registrable Securities and (ii) prepare and file a supplemental listing application with the New York Stock Exchange (or such other national securities exchange on which the Common Units
are then-listed and traded) to list such additional Common Units. The determination of the number of Common Units to be issued as Liquidated Damages shall be equal to quotient of (i) the dollar amount of the balance of such Liquidated Damages due to
each such Holder divided by (ii) the volume- weighted average 

  
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trading price of the Common Units on the New York Stock Exchange, or any other national securities exchange on which the Common Units are then-traded, for the ten (10) trading days ending on the
first trading day immediately preceding the date on which the Liquidated Damages payment is due. The payment of Liquidated Damages to a Holder shall cease at the earlier of (i) the Registration Statement becoming effective and (ii) when such Holder
no longer holds Registrable Securities, and any payment of Liquidated Damages shall be prorated for any period of less than 30 days in which the payment of Liquidated Damages ceases. If the Partnership is unable to cause a Registration Statement to
go effective by the Effectiveness Deadline as a result of an acquisition, merger, reorganization, disposition or other similar transaction, then the Partnership may request a waiver of the Liquidated Damages, and each Holder may individually grant
or withhold its consent to such request in its discretion. 
 (c) Termination of Holder’s Rights. A Holder’s rights (and
any transferee’s rights pursuant to Section 2.11) under this Section 2.1 shall terminate upon the termination of the Effectiveness Period. 

Section 2.2 Piggyback Rights. 

(a) Participation. If the Partnership proposes to file (i) a shelf registration statement other than the Registration Statement
contemplated by Section 2.1(a), (ii) a prospectus supplement to an effective shelf registration statement, other than the Registration Statement contemplated by Section 2.1(a) and Holders may be included without the filing of a
post-effective amendment thereto, or (iii) a registration statement, other than a shelf registration statement, in each case, for the sale of Common Units in an Underwritten Offering for its own account and/or another Person, then as soon as
practicable following the engagement of counsel by the Partnership to prepare the documents to be used in connection with an Underwritten Offering, the Partnership shall give notice of such proposed Underwritten Offering to each Holder (together
with its Affiliates) holding at least $15 million of the then-outstanding Registrable Securities (based on the VWAP) and such notice shall offer such Holders the opportunity to include in such Underwritten Offering such number of Registrable
Securities (the “Included Registrable Securities”) as each such Holder may request in writing; provided, however, that if the Partnership has been advised by the Managing Underwriter that the inclusion of Registrable
Securities for sale for the benefit of the Holders will have an adverse effect on the price, timing or distribution of the Common Units in the Underwritten Offering, then (A) if no Registrable Securities can be included in the Underwritten Offering
in the opinion of the Managing Underwriter (after taking into consideration the Common Units included pursuant to the Greenlight Registration Statement which Common Units shall have priority over the Registrable Securities under this Agreement), the
Partnership shall not be required to offer such opportunity to the Holders or (B) if any Registrable Securities can be included in the Underwritten Offering in the opinion of the Managing Underwriter (after taking into consideration the Common Units
included pursuant to the Greenlight Registration Statement which Common Units shall have priority over the Registrable Securities under this Agreement), then the amount of Registrable Securities to be offered for the accounts of Holders shall be
determined based on the provisions of Section 2.2(b). Any notice required to be provided in this Section 2.2(a) to Holders shall be provided on a Business Day pursuant to Section 3.1 hereof and receipt of such notice shall be
confirmed by the Holder. Each such Holder shall then have two (2) Business Days (or one (1) Business Day in connection with any overnight or bought 

  
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Underwritten Offering) after notice has been delivered to request in writing the inclusion of Registrable Securities in the Underwritten Offering. If no written request for inclusion from a
Holder is received within the specified time, each such Holder shall have no further right to participate in such Underwritten Offering. If, at any time after giving written notice of its intention to undertake an Underwritten Offering and prior to
the closing of such Underwritten Offering, the Partnership shall determine for any reason not to undertake or to delay such Underwritten Offering, the Partnership may, at its election, give written notice of such determination to the Selling Holders
and, (x) in the case of a determination not to undertake such Underwritten Offering, shall be relieved of its obligation to sell any Included Registrable Securities in connection with such terminated Underwritten Offering, and (y) in the case of a
determination to delay such Underwritten Offering, shall be permitted to delay offering any Included Registrable Securities for the same period as the delay in the Underwritten Offering. Any Selling Holder shall have the right to withdraw such
Selling Holder’s request for inclusion of such Selling Holder’s Registrable Securities in such Underwritten Offering by giving written notice to the Partnership of such withdrawal at or prior to the time of pricing of such Underwritten
Offering. Any Holder may deliver written notice (an “Opt-Out Notice”) to the Partnership requesting that such Holder not receive notice from the Partnership of any proposed Underwritten Offering; provided, however, that such
Holder may later revoke any such Opt-Out Notice in writing. Following receipt of an Opt-Out Notice from a Holder (unless subsequently revoked), the Partnership shall not be required to deliver any notice to such Holder pursuant to this Section
2.2 and such Holder shall no longer be entitled to participate in Underwritten Offerings by the Partnership pursuant to this Section 2.2(a). 

(b) Priority. In connection with an Underwritten Offering contemplated by Section 2.2(a), if the Managing Underwriter or
Underwriters of any proposed Underwritten Offering advises the Partnership or the Greenlight Investor Parties that in its or their view the total number or dollar amount of Registrable Securities that the Selling Holders and any other Persons intend
to include in such offering exceeds the number that can be sold in such offering without being likely to have an adverse effect on the price, timing or distribution of the Common Units offered or the market for the Common Units, then the Common
Units to be included in such Underwritten Offering shall include the number of Registrable Securities that in the opinion of such Managing Underwriter or Underwriters advises the Partnership or Greenlight Investor Parties can be sold without
adversely affecting such offering shall be allocated (i) first, to the Partnership and/or the Greenlight Investor Parties (if applicable), as determined by the Greenlight Registration Rights Agreement, and (ii) second, Pro Rata among the Selling
Holders who have requested participation in such Underwritten Offering and any other holder of securities of the Partnership having rights of registration that are neither expressly senior nor subordinated to the Registrable Securities (the
“Parity Securities”). 
 (c) Termination of Piggyback Registration Rights. Each Holder’s rights under this
Section 2.2 shall terminate upon such Holder (together with its Affiliates) ceasing to hold at least $15 million of Registrable Securities (based on the VWAP). Each Holder shall notify the Partnership in writing when such Holder holds less
than $15 million of Registrable Securities (based on the VWAP). 
 Section 2.3 Delay Rights. 

  
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 Notwithstanding anything to the contrary contained herein, the Partnership may, upon written
notice to any Selling Holder whose Registrable Securities are included in the Registration Statement or other registration statement contemplated by this Agreement, suspend such Selling Holder’s use of any prospectus which is a part of the
Registration Statement or other registration statement contemplated by this Agreement (in which event the Selling Holder shall discontinue sales of the Registrable Securities pursuant to the Registration Statement or such other registration
statement but may settle any previously made sales of Registrable Securities) if (i) the Partnership is pursuing an acquisition, merger, reorganization, disposition, financing or other similar transaction and the Partnership determines in good faith
that it is in the best interests of the Partnership not to disclose the existence of material facts surrounding such a transaction in the Registration Statement or such other registration statement or (ii) the Partnership has experienced some other
material non-public event, the disclosure of which at such time, in the good faith judgment of the Partnership, is in the best interest of the Partnership to not disclose; provided, however, in no event shall the Selling Holders be suspended
from selling Registrable Securities pursuant to the Registration Statement or such other registration statement for a period that exceeds an aggregate of 60 days in any 180- day period or 105 days in any 365-day period, in each case, exclusive of
days covered by any lock-up agreement executed by a Selling Holder in connection with any Underwritten Offering or executed pursuant to Section 2.12(b). Upon disclosure of such information or the termination of the condition described above,
the Partnership shall provide prompt notice to the Selling Holders whose Registrable Securities are included in the Registration Statement or other registration statement contemplated by this Agreement, and shall promptly terminate any suspension of
sales it has put into effect and shall take such other reasonable actions to permit registered sales of Registrable Securities as contemplated in this Agreement. 

If (i) the Selling Holders shall be prohibited from selling their Registrable Securities under the Registration Statement or other
registration statement contemplated by this Agreement as a result of a suspension pursuant to the immediately preceding paragraph in excess of the periods permitted therein or (ii) the Registration Statement or other registration statement
contemplated by this Agreement is filed and declared effective but, during the Effectiveness Period, shall thereafter cease to be effective or fail to be usable for its intended purpose without being succeeded within 30 Business Days by a
post-effective amendment thereto, a supplement to the prospectus or a report filed with the Commission pursuant to Section 13(a), 13(c), 14 or l5(d) of the Exchange Act, then, until the suspension is lifted or a post-effective amendment, supplement
or report is filed with the Commission, but not including any day on which a suspension is lifted or such amendment, supplement or report is filed and declared effective, if applicable, the Partnership shall pay the Selling Holders an amount equal
to the Liquidated Damages, following the earlier of (x) the date on which the suspension period exceeded the permitted period and (y) the thirty-first (31st) Business Day after the Registration Statement or other registration statement contemplated
by this Agreement ceased to be effective or failed to be useable for its intended purposes, as liquidated damages and not as a penalty (for purposes of calculating Liquidated Damages, the date in (x) or (y) above shall be deemed the
“Effectiveness Deadline,” for purposes of calculating Liquidated Damages). For purposes of this paragraph, a suspension shall be deemed lifted on the date that notice that the suspension has been terminated is delivered to the Selling
Holders. Any Liquidated Damages shall cease to accrue pursuant to this paragraph upon the earlier of (1) a suspension being deemed lifted and (2) when such Holder no longer holds Registrable Securities, and any payment of Liquidated Damages
shall be prorated for any period of less than 30 days in which the payment of Liquidated Damages ceases. 

  
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 Section 2.4 Underwritten Offerings. 

(a) Request for Underwritten Offering. In the event that a Selling Holder (together with any Affiliates that are Selling Holders)
elects to dispose of Registrable Securities under a Shelf Registration Statement pursuant to an Underwritten Offering and reasonably anticipates gross proceeds of at least the lesser of (i) $15 million from such Underwritten Offering of Registrable
Securities or (ii) 100% of the remaining Common Units issued or to be issued upon conversion of the Series A Preferred Units, the Partnership shall, at the request of such Selling Holder (each, an “Underwritten Offering Request”),
enter into an underwriting agreement in customary form with the Managing Underwriter or Underwriters, which shall include, among other provisions, indemnities to the effect and to the extent provided in Section 2.9, and shall take all such
other reasonable actions as are requested by the Managing Underwriter to expedite or facilitate the disposition of the Registrable Securities; provided, however, that the Partnership shall not be required to effect more than three (3)
Underwritten Offerings pursuant to this Section 2.4, in the aggregate, and shall not be required to effect more than two (2) Underwritten Offerings pursuant to this Section 2.4 in any 12-month period. 

(b) General Procedures. In connection with any Underwritten Offering under this Agreement, the Partnership shall be entitled to select
the Managing Underwriter or Underwriters. In connection with an Underwritten Offering contemplated by this Agreement in which a Selling Holder participates, each Selling Holder and the Partnership shall be obligated to enter into an underwriting
agreement that contains such representations, covenants, indemnities and other rights and obligations as are customary in underwriting agreements for firm commitment offerings of securities. No Selling Holder may participate in such Underwritten
Offering unless such Selling Holder agrees to sell its Registrable Securities on the basis provided in such underwriting agreement and completes and executes all questionnaires, powers of attorney, indemnities and other documents reasonably required
under the terms of such underwriting agreement. Each Selling Holder may, at its option, require that any or all of the representations and warranties by, and the other agreements on the part of, the Partnership to and for the benefit of such
underwriters also be made to and for such Selling Holder’s benefit and that any or all of the conditions precedent to the obligations of such underwriters under such underwriting agreement also be conditions precedent to its obligations. No
Selling Holder shall be required to make any representations or warranties to or agreements with the Partnership or the underwriters other than representations, warranties or agreements regarding such Selling Holder, its authority to enter into such
underwriting agreement and to sell, and its ownership of, the securities being registered on its behalf, its intended method of distribution and any other representation required by Law. If any Selling Holder disapproves of the terms of an
underwriting, such Selling Holder may elect to withdraw therefrom by notice to the Partnership and the Managing Underwriter; provided, however, that such withdrawal must be made up to and including the time of pricing of such Underwritten
Offering. No such withdrawal or abandonment shall affect the Partnership’s obligation to pay Registration Expenses. The Partnership’s management may but shall not be required to participate in a roadshow or similar marketing effort in
connection with any Underwritten Offering. 

  
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 (c) Priority. If the Managing Underwriter or Underwriters advises the Selling Holders
in writing that in its or their view the total number or dollar amount of Registrable Securities proposed to be sold in an underwritten offering under this Section 2.4 is such as to adversely affect the success of such offering (including
securities proposed to be included by other Holders and the Greenlight Investor Parties pursuant to the Greenlight Registration Rights Agreement), then the number of Registrable Securities that in the opinion of such Managing Underwriter or
Underwriters advises the Partnership can be sold without adversely affecting such offering shall be allocated (i) first, to the Greenlight Investor Parties (if applicable), and (ii) second, Pro Rata among the Selling Holders who have requested
participation in such Underwritten Offering and any other holder of any other Parity Securities. In connection with any underwritten offering to which the Underwritten Offering excludes more than 50% of the aggregate number of Registrable
Securities requested to be included by the Holders due to the inclusion of securities held by the Greenlight Investor Parties pursuant to the Greenlight Registration Rights Agreement, such Underwritten Offering shall not reduce the number of
Underwritten Offerings available to the Holders. 
 Section 2.5 Sale Procedures. In connection with its obligations under this
Article II, the Partnership will, as reasonably expeditiously as possible: 
 (a) prepare and file with the Commission such amendments and
supplements to the Registration Statement and the prospectus and any prospectus supplement used in connection therewith as may be necessary to keep the Registration Statement effective for the Effectiveness Period and as may be necessary to comply
with the provisions of the Securities Act with respect to the disposition of all Registrable Securities covered by the Registration Statement; 

(b) if a prospectus or prospectus supplement will be used in connection with the marketing of an Underwritten Offering from the Registration
Statement and the Managing Underwriter at any time shall notify the Partnership in writing that, in the sole judgment of such Managing Underwriter, inclusion of detailed information to be used in such prospectus or prospectus supplement is of
material importance to the success of the Underwritten Offering of such Registrable Securities, the Partnership shall use its commercially reasonable efforts to include such information in such prospectus or prospectus supplement; 

(c) furnish to each Selling Holder (i) as far in advance as reasonably practicable before filing the Registration Statement or any other
registration statement contemplated by this Agreement or any supplement or amendment thereto, upon request, copies of reasonably complete drafts of all such documents proposed to be filed (including exhibits and each document incorporated by
reference therein to the extent then required by the rules and regulations of the Commission), and provide each such Selling Holder the opportunity to object to any information pertaining to such Selling Holder and its plan of distribution that is
contained therein and make the corrections reasonably requested by such Selling Holder with respect to such information prior to filing the Registration Statement or such other registration statement or supplement or amendment thereto, and (ii) such
number of copies of the Registration Statement or such other registration statement and the prospectus and any prospectus supplement included therein and any supplements and amendments thereto as such Selling Holder may reasonably request in order
to facilitate the public sale or other disposition of the Registrable Securities covered by such Registration Statement or other registration statement; 

  
 10 







 (d) if applicable, use its reasonable best efforts to register or qualify the Registrable
Securities covered by the Registration Statement or any other registration statement contemplated by this Agreement under the securities or blue sky laws of such jurisdictions as the Selling Holders or, in the case of an Underwritten Offering, the
Managing Underwriter, shall reasonably request; provided, however, that the Partnership will not be required to qualify generally to transact business in any jurisdiction where it is not then required to so qualify or to take any action that
would subject it to general service of process in any such jurisdiction where it is not then so subject; 
 (e) promptly notify each Selling
Holder, at any time when a prospectus relating thereto is required to be delivered by any of them under the Securities Act, of (i) the filing of the Registration Statement or any other registration statement contemplated by this Agreement or any
prospectus or prospectus supplement to be used in connection therewith, or any amendment or supplement thereto, and, with respect to such Registration Statement or any such other registration statement or any post-effective amendment thereto, when
the same has become effective; and (ii) the receipt of any written comments from the Commission with respect to any filing referred to in clause (i) and any written request by the Commission for amendments or supplements to the Registration
Statement or any such other registration statement or any prospectus or prospectus supplement thereto; 
 (f) promptly notify each Selling
Holder of (i) the happening of any event as a result of which the prospectus or prospectus supplement contained in the Registration Statement or any other registration statement contemplated by this Agreement, as then in effect, includes an untrue
statement of a material fact or omits to state any material fact required to be stated therein or necessary to make the statements therein not misleading (in the case of any prospectus or prospectus supplement contained therein, in the light of the
circumstances under which such statement is made); (ii) the issuance or express threat of issuance by the Commission of any stop order suspending the effectiveness of the Registration Statement or any other registration statement contemplated by
this Agreement, or the initiation of any proceedings for that purpose; or (iii) the receipt by the Partnership of any notification with respect to the suspension of the qualification of any Registrable Securities for sale under the applicable
securities or blue sky laws of any jurisdiction. Following the provision of such notice, the Partnership agrees, subject to Section 2.3, to as promptly as practicable amend or supplement the prospectus or prospectus supplement or take other
appropriate action so that the prospectus or prospectus supplement does not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading in
the light of the circumstances then existing and to take such other commercially reasonable action as is necessary to remove a stop order, suspension, threat thereof or proceedings related thereto; 

(g) upon request and subject to appropriate confidentiality obligations, furnish to each Selling Holder copies of any and all transmittal
letters or other correspondence with the Commission or any other governmental agency or self-regulatory body or other body having jurisdiction (including any domestic or foreign securities exchange) relating to such offering of Registrable
Securities; 
 (h) in the case of an Underwritten Offering, furnish upon request, (i) an opinion of counsel for the Partnership dated the
date of the closing under the underwriting agreement and 

  
 11 







 
(ii) a “comfort” letter, dated the pricing date of such Underwritten Offering and a letter of like kind dated the date of the closing under the underwriting agreement, in each case,
signed by the independent public accountants who have certified the Partnership’s financial statements included or incorporated by reference into the applicable registration statement, and each of the opinion and the “comfort” letter
shall be in customary form and covering substantially the same matters with respect to such registration statement (and the prospectus and any prospectus supplement included therein) as have been customarily covered in opinions of issuer’s
counsel and in accountants’ letters delivered to the underwriters in Underwritten Offerings of securities by the Partnership and such other matters as such underwriters may reasonably request; 

(i) otherwise use its reasonable best efforts to comply with all applicable rules and regulations of the Commission, and make available to its
security holders, as soon as reasonably practicable, an earnings statement, which earnings statement shall satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 promulgated thereunder; 

(j) make available to the appropriate representatives of the Managing Underwriter and Selling Holders access to such information and
Partnership personnel as is reasonable and customary to enable such parties to establish a due diligence defense under the Securities Act; provided, that the Partnership need not disclose any non-public information to any such representative
unless and until such representative has entered into a confidentiality agreement with the Partnership; 
 (k) on or prior to the Trigger
Date or as soon as practical thereafter, cause all such Registrable Securities registered pursuant to this Agreement to be listed on each securities exchange or nationally recognized quotation system on which similar securities issued by the
Partnership are then listed; 
 (l) use its reasonable best efforts to cause the Registrable Securities to be registered with or approved by
such other governmental agencies or authorities as may be necessary by virtue of the business and operations of the Partnership to enable the Selling Holders to consummate the disposition of such Registrable Securities; 

(m) provide a transfer agent and registrar for all Registrable Securities covered by such registration statement not later than the effective
date of such registration statement; 
 (n) enter into customary agreements and take such other actions as are reasonably requested by the
Selling Holders or the underwriters, if any, in order to expedite or facilitate the disposition of such Registrable Securities; and 
 (o)
if requested by a Selling Holder, (i) incorporate in a prospectus or prospectus supplement or post-effective amendment to the Registration Statement or any other registration statement contemplated by this Agreement such information as such Selling
Holder reasonably requests to be included therein relating to the sale and distribution of Registrable Securities, including information with respect to the number of Registrable Securities being offered or sold, the purchase price being paid
therefor and any other terms of the offering of the Registrable Securities to be sold in such offering and (ii) make all required filings of such prospectus or prospectus supplement or post-effective amendment after being notified of the matters to
be incorporated in such prospectus or prospectus supplement or post-effective amendment. 

  
 12 







 The Partnership shall not name a Holder as an underwriter as defined in Section 2(a)(11) of the
Securities Act in any registration statement without such Holder’s consent. If the staff of the Commission requires the Partnership to name any Holder as an underwriter as defined in Section 2(a)(11) of the Securities Act, or the Partnership
deems it advisable, on the advice of counsel, to so name any Holder, and such Holder does not consent thereto, then such Holder’s Registrable Securities shall not be included on the Registration Statement (or any other registration statement
contemplated by this Agreement), such Holder shall no longer be entitled to receive Liquidated Damages under this Agreement with respect thereto, the Partnership shall have no further obligations hereunder with respect to Registrable Securities held
by such Holder and such Holder shall be deemed to have terminated this Agreement with respect to such Holder. 
 Each Selling Holder, upon
receipt of notice from the Partnership of the happening of any event of the kind described in subsection (f) of this Section 2.5, shall forthwith discontinue offers and sales of the Registrable Securities by means of a prospectus or
prospectus supplement until such Selling Holder’s receipt of the copies of the supplemented or amended prospectus or prospectus supplement contemplated by subsection (f) of this Section 2.5 or until it is advised in writing by the
Partnership that the use of the prospectus or prospectus supplement may be resumed and has received copies of any additional or supplemental filings incorporated by reference in the prospectus or prospectus supplement, and, if so directed by the
Partnership, such Selling Holder will, or will request the Managing Underwriter(s), if any, to deliver to the Partnership (at the Partnership’s expense) all copies in their possession or control, other than permanent file copies then in such
Selling Holder’s possession, of the prospectus or prospectus supplement covering such Registrable Securities current at the time of receipt of such notice. 

Section 2.6 Cooperation by Holders. The Partnership shall have no obligation to include in the Registration Statement, or in an
Underwritten Offering pursuant to Section 2.2(a). Registrable Securities of a Holder who has failed to timely furnish such information that the Partnership determines, after consultation with its counsel, is reasonably required in order for
the registration statement or prospectus or prospectus supplement, as applicable, to comply with the Securities Act. 
 Section 2.7
Restrictions on Public Sale by Holders of Registrable Securities. Each Holder of Registrable Securities agrees, if requested by the underwriters of an Underwritten Offering, to enter into a customary letter agreement with such
underwriters providing such Holder will not effect any public sale or distribution of Registrable Securities during the 60 calendar day period beginning on the date of a prospectus or prospectus supplement filed with the Commission with respect to
the pricing of any Underwritten Offering, provided that (i) the duration of the foregoing restrictions shall be no longer than the duration of the shortest restriction generally imposed by the underwriters on the Partnership or the officers,
directors or any other Affiliate of the Partnership on whom a restriction is imposed and (ii) the restrictions set forth in this Section 2.7 shall not apply to any Registrable Securities that are included in such Underwritten Offering by such
Holder. 
 Section 2.8 Expenses. 

  
 13 







 (a) Expenses. The Partnership will pay all reasonable Registration Expenses as determined
in good faith, including, in the case of an Underwritten Offering, whether or not any sale is made pursuant to such Underwritten Offering. Each Selling Holder shall pay its pro rata share of all Selling Expenses in connection with any sale of its
Registrable Securities hereunder. In addition, except as otherwise provided in Section 2.9 hereof, the Partnership shall not be responsible for professional fees, including legal fees, incurred by Holders in connection with the exercise of
such Holders’ rights hereunder. 
 (b) Certain Definitions. “Registration Expenses” means all expenses incident
to the Partnership’s performance under or compliance with this Agreement to effect the registration of Registrable Securities on the Registration Statement pursuant to Section 2.1(a) or an Underwritten Offering covered under this
Agreement, and the disposition of such Registrable Securities, including, without limitation, all registration, filing, securities exchange listing and New York Stock Exchange fees, all registration, filing, qualification and other fees and expenses
of complying with securities or blue sky laws, fees of the Financial Industry Regulatory Authority, fees of transfer agents and registrars, all word processing, duplicating and printing expenses, any transfer taxes and the fees and disbursements of
counsel and independent public accountants for the Partnership, including the expenses of any special audits or “comfort” letters required by or incident to such performance and compliance. “Selling Expenses” means all
underwriting fees, discounts and selling commissions or similar fees or arrangements allocable to the sale of the Registrable Securities. 

Section 2.9 Indemnification. 

(a) By the Partnership. In the event of a registration of any Registrable Securities under the Securities Act pursuant to this
Agreement, the Partnership will indemnify and hold harmless each Selling Holder thereunder, its directors, officers, employees and agents and each Person, if any, who controls such Selling Holder within the meaning of the Securities Act and the
Exchange Act, and its directors, officers, employees or agents (collectively, the “Selling Holder Indemnified Persons”), against any losses, claims, damages, expenses or liabilities (including reasonable attorneys’ fees and
expenses) (collectively, “Losses”), joint or several, to which such Selling Holder Indemnified Person may become subject under the Securities Act, the Exchange Act or otherwise, insofar as such Losses (or actions or proceedings,
whether commenced or threatened, in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact (in the case of any prospectus or prospectus supplement, in the light of the circumstances
under which such statement is made) contained in the Registration Statement or any other registration statement contemplated by this Agreement, any preliminary prospectus, preliminary prospectus supplement, free writing prospectus or final
prospectus or prospectus supplement contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the
statements therein (in the case of a prospectus or prospectus supplement, in the light of the circumstances under which they were made) not misleading, and will reimburse each such Selling Holder Indemnified Person for any legal or other expenses
reasonably incurred by them in connection with investigating or defending any such Loss or actions or proceedings; provided, however, that the Partnership will not be liable in any such case if and to the extent that any such Loss arises out
of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission so made in conformity 

  
 14 







 
with information furnished by such Selling Holder Indemnified Person in writing specifically for use in the Registration Statement or such other registration statement contemplated by this
Agreement, any preliminary prospectus, preliminary prospectus supplement, free writing prospectus, or final prospectus or prospectus supplement contained therein, or any amendment or supplement thereof. Such indemnity shall remain in full force and
effect regardless of any investigation made by or on behalf of such Selling Holder Indemnified Person, and shall survive the transfer of such securities by such Selling Holder. 

(b) By Each Selling Holder. Each Selling Holder agrees severally and not jointly to indemnify and hold harmless the Partnership, the
General Partner, its directors, officers, employees and agents and each Person, if any, who controls the Partnership within the meaning of the Securities Act or of the Exchange Act, and its directors, officers, employees and agents, to the same
extent as the foregoing indemnity from the Partnership to the Selling Holders, but only with respect to information regarding such Selling Holder furnished in writing by or on behalf of such Selling Holder expressly for inclusion in the Registration
Statement or any other registration statement contemplated by this Agreement, any preliminary prospectus, preliminary prospectus supplement, free writing prospectus or final prospectus or prospectus supplement contained therein, or any amendment or
supplement thereof; provided, however, that the liability of each Selling Holder shall not be greater in amount than the dollar amount of the proceeds (net of any Selling Expenses) received by such Selling Holder from the sale of the
Registrable Securities giving rise to such indemnification. 
 (c) Notice. Promptly after receipt by an indemnified party hereunder
of notice of the commencement of any action, such indemnified party shall, if a claim in respect thereof is to be made against the indemnifying party hereunder, notify the indemnifying party in writing thereof, but the omission so to notify the
indemnifying party shall not relieve it from any liability that it may have to any indemnified party other than under this Section 2.9. In any action brought against any indemnified party, it shall notify the indemnifying party of the
commencement thereof. The indemnifying party shall be entitled to participate in and, to the extent it shall wish, to assume and undertake the defense thereof with counsel reasonably satisfactory to such indemnified party and, after notice from the
indemnifying party to such indemnified party of its election so to assume and undertake the defense thereof, the indemnifying party shall not be liable to such indemnified party under this Section 2.9 for any legal expenses subsequently
incurred by such indemnified party in connection with the defense thereof other than reasonable costs of investigation and of liaison with counsel so selected; provided, however, that, (i) if the indemnifying party has failed to assume the
defense or employ counsel reasonably acceptable to the indemnified party or (ii) if the defendants in any such action include both the indemnified party and the indemnifying party and counsel to the indemnified party shall have concluded that there
may be reasonable defenses available to the indemnified party that are different from or additional to those available to the indemnifying party, or if the interests of the indemnified party reasonably may be deemed to conflict with the interests of
the indemnifying party, then the indemnified party shall have the right to select a separate counsel and to assume such legal defense and otherwise to participate in the defense of such action, with the reasonable expenses and fees of such separate
counsel and other reasonable expenses related to such participation to be reimbursed by the indemnifying party as incurred. No indemnifying party shall be liable for any settlement entered into without its written consent, which consent shall
not be unreasonably withheld. Notwithstanding any other provision of this Agreement, no indemnifying party shall 

  
 15 







 
settle any action brought against any indemnified party with respect to which such indemnified party is entitled to indemnification hereunder without the consent of the indemnified party, unless
the settlement thereof imposes no liability or obligation on, and includes a complete and unconditional release from all liability of, the indemnified party. 

(d) Contribution. If the indemnification provided for in this Section 2.9 is held by a court or government agency of competent
jurisdiction to be unavailable to any indemnified party or is insufficient to hold them harmless in respect of any Losses, then each such indemnifying party, in lieu of indemnifying such indemnified party, shall contribute to the amount paid or
payable by such indemnified party as a result of such Loss in such proportion as is appropriate to reflect the relative fault of the indemnifying party on the one hand and of such indemnified party on the other in connection with the statements or
omissions that resulted in such Losses, as well as any other relevant equitable considerations; provided, however, that in no event shall such Selling Holder be required to contribute an aggregate amount in excess of the dollar amount of
proceeds (net of Selling Expenses) received by such Selling Holder from the sale of Registrable Securities giving rise to such indemnification. The relative fault of the indemnifying party on the one hand and the indemnified party on the other shall
be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact has been made by, or relates to, information supplied by such party,
and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The parties hereto agree that it would not be just and equitable if contributions pursuant to this paragraph
were to be determined by pro rata allocation or by any other method of allocation that does not take account of the equitable considerations referred to herein. The amount paid by an indemnified party as a result of the Losses referred to in the
first sentence of this paragraph shall be deemed to include any legal and other expenses reasonably incurred by such indemnified party in connection with investigating or defending any Loss that is the subject of this paragraph. No person guilty of
fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who is not guilty of such fraudulent misrepresentation. 

(e) Other Indemnification. The provisions of this Section 2.9 shall be in addition to any other rights to indemnification or
contribution that an indemnified party may have pursuant to law, equity, contract or otherwise. 
 Section 2.10 Rule 144 Reporting.
With a view to making available the benefits of certain rules and regulations of the Commission that may permit the sale of the Registrable Securities to the public without registration, the Partnership agrees to use its commercially reasonable
efforts to: 
 (a) make and keep public information regarding the Partnership available, as those terms are understood and defined in Rule
144 under the Securities Act, at all times from and after the date hereof; 
 (b) file with the Commission in a timely manner all reports
and other documents required of the Partnership under the Securities Act and the Exchange Act at all times from and after the date hereof; and 

  
 16 







 (c) so long as a Holder owns any Registrable Securities, furnish (i) to the extent accurate,
forthwith upon request, a written statement of the Partnership that it has complied with the reporting requirements of Rule 144 under the Securities Act, and (ii) unless otherwise available via EDGAR, to such Holder forthwith upon request a copy of
the most recent annual or quarterly report of the Partnership, and such other reports and documents so filed as such Holder may reasonably request in availing itself of any rule or regulation of the Commission allowing such Holder to sell any such
securities without registration. 
 Solely for purposes of Section 2.10(c), the term “Registrable Securities” shall be read
without regard to the limitation set forth in Section 1.2(e). 
 Section 2.11 Transfer or Assignment of Registration Rights.
The rights to cause the Partnership to register Registrable Securities granted to the Holders by the Partnership under this Article II may be transferred or assigned by any Holder to one or more transferees or assignees of Registrable
Securities; provided, however, that (a) unless the transferee or assignee is an Affiliate of, and after such transfer or assignment continues to be an Affiliate of, such Holder, the amount of Registrable Securities transferred or assigned to
such transferee or assignee shall represent at least $15 million of Registrable Securities (based on the VWAP), (b) the Partnership is given written notice prior to any said transfer or assignment, stating the name and address of each such
transferee or assignee and identifying the securities with respect to which such registration rights are being transferred or assigned, (c) each such transferee or assignee executes a joinder agreement to this Agreement under which it becomes a
“Holder” under this Agreement and agrees to be bound by the provisions of this Agreement applicable to Holders and (d) the transferor or assignor is not relieved of any obligations or liabilities hereunder arising out of events occurring
prior to such transfer. 
 Section 2.12 Other Registration Rights. Each of the Holders acknowledges that, prior to the date of this
Agreement, Partnership has entered into the Greenlight Registration Rights Agreement. Each of the Holders is familiar with the rights granted thereunder and agrees that, notwithstanding anything to the contrary in this Agreement, the
registration rights granted to the Holders hereunder are subordinate to such registration rights provided under the Greenlight Registration Rights Agreement. Each of the Holders agrees that it shall cooperate in all reasonable respects with the
Partnership in coordinating the exercise of its rights hereunder with the rights granted under the Greenlight Registration Rights Agreement. Furthermore, the Holders agree to execute any lock-up agreement reasonably requested by the Partnership
or the underwriters in connection with any underwritten offering made pursuant to the Greenlight Registration Rights Agreement. 
 ARTICLE
III 
 MISCELLANEOUS 

Section 3.1 Communications. All notices and other communications provided for or permitted hereunder shall be made in writing by
facsimile, electronic mail, courier service or personal delivery: 
 (a) if to a Holder, to such Holder at the address provided pursuant to
Section 2.11 above; and 

  
 17 







 (b) if to the Partnership: 

CNX Coal Resources LP 
 1000
CONSOL Energy Drive 
 Canonsburg PA, 15317 

Attention: Chief Financial Officer 

Email: LoriRitter@cnxlp.com 
 with
a copy to: 
 Attention: General Counsel 

Email: MarthaWiegand@cnxlp.com 

All such notices and communications shall be deemed to have been received at the time delivered by hand, if personally delivered; when receipt
acknowledged, if sent via facsimile or sent via Internet electronic mail; and when actually received, if sent by courier service or any other means. 

Section 3.2 Successor and Assigns. This Agreement shall inure to the benefit of and be binding upon the successors and permitted
assigns of each of the parties, including subsequent Holders of Registrable Securities to the extent permitted herein. 
 Section 3.3
Assignment of Rights. All or any portion of the rights and obligations of any Holder under this Agreement may be transferred or assigned by such Holder only in accordance with Section 2.11 hereof. 

Section 3.4 Recapitalization, Exchanges, Etc. Affecting the Units. The provisions of this Agreement shall apply to the full extent set
forth herein with respect to any and all units of the Partnership or any successor or assign of the Partnership (whether by merger, consolidation, sale of assets or otherwise) that may be issued in respect of, in exchange for or in substitution of,
the Registrable Securities, and shall be appropriately adjusted for combinations, unit splits, recapitalizations, pro rata distributions of units and the like occurring after the date of this Agreement. 

Section 3.5 Aggregation of Registrable Securities. All Registrable Securities held or acquired by Persons who are
Affiliates of one another shall be aggregated together for the purpose of determining the availability of any rights and applicability of any obligations under this Agreement. 

Section 3.6 Specific Performance. Damages in the event of breach of this Agreement by a party hereto may be difficult, if not
impossible, to ascertain, and it is therefore agreed that each such Person, in addition to and without limiting any other remedy or right it may have, will have the right to an injunction or other equitable relief in any court of competent
jurisdiction, enjoining any such breach, and enforcing specifically the terms and provisions hereof, and each of the parties hereto hereby waives any and all defenses it may have on the ground of lack of jurisdiction or competence of the court to
grant such an injunction or other equitable relief. The existence of this right will not preclude any such Person from pursuing any other rights and remedies at law or in equity that such Person may have. 

  
 18 







 Section 3.7 Counterparts. This Agreement may be executed in any number of counterparts and
by different parties hereto in separate counterparts, each of which counterparts, when so executed and delivered, shall be deemed to be an original and all of which counterparts, taken together, shall constitute but one and the same Agreement. In
the event that any signature is delivered by facsimile transmission or by e-mail delivery of a “.pdf’ format data file, such signature shall create a valid and binding obligation of the party executing (or on whose behalf such signature is
executed) with the same force and effect as if such facsimile or “.pdf’ signature page were an original thereof. 
 Section 3.8
Headings. The headings in this Agreement are for convenience of reference only and shall not limit or otherwise affect the meaning hereof. 

Section 3.9 Governing Law. THIS AGREEMENT WILL BE CONSTRUED IN ACCORDANCE WITH, AND GOVERNED BY, THE LAWS OF THE STATE OF DELAWARE,
WITHOUT GIVING EFFECT TO ANY CONFLICTS OF LAWS PRINCIPLES THAT WOULD RESULT IN THE APPLICATION OF ANY LAW OTHER THAN THE LAW OF THE STATE OF DELAWARE. 

Section 3.10 Severability of Provisions. Any provision of this Agreement which is prohibited or unenforceable in any jurisdiction
shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof or affecting or impairing the validity or enforceability of such provision in any other
jurisdiction. 
 Section 3.11 Entire Agreement. This Agreement, the Contribution Agreement and the other agreements and documents
referred to herein are intended by the parties as a final expression of their agreement and intended to be a complete and exclusive statement of the agreement and understanding of the parties hereto in respect of the subject matter contained herein.
There are no restrictions, promises, warranties, representations or undertakings, other than those set forth or referred to herein with respect to the rights granted by the Partnership set forth herein. This Agreement and the Contribution Agreement
supersede all prior agreements and understandings between the parties with respect to such subject matter. 
 Section 3.12 Amendment.
This Agreement may be amended only by means of a written amendment signed by the Partnership and the Holders of a majority of the then outstanding Registrable Securities. 

Section 3.13 No Presumption. If any claim is made by a party relating to any conflict, omission or ambiguity in this Agreement, no
presumption or burden of proof or persuasion shall be implied by virtue of the fact that this Agreement was prepared by or at the request of a particular party or its counsel. 

Section 3.14 Obligations Limited to Parties to Agreement. Each of the parties hereto covenants, agrees and acknowledges that no Person
other than the Holders (and their permitted transferees and assignees) and the Partnership shall have any obligation hereunder and that, 

  
 19 







 
notwithstanding that one or more of the Holders may be a corporation, partnership or limited liability company, no recourse under this Agreement or under any documents or instruments delivered in
connection herewith or therewith shall be had against any former, current or future director, officer, employee, agent, general or limited partner, manager, member, stockholder or Affiliate of any of the Holders or any former, current or future
director, officer, employee, agent, general or limited partner, manager, member, stockholder or Affiliate of any of the foregoing, whether by the enforcement of any assessment or by any legal or equitable proceeding, or by virtue of any applicable
Law, it being expressly agreed and acknowledged that no personal liability whatsoever shall attach to, be imposed on or otherwise be incurred by any former, current or future director, officer, employee, agent, general or limited partner, manager,
member, stockholder or Affiliate of any of the Holders or any former, current or future director, officer, employee, agent, general or limited partner, manager, member, stockholder or Affiliate of any of the foregoing, as such, for any obligations
of the Holders under this Agreement or any documents or instruments delivered in connection herewith or therewith or for any claim based on, in respect of or by reason of such obligation or its creation, except in each case for any transferee or
assignee of a Holder hereunder. 
 Section 3.15 Independent Nature of Holder’s Obligations. The obligations of
each Holder (and their permitted transferees and assignees) under this Agreement are several and not joint with the obligations of any other Holder, and no Holder shall be responsible in any way for the performance of the obligations of any other
Holder under this Agreement. Nothing contained herein, and no action taken by any Holder pursuant thereto, shall be deemed to constitute the Holders as a partnership, an association, a joint venture or any other kind of group or entity, or create a
presumption that the Holders are in any way acting in concert or as a group with respect to such obligations or the transactions contemplated by this Agreement. Each Holder shall be entitled to independently protect and enforce its rights, including
without limitation, the rights arising out of this Agreement, and it shall not be necessary for any other Holder to be joined as an additional party in any proceeding for such purpose.. 

Section 3.16 Interpretation. Article and Section references to this Agreement, unless otherwise specified. All references to
instruments, documents, contracts and agreements are references to such instruments, documents, contracts and agreements as the same may be amended, supplemented and otherwise modified from time to time, unless otherwise specified. The word
“including” shall mean “including but not limited to.” Whenever any determination, consent or approval is to be made or given by a Holder under this Agreement, such action shall be in such Holder’s sole discretion unless
otherwise specified. 
 Section 3.17 Exclusive Jurisdiction in Delaware. The parties hereto submit to the exclusive jurisdiction
of the Court of Chancery of the State of Delaware or, if such Court does not have subject matter jurisdiction, to the Superior Court of the State of Delaware or, if jurisdiction is vested exclusively in the Federal courts of the United States, the
Federal courts of the United States sitting in the State of Delaware, and any appellate court from any such state or Federal court, and hereby irrevocably and unconditionally agree that all claims with respect to any such claim shall be heard and
determined in such Delaware court or, to the extent required by applicable Law, in such Federal court. The parties agree that a final judgment in any such claim is conclusive and may be enforced in any other jurisdiction by suit on the judgment or
in any other manner provided by law. Each of the parties irrevocably and unconditionally waives, 

  
 20 







 
to the fullest extent it may legally and effectively do so, any objection which it may now or hereafter have to the laying of venue of any suit, action or proceeding arising out of or relating to
this Agreement or any related matter in any Delaware state or Federal court located in the State of Delaware and the defense of an inconvenient forum to the maintenance of such claim in any such court. 

Section 3.18 WAIVER OF JURY TRIAL. THE EXTENT NOT PROHIBITED BY APPLICABLE LAW THAT CANNOT BE WAIVED, EACH PARTY HEREBY
IRREVOCABLY WAIVES AND COVENANTS THAT IT WILL NOT ASSERT (WHETHER AS PLAINTIFF, DEFENDANT OR OTHERWISE) ANY RIGHT TO TRIAL BY JURY IN ANY FORUM IN RESPECT OF ANY ISSUE, CLAIM, DEMAND, ACTION OR CAUSE OF ACTION ARISING IN WHOLE OR IN PART UNDER,
RELATED TO, BASED ON, OR IN CONNECTION WITH, THIS AGREEMENT OR THE SUBJECT MATTER HEREOF, WHETHER NOW EXISTING OR HEREAFTER ARISING AND WHETHER SOUNDING IN TORT OR CONTRACT OR OTHERWISE. ANY PARTY MAY FILE AN ORIGINAL COUNTERPART OR A COPY OF THIS
SECTION 3.18 WITH ANY COURT AS WRITTEN EVIDENCE OF THE CONSENT OF EACH SUCH PARTY TO THE WAIVER OF ITS RIGHT TO TRIAL BY JURY 

[Signature pages to follow] 

  
 21 







 IN WITNESS WHEREOF, the parties hereto execute this Agreement, effective as of the date first
above written. 
  

					
	CNX COAL RESOURCES LP
		
	By:	 	 CNX COAL RESOURCES GP LLC
 (its
General Partner)

		
	By:	 	 /s/ Lorraine L. Ritter

		 	Name:	 	Lorraine L. Ritter
		 	Title:	 	 Chief Financial Officer and
 Chief Accounting
Officer



 Signature Page to Registration Rights Agreement 






 
					
	CONSOL ENERGY INC.
		
	By:	 	 /s/ Stephen W. Johnson

		 	Name:	 	Stephen W. Johnson
		 	Title:	 	 Executive Vice President –
 Diversified
Business Units



 Signature Page to Registration Rights Agreement