Form of cash incentive award based on earnings before taxes



 Exhibit 10.4 
  
 MASSEY ENERGY COMPANY 
  
 Incentive Award Agreement 
  
 THIS AGREEMENT dated as of the 14th day of November, 2005, between MASSEY ENERGY COMPANY, a Delaware Corporation (the “Company”) and
                             (“Participant”) is made pursuant and subject to the provisions
of the Massey Energy Company 1999 Executive Performance Incentive Plan, as amended and restated effective November 30, 2000 (the “Plan”), a copy of which is attached. All terms used herein that are defined in the Plan have the same
meaning given them in the Plan. 
  
 1. Incentive
Award. Pursuant to the Plan, the Company, on November 14, 2005 awarded to you, subject to the terms and conditions of the Plan and subject further to the terms and conditions herein set forth, the opportunity to earn a bonus based on
the satisfaction of the performance criteria set forth in Paragraph 3 below (“Incentive Award”). 
  
 2. Definitions. 
  
 (a) Earnout Period means the period from January 1, 2006 through December 31, 2008 (“Earnout Period”).

  
 (b) Massey 2006-2008 EBT means the
Company’s cumulative earnings before taxes, for the three fiscal years of the Company ending December 31, 2006, December 31, 2007, and December 31, 2008, all as confirmed by the Company’s Chief Financial Officer and the
Chairman of the Compensation Committee (“Committee”); provided, however, that extraordinary, unusual or infrequently occurring events and transactions, may, in the sole discretion of the Committee, be excluded pursuant to the Plan in such
determination. 
  
 3. Amount of Award. Subject to
Paragraph 5 and except as provided in Paragraphs 4 and 6 below, your Incentive Award will be calculated under the amount and formula shown in column (b) below, based on satisfaction of the criteria set forth in column (a) below:

  

					
	 	  	 (a)
 Massey
 2006-2008 EBT

	  	 (b)
 Your Incentive
 Award


	 High Target
	  	 	  	 
	 Middle Target
	  	 	  	 
	 Low Target
	  	 	  	 

  
 If the Massey
2006-2008 EBT falls between any target amounts, the amount of your Incentive Award is calculated proportionately between the two nearest target levels. No Incentive Award will be paid if Massey 2006-2008 EBT is less than the low target of
$             and no increase in the Incentive Award will be made for Massey 2006-2008 EBT above $            .

  

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 Your Incentive Award for the Earnout Period, to the extent earned, will be paid on or about
March 31, 2009. 
  
 4. Death or Disability. If
you die or become permanently and totally disabled within the meaning of Section 22(e)(3) of the Internal Revenue Code of 1986, as amended (the “Code”) (“Permanently and Totally Disabled”) while in the employ of the Company
or an Affiliate within the Earnout Period, you or your estate will be entitled to receive a pro rata portion of your Incentive Award, based on the portion of the Earnout Period elapsed prior to your death or becoming Permanently and Totally
Disabled. 
  
 5. Forfeiture. Your right to receive
an Incentive Award is forfeited if your employment with the Company and its Affiliates terminates during the Earnout Period for any reason other than on account of your death or becoming Permanently and Totally Disabled or as set forth in Paragraph
6 below. 
  
 6. Change in Control. Notwithstanding
any other provision of this Agreement, your right to receive an Incentive Award shall be earned if your employment terminates within two years following a Change in Control that occurs during the Earnout Period. 
  
 7. Notice. Any notice or other communications given pursuant to
this Agreement shall be in writing and shall be personally delivered or mailed by United States registered or certified mail, postage prepaid, return receipt requested, to the following addresses: 
  

			
	 If to the Company:
	    	 
		
	 By hand-delivery:
	    	By mail:
	 Massey Energy Company
	    	Massey Energy Company
	 Attention: General Counsel
	    	Attention: General Counsel
	 4 North Fourth Street
	    	P.O. Box 26765
	 Richmond, Virginia 23219
	    	Richmond, Virginia 23261
		
	 If to the Participant:
	    	 

  
 8.
Confidentiality. Participant agrees that this Agreement and the receipt of this Incentive Award are conditioned upon the Participant not disclosing the terms of this Agreement or the receipt of the Incentive Award to anyone other than
Participant’s spouse, confidential financial advisor, or senior management of the Company prior to end of the Earnout Period. If Participant discloses such information to any person other than those named in the prior sentence, Participant
agrees that this Incentive Award will be forfeited. 
  

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 9. No Right to Continued Employment. This Agreement does not confer upon the Participant
any right to continue in the employ of the Company or an Affiliate, nor shall it interfere in any way with the right of the Company or an Affiliate to terminate such employment at any time. 
  
 10. Governing Law. This Agreement shall be governed by the laws
of the State of Delaware. 
  
 11. Conflicts. In the
event of any conflict between the provisions of the Plan as in effect on the date hereof and the provisions of this Agreement, the provisions of the Plan shall govern. All references herein to the Plan shall mean the Plan as in effect on the date
hereof. 
  
 12. Participant Bound by Plan.
Participant hereby acknowledges receipt of a copy of the Plan and agrees to be bound by all the terms and provisions thereof. 
  
 13. Binding Effect. Subject to the limitations stated above and in the Plan, this Agreement shall be binding upon and inure to the benefit
of the legatees, distributees, and personal representatives of Participant and the successors of the Company. 
  
 IN WITNESS WHEREOF, the Company has caused this Agreement to be signed by a duly authorized officer, and Participant has affixed his signature hereto.

  

			
	MASSEY ENERGY COMPANY
		
	By:	 	  


	 	 	Executive Vice President and Chief
	 	 	Administrative Officer
	
	  


	Participant


  

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