Document:

Exhibit 10.7

 Exhibit 10.7 
 FORM OF 
 SEVERANCE PROTECTION AGREEMENT 
 SEVERANCE PROTECTION AGREEMENT dated                 
    , 2006, by and between ICF International, Inc., a Delaware corporation (the “Company”), and
                     (the “Executive”). 
 PURPOSE 
 The Board of Directors of the Company (the “Board”) recognizes that the
possibility of a Change in Control (as hereinafter defined) of the Company exists and that the threat or occurrence of a Change in Control may result in the distraction of its key management personnel because of the uncertainties inherent in such a
situation. 
 The Board has determined that it is essential and in the best interests of the Company and its stockholders to retain the
services of the Executive in the event of the threat or occurrence of a Change in Control and to ensure the Executive’s continued dedication and efforts in such event without undue concern for the Executive’s personal financial and
employment security. 
 In order to induce the Executive to remain in the employ of the Company, particularly in the event of the threat or
occurrence of a Change in Control, the Company desires to enter into this Agreement to provide the Executive with certain benefits in the event the Executive’s employment is terminated as a result of, or in connection with, a Change in Control.

 NOW, THEREFORE, in consideration of the respective agreements of the parties contained herein, it is agreed as follows: 
 SECTION 1. Definitions. 
 For purposes of this
Agreement, the following terms have the meanings set forth below: 
 “Accrued Compensation” means an amount which includes
all amounts earned or accrued by the Executive through and including the Termination Date but not paid to the Executive on or prior to such date, including (a) all base salary, (b) reimbursement for all reasonable expenses incurred by the
Executive on behalf of the Company during the period ending on the Termination Date, (c) all vacation pay and (d) all bonuses and incentive compensation (other than the Pro Rata Bonus). 
 “Base Amount” means the Executive’s average annual taxable W-2 compensation during the three years (or such lesser period as the
Executive has been employed by the Company) prior to the year in which the Termination Date occurs and includes all amounts of the Executive’s base salary that are deferred under any qualified or non-qualified employee benefit plan of the
Company or any other agreement or arrangement. 

 “Beneficial Owner” has the meaning as used in Rule 13d-3 promulgated under the
Securities Exchange Act. The terms “Beneficially Owned” and “Beneficial Ownership” each have a correlative meaning. 
 “Board” means the Board of Directors of the Company. 
 “Bonus Amount” means the annual bonus, if
any, paid or payable to the Executive pursuant to any annual bonus or incentive plan maintained by the Company in respect of the fiscal year ending immediately prior to the fiscal year in which the Termination Date occurs. Bonus Amount includes only
the short-term incentive portion of the annual bonus and does not include restricted stock awards, options or other long-term incentive compensation awarded to Executive. 
  “Cause” for the termination of the Executive’s employment with the Company shall mean any of the following: (a) any act that
would constitute a material violation of the Company’s material written policies; (b) willfully engaging in conduct materially and demonstrably injurious to the Company, provided, however, that no act or failure to act, on
the Executive’s part, shall be considered “willful” unless done, or omitted to be done, by the Executive not in good faith and without reasonable belief that [his/her] action or omission was in the best interest of the Company;
(c) being indicted for, or if charged with but not indicted for, being tried for (i) a crime of embezzlement or a crime involving moral turpitude or (ii) a crime with respect to the Company involving a breach of trust or dishonesty or
(iii) in either case, a plea of guilty or no contest to such a crime; or (d) abuse of alcohol in the workplace, use of any illegal drug in the workplace or a presence under the influence of alcohol or illegal drugs in the workplace.

  “Change of Control” of the Company means, and shall be deemed to have occurred upon, any of the following events:

 (a)    The acquisition by any person (as defined in Section 3(a)(9) of the Exchange Act and used in Sections
13(d) and 14(d) thereof, including a group as defined in Section 13(d) thereof) of beneficial ownership (as defined in Rule 13d-3 of the General Rules and Regulations under the Exchange Act) of thirty-five percent (35%) or more of the
outstanding voting securities; provided, however, that the following acquisitions shall not constitute a Change in Control for purposes of this subparagraph (a): (A) any acquisition directly from the Company; (B) any
acquisition by the Company or any of its Subsidiaries; (C) any acquisition by any employee benefit plan (or related trust) sponsored or maintained by the Company or any of its Subsidiaries; or (D) any acquisition by any corporation
pursuant to a transaction which complies with clauses (i), (ii) and (iii) of subparagraph (c) below; or 
  (b)    Individuals who, as of August 31, 2006, constitute the Board (the “Incumbent Board”) cease for any reason to constitute at least a majority of the Board; provided, however, that any
individual who becomes a director of the Company subsequent to August 31, 2006 and whose election, or whose nomination for election by the Company’s stockholders, to the Board was either (i) approved by a vote of at least a majority of the
directors then comprising the Incumbent Board or (ii) recommended by a nominating committee comprised entirely of directors who are then Incumbent Board members shall be considered as though such individuals were a member of the Incumbent
Board, but excluding, for this purpose, any such individual 

   

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whose initial assumption of office occurs as a result of either an actual or threatened election contest (as such terms are used in Rule 14a-11 of Regulation
14A promulgated under the Exchange Act), other actual or threatened solicitation of proxies or consents or an actual or threatened tender offer; or 
 (c)    Consummation of a reorganization, merger, or consolidation or sale or other disposition of all or substantially all of the assets of the Company (a “Business Combination”), in each case unless
following such Business Combination, (i) all or substantially all of the persons who were the Beneficial Owners, respectively, of the outstanding shares and outstanding voting securities immediately prior to such Business Combination own,
directly or indirectly, more than fifty percent (50%) of the combined voting power of the then outstanding voting securities entitled to vote generally in the election of directors of the Company, as the case may be, of the entity resulting
from the Business Combination (including, without limitation, an entity which as a result of such transaction owns the Company or all or substantially all of the Company’s assets either directly or through one or more subsidiaries) in
substantially the same proportions as their ownership, immediately prior to such Business Combination, of the outstanding voting securities (provided, however, that for purposes of this clause (i) any shares of common stock or
voting securities of such resulting entity received by such Beneficial Owners in such Business Combination other than as the result of such Beneficial Owners’ ownership of outstanding shares or outstanding voting securities immediately prior to
such Business Combination shall not be considered to be owned by such Beneficial Owners for the purposes of calculating their percentage of ownership of the outstanding common stock and voting power of the resulting entity); (ii) no person
(excluding any entity resulting from such Business Combination or any employee benefit plan (or related trust) of the Company or such entity resulting from the Business Combination) beneficially owns, directly or indirectly, thirty-five percent
(35%) or more of the combined voting power of the then outstanding voting securities of such entity resulting from the Business Combination unless such person owned thirty-five percent (35%) or more of the outstanding shares or outstanding
voting securities immediately prior to the Business Combination; and (iii) at least a majority of the members of the Board of the entity resulting from such Business Combination were members of the Incumbent Board at the time of the execution
of the initial agreement, or the action of the Board, providing for such Business Combination; or 
 (d)    Approval by
the Company’s stockholders of a complete liquidation or dissolution of the Company. 
 For purposes of clause (c), any person who acquires outstanding
voting securities of the entity resulting from the Business Combination by virtue of ownership, prior to such Business Combination, of outstanding voting securities of both the Company and the entity or entities with which the Company is combined
shall be treated as two persons after the Business Combination, who shall be treated as owning outstanding voting securities of the entity resulting from the Business Combination by virtue of ownership, prior to such Business Combination of,
respectively, outstanding voting securities of the Company, and of the entity or entities with which the Company is combined. 
 “Code” means the Internal Revenue Code of 1986, as amended. 
  

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 “Company” means ICF International, Inc., a Delaware corporation, and includes its
Successors. 
 “Continuation Period” has the meaning set forth in Section 3.1(b)(iii). 
  “Disability” as used herein shall take its meaning from the definition set forth in any group long-term disability insurance contract
maintained by the Company under which the Executive is covered, or, if the Company shall not maintain such insurance, “Disability” shall mean that the Executive is incapacitated by reason of a physical or mental illness which is
long-term in nature and which prevents the Executive from performing the substantial and material duties of his employment with the Company, provided that such incapacity can reasonably be expected to prevent the Executive from working at
least six consecutive months in any twelve month period. The Company may require the Executive to have an examination at any time for the purpose of determining whether the Executive has a long-term disability as described in the preceding sentence,
and the Executive agrees to submit to such examination upon request of the Board of Directors, provided that the Company shall pay all costs and expenses associated with such examination. 
  “Full Release” means a written release, timely executed so that it is fully effective as of the date of payment pursuant to
Section 3(b)(ii), in a form satisfactory to the Company (and similar to the Agreement set forth in Exhibit A), pursuant to which the Executive fully and completely releases the Company from all claims that the Executive may have against
the Company (other than any claims that may arise or have arisen under this Agreement). 
 “Good Reason” means the
occurrence after a Change in Control of any of the events or conditions described in clauses (a) through (f) hereof, without the Executive’s prior written consent: 
  (a)    any (i) material adverse change in the Executive’s status, title, position or responsibilities (including reporting
responsibilities) from the Executive’s status, title, position or responsibilities as in effect at any time within 180 days preceding the date of the Change in Control or at any time thereafter, (ii) assignment to the Executive of duties
or responsibilities which are inconsistent with the Executive’s status, title, position or responsibilities as in effect at any time within 180 days preceding the date of the Change in Control or at any time thereafter, or (iii) in the
case of an Executive who is an executive officer of the Company a significant portion of whose responsibilities relate to the Company’s status as a public company, the failure of such Executive to continue to serve as an executive officer of a
public company, in each case except in connection with the termination of the Executive’s employment due to Disability, Cause, as a result of the Executive’s death or by the Executive other than for Good Reason; 
  (b)    a reduction in Executive’s base salary or any failure to pay the Executive any cash compensation to which the Executive
is entitled within fifteen (15) days after the date when due; 
 (c)    the imposition of a requirement that the
Executive be based (i) at any place outside a 50-mile radius from the Executive’s principal place of employment immediately prior to the Change in Control or (ii) at any location other than the Company’s corporate headquarters

  

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or, if applicable, the headquarters of the business unit by which [he/she] was employed immediately prior to the Change in Control, except, in each case, for
reasonably required travel on Company business which is not materially greater in frequency or duration than prior to the Change in Control; 
 (d)    the insolvency or the filing (by any party, including the Company) of a petition for bankruptcy with respect to the Company, which petition is not dismissed within 60 days; 
 (e)    any material breach by the Company of any provision of this Agreement; or 
 (f)    the failure of the Company to obtain, as contemplated in Section 7, an agreement, reasonably satisfactory to the
Executive, from any Successor to assume and agree to perform this Agreement. 
 Notwithstanding anything to the contrary in this Agreement, no termination
will be deemed to be for Good Reason hereunder if it results from an isolated, insubstantial and inadvertent action not taken by the Company in bad faith and which is remedied by the Company promptly after receipt of notice thereof given by the
Executive. 
 “Notice of Termination” means a written notice from the Company or the Executive of the termination of the
Executive’s employment which indicates the specific termination provision in this Agreement relied upon and which sets forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of the Executive’s
employment under the provision so indicated. 
 “Person” has the meaning as used in Section 13(d) or 14(d) of the
Securities Exchange Act, and will include any “group” as such term is used in such sections. 
 “Pro Rata Bonus”
means an amount equal to the Bonus Amount multiplied by a fraction, the numerator of which is the number of days elapsed in the then fiscal year through and including the Termination Date and the denominator of which is 365; provided that the
provisions of this Agreement providing for the payment of a Pro Rata Bonus amount shall not be interpreted to call for the payment of amounts duplicative of amounts paid as part of the Base Amount. 
 “Securities Exchange Act” means the Securities Exchange Act of 1934, as amended. 
 “Subsidiary” means any corporation or entity with respect to which another specified corporation or entity has the power under ordinary
circumstances to vote or direct the voting of sufficient securities to elect a majority of the directors or other managers. 
 “Successor” means a corporation or other entity acquiring all or substantially all the assets and business of the Company, whether by operation of law, by assignment or otherwise. 
 “Termination Date” means (a) in the case of the Executive’s death, the Executive’s date of death, (b) in the case of
the termination of the Executive’s employment with the Company by the Executive for Good Reason, five days after the date the Notice of Termination is received by 

  

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the Company, and (c) in all other cases, the date specified in the Notice of Termination; provided that if the Executive’s employment is
terminated by the Company for Cause or due to Disability, the date specified in the Notice of Termination will be at least 30 days after the date the Notice of Termination is given to the Executive. 
 SECTION 2. Term of Agreement. 
 The term of this
Agreement (the “Term”) will commence on the date hereof and will continue in effect until December 31, 2008; provided that on December 31, 2008 and each anniversary of such date thereafter, the Term shall
automatically be extended for one additional year unless, not later than October 1 of such year, the Company or the Executive shall have given notice not to extend the Term; and further provided that, in the event a Change in Control
occurs during the Term, the Term will be extended to the date 24 months after the date of the occurrence of such Change in Control. 
 SECTION 3.
Termination of Employment. 
 3.1    If, during the Term, the Executive’s employment with the Company is
terminated within 24 months following a Change in Control, the Executive will be entitled to the following compensation and benefits: 
  (a)    If the Executive’s employment with the Company is terminated (i) by the Company for Cause or due to Disability, (ii) by reason of the Executive’s death or (iii) by the Executive other than
for Good Reason, the Company will pay to the Executive or [his/her] designated beneficiary, as the case may be, [his/her] Accrued Compensation and, if such termination is other than by the Company for Cause, a Pro Rata Bonus. 
  (b)    If the Executive’s employment with the Company is terminated for any reason other than as specified in
Section 3.1(a), the Executive will be entitled to the following: 
   (i)       the Company
will pay the Executive all Accrued Compensation and a Pro Rata Bonus; 
    (ii)      subject to
the Executive providing the Company with a Full Release, the Company will pay the Executive as severance pay, and in lieu of any further compensation for periods subsequent to the Termination Date, in a single payment an amount in cash equal to
three (3) times the Base Amount; provided, however, that if at the time of the Executive’s termination of employment, (i) the Executive is a specified employee within the meaning of Section 409A(a)(2)(B)(i) of the
Code, (ii) the amount of the Executive’s severance pay exceeds the amount specified in Proposed Treasury Regulation Section 1.409A-1(b)(9)(iii)(A) or any successor regulation thereto, or (iii) Section 409A is otherwise
applicable to the Executive’s severance pay, then, and only in such event, such severance pay shall be paid in a single payment on the date that is six (6) months after the date of such termination; 
   (iii)    subject to the Executive providing the Company with a Full Release and complying with [his/her] obligations
under Section 6, the Company will, for a period of 36 months (the “Continuation Period”), at its expense provide to the Executive, the Executive’s dependents (as defined in the Company’s insurance contracts then in
effect under which similarly situated executives are covered) and beneficiaries the same or equivalent life insurance, medical, dental, hospitalization, financial counseling and tax consulting benefits (the “Continuation Period
Benefits”) provided to other similarly situated executives who continue in the employ of the Company during the Continuation Period (“similarly situated executives”) and their dependents and beneficiaries. The obligations
of the Company to provide the Executive and the Executive’s dependents and beneficiaries with the Continuation Period Benefits shall not restrict or limit the Company’s right to terminate, amend or modify the benefits made available by the
Company to its similarly situated executives or other employees, and following any such termination, amendment or modification, the Continuation  

   

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  Period Benefits that Executive (and the Executive’s dependents and beneficiaries) shall be
entitled to receive shall be so terminated, amended or modified. The Company’s obligations hereunder with respect to the foregoing benefits will be limited to the extent that the Executive obtains any such benefits pursuant to a subsequent
employer’s benefit plans, in which case the Company may reduce the coverage of any benefits it is required to provide the Executive hereunder as long as the coverages and benefits of the combined benefit plans are no less favorable to the
Executive than the coverages and benefits required to be provided hereunder. This Section 3.1(b) will not be interpreted so as to negate any benefits to which the Executive or the Executive’s dependents or beneficiaries may be entitled
under any of the Company’s employee benefit plans, programs or practices following the Executive’s termination of employment;  
  (iv)    the Company shall provide the Executive with outplacement services suitable to the Executive’s position for a period of 12 months or, if earlier, until the first acceptance by the
Executive of an offer of employment; and 
 (v)    such other acceleration of vesting and other benefits provided in
other Company plans or agreements regarding options to purchase Company stock, restricted stock, deferral of stock or other equity compensation awards granted to or otherwise applicable to Executive. 
  (c)    The amounts provided for in Section 3.1(a) and Section 3.1(b)(i) will be paid in a single lump sum cash payment by
the Company to the Executive within five business days after the Termination Date provided, however, that no payment be made prior to the time permitted by Section 409A of the Code. 
  (d)    The Executive will not be required to mitigate the amount of any payment provided for in this Agreement by seeking other
employment or otherwise, and no such payment will be offset or reduced by the amount of any compensation or benefits provided to the Executive in any subsequent employment, except as specifically provided in Section 3.1(b)(iii) and 3.1(b)(iv).

 3.2    Except as otherwise provided herein, the compensation to be paid to the Executive pursuant to Sections 3.1(a),
3.1(b)(i) and 3.1(b)(ii) of this Agreement will be in lieu of any similar severance or termination compensation (i.e., compensation based directly on the Executive’s annual salary or annual salary and bonus) to which the Executive may be
entitled under any other Company severance or termination agreement, plan, program, policy, practice or arrangement. With respect to any other compensation and benefit to be paid or provided to the Executive pursuant to this Section 3, the
Executive will have the right to receive such compensation or benefit as herein provided or, if determined by the Executive to be more advantageous to the Executive, similar compensation or benefits to which the Executive may be entitled under any
other Company severance or termination agreement, plan, program, policy, practice or arrangement. The Executive’s entitlement to any compensation or benefits of a type 

  

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not provided in this Agreement will be determined in accordance with the Company’s employee benefit plans and other applicable programs, policies and
practices as in effect from time to time. 
 SECTION 4. Notice of Termination. 
 Following a Change in Control, any purported termination of the Executive’s employment by the Company will be communicated by a Notice of
Termination to the Executive. For purposes of this Agreement, no such purported termination will be effective without such Notice of Termination. 
 SECTION 5. Excise Tax Adjustments. 
 5.1    In the event Executive becomes entitled to Severance
Benefits under Section 3(b) herein, and the Company determines that the benefits provided in Section 3(b) (with the Severance Benefits, the “Total Payments”) will be subject to the tax (the “Excise Tax”)
imposed by Section 4999 of the Code, or any similar tax that may hereafter be imposed, the Company shall compute the “Net After-Tax Amount,” and the “Reduced Amount,” and shall adjust the Total Payments as
described below. The Net After-Tax Amount shall mean the present value of all amounts payable to the Executive hereunder, net of all federal income, excise and employment taxes imposed on the Executive by reason of such payments. The Reduced Amount
shall mean the largest aggregate amount of the Total Payments that, if paid to the Executive, would result in the Executive receiving a Net After-Tax Amount that is equal to or greater than the Net After-Tax Amount that the Executive would have
received if the Total Payments had been made. If the Company determines that there is a Reduced Amount, the Total Payments will be reduced to the Reduced Amount. Such reduction shall be made by the Company with respect to benefits in the order and
in the amounts suggested by the Executive, except to the extent that the Company determines that a different reduction or set of reductions would significantly reduce the costs or administrative burdens of the Company. 
 5.2    For purposes of determining whether the Total Payments will be subject to the Excise Tax and the amounts of such Excise Tax
and for purposes of determining the Reduced Amount and the Net After-Tax Amount: 
 (a)    Any other payments or benefits
received or to be received by the Executive in connection with a Change in Control of the Company or the Executive’s termination of employment (whether pursuant to the terms of this Agreement or any other plan, arrangement, or agreement with
the Company, or with any individual, entity, or group of individuals or entities (individually and collectively referred to in this subsection (b) as “Persons”) whose actions result in a Change in Control of the Company or any Person
affiliated with the Company or such Persons) shall be treated as “parachute payments” within the meaning of Section 280G(b)(2) of the Code, and all “excess parachute payments” within the meaning of Section 280G(b)(1) of
the Code shall be treated as subject to the Excise Tax, unless, in the opinion of a tax advisor selected by the Company and reasonably acceptable to the Executive (“Tax Counsel”), such other payments or benefits (in whole or in
part) should be treated by the courts as representing reasonable compensation for services actually rendered (within the meaning of Section 280G(b)(4)(B) of the Code), or otherwise not subject to the Excise Tax; 
  

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 (b)    The amount of the Total Payments that shall be treated as subject to the
Excise Tax shall be equal to the lesser of (i) the total amount of the Total Payments or (ii) the amount of excess parachute payments within the meaning of Section 280G(b)(1) of the Code (after applying clause (a) above);

 (c)    In the event that the Executive disputes any calculation or determination made by the Company, the matter shall
be determined by Tax Counsel. All fees and expenses of Tax Counsel shall be borne solely by the Company; and 
 (d)    The Executive shall be deemed to pay federal income taxes at the highest marginal rate of federal income taxation in the calendar year in which the Gross-Up Payment is to be made, and state and local income taxes
at the highest marginal rate of taxation in the state and locality of the Executive’s residence on the effective date of employment, net of the maximum reduction in federal income taxes which could be obtained from deduction of such state and
local taxes, taking into account the reduction in itemized deduction under Section 68 of the Code. 
 SECTION 6.
Covenants of the Executive. 
 During the Continuation Period following any Change in Control pursuant to which the Executive receives
the severance payment pursuant to Section 3.1(b)(ii), the Executive Covenants and agrees as follows: 
  (a)    the Executive agrees to comply with [his/her] obligations under the previously signed [Invention and Confidentiality Agreement Code of Ethics and Nonsolicitation Agreements] that [he/she] entered
into with the Company; and 
  (b)    the Executive acknowledges that the Executive has knowledge of confidential and
proprietary information concerning the current salary, benefits, skills, and capabilities of Company employees and that it would be improper for the Executive to use such Company proprietary information in any manner adverse to the Company’s
interests. The Executive agrees that [he/she] will not recruit or solicit for employment, directly or indirectly, any employee of the Company during the Continuation Period. 
 SECTION 7. Successors; Binding Agreement. 
 This Agreement will be binding upon and will inure to the
benefit of the Company and its Successors, and the Company will require any Successors to expressly assume and agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform it if no such
succession or assignment had taken place. Neither this Agreement nor any right or interest hereunder will be assignable or transferable by the Executive or by the Executive’s beneficiaries or legal representatives, except by will or by the laws
of descent and distribution. This Agreement will inure to the benefit of and be enforceable by the Executive’s legal representatives. 
  

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 SECTION 8. Fees and Expenses. 
 The Company will pay as they become due all legal fees and related expenses (including the costs of experts) incurred by the Executive, in good faith, in (a) contesting or disputing, any termination of employment
and (b) seeking to obtain or enforce any right or benefit provided by this Agreement or by any other plan or arrangement maintained by the Company under which the Executive is or may be entitled to receive benefits. If the dispute is resolved
by a final decision of an arbitrator pursuant to Section 15 in the favor of the Company, the Executive shall reimburse the Company for all such legal fees and related expenses (including costs of experts) paid by the Company on behalf of the
Executive. 
 SECTION 9. Notice. 
 For
the purposes of this Agreement, notices and all other communications provided for in this Agreement (including the Notice of Termination) will be in writing and will be deemed to have been duly given when personally delivered or sent by certified
mail, return receipt requested, postage prepaid, addressed to the respective addresses last given by each party to the other, provided that all notices to the Company will be directed to the attention of the Board with a copy to the Secretary
of the Company. All notices and communications will be deemed to have been received on the date of delivery thereof or on the third business day after the mailing thereof, except that notice of change of address will be effective only upon receipt.

 SECTION 10. Dispute Concerning Termination. 
 If prior to the Date of Termination (as determined without regard to this Section 10) the party receiving the Notice of Termination notifies the other party that a dispute exists concerning the termination, the Date of Termination
shall be extended until the earlier of (a) the date on which the Term ends or (b) the date on which the dispute is finally resolved, either by mutual written agreement of the parties or by a final judgment, order or decree of an arbitrator
or a court of competent jurisdiction (which is not appealable or with respect to which the time for appeal therefrom has expired and no appeal has been perfected); provided, however, that the Date of Termination shall be extended by a
notice of dispute given by the Executive only if such notice is given in good faith and the Executive pursues the resolution of such dispute with reasonable diligence. 
 SECTION 11. Compensation During Dispute. 
 If a purported termination occurs following a Change in
Control and during the Term and the Date of Termination is extended in accordance with Section 10 hereof, the Company shall continue to pay the Executive the full compensation in effect when the notice giving rise to the dispute was given
(including, but not limited to, salary) and continue the Executive as a participant in all compensation, benefit and insurance plans in which the Executive was participating when the Notice of Termination was given, until the Date of Termination, as
determined in accordance with Section 10 hereof. Amounts paid under this Section 11 are in addition to all other amounts due under this Agreement and shall not be offset against or reduce any other amounts due under this Agreement or
otherwise. 
  

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 SECTION 12. Nonexclusivity of Rights. 
 Nothing in this Agreement will prevent or limit the Executive’s continuing or future participation in any benefit, bonus, incentive or other plan or
program provided by the Company for which the Executive may qualify, nor will anything herein limit or reduce such rights as the Executive may have under any other agreements with the Company (except for any severance or termination agreement).
Amounts which are vested benefits or which the Executive is otherwise entitled to receive under any plan or program of the Company will be payable in accordance with such plan or program, except as specifically modified by this Agreement.

 SECTION 13. No Set-Off. 
 The
Company’s obligation to make the payments provided for in this Agreement and otherwise to perform its obligations hereunder will not be affected by any circumstances, including any right of set-off, counterclaim, recoupment, defense or other
right which the Company may have against the Executive or others. 
 SECTION 14. Miscellaneous. 
 No provision of this Agreement may be modified, waived or discharged unless such waiver, modification or discharge is agreed to in writing and signed by
the Executive and the Company. No waiver by either party hereto at any time of any breach by the other party hereto of, 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 agreement or representation, oral or otherwise, expressed or implied, with respect to the subject matter hereof has been made by either party which is
not expressly set forth in this Agreement. 
 SECTION 15. Governing Law and Binding Arbitration. 
 This Agreement will be governed by and construed and enforced in accordance with the laws of the State of Delaware without giving effect to the conflict
of laws principles thereof. Any controversy, claim or other dispute arising out of or relating to this Agreement, or the breach thereof, shall be resolved exclusively by binding arbitration administered by the American Arbitration Association under
its Commercial Arbitration rules. To the maximum extent possible all aspects of the arbitration shall be confidential, except the judgment, if and when it is filed with a court. The place of arbitration shall be Fairfax County, Virginia, and
judgment on the award rendered by the arbitrator(s) may be entered in any court having jurisdiction thereof. If there is any arbitration or litigation between the parties arising out of or related to this Agreement, the prevailing party will be
entitled to recover, in addition to the relief awarded, all reasonable costs and expenses (including, without limitation, reasonable attorneys’, accountants’ and other professionals’ fees and expenses) whether, in arbitration, at
trial, on appeal or in bankruptcy. In determining the costs and expenses to be awarded the prevailing party, the arbitrator or the court is not bound by the Virginia rules and case law regarding reimbursable costs, but should instead venture to make
the prevailing party whole by awarding all reasonable costs incurred in connection with the litigation. 
  

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 SECTION 16. Severability. 
 The provisions of this Agreement will be deemed severable and the invalidity or unenforceability of any provision will not affect the validity or enforceability of the other provisions hereof. 
  

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 SECTION 17. Entire Agreement. 
 This Agreement constitutes the entire agreement between the parties hereto and supersedes all prior agreements, if any, understandings and arrangements, oral or written, between the parties hereto with respect to
severance protection following a Change in Control. 
 IN WITNESS WHEREOF, the parties have executed and delivered this Agreement as of the
date first above written. 
  

			
	 ICF INTERNATIONAL, INC.

		
	 By:
	 	  

	 Name:
	 	  

	 Title:
	 	  

	
	  
 Executive

  

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 Exhibit A 
 to 
 Severance Protection Agreement 
 RELEASE OF ALL CLAIMS AND POTENTIAL CLAIMS 
 1.        This Release of All Claims and Potential Claims (“Release”) is entered into by and between
                                        
     (“Executive”) and ICF International, Inc. (hereinafter “ICF”). Executive and ICF have previously entered into a Severance Protection Agreement dated
                 (“Severance Agreement”). In consideration of the promises made herein and the consideration due Executive under the Severance
Agreement, this Release is entered into between the parties. 
 2.         The purposes of this
Release are to settle completely and release ICF, its individual and/or collective officers, directors, stockholders, agents, parent companies, subsidiaries, affiliates, predecessors, successors, assigns, employees (including all former employees,
officers, directors, stockholders and/or agents), attorneys, representatives and employee benefit programs (including the trustees, administrators, fiduciaries and insurers of such programs) (referred to collectively as “Releasees”)
in a final and binding manner from every claim and potential claim for relief, cause of action and liability of any and every kind, nature and character whatsoever, known or unknown, that Executive has or may have against Releasees arising out of,
relating to or resulting from any events occurring prior to the execution of this Release, including but not limited to any claims and potential claims for relief, causes of action and liabilities arising out of, relating to or resulting from the
employment relationship between Executive and ICF and/or the termination of that relationship including any and all claims and rights under the Age Discrimination in Employment Act, and any personal gain with respect to any claim arising under the
qui tam provisions of the False Claims Act, 31 U.S.C. 3730, but excluding any rights or benefits to which Executive is entitled under the Severance Agreement. 
 3.         This Release is: 
 (a)        A compromise settlement of all such claims and potential claims, known or unknown, and therefore this Release does not constitute either an admission of liability on
the part of Executive and ICF or an admission, directly or by implication, that Executive and/or ICF have violated any law, rule, regulation, contractual right or any other duty or obligation. The parties hereto specifically deny that they have
violated any law, rule, regulation, contractual right or any other duty or obligation. 
 (b)        Entered into freely and voluntarily by Executive and ICF solely to avoid further costs, risks and hazards of litigation and to settle all claims and potential claims and disputes, known or
unknown, in a final and binding manner. 
 4.          For and in consideration of the
promises and covenants made by Executive to ICF and ICF to Executive contained herein, Executive and ICF have agreed and do agree as follows: 
  

 14 

 (a)        Executive waives, releases and forever discharges
Releasees from any claims and potential claims for relief, causes of action and liabilities, known or unknown, that [he/she] has or may have against Releasees arising out of, relating to or resulting from any events occurring prior to the execution
of this Release, including but not limited to any claims and potential claims for relief, causes of action and liabilities of any and every kind, nature and character whatsoever, known or unknown, arising out of, relating to or resulting from the
employment relationship between Executive and ICF and the termination of that relationship, including any and all claims and rights under the Age Discrimination in Employment Act, and any personal gain with respect to any claim arising under the
qui tam provisions of the False Claims Act, 31 U.S.C. 3730, but excluding any rights or benefits to which Executive is entitled under the Severance Agreement. 
 (b)        Executive agrees that [he/she] will not directly or indirectly institute any legal proceedings against
Releasees before any court, administrative agency, arbitrator or any other tribunal or forum whatsoever by reason of any claims and potential claims for relief, causes of action and liabilities of any and every kind, nature and character whatsoever,
known or unknown, arising out of, relating to or resulting from any events occurring prior to the execution of this Release, including but not limited to any claims and potential claims for relief, causes of action and liabilities arising out of,
relating to or resulting from the employment relationship between Executive and ICF and/or the termination of that relationship including any and all claims and rights under the Age Discrimination in Employment Act. 
 (c)        Executive is presently unaware of any injuries that [he/she] may have suffered as a result of working
at ICF and has no present intention of filing a workers’ compensation claim. Should any such claim arise in the future, Executive waives and releases any right to proceed against ICF for such a claim. Executive also waives any right to bring
any disability claim against ICF or its carrier. 
  5.        As a material part of the
consideration for this Release, Executive and [his/her] agents and attorneys agree to keep completely confidential and not disclose to any person or entity, except immediate family, attorney, accountant, or tax preparers, or in response to a court
order or subpoena, the terms and/or conditions of this Release and/or any understandings, agreements, provisions and/or information contained herein or with regard to the employment relationship between Executive and ICF. Executive understands and
agrees that ICF may be required by law to report all or a portion of the amounts paid to Executive and/or [his/her] attorney in connection with this Release to the taxing authorities. 
 6.        Any dispute, claim or controversy of any kind or nature, including but not limited to the issue of
arbitrability, arising out of or relating to this Release, or the breach thereof, or any disputes which may arise in the future, shall be resolved exclusively by binding arbitration administered by the American Arbitration Association under its
Commercial Arbitration rules. To the maximum extent possible all aspects of the arbitration shall be confidential, except the judgment if and when it is filed with a court. The place of arbitration shall be Fairfax County, Virginia, and judgment on
the award rendered by the arbitrator(s) may be entered in any court having jurisdiction thereof. If there is any arbitration or litigation between the parties arising out of or related to this Release, the prevailing party will be entitled to
recover, in addition to the 

   

 15 

 
relief awarded, all reasonable costs and expenses (including, without limitation, reasonable attorneys’, accountants’ and other professionals’
fees and expenses) whether in arbitration, at trial, on appeal or in bankruptcy. In determining the costs and expenses to be awarded the prevailing party, the arbitrator or the court is not bound by the Virginia rules and case law regarding
reimbursable costs, but should instead venture to make the prevailing party whole by awarding all reasonable costs incurred in connection with the litigation 
 7.        It is further understood and agreed that Executive has not relied upon any advice whatsoever from ICF and/or its attorneys individually and/or collectively as to the
taxability, whether pursuant to Federal, state or local income tax statutes or regulations, or otherwise, of the consideration transferred hereunder and that [he/she] will be solely liable for all of [his/her] tax obligations. Executive understands
and agrees that ICF may be required by law to report all or a portion of the amounts paid to [him/her] and/or [his/her] attorney in connection with this Release to federal and state taxing authorities. Executive waives, releases, forever discharges
and agrees to indemnify, defend and hold ICF harmless with respect to any actual or potential tax obligations imposed by law. 
 8.        It is further understood and agreed that Releasees and/or their attorneys shall not be further liable either jointly and/or severally to Executive and/or [his/her] attorneys individually or
collectively for costs and/or attorneys fees, including any provided for by statute, nor shall Executive and/or [his/her] attorneys be liable either jointly and/or severally to ICF and/or its attorneys individually and/or collectively for costs
and/or attorneys’ fees, including any provided for by statute. 
 9.        Executive
understands and agrees that if the facts with respect to which this Release are based are found hereafter to be other than or different from the facts now believed by [him/her] to be true, [he/she] expressly accepts and assumes the risk of such
possible difference in facts and agrees that this Release shall be and remain effective notwithstanding such difference in facts. 
 10.        Executive understands and agrees that there is a risk that the damage and/or injury suffered by Executive may become more serious than [he/she] now expects or anticipates. Executive
expressly accepts and assumes this risk, and agrees that this Release shall be and remains effective notwithstanding any such misunderstanding as to the seriousness of said injuries or damage. 
  11.        Notwithstanding paragraph 6 of this Release Executive understands and agrees that if [he/she]
hereafter commences any suit arising out of, based upon or relating to any of the claims and potential claims for relief, causes of action and liability of any and every kind, nature and character whatsoever, known or unknown, [he/she] has released
herein, Executive agrees to pay Releasees, and each of them, in addition to any other damages caused to Releasees thereby, all attorneys’ fees incurred by Releasees in defending or otherwise responding to said suit. 
  12.        It is further understood and agreed that this Release shall be binding upon and will inure to the
benefit of Executive’s spouse, heirs, successors, assigns, agents, employees, representatives, executors and administrators and shall be binding upon and will inure to the 

  

 16 

 
benefit of the individual and/or collective successors and assigns of Releasees and their successors, assigns, agents and/or representatives. 
 13.        This Release shall be construed in accordance with and governed for all purposes by the laws of the
State of Delaware. 
 14.        Executive agrees that [he/she] will not seek future employment with,
nor need to be considered for any future openings with ICF, any division thereof, or any subsidiary or related corporation or entity. 
  15.        If any part of this Release is found to be either invalid or unenforceable, the remaining portions of this Release will still be valid. 
 16.        This Release is intended to release and discharge any claims of Executive under the Age Discrimination
and Employment Act. To satisfy the requirements of the Older Workers’ Benefit Protection Act, 29 U.S.C. Section 626(f), the parties agree as follows: 
 A.        Executive acknowledges that [he/she] has read and understands the terms of this Release. 
 B.        Executive acknowledges that [he/she] has been advised in writing to consult with an attorney, if desired, concerning this Release and has received all advice [he/she]
deems necessary concerning this Release. 
 C.        Executive acknowledges that [he/she] has been
given twenty-one (21) days to consider whether or not to enter into this Release, has taken as much of this time as necessary to consider whether to enter into this Release, and has chosen to enter into this Release freely, knowingly and
voluntarily. 
 D.        For a seven day period following the execution of this Release, Executive
may revoke this Release by delivering a written revocation to the President and Secretary of ICF. This Release shall not become effective and enforceable until the revocation period has expired (the “Effective Date”). 

 17.        Executive does not hereby waive rights to indemnification for actions occurring through
[his/her] affiliation with ICF, whether those rights arise from statute, corporate charter documents or any other source. 
 18.        Executive acknowledges that [he/she] has been encouraged to seek the advice of an attorney of [his/her] choice with regard to this Release. Having read the foregoing, having understood and
agreed to the terms of this Release, and having had the opportunity to and having been advised by independent legal counsel, the parties hereby voluntarily affix their signatures. 
  19.        This Release is to be interpreted without regard to the draftsperson. The terms and intent of the
Release shall be interpreted and construed on the express assumption that all parties participated equally in its drafting. 
   

 17 

 20.        This Release constitutes a single integrated contract
expressing the entire agreement of the parties hereto. Except for the Severance Agreement, which defines certain obligations on the part of both parties, and this Release, there are no agreements, written or oral, express or implied, between the
parties hereto, concerning the subject matter herein. 
  

			
	 Dated:
                        , 20    

	
	  
 Executive

	
	 ICF INTERNATIONAL, INC.

		
	 By:
	 	  

	 Name:
	 	  

	 Title:
	 	  

  

 182006 Stock and Incentive Compensation Plan

 Exhibit 10.1 
 MASSEY ENERGY COMPANY 
 2006 STOCK AND INCENTIVE COMPENSATION PLAN 
 (as Amended and Restated Effective August 15, 2006) 

 MASSEY ENERGY COMPANY 
 2006 STOCK AND INCENTIVE COMPENSATION PLAN 
 (as Amended and Restated Effective August 15, 2006) 

 

 ARTICLE I 
 Establishment, Purpose and Duration 
 1.1 Establishment of the Plan. Massey Energy Company
(hereinafter referred to as the “Company”), a Delaware corporation, hereby establishes a stock and incentive compensation plan to be known as the “2006 Stock and Incentive Compensation Plan” (hereinafter referred to as the
“Plan”), as set forth in this document. Unless otherwise defined herein, all capitalized terms shall have the meanings set forth in Section 2.1 herein. The Plan permits, subject to the limitations herein, the grant of Incentive Stock
Options, Non-Qualified Stock Options, Stock Appreciation Rights, Restricted Stock, Restricted Units, Unrestricted Stock, and/or Incentive Awards to Members and Non-Employee Service Providers and Non-Qualified Stock Options, Restricted Stock and
Restricted Units to Non-Employee Directors. 
 The Plan was adopted by the Board of Directors of the Company on February 21, 2006, to
become effective (the “Effective Date”) as of May 16, 2006 once approved by the Company’s shareholders at the May 16, 2006 annual meeting in accordance with applicable laws and applicable rules of the New York Stock
Exchange. Awards may not be granted under the Plan prior to shareholder approval of the Plan. The Plan actually became effective once the results of the shareholder meeting were finally certified by the independent inspectors of election on
June 28, 2006 and was subsequently amended effective August 15, 2006 to place further limitation on awards that did not require shareholder approval. 
 1.2 Purpose of the Plan. The purpose of the Plan is to promote the success of the Company and its Subsidiaries by providing incentives to Members, Non-Employee Service Providers and/or Non-Employee Directors
that will promote the identification of their personal interest with the long term financial success of the Company and with growth in shareholder value. The Plan is designed to provide flexibility to the Company in its ability to motivate, attract,
and retain the services of Members, Non-Employee Service Providers and/or Non-Employee Directors upon whose judgment, interest, and special effort the successful conduct of its operation is largely dependent. 
 1.3 Duration of the Plan. The Plan shall commence on the Effective Date, as described in Section 1.1 herein, and shall remain in effect,
subject to the right of the Board of Directors to terminate the Plan at any time pursuant to Article XIV herein, until May 15, 2016, at which time the Plan shall terminate except with respect to Awards made prior to and outstanding on that date
which shall remain valid in accordance with their terms. 
 ARTICLE II 
 Definitions 
 2.1 Definitions. Except as otherwise defined in the Plan,
the following terms shall have the meanings set forth below: 
 (a) “Agreement” means a written agreement implementing the grant of
each Award signed by an authorized officer of the Company or member of the Committee and by the Participant. 
  

 1 

 MASSEY ENERGY COMPANY 
 2006 STOCK AND INCENTIVE COMPENSATION PLAN 
 (as Amended and Restated Effective August 15, 2006) 

 

 (b) “Award” or “Grant” means, individually or collectively, a grant under the
Plan of Incentive Stock Options, Non-Qualified Stock Options, Stock Appreciation Rights, Restricted Stock, Restricted Units, Unrestricted Stock and/or Incentive Awards. 
 (c) “Award Date” or “Grant Date” means the date on which an Award is made by the Committee under the Plan. 
 (d) “Board” or “Board of Directors” means the Board of Directors of the Company. 
 (e)
“Change in Control” means, unless the Committee or the Board shall provide otherwise, an occurrence of any of the following events (i) a third person, including a “group” as defined in Section 13(d)(3) of the Exchange
Act, acquires shares of the Company having twenty-five percent or more of the total number of votes that may be cast for the election of directors of the Company, (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; or (c) such other events as the Committee or the Board from time to time may specify. “Change in Control Transaction” means, unless the Committee or the Board shall provide otherwise, any tender offer, offer, exchange offer,
solicitation, merger, consolidation, reorganization or other transaction which is intended to or reasonably expected to result in a Change in Control. 
 (f) “Code” means the Internal Revenue Code of 1986, as amended from time to time. 
 (g)
“Committee” means the committee or committees of the Board appointed to administer the Plan pursuant to Article III herein. With respect to Awards granted pursuant to the Plan to Members and Non-Employee Service Providers, all of the
members of the Committee shall be “non-employee directors” as defined in Rule 16b-3, as amended, under the Exchange Act, or any similar or successor rule, and “outside directors” within the meaning of Section 162(m)(4)(C)(i)
of the Code. Unless otherwise determined by the Board, the Compensation Committee of the Board, or any successor committee responsible for executive compensation, shall constitute the Committee with respect to Awards to Members, Non-Employee Service
Providers, and Non-Employee Directors. 
 (h) “Company” means Massey Energy Company, a Delaware corporation, or any successor
thereto as provided in Article XVI herein. 
 (i) “Exchange Act” means the Securities Exchange Act of 1934, as amended from time to
time. 
  

 2 

 MASSEY ENERGY COMPANY 
 2006 STOCK AND INCENTIVE COMPENSATION PLAN 
 (as Amended and Restated Effective August 15, 2006) 

 

 (j) “Fair Market Value” of a Share for purposes of this Plan means as of any date, the
average of the highest price and the lowest price per share at which the Shares are sold in the regular way on the New York Stock Exchange or, if no Shares traded on the New York Stock Exchange on the date in question, then for the next preceding
date for which Shares traded on the New York Stock Exchange or if, in the opinion of the Committee, this method is inapplicable or inappropriate for any reason, the fair market value as determined pursuant to a reasonable method adopted by the
Committee in good faith for such purpose. 
 (k) “Incentive Award” means an Award, designated as an Incentive Award, which is a
bonus opportunity awarded under Article XI herein pursuant to which a Participant may become entitled to receive an amount (which may be payable in cash, Shares or other property) based on satisfaction of such performance criteria as are specified
in the Agreement evidencing the Award. 
 (l) “Incentive Stock Option” or “ISO” means an option to purchase Stock,
granted under Article VI herein, which is designated as an incentive stock option and meets the requirements of Section 422 of the Code. 
 (m) “Member” means a current or prospective member employed as a common law employee of the Company or any Subsidiary (including any corporation, partnership, limited liability company or joint venture which becomes a Subsidiary
after the adoption of the Plan by the Board). 
 (n) “Non-Employee Director” means a director of the Company or any Subsidiary who
is not a common law employee of the Company or any Subsidiary (including any corporation, partnership, limited liability company or joint venture which becomes a Subsidiary after the adoption of the Plan by the Board). 
 (o) “Non-Employee Service Provider” means a consultant, advisor or other independent contractor providing services to the Company or any
Subsidiary (including any corporation, partnership, limited liability company or joint venture which becomes a Subsidiary after the adoption of the Plan by the Board). 
 (p) “Non-Qualified Stock Option” or “NQSO” means an option to purchase Stock, granted under Article VI herein, which is not an Incentive Stock Option. 
 (q) “Option” means an Incentive Stock Option or a Non-Qualified Stock Option. 
 (r) “Option Price” means the exercise price per share of Stock covered by an Option. 
 (s) “Participant” means a Member, a Non-Employee Service Provider or a Non-Employee Director who has been granted an Award or Grant under the
Plan and whose Award or Grant remains outstanding. 
  

 3 

 MASSEY ENERGY COMPANY 
 2006 STOCK AND INCENTIVE COMPENSATION PLAN 
 (as Amended and Restated Effective August 15, 2006) 

 

 (t) “Performance-Based Compensation Award” means any Award for which exercise, full
enjoyment or receipt thereof by the Participant is contingent on satisfaction or achievement of a Performance Goal applicable thereto. If a Performance-Based Compensation Award is intended to be “performance-based compensation” within the
meaning of Section 162(m)(4)(C) of the Code, the grant of the Award, the establishment of the Performance Goal, the making of any modifications or adjustments and the determination of satisfaction or achievement of the Performance Goal shall be
made during the period or periods required under and in conformity with the requirements of Section 162(m) of the Code. The terms and conditions of each Performance-Based Compensation Award, including the Performance Goal and Performance
Period, shall be set forth in an Agreement or in a subplan of the Plan which is incorporated by reference into an Agreement. 
 (u)
“Performance Goal” means one or more performance measures or goals set by the Committee in its discretion for each grant of a Performance-Based Compensation Award. The extent to which such performance measures or goals are met will
determine the amount or value of the Performance-Based Compensation Award to which a Participant is entitled to exercise, receive or retain. For purposes of this Plan, a Performance Goal may include any one or more of the following performance
criteria, either individually, alternatively or in any combination, applied to either the Company as a whole or to a business unit, subsidiary or business segment, either individually, alternatively or in any combination, and measured either
annually or cumulatively over a period of years, on an absolute basis or relative to a pre-established target, to previous years’ results or to a designated comparison group, in each case as specified by the Committee in the Award:
(i) cash flow, (ii) earnings (including gross margin, earnings before interest, taxes, depreciation and amortization (“EBITDA”), earnings before interest and taxes (“EBIT”), earnings before taxes (“EBT”), and
net earnings), (iii) earnings per share (basic or diluted), (iv) growth in earnings or earnings per share, (v) stock price, (vi) return on equity or average stockholders’ equity, (vii) total stockholder return,
(viii) return on capital, (ix) return on assets or net assets, (x) return on investment, (xi) revenue, (xii) produced tons, (xiii) delivered tons, (xiv) reserve acquisitions, (xv) income or net income,
(xvi) operating income or net operating income, (xvii) operating profit or net operating profit, (xviii) operating margin, (xix) return on operating revenue, (xx) market share, (xxi) contract awards or backlog,
(xxii) overhead or other expense reduction, (xxiii) growth in stockholder value relative to the one- or two-year moving average of the S&P 600 Smallcap Index, Bloomberg U.S. Coal Index, or other index of which the Company is a part,
(xxiv) credit rating, (xxv) strategic plan development and implementation, (xxvi) succession plan development and implementation, (xxvii) retention of executive talent, (xxviii) improvement in workforce diversity,
(xxix) improvement in safety records, (xxx) capital resource management plan development and implementation, (xxxi) improved internal financial controls plan development and implementation, (xxxii) corporate tax savings,
(xxxiii) corporate cost of capital reduction, (xxxiv) investor relations program development and implementation, (xxxv) corporate relations program development and implementation, (xxxvi) public policy accomplishments,
(xxxvii) executive performance plan development and implementation, and (xxxviii) tax provision rate for financial statement purposes. 
  

 4 

 MASSEY ENERGY COMPANY 
 2006 STOCK AND INCENTIVE COMPENSATION PLAN 
 (as Amended and Restated Effective August 15, 2006) 

 

 The Committee, in its sole discretion, may adjust any evaluation of performance under a Performance Goal to take into
account any of the following events that occurs during a performance period: (i) asset write-downs, (ii) litigation or claim judgments or settlements, (iii) the effect of changes in tax law, accounting principles or other such laws or
provisions affecting reported results, (iv) accruals for reorganization and restructuring programs, and (v) any extraordinary non-recurring items as described in Accounting Principles Board Opinion No. 30 (or in any replacement
thereof) and/or in management’s discussion and analysis of financial condition and results of operations appearing in the Company’s annual report to stockholders for the applicable year. A Performance Goal may include a threshold level of
performance below which no payment or vesting may occur, levels of performance at which specified payments or specified vesting will occur, and a maximum level of performance above which no additional payment or vesting will occur. Each of the
Performance Goals shall be determined, where applicable and except as provided above, in accordance with generally accepted accounting principles. Prior to the payment of any compensation under an Award intended to qualify as “performance-based
compensation” under Section 162(m) of the Code, the Committee shall certify the extent to which any Performance Goal and any other material terms under such Award have been satisfied (other than in cases where such relate solely to the
increase in the value of Stock). 
 (v) “Performance Period” means the time period during which the Performance Goal must be met in
connection with a Performance-Based Compensation Award. Such time period shall be set by the Committee. 
 (w) “Period of
Restriction” means the period during which Restricted Stock or Restricted Units are restricted as provided in the Plan. 
 (x)
“Plan” means the Massey Energy Company 2006 Stock and Incentive Compensation Plan, as herein described and as hereafter from time to time amended. 
 (y) “Restricted Stock” means an Award of Stock granted to a Participant pursuant to Section 6.7 or 7.6 or Article VIII herein which is subject to restrictions and forfeiture until the designated
conditions for the lapse of the restrictions are satisfied. 
 (z) “Restricted Unit” means an Award, designated as a Restricted
Unit, which is a bookkeeping entry granted to a Participant pursuant to Article IX herein and valued by reference to the Fair Market Value of a Share, which is subject to restrictions and forfeiture until the designated conditions for the lapse of
the restrictions are satisfied. A Restricted Unit is sometimes referred to as a “Restricted Unit” or a “restricted stock unit.” Restricted Units represent an unfunded and unsecured obligation of the Company, except as otherwise
provided for by the Committee. 
 (aa) “Stock” or “Shares” means the common stock of the Company. 
 (bb) “Stock Appreciation Right” or “SAR” means an Award, designated as a stock appreciation right, granted to a Participant pursuant
to Article VII herein. 
  

 5 

 MASSEY ENERGY COMPANY 
 2006 STOCK AND INCENTIVE COMPENSATION PLAN 
 (as Amended and Restated Effective August 15, 2006) 

 

 (cc) “Subsidiary” means any subsidiary corporation of the Company within the meaning of
Section 424(f) of the Code (“Section 424(f) Corporation”) and any partnership, limited liability company or joint venture in which either the Company or Section 424(f) Corporation is at least a fifty percent (50%) equity
participant. 
 (dd) “Unrestricted Stock Award” means an award of Stock granted to a Participant pursuant to Article X herein.

 ARTICLE III 
 Administration 
 3.1 Administration of the Plan by the Committee. The Plan shall be administered by the Committee
which shall have all powers necessary or desirable for such administration. The express grant in the Plan of any specific power to the Committee shall not be construed as limiting any power or authority of the Committee. In addition to any other
powers and, subject to the provisions of the Plan, the Committee shall have the following specific powers: (i) to determine the terms and conditions upon which the Awards may be made and exercised; (ii) to determine all terms and
conditions of each Agreement, which need not be identical; (iii) to construe and interpret the Agreements and the Plan; (iv) to establish, amend or waive rules or regulations for the Plan’s administration; (v) to accelerate the
exercisability of any Award, the end of a Performance Period or termination of any Period of Restriction or other restrictions imposed under the Plan; and (vi) to make all other determinations and take all other actions necessary or advisable
for the administration of the Plan. 
 For purposes of determining the applicability of Section 422 of the Code (relating to Incentive
Stock Options), or in the event that the terms of any Award provide that it may be exercised only during employment or service or within a specified period of time after termination of employment or service, the Committee may decide to what extent
leaves of absence for governmental or military service, illness, temporary disability, or other reasons shall not be deemed interruptions of employment or service or continuous employment or service. 
 Subject to limitations under applicable law, the Committee is authorized in its discretion to issue Awards and/or accept notices, elections, consents
and/or other forms or communications by Participants by electronic or similar means, including, without limitation, transmissions through e-mail, voice mail, recorded messages on electronic telephone systems, and other permissible methods, on such
basis and for such purposes as it determines from time to time. 
 A majority of the entire Committee shall constitute a quorum and the
action of a majority of the members present at any meeting, 24 hours notice having been given or waived, at which a quorum is present (in person or as otherwise permitted by applicable law), or acts approved in writing by all of the Committee
without a meeting, shall be deemed the action of the Committee. 
  

 6 

 MASSEY ENERGY COMPANY 
 2006 STOCK AND INCENTIVE COMPENSATION PLAN 
 (as Amended and Restated Effective August 15, 2006) 

 

 The Committee may designate the Secretary of the Company or other Company employees to assist the
Committee in the administration of the Plan, and may grant authority to such persons to execute agreements evidencing Awards made under this Plan or other documents entered into under the Plan on behalf of the Committee or the Company. 

3.2 Selection of Participants. The Committee shall have the authority to grant Awards under the Plan, from time to time, to such Members,
Non-Employee Service Providers and/or Non-Employee Directors as may be selected by it. Each Award shall be evidenced by an Agreement. 
 3.3
Decisions Binding. All determinations and decisions made by the Committee pursuant to the provisions of the Plan shall be final, conclusive and binding. 
 3.4 Requirements of Rule 16b-3 of the Exchange Act and Section 162(m) of the Code. Notwithstanding any other provision of the Plan, the Board or the Committee may impose such conditions on any Award, and
amend the Plan in any such respects, as may be required to satisfy the requirements of Rule 16b-3 of the Exchange Act, as amended (or any successor or similar rule). 
 Any provision of the Plan to the contrary notwithstanding, and except to the extent that the Committee determines otherwise: (i) transactions by and with respect to officers and directors of the Company who are
subject to Section 16(b) of the Exchange Act (hereafter, “Section 16 Persons”) shall comply with any applicable conditions of Rule 16b-3 of the Exchange Act; (ii) transactions with respect to persons whose remuneration is subject
to the provisions of Section 162(m) of the Code shall conform to the requirements of Section 162(m)(4)(C) of the Code; and (iii) every provision of the Plan shall be administered, interpreted, and construed to carry out the foregoing
provisions of this sentence. 
 Notwithstanding any provision of the Plan to the contrary, the Plan is intended to give the Committee the
authority to grant Awards that qualify as performance-based compensation under Section 162(m)(4)(C) of the Code as well as Awards that do not so qualify. Every provision of the Plan shall be administered, interpreted, and construed to carry out
such intention, and any provision that cannot be so administered, interpreted, and construed shall to that extent be disregarded; and any provision of the Plan that would prevent an Award that the Committee intends to qualify as performance-based
compensation under Section 162(m)(4)(C) of the Code from so qualifying shall be administered, interpreted, and construed to carry out such intention, and any provision that cannot be so administered, interpreted, and construed shall to that
extent be disregarded. 
 3.5 Indemnification of Committee. In addition to such other rights of indemnification as they may have as
directors or as members of the Committee, the members of the Committee shall be indemnified by the Company against reasonable expenses, including attorneys’ fees, actually and reasonably incurred in connection with the defense of any action,
suit or proceeding, or in connection with any appeal therein, to which they or any of them may be a party by reason 
  

 7 

 MASSEY ENERGY COMPANY 
 2006 STOCK AND INCENTIVE COMPENSATION PLAN 
 (as Amended and Restated Effective August 15, 2006) 

 

 of any action taken or failure to act under or in connection with the Plan or any Award granted or made hereunder,
and against all amounts reasonably paid by them in settlement thereof or paid by them in satisfaction of a judgment in any such action, suit or proceeding, if such members acted in good faith and in a manner which they believed to be in, and not
opposed to, the best interests of the Company and its Subsidiaries. 
 ARTICLE IV 
 Stock Subject to the Plan 
 4.1
Number of Shares Authorized for Issuance during Term of the Plan. Subject to adjustment as provided in Section 4.4 herein and to the next paragraph of this Section, the maximum aggregate number (the “Maximum Aggregate Number”)
of Shares that may be issued pursuant to Awards made under the Plan during the term of the Plan stated in Section 1.3 shall not exceed the sum of (i) 3,500,000 and (ii) that number of Shares that (A) are represented by restricted
stock or unexercised vested or unvested stock options which previously have been granted and are outstanding under the Massey Energy Company 1988 Executive Stock Plan, the Massey Energy Company Stock Plan for Non-Employee Directors, the Massey
Energy Company 1996 Executive Stock Plan, the Massey Energy Company 1997 Restricted Stock Plan for Non-Employee Directors, and the Massey Energy Company 1999 Executive Performance Incentive Plan as of the Effective Date and (B) expire or
otherwise lapse, are terminated or forfeited, are settled in cash, or are withheld or delivered to the Company for tax purposes at any time after the Effective Date. No awards shall be granted under the Massey Energy Company 1988 Executive Stock
Plan, Massey Energy Company Stock Plan for Non-Employee Directors, Massey Energy Company 1996 Executive Stock Plan, Massey Energy Company 1997 Restricted Stock Plan for Non-Employee Directors, and the Massey Energy Company 1999 Executive Performance
Incentive Plan on or after the Effective Date. 
 Except as provided in Sections 4.2 and 4.3 herein, only Shares actually issued in
connection with the exercise of, or as other payment for Awards, under the Plan shall reduce the number of Shares available for future Awards under the Plan. Awards settled in cash shall not count against the Maximum Aggregate Number. 
 Stock that may be issued under the Plan may either be Shares reacquired by the Company, including Shares purchased in the open market, authorized but
unissued Shares, Shares held in treasury, or Shares held in a grantor trust created by the Company. Such Shares, however, shall count against the Maximum Aggregate Number, except as provided in the foregoing paragraph. 
 The Company, during the term of the Plan and thereafter during the term of any outstanding Award which may be settled in Stock, shall reserve and keep
available a number of Shares sufficient to satisfy the requirements of the Plan. 
 4.2 Lapsed Awards or Forfeited Shares. If any
Award granted under the Plan terminates, expires, or lapses for any reason other than by virtue of exercise of the Award, or if Shares issued pursuant to Awards are forfeited, any Stock subject to such Award again shall be available for the grant of
an Award under the Plan. 
  

 8 

 MASSEY ENERGY COMPANY 
 2006 STOCK AND INCENTIVE COMPENSATION PLAN 
 (as Amended and Restated Effective August 15, 2006) 

 

 4.3 Shares Used as Payment of Exercise Price or for Taxes. In the event a Participant pays the
Option Price for Shares pursuant to the exercise of an Option with previously acquired Shares, the number of Shares available for future Awards under the Plan shall be reduced only by the net number of new Shares issued upon the exercise of the
Option. In addition, in determining the number of shares of Stock available for Awards, if Stock has been delivered or exchanged by, or withheld from, a Participant as full or partial payment to the Company for payment of withholding taxes, or if
the number of shares of Stock otherwise deliverable by the Company has been reduced for payment of withholding taxes, the number of shares of Stock exchanged by or withheld from a Participant as payment in connection with the withholding tax or so
reduced by the Company shall again be available for the grant of an Award under the Plan. 
 4.4 Capital Adjustments. If the
outstanding securities of the class then subject to the Plan are increased, decreased or exchanged for or converted into cash, property or a different number or kind of shares or securities, or if cash, property or shares or securities are
distributed in respect of such outstanding securities, in either case as a result of a reorganization, merger, consolidation, recapitalization, restructuring, reclassification, dividend (other than a regular, quarterly cash dividend) or other
distribution, stock split, reverse stock split, spin-off or the like, or if substantially all of the property and assets of the Company are sold, then, unless the terms of such transaction shall provide otherwise, the Committee may make appropriate
and proportionate adjustments in (i) the number and class of Shares subject to, or cash or other property that may be acquired pursuant to, each outstanding Award, the Option Price and the annual limits on and aggregate number of Shares for
which Awards thereafter may be made; provided, however, that any such adjustment shall be made in such a manner that will not affect the status of any Award intended to be excepted from treatment as nonqualified deferred compensation under
Section 409A of the Code, qualify as an ISO under Section 422 of the Code or as “performance based compensation” under Code Section 162(m), and (ii) the maximum number and type of shares or other securities that may be
issued pursuant to such Awards thereafter granted under the Plan. No fractional interests will be issued under the Plan resulting from any such adjustments. 
 ARTICLE V 
 Eligibility 
 Persons eligible to participate in the Plan are (i) Members, (ii) Non-Employee Service Providers and (iii) Non-Employee Directors.
Multiple grants of Awards under the Plan may be made in any calendar year to one or more Participants. 
 ARTICLE VI 
 Stock Options 
 6.1 Grant of
Options. Subject to the terms and conditions of the Plan, the Committee, at any time and from time to time, may grant Options under the Plan (with one Option 
  

 9 

 MASSEY ENERGY COMPANY 
 2006 STOCK AND INCENTIVE COMPENSATION PLAN 
 (as Amended and Restated Effective August 15, 2006) 

 

 representing one Share) to Members, Non-Employee Service Providers and Non-Employee Directors in such amounts as it
shall determine; provided, however, that (i) Non-Employee Service Providers and Non-Employee Directors may only be granted Non-Qualified Stock Options, (ii) no Participant may be granted Options in any calendar year for more than 400,000
Shares, provided that only for purposes of qualifying for the performance-based compensation exception under Section 162(m) of the Code, Options which are awarded and then cancelled and Options for which the exercise price is lowered both
continue to count against this limit, and (iii) the aggregate Fair Market Value (determined at the time the Award is made) of Shares with respect to which any Participant may first exercise ISOs granted under the Plan during any calendar year
may not exceed $100,000 or such amount as shall be specified in Section 422 of the Code and rules and regulations thereunder. 
 6.2
Option Agreement. Each Option grant shall be evidenced by an Agreement that shall specify the type of Option granted, the Option Price (as hereinafter defined), the duration of the Option, the number of Shares to which the Option pertains,
any conditions imposed upon the exercisability of Options in the event of retirement, death, disability or other termination of employment or service, and such other provisions as the Committee shall determine. The Agreement shall specify whether
the Option is intended to be an Incentive Stock Option within the meaning of Section 422 of the Code, or a Non-Qualified Stock Option not intended to be an Incentive Stock Option within the meaning of Section 422 of the Code; provided,
however, that if an Option is intended to be an Incentive Stock Option but fails to be such for any reason, it shall continue in full force and effect as a Non-Qualified Stock Option. If an Option is intended to be a Performance-Based Compensation
Award, the terms and conditions thereof, including the Performance Goal and Performance Period, shall be set forth in an Agreement or in a subplan of the Plan which is incorporated by reference into an Agreement and the requirements to satisfy or
achieve the Performance Goal as so provided therein shall be considered to be restrictions under the Plan. 
 6.3 Option Price. The
Option Price of an Option shall be determined by the Committee subject to the following limitations. The Option Price shall not be less than 100% of the Fair Market Value of such Stock on the Grant Date. In addition, an ISO granted to a Member who,
at the time of grant, owns (within the meaning of Section 424(d) of the Code) stock possessing more than 10% of the total combined voting power of all classes of stock of the Company, shall have an Option Price which is at least equal to 110%
of the Fair Market Value of such Stock on the Grant Date. 
 6.4 Duration of Options. Each Option shall expire at such time as the
Committee shall determine; provided, however, that no Option shall be exercisable after the expiration of ten years from its Award Date. In addition, an ISO granted to a Member who, at the time of grant, owns (within the meaning of
Section 424(d) of the Code) stock possessing more than 10% of the total combined voting power of all classes of stock of the Company, shall not be exercisable after the expiration of five years from its Grant Date. 
  

 10 

 MASSEY ENERGY COMPANY 
 2006 STOCK AND INCENTIVE COMPENSATION PLAN 
 (as Amended and Restated Effective August 15, 2006) 

 

 6.5 Exercisability. Options granted under the Plan shall be exercisable at such times and be
subject to such restrictions and conditions as the Committee shall determine, which need not be the same for all Participants. 
 6.6
Method of Exercise. Options shall be exercised by the delivery of a written notice to the Company in the form prescribed by the Committee setting forth the number of Shares with respect to which the Option is to be exercised, accompanied by
full payment for the Shares and payment of (or an arrangement satisfactory to the Company for the Participant to pay) any tax withholding required in connection with the Option exercise. The Option Price shall be payable to the Company in full
either in cash, by delivery of Shares of Stock valued at Fair Market Value at the time of exercise, or by a combination of the foregoing, except as otherwise provided below. 
 To the extent permitted under the applicable laws and regulations, at the request of the Participant and with the consent of the Committee, the Company
agrees to cooperate in a “cashless exercise” of an Option. The cashless exercise shall be effected by the Participant delivering to a securities broker, selected or approved by the Committee, instructions to exercise all or part of the
Option, including instructions to sell a sufficient number of shares of Stock to cover the costs and expenses associated therewith. 
 As
soon as practicable, after receipt of written notice and payment of the Option Price and completion of payment of (or an arrangement satisfactory to the Company for the Participant to pay) any tax withholding required in connection with the Option
exercise, the Company shall cause the appropriate number of Shares to be issued in the Participant’s name, which issuance shall be effected in book entry or electronic form, provided that issuance and delivery in certificated form shall occur
if the Participant so requests in writing or the Committee so directs. 
 6.7 Restrictions on Stock Transferability. The Committee may
impose such restrictions on any Shares acquired pursuant to the exercise of an Option under the Plan as it may deem advisable, including, without limitation, restrictions under applicable Federal securities law, under the requirements of the New
York Stock Exchange or any stock exchange upon which such Shares are then listed and under any blue sky or state securities laws applicable to such Shares. In the event the Committee so provides in an Agreement pertaining to an Option, Stock
delivered on exercise of the Option may be designated as Restricted Stock or Stock subject to a buyback right by the Company in the amount of, or based on, the Option Price therefor or otherwise in the event the Participant does not complete a
specified service period after exercise. 
 ARTICLE VII 
 Stock Appreciation Rights 
 7.1 Grant of Stock Appreciation Rights. Subject to the terms and
conditions of the Plan, the Committee, at any time and from time to time, may grant Stock Appreciation Rights under the Plan to Members and Non-Employee Service Providers in such amounts as it shall determine; provided, however, that no Participant
may be granted more than 400,000 SARs in 
  

 11 

 MASSEY ENERGY COMPANY 
 2006 STOCK AND INCENTIVE COMPENSATION PLAN 
 (as Amended and Restated Effective August 15, 2006) 

 

 any calendar year; and provided, further, that only for purposes of qualifying for the performance-based compensation
exception under Section 162(m) of the Code, SARs for which the Base Value provided in Section 7.5 against which the stock appreciation is determined is lowered continue to count against this limit. 
 7.2 SAR Agreement. Each SAR grant shall be evidenced by an Agreement that shall specify the Base Value (as defined in Section 7.5), the
duration of the SAR, the number of Shares to which the SAR pertains, any conditions imposed upon the exercisability of the SAR in the event of retirement, death, disability or other termination of employment or service, and such other provisions as
the Committee shall determine. SARs granted under the Plan shall be exercisable at such times and be subject to such restrictions and conditions as the Committee shall determine, which need not be the same for all Participants consistent with the
Plan. If a SAR Grant is intended to be a Performance-Based Compensation Award, the Performance Goal and Performance Period shall be set forth in an Agreement or in a subplan of the Plan which is incorporated by reference into an Agreement and the
requirements to satisfy or achieve the Performance Goal as so provided therein shall be considered to be restrictions under the Plan. 
 7.3
Exercise of SARs. SARs may be exercised with respect to all or part of the Shares upon whatever terms and conditions the Committee, in its sole discretion, imposes upon such SARs. SARs shall be exercised by delivery to the Committee of a
notice of exercise in the form prescribed by the Committee. 
 7.4 Other Conditions Applicable to SARs. In no event shall the term of
any SAR granted under the Plan exceed ten years from the Grant Date. A SAR may be exercised only when the Fair Market Value of a Share exceeds the Base Value (as defined in Section 7.5). 
 7.5 Payment after Exercise of SARs. Subject to the provisions of the Agreement, upon the exercise of SARs, the Participant is entitled to receive,
without any payment to the Company (other than applicable tax withholding when due), an amount equal (the “SAR Value”) to the product of multiplying (i) the number of Shares with respect to which the SAR is exercised by (ii) an
amount equal to the excess of (A) the Fair Market Value per Share on the date of exercise of the SAR over (B) the “Base Value” of the SAR designated in the Agreement (which “Base Value” shall be the Fair Market Value
per Share on the Award Date or any amount greater than such Fair Market Value stated as the Base Value in the Agreement). The Agreement may provide for payment of the SAR Value at the time of exercise or, on an elective or non-elective basis, for
payment of the SAR Value at a later date, adjusted (if so provided in the Agreement) from the date of exercise based on an interest, dividend equivalent, earnings, or other basis (including deemed investment of the SAR Value in Shares) set out in
the Agreement (the “adjusted SAR Value”). The Committee is expressly authorized to grant SARs which are deferred compensation covered by Section 409A of the Code, as well as SARs which are not deferred compensation covered by
Section 409A of the Code. 
 Payment of the SAR Value or adjusted SAR Value to the Participant shall be made (i) in Shares, valued
at the Fair Market Value on the date of exercise in the case of an immediate 
  

 12 

 MASSEY ENERGY COMPANY 
 2006 STOCK AND INCENTIVE COMPENSATION PLAN 
 (as Amended and Restated Effective August 15, 2006) 

 

 payment after exercise or at the Fair Market Value on the date of settlement in the event of an elective or
non-elective delayed payment, (ii) in cash or (iii) in a combination thereof as determined or permitted by the Committee, either at the time of the Award or, unless otherwise provided in the applicable Agreement, thereafter, and as
provided in the Agreement. Any payment in Shares shall be effected in book entry or electronic form, provided that issuance and delivery in certificated form shall occur if the Participant so requests in writing or the Committee so directs.

 7.6 Restrictions on Stock Transferability. The Committee may impose such restrictions on any Shares acquired pursuant to the
exercise of a SAR under the Plan as it may deem advisable, including, without limitation, restrictions under applicable Federal securities law, under the requirements of the New York Stock Exchange or any stock exchange upon which such Shares are
then listed and under any blue sky or state securities laws applicable to such Shares. In the event the Committee so provides in an Agreement pertaining to a SAR, Stock delivered on exercise of the SAR may be designated as Restricted Stock or Stock
subject to a buyback right by the Company in the amount of, or based on, the Base Value (as defined in Section 7.5) therefor or otherwise in the event the Participant does not complete a specified service period after exercise. 
 ARTICLE VIII 
 Restricted Stock

 8.1 Grant of Restricted Stock. Subject to the terms and conditions of the Plan, the Committee, at any time and from time to
time, may grant Shares of Restricted Stock under the Plan to such Members, Non-Employee Service Providers and Non-Employee Directors and in such amounts as it shall determine; provided, however, that no Participant may be granted more than 200,000
Shares of Restricted Stock in any calendar year. Participants receiving Restricted Stock Awards are not required to pay the Company therefor (except for applicable tax withholding when due) other than the rendering of services. As determined by the
Committee, Shares of Restricted Stock may be issued in book entry or electronic form or in certificated form. 
 Notwithstanding anything to
the contrary in the foregoing, the Committee is expressly authorized to make Awards of Restricted Stock based on a Member’s, Non-Employee Service Provider’s or Non-Employee Director’s acquisition and/or holding of Stock (including for
this purpose any deemed investment in Stock) in his individual capacity or under any nonqualified deferred compensation plan or tax qualified plan (if permissible under applicable qualification rules of the Code) maintained by the Company or a
Subsidiary. 
 8.2 Restricted Stock Agreement. Each Restricted Stock Award shall be evidenced by an Agreement that shall specify the
Period of Restriction, the number of Shares of Restricted Stock granted, and the applicable restrictions (whether service-based restrictions, with or without performance acceleration, and/or performance-based restrictions) and such other provisions
as the Committee shall determine. If an Award of Restricted Stock is intended to be a Performance-Based Compensation Award, the terms and conditions of such Award, including the Performance 
  

 13 

 MASSEY ENERGY COMPANY 
 2006 STOCK AND INCENTIVE COMPENSATION PLAN 
 (as Amended and Restated Effective August 15, 2006) 

 

 Goal and Performance Period, which shall be no less than one year, shall be set forth in an Agreement or in a subplan
of the Plan which is incorporated by reference into an Agreement and the requirements to satisfy or achieve the Performance Goal as so provided therein shall be considered to be restrictions under the Plan. If vesting of an Award of Restricted Stock
is intended to be service-based (whether solely service-based or service-based with performance acceleration), the Award’s service-based vesting period shall be at least three years, though the Award’s service-based vesting may occur
ratably over the course of such period (e.g. a three year service-based award may vest one-third on each of the first, second and third anniversaries of the Grant Date). Unless otherwise determined by the Committee, custody of Shares of Restricted
Stock maintained in certificated form shall be retained by the Company until the termination of the restrictions pertaining thereto. 
 8.3
Other Restrictions. The Committee may impose such other restrictions under applicable Federal or state securities laws as it may deem advisable, and may legend the certificates representing Restricted Stock to give appropriate notice of such
restrictions. 
 8.4 Certificate Legend. In addition to any legends placed on certificates pursuant to Section 8.3 herein, each
certificate representing Shares of Restricted Stock issued pursuant to the Plan shall bear the following legend: 
 “The sale or other
transfer of the shares of Massey Energy Company stock represented by this certificate, whether voluntary, involuntary, or by operation of law, is subject to certain restrictions on transfer set forth in the Massey Energy Company 2006 Stock and
Incentive Compensation Plan, in the rules and administrative procedures adopted pursuant to such Plan, and in an associated Restricted Stock Agreement. A copy of the Plan, such rules and procedures, and the applicable Restricted Stock Agreement may
be obtained from the Secretary of Massey Energy Company.” 
 8.5 Removal of Restrictions. Except as otherwise provided in this
Article, Shares of Restricted Stock covered by each Award of, or payable in, Restricted Stock made under the Plan shall become freely transferable by the Participant after the last day of the Period of Restriction and, where applicable, after a
determination of the satisfaction or achievement on any applicable Performance Goal by the Committee. The Shares of Stock shall remain in book entry or electronic form, unless and until the Participant requests in writing, or the Committee directs,
for certificates evidencing the Shares to be issued. Such Shares, having been released from the restrictions, shall not bear the restrictive legends required by Section 8.3 or 8.4. 
 8.6 Voting Rights. Unless otherwise provided in the Agreement, during the Period of Restriction, Participants holding Shares of Restricted Stock
granted hereunder may exercise voting rights with respect to those Shares. 
 8.7 Dividends and Other Distributions. Unless otherwise
provided in the Agreement (which may or may not provide for the accumulation and payment of dividends and other distributions made in cash or property other than Shares until the Shares of Restricted Stock to 
  

 14 

 MASSEY ENERGY COMPANY 
 2006 STOCK AND INCENTIVE COMPENSATION PLAN 
 (as Amended and Restated Effective August 15, 2006) 

 

 which the dividends and other distributions relates vest), during the Period of Restriction, Participants entitled to
or holding Shares of Restricted Stock granted hereunder shall be entitled to receive all dividends and other distributions paid in cash or property other than Shares with respect to those Shares of Restricted Stock. If any dividends or distributions
are paid in Shares, such Shares shall be subject to the same restrictions on transferability and the same rules for vesting, forfeiture and custody as the Shares of Restricted Stock with respect to which they were distributed. If provided in the
Agreement and if a Participant timely elects in accordance with the requirements for compliance with the nonqualified deferred compensation provisions of Section 409A of the Code, Participants may be given the right to elect to defer the
receipt of such dividends and other distributions until the Participant ceases employment or service with the Company and its Subsidiaries, until a specified time or until the Shares of Restricted Stock to which the dividends and other distributions
relate vest. 
 ARTICLE IX 
 Restricted Units 
 9.1 Grant of Restricted Units. Subject to the terms and conditions of the Plan, the Committee, at
any time and from time to time, may grant Restricted Units under the Plan (with one Restricted Unit representing one Share) to such Members, Non-Employee Service Providers and Non-Employee Directors and in such amounts as it shall determine;
provided, however, that no Participant may be granted more than 200,000 Restricted Units in any calendar year. Participants receiving Restricted Unit Awards are not required to pay the Company therefor (except for applicable tax withholding when
due) other than the rendering of services. 
 Notwithstanding anything to the contrary in the foregoing, the Committee is expressly
authorized to make Awards of Restricted Units based on a Member’s, Non-Employee Service Provider’s or Non-Employee Director’s acquisition and/or holding of Stock (including for this purpose any deemed investment in Stock) in his
individual capacity or under any nonqualified deferred compensation plan or tax qualified plan (if permissible under applicable qualification rules of the Code) maintained by the Company or a Subsidiary. 
 9.2 Restricted Unit Agreement. Each Restricted Unit Award shall be evidenced by an Agreement that shall specify the Period of Restriction, the
number of Restricted Units granted, and the applicable restrictions (whether service-based restrictions, with or without performance acceleration, and/or performance-based restrictions) and such other provisions as the Committee shall determine. If
an Award of Restricted Units is intended to be a Performance-Based Compensation Award, the terms and conditions of such Award, including the Performance Goal and Performance Period, which shall be no less than one year, shall be set forth in an
Agreement or in a subplan of the Plan which is incorporated by reference into an Agreement and the requirements to satisfy or achieve the Performance Goal as so provided therein shall be considered to be restrictions under the Plan. If vesting of an
Award of Restricted Units is intended to be service-based (whether solely service-based or service-based with performance acceleration), the Award’s service-based vesting period shall be at least three years, though vesting may occur ratably
over the course of such period (e.g. a three year service-based award may vest one-third on each of the first, second and third anniversaries of the Grant Date). 
  

 15 

 MASSEY ENERGY COMPANY 
 2006 STOCK AND INCENTIVE COMPENSATION PLAN 
 (as Amended and Restated Effective August 15, 2006) 

 

 9.3 Dividends and Other Distributions. Unless otherwise provided in the Agreement (which may
or may not provide for the current payment, or for the accumulation subject to the same restrictions, vesting, forfeiture and payment as the Restricted Units to which they are attributable, of dividends and other distributions made in cash or
property other than Shares), during the Period of Restriction, Participants holding Restricted Units shall have no rights to dividends and other distributions made in cash or property other than Shares which would have been paid with respect to the
Shares represented by those Restricted Units if such Shares were outstanding. Unless otherwise provided in the Agreement, if any deemed dividends or other distributions would be paid in Shares, such Shares shall be considered to increase the
Participant’s Restricted Units with respect to which they were declared based on one Share equaling one Restricted Unit. In addition, unless otherwise provided in the Agreement, during the Period of Restriction, any such deemed dividends and
other distributions for which rights are provided but which are not paid currently shall be deemed converted to additional Restricted Units based on the Fair Market Value of a Share on the date of payment or distribution of the deemed dividend or
distribution. If provided in the Agreement and if a Participant timely elects in accordance with the requirements for compliance with the nonqualified deferred compensation provisions of Section 409A of the Code, Participants may be given the
right to elect to receive or defer the payment of any such deemed dividends and other distributions until the Participant ceases employment or service with the Company and its Subsidiaries, until a specified time or until the Restricted Units to
which the dividends and other distributions relate vest. 
 9.4 Payment after Lapse of Restrictions. Subject to the provisions of the
Agreement, upon the lapse of restrictions with respect to a Restricted Unit, the Participant is entitled to receive, without any payment to the Company (other than applicable tax withholding when due), an amount equal to the product of multiplying
(i) the number of Shares with respect to which the restrictions lapse by (ii) the Fair Market Value per Share on the date the restrictions lapse (such amount, the “RU Value”). 
 The Agreement may provide for payment of the RU Value at the time of vesting or, on an elective or non-elective basis, for payment of the RU Value at a
later date, adjusted (if so provided in the Agreement) from the date of exercise based on an interest, dividend equivalent, earnings, or other basis (including deemed investment of the RU Value in Shares) set out in the Agreement (the “adjusted
RU Value”). The Committee is expressly authorized to grant Restricted Units which are deferred compensation covered by Section 409A of the Code, as well as Restricted Units which are not deferred compensation covered by Section 409A
of the Code. 
 Payment of the RU Value or adjusted RU Value to the Participant shall be made (i) in Shares, valued at the Fair Market
Value on the date or dates the restrictions on the Award lapse in the case of an immediate payment after vesting or at the Fair Market Value on the date of settlement in the event of an elective or non-elective delayed payment, (ii) in cash or
(iii) in a combination thereof as determined or permitted by the Committee, either at the time of the 
  

 16 

 MASSEY ENERGY COMPANY 
 2006 STOCK AND INCENTIVE COMPENSATION PLAN 
 (as Amended and Restated Effective August 15, 2006) 

 

 Award or, unless otherwise provided in the applicable Agreement, thereafter, and as provided in the Agreement. Any
payment in Shares shall be effected in book entry or electronic form, provided that issuance and delivery in certificated form shall occur if the Participant so requests in writing or the Committee so directs. 
 ARTICLE X 
 Unrestricted Stock

 Grant of Unrestricted Stock Awards. Subject to the terms and provisions of the Plan, the Committee, at any time and from time
to time, may grant Unrestricted Stock Awards under the Plan to one or more Members and Non-Employee Service Providers in such amount or amounts as it shall determine; provided, however, that no Participant may be granted Unrestricted Stock Awards in
any calendar year for more than 200,000 Shares and that the aggregate number of Shares that may be issued under the Plan as Unrestricted Stock Awards during the term of the Plan shall not exceed 5% of the Maximum Aggregate Number of Shares as
determined in Section 4.1. Participants receiving Unrestricted Stock Awards are not required to pay the Company therefor (except for applicable tax withholding when due). Payment of a Unrestricted Stock Award shall be effected as soon as
practicable after the Award Date in book entry or electronic form, provided that issuance and delivery in certificated form shall occur if the Participant so requests in writing or the Committee so directs. 
 Notwithstanding anything to the contrary in the foregoing, the Committee is expressly authorized to make Awards of Unrestricted Stock based on a
Member’s, Non-Employee Service Provider’s or Non-Employee Director’s acquisition and/or holding of Stock (including for this purpose any deemed investment in Stock) in his individual capacity or under any nonqualified deferred
compensation plan or tax qualified plan (if permissible under applicable qualification rules of the Code) maintained by the Company or a Subsidiary. 
 ARTICLE XI 
 Incentive Awards 
 11.1 Incentive Award. Subject to the terms and conditions of the Plan, Incentive Awards may be granted to Members and Non-Employee Service Providers at any time and from time to time as shall be determined by
the Committee. Each Incentive Award will confer upon the Participant the opportunity to earn a future payment tied to the level of achievement with respect to one or more performance criteria established for a performance period of not less than one
year. Each Incentive Award shall contain provisions regarding (i) the target, minimum and maximum amounts payable to the Participant as an Incentive Award, (ii) the performance criteria and level of achievement versus these criteria which
shall determine the amount of such payment, (iii) the period as to which performance shall be measured for establishing the amount of any payment, (iv) the timing of any payment earned by virtue of performance, (v) restrictions on the
alienation or transfer of the Incentive Award prior to actual payment, (vi) forfeiture provisions, (vii) immediate vesting provisions, and (viii) such further terms and conditions, in each case not inconsistent with the Plan as may be
determined from time to time by the 
  

 17 

 MASSEY ENERGY COMPANY 
 2006 STOCK AND INCENTIVE COMPENSATION PLAN 
 (as Amended and Restated Effective August 15, 2006) 

 

 Committee. In establishing the provisions of Incentive Awards, the Committee may refer to categories of such Awards
as parts of a subplan or a “Program” under the Plan, which names will not affect the applicability of this Plan. The maximum amount payable as an Incentive Award may be a multiple of the target amount payable, but the total of the maximum
amount payable pursuant to that portion of an Incentive Award granted under this Plan for any fiscal year to any Participant that is intended to satisfy the requirements for “performance based compensation” under Section 162(m) of the
Code and that portion of an Incentive Award granted under this Plan for any fiscal year that is not intended to satisfy the requirements for “performance based compensation” under Section 162(m) of the Code shall not exceed
$10,000,000. 
 11.2 Performance Criteria. The Committee shall establish the performance criteria and level of achievement versus the
criteria which shall determine the target and the minimum and the maximum amounts payable under an Incentive Award, which criteria may be based on financial performance and/or personal performance evaluations. The Committee may specify the
percentage of the target Incentive Award that is intended to satisfy the requirements for “performance-based compensation” under Section 162(m) of the Code. Notwithstanding anything to the contrary herein, the performance criteria for
any portion of an Incentive Award that is intended by the Committee to satisfy the requirements for “performance-based compensation” under Section 162(m) of the Code shall be a measure based on one or more Performance Goals selected
by the Committee and specified at the time required under Section 162(m) of the Code. 
 11.3 Timing and Form of Payment. The
Committee shall determine the timing of payment of any Incentive Award. The Committee may provide for or, subject to such terms and conditions as the Committee may specify in the Incentive Award Agreement and subject to the requirements of
Section 409A of the Code, may permit a Participant to elect for the payment of any Incentive Award to be deferred to a specified date or dates or to an event. Payment of the amount to which a Participant shall be entitled upon the settlement of
an Incentive Award shall be made in cash, Shares, property or a combination thereof as determined by the Committee. Payment may be made in a lump sum or installments as determined or permitted by the Committee in the Incentive Award Agreement.
Payment may be made (i) in Shares, valued at the Fair Market Value on the date of settlement, (ii) in cash or (iii) in a combination thereof as determined or permitted by the Committee, either at the time of the Award or, unless
otherwise provided in the applicable Agreement, thereafter, and as provided in the Agreement. Any payment in Shares shall be effected in book entry or electronic form, provided that issuance and delivery in certificated form shall occur if the
Participant so requests in writing or the Committee so directs. 
 11.4 Restrictions on Stock Transferability. The Committee may
impose such restrictions on any Shares acquired in connection with the settlement of an Incentive Award under the Plan as it may deem advisable, including, without limitation, restrictions under applicable Federal securities law, under the
requirements of the New York Stock Exchange or any stock exchange upon which such Shares are then listed and under any blue sky or state securities laws applicable to such Shares. In the event the Committee so provides in an 
  

 18 

 MASSEY ENERGY COMPANY 
 2006 STOCK AND INCENTIVE COMPENSATION PLAN 
 (as Amended and Restated Effective August 15, 2006) 

 

 Agreement pertaining to Incentive Award, Stock delivered connection with the settlement of an Incentive Award may be
designated as Restricted Stock or Stock subject to a buyback right by the Company on such basis as the Committee may provide in the event the Participant does not complete a specified service period after vesting in the Award. 
 11.5 Discretionary Adjustments. Notwithstanding satisfaction of any performance goals, the amount paid under an Incentive Award on account of
either financial performance or personal performance evaluations may be reduced by the Committee on the basis of such further considerations as the Committee in its sole discretion shall determine. 
 ARTICLE XII 
 Change in Control

 In the event of a Change in Control of the Company, the Committee, as constituted before such Change in Control, in its sole
discretion may, as to any outstanding Award, either at the time the Award is made or any time thereafter, take any one or more of the following actions: (i) provide for the acceleration of any time periods relating to the exercise or
realization of any such Award so that such Award may be exercised or realized in full on or before a date initially fixed by the Committee; (ii) provide for the purchase or settlement of any such Award by the Company, with or without a
Participant’s request, for an amount of cash equal to the amount which could have been obtained upon the exercise of such Award or realization of such Participant’s rights had such Award been currently exercisable or payable;
(iii) make such adjustment to any such Award then outstanding as the Committee deems appropriate to reflect such Change in Control; or (iv) cause any such Award then outstanding to be assumed, or new rights substituted therefor, by the
acquiring or surviving corporation in such Change in Control. 
 ARTICLE XIII 
 Modification, Extension and Renewal of Awards 
 Subject to the terms and
conditions and within the limitations of the Plan, the Committee may modify, extend or renew outstanding Awards and may modify the terms of an outstanding Agreement; provided that the exercise price of any Award may not be lowered other than
pursuant to Section 4.4 herein. In addition, the Committee may accept the surrender of outstanding Awards granted under the Plan or outstanding awards granted under any other equity compensation plan of the Company and authorize the granting of
new Awards pursuant to the Plan in substitution therefor so long as the new or substituted awards do not specify a lower exercise price or Base Value than the surrendered Awards or awards and are not of a different type (with Options and SARs being
one type and thus not eligible to be exchanged for any Award other than Options or SARs), and otherwise the new Awards may specify a longer term than the surrendered Awards or awards, may provide for more rapid vesting and exercisability than the
surrendered Awards or awards, and may contain any other provisions that are authorized by the Plan. Notwithstanding the foregoing, however, no modification of an Award, shall, without the consent of the Participant, adversely affect the rights or
obligations of the Participant. 
  

 19 

 MASSEY ENERGY COMPANY 
 2006 STOCK AND INCENTIVE COMPENSATION PLAN 
 (as Amended and Restated Effective August 15, 2006) 

 

 ARTICLE XIV 
 Amendment, Modification and Termination of the Plan 
 14.1 Amendment, Modification and
Termination. At any time and from time to time, the Board may terminate, amend, or modify the Plan. Such amendment or modification may be without shareholder approval except to the extent that such approval is required by the Code, pursuant to
the rules under Section 16 of the Exchange Act, by any national securities exchange or system on which the Stock is then listed or reported, by any regulatory body having jurisdiction with respect thereto or under any other applicable laws,
rules or regulations. 
 14.2 Awards Previously Granted. No termination, amendment or modification of the Plan herein shall in any
manner adversely affect any Award theretofore granted under the Plan, without the written consent of the Participant. 
 ARTICLE XV

 Withholding 
 15.1
Tax Withholding. The Company shall have the power and the right to deduct or withhold, or require a Participant to remit to the Company, an amount sufficient to satisfy Federal, State and local taxes (including the Participant’s FICA
obligation) required by law to be withheld with respect to any grant, exercise, or payment made under or as a result of the Plan or any Agreement. 
 15.2 Stock Withholding. With respect to withholding required upon the exercise of Non-Qualified Stock Options, or upon the lapse of restrictions on Restricted Stock, or upon the occurrence of any other taxable event with respect to
any Award, Participants may elect, subject to the approval of the Committee, or the Committee may require Participants to satisfy the withholding requirement, in whole or in part, by having the Company withhold Shares of Stock having a Fair Market
Value equal to the amount required to be withheld. The value of the Shares to be withheld shall be based on the Fair Market Value of the Shares on the date that the amount of tax to be withheld is to be determined. All elections by Participants
shall be irrevocable and be made in writing and in such manner as determined by the Committee in advance of the day that the transaction becomes taxable. 
 ARTICLE XVI 
 Successors 
 All obligations of the Company under the Plan, with respect to Awards granted hereunder, shall be binding on any successor to the Company, whether the
existence of such successor is the result of a direct or indirect purchase, merger, consolidation or otherwise, of all or substantially all of the business and/or assets of the Company. 
  

 20 

 MASSEY ENERGY COMPANY 
 2006 STOCK AND INCENTIVE COMPENSATION PLAN 
 (as Amended and Restated Effective August 15, 2006) 

 

 ARTICLE XVII 
 General 
 17.1 Requirements of Law. The granting of Awards and the issuance of Shares of Stock
under the Plan shall be subject to all applicable laws, rules, and regulations, and to such approvals by any governmental agencies or self-regulatory organizations as may be required. 
 17.2 Effect of the Plan. The establishment of the Plan shall not confer upon any Member, Non-Employee Service Provider or Non-Employee Director
any legal or equitable right against the Company, a Subsidiary or the Committee, except as expressly provided in the Plan. The Plan does not constitute an inducement or consideration for the employment or service of any Member, Non-Employee Service
Provider or Non-Employee Director, nor is it a contract between the Company or any of its Subsidiaries and any Member, Non-Employee Service Provider or Non-Employee Director. Participation in the Plan shall not give any Member, Non-Employee Service
Provider or Non-Employee Director any right to be retained in the service of the Company or any of its Subsidiaries. Except as may be otherwise expressly provide in the Plan or in an Agreement, no Member, Non-Employee Service Provider or
Non-Employee Director who receives an Award shall have rights as a shareholder of the Company prior to the date Shares are issued to the Participant pursuant to the Plan, regardless of whether such Shares are held in book entry or electronic form or
in certificated form. 
 17.3 Creditors. The interests of any Participant under the Plan or any Agreement are not subject to the
claims of creditors and may not, in any way, be assigned, alienated or encumbered. 
 17.4 Governing Law. The Plan, and all Agreements
hereunder, shall be governed, construed and administered in accordance with and governed by the laws of the State of Delaware and applicable federal law. The Committee may provide that any dispute as to any Award shall be presented and determined in
such forum as the Committee may specify, including through binding arbitration. Any reference in this Plan or in an Agreement evidencing any Award to a provision of law or to a rule or regulation shall be deemed to include any successor law, rule or
regulation of similar effect or applicability. 
 17.5 Conflicts between the Plan and an Agreement. In the event of a conflict between
the Plan and an Agreement, the terms of the Plan shall control. 
 17.6 Severability. In the event any provision of the Plan shall be
held illegal or invalid for any reason, the illegality or invalidity shall not affect the remaining parts of the Plan, and the Plan shall be construed and enforced as if the illegal or invalid provision had not been included. 
 17.7 Unfunded Status of Plan. The Plan is intended to constitute an “unfunded” plan for incentive and deferred compensation. With
respect to any payments as to which a Participant has a fixed and vested interest but which are not yet made to a Participant by the Company, nothing contained herein shall give any such Participant any rights that are greater than those of a
general unsecured creditor of the Company. 
  

 21 

 MASSEY ENERGY COMPANY 
 2006 STOCK AND INCENTIVE COMPENSATION PLAN 
 (as Amended and Restated Effective August 15, 2006) 

 

 17.8 Transferability. Except for family transfers authorized in this Section (but only if the
Agreement evidencing an Award, or an amendment thereto authorized by the Committee, expressly states that it is transferable as provided herein), no Award granted under the Plan, nor any interest in such Award, may be sold, assigned, conveyed,
gifted, pledged, hypothecated or otherwise transferred in any manner, other than by will or the laws of descent and distribution, prior to the vesting or lapse of any and all restrictions applicable to any Shares issued under an Award. The Committee
may in its sole discretion grant an Award (other than an ISO) or amend an outstanding Award (other than an ISO) to provide that the Award is transferable or assignable to a member or members of the Participant’s “immediate family,” as
such term is defined under Exchange Act Rule 16a-l(e), or to a trust for the benefit solely of a member or members of the Participant’s immediate family, or to a partnership or other entity whose only owners are members of the
Participant’s family; provided that following any such transfer or assignment the Award will remain subject to substantially the same terms applicable to the Award while held by the Participant, as modified as the Committee in its sole
discretion shall determine appropriate, and the Participant shall execute an agreement agreeing to be bound by such terms. 
 17.9
Termination of Employment or Service. Unless otherwise provided in the Agreement pertaining to an Award, in the event that a Participant terminates his employment or service with the Company and its Subsidiaries for any reason, then the
unvested portion of such Award shall automatically be forfeited to, and be acquired at no cost by, the Company. Unless otherwise provided in the Agreement pertaining to an Award, in determining cessation of employment or service, transfers between
the Company and/or any Subsidiary shall be disregarded, and changes in status between that of a Member, a Non-Employee Service Provider and a Non-Employee Director shall be disregarded. The Committee may provide in an Agreement made under the Plan
for vesting of Awards in connection with the termination of a Participant’s employment or service on such basis as it deems appropriate, including, without limitation, any provisions for vesting at death, disability, retirement or in connection
with a Change in Control with or without the further consent of the Committee. The Agreements evidencing Awards may contain such provisions as the Committee may approve with reference to the effect of approved leaves of absence. 
 17.10 Registration and Other Laws And Regulations. The Plan, the grant and exercise of Awards hereunder, and the obligation of the Company to
sell, issue or deliver Shares under such Awards, shall be subject to all applicable federal, state and foreign laws, rules and regulations and to such approvals by any governmental or regulatory agency as may be required. The Company shall not be
required to register in a Participant’s name or deliver any Shares prior to the completion of any registration or qualification of such Shares under any federal, state or foreign law or any ruling or regulation of any government body which the
Committee shall, in its sole discretion, determine to be necessary or advisable. 
  

 22 

 MASSEY ENERGY COMPANY 
 2006 STOCK AND INCENTIVE COMPENSATION PLAN 
 (as Amended and Restated Effective August 15, 2006) 

 

 No Option shall be exercisable unless a registration statement with respect to the Option is
effective or the Company has determined that such registration is unnecessary. Unless the Awards and Shares covered by the Plan have been registered under the Securities Act of 1933, as amended, or the Company has determined that such registration
is unnecessary, each person receiving an Award and/or Shares pursuant to any Award may be required by the Company to give a representation in writing that such person is acquiring such Shares for his or her own account for investment and not with a
view to, or for sale in connection with, the distribution of any party thereof. 
 17.11 Beneficiary Designation. Each Participant
shall have the right to notify the Committee in writing in a form acceptable to the Committee of any designation of a successor in interest (a “Beneficiary”) to receive, if alive, benefits under the Plan or, if permitted by the Committee,
with respect to any Award in the event of his death. Such designation may be changed from time to time by notice in writing to the Committee in a form acceptable to the Committee. If a Participant dies without having designated a Beneficiary, or if
the Beneficiary so designated has predeceased the Participant or cannot be located by the Committee within one year after the date when the Committee commenced making a reasonable effort to locate such Beneficiary, then the executor or the
administrator of the Participant’s estate shall be deemed to be his Beneficiary. Any Beneficiary designation may include multiple, contingent or successive Beneficiaries and may specify the proportionate distribution to each Beneficiary. If a
Beneficiary shall survive the Participant, but shall die before the entire benefit payable to such Beneficiary has been distributed, then absent any other provision by the Participant, the unpaid amount of such benefit shall be distributed to the
estate of the deceased Beneficiary. If multiple Beneficiaries are designated, absent provisions by the Participant, those named or the survivors of them shall share equally any benefits payable under the Plan. Any Beneficiary, including the
Participant’s spouse, shall be entitled to disclaim any benefit otherwise payable to him under the Plan. 
 17.12 Nonqualified
Deferred Compensation Plan Omnibus Provision. It is intended that any compensation, benefits or other remuneration which is provided pursuant to or in connection with the Plan 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. The Committee is authorized to amend any Agreement and to amend or declare void any election by a Participant as may be determined by it to be necessary or appropriate to evidence or further evidence required compliance with
Section 409A of the Code. 
  

 23

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