Document:

EX-10.5

 Exhibit 10.5 

FORM OF 
 DIRECTOR AND
OFFICER INDEMNIFICATION AGREEMENT 
 Peabody Energy Corporation (“Peabody”) entered into an Indemnification Agreement
identical to the form attached hereto with each of the following Peabody directors and executive officers on the dates indicated: 
  

			
	 Date
	  	 Name

	04/03/2017	  	Glenn L. Kellow
	04/03/2017	  	A. Verona Dorch
	04/03/2017	  	Charles Meintjes
	04/03/2017	  	Amy Schwetz
	04/03/2017	  	George Schuller
	04/03/2017	  	Kemal Williamson

  
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 INDEMNIFICATION AGREEMENT 

This Indemnification Agreement, dated as of
[                    ], is made by and between PEABODY ENERGY CORPORATION, a Delaware corporation (the “Corporation”) and
[                    ] (the “Indemnitee”). 

RECITALS 

A.    The Corporation recognizes that competent and experienced persons are increasingly reluctant to serve or to continue
to serve as directors or officers of corporations unless they are protected by comprehensive liability insurance or indemnification, or both, due to increased exposure to litigation costs and risks resulting from their service to such corporations,
and due to the fact that the exposure frequently bears no reasonable relationship to the compensation of such directors and officers; 

B.    The statutes and judicial decisions regarding the duties of directors and officers are often difficult to apply,
ambiguous, or conflicting, and therefore fail to provide such directors and officers with adequate, reliable knowledge of legal risks to which they are exposed or information regarding the proper course of action to take; 

C.    The Corporation and Indemnitee recognize that plaintiffs often seek damages in such large amounts and the costs of
litigation may be so enormous (whether or not the case is meritorious), that the defense and/or settlement of such litigation is often beyond the personal resources of directors and officers; 

D.    The Corporation believes that it is unfair for its directors and officers to assume the risk of huge judgments and
other expenses which may occur in cases in which the director or officer received no personal profit and in cases where the director or officer was not culpable; 

E.    The Corporation, after reasonable investigation, has determined that the liability insurance coverage presently
available to the Corporation may be inadequate in certain circumstances to cover all possible exposure for which Indemnitee should be protected. The Corporation believes that the interests of the Corporation and its stockholders would best be served
by a combination of such insurance and the indemnification by the Corporation of the directors and officers of the Corporation; 

F.    The Corporation’s Fourth Amended and Restated Certificate of Incorporation (the “Certificate of
Incorporation”) and Amended and Restated By-Laws require the Corporation to indemnify its directors and officers to the fullest extent permitted by the Delaware General Corporation Law (the
“DGCL”). The Certificate of Incorporation expressly provides that the indemnification provisions set forth therein are not exclusive, and contemplates that contracts may be entered into between the Corporation and its directors and
officers with respect to indemnification; 
 G.    Section 145 of the DGCL (“Section 145”), under which
the Corporation is organized, empowers the Corporation to indemnify its officers, directors, employees and agents by agreement and to indemnify persons who serve, at the request of the Corporation, as the directors, officers, employees or agents of
other corporations or enterprises, and expressly provides that the indemnification provided by Section 145 is not exclusive; 

  
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 H.    The Board of Directors has determined that contractual indemnification
as set forth herein is not only reasonable and prudent but also promotes the best interests of the Corporation and its stockholders; 

I.    The Corporation desires and has requested Indemnitee to serve or continue to serve as a director or officer of the
Corporation free from undue concern for unwarranted claims for damages arising out of or related to such services to the Corporation; and 

J.    Indemnitee is willing to serve, continue to serve or to provide additional service for or on behalf of the
Corporation on the condition that he is furnished the indemnity provided for herein. 
 AGREEMENT 

NOW, THEREFORE, in consideration of the mutual covenants and agreements set forth below, and other good and valuable consideration, the
receipt and adequacy of which are hereby acknowledged, the parties hereto, intending to be legally bound, hereby agree as follows: 

Section 1.    Generally. 

To the fullest extent permitted by the laws of the State of Delaware: 

(a)    The Corporation shall indemnify Indemnitee if Indemnitee was or is a party or is threatened to be made a party to
any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative or investigative, by reason of the fact that Indemnitee is or was or has agreed to serve at the request of the Corporation as a director,
officer, employee or agent of the Corporation, or while serving as a director or officer of the Corporation, is or was serving or has agreed to serve at the request of the Corporation as a director, officer, employee or agent (which, for purposes
hereof, shall include a trustee, partner or manager or similar capacity) of another corporation, partnership, joint venture, trust, employee benefit plan or other enterprise, or by reason of any action alleged to have been taken or omitted in such
capacity. 
 (b)    The indemnification provided by this Section 1 shall be from and against expenses (including
attorneys’ fees), judgments, fines and amounts paid in settlement actually and reasonably incurred by Indemnitee or on Indemnitee’s behalf in connection with such action, suit or proceeding and any appeal therefrom, but shall only be
provided if Indemnitee acted in good faith and in a manner Indemnitee reasonably believed to be in or not opposed to the best interests of the Corporation, and, with respect to any criminal action, suit or proceeding, had no reasonable cause to
believe Indemnitee’s conduct was unlawful. 
 (c)    Notwithstanding the foregoing provisions of this
Section 1, in the case of any threatened, pending or completed action or suit by or in the right of the Corporation to procure a judgment in its favor by reason of the fact that Indemnitee is or was a director, officer, employee or agent of the
Corporation, or while serving as a director or officer of the Corporation, is or was serving or has agreed to serve at the request of the Corporation as a director, officer, employee or 

  
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agent of another corporation, partnership, joint venture, trust, employee benefit plan or other enterprise, no indemnification shall be made in respect of any claim, issue or matter as to which
Indemnitee shall have been adjudged to be liable to the Corporation unless, and only to the extent that, the Delaware Court of Chancery or the court in which such action or suit was brought shall determine upon application that, despite the
adjudication of liability but in view of all the circumstances of the case, Indemnitee is fairly and reasonably entitled to indemnity for such expenses which the Delaware Court of Chancery or such other court shall deem proper. 

(d)    The termination of any action, suit or proceeding by judgment, order, settlement, conviction, or upon a plea of
nolo contendere or its equivalent, shall not, of itself, create a presumption that Indemnitee did not act in good faith and in a manner which Indemnitee reasonably believed to be in or not opposed to the best interests of the Corporation, and, with
respect to any criminal action or proceeding, had reasonable cause to believe that Indemnitee’s conduct was unlawful. 

Section 2.    Successful Defense; Partial Indemnification. To the extent that Indemnitee has been successful
on the merits or otherwise in defense of any action, suit or proceeding referred to in Section 1 hereof or in defense of any claim, issue or matter therein, Indemnitee shall be indemnified against expenses (including attorneys’ fees)
actually and reasonably incurred in connection therewith. For purposes of this Agreement and without limiting the foregoing, if any action, suit or proceeding is disposed of, on the merits or otherwise (including a disposition without prejudice),
without (i) the disposition being adverse to Indemnitee, (ii) an adjudication that Indemnitee was liable to the Corporation, (iii) a plea of guilty or nolo contendere by Indemnitee, (iv) an adjudication that Indemnitee did not
act in good faith and in a manner Indemnitee reasonably believed to be in or not opposed to the best interests of the Corporation, and (v) with respect to any criminal proceeding, an adjudication that Indemnitee had reasonable cause to believe
Indemnitee’s conduct was unlawful, Indemnitee shall be considered for the purposes hereof to have been wholly successful with respect thereto. 

If Indemnitee is entitled under any provision of this Agreement to indemnification by the Corporation for some or a portion of the expenses
(including attorneys’ fees), judgments, fines or amounts paid in settlement actually and reasonably incurred by Indemnitee or on Indemnitee’s behalf in connection with any action, suit, proceeding or investigation, or in defense of any
claim, issue or matter therein, and any appeal therefrom but not, however, for the total amount thereof, the Corporation shall nevertheless indemnify Indemnitee for the portion of such expenses (including attorneys’ fees), judgments, fines or
amounts paid in settlement to which Indemnitee is entitled. 
 Section 3.    Determination That Indemnification
Is Proper. Any indemnification hereunder shall (unless otherwise ordered by a court) be made by the Corporation unless a determination is made that indemnification of such person is not proper in the circumstances because he or she has not met
the applicable standard of conduct set forth in Section 1(b) hereof. Any such determination shall be made (i) by a majority vote of the directors who are not parties to the action, suit or proceeding in question (“disinterested
directors”), even if less than a quorum, (ii) by a majority vote of a committee of disinterested directors designated by majority vote of disinterested directors, even if less than a quorum, (iii) by a majority vote of a quorum of the
outstanding shares of stock of all classes entitled to vote on the matter, voting as a single class, which quorum shall consist of stockholders who are not at that time parties to the action, suit or proceeding in question, (iv) by independent
legal counsel, or (v) by a court of competent jurisdiction. 

  
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 Section 4.    Advance Payment of Expenses; Notification and Defense
of Claim. 
 (a)    Expenses (including attorneys’ fees) incurred by Indemnitee in defending a threatened or
pending civil, criminal, administrative or investigative action, suit or proceeding shall be paid by the Corporation in advance of the final disposition of such action, suit or proceeding within twenty (20) days after receipt by the Corporation
of (i) a statement or statements from Indemnitee requesting such advance or advances from time to time, and (ii) an undertaking by or on behalf of Indemnitee to repay such amount or amounts, only if, and to the extent that, it shall
ultimately be determined that Indemnitee is not entitled to be indemnified by the Corporation as authorized by this Agreement or otherwise. Such undertaking shall be accepted without reference to the financial ability of Indemnitee to make such
repayment. Advances shall be unsecured and interest-free. 
 (b)    Promptly after receipt by Indemnitee of notice of
the commencement of any action, suit or proceeding, Indemnitee shall, if a claim thereof is to be made against the Corporation hereunder, notify the Corporation of the commencement thereof. The failure to promptly notify the Corporation of the
commencement of the action, suit or proceeding, or Indemnitee’s request for indemnification, will not relieve the Corporation from any liability that it may have to Indemnitee hereunder, except to the extent the Corporation is prejudiced in its
defense of such action, suit or proceeding as a result of such failure. 
 (c)    In the event the Corporation shall be
obligated to pay the expenses of Indemnitee with respect to an action, suit or proceeding, as provided in this Agreement, the Corporation, if appropriate, shall be entitled to assume the defense of such action, suit or proceeding, with counsel
reasonably acceptable to Indemnitee, upon the delivery to Indemnitee of written notice of its election to do so. After delivery of such notice, approval of such counsel by Indemnitee and the retention of such counsel by the Corporation, the
Corporation will not be liable to Indemnitee under this Agreement for any fees of counsel subsequently incurred by Indemnitee with respect to the same action, suit or proceeding, provided that (1) Indemnitee shall have the right to employ
Indemnitee’s own counsel in such action, suit or proceeding at Indemnitee’s expense and (2) if (i) the employment of counsel by Indemnitee has been previously authorized in writing by the Corporation, (ii) counsel to the
Corporation or Indemnitee shall have reasonably concluded that there may be a conflict of interest or position, or reasonably believes that a conflict is likely to arise, on any significant issue between the Corporation and Indemnitee in the conduct
of any such defense or (iii) the Corporation shall not, in fact, have employed counsel to assume the defense of such action, suit or proceeding, then the fees and expenses of Indemnitee’s counsel shall be at the expense of the Corporation,
except as otherwise expressly provided by this Agreement. The Corporation shall not be entitled, without the consent of Indemnitee, to assume the defense of any claim brought by or in the right of the Corporation or as to which counsel for the
Corporation shall have reasonably made the conclusion provided for in clause (ii) above. 

  
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 (d)    Notwithstanding any other provision of this Agreement to the contrary,
to the extent that Indemnitee is, by reason of Indemnitee’s corporate status with respect to the Corporation or any corporation, partnership, joint venture, trust, employee benefit plan or other enterprise which Indemnitee is or was serving or
has agreed to serve at the request of the Corporation, a witness or otherwise participates in any action, suit or proceeding at a time when Indemnitee is not a party in the action, suit or proceeding, the Corporation shall indemnify Indemnitee
against all expenses (including attorneys’ fees) actually and reasonably incurred by Indemnitee or on Indemnitee’s behalf in connection therewith. 

Section 5.    Procedure for Indemnification. 

(a)    To obtain indemnification, Indemnitee shall promptly submit to the Corporation a written request, including therein
or therewith such documentation and information as is reasonably available to Indemnitee and is reasonably necessary to determine whether and to what extent Indemnitee is entitled to indemnification. The Corporation shall, promptly upon receipt of
such a request for indemnification, advise the Board of Directors in writing that Indemnitee has requested indemnification. 

(b)    The Corporation’s determination whether to grant Indemnitee’s indemnification request shall be made
promptly, and in any event within 60 days following receipt of a request for indemnification pursuant to Section 5(a). The right to indemnification as granted by Section 1 of this Agreement shall be enforceable by Indemnitee in any court of
competent jurisdiction if the Corporation denies such request, in whole or in part, or fails to respond within such 60-day period. It shall be a defense to any such action (other than an action brought to
enforce a claim for the advance of costs, charges and expenses under Section 4 hereof where the required undertaking, if any, has been received by the Corporation) that Indemnitee has not met the standard of conduct set forth in Section 1
hereof, but the burden of proving such defense by clear and convincing evidence shall be on the Corporation. Neither the failure of the Corporation (including its Board of Directors or one of its committees, its independent legal counsel, and its
stockholders) to have made a determination prior to the commencement of such action that indemnification of Indemnitee is proper in the circumstances because Indemnitee has met the applicable standard of conduct set forth in Section 1 hereof,
nor the fact that there has been an actual determination by the Corporation (including its Board of Directors or one of its committees, its independent legal counsel, and its stockholders) that Indemnitee has not met such applicable standard of
conduct, shall be a defense to the action or create a presumption that Indemnitee has or has not met the applicable standard of conduct. The Indemnitee’s expenses (including attorneys’ fees) incurred in connection with successfully
establishing Indemnitee’s right to indemnification, in whole or in part, in any such proceeding or otherwise shall also be indemnified by the Corporation. 

(c)    The Indemnitee shall be presumed to be entitled to indemnification under this Agreement upon submission of a
request for indemnification pursuant to this Section 5, and the Corporation shall have the burden of proof in overcoming that presumption in reaching a determination contrary to that presumption. Such presumption shall be used as a basis for a
determination of entitlement to indemnification unless the Corporation overcomes such presumption by clear and convincing evidence. 

  
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 Section 6.    Insurance and Subrogation. 

(a)    The Corporation may purchase and maintain insurance on behalf of Indemnitee who is or was or has agreed to serve at
the request of the Corporation as a director or officer of the Corporation, or is or was serving at the request of the Corporation as a director, officer, employee or agent of another corporation, partnership, joint venture, trust, employee benefit
plan or other enterprise against any liability asserted against, and incurred by, Indemnitee or on Indemnitee’s behalf in any such capacity, or arising out of Indemnitee’s status as such, whether or not the Corporation would have the power
to indemnify Indemnitee against such liability under the provisions of this Agreement. If the Corporation has such insurance in effect at the time the Corporation receives from Indemnitee any notice of the commencement of a proceeding, the
Corporation shall give prompt notice of the commencement of such proceeding to the insurers in accordance with the procedures set forth in the policy. The Corporation shall thereafter take all necessary or desirable action to cause such insurers to
pay, on behalf of the Indemnitee, all amounts payable as a result of such proceeding in accordance with the terms of such policy. 

(b)    In the event of any payment by the Corporation under this Agreement, the Corporation shall be subrogated to the
extent of such payment to all of the rights of recovery of Indemnitee with respect to any insurance policy, who shall execute all papers required and take all action necessary to secure such rights, including execution of such documents as are
necessary to enable the Corporation to bring suit to enforce such rights in accordance with the terms of such insurance policy. The Corporation shall pay or reimburse all expenses actually and reasonably incurred by Indemnitee in connection with
such subrogation. 
 (c)    The Corporation shall not be liable under this Agreement to make any payment of amounts
otherwise indemnifiable hereunder (including, but not limited to, judgments, fines, ERISA excise taxes or penalties, and amounts paid in settlement) if and to the extent that Indemnitee has otherwise actually received such payment under this
Agreement or any insurance policy, contract, agreement or otherwise. 
 Section 7.    Certain Definitions.
For purposes of this Agreement, the following definitions shall apply: 
 (a)    The term “action, suit or
proceeding” shall be broadly construed and shall include, without limitation, the investigation, preparation, prosecution, defense, settlement, arbitration and appeal of, and the giving of testimony in, any threatened, pending or completed
claim, action, suit or proceeding, whether civil, criminal, administrative or investigative. 
 (b)    The term “by
reason of the fact that Indemnitee is or was a director, officer, employee or agent of the Corporation, or while serving as a director or officer of the Corporation, is or was serving or has agreed to serve at the request of the Corporation as a
director, officer, employee or agent of another corporation, partnership, joint venture, trust, employee benefit plan or other enterprise” shall be broadly construed and shall include, without limitation, any actual or alleged act or omission
to act. 

  
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 (c)    The term “expenses” shall be broadly and reasonably
construed and shall include, without limitation, all direct and indirect costs of any type or nature whatsoever (including, without limitation, all attorneys’ fees and related disbursements, appeal bonds, other out-of-pocket costs and reasonable compensation for time spent by Indemnitee for which Indemnitee is not otherwise compensated by the Corporation or any third party, provided that the rate of compensation and
estimated time involved is approved by the Board, which approval shall not be unreasonably withheld), actually and reasonably incurred by Indemnitee in connection with either the investigation, defense or appeal of a proceeding or establishing or
enforcing a right to indemnification under this Agreement, Section 145 of the General Corporation Law of the State of Delaware or otherwise. 

(d)    The term “judgments, fines and amounts paid in settlement” shall be broadly construed and shall include,
without limitation, all direct and indirect payments of any type or nature whatsoever (including, without limitation, all penalties and amounts required to be forfeited or reimbursed to the Corporation, as well as any penalties or excise taxes
assessed on a person with respect to an employee benefit plan). 
 (e)    The term “Corporation” shall
include, without limitation and in addition to the resulting corporation, any constituent corporation (including any constituent of a constituent) absorbed in a consolidation or merger which, if its separate existence had continued, would have had
power and authority to indemnify its directors, officers, and employees or agents, so that any person who is or was a director, officer, employee or agent of such constituent corporation, or is or was serving at the request of such constituent
corporation as a director, officer, employee or agent of another corporation, partnership, joint venture, trust, employee benefit plan or other enterprise, shall stand in the same position under the provisions of this Agreement with respect to the
resulting or surviving corporation as he or she would have with respect to such constituent corporation if its separate existence had continued. 

(f)    The term “other enterprises” shall include, without limitation, employee benefit plans. 

(g)    The term “serving at the request of the Corporation” shall include, without limitation, any service as a
director, officer, employee or agent of the Corporation which imposes duties on, or involves services by, such director, officer, employee or agent with respect to an employee benefit plan, its participants or beneficiaries. 

(h)    The term “independent legal counsel” shall mean a law firm, or a member of a law firm, that is
experienced in matters of corporation law and neither presently is, nor in the past three years has been, retained to represent: (i) the Corporation or Indemnitee in any matter material to either such party (other than with respect to matters
concerning Indemnitee under this Agreement, or of other indemnitees under similar indemnification agreements) unless, in the case of the Corporation, the Indemnitee consents to the Corporation’s use of such legal counsel, or (ii) any other
named (or, as to a threatened matter, reasonably likely to be named) party to the action, suit or proceeding giving rise to a claim for indemnification hereunder, other than the Indemnitees of the Corporation. Notwithstanding the foregoing, the term
“independent legal counsel” shall not include any person who, under the applicable standards of professional conduct then prevailing, would have a conflict of interest in representing either the Corporation or Indemnitee in an action to
determine Indemnitee’s rights under this Agreement. 

  
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 (i)    A person who acted in good faith and in a manner such person
reasonably believed to be in the interest of the participants and beneficiaries of an employee benefit plan shall be deemed to have acted in a manner “not opposed to the best interests of the Corporation” as referred to in this Agreement.

 Section 8.    Limitation on Indemnification. Notwithstanding any other provision herein to the contrary,
the Corporation shall not be obligated pursuant to this Agreement: 
 (a)    Claims Initiated by Indemnitee. To
indemnify or advance expenses to Indemnitee with respect to an action, suit or proceeding (or part thereof) initiated by Indemnitee, except with respect to an action, suit or proceeding brought to establish or enforce a right to indemnification
(which shall be governed by the provisions of Section 8(b) of this Agreement), unless such action, suit or proceeding (or part thereof) was authorized or consented to by the Board of Directors of the Corporation. 

(b)    Action for Indemnification. To indemnify Indemnitee for any expenses incurred by Indemnitee with respect to
any action, suit or proceeding instituted by Indemnitee to enforce or interpret this Agreement, unless Indemnitee is successful in establishing Indemnitee’s right to indemnification in such action, suit or proceeding, in whole or in part, or
unless and to the extent that the court in such action, suit or proceeding shall determine that, despite Indemnitee’s failure to establish their right to indemnification, Indemnitee is entitled to indemnity for such expenses; provided, however,
that nothing in this Section 8(b) is intended to limit the Corporation’s obligation with respect to the advancement of expenses to Indemnitee in connection with any such action, suit or proceeding instituted by Indemnitee to enforce or
interpret this Agreement, as provided in Section 4 hereof. 
 (c)    Section 16 Violations. To indemnify
Indemnitee on account of any proceeding with respect to which final judgment is rendered against Indemnitee for payment or an accounting of profits arising from the purchase or sale by Indemnitee of securities in violation of Section 16(b) of the
Securities Exchange Act of 1934, as amended, or any similar successor statute. 
 (d)    Non-compete and Non-disclosure. To indemnify Indemnitee in connection with proceedings or claims involving the enforcement of
non-compete and/or non-disclosure agreements or the non-compete and/or non-disclosure
provisions of employment, consulting or similar agreements the Indemnitee may be a party to with the Corporation, or any subsidiary of the Corporation or any other applicable foreign or domestic corporation, partnership, joint venture, trust or
other enterprise, if any. 
 Section 9.    Certain Settlement Provisions. The Corporation shall have no
obligation to indemnify Indemnitee under this Agreement for amounts paid in settlement of any action, suit or proceeding without the Corporation’s prior written consent, which shall not be unreasonably withheld. The Corporation shall not settle
any action, suit or proceeding in any manner that would impose any fine or other obligation on Indemnitee without Indemnitee’s prior written consent, which shall not be unreasonably withheld. 

  
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 Section 10.    Savings Clause. If any provision or provisions of
this Agreement shall be invalidated on any ground by any court of competent jurisdiction, then the Corporation shall nevertheless indemnify Indemnitee as to costs, charges and expenses (including attorneys’ fees), judgments, fines and amounts
paid in settlement with respect to any action, suit or proceeding, whether civil, criminal, administrative or investigative, including an action by or in the right of the Corporation, to the full extent permitted by any applicable portion of this
Agreement that shall not have been invalidated and to the full extent permitted by applicable law. 

Section 11.    Contribution. In order to provide for just and equitable contribution in circumstances in which
the indemnification provided for herein is held by a court of competent jurisdiction to be unavailable to Indemnitee in whole or in part, it is agreed that, in such event, the Corporation shall, to the fullest extent permitted by law, contribute to
the payment of Indemnitee’s costs, charges and expenses (including attorneys’ fees), judgments, fines and amounts paid in settlement with respect to any action, suit or proceeding, whether civil, criminal, administrative or investigative,
in an amount that is just and equitable in the circumstances, taking into account, among other things, contributions by other directors and officers of the Corporation or others pursuant to indemnification agreements or otherwise; provided, that,
without limiting the generality of the foregoing, such contribution shall not be required where such holding by the court is due to (i) the failure of Indemnitee to meet the standard of conduct set forth in Section 1 hereof, or
(ii) any limitation on indemnification set forth in Section 6(c), Section 8 or Section 9 hereof. 

Section 12.    Form and Delivery of Communications. Any notice, request or other communication required or
permitted to be given to the parties under this Agreement shall be in writing and either delivered in person or sent by telecopy, telex, telegram, overnight mail or courier service, or certified or registered mail, return receipt requested, postage
prepaid, to the parties at the following addresses (or at such other addresses for a party as shall be specified by like notice): 
 If to
the Corporation: 
 Peabody Energy Corporation 

701 Market Street 
 St. Louis, MO
63101 
 Attn: Executive Vice President and Chief Legal Officer 

Facsimile: (314) 342-3419 

If to Indemnitee: 
 Facsimile:

 Section 13.    Subsequent Legislation. If the DGCL is amended after adoption of this Agreement to expand
further the indemnification permitted to directors or officers, then the Corporation shall indemnify Indemnitee to the fullest extent permitted by the DGCL, as so amended. 

  
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 Section 14.    Nonexclusivity. The provisions for indemnification
and advancement of expenses set forth in this Agreement shall not be deemed exclusive of any other rights which Indemnitee may have under any provision of law, the Corporation’s Certificate of Incorporation or
By-Laws, in any court in which a proceeding is brought, the vote of the Corporation’s stockholders or disinterested directors, other agreements or otherwise, and Indemnitee’s rights hereunder shall
continue after Indemnitee has ceased acting as an agent of the Corporation and shall inure to the benefit of the heirs, executors and administrators of Indemnitee. However, no amendment or alteration of the Corporation’s Certificate of
Incorporation or By-Laws or any other agreement shall adversely affect the rights provided to Indemnitee under this Agreement. 

Section 15.    Enforcement. The Corporation shall be precluded from asserting in any judicial proceeding that
the procedures and presumptions of this Agreement are not valid, binding and enforceable. The Corporation agrees that its execution of this Agreement shall constitute a stipulation by which it shall be irrevocably bound in any court of competent
jurisdiction in which a proceeding by Indemnitee for enforcement of his rights hereunder shall have been commenced, continued or appealed, that its obligations set forth in this Agreement are unique and special, and that failure of the Corporation
to comply with the provisions of this Agreement will cause irreparable and irremediable injury to Indemnitee, for which a remedy at law will be inadequate. As a result, in addition to any other right or remedy Indemnitee may have at law or in equity
with respect to breach of this Agreement, Indemnitee shall be entitled to injunctive or mandatory relief directing specific performance by the Corporation of its obligations under this Agreement. 

Section 16.    Interpretation of Agreement. It is understood that the parties hereto intend this Agreement to
be interpreted and enforced so as to provide indemnification to Indemnitee to the fullest extent now or hereafter permitted by law. 

Section 17.    Entire Agreement. This Agreement and the documents expressly referred to herein constitute the
entire agreement between the parties hereto with respect to the matters covered hereby, and any other prior or contemporaneous oral or written understandings or agreements with respect to the matters covered hereby are expressly superceded by this
Agreement. 
 Section 18.    Modification and Waiver. No supplement, modification or amendment of this
Agreement shall be binding unless executed in writing by both of the parties hereto. No waiver of any of the provisions of this Agreement shall be deemed or shall constitute a waiver of any other provision hereof (whether or not similar) nor shall
such waiver constitute a continuing waiver. 
 Section 19.    Successor and Assigns. All of the terms and
provisions of this Agreement shall be binding upon, shall inure to the benefit of and shall be enforceable by the parties hereto and their respective successors, assigns, heirs, executors, administrators and legal representatives. The Corporation
shall require and cause any direct or indirect successor (whether by purchase, merger, consolidation or otherwise) to all or substantially all of the business or assets of the Corporation, by written agreement in form and substance reasonably
satisfactory to Indemnitee, expressly to assume and agree to perform this Agreement in the same manner and to the same extent that the Corporation would be required to perform if no such succession had taken place. 

  
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 Section 20.    Service of Process and Venue. For purposes of any
claims or proceedings to enforce this agreement, the Corporation consents to the jurisdiction and venue of any federal or state court of competent jurisdiction in the states of Delaware and Missouri, and waives and agrees not to raise any defense
that any such court is an inconvenient forum or any similar claim. 
 Section 21.     Governing Law. This
Agreement shall be governed exclusively by and construed according to the laws of the State of Delaware, as applied to contracts between Delaware residents entered into and to be performed entirely within Delaware. If a court of competent
jurisdiction shall make a final determination that the provisions of the law of any state other than Delaware govern indemnification by the Corporation of its officers and directors, then the indemnification provided under this Agreement shall in
all instances be enforceable to the fullest extent permitted under such law, notwithstanding any provision of this Agreement to the contrary. 

Section 22.    Employment Rights. Nothing in this Agreement is intended to create in Indemnitee any right to
employment or continued employment. 
 Section 23.    Counterparts. This Agreement may be executed in two or
more counterparts, each of which shall be deemed to be an original and all of which together shall be deemed to be one and the same instrument, notwithstanding that both parties are not signatories to the original or same counterpart. 

Section 24.    Headings. The section and subsection headings contained in this Agreement are for reference
purposes only and shall not affect in any way the meaning or interpretation of this Agreement. 
 IN WITNESS WHEREOF, this Agreement has
been duly executed and delivered to be effective as of the date first above written. 
  

			
	PEABODY ENERGY CORPORATION
		
	By:	 	  

		 	A. Verona Dorch
		 	Executive Vice President,
		 	Chief Legal Officer, Government Affairs and Corporate Secretary
	
	INDEMNITEE:
		
	By:	 	  

  
 12EX-10.7

 Exhibit 10.7 

PEABODY ENERGY CORPORATION 

2017 INCENTIVE PLAN 

RESTRICTED STOCK UNIT AGREEMENT 

THIS AGREEMENT (the “Agreement”), effective as of [    ], 2017, is made by and between
PEABODY ENERGY CORPORATION, a Delaware corporation (the “Company”), and the undersigned employee of the Company or a Subsidiary of the Company (the “Grantee”). The Grant Date for the Restricted
Stock Units evidenced by this Agreement is [    ], 2017 (the “Grant Date”). 
 WHEREAS, the
Company wishes to carry out the Peabody Energy Corporation 2017 Incentive Plan (the “Plan”), the terms of which are hereby incorporated by reference and made a part of this Agreement; 

WHEREAS, the Company deems it essential to the protection of its confidential information and competitive standing in its market to
have its key employees have reasonable restrictive covenants in place; 
 WHEREAS, Grantee agrees and acknowledges that the Company
has a legitimate interest to protect its confidential information and competitive standing; 
 WHEREAS, the Company deems it
essential to the optimal functioning of its business to have its key employees provide advance notice to the Company of their termination of employment; and 

WHEREAS, the Committee has determined that, subject to the provisions of this Agreement and the Plan, it would be to the advantage and
best interest of the Company and its shareholders to grant the Restricted Stock Units evidenced hereby to the Grantee as an incentive for his or her efforts during his or her term of service with the Company or its Subsidiaries or Affiliates, and
has advised the Company thereof and instructed the undersigned officer to enter into this Agreement to evidence such Restricted Stock Units. 

NOW, THEREFORE, in consideration of the mutual covenants herein contained and other good and valuable consideration, receipt of
which is hereby acknowledged, the parties hereby agree as follows: 
 ARTICLE I 

DEFINITIONS 
 Whenever the
following terms are used in this Agreement, they shall have the meanings specified below. Capitalized terms not otherwise defined in this Agreement shall have the meanings specified in the Plan. 

 Section 1.1 -    “Affiliate” shall mean any other
Person directly or indirectly controlling, controlled by, or under common control with the Company. For the purposes of this definition, the term “control” (including, with correlative meanings, the terms
“controlling”, “controlled by” and “under common control with”), as applied to any Person, means the possession, directly or indirectly, of the power to direct or cause the direction of the
management and policies of that Person, whether through the ownership of voting securities, by contract or otherwise. 
 Section 1.2
-    “Award” shall mean the number of Restricted Stock Units evidenced by this Agreement. 

Section 1.3 -    “Cause” shall mean (a) any willful fraud, dishonesty or misconduct of the
Grantee that can reasonably be expected to have a detrimental effect on (i) the reputation or business of the Company or any of its subsidiaries or Affiliates or (ii) the Grantee’s reputation or performance of his or her duties to the
Company or any of its subsidiaries or Affiliates; (b) willful refusal or failure of the Grantee to comply with the Company’s Code of Business Conduct and Ethics, the Company’s Anti-Corruption and Bribery policy or any other material
corporate policy of the Company; (c) the Grantee’s willful or repeated failure to meet documented performance objectives or to perform his or her duties or to follow reasonable and lawful directives of his or her manager (other than due to
death or Disability); (d) the Grantee’s conviction of, or plea of nolo contendere to (i) any felony or (ii) any other criminal charge that may reasonably be expected to have a material detrimental effect on the reputation or
business of the Company or any of its subsidiaries or Affiliates; or (e) the Grantee’s willful failure to cooperate with a bona fide internal investigation or an investigation by regulatory or law enforcement authorities, whether or not
related to the Grantee’s employment with the Company, after being instructed to cooperate by the Chairman of the Board and/or Company’s Chief Executive Officer or by the Board, or the willful destruction of or willful failure to preserve
documents or other material known to be relevant to any such investigation; provided, that with respect to clause (b), or (c) above, the Grantee shall have 15 business days following written notice of the conduct which is the basis for
the potential termination for “Cause” within which to cure such conduct, to the extent it can be cured, to prevent termination for “Cause” by the Company. If the Grantee cures the conduct that is the basis for the potential
termination for “Cause” within such period, the Company’s notice of termination shall be deemed withdrawn. 

Section 1.4 -    “Change in Control” shall mean the occurrence of any one or more of the following:
(a) any corporation, person or other entity (other than the Company, a majority-owned subsidiary of the Company or any of its subsidiaries, or an employee benefit plan (or related trust) sponsored or maintained by the Company or any of its
subsidiaries), including a “group” as defined in Section 13(d)(3) of the Exchange Act, becomes the beneficial owner of stock representing more than 50% of the combined voting power of the Company’s then outstanding securities;
(b) there is consummated (i) a merger, consolidation, plan of arrangement, reorganization or similar transaction or series of transactions in which the Company is involved, other than such a transaction or series of transactions which
would result in the shareholders of the Company immediately prior thereto continuing to own (either by remaining outstanding or by being converted into voting securities of the surviving entity) more than 50% of the combined voting power of the
securities of the Company or such surviving entity (or the parent, if any) outstanding immediately after such transaction(s) in substantially the same proportions as their ownership immediately prior to such transaction(s); (ii) a sale or other
disposition of all or 

  
 2 

 
substantially all of the Company’s assets; or (iii) approval by the Company’s shareholders of a plan of liquidation for the Company; or (c) within any period of 24 consecutive
months, persons who were members of the Board immediately prior to such 24-month period, together with persons who were first elected as directors (other than as a result of any settlement of a proxy or
consent solicitation contest or any action taken to avoid such a contest) during such 24-month period by or upon the recommendation of persons who were members of the Board immediately prior to such 24-month period and who constituted a majority of the Board at the time of such election, cease to constitute a majority of the Board. To the extent required for these Restricted Stock Units (to the extent they
represent a Deferred Compensation Award) to comply with Section 409A of the Code, no transaction will be a “Change in Control” unless it is also a change in the ownership or effective control of the Company, or in the ownership of a
substantial portion of the Company’s assets, as provided in Code Section 409A(a)(2)(A)(v) and Treasury Regulations Section 1.409A-3(i)(5). For the avoidance of doubt, (x) any issuance, transfer, or
acquisition of common stock, preferred stock, or other securities upon the Effective Date pursuant to the Plan or in connection with the Restructuring, including, but not limited to, any purchase of shares by any party or parties pursuant to the
Private Placement or the Section 1145 Rights Offering, (y) entry into any agreement, including the Backstop Commitment Agreement and the Private Placement Agreement in connection with such proposed issuance, transfer, or acquisition, and
(z) revesting of assets in the Company as of the Effective Date pursuant to the Plan, shall not, and shall not be deemed to, result in a “Change in Control” under the Plan and this Agreement (with terms “Restructuring,”
“Private Placement,” “Section 1145 Rights Offering,” “Backstop Commitment Agreement,” “Private Placement Agreement” and “Plan” having the meanings given for such terms in the Company’s plan
of reorganization, as the same may be amended, modified or supplemented). 
 Section 1.5
-    “Disability” means a mental or physical illness that entitles the Grantee to receive benefits under the long-term disability plan of an Employer, or if the Grantee is not covered by such a plan or the
Grantee is not an employee of an Employer, a mental or physical illness that renders a Grantee totally and permanently incapable of performing the Grantee’s duties for the Company or a Subsidiary. Notwithstanding the foregoing, (a) an
illness shall not qualify as a “Disability” if it is the result of (i) a willfully self-inflicted injury or willfully self-induced sickness; or (ii) an injury or disease contracted, suffered, or incurred while participating in a
felony criminal offense; and (b) with respect to a Deferred Compensation Award, Disability shall mean a Grantee’s inability to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment
that can be expected to result in death or can be expected to last for a continuous period of not less than 12 months. 
 Section 1.6
-    “Good Reason” shall mean (a) “Good Reason” as defined in the Grantee’s employment agreement with the Company, if any; or (b) if the Grantee does not have an employment agreement with the
Company or such agreement does not define “Good Reason,” then: (i) a reduction, other than a reduction that generally affects all similarly-situated executives and does not exceed 10% in one year or 20% in the aggregate over three
consecutive years, by the Company in the Grantee’s base salary from that in effect immediately prior to the reduction; (ii) a material reduction, other than a reduction that generally affects all similarly-situated executives, by the
Company in the Grantee’s target or maximum annual cash incentive award opportunity or target or maximum annual equity-based compensation award opportunity from those in effect immediately prior to any such reduction; (iii) relocation,
other than through 

  
 3 

 
mutual agreement in writing between the Company and the Grantee or a secondment or temporary relocation for a reasonably finite period of time, of the Grantee’s primary office by more than
50 miles from the location of the Grantee’s primary office as of the Agreement date; or (iv) any material diminution or material adverse change in the Grantee’s duties or responsibilities as they exist as of the Agreement date;
provided, that (x) if the Grantee terminates Grantee’s employment for “Good Reason,” the Grantee shall provide written notice to the Company at least 30 days in advance of the date of termination, such notice shall
describe the conduct the Grantee believes to constitute “Good Reason” and the Company shall have the opportunity to cure the “Good Reason” event within 30 days after receiving such notice, (y) if the Company cures the
conduct that is the basis for the potential termination for “Good Reason” within such 30-day period, the Grantee’s notice of termination shall be deemed withdrawn and (z) if the Grantee
does not give notice to the Company as described herein within 90 days after an event giving rise to “Good Reason,” the Grantee’s right to claim “Good Reason” termination on the basis of such event shall be deemed waived.

 Section 1.7 -    “Section 409A” shall mean Section 409A of the Code and the applicable
regulations or other guidance issued thereunder. 
 ARTICLE II 

GRANT OF RESTRICTED STOCK UNITS 

Section 2.1 -    Grant of Restricted Stock Units. Pursuant to Section 9 of the Plan, the Company has
granted to the Grantee an Award consisting of the number of Restricted Stock Units set forth on the signature page hereof upon the terms and subject to the conditions set forth in this Agreement and the Plan. The grant of the Restricted Stock Units
was made in consideration of the services to be rendered by the Grantee to the Company and its Subsidiaries and Affiliates. 

Section 2.2 -    No Obligation of Employment. Nothing in this Agreement or in the Plan shall confer upon the
Grantee any right to continue in the employ of the Company or any Subsidiary or Affiliate or interfere with or restrict in any way the rights of the Company and its Subsidiaries or Affiliates, which rights are hereby expressly reserved, to terminate
the employment of the Grantee at any time for any reason whatsoever, with or without Cause. 
 Section 2.3
-    Adjustments in Restricted Stock Units. In the event of the occurrence of one of the corporate transactions or other events listed in Section 4.2 of the Plan, the Committee shall make such substitution or
adjustment as provided in Sections 4.2 or 13.2 of the Plan or otherwise in the terms of the Restricted Stock Units in order to equitably reflect such corporate transaction or other event. Any such adjustment made by the Committee shall be final and
binding upon the Grantee, the Company and all other interested persons. 
 Section 2.4 -    Change in
Control. Notwithstanding anything in the Plan to the contrary, in the event of a Change in Control: (a) in which the Restricted Stock Units are continued, assumed or replaced by the acquiring or surviving entity, unless otherwise determined
by the Committee, the Committee shall either (i) make such adjustment to the Restricted Stock Units then outstanding as the Committee deems appropriate to reflect such Change in Control, or (ii) cause any such outstanding Restricted Stock
Units to be replaced or substituted by new rights by the acquiring or surviving entity after such Change in Control; and (b) in which the 

  
 4 

 
Restricted Stock Units are not to be continued, assumed or replaced by the acquiring or surviving entity, the Committee may convert the outstanding Restricted Stock Units to a cash-settled award
based on the value of the consideration the Company’s shareholders receive in the Change in Control, as determined by the Committee; provided, that such action complies with Code Section 409A. 

ARTICLE III 
 VESTING AND
FORFEITURE OF RESTRICTED STOCK UNITS 
 Section 3.1 -    Normal Vesting. Subject to Sections 2.4, 3.2
and 3.3, the Restricted Stock Units evidenced by this Agreement shall become nonforfeitable and payable to the Grantee pursuant to Article IV in three substantially equal installments (in each case rounded to the nearest whole Restricted Stock Unit)
on each of the first, second and third anniversaries of the Grant Date, conditioned upon the Grantee’s continuous employment with the Company or a Subsidiary through each such date. For purposes of this Agreement, “continuously
employed” (or substantially similar terms) means the absence of any interruption or termination of the Grantee’s employment with the Company or a Subsidiary. Continuous employment shall not be considered interrupted or terminated in the
case of transfers between locations of the Company and its Subsidiaries. Each installment of Restricted Stock Units that becomes nonforfeitable and payable hereunder is a “separate payment” for purposes of Code Section 409A. 

Section 3.2 -    Accelerated Vesting Events. Notwithstanding Section 3.1, upon (a) the
Grantee’s Termination of Service by the Company or a Subsidiary without Cause or by the Grantee for Good Reason or (b) the Grantee’s Termination of Service due to death or by the Grantee due to Disability, 100% of the unvested
Restricted Stock Units evidenced by this Agreement shall, to the extent not already forfeited, become immediately nonforfeitable on the date of such Termination of Service and shall be settled in accordance with Article IV below. 

Section 3.3 -    Effect of Certain Terminations of Service. A Grantee will forfeit any and all unvested
Restricted Stock Units upon (a) the Grantee’s voluntary Termination of Service or (b) the Grantee’s Termination of Service by the Company or a Subsidiary for Cause. Except as provided in Section 3.2, no Restricted Stock Unit
shall become nonforfeitable and payable in accordance with Article IV following a Grantee’s Termination of Service, and any such non-vested and forfeitable Restricted Stock Units shall be immediately and
automatically forfeited upon such Termination of Service. 
 ARTICLE IV 

SETTLEMENT OF RESTRICTED STOCK UNITS 

Section 4.1 -    Settlement of Vested Restricted Stock Units. Subject to Sections 4.2 and 13.2 of the Plan and
to any withholding obligations described in Section 6.3 of this Agreement, one share of Common Stock will be issued or delivered for each nonforfeitable Restricted Stock Unit evidenced by this Agreement as soon as practicable following the date
on which the Restricted Stock Unit becomes nonforfeitable as set forth in Section 3.1 or Section 3.2, as applicable, but in all cases within the “short term deferral” period determined under Treasury Regulation Section 1.409A-1(b)(4). For the sake of clarity, the settlement of shares in respect of nonforfeitable Restricted Stock Units is intended to comply with Treasury Regulation Section
1.409A-1(b)(4) and will be construed and administered in such a manner. As a result, the shares 

  
 5 

 
will be issued no later than the date that is the 15th day of the third calendar month of the applicable year following the year in which the
shares subject to the Restricted Stock Units are no longer subject to a “substantial risk of forfeiture” within the meaning of Treasury Regulation Section 1.409A-1(d). 

Section 4.2 -    Forfeiture of Unvested Restricted Stock Units. To the extent that the Grantee does not vest
in all or any portion of the Restricted Stock Units subject to the Award, all interest in such unvested Restricted Stock Units shall be forfeited upon the Grantee’s Termination of Service. The Grantee has no right or interest in any Restricted
Stock Unit that is forfeited. 
 Section 4.3 -    Treatment of Fractional Shares of Common Stock. To the
extent rounding to the nearest whole number of shares of Common Stock equal to the number of nonforfeitable Restricted Stock Units pursuant to Section 4.1 above results in fractional shares of Common Stock which are not issued or delivered to a
Grantee, all such fractional shares of Common Stock shall be settled in cash based on the Fair Market Value of a share of Common Stock on the payment date. 

ARTICLE V 
 CONDITION TO
GRANT OF AWARD; OTHER PROVISIONS 
 Section 5.1 -    Restrictive Covenant Agreement. The Grantee shall
not be entitled to receive the Award unless the Grantee shall have executed and delivered the Restrictive Covenant Agreement, substantially in the form attached hereto as Exhibit A, and such shall be in full force and effect. 

Section 5.2 -    Notice Period. The Grantee may terminate the Grantee’s employment with the Company or a
Subsidiary at any time for any reason by delivery of notice to the Company at least 90 days in advance of the date of termination (the “Notice Period”); provided, however, that no communication, statement
or announcement shall be considered to constitute such notice of termination of Grantee’s employment unless it complies with Section 6.4 hereof and specifically recites that it is a notice of termination of employment for purposes of this
Agreement; and provided, further, that the Company may waive any or all of the Notice Period, in which case Grantee’s employment with the Company or a Subsidiary or Affiliate will terminate on the date determined by the Company.

 Section 5.3 -    Breach of Restrictive Covenant Agreement or Section 5.2. If the
Grantee materially breaches any provision of the Restrictive Covenant Agreement or Section 5.2 hereof, the Company may, among other available remedies, determine that the Grantee (a) will forfeit any unpaid portion of the Restricted Stock
Units evidenced by this Agreement and (b) will repay to the Company any portion of the Restricted Stock Units evidenced by this Agreement previously paid to Grantee. 

Section 5.4 -    Conditions to Issuance of Shares. The Shares deliverable hereunder may be either previously
authorized but unissued shares or issued shares that have been reacquired by the Company. Such Shares shall be fully paid and nonassessable. The Company shall not be 

  
 6 

 
required to issue or deliver any certificate or certificates (or other documentation that indicates ownership) for Shares paid hereunder prior to the fulfillment of both of the following
conditions: 
 (a)    The obtaining of approval or other clearance from any state or federal governmental
agency that the Committee, in its absolute discretion, determines to be necessary or advisable; and 

(b)    The lapse of such reasonable period of time following the grant as the Committee may establish from
time to time for administrative convenience (subject to, and in compliance with the requirements of Section 409A, including any requirements necessary to comply with Treasury Regulation Section
1.409A-1(b)(4)). 
 Section 5.5 -    Rights as a Shareholder; Dividend
Equivalents. The Grantee shall not be, and shall not have any of the rights or privileges of, a shareholder of the Company in respect of any Shares underlying Restricted Stock Units evidenced by this Agreement unless and until certificates
representing such shares shall have been issued by the Company to Grantee or such ownership has otherwise been indicated and documented by the Company. From and after the Grant Date and until the earlier of (a) the time when the Restricted
Stock Units become nonforfeitable and are paid in accordance with Article IV hereof or (b) the time when the Grantee’s right to receive payment for the Restricted Stock Units is forfeited in accordance with the provisions of this
Agreement, on the date that the Company pays a cash dividend (if any) to holders of Shares generally, the Grantee shall be credited with additional Restricted Stock Units equal to the quotient of (x) the product of (i) the dividend
declared per Share multiplied by (ii) the number of Restricted Stock Units evidenced by this Agreement (plus any previously-credited dividend equivalents), divided by (y) the Fair Market Value of a Share on the date such dividend is paid
to shareholders, with any fractional Restricted Stock Units to be credited in cash. Any amounts credited pursuant to the immediately preceding sentence shall be subject to the same applicable terms and conditions (including vesting, payment and
forfeitability) as apply to the Restricted Stock Units based on which the dividend equivalents were credited, and such additional Restricted Stock Units shall be paid in Shares, and any fractional Restricted Stock Units shall be paid in cash, in
each case, at the same time as the Restricted Stock Units to which they relate are paid. 
 Section 5.6
-    Restrictions. Restricted Stock Units granted pursuant to this Agreement shall be subject to Section 5.9 of the Plan and all applicable policies and guidelines of the Company that relate to (a) share
ownership requirements, or (b) recovery of compensation (i.e., clawbacks). 
 ARTICLE VI 

MISCELLANEOUS 

Section 6.1 -    Administration. The Committee has the power to interpret the terms of the Restricted Stock
Units, the Plan and this Agreement and to adopt such rules for the administration, interpretation and application of the Plan as are consistent therewith and to interpret or revoke any such rules. All actions taken and all interpretations and
determinations made by the Committee shall be final and binding upon the Grantee, the Company and all other interested persons. No member of the Committee shall be personally liable for any action, determination or interpretation made in good faith
with respect to the Plan or the Restricted Stock Units. In its absolute discretion, the Board may at any time and from time to time exercise any and all rights and duties of the Committee under the Plan and this Agreement. 

  
 7 

 Section 6.2 -    Restricted Stock Units Not Transferable. Neither
the Restricted Stock Units nor any interest or right therein or part thereof shall be liable for the debts, contracts or engagements of the Grantee or his or her successors in interest or shall be subject to disposition by transfer, alienation,
anticipation, pledge, encumbrance, assignment or any other means whether such disposition is voluntary or involuntary or by operation of law by judgment, levy, attachment, garnishment or any other legal or equitable proceedings (including
bankruptcy), and any attempted disposition thereof shall be null and void and of no effect; provided, however, that this Section 6.2 shall not prevent transfers by will or by the applicable laws of descent and distribution. 

Section 6.3 -    Withholding. As of the date that all or a portion of the Restricted Stock Units become
settled pursuant to Section 4.1 hereof, the Company will, in accordance with Section 16.1(a) of the Plan, withhold a number of shares of Common Stock underlying the then vested Restricted Stock Units with a fair market value equal to the
aggregate amount required by law to be withheld by the Company in connection with such vesting for applicable federal, state, local and foreign taxes of any kind. To the extent taxes are to be withheld upon vesting for purposes of federal FICA, FUTA
or Medicare taxes, such withholding shall be taken from other income owed by the Company to the Grantee and the Grantee hereby agrees to such withholding. For all purposes, the amount withheld by the Company pursuant to this Section 6.3 shall
be deemed to have first been paid to the Grantee. 
 Section 6.4 -    Notices. Any notice to be given under
the terms of this Agreement to the Company shall be provided to the Company’s Human Resources department, with a copy to the Grantee’s supervisor, and any notice to be given to the Grantee shall be addressed to him or her at the address
set forth in the records of the Company. By a notice given pursuant to this Section 6.4, either party may hereafter designate a different address for notices to be given to him, her or it. Any notice which is required to be given to the Grantee
shall, if the Grantee is then deceased, be given to the Grantee’s personal representative if such representative has previously informed the Company of his, her or its status and address by written notice under this Section 6.4. Any notice
shall be deemed duly given when enclosed in a properly sealed envelope or wrapper addressed as aforesaid, deposited (with postage prepaid) in a post office or branch post office regularly maintained by the United States Postal Service.
Notwithstanding the foregoing, any notice required or permitted hereunder from the Company to the Grantee may be made by electronic means, including by electronic mail to the Company-maintained electronic mailbox of the Grantee, and the Grantee
hereby consents to receive such notice by electronic delivery. To the extent permitted in an electronically delivered notice described in the previous sentence, the Grantee shall be permitted to respond to such notice or communication by way of a
responsive electronic communication, including by electronic mail. 
 Section 6.5 -    Titles. Titles are
provided herein for convenience only and are not to serve as a basis for interpretation or construction of this Agreement. 

Section 6.6 -    Pronouns. The masculine pronoun shall include the feminine and neuter, and the singular the
plural, where the context so indicates. 
 Section 6.7 -    Applicability of Plan. The Restricted Stock
Units and the Shares issued to the Grantee, if any, shall be subject to all of the terms and provisions of the Plan, to the extent applicable to the Restricted Stock Units and such Shares. In the event of any conflict between this Agreement and the
Plan, the terms of the Plan shall control. 

  
 8 

 Section 6.8 -    Amendment. The Committee may amend this
Agreement at any time, provided that no such amendment shall materially impair the rights of the Grantee unless reflected in a writing executed by the parties hereto that specifically states that it is amending this Agreement. 

Section 6.9 -    Severability. The invalidity or unenforceability of any provision of the Plan or this
Agreement shall not affect the validity or enforceability of any other provision of the Plan or this Agreement, and each provision of the Plan and this Agreement shall be severable and enforceable to the extent permitted by law. 

Section 6.10 -    Dispute Resolution. Any dispute or controversy arising under or in connection with this
Agreement shall be resolved by arbitration in St. Louis, Missouri. Arbitrators shall be selected, and arbitration shall be conducted, in accordance with the rules of the American Arbitration Association. The Company shall pay or reimburse any legal
fees in connection with such arbitration in the event that the Grantee prevails on a material element of his or her claim or defense. Payments or reimbursements of legal fees made under this Section 6.10 that are provided during one calendar
year shall not affect the amount of such payments or reimbursements provided during a subsequent calendar year, payments or reimbursements under this Section 6.10 may not be exchanged or substituted for another form of compensation to the
Grantee, and any such reimbursement or payment will be paid within 60 days after the Grantee prevails, but in no event later than the last day of the Grantee’s taxable year following the taxable year in which he incurred the expense giving rise
to such reimbursement or payment. This Section 6.10 shall remain in effect throughout the Grantee’s employment with the Company or any Subsidiary and for a period of five (5) years following the Grantee’s Termination of Service.

 Section 6.11 -    Section 409A. 

(a)    The Award is intended to comply with the “short-term deferral” rule set forth in Treasury
Regulation Section 1.409A-1(b)(4) and, to the maximum extent permitted, this Agreement shall be construed and administered consistent with such intent. Notwithstanding anything contained herein to the
contrary, if the Award fails to satisfy the requirements of the short-term deferral rule and is otherwise not exempt from, and therefore deemed to be deferred compensation subject to, Section 409A, references in this Agreement (including in
Section 4.1), to payment or settlement of amounts under this Agreement within the “short-term deferral” period determined under Treasury Regulation Section 1.409A-1(b)(4), shall not apply, and
instead payments will be made on the applicable payment date or a later date within the same taxable year of the Grantee, or if such timing is administratively impracticable, by the 15th day of
the third calendar month following the date specified herein. For clarity, the Grantee is not permitted to designate the taxable year of payment. Notwithstanding anything contained herein to the contrary, if the Grantee is a “specified
employee” (within the meaning set forth Section 409A(a)(2)(B)(i) of the Code) as of the date of the Grantee’s “separation from service” (within the meaning of Treasury Regulation Section
1.409A-1(h)), then the issuance of any Shares that would otherwise be made on the date of the separation from service or 

  
 9 

 
within the first six months thereafter will not be made on the originally scheduled dates and will instead be issued in a lump sum on the date that is six months and one day after the date of the
separation from service (or upon death, if earlier), with the balance of the Shares issued thereafter in accordance with the original vesting and issuance schedule set forth above, but if and only if such delay in the issuance of the Shares is
necessary to avoid the imposition of taxation in respect of the shares under Section 409A. A termination of employment or service shall not be deemed to have occurred for purposes of this Agreement providing for the payment of any amounts that are
considered deferred compensation under Section 409A upon or following a termination of employment or service, unless such termination is also a “separation from service” (within the meaning of Treasury Regulation Section 1.409A-1(h)) and the payment thereof prior to a “separation from service” would violate Section 409A. Each installment of Shares that becomes payable in respect of vested Restricted Stock Units subject to
the Award is a “separate payment” for purposes of Treasury Regulation Section 1.409A-2(b)(2). In no event shall the Company be liable for all or any portion of any taxes, penalties, interest or other
expenses that may be incurred by the Grantee on account of Section 409A. 
 (b)    In the event that the
Company determines that any amounts payable hereunder may be taxable to the Grantee under Code Section 409A prior to the payment and/or delivery to the Grantee of such amount, the Committee may adopt such amendments to the Agreement, and appropriate
policies and procedures, including amendments and policies with retroactive effect, that the Committee determines necessary or appropriate to preserve the intended tax treatment of the benefits provided by the Restricted Stock Units and this
Agreement. 
 (c)    Notwithstanding any provision of this Agreement to the contrary, in light of the
uncertainty with respect to the proper application of Section 409A of the Code, the Company reserves the right to make amendments to this Agreement and the terms of the Restricted Stock Units as the Company deems necessary or desirable to avoid the
imposition of taxes or penalties under Section 409A. In any case, neither the Company nor any of its affiliates will have any obligation to indemnify or otherwise hold the Grantee harmless from any or all of such taxes or penalties. 

Section 6.12 -    Governing Law. The laws of the State of Delaware shall govern the interpretation, validity
and performance of the terms of this Agreement regardless of the law that might be applied under principles of conflicts of laws. 

Section 6.13 -    Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed
an original but all of which together will constitute one and the same instrument. Counterpart signatures to this Agreement transmitted by facsimile, electronic mail, or by any other electronic means intended to preserve the original graphic and
pictorial appearance of a document, will have the same effect as physical delivery of the paper document bearing an original signature. 

Section 6.14 -    Acceptance of the Plan. The Grantee hereby acknowledges receipt of a copy of the Plan and
this Agreement. The Grantee has read and understands the terms and provisions thereof, and accepts the Restricted Stock Units subject to all the terms and conditions of the Plan and this Agreement. The Grantee acknowledges that there may be adverse
tax consequences upon the vesting or settlement of the Restricted Stock Units and that the Grantee has been advised to consult a tax advisor prior to such vesting or settlement. 

[SIGNATURE PAGE FOLLOWS] 

  
 10 

 IN WITNESS WHEREOF, this Agreement has been executed and delivered by the
parties hereto. 
  

							
	GRANTEE	 		 	PEABODY ENERGY CORPORATION
			
	  
	 		 	  

	[INSERT GRANTEE NAME HERE]	 		 	By:	 	[NAME]
		 		 	Its:	 	[TITLES]
			
		 		 	 Total Number of Restricted Stock Units

subject to the Award: [INSERT NUMBER HERE]

  
 11 

 EXHIBIT A 

RESTRICTIVE COVENANT AGREEMENT 

(See attached)

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