Document:

exhibit44.htm

    Exhibit
4.4

     

    THIRD
SUPPLEMENTAL INDENTURE

    

    

    THIRD SUPPLEMENTAL INDENTURE,
dated as of August 28, 2009 (the “Supplemental Indenture”), among Massey Energy
Company, a Delaware corporation, as issuer (the “Issuer”), the Guarantors (as
defined in the Indenture (defined below)), Foglesong Energy Company, a Kentucky
corporation (the “New Subsidiary”), and Wilmington Trust Company, as trustee
(the “Trustee”).

    

    W
I T N E S S E T H

    

    WHEREAS, the Issuer, the
Guarantors and the Trustee executed that certain Senior Indenture (the “Base
Indenture”), dated as of August 12, 2008, as supplemented by that First
Supplemental Indenture, dated the same date, and that Second Supplemental
Indenture, dated as of July 20, 2009, each by and among the Issuer, the
Guarantors (defined therein) and the Trustee (together with the Base Indenture
and as amended and supplemented, the “Indenture”), providing for the issuance of
the 3.25% Convertible Senior Notes due 2015 in the principal amount of up to Six
Hundred Ninety Million and 00/100 Dollars ($690,000,000).

    

    WHEREAS, the New Subsidiary
was incorporated in the State of West Virginia on July 29, 2009.

    

    WHEREAS, Elk Run Coal Company,
Inc., an indirect wholly-owned subsidiary of the Issuer, on August 28, 2009
capitalized, and became the sole parent of, the New Subsidiary.

    

    WHEREAS, the New Subsidiary
desires to incur Indebtedness and to guarantee the Indebtedness of the Issuer
and/or its wholly-owned subsidiaries, to the extent permitted by the
Indenture.

    

    WHEREAS, pursuant to Section
1504 of the Base Indenture, the New Subsidiary desires to become a Guarantor
under the Indenture.

    

    WHEREAS, Section 1504 of the
Base Indenture provides that supplemental indentures may be executed and
delivered by the Issuer, the Guarantors and the Trustee for the purpose of
amending or supplementing the Indenture so that a Subsidiary may become a party
to the Indenture and issue a Note Guarantee, as attached hereto as Exhibit
A.

    

    WHEREAS, all other acts and
proceedings necessary have been done to make this Supplemental Indenture, when
executed and delivered by the Issuer, the Guarantors and the Trustee, the legal,
valid and binding agreement of the Issuer and the Guarantors in accordance with
its terms.

    

    NOW THEREFORE, for good and
valuable consideration, the sufficiency and receipt of which are hereby
acknowledged, the parties, intending to be legally bound, agree as
follows:

    

    Section 1.  Confirmation of the
Indenture; Definitions.  Except as supplemented hereby, the
Indenture is hereby confirmed and reaffirmed in all
particulars.  Anything in the Indenture or herein to the contrary
notwithstanding, all recitals, definitions and provisions contained in this
Supplemental Indenture shall take precedence over the recitals, definitions and
provisions of the 

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    Indenture
to the extent of any conflict between the two.  Unless otherwise
defined herein, terms defined in the Indenture and used herein shall have the
meaning given them in the Indenture.

    

    Section
2.  (a)  The New Subsidiary hereby executes this Agreement
as a supplemental indenture to the Indenture for the purpose of issuing a Note
Guarantee, as set forth in Exhibit A, and agrees to be subject to all of the
terms, conditions, waivers and covenants applicable to a Subsidiary and
Guarantor under the Indenture.  Upon its execution hereof, the New
Subsidiary hereby acknowledges that it shall be a Guarantor for all purposes as
defined as set forth in the Indenture, effective as of the date
hereof.

    

    (b)           None
of the shareholders, trustees or officers of the New Subsidiary shall be
personally liable for the New Subsidiary’s obligations as a Guarantor arising
under the Indenture.

    

    Section 3.  Conditions to Effectivess of
Supplemental Indenture and to Operation of Amendments Made
Hereby.  This Supplemental Indenture shall become effective
immediately upon its execution by the Trustee, the Issuer and the
Guarantors.

    

    Section 4.  Counterparts.  This
Supplemental Indenture may be executed in any number of counterparts, each of
which so executed shall be deemed to be an original, but all such counterparts
shall together constitute but one and the same instrument.

    

    Section 5.  Severability.  In
case any provision in this Supplemental Indenture shall be invalid, illegal or
unenforceable, the validity, legality and enforceability of the remaining
provisions shall not in any way be effected or impaired thereby.

    

    Section 6.  Governing
Law.  This Supplemental Indenture shall be governed by and
construed in accordance with the laws of the State of New York.

    

    Section 7.  Trustee.  The
Trustee makes no representation as the validity or sufficiency of this
Supplemental Indenture.

    

    

    

    

    [Signature
page follows.]

    

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    IN WITNESS WHEREOF, the
parties hereto have caused this Supplemental Indenture to be duly executed, all
as of the date first above written.

    

     

    
       

      
        	
                 MASSEY ENERGY COMPANY

                 

              
	
                 By: 
      /s/  Richard R.
      Grinnan

              
	 Name: 
      Richard R. Grinnan
	 Title: 
      Vice President and Secretary
	 
	 
	 FOGLESONG ENERGY COMPANY
	 
	 By: 
      /s/  Richard R.
      Grinnan
	 Name: 
      Richard R. Grinnan
	 Title: 
      Secretary
	 

      

       

    

     

     

     

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    GUARANTORS:

     
 

    A.T.
MASSEY COAL COMPANY, INC.

    ALEX
ENERGY, INC.

    ARACOMA
COAL COMPANY, INC.

    BANDMILL
COAL CORPORATION

    BANDYTOWN
COAL COMPANY

    BARNABUS
LAND COMPANY

    BELFRY
COAL CORPORATION

    BEN
CREEK COAL COMPANY

    BIG
BEAR MINING COMPANY

    BIG
SANDY VENTURE CAPITAL CORP.

    BLACK
KING MINE DEVELOPMENT CO.

    BLUE
RIDGE VENTURE CAPITAL CORP.

    BOONE
EAST DEVELOPMENT CO.

    BOONE
ENERGY COMPANY

    BOONE
WEST DEVELOPMENT CO.

    CENTRAL
PENN ENERGY COMPANY, INC.

    CENTRAL
WEST VIRGINIA ENERGY COMPANY

    CERES
LAND COMPANY

    CLEAR
FORK COAL COMPANY

    CRYSTAL
FUELS COMPANY

    DEHUE
COAL COMPANY

    DELBARTON
MINING COMPANY

    DEMETER
LAND COMPANY

    DOUGLAS
POCAHONTAS COAL CORPORATION

    DRIH
CORPORATION

    DUCHESS
COAL COMPANY

    DUNCAN
FORK COAL COMPANY

    EAGLE
ENERGY, INC.

    ELK
RUN COAL COMPANY, INC.

    FEATS
VENTURE CAPITAL CORP.

    GOALS
COAL COMPANY

    GREEN
VALLEY COAL COMPANY

    GREYEAGLE
COAL COMPANY

    HADEN
FARMS, INC.

    HANNA
LAND COMPANY, LLC

    (by
ALEX ENERGY, INC., its Manager)

    HAZY
RIDGE COAL COMPANY

    HIGHLAND
MINING COMPANY

    HOPKINS
CREEK COAL COMPANY

    INDEPENDENCE
COAL COMPANY, INC.

    JACKS
BRANCH COAL COMPANY

    JOBONER
COAL COMPANY

    KANAWHA
ENERGY COMPANY

    KNOX
CREEK COAL CORPORATION

    LAUREN
LAND COMPANY

    LAXARE,
INC.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    LOGAN
COUNTY MINE SERVICES, INC.

    LONG
FORK COAL COMPANY

    LYNN
BRANCH COAL COMPANY, INC.

    MAJESTIC
MINING, INC.

    MARFORK
COAL COMPANY, INC.

    MARTIN
COUNTY COAL CORPORATION

    MASSEY
COAL SALES COMPANY, INC.

    MASSEY
GAS & OIL COMPANY

    MASSEY
TECHNOLOGY INVESTMENTS, INC.

    NEW
MARKET LAND COMPANY

    NEW
RIDGE MINING COMPANY

    NEW
RIVER ENERGY CORPORATION

    NICCO
CORPORATION

    NICHOLAS
ENERGY COMPANY

    OMAR
MINING COMPANY

    PEERLESS
EAGLE COAL CO.

    PERFORMANCE
COAL COMPANY

    PETER
CAVE MINING COMPANY

    PILGRIM
MINING COMPANY, INC.

    POWER
MOUNTAIN COAL COMPANY

    RAVEN
RESOURCES, INC.

    RAWL
SALES & PROCESSING CO.

    ROAD
FORK DEVELOPMENT

    COMPANY,
INC.

    ROBINSON-PHILLIPS
COAL COMPANY

    RUM
CREEK COAL SALES, INC.

    RUSSELL
FORK COAL COMPANY

    SC
COAL CORPORATION

    SCARLET
DEVELOPMENT COMPANY

    SHANNON-POCAHONTAS
COAL CORPORATION

    SHANNON-POCAHONTAS
MINING COMPANY

    (by:
SHANNON-POCAHONTAS COAL

    CORPORATION,
its partner

    by:
OMAR MINING COMPANY, its partner)

    SHENANDOAH
CAPITAL MANAGEMENT CORP.

    SIDNEY
COAL COMPANY, INC.

    SPARTAN
MINING COMPANY

    ST.
ALBAN’S CAPITAL

    MANAGEMENT
CORP.

    STIRRAT
COAL COMPANY

    STONE
MINING COMPANY

    SUPPORT
MINING COMPANY

    SYCAMORE
FUELS, INC.

    T.C.H.
COAL CO.

    TALON
LOADOUT COMPANY

    TENNESSEE
CONSOLIDATED COAL COMPANY

    TENNESSEE
ENERGY CORP.

    THUNDER
MINING COMPANY

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    TOWN
CREEK COAL COMPANY

    TRACE
CREEK COAL COMPANY

    TUCSON
LIMITED LIABILITY COMPANY,

    (by:
ALEX ENERGY, INC., its Manager)

    VANTAGE
MINING COMPANY

    WHITE
BUCK COAL COMPANY

    WEST
KENTUCKY ENERGY COMPANY

    WILLIAMS
MOUNTAIN COAL COMPANY

    WYOMAC
COAL COMPANY, INC.

    

    

    By: /s/ Richard R.
Grinnan____                                                      

         Name:  Richard
R. Grinnan

         Title:  Secretary

    

    

    MASSEY
COAL SERVICES, INC.

    

    

    By: /s/ Richard R.
Grinnan____                                                      

         Name:  Richard
R. Grinnan

         Title:  Assistant
Secretary

    

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    WILMINGTON TRUST
COMPANY,

    as
Trustee

    

    

    By:  /s/ Michael G. Oller,
Jr._______

           Name:
Michael G. Oller, Jr.

           Title:
Assistant Vice President

    

    

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    EXHIBIT
A

    

    NOTE
GUARANTEE

    

    The undersigned (the “Guarantor”)
hereby jointly and severally unconditionally guarantees, on a senior unsecured
basis, to the extent set forth in the Indenture (the “Base Indenture”), dated as
of August 12, 2008, as supplemented by that First Supplemental Indenture, dated
the same date, and Second Supplemental Indenture, dated as of July 20, 2009,
each by and among Massey Energy Company, as issuer, the Guarantors (as defined
therein) and Wilmington Trust Company, as Trustee (together with the Base
Indenture and as amended, restated or supplemented from time to time, the
“Indenture”), and subject to the provisions of the Indenture, (a) the due and
punctual payment of the principal of, and premium, if any, interest and
additional interest, if any, with respect to the Securities, when and as the
same shall become due and payable, whether at maturity, by acceleration or
otherwise, the due and punctual payment of interest on overdue principal of, and
premium and, to the extent permitted by law, interest or additional interest, if
any, and the due and punctual performance of all other obligations of the
Company or any Guarantor to the Holders or the Trustee under this Indenture and
the Securities (including amounts due the Trustee under Section 607 of the
Indenture), all in accordance with the terms set forth in Article Fifteen of the
Base Indenture, and (b) in case of any extension of time of payment or renewal
of any Securities or any of such other obligations, that the same shall be
promptly paid in full when due or performed in accordance with the terms of the
extension or renewal, whether at Stated Maturity, by acceleration or
otherwise.

    

    The obligations of the Guarantors to
the Holders and to the Trustee pursuant to this Note Guarantee and the Indenture
are expressly set forth in Article Fifteen of the Base Indenture and reference
is hereby made to the Indenture for the precise terms and limitations of this
Note Guarantee.

    

    Capitalized terms not otherwise defined
herein shall have the meanings set forth in the Indenture.

    

    

    

    [Signature
Page Follows]

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    IN WITNESS WHEREOF, the Guarantor has
caused this Note Guarantee to be signed by a duly authorized
officer.

    

    

    FOGLESONG ENERGY COMPANY

    

    

    

    By:  __________________________________

           Name:  Richard
R. Grinnan

           Title:  Secretary

    

    

    

    
      	 
      

    

    Dated:  August
28, 2009perfshareprog3rdqtr10q2009.htm

    Exhibit
10.1

     

    OLIN
CORPORATION

     

    PERFORMANCE
SHARE PROGRAM

     

    Codified
to reflect amendments

     

    through
October 22, 2008

     

    
      	
              1.  

            	
              Terms
      and Conditions

            

    

     

    The terms
and conditions of the Performance Share Awards granted under this Program are
contained in the Performance Share Certificate evidencing such Award, this
Program and the LTIP.

     

    
      	
              2.  

            	
              Definitions

            

    

     

    “Common
Stock” means the common stock of Olin, par value $1.00 per share.

     

    “Final
Share Number” has the meaning specified in Section 3 of this
Program.

     

    “LTIP”
means the Olin Corporation benefit plan under which the relevant Performance
Share Award is granted, including the 2003 Long Term Incentive Plan, the 2006
Long Term Incentive Plan and any successor or similar plan.

     

    “Olin”
means Olin Corporation.

     

    “Performance
Cycle” means, with respect to a Performance Share Award, a period of three
calendar years, beginning with the calendar year in which such Performance Share
Award is granted.

     

    “Performance
Share Award” shall mean grants of “Performance Shares” and “Senior Performance
Shares.”

     

    “Performance
Share” and “Senior Performance Share” mean a unit granted under the LTIP and
this Program, maintained on the books of the Company during the Performance
Cycle, denominated as one phantom share of Common Stock, and paid in cash or
Common Stock in accordance with this Program.

     

    “Program”
means this Performance Share Program.

     

    “S&P
ROC” shall
mean the average annual return on capital (calculated in the same manner as
Olin’s Return on Capital) of a group composed of the Standard & Poor’s 1000
Materials companies plus Occidental Petroleum Corporation; Alliant Techsystems
Inc., PPG Industries, Inc.; The Dow Chemical Company and Westlake Chemical
Corporation, broken out by quintiles.

     

    Capitalized
terms not otherwise defined in this Program shall have the meaning specified in
the LTIP.

     

    
      
        
        

      

      
        1

        
          

        

      

      
        
        

      

    

    
      	
              3.  

            	
              Performance
      Share Awards

            

    

     

    
      	
              a.  

            	
              Awards
      of Senior Performance Shares (category A) under this Program granted
      pursuant to the LTIP are intended to be “performance-based compensation”
      as that term is used in Section 162(m) of the Code.  Each
      Performance Share Award shall establish a target number of Performance
      Shares or Senior Performance Shares awarded to the Participant named in
      such Award.

            

    

     

    
      	
              b.  

            	
              The
      target number of Performance Shares for each Participant shall be adjusted
      based upon a comparison of Olin’s average annual Return on Capital during
      the Performance Cycle with the S&P ROC during the Performance Cycle,
      in accordance with the following
chart:

            

    

     

    
      	
               

              If Olin’s Return on Capital for a Performance
      Cycle is in the:

            	
               

              The
      % of the target number of Performance

              Shares paid will
      be:                      

            
	
              highest
      Quintile of the S&P ROC

            	
              150%

            
	
              2nd
      Quintile of the S&P ROC

            	
              125%

            
	
              3rd
      Quintile of the S&P ROC

            	
              100%

            
	
              4th
      Quintile of the S&P ROC

            	
              50%

            
	
              lowest
      Quintile of the S&P ROC

            	
              25%

            

    

    

    
      	
              c.  

            	
              The
      target number of Senior Performance Shares for each Participant shall be
      adjusted based upon a comparison of Olin’s average annual Return on
      Capital during the Performance Cycle with the S&P ROC during the
      Performance Cycle, in accordance with the following
  chart:

            

    

     

    
      	 
      	
              The
      % of the target number of Senior

              Performance
      Shares paid will be:

            
	
               

              If Olin’s Return on Capital for a Performance
      Cycle is in the:

            	
              A
      Shares

            	
              B
      Shares

            
	
              highest
      Quintile of the S&P ROC

            	
              150%

            	
              150%

            
	
              2nd
      Quintile of the S&P ROC

            	
              125%

            	
              125%

            
	
              3rd
      Quintile of the S&P ROC

            	
              100.0%

            	
              100%

            
	
              4th
      Quintile of the S&P ROC

            	
              33.33%

            	
              100%

            
	
              lowest
      Quintile of the S&P ROC

            	
              0%

            	
              100%

            

    

    

    
      	
              d.  

            	
              As
      soon as practicable in the calendar year following the end of the
      Performance Cycle, the Company shall calculate the appropriate adjustment,
      if any, to the target number of Performance Shares and Senior Performance
      Shares (the “Final Share Number”) for all Participants whose Performance
      Share Awards have vested during or at the end of such Performance
      Cycle.

            

    

     

    
      	
              4.  

            	
              Vesting
      and Forfeiture

            

    

     

    
      	
              a.  

            	
              Except
      as otherwise provided by the Committee, the LTIP, this Program or the
      Performance Share Award certificate, an interest in a Performance Share
      Award shall vest only if the Participant is an employee of the Company or
      a subsidiary on the last day of the relevant Performance
      Cycle.

            

    

     

    
      	
              b.  

            	
              If
      a Participant’s employment with the Company or a subsidiary terminates for
      cause or without the Company’s consent (other than as the result of the
      Participant’s death, disability or retirement) before a Performance Share
      Award has vested, his or her Performance Share Award shall terminate and
      all rights under such Award shall be
forfeited.

            

    

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

    
      	
              c.  

            	
              If
      a Participant’s employment with the Company or a subsidiary terminates as
      the result of his or her disability, (as that term is defined in Section
      409A of the Code or any successor provision), or retirement under any of
      the Company’s retirement plans before a Performance Share Award has
      vested, the Participant shall be entitled to a pro rata Performance Share
      Award, payable solely in cash at the time that the Performance Share Award
      would otherwise be payable under Section 5.  The cash payment
      shall be equal to the Final Share Number calculated in accordance with
      Sections 3 and 5 of this Program, multiplied by the Fair Market Value on
      the last day of the relevant Performance Cycle, multiplied by a fraction
      with a numerator equal to the number of months during the Performance
      Cycle the Participant was employed by the Company or a subsidiary (rounded
      up to the nearest whole month) and a denominator of
  36.

            

    

     

    
      	
              d.  

            	
              If
      a Participant’s employment with the Company or a subsidiary terminates as
      the result of his or her death before a Performance Share Award has
      vested, the Participant shall be entitled to a pro rata Performance Share
      Award, payable solely in cash within ninety (90) days of the Participant’s
      death.  The cash payment shall be equal to the Participant’s
      target number of Performance Shares or Senior Performance Shares, as the
      case may be, multiplied by the Fair Market Value on the date of the
      Participant’s death (or the next trading day, if the Common Stock was not
      traded on such date), multiplied by a fraction with a numerator equal to
      the number of months during the Performance Cycle the Participant was
      employed by the Company or a subsidiary (rounded up to the nearest whole
      month) and a denominator of 36.

            

    

     

    
      	
              e.  

            	
              If
      a Participant’s employment with the Company or a subsidiary terminates for
      any other reason, the Company shall determine the portion, if any, of the
      Performance Share Award that shall not be forfeited, and the form of
      payment (cash or shares or a combination) that the Participant shall
      receive.  That determination shall be made by the Committee in
      the case of any officer, and by the Chairman of the Board, President,
      Chief Executive Officer, or any Vice President, in the case of any
      non-officer employee.  Notwithstanding this Section 4,
      payment shall be made pursuant to Section
5.

            

    

     

    
      	
              5.  

            	
              Payment
      Timing

            

    

     

    
      	
              a.  

            	
              As
      soon as is administratively practicable after the determination of the
      Final Share Number, but not later than the last day of the calendar year
      following the Performance Cycle, the Company will (i) issue to each
      Participant a number of shares of the Common Stock equal to one-half of
      the Final Share Number, rounded down to the nearest whole share if such
      number is not a whole number, and (ii) pay the Participant an amount equal
      to the Fair Market Value of one-half of the Final Share Number of shares
      of Common Stock on the last day of the Performance Cycle, rounded up to
      the nearest whole share if such number is not a whole
    number.

            

    

     

    
      	
              b.  

            	
              No
      dividends or dividend equivalents shall be paid on any Performance Shares
      or Senior Performance Shares.

            

    

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

    
      	
              6.  

            	
              Reserved

            

    

     

    
      	
              7.  

            	
              Miscellaneous

            

    

     

    
      	
              a.  

            	
              By
      acceptance of the Performance Share Award, each Participant agrees that
      such Award is special compensation, and that any amount paid will not
      affect:

            

    

     

    
      	
              i.  

            	
              the
      amount of any pension under any pension or retirement plan in which he or
      she participates as an employee of
Olin,

            

    

     

    
      	
              ii.  

            	
              the
      amount of coverage under any group life insurance plan in which he or she
      participates as an employee of Olin,
or

            

    

     

    
      	
              iii.  

            	
              the
      benefits under any other benefit plan of any kind heretofore or hereafter
      in effect, under which the availability or amount of benefits is related
      to compensation.

            

    

     

    
      	
              b.  

            	
              The
      Company will withhold from the distribution of any cash pursuant to
      Performance Share Awards the amount necessary to satisfy the Participant’s
      federal, state and local withholding tax requirements.  It is
      the Company’s intention that all income tax liability on Performance Share
      Awards be deferred in accordance with the applicable requirements of Code
      Section 409A, until the Participant actually receives such shares or
      payment thereof.

            

    

     

    
      	
              c.  

            	
              To
      the extent any provision of the Program (or any Performance Share Award)
      or action by the Board of Directors or Committee would subject any
      Participant to liability for interest or additional taxes under Code
      Section 409A, it will be deemed null and void, to the extent permitted by
      law and deemed advisable by the Committee.  It is intended that
      the Program (and any Performance Share Award) will comply with Code
      Section 409A, and the Program (and any Performance Share Award) shall be
      interpreted and construed on a basis consistent with such
      intent.  The Program (and any Performance Share Award) may be
      amended in any respect deemed necessary (including retroactively) by the
      Committee in order to preserve compliance with Code Section
      409A.  The preceding shall not be construed as a guarantee of
      any particular tax effect for Program benefits or Performance Share
      Awards.  Except as specifically provided in the LTIP, a
      Participant (or beneficiary) is solely responsible and liable for the
      satisfaction of all taxes and penalties that may be imposed on the
      Participant (or beneficiary) in connection with any distributions to such
      Participant (or beneficiary) under the Program (including any taxes and
      penalties under Code Section 409A), and neither Olin nor any Affiliate
      shall have any obligation to indemnify or otherwise hold a Participant (or
      beneficiary) harmless from any or all of such taxes or
      penalties.

            

    

     

    
      
         

      

      
        4

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