Document:

<PAGE>

                                                                   Exhibit 10.11

                        A.T. MASSEY COAL COMPANY, INC.

                     EXECUTIVE DEFERRED COMPENSATION PLAN

                           Effective August 1, 1995
<PAGE>

                        A.T. MASSEY COAL COMPANY, INC.
                     Executive Deferred Compensation Plan
                           Effective August 1, 1995

                                TABLE OF CONTENTS
                                -----------------

<TABLE>
<CAPTION>
                                                                                          Page
                                                                                          ----
<S>                                                                                       <C>
INTRODUCTION.................................................................................1

ARTICLE I
DEFINITIONS
        1.01. Affiliates.....................................................................2
        1.02. Beneficiary....................................................................2
        1.03. Board..........................................................................2
        1.04. Bonus Award....................................................................2
        1.05. Change of Control..............................................................2
        1.06. Code...........................................................................2
        1.07. Committee......................................................................2
        1.08. Company........................................................................2
        1.09. Deferred Account...............................................................2
        1.10. Deferred Benefit...............................................................3
        1.11. Election Date..................................................................3
        1.12. Election Form..................................................................3
        1.13. Eligible Employee..............................................................3
        1.14. Excess Benefit.................................................................3
        1.15. Excess Benefit Account.........................................................3
        1.16. Incentive Award................................................................3
        1.17. Investment Options.............................................................3
        1.18. Participant....................................................................3
        1.19. Plan...........................................................................3
        1.20. Profit Sharing Plan............................................................3
        1.21. Salary.........................................................................3
        1.22. Terminate, Terminating, or Termination.........................................4

ARTICLE II
PARTICIPATION
        2.01. Excess Benefits................................................................5
        2.02. Salary Deferrals...............................................................5
        2.03. Incentive Award Deferrals......................................................5
        2.04. Bonus Award Deferrals..........................................................5

ARTICLE III
EXCESS BENEFITS
        3.01. Applicability..................................................................6
        3.02. Amount of Benefit..............................................................6

ARTICLE IV
DEFERRAL ELECTIONS
</TABLE>

                                      -i-
<PAGE>

                        A.T. MASSEY COAL COMPANY, INC.
                     Executive Deferred Compensation Plan
                           Effective August 1, 1995

<TABLE>
<S>                                                                                       <C>
        4.01. Amounts Subject to Deferral....................................................7
        4.02. Elections......................................................................7
        4.03. Deferral Periods...............................................................7

ARTICLE V
BENEFITS
        5.01. Accounts.......................................................................9
        5.02. Distributions..................................................................9

ARTICLE VI
INVESTMENT OPTIONS
        6.01. Investment Options............................................................11
        6.02. Election of Investment Options................................................11
        6.03. Method of Crediting Interest Adjustments......................................11

ARTICLE VII
OTHER DISTRIBUTION EVENTS
        7.01. Change of Control.............................................................12
        7.02. Unforeseeable Emergency.......................................................12
        7.03. Withdrawals...................................................................12

ARTICLE VIII
PARTICIPANT RIGHTS IN THE UNFUNDED PLAN

ARTICLE IX
TERMINATION OF EMPLOYMENT
        9.01. Termination of Employment.....................................................15
        9.02. Vesting.......................................................................15
        9.03. Reemployment..................................................................15

ARTICLE X
TERMINATION, AMENDMENT OR MODIFICATION OF PLAN
        10.01. Amendment or Termination.....................................................16
        10.02. Notice Requirement...........................................................16
        10.03. Limitation on Amendment, Termination, etc....................................16
        10.04. Effect of Plan Termination...................................................16

ARTICLE XI
OTHER BENEFITS AND AGREEMENTS

ARTICLE XII
RESTRICTIONS ON TRANSFER OF BENEFITS

ARTICLE XIII
</TABLE>

                                     -ii-
<PAGE>

                        A.T. MASSEY COAL COMPANY, INC.
                     Executive Deferred Compensation Plan
                           Effective August 1, 1995

<TABLE>
<S>                                                                                        <C>
ADMINISTRATION OF THE PLAN
        13.01. The Committee................................................................19
        13.02. Indemnification of the Committee.............................................19
        13.03. Powers of the Committee......................................................19
        13.04. Information..................................................................19

ARTICLE XIV
MISCELLANEOUS
        14.01. Binding Nature...............................................................20
        14.02. Governing Law................................................................20
        14.03. Use of Masculine and Feminine; Singular and Plural...........................20
        14.04. No Guarantee of Employment...................................................20

ARTICLE XV ADOPTION

EXHIBIT I...................................................................................22
PLAN INVESTMENT OPTIONS.....................................................................22
</TABLE>

                                     -iii-
<PAGE>

                        A.T. MASSEY COAL COMPANY, INC.
                     Executive Deferred Compensation Plan
                           Effective August 1, 1995

                                 INTRODUCTION
                                 ------------

     The Board of Directors of A.T. Massey Coal Company, Inc. has adopted the
Executive Deferred Compensation Plan effective August 1, 1995.  The Board
determined that the adoption of the Plan would assist it in attracting and
retaining those employees whose judgment, abilities and experience will
contribute to its continued progress.  The purpose of the Plan is to permit
eligible employees to defer a portion of their salary, bonus and incentive
awards and to provide a benefit for these Employees whose benefits under the
Company's Profit Sharing Plan are limited by the application of section 401 of
the Code.  Eligible Employees are selected by the Committee to participate in
the Plan.

     The Plan is intended to be unfunded and maintained primarily for the
purpose of providing deferred compensation for a "select group of management or
highly compensated employees" (as such phrase is used in the Employee Retirement
Income Security Act of 1974).  The Plan must be administered and construed in a
manner that is consistent with that intent.

                                      -1-
<PAGE>

                        A.T. MASSEY COAL COMPANY, INC.
                     Executive Deferred Compensation Plan
                           Effective August 1, 1995

                                   ARTICLE I

                                  DEFINITIONS
                                  -----------

       The following phrases or terms have the indicated meanings:

1.01.  Affiliate means (i) any entity that is a member of a controlled group of
       ---------
corporations as defined in Code section 1563(a), determined without regard to
Code sections 1563(a)(4) and 1563(e)(3)(c), of which the Company is a member
according to Code section 414(b); (ii) an unincorporated trade or business that
is under common control with the Company as determined according to Code section
414(c); (iii) a member of an affiliated service group of which the Company is a
member according to Code section 414(m); or (iv) any entity required to be
aggregated according to Code section 414(o).

1.02.  Beneficiary means the person, persons, entity, entities or the estate of
       -----------
a Participant, who is designated by the Participant on a form provided by the
Company to receive benefits on account of the Participant's death, or in the
absence of any designation, the personal representative of the Participant's
estate.

1.03.  Board means the Board of Directors of A.T. Massey Coal Company, Inc.
       -----

1.04.  Bonus Award shall mean any bonus, pay adjustment, or other similar
       -----------
payment from the Company.

1.05.  Change of Control shall be deemed to have occurred if, (i) a third
       -----------------
person, including a "group" as defined in Section 13(d)(3) of the Securities
Exchange Act of 1934, acquires shares of Fluor Corporation having 25% or more of
the total number of votes that may be cast for the election of directors of
Fluor Corporation; or (ii) as the result of any cash tender or exchange offer,
merger or other business combination or any combination of the foregoing
transactions (a "Transaction"), the persons who were directors of Fluor
Corporation or the Company before the Transaction shall cease to constitute a
majority of the Board of Directors of the Company or Fluor Corporation or any
successor to the Company or Fluor Corporation.

1.06.  Code means the Internal Revenue Code of 1986, as amended.
       ----

1.07.  Committee means the Executive Benefit Committee appointed by the Board
       ---------
which shall, in accordance with the provisions of Article XII hereof, be
responsible for the management and administration of the Plan.

1.08.  Company means A.T. Massey Coal Company, Inc.
       -------

1.09.  Deferred Account means a bookkeeping record established for each
       ----------------
Participant who elects to receive a Deferred Benefit. A Deferred Account shall
be established only for purposes of measuring a Deferred Benefit and not to
segregate assets or to identify assets that may be used

                                      -2-
<PAGE>

                        A.T. MASSEY COAL COMPANY, INC.
                     Executive Deferred Compensation Plan
                           Effective August 1, 1995

to satisfy a Deferred Benefit. A Deferred Account shall be credited with that
amount of a Participant's Salary, Bonus Award or Incentive Award deferred as a
Deferred Benefit according to a Participant's Election Form. A Deferred Account
also shall be credited periodically with interest under Plan Article VI.

1.10.  Deferred Benefit means the benefit available to an Eligible Employee who
       ----------------
has executed a valid Election Form to defer his Salary, Bonus Award or Incentive
Award.

1.11.  Election Date means the date by which an Eligible Employee must submit a
       -------------
valid Election Form. An Eligible Employee's Election Date shall be a date that
is fifteen days prior to the payroll period for which his Salary will be reduced
or, for a Bonus Award or Incentive Award deferred, the date specified in Plan
Section 4.02.

1.12.  Election Form means the form that a Participant uses to elect to receive
       -------------
a Deferred Benefit pursuant to Plan section 4.01. A Participant's distribution
election, investment election and Beneficiary designation are part of the
Participant's Election Form.

1.13.  Eligible Employee means an individual who (i) is employed by the Company
       -----------------
or an Affiliate; and (ii) is a member of management or is a highly compensated
employee.

1.14.  Excess Benefit means the benefit available to an Eligible Employee
       --------------
pursuant to Plan section 3.02.

1.15.  Excess Benefit Account means the bookkeeping record established for each
       ----------------------
Participant who is entitled to receive an Excess Benefit. An Excess Benefit
Account shall be established only for purposes of measuring an Excess Benefit
and not to segregate or to identify assets that may be used to satisfy an Excess
Benefit. An Excess Benefit Account also shall be credited periodically with
interest under Plan Article VI.

1.16.  Incentive Award means any cash award made pursuant to the terms of the
       ---------------
Fluor Special Executive Incentive Plan.

1.17.  Investment Options shall mean the investment options shown on Exhibit I.
       ------------------

1.18.  Participant means an Eligible Employee who satisfies the requirements for
       -----------
participation set forth in Article II. An individual shall remain a Participant
only so long as the individual remains an Eligible Employee and he continues to
satisfy such requirements.

1.19.  Plan means the A.T. Massey Coal Company, Inc. Executive Deferred
       ----
Compensation Plan.

1.20.  Profit Sharing Plan means the Coal Company Salary Deferral and Profit
       -------------------
Sharing Plan.

1.21.  Salary means a Participant's base salary and does not include
       ------
commissions, bonuses or other irregular payments from the Company.

                                      -3-
<PAGE>

                        A.T. MASSEY COAL COMPANY, INC.
                     Executive Deferred Compensation Plan
                           Effective August 1, 1995

1.22.  Terminate, Terminating, or Termination with respect to a Participant,
       --------------------------------------
mean the cessation of his employment with the Company on account of death,
disability, severance or any other reason.

                                      -4-
<PAGE>

                        A.T. MASSEY COAL COMPANY, INC.
                     Executive Deferred Compensation Plan
                           Effective August 1, 1995

                                  ARTICLE II

                                 PARTICIPATION
                                 -------------

2.01.  Excess Benefits
       ---------------

       The Committee shall designate the Eligible Employees who are entitled to
accrue Excess Benefits under the Plan and shall determine the date such Eligible
Employees may begin participation.  A Participant shall continue to participate
until such date as the Committee may declare he is no longer a Participant
entitled to accrue Excess Benefits or until the date that he is no longer an
Eligible Employee.

2.02.  Salary Deferrals
       ----------------

       The Committee shall select the Eligible Employees who are entitled to
defer all or a portion of their Salary pursuant to the provisions of Plan
section 4.02(a).

2.03.  Incentive Award Deferrals
       -------------------------

       Any Eligible Employee who earns an Incentive Award which becomes payable
after the Effective Date will  be entitled to defer such Incentive Award or
portion thereof pursuant to the provisions of Plan section 4.02(b).

2.04.  Bonus Award Deferrals
       ---------------------

       The Committee shall select the Eligible Employees who are entitled to
defer all or a portion of their Bonus Award pursuant to the provisions of Plan
section 4.02(c).

                                     -5-
<PAGE>

                        A.T. MASSEY COAL COMPANY, INC.
                     Executive Deferred Compensation Plan
                           Effective August 1, 1995

                                  ARTICLE III

                                EXCESS BENEFITS
                                ---------------

3.01.  Applicability
       -------------

       This Article III applies only to those Participants who are eligible for
an Excess Benefit pursuant to Plan section 2.01.

3.02.  Amount of Benefit
       -----------------

       As of each December 31, the Company shall credit the Excess Benefit
Account of each Eligible Employee with an amount equal to the sum of:

       (a) the excess of the amount of Company matching contributions which
would have been made to the account of such Eligible Employee for such calendar
year under the Profit Sharing Plan, if such Eligible Employee had received a
matching Company contribution at the percentage rate applicable to non-highly
compensated participants, over the actual amount of Company matching
contributions allocated to his accounts for such calendar year; plus

       (b) the amount of Company matching contributions which would have been
made to the account of such Eligible Employee for such calendar year under the
Profit Sharing Plan, but for the limitations imposed by Code sections 401(a)(17)
and 415, if the Employee had contributed to the Profit Sharing Plan the amounts
deferred under Article IV of this Plan and received a Company matching
contribution at the percentage rate applicable to non-highly compensated
participants; provided, however, that in no event shall any Company matching
contribution apply to amounts deferred, in excess of ten percent of the Eligible
Employee's total cash compensation (Salary, Bonus Awards and Incentive Awards
combined), minus amounts contributed by the Eligible Employee under the Profit
Sharing Plan.  Interest shall accrue on a Participant's Excess Benefit Account
in accordance with Article VI.

                                     -6-
<PAGE>

                        A.T. MASSEY COAL COMPANY, INC.
                     Executive Deferred Compensation Plan
                           Effective August 1, 1995

                                  ARTICLE IV

                              DEFERRAL ELECTIONS
                              ------------------

4.01.  Amounts Subject to Deferral
       ---------------------------

       Subject to the effect of any previously authorized or required
deductions, reductions or income or employment tax withholdings applicable to
such compensation, an Eligible Employee may elect to defer all or any portion of
his Salary, any Incentive Award or any Bonus Award.

4.02.  Elections
       ---------

       (a) Salary Deferrals.  The amount of Salary to be deferred for future
           ----------------
payroll periods must be specified by the Eligible Employee on an Election Form
to his corporate employer as a fixed percentage of Salary.  A deferral election
shall be effective with the first payroll period beginning after receipt of the
properly completed Election Form by the Company and will continue in effect
until a subsequent election or termination of the election is received by the
Company.  Any change or revocation in any Eligible Employee's deferral election
shall be effective as of the first payroll period beginning after receipt of
such election or revocation.  A deferral election may not be changed, revoked or
re-initiated for at least six months after the date of his most recent deferral
election, change or revocation.

       (b) Incentive Awards Deferrals. The amount of any Incentive Award to be
           --------------------------
deferred must be specified by the Eligible Employee in writing on an Election
Form to his corporate employer no later than the end of the Company's fiscal
year for which performance is measured in determining the amount of the
Incentive Award. The amount to be deferred may be a fixed dollar amount or a
percentage of the Incentive Award. Such amount or percentage, once specified, is
irrevocable as to such Incentive Award.

       (c) Bonus Award Deferrals. The amount of any Bonus Award to be deferred
           ---------------------
must be specified by the Eligible Employee in writing on an Election Form to his
corporate employer no later than the beginning of the payroll period during
which such Bonus Award would otherwise become payable; provided, however, that
such Election Form must be completed prior to the date on which a Bonus Award is
declared. The amount to be deferred may be a fixed dollar amount or a percentage
of the Bonus Award. Such amount or percentage, once specified, is irrevocable as
to such Bonus Award.

4.03.  Deferral Periods
       ----------------

       Unless otherwise specified by the Eligible Employee at the time of
deferral election, payment of such amounts shall be deferred until such Eligible
Employee's Termination. The Eligible Employee may specify a deferral period
which may not extend beyond the date upon which such Eligible Employee reaches
age 70 1/2. If a specific deferral period has been selected,

                                      -7-
<PAGE>

                        A.T. MASSEY COAL COMPANY, INC.
                     Executive Deferred Compensation Plan
                           Effective August 1, 1995

the deferral period shall end upon the earlier to occur of (i) the Eligible
Employee's Termination or (ii) expiration of the specified deferral period.

                                      -8-
<PAGE>

                        A.T. MASSEY COAL COMPANY, INC.
                     Executive Deferred Compensation Plan
                           Effective August 1, 1995

                                   ARTICLE V

                                   BENEFITS
                                   --------

5.01.  Accounts
       --------

       (a) Deferred Benefit Account.  Deferred Benefits shall be credited to a
           ------------------------
Deferred Account as of the last day of the payroll period in which the deferred
Salary would have been paid and with respect to any Bonus or Incentive Award, as
of the date such award is payable to the Eligible Employee. Interest shall
accrue monthly on the balance in a Deferred Account as described in Article VI.

       (b) Excess Benefit Account.  Excess Benefits shall be credited to an
           ----------------------
Excess Benefit Account as of the time specified in Article III.  Interest shall
accrue monthly on the balance in a Excess Benefit Account as described in
Article VI.

5.02.  Distributions
       -------------

       (a) All Deferred Benefits and Excess Benefits, less withholding for
applicable income and employment taxes, shall be paid in cash on the date
specified in the Participant's Election Form.

       (b) Deferred Benefits and Excess Benefits shall be paid in a lump sum
unless the Participant's Election Form specifies annual installment payments
over a period of up to twenty years. Installment payments will be made in
approximately equal amounts during each year of the installment period. For a
Deferred Benefit or an Excess Benefit payable in installments, interest under
Article VI shall continue to accrue on the unpaid balance of a Deferred Account
or Excess Benefit Account, as applicable.

       Unless otherwise specified in a Participant's Election Form, any lump sum
payment shall be paid or installment payments shall begin January 31, of the
year after the Participant's Termination.

       (c) Notwithstanding any other provision of this Plan or a Participant's
Election Form, the Committee in its sole discretion may postpone the
distribution of all or part of a Deferred Benefit or Excess Benefit to the
extent that the payment would not be deductible under Code section 162(m). A
Deferred Benefit of Excess Benefit distribution that is postponed pursuant to
the preceding sentence shall be paid as soon as it is possible to do so within
the deduction limitations of Code section 162(m).

       (d) A Participant or Beneficiary may not assign Deferred Benefits or
Excess Benefits.  Only one Beneficiary designation form may be effective at any
one time to designate one or more Beneficiaries for all of his Deferred Benefits
or Excess Benefits under the Plan.  Such designations are revocable.  Each
Beneficiary shall receive his portion of the Participant's

                                      -9-
<PAGE>

                        A.T. MASSEY COAL COMPANY, INC.
                     Executive Deferred Compensation Plan
                           Effective August 1, 1995

Deferred Account and the Participant's Excess Benefit Account, as applicable, on
January 31 of the year following the Participant's death. The Committee may
insist that multiple Beneficiaries agree upon a single distribution method.

                                     -10-
<PAGE>

                        A.T. MASSEY COAL COMPANY, INC.
                     Executive Deferred Compensation Plan
                           Effective August 1, 1995

                                  ARTICLE VI

                              INVESTMENT OPTIONS
                              ------------------

6.01.  Investment Options
       ------------------

       The Company has selected the Investment Options described in Exhibit I
any of which may be changed, modified or deleted, or additional investment
options may be added, from time to time by the Committee.

6.02.  Election of Investment Options
       ------------------------------

       (a) At the time that an Eligible Employee first becomes a Participant,
the Participant shall allocate deferrals among the Investment Options.  Such
Investment Options will be used as a measure of the investment performance of
his Deferred Account and his Excess Benefit Account, if applicable.  A
Participant may specify that all or any 10% multiple of his Deferred Account and
his Excess Benefit Account, if applicable, be deemed to be invested in one or
more of the Investment Options.

       (b) A Participant may reallocate the Investment Options for his Deferred
Account and his Excess Benefit Account once every six months in 10% multiples.
Any reallocation will be effective as of the first day of the month following
the month in which an appropriately completed form is received by the Committee.
Until a Participant delivers a new Investment Option form to the Committee, his
prior Investment Options shall control. If a Participant fails to select an
Investment Option for his Deferred Account and his Excess Benefit Account, he
shall be deemed to have elected the Treasury Bill Option.

6.03.  Method of Crediting Interest Adjustments
       ----------------------------------------

       Interest will be credited to a Participant's Deferred Account and his
Excess Benefit Account as follows: As of the last day of each month in which any
amount remains credited to the Deferred Account or the Excess Benefit Account of
a Participant, each portion of such accounts deemed invested in a particular
Investment Option shall either be credited or debited with an amount equal to
that determined by multiplying the balance of such portion of such account as of
the last day of the preceding month by the return rate for that month for the
applicable Investment Option.  As to the applicable amount distributed, the
Company shall ~ crediting or debiting adjustments to the Participant's Deferred
Account or his Excess Benefit Account on the last day of the month of the date
of distribution.

                                     -11-
<PAGE>

                        A.T. MASSEY COAL COMPANY, INC.
                     Executive Deferred Compensation Plan
                           Effective August 1, 1995

                                  ARTICLE VII

                           OTHER DISTRIBUTION EVENTS
                           -------------------------

7.01.  Change of Control
       -----------------

       Notwithstanding any other provision of this Plan, if a Participant's
employment with the Company or its subsidiaries Terminates for any reason other
than death, within the two-year period beginning on the date that a Change of
Control occurs, then the Company shall pay to the Participant within the first
15 days of the month following such termination a lump sum distribution of his
Deferred Account and his Excess Benefit Account.  If the Participant dies after
Termination but before payment of any amount under this Plan section, then such
amount shall be paid to the Beneficiary within the first 15 days of the month
following the Participant's death.

7.02.  Unforeseeable Emergency
       -----------------------

       (a) A distribution of a portion of a Participant's Deferred Account or
Excess Benefit Account because of an Unforeseeable Emergency will be permitted
only to the extent required by the Participant to satisfy the emergency need.
Whether an Unforeseeable Emergency has occurred will be determined solely by the
Committee.  Distributions in the event of a Unforeseeable Emergency may be made
by and with the approval of the Committee upon written request by a Participant.

       (b)  An "Unforeseeable Emergency" is defined as a severe financial
hardship to the Participant caused by sudden or unexpected illness or accident
of the Participant or of a dependent of the Participant (as defined in Code
section 152(a)), a loss of the Participant's property due to casualty, or other
extraordinary and unforeseeable circumstances caused by a result of events
beyond the Participant's control. The circumstances that will constitute an
Unforeseeable Emergency will depend upon the facts of each case, but, in any
event, any distribution under this Plan section shall not exceed the amount
required by the Participant to satisfy the Unforeseeable Emergency after (i)
reimbursement or compensation through insurance or otherwise, (ii) liquidation
of the Participant's assets, to the extent such liquidation would not itself
cause a severe financial hardship, or (iii) suspension of deferrals under the
Plan.

7.03.  Withdrawals
       -----------

       A Participant may elect by filing with the Company a form specified by
the Committee, to receive an amount equal to 90% of his Deferred Account or
Excess Benefit Account at any time prior to his Termination. The amount of any
withdrawal shall be distributed to the Participant in a single lump sum as soon
as administratively practical following such election. If a Participant makes an
election described in this Plan section, the balance of the Participant's
Deferred Account or Excess Benefit Account not distributed to the Participant
shall be forfeited to the Company. In addition, the Participant shall be
prohibited from making a Salary deferral

                                     -12-
<PAGE>

                        A.T. MASSEY COAL COMPANY, INC.
                     Executive Deferred Compensation Plan
                           Effective August 1, 1995

for the balance of the year in which this distribution is made and for the
following year. Any elections previously made pursuant to Plan section 4.01
shall cease to be effective.

                                     -13-
<PAGE>

                        A.T. MASSEY COAL COMPANY, INC.
                     Executive Deferred Compensation Plan
                           Effective August 1, 1995

                                 ARTICLE VIII

                    PARTICIPANT RIGHTS IN THE UNFUNDED PLAN
                    ---------------------------------------

     The Company has only a contractual obligation to pay the benefits described
in Article III and V.  All benefits are to be satisfied solely out of the
general corporate assets of the Company which shall remain subject to the claims
of its creditors.  No assets of the Company will be segregated or committed to
the satisfaction of its obligations to any Participant or Beneficiary under this
Plan.

                                     -14-
<PAGE>

                        A.T. MASSEY COAL COMPANY, INC.
                     Executive Deferred Compensation Plan
                           Effective August 1, 1995

                                  ARTICLE IX

                           TERMINATION OF EMPLOYMENT
                           -------------------------

9.01.  Termination of Employment
       -------------------------

       Except as provided in Plan section 9.02, a Participant who ceases to be
an Eligible Employee or whose employment with the Company and its Affiliates is
terminated either with or without cause for reasons other than death or
retirement, shall immediately cease to be a Participant under this Plan and
shall forfeit all rights under this Plan. Further, except as provided in Plan
section 9.02, in no event shall an individual who was a Participant but is not a
Participant at the time of such individual's death or retirement, have any
rights under the Plan. A Participant on authorized leave of absence from the
Company shall not be deemed to have terminated employment or lost his status as
an Eligible Employee for the duration of such leave of absence.

9.02.  Vesting
       -------

       A Participant's right to amounts credited to his Deferred Account and his
Excess Benefit Account are always fully vested and nonforfeitable.

9.03.  Reemployment
       ------------

       A Participant who ceases to be an employee of the Company and who is
subsequently reemployed by the Company shall not accrue any additional benefits
on account of such later service for periods in which he is not a Participant.

                                     -15-
<PAGE>

                        A.T. MASSEY COAL COMPANY, INC.
                     Executive Deferred Compensation Plan
                           Effective August 1, 1995

                                   ARTICLE X

                TERMINATION, AMENDMENT OR MODIFICATION OF PLAN
                ----------------------------------------------

10.01.  Amendment or Termination
        ------------------------

        Except as otherwise specifically provided, the Company reserves the
right to terminate, amend or modify this Plan, wholly or partially, at any time
and from time to time. Such right to terminate, amend or modify the Plan shall
be exercised by the Board.

10.02.  Notice Requirement
        ------------------

        (a) Plan section 10.01 notwithstanding, no action to terminate the Plan
shall be taken except upon written notice to each Participant to be affected
thereby, which notice shall be given not less than 30 days prior to such action.

        (b) Any notice which shall be or may be given under the Plan shall be
in writing and shall be mailed by United States mail, postage prepaid.  If
notice is to be given to the Company such notice shall be addressed to it at 4
North Fourth Street, Richmond, Virginia 23219; addressed to the attention of the
Senior Vice President and General Counsel If notice is to be given to a
Participant, such notice shall be addressed to the Participant's last known
address.

10.03.  Limitation on Amendment, Termination, etc.
        ------------------------------------------

        The rights of the Company set forth in Plan section 10.01 are subject to
the condition that the Board or its delegate shall take no action to amend or
terminate the Plan if such amendment or termination would decrease the benefit
that has commenced prior to the effective date of the amendment or termination
or would become payable if the Participant terminated for any reason (other than
for cause) including death, on such effective date.

10.04.  Effect of Plan Termination
        --------------------------

        Except as provided in Plan sections 10.01 and 10.03 and in the following
sentence, upon the termination of this Plan by the Board, the Plan shall no
longer be of any further force or effect, and neither the Company, any Affiliate
nor any Participant shall have any further obligation or right under this Plan.
Likewise, the rights of any individual who was a Participant and whose
designation as a Participant is revoked or rescinded by the Committee shall
cease upon such action except with respect to benefits that have accrued for
such individual as of the date of revocation or rescission.

                                     -16-
<PAGE>

                        A.T. MASSEY COAL COMPANY, INC.
                     Executive Deferred Compensation Plan
                           Effective August 1, 1995

                                  ARTICLE XI

                         OTHER BENEFITS AND AGREEMENTS
                         -----------------------------

     The benefits provided for a Participant and his Beneficiary under the Plan
are in addition to any other benefits available to such Participant under any
other plan or program of the Company for its employees, and, except as may
otherwise be expressly provided for, the Plan shall supplement and shall not
supersede, modify or amend any other plan or program of the Company in which a
Participant is participating.

                                     -17-
<PAGE>

                        A.T. MASSEY COAL COMPANY, INC.
                     Executive Deferred Compensation Plan
                           Effective August 1, 1995

                                  ARTICLE XII

                     RESTRICTIONS ON TRANSFER OF BENEFITS
                     ------------------------------------

      No right or benefit under the Plan shall be subject to anticipation,
alienation, sale, assignment, pledge, encumbrance or charge, and any attempt to
do so shall be void.  No right or benefit hereunder shall in any manner be
liable for or subject to the debts, contracts, liabilities, or torts of the
person entitled to such benefit.  If any Participant or Beneficiary under the
Plan should become bankrupt or attempt to anticipate, alienate, sell, assign,
pledge, encumber or charge any right to a benefit hereunder, then such right or
benefit, in the discretion of the Committee, shall cease and terminate, and, in
such event, the Committee may hold or apply the same or any part thereof for the
benefit of such Participant or Beneficiary, his or her spouse, children, or
other dependents, or any of them, in such manner and in such portion as the
Committee may deem proper.

                                     -18-
<PAGE>

                        A.T. MASSEY COAL COMPANY, INC.
                     Executive Deferred Compensation Plan
                           Effective August 1, 1995

                                  ARTICLE XIII

                           ADMINISTRATION OF THE PLAN
                           --------------------------

13.01.    The Committee
          -------------

          The Plan shall be administered by the Committee. Subject to the
provisions of the Plan, the Committee may adopt such rules and regulations as
may be necessary to carry out the purposes hereof. The Committee's
interpretation and construction of any provision of the Plan shall be final and
conclusive.

13.02.    Indemnification of the Committee
          --------------------------------

          The Company shall indemnify and save harmless each member of the
Committee against any and all expenses and liabilities arising out of membership
on the Committee, excepting only expenses and liabilities arising out of a
member's own willful misconduct. Expenses against which a member of the
Committee shall be indemnified hereunder shall include without limitation, the
amount of any settlement or judgment, costs, counsel fees, and related charges
reasonably incurred in connection with a claim asserted, or a proceeding brought
or settlement thereof. The foregoing right of indemnification shall be in
addition to any other rights to which any such member may be entitled.

13.03.    Powers of the Committee
          -----------------------

          In addition to the powers hereinabove specified, the Committee shall
have the power to compute and certify the amount and kind of benefits from time
to time payable to Participants and their Beneficiaries under the Plan, to
authorize all disbursements for such purposes, and to determine whether a
Participant is entitled to a benefit under the Plan.

13.04.    Information
          -----------

          To enable the Committee to perform its functions, the Company shall
supply full and timely information to the Committee on all matters relating to
the compensation of all Participants, their retirement, death or other cause for
termination of employment, and such other pertinent facts as the Committee may
require.

                                     -19-
<PAGE>

                        A.T. MASSEY COAL COMPANY, INC.
                     Executive Deferred Compensation Plan
                           Effective August 1, 1995

                                  ARTICLE XIV

                                 MISCELLANEOUS
                                 -------------

14.01.    Binding Nature
          --------------

          The Plan shall be binding upon the Company, any participating
Affiliates and its successors and assigns, subject to the provisions set forth
in Article X, and upon a Participant, his or her Beneficiary, and either of
their assigns, heirs, executors and administrators.

14.02.    Governing Law.
          -------------

          To the extent not preempted by federal law, the Plan shall be governed
and construed under the laws of the Commonwealth of Virginia (including its
choice of law rules, except to the extent those rules would require the
application of the law of a state other than Virginia) as in effect at the time
of their adoption and execution, respectively.

14.03.    Use of Masculine and Feminine; Singular and Plural
          --------------------------------------------------

          Masculine pronouns wherever used shall include feminine pronouns and
the use of the singular shall include the plural.

14.04.    No Guarantee of Employment
          --------------------------

          The Plan does not in any way limit the right of the Company or an
Affiliate at any time and for any reason to terminate the Participant's
employment or such Participant's status as an Eligible Employee. In no event
shall the Plan, by its terms or by implication, constitute an employment
contract of any nature whatsoever between the Company or an Affiliate and a
Participant.

                                     -20-
<PAGE>

                        A.T. MASSEY COAL COMPANY, INC.
                     Executive Deferred Compensation Plan
                           Effective August 1, 1995

                                  ARTICLE XV

                                   ADOPTION
                                   --------

     The Company has adopted this Plan pursuant to action taken by the Board.

     As evidence of its adoption of the Plan, A.T. Massey Coal Company, Inc. has
caused this document to be signed by its Senior Vice President, this 10/th/ day
of August, 1995, effective August 1, 1995.

                                        A.T. MASSEY COAL COMPANY, INC.

                                        By: ____________________________

                                     -21-
<PAGE>

                        A.T. MASSEY COAL COMPANY, INC.
                     EXECUTIVE DEFERRED COMPENSATION PLAN
                           Effective August 1, 1995

                                   EXHIBIT I
                                   ---------

                            PLAN INVESTMENT OPTIONS

     The following summarizes the investment characteristics of the Plan
investment options.

<TABLE>
<CAPTION>
                                       Nature of Primary                   Investment
                                          Investments                       Objective
<S>                           <C>                                     <C>
Money Market Fund             .    Short maturity U.S.                This fund seeks to provide
                                   Treasuries                         participants with stability of
                              .    Certificates of Deposit            principal, current income and
                                   (CDs)                              liquidity.
                              .    Other money market
                                   securities--i.e., commercial
                                   paper, time deposits,
                                   bankers' acceptances, etc.

Interest Income Plus          .    Government Bonds (U.S. and         This fund is designed to
Fund                               Non-U.S.)                          provide moderate income with
                              .    Corporate Bonds (U.S. and          modest volatility over a long
                                   Non-U.S.)                          time horizon through
                              .    Bank and Insurance                 investment in
                                   Company Contracts                  short-intermediate term bonds
                              .    Asset-Backed Investments           of predominantly U.S. issuers.
                                                                      The investments held within
                                                                      this fund's portfolio will
                                                                      typically have maturities
                                                                      ranging from 1-5 years.

Global Diversified            .    U.S. and Non-U.S. Equity and       This fund is designed to
Fund                               Fixed Income                       provide capital growth and
                                   securities--common,                income through investment in a
                                   convertible, and preferred         portfolio of global
                                   stocks and bonds (may include      diversified assets. The fund
                                   Fluor Stock)                       seeks to achieve its goal with
</TABLE>

                                                      -22-
<PAGE>

                        A.T. MASSEY COAL COMPANY, INC.
                     Executive Deferred Compensation Plan
                           Effective August 1, 1995

<TABLE>
<CAPTION>
                                       Nature of Primary                   Investment
                                          Investments                       Objective

<S>                           <C>                                     <C>
                              .    Real Estate                        a moderate amount of price
                              .    Private Equity/Venture             fluctuation.
                                   Capital
                              .    Short-term reserves--cash
                                   investments

Global Diversified            .    U.S. and Non-U.S. Equity           The objective of this fund is
Plus Fund                          and Fixed Income                   to provide aggressive capital
                                   securities--common,                growth and income through
                                   convertible, and preferred         investment in a portfolio of
                                   stocks and bonds (may include      global diversified assets.
                                   Fluor Stock)                       While the asset classes this
                              .    Real Estate                        fund invests in are the same
                              .    Private Equity/Venture             as those included in the
                                   Capital                            Global Diversified Fund, as
                              .    Short-term reserves--cash          described earlier, this fund
                                   investments                        seeks to achieve even higher
                                                                      returns by allowing heavier
                                                                      concentrations in any one type
                                                                      of investment-leading to
                                                                      greater potential short-term
                                                                      price fluctuations (or
                                                                      volatility).  In addition, to
                                                                      provide additional long-term
                                                                      income, this fund also at
                                                                      times will attempt to take
                                                                      advantage of differentials in
                                                                      the short-term markets by
                                                                      making opportunistic
                                                                      investment decisions.  Both
                                                                      long and/or short positions
                                                                      may be held among the various
                                                                      asset classes.
</TABLE>

                                     -23-
<PAGE>

                        A.T. MASSEY COAL COMPANY, INC.
                     Executive Deferred Compensation Plan
                           Effective August 1, 1995

                                   EXHIBIT I

              PARTICIPANTS IN THE A.T. MASSEY COAL COMPANY, INC.
                     EXECUTIVE DEFERRED COMPENSATION PLAN

                                     -24-
<PAGE>

                        A.T. MASSEY COAL COMPANY, INC.
                     Executive Deferred Compensation Plan
                           Effective August 1, 1995

                                   EXHIBIT I

         ADDITIONAL PARTICIPANTS IN THE A.T. MASSEY COAL COMPANY, INC.
                     EXECUTIVE DEFERRED COMPENSATION PLAN

                                     -25-
<PAGE>

                        A.T. MASSEY COAL COMPANY, INC.
                     Executive Deferred Compensation Plan
                           Effective August 1, 1995

                                   EXHIBIT I

         ADDITIONAL PARTICIPANTS IN THE A.T. MASSEY COAL COMPANY, INC.
                     EXECUTIVE DEFERRED COMPENSATION PLAN

                                     -26-
<PAGE>

                        A.T. MASSEY COAL COMPANY, INC.
                     Executive Deferred Compensation Plan
                           Effective August 1, 1995

                                   EXHIBIT I

         ADDITIONAL PARTICIPANTS IN THE A.T. MASSEY COAL COMPANY, INC.
                     EXECUTIVE DEFERRED COMPENSATION PLAN

                                     -27-
<PAGE>

                        A.T. MASSEY COAL COMPANY, INC.
                     Executive Deferred Compensation Plan
                           Effective August 1, 1995

                         A.T. Massey Coal Company, Inc.
               Executive Deferred Compensation Plan Participants

         Participants            Approved Participants      Additional Approved
    As of January 1, 1998       As of November 11, 1998      Participants As of
                                                             November 13, 1998
                                     -28-

<PAGE>

                        A.T. MASSEY COAL COMPANY, INC.
                     Executive Deferred Compensation Plan
                           Effective August 1, 1995

                                     -29-
<PAGE>

                        A.T. MASSEY COAL COMPANY, INC.
                     Executive Deferred Compensation Plan
                           Effective August 1, 1995

                                     -30-<PAGE>

                                                                 EXHIBIT 10.12

                             MASSEY ENERGY COMPANY

                        1997 RESTRICTED STOCK PLAN FOR

                            NON-EMPLOYEE DIRECTORS

              As Amended and Restated Effective November 30, 2000
<PAGE>

                             MASSEY ENERGY COMPANY
             1997 RESTRICTED STOCK PLAN FOR NON-EMPLOYEE DIRECTORS
              As Amended and Restated Effective November 30, 2000

                                   ARTICLE I
                                  DEFINITIONS

Section 1.1.  DEFINITIONS
              -----------

     The following terms shall have the meanings set forth herein unless the
context clearly indicates to the contrary:

     (a) "Age for Board Retirement" shall mean the age for mandatory retirement
     of members of the Board as specified in the Bylaws of the Company, as
     applied to Eligible Directors on the date of such Eligible Director's
     retirement from the Board.

     (b) "Award" shall mean an award of Restricted Stock pursuant to the
     provisions of Article V hereof.

     (c) "Awardee" shall mean an Eligible Director to whom Restricted Stock has
     been awarded hereunder.

     (d) "Board" shall mean the Board of Directors of the Company.

     (e) "Change of Control" of the Company shall be deemed to have occurred if,
     (i) a third person, including a "group" as defined in Section 13(d)(3) of
     the Securities Exchange Act of 1934, acquires shares of the Company having
     twenty-five percent or more of the total number of votes that may be cast
     for the election of directors of the Company; or (ii) as the result of any
     cash tender or exchange offer, merger or other business combination, or any
     combination of the foregoing transactions (a "Transaction"), the persons
     who were directors of the Company before the Transaction shall cease to
     constitute a majority of the Board of the Company or any successor to the
     Company.

     (f) "Committee" shall mean members of the Board who are not eligible to
     participate in the Plan.

     (g) "Company" shall mean Massey Energy Company.

     (h) "Eligible Director" shall mean a director of the Company who is not an
     employee of the Company or any of its Subsidiaries.

     (i) "Plan" shall mean the 1997 Massey Energy Company Restricted Stock Plan
     for Non-Employee Directors as amended and restated effective November 30,
     2000, the current terms of which are set forth herein.

     (j) "Plan Effective Date" shall mean the Plan's original effective date
     which was March 11, 1997.  The effective date of this amended and restated
     Plan is November 30, 2000.

                                       1
<PAGE>

                             MASSEY ENERGY COMPANY
             1997 RESTRICTED STOCK PLAN FOR NON-EMPLOYEE DIRECTORS
              As Amended and Restated Effective November 30, 2000

     (k) "Restricted Stock" shall mean Stock that may be awarded to an Eligible
     Director by the Committee pursuant to Article V hereof, which is
     nontransferable and subject to a substantial risk of forfeiture until
     specific conditions are met.

     (l) "Restricted Stock Agreement" shall mean the agreement between the
     Company and the Awardee with respect to Restricted Stock awarded hereunder.

     (m) "Stock" shall mean the Common Stock of the Company or, in the event
     that the outstanding shares of Stock are hereafter changed into or
     exchanged for shares of a different stock or securities of the Company or
     some other corporation, such other stock or securities.

     (n) "Subsidiary" shall mean any corporation, the majority of the
     outstanding capital stock of which is owned, directly, or indirectly, by
     the Company or any partnership or joint venture in which either the Company
     or such a corporation is at least a twenty percent (20%) equity
     participant.

                                  ARTICLE II
                                    GENERAL

Section 2.1.  NAME
              ----

     This Plan shall be known as the "Massey Energy Company 1997 Restricted
Stock Plan for Non-Employee Directors."

Section 2.2.  PURPOSE
              -------

     The purpose of the Plan is to advance the interests of the Company and its
stockholders by affording to Eligible Directors of the Company an opportunity to
acquire or increase their proprietary interest in the Company by the grant to
such directors of Awards under the terms set forth herein. By encouraging non-
employee directors to become owners of Company shares, the Company seeks to
increase their incentive for enhancing stockholder value and to motivate, retain
and attract those highly competent individuals upon whose judgment, initiative,
leadership and continued efforts the success of the Company in large measure
depends.

Section 2.3.  EFFECTIVE DATE
              --------------

     The Plan was effective on March 11, 1997 upon its approval by the holders
of a majority of the shares of Stock of Fluor Corporation represented at an
annual or special meeting of the stockholders of Fluor Corporation. The
effective date of this amended and restated Plan is November 30, 2000.

                                       2
<PAGE>

                             MASSEY ENERGY COMPANY
             1997 RESTRICTED STOCK PLAN FOR NON-EMPLOYEE DIRECTORS
              As Amended and Restated Effective November 30, 2000

Section 2.4.  LIMITATIONS
              -----------

     Subject to adjustment pursuant to the provisions of Section 8.1 hereof, the
aggregate number of shares of Stock which may be issued as Awards shall not
exceed 60,000. Any such shares may be either authorized and unissued shares or
shares issued and thereafter acquired by the Company.

Section 2.5.  AWARDS GRANTED UNDER PLAN
              -------------------------

     Shares of Stock received pursuant to a Restricted Stock Agreement executed
hereunder with respect to which the restrictions provided for in Section 5.3
hereof have lapsed shall not again be available for Award grant hereunder. If
Restricted Stock is acquired by the Company pursuant to the provisions of
paragraph (c) of Section 5.3 hereof, new Awards may be granted hereunder
covering the number of shares to which such Restricted Stock acquisition
relates.

                                  ARTICLE III
                                 PARTICIPANTS

Section 3.1.  ELIGIBILITY
              -----------

     Any Eligible Director shall be eligible to participate in the Plan.

                                  ARTICLE IV
                                ADMINISTRATION

Section 4.1.  DUTIES AND POWERS OF COMMITTEE
              ------------------------------

     The Plan shall be administered by the Committee. Subject to the express
provisions of the Plan, the Committee shall also have complete authority to
interpret the Plan, to prescribe, amend and rescind rules and regulations
relating to it, to determine the details and provisions of each Restricted Stock
Agreement, and to make all other determinations necessary or advisable in the
administration of the Plan.

Section 4.2.  MAJORITY RULE
              -------------

     A majority of the members of the Committee shall constitute a quorum, and
any action taken by a majority present at a meeting at which a quorum is present
or any action taken without a meeting evidenced by a writing executed by a
majority of the whole Committee shall constitute the action of the Committee.

                                       3
<PAGE>

                             MASSEY ENERGY COMPANY
             1997 RESTRICTED STOCK PLAN FOR NON-EMPLOYEE DIRECTORS
              As Amended and Restated Effective November 30, 2000

Section 4.3.  COMPANY ASSISTANCE
              ------------------

     The Company shall supply full and timely information to the Committee on
all matters relating to Eligible Directors, their death, retirement, disability
or removal or resignation from the Board and such other pertinent facts as the
Committee may require. The Company shall furnish the Committee with such
clerical and other assistance as is necessary in the performance of its duties.

                                   ARTICLE V
                                    AWARDS

Section 5.1.  AWARD GRANT AND RESTRICTED STOCK AGREEMENT
              ------------------------------------------

     The Committee shall grant to each Eligible Director who is a member of the
Board during all or any portion of each calendar year during the term of the
Plan (including the calendar year in which the Plan amended and restated
Effective Date occurs) an Award of 500 shares of Restricted Stock, (as adjusted
to reflect the distribution of Fluor Corporation from the Company) which grant
shall be made in respect of any calendar year on the date of the first regularly
scheduled meeting of the Board during such calendar year occurring concurrently
with or after such Eligible Director's appointment to the Board.

     Each Award granted hereunder must be granted within ten years from the
effective date of the Plan. The Awardee shall be entitled to receive the Stock
subject to such Award only if the Company and the Awardee enter into a written
Restricted Stock Agreement dated as of the date of the Award, which Agreement
shall set forth such terms and conditions as may be determined by the Committee
consistent with the Plan.

Section 5.2.  CONSIDERATION FOR ISSUANCE
              --------------------------

     No shares of Restricted Stock shall be issued to an Awardee hereunder
unless and until the Committee shall have determined that consideration has been
received by the Company, in the form of labor performed for or services actually
rendered to the Company by the Awardee, having a fair value of not less than the
then fair market value of a like number of shares of Stock subject to all of the
herein provided conditions and restrictions applicable to Restricted Stock, but
in no event less than the par value of such shares.

Section 5.3.  RESTRICTIONS ON SALE OR OTHER TRANSFER
              --------------------------------------

     Each share of Stock received pursuant to each Restricted Stock Agreement
shall be subject to acquisition by Massey Energy Company, and may not be sold or
otherwise transferred except pursuant to the following provisions:

     (a) The shares of Stock represented by the Restricted Stock Agreement shall
     be held in book entry form with the Company's transfer agent until the
     restrictions lapse in

                                       4
<PAGE>

                             MASSEY ENERGY COMPANY
             1997 RESTRICTED STOCK PLAN FOR NON-EMPLOYEE DIRECTORS
              As Amended and Restated Effective November 30, 2000

     accordance with the conditions established by the Committee pursuant to
     Section 5.4 hereof, or until the shares of stock are forfeited pursuant to
     paragraph (c) of this Section 5.3. Notwithstanding the foregoing, the
     Awardee may request that, prior to the lapse of the restrictions or
     forfeiture of the shares, certificates evidencing such shares be issued in
     his name and delivered to him, and each such certificate shall bear the
     following legend:

          "The shares of Massey Energy Company common stock evidenced
          by this certificate are subject to acquisition by Massey
          Energy Company, and such shares may not be sold or otherwise
          transferred except pursuant to the provisions of the
          Restricted Stock Agreement by and between Massey Energy
          Company and the registered owner of such shares."

     (b)  No such shares may be sold, transferred or otherwise alienated or
     hypothecated so long as such shares are subject to the restriction provided
     for in this Section 5.3.

     (c)  All of the Awardee's Restricted Stock remaining subject to any
     restriction hereunder shall be forfeited to, and be acquired at no cost by,
     the Company in the event that the Committee determines that any of the
     following circumstances has occurred:

          (i)   the Awardee has engaged in knowing and willful misconduct in
          connection with his or her service as a member of the Board;

          (ii)  the Awardee, without the consent of the Committee, at any time
          during his or her period of service as a member of the Board, becomes
          a principal of, serves as a director of, or owns a material interest
          in, any business that directly or through a controlled subsidiary
          competes with the Company or any Subsidiary; or

          (iii) the Awardee does not stand for reelection to, or voluntarily
          quits or resigns from, the Board for any reason, except under
          circumstances that would cause such restrictions to lapse under
          Section 5.4.

Section 5.4.  LAPSE OF RESTRICTIONS
              ---------------------

     The restrictions imposed under Section 5.3 above upon Restricted Stock held
by any Awardee will, as to any such Restricted Stock held by the Awardee for at
least six months, lapse once the Awardee has completed five years of service on
the Board or any of the following occurs:

     (a) the Awardee attains the Age for Board Retirement or obtains Board
     approval of early retirement in accordance with Section 5.5;

     (b) the Awardee dies or becomes permanently and totally disabled; or

     (c) any Change of Control occurs.

                                       5
<PAGE>

                             MASSEY ENERGY COMPANY
             1997 RESTRICTED STOCK PLAN FOR NON-EMPLOYEE DIRECTORS
              As Amended and Restated Effective November 30, 2000

In no event will the restrictions imposed under Section 5.3 lapse as to any
shares of Restricted Stock awarded to any Awardee until the Awardee has held
such shares for six months. Subject to the prior sentence, the Board may, in its
sole and absolute discretion, cause the five-year restriction to lapse with
respect to an Eligible Director who leaves the service of the Board.

Section 5.5.  EARLY RETIREMENT
              ----------------

     An Eligible Director who leave the Board prior to the Age for Board
Retirement, may, upon application to and in the sole discretion of the
Committee, be granted early retirement status.

Section 5.6.  RIGHTS AS STOCKHOLDER
              ---------------------

     Subject to the provisions of Section 5.3 hereof, upon the issuance to the
Awardee of Restricted Stock hereunder, the Awardee shall have all the rights of
a stockholder with respect to such Stock, including the right to vote the shares
and receive all dividends and other distributions paid or made with respect
thereto.

                                  ARTICLE VI
                              STOCK CERTIFICATES

Section 6.1.  STOCK CERTIFICATES
              ------------------

     The Company shall not be required to issue or deliver any certificate for
shares of Stock received as Restricted Stock pursuant to a Restricted Stock
Agreement executed hereunder, prior to fulfillment of all of the following
conditions:

     (a) the admission of such shares to listing on all stock exchanges on which
     the Stock is then listed;

     (b) the completion of any registration or other qualification of such
     shares under any federal or state law or under the rulings or regulations
     of the Securities and Exchange Commission or any other governmental
     regulatory body, which the Committee shall in its sole discretion deem
     necessary or advisable;

     (c) the obtaining of any approval or other clearance from any federal or
     state governmental agency which the Committee shall in its sole discretion
     determine to be necessary or advisable; and

     (d) the lapse of such reasonable period of time following the execution of
     the Restricted Stock Agreement as the Committee from time to time may
     establish for reasons of administrative convenience.

                                       6
<PAGE>

                             MASSEY ENERGY COMPANY
             1997 RESTRICTED STOCK PLAN FOR NON-EMPLOYEE DIRECTORS
              As Amended and Restated Effective November 30, 2000

                                  ARTICLE VII
                TERMINATION, AMENDMENT AND MODIFICATION OF PLAN

Section 7.1.  TERMINATION, AMENDMENT AND MODIFICATION OF PLAN
              -----------------------------------------------

     The Committee may at any time terminate, and may at any time and from time
to time and in any respect amend or modify, the Plan provided that, if under
applicable laws or the rules of any securities exchange upon which the Company's
common stock is listed, the consent of the Company's stockholders is required
for such amendment or modification, such amendment or modification shall not be
effective until the Company obtains such consent, and provided, further, that no
termination, amendment or modification of the Plan shall in any manner affect
any Restricted Stock Agreement theretofore executed pursuant to the Plan without
the consent of the Awardee.

                                 ARTICLE VIII
                                 MISCELLANEOUS

Section 8.1.  ADJUSTMENT PROVISIONS
              ---------------------

     (a) Subject to Section 8.l(b) below, if the outstanding shares of Stock of
     the Company are increased, decreased, or exchanged for a different number
     or kind of shares or other securities, or if additional shares or new or
     different shares or other securities are distributed with respect to such
     shares of Stock or other securities, through merger, consolidation, sale of
     all or substantially all of the property of the Company, reorganization,
     recapitalization, reclassification, stock dividend, stock split, reverse
     stock split or other distribution with respect to such shares of Stock or
     other securities, an appropriate and proportionate adjustment may be made
     in (i) the maximum number and kind of shares provided in Section 2.4 and
     (ii) the number and kind of shares or other securities subject to the
     outstanding Awards.

     (b) Adjustments under Section 8.l(a) will be made by the Committee, whose
     determination as to what adjustments will be made and the extent thereof
     will be final, binding, and conclusive.  No fractional interests will be
     issued under the Plan resulting from any such adjustments.

Section 8.2.  CONTINUATION OF BOARD SERVICE
              -----------------------------

     Nothing in the Plan or in any instrument executed pursuant to the Plan will
confer upon any Eligible Director any right to continue to serve on the Board.

Section 8.3.  COMPLIANCE WITH GOVERNMENT REGULATIONS
              --------------------------------------

     No shares of Stock will be issued hereunder unless and until all
applicable requirements imposed by federal and state securities and other laws,
rules, and regulations and by any

                                       7
<PAGE>

                             MASSEY ENERGY COMPANY
             1997 RESTRICTED STOCK PLAN FOR NON-EMPLOYEE DIRECTORS
              As Amended and Restated Effective November 30, 2000

regulatory agencies having jurisdiction and by any stock exchanges upon which
the Stock may be listed have been fully met. As a condition precedent to the
issuance of shares of Stock pursuant hereto, the Company may require the
employee to take any reasonable action to comply with such requirements.

Section 8.4.  PRIVILEGES OF STOCK OWNERSHIP
              -----------------------------

     No director and no beneficiary or other person claiming under or through
such employee will have any right, title, or interest in or to any shares of
Stock allocated or reserved under the Plan or subject to any Award except as to
such shares of Stock, if any, that have been issued to such director.

Section 8.5.  WITHHOLDING
              -----------

     The Company may make such provisions as it deems appropriate to withhold
any taxes the Company determines it is required to withhold in connection with
any Award. The Company may require the director to satisfy any relevant tax
requirements before authorizing any issuance of Stock to the director. Such
settlement may be made in cash or [previously acquired] Stock.

Section 8.6.  NONTRANSFERABILITY
              ------------------

     An Award may be exercised during the life of the director solely by the
director or the director's duly appointed guardian or personal representative.
No Award and no other right under the Plan, contingent or otherwise, will be
assignable or subject to any encumbrance, pledge, or charge of any nature.

Section 8.7.  OTHER COMPENSATION PLANS
              ------------------------

     The adoption of the Plan shall not affect any other stock option or
incentive or other compensation plans in effect for the Company or any
Subsidiary, nor shall the Plan preclude the Company from establishing any other
forms of incentive or other compensation for employees or directors of the
Company or any Subsidiary.

Section 8.8.  PLAN BINDING ON SUCCESSORS
              --------------------------

     The Plan shall be binding upon the successors and assigns of the Company.

                                       8
<PAGE>

                             MASSEY ENERGY COMPANY
             1997 RESTRICTED STOCK PLAN FOR NON-EMPLOYEE DIRECTORS
              As Amended and Restated Effective November 30, 2000

Section 8.9.  SINGULAR, PLURAL; GENDER
              ------------------------

     Whenever used herein, nouns in the singular shall include the plural, and
the masculine pronoun shall include the feminine gender.

Section 8.10. HEADINGS, ETC., NO PART OF PLAN
              -------------------------------

     Headings of Articles and Sections hereof are inserted for convenience and
reference; they constitute no part of the Plan.

                                       9

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