Document:

exhibit1014.htm

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    ACKNOWLEDGMENT, CONSENT AND
AGREEMENT NO. 1

     

    PREAMBLE.  Reference
is made to the Subordination and Intercreditor Agreement, dated as of June 26,
2008 (the “Subordination
Agreement”), made among (i) Black Forest International, LLC (the
“Subordinated
Creditor”), Fourth Third LLC (“Fourth Third”), as
Agent for all Senior Lenders, PNG Ventures, Inc. (“PNG”), New Earth LNG,
LLC (“Earth”)
and certain subsidiaries of Earth (together with PNG and Earth, called the
“Companies” or
a “Company”).  Capitalized
terms used herein, but not expressly defined herein, shall have the meanings
given to such terms in the Subordination Agreement.

     

    STATEMENT OF
FACTS.  The Companies and Fourth Third have made and entered
into a certain Amendment No. 1, dated as of June 30, 2008 (the “Amendment”), pursuant
to which the Senior Credit Agreement has been amended to permit the incurrence
by Agent on behalf of the Companies of certain Supplier Guaranties (as defined
therein; herein, “Supplier
Guaranties”); subject, however, among other
things, to Agent’s receipt of this instrument from Subordinated
Creditor.

     

    CONSENT AND
AGREEMENT.  Subordinated Creditor acknowledges receipt of a
copy, as executed, of the Amendment; consents thereto; agrees to be bound
thereby; and further agrees that, retroactive to June 26, 2008, being the
effective date of the Subordination Agreement:  (i) all
reimbursement obligations of the Companies to Agent and Lenders arising from the
issuance of, and performance under, the Supplier Guaranties shall constitute
“Senior Debt” for all purposes of the Subordination Agreement, and (ii) the
“Senior Debt Limit” defined and described in the Subordination Agreement shall
be deemed increased accordingly by the amount of such reimbursement obligations,
not to exceed, however, $3,000,000, together with accrued interest thereon, as
provided in the Amendment.

     

    Witness
our hand as of July ___, 2008, retroactive to June 26, 2008.

     

    BLACK
FOREST INTERNATIONAL, LLC

    

    By: BCGU,
LLC, its administrative manager

    By:
Business Consulting Group Unlimited, Inc., its

           Administrative
manager

    

    
      	
               
      

            	
              By:

            	
              /s/ Brad
      Bingham

            	 

    

     

    
      	
               
      

            	
              Name:

            	
              Brad
      Bingham

            	 

    

     

    
      	
               
      

            	
              Title:

            	
              Attorney in
      Factexhibit1015.htm

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    CONTRIBUTION
AGREEMENT

    

    THIS
CONTRIBUTION AGREEMENT (this “Agreement”), is made and
entered into as of June 23, 2008, by and among Earth LNG, Inc., a Texas
corporation (“Earth
LNG”), its wholly owned subsidiary, New Earth LNG, LLC, a Delaware
limited liability company (the “Company”) and Earth Biofuels,
Inc., a Delaware corporation (“EBOF”).  The
Company, EBOF and Earth LNG are sometimes referred to herein as the
“Parties”.

     

    WITNESSETH:

     

     

    WHEREAS, Earth LNG owns all of
the limited liability company membership interests of Applied LNG Technologies
USA, L.L.C., a Delaware limited liability company (“Applied LNG”) and Arizona LNG,
L.L.C., a Nevada limited liability company  (“Arizona LNG” and together with
Applied LNG, the “LNG
Subsidiaries”) and, Applied LNG owns all of the shares of Fleet Star,
Inc., a Delaware corporation and Earth Leasing, Inc., a Texas corporation (the
“Corporations” and,
collectively with the LNG Subsidiaries, the “Subsidiaries”);
and

     

    

    WHEREAS, Earth LNG owns all of
the membership  interests of the Company; and

    

    WHEREAS, Earth LNG, the
Company, EBOF and PNG Ventures, Inc., a Nevada corporation (“PNG”), have entered into a
Share Exchange Agreement, pursuant to which, among other things, EBOF and Earth
LNG have agreed to transfer, sell and assign the Company, after transferring all
of the membership interests and other assets owned by Earth LNG to the Company
(the “Exchange
Agreement”);

     

    WHEREAS, Earth LNG desires to
contribute, transfer, convey and assign hereby all right and marketable title in
the LNG Subsidiaries and any other assets it has, (but not tax liabilities or
contingent tax liabilities), to the Company as of the date hereof, in order to
fulfill the transfer of the related west coast liquid natural gas business of
the Company to PNG as contemplated by the Exchange Agreement (and all of the
Corporations thereby);

     

    

    NOW, THEREFORE, in
consideration of the premises and the mutual promises contained herein, the
Parties hereto agree as follows:

     

    1.           Contribution.  (a)  Earth
LNG hereby irrevocably transfers, contributes, conveys and assigns to the
Company full marketable title to any and all rights, title and interest held by
the Earth LNG in the LNG Subsidiaries (which own the Corporations at the time of
transfer herein) and any and all other assets of Earth LNG (collectively, the
“Transferred Assets”),
but not (i) any liabilities, tax liabilities or contingent tax liabilities of
Earth LNG or of the Subsidiaries or any other liabilities not otherwise
referenced in the Exchange Agreement (or incorporated by reference therein) or
(ii) any trade payables or indebtedness owed to Earth by EBOF, Durant Biofuels,
LLC, or either of their respective subsidiaries (the “EBOF Parties”).

    

    (b) The Company hereby accepts the
Transferred Assets.

    

    (c)           Earth
LNG and EBOF shall take any and all actions necessary to cause the 100% of the
membership interests of the LNG Subsidiaries to be delivered to the Company and
registers the Company as the owner of such LNG Subsidiaries membership interests
in their books and records and to transfer title to any of the other Transferred
Assets.  Earth LNG and EBOF shall also take any and all further
actions as necessary from time to time and deliver all instruments, stock powers
or operating agreement

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    amendments
or other documents as requested by the Company or its successors and assigns, as
is required to effectuate a transfer of the Transferred Assets pursuant to this
Agreement, to the Company.

    

    2.           Entire
Agreement.  This Agreement constitutes the entire agreement
among the Parties with respect to the subject matter hereof, and supersedes all
prior agreements and understandings, oral and written, between the Parties with
respect to the subject matter hereof, and may not be changed, modified,
terminated, altered or discharged, in whole or in part (other than in accordance
with the respective terms thereof), except by a writing executed by the
Parties.  No waiver of any part of this agreement shall be valid
unless made in writing.  Earth LNG and EBOF hereby indemnify the
Company or its successors and assigns from any and all tax liabilities or
contingent tax liabilities relating to Transferred Assets and the transactions
contemplated hereby.

    

    3.           Binding Effect;
Assignment.  This Agreement shall inure to the benefit of and
be binding upon the parties hereto and their respective legal representatives,
heirs, administrators, executors, trustees, beneficiaries, devisees, successors
and permitted assigns.  The rights under this Agreement shall be
assignable by the Company.

    

    4.           Counterparts/Further
Assurances.  This Agreement may be executed in any number of
counterparts, each of which shall be deemed an original and all of which taken
together shall be deemed to be one and the same instrument.  Each
party hereto shall take all further actions and execute all further documents as
necessary from time to time in order to effectuate the intent of this agreement
and to provide all documents necessary to allow for the accountants of the
respective parties to complete their audit of the same.

    

    5.           Invalidity.  The
invalidity or unenforceability of any term or provision in this Agreement, or
the application of such term or provision to any person or circumstances, shall
not impair or affect the remainder of this Agreement and its application to
other persons and circumstances, and the remaining terms and provisions hereof
shall not be invalidated but shall remain in full force and effect.

    

    IN WITNESS WHEREOF, the
undersigned hereby execute this Agreement as of the date first written
above.

     

                                          EARTH LNG, INC.

    

    

    By:
______________________

    Name: Dennis G. McLaughlin,
III

      
Title:   President

    

    

    EARTH BIOFUELS, INC.

    

    By:
______________________

    Name: Dennis G. McLaughlin,
III

       Title: Chief Executive
Officer

    

    -Accepted and Agreed-

    NEW EARTH LNG, LLC

                            By
Earth LNG, Inc. its Sole Member

    

    By:
______________________

    Name: Denis McLaughlin
III

                              
Title:    Presidentjrcc_10q-ex1021.htm

    Exhibit
10.21

     

    Morgan
Stanley Senior Funding, Inc.

    1585
Broadway

    New York,
New York 10036

    

    July 8,
2008

    

    

    James
River Coal Company

    901 E.
Byrd Street, Suite 1600

    Richmond,
Virginia  23219

    Attention:
Samuel M. Hopkins II

    

    Re:
Consent

    

    Ladies
and Gentlemen:

    

    Reference is hereby made to that
certain Term Credit Agreement, dated as of February 26, 2007 (as it may be
amended, restated, modified, supplemented or extended from time to time,
including all exhibits and schedules thereto, or otherwise modified, the “Credit Agreement”),
by and among JAMES RIVER COAL COMPANY, a corporation organized under the laws of
Virginia (“JRCC”), and certain
of JRCC’s Subsidiaries identified on the title and signature pages thereof, as
borrowers (such Subsidiaries, together with JRCC, are referred to hereinafter
each individually as a “Borrower”, and
collectively, jointly and severally, as the “Borrowers”), and the
other credit parties thereto from time to time, as Guarantors (together, the
Borrowers and Guarantors, the “Credit Parties”), the
lenders party hereto from time to time (the “Lenders”), MORGAN
STANLEY SENIOR FUNDING, INC., a corporation formed under the laws of
Delaware, as
administrative agent for the Lenders (in such capacity, together with its
successors and assigns, if any, the “Administrative
Agent”) and as sole-bookrunner and lead arranger (in such capacity, the
“Lead
Arranger”), and MORGAN STANLEY & CO. INCORPORATED, as collateral
agent for the Lenders (in such capacity, together with its successors and
assigns, if any, the “Collateral
Agent”).

    

    The Borrowers have requested that the
Administrative Agent and the undersigned Lenders consent to JRCC’s acquisition
of certain assets pursuant to the Cheyenne Asset Purchase Agreement (as defined
below) (the “Cheyenne
Acquisition”) and the issuance and/or sale of shares of JRCC common stock
(the “Cheyenne Equity
Issuance”), as part of the purchase price under that certain Asset
Purchase Agreement, dated as of the date thereof, by and among JRCC, Leeco,
Inc., a Kentucky corporation, as buyer, Cheyenne Resources, Inc., a Kentucky
corporation, as seller, and the stockholders signatory thereto (the “Cheyenne Asset Purchase
Agreement”).

    

    Subject to the terms and conditions set
forth below, notwithstanding the restrictions contained in Section 9.05 of the
Credit Agreement, the Administrative Agent and the undersigned Lenders hereby
consent to the Cheyenne Equity Issuance and to JRCC’s issuance and/or sale of
shares of common stock in JRCC, in an amount up to $150,000,000 following the
date of this consent letter, under JRCC’s Shelf Registration (as defined in the
Credit Agreement) and any amendment, increase and/or replacement to such Shelf
Registration.  For the avoidance of doubt, the Cheyenne Acquisition
shall be deemed to be a Permitted Acquisition under Section 9.07 of the Credit
Agreement and the Lenders and the Administrative Agent hereby consent thereto
and agree that the Cheyenne Acquisition shall be deemed not to use any of the
$25,000,000 limit in clause (a) of the definition of “Permitted Acquisitions” in
Section 1.01 of the Credit Agreement, and further, for the avoidance of doubt,
not to constitute a Capital Expenditure under the Credit Agreement solely for
the purpose of calculating compliance under Section 10.03 of the Credit
Agreement.

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    The
Lenders and the Administrative Agent hereby agree to eliminate the last sentence
of Section 3.01(d) of the Credit Agreement preventing the voluntary prepayment
of the Obligations and the voluntary reduction of the Term Letter of Credit
Commitments by the Borrowers.

    

    The effectiveness of this consent
letter is subject to the following conditions: (i) that it shall be executed and
delivered by the Administrative Agent, the Required Lenders, the Borrowers and
the Guarantors, and (ii) that the Administrative Agent shall have received
payment from the Borrowers of a consent fee equal to 1% times the Commitments
of consenting Lenders (the “Initial Consent Fee”), provided that, upon a
prepayment of the Obligations and/or a reduction of the Term Letter of Credit
Commitments on or before September 30, 2008 (together, a “Q3 2008 Prepayment”),
the Initial Consent Fee with respect to the amount so repaid or reduced shall be
creditable against the Applicable Payment Fee and Applicable Reduction Fee that
would be payable to the consenting Lenders in connection with such Q3 2008
Prepayment; provided
further, that the Borrowers shall pay an additional consent fee equal to
2% times the
remaining Commitments (if any are outstanding) of consenting Lenders as of
September 30, 2008 (such fee to be paid within 10 days thereafter).

    

    None of the Administrative Agent or the
Lenders shall have any obligation to issue any further consent, waiver or
release with respect to the subject matter of this consent letter or any other
matter.  Except as specifically provided above, nothing contained in
this consent letter shall be deemed to be a waiver of, or shall in any way
impair or prejudice, any rights of the Agent or the Lenders under the Credit
Agreement or any other Loan Document.

    

    This consent letter may be executed in
any number of counterparts, each of which when so executed shall be deemed to be
an original and all of which taken together shall constitute one and the same
instrument.

    

    THIS CONSENT LETTER SHALL FOR ALL
PURPOSES BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE
OF NEW YORK.

    

    [remainder
of page intentionally left blank]

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    Kindly acknowledge your agreement with
the terms of this consent letter by signing where indicated below and returning
it to the Administrative Agent.

    

    
      	
              LENDER, ADMINISTRATIVE
      AGENT AND COLLATERAL AGENT:

            
	 
	 
	
              MORGAN
      STANLEY SENIOR FUNDING, INC.

            
	 
	 
	
              By:
      /S/ Stephen
      King

            
	
              Name:Stephen
      B. King

            
	
              Title:
      VP

            

    

    

    
      	
              OTHER
      LENDERS:

            
	 
	 
	
              Deutsche
      Bank AG New York  - By D.B Services New Jersey
    Inc.

            
	 
	 
	
              By:
      /S/ Jonathan
      Shin

            
	
              Name:Jonathan
      Shin

            
	
              Title:
      Assistant Vice President

            
	 
      
	
              OTHER
      LENDERS:

            
	 
	 
	
              Sandelman
      Finance 2006-1, Ltd. – By Sandelman Partners, LP as Investment
      Advisor

            
	 
	 
	
              By:
      /S/ Peter A.
      Bio

            
	
              Name:Peter
      Bio

            
	
              Title:
      Head of Capital Structure

            

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    
      	 
      
	
              OTHER
      LENDERS:

            
	 
	 
	
              Trilogy
      Portfolio Company LLC

            
	 
	 
	
              By:
      /S/ Paul S.
      Greenberg

            
	
              Name:Paul
      S. Greenberg

            
	
              Title:
      Principal

            

    

    

    
      	 
      
	
              OTHER
      LENDERS:

            
	 
	 
	
              Trust
      D (for a portion of the assets of the Kodak Retirement Income
      Plan)

            
	 
	 
	
              By: /S/ Steven S.
      Rogers

            
	
              Name:Steven
      S. Rogers

            
	
              Title:
      Authorized Signatory

            
	 
      
	 
      
	
              OTHER
      LENDERS:

            
	 
	 
	
              Liberty
      View Loan Fund LLC

            
	 
	 
	
              By:
      /S/ Steven S.
      Rogers

            
	
              Name:Steven
      S. Rogers

            
	
              Title:
      Authorized Signatory

            
	 
      

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    
      	
              OTHER
      LENDERS:

            
	 
	 
	
              Xerion
      (Perella Weinberg)

            
	 
	 
	
              By:
      /S/ Peter
      Epstein

            
	
              Name:
      Peter Epstein

            
	
              Title:
      Analyst

            
	 
      
	
              OTHER
      LENDERS:

            
	 
	 
	
              Restoration
      Holdings Ltd.

            
	 
	 
	
              By:
      /S/ Pamela M.
      Lawrence

            
	
              Name:
      Pamela M. Lawrence

            
	
              Title:
      Director

            
	 
      
	
              OTHER
      LENDERS:

            
	 
	 
	
              TRS
      Venor LLC – By Deutcshe Bank, AG Cayman Island Branch, Its Sole Member; DB
      Services New Jersey, Inc.

            
	 
	 
	
              By:
      /S/ Alice L
      Wagner

            
	
              Name:
      Alice L Wagner

            
	
              Title:
      Vice Presiden

            
	 
	 
	
              By:
      /S/ Edward
      Schaffer

            
	
              Name:
      Edward Schaffer

            
	
              Title:
      Vice Presiden

            
	 
      
	
              OTHER
      LENDERS:

            
	 
	 
	
              Mariner
      LDC – By:  Mariner Investment Group, LLC as Investment
      Manager

            
	 
	 
	
              By:
      /S/ Charles R.
      Howe

            
	
              Name:
      Charles R. Howe

            
	
              Title:
      President

            
	 
      

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    
      	
              BORROWERS:

            
	 
	 
	
              JAMES
      RIVER COAL COMPANY

            
	 
	 
	
              By:
      /S/ Samuel M. Hopkins
      II

            
	
              Name:
      Samuel M. Hopkins II

            
	
              Title:  V.P

            
	 
	 
	
              JAMES
      RIVER COAL SERVICE COMPANY

            
	 
	 
	
              By:
      /S/ Samuel M. Hopkins
      II

            
	
              Name:
      Samuel M. Hopkins II

            
	
              Title:  V.P

            
	 
	 
	
              LEECO,
      INC.

            
	 
	 
	
              By:
      /S/ Samuel M. Hopkins
      II

            
	
              Name:
      Samuel M. Hopkins II

            
	
              Title:  V.P

            
	 
	 
	
              TRIAD
      MINING, INC.

            
	 
	 
	
              By: /S/ Samuel M. Hopkins
      II

            
	
              Name:
      Samuel M. Hopkins II

            
	
              Title:  V.P

            
	 
	 
	
              TRIAD
      UNDERGROUND MINING, LLC

            
	 
	 
	
              By:
      /S/ Samuel M. Hopkins
      II

            
	
              Name:
      Samuel M. Hopkins II

            
	
              Title:  Member

            

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    
      	
              BLEDSOE
      COAL CORPORATION

            
	 
	 
	
              By:
      /S/ Samuel M. Hopkins
      II

            
	
              Name:
      Samuel M. Hopkins II

            
	
              Title:  V.P

            
	 
	 
	
              JOHNS
      CREEK ELKHORN COAL CORPORATION

            
	 
	 
	
              By: /S/ Samuel M. Hopkins
      II

            
	
              Name:
      Samuel M. Hopkins II

            
	
              Title:  V.P

            
	 
	 
	
              JAMES
      RIVER COAL SALES, INC.

            
	 
	 
	
              By:
      /S/ Samuel M. Hopkins
      II

            
	
              Name:
      Samuel M. Hopkins II

            
	
              Title:  V.P

            
	 
	 
	
              BLEDSOE
      COAL LEASING COMPANY

            
	 
	 
	
              By:
      /S/ Samuel M. Hopkins
      II

            
	
              Name:
      Samuel M. Hopkins II

            
	
              Title:  V.P

            

    

    

    
      	
              BLUE
      DIAMOND COAL COMPANY

            
	 
	 
	
              By:
      /S/ Samuel M. Hopkins
      II

            
	
              Name:
      Samuel M. Hopkins II

            
	
              Title:  V.P

            

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    
      	
              MCCOY
      ELKHORN COAL CORPORATION

            
	 
	 
	
              By:
      /S/ Samuel M. Hopkins
      II

            
	
              Name:
      Samuel M. Hopkins II

            
	
              Title:  V.P

            
	 
	 
	
              GUARANTORS:

            
	 
	 
	
              BDCC
      HOLDING COMPANY, INC.

            
	 
	 
	
              By:
      /S/ Samuel M. Hopkins
      II

            
	
              Name:
      Samuel M. Hopkins II

            
	
              Title:  V.P

            
	 
	 
	
              EOLIA
      RESOURCES, INC.

            
	 
	 
	
              By:
      /S/ Samuel M. Hopkins
      II

            
	
              Name:
      Samuel M. Hopkins II

            
	
              Title:  V.P

            
	 
	 
	
              SHAMROCK
      COAL COMPANY, INCORPORATED

            
	 
	 
	
              By:
      /S/ Samuel M. Hopkins
      II

            
	
              Name:
      Samuel M. Hopkins III

            
	
              Title:  V.P

            
	 
	 
	
              JOHNS
      CREEK COAL COMPANY

            
	 
	 
	
              By:
      /S/ Samuel M. Hopkins
      II

            
	
              Name:
      Samuel M. Hopkins II

            
	
              Title:  V.P

            

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    
      	
              JOHNS
      CREEK PROCESSING COMPANY

            
	 
	 
	
              By:
      /S/ Samuel M. Hopkins
      II

            
	
              Name:
      Samuel M. Hopkins II

            
	
              Title:  V.P

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