Document:

exv10w1

 

Exhibit 10.1

Summary of the Salaries

for the Named Executive Officers

of Arch Coal, Inc.

	 	 	 	 	 	 	 	 	 
	 	 	Base Salary (1) (2)
	Name and Title of Executive Officer	 	2006	 	2005
	Steven F. Leer
	 	$	750,000	 	 	$	715,000	 
	President and Chief Executive Officer
	 	 	 	 	 	 	 	 
	John W. Eaves
	 	 	450,000	 	 	 	425,000	 
	Executive Vice President and Chief Operating Officer
	 	 	 	 	 	 	 	 
	Robert J. Messey
	 	 	335,000	 	 	 	305,000	 
	Senior Vice President and Chief Financial Officer
	 	 	 	 	 	 	 	 
	Robert G. Jones
	 	 	300,000	 	 	 	290,000	 
	Vice
President — Law, General Counsel and Secretary
	 	 	 	 	 	 	 	 
	C. Henry
Besten
Senior Vice President — Strategic Development
	 	 	265,000	 	 	 	250,000	 

 

			
	(1)	 	In the first quarter of each year, the Personnel and Compensation Committee
meets to determine whether, based on overall company performance, individual performance,
competitive compensation and target total compensation, base salaries for the named executive
officers should be increased. Additionally, base salaries for the named executive officers
will generally increase concurrent with an officer’s promotion or an increase in an officer’s
responsibilities, as may be determined by the Personnel and Compensation Committee from time
to time and recommended to the Board of Directors for approval.
	 
	(2)	 	The Company also provides certain other benefits to its executive officers that are
not tied to any formal individual or corporate performance objectives and are intended to be
part of a competitive overall compensation program. For example, the Company maintains an
employee thrift plan, a cash balance pension plan, insurance and other benefit plans for its
employees. Executive officers participate in these plans on the same terms as other eligible
employees, subject to any legal limits on the amounts that may be contributed by or paid to
executives under the plans. In addition, the Company reimburses certain executive officers
for financial planning services and club dues, and the Company also pays certain executive
officers an additional amount sufficient to compensate him or her for the taxes arising as a
result of the perquisites the Company provides.exv10w3

 

Exhibit 10.3

Summary of the Award Levels and Performance Goals

for the Named Executive Officers

of Arch Coal, Inc.

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Incentive Award as a Percentage of Base Salary (1) (2)
	Name and Title of Executive Officer	 	Minimum	 	Target	 	Maximum
	Steven F. Leer
	 	 	18.75	%	 	 	75.00	%	 	 	150.00	%
	President and Chief Executive Officer
	 	 	 	 	 	 	 	 	 	 	 	 
	John W. Eaves
	 	 	15.00	%	 	 	60.00	%	 	 	120.00	%
	Executive Vice President and Chief Operating Officer
	 	 	 	 	 	 	 	 	 	 	 	 
	Robert J. Messey
	 	 	12.50	%	 	 	50.00	%	 	 	100.00	%
	Senior Vice President and Chief Financial Officer
	 	 	 	 	 	 	 	 	 	 	 	 
	Robert G. Jones
	 	 	12.50	%	 	 	50.00	%	 	 	100.00	%
	Vice
President — Law, General Counsel and Secretary
	 	 	 	 	 	 	 	 	 	 	 	 
	C. Henry
Besten
Senior Vice President — Strategic Development
	 	 	12.50	%	 	 	50.00	%	 	 	100.00	%

 

			
	(1)	 	For 2006, upon the recommendation of the Personnel and Compensation Committee,
Board of Directors approved certain performance objectives for the executive officers based on
adjusted earnings before interest, taxes, depreciation, and amortization (adjusted EBITDA),
earnings per share (EPS), safety, and environmental compliance.exv10w5

 

Exhibit 10.5

ARCH COAL, INC.

FORM OF RESTRICTED STOCK UNIT GRANT

(Not Transferable)

CONTRACT

     This Contract, by and between Arch Coal, Inc., a Delaware corporation (the “Company”), and
                    
(the “Participant”), is made and entered into as a separate inducement in connection with the
Participant’s employment and not in lieu of any salary or other compensation for the Participant’s
services, pursuant to which the company has awarded                      Restricted Stock Units (“Units”) to the
Participant, subject to the provisions of the Arch Coal, Inc. 1997 Stock Incentive Plan (the
“Plan”), a copy of which has been provided to the Participant, and to the terms and conditions set
forth below, which constitute the entire understanding between the Company and the Participant with
respect to this contract.

     This Contract is executed as of                      (the “Restricted Stock Unit Grant Date”).

	 	 	 	 	 	 	 
	 	 	Arch Coal, Inc.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 

Sheila B. Feldman
	 	 
	 

	 	 	 	Vice President of Human Resources	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 

Name
	 	 
	 

	 	 	 	“Participant”	 	 

 

 

TERMS AND CONDITIONS OF RESTRICTED STOCK UNIT CONTRACT

	1.	 	Definitions. Capitalized terms, not otherwise defined herein shall have the same meanings
set forth in the Plan, as may be amended from time to time.
	 
	2.	 	Vesting Dates. The Units will vest in equal ratable amounts on the first, second and third
anniversaries of the Restricted Stock Unit grant date (each, a “Vesting Date”).
	 
	3.	 	Issuance of Shares of Stock. Subject to the provisions of this Contract, and unless deferred
by the Participant, the Company shall issue to the Participant as soon as practicable
following each Vesting Date, a number of whole shares of Stock equal to the number of Units
vesting on such date. Such shares of stock shall not be subject to any restriction on
transfer other than any such restriction as may be required pursuant to Section 9, or any
applicable law, rule or regulation.
	 
	4.	 	Non-transferable. The Participant agrees that the Units may not be sold, assigned,
transferred, pledged, hypothecated, or otherwise disposed of.
	 
	5.	 	Change of Control. The units will vest automatically and without any further action on the
part of the Company or the Participant immediately following any Change of Control.
	 
	6.	 	Sale of Subsidiary. The units will vest automatically and without any further action on the
part of the Company or the Participant if the Participant is employed by a Subsidiary of the
Company immediately following the sale or disposition of such Subsidiary by the Company;
provided, however, that the Participant was not offered another position with the Company,
which includes substantially equivalent salary, benefits, duties and responsibilities as the
Participant’s last position.
	 
	7.	 	Tax Withholding. At the time the Award is granted, or at any time thereafter as requested by
the Company, the Participant hereby authorizes withholding from payroll and any other amounts
payable to the Participant, and otherwise agrees to make adequate provision for, any sums
required to satisfy the Federal, state, local and foreign tax withholding obligations of the
Company, if any, which arise in connection with the Award or the issuance of shares of Stock
in settlement thereof. The Company shall have no obligation to deliver shares of Stock until
the tax withholding obligations of the Company have been satisfied by the Participant.
	 
	8.	 	Certificate Registration. The certificate for the shares as to which the Award is settled
shall be registered in the name of the Participant, or, if applicable, in the names of the
heirs of the Participant.
	 
	9.	 	Restrictions on Grant of the Award and Issuance of Shares. The grant of the Award and
issuance of shares of Stock upon settlement of the Award shall be subject to compliance with
all applicable requirements of Federal, state or foreign law with respect to such securities.
No shares of Stock may be issued hereunder if the issuance of such shares would constitute a
violation of any applicable Federal, state or foreign securities laws or other law or
regulations or the requirements of any stock exchange or market system upon which the Stock
may then be listed. The inability of the Company to obtain from any regulatory body having
jurisdiction the authority, if any, deemed by the Company’s legal counsel to be necessary to
the lawful issuance and sale of any shares subject to the Award shall relieve the Company of
any liability in respect of the failure to issue or sell such shares as to which such
requisite authority shall not have been obtained. As a condition to the settlement of the
Award, the Company may require the Participant to satisfy any qualifications that may be
necessary or appropriate, to evidence compliance with any applicable law or regulation and to
make any representation or warranty with respect thereto as may be requested by the Company.
	 
	10.	 	Fractional Shares. The Company shall not be required to issue fractional shares upon the
settlement of the Award.
	 
	11.	 	Termination of Employment. The Participant agrees that, upon his or her termination from the
Company

 

 

	 	 	and its Subsidiaries for any reason (including Retirement, death or Disability) prior to the
dates on which the units vest, the Participant shall forfeit any and all rights he may have
under this Restricted Stock Unit Contract or the Plan for any unvested Units on the
effective date of termination.
	 
	12.	 	Stockholder Rights. Unless and until such time as the Participant forfeits his rights he may
have under this Restricted Stock Unit Contract in accordance with paragraph 11, the
Participant shall be entitled to receive payment, in cash, of an amount equal to the dividends
declared and paid from time to time on a share of Stock for each Unit then held by the
Participant. Except as provided in the preceding sentence, the Participant shall have no
other rights of a common stockholder of the Company, including the right to vote such stock at
any meeting of the common stockholders of the Company as a result of his ownership of the
units.
	 
	13.	 	Adjustments. The units awarded to the Participant pursuant to this Contract shall
automatically and without any further action on the part of the Company or the Participant be
adjusted if and to the extent that the Stock underlying the units becomes subject to a stock
dividend, stock split, recapitalization, merger, consolidation, reorganization or other event.
	 
	14.	 	Personnel & Compensation Committee Actions. The Personnel & Compensation Committee (the
“Committee”) of the Company’s Board of Directors may, in its discretion, remove, modify or
accelerate the vesting schedule with respect to the Units under such circumstances as the
Committee, in its discretion, shall determine, subject however to the terms of the Plan.
	 
	15.	 	Effect of Award on Employment. Nothing in this Contract shall be construed as an agreement
for the continued employment of the Participant and Company shall have the right to terminate
the employment of the Participant at any time for any reason, with or without cause.
	 
	16.	 	Further Assurances. Each of the parties hereto agrees to execute and deliver all consents
and other instruments and take all other actions deemed necessary or desirable by counsel for
the Company to carry out each provision of this Contract and the Plan.
	 
	17.	 	Governing Law. The validity, interpretation, performance and enforcement of this Contract
shall be governed by the laws of the State of Delaware, determined without regard to its
conflict of law provisions.
	 
	18.	 	Plan Governs. This Contract has been executed pursuant to the Plan, and each and every
provision of this Contract shall be subject to the provisions of such Plan and, except as
otherwise provided herein, the terms therein shall govern this Contract. In the event of any
conflict between the terms of this Contract and any other documents or materials provided to
the Participant, the terms of this Contract will control.

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