Document:

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                                                                   EXHIBIT 10.23

                              EMPLOYMENT AGREEMENT

         This Employment Agreement (this "Agreement") by and between Grant
Prideco, Inc., a Delaware corporation (the "Company"), and Curtis W. Huff (the
"Executive"), is effective as of February 5, 2001.

                              W I T N E S S E T H:

         WHEREAS, the Board of Directors of the Company (the "Board") has
previously determined that it is in the best interests of the Company and its
stockholders to retain the Executive and to induce the employment of the
Executive for the long term benefit of the Company;

         WHEREAS, the Board does not contemplate the termination of the
Executive during the term hereof and the Board and the Executive expect that the
Executive will be retained for at least the three year period contemplated
herein; and

         WHEREAS, to accomplish these objectives, the Board has caused the
Company to enter into this Agreement.

         NOW, THEREFORE, IT IS HEREBY AGREED AS FOLLOWS:

1.       Employment.

                  (a)    The Company hereby agrees that the Company or an
affiliated company will continue the Executive in its employ, and the Executive
hereby agrees to remain in the employ of the Company or an affiliate subject to
the terms and conditions of this Agreement, during the Employment Period (as
defined below).

                  (b)    The "Employment Period" shall mean the period
commencing on the date hereof and ending on the third anniversary of the date
hereof; provided, however, that commencing on the date one year after the date
hereof, and on each annual anniversary of such date (such date and each annual
anniversary thereof shall be hereinafter referred to as the "Renewal Date"),
unless previously terminated, the Employment Period shall be automatically
extended so as to terminate three years after such Renewal Date, unless at least
60 days prior to the Renewal Date the Company shall give notice to the Executive
that the Contract Period shall not be so extended.

2.       Terms of Employment.

                  (a)    Position and Duties.

                         (i)    During the Employment Period, (A) the
         Executive's position (including status, offices, titles and reporting
         requirements, authority, duties and responsibilities) shall be
         President and Chief Financial Officer of the Company and such other
         executive positions as may be assigned to him and (B) the Executive's
         services shall be performed initially at the Company's location in the
         Woodlands, Texas, and thereafter, at a location not less than 20 miles
         from downtown Houston, Texas.
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                         (ii)   During the Employment Period, and excluding
         any periods of vacation and sick leave to which the Executive
         is entitled, the Executive agrees to devote reasonable attention and
         time during normal business hours to the business and affairs of the
         Company and, to the extent necessary to discharge the responsibilities
         assigned to the Executive hereunder, to use the Executive's reasonable
         best efforts to perform faithfully and efficiently such
         responsibilities. During the Employment Period it shall not be a
         violation of this Agreement for the Executive to (A) serve on
         corporate, civic or charitable boards or committees, (B) deliver
         lectures, fulfill speaking engagements or teach at educational
         institutions and (C) manage personal investments, so long as such
         activities do not significantly interfere with the performance of the
         Executive's responsibilities as an employee of the Company in
         accordance with this Agreement. It is expressly understood and agreed
         that to the extent that any such activities have been conducted by the
         Executive prior to the date hereof, the continued conduct of such
         activities (or the conduct of activities similar in nature and scope
         thereto) subsequent to the date hereof shall not thereafter be deemed
         to interfere with the performance of the Executive's responsibilities
         to the Company.

                  (b)    Compensation.

                         (i)    Base Salary. During the Employment Period,
         the Executive shall receive an annual base salary of $500,000 ("Annual
         Base Salary"), which shall be paid at a monthly rate. During the
         Employment Period, the Annual Base Salary shall be reviewed no more
         than 12 months after the last salary increase awarded to the Executive
         prior to the date hereof and thereafter at least annually; provided,
         however, that a salary increase shall not necessarily be awarded as a
         result of such review. Any increase in Annual Base Salary may not serve
         to limit or reduce any other obligation to the Executive under this
         Agreement. Annual Base Salary shall not be reduced after any such
         increase. The term Annual Base Salary as utilized in this Agreement
         shall refer to Annual Base Salary as so increased.

                         (ii)   Annual Bonus. The Executive shall be
         eligible for an annual bonus (the "Annual Bonus") for each fiscal year
         ending during the Employment Period on the same basis as other
         executive officers under the Company's executive officer annual
         incentive program. Each such Annual Bonus shall be paid no later than
         the end of the third month of the fiscal year next following the fiscal
         year for which the Annual Bonus is awarded, unless the Executive shall
         elect to defer the receipt of such Annual Bonus pursuant to a Company
         sponsored deferred compensation plan in effect.

                         (iii)  Incentive, Savings and Retirement Plans.
         During the Employment Period, the Executive shall be entitled to
         participate in all incentive, savings and retirement plans, practices,
         policies and programs applicable generally to the Executive's peer
         executives of the Company and its affiliated companies, but in no event
         shall such plans, practices, policies and programs provide the
         Executive with incentive opportunities (measured with respect to both
         regular and special incentive opportunities, to the extent, if any,
         that such distinction is applicable), savings opportunities and
         retirement benefit opportunities, in each case, less favorable, in the
         aggregate, than the most favorable of those provided by the Company and
         its affiliated companies for the Executive under such plans, practices,
         policies and programs as in effect on the date hereof. As used in this
         Agreement,

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         the term "affiliated companies" shall include any company controlled
         by, controlling or under common control with the Company.

                         (iv)   Welfare Benefit Plans. During the Employment
         Period, the Executive and/or the Executive's family, as the case may
         be, shall be eligible to participate in and shall receive all
         benefits under welfare benefit plans, practices, policies and programs
         provided by the Company and its affiliated companies (including,
         without limitation, medical, prescription, dental, disability, salary
         continuance, employee life, group life, accidental death and travel
         accident insurance plans and programs) to the extent applicable
         generally to the Executive's peer executives of the Company and its
         affiliated companies, but in no event shall such plans, practices,
         policies and programs provide the Executive with benefits that are less
         favorable, in the aggregate, than such plans, practices, policies and
         programs in effect for the Executive on the date hereof.

                         (v)    Expenses. During the Employment Period, the
         Executive shall be entitled to receive prompt reimbursement for all
         reasonable expenses incurred by the Executive in accordance with the
         most favorable policies, practices and procedures of the Company and
         its affiliated companies in effect for the Executive on the date
         hereof.

                         (vi)   Fringe Benefits. During the Employment Period,
         the Executive shall be entitled to fringe benefits (including,
         without limitation, financial planning services, payment of club dues,
         a car allowance or use of an automobile and payment of related
         expenses, as appropriate) in accordance with the most favorable plans,
         practices, programs and policies of the Company in effect on the date
         hereof.

                         (vii)  Vacation. During the Employment Period, the
         Executive shall be entitled to paid vacation in accordance with the
         most favorable plans, policies, programs and practices of the Company
         and its affiliated companies in effect for the Executive on the date
         hereof.

3.       Termination of Employment.

                  (a)    Death or Disability. The Executive's employment
shall terminate automatically upon the Executive's death during the Employment
Period. If the Company determines in good faith that the Disability of the
Executive has occurred during the Employment Period (pursuant to the definition
of Disability set forth below), it may give to the Executive written notice in
accordance with Section 10(b) of this Agreement of its intention to terminate
the Executive's employment. In such event, the Executive's employment with the
Company shall terminate effective 30 days after receipt of such notice by the
Executive (the "Disability Effective Date"), provided that within the 30-day
period after such receipt, the Executive shall not have returned to full-time
performance of the Executive's duties. For purposes of this Agreement,
"Disability" shall mean the absence of the Executive from the Executive's duties
with the Company on a full-time basis for 180 calendar days as a result of
incapacity due to mental or physical illness that is determined to be total and
permanent by a physician selected by the Company or its insurers and acceptable
to the Executive or the Executive's legal representative.

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                  (b)    Cause. The Company may terminate the Executive's
employment during the Employment Period for Cause.  For purposes of this
Agreement, "Cause" shall mean:

                         (i)    the willful and continued failure of the
         Executive to perform substantially the Executive's duties with the
         Company or one of its affiliates (other than any such failure resulting
         from incapacity due to physical or mental illness), after a written
         demand for substantial performance is delivered to the Executive by the
         Board that specifically identifies the manner in which the Board
         believes that the Executive has not substantially performed the
         Executive's duties, or

                         (ii)   the willful engaging by the Executive in
         illegal conduct or gross misconduct that is materially and demonstrably
         injurious to the Company.

                  For purposes of this provision, no act, or failure to act, on
the part of the Executive shall be considered "willful" unless it is done, or
omitted to be done, by the Executive in bad faith or without reasonable belief
that the Executive's action or omission was in the best interests of the
Company. Any act, or failure to act, based upon authority given pursuant to a
resolution duly adopted by the Board or based upon the advice of counsel for the
Company shall be conclusively presumed to be done, or omitted to be done, by the
Executive in good faith and in the best interests of the Company. The cessation
of employment of the Executive shall not be deemed to be for Cause unless and
until there shall have been delivered to the Executive a copy of a resolution
duly adopted by the affirmative vote of not less than three-quarters of the
entire membership of the Board at a meeting of the Board called and held for
such purpose (after reasonable notice is provided to the Executive and the
Executive is given an opportunity, together with counsel, to be heard before the
Board), finding that, in the good faith opinion of the Board, the Executive is
guilty of the conduct described in subparagraph (i) or (ii) above, and
specifying the particulars thereof in detail.

                  (c)    Good Reason.  The Executive's employment may be
terminated by the Executive during the Employment Period for Good Reason. For
purposes of this Agreement, "Good Reason" shall mean:

                         (i)    the assignment to the Executive of any
         duties inconsistent in any respect with the Executive's position
         (including status, offices, titles and reporting requirements),
         authority, duties or responsibilities as contemplated by Section 2(a)
         of this Agreement, or any other action by the Company that results in a
         diminution in such position, authority, duties or responsibilities,
         excluding for this purpose an isolated, insubstantial and inadvertent
         action not taken in bad faith and that is remedied by the Company
         promptly after receipt of notice thereof given by the Executive;

                         (ii)   the assignment to the Executive of any
         duties inconsistent in any respect with the Executive's position
         (including status, offices, titles and reporting requirements),
         authority, duties or responsibilities as contemplated by Section 2(a)
         of this Agreement, or any other action by the Company that results in a
         diminution in such position, authority, duties or responsibilities,
         including if there were to occur a merger, consolidation or other
         business combination involving the Company, where the Executive does
         not have the status, office, title and reporting requirements at the
         ultimate parent company that are substantially similar to that which
         the Executive has with the Company;

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                         (iii)  any failure by the Company to comply with
         any of the provisions of Section 2(b) of this Agreement, other than an
         isolated, insubstantial and inadvertent failure not occurring in bad
         faith and that is remedied by the Company promptly after receipt of
         notice thereof given by the Executive;

                         (iv)   the Company's requiring the Executive to
         be based at any office or location other than as provided in Section
         2(a)(i)(B) hereof or the Company's requiring the Executive to travel on
         Company business to a substantially greater extent than required
         immediately prior to the date hereof;

                         (v)    any purported termination by the Company of the
         Executive's employment otherwise than as expressly permitted by this
         Agreement; or

                         (vi)   any failure by the Company to comply with and
         satisfy Section 9(c) of this Agreement.

                  For purposes of this Section 3(c), any good faith
determination of "Good Reason" made by the Executive shall be conclusive.

                  (d)    Notice of Termination. Any termination during the
Employment Period by the Company for Cause, or by the Executive for Good Reason,
shall be communicated by Notice of Termination to the other party hereto given
in accordance with Section 10(b) of the Agreement. For purposes of this
Agreement, a "Notice of Termination" means a written notice that (i) indicates
the specific termination provision in this Agreement relied upon, (ii) to the
extent applicable, sets forth in reasonable detail the facts and circumstances
claimed to provide a basis for termination of the Executive's employment under
the provision so indicated and (iii) if the Date of Termination (as defined
below) is other than the date of receipt of such notice, specifies the
termination date (which date shall be not more than 30 days after the giving of
such notice). The failure by the Executive or the Company to set forth in the
Notice of Termination any fact or circumstance that contributes to a showing of
Good Reason or Cause shall not waive any right of the Executive or the Company,
respectively, from asserting such fact or circumstance in enforcing the
Executive's or the Company's rights hereunder.

                  (e)    Date of Termination.  "Date of Termination" shall mean:

                         (i)    if the Executive's employment is terminated by
         the Company for Cause, or by the Executive for Good Reason, the date of
         receipt of the Notice of Termination or any later date specified
         therein, as the case may be;

                         (ii)   if the Executive's employment is terminated by
         the Company other than for Cause, death or Disability, the Date of
         Termination shall be the date on which the Company notifies the
         Executive of such termination; and

                         (iii)  if the Executive's employment is terminated by
         reason of death or Disability, the Date of Termination shall be the
         date of death of the Executive or the Disability Effective Date, as the
         case may be.

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4.       Obligations of the Company Upon Termination.

                  (a)    Good Reason; Other than For Cause, Death or Disability.
If, during the Employment Period, the Company shall terminate the Executive's
employment other than for Cause, death or Disability, or the Executive shall
terminate employment for Good Reason:

                         (i)    The Company shall pay to the Executive in a lump
         sum in cash within 30 days after the Date of Termination the aggregate
         of the following amounts:

                                (A)  the sum of (1) the Executive's Annual Base
                   Salary through the Date of Termination to the extent not
                  theretofore paid, (2) the product of (x) the higher of (I) the
                  highest Annual Bonus received by the Executive over the
                  preceding three year period (and if terminated within three
                  years from the date hereof, such bonus shall equal at a
                  minimum 120% of the Annual Base Salary) and (II) the Annual
                  Bonus paid or payable, including any bonus or portion thereof
                  that has been earned but deferred (and annualized for any
                  fiscal year consisting of less than 12 full months or during
                  which the Executive was employed for less than 12 full
                  months), for the most recently completed fiscal year during
                  the Employment Period, if any (such higher amount being
                  referred to as the "Highest Annual Bonus") and (y) a fraction,
                  the numerator of which is the number of days in the current
                  fiscal year through the Date of Termination, and the
                  denominator of which is 365, and (3) any compensation
                  previously deferred by the Executive under a plan sponsored by
                  the Company (together with any accrued interest or earnings
                  thereon), and any accrued vacation pay, in each case to the
                  extent not theretofore paid (the sum of the amounts described
                  in clauses (1), (2) and (3) shall be hereinafter referred to
                  as the "Accrued Obligations"), and

                                (B)  an amount equal to three times the sum of
                  (i) the then current Annual Base Salary of the Executive and
                  (ii) the Highest Annual Bonus, and

                                (C)  an amount equal to the total of the
                  employer matching contributions credited to the Executive
                  under the Company's 401(k) Savings Plan (the "401(k) Plan") or
                  any other deferred compensation plan during the 12-month
                  period immediately preceding the month of the Executive's Date
                  of Termination multiplied by three, such amount to be grossed
                  up so that the amount the Executive actually receives after
                  payment of any federal or state taxes payable thereon equals
                  the amount first described above.

                         (ii)   For a period of three years from the Executive's
         Date of Termination (the "Remaining Contract Term") or such longer
         period as may be provided by the terms of the appropriate plan,
         program, practice or policy, the Company shall continue benefits to the
         Executive and/or the Executive's family equal to those that would have
         been provided to them in accordance with the plans, programs, practices
         and policies described in Section 2(b)(iv) of this Agreement if the
         Executive's employment had not been terminated; provided, however, that
         with respect to any of such plans, programs, practices or policies
         requiring an employee contribution, the Executive shall continue to pay
         the monthly employee

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         contribution for same, and provided further, that if the Executive
         becomes reemployed by another employer and is eligible to receive
         medical or other welfare benefits under another employer provided plan,
         the medical and other welfare benefits described herein shall be
         secondary to those provided under such other plan during such
         applicable period of eligibility;

                         (iii)  The Company shall, at its sole expense as
         incurred, provide the Executive with outplacement services, the scope
         and provider of which shall be selected by the Executive in his sole
         discretion;

                         (iv)   All country club memberships, luncheon clubs and
         other memberships that the Company was providing for the Executive's
         use at the time Notice of Termination is given shall, to the extent
         possible, be transferred and assigned to the Executive at no cost to
         the Executive (other than income taxes owed), the cost of transfer, if
         any, to be borne by the Company;

                         (v)    The Company shall either transfer to the
         Executive ownership and title to the Executive's company car at no cost
         to the Executive (other than income taxes owed) or, if the Executive
         receives a monthly car allowance in lieu of a Company car, pay the
         Executive a lump sum in cash within 30 days after the Executive's Date
         of Termination equal to the Executive's annual car allowance multiplied
         by three;

                         (vi)   All benefits under the Company's Executive
         Deferred Compensation Plan and the 401(k) Plan and any other similar
         plans, including any stock options or restricted stock held by the
         Executive, not already vested or to be vested under the terms of the
         options plan shall be 100% vested, to the extent such vesting is
         permitted under the Code (as defined below);

                         (vii)  To the extent not theretofore paid or
         provided, the Company shall timely pay or provide to the Executive any
         other amounts or benefits required to be paid or provided or that the
         Executive is eligible to receive under any plan, program, policy or
         practice or contract or agreement of the Company and its affiliated
         companies (such other amounts and benefits shall be hereinafter
         referred to as the "Other Benefits"); and

                         (ix)   The foregoing payments are intended to
         compensate the Executive for a breach of the Company's obligations and
         place Executive in substantially the same position had the employment
         of the Executive not been so terminated as a result of a breach by the
         Company.

                  (b)    Death. If Executive's employment is terminated by
reason of the Executive's death during the Employment Period, this Agreement
shall terminate without further obligations to the Executive's legal
representatives under this Agreement, other than for payment of Accrued
Obligations and the timely payment or provision of Other Benefits. Accrued
Obligations shall be paid to the Executive's estate or beneficiaries, as
applicable, in a lump sum in cash within 30 days after the Date of Termination.
With respect to the provision of Other Benefits, the term Other Benefits as
utilized in this Section 4(b) shall include, without limitation, and the
Executive's estate and/or beneficiaries shall be entitled to receive, benefits
at least equal to the most favorable benefits

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provided by the Company and affiliated companies to the estates and
beneficiaries of the Executive's peer executives of the Company and such
affiliated companies under such plans, programs, practices and policies relating
to death benefits, if any, in effect on the date hereof or, if more favorable,
those in effect on the date of the Executive's death.

                  (c)    Disability. If the Executive's employment is
terminated by reason of the Executive's Disability during the Employment Period,
this Agreement shall terminate without further obligations to the Executive,
other than for payment of Accrued Obligations and the timely payment or
provision of Other Benefits. Accrued Obligations shall be paid to the Executive
in a lump sum in cash within 30 days after the Date of Termination. With respect
to the provision of Other Benefits, the term Other Benefits as utilized in this
Section 4(c) shall include, without limitation, and the Executive shall be
entitled after the Disability Effective Date to receive, disability and other
benefits at least equal to the most favorable benefits generally provided by the
Company and its affiliated companies to the Executive's disabled peer executives
and/or their families in accordance with such plans, programs, practices and
policies relating to disability, if any, in effect generally on the date hereof
or, if more favorable, those in effect at the time of the Disability.

                  (d) Cause; Other Than for Good Reason. If the Executive's
employment is terminated for Cause during the Employment Period, this Agreement
shall terminate without further obligations to the Executive, other than the
obligation to pay to the Executive (x) his or her Annual Base Salary through the
Date of Termination, (y) the amount of any compensation previously deferred by
the Executive and (z) Other Benefits, in each case to the extent theretofore
unpaid. If the Executive voluntarily terminates employment during the Employment
Period, excluding a termination for Good Reason, this Agreement shall terminate
without further obligations to the Executive, other than for Accrued Obligations
and the timely payment or provision of Other Benefits. In such case, all Accrued
Obligations shall be paid to the Executive in a lump sum in cash within 30 days
after the Date of Termination subject to such other options or restrictions as
provided by law.

        5. Other Rights. Except as provided hereinafter, nothing in
this Agreement shall prevent or limit the Executive's continuing or future
participation in any plan, program, policy or practice provided by the Company
or any of its affiliated companies and for which the Executive may qualify, nor
shall anything herein limit or otherwise affect such rights as the Executive may
have under any contract or agreement with the Company or any of its affiliated
companies. Except as provided hereinafter, amounts that are vested benefits or
that the Executive is otherwise entitled to receive under any plan, policy,
practice or program of or any contract or agreement with the Company or any of
its affiliated companies at or subsequent to the Date of Termination shall be
payable in accordance with such plan, policy, practice or program or contract or
agreement. It is expressly agreed by the Executive that he or she shall have no
right to receive, and hereby waives any entitlement to, any severance pay or
similar benefit under any other plan, policy, practice or program of the
Company. In addition, if the Executive has an employment or similar agreement
with the Company at the Date of Termination, he or she agrees that he or she
shall have the right to receive all of the benefits provided under this
Agreement or such other agreement, whichever one, in its entirety, the Executive
chooses, but not both agreements, and when the Executive has made such election,
the other agreement shall be superseded in its entirety and shall be of no
further force and effect. The Executive also agrees that to the extent he or she
may be eligible for any severance pay or similar benefit under any laws
providing for severance or termination benefits, such other

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severance pay or similar benefit shall be coordinated with the benefits owed
hereunder, such that the Executive shall not receive duplicate benefits.

6.       Full Settlement.

                  (a)  No Rights of Offset. The Company's obligation to
make the payments provided for in this Agreement and otherwise to perform its
obligations hereunder shall not be affected by any set-off, counterclaim,
recoupment, defense or other claim, right or action that the Company may have
against the Executive or others.

                  (b)  No Mitigation Required. In no event shall the
Executive be obligated to seek other employment or take any other action by way
of mitigation of the amounts payable to the Executive under any of the
provisions of this Agreement and such amounts shall not be reduced whether or
not the Executive obtains other employment.

                  (c)  Legal Fees. The Company agrees to pay as incurred,
to the full extent permitted by law, all legal fees and expense that the
Executive may reasonably incur as a result of any contest (regardless of the
outcome thereof) by the Company or the Executive of the validity or
enforceability of, or liability under, any provision of this Agreement or any
guarantee of performance thereto (including as a result of any contest by the
Executive about the amount of any payment pursuant to this Agreement), plus in
each case interest on any delayed payment at the applicable Federal rate
provided for in Section 7872(f)(2)(A) of the Internal Revenue Code of 1986, as
amended (the "Code").

7.       Certain Additional Payments by the Company.

                  (a)  Although this Agreement is not being entered into
in connection with or contingent upon a change of control of the Company,
anything in this Agreement to the contrary notwithstanding and except as set
forth below, in the event it shall be determined that any payment or
distribution by the Company to or for the benefit of the Executive (whether paid
or payable or distributed or distributable pursuant to the terms of this
Agreement or otherwise, but determined without regard to any additional payments
required under this Section 7) (a "Payment") would be subject to the excise tax
imposed by Section 4999 of the Code or any interest or penalties are incurred by
the Executive with respect to such excise tax (such excise tax, together with
any such interest and penalties, are hereinafter collectively referred to as the
"Excise Tax"), then the Executive shall be entitled to receive an additional
payment (a "Gross-Up Payment") in an amount such that after payment by the
Executive of all taxes (including any interest or penalties imposed with respect
to such taxes), including, without limitation, any income taxes (and any
interest and penalties imposed with respect thereto) and Excise Tax imposed upon
the Gross-Up Payment, the Executive retains an amount of the Gross-Up Payment
equal to the Excise Tax imposed upon the Payments. Notwithstanding the foregoing
provisions of this Section 7(a), if it shall be determined that the Executive is
entitled to a Gross-Up Payment, but that the Executive, after taking into
account the Payments and the Gross-Up Payment, would not receive a net after-tax
benefit of at least $50,000 (taking into account both income taxes and any
Excise Tax) as compared to the net after-tax proceeds to the Executive resulting
from an elimination of the Gross-Up Payment and a reduction of the Payments, in
the aggregate, to an amount (the "Reduced Amount") such that the receipt of

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Payments would not give rise to any Excise Tax, then no Gross-Up Payment shall
be made to the Executive and the Payments, in the aggregate, shall be reduced to
the Reduced Amount.

                  (b)  Subject to the provisions of Section 7(c), all
determinations required to be made under this Section 7, including whether and
when a Gross-Up Payment is required and the amount of such Gross-Up Payment and
the assumptions to be utilized in arriving at such determination, shall be made
by Arthur Andersen LLP or, as provided below, such other certified public
accounting firm as may be designated by the Executive (the "Accounting Firm"),
which shall provide detailed supporting calculations both to the Company and the
Executive within 15 business days after the receipt of notice from the Executive
that there has been a Payment, or such earlier time as is requested by the
Company. In the event that the Accounting Firm is serving as accountant or
auditor for the individual, entity or group effecting the change of control, the
Executive shall appoint another nationally recognized accounting firm to make
the determinations required hereunder (which accounting firm shall then be
referred to as the Accounting Firm hereunder). All fees and expenses of the
Accounting Firm shall be borne solely by the Company. Any Gross-Up Payment, as
determined pursuant to this Section 7, shall be paid by the Company to the
Executive within five days after the receipt of the Accounting Firm's
determination. Any determination by the Accounting Firm shall be binding upon
the Company and the Executive. As a result of the uncertainty in the application
of Section 4999 of the Code at the time of the initial determination by the
Accounting Firm hereunder, it is possible that Gross-Up Payments that will not
have been made by the Company should have been made ("Underpayment"), consistent
with the calculations required to be made hereunder. In the event that the
Company exhausts its remedies pursuant to Section 7(c) and the Executive
thereafter is required to make a payment of any Excise Tax, the Accounting Firm
shall determine the amount of the Underpayment that has occurred and any such
Underpayment shall be promptly paid by the Company to or for the benefit of the
Executive.

                  (c)  The Executive shall notify the Company in writing
of any claim by the Internal Revenue Service that, if successful, would require
the payment by the Company of the Gross-Up Payment (or an additional Gross-Up
Payment) in the event the IRS seeks higher payment. Such notification shall be
given as soon as practicable, but no later than ten business days after the
Executive is informed in writing of such claim, and shall apprise the Company of
the nature of such claim and the date on which such claim is requested to be
paid. The Executive shall not pay such claim prior to the expiration of the
30-day period following the date on which he gives such notice to the Company
(or such shorter period ending on the date that any payment of taxes with
respect to such claim is due). If the Company notifies the Executive in writing
prior to the expiration of such period that it desires to contest such claim,
the Executive shall:

                         (i)    give the Company any information reasonably
         requested by the Company relating to such claim,

                         (ii)   take such action in connection with contesting
         such claim as the Company shall reasonably request in writing from time
         to time, including, without limitation, accepting legal representation
         with respect to such claim by an attorney reasonably selected by the
         Company,
                         (iii)  cooperate with the Company in good faith
         effectively to contest such claim, and

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<PAGE>   11

                         (iv)   permit the Company to participate in any
         proceedings relating to such claims; provided, however, that the
         Company shall bear and pay directly all costs and expenses (including
         additional interest and penalties) incurred in connection with such
         costs and shall indemnify and hold the Executive harmless, on an
         after-tax basis, for any Excise Tax or income tax (including interest
         and penalties with respect thereto) imposed as a result of such
         representation and payment of costs and expenses. Without limitation on
         the foregoing provisions of this Section 7(c), the Company shall
         control all proceedings taken in connection with such contest and, at
         its sole option, may pursue or forego any and all administrative
         appeals, proceedings, hearings and conferences with the taxing
         authority in respect of such claim and may, at its sole option, either
         direct the Executive to pay the tax claimed and sue for a refund or
         contest the claim in any permissible manner, and the Executive agrees
         to prosecute such contest to determination before any administrative
         tribunal, in a court of initial jurisdiction and in one or more
         appellate courts, as the Company shall determine; provided, however,
         that if the Company directs the Executive to pay such claim and sue for
         a refund, the Company shall advance the amount of such payment to the
         Executive, on an interest-free basis, and shall indemnify and hold the
         Executive harmless, on an after-tax basis, from any Excise Tax or
         income tax (including interest or penalties with respect thereto)
         imposed with respect to such advance or with respect to any imputed
         income with respect to such advance; and further provided that any
         extension of the statute of limitations relating to payment of taxes
         for the taxable year of the Executive with respect to which such
         contested amount is claimed to be due is limited solely to such
         contested amount. Furthermore, the Company's control of the contest
         shall be limited to issues with respect to which a Gross-Up Payment
         would be payable hereunder and the Executive shall be entitled to
         settle or contest, as the case may be, any other issues raised by the
         Internal Revenue Service or any other taxing authority.

                  (d)  If, after the receipt by the Executive of an amount
advanced by the Company pursuant to Section 7(c), the Executive becomes entitled
to receive any refund with respect to such claim, the Executive shall (subject
to the Company's complying with the requirements of Section 7(c)) promptly pay
to the Company the amount of such refund (together with any interest paid or
credited thereon after taxes applicable thereto). If, after the receipt by the
Executive of an amount advanced by the Company pursuant to Section 7(c), a
determination is made that the Executive shall not be entitled to any refund
with respect to such claim and the Company does not notify the Executive in
writing of its intent to contest such denial of refund prior to the expiration
of 30 days after such determination, then such advance shall be forgiven and
shall not be required to be repaid and the amount of such advance shall offset,
to the extent thereof, the amount of Gross-Up Payment required to be paid.

8.       Confidential Information. The Executive shall hold in a
fiduciary capacity for the benefit of the Company all secret or confidential
information, knowledge or data relating to the Company or any of its affiliated
companies, and their respective businesses, that shall have been obtained by the
Executive during the Executive's employment by the Company or any of its
affiliated companies, provided that it shall not apply to information that is or
shall become public knowledge (other than by acts by the Executive or
representatives of the Executive in violation of this Agreement), information
that is developed by the Executive independently of such information, or
knowledge or data or information that is disclosed to the Executive by a third
party under no

                                       11

<PAGE>   12

obligation of confidentiality to the Company. After termination of the
Executive's employment with the Company, the Executive shall not, without the
prior written consent of the Company or as may otherwise be required by law or
legal process, communicate or divulge any such information, knowledge or data to
anyone other than the Company and those designated by it. In no event shall an
asserted violation of the provisions of this Section 8 constitute a basis for
deferring or withholding any amounts otherwise payable to the Executive under
this Agreement.

9.       Successors.

                  (a)  This Agreement is personal to the Executive and shall not
be assignable by the Executive otherwise than by will or the laws of descent and
distribution. This Agreement shall inure to the benefit of and be enforceable by
the Executive's legal representatives.

                  (b)  This Agreement shall inure to the benefit of and be
binding upon the Company and its successors and assigns.

                  (c)  The Company will require any successor (whether
direct or indirect, by purchase, merger, consolidation or otherwise) to all or
substantially all of the business and/or assets of the Company to assume
expressly and agree to perform this Agreement in the same manner and to the same
extent that the Company would be required to perform it if no such succession
had taken place. As used in this Agreement, "Company" shall mean the Company as
hereinbefore defined and any successor to its business and/or assets as
aforesaid that assumes and agrees to perform this Agreement by operation of law,
or otherwise.

10.      Miscellaneous.

                  (a)  THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN
ACCORDANCE WITH THE LAWS OF THE STATE OF TEXAS, WITHOUT REFERENCE TO PRINCIPLES
OF CONFLICT OF LAWS. The captions of this Agreement are not part of the
provisions hereof and shall have no force or effect. This Agreement may not be
amended or modified otherwise than by a written agreement executed by the
parties hereto or their respective successors and legal representatives.

                  (b)  All notices and other communications hereunder shall be
in writing and shall be given by hand delivery to the other party or by
registered or certified mail, return receipt requested, postage prepaid,
addressed as follows:

                  If to the Executive:       Curtis W. Huff
                                             Grant Prideco, Inc.
                                             1450 Lake Robbins Drive, Suite 600
                                             The Woodlands, Texas 77380

                  If to the Company:          Grant Prideco, Inc.
                                              1450 Lake Robbins Drive, Suite 600
                                              The Woodlands, Texas 77380
                                              Attention: Chairman of the Board
                                       12

<PAGE>   13

                  with a copy to:             Grant Prideco, Inc.
                                              1450 Lake Robbins Drive, Suite 600
                                              The Woodlands, Texas 77380
                                              Attention: General Counsel

or to such other address as either party shall have furnished to the other in
writing in accordance herewith. Notices and communications shall be effective
when actually received by the addressee.

                  (c)  The invalidity or unenforceability of any provision
of this Agreement shall not affect the validity or enforceability of any other
provision of this Agreement.

                  (d)  The Company may withhold from any amounts payable
under this Agreement such Federal, state, local or foreign taxes as shall be
required to be withheld pursuant to any applicable law or regulation.

                  (e)  The Executive's or the Company's failure to insist
upon strict compliance with any provision of this Agreement or the failure to
assert any right the Executive or the Company may have hereunder, including,
without limitation, the right of the Executive to terminate employment for Good
Reason pursuant to Section 3(c)(i)-(v) of this Agreement, shall not be deemed to
be a waiver of such provision or right or any other provision or right of this
Agreement.

                                       13

<PAGE>   14

      IN WITNESS WHEREOF, the Executive has hereunto set the Executive's hand
and, pursuant to the authorization from its Board of Directors, the Company has
caused these presents to be executed in its name on its behalf, all as of the
day and year first above written.

                                                      /s/ Curtis W. Huff
                                                 -------------------------------
                                                        Curtis W. Huff

                                                GRANT PRIDECO, INC.

                                                By  /s/ Bernard J. Duroc-Danner
                                                  ------------------------------
                                                Name: Bernard J. Duroc-Danner
                                                  ------------------------------
                                                Title: Chairman of the Board
                                                  ------------------------------

                                      14<PAGE>   1
                                                                   EXHIBIT 10.15

CONFIDENTIAL TREATMENT REQUESTED

                            PONTIKI COAL CORPORATION
                              COAL SALES AGREEMENT

  Administrative Offices: 1717 South Boulder Avenue, Tulsa Oklahoma 74119-4886
               Correspondence: P.O. Box 22027, Tulsa OK 74121-2027
                    Phone: 918-592-7262 // Fax: 918-582-8421

    SALES AGREEMENT NO.        ISSUE DATE               SALESMAN

        PON98-01              03 October 1998        Gary J. Rathburn

<TABLE>
<S>               <C>                           <C>              <C>
BUYER:            A.E.I. Coal Sales, Inc.       SELLER:          Pontiki Coal Corporation
                  1500 N. Big Run Road                           P.O. Box 801, Route 1401
                  Ashland, KY 41102                              Lovely, KY 41231
                                                                 606-395-5348 (phone)
                                                                 606-395-5529 (fax)

SHIP TO:          *****                         INVOICE TO:      A.E.I. Coal Sales, Inc.
                  As directed by Buyer                           Attn: Accounts Payable
                                                                 1500 N. Big Run Road
                                                                 Ashland, KY 41102
</TABLE>

SELLER'S AGENT:   Seller has appointed MAPCO Coal Sales, a division of MAPCO
                  Coal Inc., to act as Seller's Agent for administration of this
                  Agreement.

ORIGIN POINT:     Pontiki Coal Corporation, Pontiki Mine

TERM OF ORDER:    ***** thru *****
                  ***** Year Agreement

QUANTITY:         ***** Net Tons
                  ***** -- *****      ***** nt per year

                  ***** net tons firm per year ***** thru *****. Starting *****,
                  Seller has the option to increase quarterly shipments by *****
                  net tons per quarter up to a maximum of *****  tons per year.
                  Seller must give Buyer notice to sell an additional ***** net
                  tons/quarter ***** days in advance of the 1st day of each
                  contract quarter. Failure to do so relieves Buyer of any
                  responsibility to take additional coal in that contract
                  quarter.

----------
****** denotes confidential information with respect to which a separate
confidential treatment request has been filed with the Securities and Exchange
Commission.

<PAGE>   2

ROUTING:          Norfolk Southern Rail Direct - Responsibility of Buyer

SCHEDULE:         In accordance with the *****/Marrowbone contract as Attachment
                  B.

                            PONTIKI COAL CORPORATION
                              Coal Sales Agreement
                                     page 2

Sales Agreement No: PON98-01     Issued: 03Oct98      Salesman: Gary J. Rathburn

DELIVERY POINT:            F.O.B. Pontiki Mine in Railcars
<TABLE>
<S>        <C>                                                       <C>
PRICE:     Pontiki Mine
           ***** thru *****  Invoice Price F.O.B. Railcars at Mine    $*****
                                                                     /Net Ton
           ***** thru *****  Invoice Price F.O.B. Railcars at Mine    $*****
                                                                     /Net Ton
           ***** thru *****  Invoice Price F.O.B. Railcars at Mine    $*****
                                                                     /Net Ton
           ***** thru *****  Invoice Price F.O.B. Railcars at Mine    $*****
                                                                     /Net Ton
           ***** thru *****  Invoice Price F.O.B. Railcars at Mine    $*****
                                                                     /Net Ton
           ***** thru *****  Invoice Price F.O.B. Railcars at Mine    $*****
                                                                     /Net Ton
           ***** thru *****  Invoice Price F.O.B. Railcars at Mine    $*****
                                                                     /Net Ton
           ***** thru *****  Invoice Price F.O.B. Railcars at Mine    $*****
                                                                     /Net Ton
</TABLE>

           During the winter months Seller will provide freezeproofing upon
           request. Buyer will reimburse Seller at Seller's cost.

TYPE OF COAL:               Steam Nutslack Coal

<TABLE>
<CAPTION>

QUALITY SPECIFICATIONS:                     Minimum           Maximum           Typical              Condition
-----------------------                     -------           -------           -------              ---------
<S>               <C>                       <C>               <C>               <C>                 <C>
Pontiki Mine      BTU                       *****/lb                            *****/lb            As Received
                  MOISTURE                                    *****%                                As Received
                  ASH                                         *****%                                As Received
                  SO2/MMBTU                                   *****#                                As Received
</TABLE>

Size:   2" x 0"

Above mine specs apply on a monthly weighted average basis, except as otherwise
provided in Attachment A.

The coal shall comply with all other quality specifications set forth in
Attachment A.

SAMPLING AND ANALYSIS:      Sampling & analysis in accordance with Attachment A.

PREMIUM/PENALTY PROVISIONS: Calculated on monthly weighted average. Fractions
                            pro rata.

    Btu:   Premium/Penalty of $*****/nt for each ***** btu above/below *****.
    $***** x ((Actual - *****) / *****) x tons received under PO = Adjustment

    Payment to be mailed on or before the 25th of the month following the month
    the coal was received. Seller to invoice Buyer separately for quality
    adjustments.

<PAGE>   3

           See Attachment A for additional premium/penalty provisions.

WEIGHT DETERMINATION:    Railroad Weight Certificates as provided by Buyer at
                         destination.

                            PONTIKI COAL CORPORATION
                              Coal Sales Agreement
                                     page 3

Sales Agreement No: PON98-01  Issued: 03Oct98         Salesman: Gary J. Rathburn

PAYMENT TERMS:    Coal Received    01st - 15th       due 10th of next month
                                   16th - 31st       due 25th of next month

          Payment remittance may come directly from Buyer or *****.

          If payment by check to: MAPCO Coal Sales, P.O. Box 70374, Chicago IL
          60673 (MAPCO Coal Sales serving in capacity as Sales Agent for Pontiki
          Coal Corporation.)

          If payment by wire to: First National Bank of Chicago, Chicago IL, ABA
          number 071000013, MAPCO Coal account number 55-63968.

GOVERNMENTAL ACTION:   Seller will receive the benefit of Buyer's Governmental
                       Action Clause with Customer.

ENTIRE AGREEMENT. It is agreed that the terms set forth hereinabove and in
Attachments A and B attached hereto constitute the entire agreement between
Buyer and Seller with respect to the subject coal and that all other Agreements,
both oral and written, with respect to the subject coal made prior to the date
hereof are merged herein and no modification or assignment shall be effective
unless agreed to in writing.

ACCEPTED AND AGREED TO:                        ACCEPTED AND AGREED TO:

BY:  /s/ Marc Merritt                          BY:   /s/ Gary Rathburn
     ------------------------                        ---------------------------

DATE:    10/14/98                              DATE: 10/3/98
     ------------------------                        ---------------------------

TITLE:   President                             TITLE: Senior V.P. - Marketing
         --------------------                        ---------------------------

BUYER:  A.E.I. COAL SALES, INC.                SELLER: PONTIKI COAL CORPORATION

<PAGE>   4

                                  Attachment A
                         to Pontiki Coal Sales Agreement

                           OTHER TERMS AND CONDITIONS

1. TESTING. The coal shall be analyzed in accordance with ASTM procedures at
Seller's cost. The resulting analysis will determine the quality of coal
delivered under this Agreement. A portion (split) of samples taken by Seller
shall be sent to Buyer. A portion (referee split) of each sample shall be
retained for a period of thirty (30) days after the end of the month in which
the samples were taken. Seller will notify Buyer of sample analysis within 24
hours.

<PAGE>   5

2. RISK OF LOSS. Upon completion of unloading of a railcar, the risk of loss of
coal in that railcar shall be Buyer's.

3. EXPRESS WARRANTIES. Seller warrants that Buyer shall receive good title to
all coal delivered hereunder and Buyer agrees that Seller makes no other express
warranties except those identified in the quality provisions of the Agreement.

4. IMPLIED WARRANTIES. All warranties of merchantability or of fitness for a
particular purpose or arising from a course of dealing or usage of trade are
specifically excluded.

5. LIMITATION OF LIABILITY. In no event shall either party be liable to the
other for incidental or consequential damages in respect to the coal delivered
under this Agreement.

6. EXCUSE. "Force majeure" includes war, fire, flood, strike, railroad car
shortage, labor disruption, force majeure affecting Seller's suppliers and
Buyer's customers, accident, riot, acts of God, acts or orders of federal or
state government and any contingencies of like or different character beyond the
reasonable control of either party which directly interferes with the
production, supply or transportation of the coal to be delivered and accepted
under this Agreement. The parties shall be excused from their performance of any
obligation under this Agreement when the proximate cause of such nonperformance
is a circumstance of force majeure, except that a Buyer shall not be excused
from accepting and paying-for coal already shipped or delivered by Seller. In
the event the party claiming force majeure gives to the other prompt written
notice of such force majeure, the obligations of the notifying party so far as
they are affected by the circumstance of force majeure shall be suspended
during, but for no longer than, the continuation of the force majeure
circumstance. Deliveries of coal excused by a circumstance of force majeure
shall resume upon removal of the force majeure condition.

7. ASSIGNMENT. Neither Seller nor Buyer may assign the rights or delegate the
obligations created by this Agreement without the express written consent of the
other party, such consent not to be unreasonably withheld.

8. NONWAIVER. Failure of either party at the time to require performance of
terms and conditions of this Agreement shall not limit that party's right to
enforce the provisions of this Agreement, or shall any waiver of any breach of
any provision be a waiver of any succeeding breach of the provision itself or of
any other provision.

9. GOVERNING LAW. This Agreement shall be construed and enforced according to
the laws of Kentucky. Subject to Section 16 below, any lawsuit or legal
proceeding that arises under or by reason of this Agreement shall have its venue
in Federal or State court in Kentucky.

10. REMEDIES CUMULATIVE. Except as specifically provided, each remedy under this
Agreement is in addition to any other remedy provided in this Agreement or by
law, including, but not limited to, actions for specific performance.

<PAGE>   6

11. SUCCESSORS. This Agreement shall bind and inure to the benefit of the
parties and their respective successors and assigns.

12. ATTORNEY'S FEES. If either party commences any legal action or suit arising
out of this Agreement, the prevailing party in such action or suit shall be
entitled to recover reasonable attorneys' fees and expenses, including fees and
expenses on appeal and petition for review, as determined by the appropriate
court. In the event that different parties prevail on different issues in the
legal action or suit, the parties may choose to (a) pay their own attorney's
fees and expenses or, (b) reasonably allocate the costs associated with each
issue.

13. ADDITIONAL PENALTY/PREMIUM PROVISIONS. Moisture If the weighted average
moisture content calculated on a per purchase order basis exceeds *****%, a
price adjustment of $***** per ton per percentage point (fractions pro rata)
will be credited to Buyer for all tons shipped that month. If the weighted
average moisture content of any trainload shipment of coal exceeds *****%, a
price adjustment of $***** per ton will be credited to Buyer for all tons in
such trainload shipment.

Grindability if the weighted average grindability calculated on a per purchase
order basis is less than *****, a price adjustment of $***** per ton per grind
point (fractions pro rata) will be credited to Buyer for all tons shipped that
month. If the grindability of any trainload shipment of coal is less than *****,
a price adjustment of $***** per ton will be credited to Buyer for all tons on
such trainload shipment.

Ash If the weighted average ash content calculated on a per purchase order basis
exceeds *****%, a price adjustment of $***** per ton per percentage point
(fractions pro rata) will be credited to Buyer for all tons shipped under that
purchase order. If the ash content of any trainload shipment of coal exceeds
*****%, a price adjustment of $***** per ton will be credited to Buyer for all
tons in such trainload shipment.

SO(2) In no event shall any individual trainload shipment have sulfur in excess
of ***** lbs. SO(2)/MMBtu. Seller agrees to notify Buyer if any shipment of coal
hereunder exceeds ***** lbs. SO(2)/MMBtu within twenty-four (24) hours after it
is loaded. Buyer shall have the right to reject or reconsign such shipment, at
Seller's expense. In the event that a trainload shipment of coal is rejected by
Buyer, Seller shall reimburse Buyer for its actual costs incurred including
transportation from the mine to destination. ***** will not unload any trainload
shipment delivered hereunder until it has received Seller's analysis reflecting
a sulfur content of ***** pounds SO(2)/MMBtu or less. Seller agrees to reimburse
Buyer for any demurrage incurred by ***** as a result of its holding any
trainload shipment while awaiting receipt of such analysis.

14. For each shipment of coal, Seller will promptly forward to Buyer an invoice
specifying the date shipped, weight of the shipment and the invoice amount.
Interest will be charged on past due accounts at the rate per annum equal to the
prime rate charged by Chemical Bank of New York on the date payment is due, or
the highest rate of interest allowed by applicable law, whichever is lower.
Noncompliance with said terms of payment shall give the Seller the right to
suspend further shipments until payment is made for all previous shipments.
Further, in the event of non-compliance by AEI Resources, Inc. with its
obligations under its guaranty of this

<PAGE>   7

Agreement, the Seller shall have the right to suspend further shipments until
adequate security for payment is furnished or, if such security is not promptly
furnished and thereafter maintained, to cancel this Agreement with respect to
shipments not made. The foregoing remedies of Seller are not to be considered
exclusive but shall be cumulative and be in addition to any other remedies in
favor of Seller as provided herein or by law.

15. Seller may, but shall not be required to, supply coal from other sources
which conforms to the coal quality requirements of this Agreement. The cost of
such substitute coal shall not exceed the delivered cost per ton for coal to be
supplied from the source mine shown on the face of this Agreement. Any
substitute coal that Seller may provide shall be sold to Buyer under the same
terms and conditions of this Agreement. Seller's right to furnish substitute
coal shall not affect its right to claim force majeure excuse because of events
occurring at the mine. Buyer has the right to approve such substitute coal,
which approval shall not be unreasonably withheld.

16. All claims, demands, disputes, controversies, and differences that may arise
between the parties hereto that cannot be settled between the parties shall be
finally resolved by arbitration pursuant to the commercial rules of the American
Arbitration Association governing such proceeding which is to be held and
conducted before a panel of three (3) arbitrators in Lexington, Kentucky. A
decision of the majority of the arbitrators shall be binding upon the parties
hereto.

17. This Agreement shall be construed and enforced in accordance with the laws
of Kentucky.

18. All remedial and payment obligations of the parties provided herein shall
survive the termination, cancellation or expiration of this Agreement.

                                                                 October 3, 1998
                                  Attachment B
                         to Pontiki Coal Sales Agreement

(a)   (1)  On or prior to December 1 of each calendar year during the term
           hereof, Seller shall provide Buyer with a tentative schedule of
           monthly coal shipments during

<PAGE>   8
           the ensuing calendar year. Buyer shall promptly review this schedule
           and notify Seller of any modifications within ten (10) business days
           of receipt. Buyer and Seller shall then agree on the tentative
           monthly shipping schedule for the ensuing calendar year on or prior
           to December 20.

      (2)  Buyer shall specify to Seller on or prior to the twenty-fifth day of
           each calendar month during the term hereof the dates and destinations
           for shipments to be made hereunder in the next succeeding calendar
           month; provided, however, that Buyer reserves the right to change the
           destination of such shipments at any time.

(b)   The term "ton" as used herein shall mean a net ton of two thousand pounds,
      avoirdupoi weight.

(c)   Seller will load coal sold hereunder pursuant to trainload or other
      applicable tariffs (and supplements) established by the railroad that will
      haul the coal, and such other tariffs as may evolve that are mutually
      acceptable to Buyer, Seller and the railroad. Loading of trains at the
      rate of at least 10,000 tons in a 4-hour period will be performed by
      Seller, exclusive of holidays, in accordance with the provisions of
      applicable freight tariffs.

(d)   Buyer and Seller shall mutually arrange for the necessary rail cars to
      make the specified deliveries and Seller shall cause the coal to be loaded
      in a manner that will assure reasonably uniform consistency as to size and
      quality. Seller shall cause each rail car to be loaded to full visible
      capacity, and shall reimburse Buyer for any penalty and freight charges
      resulting from deficits in carload minimum weight. Seller shall pay any
      costs of demurrage or storage at the shipping points not caused by Buyer.

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