Document:

exv10w21

	 	 	 	 	 

EXHIBIT 10.21

AMENDMENT NO. 1 TO

SENIOR MANAGEMENT AGREEMENT

     THIS AMENDMENT NO. 1 TO SENIOR MANAGEMENT AGREEMENT (this “Amendment”), dated as of August 24,
2011 is made by and among Capella Holdings, Inc., a Delaware corporation (the “Company”),
Capella Healthcare, Inc., a Delaware corporation (“Employer”), Michael Wiechart
(“Executive”), and GTCR Fund VIII, L.P., a Delaware limited partnership (the “Majority
Holder”).

RECITALS

     WHEREAS, the Company, Employer and Executive entered into a Senior Management Agreement, dated
as of May 26, 2009 (the “Senior Management Agreement”), pursuant to which Executive
acquired 600,000 shares of the Company’s Common Stock (the “Executive Securities”) through
indebtedness in the principal amount of $1,590,000 (the “Executive Note”);

     WHEREAS, in order to induce Executive to enter into the Agreement and to retain his services,
the Company agreed to provide an amount of deferred compensation to Executive that would be applied
to the purchase of the Executive Securities, conditioned on the Executive continuing employment
with the Employer through May 26, 2014, and this benefit was applied to reduce amounts payable
under the Executive Note;

     WHEREAS, the Company and Executive have entered into a Redemption Agreement, dated August 24,
2011, by which the Company has redeemed 120,000 shares of the Executive Securities from Executive
for a purchase price of $456,000 (the “Redemption”), which value shall be applied to the
repayment of the amount due on the Executive Note; and

     WHEREAS, the Company, Employer, Executive and the Majority Holder desire to amend the Senior
Management Agreement as set forth herein pursuant to Section 11(k) of the Senior Management
Agreement to (i) revise the terms of the Executive’s acquisition of the Executive Securities, (ii)
provide for the early repayment of the Executive Note, and (iii) continue the Executive’s
obligations under the deferred compensation arrangement in a manner that does not result in the
acceleration of Executive’s rights thereunder;

     NOW, THEREFORE, in consideration of the foregoing recitals, which shall constitute a part of
this Amendment, and the mutual promises contained in this Amendment, and intending to be legally
bound thereby, the parties agree as follows:

     1. The terms for Executive’s purchase of the Executive Securities described in Section 1 of
the Senior Management Agreement are hereby modified as follows:

     (a) Executive will deliver cash to the Company in the amount of $448,785.33, which,
together with the Redemption, represents repayment of principal due on the Executive Note in
the amount of $766,632 and all interest due on the principal balance.

     (b) In exchange for the satisfaction of the obligations of Executive under the
Executive Note in the amount of $823,368, Executive will continue to provide services

 

 

under the Senior Management Agreement and will be subject to the obligations described in
Section 2 below.

     (c) In consideration of the benefits to the Company under subsections (a) and (b) above
and the Executive’s obligations described in Section 2 below, the Executive Note
shall be considered fully repaid and Executive shall have no further obligation to the
Company under the Executive Note.

     2. The parties acknowledge that, in the event Executive does not continue employment with
Employer or a Subsidiary, Employer and the Company will suffer significant damages. Accordingly, in
order to make the Employer and the Company whole, Executive will pay to the Company the amounts
described in subsection (a) below in the event that Executive’s employment is terminated, unless
such employment is terminated by Employer without Cause or as a result of Disability or death or
Executive resigns for Good Reason.

     (a) Any amounts payable by Executive will be determined in accordance with the date of
termination of employment, as specified below.

     (i) $823,368 in the event of termination prior to May 26, 2012.

     (ii) $548,912 in the event of termination on or after May 26, 2012 but prior to
May 26, 2013.

     (iii) $274,456 in the event of termination on or after May 26, 2013 but prior
to May 26, 2014.

     (iv) No payment is required in the event of termination on or after May 26,
2014.

     (b) In lieu of collecting damages due from Executive under this Section, the Company
may reduce the purchase price of the Repurchase Option provided in Section 3 of the Senior
Management Agreement by the amount payable in Section 2(a) above.

     (c) Notwithstanding the foregoing, upon the consummation of a Sale of the Company or a
Public Offering, this Section 2 will no longer be effective and Executive will no
longer be subject to the potential damage payments described in Section 2(a).

     3. Section 2(b) of the Senior Management Agreement is superseded by the following:

     (a) 120,000 shares of the Executive Securities shall be treated as Vested Common Stock,
as provided under the terms of the Senior Management Agreement.

     (b) 360,000 shares of the Executive Securities shall continue to be Unvested Common
Stock. These shares shall become Vested Common Stock in accordance with the following
schedule, if as of each such date Executive is employed by the Company or any of its
Subsidiaries:

2

 

	 	 	 
	 	 	Shares of Common Stock Vested
	May 26, 2012

	 	120,000 shares
	May 26, 2013

	 	Additional 120,000 shares
	May 26, 2014

	 	Additional 120,000 shares

     4. The parties acknowledge that the lapse of the obligations described in Section 2 of
this Amendment constitute nonqualified deferred compensation within the meaning of section 409A of
the Internal Revenue Code and, accordingly, Executive hereby consents to any required tax
withholdings on such amounts at the time that Executive recognizes such income.

     5. The defined terms in the Senior Management Agreement have the same meaning for purposes of
this amendment, except where expressly provided otherwise.

     6. All other provisions of the Senior Management Agreement that are not expressly modified by
this amendment shall remain in full force and effect.

[Execution page follows]

3

 

     IN WITNESS WHEREOF, the parties hereto have executed this amendment to the Senior Management
Agreement on this the 24th day of August, 2011 but to be effective May 31, 2011.

	 	 	 	 	 
	 	CAPELLA HOLDINGS, INC.

 	 
	 	By:  	 	 
	 	 	Name:  	Daniel S. Slipkovich 	 
	 	 	Its:	       Chief Executive Officer 	 
	 
	 	CAPELLA HEALTHCARE, INC.

 	 
	 	By:  	 	 
	 	 	Name:  	Daniel S. Slipkovich 	 
	 	 	Its:  	     Chief Executive Officer 	 
	 
	 	MICHAEL WIECHART

 	 
	 	
 	 
	 	 	 
	 	 	 
	 

	 	 	 	 	 
	 	Agreed and Accepted by:

GTCR FUND VIII, L.P., as Majority Holder

 	 
	 	By:  	GTCR Partners VIII, L.P.
 	 
	 	 	Its:  General Partner 	 
	 	 	 
	 	By:  	GTCR Golder Rauner II, L.L.C.
 	 
	 	 	Its:  General Partner 	 
	 	 	 
	 	 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Its: 	 	 
	 

4exv10w1

Exhibit 10.1

Deed

	 

	Implementation deed

	 
	PEAMCoal Pty Ltd

	 
	Macarthur Coal Limited

	 
	tony.damian@freehills.com

	 	 	 

	MLC Centre Martin Place Sydney NSW 2000 Australia 

GPO Box 4227 Sydney NSW 2001 Australia 

Sydney Melbourne Perth Brisbane Singapore

	 	Telephone +61 2 9225 5000 Facsimile +61 2 9322 4000

www.freehills.com DX 361 Sydney 

Correspondent offices in Hanoi Ho Chi Minh City Jakarta

 

 

Contents

Table of contents

	 	 	 	 	 	 	 

	 

	 	The deed
	 	 	3	 
	 
	 	 	 	 	 	 
	1

	 	Definitions, interpretation and deed components
	 	 	4	 
	 

	 	1.1 Deed components
	 	 	4	 
	 

	 	1.2 Definitions
	 	 	4	 
	 

	 	1.3 Interpretation
	 	 	8	 
	 

	 	1.4 Inclusive expressions
	 	 	9	 
	 
	 	 	 	 	 	 
	2

	 	Recommendation
	 	 	9	 
	 
	 	 	 	 	 	 
	3

	 	Public announcements
	 	 	10	 
	 
	 	 	 	 	 	 
	4

	 	Facilitating the Offer
	 	 	10	 
	 

	 	4.1 Target’s Statement
	 	 	10	 
	 

	 	4.2 Promoting the Takeover Bid
	 	 	10	 
	 

	 	4.3 Bid Conditions
	 	 	10	 
	 
	 	 	 	 	 	 
	5

	 	Appointment of directors
	 	 	11	 
	 
	 	 	 	 	 	 
	6

	 	Reimbursement Fee
	 	 	11	 
	 

	 	6.1 Background to Reimbursement Fee
	 	 	11	 
	 

	 	6.2 Reimbursement Fee trigger
	 	 	11	 
	 

	 	6.3 Timing of payment of Reimbursement Fee
	 	 	12	 
	 

	 	6.4 Basis of Reimbursement Fee
	 	 	12	 
	 

	 	6.5 Compliance with law
	 	 	12	 
	 

	 	6.6 Reimbursement Fee payable only once
	 	 	12	 
	 

	 	6.7 Other Claims
	 	 	13	 
	 
	 	 	 	 	 	 
	7

	 	Exclusivity arrangements
	 	 	13	 
	 

	 	7.1 Prohibition
	 	 	13	 
	 

	 	7.2 Fiduciary exception to no talk and notification provisions
	 	 	13	 
	 

	 	7.3 Provision of information
	 	 	14	 
	 

	 	7.4 Notification of approaches
	 	 	14	 
	 

	 	7.5 Matching right
	 	 	14	 
	 

	 	7.6 Cease discussions
	 	 	15	 
	 
	 	 	 	 	 	 
	8

	 	Confidentiality
	 	 	15	 
	 

	 	8.1 Permitted disclosure
	 	 	15	 
	 

	 	8.2 Survival of obligations
	 	 	15	 
	 
	 	 	 	 	 	 
	9

	 	Warranties
	 	 	16	 
	 

	 	9.1 Macarthur Warranties
	 	 	16	 
	 

	 	9.2 PEAMCoal Warranties
	 	 	17	 
	 

	 	9.3 Reliance on representations and warranties
	 	 	18	 
	 

	 	9.4 Notification
	 	 	18	 
	 
	 	 	 	 	 	 
	10

	 	Termination
	 	 	18	 
	 

	 	10.1 Termination rights
	 	 	18	 

 Implementation deed            page 1

 

 

	 	 	 	 	 	 	 

	 

	 	10.2 Effect of termination
	 	 	18	 
	 

	 	10.3 Termination
	 	 	18	 
	 
	 	 	 	 	 	 
	11

	 	Duties, costs and expenses
	 	 	19	 
	 

	 	11.1 Duties
	 	 	19	 
	 

	 	11.2 Parties to bear own other costs
	 	 	19	 
	 
	 	 	 	 	 	 
	12

	 	GST
	 	 	19	 
	 

	 	12.1 Interpretation
	 	 	19	 
	 

	 	12.2 GST gross up
	 	 	19	 
	 

	 	12.3 Reimbursements and indemnifications
	 	 	19	 
	 

	 	12.4 Tax invoice
	 	 	20	 
	 
	 	 	 	 	 	 
	13

	 	General
	 	 	20	 
	 

	 	13.1 Notices
	 	 	20	 
	 

	 	13.2 Governing law and jurisdiction
	 	 	21	 
	 

	 	13.3 Service of process
	 	 	21	 
	 

	 	13.4 Waivers and variation
	 	 	22	 
	 

	 	13.5 Assignment
	 	 	22	 
	 

	 	13.6 Further assurances
	 	 	22	 
	 

	 	13.7 Approvals and consent
	 	 	22	 
	 

	 	13.8 Remedies cumulative
	 	 	22	 
	 

	 	13.9 Counterparts
	 	 	22	 
	 

	 	13.10 Prohibition and enforceability
	 	 	22	 
	 

	 	13.11 No merger
	 	 	23	 
	 

	 	13.12 Entire agreement
	 	 	23	 
	 

	 	13.13 Contra proferentem excluded
	 	 	23	 
	 

	 	13.14 Attorneys
	 	 	23	 

Implementation deed            page 2

 

 

The deed

Implementation deed

Date►   30 August 2011

Between the parties

	 	 	 

	PEAMCoal

	 	PEAMCoal Pty Ltd
	 
	 	 
	 

	 	ACN 152 004 772 of Level 13, BOQ Centre, 259
Queen Street, Brisbane Queensland 4000
	 
	 

	 	(PEAMCoal)
	 
	 	 
	Macarthur

	 	Macarthur Coal Limited
	 
	 	 
	 

	 	ACN 096 001 955 of 100 Melbourne Street, South
Brisbane Queensland 4101
	 
	 

	 	(Macarthur)
	 
	 	 
	Recitals

	 	1 PEAMCoal has made a takeover bid for
all the fully paid ordinary shares in Macarthur.
	 
	 

	 	2 The Directors are proposing to
recommend the takeover bid in the absence of a
Superior Proposal.
	 
	 

	 	3 The parties have agreed that the
takeover bid will be facilitated on the terms and
conditions set out in this deed.

This deed witnesses as follows:

Implementation deed            page 3

 

 

	1	 	Definitions, interpretation and deed components
	 
	1.1	 	Deed components
	 
	 	 	This deed includes any schedule.
	 
	1.2	 	Definitions
	 
	 	 	The meanings of the terms used in this deed are set out below, unless the context
otherwise appears or requires.

	 	 	 
	Term	 	Meaning
	Agreed Announcements

	 	1   an announcement proposed to be released to ASX by Macarthur
relating to the Takeover Bid in the form agreed in writing between the
parties; and

	 
	 

	 	2   an announcement proposed to be released to ASX by PEAMCoal
relating to the Takeover Bid in the form agreed in writing between the
parties.

	 
	 	 
	Arcelor

	 	ArcelorMittal S.A. of 19 avenue de la Liberté, L-2930 Luxembourg City,
Luxembourg.
	 
	 	 
	ASIC

	 	the Australian Securities and Investments Commission.
	 
	 	 
	ASX

	 	ASX Limited ABN 98 008 624 691 or the stock market operated by it, as
the context requires.
	 
	 	 
	Associate

	 	has the meaning given in Division 2 of Part 1.2 of the Corporations
Act as if section 12(1) of the Corporations Act included a reference
to this deed.
	 
	 	 
	Bid Conditions

	 	the conditions to the Takeover Bid included in section 11.7 of the
Bidder’s Statement.
	 
	 	 
	Bidder’s Statement

	 	the replacement bidder’s statement issued by PEAMCoal and dated 15
August 2011.
	 
	 	 
	Business Day

	 	a day on which banks are open for business in Brisbane, other than a
Saturday, Sunday or public holiday in Brisbane and ASX is open for trading.

Implementation deed            page 4

 

 

1       <Definitions, interpretation and deed components

	 	 	 
	Term	 	Meaning
	Claim

	 	any claim, demand, legal proceeding or cause of action including any
claim, demand, legal proceeding or cause of action:
	 
	 

	 	1 based in contract (including breach of any warranty);
	 
	 

	 	2 based in tort (including misrepresentation or negligence);
	 
	 

	 	3 under common law or equity; or
	 
	 

	 	4   under statute (including the Competition and Consumer Act
2010 (Cth), or like provisions in any state or territory legislation),

	 
	 

	 	
in any way relating to this deed or the transaction contemplated by it.
	 
	 	 
	Competing Proposal

	 	any proposal, agreement, arrangement or transaction, which, if entered
into or completed, would mean a Third Party (either alone or together
with any Associate) may:
	 
	 

	 	1   directly or indirectly acquire a Relevant Interest in, or
have the right to acquire, a legal, beneficial or economic interest
in, or control of, 10% or more of the Shares or of the share capital
of any Subsidiary of Macarthur;

	 
	 

	 	2   acquire Control of Macarthur or a Subsidiary of Macarthur;

	 
	 

	 	3   otherwise acquire (whether directly or indirectly) or become
the holder of, or otherwise acquire, have a right to acquire or have
an economic interest in all or a material part of Macarthur’s business
or assets or the business or assets of any Subsidiary of Macarthur;

	 
	 

	 	4   otherwise acquire (whether directly or indirectly) or merge
with Macarthur or a Subsidiary of Macarthur; or

	 
	 

	 	5   enter into any agreement, arrangement or understanding
requiring Macarthur or any of the Directors to change, withdraw or
modify the Directors’ recommendation of the Takeover Bid,

	 
	 

	 	
whether by way of takeover bid, scheme of arrangement, securityholder
approved acquisition, capital reduction or buy back, sale or purchase
of shares, securities or assets, global assignment of assets and
liabilities, incorporated or unincorporated joint venture, dual-listed
company (or other synthetic merger), or other transaction or
arrangement.
	 
	 	 
	Confidentiality 

Agreement

	 	the confidentiality agreement dated 14 July 2011 between Peabody,
Arcelor and Macarthur.
	 
	 	 
	Control

	 	has the meaning given in section 50AA of the Corporations Act.
	 
	 	 
	Corporations Act

	 	the Corporations Act 2001 (Cth).

Implementation deed            page 5

 

 

1       <Definitions, interpretation and deed components

	 	 	 
	Term	 	Meaning
	Director

	 	a director of Macarthur other than any director who is on leave of
absence.
	 
	 	 
	Duty

	 	any stamp, transaction or registration duty or similar charge imposed
by any Governmental Agency and includes any interest, fine, penalty,
charge or other amount imposed in respect of any of them, but excludes
any Tax.
	 
	 	 
	Encumbrance

	 	an interest or power:
	 
	 

	 	1   reserved in or over an interest in any asset, including any
retention of title; or

	 
	 

	 	2   created or otherwise arising in or over any interest in any
asset under a bill of sale, mortgage, charge, lien, pledge, trust or
power,

	 
	 

	 	by way of security for the payment of a debt, any other monetary
obligation or the performance of any other obligation, and includes,
any agreement to grant or create any of the above.
	 
	 	 
	Exclusivity Period

	 	the period from and including the date of this deed to the earlier of:
	 
	 

	 	1 the termination of this deed in accordance with its terms;
	 
	 

	 	2 the end of the Offer Period; or
	 
	 

	 	3 the date which is 6 months after the date of this deed.
	 
	 	 
	Governmental Agency

	 	any government or any governmental, semi governmental, statutory or
judicial entity, regulatory body, agency or authority, whether in
Australia, or elsewhere, including any self regulatory organisation
established under statute or otherwise discharging substantially
public or regulatory functions.
	 
	 	 
	GST

	 	goods and services tax or similar value added tax levied or imposed in
Australia under the GST Law or otherwise on a supply.
	 
	 	 
	GST Law

	 	the A New Tax System (Goods and Services Tax) Act 1999 (Cth).
	 
	 	 
	Macarthur Board

	 	the board of directors of Macarthur, other than any director who is on
leave of absence.
	 
	 	 
	Macarthur Group

	 	Macarthur and each of its Subsidiaries.
	 
	 	 
	Offer

	 	Each offer to acquire Shares dated 18 August 2011 and made pursuant to
the Takeover Bid, the terms of which are contained in the Bidder’s
Statement, as are proposed to be increased in accordance with the Agreed Announcements.

Implementation deed            page 6

 

 

1       <Definitions, interpretation and deed components

	 	 	 
	Term	 	Meaning
	Offer Period

	 	the period during which the Offer is open for acceptance.
	 
	 	 
	Peabody

	 	Peabody Energy Corporation of 701 Market Street, St Louis, Missouri,
United States of America.
	 
	 	 
	Public Authority

	 	any government or any governmental, semi-governmental, statutory or
judicial entity, agency or authority, whether in Australia, or
elsewhere, including any self-regulatory organisation established
under statute or otherwise discharging substantially public or
regulatory functions, and ASX or any other stock exchange.
	 
	 	 
	Reimbursement Fee

	 	the amount of $48,300,000 (exclusive of GST, if any).
	 
	 	 
	Related Body Corporate

	 	has the meaning given in section 50 of the Corporations Act.
	 
	 	 
	Related Person

	 	1  a Related Body Corporate of Macarthur;
	 
	 

	 	2  an adviser or consultant of Macarthur or an adviser or
consultant of a Related Body Corporate of Macarthur; or

	 
	 

	 	3  a director, officer or employee of Macarthur or any entity
referred to in paragraph 1 or 2 of this definition.

	 
	 	 
	Relevant Interest

	 	has the meaning given in sections 608 and 609 of the Corporations Act.
	 
	 	 
	Share

	 	a fully paid ordinary share in the capital of Macarthur.
	 
	 	 
	Shareholder

	 	a holder of Shares.
	 
	 	 
	Subsidiary

	 	has the meaning given in section 9 of the Corporations Act.
	 
	 	 
	Superior Proposal

	 	a bona fide Competing Proposal of the kind referred to in any of
paragraphs 2, 3 or 4 of the definition of Competing Proposal (and not
resulting from a breach by Macarthur of any of its obligations under
clause 7 (it being understood that any actions by the Related Persons
of Macarthur in breach of clause 7 shall be deemed to be a breach by
Macarthur for the purposes hereof)) which the Macarthur Board, acting
in good faith, and after receiving written legal advice from its legal
advisers and written advice from its financial advisers, determines:

Implementation deed            page 7

 

 

1       <Definitions, interpretation and deed components

	 	 	 
	Term	 	Meaning
	 

	 	1   is reasonably capable of being valued and completed taking
into account all aspects of the Competing Proposal, including any
timing considerations and any conditions precedent; and

	 
	 

	 	2   would, if completed substantially in accordance with its
terms, be more favourable to Shareholders (as a whole) than the
Takeover Bid (as such Takeover Bid has been amended or varied
following a previous application of the matching right set out in
clause 7.5), taking into account all terms and conditions of the
Competing Proposal.

	 
	 	 
	Takeover Bid

	 	the off-market takeover bid made by PEAMCoal for the Shares.
	 
	 	 
	Target’s Statement

	 	the target’s statement to be prepared by Macarthur in relation to the
Takeover Bid.
	 
	 	 
	Tax

	 	any tax, levy, charge, impost, fee, deduction, goods and services tax,
compulsory loan or withholding, that is assessed, levied, imposed or
collected by any Governmental Agency and includes any interest, fine,
penalty, charge, fee or any other amount imposed on, or in respect of
any of the above but excludes Duty.
	 
	 	 
	Third Party

	 	a party other than Macarthur, and any Subsidiary of Macarthur, Peabody
and PEAMCoal, and any Subsidiary of Peabody.
	 
	 	 
	Unacceptable 

Circumstances

	 	has the meaning set out in section 657A of the Corporations Act.

	 
	1.3	 	Interpretation
	 
	 	 	In this deed headings and words in bold are inserted for convenience and do not
affect the interpretation of this deed and unless the contrary intention appears:

	 	(a)	 	a reference to this deed or another instrument includes any variation or
replacement of any of them;
	 
	 	(b)	 	a reference to a statute, ordinance, code or other law includes regulations
and other instruments under it and consolidations, amendments, re-enactments or
replacements of any of them;
	 
	 	(c)	 	the singular includes the plural and vice versa;
	 
	 	(d)	 	the word ‘person’ includes a firm, a body corporate, an unincorporated
association or an authority;
	 
	 	(e)	 	a reference to a person includes a reference to the person’s executors,
administrators, successors, substitutes (including persons taking by novation) and
assigns;

Implementation deed            page 8

 

 

2       Recommendation

	 	(f)	 	if a period of time is specified and dates from a given day or the day of
an act or event, it is to be calculated exclusive of that day;
	 
	 	(g)	 	a reference to a day is to be interpreted as the period of time commencing
at midnight and ending 24 hours later;
	 
	 	(h)	 	if an act prescribed under this deed to be done by a party on or by a given
day is done after 5.00pm on that day, it is taken to be done on the next day;
	 
	 	(i)	 	if an event must occur on a stipulated day that is not a Business Day then
the stipulated day will be taken to be the next Business Day;
	 
	 	(j)	 	a reference to time is a reference to Brisbane time;
	 
	 	(k)	 	a reference to any thing (including any amount) is a reference to the whole
and each part of it and a reference to a group of persons is a reference to any one
or more of them;
	 
	 	(l)	 	a reference to a part, clause, party, attachment, exhibit or schedule is a
reference to a part and clause of, and a party, attachment, exhibit and schedule to,
this deed and a reference to this deed includes any attachment, exhibit and schedule;
	 
	 	(m)	 	a reference to A$ or $ is to Australian currency unless denominated
otherwise; and
	 
	 	(n)	 	a term defined in the Corporations Act shall have the same meaning in this
deed.

	1.4	 	Inclusive expressions
	 
	 	 	Specifying anything in this deed after the words ‘including’, ‘includes’ or ‘for
example’ or similar expressions does not limit what else is included unless there is
express wording to the contrary.

	2	 	Recommendation

	 	(a)	 	Macarthur represents and warrants that the Macarthur Board has met and considered
the Offer and all of the Directors have informed Macarthur that they will:

	 	(1)	 	unanimously recommend that Shareholders accept the
Offer; and
	 
	 	(2)	 	accept, or procure the acceptance of, the Offer, in
respect of any Shares that they, or their Associates, own or control or
otherwise have a Relevant Interest in,

	 	 	 	in each case, in the absence of a Superior Proposal.
	 
	 	(b)	 	Macarthur must use its best endeavours to procure that all of the Directors
publicly state in all public announcements in relation to the Offer, including in
Macarthur’s Agreed Announcement and in the Target’s Statement, that:

	 	(1)	 	they unanimously recommend that Shareholders accept the
Offer; and

 Implementation deed            page 9

 

 

			
	
	 	3 Public announcements

	 	(2)	 	they will accept or procure the acceptance of the Offer, in respect of
any Shares that they, or their Associates, own or control or otherwise have
a Relevant Interest in,

	 	 	 	in each case, in the absence of a Superior Proposal.

	 	(c)	 	Subject to clause 7, Macarthur must use its best endeavours to procure that
the Macarthur Board collectively does not, and that the Directors individually do
not, change, withdraw or modify his or her recommendation unless the Macarthur Board
has obtained written legal advice from its external legal advisers and determined
that not to change, withdraw or modify his or her recommendation would reasonably be
likely to involve a breach of the statutory or fiduciary duties owed by any Director
or would otherwise be unlawful.

3 Public announcements

	 	 	 	As soon as reasonably practicable after both parties have executed this deed,
PEAMCoal and Macarthur must each release to ASX its Agreed Announcement.

4 Facilitating the Offer

4.1 Target’s Statement

	 	(a)	 	Macarthur will give PEAMCoal a reasonable opportunity to review an advanced draft
of the Target’s Statement before Macarthur lodges the Target’s Statement with ASIC,
and will consult in good faith with PEAMCoal in relation to any comments PEAMCoal may
have on the Target’s Statement.
	 
	 	(b)	 	PEAMCoal agrees to support any application by Macarthur to ASIC for an
extension of the time under items 11, 12, 13 and 14 of subsection 633(1) of the
Corporations Act for sending a copy of the Target’s Statement to PEAMCoal, ASX and
Shareholders and lodging a copy with ASIC, in each case from 2 September 2011 to 9
September 2011.
	 
	 	(c)	 	PEAMCoal agrees that it will extend its Offer Period by at least one week,
or any further reasonable period required by ASIC in granting the extension referred
to in clause 4.1(b).

4.2 Promoting the Takeover Bid

	 	 	 	During the Offer Period, in the absence of a Superior Proposal, Macarthur must use
its best endeavours to procure that the Directors will support the Takeover Bid.

	4.3	 	Bid Conditions

	 	(a)	 	A party must promptly notify the other party if it becomes aware that any Bid
Condition has been fulfilled or breached. If any event occurs or becomes apparent
which would or would reasonably be likely to cause any of the Bid Conditions to be
breached or cause fulfilment of any of them to be materially delayed, the relevant
party must, to the extent that it is actually aware of such information, notify the
other party of that event as soon as reasonably practicable.

			
	 	 	 
	 
	 	Implementation deed       page 10

 

 

			
	
	 	5 Appointment of directors

	 	(b)	 	A reference in this clause 4.3 to a Bid Condition being breached includes a
reference to the Bid Condition not being, or not being capable of being, fulfilled.
	 
	 	(c)	 	PEAMCoal acknowledges and agrees that it will not rely on any Bid Condition
in respect of any information fairly disclosed in writing by Macarthur to Peabody or
Arcelor before the execution of this deed.
	 
	 	(d)	 	PEAMCoal acknowledges and agrees that it will not rely on the Bid Condition
in section 11.7(f) (No material adverse change) of the Bidder’s Statement merely as a
result of a change in coal prices.

5 Appointment of directors

	 	 	 	As soon as practicable after PEAMCoal acquires a Relevant Interest in 50.01% of the
Shares and the Offer becomes unconditional, Macarthur will use reasonable endeavours to
procure the appointment of such persons as directors of Macarthur as are nominated by
PEAMCoal in writing so as to ensure that PEAMCoal’s nominees comprise a majority of the
directors of Macarthur.

6 Reimbursement Fee

6.1 Background to Reimbursement Fee

	 	(a)	 	PEAMCoal and Macarthur acknowledge that, if they enter into this deed and the
Takeover Bid (the consideration under which is proposed to be increased in accordance
with the Agreed Announcements) is subsequently not implemented, PEAMCoal, Peabody,
Arcelor and certain of the respective Subsidiaries of Peabody and Arcelor will incur
significant costs.
	 
	 	(b)	 	In these circumstances, PEAMCoal has requested that provision be made for
the payments outlined in clause 6.2, without which PEAMCoal would not have entered
into this deed or otherwise agreed to increase the consideration payable under the
Takeover Bid.

6.2 Reimbursement Fee trigger

	 	 	 	Macarthur must pay the Reimbursement Fee to PEAMCoal, without set-off or withholding:

	 	(a)	 	if a Competing Proposal of any kind is announced during the Exclusivity
Period (whether or not such proposal is stated to be subject to any pre-conditions)
and, within one year of the date of such announcement, the Third Party or any
Associate of that Third Party:

	 	(1)	 	completes a Competing Proposal of a kind referred to in
any of paragraphs 2 to 5 of the definition of Competing Proposal; or
	 
	 	(2)	 	without limiting clause 6.2(a)(1), acquires (either
alone or in aggregate) a Relevant Interest in more than 50% of the Shares
or acquires (either alone or in aggregate) Control of Macarthur; or

	 	(b)	 	where a Bid Condition, or an aspect of a Bid Condition, is within
Macarthur’s control and Macarthur fails to use reasonable endeavours to prevent the
breach of that Bid Condition or to prevent that Bid Condition becoming incapable of
being fulfilled, in either case due to an act or omission of Macarthur, a Related

			
	 	 	 
	 
	 	Implementation deed       page 11

 

 

			
	
	 	6 Reimbursement Fee

	 	 	 	Body Corporate of Macarthur or a director of Macarthur or a director of any Related
Body Corporate of Macarthur provided that:

	 	(1)	 	in any such case PEAMCoal publicly announces that it
will, as a result of such act or omission, allow the Takeover Bid to lapse
without freeing the Offer from the relevant Bid Condition; and
	 
	 	(2)	 	no Reimbursement Fee will be payable if any of the
conditions in sections 11.7(a), (b), (c) or (d) of the Bidder’s Statement
are breached or become incapable of being fulfilled.

6.3 Timing of payment of Reimbursement Fee

	 	(a)	 	A demand by PEAMCoal for payment of the Reimbursement Fee under clause 6.2 must
be in writing and state the circumstances which give rise to demand.
	 
	 	(b)	 	Macarthur must pay the Reimbursement Fee to PEAMCoal, without set-off or
withholding, within 2 Business Days of receipt by PEAMCoal of a demand for payment
where PEAMCoal is entitled under clause 6.2 to the Reimbursement Fee.

6.4 Basis of Reimbursement Fee

	 	 	 	The Reimbursement Fee has been calculated to reimburse PEAMCoal, Peabody, Arcelor and
certain of the respective Subsidiaries of Peabody and Arcelor for costs, including the
following:

	 	(a)	 	fees for legal, financial and other professional advice in planning and
implementing the Takeover Bid;
	 
	 	(b)	 	reasonable opportunity costs incurred in engaging in the Takeover Bid or in
not engaging in other alternative acquisitions or strategic initiatives;
	 
	 	(c)	 	costs of management and directors’ time in planning and implementing the
Takeover Bid; and
	 
	 	(d)	 	out of pocket expenses incurred in planning and implementing the Takeover
Bid.

6.5 Compliance with law

	 	 	 	This clause 6 does not impose an obligation on Macarthur to pay the Reimbursement Fee
to the extent (and only to the extent) that the obligation to pay the Reimbursement Fee:

	 	(a)	 	is declared by the Takeovers Panel to constitute Unacceptable
Circumstances; or
	 
	 	(b)	 	is determined to be unenforceable as determined by a court.

6.6 Reimbursement Fee payable only once

	 	 	 	Where the Reimbursement Fee becomes payable to PEAMCoal under clause 6.2 and is
actually paid to PEAMCoal, PEAMCoal cannot make any Claim against Macarthur for payment of
any subsequent Reimbursement Fee.

			
	 	 	 
	 
	 	Implementation deed       page 12

 

 

			
	
	 	7 Exclusivity arrangements

6.7 Other Claims

	 	 	 	Where an amount becomes payable to PEAMCoal under clause 6.2 and is actually paid to
PEAMCoal (or is payable, but no demand is made under clause 6.3), PEAMCoal cannot make any
Claim (other than a Claim under this clause 6) against Macarthur which relates to the
event that gave rise to the right to make a demand under clause 6.3.

7 Exclusivity arrangements

7.1 Prohibition

	 	 	 	During the Exclusivity Period, Macarthur must not, and must ensure that each of its
Related Persons does not, directly or indirectly:

	 	(a)	 	(no shop) solicit, invite, encourage or initiate (including by the
provision of non-public information) any inquiry, expression of interest, offer,
proposal or discussion by any person in relation to, or which would reasonably be
expected to encourage or lead to the making of, an actual, proposed or potential
Competing Proposal or communicate to any person an intention to do anything referred
to in this clause 7.1(a); or
	 
	 	(b)	 	(no talk) subject to clause 7.2:

	 	(1)	 	participate in or continue any negotiations or
discussions with respect to any inquiry, expression of interest, offer,
proposal or discussion by any person to make or which would reasonably be
expected to encourage or lead to the making of an actual, proposed or
potential Competing Proposal or participate in or continue any negotiations
or discussions with respect to any actual, proposed or potential Competing
Proposal;
	 
	 	(2)	 	negotiate, accept or enter into, or offer or agree to
negotiate, accept or enter into, any agreement, arrangement or
understanding regarding an actual, proposed or potential Competing
Proposal;
	 
	 	(3)	 	disclose or otherwise provide any material non-public
information about the business or affairs of Macarthur or its Subsidiaries
to any person (other than a Public Authority) with a view to obtaining or
which would reasonably be expected to encourage or lead to receipt of an
actual, proposed or potential Competing Proposal; or
	 
	 	(4)	 	communicate to any person an intention to do anything
referred to in this clause 7.1(b).

7.2 Fiduciary exception to no talk and notification provisions

	 	 	 	Clause 7.1(b) does not prohibit any action or inaction by Macarthur or any of its
Related Persons in relation to an actual, proposed or potential Competing Proposal if
compliance with that clause would, in the opinion of the Macarthur Board, formed in good
faith after receiving written advice from its external legal advisers, constitute, or
would reasonably be likely to involve, a breach of any of the fiduciary or statutory
duties of the Directors, provided that the actual, proposed or potential Competing
Proposal was not directly or indirectly brought about by, or facilitated by, a breach of
clause 7.1(a).

			
	 	 	 
	 
	 	Implementation deed      page 13

 

 

			
	
	 	7 Exclusivity arrangements

7.3 Provision of information

	 	 	 	During the Exclusivity Period, Macarthur must as soon as possible provide PEAMCoal
with:

	 	(a)	 	in the case of written materials, a copy of; and
	 
	 	(b)	 	in any other case, a written statement of,

	 	 	 	any material non-public information about the business or affairs of Macarthur or its
Subsidiaries disclosed or otherwise provided after the date of this deed to any person in
connection with an actual, proposed or potential Competing Proposal, which has not
previously been provided to PEAMCoal.

7.4 Notification of approaches

	 	(a)	 	During the Exclusivity Period, Macarthur must as soon as possible notify PEAMCoal
in writing if it, or any of its Related Persons, becomes aware of any direct or
indirect:

	 	(1)	 	approach or attempt to initiate any negotiations or
discussions, or intention to make such an approach or attempt to initiate
any negotiations or discussions in respect of any expression of interest,
offer, proposal or discussion in relation to an actual, proposed or
potential Competing Proposal;
	 
	 	(2)	 	proposal made to Macarthur or any of its Related
Persons, in connection with, or in respect of any exploration or completion
of, an actual, proposed or potential Competing Proposal; or
	 
	 	(3)	 	provision by Macarthur or any of its Related Persons of
any material confidential information concerning Macarthur’s or its
Subsidiaries’ operations to any person in relation to an actual, proposed
or potential Competing Proposal.

	 	(b)	 	A notification given under clause 7.4(a) must include the identity of the
relevant person making or proposing the relevant actual, proposed or potential
Competing Proposal, together with all material terms and conditions of the actual,
proposed or potential Competing Proposal.

7.5 Matching right

	 	 	 	Without limiting clause 7.1, during the Exclusivity Period, Macarthur:

	 	(a)	 	must not enter into any legally binding agreement, arrangement or
understanding (whether or not in writing) pursuant to which a Third Party and/or
Macarthur proposes to undertake or give effect to an actual, proposed or potential
Competing Proposal; and
	 
	 	(b)	 	must use its best endeavours to procure that none of its Directors change
their recommendation in favour of the Takeover Bid to publicly recommend an actual,
proposed or potential Competing Proposal,

			
	 	 	 
	 
	 	Implementation deed      page 14

 

 

			
	
	 	8 Confidentiality

	 	 	 	unless:

	 	(c)	 	the Macarthur Board acting in good faith determines that the actual,
proposed or potential Competing Proposal would be or would be likely to be a Superior
Proposal;
	 
	 	(d)	 	Macarthur has provided PEAMCoal with the material terms and conditions of
the actual, proposed or potential Competing Proposal, including price and the
identity of the Third Party making the actual, proposed or potential Competing
Proposal; and
	 
	 	(e)	 	Macarthur has given PEAMCoal at least 2 Business Days after the provision
of the information referred to in clause 7.5(d) to provide a matching or superior
proposal to the terms of the actual, proposed or potential Competing Proposal.

7.6 Cease discussions

	 	 	 	Macarthur must, and must ensure that each of its Related Persons, cease any
discussions or negotiations existing as at the date of this deed and revoke any due
diligence and/or data room access existing as at the date of this deed, each relating to:

	 	(a)	 	any actual, proposed or potential Competing Proposal; or
	 
	 	(b)	 	any transaction that would, or would reasonably expected to, reduce the
likelihood of success of the Takeover Bid.

8 Confidentiality

8.1 Permitted disclosure

	 	(a)	 	Macarthur acknowledges and agrees that, except as provided for in clauses 8.1(c)
and 8.1(d), it continues to be bound by the Confidentiality Agreement.
	 
	 	(b)	 	PEAMCoal acknowledges and agrees that, except as provided for in
clauses 8.1(c) and 8.1(d), it is bound by the Confidentiality Agreement as if it were
a party to it and had the rights and obligations of the Joint Bidders (as defined in
the Confidentiality Agreement) under it.
	 
	 	(c)	 	Each party agrees that either party may release a full copy of this deed to
ASX and that a full copy of this deed may be filed with the U.S. Securities and
Exchange Commission.
	 
	 	(d)	 	Each party releases the other party from any confidentiality obligations
that it owes to the other to the extent that each party is required by law to
disclose the applicable confidential information pursuant to the implementation of
the Takeover Bid.

8.2 Survival of obligations

	 	 	 	The rights and obligations of the parties under the Confidentiality Agreement survive
termination of this agreement.

			
	 	 	 
	 
	 	Implementation deed      page 15

 

 

			
	
	 	9 Warranties

9 Warranties

9.1 Macarthur Warranties

	 	(a)	 	Macarthur represents and warrants that as at the date of this deed and on each
day up to and including the last day of the Offer Period:

	 	(1)	 	(incorporation) it is validly incorporated, organised
and subsisting under the laws of the place of its incorporation;
	 
	 	(2)	 	(power and capacity) it has full power and capacity to:

	 	(A)	 	own its property and carry on its
business; and
	 
	 	(B)	 	enter into and perform its
obligations under this deed;

	 	(3)	 	(due execution) this deed has been duly executed and is
a legal, valid and binding agreement, enforceable against it in accordance
with its terms;
	 
	 	(4)	 	(authorisations) all necessary authorisations for the
execution, delivery and performance by it of this deed in accordance with
its terms have been obtained;
	 
	 	(5)	 	(no contractual restrictions) it is not bound by any
agreement that would prevent or restrict it from entering into and
performing its obligations under this deed; and
	 
	 	(6)	 	(no insolvency) no resolutions have been passed or
steps taken, and no petition or other process has been presented or
threatened in writing against it, for winding-up or dissolution, and no
receiver, receiver and manager, liquidator, administrator or like official
has been appointed, or is threatened or expected to be appointed, over the
whole or any part of its assets other than the winding up application in
relation to MCG Coal Holdings Pty Ltd.

	 	(b)	 	In addition to the warranties set out in clause 9.1(a), Macarthur
represents and warrants that, as at the date of this deed:

	 	(1)	 	(bid conditions) it is not aware of any event or
circumstance that would result in one or more of the Bid Conditions being
breached or becoming incapable of fulfilment (other than as fairly
disclosed in writing by Macarthur to Peabody or Arcelor before the
execution of this deed); and
	 
	 	(2)	 	(joint ventures): no joint venture agreement,
shareholders’ agreement or any other material agreement, deed, arrangement
or instrument to which Macarthur or any of its Subsidiaries is a party
relating to any mine project including the Middlemount and Monto Coal mine
projects (each a Specified Agreement), contains a change of control
provision or any other provision which could be triggered as a result of
the implementation of the Takeover Bid and which could result in:

	 	(A)	 	any Specified Agreement being
terminated or modified or any action being taken or arising
thereunder (including the

			
	 	 	 
	 
	 	Implementation deed      page 16

 

 

			
	
	 	9 Warranties

	 	 	 	acceleration of the performance of any
obligations thereunder);
	 
	 	(B)	 	the interest of Macarthur or any of
its Subsidiaries in the relevant mine project or any related
incorporated or unincorporated joint venture or entity (or any
arrangements relating to such interest) being terminated,
modified or being required to be disposed of; or
	 
	 	(C)	 	an obligation on Macarthur or any
of its Subsidiaries to buy out the interest in the relevant mine
project of any party to any Specified Agreement.

9.2 PEAMCoal Warranties

	 	(a)	 	PEAMCoal represents and warrants that as at the date of this deed and on each day
up to and including the last day of the Offer Period:

	 	(1)	 	(incorporation) it is validly incorporated, organised
and subsisting under the laws of the place of its incorporation;
	 
	 	(2)	 	(power and capacity) it has full power and capacity to:

	 	(A)	 	own its property and carry on its
business; and
	 
	 	(B)	 	enter into and perform its
obligations under this deed;

	 	(3)	 	(due execution) this deed has been duly executed and is
a legal, valid and binding agreement, enforceable against it in accordance
with its terms;
	 
	 	(4)	 	(authorisations) all necessary authorisations for the
execution, delivery and performance by it of this deed in accordance with
its terms have been obtained;
	 
	 	(5)	 	(no contractual restrictions) it is not bound by any
agreement that would prevent or restrict it from entering into and
performing its obligations under this deed; and
	 
	 	(6)	 	(no insolvency) no resolutions have been passed or
steps taken, and no petition or other process has been presented or
threatened in writing against it, for winding-up or dissolution, and no
receiver, receiver and manager, liquidator, administrator or like official
has been appointed, or is threatened or expected to be appointed, over the
whole or any part of its assets.

	 	(b)	 	In addition to the warranties set out in clause 9.2(a) PEAMCoal represents
and warrants that, as at the date of this deed it is not aware of any event or
circumstance that would result in one or more of the Bid Conditions being breached or
becoming incapable of fulfilment (other than as fairly disclosed in writing by
Macarthur to Peabody or Arcelor before the execution of this deed).

			
	 	 	 
	 
	 	Implementation deed      page 17

 

 

			
	
	 	10 Termination

9.3 Reliance on representations and warranties

	 	(a)	 	Each party acknowledges that no party (nor any person acting on its behalf) has
made any representation or other inducement to it to enter into this deed, except for
representations or inducements expressly set out in this deed.
	 
	 	(b)	 	Each party acknowledges and confirms that it does not enter into this deed
in reliance on any representation or other inducement by or on behalf of any other
party, except for any representation or inducement expressly set out in this deed.
	 
	 	(c)	 	Each party acknowledges and confirms that clauses 9.3(a) and 9.3(b) do not
prejudice any rights a party may have in relation to information which has been filed
by the other party with ASIC and ASX.

9.4 Notification

	 	 	 	Each party will promptly advise the other in writing if it becomes aware of any fact,
matter or circumstance that constitutes or may constitute a breach of any of the
representations and warranties given by it under this clause 9.

10 Termination

10.1 Termination rights

	 	 	 	A party may terminate this deed by written notice to the other party only if PEAMCoal
withdraws the Takeover Bid or the Takeover Bid lapses or does not proceed for any reason,
including non-fulfilment of a Bid Condition which non-fulfilment is not waived by
PEAMCoal.

10.2 Effect of termination

	 	 	 	If this deed is terminated by a party:

	 	(a)	 	each party will be released from its obligations under this deed, except
that clauses 1, 6, 8, 9, 10, 11, 12 and 13 shall survive termination;
	 
	 	(b)	 	each party will retain the rights it has or may have against the other
party in respect of any past breach of this deed; and
	 
	 	(c)	 	in all other respects, all future obligations of the parties under this
deed will immediately terminate and be of no further force or effect, including any
further obligations in respect of the Takeover Bid.

10.3 Termination

	 	 	 	Where a party has a right to terminate this deed, that right for all purposes will be
validly exercised if the party delivers a notice in writing to the other party stating
that it terminates this deed and the provision under which it is terminating the deed.

			
	 	 	 
	 
	 	Implementation deed      page 18

 

 

			
	
	 	11 Duties, costs and expenses

11 Duties, costs and expenses

11.1 Duties

	 	 	 	PEAMCoal must pay all Duty in respect of the execution, delivery and performance of
this deed.

11.2 Parties to bear own other costs

	 	(a)	 	Except as set out in clause 11.1 and unless otherwise provided for in this deed,
each party must pay its own costs and expenses in respect of the negotiation,
preparation, execution, delivery and registration of this deed and any other
agreement or document entered into or signed under this deed or in connection with
the Offer.
	 
	 	(b)	 	Any action to be taken by any party in performing its obligations under
this deed must be taken at its own cost and expense unless otherwise provided in this
deed.

12 GST

12.1 Interpretation

	 	 	 	In this clause 12, a word or expression defined in the GST Law has the meaning given
to it in the GST Law.

	12.2	 	GST gross up

	 	(a)	 	Subject to clause 12.2(b), if a party makes a supply under or in connection with
this deed in respect of which GST is payable, the consideration for the supply but
for the application of this clause 12.2 (GST exclusive consideration) is increased by
an amount equal to the GST exclusive consideration multiplied by the rate of GST
prevailing at the time the supply is made.
	 
	 	(b)	 	Clause 12.2(a) does not apply to any consideration that is expressed in
this deed to be inclusive of GST.
	 
	 	(c)	 	Any consideration or payments that are not expressed to be inclusive of GST
are exclusive of GST.

12.3 Reimbursements and indemnifications

	 	 	 	If a party must reimburse or indemnify the other party for a loss, cost or expense, the
amount to be reimbursed or indemnified is first reduced by any input tax credit the other
party is entitled to for the loss, cost or expense, and then increased in accordance with
clause 12.2.

			
	 	 	 
	 
	 	Implementation deed      page 19

 

 

			
	
	 	13 General

	12.4	 	Tax invoice
	 
	 	 	A party need not make a payment for a taxable supply made under or in connection with
this deed until it receives a tax invoice for the supply to which the payment relates.
	 
	13	 	General

13.1 Notices

	 	(a)	 	Any notice or other communication (including any request, demand, consent or
approval) to or by a party to this deed must be in legible writing and in English
addressed as shown below (or as specified to the sender by any party by notice):

	 	 	 	 	 	 	 
	Party	 	Address	 	Attention	 	Facsimile
	 
	PEAMCoal

	 	Level 13, BOQ
Centre,
 259 Queen
Street,
 Brisbane
Queensland
 4000
	 	The Company Secretary 

with a copy to Freehills:

Attention:
Tony / Damian
Andrew
 Rich 

Address:
 Level 32, MLC
Centre
 19 Martin Place

Sydney NSW 2000

Australia 

Fax:
 +61 2 9322 4000 

and a copy to Mallesons

Stephen Jaques:

Attention: 
 David
Friedlander / 
 Greg
Golding 

Address: 
 Level 61,
Governor 
 Phillip Tower
1
Farrer Place
Sydney NSW
2000 
 Australia

Fax: 
 +61 2 9296 3999

	 	+61 7 3225 5555
	Macarthur

	 	100 Melbourne
Street,
 South
Brisbane
 Queensland
4101,
 Australia
	 	Lisa Dalton, Company

Secretary 

with a copy to Corrs

Chambers Westgarth:

Attention:
 Teresa
Handicott /
 Jeremy
Horwood 

Address:
 Level 35,
Waterfront 
 Place 
 1 Eagle
Street 
 Brisbane QLD 4000 

Australia 

Fax: +61 7 3228 9444 

	 	+61 7 3229 1776

Implementation deed            page 20

 

 

			
	
	 	13 General

	 	 	 	If the sender is a company, the notice or communication must be signed by
an officer or under the common seal of the sender.
	 
	 	(b)	 	A notice or communication given in accordance with clause 13.1(a) can be
relied on by the addressee and the addressee is not liable to any other person for
any consequences of that reliance if the addressee believes it to be genuine, correct
and authorised by the sender.
	 
	 	(c)	 	Any notice or other communication to or by a party to this deed is regarded
as being given by the sender and received by the addressee:

	 	(1)	 	if by delivery in person, when delivered to the
addressee;
	 
	 	(2)	 	if by post within Australia, 2 Business Days from and
including the date of postage;
	 
	 	(3)	 	if by post to or from a place outside Australia, 5
Business Days from and including the date of postage; or
	 
	 	(4)	 	if by facsimile transmission, when a facsimile
confirmation receipt is received indicating successful delivery,

	 	 	 	but if the delivery or receipt is on a day that is not a Business Day or is
after 5.00pm (addressee’s time) it is regarded as received at 9.00am on the
following Business Day.
	 
	 	(d)	 	A facsimile transmission is regarded as legible unless the addressee
telephones the sender within 2 hours after the transmission is received or regarded
as received under clause 13.1(c) and informs the sender that it is not legible.
	 
	 	(e)	 	In this clause 13.1, reference to an addressee includes a reference to an
addressee’s officers, agents or employees.

13.2 Governing law and jurisdiction

	 	(a)	 	This deed is governed by the laws of Queensland.
	 
	 	(b)	 	Each party irrevocably submits to the non-exclusive jurisdiction of the
courts of Queensland.

13.3 Service of process

	 	 	Without preventing any other mode of service, any document in an action (including
any writ of summons or other originating process or any third or other party notice) may
be

Implementation deed            page 21

 

 

			
	
	 	13 General

	 	 	served on any party by being delivered to or left for that party at its address for
service of notices under clause 13.1.

13.4 Waivers and variation

	 	(a)	 	A provision of, or a right, discretion or authority created under, this deed may
not be:

	 	(1)	 	waived except in writing signed by the party granting
the waiver; and
	 
	 	(2)	 	varied except in writing signed by the parties,

	 	 	 	except to the extent this deed expressly provides otherwise.
	 
	 	(b)	 	A failure or delay in exercise, or partial exercise, of a power, right,
authority, discretion or remedy arising from a breach of, or default under this deed
does not result in a waiver of that right, power, authority, discretion or remedy.

	13.5	 	Assignment
	 
	 	 	A party may not assign its rights or delegate its obligations under this deed without
the written consent of each other party.
	 
	13.6	 	Further assurances
	 
	 	 	Subject to clause 8, each party must do all things and execute all further documents
reasonably necessary to give full effect to this deed and the transactions contemplated by
it.
	 
	13.7	 	Approvals and consent
	 
	 	 	If the doing of any act, matter or thing under this deed is dependent on the approval
or consent of a party, that party may give conditionally or unconditionally or withhold
its approval or consent in its absolute discretion, unless this deed expressly provides
otherwise.
	 
	13.8	 	Remedies cumulative
	 
	 	 	Except as provided in this deed and permitted by law, the rights, powers and remedies
provided in this deed are cumulative with and not exclusive to the rights, powers or
remedies provided by law independently of this deed.
	 
	13.9	 	Counterparts
	 
	 	 	This deed may be executed in any number of counterparts which together will
constitute one instrument. A party may execute this deed by signing any counterpart.
	 
	13.10	 	Prohibition and enforceability
	 
	 	 	Any provision of, or the application of any provision of, in this deed that is void,
illegal or unenforceable in any jurisdiction is to be read down for the purpose of that
jurisdiction, if possible, so as to be valid and enforceable, and otherwise shall be
severed to the extent of the invalidity, illegality or unenforceability, without affecting
the remaining provisions of

Implementation deed            page 22

 

 

			
	
	 	13 General

	 	 	this deed or affecting the validity or enforceability of that
provision in any other jurisdiction.
	 
	13.11	 	No merger
	 
	 	 	The rights and obligations of the parties under this deed do not merge on completion
of any transaction contemplated by this deed.
	 
	13.12	 	Entire agreement
	 
	 	 	This deed embodies the entire agreement between the parties and supersedes any prior
negotiation, conduct, arrangement, understanding or agreement, express or implied, with
respect to the subject matter of this deed other than the Confidentiality Agreement.
	 
	13.13	 	Contra proferentem excluded
	 
	 	 	No term or condition of this deed will be construed adversely to a party solely on
the ground that the party was responsible for the preparation of this deed or that
provision.
	 
	13.14	 	Attorneys
	 
	 	 	Each of the attorneys executing this deed states that the attorney has no notice of
the revocation of the power of attorney appointing that attorney.

Implementation deed            page 23

 

 

	 	 	 	Executed as a deed

	 	 	 	 	 

	 

	 	Signed, sealed and delivered by 

PEAMCoal Pty Ltd

by 
	 	 
	 
	 	 	 	 
	sign here ►

	 	/s/ Richard A. Navarre
 

	 	 
	 

	 	Director	 	 
	 
	 	 	 	 
	print name

	 	Richard A. Navarre
 

	 	 
	 
	 	 	 	 
	sign here ►

	 	/s/ Eric Ford
 

	 	 
	 

	 	Director	 	 
	 
	 	 	 	 
	print name

	 	Eric Ford
 

	 	 

	 	 	 	 	 

	 

	 	Signed, sealed and delivered by 

Macarthur Coal Limited 

by 
	 	 
	 
	 	 	 	 
	sign here ► 

	 	/s/ Lisa Jane Dalton
 

	 	 
	 

	 	Company Secretary	 	 
	 
	 	 	 	 
	print name

	 	Lisa Jane Dalton
 

	 	 
	 
	 	 	 	 
	sign here ►
 

	 	/s/ Nicole Maree Hollows
 

	 	 
	 

	 	Director	 	 
	 
	 	 	 	 
	print name

	 	Nicole Maree Hollows
 

	 	 

Implementation deed            page 24

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00194-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00194-of-00352.parquet"}]]