Document:

Exhibit 10.7

 

 

31 August 2018

 

PRIVATE AND CONFIDENTIAL

 

Ayten Saridas

**

 

Dear Ayten,

 

As you are aware, the Coronado group is currently in the process of listing on the Australian Securities Exchange.

 

In preparation of this listing, we ask that you agree to some amendments to your employment contract, which we consider to be appropriate given your role as part of an ASX-listed company. You will see that we have enclosed a mark-up of your employment contract so that you can see the changes from your previous contract.

 

We look forward to continuing to work with you to ensure the success of our operations.

 

To accept this employment offer please return a signed and dated copy of this Letter of Offer and associated documents to Emma Pollard ** by 7 September 2018. Should you have any queries concerning this offer, please do not hesitate to contact Emma.

 

Yours sincerely

 

	
/s/ Garold R. Spindler
    	
 
    	
 
    
	
Garold R Spindler
    

Coronado Group Chief Executive Officer

 

I have read, understand and agree to all the terms and conditions that apply to my employment with the Company as outlined in this offer and related documents, including the contract of employment.  I confirm that the fixed annual remuneration which I receive under the contract of employment, satisfies any obligations on the Company to pay to me any entitlements to which I may otherwise be entitled under an industrial instrument or law.

 

By signing this agreement, I accept the undertaking in the Clause — Compliance with Company Policies & Procedures of the attached Contract of Employment and agree to the earnings set out in the Clause — Fixed Annual Remuneration.

 

	
Signed: 
    	
/s/ Ayten Saridas
    	
 
    	
Date: 
    	
31/8/18
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
Ayten Saridas
    	
 
    	
 
    

 

Contract of Employment

	
Curragh Queensland Mining Pty Ltd

 

ABN 55 095 450 418
    	
 
    	
Private Mail Bag
    	
 
    	
**
    
	
 
    	
 
    	
Blackwater QLD 4717
    	
 
    	
**
    

 

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The following terms and conditions will apply to your continued employment with Curragh Queensland Mining Pty Ltd (Company) in the role of Chief Financial Officer (CFO) from the date both parties sign this agreement:

 

1.                                     Commencement and Operation of Employment

 

The Company acknowledges that your employment commenced on 18 June 2018.  Your position is a permanent full time position which currently reports to the Coronado Group Chief Executive Officer (Leader).

 

2.                                     Location of Employment

 

Your position will be based in Brisbane, but you will need to work as required by the Company at other locations to perform the inherent requirements of your position. The Company may require you to travel within the state, interstate or overseas to perform your duties.

 

In recognition of your relocation from NSW to Brisbane to take up the role of CFO, you continue to be eligible to receive the benefits outlined in Appendix 1, in accordance with that Appendix.

 

You may be required to transfer to other positions and locations with the Company or the Group, subject to appropriate consultation and notice.

 

3.                                     Duties

 

During your employment you must:

 

(a)                                during your working hours, devote your whole time, attention and ability to the business of the Company;

 

(b)                                serve the Company diligently, honestly and faithfully;

 

(c)                                 exercise and carry out all duties required of you within your skills and competence and follow all lawful directions and instructions;

 

(d)                                follow all lawful and reasonable directions and instructions given to you by the Company;

 

(e)                                 not, without the written consent of the Company, engage in any other employment or in other activity (whether paid or unpaid) which may conflict with your duties as an employee of the Company or may adversely affect the reputation of the Company.  You must advise the Company immediately if this occurs or may occur;

 

(f)                                  use your best efforts to promote the interests and welfare of the Company; and

 

(g)                                 as required by the Company, perform work for any other member or members of the Group.

 

The Company may vary your duties and responsibilities from time to time or assign you additional duties and responsibilities as may be directed by the Company or your Leader.  In particular, you may be required to perform any duties in any area of the operation, subject to your competence and any safety and statutory requirements.  You may also be required to train and become competent in new skills as required by the Company.

 

4.                                     Hours of Work

 

You must work the hours which are reasonably necessary to fulfil the requirements of the position or as required by the Company.  Your remuneration includes compensation for all hours that may be worked (and when they are worked) during the course of your employment.  Your remuneration is in full satisfaction of any entitlement you may have under any law or any industrial instrument or agreement including overtime, loadings, allowances or penalties.

 

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Your Leader will advise of indicative start and finish times to accommodate regular work requirements and teams working in your location or elsewhere in the Company’s operations.

 

Your hours of work may be averaged over a period of up to six months.

 

5.                                     Fixed Annual Remuneration

 

Your remuneration comprises a fixed annual remuneration (FAR) which will be AU$670,000.  Your FAR is made up of the following components:

 

(a)                                 Cash salary:

 

Your cash salary will be the amount remaining after deducting from your FAR the amounts for Company superannuation contribution, and any other pre-tax deductions nominated by you.  Your cash salary, net of tax and authorised deductions, will be paid on a monthly basis by electronic funds transfer into bank account/s nominated by you.

 

(b)                                 Superannuation:

 

Your FAR includes the compulsory superannuation guarantee contributions paid by the Company for your benefit. The Company will make compulsory superannuation guarantee contributions, on your behalf, up to the quarterly maximum contribution required under the Superannuation Guarantee (Administration) Act 1992 (Cth). Superannuation guarantee contributions are included as part of your FAR. For the 2018/19 financial year, the maximum contribution required to avoid the superannuation guarantee charge is the lesser of 9.5% of your ordinary time earnings or $5132.85 per quarter.  This amount may be varied from time to time by the Australian Taxation Office.

 

Superannuation will be contributed to the default Mercer Superannuation Plan or any other complying superannuation fund selected by you.

 

Compulsory superannuation guarantee contributions will be processed by the Company as 9.5% of your ordinary time earnings each pay period of the quarter until the maximum required contribution for the quarter is reached. Where 9.5% of your ordinary time earnings for a quarter is less than the maximum contribution required, then compulsory superannuation guarantee contributions will be 9.5% of your ordinary time earnings for that quarter.

 

You may choose to make additional voluntary contributions to your chosen fund from either your pre-tax or after-tax FAR.

 

Please note that in any financial year, the total value of your pre-tax and post-tax contributions should not exceed the annual limits as determined under the relevant tax legislation.  The Human Resources Department will be able to advise what the limit applicable to you is at any time. There may be tax consequences should your superannuation contributions exceed your annual limit. We suggest that you discuss these consequences with your financial or tax advisor. If you reach your limit, further contributions in that financial year will attract an additional tax on top of the normal superannuation tax

 

If you do not choose a fund, contributions payable on your behalf will be directed to the default super fund.  A Choice of Fund form can be returned after this date and future contributions made to your nominated fund accordingly but you may be liable for excess fees and charges by having membership in more than one fund.  Should you complete the relevant paperwork after your commencement date, Mercer will contact you regarding your existing account and provide you with the appropriate paperwork to consolidate your superannuation into your new fund.

 

By accepting this offer and contract of employment, you are consenting to the provision of your personal information, including any health information, between the Company and the superannuation fund and their service providers.  This information is necessary

 

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to facilitate the provision of benefits in the course of your employment and for the management of the fund.

 

If you require further information or assistance on superannuation please contact the Human Resources Department.

 

(c)                                  Parking Benefit

 

Due to the seniority of this position, you will be entitled to a company paid car park space within the office building as a benefit in addition to your FAR. The Company reserves the right to review your eligibility to paid parking from time to time. This benefit is not redeemable for cash or transferable for any other benefit arrangement.

 

Your FAR will be subject to review each year in line with your annual salary review.

 

Your FAR is in full recognition of the requirements of the role.  Your FAR includes compensation for all entitlements, benefits or payments that, you may be otherwise entitled to, including under any applicable industrial instrument.  Accordingly, you will not be paid any special rates or allowances for working particular times or under particular conditions unless otherwise agreed in writing.

 

6.                                     Incentive arrangements

 

You may be eligible to participate in incentive arrangements offered by the Company or Group from time to time. Details of these arrangements will be provided to you separately, and do not form a part of your employment agreement.

 

7.                                     Annual Leave

 

In accordance with the applicable legislation and Company policy, you will be entitled to 4 weeks annual leave per annum.  You are required to apply for annual leave at least 4 weeks prior to your first day of intended leave, or such shorter period as may be agreed with your Leader.  Annual leave approved by your Leader and taken during employment will be paid based on your FAR.

 

Annual leave is to be taken within 12 months of accruing.  If you do not take the leave within this period, the Company may direct you to do so upon giving you one month’s notice.

 

You and the Company may agree in writing for you to cash out an amount of paid annual leave provided that the agreement does not result in your remaining accrued entitlement to paid annual leave being less than 4 weeks.  Each agreement must be a separate agreement in writing.  Annual leave which is cashed out and foregone will be paid based on your FAR and your accrued annual leave entitlement will be reduced accordingly.

 

On termination of employment, you will be paid for any untaken leave based on your FAR.

 

8.                                     Long Service Leave

 

You are entitled to long service leave in accordance with applicable legislation and Company policy as advised to you and amended from time to time.

 

9.                                     Personal/Carer’s Leave

 

You are entitled to 10 days paid personal/carer’s leave per year of service with the Company in accordance with applicable legislation and Company policy.  You may take personal/carer’s leave if:

 

(a)                                 you are unable to attend work due to personal injury or illness; or

 

(b)                                 you need to provide care and support for members of your immediate family or members of your household in the event of genuine injury or illness or unexpected emergency affecting the family member.

 

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You should notify your Manager as soon as practicable of the need to take personal/carer’s leave and the period, or expected period, of the leave.  You are required to provide a medical certificate or other evidence as reasonably required by the Company for leave equal to or in excess of two days.  A medical certificate or statutory declaration may also be required to establish the illness of the person concerned or the unexpected emergency.  The entitlement to carer’s leave is subject to you being responsible for, and the only person available to provide care for the person concerned.

 

Approved personal/carer’s leave will be paid based on your FAR.  There is no payment for unused personal/carer’s leave upon termination for any reason.

 

Where you have a requirement for carer’s leave and you do not have any accrued personal/carer’s leave, you are entitled to up to 2 days unpaid leave on each occasion.

 

Requests for longer periods of paid or unpaid carer’s leave or any other arrangements for the provision of carer’s leave will be considered on a case by case basis.

 

10.                              Parental Leave

 

You are entitled to receive parental leave in accordance with the applicable legislation and Company policy as advised to you and amended from time to time.

 

11.                              Compassionate Leave

 

You are entitled to up to two days paid leave (in addition to the balance of the day on which you are notified) in the event that a member of your immediate family or your household, contracts or develops a personal illness or sustains a personal injury, that poses a serious threat to their life, or in the event of their death.  The entitlement to compassionate leave is in accordance with the applicable legislation and Company policy as advised to you and amended from time to time.

 

For the purposes of this clause, immediate family is your spouse or de facto spouse, and you or your spouse’s, child/step-child, parent/step-parent, grandparent, grandchild or siblings. You are required to let your Manager know as soon as possible when you realise you will be unable to attend work.

 

A medical certificate or statutory declaration may be required to establish that the leave is taken for a permissible reason.

 

Payment for approved compassionate leave will be based on your FAR.

 

12.                              Jury Service Leave

 

You are entitled to jury service leave in accordance with the applicable legislation and Company policy as advised to you and amended from time to time.

 

13.                              Public Holidays

 

Public Holidays will be those recognised in the applicable legislation, or other agreed replacement days.  Although you are not normally required to work public holidays, you may be requested to do so, from time to time to meet the operational requirements of the Company, consideration for which is included in your FAR.

 

14.                              Medical Assessments

 

In order for the Company to satisfy its duty of care and safety obligations, it may require you to undertake a medical assessment by a doctor or other health professional(s) nominated by the Company, including regular medicals or health checks that may be organised by the Company and random drug and alcohol testing (at the Company’s expense).

 

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You consent to the doctor or health professional releasing the results of that assessment to the Company.  The Company will keep the medical information provided to it under this clause confidential and you agree that the medical information which is collected may be used by the Company to manage your employment, including determining whether you are capable of safely performing the duties of your position.

 

The above requirement is separate to, and in addition to, any requirement for a health or medical assessment under applicable legislation.

 

15.                              Guarantee of annual earnings

 

Your salary includes compensation for all entitlements, benefits or payments that might otherwise be due under any industrial instrument that may apply to your employment including but not limited to:

 

·                                           overtime;

 

·                                           penalty payments for out of hours work and working weekends and public holidays;

 

·                                           shift loadings; and

 

·                                           any other loadings, penalties, overtime or allowances.

 

Accordingly, you will not be paid any special rates or allowances for working particular times or under particular conditions unless otherwise agreed in writing.

 

For the purpose of section 330 the Fair Work Act 2009 (Cth), the Company undertakes that it will pay you your FAR as set out in the Clause — Fixed Annual Remuneration for a period of at least 12 months. This undertaking constitutes a guarantee of annual earnings for the purposes of the Fair Work Act 2009 (Cth).  As a result, to the extent they would otherwise apply, the terms of the Black Coal Mining Industry Award 2010 will not apply to your employment for the period during which the guarantee of annual earnings applies as your annual earnings will exceed the high income threshold for the purposes of the Fair Work Act 2009 (Cth).

 

This undertaking will continue until the earlier of the following:

 

·                                           your employment with the Company ends;

 

·                                           you accept a new undertaking from the Company; or

 

·                                           you and the Company agree to revoke this undertaking.

 

This undertaking does not affect the rights of either you or the Company to end the employment relationship in accordance with the termination provisions set out in this agreement.

 

By accepting this offer and contract of employment, you agree to the guarantee of annual earnings given by the Company.

 

16.                              Compliance with Company Policies & Procedures

 

During your employment you are required to comply with the Company’s policies and procedures as varied from time to time.

 

It is your obligation to take reasonable steps to familiarise yourself with current policies and procedures that are relevant to your employment and to comply at all times with such policies and procedures.  The Company’s policies and procedures operate independently of this contract and are not incorporated into this contract and are not binding on the Company.

 

The Company reserves the right to amend, revoke or replace its policies and procedures at its discretion, in accordance with what the Company considers to be its business needs.  The

 

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Company will notify you of any changes to policies and procedures which impose a requirement on you as an employee.

 

17.                              Occupational Health & Safety

 

You must comply with all occupational health and safety systems that are relevant to your work.  You must attend to your work safely, take all reasonable care and notify your Leader if you become aware of any workplace risks.  You must not create a potential safety risk to yourself or others in the course of your employment, including (but not limited to) by the excessive consumption of alcohol or the use of illicit drugs.

 

18.                              Privacy

 

You consent to the Company collecting, storing, using and disclosing your personal and health information for any lawful purpose relating to your employment.  You also consent to the Company transferring your personal and health information outside Queensland and Australia in the course of its business activities.

 

You also consent to the Company disclosing your personal and health information to other persons for any lawful purpose relating to your employment.  These persons include the Australian Tax Office, superannuation fund trustees and administrators, contractors, bankers, insurers, medical, rehabilitation or occupational practitioners, laboratory analysts, investigators, financial and legal advisers, potential purchasers on sale of business, law enforcement bodies and regulatory authorities.

 

19.                              Confidentiality

 

During your employment with the Company you will have access to or may become acquainted with information belonging to or in the possession of the Group relating to its operations and the affairs of the Group including, but not limited to, information about the Group’s products, processes, assets, plans, strategies, and information received from third parties under an obligation of confidence (Confidential Information).

 

You must not use or disclose Confidential Information, except

 

(a)                                 for the purpose of and to the extent necessary to properly perform your duties; or

 

(b)                                 where disclosure of specific Confidential Information is required to comply with any applicable law; or

 

(c)                                  the use or disclosure of the Confidential Information is agreed by the Company.

 

You agree that upon termination of your employment for any reason you will return to the Company all of the Confidential Information that you have in your possession.

 

Your obligation not to use or disclose confidential information in accordance with the terms of this clause continues after your employment ends.

 

20.                              Intellectual property

 

For the purpose of this clause:

 

Work means any invention, discovery, design, improvement, formula, process, technique, literary or artistic work, or any other item in which Intellectual Property Rights subsist or are capable of subsisting and is wholly or partly created, made or discovered by you either:

 

(a)                                  during your employment; or

 

(b)                                otherwise using the facilities, resources, time, Confidential Information or any other opportunity provided by the Company, or the Group.

 

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Intellectual Property Rights means all existing and future rights, which may be protected by copyright, patent, design, trademark or other registration or other forms of protection in Australia or elsewhere.

 

Moral Rights includes the right to be identified as the author of the work, the right not to have any other person identified as the author of the work and the right not to have the work subjected to any derogatory treatment.

 

The Work and all Intellectual Property Rights in the Work will belong absolutely to the relevant company or companies within the Group and you agree to do all things necessary and execute any document required to give effect to this ownership.

 

You must immediately and fully disclose to the Company any Work created, made or discovered by you.

 

You consent to the use of all existing and future Works made by you in the course of your employment, and agree to waive any Moral Rights you may have in them, in favour of the Company or the relevant company or companies within the Group.

 

You also agree that this consent and waiver extends to any licensees and successors in title to the relevant company within the Group in respect of such Works, as well as to any persons who are authorised by the Group or by its licensees and successors in title to do acts comprising the copyright of such Works.

 

You agree to execute any further document necessary to give effect to this.  If you do not comply with such a request by the Company within 7 days, you authorise the Company (or any persons authorised by the Company) to do all things and execute all documents necessary to give effect to that request on your behalf.

 

For the avoidance of doubt, your obligations under this clause continue after your employment ends.

 

21.                              Termination of Employment

 

Either party may terminate your employment by giving the other party three months’ written notice.

 

In the event that the Company terminates your employment for any reason other than the reasons set forth under clause 21 subparagraphs (a), (b) and (c), the Company will pay a termination payment equivalent to six months FAR.

 

The Company may make a payment in lieu of notice for all or the balance of the notice period.  In the event that you end your employment without giving the specified period of notice, you agree to pay the Company an amount equal to your total remuneration for the balance of the notice period not serviced.  You agree that this amount is a genuine pre-estimate of the loss the Company is likely to suffer as a result of the failure to give the specified period of notice.

 

The period of notice prescribed above applies throughout your employment with the Company, unless a new period is agreed in writing.  If notice of termination is given to you, the Company is not obliged to provide any work to you during the notice period.

 

The Company may terminate your employment immediately without notice or payment in lieu of notice if you:

 

(a)                                engage in any serious or wilful misconduct including by committing any wilful, serious or persistent breach of your terms and conditions of employment or any Company policy or by serious neglect in the performance of your duties;

 

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(b)                                engage in any other conduct (either inside or outside of the workplace) which in the reasonable opinion of the Company is likely to affect adversely the reputation of the Company or the Group and/or your ability to effectively perform your duties; or

 

(c)                                 are unwilling or unable, wholly or partially, to properly and effectively perform your duties.

 

If your employment is terminated for any of the above reasons, the Company will pay you up to the day of termination only.

 

22.                              Directorships

 

The Company may require you to become a director of the Company or any of its Related Bodies Corporate without any additional remuneration and the benefits under this Agreement are in part consideration of you agreeing to become a director.

 

On termination of your employment:

 

(a)                                  you must resign all directorships held as a consequence of the employment, as directed by the Company; and

 

(b)                                  you irrevocably appoint the Company Secretary of the Company as your agent to execute any documents on your behalf.

 

You agree to resign as a director if the Chairperson or the Company requires you to do so.

 

23.                              Company Property

 

Upon the cessation of your employment you will return to the Company or an authorised officer of the Company:

 

(a)                                all originals and copies in any form (including but not limited to computer data) of all books, records and documents relating to your duties, functions and responsibilities as an employee of the Company or its business affairs (including customer lists and details); and

 

(b)                                all other things belonging to the Company (including but not limited to keys, security cards and passes, corporate credit cards, mobile phones, copies of documents and computerised information) which you have in your possession or which has otherwise been provided to you in the course of your employment with the Company.

 

24.                              Set Off

 

Immediately on your employment ending or at any other time requested by the Company, you:

 

(a)                                agree to pay to the Company all amounts you owe to it (for example, amounts such as personal expenses incurred on a Company mobile telephone, or amounts owing for Company funded study assistance) or any amounts mistakenly paid to you such as an overpayment;

 

(b)                                authorise and direct the Company to withhold unpaid amounts from monies otherwise owed to you during employment or upon termination of employment; and

 

(c)                                 acknowledge that if you fail to repay any monies owing to the Company, including any amounts paid to you by mistake, the Company may demand and enforce the recovery of such monies as a debt immediately due and payable by you to the Company.

 

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25.                              Post-employment restrictions

 

‘Competitive Business’ means any business that competes with the Group during the period of 6 months preceding the End Date or during the Restricted Period.

 

‘End Date’ means the date on which your employment with the Company ends.

 

‘Entity’ means an individual, company, partnership, joint venture (whether corporate or incorporate) or any other body (whether corporate or incorporate).

 

‘Prescribed Position’ means:

 

1                                         a position as employee, director, secretary, company officer, agent, contractor, consultant or adviser of any Entity;

 

2                                         a partner, shareholder or member of any Entity; and

 

3                                         acting as any of the persons referred to in items 1 and 2 of this definition.

 

‘Restricted Area’ means:

 

1                                         Any country where the Group has operations, including at the date of this agreement the United States of America and Australia; or failing that

 

2                                         The United States of America and Australia; or failing that

 

3                                         Australia; or failing that

 

4                                         Queensland and New South Wales; or failing that

 

5                                         Queensland.

 

‘Restricted Period’ means:

 

1                                         the period of 12 months starting on the End Date; or failing that

 

2                                         the period of 6 months starting on the End Date; or failing that

 

3                                         the period of 3 months starting on the End Date; or failing that

 

4                                         the period of 1 months starting on the End Date.

 

Inducing directors, employees or contractors to leave the Group

 

You must not, during the Restricted Period and in the Restricted Area, directly or indirectly induce or attempt to induce any director, employee or contractor of the Group, with whom you had work related dealings during the 12 months preceding the End Date, or of whom you have, or have had, Confidential Information about in respect of their engagement with the Group, to terminate his or her engagement with the entity within the Group which engages them, whether or not that person would commit a breach of that person’s contract of engagement.

 

Persuading the Group’s customers or suppliers to cease or reduce business

 

You must not, during the Restricted Period and in the Restricted Area, directly or indirectly solicit or persuade any customer or supplier of the Group with whom you had work related dealings during the 12 months preceding the End Date, or of whom you have, or have had, Confidential Information about, to cease doing business with the Group, or reduce the amount of business which the person would normally do, or otherwise have done, with the Group.

 

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Competing with the Group

 

You agree that you will not (whether directly or indirectly and in any position including a Prescribed Position), during the Restricted Period and in the Restricted Area, carry on, be employed by, or engaged in or otherwise interested in any Competitive Business:

 

(a)                                for purposes of providing services which are the same as or similar to those you provided to the Group at any time within the 12 months prior to the End Date; or

 

(b)                                to use Confidential Information to gain an advantage for a Competitive Business or cause detriment to the Group.

 

Priority of restrictions

 

You agree that you intend the restrictions in this clause 25 to operate to their maximum extent. However, should a Court consider it necessary to reduce the extent of a restriction, the parties intend that any reduction should be made to the Restricted Area before any reductions are made to the Restricted Period.

 

Consent

 

The restrictions in this clause do not apply in circumstances where you have obtained the Company’s prior written consent.

 

Restrictions reasonable and inclusive

 

You agree that:

 

(a)                                 you will obtain Confidential Information during your employment, the disclosure of which could materially harm the Group;

 

(b)                                 the restrictions in this clause are reasonable and necessary for the protection of the Group’s Confidential Information and goodwill;

 

(c)                                  you intend the restrictions to operate to the maximum extent;

 

(d)                                 damages may be inadequate to protect the Group’s interests and the Group is entitled to seek and obtain injunctive relief, or any other remedy, in any court; and

 

(e)                                  the restrictions are separate, distinct and several, so that the unenforceability of any restriction does not affect the enforceability of the other restrictions.

 

(f)                                   consideration for these restraints is included in your remuneration.

 

Modification of restrictions

 

If the restrictions in this clause:

 

(g)                                  are void as unreasonable for the protection of the Group’s interests; and

 

(h)                                 would be valid if part of the wording was deleted or the period or area was reduced,

 

the restrictions will apply with the modifications necessary to make them effective.

 

Your obligations under this clause 25 survive the ending of your employment.

 

26.          Retrenchment Benefits

 

In addition to the above notice period, if your position is made redundant by the Company you will be entitled to receive retrenchment benefits in accordance with applicable legislation.

 

27.          Relationship to Other Instruments

 

If an industrial instrument applies to your employment:

 

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(a)                                your FAR and other benefits provided under this contract compensate you for all work performed, including but not limited to any overtime, loadings, penalty rates, allowances and any other entitlement which may be due to you under the industrial instrument;

 

(b)                                your FAR and other benefits provided under this contract satisfy the Company’s obligations to make payments to which you may otherwise be entitled to under the industrial instrument or law; and

 

(c)                                 any entitlement under the industrial instrument will be calculated by reference to the applicable rate of pay in the industrial instrument.

 

You agree that if necessary, the Company may retrospectively offset the amount of your salary and other benefits provided under this contract, in excess of any entitlements which may otherwise apply under an industrial instrument or law, to satisfy the Company’s obligations under the industrial instrument or law.

 

28.          Reference and background checks

 

This offer of employment with the Company is made to you on the understanding that the information you provided to us during the recruitment process is accurate and complete. However, to ensure the integrity of the recruitment process, the Company requires all new employees to undergo reference and background checking. Accordingly, you acknowledge and accept that:

 

·                                         this agreement is conditional upon the satisfactory completion of the reference and background checks set out below. If the Company is not satisfied with the results of any of the following checks, it may withdraw this offer of employment made to you;

 

·                                         the Company may carry out the following checks on you to determine your suitability for the position:

 

·                                         reference check with previous employers;

 

·                                         academic qualification check; and/or

 

·                                         Federal Police criminal record check.

 

29.          General

 

(a)        This contract and the letter of offer constitute the entire agreement relating to your employment and supersede all prior offers, written or oral, with respect to your employment by the Company.  These terms may only be modified by an agreement in writing signed by both parties.

 

(b)        Any notice to be given under these terms and conditions must be given in writing and may be given either personally or by registered mail.  Any notice you are required to provide must be handed to your Leader or mailed addressed to the Company at the address set out on the first page of this letter.  If the Company is required to provide you with notice, it will be either handed to you or addressed to you at your last known place of residence.

 

(c)         In this contract, a reference to:

 

(i)                                    legislation is to that legislation as amended, re-enacted or replaced, and includes any subordinate legislation issued under it;

 

(ii)                                 a policy or other document is to that policy or document as amended, supplemented, replaced or novated;

 

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(iii)                              the “Group” is to the Company and each of its Related Bodies Corporate (as defined by the Corporations Act 2001 (Cth)) and includes a reference to any member of the Group.

 

(d)        Any provision of this contract which is unenforceable or partly unenforceable is, where possible, to be severed to the extent necessary to make this contract enforceable, unless this would materially change the intended effect of this contract.

 

(e)          These terms and conditions and your employment referred to in this contract will be governed by the laws of Queensland.

 

30.      Acceptance of Contract

 

By signing this contract, you are acknowledging that:

 

(a)                                 you have had sufficient time to review its contents;

 

(b)                                 you have been given an opportunity to obtain advice concerning its contents and effect; and

 

(c)                                  you have read and understand the contents of this contract and the letter of offer and your obligations.

 

	
Signed: 
    	
/s/ Ayten Saridas
    	
 
    	
Date: 
    	
31/8/18
    
	
 
    	
 
    	
 
    
	
 
    	
Ayten Saridas
    	
 
    

 

Page 13 of 15

 

www.curragh.com.au

 

 

 

Appendix 1 — Relocation Terms

 

The Coronado Curragh Workforce Planning — Relocation, Transfer and Secondment Policy will apply.  Without limiting the content of this policy, please find below a summary of your entitlements.

 

New Starter

 

Where offered as a term of hire, new employees may be relocated by the Company.  At the discretion of the recruiting line manager, new employees may be offered: a pre-relocation visit, removal costs, travel arrangements, and temporary rental accommodation, the express terms of the employees Letter of Offer, and or the Curragh Relocation Guideline.

 

The company may also provide a hire car for up to one week pending the relocation of the new employee’s personal vehicle.

 

Pre-Relocation Visit

 

At the discretion of the line CEO, the employee and their partner may be entitled to a pre-relocation visit to the new location.  The Company will provide economy class airfares and accommodation to a maximum of three days.

 

Removal Costs

 

·                 The Company will meet reasonable (as determined by the Company) removal costs including packing, removal, insurance and delivery of personal and household effects from the employee’s residence at the time of recruitment/transfer to their new residence or place of storage; and delivery of personal and household effects from storage to the employee’s new residence.

 

·                 Expensive items requiring special care (eg pianos, art works etc) are at the employees’ cost and accountability.

 

·                 The Company will provide relocation of up to two vehicles (cars or motorbikes).

 

·                 The Company will provide relocation of one pet.

 

·                 The Company will not provide assistance for the relocation of boats, caravans and trailers.  This is the employee’s responsibility.

 

·                 The employee is required to obtain two (2) quotations from reputable removalists, car carriers or other required contractors, and submit to Human Resources to ensure that the volume and cost of household effects are reasonable.

 

·                 Following approval, it is the employee’s responsibility to make arrangements with the suppliers, and forward invoices to Human Resources for payment.

 

Storage of Goods

 

Reasonable storage of goods is available for a maximum period of six months.

 

Travel Arrangements

 

Air Travel

 

·                  Economy class airfares for the employee and dependants from the place of recruitment/transfer to the nearest capital or major regional city.  Flights must be via the most direct route utilising a standard commercial air service.

 

·                  The Company will provide a hire car where it is the most cost effective method of transport from the airport to the work location.

 

Page 14 of 15

 

www.curragh.com.au

 

 

 

Vehicle

 

The Company will provide a hire car for up to one week pending the relocation of the employee’s personal vehicle.

 

Temporary Accommodation

 

If the employee is unable to occupy private accommodation upon arrival at the new location, the Company will provide up to four weeks accommodation in a fully furnished self-serviced apartment for all employees covered by this policy.  The temporary accommodation period commences from the date of arrival and is subject to the employee sourcing suitable permanent accommodation in the new location.

 

Termination of Employment

 

If the employee leaves the Company within 12 months of commencement of the relocated position, the Company retains the right to recover all or part of all relocation costs covered by the Company.  Where an employee resigns, there will be no repatriation to point of origin.

 

Page 15 of 15

 

www.curragh.com.auExhibit 10.8

 

EMPLOYMENT AGREEMENT

 

THIS EMPLOYMENT AGREEMENT (“Agreement”), made as of 21 Sep 2018, effective on 21 September, 2018, between CORONADO GLOBAL RESOURCES INC. (the “Company”), a Delaware corporation and James I. Campbell (“Employee”), presently residing in or near Frankford West Virginia.

 

WITNESSETH:

 

WHEREAS, Employee is presently employed as President and Chief Operating Officer of the Company or its affiliate, in which capacity he has contributed materially to the Company’s success;

 

WHEREAS, the Company wishes to ensure the continued availability of Employee’s services and of reasonable protection against Employee’s competing against the Company, and Employee is willing to give such assurance in return for certain protections as set forth in this Agreement; and

 

NOW, THEREFORE, intending to be legally bound hereby, the Company hereby agrees on behalf of itself or a subsidiary to employ Employee, and Employee hereby agrees to be employed by the Company or a subsidiary of the Company, upon the following terms and conditions:

 

1.                                      Duties and Responsibilities.

 

Employee shall hold the position of President and Chief Operating Officer and shall render such services and perform such duties commensurate with his position as may be reasonably assigned to him from time to time by the Company.  Excluding any periods of vacation and sick leave to which Employee is entitled, Employee 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 Employee hereunder, to use Employee’s reasonable best efforts to perform faithfully and efficiently such responsibilities.

 

2.                                      Compensation.

 

Employee’s base salary effective as of the effective date set forth above shall be $650,000 per year, which shall be reviewed from time to time and may be increased by the Company in the best interests of the Company and in accordance with Employee’s then current responsibilities, paid in accordance with the Company’s regular payroll practices and on regularly scheduled payroll dates.  In addition, Employee shall be entitled to participate in all short term incentive, long term incentive, welfare, savings and retirement and other employee benefit plans, practices, policies, and programs applicable generally to other executive officers of the Company.

 

3.                                      Term; Termination of Employment.

 

(a)                           Subject to the terms and provisions of this Agreement, Employee’s employment hereunder shall commence as of 21 September, 2018 and shall continue until December 31, 2019 (the “Expiration Date”).  Notwithstanding the forgoing to the contrary, each year the Expiration Date shall be automatically extended to December 31 of the following year unless either party gives written notice to the other party, on or before September 30 of the year in which the Expiration Date is scheduled to occur, of its intention not to extend the Expiration Date.

 

 

(b)                           The employment of Employee hereunder may be terminated by the Company with or without Cause (as defined below) or by Employee with our without Good Reason (as defined below).  Employee’s employment shall terminate automatically if Employee dies.  If the Company determines in good faith that the Disability (as defined below) of Employee has occurred, it may give to Employee written notice of its intention to terminate Employee’s employment.  In such event, Employee’s employment with the Company shall terminate effective on the 30th day after receipt of such notice by Employee, provided that, within the 30 days after such receipt, Employee shall not have returned to full-time performance of Employee’s duties.

 

(c)                            “Cause” shall mean by reason of Employee’s: (I) conviction of, or plea of nolo contendere to, any felony or to any crime or offense causing substantial harm to the Company or its Affiliates or involving acts of theft, fraud, embezzlement, moral turpitude, or similar conduct, (II) repeated intoxication by alcohol or drugs during the performance of such holder’s duties in a manner that materially and adversely affects the holder’s performance of such duties, (III) malfeasance, in the conduct of such holder’s duties, that consists of (1) willful and intentional misuse or diversion of funds of the Company or its Affiliates, (2) embezzlement, or (3) fraudulent or willful and material misrepresentations or concealments on any written reports submitted to the Company or its Affiliates, or (IV) material failure to perform the duties of Employee’s employment or material failure to follow or comply with the reasonable and lawful written directives of the board of directors or the board of managers or other governing body a subsidiary or affiliate of the Company by which such holder is employed, in either case after the holder shall have been informed, in writing, of such material failure and given a period of not more than thirty (30) days to fully remedy same.

 

(d)                           “Disability” shall mean Employee’s incapacity due to physical or mental illness that (i) shall have prevented Employee from performing his or her duties for the Company or any of its subsidiaries or affiliates on a full-time basis for more than 180 days or (ii) (x) the board of directors determines is likely to prevent Employee from performing such duties for such a 180 period and (y) 30 days has elapsed since delivery to Employee of the determination of the board and Employee has not resumed such performance (in which case the date of termination in the case of a termination for “Disability” pursuant to this clause (ii) shall be deemed to be the last day of such 30-day period).

 

(e)                            “Good Reason” shall mean, without Employee’s express written consent, the occurrence of any one or more of the following:  (u) a material diminution of Employee’s authorities, duties, responsibilities, and status (including offices, titles, and reporting requirements) as an employee of the Company (any such diminution occurring as a result of the Company’s ceasing to be a publicly traded entity shall be deemed material for purposes of the foregoing); (v) the Company’s requiring Employee to be based at a location in excess of thirty-five miles from the location of Employee’s principal job location or office immediately prior to such change; (w) a reduction in Employee’s base salary or any material reduction by the Company of Employee’s other compensation or benefits; (x) the failure of the Company to obtain a satisfactory agreement from any successor to the Company to assume and agree to perform the Company’s obligations under this Agreement; (y) any purported termination by the Company of Employee’s employment that is not effected pursuant to a notice of termination in writing which shall indicate the specific termination provision in this Agreement relied upon, and shall set forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of Employee’s employment under the provision so indicated, and for purposes of this Agreement, no such purported termination shall be effective; and (z) a material breach of this Agreement by the Company.

 

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4.                                      Compensation Upon Termination of Employment.

 

(a)                           Termination by the Company for Cause or Resignation by Employee Without Good Reason.  If Employee’s employment is terminated by the Company for Cause or by Employee without Good Reason, the Company shall provide the following (referred to in this Agreement as the “Accrued Obligations”) to the Employee (i) Employee’s base salary, vacation and other cash entitlements accrued through the date of termination shall be paid to Employee in a lump sum of cash on the first regularly scheduled payroll date that is at least ten (10) days from the date of termination to the extent theretofore unpaid, (ii) the amount of any compensation previously deferred by Employee shall be paid to Employee in accordance with the terms of the applicable deferred compensation plan to the extent theretofore unpaid and (iii) amounts that are vested benefits or that Employee is otherwise entitled to receive under any plan, policy, practice or program of or any other contract or agreement with the Company at or subsequent to the date of termination, payable in accordance with such plan, policy, practice or program or contract or agreement, and the Company shall have no other severance obligations with respect to Employee under this Agreement except as provided in Section 4(d) following.

 

(b)                           Termination by the Company Without Cause or Resignation by the Employee for Good Reason.  If Employee’s employment is terminated by the Company without Cause or If Employee resigns for Good Reason, the Company shall provide the following to Employee (i) the Accrued Obligations, payable as provided in Section 4(a) hereof and (ii) a period of twelve (12) months (“Severance Period”) base salary based upon the salary Employee earned at the time of his termination, which is payable in a lump sum on the date which is the first day following the six (6) month anniversary of the date of termination, and the Company shall have no other severance obligations with respect to Employee under this.

 

(c)                            Death or Disability.  If Employee’s employment is terminated by reason of Employee’s death or Disability, the Company shall provide the Accrued Obligations to Employee, or in the event of Employee’s death, to his estate or beneficiaries, and the Company shall have no other severance obligations with respect to Employee under this Agreement except as provided in Section 4(d) following.

 

5.                                      Confidential Information, etc.

 

(a)                           Employee recognizes and acknowledges that: (i) in the course of Employee’s employment by the Company it will be necessary for Employee to acquire information which could include, in whole or in part, information concerning the Company’s sales, sales volume, sales methods, sales proposals, customers and prospective customers, identity of customers and prospective customers, identity of key purchasing personnel in the employ of customers and prospective customers, amount or kind of customers’ purchases from the Company, the Company’s sources of supply, computer programs, system documentation, special hardware, product hardware, related software development, manuals, formulae, processes, methods, machines, compositions, ideas, improvements, inventions or other confidential or proprietary information belonging to the Company or relating to the Company’s affairs (collectively referred to herein as the “Confidential Information”); (ii) the Confidential Information is the property of the Company; (iii) the use, misappropriation or disclosure of the Confidential Information would constitute a breach of trust and could cause irreparable injury to the Company; and (iv) it is essential to the protection of the Company’s good will and to the maintenance of the Company’s competitive position that the Confidential Information be kept secret and that Employee not disclose the Confidential Information to others or use the Confidential Information to Employee’s own advantage or the advantage of others.  For purposes of this Agreement Confidential Information shall not include information known by Employee before his employment with the Company or information that becomes publicly available through some means other than disclosure by Employee in violation of this agreement.

 

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(b)                           Employee further recognizes and acknowledges that it is essential for the proper protection of the business of the Company that Employee be restrained (i) from soliciting or inducing any Employee of the Company or of any subsidiary of the Company (as used in Sections 5, 6 and 7 hereof, collectively, the “Company”) to leave the employ of the Company, (ii) from hiring or attempting to hire any Employee of the Company, (iii) from soliciting the trade of or trading with the customers of the Company for any business purpose, and (iv) from competing against the Company each according to the terms of Section 6 following. .

 

6.                                      Confidentiality, Non-compete and Related Covenants.

 

(a)                           Employee agrees to hold and safeguard the Confidential Information in trust for the Company, its successors and assigns and agrees that he shall not, without the prior written consent of the Company, disclose or make available to anyone for use outside the Company at any time, either during his employment by the Company or subsequent to the termination of his employment by the Company for any reason, including without limitation termination by the Company in a Termination for Cause or otherwise, any of the Confidential Information, whether or not developed by Employee, except as required in the performance of Employee’s duties to the Company.  For the avoidance of doubt, this provision shall not prohibit Employee from reporting possible violations of federal law or regulation to any governmental agency or entity or from making other disclosures that are protected under the whistleblower provisions of federal law or regulation.  The Company’s approval shall not be required, nor shall notice to the Company be required, in connection with such reports or disclosures.

 

(b)                           Upon the termination of Employee’s employment by the Company or by Employee for any reason, including without limitation termination by the Company in a termination for Cause or otherwise, Employee shall promptly deliver to the Company all originals and copies of correspondence, drawings, blueprints, financial and business records, marketing and publicity materials, manuals, letters, notes, notebooks, laptops, reports, flow-charts, programs, proposals and any documents concerning the Company’s customers or concerning products or processes used by the Company and, without limiting the foregoing, shall promptly deliver to the Company any and all other documents or materials containing or constituting Confidential Information.

 

(c)                            Subject to the provisions of Section 6(f) following, Employee agrees that during his employment by the Company he shall not, directly or indirectly, solicit the trade of, or trade with, any customer or prospective customer of the Company for any business purpose other than for the benefit of the Company.  Upon termination of Employee’s employment by the Company, including without limitation termination by the Company in a termination for Cause or otherwise, or upon the resignation of the Employee except in the case of Good Reason, Employee further agrees that for a period of one year after such termination of employment hereunder, Employee shall not, directly or indirectly, solicit the trade of, or trade with, any customers, or prospective customers, of the Company, or solicit or induce, or attempt to solicit or induce, any employee of the Company to leave the Company for any reason whatsoever or hire any employee of the Company.

 

(d)                           Subject to the provisions of Section 6(f) following, During the period of Employee’s employment hereunder and upon termination of Employee’s employment by the Company, including without limitation termination by the Company in a termination for Cause or otherwise, or upon the resignation of the Employee except in the case of Good Reason, Employee agrees that for a period of one year after such termination of employment hereunder, Employee shall not, in any Competitive Territory, engage, directly or indirectly, whether as principal or as agent, officer, director, employee, consultant, shareholder or otherwise, alone or in association with any other person, corporation or other entity, in any Competing Business.  For purposes of this Agreement, (i) the term “Competing Business” shall mean the production

 

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or sales of metallurgical bituminous coal, and (ii) the term “Competitive Territory” shall mean the United States of America, Australia and any other nation in which, to the knowledge of Employee, the Company has made or considered making such sales, either itself or through a subsidiary, affiliate or joint venture partner, during the last two years prior to the termination of Employee’s employment hereunder.

 

(e)                                  Prior to accepting employment during the non-compete period referred to herein, Employee shall notify the Company in order to determine if the position Employee is seeking violates this Agreement.

 

(f)                                   Notwithstanding the provisions of Sections 6(c) or 6(d) to the contrary, the Company, it is sole and absolute discretion, may, by written notice delivered to Employee promptly after the termination of Employee’s employment by the Company or the resignation of Employee, elect to waive and not enforce the non-solicitation and non-compete provisions of Sections 6(c) and 6(d). In the event that the Company elects to waive and not enforce both such sections, (but only both and not just one such section) then the provisions of Section 6(g) following shall not apply.

 

(g)                                  Unless the Company has provided notice that it has waived and will not enforce both the non-solicitation and non-compete provisions of Sections 6(c) and 6(d) as provided in Section 6(f), during the one year period beginning on the first business day following the last day of Employee’s employment with the Company, the Company shall pay the Employee, in twelve equal monthly payments during such year commencing 30 days after the last day of Employee’s employment with the Company, an amount equal to one half (1/2) of the annual salary of Employee as of the business day immediately preceding the last day of Employee’s employment with the Company.  Payments under this section shall be in addition to any severance or other payments due to Employee under the terms of this Agreement.  During such one-year period (unless the waiver contemplated by Section 6(f) has been made), and in consideration of the payments contemplated by this Section 6(g), Employee agrees to consult with the Company as requested by the Company provided such consultation shall not require more than twenty (20) hours of consultation per week and shall be reasonably related to the duties of Employee while employed.  Employee shall provide such consultation by phone, e-mail or other remote communication or at the location of Employee’s principal job location or office immediately prior to the termination of his employment and shall not be required to otherwise travel.

 

7.                                      Injunctive and other relief.

 

(a)                           Employee represents that his experience and capabilities are such that Sections 5 and 6 hereof not prevent him from earning his livelihood and acknowledges that it would cause the Company serious and irreparable injury and cost if Employee were to use his ability and knowledge in competition with the Company or to otherwise breach the obligations contained in said paragraphs.

 

(b)                           In the event of a breach by Employee of the terms of this Agreement, the Company shall be entitled, if it shall so elect, to institute legal proceedings to obtain damages for any such breach, or to enforce the specific performance of this Agreement by Employee and to enjoin Employee from any further violation of this Agreement and to exercise such remedies cumulatively or in conjunction with all other rights and remedies provided by law.  Employee acknowledges, however, that the remedies at law for any breach by him of the provisions of this Agreement may be inadequate and that the Company shall be entitled to injunctive relief against him in the event of any breach whether or not the Company may also be entitled to recover damages hereunder.

 

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(c)                            It is the intention of the parties that the provisions of Sections 5 and 6 hereof shall be enforceable to the fullest extent permissible under applicable law, but that the unenforceability (or modification to conform to such law) of any provision or provisions hereof shall not render unenforceable, or impair, the remainder thereof.  If any provision or provisions hereof shall be deemed invalid or unenforceable, either in whole or in part, this Agreement shall be deemed amended to delete or modify, as necessary, the offending provision or provisions and to alter the bounds thereof in order to render it valid and enforceable.

 

8.                                      Arbitration.

 

Any dispute arising out of or relating to this Agreement or the breach, termination or validation hereof, other than actions for specific performance or an injunction under Section 7 hereof, shall be finally settled by arbitration conducted expeditiously in accordance with the American Arbitration Association Employment Arbitration Rules by three independent and impartial arbitrators.  Each party shall appoint one of such arbitrators, and the two arbitrators so appointed shall appoint the third arbitrator.  The arbitration shall be governed by the United States Arbitration Act, 9 U.S.C. §§ 1-16, and judgment on the award rendered by the arbitrators may be entered by any court having jurisdiction thereof.  The place of arbitration shall be Beckley West Virginia.  The arbitrators are not empowered to award damages in excess of compensatory damages and each party hereby irrevocably waives any damages in excess of compensatory damages.

 

9.                                      Governing Law.

 

This Agreement shall be governed by and construed in accordance with the laws of the State of West Virginia without giving effect to any choice or conflict of law provision or rule (whether of the State of West Virginia or any other jurisdiction) that would cause the application of the laws of any jurisdiction other than the State of West Virginia.

 

10.                               Amendments, waivers, etc.

 

No amendment of any provision of this Agreement, and no postponement or waiver of any such provision or of any default, misrepresentation, or breach of warranty or covenant hereunder, whether intentional or not, shall be valid unless such amendment, postponement or waiver is in writing and signed by or on behalf of the Company and Employee.  No such amendment, postponement or waiver shall be deemed to extend to any prior or subsequent matter, whether or not similar to the subject matter of such amendment, postponement or waiver.  No failure or delay on the part of the Company or Employee in exercising any right, power or privilege under this Agreement shall operate as a waiver thereof nor shall any single or partial exercise of any right, power or privilege hereunder preclude any other or further exercise thereof or the exercise of any other right, power or privilege.

 

11.                               Assignment.

 

The rights and duties of the Company under this Agreement may be transferred to, and shall be binding upon, any person or company which acquires or is a successor to the Company, its business or a significant portion of the assets of the Company by merger, purchase or otherwise, and the Company shall require any such acquirer or successor by agreement in form and substance reasonably satisfactory to Employee, expressly to assume and agree to perform this Agreement in the same manner and to the same extent that the Company, as the case may be, would be required to perform if no such acquisition or succession had taken place.  Regardless of whether such agreement is executed, this Agreement shall be binding upon any acquirer or successor in accordance with the operation of law and such acquirer or successor shall be deemed the “Company”, as the case may be, for purposes of this Agreement.  Except as

 

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otherwise provided in this Section 11, neither the Company nor Employee may transfer any of their respective rights and duties hereunder except with the written consent of the other party hereto.

 

12.                               Interpretation, etc.

 

The Company and Employee have participated jointly in the negotiation and drafting of this Agreement.  If an ambiguity or question of intent or interpretation arises, this Agreement shall be construed as if drafted jointly by the Company and Employee and no presumption or burden of proof shall arise favoring or disfavoring the Company or Employee because of the authorship of any of the provisions of this Agreement.  The word “including” shall mean including without limitation.  The rights and remedies expressly specified in this Agreement are cumulative and are not exclusive of any rights or remedies which either party would otherwise have.  The Section headings hereof are for convenience only and shall not affect the meaning or interpretation of this Agreement.  For purposes of this Agreement, the term “termination” when used in the context of a condition to, or timing of, payment hereunder shall be interpreted to mean a “separation from service” as that term is used in Section 409A of the Code.

 

13.                               Integration; counterparts.

 

This Agreement constitutes the entire agreement among the parties and supersedes any prior understandings, agreements or representations by or among the parties, written or oral, to the extent they relate to the subject matter hereof.  This Agreement may be executed in one or more counterparts, each of which shall be deemed an original but all of which together shall constitute one and the same instrument.  It shall not be necessary in making proof of this Agreement to produce or account for more than one such counterpart.

 

14.                               Code Section 409A.

 

All amounts payable under this Agreement are intended to comply with the “short term deferral” exception from Section 409A of the Internal Revenue Code (“Section 409A”) specified in Treas. Reg. § 1.409A-1(b)(4) (or any successor provision) or the “separation pay plan” exception specified in Treas. Reg. § 1.409A-1(b)(9) (or any successor provision), or both of them, and shall be interpreted in a manner consistent with the applicable exceptions. Notwithstanding the foregoing, to the extent that any amounts payable in accordance with this Agreement are subject to Section 409A, this Agreement shall be interpreted and administered in such a way as to comply with Section 409A to the maximum extent possible.   Each installment payment of compensation under this Agreement shall be treated as a separate payment of compensation for purposes of applying Section 409A.   If payment of any amount subject to Section 409A is triggered by a separation from service that occurs while the Employee is a “specified employee” (as defined by Section 409A), and if such amount is scheduled to be paid within six (6) months after such separation from service, the amount shall accrue without interest and shall be paid the first business day after the end of such six-month period, or, if earlier, within 15 days after the appointment of the personal representative or executor of the Employee’s estate following the Employee’s death.  “Termination of employment,” “resignation” or words of similar import, as used in this Agreement shall mean, with respect to any payments subject to Section 409A, the Employee’s “separation from service” as defined by Section 409A.

 

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WITNESS the due execution hereof as of the date first above written.

 

	
Witness:
    	
CORONADO   GLOBAL RESOURCES INC.
    
	
 
    	
 
    
	
/s/ Kerry-Lee Doyle
    	
 
    	
By:
    	
/s/   Garold R. Spindler
    
	
 
    	
Garold   R. Spindler
    
	
 
    	
Chief   Executive Officer
    
	
 
    	
 
    
	
Witness:
    	
 
    
	
 
    	
 
    
	
/s/ Emma Pollard
    	
 
    	
By:
    	
/s/   James I. Campbell
    
	
 
    	
James   I. Campbell
    

 

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