Document:

Exhibit
10.1

 

Execution
Version

 

AMENDED
AND RESTATED TERMS AND CONDITIONS IN CONNECTION WITH THE OWNERSHIP TRANSFER OF THE BELLE AYR AND EAGLE BUTTE MINES FROM THE SELLER
PARTIES TO EAGLE SPECIALTY MATERIALS, LLC

 

Set
forth below is a summary of the material terms of the arrangements between Contura Energy, Inc., a Delaware corporation (“Contura”),
and Eagle Specialty Materials, LLC, an Ohio limited liability company (“Operating Company”, and together
with Contura, the “Parties”), in connection with the proposed ownership transfer of the Western Mines
(as defined below) from the Seller Parties (as defined below) to Operating Company (the “Transfer”).
This term sheet (this “Term Sheet”) (i) is dated as of October 18, 2019 (the “Closing
Date”, and the transactions between the Parties set forth in this Term Sheet will close simultaneous with the ownership
transfer of the Western Mines (as defined below) on the Closing Date (such closing of the ownership transfer, the “Closing”),
unless otherwise expressly stated in this Term Sheet), (ii) amends and restates the term sheet between the Parties dated September
15, 2019, as amended (such term sheet, the “Original Term Sheet,” and such date, the “Signing
Date”) and (iii) subject to the terms and conditions set forth below, is a binding obligation of the Parties hereto.

 

	Provision	Terms
    & Conditions
	1.Recitals:	The Parties acknowledge
        and agree as follows:

         

        ·     as
        part of, or related to, the Chapter 11 bankruptcy auction of Blackjewel, L.L.C. (“Blackjewel”)
        and certain of its subsidiaries and affiliates (collectively, the “Debtors” or the “Seller
        Parties”, as applicable), Contura agreed, among other things, to serve as the stalking horse purchaser to
        acquire the Pax, Belle Ayr and Eagle Butte Mines (the Belle Ayr and Eagle Butte Mines are referred to herein as the “Western
        Mines”);

         

        ·     Contura
        provided a cash deposit of $8.1 million to the Seller Parties (the “Purchase Deposit”), to be
        applied to the purchase price of the acquisition of the Pax Mine and/or the Western Mines;

         

        ·     Contura
        and the Seller Parties closed the purchase and sale of the Pax Mine on September 18, 2019, and in connection therewith
        $5.05 million of the Purchase Deposit was applied to reduce the consideration payable in connection therewith;

         

        ·     Contura
        (i) controls the Purchased Permits (as defined in the Permit Operating Agreement dated December 8, 2017 between Contura
        Coal West (as defined below) and Blackjewel), (ii) has posted the bonds with the Land Quality Division of the Wyoming
        Department of Environmental Quality (“DEQ”) securing the reclamation obligations related to
        the Western Mines (such reclamation obligations, the “Reclamation Obligations” and such bonds,
        the “Contura Bonds”) and (iii) has posted $9 million of cash collateral in respect of the Contura
        Bonds (the “Contura Cash Collateral”);

         

        ·     Contura
        has previously posted certain collateral (including an approximately $19 million letter of credit) and corporate guarantees
        in respect of certain bonds of Blackjewel (“Contura Blackjewel Collateral”); 

         

        ·     the
        equipment at the Western Mines is owned by Blackjewel; provided, however, that (i) Riverstone Credit Partners –
        Direct L.P., a 

        

  

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	Provision	Terms
    & Conditions

	 	        Delaware
        limited partnership (“Riverstone”) purports to have a first priority lien (the “Riverstone
        Lien”) on some or all the equipment at the Western Mines (the “Mine Equipment”)
        securing certain obligations owed to Riverstone by Blackjewel (the “Riverstone Debt”) and (ii)
        Contura purports to have a first priority lien (the “Contura Lien”) on some or all the Mine
        Equipment securing certain obligations owed to Contura by Blackjewel;

         

        ·     Contura
        Wyoming Land, LLC, a Delaware limited liability company and a controlled affiliate of Contura (“Contura Land”),
        owns two ranches referred to by the Parties as the Belle Ayr Ranch and the Black Thunder Ranch (collectively, the “Ranches”),
        and each Ranch is posted as collateral by Contura to the DEQ to partially secure Contura’s reclamation obligations
        to the State of Wyoming (the “Real Property Collateral”); 

         

        ·     the
        Federal government, through the Bureau of Land Management (“BLM”), has alleged that Contura
        Land owes certain royalties, and interest and penalties thereon, generated by the Western Mines, which Blackjewel is obligated
        to, but failed to, pay (the “Federal Royalty Claim”);

         

        ·     Campbell
        County in Wyoming (“Campbell County”) has alleged that Contura Coal West, LLC, a Delaware
        limited liability company (“Contura Coal West”), owes certain taxes which Blackjewel is obligated
        to, but failed to, pay; and

         

        ·     Operating
        Company desires to acquire the Western Mines from the Seller Parties (in lieu of Contura acquiring such assets), and the
        Parties entered into the Original Term Sheet to reflect the agreements between the Parties related to the contemplated
        ownership transfer of the Western Mines pursuant to such acquisition from the Seller Parties to Operating Company.

         

        ·     The
        Parties are entering into this Term Sheet to amend and restate the Original Term Sheet.

         

	2.Post
    Signing Date Additional Agreements; DOJ Settlement Proposal	The Parties
        have entered into the following agreements (collectively, and together with any definitive documentation that may subsequently
        be entered into in connection therewith, the “Additional Agreements”):

         

        ·    A
        binding term sheet or definitive agreement among Operating Company and the Seller Parties providing for, among other things,
        the purchase of the Western Mines by Operating Company from the Seller Parties for consideration consisting of (i) an
        agreed amount of cash and (ii) the assumption of certain liabilities including the Reclamation Obligations and certain
        administrative claims against the Seller Parties (such term sheet (and/or, as applicable, to the extent it is superseded
        by one or more definitive agreements with respect thereto, such definitive agreement(s)) or 

        

 

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	Provision	Terms
    & Conditions

	 	 definitive
        agreement, the “Western Mines Purchase Term Sheet”;.

         

        ·    A
        binding term sheet or definitive agreement among Contura and the Seller Parties that, among other things, provides (i)
        for an agreement by the parties thereto that the rights and obligations of Contura to purchase from the Seller Parties
        the Western Mines have terminated, (ii) that at Closing Contura will waive its rights with respect to the remaining portion
        of the Purchase Deposit relating to the Western Mines, (iii) the Seller Parties will dismiss the previously filed applications
        to transfer the Purchased Permits to one of the Seller Parties and will use commercially reasonable efforts to have certain
        sureties release to Contura certain collateral previously posted and (iv) the Seller Parties will grant a release to Contura
        and its affiliates in respect of certain claims.

         

        ·    A
        binding term sheet or definitive agreement among Operating Company, Riverstone and the Seller Parties providing for certain
        matters relating to the Riverstone Debt.

         

        ·    A
        binding term sheet or definitive agreement among Campbell County, Operating Company, Blackjewel and Contura Coal West
        pursuant to which, among other things, (i) Operating Company agrees to make certain payments to Campbell County, (ii)
        Campbell County releases certain claims against Blackjewel and Contura arising out of or attributable to the Western Mines
        and (iii) Contura makes a payment to Campbell County of $13.5 million. 

         

        ·    A
        binding term sheet or definitive agreement among the State of Wyoming, Operating Company, Blackjewel and Contura pursuant
        to which, among other things, (i) Operating Company agrees to make certain payments to the State of Wyoming and (ii) the
        State of Wyoming releases certain claims against Blackjewel and Contura arising out of or attributable to the Western
        Mines.

         

        ·    A
        binding term sheet or definitive agreement among Contura, Contura Coal West, Operating Company and all applicable sureties
        pursuant to which, among other things, the applicable sureties (i) agree that if the DEQ makes a demand for payment pursuant
        to the Substitute Bonds (as defined below) the sureties will promptly act in accordance with the terms of the Substitute
        Bonds, (ii) agree that notwithstanding anything in the Substitute Bonds, any obligation under applicable law or anything
        otherwise to the contrary (including any language in the Substitute Bonds making or purporting to make Contura Coal West
        jointly and severally liable thereon), neither Contura nor any of its affiliates will have any liability in respect of
        or relating to the Substitute Bonds or the obligations secured thereby and (iii) acknowledge and agree to the AVS Agreement
        (as defined below). For the

        

 

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	Provision	Terms
    & Conditions

	 	        avoidance
        of doubt, neither Contura nor any of its affiliates will be required to make any payments pursuant to the foregoing arrangements.

         

        ·    A
        binding term sheet or definitive agreement among Contura Coal West, the United States Department of Interior’s (“DOI”)
        Office of Surface Mining, Reclamation and Enforcement (the “OSMRE”), FM Coal, LLC (“FM
        Coal”) and Operating Company providing for, among other things, the matters set forth on Annex A (the “AVS
        Agreement”).

         

        Operating
Company has submitted to the Department of Justice (“DOJ”) a proposed term sheet between Operating Company
and certain Federal agencies that is recommended for approval by the Civil Division of the DOJ pursuant to which, among other
things, (i) Operating Company will agree to make certain payments to one or more of the Federal agencies party thereto necessary
to cure the unpaid prepetition claims against Blackjewel with respect to the federal leases associated with the Western Mines
and (ii) upon payment of certain amounts by Operating Company, Contura and its affiliates will have no further potential liability
in respect of certain federal claims against Contura and its affiliates (such proposal or any revised version thereof, the “DOJ
Settlement Proposal”), and any revised version thereof shall be on terms and conditions, as they relate to Contura,
that are reasonably satisfactory to Contura. For the avoidance of doubt, neither Contura nor any of its affiliates will be required
to make any payments pursuant to the foregoing arrangements.

	3.Permit
Operating Agreement Consent
	Contura
agrees that from the Closing Date until the earlier of (i) the date on which the Purchased Permits transfer to Operating Company
and (ii) August 30, 2020 (as may be extended by mutual consent agreement of Contura and Operating Company, such consent not
to be unreasonably withheld by Contura), Contura hereby gives its consent for Blackjewel to permit Operating Company to operate
under the Permit Operating Agreement dated December 8, 2017 between Contura Coal West and Blackjewel (the “Permit
Operating Agreement”), but subject to Operating Company’s compliance with the following covenants (which Operating
Company agrees it will comply with):

         

        ·     Operating
        Company will pay on or before they are due all royalties, taxes, AML fees and other amounts arising from mining operations
        under the Purchased Permits; and

         

        ·     Operating
Company will (i) comply with all terms of the Permit Operating Agreement (including the indemnification obligations thereunder
and all obligations thereunder to deliver certificates of insurance evidencing that all required insurance coverages are in place)
as if it were the Transferee (as defined therein) thereunder and (ii) operate the Western Mines in compliance with all applicable
legal requirements and the current mining and reclamation plans.

        

 

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	Provision	Terms
    & Conditions

	 	Operating
                                         Company’s obligations under the above shall not be superseded by, but shall be
                                         in addition to, any obligations it may have under the Additional Agreements or the Consents
                                         to Operate (as defined below). The parties agree that for purposes of the AVS Agreement
                                         Operating Company will be treated as assuming operational responsibility for the Purchased
                                         Permits as of the Closing. 

	4.Transfer
    of Mining Permits and Satisfaction of Bonding Obligations:	·    As
        soon as reasonably practicable following the Closing Date, Operating Company will (i) prepare, in conjunction with Contura,
        the applications necessary to transfer the Purchased Permits (the “Permit Applications”) from
        Contura to Operating Company and (ii) submit the Permit Applications to the DEQ. Operating Company will use commercially
        reasonable efforts to cause the Permit Applications to be approved, and the Purchased Permits to be transferred, as promptly
        as possible. Notwithstanding the foregoing, Contura shall have the right to control the Permit Application process if
        it elects to do so.

         

        ·    Operating
        Company has submitted the reclamation bonds, for the benefit of the DEQ, that are required in connection with the release
        by DEQ at Closing of the Contura Bonds and the Real Property Collateral (the “Substitute Bonds”).
        

         

        ·    If
        it has not already done so, then as soon as reasonably practical (and in any event within 30 days) following the Closing
        Date, Operating Company will arrange to have one or more of sureties issue the reclamation bonds, for the benefit of the DEQ,
        that are required in connection with the submission of the Permit Applications. Operating Company will be the named principal
        on these bonds.

        

	5.Government
    Leases	As soon as reasonably
        practicable following the Closing Date (and in any event within 10 days after the DOJ approves the DOJ Settlement Proposal),
        Operating Company will (i) prepare, in conjunction with the Seller Parties, the applications necessary to transfer to
        Operating Company the Federal and State of Wyoming leases for the Western Mines (the “Lease Applications”)
        and (ii) submit the Lease Applications to the BLM and the State of Wyoming as applicable. Operating Company will
        use commercially reasonable to cause the Lease Applications to be approved, and the leases to be transferred, as promptly
        as possible.

         

        If it has not already done
        so, then as Operating Company will arrange, if required, to have one or more sureties issue the lease bonds, for the
        benefit of BLM and the State of Wyoming, that are required in connection with the submission of the Lease Applications and
        will submit the applicable bonds to the applicable agency within 10 days of request therefor by such agency.

        

	6.Cooperation:	After
    the Closing Date, Contura will use commercially reasonable efforts to assist Operating Company with (i) submission of the
    Permit Applications and (ii) preparation of any documents necessary for the Real Property Transfer (as defined below).
	7.Covenants:	Each Party agrees (i)
        to comply with its obligations under the Additional Agreements and (ii) not to (x) amend, waive or terminate, (y) seek
        any waiver of or (z) fail to use commercially reasonable efforts to enforce, any terms or conditions of any Additional
        Agreement (or terminate any

        

 

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	Provision	Terms
    & Conditions

	 	Additional Agreement)
        without the consent of the other Party if such act or omission action could reasonably be expected to delay Closing, result
        in the Closing not occurring or otherwise adversely affect the other Party or any of its affiliates. Operating Company
        agrees to satisfy the Reclamation Obligations and to indemnify Contura and its affiliates for all Losses arising from
        or relating to the Reclamation Obligations. The term “Reclamation Obligations” includes all
        activities required under any applicable law or permit to prevent, mitigate or otherwise address the effects of mining
        activities (including the exploration, permitting, extraction, processing, storage and transportation of coal, non-coal
        minerals, natural gas and coalbed methane gas), including the reclamation or restoration of lands used for such activities.
        If any Party breaches any covenant in this Term Sheet it will indemnify the other Party and its affiliates for all losses,
        claims, liabilities, damages and expenses (including expenses of enforcing this indemnity or any other indemnity in this
        Term Sheet and including any inability to collect any amounts owing under the DIP Facility) (“Losses”)
        arising from or relating thereto.

         

        If  the DOJ
Settlement Proposal is approved by the DOJ, Operating Company shall take such actions as are necessary so that promptly thereafter
the parties thereto enter into a binding term sheet or definitive agreement on the terms of the DOJ Settlement Proposal and such
binding term sheet or definitive agreement will be treated as an Additional Agreement and Operating Company shall use commercially
reasonable efforts to cause any order of any bankruptcy court approving such binding term sheet or definitive agreement to be
reasonably acceptable to Contura insofar as such order may affect Contura. Operating Company will use commercially reasonable
efforts to obtain such approval. Operating Company will not revise the DOJ Settlement Proposal in a manner that is adverse to
Contura without Contura’s consent. Effective as of the Closing, and regardless of the status of the DOJ Settlement Proposal,
Operating Company will indemnify Contura and its affiliates for all Losses arising from or relating to any claims against Contura
or its affiliates on account of royalties, severance taxes, OSMRE Abandoned Mine Land fees and other debt, and other amounts,
and all interest and penalties relating to any of the foregoing, owing in respect of or relating to the Western Mines, including
the Federal Royalty Claim (“Federal Claims Indemnity”).

 

        Effective as of the Closing,
Operating Company will indemnify Contura and its affiliates for all Losses arising from or relating to any claims by Campbell
County or Wyoming in respect of any royalties, taxes, penalties and other amounts owing in respect of or relating to the Western
Mines 

        

 

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	Provision	Terms
    & Conditions

	 	

(collectively with the Federal Claims Indemnity, the “Government
Claims Indemnities”). 

 

Notwithstanding anything to the contrary herein, Operating Company?s indemnification obligations with respect to the Government Claims Indemnities will be limited to Losses attributable only to the period beginning on December 8, 2017.

 

Operating Company agrees to comply with (i) the Consent to Operate
Under Permit to Mine (with respect to Permit to Mine No. 214) effective as of the date hereof between Contura Coal West and Operating
Company and (ii) the Consent to Operate Under Permit to Mine (with respect to Permit to Mine No. 428) effective as of the date
hereof between Contura Coal West and Operating Company (collectively, the “Consents to Operate”).

  

        Neither Operating Company
        nor any of its affiliates shall issue any press releases or make any public statements with respect to this Term Sheet
        or the transactions contemplated hereby without the prior consent of Contura. Contura agrees to use commercially reasonable
        efforts to consult with Operating Company before issuing any press release or making any public statement with respect
        to this Term Sheet or the transactions contemplated hereby.

        

	8.Cash
    Consideration:	On the Closing Date, and subject
to the conditions set forth below, Contura will make a $81,269,302 cash payment to Operating Company (the “Closing
Cash Consideration”). Within 15 business days of the Closing Date, Contura will make a cash payment to an escrow
account in the amount of $8,730,698 (the “Second Payment”) pursuant to mutually agreed terms. The Parties may mutually agree that Contura will pay a portion of the Second
Payment to Operating Company if such amount is secured by a guarantee acceptable to Contura.

	9.Real
    Property:	Within
    10 business days of the release to Contura of the Real Property Collateral by DEQ, Contura Land will convey pursuant to a
    quitclaim deed all of its right, title and interest in both the surface and mineral estate of each Ranch, and any other surface
    and/or mineral estates owned by Contura, or its controlled affiliates, in Wyoming, to Operating Company (the “Real
    Property Transfer”).
	10.Specific
    Performance	Each
    Party shall be entitled to the remedy of specific performance to prevent any breach of this Term Sheet by the other party
    and no bond shall be required to be posted in connection therewith.
	11.Termination	If
    the Closing has not occurred on or before October 18, 2019, either party hereto may terminate the rights and obligations under
    this Term Sheet at any time prior to Closing by written notice to the other party.  No termination of this Term
    Sheet will release any Party from any liability for any pre-termination breach and the indemnities hereunder will survive
    any termination to the extent such indemnities relate to acts or omissions occurring prior to termination.

 

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	Provision	Terms
    & Conditions

	12.Governing
    Law:	The
    provisions of this Term Sheet will be governed by, and interpreted in accordance with, the laws of the State of Delaware,
    excluding its choice of law principles.

 

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Contura and Operating
Company hereby agree that the foregoing accurately sets forth our understanding of the foregoing arrangements, and we now execute
this Term Sheet as of the date first set forth above.

 

	 	CONTURA
    ENERGY, INC.
	 	 	 
	 	 	 
	 	By:
    	/s/ C. Andrew
    Eidson
	 	Name:
    	C. Andrew Eidson
	 	Title:  	Executive Vice President and Chief Financial
    Officer

 

 

	 	EAGLE SPECIALTY MATERIALS, LLC
	 	 	 
	 	 	 
	 	By: 	/s/ Michael
    T. Costello
	 	Name: 	Michael T. Costello
	 	Title: 	Authorized Representative

    9 

     

    

Annex A

 

		1.	Neither Operating Company nor FM Coal will operate the Purchased Permits until such time as Operating Company or FM Coal posts
reclamation bonds for the Purchased Permits in an amount that satisfies the Wyoming regulatory authority and meets all other federal,
state, and local requirements that will allow Operating Company to operate the Purchased Permits.

 

		2.	OSMRE will not attempt to link Contura Coal West to any Surface Mining Control and Reclamation Act of 1977, as revised (“SMCRA”)
violation created by Operating Company from the time Operating Company or its designee or contractor, or any other Operating Company
affiliate assumes operational responsibility for the Purchased Permits through and until the time that the Purchased Permits are
transferred to Operating Company.

 

		3.	OSMRE will not attempt to make Contura Coal West or any of the owners or controllers of Contura Coal West liable for the abatement
of any SMCRA violation created by Operating Company from the time Operating Company or its designee or contractor, or any other
Operating Company affiliate assumes operational responsibility for the Purchased Permits through and until the time that the Purchased
Permits are transferred to Operating Company or its designee or any other Operating Company affiliate.

 

		4.	Operating Company will use its best efforts to avoid creating mining conditions that will lead to the issuance of SMCRA violations
and will promptly abate any such violation cited or pointed out by OSMRE or the Wyoming regulatory authority.

 

		5.	Contura Coal West and Operating Company will work expeditiously in accordance with SMCRA and the Wyoming regulatory program
to complete the transfer of the Purchased Permits;

 

		6.	Operating Company will operate the two mines consistent with the current mining and reclamation plans for the two mines and
will re-employ as many of the Debtors’ miners as possible.

 

		7.	As long as Contura Coal West is the primary bonded party on the Purchased Permits, the Contura Coal West reclamation bonds
can be called or forfeited in accordance with Wyoming's counterpart to SMCRA and the rules and regulations that implement it; provided,
however, any such bond forfeiture shall not be linked to or held against Contura Coal West or any of its affiliates, officers,
directors, owners or controllers under the Applicant Violator System. Contura Coal West's liability as the primary bonded entity
will continue until such time as those reclamation bonds posted as of the date of the agreement among Contura Coal West, OSMRE,
FM Coal and Operating Company (the “OSMRE Agreement”) are released or replaced under Wyoming law.

 

		8.	The OSMRE Agreement does not establish any precedent and cannot be used by Contura Coal West or Operating Company or any other
organization in an attempt to justify similar terms in any subsequent SMCRA case, administrative appeal, complaint, claim, case,
or matter before the courts or administrative tribunals of the United States of America or any state.

 

 

 

 

 

    A-1Exhibit 10.2

 

AGREEMENT

 

THIS
AGREEMENT is entered into this 18th day of October, 2019, between the United States Department of the Interior Office of Surface
Mining, Reclamation and Enforcement (“OSMRE”), Contura Coal West, LLC (“Contura”), FM Coal, LLC (“FM
Coal) and Eagle Specialty Materials, LLC (“Eagle”).

 

RECITALS:

 

WHEREAS,
Contura is the holder of Wyoming Department of Environmental Quality Permit No. 428-T7 for the Eagle Butte Mine located in
Campbell County, Wyoming and Wyoming Department of Environmental Quality Permit No. 214-T8 for the Belle Ayr Mine located in Campbell
County, Wyoming (collectively referred to as the “Permits”);

 

WHEREAS,
Contura sold the Eagle Butte Mine and the Belle Ayr Mines to Blackjewel LLC (“Blackjewel LLC”) on December 8,
2017, permitting Blackjewel to operate under the Permits from and after that date pending the transfer of the Permits to Blackjewel;

 

WHEREAS,
Blackjewel and certain affiliates filed Chapter 11 bankruptcy petitions on July 1, 2019, and there are unusual circumstances
resulting from the filing of that bankruptcy by Blackjewel;

 

WHEREAS
Blackjewel is presently the assignee of Contura’s Federal coal leases, critical aspects of surface coal mining operations
on the Permits;

 

WHEREAS
hundreds of workers at these two mines in Wyoming were unexpectedly thrown out of work by the filing of bankruptcy by Blackjewel;

 

WHEREAS
Eagle is willing to restart mining operations at Eagle Butte and Belle Ayr and is willing to continue mining operations on
the Permits in accordance with the existing mining and operation plans for the Permits;

 

WHEREAS
Eagle has agreed that it will operate those mines consistent with the current mining and reclamation plans for the two mines
and will re-employ as many of Blackjewel’s miners as possible;

 

WHEREAS
Eagle needs the cooperation of Contura in order to have the Permits transferred to it and to transfer or otherwise obtain
the reclamation bonds, royalty bonds, mineral leases and other rights needed to operate The Permits; and

 

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WHEREAS
Contura is willing to cooperate in the transfer from Contura to Eagle of the Permits and to transfer or otherwise cooperate
with Eagle as it obtains reclamation bonds, royalty bonds, mineral leases and other rights needed to operate those two permits
only if it is released as a controller of the Permits from the date Eagle assumes operational responsibility for the Permits to
the date the Permits are transferred to Eagle, and Eagle obtains the necessary reclamation bonds, royalty bonds, mineral leases
and other necessary mineral rights related to the Permits;

 

NOW
THEREFORE, in consideration of these premises, Contura, FM Coal, Eagle and OSMRE intend to be legally bound by, and knowingly,
voluntarily, and mutually agree to, the terms and conditions described fully below:

 

		(a)	Neither Eagle
                                         nor FM Coal will operate the Permits until such time as Eagle or FM Coal posts reclamation
                                         bonds for the Permits in an amount that satisfies the Wyoming regulatory authority and
                                         meets all other Federal, state, and local requirements that will allow Eagle to operate
                                         the Permits;

 

		(b)	Owing to the
                                         bankruptcy of Blackjewel, OSMRE will not attempt to link Contura to any SMCRA violation
                                         created by Eagle from the time Eagle or its designee or contractor, or any other Eagle
                                         affiliate assumes operational responsibility for the Permits through and until the time
                                         that the Permits are transferred to Eagle;

 

		(c)	OSMRE will
                                         not attempt to make Contura or any of the owners or controllers of Contura liable for
                                         the abatement of any SMCRA violation created by Eagle from the time Eagle or its designee
                                         or contractor, or any other Eagle affiliate assumes operational responsibility for the
                                         Permits through and until the time that the Permits are transferred to Eagle or its designee
                                         or any other Eagle affiliate;

 

		(d)	Eagle will
                                         use its best efforts to avoid creating mining conditions that will lead to the issuance
                                         of SMCRA violations and will promptly abate any such violation cited or pointed out by
                                         OSMRE or the Wyoming regulatory authority;

 

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		(e)	Contura and
                                         Eagle will work expeditiously in accordance with SMCRA and the Wyoming regulatory program
                                         to complete the transfer of the Permits.

 

		(f)	Eagle will
                                         operate those mines consistent with the current mining and reclamation plans for the
                                         two mines and will re-employ as many of Blackjewel’s miners as possible;

 

		(g)	As long as
                                         Contura is the primary bonded party on the Permits, the Contura reclamation bonds can
                                         be called or forfeited in accordance with Wyoming’s counterpart to SMCRA and the
                                         rules and regulations that implement it; provided, however, any such bond forfeiture
                                         shall not be linked to or held against Contura or any of its affiliates, officers, directors,
                                         owners or controllers under the Applicant Violator System. Contura’s liability
                                         as the primary bonded entity will continue until such time as those reclamation bonds
                                         posted as of the date of this Agreement are released or replaced under Wyoming law;

 

		(h)	This Settlement
                                         Agreement does not establish any precedent and cannot be used by Contura or Eagle or
                                         any other organization in an attempt to justify similar terms in any subsequent SMCRA
                                         case, administrative appeal, complaint, claim, case, or matter before the courts or administrative
                                         tribunals of the United States of America or any State.

 

		(i)	The parties
                                         may modify, renegotiate, or cancel the terms of this Settlement Agreement only by mutual
                                         written consent signed and dated by Contura, FM Coal, Eagle and OSMRE;

 

		(j)	If any paragraph
                                         or portion of this Settlement Agreement is determined to be unenforceable, the rest and
                                         remainder of this Settlement Agreement will remain in full force and effect;

 

		(k)	Contura and
                                         Eagle agree and acknowledge that any failure to meet and satisfy any of their obligations
                                         under this Settlement Agreement will constitute a breach of this Settlement Agreement,
                                         giving OSMRE and the Wyoming regulatory authority the right to any appropriate remedy
                                         permitted by law, including but not limited to bond forfeiture; and,

 

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		(l)	FM Coal is
                                         an affiliate of Eagle and may provide guaranties, obtain surety bonds and/or execute
                                         documents related to the transaction proposed herein, and so agrees to be bound to the
                                         same terms and conditions stated herein.

 

All terms
and conditions relied upon by the parties are contained in this Settlement Agreement. There are no oral or unwritten promises
that are being relied upon by the FM Coal, Eagle, Contura or OSMRE.

 

THE
REST OF THIS PAGE

IS
INTENTIONALLY LEFT BLANK

 

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EXECUTED
BY THE PARTIES AS INDICATED:

 

	 	 	 
	For
    OSMRE:	 	 
	 	 	 
	 	 	 
	/s/
    Lanny Erdos	 	10/1/19
	Lanny Erdos	 	Date
	Principal Deputy Director,
    exercising the authority of the Director	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	For
    Contura:	 	 
	 	 	 
	 	 	 
	/s/
    C. Andrew Eidson	 	10/7/19
	C. Andrew Eidson	 	Date
	President, Manager
    and Treasurer	 	 
	 	 	 
	 	 	  
	 	 	 
	 	 	 
	For
    FM Coal:	 	 
	 	 	 
	 	 	 
	Michael
                                         T. Costello

	 	10/18/19
	Michael
                                    T. Costello

 

	 	Date
	Its authorized agent	 	 
	 	 	 
	 	 	 

	For
    Eagle:	 	 
	 	 	 
	 	 	 
	Michael
                                         T. Costello

	 	10/18/19
	Michael
                                         T. Costello

	 	Date
	Its
    authorized agent	 	 
	 	 	 
	 	 	 

 

 

    Page 5 of 5

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