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Exhibit 4.2

DESCRIPTION OF SECURITIES REGISTERED 
PURSUANT TO SECTION 12 OF THE 
SECURITIES EXCHANGE ACT OF 1934
    The following is a summary of the material terms of the securities of Alpha Metallurgical Resources, Inc. registered under Section 12 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), as of February 28, 2021. Our authorized capital stock under our second amended and restated certificate of incorporation, as amended, consists of 50,000,000 shares of common stock, par value $0.01 per share and 5,000,000 shares of preferred stock, par value $0.01 per share. “Alpha”, “our” or “the Company” refers to Alpha Metallurgical Resources, Inc.

DESCRIPTION OF ALPHA CAPITAL STOCK 

The following is a description of the material terms of our second amended and restated certificate of incorporation, as amended, and third amended and restated bylaws, as amended, in each case as in effect and affecting the rights of our stockholders upon the completion of this offering. We refer you to our second amended and restated certificate of incorporation, and the amendment thereto, and third amended and restated bylaws, and the amendment thereto, copies of which are filed as exhibits to our Annual Report on Form 10-K, of which this exhibit forms a part. We encourage you to read our second amended and restated certificate of incorporation, as amended, and third amended and restated bylaws, as amended, and the applicable provisions of the General Corporation Law of the State of Delaware (the “DGCL”) for additional information.

Common Stock

Common stock outstanding.  As of February 28, 2021, there were 18,389,139 shares of common stock outstanding, which were held of record by 148 stockholders. All outstanding shares of common stock are fully paid and non-assessable.

Voting rights. The holders of common stock are entitled to one vote per share on all matters to be voted upon by the stockholders.

Dividend rights. Subject to preferences that may be applicable to any outstanding preferred stock, the holders of common stock are entitled to receive ratably such dividends, if any, as may be declared from time to time by the board of directors out of funds legally available therefor. 

Rights upon liquidation. In the event of our liquidation, dissolution or winding up, the holders of common stock are entitled to share ratably in all assets remaining after payment of liabilities, subject to prior distribution rights of preferred stock, if any, then outstanding.

Other rights. The holders of common stock have no preemptive or conversion rights or other subscription rights. There are no redemption or sinking fund provisions applicable to the common stock.

Preferred Stock

    

As of February 28, 2021, there were no shares of preferred stock outstanding. Alpha’s board of directors has the authority to issue the preferred stock in one or more series and to fix the designations, powers, preferences and relative, participating, optional or other rights, if any, and the qualifications, limitations or restrictions thereof, if any, with respect to each such class or series of preferred stock and the number of shares constituting each such class or series, and to increase or decrease the number of shares of any such class or series to the extent permitted by Delaware law.

The issuance of preferred stock may have the effect of delaying, deferring or preventing a change in control of Alpha without further action by the stockholders and may adversely affect the voting and other rights of the holders of common stock. At present, Alpha has no plans to issue any of the preferred stock.

Anti-takeover Effects of Certain Provisions of Alpha’s Second Amended and Restated Certificate of Incorporation, as Amended, and Third Amended and Restated Bylaws, as Amended

Removal of Directors; Vacancies

Our board of directors currently consists of seven directors. The exact number of directors will be fixed from time to time by resolution of the board. Any director may be removed, with or without cause, at any time by the affirmative vote of shares representing a majority of the shares then entitled to vote at an election of directors. Any vacancy occurring on the board of directors and any newly created directorship shall, unless the board calls a special meeting for which the election of directors is included as business or as otherwise required by law, be filled solely by a majority of the remaining directors in office.

No Cumulative Voting

The DGCL provides that stockholders are not entitled to the right to cumulate votes in the election of directors unless Alpha’s second amended and restated certificate of incorporation, as amended, provides otherwise. Alpha’s second amended and restated certificate of incorporation, as amended, prohibits cumulative voting.

Calling of Special Meetings of Stockholders

Alpha’s second amended and restated certificate of incorporation, as amended, and Alpha’s third amended and restated bylaws, as amended, provide that special meetings of Alpha’s stockholders may be called only by Alpha’s board of directors, subject to the rights of the holders of any series of preferred stock.

No Stockholder Action by Written Consent

Alpha’s second amended and restated certificate of incorporation, as amended, and Alpha’s third amended and restated bylaws, as amended, provide that any action required or permitted to be taken by Alpha’s stockholders must be effected by a duly called annual or special meeting of stockholders and may not be effected by any consent in lieu of a meeting of such stockholders, subject to the rights of the holders of any series of preferred stock.

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Advance Notice Requirements for Stockholder Proposals and Director Nominations

Alpha’s third amended and restated bylaws, as amended, provide that stockholders seeking to nominate candidates for election as directors or to bring business before an annual meeting of stockholders must provide timely notice of their proposal in writing to Alpha’s corporate secretary.

Generally, to be timely, a stockholder’s notice must be received at Alpha’s principal executive offices not less than 120 days nor more than 150 days prior to the first anniversary date of the date on which the Company first mailed its proxy materials for the previous year’s annual meeting. Alpha’s third amended and restated bylaws, as amended, also specify requirements as to the form and content of a stockholder’s notice. These provisions may impede stockholders’ ability to bring matters before an annual meeting of stockholders or make nominations for directors at an annual meeting of stockholders.

Amendments to Alpha’s Second Amended and Restated Certificate of Incorporation, as Amended, and Third Amended and Restated Bylaws, as Amended

Alpha’s second amended and restated certificate of incorporation, as amended, grants Alpha’s board of directors the authority to adopt, amend or repeal Alpha’s third amended and restated bylaws, as amended, without a stockholder vote in any manner not inconsistent with the laws of the State of Delaware. Alpha’s second amended and restated certificate of incorporation, as amended, and third amended and restated bylaws, as amended, may be amended by the affirmative vote of the holders of at least two-thirds of the shares of common stock.

Limitations on Liability and Indemnification of Officers and Directors

Alpha’s second amended and restated certificate of incorporation, as amended, provides that no director will be personally liable to Alpha or its stockholders for monetary damages for breach of fiduciary duty as a director, except as required by applicable law, as in effect from time to time. Currently, Delaware law requires that liability be imposed for the following:

						
	•	any breach of the director’s duty of loyalty to Alpha or its stockholders;
		
	•	any act or omission not in good faith or which involved intentional misconduct or a knowing violation of law;
		
	•	unlawful payments of dividends or unlawful stock repurchases or redemptions as provided in Section 174 of the Delaware General Corporation Law; and
		
	•	any transaction from which the director derived an improper personal benefit.

As a result, neither Alpha nor its stockholders have the right, through stockholders’ derivative suits on their behalf, to recover monetary damages against a director for breach of fiduciary duty as a director, including breaches resulting from grossly negligent behavior, except in the situations described above.

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Alpha’s second amended and restated certificate of incorporation, as amended, provides that, to the fullest extent permitted by law, Alpha will indemnify any officer or director of Alpha against all damages, claims and liabilities arising out of the fact that the person is or was Alpha’s director or officer, or served any other enterprise at Alpha’s request as a director, officer, employee, agent or fiduciary. Alpha will reimburse the expenses, including attorneys’ fees, incurred by a person indemnified by this provision when Alpha receives an undertaking to repay such amounts if it is ultimately determined that the person is not entitled to be indemnified by Alpha. Amending this provision will not reduce Alpha’s indemnification obligations relating to actions taken before an amendment.

Delaware Anti-Takeover Statute

Alpha is subject to Section 203 of the DGCL. Subject to specified exceptions, Section 203 prohibits a publicly held Delaware corporation from engaging in a “business combination” with an “interested stockholder” for a period of three years after the date of the transaction in which the person became an interested stockholder. “Business combinations” include mergers, asset sales and other transactions resulting in a financial benefit to the “interested stockholder.” Subject to various exceptions, an “interested stockholder” is a person who together with his or her affiliates and associates, owns, or within three years did own, 15% or more of the corporation’s outstanding voting stock. These restrictions generally prohibit or delay the accomplishment of mergers or other takeover or change-in-control attempts.

Exclusive Forum Provision of Alpha’s Third Amended and Restated Bylaws, as Amended

Under Alpha’s third amended and restated bylaws, as amended, to the fullest extent permitted by law and unless Alpha consents in writing to the selection of an alternative forum, the Court of Chancery of the state of Delaware will be the sole and exclusive forum for (i) any derivative action or proceeding brought on behalf of Alpha, (ii) any action asserting a claim of breach of a fiduciary duty owed by any Alpha director, officer or other employee to Alpha or its stockholders, (iii) any action asserting a claim arising pursuant to any provision of the DGCL or the Alpha charter (including any certificate of designations relating to any class or series of preferred stock) or the Alpha bylaws (in each case, as they may be amended from time to time), or (iv) any action asserting a claim governed by the internal affairs doctrine.

By limiting the ability of third parties and Alpha’s stockholders to file such lawsuits in the forum of their choosing, this exclusive forum provision could increase the costs to a plaintiff of bringing such a lawsuit and could have the effect of deterring such lawsuits, which could include potential takeover-related lawsuits.

Authorized but Unissued Capital Stock

The DGCL does not require stockholder approval for any issuance of authorized shares. However, the listing requirements of the New York Stock Exchange, which would apply so long as Alpha’s common stock is listed on the New York Stock Exchange, require stockholder approval of certain issuances equal to or exceeding 20% of the then-outstanding voting power or then-outstanding number of shares of common stock. These additional shares may be used for a variety of corporate purposes, including future public offerings, to raise additional capital or to facilitate acquisitions.

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One of the effects of the existence of unissued and unreserved common stock may be to enable Alpha’s board of directors to issue shares to persons friendly to current management, which issuance could render more difficult or discourage an attempt to obtain control of Alpha by means of a merger, tender offer, proxy contest or otherwise, and thereby protect the continuity of our management and possibly deprive the stockholders of opportunities to sell their shares of common stock at prices higher than prevailing market prices.

Transfer Agent and Registrar

Computershare Trust Company, N.A. is the transfer agent and registrar for Alpha’s common stock. 
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Exhibit 10.43

CONTURA ENERGY, INC.
AMENDED AND RESTATED
NON-EMPLOYEE DIRECTOR COMPENSATION POLICY

Amended November 17, 2020

This sets forth the Amended and Restated Non-Employee Director Compensation Policy (the “Policy”) of Contura Energy, Inc. (the “Company”), as adopted by the Board of Directors of the Company (the “Board”) effective as of May 1, 2020 (the “Effective Date”), and as amended on November 17, 2020.  Capitalized terms used but not otherwise defined herein shall have the meanings ascribed to such terms in the Contura Energy, Inc. Long-Term Incentive Plan (the “Plan”).
WHEREAS, the Board has determined that it is in the best interests of the Company to establish this Policy to set forth the compensation that will be payable to each member of the Board who is not an employee of the Company or of any subsidiary (each, an “Eligible Director”) as consideration for service on the Board.
NOW, THEREFORE, the Board hereby agrees as follows:
1.General.  The cash compensation and restricted stock unit awards described in this Policy will be paid or be made, as applicable, automatically and without further action of the Board, to each Eligible Director.  For the avoidance of doubt, any member of the Board who is not an Eligible Director will not be entitled to cash, equity or any other compensation in connection with service on the Board.
2.Annual Cash Compensation
a.Cash Retainer.  Each Eligible Director serving as a member of the Board will receive an annual cash retainer of $100,000 for service on the Board (the “Cash Retainer”) for the period beginning on May 1st of a given year and ending on April 30th of the following year (each such period, a “Compensation Year”).  An Eligible Director may elect, in accordance with procedures established by the Compensation Committee of the Board (the “Compensation Committee”), to receive one hundred percent (100%) of the Cash Retainer as a restricted stock unit award pursuant to the Plan with a Fair Market Value on the grant date equal to the Cash Retainer (the “Elective RSUs”).
b.Committee Chair Retainers.  Eligible Directors are entitled to receive additional annual cash compensation as set forth in this Section 2(b) for service as the chairperson of the Board, as a chairperson of a committee of the Board or as a non-chair committee member (collectively, the “Committee Retainers”).
(i)Chair Compensation. Each Eligible Director is entitled to additional annual cash compensation for service as a chairperson of the Board or of a committee of the Board for service during a Compensation Year, as set forth in the following table:
						
	Position	Annual Chair Compensation
	Non-Employee Chairman of the Board	$100,000
	Audit Committee Chair
	$30,000
	Lead Independent Director if Employee is Chairman of the Board	$20,000
	Compensation Committee Chair
	$20,000
	Safety, Health & Environmental Committee Chair	$15,000
	Nominating & Corporate Governance Committee Chair
	$12,000

(ii)Committee Member Compensation. Each Eligible Director who serves as a member of a committee of the Board in a non-chair capacity is entitled to additional annual cash 

    

compensation for each committee on which such director serves during a Compensation Year, as set forth in the following table:
						
	Committee Member	Annual Member Compensation
	Audit Committee	$10,000
	Compensation Committee	$10,000
	Safety, Health & Environmental Committee	$5,000
	Nominating & Corporate Governance Committee	$5,000

3.Payment Schedule for the Cash Retainer and Meeting Fees; Proration of Cash Retainer 
a.Payment Schedule.  The Cash Retainer for each Eligible Director will be paid by the Company in equal quarterly installments during the first calendar month of the Compensation Year quarter to which such amount relates.  
b.Acceleration / Proration of Cash Retainer.  With respect to any Compensation Year in which an Eligible Director’s service as a member of the Board is terminated as of a date that is more than six (6) months after the beginning of but prior to the completion of that Compensation Year for any reason other than death, disability or removal for cause, such Eligible Director will be entitled to receive any portion of the Eligible Director’s total Cash Retainer for that Compensation Year, including any Committee Retainer(s) that is unpaid  as of the effective date of termination, and this amount shall be paid to the Eligible Director not later than the last day of his or her service as a member of the Board (or, if there was not at least two business days’ advance notice regarding such termination, within two business days of such notice). In the event a new Eligible Director is elected or appointed to the Board following the beginning of a Compensation Year, such Eligible Director will be entitled to receive a Cash Retainer for such Compensation Year, which will be prorated based on the date of appointment or election and payable in accordance with the schedule set forth in Section 3(a).
c.New Annual Meeting Date.  Notwithstanding Sections 3(a) and 3(b), if the Company establishes a new annual meeting date (the “Annual Meeting Date”) which precedes the beginning of a Compensation Year by more than thirty (30) days or follows the beginning of a Compensation Year by more than seventy-five (75) days, the Compensation Year that is in effect as of such Annual Meeting Date shall be terminated, and each Eligible Director at the time of such Annual Meeting Date will be entitled to receive a prorated portion of the Cash Retainer for any partial quarter of service, payable during the calendar month immediately following such Annual Meeting Date. Effective as of the first Annual Meeting Date, the Compensation Year for purposes of the Policy shall be amended so that it commences on the Annual Meeting Date.    
4.Payment Schedule for Committee Retainers
a.Payment Schedule.  Each Eligible Director who is entitled to a Committee Retainer for service as the chairperson of the Board or on a Board committee during a Compensation Year will be paid such Committee Retainer in full during the first calendar month of such Compensation Year.  If an Eligible Director is appointed to a new position or committee at a time other than at the beginning of a Compensation Year, any Committee Retainer such Eligible Director is eligible to receive for the applicable Compensation Year as a result of such appointment will be paid in the calendar month immediately following the calendar month in which such appointment occurred.  
b.New Annual Meeting Date.  If the Company establishes an Annual Meeting Date which does not coincide with the beginning of a Compensation Year, each Eligible Director at the time of such 
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Annual Meeting Date will be paid any applicable Committee Retainer during the first calendar month of the Compensation Year that commences on such Annual Meeting Date, notwithstanding the fact that such Eligible Director may have received a Committee Retainer within the twelve (12) month period immediately preceding such Annual Meeting Date.
5.Equity Compensation
a.RSU Grants. Each Eligible Director serving as a member of the Board at the beginning of a Compensation Year will receive an annual grant of restricted stock units pursuant to the Plan with a Fair Market Value on the date of grant equal to $100,000 (the “Annual RSUs” and, together with any Elective RSUs held by the Eligible Director, the “RSUs”), beginning with the Compensation Year commencing on May 1, 2018.  The Annual RSUs will be granted to each Eligible Director as of the first day of the applicable Compensation Year. The RSUs will vest in full on the first to occur of (i) the day before the one-year anniversary of the date of grant (or, in the case of a new Eligible Director who is elected or appointed to the Board following the beginning of a Compensation Year, such other date as provided in the applicable Award Agreement), (ii) the Eligible Director's service as a member of the Board is terminated as of a date that is more than six (6) months after the beginning of but prior to the completion of that Compensation Year for any reason other than removal for cause, and (iii) a Change in Control, subject in each case to the Eligible Director's continuous service with the Company through such date.  Unless otherwise elected by an Eligible Director in a Non-Employee Director Restricted Stock Unit Election Form or otherwise provided in the applicable Award Agreement, the shares of the Company’s common stock or the Fair Market Value thereof (as determined pursuant to the applicable Award Agreement) in respect of vested RSUs will be delivered (or if settled in cash, will be paid) to the Eligible Director on the earlier of (A) the last day of his or her service as a member of the Board (or, if there was not at least two business days’ advance notice regarding such termination, within two business days of such notice on or within two (2) business), and (B) immediately prior to a Change in Control.  In the event a new Eligible Director is elected or appointed to the Board following the beginning of a Compensation Year, the Compensation Committee will have the authority to determine, in its sole discretion, whether such Eligible Director is eligible to receive, in connection with such election or appointment, an annual grant of RSUs (or a prorated portion thereof) or a special, one-time grant of  restricted stock units pursuant to the Plan. The applicable Award Agreement for a grant of restricted stock units will provide, as determined by the Committee in its sole discretion, whether such restricted stock units may be settled in cash or in shares of the Company’s common stock.  
New Annual Meeting Date. If the Company establishes an Annual Meeting Date which precedes the beginning of a Compensation Year by more than thirty (30) days or follows the beginning of a Compensation Year by more than seventy-five (75) days, each Eligible Director at the time of such Annual Meeting Date will receive a grant of Annual RSUs on the first date of the Compensation Year beginning on such Annual Meeting Date, which grant will be prorated to reflect that portion of the prior Compensation Year that would have overlapped with the Compensation Year that commences on such Annual Meeting Date.
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