Document:

Document

November 18, 2022

David J. Stetson
P.O. Box 848
Bristol, TN 37621

Dear David:

This letter confirms the agreement between you and Alpha Metallurgical Resources, Inc. (the “Company”) regarding your transition from Chief Executive Officer of the Company to Executive Chairman. Such transition will occur on the following terms and conditions:

•You hereby agree that your resignation as Chief Executive Officer of the Company will occur on December 31, 2022, and on January 1, 2023 you will assume the role of Executive Chairman. You will serve as Executive Chairman from that date until December 31, 2023, at which time your employment will terminate. You will then become Non-Executive Chairman on January 1, 2024 and serve in that capacity until April 30, 2024.
•You agree that the Amended and Restated Employment Agreement, dated January 26, 2021, as further amended, is hereby terminated as of December 31, 2022, and replaced with this agreement.
•As Executive Chairman, you will remain a fulltime employee of the Company and shall have such duties, responsibilities and authorities customarily associated with such position as approved by the Board of Directors. Your employment with the Company will continue to be “at will”, meaning that either you or the Company will be entitled to terminate your employment at any time, with or without cause, subject to the terms hereof; provided however, that the Company shall give sixty (60) days notice of termination if your employment is termination without cause.
•Your compensation as Executive Chairman will consist of the following components:
1.Base Salary: Effective January 1, 2023, you will receive an annual base salary of $800,000.00 pro-rated for any partial year of service as Executive Chairman.  Your base salary will be paid in accordance with the Company’s standard payroll practice.
2.Annual Bonus: You will be eligible to participate in the Company’s Annual Incentive Bonus (“AIB”) Plan, subject to the terms and conditions of such plan, with a target bonus opportunity of 100% of your annual base salary, and a maximum bonus opportunity of 200% of your annual base salary.
3.LTIP: You will be eligible to receive Long-Term Incentive Plan (LTIP) awards with an annual target award amount of 200% of your annual base salary, consisting of Performance Share Units and Restricted Share Units, in accordance with the Company’s Long-Term Incentive Plan.
    §    Future LTIP Grants. For the avoidance of doubt, subject to your continued service as Executive Chairman through the date of grant, you will be 

eligible to receive annual LTIP awards which awards will be subject to the terms and conditions of the Company’s Long-Term Incentive Plan (the “Plan”) and the applicable award agreements evidencing such awards. You will be eligible for pro-rated vesting under and pursuant to the terms of the applicable LTIP awards should your employment terminate prior to fully vesting in such awards.
    §    Outstanding LTIP Awards. You will continue to vest in your outstanding LTIP awards while servicing as Executive Chairman, subject to the terms and conditions of the Plan and the applicable award agreements.
4.Employment Benefits: You will remain eligible to participate in the employee benefit plans and programs offered to other employees of the Company, consistent with the terms thereof and as such plans and programs may be amended from time to time.
5.Company Vehicle: You will be entitled to the use of a Company vehicle in accordance with the Company’s vehicle-usage policies.
6.One-Time Equity Award:  In recognition of your performance as CEO and your generous waiver of your equity awards in 2021, the Board hereby grants a one-time equity award of 30,000 Restricted Stock Units, effective on the date hereof, with 10,000 shares to be vested on January 1, 2023, 10,000 shares to be vested on June 30, 2023, and 10,000 shares to be vested on December 31, 2023, provided, however, that upon your involuntary departure from the Board, all such shares shall immediately vest.
•You will serve as Executive Chairman until December 31, 2023 or your earlier removal or resignation. 
•The Board of Directors of the Company will nominate you for election to the Board at the 2023 Annual Meeting of Shareholders.
•The Company may withhold from any amounts payable to you hereunder all federal, state, city or other taxes or deductions that the Company reasonably determines are required to be withheld pursuant to any applicable law or regulation.

If this document correctly sets forth our agreement on the subject matter hereof, please sign and return to the Company the enclosed copy of this agreement which will then constitute our agreement on this matter.

    
                        
									
		Sincerely,
			
		ALPHA METALLURGICAL RESOURCES, INC.
			
		By:	/s/ Roger L. Nicholson

		Roger L. Nicholson
		Executive Vice President, Chief Administrative Officer, General Counsel & Secretary
			
	ACKNOWLEDGED AND ACCEPTED as
	of this 18th day of November, 2022
	/s/ David J. Stetson		
	David J. StetsonDocument

PRIVATE AND CONFIDENTIAL

The Directors
Mix Telematics Limited 
Ma

PRIVATE AND CONFIDENTIAL

The Directors
MiX Telematics Limited
Matrix Corner
Howick Close
Waterfall Park
Midrand
1682 

Attention: Paul Dell

												
	Date
	Direct telephone
number
	In reply please quote
our reference

	05 October 2022
	(011) 721-5872
	M Napo/ S Maharaj/ M Mashabela/ st
	

Dear Sirs

SECOND AMENDMENT TO EXISTING FACILITY LETTER

1.We, The Standard Bank of South Africa Limited (Registration Number 1962/000738/06) ("the Bank") refer to the facility letter from the Bank to Mix Telematics Limited (Registration Number: 1995/013858/06) ("the Customer") dated 21 February 2018, as amended, varied or supplemented from time to time ("the Facility Letter"). The Bank and the Customer (hereinafter collectively referred to as "the Parties") wish to amend the provisions of the Facility Letter as set out in this second amendment letter ("Second Amendment Letter"). 
2.Any definitions contained in the Facility Letter, shall apply mutatis mutandis to the provisions of this Second Amendment Letter unless the context indicates otherwise.
3.The amendments contained in this Second Amendment Letter which are, in the opinion of the Bank, for the benefit of the Customer, shall only become of force and effect upon the fulfilment to the satisfaction of the Bank of the following conditions precedent:
3.1.that together with this Second Amendment Letter, the Bank is furnished with a certified copy/ies of the supporting resolution/s in relation to this Second Amendment Letter along the lines of the enclosed specimen/s or in a format otherwise acceptable to the Bank;
3.2.that the Bank is satisfied that the borrowing powers of the Customer, each of the security providers and Additional Parties as provided for in their memorandum of incorporation or equivalent constitutional documents are unlimited, or alternatively that the Facilities are within the amount authorised by the Customer, each of the security providers and each of the Additional Parties in terms of their borrowing powers.
4.To the extent that the Bank allows the Customer to utilise the Facilities prior to the fulfilment of any or all the conditions precedent, the Customer shall be obliged to ensure that such conditions are fulfilled upon the Bank requiring the Customer to do so ("the Deferred Conditions").
5.The conditions precedent in paragraph 3 above is/are for the benefit of the Bank, which may waive any of the said conditions precedent in its sole discretion.
6.Subject to paragraph 4, with respect to any increase to Limit/s, the limit/s previously in place shall be applicable until such time as the said conditions precedent have been fulfilled, waived or become Deferred Conditions.
7.Upon the acceptance of this Second Amendment Letter by the Customer, each of the security providers and Additional Parties, and, in the case only of amendments which are, in the opinion of the Bank, for the benefit of the Customer, the fulfilment and/or waiver of the above conditions precedent, the Facility Letter shall be amended with effect from date of signature hereto ("the Effective Date"), by:

Standard Bank Centre 30 Baker Street Rosebank 2196 / PO Box 61690 Marshalltown 2107 South Africa / standardbank.co.za
Tel. Switchboard: +27 (0)11 721 9000 

			
	INITIALS

The Standard Bank of South Africa Limited (Reg. No. 1962/000738/06) Authorised financial services provider and registered credit provider (NCRCP15)

Directors: NMC Nyembezi (Chairman)   L Fuzile* (Chief Executive)   PLH Cook   A Daehnke*  
GJ Fraser-Moleketi   Xueqing Guan1   GMB Kennealy  BJ Kruger  Li Li1   JH Maree   
NNA Matyumza  KD Moroka   ML Oduor-Otieno2   ANA Peterside CON3   MJD Ruck   
SK Tshabalala*   JM Vice 

Company Secretary: Z Stephen - 2022/06/06

*Executive Director 1Chinese 2Kenyan 3Nigerian

Page 2 of 3

7.1.deleting the table of Limits in paragraph 1 of the Facility Letter and replacing it with the following table: 
"1.    The Facilities
						
	Nature of Facility	"Maximum Aggregate Limit"/ "Limit/s"

	Customer Foreign Currency Account Overdraft Facility for use by Mix Telematics International Proprietary Limited (Registration Number: 1963/006970/07) (“Mix Telematics International”)
(subject to paragraph 4.5 below)
	R   70 000 000

All amounts outstanding in excess of the above Maximum Aggregate Limits will become immediately due and payable on the Effective Date."
7.2.the deletion of paragraph 4.5 in its entirety and replacing it with a new paragraph 4.5 in the Facility Letter:
"4.5.    Customer Foreign Currency Account Overdraft Facility
4.5.1    Without prejudice to any of the Bank’s rights under paragraph 2 of Appendix A, 
Mix Telematics International shall be entitled to utilise a maximum amount of R70 000 000.00 (seventy million Rand) of the Maximum Aggregate Limit of the Working Capital Facility in the form of a customer foreign currency account overdraft facility (“CFC Overdraft Facility”). 
4.5.2    Mix Telematics International, whose domicilium address is: Blaauwklip Office Park 2, Corner Strand and Webersvallei Road, Stellenbosch, 7600, acknowledges that its utilisation of the CFC Overdraft Facility must at all times be in accordance with the provisions of sections E(B)(ii) and I.3 (C) of the Currency and Exchange Manual for Authorised Dealers of the South African Reserve Bank, as amended from time to time, and/or any applicable law, regulation and or policy pertaining thereto."
8.Save for the amendments referred to herein, the Facility Letter shall be unaltered and continues to be of full force and effect.
9.In the event of any ambiguity arising or conflict existing between the provisions of this Second Amendment Letter and the provisions of the Facility Letter, the provisions of this Second Amendment Letter shall prevail.
10.This Second Amendment Letter, once signed by the Parties, together with the Facility Letter, constitutes the whole agreement between the Parties in relation to the subject matter hereof and no variation or addition hereto, nor any consensual cancellation of the terms and conditions of this Second Amendment Letter shall be of any force or effect unless reduced to writing and signed by the Parties.
11.This Second Amendment Letter may be signed by the signatories hereto in counterparts and each signed copy shall together constitute one document.
12.Each provision of this Second Amendment Letter is severable, the one from the other and, if at any time any provision is or becomes or is found to be illegal, invalid, defective or unenforceable for any reason by any competent court, the remaining provisions shall be of full force and effect and shall continue to be of full force and effect.
13.To indicate your acceptance of the aforegoing, kindly initial each page of the attached duplicate of this Second Amendment Letter (including any appendices hereto), sign the acknowledgement on the final page of this Second Amendment Letter and return same to the Bank on or before, 15 November 2022, when the offer to amend the Facility Letter as contained in this Second Amendment Letter expires ("the Expiry Date"). This Amendment Letter shall be of no force and effect unless and until it is signed by the Parties on or before the Expiry Date. 

Yours faithfully 

Signature: ________________________

Name: Mpho Napo

Designation: Client Coverage Manager 
			
	INITIALS

Page 3 of 3

TERMS AND CONDITIONS ACCEPTED

SIGNED AT _____________________________ ON _________________________ 2022.
For:    Mix Telematics Limited (Registration Number: 1995/013858/06)

_______________________________________________    
Duly authorised hereto

Name:        __________________________________    

Designation:    __________________________________    

SIGNED AT _____________________________ ON _________________________ 2022.

For:    Mix Telematics Limited (Registration Number: 1995/013858/06)

_______________________________________________    
Duly authorised hereto

Name:        __________________________________    

Designation:    __________________________________

TERMS AND CONDITIONS ACCEPTED

SIGNED AT _____________________________ ON _________________________ 2022.

For:    Mix Telematics International Proprietary Limited (Registration Number: 1963/006970/07)

_______________________________________________    
Duly authorised hereto

Name:        __________________________________    

Designation:    __________________________________    

SIGNED AT _____________________________ ON _________________________ 2022.

For:    Mix Telematics International Proprietary Limited (Registration Number: 1963/006970/07)

_______________________________________________    
Duly authorised hereto

Name:        __________________________________    

Designation:    __________________________________    

			
	INITIALS

			
	INITIALS

Standard Bank Centre 30 Baker Street Rosebank 2196 / PO Box 61690 Marshalltown 2107 South Africa / standardbank.co.za
Tel. Switchboard: +27 (0)11 721 9000 

			
	INITIALS

The Standard Bank of South Africa Limited (Reg. No. 1962/000738/06) Authorised financial services provider and registered credit provider (NCRCP15)

Directors: NMC Nyembezi (Chairman)   L Fuzile* (Chief Executive)   PLH Cook   A Daehnke*  
GJ Fraser-Moleketi   Xueqing Guan1   GMB Kennealy  BJ Kruger  Li Li1   JH Maree   
NNA Matyumza  KD Moroka   ML Oduor-Otieno2   ANA Peterside CON3   MJD Ruck   
SK Tshabalala*   JM Vice 

Company Secretary: Z Stephen - 2022/06/06

*Executive Director 1Chinese 2Kenyan 3Nigerian

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00350-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00350-of-00352.parquet"}]]