Document:

Exhibit 10.13

 Exhibit 10.13 
 THIS WARRANT AND THE SECURITIES ISSUABLE UPON EXERCISE HEREOF HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, APPLICABLE STATE SECURITIES LAWS, OR APPLICABLE LAWS OF ANY FOREIGN JURISDICTION. THIS WARRANT AND SUCH
UNDERLYING SECURITIES HAVE BEEN ACQUIRED FOR INVESTMENT AND NOT WITH A VIEW TO DISTRIBUTION OR RESALE, AND MAY NOT BE OFFERED, SOLD, PLEDGED, HYPOTHECATED, RENOUNCED OR OTHERWISE TRANSFERRED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT
UNDER THE SECURITIES ACT AND ANY APPLICABLE STATE SECURITIES LAWS AND IN THE ABSENCE OF COMPLIANCE WITH APPLICABLE LAWS OF ANY FOREIGN JURISDICTION, OR THE AVAILABILITY OF AN EXEMPTION FROM THE REGISTRATION PROVISIONS OF THE SECURITIES ACT OF 1933,
AS AMENDED, AND APPLICABLE STATE SECURITIES LAWS. 
 ALDAGEN, INC. 
 AMENDED AND RESTATED PREFERRED STOCK PURCHASE
WARRANT 
 This Amended and Restated Preferred Stock Purchase
Warrant (the “Warrant”) is issued as of this the 15th day of December, 2006, by ALDAGEN, INC., a
Delaware corporation (the “Company”), to
                                        ,
or permitted assigns (the “Holder”). 
 1. Issuance of Warrant; Term; Price. 
 1.1. Issuance. In consideration of the funding of a loan in the amount of
$                (the “Loan”), which Loan converted into shares of the Company’s Series C Preferred Stock, $0.001 par value per share (the
“Series C Preferred Stock”) on December 15, 2006, the Company hereby grants to Holder the right to subscribe and purchase                 
shares of Series C Preferred Stock. The shares of securities for which this Warrant may be exercisable from time to time shall be referred to herein as the “Warrant Stock”. This Warrant amends and restates and replaces and
supersedes in their entirety those certain Preferred Stock Purchase Warrants previously granted to Holder on                 . 
 1.2 Exercisability. This Warrant shall become exercisable for Warrant Stock on December 15, 2006 (the “Exercise Commencement
Date”). 
 1.3 Term. The shares of Warrant Stock issuable upon exercise of this Warrant are hereinafter referred to as the
“Shares.” This Warrant shall be exercisable at any time and from time to time in whole or in part from the Exercise Commencement Date until the date five (5) years from such date. 
 1.4 Exercise Price. Subject to adjustment as hereinafter provided, the exercise price (the “Warrant Price”) per share for which
all or any of the Shares may be purchased pursuant to the terms of this Warrant shall be equal to $0.7278 per share, as adjusted for stock splits, stock dividends, recapitalizations and similar events. 
 2. Adjustment of Warrant Price, Number and Kind of Shares. The Warrant Price and the number and kind of securities issuable upon the exercise of
this Warrant shall be subject to adjustment from time to time, and the Company agrees to provide ten (10) days written notice upon the happening of certain events, as follows. 
  

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 2.1. Dividends in Stock Adjustment. In case at any time or from time to time on or after the date
hereof the holders of the Series C Preferred Stock of the Company (or any shares of stock or other securities at the time receivable upon the exercise of this Warrant) shall have received, or, on or after the record date fixed for the determination
of eligible stockholders, shall have become entitled to receive, without payment therefor, other or additional securities or other property (other than cash) of the Company by way of dividend or distribution (except for distributions specifically
provided for below in Section 2.3) then, and in each case, the holder of this Warrant shall, upon the exercise hereof, be entitled to receive, in addition to the number of shares of Warrant Stock receivable thereupon, and without payment of any
additional consideration therefor, the amount of such other or additional securities or other property (other than cash) of the Company which such holder would hold on the date of such exercise had it been the holder of record of such stock on the
date hereof and had thereafter, during the period from the date hereof to and including the date of such exercise, retained such shares and/or all other additional securities or other property receivable by it as aforesaid during such period, giving
effect to all adjustments called for during such period by this Section 2. 
 2.2. Reclassification or Reorganization Adjustment.
In case of any changes in the class or kind of securities issuable upon exercise of this Warrant or any reclassification or change of the outstanding securities of the Company or of any reorganization of the Company (or any other corporation the
stock or securities of which are at the time receivable upon the exercise of this Warrant) on or after the date hereof, then and in each such case the Company shall give the holder of this Warrant at least twenty (20) days notice of the
proposed effective date of such transaction, and the holder of this Warrant, upon the exercise hereof at any time after the consummation of such reclassification, change or reorganization, shall be entitled to receive, in lieu of the stock or other
securities and property receivable upon the exercise hereof prior to such consummation, the stock or other securities or property to which such holder would have been entitled upon such consummation if such holder had exercised this Warrant
immediately prior thereto, and the Warrant Price therefore shall be appropriately adjusted, all subject to further adjustment as provided in this Section 2. 
 2.3. Stock Splits and Reverse Stock Splits. If at any time on or after the date hereof the Company shall split, subdivide or otherwise change its outstanding shares of any securities receivable upon exercise of
this Warrant into a greater number of shares, the Warrant Price in effect immediately prior to such subdivision shall thereby be proportionately reduced and the number of shares receivable upon exercise of this Warrant shall thereby be
proportionately increased; and, conversely, if at any time on or after the date hereof the outstanding number of shares of any securities receivable upon exercise of this Warrant shall be combined into a smaller number of shares, the Warrant Price
in effect immediately prior to such combination shall thereby be proportionately increased and the number of shares receivable upon exercise of this Warrant shall thereby be proportionately decreased, all subject to further adjustment as provided in
this Section 2. 
  

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 2.4. Conversion or Redemption of Warrant Stock. If at the time of any exercise of this Warrant
there are no other shares of shares of Warrant Stock that would otherwise be receivable upon exercise of this Warrant (such shares having been converted or redeemed), this Warrant shall be exercisable for Common Stock in the same amounts, for the
same prices and on the same terms, as though the Warrant had been exercised for shares of the Warrant Stock and immediately converted into shares of Common Stock. 
 2.5 Other Impairment. The Company will not, by amendment of its Certificate of Incorporation or Bylaws or through any reorganization, transfer of assets, consolidation, merger, dissolution, issue or sale of
securities or any other voluntary action, avoid or seek to avoid the observance or performance of any of the terms of this Warrant, but will at all times in good faith assist in the carrying out of all such terms and conditions and in the taking of
all such action as may be necessary or appropriate in order to protect the rights of the holder against impairment. 
 3. No Fractional
Shares. No fractional shares of Warrant Stock will be issued in connection with any subscription hereunder. In lieu of any fractional shares that would otherwise be issuable, the Company shall pay cash equal to the product of such fraction
multiplied by the fair market value of one share of Warrant Stock on the date of exercise, as determined in good faith by the Company’s Board of Directors. 
 4. No Stockholder Rights. This Warrant as such shall not entitle its holder to any of the rights of a stockholder of the Company until the holder has exercised this Warrant in accordance with Section 6 or
Section 7 hereof. 
 5. Reservation of Stock. The Company covenants that during the period this Warrant is exercisable, the
Company will reserve from its authorized and unissued Warrant Stock a sufficient number of shares to provide for the issuance of Warrant Stock upon the exercise of this Warrant. The Company agrees that its issuance of this Warrant shall constitute
full authority to its officers who are charged with the duty of executing stock certificates to execute and issue the necessary certificates for shares of Warrant Stock upon the exercise of this Warrant. 
 6. Exercise of Warrant. This Warrant may be exercised by Holder by the surrender of this Warrant at the principal office of the Company,
accompanied by payment in full of the purchase price of the shares purchased thereby, as described above. This Warrant shall be deemed to have been exercised immediately prior to the close of business on the date of its surrender for exercise as
provided above, and the person or entity entitled to receive the shares or other securities issuable upon such exercise shall be treated for all purposes as the holder of such shares of record as of the close of business on such date. As promptly as
practicable, the Company shall issue and deliver to the person or entity entitled to receive the same a certificate or certificates for the number of full shares of Warrant Stock issuable upon such exercise, together with cash in lieu of any
fraction of a share as provided above. The shares of Warrant Stock issuable upon exercise hereof shall, upon their issuance, be fully paid and nonassessable. If this Warrant shall be exercised in part only, the Company shall, at the time of delivery
of the certificate representing the Shares or other securities in respect of which this Warrant has been 

  

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exercised, deliver to the Holder a new Warrant evidencing the right to purchase the remaining Shares or other securities purchasable under this Warrant,
which new warrant shall, in all other respects, be identical to this Warrant. 
 7. Net Issue Election. 
 7.1. Right to Convert. In addition to and without limiting the rights of the Holder under the terms of this Warrant, the Holder shall have the
right to convert this Warrant or any portion hereof (the “Conversion Right”) into shares of Common Stock or Warrant Stock as provided in this Section 7. Upon exercise of the Conversion Right with respect to a particular number
of shares subject to this Warrant (the “Converted Warrant Shares”), the Company shall deliver to the Holder (without payment by the Holder of any cash or other consideration) that number of shares of Common Stock or Warrant Stock
equal to the quotient obtained by dividing (x) the value of this Warrant (or the specified portion hereof) on the Conversion Date (as defined in subsection 7.2 hereof), which value shall be determined by subtracting (A) the aggregate
Warrant Price of the Converted Warrant Shares immediately prior to the exercise of the Conversion Right from (B) the aggregate fair market value of the Converted Warrant Shares issuable upon exercise of this Warrant (or the specified portion
hereof) on the Conversion Date (as herein defined) by (y) the fair market value of one share of Warrant Stock on the Conversion Date (as herein defined). No fractional shares shall be issuable upon exercise of the Conversion Right, and if the
number of shares to be issued determined in accordance with the foregoing formula is other than a whole number, the Company shall pay to the Holder an amount in cash equal to the fair market value of the resulting fractional share on the Conversion
Date (as herein defined). 
 7.2. Method of Exercise. The Conversion Right may be exercised by the Holder by the surrender of this
Warrant at the principal office of the Company together with a written statement specifying that the Holder thereby intends to exercise the Conversion Right and indicating the number of shares subject to this Warrant that are being surrendered
(referred to in subsection 7.1 hereof as the Converted Warrant Shares) in exercise of the Conversion Right. Such conversion shall be effective upon such surrender of this Warrant (the “Conversion Date”). Certificates for the shares
of Common Stock or Warrant Stock issuable upon exercise of the Conversion Right (or any other securities deliverable in lieu thereof under Section 2) shall be issued as of the Conversion Date and shall be delivered to the Holder immediately
following the Conversion Date, or, if requested at the time of surrender of this Warrant, held for pick-up by the Holder at the Company’s principal office. 
 7.3. Determination of Fair Market Value. For purposes of this Section 7, fair market value (the “Market Price”) of a share of Common Stock or Warrant Stock as of a particular date (the
“Determination Date”) shall mean the average of the closing prices of such security’s sales on the principal securities exchanges on which such security may at the time be listed, or, if there has been no sales on any such
exchange on any day, the average of the highest bid and lowest asked prices on all such exchanges at the end of such day, or, if on any day such security is not so listed, the average of the last sale prices quoted in the Nasdaq System, or if on any
day such security is not quoted in the Nasdaq System, the average of the highest bid and lowest asked prices on such day in the domestic over-the-counter market as reported by the National Quotation Bureau, Incorporated, or any similar successor
organization, in each such 

  

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case averaged over a period of five (5) days consisting of the day prior to the day as of which “Market Price” is being determined and the
five (5) consecutive business days prior to such day. If at any time such security is not listed on any securities exchange or quoted in the Nasdaq System or the over-the-counter market, the “Market Price” shall be the fair value
thereof as determined in good faith by the Company’s Board of Directors. 
 8. Certificate of Adjustment. Whenever the Warrant
Price or number or type of securities issuable upon exercise of this Warrant is adjusted, as herein provided, the Company shall promptly deliver to the record holder of this Warrant a certificate of an officer of the Company setting forth the nature
of such adjustment and a brief statement of the facts requiring such adjustment. 
 9. Notice of Proposed Transfers. This Warrant is
transferable by the Holder hereof subject to compliance with this Section 9. Prior to any proposed transfer of this Warrant or the shares of Warrant Stock received on the exercise of this Warrant (the “Securities”), unless
there is in effect a registration statement under the Securities Act of 1933, as amended (the “Securities Act”), covering the proposed transfer, the Holder thereof shall give written notice to the Company of such Holder’s
intention to effect such transfer. Each such notice shall describe the manner and circumstances of the proposed transfer in sufficient detail, and shall, if the Company so requests, be accompanied (except in transactions in compliance with Rule 144)
by either (i) an unqualified written opinion of legal counsel who shall be reasonably satisfactory to the Company addressed to the Company and reasonably satisfactory in form and substance to the Company’s counsel, to the effect that the
proposed transfer of the Securities may be effected without registration under the Securities Act and any applicable state securities laws, or (ii) a “no action” letter from the Securities Exchange Commission (the
“Commission”) to the effect that the transfer of such Securities without registration will not result in a recommendation by the staff of the Commission that action be taken with respect thereto, whereupon the Holder of the
Securities shall be entitled to transfer the Securities in accordance with the terms of the notice delivered by the Holder to the Company; provided, however, no such registration statement or opinion of counsel shall be necessary for a
transfer by a Holder to any affiliate of such Holder, or a transfer by a Holder which is a partnership to a partner of such partnership or a retired partner of such partnership who retires after the date hereof, or to the estate of any such partner
or retired partner or the transfer by gift, will or intestate succession of any partner to his spouse or lineal descendants or ancestors, if the transferee agrees in writing to be subject to the terms hereof to the same extent as if such transferee
were the original Holder hereunder. Each certificate evidencing the Securities transferred as above provided shall bear the appropriate restrictive legend set forth above, except that such certificate shall not bear such restrictive legend if in the
opinion of counsel for the Company such legend is not required in order to establish compliance with any provisions of the Securities Act. 
 10. Replacement of Warrants. Upon receipt by the Company of evidence reasonably satisfactory to the Company of the loss, theft, destruction or mutilation of the Warrant, and in the case of any such loss, theft or destruction of the
Warrant, on delivery of an indemnity agreement or security reasonably satisfactory in form and amount to the Company, and reimbursement to the Company of all reasonable expenses incidental thereto, and upon surrender and cancellation of the Warrant
if mutilated, the Company will execute and deliver, in lieu thereof, a new Warrant of like tenor. 
  

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 11. Miscellaneous. This Warrant shall be governed by the laws of the State of North Carolina. The
headings in this Warrant are for purposes of convenience of reference only, and shall not be deemed to constitute a part hereof. The invalidity or unenforceability of any provision hereof shall in no way affect the validity or enforceability of any
other provisions. All notices and other communications from the Company to the holder of this Warrant shall be given in writing and shall be deemed effectively given as provided in the Note and Warrant Purchase Agreement among the Company, the
Holder and the Purchasers listed therein, dated March 23, 2005 (the “Purchase Agreement”). 
 12. Taxes. The
Company shall pay all issue taxes and other governmental charges (but not including any income taxes of a Holder) that may be imposed in respect of the issuance or delivery of the Shares or any portion thereof. 
 13. Amendment. Any term of this Warrant may be amended or waived with the written consent of the Company and the holders of Warrants representing
a majority of the shares of Warrant Stock issuable upon exercise of the then outstanding unexercised warrants issued under the Purchase Agreement (the “Bridge Warrants”); provided, however, that any such amendment or
waiver that disproportionately affects any of the holders of the then outstanding unexercised Bridge Warrants shall require the written consent of all such holders. Any amendment or waiver effected in accordance with this Section 13 shall be
binding upon each holder of any Bridge Warrant, each future holder of all such Bridge Warrants and the Company, and the Company shall promptly give notice to all holders of outstanding Bridge Warrants of any amendment or waiver effected in
accordance with this Section 13. 
 14. Remedies. In the event of any default or threatened default by the Company in the
performance of or observance with any of the terms of this Warrant, it is agreed that remedies at law are not and will not be adequate for the Holder and that such terms may be specifically enforced by a decree for the specific performance of any
agreement contained herein or by an injunction against a violation of any of the terms hereof or otherwise. 
 15. Facsimile
Signature. This Warrant may be executed by the Company in facsimile form and upon receipt by the Holder of such faxed executed copy of this Warrant, this Warrant shall be binding upon and enforceable against the Company in accordance with its
terms. The Company shall promptly forward to the Holder an original of the facsimile signed copy of this Warrant previously delivered to Holder. 
 16. Qualifying Public Offering. If the Company shall effect a firm commitment underwritten public offering of shares of Common Stock which results in the conversion of the Preferred Stock into Common Stock pursuant to the
Company’s Certificate of Incorporation in effect immediately prior to such offering, then, effective upon such conversion, this Warrant shall change from the right to purchase shares of Series C Preferred Stock to the right to purchase shares
of Common Stock, and the Holder shall thereupon have the right to purchase, at a total price equal to that payable upon the exercise of this Warrant in full, the number of shares 

  

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of Common Stock which would have been receivable by the Holder upon the exercise of this Warrant for shares of Series C Preferred Stock immediately prior to
such conversion of such shares of Series C Preferred Stock into shares of Common Stock, and in such event appropriate provisions shall be made with respect to the rights and interest of the Holder to the end that the provisions hereof (including,
without limitation, the provisions for the adjustment of the Purchase Price and of the number of shares purchasable upon exercise of this Warrant and the provisions relating to the net issue election) shall thereafter be applicable to any shares of
Common Stock deliverable upon the exercise hereof. 
 [THE NEXT PAGE IS THE SIGNATURE PAGE] 
  

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 IN WITNESS WHEREOF, the undersigned officer of the Company has set his hands as of the date first above
written. 
  

			
	ALDAGEN, INC.
		
	By:	 	  

	Name:	 	Edward L. Field
	Title:	 	President and Chief Operating Officer

  

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 ALDAGEN, INC. 
 AMENDED AND RESTATED SERIES C WARRANTS 
 The Series C Preferred Stock Purchase Warrants represented
by this form are substantially identical in all material respects except as to the details below. Accordingly, pursuant to Instruction 2 to Item 601(b) of Regulation S-K, we have filed the form of warrant herewith. 
  

											
	Name	  	Number of      
Exercise      
Shares      	 	  	Amount of        
Loan
        	 	  	Date(s) of Previous      
Warrant(s)      
Superseded      	 
	 Aurora Enrichment Fund, LLC
	  	205,792	  	  	$	599,101.35	  	  	March 23, 2005	  
	 Harbinger/Aurora Venture Fund, L.L.C.
	  	42,081	 	  	$	122,507.54	 	  	November 1, 2005	 
	 Harbinger/Aurora QP Venture Fund,
L.L.C.
	  	60,814	 	  	$	177,043.13	 	  	November 1, 2005	 
	 W. Lowry Caudill
	  	30,869	 	  	$	89,865.20	 	  	March 23, 2005 and November 1, 2005
	   

	 Alfred G. Childers
	  	30,869	 	  	$	89,865.20	 	  	April 6, 2005 and November 1, 2005
	   

	 Intersouth Affiliates V, L.P.
	  	26,986	 	  	$	78,561.96	 	  	March 23, 2005 and November 1, 2005
	   

	 Intersouth Partners V. L.P.
	  	590,390	 	  	$	1,718,742.09	 	  	March 23, 2005 and November 1, 2005
	   

	 Jonathan M. Lawrie
	  	12,366	 	  	$	36,000.00	 	  	March 23, 2005 and November 1, 2005
	   

	 Piedmont Angel Network LLC
	  	40,901	 	  	$	119,071.39	 	  	March 23, 2005 and November 1, 2005
	   

	 Tall Oaks StemCo Partners, LP
	  	36,014	 	  	$	104,843.49	 	  	March 23, 2005 and November 1, 2005
	   

	 The Trelys Funds, L.P.
	  	231,516	 	  	$	673,989.02	 	  	April 6, 2005 and November 1, 2005
	   

	 Village Venture Partners Fund,
L.P.
	  	16,739	 	  	$	48,730.30	 	  	March 23, 2005 and November 1, 2005
	   

	 Village Venture Partners Fund A,
L.P.
	  	1,268	 	  	$	3,690.31	 	  	March 23, 2005 and November 1, 2005
	   

  

 9Federal Coal Lease WYW 155132: Eagle Butte Mine

 EXHIBIT 10.1 
  

					
	 Form 3400-12
	 		 	FORM APPROVED
	 (April 2007)
	 	UNITED STATES	 	OMB NO.1004-0073
		 	DEPARTMENT OF THE INTERIOR	 	Expires: March 31, 2010
		 	BUREAU OF LAND MANAGEMENT	 	
		 		 	Serial No.
		 	COAL LEASE	 	
			
		 		 	WYW155132

 PART 1: LEASE RIGHTS GRANTED 
 This lease, entered into by and between the UNITED STATES OF AMERICA, hereinafter called lessor, through the Bureaus of Land Management (BLM), and (Name and Address): 
 Foundation Wyoming Land Company 
 P.O. Box
3039 
 Gillette, Wyoming 82717-3039 
 hereinafter called lessee, is effective (date) 5 /01 /2008 , for a period of 20 years and for so long thereafter
as coal is produced in commercial quantities from the leased lands, subject to readjustment of lease terms at the end of the 20th lease year and
each 10-year period thereafter. 
 SEC. 1. This lease is issued pursuant and subject to the terms and provisions of the: 
  

	x	Mineral Lands Leasing Act of 1920, Act of February 25, 1920, as amended, 41 Stat. 437, 30 U.S.C. 181-287, hereinafter referred to as the Act; 

  

	 ̈	Mineral Leasing Act for Acquired Lands, Act of August 7, 1947, 61 Stat. 913, 30 U.S.C. 351-359; and to the regulations and formal order of the Secretary of the Interior which
are now or hereafter in force, when not inconsistent with the express and specific provisions herein. 

 SEC. 2. Lessor, in consideration of
any bonuses, rents, and royalties to be paid, and the conditions and covenants to be observed as herein set forth, hereby grants and leases to lessee the exclusive right and privilege to drill for, mine, extract, remove, or otherwise process and
dispose of the coal deposits in, upon, or under the following described lands: 
 T.51
N., R. 72 W., 6th P.M., Wyoming 
 Sec.
19: Lots 13, 14, 19, and 20; 
 Sec. 20: Lots 10 (NW  1
/4 and S  1/2) and 11 through 15;

 Sec. 29: Lots 1 (W  1/2), 2 through 7, 8 (W  1/2 and SE  1/4), and 9 through 16; 
 Sec. 30: Lots 5, 6, 11 through 14, 19, and 20. 
 containing 1,427.77 acres, more or less, together with the right to
construct such works, buildings, plants, structures, equipment and appliances and the right to use such on-lease rights-of-way which may be necessary and convenient in the exercise of the rights and privileges granted, subject to the conditions
herein provided. 
 PART II. TERMS AND CONDITIONS 
 Sec. 1.
(a) RENTAL RATE –Lessee must pay lessor rental annually and in advance for each acre or fraction thereof during the continuance of the lease at the rate of $3.00 for each lease year. 
 (b) RENTAL CREDITS – Rental will not be credited against either production or advance royalties for any year. 
 Sec. 2. (a) PRODUCTION ROYALTIES – The royalty will be 12.5 percent of the value of the coal as set forth in the regulations. Royalties are due to lessor the
final day of the month succeeding the calendar month in which the royalty obligation accrues. 
 (b) ADVANCE ROYALTIES – Upon request by the lessee, the
BLM may accept, for a total of not more than 10 years,* the payment of advance royalties in lieu of continued operation, consistent with the regulations. The advance royalty will be based on a percent of the value of a minimum
number of tons determined in the manner established by the advance royalty regulations in effect at the time the lessee requests approval to pay advance royalties in lieu of continued operation. 
 *20 years [Public Law 109-58] 
 SEC. 3. BONDS – Lessee must maintain in
the proper office a lease bond in the amount of $5,000.00. The BLM may require an increase in this amount when additional coverage is determined appropriate. 
 SEC. 4. DILIGENCE – This lease is subject to the conditions of diligent development and continued operation, except that these conditions are excused when operation under the lease are interrupted by strikes, the elements, or
casualties not attributable to the lessee. The lessor, in the public interest, may suspend the condition of continued operation upon payment of advance royalties in accordance with the regulations in existence at the time of the suspension.
Lessee’s failure to produce coal in commercial quantities at the end of 10 years will terminate the lease. Lessee must submit an operation and reclamation plan pursuant to Section 7 of the Act not later than 3 years after lease issuance.

 The lessor reserves the power to assent to or order the suspension of the terms and conditions of this lease in accordance with, inter alia,
Section 39 of the Mineral Leasing Act, 30 U.S.C. 209. 
 SEC 5. LOGICAL MINING UNIT (LMU) – Either upon approval by the lessor of the lessee’s
application or at the direction of the lessor, this lease will become an LMU or part of an LMU, subject to the provisions set forth in the regulations. 
 The stipulations established in an LMU approval in effect at the time of LMU approval will supersede the relevant inconsistent terms of this lease so long as the lease remains committed to the LMU. If the LMU of which this lease is a part
is dissolved, the lease will then be subject to the lease terms which would have been applied if the lease had not been included in an LMU. 
 (Continued on
page 2) 

 WYW155132 
 Page 2 of 9 
 SEC 6. DOCUMENTS, EVIDENCE AND INSPECTION – At such times and in such form as lessor may prescribe,
lessee must furnish detailed statements showing the amounts and quality of all products removed and sold from the lease, the proceeds therefrom, and the amount used for production purposes or unavoidably lost. 
 Lessee must keep open at all reasonable times for the inspection by BLM the leased premises and all surface and underground improvements, works, machinery, ore
stockpiles, equipment, and all books, accounts, maps, and records relative to operations, surveys, or investigations on or under the leased lands. 
 Lessee
must allow lessor access to and copying of documents reasonably necessary to verify lessee compliance with terms and conditions of the lease. 
 While this
lease remains in effect, information obtained under this section will be closed to inspection by the public in accordance with the Freedom of Information Act (5 U.S.C. 552). 
 SEC. 7. DAMAGES TO PROPERTY AND CONDUCT OF OPERATIONS – Lessee must comply at its own expense with all reasonable orders of the Secretary, respecting diligent operations, prevention of waste, and protection of
other resources. 
 Lessee must not conduct exploration operations, other than casual use, without an approved exploration plan. All exploration plans prior
to the commencement of mining operations within an approved mining permit area must be submitted to the BLM. 
 Lessee must carry on all operations in
accordance with approved methods and practices as provided in the operating regulations, having due regard for the prevention of injury to life, health, or property, and prevention of waste, damage or degradation to any land, air, water, cultural,
biological, visual, and other resources, including mineral deposits and formations of mineral deposits not leased hereunder, and to other land uses or users. Lessee must take measures deemed necessary by lessor to accomplish the intent of this lease
term. Such measures may include, but are not limited to, modification to proposed siting or design of facilities, timing of operations, and specification of interim and final reclamation procedures. Lessor reserves to itself the right to lease,
sell, or otherwise dispose of the surface or other mineral deposits in the lands and the right to continue existing uses and to authorize future uses upon or in the leased lands, including issuing leases for mineral deposits not covered hereunder
and approving easements or rights-of-way. Lessor must condition such uses to prevent unnecessary or unreasonable interference with rights of lessee as may be consistent with concepts of multiple use and multiple mineral development. 
 SEC. 8. PROTECTION OF DIVERSE INTERESTS, AND EQUAL OPPORTUNITY – Lessee must: pay when due all taxes legally assessed and levied under the laws of the State or the
United States; accord all employees complete freedom of purchase; pay all wages at least twice each month in lawful money of the United States; maintain a safe working environment in accordance with standard industry practices; restrict the workday
to not more than 8 hours in any one day for underground workers, except in emergencies; and take measures necessary to protect the health and safety of the public. No person under the age of 16 years should be employed in any mine below the surface.
To the extent that laws of the State in which the lands are situated are more restrictive than the provisions in this paragraph, then the State laws apply. 
 Lessee will comply with all provisions of Executive Order No. 11246 of September 24, 1965, as amended, and the rules, regulations, and relevant orders of the Secretary of Labor. Neither lessee nor lessee’s subcontractors
should maintain segregated facilities. 
 SEC. 9. (a) TRANSFERS 
  

	x	This lease may be transferred in whole or in part to any person, association or corporation qualified to hold such lease interest. 

  

	 ̈	This lease may be transferred in whole or in part to another public body or to a person who will mine coal on behalf of, and for the use of, the public body or to a person who for
the limited purpose of creating a security interest in favor of a lender agrees to be obligated to mine the coal on behalf of the public body. 

  

	 ̈	This lease may only be transferred in whole or in part to another small business qualified under 13 CFR 121. 

 Transfers of record title, working or royalty interest must be approved in accordance with the regulations. 
 (b) RELINQUISHMENT – The lessee may relinquish in writing at any time all rights under this lease or any portion thereof as provided in the regulations. Upon
lessor’s acceptance of the relinquishment, lessee will be relieved of all future obligations under the lease or the relinquished portion thereof, whichever is applicable. 
 SEC. 10. DELIVERY OF PREMISES, REMOVAL OF MACHINERY, EQUIPMENT, ETC. – At such time as all portions of this lease are returned to lessor, lessee must deliver up to lessor the land leased, underground timbering,
and such other supports and structures necessary for the preservation of the mine workings on the leased premises or deposits and place all workings in condition for suspension or abandonment. Within 180 days thereof, lessee must remove from the
premises all other structures, machinery, equipment, tools, and materials that it elects to or as required by the BLM. Any such structures, machinery, equipment, tools, and materials remaining on the leased lands beyond 180 days, or approved
extension thereof, will become the property of the lessor, but lessee may either remove any or all such property or continue to be liable for the cost of removal and disposal in the amount actually incurred by the lessor. If the surface is owned by
third parties, lessor will waive the requirement for removal, provided the third parties do not object to such waiver. Lessee must, prior to the termination of bond liability or at any other time when required and in accordance with all applicable
laws and regulations, reclaim all lands the surface of which has been disturbed, dispose of all debris or solid waste, repair the offsite and onsite damage caused by lessee’s activity or activities incidental thereto, and reclaim access roads
or trails. 
 SEC. 11. PROCEEDINGS IN CASE OF DEFAULT – If lessee fails to comply with applicable laws, existing regulations, or the terms, conditions
and stipulations of this lease, and the noncompliance continues for 30 days after written notice thereof, this lease will be subject to cancellations by the lessor only by judicial proceedings. This provision will not be construed to prevent the
exercise by lessor of any other legal and equitable remedy, including waiver of the default. Any such remedy or waiver will not prevent later cancellation for the same default occurring at any other time. 
 SEC. 12. HEIRS AND SUCCESSORS-IN-INTEREST – Each obligation of this lease will extend to and be binding upon, and every benefit hereof will inure to, the heirs,
executors, administrators, successors, or assigns of the respective parties hereto. 
 SEC. 13. INDEMNIFICATION – Lessee must indemnify and hold
harmless the United States from any and all claims arising out of the lessee’s activities and operations under this lease. 
 SEC. 14. SPECIAL STATUTES
– This lease is subject to the Clean Water Act (33 U.S.C. 1252 et seq.), the Clean Air Act (42 U.S.C. 4274 et seq.), and to all other applicable laws pertaining to exploration activities, mining operations and reclamation, including the Surface
Mining Control and Reclamation Act of 1977 (30 U.S.C. 1201 et seq.). 
 SEC. 15. SPECIAL STIPULATIONS 
 See attached pages 5 through 9. 
  

					
	(Continued on page 3)	 		 	(Form 3400-12, page 2)

 WYW155132 
 Page 3 of 9 
 SEC. 15. SPECIAL STIPULATIONS (Cont’d.) 
 See attached pages 5 through 9. 
  

							
		 		 	THE UNITED STATES OF AMERICA
				
	 Foundation Wyoming Land Co.
	 		 	By	 	/s/ Donald A. Simpson
	(Company or Lessee Name)	 		 		 	
				
	/s/ Steven Y. Rennell	 		 		 	 Donald A. Simpson

	(Signature of Lessee)	 		 		 	(BLM)
				
	 Vice President
	 		 		 	 State Director, Acting

	(Title)	 		 		 	(Title)
				
	 3-13-08
	 		 		 	 April 8, 2008

	(Date)	 		 		 	(Date)

 Title 18 U.S.C. Section 1001, makes it a crime for any person knowingly and willfully to make to any
department or agency of the United States any false, fictitious or fraudulent statements or representations as to any matter within its jurisdiction. 
 NOTICES 
 The Privacy Act of 1974 and the regulation in 43 CFR 2.48(d) provide that you be furnished with the following
information in connection with information required by this application. 
 AUTHORITY: 30 U.S.C. 181-287 and 30 U.S.C. 351-359. 
 PRINCIPAL PURPOSE: BLM will use the information you provide to process your application and determine if you are eligible to hold a lease on BLM Land. 
 ROUTINE USES: BLM will only disclose the information according to the regulations at 43 CFR 2.56(d). 
 EFFECT OF NOT PROVIDING INFORMATION: Disclosing the information is necessary to receive a benefit. Not disclosing the information may result in BLM’s rejecting your request for a lease. 
 The Paperwork Reduction Act of 1995 requires us to inform you that: 
 The BLM
collects this information to authorize and evaluate proposed exploration and mining operations on public lands. 
 Response to the provisions of this lease
form is mandatory for the types of activities specified. 
 The BLM would like you to know that you do not have to respond to this or any other Federal
agency-sponsored information collection unless it displays a currently valid OMB control number. 
 BURDEN HOURS STATEMENT: Public reporting burden for this
form is estimated to average one hour per response including the time for reading the instructions and provisions, and completing and reviewing the form. Direct comments regarding the burden estimate or any other aspect of this form to U.S.
Department of the Interior, Bureau of Land Management (1004-0073), Bureau Information Collection Clearance Officer (WO-630), 1849 C Street, Mail Stop 401 LS, Washington, D.C. 20240. 
 (Form 3400-12, page 3) 

 WYW155132 
 Page 4 of 9 Pages 
 DEFERRED BONUS PAYMENT SCHEDULE 
 TO BE ATTACHED TO AND MADE A PART OF 
 FEDERAL COAL LEASE WYW155132 
 This lease is issued subject to the payment of $144,432,000.00 by the lessee as a deferred bonus. Payment of the deferred bonus by the lessee shall be made as
follows: 
 Total amount of bid: $180,540,000.00. 
 One-fifth in the amount of $36,108,000.00 submitted on the date of sale. 
 Balance is due and payable in equal annual installments on the
first four anniversary dates of the lease: 
 One-fifth in the amount of $36,108,000.00 due on __May 1, 2009
                . 
 One-fifth in the amount of $36,108,000.00
due on __May 1, 2010                 . 
 One-fifth in the amount of
$36,108,000.00 due on __May 1, 2011                 . 
 One-fifth in the amount of $36,108,000.00 due on __May 1, 2012                 . 

 WYW155132 
 Page 5 of 9 Pages 
 SEC. 15. SPECIAL STIPULATIONS – 
 In addition to observing the general obligations and standards of performance set out in the current regulations, the lessee shall comply with and be bound by the
following special stipulations. 
 These stipulations are also imposed upon the lessee’s agent and employees. The failure or refusal of any of these
persons to comply with these stipulations shall be deemed a failure of the lessee to comply with the terms of the lease. The lessee shall require his agents, contractors and subcontractors involved in activities concerning this lease to include
these stipulations in the contracts between and among them. These stipulations may be revised or amended, in writing, by the mutual consent of the lessor and the lessee at any time to adjust to changed conditions or to correct an oversight.

 (a) CULTURAL RESOURCES – (1) Before undertaking any activities that may disturb the surface of the leased lands, the lessee shall
conduct a cultural resource intensive field inventory in a manner specified by the Authorized Officer of the BLM or of the surface managing agency, if different, on portions of the mine plan area and adjacent areas, or exploration plan area, that
may be adversely affected by lease-related activities and which were not previously inventoried at such a level of intensity. The inventory shall be conducted by a qualified professional cultural resource specialist (i.e., archeologist, historian,
historical architect, as appropriate), approved by the Authorized Officer of the surface managing agency (BLM, if the surface is privately owned), and a report of the inventory and recommendations for protecting any cultural resources identified
shall be submitted to the Regional Director of the Western Region of the Office of Surface Mining (the Western Regional Director), the Authorized Officer of the BLM, if activities are associated with coal exploration outside an approved mining
permit area (hereinafter called Authorized Officer), and the Authorized Officer of the surface managing agency, if different. The lessee shall undertake measures, in accordance with instructions from the Western Regional Director, or Authorized
Officer, to protect cultural resources on the leased lands. The lessee shall not commence the surface disturbing activities until permission to proceed is given by the Western Regional Director or Authorized Officer. 
 (2) The lessee shall protect all cultural resource properties that have been determined eligible to the National Register of Historic Places within the lease area from
lease-related activities until the cultural resource mitigation measures can be implemented as part of an approved mining and reclamation or exploration plan unless modified by mutual agreement in consultation with the State Historic Preservation
Officer. 
 (3) The cost of conducting the inventory, preparing reports, and carrying out mitigation measures shall be borne by the lessee. 

 WYW155132 
 Page 6 of 9 Pages 
 SEC. 15. SPECIAL STIPULATIONS (Continued) – 
 (4) If cultural resources are discovered during operations under this lease, the lessee shall immediately bring them to the attention of the Western Regional Director or
Authorized Officer, or the Authorized Officer of the surface managing agency, if the Western Regional Director is not available. The lessee shall not disturb such resources except as may be subsequently authorized by the Western Regional Director or
Authorized Officer. 
 Within two (2) working days of notification, the Western Regional Director or Authorized Officer will evaluate or have evaluated
any cultural resources discovered and will determine if any action may be required to protect or preserve such discoveries. The cost of data recovery for cultural resources discovered during lease operations shall be borne by the lessee unless
otherwise specified by the Authorized Officer of the BLM or of the surface managing agency, if different. 
 (5) All cultural resources shall remain under
the jurisdiction of the United States until ownership is determined under applicable law. 
 (b) PALEONTOLOGICAL RESOURCES – If
paleontological resources, either large and conspicuous, and/or of significant scientific value are discovered during mining operations, the find will be reported to the Authorized Officer immediately. Mining operations will be suspended within 250
feet of said find. An evaluation of the paleontological discovery will be made by a BLM-approved professional paleontologist within five (5) working days, weather permitting, to determine the appropriate action(s) to prevent the potential loss
of any significant paleontological value. Operations within 250 feet of such discovery will not be resumed until written authorization to proceed is issued by the Authorized Officer. The lessee will bear the cost of any required paleontological
appraisals, surface collection of fossils, or salvage of any large conspicuous fossils of significant scientific interest discovered during the operations. 
 (c) THREATENED, ENDANGERED, CANDIDATE, or OTHER SPECIAL STATUS PLANT and ANIMAL SPECIES – The lease area may now or hereafter contain plants, animals, or their habitats determined to be threatened or endangered under the
Endangered Species Act of 1973, as amended, 16 U.S.C. 1531 et seq., or that have other special status. The Authorized Officer may recommend modifications to exploration and development proposals to further conservation and management
objectives or to avoid activity that will contribute to a need to list such species or their habitat or to comply with any biological opinion issued by the Fish and Wildlife Service for the Proposed Action. The Authorized Officer will not approve
any ground-disturbing activity that may affect any such species or critical habitat until it completes its obligations under applicable requirements of the Endangered Species Act. The Authorized Officer may require modifications to, or disapprove a
proposed activity that is likely to result in jeopardy to the continued existence of a proposed or listed threatened or endangered species, or result in the destruction of adverse modification of designated or proposed critical habitat. 

 WYW155132 
 Page 7 of 9 Pages 
 SEC. 15. SPECIAL STIPULATIONS (Continued) – 
 The lessee shall comply with instructions from the Authorized Officer of the surface managing agency (BLM, if the surface is private) for ground disturbing activities
associated with coal exploration on federal coal leases prior to approval of a mining and reclamation permit or outside an approved mining and reclamation permit area. The lessee shall comply with instructions from the Authorized Officer of the
Office of Surface Mining Reclamation and Enforcement, or his designated representative, for all ground disturbing activities taking place within an approved mining and reclamation permit area or associated with such a permit. 
 (d) MULTIPLE MINERAL DEVELOPMENT – Operations will not be approved which, in the opinion of the Authorized Officer, would unreasonably interfere with
the orderly development and/or production from a valid existing mineral lease issued prior to this one for the same lands. 
 (e) OIL AND GAS/COAL
RESOURCES – The BLM realizes that coal mining operations conducted on Federal coal leases issued within producing oil and gas fields may interfere with the economic recovery of oil and gas; just as Federal oil and gas leases issued in a
Federal coal lease area may inhibit coal recovery. BLM retains the authority to alter and/or modify the resource recovery and protection plans for coal operations and/or oil and gas operations on those lands covered by Federal mineral leases so as
to obtain maximum resource recovery. 
 (f) RESOURCE RECOVERY AND PROTECTION – Notwithstanding the approval of a resource recovery and
protection plan (R2P2) by the BLM, lessor reserves the right to seek damages against the operator/lessee in the event (i) the operator/lessee fails to achieve maximum economic recovery (MER) (as defined at 43 CFR 3480.0-5(21)) of the
recoverable coal reserves or (ii) the operator/lessee is determined to have caused a wasting of recoverable coal reserves. Damages shall be measured on the basis of the royalty that would have been payable on the wasted or unrecovered coal.

 The parties recognize that under an approved R2P2, conditions may require a modification by the operator/lessee of that plan. In the event a coal bed or
portion thereof is not to be mined or is rendered unmineable by the operation, the operator/lessee shall submit appropriate justification to obtain approval by the Authorized Officer to leave such reserves unmined. Upon approval by the Authorized
Officer, such coal beds or portions thereof shall not be subject to damages as described above. Further, nothing in this section shall prevent the operator/lessee from exercising its right to relinquish all or portion of the lease as authorized by
statute and regulation. 

 WYW155132 
 Page 8 of 9 Pages 
 SEC. 15. SPECIAL STIPULATIONS (Continued) – 
 In the event the Authorized Officer determines that the R2P2, as approved, will not attain MER as the result of changed conditions, the Authorized Officer will give
proper notice to the operator/lessee as required under applicable regulations. The Authorized Officer will order a modification if necessary, identifying additional reserves to be mined in order to attain MER. Upon a final administrative or judicial
ruling upholding such an ordered modification, any reserves left unmined (wasted) under that plan will be subject to damages as described in the first paragraph under this section. 
 Subject to the right to appeal hereinafter set forth, payment of the value of the royalty on such unmined recoverable coal reserves shall become due and payable upon determination by the Authorized Officer that the
coal reserves have been rendered unmineable or at such time that the operator/lessee has demonstrated an unwillingness to extract the coal. 
 The BLM may
enforce this provision either by issuing a written decision requiring payment of the Mineral Management Service demand for such royalties, or by issuing a notice of non-compliance. A decision or notice of non-compliance issued by the lessor that
payment is due under this stipulation is appealable as allowed by law. 
 (g) PUBLIC LAND SURVEY PROTECTION – The lessee will protect all
survey monuments, witness corners, reference monuments, and bearing trees against destruction, obliteration, or damage during operations on the lease areas. If any monuments, corners or accessories are destroyed, obliterated, or damaged by this
operation, the lessee will hire an appropriate county surveyor or registered land surveyor to reestablish or restore the monuments, corners, or accessories at the same location, using surveying procedures in accordance with the “Manual of
Surveying Instructions for the Survey of the Public Lands of the United States.” The survey will be recorded in the appropriate county records, with a copy sent to the Authorized Officer. 
 (h) BUFFER ZONES FOR RIGHTS-OF-WAY OF PUBLIC ROADS, SCHOOL BUILDING, AND OCCUPIED DWELLINGS – (1) No mining activity of any kind may be conducted
within the U.S. Highway 14-16 right-of-way and associated 100-feet buffer zone while the highway remains in its current (2007) location. The Wyoming Department of Transportation has accepted a proposal from Foundation Coal West, Inc. to
relocate U.S. Highway 14-16. Accordingly, the lessee shall recover all legally and economically recoverable coal from all leased lands within the current U.S. Highway 14-16 right-of-way and associated buffer zone after the highway is moved. The
lessee shall pay all royalties on any legally and economically recoverable coal which it fails to mine without the written permission of the Authorized Officer. 

 WYW155132 
 Page 9 of 9 Pages 
 SEC. 15. SPECIAL STIPULATIONS (Continued) – 
 (2) No mining of any kind may be conducted within 300 feet of the Rawhide public school building, 100 feet of the right-of-way of the public road to the school, and 300
feet of any occupied dwellings. The lessee shall recover all legally and economically recoverable coal from all leased lands not within these buffer zones. Provided written permission is given to mine within these buffer zones by the school’s
authorized officer and owners of the occupied dwellings, the lessee shall recover all legally and economically recoverable coal from all leased lands within the foregoing buffer zones. The lessee shall pay all royalties on any legally and
economically recoverable coal which it fails to mine without the written permission of the Authorized Officer.

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