Document:

EX-4.25

Exhibit
4.25

VisionChina Digital — Guarantee Contract

 

GUARANTEE CONTRACT

No.: 2009 Zhenzhongyinsibao Zi 0315

Guarantor: Shenzhen VisionChina Digital Company Limited

Business License No.: 440301503227951

Legal Representative/Person-in-Charge: Li Limin

Domicile: Room 201, Unit 6, Xiangsheli Garden, Nongyuan Road, Futian District

Postcode: 518000

Bank and Account No.:

Tel: 88318628

Fax: 88318628

Creditor: Bank of China Shenzhen Branch

Legal Representative/Person-in-Charge: Wang Shaojun

Domicile: International Finance Building, 2022 Jianshe Road, Luohu District

Postcode: 518000

Tel: 22332208

Fax: 86331415

In order to guarantee the performance of the obligations under the Master Contract (as specified in
Article 1 hereof), the Guarantor is willing to provide a guarantee to the Creditor. The parties
hereby agree as follows through equal consultations. Unless otherwise provided herein, capitalized
terms used herein are as defined in the Master Contract.

	 	 	 

	Article 1

	 	Master Contract (Note: The blanks should be filled accurately
and non-applicable articles should be deleted.)
	 
	 	 
	 

	 	The master contract for this Contract (the “Master Contract”) is
the RMB Loan Agreement (Mid/Long-Term) No.: 2009
 Zhenzhongyinsijie Zi 60691.between the Creditor and VisionChina
Media Group Inc. as

 

 

	 	 	 

	 

	 	amended or supplemented.
	 
	 	 
	Article 2

	 	Principal Claim
	 
	 	 
	 

	 	The creditor’s rights under the Master Contract shall constitute the principal claim
under this Contract, including principal, interest (including statutory interest,
agreed interest, compound interest and default interest), liquidated damages,
damages, expenses in connection with the realization of the creditor’s rights
(including, without limitation, litigation expenses, attorney’s fees, notarization
fees and enforcement expenses, etc.), losses suffered by the Creditor as a result of
any breach by the obligor and any other sum payable.
	 
	 	 
	Article 3

	 	Form of Guarantee
	 
	 	 
	 

	 	The guarantee hereunder shall be a joint and several liability guarantee.
	 
	 	 
	Article 4

	 	Guarantee Liability
	 
	 	 
	 

	 	In the event of any failure by the obligor to make payment to the Creditor on any payment date or prepayment date as
agreed, the Creditor shall have the right to request the Guarantor to bear its guarantee liability.
	 
	 	 
	 

	 	The “payment date” set forth above shall mean any principal payment date, interest payment date set forth in the
Master Contract or any date on which the obligor shall make any payment to the Creditor as provided therein. The
“prepayment date” set forth above shall mean any prepayment date proposed by
the obligor and approved by the Creditor or any date on which the Creditor requests
an early payment of the principal and interest of the credit and/or any other sum
from the obligor as provided therein
	 
	 	 
	 

	 	No real security or guarantee in connection with the principal debt other than set
forth herein shall have any effect on any right of the Creditor hereunder or the
enforcement thereof, nor shall the Guarantor contest against the Creditor with
respect thereto.
	 
	 	 
	Article 5

	 	Guarantee Term
	 
	 	 
	 

	 	The term of guarantee hereunder shall be two (2) years from the date on

2

 

	 	 	 

	 

	 	which the
term for the performance of the Principal Claim has expired.
	 
	 	 
	 

	 	In the event of any installment performance of the Principal Claim, the term of
guarantee shall commence on the effective date hereof and end two (2) years after
the date on which the term for the performance of the last installment payment of
the debt has expired.
	 
	 	 
	Article 6

	 	Statute of Limitations for the Guaranteed Debt
	 
	 	 
	 

	 	In the event that the Principal Claim has not been satisfied, and under the joint
and several guarantee liability, the Creditor requests the Guarantor to bear the
guarantee liability prior to the date on which the guarantee term has expired as
provided in Article 5 hereof, the statute of limitations shall be calculated and
applied from the date on which the Creditor has requested the Guarantor to bear the
guarantee liability for the guaranteed debt.
	 
	 	 
	Article 7

	 	Relationship between this Contract and the Master Contract
	 
	 	 
	 

	 	Upon termination or early termination of the Master Contract by
the parties, the Guarantor shall bear the guarantee liability
for the creditor’s rights incurred under the Master Contract.
	 
	 	 
	 

	 	No amendment to the Master Contract as agreed by the parties
thereto (unless it is related to the currency, interest rate,
amount, term or other amendment which would result in any
increase of the principal claim or extension of the performance
term of the Master Contract) shall require the consent of the
Guarantor, and the Guarantor shall bear the guarantee liability
under the Master Contract as amended.
	 
	 	 
	 

	 	In the event of any failure to obtain the written consent of or
any refusal by the Guarantor (if the consent of the Guarantor is
required), the Guarantor shall not be liable for the increased
amount of the principal claim, and in the case of any extension
of the performance term of the Master Contract, the guarantee
term shall remain the same as the original term.
	 
	 	 
	 

	 	The parties may conduct import bill advance business upon
issuance of a sight letter of credit (, or usance letter of
credit where the bill advance term is no later than the
effective term of the letter of credit) by the Creditor to the
obligor, without the written consent of the Guarantor, and the
Guarantor shall provide a joint and several liability guarantee
for the bill advance financing or other form of subsequent
financing provided by the Creditor to the obligor. The term of
guarantee shall commence on the

3

 

	 	 	 

	 

	 	effective date of the import
bill advance agreement and end two (2) years after the date on
which the term for the service of the debt has expired.
	 
	 	 
	 

	 	Without the written consent of the Guarantor, the parties may
not conduct import bill advance business upon issuance of a
usance letter of credit by the Creditor to the obligor where the
bill advance term is longer than the effective term of the
letter of credit. Upon such consent, the Guarantor shall provide
a joint and several liability guarantee for the bill advance
financing or other form of subsequent financing provided by the
Creditor to the obligor. The term of guarantee shall commence on
the effective date of the import bill advance agreement and end
two (2) years after the date on which the term for the
performance of the debt has expired.
	 
	 	 
	Article 8

	 	Representations and Warranties
	 
	 	 
	 

	 	The Guarantor hereby represents and warrants as follows:
	 
	 	 
	(i)

	 	It is a lawfully incorporated and legally existing entity, with requisite full
civil capacity to enter into and perform this Contract;
	 
	 	 
	(ii)

	 	It is fully aware of the content of the Master Contract. The entry into and
performance of this Contract is an expression of the genuine intent of the Guarantor
and has received lawful and valid authorizations required by its Articles of
Association or other internal organizational document(s).
	 
	 	 
	 

	 	If the Guarantor is a company, the provision of such guarantee has been approved by
the resolutions of the Board of Directors or shareholders’ meeting or general
meeting of shareholders pursuant to the Articles of Association. If there is any
limit on the total or individual guaranteed amount under the Articles of
Association, the guarantee hereunder does not exceed such limit.
	 
	 	 
	 

	 	The signature of the legal representative or authorized signatory who executes this
Contract on behalf of the Guarantor has received lawful and valid corporate
authorizations. The entry into and performance of this Contract will not contravene
any contract, agreement or any other legal document binding on the Guarantor;
	 
	 	 
	(iii)

	 	All documents and materials furnished by the Guarantor to the Creditor are
accurate, complete, true and valid;
	 
	 	 
	(iv)

	 	It will accept the Creditor’s supervision and inspection of the Guarantor’s
production and operation condition and financial condition, and will provide assistance
and cooperation;

4

 

	 	 	 

	(v)

	 	The Guarantor has not withheld from the Creditor any material liability
incurred as of the execution date of this Contract;
	 
	 	 
	(vi)

	 	It will timely notify the Creditor of any circumstance which may affect its
financial condition and contract performance ability, including without limitation the
undertaking of any division, merger, joint operation, equity or cooperative joint
venture with foreign investors, operation under a contracting scheme, restructuring,
reorganization, proposed IPO or other change of business operation; reduction of
registered capital or transfer of material assets or equity; assumption of material
indebtedness; dissolution, revocation, or voluntary or involuntary bankruptcy, or
involvement in any material suit or arbitration proceedings.
	 
	 	 
	Article 9

	 	Disclosure of Intragroup Related Parties and Transactions of
the Guarantor
	 
	 	 
	 

	 	The parties agree that the Guarantor is not a group client
designated by the Creditor as such in accordance with the Risk
Management Guidelines for Commercial Banks in relation to the
Group Client Facility Grant Business (“Guidelines”).
	 
	 	 
	Article 10

	 	Event of Default and Action upon Event of Default
	 
	 	 
	 

	 	Any of the following events shall constitute an event of
default of the Guarantor under this Contract:
	 
	 	 
	(i)

	 	The Guarantor fails to bear its guarantee liability hereunder in a timely
manner;
	 
	 	 
	(ii)

	 	Any representation made by the Guarantor hereunder is untrue, or the Guarantor
breaches any covenant made by it hereunder;
	 
	 	 
	(iii)

	 	Any event under Article 8 (vi) occurs which would have a material effect on
the financial condition and performance ability of the Guarantor;
	 
	 	 
	(iv)

	 	The Guarantor stops its business operation or is subject to dissolution,
revocation or bankruptcy;
	 
	 	 
	(v)

	 	The Guarantor breaches any other provision hereof regarding the rights and
obligations of the parties;
	 
	 	 
	(vi)

	 	An event of default occurs under any other contract between the Guarantor and
the Creditor or any other entity under Bank of China.

	 	 	 	Upon occurrence of any event of default set forth above, the Creditor shall be entitled to
take one or more of the following actions depending on the specific situation:

5

 

	 	(i)	 	request the Guarantor to cure its breach within a set time limit and bear its
guarantee liability in a timely manner;
	 
	 	(ii)	 	reduce, suspend or terminate (in whole or in part), the credit line granted to
the Guarantor;
	 
	 	(iii)	 	suspend or terminate (in whole or in part) the handling of the business
application of the Guarantor under any other contract; suspend or terminate (in whole
or in part) the releasing or handling of any unreleased loan or any trade financing
that has not been handled yet;
	 
	 	(iv)	 	declare the principal and interest and any other sum payable of the outstanding
loan/trade financing of the Guarantor under any other contract to be immediately due in
whole or in part;
	 
	 	(v)	 	terminate or discharge this Contract, terminate or discharge in whole or in
part any other contract between the Guarantor and the Creditor;
	 
	 	(vi)	 	request the Guarantor to indemnify the losses suffered by the Creditor as a
result of the Guarantor’s breaches;
	 
	 	(vii)	 	with notice (whether a prior notice or not), deduct any amount from the
account opened by the Guarantor with the Creditor to service the debt of the Guarantor
payable to the Creditor in whole or in part. In the event of any difference between the
account currency and the business currency with the Creditor, the quoted settlement
exchange rate applicable to the Creditor at the time of such deduction shall be used
for conversion;
	 
	 	(viii)	 	take any other measure as deemed necessary by the Creditor.

	 	 	Article 11 No Waiver

	 	 	 	Any failure by either party to exercise its rights hereunder in whole or in part, or
to request the other party to perform or assume its obligations or liabilities
hereunder in whole or in part, shall not constitute its waiver of such rights or
exemption of such obligations or liabilities.

	 	 	 	Any tolerance, extension, or delay granted by either party to the other party in
connection with the exercise of the rights hereunder shall neither affect any of its
rights under this Contract, laws and regulations, nor be deemed to be its waiver of
such rights.

	 	 	Article 12 Amendment, Modification and Termination

6

 

	 	 	 	Any amendment or modification to this Contract shall be made
in writing by the parties through consultation, and shall
form an integral part of this Contract.
	 
	 	 	 	Unless otherwise provided under the laws or regulations or
agreed by the parties, this Contract shall not be terminated
prior to the performance of the rights and obligations
hereunder in whole.
	 
	 	 	 	Unless otherwise provided under the laws or regulations or
agreed by the parties, any invalidity of any provision hereof
shall not affect the legal validity of any other provision.

	 	 	Article 13 Governing Law and Dispute Resolution

	 	 	 	This Contract shall be governed by the laws of the People’s Republic of China.
	 
	 	 	 	Any dispute or controversy arising out of the performance of this Contract shall
first be settled by the parties through consultation. If no settlement can be
reached through consultation, the parties agree to adopt the same dispute resolution
method as provided in the Master Contract.
	 
	 	 	 	During the period of dispute resolution, if such dispute has no effect on the
performance of any other provision hereof, such other provision shall continue to be
implemented.
	 
	 	 	 	Unless otherwise provided under the laws or regulations or agreed by the parties,
any invalidity of any provision hereof shall not affect the legal validity of any
other provision.

	 	 	Article 14 Expenses

	 	 	 	Unless otherwise provided under law or agreed by the parties, the expenses incurred
in connection with the formulation, performance and dispute resolution of this
Contract (including attorney’s fees) shall be borne by the Guarantor.

	 	 	Article 15 Exhibits

	 	 	 	The exhibits hereto, upon confirmation by the parties, shall constitute an integral
part of this Contract, and have the same legal validity as this Contract.

7

 

	 	 	Article 16 Miscellaneous

	 	(i)	 	The Guarantor shall not transfer any right or obligation hereunder to any third
party without the written consent of the Creditor.
	 
	 	(ii)	 	The Guarantor agrees that the Creditor may delegate any other entity under Bank
of China to exercise the rights and perform the obligations hereunder based on its
business requirements. The entity under Bank of China authorized by the Creditor shall
have the right to exercise all rights hereunder, and bring an action to the court with
respect to the dispute hereunder or submit such dispute to the arbitration authority
for arbitration.
	 
	 	(iii)	 	Without prejudice to any other provision hereof, this Contract shall be
legally binding on the parties and their respective permitted successors and assigns
under law.
	 
	 	(iv)	 	Unless otherwise provided herein, the domicile set forth herein as designated
by the parties shall be the communication and contact address. Each party undertakes
that it will notify the other party in writing of any change in the communication and
contact address.
	 
	 	(v)	 	The headings and business names hereof are for references only, and shall not
be used to interpret the content of the terms or the rights and obligations of the
parties.

	 	 	Article 17 Contract Effectiveness

	 	 	 	This Contract shall come into effect on the date on which it has been executed by
the legal representatives, responsible persons or authorized signatories of the
parties with affixation of corporate seals.
	 
	 	 	 	This Contract is made in three (3) copies with the Guarantor holding one (1)
copy and the Creditor holding two (2) copies with equal legal validity.

	 	 	 

	Guarantor:

	 	Creditor :
	 
	 	 
	Shenzhen VisionChina Digital Company Limited

	 	Bank of China Shenzhen Branch
	 
	 	 
	Authorized Signatory:

	 	Authorized Signatory:
	 
	 	 
	Date:

	 	Date:

8Exhibit 10.1

EXHIBIT 10.1

	 	 	 
	

	 	Number: GP- 33

Issue/Revision Date:           June 1, 2010
	Supersedes Policy: GP-33 dated 01/01/2009 & 
	WESTMORELAND COAL COMPANY

	 	Previously Issued Letters and Memos

	 
	 	 
	 

	 	Approved Issuing Officer:
	 
	 	 
	Title: Annual Incentive Plan (AIP)

	 	/s/ Keith E. Alessi
	 

	 	 
	 

	 	Name: Keith E. Alessi
Title: CEO
	 

	 	Title:   CEO

POLICY STATEMENT

It is the policy of Westmoreland Coal Company and its subsidiaries, hereinafter collectively “the
Company,” to compensate designated employees with annual financial incentives for the
accomplishment of key strategic goals and objectives intended to promote financial performance,
productivity and safety.

ELIGIBILITY

You are an “Eligible Employee” if you meet all the following conditions:

	 	•	 	You are an employee designated by the Company to be eligible as per the addendum;

	 
	 	•	 	You are an active full-time employee of the Company, scheduled to work at least 40 hours
per week; and

	 
	 	•	 	You are employed by the Company on October 1 during the plan year.

PROCEDURES

DETERMINATION AND PAYMENT OF AIP PAYMENTS

The Company measures the accomplishments of our employees based on financial, safety and individual
components. The “Targeted Amount” of the incentive is based on a percentage of the employee’s
base salary relative to the employee’s position within the Company.

	 	•	 	Financial Goals — are based on the Company attaining or exceeding its budgeted
operating income goals. Financial Goals have a threshold, target, and double target.

	 
	 	•	 	Safety Goals — are based on the actual Mine Safety & Health Administration (MSHA)
Reportable Incident Rate (RIR) for the coal industry (strip mines, preparation plants and
independent shops/yards). Safety Goals have a threshold, target, and double target.

	 
	 	•	 	Individual Goals — are based on achievement of individual objectives.

 

Page 1 of 5

 

	 	 	 	 	 	 	 
	Title: Annual Incentive Plan (AIP)

	 	No.
GP-33
	 	Date Issued:

June 1, 2010
	 	Supersedes Policy

GP-33 dated

01/01/2009

The components of the Company’s Annual Incentive Plan (“AIP”) — Financial Goals, Safety Goals, and
Individual Goals — have different weight and emphasis depending on whether the employee is in
Operations or Corporate. Employees have the opportunity to earn more than 100% of their individual
goals, based on exemplary performance.

Operations Management

For those eligible employees in Operations, the following guidelines will apply relative to their
Annual Incentive Plan:

Financial Goals: The Financial Goal is 40% of Targeted Amount based on the Mine’s/Division’s
budgeted Operating Income.

	 	• 	 	Financial Threshold: Financial Threshold is defined as meeting the annual
budgeted Operating Income. Fifty percent of the Financial Goal will be paid upon
achieving Financial Threshold. Under no circumstances will a payout of the Financial
Goal be made if Financial Threshold is not achieved.

	 
	 	• 	 	Financial Target: Financial Target is defined as exceeding Financial Threshold by
7.5%. One hundred percent of the Financial Goal will be paid upon meeting Financial
Target. Results that fall between Financial Threshold and Financial Target will
result in a prorated calculation between 50% and 100%.

	 
	 	• 	 	Financial Double Target: Financial Double Target is defined as exceeding
Financial Threshold by 15%. Two hundred percent of the Financial Goal will be paid
upon achieving Financial Double Target. Results that fall between Financial Target
and Financial Double Target will result in a prorated calculation between 100% and
200%. 200% is the maximum payout of the Financial Goal even if Financial Double
Target is exceeded.

Safety Goals: Thirty percent of Targeted Amount will be based upon achieving the following Safety
Goals for each mine.

	 	• 	 	Safety Threshold: Safety Threshold is defined as meeting the annual National MSHA
average for Reportable Incident Rate (RIR) for the coal industry (strip mines,
preparation plants, and independent shops/yards). Fifty percent of the Safety Goal
will be paid upon achieving Safety Threshold. Under no circumstances will a payout
of the Safety Goal be made if Safety Threshold is not met.

	 
	 	• 	 	Safety Target: Safety Target is defined as safety experience 25% better than
Safety Threshold. One hundred percent of the Safety Goal will be paid upon achieving
Safety Target. Results falling between Safety Threshold and Safety Target will
result in a prorated calculation between 50% and 100%.

 

Page 2 of 5

 

	 	 	 	 	 	 	 
	Title: Annual Incentive Plan (AIP)

	 	No.
GP-33
	 	Date Issued:

June 1, 2010
	 	Supersedes Policy

GP-33 dated

01/01/2009

	 	• 	 	Safety Double Target: Safety Double Target is defined as safety experience 50%
better than Safety Threshold. Two hundred percent of the Safety Goal will be paid
upon achieving Safety Double Target. Results falling between Safety Target and
Safety Double Target will result in a prorated calculation between 100% and 200%.
Two hundred percent is the maximum payout of the Safety Goal, even if Safety Double
Target is exceeded.

Individual Goals: The Individual Goal is 30% of Targeted Amount and will be based on achievement
of certain individual goals.

	 	• 	 	The percentage payout will be evaluated on achievement of certain individual goals
established between the employee and his/her manager and will be based on the
employee’s overall performance evaluation. For the Individual Goal, employees and
their manager will select two goals for the purpose of the AIP. These goals should
be defined no later than March 31 of each applicable year (or on the employee’s date
of hire if later than March 31). All goals should be “SMART” goals in that they are
Specific, Measurable, Aligned, Realistic, and Time-bound. The individual goals will
require approval by the Company’s Chief Executive Officer (“CEO”) and VP, Human
Resources and Administration.

	 
	 	• 	 	The individual goals cannot be related to safety or financial performance.
Further, there will be no payout for individual goals if a person is deemed
responsible for a material deficiency relative to the Sarbanes-Oxley Act (SOX).

Corporate Management

If an employee is considered to be an eligible corporate employee, the following guidelines will
apply relative to their Annual Incentive Plan:

Financial Goals: The Financial Goal is 55% of Targeted Amount based on the corporate budgeted
Operating Income.

	 	• 	 	Threshold: Threshold is defined as meeting the annual budgeted Operating Income.
Fifty percent of the Financial Goal will be paid upon achieving Threshold. Under no
circumstances will a payout of the Financial Goal be made if Threshold is not
achieved.

	 
	 	• 	 	Target: Target is defined as exceeding Threshold by 7.5%. One hundred percent of
the Financial Goal will be paid upon meeting Target. Results that fall between
Threshold and Target will result in a prorated calculation between 50% and 100%.

	 
	 	• 	 	Double Target: Double Target is defined as exceeding Threshold by 15%. Two
hundred percent of the Financial Goal will be paid upon achieving Double Target.
Results that fall between Target and Double Target will result in a prorated
calculation between 100% and 200%. Two hundred is the maximum payout of the
Financial Goal even if Double Target is exceeded.

 

Page 3 of 5

 

	 	 	 	 	 	 	 
	Title: Annual Incentive Plan (AIP)

	 	No.
GP-33
	 	Date Issued:

June 1, 2010
	 	Supersedes Policy

GP-33 dated

01/01/2009

Individual Goals: The Individual Goal is 45% of Targeted Amount and will be based on achievement
of certain individual goals.

	 	• 	 	The percentage payout will be evaluated on achievement of certain individual goals
established between the employee and his/her manager and will be based on the
employee’s overall performance evaluation. For the Individual Goal, employees and
their manager will select two goals for the purpose of the AIP. These goals should
be defined no later than March 31of each applicable year (or on the employee’s date
of hire if later than March 31). All goals should be “SMART” goals in that they are
Specific, Measurable, Aligned, Realistic, and Time-bound. The individual goals will
require approval by the Company’s CEO and VP, Human Resources and Administration.

	 
	 	• 	 	The individual goals cannot be related to financial performance. Further, there
will be no payout for individual goals if a person is deemed responsible for a
material deficiency relative to the Sarbanes-Oxley Act (SOX).

PROVISIONS

The following are important Plan terms and conditions:

	 	•	 	Any incentive or bonus award may be adjusted either up or down at the sole discretion of
the Company’s CEO, based upon individual performance and/or other factors regardless of
whether it is earned in accordance with this and/or any other document.

	 
	 	•	 	Awards are capped at two times target for each Financial and Safety goals.

	 
	 	•	 	All incentive awards granted will be calculated based upon the participant’s base salary
earned during the 12 months ending on December 31 of the applicable year.

	 
	 	•	 	A participant must be employed by the Company on the date the incentive payments are
distributed in order to receive any payment under the Plan, except as approved by the
Compensation and Benefits (“C&B”) Committee.

	 
	 	•	 	Incentive award checks will be distributed following completion of the Company’s annual
audit and approval of the Company’s C&B Committee, typically at the end of the first
quarter of the subsequent year.

	 
	 	•	 	Taxes, deferrals (401(k)) and distributions that are required to be withheld by federal,
state or local or other governmental authority shall be deducted from all payments.

	 
	 	•	 	Any incentive award for a newly hired or promoted participant will be based upon the
base salary earned from their date of hire to December 31.

	 
	 	•	 	No member of the Board of Directors or the C&B Committee shall be liable for any action
taken or determination made in good faith with respect to AIP.

	 
	 	•	 	Receipt of any portion of the incentive award is subject to all terms and conditions
described in this document.

	 
	 	•	 	Participation in this Plan is neither a contract nor a guarantee of continuing
employment.

	 
	 	•	 	This Plan may be modified, suspended or terminated at any time by the Company.

 

Page 4 of 5

 

	 	 	 	 	 	 	 
	Title: Annual Incentive Plan (AIP)

	 	No.
GP-33
	 	Date Issued:

June 1, 2010
	 	Supersedes Policy

GP-33 dated

01/01/2009

ADDENDUM

WESTMORELAND COAL COMPANY ANNUAL INCENTIVE PLAN

FOR NON-UNION EMPLOYEES

	 	 	 	 	 	 	 	 	 	 	 
	Grade	 	Level	 	Position or Classification	 	AIP %
	 
	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	CEO
	 	 	*	 
	 
	 	 	 	 	 	 	 	 	 	 
	12

	 	 	1	 	 	•   Executive VP	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	•   VP, Coal Operations
	 	 	50	%
	 
	 	 	 	 	 	 	 	 	 	 
	11, 12

	 	 	2	 	 	•   Chief Financial Officer	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	•   General Counsel
	 	 	40	%
	 
	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	•   Vice Presidents of a Functional Area	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	•   Mine Managers	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	11

	 	 	3	 	 	•   Directors of a Functional Area	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	•   Assistant General Counsel
	 	 	30	%
	 
	 	 	 	 	 	 	 	 	 	 
	9, 10

	 	 	4	 	 	Managers of a Functional Area
	 	 	20	%
	 
	 	 	 	 	 	 	 	 	 	 
	8, 9

	 	 	5	 	 	Superintendents
	 	 	15	%
	 
	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	All employees AIP eligible as of June 2010 who
do not meet the above guidelines are
grandfathered into the plan.
	 	 	15	%

	 	 	 
	*	 	To be determined by the Company’s C&B Committee.

 

Page 5 of 5

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