Document:

exv10w14

Exhibit 10.14

TENNESSEE VALLEY AUTHORITY

COAL ACQUISITION & SUPPLY

1101 Market Street, MR 2A

Chattanooga, Tennessee 37402-2801

CONTRACT SUPPLEMENT

	 	 	 	 	 

	TO: Armstrong Coal Company, Inc.

	 	Supplement No.
	 	 7
	       7733 Forsyth Boulevard, Suite 1625

	 	Date
	 	December 29, 2009
	       St. Louis, Missouri 63105

	 	Group No.
	 	 612
	 

	 	Contract No.
	 	 40668
	 

	 	Plant
	 	Various
	 

	 	Name of Mine
	 	Big Run

Attention: Mr. Tate Rich

This confirms the agreement reached between Ben Jones, TVA, and Tate Rich, Delta Coals, LLC, on
behalf of Armstrong Coal Company, Inc., (“Contractor”) to amend Contract 612-40668 (the
“Contract”) as set forth below. Coal provided prior to January 1, 2010, will be governed by the
terms of the Contract, as amended by Supplements 1-6 and Section 5 of this Supplement 7, and
coal delivered on or after January 1, 2010, will be governed by the terms of the Contract as
amended by Supplements 1-6 and this Supplement 7.

Section 1. Contract Term

Section 1.0 Contract Term of the Contract (as previously modified by Supplement 1)
is hereby deleted in its entirety and replaced with the following:

The “Base Term” of this Contract is 4.5 years (July 1, 2008 — December 31, 2012) and
provides for a total reopener effective January 1, 2013. The “Reopener Term” of this
Contract is 6.0 years (January 1, 2013 — December 31, 2018). The Base Term and the
Reopener Term are subject to the terms and conditions provided below.

(A) The Delivery Commencement Date shall be July 1, 2008, and deliveries shall
continue for ten and one-half (10 1/2) years from said Delivery Commencement
Date unless terminated earlier by agreement or as otherwise provided herein.

(B) Either party may elect to commence Reopener Term negotiations by
providing written notice to the other party no later than April 1, 2012, for the
purpose of renegotiating the price and other terms and conditions with respect to
coal to be provided from January 1, 2013, for any period of time up to December
31, 2018, or for the sole purpose of terminating deliveries on January 1, 2013.
Nothing herein is intended to require a party who has commenced negotiations

1

 

hereunder to continue such negotiations, if, for any reason, such party determines it
is not in its interests to do so. If this negotiation provision has been exercised,
this Contract will terminate on December 31, 2012, unless TVA and the Contractor have
mutually agreed in writing no later than July 1, 2012, to continue this Contract.
Neither party shall be under any obligation or liability to continue this Contract
beyond said termination of December 31, 2012, or have any liability for refusing to do
so, if either party desires to terminate deliveries in accordance herewith.

(C) If the parties agree to continue this Contract beyond December 31, 2012, as the result
of negotiations as provided in (B) above then this Contract may be reopened by either party
by providing written notice to the other party no later than April 1, 2014, for the purpose
of negotiating price and other terms and conditions for coal to be provided from January 1,
2015, for any period of time up to December 31, 2018, or for the sole purpose of terminating
deliveries on December 31, 2014. Nothing herein is intended to require a party who has
commenced negotiations hereunder to continue such negotiations, if, for any reason, such
party determines it is not in its interests to do so.
If this reopener provision has been exercised, the Contract will terminate on December 31,
2014, unless TVA and the Contractor have mutually agreed in writing no later than July 1,
2014, to continue this Contract through December 31, 2018, or until such earlier expiration
date as the parties may mutually agree. Neither party shall be under any obligation or
liability to continue this Contract beyond December 31, 2014, or have any liability for
refusing to do so, if either party desires to terminate deliveries in accordance herewith.

Section 2. Quantity

Section 2.1.1 Quantity of the Contract is hereby deleted in its entirety and replaced
with the following:

2.1.1. Subject to TVA’s right to reduce or increase quantities to be delivered, as hereinafter
provided, the quantity of coal to be sold and purchased hereunder during each Contract Year shall
be as follows:

	 	 	 	 	 
	Contract Year	 	Base Tonnage	 
	2008
	 	 	500,000	 
	2009
	 	 	1,000,000	 
	2010
	 	 	1,000,000	 
	2011
	 	 	1,000,000	 
	2012
	 	 	2,000,000	 
	2013
	 	 	2,000,000	 
	2014-2018
	 	 	2,000,000	 

Note: Except as otherwise provided below, all annual tonnages will be delivered in fifty-two (52)
equal deliveries or as directed by the Contract Administrator.

2

 

Section 3. Price

Section 6.0 Price of the Contract is hereby revised as follows.

Subsection 6.1. is deleted in its entirety and replaced with the following new section:

6.1 Effective for all shipments beginning January 1, 2010, TVA shall pay Contractor $39.48 F.O.B.
railcar at Midway, Kentucky, (hereinafter referred to as the “Base Price”) for each net ton of coal
purchased and delivered under this Contract. Thereafter the Base Price shall be adjusted the first
day of each Contract Year as provided in Section 10.1 (as adjusted annually, hereinafter referred
to as “the then current Base Price”) and otherwise as provided in Section 8.

Note: The price of coal delivered in calendar year 2010, 2011, and 2012 shall be as shown below.

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Revised	 
	 	 	 	 	 	 	Price per	 
	 	 	 	 	 	 	ton per	 
	Calendar	 	 	 	 	 	Section	 
	Year	 	Base Price	 	 	10.1	 
	2010
	 	$	39.48	 	 	 	N/A	 
	2011
	 	$	39.48	 	 	$	40.57	 
	2012
	 	$	39.48	 	 	$	41.68	 

Section 4. Variations, Delays, and Interruptions in Deliveries

Section 4.0 Variations, Delays, and Interruptions in Deliveries of the Contract is
hereby revised as follows.

Subsection 4.2 is deleted in its entirety and replaced with the following new section:

4.2 Subject to the conditions hereinafter stated, neither party shall be liable to the other for
failure to deliver or accept delivery of coal as provided for in this contract if such failure was
due to supervening causes not due to its own negligence, and which cannot reasonably be overcome by
the exercise of due diligence. Such causes shall include by way of illustration, but not
limitation: acts of God or of the public enemy; insurrection; riots; strikes; nuclear disaster;
partial or total outages of coal-fired units; floods; accidents; major breakdown of equipment or
facilities (including, but not limited to, emergency outages of equipment or facilities to make
repairs to avoid breakdowns thereof or damage thereto), such equipment and facilities to include,
but not limited to, power generation, unloading, stock-out and preparation plant equipment; fires;
industry-wide carrier delays or shortages of carriers’ equipment; embargoes; orders of acts of
civil or military authority; or industry-wide shortages of materials and supplies. Nor shall TVA be
obligated to accept delivery of coal hereunder to the extent that such causes

3

 

wholly or partially prevent the unloading, stockpiling, preparing, or burning of coal at a
Destination or Receiving Plant that is receiving coal at the time the cause occurs, in which case
TVA shall have no obligation to consign deliveries to another destination or plant; provided,
however, that if there is more than one Destination or Receiving Plant for this contract at the
time such cause occurs, TVA shall be excused from taking delivery of only such coal as would have
been received at the Destination or Receiving Plant experiencing such cause. Nor shall refusal of
either party to settle a strike on terms other than it considers satisfactory preclude the strike
from being considered an excusable cause. In the event of force majeure asserted by Contractor, TVA
shall have the right, but not the obligation, to require Contractor to make up any tonnage not
delivered in accordance with this Section. In the event of force majeure asserted by TVA,
Contractor shall have the right, but not the obligation, to require TVA to make up any tonnage not
accepted in accordance with this Section. Any make up tonnage under this provision shall be
rescheduled by mutual agreement between the parties. Written notice of a party’s intent to exercise
its right to require the other party to make up tonnage not delivered or accepted in accordance
with this section, in order to be effective, must be received by the other party within 90 days of
the date of the first coal delivery following the complete cessation of the force majeure. The Base
Price for make up tonnage rescheduled hereunder shall be the then current Base Price at the time of
delivery. The Base Price for any tonnage delivered under this provision, after the expiration of
the Contract Term shall be the Base Price of the final Contract Year, escalated by three percent
(3.0%).

Subsection 4.6 is deleted in its entirety and replaced with the following new section:

4.6 TVA, by providing at least thirty (30) days’ prior written notice to Contractor, shall have the
right to refuse any shipments otherwise scheduled for delivery to a Destination or Receiving Plant
during maintenance periods at such Destination or Receiving Plant. Either party shall have the
right, but not the obligation, to make up any tonnage not delivered in accordance with this
Section.

Written notice of a party’s intent to exercise its right to require the other party to make up such
deliveries, in order to be effective, must be received by the other party within 90 days of the
commencement of such maintenance period and such deliveries shall be rescheduled for delivery as
may be mutually agreed. The Base Price for make up tonnage rescheduled hereunder shall be the then
current Base Price at the time of delivery. The Base Price for any make up tonnage delivered after
the expiration of the Contract Term shall be the Base Price of the final Contract Year escalated by
three percent (3.0%).

Section 5. Law Change:

A. With respect to any and all governmental imposition and law change assessment costs and
expenses arising or incurred prior to January 1, 2010, including, but not limited to, any and all
costs and expenses associated with the Mine Improvement and New Emergency Response Act of 2006,
(“MINER Act”) and/or any Federal or State

4

 

statutes, rules, regulations, directives, or mandates implemented, promulgated, issued,
enacted, or revised prior to or on December 31, 2009 (individually and collectively a “Law
Change”), the following payment is agreed to as the final and complete settlement and resolution of
the price to be paid by TVA, under the Contract, for any and all MINER Act expenses, claims, or
costs and/or Law Change expenses, claims, or costs. TVA will pay Contractor a lump-sum payment of
$500,000 to settle and resolve any and all MINER Act and/or Law Change claims, costs, and expenses
which were or could have been claimed under Section 10 of the Contract and/or which arose or were
incurred with respect to or in connection with the Contract on or prior to December 31, 2009.

Upon payment of this $500,000, TVA and Contractor acknowledge and agree that TVA has paid in full
any and all amounts that are owed or that may be owed to Contractor pursuant to Section 10 or any
other provisions of the Contract respect to any and all coal delivered to TVA prior to or on
December 31, 2009, and for the avoidance of all doubt, no further payment will be made by TVA to
Contractor on account of or in connection with such coal, except for the payment of the Base Price
and/or any adjustments which may be due the parties as a result of the actual quality of the coal
delivered.

B. TVA and Contractor further agree that, effective with respect to coal deliveries on or
after January 1, 2010, pursuant to the Contract, Section 10.2.1 (Law Change
Assessment Costs) of the Contract shall not apply to costs arising on account of or
associated with any Federal or State statute (including the MINER Act), regulation,
ordinance, rule or other mandate or final judgment, order, or decree of a judicial or
regulatory body or agency that is enacted, amended, revised, issued, promulgated,
decreed, published, or established at any time prior to or on January 1, 2010. For the
avoidance of all doubt, TVA and Contractor acknowledge and agree that the prices
established pursuant to Section 3 of this Supplement include payment for the entire cost
of Contractor’s compliance with any and all existing laws, regulations, mandates,
ordinances, decrees, rules, and orders that are described in the immediately preceding
sentence.

C. The first four (4) lines of Section 10.2.1 on page 15 of the Contract and the first three
(3) lines of Section 10.2.1 (i) on page 16 of the Contract are hereby deleted in their
entirety and replaced with the following:

10.2.1 Law Change Assessment Costs. In the event of the issuance, enactment, promulgation, or
amendment, on or after January 1, 2010, of a Federal or State statute, regulation, ordinance, rule
or other mandate, or of a final judgment, order, or decree of a judicial or regulatory body or
agency:

     (i) relating specifically to coal mine safety, rescue, or emergency response, or

Section 6. Correction of Typographical Error:

5

 

The first sentence of Section 20 of the Contract is amended by deleting the phrase “no sooner
than July 1, 2111” and replacing it with “no sooner than July 1, 2011.”

All other terms and conditions of the Contract remain unchanged.

Please complete the acceptance below and return a signed copy of this contract
supplement to this office. You should retain the other signed copy for your files.

In the event Contractor fails to execute this Supplement in the acceptance space provided below or
fails to return such executed Supplement to TVA, shipment of coal to TVA following
the date of Contractor’s receipt of this Supplement shall constitute an acceptance by Contractor of
all the terms and conditions of this Supplement, unless within five (5) business days of the date
of receipt of this Supplement, Contractor notifies TVA, both orally and in writing that this
Supplement is not accepted.

	 	 	 	 	 	 	 

	Accepted 

	Armstrong Coal Co.
	 	 	 	TENNESSEE VALLEY AUTHORITY
	 

	 	 	 	 	 
	 

	Company	 	 	 	 

	 	 	 	 	 	 	 

	By 

	/s/ Martin D. Wilson
	 	 	 	/s/ Connie S. Gazaway
	 

	 	 	 	 	 
	 

	Signature
	 	 	 	Connie S. Gazaway
 Fuel Transportation Specialist

	 	 	 	 	 

	President

	 	 	 	/s/ 
	 

	 	 	 	 
	Title

	 	 	 	Contract Support Specialist
	 
	 	 	 	 
	2/3/10

	 	 	 	/s/ 
	 

	 	 	 	 
	Date

	 	 	 	Manager of Coal Supply

6exv10w15

Exhibit 10.15

Tennessee Valley Authority

Coal Supply & Origination

1101 Market Street, MR 2A

Chattanooga, Tennessee 37402-2801

CONTRACT SUPPLEMENT

	 	 	 	 	 

	TO: Armstrong Coal Company, Inc.

	 	Supplement No.
	 	8
	7701 Forsyth Boulevard — 10th Floor

	 	Date
	 	May 25, 2011
	St. Louis, Missouri 63105

	 	Group-Contract No.
	 	612-40668
	 

	 	Plant
	 	Widows Creek

Attention: Mr. Martin Wilson

This confirms the May 25, 2011 agreement reached between Amy Sitton of TVA and Mickey Fitzhugh of
Armstrong Coal Company.

Train W505 was loaded on May 24, 2011, under Traffic Control Number 196190 with coal which
reflected a total moisture content of 12.60 percent compared with the REJECT SPECIFICATION,
contained in Section 9.0 of the Contract, of 12.00 percent for that component of the analysis. As
agreed, TVA will accept this trainload of coal in consideration of a $2.50 per ton reduction in
price. Also, the analysis results obtained on this shipment will be included in the quarterly
quality adjustment calculations required under Section 8.0, Adjustment for Quality. TVA’s
Accounts Payable organization will deduct $26,669.81 from Contractor’s account.

All other terms and conditions of the contract remain unchanged.

Please complete the acceptance below and return the copy of this contract supplement to this
office. You should retain the original for your file.

In the event Contractor fails to execute this Supplement in the acceptance space provided below or
fails to return such executed Supplement to TVA, shipment of coal to TVA following the date of
Contractor’s receipt of this Supplement shall constitute an acceptance by Contractor of all the
terms and conditions of this Supplement, unless within five (5) business days of the date of
receipt of this Supplement, Contractor notifies TVA, both orally and in writing that this
Supplement is not accepted.

	 	 	 	 	 	 	 

	Accepted 

	Armstrong Coal Co.
	 	 	 	Tennessee Valley Authority
	 

	 	 	 	 	 
	 

	(Company)	 	 	 	 

	 	 	 	 	 	 	 

	By 

	/s/ Martin D. Wilson
	 		By 	/s/ Connie S. Gazaway
	 

	 	 	 	 	 
	 

	 	 	 	 	Connie S. Gazaway
 Senior Fuel Transportation Specialist

	 	 	 	 	 	 	 

	Title 

	President
	 		 	/s/ 
	 

	 	 	 	 	 
	 

	 	 	 	 	Manager, Coal Acquisition

	 	 	 	 	 	 	 

	Date 

	6/2/11	 		 	 
	 

	 	 	 	 	 
	 

	 	 	 	 	 

TVA RESTRICTED INFORMATION

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00199-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00199-of-00352.parquet"}]]