Document:

EX-10.26

 Exhibit 10.26 

NOTE PURCHASE AGREEMENT 

This Note Purchase Agreement (this “Agreement”) is made and entered into as of December     , 2013 (the
“Effective Date”), by and between Geovic Mining Corp., a Delaware corporation (the “Company”), and
                    , a
                    (“Purchaser”). The Company and Purchaser sometimes are referred to herein collectively as the
“Parties,” and each individually as a “Party.” 
 RECITALS 

The Company and Purchaser desire to enter into this Agreement pursuant to which, among other things, Purchaser agrees to acquire from the
Company, and the Company agrees to issue to Purchaser, a promissory note (the “Note”) in the principal amount of $             (the “Principal Amount”).
This Agreement and the Note sometimes are collectively referred to in this Agreement as the “Transaction Documents.” 

AGREEMENTS 
 In
consideration of the mutual promises, representations, warranties, covenants and conditions in this Agreement, and other good and valuable consideration, the receipt and sufficiency of which hereby are acknowledged, the Parties agree as follows:

 1. Purchase and Sale of the Note. Subject to the terms and conditions in this Agreement, on the Effective Date, the Company agrees
to sell to Purchaser, and Purchaser agrees to purchase from the Company, the Note in the form attached as Exhibit A, for a purchase price equal to the Principal Amount (the “Purchase Price”). 

2. Payment of the Purchase Price and Delivery of Note. On the Effective Date the Company shall deliver to Purchaser the Note, duly
executed by the Company, and Purchaser shall pay to the Company the Purchase Price for its Note, by certified check or wire transfer of immediately available funds to the Company’s designated account. 

3. Representations and Warranties of the Company. The Company represents and warrants to Purchaser, to the best of its knowledge and
belief, as follows: 
 3.1 Organization, Good Standing and Qualification. The Company is a corporation duly incorporated, validly
existing and in good standing under the laws of the State of Delaware. The Company is duly qualified to transact business and is in good standing in each jurisdiction in which the failure to so qualify would reasonably be expected to have a material
adverse effect on its business or properties. 
 3.2 Authorization. All corporate action on the part of the Company necessary
(i) for the authorization, execution and delivery of the Transaction Documents, and (ii) for the performance of all obligations of the Company under the Transaction Documents has been taken. The Transaction Documents will constitute valid
and legally binding obligations of the Company, enforceable against the Company in accordance with their respective terms, except (i) as limited by applicable bankruptcy, insolvency, reorganization, moratorium, fraudulent conveyance and
transfer and other laws of general application affecting enforcement of creditors’ rights generally, (ii) as limited by laws relating to the availability of specific performance, injunctive relief or other equitable remedies, and
(iii) except as set forth in Section 4.3. 

 3.3 Valid Issuance of Note. The Note when issued, sold and delivered in accordance with
the terms of this Agreement for the consideration provided in this Agreement, will be duly and validly issued. 
 3.4 No Conflict.
The execution, delivery and performance of the Transaction Documents and the consummation of the transactions contemplated by the Transaction Documents will not (i) result in any violation or default under any material contract or agreement to
which the Company is a party or by which the Company or its assets are bound or any provision of the Company’s certificate of incorporation or by-laws or (ii) violate any instrument, agreement, judgment, decree or order, or any statute,
rule or regulation of any federal, state or local government or agency to which the Company is a party or its assets are subject, except as set forth in Section 4.3. 

4. Representations, Warranties and Covenants of Purchaser. Purchaser hereby represents, warrants and covenants that: 

4.1 Authorization. Purchaser has full power and authority to enter into the this Agreement, and this Agreement constitutes its valid
and legally binding obligation, enforceable against Purchaser in accordance with its terms, except (i) as limited by applicable bankruptcy, insolvency, reorganization, moratorium, fraudulent conveyance and transfer and other laws of general
application affecting enforcement of creditors’ rights generally, and (ii) as limited by laws relating to the availability of specific performance, injunctive relief or other equitable remedies. 

4.2 Private Placement. Purchaser understands and acknowledges that the sale of the Note to Purchaser under this Agreement is intended
to be exempt from registration under the Securities Act of 1933, as amended (the “Securities Act”), by virtue of Section 4(2) of the Securities Act and the applicable provisions of Regulation D promulgated thereunder
(“Regulation D”) and that the Company is relying on Purchaser’s representations and warranties in connection with the Regulation D exemption. In furtherance thereof, Purchaser represents and warrants to the Company as follows:

 (a) Purchaser is an “accredited investor” as defined in Rule 501(a) of Regulation D promulgated under the Securities Act. 

(b) Purchaser realizes that the basis for exemption would not be available if the sale of the Note was part of a plan or scheme to evade
registration provisions of the Securities Act or any applicable state or federal securities laws. 
 (c) Purchaser is acquiring the Note
solely for Purchaser’s own beneficial account, for investment purposes, and not with a view towards, or resale in connection with, any distribution of all or any portion of the Note. 

  
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 (d) Purchaser has the financial ability to bear the economic risk of Purchaser’s
investment, has adequate means for providing for its current needs and contingencies, and has no need for liquidity with respect to an investment in the Note. 

(e) Purchaser understands and accepts that the purchase of the Note is highly risky. Purchaser represents that it is able to bear any loss
associated with an investment in the Note, including loss of all or any portion of the Principal Amount and/or accrued and unpaid interest on the Note. 

(f) Purchaser has such knowledge and experience in financial and business matters as to be capable of evaluating the merits and risks of an
investment in the Note. 
 (g) Purchaser has had a reasonable opportunity to ask questions of and receive answers from a person or persons
acting on behalf of the Company concerning the sale of the Note and the business, financial condition, results of operations and prospects of the Company. Purchaser has had access to such information concerning the Company and the Note as it deems
necessary to make an informed investment decision concerning the purchase of the Note. 
 (h) Purchaser is unaware of, and is in no way
relying on, any form of general solicitation or general advertising, including, without limitation, any article, notice, advertisement or other communication published in any newspaper, magazine or similar media or broadcast over television or
radio, or electronic mail over the Internet, in connection with the sale of the Note and is not purchasing the Note and did not become aware of the sale of the Note through or as a result of any seminar or meeting to which Purchaser was invited by,
or any solicitation of a subscription by, a person not previously known to Purchaser in connection with investments in securities generally. 

(i) Purchaser represents that it is not relying on (and will not at any time rely on) any communication (written or oral) of the Company, as
investment advice or as a recommendation to purchase the Note, it being understood that information and explanations related to the terms and conditions of the Note shall not be considered investment advice or a recommendation to purchase the Note.

 (j) Purchaser confirms that the Company has not (i) given any guarantee or representation as to the potential success, return,
effect or benefit (either legal, regulatory, tax, financial, accounting or otherwise) of investment in the Note or (ii) made any representation to Purchaser regarding the legality of an investment in the Note under applicable legal investment
or similar laws or regulations. In deciding to purchase the Note, Purchaser is not relying on the advice or recommendations of the Company and Purchaser has made its own independent decision that the investment in the Note is suitable and
appropriate for Purchaser. 
 (k) In entering into this Agreement and purchasing the Note, Purchaser is relying only on the representations
and warranties of the Company set forth in Section 3 of this Agreement and specifically disclaims that it is relying on or has relied on any representations, warranties or statements that may have been made by any other person. 

  
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 (l) Purchaser understands that no federal or state agency has passed upon the merits or risks of
an investment in the Note or made any finding or determination concerning the fairness or advisability of this investment. 
 4.3
Usury. Purchaser understands, acknowledges and accepts that the 200% interest rate on the Note may exceed the maximum rate of interest permissible under any applicable law at any time and that as a result Purchaser may not receive all or
any portion of the interest to which it would otherwise be entitled pursuant to the terms of the Note, and may incur civil or criminal liability therefor.  

4.4 Restricted Securities. Purchaser understands that the Note is characterized as a “restricted security” under the federal
securities laws inasmuch as it is being acquired from the Company in a transaction not involving a public offering and that under such laws and applicable regulations the Note may be resold without registration under the Securities Act only in
certain limited circumstances. In the absence of an effective registration statement covering the Note or an available exemption from registration under the Securities Act, the Note must be held indefinitely. In this connection, Purchaser represents
that it is familiar with and understands the resale limitations imposed thereby and by the Securities Act. 
 4.5 Restrictions on
Transfer. 
 (a) In addition to the restrictions stated in Section 5.2 below, Purchaser agrees not to make any disposition of all
or any portion of the Note unless and until: 
 (i) There is then in effect a registration statement under the Securities Act, covering
such proposed disposition and such disposition is made in accordance with such registration statement; or 
 (ii) (A) The transferee has
agreed in writing to be bound by the terms of all of the Transaction Documents, (B) Purchaser shall have notified the Company of the proposed disposition and shall have furnished the Company with a detailed statement of the circumstances
surrounding the proposed disposition, (C) the Company shall have reasonably approved the proposed disposition, and (D) if reasonably requested by the Company, Purchaser shall have furnished the Company with an opinion of counsel,
reasonably satisfactory to the Company, that such disposition will not require registration of proposed transaction involving the Note under the Securities Act. 

(b) The Note shall be stamped or otherwise imprinted with a legend substantially similar to the following (in addition to any legend required
under applicable state securities laws or as provided elsewhere in this Agreement): 
 THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN
REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), AND MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED, ASSIGNED, PLEDGED OR HYPOTHECATED UNLESS AND UNTIL REGISTERED UNDER THE ACT OR UNLESS GEOVIC MINING CORP. (THE
“COMPANY”) HAS RECEIVED AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO THE COMPANY AND ITS COUNSEL THAT SUCH REGISTRATION IS NOT REQUIRED. THE TRANSFER OF THE SECURITIES 

  
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REPRESENTED BY THIS CERTIFICATE IS SUBJECT TO THE CONDITIONS SPECIFIED IN THE NOTE PURCHASE AGREEMENT, DATED AS OF DECEMBER     , 2013, BY AND AMONG THE COMPANY AND PURCHASER
(AS DEFINED THEREIN), AS AMENDED AND MODIFIED FROM TIME TO TIME. A COPY OF SUCH CONDITIONS SHALL BE FURNISHED BY THE COMPANY UPON WRITTEN REQUEST AND WITHOUT CHARGE. 

4.6 Tax and Legal Advisors. Purchaser has reviewed with its own tax and legal advisors the federal, state and local tax consequences
and legal aspects of this investment, where applicable, and the transactions contemplated by the Transaction Documents. Purchaser is relying solely on such advisors and not on any statements or representations of the Company or any of its agents.
Purchaser understands that Purchaser (and not the Company) shall be responsible for Purchaser’s own tax liability that may arise as a result of this investment or the transactions contemplated by this Agreement. 

5. Miscellaneous. 
 5.1
Survival. The representations, warranties and covenants of the Company and Purchaser in this Agreement shall survive the execution and delivery of this Agreement. 

5.2 Successors and Assigns. Purchaser may not assign any of its rights or obligations under this Agreement or the Note without the
prior written consent of the Company, and the Company shall not assign any of its rights or obligations hereunder without the prior written consent of Purchaser. Subject to the foregoing, the terms and conditions of this Agreement shall inure to the
benefit of and be binding upon the permitted successors and assigns of the Parties (including any permitted transferees of the Note). Nothing in this Agreement, express or implied, is intended to confer upon any Party, other than the Parties hereto
or their respective successors and assigns, any rights, remedies, obligations or liabilities under or by reason of this Agreement, except as expressly provided in this Agreement. Any permitted successor or assignee of Purchaser shall be treated as a
“Purchaser” for all purposes hereunder. 
 5.3 Governing Law; Submission to Jurisdiction. This Agreement shall be governed
by and construed in accordance with the domestic laws of the State of Delaware, without giving effect to any choice of law or conflict of law provision or rule (whether of the State of Delaware or any other jurisdiction) that would cause the
application of the laws of any jurisdiction other than the State of Delaware. The Delaware Court of Chancery shall have exclusive jurisdiction over any and all disputes, whether in law or equity, arising out of or relating to this Agreement, and the
Parties consent to and agree to submit to the exclusive jurisdiction of such court; provided, however, that if the Delaware Court of Chancery determines that it does not have jurisdiction, the Parties consent to and agree to submit to
the exclusive jurisdiction of the state or federal courts located within the State of Delaware. 
 5.4 Titles and Subtitles. The
titles and subtitles used in this Agreement are used for convenience only and are not to be considered in construing or interpreting this Agreement. 

5.5 Notices. All notices required or permitted hereunder shall be in writing and shall be deemed effectively given: (i) upon
personal delivery to the Party to be notified, (ii)

  
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when sent by email if sent during normal business hours of the recipient, if not, then on the next business day; (iii) five days after having been sent by registered or certified mail,
return receipt requested, postage prepaid; or (iv) one day after deposit with a nationally recognized overnight courier, specifying next day delivery, with written verification of receipt. All communications shall be sent to the address on the
signature page hereof or at such other address as such Party may designate by ten days advance written notice to the other parties hereto. 

5.6 Finder’s Fee. Each Party represents that it neither is nor will be obligated for any finders’ fee or commission in
connection with this transaction. Each Party agrees to indemnify and to hold harmless the other Party from any liability for any commission or compensation in the nature of a finders’ fee (and the costs and expenses of defending against such
liability or asserted liability) for which such Party or any of its officers, members, agents, employees or representatives is responsible. 

5.7 Amendments and Waivers. Any term of this Agreement may be amended and the observance of any term of this Agreement may be waived
(either generally or in a particular instance and either retroactively or prospectively), only with the prior written consent of the Company and Purchaser. 

5.8 Severability. If one or more provisions of this Agreement are held to be unenforceable under applicable law, such provision shall
be excluded from this Agreement and the balance of the Agreement shall be interpreted as if such provision were so excluded and shall be enforceable in accordance with its terms. 

5.9 Entire Agreement. This Agreement, the Transaction Documents and the documents referred to herein and therein constitute the entire
agreement between the Parties and no Party shall be liable or bound to any other Party in any manner by any warranties, representations or covenants except as specifically stated in the Transaction Documents. 

5.10 Counterparts. This Agreement may be executed in one or more counterparts, each of which, when executed, will be deemed to be an
original and all of which, when taken together, will be deemed to constitute one and the same instrument. A signed copy of this Agreement delivered by email, facsimile or other means of electronic transmission shall be deemed to have the same legal
effect as delivery of an original signed copy of this Agreement. 
 [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 

  
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 IN WITNESS WHEREOF, the Parties have executed this Agreement as of the Effective Date. 

 

					
	COMPANY:
	
	GEOVIC MINING CORP.
		
	By:	 	  

	Name:	 	Michael T. Mason
	Title:	 	Chief Executive Officer

 
					
		
	Address:	 	5500 E. Yale Avenue, Suite 302
		 	Denver, Colorado 80222
		 	Attention: Chief Financial Officer
		 	Email: ghill@geovic.net
	
	PURCHASER:
	
	  

		
	By:	 	  

	Name:	 	  

	Title:	 	  

		
	Address:	 	  

		 	  

		 	Attention:	 	  

		 	Email:	 	  

 [SIGNATURE PAGE TO NOTE PURCHASE AGREEMENT] 

 EXHIBIT A 

Form of Promissory Note 
 THE
SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), AND MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED, ASSIGNED, PLEDGED OR HYPOTHECATED UNLESS AND UNTIL REGISTERED UNDER THE
ACT OR UNLESS GEOVIC MINING CORP. (THE “COMPANY”) HAS RECEIVED AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO THE COMPANY AND ITS COUNSEL THAT SUCH REGISTRATION IS NOT REQUIRED. THE TRANSFER OF THE SECURITIES REPRESENTED BY THIS
CERTIFICATE IS SUBJECT TO THE CONDITIONS SPECIFIED IN THE NOTE PURCHASE AGREEMENT, DATED AS OF DECEMBER     , 2013, BY AND AMONG THE COMPANY AND PURCHASER (AS DEFINED THEREIN), AS AMENDED AND MODIFIED FROM TIME TO TIME. A COPY OF
SUCH CONDITIONS SHALL BE FURNISHED BY THE COMPANY UPON WRITTEN REQUEST AND WITHOUT CHARGE. 
 PROMISSORY NOTE 

 

			
	Principal Amount: $            	  	December     , 2013

 FOR VALUE RECEIVED, the undersigned, Geovic Mining Corp., a Delaware corporation (the
“Company”), hereby promises to pay to the order of                     , a
                    (“Purchaser”), at the offices of Purchaser, located at
                                         
       , on the Maturity Date, in lawful money of the United States of America in immediately available funds, the Principal Amount of $             (the
“Principal Amount”) and Interest thereon from the date of this Note at the Interest Rate. 
 Capitalized terms used herein
and not otherwise defined shall have the meanings assigned to such terms in the Note Purchase Agreement, dated as of December     , 2013, by and between the Company and Purchaser, as amended, modified, restated or supplemented
from time to time (the “Note Purchase Agreement”). 
 1. Note Interest. Except as otherwise provided in this Note,
interest (“Interest”) shall accrue on the outstanding Principal Amount of the Note at the rate of two hundred percent (200%) per annum (the “Interest Rate”) and shall be due and payable on the Maturity Date (as
defined in Section 2). 
 2. Note Maturity. The maturity date of this Note shall be the first anniversary of the date of this
Note (the “Maturity Date”). 
 3. Prepayment. The Company may prepay this Note, in whole or in part and without
penalty, at any time upon 30 calendar days’ prior written notice to Purchaser. The Company shall prepay this Note, in whole (but not in part) and without penalty, within five business days following the consummation of the acquisition by
Jiangxi Rare Metals Tungsten Holdings Group Company Ltd or by any other entity of the Company’s 60.5% interest in Geovic Cameroon, PLC, or the consummation of the acquisition of the Company by another company. All prepayments shall be applied
first to accrued but unpaid Interest, and then to the unpaid Principal Amount. 

 4. Interest. If the effective rate of Interest which would otherwise be payable under this
Note would exceed the maximum non-usurious rate of interest permitted under applicable law (the “Highest Lawful Rate”), or if the Purchaser shall receive monies that are deemed to constitute interest which would increase the effective rate
of Interest payable under this Note to a rate in excess of the Highest Lawful Rate, (i) all such sums shall be spread over the entire life of the Note, (ii) to the extent required, the amount of Interest which would otherwise be payable
under the Note shall be reduced to the maximum amount allowed under applicable law, and (iii) any Interest paid by the Company in excess of the Highest Lawful Rate shall, at the option of the Purchaser, be either refunded to the Company or
credited on the Principal Amount. 
 5. Events of Default. In case of the occurrence of any of the following events (each, an
“Event of Default”): 
 (a) the Company shall fail to pay the Principal Amount or Interest under this Note when due and
payable, whether at the Maturity Date, by acceleration or otherwise, and shall not have cured such failure to pay within thirty days; 
 (b)
any representation or warranty made by the Company in the Note Purchase Agreement shall be false or misleading in any material respect on the Effective Date; 

(c) the Company shall (i) voluntarily commence any proceeding or file any petition or any notice of its intent to commence or file any
such proceeding, petition or proposal seeking relief under Title 11 of the United States Code or any other federal or state bankruptcy, insolvency or similar law, (ii) apply for or consent to the appointment of a receiver, trustee, custodian,
sequestrator or similar official for any such Person (as defined below) or for any substantial part of its property or assets, (iii) make a general assignment for the benefit of creditors, or (iv) take any corporate or stockholder action
in furtherance of any of the foregoing; “Person” means an individual, a partnership, a corporation, a limited liability company, an association, a joint stock company, a trust, a joint venture, an unincorporated organization or
governmental entity or any department, agency or political subdivision thereof; or 
 (d) an involuntary proceeding shall be commenced or an
involuntary petition shall be filed in a court of competent jurisdiction seeking (i) relief in respect of the Company or of any substantial part of the property or assets thereof, under Title 11 of the United States Code or any other federal or
state bankruptcy, insolvency or similar law, (ii) the appointment of a receiver, trustee, custodian, sequestrator or similar official for the Company or any substantial part of its property or (iii) the winding-up or liquidation of the
Company, and such proceeding, petition or order shall continue unstayed and in effect for a period of 90 consecutive days; 
 then, upon the occurrence of
any such Event of Default (other than an Event of Default described in Section 5(c) or (d) above, in which case the Principal Amount of this Note and all accrued and unpaid Interest automatically shall become immediately due and payable in
full), at any time thereafter during the continuation of such Event of Default, Purchaser may elect, by written notice to the Company, to declare this Note to be forthwith due and payable, whereupon the

  
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entire unpaid Principal Amount of this Note, together with accrued and unpaid Interest, shall become forthwith due and payable, without presentment, demand, protest or any other notice of any
kind, all of which are hereby expressly waived by the Company, anything in the Note Purchase Agreement or this Note to the contrary notwithstanding. In that event, Purchaser shall be entitled to exercise any and all other remedies provided hereunder
and under this Note or available at law or in equity. 
 6. Transfer. Purchaser shall not dispose of all or any portion of this Note
without the prior written consent of the Company, and then only in compliance with all of the provisions of Section 4.5 of the Note Purchase Agreement. 

7. Waiver. The Company hereby waives diligence, presentment, demand, protest and notice of any kind whatsoever, other than as expressly
required by the Note Purchase Agreement. The nonexercise by Purchaser of any of its rights hereunder or under the Note Purchase Agreement in any particular instance shall not constitute a waiver thereof in that or any subsequent instance. 

8. Governing Law; Submission to Jurisdiction. This Note shall be governed by and construed in accordance with the domestic laws of the
State of Delaware, without giving effect to any choice of law or conflict of law provision or rule (whether of the State of Delaware or any other jurisdiction) that would cause the application of the laws of any jurisdiction other than the State of
Delaware. The Delaware Court of Chancery shall have exclusive jurisdiction over any and all disputes, whether in law or equity, arising out of or relating to this Note, and the Company and Purchaser consent to and agree to submit to the exclusive
jurisdiction of such court; provided, however, that if the Delaware Court of Chancery determines that it does not have jurisdiction, the Company and Purchaser consent to and agree to submit to the exclusive jurisdiction of the state or
federal courts located within the State of Delaware. 
 9. Invalidity. In the event that any one or more of the provisions of
this Note shall, for any reason, be held to be invalid, illegal or unenforceable in any respect, such invalidity, illegality or unenforceability shall not affect any other provision of this Note.  

* * * 
  

			
	GEOVIC MINING CORP.
		
	By:	 	  

	Name:	 	  

	Title:	 	  

  
 3EX-10.1

 Exhibit 10.1 

Execution Copy 

AMENDED AND RESTATED EMPLOYMENT AGREEMENT 

AMENDED AND RESTATED EMPLOYMENT AGREEMENT (“Agreement”) dated March 21, 2014 between CONSOL Energy Inc., a Delaware
corporation (the “Company”), and J. Brett Harvey (the “Executive”). 
 WHEREAS, the Executive presently
serves as a Director on the Company’s Board of Directors (the “Board”) and is employed as the Chairman and Chief Executive Officer of the Company; 

WHEREAS, the Executive and the Company entered into an amended and restated Employment Agreement dated as of December 2, 2008 (the
“Prior Employment Agreement); 
 WHEREAS, the Company and the Executive entered into a Change in Control Severance Agreement,
dated as of December 2, 2008 (the “Change in Control Agreement”); and 
 WHEREAS, the Company and the Executive desire
to amend and restate the Prior Employment Agreement in connection with the Executive’s transition from the role of Chief Executive Officer to the role of Executive Chairman. 

In order to effect the foregoing, the Company and the Executive wish to enter into this Agreement on the terms and conditions set forth below.
Accordingly, in consideration of the premises and the respective covenants and agreements of the parties herein contained, and intending to be legally bound hereby, the parties hereto agree as follows: 

ARTICLE 1 
 DEFINITIONS 

SECTION 1.01. Definitions. For purposes of this Agreement, the following terms have the meanings set forth below: 

“Affiliate” means (i) any entity that, directly or indirectly, is controlled by the Company, (ii) any entity in
which the Company has a significant equity interest, and (iii) an affiliate of the Company as defined in Rule 12b-2 promulgated under Section 12 of the Securities Exchange Act of 1934, as amended. 

“Base Salary” has the meaning set forth in Section 4.01. 

“Cause” means (a) gross negligence in the performance of the Executive’s duties which results in material financial
harm to the Company; (b) the Executive’s conviction of, or plea of guilty or nolo contendere to, (i) any felony, or (ii) any misdemeanor involving fraud, embezzlement or theft; (c) the Executive’s intentional failure or
refusal to perform his duties and responsibilities with the Company, without the same being corrected within fifteen (15) days after being given written notice thereof; (d) the material breach by the Executive of any of the covenants
contained in Articles 6 or 7 of this Agreement; (e) the Executive’s willful violation of any material provision of the Company’s code of conduct for executives and management employees; or (f) the Executive’s willful
engagement in conduct that is demonstrably and materially injurious to the Company, monetarily or otherwise. The Executive may be terminated for Cause hereunder only by majority vote of all members of the Board (other than the Executive), which vote
is communicated to the Executive in writing. 
 “COBRA” has the meaning set forth in Section 5.05. 

“COBRA Continuation Period” has the meaning set forth in Section 5.05. 

“Code” means the Internal Revenue Code of 1986, as amended. 

 “Date of Termination” has the meaning set forth in Section 5.07. 

“Employment Period” has the meaning set forth in Section 2.01. 

“Good Reason” means, without the Executive’s written consent, (a) the material diminution of the Executive’s
duties or responsibilities, including the assignment of any duties and responsibilities materially inconsistent with his position; (b) a material reduction in the Executive’s Base Salary; (c) a material reduction in the
Executive’s annual target bonus opportunity (excluding any reduction that is generally applicable to all or substantially all executive officers of the Company); (d) a material reduction in the overall level of employee benefits (including
long-term incentive opportunities) provided to the Executive (excluding any reduction that is generally applicable to all or substantially all executive officers of the Company); (e) the Company breaches this Agreement by failing to obtain a
written assumption of this Agreement by any person acquiring all or substantially all of the assets of the Company prior to such acquisition; (f) the relocation of the Executive’s principal work location to a location more than fifty
(50) miles from Pittsburgh, Pennsylvania; or (g) the Company giving the Executive notice of nonextension of the term of this Agreement in accordance with Section 5.01 solely at either the end of the initial three year term or the end
of the first one year extension of the term under Section 5.01 (but, for the avoidance of doubt, not at the end of any further extension of the term). Notwithstanding the forgoing, in order for the Executive to terminate for Good Reason:
(a) the Executive must give written notice to the Company of his intention to terminate his employment for Good Reason within sixty (60) days after the event or omission which constitutes Good Reason, and any failure to give such written
notice within such period will result in a waiver by the Executive of his right to terminate for Good Reason as a result of such act or omission, (b) the event must remain uncorrected by the Company for thirty (30) days following such
notice (the “Notice Period”), and (C) such termination must occur within sixty (60) days after the expiration of the Notice Period. 

“Notice of Termination” has the meaning set forth in Section 5.06. 

“Person” shall have the meaning ascribed to such term in Section 3(a)(9) of the Securities Exchange Act of 1934, as
amended and used in Sections 13(d) and 14(d) thereof, including a “group” as defined in Section 13(d). 
 “Permanent
Disability” means the Executive becomes permanently disabled within the meaning of the long term disability plan of the Company applicable to the Executive under circumstances whereby the Executive is entitled to receive immediate benefits
thereunder. 
 “Reimbursable Expenses” has the meaning set forth in Section 4.05. In addition, any Reimbursable
Expense shall be made only in accordance with the following conditions: 
 (a) The reimbursement of any eligible expense shall be made on or
before the last day of the Executive’s taxable year following the taxable year in which the expense was incurred; and 
 (b) The right
to reimbursement shall not be subject to liquidation or exchange for another benefit. 
 “Release” has the meaning set
forth in Section 5.02. 
 “Restricted Territory” means the counties, towns, cities, states or other political
subdivisions of any country in which the Company or its Affiliates operates or does business. 
 “Start Date” has the
meaning set forth in Section 2.01. 
 “Retirement Date” has the meaning set forth in Section 5.01. 

ARTICLE 2 
 EMPLOYMENT 

SECTION 2.01. Employment. The Company shall continue to employ the Executive, and the Executive shall continue employment with the
Company, upon the terms and conditions set forth in this Agreement for the period beginning May 7, 2014 (the date of the beginning of such period to be referred to herein as the “Start Date”) and ending as provided in
Section 5.01 (the “Employment Period”). 

  
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 ARTICLE 3 

POSITION AND DUTIES 
 SECTION
3.01. Position and Duties. During the Employment Period, the Executive shall be employed as Executive Chairman of the Company. In such capacity, the Executive shall have such responsibilities, powers and duties as may from time to time be
prescribed by the Board, consistent with the role of Executive Chairman, which may include, in addition to the duties of Chairman as currently performed: (i) the orderly transition of the responsibilities and duties of the chief executive
officer to the new chief executive officer, (ii) maintaining and transitioning to the new chief executive officer customer, commercial, financial, shareholder and other relationships which are important to the Company, (iii) providing
advice and guidance to the new chief executive officer, as requested by the new chief executive officer, (iv) assisting with investor relations activities of the Company, and (v) providing strategy insight and guidance to the Company.
During the Employment Period, the Executive shall devote as much of his working time and efforts to the business and affairs of the Company and its subsidiaries as is necessary to effectively carry out the foregoing duties and responsibilities. The
Executive shall not directly or indirectly render any services of a business, commercial or professional nature to any other Person or organization, whether for compensation or otherwise, without the prior written consent of the Company; provided,
however, that nothing in this Agreement shall preclude the Executive from (i) managing his personal investments, (ii) serving as a director of a not-for-profit organization, (iii) serving as a director of any company on whose board he
serves as of the date of this Agreement, or (iv) serving as a director of any company whose securities are registered under section 12 of the Securities Exchange Act of 1934, as amended, so long as such activities do not interfere with the
Executive’s performance of his duties hereunder. 
 ARTICLE 4 

BASE SALARY AND BENEFITS 

SECTION 4.01. Base Salary. During the Employment Period, the Executive’s base salary will be not less than $750,000 per annum (the
“Base Salary”). The Base Salary will be payable in accordance with the normal payroll practices of the Company. Annually, during the Employment Period, the Board shall review with the Executive his job performance and
compensation, and if deemed appropriate by the Board, in its discretion, the Executive’s Base Salary may be increased but not decreased and, if so increased, such adjusted Base Salary shall become the new Base Salary and shall not thereafter
during the Employment Period be decreased. 
 SECTION 4.02. Bonuses. During the Employment Period, in addition to the Base Salary,
the Executive shall be eligible to participate in an annual bonus plan on terms established from time to time by the Board; provided, however, that (i) the Executive’s target annual bonus will be not less than 175% of his Base Salary, and
(ii) the Executive’s bonus will be paid at the same time as bonuses are paid for other senior executive officers. 
 SECTION 4.03.
Long Term Incentive Plans. For the portion of the Employment Period after December 31, 2014, the Executive may, at the discretion and to the extent determined by the Board and the Compensation Committee of the Board, be eligible to
participate in any long term equity incentive compensation plan maintained by the Company on the terms established from time to time by the Board or the Compensation Committee of the Board, as applicable. 

SECTION 4.04. Benefits. During the Employment Term, the Executive shall be entitled to participate in all employee benefit and fringe
benefit plans and arrangements made available by the Company to its executives and key management employees upon the terms and subject to the conditions set forth in the applicable plan or arrangement; provided, however, that the Executive will be
credited with eleven (11) years of additional service credit under the Company’s Employee Retirement Plan (the “ERP”) and the Company’s retiree medical plan, 

  
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representing the Executive’s years of service at PacifiCorp Energy Inc. and its affiliates (“PacifiCorp”); provided, further however, that, to the extent such additional
service credit cannot be provided under the ERP, the Company shall provide such benefits under a supplemental retirement plan. Notwithstanding the foregoing, there shall be deducted from the benefits payable to the Executive under the ERP or a
supplemental retirement plan an amount equal to the pension benefits payable to the Executive pursuant to any pension benefit plans of PacifiCorp. The Executive will be entitled to a maximum of five (5) weeks of paid vacation annually during
the Employment Period. 
 SECTION 4.05. Expenses. The Company shall reimburse the Executive for all reasonable expenses incurred by
him in the course of performing his duties under this Agreement which are consistent with the Company’s policies in effect from time to time with respect to travel, entertainment and other business expenses (“Reimbursable
Expenses”), subject to the Company’s requirements with respect to reporting and documentation of expenses. In addition, the Company shall reimburse the Executive for all reasonable expenses incurred by him for legal advice in
finalizing this Agreement, subject to a maximum of $5,000, within 90 days of the signing of this Agreement. 
 ARTICLE 5 

TERM AND TERMINATION 
 SECTION
5.01. Term. The Employment Period will terminate on the later to occur of May 7, 2015 or the date of the annual shareholders meeting in 2015; provided, however, that at the election of the Board and the Executive, this Agreement shall
renew for one (1) additional year (the “Retirement Date”). 
 SECTION 5.02. Termination for Good Reason or Without
Cause. If the Employment Period shall be terminated prior to the Retirement Date (a) by the Executive for Good Reason, or (b) by the Company without Cause, provided the Executive has delivered a signed Release of claims reasonably
satisfactory to the Company (the “Release”) to the Company’s General Counsel within thirty (30) days of the Date of Termination and not revoked the Release within the seven-day revocation period
provided for in the Release, the Executive shall be paid solely (i) Base Salary through the Date of Termination and any annual bonus awarded in accordance with the Company’s bonus program but not yet paid; (ii) an amount equal to two
(2) times the Base Salary and two (2) times the target annual bonus amount, provided that the Executive shall be entitled to any unpaid amounts only if the Executive has not breached and does not breach the provisions of Sections 6.01 and
7.01 hereof; (iii) a pro-rata portion of the Executive’s target bonus for the year of termination, calculated by reference to the number of days during the bonus year during which he was employed by the Company; (iv) payment for all
accrued, but unused, vacation time through the Date of Termination; (v) payment for reasonable outplacement assistance services actually incurred by the Executive associated with seeking another employment position within 12 months of the Date
of Termination; and (vi) promptly following any such termination, the Executive shall be reimbursed all Reimbursable Expenses incurred by the Executive prior to such termination. The amounts described in clauses (i), (ii), and (iv) above
will be paid in a single lump sum within ten (10) days after the Date of Termination; provided, however, that no amount shall be paid until expiration of the 7-day statutory revocation period with respect to the release referred to in this
Section 5.02 above. The amount described in clause (iii) shall be paid in accordance with the terms of the applicable plan subject to the attainment of the performance goals applicable to such bonus award. The amount described in clause
(v) shall be paid no later than the end of the calendar year following the year in which such expense is incurred by the Executive. The terms of all Company restricted stock units, stock options and other equity based awards will be as set
forth in the applicable award agreements, and medical benefits shall be as provided in Section 5.05 below. The Executive’s entitlements under any other benefit plan or program shall be as determined thereunder, except that severance
benefits shall not be payable under any other plan or program. Notwithstanding the foregoing, if a termination of employment results in severance benefits being paid under the Change in Control Agreement (or any successor thereto), no amounts or
benefits will be paid to the Executive under this Section 5.02 or 5.05. 

  
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 SECTION 5.03. Termination Due to Death or Permanent Disability. If
the Employment Period shall be terminated prior to the Retirement Date due to the Executive’s death or Permanent Disability, the Executive (or his heirs, estate or legal representative) shall be entitled solely to (i) Base Salary through
the Date of Termination and any annual bonus awarded in accordance with the Company’s bonus program which has been earned but not yet paid; (ii) a pro-rata portion of the Executive’s target bonus for the year of termination,
calculated by reference to the number of days during the bonus year during which he was employed by the Company; (iii) payment for all accrued, but unused, vacation time through the Date of Termination; and (iv) promptly following any such
termination, the Executive (or his heirs, estate of legal representative) shall be reimbursed all Reimbursable Expenses incurred by the Executive prior to such termination. The amounts described in clauses (i), (ii) and (iii) above will be
paid in a single lump sum within ten (10) days after the Date of Termination. The terms of all Company restricted stock units, stock options and other equity based awards will be as set forth in the applicable award agreements, and the
Executive’s entitlements under any other benefit plan or program shall be as determined thereunder 
 SECTION 5.04.
Termination for Cause or Other Than Good Reason. If the Employment Period shall be terminated prior to the Retirement Date (a) by the Company for Cause or (b) by the Executive other than for Good Reason and not due to the
Executive’s death or Permanent Disability, the Executive shall be entitled, within ten (10) days following the Date of Termination, to receive solely (i) the Base Salary through the Date of Termination; (ii) payment for all
accrued, but unused, vacation time through the Date of Termination; and (iii) reimbursement of all Reimbursable Expenses incurred by the Executive prior to such termination. The Executive’s rights under any benefit plan or program shall be
as set forth thereunder. 
 SECTION 5.05. Medical Benefits. (a) If the Employment Period is terminated as a result of a
termination of employment as specified in Section 5.02, the Executive and his dependents shall continue to receive his medical insurance benefits from the Company, on terms substantially comparable to the terms of the Company’s medical
plan, for a period equal to the lesser of (x) twenty four (24) months following the Date of Termination or (y) until the Executive is provided by another employer with benefits substantially comparable (with no preexisting condition
limitations) to the benefits provided by the Company’s medical plan. For purposes of enforcing this offset provision, the Executive shall have a duty to promptly inform the Company in writing as to the terms and conditions of any medical
benefits provided in connection with any subsequent employment. Notwithstanding the foregoing, the benefits provided in this Section 5.05 shall not in any way modify, limit, or waive any rights the Executive or his dependents may have with
respect to any retiree or other post-employment medical benefits, it being agreed that this Section 5.05 provides a minimum amount of coverage that must be provided, and not a replacement of any coverage to which the Executive or his dependents
may otherwise be entitled. 
 (b) The benefits set forth under Section 5.05(a) will be provided as follows: 

(1) The first eighteen months will be available through COBRA. If the Executive elects COBRA continuation coverage, the
Executive shall continue to participate in all medical insurance plans he was participating on the Date of Termination, and the Company shall pay the applicable premium and will annually impute income to the Executive for the fair market value of
the premium. To the extent that Executive had dependent coverage immediately prior to termination of employment, such continuation of benefits for Executive shall also cover Executive’s dependents for so long as Executive is receiving
benefits under this paragraph and such dependents remain eligible. The COBRA Continuation Period for medical insurance under this paragraph shall be deemed to run concurrent with the continuation period federally mandated by COBRA (generally 18
months), or any other legally mandated and applicable federal, state, or local coverage period for benefits provided to terminated employees under the medical plan. For purposes of this Agreement, (a) “COBRA”
means the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended, and (b) “COBRA Continuation Period” shall mean the continuation period for medical insurance to be provided under the terms of this
Agreement which shall commence on the first day of the calendar month following the month in which the date of termination falls and generally shall continue for an 18-month period. 

  
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 (2) Following the conclusion of the 18 month COBRA Continuation Period described
above, the Company will provide coverage as follows: 
 a) If the relevant medical plan is self insured (within the meaning
of Code Section 105(h)), and such plan permits coverage for the Executive, then the Company will continue to provide coverage under the plan for an additional six (6) months and will annually impute income to the Executive for the fair
market value of the premium. 
 b) If, however, the plan does not permit the continued participation following the end of the
COBRA Continuation Period as contemplated above, then the Company will reimburse Executive for the actual cost to Executive of any individual medical insurance policy obtained by Executive in accordance with the procedures set forth in subsection
(3) below. 
 (3) Reimbursement to the Executive pursuant to subsection (b) above will be available only to the extent that
(a) such expense is actually incurred for any particular calendar year and reasonably substantiated; (b) reimbursement shall be made no later than the end of the calendar year following the year in which such expense is incurred by the
Executive; (c) no reimbursement provided for any expense incurred in one taxable year will affect the amount available in another taxable year; and (d) the right to this reimbursement is not subject to liquidation or exchange for another
benefit. Notwithstanding the foregoing, no reimbursement will be provided for any expense incurred following the additional six (6) months, or for any expense that relates to coverage after such date or the original 24 month period contemplated
by Section 5.05(a). 
 SECTION 5.06. Notice of Termination. Any termination by the Company for Permanent Disability or Cause or
without Cause, or by the Executive with or without Good Reason shall be communicated by written Notice of Termination to the other party hereto. For purposes of this Agreement, a “Notice of Termination” shall mean a
notice which shall indicate the specific termination provision in this Agreement relied upon and shall set forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of employment under the provision indicated.

 SECTION 5.07. Date of Termination. “Date of Termination” shall mean if the Employment Period ends
prior to the Retirement Date: (a) as a result of a Permanent Disability, the next business day after a Notice of Termination is given following the Permanent Disability; (b) as a result of death, the date of death; and (c) for any
other reason, the later of the date the Notice of Termination is given or the end of any applicable correction period except as otherwise specifically provided herein. 

SECTION 5.08. No Duty to Mitigate. The Executive shall have no duty to seek new employment or other duty to mitigate following a
termination of employment as described in Section 5.02 above, and no compensation or benefits described in Section 5.02 shall be subject to reduction or offset on account of any subsequent compensation, other than as provided in
Section 5.05. 
 SECTION 5.09. Release. Notwithstanding any other provision hereof, the Executive shall not be required by the
Release to release claims that the Executive may have against the Company for reimbursement of ordinary and necessary business expenses incurred by him during the course of his employment, claims that arise after the effective date of the Release,
any rights the Executive may have to enforce Sections 5.02 of this Agreement, and claims for which the Executive is entitled to be indemnified under the Company’s charter, by-laws or under applicable law or pursuant to the Company’s
directors’ and officer’s liability insurance policies and Article 9 of this Agreement. 
 ARTICLE 6 

CONFIDENTIAL INFORMATION 

SECTION 6.01. Confidential Information and Trade Secrets. The Executive and the Company agree that certain materials, including, but
not limited to, information, data and other materials relating to customers, development programs, costs, marketing, trading, investment, sales activities, promotion credit and financial data, 

  
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manufacturing processes, financial methods, plans or the business and affairs of the Company and its Affiliates, constitute proprietary confidential information and trade secrets. Accordingly,
the Executive will not at any time during or after the Executive’s employment with the Company disclose or use for the Executive’s own benefit or purposes or the benefit or purposes of any Person, other than the Company and any of its
Affiliates, any proprietary confidential information or trade secrets. The foregoing obligations imposed by this Section 6.01 will not apply (i) in the course of the business of and for the benefit of the Company, (ii) if such
information has become, through no fault of the Executive, generally known to the public, or (iii) if the Executive is required by law to make disclosure (after giving the Company notice and an opportunity to contest such requirement). The
Executive agrees that upon termination of employment with the Company for any reason, the Executive will immediately return to the Company all memoranda, books, paper, plans, information, letters and other data, and all copies thereof or therefrom,
which in any way relate to the business of the Company and its Affiliates. The Executive further agrees that the Executive will not retain or use for the Executive’s account at any time any trade names, trademark or other proprietary business
designation used or owned in connection with the business of the Company or any of its Affiliates. 
 ARTICLE 7 

NONCOMPETITION 
 SECTION 7.01.
Noncompetition. (a) The Executive acknowledges and recognizes the highly competitive nature of the business of the Company and its Affiliates and accordingly agrees that during the term of the Executive’s employment and for a period
of two (2) years after the termination thereof: 
 (i) the Executive will not directly or indirectly engage in any business which is in
competition with any line of business conducted by the Company or any of its Affiliates, including, but not limited to, where such engagement is as an officer, director, proprietor, employee, partner, investor (other than as a holder of less than 1%
of the outstanding capital stock of a publicly traded corporation), consultant, advisor, agent or sales representative, in any Restricted Territory; 

(ii) the Executive will not perform or solicit the performance of services for any customer or client of the Company or any of its Affiliates;

 (iii) the Executive will not directly or indirectly induce any employee of the Company or any of its Affiliates to (1) engage in any
activity or conduct which is prohibited pursuant to this Section 7.01, or (2) terminate such employee’s employment with the Company or any of its Affiliates. Moreover, the Executive will not directly or indirectly employ or offer
employment (in connection with any business which is in competition with any line of business conducted by the Company or any of its Affiliates) to any person who was employed by the Company or any of its Affiliates unless such person shall have
ceased to be employed by the Company or any of its Affiliates for a period of at least twelve (12) months; and 
 (iv) the Executive
will not directly or indirectly assist others in engaging in any of the activities which are prohibited under clauses (i)-(iii) of this Section 7.01(a) above. 

(b) The covenant contained in Section 7.01(a)(i) above is intended to be construed as a series of separate covenants, one for each
county, town, city and state or other political subdivision of a Restricted Territory. Except for geographic coverage, each such separate covenant shall be deemed identical in terms to the covenant contained in the preceding subsections. If, in any
judicial proceeding, the court shall refuse to enforce any of the separate covenants (or any part thereof) deemed included in such subsections, then such unenforceable covenant (or such part) shall be deemed to be eliminated from this Agreement for
the purpose of those proceedings to the extent necessary to permit the remaining separate covenants (or portions thereof) to be enforced. 

(c) It is expressly understood and agreed that although the Executive and the Company consider the restrictions contained in this
Section 7.01 to be reasonable, if a final judicial determination is made by a court of competent jurisdiction that the time or territory or any other restriction contained in this Agreement is an

  
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unenforceable restriction against the Executive, the provisions of this Agreement shall not be rendered void but shall be deemed amended to apply as to such maximum time and territory and to such
maximum extent as such court may judicially determine or indicate to be enforceable. Alternatively, if any court of competent jurisdiction finds that any restriction contained in this Agreement is unenforceable, and such restriction cannot be
amended so as to make it enforceable, such finding shall not affect the enforceability of any of the other restrictions contained herein. 

ARTICLE 8 
 EQUITABLE RELIEF 

SECTION 8.01. Equitable Relief. The Executive acknowledges that (a) the covenants contained in Sections 6.01 and 7.01 hereof are
reasonable, (b) the Executive’s services are unique, and (c) a breach or threatened breach by him of any of his covenants and agreements with the Company contained in Sections 6.01 or 7.01 hereof could cause irreparable harm to the
Company for which it would have no adequate remedy at law. Accordingly, and in addition to any remedies which the Company may have at law, in the event of an actual or threatened breach by the Executive of his covenants and agreements contained in
Sections 6.01 or 7.01 hereof, the Company shall be entitled as a matter of right to an injunction, without a requirement to post bond, out of any court of competent jurisdiction, restraining any violation or further violation of such promises by the
Executive or the Executive’s employees, partners or agents. 
 ARTICLE 9 

INDEMNIFICATION 
 SECTION 9.01.
(a) Indemnification. The Company agrees that if the Executive is made a party, or is threatened to be made a party, to any action, suit or proceeding, whether civil, criminal, administrative or investigative, by reason of the fact that
he is or was a director, officer or employee of the Company or is or was serving at the request of the Company as a director, officer, member, employee or agent of another corporation, partnership, joint venture, trust or other enterprise, including
service with respect to employee benefit plans, the Executive shall be indemnified and held harmless by the Company to the fullest extent permitted or authorized by applicable law and the Company’s certificate of incorporation or bylaws,
against all cost, expense, liability and loss (including, without limitation, attorney’s fees, judgments, fines, ERISA excise taxes or penalties and amounts paid or to be paid in settlement) reasonably incurred or suffered by the Executive in
connection therewith, and such indemnification shall continue as to the Executive even if he has ceased to be a director, member, employee or agent of the Company or other entity and shall inure to the benefit of the Executive’s heirs,
executors and administrators. 
 (b) D&O Insurance. During the Employment Period, the Company shall keep in place a
directors’ and officers’ liability insurance policy (or policies) providing comprehensive coverage to the Executive to the same extent that the Company provides such coverage for any other officer or director of the Company and, after the
expiration of the Employment Period, the Executive shall be entitled to such coverage to the same extent that the Company provides such coverage for any other current or former officer or director of the Company. 

ARTICLE 10 
 MISCELLANEOUS 

SECTION 10.01. Remedies. The Company will have all rights and remedies set forth in this Agreement, all rights and remedies which the
Company has been granted at any time under any other agreement or contact and all of the rights which the Company has under any law. The Company will be entitled to enforce such rights specifically, without posting a bond or other security, to
recover damages by reason of any breach of any 

  
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provision of this Agreement and to exercise all other rights granted by law. The failure of the Company to enforce at any time any provision of this Agreement shall in no way be construed to be a
waiver of such provision or of any other provision hereof. 
 SECTION 10.02. Consent to Amendments. The provisions of this Agreement
may be amended or waived only by a written agreement executed and delivered by the Company and the Executive. No other course of dealing between the parties to this Agreement or any delay in exercising any rights hereunder will operate as a waiver
of any rights of any such parties. Notwithstanding the foregoing or any provisions of this Agreement to the contrary, the Company may at any time, with the consent of the Executive, modify or amend any provision of this Agreement or take any other
action, to the extent necessary or advisable to ensure that this Agreement complies with or is exempt from Section 409A of the Code and that any payments or benefits under this Agreement are not subject to interest and penalties under
Section 409A of the Code. 
 SECTION 10.03. Successors and Assigns. All covenants and agreements contained in this Agreement by
or on behalf of any of the parties hereto will bind and inure to the benefit of the respective successors and assigns of the parties hereto whether so expressed or not, provided that the Executive may not assign his rights or delegate his
obligations under this Agreement without the written consent of the Company and the Company may assign this Agreement only to a successor to all or substantially all of its assets. 

SECTION 10.04. Severability. Whenever possible, each provision of this Agreement will be interpreted in such manner as to be effective
and valid under applicable law, but if any provision of this Agreement is held to be prohibited by or invalid under applicable law, such provision will be ineffective only to the extent of such prohibition or invalidity, without invalidating the
remainder of this Agreement. 
 SECTION 10.05. Counterparts. This Agreement may be executed simultaneously in two or more
counterparts, any one of which need not contain the signatures of more than one party, but all of which counterparts taken together will constitute one and the same agreement. 

SECTION 10.06. Descriptive Headings. The descriptive headings of this Agreement are inserted for convenience only and do not constitute
a part of this Agreement. 
 SECTION 10.07. Notices. All notices, demands or other communications to be given or delivered under or
by reason of the provisions of this Agreement will be in writing and will be deemed to have been given when delivered personally to the recipient, two (2) business days after the date when sent to the recipient by reputable express courier
service (charges prepaid) or four (4) business days after the date when mailed to the recipient by certified or registered mail, return receipt requested and postage prepaid. Such notices, demands and other communications will be sent to the
Executive and to the Company at the addresses set forth below. 
  

			
	If to the Executive:	  	To the last address delivered to the Company by the Executive in the manner set forth herein.

			
		
	If to the Company:	  	 CONSOL Energy Inc.
 CNX Center

1000 CONSOL Energy Drive
 Canonsburg, PA 15317

Attn: Corporate Secretary

 or to such other address or to the attention of such other person as the recipient party has specified by prior written notice
to the sending party. 
 SECTION 10.08. Withholding. The Company may withhold from any amounts payable under this Agreement such
federal, state, local or foreign taxes as shall be required to be withheld pursuant to any applicable law or regulation. 

  
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 SECTION 10.09. No Third Party Beneficiary. This Agreement will not confer any rights or
remedies upon any person other than the Company, the Executive and their respective heirs, executors, successors and assigns. 
 SECTION
10.10. Effectiveness; Entire Agreement. This Agreement shall become effective on the Start Date. Prior to the Start Date, the Prior Employment Agreement shall remain in full force and effect in accordance with its terms. On and after the
Start Date, this Agreement constitutes the entire agreement among the parties and supersedes any prior understandings, agreements or representations by or among the parties, written or oral, that may have related in any way to the subject matter
hereof, including, without limitation, the Prior Employment Agreement. Notwithstanding the foregoing, the Change in Control Agreement shall continue in full force and effect, in accordance with its terms. 

SECTION 10.11. Legal Fees and Expenses. In the event that the Executive institutes any legal action to enforce his rights under, or to
recover damages for breach of this Agreement, the Executive, if he is the prevailing party, shall be entitled to recover from the Company reasonable attorneys’ fees and disbursements incurred by him. Such fees and expenses will be paid by the
Company in no event later than the end of the Executive’s taxable year following the Executive’s taxable year in which the fees and expenses become due by reason of the Executive being the prevailing party. 

SECTION 10.12. Construction. The language used in this Agreement will be deemed to be the language chosen by the parties to express
their mutual intent, and no rule of strict construction will be applied against any party. Any reference to any federal, state, local or foreign statute or law will be deemed also to refer to all rules and regulations promulgated thereunder, unless
the context requires otherwise. The use of the word “including” in this Agreement means “including without limitation” and is intended by the parties to be by way of example rather than limitation. 

SECTION 10.13. Survival. Sections 5.02, 5.03, 5.04, 5.05, 5.08, 6.01, 7.01, 8.01, 9.01 and Article 10 hereof will survive and continue
in full force in accordance with their terms notwithstanding any termination of the Employment Period, and the Agreement shall otherwise remain in full force to the extent necessary to enforce any rights and obligations arising hereunder during the
Employment Period. 
 SECTION 10.14. GOVERNING LAW. ALL QUESTIONS CONCERNING THE CONSTRUCTION, VALIDITY AND INTERPRETATION OF THIS
AGREEMENT WILL BE GOVERNED BY THE INTERNAL LAW OF PENNSYLVANIA, WITHOUT REGARD TO PRINCIPLES OF CONFLICT OF LAWS. 
 SECTION 10.15.
Internal Revenue Code Section 409A. 
 (a) If any benefit provided under this Agreement is subject to the provisions of
Section 409A of the Code and the regulations issued thereunder, the provisions of the Agreement shall be administered, interpreted and construed in a manner necessary to comply with Section 409A and the regulations issued thereunder (or
disregarded to the extent such provision cannot be so administered, interpreted, or construed.) 
 (b) For purposes of the Agreement, the
Executive shall be considered to have experienced a termination of employment only if the Executive has terminated employment with the Company and all of its controlled group members within the meaning of Section 409A of the Code. For purposes
hereof, the determination of controlled group members shall be made pursuant to the provisions of Section 414(b) and 414(c) of the Code; provided that the language “at least 50 percent” shall be used instead of “at least 80
percent” in each place it appears in Section 1563(a)(1),(2) and (3) of the Code and Treas. Reg. § 1.414(c)-2. Whether the Executive has terminated employment will be determined based on all of the facts and circumstances and in
accordance with the guidance issued under Section 409A of the Code. 
 (c) For purposes of Section 409A, each severance benefit
payment shall be treated as a separate payment. Each payment under this Agreement is intended to be excepted from Section 409A to the maximum extent provided under Section 409A as follows: (i) the Employee’s termination date and
within the applicable 2  1⁄2 month period specified in Treas. Reg. § 1.409A-1(b)(4) is intended
to be excepted under the short-term deferral exception as specified in Treas. Reg. § 1.409A-1(b)(4); (ii) post-termination medical benefits are intended 

  
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to be excepted under the medical benefits exceptions as specified in Treas. Reg. § 1.409A-1(b)(9)(v)(B); and (iii) to the extent payments are made as a result of an involuntary
separation, each payment that is not otherwise excepted under the short-term deferral exception or medical benefits exception is intended to be excepted under the involuntary pay exception as specified in Treas. Reg. § 1.409A-1(b)(9)(iii). The
Executive shall have no right to designate the date of any payment under this Agreement. 
 (d) With respect to payments subject to
Section 409A of the Code (and not excepted therefrom), if any, it is intended that each payment is paid on a permissible distribution event and at a specified time consistent with Section 409A of the Code. The Company reserves the right to
accelerate and/or defer any payment to the extent permitted and consistent with Section 409A. Notwithstanding any provision of this Agreement to the contrary, to the extent that a payment hereunder is subject to Section 409A of the
Code (and not excepted therefrom) and payable on account or a termination of employment, such payment shall be delayed for a period of six months after the date of termination (or, if earlier, the death of the Executive ) if the Executive is a
“specified employee” (as defined in Section 409A of the Code and determined in accordance with the procedures established by the Company). Any payment that would otherwise have been due or owing during such 6-month period will be paid
immediately following the end of the 6-month period in the month following the month containing the 6-month anniversary of the date of termination. 

[remainder of page intentionally left blank] 

  
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 [SIGNATURE PAGE TO AMENDED AND RESTATED EMPLOYMENT AGREEMENT] 

 

			
	CONSOL ENERGY INC.
		
	BY:	 	 /s/ Pete Carpenter

		 	Pete Carpenter,
Chair of Compensation Committee
	
	 /s/ J. Brett Harvey

	J. Brett Harvey, Executive

  
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