SEC Contract Filing

Filing Date: 2017-02-14

Document Content:
<DOCUMENT>
<TYPE>EX-10.5
<SEQUENCE>10
<FILENAME>d267724dex105.htm
<DESCRIPTION>EX-10.5
<TEXT>
<HTML><HEAD>
<TITLE>EX-10.5</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.5 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">INDEMNIFICATION AGREEMENT </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">This Indemnification
Agreement (&#147;Agreement&#148;) is made as of February&nbsp;8, 2017, by and between Ramaco Resources, Inc., a Delaware corporation (the &#147;Corporation&#148;), and W. Howard Keenan, Jr. (&#147;Indemnitee&#148;). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">RECITALS: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">WHEREAS, directors, officers and other persons in
service to corporations or business enterprises are subjected to expensive and time-consuming litigation relating to, among other things, matters that traditionally would have been brought only against the Corporation or business enterprise itself;
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">WHEREAS, highly competent persons have become more reluctant to serve as directors, officers or in other capacities unless they are provided with
adequate protection through insurance and adequate indemnification against inordinate risks of claims and actions against them arising out of their service to and activities on behalf of the corporation; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">WHEREAS, the Board of Directors of the Corporation (the &#147;Board&#148;) has determined that the increased difficulty in attracting and retaining such
persons is detrimental to the best interests of the Corporation and its stockholders and that the Corporation should act to assure such persons that there will be increased certainty of such protection in the future; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">WHEREAS, (i)&nbsp;the Amended and Restated Bylaws of the Corporation (as may be amended, the &#147;Bylaws&#148;) require indemnification of the officers and
directors of the Corporation, (ii)&nbsp;Indemnitee may also be entitled to indemnification pursuant to the General Corporation Law of the State of Delaware (&#147;DGCL&#148;) and (iii)&nbsp;the Bylaws and the DGCL expressly provide that the
indemnification provisions set forth therein are not exclusive and thereby contemplate that contracts may be entered into between the Corporation and members of the Board, officers and other persons with respect to indemnification; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">WHEREAS, this Agreement is a supplement to and in furtherance of the Bylaws and the Amended and Restated Certificate of Incorporation of the Corporation (as
may be amended, the &#147;Certificate of Incorporation&#148;) and any resolutions adopted pursuant thereto, and shall not be deemed a substitute therefore, nor to diminish or abrogate any rights of Indemnitee thereunder; and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">WHEREAS, (i)&nbsp;Indemnitee does not regard the protection available under the Bylaws and insurance as adequate in the present circumstances,
(ii)&nbsp;Indemnitee may not be willing to serve or continue to serve as a director or officer of the Corporation without adequate protection, (iii)&nbsp;the Corporation desires Indemnitee to serve in such capacity, and (iv)&nbsp;Indemnitee is
willing to serve, continue to serve and to take on additional service for or on behalf of the Corporation on the condition that he be so indemnified. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">1 </P>

<p Style='page-break-before:always'>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">AGREEMENT: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">NOW,
THEREFORE, in consideration of the premises and the covenants contained herein, the Corporation and Indemnitee do hereby covenant and agree as follows: </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Section&nbsp;1&nbsp;&nbsp;&nbsp;&nbsp;Definitions. (a)&nbsp;As used in this Agreement: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&#147;Affiliate&#148; of any specified Person shall mean any other Person controlling, controlled by or under common control with such specified Person. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&#147;Corporate Status&#148; describes the status of a person who is or was a director, officer, employee or agent of (i)&nbsp;the Corporation or
(ii)&nbsp;any other corporation, limited liability company, partnership or joint venture, trust, employee benefit plan or other enterprise which such person is or was serving at the request of the Corporation. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&#147;Disinterested Director&#148; shall mean a director of the Corporation who is not and was not a party to the Proceeding in respect of which
indemnification is sought by Indemnitee. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&#147;Enterprise&#148; shall mean the Corporation and any other corporation, limited l