March 1, 2011 C/O Western Coal Corp. 1000 885 Dunsmuir Street Vancouver, BC Canada V6C 1N5 Dear Keith, (March 2nd, 2011)
We are pleased that you have accepted the position of Chief Executive Officer of Walter Energy, Inc. (Walter or the Company) effective as of the date of the consummation of the transactions contemplated by the Arrangement Agreement, dated December 2, 2010 between Walter and Western Coal Corp. (Western). The attached schedules outline the remuneration and benefits and terms and conditions of your employment.
Executive Change-In-Control Severance Agreement for Keith Calder Walter Energy, Inc. Adopted: March 2, 2011 (March 2nd, 2011)
THIS EXECUTIVE CHANGE-IN-CONTROL SEVERANCE AGREEMENT is made and entered into this 2nd day of March, 2011, by and between Walter Energy, Inc. (the Company), a Delaware corporation, and Keith Calder (the Executive), and will be effective as of the date the Executives employment with the Company commences.