Common use of BTU Adjustment Clause in Contracts

BTU Adjustment. 3.2.1 The Base Price for each ton of coal sold and purchased hereunder during a calendar month shall be adjusted based on the monthly weighted average of the actual BTU/lb of all tons delivered in such calendar month under this Agreement (the “BTU Adjustment”). The BTU Adjustment shall be determined according to the following formula: BTU Adjustment = ((Actual BTU/lb Value / Guaranteed BTU/lb Value) x (Base Price)) – Base Price Where the Guaranteed BTU/lb Value = 11,000 Btu/Lb The aggregate BTU Adjustment for a calendar month shall be equal to the total tons delivered in such calendar month, multiplied by the BTU Adjustment. If the BTU Adjustment is a negative value, the BTU Adjustment shall be payable from Seller to Buyer, and if the BTU Adjustment is a positive value, the BTU Adjustment shall be payable from Buyer to Seller. The aggregate BTU Adjustment to be paid with respect to a calendar month shall be included in the first invoice delivered by Seller in the calendar month immediately following the calendar month for which such BTU Adjustment applies. 3.2.2 Subject to Buyer’s rights under Section 4.3, the Base Price adjustments as described in this Section 3.2, shall be Buyer’s sole and exclusive remedy at law or in equity for the failure of coal sold hereunder to meet the quality specifications with respect to BTU/lb. AND EXCHANGE COMMISSION PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT Exhibit 10.3

BTU Adjustment. 3.2.1 The Base Price for each ton of coal sold and purchased hereunder during a calendar month shall be adjusted based on the monthly weighted average of the actual BTU/lb of all tons delivered in such calendar month under this Agreement (the “BTU Adjustment”). The BTU Adjustment shall be determined according to the following formula: BTU Adjustment = ((Actual BTU/lb Value / Guaranteed BTU/lb Value) x (Base Price)) – Base Price Where the Guaranteed BTU/lb Value = 11,000 Btu/Lb The aggregate BTU Adjustment for a calendar month shall be equal to the total tons delivered in such calendar month, multiplied by the BTU Adjustment. If the BTU Adjustment is a negative value, the BTU Adjustment shall be payable from Seller to Buyer, and if the BTU Adjustment is a positive value, the BTU Adjustment shall be payable from Buyer to Seller. The aggregate BTU Adjustment to be paid with respect to a calendar month shall be included in the first invoice delivered by Seller in the calendar month immediately following the calendar month for which such BTU Adjustment applies.. AND EXCHANGE COMMISSION PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT Exhibit 10.2 3.2.2 Subject to Buyer’s rights under Section 4.3, the Base Price adjustments as described in this Section 3.2, shall be Buyer’s sole and exclusive remedy at law or in equity for the failure of coal sold hereunder to meet the quality specifications with respect to BTU/lb. AND EXCHANGE COMMISSION PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT Exhibit 10.3.

BTU Adjustment. 3.2.1 The Base Price for each ton of coal sold and purchased hereunder during a calendar month shall be adjusted based on the monthly weighted average of the actual BTU/lb of all tons delivered in such calendar month under this Agreement (the “BTU Adjustment”). The BTU Adjustment shall be determined according to the following formula: BTU Adjustment = ((Actual BTU/lb Value / Guaranteed BTU/lb Value) x (Base Price)) – Base Price Where the Guaranteed BTU/lb Value = 11,000 Btu/Lb The aggregate BTU Adjustment for a calendar month shall be equal to the total tons delivered in such calendar month, multiplied by the BTU Adjustment. If the BTU Adjustment is a negative value, the BTU Adjustment shall be payable from Seller to Buyer, and if the BTU Adjustment is a positive value, the BTU Adjustment shall be payable from Buyer to Seller. The aggregate BTU Adjustment to be paid with respect to a calendar month shall be included in the first invoice delivered by Seller in the calendar month immediately following the calendar month for which such BTU Adjustment applies. 3.2.2 Subject to Buyer’s rights under Section 4.3, the Base Price adjustments as described in this Section 3.2, shall be Buyer’s sole and exclusive remedy at law or in equity for the failure of coal sold hereunder to meet the quality specifications with respect to BTU/lb. AND EXCHANGE COMMISSION PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT Exhibit 10.310.4