Common use of BTU True Up Clause in Contracts

BTU True Up. The Base Price for coal delivered hereunder in any particular calendar month (a “Delivery Month”) is based on the assumption that the actual “as received” Monthly Weighted Average BTU/LB (the “BTU AMWA”) for coal delivered to Buyer during a Delivery Month is equal to the minimum Guaranteed Monthly Weighted Average BTU/LB set forth in §6.1 (the “BTU GMWA”). If the BTU AMWA varies from the BTU GMWA for any Delivery Month, then the price applicable to such delivered coal will be adjusted to account for such variation in BTU’s. The BTU adjustment for that Delivery Month will be determined as follows: (i) Calculate the per ton BTU adjustment for a Delivery Month using the following formula (where Price per Ton is the applicable Base Price set forth in §8.1 above): ((BTU AMWA – BTU GMWA) ÷ BTU GMWA) X Price per Ton = Per Ton Adjustment (ii) Determine the price adjustment for BTU’s for the Delivery Month by multiplying the Per Ton Adjustment (as calculated in (i) above) by the total number of tons of coal actually delivered to and unloaded by Buyer under this Agreement during the Delivery Month. Depending on whether the BTU AMWA is greater than or less than the BTU GMWA in a Delivery Month, the Per Ton BTU Adjustment for the Delivery Month can be positive or negative. If the BTU adjustment (as calculated above) for a Delivery Month is positive, then Buyer shall pay the amount of such BTU adjustment to Seller. If the BTU adjustment (as calculated above) for a Delivery Month is negative, then Seller shall pay or credit the amount of such BTU adjustment to Buyer. Buyer shall be responsible for making the BTU adjustment calculations and shall send a written statement to Seller of the amount of the BTU adjustment for each Delivery Month. BTU adjustment payments shall be due when the next payment for coal is due hereunder. For the avoidance of doubt, the parties agree to the following example. If the AMWA for a Delivery Month equals 11,250 BTU/LB, the GMWA equals 11,000 BTU/LB and the Base Price Per Ton is $45.00/ton, then the Per Ton BTU Adjustment would be ((11,250 – 11,000) ÷ 11,000) x $45.00 = $1.0227 per ton. If a total of 10,000 tons were delivered during the Delivery Month, then the BTU adjustment would equal $10,227.27 (10,000 x $1.0227). Since it is positive, this amount would be due and owing to Seller by Buyer with respect to the deliveries for that Delivery Month.

BTU True Up. The Base Price for coal delivered loaded hereunder in any particular calendar month (a “Delivery Month”) is based on the assumption that the actual “as received” Monthly Weighted Average BTU/LB (the “BTU AMWA”) for coal delivered loaded to Buyer during a Delivery Month is equal to the minimum Guaranteed Monthly Weighted Average BTU/LB set forth in §6.1 (the “BTU GMWA”). If the BTU AMWA varies from the BTU GMWA for any Delivery Month, then the price applicable to such delivered loaded coal will be adjusted to account for such variation in BTU’s. The BTU adjustment for that Delivery Month will be determined as follows: (i) Calculate the per ton BTU adjustment for a Delivery Month using the following formula (where Price per Ton is the applicable Base Price set forth in §8.1 above): ((BTU AMWA – BTU GMWA) ÷ (BTU GMWA) X Price per Ton = Per Ton Adjustment (ii) Determine the price adjustment for BTU’s for the Delivery Month by multiplying the Per Ton Adjustment (as calculated in (i) above) by the total number of tons of coal actually loaded and delivered to and unloaded by Buyer under this Agreement during the Delivery Month. Depending on whether the BTU AMWA is greater than or less than the BTU GMWA in a Delivery Month, the Per Ton BTU Adjustment for the Delivery Month can be positive or negative. If the BTU adjustment (as calculated above) for a Delivery Month is positive, then Buyer shall pay the amount of such BTU adjustment to Seller. If the BTU adjustment (as calculated above) for a Delivery Month is negative, then Seller shall pay or credit the amount of such BTU adjustment to Buyer. Buyer shall be responsible for making the BTU adjustment calculations and shall send a written statement to Seller of the amount of the BTU adjustment for each Delivery Month. BTU adjustment payments shall be due when the next payment for coal is due hereunder. For the avoidance of doubt, the parties agree to the following example. If the AMWA for a Delivery Month equals 11,250 11,300 BTU/LB, the GMWA equals 11,000 11,200 BTU/LB and the Base Price Per Ton is $45.0031.50/ton, then the Per Ton BTU Adjustment would be ((11,250 11,300 – 11,00011,200) ÷ 11,00011,200) x $45.00 31.50 = $1.0227 0.28125 per ton. If a total of 10,000 30,000 tons were delivered loaded during the Delivery Month, then the BTU adjustment would equal $10,227.27 8,437.50 (10,000 30,000 x $1.02270.28125). Since it is positive, this amount would be due and owing to Seller by Buyer with respect to the deliveries for that Delivery Month.

BTU True Up. The Base Price for coal delivered hereunder in any particular calendar month (a “Delivery Month”) is based on the assumption that the actual “as received” Monthly Weighted Average monthly weighted average BTU/LB (the “BTU AMWA”) for coal delivered to Buyer during a Delivery Month that particular calendar month is equal to the minimum Guaranteed Monthly Weighted Average BTU/LB set forth in §6.1 (the “BTU GMWA”). If In the BTU event the AMWA varies from the BTU GMWA for any Delivery Monthparticular calendar month, then the price Base Price applicable to such delivered coal will be adjusted for that particular calendar month to account for such variation in BTU’s. The BTU ; such Base Price adjustment for BTU’s for that Delivery Month will particular calendar month to be determined as follows: (i) Calculate the per ton Base Price BTU adjustment for a Delivery Month any particular calendar month using the following formula (where Price per Ton is the applicable Base Price set forth in §8.1 above): ((BTU ): AMWA – BTU GMWA) ÷ BTU GMWA) — GMWA X Price per Ton = Per Ton AdjustmentAdjustment GMWA (ii) Determine the price Base Price adjustment for BTU’s for the Delivery Month that month by multiplying the Per Ton Adjustment (as calculated in (i) above) by the total number of tons of coal actually delivered to and unloaded by Buyer under this Agreement during the Delivery Monthfor that particular calendar month. Depending on whether the BTU AMWA is greater than or less than the BTU GMWA in a Delivery Monthany particular calendar month, the Per Ton BTU Adjustment (and thus the Base Price adjustment for the Delivery Month BTU’s) for that particular calendar month can be positive or negative. If the BTU Base Price adjustment for BTU’s (as calculated above) for a Delivery Month particular calendar month is positive, then Buyer shall be obligated to pay the amount of such BTU adjustment to Seller. If the BTU Base Price adjustment for BTU’s (as calculated above) for a Delivery Month particular calendar month is negative, then Seller shall be obligated to pay or credit the amount of such BTU adjustment to Buyer. Buyer shall be responsible for making the BTU adjustment calculations and shall send a written statement to Seller of the amount of the BTU such adjustment for each Delivery Monthmonth. BTU adjustment Such payments shall be due when the next payment for coal is due hereunder. For the avoidance of doubtexample, the parties agree to the following example. If if the AMWA for a Delivery Month particular calendar month equals 11,250 11,200 BTU/LB, the GMWA equals 11,000 BTU/LB and the Base Price Per Ton is equals $45.0042.00/ton, then the Per Ton BTU Adjustment would be ((11,250 – 11,200 — 11,000) ÷ 11,000) x $45.00 42.00 = $1.0227 .7636 per ton. If a total of 10,000 100,000 tons were delivered during the Delivery Monththat particular calendar month, then the BTU Base Price adjustment for BTU’s would equal $10,227.27 76,363.64 (10,000 100,000 x $1.0227.7363). Since it is positive, this amount would be due and owing to Seller by Buyer with respect to the deliveries for that Delivery Monthparticular calendar month.

BTU True Up. The Base Price for coal delivered hereunder in any particular calendar month (a “Delivery Month”) is based on the assumption that the actual “as received” Monthly Weighted Average monthly weighted average BTU/LB (the “BTU AMWA”) for coal delivered to Buyer during a Delivery Month that particular calendar month is equal to the minimum Guaranteed Monthly Weighted Average BTU/LB set forth in §6.1 (the “BTU GMWA”). If In the BTU event the AMWA varies from the BTU GMWA for any Delivery Monthparticular calendar month, then the price Base Price applicable to such delivered coal will be adjusted for that particular calendar month to account for such variation in BTU’s. The BTU ; such Base Price adjustment for BTU’s for that Delivery Month will particular calendar month to be determined as follows: (i) Calculate the per ton Base Price BTU adjustment for a Delivery Month any particular calendar month using the following formula (where Price per Ton is the applicable Base Price set forth in §8.1 above): ((BTU ): AMWA – BTU GMWA) ÷ BTU GMWA) - GMWA X Price per Ton = Per Ton AdjustmentAdjustment GMWA (ii) Determine the price Base Price adjustment for BTU’s for the Delivery Month that month by multiplying the Per Ton Adjustment (as calculated in (i) above) by the total number of tons of coal actually delivered to and unloaded by Buyer under this Agreement during the Delivery Monthfor that particular calendar month. Depending on whether the BTU AMWA is greater than or less than the BTU GMWA in a Delivery Monthany particular calendar month, the Per Ton BTU Adjustment (and thus the Base Price adjustment for the Delivery Month BTU’s) for that particular calendar month can be positive or negative. If the BTU Base Price adjustment for BTU’s (as calculated above) for a Delivery Month particular calendar month is positive, then Buyer shall be obligated to pay the amount of such BTU adjustment to Seller. If the BTU Base Price adjustment for BTU’s (as calculated above) for a Delivery Month particular calendar month is negative, then Seller shall be obligated to pay or credit the amount of such BTU adjustment to Buyer. Buyer shall be responsible for making the BTU adjustment calculations and shall send a written statement to Seller of the amount of the BTU such adjustment for each Delivery Monthmonth. BTU adjustment Such payments shall be due when the next payment for coal is due hereunder. For the avoidance of doubtexample, the parties agree to the following example. If if the AMWA for a Delivery Month particular calendar month equals 11,250 11,375 BTU/LB, the GMWA equals 11,000 11,300 BTU/LB and the Base Price Per Ton is equals $45.0028.30/ton, then the Per Ton BTU Adjustment would be ((11,250 – 11,00011,375 - 11,300) ÷ 11,00011,300) x $45.00 28.30 = $1.0227 .18783 per ton. If a total of 10,000 50,000 tons were delivered during the Delivery Monththat particular calendar month, then the BTU Base Price adjustment for BTU’s would equal $10,227.27 9,391.50 (10,000 50,000 x $1.0227.18783). Since it is positive, this amount would be due and owing to Seller by Buyer with respect to the deliveries for that Delivery Monthparticular calendar month.

BTU True Up. The Base Price for coal delivered hereunder in any particular calendar month (a “Delivery Month”) is based on the assumption that the actual “as received” Monthly Weighted Average BTU/LB (the “BTU AMWA”) for coal delivered to Buyer during a Delivery Month is equal to the minimum Guaranteed Monthly Weighted Average BTU/LB set forth in §6.1 (the “BTU GMWA”). If the BTU AMWA varies from the BTU GMWA for any Delivery Month, then the price applicable to such delivered coal will be adjusted to account for such variation in BTU’s. The BTU adjustment for that Delivery Month will be determined as follows: (i) Calculate the per ton BTU adjustment for a Delivery Month using the following formula (where Price per Ton is the applicable Base Price set forth in §8.1 above): ((BTU AMWA – BTU GMWA) ÷ BTU GMWA) X Price per Ton = Per Ton Adjustment (ii) Determine the price adjustment for BTU’s for the Delivery Month by multiplying the Per Ton Adjustment (as calculated in (i) above) by the total number of tons of coal actually delivered to and unloaded by Buyer under this Agreement during the Delivery Month. Depending on whether the BTU AMWA is greater than or less than the BTU GMWA in a Delivery Month, the Per Ton BTU Adjustment for the Delivery Month can be positive or negative. If the BTU adjustment (as calculated above) for a Delivery Month is positive, then Buyer shall pay the amount of such BTU adjustment to Seller. If the BTU adjustment (as calculated above) for a Delivery Month is negative, then Seller shall pay or credit the amount of such BTU adjustment to Buyer. Buyer shall be responsible for making the BTU adjustment calculations and shall send a written statement to Seller of the amount of the BTU adjustment for each Delivery Month. BTU adjustment payments shall be due when the next payment for coal is due hereunder. For the avoidance of doubt, the parties agree to the following example. If the AMWA for a Delivery Month equals 11,250 BTU/LB, the GMWA equals 11,000 BTU/LB and the Base Price Per Ton is $45.0044.25/ton, then the Per Ton BTU Adjustment would be ((11,250 – 11,000) ÷ 11,000) x $45.00 44.25 = $1.0227 1.0056 per ton. If a total of 10,000 tons were delivered during the Delivery Month, then the BTU adjustment would equal $10,227.27 10,056.00 (10,000 x $1.02271.0056). Since it is positive, this amount would be due and owing to Seller by Buyer with respect to the deliveries for that Delivery Month.

BTU True Up. The Base Price for coal delivered hereunder in any particular calendar month (a “Delivery Month”) is based on the assumption that the actual “as received” Monthly Weighted Average BTU/LB (the “BTU AMWA”) for coal delivered to Buyer during a Delivery Month is equal to the minimum Guaranteed Typical Monthly Weighted Average BTU/LB set forth in §6.1 (the “BTU GMWATMWA”). If the BTU AMWA varies from the BTU GMWA TMWA for any Delivery Month, then the price applicable to such delivered coal will be adjusted to account for such variation in BTU’s. The BTU adjustment for that Delivery Month will be determined as follows: (i) Calculate the per ton BTU adjustment for a Delivery Month using the following formula (where Price per Ton is the applicable Base Price set forth in §8.1 above): ((BTU AMWA – BTU GMWATMWA) ÷ (BTU GMWATMWA) X Price per Ton = Per Ton Adjustment (ii) Determine the price adjustment for BTU’s BTUs for the Delivery Month by multiplying the Per Ton Adjustment (as calculated in (i) above) by the total number of tons of coal actually loaded and delivered to and unloaded by Buyer under this Agreement during the Delivery Month. Depending on whether the BTU AMWA is greater than or less than the BTU GMWA TMWA in a Delivery Month, the Per Ton BTU Adjustment for the Delivery Month can be positive or negative. If the BTU adjustment (as calculated above) for a Delivery Month is positive, then Buyer shall pay the amount of such BTU adjustment to Seller. If the BTU adjustment (as calculated above) for a Delivery Month is negative, then Seller shall pay or credit the amount of such BTU adjustment to Buyer. Buyer shall be responsible for making the BTU adjustment calculations and shall send a written statement to Seller of the amount of the BTU adjustment for each Delivery Month by the fifth working day of the Payment Month. BTU adjustment payments shall be due when the next payment for coal is due hereunder. For the avoidance of doubt, the parties agree to the following example. If the AMWA for a Delivery Month equals 11,250 13,100 BTU/LB, the GMWA TMWA equals 11,000 12,900 BTU/LB and the Base Price Per Ton is $45.0046.24/ton, then the Per Ton BTU Adjustment would be ((11,250 13,100 – 11,00012,900) ÷ 11,00012,900) x $45.00 46.24 = $1.0227 0.7169 per ton. If a total of 10,000 40,000 tons were delivered during the Delivery Month, then the BTU adjustment would equal $10,227.27 28,676 (10,000 40,000 x $1.02270.7169). Since it is positive, this amount would be due and owing to Seller by Buyer with respect to the deliveries for that Delivery Month.

BTU True Up. The Base Price for coal delivered loaded hereunder in any particular calendar month (a “Delivery Month”) is based on the assumption that the actual “as received” Monthly Weighted Average BTU/LB (the “BTU AMWA”) for all the coal delivered to Buyer loaded during a Delivery Month is equal to the minimum Guaranteed Monthly Weighted Average BTU/LB set forth in §6.1 (the “BTU GMWA”). If the BTU AMWA varies for the coal loaded in any Delivery Month deviates from the BTU GMWA for any Delivery Month, then the price applicable to such delivered loaded coal will be adjusted to account for such variation in BTU’sBTUs. The BTU adjustment for that Delivery Month will be determined as follows: (i) Calculate the per ton BTU adjustment for a Delivery Month using the following formula (where Price per Ton is the applicable Base Price set forth in §8.1 above): ((BTU AMWA – BTU GMWA) ÷ BTU GMWA) X × Price per Ton = Per Ton BTU Adjustment (ii) Determine the price adjustment for BTU’s BTUs for the Delivery Month by multiplying the Per Ton BTU Adjustment (as calculated in (i) above) by the total number of tons of coal actually delivered to and unloaded by Buyer loaded at the Barge Delivery Point under this Agreement during the Delivery Month. Depending on whether the BTU AMWA is greater than or less than the BTU GMWA in a Delivery Month, the Per Ton BTU Adjustment for the Delivery Month can be positive or negative. If the BTU adjustment (as calculated above) for a Delivery Month is positive, then Buyer shall pay the amount of such BTU adjustment to Seller. If the BTU adjustment (as calculated above) for a Delivery Month is negative, then Seller shall pay or credit the amount of such BTU adjustment to Buyer. Buyer shall be responsible for making the BTU adjustment calculations and shall send a written statement to Seller of the amount of the BTU adjustment for each Delivery Month. BTU adjustment payments shall be due when the next payment for coal is due hereunder. For the avoidance of doubt, the parties agree to the following example. If the AMWA for a Delivery Month equals 11,250 11,650 BTU/LB, the GMWA equals 11,000 11,400 BTU/LB and the Base Price Per Ton is $45.0037.50/ton, then the Per Ton BTU Adjustment would be ((11,250 11,650 – 11,00011,400) ÷ 11,00011,400) x × $45.00 37.50 = $1.0227 0.82237 per ton. If a total of 10,000 100,000 tons were delivered loaded during the Delivery Month, then the BTU adjustment would equal $10,227.27 82,237.00 (10,000 x 100,000 × $1.02270.82237). Since it is positive, this amount would be due and owing to Seller by Buyer with respect to the deliveries for coal loaded during that Delivery Month.

BTU True Up. The Base Price for coal delivered loaded hereunder in any particular calendar month (a “Delivery Month”) is based on the assumption that the actual “as received” Monthly Weighted Average BTU/LB (the “BTU AMWA”) for coal delivered to Buyer loaded during a Delivery Month is equal to the minimum Guaranteed Monthly Weighted Average BTU/LB set forth in §6.1 (the “BTU GMWA”). If the BTU AMWA varies from the BTU GMWA for any Delivery Month, then the price applicable to such delivered loaded coal will be adjusted to account for such variation in BTU’s. The BTU adjustment for that Delivery Month will be determined as follows: (i) Calculate the per ton BTU adjustment for a Delivery Month using the following formula (where Price per Ton is the applicable Base Price set forth in §8.1 above): ((BTU AMWA – BTU GMWA) ÷ (BTU GMWA) X Price per Ton = Per Ton BTU Adjustment. (ii) Determine the price adjustment for BTU’s for the Delivery Month by multiplying the Per Ton Adjustment (as calculated in (i) above) by the total number of tons of coal actually delivered to and unloaded by Buyer loaded under this Agreement during the Delivery Month. Depending on whether the BTU AMWA is greater than or less than the BTU GMWA in a Delivery Month, the Per Ton BTU Adjustment for the Delivery Month can be positive or negative. If the BTU adjustment (as calculated above) for a Delivery Month is positive, then Buyer shall pay the amount of such BTU adjustment to Seller. If the BTU adjustment (as calculated above) for a Delivery Month is negative, then Seller shall pay or credit the amount of such BTU adjustment to Buyer. Buyer shall be responsible for making the BTU adjustment calculations and shall send a written statement to Seller of the amount of the BTU adjustment for each Delivery Month. BTU adjustment payments shall be due when the next payment for coal is due hereunder. For the avoidance of doubt, the parties agree to the following example. If the AMWA for a Delivery Month equals 11,250 BTU/LB, the GMWA equals 11,000 BTU/LB and the Base Price Per Ton is $45.00/ton, then the Per Ton BTU Adjustment would be ((11,250 – 11,000) ÷ 11,000) x $45.00 = $1.0227 1.02273 per ton. If a total of 10,000 30,000 tons were delivered loaded during the Delivery Month, then the BTU adjustment would equal $10,227.27 30,681.81 (10,000 30,000 x $1.02271.02273). Since it is positive, this amount would be due and owing to Seller by Buyer with respect to the deliveries for coal loaded during that Delivery Month.

BTU True Up. The Base Price for coal delivered hereunder in any particular calendar month (a “Delivery Month”) is based on the assumption that the actual “as received” Monthly Weighted Average monthly weighted average BTU/LB (the “BTU AMWA”) for coal delivered to Buyer during a Delivery Month that particular calendar month is equal to the minimum Guaranteed Monthly Weighted Average BTU/LB set forth in §6.1 (the “BTU GMWA”). If In the BTU event the AMWA varies from the BTU GMWA for any Delivery Monthparticular calendar month, then the price Base Price applicable to such delivered coal will be adjusted for that particular calendar month to account for such variation in BTU’s. The BTU ; such Base Price adjustment for BTU’s for that Delivery Month will particular calendar month to be determined as follows: (i) Calculate the per ton Base Price BTU adjustment for a Delivery Month any particular calendar month using the following formula (where Price per Ton is the applicable Base Price set forth in §8.1 above): ((BTU ): AMWA – BTU GMWA) ÷ BTU GMWA) — GMWA X Price per Ton = Per Ton Adjustment (ii) Determine the price Base Price adjustment for BTU’s for the Delivery Month that month by multiplying the Per Ton Adjustment (as calculated in (i) above) by the total number of tons of coal actually delivered to and unloaded by Buyer under this Agreement during the Delivery Monthfor that particular calendar month. Depending on whether the BTU AMWA is greater than or less than the BTU GMWA in a Delivery Monthany particular calendar month, the Per Ton BTU Adjustment (and thus the Base Price adjustment for the Delivery Month BTU’s) for that particular calendar month can be positive or negative. If the BTU Base Price adjustment for BTU’s (as calculated above) for a Delivery Month particular calendar month is positive, then Buyer shall be obligated to pay the amount of such BTU adjustment to Seller. If the BTU Base Price adjustment for BTU’s (as calculated above) for a Delivery Month particular calendar month is negative, then Seller shall be obligated to pay or credit the amount of such BTU adjustment to Buyer. Buyer shall be responsible for making the BTU adjustment calculations and shall send a written statement to Seller of the amount of the BTU such adjustment for each Delivery Monthmonth. BTU adjustment Such payments shall be due when the next payment for coal is due hereunder. For the avoidance of doubtexample, the parties agree to the following example. If if the AMWA for a Delivery Month particular calendar month equals 11,250 11,200 BTU/LB, the GMWA equals 11,000 BTU/LB and the Base Price Per Ton is equals $45.0042.00/ton, then the Per Ton BTU Adjustment would be ((11,250 – 11,200 — 11,000) ÷ 11,000) x $45.00 42.00 = $1.0227 .7636 per ton. If a total of 10,000 100,000 tons were delivered during the Delivery Monththat particular calendar month, then the BTU Base Price adjustment for BTU’s would equal $10,227.27 76,363.64 (10,000 100,000 x $1.0227.7363). Since it is positive, this amount would be due and owing to Seller by Buyer with respect to the deliveries for that Delivery Month.particular calendar month. (b) The Base Price is based on coal meeting or exceeding the Guaranteed Monthly Weighted Average specifications for the Buyer’s generating stations as set forth in §6.1. Quality price discounts shall be applied for each specification each month to reflect failures to meet the Guaranteed Monthly Weighted Averages set forth in §6.l, as determined pursuant to §7.2, subject to the provisions set forth below. The discount values used are as follows: BTU/LB. 0.2604 SULFUR 0.1232 ASH 0.0083 MOISTURE 0.0016

BTU True Up. The Base Price for coal delivered loaded hereunder in any particular calendar month (a “Delivery Month”) is based on the assumption that the actual “as received” Monthly Weighted Average BTU/LB (the “BTU AMWA”) for all the coal delivered to Buyer loaded during a Delivery Month is equal to the minimum Guaranteed Monthly Weighted Average BTU/LB set forth in §6.1 (the “BTU GMWA”). If the BTU AMWA varies for the coal loaded in any Delivery Month deviates from the BTU GMWA for any Delivery Month, then the price applicable to such delivered loaded coal will be adjusted to account for such variation in BTU’sBTUs. The BTU adjustment for that Delivery Month will be determined as follows: (i) Calculate the per ton BTU adjustment for a Delivery Month using the following formula (where Price per Ton is the applicable Base Price set forth in §8.1 above): ((BTU AMWA – BTU GMWA) ÷ BTU GMWA) X × Price per Ton = Per Ton BTU Adjustment (ii) Determine the price adjustment for BTU’s BTUs for the Delivery Month by multiplying the Per Ton BTU Adjustment (as calculated in (i) above) by the total number of tons of coal actually delivered to and unloaded loaded by Buyer Seller under this Agreement during the Delivery Month. Depending on whether the BTU AMWA is greater than or less than the BTU GMWA in a Delivery Month, the Per Ton BTU Adjustment for the Delivery Month can be positive or negative. If the BTU adjustment (as calculated above) for a Delivery Month is positive, then Buyer shall pay the amount of such BTU adjustment to Seller. If the BTU adjustment (as calculated above) for a Delivery Month is negative, then Seller shall pay or credit the amount of such BTU adjustment to Buyer. Buyer shall be responsible for making the BTU adjustment calculations and shall send a written statement to Seller of the amount of the BTU adjustment for each Delivery Month. BTU adjustment payments shall be due when the next payment for coal is due hereunder. For the avoidance of doubt, the parties agree to the following example. If the AMWA for a Delivery Month equals 11,250 BTU/LB, the GMWA equals 11,000 11,700 BTU/LB and the Base Price Per Ton is $45.0031.50/ton, then the Per Ton BTU Adjustment would be ((11,250 – 11,00011,700) ÷ 11,00011,700) x × $45.00 31.50 = $1.0227 -$1.21154 per ton. If a total of 10,000 100,000 tons were delivered loaded during the Delivery Month, then the BTU adjustment would equal $10,227.27 -$121,154.00 (10,000 x $1.0227100,000 × -$1.21154). Since it is positivenegative, this amount would be due and owing to Buyer by Seller by Buyer with respect to the deliveries for coal loaded during that Delivery Month.

BTU True Up. The Base Price for coal delivered accepted hereunder in any particular calendar month (a “Delivery Month”) is based on the assumption that the actual “as received” Monthly Weighted Average BTU/LB (the “BTU AMWA”) for coal delivered to accepted by Buyer during a Delivery Month is equal to the minimum Guaranteed Monthly Weighted Average BTU/LB set forth in §6.1 (the “BTU GMWA”). If the BTU AMWA varies from the BTU GMWA for any Delivery Month, then the price applicable to such delivered accepted coal will be adjusted to account for such variation in BTU’s. The BTU adjustment for that Delivery Month will be determined as follows: (i) Calculate the per ton BTU adjustment for a Delivery Month using the following formula (where Price per Ton is the applicable Base Price set forth in §8.1 above): ((BTU AMWA – BTU GMWA) ÷ BTU GMWA) X Price per Ton ): [***] = Per Ton Adjustment (ii) Determine the price adjustment for BTU’s for the Delivery Month by multiplying the Per Ton Adjustment (as calculated in (i) above) by the total number of tons of coal actually delivered to and unloaded by Buyer under this Agreement during the Delivery Month. Depending on whether the BTU AMWA is greater than or less than the BTU GMWA in a Delivery Month, the Per Ton BTU Adjustment for the Delivery Month can be positive or negative. If the BTU adjustment (as calculated above) for a Delivery Month is positive, then Buyer shall pay the amount of such BTU adjustment to Seller. If the BTU adjustment (as calculated above) for a Delivery Month is negative, then Seller shall pay or credit the amount of such BTU adjustment to Buyer. Buyer shall be responsible for making the BTU adjustment calculations and shall send a written statement to Seller of the amount of the BTU adjustment for each Delivery Month. BTU adjustment payments shall be due when the next payment for coal is due hereunder. For the avoidance of doubt, the parties agree to the following example. If the BTU AMWA for a Delivery Month equals 11,250 [***] BTU/LB, the BTU GMWA equals 11,000 [***] BTU/LB and the Base Price Per Ton is $45.00/ton[***]/ton, then the Per Ton BTU Adjustment would be ((11,250 – 11,000) ÷ 11,000) x $45.00 = $1.0227 [***] per ton. If a total of 10,000 [***] tons were delivered accepted during the Delivery Month, then the BTU True up adjustment would equal $10,227.27 (10,000 x $1.0227[***]). Since it is positive, this amount would be due and owing to Seller by Buyer with respect to the deliveries coal accepted by Buyer for that Delivery Month.

BTU True Up. The Base Price for coal delivered hereunder in any particular calendar month (a “Delivery Month”) is based on the assumption that the actual “as received” Monthly Weighted Average monthly weighted average BTU/LB (the “BTU AMWA”) for coal delivered to Buyer during a Delivery Month that particular calendar month is equal to the minimum Guaranteed Monthly Weighted Average BTU/LB set forth in §6.1 (the “BTU GMWA”). If In the BTU event the AMWA varies from the BTU GMWA for any Delivery Monthparticular calendar month, then the price Base Price applicable to such delivered coal will be adjusted for that particular calendar month to account for such variation in BTU’s. The BTU ; such Base Price adjustment for BTU’s for that Delivery Month will particular calendar month to be determined as follows: (i) Calculate the per ton Base Price BTU adjustment for a Delivery Month any particular calendar month using the following formula (where Price per Ton is the applicable Base Price set forth in §8.1 above): ((BTU ): AMWA – BTU GMWA) ÷ BTU GMWA) - GMWA X Price per Ton = Per Ton Adjustment Adjustment GMWA (ii) Determine the price Base Price adjustment for BTU’s for the Delivery Month that month by multiplying the Per Ton Adjustment (as calculated in (i) above) by the total number of tons of coal actually delivered to and unloaded by Buyer under this Agreement during the Delivery Monthfor that particular calendar month. Depending on whether the BTU AMWA is greater than or less than the BTU GMWA in a Delivery Monthany particular calendar month, the Per Ton BTU Adjustment (and thus the Base Price adjustment for the Delivery Month BTU’s) for that particular calendar month can be positive or negative. If the BTU Base Price adjustment for BTU’s (as calculated above) for a Delivery Month particular calendar month is positive, then Buyer shall be obligated to pay the amount of such BTU adjustment to Seller. If the BTU Base Price adjustment for BTU’s (as calculated above) for a Delivery Month particular calendar month is negative, then Seller shall be obligated to pay or credit the amount of such BTU adjustment to Buyer. Buyer shall be responsible for making the BTU adjustment calculations and shall send a written statement to Seller of the amount of the BTU such adjustment for each Delivery Monthmonth. BTU adjustment Such payments shall be due when the next payment for coal is due hereunder. For the avoidance of doubtexample, the parties agree to the following example. If if the AMWA for a Delivery Month particular calendar month equals 11,250 11,375 BTU/LB, the GMWA equals 11,000 11,300 BTU/LB and the Base Price Per Ton is equals $45.0028.30/ton, then the Per Ton BTU Adjustment would be ((11,250 – 11,00011,375 - 11,300) ÷ 11,00011,300) x $45.00 28.30 = $1.0227 .18783 per ton. If a total of 10,000 50,000 tons were delivered during the Delivery Monththat particular calendar month, then the BTU Base Price adjustment for BTU’s would equal $10,227.27 9,391.50 (10,000 50,000 x $1.0227.18783). Since it is positive, this amount would be due and owing to Seller by Buyer with respect to the deliveries for that Delivery Monthparticular calendar month.

BTU True Up. The Base Price for coal delivered loaded hereunder in any particular calendar month (a “Delivery Month”) is based on the assumption that the actual “as received” Monthly Weighted Average BTU/LB (the “BTU AMWA”) for all the coal delivered to Buyer loaded during a Delivery Month is equal to the minimum Guaranteed Monthly Weighted Average BTU/LB set forth in §6.1 (the “BTU GMWA”). If the BTU AMWA varies for the coal loaded in any Delivery Month deviates from the BTU GMWA for any Delivery Month, then the price applicable to such delivered loaded coal will be adjusted to account for such variation in BTU’sBTUs. The BTU adjustment for that Delivery Month will be determined as follows: (i) Calculate the per ton BTU adjustment for a Delivery Month using the following formula (where Price per Ton is the applicable Base Price set forth in §8.1 above): ((BTU AMWA – BTU GMWA) ÷ BTU GMWA) X × Price per Ton = Per Ton BTU Adjustment (ii) Determine the price adjustment for BTU’s BTUs for the Delivery Month by multiplying the Per Ton BTU Adjustment (as calculated in (i) above) by the total number of tons of coal actually delivered to and unloaded loaded by Buyer Seller under this Agreement during the Delivery Month. Depending on whether the BTU AMWA is greater than or less than the BTU GMWA in a Delivery Month, the Per Ton BTU Adjustment for the Delivery Month can be positive or negative. If the BTU adjustment (as calculated above) for a Delivery Month is positive, then Buyer shall pay the amount of such BTU adjustment to Seller. If the BTU adjustment (as calculated above) for a Delivery Month is negative, then Seller shall pay or credit the amount of such BTU adjustment to Buyer. Buyer shall be responsible for making the BTU adjustment calculations and shall send a written statement to Seller of the amount of the BTU adjustment for each Delivery Month. BTU adjustment payments shall be due when the next payment for coal is due hereunder. For the avoidance of doubt, the parties agree to the following example. If the AMWA for a Delivery Month equals 11,250 12,000 BTU/LB, the GMWA equals 11,000 12,500 BTU/LB and the Base Price Per Ton is $45.0050.00/ton, then the Per Ton BTU Adjustment would be ((11,250 12,000 – 11,00012,500) ÷ 11,00012,500) x × $45.00 50.00 = $1.0227 -$2.00000 per ton. If a total of 10,000 40,000 tons were delivered loaded during the Delivery Month, then the BTU adjustment would equal $10,227.27 -$80,000.00 (10,000 x $1.022740,000 × -$2.00000). Since it is positivenegative, this amount would be due and owing to Buyer by Seller by Buyer with respect to the deliveries for coal loaded during that Delivery Month.

BTU True Up. The Base Price for coal delivered hereunder in any particular calendar month (a “Delivery Month”) is based on the assumption that the actual “as received” Monthly Weighted Average monthly weighted average BTU/LB (the “BTU AMWA”) for coal delivered to Buyer during a Delivery Month that particular calendar month is equal to the minimum Guaranteed Monthly Weighted Average BTU/LB set forth in §6.1 (the “BTU GMWA”). If In the BTU event the AMWA varies from the BTU GMWA for any Delivery Monthparticular calendar month, then the price Base Price applicable to such delivered coal will be adjusted for that particular calendar month to account for such variation in BTU’s. The BTU ; such Base Price adjustment for BTU’s for that Delivery Month will particular calendar month to be determined as follows: (i) Calculate the per ton Base Price BTU adjustment for a Delivery Month any particular calendar month using the following formula (where Price per Ton is the applicable Base Price set forth in §8.1 above): ((BTU Price): AMWA – BTU GMWA) ÷ BTU GMWA) — GMWA X Price per Ton = Per Ton AdjustmentAdjustment GMWA (ii) Determine the price Base Price adjustment for BTU’s for the Delivery Month that month by multiplying the Per Ton Adjustment (as calculated in (i) above) by the total number of tons of coal actually delivered to and unloaded by Buyer under this Agreement during the Delivery Monthfor that particular calendar month. Depending on whether the BTU AMWA is greater than or less than the BTU GMWA in a Delivery Monthany particular calendar month, the Per Ton BTU Adjustment (and thus the Base Price adjustment for the Delivery Month BTU’s) for that particular calendar month can be positive or negative. If the BTU Base Price adjustment for BTU’s (as calculated above) for a Delivery Month particular calendar month is positive, then Buyer shall be obligated to pay the amount of such BTU adjustment to Seller. If the BTU Base Price adjustment for BTU’s (as calculated above) for a Delivery Month particular calendar month is negative, then Seller shall be obligated to pay or credit the amount of such BTU adjustment to Buyer. Buyer shall be responsible for making the BTU adjustment calculations and shall send a written statement to Seller of the amount of the BTU such adjustment for each Delivery Monthmonth. BTU adjustment Such payments shall be due when the next payment for coal is due hereunder. For the avoidance of doubtexample, the parties agree to the following example. If if the AMWA for a Delivery Month particular calendar month equals 11,250 BTU/LB, the GMWA equals 11,000 BTU/LB and the Base Price Per Ton is equals $45.0041.00/ton, then the Per Ton BTU Adjustment would be ((11,250 – - 11,000) ÷ 11,000) x $45.00 41.00 = $1.0227 .9318 per ton. If a total of 10,000 55,000 tons were delivered during the Delivery Monththat particular calendar month, then the BTU Base Price adjustment for BTU’s would equal $10,227.27 51,250.00 (10,000 55,000 x $1.0227.9318). Since it is positive, this amount would be due and owing to Seller by Buyer with respect to the deliveries for that Delivery Monthparticular calendar month (but not including any fuel rejected pursuant to Paragraph (B) below) determined in accordance with the terms and conditions hereof. Notwithstanding the foregoing, for each specification each month with respect to the quality price discounts, there shall be no discount if the Actual Monthly Quality meets the applicable Discount Point set forth in the Quality Specifications section above. However, if the Actual Monthly Quality fails to meet such applicable Discount Point, then the discount shall apply to and shall be calculated as provided in Exhibit A attached hereto.

BTU True Up. The Base Price for coal delivered hereunder in any particular calendar month (a “Delivery Month”) is based on the assumption that the actual “as received” Monthly Weighted Average BTU/LB (the “BTU AMWA”) for all the coal delivered to and accepted by Buyer during a Delivery Month is equal to the minimum Guaranteed Monthly Weighted Average BTU/LB set forth in §6.1 (the “BTU GMWA”). If the BTU AMWA varies for the coal delivered and accepted in any Delivery Month deviates from the BTU GMWA for any Delivery Month, then the price applicable to such delivered coal will be adjusted to account for such variation in BTU’sBTUs. The BTU adjustment for that Delivery Month will be determined as follows: (i) Calculate the per ton BTU adjustment for a Delivery Month using the following formula (where Price per Ton is the applicable Base Price set forth in §8.1 above): ((BTU AMWA – BTU GMWA) ÷ BTU GMWA) X × Price per Ton = Per Ton BTU Adjustment (ii) Determine the price adjustment for BTU’s BTUs for the Delivery Month by multiplying the Per Ton BTU Adjustment (as calculated in (i) above) by the total number of tons of coal actually delivered to the Barge Delivery Point and unloaded accepted by Buyer under this Agreement during the Delivery Month. Depending on whether the BTU AMWA is greater than or less than the BTU GMWA in a Delivery Month, the Per Ton BTU Adjustment for the Delivery Month can be positive or negative. If the BTU adjustment (as calculated above) for a Delivery Month is positive, then Buyer shall pay the amount of such BTU adjustment to Seller. If the BTU adjustment (as calculated above) for a Delivery Month is negative, then Seller shall pay or credit the amount of such BTU adjustment to Buyer. Buyer shall be responsible for making the BTU adjustment calculations and shall send a written statement to Seller of the amount of the BTU adjustment for each Delivery Month. BTU adjustment payments shall be due when the next payment for coal is due hereunder. For the avoidance of doubt, the parties agree to the following example. If the AMWA for a Delivery Month equals 11,250 11,650 BTU/LB, the GMWA equals 11,000 11,350 BTU/LB and the Base Price Per Ton is $45.0046.50/ton, then the Per Ton BTU Adjustment would be ((11,250 11,650 – 11,00011,350) ÷ 11,00011,350) x × $45.00 46.50 = $1.0227 1.22907 per ton. If a total of 10,000 20,000 tons were delivered and accepted during the Delivery Month, then the BTU adjustment would equal $10,227.27 24,581.50 (10,000 x 20,000 × $1.02271.22907). Since it is positive, this amount would be due and owing to Seller by Buyer with respect to the deliveries for coal delivered and accepted by Xxxxx during that Delivery Month.

BTU True Up. The Base Price for coal delivered hereunder in any particular calendar month (a “Delivery Month”) is based on the assumption that the actual “as received” Monthly Weighted Average monthly weighted average BTU/LB (the “BTU AMWA”) for coal delivered to Buyer during a Delivery Month that particular calendar month is equal to the minimum Guaranteed Monthly Weighted Average BTU/LB set forth in §6.1 (the “BTU GMWA”). If In the BTU event the AMWA varies from the BTU GMWA for any Delivery Monthparticular calendar month, then the price Base Price applicable to such delivered coal will be adjusted for that particular calendar month to account for such variation in BTU’s. The BTU ; such Base Price adjustment for BTU’s for that Delivery Month will particular calendar month to be determined as follows: (i) Calculate the per ton Base Price BTU adjustment for a Delivery Month any particular calendar month using the following formula (where Price per Ton is the applicable Base Price set forth in §8.1 above): ((BTU Price): AMWA – BTU GMWA) ÷ BTU GMWA) - GMWA X Price per Ton = =Per Ton AdjustmentAdjustment GMWA (ii) Determine the price Base Price adjustment for BTU’s for the Delivery Month that month by multiplying the Per Ton Adjustment (as calculated in (i) above) by the total number of tons of coal actually delivered to and unloaded by Buyer under this Agreement during the Delivery Monthfor that particular calendar month. Depending on whether the BTU AMWA is greater than or less than the BTU GMWA in a Delivery Monthany particular calendar month, the Per Ton BTU Adjustment (and thus the Base Price adjustment for the Delivery Month BTU’s) for that particular calendar month can be positive or negative. If the BTU Base Price adjustment for BTU’s (as calculated above) for a Delivery Month particular calendar month is positive, then Buyer shall be obligated to pay the amount of such BTU adjustment to Seller. If the BTU Base Price adjustment for BTU’s (as calculated above) for a Delivery Month particular calendar month is negative, then Seller shall be obligated to pay or credit the amount of such BTU adjustment to Buyer. Buyer shall be responsible for making the BTU adjustment calculations and shall send a written statement to Seller of the amount of the BTU adjustment for each Delivery Month. BTU adjustment payments shall be due when the next payment for coal is due hereunder. For the avoidance of doubt, the parties agree to the following example. If the AMWA for a Delivery Month equals 11,250 BTU/LB, the GMWA equals 11,000 BTU/LB and the Base Price Per Ton is $45.00/ton, then the Per Ton BTU Adjustment would be ((11,250 – 11,000) ÷ 11,000) x $45.00 = $1.0227 per ton. If a total of 10,000 tons were delivered during the Delivery Month, then the BTU adjustment would equal $10,227.27 (10,000 x $1.0227). Since it is positive, this amount would be due and owing to Seller by Buyer with respect to the deliveries for that Delivery Month.adjustment

BTU True Up. The Base Price for coal delivered loaded hereunder in any particular calendar month (a “Delivery Month”) is based on the assumption that the actual “as received” Monthly Weighted Average BTU/LB (the “BTU AMWA”) for coal delivered to Buyer loaded during a Delivery Month is equal to the minimum Guaranteed Monthly Weighted Average BTU/LB set forth in §6.1 (the “BTU GMWA”). If the BTU AMWA varies from the BTU GMWA for any Delivery Month, then the price applicable to such delivered loaded coal will be adjusted to account for such variation in BTU’s. The BTU adjustment for that Delivery Month will be determined as follows: (i) Calculate the per ton BTU adjustment for a Delivery Month using the following formula (where Price per Ton is the applicable Base Price set forth in §8.1 above): ((BTU AMWA – BTU GMWA) ÷ (BTU GMWA) X Price per Ton = Per Ton BTU Adjustment. (ii) Determine the price adjustment for BTU’s for the Delivery Month by multiplying the Per Ton Adjustment (as calculated in (i) above) by the total number of tons of coal actually delivered to and unloaded by Buyer loaded under this Agreement during the Delivery Month. Depending on whether the BTU AMWA is greater than or less than the BTU GMWA in a Delivery Month, the Per Ton BTU Adjustment for the Delivery Month can be positive or negative. If the BTU adjustment (as calculated above) for a Delivery Month is positive, then Buyer shall pay the amount of such BTU adjustment to Seller. If the BTU adjustment (as calculated above) for a Delivery Month is negative, then Seller shall pay or credit the amount of such BTU adjustment to Buyer. Buyer shall be responsible for making the BTU adjustment calculations and shall send a written statement to Seller of the amount of the BTU adjustment for each Delivery Month. BTU adjustment payments shall be due when the next payment for coal is due hereunder. For the avoidance of doubt, the parties agree to the following example. If the AMWA for a Delivery Month equals 11,250 BTU/LB, the GMWA equals 11,000 BTU/LB and the Base Price Per Ton is $45.0034.25/ton, then the Per Ton BTU Adjustment would be ((11,250 – 11,000) ÷ 11,000) x $45.00 34.25 = $1.0227 0.77841 per ton. If a total of 10,000 30,000 tons were delivered loaded during the Delivery Month, then the BTU adjustment would equal $10,227.27 23,352.30 (10,000 30,000 x $1.02270.77841). Since it is positive, this amount would be due and owing to Seller by Buyer with respect to the deliveries for coal loaded during that Delivery Month.