Chevron Mining Inc. LOGO] William L. Sharrer Vice President Business Advancement Chevron Mining Inc. 116 Inverness Drive East, Suite 200 Englewood, CO 80112 Tel 303 930 4035 Fax 303 930 4180 bsharrer@chevron.com
Exhibit 99.1
| [Chevron Mining Inc. LOGO] |
Xxxxxxx X. Xxxxxxx
Vice President
Business Advancement
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Chevron Mining Inc.
000 Xxxxxxxxx Xxxxx Xxxx, Xxxxx 000
Xxxxxxxxx, XX 00000
Tel 000 000 0000
Fax 000 000 0000
xxxxxxxx@xxxxxxx.xxx
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January 25, 2012
Xxxxxxxxxxxx Xxxxxxxx, Inc.
c/o Westmoreland Coal Company
Attn: Executive Vice President
0000 Xxxxx Xxxxxx Xxxxxx, Xxxxx 000
Xxxxxxxxx, Xxxxxxxx 00000
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Re:
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December 23, 2011 Purchase and Sale Agreement for Xxxxxxxx Coal Mine Assets (“PSA”) – Amendment No. 1
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Ladies and Gentlemen:
When countersigned by you, this letter will constitute our agreement to amend the PSA as follows:
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a.
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In Section 1.1, Defined Terms, the definition of “Retiree Health Coverage Amount” is amended to read in its entirety as follows:
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Retiree Health Coverage Amount. Seventy Six Million Dollars ($76,000,000).
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b.
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In Section 1.1, Defined Terms, the definition of “Underfunded Pension Amount” is amended to read in its entirety as follows:
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Underfunded Pension Amount. Six Million Dollars ($6,000,000).
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c.
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Section 4.5, Determination of Retiree Health Coverage Amount and Underfunded Pension Amount, is deleted in its entirety.
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Except as set forth above, the PSA shall remain in full force and effect.
Xxxxxxxxxxxx Xxxxxxxx, Inc.
January 25, 2012
Page 2
If this amendment is acceptable to you, please countersign both originals of this letter and return one to the undersigned. The other original is for your records. Thank you for your cooperation.
Very truly yours,
CHEVRON MINING INC.
By /s/ Xxxxxxx X. Xxxxxxx
Title V.P., Business Advancement
AGREED TO AND ACCEPTED:
XXXXXXXXXXXX XXXXXXXX, INC.
By /s/ Xxxxxxxx X. Xxxxxxx
Title General Counsel and Secretary
Date 1/25/2012
