0000950123-12-002285 Sample Contracts

Tennessee Valley Authority Coal Supply & Origination 1101 Market Street, MR 2A Chattanooga, Tennessee 37402-2801 CONTRACT SUPPLEMENT
Armstrong Resource Partners, L.P. • February 10th, 2012 • Mineral royalty traders

Train W505 was loaded on May 24, 2011, under Traffic Control Number 196190 with coal which reflected a total moisture content of 12.60 percent compared with the REJECT SPECIFICATION, contained in Section 9.0 of the Contract, of 12.00 percent for that component of the analysis. As agreed, TVA will accept this trainload of coal in consideration of a $2.50 per ton reduction in price. Also, the analysis results obtained on this shipment will be included in the quarterly quality adjustment calculations required under Section 8.0, Adjustment for Quality. TVA’s Accounts Payable organization will deduct $26,669.81 from Contractor’s account.

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AMENDED OVERRIDING ROYALTY AGREEMENT
Overriding Royalty Agreement • February 10th, 2012 • Armstrong Resource Partners, L.P. • Mineral royalty traders • Kentucky

This Amended Overriding Royalty Agreement (this “Agreement”) is made and entered into as of the 3 rd day of December, 2008, by and among Western Land Company, LLC (“Western Land”), a Kentucky limited liability company, Western Diamond, LLC (“Western Diamond”), a Nevada limited liability company, Ceralvo Holdings, LLC (“Ceralvo”), a Delaware limited liability company, Armstrong Mining, Inc. (“Armstrong Mining”), a Delaware corporation, Armstrong Coal Company, Inc., a Delaware corporation (“Armstrong Coal”), Armstrong Land Company, LLC (“Armstrong Land”), a Delaware limited liability company (together, with each of the foregoing and their respective successors and assigns, the “Armstrong Parties”), and Mr. Kenneth E. Allen (“Allen”), 6100 White Plains Road, White Plains, Kentucky 42464 (collectively, the “Parties).

Tennessee Valley Authority Coal Acquisition & Supply 1101 Market Street, MR 2A Chattanooga, Tennessee 37402-2801 CONTRACT SUPPLEMENT
Armstrong Resource Partners, L.P. • February 10th, 2012 • Mineral royalty traders

This confirms the October 1, 2009, agreement reached between both parties relative to freeze proofing deliveries under the subject contracts.

FORM OF COAL MINING LEASE/SUBLEASE/LEASE AND SUBLEASE
Lease and Sublease • February 10th, 2012 • Armstrong Resource Partners, L.P. • Mineral royalty traders • Kentucky

This Coal Mining Lease/Sublease/Lease and Sublease (the “Lease”) is made and entered into as of February 9, 2011 (the “Effective Date”), by and among: (i) Western Diamond LLC, a Nevada limited liability company/Western Land Company, LLC, a Kentucky limited liability company, and Western Mineral Development, LLC, a Delaware limited liability company, as tenants in common (collectively, the “Lessor”), and (ii) Armstrong Coal Company, Inc., a Delaware corporation (the “Lessee”).

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