THIS WARRANT AND THE SHARES OF COMMON STOCK ISSUED UPON ITS EXERCISE ARE SUBJECT TO THE RESTRICTIONS ON TRANSFER SET FORTH IN SECTION 5 OF THIS WARRANTCommon Stock Purchase Warrant • August 9th, 2007 • Westmoreland Coal Co • Bituminous coal & lignite surface mining • New York
Westmoreland Coal Company, a Delaware corporation (the “Company”), for value received, hereby certifies that SOF Investments, L.P., or its registered assigns (the “Registered Holder”), is entitled, subject to the terms and conditions set forth below, to purchase from the Company, at any time or from time to time on or after the date of issuance and on or before 5:00 p.m. (New York City time) on June 28, 2010, SOF Investments, L.P. 150,000 shares of common stock, $2.50 par value per share, of the Company (“Common Stock”), at a purchase price of $31.4525 per share. The shares purchasable upon exercise of this Warrant, and the purchase price per share, each as adjusted from time to time pursuant to the provisions of this Warrant, are hereinafter referred to as the “Warrant Shares” and the “Purchase Price,” respectively.
