Commitment Agreement March 23, 2022 (the “Commitment Agreement Date”)Confidential • May 5th, 2022 • Peabody Energy Corp • Bituminous coal & lignite surface mining • New York
The Prudential Insurance Company of America (the “Insurer”), Peabody Investments Corp. (“Company”), and Fiduciary Counselors Inc., acting solely in its capacity as the independent fiduciary of the Plan (the “Independent Fiduciary”), hereby agree that the Insurer shall provide a nonparticipating single premium group annuity contract (the “Contract”) for the Peabody Investments Corp. Retirement Plan (“Plan”), supported by a commingled separate account and its general account, subject to the terms and conditions of this Commitment Agreement (this “Commitment Agreement”). The Plan Trustee shall be the initial Contract-Holder before a Buy-Out Conversion and, in the event of a Buy-Out Conversion the Company will be the successor Contract-Holder. The Company intends to amend the Plan to provide for a standard termination of the Plan, and in connection with the standard termination, offer certain plan participants and beneficiaries the opportunity to elect to receive Plan benefits in a single
