10 September2026
Brett Holbrook
PRIVATEAND CONFIDENTIAL
Dear Brett
RE: INTERIMAPPOINTMENTCONFIRMATION
I am pleasedtoconfirmyour temporaryappointmenttothe role ofInterim Chief OperationsOfficerU.S. for
CoronadoGlobalResources,effective9 September2026. This appointmentwill continueuntil communicated
otherwise.
Whilst undertakingthis role,youwill reporttothe ChiefExecutiveOfficerand the dutiesand responsibilitiesof
the position,as well as anyspecificexpectations,will be discusseddirectlywith you.
All otherterms andconditionsofyour employmentwill remain unchanged duringthis time.
We appreciateyour willingnesstotake onthis interimpositionand lookforwardtohaving youas a memberof
the LeadershipTeam.
Yourssincerely
/s/Emma Pollard
Emma Pollard
Chief People and SustainabilityOfficer
CoronadoGlobal Resources Inc.
Level 33, Central Plaza One, 345Queen
Street
ARBN: 628199468BrisbaneQLD 4000
T:
+61 7 3031 7777 |
F:
+61 7 3229 7402
EMPLOYMENT
AGREEMENT
THISEMPLOYMENTAGREEMENT("Agreement"),madeas of26 July2021,
effectiveon July3, 2023,betweenCORONADOGLOBALRESOURCESINC.(the
"Company"),a Delawarecorporationand BrettHolbrook("Employee"),presentlyresidingin or
nearWestVirginia
WITNESSETH:
WHEREAS,the Companywishesto offeremploymentto the Employeeand to protect
againstEmployee'scompetingagainstthe Company,and Employeedesiresto be employedby
theCompanyandto provideassurancesofconfidentialityas setforthin thisAgreement,
NOW,THEREFORE,intendingtobe legallyboundhereby,the Companyhereby agrees
toemployEmployee,and Employeehereby agrees tobeemployedbythe Company,uponthe
followingterms andconditions:
1.
Dutiesand Responsibilities.
Employeeshall holdthe positionofVicePresident,OperationsU.S. andshall render such
servicesand performsuch dutiescommensuratewith his positionasmaybe reasonably
assignedtohim fromtime totime bythe Company.Excludingany periodsofvacationand sick
leave towhich Employeeis entitled,Employeeagrees todevotereasonable attentionand time
duringnormal businesshours tothe businessand affairsofthe Companyand, tothe extent
necessarytodischargetheresponsibilitiesassignedtoEmployeehereunder,touse
Employee'sreasonable besteffortstoperformfaithfullyand efficientlysuch responsibilities.
2.
Compensation.
(a)
Employee'sbase salaryeffectiveas ofthe effectivedate set forthaboveshall
be US$400,000per year,whichshallbe reviewedfromtimeto timeand maybe increasedby
the Companyin the bestinterestsofthe Companyand in accordancewith Employee'sthen
currentresponsibilities,paidin accordancewiththe Company'sregularpayrollpracticesand
on regularlyscheduledpayrolldates.In addition,Employeeshallbe entitledto participatein
allshorttermincentive,longtermincentive,welfare,savingsand retirementand other
employeebenefitplans,practices,policies,andprogramsapplicablegenerallyto other
executiveofficersofthe Company.
(b)
The Companyshall reimbursethe Employeeforall reasonablebusinessexpenses
paidbythe Employeein the performanceofhis dutiesor asotherwise maybe approvedbythe
Company.Expensesshallbe reimbursedwithin areasonableperiodoftime (notto exceedfour
(4) weeks)followingthe submissionofappropriateproofofany suchexpenditures.
3.
Term:TerminationofEmployment.
(a)
Subjecttothe terms andprovisionsofthis Agreement,Employee'semployment
hereundershall commenceas ofJuly 3,2023 and shall continueuntil December31, 2023 (the
"ExpirationDate").Notwithstandingthe forgoingtothe contrary,each year the ExpirationDate
shall beautomaticallyextendedtoDecember31 ofthe followingyear unless either partygives
writtennoticetothe other party,on orbeforeSeptember30 ofthe year in which the Expiration
Date isscheduledtooccur,ofitsintentionnot toextendthe ExpirationDate.
(b)
The employmentofEmployeehereunder may be terminatedbythe Company
with or withoutCause (as definedbelow) orbyEmployeewith orwithout GoodReason(as
definedbelow).Employee'semploymentshall terminate automaticallyifEmployeedies.If the
Companydetermines ingoodfaiththat the Disability(as definedbelow) ofEmployeehas
occurred,it maygivetoEmployeewrittennoticeofitsintention toterminate Employee's
employment.In such event,Employee'semploymentwiththe Companyshallterminate
effectiveon the 30th dayafterreceiptofsuch noticebyEmployee,providedthat, within the30
daysaftersuchreceipt,Employeeshallnothave returnedtofull-timeperformanceof
Employee'sduties.Nothingin thissectionshall beconstruedtowaive the Employee'srights,if
any,under existinglaw including,without limitation,the Americanswith DisabilitiesAct.
(c)
"Cause"shall meanbyreason ofEmployee's:(i) convictionof,or pleaof
nolo
contendere
to,anyfelonyortoanycrime oroffensecausingsubstantialharm tothe Company
or its affiliatesor involvingacts oftheft, fraud, embezzlement,moralturpitude, orsimilar conduct,
(ii) repeatedintoxicationby alcoholor drugsduring theperformanceofsuch Employee'sduties
in a mannerthat materiallyandadverselyaffectsthe Employee'sperformanceofsuch duties,
(iii) malfeasance,in the conductofsuch Employee'sduties,that consistsof(1) willful and
intentionalmisuse ordiversionoffundsofthe Companyor itsaffiliates,(2) embezzlement, or (3)
fraudulentor willfuland material misrepresentationsor concealmentson anywritten reports
submittedtothe Companyor itsAffiliates,or (iv) materialfailure toperformthe dutiesof
Employee'semploymentor material failuretofollowor complywith the reasonableand lawful
written directivesofthe boardofdirectorsor the boardofmanagers orother governingbodya
subsidiaryor affiliateofthe Companybywhich such Employeeis employed,in either case after
the Employeeshallhave beeninformed,inwriting, ofsuchmaterial failure andgiven aperiod
ofnot morethan thirty (30)daystofullyremedy same.
(d)
"Disability"shallmean Employee'sincapacitydue tophysicalor mentalillness
that (i) shall havepreventedEmployeefromperforminghis dutiesforthe Companyor any ofits
subsidiariesor affiliateson a full-time basisformore than 180 daysor (ii) (1) the boardof
directorsdetermines,in
good
faith,is likelytopreventEmployeefrompe1formingsuch duties
forsuch a 180-dayperiodand (2) 30 dayshas elapsedsince deliverytoEmployeeofthe
determinationofthe boardand Employeehas notresumed suchperformanceofduties.
(e)
"GoodReason"shallmean,withoutEmployee'sexpresswrittenconsent,the
occurrenceofany one ormoreofthe following:(i) a materialdiminutionofEmployee's
authorities,duties,responsibilities,andstatus(includingoffices,titles,and rep01ting
requirements)as anemployeeofthe Companyor anysuccessorthereof(anysuch diminution
occurringas a resultofthe Company'sceasingto be a publiclytradedentity(or itsmergerinto,
or acquisitionofthe businessofthe Companyor ofa substantialportionofits assets by,
anotherpubliclytradedentity)shallbe deemedmaterialfor pu1posesofthe foregoing);(ii) the
Company'srequiringEmployeeto bebasedat a locationin excessofthirty-fivemilesfromthe
locationofEmployee'sprincipaljob locationor officeimmediatelypriorto suchchange;(iii) a
reductionin Employee'sbasesala1yor anymaterialreductionbythe CompanyofEmployee's
othercompensationor benefits;(iv)thefailureofthe Companytoobtaina satisfactory
agreementfromany successorto the Companyto assumeandagreeto performthe
Company'sobligationsunderthis Agreement;(v) anypurportedterminationby the Company
ofEmployee'semploymentthat(1) isnot effectedpursuantto a noticeoftermination
indicatingthe specificterminationprovisioninthis Agreementreliedupon,and (2) shallset
forthin reasonabledetailthefactsand circumstancesclaimedto providea reasonable
good
faithbasisfor terminationofEmployee'semployment;and (vi) a materialbreachofthis
Agreementby theCompany.Employeemust deliverthe Companywrittennoticeofhis
resignationfor GoodReasonno laterthan30 daysaftertheoccurrenceofany sucheventin
orderforEmployee'sresignationwith GoodReasonto be effectivehereunder,such
resignationwillnotbe effectiveuntil the30th dayfollowingreceiptofsuch writtennoticeby the
Companyand suchresignation
shall notbe deemedtobe for"GoodReason" hereunderunless the circumstancegivingrise to
Employee's"GoodReason" remainsuncuredat the endofsuch 30-dayperiod.
4.
CompensationUponTerminationofEmployment.
(a)
Terminationbythe CompanyforCause or ResignationbyEmployeeWithout
GoodReason.If Employee'semploymentis terminatedbythe CompanyforCause or by
Employeewithout GoodReason, the Companyshall providethe following(referred toin this
Agreementas the "AccruedObligations")tothe Employee(i) Employee'sbase salary,vacation,
unpaidbusinessexpensesand othercash entitlementsaccrued throughthe dateoftermination
shallbe paidtoEmployeein alumpsum ofcashonthe firstregularlyscheduledpayrolldate
that isat leastten (10) daysfromthe dateofterminationtothe extent theretoforeunpaid,(ii) the
amount ofany compensationpreviouslydeferredbyEmployeeshall bepaidtoEmployeein
accordancewith the termsofthe applicabledeferredcompensationplan tothe extenttheretofore
unpaidand(iii)amountsthatare vestedbenefitsorthat Employeeisotherwiseentitled
to
receiveunderanyplan,policy,practiceor programofor any othercontractor agreementwith
the Companyat orsubsequenttothe dateoftermination,payablein accordancewith such plan,
policy,practiceor programor contractor agreement,and the Companyshall have noother
severanceobligationswith respecttoEmployeeunder this Agreement.
(b)
Terminationbythe CompanyWithout Causeor Resignationbythe Employeefor
GoodReason.If Employee'semploymentis terminatedbythe Companywithout Cause orif
EmployeeresignsforGoodReason,the Companyshall providethe followingtoEmployee
(i) theAccruedObligations,payableas providedin Section4(a) hereof,(ii) a periodoftwelve
(12) months sixteen
(I
6) weeks ("Severance Period")base salarybaseduponthe salary Employeeearnedat
the time ofhis termination,and (iii) anamount equalto the costto Employeeforthe continuationofany health
and medicalbenefitsduring the Severance Period.Any paymentsdue hereunder shallbe conditionedupon
Employeehavingprovided,within sixty(60) days ofhis terminationofemployment,an irrevocablewaiver and
general releaseofclaimsin favorofthe Company(and itsrespectiveaffiliates,subsidiaries,successors,
officers,directors,and employees)in a formreasonablysatisfactorytothe Company.
(c)
Deathor Disability.If Employee'semploymentis terminatedbyreasonof
Employee'sdeathor Disability,theCompanyshallprovidethe AccruedObligationsto
Employee,or in theeventofEmployee'sdeath, tohis estateor beneficiaries,and the
Companyshallhave nootherseveranceobligationswith respectto Employeeunderthis
Agreement.
(d)
Upon terminationor resignationin accordancewith Section4(b), the Employeewill
onlybe entitledtoreceive applicablecompensationpaymentsas setout inthis Section4(b), if
Employeesignsa release oflegal claimsin a formmutuallyagreeable tothe parties.
5.
ConfidentialInformation,etc.
(a)
Employeerecognizesand acknowledgesthat: (i) in thecourseofEmployee's
employmentbythe Companyit will benecessary forEmployeetoacquire informationwhich
couldinclude,in whole orin part,informationconcerningthe Company'ssales,sales volume,
sales methods,sales proposals,customersand prospectivecustomers,identityofcustomers
and prospectivecustomers,identity ofkey purchasing personnelin the employofcustomersand
prospectivecustomers,amount orkindofcustomers'purchasesfromthe Company,the
Company'ssourcesofsupply,computerprograms,systemdocumentation,specialhardware,
producthardware, related softwaredevelopment,manuals, formulae,processes,methods,
machines,compositions,ideas,improvements,inventionsor otherconfidentialor proprietary
informationbelongingtothe Companyor relatingtothe Company'saffairs(collectively
referred toherein as the"ConfidentialInformation");(ii) the ConfidentialInformationis the
propertyofthe Company;(iii) the use, misappropriationor disclosureofthe Confidential
Informationwouldconstitutea breach oftrust andcouldcause irreparable injury tothe
Company;and (iv) itis essentialtothe protectionofthe Company'sgoodwill and tothe
maintenanceofthe Company'scompetitivepositionthat the ConfidentialInformationbe kept
secret andthat Employeenot disclosethe ConfidentialInformationtoothers oruse the
ConfidentialInformationtoEmployee'sown advantageor the advantageofothers.For
purposesofthis Agreement,ConfidentialInformationshall notinclude informationknown by
Employeebeforehis employmentwith the Companyor informationthat becomespublicly
available throughsomemeans other thandisclosurebyEmployeein violationofthis
Agreement.
(b)
Employeefurther recognizesand acknowledgesthat itis essentialforthe proper
protectionofthe businessofthe Companythat Employeebe restrained(i) fromsolicitingor
inducingany employeeofthe Companyor ofany subsidiaryofthe Company(forpurposesof
Sections5, 6 and7 herein the "Company"shallmeantoinclude anysubsidiariesor affiliates
thereof)to]eave the employofthe Company,(ii) fromhiringor attemptingtohire any
Employeeofthe Company,(iii) fromsolicitingthe trade ofor tradingwith the customersofthe
Companyforany businesspmpose,and (iv) fromcompetingagainstthe Companyeach
accordingtothe terms ofSection6 following.
6.
Confidentiality.Non-competeandRelatedCovenants.
(a)
Employeeagrees toholdand safeguardthe ConfidentialInformationin trustfor
the Company,itssuccessorsand assignsand agreesthat he shall not,without thepriorwritten
consentofthe Company,discloseor makeavailable toanyone foruse outsidethe Companyat
any time,either duringhis employmentbythe Companyor subsequenttothe terminationor
resignationofhis employmentbythe Company,forany reason,any ofthe Confidential
Information,whether or notdevelopedbyEmployee,exceptas requiredin the performanceof
Employee'sdutiestothe Company.For the avoidanceofdoubt,this provisionshallnot
prohibitEmployeefromreportingpossibleviolationsoffederallaw or regulationtoany
governmentalagencyor entityor frommakingother disclosuresthat are protectedunder the
whistleblowerprovisionsoffederallaw or regulation.The Company'sapprovalshall notbe
required, norshall noticetothe Companybe required,in connectionwith such reportsor
disclosures.
(b)
Uponthe terminationofEmployee'semploymentby the Companyor resignation
bythe Employee,forany reason,Employeeshall promptlydeliver tothe Companyall originals
and copiesofcorrespondence,drawings,blueprints,financialand businessrecords,
marketingandpublicitymaterials,manuals,letters,notes,notebooks,laptops,rep01ts,flow-
charts,programs,proposalsandanydocumentsconcerningthe Company'scustomersor
concerningproductsor processesused bythe Companyand, withoutlimitingthe foregoing,
shallpromptlydelivertothe Companyany andallotherdocumentsor materialscontainingor
constitutingConfidentialInformation.
(c)
Subjectto the provisionsofSection6(f) following,Employeeagreesthatduring
his employmentby the Companyhe shallnot, directlyor indirectly,solicitthetradeof,or trade
with,any customeror prospectivecustomerofthe Companyforany businesspurposeother
than forthe benefitofthe Company.UponterminationofEmployee'semploymentbythe
Company,includingwithoutlimitationterminationbythe Companyin a terminationforCause or
otherwise,or upontheresignationofthe Employee,exceptin thecase ofGoodReason,
Employeefurtheragreesthat fora periodofone (1) yearafterthecessationofemployment
hereunder,Employeeshall not,directlyor indirectly,solicitthe trade of,or tradewith, any
customers,or prospectivecustomers,ofthe Company,or solicitor induce,or attempttosolicit
or induce,any employeeofthe Companytoleave the Companyforany reasonwhatsoever or
hire any employeeofthe Company.
(d)
Subject tothe provisionsofSection 6(f) following,during the periodofEmployee's
employmenthereunder anduponterminationofEmployee'semploymentbythe Company,
includingwithout limitationterminationbythe Companyin a terminationforCause or otherwise,
or uponthe resignationofthe Employeeexceptin the caseofGoodReason, Employeeagrees
that fora periodofone (1) year afterthe cessationofemploymenthereunder, Employeeshall
not,in any CompetitiveTerritory,engage,directlyor indirectly,whether as principalor asagent,
officer,director,employee,consultant,shareholderor otherwise,alone orin associationwith
any other person,corporationor otherentity,inany CompetingBusiness.For purposesofthis
Agreement,(i)the term"CompetingBusiness"shallmeantheproductionor salesof
metallurgicalbituminouscoal,and (ii) the term"CompetitiveTerritory"shallmean the United
StatesofAmerica, Australiaand any othernation in which,tothe knowledgeofEmployee,the
Companyhas made orconsideredmakingsuch sales,either itselfor througha subsidiary,
affiliateor jointventure partner, duringthe lasttwo yearspriortothe terminationofEmployee's
employmenthereunder.
(e)
Prior toacceptingemploymentduring theone year non-competeperiodreferred
toin Section6(d), Employeeshall notifythe Companyofsuch employmentopportunityin
reasonabledetail inorder forthe Companytodetermine ifthe positionEmployeeis seeking
violatesthis Agreement.
(f)
Notwithstandingthe provisionsofSections6(c) or 6(d) tothe contrary,the
Company,it issoleand absolutediscretion,may,bywrittennoticedeliveredtoEmployee
promptlyaftertheterminationofEmployee'semploymentbytheCompanyorthe resignation
ofEmployee,elect towaive and notenforcethe non-solicitationand non-competeprovisionsof
Sections6(c) and 6 (d).
(g)
Unless theCompanyhas providednoticethat ithas waivedand will notenforce
boththe non-solicitationand non-competeprovisionsofSections6(c) and 6(d) asprovidedin
Section6(f), duringthe sixmonthperiodbeginningonthe firstbusinessdayfollowingthe last
dayofEmployee'semploymentwiththe Company,the Companyshall paythe Employee,in six
equalmonthlypaymentsduring suchperiodcommencing30 daysafterthe lastdayof
Employee'semploymentwith the Company,an amount equalto3 months'worth ofthe annual
salary ofEmployeeas ofthe businessdayimmediatelyprecedingthe lastdayofEmployee's
employmentwiththe Company.Paymentsunderthis sectionshallbe in additiontoany
severanceor otherpaymentsdue toEmployeeunder the terms .ofthis Agreement.During such
six-monthperiod(unless the waivercontemplatedbySection6(f) has beenmade), andin
considerationofthe paymentscontemplatedbythis Section6(g), Employeeagreestoconsult
with theCompanyas requestedbythe Companyprovidedsuch consultationshallnot require
more thantwenty(20)hours ofconsultationperweekand shallbe reasonablyrelatedtothe
dutiesofEmployeewhile employed.Employeeshallprovidesuchconsultationbyphone,e-
mail orother remotecommunicationor atthe locationofEmployee'sprincipaljoblocationor
officeimmediatelypriortothe terminationofhis employmentand shallnot berequired to
otherwisetravel.
7.
Injunctiveand otherrelief.
(a)
Employeerepresents thathis experienceand capabilitiesare such thatSections5
and 6 hereofnot preventhim fromearning his livelihoodand acknowledgesthat itwouldcause
the Companyseriousand irreparableinjuryand costifEmployeewere to use hisabilityand
knowledgein competitionwith the Companyor tootherwise breachthe obligationscontainedin
saidparagraphs.
(b)
In the eventofa breachbyEmployeeofthe terms ofthis Agreement,the
Companyshall beentitled,ifit shallsoelect, toinstitutelegalproceedingstoenforcethe
specificperformanceofthis AgreementbyEmployeeand toenjoin Employeefromany further
violationofthis Agreementand toexercise suchremedies cumulativelyor in conjunctionwith all
other rightsand remediesprovidedbylaw.Employeeacknowledges,however,that the
remediesat law forany breach byhim ofthe provisionsofthis Agreementmay beinadequate
andthatthe Companyshallbe entitledtoinjunctive reliefagainsthim in the eventofany
breach.
(c)
It is the intentionofthe partiesthattheprovisionsofSections5 and 6 hereofshall
be enforceableto the fullestextentpermissibleunderapplicablelaw,butthatthe
unenforceability(or modificationto conformto suchlaw)ofany provisionor provisionshereof
shallnot renderunenforceable,or impair,the remainderthereof.If any provisionor provisions
hereofshall bedeemedinvalidor unenforceable,eitherin wholeor in part,this Agreementshall
be deemed amendedto deleteor modify,as necessary, theoffendingprovisionor provisionsand
to altertheboundsthereofinorderto renderit validand enforceable.
8.
GoverningLaw.
This Agreementshall begovernedbyand construedin accordancewith the laws ofthe
State ofWest Virginiawithout givingeffecttoany choiceor conflictoflaw provisionor rule
(whetherofthe StateofWest Virginia or anyother jurisdiction)that wouldcause the applicationof
the lawsofany jurisdictionother than the StateofWest Virginia.
9.
Amendments,waivers,etc.
No amendmentofany provisionofthis Agreement,andno postponementor waiverof
anysuchprovisionor ofany default,misrepresentation,or breachofwarrantyor covenant
hereunder,whetherintentionalor not,shallbe validunlesssuch amendment,postponementor
waiveris in writingandsignedbyor on behalfofthe CompanyandEmployee.No such
amendment,postponementor waivershallbe deemedto extendto anyprioror subsequent
matter,whether ornotsimilar tothe subjectmatter ofsuch amendment,postponementor waiver.
No failureor delayon thepart ofthe Companyor Employeein exercisinganyright,poweror
privilegeunderthisAgreementshalloperateas awaiverthereofnorshallany singleor partial
exerciseofany right, power orprivilegehereunderprecludeanyotheror furtherexercisethereof
or theexerciseofany otherright,poweror privilege.
10.
Assignment.
The rightsand dutiesofthe Companyunder this Agreementmay betransferredto,and
shallbe bindingupon,anypersonor companywhich acquiresor isa successortothe
Company,itsbusinessor a significantportionoftheassetsofthe Companybymerger,
purchaseor otherwise,andthe Companyshallrequire anysuch acquireror successorby
agreementin formandsubstancereasonablysatisfactorytoEmployee,expresslytoassume
andagreetoperformthis Agreementin the samemanner and tothe same extentthatthe
Company,as the casemay be, wouldbe requiredtoperformifno suchacquisitionor succession
had taken place.Regardlessofwhether such agreementis executed,this Agreementshall be
bindinguponany acquirer orsuccessorin accordancewiththeoperationoflawandsuch
acquireror successorshallbe deemedthe "Company",asthecasemaybe, forpurposesof
thisAgreement.
The Employeemay not transferany ofhis respectiverightsand dutieshereunder
exceptwiththe written consentofthe Company.
11.
Interpretation,etc.
The Companyand Employeehave participatedjointlyin the negotiationand draftingof
this Agreement.If an ambiguityor questionofintent or interpretationarises,this Agreement
shallbe construedas ifdraftedjointlybythe CompanyandEmployeeandno presumptionor
burdenofproofshall arise favoringor disfavoringthe Companyor Employeebecauseofthe
authorshipofany ofthe provisionsofthis Agreement.Theword "including"shallmean
includingwithout limitation.The rightsandremediesexpresslyspecifiedin this Agreementare
cumulativeandare notexclusiveofany rightsor remedieswhicheitherpartywouldotherwise
have.The Sectionheadingshereofarefor convenienceonlyand shallnot affectthe meaning
or interpretationofthis Agreement.For purposesofthis Agreement,the term"termination"
whenusedin thecontextofa conditionto,or timingof,paymenthereundershallbe
interpretedtomeana "separationfromservice"as thattermis usedin Section409Aofthe
Code.
12.
Integration:counterparts.
This Agreementconstitutesthe entireagreementamongthe partiesand supersedes
anyprior understandings,agreementsor representationsby or amongthe parties,written or oral,
to
the extenttheyrelateto the subjectmatterhereof.ThisAgreementmaybe executedin one
or morecounterparts,eachofwhich shallbe deemedan originalbutall ofwhich together
shallconstituteoneandthe sameinstrument.It shallnotbe necessaryin makingproofofthis
Agreementtoproduceor accountfor morethanone suchcounterpart.
13.
CodeSection409A.
ThisAgreementis intendedtocomplywith Section409A ofthe Internal RevenueCode
of1986, as amended(the "Code"),and itscorrespondingregulations,or an exemption,and
paymentsmay onlybe madeunder this Agreementuponan event and ina mannerpermitted
by
Section409A, tothe extent applicable.Any paymentsthat qualifyforthe "short-term deferral"
exceptionor another exceptionunder Section409A shall bepaidunder the applicableexception.
Notwithstandinganything inthis Agreementtothe contrary,ifrequired bySection409A, ifthe
Employeeis considereda "specifiedemployee"forpurposesofSection409A and ifpaymentof
any amountsunder thisAgreement isrequiredtobe delayedfora periodofsixmonthsafter
separationfromservice pursuanttoSection409A (after takingintoacconntall applicable
exemptions),paymentofsuch amountsshall bedelayedas requiredbySection409A, and the
accumulatedamountsshallbe paidina lumpsum paymentwithinten(10) days afterthe end of
the six-monthperiod.Ifthe Employeediesduring thepostponementperiodpriortothe payment
ofbenefits,the amountswithheld onaccountofSection409A shall bepaidtothe personal
representativeofthe Employee'sestate within sixty(60) days afterthe dateofthe Employee's
death.All paymentstobe madeuponaterminationofemploymentunder this Agreementmay
onlybe madeupona "separationfromservice"under Section409A.For purposesofSection
409A ofthe Code,the righttoa series ofinstallment paymentsunder this Agreementshall be
treated asa right toa series ofseparatepayments.In no event maythe Employee,directlyor
indirectly,designatethe calendar year ofa payment.All reimbursementsand in-kindbenefits
providedunder the Agreement shallbe madeor providedin accordancewith the requirementsof
Section409A, including,where applicable,the requirement that (i)any reimbursementis for
expensesincurredduring theperiodoftime specifiedin thisAgreement orifno suchpedodis
specified,duringthe Employee'slifetime,(ii) the amountofexpenseseligibleforreimbursement,
or in kindbenefitsprovided,during acalendar year maynot affectthe expenseseligiblefor
reimbursement,or in kindbenefitstobe provided,in any othercalendar year,(iii) the
reimbursementofan eligibleexpense willbe madeno later than thelast dayofthe calendar year
followingthe yearinwhichthe expenseis incurred,and(iv)the righttoreimbursementor in kind
benefitsisnot subjectto liquidationor exchange foranother benefit.Notwithstandingany provision
containedherein, in noevent shallthe Companybe obligatedtoreimbursethe
Employeeforany additionaltax (orrelated penaltiesand interest) Employeemay incur byreason
ofapplicationofSection409A."Terminationofemployment,""resignation"or wordsofsimilar
import,as usedin thisAgreement shallmean, with respecttoany paymentssubjecttoSection
409A,the Employee's"separationfromservice"as definedbySection409A.
14.
Notices
Any notice,consent,waiver and other communicationsrequired orpermittedpursuant to
the provisionofthis Agreementmust bein writing andshall bedeemedtohave beenproperly
given (a)when deliveredbyhand; (b)when sent byemail (with acknowledgementofcomplete
transmission),providedthat a copyis alsomailed byU.S. certifiedmail return receiptrequested;
(c) five(5) daysaftersent bycertifiedmail, return receiptrequested;or (d)three (3) days after
depositwith a nationallyrecognizedovernightdeliveryservice,in each casetothe appropriate
addressesand email addressesset forthbelow:
Ifto Employee:
NameBrett Holbrook
Address[Redacted]
If tothe Company:
CoronadoGlobalResources
Lvl 33 CP1
,
345 Queen Street
Brisbane,4000,Australia
15.
Indemnity
Employerwill, tothe maximumextentpermittedbyEmployer'sbylawsand applicable
law, indemnifyand holdEmployeeharmless forany actsor decisionsmade in goodfaithwhile
performingservicesforEmployer;providedhowever,actsdeterminedbya courtofcompetent
jurisdictiontobe actsofgrossnegligenceorwillfulmisconductwill notbe deemedtobe in good
faith.
Signature Page Follows
IN WITNESSWHEREOF,the dueexecutionhereofas ofthe datefirstabovewritten.
CORONADOGLOBALRESOURCES
/s/JackPauley
Witness:VP-HR JackPauley
INC.
/s/JeffreyBitzer
By:
JeffreyBitzer
ChiefOperatingOfficer
/s/Brett Holbrook
/s/Emma Pollard
Witness:Emma Pollard
By:
Brett Holbrook