Alpha Natural Resources, Inc. Independent Director Compensation Description

Summary

Alpha Natural Resources, Inc. outlines the compensation for its independent directors, including annual retainers, meeting fees, and stock grants. Independent directors receive a $40,000 annual retainer, additional fees for committee chair roles, and per-meeting payments. The Lead Independent Director and committee chairs receive extra annual retainers. Directors are also granted restricted stock upon joining and annually thereafter. Directors may defer some or all of their fees under a deferred compensation plan. This summary details the key terms and payment structure for independent board members.

EX-10.1 2 descriptionofcompensation.htm DESCRIPTION OF COMPENSATION PAYABLE TO INDEPENDENT DIRECTORS descriptionofcompensation.htm

EXHIBIT 10.1

ALPHA NATURAL RESOURCES, INC.

DESCRIPTION OF COMPENSATION PAYABLE

TO INDEPENDENT DIRECTORS

The following is a description of Alpha Natural Resources, Inc.'s (the "Company") annual fees and payments^* to independent directors of the Company for their services on the Company's Board of Directors (the "Board") and committees of the Board ("Committees"):

(i)	$40,000 annual retainer for service on Board;

(ii)	$10,000 annual retainer for additional service as Chairman of the Audit Committee;

(iii)

$5,000 annual retainer for additional service as Chairman of any Committee other than the Audit Committee;

(iv)	$2,000 per-meeting fee for attendance at Board meetings;

(v)	$2,000 per-meeting fee for in-person attendance and $1,000 per-meeting fee for telephonic attendance at Committee meetings;

(vi)	$12,500 annual retainer for service as the Lead Independent Director of the Board;

(vii)

Initial, one-time grant of restricted stock with a fair market value of approximately $80,000 on the grant date upon joining the Board; and

(viii)

Annual grant of restricted stock with a fair market value of approximately $50,000 on the grant date for each year of service (commencing the year after joining the Board).

^* All or a portion of the fees earned for services performed as a member of the Board or any Committee may be deferred into the Director Deferred Compensation Agreement.