Durwood Domisse (Wisconsin, b. 1938) Near Yancey Mills Oil on canvas, 1989,

Motleys Asset Disposition Group 3600 Deepwater Terminal Road, Richmond, VA 23234 804-232-3300 www.motleys.com SALE INFORMATION & AUCTION TERMS AND CONDITIONS JAMES RIVER COAL COMPANY LIQUIDATION AUCTION CONTACT PHONE NUMBER: (804) 232-3300 BIDDING BEGINS: Monday, April 13, 2015 @ 5:00 PM BIDDING CLOSES: Thursday, April 30, 2015 beginning @ 5:00 PM INSPECTION: Tuesday, April 28, 2015; 2:00 PM – 7:00 PM at the Jefferson Hotel, Richmond, Virginia. BUYER’S PREMIUM: 15% Buyer’s Premium per lot. $10 minimum buy fee per lot (unless otherwise announced). INTERNET FEE: A 3% Internet Fee is in effect per lot. SALES TAX: 5.3% Sales tax per lot applied, including Buyer’s Premium and Internet Premium. HANDLING FEE: An additional 3% handling fee is in effect. The 3% Handling Fee will be waived for each account paid for on time according to Motleys payment terms, and paid for by cash, cashier’s or certified bank check, or wire transfer. DEPOSIT: Motleys reserves the right to charge Buyer’s credit card a $500 deposit, place a $500 hold on your credit card, or charge the purchase price up to $500 at the fall of the hammer. MOTLEY’S PAYMENT TERMS: Invoices will be sent to the buyer’s registration email address immediately following the close of the sale. Payment in full in U.S. Dollars is due by 4:00 PM, Tuesday, May 5, 2015. NO EXCEPTIONS! All physical payments must be made at 3600 Deepwater Terminal Road, Richmond, VA 23234. A $75 per day Late Payment Fee will be charged on outstanding balances. Payment is accepted by Cash, Cashier’s or Certified Bank Check, Wire Transfer, or Visa/MasterCard/Discover. If no contact is made by the buyer by this deadline, we will automatically process the payment on the credit card that was provided at registration. REMOVAL: Friday, May 1, 2015 – Thursday, May 7, 2015 from 9:00 AM – 3:00 PM. NO EXCEPTIONS! All items remaining after 3:00 PM on May 7, 2015 will be considered abandoned. NOTE: Motleys Asset Disposition Group wants all of our customers to feel they have been treated fairly. Please do not enter a bid on an item if you do not feel comfortable with, or have any doubts regarding an item, its condition or authenticity. All items are sold AS IS, WHERE IS, AND WITH ALL FAULTS. Inspect all equipment prior to bidding or placing bids. THERE WILL BE NO ADJUSTMENTS TO THE FINAL BID PRICE AFTER THE BIDDING CLOSES. Information provided is only a guide and is not a warranty or guarantee, actual or implied. All information furnished is from sources believed to be reliable, but is not guaranteed and is subject to errors, transcriptions, omissions and deletions. Further, Auctioneer is not responsible for a bidders inability to place any bid, internet or otherwise for this auction for any reason. In the event of technology issues with Internet sales, the Auctioneer reserves the right to act and proceed as it deems necessary and appropriate. ADDITIONAL TERMS & CONDITIONS OF SALE. All persons bidding or otherwise attending auction (“Bidders”) acknowledge the following terms and conditions (“Terms and Conditions”) and agree to be bound by them. 1. Bidding. Bidding is open to the public without regard to race, color, sex, sexual orientation, religion, or national origin. All bidders are required to register and have a bidder’s number to bid. To register and obtain a bidder number one must supply a government issued photo id, credit card and complete a registration form that includes: full name, address, phone number, email address, credit card information and signature agreeing to the terms and conditions of the auction. 2. Bidding Procedures. (1) Method, order of sale, and bidding increments shall be at the sole discretion of the auctioneer. (2) The auctioneer reserves the right to delete or add items at its discretion. (3) Motleys may act to protect the interest of buyers and sellers as an agent, by bidding through the auctioneer. (4) The auctioneer may open bidding on any item by placing a bid as an agent for any buyer or seller. (5) The auctioneer may continue to bid as an agent for a buyer or seller, either by placing consecutive bids or by placing bids in response to other bidders. 3. Auctioneer Authority. Announcements (both verbal and written) made on the day of the auction will take precedence over all printed material or oral statements made. The auctioneer has the authority, at his sole and absolute discretion, to deviate from, change, alter, or modify, the bidding procedures and conduct of the auction, at any time, including after commencement of the auction. 4. Bid Execution. Bids which are submitted to Motleys in writing, through the Internet, or otherwise placed with Motleys prior to or during an auction for execution at or below a specified price shall be entertained and executed by Motleys for the convenience of bidders. Motleys shall not be responsible for failing to execute such bids or for errors relating to the execution or such bids. Auctioneer is not responsible for a bidders inability to place any bid, internet or otherwise, for this auction for any reason. In the event of technology issues with internet auction sales, or for other reasons, the Auctioneer reserves the right to reopen or extend Internet bidding and proceed as it deems necessary and appropriate. 5. Purchaser Defined. The highest bidder whose bid is accepted by Motleys Asset Disposition Group (“Motleys” or “Auctioneer” or “Proxibid”), is the Purchaser (“Purchaser”). The “Final Bid” shall be the Purchaser’s bid as accepted by Proxibid, and all items are “Purchased” when the Purchase Price is accepted. 6. Buyer’s Premium and Internet Fee. The Buyer’s Premium and Internet Fee shall be paid by the Purchaser and will be added to the Final Bid on each item to determine the “Purchase Price”. 7. ALL SALES ARE FINAL. All bidders are responsible to determine the age, description, condition, and authenticity of all Purchased items. Each item is auctioned “AS IS, WHERE IS, with all faults” in its condition at the time of sale, without any warranties or guarantees, either expressed or implied, INCLUDING BUT NOT LIMITED TO WARRANTIES OF TITLE, POSSESSION, QUIET ENJOYMENT, MERCHANTABILITY, OR FITNESS FOR A PARTICULAR PURPOSE, and without recourse by way of refund, reduction of the Purchase Price, or otherwise. No purchase will be set aside, nor will Auctioneer be liable, for incorrectness in description, misnomer, and errors in cataloging, imperfection, or mislabeling of any item. 8. Catalog. The listing catalog has been prepared only as a guide based on information from sources believed to be reliable, but the accuracy thereof cannot be guaranteed or warranted by Motley’s. Any information provided by Motleys or its representatives, verbal or otherwise, is not guaranteed. Purchaser acknowledges that all items were available for inspection prior to the close of the auction and that Purchaser relies on his own inspection of the items or lack thereof and not the information listed in the catalog or otherwise provided by Motleys. 9. Disputes. Should a dispute arise between two or more bidders, the Auctioneer may re-open the bidding between the high bidders until the property is purchased. The Auctioneer will determine the purchaser and his decision shall be final and absolute. 10. Risk of Loss. Upon the fall of the hammer, or when the Auctioneer says “sold,” or when the internet auction closes, risk of loss shall pass to the Purchaser. Motleys accepts no responsibility for any loss or damage to any Purchased item once the hammer falls. It shall be the responsibility of the Purchaser to insure all Purchased items immediately. 11. Sales Tax. Sales or Use Taxes will be added to the Purchase Price of all taxable Purchased items. A current sales tax exemption certificate including sales tax exemption number must be presented to avoid paying sales tax. 12. Payment. All buyers must abide by the “payment terms” set forth for this sale. Motleys may refuse to allow removal of any or all Purchased items and of Purchaser until the Purchaser pays all amounts due and owing Motleys. 13. Removal and Storage/Handling Fees. Purchasers must pay in full for all items purchased prior to removing any item(s). Purchasers must remove all purchased items from the auction site within the time allotted for removal. Purchaser takes full responsibility for the removal of purchased items and holds harmless and indemnifies the consignor and Auctioneer for any damage or injury in the removal process. If for any reason Purchaser fails to remove any items from the auction site in accordance with this paragraph, including Purchaser’s failure to make full and complete payment of all sums due and owing to Motleys, Purchaser agrees to pay Motleys a storage fee of twenty-five dollars ($25.00) per item, per day, and reasonable handling, transportation, maintenance, security and insurance fees and /or costs. Motleys may store any such unremoved item(s), and refuse to allow its removal, until payment of all storage, reasonable handling, transportation, maintenance, security and insurance fees and/or costs are paid in full. 14. Default by Purchaser. In the event Purchaser fails to pay the full Purchase Price of any Purchased items as per these Terms and Conditions, or other amounts due Motleys, Purchaser agrees to pay Motleys a storage fee of twenty-five dollars ($25.00) per day, per item left at the auction site, and all storage, reasonable handling, transportation, maintenance, security and insurance fees and/or sales costs. Additionally, Purchaser agrees to grant Motleys a lien on all purchased items and all property of Purchaser consigned for auction with Motleys, and the proceeds of the sale of such property, until all the Purchase Price and all other sums due Motleys are paid in full. Motleys lien shall include the Purchase Price, all sales and use taxes paid by Motleys, buyer’s premium, internet fee, sales tax, storage, reasonable handling, transportation, maintenance, security and insurance fees and/or costs and other amounts due Motleys from Purchaser. In addition, Motleys, at its sole discretion, shall have the right to resell such items by public or private sale at a commission rate of Twenty-five (25%) percent. Purchaser grants Motleys the right to withhold from the proceeds of such resale any and all sums due Motleys. Motleys exercise of its right to resell any items in accordance with this paragraph, shall not prevent Motleys from recovering the Purchase Price or any other amount due Motleys from the Purchaser. 15. Abandoned Property. Motleys may deem abandoned any item left at the auction site after the time provided for removal. In addition, Motleys, at its sole discretion, shall have the right to resell such items by public or private sale at a commission rate of Twenty-five (25%) percent if not removed within thirty (30 days after the auction closes. Purchaser grants Motleys the right to withhold from the proceeds of such resale any and all sums due Motleys. Any sum remaining after full and complete payment of all amounts due and owing to Motleys shall be provided to the Purchaser. Motleys exercise of its right to sell any items in accordance with this paragraph, shall not prevent Motleys from recovering the Purchase Price or any other amount due Motleys from the Purchaser. Redemption of any abandoned goods will be allowed after complete payment of the Purchase Price and all other amounts due and owing to Motleys. 16. Withdrawn Property. Motleys reserves the right to withdraw any individual items or to cancel the sale of any items or offer any items in lots of groups. Motleys reserves the right to cancel the entire auction without notice or liability to Motleys. 17. Unauthorized Conduct. Motleys reserves the right to refuse any bidder registration privileges at any auction and/or refuse access to, or remove any person from the inspection site or auction site for any reason including, but not limited to: 1) tampering with items offered for sale, 2) collusive bidding, 3) stealing, 4) failure to abide by these Terms and Conditions, 5) intoxication, (6) inappropriate behavior. All Bidders acknowledge Motleys right to refuse access and to remove Bidders for such conduct and agree to leave the inspection site or auction site upon request by Motleys. 18. “Buy Backs”. The owner of any item being sold may not bid on that item. 19. Notice. Except for announcements made pursuant to paragraph 3 of these Terms and Conditions, these Terms and Conditions may not be amended in any way, except by a signed, written agreement between Motleys and the Purchaser. 20. Arbitration. Bidders agree that any controversy or claim arising out of or relating to these Terms and Conditions shall be settled by arbitration in Richmond, Virginia, administered by the American Arbitration Association in accordance with its Commercial Arbitration Rules, and judgment on the award rendered by the arbitrator may be entered in any court having jurisdiction thereof. Bidders agree that Motleys shall be entitled to its reasonable attorneys’ fees incurred in any arbitration or action to enforce or otherwise related to these Terms and Conditions. 21. SHERMAN ANTITRUST ACT. Title 15, Section 1 of the United States Code specifically prohibits any agreements that restrain trade and commerce and declares them to be illegal and a federal felony. The law provides: 'every contract, combination in the form of trust or otherwise, or conspiracy, in restraint of trade or commerce among the several States, or with foreign nations, is declared to be illegal. Every person who shall make any contract or engage in any combination or conspiracy hereby declared to be illegal shall be deemed guilty of a felony, and, on conviction thereof, shall be punished by fine not exceeding $10,000,000 if a corporation, or, if any other person, $350,000, or by imprisonment not exceeding three years, or by both said punishments, in the discretion of the court.' Any agreement among potential bidders at this auction not to bid against one another, or otherwise to dampen the bidding process, is illegal and will be immediately reported by Motleys to the United States Attorney and the Department of Justice for investigation and prosecution. This is a very serious matter and we want you to view it as such and conduct yourselves accordingly. 22. Claims: No claims will be allowed after removal of goods from premises or left on premises past removal deadline. 23. Responsibility for Non-Delivery: Neither the auctioneer nor the seller, in any event, shall be liable for non-delivery or for any other matter or thing, to any purchaser of any lot, other than the return to the purchaser of the deposit or sum paid on said lot, should the purchaser be entitled thereto. 24. Acceptance. Bidding on any items or otherwise attending the auction indicates acceptance of these Terms and Conditions.