Common use of Effect on Trustees Clause in Contracts

Effect on Trustees. The Trustees have established this Plan solely in their capacity as Trustees on behalf of the Fund and the obligations of the Fund hereunder shall not be personally binding upon the Trustees or any of the Unitholders of the Fund or any annuitant under a plan of which a Unitholder is a trustee or carrier (“annuitant”). Any recourse against the Fund, the Trustees or any Unitholder or annuitant in any manner in respect of any indebtedness, obligation or liability of the Fund arising hereunder or arising in connection herewith or from the matters to which this Plan relates, if any, including, without limitation, claims based on negligence or otherwise tortious behaviour, shall be limited to, and satisfied only out of the Fund’s assets, without recourse to the personal assets of any of the foregoing persons. TO: Solium Capital Inc. FROM: G▇▇▇ ▇▇▇▇▇▇▇ Title: 710, 8▇▇ ▇(▇▇) ▇▇▇▇▇▇ ▇▇ ▇▇▇▇▇▇▇, ▇, ▇▇▇ ▇▇▇ Work Address: Phone: (▇▇▇) ▇▇▇-▇▇▇▇ Phone: Fax: (▇▇▇) ▇▇▇-▇▇▇▇ Fax: I hereby elect to exercise Exchange Options of Fording Canadian Coal Trust (the “Fund”) granted to me under the provisions of the Exchange Option Plan (the “Plan”) dated . The grant ID was and the Exercise Price of these Exchange Options was set as $ per Optioned Unit. I have enclosed a certified cheque, bank draft or money order in the amount of $ (number of options being exercised x Exercise Price) representing the cost to purchase Units of the Fund and any tax payable in accordance with Section 5.4 of the Plan. I request that the certificate be registered and delivered as follows: Address: City/Province: Postal Code: I hereby elect to exercise Unit Appreciation Rights (UARs) of the Fund granted to me under the provisions of the Exchange Option Plan dated . The grant ID was and the price of these UARs are set at $ per unit. Current Revenue Canada/Quebec administrative practice provides that 50% of the appreciation realized by the UAR exercise is exempt from income tax. The remaining 50% of the appreciation will be taxed at the top marginal rate. (Address I would like my cheque mailed to) Dated: (City/Province/Postal Code) To be completed by Solium Capital Inc. and faxed to the Fund: Solium Capital Inc. confirms that is eligible to exercise the entitlement indicated herein. Solium Capital Inc. Date This Option Agreement is entered into between Fording Canadian Coal Trust (the “Fund”) and the optionholder named below (the “Optionholder”) is a participant in the Fording Canadian Coal Trust Exchange Option Plan (the “Plan”), a copy of which is attached hereto. The Optionholder hereby confirms that: 1. on 200l (the “Grant Date”); 2. the Optionholder; 3. was granted an option (the “Exchange Option”) to purchase l Units (the “Optioned Units”) of the Fund to indirectly replace and exchange for the Optionholder’s Original Options (as defined in the Plan); 4. at a price (the “Exercise Price”) of $ l per Optioned Unit; and 5. for a term expiring at 5:00 p.m., l time, on l (the “Expiry Date”); on the terms and subject to the conditions set out in the Plan. By signing this agreement, the Optionholder acknowledges that he has read and understands the terms of the Plan and accepts the Exchange Option in exchange for his Original Options in accordance with the terms of the Plan.

Effect on Trustees. The Trustees have established this Plan solely in their capacity as Trustees on behalf of the Fund and the obligations of the Fund hereunder shall not be personally binding upon the Trustees or any of the Unitholders of the Fund or any annuitant under a plan of which a Unitholder is a trustee or carrier (“annuitant”"Annuitant"). Any recourse against the Fund, the Trustees or any Unitholder or annuitant in any manner in respect of any indebtedness, obligation or liability of the Fund arising hereunder or arising in connection herewith or from the matters to which this Plan relates, if any, including, without limitation, claims based on negligence or otherwise tortious behaviour, shall be limited to, and satisfied only out of the Fund’s 's assets, without recourse to the personal assets of any of the foregoing persons. SCHEDULE A - NOTICE OF EXERCISE FORDING CANADIAN COAL TRUST EXCHANGE OPTION PLAN TO: Solium Capital Inc. FROM: G▇▇▇ ▇▇▇▇▇▇▇ Geri Langley Title: 710, 8▇▇▇ ▇(▇▇) ▇▇▇▇▇▇ ▇▇ ▇Avenue SW Work Address: C▇▇▇▇▇▇, ▇, ▇▇▇ ▇▇▇ Work Address: Phone: (403) 515-3909 ▇▇▇) ▇▇▇-▇▇▇▇ Phone: Fax: (▇▇40▇) ▇▇▇-▇▇▇▇ Fax: I hereby elect to exercise Exchange [_] ▇▇▇▇▇▇▇▇ Options of Fording Canadian Coal Trust (the “Fund”"FUND") granted to me under the provisions of the Exchange Option Plan (the “Plan”"PLAN") dated [____]. The grant ID was and the Exercise Price of these Exchange Options was set as $ [____]per Optioned Unit. I have enclosed a certified cheque, bank draft or money order in the amount of $ (number of options being exercised x Exercise Price) representing the cost to purchase Units of the Fund and any tax payable in accordance with Section 5.4 of the Plan. I request that the certificate be registered and delivered as follows: Address: City/Province: Postal Code: I hereby elect to exercise Unit Appreciation Rights (UARs) of the Fund granted to me under the provisions of the Exchange Option Plan dated . The grant ID was and the price of these UARs are set at $ per unit. Current Revenue Canada/Quebec administrative practice provides that 50% of the appreciation realized by the UAR exercise is exempt from income tax. The remaining 50% of the appreciation will be taxed at the top marginal rate. (Address I would like my cheque mailed to) Dated: (City/Province/Postal Code) To be completed by Solium Capital Inc. and faxed to the Fund: Solium Capital Inc. confirms that is eligible to exercise the entitlement indicated herein. Solium Capital Inc. Date This Option Agreement is entered into between Fording Canadian Coal Trust (the “Fund”) and the optionholder named below (the “Optionholder”) is a participant in the Fording Canadian Coal Trust Exchange Option Plan (the “Plan”), a copy of which is attached hereto. The Optionholder hereby confirms that: 1. on 200l (the “Grant Date”); 2. the Optionholder; 3. was granted an option (the “Exchange Option”) to purchase l Units (the “Optioned Units”) of the Fund to indirectly replace and exchange for the Optionholder’s Original Options (as defined in the Plan); 4. at a price (the “Exercise Price”) of $ l per Optioned Unit; and 5. for a term expiring at 5:00 p.m., l time, on l (the “Expiry Date”); on the terms and subject to the conditions set out in the Plan. By signing this agreement, the Optionholder acknowledges that he has read and understands the terms of the Plan and accepts the Exchange Option in exchange for his Original Options in accordance with the terms of the Plan.

Effect on Trustees. The Trustees have established this Plan solely in their capacity as Trustees on behalf of the Fund and the obligations of the Fund hereunder shall not be personally binding upon the Trustees or any of the Unitholders of the Fund or any annuitant under a plan of which a Unitholder is a trustee or carrier (“"annuitant”"). Any recourse against the Fund, the Trustees or any Unitholder or annuitant in any manner in respect of any indebtedness, obligation or liability of the Fund arising hereunder or arising in connection herewith or from the matters to which this Plan relates, if any, including, without limitation, claims based on negligence or otherwise tortious behaviour, shall be limited to, and satisfied only out of the Fund’s 's assets, without recourse to the personal assets of any of the foregoing persons. SCHEDULE A -- NOTICE OF EXERCISE FORDING CANADIAN COAL TRUST EXCHANGE OPTION PLAN TO: Solium Capital Inc. FROM: GGeri Langley Title: 7▇▇▇ , ▇▇▇▇▇▇▇ Title: 710, 8▇▇ ▇(▇▇) ▇▇▇▇▇▇ ▇▇ Avenue SW Work Address: ▇▇▇▇▇▇▇, ▇, ▇▇▇ ▇▇▇ Work Address: 7 Phone: (403) 515-3909 ▇▇▇) ▇▇▇-▇▇▇▇ Phone: Fax: (▇▇▇) ▇▇▇-▇▇▇▇ Fax: I hereby elect to exercise Exchange Options ▇▇▇▇▇▇▇▇ ▇▇▇▇▇ns of Fording Canadian Coal Trust (the “"Fund”") granted to me under the provisions of the Exchange Option Plan (the “"Plan”") dated . The grant ID was and the Exercise Price of these Exchange Options was set as $ per Optioned Unit. I have enclosed a certified cheque, bank draft or money order in the amount of $ (number of options being exercised x Exercise Price) representing the cost to purchase Units of the Fund and any tax payable in accordance with Section 5.4 of the Plan. I request that the certificate be registered and delivered as follows: Address: City/Province: Postal Code: I hereby elect to exercise Unit Appreciation Rights (UARs) of the Fund granted to me under the provisions of the Exchange Option Plan dated . The grant ID was and the price of these UARs are set at $ per unit. Current Revenue Canada/Quebec administrative practice provides that 50% of the appreciation realized by the UAR exercise is exempt from income tax. The remaining 50% of the appreciation will be taxed at the top marginal rate. (Address I would like my cheque mailed to) Dated: (City/Province/Postal Code) To be completed by Solium Capital Inc. and faxed to the Fund: Solium Capital Inc. confirms that is eligible to exercise the entitlement indicated herein. Solium Capital Inc. Date This Option Agreement is entered into between Fording Canadian Coal Trust (the “Fund”) and the optionholder named below (the “Optionholder”) is a participant in the Fording Canadian Coal Trust Exchange Option Plan (the “Plan”), a copy of which is attached hereto. The Optionholder hereby confirms that: 1. on 200l (the “Grant Date”); 2. the Optionholder; 3. was granted an option (the “Exchange Option”) to purchase l Units (the “Optioned Units”) of the Fund to indirectly replace and exchange for the Optionholder’s Original Options (as defined in the Plan); 4. at a price (the “Exercise Price”) of $ l per Optioned Unit; and 5. for a term expiring at 5:00 p.m., l time, on l (the “Expiry Date”); on the terms and subject to the conditions set out in the Plan. By signing this agreement, the Optionholder acknowledges that he has read and understands the terms of the Plan and accepts the Exchange Option in exchange for his Original Options in accordance with the terms of the Plan.