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SETTLEMENT AGREEMENT This Settlement Agreement is made as of the 20th day of June, 1995, by and between Colorado West Leasing ("CWL") and the State of Colorado ("State"), acting through the Division of Minerals and Geology ("DMG"), a division of the Colorado Department of Natural Resources. Reci als A. CWL and the State entered into an agreement by which CWL was to perform certain mine reclamation work designated as the GEC/East Pit Coal Reclamation Project. The agreement resulted from CWL's response to Invitation and Bid No. RN- MINES-322 issued by the DMG on December 28, 1993, and was confumed by the State's Purchase Order No. C-70964 issued to CWL dated February 16, 1994. All documents which define the terms of the agreement are hereinafter collectively referred to as the "Contract." B. Certain disagreements arose between C WL and the DMG regarding the terms of the Contract, CWL's performance and the amount due CWL from the State. These disagreements were the subject of administrative processes before the DMG and the Colorado Department of Administration from November 1994 through May 1995, following which CWL advised the DMG that it intended to pursue its claims under the Contract by initiating judicial litigation. C. Subsequently, the parties engaged in settlement discussions and reached a compromise resolving all of their respective claims against each other under the Contract by settlement and compromise. This Settlement Agreement sets forth the terms of the parties' compromise. Now; therefore, in consideration of the mutual covenants and agreements set forth below, the sufficiency of which is acknowledged by both parties, CWL and the State agree as follows: 1. The DMG will pay CWL $25,727.00 promptly after execution of this Settlement Agreement. 2. CWL agrees not to initiate judicial litigation against the State or the DMG with respect to its claims under the Contract. }116F1, Ml9)