DREDGING SERVICES AGREEMENT
THIS AGREEMENT, dated July 14, 2004, is by and between DTE DICKERSON LLC, a Michigan limited
liability company (hereinafter "Owner"), whose address is 425 South Main Street, Ann Arbor, Michigan 48104,
and BEARD TECHNOLOGIES, INC., an Oklahoma corporation (hereinafter "Contractor"), whose address is
355 William Pitt Way, Pittsburgh, Pennsylvania 15238.
A. Owner is a coal processing and preparation company principally involved in the business of recovering and
processing fine coal from a slurry impoundment of coal mining waste owned by it and known as the Dickerson #3
Pond located in Harrison County, Ohio (hereinafter "Dickerson Pond") at Owner's coal preparation facility
("Owner's Facility") adjacent to the Dickerson Pond.
B. Contractor is a technical support and contracting firm with extensive expertise in slurry pond recovery
C. Owner and Contractor desire to enter into an agreement whereby Contractor will dredge/mine the Dickerson
Pond and provide fine coal slurry to Owner's Facility for processing.
In consideration of the promises and covenants contained herein, Owner and Contractor hereby agree as follows:
1. Contractor's Duties and Responsibilities
1.1 Contractor shall provide (and be responsible for all of the costs related thereto) any and all designs, plans,
know-how, labor and related benefits, supervision, materials, equipment and tools, including, without limitation,
the equipment listed on Exhibit A attached hereto and maintenance, repair and replacement of such equipment,
(but excluding Owner's duties and responsibilities in Section 2 hereof and the equipment to be provided by
Owner described on Exhibit B attached hereto) to dredge/mine the Dickerson Pond and provide a coal/water
slurry at the plant wall of Owner's Facility: (a) at the rate of 150 "dry tons" (as hereinafter defined) per hour; (b)
at a consistency of 35% or higher slurry solids; and (c) with continuous operations of 24 hours per day and seven