Natural Resource Partners L.P., a Delaware limited partnership (the “ Company ”), and NRP Finance Corporation, a Delaware corporation (the “ Finance Corp .” and, together with the Company, the “Issuers”), jointly and severally promise to pay interest on the unpaid principal amount of this Note at 10.500% per annum [and shall pay any Additional Interest payable pursuant to the Registration Rights Agreement referred to below. References herein to “interest” include such Additional Interest to the extent applicable.] The Issuers will pay interest semi-annually in arrears on March 1 and September 1 of each year, commencing September 1, 2017, or if any such day is not a Business Day, on the next succeeding Business Day (each an “ Interest Payment Date ”). Interest on the Notes will accrue from the most recent date to which interest has been paid or, if no interest has been paid, from [ ] [the date of original issuance]; provided that if there is no existing Default or Event of Default in the payment of interest, and if this Note is authenticated between a record date referred to on the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date, except in the case of the original issuance of Notes, in which case interest shall accrue from the date of authentication. The Issuers shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal and premium, if any, from time to time on demand at a rate that is the rate then in effect, to the extent lawful; and they shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest (without regard to any applicable grace periods), from time to time on demand at the same rate, to the extent lawful. Interest will be computed on the basis of a 360-day year of twelve 30-day months.