Retirement Agreement



 EXHIBIT 10.1 
 RETIREMENT AGREEMENT 
  

	To:	Tod C. Holmes  

  

	Re:	Retirement 

  

 
 Your employment with the
Company1 will end on May 1, 2013 (or, as described
below, such earlier date as requested by the Company) as a result of your retirement pursuant to Section 25 of your May 14, 2009 Amended and Restated Employment Agreement (“Employment Agreement”). To make sure that your
retirement occurs on mutually acceptable terms, the Company is prepared to make certain commitments to you in exchange for certain promises you will make to the Company. By signing this Retirement Agreement (“Agreement”) you will be
accepting the Company’s offer and entering into a legally binding agreement on the terms stated below effective on the date the Company signs this Agreement. 
 Retirement Date 
 Pursuant to your Employment Agreement, you provided notice to the
Company on April 24, 2012 that you intend to retire on May 1, 2013. As you know, prior to your retirement, the Company must select and appoint your successor and make sure that there is adequate time to transition your duties and
responsibilities to your successor. The Company appreciates your willingness to help select your successor and to be available either as Chief Financial Officer (“CFO”) or as the Special Assistant to the CEO (“Special Assistant”)
prior to your retirement to provide assistance to your successor to ensure for a smooth transition in addition to your continuing with your regular employment duties and responsibilities. The Company also appreciates that following your retirement
you will be available to provide assistance to your successor and to the Company. 
 The Company has determined that the transition may be
successfully concluded prior to May 1, 2013 and that if it is, it may be in the Company’s best interests to ask you to retire prior to May 1, 2013. You acknowledge and agree that if requested by the Board of Directors of the Company
(the “Board”), you will retire on a date prior to May 1, 2013 as requested by the Board. In consideration for your agreement to retire prior to May 1, 2013 if requested to do so by the Board, your agreement to help in the
transition in addition to performing your regular duties and responsibilities, and your agreement to provide assistance after your retirement, the Company has determined based upon these and other facts and circumstances that it is in the best
interests of the Company to provide you with the benefits described below following your Retirement Date. For purposes of this Agreement, “Retirement Date” shall mean the earlier of (a) May 1, 2013 and (b) the date on which
you retire at the request of the Board. 
  
  

	1 	 In this Agreement, the “Company” means Republic Services, Inc., its subsidiary, affiliated, predecessor and successor corporations and
entities, and its and their past and present officers, directors, agents and employees. 









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 You
acknowledge and agree that, on your Retirement Date, you will retire as CFO (or, if the Board has appointed the successor CFO prior to your Retirement Date, Special Assistant) and your employment with the Company will end. You also agree that on or
before your Retirement Date you will resign as officer and director of all Republic subsidiaries and affiliates for which you are then serving as officer or director. All of the terms and conditions of your Employment Agreement remain in full force
and effect until your Retirement Date, except that you acknowledge and agree, notwithstanding any provisions in the Employment Agreement to the contrary, that any changes in your title, duties or responsibilities as a result of the Board’s
appointing the successor CFO and your becoming Special Assistant to the CEO (including without limitation your resignation as officer and director of Republic subsidiaries and affiliates) will not constitute Good Reason under the Employment
Agreement and that this provision amends your Employment Agreement. Upon your Retirement Date, your Employment Agreement will expire and your rights and obligations will be determined solely under this Agreement, except as set forth below. If you
have a termination of employment for any reason prior to your Retirement Date, this Agreement shall have no effect except as specifically provided in this section and in the section entitled Accelerated Restricted Stock Award. 

Purpose of Retirement Agreement 

As is set forth more specifically below, the benefits provided to you by this Agreement which are additional to those provided to you under the Employment
Agreement consist of the following: in the event you retire earlier than May 1, 2013 at the request of the Board, you will receive Base Salary (or equivalent), annual and long-term bonuses (or equivalent), continued health benefits, continued
exercisability of options and an annual equity grant equivalent as if you had remained employed through May 1, 2013. The annual equity grant equivalent will be in lieu of an equity grant for 2013. You will receive the equity grant shortly after
execution of this Agreement and the value of this equity grant will be prorated to four-twelfths of the grant-date value of your annual equity grant for 2012. Finally, this Agreement reflects your agreement to provide assistance to your successor
and to the Company after your retirement. 
 Accelerated Restricted Stock Award 

In consideration of your entering into the Retirement Agreement to ensure a smooth and orderly transition and your agreement to help select your successor
and to be available prior to your retirement to provide assistance to your successor (in addition to your regular duties and responsibilities) and to provide transition consulting services as described herein after your retirement, promptly after
the date that the Company signs this Retirement Agreement, the Company will grant you a number of shares of Restricted Stock equal to $583,333 divided by the per share closing price on the grant date (rounded up to the next whole share). The award
agreement for the Restricted Stock will be substantially in the form attached hereto and will include, among other provisions, that, notwithstanding any provisions of the Employment Agreement to the contrary, if you have a termination of employment
for any reason prior to your Retirement Date and prior to February 8, 2013, you will forfeit the shares of Restricted Stock granted pursuant to this Retirement Agreement. No dividends will be payable on the Restricted Stock granted pursuant to
this Retirement Agreement for which the dividend record date is before February 8, 2013. This accelerated restricted stock award will be in lieu of a discretionary annual grant of equity for Fiscal Year 2013. You acknowledge and agree that the
foregoing provisions 







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relating to your accelerated restricted stock award amends your Employment Agreement so that the vesting and forfeiture of such restricted stock is governed by the foregoing provisions of this
paragraph and the award agreement, and not the provisions contained in your Employment Agreement (except to the extent otherwise specifically provided in the award agreement). 
 Benefits 
 Following your Retirement Date, the Company will provide you the
following: 
  

	 	•	 	 The Company shall pay to you any accrued but unpaid Base Salary that you have earned through your Retirement Date including all accrued but unused
vacation days; 


  

	 	•	 	 The Company shall continue to pay for and provide all health benefits in which you and your family were entitled to participate at any time during the
12-month period prior to your Retirement Date, until the earliest to occur of (a) May 1, 2015, (b) your death, or (c) the date on which you become covered by a comparable health benefit plan by a subsequent employer. The Company
will not continue any other group insurance coverage, such as long-term disability or accident coverage, beyond your Retirement Date because these plans are not considered health plans; 



 

	 	•	 	 On the sixth month anniversary of your Retirement Date (or, if earlier, on the date of your death), the Company shall pay to you, in a lump sum cash
payment, $1,900,000; 


  

	 	•	 	 The balance of all amounts credited or eligible to be credited to your deferred compensation account (the “Deferred Compensation Account”)
under the Deferred Compensation Plan (including all Company contributions, whether or not vested), will be payable to you in accordance with the Deferred Compensation Plan and any elections thereunder; 



 

	 	•	 	 On the sixth month anniversary of your Retirement Date (or, if earlier, on the date of your death), the Company shall pay to you a lump sum cash
gross-up payment equal to the amount of $3,100,000 to reimburse you for all income and other taxes imposed with respect to the payment of your deferred compensation that was credited or eligible to be credited to your Deferred Compensation Account
on or before December 31, 2006 and all income and other taxes arising as a result of said gross up payment; 


  

	 	•	 	 All of your stock option, restricted stock and restricted stock unit awards that are outstanding as of your Retirement Date shall fully vest upon your
Retirement Date and for purposes of determining the period after your retirement that you can exercise your stock options, your retirement date for such options will be May 1, 2013; 



 

	 	•	 	 If the Management Development and Compensation Committee (the “Compensation Committee”) has granted you an annual bonus award for 2013, the
Company shall pay you a prorated portion of such annual bonus award equal to the amount that the Compensation Committee determines would be payable to you had you remained employed through the end of the Performance Period based upon actual results
multiplied by a fraction, the numerator of which is the number of completed months of employment during such Performance Period and the denominator of which is the total number of months in the Performance Period, within 60 days after the end of
2013; 









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	 	•	 	 The Company shall pay you a prorated portion of your long term incentive award for 2011-2013 equal to the amount that the Compensation Committee
determines would be payable to you had you remained employed through the end of the Performance Period based upon actual results multiplied by a fraction, the numerator of which is the number of completed months of employment during such Performance
Period and the denominator of which is the total number of months in the Performance Period, within 60 days after the end of 2013; 


  

	 	•	 	 The Company shall pay you a prorated portion of your long term incentive award for 2012-2014 equal to the amount that the Compensation Committee
determines would be payable to you had you remained employed through the end of the Performance Period based upon actual results multiplied by a fraction, the numerator of which is the number of completed months of employment during such Performance
Period and the denominator of which is the total number of months in the Performance Period, within 60 days after the end of 2014; 


  

	 	•	 	 If the Compensation Committee has granted you a long term incentive award for 2013-2015, the Company shall pay you a prorated portion of such long term
incentive award equal to the amount that the Compensation Committee determines would be payable to you had you remained employed through the end of the Performance Period based upon actual results multiplied by a fraction, the numerator of which is
the number of completed months of employment during such Performance Period and the denominator of which is the total number of months in the Performance Period, within 60 days after the end of 2015; 



 

	 	•	 	 Within 60 days after your Retirement Date, the Company shall pay or reimburse you, in a lump sum cash payment, for any out-of-pocket expenses
reasonably incurred by you pursuant to Section 2(k) of your Employment Agreement prior to your Retirement Date, which would have been payable if you had not retired, provided that you provide proper documentation to the Company within 30 days
following your Retirement Date. 


 If your Retirement Date occurs prior to May 1, 2013, the Company will provide you with
the following additional benefits: 
  

	 	•	 	 On the sixth month anniversary of your Retirement Date (or, if earlier, on the date of your death), the Company shall pay you a lump sum cash payment
equal to the Base Salary that you would have received for the period after your Retirement Date and prior to May 1, 2013 had your employment continued until May 1, 2013; 



 

	 	•	 	 If your Retirement Date is on or after December 31, 2012 and prior to the date on which the Company pays its 2012 annual bonuses to its
executives, the Company shall pay you the amount of your 2012 annual bonus that the Compensation Committee determines would be payable to you based upon actual results, within 60 days after the end of 2012; 









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	 	•	 	 If your Retirement Date is prior to December 31, 2012, the Company shall pay you a prorated portion of your 2012 annual bonus equal to the amount
of your 2012 annual bonus that the Compensation Committee determines would be payable to you had you remained employed through the end of 2012 based upon actual results multiplied by a fraction, the numerator of which is the number of completed
months of employment during the Performance Period and the denominator of which is the total number of months in the Performance Period, within 60 days after the end of 2012; 



 

	 	•	 	 If your Retirement Date is on or after December 31, 2012 and prior to the date on which the Company pays its 2010-2012 long term incentive awards
to its executives, the Company shall pay you the amount of your 2010-2012 long term incentive award that the Compensation Committee determines would be payable to you based upon actual results, within 60 days after the end of 2012;



  

	 	•	 	 If your Retirement Date is prior to December 31, 2012, the Company shall pay you a prorated portion of your long term incentive award for
2010-2012 equal to the amount that the Compensation Committee determines would be payable to you had you remained employed through the end of the Performance Period based upon actual results multiplied by a fraction, the numerator of which is the
number of completed months of employment during such Performance Period and the denominator of which is the total number of months in the Performance Period, within 60 days after the end of 2012; 



 

	 	•	 	 For each annual bonus award and long-term incentive award for which the Performance Period has not ended prior to your Retirement Date, the Company
shall pay you in a lump sum cash payment an amount equal to (a) the amount that the Compensation Committee determines would be payable to you had you remained employed through the end of the Performance Period for such award based upon actual
results multiplied by a fraction, the numerator of which is the number of full months in the Performance Period prior to May 1, 2013 and the denominator of which is the total number of months in the Performance Period minus (b) the
amount that is payable to you for the award with respect to your employment prior to your Retirement Date. The payments described in this paragraph for each outstanding award shall be made within 60 days after the end of the Performance Period for
such award. 


 If your Retirement Date occurs and the Compensation Committee has not granted you an annual bonus award for
2013 at a target of $575,000 and a long-term incentive award for the 2013-2015 Performance Period at a target of $500,000 (hereinafter, the “2013 Executive Incentive Plan Awards”), the Company will provide you with the following additional
benefits: 
  

	 	•	 	 The Company shall pay you a lump sum cash payment for the annual bonus and long term incentive awards that you would have received had you received the
2013 Executive Incentive Plan Awards. The amount of the payment for each such award shall equal the amount that the Compensation Committee determines would be payable to you had you remained employed through the end of the Performance Period for
such award based upon actual results multiplied by a fraction, the numerator of which is the number of full months in the Performance Period prior to May 1, 2013 and the denominator of which is the total number of months in the Performance
Period. Payment for each such award shall be made within 60 days after the end of the Performance Period for such award. 









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 For purposes
of this Agreement, all of the benefits described above collectively shall be referred to as the “Severance Benefits”. All payments under this Agreement will be reduced by all applicable withholding and employment taxes. If you die before
receiving all payments due to you under this Agreement, any remaining payments will be paid to your beneficiary. 
 You acknowledge and agree
that the Company has no obligation to provide you with any compensation or benefits following the Retirement Date other than the Severance Benefits described above and any compensation or benefits described in those portions of your Employment
Agreement that survive your retirement as described in the “Integration of Employment Agreement; Survival of Certain Provisions” section below. 
 Transition Consulting Services 
 As we have discussed, your long and outstanding
service with the Company will be a valuable resource to the Company in connection with the orderly transition to our next CFO and for a period of time following your Retirement Date. In consideration of the Company’s entering into this
Retirement Agreement, you acknowledge and agree that following your Retirement Date until December 31, 2013, you will be available at mutually agreeable times to assist the Company and your successor CFO if requested by the Company or your
successor CFO. In no event will such services exceed 20 percent of your average level of services performed over the 36 months immediately preceding your Retirement Date. The Company shall pay or reimburse you for any out-of-pocket expenses
reasonably incurred by you in connection with your providing such requested assistance. 
 Release of Claims Against The Company

 You agree to deliver to the Company a signed and enforceable general release of all claims against the Company other than with respect
to employee pension, health or medical benefit plans, rights to indemnification under the director and officer liability insurance policy, or under the bylaws or certificate of incorporation of the Company (“General Release”). You agree to
execute the General Release in a form provided by the Company no earlier than your Retirement Date and no later than 30 days following your Retirement Date. 
 The General Release does not apply to any claims that cannot be released as a matter of law, such as those that: (1) arise after the date you sign the General Release, (2) are for ERISA plan
benefits, or (3) may be asserted in an administrative charge filed with a governmental law or regulatory enforcement agency (although you do release any right to monetary recovery or reinstatement right in connection with any such charge). The
General Release also does not apply to any claim for breach of this Agreement or any provisions of your Employment Agreement that survive as described in the following section. 
  







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 The General
Release will contain the following language: 
 “I knowingly and willingly release the Company from any kind of claim I have arising out of
or related to my employment and/or the termination of my employment with the Company. This general and complete release applies to all claims for relief, whether I know about them or not, that I may have against the Company as of the date of
execution of this document. This Release of claims includes, but is not limited to any claims under: federal, state or local employment, labor, civil rights, equal pay, or anti-discrimination laws, statutes, case law, regulations, and ordinances;
federal or state Constitutions; any public policy, contract, tort or common law theory; any statutory or common law principle allowing for the recovery of fees or other expenses, including attorneys’ fees. The claims that I am releasing
include, but are not limited to, claims under: the Age Discrimination in Employment Act; Family Medical Leave Act; Title VII of the Civil Rights Act of 1964, as amended; the Civil Rights Act of 1991; Sections 1981 through 1988 of Title 42 of the
United States Code, as amended; the Sarbanes-Oxley Act (18 U.S.C. Section 1514A), as amended; the Employee Retirement Income Security Act of 1974, as amended; the Americans with Disabilities Act of 1990, as amended. This Release does not apply
to any claims that cannot be released as a matter of law, such as those that (1) arise after the date I sign this Release, (2) are for ERISA plan benefits, or (3) may be asserted in an administrative charge filed with a governmental
law or regulatory enforcement agency (although I do release any right to monetary recovery or reinstatement right in connection with any such charge). This Release also does not apply to any claim for breach of my June __, 2012 Retirement Agreement
(“Retirement Agreement”) or any provisions of my May 14, 2009 Amended and Restated Employment Agreement that survive as described in the Retirement Agreement.” 
 Integration of Employment Agreement; Survival of Certain Provisions 
 Unless you have
a termination of employment for any reason prior to your Retirement Date, effective on such date this Agreement shall supersede and replace all benefits, rights and obligations under your Employment Agreement, other than Sections 5 (“Gross-Up
Payment”) 7 (“Restrictive Covenants”), 8 (“Confidentiality”), 9 (“Specific Performance; Injunction”), 10 (“Nondisparagement”), 11 (“Future Cooperation”), 15 (“Assignment; Third Party
Beneficiary”), 16 (“Severability; Survival”), 17 (“Indemnification”), and 26 (“Code Section 409A”), all of which shall remain in full force and effect. 
 Severability; Entire Agreement; Governing Law; No Oral Modifications; No Waivers 
 If
a court of competent jurisdiction determines that any of the provisions of this Agreement are invalid or legally unenforceable, all other provisions of this Agreement shall not be affected and are still enforceable. This Agreement and the General
Release together constitute a single integrated contract expressing our entire understanding regarding the subjects it addresses. As such, it supersedes all oral and written agreements and discussions that occurred before the time you sign it except
as to any obligations you may owe to the Company or the Company may owe you, as described in the “Integration of Employment Agreement; Survival of Certain Provisions” section above that remain in effect. This Agreement may be amended or
modified only by an agreement in writing signed by an executive officer of the Company. The failure by the Company to declare a breach, or to otherwise assert its rights under this Agreement, shall not be construed as a waiver of any of its rights
under this Agreement. The laws of the State of Arizona shall govern the interpretation, validity, and effect of this Agreement. 







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 Code
Section 409A 
 The 409A provisions of Section 26 of your Employment Agreement are incorporated herein by reference and apply
to the payments under this Agreement and, any reimbursement, to the extent it constitutes a deferral of compensation within the meaning of 409A, will be subject to the rules that apply to your continued health benefits. 

Acknowledgements And Certifications 
 You acknowledge and certify that: 
  

	 	•	 	 you have read and you understand all of the terms of this Agreement and are not relying on any representation or statement, written or oral, not set
forth in this Agreement; 


  

	 	•	 	 you are signing this Agreement knowingly and voluntarily; 



 

	 	•	 	 you have had the opportunity to consult with an attorney before signing this Agreement; and 



 

	 	•	 	 you and the Company agree that there is good and sufficient mutual consideration for each of the terms and conditions in this Agreement.



 IF YOU SIGN THIS DOCUMENT BELOW, IT BECOMES A LEGALLY ENFORCEABLE AGREEMENT EFFECTIVE ON THE DATE SIGNED BY THE COMPANY.

  
  

									
				
	22 June 2012                        	 		 	/s/ Tod C. Holmes	 	
	Date	 		 	Tod C. Holmes	 	
				
	6/22/2012                        	 		 	REPUBLIC SERVICES, INC.	 	
	Date	 		 		 		 	
					
		 		 	By:	 	/s/ Michael Rissman	 	
		 		 		 	Michael Rissman	 	
					
		 		 	Its:	 	EVP & General Counsel	 	








 [SPECIAL RETIREMENT FORM] 

RESTRICTED STOCK AGREEMENT 
 THIS RESTRICTED STOCK AGREEMENT, dated as of the [            ] day of
[            ] (the “Grant Date”), by and between REPUBLIC SERVICES, INC., a Delaware corporation (the “Company”) and
[            ] (the “Recipient”), is made pursuant and subject to the provisions of the Company’s Amended and Restated 2007 Stock Incentive Plan, as it
may be amended from time to time, (the “Plan”). 
 1. Definitions. All capitalized terms used herein but
not expressly defined shall have the meaning ascribed to them in the Plan, a copy of which is being provided via email and is incorporated herein by reference. All references to the Company herein also shall be deemed to include references to any
and all entities directly or indirectly controlled by the Company and which are consolidated with the Company for financial accounting purposes. 
 2. Grant of Restricted Stock. Subject to the terms and conditions of the Plan and to the terms and conditions set forth in this Agreement, the Company hereby grants to the Recipient
[            ] shares of Restricted Stock. Restricted Stock hereunder includes any shares or other securities the Recipient may receive or be entitled to receive as a result of the
ownership of the original Restricted Stock, whether they are issued as a result of a share split, share dividend, recapitalization or other subdivision or combination of shares effected without receipt of consideration by the Company or the result
of the merger or consolidation of the Company or sale of assets of the Company. 
 3. Vesting. 

(a) Vesting Schedule. Except as otherwise provided in Section 3(b) hereof, the shares of Restricted Stock shall vest and
become nonforfeitable on the dates (each a “Vesting Date”) and in the percentages set forth in accordance with the following schedule, provided that the Recipient’s continuous service with the Company continues until the
applicable Vesting Date: 
  

					
	 Vesting Date
	  	Vesting Percentage	 
	 	  	(Percentage of Total
Award Vested as of
Applicable Date)	 
	 [            ]
	  	 	25	% 
	 [            ]
	  	 	50	% 
	 [            ]
	  	 	75	% 
	 [            ]
	  	 	100	% 

 Except as otherwise specifically provided herein, there shall be no proportionate or partial vesting in
the periods prior to each Vesting Date, and all vesting shall occur only on the applicable Vesting Date. 







 (b) Acceleration of Vesting on Account of Death, Disability, Retirement, Termination of
Employment, or for Other Reasons. 
 (i) Death or Disability. The shares of Restricted Stock not yet
vested and that have not previously been forfeited shall become 100% vested and transferable in the event that the Recipient’s continuous service with the Company terminates by reason of the Recipient’s death or Disability on or after
February 8, 2013. 
 (ii) Retirement. The shares of Restricted Stock not yet vested and that have not
previously been forfeited shall become 100% vested and transferable in the event that (1) the Recipient’s continuous service with the Company terminates by reason of the Recipient’s retirement, and (2) at the time of such
retirement: 
 (A) the Recipient is at least fifty-five (55) years old and has completed six (6) years
of continuous service with the Company or is at least sixty (60) years old (without regard to years of service), and in either case has provided the Company not less than twelve (12) months prior written notice of Recipient’s intent
to retire; or 
 (B) the Recipient is at least sixty (60) years old and has completed fifteen
(15) years of continuous service with the Company or is sixty-five (65) years old and has completed five (5) years of continuous service with the Company and in either case has provided the Company with not less than thirty
(30) days prior written notice of Recipient’s intent to retire; or 
 (C) the Recipient has been
requested by the Board of Directors of the Company to retire; and 
 (D) in the case of (A), (B) and (C),
the Company does not provide the Recipient with written notice on or before the anticipated retirement date that the Company intends or has grounds to terminate the Recipient’s continuous service for Cause. 

For purposes of determining years of continuous service, service shall include service in any capacity as an employee or
a director with any entity whose financial statements are required to be consolidated with the financial statements of Republic, including service with any such entity prior to the date on which the entity’s financial statements were required
to be so consolidated. 
 (iii) Employment Agreement. Effective on or after February 8, 2013, the
shares of Restricted Stock not yet vested and that have not previously been forfeited shall become partially or fully vested and transferable at such times and in such amounts as may be required pursuant to any employment or consulting agreement
between the Recipient and the Company or under the Company’s Executive Separation Policy, as amended from time to time and as applicable. 
 (iv) Special Rule. Notwithstanding any provisions to the contrary, if the Recipient has a termination of employment for any reason prior to the Retirement Date (as defined in that certain
Retirement Agreement between Recipient and the Company) and prior to February 8, 2013, Recipient will forfeit all of the shares of Restricted Stock granted hereunder. 

  
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 (c) Restrictions. The shares of Restricted Stock and any stock distributions with
respect to such Restricted Stock shall be subject to the following restrictions during the period prior to the date on which they become vested pursuant to this Section or the Plan (the “Restricted Period”): 

(i) The Restricted Stock shall be subject to forfeiture as provided herein; 

(ii) Except as otherwise provided in Section 3(c)(iii), no shares of Restricted Stock awarded hereunder shall be
transferable or assignable by the Recipient, other than by will or the laws of descent and distribution or pursuant to a domestic relations order within the meaning of Section 414(p)(1)(B) of the Code; 

(iii) The Recipient may transfer the shares of Restricted Stock awarded hereunder (or a portion thereof) for no value to
(1) a child, stepchild, grandchild, parent, stepparent, grandparent, spouse, former spouse, sibling, niece, nephew, mother-in-law, father-in-law, son-in-law, daughter-in-law, brother-in-law or sister-in-law, including adoptive relationships,
(2) any person sharing the Recipient’s household (other than a tenant or employee), (3) a trust in which the persons described in (1) and/or (2) have more than 50% of the beneficial interest, (4) a foundation in which
the Recipient and/or the persons described in (1) and/or (2) control the management of assets, or (5) any other entity in which the Recipient and/or the persons described in (1) and/or (2) own more than 50% of the voting
interests; 
 (iv) No transfer permitted under Section 3(c)(ii) or 3(c)(iii) of any shares of Restricted
Stock shall be effective to bind the Company unless the Committee shall have been furnished with (1) the Notice of Restricted Stock Transfer attached hereto as Exhibit A executed and dated by the Recipient (or the executor or personal
representative of the deceased Recipient’s estate) and with a copy of the will, assignment or transfer document and/or such evidence as the Committee may deem necessary to establish the validity of the transfer, and (2) the Statement of
Acknowledgement attached hereto as Exhibit B executed and dated by the transferee which states that the transferee will comply with all the terms and conditions of the Plan and the Agreement relating to the shares of Restricted Stock that are
or would have been applicable to the Recipient; 
 (v) Promptly following the Grant Date, the Company shall issue
a certificate or other indicia of ownership representing the shares of Restricted Stock awarded hereunder. Any certificate or other indicia of ownership representing the shares of Restricted Stock awarded hereunder shall be held in escrow by the
Company and shall, in the Company’s sole discretion, bear an appropriate restrictive legend and be subject to appropriate “stop transfer” orders. To facilitate the escrow of the shares of Restricted Stock awarded hereunder with the
Company, the Recipient shall deliver herewith the Stock Power attached hereto as Exhibit C executed in blank by the Recipient and dated as of the date hereof; and 

  
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 (vi) Any additional stock or other securities or property that may be issued
or distributed with respect to the Restricted Stock awarded hereunder as a result of any stock dividend, stock split, business combination or other event shall be subject to the restrictions and other terms and conditions set forth in this
Agreement. 
 (d) Forfeiture of Restricted Stock. If the Recipient’s continuous service with the Company is
terminated for any reason, any shares of Restricted Stock that have not previously vested and that do not vest as a result of such termination, shall be forfeited immediately upon termination of the Recipient’s continuous service with the
Company. 
 (e) Receipt of Common Stock. At or after the end of the applicable Restricted Period, the Recipient shall
receive certificates or other indicia of ownership for Common Stock equal to the number of shares of Restricted Stock that became vested at the end of that Restricted Period, free and clear of the restrictions set forth in this Agreement, except for
any restrictions necessary to comply with federal and state securities laws. Any certificates or other indicia of ownership representing such shares shall be released to the Recipient as promptly as practical following the Recipient’s becoming
entitled to receive such shares. 
 (f) Shareholder Rights. The Recipient shall, subject to the restrictions set forth
herein, have all rights of a shareholder with respect to any shares of Restricted Stock, including the right to vote such shares and the right to receive cash dividends and, except as otherwise provided in Section 3(c) hereof, other
distributions thereon. Notwithstanding the foregoing, Recipient shall not have the right to receive any dividends or other distributions with respect to the Restricted Stock if the dividend record date (or other applicable date) is before
February 8, 2013. 
 (g) Section 83(b) Election and Tax Withholding. 

(i) The Recipient may elect, within thirty (30) days of the Grant Date, to include in gross income for federal income
tax purposes an amount equal to the fair market value as of the Grant Date of the Restricted Stock pursuant to Section 83(b) of the Code. 
 (ii) The Recipient shall pay to the Company, or make arrangements satisfactory to the Committee for payment of, any federal, state or local taxes of any kind required by law to be withheld with respect to
the Restricted Stock (including without limitation the vesting thereof) and any dividends or other distributions made by the Company to the Recipient with respect to the Restricted Stock as and when the Company determines those amounts to be due,
and the Company shall, to the extent permitted by law, have the right to deduct from any payment of any kind otherwise due to Recipient any federal, state, or local taxes of any kind required by law to be withheld with respect to the Restricted
Stock or any dividends or other distributions made by the Company to the Recipient with respect to any Restricted Stock. 

  
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 (iii) The Recipient may elect, by notice to the Committee, to satisfy his or
her minimum withholding tax obligation with respect to the granting or vesting of the Restricted Stock by the Company’s withholding a portion of the shares of Common Stock otherwise deliverable to the Recipient, such shares being valued at
their fair market value as of the date on which the taxable event that gives rise to the withholding requirement occurs, or by the Recipient’s delivery to the Company of a portion of the shares previously delivered by the Company, such shares
being valued at their fair market value as of the date of delivery of such shares by the Recipient to the Company. 
 4.
Forfeiture by Reason of Detrimental Activity. The shares of Restricted Stock shall be subject to Section 17(n) of the Plan. Notwithstanding any other provision of this Agreement to the contrary, if the Recipient engages in any
Detrimental Activity at any time prior to or during the one year period after the latest date on which any portion of the shares of Restricted Stock become vested but prior to a Change in Control, the Company shall, upon the recommendation of the
Committee in its sole and absolute discretion, be entitled to (a) immediately terminate and cancel any portion of the shares of Restricted Stock that have not previously vested, and (b) require that within two (2) years after the
latest date on which any portion of the Restricted Stock vests but prior to a Change in Control, the Recipient (i) return to the Company any shares of Common Stock acquired pursuant to this Agreement, or if such shares of Common Stock are not
still owned by the Recipient, that the Recipient pay to the Company an amount equal to the fair market value of such shares of Common Stock on the date they were issued, or if later, the date on which they became vested, and (ii) return to the
Company any cash or other property (other than Common Stock) received by the Recipient from the Company pursuant to this Agreement. Awards shall also be subject to cancellation and/or clawback by the Committee if and to the extent required under
applicable law. 
 5. Right to Set Off. By accepting this Agreement, the Recipient consents to a deduction from any
amounts the Company owes the Recipient from time to time (including amounts owed to the Recipient as wages or other compensation, for any benefits, or vacation pay, as well as any other amounts owed to the Recipient by the Company), up to the dollar
amount the Recipient owes the Company under Section 4 hereof. Whether or not the Company elects to make any set off in whole or in part, if the Company does not recover by means of set off the full amount the Recipient owes the Company
calculated as set forth in Section 4 hereof, the Recipient agrees to pay immediately the unpaid balance to the Company. 

6. Board of Director Discretion. The Recipient may be released from his or her obligations under Sections 4 and 5 hereof only if
the Board of Directors of the Company, or a duly authorized committee thereof, determines, in its sole and absolute discretion, that such action is not adverse to the interests of the Company. 

7. No Right to Continued Employment or Service. This Agreement does not confer upon the Recipient any right with respect to
continuance of employment or service by the Company, nor shall it interfere in any way with the right of the Company to terminate the Recipient’s employment or service at any time. 

  
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 8. Change of Control or Capital Structure. 

(a) Subject to any required action by the shareholders of the Company, the number of shares of Restricted Stock covered by this award
shall be proportionately adjusted and the terms of the restrictions on such shares shall be adjusted as the Committee shall determine to be equitably required for any increase or decrease in the number of issued and outstanding shares of Common
Stock of the Company resulting from any stock dividend (but only on the Common Stock), stock split, subdivision, combination, reclassification, recapitalization or general issuance to the holders of Common Stock of rights to purchase Common Stock at
substantially below Fair Market Value or any change in the number of such shares outstanding effected without receipt of cash or property or labor or services by the Company or for any spin-off, spin-out, split-up, split-off or other distribution of
assets to shareholders. 
 (b) The Restricted Stock shall not become immediately vested in the event that a Change in Control
occurs, except to the extent required in any employment agreement or consulting agreement between the Company and the Recipient or under the Company’s Executive Separation Policy, as amended from time to time and as applicable. In the event of
a change in the Common Stock as presently constituted, which is limited to a change in all of its authorized shares without par value into the same number of shares with par value, the shares resulting from any such change shall be deemed to be the
Common Stock within the meaning of the Plan. 
 (c) The award of Restricted Stock pursuant to the Plan shall not affect in any
way the right or power of the Company to make adjustments, reclassifications, reorganizations or changes of its capital or business structure or to merge or to consolidate or to dissolve, liquidate or sell, or transfer all or any part of its
business or assets. 
 9. Governing Law. This Agreement shall be governed by and construed in accordance with the laws of
the State of Delaware, without regard to its principles of conflict of laws. The parties agree that any action, suit or proceeding arising out of or relative to this Agreement or the relationship of the Recipient and the Company, shall be instituted
only in the state or federal courts located in Maricopa County in the State of Arizona, and each party waives any objection which such party may now or hereafter have to such venue or jurisdictional court in any action, suit, or proceeding. Any and
all services of process and any other notice in any such action, suit or proceeding shall be effective against any party if given by mail (registered or certified where possible, return receipt requested), postage prepaid, mailed to such party at
the address set forth herein. 
 10. Severability. The invalidity or enforceability of any one or more provisions of this
Agreement shall not affect the validity or enforceability of any other provision of this Agreement, which shall remain in full force and effect. In the event that a court of competent jurisdiction should determine that any time period provided for
in Section 4 is unenforceable, then such period shall be reduced to the longest period of time which such court shall deem enforceable, taking into consideration the purpose and intent of the Plan to serve the interests of the Company and its
shareholders. 

  
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 11. Notices. All notices or other communications with respect to the Restricted Stock
shall be deemed given and delivered in person or by facsimile transmission, telefaxed, or mailed by registered or certified mail (return receipt requested, postage prepaid) to the Company’s Stock Option Administrator at the following address
(or such other address, as shall be specified by like notice of a change of address) and shall be effective upon receipt: 

Stock Option Administrator 
 Republic Services, Inc. 
 18500 North Allied Way 

Phoenix, Arizona 85054 
 12. Waiver. The failure of any party at any time to require strict performance of any condition, promise, agreement or understanding set forth herein shall not be construed as a waiver or
relinquishment of the right to require strict performance of the same condition, promise, agreement or understanding at a subsequent time. 
 13. Interpretation/Provisions of Plan Control. In the event of any conflict between the provisions of the Plan and the provisions of this Agreement, the provisions of the Plan shall govern. The
Recipient hereby accepts as final, conclusive and binding, any decisions by the Committee with respect to the interpretation or administration of the Plan and this Agreement. 
 14. Recipient Bound by Plan. The Recipient hereby acknowledges receipt of a copy of the Plan and agrees to be bound by all the terms, conditions and provisions thereof. 

15. Binding Effect. Subject to the limitations stated herein and in the Plan, this Agreement shall be binding upon and inure to
the benefit of the successors and assigns of the Company and the Recipient’s heirs, legatees, distributees and personal representatives. 
 16. Counterparts. This Agreement may be signed in any number of counterparts, each of which shall be an original, with the same effect as if the signatures thereto and hereto were upon the same
instrument. The facsimile or email transmission of a signed signature page, by any party to the other(s), shall constitute valid execution and acceptance of this Agreement by the signing/transmitting party. 

IN WITNESS WHEREOF, the Company has caused this Agreement to be signed by a duly authorized officer, and the Recipient has affixed
his or her signature hereto. 
  

	
	REPUBLIC SERVICES, INC.
	
	  
	By: Donald W. Slager
	Chief Executive Officer and President



  
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	RECIPIENT	 	
		
	  	 	  
	 Signature
	 	
		
	  	 	  
	 Print or Type Name
	 	
		
	  	 	  
	 Street Address
	 	
		
	  	 	  
	 City, State, Zip
	 	
		
	  	 	  
	 Telephone Number
	 	
		
	  	 	  
	 Social Security Number
	 	
		
	Date:	 	[             ]



  
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 EXHIBIT A 

NOTICE OF RESTRICTED STOCK TRANSFER 
 Republic Services, Inc., a Delaware corporation (the “Company”) and the undersigned person (the “Recipient”) entered into a Restricted Stock Agreement (the “Agreement”),
effective                                      and made
pursuant and subject to the provisions of the Company’s Amended and Restated 2007 Stock Incentive Plan, as it may be amended from time to time (the “Plan”). 
 Pursuant to Section 17(g) of the Plan and Section 3(c) of the Agreement, the Recipient (or the Recipient’s estate) transferred for no value shares of Restricted Stock granted under the
Agreement, as stated below, to the person or entity described below (the “Transferee”). 
 Number of shares of
Restricted Stock transferred:                      
 Date of transfer:
                                         
                                        

The Transferee is a permitted transferee under Section 17(g) of the Plan and Section 3(c) of the Agreement for the following
reason: 
  ̈ Transfer by will or the laws of descent and distribution.

  ̈ Transfer pursuant to a domestic relations order. 

 ̈ Transfer to one of the following family members listed in Section 3(c)(iii) of the
Agreement: a child, stepchild, grandchild, parent, stepparent, grandparent, spouse, former spouse, sibling, niece, nephew, mother-in-law, father-in-law, son-in-law, daughter-in-law, brother-in-law or sister-in-law, including adoptive relationships.

  ̈ Transfer to a member of the Recipient’s household (other than a tenant
or an employee). 
  ̈ Transfer to a trust in which the Recipient, a member of the
Recipient’s family, or a member of the Recipient’s household has more than a 50% beneficial interest. 
  ̈ Transfer to a foundation in which the Recipient, a member of the Recipient’s family, or a member of the Recipient’s household controls the management of the foundation’s assets. 

  
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  ̈ Transfer to an entity in which the
Recipient, a member of the Recipient’s family, or a member of the Recipient’s household owns more than 50% of the voting interest. 
 If the Transferee is a natural person, the nature of the relationship between the Recipient and the Transferee is as follows: 

 
  

If the Transferee is something other than a natural person, details regarding the Recipient’s (or a family member’s or a
household member’s) beneficial interest, control or voting interest in the Transferee is as follows: 
  

 
 The Recipient
acknowledges that at the time the Award vests, unless the Recipient had previously filed a Section 83(b) election with the Internal Revenue Service, the Recipient will be taxed at ordinary income rates on the excess, if any, of the fair market
value of the shares of Restricted Stock on the date those shares vest over any amount paid by the Recipient for the transferred Restricted Stock. In addition, if the Recipient is an employee of the Company or any of its Affiliates, the Recipient
will be subject to withholding tax on the taxable amount and agrees to make arrangements with the Company to pay such amounts as they come due. 
 This Notice is being furnished to the Company along with a copy of the will, assignment or transfer document and/or such evidence as the Committee may deem necessary to establish the validity of the
transfer. An agreement signed by the Transferee acknowledging that all rights and obligations with respect to the transferred shares of Restricted Stock shall be governed by the terms and conditions set forth in the Agreement and Plan is also being
furnished to the Company. 
 The aforementioned documents are being delivered to the Company in satisfaction of the
Recipient’s obligations under Section 3(c)(iv) of the Agreement, to Stock Option Administrator at the following address: 
 Stock Option Administrator 
 Republic Services, Inc. 

18500 North Allied Way 
 Phoenix, Arizona 85054 

  
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	RECIPIENT
	
	  
	 Signature

	
	  
	 Print or Type Name

	
	  
	 Street Address

	
	  
	 City, State, Zip

	
	  
	 Telephone Number

	
	  
	 Social Security Number

	
	  
	 Date




  
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 EXHIBIT B 

STATEMENT OF ACKNOWLEDGEMENT 
 On [             ], [             ] (the “Transferor”) entered into a
Restricted Stock Agreement (the “Agreement”) with Republic Services, Inc. (the “Company”), pursuant and subject to the provisions of the Company’s Amended and Restated 2007 Stock Incentive Plan, as it may be amended from
time to time (the “Plan”). Pursuant to Section 17(g) of the Plan and Section 3(c) of the Agreement, on [            ] the Transferor (or the Transferor’s estate)
transferred for no value [             ] shares of Restricted Stock granted under the Agreement to [             ] (the
“Transferee”). 
 The Transferee hereby acknowledges and agrees that the Transferee is a permitted transferee under to
Section 17(g) of the Plan and Section 3(c) of the Agreement. The Transferee further acknowledges and agrees that the Transferee’s rights and obligations with respect to the transferred shares of Restricted Stock shall be governed by
the terms and conditions set forth in the Agreement and the Plan, as they are or would have been applicable to the Transferor, and that the Transferee will comply with such terms and conditions, including, without limitation, those provisions
relating to the dates on which the shares of Restricted Stock may vest, and those relating to the forfeiture and repayment of benefits in the event that the Transferor engages in any Detrimental Activity, as defined in the Plan. 

 

			
	TRANSFEREE	 	
		
	  	 	  
	 Signature
	 	
		
	  	 	  
	 Print or Type Name
	 	
		
	  	 	  
	 Street Address
	 	
		
	  	 	  
	 City, State, Zip
	 	
		
	  	 	  
	 Telephone Number
	 	
		
	  	 	  
	 Tax Identifying Number
	 	
		
	Date:	 	[             ]



  
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 EXHIBIT C 

STOCK POWER 
 FOR VALUE RECEIVED, pursuant to a certain Restricted Stock Agreement between Republic Services, Inc. and the undersigned dated [             ],
I hereby sell, assign and transfer unto Republic Services, Inc. all shares of the restricted Common Stock of Republic Services, Inc. awarded to me on this date and in the future under said Agreement and do hereby irrevocably constitute and appoint
the Secretary of Republic Services, Inc. as my attorney-in-fact to transfer the said shares of stock on the books of Republic Services, Inc. with full power of substitution in the premises. 
 Dated: