Exhibit 10.1

  

  FORM OF RESTRICTED STOCK UNIT AGREEMENT FOR NON-EMPLOYEE DIRECTORS

  This Restricted Stock Unit Agreement (this “Agreement”) is made and entered into as of [DATE] (the “Grant Date”) by and between Target Hospitality Corp., a
    Delaware corporation (the “Company”), and [DIRECTOR NAME] (the “Participant”). This Agreement is being entered into pursuant to the Target Hospitality Corp. 2019 Incentive Award Plan (the “Plan”).
    Capitalized terms used in this Agreement but not defined herein will have the meaning ascribed to them in the Plan.

  1. Grant of Restricted Stock Units. Pursuant to Section 9 of the Plan, the Company hereby issues to the Participant on the Grant Date an Award consisting of [NUMBER] Restricted
      Stock Units (the “Restricted Stock Units”). Each Restricted Stock Unit represents the right to receive one Common Share, subject to the terms and
      conditions set forth in this Agreement and the Plan. The Restricted Stock Units shall be credited to a separate account maintained for the Participant on the books and records of the Company (the “Account”). All amounts credited to the Account shall continue for all purposes to be part of the general assets of the Company.

  2. Consideration.
      The grant of the Restricted Stock Units is made in consideration of the services to be rendered by the Participant to the Company.

  3. Vesting. Except as otherwise provided herein or in the Plan, provided that the
      Participant remains in continuous service through the applicable vesting date, the Restricted Stock Units will vest in accordance with the schedule set forth in the chart below (the period during which restrictions apply, the “Restricted Period”). Once vested, the Restricted Stock Units shall become “Vested Units.”

  	
          Vesting Date

        	 	
          Percentage of Vested Units

        	 	
          Number of Vested Units

        
	
          The first anniversary of the Grant Date or, if earlier, the date of the first Annual Meeting of the Stockholders of the Company following the Grant
            Date

        	 	
           

          100%

        	 	 


  

  

  4. Termination of Service/Change in Control.

  4.1 The vesting schedule above notwithstanding, if the Participant’s service terminates for any reason at any time before all of the Restricted Stock Units have vested, the
      Participant’s unvested Restricted Stock Units shall be automatically forfeited upon such termination of service and neither the Company nor any Affiliate shall have any further obligations to the Participant under this Agreement.

  
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  4.2 Notwithstanding any provision of this Agreement or the Plan to the contrary, upon the occurrence of a Change in Control, any Restricted Period in effect on the date of the Change
      in Control shall expire as of such date and any unvested Restricted Stock Units shall vest.

  5. Restrictions. Subject to any exceptions set forth in this Agreement or the Plan, during
      the Restricted Period and until such time as the Restricted Stock Units are settled, the Restricted Stock Units or the rights relating thereto may not be assigned, alienated, pledged, attached, sold or otherwise transferred or encumbered by the
      Participant. Any attempt to assign, alienate, pledge, attach, sell or otherwise transfer or encumber the Restricted Stock Units or the rights relating thereto shall be wholly ineffective and, if any such attempt is made, the Restricted Stock Units
      will be forfeited by the Participant and all of the Participant’s rights to such units shall immediately terminate without any payment or consideration by the Company. Notwithstanding the foregoing, the Restricted Stock Units may be transferred
      during the Restricted Period to a Permitted Transferee with the prior written consent of the Committee, in accordance with Section 16(b)(ii) of the Plan. Any Permitted Transferee shall be bound by and subject to all of the terms and conditions of
      this Agreement and the Plan relating to the transferred Restricted Stock Units except as otherwise provided in Section 16(b)(iii) of the Plan.  The Company shall cooperate with any Permitted Transferee and the Company’s transfer agent in effectuating
      any transfer permitted under this Agreement.

  6. Rights as Shareholder; Dividend Equivalents.

  6.1 The Participant shall not have any rights of a shareholder with respect to the Common Shares underlying the Restricted Stock Units unless and until the Restricted Stock Units vest
      and are settled by the issuance of such Common Shares. Upon and following the settlement of the Restricted Stock Units, the Participant shall be the record owner of the Common Shares underlying the Restricted Stock Units unless and until such shares
      are sold or otherwise disposed of, and as record owner shall be entitled to all rights of a shareholder of the Company (including voting rights).

  6.2 In the event that the Company pays any cash dividends on its Common Shares between the Grant Date and the date when the Restricted Stock Units are settled in accordance with
      Section 7 hereof or are forfeited, the Participant’s Account shall be credited on the date such dividend is paid to shareholders with an amount equal to all cash dividends that would have been paid to the Participant if one Common Share had been
      issued on the Grant Date for each Restricted Stock Unit granted to the Participant (“Dividend Equivalents”). Dividend Equivalents shall be credited
      to the Participant’s Account and interest may be credited on the amount of cash Dividend Equivalents credited to the Participant’s Account at a rate and subject to such terms as determined by the Committee. Dividend Equivalents credited to the
      Participant’s Account shall be subject to the same vesting and other restrictions as the Restricted Stock Units to which they are attributable and shall be paid on the same date that the Restricted Stock Units to which they are attributable are
      settled in accordance with Section 7 hereof. Dividend Equivalents credited to the Participant’s Account shall be distributed in cash or, at the discretion of the Committee, in Common Shares having a Fair Market Value equal to the amount of the
      Dividend Equivalents and interest, if any. Any accumulated and unpaid Dividend Equivalents attributable to Restricted Stock Units that are cancelled will not be paid and will be immediately forfeited upon cancellation of the Restricted Stock Units.

  
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  7. Payment/Settlement
          of Restricted Stock Units.

  7.1 Except to the extent the Participant is permitted and makes an election to defer the payment or
        settlement of the Restricted Stock Units in accordance with Section 7.2 below, promptly upon the expiration of the Restricted Period, and in any event no later than March 15th of the calendar year following the calendar year in which the Restricted
        Period ends, the Company shall (i) issue and deliver to the Participant, or his or her beneficiary, without charge, the number of Common Shares equal to the number of Vested Units, and (ii) enter the Participant’s name on the books of the
      Company as the shareholder of record with respect to the Common Shares delivered to the Participant; provided, however, that the Committee may, in its sole discretion elect to (x) pay cash or part cash and part Common Share in lieu of delivering only
      Common Shares in respect of the Restricted Stock Units, or (y) defer the delivery of Common Shares (or cash or part Common Shares and part cash, as the case may be) beyond the expiration of the Restricted Period if such delivery would result in a
      violation of applicable law until such time as is no longer the case. If a cash payment is made in lieu of delivering Common Shares, the amount of such payment shall be equal to the Fair Market Value of the Common Shares as of the date on which the
      Restricted Period lapsed with respect to the Restricted Stock Units, less an amount equal to any required tax withholdings.

  7.2 Notwithstanding the foregoing, the Committee may permit the Participant to make an irrevocable election to defer the delivery of Common Shares (or cash or part Common Shares and
      part cash, as the case may be) in respect of all or a portion of the Restricted Stock Units to a date or dates beyond the expiration of the Restricted Period, provided that the terms of any such deferral agreement satisfy the requirements of Section
      409A of the Code (or any successor) and any regulations or rulings promulgated thereunder (collectively, “Section 409A of the Code”) and any rules and/or procedures adopted by the Committee for the making of such elections.  In the event such an election is made and the Participant is a “specified
      employee” as determined pursuant to Section 409A of the Code, at the time that the Participant receives a payment in connection with the Participant’s “separation from
        service” as determined pursuant to Section 409A of the Code (other than for death), the payment shall instead be made on the earlier of the first U.S. business day after the date that is (i) six months following the Participant’s separation from
        service as determined pursuant to Section 409A of the Code, or (ii) the date of the Participant’s death to the extent such delayed payment is otherwise required to avoid a prohibited distribution under Section 409A of the Code.

  8. No Rights
          to Continued Service. Neither the Plan nor this Agreement shall confer upon the Participant any right to be retained in any position, as a director of the Company or any Affiliate or in any other capacity. Further, nothing in the Plan
      or this Agreement shall be construed to limit the discretion of the Company or an Affiliate to terminate the Participant’s service with the Company or an Affiliate at any time.

  9. Adjustments.
      In the event of any change to the outstanding Common Shares or the capital structure of the Company (including, without limitation, a Change in Control), if required, the Restricted Stock Units shall be adjusted or terminated in any manner as
      contemplated by Section 12 of the Plan.

  
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  10. Beneficiary Designation. The Participant may file with the Committee a written
      designation of one or more persons as the beneficiary(ies) who shall be entitled to his or her rights under this Agreement and the Plan, if any, in case of his or her death, in accordance with Section 16(f) of the Plan.

  11. Tax
          Liability and Withholding.

  11.1 The Participant shall be required to pay, and the Company shall have the right and is authorized to withhold, from any cash, Common Shares, other securities or other property
      deliverable under this Agreement or from any fees or other amounts owing to the Participant, the amount of any required withholding taxes in respect of the Restricted Stock Units and to take all such other action as the Committee deems necessary to
      satisfy all obligations for the payment of such withholding taxes in accordance with Section 16(c) of the Plan. The Committee may permit the Participant to satisfy any federal, state or local tax withholding obligation by any of the following means,
      or by a combination of such means of the Plan, (a) tendering a cash payment, (b) authorizing the Company to withhold Common Shares from the Common Shares otherwise issuable or deliverable to the Participant as a result of the vesting of the
      Restricted Stock Units (provided, however, that no Common Shares shall be withheld with a value exceeding the maximum amount of tax required to be withheld by law), or (c) delivering to the Company previously owned and unencumbered Common Shares.
      Notwithstanding the foregoing, in the event the Participant fails to provide timely payment of all sums required to satisfy any applicable federal, state and local withholding obligations in respect of the Restricted Stock Units, the Company shall
      treat such failure as an election by the Participant to satisfy all or any portion of the Participant’s required payment obligation pursuant to Section 11.1(b) above.

  11.2 Notwithstanding any action the Company takes with respect to any or all income tax, social insurance, payroll tax, or other tax-related withholding (“Tax-Related Items”), the ultimate liability for all Tax-Related Items is and remains the Participant’s responsibility and the Company (a) makes no representation or
      undertakings regarding the treatment of any Tax-Related Items in connection with the grant, vesting or settlement of the Restricted Stock Units or the subsequent sale of any shares; and (b) does not commit to structure the Restricted Stock Units to
      reduce or eliminate the Participant’s liability for Tax-Related Items.

  12. Compliance
          with Law. The issuance and transfer of Common Shares shall be subject to compliance by the Company and the Participant with all applicable requirements of federal and state securities laws and with all applicable requirements of any
      stock exchange on which the Common Shares may be listed. No Common Shares shall be issued pursuant to Restricted Stock Units unless and until any then applicable requirements of state or federal laws and regulatory agencies have been fully complied
      with to the satisfaction of the Company and its counsel. The Participant understands that the Company is under no obligation to register the Common Shares with the Securities and Exchange Commission, any state securities commission or any stock
      exchange to effect such compliance.

  
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  13. Notices.
      Any notice required to be delivered to the Company under this Agreement shall be in writing and addressed to the General Counsel & Secretary of the Company at the Company’s principal corporate offices. Any notice required to be delivered to the
      Participant under this Agreement shall be in writing and addressed to the Participant at the Participant’s address as shown in the records of the Company. Either party may designate another address in writing (or by such other method approved by the
      Company) from time to time.

  14. Governing
          Law. This Agreement will be construed and interpreted in accordance with the laws of the State of Texas without regard to conflict of law principles.

  15. Interpretation.
      Any dispute regarding the interpretation of this Agreement shall be submitted by the Participant or the Company to the Committee (excluding the Participant if the Participant serves on the Committee) for review. The resolution of such dispute by the
      Committee shall be final and binding on the Participant and the Company.

  16. Participant
          Bound by Plan. This Agreement is subject to all terms and conditions of the Plan as approved by the Company’s shareholders. The terms and provisions of the Plan as it may be amended from time to time are hereby incorporated herein by
      reference. In the event of a conflict between any term or provision contained herein and a term or provision of the Plan, the applicable terms and provisions of the Plan will govern and prevail.

  17. Successors
          and Assigns. The Company may assign any of its rights under this Agreement. This Agreement will be binding upon and inure to the benefit of the successors and assigns of the Company. Subject to the restrictions on transfer set forth
      herein, this Agreement will be binding upon the Participant and the Participant’s beneficiaries, executors, administrators and the person(s) to whom the Restricted Stock Units may be transferred by will or the laws of descent or distribution.

  18. Severability.
      The invalidity or unenforceability of any provision of the Plan or this Agreement shall not affect the validity or enforceability of any other provision of the Plan or this Agreement, and each provision of the Plan and this Agreement shall be
      severable and enforceable to the extent permitted by law. If any provision of the Plan or any Award or Award agreement is or becomes or is deemed to be invalid, illegal, or unenforceable in any jurisdiction or as to any person or entity or Award, or
      would disqualify the Plan or any Award under any law deemed applicable by the Committee, such provision shall be construed or deemed amended to conform to the applicable laws, or if it cannot be construed or deemed amended without, in the
      determination of the Committee, materially altering the intent of the Plan or the Award, such provision shall be construed or deemed stricken as to such jurisdiction, person or entity or Award and the remainder of the Plan and any such Award shall
      remain in full force and effect.

  19. Discretionary
          Nature of Plan. The Plan is discretionary and may be amended, cancelled or terminated by the Company at any time, in its discretion. The grant of the Restricted Stock Units in this Agreement does not create any contractual right or
      other right to receive any Restricted Stock Units or other Awards in the future. Future Awards, if any, will be at the sole discretion of the Company. Any amendment, modification, or termination of the Plan shall not constitute a change or impairment
      of the terms and conditions of the Participant’s service with the Company.

  
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  20. Amendment.
      The Committee has the right to amend, alter, suspend, discontinue or cancel Restricted Stock Units, prospectively or retroactively; provided that no such amendment shall adversely affect the Participant’s material rights under this Agreement without
      the Participant’s consent.

  21. Section
          409A. This Agreement is intended to comply with Section 409A of the Code or an exemption thereunder and shall be construed and interpreted in a manner consistent with the requirements for avoiding additional taxes or penalties under
      Section 409A of the Code. Notwithstanding the foregoing, the Company makes no representations that the payments and benefits provided under this Agreement comply with Section 409A of the Code and in no event shall the Company be liable for all or any
      portion of any taxes, penalties, interest or other expenses that may be incurred by the Participant on account of non-compliance with Section 409A of the Code.

  22. Counterparts.
      This Agreement may be executed in counterparts, each of which shall be deemed an original but all of which together will constitute one and the same instrument. Counterpart signature pages to this Agreement transmitted by facsimile transmission, by
      electronic mail in portable document format (.pdf), or by any other electronic means intended to preserve the original graphic and pictorial appearance of a document, will have the same effect as physical delivery of the paper document bearing an
      original signature.

  23. Acceptance.
      The Participant hereby acknowledges receipt of a copy of the Plan and this Agreement. The Participant has read and understands the terms and provisions thereof, and accepts Restricted Stock Units subject to all of the terms and conditions of the Plan
      and this Agreement. The Participant acknowledges that there may be adverse tax consequences upon the vesting or settlement of the Restricted Stock Units or disposition of the underlying shares and that the Participant should consult a tax advisor
      prior to such vesting, settlement or disposition.

  [SIGNATURE PAGE FOLLOWS]

  
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  IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first above written.

  	 	
          TARGET HOSPITALITY CORP.

        
	 	
          By: _____________________

          Name:

          Title:

           

          

        
	 	
          [PARTICIPANT NAME]

        
	 	
          By: _____________________

           

        


  

  

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