Document:

Exhibit 10.5

 

EMPLOYMENT
AGREEMENT

 

This EMPLOYMENT AGREEMENT
(this “Agreement”) is entered into as of June 22, 2018 (the “Effective Date”),
between NRC Group Holdings, LLC, a Delaware limited liability company (the “Company”), and Joseph Peterson (“Executive”)
and supersedes and replaces in its entirety that certain employment agreement executed by Executive and JFL-NRC Holdings, LLC on
October 10, 2017 (the “Prior Employment Agreement”).

 

In consideration of
the mutual covenants contained herein and other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties hereto agree as follows:

 

1. Certain Definitions.
Certain words or phrases used herein with initial capital letters shall have the meanings set forth in Section 8.

 

2. Employment.
The Company shall employ Executive, and Executive accepts such employment with the Company, upon the terms and conditions set forth
in this Agreement for the period beginning on the Effective Date and ending as provided in Section 5 hereof (the “Employment
Period”). Notwithstanding anything in this Agreement to the contrary, Executive will be an at-will employee of the Company
and Executive or the Company may terminate Executive’s employment with the Company for any reason or no reason at any time.

 

3. Position and
Duties.

 

(a) During the Employment
Period, Executive shall serve as the Chief Financial Officer of the Company and shall have the normal duties, responsibilities
and authority of an executive serving in such position, subject to the power of the Board of Managers of JFL-NRC-SES Partners,
LLC (the “Board”) to expand or limit such duties, responsibilities and authority, either generally or in specific
instances. Executive’s duties shall also include providing services to the Company’s direct and indirect subsidiaries
in addition to the Company. Effective as of the date of any termination of employment, Executive hereby agrees to tender his resignation
from, will be deemed to have automatically resigned from, all offices and directorships held at the Company and any of its subsidiaries
or affiliates at the date of such termination, including the position of Chief Financial Officer and any position Executive may
hold on the Board.

 

(b) During the Employment
Period, Executive shall report to the Chief Executive Officer.

 

(c) During the Employment
Period, Executive shall devote Executive’s reasonable best efforts and Executive’s full business time and attention
(except for permitted paid time off periods and reasonable periods of illness or other incapacity) to the business and affairs
of the Company, its subsidiaries and affiliates; provided, however, that Executive may (i) engage in charitable and
civic activities, (ii) manage his personal and family finances and passive investments, and (iii) subject to the approval of the
Nominating and Governance Committee of the Board which shall not be unreasonably withheld, serve on at least one board of directors
for other public or private companies, so long as such activities do not compete with the Company’s Business or materially
interfere, individually or in the aggregate, with the performance of his duties hereunder.

 

     

     

    

 

(d) Executive shall perform
Executive’s duties and responsibilities to the best of Executive’s abilities in a diligent, trustworthy, businesslike
and efficient manner.

 

4. Compensation
and Benefits.

 

(a) Salary. During
the Employment Period, the Company agrees to pay Executive a salary in installments based on the Company’s practices as may
be in effect from time to time. Executive’s initial salary shall be at the rate of $330,000 per year (the “Base
Salary”). The Base Salary shall be reviewed by the Compensation Committee of the Board (the “Compensation Committee”)
in accordance with the Company’s policies and practices, but not less frequently than once annually, and may be increased
but not decreased (unless agreed to in writing by Executive). To the extent applicable, the term “Base Salary”
shall include any such increases (or decreases agreed to in writing by Executive) to the Base Salary provided above.

 

(b) Annual Bonus.
During the Employment Period, Executive will be eligible for discretionary annual bonus compensation, with the actual payout to
be determined based on the achievement of goals determined by the Compensation Committee annually. For calendar year 2018, the
target annual bonus amount shall equal 65% of Executive’s Base Salary and for years subsequent to calendar year 2018 the
target annual bonus amount shall be determined by the Compensation Committee based on its review of the competitive market and
other relevant considerations. To the extent applicable, the term “Target Annual Bonus” shall mean the target annual
bonus established by the Compensation Committee with respect to a particular year. Executive will be required to be employed by
the Company through the date on which the annual bonus is paid in order to be eligible to receive the annual bonus payment under
this Section 4(b). The annual bonus, if any, will be paid by no later than March 15th of the year following the
year to which it relates.

 

(c) Paid Time Off.
During the Employment Period, Executive shall be entitled to 20 days of paid time off during each calendar year. Any accrued paid
time off that is not used in the calendar year in which it is earned will not be eligible to be carried forward to, or otherwise
used in, any subsequent calendar year.

 

(d) Holidays.
During the Employment Period, Executive shall be entitled to holidays consistent with the Company’s current policy, which
may be amended from time to time.

 

(e) Standard Benefits
Package. Executive shall be entitled during the Employment Period to participate, on the same basis as other employees of the
Company, in the Company’s Standard Benefits Package. The Company’s “Standard Benefits Package” means
those benefits (including insurance and other benefits, but excluding, except as hereinafter provided in Sections 6(b),
6(c), and 6(d), if applicable, any severance pay program or policy of the Company) for which substantially all similarly
situated employees of the Company are from time to time generally eligible, as determined from time to time by the Board and/or
Compensation Committee.

 

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(f) Incentive Compensation.
With respect to each calendar year during the Employment Period, Executive shall be eligible to participate in any incentive compensation
programs generally made available to senior executives of the Company at a level commensurate with his position in accordance with
and subject to the terms of such plan.

 

(g) Expense Reimbursement.
The Company shall reimburse Executive for all reasonable expenses incurred by Executive during the Employment Period in the course
of performing Executive’s duties under this Agreement that are incurred in accordance with the Company’s policies
as in effect from time to time with respect to travel, entertainment and other business expenses, subject to the Company’s
requirements applicable generally with respect to reporting and documentation of such expenses. Any such reimbursement of expenses
shall be made by the Company upon or as soon as practicable following receipt of such documentation (but in any event not later
than the close of the Employee’s taxable year following the taxable year in which the expense is incurred by Executive).

 

5. Employment Period.

 

(a) Except as hereinafter
provided, the Employment Period shall continue until, and shall end upon, the third anniversary of the Effective Date (the “Initial
Term”).

 

(b) On the third anniversary
of the Effective Date and, after the Initial Term, on such third anniversary and each annual anniversary of such date thereafter,
unless the Employment Period shall have ended pursuant to Section 5(c) below or the Company or Executive shall have given
the other party at least 60 days’ written notice that the Employment Period will not be extended, the Employment Period shall
be extended for an additional one-year period.

 

(c) Notwithstanding Sections
5(a) or 5(b) above, the Employment Period shall end early upon the first to occur of any of the following events:

 

(i) Executive’s
death;

 

(ii) the Company’s
termination of Executive’s employment due to Permanent Disability;

 

(iii) a Termination
For Cause;

 

(iv) a Termination
Without Cause;

 

(v) a Termination With
Good Reason; or

 

(vi) a Voluntary Termination.

  

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6. Post-Employment
Payments.

 

(a) At the end of
Executive’s employment for any reason, Executive shall cease to have any rights to salary, equity awards, expense
reimbursements or other benefits, except that Executive shall be entitled to (i) any Base Salary which has accrued but is
unpaid, (ii) any reimbursable expenses which have been incurred but are unpaid, (iii) and any paid time off days which have
accrued pursuant to the Company’s paid time off policy, as in effect from time to time, but are unused, as of the end
of the Employment Period, (iv) any option or other equity-grant rights or plan benefits which by their terms extend beyond
termination of Executive’s employment (but only to the extent provided in any option or equity grant theretofore
granted to Executive or any other benefit plan in which Executive has participated as an employee of the Company and
excluding, except as hereinafter provided in Sections 6(b), 6(c), and 6(d), if applicable, and any
severance pay program or policy of the Company) and (vi) any benefits to which Executive is entitled under Part 6 of Subtitle
B of Title I of the Employee Retirement Income Security Act of 1974, as amended (“COBRA”). In addition,
Executive shall be entitled to the additional amounts described in Sections 6(b), 6(c) and 6(d), if
applicable, in the circumstances described in such Sections.

 

(b) If the Employment
Period ends pursuant to Section 5 on account of a Termination Without Cause or a Termination With Good Reason, and such
termination is not in connection with or following a Change in Control as provided in Section 6(c) the Company shall pay
Executive an amount equal to 150% of the sum of his Base Salary plus his Target Annual Bonus at the time of such termination. Such
amount shall be paid in equal installments over the 18 month period following Executive’s termination of employment in accordance
with the Company’s normal payroll practices; provided, however, that any amount due under this sentence during
the 60-day period following such termination shall not be paid during such 60-day period but instead shall be paid on the 60th
day following such termination of employment.

 

(c) If, (i) during the
24-month period following a Change in Control the Employment Period ends pursuant to Section 5 on account of a Termination
Without Cause or a Termination With Good Reason or (ii) during the 3-month period preceding a Change in Control, the Employment
Period ends pursuant to Section 5 on account of a Termination Without Cause in anticipation of a Change in Control transaction
that the Board is actively considering and that is ultimately consummated, then the Company shall pay Executive an amount equal
to 200% of the sum of his Base Salary plus his Target Annual Bonus at the time of such termination. Such amount shall be paid in
equal installments over the 24-month period following Executive’s termination of employment in accordance with the Company’s
normal payroll practices; provided, however, that any amount due under this sentence during the 60-day period following
such termination shall not be paid during such 60-day period but instead shall be paid on the 60th day following such termination
of employment; provided further that, if the Employment Period ends pursuant to Section 5 on account of a Termination Without
Cause in anticipation of a Change in Control transaction that the Board is actively considering, payments shall be made under Section
6(b) above but with benefit levels increased to reflect the amounts provided for in this section and with the additional severance
benefits for the months preceding the Change in Control to be made within 30 days after the date the Change in Control is ultimately
consummated.

 

(d) If the Employment
Period ends pursuant to Section 5 on account of a Termination Without Cause or Termination With Good Reason, regardless
of whether such termination occurs in connection with or following a Change in Control, if Executive elects continuation coverage
under the Company’s medical plan pursuant to COBRA, the Company shall reimburse Executive for the full amount of Executive’s
COBRA premium payments for such coverage and his eligible dependents until the earlier of (x) Executive’s eligibility for
any such coverage under another employer’s or any other medical plan, (y) the date that is 18 months following the termination
of Executive’s employment or (z) the date Executive is no longer eligible to receive COBRA continuation coverage. The Company
shall make any such reimbursement within 30 days following receipt of evidence from Executive of Executive’s payment of the
COBRA premium, provided that Executive has submitted evidence of the payment within 60 days following the date on which the payment
is made.

 

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(e) It is expressly understood
that the Company’s payment obligations under Sections 6(b), 6(c) or 6(d), if applicable, shall cease
in the event Executive breaches in any material respect any of the agreements in Section 7. Each payment under Sections
6(b), 6(c) or 6(d), if applicable, shall be considered a separate payment and not one of a series of payments
for purposes of Section 409A.

 

(f) Executive shall not
be required to mitigate the amount of any payment provided for in this Agreement by seeking other employment and such amounts shall
not be reduced whether or not Executive obtains other employment, except as provided in Section 6(d). Any severance payments
payable under this Agreement shall not be reduced or offset by any claim the Company may have against Executive.

 

(g) Release. Notwithstanding
anything herein to the contrary, the Company shall not be obligated to make any payment under Sections 6(b), 6(c)
or 6(d), if applicable, unless (i) prior to the 60th day following the Termination Without Cause or Termination
With Good Reason, Executive executes a release of all current or future claims, known or unknown, arising on or before the date
of the release against the Company and its subsidiaries and the directors, officers, employees and affiliates of any of them, in
a form provided by the Company, and (ii) any applicable revocation period has expired during such 60-day period without Executive
revoking such release.

 

7. Competitive Activity
Confidentiality; Non-solicitation.

 

(a) Acknowledgements
and Agreements. Executive hereby acknowledges and agrees that in the performance of Executive’s duties to the Company
during the Employment Period, Executive will be brought into frequent contact with existing and potential customers of the Company
throughout the world. Executive also agrees that trade secrets and Confidential Information of the Company, more fully described
in Section 7(e)(i), gained by Executive during Executive’s association with the Company, have been developed by the
Company through substantial expenditures of time, effort and money and constitute valuable and unique property of the Company.
Executive further understands and agrees that the foregoing makes it necessary for the protection of the Company’s Business
that Executive not compete with the Company during his employment with the Company, and not compete with the Company for a reasonable
period thereafter, as further provided in the following Sections.

 

(b) Covenants.

 

(i) Covenants During
Employment. While employed by the Company, Executive will not compete with the Company anywhere in the world. In accordance
with this restriction, but without limiting its terms, while employed by the Company, Executive will not:

 

		(A)	perform services for, enter into or engage in any
business which competes with, engages in or proposes to engage in the Company’s Business;

 

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		(B)	solicit customers, business, patronage or orders for,
or sell any products or services in competition with, any business that competes with, engages in or proposes to engage in the
Company’s Business;

 

		(C)	solicit, divert, entice or otherwise take away any
customers, business, patronage or orders of the Company, or attempt to do so; or

 

		(D)	promote or assist, financially or otherwise, any person,
firm, association, partnership, corporation or other entity engaged in any business which competes with, engages in or proposes
to engage in the Company’s Business.

 

(ii) Covenants Following
Termination. For a period of 18 months following the termination of Executive’s employment (for any reason), Executive
shall not:

 

		(A)	perform services for, enter into or engage in any business
which competes with, engages in or proposes to engage in the Company’s Business within the Restricted Territory;

 

		(B)	solicit customers, business, patronage or orders for,
or sell any products and services in competition with, any business, wherever located, that competes with, engages in or proposes
to engage in the Company’s Business within the Restricted Territory;

 

		(C)	solicit, divert, entice or otherwise take away any
customers, business, patronage or orders of the Company within the Restricted Territory, or attempt to do so; or

 

		(D)	promote or assist, financially or otherwise, any person,
firm, association, partnership, corporation or other entity engaged in any business which competes with, engages in or proposes
to engage in the Company’s Business within the Restricted Territory.

 

(iii) Indirect Competition.
For the purposes of Sections 7(b)(i) and (ii) inclusive, but without limitation thereof, Executive will be in violation
thereof if Executive engages in any or all of the activities set forth therein directly as an individual on Executive’s own
account, or indirectly as a partner, joint venturer, employee, agent, salesperson, consultant, officer and/or director of any firm,
association, partnership, corporation or other entity, or as a stockholder of any corporation (or owner of any other type of equity
interest in any entity) in which Executive or Executive’s spouse, child or parent owns, directly or indirectly, individually
or in the aggregate, more than 1% of the outstanding stock or other equity interests.

 

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(iv) If it is judicially
determined that Executive has violated this Section 7(b), then the period applicable to each obligation that Executive has
been determined to have violated shall be automatically extended by a period of time equal in length to the period during which
such violation(s) occurred, subject to applicable law.

 

(c) The Company.
For purposes of this Section 7, the Company shall include any and all direct and indirect subsidiary, parent, affiliated,
or related companies of the Company for which Executive worked or had responsibility at the time of termination of his employment
and at any time during the two-year period prior to such termination.

 

(d) Non-Solicitation;
Non-Association. Executive will not directly or indirectly at any time during the period of Executive’s employment, or
for a period of 18 months following a termination of Executive’s employment (for any reason), attempt to disrupt, damage,
impair or interfere with the Company’s Business by raiding or attempting to raid any of the Company’s employees, soliciting,
inducing or attempting to persuade any of them to resign from their employment by the Company or associating with any of them for
the purpose of encouraging them to resign from their employment by the Company, or by disrupting or attempting to impede the relationship
between the Company and any of its consultants, agents, representatives or vendors. Executive acknowledges that this covenant is
necessary to enable the Company to maintain a stable workforce and remain in business.

 

(e) Further Covenants.

 

(i) Executive
will keep in strict confidence, and will not, directly or indirectly, at any time, during or after Executive’s
employment with the Company, disclose, furnish, disseminate, make available or, except in the course of performing
Executive’s duties of employment, use any trade secrets or confidential business and technical information of the
Company or its customers or vendors, without limitation as to when or how Executive may have acquired such information
(“Confidential Information”), except (A) as required in the performance of his duties to the Company, (B)
to the extent that Executive is required by law, or requested by subpoena, court order or governmental, regulatory or
self-regulatory body with apparent authority to disclose any Confidential Information (provided that in such case, Executive
shall (x) provide the Board, to the extent legally permitted, with notice as soon as practicable following such request that
such disclosure has been requested or is or may be required, (y) reasonably cooperate with the Company, at the
Company’s expense, in protecting, to the maximum extent legally permitted, the confidential or proprietary nature of
such Confidential Information, and (z) disclose only that Confidential Information which he is legally required to disclose),
(C) disclosing information that has been or is hereafter made public through no act or omission of Executive in violation of
this Agreement or any other confidentiality obligation or duty owed to the Company, (D) disclosing information and documents
to his attorney or tax adviser for the purpose of securing legal or tax advice (provided that such advisors agree to keep
such information confidential), or (E) disclosing information and documents to the extent reasonably appropriate (and subject
to a protective order to the extent applicable) in connection with any litigation between Executive and the Company. Such
Confidential Information shall include, without limitation, the Company’s unique selling, manufacturing and
servicing methods and business techniques, training, service and business manuals, promotional materials, training courses
and other training and instructional materials, vendor and product information, customer and prospective customer lists,
other customer and prospective customer information and other business information. Executive specifically acknowledges that
all such Confidential Information, whether reduced to writing, maintained on any form of electronic media, or maintained in
the mind or memory of Executive and whether compiled by the Company, and/or Executive, derives independent economic value
from not being readily known to or ascertainable by proper means by others who can obtain economic value from its disclosure
or use, that reasonable efforts have been made by the Company to maintain the secrecy of such information, that such
information is the sole property of the Company and that any retention and use of such information by Executive during
Executive’s employment with the Company (except in the course of performing Executive’s duties and obligations to
the Company) or after the termination of Executive’s employment shall constitute a misappropriation of the
Company’s trade secrets. Nothing in this Agreement prevents Executive from providing, without prior notice to the
Company, information to governmental or administrative authorities regarding possible violations of law or otherwise
testifying or participating in any investigation or proceeding by any governmental or administrative authorities
regarding possible violations of law, and for purpose of clarity, Executive is not prohibited from providing information
voluntarily to the Securities and Exchange Commission pursuant to Section 21F of the Exchange Act.

 

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(ii) Executive agrees
that upon termination of Executive’s employment with the Company, for any reason, Executive shall return to the Company,
in good condition, all property of the Company, including the originals and all copies of any materials which contain, reflect,
summarize, describe, analyze or refer or relate to any items of information listed in Section 7(e)(i). In the event that
such items are not so returned, the Company will have the right to charge Executive for all reasonable damages, costs, attorneys’
fees and other expenses incurred in searching for, taking, removing and/or recovering such property. Notwithstanding the foregoing,
Executive shall be permitted to retain or copy (A) his personal contacts, calendar and personal correspondence, and (B) any documents
or information related to his compensation or reasonably needed for Executive’s tax purposes.

 

(iii) U.S. Defend
Trade Secrets Act Notice of Immunity. The U.S. Defend Trade Secrets Act of 2016 (“DTSA”) provides that an
individual shall not be held criminally or civilly liable under any federal or state trade secret law for the disclosure of a trade
secret that (A) is made (1) in confidence to a federal, state, or local government official, either directly or indirectly, or
to an attorney; and (2) solely for the purpose of reporting or investigating a suspected violation of law or (B) is made in a complaint
or other document filed in a lawsuit or other proceeding, if such filing is made under seal. In addition, the DTSA provides that
an individual who files a lawsuit for retaliation by an employer for reporting a suspected violation of law may disclose the trade
secret to the attorney of the individual and use the trade secret information in the court proceeding, if the individual (x) files
any document containing the trade secret under seal and (y) does not disclose the trade secret, except pursuant to court order.

 

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(f) Discoveries and
Inventions; Work Made for Hire.

 

(i) Executive
agrees that upon conception and/or development of any idea, discovery, invention, improvement, software, writing or other
material or design that: (A) relates to the business of the Company, or (B) relates to the Company’s actual or
demonstrably anticipated research or development, or (C) results from any work performed by Executive for the Company,
Executive will assign to the Company the entire right, title and interest in and to any such idea, discovery, invention,
improvement, software, writing or other material or design. Executive has no obligation to assign any idea, discovery,
invention, improvement, software, writing or other material or design that Executive conceives and/or develops entirely on
Executive’s own time without using the Company’s equipment, supplies, facilities, or trade secret information
unless the idea, discovery, invention, improvement, software, writing or other material or design either: (x) relates to the
business of the Company, or (y) relates to the Company’s actual or demonstrably anticipated research or development, or
(z) results from any work performed by Executive for the Company. Executive agrees that any idea, discovery, invention,
improvement, software, writing or other material or design that relates to the business of the Company or relates to the
Company’s actual or demonstrably anticipated research or development which is conceived or suggested by Executive,
either solely or jointly with others, within one year following termination of Executive’s employment under this
Agreement or any successor agreements shall be presumed to have been so made, conceived or suggested in the course of
such employment with the use of the Company’s equipment, supplies, facilities, and/or trade secrets.

 

(ii) In order to determine
the rights of Executive and the Company in any idea, discovery, invention, improvement, software, writing or other material, and
to insure the protection of the same, Executive agrees that during Executive’s employment, and, to the extent related to
the Company’s Business, for one year after termination of Executive’s employment under this Agreement or any successor
agreement, Executive will disclose immediately and fully to the Company any idea, discovery, invention, improvement, software,
writing or other material or design conceived, made or developed by Executive solely or jointly with others. The Company agrees
to keep any such disclosures confidential. Executive also agrees during Executive’s employment, and, to the extent related
to the Company’s Business, for one year after termination of Executive’s employment under this Agreement or any successor
agreement, to record descriptions of all work in the manner directed by the Company and agrees that all such records and copies,
samples and experimental materials will be the exclusive property of the Company. Executive agrees that at the request of and without
charge to the Company, but at the Company’s expense, Executive will execute a written assignment of the idea, discovery,
invention, improvement, software, writing or other material or design to the Company and will assign to the Company any application
for letters patent or for trademark registration made thereon, and to any common-law or statutory copyright therein; and that Executive
will do whatever may be necessary or desirable to enable the Company to secure any patent, trademark, copyright, or other property
right therein in the United States and in any foreign country, and any division, renewal, continuation, or continuation in part
thereof, or for any reissue of any patent issued thereon. In the event the Company is unable, after reasonable effort, and in any
event after ten business days, to secure Executive’s signature on a written assignment to the Company of any application
for letters patent or to any common-law or statutory copyright or other property right therein, whether because of Executive’s
physical or mental incapacity or for any other reason whatsoever, Executive irrevocably designates and appoints the Corporate Secretary
of the Company as Executive’s attorney-in-fact to act on Executive’s behalf to execute and file any such application
and to do all other lawfully permitted acts to further the prosecution and issuance of such letters patent, copyright or trademark.

 

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(iii) Executive
acknowledges that, to the extent permitted by law, all work papers, reports, documentation, drawings, photographs, negatives,
tapes and masters therefor, prototypes and other materials (hereinafter, “items”), including any and all such
items generated and maintained on any form of electronic media, generated by Executive during Executive’s employment
with the Company shall be considered a “work made for hire” and that ownership of any and all copyrights in any
and all such items shall belong to the Company. The item will recognize the Company as the copyright owner, will contain all
proper copyright notices, e.g., “(creation date) NRC Group Holdings, LLC, All Rights Reserved,” and will be in
condition to be registered or otherwise placed in compliance with registration or other statutory requirements throughout the
world.

 

(g) Communication
of Contents of Agreement. While employed by the Company and during the period of time Executive is bound by the non-compete
obligation in Section 7(b)(ii), Executive will communicate the contents of Section 7 to any person, firm, association,
partnership, corporation or other entity that Executive intends to be employed by, associated with, or represent.

 

(h) Confidentiality
Agreements. Executive agrees that Executive shall not disclose to the Company or induce the Company to use any secret or confidential
information belonging to Executive’s former employers. Except as indicated, Executive warrants that Executive is not bound
by the terms of a confidentiality agreement or other agreement with a third party that would preclude or limit Executive’s
right to work for the Company and/or to disclose to the Company any ideas, inventions, discoveries, improvements or designs or
other information that may be conceived during employment with the Company. Executive agrees to provide the Company with a copy
of any and all agreements with a third party that preclude or limit Executive’s right to make disclosures or to engage in
any other activities contemplated by Executive’s employment with the Company.

 

(i) Relief. Executive
acknowledges and agrees that the remedy at law available to the Company for breach of any of Executive’s obligations under
this Agreement would be inadequate. Executive therefore agrees that, in addition to any other rights or remedies that the Company
may have at law or in equity, temporary and permanent injunctive relief may be granted in any proceeding which may be brought to
enforce any provision contained in Sections 7(b), 7(d), 7(e), 7(f), 7(g) and 7(h) inclusive,
without the necessity of proof of actual damage.

 

(j) Reasonableness.
Executive acknowledges that Executive’s obligations under this Section 7 are reasonable in the context of the nature
of the Company’s Business and the competitive injuries likely to be sustained by the Company if Executive were to violate
such obligations. Executive further acknowledges that this Agreement is made in consideration of, and is adequately supported by
the agreement of the Company to perform its obligations under this Agreement and by other consideration, which Executive acknowledges
constitutes good, valuable and sufficient consideration. It is the desire and intent of the parties hereto that the provisions
of this Agreement shall be enforced to the fullest extent legally-permissible. Accordingly, if any particular provision(s) of this
Agreement shall be adjudicated to be invalid or unenforceable, the court may modify or sever such provision(s), such modification
or deletion to apply only with respect to the operation of such provision(s) in the particular jurisdiction in which such adjudication
is made. In addition, if any one or more of the provisions contained in this Agreement shall for any reason be held to be excessively
broad as to duration, geographical scope, activity or subject, it shall be construed by limiting and reducing it, so as to be enforceable
to the extent compatible with the applicable law as it shall then appear. The remaining provisions of this Agreement shall remain
in full force and effect.

 

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8. Definitions.

 

(a)
“Affiliate” means any Person that directly or indirectly controls, is controlled by, or is under common
control with the Company. The term “control” (including with the correlative meaning, the terms “controlled
by” and “under common control with”), as applied to any Person, means the possession, directly or
indirectly, of the power to direct or cause the direction of the management and policies of such Person, whether through the
ownership of voting or other securities, by contract, or otherwise.

 

(b) “Change
in Control” means the occurrence of any of the following events:

 

(i) the acquisition
by any individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Exchange Act) (a “Person”)
of beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of 35% or more of either: (A) the
then-outstanding common equity interests of the Company (the “Common Shares”); or (B) the combined voting power
of the then-outstanding voting securities of the Company entitled to vote generally in the election of directors or managers, as
applicable (“Voting Shares”); provided, however, that for purposes of this subsection (i), the
following acquisitions shall not constitute a Change in Control: (1) any acquisition directly from the Company; (2) any acquisition
by the Company or any Affiliates; (3) any acquisition by any employee benefit plan (or related trust) sponsored or maintained by
the Company or any Affiliates; or (4) any acquisition by any Person pursuant to a transaction which complies with clauses (A),
(B) and (C) of subsection (iii); or

 

(ii) individuals who,
as of the Effective Date (or, in the event the HCAC Transaction is consummated, as of immediately following the consummation of
the HCAC Transaction), constitute the Board (the “Incumbent Board”) cease for any reason (other than death or
disability) to constitute at least a majority of the Board during any 12-month period; provided, however, that any
individual becoming a director subsequent to the Effective Date (or, in the event the HCAC Transaction is consummated, as of immediately
following the consummation of the HCAC Transaction) whose election, or nomination for election by the Company’s equityholders,
was approved by a vote or the approval of at least a majority of the directors then comprising the Incumbent Board (either by a
specific vote or written action or by approval of the proxy statement of the Company in which such person is named as a nominee
for director, without objection to such nomination) shall be considered as though such individual were a member of the Incumbent
Board, but excluding for this purpose, any such individual whose initial assumption of office occurs as a result of an actual or
threatened election contest with respect to the election or removal of directors or other actual or threatened solicitation of
proxies or consents by or on behalf of a Person other than the Board; or

 

    	 	11	 

     

    

 

(iii)
consummation of a reorganization, merger or consolidation or sale or other disposition of all or substantially all of the
assets of the Company (a “Business Combination”), in each case, unless, following such Business
Combination, (A) all or substantially all of the Persons who were the beneficial owners, respectively, of the Common Shares
and Voting Shares immediately prior to such Business Combination beneficially own, directly or indirectly, more than 66-2/3%
of, respectively, the then-outstanding common shares and the combined voting power of the then-outstanding voting securities
entitled to vote generally in the election of directors, as the case may be, of the entity resulting from such Business
Combination (including an entity which as a result of such transaction owns the Company or all or substantially all of the
Company’s assets either directly or through one or more subsidiaries) in substantially the same proportions relative to
each other as their ownership, immediately prior to such Business Combination, of the Common Shares and Voting Shares of the
Company, as the case may be, (B) no Person (excluding any entity resulting from such Business Combination or any employee
benefit plan (or related trust) sponsored or maintained by the Company or any Affiliate or such entity resulting from such
Business Combination) beneficially owns, directly or indirectly, 30% or more of, respectively, the then-outstanding common
equity securities of the entity resulting from such Business Combination, or the combined voting power of the
then-outstanding voting securities of such entity except to the extent that such ownership existed prior to the
Business Combination, and (C) at least a majority of the members of the board of directors or managers, as applicable, of the
entity resulting from such Business Combination were members of the Incumbent Board at the time of the execution of the
initial agreement, or of the action of the Board, providing for such Business Combination; or

 

(iv) approval by the
equityholders of the Company of a complete liquidation or dissolution of the Company.

 

Notwithstanding anything
herein to the contrary, in no event will (i) the HCAC Transaction or entry into any definitive transaction agreement related thereto
be deemed to be a Change in Control or (ii) the disposition of any portion of JFL-NRC-SES Partners, LLC’s ownership interest
in the Company be deemed to be a Change in Control.

 

(c) “Company’s
Business” means providing comprehensive environmental, compliance and waste management services to the marine and rail
transportation, general industrial and upstream and midstream energy markets and any other business that the Company conducts (as
advertised on the Company’s website or as described in any other marketing materials of the Company) from time to time during
the Employment Period.

 

(d) “Exchange
Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations thereunder, as such laws, rules
and regulations may be amended from time to time.

 

(e) “HCAC”
means Hennessey Capital Acquisition Corp. III, a Delaware corporation.

 

(f) “HCAC Transaction”
means the acquisition by HCAC of all of the equity securities of NRC Group Holdings, LLC.

 

(g) “Permanent
Disability” means that Executive, because of accident, disability, or physical or mental illness, is incapable of performing
Executive’s duties to the Company or any subsidiary, as determined by the Board. Notwithstanding the foregoing, Executive
will be deemed to have become incapable of performing Executive’s duties to the Company or any subsidiary, if Executive is
incapable of so doing for (i) a continuous period of 120 days and remains so incapable at the end of such 120 day period or (ii)
periods amounting in the aggregate to 180 days within any one period of 365 days and remains so incapable at the end of such aggregate
period of 180 days.

 

    	 	12	 

     

    

 

(h) “Restricted
Territory” means: (i) the United States; and/or (ii) locations where services were provided for all of the specific customer
accounts, whether within or outside of the geographic area described in (i) above, with which Executive had any contact or for
which Executive had any responsibility (either direct or supervisory) at the time of termination of Executive’s employment
and at any time during the two year period prior to such termination.

 

(i) “Termination
For Cause” means the termination by the Company of Executive’s employment as a result of: (i) Executive’s
indictment (or other criminal charge against Executive) for a felony or any crime involving moral turpitude, or Executive’s
commission of fraud, breach of fiduciary duty, theft, embezzlement or crime against the Company or any subsidiary or affiliate
of the Company or any customer of the Company, its subsidiaries or affiliates, (ii) conduct by Executive that brings the Company
or any subsidiary or affiliate of the Company into public disgrace or disrepute, (iii) Executive’s gross negligence or willful
misconduct with respect to the Company or any subsidiary or affiliate of the Company or in the performance of Executive’s
duties and services required for Executive’s position with the Company, which, if curable, is not cured within 10 days after
written notice thereof to Executive, (iv) Executive’s insubordination to, or failure to follow, the lawful directions of
the Board or the Chief Executive Officer, which, if curable, is not cured within ten days after written notice thereof to Executive,
(v) Executive’s material violation of Section 7, (vi) Executive’s breach of a material employment policy of
the Company which, if curable, is not cured within ten days after written notice thereof to Executive (including, without limitation,
the Company’s code of ethics and insider trading policy), (vii) the abuse of any controlled substance or of alcohol or any
other non-controlled substance which the Company determines renders Executive unfit to serve in Executive’s capacity as Chief
Financial Officer of the Company, or (viii) any other material breach by Executive of this Agreement or any other agreement with
the Company or any subsidiary or affiliate, which, if curable, is not cured within 30 days after written notice thereof to Executive.
Notwithstanding the foregoing, no termination by the Company shall constitute a “Termination For Cause” unless
(A) the Company provides Executive reasonable written notice of its intent to terminate Executive by reason of a Termination For
Cause, which such notice must include a statement that a majority of the Board has determined in good faith that an event described
in clause (i), (ii), (iii), (iv), (v), (vi), (vii) or (viii) exists and (B) Executive is given reasonable opportunity during the
30 day period after receiving the notice described in the preceding clause (A) to be heard by the Board with Executive’s
legal counsel.

 

(j) “Termination
With Good Reason” means a termination by Executive of Executive’s employment with the Company after: (i) a decrease
of greater than 10% in either the Base Salary or the Target Annual Bonus, other than as part of an across-the-board reduction applicable
to all Company executives, (ii) the material diminution in Executive’s position, duties, authority, reporting or responsibilities,
(iii) any material breach of this Agreement or any equity agreement by the Company (including the failure of the Company to satisfy
the last sentence of Section 16), or (iv) the involuntary relocation of Executive’s principal place of employment
to a location more than 35 miles beyond Executive’s principal place of employment as of the Effective Date. Notwithstanding
the foregoing, no termination of employment by Executive shall constitute a “Termination With Good Reason” unless (A)
Executive gives the Company notice of the existence of an event described in clause (i), (iii) or (iv) above, within 60 days following
the occurrence thereof, (B) the Company does not remedy such event described in clause (i), (ii), (iii) or (iv) above, as applicable,
within 30 days of receiving the notice described in the preceding clause (A), and (C) Executive terminates employment within 30
days of the end of the cure period specified in clause (B), above.

 

    	 	13	 

     

    

 

(k)
“Termination Without Cause” means the termination by the Company or any subsidiary of Executive’s
employment with the Company or any subsidiary for any reason other than a termination for Permanent Disability or a
Termination For Cause and shall not include the Company’s giving notice pursuant to Section 5(b) that the
Employment Period will not be extended.

 

(l) “Voluntary
Termination” means Executive’s termination of Executive’s employment with the Company or any subsidiary for
any reason, other than a Termination With Good Reason (it being understood that Executive may voluntarily resign his employment
at any period after the Effective Date).

 

9. Non-Disparagement.
Executive agrees not to disparage the Company, any of its products or practices, or any of its directors, officers, agents, representatives,
partners, members, or affiliates, either orally or in writing, at any time, and the Company shall use its commercially reasonable
best efforts to not disparage, and shall instruct its directors and executive officers not to disparage, Executive, either orally
or in writing, at any time; provided, however, that Executive and the Company (and its directors and executive officers)
may confer in confidence with their respective legal representatives and make truthful statements as required by law, or by governmental,
regulatory or self-regulatory investigations or as truthful testimony in connection with any litigation involving Executive and
the Company. During the Employment Period, this Section 9 shall only apply to public statements or private statements that
are reasonably likely to become public as a result of communication to any person or entity that is a member of, employed or engaged
by, or directly connected to any broadcast or other media.

 

10. Survival.
Subject to any limits on applicability contained therein, Section 7 shall survive and continue in full force in accordance with
its terms notwithstanding any termination of the Employment Period.

 

11. Taxes. The
Company may withhold from any amounts payable under this Agreement all federal, state, city or other taxes as the Company is required
to withhold pursuant to any applicable law, regulation or ruling. Notwithstanding any other provision of this Agreement, the Company
shall not be obligated to guarantee any particular tax result for Executive with respect to any payment provided to Executive hereunder,
and Executive shall be responsible for any taxes imposed on Executive with respect to any such payment.

 

    	 	14	 

     

    

 

12. Notices.
Any notice provided for in this Agreement shall be in writing and shall be either personally delivered, sent by reputable overnight
carrier or mailed by first class mail, return receipt requested, to the recipient at the address below indicated:

 

Notices to Executive

At the address contained in the Company’s payroll records

 

Notices to the Company:

NRC Group Holdings, LLC

3500 Sunrise Highway

Suite 200, Building 200

Great River, New York 11739

 

or such other address or to the attention
of such other person as the recipient party shall have specified by prior written notice to the sending party. Any notice under
this Agreement will be deemed to have been given when so delivered.

 

13. Severability.
Whenever possible, each provision of this Agreement shall be interpreted in such manner as to be effective and valid under applicable
law, but if any provision of this Agreement is held to be invalid or unenforceable in any respect under any applicable law, such
invalidity or unenforceability shall not affect any other provision, but this Agreement shall be reformed, construed and enforced
as if such invalid or unenforceable provision had never been contained herein.

 

14. Complete Agreement.
This Agreement embodies the complete agreement and understanding between the parties with respect to the subject matter hereof
and supersedes and preempts any prior understandings, agreements or representations by or between the parties, written or oral
which may have related to the subject matter hereof in any way, including the Prior Employment Agreement.

 

15. Counterparts.
This Agreement may be executed in separate counterparts, each of which shall be deemed to be an original and both of which taken
together shall constitute one and the same agreement.

 

16. Successors and
Assigns. This Agreement shall bind and inure to the benefit of and be enforceable by Executive, the Company and their respective
heirs, executors, personal representatives, successors and assigns, except that neither party may assign any rights or delegate
any obligations hereunder without the prior written consent of the other party. Executive hereby consents to the assignment by
the Company of all of its rights and obligations hereunder to any successor to the Company by merger or consolidation or purchase
of all or substantially all of the Company’s assets, provided such transferee or successor assumes the liabilities
of the Company hereunder. The Company shall require any successor to all or substantially all of its assets (whether direct or
indirect, by purchase, merger, consolidation or otherwise) to assume expressly and agree to perform this Agreement in the same
manner and to the same extent that the Company would be required to perform it if no such succession had taken place. Upon consummation
of the HCAC Transaction, this Agreement shall be assigned by the Company to HCAC and all references to (a) the “Company”
shall refer to HCAC or its successors and (b) the “Board” shall be to the Board of Directors of HCAC.

 

    	 	15	 

     

    

 

17. Choice of Law/Dispute
Resolution. This Agreement shall be governed by, and construed in accordance with, the internal, substantive laws of the State
of Pennsylvania. Any dispute or controversy arising under, out of, or in connection with this Agreement (other than Section
7) shall, at the election and upon written demand of either party, be finally determined and settled by binding arbitration
in the City of Great River, New York, in accordance with the Labor Arbitration rules and procedures of the American Arbitration
Association, and judgment upon the award may be entered in any court having jurisdiction thereof. The Company and Executive shall
share the costs of the arbitration and each party shall bear its own attorneys’ and accountants’ fees in connection
therewith, including as incurred in any litigation to enforce any arbitration award.

 

18. Amendment and
Waiver. The provisions of this Agreement may be amended or waived only with the prior written consent of the Company and Executive,
and no course of conduct or failure or delay in enforcing the provisions of this Agreement shall affect the validity, binding effect
or enforceability of this Agreement.

 

19. Section 409A
Compliance.

 

(a) The parties intend
for this Agreement to either comply with, or be exempt from, Section 409A, and all provisions of this Agreement will be interpreted
and applied accordingly. For purposes of this Agreement, each installment payment provided under this Agreement shall be treated
as a separate payment. If any compensation or benefits provided by this Agreement may result in the application of Section 409A,
the Company shall, in consultation with Executive, modify the Agreement in the least restrictive manner necessary in order to exclude
such compensation from the definition of “deferral of compensation” within the meaning of such Section 409A or in order
to comply with the provisions of Section 409A and without any diminution in the value of the payments or benefits to Executive.
In no event, however, shall this Section 19 or any other provisions of this Agreement be construed to require the Company
to provide any gross-up for the tax consequences of any provisions of, or payments under, this Agreement and the Company shall
have no responsibility for tax consequences to Executive (or his beneficiary) resulting from the terms or operation of this Agreement.
Any payments or reimbursements of any expenses provided for under this Agreement shall be made in accordance with Treas. Reg. §1.409A-3(i)(1)(iv).

 

(b) To the extent that
any payment or benefit pursuant to this Agreement constitutes a “deferral of compensation” subject to Section 409A
(after taking into account to the maximum extent possible any applicable exemptions) (a “409A Payment”) treated
as payable upon Separation from Service, then, if on the date of Executive’s Separation from Service, Executive is a Specified
Employee, then to the extent required for Executive not to incur additional taxes pursuant to Section 409A, no such 409A Payment
shall be made to Executive earlier than the earlier of (i) six months after Executive’s Separation from Service or (ii) the
date of his death. Should this Section 19 result in payments or benefits to Executive at a later time than otherwise would
have been made under this Agreement, on the first day any such payments or benefits may be made without incurring additional tax
pursuant to Section 409A, the Company shall make such payments and provide such benefits as provided for in this Agreement. For
purposes of this Section 19, the terms “Specified Employee” and “Separation from Service” shall
have the meanings ascribed to them in Section 409A. Further, to the extent that any amount is a 409A Payment and such payment is
conditioned upon Executive’s execution of a release and which is to be paid or provided during a designated period that begins
in one taxable year and ends in a second taxable year, then such payment shall be paid or provided in the later of the two taxable
years.

 

    	 	16	 

     

    

 

20. Indemnification.
Upon consummation of the HCAC Transaction, Executive and the Company shall enter into an indemnification agreement in the form
previously agreed by the parties and from and after such date Executive shall be entitled to the protections afforded in such indemnification
agreement.

 

21. Section
280G of the Code. In the event that any payments, distributions, benefits or entitlements of any type payable to
Executive, whether or not payable upon a termination of employment (“Payments”), (i) constitute
“parachute payments” within the meaning of Section 280G of the Code, and (ii) but for this Section 21
would be subject to the excise tax imposed by Section 4999 of the Code (the “Excise Tax”), then the
Payments shall be reduced to such lesser amount (the “Reduced Amount”) that would result in no portion of
the Payments being subject to the Excise Tax; provided, however, that such Payments shall not be so reduced if
a nationally recognized accounting firm selected by the Company in good faith (the “Accountants”)
determines that without such reduction Executive would be entitled to receive and retain, on a net after-tax basis (including
any excise taxes payable under Section 4999 of the Code, federal, state and local income taxes, social security and Medicare
taxes and all other applicable taxes, determined by applying the highest marginal rate under Section 1 of the Code and under
state and local tax laws which applied (or is likely to apply) to Executive’s taxable income for the tax year in which
the transaction which causes the application of Section 280G of the Code occurs, or such other rate(s) as the Accountants
determine to be likely to apply to Executive in the relevant tax year(s) in which any of the Payments are expected to be
made), an amount that is greater than the amount, on a net after-tax basis, that Executive would be entitled to retain upon
receipt of the Reduced Amount. Unless the Company and Executive otherwise agree in writing, any determination required under
this Section 21 shall be made in good faith by the Accountants in a timely manner and shall be binding on the
parties absent manifest error. In the event of a reduction of Payments hereunder, the Payments shall be reduced in the order
determined by the Accountants that results in the greatest economic benefit to Executive in a manner that would not result in
subjecting Executive to additional taxation under Section 409A. For purposes of making the calculations required by this Section
21, the Accountants may make reasonable assumptions and approximations concerning applicable taxes and may rely on
reasonable, good faith interpretations concerning the application of the Code, and other applicable legal authority. The
Company and Executive shall furnish to the Accountants such information and documents as the Accountants may reasonably
require in order to make a determination under this Section 21, and the Company shall bear the cost of all fees
charged by the Accountants in connection with any calculations contemplated by this Section 21. To the extent
requested by Executive, the Company shall cooperate with Executive in good faith in valuing, and the Accountants shall value,
services to be provided by Executive (including Executive refraining from performing services pursuant to a covenant not to
compete) before, on or after the date of the transaction which causes the application of Section 280G of the Code such that
Payments in respect of such services may be considered to be “reasonable compensation” within the meaning of the
regulations under Section 280G of the Code. Notwithstanding the foregoing, if the transaction which causes the application of
Section 280G of the Code occurs at a time during which the Company qualifies under Section 2(a)(i) of Q&A-6 of Treasury
Regulation Section 1.280G, upon the request of Executive, the Company shall use reasonable efforts to obtain the vote of
equity holders described in Q&A-7 of Treasury Regulation Section 1.280G. If a reduced payment or benefit is made or
provided and through error or otherwise that payment or benefit, when aggregated with other payments and benefits from the
Company or any of its affiliates used in determining if a “parachute payment” exists, exceeds one dollar ($1.00)
less than three times Executive’s base amount, then Executive shall immediately repay such excess to the Company upon
notification that an overpayment has been made. Nothing in this Section 21 shall require the Company to be responsible
for, or have any liability or obligation with respect to, Executive’s excise tax liabilities under Section 4999 of the
Code.

 

22. Clawback.
To the extent required by applicable law, any applicable securities exchange listing standards or any clawback policy
adopted by the Company, the annual bonus and any incentive compensation granted to Executive (whether under this Agreement or
otherwise) shall be subject to the provisions of any applicable clawback policies or procedures, which clawback policies or
procedures may provide for forfeiture and/or recoupment of such amounts paid or payable under this Agreement or
otherwise.

 

[SIGNATURES ON FOLLOWING PAGE]

 

    	 	17	 

     

    

 

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

 

	 	NRC Group Holdings, LLC
	 	 
	 	By:	/s/ David Rattner
	 		Name: David Rattner
	 		Title: Secretary

 

	 	/s/ Joseph Peterson
	 	Joseph Peterson

 

    	 	18Exhibit 10.6

 

Sprint Energy Services, LLC

950 Echo Lane, Suite 357

Houston, Texas 77024 

 

August 29, 2016

 

Robert V. Nelson III

2190 Briarglen Drive

Houston, Texas 77027

 

Dear Robby,

 

We are pleased to confirm and memorialize
our agreement with you as Chief Operating Officer (“COO”) of Sprint Energy Services, LLC (the “Company”),
as follows:

 

		1.	Offices and Duties; Transition; Term

 

You shall serve as the COO of
the Company during the Term (as defined below) and shall devote your full business time and attention and best efforts to the performance
of your duties as the COO of the Company consistent with past practice and as is customary and reasonable for such position; provided
that you shall be permitted to continue to devote time to and engage in the Permitted Activities without breaching or otherwise
violating any provision of this letter agreement.

 

The Company is managed by its
sole member, SES Holdco, LLC. Unless the Board of Managers of SES Holdco, LLC (the “Board”) shall otherwise
direct, you shall report to the Chief Executive Officer of the Company. Capitalized terms used and not defined herein shall have
the meanings ascribed to such terms in the Third Amended and Restated Limited Liability Company Agreement of JFL-SES Partners,
LLC, a Delaware limited liability company, or its successors or assigns (“JFL-SES”), as may be amended or otherwise
modified from time to time.

 

The term of this letter agreement
shall be the period commencing on the date hereof and ending on such date as your employment with the Company terminates for any
reason (the “Term”). Notwithstanding anything herein to the contrary, you will be an employee of the Company
and you or the Company may terminate your employment with the Company for any reason or no reason at any time, subject to the terms
and conditions set forth herein.

 

		2.	Compensation

 

During the Term, you will be
entitled to receive the following:

 

		(a)	Annual Base Salary: Your annual salary compensation as COO of the Company will be $240,000
(the “Annual Base Salary”). The Annual Base Salary shall be paid in conformance with the Company’s regular
payroll practices and dates for salaried personnel and shall be subject to annual review, at the discretion of the Compensation
Committee of the Board (the “Compensation Committee”).

 

     

     

    

 

		(b)	Annual Bonus: Commencing in calendar year 2016 and pro rata for term worked, as COO of the
Company, you shall be entitled to receive an annual cash bonus (“Annual Bonus”) based on a target percentage
of your Annual Base Salary (“Target Percentage”) in accordance with the bonus plan set by the Compensation Committee.
Your initial Target Percentage will be 50%. The bonus plan is described in Exhibit A.

 

		(c)	Employee Benefit Plans: As COO of the Company, you shall be entitled to participate in,
to the extent you are otherwise eligible under the terms thereof and subject to applicable required employee contributions, the
Company’s benefit plans offered to all employees.

 

		(d)	Expense Reimbursement: The Company will reimburse you for all reasonable, documented business
expenses incurred by you in the course of performing your duties for the Company.

 

		(e)	Performance Payment: Upon the achievement of the ROICR thresholds set forth in the table
below by JFL Equity Investors III, L.P., its Affiliates or related holding companies or vehicles, other than JFL-SES and its Subsidiaries
and their respective successors and assigns (the “JFL Parties”), subject to the vesting and forfeiture terms
contained herein, you will be paid the performance payments corresponding to each ROICR (“Performance Payment”):

 

	 	ROICR	 	Performance Payment
	 	 	 	 
	 	1.0x to 2.0x	 	2.0% of distributions made to the unitholders of JFL-SES in excess of 1.0x ROICR and up to and including 2.0x
	 	 	 	 
	 	Over 2.0x to 2.5x	 	2.25% of distributions made to the unitholders of JFL-SES in excess of 2.0x ROICR and up to and including 2.5x
	 	 	 	 
	 	Over 2.5x to 3.0x	 	2.5% of distributions made to the unitholders of JFL-SES in excess of 2.50x ROICR and up to and including 3.0x
	 	 	 	 
	 	Over to 3.0x	 	3.0% of distributions made to the unitholders of JFL-SES in excess of 3.0x ROICR

 

		(f)	Entire Compensation: The compensation provided for in this Section II shall be the full
consideration for the services to be rendered by you to the Company and its affiliates hereunder, and, except as otherwise provided
herein, under any subsequent written agreement between you and the Company or under the terms of any plan or policy applicable
to you, you shall have no right to receive any other compensation from the Company, or to participate in any other plan, arrangement
or benefit provided by the Company, with respect to any future period after any termination or resignation.

 

    	 	2	 

     

    

 

		(g)	Definitions.

 

		(i)	“Cause” shall mean: (a) your willful misconduct, fraud, usurpation of business
opportunity or gross negligence; (b) your failure to materially adhere to the policies of JFL-SES, the Company or any Affiliate
or Subsidiary thereof or to materially perform assigned duties (other than any such failure resulting from incapacity due to your
Disability); (c) a material breach by you of this letter agreement or in any other written agreement between you and the Company
or any Affiliate or Subsidiary thereof; (d) the commitment of an act of dishonesty or breach of trust or fiduciary duty; or (e)
the conviction of or entering of a guilty plea or a plea of no contest with respect to (i) a felony, (ii) any crime involving fraud,
larceny or embezzlement or (iii) any other crime involving moral turpitude.

 

		(ii)	“Fair Market Value” means, with respect to a Performance Payment, the fair market
value of the Company as determined by the Manager in good faith in its sole discretion (giving effect to the distribution priorities
set forth in the LLC Agreement).

 

		(iii)	“Good Reason” means (a) a material breach by JFL-SES, the Company or any Affiliate
or Subsidiary thereof, as applicable, of this letter agreement or any other written agreement between any such entity or you, (b)
JFL-SES’ or the Company’s assignment of you, without your consent, to a position, responsibilities, authority or duties
of a materially lesser status or degree of responsibility than your then-current position, responsibilities, authority or duties;
(c) a reduction of your Annual Base Salary by at least 25% of your then-current Annual Base Salary or (d) you have been required
to take actions that are illegal. Notwithstanding the preceding sentence, Good Reason shall only occur if you notify the Company
within 30 days of the event causing Good Reason, and the Company does not cure such event causing Good Reason within 30 days after
receiving such notice; provided that no such notice obligation, time period or cure right shall apply to the foregoing subclause
(d).

 

		(iv)	“Permitted Activities” means activities related to your service on the board
of directors of Sanchez Energy Corporation.

 

		(v)	“ROICR” means, at the time at which it is calculated, an amount equal to (a)
the aggregate distributions directly attributable to the Company received by the JFL Parties from JFL-SES divided by (b)
the aggregate amount of capital contributions made by the JFL Parties to JFL-SES.

 

		(vi)	“Sale of the Company” shall have the meaning ascribed to it in the LLC Agreement.

 

		(vii)	“Termination Event” means the termination your employment with the Company or
any of its Affiliates or Subsidiaries or your death or Disability.

 

    	 	3	 

     

    

 

		(h)	Vesting.

 

		(i)	You may be required to forfeit or liquidate all or a portion of your entitlement to certain Performance
Payments upon the occurrence of certain events described in this letter agreement in accordance with the vesting, forfeiture and
liquidation provisions set forth herein. Except as otherwise provided in this Section 2(h), seventy-five percent (75%) of
the unvested Performance Payments will become Vested Performance Payments under this letter agreement and shall carry all of the
rights conferred on Vested Performance Payments under this letter agreement as follows: on each of the first three (3) anniversaries
of the date hereof (each, a “Vesting Date”), an incremental twenty-five percent (25%) of the unvested Performance
Payments will become vested Performance Payments (“Vested Performance Payments”) on each Vesting Date so long
as you have continuously remained employed by the Company or its Affiliates from the date hereof through such Vesting Date and
an event which constitutes Cause has not occurred with respect to you.

 

		(ii)	Notwithstanding anything to the contrary in this letter agreement or this letter agreement, (A)
all unvested Performance Payments that have not previously become Vested Performance Payments according to the terms of Section
2(h)(ii) will fully vest upon the occurrence of a Sale of the Company; provided that you have continuously remained employed
by the Company or its Affiliates from the date hereof through such Vesting Date and an event which constitutes Cause has not occurred
with respect to you.

 

		(i)	Forfeiture and Purchase of Performance Payments.

 

		(i)	If an event which constitutes Cause occurs with respect to you during your period of employment
or if you resign as an employee of the Company without Good Reason, then on the earlier of the date of such Cause event or Termination
Event, as applicable, you shall be deemed to have immediately forfeited to the Company without consideration all of your entitlement
to receive Performance Payments, whether vested or unvested, and all rights arising from such Performance Payments, without further
action required by the Company.

 

		(ii)	If a Termination Event occurs due to the Company’s termination of your employment or your
termination of your employment for Good Reason and an event which constitutes Cause has not occurred with respect to you as of
or prior to the time of such Termination Event, then (i) after giving effect to any applicable provision of Section 2(h)(ii),
on the date of such Termination Event, you shall forfeit to the Company without consideration all of your entitlement to receive
unvested Performance Payments and your entitlement to receive Performance Payments shall be proportionately reduced by such forfeited
amount and (ii) an Exercising Party (as defined below) will have the option (but not the obligation) to liquidate any or all of
your Vested Performance Payments at Fair Market Value, which option shall be exercisable, subject to the terms of Section 2(h)(iv),
at any time within ninety (90) days after such Termination Event.

 

    	 	4	 

     

    

 

		(iii)	Any of the JFL Parties (an “Exercising Party”) shall, for a period of ninety
(90) days following the date of the applicable Termination Event, have the right to require you to liquidate all of your entitlement
to receive unforfeited Performance Payments (a “Liquidated Performance Payment”) at a price equal to the Fair
Market Value of such Liquidated Performance Payment (the “Liquidation Price”) in accordance with the terms of
this Section 2(h).

 

		(iv)	Procedures. If such Exercising Party desires to exercise its right to liquidate all of the
Liquidated Performance Payment pursuant to this Section 2(h), such Exercising Party shall deliver to you a written notice
(the “Liquidation Notice”) specifying the amount of Liquidated Performance Payments to be liquidated by such
Exercising Party and the price therefor in accordance with Section 2(h).

 

		(v)	Timing. The consummation of any liquidation of Liquidated Performance Payments pursuant
to this Section 2(h) shall take place on the later to occur of the 10th day following the date the Exercising
Party delivers the Liquidation Notice or the 10th day after the Fair Market Value of the Liquidated Performance Payment
is finally determined pursuant to Section 2(h). The applicable Exercising Party shall pay the Liquidation Price to you.
Such Exercising Party shall give you at least five (5) days’ written notice of the date of closing, which notice shall include
the method of payment selected by such Exercising Person.

 

		(vi)	Fair Market Value. The Liquidation Price shall be the Fair Market Value of the Liquidated
Performance Payment, as determined by the Board as of the date of the Liquidation Notice.

 

		(vii)	Cooperation. You shall take all actions as may be reasonably necessary to consummate the
liquidation contemplated by this Section 2(h), including, without limitation, entering into agreements and delivering certificates
and instruments and consents as may be deemed necessary or appropriate.

 

		(viii)	Consummation. Following your receipt of the full Liquidation Price in connection with any
liquidation under this Section 2(h), you shall deliver to the Company a written acknowledgement of your receipt thereof
and of the reduction of your entitlement to performance payments based on the liquidation of the applicable Liquidated Performance
Payments.

 

		(ix)	Payments with respect to the Performance Payments shall be paid concurrently with the applicable
payments of the Unitholders under the LLC Agreement to the degree the ROICR thresholds have been met.

 

    	 	5	 

     

    

 

		3.	Withholding

 

All payments to be made to you
under this letter agreement will be subject to required income and payroll tax withholdings and other legally required or customary
deductions, all of which shall be consistent with the policies and practices of the Company.

 

		4.	Non-disclosure; Non-solicitation; Non-disparagement

 

You and the Company recognize
that, due to the nature of your employment and relationship with the Company, you have had and will have access to and have developed
and will develop confidential business information, proprietary information, and trade secrets relating to the business and operations
of the Company and its Affiliates. “Affiliate” has the meaning set forth in Rule 12b2 of the regulations promulgated
under the Securities Exchange Act of 1934, as amended. You acknowledge that such information is valuable to the business of the
Company and its Affiliates, and that disclosure to, or use for the benefit of, any person or entity other than the Company or its
Affiliates, could cause substantial damage to the Company and its Affiliates. You further acknowledge that your duties for the
Company include the duty to develop and maintain client, customer, employee, and other business relationships on behalf of the
Company and its Affiliates. In recognition that the goodwill and business relationships described herein are assets of the Company
and its Affiliates and that loss of or damage to those relationships would destroy or diminish the value of the Company and its
Affiliates, you agree as follows:

 

		(a)	Confidential Information:

 

		(i)	You shall at all times maintain the confidentiality of Confidential Information of the Company
and its Affiliates, and shall not disclose any such information to any third person, nor shall you use Confidential Information
for any purpose except for the benefit of the Company and its Affiliates. “Confidential Information” shall mean
the following with respect to the Company and its Affiliates: trade secret information; client or customer lists, including their
identities, contacts, business and financial needs and information; pricing information; survey information; computer software,
passwords, programs, data or other information; marketing plans, projections and presentations; financial and budget information;
and all other business related information which has not been publicly disclosed by the Company or its Affiliates. The restrictions
contained in this provision shall apply regardless of whether such Confidential Information is in written, graphic, recorded, photographic
or any machine readable form or is orally conveyed to, or memorized by, you.

 

		(ii)	Your duty of confidentiality with regard to the Confidential Information shall not extend to: (A)
any Confidential Information that, at the time of disclosure, had been previously published and was part of the public domain;
(B) any Confidential Information that is published after disclosure, unless such publication is a breach of this letter agreement
by you; and (C) any Confidential Information that is obtained by you other than in connection with the performance of your duties
hereunder from a third person who: (x) is lawfully in possession of that Confidential Information; (y) is not in violation of any
contractual, legal, or fiduciary obligation to the Company or its Affiliates with respect to the Confidential Information; and
(z) does not prohibit you from disclosing the Confidential Information to others.

 

    	 	6	 

     

    

 

		(iii)	In the event that you are requested or required (by oral questions, interrogatories, requests for
information or documents, subpoena or other process or legal obligation) to disclose any Confidential Information (including the
terms of this letter agreement), you agree to: (A) give prompt written notice to the Company and its Affiliates of such request
or subpoena in order to allow the Company or its Affiliates an opportunity to seek an appropriate protective order or to waive
compliance with the provisions of this letter agreement; and (B) cooperate with the Company and its Affiliates and with counsel
for the Company and its Affiliates in responding to such request or subpoena as provided below. If the Company or its Affiliates
fail to obtain a protective order and does not waive its rights to confidential treatment under this letter agreement, you may
disclose only that portion of any Confidential Information which your counsel reasonably advises is compelled to disclose pursuant
to law. You further agree that in no event will you oppose action by the Company or its Affiliates to obtain an appropriate protective
order or other reliable promises that confidential treatment will be accorded to the Confidential Information.

 

		(b)	Confidentiality and Surrender of Records: Without the prior written consent of the Company,
you shall not, at any time, except as required by law, publish, make known or in any fashion disclose any Confidential Records
to, or permit any inspection or copying of Confidential Records by, any individual or entity other than in the course of such individual’s
or entity’s employment by or contract with the Company or its Affiliates. For purposes hereof, “Confidential Records”
means those portions of correspondence, memoranda, files, manuals, books, lists, financial, operating or marketing records, magnetic
tape, or electronic or other media or equipment of any kind in your possession or under your control or accessible to you which
contain any Confidential Information. All Confidential Records shall be and remain the sole property of the Company and its Affiliates.

 

		(c)	Non-solicitation: During the Term of this letter agreement and for a period of twelve (12)
months after termination of your employment hereunder for any reason, including without limitation the expiration of this letter
agreement, you shall not, and you shall not permit and shall cause your Affiliates not to, engage in any of the following activities,
either directly or indirectly (individually, or through or on behalf of another entity, as owner, partner, agent, employee, consultant,
or in any other capacity) hire, solicit, encourage, or engage in any activity to induce any employee of the Company or its affiliates
to terminate his or her employment with the Company or its affiliates, or to become employed by, or to enter into a business relationship
with, any other Person; provided, however, that the foregoing restriction shall not include general solicitations of employment
or hiring of persons responding to general solicitations of employment (including general advertising via periodicals, the Internet
and other media) not specifically directed towards employees of the Company or its affiliates. For purposes of this provision,
the term “employee” includes any individual who is an employee, agent of or consultant to the Company or its affiliates
during the twelve (12) month period prior to the date your employment is terminated.

 

    	 	7	 

     

    

 

		(d)	Non-disparagement: No party shall not at any time disparage in any material respect the
other party, any Affiliate thereof, any of their respective businesses, any of their respective officers, managers, members, directors
or employees, or the reputation of any of the foregoing persons or entities.

 

		(e)	No Other Obligations: You represent that you are not precluded or limited in your ability
to undertake or perform the duties described herein by any contract, agreement or restrictive covenant. You covenant that you shall
not employ the trade secrets or proprietary information of any other person or entity in connection with your employment by the
Company.

 

		(f)	Enforcement: You acknowledge and agree that, by virtue of your position, services and access
to and use of Confidential Records and Confidential Information, any violation by you of any of the undertakings contained in this
Section 4 could cause the Company or its Affiliates immediate, substantial and irreparable injury for which the Company
or its Affiliates have no adequate remedy at law. Accordingly, you agree and consent to the entry of an injunction or other equitable
relief by a court of competent jurisdiction restraining any violation or threatened violation of any undertaking contained in this
Section 4. Rights and remedies provided for in this Section 4 are cumulative and shall be in addition to rights and
remedies otherwise available to the Company and its Affiliates hereunder or under any other agreement or applicable law.

 

		(g)	Survival and Independent Covenants: The provisions of this Section 4 shall survive
the termination of your employment with the Company. The covenants of this Section 4 shall be enforceable regardless of
(i) the reason for your termination, (ii) any breach of this letter agreement by the Company, or (iii) whether you have a claim
against the Company or any Affiliate thereof based on this letter agreement or otherwise to the fullest extent permitted by applicable
law.

 

		(h)	Cooperation with Regard to Litigation: Except to the extent that you have or intend to assert
in good faith an interest or position adverse to or inconsistent with the interest or position of the Company or its Affiliates,
you agree to cooperate reasonably with the Company and its Affiliates, during the term of this letter agreement and thereafter
(including following your termination of employment for any reason), by making yourself available to testify on behalf of the Company
or its Affiliates in any action, suit, or proceeding, whether civil, criminal, administrative, or investigative, and to assist
the Company or its Affiliates in any such action, suit, or proceeding, by providing information and meeting and consulting with
the Company, its Affiliates or their respective representatives or counsel, or representatives or counsel to the Company or its
Affiliates, in each case, as reasonably requested by the Company or its Affiliates. The Company shall reimburse your out-of-pocket
expenses incurred in connection with your cooperation, travel or other performance undertaken pursuant to this Section 4(h).

 

    	 	8	 

     

    

 

		5.	Severance

 

		(a)	Termination in the Absence of an Event Which Constitutes Cause or Upon Resignation for Good
Reason. If your employment shall be terminated by the Company in the absence of an event which constitutes Cause or if you
shall terminate due to your resignation for Good Reason, then, subject to you signing a customary release of claims on or following
the date of the applicable Termination Event, you shall receive:

 

		(i)	a cash amount equal to one times your Annual Base Salary as of the date of the applicable Termination
Event payable over the next 12 months consistent with current payroll practices.

 

		(b)	Survival. The expiration or termination of this letter agreement shall not impair the rights
or obligations of any Party hereto, which shall have accrued on or prior to such expiration or termination.

 

		(i)	Notwithstanding any other provision of this letter agreement, no severance payments shall be made
unless you incur a “separation from service” within the meaning of Treasury Regulation Section 1-409A-1(h).

 

		6.	Miscellaneous

 

		(a)	Governing Law: This letter agreement is made under, and shall be construed and enforced
in accordance with, the law of the State of Texas, applicable to agreements made and to be performed solely therein, without giving
effect to principles of conflicts of law.

 

		(b)	Venue: In any action between or among any of you and the Company or its Affiliates arising
out of this letter agreement (i) each of you and the Company and its Affiliates irrevocably consents to the exclusive jurisdiction
and venue of the federal and state courts located in Harris County, Texas, (ii) if any such action is commenced in a state court,
then, subject to applicable law, no party hereto shall object to the removal of such action to any federal court located in Harris
County, Texas, (iii) each of you and the Company and its Affiliates irrevocably agrees to designate a service company located in
the United States as its agent for service of process and consents to service of process by first class certified mail, return
receipt requested, postage prepaid, to the address at which such party is located, and (iv) the prevailing parties shall be entitled
to recover their reasonable attorneys’ fees, costs and disbursements from the other parties (in addition to any other relief
to which the prevailing parties may be entitled).

 

    	 	9	 

     

    

 

		(c)	Waiver of a Jury Trial: You and the Company and its Affiliates herby waive any right to
trial by jury in any action or proceeding arising out of or relating to this letter agreement, whether now existing or hereafter
arising, and whether sounding in contract, tort or otherwise. You and the Company and its Affiliates agree that either may file
a copy of this paragraph with any court as written evidence of the knowing, voluntary and bargained-for agreement irrevocably to
waive trial by jury and that any action or proceeding whatsoever relating to this letter agreement shall instead be tried in a
court of competent jurisdiction by a judge sitting without a jury.

 

		(d)	Binding Agreement: This letter agreement and all rights and obligations hereunder shall
inure to the benefit of and be enforceable by the parties and their personal or legal representatives, executors, administrators,
successors, heirs, distributes, devisees and legatees and assigns.

 

		(e)	Notices: All notices and other communications hereunder shall be in writing and shall be
deemed given if delivered personally (notice deemed given upon receipt), emailed (notice deemed given upon confirmation of receipt)
or sent by a nationally recognized overnight courier service, such as Federal Express (notice deemed given upon delivery), to the
parties at the following addresses (or at such other address for a party as shall be specified by like notice):

 

		If to you:	To your home address as listed in Company records at
the time notice is given;

 

		If to the Company:	To its corporate headquarters at the time notice of given;
or to such other address as the parties may furnish to each other in writing.

 

		(f)	Modification: No provision of this letter agreement may be modified, waived or discharged
unless such waiver, modification or discharge is in writing signed by the parties hereto.

 

		(g)	Severability: The invalidity or unenforceability of any provision or provisions of this
letter agreement shall not affect the validity or enforceability of any other provision of this letter agreement; and, in the event
that any one or more of the words, phrases, sentences, clauses, provisions, sections or articles contained in this letter agreement
shall be declared invalid, this letter agreement shall be construed as if such invalid word or words, phrase or phrases, sentence
or sentences, clause or clauses, provision or provisions, section or sections or article or articles had not been inserted and
the remainder of this letter agreement shall remain in full force and effect.

 

		(h)	Counterparts: This letter agreement may be executed in one or more counterparts, each of
which shall be deemed to be an original but all of which together will constitute one and the same instrument. A photocopy or electronic
transmission (including .pdf format) of this letter agreement or of any signature hereon shall be deemed and original for all purposes.

 

[Signature Page Follows]

 

    	 	10	 

     

    

 

This letter agreement
supersedes any prior understandings, agreements, letters, or representations by or among the parties with respect to your employment
by the Company or any Affiliate thereof, whether written or oral, to the extent they are related in any way to the subject matter
hereof.

 

	Sincerely,	 
	 	 
	Sprint Energy Services, LLC	 
	 	 	 	 
	By:	/s/ David Rattner	 
	 	Name:	David Rattner	 
	 	Title:	Secretary	 

 

	 	Agreed:
	 	 
	 	/s/ Robert V. Nelson III
	 	Robert V. Nelson III
	 	Date:	08/29/16

 

    	 	11	 

     

    

 

Exhibit A

 

Your Annual Bonus for each calendar year
will be set by the Compensation Committee and will be based upon attaining the annual budget targets set by the Board, as determined
by the Compensation Committee in its sole discretion. Your Annual Bonus is contingent upon your continued employment with the Company
at the time of payment.

 

The Annual Bonus may be earned as follows:
(i) 70% of the Target Percentage will be earned based on achieving target EBITDA performance, and (ii) 30% of the Target Percentage
will be earned based on achieving target free cash flow (defined as cash generated excluding any financing activities – e.g.,
the borrowing or repayment of debt). EBITDA and free cash flow will be determined based upon the audited financial results of the
Company. The figures below outline the scale that will be used to develop your Base Annual Bonus.

 

	Drivers	 	 	0	%
	EBITDA	 	 	70	%
	Free Cash Flow	 		30	%
	Total	 	 	100	%

 

	Range for EBITDA and Free Cash Flow
	 	 	Payout of Target Percentage	 
	< 90% of Target =	 	 	0	%
	90% of Target =	 	 	75	%
	100% of Target =	 	 	100	%
	125% of Target =	 	 	150	%
	> 125% of Target =	 	 	150	%

 

Payouts
between 90% and 100% performance and between 100% and 150% performance will be linear.

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