Document:

Confidential Separation Agreement and General Release of Claims

 

 
  
 Exhibit 10.36 
  
 CONFIDENTIAL SEPARATION AND RELEASE AGREEMENT 
  
 This Separation and Release Agreement (the “Agreement”) is
entered into by and between Todd Davis (the “Executive”) and Brio Software, Inc., a Delaware corporation (the “Company”). 
  
 WHEREAS, Mr. Davis is employed by the Company; and 
  
 WHEREAS, the Company and Mr. Davis have mutually agreed to terminate the employment relationship and to release each other from any claims arising from or
related to the employment relationship. 
  
 NOW, THEREFORE, in
consideration of the mutual promises made herein, the Company and Mr. Davis hereby agree as follows: 
  
 1. Executive’s employment with the Company ends effective as of March 31, 2003 (the “Termination Date”). 
  
 2. The Company shall provide Executive with the following benefits provided
Executive executes and returns this Agreement to the Company within twenty-one (21) days following his receipt of this Agreement, and provided further that Executive does not revoke this Agreement, the Company agrees to provide the following
severance benefits to Executive: 
  
 (a) Severance
Payments. Severance benefit equal to continuation of Executive’s base pay for a one year (12 month) period equal to Executive’s base pay rate of $22,916.66 per month, less applicable withholding; such payments will be made in
accordance with the Company’s normal payroll procedures; and 
  
 (b) COBRA Reimbursement. Provided the Executive makes a timely and accurate election for continuation health insurance coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”), the Company
shall pay on the Executive’s behalf for the applicable premiums for himself (and his eligible dependents, as applicable) for the first twelve (12) months following the Termination Date; thereafter, the Executive shall be eligible to continue
the COBRA benefits at his own expense in accordance with the Company’s policy and applicable law; and 
  
 (c) Acceleration of Vesting: The Company shall accelerate the vesting of Option No’s. 3124, 3125, and 3847 (collectively, the
“Accelerated Options”), such that, for each Option, and additional number of share of stock equal to the number in which the Executive would have vested under such option if his service continued for an additional twelve (12) months
shall immediately vest as of the Termination Date. 

 (d) Current Rights. As of the Termination Date, Executive holds the employee stock option
described below, subject to the terms of the 1998 Stock Option Plan and the applicable form of stock option agreement entered into between Executive and the Company (as referenced below and throughout this Agreement as “Option No”).
Executive has an extension until December 31, 2003 to exercise options granted in the 1998 Stock Option Plan. Except as set forth herein, Executive acknowledges that he has no right, title or interest in or to any shares of the Company’s
capital stock under any arrangement or agreement (oral or written) with the Company or any other party. 
  

	 Option
 No.

	 	 Plan

	 	 Grant Date

	 	 Shares
 Granted

	 	 Shares Purchased as
 of Termination Date

	 	 Shares Vested
 as of Termination
Date

	 	 Shares to be
Accelerated
pursuant to Section
6(A)(iii)

	 3124
	 	1998	 	12/7/2001	 	238,980	 	0	 	128,848	 	59,745
	 3125
	 	1998	 	12/7/2001	 	86,020	 	0	 	26,881	 	21,505
	 3847
	 	1998	 	12/31/2001	 	20,000	 	0	 	6,250	 	5,000
	 	 	 	 	 	 	
	 	 	 	
	 	

	 	 	 	 	 	 	345,000	 	 	 	161,979	 	86,250

  
 The Company and Executive acknowledge
that Executive will be paid all wages, commissions, and accrued unused paid time off (PTO) that Executive earned during his employment with the Company. Executive understands and acknowledges that he shall not be entitled to any payments or benefits
from the Company other than those expressly set forth in this paragraph 2. 
  
 3. The Company shall reimburse Executive for all reasonable business expenses incurred by Executive through the Termination Date, provided that the Executive has delivered an itemized account and appropriate
supporting documentation to the Company on or before May 15, 2003 for such expenses, all in accordance with the Company’s generally applicable policies. Parties acknowledge executive has scheduled meetings throughout the United States scheduled
though April 18, 2003 and Executive will submit and be reimbursed for reasonable expenses on or before May 15, 2003. 
  

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 4. Executive and his successors release the Company and its shareholders, investors, directors, officers,
Executives, agents, attorneys, insurers, legal successors and assigns of and from any and all claims, actions and causes of action, whether now known or unknown, which Executive now has, or at any other time had, or shall or may have against the
released parties based upon or arising out of any matter, cause, fact, thing, act or omission whatsoever occurring or existing at any time up to and including the date on which this Agreement becomes effective, including, but not limited to, any
claims of breach of contract, wrongful termination, retaliation, fraud, defamation, infliction of emotional distress or national origin, race, age, sex, sexual orientation, disability or other discrimination or harassment under the Civil Rights Act
of 1964, the Age Discrimination In Employment Act of 1967, the Americans with Disabilities Act, the Fair Employment and Housing Act or any other applicable law. This release does not include Executive’s pending Workers’ Compensation claim.
Company and its shareholders, investors, directors, officers, Executives, agents, attorneys, insurers, legal successors and assigns release Executive from any and all claims, actions and causes of action, whether now known or unknown, which Company
now has, or at any other time had, or shall or may have against the Executive based upon or arising out of any matter, cause, fact, thing, act or omission whatsoever occurring or existing at any time up to and including the date on which this
Agreement becomes effective with the exception of intentional wrongdoings. 
  
 5. Executive acknowledges that he has read section 1542 of the Civil Code of the State of California, which states in full: 
  
 A general release does not extend to claims which the creditor does not know or suspect to exist in his favor at the time of executing the release, which
if known by him must have materially affected his settlement with the debtor. 
  
 Executive waives any rights that he has or may have under section 1542 or any similar provisions of the laws of any other jurisdiction, including Minnesota, to the full extent that he may lawfully waive such rights pertaining to this
general release of claims, and affirms that he is releasing all known and unknown claims that he has or may have against the parties listed above. 
  
 6. Executive acknowledges and agrees that he shall continue to be bound by and comply with the terms of any proprietary rights or confidentiality
agreements between the Company and Executive. 
  
 7. Executive
agrees that he shall not directly or indirectly disclose any of the terms of this Agreement to anyone other than his immediate family or counsel, except as such disclosure may be required for accounting or tax reporting purposes or as otherwise may
be required by law. Executive, the Company and its officers agree that they will not, at any time in the future, make any critical or disparaging statements about the other, the Company’s products or its employees, unless such statements are
made truthfully in response to a subpoena or other legal process. It is agreed that to fix the damages of any breach of this confidentiality and mutual non-disparagement agreement is extremely impractical and that $10,000.00 is a reasonable estimate
of damages on each such event on a per occurrence basis. 
  

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 8. Executive agrees that for a period of 12 months following the Termination Date, he will not, on behalf
of himself or any other person or entity, directly or indirectly solicit any employee of the Company to terminate his employment with the Company. 
  
 9. Executive acknowledges and agrees that for a period of twelve (12) months following the Termination Date he will not provide services to any competitor
of the Company who engages in the business of analytical applications, analytical tools, query and reporting tools, dashboard building and delivery and business intelligence software including but not limited, to the following companies: Cognos
Inc., Business Objects, Viador, Actuate, Crystal, MicroStratagies, Informatica, Alphablox, E.piphany, Hyperion Solutions, Hummingbird and Plumtree. 
  
 10. In the event of any legal action relating to or arising out of this Agreement, the prevailing party shall be entitled to recover from the losing party
its attorneys’ fees and costs incurred in that action. 
  
 11. Successors 
  
 (a) Company’s Successors. This
Agreement shall be binding upon any successor (whether direct or indirect and whether by purchase, lease, merger, consolidation, liquidation or otherwise) to all or substantially all of the Company’s business and or assets. For all purposes
under this Agreement the term “Company” shall include and successor to the Company’s business and/or assets which becomes bound by this Agreement. 
  
 (b) Executive’s Successors. This Agreement and all rights of the Executive hereunder shall inure to the benefit of, and
be enforceable by, the Executive’s personal or legal representatives, executors, administrators, successors, heirs, distributes, devisees and legatees. 
  
 12. If any provision of this Agreement is deemed invalid, illegal or unenforceable, such provision shall be modified so as to make it valid, legal and
enforceable, and the validity, legality and enforceability of the remaining provisions of this Agreement shall not in any way be affected. 
  
 13. The Executive has entered into the Company’s standard form of Indemnification Agreement, and has been registered for coverage under the terms of
the Company’s directors and officers liability insurance policy with regard to acts or events that occurred during his employment as an officer of the Company. The Executive and the Company acknowledge and agree that the provisions of the
Indemnification Agreement shall survive any termination of Executive’s employment relationship with the Company, and that nothing in this Agreement, including but not limited to the Release in Section 4 above, shall prevent the Executive from
exercising his rights under either the Indemnification Agreement or the directors and officers liability insurance policy. 
  
 14. This Agreement constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior negotiations
and agreements, whether written or oral, with the exception of any agreements described in paragraphs 2(d) and 6. This Agreement may not be modified or amended except by a document signed by an authorized officer of the Company and Executive.

  

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 14. Governing Law. This Agreement shall in all respects be governed by the laws of the State of
California, without reference to its principles of conflicts of laws. The parties hereby agree that all disputes arising out of this Agreement shall be subject to the exclusive jurisdiction of and venue of the federal court situated within San Jose,
California. Licensee hereby consents to the personal and exclusive jurisdiction and venue of such court. In the event a legal proceeding is initiated by either party, THE PARTIES HEREBY AGREE TO WAIVE A TRIAL BY JURY. 
  
 EXECUTIVE UNDERSTANDS THAT HE SHOULD CONSULT WITH AN ATTORNEY PRIOR TO SIGNING THIS
AGREEMENT AND THAT HE IS GIVING UP ANY LEGAL CLAIMS HE HAS AGAINST THE PARTIES RELEASED ABOVE BY SIGNING THIS AGREEMENT. EXECUTIVE FURTHER UNDERSTANDS THAT HE MAY HAVE UP TO 21 DAYS TO CONSIDER THIS AGREEMENT, THAT HE MAY REVOKE IT AT ANY TIME
DURING THE 7 DAYS AFTER HE SIGNS IT, AND THAT IT SHALL NOT BECOME EFFECTIVE UNTIL THAT 7-DAY PERIOD HAS PASSED. EXECUTIVE ACKNOWLEDGES THAT HE IS SIGNING THIS AGREEMENT KNOWINGLY, WILLINGLY AND VOLUNTARILY IN EXCHANGE FOR THE COMPENSATION AND
BENEFITS DESCRIBED IN PARAGRAPH 2. 
  

	 Dated:  April 4, 2003
	 	 	  	 /S/    TODD
DAVIS        

	 	 	 	  	 Todd Davis

			
	 	 	 	  	 Brio Software, Inc.

			
	 Dated:  April 4, 2003
	 	 	  	 By:                /S/    NANCY
RAAB        

	 	 	 	  	         Nancy Raab, VP Human Resources

  

 5THIRD AMENDMENT TO THE LOAN AND SECURITY AGREEMENT

 Exhibit 4.24C 
  
 THIRD AMENDMENT TO LOAN AND SECURITY AGREEMENT 
  
 This Third Amendment to Loan and Security Agreement (the “Third Amendment”) is made as of August 8, 2003 by and
between CONGRESS FINANCIAL CORPORATION (NEW ENGLAND), a Massachusetts corporation as agent for itself and the other Lenders (“Agent”), CLEAN HARBORS, INC., a Massachusetts corporation (“Parent”), Clean Harbors Canada, Inc., a New
Brunswick corporation, Clean Harbors Mercier, Inc., a Quebec corporation, Clean Harbors Quebec, Inc., a Quebec corporation and 510127 N.B. Inc., a New Brunswick corporation (collectively, the “Canadian Borrowers”), the other Subsidiaries
of the Parent from time to time a party to the Loan Agreement, as defined below (each together with Parent and Canadian Borrowers, a “Borrower” and, collectively, “Borrowers”) and each of the Lenders listed on the signature page
hereof (the “Lenders”). 
  
 WHEREAS, the Agent, Lenders
and Borrowers entered into that certain Loan and Security Agreement, dated as of September 6, 2002 as amended by a First Amendment to Loan and Security Agreement dated as of January 22, 2003 and a Second Amendment to Loan and Security Agreement
dated as of May 20, 2003 (the “Loan Agreement”); 
  
 WHEREAS, the Borrowers have advised the Agent that the Borrowers may be in default of Sections 9.17 and 9.18 of the Loan Agreement, each, for the period ending June 30, 2003 and have requested that the Agent and Lenders waive such defaults,
if any, and amend certain provisions of the Loan Agreement; and 
  
 WHEREAS, the Agent and Lenders have agreed to waive the Borrowers’ noncompliance with Sections 9.17 and 9.18 of the Loan Agreement, if any, each, for the period ending June 30, 2003 and to revise certain provisions of the Loan
Agreement, in each case, subject to the terms and conditions hereof. 
  
 NOW, THEREFORE, based on these premises, and in consideration of the mutual promises contained herein and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged by the parties, the Borrowers,
the Agent and the Lenders hereby agree as follows: 
  
 1.
Capitalized Terms. All capitalized terms not otherwise defined herein shall have the meanings given such terms in the Loan Agreement. 
  
 2. Amendments to Loan Agreement. 
  
 2.1. Definition of Consolidated Net Income. The definition of “Consolidated Net Income” set forth in Section 1.42 of the
Loan Agreement hereby is amended by deleting the word “and” from the end of subsection (d) thereof and by adding the following to the end of such definition (before the period): 
  
 “, (f) accretion expense attributable to environmental liabilities
provided that (1) such expense is non-cash and (2) such expense is determined on a consolidated basis in accordance with GAAP and (g) non-cash gains or losses reflecting adjustments to the estimated value of the embedded derivative associated with
the 

  

 1 

 
Parent’s outstanding Series C convertible preferred stock provided that such gains or losses are reflected as non-cash gains or losses on the
Borrowers’ cash flow statements audited (in the case of the annual financial statements) by the Borrowers’ certified public accountant. Notwithstanding the foregoing, the Agent may, in its discretion and at the concurrence of the Majority
Lenders, permit the Borrowers to exclude Non-Recurring Severance Costs from the determination of Consolidated Net Income (without duplication). For the purposes of calculating Consolidated Net Income, “Non-Recurring Severance Costs” shall
mean non-recurring severance costs incurred by the Borrowers during the second half of 2003 and 2004.” 
  
 2.2. Definition of Eligible Accounts. Subsection (q) of the definition of Eligible Accounts hereby is amended by deleting
“and” after “;” and the following is added to the end of subsection (r) of the definition of Eligible Accounts (before the period): 
  
 “; and 
  
 (s) any Accounts (i) from account debtors for whom the Borrowers’ engaged subcontractors to provide services (“Sub
Services”) and (ii) against which such subcontractors may impose a lien to secure payment for Sub Services rendered, provided that the amount of such Accounts which are included in Eligible Accounts shall be reduced by any then unpaid amounts
due by the Borrowers to such subcontractors.” 
  
 2.3. Definition of Environmental Expenditures. The following Section 1.53A hereby is added to the Loan Agreement: 
  
 “1.53A ‘Environmental Expenditures’ shall mean with respect to any Person for any period, the sum of the aggregate of all
expenditures by such Person and its Subsidiaries for spending incurred with respect to remedial liabilities, including but not limited to, superfund, remediation, facility closure remediation, and discontinued operation liabilities.”

  
 2.4. Definition of Fixed Charge Coverage
Ratio. The definition of Fixed Charge Coverage Ratio set forth in Section 1.71 of the Loan Agreement is deleted in its entirety and replaced with the following: 
  
 “1.71 ‘Fixed Charge Coverage Ratio’ shall mean with respect to any Person for any period, the ratio of
(i) Consolidated EBITDA of such Person and its Subsidiaries for such period, to (ii) the sum of, without duplication, (A) all principal of Indebtedness of such Person and its Subsidiaries paid or prepaid (with the exception of prepayments made to
the Term Loan Lenders from the proceeds of the sale of Term Loan Collateral (as defined in the Intercreditor Agreement dated September 6, 2002 by and between Agent, Term Loan Agent and Term Loan Lenders) (other than the Revolving Loan Priority
Collateral) in accordance 

  

 2 

 
with the Loan Agreement) during such period, plus (B) Consolidated Cash Interest Expense of such Person and its Subsidiaries for such period,
plus (C) income taxes paid or payable by such Person and its Subsidiaries during such period, plus (D) cash dividends or distributions paid by such Person and its Subsidiaries (other than, in the case of any Borrower, dividends or
distributions paid by such Borrower to any other Borrower) during such period, plus (E) unfinanced Capital Expenditures made by such Person and its Subsidiaries during such period and plus (F) Environmental Expenditures made by such Person
and its Subsidiaries during such period.” 
  
 2.5. Definition of Interest Rate. Effective on August 1, 2003, the definition of “Interest Rate” set forth in Section 1.83 to the Loan Agreement is deleted in its entirety and replaced with the following: 
  
 “1.83 ‘Interest Rate’ shall mean, as to US Prime Rate
Loans, a rate equal to one half percent (.50%) per annum in excess of the US Prime Rate, as to Canadian Prime Rate Loans, a rate equal to one half percent (.50%) per annum in excess of the Canadian Prime Rate and as to Eurodollar Rate Loans, a rate
of three and one half percent (3.50%) per annum in excess of the Adjusted Eurodollar Rate (based on the Eurodollar Rate applicable for the Interest Period selected by Borrowers as in effect three (3) Business Days after the date of receipt by Agent
of the request of Borrowers for such Eurodollar Rate Loans in accordance with the terms hereof, whether such rate is higher or lower than any rate previously quoted to Borrowers); provided, that, upon receipt by the Agent and Lenders of the
Borrowers’ financial statements complying with Section 9.6(a) hereof demonstrating that the Borrowers have maintained a Fixed Charge Coverage Ratio of at least 1:1 for at least three (3) consecutive quarters, the Interest Rate shall mean, as to
US Prime Rate Loans, a per annum rate equal to one quarter of one percent (.25%) per annum in excess of the US Prime Rate, as to Canadian Prime Rate Loans, a per annum rate equal to one quarter of one percent (.25%) per annum in excess of the
Canadian Prime Rate and as to Eurodollar Rate Loans, a rate of three and one quarter percent (3.25%) per annum in excess of the Adjusted Eurodollar Rate (based on the Eurodollar Rate applicable for the Interest Period selected by Borrowers as in
effect three (3) Business Days after the receipt by Agent of the request of Borrowers for such Eurodollar Rate Loans in accordance with the terms hereof, whether such rate is higher or lower than any rate previously quoted to Borrowers); provided,
further, that, notwithstanding anything to the contrary contained herein, the Interest Rate shall mean the rate of two and one half (2.50%) percent per annum in excess of the rate then applicable as to Prime Rate Loans and the rate of five and one
half (5.50%) percent per annum in excess of the rate then applicable as to Eurodollar Rate Loans, at Agent’s option (or as directed by the Majority Lenders), without notice, (a) either (i) for the period on and after the date of termination or
non-renewal hereof until such time as all Obligations are indefeasibly paid and satisfied in full in immediately available funds, or (ii) for the period from and after the date of the occurrence of any Event of Default, and for so long as such Event
of Default is continuing as determined by Agent and (b) on the Revolving Loans at any time 

  

 3 

 
outstanding in excess of the amounts available to Borrowers under Section 2 (whether or not such excess(es) arise or are made with or without Agent’s
knowledge or consent and whether made before or after an Event of Default).” 
  
 2.6. Amendment of Section 9.17. Section 9.17 of the Loan Agreement is deleted in its entirety and replaced with the following:

  
 “9.17 Consolidated EBITDA. Borrowers shall not
permit Consolidated EBITDA of the Parent and its Subsidiaries to be less than the amount set forth below for the period corresponding thereto. 
  

	 Period

	  	Consolidated EBITDA

	 
	 For the quarter ending on September 30, 2003
	  	$	15,700,000	 
		
	 Cumulative for the two consecutive quarters ending on December 31, 2003
	  	$	32,250,000	 
		
	 Cumulative for the three consecutive quarters ending on March 31, 2004
	  	$	43,675,000	 
		
	 Cumulative for the four consecutive quarters ending on June 30, 2004
	  	$	59,500,000	 
		
	 Cumulative for the four consecutive quarters ending on September 30, 2004
	  	$	61,700,000	 
		
	 Cumulative for the four consecutive quarters ending on December 31, 2004
	  	$	64,600,000	 
		
	 Cumulative for the four consecutive quarters ending on March 31, 2005
	  	$	66,600,000	 
		
	 Cumulative for the four consecutive quarters ending on June 30, 2005
	  	$	68,600,000	”

  
 2.7.
Amendment of Section 9.18. Section 9.18 of the Loan Agreement is deleted in its entirety and replaced with the following: 
  
 “9.18 Fixed Charge Coverage Ratio. Borrowers shall not permit the Fixed Charge Coverage Ratio of the Parent and its Subsidiaries to be less
than the amount set forth below for the period corresponding thereto. 
  

 4 

	 Period

	  	Ratio

	 For the quarter ending on September 30, 2003
	  	0.85:1
		
	 Cumulative for the two consecutive quarters ending on December 31, 2003
	  	0.90:1
		
	 Cumulative for the three consecutive quarters ending on March 31, 2004
	  	0.95:1
		
	 Cumulative for the four consecutive quarters ending on June 30, 2004
	  	1:1
		
	 Cumulative for the four consecutive quarters ending on September 30, 2004
	  	1:1
		
	 Cumulative for the four consecutive quarters ending on December 31, 2004
	  	1:1
		
	 Cumulative for the four consecutive quarters ending on March 31, 2005
	  	1.1:1
		
	Cumulative for the four consecutive quarters ending (i) on June 30, 2005 and (ii) on the last day of each quarter thereafter.	  	1.2:1”

  
 2.8.
Excess Availability Covenant. The following Section 9.18A hereby is added to the Loan Agreement: 
  
 “9.18A Excess Availability. Notwithstanding any other provisions set forth herein or in the other Financing Agreements, Excess Availability
under the US Borrowing Base shall at all times not be less than the US Dollar Equivalent of $7,000,000, including, without limitation, after giving effect to any Loans made or to be made and Letter of Credit Accommodations issued or to be issued in
accordance with the provisions hereof.” 
  
 3.
Waiver. Pursuant to the request of the Borrowers, the Agent and Lenders hereby waive the Borrowers’ noncompliance with Sections 9.17 and 9.18 of the Loan Agreement, if any, 

  

 5 

 
each, for the period ending June 30, 2003. This waiver is and shall be effective solely for the specific instance and purpose described herein and is not and
shall not be applicable to any other provision of the Loan Agreement and other Financing Agreements. 
  
 4. Amendment Fee. Borrowers shall pay to the Agent, in cash, for the ratable benefit of the Lenders, a $250,000 non-refundable amendment fee
(“Amendment Fee”). The Amendment Fee shall be fully earned and payable upon the execution of this Third Amendment by the Agent and Majority Lenders. 
  

5. Business Consultant. The Borrowers covenant and agree to engage a business consultant within thirty (30) days after Agent sends written
notice to Borrowers directing Borrowers to engage a business consultant (“Business Consultant”). The Business Consultant shall be chosen by the Borrowers and acceptable to Agent and Majority Lenders, in their sole discretion, and shall
have complete and full access at all times to management of the Borrowers and the books and records of the Borrowers in order to provide information and advice to the Borrowers regarding all aspects of the business, financial condition, operations,
and prospects of the Borrowers. The Borrowers hereby consent to the Agent contacting the Business Consultant directly and the Borrowers hereby agree that in no event shall such communication be denied or restricted. The Borrowers further agree that
they shall deliver copies to the Agent of any final written reports received by the Borrowers from the Business Consultant and any other written reports that the Agent may reasonably request. The Borrowers shall maintain the Business Consultant in
place for such period of time as the Agent directs in Agent’s sole discretion, 
  
 6. Representations and Warranties. Each Borrower jointly and severally represents and warrants to Agent and Lenders the following: 
  
 6.1. Organization and Qualification. Each of the Borrowers is duly incorporated or formed, validly
existing, and in good standing under the laws of their respective jurisdictions of incorporation or formation, as applicable. Each Borrower is duly qualified to do business and is in good standing as a foreign corporation or organization in all
states and jurisdictions in which the failure to be so qualified would have a material adverse effect on the financial condition, business or properties of such Borrower. 
  
 6.2. Power and Authority. Each Borrower is duly authorized and empowered to enter into, deliver, and
perform this Third Amendment. The execution, delivery, and performance of this Third Amendment has been duly authorized by all necessary corporate or other action of each of the Borrowers. The execution, delivery and performance of this Third
Amendment (i) are within each Borrower’s corporate, limited liability company, partnership or trust powers; (ii) is not in contravention of law or the terms of the charter or by-laws or other organizational documents of any of the Borrowers or
under any indenture, agreement or undertaking to which any Borrower is a party or by which such Borrower’s properties may be bound or affected; and (iii) will not result in, or require, the creation or imposition of any lien (other than the
liens set forth in Schedule 8.4 to the Loan Agreement) upon or with respect to any of the properties now owned or hereafter acquired by any Borrower. 
  

 6 

 6.3. Legally Enforceable Agreement. This Third Amendment is a legal, valid and
binding obligation of each Borrower enforceable against each Borrower in accordance with its terms. 
  
 6.4. No Defaults. Except as waived under Section 3 of this Third Amendment, no Default or Event of Default exists or has occurred
and is continuing. 
  
 7. Conditions. This Third Amendment
shall become effective upon satisfaction in full, in a manner satisfactory to the Agent, of each of the following conditions: 
  
 7.1. Documents. The Agent shall have received counterparts of this Third Amendment duly executed by the Borrowers and the Majority
Lenders. 
  
 7.2. Other Matters. All
representations and warranties of the Borrowers in the Loan Agreement and other Financing Agreements shall be true and correct as if made on the date hereof, and, except as waived under Section 3 of this Third Amendment, no Default or Event of
Default shall exist or shall have occurred and be continuing. 
  
 7.3. Amendment Fee. Borrowers shall have paid the Amendment Fee to Agent. 
  
 7.4. Extension to Post Closing Letter Agreement. The Agent shall have received the Extension to Post Closing Letter Agreement,
substantially similar to the form of Extension to Post Closing Letter Agreement attached hereto at Exhibit A, in form and substance satisfactory to Agent duly executed by the Borrowers. 
  
 8. Payment of Expenses. Without limiting the terms of the Financing
Agreements, the Borrowers shall pay all costs and expenses incurred by or on behalf of the Agent (including reasonable attorneys’ fees and expenses) arising under or in connection with this Third Amendment or the Financing Agreements, including
without limitation, in connection with (i) the negotiation, preparation, execution and delivery of this Third Amendment and the Financing Agreements, and any and all consents, waivers or other documents or instruments relating thereto, (ii) the
filing and recording of any Financing Agreements and any other documents or instruments or further assurances filed or recorded in connection with any Financing Agreements, (iii) any other action required in the course of administration hereof,
including, but not limited to, all fees and expenses arising out of any audits, appraisals, and inspections, and (iv) the defense or enforcement of the Financing Agreements, whether or not there is any litigation between the parties. All costs and
expenses shall be added to the Obligations, as the Agent shall determine, and shall earn interest at the highest rate set forth in the Financing Agreements. 
  
 9. Miscellaneous. The Borrowers confirm that the Loan Agreement and other Financing Agreements remain in full force and effect without amendment or
modification of any kind, except for as set forth in this Third Amendment. This Third Amendment shall be deemed to be a Financing Agreement and, together with the other Financing Agreements, constitute the entire agreement between the parties with
respect to the subject matter hereof and supersede all 

  

 7 

 
prior dealings, correspondence, conversations or communications between the parties with respect to the subject matter hereof. 
  
 [Remainder of page intentionally left blank.] 
  

 8 

 Signature page to Third Amendment to Loan Agreement 
  
 IN WITNESS WHEREOF, the Borrowers, the Agent and the Lenders have executed
this Third Amendment as of the date first above written, by their respective officers hereunto duly authorized, under seal. 
  

	 AGENT
	  	 BORROWERS

		
	CONGRESS FINANCIAL	  	CLEAN HARBORS, INC.
	CORPORATION (NEW ENGLAND)	  	ALTAIR DISPOSAL SERVICES, LLC
	 	  	BATON ROUGE DISPOSAL, LLC
	 By:                                      
                                        
          
	  	BRIDGEPORT DISPOSAL, LLC
	 Title:                                     
                                        
        
	  	CLEAN HARBORS ANDOVER, LLC
	 	  	CLEAN HARBORS ANTIOCH, LLC
	 	  	CLEAN HARBORS ARAGONITE, LLC
	 	  	CLEAN HARBORS ARIZONA, LLC
	 	  	CLEAN HARBORS OF BALTIMORE, INC.
	 	  	CLEAN HARBORS BATON ROUGE, LLC
	 	  	CLEAN HARBORS BDT, LLC
	 	  	CLEAN HARBORS BUTTONWILLOW, LLC
	 	  	CLEAN HARBORS CHATTANOOGA, LLC
	 	  	CHEMICAL SALES, LLC
	 	  	CLEAN HARBORS COFFEYVILLE, LLC
	 	  	CLEAN HARBORS COLFAX, LLC
	 	  	CLEAN HARBORS DEER PARK, L.P.
	 	  	CLEAN HARBORS DEER TRAIL, LLC
	 	  	CLEAN HARBORS DISPOSAL SERVICES, INC.
	 	  	CLEAN HARBORS FINANCIAL SERVICES COMPANY
	 	  	CLEAN HARBORS FLORIDA, LLC
	 	  	CLEAN HARBORS GRASSY MOUNTAIN, LLC
	 	  	CLEAN HARBORS KANSAS, LLC
	 	  	CLEAN HARBORS LAPORTE, L.P.
	 	  	CLEAN HARBORS LAUREL, LLC
	 	  	CLEAN HARBORS LONE MOUNTAIN, LLC
	 	  	CLEAN HARBOR LOAN STAR CORP.
	 	  	CLEAN HARBORS LOS ANGELES, LLC
	 	  	CLEAN HARBORS OF TEXAS, LLC
	 	  	CLEAN HARBORS PECATONICA, LLC
	 	  	CLEAN HARBORS PLAQUEMINE, LLC
	 	  	CLEAN HARBORS PPM, LLC
	 	  	CLEAN HARBORS REIDSVILLE, LLC
	 	  	CLEAN HARBORS SAN JOSE, LLC
	 	  	CLEAN HARBORS TENNESSEE, LLC
	 	  	CLEAN HARBORS WESTMORLAND, LLC
	 	  	CLEAN HARBORS WHITE CASTLE, LLC
	 	  	CROWLEY DISPOSAL, LLC

  

 9 

 Signature page to Third Amendment to Loan Agreement 
  

	DISPOSAL PROPERTIES, LLC
	GSX DISPOSAL, LLC
	HARBOR MANAGEMENT CONSULTANTS, INC.
	HARBOR INDUSTRIAL SERVICES TEXAS, L.P.
	HILLIARD DISPOSAL, LLC
	ROEBUCK DISPOSAL, LLC
	SAWYER DISPOSAL SERVICES, LLC
	TULSA DISPOSAL, LLC
	CLEAN HARBORS ENVIRONMENTAL SERVICES, INC
	CLEAN HARBORS OF BRAINTREE, INC.
	CLEAN HARBORS OF NATICK, INC.
	CLEAN HARBORS SERVICES, INC.
	MURPHY’S WASTE OIL SERVICE INC.
	CLEAN HARBORS KINGSTON FACILITY CORPORATION
	CLEAN HARBORS OF CONNECTICUT, INC.
	SPRING GROVE RESOURCE RECOVERY, INC.
	CLEAN HARBORS CANADA, INC.
	CLEAN HARBORS QUEBEC, INC.
	CLEAN HARBORS MERCIER, INC.
	510127 N.B. INC.
		
	 By:
	 	  

	 Title:
	 	  

  

 10 

 Signature page to Third Amendment to Loan Agreement 
  

	 LENDERS

	
	CONGRESS FINANCIAL CORPORATION (NEW ENGLAND)
		
	 By:
	 	  

	 Title:
	 	  

	
	ORIX FINANCIAL SERVICES, INC.
		
	 By:
	 	  

	 Title:
	 	  

	
	BANKNORTH, N.A.
		
	 By:
	 	  

	 Title:
	 	  

	
	SOVEREIGN BANK
		
	 By:
	 	  

	 Title:
	 	  

	
	FLEET CAPITAL CORPORATION
		
	 By:
	 	  

	 Title:
	 	  

	
	CONGRESS FINANCIAL CORPORATION (CANADA)
		
	 By:
	 	  

	 Title:
	 	  

  

 11

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