Document:

EX-10.7

 Exhibit 10.7 

FIRST AMENDMENT TO CREDIT AGREEMENT 

This FIRST AMENDMENT TO CREDIT AGREEMENT, dated as of April 27, 2018 (this “Amendment”), is entered into by and
among CHARAH, LLC, a Kentucky limited liability company (“Charah”), ALLIED POWER MANAGEMENT, LLC, a Delaware limited liability company (“Allied” and together with Charah, each a “Borrower”, and
collectively, the “Borrowers”), CHARAH SOLE MEMBER LLC, a Delaware limited liability company (“Charah Parent”), ALLIED POWER SOLE MEMBER, LLC, a Delaware limited liability company (“Allied Parent”
and together with Charah Parent, each a “Parent”, and collectively, “Parents”), each of the other GUARANTORS party hereto, each of the LENDERS party hereto and CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH, as
Administrative Agent and as Collateral Agent. Capitalized terms used herein and not otherwise defined herein shall have the meanings assigned to them in the Credit Agreement referred to below. 

RECITALS 

WHEREAS, the parties hereto are party to that certain Credit Agreement, dated as of October 25, 2017 (as amended, amended and
restated, supplemented or otherwise modified prior to the date hereof, he “Credit Agreement”, and as amended by this Amendment, the “Amended Credit Agreement”); 

WHEREAS, the Borrowers have requested that the Administrative Agent, the Collateral Agent and the Lenders agree to amend certain
provisions of the Credit Agreement as provided in this Amendment; and 
 WHEREAS, subject to the terms and conditions of this
Amendment, the Administrative Agent, the Collateral Agent and Lenders constituting at least Required Lenders are willing to agree to such amendments to the Credit Agreement. 

NOW, THEREFORE, in consideration of the premises and the agreements, provisions and covenants herein contained, and for other good and
valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows: 

Section 1. AMENDMENT TO CREDIT AGREEMENT 

Subject to the terms and conditions set forth in this Amendment, the Credit Agreement is hereby amended as follows: 

1.1 Section 4.1(a) of the Credit Agreement is hereby amended and restated in its entirety as follows: 

“(a) not later than 90 days after the end of each Fiscal Year (120 days with respect to the Fiscal Year ending
December 31, 2017), a copy of the audited combined balance sheet of the Borrowers and their respective Subsidiaries (or, if applicable, the audited consolidated balance sheet of any Parent Entity and its Subsidiaries or of Combined Entity and
its Subsidiaries, as the case may be) as at the end of such Fiscal Year and the related combined (or consolidated, as the case may be) statements of income or operations, shareholders’ equity and cash flows for such Fiscal Year, setting forth
in each case for each Fiscal Year in comparative form the figures for the previous Fiscal Year, and accompanied by (w) prior to an Initial Public Offering, a breakdown, in a form reasonably satisfactory to the Agent, of Charah and its
Subsidiaries, on the one hand, and Allied and its Subsidiaries, on the other hand, (x) (if applicable) the adjustments necessary to eliminate the accounts of Unrestricted Subsidiaries (if any) from such combined (or consolidated, as the case
may be) financial statements, (y) the report of Deloitte & Touche LLP or another 

 
independent certified public accounting firm of recognized national standing, which report shall (i) contain an opinion stating that such financial statements present fairly in all material
respects the financial condition as of the dates and for the periods indicated and in accordance with GAAP, and (ii) not include any qualification expressing substantial doubt as to going concern status (except to the extent such qualification
is due to (A) the scheduled maturity date or the scheduled termination date of the Initial Loans or (B) any prospective default under Section 6.1 or any financial covenant under the ABL Credit Agreement) and
(z) management’s discussion and analysis of significant operational and financial developments during such Fiscal Year and a “key performance indicator” report with such content as may be mutually agreed by the Agent and the
Borrowers (or Parent Entity or Combined Entity, as the case may be) including a breakdown by revenues and assets (including business segment (i.e., as of the First Amendment Effective Date, the Borrowers’ environmental solutions and maintenance
and technical services business segments) detail);”. 
 1.2 Section 4.1(b) of the Credit Agreement is hereby amended and
restated in its entirety as follows: 
 “(b) not later than 45 days after the end of the first three Fiscal Quarters of
each Fiscal Year (60 days with respect to the Fiscal Quarter ending September 30, 2017), a copy of the internally prepared unaudited combined balance sheet of the Borrowers and their respective Subsidiaries (or, if applicable, the audited
consolidated balance sheet of any Parent Entity and its Subsidiaries or of any Combined Entity and its Subsidiaries, as the case may be) and the related combined (or consolidated, as the case may be) statements of income and cash flows as of the end
of such Fiscal Quarter and for the portion of the Fiscal Year then ended, accompanied by (x) prior to an Initial Public Offering, a breakdown, in a form reasonably satisfactory to the Agent, of Charah and its Subsidiaries, on the one hand, and
Allied and its Subsidiaries, on the other hand, (y) (if applicable) the adjustments necessary to eliminate the accounts of Unrestricted Subsidiaries (if any) from such combined (or consolidated, as the case may be) financial statements, all
certified on behalf of each Borrower and its Subsidiaries by a Responsible Officer of each Borrower as fairly presenting, in all material respects, in accordance with GAAP, the financial condition and results of operations of each Borrower and its
Subsidiaries, subject to normal year-end adjustments and absence of footnote disclosures and (z) management’s discussion and analysis of significant operational and financial developments during such quarterly period and a “key
performance indicator” report with such content as may be mutually agreed by the Agent and the applicable Borrower (or Parent Entity or Combined Entity, as the case may be) including a breakdown by revenues and assets (including business
segment (i.e., as of the First Amendment Effective Date, the Borrowers’ environmental solutions and maintenance and technical services business segments) detail);”. 

1.3 Section 4.1 of the Credit Agreement is hereby amended by inserting the following at the end of the section thereof as follows:

 “Notwithstanding the foregoing in this Section 4.1, the obligations in Section 4.1(a) and
Section 4.1(b) may be satisfied with respect to financial information of each Borrower and its respective Subsidiaries by furnishing Parent Entity’s or Combined Entity’s Form 10-K or Form 10-Q, as applicable, filed with
the SEC; provided that (i) such filings must include all information required to be delivered as set forth in Sections 4.1(a)(x), (y) and (z) or Sections 4.1(b)(y) and (z), as applicable, and
(ii) to the extent such information is in lieu of information required to be provided under Section 4.1(a), such materials are accompanied by a report and opinion from Deloitte & Touche LLP or another independent certified
public accounting firm of recognized national standing, which report shall (I) contain an opinion stating that such consolidated financial statements present fairly in all material respects the financial condition as of the dates and for the
periods indicated and in accordance with GAAP, and (II) not include any qualification expressing 

  
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substantial doubt as to going concern status (except to the extent such qualification is due to (A) the scheduled maturity date or the scheduled termination date of the Initial Loans or
(B) any prospective default under Section 6.1 or any financial covenant under the ABL Credit Agreement) to the effect that such consolidated financial statements present fairly in all material respects the financial condition and
results of operations and cash flows of a Parent Entity and its Subsidiaries or, as the case may be, a Combined Entity and its Subsidiaries as of the end of and for such year on a consolidated basis in accordance with GAAP consistently applied;
provided further that, to the extent that the business activities, properties or liabilities of a Parent Entity or a Combined Entity, as the case may be, changes in any material respect (in the reasonable good faith judgment of the Borrowers
determined in consultation with the Agent) from the business, activities, properties and liabilities of such Parent Entity or of such Combined Entity on the First Amendment Effective Date or include other material activities, properties or
liabilities other than those relating to the ownership of Parents, the Borrowers and their respective Subsidiaries, the Administrative Agent or the Required Lenders may, upon written notice to Charah (in its capacity as the administrative borrower
pursuant to Section 1.13(d)), require that the Credit Parties provide, as the case may be, the financial statements, audit opinions, comparative figures, Compliance Certificate, budgets, projections and other documents and information
described in Sections 4.1(a), 4.1(b), 4.2(a), 4.2(b) and 4.2(d) for or of each Borrower (and not for or of Parent Entity or Combined Entity) no later than, (x) in the case of the financial statements and audit
opinion described in Section 4.1(a), the related comparisons pursuant to Section 4.2(a) and the related Compliance Certificate pursuant to Section 4.2(b), the later to occur of (I) the date on which such
financial statements or other deliverables are otherwise required to be delivered pursuant to Section 4.1(a), 4.2(a) or 4.2(b), as applicable, and (II) the date that is 90 days after delivery of such notice to Charah and,
in each case for the avoidance of doubt, for all successive fiscal years or other period, as applicable, for which financial statements or such other documents or information shall be required to be delivered pursuant to this Agreement, and
(y) in the case of the financial statements, other documents or information described in Sections 4.1(b), the related comparisons pursuant to Section 4.2(a), the related Compliance Certificate pursuant to
Section 4.2(b) and the other deliverables pursuant to Section 4.2(d), the later to occur of (I) the date on which such financial statements or such other documents or information are otherwise required to be delivered
pursuant to Section 4.1(b), 4.2(a), 4.2(b) or 4.2(d), as applicable, and (II) the date that is 30 days after delivery of such notice to Charah and, for the avoidance of doubt, for all successive periods, as
applicable, for which financial statements or such other documents or information shall be required to be delivered pursuant to this Agreement. 

The financial statements required to be delivered pursuant to Sections 4.1(a) and 4.1(b) may be delivered
electronically and if so delivered, shall be deemed to have been delivered on the date (i) on which a Parent Entity, a Combined Entity or Charah posts such documents, or provides a link thereto on Charah’s website on the Internet; or
(ii) on which such documents are posted on Parent Entity’s, Combined Entity’s or the Borrowers’ behalf on a Platform; provided that, Parent Entity, Combined Entity or Charah shall have notified the Agent in writing (which
may be by facsimile or electronic mail) of the posting of such documents and shall have furnished to the Agent by electronic mail electronic versions (i.e., soft copies) of such documents.”. 

1.4 Section 4.1(c) of the Credit Agreement is hereby amended and restated in its entirety as follows: 

“(c) commencing with respect to the fiscal quarter ending December 31, 2017, the Borrowers shall conduct a quarterly
conference call that the Lenders may attend to discuss the financial condition and results of operations of each Borrower and its Restricted Subsidiaries for the most recently ended fiscal quarter for which financial statements have been, or will
be, delivered pursuant to Section 4.1(b), at a date and time to be reasonably determined by the Borrowers and 

  
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the Agent; provided that the obligations in this Section 4.1(c) may be satisfied by holding a quarterly conference call that the Lenders may attend to discuss the financial
condition and results of operations of any Parent Entity or Combined Entity, as applicable.”. 
 1.5 Section 4.2(a) of the
Credit Agreement is hereby amended and restated in its entirety as follows: 
 “(a) commencing with the Fiscal Quarter
ending June 30, 2017, together with each delivery of financial statements pursuant to Sections 4.1(a) and 4.1(b), comparisons with the corresponding figures (which may, for the avoidance of doubt, be with respect to a Parent
Entity or Combined Entity, as applicable) for the previous Fiscal Year;”. 
 1.6 Section 4.2(b) of the Credit Agreement is
hereby amended and restated in its entirety as follows: 
 “(b) commencing with the Fiscal Quarter ending June 30,
2017, concurrently with the delivery of the financial statements referred to in Sections 4.1(a) and 4.1(b) above, a duly completed certificate substantially in the form of Exhibit 4.2(b) (a “Compliance Certificate”),
modified, in necessary, to account for delivery of financial statements and information with respect to a Parent Entity or a Combined Entity, and certified on behalf of Parents, the Borrowers and their Subsidiaries by a Responsible Officer of each
Borrower;”. 
 1.7 Section 4.2(d) of the Credit Agreement is hereby amended and restated in its entirety as follows: 

“(d) not later than 90 days after the last day of each Fiscal Year of each Borrower (120 days with respect to the Fiscal
Year ending December 31, 2017), an annual budget and projections of each Borrower (or Parent Entity or Combined Entity, as applicable) and its Restricted Subsidiaries’ consolidated financial performance for the then-current Fiscal Year on
a quarter-by-quarter basis;”. 
 1.8 Section 4.2(f) of the Credit Agreement is hereby amended and restated in its entirety
as follows: 
 “(f) (i) promptly following the Agent’s written request therefor, solely to the extent readily
available to the Credit Parties (or Parent Entity or Combined Entity, as applicable), such additional financial information related to this Section 4.2 or Section 4.3 regarding the Credit Parties (or Parent Entity or Combined Entity, as
applicable) as the Agent may from time to time reasonably request; provided that the Credit Parties shall not be obligated to provide such information to the extent such disclosure, would, in the good faith determination of the Credit
Parties, violate attorney-client privilege or applicable confidentiality requirements, constitutes attorney work product or trade secrets or proprietary information or otherwise prohibited by law or fiduciary duty from disclosing, and
(ii) promptly following the Agent’s or any Lender’s written request therefor, all documentation and other information with respect to Parent Entity or Combined Entity (as applicable) that is required by regulatory authorities under
applicable “know your customer” and anti-money laundering rules and regulations, including the Patriot Act;”. 
 1.9
Section 12.1 is hereby revised by: 
 (a) inserting the following new definitions in the appropriate alphabetical
order therein: 

  
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 “Combined Entity” means any Parent Entity (if applicable),
the Borrowers and their respective Subsidiaries on a “combined” or “consolidated” basis. 

“First Amendment” means that certain First Amendment to Credit Agreement, dated as of April 27, 2018, by
and among the Borrowers, Parents, the Guarantors party thereto, the Lenders party thereto and the Agent. 
 “First
Amendment Effective Date” has the meaning assigned to such term in the First Amendment. 
 “Parent
Entity” means any Person that is a direct or indirect parent company (which may or may not be organized as a partnership) of each Borrower. 

(b) amending and restating each of the following definitions set forth below as follows: 

“Combined EBITDA” means, with respect to the Borrowers and their Restricted Subsidiaries for any period, the
sum of the Consolidated EBITDA of Charah and its Restricted Subsidiaries for such period and the Consolidated EBITDA of Allied and its Restricted Subsidiaries for such period. Notwithstanding anything to the contrary contained herein, (a) for
purposes of determining Combined EBITDA under this Agreement for any period that includes the Fiscal Quarters ended December 31, 2016, March 31, 2017, June 30, 2017 and September 30, 2017, Combined EBITDA for such
Fiscal Quarter shall be $15,321,980, $12,077,417, $17,260,157 and $23,793,420, respectively, subject to adjustments pursuant to clauses (a)(xii) and (a)(xiii) of the definition of “Consolidated EBITDA” and (b) with respect to any
periods for which financial statements of a Parent Entity and its Restricted Subsidiaries or Combined Entity and its Restricted Subsidiaries, as the case may be, are delivered pursuant to the last two paragraphs of Section 4.1, “Combined
EBITDA” shall be defined as Consolidated EBITDA of such Parent Entity and its Restricted Subsidiaries or such Combined Entity and its Restricted Subsidiaries, as the case may be, for such period. 

“Combined Net Income” means, with respect to the Borrowers for any period, the sum of the Consolidated Net
Income of Charah and its Restricted Subsidiaries for such period and the Consolidated Net Income of Allied and its Restricted Subsidiaries for such period. Notwithstanding anything to the contrary contained herein, with respect to any periods for
which financial statements of a Parent Entity and its Restricted Subsidiaries or Combined Entity and its Restricted Subsidiaries, as the case may be, are delivered pursuant to the last two paragraphs of Section 4.1, “Combined Net
Income” shall be defined as Consolidated Net Income such Parent Entity and its Restricted Subsidiaries or such Combined Entity and its Restricted Subsidiaries, as the case may be, for such period. 

“Combined Senior Secured Net Leverage Ratio” means, with respect to the Borrowers and their respective
Restricted Subsidiaries (or Parent Entity and its Restricted Subsidiaries or Combined Entity and its Restricted Subsidiaries, as applicable) as of any date, the ratio of (a) the sum of (i) Consolidated Senior Secured Net Debt of Charah and
its Restricted Subsidiaries as of such date plus (ii) Consolidated Senior Secured Net Debt of Allied and its Restricted Subsidiaries as of such date (or, as applicable, Consolidated Senior Secured Net Debt of a Parent Entity and its Restricted
Subsidiaries or Combined Entity and its Restricted Subsidiaries, as the case may be, as of such date) to (b) Combined EBITDA for the last period of four consecutive fiscal quarters ending on or before such date for which financial statements
have been delivered. 

  
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 “Combined Total Net Leverage Ratio” means, with respect to
the Borrowers and their respective Restricted Subsidiaries (or Parent Entity and its Restricted Subsidiaries or Combined Entity and its Restricted Subsidiaries, as applicable) as of any date, the ratio of (a) the sum of (i) Consolidated
Total Net Debt of Charah and its Restricted Subsidiaries as of such date plus (ii) Consolidated Total Net Debt of Allied and its Restricted Subsidiaries as of such date (or, as applicable, Consolidated Total Net Debt of Parent Entity and its
Restricted Subsidiaries or Combined Entity and its Restricted Subsidiaries, as the case may be, as of such date) to (b) Combined EBITDA for the last period of four consecutive fiscal quarters ending on or before such date for which financial
statements have been delivered. 
 Section 2. EXECUTION OF THIS AMENDMENT; AUTHORIZATION 

This Amendment is executed and shall be construed as a supplement to the Credit Agreement, and forms a part of the Credit Agreement. By its
signature on this Amendment, each Lender party hereto (a) authorizes and consents to this Amendment and the transactions contemplated hereby and (b) authorizes and directs the Administrative Agent and the Collateral Agent to execute and
deliver this Amendment. 
 Section 3. REPRESENTATIONS AND WARRANTIES 

In order to induce the Administrative Agent, the Collateral Agent and each Lender party hereto to enter into this Amendment, each of the
Borrowers, Parents and each other Credit Party represents and warrants to the Administrative Agent, the Collateral Agent and each Lender, as of the First Amendment Effective Date (as defined below), as follows: 

3.1 Corporate Existence and Power. Each Credit Party and each of their respective Restricted Subsidiaries (a) is a
corporation, company, limited liability company or limited partnership, as applicable, duly organized, validly existing and in good standing, in each case, under the laws of the jurisdiction of its incorporation, organization or formation, as
applicable, (b) has the power and authority to own its assets, carry on its business, and execute and deliver this Amendment and perform its obligations under this Amendment and the Amended Credit Agreement, (c) is duly qualified as a
foreign corporation, company, limited liability company, partnership or limited partnership, as applicable, and licensed and in good standing (to the extent such concept is applicable in the applicable jurisdiction), under the laws of each
jurisdiction where its ownership, lease or operation of Property or the conduct of its business requires such qualification or license, and (d) is in compliance with all Requirements of Law, except, in each case referred to in clauses
(a) (in the case of Persons other than Parents and the Borrowers), (b), (c) and (d), to the extent that the failure to do so would not reasonably be expected to have, in the aggregate, a Material Adverse Effect. 

3.2 Corporate Authorization; No Contravention. The execution and delivery of this Amendment and performance by each of the Credit
Parties of this Amendment and the Amended Credit Agreement have been duly authorized by all necessary corporate action, and do not and will not (a) contravene the terms of any of that Person’s Organization Documents, (b) conflict with
or result in any material breach or contravention of any order, injunction, writ or decree of any Governmental Authority to which such Person or its Property is subject, except for conflicts, breaches or contraventions that would not reasonably be
expected to result in a Material Adverse Effect, (c) violate or result in a default under any indenture, instrument, agreement, or other document binding upon such Person or its property or to which any such Person or its property is subject,
or give rise to a right thereunder to require any payment to be made by any such Person, except to the extent such violation, default, or payment would not reasonably be expected to result in a Material Adverse Effect, (d) result in the
creation or imposition of any Lien on any property of any Credit Party, except Liens created by the Loan Documents and Permitted Liens securing any ABL Facility, or (e) violate any material Requirement of Law, except to the extent such
violation would not reasonably be expected to result in a Material Adverse Effect. 

  
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 3.3 Governmental and Third-Party Authorization. No approval, consent,
exemption, authorization or other action by, or notice to, or filing with, any Governmental Authority or other Person is or will be required as a condition to or otherwise in connection with the execution and delivery of this Amendment or
performance by, or enforcement against, any Credit Party of this Amendment or of the Amended Credit Agreement except for (i) recordings, registrations and filings in connection with the Liens granted to the Administrative Agent or the
Collateral Agent under the Collateral Documents, (ii) those obtained or made on or prior to the Closing Date, (iii) those required in the ordinary course of business, and (iv) those which, if not obtained or made, would not reasonably
be expected to have a Material Adverse Effect. 
 3.4 Binding Effect. Each of this Amendment and the Amended Credit Agreement
constitute the legal, valid and binding obligations of each Credit Party, enforceable against such Credit Party in accordance with their respective terms, except as enforceability may be limited by applicable bankruptcy, insolvency, reorganization,
moratorium or similar laws affecting the enforcement of creditors’ rights generally and subject to general principles of equity, regardless of whether considered in a proceeding in equity or at law. 

3.7 No Default or Event of Default; No Material Adverse Effect. No Default or Event of Default has occurred and is continuing or
would result from the transactions contemplated by this Amendment or the Amended Credit Agreement. Since December 31, 2016, there has been no Material Adverse Effect. 

3.8 Other Representations and Warranties. Both before and after giving effect to this Amendment, all representations and
warranties by the Credit Parties contained in the Amended Credit Agreement and the other Loan Documents are true and correct in all material respects (without duplication of any materiality or “Material Adverse Effect” qualifier contained
therein), except to the extent such representations and warranties expressly relate to an earlier date or period (in which case, such representations and warranties are true and correct in all material respects (without duplication of any
materiality or “Material Adverse Effect” qualifier contained therein) as of such earlier date or period). 
 Section 4.
CONDITIONS TO EFFECTIVENESS 
 The effectiveness of this Amendment is conditioned upon satisfaction of each of the following conditions
precedent (the date on which all such conditions have been satisfied being referred to herein as the “First Amendment Effective Date”): 

4.1 The Administrative Agent shall have received a counterpart signature page to this Amendment, duly executed and delivered by the
Borrowers, Parents, each other Credit Party, Lenders constituting the Required Lenders, the Administrative Agent and the Collateral Agent. 

4.2 The Administrative Agent shall have received a copy of a duly executed amendment with respect to the ABL Credit Agreement, in form
and substance reasonably satisfactory to the Administrative Agent, effectuating corresponding amendments to the ABL Credit Agreement, and such amendment shall have become effective substantially concurrently with the First Amendment Effective Date.

 4.3 (a) Each of the representations and warranties in (or incorporated by reference in) Section 3 hereof, and each of the
representations and warranties of the Credit Parties under the Amended Credit Agreement and under the other Loan Documents, shall in each case be true and correct in all material respects (without duplication of any materiality or “Material
Adverse Effect” qualifier contained therein) on and as of the First Amendment Effective Date (or as of the respective date of for the respective period, as the case may be), (b) both before and immediately after giving effect to this
Amendment, no Default or 

  
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Event of Default shall have occurred and be continuing or would result from the transactions contemplated by this Amendment and the Amended Credit Agreement, and (c) each Credit Party shall
have obtained all consents, approvals and authorizations necessary in connection with the transactions contemplated by this Amendment and the Amended Credit Agreement. The Administrative Agent shall have received a certificate, dated as of the First
Amendment Effective Date and signed by a Responsible Officer of each Borrower, certifying as to the matters set forth in this Section 4.2. 

4.4 (a) The Administrative Agent, for the account of each Lender party hereto on the First Amendment Effective Date, shall have received
an amendment fee in an amount equal to 0.05% of the aggregate principal amount of each such Lender’s Loans outstanding on the First Amendment Effective Date, and (b) to the extent invoiced at least one business days prior to the First
Amendment Effective Date, the Administrative Agent, the Collateral Agent and their respective Affiliates shall have received payment in full in Dollars in immediately available funds of all costs and expenses (including fees and disbursements of
counsel) required to be paid in connection with this Amendment (including pursuant to any engagement letter entered into by the Borrowers in connection herewith), including, without limitation, all costs and expenses (including fees and
disbursements of counsel) incurred in connection with the Amended Credit Agreement and the other Loan Documents in accordance with and to the extent required by Section 9.4 of the Amended Credit Agreement. 

Section 5. REAFFIRMATION; LIENS UNIMPAIRED; INDEMNIFICATION 

5.1 Reaffirmation. Each Credit Party acknowledges its receipt of a copy of this Amendment and confirms its review of the terms
and conditions hereof and of the Amended Credit Agreement and consents to the terms and conditions of this Amendment, the Amended Credit Agreement and the transactions contemplated hereby and by the Amended Credit Agreement. Each Credit Party hereby
(a) reaffirms and confirms its guarantees (including, without limitation, the Guaranteed Obligations and the Secured Obligations in each case referred to and defined in the Guaranty and Security Agreement), pledges, grants of Liens and security
interests, agreements and other undertakings under the Loan Documents, including, without limitation, in each case, such agreements and undertakings as in effect immediately after giving effect to this Amendment and the transactions contemplated
hereby and by the Amended Credit Agreement, (b) acknowledges and agrees that nothing in this Amendment, the Amended Credit Agreement, any other Loan Document or any other document or instrument executed, delivered or furnished in connection
herewith or therewith shall constitute (or be deemed to constitute) a novation, discharge, reduction, compromise, release or termination of the Obligations or of such Guaranteed Obligations or Secured Obligations and (c) agrees that
(i) each Loan Document to which it is a party or otherwise bound (as amended by this Amendment) shall continue to be in full force and effect, and each such Loan Document and its obligations thereunder are hereby ratified, confirmed and
reaffirmed in all respects, and (ii) all guarantees, pledges, grants of Liens and security interests, payment obligations, agreements and other obligations and undertakings by the Credit Parties shall continue to be in full force and effect,
shall be valid and enforceable and shall accrue to the benefit of the Secured Parties and shall not be affected, impaired, limited or discharged hereby or by the transactions contemplated in this Amendment or the Amended Credit Agreement. Nothing
herein shall be deemed to entitle any Credit Party to a consent to, or a waiver, amendment, modification or other change of, any of the Obligations, the Guaranteed Obligations, the Secured Obligations or any of the terms, conditions, obligations,
covenants or agreements contained in the Credit Agreement or any other Loan Document in similar or different circumstances, and neither the Administrative Agent, the Collateral Agent nor any other Secured Party has any obligation to inform any
Guarantor of such matters in the future or to seek any Guarantor’s acknowledgment or agreement to future amendments, waivers or consents, and nothing herein shall create such a duty. 

5.2 Liens Unimpaired. After giving effect to this Amendment and the transactions contemplated hereby and by the Amended Credit
Agreement, neither the modification of the Credit Agreement effected pursuant to this Amendment nor the execution and delivery of this Amendment, 

  
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performance of this Amendment and the Amended Credit Agreement, or effectiveness of this Amendment or the transactions contemplated hereby or by the Amended Credit Agreement (a) impair the
validity, enforceability, perfection, effectiveness or priority of Liens and security interests granted pursuant to any Loan Document, and such Liens and security interests continue unimpaired with the same priority to secure the payment and
performance in full of all Obligations, Secured Obligations and Guaranteed Obligations, whether heretofore or hereafter incurred, including as amended or modified pursuant to this Amendment, or (b) require that any new filings be made or other
action taken to perfect or to maintain the perfection of such Liens. 
 5.3 Indemnification. Each Credit Party hereby confirms
that the indemnification provisions set forth in Section 9.6 of the Credit Agreement and in any other Loan Document shall apply to this Amendment and the Amended Credit Agreement and to such losses, claims, damages, liabilities, costs and
expenses (as more fully set forth therein as applicable) which may arise herefrom or therefrom or in connection herewith or therewith or otherwise relating to this Amendment, the Amended Credit Agreement or the transactions contemplated hereby and
thereby. 
 Section 6. MISCELLANEOUS 

6.1 Reference to and Effect on Credit Agreement and Other Credit Documents. 

(a) Upon and after the effectiveness of this Amendment, each reference in the Credit Agreement to “this Agreement”,
“hereunder”, “hereof” or words of like import referring to the Credit Agreement, and each reference in the other Loan Documents to “the Credit Agreement”, “thereunder”, “thereof” or words of like
import referring to the Credit Agreement, shall mean and be a reference to the Amended Credit Agreement as it may be further amended, amended and restated, supplemented or otherwise modified in accordance with its terms. 

(b) Except as specifically amended or modified by this Amendment, the Credit Agreement and the other Loan Documents are and
shall continue to be in full force and effect and are hereby in all respects ratified and confirmed. 
 (c) The execution and
delivery of this Amendment, and effectiveness and performance of this Amendment or of the Amended Credit Agreement shall not operate as a waiver of, or otherwise affect or impair, any right, power or remedy of any Secured Party under any of the Loan
Documents or any document, instrument or agreement executed, delivered or furnished in connection therewith, nor, except as expressly provided herein, constitute a waiver or amendment of any provision of any of the Loan Documents or otherwise alter,
modify, amend or in any way affect any of the Obligations, the Guaranteed Obligations or the Secured Obligations or any of the terms, conditions, obligations, covenants, agreements or provisions contained in the Credit Agreement or any other Loan
Document, all of which are confirmed, ratified and reaffirmed in all respects and shall continue in full force and effect and shall constitute and remain the legal, valid, binding and enforceable obligations of the Credit Parties. Nothing herein
shall be deemed to entitle any Credit Party to a consent to, or a waiver, amendment, modification or other change of, any of the Obligations, the Guaranteed Obligations or the Secured Obligations or any of the terms, conditions, obligations,
covenants or agreements contained in the Credit Agreement or any other Loan Document in similar or different circumstances. 

(d) The parties hereto acknowledge and agree that: (i) this Amendment and any other document or instrument executed and
delivered in connection herewith do not constitute, and shall in no event be deemed to constitute, a compromise, satisfaction, reinstatement, accord and satisfaction, novation, release or termination of the Obligations, the Guaranteed Obligations or
the Secured Obligations as in effect prior to the First Amendment Effective Date, or of any of the 

  
 9 

 
Loan Documents or any rights or obligations thereunder, or a waiver by the Administrative Agent, the Collateral Agent, any Lender or any other Secured Party of any of their respective rights
under the Credit Agreement, the other Loan Documents, this Amendment, at law or in equity; (ii) the Obligations, the Guaranteed Obligations and the Secured Obligations are in all respects continuing with only the terms thereof being modified to
the extent expressly provided in this Amendment; and (iii) the guarantees and the Liens and security interests as granted or purported to be granted under or pursuant to the Credit Agreement and the other Loan Documents guaranteeing or securing
(as applicable) the payment and performance in full of the Obligations, the Guaranteed Obligations and the Secured Obligations (as applicable) are in all respects continuing in full force and effect and secure the payment and performance thereof as
provided therein. 
 (e) Each of this Amendment and the Amended Credit Agreement shall constitute a “Loan Document”
for all purposes under the Amended Credit Agreement and the other Loan Documents. 
 6.2 GOVERNING LAW. THIS AMENDMENT, AND THE
RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER, SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO ITS CONFLICT OF LAWS PRINCIPLES THAT WOULD REQUIRE THE APPLICATION OF ANY OTHER LAW. 

6.3 Submission to Jurisdiction; Waiver of Venue; Service of Process; Waiver of Jury Trial. The provisions of Sections 9.18 and
9.19 of the Credit Agreement are hereby incorporated by reference, mutatis mutandis, and shall apply with like effect to this Amendment as if fully set forth herein. 

6.4 Severability. The provisions of this Amendment are intended to be severable. If any provision of this Amendment shall be held
invalid or unenforceable in whole or in part in any jurisdiction, such provision shall, as to such jurisdiction, be ineffective to the extent of such invalidity or unenforceability without in any manner affecting the validity or enforceability
thereof in any other jurisdiction or the remaining provisions hereof in any jurisdiction. 
 6.5 Headings. Section and
paragraph headings have been inserted in this Amendment as a matter of convenience for reference only and it is agreed that such headings are not a part of this Amendment and shall not be used in the interpretation of any provision of this
Amendment. 
 6.6 Counterparts. This Amendment may be executed in any number of counterparts and by the different parties
hereto on separate counterparts, each of which, when executed and delivered, shall be effective for purposes of binding the parties hereto, but all of which shall together constitute one and the same instrument. Delivery of an executed counterpart
of a signature page to this Amendment by facsimile or other electronic means shall be as effective as delivery of a manually executed counterpart of this Amendment. 

6.7 Successors and Assigns. This Amendment shall inure to the benefit of and be binding upon each of the parties hereto and,
subject to and in accordance with Section 9.8 of the Credit Agreement, their respective successors and assigns. 
 [Signature pages
follow] 

  
 10 

 IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed and
delivered by their respective officers or representatives hereunto duly authorized, as of the date first above written. 
  

			
	 CHARAH, LLC, a Kentucky limited liability

company

		
	By:	 	/s/Bruce Kramer
	Name:	 	Bruce Kramer
	Title:	 	Chief Financial Officer and Treasurer
	
	 ALLIED POWER MANAGEMENT, LLC, a

Delaware limited liability company

		
	By:	 	/s/John Plumlee
	Name:	 	John Plumlee
	Title:	 	Chief Operating Officer
	
	 CHARAH SOLE MEMBER, LLC, a

Delaware limited liability company

		
	By:	 	/s/Mark Spender
	Name:	 	Mark Spender
	Title:	 	President
	
	 ALLIED POWER SOLE MEMBER, LLC, a

Delaware limited liability company

		
	By:	 	/s/John Plumlee
	Name:	 	John Plumlee
	Title:	 	Chief Operating Officer
	
	 ASH MANAGEMENT SERVICES, LLC, a

Kentucky limited liability company

		
	By:	 	/s/Bruce Kramer
	Name:	 	Bruce Kramer
	Title:	 	Chief Financial Officer and Treasurer

 First Amendment to Credit Agreement 

 
			
	 GREEN MEADOW, LLC, a North Carolina

limited liability company

		
	By:	 	/s/Bruce Kramer
	Name:	 	Bruce Kramer
	Title:	 	Chief Financial Officer & Treasurer
	
	 ALLIED POWER SERVICES, LLC, a

Delaware limited liability company

		
	By:	 	/s/John Plumlee
	Name:	 	John Plumlee
	Title:	 	Chief Operating Officer
	
	 ALLIED PLANT SERVICES, LLC, a

Delaware limited liability company

		
	By:	 	/s/John Plumlee
	Name:	 	John Plumlee
	Title:	 	Chief Operating Officer
	
	 ALLIED POWER RESOURCES, LLC, a

Delaware limited liability company

		
	By:	 	/s/John Plumlee
	Name:	 	John Plumlee
	Title:	 	Chief Operating Officer
	
	 SCB INTERNATIONAL HOLDINGS, LLC,

a Delaware limited liability company

		
	By:	 	/s/Bruce Kramer
	Name:	 	Bruce Kramer
	Title:	 	Secretary & Treasurer

 First Amendment to Credit Agreement 

 
			
	 MERCURY CAPTURE INTELLECTUAL

PROPERTY, LLC, a Delaware limited liability

company

		
	By:	 	/s/Bruce Kramer
	Name:	 	Bruce Kramer
	Title:	 	Secretary & Treasurer
	
	 MERCURY CAPTURE BENEFICIATION,

LLC, a Delaware limited liability company

		
	By:	 	/s/Bruce Kramer
	Name:	 	Bruce Kramer
	Title:	 	Secretary & Treasurer

 First Amendment to Credit Agreement 

 
			
	 CREDIT SUISSE AG, CAYMAN ISLANDS

BRANCH, as Administrative Agent and
 Collateral
Agent

		
	By	 	/s/Mikhail Faybusovich
		 	Name: Mikhail Faybusovich
		 	Title: Authorized Signatory
		
	By	 	/s/Warren Van Heyst
		 	Name: Warren Van Heyst
		 	Title: Authorized Signatory

 First Amendment to Credit AgreementEX-10.8

 Exhibit 10.8 

EMPLOYMENT AGREEMENT 

This EMPLOYMENT AGREEMENT (this “Agreement”) is made and entered into as of December 23, 2016, by and between Charah,
Inc., a Kentucky corporation (the “Company”), and the undersigned (“Executive”), and shall be effective as of the Closing Date (the “Effective Date”), as such term is defined in that certain Equity
Purchase Agreement, dated as of the date hereof, by and among Charah Sole Member LLC (“Purchaser”), the Company, Executive, as the Seller Representative and the other parties thereto (the “Purchase Agreement”). The
Company and Executive shall be collectively referred to herein as the “Parties.” 
 W I T N
E S S E T H: 
 WHEREAS, the Company will restructure prior to the closing of the
transactions contemplated by the Purchase Agreement, converting from a Kentucky corporation to a Kentucky limited liability company but continuing to be bound by all agreements (including this Agreement) and obligations and to hold all assets held
immediately prior to such conversion; 
 WHEREAS, pursuant to the transactions contemplated by the Purchase Agreement, Purchaser will
obtain all of the equity interests of the Company; 
 WHEREAS, Executive is receiving substantial consideration in connection with
the transactions contemplated by the Purchase Agreement (the “Consideration”): 
 WHEREAS, Executive’s and the
Company’s entering into this Agreement is a condition precedent to the Purchaser’s entrance into the Purchase Agreement and the consummation of the transactions contemplated thereby, including the issuance of equity interests of
Purchaser’s parent, Charah Management LLC (“Purchaser Parent”) to Executive or one of his affiliates; and 

WHEREAS, Executive desires to continue the employment of Executive and Executive desires to enter into this Agreement and continue
Executive’s employment with the Company, in each case, subject to the terms and provisions of this Agreement. 
 NOW, THEREFORE,
in consideration of the promises and mutual covenants contained herein and for other good and valuable consideration, the receipt and sufficiency of which are mutually acknowledged, the Company and Executive hereby agree as follows: 

Section 1. Definitions. Capitalized terms not otherwise defined in this Agreement shall have the meaning set forth on Appendix
A attached hereto. 
 Section 2. Acceptance and Term of Employment. 

(a) The Company agrees to employ Executive, and Executive agrees to serve the Company, on the terms and conditions set forth herein. The term
of Executive’s employment shall commence on the Effective Date and continue until the third (3rd) anniversary of the Effective Date, unless earlier terminated pursuant to
Section 8 hereof (the “Initial Term of Employment”): provided, that after the Initial Term of Employment, the Term of Employment shall automatically be extended for successive one (1) year
renewal terms until Executive’s employment is terminated by either party pursuant to Section 8 hereof; provided, however, that either party may elect not to so extend this Agreement beyond the Initial Term of
Employment or the then-current Term of Employment by giving written notice of non-renewal to the other party at least sixty (60) days prior to the end of such Term of Employment. 

 Section 3. Position, Duties, and Responsibilities; Place of Performance. 

(a) Position, Duties, and Responsibilities. During the Term of Employment, Executive shall be employed and serve the Company Group in
the position set forth under the heading “Position” on Exhibit A hereto (together with such other position or positions consistent with Executive’s title as the Board shall specify from time to time), shall report to the Board,
and shall have such duties and responsibilities commensurate with such title, including managing the day-to-day business activities of the Company Group (subject to
operating guidelines and budgets established by the Board from time to time). If requested, Executive also agrees to serve as an officer and/or director of any other member of the Company Group, in each case without additional compensation. 

(b) Performance. Executive shall devote Executive’s full business time, attention, skill, and best efforts to the performance of
Executive’s duties under this Agreement and shall not engage in any other business or occupation during the Term of Employment, including any activity that (x) conflicts with the interests of the Company or any other member of the Company
Group, (y) interferes with the proper and efficient performance of Executive’s duties for the Company, or (z) interferes with Executive’s exercise of judgment in the Company Group’s best interests. Notwithstanding the
foregoing, nothing herein shall preclude Executive from (i) serving, with the prior written consent of the Board (which consent shall not be unreasonably withheld), as a member of the boards of directors or advisory boards (or their equivalents
in the case of a non-corporate entity) of non-competing businesses and charitable organizations, (ii) engaging in charitable activities and community affairs,
(iii) managing Executive’s personal investments and affairs and (iv) managing or providing advice, directly or indirectly to Sul4r-Plus, LLC, Suite 18, LLC, PriceFlight, LLC or Price Real Estate LLC; provided, however,
that the activities set out in clauses (i), (ii), (iii) and (iv) of this Section 3(b) shall be limited by Executive so as not to interfere, individually or in the aggregate, with the
performance of Executive’s duties and responsibilities hereunder or otherwise create a conflict of interest between Executive and any member of the Company Group. 

(c) Principal Place of Employment. Executive’s principal place of employment shall be in Louisville, Kentucky although Executive
understands and agrees that Executive may be required to travel from time to time for business reasons. 
 Section 4. Compensation.

 During the Term of Employment, Executive shall be entitled to the following compensation: 

(a) Base Compensation. Executive shall be provided annualized Base Compensation, payable in accordance with the regular payroll
practices of the Company, of the amount set forth on Exhibit A under the heading “Base Compensation,” with adjustments, if any, as may be approved in writing by the Board. 

  
 2 

 (b) Annual Bonus. Beginning with the fiscal year 2017, Executive shall be eligible to
earn an annual bonus with respect to each fiscal year of the Company ending during the remaining Term of Employment up to an amount equal to fifty percent (50%) of Executive’s then-Base Compensation
(pro-rated for any fractional year) (the “Annual Bonus”). The amount of the Annual Bonus actually paid, including any related performance metrics shall be determined by the Board in its sole
discretion, after consultation with Executive. The Annual Bonus, to the extent earned, shall be paid in the calendar year following the applicable performance year within thirty (30) days following the delivery of the Company’s audited
financial statements for the relevant performance year if Executive is employed by the Company upon the delivery thereof. 
 (c) Company
Vehicle. The Company shall provide Executive with an Audi 8 or an equivalent vehicle that is reasonably acceptable to the Company for professional and personal use; provided that upon termination of the Executive’s employment for any
reason, Executive shall promptly return the vehicle to the Company or its designee. Company will also reimburse Executive for the reasonable and documented costs of insurance, use, repair and maintenance of such vehicle. 

(d) Membership Dues. The Company shall, upon presentation of documentation, reimburse Executive for his monthly required membership
dues at each of, (i) Quail Hollow Country Club, Charlotte, North Carolina, (ii) Charlotte Country Club, Charlotte, North Carolina, and (iii) Valhalla Golf Club, Louisville, Kentucky. 

(e) Usage of Company Aircraft. Executive shall have access to the Company’s leased aircraft for business purposes and, with Board
authorization, for personal use; provided, however, that Executive shall reimburse the Company for costs associated with such personal use each month. 

Section 5. Employee Benefits. 

During the Term of Employment, Executive shall be entitled to participate in health, insurance, retirement (including 401(k) plans), and other
benefits provided generally to similarly situated employees of the Company. Executive shall also be entitled to the same number of holidays and sick days, as well as any other benefits, in each case as are generally allowed to similarly situated
employees of the Company in accordance with the Company’s policy as in effect from time to time. During the Term of Employment, Executive shall be entitled to six (6) weeks of paid vacation per calendar year (as pro-rated for partial years); provided, that Executive shall not be entitled to carry over any unused vacation days from one year to the next. Nothing contained herein shall be construed to limit the
Company’s ability to amend, suspend, or terminate any employee benefit plan or policy at any time without providing Executive notice, and the right to do so is expressly reserved. 

  
 3 

 Section 6. Insurance. 

(a) At any time during the Term of Employment, the Company shall have the right to insure the life of Executive for the sole benefit of the
Company, in such amounts, and with such terms, as it may determine. All premiums payable thereon shall be the obligation of the Company. Executive shall have no interest in any such policy, but agrees to reasonably cooperate with the Company in
procuring such insurance by submitting to reasonably physical examinations, supplying all information required by the insurance company, and executing all necessary documents; provided that no financial obligation is imposed on Executive by
any such documents. 
 (b) During the Term of Employment, the Company shall purchase and maintain, at its expense, directors and officers
liability insurance providing coverage for the Executive in the same amount as applicable to members of the Board. The Company hereby agrees to indemnity the Executive and hold the Executive harmless to the maximum extent permitted under the
Company’s or Purchaser Parent’s governance documents (including the Operating Agreement) against and in respect of any and all actions, suits, proceedings, claims, demands, judgments, costs, expenses (including advances of reasonable
attorney’s fees), losses, and damages resulting from the Executive’s good faith performance of the Executive’s duties and obligations with the Company Group. 

Section 7. Reimbursement of Business Expenses. 

Executive is authorized to incur reasonable business expenses in carrying out Executive’s duties and responsibilities under this
Agreement, and the Company shall promptly reimburse Executive for all such reasonable business expenses, subject to documentation in accordance with the Company’s policy, in each case, as in effect from time to time. 

Section 8. Termination of Employment. 

(a) General. The Term of Employment shall terminate upon the earliest to occur of (i) Executive’s death, (ii) subject to
Section 8(b), a termination by reason of a Permanent Disability, (iii) a termination by the Company with or without Cause, (iv) a termination by Executive with or without Good Reason and (v) non-renewal of the Term of Employment. Upon any termination of Executive’s employment for any reason, except as may otherwise be requested by the Company in writing and agreed upon in writing by
Executive, Executive shall resign from any and all directorships, committee memberships, and any other positions Executive holds with the Company or any other member of the Company Group. Notwithstanding anything herein to the contrary, the payment
(or commencement of a series of payments) hereunder of any nonqualified deferred compensation (within the meaning of Section 409A of the Code) upon a termination of employment shall be delayed until such time as Executive has also undergone a
“separation from service” as defined in Treas. Reg. 1.409A-l(h), at which time such nonqualified deferred compensation (calculated as of the date of Executive’s termination of employment
hereunder) shall be paid (or commence to be paid) to Executive on the schedule set forth in this Section 8 as if Executive had undergone such termination of employment (under the same circumstances) on the date of
Executive’s ultimate “separation from service.” 
 (b) Termination Due to Death or Permanent Disability.
Executive’s employment shall terminate automatically upon Executive’s death. The Company may terminate Executive’s employment immediately upon the occurrence of a Permanent Disability, such termination to be effective upon
Executive’s receipt of written notice of such termination. Upon Executive’s death or in the event that Executive’s employment is terminated due to Executive’s Permanent Disability, Executive or Executive’s estate or
Executive’s beneficiaries, as the case may be, shall be entitled to: 
 (i) The Accrued Obligations; and 

  
 4 

 (ii) The Severance, payable in ratable installments in accordance with the
Company’s regular payroll practices during the Severance Term. 
 (c) Following Executive’s death or a termination of
Executive’s employment by reason of a Permanent Disability, except as set forth in this Section 8(b). Executive shall have no further rights to any compensation or any other benefits under this Agreement. For the
avoidance of doubt, Executive’s sole and exclusive remedy in connection with a termination of employment due to death or Permanent Disability shall be receipt of the amounts and benefits set forth in clauses (i) and (n) of
Section 8(b) hereof. 
 (d) Termination by the Company for Cause. 

(i) The Company may terminate Executive’s employment at any time for Cause, effective upon Executive’s receipt of
written notice of such termination. 
 (ii) In the event that the Company terminates Executive’s employment for Cause,
Executive shall be entitled only to the Accrued Obligations. Following such termination of Executive’s employment for Cause, except as set forth in this Section 8(d). Executive shall have no further rights to any
compensation or any other benefits under this Agreement. 
 (e) Termination by the Company without Cause. The Company may terminate
Executive’s employment at any time during the Term of Employment without Cause, effective upon Executive’s receipt of written notice of such termination. In the event that Executive’s employment is terminated by the Company without
Cause (other than due to death or Permanent Disability) during the Term of Employment, Executive shall be entitled to: 
 (i)
The Accrued Obligations; 
 (ii) The Severance, payable in ratable installments in accordance with the Company’s regular
payroll practices during the Severance Term; and 
 (iii) To the extent permissible under the Company’s group health
plan and subject to (A) Executive’s timely election of continuation coverage under COBRA and (B) Executive’s continued copayment of premiums at the same level and cost to Executive as if Executive were an employee of the Company
(excluding, for purposes of calculating cost, an employee’s ability to pay premiums with pre-tax dollars), continuation, for the twelve (12) months immediately following termination (or if earlier,
until the date that Executive becomes eligible to receive any health benefits as a result of subsequent employment or service during such period), of health benefits provided to Executive and Executive’s dependents immediately prior to such
termination, at the same cost applicable to active employees of the Company. 

  
 5 

 Following such termination of Executive’s employment by the Company without Cause, except as set forth
in this Section 8(e). Executive shall have no further rights to any compensation or any other benefits under this Agreement. For the avoidance of doubt, Executive’s sole and exclusive remedy in connection with a
termination of employment without Cause shall be receipt of the amounts and benefits set forth in clauses (i) through (iii) of Section 8(e) hereof. 

(f) Termination by Executive with Good Reason. Executive may terminate Executive’s employment with Good Reason during the Term of
Employment by providing the Company thirty (30) days’ written notice setting forth in reasonable specificity the event that constitutes Good Reason, which written notice, to be effective, must be provided to the Company within sixty
(60) days of the occurrence of such event. During such thirty (30) day notice period, the Company shall have a cure right (if curable), and if not cured within such period, Executive’s termination will be effective upon the expiration
of such cure period, and Executive shall be entitled to the same payments and benefits as provided in Section 8(e) hereof for a termination by the Company without Cause, subject to the same conditions on payment and
benefits as described in Section 8(e) hereof. Following such termination of Executive’s employment by Executive with Good Reason, except as set forth in this Section 8(f). Executive shall have
no further rights to any compensation or any other benefits under this Agreement. For the avoidance of doubt, Executive’s sole and exclusive remedy in connection with a termination of employment with Good Reason shall be receipt of the amounts
and benefits set forth in clauses (i) through (iii) of Section 8(e) hereof. 
 (g)
Termination by Executive without Good Reason. Executive may terminate Executive’s employment without Good Reason (including by resignation or retirement) by providing the Company thirty (30) days’ written notice of such
termination. In the event of a termination of employment by Executive under this Section 8(g). Executive shall be entitled only to the Accrued Obligations. In the event of termination of Executive’s employment under
this Section 8(g), the Company may, in its sole and absolute discretion, by written notice accelerate such date of termination without changing the characterization of such termination as a termination by Executive without
Good Reason. Following such termination of Executive’s employment by Executive without Good Reason, except as set forth in this Section 8(g). Executive shall have no further rights to any compensation or any other
benefits under this Agreement. 
 (h) Termination Due to Non-Renewal of the Term of
Employment. 
 (i) In the event that the Company terminates this Agreement by a notice of
non-renewal of a Term of Employment, as set forth in Section 2 hereof, Executive shall be entitled to: 
  

	 	(A)	The Accrued Obligations; 

  

	 	(B)	The Severance, payable in ratable installments in accordance with the Company’s regular payroll practices during the Severance Term; and 

  
 6 

	 	(C)	To the extent permissible under the Company’s group health plan and subject to (x) Executive’s timely election of continuation coverage under COBRA and (y) Executive’s continued copayment of
premiums at the same level and cost to Executive as if Executive were an employee of the Company (excluding, for purposes of calculating cost, an employee’s ability to pay premiums with pre-tax dollars),
continuation, for the twelve (12) months immediately following termination (or if earlier, until the date that Executive becomes eligible to receive any health benefits as a result of subsequent employment or service during such period), of
health benefits provided to Executive and Executive’s dependents immediately prior to such termination, at the same cost applicable to active employees of the Company. 

(ii) In the event that Executive terminates this Agreement by a notice of non-renewal
of a Term of Employment, as set forth in Section 2 hereof, Executive shall be entitled only to the Accrued Obligations. 

(iii) Following such termination of Executive’s employment due to non-renewal of
the Term of Employment, except as set forth in in Section 8(h)(i) or Section 8(h)(ii), as applicable, Executive shall have no further rights to any compensation or any other benefits under this
Agreement. For the avoidance of doubt, Executive’s sole and exclusive remedy in connection with a termination of employment due to a nonrenewal of the Term of Employment by the Company shall be receipt of the amounts and benefits set forth in
subclauses (A) through (C) of Section 8(h)(i) hereof. 
 (i) Release. Notwithstanding any
provision herein to the contrary, the payment of any amount or provision of any benefit pursuant to Sections 8(e), 8(f), or 8(h)(i) (other than the Accrued Obligations) (collectively, the “Severance Benefits”)
shall be conditioned upon Executive’s execution and delivery to the Company of an irrevocable Release of Claims in the form attached hereto as Exhibit B (the “General Release”) within sixty (60) days following the
date of the Executive’s termination of employment hereunder, and non-revocation of the General Release (and the expiration of any revocation period contained in such General Release). If Executive fails
to execute and deliver an irrevocable General Release prior to the end of such sixty (60) day period, or timely revokes Executive’s acceptance of such General Release following its execution, Executive shall not be entitled to any of the
Severance Benefits. Further, to the extent that any of the Severance Benefits constitutes “nonqualified deferred compensation” for purposes of Section 409A of the Code, any payment of any amount or provision of any benefit otherwise
scheduled to occur prior to the sixtieth (60th) day following the date of Executive’s termination of employment hereunder, but for the condition on executing the General Release as set forth
herein, shall not be made until the first regularly scheduled payroll date following such sixtieth (60th) day, after which any remaining Severance Benefits shall thereafter be provided to
Executive according to the applicable schedule set forth herein. 

  
 7 

 (j) Repayment of Severance Benefits. Notwithstanding anything in this Agreement to
the contrary (including this Section 8), in the event that Executive breaches any provision of the Non-Interference Covenants (as set forth in Section 9) or the General
Release,(i) the Severance Benefits shall immediately terminate, and the Company shall have no further obligations to Executive with respect thereto and (ii) Executive shall promptly repay all Severance Benefits previously received by Executive
or Executive’s dependents to the Company. 
 Section 9. Non-Interference Covenants.

 As a condition of Executive’s continued employment with the Company and the effectiveness of this Agreement, Executive agrees to the
following 
 (a) Covenants of Confidentiality, Non-Competition,
Non-Disclosure, Non- Disparagement and Non-Soli citation. 

(i) Definition. For purposes of this Agreement, “Confidential Information” shall mean and include, the
Company Group’s non-public information, trade secrets and/or sensitive proprietary information about the Company Group’s business practices, procedures, methods, protocols, strategies and systems,
which provide the Company Group with a competitive advantage in the marketplace, and which, if obtained and used by a competitor, could be harmful to the Company Group’s business, and which are maintained in confidence within the Company Group.
By way of illustration only, Confidential Information includes, but is not limited to, technical and non-technical data, compilations, programs and methods, techniques, drawings, processes, financial data,
Executive compensation data and structures, Executive performance information, actual and prospective customer lists, business development strategies, business review reports, delivery schedules, distribution methods and processes, routing
methodology, warehousing techniques, credit terms, documents containing names and addresses of current or former customers that includes their past or present buying patterns or habits, sales reports, service reports, price lists and discount lists,
methods, strategies and/or procedures regarding pricing, product cost and profit strategies or structures, product formulae, methods and/or procedures related to sales or services, methods and/or procedures of operation, special training of sales
representatives, continuous market updates, sales allowance, vendor programs, and merchandising strategies. Executive agrees that all information possessed by Executive, or disclosed to Executive, or to which Executive obtains access during the
course of Executive’s employment with the Company shall be presumed to be Confidential Information under the terms of this Agreement, and the burden of proving otherwise shall rest with Executive. 

(ii) Covenant of Nondisclosure. Executive acknowledges and agrees that as a direct result of Executive’s employment
by the Company, Executive will have access to, learn about, and become familiar with the Confidential Information. The parties acknowledge and agree that the Confidential Information is a valuable, unique asset of the Company Group and that the
Company Group has expended a great deal of time, money and other resources in identifying, researching, preparing, maintaining, and updating the Confidential Information. Accordingly, Executive agrees and covenants that, during Executive’s
employment with the Company, Executive will maintain the Confidential Information in strictest confidence and Executive will not, at any time, disclose, use or induce or assist in the use or disclosure of the Confidential Information,

  
 8 

 
except as necessary for the performance of Executive’s duties as a Company Executive. Furthermore, Executive agrees that Executive will not, at any time after the termination of
Executive’s employment with the Company, directly or indirectly, utilize or disclose, or assist others with obtaining, utilizing or disclosing, the Confidential Information. In addition, in the event that Executive becomes aware of any act or
threat of action on the part of any person, to obtain or disclose Confidential Information, Executive agrees to provide immediate written notification of this to the Board, the Company’s President and CEO and to Executive’s direct
supervisor. 
 (iii) Non-Use of Confidential Information. Executive covenants
and agrees that Executive will use the Confidential Information solely for the purposes of fulfilling Executive’s duties under this Agreement and will not use the Confidential Information for any other purpose without the prior written consent
of the Company. 
 (iv) Company Property. Executive acknowledges Executive’s duty and responsibility to maintain
and safeguard all Company Group property issued and/or provided to Executive, which includes all Confidential Information in any medium. Executive further acknowledges that such property is and shall always remain the property of the Company Group
and is to be returned to the Company Group promptly and, in good condition, absent normal wear and tear from proper usage, on the date of termination of Executive’s employment with the Company or on such earlier date as requested by the
Company. 
 (v) Non-Solicitation. Executive agrees that, from and after the
Effective Date until thirty-six (36) months after the date when Executive is no longer employed by any member of the Company Group, that Executive will not and will cause his affiliates to not, directly
or through others (i) solicit any Executive of the Company Group who was employed by any member of the Company Group at any time during the last year of Executive’s employment with the Company, (ii) assist or encourage any such
Executive to terminate his or her employment with any member of the Company Group; (iii) solicit business of the type then being performed by any member of the Company Group from any individual or entity which is a customer of any member of the
Company Group or any actively sought prospective customer of the Company Group; (iv) induce, solicit or encourage any individual or entity who or which is a customer, vendor, supplier or contractor of any member of the Company Group or has
another business relationship with any member of the Company Group to cease doing business with, reduce the level of business, or adversely change the terms of the relationship with, the Company Group, and/or (v) in any way interfere with the
relationship between such individual or entity and any member of the Company Group. 
 (vi) Covenant Not to Compete.
Executive recognizes, acknowledges and agrees that all customers, clients and/or accounts acquired, serviced, managed or contacted by the Company Group, the Company Group’s other Executives or Executive during Executive’s employment with
the Company Group, including all customers, clients and/or accounts acquired, serviced, managed or contacted by Executive due to Executive’s efforts are the exclusive property of the Company Group and are deemed to be “Company
Accounts.” Executive covenants and agrees that from and after the 

  
 9 

 
Effective Date until thirty-six (36) months after the date when Executive is no longer employed by any member of the Company Group, Executive shall
not, and shall cause his affiliates to not, within a 250 mile radius of any Company Group office, project site, customer office or any other facility owned, operated, serviced or managed by any party to a Company Account as herein above defined,
engage in any of the following: 
  

	 	(A)	directly or through others enter into the employ of, render any service to or in concert with any business which competes with the Company Group in the business of coal ash sales, marketing, production and materials
management, processing and distribution (herein referred to as the “Competitive Businesses”): provided, that a “Competitive Business” shall not include the businesses of Sul4r- Plus, LLC, Suite 18, LLC, PriceFlight,
LLC or Price Real Estate LLC, as such businesses are generally conducted as of the date hereof, which for the avoidance of doubt does not involve the business of coal ash sales, marketing, production and materials management, process or
distribution. 

  

	 	(B)	directly or through others engage in any such Competitive Businesses on Executive’s or Executive’s affiliates’ own account; or 

 

	 	(C)	become interested in the Competitive Businesses directly or through others as an individual, partner, member, equityholder, director, officer, manager, principal, agent or Executive, or in any other relationship or
capacity; provided, that the purchase of a public security of a corporation engaged in such business or service shall not in itself be deemed a violation of this Agreement so long as Executive does not own, directly or indirectly, more than
two percent (2%) of the securities of such corporation. 

 (vii) Notwithstanding anything in subsection
9(a)(v) and 9(a)(vi) above to the contrary, in the event Executive’s employment is terminated (x) by the Company without Cause, (y) by Executive for Good Reason or (z) by the Company pursuant to a non-renewal of a Term of Employment, the restriction periods described in subsection 9(a)(v) and 9(a)(vi) shall be reduced to twenty-four (24) months. 

(b) Non-Disparagement. Subject to Section 12 below, Executive agrees
that during the period from and after the Effective Date, Executive will not, and will cause his affiliates to not, make, publish, or communicate any disparaging or defamatory comments regarding the Company Group or their current or former
directors, officers, members, managers, partners, Executives or direct or indirect owners (including equityholders) in any respect or make any comments concerning any aspect of Executive’s relationship with the Company Group or any conduct or
events which precipitated any termination of Executive’s employment from the Company Group. Notwithstanding the foregoing, nothing in this Section 9(b) shall be deemed to impair or limit Executive’s rights, if
any, to engage in concerted activity as set forth in Section 7 of the National Labor Relations Act. 

  
 10 

 (c) Reasonableness. Executive has carefully considered the nature and extent of the
restrictions upon Executive and the rights and remedies conferred upon the Company under the Agreement. Executive hereby acknowledges and agrees that the nature and extent of the restrictions upon Executive are reasonable in time, scope and
territory, that such restrictions are designed to eliminate competition which would be unfair to the Company Group, that such restrictions are fully required to protect the legitimate interests of the Company Group and that such restrictions do not
confer a benefit upon the Company Group which is disproportionate to any detriment to Executive. Executive represents, stipulates and acknowledges that Executive’s experience and capabilities are such that the provisions of the Agreement will
not prevent Executive from earning a livelihood, especially since the proprietary information which Executive will acquire while in the employment of the Company has a very limited application. Executive further acknowledges that it would cause the
Company Group serious and irreparable injury and cost if Executive was to use Executive’s ability and knowledge in competition with the Company Group, or to otherwise breach the obligations contained in the Agreement. The Executive has been
given the opportunity to consult, and has consulted with, independent legal counsel and other advisors regarding Executive’s rights and obligations under this Agreement and the documents contemplated hereby and intends for such terms to be
binding upon and enforceable against the Executive, all of which are hereby voluntarily and willingly agreed to by the Executive. 
 (d)
Other Obligations. Executive acknowledges that the Company from time to time may have agreements with other persons which impose obligations or restrictions on the Company regarding information obtained during the course of work under such
agreements or regarding the confidential nature of such work or other information, materials or documents being exchanged between them. Executive agrees to be bound by all such obligations and restrictions which are made known to Executive and to
take all action necessary to discharge the obligations of the Company under such agreements. 
 Section 10. Improvements, Inventions
and Patent Rights. 
 (a) Discoveries of Executive are Property of the Company Group. Executive agrees that all inventions,
discoveries, ideas, improvements, processes, products, machines, designs, ideas, equipment, formulae, techniques, computer software and business opportunities, regardless of whether patentable (“Proprietary Discoveries”), that are
developed by Executive or prepared during the course of Executive’s employment with the Company Group, which in any way affects the materials manufactured, sold or used by the Company Group or which are ormay be capable of being used in the
Company Group’s business, shall be the property of the Company Group. Executive further agrees that all Proprietary Discoveries that are developed by Executive within the twelve (12) months following termination of Executive’s
employment with the Company, which relate directly to projects that Executive worked on or had knowledge of while in the employ of the Company Group, shall be the property of the Company Group. Executive shall not assign or attempt to assign any
rights in any of the Proprietary Discoveries to any other person or entity without the written consent of the President of the Company. Executive agrees to assign to the Company all rights in the Proprietary Discoveries without further
consideration. Executive further agrees to promptly disclose to the Company, and assist the Company in developing and in preserving, the Proprietary Discoveries. The term “Proprietary Discoveries” shall be given the broadest interpretation
possible and shall include any Proprietary Discoveries conceived, designed, devised, developed, perfected, or made by Executive during off-duty hours and away from the Company’s premises, as well as those
conceived, designed, devised, developed, perfected or made in the regular course of Executive’s performance. 

  
 11 

 (b) Assignment of Rights to the Company, Executive agrees that, on the Company’s
request and at the Company’s expense, Executive shall make application, through patent counsel for the Company, for Letters patent of the United States and of any and all countries designated by the Company for all Proprietary Discoveries.
Executive further agrees to execute promptly a written assignment of all such applications to the Company or according to its order. Executive also agrees to assist the Company and its counsel, on their request, in preparing the patent applications.
While in the employ of the Company, such assistance shall be provided without additional payment by the Company. After termination of employment, however, the Company agrees to pay Executive’s out-of-pocket expenses and a per diem charge, based on Executive’s current salary, for assistance rendered in preparing the patent applications. From time to time, Executive shall execute at the
Company’s request all papers and do all things that may be reasonably required to protect the rights of the Company and to vest in it or its assigns the Proprietary Discoveries and the patent described herein. 

(c) Maintenance of Complete Records; Return of the Company’s Materials. Executive agrees to make and maintain adequate and current
written records of all Proprietary Discoveries, in the form of notes, sketches, drawings or reports. Executive acknowledges that all drawings, blueprints, documents, records, notebooks, computer generated data, photocopies, photographs, personal
notes taken during the course of employment, records, tables, calculations, letters and other similar repositories that contain any Confidential Information or relate to any Proprietary Discoveries, whether prepared by Executive or others, are and
shall remain the property of the Company. On termination of Executive’s employment with the Company, Executive must immediately return to the Company all such material then in Executive’s possession or under such Executive’s control.

 Section 11. Remedies. 

The Parties acknowledge that because of that Executive’s position with the Company and the duties and responsibilities inherent in such a
position, including the receipt of Confidential Information made available to the Executive by the Company, the Company would suffer irreparable loss and severe damages that would be nearly impossible to calculate with any degree of mathematical
certainty, if the Executive were determined to breach the noncompetition, confidentiality, non-disclosure, non-disparagement and
non-solicitation covenants contained within Section 9 of this Agreement. Executive further acknowledges that the noncompetition, confidentiality,
non-disclosure, non-disparagement and non-solicitation covenants contained herein are reasonably necessary to protect and/or
preserve the Company Business, the assets of the Company and its shareholders. Executive therefore agrees and consents that, in addition to any other legal remedies that might be available to the Company, the Company shall be entitled to preliminary
and final injunctive relief, as well as any and all other legal and equitable relief to which it may otherwise be justly entitled, in order to prevent an ongoing breach or prevent an anticipated or threatened breach of the aforementioned covenant by
the Executive. Executive further waives any right Executive may have to require the Company 

  
 12 

 
to post bond prior to obtaining equitable relief under this Section 11, or, if such bond is nevertheless required, Executive consents to setting such bond at the lowest
amount permitted by law and waives any need of the Company to prove irreparable harm or injury as a result of such breach or anticipated or threatened breach. 

Section 12. Response to Subpoena, Court Order or Other Legal Process; Defend Trade Secrets Act. 

Nothing in this Agreement shall prohibit or restrict either party or their respective attorneys from: (i) making any disclosure of
relevant and necessary information or documents in any action, investigation, or proceeding relating to this Agreement, or as required by law or legal process, including with respect to possible violations of law; or (ii) participating,
cooperating, or testifying in any action, investigation, or proceeding with, or providing information to, any governmental agency or legislative body, any self-regulatory organization, and/or pursuant to the Sarbanes-Oxley Act. In addition, nothing
in this Agreement prohibits or restricts Company or Executive from initiating communications with, or responding to any inquiry from, any regulatory or supervisory authority regarding any good faith concerns about possible violations of law or
regulation. Pursuant to 18 U.S.C. § 1833(b), Executive will not be held criminally or civilly liable under any federal or state trade secret law for the disclosure of a trade secret of the Company or its subsidiaries or affiliates that
(a) is made (i) in confidence to a federal, state, or local government official, either directly or indirectly, or to Executive’s attorney and (ii) solely for the purpose of reporting or investigating a suspected violation of
law; or (b) is made in a complaint or other document that is filed under seal in a lawsuit or other proceeding. If Executive files a lawsuit for retaliation by the Company for reporting a suspected violation of law, Executive may disclose the
trade secret to Executive’s attorney and use the trade secret information in the court proceeding, if Executive files any document containing the trade secret under seal, and does not disclose the trade secret, except pursuant to court order.
Nothing in this Agreement is intended to conflict with 18 U.S.C. § 1833(b) or create liability for disclosures of trade secrets that are expressly allowed by such section. 

  
 13 

 Section 13. Cooperation. Executive agrees that, for a
period of two (2) years following any termination of Executive’s employment with the Company Group, Executive will continue to provide reasonable cooperation to the Company and/or other member of the Company Group and its or their
respective counsel in connection with any investigation, administrative proceeding, or litigation relating to any matter that occurred during Executive’s employment in which Executive was involved or of which Executive has knowledge. As a
condition of such cooperation, the Company shall reimburse Executive for reasonable and documented out-of-pocket expenses and any and all documented lost compensation
incurred at the request of the Company with respect to Executive’s compliance with this Section 13. Executive also agrees that, in the event Executive is subpoenaed by any Person or entity (including, any government
agency) to give testimony or provide documents (in a deposition, court proceeding, or otherwise), that in any way relates to Executive’s employment with the Company Group, Executive will give prompt notice of such request to the Company and, to
the extent permitted by applicable law, will make no disclosure until the Company has had a reasonable opportunity to contest the right of the requesting Person or entity to such disclosure. 

Section 14. Disclosure of Section 9 Covenants. Subject to the other restrictions on disclosure
contained herein, as long as it remains in effect, Executive will disclose the existence of the Section 9 covenants to any prospective employer, partner, co-venturer, investor, or lender prior to entering into an employment, partnership, or
other business relationship with such Person or entity. 
 Section 15. Representations and Warranties of Executive. 

Executive represents and warrants to the Company that: 

(a) Executive is entering into this Agreement voluntarily and that Executive’s employment hereunder and compliance with the terms and
conditions hereof will not conflict with or result in the breach by Executive of any agreement to which Executive is a party or by which Executive may be bound; 

(b) Executive has not violated, and in connection with Executive’s employment with the Company will not violate, any non-solicitation, non-competition, or other similar covenant or agreement of a prior employer by which Executive is or may be bound; 

(c) In connection with Executive’s employment with the Company, Executive will not use any confidential or proprietary information
Executive may have obtained in connection with employment with any prior employer; and 
 (d) None of the Company, or any other member of
the Company Group or any of their respective representatives, has provided any legal advice to Executive in connection with this Agreement and that Executive has been advised by the Company to seek, and Executive has sought, legal advice from
Executive’s own legal counsel regarding this Agreement. 
 Section 16. Taxes. 

The Company may withhold from any payments made under this Agreement all applicable taxes, including but not limited to income, employment,
and social insurance taxes, as shall be required by law. Executive acknowledges and represents that the Company has not provided any tax advice to Executive in connection with this Agreement and that Executive has been advised by the Company to seek
tax advice from Executive’s own tax advisors regarding this Agreement and payments that may be made to Executive pursuant to this Agreement. 

  
 14 

 Section 17. Set Off; Mitigation. 

The Company’s obligation to pay Executive the amounts provided and to make the arrangements provided hereunder shall be subject to set-off, or recoupment of documented amounts owed by Executive to the Company or any other member of the Company Group; provided, however, that to the extent any amount so subject to set-off, or recoupment is payable in installments hereunder, such set-off, or recoupment shall not modify the applicable payment date of any installment, and to the extent an
obligation cannot be satisfied by reduction of a single installment payment, any portion not satisfied shall remain an outstanding obligation of Executive and shall be applied to the next installment only at such time the installment is otherwise
payable pursuant to the specified payment schedule. 
 Section 18. Additional Section 409A Provisions. 

Notwithstanding any provision in this Agreement to the contrary: 

(a) Any payment otherwise required to be made hereunder to Executive at any date as a result of the termination of Executive’s employment
shall be delayed for such period of time as may be necessary to meet the requirements of Section 409A(a)(2)(B)(i) of the Code (the “Delay Period”). On the first business day following the expiration of the Delay Period,
Executive shall be paid, in a single cash lump sum, an amount equal to the aggregate amount of all payments delayed pursuant to the preceding sentence, and any remaining payments not so delayed shall continue to be paid pursuant to the payment
schedule set forth herein. 
 (b) Each payment in a series of payments hereunder shall be deemed to be a separate payment for purposes of
Section 409A of the Code. 
 (c) To the extent that any right to reimbursement of expenses or payment of any benefit in-kind under this Agreement constitutes nonqualified deferred compensation (within the meaning of Section 409A of the Code), (i) any such expense reimbursement shall be made by the Company no later than the
last day of the taxable year following the taxable year in which such expense was incurred by Executive, (ii) the right to reimbursement or in-kind benefits shall not be subject to liquidation or exchange
for another benefit, and (iii) the amount of expenses eligible for reimbursement or in-kind benefits provided during any taxable year shall not affect the expenses eligible for reimbursement or in-kind benefits to be provided in any other taxable year; provided, that the foregoing clause shall not be violated with regard to expenses reimbursed under any arrangement covered by Section 105(b) of
the Code solely because such expenses are subject to a limit related to the period the arrangement is in effect. 
 (d) While the payments
and benefits provided hereunder are intended to be structured in a manner to avoid the implication of any penalty taxes under Section 409A of the Code, in no event whatsoever shall the Company or any of its affiliates be liable for any
additional tax, interest, or penalties that may be imposed on Executive as a result of Section 409A of the Code or any damages for failing to comply with Section 409A of the Code (other than for withholding obligations or other obligations
applicable to employers, if any, under Section 409A of the Code). 

  
 15 

 Section 19. Successors and Assigns; No Third-Party Beneficiaries. 

(a) The Company. This Agreement shall inure to the benefit of the Company and its successors and assigns. Neither this Agreement nor
any of the rights, obligations, or interests arising hereunder may be assigned by the Company to a Person (other than another member of the Company Group, or its or their respective successors) without Executive’s prior written consent (which
shall not be unreasonably withheld, delayed, or conditioned); provided, however, that in the event of a sale of all or substantially all of the assets of the Company, the Company may provide that this Agreement will be assigned to, and
assumed by, the acquiror of such assets without Executive’s consent. 
 (b) Executive. Executive’s rights and obligations
under this Agreement shall not be transferable by Executive by assignment or otherwise, without the prior written consent of the Company; provided, however, that if Executive shall die, all amounts then payable to Executive hereunder shall be
paid in accordance with the terms of this Agreement to Executive’s devisee, legatee, or other designee, or if there be no such designee, to Executive’s estate. 

(c) No Third-Party Beneficiaries. Except as otherwise set forth in Section 8(b) or
Section 19(b) hereof, nothing expressed or referred to in this Agreement will be construed to give any Person other than the Company, the other members of the Company Group, and Executive any legal or equitable right,
remedy, or claim under or with respect to this Agreement or any provision of this Agreement. 
 Section 20. Waiver and
Amendments. 
 Any waiver, alteration, amendment, or modification of any of the terms of this Agreement shall be valid only if made in
writing and signed by each of the parties hereto. No waiver by either of the parties hereto of their rights hereunder shall be deemed to constitute a waiver with respect to any subsequent occurrences or transactions hereunder unless such waiver
specifically states that it is to be construed as a continuing waiver. 
 Section 21. Severability. 

If any covenants or such other provisions of this Agreement are found to be invalid or unenforceable by a final determination of a court of
competent jurisdiction, (a) the remaining terms and provisions hereof shall be unimpaired, and (b) the invalid or unenforceable term or provision hereof shall be deemed replaced by a term or provision that is valid and enforceable and that
comes closest to expressing the intention of the invalid or unenforceable term or provision hereof. 
 Section 22.
Governing Law; Waiver of Jury Trial. THIS AGREEMENT IS GOVERNED BY AND IS TO BE CONSTRUED UNDER THE LAWS OF THE COMMONWEALTH OF KENTUCKY (WITHOUT REFERENCE TO ANY CHOICE OF LAW PROVISIONS). ANY DISPUTES ARISING UNDER THIS AGREEMENT
SHALL BE HEARD BY A COURT OF COMPETENT JURISDICTION SITTING IN LOUISVILLE, KENTUCKY. EACH PARTY TO THIS AGREEMENT ALSO HEREBY WAIVES ANY RIGHT TO TRIAL BY JURY IN CONNECTION WITH ANY SUIT, ACTION, OR PROCEEDING UNDER OR IN CONNECTION WITH THIS
AGREEMENT. 

  
 16 

 Section 23. Notices. 

(a) Place of Delivery. Every notice or other communication relating to this Agreement shall be in writing, and shall be mailed to or
delivered to the party for whom or which it is intended at such address as may from time to time be designated by it in a notice mailed or delivered to the other party as herein provided; provided, that unless and until some other address is
so designated, all notices and communications by Executive to the Company shall be mailed or delivered to the Company at its principal executive office (with a copy to c/o Bernhard Capital Partners, 400 Convention Street, Suite 1010, Baton Rouge,
Louisiana 70802, Attention: Jeffrey Koonce), and all notices and communications by the Company to Executive may be given to Executive personally or may be mailed to Executive at Executive’s last known address, as reflected in the Company’s
records. 
 (b) Date of Delivery. Any notice so addressed shall be deemed to be given (i) if delivered by hand, on the date of
such delivery, (ii) if mailed by courier or by overnight mail, on the first business day following the date of such mailing, and (iii) if mailed by registered or certified mail, on the third business day after the date of such mailing.

 Section 24. Section Headings; Construction and Interpretation. 

The headings of the sections and subsections of this Agreement are inserted for convenience only and shall not be deemed to constitute a part
thereof or affect the meaning or interpretation of this Agreement or of any term or provision hereof. The language used in this Agreement shall be deemed to be the language chosen by the parties hereto to express their mutual intent, and no rule of
strict construction shall be applied against any party. The definitions of terms herein shall apply equally to the singular and plural forms of the terms defined. The words “include”, “includes” and “including” shall be
deemed to be followed by the phrase “without limitation”. Unless the context requires otherwise (i) any definition of or reference to any agreement, instrument or other document herein shall be construed as referring to such
agreement, instrument or other document as from time to time amended, supplemented or otherwise modified (subject to any restrictions on such amendments, supplements or modifications set forth herein), (ii) any reference herein to any Person shall
be construed to include such Person’s successors and assigns, (iii) the words “herein”, “hereof’ and “hereunder”, and words of similar import, shall be construed to refer to this Agreement in its entirety and
not to any particular provision hereof and (iv) all references herein to Sections shall be construed to refer to Sections of this Agreement unless otherwise noted. The recitals hereto are hereby incorporated herein. 

Section 25. Entire Agreement. 

This Agreement and the General Release together with any other exhibits and schedules attached hereto, constitutes the entire understanding
and agreement of the parties hereto with respect to the subject matter hereof and thereof. This Agreement supersedes all prior negotiations, discussions, correspondence, communications, understandings, and agreements between the parties relating to
the subject matter of this Agreement. 

  
 17 

 Section 26. Survival of Operative Sections. 

Upon any termination of Executive’s employment, the provisions of Section 8 through
Section 27 of this Agreement (together with any related definitions set forth in Section 1 hereof) shall survive to the extent necessary to give effect to the provisions thereof. 

Section 27. Counterparts. 

This Agreement may be executed in multiple counterparts, each of which shall be deemed to be an original but all of which together shall
constitute one and the same instrument. The execution of this Agreement may be by actual or electronic (including by means of facsimile or email transmission) signature. 

*            *           
 * 

  
 18 

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

			
	COMPANY
	
	CHARAH, INC.
		
	By:	 	/s/Charles E. Price
	Name:	 	Charles E. Price
	Title:	 	President and Chief Executive Officer

  
 Signature Page to
Employment Agreement 

 
	
	EXECUTIVE:
	
	/s/Charles E. Price
	Charles E. Price

  
 Signature Page to
Employment Agreement 

 APPENDIX A 

Definitions 
 (a) “Accrued
Obligations” shall mean (i) all accrued but unpaid Base Compensation through the date of termination of Executive’s employment, (ii) any unpaid or unreimbursed expenses incurred in accordance with
Section 7 hereof, (iii) any benefits provided under the Company’s employee benefit plans upon a termination of employment, in accordance with the terms contained therein (which for the avoidance of doubt shall in
no event include more than thirty (30) days of unused paid vacation) , and (iv) rights with respect to equity of the Company Group, subject to, and in accordance with, the terms and conditions of the Operating Agreement and any
subscription, grant or similar agreement relating to such equity. 
 (b) “Agreement” shall have the meaning set forth in
the preamble hereto. 
 (c) “Annual Bonus” shall have the meaning set forth in Section 4(b). 

(d) “Base Compensation” shall mean the annual salary provided for in Section 4(a). 

(e) “Board” shall mean the Board of Managers of Purchaser Parent. 

(f) “Cause” shall mean: (i) Executive’s act(s) of gross negligence or willful misconduct in the course of
Executive’s employment hereunder, (ii) Executive’s substantial and sustained failure or refusal by Executive to perform Executive’s material duties or responsibilities to the Company Group or to follow the lawful directives of
the Board (other than as a result of death or Permanent Disability), (iii) misappropriation (or attempted misappropriation) by Executive of any assets or business opportunities of the Company or any other member of the Company Group,
(iv) Executive’s conviction of or pleading guilty or nolo contendere to any felony or any crime involving moral turpitude, (v) Executive’s failure to cooperate in any material way with any audit or investigation of the
business or financial practices of the Company Group, (vi) Executive’s performance of any act of theft, embezzlement, fraud, malfeasance, dishonesty or misappropriation of the Company’s property, (vii) Executive’s material
breach of this Agreement, the Operating Agreement, or any other noncompetition, non-solicitation, confidentiality, non-disparagement or other restrictive covenant
provisions relating to any member of the Company Group by which the Executive may be bound, or any other agreement between Executive, on the one hand, a member of the Company Group, on the other hand, (viii) Executive’s material violation
of the Company’s lawful code of conduct or other written policy (so long as Executive has been provided a copy of such code or policy and has been given a reasonable opportunity to cure such violation, if such violation is curable) or
(ix) Executive’s deliberate misconduct which is reasonably likely to be materially damaging to any member of the Company Group. 

(g) “COBRA” shall mean Section 4980B of the Code and Title I, Subtitle B, Part 6 of ERISA. 

(h) “Code” shall mean the Internal Revenue Code of 1986, as amended, and the rules and regulations promulgated thereunder.

 (i) “Company” shall have the meaning set forth in the recitals hereto. 

(j) “Company Group” shall mean, collectively, Purchaser Parent, Purchaser, the Company and their respective subsidiaries.

 (k) “Delay Period” shall have the meaning set forth in Section 18 hereof. 

(l) “Disability Period” any period of time (prior to termination under Section 8) that a physical or
mental disability or infirmity of Executive prevents, or, in the good faith determination of the Board, would be reasonably likely to prevent, the performance of Executive’s duties 

(m) “Executive” shall have the meaning set forth in the preamble hereto. 

(n) “Good Reason” shall mean, without Executive’s consent, (i) a material and ongoing diminution in
Executive’s title, duties, responsibilities as set forth in Section 3 hereof, (ii) a reduction in Executive’s Base Compensation below the level of such Base Compensation on the Effective Date, (iii) the
relocation of Executive’s principal place of employment (as provided in Section 3(c) hereof) more than seventy-five (75) miles from its current location; (iv) a “Change of Control” as that term is
defined in the form of Amended and Restated Limited Liability Company Agreement of Charah Management LLC attached as Exhibit G to that certain Equity Purchase Agreement of even date herewith by and among Charah Sole Member LLC, the Company and the
Executive, as Seller Representative; (v) a material adverse change in benefits (which, for the avoidance of doubt, shall not include any change related to any Annual Bonus) or perquisites; or (vi) any other material breach of a provision
of this Agreement by the Company (other than a provision that is covered by clause (if (ii), (iii), (iv) or (v) above); provided, that none of the foregoing events shall constitute Good Reason unless the Company
fails to cure such event within thirty (30) days after receipt from the Executive of written notice of the event which constitutes Good Reason as contemplated in Section 8(f), which written notice shall give reasonable
specificity in the nature of the circumstances determined by the Executive in good faith to constitute Good Reason; and provided, further, that “Good Reason” shall cease to exist for an event on the sixtieth (60th) day after the Executive obtains knowledge of the occurrence of such event, unless the Executive has given the Company written notice thereof prior to such date. Executive acknowledges and agrees
that Executive’s exclusive remedy in the event of any breach of this Agreement shall be to assert Good Reason pursuant to the terms and conditions of Section 8(f) hereof. Notwithstanding the foregoing, during the Term
of Employment, in the event that the Company reasonably believes that Executive may have engaged in conduct that could constitute Cause hereunder, the Company may, in its sole and absolute discretion, suspend Executive from performing
Executive’s duties hereunder, and in no event shall any such suspension constitute an event pursuant to which Executive may terminate employment with Good Reason or otherwise constitute a breach hereunder; provided, that no such
suspension shall alter the Company’s obligations under this Agreement during such period of suspension. 
 (o) “Initial Term of
Employment” shall mean the period specified in Section 2 hereof. 

  
 2 

 (p) “Non-Interference Covenants”
shall mean Section 9 of the Agreement. 
 (q) “Operating Agreement” shall mean the Amended and Restated Limited
Liability Company Agreement of Purchaser Parent, to be dated as of the Effective Date, as may be modified, amended, restated or amended and restated from time to time. 

(r) “Permanent Disability” shall mean any physical or mental disability or infirmity of Executive that prevents, or, in the
good faith determination of the Board, would be reasonably likely to prevent, the performance of Executive’s duties for a period of one hundred twenty (120) days, whether or not consecutive, during any twelve (12) month period. The
determination of disability or infirmity under the preceding sentence shall be made in good faith by the Board and may be based upon information supplied by a physician selected by the Board or the Company’s insurers and reasonably acceptable
to the Executive or his legal representative; provided that the Executive shall cooperate fully with such physician to permit such physician to make an accurate determination as to incapacity or disability. The determination of any such
physician shall be final and conclusive for all purposes of this Agreement. During any Disability Period, the Executive shall continue to receive his full Base Compensation pursuant to Section 4(a) and the benefits under
Sections 4(c), 5, 6 and 7 of this Agreement until his Term of Employment is officially terminated pursuant to Section 8. 

(s) “Person” shall mean any individual, corporation, partnership, limited liability company, joint venture, association,
joint-stock company, trust (charitable or non- charitable), unincorporated organization, or other form of business entity. 

(t) “Severance” shall, mean an amount equal to the greater of (i) the balance of Executive’s then-applicable
Base Compensation, through the end of the applicable Term of Employment (calculated as if such Term of Employment had not been terminated) or (ii) one (1) year of Executive’s then applicable Base Compensation, in either event, less
standard withholdings. 
 (u) “Severance Benefits” shall have the meaning set forth in
Section 8(i) hereof. 
 (v) “Severance Term” shall mean, at the time of Executive’s
termination, the greater of (i) the remaining Term of Employment (calculated as if such Term of Employment had not been terminated) and (ii) twelve (12) months. 

(w) “Term of Employment” shall mean the Initial Term of Employment and the period of any extension thereof in accordance with
Section 2 hereof. 

  
 3 

 EXHIBIT A 

Employment Information 
  

					
	 Executive Name
	  	 Position
	  	 Base Compensation

	 Charles E. Price
	  	 President and Chief Executive
 Officer
	  	$700,000.00

 EXHIBIT B 

AGREEMENT MAY NOT BE SIGNED 

PRIOR TO LAST DAY OF EMPLOYMENT 

GENERAL RELEASE 

I, Charles E. Price, in consideration of and subject to the performance by Charah, Inc., and its successors (together with its subsidiaries,
the “Company”), of its obligations under the Employment Agreement dated as of December 22, 2016 (the “Agreement”), do hereby release and forever discharge as of the date hereof the Company and each other member
of the Company Group (as defined in the Agreement) and their respective, direct and indirect, subsidiaries and affiliates and all of their respective present, former and future managers, directors, officers, employees, successors and assigns and
their direct or indirect owners (collectively, the “Released Parties”) to the extent provided below (this “General Release”). The Released Parties are intended to be third-party beneficiaries of this General
Release, and this General Release may be enforced by each of them in accordance with the terms hereof in respect of the rights granted to such Released Parties hereunder. Terms used herein but not otherwise defined shall have the meanings given to
them in the Agreement. 
 1. I understand that any payments or benefits paid or granted to me under Section 8 of
the Agreement represent, in part, consideration for signing this General Release and are not salary, wages or benefits to which I was already entitled. I understand and agree that I will not receive certain of the payments and benefits specified in
Section 8 of the Agreement unless I execute this General Release and do not revoke this General Release within the time period permitted hereafter. Such payments and benefits will not be considered compensation for purposes of any employee
benefit plan, program, policy or arrangement maintained or hereafter established by the Company or its affiliates. 
 2. Except as provided
in Sections 4 and 5 below and except for the provisions of the Agreement which expressly survive the termination of my employment with the Company, I knowingly and voluntarily (for myself, my heirs, executors, administrators and
assigns) release and forever discharge the Company and the other Released Parties from any and all claims, suits, controversies, actions, causes of action, cross-claims, counter-claims, demands, debts, compensatory damages, liquidated damages,
punitive or exemplary damages, other damages, claims for costs and attorneys’ fees, or liabilities of any nature whatsoever in law and in equity, both past and present (through the date upon which I sign this General Release) and whether known
or unknown, suspected, or claimed against the Company or any of the Released Parties which I, or any of my heirs, executors, administrators or assigns may have, including, claims which arise out of or are connected with my employment with, or my
separation or termination from, the Company (including, but not limited to, any allegation, claim or violation, arising under: Title VII of the Civil Rights Act of 1964, as amended; the Civil Rights Act of 1991; the Age Discrimination in Employment
Act of 1967, as amended (including the Older Workers Benefit Protection Act); the Equal Pay Act of 1963, as amended; the Americans with Disabilities Act of 1990; the Family and Medical Leave Act of 1993; the Worker Adjustment Retraining and
Notification Act; the Employee Retirement Income Security Act of 1974; the Rehabilitation Act; the Sarbanes-Oxley Act; the Fair Credit Reporting Act; the Equal Pay Act; the National Labor Relations Act; to the

 
extent permitted by applicable law, any whistleblower, relator, False Claims Act or qui tam claims and/or any personal right to recovery under such claims; the Occupational Safety and Health Act;
any applicable Executive Order Programs; the Fair Labor Standards Act; any claims arising under any other federal, state or local civil or human rights law, or under any other local, state, or federal law, regulation or ordinance; or under any
public policy, contract or tort, or under common law; or arising under any policies, practices or procedures of the Company; or any claim for wrongful discharge, breach of contract, infliction of emotional distress, defamation; or any claim for
costs, fees, or other expenses, including attorneys’ fees incurred in these matters) (all of the foregoing collectively referred to herein as the “Claims”). 

3. I represent that I have made no assignment or transfer of any right, claim, demand, cause of action, or other matter covered by
Section 2 above. 
 4. I agree that this General Release does not waive or release any rights or Claims that I may
have under the Age Discrimination in Employment Act of 1967 which arise after the date I execute this General Release. I acknowledge and agree that my separation from employment with the Company shall not serve as the basis for any claim or action
(including, any claim under the Age Discrimination in Employment Act of 1967). 
 5. I acknowledge that I am not waiving and am not being
required to waive any right that cannot be waived by private agreement under applicable law, including the right to file an administrative charge or participate in an administrative investigation or proceeding; provided, however, that I
disclaim and waive any right to share or participate in any monetary award resulting from the prosecution of such charge or investigation or proceeding. Additionally, I am not waiving (i) any right to the Accrued Obligations or any severance
benefits to which I am entitled under the Agreement, (ii) any claim relating to directors’ and officers’ liability insurance coverage or any right of indemnification under the Company’s organizational documents or otherwise to
which I am entitled, or (iii) my rights as an equity or security holder in the Company or its subsidiaries. 
 6. I expressly consent
that this General Release shall be given full force and effect according to each and all of its express terms and provisions, including those relating to unknown and unsuspected Claims (notwithstanding any state or local statute that expressly
limits the effectiveness of a general release of unknown, unsuspected and unanticipated Claims), if any, as well as those relating to any other Claims hereinabove mentioned or implied. I acknowledge and agree that this waiver is an essential and
material term of this General Release and that without such waiver the Company would not have agreed to the terms of the Agreement. I further agree that in the event I should bring a Claim seeking damages against a Released Party, or in the event I
should seek to recover against a Released Party in any Claim brought by a governmental agency on my behalf, this General Release shall serve as a complete defense to such Claims to the maximum extent permitted by law. I further agree that I am not
aware of any pending claim of the type described in Section 2 above as of the execution of this General Release. 

7. I agree that neither this General Release, nor the furnishing of the consideration for this General Release, shall be deemed or construed
at any time to be an admission by the Company, any Released Party or myself of any improper or unlawful conduct. 

  
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 8. I agree that if I violate this General Release by suing the Company or the other Released
Parties, I will pay all costs and expenses of defending against the suit incurred by the Released Parties, including reasonable attorneys’ fees. Further, I agree that I will forfeit all amounts payable by the Company pursuant to Section 8
of the Agreement if I challenge the validity of the General Release for any Claim released herein. 
 9. I agree that this General Release
and the Agreement are confidential and agree not to disclose any information regarding the terms of this General Release or the Agreement, except to my immediate family and any tax, legal or other counsel I have consulted regarding the meaning or
effect hereof or as required by law, and I will instruct each of the foregoing not to disclose the same to anyone. 
 10. Any non-disclosure provision in this General Release does not prohibit or restrict me (or my attorney) from (i) making any disclosure of information required by law, including providing truthful testimony if
required to do so by court order or legal process or (ii) responding to any inquiry about this General Release or its underlying facts and circumstances by the Securities and Exchange Commission (SEC), the Financial Industry Regulatory
Authority (FINRA), any other self-regulatory organization or any governmental entity. 
 11. I hereby acknowledge that Section 8
through Section 27 of the Agreement shall survive my execution of this General Release. 
 12. I represent that I am not aware of any
claim by me other than the claims that are released by this General Release. I acknowledge that I may hereafter discover claims or facts in addition to or different than those which I now know or believe to exist with respect to the subject matter
of the release set forth in Section 2 above and which, if known or suspected at the time of entering into this General Release, may have materially affected this General Release and my decision to enter into it. 

13. Notwithstanding anything in this General Release to the contrary, this General Release shall not relinquish, diminish, or in any way
affect any rights or claims arising out of any breach by the Company or by any Released Party of the Agreement after the date hereof. 
 14.
I hereby confirm that I have returned to the Company any and all property, tangible or intangible, relating to the Company’s and its affiliates’ and subsidiaries’ businesses which I possess or have control over as the date hereof,
including, but not limited to, all pricing files, information and data, customer and broker files, information and data, profitability, margin, operating, cost and other financial information and data, product formulation, quality assurance,
specifications and new product development information and data, company-provided credit cards, building or office access cards, keys, computer equipment, tablets, cellular telephone(s), iPhones, BlackBerry(s), and other mobile data devices,
manuals, files, documents, records, software, data bases and other data. 
 15. This General Release may not be changed orally and no
modification, amendment or waiver of any provision contained in this General Release, or any future representation, promise or condition in connection with the subject matter of this General Release shall be binding upon me unless made in writing
signed by both parties. 

  
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 16. Whenever possible, each provision of this General Release shall be interpreted in, such
manner as to be effective and valid under applicable law, but if any provision of this General Release is held to be invalid, illegal or unenforceable in any respect under any applicable law or rule in any jurisdiction, such invalidity, illegality
or unenforceability shall not affect any other provision or any other jurisdiction, but this General Release shall be reformed, construed and enforced in such jurisdiction as if such invalid, illegal or unenforceable provision had never been
contained herein. 
 17. This General Release shall be interpreted in accordance with the laws of the State of Delaware without regard to
the application of any choice-of-law rules that would result in the application of another state’s laws. 

BY SIGNING THIS GENERAL RELEASE, I REPRESENT AND AGREE THAT: 
  

	 	1.	I HAVE READ IT CAREFULLY; 

  

	 	2.	I UNDERSTAND ALL OF ITS TERMS AND KNOW THAT I AM GIVING UP IMPORTANT RIGHTS, INCLUDING BUT NOT LIMITED TO, RIGHTS UNDER THE AGE DISCRIMINATION IN EMPLOYMENT ACT OF 1967, AS AMENDED; 

 

	 	3.	I VOLUNTARILY CONSENT TO EVERYTHING IN IT; 

  

	 	4.	I HAVE BEEN ADVISED OF MY OPPORTUNITY TO CONSULT WITH AN ATTORNEY OF MY OWN CHOOSING BEFORE EXECUTING IT AND I HAVE DONE SO OR, AFTER CAREFUL READING AND CONSIDERATION, I HAVE CHOSEN NOT TO DO SO OF MY OWN VOLITION;

  

	 	5.	I HAVE HAD AT LEAST [21] [45] DAYS FROM THE DATE OF MY RECEIPT OF THIS RELEASE TO CONSIDER IT, AND ANY CHANGES MADE SINCE MY ORIGINAL RECEIPT OF THIS RELEASE HAVE NOT RESTARTED THE [21][45]-DAY REVIEW PERIOD; 

  

	 	6.	I UNDERSTAND THAT I HAVE SEVEN (7) DAYS AFTER THE EXECUTION OF THIS RELEASE TO REVOKE IT AND THAT THIS RELEASE SHALL NOT BECOME EFFECTIVE OR ENFORCEABLE UNTIL THE REVOCATION PERIOD HAS EXPIRED; 

 

	 	7.	I HAVE SIGNED THIS GENERAL RELEASE KNOWINGLY AND VOLUNTARILY AND WITH THE ADVICE OF ANY COUNSEL RETAINED TO ADVISE ME WITH RESPECT TO IT; AND 

 

	 	8.	I AGREE THAT THE PROVISIONS OF THIS GENERAL RELEASE MAY NOT BE AMENDED, WAIVED, CHANGED OR MODIFIED EXCEPT BY AN INSTRUMENT IN WRITING SIGNED BY AN AUTHORIZED REPRESENTATIVE OF THE COMPANY AND BY ME. 

  
 4 

									
	SIGNED:	 	 	  		  	DATED:	  	 

  
 5

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