Document:

ecol_Ex10_1

		
			Exhibit 10.1
		

		
			US ECOLOGY, INC.
		

		
			Management Incentive Plan 
		

		
			 
		

		
			I.     PURPOSE
		

		
			The US Ecology, Inc. Amended and Restated Omnibus Incentive Plan authorizes the Compensation Committee (“Committee”) of the Board of Directors (“Board”) of US Ecology, Inc. (“Company”) to grant performance-based awards denominated in cash in such amounts and subject to such terms and conditions as the Committee may determine. The US Ecology, Inc. Management Incentive Plan (“Plan”) provides a variable component of compensation for certain Team Members for achievement of objectives (“Plan Objectives” and each, a “Plan Objective”) set by the Committee for the Company’s fiscal year (“Plan Year”). The Plan is designed to align the interests of Team Members with those of stockholders and attract, motivate and retain key Team Members critical to the long-term success of the Company.
		

		
			 
		

		
			II.    ADMINISTRATION
		

		
			The administrator of the Plan shall be the Committee; hereinafter referred to as “Administrator”. The Administrator shall have full power, discretion and authority to, among other things, interpret the Plan, verify all amounts paid under the Plan, and establish rules and procedures for its administration, as deemed necessary and appropriate. The Administrator may rely on opinions, reports or statements of the Company’s officers, public accountants and other professionals. The calculation of any amounts to be paid under the Plan shall be performed by the Company’s Vice President and Corporate Controller and submitted by the Chief Executive Officer (“CEO”) to the Administrator for approval.  Any interpretation of the Plan or act of the Administrator, or its designee, in administering the Plan, shall be final and binding.  
		

		
			 
		

		
			No member of the Board shall be liable for any action, interpretation or construction made in good faith with respect to the Plan.  The Company shall indemnify, to the fullest extent permitted by law, each member of its Board who may become liable in any civil action or proceeding with respect to decisions made relating to the Plan.
		

		
			 
		

		
			III.   PERFORMANCE PERIOD
		

		
			The Plan’s performance period shall be the Plan Year, which runs January 1 through December 31.
		

		
			 
		

		
			IV.   PLAN OBJECTIVES
		

		
			Awards under the Plan are based on the attainment of Plan Objectives established for the Plan Year. Plan Objective achievement will be determined by the Administrator in its absolute discretion.  
		

		
			 
		

		
			V.    ELIGIBILITY
		

		
			Eligibility to participate in the Plan is limited to designated Team Members (each a “Participant”) as approved by the CEO and shall be evidenced by direct correspondence from the CEO (“Participant Notification Letter”). 
		

		
			 
		

		
			To be eligible to receive an award under the Plan, a Participant must have been employed by the Company (i) on a full-time basis during the Plan Year and (ii) on the date of any payment under the Plan, except as otherwise provided for in this Plan or when such requirement is waived by the CEO.    
		

		
			

		 

		

			 

		

		

			 

		

		

		
			 
		

		
			a.    New Hire/Rehire — A Participant whose employment with the Company began during the Plan Year shall be eligible for an award on a pro-rata basis, provided the CEO has approved participation and other conditions of the Plan are satisfied.  An award will be pro-rated based upon the number of calendar days the Participant was employed in an eligible position during the Plan Year.  In the case of rehires, there shall be no credit for prior service, unless otherwise approved in writing by the CEO.
		

		
			 
		

		
			b.    Leave of Absence  —Provided other requirements of the Plan are satisfied; a Participant who is on an approved leave of absence for thirteen (13) weeks or more will be eligible for a pro-rated award. An award will be pro-rated by excluding the number of calendar days the Participant was on leave during the Plan Year. Military leaves of absence are waived from pro-ration.
		

		
			 
		

		
			c.     Promotion — If a Participant is promoted to an eligible position or from one eligible position to another eligible position with a higher award potential during the Plan Year, the award will be calculated based on the annualized base pay and target percentage in effect as of December 15.
		

		
			 
		

		
			d.    Demotion – If a Participant is demoted from an eligible position or from one eligible position to another eligible position with a lower award potential during the Plan Year, the award will be calculated based on the annualized base pay and target percentage in effect as of December 15.  
		

		
			 
		

		
			e.    Transition Between Incentive Bonus Plans – If a Participant moves from one incentive plan to another, awards are calculated based on the calendar days in each eligible position and the target incentive amount, plan objective and weights applicable during the Participant’s tenure in each applicable position.  
		

		
			 
		

		
			f.     Removal from Plan — A Participant may be removed from the Plan or an award adjusted, including elimination of any right to an award under the Plan, for insubordination, misconduct, malfeasance, or any formal disciplinary action taken by the Company during the Plan Year or prior to payment.
		

		
			 
		

		
			VI.   INCENTIVE AWARD
		

		
			The Administrator shall establish the Plan Objectives that must be achieved for a Participant to receive payment of all or a portion of his/her target incentive amount, which amount is the product of the Participant’s annual salary and an established percentage (“Target Incentive”), established by the CEO.  
		

		
			 
		

		
			Payments under the Plan, if any, shall be made to a Participant upon certification by the CEO that such payments are authorized, and all applicable criteria have been satisfied.  Payments shall be made as soon as practicable after approval and availability of the Company’s final audited Plan Year financial statements.
		

		
			 
		

		
			VII. PLAN OBJECTIVES
		

		
			Plan Objectives fall into one of four categories:  a) Financial  (60% of Target Incentive),  b) Individual Performance  (20% of Target Incentive), c) Health and Safety (10% of Target Incentive), and d) Compliance (10% of Target Incentive).  Plan Objectives are independent and mutually exclusive from each other, so that the applicable percentage of the Target Incentive may be earned if one Plan Objective is met, even if the threshold performance is not met for another Plan Objective. 
		

		
			 
		

		
			
		

		
			

		 

		

			2

		

		

			 

		

		

		
			a.    Financial – The Financial Plan Objective is based on the Plan Year’s actual consolidated operating income before Plan expenses. The target amount is set and approved by the Administrator (“Consolidated Operating Income Target”).  Achievement will be determined by comparing the Plan Year’s actual financial results (based on audited financial information) to the Consolidated Operating Income Target.  Achievement of the Consolidated Operating Income Target will be weighted at 60% of a Participant’s Target Incentive.    
		

		
			 
		

		
			The Administrator, in its sole discretion, may include or exclude certain non-recurring or special transactions from calculated operating income for purposes of determining the amount of an award under the Plan. 
		

		
			 
		

		
			The portion of a Participant’s Target Incentive he or she may receive based on operating income results (“Finance Target Incentive”) is scalable. Upon achieving 85% of the Consolidated Operating Income Target the earned Finance Target Incentive shall be 50%.  For every percentage point achievement over 85% of the Consolidated Operating Income Target, up to and including 100%, a Participant shall earn an additional 3.33% of the Finance Target Incentive.  Upon 100% achievement of the Consolidated Operating Income Target, 100% of the Finance Target Incentive shall be available to a Participant.  
		

		
			 
		

		
			If the Consolidated Operating Income Target is exceeded, a Participant shall be eligible for an additional amount, calculated by multiplying the Participant’s Target Incentive by 6.67% for every 1% increase over the Consolidated Operating Income Target (“Additional Finance Incentive”). The Additional Finance Incentive is capped at one times the Participant’s Target Incentive, and will be reached at 115% of the Consolidated Operating Income Target.   
		

		
			 
		

		
			By way of example only, a Participant with an annual base salary of $100,000 who has a Target Incentive of 20% would receive the following amounts based on various levels of achievement. 
		

		
			 
		

		
			EXAMPLE
		

		
			 
		

			
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						CONSOLIDATED OPERATING INCOME TARGET

				
	
					
						(WEIGHTED 60% OF TARGET INCENTIVE)

				
	
					
						Achievement

					
					
						% of
Award

					
					
						Cumulative

					
					
						Payout

					
					
						Achievement

					
					
						% of
Award

					
					
						Cumulative

					
					
						Payout

				
	
					
						 

					
					
						92%

					
					
						3.33%

					
					
						73.33%

					$
8,800
				
	
					
						84%

					
					
						0%

					
					
						0%

					
					
						$0

					
					
						93%

					
					
						3.33%

					
					
						76.67%

					$
9,200
				
	
					
						85%

					
					
						0.00%

					
					
						50.00%

					
					
						$6,000

					
					
						94%

					
					
						3.33%

					
					
						80.00%

					$
9,600
				
	
					
						86%

					
					
						3.33%

					
					
						53.33%

					
					
						$6,400

					
					
						95%

					
					
						3.33%

					
					
						83.33%

					$
10,000
				
	
					
						87%

					
					
						3.33%

					
					
						56.67%

					
					
						$6,800

					
					
						96%

					
					
						3.33%

					
					
						86.67%

					$
10,400
				
	
					
						88%

					
					
						3.33%

					
					
						60.00%

					
					
						$7,200

					
					
						97%

					
					
						3.33%

					
					
						90.00%

					$
10,800
				
	
					
						89%

					
					
						3.33%

					
					
						63.33%

					
					
						$7,600

					
					
						98%

					
					
						3.33%

					
					
						93.33%

					$
11,200
				
	
					
						90%

					
					
						3.33%

					
					
						66.67%

					
					
						$8,000

					
					
						99%

					
					
						3.33%

					
					
						96.67%

					$
11,600
				
	
					
						91%

					
					
						3.33%

					
					
						70.00%

					
					
						$8,400

					
					
						100%

					
					
						3.33%

					
					
						100.00%

					$
12,000
				

		
			 
		

		
			
		

		
			

		 

		

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			Assuming 95% achievement of the Consolidated Operating Income Target, the Participant in this example would be entitled to $10,000, calculated as follows:
		

		
			 
		

			
					
						 

					
					
						OPERATING INCOME

				
	
					
						TARGET

				
	
					
						Annual Salary

					
					
						$100,000 

				
	
					
						Target Incentive

					
					
						X 20%

				
	
					
						Target Incentive Award

					
					
						$20,000 

				
	
					
						Financial Objective Weight

					
					
						X 60%

				
	
					
						Weighted Target Incentive Award

					
					
						$12,000 

				
	
					
						Cumulative Award Percent Earned

					
					
						X 83.33%

				
	
					
						Earned Award

					
					
						$10,000 

				

		
			 
		

		
			Assuming instead a 105% achievement of the Consolidated Operating Income Target, the Participant would be entitled to an Additional Finance Incentive of $6,670 and a total earned amount of $18,670, calculated as follows: 
		

		
			 
		

			
					
						 

					
					
						OPERATING INCOME

				
	
					
						TARGET

				
	
					
						Annual Salary

					
					
						$100,000 

				
	
					
						Target Incentive

					
					
						X 20%

				
	
					
						Target Incentive Award

					
					
						$20,000 

				
	
					
						Financial Objective Weight

					
					
						X 60%

				
	
					
						Weighted Target Incentive Award

					
					
						$12,000 

				
	
					
						Cumulative Award Percent Earned

					
					
						X 100.00%

				
	
					
						Earned Award

					
					
						$12,000 

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						ADDITIONAL FINANCE
INCENTIVE

				
	
					
						Target Incentive

					
					
						$20,000 

				
	
					
						Cumulative Excess Percentage (6.67%  X 5) 

					
					
						X  33.35%

				
	
					
						Additional Finance Incentive Award

					
					
						$6,670 

				
	
					
						 

					
					
						 

				
	
					
						Finance Target Incentive

					
					
						$12,000 

				
	
					
						Additional Finance Incentive

					
					
						$6,670 

				
	
					
						Earned Award

					
					
						$18,670 

				

		
			 
		

		
			

		 

		

			4

		

		

			 

		

		

		
			Assuming instead a 145% achievement of the Operating Income Target, the Participant would be entitled to an Additional Finance Incentive of $20,000 and a total earned amount of $32,000, calculated as follows:
		

		
			 
		

			
					
						 

					
						 

					
					
						 

				
	
					
						 

					
					
						ADDITIONAL
FINANCE INCENTIVE

				
	
					
						Target Incentive

					
					
						$20,000 

				
	
					
						Cumulative Excess Percentage (6.67% X 45)

					
					
						X  300.15%

				
	
					
						Additional Finance Incentive Award

					
					
						$60,030 

				
	
					
						Additional Finance Incentive Award Cap (0.20 x $100,000)

					
					
						($20,000)

				
	
					
						Excess Additional Finance Incentive Award Disallowed

					
					
						$40,030 

				
	
					
						 

					
					
						 

				
	
					
						Finance Target Incentive

					
					
						$12,000 

				
	
					
						Additional Finance Incentive

					
					
						$20,000 

				
	
					
						Earned Award

					
					
						$32,000 

				

		
			 
		

		
			b.    Individual Performance - Up to an additional 20% of a Participant’s Target Incentive shall be awarded, at the sole discretion of the Administrator (“Individual Performance Incentive”) based on the following Plan Objectives. 
		

		
			 
		

		
			i.      Achieving established objectives that align with the Company’s Strategic Outcomes (10% Weight)
		

		
			 
		

		
			ii.     Leadership Excellence and Engagement (5% Weight)
		

		
			 
		

		
			iii.     Humble, Hungry, & Smart (HHS) Role Model and Leader (5% Weight).    
		

		
			 
		

		
			This metric is independent so that a percentage of the Individual Performance Incentive may be earned independent and mutually exclusive of achievement of any other Plan Objective.
		

		
			 
		

		
			c.     Health and Safety - The metrics for this Plan Objective are identified below and are weighted cumulatively at 10% of a Participant’s Target Incentive.  Each metric is independent and mutually exclusive from the other metrics so that a percentage of the Target Incentive related to Health and Safety may be earned independent of achievement of any other Health and Safety metric or other Plan Objective.
		

		
			 
		

		
			i.      Total Recordable Incident Rate (“TRIR”)  (2% Weight) – The Target Incentive related to TRIR shall be earned if the Company-wide metric, as set and approved by the Administrator, is achieved as det ermined by the Administrator.    
		

		
			 
		

		
			ii.    Days Away Restricted Time (“DART”) (3% Weight) – The Target Incentive related to DART shall be earned if the Company-wide metric, as set and approved by the Administrator, is achieved as determined by the Administrator.
		

		
			 
		

		
			

		 

		

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			iii.    Lost Time Incident (“LTI”) (5% Weight) - The Target Incentive related to LTI shall be earned if the Company-wide metric, as set and approved by the Administrator, is achieved as determined by the Administrator. 
		

		
			 
		

		
			d.    Compliance – The metric for this Plan Objective is the Company’s avoidance of Notices of Violation or Enforcement with monetary penalties during the Plan Year and is weighted at 10% of a Participant’s Target Incentive.  The Target Incentive related to Compliance (“Compliance Target Incentive”) shall be earned based on a determination by the Administrator, taking into consideration, among other things, the dollar amount of a monetary penalty paid (or accrued under generally accepted accounting principles – “GAAP”) in the Plan Year, severity of the Notices of Violation or Enforcement, regulatory basis for penalty and respective fact patterns.  This metric is independent so that a percentage of the Compliance Target Incentive may be earned independent and mutually exclusive of achievement of any other Plan Objective. 
		

		
			 
		

		
			The CEO will include in each Participant Letter the applicable Target Incentive, Plan Objectives, metrics, weights and such other information as may be determined.
		

		
			 
		

		
			VIII.       MISCELLANEOUS
		

		
			 
		

		
			a.    Interests Not Transferable – Any interest of a Participant under the Plan may not be voluntarily sold, transferred, alienated, assigned or encumbered, other than by will or pursuant to the laws of descent and distribution.  Notwithstanding the foregoing, if a Participant dies during the Plan Year, or after the Plan Year and prior to payment of an award, then a pro-rata portion of the award to which the Participant would have been eligible absent death shall be paid to the deceased’s Participant’s estate.  Payment shall be based on the number of calendar days the Participant was employed in an eligible position during the Plan Year and shall be made at the time other Participants are paid. The requirement that the Participant be a  Team Member on that date of payment shall be waived.
		

		
			 
		

		
			b.    Withholding Taxes and liabilities – The Company shall withhold taxes and Participant liabilities payable under the Plan as required by law, including, but not limited to, country, federal, state, provincial, city and/or local taxes, pensions, FICA and Medicare. Additionally, the Company will withhold from any amounts payable under the Plan the applicable contribution for the Participant’s retirement plans.  
		

		
			 
		

		
			c.     No Right of Employment – Nothing in this Plan will be construed as creating any contract of employment or conferring upon any Participant any right to continue in the employ or other service of the Company or limit in any way the right of Company to change such person’s compensation or other benefits or to terminate the employment or other service of such person with or without cause. 
		

		
			 
		

		
			d.    No Representations – The Company does not represent or guarantee that any federal or state income, payroll, personal property or other tax consequence will result from participation in the Plan. 
		

		
			 
		

		
			e.    Section Headings – The section headings contained herein are for convenience only and, in the event of any conflict, the text of the Plan, rather than the section headings, will control.
		

		
			 
		

		
			

		 

		

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			f.     Severability – In the event any provision of the Plan shall be held to be illegal or invalid for any reason, such illegality or invalidity shall not affect the remaining parts of the Plan and the Plan shall be construed and enforced as if such illegal or invalid provisions had never been contained in the Plan.
		

		
			 
		

		
			g.    Invalidity – If any term or provision contained herein is to any extent invalid or unenforceable, such term or provision shall be reformed so that it is valid, and such invalidity or unenforceability shall not affect any other provision or part hereof.
		

		
			 
		

		
			h.    Amendment, Modification or Termination  – The Administrator reserves the right to unilaterally amend, modify or terminate the Plan at any time as it deems necessary or advisable. 
		

		
			 
		

		
			i.     Applicable Law – Except to the extent superseded by the laws of the United States, the laws of the State of Idaho, without regard to its conflicts of laws principles, shall govern in all matters relating to the Plan.  
		

		
			 
		

		
			j.     Effect on Other Plans – Payments or benefits provided to a Participant under any stock, deferred compensation, savings, retirements or other Team Member benefit plan are governed solely by the terms of each of such plans.
		

		
			 
		

		
			k.    Translation – In the event this Plan is translated into a language other than English, to the extent permitted by applicable law in the relevant jurisdiction, the English language version of the Plan shall prevail in case of any discrepancy.
		

		
			 
		

		
			l.     Effective Date – The Plan is effective as of January 1, 2020 and remains valid until the Company amends, modifies or terminates the Plan.   
		

		 

		

			7ecol_Ex10_2

		

			 

		

		
			Exhibit 10.2
		

		
			US ECOLOGY, INC.
		

		
			RESTRICTED SHARE AGREEMENT
		

		
			THIS RESTRICTED SHARE AGREEMENT is entered into as of __________ (the “Grant Date”), between US Ecology, Inc., a Delaware corporation (the “Company”), and __________ (the “Grantee”).
		

		
			WHEREAS, the Company has adopted the Amended and Restated US Ecology, Inc. Omnibus Incentive Plan (the “Plan”) pursuant to which Restricted Shares may be granted; and  
		

		
			WHEREAS, the Compensation Committee of the Company’s Board of Directors (the “Committee”) has determined that it is in the best interests of the Company and its stockholders to grant the award of Restricted Shares provided for herein.
		

		
			NOW, THEREFORE, the parties hereto, intending to be legally bound, agree as follows: 
		

		
			1. Grant of Restricted Shares.
		

		
			Pursuant to Section 6.5 of the Plan, the Company hereby grants to the Grantee an Award of X,XXX Restricted Shares (the “Award”). The Restricted Shares granted pursuant to the Award shall be administered by the Company or its designated agent and shall be subject to the execution and return of this Agreement by the Grantee (or the Grantee’s estate, if applicable) to the Company as provided in Section 5 hereof.  Capitalized terms that are used but not defined herein have the meanings ascribed to them in the Plan.
		

		
			2. Restrictions on Transfer.
		

		
			Except as permitted by the Committee in accordance with Section 13 of the Plan, no Restricted Share or other right or interest of the Grantee hereunder shall be pledged, encumbered, or hypothecated to, or in favor of, or subject to any lien, obligation, or liability of the Grantee to, any party, other than the Company or any Subsidiary, or assigned or transferred by the Grantee otherwise than by will or the laws of descent and distribution, and all rights hereunder shall be exercisable during the lifetime of the Grantee only by the Grantee or his or her guardian or legal representative.
		

		
			3. Lapse of Restrictions Generally. 
		

		
			Except as provided in Section 4 hereof, the Restricted Shares granted hereunder shall vest as follows:
		

			
	
			
				 ·
			

			
	
			
			X,XXX of the Restricted Shares shall vest on __________;

			
	
			
				 ·
			

			
	
			
			X,XXX of the Restricted Shares shall vest on __________; and

			
	
			
				 ·
			

			
	
			
			X,XXX of the Restricted Shares shall vest on __________.  

		
			 
		

		
			In each case, the Restricted Shares shall be settled as soon as reasonably practicable, and in no event more than thirty (30) days following the vesting date.
		

		
			4. Effect of Certain Terminations of Employment. 
		

		
			If the Grantee’s employment is terminated at any time (i) due to the Grantee’s death or Disability; or (ii) within eighteen (18) months following a Change in Control, by the Company or a Subsidiary without Cause or by the Grantee for Good Reason, all Restricted Shares which have not vested in accordance with Section 3 shall vest as of the date of such termination and shall be settled as soon as reasonably practicable thereafter, and in no event more than thirty (30) days following the vesting date.  Upon the Grantee’s termination of employment for any other reason, the unvested portion of the Restricted Shares shall be forfeited with no compensation due to the Grantee. 
		

		
			

		 

		

			 

		

		

			 

		

		

		
			5. Execution of Award Agreement. 
		

		
			The Restricted Shares granted to the Grantee pursuant to the Award shall be subject to the Grantee’s execution and return of this Agreement to the Company or its designee (including by electronic means, if so provided) no later than the earlier of (i) __________; and (ii) the date that is immediately prior to the date that the Restricted Shares vest pursuant to Section 3 or 4 hereof (the “Grantee Return Date”); provided that if the Grantee dies before the Grantee Return Date, this requirement shall be deemed to be satisfied if the executor or administrator of the Grantee’s estate executes and returns this Agreement to the Company or its designee no later than ninety (90) days following the Grantee’s death (the “Executor Return Date”). If this Agreement is not so executed and returned on or prior to the Grantee Return Date or the Executor Return Date, as applicable, the Restricted Shares evidenced by this Agreement shall be forfeited, and neither the Grantee nor the Grantee’s heirs, executors, administrators and successors shall have any rights with respect thereto. 
		

		
			6.  Delivery of Restricted Shares.
		

		
			The Company may settle vested Restricted Shares by providing the Grantee with either evidence of book entry Shares or stock certificates with respect to such vested Restricted Shares, with the form of settlement to be determined by the Company in its sole discretion.  
		

		
			7. Stockholder Rights.
		

		
			The Grantee shall have all rights as a stockholder with respect to any Restricted Shares (including, without limitation, any voting, dividend or derivative or other similar rights).
		

		
			8. No Right to Continued Service.  
		

		
			Neither the Plan nor this Agreement shall be construed as giving the Grantee any right to be retained in the employ or service of the Company or any Subsidiary.
		

		
			9. Withholding of Taxes. 
		

		
			The Grantee must make appropriate arrangements for the payment of any taxes relating to the Restricted Shares granted hereunder. The Company is authorized to withhold from any payment relating to the Restricted Shares, including from a distribution of Shares or any payroll or other payment to the Grantee, amounts of withholding and other taxes due in connection with the Restricted Shares, and to take such other action as the Committee may deem advisable to enable the Company and the Grantee to satisfy obligations for the payment of withholding taxes and other tax obligations relating to the Restricted Shares. This authority shall include the ability to withhold or receive Shares or other property and to make cash payments in respect thereof in satisfaction of the Grantee's tax obligations and to require the Grantee to enter into elections in respect of taxes. Withholding of taxes in the form of Shares shall not occur at a rate that exceeds the minimum required statutory federal and state withholding rates. If the Grantee is subject to the reporting requirements of Section 16 of the Exchange Act, the Grantee shall have the right to pay all or a portion of any withholding or other taxes due in connection with the Restricted Shares by directing the Company to withhold Shares that would otherwise be received in connection with the Restricted Shares up to the minimum required withholding amount.
		

		
			10. Compliance with Securities Law.
		

		
			10.1      No Shares may be issued hereunder if the Company shall at any time determine that to do so would (i) violate the listing requirements of an applicable securities exchange, or adversely affect the registration or qualification of the Company's Shares under any state or federal law or regulation, or (ii) require the consent or approval of any regulatory body or the satisfaction of withholding tax or other withholding liabilities. In any of the events referred to in clause (i) or clause (ii) above, the issuance of such Shares shall be suspended and shall not be effective unless and until such 

		 

		

			2

		

		

			 

		

withholding, listing, registration, qualifications or approval shall have been effected or obtained free of any conditions not acceptable to the Company in its sole discretion, notwithstanding any termination of the Award or any portion of the Award during the period when issuance has been suspended.
		

		
			10.2      The Committee may require, as a condition to the issuance of Shares hereunder, representations, warranties and agreements to the effect that such Shares are being purchased or acquired by the Grantee for investment only and without any present intention to sell or otherwise distribute such Shares and that the Grantee will not dispose of such Shares in transactions which, in the opinion of counsel to the Company, would violate the registration provisions of the Securities Act and the rules and regulations thereunder.
		

		
			11.  Amendment.  
		

		
			The Committee may waive any conditions or rights under, or amend, alter, suspend, discontinue, or terminate, this Agreement; provided, however, that without the consent of the Grantee, no such amendment, alteration, suspension, discontinuation, or termination of this Agreement may materially and adversely affect the rights of the Grantee under this Agreement, except insofar as any such action is necessary to ensure the Agreement’s compliance with applicable law or regulation or the listing requirements of an applicable securities exchange, including, without limitation, Code Section 409A.
		

		
			12. Severability. 
		

		
			Should any provision of this Agreement be held by a court of competent jurisdiction to be unenforceable or invalid for any reason, the remaining provisions of this Agreement shall not be affected by such holding and shall continue in full force in accordance with their terms. 
		

		
			13. Governing Law. 
		

		
			To the extent that Federal laws do not otherwise control, the validity and construction of this shall be construed and enforced in accordance with the laws of the State of Delaware, but without giving effect to the choice of law principles thereof.
		

		
			14.  Recoupment.
		

		
			This Award shall be subject to mandatory repayment by the Grantee to the Company pursuant to the terms of any applicable Company "clawback" or recoupment policy.
		

		
			15. Restricted Shares Subject to Plan.
		

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

		
			16. Successors and Assigns.  
		

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

		
			17. Section 409A.
		

		
			This Agreement is intended to comply with, or be exempt from, Code Section 409A and all regulations, guidance, compliance programs and other interpretative authority thereunder, and all provisions of this 

		 

		

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Agreement shall be applied and interpreted in a manner consistent therewith. Notwithstanding anything contained herein to the contrary, in the event the Award is subject to Code Section 409A, the Committee may, in its sole discretion and without the Grantee’s prior consent, amend this Agreement or take any other actions as deemed appropriate by the Committee to (i) exempt this Agreement from the application of Code Section 409A, (ii) preserve the intended tax treatment of the Award or (iii) comply with the requirements of Code Section 409A. In the event that the Grantee is a "specified employee" within the meaning of Code Section 409A, and a payment or benefit provided for under this Agreement would be subject to additional tax under Code Section 409A if such payment or benefit is paid within six (6) months after the Grantee’s separation from service (within the meaning of Code Section 409A), then such payment or benefit shall not be paid (or commence) during the six (6) month period immediately following the Grantee’s separation from service except as provided in the immediately following sentence. In such an event, any payments or benefits that would otherwise have been made or provided during such six (6) month period and which would have incurred such additional tax under Code Section 409A shall instead be paid to the Grantee in a lump-sum cash payment, without interest, on the earlier of (i) the first business day of the seventh month following the Grantee's separation from service or (ii) the tenth business day following the Grantee’s death. Notwithstanding the foregoing, none of the Company, its Affiliates or their respective directors, officers, employees or advisors will be held liable for any taxes, interest or other amounts owed by the Grantee as a result of the application of Code Section 409A. Each payment payable hereunder shall be treated as a separate payment in a series of payments within the meaning of, and for purposes of, Code Section 409A.
		

		
			18. Resolution of Disputes. 
		

		
			Any dispute or disagreement which may arise under, or as a result of, or in any way relate to, the interpretation, construction or application of this Agreement shall be determined by the Committee. Any determination made hereunder shall be final, binding and conclusive on the Grantee, the Grantee’s heirs, executors, administrators and successors, and the Company for all purposes. 
		

		
			19. Entire Agreement. 
		

		
			This Agreement and the applicable terms and conditions of the Plan constitute the entire understanding between the Grantee and the Company, and supersede all other agreements, whether written or oral, with respect to the Award. In the event of a conflict between this Agreement and the Plan, this Agreement shall govern.
		

		
			20. Headings. 
		

		
			The headings of this Agreement are inserted for convenience only and do not constitute a part of this Agreement. 
		

		
			21. Counterparts. 
		

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

		
			22. Acceptance.
		

		
			The Grantee hereby acknowledges receipt of a copy of the Plan and this Agreement. The Grantee has read and understands the terms and provisions hereof and thereof, and accepts the Restricted Shares subject to all of the terms and conditions of the Plan and this Agreement. The Grantee acknowledges that there may be adverse tax consequences upon the vesting,  settlement or disposition of the Restricted Shares and that the Grantee has been advised to consult a tax advisor prior to such vesting, settlement or disposition.
		

		
			

		 

		

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			IN WITNESS WHEREOF, this Agreement has been executed effective __________.
		

		
			 
		

			
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						US ECOLOGY, INC.

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						By:

					
					
						 

				
	
					
						 

					
					
						Its:

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						GRANTEE

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						Name:

					
					
						 

				
	
					
						 

					
					
						Address:

					
					
						 

				
	
					
						 

					
					
						TaxID#:

					
					
						 

				

		
			 
		

		 

		

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