Document:

Exhibit
4.3

 

 WARRANT AGENCY AGREEMENT

 

WARRANT
AGENCY AGREEMENT, dated as of October 18, 2022 (“Agreement”), between Novo Integrated Sciences, Inc., a Nevada corporation
(the “Company”), and Pacific Stock Transfer Company (the “Warrant
Agent”).

 

W
I T N E S S E T H

 

WHEREAS,
pursuant to an offering by the Company of Warrants (as defined below), the Company wishes to issue Warrants in book entry form entitling
the respective holders of the Warrants (the “Holders”, which term shall include a Holder’s transferees, successors
and assigns and “Holder” shall include, if the Warrants are held in “street name”, a Participant (as defined
below) or a designee appointed by such Participant) to purchase an aggregate of up to 8,000,000 shares of the Company’s common
stock (the “Common Stock”) underlying the Warrants upon the terms and subject to the conditions hereinafter set forth
(the “Offering”);

 

WHEREAS,
the Company wishes the Warrant Agent to act on behalf of the Company, and the Warrant Agent is willing so to act, in connection with
the issuance, registration, transfer, exchange, exercise and replacement of the Warrants.

 

NOW,
THEREFORE, in consideration of the premises and the mutual agreements herein set forth, the parties hereby agree as follows:

 

Section
1. Certain Definitions. For purposes of this Agreement, the following terms have the meanings indicated:

 

(a)
“Affiliate” has the meaning ascribed to it in Rule 12b-2 under the Securities Exchange Act of 1934, as amended (the
“Exchange Act”).

 

(b)
“Business Day” means any day except any Saturday, any Sunday, any day which is a federal legal holiday in the United
States or any day on which the Nasdaq Stock Market is authorized or required by law or other governmental action to close.

 

(c)
“Close of Business” on any given date means 5:00 p.m., New York City time, on such date; provided, however,
that if such date is not a Business Day it means 5:00 p.m., New York City time, on the next succeeding Business Day.

 

(e)
“Person” means an individual, corporation, association, partnership, limited liability company, joint venture, trust,
unincorporated organization, government or political subdivision thereof or governmental agency or other entity.

 

(f)
“Warrants” means (i) Common Stock Purchase Warrants of the Company with a term of exercise of three years following
the Initial Exercise Date and (ii) Common Stock Purchase Warrants of the Company with a term of exercise of five years following the
Initial Exercise Date.

 

(g)
“Warrant Certificate” means a certificate in substantially the form attached as Exhibit 1-A hereto, representing
such number of Warrant Shares (as defined below) as is indicated therein, provided that any reference to the delivery of a Warrant Certificate
in this Agreement shall include delivery of notice from the Depositary or a Participant (each as defined below) of the transfer or exercise
of the Warrant in the form of a Global Warrant (as defined below).

 

(h)
“Warrant Shares” means the shares of Common Stock underlying the Warrants and issuable upon exercise of the Warrants.

 

All
other capitalized terms used but not otherwise defined herein shall have the meaning ascribed to such terms in the Warrant Certificates.

 

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Section
2. Appointment of Successor Warrant Agent. The Company hereby appoints the Warrant Agent to act as agent for the Company in accordance
with the express terms or conditions hereof (and no implied terms and conditions), and the Warrant Agent hereby accepts such appointment.
The Company may from time to time appoint such Co-Warrant Agents as it may, in its sole discretion, deem necessary or desirable upon
ten (10) calendar days’ prior written notice to the Warrant Agent. The Warrant Agent shall have no duty to supervise, and shall
in no event be liable for, the acts or omissions of any such Co-Warrant Agent. In the event the Company appoints one or more Co-Warrant
Agents, the respective duties of the Warrant Agent and any Co-Warrant Agent shall be as the Company shall reasonably determine, provided
that such duties and determination are consistent with the terms and provisions of this Agreement.

 

Section
3. Global Warrants.

 

(a)
The Warrants shall be issuable in book entry form (the “Global Warrants” and, each, a “Global Warrant”).
All of the Warrants shall initially be represented by one or more Global Warrants, deposited with the Warrant Agent and registered in
the name of Cede & Co., a nominee of The Depository Trust Company (the “Depositary”), or as otherwise directed
by the Depositary. Ownership of beneficial interests in the Warrants shall be shown on, and the transfer of such ownership shall be effected
through, records maintained by (i) the Depositary or its nominee for each Global Warrant or (ii) institutions that have accounts with
the Depositary (such institution, with respect to a Warrant in its account, a “Participant”). For purposes of Regulation
SHO, a holder whose interest in a Global Warrant is a beneficial interest in certificate(s) representing such Warrant held in book-entry
form through the Depositary shall be deemed to have exercised its interest in such Warrant upon instructing its broker that is a Participant
to exercise its interest in such Warrant, provided that in each such case payment of the applicable aggregate Exercise Price (other than
in the case of a cashless exercise) is received within the earlier of (i) two (2) trading days and (ii) the number of trading days comprising
the Standard Settlement Period, in each case following such instruction. As used herein, “Standard Settlement Period” means
the standard settlement period, expressed in a number of trading days, on the Company’s primary trading market with respect to
the Common Stock as in effect on the date of delivery of the Exercise Notice.

 

(b)
If the Depositary subsequently ceases to make its book-entry settlement system available for the Warrants, the Company may instruct the
Warrant Agent regarding other arrangements for book-entry settlement. In the event that the Warrants are not eligible for, or it is no
longer necessary to have the Warrants available in, book-entry form, the Warrant Agent shall provide written instructions to the Depositary
to deliver to the Warrant Agent for cancellation each Global Warrant, and the Company shall instruct the Warrant Agent in writing to
deliver to each Holder a Warrant Certificate.

 

(c)
A Holder has the right to elect at any time or from time to time a Warrant Exchange (as defined below) pursuant to a Warrant Certificate
Request Notice (as defined below). Upon written notice by a Holder to the Warrant Agent for the exchange of some or all of such Holder’s
Global Warrants for a Warrant Certificate, evidencing the same number of Warrants, which request shall be in the form attached hereto
as Annex A (a “Warrant Certificate Request Notice” and the date of delivery of such Warrant Certificate Request
Notice by the Holder, the “Warrant Certificate Request Notice Date” and the deemed surrender upon delivery by the
Holder of a number of Global Warrants for the same number of Warrants evidenced by a Warrant Certificate, a “Warrant Exchange”),
the Warrant Agent shall promptly effect the Warrant Exchange and shall promptly issue and deliver, at the expense of the Company, to
the Holder a Warrant Certificate, for such number of Warrants in the name set forth in the Warrant Certificate Request Notice. Such Warrant
Certificate shall be dated the original issue date of the Warrants, shall be executed by manual signature by an authorized signatory
of the Company, shall be in the form attached hereto as Exhibit 1-A. In connection with a Warrant Exchange, the Company agrees
to deliver, or to direct the Warrant Agent to deliver, the Warrant Certificate to the Holder within three (3) Business Days of the Warrant
Certificate Request Notice pursuant to the delivery instructions in the Warrant Certificate Request Notice (“Warrant Certificate
Delivery Date”). If the Company fails for any reason to deliver, or cause the delivery by the Warrant Agent, to the Holder
the Warrant Certificate subject to the Warrant Certificate Request Notice by the Warrant Certificate Delivery Date, the Company shall
pay to the Holder, in cash, as liquidated damages and not as a penalty, for each $1,000 of Warrant Shares evidenced by such Warrant Certificate
(based on the VWAP (as defined in the Warrants) of the Common Stock on the Warrant Certificate Request Notice Date), $10 per Business
Day for each Business Day after such Warrant Certificate Delivery Date until such Warrant Certificate, as applicable, is delivered or,
prior to delivery of such Warrant Certificate, the Holder rescinds such Warrant Exchange. In no event shall the Warrant Agent be obligated
to pay any amounts pursuant to this Section 3(c), such obligations shall be solely that of the Company and not that of the Warrant Agent.
The Company covenants and agrees that, upon the date of delivery of the Warrant Certificate Request Notice, the Holder shall be deemed
to be the holder of the Warrant Certificate, as applicable, and, notwithstanding anything to the contrary set forth herein, the Warrant
Certificate shall be deemed for all purposes to contain all of the terms and conditions of the Warrants, evidenced by such Warrant Certificate,
and the terms of this Agreement, other than Sections 3(c) and 9 herein, shall not apply to the Warrants evidenced by the Warrant Certificate.
In the event a beneficial owner requests a Warrant Exchange, upon issuance of the paper Warrant Certificate, the Warrant Agent shall
act as warrant agent and the terms of the paper Warrant Certificate so issued shall exclusively govern in respect thereof.

 

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Section
4. Form of Warrant Certificates. The Warrant Certificate, together with the form of election to purchase Common Stock (“Exercise
Notice”) and the form of assignment to be printed on the reverse thereof, shall be in the form of Exhibit 1-A hereto.

 

Section
5. Countersignature and Registration. The Warrant Certificates shall be executed on behalf of the Company by its Chief Executive
Officer, Chief Financial Officer or Vice President, either manually or by facsimile signature which shall be attested by the Secretary
or an Assistant Secretary of the Company, either manually or by facsimile signature. The Warrant Certificates shall be countersigned
by the Warrant Agent either manually or by facsimile signature and shall not be valid for any purpose unless so countersigned. In case
any officer of the Company who shall have signed any of the Warrant Certificates shall cease to be such officer of the Company before
countersignature by the Warrant Agent and issuance and delivery by the Company, such Warrant Certificates, nevertheless, may be countersigned
by the Warrant Agent, issued and delivered with the same force and effect as though the person who signed such Warrant Certificate had
not ceased to be such officer of the Company; and any Warrant Certificate may be signed on behalf of the Company by any person who, at
the actual date of the execution of such Warrant Certificate, shall be a proper officer of the Company to sign such Warrant Certificate,
although at the date of the execution of this Agreement any such person was not such an officer.

 

The
Warrant Agent will keep or cause to be kept, at its office located at the address provided in Section 19 hereof, books for registration
and transfer of the Warrant Certificates issued hereunder. Such books shall show the names and addresses of the respective Holders of
the Warrant Certificates, the number of warrants evidenced on the face of each of such Warrant Certificate and the date of each of such
Warrant Certificate. The Warrant Agent will create a special account for the issuance of Warrant Certificates.

 

Section
6. Transfer, Split Up, Combination and Exchange of Warrant Certificates; Mutilated, Destroyed, Lost or Stolen Warrant Certificates.
With respect to the Global Warrant, subject to the provisions of the Warrant Certificate, and the last sentence of this first paragraph
of Section 6 and subject to applicable law, rules or regulations, or any “stop transfer” instructions the Company may give
to the Warrant Agent, at any time after the closing date of the Offering, and at or prior to the Close of Business on the Termination
Date (as such term is defined in the Warrant Certificate), any Warrant Certificate or Warrant Certificates or Global Warrant or Global
Warrants may be transferred, split up, combined or exchanged for another Warrant Certificate or Warrant Certificates or Global Warrant
or Global Warrants, entitling the Holder to purchase a like number of shares of Common Stock as the Warrant Certificate or Warrant Certificates
or Global Warrant or Global Warrants surrendered then entitled such Holder to purchase. Any Holder desiring to transfer, split up, combine
or exchange any Warrant Certificate or Global Warrant shall make such request in writing delivered to the Warrant Agent, and shall surrender
the Warrant Certificate or Warrant Certificates, together with the required form of assignment and certificate duly executed and properly
completed and such other documentation as the Warrant Agent may reasonably request, to be transferred, split up, combined or exchanged
at the office of the Warrant Agent located at the address provided in Section 19 hereof, provided that no such surrender of a Warrant
Certificate is applicable to the Holder of a Global Warrant. Any requested transfer of Warrants, whether in book-entry form or certificate
form, shall be accompanied by evidence of authority of the party making such request that may be reasonably required by the Warrant Agent.
Thereupon the Warrant Agent shall, subject to the last sentence of this first paragraph of Section 6, countersign and deliver to the
Person entitled thereto a Warrant Certificate or Warrant Certificates, as the case may be, as so requested. The Company may require payment
from the Holder of a sum sufficient to cover any tax or governmental charge that may be imposed in connection with any transfer, split
up, combination or exchange of Warrant Certificates. The Warrant Agent shall not have any duty or obligation to take any action under
any section of this Agreement that requires the payment of taxes and/or charges unless and until it is satisfied that all such payments
have been made.

 

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Upon
receipt by the Warrant Agent of evidence reasonably satisfactory to it of the loss, theft, destruction or mutilation of a Warrant Certificate,
which evidence shall include an affidavit of loss, or in the case of mutilated certificates, the certificate or portion thereof remaining,
and, in case of loss, theft or destruction, of indemnity or security reasonably acceptable to the Company and the Warrant Agent, and
satisfaction of any other reasonable requirements established by Section 8-405 of the Uniform Commercial Code as in effect in the State
of Delaware, and reimbursement to the Company and the Warrant Agent of all reasonable expenses incidental thereto, and upon surrender
to the Warrant Agent and cancellation of the Warrant Certificate if mutilated, the Company will make and deliver a new Warrant Certificate
of like tenor to the Warrant Agent for delivery to the Holder in lieu of the Warrant Certificate so lost, stolen, destroyed or mutilated.

 

Section
7. Exercise of Warrants; Exercise Price; Termination Date.

 

(a)
The Warrants shall be exercisable commencing on the Initial Exercise Date. The Warrants shall cease to be exercisable and shall terminate
and become void, and all rights thereunder and under this Agreement shall cease, at or prior to the Close of Business on the Termination
Date (as such term is defined in the Warrant Certificate). Subject to the foregoing and to Section 7(b) below, the Holder of a Warrant
may exercise the Warrant, in whole or in part upon surrender of the Warrant Certificate, if required, with the properly completed and
duly executed Exercise Notice and payment of the Exercise Price (unless exercised via a Cashless Exercise (as such term is defined in
the Warrant Certificate)), which may be made, at the option of the Holder, by wire transfer or by certified or official bank check in
United States dollars, to the Warrant Agent at the office of the Warrant Agent located at the address provided in Section 19 hereof.
In the case of the Holder of a Global Warrant, the Holder shall deliver the duly executed Exercise Notice and the payment of the Exercise
Price as described herein. Notwithstanding any other provision in this Agreement, a holder whose interest in a Global Warrant is a beneficial
interest in a Global Warrant held in book-entry form through the Depositary (or another established clearing corporation performing similar
functions), shall effect exercises by delivering to the Depositary (or such other clearing corporation, as applicable) the appropriate
instruction form for exercise, complying with the procedures to effect exercise that are required by the Depositary (or such other clearing
corporation, as applicable). The Company acknowledges that the bank accounts maintained by the Warrant Agent in connection with the services
provided under this Agreement will be in its name and that the Warrant Agent may receive investment earnings in connection with the investment
at Warrant Agent risk and for its benefit of funds held in those accounts from time to time. Neither the Company nor the Holders will
receive interest on any deposits or Exercise Price. No ink-original Exercise Notice shall be required, nor shall any medallion guarantee
(or other type of guarantee or notarization) of any Exercise Notice be required.

 

(b)
Upon receipt of an Exercise Notice for a Cashless Exercise, the Warrant Agent shall deliver a copy of the Exercise Notice to the Company
and request from the Company and the Company shall promptly calculate and transmit to the Warrant Agent in writing the number of Warrant
Shares issuable in connection with such Cashless Exercise. The Warrant Agent shall have no obligation under this Agreement to calculate
the number of Warrant Shares issuable in connection with a Cashless Exercise nor shall the Warrant agent have any duty or obligation
to investigate or confirm whether the Company’s determination of the number of Warrant Shares issuable upon such exercise, pursuant
to this Section 7, is accurate or correct.

 

(c)
Upon the Warrant Agent’s receipt of a Warrant Certificate, at or prior to the Close of Business on the Termination Date set forth
in such Warrant Certificate, with the executed Exercise Notice and payment of the Exercise Price for the shares to be purchased (other
than in the case of a Cashless Exercise) and an amount equal to any applicable tax, or governmental charge referred to in Section 6 by
wire transfer, or by certified check or bank draft payable to the order of the Company (or, in the case of the Holder of a Global Warrant,
the delivery of the executed Exercise Notice and the payment of the Exercise Price (other than in the case of a Cashless Exercise) and
any other applicable amounts as set forth herein), the Warrant Agent shall cause the Warrant Shares underlying such Warrant Certificate,
or Global Warrant, to be delivered to or upon the order of the Holder of such Warrant Certificate, or Global Warrant, registered in such
name or names as may be designated by such Holder, no later than the Warrant Share Delivery Date (as such term is defined in the Warrant
Certificate). If the Company is then a participant in the DWAC system of the Depositary and either (A) there is an effective registration
statement permitting the issuance of the Warrant Shares to or resale of the Warrant Shares by Holder or (B) the Warrant is being exercised
via Cashless Exercise, then the certificates for Warrant Shares shall be transmitted by the Warrant Agent to the Holder by crediting
the account of the Holder’s broker with the Depositary through its DWAC system. For the avoidance of doubt, if the Company becomes
obligated to pay any amounts to any Holders pursuant to Section 2(d)(i) or 2(d)(iv) of the Warrant Certificate, such obligation shall
be solely that of the Company and not that of the Warrant Agent. Notwithstanding anything else to the contrary in this Agreement, except
in the case of a Cashless Exercise, if any Holder fails to duly deliver payment to the Warrant Agent of an amount equal to the aggregate
Exercise Price of the Warrant Shares to be purchased upon exercise of such Holder’s Warrant as set forth in Section 7(a) hereof
by the Warrant Share Delivery Date, the Warrant Agent will not obligated to deliver such Warrant Shares (via DWAC or otherwise) until
following receipt of such payment, and the applicable Warrant Share Delivery Date shall be deemed extended by one day for each day (or
part thereof) until such payment is delivered to the Warrant Agent.

 

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(d)
The Warrant Agent shall deposit all funds received by it in payment of the Exercise Price for all Warrants in the account of the Company
maintained with the Warrant Agent for such purpose (or to such other account as directed by the Company in writing) and shall advise
the Company via email at the end of each day on which exercise notices are received or funds for the exercise of any Warrant are received
of the amount so deposited to its account.

 

(e)
In case the Holder of any Warrant Certificate shall exercise fewer than all Warrants evidenced thereby, upon the request of the Holder,
a new Warrant Certificate evidencing the number of Warrants equivalent to the number of Warrants remaining unexercised may be issued
by the Warrant Agent to the Holder of such Warrant Certificate or to his duly authorized assigns in accordance with Section 2(d)(ii)
of the Warrant Certificate, subject to the provisions of Section 6 hereof.

 

Section
8. Cancellation and Destruction of Warrant Certificates. All Warrant Certificates surrendered for the purpose of exercise, transfer,
split up, combination or exchange shall, if surrendered to the Company or to any of its agents, be delivered to the Warrant Agent for
cancellation or in canceled form, or, if surrendered to the Warrant Agent, shall be canceled by it, and no Warrant Certificates shall
be issued in lieu thereof except as expressly permitted by any of the provisions of this Agreement. The Company shall deliver to the
Warrant Agent for cancellation and retirement, and the Warrant Agent shall so cancel and retire, any other Warrant Certificate purchased
or acquired by the Company otherwise than upon the exercise thereof. The Warrant Agent shall destroy such canceled Warrant Certificates
in accordance with its procedures, subject to any applicable law, rule or regulation requiring the Warrant Agent to retain such canceled
certificates.

 

Section
9. Certain Representations; Reservation and Availability of Shares of Common Stock or Cash.

 

(a)
This Agreement has been duly authorized, executed and delivered by the Company and, assuming due authorization, execution and delivery
hereof by the Warrant Agent, constitutes a valid and legally binding obligation of the Company enforceable against the Company in accordance
with its terms, and the Warrants have been duly authorized, executed and issued by the Company and, assuming due execution thereof by
the Warrant Agent pursuant hereto and payment therefor by the Holders, constitute valid and legally binding obligations of the Company
enforceable against the Company in accordance with their terms and entitled to the benefits hereof; in each case except as enforceability
may be limited by bankruptcy, insolvency, reorganization, moratorium and other similar laws relating to or affecting creditors’
rights generally or by general equitable principles (regardless of whether such enforceability is considered in a proceeding in equity
or at law).

 

(b)
As of the date hereof, the authorized capital stock of the Company consists of (i) 499,000,000 shares of Common Stock, of which 31,180,603
shares of Common Stock are issued and outstanding, and 8,445,264 shares of Common
Stock are reserved for issuance upon exercise of the Warrants, (ii) 1,000,000 shares of preferred stock, none of which are issued and
outstanding; (iii) 5,732,950 shares of Common Stock are available for issuance to employees, consultants and directors pursuant to the
Company’s stock incentive plans, under which options to purchase 2,164,235 shares
are issued and outstanding; and (iv) 4,149,633 shares of Common Stock are reserved for exchange
for NHL Exchangeable Special Shares of Novo Healthnet Limited, a wholly owned subsidiary of the Company, which were issued in connection
with various acquisitions. There are no other outstanding obligations, warrants, options or other rights to subscribe for or purchase
from the Company any class of capital stock of the Company.

 

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(c)
The Company covenants and agrees that it will cause to be reserved and kept available out of its authorized and unissued shares of Common
Stock or its authorized and issued shares of Common Stock held in its treasury, free from preemptive rights, the number of shares of
Common Stock that will be sufficient to permit the exercise in full of all outstanding Warrants.

 

(d)
The Company further covenants and agrees that it will pay when due and payable any and all federal and state transfer taxes and charges
which may be payable in respect of the original issuance or delivery of the Warrant Certificates or certificates evidencing Common Stock
upon exercise of the Warrants. The Company shall not, however, be required to pay any tax or governmental charge which may be payable
in respect of any transfer involved in the transfer or delivery of Warrant Certificates or the issuance or delivery of certificates for
Common Stock in a name other than that of the Holder of the Warrant Certificate evidencing Warrants surrendered for exercise or to issue
or deliver any certificate for shares of Common Stock upon the exercise of any Warrants until any such tax or governmental charge shall
have been paid (any such tax or governmental charge being payable by the Holder of such Warrant Certificate at the time of surrender)
or until it has been established to the Company’s and the Warrant Agent’s reasonable satisfaction that no such tax or governmental
charge is due.

 

Section
10. Common Stock Record Date. Each Person in whose name any certificate for shares of Common Stock is issued (or to whose broker’s
account is credited shares of Common Stock through the DWAC system) upon the exercise of Warrants shall for all purposes be deemed to
have become the holder of record for the Common Stock represented thereby on, and such certificate shall be dated, the date on which
submission of the Exercise Notice was made, provided that the Warrant Certificate evidencing such Warrant was duly surrendered (but only
if required herein) and payment of the Exercise Price (and any applicable transfer taxes) was received on or prior to the Warrant Share
Delivery Date; provided, however, that, if the date of submission of the Exercise Notice is a date upon which the Common
Stock transfer books of the Company are closed, such Person shall be deemed to have become the record holder of such shares on, and such
certificate shall be dated, the next succeeding day on which the Common Stock transfer books of the Company are open.

 

Section
11. Adjustment of Exercise Price, Number of Shares of Common Stock or Number of the Company Warrants. The Exercise Price, the
number of shares covered by each Warrant and the number of Warrants outstanding are subject to adjustment from time to time as provided
in Section 3 of the Warrant Certificate. In the event that at any time, as a result of an adjustment made pursuant to Section 3 of the
Warrant Certificate, the Holder of any Warrant thereafter exercised shall become entitled to receive any shares of capital stock of the
Company other than shares of Common Stock, thereafter the number of such other shares so receivable upon exercise of any Warrant shall
be subject to adjustment from time to time in a manner and on terms as nearly equivalent as practicable to the provisions with respect
to the shares contained in Section 3 of the Warrant Certificate, and the provisions of Sections 7, 9 and 13 of this Agreement with respect
to the shares of Common Stock shall apply on like terms to any such other shares. All Warrants originally issued by the Company subsequent
to any adjustment made to the Exercise Price pursuant to the Warrant Certificate shall evidence the right to purchase, at the adjusted
Exercise Price, the number of shares of Common Stock purchasable from time to time hereunder upon exercise of the Warrants, all subject
to further adjustment as provided herein.

 

Section
12. Certification of Adjusted Exercise Price or Number of Shares of Common Stock. Whenever the Exercise Price or the number of
shares of Common Stock issuable upon the exercise of each Warrant Certificate is adjusted as provided in Section 11 or 13, the Company
shall (a) promptly prepare a certificate setting forth the Exercise Price of each Warrant Certificate, as so adjusted, and a brief, reasonably
detailed statement of the facts accounting for such adjustment, (b) promptly file with the Warrant Agent and with each transfer agent
for the Common Stock a copy of such certificate and (c) instruct the Warrant Agent, at the Company’s expense, to send a brief summary
thereof to each Holder of a Warrant Certificate. The Warrant Agent shall be fully protected in relying on such certificate and on any
adjustment or statement therein contained and shall have no duty or liability with respect to and shall not be deemed to have knowledge
of any such adjustment or any such event unless and until it shall have received such certificate.

 

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Section
13. Fractional Shares of Common Stock.

 

(a)
The Company shall not issue fractions of Warrants or distribute Warrant Certificates which evidence fractional Warrants. Whenever any
fractional Warrant would otherwise be required to be issued or distributed, the actual issuance or distribution shall reflect a rounding
up of such fraction to the nearest whole Warrant.

 

(b)
The Company shall not issue fractions of shares of Common Stock upon exercise of Warrants or distribute stock certificates which evidence
fractional shares of Common Stock. Whenever any fraction of a share of Common Stock would otherwise be required to be issued or distributed,
the actual issuance or distribution in respect thereof shall be made in accordance with Section 2(d)(v) of the Warrant Certificate.

 

Section
14. Concerning the Warrant Agent.

 

(a)
The Warrant Agent accepts its obligations herein set forth upon the terms and conditions hereof. The Company agrees to pay to the Warrant
Agent, pursuant to the fee schedule mutually agreed upon by the parties hereto and attached hereto as Schedule 1, for all services rendered
by it hereunder and, from time to time, its reasonable expenses and counsel fees and other disbursements incurred in the preparation,
delivery, negotiation, amendment, administration and execution of this Agreement and the exercise and performance of its duties hereunder.

 

(b)
The Company covenants and agrees to indemnify and to hold the Warrant Agent harmless against any costs, expenses (including reasonable
fees and expenses of its legal counsel), losses or damages, which may be paid, incurred or suffered by or to which it may become subject,
arising from or out of, directly, any claims or liability resulting from its actions or omissions as Warrant Agent pursuant hereto; provided,
that such covenant and agreement does not extend to, and the Warrant Agent shall not be indemnified with respect to, such costs, expenses,
losses and damages incurred or suffered by the Warrant Agent as a result of, or arising out of, its gross negligence, bad faith, or willful
misconduct (each as determined by a final non-appealable court of competent jurisdiction). Notwithstanding anything in this Agreement
to the contrary, any liability of the Warrant Agent under this Agreement will be limited to the amount of annual fees paid by the Company
to the Warrant Agent during the twelve (12) months immediately preceding the event for which recovery from the Warrant Agent is being
sought. The costs and expenses incurred by the Warrant Agent in enforcing this right of indemnification shall be paid by the Company.

 

(c)
Upon the assertion of a claim for which the Company may be required to indemnify the Warrant Agent, the Warrant Agent shall promptly
notify the Company of such assertion, and shall keep the other party reasonably advised with respect to material developments concerning
such claim. However, failure to give such notice shall not affect the Warrant Agent’s right to and the Company’s obligations
for indemnification hereunder unless such failure to give a prompt notice puts the Company at disadvantage.

 

(d)
Neither party to this Agreement shall be liable to the other party for any consequential, indirect, punitive, special or incidental damages
under any provisions of this Agreement or for any consequential, indirect, punitive, special or incidental damages arising out of any
act or failure to act hereunder even if that party has been advised of or has foreseen the possibility of such damages.

 

(e)
Notwithstanding anything contained herein to the contrary, the rights and obligations of the parties set forth in this Section 14 shall
survive termination of this Agreement, the expiration of the Warrants or the resignation, removal or replacement of the Warrant Agent.

 

Section
15. Purchase or Consolidation or Change of Name of Warrant Agent. Any Person into which the Warrant Agent or any successor Warrant
Agent may be merged or with which it may be consolidated, or any Person resulting from any merger or consolidation to which the Warrant
Agent or any successor Warrant Agent shall be party, or any Person succeeding to the stock transfer or other shareholder services business
of the Warrant Agent or any successor Warrant Agent, shall be the successor to the Warrant Agent under this Agreement without the execution
or filing of any paper or any further act on the part of any of the parties hereto, provided that such Person would be eligible for appointment
as a successor Warrant Agent under the provisions of Section 17. In case at the time such successor Warrant Agent shall succeed to the
agency created by this Agreement any of the Warrant Certificates shall have been countersigned but not delivered, any such successor
Warrant Agent may adopt the countersignature of the predecessor Warrant Agent and deliver such Warrant Certificates so countersigned;
and in case at that time any of the Warrant Certificates shall not have been countersigned, any successor Warrant Agent may countersign
such Warrant Certificates either in the name of the predecessor Warrant Agent or in the name of the successor Warrant Agent; and in all
such cases such Warrant Certificates shall have the full force provided in the Warrant Certificates and in this Agreement.

 

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In
case at any time the name of the Warrant Agent shall be changed and at such time any of the Warrant Certificates shall have been countersigned
but not delivered, the Warrant Agent may adopt the countersignature under its prior name and deliver Warrant Certificates so countersigned;
and in case at that time any of the Warrant Certificates shall not have been countersigned, the Warrant Agent may countersign such Warrant
Certificates either in its prior name or in its changed name; and in all such cases such Warrant Certificates shall have the full force
provided in the Warrant Certificates and in this Agreement.

 

Section
16. Duties of Warrant Agent. The Warrant Agent undertakes the duties and obligations imposed by this Agreement upon the following
express terms and conditions (and no implied terms and conditions), by all of which the Company, by its acceptance hereof, shall be bound
and shall not assume any obligations or relationship of agency or trust with any of the Holders of the Warrants or any other Person:

 

(a)
The Warrant Agent may consult with legal counsel selected by it (who may be legal counsel for the Company), and the opinion and advice
of such counsel shall be full and complete authorization and protection to the Warrant Agent as to any action taken or omitted by it
in good faith and in accordance with such opinion or advice.

 

(b)
Whenever in the performance of its duties under this Agreement the Warrant Agent shall deem it necessary or desirable that any fact or
matter be proved or established by the Company prior to taking or suffering any action hereunder, such fact or matter (unless other evidence
in respect thereof be herein specifically prescribed) may be deemed to be conclusively proved and established by a certificate signed
by the Chief Executive Officer, Chief Financial Officer or Vice President of the Company; and such certificate shall be full authorization
and protection to the Warrant Agent and the Warrant Agent shall incur no liability for or in respect of any action taken, suffered in
good faith or omitted to be taken by it under the provisions of this Agreement in reliance upon such certificate. The Warrant Agent shall
have no duty to act without such a certificate as set forth in this Section 16(b).

 

(c)
Subject to the limitation set forth in Section 14, the Warrant Agent shall be liable hereunder only for its own gross negligence, bad
faith or willful misconduct (each as determined in a final, non-appealable judgment of a court of competent jurisdiction).

 

(d)
The Warrant Agent shall not be liable for or by reason of any of the statements of fact or recitals contained in this Agreement or in
the Warrant Certificates (including in the case of any notation in book entry form to reflect ownership), except its countersignature
thereof, by the Company or be required to verify the same, but all such statements and recitals are and shall be deemed to have been
made by the Company only.

 

(e)
The Warrant Agent shall not have any liability or be under any responsibility in respect of the validity of this Agreement or the execution
and delivery hereof (except the due execution hereof by the Warrant Agent) or in respect of the validity or execution of any Warrant
Certificate (except its countersignature thereof); nor shall it be responsible for any breach by the Company of any covenant or condition
contained in this Agreement or in any Warrant Certificate; nor shall it be responsible for the adjustment of the Exercise Price or the
making of any change in the number of shares of Common Stock required under the provisions of Section 11 or 13 or responsible for the
manner, method or amount of any such change or adjustment or the ascertaining of the existence of facts that would require any such adjustment
or change (except with respect to the exercise of Warrants evidenced by Warrant Certificates after actual notice of any adjustment of
the Exercise Price); nor shall it by any act hereunder be deemed to make any representation or warranty as to the authorization or reservation
of any shares of Common Stock to be issued pursuant to this Agreement or any Warrant Certificate or as to whether any shares of Common
Stock will, when issued, be duly authorized, validly issued, fully paid and nonassessable.

 

(f)
Each party hereto agrees that it will perform, execute, acknowledge and deliver or cause to be performed, executed, acknowledged and
delivered all such further and other acts, instruments and assurances as may reasonably be required by the other party hereto for the
carrying out or performing by any party of the provisions of this Agreement.

 

    	8

     

    

 

(g)
The Warrant Agent is hereby authorized to accept instructions with respect to the performance of its duties hereunder from the Chief
Executive Officer, Chief Financial Officer or Vice President of the Company, and to apply to such officers for advice or instructions
in connection with its duties, and it shall not be liable and shall be indemnified and held harmless for any action taken or suffered
to be taken by it in good faith in accordance with instructions of any such officer, provided Warrant Agent carries out such instructions
without gross negligence, bad faith or willful misconduct.

 

(h)
The Warrant Agent and any shareholder, director, officer or employee of the Warrant Agent may buy, sell or deal in any of the Warrants
or other securities of the Company or become pecuniarily interested in any transaction in which the Company may be interested, or contract
with or lend money to the Company or otherwise act as fully and freely as though it were not Warrant Agent under this Agreement. Nothing
herein shall preclude the Warrant Agent from acting in any other capacity for the Company or for any other Person.

 

(i)
The Warrant Agent may execute and exercise any of the rights or powers hereby vested in it or perform any duty hereunder either itself
or by or through its attorney or agents, and the Warrant Agent shall not be answerable or accountable for any act, default, neglect or
misconduct of any such attorney or agents or for any loss to the Company resulting from any such act, default, neglect or misconduct,
absent gross negligence or bad faith in the selection and continued employment thereof (which gross negligence and bad faith must be
determined by a final, non-appealable judgment of a court of competent jurisdiction).

 

(j)
The Warrant Agent shall not be obligated to expend or risk its own funds or to take any action that it believes would expose or subject
it to expense or liability or to a risk of incurring expense or liability, unless it has been furnished with assurances of repayment
or indemnity satisfactory to it.

 

(k)
The Warrant Agent shall not be liable or responsible for any failure of the Company to comply with any of its obligations relating to
any registration statement filed with the Securities and Exchange Commission or this Agreement, including without limitation obligations
under applicable regulation or law.

 

(l)
The Warrant Agent may rely on and be fully authorized and protected in acting or failing to act upon (a) any guaranty of signature by
an “eligible guarantor institution” that is a member or participant in the Securities Transfer Agents Medallion Program or
other comparable “signature guarantee program” or insurance program in addition to, or in substitution for, the foregoing;
or (b) any law, act, regulation or any interpretation of the same even though such law, act, or regulation may thereafter have been altered,
changed, amended or repealed.

 

(m)
In the event the Warrant Agent believes any ambiguity or uncertainty exists hereunder or in any notice, instruction, direction, request
or other communication, paper or document received by the Warrant Agent hereunder, the Warrant Agent, may, in its sole discretion, refrain
from taking any action, and shall be fully protected and shall not be liable in any way to Company, the holder of any Warrant or any
other Person for refraining from taking such action, unless the Warrant Agent receives written instructions signed by the Company which
eliminates such ambiguity or uncertainty to the satisfaction of Warrant Agent.

 

This
Section 16 shall survive the expiration of the Warrants, the termination of this Agreement and the resignation, replacement or removal
of the Warrant Agent. The costs and expenses incurred in enforcing this right of indemnification shall be paid by the Company.

 

    	9

     

    

 

Section
17. Change of Warrant Agent. The Warrant Agent may resign and be discharged from its duties under this Agreement upon 30 days’
notice in writing sent to the Company and, in the event that the Warrant Agent or one of its affiliates is not also the transfer agent
for the Company, to each transfer agent of the Common Stock. In the event the transfer agency relationship in effect between the Company
and the Warrant Agent terminates, the Warrant Agent will be deemed to have resigned automatically and be discharged from its duties under
this Agreement as of the effective date of such termination, and the Company shall be responsible for sending any required notice thereunder.
The Company may remove the Warrant Agent or any successor Warrant Agent upon 30 days’ notice in writing, sent to the Warrant Agent
or successor Warrant Agent, as the case may be, and to each transfer agent of the Common Stock, and to the Holders of the Warrant Certificates.
If the Warrant Agent shall resign or be removed or shall otherwise become incapable of acting, the Company shall appoint a successor
to the Warrant Agent. If the Company shall fail to make such appointment within a period of 30 days after such removal or after it has
been notified in writing of such resignation or incapacity by the resigning or incapacitated Warrant Agent or by the Holder of a Warrant
Certificate (who shall, with such notice, submit his Warrant Certificate for inspection by the Company), then the Holder of any Warrant
Certificate may apply to any court of competent jurisdiction for the appointment of a new Warrant Agent, provided that, for purposes
of this Agreement, the Company shall be deemed to be the Warrant Agent until a new warrant agent is appointed. Any successor Warrant
Agent, whether appointed by the Company or by such a court, shall be a Person, other than a natural person, organized and doing business
under the laws of the United States or of a state thereof, in good standing, which is authorized under such laws to exercise stock transfer
powers and is subject to supervision or examination by federal or state authority and which has at the time of its appointment as Warrant
Agent a combined capital and surplus of at least $50,000,000. After appointment, the successor Warrant Agent shall be vested with the
same powers, rights, duties and responsibilities as if it had been originally named as Warrant Agent without further act or deed; but
the predecessor Warrant Agent shall deliver and transfer to the successor Warrant Agent any property at the time held by it hereunder,
and execute and deliver any further assurance, conveyance, act or deed necessary for the purpose but such predecessor Warrant Agent shall
not be required to make any additional expenditure (without prompt reimbursement by the Company) or assume any additional liability in
connection with the foregoing. Not later than the effective date of any such appointment, the Company shall file notice thereof in writing
with the predecessor Warrant Agent and each transfer agent of the Common Stock, and mail a notice thereof in writing to the Holders of
the Warrant Certificates. However, failure to give any notice provided for in this Section 17, or any defect therein, shall not affect
the legality or validity of the resignation or removal of the Warrant Agent or the appointment of the successor Warrant Agent, as the
case may be.

 

Section
18. Issuance of New Warrant Certificates. Notwithstanding any of the provisions of this Agreement or of the Warrants to the contrary,
the Company may, at its option, issue new Warrant Certificates evidencing Warrants in such form as may be approved by its Board of Directors
to reflect any adjustment or change in the Exercise Price per share and the number or kind or class of shares of stock or other securities
or property purchasable under the several Warrant Certificates made in accordance with the provisions of this Agreement.

 

Section
19. Notices. Notices or demands authorized by this Agreement to be given or made (i) by the Warrant Agent or by the Holder of
any Warrant Certificate to or on the Company, (ii) by the Company or by the Holder of any Warrant Certificate to or on the Warrant Agent
or (iii) by the Company or the Warrant Agent to the Holder of any Warrant Certificate, shall be deemed given when in writing (a) on the
date delivered, if delivered personally, (b) on the first Business Day following the deposit thereof with Federal Express or another
recognized overnight courier, if sent by Federal Express or another recognized overnight courier, (c) on the fourth Business Day following
the mailing thereof with postage prepaid, if mailed by registered or certified mail (return receipt requested), and (d) the date of transmission,
if such notice or communication is delivered via facsimile or e-mail attachment at or prior to 5:30 p.m. (New York City time) on a Business
Day and (e) the next Business Day after the date of transmission, if such notice or communication is delivered via facsimile or e-mail
attachment on a day that is not a Business Day or later than 5:30 p.m. (New York City time) on any Business Day, in each case to the
parties at the following addresses (or at such other address for a party as shall be specified by like notice):

 

	 	(a)	If
    to the Company, to:
	 	 	 
	 	 	Novo
Integrated Sciences, Inc.
	 	 	11120
NE 2nd Street, Suite 100
	 	 	Bellevue,
Washington 98004
	 	 	Attn:
Robert Mattacchione
	 	 	Email:
robert.mattacchione@novointegrated.com
	 	 	 
	 	 	With
a copy (which shall not constitute notice) to:
	 	 	 
	 	 	Anthony
L.G., PLLC
	 	 	625
Flagler Drive, Suite 600
	 	 	West
Palm Beach, FL 33401
	 	 	Attention:
Laura Anthony, Esq. and Craig D. Linder, Esq.
	 	 	Email:
LAnthony@anthonypllc.com and CLinder@anthonypllc.com

 

    	10

     

    

 

	 	(b)	If
    to the Warrant Agent, to:
	 	 	 
	 	 	Pacific
Stock Transfer Company
	 	 	6725
Via Austi Parkway, Suite 300
	 	 	Las
Vegas, Nevada 89119
	 	 	Attn:
Joslyn Claiborne
	 	 	Email:
info@pacificstocktransfer.com

 

For
any notice delivered by email to be deemed given or made, such notice must be followed by notice sent by overnight courier service to
be delivered on the next Business Day following such email, unless the recipient of such email has acknowledged via return email receipt
of such email.

 

(c)
If to the Holder of any Warrant Certificate, to the address of such Holder as shown on the registry books of the Company. Any notice
required to be delivered by the Company to the Holder of any Warrant may be given by the Warrant Agent on behalf of the Company. Notwithstanding
any other provision of this Agreement, where this Agreement provides for notice of any event to a Holder of any Warrant, such notice
shall be sufficiently given if given to the Depositary (or its designee) pursuant to the procedures of the Depositary or its designee.

 

Section
20. Supplements and Amendments.

 

(a)
The Company and the Warrant Agent may from time to time supplement or amend this Agreement without the approval of any Holders of Global
Warrants in order to (i) add to the covenants and agreements of the Company for the benefit of the Holders of the Global Warrants, (ii)
to surrender any rights or power reserved to or conferred upon the Company in this Agreement, (iii) to cure any ambiguity, (iv) to correct
or supplement any provision contained herein which may be defective or inconsistent with any other provisions herein, or (v) to make
any other provisions with regard to matters or questions arising hereunder which the Company and the Warrant Agent may deem necessary
or desirable, provided that such addition, correction or surrender shall not adversely affect the interests of the Holders of the Global
Warrants or Warrant Certificates in any material respect.

 

(b)
In addition to the foregoing, with the consent of Holders of Warrants entitled, upon exercise thereof, to receive not less than a majority
of the shares of Common Stock issuable thereunder, the Company and the Warrant Agent may modify this Agreement for the purpose of adding
any provisions to or changing in any manner or eliminating any of the provisions of this Agreement or modifying in any manner the rights
of the Holders of the Global Warrants; provided, however, that no modification of the terms (including but not limited
to the adjustments described in Section 11) upon which the Warrants are exercisable or reducing the percentage required for consent to
modification of this Agreement may be made without the consent of the Holder of each outstanding warrant certificate affected thereby;
provided further, however, that no amendment hereunder shall affect any terms of any Warrant Certificate issued in a Warrant
Exchange. As a condition precedent to the Warrant Agent’s execution of any amendment, the Company shall deliver to the Warrant
Agent a certificate from a duly authorized officer of the Company that states that the proposed amendment complies with the terms of
this Section 20. No supplement or amendment to this Agreement shall be effective unless duly executed by the Warrant Agent.

 

Section
21. Successors. All covenants and provisions of this Agreement by or for the benefit of the Company or the Warrant Agent shall
bind and inure to the benefit of their respective successors and assigns hereunder.

 

Section
22. Benefits of this Agreement. Nothing in this Agreement shall be construed to give any Person other than the Company, the Holders
of Warrant Certificates and the Warrant Agent any legal or equitable right, remedy or claim under this Agreement; but this Agreement
shall be for the sole and exclusive benefit of the Company, the Warrant Agent and the Holders of the Warrant Certificates.

 

Section
23. Governing Law; Jurisdiction. This Agreement and each Warrant Certificate issued hereunder shall be governed by, and construed
in accordance with, the laws of the State of New York without giving effect to the conflicts of law principles thereof. The Company hereby
agrees that any action, proceeding or claim against it arising out of or relating in any way to this Agreement shall be brought and enforced
exclusively in the state and federal courts sitting in the City of New York. Each party hereby irrevocably submits to the exclusive jurisdiction
of the state and federal courts sitting in the City of New York, Borough of Manhattan, and irrevocably submits to such jurisdiction,
which jurisdiction shall be exclusive. The Company hereby waives any objection to such exclusive jurisdiction and that such courts represent
an inconvenient forum.

 

    	11

     

    

 

Section
24. Counterparts. This Agreement may be executed in any number of counterparts and each of such counterparts shall for all purposes
be deemed to be an original, and all such counterparts shall together constitute but one and the same instrument. A signature to this
Agreement transmitted electronically shall have the same authority, effect and enforceability as an original signature.

 

Section
25. Captions. The captions of the sections of this Agreement have been inserted for convenience only and shall not control or
affect the meaning or construction of any of the provisions hereof.

 

Section
26. Severability. Wherever possible, each provision of this Agreement shall be interpreted in such manner as to be effective and
valid under applicable law, but if any provision of this Agreement shall be prohibited by or invalid under applicable law, such provision
shall be ineffective to the extent of such prohibition or invalidity, without invalidating the remainder of such provisions or the remaining
provisions of this Agreement; provided, however, that if such prohibited and invalid provision shall adversely affect the rights, immunities,
liabilities, duties or obligations of the Warrant Agent, the Warrant Agent shall be entitled to resign immediately upon written notice
to the Company.

 

Section
27. Force Majeure. Notwithstanding anything to the contrary contained herein, the Warrant Agent will not be liable for any delays
or failures in performance resulting from acts beyond its reasonable control including, without limitation, acts of God, terrorist acts,
shortage of supply, breakdowns or malfunctions, interruptions or malfunction of computer facilities, or loss of data due to power failures
or mechanical difficulties with information storage or retrieval systems, labor difficulties, war, or civil unrest.

 

Section
28. Entire Agreement. The parties hereto acknowledge that there are no agreements or understandings, written or oral, between
them with respect to matters contemplated hereunder other than as set forth herein and the Warrant Certificates, that this Agreement
and the Warrant Certificates contain the entire agreement between them with respect to the subject matter hereof and thereof.

 

Section
29. Fees; Expenses. As consideration for the services provided by the Warrant Agent (the “Services”), the Company
shall pay to the Warrant Agent the fees set forth on Schedule 1 hereto (the “Fees”). If the Company requests
that the Warrant Agent provide additional services not contemplated hereby, the Company shall pay to the Warrant Agent fees for such
services at the Warrant Agent’s reasonable and customary rates, such fees to be governed by the terms of a separate agreement to
be mutually agreed to and entered into by the Parties at such time (the “Additional Service Fee”; together with the
Fees, the “Service Fees”).

 

(a)
The Company shall reimburse the Warrant Agent for all reasonable and documented expenses incurred by the Warrant Agent (including, without
limitation, reasonable and documented fees and disbursements of counsel) in connection with the Services (the “Expenses”);
provided, however, that the Warrant Agent reserves the right to request advance payment for any out-of-pocket expenses.
The Company agrees to pay all Service Fees and Expenses within thirty (30) days following receipt of an invoice from the Warrant Agent.

 

(b)
The Company agrees and acknowledges that the Warrant Agent may adjust the Service Fees annually, on or about each anniversary date of
this Agreement, by the annual percentage of change in the latest Consumer Price Index of All Urban Consumers United States City Average,
as published by the U.S. Department of Labor, Bureau of Labor Statistics.

 

(c)
Upon termination of this Agreement for any reason, the Warrant Agent shall assist the Company with the transfer of records of the Company
held by the Warrant Agent. The Warrant Agent shall be entitled to reasonable additional compensation and reimbursement of any Expenses
for the preparation and delivery of such records to the successor agent or to the Company, and for maintaining records and/or Stock Certificates
that are received after the termination of this Agreement (the “Record Transfer Services”).

 

[remainder
of page intentionally left blank; signature page follows]

 

    	12

     

    

 

 

IN
WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed as of the day and year first above written.

 

	 	NOVO
    INTEGRATED SCIENCES, INC.
	 	 
	 	By:	/s/
    Robert Mattacchione
	 	Name:	Robert Mattacchione
	 	Title:
    	Chief Executive Officer
	 	 
	 	PACIFIC
    STOCK TRANSFER COMPANY
	 	 
	 	By:	/s/
    William Miller
	 	Name:
    	William Miller
	 	Title:	 Chief Operating Officer

 

    	 

     

    

 

Annex
A

 

Form
of Warrant Certificate Request Notice

 

WARRANT
CERTIFICATE REQUEST NOTICE

 

To:
Pacific Stock Transfer Company, as Warrant Agent for Novo Integrated Sciences, Inc. (the
“Company”)

 

The
undersigned Holder of Novo Integrated Sciences, Inc. Common Stock Purchase Warrants (“Warrants”) in the form of [_______]
[_______] Global Warrants issued by the Company hereby elects to receive a Warrant Certificate evidencing the Warrants held by the Holder
as specified below:

 

	 	1.	Name
    of Holder of [_______] [_______] Warrants in form of Global Warrants: ___________________________
	 	 	 
	 	2.	Name
    of Holder in Warrant Certificate (if different from name of Holder of Warrants in form of Global Warrants): ________________________________
	 	 	 
	 	3.	Number
    of Warrants in name of Holder in form of Global Warrants: ___________________
	 	 	 
	 	4.	Number
    of Warrants for which Warrant Certificate shall be issued: __________________
	 	 	 
	 	5.	Number
    of Warrants in name of Holder in form of Global Warrants after issuance of Warrant Certificate, if any: ___________
	 	 	 
	 	6.	[_______]
    [_______] Warrant Certificate shall be delivered to the following address:

_____________________________________________

_____________________________________________

_____________________________________________

_____________________________________________

 

The
undersigned hereby acknowledges and agrees that, in connection with this Warrant Exchange and the issuance of the Warrant Certificate,
the Holder is deemed to have surrendered the number of Warrants in form of Global Warrants in the name of the Holder equal to the number
of Warrants evidenced by the Warrant Certificate.

 

SIGNATURE
OF HOLDER

 

	Name
of Investing Entity:
	 	 
	 	 	 
	Signature
of Authorized Signatory of Investing Entity:
	 	 
	 	 	 
	Name
of Authorized Signatory:
	 	 
	 	 	 
	Title
of Authorized Signatory:
	 	 
	 	 	 
	Date:
	 	 

 

    	 

     

    

 

Exhibit
1-A

 

Form
of Warrant Certificate

 

    	 

     

    

 

Schedule
1

 

FeesExhibit 10.1

    

     

    

    EMPLOYMENT AGREEMENT

     

    This Employment Agreement (“Agreement”) is made and entered into by and between Charah, LLC, a Kentucky
      limited liability company (the “Company”), and Jonathan Batarseh (“Employee”) effective as of October 17, 2022 (the “Effective

          Date”). Charah Solutions, Inc., a Delaware corporation and parent of the Company (the “Parent”), enters into this Agreement for the limited purposes of acknowledging and agreeing to Section

        3(c).

    

    

    1.           Employment.  During the Employment
        Period (as defined in Section 4) the Company shall employ Employee, and Employee shall serve, as Chief Financial Officer and Treasurer of the Company and the Parent and in such other position or positions as may be assigned from time to time by the
        Company.

     

    
      2.        Duties and Responsibilities of Employee.

    

     

    (a)          During the Employment Period, Employee shall devote Employee’s best efforts and full business time and attention to the
        businesses of the Parent and its direct and indirect subsidiaries as may exist from time to time, including the Company (collectively, the Parent and its direct and indirect subsidiaries are referred to as the “Company Group”) as may be
        requested by the Company from time to time. Employee’s duties and responsibilities shall include those normally incidental to the position(s) identified in Section 1, as well as such additional duties as may be assigned to Employee by the
        Company from time to time, which duties and responsibilities may include providing services to other members of the Company Group in addition to the Company. Employee may, without violating this Section 2(a): (i) as a passive investment,
        own publicly traded securities in such form or manner as will not require any services by Employee in the operation of the entities in which such securities are owned; (ii) engage in charitable and civic activities; or (iii) with the prior written
        consent of the Company, engage in other personal and passive investment activities, in each case, so long as such ownership, interests or activities do not interfere with Employee’s ability to fulfill Employee’s duties and responsibilities under
        this Agreement and are not inconsistent with Employee’s obligations to any member of the Company Group or competitive with the business of any member of the Company Group.

     

    (b)          Employee hereby represents and warrants that Employee is not the subject of, or a party to, any employment agreement,
        non-competition, non-solicitation, restrictive covenant or non-disclosure agreement, or any other agreement, obligation, restriction, or understanding that would prohibit Employee from executing this Agreement or fully performing each of Employee’s
        duties and responsibilities hereunder, or would in any manner, directly or indirectly, limit or affect any of the duties and responsibilities that may now or in the future be assigned to Employee hereunder. Employee expressly acknowledges and
        agrees that Employee is strictly prohibited from using or disclosing any confidential information belonging to any prior employer in the course of performing services for any member of the Company Group, and Employee promises that Employee shall
        not do so. Employee shall not introduce documents or other materials containing confidential information of any prior employer to the premises or property (including computers and computer systems) of any member of the Company Group.

     

    
      1

      
        

    

    (c)          Employee owes each member of the Company Group fiduciary duties (including (i) duties of loyalty and disclosure and (ii) such
        fiduciary duties that an officer of the Parent owes under the laws of the State of Delaware), and the obligations described in this Agreement are in addition to, and not in lieu of, the obligations Employee owes each member of the Company Group
        under statutory and common law.

     

    
      3.         Compensation.

    

     

    (a)          Base Salary. During the Employment Period, the Company shall pay to Employee an annualized base salary of $440,000.00
        (the “Base Salary”) payable in substantially equal installments in conformity with the Company’s customary payroll practices for similarly situated employees as may exist from time to time, but no less frequently than monthly. The Board, or
        a duly constituted and authorized committee of the Board, will review Employee’s Base Salary at least annually and may, in its sole discretion, increase, but not decrease, the Employee’s Base Salary.

     

    (b)          Short-Term Incentive Awards. Employee shall be eligible for discretionary short-term incentive compensation with a
        target short-term incentive award at least equal to 75% of Employee’s Base Salary for each calendar year that Employee is employed by the Company hereunder (the “STI Award”); provided, however,
        that the STI Award for the 2022 calendar year be $415,000.00. The performance targets that must be achieved in order to be eligible for certain short-term incentive levels shall be established by the
        Board (or a committee thereof) annually, in its sole discretion, and communicated to Employee within the first ninety (90) days of the applicable calendar year (the “STI Year”). Each STI Award, if any, shall be paid as soon as
        administratively feasible after the Board (or a committee thereof) certifies whether the applicable performance targets for the applicable STI Year have been achieved, but in no event later than March 15 following the end of such STI Year.
        Notwithstanding anything in this Section 3(b) to the contrary, no STI Award, if any, nor any portion thereof, shall be payable for any STI Year unless Employee remains continuously employed by the Company from the Effective Date through the
        date on which such STI Award is paid, except as otherwise provided in Section 7(f).

     

    (c)          Annual Equity Awards. During the Employment Period, Employee shall be eligible to receive annual equity awards under
        the Parent’s 2018 Omnibus Incentive Plan or such other equity incentive plan of the Parent as may be in effect from time to time (the “Incentive Plan”) in such amounts generally consistent with the Company’s equity award guidelines as in
        effect from time to time. All Awards granted to Employee under the Incentive Plan, if any, shall be in such amounts and on such terms and conditions as the Board or a committee thereof shall determine from time to time, and shall be subject to and
        governed by the terms and provisions of the Incentive Plan as in effect from time to time and the award agreements evidencing such awards. Nothing herein shall be construed to give Employee any rights to any amount or type of grant or award except
        as provided in an award agreement and authorized by the Board or a committee thereof.

     

    (i) Equity Buy-Out. The Company will provide a one-time grant of 175,000 Restricted Stock Units (RSUs) through the
      Incentive Plan, subject to approval by the Board or a committee thereof, the terms and conditions of the Incentive Plan and the applicable grant notice and award agreement. Twenty-five percent (25%) of the RSUs
        will vest on April 1, 2023 and the remaining seventy-five percent (75%) will vest equally on April 1, 2024, April 1, 2025, and April 1, 2026.

     

    
      2

      
        

    

    4.          Term of Employment. The term of Employee’s employment under this Agreement shall commence on the Effective Date and
        shall continue until the Agreement is terminated in accordance with any provision of Section 7. The period from the Effective Date through the termination of Employee’s employment pursuant to this Agreement, regardless of the time or reason
        for such termination, shall be referred to herein as the “Employment Period.”

     

    5.           Business Expenses. Subject to Section 23, the Company shall reimburse Employee for Employee’s reasonable
        out-of-pocket business-related expenses actually incurred in the performance of Employee’s duties under this Agreement so long as Employee timely submits all documentation for such expenses, as required by Company policy in effect from time to
        time. Any such reimbursement of expenses shall be made by the Company upon or as soon as practicable following receipt of such documentation (but in any event not later than the close of Employee’s taxable year following the taxable year in which
        the expense is incurred by Employee). In no event shall any reimbursement be made to Employee for any expenses incurred after the date of Employee’s termination of employment with the Company.

     

    
      6.         Benefits.

    

     

    (a)         During the Employment Period, Employee shall be eligible to participate in the same benefit plans and programs in which
        other similarly situated Company employees are eligible to participate, subject to the terms and conditions of the applicable plans and programs in effect from time to time. The Company shall not, however, by reason of this Section 6, be
        obligated to institute, maintain, or refrain from changing, amending, or discontinuing, any such plan or policy, so long as such changes are similarly applicable to similarly situated Company employees generally.

     

    (b)          During the Employment Period, Employee shall be eligible to take paid time off in accordance with the Company’s paid time
        off policy as in effect from time to time. Unless otherwise provided for in any such paid time off policy, Employee shall forfeit (and shall not be entitled to any payment in respect of) any accrued but unused paid time off entitlement at the end
        of each calendar year or the end of the Employment Period.

     

    (c)          Through December 2023, the Company will provide an apartment and monthly reimbursement to return home.

     

    
      7.         Termination of Employment.

    

     

    (a)       Company’s Right to Terminate Employee’s Employment for Cause. The Company shall have the right to terminate Employee’s
        employment hereunder at any time for Cause. For purposes of this Agreement, “Cause” shall mean:

     

    (i)          Employee’s material breach of this Agreement or any other written agreement between Employee and one or
        more members of the Company Group, including Employee’s breach of any representation, warranty or covenant made under any such agreement;

     

    (ii)          Employee’s material breach of any law applicable to the workplace or employment relationship, or
        Employee’s material breach of any policy or code of conduct established by a member of the Company Group and applicable to Employee;

     

    
      3

      
        

    

    (iii)          Employee’s gross negligence, willful misconduct, breach of fiduciary duty, fraud, theft or
        embezzlement;

     

    (iv)          the commission by Employee of, or conviction or indictment of Employee for, or plea of nolo contendere
        by Employee to, any felony (or state law equivalent) or any crime involving moral turpitude; or

     

    (v)          Employee’s willful failure or refusal, other than due to Disability, to perform Employee’s obligations
        pursuant to this Agreement or to follow any lawful directive from the Company, as determined by the Company; provided, however, that if Employee’s actions or omissions as set forth in this Section 7(a)(v)
        are of such a nature that the Company determines that they are curable by Employee, such actions or omissions must remain uncured thirty (30) days after the Company first provided Employee written notice of the obligation to cure such actions or
        omissions.

     

    (b)        Company’s Right to Terminate for Convenience. The Company shall have the right to terminate Employee’s employment for
        convenience at any time and for any reason, or no reason at all, upon written notice to Employee.

     

    (c)         Employee’s Right to Terminate for Good Reason. Employee shall have the right to terminate Employee’s employment with
        the Company at any time for Good Reason. For purposes of this Agreement, “Good Reason” shall mean:

     

    (i)          a material diminution in Employee’s Base Salary or STI Award target;

     

    (ii)          a material diminution in the title, authority, duties and responsibilities normally incidental to the
        position(s) identified in Section 1 that occurs during a CIC Protection Period (as defined below);

     

    (iii)          a material breach by the Company of any of its obligations under this Agreement; or

     

    (iv)          the relocation of the geographic location of Employee’s principal place of employment by more than
        seventy-five (75) miles from the location of Employee’s principal place of employment as of the Effective Date.

     

    Notwithstanding the foregoing provisions of this Section 7(c) or any other provision of this Agreement to the contrary, any assertion by
      Employee of a termination for Good Reason shall not be effective unless all of the following conditions are satisfied: (A) the condition described in Section 7(c)(i), (ii), (iii) or (iv) giving rise to Employee’s termination
      of employment must have arisen without Employee’s consent; (B) Employee must provide written notice to the Company of the existence of such condition(s) within thirty (30) days after the initial occurrence of such condition(s); (C) the condition(s)
      specified in such notice must remain uncorrected for thirty (30) days following the Company’s receipt of such written notice; and (D) the date of Employee’s termination of employment must occur within sixty (60) days after end of the period
      referenced in clause (C).

     

    
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    (d)         Death or Disability. Upon the death or Disability of Employee, Employee’s employment with Company shall
        automatically (and without any further action by any person or entity) terminate. For purposes of this Agreement, a “Disability” shall exist if either (i) the Company determines that Employee is unable to perform the essential functions of
        Employee’s position (after accounting for reasonable accommodation, if applicable and required by applicable law), due to physical or mental impairment that continues, or can reasonably be expected to continue, for a period in excess of one
        hundred-twenty (120) consecutive days or one hundred-eighty (180) days, whether or not consecutive (or for any longer period as may be required by applicable law), in any twelve (12)-month period or (ii) Employee becomes eligible to receive
        benefits under the Company’s long-term disability plan, as in effect from time to time.

     

    (e)         Employee’s Right to Terminate for Convenience. In addition to Employee’s right to terminate Employee’s employment
        for Good Reason, Employee shall have the right to terminate Employee’s employment with the Company for convenience at any time and for any other reason, or no reason at all, upon thirty (30) days’ advance written notice to the Company; provided,
        however, that if Employee has provided notice to the Company of Employee’s termination of employment, the Company may determine, in its sole discretion, that such termination shall be effective on any date prior to the effective date of termination
        provided in such notice (and, if such earlier date is so required, then it shall not change the basis for Employee’s termination of employment nor be construed or interpreted as a termination of employment pursuant to Section 7(b)).

     

    (f)           Effect of Termination.

     

    (i)          Death or Disability. If Employee’s employment hereunder is terminated upon the death or
        Disability of Employee, then so long as (and only if) Employee (or Employee’s guardian or the executor or other authorized representative of Employee’s estate): (A) executes on or before the Release Expiration Date (as defined below), and does not
        revoke within any time provided by the Company to do so, a release of all claims in a form acceptable to the Company (the “Release”), which Release shall release each member of the Company Group and their respective affiliates, and the
        foregoing entities’ respective shareholders, members, partners, officers, managers, directors, fiduciaries, employees, representatives, agents and benefit plans (and fiduciaries of such plans) from any and all claims, including any and all causes
        of action arising out of Employee’s employment with the Company and any other member of the Company Group or the termination of such employment, but excluding all claims to severance payments Employee may have under this Section 7 (the “Release

          Requirement”); and (B) does not violate the terms of Sections 9, 10 and 11, then the Company shall pay Employee the STI Award, if any, for the STI Year that includes the date on which Employee’s employment terminates
        (the “Termination Date”), determined based on actual performance and paid on the date short-term incentive awards for such STI Year are paid to other executives of the Company.

     

    
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    (ii)          Termination without Cause; Resignation for Good Reason. If Employee’s employment hereunder is
        terminated, (i) by the Company without Cause pursuant to Section 7(b) or (ii) by Employee for Good Reason pursuant to Section 7(c), then so long as (and only if) Employee: (A) satisfies the Release Requirement; and abides by the terms of each of
        Sections 9, 10 and 11, then the Company shall provide Employee with the payments and benefits set forth in Sections 7(f)(ii)(A), (B) and (C) below:

     

    (A)          The Company shall pay severance to Employee in a total amount equal to (x) the Applicable Severance Multiple (as defined
        below), multiplied by (y) the sum of Employee’s Base Salary and target STI Award for the year in which the Termination Date occurs (such total severance amount being referred to as the “Severance Payment”). The Severance Payment will be
        divided into substantially equal installments paid over the twelve (12)-month period following the Termination Date; provided, however, that if the Termination Date is within a CIC Protection Period (as defined below), then the Severance Payment
        will be paid to Employee in a single lump sum on the First Payment Date (as defined below). Subject to Section 23(d), if the Termination Date is not within a CIC Protection Period, then, on the First Payment Date, the Company shall pay to
        Employee, without interest, a number of such installments equal to the number of such installments that would have been paid during the period beginning on the Termination Date and ending on the First Payment Date had the installments been paid on
        the Company’s regularly scheduled pay dates on or following the Termination Date, and each of the remaining installments shall be paid on the Company’s regularly scheduled pay dates during the remainder of such twelve (12)-month period. 
        Notwithstanding the foregoing, if the Termination Date is within a CIC Protection Period, but prior to the date on which the Change in Control occurs, the Severance Payment (calculated using the Applicable Severance Multiple applicable to a
        termination within a CIC Protection Period) shall be paid in a lump sum on the later of the First Payment Date or the first regularly scheduled pay date following the Change in Control, and shall be reduced by all installments of the Severance
        Payment paid prior to such date.

     

    (B)          During the portion, if any, of the eighteen (18)-month period following the Termination Date (the “COBRA Period”) that
        Employee elects to continue coverage for Employee and Employee’s spouse and eligible dependents, if any, under the Company’s group health plans pursuant to Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”), the Company shall
        cause the premium for such coverage to be equal to the employee contribution amount that similarly situated active employees of the Company pay for the same or similar coverage under such group health plans (the “COBRA Benefit”). Employee
        shall be eligible to receive such COBRA Benefit until the earliest of: (x) the last day of the COBRA Period; (y) the date Employee is no longer eligible to receive COBRA continuation coverage; and (z) the date on which Employee becomes eligible to
        receive coverage under a group health plan sponsored by another employer (and any such eligibility shall be promptly reported to the Company by Employee); provided, however, that the election of COBRA continuation coverage and the payment of any
        premiums due with respect to such COBRA continuation coverage shall remain Employee’s sole responsibility, and the Company shall not assume any obligation for payment of any such premiums relating to such COBRA continuation coverage.
        Notwithstanding the foregoing, if the provision of the benefits described in this paragraph cannot be provided in the manner described above without penalty, tax or other adverse impact on the Company or any other member of the Company Group, then
        the Company and Employee shall negotiate in good faith to determine an alternative manner in which the Company may provide substantially equivalent benefits to Employee without such adverse impact on the Company or such other member of the Company
        Group.

     

    
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    (C)         The Company shall pay Employee a pro-rata portion of the STI Award for the STI Year in which the Termination Date occurs (the “Pro-Rata

          STI Award”), which shall be equal to (x) the STI Award, if any, earned for the STI Year in which the Termination Date occurs based on actual performance (or, if the Termination Date occurs during a CIC Protection Period, the greater of target
        or actual performance), multiplied by (y) a fraction, the numerator of which is the number of days that have elapsed from the beginning of such STI Year through the Termination Date and the denominator of which is the total number of days in such
        STI Year. The Pro-Rata STI Award, if any, will be paid on the date short-term incentive awards for such STI Year are paid to other executives of the Company.

     

    The payments and benefits described in Section 7(f)(ii)(A), (B) and (C) above are collectively referred to herein as the “Termination

        Benefits.”

     

    (iii)      For the avoidance of doubt, neither the Termination Benefits nor any portion thereof shall be payable if Employee’s
        employment hereunder terminates pursuant to any of the circumstances described in Sections 7(a), 7(d) or 7(e) above.

     

    (iv)         If the Release is not executed and returned to the Company on or before the Release Expiration Date, and the required
        revocation period has not fully expired without revocation of the Release by Employee, then Employee shall not be entitled to any portion of the STI Award under Section 7(f)(i) or any of the Termination Benefits, as applicable. As used
        herein, the “Release Expiration Date” is that date that is twenty-one (21) days following the date upon which the Company delivers the Release to Employee (which shall occur no later than seven (7) days after the Termination Date) or, in the
        event that such termination of employment is “in connection with an exit incentive or other employment termination program” (as such phrase is defined in the Age Discrimination in Employment Act of 1967), the date that is forty-five (45) days
        following such delivery date.

     

    (v)         As used herein, (A) “Applicable Severance Multiple” means one (1); provided, however, that if the Termination Date
        occurs during a CIC Protection Period, Applicable Severance Multiple means one and a half (1.5); (B) “Change in Control” has the meaning given to such term in the Charah Solutions, Inc. 2018 Omnibus Incentive Plan; (C) “CIC Protection
          Period” means the period commencing six (6) months before and ending twenty-four (24) months after the date on which a Change in Control occurs; and (D) “First Payment Date” means the Company’s first regularly scheduled pay date that
        is on or after the date that is sixty (60) days after the Termination Date.

     

    (g)          Severance Clawback. Notwithstanding any provision of this Agreement to the contrary, in the event that the Company
        determines that Employee is eligible to receive the Termination Benefits pursuant to Section 7(f) but, after such determination, the Company subsequently acquires evidence or determines that: (i) Employee has failed to abide by the terms
        of Sections 9, 10 or 11; or (ii) a Cause condition existed prior to the Termination Date that, had the Company been fully aware of such condition, would have given the Company the right to terminate Employee’s employment
        pursuant to Section 7(a), then the Company shall have the right to cease the payment of any future installments of the Severance Payment and the COBRA Benefit and any Pro-Rata STI Award, and Employee shall promptly return to the Company all
        installments (or lump sum), as applicable, of the Severance Payment and the COBRA Benefit and any Pro-Rata STI Award received by Employee prior to the date that the Company determines that the conditions of this Section 7(g) have been
        satisfied.

     

    
      7

      
        

    

    8.           Disclosures. Promptly (and in any event, within three (3) business days) upon becoming aware of (a) any actual or
        potential Conflict of Interest or (b) any lawsuit, claim or arbitration filed against or involving Employee or any trust or vehicle owned or controlled by Employee, in each case, Employee shall disclose such actual or potential Conflict of Interest
        or such lawsuit, claim or arbitration to the Board. A “Conflict of Interest” shall exist when Employee engages in, or plans to engage in, any activities, associations, or interests that conflict with, or create an appearance of a conflict
        with, Employee’s duties, responsibilities, authorities, or obligations for and to any member of the Company Group.

     

    9.           Confidentiality. In the course of Employee’s employment with the Company and the performance of Employee’s duties on
        behalf of the Company Group hereunder, Employee will be provided with, and have access to, Confidential Information (as defined below). In consideration of Employee’s receipt and access to such Confidential Information, and as a condition of
        Employee’s employment hereunder, Employee shall comply with this Section 9.

     

    (a)        Both during the Employment Period and thereafter, except as expressly permitted by this Agreement or by directive of the
        Board, Employee shall not disclose any Confidential Information to any person or entity and shall not use any Confidential Information except for the benefit of the Company Group. Employee acknowledges and agrees that Employee would inevitably use
        and disclose Confidential Information in violation of this Section 9 if Employee were to violate any of the covenants set forth in Section 10. Employee shall follow all Company Group policies and protocols regarding the security of
        all documents and other materials containing Confidential Information (regardless of the medium on which Confidential Information is stored). The covenants of this Section 9(a) shall apply to all Confidential Information, whether now known
        or later to become known to Employee during the period that Employee is employed by or affiliated with the Company or any other member of the Company Group.

     

    (b)         Notwithstanding any provision of Section 9(a) to the contrary, Employee may make the following disclosures and uses
        of Confidential Information:

     

    (i)          disclosures to other employees of a member of the Company Group who have a need to know the information
        in connection with the businesses of the Company Group;

     

    (ii)          disclosures to customers and suppliers when, in the reasonable and good faith belief of Employee, such
        disclosure is in connection with Employee’s performance of Employee’s duties under this Agreement and is in the best interests of the Company Group;

     

    (iii)          disclosures and uses that are approved in writing by the Board; or

     

    (iv)          disclosures to a person or entity that has (x) been retained by a member of the Company Group to
        provide services to one or more members of the Company Group and (y) agreed in writing to abide by the terms of a confidentiality agreement.

     

    
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    (c)          Upon the expiration of the Employment Period, and at any other time upon request of the Company, Employee shall promptly
        surrender and deliver to the Company all documents (including electronically stored information) and all copies thereof and all other materials of any nature containing or pertaining to all Confidential Information and any other Company Group
        property (including any Company Group-issued computer, mobile device or other equipment) in Employee’s possession, custody or control and Employee shall not retain any such documents or other materials or property of the Company Group. Within five
        (5) days of any such request, Employee shall certify to the Company in writing that all such documents, materials and property have been returned to the Company.

     

    (d)         All trade secrets, non-public information, designs, ideas, concepts, improvements, product developments, discoveries and
        inventions, whether patentable or not, that are or have been conceived, made, developed or acquired by or disclosed to Employee, individually or in conjunction with others, during the period that Employee is or has been employed by or affiliated
        with the Company or any other member of the Company Group (whether during business hours or otherwise and whether on the Company’s premises or otherwise) that relate to any member of the Company Group’s businesses or properties, products or
        services (including all such information relating to corporate opportunities, operations, future plans, methods of doing business, business plans, strategies for developing business and market share, research, financial and sales data, pricing
        terms, evaluations, opinions, interpretations, acquisition prospects, the identity of customers or acquisition targets or their requirements, the identity of key contacts within customers’ organizations or within the organization of acquisition
        prospects, or marketing and merchandising techniques, prospective names and marks) is defined as “Confidential Information.” Moreover, all documents, videotapes, written presentations, brochures, drawings, memoranda, notes, records, files,
        correspondence, manuals, models, specifications, computer programs, e-mail, voice mail, electronic databases, maps, drawings, architectural renditions, models and all other writings or materials of any type including or embodying any of such
        information, ideas, concepts, improvements, discoveries, inventions and other similar forms of expression are and shall be the sole and exclusive property of the Company or the other applicable member of the Company Group and be subject to the same
        restrictions on disclosure applicable to all Confidential Information pursuant to this Agreement. For purposes of this Agreement, Confidential Information shall not include any information that (i) is or becomes generally available to the public
        other than as a result of a disclosure or wrongful act of Employee or any of Employee’s agents; (ii) was available to Employee on a non-confidential basis before its disclosure by a member of the Company Group; or (iii) becomes available to
        Employee on a non-confidential basis from a source other than a member of the Company Group; provided, however, that such source is not bound by a confidentiality agreement with, or other obligation with respect to confidentiality to, a member of
        the Company Group.

     

    
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    (e)        Notwithstanding the foregoing, nothing in this Agreement shall prohibit or restrict Employee from lawfully: (i) initiating
        communications directly with, cooperating with, providing information to, causing information to be provided to, or otherwise assisting in an investigation by, any governmental authority (including the U.S. Securities and Exchange Commission)
        regarding a possible violation of any law; (ii) responding to any inquiry or legal process directed to Employee from any such governmental authority; (iii) testifying, participating or otherwise assisting in any action or proceeding by any such
        governmental authority relating to a possible violation of law; or (iv) making any other disclosures that are protected under the whistleblower provisions of any applicable law. Additionally, pursuant to the federal Defend Trade Secrets Act of
        2016, an individual shall not be held criminally or civilly liable under any federal or state trade secret law for the disclosure of a trade secret that: (A) is made (1) in confidence to a federal, state or local government official, either
        directly or indirectly, or to an attorney and (2) solely for the purpose of reporting or investigating a suspected violation of  law; (B) is made to the individual’s attorney in relation to a lawsuit for retaliation against the individual for
        reporting a suspected violation of law; or (C) is made in a complaint or other document filed in a lawsuit or proceeding, if such filing is made under seal. Nothing in this Agreement requires Employee to obtain prior authorization before engaging
        in any conduct described in this paragraph, or to notify the Company that Employee has engaged in any such conduct.

     

    10.          Non-Competition; Non-Solicitation; Non-Disparagement.

     

    (a)         The Company shall provide Employee access to Confidential Information for use only during the Employment Period, and
        Employee acknowledges and agrees that the Company Group will be entrusting Employee, in Employee’s unique and special capacity, with developing the goodwill of the Company Group, and as an express incentive for the Company to enter into this
        Agreement and employ Employee hereunder, Employee has voluntarily agreed to the covenants set forth in this Section 10. Employee agrees and acknowledges that the limitations and restrictions set forth herein, including geographical and
        temporal restrictions on certain competitive activities, are reasonable in scope and purpose in all respects, do not interfere with public interests, will not cause Employee undue hardship, and are material and substantial parts of this Agreement
        intended and necessary to prevent unfair competition and to protect the Company Group’s Confidential Information, goodwill and legitimate business interests.

     

    (b)         During the Prohibited Period, Employee shall not, without the prior written approval of the Board, directly or indirectly,
        for Employee or on behalf of or in conjunction with any other person or entity of any nature:

     

    (i)          engage in or participate within the Market Area in competition with any member of the Company Group in
        any aspect of the Business, including by directly or indirectly: (A) owning, managing, operating, or being an officer or director of, any business that competes with any member of the Company Group in the Market Area, or (B) joining, becoming an
        employee or consultant of, or otherwise being affiliated with, any person or entity engaged in, or planning to engage in, the Business in the Market Area in competition, or anticipated competition, with any member of the Company Group in any
        capacity (with respect to this clause (B)) in which Employee’s duties or responsibilities are the same as or similar to the duties or responsibilities that Employee had on behalf of any member of the Company Group;

     

    (ii)          appropriate any Business Opportunity of, or relating to, any member of the Company Group located in the
        Market Area;

     

    (iii)        solicit, canvass, approach, encourage, entice or induce any customer or supplier of any member of the
        Company Group to cease or lessen such customer’s or supplier’s business with any member of the Company Group; or

     

    
      10

      
        

    

    (iv)          solicit, canvass, approach, encourage, entice or induce any employee or contractor of any member of the
        Company Group to terminate his, her or its employment or engagement with any member of the Company Group.

     

    (c)        Because of the difficulty of measuring economic losses to the Company Group as a result of a breach or threatened breach of
        the covenants set forth in Section 9 and in this Section 10, and because of the immediate and irreparable damage that would be caused to the members of the Company Group for which they would have no other adequate remedy, the
        Company and each other member of the Company Group shall be entitled to enforce the foregoing covenants, in the event of a breach or threatened breach, by injunctions and restraining orders from any court of competent jurisdiction, without the
        necessity of showing any actual damages or that money damages would not afford an adequate remedy, and without the necessity of posting any bond or other security. The aforementioned equitable relief shall not be the Company’s or any other member
        of the Company Group’s exclusive remedy for a breach but instead shall be in addition to all other rights and remedies available to the Company and each other member of the Company Group at law and equity.

     

    (d)        The covenants in this Section 10, and each provision and portion hereof, are severable and separate, and the
        unenforceability of any specific covenant (or portion thereof) shall not affect the provisions of any other covenant (or portion thereof). Moreover, in the event any arbitrator or court of competent jurisdiction shall determine that the scope, time
        or territorial restrictions set forth are unreasonable, then it is the intention of the parties that such restrictions be enforced to the fullest extent which such arbitrator or court deems reasonable, and this Agreement shall thereby be reformed.

     

    (e)          The following terms shall have the following meanings:

     

    (i)         “Business” shall mean the business and operations that are the same or similar to those performed by the Company and
        any other member of the Company Group during the Employment Period, which business and operations include: (A) coal ash management and recycling, environmental remediation, and environmental risk transfer; (B) the design and implementation of
        solutions for complex coal ash environmental projects (such as ash pond closures) and coal ash recycling (and facilitation thereof, including through byproduct sales and other beneficial use services); (C) byproduct sales for power generation
        customers (including sale and recycling of coal combustion residuals); and (D) technical services for fossil services (including management of coal ash for coal-fired power generation facilities).

     

    (ii)          “Business Opportunity” shall mean any commercial, investment or other business opportunity relating to the
        Business.

     

    (iii)         “Market Area” shall mean: (A) the geographic area within a 250-mile radius of any office or other facility of the
        Company or any other member of the Company Group or any work site (including any project site, customer office or any other facility owned, operated, serviced or managed by a member of the Company Group) where Participant worked or for which
        Participant had direct or indirect responsibility during the period of Participant’s employment with the Company or any other member of the Company Group; and (B) those geographic areas set forth on Exhibit A hereto.

     

    
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    (iv)         “Prohibited Period” shall mean the period during which Employee is employed by any member of the Company Group and
        continuing for a period of twelve (12) months following the date that Employee is no longer employed by any member of the Company Group.

     

    (f)          Subject to Section 9(e) above, Employee agrees that during the period from and after the Effective Date, Employee
        will not, and will cause Employee’s affiliates to not, make, publish, or communicate any disparaging or defamatory comments regarding any member of the Company Group or any of their respective current or former directors, officers, members,
        managers, partners, executives or direct or indirect owners (including equity holders).

     

    11.          Ownership of Intellectual Property. Employee agrees that the Company shall  own, and Employee shall (and hereby does)
        assign, all right, title and interest (including patent rights, copyrights, trade secret rights, mask work rights, trademark rights, and all other intellectual and industrial property rights of any sort throughout the world) relating to any and all
        inventions (whether or not patentable), works of authorship, mask works, designs, know-how, ideas and information authored, created, contributed to, made or conceived or reduced to practice, in whole or in part, by Employee during the period in
        which Employee is or has been employed by or affiliated with the Company or any other member of the Company Group that either (a) relate, at the time of conception, reduction to practice, creation, derivation or development, to any member of the
        Company Group’s businesses or actual or anticipated research or development, or (b) were developed on any amount of the Company’s or any other member of the Company Group’s time or with the use of any member of the Company Group’s equipment,
        supplies, facilities or trade secret information (all of the foregoing collectively referred to herein as “Company Intellectual Property”), and Employee shall promptly disclose all Company Intellectual Property to the Company. All of
        Employee’s works of authorship and associated copyrights created during the period in which Employee is employed by or affiliated with the Company or any other member of the Company Group and in the scope of Employee’s employment or engagement
        shall be deemed to be “works made for hire” within the meaning of the Copyright Act. Employee shall perform, during and after the period in which Employee is or has been employed by or affiliated with the Company or any other member of the Company
        Group, all acts deemed necessary by the Company to assist each member of the Company Group, at the Company’s expense, in obtaining and enforcing its rights throughout the world in the Company Intellectual Property. Such acts may include execution
        of documents and assistance or cooperation (i) in the filing, prosecution, registration, and memorialization of assignment of any applicable patents, copyrights, mask work, or other applications, (ii) in the enforcement of any applicable patents,
        copyrights, mask work, moral rights, trade secrets, or other proprietary rights, and (iii) in other legal proceedings related to the Company Intellectual Property.

     

    
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    12.          Arbitration.

     

    (a)          Subject to Section 12(b), any dispute, controversy or claim between Employee and any member of the Company Group
        arising out of or relating to this Agreement or Employee’s employment or engagement with any member of the Company Group will be finally settled by arbitration in Louisville, Kentucky in accordance with the then-existing American Arbitration
        Association (“AAA”) Employment Arbitration Rules. The arbitration award shall be final and binding on both parties. Any arbitration conducted under this Section 12 shall be private, and shall be heard by a single arbitrator (the “Arbitrator”)

        selected in accordance with the then-applicable rules of the AAA. The Arbitrator shall expeditiously hear and decide all matters concerning the dispute. Except as expressly provided to the contrary in this Agreement, the Arbitrator shall have the
        power to (i) gather such materials, information, testimony and evidence as the Arbitrator deems relevant to the dispute before him or her (and each party will provide such materials, information, testimony and evidence requested by the Arbitrator),
        and (ii) grant injunctive relief and enforce specific performance. All disputes shall be arbitrated on an individual basis, and each party hereto hereby foregoes and waives any right to arbitrate any dispute as a class action or collective action
        or on a consolidated basis or in a representative capacity on behalf of other persons or entities who are claimed to be similarly situated, or to participate as a class member in such a proceeding. The decision of the Arbitrator shall be reasoned,
        rendered in writing, be final and binding upon the disputing parties and the parties agree that judgment upon the award may be entered by any court of competent jurisdiction.

     

    (b)         Notwithstanding Section 12(a), either party may make a timely application for, and obtain, judicial emergency or
        temporary injunctive relief to enforce any of the provisions of Sections 9 through 11 provided, however, that the remainder of any such dispute (beyond the application for emergency or temporary injunctive relief) shall be subject
        to arbitration under this Section 12.

     

    (c)      By entering into this Agreement and entering into the arbitration provisions of this Section 12, THE PARTIES EXPRESSLY
        ACKNOWLEDGE AND AGREE THAT THEY ARE KNOWINGLY, VOLUNTARILY AND INTENTIONALLY WAIVING THEIR RIGHTS TO A JURY TRIAL.

     

    (d)          Nothing in this Section 12 shall prohibit a party to this Agreement from (i) instituting litigation to enforce any
        arbitration award, or (ii) joining the other party to this Agreement in a litigation initiated by a person or entity that is not a party to this Agreement. Further, nothing in this Section 12 precludes Employee from filing a charge or
        complaint with a federal, state or other governmental administrative agency.

     

    13.          Defense of Claims. During the Employment Period and thereafter, upon request from the Company, Employee shall cooperate
        with the Company Group in the defense of any claims or actions that may be made by or against any member of the Company Group that relate to Employee’s actual or prior areas of responsibility. In making any such request for cooperation following
        the Termination Date, the Company will take into consideration Employee’s then-existing personal and professional obligations, as applicable. The Company shall reimburse Employee for Employee’s reasonable and documented out-of-pocket expenses
        incurred by Employee following the Termination Date to comply with Employee’s obligations under this Section 13.

     

    14.          Withholdings; Deductions. The Company may withhold and deduct from any benefits and payments made or to be made
        pursuant to this Agreement

     

    (a)          all federal, state, local and other taxes as may be required pursuant to any law or governmental regulation or ruling and

     

    
      13

      
        

    

    (b)          any deductions consented to in writing by Employee.

     

    15.          Title and Headings; Construction. Titles and headings to Sections hereof are for the purpose of reference only and
        shall in no way limit, define or otherwise affect the provisions hereof. Any and all Exhibits or Attachments referred to in this Agreement are, by such reference, incorporated herein and made a part hereof for all purposes. Unless the context
        requires otherwise, all references to laws, regulations, contracts, documents, agreements and instruments refer to such laws, regulations, contracts, agreements and instruments as they may be amended from time to time, and references to particular
        provisions of laws or regulations include a reference to the corresponding provisions of any succeeding law or regulation. All references to “dollars” or “$” in this Agreement refer to United States dollars. The words “herein”, “hereof”,
        “hereunder” and other compounds of the word “here” shall refer to the entire Agreement, including all Exhibits attached hereto, and not to any particular provision hereof. The word “or” is not exclusive. Wherever the context so requires, the
        masculine gender includes the feminine or neuter, and the singular number includes the plural and conversely. All references to “including” shall be construed as meaning “including without limitation.” Neither this Agreement nor any uncertainty or
        ambiguity herein shall be construed or resolved against any party hereto, whether under any rule of construction or otherwise. On the contrary, this Agreement has been reviewed by each of the parties hereto and shall be construed and interpreted
        according to the ordinary meaning of the words used so as to fairly accomplish the purposes and intentions of the parties hereto.

     

    16.          Applicable Law; Submission to Jurisdiction. This  Agreement  shall  in  all respects be construed according to the laws
        of the Commonwealth of Kentucky without regard to its conflict of laws principles that would result in the application of the laws of another jurisdiction. With respect to any claim or dispute related to or arising under this Agreement, the parties
        hereby consent to the arbitration provisions of Section 12 and recognize and agree that should any resort to a court be necessary and permitted under this Agreement, then they consent to the exclusive jurisdiction, forum and venue of the state and
        federal courts (as applicable) located in Louisville, Kentucky.

     

    17.          Entire Agreement and Amendment. This Agreement contains the entire  agreement of the parties with respect to the
        matters covered herein and supersedes all prior and contemporaneous agreements and understandings, oral or written, between the parties hereto concerning the subject matter hereof; provided, however, that the provisions of this Agreement are in
        addition to and complement (and do not replace or supersede) any other written agreement(s) or parts thereof between Employee and any member of the Company Group that create restrictions on Employee with respect to confidentiality, non-disclosure,
        non-competition, non-solicitation or non-disparagement. Without limiting the scope of the preceding sentence, except as otherwise expressly provided in this Section 17, all understandings and agreements preceding the Effective Date and relating to
        the subject matter hereof (including the Prior Agreement) are hereby null and void and of no further force or effect, and this Agreement shall supersede all other agreements, written or oral, that purport to govern the terms of Employee’s
        employment (including Employee’s compensation) with any member of the Company Group. Employee acknowledges and agrees that the Prior Agreement is hereby terminated and has been satisfied in full, as has any other employment agreement between
        Employee and any member of the Company Group. In entering into this Agreement, Employee expressly acknowledges and agrees that Employee has received all sums and compensation that Employee has been owed, is owed or ever could be owed pursuant to
        the agreement(s) referenced in the previous sentence and for services provided to any member of the Company Group through the date that Employee signs this Agreement, with the exception of any unpaid base salary for the pay period that includes the
        date on which Employee signs this Agreement. This Agreement may be amended only by a written instrument executed by both parties hereto.

     

    
      14

      
        

    

    

    

    18.          Waiver of Breach. Any waiver of this Agreement must be executed by the party to be bound by such waiver. No waiver by
        either party hereto of a breach of any provision of this Agreement by the other party, or of compliance with any condition or provision of this Agreement to be performed by such other party, will operate or be construed as a waiver of any
        subsequent breach by such other party or any similar or dissimilar provision or condition at the same or any subsequent time. The failure of either party hereto to take any action by reason of any breach will not deprive such party of the right to
        take action at any time.

     

    19.          Assignment. This Agreement is personal to Employee, and neither this Agreement nor any rights or obligations hereunder
        shall be assignable or otherwise transferred by Employee. The Company may assign this Agreement without Employee’s consent, including to any member of the Company Group and to any successor to or acquirer of (whether by merger, purchase or
        otherwise) all or substantially all of the equity, assets or businesses of the Company.

     

    20.          Notices. Notices provided for in this Agreement shall be in writing and shall be deemed to have been duly received (a)
        when delivered in person, (b) when sent by electronic mail (with confirmation of receipt) on a business day to the e-mail address set forth below, if applicable; provided, however, that if a notice is sent by facsimile transmission after normal
        business hours of the recipient or on a non-business day, then it shall be deemed to have been received on the next business day after it is sent, (c) on the first business day after such notice is sent by express overnight courier service, or (d)
        on the second business day following deposit with an internationally-recognized second-day courier service with proof of receipt maintained, in each case, to the following address, as applicable:

     

    	 	
            If to the Company, addressed to:

          
	 	 
	 	
            Charah, LLC

          
	 	
            Attention: Vice President of Legal Affairs

          
	 	
            12601 Plantside Drive

          
	 	
            Louisville, Kentucky 40299

          
	 	
            E-mail:sbrehm@charah.com          

          
	 	 
	 	
            If to the Parent, addressed to:

          
	 	 
	 	
            Charah Solutions, Inc.

          
	 	
            Attention: Vice President of Legal Affairs

          
	 	
            12601 Plantside Drive

          
	 	
            Louisville, Kentucky 40299

          
	 	
            E-mail:sbrehm@charah.com          

          

     

    

    If to Employee, addressed to Employee’s last known address on file with the Company.

     

    
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    21.          Counterparts. This Agreement may be executed in any number of counterparts, including by electronic mail or facsimile,
        each of which when so executed and delivered shall be an original, but all such counterparts shall together constitute one and the same instrument. Each counterpart may consist of a copy hereof containing multiple signature pages, each signed by
        one party, but together signed by both parties hereto.

     

    22.          Deemed Resignations. Except as otherwise determined by the Board or as otherwise agreed to in writing by Employee and
        any member of the Company Group prior to the termination of Employee’s employment with the Company or any member of the Company Group, any termination of Employee’s employment shall constitute, as applicable, an automatic resignation of Employee:
        (a) as an officer of the Company and each member of the Company Group; (b) from the Board; and (c) from the board of directors or board of managers (or similar governing body) of any member of the Company Group and from the board of directors or
        board of managers (or similar governing body) of any corporation, limited liability entity, unlimited liability entity or other entity in which any member of the Company Group holds an equity interest and with respect to which board of directors or
        board of managers (or similar governing body) Employee serves as such Company Group member’s designee or other representative.

     

    
      23.       Section 409A.

    

     

    (a)          Notwithstanding any provision of this Agreement to the contrary, all provisions of this Agreement are intended to comply
        with Section 409A of the Internal Revenue Code of 1986 (the “Code”), and the applicable Treasury regulations and administrative guidance issued thereunder (collectively, “Section 409A”) or an exemption therefrom and shall be construed
        and administered in accordance with such intent. Any payments under this Agreement that may be excluded from Section 409A either as separation pay due to an involuntary separation from service or as a short-term deferral shall be excluded from
        Section 409A to the maximum extent possible. For purposes of Section 409A, each installment payment provided under this Agreement shall be treated as a separate payment. Any payments to be made under this Agreement upon a termination of Employee’s
        employment shall only be made if such termination of employment constitutes a “separation from service” under Section 409A.

     

    (b)       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), (i) any such expense reimbursement shall be made by the Company no later than the last day of Employee’s taxable year following the taxable year in which such expense was
        incurred by Employee, (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 in which the arrangement is in effect.

     

    
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    (c)         Notwithstanding any provision in this Agreement to the contrary, if any payment or benefit provided for herein would be
        subject to additional taxes and interest under Section 409A if Employee’s receipt of such payment or benefit is not delayed until the earlier of (i) the date of Employee’s death or (ii) the date that is six (6) months after the Termination Date
        (such date, the “Section 409A Payment Date”), then such payment or benefit shall not be provided to Employee (or Employee’s estate, if applicable) until the Section 409A Payment Date. Notwithstanding the foregoing, the Company makes no
        representations that the payments and benefits provided under this Agreement are exempt from, or compliant with, Section 409A and in no event shall any member of the Company Group be liable for all or any portion of any taxes, penalties, interest
        or other expenses that may be incurred by Employee on account of non-compliance with Section 409A.

     

    (d)         To the extent that the aggregate amount of the installments of the Severance Payment that would otherwise be paid pursuant
        to the provisions of Section 7(f)(ii)(A) after March 15 of the calendar year following the calendar year in which the Termination Date occurs (the “Applicable March 15”) exceeds the maximum exemption amount under Treasury Regulation
        Section 1.409A-1(b)(9)(iii)(A), then such excess shall be paid to Employee in a lump sum on the Applicable March 15 (or the first business day preceding the Applicable March 15 if the Applicable March 15 is not a business day) and the installments
        of the Severance Payment payable after the Applicable March 15 shall be reduced by such excess (beginning with the installment first payable after the Applicable March 15 and continuing with the next succeeding installment until the aggregate
        reduction equals such excess).

     

    24.          Certain Excise Taxes. Notwithstanding anything to the contrary in this Agreement, if Employee is a “disqualified
        individual” (as defined in Section 280G(c) of the Code), and the payments and benefits provided for in this Agreement, together with any other payments and benefits which Employee has the right to receive from the Company or any of its affiliates,
        would constitute a “parachute payment” (as defined in Section 280G(b)(2) of the Code), then the payments and benefits provided for in this Agreement shall be either (a) reduced (but not below zero) so that the present value of such total amounts
        and benefits received by Employee from the Company or any of its affiliates shall be one dollar ($1.00) less than three times Employee’s “base amount” (as defined in Section 280G(b)(3) of the Code) and so that no portion of such amounts and
        benefits received by Employee shall be subject to the excise tax imposed by Section 4999 of the Code or (b) paid in full, whichever produces the better net after-tax position to Employee (taking into account any applicable excise tax under Section
        4999 of the Code and any other applicable taxes). The reduction of payments and benefits hereunder, if applicable, shall be made by reducing, first, payments or benefits to be paid in cash hereunder in the order in which such payment or benefit
        would be paid or provided (beginning with such payment or benefit that would be made last in time and continuing, to the extent necessary, through to such payment or benefit that would be made first in time) and, then, reducing any benefit to be
        provided in-kind hereunder in a similar order. The determination as to whether any such reduction in the amount of the payments and benefits provided hereunder is necessary shall be made by the Company in good faith. If a reduced payment or benefit
        is made or provided and through error or otherwise that payment or benefit, when aggregated with other payments and benefits from the Company or any of its affiliates used in determining if a “parachute payment” exists, exceeds one dollar ($1.00)
        less than three times Employee’s base amount, then Employee shall immediately repay such excess to the Company upon notification that an overpayment has been made. Nothing in this Section 24 shall require any member of the
        Company Group to be responsible for, or have any liability or obligation with respect to, Employee’s excise tax liabilities under Section 4999 of the Code.

     

    
      17

      
        

    

    25.          Clawback. To the extent required by applicable law or any applicable securities exchange listing standards, or as
        otherwise determined by the Board (or a committee thereof), amounts paid or payable under this Agreement shall be subject to the provisions of any applicable clawback policies or procedures adopted by any member of the Company Group, which clawback
        policies or procedures may provide for forfeiture and/or recoupment of amounts paid or payable under this Agreement. Notwithstanding any provision of this Agreement to the contrary, each member of the Company Group reserves the right, without the
        consent of Employee, to adopt any such clawback policies and procedures, including such policies and procedures applicable to this Agreement with retroactive effect.

     

    26.          Indemnification. If Employee is made a party or is threatened to be made a party to or is involved in any action, suit
        or proceeding, whether civil, criminal, administrative or investigative, by reason of the fact that Employee is or was an employee, director or officer of any member of the Company Group or is or was serving at the request of the Company as a
        director, officer, employee or agent of another corporation or of a partnership, joint venture, trust or other enterprise, including service with respect to employee benefit plans (other than, in each case, any action, suit or proceeding initiated
        by Employee or any member of the Company Group or any of its affiliates or any of their respective directors, officers, managers, members, partners or employees related to any contest or dispute between Employee and any member of the Company Group
        or any of its affiliates or any of their respective directors, officers, managers, members, partners or employees with respect to this Agreement or Employee’s employment, engagement or any termination thereof), Employee shall be indemnified and
        held harmless by the Company to the fullest extent authorized by the Company’s organizational and governing documents and by applicable laws against all liabilities and losses (including reasonable attorneys’ fees, judgments, fines or penalties)
        incurred or suffered by Employee in connection therewith; provided, however, that if Employee is seeking indemnification in connection with a proceeding (or part thereof) initiated by Employee, the Company shall indemnify Employee with respect to
        such proceeding (or part thereof) only if such proceeding (or part thereof) was authorized by the Board.

     

    27.          Effect of Termination. The provisions of Sections 7, 9-14 and 22 and those provisions
        necessary to interpret and enforce them, shall survive any termination of this Agreement and any termination of the employment relationship between Employee and the Company.

     

    28.          Third-Party Beneficiaries. Each member of the Company Group that is not a signatory to this Agreement shall be a
        third-party beneficiary of Employee’s obligations under Sections 8, 9, 10, 11, 12, 16 and 22 and shall be entitled to enforce such obligations as if a party hereto.

     

    29.          Severability. If an arbitrator or court of competent jurisdiction determines that any provision of this Agreement (or
        portion thereof) is invalid or unenforceable, then the invalidity or unenforceability of that provision (or portion thereof) shall not affect the validity or enforceability of any other provision of this Agreement, and all other provisions shall
        remain in full force and effect.

     

    [Remainder of Page Intentionally Blank; Signature Page Follows]

     

    
      18

      
        

    

    IN WITNESS WHEREOF, Employee and the Company each have caused this Agreement to be executed and effective as of the Effective Date.

     

    	 	
            EMPLOYEE

          
	 	 	 
	 	
            /s/ Jonathan Batarseh

          
	 	
            Jonathan Batarseh

          
	 	 	 
	 	
            CHARAH, LLC

          
	 	 	 
	 	
            By:

          	
            /s/ Scott Sewell

          
	 	 	
            Scott Sewell

          
	 	 	
            President & Chief Executive Officer

          
	 	 	 
	 	
            Solely for purposes of Section 3(c)

          
	 	 	 
	 	
            CHARAH SOLUTIONS, INC.

          
	 	 	 
	 	
            By:

          	
            /s/ Scott Sewell

          
	 	 	
            Scott Sewell

          
	 	 	
            President & Chief Executive Officer

          

    

    

    
      19

      
        

    

    EXHIBIT A

     

    The following parishes within the State of Louisiana:

     

    Acadia, Allen, Ascension, Assumption, Avoyelles, Beauregard, Bienville, Bossier, Caddo, Calcasieu, Caldwell, Cameron, Catahoula, Claiborne, Concordia, DeSoto, East Baton
      Rouge, East Carroll, East Feliciana, Evangeline, Franklin, Grant, Iberia, Iberville, Jackson, Jefferson, Jefferson Davis, Lafayette, Lafourche, LaSalle, Lincoln, Livingston, Madison, Morehouse, Natchitoches, Orleans,  Ouachita,  Plaquemines, Pointe
      Coupee, Rapides, Red River, Richland, Sabine, St. Bernard, St. Charles, St. Helena, St. James, St. John, St. Landry, St. Martin, St. Mary, St. Tammany, Tangipahoa, Tensas, Terrebonne, Union, Vermilion, Vernon, Washington, Webster, West Baton Rouge,
      West Carroll, West Feliciana, and Winn

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