Document:

exv10w54

 

Exhibit 10.54

AMERICAN ECOLOGY CORPORATION

2007 Executive/Senior Management Incentive Bonus Plan

	1.	 	Purpose of the Plan

The purpose of the American Ecology Corporation 2007 Management Bonus Plan is to provide
certain of its key senior management employees, for the 2007 fiscal year, with incentive
compensation consistent with the interests of Company’s stockholders.

	 
	2.	 	Eligibility

Eligibility in the Plan is limited to Board approved and designated senior management
employees of American Ecology and its subsidiaries (the “Company”). For purposes of the
Plan, the Compensation Committee of the Company’s Board of Directors is the Plan
Administrator.

	 
	 	 	A listing of employees approved by the Board of Directors (“Participants”) with their
respective Initial Base Percentage (“IBP”) shall be maintained and administered by the Chief
Accounting Officer (“CAO”) under the direction of the Plan Administrator and is attached as
Exhibit A. Participation in the Plan supersedes any prior agreements relating to the subject
matter hereof, either written or verbal.

	 
	 	 	To be eligible for the incentive award (a “Bonus Award”) under the Plan, a Participant must
have been employed on a full-time basis by the Company for the entire 12 months of 2007 (the
“Performance Period”) and must be employed on the last day of the Performance Period and at
the date of any such payment. Plan Participants whose employment with the Company has been
terminated, for any reason whatsoever, prior to the payment of any Bonus Award, shall not be
eligible to receive any payment hereunder.

	 
	3.	 	Participant Groups

The Plan provides for three Participant categories in 2007.

	 	A)	 	President and Chief Executive Officer - Fifty percent (50%) of the bonus
shall be based on the Company achieving operating income objectives, taking into
account the cost of such bonuses. Up to an additional fifty percent (50%) shall be
awarded, with the approval of the Board of Directors, for achieving annual
priorities, updating and implementing Company initiatives and out year strategic
plans, and implementing processes to ensure tracking and achievement of
Board-adopted objectives.

	 
	 	B)	 	Senior Corporate Management — This category includes three Corporate
Vice Presidents and their bonuses shall be based on the following criteria:

	 	i.	 	Vice President & Chief Information Officer. Fifty
percent (50%) of the bonus shall be based on the Company achieving
operating income objectives, taking into account the cost of such bonuses.
Up to an additional fifty percent (50%) shall be awarded, at the discretion
of the CEO, for achieving priorities for support on potential acquisitions,
new information systems development and implementation, servicing ongoing
Information Technology needs, developing out year information system and
technology plans to support strategic plans, teamwork, support for the
Company’s operating facilities and other evaluative factors.

	 
	 	ii.	 	Vice President, Hazardous Waste Operations. Fifty
percent (50%) of the bonus shall be based on the Company achieving
operating income objectives, taking into account the cost of such bonuses.
Up to an additional fifty percent (50%) shall be awarded at the discretion
of the CEO for management of site efforts to achieve annual priorities,
manage Company resources and complete approved capital projects within
budget and on schedule, effectively manage health and safety programs,
teamwork, and development of out year plans for operating facility permit
expansions and investments in operating facility plant and equipment.

	 
	 	iii.	 	Vice President, Controller and Chief Accounting
Officer. Fifty percent (50%) of the bonus shall be based on the Company
achieving operating income objectives, taking into account the cost of such
bonuses. Up to an additional fifty percent (50%) shall be awarded, at the
discretion of the CEO, for compliance with federal securities regulations
including financial reporting
requirements and compliance and internal control requirements, investor
relations, business development and financing initiatives, development of out
year capital structure and finance plans, team work, and other evaluative
factors.

 

 

 

	 	iv.	 	Vice President, Sales and Marketing. Fifty percent
(50%) of the bonus shall be based on the Company achieving operating income
objectives, taking into account the cost of such bonuses. Up to an
additional fifty percent (50%) shall be awarded, at the discretion of the
CEO, for driving the overall sales and marketing effort to meet established
territory targets, protect existing business, team work, market development
planning for out year growth, and other evaluative factors.

	 	C)	 	Operating Facility Management — This category includes the four
operating facility General Managers. Twenty-five percent (25%) of the bonus shall be
based upon achievement of Company operating income objectives, taking into account
the cost of such bonuses and twenty-five percent (25%) for Site operating income. Up
to an additional fifty percent (50%) shall be awarded, at the discretion of the CEO,
with input from the Vice President, Hazardous Waste Operations for applicable
locations, based on achieving established annual priorities, regulatory compliance,
health and safety program effectiveness, effective use of Company resources,
completion of approved capital projects within budget and on schedule, development
of recommendations for out year permit expansions and investments in operating
facility plant and equipment, team work, and other evaluative factors.

Bonus Awards

	 	A)	 	Cash award at target performance

	 	i.	 	President and Chief Executive Officer: 75% of
Participant’s base salary

	 
	 	ii.	 	Senior Corporate Management: 35% of Participants’ base
salary for the Vice President & Chief Information Office, Vice President,
Hazardous Waste Operations and Vice President, Controller and Chief
Accounting Officer and 25% of base salary for the Vice President of Sales
and Marketing.

	 
	 	iii.	 	Operating Facility Management: 35% of Participants’
base salary.

The Board approved 2007 budget will serve as target performance goals.

	 	B)	 	An additional cash award of:

	 	i.	 	25% of base salary will be added to the President and
Chief Executive Officer’s award if the Company exceeds its 2007 corporate
consolidated operating income by 13% or more.

	 
	 	ii.	 	10% of base salary will be added to the Senior
Corporate Management group and the Operating Facility Management group
participants if the Company exceeds its 2007 corporate consolidated
operating income budget by 13% or more.

Any and all Bonus Awards shall be based on the availability of the Company’s final
audited financial statements for the Performance Period, prepared in accordance with
generally accepted accounting principles. For purposes of the Plan, “Operating
Income” is defined as Gross Profit less Selling, General and Administrative Expenses
after any accrual for Bonus Awards.

The Company shall pay Bonus Awards, if any, to Plan Participants upon certification
by the Company’s Chief Executive Officer and/or Chief Accounting Officer that such
payments are authorized by the Plan Administrator and all applicable criteria
contained herein have been met. All Bonus Award payments shall be made within a
reasonable time after approval and availability of the Company’s final audited
financial statements for the Performance period.

 

 

 

	4.	 	Procedure

The Plan Administrator shall have full power, discretion and authority to administer and
interpret the Plan, including the calculation and verification of all Bonus Awards, and to
establish rules and procedures for its
administration, as the Plan Administrator deems necessary and appropriate. Any
interpretation of the plan or other act of the Plan Administrator in administering the Plan
shall be final and binding on all Plan Participants. No member of the Plan Administrator or
the Board of Directors shall be liable for any action, interpretation, or construction made
in good faith with respect to the Plan. No member of the Plan Administrator shall
participate in the Plan. The Company shall indemnify, to the fullest extent permitted by
law, each member of the Board who becomes liable in any civil action or proceeding with
respect to decisions made relating to the Plan. The President and Chief Executive Officer
shall provide the Plan Administrator with a year-end report of Participants in the Plan and
their respective annual salaries and recommendations for evaluative factor Bonus Awards for
all participants other than himself, along with any other information that the Plan
Administrator may request. The Plan Administrator shall determine any evaluative factor
Bonus Award for the President and Chief Executive Officer.

	 
	 	 	A Plan Participant may be removed from the Plan, with no right to any Bonus Award under the
Plan, if it is determined in the discretion of the Plan Administrator that any of the
following have occurred:

	 	i.	 	a) Insubordination, misconduct, malfeasance, or any formal
disciplinary action taken by the Company during the performance year or prior to
payment.

b) Disability. Should a Participant not be actively at work for an extended period of
time due to an illness or injury, in such a way as to qualify for long-term
disability benefits, he/she may not receive a bonus.

	 
	 	ii.	 	Demotion. If a Plan Participant is removed from the Participant group
that made him or her eligible Participant under the Plan at any time during the
Performance Period, then such employee shall be deemed to be ineligible for
participation in the Plan and shall not receive any Bonus Award under the Plan.

	5.	 	Miscellaneous Provisions.

a) Employment Rights. The Plan does not constitute a contract of employment and
participation in the Plan will not give a Participant the right to continue in the employ of
the Company on a full-time, part-time or other basis or alter their at-will employment
status. Participation in the Plan will not give any Participant any right or claim to any
benefit under the Plan, unless such right or claim has specifically been granted by the Plan
Administrator under the terms of the Plan.

b) Plan Administrator’s Final Decision. Any interpretation of the Plan and any decision on
any matter pertaining to the Plan that is made by the Plan Administrator in its discretion
in good faith shall be binding on all persons.

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

d) Interests Not Transferable. Any interest of Participants under the Plan may not be
voluntarily sold, transferred, alienated, assigned or encumbered, other than by will or
pursuant to the laws of descent and distribution. Notwithstanding the foregoing, if a Plan
Participant dies during the Performance Period, or prior to payment of the Bonus Award, then
a pro rata portion of the Bonus Award earned by such deceased Participant shall be paid to
the deceased Participant’s beneficiary, as designated in writing by such Participant;
provided however, that if the deceased Participant has not designated a beneficiary then
such amount shall be payable to the deceased Participant’s estate.

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

f) Withholding. The Company will withhold from any amounts payable under the Plan applicable
withholding including federal, state, city and local taxes, FICA and Medicare as shall be
legally required. Additionally, the Company will withhold from any amounts payable under the
Plan, the applicable contribution for the Participant’s 401(k) Savings and Retirement Plan
as defined in the 401(K) Plan description protected under ERISA.

g) Effect on Other Plans or Agreements. Payments or benefits provided to a Plan Participant
under any stock, deferred compensation, savings, retirements or other employee benefit plan
are governed solely by the terms of each of such plans.

 

 

 

Effective Date

This Plan is effective as of January 1, 2007.

AMERICAN ECOLOGY CORPORATION

2007 Management Incentive Bonus Plan

ELIGIBLE PARTICIPANTS

President and Chief Executive Officer:

   Stephen A. Romano — 75%

Senior Corporate Management:

   John Cooper — Vice President and Chief Information Officer — 35%

   Simon Bell — Vice President, Hazardous Waste Operations — 35%

   Jeffrey R. Feeler — Vice President, Controller and CAO — 35%

   Steve Welling — Vice President, Sales and Marketing — 25%exv10w57

 

Exhibit 10.57

AMENDED AND RESTATED

EXECUTIVE EMPLOYMENT AGREEMENT

This AMENDED AND RESTATED EXECUTIVE EMPLOYMENT AGREEMENT (this “Employment Agreement”) is made
and entered into as of the 31st day of January, 2007 (the “Commencement Date”), by and
between AMERICAN ECOLOGY CORPORATION, a Delaware corporation (the “Company”), and STEPHEN ANTHONY
ROMANO, an individual (“Employee”). The Company and Employee are sometimes collectively referred
to herein as the “Parties,” and individually, as a “Party.”

WHEREAS, the Company has heretofore employed Employee pursuant to the terms and conditions of
an Executive Employment Agreement, dated February 11, 2003 (the “Prior Agreement”); and

WHEREAS, the Company and Employee desire to amend and restate the Prior Agreement, on the
terms and conditions set forth herein.

NOW, THEREFORE, in consideration of the premises, the mutual promises, covenants and
conditions herein contained and for other good and valuable considerations, the receipt and
sufficiency of which are hereby acknowledged, the Parties hereto, intending to be legally bound
hereby, agree as follows:

EMPLOYMENT. The Company hereby employs Employee, and Employee hereby accepts employment with the
Company, all upon the terms and subject to the conditions set forth in this Employment Agreement.

TERM OF EMPLOYMENT. The term of employment of Employee by the Company pursuant to this Employment
Agreement shall be for the period (the “Employment Period”) commencing on the Commencement Date set
forth above and ending December 31, 2009, or such earlier date that Employee’s employment is
terminated in accordance with the provisions of this Employment Agreement; provided, however, that
the Employment Period shall automatically renew for additional one (1) year periods if neither the
Company nor Employee has notified the other in writing of its or his intention not to renew this
Employment Agreement on or before ninety (90) days prior to the expiration of the Employment Period
(including any renewal(s) thereof).

CAPACITY AND DUTIES. Employee is and shall be employed in the capacity of President and Chief
Executive Officer of the Company and its subsidiaries and shall have such other duties,
responsibilities and authorities as may be assigned to him by the Board of Directors of the Company
(the “Board”) not materially inconsistent with Employee’s positions with the Company. Except as
otherwise herein provided, Employee shall devote his entire business time, best efforts and
attention to promote and advance the business of the Company and its subsidiaries and to perform
diligently and faithfully all the duties, responsibilities and obligations of Employee to be
performed by him under this Employment Agreement. Employee’s duties shall include all of those
duties being performed by Employee as of the date hereof. Employee shall report directly to the
Board.

PLACE OF EMPLOYMENT. Employee’s principal place of work shall be the main corporate office of the
Company, currently located in Boise, Idaho; provided, however, that the location of the Company and
any of its offices may be moved from time to time in the discretion of the Board.

NO OTHER EMPLOYMENT. During the Employment Period, Employee shall not be employed in any other
business activity, whether or not such activity is pursued for gain, profit or other pecuniary
advantage; provided, however, that this restriction shall not be construed as preventing Employee
from (i) participating in charitable, civic, educational, professional, community or industry
affairs; and (ii) investing his personal assets in a business which does not compete with the
Company or its subsidiaries or with any other company or entity affiliated with the Company, where
the form or manner of such investment will not require services on the part of Employee in the
operation of the affairs of the business in which such investment is made and in which his
participation is solely that of a passive investor or advisor, so long as the activities in clauses
(i) and (ii), above, do not materially interfere with the performance of Employee’s duties
hereunder or create a potential business conflict or the appearance thereof.

COMPENSATION. During the Employment Period, subject to all the terms and conditions of this
Employment Agreement and as compensation for all services to be rendered by Employee under this
Employment Agreement, the Company shall pay to or provide Employee with the following:

 

 

 

	1.	 	BASE SALARY. The Company shall pay to employee an annual base salary (“Base Salary”)
at the rate paid at the time this Employment Agreement is executed, or as adjusted in the
future by the Company, but in no case shall the annual Base Salary be less than $275,000.
Such Base Salary shall be payable in accordance with the regular payroll practices and
procedures of the Company.

	 
	2.	 	BONUS. Employee shall be eligible to participate in any cash bonus plans of the
Company which are in effect from time to time, including (i) the cash bonus opportunity
granted to Employee under the Company’s Long-Term Incentive Compensation Program, and (ii)
the annual cash bonus opportunity granted to Employee under the Company’s Management
Incentive Program, in each case on a basis no less favorable than as applicable to other
senior executives of the Company. Anything to the contrary in this Agreement
notwithstanding, the Company reserves the right to modify or eliminate any or all of its
cash bonus plans at any time.

	 
	3.	 	VACATION AND OTHER BENEFITS. Employee shall be entitled to vacation, and shall have
the right, on the same basis as other members of senior management of the Company, to
participate in any and all employee benefit plans and programs of the Company, including
medical plans, insurance plans and other benefit plans and programs as shall be, from time
to time, in effect for executive employees and management personnel of the Company. Such
participation shall be subject to the terms of the applicable plan documents, generally
applicable Company policies and the discretion of the Board of Directors or any
administrative or other committee provided for in, or contemplated by, each such plan or
program. Anything to the contrary in this Agreement notwithstanding, the Company reserves
the right to modify or terminate such benefit plans and programs at any time.

	 
	4.	 	OTHER. The Company may provide Employee with other or additional benefits not
specifically described herein. In such event, these other or additional benefits be
specified in writing and attached hereto in an attachment entitled, “Exhibit: Other
Benefits”.

	 
	5.	 	STOCK OPTION GRANTS. During the Employment Period, Employee shall be eligible to
participate in any equity-based incentive compensation plan or program adopted by the
Company, on a basis no less favorable than other senior executives of the Company.

EXPENSES. The Company shall reimburse Employee for all reasonable, ordinary and necessary expenses
including, but not limited to, automobile and other business travel and customer entertainment
expenses, incurred by him in connection with his employment in accordance with the Company’s
expense reimbursement policy; provided, however, Employee shall render to the Company a complete
and accurate accounting of all such expenses in accordance with the substantiation requirements of
the Internal Revenue Code, as amended (the “Code”), as a condition precedent to such reimbursement.

ADHERENCE TO STANDARDS. Employee shall comply with the written policies, standards, rules and
regulations of the Company from time to time established for all executive officers of the Company
consistent with Employee’s position and level of authority.

REVIEW OF PERFORMANCE. The Board shall periodically review and evaluate with Employee his
performance under this Employment Agreement.

PAYMENT UPON CHANGE OF CONTROL. Upon a Change of Control of the Company, Employee shall receive a
payment equal to two (2) times his then current Base Salary (the “Change of Control Payment”).
Such Change of Control Payment shall be paid in a single lump-sum payment, within forty-five (45)
days following the date of the Change of Control.

TERMINATION OF EMPLOYMENT. Employee’s employment and this Employment Agreement may be terminated
as follows (with the date of termination of Employee’s employment hereunder being referred to
hereinafter as the “Termination Date”):

	 	1.	 	By either Party by delivering notice of non-renewal as set forth in the Section
entitled “TERM OF EMPLOYMENT”, above;

	 
	 	2.	 	Upon no less than thirty (30) days’ written notice from the Company to Employee
at any time without Cause (as hereinafter defined) and other than due to Employee’s
death or Disability;

 

 

 

	 	3.	 	By the Company for Cause immediately upon written notice stating the basis for
such termination;

	 
	 	4.	 	Due to the death or Disability (as hereinafter defined) of Employee;

	 
	 	5.	 	By Employee at any time with or without Good Reason (as hereinafter defined)
upon thirty (30) days’ written notice from Employee to the Company (or such shorter
period to which the Company may agree); or

	 
	 	6.	 	Upon the mutual agreement of the Company and Employee.

In the event of termination of Employee’s employment with the Company for any reason, or if
Employee is required by the Board, Employee agrees to resign, and shall automatically be deemed to
have resigned, from any offices (including any directorship) Employee holds with the Company
effective as of the Termination Date or, if applicable, effective as of a date selected by the
Board.

TERMINATION BY THE COMPANY FOR CAUSE OR BY EMPLOYEE WITHOUT GOOD REASON. If
Employee’s employment and this Employment Agreement are terminated by the Company for Cause
(as hereinafter defined) or by Employee without Good Reason, the Company shall pay Employee
the Accrued Obligations (as hereinafter defined); provided, however, that in the event of a
termination of employment pursuant to this Section, Employee shall immediately and automatically
forfeit all vested and unvested stock options and all unvested shares of restricted stock.

TERMINATION BY THE COMPANY WITHOUT CAUSE OR BY EMPLOYEE FOR GOOD REASON. If
Employee’s employment and this Employment Agreement are terminated by the Company without
Cause or if Employee terminates his employment and this Employment Agreement for Good
Reason, the Company shall pay Employee the Accrued Obligations. In addition, Employee shall be
entitled to receive the following: (i) continued vesting of stock options for a period of twelve
(12) months following the Termination Date (such vested options to remain exercisable for the
shorter of one (1) year or the balance of the then-remaining term of this Employment Agreement);
(ii) continued vesting of restricted stock grants for a period of twelve (12) months following the
Termination Date; and (iii) continued medical, hospitalization, life insurance and disability
benefits to which he was entitled at the Termination Date (or the after-tax cost thereof) for a
period of twenty-four (24) months following the Termination Date (or until Employee receives
similar or comparable coverage from a new employer). All such additional payments, vesting and
benefits under this Section shall be conditional on Employee’s continued compliance with the
Sections entitled “CONFIDENTIALITY”, “WORK PRODUCT ASSIGNMENT” and “COVENANT NOT TO COMPETE”.

TERMINATION DUE TO DEATH. If Employee’s employment and this Employment Agreement are terminated
due to Employee’s death, the Company shall pay the estate of Employee the Accrued Obligations. In
addition, (i) all stock options held by Employee at the time of death shall become 100% vested, and
shall remain exercisable for a period which is the shorter of one (1) year or the balance of the
then-remaining term of this Employment Agreement; and (ii) all restricted stock grants held by
Employee at the time of death shall become 100% vested.

TERMINATION DUE TO DISABILITY. If Employee’s employment and this Employment Agreement are
terminated due to his Disability, Employee will be eligible to participate in the Company’s
Long-Term Disability Plan, on a basis no less favorable to Employee than other senior executives of
the Company. In addition, (i) all stock options held by Employee at the Termination Date shall
become 100% vested, and shall remain exercisable for a period which is the shorter of (1) year or
the balance of the then-remaining term of this Employment Agreement; and (ii) all restricted stock
grants held by Employee at the Termination Date shall become 100% vested.

TERMINATION WITHIN 12 MONTHS FOLLOWING A CHANGE OF CONTROL. If Employee’s employment and this
Employment Agreement are terminated by the Company (or its successor) without Cause or by
Employee for Good Reason within twelve (12) months following a Change of Control, the
Company shall pay Employee the Accrued Obligations. In addition, Employee shall be entitled to
receive the following: (i) a pro rata portion of the cash bonus payable to Employee under the
Management Incentive Program earned during the year in which the Change of Control occurred, if
any; and (ii) continued medical, hospitalization, life insurance and disability benefits to which
he was entitled at the Termination Date (or the after-tax cost thereof) for a period of twelve (12)
months following the Termination Date (or until Employee receives similar or comparable coverage
from a new employer). In addition, (i) all stock options held by Employee at the Termination Date
shall become 100% vested, and shall remain exercisable for a period which is the shorter of (1)
year or the balance of the then-remaining term of this Employment Agreement; and (ii) all
restricted stock grants held by Employee at the Termination Date shall become 100% vested.

 

 

 

RETIREMENT. If Employee’s employment and this Employment Agreement are terminated by virtue of
Employee’s Retirement, the Company shall pay Employee the Accrued Obligations. In addition, (i)
all stock options held by Employee at the date of Retirement shall become 100% vested, and shall
remain exercisable for the balance of the then-remaining term of this Employment Agreement; and
(ii) all restricted stock grants held by Employee at the date of Retirement shall become 100%
vested.

COMPLIANCE WITH SECTION 409A. In the event that (i) one or more payments of compensation or
benefits received or to be received by Employee pursuant to this Agreement (“Agreement Payment”)
would constitute deferred compensation subject to Section 409A of the Internal Revenue Code of
1986, as amended (the “Code”) and (ii) Employee is deemed at the time of such termination of
employment to be a “specified employee” under Section 409A(a)(2)(B)(i) of the Code, then such
Agreement Payment shall not be made or commence until the earlier of (i) the expiration of the six
(6)-month period measured from the date of Employee’s “separation from service” (as such term is at
the time defined in Treasury Regulations under Section 409A of the Code) with the Company or (ii)
such earlier time permitted under Section 409A of the Code and the regulations or other authority
promulgated thereunder; provided, however, that such deferral shall only be effected to the extent
required to avoid adverse tax treatment to Employee under Section 409A of the Code, including
(without limitation) the additional twenty percent (20%) tax for which Employee would otherwise be
liable under Section 409A(a)(1)(B) of the Code in the absence of such deferral. During any period
in which an Agreement Payment to Employee is deferred pursuant to the foregoing, Employee shall be
entitled to interest on the deferred Agreement Payment at a per annum rate equal to the highest
rate of interest applicable to six (6)-month non-callable certificates of deposit with daily
compounding offered by the following institutions: Citibank N.A., Wells Fargo Bank, N.A. or Bank of
America, on the date of such separation from service. Upon the expiration of the applicable
deferral period, any Agreement Payment which would have otherwise been made during that period
(whether in a single sum or in installments) in the absence of this paragraph shall be paid to
Employee or his or her beneficiary in one lump sum, including all accrued interest.

DEFINITIONS. In addition to the words and terms elsewhere defined in this Employment Agreement,
certain capitalized words and terms used in this Employment Agreement shall have the meanings given
to them by the definitions and descriptions in this Section entitled “DEFINITIONS”, unless the
context or use indicates another or different meaning or intent, and such definition shall be
equally applicable to both the singular and plural forms of any of the capitalized words and terms
herein defined. The following words and terms are defined terms under this Employment Agreement:

	 	1.	 	“Accrued Obligations” shall include (i) any unpaid Base Salary through the Termination
Date and any accrued vacation in accordance with the Company’s policy; (ii) any unpaid
bonus earned with respect to any fiscal year ending on or prior to the Termination Date;
(iii) reimbursement for any un-reimbursed business expenses incurred through the
Termination Date; and (iv) all other payments, benefits or fringe benefits to which
Employee may be entitled under the terms of any applicable compensation arrangement or
benefit, equity or fringe benefit plan or program or grant or this Employment Agreement.

	 
	 	2.	 	“Cause” shall mean a termination of this Employment Agreement by reason of a
determination by two-thirds (2/3) of the members of the Board voting that Employee:

	 	a.	 	Has engaged in willful neglect (other than neglect resulting from his
incapacity due to physical or mental illness) or misconduct;

	 
	 	b.	 	Has engaged in conduct the consequences of which are materially adverse
to the Company, monetarily or otherwise;

	 
	 	c.	 	Has materially breached the terms of this Employment Agreement or any
change in control or similar agreement in effect between Employee and the Company,
and such breach persisted after notice thereof from the Company and a reasonable
opportunity to cure; or

	 
	 	d.	 	Has been convicted of (or has plead guilty or no contest to) any felony
other than a traffic violation.

	 	3.	 	A “Change of Control” shall be deemed to have occurred upon:

	 	a.	 	the consummation of a merger or consolidation of the Company with or into
another entity or any other corporate reorganization, if more than 50% of the
combined voting power of the continuing or surviving entity’s securities outstanding
immediately after such merger, consolidation or other reorganization is
owned by persons who were not stockholders of the Company immediately prior to such
merger, consolidation or other reorganization; provided, however, that a public
offering of the Company’s securities shall not constitute a corporate reorganization;

 

 

 

	 	b.	 	stockholder approval of the sale, transfer, or other disposition of all
or substantially all of the Company’s assets;

	 
	 	c.	 	a change in the composition of the Board, as a result of which fewer than
50% of the incumbent directors are directors who either (x) had been directors of
the Company on the date 24 months prior to the date of the event that may constitute
a Change of Control (the “original directors”) or (y) were elected, or nominated for
election, to the Board with the affirmative votes of at least a majority of the
aggregate of the original directors who were still in office at the time of the
election or nomination and the directors whose election or nomination was previously
so approved;

	 
	 	d.	 	stockholder approval of a plan of liquidation; or

	 
	 	e.	 	any transaction as a result of which any person is the “beneficial owner”
(as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of
securities of the Company representing more than 50% of the total voting power
represented by the Company’s then outstanding voting securities. For purposes of
this paragraph 4.d, the term “person” shall have the same meaning as when used in
sections 13(d) and 14(d) of the Exchange Act, but shall exclude (x) a trustee or
other fiduciary holding securities under an employee benefit plan of the Company or
of a Subsidiary and (y) a corporation owned directly or indirectly by the
stockholders of the Company in substantially the same proportions as their ownership
of the common stock of the Company.

	4.	 	“Disability” shall be as defined in the Company’s Long-Term Disability Plan.

	 
	5.	 	“Good Reason” shall mean the occurrence of any of the following without Employee’s
prior written consent during the Employment Period, which occurrence continues for ten (10)
days after written notice thereof from Employee to the Board:

	 	a.	 	Any material diminution or adverse change in Employee’s position, status,
title, authorities or responsibilities, office or duties under this Employment
Agreement which represents a demotion from such position, status, title, authorities
or responsibilities, office or duties which are materially inconsistent with his
position, status, title, authorities or responsibilities, office or duties set forth
in this Employment Agreement, or any removal of Employee from, or failure to
appoint, elect, reappoint or reelect Employee to, any of his positions, except in
connection with the termination of his employment with or without Cause, or as a
result of his death or Disability; provided, however, that no change in position,
status, title, authorities or responsibilities, office or duties customarily
attributable solely to the Company ceasing to be a publicly-traded corporation shall
constitute Good Reason hereunder;

	 
	 	b.	 	The exclusion of Employee in any incentive, bonus or other compensation
plan in which Employee participated at the time that this Employment Agreement is
executed, unless an equitable arrangement (embodied in an ongoing substitute or
alternative plan) has been made with respect to the failure to continue such plan,
or the failure by the Company to continue Employee’s participation therein, or any
action by the Company which would directly or indirectly materially reduce his
participation therein or reward opportunities thereunder; provided, however, that
Employee continues to meet all eligibility requirements thereof. Notwithstanding the
foregoing, this provision shall not apply to the exclusion of Employee in any
incentive, bonus or other compensation plan in which Employee participated at the
time that this Employment Agreement is executed to the extent that such termination
is required by law;

	 
	 	c.	 	Any amendment, modification or termination of the Company’s Management
Incentive Plan which materially and adversely affects Employee’s rights thereunder.

 

 

 

	 
	 	d.	 	The failure by the Company to continue in effect any employee benefit
plan (including any medical, hospitalization, life insurance or disability benefit
plan in which Employee participates), or any material fringe benefit or prerequisite
enjoyed by him unless an equitable arrangement (embodied in an ongoing substitute or
alternative plan) has been made with respect to the failure to continue such plan,
or the failure by the Company to continue Employee’s participation therein, or any action by
the Company which would directly or indirectly materially reduce his participation
therein or reward opportunities thereunder, or the failure by the Company to provide
him with the benefits to which he is entitled under this Employment Agreement;
provided, however, that Employee continues to meet all eligibility requirements
thereof. Notwithstanding the foregoing, this provision shall not apply to the
exclusion of Employee in any employee benefit plan in which Employee participated at
the time that this Employment Agreement is executed to the extent that such
termination is required by law, or to such failure to continue any employee benefit
plan or fringe benefit, or Employee’s participation therein or reward opportunity
thereunder if such failure to continue such plan or benefit is applicable to the
Company’s executive officers and/or employees generally;

	 	e.	 	Any material breach by the Company of any provision of this Employment
Agreement; or

	 
	 	f.	 	The failure of the Company to obtain a reasonably satisfactory agreement
from any successor or assign of the Company to assume and agree to perform this
Employment Agreement, as contemplated in the Section entitled “SUCCESSORS” hereof.

	 	7.	 	“Retirement” shall mean retirement upon “normal retirement age” as defined in
the Company’s 401(k) retirement plan.

RETURN OF PROPERTY. Employee agrees, upon the termination of his employment with the Company, to
return all physical, computerized, electronic or other types of records, documents, proposals,
notes, lists, files and any and all other materials, including without limitation, computerized
and/or electronic information that refers, relates or otherwise pertains to the Company and/or its
subsidiaries, and any and all business dealings of said persons and entities. In addition,
Employee shall return to the Company all property and equipment that Employee has been issued
during the course of his employment or which he otherwise currently possesses, including but not
limited to, any computers, cellular phones, Palm Pilots, pagers, Blackberrys and/or similar items.
Employee shall immediately deliver to the Company any such physical, computerized, electronic or
other types of records, documents, proposals, notes, lists, files, materials, property and
equipment that are in Employee’s possession. Employee further agrees that he will immediately
forward to the Company any business information regarding the Company and/or its subsidiaries that
has been or is inadvertently directed to Employee following Employee’s last day of employment with
the Company. The provisions of this Section are in addition to any other written agreements on
this subject that Employee may have with the Company and/or its subsidiaries, and are not meant to
and do not excuse any additional obligations that Employee may have under such agreements.

NOTICES. For the purposes of this Employment Agreement, notices and all other communications
provided for in the Employment Agreement shall be in writing and shall be deemed to have been duly
given when personally delivered or sent by certified mail, return receipt requested, postage
prepaid, or by expedited (overnight) courier with established national reputation, shipping prepaid
or billed to sender, in either case addressed to the respective addresses last given by each Party
to the other (provided that all notices to the Company shall be directed to the attention of the
Chairman, Board, with a copy to the Secretary of the Company) or to such other address as either
Party may have furnished to the other in writing in accordance herewith. All notices and
communication shall be deemed to have been received on the date of delivery thereof, or on the
second day after deposit thereof with an expedited courier service, except that notice of change of
address shall be effective only upon receipt.

	 	•	 	Company at: 300 East Mallard Drive, Suite 300, Boise, Idaho 83706.

	 
	 	•	 	Employee at: 2134 South Pebblecreek Lane, Boise, Idaho 83706.

LIFE INSURANCE. The Company may, at any time after the execution of this Employment Agreement,
apply for and procure as owner and for its own benefit, life insurance on Employee, in such amounts
and in such form or forms as the Company may determine. Employee shall, at the request of the
Company, submit to such medical examinations, supply such information, and execute such documents
as may be required by the insurance company or companies to whom the Company has applied for such
insurance. Employee hereby represents that to his knowledge he is in excellent physical and mental
condition and is not under the influence of alcohol, drugs or similar substance.

 

 

 

CONFIDENTIALITY. Employee agrees not to disclose or reveal to any person or entity outside the
Company any secret or confidential information concerning any Company product, process, equipment,
machinery, design, formula, business, or other activity (collectively, “Confidential Information”)
without prior permission of Company in writing. Confidential
Information shall not include any information which is in the public domain or becomes publicly
known through no wrongful act on the part of Employee or breach of this Employment Agreement.
Employee acknowledges that the Confidential Information is vital, sensitive, confidential and
proprietary to the Company. The obligation to protect the secrecy of such information continues
after employment with Company may be terminated. In furtherance of this agreement, Employee
acknowledges that all Confidential Information which Employee now possesses, or shall hereafter
acquire, concerning and pertaining to the business and secrets of the Company and all inventions or
discoveries made or developed, or suggested by or to Employee during said term of employment
relating to Company’s business shall, at all times and for all purposes, be regarded as acquired
and held by Employee in his fiduciary capacity and solely for the benefit of Company.

WORK PRODUCT ASSIGNMENT. Employee agrees that all inventions, innovations, improvements, technical
information, systems, software developments, methods, designs, analyses, drawings, reports, service
marks, trademarks, trade names, logos and all similar or related information (whether patentable or
unpatentable) which relate to the Company’s or any of its subsidiaries or affiliates’ actual or
anticipated business, research and development or existing or future products or services and which
are conceived, developed or made by Employee (whether or not during usual business hours and
whether or not alone or in conjunction with any other person) while employed by the Company
(including those conceived, developed or made prior to the Commencement Date of this Agreement)
together with all patent applications, letters patent, trademark, trade name and service mark
applications or registrations, copyrights and reissues thereof that may be granted for or upon any
of the foregoing (collectively referred to herein as the “Work Product”), belong in all instances
to the Company or its subsidiaries or affiliates, and Employee hereby assigns to the Company all
Work Product and all of Employee’s interest therein. Employee will promptly perform all actions
reasonably requested by the Board (whether during or after his employment with the Company) to
establish and confirm the Company’s or its subsidiaries or affiliates’ ownership of such Work
Product (including, without limitation, the execution and delivery of assignments, consents, powers
of attorney and other instruments) and to provide reasonable assistance to the Company or any of
its subsidiaries and affiliates in connection with the prosecution of any applications for patents,
trademarks, trade names, service marks or reissues thereof or in the prosecution or defense of
interferences relating to any Work Product.

COVENANT NOT TO COMPETE. Employee acknowledges that his employment with the Company has special,
unique and extraordinary value to the Company; that the Company has a lawful interest in protecting
its investment in entrusting its Confidential Information to him; and that the Company would be
irreparably damaged if Employee were to provide services to any person or entity in violation of
this Employment Agreement because in performing such services Employee would inevitably disclose
the Company’s Confidential Information to third parties and that the restrictions, prohibitions and
other provision of this Section are reasonable, fair and equitable in scope, terms, and duration to
protect the legitimate business interests of the Company, and are a material inducement to the
Company to enter into this Employment Agreement.

	 	1.	 	Non-Competition. Without the consent in writing of the Board, Employee will not,
during the Employment Agreement and, in the event of the termination of Employee’s
employment by the Company for Cause or by Employee without Good Reason, for a period of two
(2) years after such termination of employment if by the Company for Cause or by Employee
without Good Reason, acting alone or in conjunction with others, directly or indirectly
engage (either as owner, investor, partner, stockholder, employer, employee, consultant,
advisor or director) in activities on behalf of any entity or entities engaged in waste
processing and disposal services for low-level radioactive-wastes, naturally occurring,
accelerator produced, and exempt radioactive materials, and hazardous and PCB wastes. It
is agreed that the ownership of not more than five percent of the equity securities of any
company having securities listed on an exchange or regularly traded in the over-the-counter
market shall not, of itself, be deemed inconsistent with this sub-paragraph.

	 
	 	2.	 	Non-Solicitation of Vendors and Customers. Without the consent in writing of the Board,
after Employee’s employment has terminated for any reason, Employee will not, during the
Employment Agreement and for a period of one (1) year thereafter (two (2) years thereafter
if employment is terminated by the Company for Cause or by Employee without Good Reason),
acting alone or in conjunction with others, either directly or indirectly induce any
vendors or customers of the Company to curtail or cancel their business with the Company or
any of its subsidiaries.

	 
	 	3.	 	Non-Solicitation of Employees. Without the consent in writing of the Board, after
Employee’s employment has terminated for any reason, Employee will not, during the
Employment Agreement and for a period of two (2) years thereafter, acting alone or in
conjunction with others, either directly or indirectly induce, or attempt to influence, any
employee of the Company or any of its subsidiaries to terminate his/her employment.

 

 

 

The provisions of the Sections entitled “CONFIDENTIALITY” and “WORK PRODUCT ASSIGNMENT” hereof and
subparagraphs (1), (2), and (3) of this Section are separate and distinct commitments independent
of each of the other Sections. Employee acknowledges that the covenants and agreements, which he
has made in this Employment Agreement are reasonable and are required for the reasonable protection
of the Company and its business. Employee agrees that the breach of any covenant or agreement
contained herein will result in irreparable injury to the Company and that, in addition to all
other remedies provided by law or in equity with respect to the breach of any provision of this
Employment Agreement, the Company and its successors and assigns will be entitled to enforce the
specific performance by Employee of his obligations hereunder and to enjoin him from engaging in
any activity in violation hereof and that no claim by Employee against the Company or its
successors or assigns will constitute a defense or bar to the specific enforcement of such
obligations. Employee agrees that the Company and any successor or assign shall be entitled to
recover all costs of enforcing any provision of this Employment Agreement, including, without
limitation, reasonable attorneys’ fees and costs of litigation. In the event of a breach by
Employee of any covenant or agreement contained herein, the running of the restrictive covenant
periods (but not of Employee’s obligations hereunder) shall be tolled during the period of the
continuance of any actual breach or violation.

In addition, the Company may, at the sole discretion of the Board, cancel, rescind, suspend,
withhold or otherwise limit or restrict any unexpired, unexercised stock options and any bonus
payouts under the Company’s Long-Term Incentive Plan and/or Management Incentive Plan granted to
Employee, whether vested or not, at any time if Employee is not in compliance with all of the
provisions of the Sections entitled “CONFIDENTIALITY” and “WORK PRODUCT ASSIGNMENT” hereof and
subparagraphs (1), (2), and (3) of this Section. As a condition to the exercise of any stock
option or the receipt of any such bonus payout, Employee shall certify to the Company that he is in
compliance with the provisions set forth above. In the event that Employee fails to comply with
the provisions set forth in the Sections entitled “CONFIDENTIALITY” and “WORK PRODUCT ASSIGNMENT”
hereof and in subparagraphs (1), (2) and (3) of this Section prior to or within twelve (12) months
after any exercise of a stock option or payment by the Company with respect to any stock options or
bonus payout, such exercise or payment may be rescinded by the Company within twelve (12) months
thereafter. In the event of such rescission, Employee shall pay to the Company the amount of any
gain realized or payment received as a result of the rescinded exercise or payment, in such manner
and on such terms and conditions as may be required by the Company, and the Company shall be
entitled to set-off against the amount of such gain any amount owed to Employee by the Company.
Employee acknowledges that the foregoing provisions are fair, equitable and reasonable for the
protection of the Company’s interests in a stable workforce and the time and expense the Company
has incurred to develop its business and its customer and vendor relationships.

PRIOR EMPLOYMENT AGREEMENTS. Employee represents and warrants that Employee’s performance of all
the terms of this Employment Agreement and as an employee of the Company does not, and will not,
breach any employment agreement, arrangement or understanding or any agreement, arrangement or
understanding to keep in confidence proprietary information acquired by Employee in confidence or
in trust prior to Employee’s employment by the Company. Employee has not entered into, and shall
not enter into, any agreement, arrangement or understanding, either written or oral, which is in
conflict with this Employment Agreement or which would be violated by Employee entering into, or
carrying out his obligations under, this Employment Agreement. This Employment Agreement
supersedes any former oral agreement and any former written agreement heretofore executed relating
generally to the employment of Employee with the Company, including without limitation, the Prior
Agreement; provided, however, that nothing in this Section shall be deemed to terminate, supersede,
extinguish or otherwise amend any outstanding stock options or stock option agreements currently in
effect between Employee and the Company.

SUCCESSORS. This Employment Agreement shall be binding on the Company and any successor to any of
its businesses or assets. Without limiting the effect of the prior sentence, the Company shall use
its best efforts to require any successor or assign (whether direct or indirect, by purchase,
merger, consolidation or otherwise) to all or substantially all of the business and/or assets of
the Company to expressly assume and agree to perform this Employment Agreement in the same manner
and to the same extent that the Company would be required to perform it if no such succession or
assignment had taken place. As used in this Employment Agreement, “Company” shall mean the Company
as hereinbefore defined and any successor or assign to its business and/or assets as aforesaid
which assumes and agrees to perform this Employment Agreement or which is otherwise obligated under
this Employment Agreement by the first sentence of this Section entitled “SUCCESSORS”, by operation
of law or otherwise.

ASSIGNMENT; BINDING EFFECT. This Employment Agreement may not be assigned by Employee in whole or
in part. Notwithstanding the foregoing, this Employment Agreement shall inure to the benefit of
and be enforceable by Employee’s personal representatives, executors, administrators, successors,
heirs, distributees, devisees and legatees. If Employee should die while any amounts would still
be payable to him hereunder if he had continued to live, all such
amounts, unless otherwise provided herein, shall be paid in accordance with the terms of this
Employment Agreement to Employee’s estate.

 

 

 

HEADINGS. Headings used in this Employment Agreement are for convenience only and shall not be
used to interpret or construe its provisions.

WAIVER. No provision of this Employment Agreement may be waived or discharged unless such waiver
or discharge is agreed to in writing and signed by the Chairman of the Board or any other member of
the Board to whom the Chairman delegates such authority. No waiver by either Party hereto at any
time of any breach by the other party hereto of, or compliance with, any condition or provision of
this Employment Agreement to be performed by such other Party shall be deemed a waiver of similar
or dissimilar provisions or conditions at the same or at any prior or subsequent time.

AMENDMENTS. No amendments or variations of the terms and conditions of this Employment Agreement
shall be valid unless the same is in writing and signed by the Parties hereto.

SEVERABILITY. The invalidity or unenforceability of any provision of this Employment Agreement,
whether in whole or in part, shall not in any way affect the validity and/or enforceability of any
other provision contained herein. Any invalid or unenforceable provision shall be deemed severable
to the extent of any such invalidity or unenforceability. It is expressly understood and agreed
that while the Company and Employee consider the restrictions contained in this Employment
Agreement reasonable for the purpose of preserving for the Company the good will, other proprietary
rights and intangible business value of the Company, if a final judicial determination is made by a
court having jurisdiction that the time or territory or any other restriction contained in this
Employment Agreement is an unreasonable or otherwise unenforceable restriction against Employee,
the provisions of such clause shall not be rendered void but shall be deemed amended to apply as to
maximum time and territory and to such other extent as such court may judicially determine or
indicate to be reasonable.

GOVERNING LAW. This Employment Agreement shall be construed and enforced pursuant to the laws of
the State of Idaho.

DISPUTE RESOLUTION. Except as described below in the Section entitled “REMEDY FOR BREACH OF
RESTRICTIVE COVENANTS”:

	 	1.	 	The Company and Employee agree to resolve all disputes arising out of their employment
relationship by the following alternative dispute resolution process: (a) the Company and
Employee agree to seek a fair and prompt negotiated resolution; but if this is not
possible, (b) all disputes shall be resolved by binding arbitration; provided, however,
that during this process, at the request of either Party, made not later than sixty (60)
days after the initial arbitration demand, the Parties agree to attempt to resolve any
dispute by non-binding, third-party intervention, including either mediation or evaluation
or both but without delaying the arbitration hearing date. BY ENTERING INTO THIS
EMPLOYMENT AGREEMENT, BOTH PARTIES GIVE UP THEIR RIGHT TO HAVE THE DISPUTE DECIDED IN COURT
BY A JUDGE OR JURY.

	 
	 	2.	 	Any controversy or claim arising out of or connected with Employee’s employment at the
Company, including but not limited to claims for compensation or severance and claims of
wrongful termination, age, sex or other discrimination or civil rights shall be decided by
arbitration. In the event the Parties cannot agree on an arbitrator, then the arbitrator
shall be selected by the administrator of the American Arbitration Association (“AAA”)
office in Salt Lake City, Utah. The arbitrator shall be an attorney with at least 15
years’ experience in employment law in Idaho. Boise, Idaho shall be the site of the
arbitration. All statutes of limitation, which would otherwise be applicable, shall apply
to any arbitration proceeding hereunder. Any issue about whether a controversy or claim is
covered by this Employment Agreement shall be determined by the arbitrator.

	 
	 	3.	 	The arbitration shall be conducted in accordance with this Employment Agreement, using
as appropriate the AAA Employment Dispute Resolution Rules in effect on the date hereof.
The arbitrator shall not be bound by the rules of evidence or of civil procedure, but
rather may consider such writings and oral presentations as reasonable business people
would use in the conduct of their day-to-day affairs, and may require both Parties to
submit some or all of their respective cases by written declaration or such other manner of
presentation as the arbitrator may determine to be appropriate. The Parties agree to limit
live testimony and cross-examination to the extent necessary to ensure a fair hearing on
material issues.

 

 

 

	 	4.	 	The arbitrator shall take such steps as may be necessary to hold a private hearing
within 120 days of the initial request for arbitration and to conclude the hearing within
two days; and the arbitrator’s written decision shall be made not later than 14 calendar
days after the hearing. The Parties agree that they have included these time limits in
order to expedite the proceeding, but they are not jurisdictional, and the arbitrator may
for good cause allow reasonable extensions or delays, which shall not affect the validity
of the award. Both written discovery and depositions shall be allowed. The extent of such
discovery will be determined by the Parties and any disagreements concerning the scope and
extent of discovery shall be resolved by the arbitrator. The written decision shall
contain a brief statement of the claim(s) determined and the award made on each claim. In
making the decision and award, the arbitrator shall apply applicable substantive law. The
arbitrator may award injunctive relief or any other remedy available from a judge,
including consolidation of this arbitration with any other involving common issues of law
or fact which may promote judicial economy, and may award attorneys’ fees and costs to the
prevailing Party, but shall not have the power to award punitive or exemplary damages. The
Parties specifically state that the agreement to limit damages was agreed to by the Parties
after negotiations.

REMEDY FOR BREACH OF RESTRICTIVE COVENANTS. Notwithstanding any other provisions of this
Employment Agreement, Employee agrees that damages in the event of a breach or a threatened breach
by Employee of the Sections entitled “CONFIDENTIALITY” and “COVENANT NOT TO COMPETE” would be
difficult if not impossible to ascertain and an inadequate remedy, and it is therefore agreed that
the Company, in addition to and without limiting any other remedy or right it may have, shall have
the right to an immediate injunction or other equitable relief enjoining any such threatened or
actual breach, without any requirement to post bond or provide similar security. The existence of
this right shall not preclude the Company from pursuing any other rights and remedies at law or in
equity that the Company may have, including recovery of damages for any breach of such Sections.

ATTORNEYS’ FEES.

	 	1.	 	In any action at law or in equity to enforce any of the provisions or rights under this
Employment Agreement, the unsuccessful Party to such litigation, as determined by the
arbitrator in accordance with the dispute resolution provisions set forth above, shall pay
the successful Party or Parties all costs, expenses and reasonable attorneys’ fees incurred
therein by such Party or Parties (including, without limitation, such costs, expenses and
fees on appeal), and if such successful Party or Parties shall recover judgment in any such
action or proceeding, such costs, expenses and attorneys’ fees shall be included as part of
such judgment.

	 
	 	2.	 	Notwithstanding the foregoing provision, in no event shall the successful Party or
Parties be entitled to recover an amount from the unsuccessful Party for costs, expenses
and attorneys’ fees that exceeds the unsuccessful Party’s or Parties’ costs, expenses and
attorneys’ fees in connection with the action or proceeding.

EXECUTIVE OFFICER STATUS. Employee acknowledges that he may be deemed to be an “executive officer”
of the Company for purposes of the Securities Act of 1993, as amended (the “1933 Act”), and the
Securities Exchange Act of 1934, as amended (the “1934 Act”) and, if so, he shall comply in all
respects with all the rules and regulations under the 1933 Act and the 1934 Act applicable to him
in a timely and non-delinquent manner. In order to assist the Company in complying with its
obligations under the 1933 Act and 1934 Act, Employee shall provide to the Company such information
about Employee as the Company shall reasonably request including, but not limited to, information
relating to personal history and stockholdings. Employee shall report to the Secretary of the
Company or other designated officer of the Company all changes in beneficial ownership of any
shares of the Company’s Common Stock deemed to be beneficially owned by Employee and/or any members
of Employee’s immediate family. Employee further agrees to comply with all requirements placed on
him by the Sarbanes-Oxley Act of 2002, Pub.L. NO. 107-204.

TAX WITHHOLDING. To the extent required by law, the Company shall deduct or withhold from any
payments under this Employment Agreement all applicable Federal, state or local income taxes,
Social Security, FICA, FUTA and other amounts that the Company determines in good faith are
required by law to be withheld..

PRONOUNS. All pronouns and any variations thereof shall be deemed to refer to the masculine,
feminine, neuter, singular, or plural, as the identity of the person or entity may require. As
used in this agreement: (1) words of the masculine gender shall mean and include corresponding
neuter words or words of the feminine gender, (2) words in the singular shall mean and include the
plural and vice versa, and (3) the word “may” gives sole discretion without any obligation to take
any action.

 

 

 

COUNTERPARTS. This Employment Agreement may be executed in one or more counterparts, each of which
shall be deemed to be an original, but all of which together shall constitute but one document.

EXHIBITS. Any Exhibits attached hereto are incorporated herein by reference and are an integral
part of this Employment Agreement and are deemed incorporated herein by reference.

EMPLOYEE COUNSEL. Employee acknowledges that he has had the opportunity to review this Employment
Agreement and the transactions contemplated hereby with his own legal counsel.

[SIGNATURE PAGE FOLLOWS]

 

 

 

IN WITNESS WHEREOF, this Amended and Restated Executive Employment Agreement has been duly
executed by the Company and Employee as of the date first above written.

EMPLOYEE:

	 	 	 	 	 
	 

	 	 	 	/s/ Stephen Anthony Romano
	 

	 	 	 	 
	 

	 	 	 	STEPHEN ANTHONY ROMANO
	 
	 	 	 	 
	 

	 	 	 	AMERICAN ECOLOGY CORPORATION:
	 
	 	 	 	 
	 

	 	By:
	 	/s/ Kenneth C. Leung
	 

	 	 	 	 
	 
	 	 	 	 
	 

	 	Name:
	 	KENNETH C. LEUNG
	 

	 	 	 	 
	 
	 	 	 	 
	 

	 	Its:
	 	Chairman of the Board of Directors

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