Document:

EX-10.3

 Exhibit 10.3 

JARDEN CORPORATION 
 2013
STOCK INCENTIVE PLAN 
 RESTRICTED STOCK AGREEMENT 

FOR 
 James E. Lillie 

1. Award of Restricted Stock. Jarden Corporation (the “Company”) hereby grants, as of January 2, 2015 (the “Date
of Grant”), to James E. Lillie (the “Recipient”), 186,513 restricted shares of the Company’s common stock, par value $0.01 per share (collectively the “Restricted Stock”). The Restricted Stock shall be
subject to the terms, provisions and restrictions set forth in this Agreement and the Jarden Corporation 2013 Stock Incentive Plan (the “Plan”), which is incorporated herein for all purposes. As a condition to entering into this
Agreement, and as a condition to the issuance of any Shares (or any other securities of the Company), the Recipient agrees to be bound by all of the terms and conditions herein and in the Plan. Unless otherwise provided herein, terms used herein
that are defined in the Plan and not defined herein shall have the meanings attributable thereto in the Plan. 
  

	2.	Vesting of Restricted Stock. 

 (a) Performance Conditions. The
shares of Restricted Stock shall become vested on the last day of any five consecutive trading day period during which the average closing price of the Shares on the New York Stock Exchange (or such other securities exchange on which the Shares may
then be traded) equals or exceeds fifty dollars and twenty-eight cents per share ($50.28) (such date, the “Vesting Date”), provided that the Vesting Date must occur, if at all, prior to the fifth anniversary of the Date of Grant.

 In the event that a Change of Control of the Company occurs during the Recipient’s Continuous Service, the shares of Restricted
Stock subject to this Agreement shall become immediately vested as of the date of the Change of Control of the Company, unless either (i) the Company is the surviving entity in the Change of Control of the Company and the Restricted Stock Award
continues to be outstanding after the Change of Control of the Company on substantially the same terms and conditions as were applicable immediately prior to the Change of Control of the Company or (ii) the successor company or its parent
company assumes or substitutes for the Restricted Stock Award, as determined in accordance with Section 10(c)(ii) of the Plan. 

Except as otherwise provided in Section 4 hereof, or in the Fourth Amended and Restated Employment Agreement, dated as of July 23,
2012, as amended (the “Employment Agreement”), by and between the Company and the Recipient, there shall be no proportionate or partial vesting of shares of Restricted Stock in or during the months, days or periods prior to the
Vesting Date, and all vesting of shares of Restricted Stock shall occur only on the applicable Vesting Date. 
 (b)
Definitions. For purposes of this Agreement, the following terms shall have the meanings indicated: 

 (i) “Change of Control of the Company” has the meaning assigned thereto
in the Employment Agreement. 
 (ii) “Non-Vested Shares” means any portion of the Restricted Stock subject to this
Agreement that has not become vested pursuant to this Section 2. 
 (iii) “Vested Shares” means any portion of
the Restricted Stock subject to this Agreement that is and has become vested pursuant to this Section 2. 
  

	3.	Delivery of Restricted Stock. 

 (a) Issuance of Stock Certificates and
Legends. One or more stock certificates evidencing the Restricted Stock shall be issued in the name of the Recipient but shall be held and retained by the Company until the date (the “Applicable Date”) on which the shares
(or a portion thereof) subject to this Restricted Stock award become Vested Shares pursuant to Section 2 hereof, subject to the provisions of Section 4 hereof. All such stock certificates shall bear the following legends, along with such
other legends that the Board or the Committee shall deem necessary and appropriate or which are otherwise required or indicated pursuant to any applicable stockholders agreement: 

THE SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO SUBSTANTIAL VESTING AND OTHER RESTRICTIONS AS SET FORTH IN THE RESTRICTED STOCK
AGREEMENT BETWEEN THE ISSUER AND THE ORIGINAL HOLDER OF THE SHARES, A COPY OF WHICH MAY BE OBTAINED AT THE PRINCIPAL OFFICE OF THE ISSUER. SUCH RESTRICTIONS ARE BINDING ON TRANSFEREES OF THESE SHARES, AND INCLUDE VESTING CONDITIONS WHICH MAY RESULT
IN THE COMPLETE FORFEITURE OF THE SHARES. 
 (b) Stock Powers. The Recipient shall deposit with the Company stock powers or
other instruments of transfer or assignment, duly endorsed in blank with signature(s) guaranteed, corresponding to each certificate representing shares of Restricted Stock until such shares become Vested Shares. If the Recipient shall fail to
provide the Company with any such stock power or other instrument of transfer or assignment, the Recipient hereby irrevocably appoints the Secretary of the Company as his attorney-in-fact, with full power of appointment and substitution, to execute
and deliver any such power or other instrument which may be necessary to effectuate the transfer of the Restricted Stock (or assignment of distributions thereon) on the books and records of the Company. 

(c) Delivery of Stock Certificates. On or after each Applicable Date, upon written request to the Company by the Recipient, the
Company shall promptly cause a new certificate or certificates to be issued for and with respect to all shares that become Vested Shares on that Applicable Date, which certificate(s) shall be delivered to the Recipient as soon as administratively
practicable after the date of receipt by the Company of the Recipient’s written request. The new certificate or certificates shall continue to bear those legends and endorsements that the Company shall deem necessary or appropriate (including
those relating to restrictions on transferability and/or obligations and restrictions under the Securities Laws). 

  
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 (d) Issuance Without Certificates. If the Company is authorized to issue Shares
without certificates, then the Company may, in the discretion of the Committee, issue Shares pursuant to this Agreement without certificates, in which case any references in this Agreement to certificates shall instead refer to whatever evidence may
be issued to reflect the Recipient’s ownership of the Shares subject to the terms and conditions of this Agreement. 
 4. Forfeiture of
Non-Vested Shares. If the Recipient’s Continuous Service with the Company and the Related Entities is terminated for any reason, any Shares of Restricted Stock that are not Vested Shares, and that do not become Vested Shares pursuant to
Section 2 hereof or pursuant to the Employment Agreement as a result of such termination, shall be forfeited immediately upon such termination of Continuous Service and revert back to the Company without any payment to the Recipient. The
Committee shall have the power and authority to enforce on behalf of the Company any rights of the Company under this Agreement in the event of the Recipient’s forfeiture of Non-Vested Shares pursuant to this Section 4. Vested Shares shall
not be subject to forfeiture, cancellation or reimbursement. 
  

	5.	Rights with Respect to Restricted Stock. 

 (a) General. Except as
otherwise provided in this Agreement, the Recipient shall have, with respect to all of the shares of Restricted Stock, whether Vested Shares or Non-Vested Shares, all of the rights of a holder of shares of common stock of the Company, including
without limitation (i) the right to vote such Restricted Stock, (ii) the right to receive dividends, if any, as may be declared on the Restricted Stock from time to time, and (iii) the rights available to all holders of shares of
common stock of the Company upon any merger, consolidation, reorganization, liquidation or dissolution, stock split-up, stock dividend or recapitalization undertaken by the Company; provided, however, that all
of such rights shall be subject to the terms, provisions, conditions and restrictions set forth in this Agreement (including without limitation conditions under which all such rights shall be forfeited). Any Shares or other property issued to the
Recipient as a dividend with respect to shares of Restricted Stock shall be subject to restrictions and a risk of forfeiture to the same extent as the Restricted Stock with respect to which such Shares or other property have been distributed. In
addition, notwithstanding any provision to the contrary herein, any cash dividends declared with respect to shares of Restricted Stock subject to this Agreement shall be held in escrow by the Committee until such time as the shares of Restricted
Stock that such cash dividends are attributed to shall become Vested Shares, and in the event that such shares of Restricted Stock are subsequently forfeited, the cash dividends attributable to such portion shall be forfeited as well. 

(b) Adjustments to Shares. If at any time while this Agreement is in effect (or Shares granted hereunder shall be or remain
unvested while Recipient’s Continuous Service continues and has not yet terminated or ceased for any reason), there shall be any increase or decrease in the number of issued and outstanding Shares of the Company through the declaration of a
stock dividend or through any recapitalization resulting in a stock split-up, combination or exchange of such Shares, then and in that event, the Board or the Committee shall make any adjustments it deems fair and appropriate, in view of such
change, in the number of shares of Restricted Stock then subject to this Agreement. If any such adjustment shall result in a fractional Share, such fraction shall be disregarded. 

  
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 (c) No Restrictions on Certain Transactions. Notwithstanding any term or provision
of this Agreement to the contrary, the existence of this Agreement, or of any outstanding Restricted Stock awarded hereunder, shall not affect in any manner the right, power or authority of the Company to make, authorize or consummate: (i) any
or all adjustments, recapitalizations, reorganizations or other changes in the Company’s capital structure or its business; (ii) any merger, consolidation or similar transaction by or of the Company; (iii) any offer, issue or sale by
the Company of any capital stock of the Company, including any equity or debt securities, or preferred or preference stock that would rank prior to or on parity with the Restricted Stock and/or that would include, have or possess other rights,
benefits and/or preferences superior to those that the Restricted Stock includes, has or possesses, or any warrants, options or rights with respect to any of the foregoing; (iv) the dissolution or liquidation of the Company; (v) any sale,
transfer or assignment of all or any part of the stock, assets or business of the Company; or (vi) any other corporate transaction, act or proceeding (whether of a similar character or otherwise). 

6. Transferability. Unless otherwise determined by the Committee, the shares of Restricted Stock are not transferable unless and until they
become Vested Shares in accordance with this Agreement, otherwise than by will or under the applicable laws of descent and distribution. The terms of this Agreement shall be binding upon the executors, administrators, heirs, successors and assigns
of the Recipient. Except as otherwise permitted pursuant to the first sentence of this Section, any attempt to effect a Transfer of any shares of Restricted Stock prior to the date on which the shares become Vested Shares shall be void ab
initio. For purposes of this Agreement, “Transfer” shall mean any sale, transfer, encumbrance, gift, donation, assignment, pledge, hypothecation, or other disposition, whether similar or dissimilar to those previously enumerated,
whether voluntary or involuntary, and including, but not limited to, any disposition by operation of law, by court order, by judicial process, or by foreclosure, levy or attachment. 

 

	7.	Tax Matters; Section 83(b) Election. 

 (a) Section 83(b)
Election. The Recipient may elect, within thirty (30) days of the Date of Grant, to include in gross income for federal income tax purposes an amount equal to the Fair Market Value (as of the Date of Grant) of the Restricted Stock
pursuant to Section 83(b) of the Code (the “Section 83(b) Election”). If the Recipient properly makes the Section 83(b) Election, the Recipient shall provide a copy of the statement making the Section 83(b) Election
to the Company on or before the date on which the statement making the Section 83(b) Election is filed with the Internal Revenue Service and the Recipient shall make arrangements satisfactory to the Company to pay to the Company any federal,
state or local income taxes required to be withheld with respect to the Restricted Stock. If the Recipient shall fail to make such tax payments as are required, the Company shall, to the extent permitted by law, have the right to deduct from any
payment of any kind (including without limitation, the withholding of any Shares that otherwise would be issued to the Recipient under this Agreement) otherwise due to the Recipient any federal, state or local taxes of any kind required by law to be
withheld with respect to the Restricted Stock. 

  
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 (b) No Section 83(b) Election. If the Recipient does not properly make the
Section 83(b) Election, the Recipient shall, no later than the date or dates as of which the restrictions referred to in this Agreement hereof shall lapse, pay to the Company, or make arrangements satisfactory to the Committee for payment of,
any federal, state or local taxes of any kind required by law to be withheld with respect to the Restricted Stock (including without limitation the vesting thereof), and the Company shall, to the extent permitted by law, have the right to deduct
from any payment of any kind (including without limitation, the withholding of any Shares that otherwise would be distributed to the Recipient under this Agreement) otherwise due to Recipient any federal, state, or local taxes of any kind required
by law to be withheld with respect to the Restricted Stock. 
 (c) Satisfaction of Withholding Requirements. The Recipient may
satisfy the withholding requirements with respect to the Restricted Stock pursuant to any one or combination of the following methods: 

(i) payment in cash; or 
 (ii)
payment by surrendering unrestricted previously held Shares which have a value equal to the required withholding amount or the withholding of Shares that otherwise would be deliverable to the Recipient pursuant to this Award. The Recipient may
surrender Shares either by attestation or by delivery of a certificate or certificates for shares duly endorsed for transfer to the Company, and if required with medallion level signature guarantee by a member firm of a national stock exchange, by a
national or state bank (or guaranteed or notarized in such other manner as the Committee may require). 
 (d) Recipient’s
Responsibilities for Tax Consequences. Tax consequences on the Recipient (including without limitation federal, state, local and foreign income tax consequences) with respect to the Restricted Stock (including without limitation the grant,
vesting and/or forfeiture thereof) are the sole responsibility of the Recipient. The Recipient shall consult with his or her own personal accountant(s) and/or tax advisor(s) regarding these matters, the making of a Section 83(b) Election, and
the Recipient’s filing, withholding and payment (or tax liability) obligations. 
 8. Amendment, Modification &
Assignment. This Agreement may only be modified or amended in a writing signed by the parties hereto. No promises, assurances, commitments, agreements, undertakings or representations, whether oral, written, electronic
or otherwise, and whether express or implied, with respect to the subject matter hereof, have been made by either party which are not set forth expressly in this Agreement. Unless otherwise consented to in writing by the Company, in its sole
discretion, this Agreement (and Recipient’s rights hereunder) may not be assigned, and the obligations of Recipient hereunder may not be delegated, in whole or in part. The Company may assign any of its rights under this Agreement. The rights
and obligations created hereunder shall be binding on the Recipient and his heirs and legal representatives and on the successors and assigns of the Company. 

9. Complete Agreement. This Agreement (together with those agreements and documents expressly referred to herein, for the
purposes referred to herein) embody the complete and entire agreement and understanding between the parties with respect to the subject matter hereof, and 

  
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supersede any and all prior promises, assurances, commitments, agreements, undertakings or representations, whether oral, written, electronic or otherwise, and whether express or implied, which
may relate to the subject matter hereof in any way. 
  

	10.	Miscellaneous. 

 (a) No Right to (Continued) Employment or
Service. This Agreement and the grant of Restricted Stock hereunder shall not confer, or be construed to confer, upon the Recipient any right to employment or service, or continued employment or service, with the Company
or any Related Entity. 
 (b) No Limit on Other Compensation Arrangements. Nothing contained in this
Agreement shall preclude the Company or any Related Entity from adopting or continuing in effect other or additional compensation plans, agreements or arrangements, and any such plans, agreements and arrangements may be either generally applicable
or applicable only in specific cases or to specific persons. 
 (c) Severability. If any term or
provision of this Agreement is or becomes or is deemed to be invalid, illegal or unenforceable in any jurisdiction or under any applicable law, rule or regulation, then such provision shall be construed or deemed amended to conform to applicable law
(or if such provision cannot be so construed or deemed amended without materially altering the purpose or intent of this Agreement and the grant of Restricted Stock hereunder, such provision shall be stricken as to such jurisdiction and the
remainder of this Agreement and the award hereunder shall remain in full force and effect). 
 (d) No Trust or Fund
Created. Neither this Agreement nor the grant of Restricted Stock hereunder shall create or be construed to create a trust or separate fund of any kind or a fiduciary relationship between the Company or any Related
Entity and the Recipient or any other person. To the extent that the Recipient or any other person acquires a right to receive payments from the Company or any Related Entity pursuant to this Agreement, such right shall be no greater than the right
of any unsecured general creditor of the Company. 
 (e) Law Governing. This Agreement shall be governed
by and construed and enforced in accordance with the internal laws of the State of Delaware (without reference to the conflict of laws rules or principles thereof). 

(f) Interpretation. The Recipient accepts the Restricted Stock subject to all of the terms, provisions and
restrictions of this Agreement and the Plan. The undersigned Recipient hereby accepts as binding, conclusive and final all decisions or interpretations of the Board or the Committee upon any questions arising under this Agreement or the Plan. 

(g) Headings. Section, paragraph and other headings and captions are provided solely as a convenience to
facilitate reference. Such headings and captions shall not be deemed in any way material or relevant to the construction, meaning or interpretation of this Agreement or any term or provision hereof. 

  
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 (h) Notices. Any notice under this Agreement shall be in writing and shall be
deemed to have been duly given when delivered personally or when deposited in the United States mail, registered, postage prepaid, and addressed, in the case of the Company, to the Company’s Secretary at 2381 NW Executive Center Drive, Boca
Raton, Florida 33431, or if the Company should move its principal office, to such principal office, and, in the case of the Recipient, to the Recipient’s last permanent address as shown on the Company’s records, subject to the right of
either party to designate some other address at any time hereafter in a notice satisfying the requirements of this Section. 
 (i)
Non-Waiver of Breach. The waiver by any party hereto of the other party’s prompt and complete performance, or breach or violation, of any term or provision of this Agreement shall be effected solely in a writing signed by such
party, and shall not operate nor be construed as a waiver of any subsequent breach or violation, and the waiver by any party hereto to exercise any right or remedy which he or it may possess shall not operate nor be construed as the waiver of such
right or remedy by such party, or as a bar to the exercise of such right or remedy by such party, upon the occurrence of any subsequent breach or violation. 

(j) Counterparts. This Agreement may be executed in two or more separate counterparts, each of which shall be an original, and
all of which together shall constitute one and the same agreement. 

  
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 IN WITNESS WHEREOF, the parties hereto, intending to be legally bound, have executed this
Agreement as of the date first written above. 
  

			
	JARDEN CORPORATION:
		
	By:	 	 /s/ John E. Capps

	Name:	 	John E. Capps
	Title:	 	Executive Vice President – Administration, General Counsel and Secretary

 Agreed and Accepted: 
  

			
	RECIPIENT:
		
	By:	 	 /s/ James E. Lillie

		 	James E. Lillie

  
 8EX-10.1

 Exhibit 10.1 
  

			
	

	 	 Covanta Holding Corporation

445 South Street

Morristown, NJ 07960
 Tel
862 345 5000

 January 5, 2015 
 Stephen
J. Jones 
 2556 Washington Lane 
 Bethlehem, PA 18015 

Dear Steve: 
 I am pleased to offer you the position of President
and Chief Executive Officer for Covanta Holding Corporation (the “Corporation”) reporting solely and directly to our Board of Directors. Your employment by the Corporation will be effective January 5, 2015, with your appointment as
President and Chief Executive Officer to be effective following your appointment by the Board of Directors at its regularly scheduled meeting on or about March 5, 2015. By action of the Board of Directors at such meeting, you will also be
appointed as a member of the Corporation’s Board of Directors and will be nominated by the Nominating and Governance Committee for a seat on such Board of Directors each year during your employment by the Corporation. 

Your base annual compensation for this position will be $675,000, subject to annual review for increase (but not subject to decrease without your consent). In
addition you will be entitled to participate in all compensation and benefit programs applicable to other senior managers of the Corporation as approved by the compensation committee. This will include, without limitation, the annual cash bonus
program for 2015 and all other years during which you are employed by the Corporation, with bonus payments ranging from 0 to 200% of the bonus target based on specific individual and corporate performance criteria as recommended and approved by the
compensation committee. Your bonus target during the period of your employment with the Corporation will be 100% of your base annual compensation and you will be guaranteed to receive a bonus payment of at least 100% of base annual compensation with
respect to 2015. 
 You will also be eligible to participate in all equity programs approved by the compensation committee. Currently these programs
include, without limitation, the Long Term Incentive Plan (LTIP). Awards under the LTIP program as currently approved include annual grants of restricted stock that vest one third each year over three years and performance equity awards which pay up
to 200% of target based upon the Corporation’s total stockholder return (“TSR”) as measured against three peer groups, and vest based upon the Corporation’s relative performance measured over a three year period. You will receive
an initial restricted stock grant in 2015 equal to approximately $450,000 and a TSR performance award, the target payout of which will be equal to approximately $900,000, pursuant to award agreements which are no less favorable to you and no more
restrictive than the forms of award agreements attached to this letter. These awards will be granted upon your appointment as President and Chief Executive Officer at the March 5, 2015 Board of Directors meeting. Equity awards for years after
2015 will be determined at the reasonable discretion of the Corporation’s compensation committee and will be subject to the approval of the Board of Directors and the terms of the Corporation’s Equity Award Plan, including non-competition,
non-solicitation and confidentiality covenants; provided that if your target equity award amount for any year after 2015 is less than 190% of your then-current annual base compensation, and the same percentage decrease in target equity award amount
does not apply to all senior executive officers of the Company, 

 
you may resign from your employment with the Company within 180 days following the date on which you are notified of your equity award for such year and such resignation shall be treated as a
termination of your employment by the Company without cause for the purposes of any severance plan, policy, practice or agreement to which you are then subject (including, without limitation, the Severance Plan for Senior Officers or any successor
thereto). For the avoidance of doubt, for your initial grant of equity awards in 2015, withholding obligations on those equity awards you receive from the Corporation may be settled using shares of Corporation stock, including, without limitation,
shares issued or to be issued in connection with the vesting and settlement of any such award pursuant to the terms of the applicable equity award agreement. 

For purposes of Section 8(b)(i) of the Severance Plan for Senior Officers (or any successor thereto), your target bonus will be used to calculate
severance if your employment is terminated prior to January 1, 2017. 
 All equity holdings, including vested and unvested grants, are subject to the
stock ownership guidelines for senior management. The current guideline for the President and Chief Executive Officer position is to hold stock valued at four (4) times base salary with five (5) years to accomplish that level. 

At all times during your employment with the Corporation you will be (i) eligible to participate in all of Covanta Energy Corporation’s benefit
plans, programs and policies applicable to senior officers of the Corporation, which include, without limitation, various life, health and accident insurance plans and savings plan, and (ii) indemnified to the fullest extent permitted by
Delaware law and covered by any Director and Officer Liability insurance maintained by the Corporation for its senior executive officers (which, for the avoidance of doubt, shall continue to cover you after the termination of your employment with
respect to any liability with respect to your employment, subject to applicable standards of conduct under the Delaware General Corporation Law, any director and officer indemnification agreement entered into with the Corporation and/or applicable
Director and Officer Liability insurance policies, as the case may be) and the Severance Plan for Senior Officers (or any successor thereto); provided, however, that in the event of any modification, amendment or termination of the Severance Plan
for Senior Officers after the date hereof, you shall continue to be entitled to benefits thereunder no less favorable than those as in existence on the date hereof. You and the Corporation shall enter into the director and officer indemnification
agreement attached hereto on or before the date hereof. Any separation or termination agreement entered into by you and the Corporation pursuant to the Severance Plan for Senior Officers and/or otherwise shall include mutual non-disparagement
covenants and any release of claims you may enter into in connection with any such separation or termination shall be a mutual release of claims by you and the Corporation. A copy of the Severance Plan for Senior Officers in effect of the date
hereof is attached hereto as Exhibit A. Additionally, you will be eligible to accrue four weeks of vacation per year. Relocation assistance will be provided in accordance with Covanta’s standard policy; provided, however, that in lieu of
relocation, if requested the Corporation will also obtain a reasonable corporate apartment in Morristown, New Jersey for your use. 
 The Corporation will
also reimburse up to $15,000 in legal expenses incurred in connection with the review of these compensation arrangements, including, without limitation, all awards granted or benefits provided in 2015 in accordance with the terms of this letter and
the agreements and exhibits attached hereto. 

 Subject to the approval of the Nominating and Governance Committee, which approval shall not be unreasonably
withheld, you may serve on one (1) additional board of directors of a company, provided that such service does not conflict with or detract from the performance of your duties as President and Chief Executive Officer of the Corporation. 

Please acknowledge acceptance of this offer by signing below and returning one copy to my attention. I would like to take this opportunity to wish you luck in
your new position, and I am sure our relationship will be one of mutual benefit. Feel free to contact me should you have any questions. 
 Sincerely, 

/s/ Timothy J. Simpson 
 Timothy J. Simpson 

Executive Vice President and General Counsel 
 Accepted: 

/s/ Stephen J. Jones 
 Name: Stephen J. Jones 

Date: January 5, 2015 
  

	cc:	David Barse, Chair Nominating and Governance Committee 

 Peter C.B. Bynoe, Chair Compensation
Committee 
 David S. Stone, Esq.

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