Document:

Exhibit 10.5

 

SEVERANCE AGREEMENT

 

This SEVERANCE AGREEMENT (the “Agreement”) is dated as of
February 6, 2006, between Duratek, Inc., a Delaware corporation (the
“Company”), and William Bambarger (the
“Employee”).

 

WHEREAS,
the Employee has been important in developing and expanding the business and
operations of the Company and possesses valuable knowledge and skills with
respect to such business;

 

WHEREAS,
the Board of Directors of the Company (the “Board”) believes that it is in the
best interests of the Company to encourage the Employee’s continued employment
with and dedication to the Company and has authorized the Company to enter into
this Agreement;

 

WHEREAS,
the parties desire to enter into this Agreement setting forth the terms and
conditions for the payment of compensation to the Employee in the event of a
termination of the Employee’s employment due to a Change in Control (as defined
herein) during the term of this Agreement;

 

NOW,
THEREFORE, in consideration of the foregoing, the mutual
covenants and agreements of the parties contained herein and other good and
valuable consideration, the receipt of which is hereby acknowledged, the
parties hereto agree as follows:

 

Section
1.                                          Term.  The initial term of this Agreement shall be
for a period commencing on February 6, 2006 and will remain in effect until
December 31, 2007; provided, however, that, in the event of a
Change in Control Event during the initial term of this Agreement, the term of
this Agreement shall be automatically extended, if necessary, so that this
Agreement remains in full force and effect for the Change in Control Period (as
defined in Section 2) and until all payments required to be made hereunder have
been made.  This Agreement may be renewed
by written agreement of the parties.  References
herein to the term of this Agreement shall include the initial term and any
additional period for which this Agreement is extended or renewed.

 

Section
2.                                          Termination
of Employment Following a Change in Control Event.  Subject to the terms of this Agreement, the
Employee shall be entitled to receive severance payments from the Company for
services previously rendered to the Company and its affiliates if a Change in
Control Event occurs during the term of this Agreement and the Employee’s
employment is terminated by the Employee for Good Reason or by the Company
other than for Cause during the period commencing upon such Change in Control
Event (as defined in Section 11) and ending 24 months after a Change in Control
(as defined in Section 11) (the “Change in Control Period”).

 

(a)                                  Good
Reason; Other Than for Cause – Severance and Required Notice.  If a Change in Control Event occurs during
the term of this Agreement and the Company terminates the Employee’s employment
other than for Cause (as defined in Section 9) or the Employee terminates
employment for Good Reason (as defined in Section 10) during the Change in
Control Period:

 

(i)                                     the
Company shall pay to the Employee (A) the Employee’s Base Salary (as defined in
Section 8) and any accrued but unused vacation pay through the effective date
of

 

 

termination of the Employee’s employment (the “Date of
Termination”), and (B) 12  months of the Employee’s Base Salary , in each case and to
the extent not previously paid, in a lump sum in cash within ten (10) days of
the Date of Termination.  For purposes of
this Agreement, the “Severance Period” is the period beginning with the Date of
Termination and ending 12 months
thereafter.

 

(ii)                                  during
the Severance Period, or such longer period as may be provided by the terms of
the applicable plan, program, practice or policy, the Company shall continue
benefits to the Employee and/or the Employee’s family at least equal to those
which would have been provided to them in accordance with the welfare benefit
plans, practices, policies and programs provided by the Company and its
affiliated companies (excluding employee life, group life, accidental death and
travel accident insurance plans and programs) to the extent applicable
generally to other peer employees of the Company and its affiliated companies,
as if the Employee’s employment had not been terminated; provided, however,
that if the Employee becomes reemployed with another employer and is eligible
to receive medical or other welfare benefits under another employer provided
plan, the medical and other welfare benefits described herein shall be
secondary to those provided under such other plan during such applicable period
of eligibility.

 

(iii)                               Company
shall be required to give the Employee no less than 6 months
notice of a termination of the Employee’s employment with the Company (other
than for Cause) during the Change in Control Period.  To the extent the Company gives less than 6 months notice (other than in the case of a termination for
Cause), the Company shall pay the Employee his or her Base Salary for the
amount of time by which the actual notice given is less than 6 months.

 

(iv)                              Notwithstanding
the foregoing, the Company’s shall not be obligated to make payments hereunder
or under Section 3 of this Agreement unless and until the Employee has executed
and delivered to the Company the General Release, attached as Appendix A
hereto, and the time period for any right of revocation of such General Release
has expired.

 

(b)                                  Cause;
Other than for Good Reason.  If
the Employee’s employment is terminated by the Company for Cause or if the
Employee voluntarily terminates employment other than for Good Reason, in
either case during the Change in Control Period, this Agreement shall terminate
without the Company having any further obligations to the Employee, other than
the obligation to pay to the Employee: (i) the Employee’s Base Salary through
the Date of Termination and (ii) Other Benefits through the Date of
Termination, in each case to the extent theretofore unpaid, in a lump sum in
cash within ten (10) days of the Date of Termination.

 

Section 3.                                          Retention
Bonus.  Subject to the terms of
this Agreement, the Employee shall be entitled to receive a retention bonus in
the amount of ($60,000) (the “Retention Bonus”)
from the Company for services rendered to the Company and its affiliates during
the three month period following a Change in Control (the “Retention Period”),
if a Change in Control Event occurs during the term of this Agreement and the
Employee remains employed by the Company, its successor, or any affiliate of
the Company or its successor during the Retention Period; provided however that
if a Change in Control Event occurs during the term of this Agreement but the
agreement providing for the Change in Control is terminated, the Employee will
be entitled to the Retention Bonus if the Employee remains employed by the
Company, its successor, or any affiliate of the Company or its successor during
the three month period following the termination of the agreement.  The Retention Bonus shall be paid as soon as
is reasonably practical following the last day of the Retention Period or three
months after termination of the agreement providing for the Change in Control,
and is subject to reduction for applicable withholding

 

2

 

taxes.  Notwithstanding the
forgoing and Section 2(b) above, the Employee shall be eligible for the
Retention Bonus even if the Employee undergoes a termination of employment
during the Retention Period or the three month period after termination of the
agreement providing for the Change in Control, if such termination of
employment is by the Company other than for Cause or by the Employee for Good
Reason; provided, however, that for this purpose, Section 10(b) of the
definition of Good Reason shall not be applicable.

 

Section 4.                                          Confidential
Information.  The Employee shall
hold in a fiduciary capacity for the benefit of the Company all secret or
confidential information, knowledge or data relating to the Company or any of
its affiliates, and their respective businesses, which shall have been obtained
by the Employee during the Employee’s employment by the Company or any of its
affiliates and which shall not be or become public knowledge (other than by
acts by the Employee or representatives of the Employee in violation of this
Agreement).  After termination of the
Employee’s employment with the Company, the Employee shall not, without the
prior written consent of the Company or as may otherwise be required by law or
legal process, communicate or divulge any such information, knowledge or data
to anyone other than the Company and those designated by it or use any such
information, knowledge or data for any purpose.

 

Section 5.                                          Non-Solicitation.  The Employee covenants and agrees that the
Employee will not, during the Employee’s employment hereunder and for a period
of one year thereafter, induce or attempt
to induce any employee of the Company or any of the Company’s affiliates to
render services for any other person or entity.

 

Section 6.                                          Non-Competition.  The Employee covenants and agrees that the
Employee will not, during the Employee’s employment hereunder and for the
lesser of (i) a period of one year
thereafter or (ii) the Severance Period, (to the extent permitted by law), at
any time and in any state or other jurisdiction in which the Company is engaged
or, to the knowledge of Employee, has reasonably firm plans to engage in
business, (x) compete with the Company on behalf of the Employee or any
third party; or (y) participate as a director, stockholder or partner or
have any direct or indirect financial interest in any enterprise which competes
in any business in which the Company is then engaged, unless the Company has
waived the restrictions of this covenant in writing.  The ownership by the Employee of less than
five percent (5%) of the outstanding stock or equity of any company conducting
any such business shall not be deemed a violation of this Section 6.

 

Section 7.                                          Injunctive
Relief.  (a)  In the event the restrictions against
engaging in a competitive activity contained in Section 6 hereof shall be
determined by any court of competent jurisdiction to be unenforceable by reason
of their extending for too great a period of time or over too great a
geographical area or by reason of their being too extensive in any other
respect, Section 6 hereof shall be interpreted to extend only over the
maximum period of time for which it may be enforceable and over the maximum
geographical area as to which it may be enforceable and to the maximum extent
in all other respects as to which it may be enforceable, all as determined by
such court in such action.

 

(b)                                 The
Employee acknowledges and agrees that (i) the provisions of Sections 4, 5 and 6
are reasonable and necessary to protect the legitimate interests of the
Company, (ii) any violation of the provisions of Sections 4, 5 or 6 hereof will
result in irreparable injury and that damages at law would not be reasonable or
adequate compensation for a violation of the provisions of Sections 4, 5 or 6
hereof and (iii) the Company shall be entitled to have the provisions of
Sections 4, 5 and 6 hereof specifically enforced by preliminary and permanent
injunctive relief without the necessity of proving actual damages and without
posting bond or other security as well as to an equitable accounting of all
earnings, profits and other benefits arising out of any violation of Sections
4, 5 or 6 hereof, including, without limitation, estimated future earnings.

 

3

 

Section 8.                                          Definition
of “Base Salary”.  Base salary
(“Base Salary”) means the greater of (a) the annual base salary payable to the
Employee by the Company and its affiliates as of the Date of Termination or (b)
the annual base salary payable to the Employee by the Company and its
affiliates as of the date of this Agreement.

 

Section 9.                                          Definition
of “Cause”.  “Cause” shall mean
(a) the Employee’s conviction of or plea of guilty or no contest to any charge
of fraud, theft, embezzlement or any felony or other crime involving moral
turpitude; (b) the Employee’s unlawful use of controlled substances; (c) the
willful failure or refusal of Employee to perform any material obligation under
this Agreement or to carry out the reasonable directives of the President of
the Company, or the repeated willful or materially negligent failure to perform
the Employee’s duties as determined by the President of the Company in good
faith, and, in the event that the Company deems a cure practicable, the failure
of the Employee to cure the same to the satisfaction of the Company within a
period of thirty (30) days following notice thereof from the Company; (d) in
the reasonable judgment of the Board, the Employee has engaged in gross or
willful misconduct that causes or threatens to cause material harm to the
business, operations, reputation, or standing in the community of the Company
or any of its affiliates; or (e) in the reasonable judgment of the Board, the
Employee has compromised trade secrets or other proprietary information of the
Company.

 

Section 10.                                   Definition
of “Good Reason”.  “Good Reason”
shall mean (a) any material reduction in the Employee’s aggregate base salary,
fringe benefits or bonus eligibility, except in the case of base salary, fringe
benefits or bonus eligibility reduction in such compensation generally
applicable to peer employees of the Company, which shall not constitute Good
Reason; (b) a substantial, adverse change in the nature or scope of the
Employee’s responsibilities which amounts to the functional equivalent of a
demotion; or (c) the Employee is required to move his office to a location more
than 50 miles from the location where the Employee’s office is currently
located.

 

Section 11.                                   Definition
of “Change in Control” and “Change in Control Event”.

 

(a)                                  A
“Change in Control” shall mean a merger, consolidation, or reorganization of
the Company with one or more other entities in which the Company is not the
surviving entity, a sale of substantially all of the assets of the Company to
another entity, or any transaction (including, without limitation, a merger or
reorganization in which the Company is the surviving entity) that results in
any person or entity (or persons or entities acting as a group or otherwise in
concert) becoming the beneficial owner of fifty percent (50%) or more of the
combined voting power of all classes of securities of the Company or obtaining
(through stock ownership, proxies, or otherwise) the right to elect a majority
of the Board.  Notwithstanding the
forgoing, a Change in Control shall be deemed to have occurred only to the
extent such event is a “change in control event” within the meaning of Section
409A of the Internal Revenue Code and the regulations promulgated thereunder
(“Section 409A”).

 

(b)                                 A
“Change in Control Event” shall mean the earlier of (i) a Change in Control or
(ii) the execution and delivery by the Company of an agreement providing for a
Change in Control.

 

Section 12.                                   Withholding.  Notwithstanding anything in this Agreement to
the contrary, all payments required to be made by the Company hereunder to the
Employee or his estate or beneficiaries shall be subject to the withholding of
such amounts relating to taxes and other amounts as the Company reasonably may
determine it should withhold pursuant to any applicable law or regulation or
the request of the Employee.  In lieu of
withholding such amounts, in whole or in part, the Company may, in its sole
discretion, accept other provisions for the payment of taxes and any
withholdings as required by law, provided that the Company is satisfied that
all requirements of law affecting its responsibilities to withhold compensation
have been satisfied.

 

4

 

Section 13.                                   No
Duty to Mitigate.  The Employee’s
payments received hereunder shall be considered severance pay in consideration
of past service, and pay in consideration of continued service from the date
hereof and entitlement thereto shall not be governed by any duty to mitigate
damages by seeking further employment.

 

Section 14.                                   Amendments
or Additions; Action by Board of Directors.  No amendments or additions to this Agreement
shall be binding unless in writing and signed by both parties hereto.  The prior approval by the Board shall be
required in order for the Company to authorize any amendments or additions to
this Agreement.

 

Section 15.                                   Governing
Law.  This Agreement shall be
governed by the laws of the State of Delaware, excluding the choice of law
rules thereof.

 

Section 16.                                   Assignment.  The rights and obligations of the Company
under this Agreement shall be binding upon its successors and assigns and may
be assigned by the Company to the successors in interest of the Company.  The rights and obligations of the Employee
under this Agreement shall be binding upon his heirs, legatees, personal
representatives, executors or administrators. 
This Agreement may not be assigned by the Employee, but any amount owed
to the Employee upon his death shall inure to the benefit of his heirs,
legatees, personal representatives, executors, or administrators.

 

Section 17.                                   Notice.  For purposes of this Agreement, notices and
all other communications provided for in this Agreement shall be in writing and
shall be deemed to have been duly given when hand delivered, sent by overnight
courier, or mailed by first-class, registered or certified mail, return receipt
requested, postage prepaid, or transmitted by telegram, telecopy, or telex,
addressed, in the case of the Employee, to the Employee’s address as shown on
the Company’s records, and, in the case of the Company, to its principal
office, to the attention of the President, or to such other address as either
party may have furnished to the other in writing in accordance herewith, except
that notices of change of address shall be effective only upon receipt.

 

Section 18.                                   Severability.  If any part of any provision of this
Agreement shall be invalid or unenforceable under applicable law, such part
shall be ineffective to the extent of such invalidity or unenforceability only,
without in any way affecting the remaining parts of such provision or the
remaining provisions of this Agreement.

 

Section 19.                                   Section
409A.  Notwithstanding anything
in this Agreement to the contrary, if any amount payable to the Employee under
this Agreement is deferred compensation subject to Section 409A and if the
Employee is a “specified employee” within the meaning of Section 409A, payment
of such amount shall be made as follows: 
Any amount that is scheduled to be paid for the period which begins on
the Employee’s separation from service, as defined in Section 409A, and ends on
the date six months from the Employee’s separation from service, shall not be
paid as scheduled, but shall be accumulated and paid in a lump sum on the date
six months after the Employee’s separation from service.

 

[Signatures
Appear on Following Page]

 

5

 

IN WITNESS WHEREOF,
the parties have executed and delivered this Agreement, or have caused this
Agreement to be executed and delivered, to be effective as of February 6, 2006.

 

	
   

  	
  DURATEK, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
  Date: February 6, 2006

  	
  By: 

  	
  /s/ Robert E. Prince

  	
   

  
	
   

  	
  Name:

  	
  Robert E. Prince

  
	
   

  	
  Title:

  	
  President/CEO

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  EMPLOYEE

  
	
   

  	
   

  
	
   

  	
   

  
	
  Date:February 6, 2006

  	
  /s/ William Bambarger

  	
   

  
	
   

  	
  Name: William Bambarger

  
						

 

6

 

APPENDIX
A

 

GENERAL RELEASE

 

This GENERAL
RELEASE (hereinafter, this “General Release”) is made and entered into this         day
of                   ,
by and between                          ,
residing at                                ,
(the “Employee”), and Duratek, Inc., a Delaware corporation, headquartered in
Columbia, Maryland (the “Company”).

 

1.                                       The Employee acknowledges the receipt and
sufficiency of adequate consideration in support of this General Release, in
the form of the mutual covenants and agreements of the parties contained in the
Severance Agreement, dated February    , 2006, and other good
and valuable consideration.

 

2.                                       The Employee, on his behalf and on behalf
of his heirs, successors, agents, executors, administrators, attorneys and
assigns, hereby releases and forever discharges the Company and any and all of
its current or former affiliated entities, benefit plans, departments, stockholders,
officers, directors, employees, representatives, agents, attorneys, successors
and assigns (hereinafter referred to as the “Released Parties”), to the fullest
extent provided by law, from any and all charges, complaints, claims,
liabilities, obligations, promises, agreements, controversies, damages,
actions, causes of action, suits, rights, demands, costs, losses, debts and
expenses (including attorneys’ fees and costs actually incurred), of any nature
whatsoever, known or unknown, suspected or unsuspected, which he now has, owns,
or holds, or claims to have, own, or hold, which he at any time heretofore had,
owned, or held, or claimed to have had, owned, or held, and which he at any
time in the future may have, own, or hold, against any one or more of the
Released Parties for any reason whatsoever in law or in equity, under federal,
state or local law, including without limitation (i) any and all claims arising
from or relating to the Employee’s employment with the Company or the
termination thereof other than fulfillment of the Company’s obligations under
the Severance Agreement, dated February     , 2006, by and
between the Employee and the Company (the “Severance Agreement”), and (ii) any
and all claims relating to or arising under any employment contract, any
employment statute or regulation, any employment discrimination law, including
but not limited to Title VII of the Civil Rights Act of 1964, as amended,
the Americans with Disabilities Act of 1990, as amended, the Equal Pay Act of
1963, the Age Discrimination in Employment Act, and any other federal, state,
or local civil rights, pension or labor law, contract law, tort law, or common
law.  The Employee warrants that this is
a general release and that he has not assigned or transferred any claims covered
hereby.

 

3.                                       Except for claims arising from or related
the Company’s performance of its obligations under the Severance Agreement,
without limiting the generality of the general release in Section 1 of this
General Release, the Employee, on his behalf and on behalf of his heirs, legal
representatives and assigns, further agrees not to sue or otherwise institute
or cause to be instituted, or solicit, encourage, or cause any other individual
or entity to sue or otherwise institute or cause to be instituted, except as
required by order of a court or of any agency of the federal, state, or local
government, the prosecution of any claim, complaint, or charge seeking damages
against any of the Released Parties in any federal, state, local or other
court, administrative agency, commission, or other forum concerning any claims
released herein, and the Employee irrevocably and unconditionally waives any
and all rights to recover any relief or damages concerning claims released
herein.  The Employee specifically
represents that no complaints, charges, or other proceedings are pending in any
court, administrative agency, or other forum relating directly or indirectly to
any claims released herein.

 

 

4.                                       The Employee acknowledges and agrees that
he is aware of no fraudulent, unlawful, discriminatory, or harassing conduct on
the part of himself or any past or present officer, director, employee,
representative, agent, or assign of the Company.  The Employee further represents
and agrees that he is aware of no conduct on the part of himself or any past or
present officer, director, employee, representative, agent, or assign of the
Company that constitutes a breach of fiduciary or other legal duty to the
Company.

 

5.                                       The Employee acknowledges
that he has read and understands this General Release and executes it
knowingly, voluntarily and without coercion. 
The Employee further acknowledges that he is being advised herein in
writing to consult with an attorney prior to executing this General Release,
and that he has been given a period of at least forty-five days within which to
consider and execute this General Release, unless he voluntarily chooses to
execute this General Release before the end of the forty-five day period, in
which case he will complete a form titled, “Election to Execute Prior to
Expiration of Forty-Five Day Consideration Period.”  The Employee understands that he has seven
days following his execution of this General Release to revoke it.  For such revocation to be effective, written
notice of revocation must be delivered directly to the Company at 10100 Old
Columbia Road, Columbia, Maryland 21046, Attention: Corporate Secretary, no later than 5:00 p.m. on the seventh calendar day after
the Employee signs this General Release. 
If the Employee revokes this Agreement, it shall not be effective or
enforceable and he shall not receive the benefits described herein.  No payments shall be made under the terms of
this General Release until the seven day revocation period described in this
Section 5 has expired without revocation by the Employee.

 

6.                                       This General
Release shall be governed by and construed under Delaware law, exclusive of any
choice of law rules.

 

7.                                       This General
Release shall be binding upon each Party’s respective heirs, beneficiaries, and
successors and assigns.

 

IN WITNESS THEREOF, the Employee and the Company, after carefully reading
the provisions of this General Release herein declare that they understand such
provisions and willingly accept and agree thereto by executing this General
Release as of the date set forth above.

 

	
  Employee

  	
  Duratek, Inc.

  
	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   

  
	
   

  	
   

  
	
   

  	
  Title:

  	
   

  
					

 

2

 

ELECTION
TO EXECUTE PRIOR TO EXPIRATION

OF
FORTY-FIVE DAY CONSIDERATION PERIOD

 

I,                            ,
understand that I have at least forty-five days within which to consider and
execute the foregoing General Release. 
However, after having an opportunity to consult counsel I have freely
and voluntarily elected to execute the General Release before the forty-five
day period has expired.

 

	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  Date

  

 

3Exhibit 10.6

 

SEVERANCE AGREEMENT

 

This SEVERANCE AGREEMENT (the “Agreement”) is dated as of
February 6, 2006, between Duratek, Inc., a Delaware corporation (the
“Company”), and Craig Bartlett (the “Employee”).

 

WHEREAS,
the Employee has been important in developing and expanding the business and
operations of the Company and possesses valuable knowledge and skills with
respect to such business;

 

WHEREAS,
the Board of Directors of the Company (the “Board”) believes that it is in the
best interests of the Company to encourage the Employee’s continued employment
with and dedication to the Company and has authorized the Company to enter into
this Agreement;

 

WHEREAS,
the parties desire to enter into this Agreement setting forth the terms and
conditions for the payment of compensation to the Employee in the event of a
termination of the Employee’s employment due to a Change in Control (as defined
herein) during the term of this Agreement;

 

NOW,
THEREFORE, in consideration of the foregoing, the mutual
covenants and agreements of the parties contained herein and other good and
valuable consideration, the receipt of which is hereby acknowledged, the
parties hereto agree as follows:

 

Section
1.                                          Term.  The initial term of this Agreement shall be
for a period commencing on February 6, 2006 and will remain in effect until
December 31, 2006; provided, however, that, in the event of a
Change in Control Event during the initial term of this Agreement, the term of
this Agreement shall be automatically extended, if necessary, so that this
Agreement remains in full force and effect for the Change in Control Period (as
defined in Section 2) and until all payments required to be made hereunder have
been made.  This Agreement may be renewed
by written agreement of the parties.  References
herein to the term of this Agreement shall include the initial term and any
additional period for which this Agreement is extended or renewed.

 

Section
2.                                          Termination
of Employment Following a Change in Control Event.  Subject to the terms of this Agreement, the
Employee shall be entitled to receive severance payments from the Company for
services previously rendered to the Company and its affiliates if a Change in
Control Event occurs during the term of this Agreement and the Employee’s
employment is terminated by the Employee for Good Reason or by the Company
other than for Cause during the period commencing upon such Change in Control
Event (as defined in Section 11) and ending 12 months after a Change in Control
(as defined in Section 11) (the “Change in Control Period”).

 

(a)                                  Good
Reason; Other Than for Cause – Severance and Required Notice.  If a Change in Control Event occurs during
the term of this Agreement and the Company terminates the Employee’s employment
other than for Cause (as defined in Section 9) or the Employee terminates
employment for Good Reason (as defined in Section 10) during the Change in
Control Period:

(i)                                     the
Company shall pay to the Employee (A) the Employee’s Base Salary (as defined in
Section 8) and any accrued but unused vacation pay through the effective date
of termination of the Employee’s employment (the “Date of Termination”), and
(B) 12  months of

 

 

the Employee’s Base Salary , in each case and to the
extent not previously paid, in a lump sum in cash within ten (10) days of the
Date of Termination.  For purposes of
this Agreement, the “Severance Period” is the period beginning with the Date of
Termination and ending 12 months
thereafter.

 

(ii)                                  during
the Severance Period, or such longer period as may be provided by the terms of
the applicable plan, program, practice or policy, the Company shall continue
benefits to the Employee and/or the Employee’s family at least equal to those
which would have been provided to them in accordance with the welfare benefit
plans, practices, policies and programs provided by the Company and its
affiliated companies (excluding employee life, group life, accidental death and
travel accident insurance plans and programs) to the extent applicable
generally to other peer employees of the Company and its affiliated companies,
as if the Employee’s employment had not been terminated; provided, however,
that if the Employee becomes reemployed with another employer and is eligible
to receive medical or other welfare benefits under another employer provided
plan, the medical and other welfare benefits described herein shall be
secondary to those provided under such other plan during such applicable period
of eligibility.

 

(iii)                               the
Company shall be required to give the Employee no less than 6 months notice of a termination of the Employee’s
employment with the Company (other than for Cause) during the Change in Control
Period.  To the extent the Company gives
less than 6 months notice (other than in the case
of a termination for Cause), the Company shall pay the Employee his or her Base
Salary for the amount of time by which the actual notice given is less than 6 months.

 

(iv)                              Notwithstanding
the foregoing, the Company’s shall not be obligated to make payments hereunder
or under Section 3 of this Agreement unless and until the Employee has executed
and delivered to the Company the General Release, attached as Appendix A
hereto, and the time period for any right of revocation of such General Release
has expired.

 

(b)                                  Cause;
Other than for Good Reason.  If
the Employee’s employment is terminated by the Company for Cause or if the
Employee voluntarily terminates employment other than for Good Reason, in
either case during the Change in Control Period, this Agreement shall terminate
without the Company having any further obligations to the Employee, other than
the obligation to pay to the Employee: (i) the Employee’s Base Salary through
the Date of Termination and (ii) Other Benefits through the Date of
Termination, in each case to the extent theretofore unpaid, in a lump sum in
cash within ten (10) days of the Date of Termination.

 

Section 3.                                          Retention
Bonus.  Subject to the terms of
this Agreement, the Employee shall be entitled to receive a retention bonus in
the amount of ($60,000) (the “Retention Bonus”)
from the Company for services rendered to the Company and its affiliates during
the three month period following a Change in Control (the “Retention Period”),
if a Change in Control Event occurs during the term of this Agreement and the
Employee remains employed by the Company, its successor, or any affiliate of
the Company or its successor during the Retention Period; provided however that
if a Change in Control Event occurs during the term of this Agreement but the
agreement providing for the Change in Control is terminated, the Employee will
be entitled to the Retention Bonus if the Employee remains employed by the
Company, its successor, or any affiliate of the Company or its successor during
the three month period following the termination of the agreement.  The Retention Bonus shall be paid as soon as
is reasonably practical following the last day of the Retention Period or three
months after termination of the agreement providing for the Change in Control,
and is subject to reduction for applicable withholding

 

2

 

taxes.  Notwithstanding the
forgoing and Section 2(b) above, the Employee shall be eligible for the
Retention Bonus even if the Employee undergoes a termination of employment
during the Retention Period or the three month period after termination of the
agreement providing for the Change in Control, if such termination of
employment is by the Company other than for Cause or by the Employee for Good
Reason; provided, however, that for this purpose, Section 10(b) of the
definition of Good Reason shall not be applicable.

Section 4.                                          Confidential
Information.  The Employee shall
hold in a fiduciary capacity for the benefit of the Company all secret or
confidential information, knowledge or data relating to the Company or any of
its affiliates, and their respective businesses, which shall have been obtained
by the Employee during the Employee’s employment by the Company or any of its
affiliates and which shall not be or become public knowledge (other than by
acts by the Employee or representatives of the Employee in violation of this
Agreement).  After termination of the
Employee’s employment with the Company, the Employee shall not, without the
prior written consent of the Company or as may otherwise be required by law or
legal process, communicate or divulge any such information, knowledge or data
to anyone other than the Company and those designated by it or use any such
information, knowledge or data for any purpose.

 

Section 5.                                          Non-Solicitation.  The Employee covenants and agrees that the
Employee will not, during the Employee’s employment hereunder and for a period
of one year thereafter, induce or attempt
to induce any employee of the Company or any of the Company’s affiliates to
render services for any other person or entity.

 

Section 6.                                          Non-Competition.  The Employee covenants and agrees that the
Employee will not, during the Employee’s employment hereunder and for the
lesser of (i) a period of one year
thereafter or (ii) the Severance Period, (to the extent permitted by law), at
any time and in any state or other jurisdiction in which the Company is engaged
or, to the knowledge of Employee, has reasonably firm plans to engage in
business, (x) compete with the Company on behalf of the Employee or any
third party; or (y) participate as a director, stockholder or partner or
have any direct or indirect financial interest in any enterprise which competes
in any business in which the Company is then engaged, unless the Company has
waived the restrictions of this covenant in writing.  The ownership by the Employee of less than
five percent (5%) of the outstanding stock or equity of any company conducting
any such business shall not be deemed a violation of this Section 6.

 

Section 7.                                          Injunctive
Relief.  (a)  In the event the restrictions against
engaging in a competitive activity contained in Section 6 hereof shall be
determined by any court of competent jurisdiction to be unenforceable by reason
of their extending for too great a period of time or over too great a
geographical area or by reason of their being too extensive in any other
respect, Section 6 hereof shall be interpreted to extend only over the
maximum period of time for which it may be enforceable and over the maximum
geographical area as to which it may be enforceable and to the maximum extent
in all other respects as to which it may be enforceable, all as determined by
such court in such action.

 

(b)                                 The
Employee acknowledges and agrees that (i) the provisions of Sections 4, 5 and 6
are reasonable and necessary to protect the legitimate interests of the
Company, (ii) any violation of the provisions of Sections 4, 5 or 6 hereof will
result in irreparable injury and that damages at law would not be reasonable or
adequate compensation for a violation of the provisions of Sections 4, 5 or 6
hereof and (iii) the Company shall be entitled to have the provisions of
Sections 4, 5 and 6 hereof specifically enforced by preliminary and permanent
injunctive relief without the necessity of proving actual damages and without
posting bond or other security as well as to an equitable accounting of all

 

3

 

earnings, profits and other benefits arising out of any violation of
Sections 4, 5 or 6 hereof, including, without limitation, estimated future
earnings.

 

Section 8.                                          Definition
of “Base Salary”.  Base salary
(“Base Salary”) means the greater of (a) the annual base salary payable to the
Employee by the Company and its affiliates as of the Date of Termination or (b)
the annual base salary payable to the Employee by the Company and its
affiliates as of the date of this Agreement.

 

Section 9.                                          Definition
of “Cause”.  “Cause” shall mean
(a) the Employee’s conviction of or plea of guilty or no contest to any charge
of fraud, theft, embezzlement or any felony or other crime involving moral
turpitude; (b) the Employee’s unlawful use of controlled substances; (c) the
willful failure or refusal of Employee to perform any material obligation under
this Agreement or to carry out the reasonable directives of the President of
the Company, or the repeated willful or materially negligent failure to perform
the Employee’s duties as determined by the President of the Company in good
faith, and, in the event that the Company deems a cure practicable, the failure
of the Employee to cure the same to the satisfaction of the Company within a
period of thirty (30) days following notice thereof from the Company; (d) in
the reasonable judgment of the Board, the Employee has engaged in gross or
willful misconduct that causes or threatens to cause material harm to the
business, operations, reputation, or standing in the community of the Company
or any of its affiliates; or (e) in the reasonable judgment of the Board, the
Employee has compromised trade secrets or other proprietary information of the
Company.

 

Section 10.                                   Definition
of “Good Reason”.  “Good Reason”
shall mean (a) any material reduction in the Employee’s aggregate base salary,
fringe benefits or bonus eligibility, except in the case of base salary, fringe
benefits or bonus eligibility reduction in such compensation generally
applicable to peer employees of the Company, which shall not constitute Good
Reason; (b) a substantial, adverse change in the nature or scope of the
Employee’s responsibilities which amounts to the functional equivalent of a
demotion; or (c) the Employee is required to move his office to a location more
than 50 miles from the location where the Employee’s office is currently
located.

 

Section 11.                                   Definition
of “Change in Control” and “Change in Control Event”.

 

(a)                                  A
“Change in Control” shall mean a merger, consolidation, or reorganization of
the Company with one or more other entities in which the Company is not the
surviving entity, a sale of substantially all of the assets of the Company to
another entity, or any transaction (including, without limitation, a merger or
reorganization in which the Company is the surviving entity) that results in
any person or entity (or persons or entities acting as a group or otherwise in
concert) becoming the beneficial owner of fifty percent (50%) or more of the
combined voting power of all classes of securities of the Company or obtaining
(through stock ownership, proxies, or otherwise) the right to elect a majority
of the Board.  Notwithstanding the
forgoing, a Change in Control shall be deemed to have occurred only to the
extent such event is a “change in control event” within the meaning of Section
409A of the Internal Revenue Code and the regulations promulgated thereunder (“Section
409A”).

 

(b)                                 A
“Change in Control Event” shall mean the earlier of (i) a Change in Control or
(ii) the execution and delivery by the Company of an agreement providing for a
Change in Control.

 

Section 12.                                   Withholding.  Notwithstanding anything in this Agreement to
the contrary, all payments required to be made by the Company hereunder to the
Employee or his estate or beneficiaries shall be subject to the withholding of
such amounts relating to taxes and other amounts as the Company reasonably may determine
it should withhold pursuant to any applicable law or regulation

 

4

 

or the request of the Employee. 
In lieu of withholding such amounts, in whole or in part, the Company
may, in its sole discretion, accept other provisions for the payment of taxes
and any withholdings as required by law, provided that the Company is satisfied
that all requirements of law affecting its responsibilities to withhold
compensation have been satisfied.

 

Section 13.                                   No
Duty to Mitigate.  The Employee’s
payments received hereunder shall be considered severance pay in consideration
of past service, and pay in consideration of continued service from the date
hereof and entitlement thereto shall not be governed by any duty to mitigate
damages by seeking further employment.

 

Section 14.                                   Amendments
or Additions; Action by Board of Directors.  No amendments or additions to this Agreement
shall be binding unless in writing and signed by both parties hereto.  The prior approval by the Board shall be
required in order for the Company to authorize any amendments or additions to
this Agreement.

 

Section 15.                                   Governing
Law.  This Agreement shall be
governed by the laws of the State of Delaware, excluding the choice of law
rules thereof.

 

Section 16.                                   Assignment.  The rights and obligations of the Company
under this Agreement shall be binding upon its successors and assigns and may
be assigned by the Company to the successors in interest of the Company.  The rights and obligations of the Employee
under this Agreement shall be binding upon his heirs, legatees, personal
representatives, executors or administrators. 
This Agreement may not be assigned by the Employee, but any amount owed
to the Employee upon his death shall inure to the benefit of his heirs,
legatees, personal representatives, executors, or administrators.

 

Section 17.                                   Notice.  For purposes of this Agreement, notices and
all other communications provided for in this Agreement shall be in writing and
shall be deemed to have been duly given when hand delivered, sent by overnight
courier, or mailed by first-class, registered or certified mail, return receipt
requested, postage prepaid, or transmitted by telegram, telecopy, or telex,
addressed, in the case of the Employee, to the Employee’s address as shown on
the Company’s records, and, in the case of the Company, to its principal
office, to the attention of the President, or to such other address as either
party may have furnished to the other in writing in accordance herewith, except
that notices of change of address shall be effective only upon receipt.

 

Section 18.                                   Severability.  If any part of any provision of this
Agreement shall be invalid or unenforceable under applicable law, such part
shall be ineffective to the extent of such invalidity or unenforceability only,
without in any way affecting the remaining parts of such provision or the
remaining provisions of this Agreement.

 

Section 19.                                   Section
409A.  Notwithstanding anything
in this Agreement to the contrary, if any amount payable to the Employee under
this Agreement is deferred compensation subject to Section 409A and if the
Employee is a “specified employee” within the meaning of Section 409A, payment
of such amount shall be made as follows: 
Any amount that is scheduled to be paid for the period which begins on
the Employee’s separation from service, as defined in Section 409A, and ends on
the date six months from the Employee’s separation from service, shall not be
paid as scheduled, but shall be accumulated and paid in a lump sum on the date
six months after the Employee’s separation from service.

 

[Signatures
Appear on Following Page]

 

5

 

IN
WITNESS WHEREOF, the parties have executed and delivered this
Agreement, or have caused this Agreement to be executed and delivered, to be
effective as of February 6, 2006.

 

	
   

  	
  DURATEK, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
  Date:  February 6, 2006

  	
  By: 

  	
  /s/ Robert E. Prince

  	
   

  
	
   

  	
  Name:

  	
  Robert
  E. Prince

  
	
   

  	
  Title:

  	
  President/CEO

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  EMPLOYEE

  
	
   

  	
   

  
	
   

  	
   

  
	
  Date:  February 6, 2006

  	
  /s/ Craig Bartlett

  	
   

  
	
   

  	
  Name: Craig Bartlett

  
						

 

6

 

APPENDIX
A

 

GENERAL RELEASE

 

This GENERAL
RELEASE (hereinafter, this “General Release”) is made and entered into this             day
of                        ,
by and between                          ,
residing at                                      ,
(the “Employee”), and Duratek, Inc., a Delaware corporation, headquartered in
Columbia, Maryland (the “Company”).

 

1.                                       The Employee acknowledges the receipt and
sufficiency of adequate consideration in support of this General Release, in
the form of the mutual covenants and agreements of the parties contained in the
Severance Agreement, dated February   , 2006, and other good and
valuable consideration.

 

2.                                       The Employee, on his behalf and on behalf
of his heirs, successors, agents, executors, administrators, attorneys and
assigns, hereby releases and forever discharges the Company and any and all of
its current or former affiliated entities, benefit plans, departments,
stockholders, officers, directors, employees, representatives, agents,
attorneys, successors and assigns (hereinafter referred to as the “Released
Parties”), to the fullest extent provided by law, from any and all charges,
complaints, claims, liabilities, obligations, promises, agreements,
controversies, damages, actions, causes of action, suits, rights, demands,
costs, losses, debts and expenses (including attorneys’ fees and costs actually
incurred), of any nature whatsoever, known or unknown, suspected or
unsuspected, which he now has, owns, or holds, or claims to have, own, or hold,
which he at any time heretofore had, owned, or held, or claimed to have had,
owned, or held, and which he at any time in the future may have, own, or hold,
against any one or more of the Released Parties for any reason whatsoever in
law or in equity, under federal, state or local law, including without
limitation (i) any and all claims arising from or relating to the Employee’s
employment with the Company or the termination thereof other than fulfillment
of the Company’s obligations under the Severance Agreement, dated February   ,
2006, by and between the Employee and the Company (the “Severance Agreement”),
and (ii) any and all claims relating to or arising under any employment
contract, any employment statute or regulation, any employment discrimination
law, including but not limited to Title VII of the Civil Rights Act of
1964, as amended, the Americans with Disabilities Act of 1990, as amended, the
Equal Pay Act of 1963, the Age Discrimination in Employment Act, and any other
federal, state, or local civil rights, pension or labor law, contract law, tort
law, or common law.  The Employee
warrants that this is a general release and that he has not assigned or
transferred any claims covered hereby.

 

3.                                       Except for claims arising from or related
the Company’s performance of its obligations under the Severance Agreement,
without limiting the generality of the general release in Section 1 of this
General Release, the Employee, on his behalf and on behalf of his heirs, legal
representatives and assigns, further agrees not to sue or otherwise institute
or cause to be instituted, or solicit, encourage, or cause any other individual
or entity to sue or otherwise institute or cause to be instituted, except as
required by order of a court or of any agency of the federal, state, or local
government, the prosecution of any claim, complaint, or charge seeking damages
against any of the Released Parties in any federal, state, local or other
court, administrative agency, commission, or other forum concerning any claims
released herein, and the Employee irrevocably and unconditionally waives any
and all rights to recover any relief or damages concerning claims released
herein.  The Employee specifically
represents that no complaints, charges, or other proceedings are pending in any
court, administrative agency, or other forum relating directly or indirectly to
any claims released herein.

 

 

4.                                       The Employee acknowledges and agrees that
he is aware of no fraudulent, unlawful, discriminatory, or harassing conduct on
the part of himself or any past or present officer, director, employee,
representative, agent, or assign of the Company.  The Employee further represents
and agrees that he is aware of no conduct on the part of himself or any past or
present officer, director, employee, representative, agent, or assign of the
Company that constitutes a breach of fiduciary or other legal duty to the
Company.

 

5.                                       The Employee acknowledges
that he has read and understands this General Release and executes it
knowingly, voluntarily and without coercion. 
The Employee further acknowledges that he is being advised herein in
writing to consult with an attorney prior to executing this General Release,
and that he has been given a period of at least forty-five days within which to
consider and execute this General Release, unless he voluntarily chooses to
execute this General Release before the end of the forty-five day period, in
which case he will complete a form titled, “Election to Execute Prior to
Expiration of Forty-Five Day Consideration Period.”  The Employee understands that he has seven
days following his execution of this General Release to revoke it.  For such revocation to be effective, written
notice of revocation must be delivered directly to the Company at 10100 Old
Columbia Road, Columbia, Maryland 21046, Attention: Corporate Secretary, no later than 5:00 p.m. on the seventh calendar day after
the Employee signs this General Release. 
If the Employee revokes this Agreement, it shall not be effective or
enforceable and he shall not receive the benefits described herein.  No payments shall be made under the terms of
this General Release until the seven day revocation period described in this
Section 5 has expired without revocation by the Employee.

 

6.                                       This General
Release shall be governed by and construed under Delaware law, exclusive of any
choice of law rules.

 

7.                                       This General
Release shall be binding upon each Party’s respective heirs, beneficiaries, and
successors and assigns.

 

IN WITNESS THEREOF, the Employee and the Company, after carefully reading
the provisions of this General Release herein declare that they understand such
provisions and willingly accept and agree thereto by executing this General
Release as of the date set forth above.

 

	
  Employee

  	
  Duratek, Inc.

  
	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   

  
	
   

  	
   

  
	
   

  	
  Title:

  	
   

  
					

 

2

 

ELECTION
TO EXECUTE PRIOR TO EXPIRATION

OF
FORTY-FIVE DAY CONSIDERATION PERIOD

 

I,                                     ,
understand that I have at least forty-five days within which to consider and
execute the foregoing General Release. 
However, after having an opportunity to consult counsel I have freely
and voluntarily elected to execute the General Release before the forty-five
day period has expired.

 

	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  Date

  

 

3

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