Document:

Exhibit 10.9

 

NRC GROUP HOLDINGS CORP.

2018 EQUITY AND INCENTIVE COMPENSATION PLAN

 

1. Purpose. The
purpose of this Plan is to attract and retain non-employee Directors, officers and other employees of the Company and its Subsidiaries,
and certain other service providers to the Company and its Subsidiaries, and to provide to such persons incentives and rewards
for service and/or performance.

 

2. Definitions.
As used in this Plan:

 

(a) “Appreciation
Right” means a right granted pursuant to Section 5 of this Plan.

 

(b) “Base Price”
means the price to be used as the basis for determining the Spread upon the exercise of an Appreciation Right.

 

(c) “Board”
means the Board of Directors of the Company.

 

(d) “Cash Incentive
Award” means a cash award granted pursuant to Section 8 of this Plan.

 

(e) “Cause”
means, unless otherwise defined in the applicable Evidence of Award or the Participant’s employment agreement, (i) the indictment
(or other criminal charge against the Participant) for a felony or any crime involving moral turpitude, or the Participant’s
commission of fraud, breach of fiduciary duty, theft, embezzlement or crime against the Company or any of its Subsidiaries or affiliates
or any of their customers, (ii) conduct by the Participant that brings the Company or any of its Subsidiaries or affiliates into
public disgrace or disrepute, (iii) the Participant’s gross negligence or willful misconduct with respect to the Company
or any of its Subsidiaries or affiliates or in the performance of Participant’s duties and services required for Participant’s
position with the Company or any of its subsidiaries or affiliates, which, if curable, is not cured within ten days after written
notice thereof to Participant, (iv) the Participant’s insubordination to, or failure to follow, the lawful directions of
the person to whom such person directly reports, which, if curable, is not cured within ten days after written notice thereof to
the Participant, (v) the Participant’s material violation of any restrictive covenant agreement with the Company or any of
its Subsidiaries or affiliates, (vi) the Participant’s breach of any material agreement with the Company or any of its Subsidiaries
or affiliates or any material employment policy of the Company or any of its Subsidiaries or affiliates which, if curable, is not
cured within ten days after written notice thereof to the Participant (including, without limitation, the Company’s code
of ethics and insider trading policy), or (vii) the abuse of any controlled substance or of alcohol or any other non-controlled
substance which the Company determines renders the Participant unfit to serve in the Participant’s capacity as an employee
or service provider of the Company or any of its Subsidiaries or affiliates.

 

(f) “Change
in Control” has the meaning set forth in Section 12 of this Plan.

 

(g) “Code”
means the Internal Revenue Code of 1986, as amended from time to time.

 

    

     

    

 

(h) “Committee”
means the Compensation Committee of the Board (or its successor(s)), or any other committee of the Board designated by the Board
to administer this Plan pursuant to Section 10 of this Plan, and to the extent of any delegation by the Committee to a subcommittee
pursuant to Section 10 of this Plan, such subcommittee, in each case, consisting of two or more members of the Board, each
of whom is intended to be (i) a “Non-Employee Director” within the meaning of Rule 16b-3 under the Exchange Act and
(ii) “independent” within the meaning of the rules of the NYSE or, if the Common Stock is not listed on the NYSE, within
the meaning of the rules of the principal stock exchange on which the Common Stock is then traded.

 

(i) “Common
Stock” means the common stock, par value $0.01 per share, of the Company or any security into which such common stock
may be changed by reason of any transaction or event of the type referred to in Section 11 of this Plan.

 

(j) “Company”
means NRC Group Holdings Corp., a Delaware corporation, and its successors.

 

(k) “Date of
Grant” means the date provided for by the Committee on which a grant of Option Rights, Appreciation Rights, Performance
Shares, Performance Units, Cash Incentive Awards, or other awards contemplated by Section 9 of this Plan, or a grant or
sale of Restricted Stock, Restricted Stock Units, or other awards contemplated by Section 9 of this Plan, will become effective
(which date will not be earlier than the date on which the Committee takes action with respect thereto).

 

(l) “Director”
means a member of the Board.

 

(m) “Disability”
means, unless otherwise defined in the applicable Evidence of Award or the Participant’s employment agreement, (i) the Participant
is unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment that
can be expected to result in death or can be expected to last for a continuous period of not less than 12 months, or (ii) the Participant
is, by reason of any medically determinable physical or mental impairment that can be expected to result in death or can be expected
to last for a continuous period of not less than 12 months, receiving income replacement benefits for a period of not less than
three months under an accident and health plan covering employees of the Company or, if applicable, any Subsidiary.

 

(n) “Effective
Date” means the date this Plan is approved by the Stockholders.

 

(o) “Evidence
of Award” means an agreement, certificate, resolution or other type or form of writing or other evidence approved by
the Committee that sets forth the terms and conditions of the awards granted under this Plan. An Evidence of Award may be in an
electronic medium, may be limited to notation on the books and records of the Company and, unless otherwise determined by the Committee,
need not be signed by a representative of the Company or a Participant.

 

(p) “Exchange
Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations thereunder, as such law, rules
and regulations may be amended from time to time.

 

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(q) “Incentive
Stock Option” means an Option Right that is intended to qualify as an “incentive stock option” under Section
422 of the Code or any successor provision.

 

(r) “Management
Objectives” means the performance objective or objectives established pursuant to this Plan, which shall be satisfied
or met (i) as a condition to the grant or exercisability of all or a portion of an award or (ii) as a condition to the vesting
of the holder’s interest in the shares of Common Stock subject to an award or of payment with respect to an award, which
objectives shall include, but not be limited to, the following performance objectives measured on a Company, Subsidiary, business,
operating unit or individual basis: cash flow; free cash flow; operating cash flow; earnings; market share; economic value added;
achievement of annual operating budget; profits; profit contribution margins; profits before taxes; profits after taxes; operating
profit; return on assets; return on investment; return on equity; return on invested capital; gross sales; net sales; sales volume;
stock price; total stockholder return; dividend ratio; price-to-earnings ratio; expense targets; operating efficiency; customer
satisfaction metrics; working capital targets; the achievement of certain target levels of innovation and/or development of products;
measures related to acquisitions or divestitures or the formation or dissolution of joint ventures; corporate bond rating by credit
agencies; debt to equity or leverage ratios; or other performance measures determined by the Committee. If the Committee determines
that a change in the business, operations, corporate structure or capital structure of the Company, or the manner in which it conducts
its business, or other events or circumstances render the Management Objectives unsuitable, the Committee may in its discretion
modify such Management Objectives or the acceptable levels of achievement, in whole or in part, as the Committee deems appropriate
and equitable.

 

(s) “Market
Value per Share” shall be based on
the opening, closing, actual, high, low, or average selling prices of a Share reported on the NYSE or such other established
stock exchange on which the Shares are principally traded on the applicable date, the preceding trading day, the next succeeding
trading day, or an average of trading days, as determined by the Committee in its discretion. Unless the Committee determines otherwise,
Fair Market Value shall be deemed to be equal to the reported closing price of a Share on the date as of which such value
is being determined or, if there shall be no reported transactions for such date, on the preceding date for which transactions
were reported; provided, however, that if the Shares are not publicly traded at the time a determination of their value is
required to be made hereunder, the determination of their Fair Market Value shall be made by the Committee in such manner as it
deems appropriate and in accordance with Section 409A of the Code.

 

(t) “NYSE”
means the New York Stock Exchange.

 

(u) “Optionee”
means the optionee named in an Evidence of Award evidencing an outstanding Option Right.

 

(v) “Option
Price” means the purchase price payable on exercise of an Option Right.

 

(w) “Option
Right” means the right to purchase shares of Common Stock upon exercise of an award granted pursuant to Section 4
of this Plan.

 

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(x) “Participant”
means a person who is selected by the Committee to receive benefits under this Plan and who is at the time (i) a non-employee Director,
(ii) an officer or other employee of the Company or any Subsidiary, including a person who has agreed to commence serving in such
capacity within 90 days of the Date of Grant, or (iii) a service provider, including a consultant, who provides services to the
Company or any Subsidiary that are equivalent to those typically provided by an employee (provided that such person satisfies the
Form S-8 definition of an “employee”).

 

(y) “Performance
Period” means any period designated by the Committee during which (i) the Management Objectives applicable to an award
shall be measured and (ii) the conditions to vesting applicable to an award shall remain in effect.

 

(z) “Performance
Share” means a bookkeeping entry that records the equivalent of one share of Common Stock awarded pursuant to Section
8 of this Plan.

 

(aa) “Performance
Unit” means a bookkeeping entry awarded pursuant to Section 8 of this Plan that records a unit equivalent
to $1.00 or such other value as is determined by the Committee.

 

(bb) “Person”
means any individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Exchange Act).

 

(cc) “Plan”
means this NRC Group Holding Corp. 2018 Equity and Incentive Compensation Plan, as amended or amended and restated from time to
time.

 

(dd) “Restricted
Stock” means shares of Common Stock granted or sold pursuant to Section 6 of this Plan as to which neither
the substantial risk of forfeiture nor the prohibition on transfers has expired.

 

(ee) “Restricted
Stock Units” means an award made pursuant to Section 7 of this Plan of the right to receive shares of Common
Stock (or, to the extent specified in the Evidence of Award, cash or a combination thereof) at the end of the applicable Restriction
Period.

 

(ff) “Restriction
Period” means any period designated by the Committee during which (i) the Common Stock subject to a Restricted Stock
Award may not be sold, transferred, assigned, pledged, hypothecated or otherwise encumbered or disposed of, except as provided
in this Plan or the Evidence of Award, or (ii) the conditions to vesting applicable to an award shall remain in effect.

 

(gg) “Spread”
means the excess of the Market Value per Share on the date when an Appreciation Right is exercised over the Base Price provided
for with respect to the Appreciation Right.

 

(hh) “Stockholder”
means an individual or entity that owns one or more shares of Common Stock.

 

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(ii) “Subsidiary”
means a corporation, company or other entity (i) more than 50% of whose outstanding shares or securities (representing the right
to vote for the election of directors or other managing authority) are, or (ii) which does not have outstanding shares or securities
(as may be the case in a partnership, joint venture, limited liability company, unincorporated association or other similar entity),
but more than 50% of whose ownership interest representing the right generally to make decisions for such other entity is, now
or hereafter, owned or controlled, directly or indirectly, by the Company; provided, however, that for purposes of
determining whether any person may be a Participant for purposes of any grant of Incentive Stock Options, “Subsidiary”
means any corporation in which the Company at the time owns or controls, directly or indirectly, more than 50% of the total combined
Voting Power represented by all classes of stock issued by such corporation.

 

(jj) “Voting
Power” means, at any time, the combined voting power of the then-outstanding securities entitled to vote generally in
the election of Directors in the case of the Company or members of the board of directors or similar body in the case of another
entity.

 

3. Shares Available
Under this Plan.

 

(a) Maximum
Shares Available Under this Plan.

 

		(i)	Subject to adjustment as provided in Section 11
of this Plan and the share counting rules set forth in Section 3(b) of this Plan, the number of shares of Common Stock
available under this Plan for awards will not exceed in the aggregate 3,000,000 shares of Common Stock. Such shares may be shares
of original issuance or treasury shares or a combination of the foregoing.

 

		(ii)	The aggregate number of shares of Common Stock available
under Section 3(a)(i) of this Plan will be reduced by one share of Common Stock for every one share of Common Stock subject
to an award granted under this Plan.

 

(b) Share Counting
Rules.

 

		(i)	Except as provided in Section 22 of this Plan,
if any award granted under this Plan is cancelled or forfeited, expires, is settled for cash (in whole or in part), or is unearned
(in whole or in part), the shares of Common Stock subject to such award will, to the extent of such cancellation, forfeiture,
expiration, cash settlement, or unearned amount, again be available under Section 3(a)(i) above.

 

		(ii)	Notwithstanding anything to the contrary contained in
this Plan: (A) shares of Common Stock withheld by the Company, tendered or otherwise used in payment of the Option Price
of an Option Right will not be added (or added back, as applicable) to the aggregate number of shares of Common Stock available
under Section 3(a)(i) of this Plan; (B) shares of Common Stock withheld by the Company, tendered or otherwise used
to satisfy tax withholding will not be added (or added back, as applicable) to the aggregate number of shares of Common Stock
available under Section 3(a)(i) of this Plan; (C) shares of Common Stock subject to an Appreciation Right that are
not actually issued in connection with the settlement of such Appreciation Right on the exercise thereof will not be added back
to the aggregate number of shares of Common Stock available under Section 3(a)(i) of this Plan; and (D) shares of Common
Stock reacquired by the Company on the open market or otherwise using cash proceeds from the exercise of Option Rights will not
be added (or added back, as applicable) to the aggregate number of shares of Common Stock available under Section 3(a)(i)
of this Plan.

 

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		(iii)	If, under this Plan, a Participant has elected to give
up the right to receive compensation in exchange for shares of Common Stock based on fair market value, such shares of Common
Stock will not count against the aggregate limit under Section 3(a)(i) of this Plan to the extent permitted by applicable
laws and regulations.

 

(c) Limit on Incentive
Stock Options. Notwithstanding anything to the contrary contained in this Section 3 or elsewhere in this Plan,
and subject to adjustment as provided in Section 11 of this Plan, the aggregate number of shares of Common Stock actually
issued or transferred by the Company upon the exercise of Incentive Stock Options will not exceed 3,000,000 shares of Common Stock.

 

(d) Non-Employee Director
Compensation Limit. Notwithstanding anything to the contrary contained in this Section 3 or elsewhere in this Plan,
and subject to adjustment as provided in Section 11 of this Plan, in no event will any non-employee Director in any
calendar year be granted compensation for such service having an aggregate maximum value (measured at the Date of Grant as applicable,
and calculating the value of any awards based on the grant date fair value for financial reporting purposes) in excess of $600,000.

 

4. Option Rights.
The Committee may, from time to time and upon such terms and conditions as it may determine, authorize the granting to Participants
of Option Rights. Each such grant may utilize any or all of the authorizations, and will be subject to all of the requirements,
contained in the following provisions:

 

(a) Each grant will specify
the number of shares of Common Stock to which it pertains.

 

(b) Each grant will specify
an Option Price per share of Common Stock, which Option Price (except with respect to awards under Section 22 of this Plan)
may not be less than the Market Value per Share on the Date of Grant.

 

(c) Each grant will specify
whether the Option Price will be payable (i) in cash, by check acceptable to the Company or by wire transfer of immediately
available funds, (ii) by the actual or constructive transfer to the Company of shares of Common Stock owned by the Optionee having
a value at the time of exercise equal to the total Option Price, (iii) subject to any conditions or limitations established by
the Committee, by the withholding of shares of Common Stock otherwise issuable upon exercise of an Option Right pursuant to a “net
exercise” arrangement (it being understood that, solely for purposes of determining the number of treasury shares held by
the Company, the shares of Common Stock so withheld will not be treated as issued and acquired by the Company upon such exercise),
(iv) by a combination of such methods of payment, or (v) by such other methods as may be approved by the Committee.

 

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(d) To the extent permitted
by law, any grant may provide for deferred payment of the Option Price from the proceeds of sale through a bank or broker on a
date satisfactory to the Company of some or all of the shares of Common Stock to which such exercise relates.

 

(e) Successive grants
may be made to the same Participant whether or not any Option Rights previously granted to such Participant remain unexercised.

 

(f) Each grant will specify
the period or periods of continuous service by the Optionee with the Company or any Subsidiary, if any, that is necessary before
any Option Rights or installments thereof will become exercisable. Option Rights may provide for continued vesting or the earlier
exercise of such Option Rights, including in the event of the retirement, death or disability of a Participant or in the event
of a Change in Control.

 

(g) Any grant of Option
Rights may specify Management Objectives that must be achieved as a condition to the exercise of such rights.

 

(h) Option Rights granted
under this Plan may be (i) options, including Incentive Stock Options, that are intended to qualify under particular provisions
of the Code, (ii) options that are not intended to so qualify, or (iii) combinations of the foregoing. Incentive Stock Options
may only be granted to Participants who meet the definition of “employees” under Section 3401(c) of the Code.
Each Option Right, or portion thereof, that is not an Incentive Stock Option, shall be a nonstatutory Option Right.

 

(i) No Option Right will
be exercisable more than 10 years from the Date of Grant. The Committee may provide in any Evidence of Award for the automatic
exercise of an Option Right upon such terms and conditions as established by the Committee.

 

(j) Option Rights granted
under this Plan may not provide for any dividends or dividend equivalents thereon.

 

(k) Each grant of Option
Rights will be evidenced by an Evidence of Award. Each Evidence of Award will be subject to this Plan and will contain such terms
and provisions, consistent with this Plan, as the Committee may approve.

 

5. Appreciation
Rights.

 

(a) The Committee may,
from time to time and upon such terms and conditions as it may determine, authorize the granting to any Participant of Appreciation
Rights. An Appreciation Right will be the right of the Participant to receive from the Company an amount determined by the Committee,
which will be expressed as a percentage of the Spread (not exceeding 100%) at the time of exercise.

 

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(b) Each grant of Appreciation
Rights may utilize any or all of the authorizations, and will be subject to all of the requirements, contained in the following
provisions:

 

		(i)	Each grant may specify that the amount payable on exercise
of an Appreciation Right will be paid by the Company in cash, shares of Common Stock or any combination thereof.

 

		(ii)	Any grant may specify that the amount payable on exercise
of an Appreciation Right may not exceed a maximum amount specified by the Committee on the Date of Grant.

 

		(iii)	Any grant may specify waiting periods before exercise
and permissible exercise dates or periods.

 

		(iv)	Each grant will specify the period or periods of continuous
service by the Participant with the Company or any Subsidiary, if any, that is necessary before the Appreciation Rights or installments
thereof will become exercisable. Appreciation Rights may provide for continued vesting or the earlier exercise of such Appreciation
Rights, including in the event of the retirement, death or disability of a Participant or in the event of a Change in Control.

 

		(v)	Any grant of Appreciation Rights may specify Management
Objectives that must be achieved as a condition of the exercise of such Appreciation Rights.

 

		(vi)	Appreciation Rights granted under this Plan may not provide
for any dividends or dividend equivalents thereon.

 

		(vii)	Successive grants of Appreciation Rights may be made to
the same Participant regardless of whether any Appreciation Rights previously granted to the Participant remain unexercised.

 

		(viii)	Each grant of Appreciation Rights will be evidenced by
an Evidence of Award. Each Evidence of Award will be subject to this Plan and will contain such terms and provisions, consistent
with this Plan, as the Committee may approve.

 

(c) Also, regarding Appreciation
Rights:

 

		(i)	Each grant will specify in respect of each Appreciation
Right a Base Price, which (except with respect to awards under Section 22 of this Plan) may not be less than the Market
Value per Share on the Date of Grant.

 

		(ii)	No Appreciation Right granted under this Plan may be exercised
more than 10 years from the Date of Grant. The Committee may provide in any Evidence of Award for the automatic exercise of an
Appreciation Right upon such terms and conditions as established by the Committee.

 

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6. Restricted Stock.
The Committee may, from time to time and upon such terms and conditions as it may determine, authorize the grant or sale of Restricted
Stock to Participants. Each such grant or sale may utilize any or all of the authorizations, and will be subject to all of the
requirements, contained in the following provisions:

 

(a) Each such grant or
sale will constitute an immediate transfer of the ownership of shares of Common Stock to the Participant in consideration of the
performance of services, entitling such Participant to voting, dividend and other ownership rights, but subject to the substantial
risk of forfeiture and restrictions on transfer hereinafter described.

 

(b) Each such grant or
sale may be made without additional consideration or in consideration of a payment by such Participant that is less than the Market
Value per Share on the Date of Grant.

 

(c) Each such grant or
sale will provide that the Restricted Stock covered by such grant or sale will be subject to a “substantial risk of forfeiture”
within the meaning of Section 83 of the Code for a period to be determined by the Committee on the Date of Grant or until
achievement of Management Objectives referred to in Section 6(e) of this Plan.

 

(d) Each such grant or
sale will provide that during or after the period for which such substantial risk of forfeiture is to continue, the transferability
of the Restricted Stock will be prohibited or restricted in the manner and to the extent prescribed by the Committee on the Date
of Grant (which restrictions may include rights of repurchase or first refusal of the Company or provisions subjecting the Restricted
Stock to a continuing substantial risk of forfeiture while held by any transferee).

 

(e) Any grant of Restricted
Stock may specify Management Objectives that, if achieved, will result in termination or early termination of the restrictions
applicable to such Restricted Stock.

 

(f) Notwithstanding anything
to the contrary contained in this Plan, Restricted Stock may provide for continued vesting or the earlier termination of restrictions
on such Restricted Stock, including in the event of the retirement, death or disability of a Participant or in the event of a Change
in Control.

 

(g) Any such grant or
sale of Restricted Stock will require that any and all dividends or other distributions paid thereon during the period of such
restrictions be automatically deferred and/or reinvested in additional Restricted Stock, which will be subject to the same restrictions
as the underlying award. For the avoidance of doubt, any such dividends or other distributions on Restricted Stock will be deferred
until, and paid contingent upon, the vesting of such Restricted Stock.

 

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(h) Each grant or sale
of Restricted Stock will be evidenced by an Evidence of Award. Each Evidence of Award will be subject to this Plan and will contain
such terms and provisions, consistent with this Plan, as the Committee may approve. Unless otherwise directed by the Committee,
(i) all certificates representing Restricted Stock will be held in custody by the Company until all restrictions thereon will have
lapsed, together with a stock power or powers executed by the Participant in whose name such certificates are registered, endorsed
in blank and covering such shares or (ii) all Restricted Stock will be held at the Company’s transfer agent in book
entry form with appropriate restrictions relating to the transfer of such Restricted Stock.

 

7. Restricted Stock
Units. The Committee may, from time to time and upon such terms and conditions as it may determine, authorize the granting
or sale of Restricted Stock Units to Participants. Each such grant or sale may utilize any or all of the authorizations, and will
be subject to all of the requirements, contained in the following provisions:

 

(a) Each such grant or
sale will constitute the agreement by the Company to deliver shares of Common Stock or cash, or a combination thereof, to the Participant
in the future in consideration of the performance of services, but subject to the fulfillment of such conditions (which may include
the achievement of Management Objectives) during the Restriction Period as the Committee may specify.

 

(b) Each such grant or
sale may be made without additional consideration or in consideration of a payment by such Participant that is less than the Market
Value per Share on the Date of Grant.

 

(c) Notwithstanding anything
to the contrary contained in this Plan, Restricted Stock Units may provide for continued vesting or the earlier lapse or other
modification of the Restriction Period, including in the event of the retirement, death or disability of a Participant or in the
event of a Change in Control.

 

(d) During the Restriction
Period, the Participant will have no right to transfer any rights under his or her award and will have no rights of ownership in
the shares of Common Stock deliverable upon payment of the Restricted Stock Units and will have no right to vote them, but the
Committee may, at or after the Date of Grant, authorize the payment of dividend equivalents on such Restricted Stock Units on a
deferred and contingent basis, either in cash or in additional shares of Common Stock; provided, however, that dividend
equivalents or other distributions on shares of Common Stock underlying Restricted Stock Units will be deferred until and paid
contingent upon the vesting of such Restricted Stock Units.

 

(e) Each grant or sale
of Restricted Stock Units will specify the time and manner of payment of the Restricted Stock Units that have been earned. Each
grant or sale will specify that the amount payable with respect thereto will be paid by the Company in shares of Common Stock or
cash, or a combination thereof.

 

(f) Each grant or sale
of Restricted Stock Units will be evidenced by an Evidence of Award. Each Evidence of Award will be subject to this Plan and will
contain such terms and provisions, consistent with this Plan, as the Committee may approve.

 

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8. Cash Incentive
Awards, Performance Shares and Performance Units. The Committee may, from time to time and upon such terms and conditions as
it may determine, authorize the granting of Cash Incentive Awards, Performance Shares and Performance Units. Each such grant may
utilize any or all of the authorizations, and will be subject to all of the requirements, contained in the following provisions:

 

(a) Each grant will specify
the number or amount of Performance Shares or Performance Units, or amount payable with respect to a Cash Incentive Award, to which
it pertains, which number or amount may be subject to adjustment to reflect changes in compensation or other factors.

 

(b) The Performance Period
with respect to each Cash Incentive Award or grant of Performance Shares or Performance Units will be such period of time as will
be determined by the Committee, which may be subject to continued vesting or earlier lapse or other modification, including in
the event of the retirement, death or disability of a Participant or in the event of a Change in Control.

 

(c) Each grant of a Cash
Incentive Award, Performance Shares or Performance Units will specify Management Objectives which, if achieved, will result in
payment or early payment of the award, and each grant may specify in respect of such specified Management Objectives a minimum
acceptable level or levels of achievement and may set forth a formula for determining the number of Performance Shares or Performance
Units, or amount payable with respect to a Cash Incentive Award, that will be earned if performance is at or above the minimum
or threshold level or levels, or is at or above the target level or levels, but falls short of maximum achievement of the specified
Management Objectives.

 

(d) Each grant will specify
the time and manner of payment of a Cash Incentive Award, Performance Shares or Performance Units that have been earned. Each grant
will specify whether the amount payable with respect thereto shall be paid by the Company in cash, in shares of Common Stock, in
Restricted Stock or Restricted Stock Units or in any combination thereof.

 

(e) Any grant of a Cash
Incentive Award, Performance Shares or Performance Units may specify that the amount payable or the number of shares of Common
Stock, Restricted Stock or Restricted Stock Units payable with respect thereto may not exceed a maximum amount specified by the
Committee on the Date of Grant.

 

(f) The Committee may,
on the Date of Grant of Performance Shares or Performance Units, provide for the payment of dividend equivalents to the holder
thereof either in cash or in additional shares of Common Stock, subject in all cases to deferral and payment on a contingent basis
based on the Participant’s earning of the Performance Shares or Performance Units, as applicable, with respect to which such
dividend equivalents are paid.

 

(g) Each grant of a Cash
Incentive Award, Performance Shares or Performance Units will be evidenced by an Evidence of Award. Each Evidence of Award will
be subject to this Plan and will contain such terms and provisions, consistent with this Plan, as the Committee may approve.

 

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9. Other Awards.

 

(a) Subject to applicable
law and the applicable limits set forth in Section 3 of this Plan, the Committee may authorize the grant to any Participant
of shares of Common Stock or such other awards that may be denominated or payable in, valued in whole or in part by reference to,
or otherwise based on, or related to, shares of Common Stock or factors that may influence the value of such shares, including,
without limitation, convertible or exchangeable debt securities, other rights convertible or exchangeable into shares of Common
Stock, purchase rights for shares of Common Stock, awards with value and payment contingent upon performance of the Company or
specified Subsidiaries, affiliates or other business units thereof or any other factors designated by the Committee, and awards
valued by reference to the book value of the shares of Common Stock or the value of securities of, or the performance of specified
Subsidiaries or affiliates or other business units of the Company. The Committee will determine the terms and conditions of such
awards. Shares of Common Stock delivered pursuant to an award in the nature of a purchase right granted under this Section 9
will be purchased for such consideration, paid for at such time, by such methods, and in such forms, including, without limitation,
shares of Common Stock, other awards, notes or other property, as the Committee determines.

 

(b) Cash awards, as an
element of or supplement to any other award granted under this Plan, may also be granted pursuant to this Section 9.

 

(c) The Committee may
authorize the grant of shares of Common Stock as a bonus, or may authorize the grant of other awards in lieu of obligations of
the Company or a Subsidiary to pay cash or deliver other property under this Plan or under other plans or compensatory arrangements,
subject to such terms as will be determined by the Committee in a manner that complies with Section 409A of the Code.

 

(d) The Committee may,
at or after the Date of Grant, authorize the payment of dividends or dividend equivalents on awards granted under this Section
9 on a deferred and contingent basis, either in cash or in additional shares of Common Stock; provided, however,
that dividend equivalents or other distributions on shares of Common Stock underlying awards granted under this Section 9
will be deferred until and paid contingent upon the earning of such awards.

 

(e) Notwithstanding anything
to the contrary contained in this Plan, awards under this Section 9 may provide for the earning or vesting of, or earlier
elimination of restrictions applicable to, such award, including in the event of the retirement, death or disability of a Participant
or in the event of a Change in Control.

 

10. Administration
of this Plan.

 

(a) This Plan will be
administered by the Committee. The Committee may from time to time delegate all or any part of its authority under this Plan to
a subcommittee thereof. To the extent of any such delegation, references in this Plan to the Committee will be deemed to be references
to such subcommittee.

 

    12

     

    

 

(b) The interpretation
and construction by the Committee of any provision of this Plan or of any Evidence of Award (or related documents) and any determination
by the Committee pursuant to any provision of this Plan or of any such agreement, notification or document will be final and conclusive.
No member of the Committee shall be liable for any such action or determination made in good faith. In addition, the Committee
is authorized to take any action it determines in its sole discretion to be appropriate subject only to the express limitations
contained in this Plan, and no authorization in any Plan section or other provision of this Plan is intended or may be deemed to
constitute a limitation on the authority of the Committee.

 

(c) The Committee may
delegate some or all of its power and authority hereunder to the Board (or any members thereof) or, subject to applicable law,
to a subcommittee of the Board, a member of the Board, the Chief Executive Officer or other executive officer of the Company as
the Committee deems appropriate; provided, however, that the Committee may not delegate its power and authority to
a member of the Board, the Chief Executive Officer or other executive officer of the Company with regard to the selection for participation
in this Plan of an officer, director or other person subject to Section 16 of the Exchange Act or decisions concerning the timing,
pricing or amount of an award to such an officer, director or other person.

 

11. Adjustments.
The Committee shall make or provide for such adjustments in the number of and kind of shares of Common Stock covered by outstanding
Option Rights, Appreciation Rights, Restricted Stock, Restricted Stock Units, Performance Shares and Performance Units granted
hereunder and, if applicable, in the number of and kind of shares of Common Stock covered by other awards granted pursuant to Section
9 of this Plan, in the Option Price and Base Price provided in outstanding Option Rights and Appreciation Rights, respectively,
in Cash Incentive Awards, and in other award terms, as the Committee, in its sole discretion, exercised in good faith, determines
is equitably required to prevent dilution or enlargement of the rights of Participants that otherwise would result from (a) any
extraordinary cash dividend, stock dividend, stock split, combination of shares, recapitalization or other change in the capital
structure of the Company, (b) any merger, consolidation, spin-off, split-off, spin-out, split-up, reorganization, partial
or complete liquidation or other distribution of assets, issuance of rights or warrants to purchase securities, or (c) any
other corporate transaction or event having an effect similar to any of the foregoing. Moreover, in the event of any such transaction
or event or in the event of a Change in Control, the Committee may provide in substitution for any or all outstanding awards under
this Plan such alternative consideration (including cash), if any, as it, in good faith, may determine to be equitable in the circumstances
and shall require in connection therewith the surrender of all awards so replaced in a manner that complies with Section 409A
of the Code. In addition, for each Option Right or Appreciation Right with an Option Price or Base Price, respectively, greater
than the consideration offered in connection with any such transaction or event or Change in Control, the Committee may in its
discretion elect to cancel such Option Right or Appreciation Right without any payment to the person holding such Option Right
or Appreciation Right. The Committee shall also make or provide for such adjustments in the number of shares of Common Stock specified
in Section 3 of this Plan as the Committee in its sole discretion, exercised in good faith, determines is appropriate to
reflect any transaction or event described in this Section 11; provided, however, that any such adjustment
to the number specified in Section 3(c) of this Plan will be made only if and to the extent that such adjustment would not
cause any Option Right intended to qualify as an Incentive Stock Option to fail to so qualify.

 

    13

     

    

 

12. Change in Control.
For purposes of this Plan, a “Change in Control” will be deemed to have occurred upon the occurrence (after
the Effective Date) of any of the following events:

 

(a) the acquisition by
any Person of beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of 35% or more of either:
(i) the then-outstanding shares of Common Stock; or (ii) the combined voting power of the then-outstanding voting securities of
the Company entitled to vote generally in the election of directors or managers, as applicable (“Voting Shares”);
provided, however, that for purposes of this Section 12(a), the following acquisitions shall not constitute
a Change in Control: (A) any acquisition directly from the Company; (B) any acquisition by the Company or any of its affiliates;
(C) any acquisition by any employee benefit plan (or related trust) sponsored or maintained by the Company or any of its affiliates;
or (D) any acquisition by any Person pursuant to a transaction which complies with clauses (i), (ii) and (iii) of Section 12(c);

 

(b) individuals who,
as of the Effective Date, constitute the Board (the “Incumbent Board”) cease for any reason (other than death or disability)
to constitute at least a majority of the Board; provided, however, that any individual becoming a director subsequent
to the Effective Date whose election, or nomination for election by the Stockholders, was approved by a vote or the approval of
at least a majority of the directors then comprising the Incumbent Board (either by a specific vote or written action or by approval
of the proxy statement of the Company in which such person is named as a nominee for director, without objection to such nomination)
shall be considered as though such individual were a member of the Incumbent Board, but excluding for this purpose, any such individual
whose initial assumption of office occurs as a result of an actual or threatened election contest with respect to the election
or removal of directors or other actual or threatened solicitation of proxies or consents by or on behalf of a Person other than
the Board;

 

(c) consummation of a
reorganization, merger or consolidation or sale or other disposition of all or substantially all of the assets of the Company (a
“Business Combination”), in each case, unless, following such Business Combination, (i) all or substantially all of
the Persons who were the beneficial owners, respectively, of the shares of Common Stock and Voting Shares immediately prior to
such Business Combination beneficially own, directly or indirectly, more than 66-2/3% of, respectively, the then-outstanding common
shares and the combined voting power of the then-outstanding voting securities entitled to vote generally in the election of directors,
as the case may be, of the entity resulting from such Business Combination (including an entity which as a result of such transaction
owns the Company or all or substantially all of the Company’s assets either directly or through one or more subsidiaries)
in substantially the same proportions relative to each other as their ownership, immediately prior to such Business Combination,
of the shares of Common Stock and Voting Shares of the Company, as the case may be, (ii) no Person (excluding any entity resulting
from such Business Combination or any employee benefit plan (or related trust) sponsored or maintained by the Company or any of
its affiliates or such entity resulting from such Business Combination) beneficially owns, directly or indirectly, 30% or more
of, respectively, the then-outstanding common equity securities of the entity resulting from such Business Combination, or the
combined voting power of the then-outstanding voting securities of such entity except to the extent that such ownership existed
prior to the Business Combination, and (iii) at least a majority of the members of the board of directors or managers, as applicable,
of the entity resulting from such Business Combination were members of the Incumbent Board at the time of the execution of the
initial agreement, or of the action of the Board, providing for such Business Combination; or

 

    14

     

    

 

(d) approval by the Stockholders of a complete
liquidation or dissolution of the Company.

 

Notwithstanding anything
herein to the contrary, in no event will the disposition of any portion of JFL-NRC-SES Partners, LLC’s ownership interest
in the Company alone be deemed to be a Change in Control.

 

13. Detrimental
Activity and Recapture Provisions. Any Evidence of Award may reference a clawback policy of the Company or provide for the
cancellation or forfeiture of an award or the forfeiture and repayment to the Company of any gain related to an award, or other
provisions intended to have a similar effect, upon such terms and conditions as may be determined by the Committee from time to
time, if a Participant, either (a) during employment or other service with the Company or a Subsidiary, or (b) within a specified
period after termination of such employment or service, engages in any detrimental activity, as described in the applicable Evidence
of Award or such clawback policy. In addition, notwithstanding anything in this Plan to the contrary, any Evidence of Award or
such clawback policy may also provide for the cancellation or forfeiture of an award or the forfeiture and repayment to the Company
of any shares of Common Stock issued under and/or any other benefit related to an award, or other provisions intended to have a
similar effect, upon such terms and conditions as may be required by the Committee or under Section 10D of the Exchange Act and
any applicable rules or regulations promulgated by the Securities and Exchange Commission or any national securities exchange or
national securities association on which the shares of Common Stock may be traded.

 

14. Non-U.S. Participants.
In order to facilitate the making of any grant or combination of grants under this Plan, the Committee may provide for such special
terms for awards to Participants who are foreign nationals or who are employed by the Company or any Subsidiary outside of the
United States of America or who provide services to the Company or any Subsidiary, as the Committee may consider necessary or appropriate
to accommodate differences in local law, tax policy or custom. Moreover, the Committee may approve such supplements to or amendments,
restatements or alternative versions of this Plan (including sub-plans) as it may consider necessary or appropriate for such purposes,
without thereby affecting the terms of this Plan as in effect for any other purpose, and the secretary or other appropriate officer
of the Company may certify any such document as having been approved and adopted in the same manner as this Plan. No such special
terms, supplements, amendments or restatements, however, will include any provisions that are inconsistent with the terms of this
Plan as then in effect unless this Plan could have been amended to eliminate such inconsistency without further approval by the
Stockholders.

 

    15

     

    

 

15. Transferability.

 

(a) Except as otherwise
determined by the Committee, no Option Right, Appreciation Right, Restricted Stock, Restricted Stock Unit, Performance Share, Performance
Unit, Cash Incentive Award, award contemplated by Section 9 of this Plan or dividend equivalents paid with respect to awards
made under this Plan will be transferable by the Participant except by will or the laws of descent and distribution. In no event
will any such award granted under this Plan be transferred for value. Except as otherwise determined by the Committee, Option Rights
and Appreciation Rights will be exercisable during the Participant’s lifetime only by him or her or, in the event of the
Participant’s legal incapacity to do so, by his or her guardian or legal representative acting on behalf of the Participant
in a fiduciary capacity under state law or court supervision.

 

(b) The Committee may
specify on the Date of Grant that part or all of the shares of Common Stock that are (i) to be issued or transferred by the Company
upon the exercise of Option Rights or Appreciation Rights, upon the termination of the Restriction Period applicable to Restricted
Stock Units or upon payment under any grant of Performance Shares or Performance Units or (ii) no longer subject to the substantial
risk of forfeiture and restrictions on transfer referred to in Section 6 of this Plan, will be subject to further restrictions
on transfer.

 

16. Withholding
Taxes. To the extent that the Company is required to withhold federal, state, local or foreign taxes or other amounts in connection
with any payment made or benefit realized by a Participant or other person under this Plan, and the amounts available to the Company
for such withholding are insufficient, it will be a condition to the receipt of such payment or the realization of such benefit
that the Participant or such other person make arrangements satisfactory to the Company for payment of the balance of such taxes
or other amounts required to be withheld, which arrangements (in the discretion of the Committee) may include relinquishment of
a portion of such benefit. If a Participant’s benefit is to be received in the form of shares of Common Stock, and such Participant
fails to make arrangements for the payment of taxes or other amounts, then, unless otherwise determined by the Committee, the Company
will withhold shares of Common Stock having a value equal to the amount required to be withheld. Notwithstanding the foregoing,
when a Participant is required to pay the Company an amount required to be withheld under applicable income, employment, tax or
other laws, the Participant may elect, unless otherwise determined by the Committee, to satisfy the obligation, in whole or in
part, by having withheld, from the shares of Common Stock required to be delivered to the Participant, shares of Common Stock having
a value equal to the amount required to be withheld or by delivering to the Company other shares of Common Stock held by such Participant.
The shares of Common Stock used for tax or other withholding will be valued at an amount equal to the fair market value of such
shares of Common Stock on the date the benefit is to be included in Participant’s income. In no event will the fair market
value of the shares of Common Stock to be withheld and delivered pursuant to this Section 16 exceed the minimum amount required
to be withheld, unless (i) an additional amount can be withheld and not result in adverse accounting consequences, (ii) such
additional withholding amount is authorized by the Committee, and (iii) the total amount withheld does not exceed the Participant’s
estimated tax obligations attributable to the applicable transaction. Participants will also make such arrangements as the Company
may require for the payment of any withholding tax or other obligation that may arise in connection with the disposition of shares
of Common Stock acquired upon the exercise of Option Rights.

 

    16

     

    

 

17. Compliance with
Section 409A of the Code.

 

(a) To the extent applicable,
it is intended that this Plan and any grants made hereunder comply with the provisions of Section 409A of the Code, so that
the income inclusion provisions of Section 409A(a)(1) of the Code do not apply to the Participants. This Plan and any grants
made hereunder will be administered in a manner consistent with this intent. Any reference in this Plan to Section 409A of
the Code will also include any regulations or any other formal guidance promulgated with respect to such section by the U.S. Department
of the Treasury or the Internal Revenue Service.

 

(b) Neither a Participant
nor any of a Participant’s creditors or beneficiaries will have the right to subject any deferred compensation (within the
meaning of Section 409A of the Code) payable under this Plan and grants hereunder to any anticipation, alienation, sale, transfer,
assignment, pledge, encumbrance, attachment or garnishment. Except as permitted under Section 409A of the Code, any deferred
compensation (within the meaning of Section 409A of the Code) payable to a Participant or for a Participant’s benefit
under this Plan and grants hereunder may not be reduced by, or offset against, any amount owed by a Participant to the Company
or any of its Subsidiaries.

 

(c) If, at the time of
a Participant’s separation from service (within the meaning of Section 409A of the Code), (i) the Participant will
be a specified employee (within the meaning of Section 409A of the Code and using the identification methodology selected
by the Company from time to time) and (ii) the Company makes a good faith determination that an amount payable hereunder constitutes
deferred compensation (within the meaning of Section 409A of the Code) the payment of which is required to be delayed pursuant
to the six-month delay rule set forth in Section 409A of the Code in order to avoid taxes or penalties under Section 409A
of the Code, then the Company will not pay such amount on the otherwise scheduled payment date but will instead pay it, without
interest, on the earlier to occur of (i) the fifth business day of the seventh month after such separation from service and (ii)
the Participant’s death.

 

(d) Solely with respect
to any award that constitutes nonqualified deferred compensation subject to Section 409A of the Code and that is payable on
account of a Change in Control (including any installments or stream of payments that are accelerated on account of a Change in
Control), a Change in Control shall occur only if such event also constitutes a “change in the ownership,” “change
in effective control,” and/or a “change in the ownership of a substantial portion of assets” of the Company as
those terms are defined under Treasury Regulation §1.409A-3(i)(5), but only to the extent necessary to establish a time and
form of payment that complies with Section 409A of the Code, without altering the definition of Change in Control for any
purpose in respect of such award.

 

(e) Notwithstanding any
provision of this Plan and grants hereunder to the contrary, in light of the uncertainty with respect to the proper application
of Section 409A of the Code, the Company reserves the right to make amendments to this Plan and grants hereunder as the Company
deems necessary or desirable to avoid the imposition of taxes or penalties under Section 409A of the Code. In any case, a
Participant will be solely responsible and liable for the satisfaction of all taxes and penalties that may be imposed on a Participant
or for a Participant’s account in connection with this Plan and grants hereunder (including any taxes and penalties under
Section 409A of the Code), and neither the Company nor any of its affiliates will have any obligation to indemnify or otherwise
hold a Participant harmless from any or all of such taxes or penalties.

 

    17

     

    

 

18. Amendments.

 

(a) The Board may at
any time and from time to time amend this Plan in whole or in part; provided, however, that no amendment to the Plan
shall be effective without the approval of the Company’s stockholders if (i) stockholder approval is required by applicable
law, rule or regulation, including any rule of the NYSE, or any other stock exchange on which the Common Stock is then traded,
or (ii) such amendment seeks to modify the non-employee Director compensation limits set forth in Section 3(d).

 

(b) Except in connection
with a corporate transaction or event described in Section 11 of this Plan or in connection with a Change in Control,
the terms of outstanding awards may not be amended to reduce the Option Price of outstanding Option Rights or the Base Price of
outstanding Appreciation Rights, or cancel outstanding “underwater” Option Rights or Appreciation Rights in exchange
for cash, other awards or Option Rights or Appreciation Rights with an Option Price or Base Price, as applicable, that is less
than the Option Price of the original Option Rights or Base Price of the original Appreciation Rights, as applicable, without Stockholder
approval. This Section 18(b) is intended to prohibit the repricing of “underwater” Option Rights and Appreciation
Rights and will not be construed to prohibit the adjustments provided for in Section 11 of this Plan. Notwithstanding any
provision of this Plan to the contrary, this Section 18(b) may not be amended without approval by the Stockholders.

 

(c) If permitted by Section
409A of the Code, but subject to the paragraph that follows, including in the case of termination of employment or service, or
in the case of unforeseeable emergency or other circumstances or in the event of a Change in Control, to the extent a Participant
holds an Option Right or Appreciation Right not immediately exercisable in full, or any Restricted Stock as to which the substantial
risk of forfeiture or the prohibition or restriction on transfer has not lapsed, or any Restricted Stock Units as to which the
Restriction Period has not been completed, or any Cash Incentive Awards, Performance Shares or Performance Units which have not
been fully earned, or any dividend equivalents or other awards made pursuant to Section 9 of this Plan subject to any vesting
schedule or transfer restriction, or who holds shares of Common Stock subject to any transfer restriction imposed pursuant to Section
15(b) of this Plan, the Committee may, in its sole discretion, provide for continued vesting or accelerate the time at which
such Option Right, Appreciation Right or other award may be exercised or the time at which such substantial risk of forfeiture
or prohibition or restriction on transfer will lapse or the time when such Restriction Period will end or the time at which such
Cash Incentive Awards, Performance Shares or Performance Units will be deemed to have been fully earned or the time when such transfer
restriction will terminate or may waive any other limitation or requirement under any such award.

 

    18

     

    

 

(d) Subject to Section 18(b)
of this Plan, the Committee may amend the terms of any award theretofore granted under this Plan prospectively or retroactively.
Except for adjustments made pursuant to Section 11 of this Plan, no such amendment will materially impair the rights
of any Participant without his or her consent. The Board may, in its discretion, terminate this Plan at any time. Termination of
this Plan will not affect the rights of Participants or their successors under any awards outstanding hereunder and not exercised
in full on the date of termination.

 

19. Governing Law.
This Plan and all grants and awards and actions taken hereunder will be governed by and construed in accordance with the internal
substantive laws of the State of Delaware.

 

20. Effective Date/Termination.
This Plan will be effective as of the Effective Date. No grant will be made under this Plan on or after the tenth anniversary of
the Effective Date, but all grants made prior to such date will continue in effect thereafter subject to the terms thereof and
of this Plan. Awards hereunder may be made at any time prior to the termination of this Plan, provided that no Incentive Stock
Options may be granted later than ten years after the date on which the Plan was approved by the Board.

 

21. Miscellaneous
Provisions.

 

(a) The Company will
not be required to issue any fractional shares of Common Stock pursuant to this Plan. The Committee may provide for the elimination
of fractions or for the settlement of fractions in cash.

 

(b) This Plan will not
confer upon any Participant any right with respect to continuance of employment or other service with the Company or any Subsidiary,
nor will it interfere in any way with any right the Company or any Subsidiary would otherwise have to terminate such Participant’s
employment or other service at any time.

 

(c) Except with respect
to Section 21(e) of this Plan, to the extent that any provision of this Plan would prevent any Option Right that was intended
to qualify as an Incentive Stock Option from qualifying as such, that provision will be null and void with respect to such Option
Right. Such provision, however, will remain in effect for other Option Rights and there will be no further effect on any provision
of this Plan.

 

(d) No award under this
Plan may be exercised by the holder thereof if such exercise, and the receipt of cash or stock thereunder, would be, in the opinion
of counsel selected by the Company, contrary to law or the regulations of any duly constituted authority having jurisdiction over
this Plan.

 

(e) Subject to Section
409A of the Code or the extent otherwise provided for in an Evidence of Award, absence on leave approved by a duly constituted
officer of the Company or any of its Subsidiaries will not be considered interruption or termination of service of any employee
for any purposes of this Plan or awards granted hereunder.

 

(f) No Participant will
have any rights as a Stockholder with respect to any shares of Common Stock subject to awards granted to him or her under this
Plan prior to the date as of which he or she is actually recorded as the holder of such shares of Common Stock upon the stock records
of the Company.

 

    19

     

    

 

(g) Subject to Section
409A of the Code, the Committee may condition the grant of any award or combination of awards authorized under this Plan on the
surrender or deferral by the Participant of his or her right to receive a cash bonus or other compensation otherwise payable by
the Company or a Subsidiary to the Participant.

 

(h) Except with respect
to Option Rights and Appreciation Rights, the Committee may permit Participants to elect to defer the issuance of shares of Common
Stock under this Plan pursuant to such rules, procedures or programs as it may establish for purposes of this Plan and which are
intended to comply with the requirements of Section 409A of the Code. The Committee also may provide that deferred issuances and
settlements include the crediting of dividend equivalents or interest on the deferral amounts.

 

(i) If any provision
of this Plan is or becomes invalid or unenforceable in any jurisdiction, or would disqualify this Plan or any award under any law
deemed applicable by the Committee, such provision will be construed or deemed amended or limited in scope to conform to applicable
laws or, in the discretion of the Committee, it will be stricken and the remainder of this Plan will remain in full force and effect.
Notwithstanding anything in this Plan or an Evidence of Award to the contrary, nothing in this Plan or in an Evidence of Award
prevents a Participant from providing, without prior notice to the Company, information to governmental authorities regarding possible
legal violations or otherwise testifying or participating in any investigation or proceeding by any governmental authorities regarding
possible legal violations, and for purpose of clarity a Participant is not prohibited from providing information voluntarily to
the Securities and Exchange Commission pursuant to Section 21F of the Exchange Act.

 

22. Stock-Based
Awards in Substitution for Awards Granted by Another Company. Notwithstanding anything in this Plan to the contrary:

 

(a) Awards may be granted
under this Plan in substitution for or in conversion of, or in connection with an assumption of, stock options, stock appreciation
rights, restricted stock, restricted stock units or other stock or stock-based awards held by awardees of an entity engaging in
a corporate acquisition or merger transaction with the Company or any Subsidiary. Any conversion, substitution or assumption will
be effective as of the close of the merger or acquisition, and, to the extent applicable, will be conducted in a manner that complies
with Section 409A of the Code. The awards so granted may reflect the original terms of the awards being assumed or substituted
or converted for and need not comply with other specific terms of this Plan, and may account for shares of Common Stock substituted
for the securities covered by the original awards and the number of shares subject to the original awards, as well as any exercise
or purchase prices applicable to the original awards, adjusted to account for differences in stock prices in connection with the
transaction.

 

    20

     

    

 

(b) In the event that
a company acquired by the Company or any Subsidiary or with which the Company or any Subsidiary merges has shares available under
a pre-existing plan previously approved by stockholders and not adopted in contemplation of such acquisition or merger, the shares
available for grant pursuant to the terms of such plan (as adjusted, to the extent appropriate, to reflect such acquisition or
merger) may be used for awards made after such acquisition or merger under this Plan; provided, however, that awards
using such available shares may not be made after the date awards or grants could have been made under the terms of the pre-existing
plan absent the acquisition or merger, and may only be made to individuals who were not employees or directors of the Company or
any Subsidiary prior to such acquisition or merger.

 

(c) Any shares of Common
Stock that are issued or transferred by, or that are subject to any awards that are granted by, or become obligations of, the Company
under Sections 22(a) or 22(b) of this Plan will not reduce the shares of Common Stock available for issuance
or transfer under this Plan or otherwise count against the limits contained in Section 3 of this Plan. In addition, no shares
of Common Stock subject to an award that is granted by, or becomes an obligation of, the Company under Sections 22(a) or
22(b) of this Plan will be added to the aggregate limit contained in Section 3(a)(i) of this Plan.

 

    21Exhibit 10.10

 

INTELLECTUAL PROPERTY SECURITY
AGREEMENT

 

This INTELLECTUAL
PROPERTY SECURITY AGREEMENT (this “Agreement”) is made as of June 11, 2018 between each of the signatories
hereto (collectively, the “Grantors”) in favor of BNP PARIBAS, as collateral agent for the Secured Parties
(in such capacity, the “Collateral Agent”) (as defined in the Pledge and Security Agreement referred to below).

 

RECITALS:

 

WHEREAS, reference
is made to that certain Pledge and Security Agreement, dated as of June 11, 2018 (as it may be amended, restated, supplemented
or otherwise modified from time to time, the “Pledge and Security Agreement”), by and among the Grantors, the
other grantors party thereto and the Collateral Agent; and

 

WHEREAS, under
the terms of the Pledge and Security Agreement, the Grantors have (i) as collateral security for the Secured Obligations, granted
to the Collateral Agent a security interest in and continuing lien on all of such Grantor’s right, title and interest in,
to and under the Collateral (as defined in the Pledge and Security Agreement), including, without limitation, certain Intellectual
Property of the Grantors and (ii) agreed to execute this Agreement for recording with the United States Patent and Trademark Office,
and other applicable Governmental Authorities.

 

NOW, THEREFORE,
in consideration of the premises and the agreements, provisions and covenants herein contained, each Grantor and the Collateral
Agent agree as follows:

 

Section 1. Grant
of Security. As collateral security for the prompt and complete payment or performance in full when due, whether at stated
maturity, by required prepayment, declaration, acceleration, demand or otherwise of the Secured Obligations, each Grantor hereby
grants to the Collateral Agent a security interest in and continuing lien on all of such Grantor’s right, title and interest
in, to and under the following:

 

(a) All United States
trademarks, trade names, corporate names, company names, business names, fictitious business names, Internet domain names, service
marks, certification marks, collective marks, logos, other source or business identifiers, designs and general intangibles of a
like nature, all registrations and applications for any of the foregoing including, but not limited to (i) the registrations and
applications referred to in Schedule 1 hereto, (ii) all extensions or renewals of any of the foregoing, (iii) all of the
goodwill of the business associated with the use of and symbolized by the foregoing, (iv) the right to sue for past, present and
future infringement or dilution of any of the foregoing or for any injury to goodwill, and (v) all Proceeds of the foregoing, including
any royalties or income from the Trademark Licenses and any and all payments, claims, damages, and proceeds of suit (collectively,
the “Trademarks”).

 

Section 2. Recordation. Each Grantor
authorizes and requests that the Commissioner of Patents and Trademarks and any other applicable government officer record this
Agreement.

 

Section 3. Counterparts. This Agreement
may be executed in counterparts (and by different parties hereto in different counterparts), each of which shall constitute an
original, but all of which when taken together shall constitute a single contract. Delivery of an executed counterpart of a signature
page of this Agreement by facsimile or in electronic (i.e., “pdf” or “tif”) format shall be effective
as delivery of a manually executed counterpart of this Agreement.

 

     

     

    

 

Section 4. Governing Law. This Agreement
and any claims, controversy, dispute or cause of action (whether in contract or tort or otherwise) based upon, arising out of or
relating to this Agreement and the transactions contemplated hereby and thereby shall be governed by, and construed in accordance
with, the law of the State of New York.

 

Section 5. Conflict Provision.
This Agreement has been entered into in conjunction with the provisions of the Pledge and Security Agreement and the Credit Agreement.
The rights and remedies of each party hereto with respect to the security interest granted herein are without prejudice to, and
are in addition to those set forth in the Pledge and Security Agreement and the Credit Agreement, all terms and provisions of
which are incorporated herein by reference. If any provisions of this Intellectual Property Security Agreement are in conflict
with the Pledge and Security Agreement or the Credit Agreement, the provisions of the Pledge and Security Agreement or the Credit
Agreement shall govern. 

 

[remainder of page intentionally left blank]

 

    	 	2	 

     

    

 

IN WITNESS WHEREOF, each Grantor
and the Collateral Agent have caused this Agreement to be duly executed and delivered by their respective officers thereunto duly
authorized as of the date first written above.

 

	 	NATIONAL RESPONSE CORPORATION,
	 	as a Grantor
	 	 	 
	 	By:	/s/
    Glenn M. Shor
	 	Name: Glenn M. Shor
	 	Title: Secretary
	 	 	 
	 	NRC NY ENVIRONMENTAL SERVICES,
    INC.,
	 	as a Grantor
	 	 	 
	 	By:	/s/
    Paul Taveira
	 	Name: Paul Taveira
	 	Title: President and CEO
	 	 	 
	 	PROGRESSIVE ENVIRONMENTAL SERVICES,
    INC.,
	 	as a Grantor
	 	 	 
	 	By: 	/s/
    Glenn M. Shor
	 	Name: Glenn M. Shor
	 	Title: Treasurer and Assistant Secretary

 

[Signature Page to IP Security Agreement
(Trademarks)]

 

    	 	3	 

     

    

 

	 	BNP PARIBAS, as Collateral Agent
	 	 	 
	 	By:	/s/ Michael Colias
	 	 	Name: Michael Colias
	 	 	Title:  Managing Director
	 	 	 
	 	By:	/s/ Davin Engelson
	 	 	Name: Davin Engelson
	 	 	Title:  Director

 

[Signature Page to IP Security Agreement
(Trademarks)]

 

    	 	4

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