Document:

exv10w3

Exhibit 10.3

EMPLOYMENT AGREEMENT

AGREEMENT, dated as of May 13, 2009 by and between ABTECH INDUSTRIES, Inc., a Delaware Corporation
having an office at 4110 N. Scottsdale Road, Suite 235, Scottsdale, AZ, 85251 (the “Company”), and
Lane J. Castleton, residing at 2727 E. Pegasus St., Gilbert, AZ 85234 (“Executive”).

WITNESSETH:

WHEREAS, the Company desires to employ Executive as Vice President and Chief Financial Officer, and
Executive desires to be so employed by the Company;

NOW, THEREFORE, in consideration of the covenants and agreements hereinafter set forth, the parties
hereto agree as follows:

	1.	 	Employment Term. The Company hereby employs Executive, and Executive hereby accepts
employment with the Company, as Vice President and Chief Financial Officer, upon the terms and
conditions contained in this Agreement. The term of Executive’s employment hereunder (the
“Employment Period”) shall commence on the date hereof (the “Effective Date”) and shall
continue until terminated by either party as hereinafter provided.

	2.	 	Duties. During the Employment Period, Executive shall serve as Vice President and
Chief Financial Officer, and report to the President of the Company. Executive shall
diligently, competently and faithfully perform for the Company the duties of said office as
outlined in the Company’s By-Laws, and such other duties typical of Executive’s position as
shall be specified, designated or modified, from time to time, by the Board of Directors of
the Company. Executive shall devote all of his business time and effort to the performance of
his duties to the Company hereunder.

	3.	 	Compensation.

	 	a.	 	Base Salary: During the Employment Period the Company shall pay to Executive a salary
at the minimum annual rate of $120,000.
	 
	 	b.	 	Performance Incentives:

	 	i)	 	Upon the Company achieving an annual revenue pace of $5,000,000 in a
two-quarter period (i.e., over $2,500,000 in revenue is recognized in a period of
two-consecutive quarters), Executive’s minimum annual salary shall thereafter be
increased to $150,000.
	 
	 	ii)	 	Upon the Company achieving an annual revenue pace of $10,000,000 in a
two-quarter period (i.e., over $5,000,000 in revenue is recognized in a period of two
consecutive quarters), Executive’s minimum annual salary shall thereafter be increased
to $175,000.
	 
	 	iii)	 	Any cash bonuses awarded to Executive during the term of this agreement will be
at the discretion of the Board of Directors.

	4.	 	Expenses and Benefits.

	 	(a)	 	During the Employment Period, the Company agrees to promptly reimburse Executive
for all reasonable expenses paid or incurred by Executive in connection with the
performance of his duties for the Company hereunder, including without limitation expenses
for travel, entertainment

 

 

	 	 	 	and similar items; provided, however, that the Executive provides documentation reasonably
satisfactory to the Company and its accountant for all expenses.

	 	(b)	 	During the Employment Period, Executive shall be entitled to participate in any
retirement, pension, profit-sharing, or other similar plan or plans which may be instituted
by the Company for the benefit of its staff employees generally, upon such terms and
subject to the eligibility requirements stipulated in such plans, which may be amended from
time to time.
	 
	 	(c)	 	During the Employment Period, Executive shall be entitled to participate in any bonus,
stock option, supplemental compensation, or other similar plans which may be instituted by
the Board or any compensation committee of the Board of Directors of the Company, upon such
terms and subject to the eligibility requirements stipulated in such plans, which may be
amended from time to time.
	 
	 	(d)	 	During the Employment Period, Executive shall be entitled to four (4) weeks paid
vacation per year in accordance with such Company policies as may be in effect from time to
time.
	 
	 	(e)	 	During the Employment Period, Executive and Executive’s dependents shall be entitled to
participate in and be covered by the Company’s group health insurance plan as may be in
effect from time to time.

	5.	 	Termination. Executive’s employment hereunder may be terminated as follows:

	 	(a)	 	Automatically upon the death of Executive.

	 	(b)	 	In the event of the Permanent Disability (as defined below) of Executive, at the option
of the Company by written notice to Executive or his personal representative. In the event
of such written notice, Executive’s employment with the Company shall terminate effective
on the 30th day after receipt of such notice to Executive. As used herein, the
term “Permanent Disability” shall mean a physical or mental incapacity or disability which
renders (or is reasonably expected to render) Executive unable to substantially render the
services required hereunder for an aggregate of ninety (90) days in any 365-day period, as
certified by either Executive’s attending physician or a licensed physician retained by the
Company for the purposes of making such determination. In the event of any disagreement
between Executive’s attending physician and such physician retained by the Company, the
matter shall be resolved by a third licensed physician selected jointly by Executive’s
physician and the Company’s physician.
	 
	 	(c)	 	At the option of the Company, by written notice to Executive upon the occurrence of any
one or more of the following events:

	 	(i)	 	any action by Executive constituting fraud, embezzlement or dishonesty in the
course of his employment hereunder;
	 
	 	(ii)	 	any conviction of Executive of a felony;
	 
	 	(iii)	 	insubordination by Executive in the performance of his duties hereunder; or
	 
	 	(iv)	 	a breach by Executive of any of his material obligations under this
Agreement, if such breach is not cured within 30 days after written notice thereof by
the Board to Executive.

-2-

 

	 	(v)	 	in the event Company determines it is in Company’s best interest to terminate
the employment of Executive, in which case Executive’s employment shall terminate 15
days after written notice thereof by the Board to Executive.
	 
	 	(d)	 	At the option of Executive, by written notice to the Company, for Good Reason. For the
purposes of this Agreement, “Good Reason” shall mean:

	 	(i)	 	the assignment to Executive of any duties materially inconsistent with
Executive’s position (including offices, titles and reporting requirement), authority,
duties or responsibilities as contemplated by Section 2 of this Agreement, unless such
assignment or action by the Company is cured by the Company within 30 days after
receipt of written notice thereof by Executive to the Company;
	 
	 	(ii)	 	any failure by the Company to comply with any of the provisions of Section 3
or 4 of this Agreement, if such failure is not cured within 15 days after written
notice thereof by Executive to the Company.

	 	(e)	 	At the option of Executive, in the event Executive determines it is in Executive’s best
interest to terminate employment with the Company, in which case Executive’s employment
shall terminate 15 days after written notice thereof by the Executive to the Board.

	6.	 	Effect of Termination.

	 	(a)	 	Upon the termination of Executive’s employment under Section 5(a), (b), (c)(v),
(d) and (e) herein, Executive or Executive’s estate or beneficiary, as the case may be,
shall be entitled to receive any amounts accrued or fully vested pursuant to Sections 3 or
4 (through the effective date of such termination) to the extent not theretofore paid.
	 
	 	(b)	 	Upon the termination of Executives employment under Section 5(c)(i-iv), effective
immediately upon such termination, Executive shall be entitled to no further compensation
of any sort, including but not limited to any accrued but unpaid benefits.
	 
	 	(c)	 	If the Company terminates the Executive’s employment pursuant to the provisions of
Section 5(a), 5(b) or 5(c)(i-iv) herein (i.e, for “good cause”) or if Executive terminates
employment pursuant to the provisions of Section 5(e), then Company shall not be obligated
to pay any severance benefit to Executive under this Agreement.
	 
	 	(d)	 	If the Company terminates the Executive’s employment pursuant to Section 5(c)(v)
herein (i.e., “without good cause”), or if Executive terminates his employment for “Good
Reason” pursuant to Section 5(d) herein, then:

	 	(i)	 	Company shall pay to the Executive a severance benefit equal to Executive’s
salary at the then current annual salary rate for a period equal to the product of (A)
the number of years of service of Executive with the Company (specifically including
those years of service rendered prior to the Effective Date) times (B) two (2) months.
For the purpose of determining the severance compensation pursuant to the above
provision, Executive’s hire date shall be March 16, 1998 and a year of service shall be
each twelve (12) month period of time (including the partial year underway at the time
of termination) in which Executive rendered 1000 hours or more of service. The Company
may elect to pay the severance benefit described herein either as one lump sum within
30 days of the notice of termination, or in a series of bi-weekly installments
beginning on the regularly scheduled payday of the

-3-

 

	 	 	 	Company which follows the effective date of such termination with the amount of each
such installment being equal to the Executive’s then current bi-weekly salary amount.

	 	(ii)	 	Company shall pay to the Executive an additional severance benefit equal to the
cost of extending the Executive’s health insurance coverage under the provisions of
COBRA for a period of eighteen (18) months, with such severance amount being paid in a
lump sum payment grossed up to cover the taxes that Executive is required to pay on
such benefit.
	 
	 	(iii)	 	All stock options theretofore granted to the Executive to purchase any equity shares of Company shall become immediately and fully vested and exercisable in
accordance with the terms of the Company’s stock option plans and grant awards.

	 	(e)	 	Upon termination of Executive’s employment for whatever reason:

	 	(i)	 	the Company shall be entitled to deduct from Executive’s final pay any amounts
owed to the Company by Executive at the time of such termination, and
	 
	 	(ii)	 	the Company shall be required to pay to Executive any outstanding amounts due
to Executive by the Company at the time of termination, including travel expenses,
loans and Company charges on personal credit cards. In addition, the Company shall be
responsible for all Company charges made on any Company Credit Card, or other Company
credit account, that is personally guaranteed by Executive.

	7.	 	Confidential Information. Executive agrees to, and hereby ratifies and confirms, the
terms of the Confidentiality/Non-Compete Agreement dated March 16, 1998.

	8.	 	Notices. Any and all notices or other communications required or permitted to be
given under any of the provisions of this Agreement shall be in writing and shall be deemed to
have been duly given when personally delivered or mailed by first class registered mail,
return receipt requested, or by commercial courier or delivery service, or by facsimile,
addressed to the parties at the addresses set forth below (or at such other address as any
party may specify by notice to all other parties given as aforesaid):

	 	(a)	 	if to the Company, to:

AbTech Industries, Inc.

4110 N. Scottsdale Road

Suite 235

Scottsdale, AZ 85251

Attn: Chief Financial Officer
	 
	 	(b)	 	if to Executive, to:

Mr. Lane J. Castleton

2727 E. Pegasus St.

Gilbert, AZ 85234

	 	 	and/or to such other persons and addresses as any party shall have specified in writing to the
other by notice as aforesaid.

	9.	 	Non-Exclusivity of Rights. Nothing in this Agreement shall prevent or limit
Executive’s continuing or future participation in any plan, program, policy or practice
provided by the Company and for which Executive may qualify, nor shall anything herein limit
or otherwise affect such rights as Executive may have under any contract or agreement with the
Company. Amounts which are vested benefits or which Executive is otherwise entitled to
receive under any plan, policy, practice or

-4-

 

	 	 	program of or any contract or agreement with the Company at or subsequent to the date of
termination shall be payable in accordance with such plan, policy, practice or program or
contract or agreement except as explicitly modified by this Agreement.

	10.	 	Full Settlement. The Company’s obligation to make the payments provided for in this
Agreement and otherwise to perform its obligations hereunder shall not be affected by any
set-off, counterclaim, recoupment, defense or other claim, right or action which the Company
may have against Executive or others.

	11.	 	Miscellaneous.

	 	(a)	 	This writing constitutes the entire agreement of the parties with respect to the
subject matter hereof and may not be modified, amended or terminated except by a written
agreement signed by all of the parties hereto.
	 
	 	(b)	 	This Agreement shall not be assignable by Executive, but it shall be binding upon, and
shall inure to the benefit of his heirs, executors, administrators and legal
representatives. The Agreement shall be binding upon and inure to the benefit of the
Company and its successors and assigns.
	 
	 	(c)	 	No waiver of any breach or default hereunder shall be considered valid unless in
writing, and no such waiver shall be deemed a waiver of any subsequent breach or default of
the same or similar nature.
	 
	 	(d)	 	If any provision of this Agreement shall be held invalid or unenforceable, such
invalidity or unenforceability shall attach only to such provision and shall not in any
manner affect or render invalid or unenforceable any other severable provision of this
Agreement, and this Agreement shall be carried out as if any such invalid or unenforceable
provision were not contained herein, unless the invalidity or unenforceability of such
provision substantially impairs the benefits of the remaining portions of this Agreement.
	 
	 	(e)	 	The section headings contained herein are for the purpose of convenience only and are
not intended to define or limit the contents of said sections.
	 
	 	(f)	 	This Agreement may be executed in two or more counterparts, all of which taken together
shall be deemed one original.
	 
	 	(g)	 	This Agreement shall be deemed to be a contract under the laws of the State of Arizona
and for all purposes shall be construed and enforced in accordance with the internal laws
of said state without regard to the principles of conflicts of law.
	 
	 	(h)	 	This Agreement shall not confer any rights or remedies upon any person or entity other
than the parties hereto and their respective successors and permitted assigns.
	 
	 	(i)	 	Each party hereby irrevocably consents to the sole and exclusive jurisdiction and venue
of the courts of the State of Arizona and of any Federal court located in the State of
Arizona in connection with any action or proceeding arising out of or relating to this
Agreement, or the breach thereof. Each party hereby irrevocably waives any objection,
including without limitation any objection to the laying of venue or based on the grounds
of forum non conveniens, which

-5-

 

	 	 	 	such party may now or hereafter have to the bringing of any action or proceeding in such
jurisdiction in respect of this Agreement.

ACCEPTED AND AGREED TO AS OF THIS 13th DAY OF MAY, 2009.

	 	 	 	 	 
	 	 	 
	 	BY:  	   /s/ Lane J. Castleton
 	 
	 	 	Executive - Lane J. Castleton 	 

	 	 	 	 	 
	 	BY: AbTech Industries, Inc.

 	 
	 	/s/ Jonathan Thatcher
 	 
	 	Jonathan Thatcher, 

Director and Chairman, 	 
	 	Compensation Committee 	 
	 
	 	 	 
	 	  /s/ Glenn R. Rink
 	 
	 	Glenn R. Rink, 

President, Chief Executive Officer 	 
	 	 	 

-6-exv10w4

Exhibit 10.4

INDEMNIFICATION AGREEMENT

     This Indemnification Agreement (this “Agreement”), dated as of February ____, 2011, is made by
and between Abtech Holdings, Inc. (formerly known as Laural Resources, Inc.), a Nevada corporation
(the “Company”), and the undersigned, who is either a director or an officer of the Company (the
“Indemnitee”), with this Agreement to be deemed effective as of the date that the Indemnitee first
became a director or an officer of the Company.

RECITALS

     A. The Company is aware that competent and experienced persons are reluctant to serve as
directors or officers of corporations unless they are protected by comprehensive liability
insurance and indemnification, due to the exposure to litigation costs and risks resulting from
their service to such corporations, and due to the fact that the exposure frequently bears no
reasonable relationship to the compensation of such directors and officers;

     B. The Board of Directors of the Company (the “Board”) has concluded that, to retain and
attract talented and experienced individuals to serve as officers or directors of the Company, it
is necessary for the Company contractually to indemnify certain of such persons and to assume for
itself maximum liability for expenses and damages in connection with claims against such persons in
connection with their service to the Company;

     C. Section 7502 of Chapter 78 of the Nevada General Corporation Law, under which the Company
is organized (“Section 7502”), empowers the Company to indemnify by agreement its present and
former officers and directors and persons who serve, at the request of the Company, as directors or
officers of other corporations, partnerships, joint ventures, trusts, or other enterprises and
expressly provides that the indemnification provided by Section 7502 is not exclusive; and

     D. The Company desires and has requested the Indemnitee to serve or continue to serve as a
director or an officer of the Company free from undue concern for claims for damages arising out of
or related to such services to the Company.

     NOW, THEREFORE, the parties hereto, intending to be legally bound, hereby agree as follows:

     1. Definitions

          1.1 Agent. For the purposes of this Agreement, “agent” of the Company means any person who is
or was a director or an officer of the Company or a subsidiary of the Company; or is or was serving
at the request of the Company or a subsidiary of the Company as a director or an officer of another
foreign or domestic corporation, partnership, joint venture, trust, or other enterprise or an
affiliate of the Company. The term “enterprise” includes any employee benefit plan of the Company,
its subsidiaries, affiliates, and predecessor corporations.

          1.2 Company. For purposes of this Agreement, the “Company” includes, in addition to the
resulting corporation, any constituent corporation (including any constituent of a constituent)
absorbed in a consolidation or merger that, if its separate existence had continued,

 

 

would have had power and authority to indemnify its directors or officers so that any person
who is or was a director or an officer of such constituent corporation, or is or was serving at the
request of such constituent corporation as a director or an officer of another corporation,
partnership, joint venture, trust, or other enterprise, shall stand in the same position under this
Agreement with respect to the resulting or surviving corporation as such person would have with
respect to such constituent corporation if its separate existence had continued.

          1.3 Expenses. For the purposes of this Agreement, “expenses” includes all direct and indirect
costs of any type or nature whatsoever (including, without limitation, all attorneys’ fees and
related disbursements and other out-of-pocket costs) actually and reasonably incurred by the
Indemnitee in connection with the investigation, defense, or appeal of a proceeding or establishing
or enforcing a right to indemnification or advancement of expenses under this Agreement, Section
7502 or otherwise; provided, however, that expenses shall not include any
judgments, fines, ERISA excise taxes or penalties, or amounts paid in settlement of a proceeding.

          1.4 Fines. For purposes of this Agreement, references to “fines” includes any excise taxes
assessed on a person with respect to any employee benefit plan.

          1.5 Liabilities. For purposes of this Agreement, “liabilities” means judgments, fines, ERISA
execute taxes or penalties, and amounts paid in settlement in connection with a proceeding.

          1.6 Other Enterprises. For purposes of this Agreement, “other enterprises” includes employee
benefit plans.

          1.7 Proceeding. For the purposes of this Agreement, “proceeding” means any threatened,
pending, or completed action, suit, or other proceeding, whether civil, criminal, administrative,
or investigative.

          1.8 Subsidiary. For purposes of this Agreement, “subsidiary” means any corporation of which
more than 50% of the outstanding voting securities is owned directly or indirectly by the Company,
by the Company and one or more of its subsidiaries, or by one or more of the Company’s
subsidiaries.

          1.9 Serving at the Request of the Company. For purposes of this Agreement, “serving at the
request of the Company” includes any service as a director or an officer of the Company that
imposes duties on, or involves services by, such director or officer with respect to an employee
benefit plan, its participants or beneficiaries; and a person who acted in good faith and in a
manner such person reasonably believed to be in the interest of the participants and beneficiaries
of an employee benefit plan shall be deemed to have acted in a manner “not opposed to the best
interests of the Company” as referred to in this Agreement.

     2. Agreement to Serve . The Indemnitee agrees to serve and/or continue to serve as an agent of the Company, at the
will of the Company (or under separate agreement, if such agreement exists), in the capacity the
Indemnitee currently serves as an agent of the Company, faithfully and to the best of his ability,
so long as he is duly appointed or elected and qualified in accordance with the applicable
provisions of the charter documents of the Company or any

2

 

subsidiary of the Company; provided, however, that the Indemnitee may at any
time and for any reason resign from such position (subject to any contractual obligation that the
Indemnitee may have assumed apart from this Agreement), and the Company and any subsidiary shall
have no obligation under this Agreement to continue the Indemnitee in any such position.

     3. Directors’ and Officers’ Insurance. The Company shall, to the extent that the Board determines it to be economically
reasonable, maintain a policy of directors’ and officers’ liability insurance (“D&O Insurance”), on
such terms and conditions as may be approved by the Board.

     4. Mandatory Indemnification. Subject to Section 9 below, the Company shall indemnify the Indemnitee:

          4.1 Third-Party Actions. If the Indemnitee is a person who was or is a party or is threatened
to be made a party to any proceeding (except an action by or in the right of the Company) by reason
of the fact that the Indemnitee is or was an agent of the Company, or by reason of anything done or
not done by the Indemnitee in any such capacity, against any and all expenses and liabilities of
any type whatsoever incurred by the Indemnitee in connection with such proceeding if (a) the
Indemnitee acted in good faith and in a manner the Indemnitee reasonably believed to be in, or not
opposed to, the best interests of the Company and, with respect to any criminal action or
proceeding, had no reasonable cause to believe the Indemnitee’s conduct was unlawful, or (b) the
Indemnitee, if a director or an officer of the Company, did not act or fail to act in a manner that
constituted a breach of the Indemnitee’s fiduciary duties as a director or an officer or such
Indemnitee’s breach of those duties did not involve intentional misconduct, fraud, or a knowing
violation of law; and

          4.2 Derivative Actions. If the Indemnitee is a person who was or is a party or is threatened
to be made a party to any proceeding by or in the right of the Company to procure a judgment in its
favor by reason of the fact that the Indemnitee is or was an agent of the Company, or by reason of
anything done or not done by the Indemnitee in any such capacity, against any and all expenses and
liabilities incurred by the Indemnitee in connection with such proceeding if (a) the Indemnitee
acted in good faith and in a manner the Indemnitee reasonably believed to be in, or not opposed to,
the best interests of the Company, or (b) the Indemnitee, if a director or an officer of the
Company, did not act or fail to act in a manner that constituted a breach of the Indemnitee’s
fiduciary duties as a director or an officer or such Indemnitee breach of those duties involved
intentional misconduct, fraud, or a knowing violation of law; except that no
indemnification under this subsection shall be made in respect of any claim, issue, or matter as to
which the Indemnitee shall have been adjudged by a court of competent jurisdiction, after the
exhaustion of all appeals thereform, to be liable to the Company or for amounts paid in settlement
to the Company, unless and only to the extent that the court in which such proceeding was brought
or another court of competent jurisdiction determines upon application that, in view of all the
circumstances of the case, the Indemnitee is fairly and reasonable entitled to indemnity for such
expenses as the court deems proper; and

          4.3 Exception for Amounts Covered by Insurance. Notwithstanding the foregoing, the Company
shall not be obligated to indemnify the Indemnitee for expenses or liabilities of any type
whatsoever (including, but not limited to, judgments, fines, ERISA excise

3

 

taxes or penalties, and amounts paid in settlement) to the extent such have been paid to the
Indemnitee by D&O Insurance.

     5. Partial Indemnification and Contribution.

          5.1 Partial Indemnification. If the Indemnitee is entitled under any provision of this
Agreement to indemnification by the Company for some or a portion of any expenses or liabilities of
any type whatsoever incurred by the Indemnitee in connection with a proceeding but is not entitled,
however, to indemnification for all of the total amount thereof, then the Company shall
nevertheless indemnify the Indemnitee for such total amount except as to the portion thereof to
which the Indemnitee is not entitled to indemnification.

          5.2 Contribution. If the Indemnitee is not entitled to the indemnification provided in
Section 4 for any reason other than the statutory limitations set forth in the Nevada General
Corporation Law, then in respect of proceeding in which the Company is jointly liable with the
Indemnitee (or would be if joined in such proceeding), the Company shall contribute to the amount
of expenses and liabilities paid or payable by the Indemnitee in such proportion as is appropriate
to reflect (a) the relative benefits received by the Company on the one hand and the Indemnitee on
the other hand from the transaction from which such proceeding arose and (b) the relative fault of
the Company on the one hand and of the Indemnitee on the other hand in connection with the events
that resulted in such expenses, as well as any other relevant equitable considerations. The
relative fault of the Company on the one hand and of the Indemnitee on the other hand shall be
determined by reference to, among other things, the parties’ relative intent, knowledge, access to
information, and opportunity to correct or prevent the circumstances resulting in such expenses,
judgments, fines, or settlement amounts. The Company agrees that it would not be just and
equitable if contribution pursuant to this Section 5 were determined by pro rata allocation or any
other method of allocation which does not take account of the foregoing equitable considerations.

     6. Mandatory Advancement of Expenses.

          6.1 Advancement. Subject to Section 9 below, the Company shall pay as incurred and in advance
of the final disposition of a civil or criminal proceeding all expenses incurred by the Indemnitee
in connection with defending any such proceeding to which the Indemnitee is a party or is
threatened to be made a party by reason of the fact that the Indemnitee is or was an agent of the
Company or by reason of anything done or not done by the Indemnitee in any such capacity. The
Indemnitee hereby undertakes to promptly repay such amounts advanced only if, and to the extent
that, it shall ultimately by determined that the Indemnitee is not entitled to be indemnified by
the Company under the provisions of this Agreement, the Articles of Incorporation or Bylaws of the
Company, the Nevada General Corporation Law, or otherwise. The advances to be made hereunder shall
be paid by the Company to the Indemnitee within thirty (30) days following delivery of a written
request therefor by the Indemnitee to the Company.

          6.2 Exception. Notwithstanding the foregoing provisions of this Section 6, the Company shall
not be obligated to advance any expenses to the Indemnitee arising from a lawsuit filed directly by
the Company against the Indemnitee if an absolute majority of the

4

 

members of the Board reasonably determines in good faith, within thirty (30) days of the
Indemnitee’s request to be advanced expenses, that the facts known to them at the time such
determination is made demonstrate clearly and convincingly that the Indemnitee acted in bad faith.
If such a determination is made, the Indemnitee may have such decision reviewed in the manner set
forth in Section 8.5 hereof, with all references therein to “indemnification” being deemed to refer
to “advancement of expenses,” and the burden of proof shall be on the Company to demonstrate
clearly and convincingly that, based on the facts known at the time, the Indemnitee acted in bad
faith. The Company may not avail itself of this Section 6.2 as to a given lawsuit if, at any time
after the occurrence of the activities or omissions that are the primary focus of the lawsuit, the
Company has undergone a change in control. For this purpose, a “change in control” shall mean a
given person of group of affiliated persons or groups increasing their beneficial ownership
interest in the Company by at least twenty (20) percentage points without advance Board approval.

     7. Notice and Other Indemnification Procedures.

          7.1 Notification. Promptly after receipt by the Indemnitee of notice of the commencement of
or the threat of commencement of any proceeding, the Indemnitee shall, if the Indemnitee believes
that indemnification with respect thereto may be sought from the Company under this Agreement,
notify the Company of the commencement or threat of commencement thereof.

          7.2 Insurance. If, at the time of the receipt of a notice of the commencement of a proceeding
pursuant to Section 7.1 hereof, the Company has D&O Insurance in effect, the Company shall give
prompt notice of the commencement of such proceeding to the insurers in accordance with the
procedures set forth in the respective policies. The Company shall thereafter take all necessary
or desirable action to cause such insurers to pay, on behalf of the Indemnitee, all amounts payable
as a result of such proceeding in accordance with the terms of such D&O Insurance policies.

          7.3 Defense. In the event the Company shall be obligated to advance the expenses for any
proceeding against the Indemnitee, the Company, if appropriate, shall be entitled to assume the
defense of such proceeding, with counsel approved by the Indemnitee (which approval shall not be
unreasonably withheld), upon the delivery to the Indemnitee of written notice of its election to do
so. After delivery of such notice, approval of such counsel by the Indemnitee and the retention of
such counsel by the Company, the Company will not be liable to the Indemnitee under this Agreement
for any fees of counsel subsequently incurred by the Indemnitee with respect to the same
proceeding, provided that (a) the Indemnitee shall have the right to employ the
Indemnitee’s own counsel in any such proceeding at the Indemnitee’s expense; (b) the Indemnitee
shall have the right to employ the Indemnitee’s own counsel in connection with any such proceeding,
at the expense of the Company, if such counsel serves in a review, observer, advice, and counseling
capacity and does not otherwise materially control or participate in the defense of such
proceeding; and (c) if (i) the employment of counsel by the Indemnitee has been previously
authorized by the Company, (ii) the Indemnitee shall have reasonably concluded that there may be
conflict of interest between the Company and the Indemnitee in the conduct of any such defense, or
(iii) the Company shall not, in fact, have

5

 

employed counsel to assume the defense of such proceeding, then the fees and expenses of the
Indemnitee’s counsel shall be at the expense of the Company.

     8. Determination of Right to Indemnification.

          8.1 Success on Merits. To the extent the Indemnitee has been successful on the merits or
otherwise in defense of any proceeding referred to in Section 4.1 or 4.2 of this Agreement or in
the defense of any claim, issue, or matter described therein, the Company shall indemnify the
Indemnitee against expenses actually and reasonably incurred by the Indemnitee in connection with
the investigation, defense, or appeal of such proceeding, or such claim, issue, or matter, as the
case may be.

          8.2 Proof by Company. In the event that Section 8.1 is inapplicable, or does not apply to the
entire proceeding, the Company shall nonetheless indemnify the Indemnitee unless the Company shall
prove by clear and convincing evidence to a forum listed in Section 8.4 below that the Indemnitee
has not met the applicable standard of conduct required to entitle the Indemnitee to such
indemnification.

          8.3 Termination of Proceeding. The termination of any proceeding by judgment, order,
settlement, conviction, or upon a plea of nolo contendere its equivalent, does not, of itself,
create a presumption that a person (a) did not act in good faith and in a manner the person
reasonably believed to be in or not opposed to the best interests of the Company, (b) with respect
to any criminal action or proceeding, that the person had reasonable cause to believe that the
person’s conduct was unlawful, or (c) the person’s act or failure to act constituted a breach of
the person’s fiduciary duties as a director or an officer or the person’s breach of those duties
involved intentional misconduct, fraud, or a knowing violation of law.

          8.4 Applicable Forums. The Indemnitee shall be entitled to select the forum in which the
validity of the Company’s claim under Section 8.2 hereof that the Indemnitee is not entitled to
indemnification will be heard from among the following, except that the Indemnitee can
select a forum consisting of the stockholders of the Company only with the approval of the Company
and, if the Indemnitee is a director or an officer at the time of such determination, the
determination shall be made in accordance with (a), (b), (c) or (d) below at the election of the
Company:

               (a) A majority vote of the directors who are not parties to the proceeding for which
indemnification is being sought even though less than a quorum;

               (b) By a committee of directors who are not parties to the proceeding for which
indemnification is being sought designated by a majority vote of such directors, even though less
than a quorum;

               (c) If there are no directors who are not parties to the proceeding for which indemnification
is sought, or if such directors so direct, by independent legal counsel in a written opinion;

               (d) The stockholders of the Company;

6

 

               (e) A panel of three arbitrators, one of whom is selected by the Company, another of whom is
selected by the Indemnitee and the last of whom is selected by the first two arbitrators so
selected; or

               (f) A court having jurisdiction of subject matter and the parties.

          8.5 Submission. As soon as practicable, and in no event later than thirty (30) days after the
forum has been selected pursuant to Section 8.4 above, the Company shall, at its own expense,
submit to the selected forum its claim that the Indemnitee is not entitled to indemnification, and
the Company shall act in the utmost good faith to assure the Indemnitee a complete opportunity to
defend against such claim.

          8.6 Appeals. If the forum selected in accordance with Section 8.4 hereof is not a court, then
after the final decision of such forum is rendered, the Company or the Indemnitee shall have the
right to apply to a court of Nevada, the court in which the proceeding giving rise to the
Indemnitee’s claim for indemnification is or was pending, or any other court of competent
jurisdiction, for the purpose of appealing the decision of such forum, provided that such
right is executed within sixty (60) days after the final decision of such forum is rendered. If
the forum selected in accordance with Section 8.4 hereof is a court, then the rights of the Company
or the Indemnitee to appeal any decision of such court shall be governed by the applicable laws and
rules governing appeals of the decision of such court.

          8.7 Expenses for Interpretation. Notwithstanding any other provision in this Agreement to the
contrary, the Company shall indemnify the Indemnitee against all expenses incurred by the
Indemnitee in connection with any hearing or proceeding under this Section 8 involving the
Indemnitee and against all expenses incurred by the Indemnitee in connection with any other
proceeding between the Company and the Indemnitee involving the interpretation or enforcement of
the rights of the Indemnitee under this Agreement unless a court of competent jurisdiction finds
that each of the material claims and/or defenses of the Indemnitee in any such proceeding was
frivolous or not made in good faith.

     9. Exceptions. Any other provision herein to the contrary notwithstanding, the Company shall not be
obligated pursuant to the terms of this Agreement in the following circumstances:

          9.1 Claims Initiated by Indemnitee. To indemnify or advance expenses to the Indemnitee with
respect to proceedings or claims initiated or brought voluntarily by the Indemnitee and not by way
of defense, except with respect to proceedings specifically authorized by the Board or
brought to establish or enforce a right to indemnification and/or advancement of expenses arising
under this Agreement, the charter documents of the Company or any subsidiary, or any statute or law
or otherwise, but such indemnification or advancement of expenses may be provided by the Company in
specific cases if the Board finds it to be appropriate; or

          9.2 Unauthorized Settlements. To indemnify the Indemnitee hereunder for any amounts paid in
settlement of a proceeding unless the Company consents in advance in writing to such settlement,
which consent shall not be unreasonably withheld; or

7

 

          9.3 Securities Law Actions. To indemnify the Indemnitee on account of any suit in which
judgment is rendered against the Indemnitee for an accounting of profits made from the purchase or
sale by the Indemnitee of securities of the company pursuant to the provisions of Section 16(b) of
the Securities Exchange Act of 1934 and amendments thereto or similar provisions of any federal,
state, or local statutory law; or

          9.4 Unlawful Indemnification. To indemnify the Indemnitee if a final decision by a court
having jurisdiction in the mater shall determine that such indemnification is not lawful. In this
respect, the Company and the Indemnitee have been advised that the Securities and Exchange
Commission takes the position that indemnification for liabilities arising under the federal
securities laws is against public policy and is, therefore, unenforceable and that claims for
indemnification should be submitted to appropriate courts for adjudication.

     10. Non-Exclusivity. The provisions for indemnification and advancement of expenses set forth in this Agreement
shall not be deemed exclusive of any other rights that the Indemnitee may have under any provision
of law, the Company’s Certificate of Incorporation or Bylaws, the vote of the Company’s
stockholders or disinterested directors, other agreements, or otherwise, both as to action in the
Indemnitee’s official capacity and to action in another capacity while occupying the Indemnitee’s
position as an agent of the Company, and the Indemnitee’s rights hereunder shall continue after the
Indemnitee has ceased acting as an agent of the Company and shall inure to the benefit of the
heirs, executors, and administrators of the Indemnitee.

     11. General Provisions.

          11.1 Interpretation of Agreement. It is understood that the parties hereto intend this
Agreement to be interpreted and enforced so as to provide indemnification and advancement of
expenses to the Indemnitee to the fullest extent now or hereafter permitted by law, except as
expressly limited herein.

          11.2 Severability. If any provision or provisions of this Agreement shall be held to be
invalid, illegal, or unenforceable for any reason whatsoever, then: (a) the validity, legality, and
enforceability of the remaining provisions of this Agreement (including, without limitation, all
portions of any paragraphs of this Agreement containing any such provision held to be invalid,
illegal, or unenforceable that are not themselves invalid, illegal, or unenforceable) shall not in
any way be affected or impaired thereby; and (b) to the fullest extent possible, the provisions of
this Agreement (including, without limitation, all portions of any paragraphs of this Agreement
containing any such provision held to be invalid, illegal, or unenforceable, that are not
themselves invalid, illegal, or unenforceable) shall be construed so as to give effect to the
intent manifested by the provision held invalid, illegal, or unenforceable and to give effect to
Section 11.1 hereof.

          11.3 Modification and Waiver. No supplement, modification, or amendment of this Agreement
shall be binding unless executed in writing by the parties hereto. No waiver of any of the
provisions of this Agreement shall be deemed or shall constitute a waiver of any other provision
hereof (whether or not similar), nor shall such waiver constitute a continuing waiver.

8

 

          11.4 Subrogation. In the even of full payment under this Agreement, the Company shall be
subrogated to the extent of such payment to all of the rights of recovery of the Indemnitee, who
shall execute all documents required and shall do all acts that may be necessary or desirable to
secure such rights and to enable the Company effectively to bring suit to enforce such rights.

          11.5 Counterparts. This Agreement may be executed in one or more counterparts, which shall
together constitute one agreement.

          11.6 Successors and Assigns. The terms of this Agreement shall bind, and shall inure to the
benefit of, the successors and assigns of the parties hereto. The indemnification and advancement
of expenses provided by, or granted pursuant to, this section shall, unless otherwise provided when
authorized or ratified, continue as to a person who has ceased to be a director or an officer and
shall inure to the benefit of the heirs, executors, and administrators of such a person.

          11.7 Notice. All notices, requests, demands, and other communications under this Agreement
shall be in writing and shall be deemed duly given if (a) delivered by hand and receipted for by
the party addressee, or (b) mailed by certified or registered mail, with postage prepaid, on the
third business day after the mailing date. Addresses for notice to either party are as shown on
the signature page of this Agreement or as subsequently modified by written notice.

          11.8 Governing Law. This Agreement shall be governed exclusively by and construed according
to the laws of the state of Nevada, as applied to contracts between Nevada residents entered into
and to be performed entirely within Nevada .

          11.9 Consent to Jurisdiction. The Company and the Indemnitee each hereby irrevocably consent
to the jurisdiction of the courts of the state of Nevada for all purposes in connection with any
action or proceeding which arises out of or relates to this Agreement.

          11.10 Attorneys’ Fees. In the event Indemnitee is required to bring any action to enforce
rights under this Agreement (including, without limitation, the expenses of any proceeding
described in Section 4), the Indemnitee shall be entitled to all reasonable fees and expenses in
bringing and pursuing such action, unless a court of competent jurisdiction finds each of the
material claims of the Indemnitee in any such action was frivolous and not made in good faith.

9

 

     IN WITNESS WHEREOF, the parties hereto have entered into this Indemnification Agreement
effective as of the date first written above.

	 	 	 	 	 
	 

	 	ABTECH HOLDINGS, INC.
	 	INDEMNITEE:
	 
	 	 	 	 
	By:
	 	 	 	 
	 

	 	 
	 	 
	Title:

	 	President and CEO	 	 
	 

	 	 	 	 
	 

	 	 	 	(Print Name)

10

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00184-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00184-of-00352.parquet"}]]