Document:

Exhibit 10.8

 

June 29, 2009

 

Mr. Nick Gagliardi

2281 Cambridge Avenue

Cardiff by the Sea, CA  92007

 

Dear Nick:

 

Following your recent discussion with Mark Hall, I set out below
our employment offer (the “Agreement) to you for the position of Chief Operating
Officer of the Monster Beverage Division of Hansen Beverage Company (“Hansen”
or the “Company”):

 

1.                                       Total
Compensation.

 

	
  1.1  Basic Salary:

  	
   

  	
  $9807.70 paid bi-weekly. (Annualized to $255,000 for information
  only).

  

 

1.2 Dislocation
Allowance:    $769.23 paid bi-weekly.  (Annualized to $20,000.00 for information
only.

 

	
  1.3  Auto Allowance:

  	
   

  	
  $700.00 per month. (Annualized to $8,400 for information only.)

  
	
   

  	
   

  	
   

  
	
  1.4 Gas Allowance:

  	
   

  	
  Reimbursement of costs.

  

 

1.5  Medical/Dental:              Employee and family will be fully covered by the
Company in accordance with the rules and procedures set forth in the
Company’s Employee Handbook and in the Group Insurance Plan documents.  This includes medical insurance, dental
insurance, life insurance, vision insurance and long term disability
insurance.  Medical/Dental eligibility is
effective the first day of the month following 30 days from the date of hire as
a full-time employee. The Company offers a supplemental insurance plan offering
cancer insurance, short-term disability insurance and ADD insurance which the
employee may subscribe to at his election.

 

	
  1.6  401(k) Plan:

  	
   

  	
  The Company has a 401(k) Plan. 
  The Company contributes 25% of your contributions towards the Plan,
  subject to a maximum of 8% of your salary. 
  You will be eligible to participate in the Plan from the first entry
  date that occurs after you have completed three (3) months’
  service.  Entry dates are January 1
  and July 1.

  

 

 

	
  1.7 Expenses:

  	
   

  	
  Expense reports are submitted weekly. All business-related expenses
  are to be documented according to the Internal Revenue Service guidelines and
  in accordance with the Company’s policy on such expenditures.

  
	
   

  	
   

  	
   

  
	
  1.8 Vacation:

  	
   

  	
  You will receive 0.3288 hours of vacation for every calendar day of
  employment (annualized to 3 weeks for information only).  Except upon termination of employment, the
  Company does not compensate employees in lieu of leave due.  Vacation may not be taken before expiration
  of six (6) months’ employment.

  
	
   

  	
   

  	
   

  
	
  1.9 Stock Option:

  	
   

  	
  60,000 shares.  Grant date shall
  be the first day that the Nasdaq Stock Market is open in the calendar month
  following the commencement date of employment.  Vesting commences on the first anniversary
  of the Grant Date at the rate of 20% of the number of shares subject to the
  Option per year, for five (5) years. 
  Exercise price shall be determined according to the Fair Market Value
  of the stock on the Grant Date (as defined in the Plan i.e. the closing price
  on the Grant Date).  Terms to be in
  accordance with Company Stock Option Plan and written Stock Option Agreement
  to be signed in due course.   In
  respect of the aforegoing, it is recorded that if, following a change of
  control of the Company, the new controlling shareholders terminate your  employment without cause within one (1) year
  after such change of control has occurred, all of the options not yet
  exercisable by you pursuant to the Option Agreement contemplated in this
  Paragraph 1.9 shall immediately become exercisable by you in full upon such
  termination on the terms and conditions otherwise provided for in the option
  agreement governing such options.

  
	
   

  	
   

  	
   

  
	
  1.10 Bonus:

  	
   

  	
  Annually — up to 50% of salary plus dislocation allowance.  Bonuses will be based on your individual
  performance and the results achieved in your respective areas relative to
  your individual goals and objectives. 
  However, the Company reserves the right to award bonuses in excess of
  50% of salary and dislocation allowance for extraordinary effort and
  performance, at its sole discretion. Input from your immediate superiors may
  be taken into account in such evaluation.

  
	
   

  	
   

  	
   

  
	
  1.11 Relocation:

  	
   

  	
  If you relocate to a residence near the office, the Company will pay
  the moving costs incurred by you to ship your household goods to Orange
  County by a recognized moving firm.  Moving costs do not include any storage
  costs.  We will require receipts for
  all costs incurred.

  
	
   

  	
   

  	
   

  
	
  1.12 Insurability:

  	
   

  	
  As a condition of your employment you may be required to drive a
  Company vehicle.  If so, you must be
  able to meet the insurance requirements of the Company’s insurance carrier,
  which involves the 

  

 

2

 

	
   

  	
   

  	
  following stipulations.  During
  the course of your employment your driving record will be checked
  periodically.  You agree to report any
  traffic violation or accident you are involved in, of any kind and regardless
  of whether it was work related, to the Company as soon as possible after the
  violation or accident occurred.  If you
  become uninsurable with the Company’s insurance carrier, your employment may
  be terminated at any time thereafter by the Company with or without notice.

  

 

2.                                       Termination.

 

2.1  At-Will Employment:  It is to be understood that your employment
with the Company is of an at-will nature, for no specified period of time.  Regardless of the length of service, you are
free to terminate your employment at any time, for any reason, although your
giving one (1) month’s notice is always appreciated.  Likewise, the Company is free to terminate
your employment at any time, for any reason, with or without cause and with or
without advance notice.  The Company
makes no guarantee or contract of continued employment.  No one may change the at-will nature of your
employment, except in writing and signed by either the Chairman or President of
the Company.

 

2.2  Termination Without Cause:                    If your employment is
terminated without cause within the first six (6) months after
commencement of employment, you will receive three (3) months severance
pay.  If your employment is terminated
without cause between seven (7) and twelve (12) months after commencement
of your employment, you will receive two (2) months severance pay.  Thereafter, if your employment is terminated
without cause you will receive one (1) month severance pay.  All severance payments are subject to:  (1) appropriate payroll and tax
deductions as required by law; (2) your compliance with all other terms
and conditions of this Agreement; and (3) your execution of a reasonable
and standard severance agreement (which will include, among other things, a
general release of all claims by you against the Company, its Agents and
Affiliates).

 

2.3  Termination With Cause:                                      If the Company
terminates your employment for “Good Cause”, or if you terminate your
employment for any reason, the Company is not obligated to pay severance.  As noted previously, although you are not
obligated to give advance notice, two (2) weeks notice of a resignation is
always appreciated.  For the purposes of
this Agreement, the term “Good Cause” shall include:

 

2.3.1                        Your neglect, breach of
duty, or any failure by you to perform, to the reasonable satisfaction of your
supervisor and/or the Executive Committee of the Board of the Company;

 

2.3.2                        Your conviction
of a felony, or any determination by the Executive Committee of the Board of
the commission of theft, larceny, embezzlement, fraud, dishonesty, illegality,
moral turpitude, harassment, or gross mismanagement;

 

2.3.3                        Your death or material
disability to such an extent that you, even with reasonable accommodation, are
precluded from performing the essential duties of your position; or

 

2.3.4                        Your breach of
this Agreement or any fiduciary duties to the Company.

 

3

 

3.                                       Proprietary
Information, Confidentiality, Intellectual Property and Non-Solicitation.

 

You agree that all the terms
and conditions contained in the Employee Proprietary Information,
Confidentiality, Intellectual Property and Non-Solicitation Agreement
attached hereto as Exhibit A are incorporated herein and shall be binding
upon you.  Please note that you are
required to separately sign the attached Exhibit A at the same time as you
sign this Agreement.

 

4.                                       Arbitration of
Disputes/Litigation.

 

4.1         Any controversy or claim
arising out of or relating to this Agreement or the breach thereof or any
agreement entered into between the Company and you or otherwise arising out of
your employment or the termination of that employment (including without
implication of limitation any claims of unlawful employment discrimination
whether based on age or otherwise), defamation, invasion of privacy, infliction
of emotional distress, unlawful harassment, including similar claims such as,
without limitation, claims arising under the California Fair Employment and
Housing Act, the Americans with Disabilities Act, Title VII of the Civil Rights
Act of 1964, the Age Discrimination in Employment Act, the California Labor
Code and Equal Pay Act, the Rehabilitation Act of 1974, the Employee Retirement
Income and Security Act and any and all other contractual, tort, legal,
equitable and statutory claims that may be lawfully submitted to arbitration,
either by or against the Company shall, to the fullest extent permitted by law,
be settled by binding arbitration conducted by JAMs/Endispute (“JAMS”) in
accordance with JAMS Comprehensive Arbitration Rules and Procedures (the “Rules”)
applicable to employment disputes, in Orange County, California.  Except as expressly allowed by the Statutory
Claims as defined below, the arbitrator shall have no authority to award
punitive or exemplary damages or any other amount for the purpose of imposing a
penalty.  Judgment upon the award
rendered by the arbitrator may be entered in any court having jurisdiction.

 

4.2         For any claims brought under
the California Fair Employment and Housing Act, Title VII of the Civil Rights
Act of 1964, or any other local, state or federal statues (“Statutory Claims”)  (a)  the substantive and remedial
provisions applicable to the Statutory Claims shall be available to any party
required to arbitrate Statutory Claims under this Agreement;  (b) if the Rules do not already
provide, either party submitting a Statutory Claim to arbitration shall be
entitled to the full range of discovery provided under California Code of Civil
Procedure section 1283.05;  (c) you
shall not be required to pay unreasonable costs or any of the arbitrator’s fees
or expenses; and (d) if applicable, the arbitrator must issue a written
report setting forth the essential findings and conclusions on which any award
is based.

 

4.3                                 Notwithstanding
the foregoing, these provisions shall not preclude either party from pursuing a
court action for the sole purpose of obtaining a temporary restraining order or
a preliminary injunction in circumstances in which such relief is appropriate,
provided that any other relief shall be pursued through an arbitration
proceeding pursuant to this Agreement.

 

4.4                                 Without in any
way detracting from the intent and obligation of the Company and you to
arbitrate all disputes and controversies between them in accordance with the
above provisions, in the event that any controversy or claim is determined in a
court of law, both you and the Company hereby irrevocably waive any and all
rights to trial by jury in any legal proceeding arising out of or relating to
this Agreement, the breach thereof or the employee’s employment or other
business relationship.  Except as
otherwise required by law, both you and the Company hereby specifically waive
any claims for punitive or exemplary damages or for any other amounts awarded
for the purposes of imposing a penalty.

 

4

 

Make sure you have read and
understand the foregoing.  You agree to
waive the right to a jury and instead submit disputes arising out of or related
to this agreement or your employment to neutral, binding arbitration.  You may want to consult with an attorney
before signing this agreement.                                                                                                                                                                                                                                                                                   INITIALS:
   NG               

 

5.                                                       General.

 

You agree that except as
otherwise set forth in this Agreement, all remaining terms and conditions of
your employment shall be in accordance with and subject to the Company’s
current Employee Handbook, which describes your responsibilities as well as
various benefits to which you may be entitled. 
You will be required to acknowledge receipt of the Company’s Employee
Handbook and sign other documents related to your employment before you begin
work.  You are also required to sign the
Company’s Proprietary Information and Non-solicitation Agreement as well as
acknowledge and acquaint yourself with the Company’s Injury and Illness
Prevention Program.

 

We look forward to your joining the Company.  Please sign a copy of this letter to
acknowledge your acceptance of this Agreement with all of the terms contained
herein and return it to our Human Resources Department.  Your employment will commence as soon as
possible.

 

Yours sincerely,

 

	
  /s/ Hilton H. Schlosberg

  	
   

  
	
  Hilton H. Schlosberg

  
	
  Vice Chairman of the Board

  

 

HHS:lhs

 

	
  Accepted and Agreed:

  	
  /s/Nick Gagliardi

  	
   

  	
  6/30/2009

  
	
   

  	
  Nick Gagliardi

  	
   

  	
  Date

  

 

5

 

EXHIBIT “A”

EMPLOYEE PROPRIETARY INFORMATION,

CONFIDENTIALITY, INTELLECTUAL
PROPERTY AND

NON-SOLICITATION AGREEMENT

 

Hansen Beverage Company, a Delaware corporation (“Company”) agrees to
employ, or continue to employ, as the case may be, the undersigned employee (“Employee”)
in reliance upon the agreement of the undersigned to execute and deliver this
Agreement.  In consideration for such
employment, Employee agrees as follows:

 

1.                                       Proprietary
Information Defined. 
During the term of Employee’s employment with Company, Employee has
and/or will have access to and become acquainted with Company’s confidential
and proprietary information (collectively, “Proprietary Information”).  For the purposes of this Agreement,
Proprietary Information means any: information, observation, data, written
material, record, document, computer program, software, firmware, invention,
discovery, improvement, development, tool, machine, apparatus, appliance,
design, promotional idea, customer and supplier lists, potential customers,
customer preferences, customer contacts, customer presentations, customer
habits, special relationships, marketing information or strategies, practice,
process, formula, method, technique, art work, design, drawing, photograph,
concept, idea, trade secret, product and/or research related to or arising out
of the actual or anticipated research, development, products, organization,
business or finances, of the Company or its Affiliates.  Although Proprietary Information may not be
confidential if the information is (a) disclosed publicly in published
materials or (b) generally known in the industry, it remains an asset of
and proprietary to the Company.

 

2.                                       Ownership.  All right, title and interest of every kind
and nature in and to the Proprietary Information conceived, created, made,
discussed, developed, secured, obtained or learned by Employee during the term
of this Agreement shall be the sole and exclusive property of Company for all
purposes or uses, and shall be disclosed promptly by Employee to Company. The
covenants set forth in the preceding sentence shall apply regardless of whether
any Proprietary Information is made, discovered, developed, secured, obtained
or learned (a) solely or jointly with others, (b) during the usual
hours of work or otherwise, (c) at the request and upon the suggestion of
Company or otherwise, or (d) with Company’s materials, tools, instruments
or on Company’s premises or otherwise. 
All Proprietary Information developed, created, invented, devised,
conceived or discovered by Employee that is subject to copyright protection is
explicitly considered by Employee and Company to be works made for hire to the
extent permitted by law.  Employee hereby
assigns to Company all of Employee’s right, title and interest in and to the
Proprietary Information.

 

3.                                       Assistance.  Employee shall execute any documents and take
any action Company may deem reasonably necessary or appropriate to effectuate
the provisions of this Agreement, including assisting Company in obtaining and
maintaining patents, copyrights or similar rights to any Proprietary
Information assigned to Company. 
Employee shall comply with all reasonable rules established by
Company for the protection of the confidentiality of any Proprietary
Information.  Employee irrevocably
appoints each officer of Company to act as Employee’s agent and
attorney-in-fact to perform all acts necessary to obtain or maintain patents,
copyrights and similar rights to any Proprietary Information assigned by
Employee to Company under this Agreement if (a) Employee refuses to
perform those acts, or (b) is unavailable, within the

 

6

 

meaning of any applicable laws. 
Employee acknowledges that the grant of the foregoing power of attorney
is coupled with an interest and survives the death or disability of
Employee.  Employee shall promptly
disclose to Company, in confidence (a) all Proprietary Information that
Employee creates during the term of this Agreement, and (b) all patent
applications filed by Employee within one year after termination of this
Agreement.  Employee shall have no
authority to exercise any rights or privileges with respect to the Proprietary
Information owned by or assigned to Company under this Agreement.  This Agreement does not apply to any
Proprietary Information that fully qualifies under the provisions of California
Labor Code Section 2870 or any similar or successor statute.

 

4.                                       Independent
Value of Proprietary Information.  Employee acknowledges that Company enjoys a
competitive advantage as a result of its compilation, possession and use of the
Proprietary Information, and that Company would suffer competitive harm if the
Proprietary Information became known to others outside the Company.

 

5.                                       Non-Disclosure
of Proprietary Information.  Employee agrees not to disclose any of
Company’s Proprietary Information directly or indirectly, or use it in any way,
either during the term of this Agreement or at any time thereafter, except for
the benefit of Company as reasonably necessary in the course of Employee’s
employment, or as authorized in writing by Company.  Employee agrees that all files, records,
documents, computer-recorded or electronic information, drawings,
specifications, equipment, and similar items relating to Company’s business,
whether prepared by Employee or otherwise coming into Employee’s possession in
the course of Employee’s duties for Company, are Company’s exclusive property and
shall not be removed from Company’s premises under any circumstances whatsoever
without Company’s prior written consent. 
All such information removed shall be immediately returned to Company on
termination of Employee’s employment or upon demand by Company.

 

6.                                       Duty
to Prevent Unauthorized Release.  At all times during Employee’s employment and
thereafter, Employee shall promptly advise Company, if Employee becomes aware,
of any unauthorized release or use of Company’s Proprietary Information, and
shall take reasonable measures to prevent unauthorized persons or entities from
having access to, obtaining or being furnished with any Proprietary
Information.

 

7.                                       Non-solicitation
of Employees.  During
Employee’s employment with Company and for a two-year period after termination
of Employee’s employment for any reason, Employee shall not directly or
indirectly, either alone or in concert with others, solicit or entice any
employee, independent contractor, or consultant of Company to leave Company or
to compete directly or indirectly with Company.

 

8.                                       Non-solicitation
of Customers.  Employee
acknowledges that information regarding the customers and potential customers
of Company was compiled over time through substantial effort and expense of
Company and is a confidential trade secret of Company pursuant to California
Civil Code § 3426.1.  Employee agrees not
to disclose the identity and preferences of Company customers to any third
party without the prior written consent of Company.  During Employee’s employment with Company and
for a period of two years after the termination of employment, Employee shall
not directly or indirectly, either alone or in concert with others, solicit,
entice, or in any way divert the specific Company customers with whom Employee
had direct contact with during his or her employment, to cease doing business

 

7

 

with Company or to do business with any competitor of Company.  This provision shall not, however, prevent
Employee from soliciting customers or potential customers of Company who are
generally known to the public or otherwise do not constitute a Company trade
secret.-

 

9.                                       Conflicting
Employment.  During
Employee’s employment with Company, Employee shall not directly or indirectly engage
in any employment, occupation, consulting, or other business activity which
Company shall determine, in its sole discretion, to be in competition with
Company or to interfere with Employee’s duties as an employee of Company.

 

10.                                 Return
of Company Property.  On
termination of Employee’s employment, Employee agrees to deliver to Company,
all original copies and all reproductions of Proprietary Information, including
devices, records, software, hardware, reports, notebooks, proposals, lists,
correspondence, equipment, documents, computer diskettes, photographs, notes,
drawings, specifications, tape recordings or other electronic recordings,
programs, data, or other materials or property of any nature belonging to
Company or pertaining to Employee’s work with Company.  Employee agrees that Employee shall not take
nor permit a third party to take any original or copy of Company property upon
termination of Employee’s employment. 
Employee recognizes that the unauthorized taking of any Proprietary
Information may be a crime under Section 499c of the California Penal
Code, and may also result in civil liability under Sections 3426.1 through
3426.11 of the California Civil Code.

 

11.                                 Survival
of Obligations.  Except as
otherwise stated, the terms and conditions of this Agreement shall continue to
apply after termination of employment, and to any period during which Employee
perform services for Company as a consultant or independent contractor.  On termination of employment, Employee agrees
to attend an exit interview with an Company representative and to review, among
other things, Employee’s obligations under this Agreement and under California
law.  The occurrence or non-occurrence of
an exit interview, however, shall  not
affect Employee’s obligations under this Agreement.

 

12.                                 Notification
to New Employer.  If Employee
leaves the employ of Company, Employee consents to Company’s notification to
any new employer of Employee’s rights and obligations under this
Agreement.  Employee agrees to provide
the name and address of Employee’s new employer for this purpose as soon as it
is known to Employee.

 

13.                                 At-Will
Employment.  Employee
understands and agrees that Employee’s employment is for an unspecified
duration and constitutes “at-will” employment. 
Company has and will continue to have the absolute and unconditional
right to terminate Employee’s employment for any reason or no reason, with or
without cause or prior notice.  Nothing
in this Agreement shall obligate Company to continue to retain Employee as an
employee.  Employee further understands
that no oral representations or implied conduct by any company individuals can
alter the nature of Employee’s at-will relationship with Company.  Only a written document signed by the
Chairman or President of Company can alter Employee’s at-will employment
status.

 

14.                                 Equitable
Remedies.  Employee
acknowledges that irreparable injury will result to Company from Employee’s
violation of any of the terms of this Agreement.  Employee expressly agrees that Company shall
be entitled, in addition to damages and any other remedies provided by law, to
an injunction or other equitable remedy respecting such violation or

 

8

 

continued violation, without the necessity of a bond or similar
undertaking.  Employee agrees to submit
himself or herself to the jurisdiction of the Courts of the State of
California, County of San Diego, in any proceeding to enforce the terms of this
Agreement.

 

15.                                 Severability.  If a court or an arbitrator of competent
jurisdiction holds any provision of this Agreement to be illegal,
unenforceable, or invalid in whole or in part for any reason, the validity and
enforceability of the remaining provisions or portions of them, shall not be
affected.

 

16.                                 Affiliate.  As used herein, the term “Company” shall
include, without limitation, Company, and any division, subsidiary, parent,
affiliate, or sister company of Company.

 

17.                                 Attorney’s
Fees.  In the event
any litigation, arbitration, mediation, or other proceeding (“Proceeding”) is
initiated by any party(ies) against any other party(ies) to enforce, interpret
or otherwise obtain judicial or quasi-judicial relief in connection with this
Agreement, the prevailing party(ies) in such Proceeding shall be entitled to
recover from the unsuccessful party(ies) all costs, expenses, actual attorney’s
and expert witness fees, relating to or arising out of (1) such Proceeding (whether or not such Proceeding proceeds to
judgment), and (2) any post-judgment
or post-award proceeding including without limitation one to enforce any
judgment or award resulting from any such Proceeding.  Any such judgment or award shall contain a
specific provision for the recovery of all such subsequently incurred costs,
expenses, actual attorney’s and expert witness fees.

 

EMPLOYEE HAS BEEN AFFORDED THE OPPORTUNITY TO CONSULT WITH INDEPENDENT
COUNSEL REGARDING THIS AGREEMENT. 
EMPLOYEE HAS READ ALL OF THIS AGREEMENT AND UNDERSTANDS IT COMPLETELY,
AND BY EMPLOYEE’S SIGNATURE BELOW REPRESENTS THAT THIS AGREEMENT IS THE ONLY
STATEMENT MADE BY OR ON BEHALF OF COMPANY UPON WHICH EMPLOYEE HAS RELIED IN
SIGNING THIS AGREEMENT.

 

This instrument has been duly executed by the undersigned as of the
date written below:

 

 

	
  7/27/2009

  	
   

  	
  /s/ Nick Gagliardi

  
	
  Date

  	
  EMPLOYEE’S SIGNATURE

  
	
   

  	
   

  
	
   

  	
  Nick Gagliardi

  
	
   

  	
  PRINT EMPLOYEE’S NAME

  

 

	
  Accepted By:

  
	
   

  
	
  Hansen Beverage Company

  
	
   

  	
   

  
	
  By: 

  	
  /s/ Jessica Gutierrez

  	
   

  
	
   

  	
   

  
	
  Its:

  	
  Jessica Gutierrez

  	
   

  

 

9Exhibit 10.54B

 

CLEAN HARBORS, INC.

 

Restricted Stock Award Agreement

[Employee]

 

Employee:

Number
of Shares:

Award
Date:

Vesting
Start Date:

 

THIS
AGREEMENT (the “Agreement”) is made as of the date set forth above (the “Award
Date”) between Clean Harbors, Inc., a Massachusetts corporation (the “Company”),
and the above-referenced employee (the “Participant”).

 

For
valuable consideration, receipt of which is acknowledged, the parties hereto
agree as follows.

 

1.                                       Issuance of
Shares and Vesting.

 

Effective
as of Award Date, the Company hereby grants to the Participant
             shares
(the “Shares”) of the Company’s common stock, par value $.01 per share (“Common
Stock”), as an Award of Restricted Stock pursuant to the Company’s 2010
Stock Incentive Plan (such Plan, as it may previously have been or may
hereafter be amended, the “Plan”). 
All of the terms and conditions of the Plan are incorporated herein by
reference, and any capitalized terms that are not defined herein shall have the
meanings ascribed to such terms in the Plan. The Participant hereby accepts the
Award and agrees to acquire and hold the Shares subject to the terms and
provisions set forth in the Plan and the additional terms and provisions
contained herein.

 

During
the period (the “Vesting Period”) between the Award Date and the earlier
of (i) the Termination Date (as defined in Section 2 hereof) and (ii) the
completion of the Vesting Schedule (as defined in the next sentence), the
Shares shall vest (and become “Vested Shares”) in the Participant in
such amounts and on such dates as are set out in the Vesting Schedule.  The “Vesting Schedule” shall be as
follows:

 

[  ] Shares shall vest on [  ], 20[ 
];

[  ] Shares shall vest on [  ], 20[ 
];

[  ] Shares shall vest on [  ], 20[ 
];

[  ] Shares shall vest on [  ], 20[ 
]; and

[  ] Shares shall vest on [  ], 20[ 
].

 

However,
notwithstanding the Vesting Schedule, one hundred (100%) percent of the Shares
shall vest in the event (i) a Change of Control of the Company shall occur
during the Vesting Period and (ii) on the date of such Change of Control
the Participant shall continue to be employed by the Company (or any subsidiary
or parent thereof included in the term “Company” in the Plan).  

 

 

A
Change of Control of the Company shall be deemed to have occurred if the
Company is a party to any merger, consolidation or sale of assets, or there is
a tender offer for the Company’s common stock, or a contested election of the
Company’s directors, and as a result of any such event, either (i) the
directors of the Company in office immediately before such event cease to
constitute a majority of the Board of Directors of the Company, or of the
company succeeding to the Company’s business, or (ii) any company, person
or entity (including one or more persons and/or entities acting in concert as a
group) other than an affiliate of the Company gains “control” (ownership of
more than fifty (50%) percent of the outstanding voting stock of the Company)
over the Company.  The concept of “control”
shall be deemed to mean the direct or indirect ownership, beneficially or of
record, of voting stock of the Company.

 

2.                                       Forfeiture of
Unvested Shares.

 

If
the Participant ceases prior to the completion of the Vesting Schedule to be
employed by the Company (or any subsidiary or parent corporations as are
included in the term “Company” as defined in the Plan) for any reason other
than a Change of Control as described in Section 1 (including, without
limitation, death, disability, termination or voluntary resignation), the Company
shall automatically reacquire any of the Shares which have not vested in
accordance with Section 1 (the “Unvested Shares”) as of the
effective date of such cessation (the “Termination Date”) and the
Participant shall forfeit such Unvested Shares unconditionally and shall have
no further right or interest in such Shares unless the Company agrees in
writing to waive its reacquisition right as to some or all of the Unvested
Shares.

 

3.                                       Administration
of Stock Certificates.

 

(a)           Concurrently with or promptly following the execution
hereof, the Company shall deliver the Unvested Shares either in certificated or
uncertificated form (as the Committee shall elect) to American Stock Transfer &
Trust Company (such company or any other agent as the Committee may select
during the Vesting Period being referred to hereafter as the “Administrative
Agent”).  During the Vesting Period,
the Administrative Agent shall hold the Shares for the benefit of the
Participant, but subject to the provisions of this Agreement. Notwithstanding
such deposit of the Shares with the Administrative Agent, the Participant shall
retain during the Vesting Period the right to vote and enjoy all other rights
and incidents of ownership of the Shares except as may be restricted hereunder.

 

(b)           During the Vesting Period, the Administrative Agent shall
keep true and accurate records of all the Shares. The Company shall indemnify
and hold harmless the Administrative Agent against any and all costs or
expenses (including attorneys’ fees and expenses), judgments, fines, losses,
claims, damages, liabilities and amounts paid in settlement in connection with
any claim, action, suit, proceeding or investigation arising out of or
pertaining to this Agreement.

 

(c)           Following the close of each calendar quarter during which
any of the Shares shall become Vested Shares, the Administrative Agent shall,
upon the written request of the Participant but subject to potential delivery
to the Company of a portion of such Vested Shares to the extent required to pay
withholding taxes in accordance with Section 7 hereof, deliver to the
Participant stock certificates representing such number of Vested Shares which
ceased to be Unvested Shares during such calendar quarter. Following the close
of the calendar quarter in 

 

2

 

which there shall remain on deposit with the
Administrative Agent no Shares which have not yet become Vested Shares or been
forfeited to the Company, but subject to potential delivery to the Company of a
portion of such Vested Shares to the extent required to pay withholding taxes
in accordance with Section 7 hereof, the Administrative Agent shall
deliver to the Participant stock certificates representing the Vested Shares
(if any) remaining in the possession of the Administrative Agent.  The Participant hereby authorizes the
Administrative Agent to deliver to the Company any and all Shares that are
forfeited under the provisions of this Agreement or that are required to pay
withholding taxes in accordance with Section 7 hereof.

 

4.                                       Restrictions on
Transfer.

 

The
Participant shall not sell, assign, transfer, pledge, hypothecate or otherwise
dispose of, by gift, sale, operation of law or otherwise (collectively “transfer”),
any Unvested Shares or any interest therein.

 

5.                                       Effect of
Prohibited Transfer.

 

The
Company shall not be required (a) to transfer on its books any of the
Shares which shall have been sold or transferred in violation of any of the
restrictions imposed by this Agreement, or (b) to treat as owner of such
Shares or to pay dividends to any transferee to whom any such Shares shall have
been so sold or transferred.

 

6.                                       Adjustments for
Stock Splits, Stock Dividends, Etc.

 

If
from time to time during the Vesting Period there is any stock split-up, stock
dividend, stock distribution or other reclassification of the Common Stock of
the Company, any and all new, substituted or additional securities to which the
Participant is entitled by reason of Participant’s ownership of Shares shall be
immediately subject to the vesting requirements, restrictions on transfer and
other provisions of this Agreement in the same manner and to the same extent as
such Shares.

 

7.                                       Withholding
Taxes.

 

(a)           The Participant acknowledges and agrees that in the case
of the issuance of Restricted Stock that is “substantially vested” (within the
meaning of Treasury Regulations Section 1.83-3(b)), the Committee may
require the Participant to remit to the Company an amount sufficient to satisfy
any federal, foreign, state or local withholding tax requirements (or make
other arrangements satisfactory to the Company with regard to such taxes,
including withholding from regular cash compensation, providing other security
to the Company, or remitting or foregoing the receipt of Shares having a fair
market value on the date of delivery sufficient to satisfy such obligations)
prior to the issuance of any Shares pursuant to this Award of Restricted Stock.

 

(b)           The Participant acknowledges and agrees that in the case
of Restricted Stock that is not “substantially vested” upon issuance, if the
Committee determines that under applicable law and regulations the Company
could be liable for the withholding of any federal, foreign, state or local tax
with respect to such Shares, the Committee may require the Participant to remit
to the Company an amount sufficient to satisfy any such potential liability (or
make other 

 

3

 

arrangements satisfactory to the Company with
respect to such taxes, including withholding from regular cash compensation
providing other security to the Company, or remitting or foregoing the receipt
of Shares having a fair market value on the date of delivery sufficient to
satisfy such obligations) at the time such Shares of Restricted Stock are
delivered to the Participant, at the time the Participant makes an election
under Section 83(b) of the Internal Revenue Code of 1986, as amended
(the “Code”), with respect to such Shares, or at the time such Shares
become “substantially vested,” and/or to agree to augment such security from
time to time in any amount reasonably deemed necessary by the Committee to
preserve the adequacy of such security. The
Participant acknowledges that the Shares of Restricted Stock are subject to the
forfeiture obligation under Section 2 of this Agreement and such
forfeiture obligation may be treated as a substantial risk of forfeiture within
the meaning of Section 83 of the Code, and that, in the absence of an
election under Section 83(b) of the Code, such treatment could delay
the determination of the tax consequences of such issuance for both the Company
and the Participant (possibly to the Participant’s detriment).  If the Participant files a timely election
under Section 83(b) of the Code, the Participant shall provide the
Company with an original copy of such timely filed election and a certified
mail or overnight courier receipt of such filing within 10 days of the time the
election is filed.

 

8.                                       Severability.

 

The
invalidity or unenforceability of any provision of this Agreement shall not
affect the validity or enforceability of any other provision of this Agreement,
and each other provision of this Agreement shall be severable and enforceable
to the extent permitted by law.

 

9.                                       Waiver;
Termination.

 

Any
provision contained in this Agreement may be waived, either generally or in any
particular instance, by the Company. This Agreement may be terminated as
provided in the Plan.

 

10.                                 Binding Effect.

 

This
Agreement shall be binding upon and inure to the benefit of the Company and the
Participant and their respective heirs, executors, administrators, legal
representatives, successors and assigns, subject to the restrictions on
transfer set forth in Section 4 of this Agreement.

 

11.                                 Notice.

 

All
notices required or permitted hereunder shall be in writing and deemed effectively
given (i) upon personal delivery, (ii) one (1) day after
delivery to an overnight courier service which provides for a receipt upon
delivery, or (iii) three (3) days after deposit with the United
States Post Office, by registered or certified mail, postage prepaid,
addressed, if to the Company, to Clean Harbors, Inc., 42 Longwater Drive, P.O. Box
9149, Norwell, Massachusetts 02061-9149, Attention: Treasurer; if to the
Custodian, to the Company’s aforesaid address, Attention: Treasurer; and if to
the Participant, to the address shown beneath his or her respective signature
to this Agreement; or at such other address or addresses as either party shall
designate to the other in accordance with this Section 11.

 

4

 

12.                                 Pronouns.

 

Whenever
the context may require, any pronouns used in this Agreement shall include the
corresponding masculine, feminine or neuter forms, and the singular form of
nouns and pronouns shall include the plural, and vice-versa.

 

13.                                 Entire
Agreement.

 

This
Agreement, together with the Plan, constitutes the entire agreement between the
parties, and supersedes all prior agreements and understandings, relating to
the subject matter of this Agreement.

 

14.                                 Amendment.

 

This
Agreement may be amended or modified only by a written instrument executed by
both the Company and the Participant.

 

15.                                 Governing Law.

 

This
Agreement shall be construed, interpreted and enforced in accordance with the
laws of the Commonwealth of Massachusetts.

 

[remainder of page left intentionally blank]

 

5

 

IN WITNESS WHEREOF, the parties hereto have executed this Agreement as
of the Award Date.

 

 

	
  Clean
  Harbors, Inc.

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  By:

  	
   

  	
   

  	
   

  
	
   

  	
  Name:

  	
  [                                                              ]

  	
   

  	
   

  	
   

  
	
   

  	
  Title:

  	
  [                                                              ]

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  ACCEPTED:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  (Signature of Participant)

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  (Printed Name of Participant)

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  (Residence Street Address)

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  (City)                              (State)                              (Zip
  Code)

  	
   

  	
   

  

 

6

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