Document:

Exhibit 10.2

TRANSITION AND CONSULTING AGREEMENT
THIS TRANSITION AND CONSULTING AGREEMENT (“Agreement”), dated as of July 26, 2022, is made by and between Digital Realty Trust, Inc. (“REIT”), DLR LLC (together with the REIT, “Company”), and David Ruberg (“Executive”).
WHEREAS, pursuant to that certain Amended Management Agreement, dated as of January 4, 2021, by and between the Company, Executive, and InterXion (together with all exhibits and annexes thereto, the “AMA”), Executive served the Company in the role of EVP, Strategic Advisor of the Company and served InterXion II B.V., an indirect subsidiary of the Company (“InterXion”), in the role of statutory director thereof;
WHEREAS, pursuant to the terms of the AMA, as of June 30, 2022 (“Transition Date”), the AMA terminated in accordance with its terms;
WHEREAS, effective as of the Transition Date, the Company and Executive mutually agreed to extend Executive’s employment with the Company on an at-will basis on the same terms and conditions as then in effect and the Company and Executive now mutually agree to terminate Executive’s employment as of the date of this Agreement (“Termination Date”); and
WHEREAS, in connection with Executive’s termination of employment on the Termination Date, the Company wishes to secure the services of Executive as a consultant to the Company upon the terms and subject to the conditions set forth herein, and Executive wishes to render such services to the Company upon the terms and subject to the conditions set forth herein.
NOW, THEREFORE, in consideration of the mutual agreements set forth herein and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto hereby agree as follows:
1.Termination of AMA; Termination of Employment.
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a.Termination of AMA; Resignation as Statutory Director. Executive and the Company hereby acknowledge that, effective as of the Transition Date, the AMA (including, for clarity, the Severance Terms attached as Exhibit A thereto) expired and terminated in accordance with its terms and Executive has no further rights thereunder; provided, that (i) Executive’s right to a pro rata part of his bonus for 2022 pursuant to Section 4.1 of the AMA, (ii) Articles 7 (Tax), 8 (Non-Competition / Non-Solicitation), 9 (Non-Disclosure), 10 (Documents), 12 (ECCA, Applicable Policies and Gifts), and 13.6 (Arbitration) of the AMA, and (iii) that certain Employee Confidentiality and Covenant Agreement between Executive and the Company dated January 3, 2021 (“ECCA”) shall, in each case, remain in full force and effect in accordance with their respective terms. In connection with the expiration and termination of the AMA as of the Transition Date and the termination of Executive’s employment with the Company as of the Termination Date, (w) effective as of the Transition Date, Executive is deemed to have resigned from all offices, directorships, and other employment positions then held with InterXion, including his position as statutory director of InterXion, (x) effective as of the Termination Date, Executive shall cease to serve as an employee and officer of the Company and any of its affiliates; (y) contemporaneously with the execution of this Agreement, Executive shall confirm in writing to 

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the Company and InterXion that he has resigned from his position at InterXion in such form as attached to this Agreement as Exhibit A, and (z) Executive shall take all actions reasonably requested by the Company to effectuate the foregoing, including where necessary to confirm separately in writing his resignation from each of the separate positions and directorships at the Company and InterXion, and to deregister Executive as statutory director of InterXion from the registers concerned, including the Dutch Trade Register of the Chamber of Commerce. Executive hereby acknowledges and agrees that nothing contained in this Agreement (including, without limitation, (A) the termination of the AMA on the Transition Date, (B) the termination of Executive’s employment on the Termination Date, and/or (C) the termination of the Consulting Services, the expiration of the Consulting Period (each, as defined below) or the Company’s election not to renew or extend Executive’s employment or the Consulting Period), nor any action taken by the Company in connection therewith, shall constitute an event giving rise to “Good Reason” (or any similar right) or a termination of Executive’s employment or service by the Company without “Cause” (or any similar term) for purposes of any Company plan or policy or any agreement or arrangement between Executive and the Company.
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b.Accrued Obligations. The Company will pay to Executive, in a single lump-sum payment on or within thirty (30) days after the Termination Date: (x) any accrued and unpaid base salary earned through the Termination Date, subject to standard payroll deductions and withholdings; and (y) all unreimbursed business expenses incurred by Executive through the Termination Date, if any, for which he seeks reimbursement, subject to Executive submitting to the Company his final documented expense reimbursement statement within 10 days of the Termination Date. The Company will reimburse Executive for any such expenses pursuant to its regular business policies and practices. 
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c.Obligations of the Company Upon Termination of Employment. Notwithstanding anything set forth in the AMA, other than as set forth in this Section 1 or in Section 4 below, Executive shall not be entitled to any further payments or benefits in connection with or following such termination of Executive’s employment.
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d.Return of Company Property. On or before the Termination Date, except as otherwise determined by the Company, Executive shall return to the Company all Company documents (and all copies thereof) and other Company property in their possession or control, including, but not limited to: Company files, correspondence, memoranda, notes, notebooks, books, records, plans, forecasts, reports, proposals, agreements, financial information, personnel information, marketing information, research and development information, information regarding business contacts, customers, vendors, strategies, information regarding potential, pending or completed transactions (including, without limitation, mergers, acquisitions, joint ventures and other partnerships), products, computer-recorded information, databases, computer programs, tangible property and equipment, credit cards, entry cards, keys, computer access codes, and any other materials of any kind that contain or embody any proprietary or confidential information of the Company (and all reproductions thereof in whole or in part). Executive shall make a diligent search to locate any such documents, property, and information. In addition, if Executive has used any non-Company computer, server, or e-mail system to receive, store, review, prepare, or transmit any Company confidential or proprietary data, materials, or information, he shall immediately provide 

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the Company with a computer-useable copy of such information and then permanently delete and expunge such Company confidential or proprietary information from those systems. Executive agrees to provide the Company with a written certification verifying that the necessary copying and/or deletion has been completed.
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2.Consulting Services.
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a.Consulting Period. During the period commencing on the Termination Date and ending on June 30, 2023 (the “Initial Consulting Termination Date”) or such earlier date on which Executive’s consulting relationship is terminated as provided herein (such period, the “Consulting Period”), Executive shall provide up to ten (10) hours per week of such consulting services as may be assigned to him by the Chief Executive Officer of the Company from time to time or as otherwise as may be mutually agreed by and between the Company and Executive (in any case, the “Consulting Services”). If not previously terminated in accordance with this Section 2, the Consulting Period shall automatically be extended for additional one (1)-year periods on each of (i) the Initial Consulting Termination Date and (ii) on each anniversary thereof, unless Executive or the Company elects not to so extend the Consulting Period by notifying the other party, in writing, of such election not less than sixty (60) days prior to the expiration of the then-current Consulting Period. The Consulting Services shall be provided at such times and locations as mutually agreed by Executive and the Company. During the Consulting Period, Executive shall comply with all applicable policies and procedures of the Company (including, without limitation, technology use, confidentiality, background check, and work authorization policies and procedures). The Company shall reimburse Executive for expenses actually incurred or paid by Executive during the Consulting Period in connection with the Consulting Services, subject to proper substantiation of such expenses; provided, however, that Executive shall not be authorized to incur any such expenses (including any travel expenses) without prior written approval from the Company.
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b.Termination of Consulting Services. The Consulting Services and consulting relationship established hereby may not be terminated by either party hereto during the Consulting Period, other than (i) by the Company for Cause (as defined below), (ii) by mutual agreement of the Company and Executive, (iii) by Executive for any reason or no reason, or (iv) by reason of a non-renewal or non-extension of the Consulting Period in accordance with Section 2(a) above. For purposes of this Agreement, “Cause” will be determined in the reasonable discretion of the Company, and will include, without limitation, the following: (i) failure by Executive to exercise a reasonable level of skill and efficiency in performing the Consulting Services; (ii) misconduct by Executive which injures the general reputation of the Company or its subsidiaries or affiliates or interferes with contracts or operations of the Company or its subsidiaries or affiliates; (iii) Executive’s conviction of, or entry of a guilty or no contest plea to, a felony or any crime involving moral turpitude; (iv) fraud, misrepresentation, or breach of trust by Executive in the course of their services which adversely affects the Company or its subsidiaries or affiliates; (v) Executive’s willful or gross misconduct in the performance of the Consulting Services that results in economic or other injury to the Company or its subsidiaries or affiliates; (vi) a breach of the Restrictions (as defined below); or (vii) a breach by Executive of any of their obligations under this Agreement.
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c.Obligations of the Company Upon Termination of Consulting Period. Upon the termination of the Consulting Services for any reason, the continued vesting of Executive’s Equity Awards (as defined below) under this Agreement shall cease as of the applicable date of such termination. Executive further acknowledges and agrees that the continued vesting of the Equity Awards does not constitute a bonus or raise, and that Executive is not being required by the Company to sign this Agreement, or the Release (as defined below) in exchange for a bonus or raise, or as a condition of employment or continued employment.
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3.Certain Acknowledgements.
a.Right to Receive/Retain Payments and Benefits. Executive’s compliance with the terms of this Agreement (including any agreements or covenants cross-referenced herein) and execution and non-revocation of any of the Releases in accordance with Section 5 below is a condition to Executive’s right to continued vesting of the Equity Awards as set forth in Section 4 below. If Executive violates or breaches this Agreement (including any agreements or covenants cross-referenced herein), does not execute or revokes or breaches any Release, or if the Company terminates Executive’s Consulting Services for Cause, the Company shall not be obligated to provide Executive with the continued vesting of the Equity Awards in accordance with Section 4 below.
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b.Adequate Consideration. Executive acknowledges and agrees that the continued vesting of the Equity Awards as set forth in Section 4 below constitutes adequate legal consideration, which Executive is not otherwise entitled to by law or contract, in exchange for the promises and representations made by Executive in this Agreement. 
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4.Treatment of Equity Awards. Executive represents and acknowledges that except as set forth on Exhibit B attached hereto, Executive holds no outstanding equity or equity-linked awards with respect to the REIT, Digital Realty Trust, L.P. (“Operating Partnership”), or any affiliate thereof as of the date hereof, or any other rights to acquire stock or equity interests of any such entity (the awards set forth on Exhibit B, the “Equity Awards”). In consideration of, and subject to and conditioned upon, Executive’s execution and non-revocation of the Release in accordance with Section 5 below and Executive’s continued compliance with the terms and conditions of this Agreement (including without limitation, the covenants contained or referred to in Section 6 below (“Restrictions”)), the Company, the Operating Partnership, and Executive agree that each outstanding Equity Award held by Executive as of the Termination Date shall continue to vest during the Consulting Period in accordance with the terms of the applicable award agreement evidencing such Equity Award (each, an “Award Agreement”). The Equity Awards, to the extent not vested as of the conclusion of the Consulting Period, shall, automatically and without further action, terminate and be cancelled without consideration therefor, and Executive shall have no further right or interest therein. 
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5.Release of Claims and Notice of Rights. Executive acknowledges and agrees that the opportunity to enter into this Agreement and Executive’s right to the continued vesting of the Equity Awards as set forth in Section 4 above are subject to and conditioned upon Executive’s execution, delivery, and non-revocation of a general release of claims in a form prescribed by the Company (“Release”) in accordance with this Section 5. Executive shall execute and deliver a 

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Release within twenty-one (21) days following each of the Termination Date and the date on which the Consulting Services terminate in accordance with this Agreement. The parties agree that nothing in this Agreement shall be construed to limit Executive’s ability to file a charge or complaint with the Equal Employment Opportunity Commission, the National Labor Relations Board, the Occupational Safety and Health Administration, the Securities and Exchange Commission, or any other federal, state, or local government agency or commission (“Government Agencies”). Further, the parties agree that this Agreement does not limit Executive’s ability to communicate with any Government Agencies or otherwise participate in any investigation or proceeding that may be conducted by any Government Agency, including providing documents or other information, without notice to the Company. This Agreement does not limit Executive’s right to receive an award for information provided to any Government Agencies.
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6.Restrictive Covenants.
a.Confidentiality. Executive agrees that during the Consulting Period and thereafter, he will not, directly or indirectly, disclose, or appropriate to their own use or the use of any third party, any trade secret or confidential information concerning the REIT, the Operating Partnership, or their respective subsidiaries or affiliates (collectively, “Digital Group”) or their businesses, whether or not developed by Executive, except as required in connection with Executive’s performance of the Consulting Services. Executive further agrees that, upon termination of the consulting relationship hereunder, he will not receive or remove from the files or offices of the Digital Group any originals or copies of documents or other materials (physical, electronic, or otherwise) maintained in the ordinary course of business of the Digital Group, and that he will return any such documents or materials (physical, electronic, or otherwise) otherwise in their possession. Executive further agrees that, upon termination of the consulting relationship, he will maintain in strict confidence the projects in which any member of the Digital Group is involved or contemplating.

The federal Defend Trade Secrets Act of 2016 (“Act”) provides immunity from liability in certain circumstances to employees, contractors, and consultants for limited disclosures of Digital Group “trade secrets,” as defined by the Act. Specifically, employees, contractors, and consultants may disclose trade secrets: (1) in confidence, either directly or indirectly, to a federal, state, or local government official, or to an attorney, “solely for the purpose of reporting or investigating a suspected violation of law,” or (2) “in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal.” Additionally, employees, contractors, and consultants who file lawsuits for retaliation by an employer for reporting a suspected violation of law may use and disclose related trade secrets in the following manner: (1) the individual may disclose the trade secret to their attorney, and (2) the individual may use the information in the court proceeding, as long as the individual files any document containing the trade secret under seal and does not otherwise disclose the trade secret “except pursuant to court order.”
b.Non-Solicitation of Customers and Suppliers. Executive agrees that during the Consulting Period, he will not, directly or indirectly, solicit, induce, or encourage any customer, vendor, or other party doing business with any member of the Digital Group to terminate or limit their existing contractual relationships with the Digital Group or such member or transfer their business from the Digital Group or such member, and he will not initiate discussion with any 

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such person for any such purpose or authorize or knowingly cooperate with the taking of any such actions by any other individual or entity.
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c.Non-Competition. Executive covenants and agrees that during the Consulting Period, he shall not, directly or indirectly, own, manage, operate, join, control, or participate in the ownership, management, operation, or control of, or be connected as a director, officer, employee, partner, consultant, or otherwise with, any profit or nonprofit business or organization which, directly or indirectly competes with, or in any way interferes with, the business of the Company in any jurisdiction within 50 miles of where the Company has business operations. Notwithstanding the foregoing, this covenant shall not prohibit the mere passive ownership of less than five percent (5%) of the outstanding stock of any publicly traded corporation, provided that Executive is not otherwise in violation of this covenant.
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d.Non-Disparagement. Executive agrees that during the Consulting Period and thereafter, he will not make any statement, publicly or privately, which disparages or would reasonably be expected to disparage the Digital Group or any of its employees, officers, or directors. The Company agrees to instruct its executive officers and directors not to make, during the Consulting Period and thereafter, any statement, publicly or privately, which disparages or would reasonably be expected to disparage Executive. Nothing contained in this Section, in any way, restricts or impedes Executive from exercising Executive’s rights under Section 7 of the National Labor Relations Act, from testifying truthfully in any legal proceeding, including, but not limited to responding to any inquiries made by the EEOC or any government agency.
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e.ECCA. Executive acknowledges and agrees that he has executed the ECCA, a copy of which is attached hereto as Exhibit C, and that such agreement shall remain in full force and effect in accordance with its terms.
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f.Interpretation. In the event the terms of this Section 6 shall be determined by any court of competent jurisdiction to be unenforceable by reason of its extending for too great a period of time or over too great a geographical area or by reason of its being too extensive in any other respect, it will be interpreted to extend only over the maximum period of time for which it may be enforceable, over the maximum geographical area as to which it may be enforceable, or to the maximum extent in all other respects as to which it may be enforceable, all as determined by such court in such action.
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7.Cooperation.
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a.During the Consulting Period, and thereafter, Executive shall cooperate with the Digital Group, upon the reasonable request of the Company, with respect to any internal investigation or administrative, regulatory, or judicial proceeding involving matters that arose during Executive’s employment or consultancy with the Company (including, without limitation, Executive being available to the Digital Group upon reasonable notice for interviews and factual investigations, appearing at the reasonable request of the Company to give testimony without requiring service of a subpoena or other legal process, and turning over to the Digital Group all 

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relevant Digital Group documents which are or may have come into Executive’s possession during their employment or consultancy); provided, however, that any such request by the Company shall not be unduly burdensome or unreasonably interfere with Executive’s personal schedule or ability to engage in gainful employment and the Company shall reimburse Executive for any actual, reasonable, out-of-pocket expenses incurred in connection with providing any such cooperation.
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b.Nothing herein is intended to be or will be construed to prevent, impede, or interfere with Executive’s right to respond accurately and fully to any question, inquiry, or request for information regarding the Digital Group or his employment with the Company when required by legal process, or from initiating communications directly with, or responding to any inquiry from, or providing truthful testimony and information to, any federal, state, or other regulatory authority in the course of an investigation or proceeding authorized by law and carried out by such agency. Executive is not required to contact the Digital Group regarding the subject matter of any such communications before they engage in such communications. Executive further understands that nothing in this Agreement waives Executive’s right to testify before an administrative, legislative, or judicial proceeding pursuant to a court order, subpoena, or written request from an administrative agency concerning alleged criminal conduct or alleged sexual harassment on the part of any party to this Agreement, or their agents or employees.
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8.References. Following the date hereof, any and all inquiries made by outside third parties concerning the employment of Executive by the Company shall be directed to Cindy Fiedelman, Chief Human Resources Officer. The Company agrees that if contacted by a prospective employer of Executive, it will only verify dates of employment and job classification held by Executive.
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9.Independent Contractor. The Company and Executive expressly agree that, during the Consulting Period, Executive shall be solely an independent contractor and neither Executive nor any principal, employee, or contractor of Executive shall be construed to be an employee of the Company in any matter under any circumstances or for any purposes whatsoever. Nothing in this Agreement shall establish an agency, partnership, joint venture, or employee relationship between the Company and Executive, and Executive shall not represent himself as an employee or officer of the Company. The Company and Executive agree and acknowledge that neither party hereto renders legal, tax, or accounting advice to the other party. Without limiting the generality of the foregoing, during the Consulting Period, the Company shall not provide Executive or any principal, employee, or contractor of Executive with, and no such individual shall be eligible to receive from the Company under any Company plan, any benefits, including without limitation, any pension, health, welfare, retirement, workers’ compensation, or other insurance benefits. Executive shall be solely responsible for all taxes arising in connection with the payment of the continued vesting of the Equity Awards in respect of the Consulting Services (as set forth in Section 4 above), including, without limitation, any and all federal, state, local and foreign income, and employment taxes.
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10.No Assignment. This Agreement and the rights and duties hereunder are personal to Executive and may not be assigned, delegated, transferred, or pledged by Executive. Executive hereby acknowledges and agrees that the Company may assign, delegate, transfer, pledge, or sell this Agreement and the rights and duties hereunder (a) to an affiliate of the Company or (b) to any 

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third party in connection with (i) the sale, transfer, or other disposition of all or substantially all of the assets of the Company or (ii) a merger, consolidation, or other similar corporate transaction involving the Company.
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11.Indemnification. Without limiting any other right of indemnification, contribution, or recovery, if the Company or its officers, directors, employees, or agents incur any liability or expense as a result of any claim that arises from Executive’s negligent performance of the Consulting Services, Executive shall indemnify the Company, its officers, directors, employees, and agents and hold each of them harmless against all such liability or expense, including reasonable attorney’s fees.
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12.Notices. Any notice or other communication required or permitted under this Agreement shall be effective only if it is in writing and delivered personally or sent by email or registered or certified mail, postage prepaid, addressed as follows (or if it is sent through any other method agreed upon by the parties):

If to the Company:
Digital Realty Trust, Inc.
5707 Southwest Parkway, Building 1, Suite 275
Austin, TX 78735
Attn: General Counsel
legalnotices@digitalrealty.com
If to Executive, to their most recent address on the Company’s books and records.
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13.Miscellaneous.
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a.Governing Law. This Agreement shall be governed, construed, interpreted, and enforced in accordance with the substantive laws of the State of Florida, without reference to the principles of conflicts of law therein or any other jurisdiction, and where applicable, the laws of the United States.
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b.Arbitration. Except to the extent otherwise provided in the ECCA or any other agreement containing Restrictions, any disagreement, dispute, controversy, or claim arising out of or relating to this Agreement or the interpretation of this Agreement or any arrangements relating to this Agreement or contemplated in this Agreement or the breach, termination, or invalidity thereof shall be settled by final and binding arbitration before a single neutral arbitrator. Arbitration shall be administered by JAMS in Austin, Texas, unless otherwise agreed by the Parties, in accordance with the then existing JAMS Employment Arbitration Rules and Procedures. Except as provided herein, the Federal Arbitration Act shall govern the interpretation, enforcement, and all proceedings. The arbitrator shall apply the substantive law (and the law of remedies, if applicable) of the state referenced in Section 13(a) of this Agreement, and the arbitrator is without jurisdiction to apply any different substantive law. The arbitrator shall have 

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the authority to entertain a motion to dismiss and/or a motion for summary judgment by any party and shall apply the standards governing such motions under the Federal Rules of Civil Procedure. Judgment upon the award may be entered in any court having jurisdiction thereof. Each party will pay the fees for his, her or its own attorneys, subject to any fee-shifting statutes that govern the claims at issue in arbitration. However, in all cases where required by law, the Company will pay the arbitrator’s and the arbitration fees. If under applicable law the Company is not required to pay all of the arbitrator’s and/or the arbitration fees, such fee(s) will be apportioned between the parties by the arbitrator in accordance with said applicable law, and any disputes in that regard will be resolved by the arbitrator.
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c.Amendments; Waivers. This Agreement may not be modified, amended, or terminated except by an instrument in writing signed by Executive and the Company. No failure to exercise and no delay in exercising any right, remedy, or power hereunder preclude any other or further exercise of any other right, remedy, or power provided herein or by law or in equity.
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d.Binding Effect; Benefit. This Agreement shall inure to the benefit of and be binding upon the parties hereto and each of their respective successors and assigns. Nothing in this Agreement, expressed or implied, is intended to confer on any person other than the parties hereto and their respective successors and permitted assigns, any benefit, rights, remedies, obligations, or liabilities under or by reason of this Agreement.
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e.No Authority to Bind the Company. Following the date hereof, Executive shall have no authority to, and Executive shall not, (i) enter into any contract or agreement on behalf of the Company or otherwise bind or commit the Company or (ii) except as expressly authorized herein, incur any expense or liability on behalf of the Company.
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f.Enforcement. If any provision of this Agreement is held to be illegal, invalid, or unenforceable under present or future laws effective during the term of this Agreement, such provision shall be fully severable, this Agreement shall be construed and enforced as if such illegal, invalid, or unenforceable provision had never comprised a portion of this Agreement, and the remaining provisions of this Agreement shall remain in full force and effect and shall not be affected by the illegal, invalid, or unenforceable provision or by its severance from this Agreement. Furthermore, in lieu of such illegal, invalid, or unenforceable provision, there shall be added automatically as part of this Agreement a provision as similar in terms to such illegal, invalid, or unenforceable provision as may be possible and be legal, valid, and enforceable.
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g.Construction. This Agreement shall be deemed drafted equally by both the parties. Its language shall be construed as a whole and according to its fair meaning. Any presumption or principle that the language is to be construed against any party shall not apply. The headings in this Agreement are only for convenience and are not intended to affect construction or interpretation.
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h.Entire Agreement. The terms of this Agreement (together with the ECCA, and any other agreements and instruments contemplated hereby or referred to or incorporated herein) are, as of the date hereof, intended by the parties to be the final expression of their agreement with respect to the subject matter hereof and may not be contradicted by evidence of any prior or contemporaneous agreement. As of the date hereof, this Agreement shall supersede all undertakings or agreements, whether written or oral, previously entered into by Executive and the Company or any predecessor thereto or affiliate thereof with respect to the subject matter hereof (including, without limitation, the AMA, except as expressly provided herein). References in this Agreement to “this Agreement” and/or “herein” shall include all annexes and exhibits hereto.
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i.Counterparts. This Agreement may be executed in several counterparts, each of which shall be deemed to be an original, but all of which together will constitute one and the same Agreement.
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j.Consultation with Counsel. Executive acknowledges that Executive has been given at least five (5) days to consult an attorney regarding this Agreement. If Executive signs this Agreement prior to the end of the five-business day period, Executive acknowledges that Executive’s decision to accept such shortening of time is knowing and voluntary and was not induced by the Company through fraud, misrepresentation, or a threat to withdraw or alter the offer prior to the expiration of the reasonable time period, or by providing different terms to Executive.
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14.No Other Payments Due. Executive acknowledges that, except as provided in Section 1.a, Executive has been paid all wages or other compensation, including, but not limited to accrued, unused vacation benefits, incentives, or bonuses, that Executive has earned or become entitled to during Executive’s employment with the Company through the date Executive executes this Agreement. Executive agrees that Executive does not have knowledge of any potential or actual dispute with the Company about any unpaid wages or compensation which Executive believes Executive is entitled to but has not been paid as of the date Executive executes this Agreement. Executive understands and acknowledges that Executive shall not be entitled to any payments or benefits from the Company other than those expressly set forth in Sections 1 and 4 above (as applicable).
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15.Representation Concerning Filing of Legal Actions. Executive represents and warrants that Executive does not presently have on file, and further represents that Executive will not hereafter file, any claims, grievances, actions, appeals or complaints against the Company or the Digital Group in or with any state or federal court, board or before any other tribunal or panel of arbitrators, public or private, based upon any actions occurring prior to the date of this Agreement, including but not limited to any claims arising out of the cessation of Executive’s employment or consultancy with the Company, unless otherwise permitted by law. If such an action or charge has been filed by Executive, or on Executive’s behalf, Executive agrees not to participate in any such proceeding and Executive will use Executive’s best efforts to cause it immediately to be withdrawn and dismissed with prejudice.
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16.No Wrongdoing. Executive represents and warrants that prior to signing this Agreement, Executive has not committed any wrongdoing against the Company, and has not breached any Company policy or violated any rule of conduct contained in Company’s policies, and/or procedures, including but not limited to the Company’s policies on use of its corporate credit card. Executive understands that the covenant contained in this Section is a material inducement for the Company in making this Agreement, and that, any breach thereof will be deemed a material breach of this Agreement. Executive agrees that in the event of any breach of this Section, Company will have the right to recoup rescind the Agreement and any obligations to provide consideration under the Agreement.

[Signature Page Follows]
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IN WITNESS WHEREOF, the parties hereto have executed this Transition and Consulting Agreement, effective as of the date first written above.
DIGITAL REALTY TRUST, INC.,
a Maryland corporation
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By:​ ​ /s/ Cindy Fiedelman​ ​
Name: Cindy Fiedelman
Title: Chief Human Resources Officer
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DLR LLC,
a Maryland limited liability company
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By: Digital Realty Trust, L.P.,
its managing member
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By: Digital Realty Trust, Inc.,
its general partner
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By:​ ​ /s/ Cindy Fiedelman​ ​
Name: Cindy Fiedelman
Title: Chief Human Resources Officer
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Accepted and Agreed, 
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/s/ David Ruberg ​ ​
David Ruberg
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Date: July 26, 2022
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Exhibit A
Letter of Resignation from Statutory Directorship
(See Attached)
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Letter of Resignation from Statutory Directorship
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	To:
	Digital Realty Trust, Inc.
DLR LLC
InterXion II B.V.

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Dear Company and InterXion II B.V.,
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I refer to the Transition and Consulting Agreement (“Agreement”), dated as of July 26, 2022, among Digital Realty Trust, Inc. (“REIT”), DLR LLC (together with the REIT, “Company”), and myself, David Ruberg (“Executive”).
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In accordance with the provisions of the AMA (article 2.4) and the Agreement, I hereby resign effective as of June 30, 2022 from my position as statutory director (statutair bestuurder) of InterXion II B.V.
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I confirm that I have no claim against InterXion II B.V., other than my claims under the Agreement.
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I hereby confirm that InterXion II B.V. may proceed with all the required formalities with the Trade Register and that I am available to cooperate to effect such deregistration.
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Yours sincerely,
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/S/ David Ruberg
David Ruberg
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Exhibit B
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Equity Awards
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Performance-Based Equity Awards
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	Grant Date
	Award ID 
	Type of Equity Award
	Number of
Units Awarded at Grant Date*
	Number of Units Fully Vested as of
Termination Date
	Number of Unvested Units as of
Termination Date

	2/25/2021
	30059
	Class D Unit
	16557
	0
	16557

	2/25/2021
	30059D
	Class D Unit
	4967
	0
	4967

	1/1/2022
	40006D
	Class D Unit
	1396
	0
	1396

	1/1/2022
	40006
	Class D Unit
	4654
	0
	4654

	3/4/2022
	40040D
	Class D Unit
	2,100
	0
	2,100

	3/4/2022
	40040
	Class D Unit
	7,002
	0
	7,002

* The number of performance-based units are listed at “target” amounts as of the Grant Date and will be updated upon completion of the relevant Performance Period.
 
Time-Based Equity Awards
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	Grant Date
	Award ID 
	Type of Equity Award
	Number of
Units Awarded at Grant Date
	Number of Vested Units as of
Termination Date
	Number of Unvested Units as of
Termination Date

	2/1/2017
	11018242767
	Restricted Stock Units
	57888
	57888
	0

	2/1/2018
	11018243132
	Restricted Stock Units
	47826
	47826
	0

	2/1/2019
	11018243497
	Restricted Stock Units
	58130
	58130
	0

	2/1/2020
	11018243862
	Restricted Stock Units
	24539
	24539
	0

	2/25/2021
	30068
	Profits Interest Unit
	7981
	1995
	5986

	1/1/2022
	FIDLOJ18S1YTN
	Profits Interest Unit
	7350
	0
	7350

​

​

​

Exhibit C
Employee Confidentiality and Covenant Agreement
(See Attached)
​

​

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GENERAL RELEASE OF CLAIMS
In consideration of the benefits set forth in the Transition and Consulting Agreement, dated July 26, 2022 between the undersigned, Digital Realty Trust, Inc., and DLR LLC (“Agreement”), and for other valuable consideration, the receipt and adequacy of which are hereby acknowledged, the undersigned does hereby release and forever discharge the “Releasees” hereunder, consisting of Digital Realty Trust, Inc., a Maryland corporation, Digital Realty Trust, L.P., a Maryland limited partnership, and DLR LLC, a Maryland limited liability company (collectively, the “Company”), each of their subsidiaries and affiliates, and, in their capacity as such, each of their predecessors, successors, partners, directors, officers, employees, attorneys, contractors, assurers, assigns and agents of and from any and all manner of action or actions, cause or causes of action, in law or in equity, suits, debts, liens, contracts, agreements, promises, liability, claims, demands, damages, losses, costs, attorneys’ fees, or expenses, of any nature whatsoever, known or unknown, fixed or contingent (hereinafter called “Claims”), which the undersigned now has or may hereafter have against the Releasees, or any of them, by reason of any matter, cause, or thing whatsoever from the beginning of time to the date hereof.
The Claims released herein include, without limiting the generality of the foregoing, any Claims in any way arising out of, based upon, or related to the service relationship, employment, or termination of service or employment of the undersigned; any alleged breach of any express or implied contract of employment or other service; any alleged torts or other alleged legal restrictions on the Releasees’ rights to terminate the employment or other service of the undersigned; and any alleged violation of any federal, state, or local statute or ordinance including, without limitation, the Age Discrimination in Employment Act, as amended, 29 U.S.C. § 621, et seq.; Title VII of the Civil Rights Act of 1964, as amended by the Civil Rights Act of 1991, 42 U.S.C. § 2000 et seq.; the Equal Pay Act, 29 U.S.C. § 206(d); the Civil Rights Act of 1866, 42 U.S.C. § 1981; the Family and Medical Leave Act of 1993, as amended, 29 U.S.C. § 2601 et seq.; the Americans with Disabilities Act of 1990, as amended, 42 U.S.C. § 12101 et seq.; the False Claims Act, as amended, 31 U.S.C. § 3729 et seq.; the Employee Retirement Income Security Act, as amended, 29 U.S.C. § 1001 et seq.; the Fair Labor Standards Act, as amended, 29 U.S.C. § 215 et seq.; the Sarbanes-Oxley Act of 2002; the Worker Adjustment Notification and Retaining Act; the California Labor Code (e.g., Sections 132a, 4553 et seq.); the California Fair Employment and Housing Act, as amended; the California Family Rights Act, as amended; the California Worker Adjustment Notification and Retraining Act; and all other federal, state, and local employment and civil rights laws. 
Notwithstanding the foregoing, this Release shall not be construed in any way to operate to release any rights or Claims of the undersigned (i) to payments and benefits under the Agreement, (ii) to payments or benefits under any agreement between the undersigned and the Company evidencing outstanding stock options, profits interest units, or other equity-based awards in the Company held by the undersigned, (iii) to accrued or vested benefits the undersigned may have, if any, as of the date hereof under any applicable plan, policy, practice, program, contract, or agreement with the Company, (iv) for indemnification and/or advancement of expenses, arising under any indemnification agreement between the undersigned and the Company or under the bylaws, certificate of incorporation, or other similar governing document of the Company, (v) to any rights or benefits that may not be waived pursuant to applicable law, including, without limitation, any right to unemployment insurance benefits, or (vi) to bring to the attention of the 

​

US-DOCS\102937527.1

​

Equal Employment Opportunity or California Department of Fair Employment and Housing claims of discrimination, harassment, or retaliation, or (vii) to communicate directly with, cooperate with or provide information to, any federal, state, or local government regulator; provided, however, that the undersigned does release the undersigned’s right to secure damages for any alleged discriminatory, harassing, or retaliatory treatment (except that nothing in this Release shall be interpreted to prohibit or prevent the undersigned from recovering an award for filing or participating in any whistleblower complaint filed with the Securities and Exchange Commission or providing information to any other government agency).
THE UNDERSIGNED ACKNOWLEDGES THAT THEY HAVE BEEN ADVISED TO SEEK INDEPENDENT LEGAL ADVICE PRIOR TO ACCEPTING THIS RELEASE AND HAVE BEEN, OR HAVE HAD THE OPPORTUNITY TO BE, ADVISED BY LEGAL COUNSEL AND IS FAMILIAR WITH THE PROVISIONS OF CALIFORNIA CIVIL CODE SECTION 1542, WHICH PROVIDES AS FOLLOWS:
“A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS THAT THE CREDITOR OR RELEASING PARTY DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE AND THAT, IF KNOWN BY HIM OR HER, WOULD HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR OR RELEASED PARTY.” 
THE UNDERSIGNED, BEING AWARE OF SAID CODE SECTION, HEREBY EXPRESSLY WAIVES ANY RIGHTS HE MAY HAVE THEREUNDER, AS WELL AS UNDER ANY OTHER STATUTES OR COMMON LAW PRINCIPLES OF SIMILAR EFFECT. In connection with such waiver and relinquishment, the undersigned hereby acknowledges that he may hereafter discover claims or facts in addition to, or different from, those which he now knows or believes to exist, but that he expressly agrees to fully, finally, and forever settle and release any and all claims, known or unknown, suspected or unsuspected, which exist or may exist on his behalf against the Company and/or Releasees at the time of execution of this Release.
This Release is intended to satisfy the requirements of the Older Workers Benefit Protection Act, 29 U.S.C. § 626(f).
Undersigned acknowledges and agrees that (a) Undersigned has read and understands the terms of this Release; (b) Undersigned has been given twenty-one (21) days to consider whether or not to enter into this Release (although Undersigned may elect not to use the full 21-day period at Undersigned’s option); and (c) by signing this Release, Undersigned specifically acknowledges and agrees that Undersigned knowingly and voluntarily waives all rights or claims arising under the Age Discrimination in Employment Act of 1967. This Release does not waive or release any rights or claims that Undersigned may have under the Age Discrimination in Employment Act that arise after the execution of this Release.

​

​

​

Undersigned may revoke Undersigned’s acceptance of this Release within seven (7) calendar days after the date Undersigned signs it. Undersigned’s revocation must be in writing and received by Jeannie Lee, EVP, General Counsel at jlee@digitalrealty.com, or 5707 Southwest Parkway, Building 1, Suite 275, Austin, TX 78735, before the eighth day (from Undersigned’s date of execution of this Release) in order to be effective (“Revocation Period”). If mailed, the revocation must be properly addressed to the above addressee and postmarked no later than the last day of the Revocation Period. If Undersigned does not revoke acceptance of this Release within the Revocation Period, Undersigned’s acceptance of this Release shall become binding and enforceable on the eighth day (“Effective Date”).
IN WITNESS WHEREOF, the undersigned has executed this Release on July 26, 2022.
​
/s/ David Ruberg​ ​
David Ruberg

​

​Document

EMPLOYMENT AGREEMENT

            THIS EMPLOYMENT AGREEMENT (“Agreement”) is effective as of the 11th day of July 2022 (the “Effective Date”), by and between Energy Fuels Resources (USA) Inc., a Delaware corporation (“EFRI”), Energy Fuels Inc., an Ontario corporation (“EFI”) (EFRI and EFI are collectively referred to herein as the “Company”) and Tom L. Brock (“Employee”).

            In consideration of the agreements contained in this Agreement, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Company and Employee hereby agree as follows:

ARTICLE 1
EMPLOYMENT, REPORTING AND DUTIES

1.1.    Employment.  The Company hereby employs and engages the services of Employee to serve initially as an employee and, effective upon appointment by the Board, as Chief Financial Officer, and Employee agrees to diligently and competently serve as and perform these functions for the compensation and benefits stated herein.  A copy of Employee’s job description as Chief Financial Officer is attached hereto as Exhibit A, and Company and Employee agree and acknowledge that, subject to Section 4.2(b), Company retains the right to reasonably add to, or remove, duties and responsibilities set forth in that job description as business or other operating reasons may arise for changes to occur.  It is understood that, as Chief Financial Officer, Employee will be appointed an officer of EFI and EFRI under this Agreement, but that Employee’s direct employment relationship will be as an employee of EFRI.

1.2.    Fulltime Service.  Excluding any periods of vacation and sick leave to which Employee may be entitled, Employee agrees to devote Employee’s full time and energies to the responsibilities with the Company consistent with past practice and shall not, during the Term of this Agreement, be engaged in any business activity which would interfere with or prevent Employee from carrying out Employee’s duties under this Agreement.

ARTICLE 2
COMPENSATION AND RELATED ITEMS

2.1.    Compensation.

As compensation and consideration for the services to be rendered by Employee under this Agreement, the Company agrees to pay Employee and Employee agrees to accept:

(a)    Base Salary and Benefits.  A base salary (“Base Salary”) of $340,000 per annum, less required tax withholding, which shall be paid in accordance with the Company’s standard payroll practice.  Employee’s Base Salary may be increased from time to time (but not decreased, including after any increase, without Employee’s written consent), at the discretion of the Company, and after any such change, Employee’s new level of Base Salary shall be Employee’s Base Salary for purposes of this Agreement until the effective date of any subsequent change.  Employee shall also receive benefits such as health insurance, vacation and other benefits consistent with the then applicable Company benefit plans to the same extent as other employees of the Company with similar position or level.  Employee understands and 

agrees that, subject to Sections 2.1(b) and (c) below, Company’s benefit plans may, from time to time, be modified or eliminated at Company’s discretion.

(b)    Cash Bonus.  A cash bonus opportunity (the “Cash Bonus”) during each calendar year with a target (the “Target Cash Bonus”) equal to forty percent (40)% (the “Target Cash Bonus Percentage”) of Employees’ Base Salary for the year in which the cash bonus is paid, such cash bonus to be paid in accordance with the Company’s existing Short Term Incentive Plan, as such plan may be amended or replaced from time to time, or the equivalent (the “STIP”).  Pursuant to the terms of the STIP, each annual Cash Bonus shall be payable based on the achievement of performance goals, and may be higher or lower than the Target Cash Bonus based on achievement of those goals.  For each calendar year during the term of this Agreement, the Board (or the Compensation Committee) of EFI will determine and will establish in writing (i) the applicable STIP performance goals, which shall be reasonably achievable and if achieved would result in payment of the Target Cash Bonus, (iii) the percentage of annual Base Salary to be payable to Employee if some lesser or greater percentage of the annual STIP performance goals are achieved, and (iv) such other applicable terms and conditions of the STIP necessary to satisfy the requirements of Section 409A (“Section 409A”) of the Internal Revenue Code of 1986, as amended (the "Code"); and 

(c)    Equity Award.  An equity award opportunity (the “Equity Award”) during each calendar year with a target value (the “Target Equity Award”) equal to seventy-five percent (75)% (the “Target Equity Award Percentage”) of Employee’s Base Salary for the year in which the award is granted, such equity award to be awarded in accordance with the Company’s existing Long Term Incentive Plan, as such plan may be amended or replaced from time to time, or the equivalent (the “LTIP”).  Pursuant to the terms of the LTIP, each annual equity award shall be made based on the achievement of performance goals, and may be higher or lower than the Target Equity Award based on achievement of those goals.  For each calendar year during the term of this Agreement, the Board (or the Compensation Committee) of EFI will determine and will establish in writing (i) the applicable LTIP performance goals, which shall be reasonably achievable and if achieved would result in payment of the Target Equity Award, (iii) the percentage of annual Base Salary value to be awarded in equity to Employee if some lesser or greater percentage of the annual LTIP performance goals are achieved, and (iv) such other applicable terms and conditions of the LTIP necessary to satisfy the requirements of Section 409A of the Code.

2.2.    Annual Medical.  The Company will reimburse Employee for the cost of a comprehensive annual medical examination for each year of this Agreement, provided that Employee requests such reimbursement and such reimbursement is made no later than the last day of the calendar year following the calendar year in which the examination expense was incurred.  Employee will promptly notify the President & CEO if the annual medical examination reveals any condition which, if untreated, is likely to interfere with Employee’s ability to perform the essential requirements of his or her position, and if requested by the President & CEO, Employee will provide the details of the condition and the potential impact on his or her ability to perform the essential requirements of his or her position to enable the President & CEO to determine how best to accommodate Employee and protect the critical business interests of the Company. 

2.3.    Expenses.  The Company agrees that Employee shall be allowed reasonable and necessary business expenses in connection with the performance of Employee’s duties within the guidelines established by the Company as in effect at any time with respect to key employees (“Business Expenses”), including, but not limited to, reasonable and necessary expenses for food, travel, lodging, entertainment and other items in the promotion of the Company within such guidelines.  The Company shall promptly reimburse Employee for all reasonable Business Expenses incurred by Employee upon Employee’s presentation to the Company of an itemized account thereof, together with receipts, vouchers, or other supporting documentation.   

2.4.    Vacation.  Employee will be entitled to five weeks of vacation each year, in addition to the 10 paid holidays each year.  Carry over from one year to the next will be as per the Company’s paid leave policy.

2.5.    Use of Company Vehicle. Employee will be provided the full-time use of a suitable vehicle for travel between the Lakewood office and home as well as for business travel to filed sites as required, or the equivalent. 

ARTICLE 3
TERMINATION

3.1.    Term.  Employee’s employment under this Agreement shall commence on the Effective Date and will end on the date (the “Initial Expiration Date”) that is the second anniversary of the Effective Date, unless terminated sooner under the provisions of this Article, or extended under the terms of this Section.  If neither Company nor Employee provides written notice of intent not to renew this Agreement by ninety (90) days prior to the Initial Expiration Date, this Agreement shall be automatically renewed for twelve (12) additional months, and if neither Company nor Employee provides written notice of intent not to renew this Agreement prior to ninety (90) days before the end of such additional 12-month period, this Agreement shall continue to be automatically renewed for successive additional 12-month periods until such time either Company or Employee provides written notice of intent not to renew prior to ninety (90) days before the end of any such renewal period.  

3.2.    Termination of Employment.  Except as may otherwise be provided herein, Employee’s employment under this Agreement may terminate upon the occurrence of:

(a)    Notice by Company.  The termination date specified in a written notice of termination that is given by the Company to Employee;

(b)    Notice by Employee.  Thirty (30) days after written notice of termination is given by Employee to the Company;

(c)    Death or Disability.  Employee’s death or, at the Company’s option, upon Employee’s becoming disabled;

(d)    Deemed Termination Without Just Cause upon a Change of Control.  A deemed termination without just cause under Section 4.1(a) upon the occurrence of a Change of Control; or

(e)    Notice Not to Renew.  If the Company or Employee gives the other a notice not to renew this Agreement under Section 3.1, employment under this Agreement shall terminate at the close of business at the end of the Initial Expiration Date or at the end of the 12-month renewal period in which timely notice not to renew was given, as the case may be.  A notice by the Company not to renew shall be considered a notice of termination, resulting in the Company terminating Employee’s employment under this Agreement.

Any notice of termination given by the Company to Employee under Section 3.2(a) or (e) above shall specify whether such termination is with or without just cause as defined in Section 3.4.  Any notice of termination given by Employee to the Company under Section 3.2(b) above shall specify whether such termination is made with or without Good Reason as defined in Section 4.2(b).   

3.3.    Obligations of the Company Upon Termination.

(a)    With Just Cause/Without Good Reason.  If the Company terminates Employee’s employment under this Agreement with just cause as defined in Section 3.4, or if Employee terminates his employment without Good Reason as defined in Section 4.2(b), in either case whether before or after a Change of Control as defined in Section 4.2(a), then Employee’s employment with the Company shall terminate without further obligation by the Company to Employee, other than payment of all accrued obligations (“Accrued Obligations”), including outstanding Base Salary, accrued vacation pay and any other cash benefits accrued up to and including the date of termination.  That payment shall be made in one lump sum, less required tax withholding, within ten (10) working days after the effective date of such termination.  Employee will have up to the earlier of: (A) ninety (90) days from the effective date of termination of Employee’s employment; or (B) the date on which the exercise period of the particular stock option expires, to exercise only that portion of the stock options previously granted to Employee that have not been exercised, but which have vested, and thereafter Employee’s stock options will expire and Employee will have no further right to exercise the stock options.  Any stock options held by Employee that are not yet vested at the termination date immediately expire and are cancelled and forfeited to the Company on the termination date.  Any Restricted Stock Units (“RSUs”) held by Employee that have vested on or before the termination date shall be paid (or the shares issuable thereunder issued) to Employee.  Any RSUs held by Employee that are not vested on or before the termination date will be immediately cancelled and forfeited to the Company on the termination date.  The rights of Employee upon termination in respect of any Stock Appreciation Rights (“SARs”) or other awards granted to Employee under any of the Company’s equity compensation plans shall be as set forth in such plans or in the award agreement for any such awards, as applicable.  Notwithstanding the foregoing, on retirement, Employee will have up to the earlier of: (A) one hundred and eighty (180) days from the effective date of retirement; or (B) the date on which the exercise period of the particular stock option expires, to exercise only that portion of the stock options previously granted to Employee that have not been exercised, but which have vested, and thereafter Employee’s stock options will expire and Employee will have no further right to exercise the stock options.  

(b)    With Good Reason/Without Just Cause/Disabled/Death.  If Employee terminates Employee’s employment under this Agreement for Good Reason as defined in Section 4.2(b), or if the Company terminates Employee’s employment without just cause as 

defined in Section 3.4, or if the Company terminates Employee’s employment by reason of Employee becoming Disabled as defined in Section 3.5, or if Employee dies (in which case the date of Employee’s death shall be considered his or her termination date), in any case whether before or after a Change of Control as defined in Section 4.2(a), or if there is a deemed termination without just cause upon a Change of Control as contemplated by Section 4.1(a), then Employee’s employment with the Company shall terminate, as of the effective date of the termination, and in lieu of any other severance benefit that would otherwise be payable to Employee:
(i)    the Company shall pay the following amounts to Employee (or, in the case of termination by reason of Employee becoming Disabled or upon the death of Employee, to Employee’s legal representative or estate as applicable) after the effective date of such termination, or in a manner and at such later time as specified by Employee (or Employee’s legal representative), and agreed to by the Company, subject to being in compliance with Section 409A of the Code: 

(A)    all Accrued Obligations, less required tax withholding, up to and including the date of termination, to be paid on the date of termination of employment, or within no more than five (5) working days thereafter, and the Company will reimburse the Employee for all proper expenses incurred by the Employee in discharging his responsibilities to the Company prior to the effective date of termination of the Employee’s employment in accordance with Section 2.3 above; and

(B)    an amount in cash equal to two (2.0) (the “Severance Factor”) times the sum of Employee’s Base Salary and Target Cash Bonus for the full year in which the Date of Termination occurs, less required tax withholding, such amount to be paid within thirty (30) calendar days after the date Employee signs the Release contemplated by Section 3.7;

(ii)    Employee or Employee’s legal representative will have up to the earlier of: (A) ninety (90) days from the effective date of termination of Employee’s employment for all cases other than the death of Employee and twelve (12) months from the effective date of termination of Employee’s employment in the case of death of Employee; or (B) the date on which the exercise period of the particular stock option expires, to exercise only that portion of the stock options previously granted to Employee that have not been exercised, but which have vested, and thereafter Employee’s stock options will expire and Employee or his or her legal representative will have no further right to exercise the stock options.  Subject to Section 4.1(c), any stock options held by Employee that are not yet vested at the termination date immediately expire and are cancelled and forfeited to the Company on the termination date.  Any RSUs held by Employee that have vested on or before the termination date shall be paid (or the shares issuable thereunder issued) to Employee or his or her legal representative or estate as applicable.  Subject to Section 4.1(c), any RSUs held by Employee that are not vested on or before the termination date will be immediately cancelled and forfeited to the Company on the termination date.  Subject to Section 4.1(c), the rights of Employee or his or her legal representative or estate as applicable upon termination in respect of any SARs or other awards granted to Employee under any of the Company’s equity 

compensation plans shall be as set forth in such plans or in the award agreement for any such awards, as applicable;

(iii)    Upon termination, the Company or its Successor (as defined in Section 4.1(a)), agrees to reimburse Employee the full cost of the COBRA continuation rate charged for employee and dependent coverage, through the EFRI Health and Welfare Plan on a monthly basis, for a period of months equal to twelve times the Severance Factor (the “Coverage Period”), beyond Employee’s termination month.  Employee and his or her dependents may, at their choosing, enroll in the COBRA continuation plan through EFRI for the first eighteen months following Employee’s termination month or, if they choose, they may enroll in a separate plan of their choosing, by using the reimbursement to enroll in medical and prescription insurance of their choosing.  Reimbursement at the rate described herein will continue for the Coverage Period beyond Employee’s termination month, but beginning with the nineteenth month, Employee and his or her dependents will need to obtain coverage from a different source than the COBRA continuation plan through EFRI.  The reimbursement will be to Employee and his or her dependents directly, and will be grossed up so that there is no negative tax impact to the Employee or his or dependents for coverage of the premiums charged by the insurance carriers for the COBRA continuation coverage for the current month of reimbursement.  The reimbursed cost of COBRA coverage will be indexed annually, and will match the rate charged for any month of coverage available by the insurance carrier for Medical, Dental, and Optical coverage through EFRI for employee and spouse coverage.  Both Employee and his or her dependents, will have the option of purchasing a medical plan separate from the plan offered by EFRI; and

(iv)    Nothing herein shall preclude the Company from granting additional severance benefits to Employee upon termination of employment.

Notwithstanding the foregoing, in the case of Disability, any Base Salary payable to Employee during the one hundred and eighty (180) day period of disability will be reduced by the amount of any disability benefits Employee receives or is entitled to receive as a result of any disability insurance policies for which the Company has paid the premiums.

(c)    Section 280G.  Notwithstanding any other provisions of this Agreement, or any other plan, arrangement or agreement to the contrary, if any of the payments or benefits provided or to be provided by the Company or its affiliates to Employee or for Employee’s benefit pursuant to the terms of this Agreement or otherwise (“Covered Payments”) constitute “parachute payments” within the meaning of Section 280G of the Code and would, but for this Section 3.3(c) be subject to the excise tax imposed under Section 4999 of the Code (or any successor provision thereto) or any similar tax imposed by state or local law or any interest or penalties with respect to such taxes (collectively, the “Excise Tax”), then the following shall apply:
(i)    If the Covered Payments, reduced by the sum of (1) the Excise Tax and (2) the total of the Federal, state, and local income and employment taxes payable by Employee on the amount of the Covered Payments which are in excess of three times Employee’s “base amount” within the meaning of Section 280(G) of the Code less one dollar (the “Threshold Amount”), are greater than or equal to the Threshold Amount, Employee shall be entitled to the full benefits payable under this Agreement; and

(ii)    If the Threshold Amount is less than (1) the Covered Payments, but greater than (2) the Covered Payments reduced by the sum of (x) the Excise Tax and (y) the total of the Federal, state, and local income and employment taxes on the amount of the Covered Payments which are in excess of the Threshold Amount, then the Covered Payments shall be reduced (but not below zero) to the extent necessary so that the sum of all Covered Payments shall not exceed the Threshold Amount.  In such event, the Covered Payments shall be reduced in the following order:  (A) cash payments not subject to Section 409A; (B) cash payments subject to Section 409A; (C) equity-based payments and acceleration; and (D) non-cash forms of benefits.  To the extent any payment is to be made over time (e.g., in installments, etc.), then the payments shall be reduced in reverse chronological order.

The determination as to which of the alternative provisions of Section 3.3(c)(ii) shall apply to Employee shall be made by a nationally recognized accounting firm selected by the Company (the “Accounting Firm”), which shall provide detailed supporting calculations both to the Company and Employee within 15 business days of the date of termination, if applicable, or at such earlier time as is reasonably requested by the Company or  Employee.  For purposes of determining which of the alternative provisions of Section 3.3(c)(ii) shall apply, Employee shall be deemed to pay Federal income taxes at the highest marginal rate of Federal income taxation applicable to individuals for the calendar year in which the determination is to be made, and state and local income taxes at the highest marginal rates of individual taxation in the state and locality of Employee’s residence on the date of termination, net of the maximum reduction in Federal income taxes which could be obtained from deduction of such state and local taxes.  Any determination by the Accounting Firm shall be binding upon the Company and Employee.

3.4.    Definition of Just Cause.  

As used in this Agreement, the term “just cause” will mean any one or more of the following events:

(a)    theft, fraud, dishonesty, or misappropriation by Employee involving the property, business or affairs of the Company or the discharge of Employee’s responsibilities or the exercise of his or her authority;

(b)    willful misconduct or the willful failure by Employee to properly discharge his or her responsibilities or to adhere to the policies of the Company;

(c)    Employee’s gross negligence in the discharge of his or her responsibilities or involving the property, business or affairs of the Company to the material detriment of the Company;

(d)    Employee’s conviction of a criminal or other statutory offence that constitutes a felony or which has a potential sentence of imprisonment greater than six (6) months or Employee’s conviction of a criminal or other statutory offence involving, in the sole discretion of the Board of Directors of EFI, moral turpitude;

(e)    Employee’s material breach of a fiduciary duty owed to the Company;

(f)    any material breach by Employee of the covenants contained in Articles 5 or 6 below;

(g)    Employee’s unreasonable refusal to follow the lawful written direction of the President and Chief Executive Officer of the Company on any material matter;

(h)    any conduct of Employee which, in the reasonable opinion of the President and Chief Executive Officer of the Company or Board of Directors of EFI, is materially detrimental or embarrassing to the Company; or

(i)    any other conduct by Employee that would constitute “just cause” as that term is defined at law.

The Company must provide written notice to Employee prior to termination for just cause pursuant to Section 3.4 (c), (f), (g), (h), or (i) and provide Employee the opportunity to correct and cure the failure within thirty (30) days from the receipt of such notice.  If the parties disagree as to whether the Company had just cause to terminate the Employee’s employment, the dispute will be submitted to binding arbitration pursuant to Section 7.10 below.

3.5.    Definition of Disabled.  As used herein, “Disabled” shall mean a mental or physical impairment which, in the reasonable opinion of a qualified doctor selected by mutual agreement of the Company and Employee acting reasonably, renders Employee unable, with reasonable accommodation, to perform with reasonable diligence the essential functions and duties of Employee on a full-time basis in accordance with the terms of this Agreement, which inability continues for a period of not less than 180 consecutive days.  The providing of service to the Company for up to two (2) three (3) day periods during the one hundred and eighty (180) day period of disability will not affect the determination as to whether Employee is Disabled and will not restart the one hundred and eighty (180) day period of disability.  If any dispute arises between the parties as to whether Employee is Disabled, Employee will submit to an examination by a physician selected by the mutual agreement of the Company and Employee acting reasonably, at the Company’s expense.  The decision of the physician will be certified in writing to the Company, and will be sent by the Physician to Employee or Employee’s legally authorized representative, and will be conclusive for the purposes of determining whether Employee is Disabled.  If Employee fails to submit to a medical examination within twenty (20) days after the Company’s request, Employee will be deemed to have voluntarily terminated his or her employment.

3.6.    Return of Materials; Confidential Information.  In connection with Employee’s separation from employment for any reason, Employee shall return any and all physical property belonging to the Company, and all material of whatever type containing “Confidential Information” as defined in Section 5.2 below, including, but not limited to, any and all documents, whether in paper or electronic form, which contain Confidential Information, any customer information, production information, manufacturing-related information, pricing information, files, memoranda, reports, pass codes/access cards, training or other reference manuals, Company vehicle, telephone, gas cards or other Company credit cards, keys, computers, laptops, including any computer disks, software, facsimile machines, memory devices, printers, telephones, pagers or the like.

3.7.    Delivery of Release.  Within ten (10) working days after termination of Employee’s employment, and as a condition for receipt of payments set forth in Section 3.3(b)(i)(B), 3.3(b)(iii), and 4.1(a), the Company shall provide to Employee, or Employee’s legal representative, a form of written release, which form shall be satisfactory to the Company and generally consistent with the form of release used by the Company prior to such termination of employment (the “Release”) and which shall provide a full release of all claims against the Company and its corporate affiliates, except where Employee has been named as a defendant in a legal action arising out of the performance of Employee’s responsibilities in which case the Release will exempt any claims which Employee or his or her legal representative or estate may have for indemnity by the Company with respect to any such legal action.  As a condition to the obligation of the Company to make the payments provided for in such Sections Employee, or Employee’s legal representative, shall execute and deliver the Release to the Company within the time periods provided for in said release.

ARTICLE 4
CHANGE OF CONTROL

4.1.    Effect of Change of Control.  In the event of a Change of Control of EFI during the term of this Agreement, or any renewal of this Agreement the following provisions shall apply:

(a)    If upon the Change of Control

(i)    Employee is not retained by EFI or its successor (whether direct or indirect, by purchase of assets, merger, consolidation, exchange of securities, amalgamation, arrangement or otherwise) to all or substantially all of the business and/or assets of EFI (“Successor”) on the same terms and conditions as set out in this Agreement and in circumstances that would not constitute Good Reason (where Good Reason is determined by reference to Employee’s employment status prior to the Change of Control and prior to any other event that could constitute Good Reason); and/or 

(ii)    any such Successor does not, by agreement in form and substance satisfactory to Employee, expressly assume and agree to perform this Agreement in the same manner and to the same extent that EFI would be required to perform it if no such succession had taken place,

then Employee shall be deemed to be terminated without just cause upon such Change of Control and shall be entitled to the compensation and all other rights specified in Article 3 in the same amount and on the same terms as if terminated without just cause as set out therein, subject to the additional rights set out in paragraph (c) below;

(b)    All rights of Employee in this Agreement, including without limitation all rights to severance and other rights upon a termination with or without cause, with or without Good Reason, upon a disability or upon death under Article 3 of this Agreement shall continue after a Change of Control in the same manner as before the Change of Control, subject to the additional rights set out in paragraph (c) below;

(c)    if, 

(i)    there is a deemed termination without cause under Section 4.1(a); or

(ii)    within twelve (12) months following the effective date of the Change of Control, EFI, or its successor, terminates the employment of Employee without just cause or by reason of Disability, or Employee terminates his or her employment under this Agreement for Good Reason,

then, in addition to the other rights Employee has under this Agreement, and notwithstanding any other provision in this Agreement, all of the stock options previously granted to Employee that have neither vested nor expired will automatically vest and become immediately exercisable, any period of restriction and other restrictions imposed on all RSUs shall lapse, and all RSUs shall be immediately settled and payable, the rights of Employee or his legal representative or estate as applicable upon termination in respect of any SARs previously granted to Employee shall be as set forth in the award agreement for any such SARs, and all other securities awarded shall vest and/or accelerate in accordance with Article 15 of the 2021 EFI Omnibus Equity Incentive Plan, as amended from time to time, or the comparable provisions of any other equity incentive plan under which such securities may have been issued.  Employee will have ninety (90) days from the effective date of the termination of Employee’s employment to exercise any stock options which had vested as of the effective date of termination and thereafter Employee’s stock options will expire and Employee will have no further right to exercise the stock options.

4.2.    Definitions of Change of Control and Good Reason.  For the purposes of this Agreement,

(a)    “Change of Control” will mean the happening of any of the following events:

(i)    any transaction at any time and by whatever means pursuant to which (A) EFI goes out of existence by any means, except for any corporate transaction or reorganization in which the proportionate voting power among holders of securities of the entity resulting from such corporate transaction or reorganization is substantially the same as the proportionate voting power of such holders of EFI voting securities immediately prior to such corporate transaction or reorganization or (B) any Person (as defined in the Securities Act (Ontario)) or any group of two or more Persons acting jointly or in concert (other than EFI, a wholly-owned Subsidiary of EFI, an employee benefit plan of EFI or of any of its wholly-owned Subsidiaries (as defined in the Securities Act (Ontario)), including the trustee of any such plan acting as trustee) hereafter acquires the direct or indirect “beneficial ownership” (as defined by the Business Corporations Act (Ontario)) of, or acquires the right to exercise control or direction over, securities of EFI representing 50% or more of EFI’s then issued and outstanding securities in any manner whatsoever, including, without limitation, as a result of a take-over bid, an exchange of securities, an amalgamation of EFI with any other entity, an arrangement, a capital reorganization or any other business combination or reorganization;

(ii)    the sale, assignment or other transfer of all or substantially all of the assets of EFI in one or a series of transactions, whether or not related, to a Person or any group of two or more Persons acting jointly or in concert, other than a wholly-owned Subsidiary of EFI; 

(iii)    the dissolution or liquidation of EFI except in connection with the distribution of assets of EFI to one or more Persons which were wholly-owned Subsidiaries of EFI immediately prior to such event; 

(iv)    the occurrence of a transaction requiring approval of EFI’s shareholders whereby EFI is acquired through consolidation, merger, exchange of securities, purchase of assets, amalgamation, arrangement or otherwise by any other Person (other than a short form amalgamation or exchange of securities with a wholly-owned Subsidiary of EFI); 

(v)    a majority of the members of the Board of Directors of EFI are replaced or changed as a result of or in connection with any: (A) take-over bid, consolidation, merger, exchange of securities, amalgamation, arrangement, capital reorganization or any other business combination or reorganization involving or relating to EFI; (B) sale, assignment or other transfer of all or substantially all of the assets of EFI in one or a series of transactions, or any purchase of assets; or (C) dissolution or liquidation of EFI;

(vi)    during any two-year period, a majority of the members of the Board of Directors of EFI serving at the date of this Agreement is replaced by directors who are not nominated and approved by the Board of Directors of EFI;

(vii)    an event set forth in (i), (ii), (iii), (iv), (v) or (vi) has occurred with respect to EFRI or any of its direct or indirect parent companies, in which case the term “EFI” in those paragraphs will be read to mean “EFRI or such parent company” and the phrase “wholly-owned Subsidiary(ies)” will be read to mean “Affiliate(s) or wholly-owned Subsidiary(ies)”; or

(viii)    the Board of Directors of EFI passes a resolution to the effect that, an event set forth in (i), (ii), (iii), (iv), (v), (vi) or (vii) above has occurred.  

(b)    “Good Reason” means, without the written agreement of Employee, there is:
(i)    a material reduction or diminution in the level of responsibility, or office of Employee, provided that before any claim of material reduction or diminution of responsibility may be relied upon by Employee, Employee must have provided written notice to Employee’s supervisor and the EFI’s Board of Directors of the alleged material reduction or diminution of responsibility and have given EFI at least thirty (30) calendar days within which to cure the alleged material reduction or diminution of responsibility; 

(ii)    a reduction in the Employee’s Base Salary, Target Cash Bonus Percentage or Target Equity Award Percentage; or

(iii)    a proposed, forced relocation of Employee to another geographic location greater than fifty (50) miles from Employee’s office location at the time a move is requested after a Change of Control.
 
ARTICLE 5
CONFIDENTIALITY

5.1.    Position of Trust and Confidence.  Employee acknowledges that in the course of discharging his or her responsibilities, he or she will occupy a position of trust and confidence with respect to the affairs and business of the Company and its customers and clients, and that he or she will have access to and be entrusted with detailed confidential information concerning the present and contemplated mining and exploration projects, prospects, and opportunities of the Company.  Employee acknowledges that the disclosure of any such confidential information to the competitors of the Company or to the general public would be highly detrimental to the best interests of the Company.  Employee further acknowledges and agrees that the right to maintain such detailed confidential information constitutes a proprietary right which the Company is entitled to protect.

5.2.    Definition of Confidential Information.  In this Agreement, “Confidential Information” means any information disclosed by or on behalf of the Company to Employee or developed by Employee in the performance of his or her responsibilities at any time before or after the execution of this Agreement, and includes any information, documents, or other materials (including, without limitation, any drawings, notes, data, reports, photographs, audio and/or video recordings, samples and the like) relating to the business or affairs of the Company or its respective customers, clients or suppliers that is confidential or proprietary, whether or not such information:

(i)    is reduced to writing;

(ii)    was created or originated by an employee; or

(iii)    is designated or marked as “Confidential” or “Proprietary” or some other designation or marking.  

The Confidential Information includes, but is not limited to, the following categories of information relating to the Company:

(a)    information concerning the present and contemplated mining, milling, processing and exploration projects, prospects and opportunities, including joint venture projects, of the Company;

(b)    information concerning the application for permitting and eventual development or construction of the Company’s properties, the status of regulatory and environmental matters, the compliance status with respect to licenses, permits, laws and regulations, property and title matters and legal and litigation matters; 

(c)    information of a technical nature such as ideas, discoveries, inventions, improvements, trade secrets, now-how, manufacturing processes, specifications, writings and other works of authorship;

(d)    financial and business information such as the Company’s business and strategic plans, earnings, assets, debts, prices, pricing structure, volume of purchases or sales, production, revenue and expense projections, historical financial statements, financial projections and budgets, historical and projected sales, capital spending budgets and plans, or other financial data whether related to the Company’s business generally, or to particular products, services, geographic areas, or time periods;

(e)    supply and service information such as goods and services suppliers’ names or addresses, terms of supply or service contracts of particular transactions, or related information about potential suppliers to the extent that such information is not generally known to the public, and to the extent that the combination of suppliers or use of a particular supplier, although generally known or available, yields advantages to the Company, the details of which are not generally known;

(f)    marketing information, such as details about ongoing or proposed marketing programs or agreements by or on behalf of the Company, sales forecasts or results of marketing efforts or information about impending transactions;

(g)    personnel information relating to employees, contractors, or agents, such as personal histories, compensation or other terms of employment or engagement, actual or proposed promotions, hirings, resignations, disciplinary actions, terminations or reasons therefor, training methods, performance, or other employee information;

(h)    customer information, such as any compilation of past, existing or prospective customer’s names, addresses, backgrounds, requirements, records of purchases and prices, proposals or agreements between customers and the Company, status of customer accounts or credit, or related information about actual or prospective customers;

(i)    computer software of any type or form and in any stage of actual or anticipated development, including but not limited to, programs and program modules, routines and subroutines, procedures, algorithms, design concepts, design specifications (design notes, annotations, documentation, float charts, coding sheets, and the like), source codes, object code and load modules, programming, program patches and system designs; and

(j)    all information which becomes known to Employee as a result of Employee’s employment by the Company, which Employee acting reasonably, believes or ought to believe is confidential or proprietary information from its nature and from the circumstances surrounding its disclosure to Employee.

5.3.    Non-Disclosure.  Employee, both during his or her employment and for a period of five (5) years after the termination of his or her employment irrespective of the time, manner or cause of termination, will:

(a)    retain in confidence all of the Confidential Information;

(b)    refrain from disclosing to any person including, but not limited to, customers and suppliers of the Company, any of the Confidential Information except for the purpose of carrying out Employee’s responsibilities with the Company, and

(c)    refrain from directly or indirectly using or attempting to use such Confidential Information in any way, except for the purpose of carrying out Employee’s responsibilities with the Company.

Employee shall deliver promptly to the Company, at the termination of Employee’s employment, or at any other time at the Company’s request, without retaining any copies, all documents and other material in Employee’s possession relating, directly or indirectly, to any Confidential Information.

It is understood that should Employee be subject to subpoena or other legal process to seek the disclosure of such Confidential Information, Employee will advise the Company of such process and provide the Company with the necessary information to seek to protect the Confidential Information.

5.4.    Whistleblower Laws.  The foregoing obligations of confidentiality set out in this Article 5 are subject to applicable whistleblower laws, which protect Employee’s right to provide information to governmental and regulatory authorities, including communications with the U.S. Securities and Exchange Commission about possible securities law violations.  Notwithstanding any other provision in this Agreement, Employee is not required to seek the Company’s permission or notify the Company of any communications made in compliance with applicable whistleblower laws, and the Company will not consider any such communications to violate this Agreement or any other agreement between Employer and the Company or any Company policy by which Employee is bound.
 
ARTICLE 6
NON-SOLICITATION

6.1.    Non-Solicitation.  Employee agrees that during the period (the “Non-Solicitation Period”) commencing on the date of this Agreement and ending twelve (12) months after the effective date of the termination of Employee’s employment irrespective of the time, manner or cause of termination, Employee will not, either individually or in partnership or jointly or in conjunction with any other person, entity or organization, as principal, agent, consultant, contractor, employer, employee or in any other manner, directly or indirectly:

(a)    solicit business from any customer, client or business relation of the Company, or prospective customer, client or business relation that the Company was actively soliciting, whether or not Employee had direct contact with such customer, client or business relation, for the benefit or on behalf of any person, firm or corporation operating a business which competes with the Company, or attempt to direct any such customer, client or business relation away from the Company or to discontinue or alter any one or more of their relationships with the Company; or

(b)    hire or offer to hire or entice away or in any other manner persuade or attempt to persuade any officer, employee, consultant, independent contractor, agent, licensee, 

supplier, or business relation of the Company to discontinue or alter any one of their relationships with the Company.

6.2.    Remedies for Breach of Restrictive Covenants.  Employee acknowledges that in connection with Employee’s employment he or she will receive or will become eligible to receive substantial benefits and compensation.  Employee acknowledges that Employee’s employment by the Company and all compensation and benefits from such employment will be conferred by the Company upon Employee only because and on the condition of Employee’s willingness to commit Employee’s best efforts and loyalty to the Company, including protecting the Company’s confidential information and abiding by the non-solicitation covenants contained in this Agreement.  Employee understands that his obligations set out in Article 5 and this Article 6 will not unduly restrict or curtail Employee’s legitimate efforts to earn a livelihood following any termination of his or her employment with the Company.  Employee agrees that the restrictions contained in Article 5 and this Article 6 are reasonable and valid and all defenses to the strict enforcement of these restrictions by the Company are waived by Employee.  Employee further acknowledges that a breach or threatened breach by Employee of any of the provisions contained in Article 5 or this Article 6 would cause the Company irreparable harm which could not be adequately compensated in damages alone.  Employee further acknowledges that it is essential to the effective enforcement of this Agreement that, in addition to any other remedies to which the Company may be entitled at law or in equity or otherwise, the Company will be entitled to seek and obtain, in a summary manner, from any Court having jurisdiction, interim, interlocutory, and permanent injunctive relief, specific performance and other equitable remedies, without bond or other security being required.  In addition to any other remedies to which the Company may be entitled at law or in equity or otherwise, in the event of a breach of any of the covenants or other obligations contained in this Agreement, the Company will be entitled to an accounting and repayment of all profits, compensation, royalties, commissions, remuneration or benefits which Employee directly or indirectly, has realized or may realize relating to, arising out of, or in connection with any such breach.  Should a court of competent jurisdiction declare any of the covenants set forth in Article 5 or this Article 6 unenforceable, the court shall be empowered to modify and reform such covenants so as to provide relief reasonably necessary to protect the interests of the Company and Employee and to award injunctive relief, or damages, or both, to which the Company may be entitled.

ARTICLE 7
GENERAL PROVISIONS

7.1.    Governing Law.  This Agreement shall be governed by and construed in accordance with the laws of the state of Colorado.

7.2.    Assignability.  This Agreement is personal to Employee and without the prior written consent of the Company shall not be assignable by Employee other than by will or the laws of descent and distribution.  This Agreement shall inure to the benefit of and be enforceable by Employee’s legal representatives and heirs.  This Agreement shall also inure to the benefit of and be binding upon the Company and its successors and assigns.  

7.3.    Withholding.  The Company may withhold from any amounts payable under this Agreement such federal, state or local taxes as shall be required to be withheld pursuant to any applicable law or regulation.

7.4.    Entire Agreement; Amendment.  This Agreement constitutes the entire agreement and understanding between Employee and the Company with respect to the subject matter hereof and, except as otherwise expressly provided herein, supersedes any prior agreements or understandings, whether written or oral, with respect to the subject matter hereof, including without limitation all employment, severance or change of control agreements previously entered into between Employee and the Company.  Except as may be otherwise provided herein, this Agreement may not be amended or modified except by subsequent written agreement executed by both parties hereto.

7.5.    Section 409A.  This Agreement is intended to comply with Section 409A to the extent Section 409A is applicable to this Agreement.  Notwithstanding any other provision of this Agreement to the contrary, this Agreement shall be interpreted, operated and administered by the Company in a manner consistent with such intention and to avoid the pre-distribution inclusion in income of amounts deferred under this Agreement and the imposition of any additional tax or interest with respect thereto.  Notwithstanding any other provision of this Agreement to the contrary, to the extent that any payment under this Agreement constitutes “nonqualified deferred compensation” under Section 409A, the following shall apply to the extent Section 409A is applicable to such payment:

(a)    Any payable that is triggered upon the Employee’s termination of employment shall be paid only if such termination of employment constitutes a “separation from service” under Section 409A; and

(b)    All expenses or other reimbursements paid pursuant to this Agreement that are taxable income to Employee shall be paid no later than the end of the calendar year next following the calendar year in which Employee incurs such expense.  With regard to any provision herein that provides for reimbursement of costs and expenses or in-kind benefits, except as permitted by Section 409A, (a) the right to reimbursement or in-kind benefits shall not be subject to liquidation or exchange for another benefit, (b) the amount of expenses eligible for reimbursement, or in-kind benefits, provided during any taxable year shall not affect the expenses eligible for reimbursement, or in-kind benefits to be provided, in any other taxable year; and (c) such payments shall be made on or before the last day of Employee’s taxable year following the taxable year in which the expense occurred.  For purposes of Section 409A, Employee’s right to receive installment payments of any severance amount, if applicable, shall be treated as a right to receive a series of separate and distinct payments.

In the event that Employee is deemed on the date of termination to be a “specified employee” as defined in Section 409A, then with regard to any payment or the provision of any benefit that is subject to Section 409A and is payable on account of a separation from service (as defined in Section 409A), such payment or benefit shall be delayed for until the earlier of (a) the first business day of the seventh calendar month following such termination of employment, or (b) Employee’s death.  Any payments delayed by reason of the prior sentence shall be paid in a single lump sum, without interest thereon, on the date indicated by the previous sentence and any remaining payments due under this Agreement shall be paid as otherwise provided herein.

7.6.    Multiple Counterparts. This Agreement may be executed in multiple counterparts, each of which shall constitute an original, but all of which together shall constitute one Agreement.

7.7.    Notices.  Any notice provided for in this Agreement shall be deemed delivered upon deposit in the United States mails, registered or certified mail, addressed to the party to whom directed at the addresses set forth below or at such other addresses as may be substituted therefor by notice given hereunder.  Notice given by any other means must be in writing and shall be deemed delivered only upon actual receipt.

If to the Company:

c/o Energy Fuels Resources (USA) Inc.
225 Union Blvd., Suite 600
Lakewood, CO 80228

Attention:  President and Chief Executive Officer  

If to Employee:

Tom L. Brock
6991 Winter Ridge Place
Castle Pines, CO 80108

7.8.    Waiver.  The waiver of any term or condition of this Agreement, or any breach thereof, shall not be deemed to constitute the waiver of the same or any other term or condition of this Agreement, or any breach thereof.

7.9.    Severability.  In the event any provision of this Agreement is found to be unenforceable or invalid, such provision shall be severable from this Agreement and shall not affect the enforceability or validity of any other provision of this Agreement.  If any provision of this Agreement is capable of two constructions, one of which would render the provision void and the other that would render the provision valid, then the provision shall have the construction that renders it valid.

7.10.    Arbitration of Disputes.  Except for disputes and controversies arising under Articles 5 or 6 or involving equitable or injunctive relief, any dispute or controversy arising under or in connection with this Agreement shall be conducted in accordance with the Colorado Rules of Civil Procedure and, unless the parties mutually agree on an arbitrator shall be arbitrated by striking from a list of potential arbitrators provided by the Judicial Arbiter Group in Denver, Colorado.  If the parties are unable to agree on an arbitrator, the arbitrator will be selected from a list of seven (7) potential arbitrators provided by the Judicial Arbiter Group in Denver.  The Company and Employee will flip a coin to determine who will make the first strike.  The parties will then alternate striking from the list until there is one arbitrator remaining, who will be the selected arbitrator.  Unless the parties otherwise agree and subject to the availability of the arbitrator, the arbitration will be heard within sixty (60) days following the appointment, and the decision of the arbitrator shall be binding on Employee and the Company and will not be subject to appeal.  Judgment may be entered on the arbitrator’s award in any court having jurisdiction.

7.11.    Currency.  Except as expressly provided in this Agreement, all amounts in this Agreement are stated and shall be paid in United States dollars ($US).

7.12.    Company’s Maximum Obligations.  The compensation set out in this Agreement represents the Company’s maximum obligations, and other than as set out herein, Employee will not be entitled to any other compensation, rights or benefits in connection with Employee’s employment or the termination of Employee’s employment.  

7.13.    Full Payment; No Mitigation Obligation.  The Company’s obligation to make the payments provided for in this Agreement and otherwise to perform its obligations hereunder shall be subject to any set-off, counterclaim, recoupment, defense or other claim, right or action which the Company may have against Employee.   

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

ENERGY FUELS INC.

By:      /s/ Mark S. Chalmers
Name:   Mark S. Chalmers
Title:    President and Chief Executive Officer

Date:   July 11, 2022

ENERGY FUELS RESOURCES (USA) INC.

By:      /s/ Mark S. Chalmers
Name:   Mark S. Chalmers
Title:    President and Chief Executive Officer

Date:   July 11, 2022

                                                                        /s/ Tom L. Brock
                                                                        Name:  Tom L. Brock
Title:    Chief Financial Officer
                                                                        Date:   July 11, 2022

EXHIBIT A
JOB DESCRIPTION

Employee shall be responsible for overseeing and managing the financial and accounting activities of Energy Fuels Inc. and its subsidiaries.

Essential duties and responsibilities include:
•as requested by the CEO, contributing to the development and achievement of strategic objectives for the Company
•overseeing the preparation and timely filing of the Company’ financial statements and MD&A in compliance with regulations and providing certification as required by applicable securities laws
•overseeing all technical accounting and SEC reporting matters
•overseeing the Company’s internal control procedures and integrated audit (SOX)
•overseeing the Company’s internal audit function
•overseeing the Company’s financial planning, analysis, budgeting and forecasting processes 
•overseeing management and cost accounting and the preparation of periodic reports to management
•overseeing risk management and insurance processes
•overseeing information technology systems and processes
•overseeing treasury, banking and cash management processes
•overseeing all U.S., Canadian and international tax planning, compliance and other tax matters
•along with the CEO, playing a key role in executing public and private market capital-raising initiatives
•as requested by the CEO, playing a role along with the CEO in developing and maintaining relationships with investment banking firms
•managing relationships with potential lenders to the Company
•as requested by the CEO, playing a role in the Company’s investor relations activities
•as requested by the CEO, assisting the CEO with the identification, negotiating and execution of M&A and/or similar transactions
•ensuring the Company has adequate financial, accounting and internal control software and systems in place to allow for the efficient and timely preparation of financial statements, management accounting reports, budgets and forecasts and for the performance of internal controls 
•ensuring the Company’s finance and accounting department is adequately staffed, with sufficient redundancy, and has job and process descriptions in place as required to accommodate staff vacancies, absences, leave and transitions as they may arise

Employee shall report to the President and Chief Executive Officer of the Company. This position will be located in the Lakewood, CO office with frequent travel as required.

Performance is to be based on Board-approved Performance Goals in accordance with the Company’s STIP and LTIP, which will be evaluated once per year.

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