Document:

Document

Exhibit 10.37

JOHNSON CONTROLS INTERNATIONAL PLC
2021 EQUITY AND INCENTIVE PLAN (THE “PLAN”)
RESTRICTED SHARE OR RESTRICTED SHARE UNIT AWARD AGREEMENT
 
Terms for Award of Restricted Shares and Restricted Share Units
 
Definitions.  Certain capitalized terms used in this Award Agreement have the meanings set forth below.  Other capitalized terms used but not defined in this Award Agreement have the same meaning as in the Plan.
 
(a)“Award” means this grant of Restricted Shares and/or Restricted Share Units. 
(b)“Award Notice” means the Award notification delivered or made available to the Participant (in either paper or electronic form).  
(c)“Cause” means (i) the Participant’s conviction of or plea of guilty or nolo contendere to a crime that constitutes a felony, or a lesser crime involving moral turpitude (which, for the avoidance of doubt, shall exclude any routine traffic violations); (ii) the Participant’s  commission of any act that would rise to the level of a felony or the commission of a lesser crime or offense that materially and adversely impacts the business or reputation of the Company or its Affiliates; (iii) the Participant’s commission of a dishonest or wrongful act involving fraud, embezzlement or misappropriation, whether or not related to the Participant’s employment with the Company; (iv) the Participant’s gross misconduct or commission of an act of moral turpitude that adversely and materially impacts the business or reputation of the Company or its Affiliates; (v) the Participant’s willful failure to comply with any reasonable, valid and lawful directive; or (vi) the Participant’s violation of a known and material policy of the Company.  The Participant’s employment shall not be deemed terminated for Cause for purposes of this Award unless the Company or one of its Affiliates has provided written notice to the Participant of the existence of the circumstances providing grounds for termination for Cause and the Participant has had at least ten (10) days from the date on which such notice is provided to cure such circumstances (to the extent such circumstances are capable of being cured). 
(d)“Inimical Conduct” means any act or omission that is inimical to the best interests of the Company or any Affiliate as determined by the Committee in its sole discretion, including but not limited to: (i) violation of any employment, non-competition, non-solicitation, confidentiality or other agreement in effect with the Company or any Affiliate, (ii) taking any steps or doing anything which would damage or negatively reflect on the reputation of the Company or an Affiliate, or (iii) failure to comply with applicable laws relating to trade secrets, confidential information or unfair competition. 
(e)“Plan” means the Johnson Controls International plc 2021 Equity and Incentive Plan as amended from time to time. 
(f)“Restriction Period” means the length of time indicated in the Award Notice during which the Award is subject to vesting.  During the Restriction Period, the Participant cannot sell, transfer, pledge, assign or otherwise encumber the Restricted Shares or Restricted Share Units (or a portion thereof) subject to this Award. 
(g)“Restricted Share” means a Share that is subject to a risk of forfeiture and the Restriction Period. 
(h)“Restricted Share Unit” means the right to receive one Share or a cash payment equal to the Fair Market Value of one Share, that is subject to a risk of forfeiture and the Restriction Period. 
(i)“Retirement” means Termination of Employment (for other than Cause) on or after attainment of age fifty-five (55) and completion of five (5) years of continuous service with the Company and its Affiliates (including, for Participants who are Legacy Johnson Controls Employees, service with Johnson Controls, Inc. and its affiliates prior to the Merger). 
(j) “Termination of Employment” means, subject to the terms of any Attachment hereto, the date of cessation of the Participant’s employment relationship with the Company and its Affiliates for any reason, with or without Cause, as determined by the Company.
Terms for Restricted Shares and Restricted Share Units – 2021 Plan

 
The parties agree as follows: 
 
1.Grant of Award.  Subject to the terms and conditions of the Plan, a copy of which has been delivered to the Participant and made a part of this Award, and to the terms and conditions of this Award Agreement, the Company grants to the Participant an award of Restricted Shares or Restricted Share Units, as specified in the Award Notice, on the date and with respect to the number of Shares specified in the Award Notice.  
 
2.Restricted Shares.  If the Award is in the form of Restricted Shares, the Shares are subject to the following terms: 
 
a.Restriction Period.  The Company will hold the Shares in escrow for the Restriction Period.  During this period, the Shares shall be subject to forfeiture as provided in Section 4. 
 
b.Removal of Restrictions.  Subject to any applicable deferral election under the Johnson Controls International plc Senior Executive Deferred Compensation Plan (or any successor or similar deferred compensation plan for which the Participant is eligible) and to Section 4 below, Shares that have not been forfeited shall become available to the Participant after the last day of the Restriction Period upon payment in full of all taxes due with respect to such Shares.  
 
c.Voting Rights.  During the Restriction Period, the Participant may exercise full voting rights with respect to the Shares. 
 
d.Dividends and Other Distributions.  Any cash dividends or other distributions paid or delivered with respect to Restricted Shares for which the record date occurs on or before the last day of the Restriction Period will be credited to a bookkeeping account for the benefit of the Participant.  For U.S. domestic Participants, the account will be converted into and settled in additional Shares issued under the Plan at the end of the applicable Restriction Period; for all other Participants, the account will be paid to the Participant in cash at the end of the applicable Restriction Period.  Prior to the end of the Restriction Period, such account will be subject to the same terms and conditions (including risk of forfeiture) as the Restricted Shares to which the dividends or other distributions relate.   
 
3.Restricted Share Units.  If the Award is in the form of Restricted Share Units, the Restricted Share Units are subject to the following terms: 
 
a.Restriction Period.  During the Restriction Period, the Restricted Share Units shall be subject to forfeiture as provided in Section 4. 
 
b.Settlement of Restricted Share Units.  Subject to any applicable deferral election under the Johnson Controls International plc Senior Executive Deferred Compensation Plan (or any successor or similar deferred compensation plan for which the Participant is eligible) and to Section 4 and Section 5 below, the Restricted Share Units shall be settled by, (a) for U.S. and United Kingdom domestic Participants, the Company’s issuance of a number of Shares to the Participant equal to the number of whole Units that have been earned; or (b) for all other Participants, payment of a cash sum to the Participant by the local entity equal to the Fair Market Value of one Share (determined as of the vesting date) multiplied by the number of whole Units that have been earned.  The Shares or the cash payment shall be issued or paid in each case within forty-five (45) days after the last day of the Restriction Period (subject to a six-month delay to the extent required to comply with Code Section 409A). 
 
c.Dividend Equivalent Units.  Any cash dividends or other distributions paid or delivered with respect to the Shares for which the record date occurs on or before the last day of the Restriction Period will result in a credit to a bookkeeping account for the benefit of the Participant.  The credit will be equal to the dividends or other distributions that would have been paid with respect to the Shares subject to the Restricted Share Units had such Shares been outstanding.  For U.S. and United Kingdom domestic Participants, the account will be converted into and settled in additional Shares issued under the Plan at the end of the applicable 
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Restriction Period; for all other Participants, the account will be paid to the Participant in cash or, at the discretion of the Company, converted into and settled in additional Shares issued under the Plan at the end of the applicable Restriction Period.  Prior to the end of the Restriction Period, such account will be subject to the same terms and conditions (including risk of forfeiture) as the Restricted Share Units to which the dividends or other distributions relate.   
 
4.Termination of Employment – Risk of Forfeiture. 
 
a.Retirement.  If the Participant terminates employment from the Company and its Affiliates due to Retirement at a time when the Participant’s employment could not have been terminated for Cause, then the Participant shall become vested in, and the Restriction Period shall lapse with respect to, a pro rata portion of the total number of Restricted Shares or Restricted Share Units subject to this Award.  Such pro rata portion that shall vest upon Retirement shall be calculated as follows: (i) the total number of Restricted Shares or Restricted Share Units granted under this Award multiplied by (ii) a fraction, the numerator of which equals the total number of full months that the Participant was employed during the Restriction Period as of the Participant’s Termination of Employment and the denominator of which equals the total number of months in the Restriction Period, less (iii) any Restricted Shares or Restricted Share Units that previously vested in the normal course as of the Participant’s Termination of Employment.  Any Restricted Shares or Restricted Share Units subject to this Award that do not become vested under this paragraph upon the Participant’s Retirement shall automatically be forfeited and returned to the Company as of the date of his Retirement. 
  
b.Involuntary Termination Without Cause.  If the Participant’s employment with the Company and its Affiliates is terminated by the Company without Cause, then the Participant shall become vested in, and the Restriction Period shall lapse with respect to a pro rata portion of the total number of Restricted Shares or Restricted Share Units subject to this Award. Such pro rata portion that shall vest upon the Participant’s Termination of Employment shall be calculated as follows: (i) the total number of Restricted Shares or Restricted Share Units granted under this Award multiplied by (ii) a fraction, the numerator of which equals the total number of full months that the Participant was employed during the Restriction Period as of the Participant’s Termination of Employment and the denominator of which equals the total number of months in the Restriction Period, less (iii) any Restricted Shares or Restricted Share Units that previously vested in the normal course as of the Participant’s Termination of Employment.  Any Restricted Shares or Restricted Share Units subject to this Award that do not become vested under this paragraph upon the Participant’s termination without Cause shall automatically be forfeited and returned to the Company as of the Participant’s Termination of Employment.

c.Death.  If the Participant’s employment with the Company and its Affiliates terminates because of death at a time when the Participant could not have been terminated for Cause, then, effective as of the date the Company determines the Participant’s employment terminated due to death (provided such determination is made no later than the end of the calendar year following the calendar year in which death occurs), the Participant shall become fully vested in all of the Restricted Shares or Restricted Share Units subject to this Award and any remaining Restriction Period shall automatically lapse.   
 
d.Disability.  If the Participant’s employment with the Company and its Affiliates terminates because of Disability at a time when the Participant could not have been terminated for Cause, then the Participant shall become fully vested in all of the Restricted Shares or Restricted Share Units subject to this Award and any remaining Restriction Period shall automatically lapse as of the date of such Termination of Employment. 
 
e.Divestiture or Outsourcing. If the Participant’s employment with the Company and its Affiliates terminates as a result of a Disposition of Assets, Disposition of a Subsidiary or Outsourcing Agreement (each as defined below), at a time when the Participant could not have been terminated for Cause, then the Participant shall become vested in a pro rata portion of the total number of Restricted Shares or Restricted Share Units subject to this Award.  Such pro rata portion shall be calculated as follows: (i) the total number of Restricted Shares or Restricted Share Units granted under this Award multiplied by (ii) a fraction, the numerator of which equals the total number of full months that the Participant was employed during the Restriction Period as of the Participant’s Termination of Employment and the denominator of which equals the total number of months in the Restriction Period, less (iii) any Restricted Shares or Restricted Share 
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Units that previously vested in the normal course as of the Participant’s Termination of Employment; provided that, if such Termination of Employment does not constitute a “separation from service” within the meaning of Code Section 409A, then any remaining Restriction Period shall continue with respect to the vested Shares or Restricted Share Units as if the Participant continued in active employment to the extent required for compliance with Code Section 409A.  Any Restricted Shares or Restricted Share Units subject to this Award that do not become vested under this paragraph as a result of such Disposition of Assets, Disposition of a Subsidiary or Outsourcing Agreement shall automatically be forfeited and returned to the Company as of the date of the Disposition of Assets, Disposition of a Subsidiary or Outsourcing Agreement, as applicable.  Notwithstanding the foregoing, the Participant shall not be eligible for such pro rata vesting if (A) the Participant’s Termination of Employment occurs on or prior to the closing date of such Disposition of Assets or Disposition of a Subsidiary, as applicable, or on such later date as is specifically provided in the applicable transaction agreement or related agreements, or on the effective date of such Outsourcing Agreement applicable to the Participant (the “Applicable Employment Date”), and (B) the Participant is offered Comparable Employment (as defined below) with the buyer, successor company or outsourcing agent, as applicable, but does not commence such employment on the Applicable Employment Date.  
 
For purposes of this Section 4(d), “Comparable Employment” shall mean employment (x) with base compensation and benefits (not including perquisites, allowances or long term incentive compensation) that, taken as whole, is not materially reduced from that which is in effect immediately prior to the Participant’s Termination of Employment and (y) that is at a geographic location no more than 50 miles from the Participant’s principal place of employment in effect immediately prior to the Participant’s Termination of Employment; “Disposition of Assets” shall mean the disposition by the Company or an Affiliate by which the Participant is employed of all or a portion of the assets used by the Company or Affiliate in a trade or business to an unrelated corporation or entity; “Disposition of a Subsidiary” shall mean the disposition by the Company or an Affiliate of its interest in a subsidiary or controlled entity to an unrelated individual or entity (which, for the avoidance of doubt, excludes a spin-off or split-off or similar transaction), provided that such subsidiary or entity ceases to be controlled by the Company as a result of such disposition; and “Outsourcing Agreement” shall mean a written agreement between the Company or an Affiliate and an unrelated third party (“Outsourcing Agent”) pursuant to which (i) the Company transfers the performance of services previously performed by employees of the Company or Affiliate to the Outsourcing Agent, and (ii) the Outsourcing Agent is obligated to offer employment to any employee whose employment is being terminated as a result of or in connection with said Outsourcing Agreement. 
 
f.Other Termination.  If the Participant’s employment terminates for any reason not described above (including for Cause), then any Restricted Shares or any Restricted Share Units (and all deferred dividends paid or credited thereon) still subject to the Restriction Period as of Participant’s Termination of Employment shall automatically be forfeited and returned to the Company. The Company may suspend payment or delivery of Shares (without liability for interest thereon) pending the Committee’s determination of whether the Participant was or should have been terminated for Cause. 

5.Inimical Conduct.  Notwithstanding anything herein to the contrary, if the Committee determines at any time that a Participant has engaged in Inimical Conduct, whether before or after Termination of Employment, the Award shall be cancelled, regardless of vesting. In addition, the Committee or the Company may suspend any vesting, payment of cash or issuance of Shares hereunder pending the determination of whether the Participant has engaged in Inimical Conduct.

6.Change of Control. This Award will be treated in accordance with Section 19 of the Plan in connection with a Change of Control.

7.Withholding.  The Participant agrees to remit to the Company any foreign, Federal, state and/or local taxes (including the Participant’s FICA tax obligation) required by law to be withheld with respect to the issuance of Shares under this Award, the vesting of this Award or the payment of cash under this Award.  Notwithstanding anything to the contrary in this Award, if the Company or any Affiliate of the Company is required to withhold any Federal, state or local taxes or other amounts in connection with the Award, then the Company may require the Participant to pay to the Company, in cash, promptly on demand, amounts sufficient to satisfy such tax obligations or make other arrangements satisfactory to the Company regarding the payment to the Company of the aggregate amount of any such taxes and other amounts.  Alternatively, the Company can withhold Shares no longer restricted, or can withhold from cash or property, including cash or Shares under 
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this Award, payable or issuable to the Participant, in the amount needed to satisfy any withholding obligations; provided that, to the extent Shares are withheld to satisfy taxes, the amount to be withheld may not exceed the total maximum statutory tax withholding obligations associated with the transaction. Notwithstanding the foregoing, with respect to a Participant who is a Section 16 Participant, if payment hereunder is to be made in the form of Shares, then any withholding obligations shall be satisfied by the Company withholding Shares otherwise issuable under this Award unless the Committee approves an alternative method by which the Participant shall pay such withholding taxes. 
 
8.No Claim for Forfeiture.  Neither the Award nor any benefit accruing to the Participant from the Award will be considered to be part of the Participant’s normal or expected compensation or salary for any purposes, including, but not limited to, calculating any severance, resignation, termination, redundancy, dismissal, end-of-service payments, bonuses, long-service awards, pension or retirement or welfare benefits or similar payments.  Notwithstanding anything to the contrary in this Award, in no event may the Award or any benefit accruing to the Participant from the Award be considered as compensation for, or relating in any way to, past services for the Company or any Affiliate.  In consideration of the Award, no claim or entitlement to compensation or damages shall arise from forfeiture of the Award resulting from termination of the Participant’s employment by the Company or any Affiliate (for any reason whatsoever and whether or not in breach of local labor laws) and the Participant irrevocably releases the Company and its Affiliates from any such claim that may arise.  If, notwithstanding the foregoing, any such claim is found by a court of competent jurisdiction to have arisen, then, by acknowledging the grant, the Participant shall have been deemed irrevocably to have waived any entitlement to pursue such claim.   
 
9.Electronic Delivery.  The Company or its Affiliates may, in its or their sole discretion, decide to deliver any documents related to current or future participation in the Plan or related to this Award by electronic means.  The Participant hereby consents to receive such documents by electronic delivery and agrees to participate in the Plan through an on-line or electronic system established and maintained by the Company or a third party designated by the Company. The Participant hereby agrees that all on-line acknowledgements shall have the same force and effect as a written signature. 
 
10.Securities Compliance.  The Company may place a legend or legends upon the certificates for Shares issued under the Plan and may issue “stop transfer” instructions to its transfer agent in respect of such Shares as it determines to be necessary or appropriate to (a) prevent a violation of, or to obtain an exemption from, the registration requirements of the Securities Act of 1933, as amended, applicable state or other country securities laws or other legal requirements, or (b) implement the provisions of the Plan, this Award or any other agreement between the Company and the Participant with respect to such Shares. 
 
11.Successors.  All obligations of the Company under this Award shall be binding on any successor to the Company.  The terms of this Award and the Plan shall be binding upon and inure to the benefit of the Participant, and his or her heirs, executors, administrators or legal representatives. 
                                                                                        
12.Legal Compliance.  The granting of this Award and the issuance of Shares under this Award shall be subject to all applicable laws, rules, and regulations and to such approvals by any governmental agencies or national securities exchanges as may be required. 
 
13.Governing Law; Arbitration.  This Award, and the interpretation of this Award Agreement, shall be governed by (a) the internal laws of Ireland (without reference to conflict of law principles thereof that would direct the application of the laws of another jurisdiction) with respect to the validity and authorization of any Shares issued under this Award, and (b) the internal laws of the State of Wisconsin (without reference to conflict of law principles thereof that would direct the application of the laws of another jurisdiction) with respect to all other matters.  Any disputes regarding this Award or any other matter relating to the Participant’s employment will be subject to the Company’s arbitration policy, as described in Section 20(i) of the Plan.
 
14.Data Privacy and Sharing.  As a requirement of the Award, it is necessary for some of the Participant’s personal identifiable information to be provided to certain employees of the Company, the third party data processor that administers the Plan and the Company’s designated third party broker in the United States.  These transfers will be made pursuant to a contract that requires the processor to provide adequate levels of protection for data privacy and security interests and in accordance with the “legitimate interest” provisions of the EU General Data Protection Regulation (GDPR) (Regulation (EU) 2016/679 and the implementing 
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legislation of the Participant’s home country (or any successor or superseding regulation).  By acknowledging the Award, the Participant acknowledges having been informed of the processing of the Participant’s personal identifiable information described in the preceding paragraph and consents to the Company collecting and transferring to the Company's Shareholder Services Department, and its independent benefit plan administrator and third party broker, the Participant’s personal data that are necessary to administer the Award and the Plan.  The Participant understands that his or her personal information may be transferred, processed and stored outside of the Participant’s home country in a country that may not have the same data protection laws as his or her home country, for the purposes mentioned in this Award. 
 
In compliance with the GDPR the Participant will be provided with:  
•the identity and the contact details of the controller (usually the administrator and/or the Company) and, where applicable, of the controller's representative; 
•the contact details of the data protection officer, where applicable; 
•that the purposes of the processing of personal data is for the grant, administration and vesting of the Award and the legal basis for the processing is that this is required for the performance of this Award Agreement and for compliance with its terms and the Award or to cover the legitimate interests of the data controller and the data processor; 
•the recipients or categories of recipients of the personal data, if any; 
•the controller intends to transfer personal data to a third country or international organization subject to the existence of an adequacy decision by the Commission, or reference to the appropriate or suitable safeguards (reliance on the US/EU Privacy Shield or adoption of the EU Model Clauses) and you may obtain a copy of these or details of where they are made available on the administrator’s portal; 
•the period for which the personal data will be stored, or if that is not possible, the criteria used to determine that period; 
•the right to request from the controller access to and rectification or erasure, in certain circumstances but this could impact the Award, of personal data or restriction of processing concerning the data subject or to object to processing as well as the right to data portability; 
•the right to lodge a complaint with a supervisory authority; 
•the provision of personal data is a requirement for the performance of this Award Agreement and the terms of the Award.
 
15.Restrictive Covenants.  In consideration for the Participant’s opportunity to earn the benefits provided in this Award Agreement, Participant agrees to be bound by the restrictive covenants in Attachment A.  For the sake of clarity, by accepting this Award, Participant agrees to be bound by such restrictive covenants even if Participant ultimately forfeits this Award or otherwise fails to receive any benefits under this Award Agreement.  

16.Recoupment.  This Award, and any Shares issued or cash paid pursuant to this Award, shall be subject to the Company’s Executive Compensation Incentive Recoupment Policy.

17.No Restrictions on Certain Actions. The existence of the Award shall not affect in any way the right or power of the Company or its shareholders to make or authorize any or all adjustments, recapitalizations, reorganizations, or other changes in the Company's capital structure or its business, or any merger or consolidation of the Company, or any issuance of bonds, debentures, preferred, or prior preference shares ahead of or affecting the Shares or the rights thereof, or dissolution or liquidation of the Company, or any sale or transfer of all or any part of its assets or business, or any other corporate act or proceeding, whether of a similar character or otherwise. 
 

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This Award Agreement, the Award Notice and any other documents expressly referenced in this Award Agreement contain all of the provisions applicable to the Award and no other statements, documents or practices may modify, waive or alter such provisions unless expressly set forth in writing, signed by an authorized officer of the Company and delivered to the Participant. 
 
Failure of the Participant to affirmatively ACKNOWLEDGE or reject this Award within the sixty (60) day period following the date of grant will result in the Participant’s IMMEDIATE AND AUTOMATIC acceptance of this Award and the terms and conditions of the Plan and this Award Agreement, including the non-competition and non-solicitation provisions contained herein.  
 
The Company has caused this Award to be executed by one of its authorized officers as of the date of grant. 
  
JOHNSON CONTROLS INTERNATIONAL PLC 

 /s/ John Donofrio
John Donofrio 
Executive Vice President and General Counsel 
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Attachment A 
Johnson Controls International plc 
Restrictive Covenants for Award Agreements 
 
 
In consideration for the Participant’s opportunity to earn the benefits provided in this Award Agreement (regardless of whether benefits under this Award Agreement are actually realized by the Participant), and except as prohibited by law, the Participant agrees as follows: 

1.    Non-Competition.    Participant agrees that during his or her employment with the Company or its Subsidiaries, and for the period of one (1) year following the Participant’s Termination of Employment for any reason, or such longer period of non-competition as is included in any offer letter or any other agreement between Participant and the Company or its Subsidiaries or Affiliates, the Participant will not directly or indirectly, own, manage, operate, control (including indirectly through a debt, equity investment, or otherwise), provide services to, or be employed by, any person or entity engaged in any business that (i) conducts or is planning to conduct a business in competition with any business conducted or planned by the Company or any of its Subsidiaries (1) that is located in a region in which Participant had substantial responsibilities during the twenty-four (24) month period preceding Participant’s Termination of Employment, and (2) for which Participant (A) was materially involved in during the twenty-four (24) month period preceding Participant’s Termination of Employment, or (B) had knowledge of operations or substantial exposure to during the twenty-four (24) month period preceding Participant’s Termination of Employment; or (ii) designs, develops, produces, offers for sale or sells a product or service that can be used as a substitute for, or is generally intended to satisfy the same customer needs for, any one or more products or services designed, developed, manufactured, produced or offered for sale or sold by any of the Company’s business (1) that is located in a region in which Participant had substantial responsibilities during the twenty-four (24) month period preceding Participant’s Termination of Employment, and (2) for which Participant (A) was materially involved in during the twenty-four (24) month period preceding Participant’s Termination of Employment, or (B) had knowledge of operations or substantial exposure to during the twenty-four (24) month period preceding Participant’s Termination of Employment.

2.    Non-Solicitation of Customers.    Participant agrees that during his or her employment with the Company or its Subsidiaries, and for the period of two (2) years following the Participant’s Termination of Employment for any reason, or such longer period of non-solicitation as is included in any offer letter or any other agreement between Participant and the Company or its Subsidiaries or Affiliates, the Participant will not, directly or indirectly, on his or her own behalf or on behalf of another (i) solicit, aid or induce any customer of the Company or any of its Subsidiaries that Participant was responsible for, including supervised, managed or directed by Participant, to purchase goods or services then sold by the Company or its Subsidiaries from another person or entity, or assist or aid any other person or entity in identifying or soliciting any such customer, or (ii) solicit, aid or induce any customer that was pursued by the Company and with which Participant had contact, participated in the contact, or about which Participant had knowledge of Confidential Information by reason of Participant’s relationship with the Company within the twenty-four (24) month period preceding Participant’s Termination of Employment if that sale or service would be located in a region with respect to which the Participant had substantial responsibilities while employed by the Company or its Subsidiaries.

3.    Non-Solicitation of Employees.    Participant agrees that during his or her employment with the Company or its Subsidiaries, and for the period of two (2) years following the Participant’s Termination of Employment for any reason, or such longer period of non-solicitation as is included in any offer letter or any other agreement between Participant and the Company or its Subsidiaries or Affiliates, the Participant will not, directly or indirectly, on his or her own behalf or on behalf of another solicit, recruit, aid or induce employees of the Company or any of its Subsidiaries (a) with whom Participant has had material contact with during the twelve (12) months period preceding Participant’s Termination of Employment and who had access to Confidential Information, trade secrets or customer relationships; or (b) who were directly managed by or reported to Participant as of the date of Participant’s Termination of Employment to leave their employment with the Company or its Subsidiaries in order to accept employment with or render services to another person or entity unaffiliated with the Company or its Subsidiaries, or hire or knowingly take any action to assist or aid any other person or entity in identifying or hiring any such employee.
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4.    Confidentiality.    In consideration for the Participant’s opportunity to earn the benefits provided in this Award Agreement (regardless of whether benefits under this Award Agreement are actually realized by the Participant) and for the Company’s and its Subsidiaries’ promise to provide Participant with confidential and competitively sensitive information from time to time concerning, among other things, the Company and its Subsidiaries strategies, objectives, performance and business prospects, the Participant agrees that during his or her employment with the Company or its Subsidiaries, and until such time thereafter as the Confidential Information is no longer confidential through no fault of the Participant, the Participant shall not use or disclose any Confidential Information except for the benefit of the Company or its Subsidiaries in the course of the Participant’s employment, and shall not use or disclose any Confidential Information in competition with or to the detriment of the Company or its Subsidiaries, or for the benefit of the Participant or anyone else other than the Company or its Subsidiaries.  Notwithstanding the foregoing, nothing herein shall prohibit the Participant from reporting or otherwise disclosing possible violations of state, local or federal law or regulation to any governmental agency or entity, or making other disclosures that, in each case, are protected under whistleblower provisions of local, state or federal law or regulation. Nothing in this Agreement is intended to discourage or restrict Employee from reporting any theft of trade secrets pursuant to the Defend Trade Secrets Act of 2016 (“DTSA”) or other applicable state or federal law.  The DTSA provides: An individual shall not be held criminally or civilly liable under any federal or state trade secret law for the disclosure of a trade secret that: (a) is made (i) in confidence to a federal, state or local government official, either directly or indirectly, or to any attorney; and (ii) solely for the purpose of reporting or investigating a suspected violation or law; or (b) is made in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal.  An individual who files a lawsuit for retaliation by an employer for reporting a suspected violation of law may disclose the trade secret to an attorney for the individual and use the trade secret information in the court proceeding, if the individual (a) files any document containing the trade secret under seal; and (b) does not disclose the trade secret, except pursuant to court order.

“Confidential Information” means any information that is not generally known outside the Company and its Subsidiaries, relating to any phase of business of the Company or any Affiliate, whether existing or foreseeable, including information conceived, discovered or developed by the Participant. Confidential Information includes, but is not limited to: project files, product designs, drawings, sketches and processes; production characteristics; testing procedures and results thereof; manufacturing methods, processes, techniques and test results; plant layouts, tooling, engineering evaluations and reports; business plans, financial statements and projections; operating forms (including contracts) and procedures; payroll and personnel records; non-public marketing materials, plans and proposals; customer lists and information, and target lists for new clients and information relating to potential clients; software codes and computer programs; training manuals; policy and procedure manuals; raw materials sources, price and cost information; administrative techniques and documents; and any information received by the Company under an obligation of confidentiality to a third party.
  
5.    Non-Disparagement.    Each of the Participant and the Company and its Affiliates (for purposes hereof, the Company and its Subsidiaries shall mean only the officers and directors thereof and not any other employees) agrees not to make any statements that disparage the other party, or in the case of the Company or its Subsidiaries, their respective Subsidiaries, employees, officers, directors, products or services.  Notwithstanding the foregoing, statements made in the course of sworn testimony in administrative, judicial or arbitral proceedings (including, without limitation, depositions in connection with such proceedings) shall not be subject to the limitations in this paragraph.   

6.    Remedies.    Irreparable injury will result to the Company, and to its business, in the event of a breach by the Participant of any of the Participant’s covenants and commitments under this Award, including the covenants of non-competition and non-solicitation. Therefore, in the event of a breach of such covenants and commitments, in the sole discretion of the Company, any of the Participant’s unvested Restricted Shares or Restricted Share Units shall be immediately rescinded and the Participant will forfeit any rights he or she has with respect thereto. Furthermore, by acknowledging this Award, and not declining the Award, in the event of such a breach, upon demand by the Company, the Participant hereby agrees and promises immediately to deliver to the Company the number of Shares (or, in the discretion of the Company, the cash value of said Shares) the Participant received for Restricted Share Units that vested or were delivered at any time from and after the earlier of (i) the date of 
Terms for Restricted Shares and Restricted Share Units – 2021 Plan
Page 9 of 10

the breach or (ii) six months prior to the Participant’s Termination of Employment.  In the event the Shares subject to repayment are, at the time of the Company’s demand, allocated to a deferred compensation plan, the Company may forfeit such Shares and the Participant will forfeit any rights he or she has with respect thereto.  In addition, the Company reserves all rights to seek any and all remedies and damages permitted under law, including, but not limited to, injunctive relief, equitable relief and compensatory damages. The Participant further acknowledges and confirms that the terms of this Attachment, including but not limited to the time and geographic restrictions, are reasonable, fair, just and enforceable by a court. 

 

Terms for Restricted Shares and Restricted Share Units – 2021 Plan
Page 10 of 10Exhibit 10.1

  

   

  

  
    SEPARATION AGREEMENT AND

    GENERAL RELEASE OF CLAIMS

     

    This SEPARATION AGREEMENT AND GENERAL RELEASE OF CLAIMS (“Agreement”) dated November 14, 2022 is entered into by and between Charah, LLC, a Kentucky limited liability company (the “Company”), and Scott Sewell (“Employee”).
      Charah Solutions, Inc., a Delaware corporation (“Charah Solutions”), enters into this Agreement for the purpose of acknowledging and agreeing
      to those portions of Sections 2, 5 and 13 applicable to it below.  The Company and Employee are referred to individually as a “Party” and
      collectively as the “Parties.”

     

    WHEREAS, the Parties are party to that certain Amended and
      Restated Employment Agreement effective as of June 27, 2022 (the “Employment Agreement”);

     

    WHEREAS, on November 14, 2022, pursuant to Section 7(e) of
      the Employment Agreement, Employee provided the Company notice of his voluntary resignation from employment;

     

    WHEREAS, Employee’s employment with the Company ended due to
      his resignation, effective upon the filing of third quarter 2022 Form 10-Q (the “Separation Date”);

     

    WHEREAS, if Employee enters into this Agreement and satisfies
      the terms herein, then the Company will provide Employee with the separation benefits as set forth herein; and

     

    WHEREAS, the Parties desire to enter into this Agreement to
      resolve any and all claims that Employee has or may have against the Company or any of the other Company Parties (as defined below), including any claims that Employee may have arising out of Employee’s employment or the end of such employment.

     

    NOW, THEREFORE, in consideration of the promises set forth
      herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged by Employee and the Company, the Parties hereby acknowledge and agree as follows:

     

    1.           Employment Separation.

     

    (a)       Employee
        acknowledges and agrees that (i) Employee provided the Company written notice, on November 14, 2022, of his voluntary resignation from employment; (ii) Employee’s employment with the Company terminated effective as of the Separation Date; and (iii)
        Employee’s separation from employment was due to his termination for convenience, pursuant to Section 7(e) of the Employment Agreement.

     

    (b)         As of the
        Separation Date, Employee has no further employment relationship with the Company or any other Company Party.  Employee acknowledges and agrees that, in accordance with Section 22 of the Employment Agreement, as of the Separation Date, Employee is
        automatically deemed to have resigned from all positions held with the Company and each other Company Party, including, without limitation, (a) as an officer of the Company and each member of the Company Group, as defined in the Employment
        Agreement; (b) from the Board, as defined in the Employment Agreement; and (c) from the board of directors or board of managers (or similar governing body) of any member of the Company Group, as defined in the Employment Agreement, and from the
        board of directors or board of managers (or similar governing body) of any corporation, limited liability entity, unlimited liability entity or other entity in which any member of the Company Group, as defined in the Employment Agreement, holds an
        equity interest and with respect to which board of directors or board of managers (or similar governing body) Employee served as such Company Group member’s designee or other representative.

     

    
      1

      
        

    

    2.           Severance Payments; COBRA Reimbursement; Accelerated Vesting. Provided
        that (i) Employee executes this Agreement on or after the Separation Date and returns a copy of this Agreement signed by Employee to the Company, care of Steve Brehm, Vice President of Legal Affairs, 12601 Plantside Drive, Louisville, Kentucky
        40299 or via e-mail to sbrehm@charah.com so that it is received by Mr. Brehm no later than 11:59 p.m. Eastern Time on December 5, 2022; (ii) Employee abides by each of
        his commitments set forth herein; and (iii) Employee does not exercise his revocation right as set forth in Section 11(b) below, then:

     

    (a)       The Company shall provide Employee: (x) a total severance payment equal to One Million One Hundred and Twenty Thousand and No/100 Dollars ($1,120,000.00), which represents twenty-four (24)
        months’ worth of Employee’s base salary in effect as of the Separation Date (the “Severance Payment”); and (y) an additional payment equal to Five Hundred Sixty Thousand and No/100 Dollars
          (“$560,000”) (the “Additional Severance Payment”).  The Severance Payment shall be paid in substantially equal installments in accordance with the Company’s regular payroll practices over a twenty-four (24)-month period following the Separation Date; provided, that, no installment shall be paid on or prior
          to the last day of the Revocation Period, as defined below, and the first installment payable after the expiration of the Revocation Period, as defined below, shall include (without interest) any missed payments.  The Additional Severance Payment
          shall be paid in a lump sum payment on the Company’s first payroll date for executive employees that occurs on or after the second (2nd) anniversary of the Separation Date;

     

    (b)        Subject to
        the eligibility restrictions set forth below, for the portion, if any, of the eighteen (18)-month period following the Separation Date (the “Reimbursement
          Period”) that Employee elects to continue coverage for Employee and Employee’s spouse and eligible dependents, if any, under the Company’s group health plans pursuant to Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”), subject to the Employee’s timely submission of applicable documentation as described herein, the Company shall promptly reimburse
        Employee on a monthly basis for a premium amount equal to the employee contribution amount that similarly situated active employees of the Company pay for the same or similar coverage under such group health plans (the “COBRA Benefit”).  After the expiration of the Revocation Period, each
        payment of the COBRA Benefit shall be paid to Employee on the Company’s first regularly scheduled pay date in the calendar month immediately following the calendar month in which Employee submits to the Company documentation of the applicable
        premium payment having been paid by Employee, which documentation shall be submitted by Employee to the Company within thirty (30) days following the date on which the applicable premium payment is paid. Employee shall be eligible to receive such
        reimbursement payments until the earliest of: (i) the last day of the Reimbursement Period; (ii) the date Employee is no longer eligible to receive COBRA continuation coverage; and (iii) the date on which Employee becomes eligible to receive
        coverage under a group health plan sponsored by another employer (and any such eligibility shall be promptly reported to the Company by Employee); provided,
        however, that the election of COBRA continuation coverage and the payment of any premiums due with respect to such COBRA continuation coverage shall remain
        Employee’s sole responsibility, and the Company shall not assume any obligation for payment of any such premiums relating to such COBRA continuation coverage. The Company may cease making such payments to the extent required to avoid any adverse
        consequences to Employee or the Company under either Section 105(h) of the Code or the Patient Protection and Affordable Care Act of 2010, and, to the extent such payments would not cause any such adverse consequences, the Company shall in lieu
        thereof provide to Employee (or Employee’s designated beneficiary or legal representative, if applicable) a taxable monthly payment in an amount equal to the monthly COBRA premium that the Company would otherwise be required to pay under this
        section for Employee’s COBRA coverage, which payment will continue until the end of the subsidized COBRA continuation period otherwise prescribed in this section. The existence and duration of Employee’s rights and/or the COBRA rights of any of
        Employee’s eligible dependents will be determined in accordance with Section 4980B of the Code (as defined below); and

     

    
      2

      
        

    

    (c)           Charah
        Solutions shall cause the accelerated vesting referenced in Section 5 below to occur, as set forth in Section 5.

     

    3.         Satisfaction of Severance Obligations; Receipt of Leaves, Bonuses, and Other Compensation. Employee expressly acknowledges and agrees that he would not be entitled to the consideration in Section 2 (or any portion thereof) but for his entry into, and non-revocation of, this Agreement and
        compliance with the terms herein. Employee further represents, acknowledges and agrees that, with the exception of any unpaid base salary earned by him in the pay period in which the Separation Date occurred, Employee has been paid in full all
        bonuses, been provided all benefits, and otherwise received all wages, compensation, and other sums that he has been owed or ever could be owed by the Company and the other Company Parties, with the exception of any sums to which Employee may be
        entitled pursuant to this Agreement.  Employee further represents, acknowledges and agrees that he has received all leaves (paid and unpaid) that he has been entitled to receive from the Company and the other Company Parties. Employee further
        acknowledges and agrees that he has no further rights to severance pay or benefits from any Company Party other than as set forth in Section 2.

     

    
      3

      
        

    

    4.            Complete Release of Claims.

     

    (a)        For good and
        valuable consideration, including the consideration set forth in Section 2 herein (and any portion thereof), Employee forever releases and discharges the Company, Charah Solutions, each of their respective affiliates, and each of the foregoing
        entities’ respective past, present, and future parents, subsidiaries, predecessors, successors, affiliates, assigns, owners, shareholders, partners, officers, directors, members, managers, employees, trustees, representatives, agents, attorneys,
        successors, administrators, fiduciaries, insurers, and benefit plans and the trustees and fiduciaries of such plans (each a “Company Party”
        and, collectively, the “Company Parties”), in their personal and representative capacities from, and Employee waives, any and all claims,
        demands, liabilities, and causes of action, whether statutory or at common law, including any claim for salary, benefits, payments, expenses, costs, damages, penalties, compensation, remuneration, contractual entitlements, and all claims or causes
        of action relating to any matter that actually or allegedly occurred, whether known or unknown, on or prior to the Signing Date, including, (i) any alleged violation of: (A) the Family and Medical Leave Act of 1993, as amended; (B) Title VII of the
        Civil Rights Act of 1964, as amended; (C) the Civil Rights Act of 1991; (D) Sections 1981 through 1988 of Title 42 of the United States Code, as amended; (E) the Employee Retirement Income Security Act of 1974, as amended (“ERISA”); (F) the Immigration Reform Control Act, as amended; (G) the Americans with Disabilities Act of 1990, as amended; (H) the Occupational
        Safety and Health Act, as amended; (I) the Genetic Information Nondiscrimination Act of 2008; (J) the Fair Labor Standards Act of 1938, as amended; (K) the Age Discrimination in Employment Act of 1967, as amended (including as amended by the Older
        Workers Benefits Protection Act); (L) the Sarbanes-Oxley Act of 2002 and the Dodd-Frank Wall Street Reform and Consumer Protection Act; (M) any local, state, or federal anti-discrimination or anti-retaliation law; (N) any other local, state, or
        federal law, regulation, or ordinance including the laws of the Commonwealth of Kentucky (including the Kentucky Civil Rights Act, the Kentucky Equal Pay Act, the Kentucky Equal Opportunities Act, the Kentucky Wages and Hours Act, the
        anti-retaliation provisions under the Kentucky Workers’ Compensation Law, the Kentucky Occupational Safety and Health Act); and (O) any other local or state law, regulation, or ordinance in a state or jurisdiction where Employee worked on behalf of
        the Company or any of the other Company Parties; (ii) any claim for any alleged violation of any public policy, contract, tort, or common law, including any claim for defamation, slander, libel, negligence, emotional distress, fraud or
        misrepresentation of any kind, promissory estoppel, breach of the covenant or implied duty of good faith and fair dealing, breach of implied or express contract, interference with contractual relations or prospective business advantage, invasion of
        privacy, breach of fiduciary duty or wrongful discharge; (iii) any allegation for costs, fees, or other expenses, including attorneys’ fees, related to any Released Claim; (iv) any and all claims Employee may have arising under or as the result of
        any alleged breach of any contract (including the Employment Agreement and any other offer letter, employment contract, or incentive or equity-based compensation plan or agreement) with the Company or any other Company Party; (v) any claim for
        compensation or benefits of any kind not expressly set forth in this Agreement; and (vi) any and all claims arising from, or relating to, the Charah Solutions, Inc. 2018 Omnibus Incentive Plan (the “Plan”) or any Equity Award (as defined below) or any grants or awards made under the Plan, or arising from or relating to Employee’s status as a holder of equity awards, or otherwise
        arising (whether directly or derivatively) as the result of Employee being a holder of any shares, units, equity or interest in any Company Party (collectively, the “Released Claims”). This Agreement is not intended to indicate that any such claims exist or that, if they do exist, they are meritorious. Rather, Employee is simply agreeing that, in exchange for any consideration
        received by Employee pursuant to Section 2 (and any portion thereof), any and all potential claims of this nature that Employee may have against the Company or the other Company Parties, regardless of whether they actually exist, are expressly
        settled, compromised, and waived. THIS RELEASE INCLUDES MATTERS KNOWN OR UNKNOWN AND ATTRIBUTABLE TO THE SOLE OR PARTIAL NEGLIGENCE (WHETHER GROSS OR SIMPLE) OR
          OTHER FAULT, INCLUDING STRICT LIABILITY, OF THE COMPANY OR COMPANY PARTIES.

     

    (b)          Notwithstanding
        this release of liability, nothing in this Agreement prevents Employee from filing any non-legally waivable claim, including a challenge to the validity of this Agreement, with the Equal Employment Opportunity Commission (“EEOC”), Securities and Exchange Commission (“SEC”), or
        other governmental agency or governmental authority (collectively, “Governmental Authorities”), or participating in (or cooperating with)
        any investigation or proceeding conducted by the EEOC, SEC, or other Governmental Authority; however, Employee understands and agrees that Employee is waiving any and all rights to recover any monetary or personal relief or recovery from any
        Company Party as a result of such EEOC, Securities and Exchange Commission, or other Governmental Authority proceeding or subsequent legal actions. Further, in no event shall the Released Claims include (i) any claim that first arises after the
        Signing Date, including any claim to enforce Employee’s rights under this Agreement; (ii) any claim to any vested benefits under ERISA that cannot be released pursuant to ERISA; (iii) any rights to severance pay or benefits pursuant to the terms of
        this Agreement; or (iv) any right to receive an award for information provided to any Governmental Authorities.  In addition, nothing herein prevents Employee from seeking workers’ compensation or unemployment insurance benefits.

     

    
      4

      
        

    

    5.           Awards.  Employee has been granted equity awards subject to the terms of the Plan and applicable award agreements (collectively, the “Equity Awards”). The Parties agree to the accelerated vesting of the Equity Awards based on the following:

     

    
      	 	
              Grant Type

            	 	
              Grant Date

            	 	
              Shares to Vest

            	 	
              Outstanding

            
	 	
              RSU

            	 	
              09-Jun-2020

            	 	
              29,327

            	 	
              43,991

            
	 	
              RSU

            	 	
              01-Apr-2021

            	 	
              29,525

            	 	
              88,574

            
	 	
              RSU

            	 	
              04-Apr-2022

            	 	
              29,770

            	 	
              133,965

            
	 	
              Subtotal

            	 	 	 	
              77,544

            	 	
              266,530

            
	 	
              PSU

            	 	
              09-Jun-2020

            	 	
              TBD (*)

            	 	
              86,598

            
	 	
              PSU

            	 	
              01-Apr-2021

            	 	
              TBD (**)

            	 	
              100,232

            
	 	
              PSU

            	 	
              04-Apr-2022

            	 	
              TBD(***)

            	 	
              106,666

            

    

     

    

    (*) Performance period through December 31, 2022 adjusted for duration vested

    (**) Performance period through December 31, 2023 adjusted for duration vested

    (***) Performance period through December 31, 2024 adjusted for duration vested

     

    PSU Agreement: upon a termination of the Participant’s employment with the Company or an Affiliate (i) by the Company or an Affiliate without Cause

     

    77,544 of the 266,530 restricted stock units (“RSUs”) and the performance share units (“PSUs”) granted to you on the dates and in the amounts
      indicated in the table above are not otherwise vested, shall vest on the date on which your right to revoke this Agreement expires (the “Vest Date”).

     

    For avoidance of doubt, any other Equity Awards that are not vested on the Vest Date, including any PSUs with respect to which the performance
      period has not expired on the Separation Date, shall be forfeited, anything in the Plan, or the individual award agreements, to the contrary notwithstanding. For the avoidance of doubt, Employee waives any right to assert that Employee’s termination
      constitutes a termination without cause or otherwise results in accelerated vesting of any such awards.

     

    
      5

      
        

    

    6.          Acknowledgment of Restrictive Covenants.  Employee
        acknowledges and agrees that, in connection with Employee’s employment with the Company, Employee has obtained Confidential Information, as defined in the Employment Agreement, and that he has continuing obligations to the Company and the other
        Company Parties pursuant to Sections 9, 10 and 11 of the Employment Agreement (the “Restrictive Covenants”).  In entering into this
        Agreement, Employee acknowledges the enforceability and continued effectiveness of the Restrictive Covenants and reaffirms his commitment to abide by their terms. In the event Company, in breach of this Agreement, fails to pay any future
        installments of the Severance Payment, the Additional Severance Payment and/or the COBRA Benefit, and fails to cure such breach within thirty (30) following the receipt of written notice from Employee of such breach, then the obligations of
        Employee under Sections 9, 10 and 11 of the Employment Agreement shall automatically terminate.

     

    7.            Mutual Non-Disparagement.

     

    (a)           Company
        and Employee agrees that it and he will engage in no act (including a verbal or written statement) that is intended, or reasonably may be expected, to defame, disparage, or harm the reputation, business, prospects, or operations of the Employee,
        the Company or any other Company Party.  Nothing in this Section 7(a) will prevent Company or Employee from communicating with any Governmental Authority.

     

    (b)         Employee
        agrees to direct any requests for professional references from third parties to the Company’s Senior Vice President of Human Resources (or such other individual as the Company may direct) and, in response to such requests, the Company shall only
        verify the dates of Employee’s employment by the Company and the positions he held during such employment.  Further, the Company will provide the following instruction to its directors and officers: “As you know, Scott Sewell is no longer employed
        by Charah. You are instructed not to engage in any act which is intended, or reasonably may be expected, to defame, disparage, or harm the reputation or business prospects of Mr. Sewell. Thank you in advance for your cooperation with this important
        instruction. Please direct any third-party inquiries regarding Mr. Sewell to the Senior Vice of Human Resources.”

     

    8.           Continued Cooperation. Following the Separation Date, Employee will provide the Company and, as applicable, the other Company Parties, with such
        assistance as the Company may request from time to time, including assistance with respect to transitioning matters within his prior areas of responsibility for the Company and its affiliates, and providing information relating to the duties he
        performed for the Company and its affiliates and facts that he knows about the Company and its business and operations, and assistance as set forth in Section 13 of the Employment Agreement.  Such information and assistance shall include providing
        truthful information and assistance with respect to any investigation, litigation, or other proceeding that may relate to any Company Party practices, acts, omissions, or any other occurrence occurring during the period that Employee was employed
        by the Company.

     

    
      6

      
        

    

    9.           Severance Clawback. Notwithstanding any provision of this Agreement to the contrary, in the event that the Company acquires evidence or
        determines that Employee has failed to abide by the terms of this Agreement, including Sections 6, 7 or 8 of this Agreement, then the Company shall have the right to cease the payment of any future installments of the Severance Payment, the
        Additional Severance Payment, and the COBRA Benefit, and Employee shall promptly return to the Company all installments (or lump sum), as applicable, of the Severance Payment, the Additional Severance Payment, and the COBRA Benefit received by
        Employee prior to the date that the Company determines that the conditions of this Section 9 have been satisfied.

     

    10.        Representations and Warranties Regarding Claims. Employee represents and warrants that, as of the Signing Date (as defined below), he has not
        filed any lawsuits against the Company or any of the other Company Parties with any state or federal court or arbitrator for, or with respect to, a matter, claim, or incident, act or omission that occurred or arose out of one or more occurrences
        that took place on or prior to the Signing Date. Employee further represents and warrants that he has not made any assignment, sale, delivery, transfer, or conveyance of any rights Employee has asserted or may have against the Company or any of the
        other Company Parties with respect to any Released Claim.

     

    11.          Review of Agreement.

     

    (a)          The Company
        hereby advises Employee to consult with an attorney of his choosing before signing this Agreement.  Employee acknowledges and agrees that, (i) Employee has been fully informed and is fully aware of Employee’s right to discuss any and all aspects of
        this Agreement with an attorney of Employee’s choice; (ii) Employee has had sufficient time (and at least a full twenty-one (21) calendar days from the date Employee received this Agreement) to consider this Agreement before signing it; (iii)
        Employee is receiving, pursuant to this Agreement, consideration in addition to anything of value to which he is already entitled; (iv) neither the Company nor any other Company Party has provided any tax or legal advice to Employee regarding this
        Agreement, and Employee has had an adequate opportunity to receive sufficient tax and legal advice from advisors of his own choosing such that Employee enters into this Agreement voluntarily and with full understanding of the tax and legal
        implications thereof; and (v) Employee fully understands the final and binding effect of this Agreement, is signing this Agreement knowingly, voluntarily, and of his own free will, and understands and agrees to each of the terms and conditions of
        this Agreement.  In order to receive the consideration set forth in Section 2 of this Agreement, Employee must return the signed Agreement to the Company, care of Steve Brehm, Vice President of Legal Affairs, 12601 Plantside Drive, Louisville,
        Kentucky 40299 or via e-mail to sbrehm@charah.com so that it is received by Mr. Brehm no
          later than 11:59 p.m. Eastern Time on December 5, 2022.  Employee may not sign this Agreement before the Separation Date.  The date Employee executes this Agreement is referred to herein as the “Signing Date”.

     

    (b)          Notwithstanding
        the initial effectiveness of this Agreement, Employee may revoke the delivery (and therefore the effectiveness) of this Agreement within the seven (7)-day period beginning on the Signing Date (such seven (7)-day period being referred to herein as
        the “Revocation Period”).  To be effective, such revocation must be in writing signed by Employee and must be received by the Company, care
        of Steve Brehm, Vice President of Legal Affairs, 12601 Plantside Drive, Louisville, Kentucky 40299 or via e-mail to sbrehm@charah.com so that it is received by Mr. Brehm
        no later than 11:59 p.m. Eastern Time, on the last day of the Revocation Period.  In the event Employee exercises his revocation right as set forth herein, this Agreement will be of no force or effect (but Employee’s voluntary resignation from
        employment and the resignations described in Section 1(b) of this Agreement, in each case, shall still be effective as of the Separation Date), Employee will not be entitled to receive the consideration set forth in Section 2 of the Agreement.

     

    
      7

      
        

    

    12.         No Waiver. No failure by any Party at any time to give notice of any breach by the other Party of, or to require compliance with, any provision
        of this Agreement shall be deemed a waiver of similar or dissimilar provisions at the same or at any prior or subsequent time.

     

    13.         Applicable Law; Dispute Resolution.

     

    (a)          This
        Agreement is governed by the laws of the Commonwealth of Kentucky; provided, however, Sections 2(c) and 5 herein shall be governed by the laws of the state of Delaware.

     

    (b)        Any dispute
        arising out of or relating to this Agreement shall be subject to the dispute resolution procedures set forth in Section 12 of the Employment Agreement, which are hereby incorporated by reference.  In incorporating such dispute resolution (including
        arbitration) provisions, THE PARTIES ARE KNOWINGLY AND VOLUNTARILY WAIVING THEIR RIGHTS TO A JURY TRIAL.  Notwithstanding the foregoing, any dispute arising out of or relating to Sections 2(c) or 5 herein shall be subject to the provisions of
        Section 14.9 of the Plan, which are hereby incorporated by reference.

     

    14.        Return of Property.  Employee represents and warrants that Employee has returned to the Company all property belonging to the Company and any
        other Company Party, including all computer files and other electronically stored information, client materials, electronically stored information, and other materials provided to Employee by the Company or any other Company Party in the course of
        Employee’s employment and Employee further represents and warrants that Employee has not maintained a copy of any such materials in any form.

     

    15.         Severability. Any term of this
        Agreement, or portion of such a term, that renders such term or any other term of this Agreement invalid or unenforceable in any respect shall be severable and shall be modified or severed to the extent necessary to avoid rendering such term
        invalid or unenforceable, and such modification or severance shall be accomplished in the manner that most nearly preserves the benefit of the Parties’ bargain in this Agreement.

     

    16.          Withholding of Taxes and Other Employee Deductions. Employee
        authorizes Company to withhold from all payments made pursuant to this Agreement all federal, state, local, and other taxes and withholdings as may be required pursuant to any law or governmental regulation or ruling.

     

    17.          Section 409A.

     

    (a)           The
        payments provided for in this Agreement are intended to comply with or be exempt from the requirements of Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”), and the Treasury regulations and interpretive guidance issued thereunder (collectively, “Section 409A”)
        and shall be construed and administered in accordance with such intent.  For purposes of Section 409A, each installment payment hereunder shall each be treated as a separate payment.

     

    
      8

      
        

    

    (b)         Notwithstanding
        any provision in this Agreement to the contrary, if any payment or benefit provided for herein would be subject to additional taxes and interest under Section 409A if Employee’s receipt of such payment or benefit is not delayed until the earlier of
        (i) the date of Employee’s death or (ii) the date that is six (6) months after the Separation Date (the applicable date, the “Section 409A Payment
          Date”), then such payment or benefit shall not be provided to Employee (or Employee’s estate, if applicable), until the Section 409A Payment Date.

     

    (c)          Notwithstanding
        the foregoing, the Company makes no representations that the benefits provided under this Agreement are exempt from or comply with the requirements of Section 409A and in no event shall the Company or any other Company Party be liable for all or
        any portion of any taxes, penalties, interest, or other expenses that may be incurred by Employee on account of non-compliance with Section 409A.

     

    18.          Counterparts. This Agreement may
        be executed in one or more counterparts (including portable document format (.pdf) and facsimile counterparts), each of which shall be deemed to be an original, but all of which together constitute one and the same Agreement.

     

    19.         Third-Party Beneficiaries. Each
        Company Party that is not a signatory to this Agreement shall be a third-party beneficiary of Employee’s promises and release of claims in this Agreement and is entitled to rely upon and enforce such provisions as if it was a party to this
        Agreement. Other than the Company Parties, Company and Employee do not intend for there to be any third-party beneficiaries of this Agreement.

     

    20.         Interpretation. Neither this Agreement nor any
        uncertainty or ambiguity with this Agreement shall be construed or resolved against any Party, whether under any rule of construction or otherwise. On the contrary, this Agreement has been reviewed by each Party and shall be construed and
        interpreted according to the ordinary meaning of the words used to fairly accomplish the purposes and intentions of the Parties.  Further, in this Agreement, (a) the use herein of the word “including” following any general statement, term or matter
        shall not be construed to limit such statement, term or matter to the specific items or matters set forth immediately following such word or to similar items or matters, whether or not non-limiting language (such as “without limitation,” “but not
        limited to,” or words of similar import) is used with reference thereto, but rather shall be deemed to refer to all other items or matters that could reasonably fall within the broadest possible scope of such general statement, term or matter; (b)
        references to Sections refer to Sections of this Agreement; (c) the words “this Agreement,” “herein,” “hereof,” “hereby,” “hereunder” and words of similar import refer to this Agreement as a whole (including the Exhibit hereto), and not to any
        particular subdivision unless expressly so limited; (d) reference to any agreement (including this Agreement), document or instrument, means such agreement, document or instrument as amended, restated or otherwise modified (including any waiver or
        consent) and in effect from time to time in accordance with the terms thereof; (e) reference to any law means such law as amended, modified, codified, reenacted or replaced and in effect from time to time; and (f) references to “or” shall be
        interpreted to mean “and/or.”  The Section titles and headings in this Agreement are inserted for convenience of reference only and are not intended to be a part of, or to affect the meaning or interpretation of, this Agreement.

     

    
      9

      
        

    

    21.         Amendment; Entire Agreement. This Agreement may not be
        changed orally but only by an agreement in writing and signed by the Parties. This Agreement and, with respect to the Restrictive Covenants, the cooperation provisions referenced above in Section 8, and the dispute resolution provisions referenced
        above in Section 13, the Employment Agreement, constitute the entire agreement of the Parties with regard to the subject matter hereof and supersede all prior and contemporaneous agreements and understandings, oral or written, between Employee and
        the Company or any other Company Party with regard to the subject matter hereof.  Notwithstanding the foregoing, Employee’s commitments herein with respect to confidentiality and non-disclosure, return of property, non-competition,
        non-solicitation, and non-disparagement are in addition to all other obligations that Employee may have to the Company Parties with respect to such matters, whether such obligations arise by contract, common law, statute, or otherwise.

     

    [Signature Page Follows.]

     

    
      10

      
        

    

    The Company has caused this Agreement to be executed by a duly authorized representative and Employee has executed this
      Agreement, in each case, as of the dates set forth beneath their signature blocks below. Employee’s signature represents that he (1) understands this Agreement
        contains a voluntary waiver of all known or unknown claims in exchange for the consideration in Section 2; (2) was advised to consult with an attorney before signing; and (3) has read this entire Agreement carefully before signing and understands
        and agrees with all of its terms.

     

    
      	
              SCOTT SEWELL

            	

            	
              CHARAH, LLC

            
	

            	

            	

            
	
              /s/ Scott Sewell

            	

            	
              By /s/ Steve Brehm

            
	
              Signature

            	

            	
              Name: Steve Brehm

            
	

            	

            	
              Title: Vice President of Legal Affairs and Corporate Secretary

            
	

            	

            	

            
	
              November 14, 2022

            	

            	
              November 14, 2022

            
	
              Date

            	

            	
              Date

            
	

            	

            	

            
	

            	

            	
              With respect to those portions of Sections 2, 5 and 13
                  applicable to it:

            
	 	 	 
	 	 	
              CHARAH SOLUTIONS, INC.

            
	 	 	 
	 	 	
              By /s/ Steve Brehm

            
	 	 	
              Name: Steve Brehm

            
	 	 	
              Title: Vice President of Legal Affairs and Corporate Secretary

            

    

    

    

    

    11

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