Document:

EX-4.11

 Exhibit 4.11 
 Insurance Sales Framework Agreement 
 between 

China Life Property and Casualty Insurance Company Limited 
 And 
 China Life Insurance Company Limited 

 Table of Contents 

 

							
	 1.
	 	AUTHORIZATION	  	 	4	  
			
	 2.
	 	BASIC PRINCIPLES	  	 	4	  
			
	 3.
	 	SCOPE OF AGENCY	  	 	5	  
			
	 4.
	 	TRAINING	  	 	5	  
			
	 5.
	 	SALES MANAGEMENT AND DATA FURNISHING	  	 	6	  
			
	 6.
	 	MANAGEMENT OF DOCUMENTATION	  	 	6	  
			
	 7.
	 	COORDINATION MECHANISM	  	 	7	  
			
	 8.
	 	PREMIUM COLLECTION AND SETTLEMENT	  	 	7	  
			
	 9.
	 	INSURANCE AGENCY SERVICE FEES	  	 	8	  
			
	 10.
	 	TAXATION	  	 	9	  
			
	 11.
	 	ANTI-MONEY LAUNDERING	  	 	9	  
			
	 12.
	 	REPRESENTATIONS, WARRANTIES AND UNDERTAKINGS	  	 	10	  
			
	 13.
	 	TERM	  	 	10	  
			
	 14.
	 	INDEMNIFICATION	  	 	10	  
			
	 15.
	 	DEFAULT LIABILITIES	  	 	11	  
			
	 16.
	 	TERMINATION	  	 	11	  
			
	 17.
	 	FORCE MAJEURE	  	 	12	  
			
	 18.
	 	CONFIDENTIALITY	  	 	13	  
			
	 19.
	 	ASSIGNMENT	  	 	13	  
			
	 20.
	 	NON-WAIVER	  	 	13	  
			
	 21.
	 	NOTICES	  	 	13	  
			
	 22.
	 	PERFORMANCE OF THIS AGREEMENT	  	 	14	  
			
	 23.
	 	FURTHER ACTIONS	  	 	14	  
			
	 24.
	 	GOVERNING LAW AND DISPUTES RESOLUTION	  	 	14	  
			
	 25.
	 	EFFECTIVENESS, COUNTERPARTS AND AMENDMENTS	  	 	15	  

  
 2 

 This Insurance Sales Framework Agreement (regarding China Life Insurance Company Limited acting as an agent
of China Life Property and Casualty Insurance Company Limited) (this “Agreement”), is entered into on March 8, 2012 in Beijing, People’s Republic of China (“PRC”), by and between the following two parties: 

 

	(1)	China Life Property and Casualty Insurance Company Limited (“Party A”) 

 Address: 15/F, China Life Center, No. 17 Financial Street, Xicheng District, Beijing 
 Legal representative: Yuan Li 
  

	(2)	China Life Insurance Company Limited (“Party B”) 

 Address: China Life Plaza, No. 16 Financial Street, Xicheng District, Beijing 

Legal representative: Yuan Li 

Whereas: 
  

	(1)	Party A is a joint stock company duly organized and existing under the laws of the PRC, and primarily engaging in property and casualty insurance business.

  

	(2)	Party B is a joint stock company duly organized and existing under the laws of the PRC, and primarily engaging in life insurance business. 

 

	(3)	In order to carry out and implement the overall operational and development strategies of China Life Insurance (Group) Company (“CLIC”), proactively expand
insurance service scope, practically meet customers’ comprehensive insurance needs, continuously stabilize the team of life insurance agents and effectively improve the brand value of China Life, Party A and Party B agree to establish a
cooperative relationship regarding the exclusive mutual sales agency services of property and casualty insurance business and life insurance business. 

  

	(4)	Party A and Party B will first make fair and reasonable arrangements for the sales agency of property and casualty insurance business. Sales of Party B’s insurance
products by Party A as an agent may be otherwise specified in accordance with principles under this Agreement. 

 Therefore, after
friendly negotiation and on the basis of equality and mutual benefits, Party A and Party B agree as follows: 
 Terms and Definitions:

  

	(1)	“Mutual agency services” means the sales agency services of insurance products or other financial products / instruments among members of China Life Insurance
(Group) Company, such as sales agency service of property and casualty insurance products by the members engaging in life insurance business, sales agency service of life insurance products by the members engaging in property and casualty insurance
business, and the sales agency services of annuity products by the members engaging in life insurance business, etc. 

  
 3 

	(2)	“Business” means Party B’s acting as Party A’s agent to sell Party A’s insurance products and providing relevant services on Party A’s
behalf by taking advantage of Party B’s strengthens in sales personnel, network and system. 

  

	(3)	“Agency Service Fee” means the fee incurred by the Business and payable by Party A to Party B, which includes, with respect to its purposes, sales management
fee and sales service fee. 

 “Sales Management Fee” means fees paid by Party A to Party B’s sales
units for the management of the above sales agency business, including, without limitation, compensation for resources occupied by such units of Party B, such as compensation for occupation of workplace, sales team allowance, business promotion,
meetings, trainings, and Party A’s pro rata share of remuneration for Party B’s sales management officers. 

“Sales Service Fee” means fees paid by Party A to Party B for the service provided with respect to the above sales agency
business, which shall be compensation for the fees paid by Party B to its sales personnel in relation to the sales of property and casualty insurance products. 
  

	(4)	“Dedicated Sales Person for Property and Casualty Insurance” means the personnel recruited by party A, but stationed at Party B’s workplace, primarily
providing sales support to Party B’s sales personnel who engage in the sales of property and casualty insurance products. Party B has the right to regulate and supervise conducts of the Dedicated Sales Person for Property and Casualty Insurance
within its workplace. 

  

	1.	Authorization 

 In accordance
with the terms and conditions of this Agreement, Party A authorizes Party B as its agent to sell the property and casualty insurance products specified hereunder and shall in return pay Party B relevant fees pursuant to provisions provided herein.
Party B agrees to and accepts such authorization. 
  

	2.	Basic Principles 

  

	 	2.1.	Party B shall perform the duties as an insurance agent in accordance with this Agreement, and any legal liabilities arising out of such performance shall be undertaken
by Party A, provided that Party B’s acts shall be subject to the scope of the above authorization. 

  
 4 

	 	2.2.	Party B shall have a fiduciary duty to Party A, which requires Party B to diligently perform its duties as agent on the promise that Party B complies with applicable
laws, regulations and provisions and requirements by China Insurance Regulatory Commission (the “CIRC”). 

  

	 	2.3.	Party B shall, subject to applicable laws, regulations, regulatory rules by the CIRC, development strategy of “strong core business, appropriately diversified
operations” determined by CLIC, the principle of “internal marketization and mutual benefits”, covenants under this Agreement and detailed agreements entered into by branches of both Party A and Party B, and in accordance with
management rules, regulations, business standard and procedures regarding the above insurance sales agency business established by Party A or Party B in writing (as amended from time to time), and accepted by both Party A and Party B, carry out the
property and casualty insurance business as an agent. 

  

	 	2.4.	Party A shall be responsible for preparation of insurance documentation necessary to the sales agency services specified herein, and affix official stamp to such
documentations for the purpose of the sales agency services. 

  

	 	2.5.	Subject to Party A’s approval, Party B may authorize insurance sales personnel who have contractual relationship with Party B to, in whole or part, engage in the
sales agency services specified herein. Any legal liabilities arising out of the conducts by such insurance sales personnel, to the extent permitted by Party B’s authorization, shall be assumed by Party A. 

 

	3.	Scope of Agency 

 Party A
authorizes Party B, to the extent within the authorized territories, act as an agent to sell insurance products designated by Party A (including, with no limitation, products of statutory and mandatory insurance, automobile insurance, enterprise
property insurance, family property insurance, engineering insurance, liability insurance, cargo transportation insurance, special risk insurance and comprehensive insurance, etc.) and collect premiums on Party A’s behalf. 

 

	4.	Training 

 Party A and Party B
shall cooperate with each other closely regarding relevant business trainings, establish training systems of insurance sales agency together and formulate training plans. Party A shall, with Party B’s reasonable support and cooperation, be
responsible for the development of training materials, initiatively provide teaching resources and training information to Party B, and provide efficient and practical training guidance to Party B with respect to the sales agency services specified
herein. As required by business development, Party B shall arrange trainings in different forms and for different levels of staff. 

  
 5 

	5.	Sales management and data furnishing 

  

	 	5.1.	Subject to the Interim Measures on the Administration of Non-dedicated Insurance Agency, Pilot Measures on Non-dedicated Insurance Agents, the Circular on Regulating
Insurance Companies on Intra-Agency Business, the Provisions on the Administration of Insurance Salespersons and other applicable administrative rules issued by the CIRC, and in accordance with relevant management system of insurance sales agency
business established by Party A or Party B in writing and accepted by both Party A and Party B, Party A and Party B shall strictly regulate and manage acts of their respective branch units, sales teams and staff. 

 

	 	5.2.	Dedicated Sales Person for Property and Casualty Insurance seconded by Party A to station at Party B’s workplace shall provide sales support and relevant services
to Party B’s sales personnel regarding the insurance sales agency business specified herein. Party B shall provide necessary working conditions for the Dedicated Sales Person for Property and Casualty Insurance. Dedicated Sales Person for
Property and Casualty Insurance shall not take advantage of their capacity to engage in business activities that are in competition with Party B’s business. Party B has the right to manage the acts of the Dedicated Sales Person for Property and
Casualty Insurance within Party B’s workplace to ensure a regulated business operation. 

  

	 	5.3.	Party B’s sales of Party A’s insurance products as an agent shall be taken into account to an appropriate extent for the purpose of the performance appraisal
of Party B’s sales units and sales personnel. 

  

	 	5.4.	In compliance with applicable laws, regulations, regulatory rules and requirements by the CIRC, or as required by the statutory information disclosure obligation of
Party B as a listed company, Party A shall furnish relevant business and financial data to Party B on a timely basis. 

  

	 	5.5.	Party A and Party B shall together establish an information sharing system and obtain data necessary to the operation of insurance sales agency business through IT data
exchange. Party A shall, at the request of Party B, periodically provide accurate and complete information in relation to the sales agency services specified herein to Party B. 

 

	6.	Management of documentation 

  

	 	6.1.	Party A shall be entitled to the ownership of insurance documentation (including, with no limitation, business documentation and financial documentation, other than
copies for customers) relating to the sales agency business specified herein. 

  
 6 

	 	6.2.	Party A shall prepare and manage insurance documentation necessary to the sales agency business specified herein. Party B shall use such documentation in a manner in
compliance with the rules governing insurance sales agency documentation management set forth by Party A in writing and accepted by both Party A and Party B. 

 

	 	6.3.	Upon the termination of this Agreement, Party B shall return all of such documentation held by Party B to Party A. 

 

	7.	Coordination mechanism 

  

	 	7.1.	In furtherance of a sound and orderly development of the insurance sales agency business specified herein, Party A and Party B shall together establish a coordination
mechanism for the sales agency business. 

  

	 	7.2.	Party A and Party B shall together establish coordination committees for intra-agency business at the headquarters, branch offices at the provincial and regional
levels, with subordinate execution teams, being responsible for preparing and reviewing significant policies, systems and implementation plans in relation to the sales agency business, and coordinating on relevant important issues.

  

	8.	Premium collection and settlement 

  

	 	8.1.	The fee collector sent by Party A to station at Party B’s workplace shall be responsible for collecting premiums relating to the insurance sales agency business
specified herein (the “Premiums”). 

  

	 	8.2.	The Premiums shall be deposited into Party A’s account of premium income, with detailed settlement issues specified under agreement otherwise entered into by Party
A and Party B’s respective branch offices. Party A and Party B’s respective branch offices at different levels shall, on a timely basis and in accordance with management rules regarding the insurance sales agency business and covenants
under relevant agreements, review and confirm the paid-in Premiums during the accounting period. 

  

	 	8.3.	Party B shall cause its sales personnel to settle the Premiums with Party A. 

 

	 	8.4.	The Premiums shall be invoiced in a manner determined through negotiation between Party A and Party B’s respective branch offices and subject to the approval by
local competent tax authority. The details shall be specified under agreements entered into by such branch offices, together with management requirements of documentation. 

  
 7 

	9.	Insurance agency service fees 

  

	 	9.1.	Based on the principles of equality and fairness, in compliance with applicable regulations of the CIRC and the Ministry of Finance, and subject to the listing rules of
the jurisdictions where Party B is listed, the standard for Sales Management Fee shall be determined by Party A and Party B by reference to the cost incurred by Party B (inclusive of tax) plus a marginal profit. 

 

	 	9.2.	Party A shall pay Sales Service Fee to Party B in accordance with standard for sales agency services fee of specific insurance products determined through negotiation
between Party A and Party B’s branch offices by reference to market prices. 

  

	 	9.3.	Agency Service Fee shall be calculated and paid in proportion to the paid-in Premiums. Standards for payment, payment recipient and payment procedures shall, to the
extent within the standard scope issued by regulatory authorities, be determined by branch offices of Party A and Party B through negotiation and be specified in relevant agreements. 

 

	 	9.4.	Party A shall pay Service Management Fee based on the paid-in Premiums (exclusive of the premiums earned from compulsory traffic accident liability insurance) to Party
B. 

  

	 	9.5.	Party A and Party B shall, complete checking of the transaction data and settlement of bills for the connected transactions, including the intra-agency business service
fees, two weeks in advance before the filing date of Party B’s quarterly or annual financial reports. 

  

	 	9.6.	Agency Service Fee shall, subject to the satisfaction of the above Article 9.5, be settled at least once a month, and be invoiced, subject to the satisfaction of
Article 8.4, once a month in the form of insurance intermediary service invoice that is in compliance with regulatory rules. 

  

	 	9.7.	With respect to the resources of one Party occupied and used by the other Party for the purpose of the insurance sales agency business (except for the resources
relating to sales) under this Agreement, relevant fees shall be paid to the Party providing such resources based on the principle of internal marketization by the Party which occupies and uses such resources. Matters relating to the use of resources
shall be determined through negotiation between branch offices of Party A and Party B and be specified in relevant agreements. 

  
 8 

	 	9.8.	(1) With respect to the circumstances such as development of significant projects and joint expansion that require Party A and Party B’s joint participation and
contribution, proportionate share of each Party’s cost and return shall be determined, case by case, in accordance with their respective input and contribution to relevant projects. 

 

	 	    	(2) Upon the termination of this Agreement, Party A and Party B shall settle the intra-agency service fees. 

 

	10.	Taxation 

  

	 	10.1.	Party A shall be responsible for all tax obligations required to be borne by Party A as tax obligor or withholding obligor pursuant to applicable tax laws and
regulations. 

  

	 	10.2.	Party B shall be responsible for all tax obligations required to be borne by Party B as tax obligor or withholding obligor pursuant to applicable tax laws and
regulations. 

  

	11.	Anti-money laundering 

 As
required by anti-money laundering regulatory authorities, Party A and Party B shall, in accordance with applicable laws and regulations including Anti-Money Laundering Law of the PRC, Administrative Measures on the Identification of Customers and
Records Maintenance of Customers’ Identity Information and Transaction Data by Financial Institutions, and Administrative Measures on Anti-Money Laundering within the Insurance Industry issued by the People’s Bank of China, China Banking
Regulatory Commission and China Securities Regulatory Commission, provide necessary assistance to each other, take effective measures to identify clients and jointly improve the cooperation in respect of anti-money laundering, which shall include:

 (1) Party B shall identify clients in accordance with Party A’s obligations under anti-money laundering laws and
regulations; 
 (2) Party B shall collect clients’ valid identity certificates or other copies or photocopies evidencing
such clients’ identities during sales agency services to enable Party A to obtain clients’ identification information on a timely basis; and 
 (3) Party A shall provide necessary assistance such as trainings to Party B for the purpose of identifying clients by Party B on behalf of Party A. 

  
 9 

	12.	Representations, warranties and undertakings 

 Each Party to this Agreement makes the following representations, warranties and undertakings to the other Party: 
 (1). It has obtained adequate power and authority (including but not limited to obtaining approvals, consents and permits from relevant regulatory authorities) to sign this Agreement; 

(2). After this Agreement comes into effect in the manner set forth herein, it shall be binding on such Party, and will be enforceable
against such Party in accordance with its terms; and 
 (3). All terms of this Agreement are in compliance with Articles of
Association of such Party, and with applicable laws and regulations of the PRC. 
  

	13.	Term 

  

	 	13.1.	This Agreement shall remain in effect for two years, and become effective once signed and sealed by Party A and Party B. Party A and Party B agree to assume rights and
obligations arising from the observance of terms of the previous agreement prior to the effectiveness of this Agreement. 

  

	 	13.2.	This Agreement shall be automatically renewed for one year unless one Party provides the other Party with a written notice thirty days prior to the expiration of the
then current term indicating its intention not to renew. 

  

	14.	Indemnification 

  

	 	14.1.	Any claim, suit, loss, judgment, damages, fines or expenses (hereinafter collectively referred to as “Loss”) sustained by Party B, its directors, officers,
employees, agents or representatives (hereinafter collectively referred to as “Indemnified Party”) during the performance of their duties under this Agreement, shall be fully indemnified by Party A. Party A shall hold the Indemnified Party
harmless against any such Loss and/or liability, unless it is finally determined through legal or administrative procedures or consultations between Party A and Party B that such Loss and/or liability is caused due to the Indemnified Party’s
willful misconducts or gross negligence. 

  

	 	14.2.	This indemnity clause shall survive the termination of this Agreement, regardless of the manner in which this Agreement is terminated. 

  
 10 

	15.	Default liabilities 

  

	 	15.1.	In the event that Party A fails to or is unable to pay to Party B the intra-agency service fees in accordance with the terms of this Agreement, it shall bear default
liabilities. 

  

	 	15.2.	With respect to any direct economic loss sustained by Party A due to Party B’s breach of the term of this Agreement during its operation of the sales agency
business, Party B shall, to the extent of the intra-agency services fees collected during the applicable billing period, compensate Party A for such losses, except for the losses caused by Party B’s willful misconduct and gross negligence as
finally determined through legal or administrative procedures or consultations between Party A and Party B. Party B shall not bear any default liabilities arising out of the agency services except for the liabilities arising from subauthorization
under Article 2.5. 

  

	16.	Termination 

  

	 	16.1.	This Agreement may be terminated by Party A and Party B through consultation. 

 

	 	16.2.	During the term of this Agreement, Party A may terminate this Agreement upon the occurrence of any of the following circumstances: 

(1). Party B severely revises without approval or forges insurance documentation. 

(2). Party B is not qualified to act as an agent for Party A or loses such qualification; 

(3). Party B’s breach of other provisions of this Agreement or violation of applicable laws and regulations results in Party A’s
significant losses. 
  

	 	16.3.	During the term of this Agreement, Party B may terminate this Agreement upon the occurrence of any of the following circumstances: 

(1). Party A adjusts the types of insurance products to be sold by Party B without notifying Party B promptly or entering into a
supplementary agreement; 
 (2). Party A fails to pay intra-agency services fees ninety days after such fees become due and
payable; 
 (3). Party A is in breach of provisions under this Agreement and causes significant losses to Party B. 

  
 11 

	 	16.4.	 In the event that one Party wishes to terminate this Agreement in accordance with Article 15.2 or Article 15.3 of this Agreement, the other Party shall
be notified in writing thirty days in advance. Unless approved by the other Party, this Agreement shall be deemed to have been terminated the 30th day following the delivery to the other Party such written notice. 

 

	 	16.5.	In the event that this Agreement is not renewed upon the expiration of its term or its renewal term, this Agreement shall be deemed to have been terminated.

  

	17.	Force Majeure 

  

	 	17.1.	If one Party fails to perform in whole or in part its duties under this Agreement due to an event of force majeure, its obligation under such duties shall be suspended
during the affected period of such event. 

  

	 	17.2.	The Party claiming that it is being affected by an event of force majeure shall notify the other Party of such event in writing as soon as practicable, and shall
provide the other Party with appropriate proof evidencing the existence and duration of such event within 15 days after the occurrence thereof. The Party claiming that the performance of its obligations under this Agreement objectively becomes
impossible and impracticable due to such event of force majeure shall take all reasonable measures to eliminate or alleviate the consequences resulting from such event. 

 

	 	17.3.	Upon the occurrence of any event of force majeure, Party A and Party B shall immediately consult with each other in a friendly manner in respect of the performance of
their obligations under this Agreement, and shall immediately resume the performance of their respective obligations hereunder upon the termination or elimination of such event of force majeure or its effect. 

 

	 	17.4.	Force majeure means the objective circumstances that cannot be reasonably foreseen, avoided or overcome, and will substantially affect the performance of obligations
under this Agreement by one Party or both Parties, including but not limited to natural disasters such as flood, earthquake, typhoon, and plague, war, military action, conflict, terrorist attack, strike, governmental administrative action, changes
in national laws, regulations, rules and policies. 

  
 12 

	18.	Confidentiality 

  

	 	18.1.	Party A and Party B shall cause their respective offices and staff to assume confidentiality obligations with respect to the trade secrets known by such offices and
staff, including: 

 (1). Party A and Party B shall strengthen confidentiality rules and measures on the
maintenance of confidential materials. The standard applicable to the maintenance of duplicates of any confidential materials shall be the same as that applicable to the original copies; 

(2). Unless otherwise approved by the other Party in writing, relevant trade secrets shall not be disclosed to or permitted to be used by
a third party; 
 (3). Relevant trade secrets shall not be used for a purpose other than the purpose of this Agreement.

  

	 	18.2.	Party B shall keep strictly confidential the business information, assets data and personal privacy regarding Party A, the insurer, the insured or the beneficiaries
that Party B becomes aware of during business operation. 

  

	 	18.3.	The above provisions under this Article 18 shall not be applicable to the disclosure that is made as required otherwise by laws or competent regulatory bodies, or in
compliance with the statutory disclosing requirement governing Party B as a listed company, provided that Party A’s written approval shall be obtained. 

 

	19.	Assignment 

 Neither Party may
assign any right or obligation under this Agreement without the prior written approval of the other Party. 
  

	20.	Non-Waiver 

 Unless otherwise
provided for by law, no delay or failure on the part of either Party hereto to exercise any right, power or privilege under this Agreement shall operate as a waiver thereof, nor shall any partial exercise of any right, power or privilege preclude
the further exercise of such right, power or privilege. 
  

	21.	Notices 

 Any notice related to
this Agreement shall be sent in writing, and shall be delivered in person or by fax or mail. If delivered in person, such notice shall be deemed duly delivered once delivered. If sent by fax, such notice shall be deemed duly delivered once
transmitted (return receipt required). If delivered by mail, such notice shall be deemed duly delivered the third business day (or correspondingly postponed in case of a public holiday) following the day such notice was mailed. Notices shall become
effective upon delivery. 

  
 13 

 Addresses of the Parties are as follows: 

 

					
			
		 	 China Life Property and Casualty

Insurance Company Limited
	  	 China Life Insurance Company

Limited

			
		 	 Address: 15/F, China Life Center, No.
 17 Financial Street, Xicheng District,
 Beijing
	  	 Address: China Life Plaza, No. 16
 Financial Street, Xicheng District,
 Beijing

			
		 	Telephone: 010-66190000	  	Telephone: 010-63633333
			
		 	Fax: 010-66190166	  	Fax: 010-66575722

  

	22.	Performance of this Agreement 

  

	 	22.1.	The transaction under this Agreement shall constitute a connected transaction of Part B. According to the Listing Rules, such transaction may be conducted only after
obtaining the waiver from relevant stock exchange or the approval of independent shareholders and/or in compliance with any other requirements governing connected transactions under the Listing Rules. Therefore, the performance of this Agreement
shall be subject to the approval of relevant stock exchange and/or any other requirements (becoming effective from time to time) governing connected transactions under the Listing Rules. Both Party A and Party B undertake to observe the relevant
requirements of the Listing Rules, and Party A agrees to assist Party B in complying with relevant Listing Rules. 

  

	 	22.2.	If exemption from relevant stock exchange is conditional, this Agreement shall be performed in accordance with such conditions. Both Party A and Party B undertake to
strictly observe such conditions. 

  

	23.	Further Actions 

 Both Parties
shall take further actions and measures in order to fully and effectively perform this Agreement, including consultations with each other to set forth the execution plan or detailed rules of this Agreement in accordance with the principles set forth
in this Agreement, and provided that such plan or rules shall not violate the terms hereof. 
  

	24.	Governing Law and Disputes Resolution 

  

	 	24.1.	This Agreement shall be governed by, construed and enforced in accordance with PRC laws. 

  
 14 

	 	24.2.	Any disputes arising from or related to this Agreement shall first be settled by Party A and Party B through friendly consultations. If the consultation fails, such
dispute may be submitted to China Life Insurance (Group) Company; if no resolution is achieved, either Party may submit such dispute to Beijing Arbitration Commission for arbitration in accordance with its then effective arbitration rules. The
arbitration award shall be final and binding upon both Party A and Party B. 

  

	25.	Effectiveness, Counterparts and Amendments 

  

	 	25.1.	This Agreement shall come into effect once signed and sealed by Party A and Party B’s respective legal representatives or authorized representatives.

  

	 	25.2.	This Agreement is executed in six originals, with three originals to be kept by each Party. Each original shall have the same legal effect. 

 

	 	25.3.	Any amendment or revision to this Agreement shall be made in writing and signed and sealed by the legal representative or authorized representative of each Party, and
shall be approved by each Party after taking appropriate corporate actions. Such amendment shall become effective upon the notification of and procurement of approval from the relevant stock exchange and/or a shareholders’ meeting of Party B
(if applicable) (subject to relevant rules under the Listing Rules that become effective from time to time and requirements of relevant stock exchange then in effect). 

 

	 	25.4.	If changes in PRC laws, regulations or departmental rules would affect the performance of this Agreement, Party A and Party B shall, based on the objectives of this
Agreement and in the principles of equity and reasonableness, through friendly negotiations, amend the affected provisions in a timely manner in order to eliminate and alleviate, to the extent possible, the impact caused by such changes.

  
 15 

			
	Party A:	  	Party B:
		
	 China Life Property and Casualty

    Insurance Company Limited
	  	 China Life Insurance Company Limited
  

		
	 Legal Representative/

Authorized Representative (Signature)
	  	 Legal Representative/

Authorized Representative (Signature)

  
 16EX-10.7

 Exhibit 10.7 
 EMPLOYMENT AGREEMENT 
 This EMPLOYMENT AGREEMENT (this
“Agreement”), is made and entered into effective as of March 1, 2012 (the “Effective Date”), by and between Waste Connections, Inc., a Delaware corporation (the “Company”), and Matthew Black
(the “Employee”). 
 The Company desires to engage the services and employment of the Employee for the period
provided in this Agreement, and the Employee is willing to accept employment by the Company for such period, on the terms and conditions set forth below. 
 NOW, THEREFORE, in consideration of the premises and the mutual covenants and conditions herein, the Company and the Employee agree as follows: 

1. Employment; Acceptance. The Company hereby employs the Employee and the Employee hereby accepts employment by the Company on
the terms and conditions hereinafter set forth. 
 2. Duties and Powers. The Employee is hereby employed as Vice
President and Chief Tax Officer, and, during the Term, the Employee shall devote Employee’s attention, energies and abilities in that capacity to the proper oversight and operation of the Company’s business, to the exclusion of any other
occupation. As Vice President and Chief Tax Officer, the Employee shall report to the Executive Vice President and Chief Financial Officer of the Company (the “CFO”), shall be based at the Company’s corporate headquarters
in Texas, and shall be responsible for oversight of the Company’s corporate tax matters and compliance. The Employee shall perform such other duties as the CFO, the Chief Executive Officer of the Company or the Board of Directors (the
“Board”) of the Company may reasonably assign to the Employee from time to time. The Employee shall devote such time and attention to Employee’s duties as are reasonably necessary to the proper discharge of Employee’s
responsibilities hereunder. The Employee agrees to perform all duties consistent with: (a) policies established from time to time by the Company; and (b) all applicable legal requirements. 

3. Term. The employment of the Employee by the Company pursuant to this Agreement shall commence on the Effective Date and
continue until the third anniversary thereof (the “Term”) or until terminated prior to such date when and as provided in Sections 7 and 8. On each anniversary of the Effective Date, this Agreement shall be extended
automatically for an additional year, thus extending the Term to three (3) years from each such date, unless either party shall have given the other notice of termination hereof as provided herein. 

4. Compensation. 
 4.1 Base Salary. Commencing on the Effective Date, during the Term, the Company hereby agrees to pay to the Employee an annual base salary of One Hundred Eighty Thousand Dollars ($180,000). When
used herein, “Base Salary” shall refer to the base salary described in the preceding sentence that is in effect at that time, and as may be increased from time to time. Such Base Salary shall be payable in accordance with the
Company’s normal payroll practices, and such Base Salary is subject to withholding and social security, unemployment and other taxes. Increases in Base Salary shall be considered by the Board and/or the Chief Executive Officer. 

  

					
		  	EMPLOYMENT AGREEMENT: M. BLACK	  	

 4.2 Performance Bonus. For the calendar year commencing
January 1, 2012, and for each calendar year thereafter, the Employee shall be eligible to receive an annual cash bonus (the “Bonus”) based on the Company’s attainment of reasonable financial objectives to be
determined annually by the Board, as well as Employee’s achievement of agreed upon goals annually. The annual Bonus target will equal Forty Percent (40%) of the applicable year’s beginning Base Salary and will be payable if the Board
determines, in its sole and exclusive discretion, that that year’s financial objectives have been fully met. The Bonus shall be paid in accordance with the Company’s bonus plan, as approved by the Board, and, in any event, within two and a
half (2  1/2) months after the end of the fiscal
year to which the bonus relates. 
 4.3 Equity Grants. Employee shall be entitled to participate in stock option
(“Option”), restricted stock (“Restricted Stock”), restricted stock units (“RSUs”) and other equity incentive programs presently in effect or in effect from time to time in the future on such terms
and to such level of participation as the Board or the Compensation Committee of the Board shall determine to be appropriate, bearing in mind the Employee’s position and responsibilities. 

Except as otherwise provided herein, the terms of any Options, Restricted Stock, RSUs and other equity incentives shall be governed by
the relevant plans under which they are granted and described in detail in applicable agreements between the Company and the Employee. 
 4.4 Other Benefits. The Employee shall be entitled to paid annual vacation time, which shall accrue on the same basis as for other employees of the Company of similar rank and in accordance with
the Company’s generally established policies, but which shall in no event be less than four (4) weeks for any twelve (12) month period. The Employee also shall be entitled to participate, on the same terms as other employees of the
Company participate, in any medical, dental or other health plan, pension plan, profit-sharing plan and life insurance plan that the Company may adopt or maintain, any of which may be changed, terminated or eliminated by the Company at any time in
its exclusive discretion. 
 5. Confidentiality. During the Term of Employee’s employment, and at all times
thereafter, the Employee shall not, without the prior written consent of the Company, divulge to any third party or use for Employee’s own benefit or the benefit of any third party or for any purpose other than the exclusive benefit of the
Company, any confidential or proprietary business or technical information revealed, obtained or developed in the course of Employee’s employment with the Company and which is otherwise the property of the Company or any of its affiliated
corporations, including, but not limited to, trade secrets, customer lists, formulae and processes of manufacture; provided, however, that nothing herein contained shall restrict the Employee’s ability to make such disclosures
during the course of Employee’s employment as may be necessary or appropriate to the effective and efficient discharge of Employee’s duties to the Company. 

  

					
		  	EMPLOYMENT AGREEMENT: M. BLACK	  	Page 2

 6. Property. Both during the Term of Employee’s employment and thereafter, the
Employee shall not remove from the Company’s offices or premises any Company documents, records, notebooks, files, correspondence, reports, memoranda and similar materials or property of any kind unless necessary in accordance with the duties
and responsibilities of Employee’s employment. In the event that any such material or property is removed, it shall be returned to its proper file or place of safekeeping as promptly as possible. The Employee shall not make, retain, remove or
distribute any copies, or divulge to any third person the nature or contents of any of the foregoing or of any other oral or written information to which Employee may have access, except as disclosure shall be necessary in the performance of
Employee’s assigned duties. On the termination of Employee’s employment with the Company, the Employee shall leave with or return to the Company all originals and copies of the foregoing then in Employee’s possession or subject to
Employee’s control, whether prepared by the Employee or by others. 
 7. Termination. 

7.1 For Cause. The Company, by action of the Board, may terminate this Agreement and the Employee’s employment for Cause (as
defined below) on delivery to the Employee of a Notice of Termination (as defined in Section 9.1 below). On such termination for Cause, the Employee shall be entitled only to the Employee’s Base Salary through the date of such
termination, and shall not be entitled to any other compensation, including, without limitation, any severance compensation. Without limitation of the foregoing, on termination pursuant to this Section 7.1, the Employee shall forfeit:
(a) Employee’s Bonus under Section 4.2 for the year in which such termination occurs; and (b) all outstanding but unvested Options and rights relating to capital stock of the Company and all RSUs and shares of the
Company’s Restricted Stock issued to the Employee that as of the termination date are still unvested and subject to restrictions on transfer. 
 7.2 Without Cause. The employment of the Employee may be terminated without Cause at any time by the Company on delivery to the Employee of a written Notice of Termination (as defined in
Section 9.1). In the event of such a termination without Cause pursuant to this Section 7.2 that constitutes Employee’s Separation From Service (as defined in Section 9.3), then, subject to the
Employee’s execution and non-revocation of a general release of all claims against the Company and its affiliates within sixty (60) days, or such shorter period of time specified by the Company, following the Date of Termination (as
defined in Section 9.2), the Company shall, in lieu of any payments under Section 4.1 and 4.2 for the remainder of the Term, pay to the Employee an amount equal to the lesser of: (a) the Employee’s Base
Salary for a period of one (1) year from the Date of Termination, and (b) the Employee’s Base Salary for the remainder of the Term (“Severance”). The Severance shall be paid in accordance with the Company’s
normal payroll practices and is subject to all withholding requirements under applicable law, with the first such payment to be paid on the sixtieth (60th) day following the Date of Termination inclusive of any installments that would have been paid had such
continuation payments commenced on the Date of Termination. In addition, the Employee shall be entitled to the pro-rated target Bonus available to the Employee under Section 4.2 for the year in which the termination occurs, taking into
account the bonus categories and weighting under the Company’s bonus plan and the Company’s and Employee’s achievement thereunder as of the Date of Termination. Further, the Company will pay as incurred the Employee’s expenses,
up to Fifteen Thousand Dollars ($15,000), associated with career counseling and resume development. The Company shall also pay to the Employee an amount equal to the Company’s portion (but not the Employee’s portion) of the cost of
medical, dental and vision plan insurance for Employee, 

  

					
		  	EMPLOYMENT AGREEMENT: M. BLACK	  	Page 3

 
Employee’s spouse and Employee’s children at the rate in effect on the Date of Termination for a period of one (1) year from the Date of Termination (the “Health Insurance
Benefit”). Notwithstanding the previous sentence, with regard to such continuation coverage, if the Company determines in its sole discretion that it cannot provide the foregoing benefit without potentially violating applicable law or
potentially incurring penalties, excise taxes and fees pursuant to the Internal Revenue Code of 1986, as amended (the “Code”) and the Department of Treasury regulations promulgated thereunder (including, without limitation,
Section 2716 of the Public Health Service Act), the Health Insurance Benefit shall terminate and the Employee shall not be eligible to receive any further benefits related to the Health Insurance Benefit other than as otherwise required by
applicable law. In addition, on termination of the Employee under this Section 7.2, all of the Employee’s outstanding but unvested Options and rights relating to capital stock of the Company shall immediately vest and become
exercisable, and all RSUs and shares of the Company’s Restricted Stock issued to the Employee shall immediately vest and become unrestricted and freely transferable. The exercisability of any such Options and rights shall be extended to the
earlier of (i) the expiration of the term of such Options and rights or (ii) the first (1st) anniversary of the Date of Termination. The Employee acknowledges that extending the exercisability of any incentive stock options pursuant to this Section 7.2 or Sections 7.3 or
7.4 below, could cause such option to lose its tax-qualified status if it is an incentive stock option under the Code and agrees that the Company shall have no obligation to compensate the Employee for any additional taxes he incurs as a
result. 
 7.3 Termination on Disability. If during the Term the Employee should fail to perform
Employee’s duties hereunder on account of Disability, the Company shall have the right, on written Notice of Termination delivered to the Employee, to terminate the Employee’s employment under this Agreement. During the period that the
Employee shall have been incapacitated due to physical or mental illness, the Employee shall continue to receive the full Base Salary provided for in Section 4.1 hereof at the rate then in effect until the Date of Termination pursuant to
this Section 7.3. In the event of Employee’s termination for Disability pursuant to this Section 7.3 that constitutes Employee’s Separation from Service, then on the Date of Termination, the Company shall, in lieu
of any payments under Sections 4.1 and 4.2 for the remainder of the Term, pay to the Employee the payments and other benefits applicable to termination without Cause set forth in Section 7.2 hereof, other than those related
to career counseling and resume development. The Company shall also pay the Health Insurance Benefit. Notwithstanding the previous sentence, with regard to such continuation coverage, if the Company determines in its sole discretion that it cannot
provide the foregoing benefit without potentially violating applicable law or potentially incurring penalties, excise taxes and fees pursuant to the Code and the Department of Treasury regulations promulgated thereunder (including, without
limitation, Section 2716 of the Public Health Service Act), the Health Insurance Benefit shall terminate and the Employee shall not be eligible to receive any further benefits related to the Health Insurance Benefit other than as otherwise
required by applicable law. In addition, on such termination, all of the Employee’s outstanding but unvested Options and rights relating to capital stock of the Company shall immediately vest and become exercisable, and all RSUs and shares of
the Company’s Restricted Stock issued to the Employee shall immediately vest and become unrestricted and freely transferable. The exercisability of any such Options and rights shall be extended to the earlier of (a) the expiration of the
term of such Options or rights or (b) the first
(1st) anniversary of the Employee’s termination.

  

					
		  	EMPLOYMENT AGREEMENT: M. BLACK	  	Page 4

 7.4 Termination on Death. If the Employee shall die during the
Term, the employment of the Employee shall thereupon terminate. On the Date of Termination pursuant to this Section 7.4, the Company shall pay, in lieu of any payments under Sections 4.1 and 4.2 for the remainder of the
Term, to the Employee’s estate the payments and other benefits applicable to termination without Cause set forth in Section 7.2 hereof, other than those related to career counseling, resume development and the Health Insurance
Benefit. In addition, on termination of the Employee under this Section 7.4, all of the Employee’s outstanding but unvested Options and rights relating to capital stock of the Company shall immediately vest and become exercisable,
and all RSUs and shares of the Company’s Restricted Stock issued to the Employee shall immediately vest and become unrestricted and freely transferable. The exercisability of any such Options and rights shall be extended to the earlier of
(a) the expiration of the term of such Options or rights or (b) the first (1st) anniversary of the Employee’s termination. The provisions of this Section 7.4 shall not affect the entitlements of the Employee’s heirs, executors, administrators, legatees,
beneficiaries or assigns under any employee benefit plan, fund or program of the Company. 
 7.5 No Limitation on
Company’s Right to Terminate. Any other provision in this Agreement to the contrary notwithstanding, the Company shall have the right, in its absolute discretion, to terminate this Agreement and the Employee’s employment hereunder at
any time in accordance with the foregoing provisions of this Section 7, it being the intent and purpose of the foregoing provisions of this Section 7 only to set forth the consequences of termination with respect to severance
or other compensation payable to the Employee on termination in the circumstances indicated. 
 8. Termination by
Employee. The Employee may terminate his employment hereunder on written Notice of Termination delivered to the Company setting forth the effective Date of Termination. If the Employee terminates his employment hereunder, he shall be entitled to
receive, and the Company agrees to pay on the effective Date of Termination specified in the Notice of Termination, his current Base Salary under Section 4.1 hereof on a prorated basis to such Date of Termination. On termination pursuant
to this Section 8, the Employee shall forfeit: (a) his Bonus under Section 4.2 for the year in which such termination occurs; and (b) all outstanding but unvested Options and rights relating to capital stock of the
Company, and all RSUs and shares of the Company’s Restricted Stock issued to the Employee that as of the termination date are still unvested and subject to restrictions on transfer. 

9. Provisions Applicable to Termination of Employment. 
 9.1 Notice of Termination. Any purported termination of Employee’s employment by the Company pursuant to Section 7 shall be communicated by Notice of Termination to the Employee as
provided herein, and shall state the specific termination provisions in this Agreement relied on and set forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of the Employee’s employment
(“Notice of Termination”). If the Employee terminates under Section 8, he shall give the Company a Notice of Termination. 

  

					
		  	EMPLOYMENT AGREEMENT: M. BLACK	  	Page 5

 9.2 Date of Termination. For all purposes, “Date of Termination”
shall mean, for Disability, thirty (30) days after Notice of Termination is given to the Employee (provided the Employee has not returned to duty on a full-time basis during such 30-day period), or, if the Employee’s employment is
terminated by the Company for any other reason or by the Employee, the date specified in the Notice of Termination, which shall in no event be more than thirty (30) days after the Notice of Termination is given. 

9.3 Separation from Service. To the extent that any payments or benefits constitutes non-exempt “nonqualified deferred
compensation” for purposes of Section 409A of the Code, “Separation from Service” shall mean Employee’s “separation from service” with the Company within the meaning of Section 409A of the Code and the
regulations and other guidance promulgated thereunder. 
 9.4 Cause. For purposes of this Agreement, the term
“Cause” shall mean: 
 (a) a material breach by the Employee of any of the terms of this Agreement that is not
immediately corrected following written notice of default specifying such breach; 
 (b) conviction of a felony; 

(c) a breach of any of the provisions of Section 11 below; 

(d) repeated intoxification with alcohol or drugs while on Company premises during its regular business hours to such a degree that, in
the reasonable judgment of the Chief Executive Officer or General Counsel of the Company, the Employee is abusive or incapable of performing his duties and responsibilities under this Agreement; and 

(e) misappropriation of property belonging to the Company and/or any of its affiliates. 

9.5 Disability. For the purposes of this Agreement, “Disability” shall mean the Employee’s failure to
perform his duties hereunder on account of physical or mental illness or other incapacity which the Board shall in good faith determine renders the Employee incapable of performing his duties hereunder, and such illness or other incapacity shall
continue for a period of more than six (6) consecutive months. 
 9.6 Benefits on Termination. On termination of
this Agreement by the Company pursuant to Section 7 or the Employee pursuant to Section 8, all profit-sharing, deferred compensation and other retirement benefits payable to the Employee under benefit plans in which the
Employee then participated shall be paid to the Employee in accordance with the provisions of the respective plans. 

  

					
		  	EMPLOYMENT AGREEMENT: M. BLACK	  	Page 6

 9.7 Section 409A. 

(a) To the extent applicable, this Agreement shall be interpreted and applied consistent and in accordance with or exempt from
Section 409A of the Code (together with Department of Treasury regulations and other official guidance issued thereunder, “Section 409A”)). Notwithstanding any provision of this Agreement to the contrary, if the Company
determines that any compensation or benefits payable under this Agreement may not either be exempt from or compliant with Section 409A, the Company may, with the Employee’s prior written consent, adopt such amendments to this Agreement or
adopt other policies and procedures (including amendments, policies and procedures with retroactive effect), or take any other actions, that the Company determines are necessary or appropriate to (i) exempt the compensation and benefits payable
under this Agreement from Section 409A and/or preserve the intended tax treatment of such compensation and benefits, or (ii) comply with the requirements of Section 409A; provided, however, that this
Section 9.7(a) does not create an obligation on the part of the Company to adopt any such amendment, policy or procedure or take any such other action. To the extent permitted under Section 409A, any separate payment or benefit
under this Agreement or otherwise shall not be deemed “nonqualified deferred compensation” subject to Section 409A to the extent provided in the exceptions in Treasury Regulation Section 1.409A-1(b)(4),
Section 1.409A-1(b)(9) or any other applicable exception or provision of Section 409A. 
 (b) Notwithstanding any
provision to the contrary in the Agreement, to the extent that any payment or benefits constitute non-exempt “nonqualified deferred compensation” for purposes of Section 409A, if the Employee is deemed by the Company at the time of
the Employee’s Separation from Service to be a “specified employee” for purposes of Section 409A(a)(2)(B)(i), to the extent delayed commencement of any portion of the benefits to which the Employee is entitled under this
Agreement is required in order to avoid a prohibited distribution under Section 409A(a)(2)(B)(i), such portion of the Employee’s benefits shall not be provided to the Employee prior to the earlier of (A) the expiration of the six
(6)-month period measured from the date of Employee’s “separation from service” with the Company (as such term is defined in the Treasury Regulations issued under Section 409A) or (B) the date of the Employee’s death.
Upon the expiration of the applicable Section 409A(a)(2)(B)(i) period, all payments deferred pursuant to this Section 9.7 shall be paid in a lump sum to the Employee, and any remaining payments due under this Agreement shall be paid
as otherwise provided herein. 
 (c) To the extent that any reimbursements payable pursuant to this Agreement are subject to
the provisions of Section 409A, any such reimbursements payable to Employee pursuant to this Agreement shall be paid to Employee no later than December 31 of the year following the year in which the expense was incurred, the amount of
expenses reimbursed in one year shall not affect the amount eligible for reimbursement in any subsequent year, and Employee’s right to reimbursement under this Agreement will not be subject to liquidation or exchange for another benefit.

 (d) For purposes of Section 409A (including, without limitation, for purposes of Treasury Regulation
Section 1.409A-2(b)(2)(iii)), Employee’s right to receive the installment payments under this Agreement shall be treated as a right to receive a series of separate payments and, accordingly, each such installment payment shall at all times
be considered a separate and distinct payment. 

  

					
		  	EMPLOYMENT AGREEMENT: M. BLACK	  	Page 7

 10. Change In Control. 

10.1 Payments on Termination within Two Years Following Change in Control. Subject to Section 9.7(b), if a Change in
Control (as defined below) occurs during the Term and the Employee’s employment with the Company is terminated without Cause within two years after the effective date of the Change in Control, then, in lieu of payments under Sections 4.1
and 4.2 for the remainder of the Term and under Sections 7.2, 7.3 or 7.4, the Employee shall be entitled to receive and the Company agrees to pay to the Employee Severance, as determined under Section 7.2;
provided, however, that such amount shall be payable in a lump sum on or within 60 days following the Date of Termination, subject to all withholding requirements under applicable law. In addition, the Employee shall be entitled to the
pro-rated target Bonus available to the Employee under Section 4.2 for the year in which the termination occurs, taking into account the bonus categories and weighting under the Company’s bonus plan and the Company’s and
Employee’s achievement thereunder as of the Date of Termination. The Company shall also pay the Health Insurance Benefit. Notwithstanding the previous sentence, with regard to such continuation coverage, if the Company determines in its sole
discretion that it cannot provide the foregoing benefit without potentially violating applicable law or potentially incurring penalties, excise taxes and fees pursuant to the Code and the Department of Treasury regulations promulgated thereunder
(including, without limitation, Section 2716 of the Public Health Service Act), the Health Insurance Benefit shall terminate and the Employee shall not be eligible to receive any further benefits related to the Health Insurance Benefit other
than as otherwise required by applicable law. 
 10.2 Definitions. For the purposes of this
Agreement, a Change in Control shall be deemed to have occurred if: (a) there shall be consummated (i) any reorganization, liquidation or consolidation of the Company, or any merger or other business combination of the Company with any
other corporation, other than any such merger or other combination that would result in the voting securities of the Company outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by being converted into
voting securities of the surviving entity) at least Fifty Percent (50%) of the total voting power represented by the voting securities of the Company or such surviving entity outstanding immediately after such transaction, and (ii) any
sale, lease, exchange or other transfer (in one (1) transaction or a series of related transactions) of all, or substantially all, of the assets of the Company; or (b) if any “person” (as defined in Section 13(d) and 14(d)
of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)), shall become the “beneficial owner” (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of Fifty Percent (50%) or more
of the Company’s outstanding voting securities (except that for purposes of this Section 10.2, “person” shall not include any person (or any person that controls, is controlled by or is under common control with such
person) who as of the date of this Agreement owns Ten Percent (10%) or more of the total voting power represented by the outstanding voting securities of the Company, or a trustee or other fiduciary holding securities under any employee benefit
plan of the Company, or a corporation that is owned directly or indirectly by the stockholders of the Company in substantially the same percentage as their ownership of the Company); or (c) during any twelve (12) month period, individuals
who, at the beginning of such period, constituted the entire Board, together with any new director(s) whose election by the Board or nomination for election by the Company’s shareholders was approved by a vote of a least one-half
( 1/2) of the directors then still in office who
either were directors at the beginning of the twelve (12) month period or whose election or nomination for election was previously so approved, shall cease for any reason to constitute at least one-half ( 1/2) of the membership of the Board. 

The term “Parent” means a corporation, partnership, trust, limited liability company or other entity that is the ultimate
“beneficial owner” (as defined above) of Fifty Percent (50%) or more of the Company’s outstanding voting securities. 

  

					
		  	EMPLOYMENT AGREEMENT: M. BLACK	  	Page 8

 No payments or benefits deemed non-qualified deferred compensation subject to
Section 409A shall be payable upon a Change in Control pursuant to this Agreement unless such Change in Control constitutes a “change in control event” with respect to the Company within the meaning of Section 409A. 

11. Non-Competition and Non-Solicitation. 
 11.1 The Employee acknowledges that in the Employee’s position of Vice President and Chief Tax Officer, the Employee occupies a position of trust and confidence. The Employee understands that the
following restrictions may limit the Employee’s ability to earn a livelihood in a business which, directly or indirectly, compete with the Company. However, the Employee agrees that the Employee will receive sufficient consideration and other
benefits as an Employee of the Company to clearly justify such restrictions which, in any event, given the Employee’s skills and ability will not prevent the Employee from earning a living. The Employee acknowledges that all restrictions
contained in this Section 11 are reasonable and valid as to time, geographical area, and scope of activity to be restrained for the adequate protection of the legitimate business interests and goodwill of the Corporation and are no
broader than is necessary to protect such interests and goodwill. In consideration of the provisions hereof, for the Restricted Period (as defined below), the Employee will not, except as specifically provided below, anywhere in any county of any
state within the geographic boundaries of the Company’s operations, which, for the purposes of any event occurring prior to the Date of Termination, shall mean the Company’s operations as existing as of the date of such event and, for the
purpose of any event occurring on or after the Date of Termination, shall mean the Company’s operations as existing on the Date of Termination (the “Restricted Territory”), directly or indirectly, acting individually or as the
owner, shareholder, partner or management employee of any entity: (a) engage in the operation of a solid waste collection, transporting or disposal business, transfer facility, recycling facility, materials recovery facility or solid waste
landfill; or (b) enter the employ as a manager of, or render any personal services to or for the benefit of, or assist in or facilitate the solicitation of customers for, or receive remuneration in the form of management salary, commissions or
otherwise from, any business engaged in such activities in such counties; or (c) receive or purchase a financial interest in, make a loan to, or make a gift in support of, any such business in any capacity, including without limitation, as a
sole proprietor, partner, shareholder, officer, director, principal agent or trustee; provided, however, that the Employee may own, directly or indirectly, solely as an investment, securities of any business traded on any national
securities exchange or quoted on any NASDAQ market, provided the Employee is not a controlling person of, or a member of a group which controls, such business and further provided that the Employee does not, in the aggregate,
directly or indirectly, own Two Percent (2%) or more of any class of securities of such business. The term “Restricted Period” shall mean the period commencing on the Effective Date and ending on the first anniversary of the
Date of Termination. 
 11.2 After termination of this Agreement by the Company or the Employee pursuant to
Section 7 or 8 or termination of this Agreement upon a Change in Control pursuant to Section 10, the Employee shall not: (a) solicit any residential or commercial customer of the Company to whom the Company
provides service pursuant to a franchise agreement with a public entity in the Restricted Territory; or (b) solicit any residential or commercial customer of the Company to enter into a solid waste collection account relationship with a
competitor of the Company in the Restricted Territory; or (c) solicit any such public entity to enter into a franchise agreement with any such competitor, or (d) solicit any officer, employee or contractor of the Company to enter into an
employment or contractor agreement with a competitor of the Company or otherwise interfere in any such relationship; or (e) solicit on behalf of a competitor of the Company any prospective customer of the Company in the Restricted Territory
that the Employee called on or was involved in soliciting on behalf of the Company during the Term, in each case until the first anniversary of the Date of Termination. 

  

					
		  	EMPLOYMENT AGREEMENT: M. BLACK	  	Page 9

 11.3 If the final judgment of a court of competent jurisdiction declares that any term or
provision of this Section 11 is invalid or unenforceable, the parties agree that the court making the determination of invalidity or unenforceability shall have the power to reduce the scope, duration or area of the term or provision, to
delete specified words or phrases or to replace any invalid or unenforceable term or provision with a term or provision that is valid and enforceable and that comes closest to expressing the intention of the invalid or unenforceable term or
provision, and this Agreement shall be enforceable as so modified after the expiration of the time within which the judgment may be appealed. 
 12. Indemnification. As an officer and agent of the Company, the Employee shall be fully indemnified by the Company to the fullest extent permitted by applicable law in connection with his
employment hereunder. 
 13. Limitation on Payments. Notwithstanding any other provisions of this Agreement, in the event
that any payment or benefit received or to be received by the Employee, whether pursuant to the terms of this Agreement or any other plan, arrangement or agreement (all such payments and benefits being hereinafter referred to as the “Total
Payments”), would be subject (in whole or part), to the excise tax imposed under Section 4999 of the Code (the “Excise Tax”), then, after taking into account any reduction in the Total Payments provided by reason of
Section 280G of the Code in such other plan, arrangement or agreement, the Total Payments shall be reduced as set forth herein, to the extent necessary so that no portion of the Total Payments is subject to the Excise Tax but only if
(a) the net amount of such Total Payments, as so reduced (and after subtracting the amount of all federal, state and local income and employment taxes payable with respect to the foregoing calculated at the maximum marginal income tax rate for
each year in which the foregoing shall be paid to the Employee (based on the rate in effect for such year as set forth in the Code as in effect at the time of the first payment of the foregoing) on such reduced Total Payments and after taking into
account the phase out of itemized deductions and personal exemptions attributable to such reduced Total Payments) is greater than or equal to (b) the net amount of such Total Payments without such reduction (but after subtracting the amount of
all federal, state and local income and employment taxes payable with respect to the foregoing calculated at the maximum marginal income tax rate for each year in which the foregoing shall be paid to the Employee (based on the rate in effect for
such year as set forth in the Code as in effect at the time of the first payment of the foregoing) on such Total Payments and the amount of Excise Tax to which the Employee would be subject in respect of such unreduced Total Payments and after
taking into account the phase out of itemized deductions and personal exemptions attributable to such unreduced Total Payments). The Total Payments shall be reduced by the Company in its reasonable discretion in the following order:
(i) reduction of any cash severance payments otherwise payable to the Employee that are exempt from 

  

					
		  	EMPLOYMENT AGREEMENT: M. BLACK	  	Page 10

 
Section 409A, (ii) reduction of any other cash payments or benefits otherwise payable to the Employee that are exempt from Section 409A, but excluding any payment attributable to
the acceleration of vesting or payment with respect to any equity award that is exempt from Section 409A, (iii) reduction of any other payments or benefits otherwise payable to the Employee on a pro-rata basis or such other manner that
complies with Section 409A, but excluding any payment attributable to the acceleration of vesting and payment with respect to any equity award that is exempt from Section 409A, and (iv) reduction of any payments attributable to the
acceleration of vesting or payment with respect to any equity award that is exempt from Section 409A. For purposes of determining whether and the extent to which the Total Payments will be subject to the Excise Tax, (A) no portion of the
Total Payments the receipt or enjoyment of which the Employee shall have waived at such time and in such manner as not to constitute a “payment” within the meaning of Section 280G(b) of the Code shall be taken into account,
(B) no portion of the Total Payments shall be taken into account which, in the opinion of independent counsel, consultants or advisors of nationally recognized standing (“Independent Advisors”) selected by the Company, does not
constitute a “parachute payment” within the meaning of Section 280G(b)(2) of the Code (including by reason of Section 280G(b)(4)(A) of the Code) and, in calculating the Excise Tax, no portion of such Total Payments shall be taken
into account which, in the opinion of Independent Advisors, constitutes reasonable compensation for services actually rendered, within the meaning of Section 280G(b)(4)(B) of the Code, in excess of the Base Amount (as defined in
Section 280G(b)(3) of the Code) allocable to such reasonable compensation, and (C) the value of any non cash benefit or any deferred payment or benefit included in the Total Payments shall be determined by the Independent Advisors in
accordance with the principles of Sections 280G(d)(3) and (4) of the Code. 
 14. Survival of Provisions. The
obligations of the Company under Section 12 of this Agreement, and of the Employee under Sections 5, 6 and 11 of this Agreement, shall survive both the termination of the Employee’s employment and this
Agreement. 
 15. No Duty to Mitigate; No Offset. The Employee shall not be required to mitigate damages or the amount of
any payment contemplated by this Agreement, nor shall any such payment be reduced by any earnings that the Employee may receive from any other sources or offset against any other payments made to him or required to be made to him pursuant to this
Agreement; provided, however, in the event that the Employee becomes entitled to or receives any severance, separation, notice or termination payments on account of his or her employment or termination of employment with the Company,
including, for example, any payments required to be paid to the Employee under any Federal, State or local law or pursuant to any agreement (except unemployment benefits payable in accordance with State or Federal law and payment for any unused but
accrued vacation), his or her severance benefits and payments payable under this Agreement shall be reduced by the amount of any such payments paid or payable. Notice and payments in lieu of notice of termination of employment pursuant to the
requirements of the Worker Adjustment and Retraining Notification Act and/or any similar federal, state or local law (collectively referred to as “WARN laws”) are subject to this Section. If the Employee is entitled to receive any
payments or benefits from the Company pursuant to WARN laws, then the severance benefits and payments payable under this Agreement shall be reduced by any and all such payments made or such benefits provided by the Company to such employee. If any
Employee is entitled to receive notice of termination from the Company pursuant to WARN laws, then the Severance payable under this Agreement shall be reduced by an amount equal to the amount of salary paid and health benefits provided during the
notice period provided to the employee by the Company. 

  

					
		  	EMPLOYMENT AGREEMENT: M. BLACK	  	Page 11

 16. Assignment; Binding Agreement. The Company may assign this Agreement to any
parent, subsidiary, affiliate or successor of the Company. This Agreement is not assignable by the Employee and is binding on him and his executors and other legal representatives. This Agreement shall bind the Company and its successors and assigns
and inure to the benefit of the Employee and his heirs, executors, administrators, personal representatives, legatees or devisees. The Company shall assign this Agreement to any entity that acquires its assets or business. 

17. Notice. Any written notice under this Agreement shall be personally delivered to the other party or sent by a nationally
recognized overnight delivery service or by certified or registered mail, return receipt requested and postage prepaid, to such party at the address set forth in the records of the Company or to such other address as either party may from time to
time specify by written notice. 
 18. Entire Agreement; Amendments. This Agreement contains the entire agreement of the
parties relating to the Employee’s employment and supersedes all oral or written prior discussions, agreements and understandings of every nature between them, except for that certain Indemnification Agreement, dated on or about the date
hereof, by and between the Company and the Employee, which shall remain in full force and effect. This Agreement may not be changed except by an agreement in writing signed by the Company and the Employee. 

19. Waiver. The waiver of a breach of any provision of this Agreement shall not operate as or be construed to be a waiver of any
other provision or subsequent breach of this Agreement. 
 20. Governing Law and Jurisdictional Agreement. This Agreement
shall be governed by and construed and enforced in accordance with the laws of the State of Texas. The parties irrevocably and unconditionally submit to the jurisdiction and venue of any court, federal or state, situated within Harris County, Texas,
for the purpose of any suit, action or other proceeding arising out of, or relating to or in connection with, this Agreement. 

21. Severability. In case any one or more of the provisions contained in this Agreement is, for any reason, held invalid in any
respect, such invalidity shall not affect the validity of any other provision of this Agreement, and such provision shall be deemed modified to the extent necessary to make it enforceable. 

  

					
		  	EMPLOYMENT AGREEMENT: M. BLACK	  	Page 12

 22. Enforcement. It is agreed that it is impossible to measure fully, in money, the
damage which will accrue to the Company in the event of a breach or threatened breach of Sections 5, 6, or 11 of this Agreement, and, in any action or proceeding to enforce the provisions of Sections 5, 6 or
11 hereof, the Employee waives the claim or defense that the Company has an adequate remedy at law and will not assert the claim or defense that such a remedy at law exists. The Company is entitled to injunctive relief to enforce the
provisions of such Sections as well as any and all other remedies available to it at law or in equity without the posting of any bond. The Employee agrees that if the Employee breaches any provision of Section 11, the Company may recover
as partial damages all profits realized by the Employee at any time prior to such recovery on the exercise, grant or issuance of any Option, Restricted Stock, RSU or other equity incentive and the subsequent sale of any shares of the Company’s
Common Stock obtained through such exercise, grant or issuance, and may also cancel all outstanding such Options, Restricted Stock, RSUs or other equity incentives. 
 23. Withholding. All compensation payable to the Employee is subject to all withholding requirements under applicable law. 

24. Counterparts. This Agreement may be executed in one or more facsimile or original counterparts, each of which shall be deemed
an original and both of which together shall constitute one and the same instrument. 
 25. Due Authorization. The
execution of this Agreement has been duly authorized by the Company by all necessary corporate action. 
 [Signatures
appear on the following page.] 

  

					
		  	EMPLOYMENT AGREEMENT: M. BLACK	  	Page 13

 IN WITNESS WHEREOF, this Employment Agreement has been duly executed by or on behalf
of the parties hereto as of the date first above written. 
  

							
	EMPLOYEE	 		 	WASTE CONNECTIONS, INC.
				
	/s/ Matthew Black	 		 	By:	 	/s/ Ronald J. Mittelstaedt
	Matthew Black	 		 		 	Ronald J. Mittelstaedt,
		 		 		 	Chief Executive Officer

 Address: 

  

					
		  	EMPLOYMENT AGREEMENT: M. BLACK	  	Page S-1

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