Document:

EX-10.5

 Exhibit 10.5 

CHICAGO BRIDGE & IRON 

2008 LONG-TERM INCENTIVE PLAN 

(As amended and restated effective February 27, 2019) 

ARTICLE 1 

Establishment, Objectives and Duration 

1.1    Establishment of the Plan. McDermott International, Inc., a corporation organized and existing under
the laws of the Republic of Panama (hereinafter referred to as the “Company”), having assumed sponsorship for the Chicago Bridge & Iron 2008 Long-Term Incentive Plan, as amended (the “Prior Plan”), in connection with the
May 10, 2018, closing of the transactions contemplated by that certain Business Combination Agreement among the Company, Chicago Bridge & Iron Company N.V., and certain of their respective subsidiaries, dated as of December 18,
2017 (the “Business Combination”), does hereby amend and restate the Prior Plan (hereinafter referred to as this “Plan”), as set forth in this document. This Plan permits the grant of Nonqualified Stock Options, Incentive Stock
Options, Restricted Stock, Restricted Stock Units, Performance Shares and Performance Units (each as hereinafter defined). This amended and restated Plan is effective as of February 27, 2019 (the “Effective Date”) and shall remain in
effect as provided in Section 1.3 hereof. 
 1.2    Objectives. This Plan is designed to promote the
success and enhance the value of the Company by linking the personal interests of Participants (as hereinafter defined) to those of the Company’s stockholders, and by providing Participants with an incentive for outstanding performance. This
Plan is further intended to provide flexibility to the Company in its ability to motivate, attract and retain the employment and/or services of Participants. 

1.3    Duration. This Plan, as amended and restated, shall commence on the Effective Date, as described in
Section 1.1 hereof, and shall remain in effect, subject to the right of the Board of Directors (as hereinafter defined) to amend or terminate this Plan at any time pursuant to Article 15 hereof, until all Shares (as hereinafter defined)
subject to it shall have been purchased or acquired according to this Plan’s provisions; provided, however, that in no event may an Award (as hereinafter defined) be granted under this Plan on or after May 4, 2026. 

ARTICLE 2 
 Definitions

 As used in this Plan, the following terms shall have the respective meanings set forth below: 

2.1    “Award” means a grant under this Plan of any Nonqualified Stock Option, Incentive Stock
Option, Restricted Stock, Restricted Stock Unit, Performance Share or Performance Unit. 
 2.2    “Award
Agreement” means an agreement entered into by the Company and a Participant, setting forth the terms and provisions applicable to an Award granted under this Plan. 

2.3    “Beneficial Owner” or “Beneficial Ownership” shall have the meaning ascribed to
such term in Rule 13d-3 of the General Rules and Regulations under the Exchange Act. 

2.4    “Board” or “Board of Directors” means the Board of Directors of the Company. 

  
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 2.5    “Change in Control” means the occurrence
or existence of any of the following facts or circumstances after the Effective Date: 
 (a)    any
person (other than a trustee or other fiduciary holding securities under an employee benefit plan of the Company or a corporation or other entity owned, directly or indirectly, by the stockholders of the Company in substantially the same proportions
as their ownership of stock of the Company) is or becomes the Beneficial Owner, directly or indirectly, of securities of the Company representing thirty percent (30%) or more of the combined voting power of the Company’s then outstanding voting
securities; 
 (b)    within any period of two (2) consecutive years (not including any period prior
to the Effective Date), individuals who at the beginning of such period constitute the Board, and any new Directors (other than a Director designated by a Person who has entered into an agreement with the Company to effect any transaction described
in Clause (a), (c), (d) or (e) of this Section 2.6) whose election by the Board or nomination for election by the stockholders of the Company, was approved by a vote of at least two-thirds (2/3) of
the Directors, then still in office who either were Directors at the beginning of the period or whose election or nomination for election was previously so approved, cease for any reason to constitute a majority of the Board; 

(c)    a merger or consolidation of the Company, with any other corporation or other entity has been
consummated, other than a merger or consolidation which results 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 combined voting power of the voting securities of the Company or the surviving entity outstanding immediately after such merger or consolidation; 

(d)    the stockholders of the Company approve a plan of complete liquidation of the Company; 

(e)    the consummation of a sale or disposition by the Company of all or substantially all of the
Company’s assets other than to an entity that is under common control with the Company or to an entity for which at least fifty percent (50%) of the combined voting power of its voting securities outstanding immediately after such sale or
disposition are owned or controlled by the stockholders of the Company immediately prior to such sale or disposition; or 

(f)    within one year following the consummation of a merger or consolidation transaction involving the
Company (whether as a constituent corporation, the acquiror, the direct or indirect parent entity of the acquiror, the entity being acquired, or the direct or indirect parent entity of the entity being acquired), as a result of which the voting
securities of the Company outstanding immediately prior thereto continue to represent more than fifty percent (50%) but less than fifty-five percent (55%) of the combined voting power of the voting securities of the Company or the surviving entity
outstanding immediately after such merger or consolidation (a “Merger of Equals”): (i) individuals who, at the time of the execution and delivery of the definitive agreement pursuant to which such transaction has been consummated by
the parties thereto (a “Definitive Transaction Agreement”) (or, if there are multiple such agreements relating to such Merger of Equals, the first time of execution and delivery by the parties to any such agreement) (the “Execution
Time”), constituted the Board cease, for any reason (excluding death, disability or voluntary resignation but including any such voluntary resignation effected in accordance with any Definitive Transaction Agreement), to constitute a majority
of the Board; or (ii) the individual who, at the Execution Time, served as the Chief Executive Officer of the Company does not, for any reason (excluding as a result of death, disability or voluntary termination but including any such voluntary
termination effected in accordance with any Definitive Transaction Agreement), serve as the Chief Executive Officer of the Company or, if the Company does not continue as a registrant with a class of equity securities registered pursuant to
Section 12(b) of the Exchange Act, as the Chief Executive Officer of a corporation or other entity that is (A) a registrant with a class of equity securities registered pursuant to Section 12(b) of the Exchange Act and (B) the
surviving entity in such Merger of Equals or a direct or indirect parent entity of the surviving entity or the Company following the consummation of such Merger of Equals. 

  
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 However, in no event shall a “Change in Control” be deemed to have occurred with
respect to a Participant if the Participant is part of the purchasing group which consummates a transaction resulting in a Change-in-Control. A Participant shall be
deemed “part of a purchasing group” for purposes of the preceding sentence if the Participant is an equity participant in the purchasing company or group (except for: (i) passive ownership of less than three percent (3%) of the stock
of the purchasing company; or (ii) ownership of equity participation in the purchasing company or group which is otherwise not significant, as determined prior to the Change in Control by a majority of the
non-employee continuing Directors). 
 2.6    “Code”
means the U.S. Internal Revenue Code of 1986, as amended from time to time. 

2.7    “Committee” means the Compensation Committee of the Board, or such other committee of the
Board appointed by the Board to administer this Plan (or the entire Board if so designated by the Board by written resolution), as specified in Article 3 hereof. 

2.8    “Company” means McDermott International, Inc., a corporation organized and existing under
the laws of the Republic of Panama, and, except where the context otherwise indicates, shall include the Company’s Subsidiaries and, except with respect to the definition of “Change in Control” set forth above and the application of
any defined terms used in such definition, any successor to any of such entities as provided in Article 18 hereof. 

2.9    “Consultant” means a natural person who is neither an Employee nor a Director and who
performs services for the Company or a Subsidiary pursuant to a contract, provided that those services are not in connection with the offer or sale of securities in a capital-raising transaction and do not directly or indirectly promote or maintain
a market for the Company’s securities. 
 2.10    “Director” means any individual who is a
member of the Board of Directors; provided, however, that any member of the Board of Directors who is employed by the Company shall be considered an Employee with respect to Awards made under this Plan. 

2.11    “Disability” in the case of an Employee, shall have the meaning ascribed to such term in
the Participant’s governing long-term disability plan and, in the case of a Director or Consultant, shall mean a permanent and total disability within the meaning of Section 22(e)(3) of the Code, as determined by the Committee in good
faith, upon receipt of medical advice that the Committee deems sufficient and competent, from one or more individuals selected by the Committee who are qualified to provide professional medical advice. 

2.12    “Effective Date” shall have the meaning ascribed to such term in Section 1.1 hereof.

 2.13    “Employee” means any person who is employed by the Company. 

2.14    “Exchange Act” means the U.S. Securities Exchange Act of 1934, as amended from time to
time. 
 2.15    “ERISA” means the U.S. Employee Retirement Income Security Act of 1974, as
amended from time to time. 
 2.16    “Fair Market Value” of a Share shall mean, as of a
particular date, (a) if Shares are listed on a national securities exchange, the closing sales price per Share on the consolidated transaction reporting system for the principal national securities exchange on which Shares are listed on that
date, or, if no such sale is so reported on that date, on the last preceding date on which such a sale was so reported, (b) if no Shares are so listed but are traded on an
over-the-counter market, the mean between the closing bid and asked prices for Shares on that date, or, if there are no such quotations available for

  
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that date, on the last preceding date for which such quotations are available, as reported by the OTC Markets Group Inc. (or any similar organization or agency succeeding to its function of
reporting prices), or (c) if no Shares are publicly traded, the most recent value determined by an independent appraiser appointed by the Company for that purpose. 

2.17    “Fiscal Year” means the year commencing January 1 and ending December 31. 

2.18    “Incentive Stock Option” or “ISO” means an Option to purchase Shares granted
under Article 6 hereof and which is designated as an Incentive Stock Option and is intended to meet the requirements of Code Section 422, or any successor provision. 

2.19     “Nonqualified Stock Option” or “NQSO” means an option to purchase Shares
granted under Article 6 hereof and which is not an Incentive Stock Option. 
 2.20    “Option”
means an Incentive Stock Option or a Nonqualified Stock Option. 
 2.21    “Option Price” means
the price at which a Share may be purchased by a Participant pursuant to an Option, as determined by the Committee. 

2.22    “Participant” means an eligible Director, Consultant or Employee who has been selected for
participation in this Plan in accordance with Section 5.2. 
 2.23    “Performance-Based Award”
means an Award that is designed to qualify for the Performance-Based Exception. 

2.24    “Performance-Based Exception” means the performance-based exception from the deductibility
limitations of Code Section 162(m). 
 2.25    “Performance Period” means, with respect to
a Performance-Based Award, the period of time during which the performance goals specified in such Award must be met in order to determine the degree of payout and/or vesting with respect to that Performance-Based Award. 
 2.26    “Performance Share” means
an Award designated as such and granted to an Employee, as described in Article 8 hereof. 

2.27    “Performance Unit” means an Award designated as such and granted to an Employee, as
described in Article 8 hereof. 
 2.28    “Person” shall have the meaning ascribed to such term
in Section 3(a)(9) of the Exchange Act and used in Section 13(d) and 14(d) thereof, including a “group” (as that term is used in Section 13(d)(3) thereof). 

2.29    “Restricted Stock” means an Award designated as such and granted to a Participant pursuant
to Article 7 hereof. 
 2.30    “Restricted Stock Unit” or “RSU” means a contractual
promise to distribute to a Participant one Share or cash equal to the Fair Market Value of one Share, determined in the sole discretion of the Committee, which shall be delivered to the Participant upon satisfaction of the vesting and any other
requirements set forth in the related Award Agreement. 
 2.31    “Shares” means the common
stock, par value $1.00 per share, of the Company. 
 2.32    “Subsidiary” means any corporation,
partnership, joint venture, affiliate or other entity in which the Company has a majority voting interest. 

  
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 2.33     “Vesting Period” means the period
during which an Award granted hereunder is subject to a service or performance-related restriction, as set forth in the related Award Agreement. 

ARTICLE 3 

Administration 

3.1    The Committee. This Plan shall be administered by the Committee. The members of the Committee shall
be appointed from time to time by, and shall serve at the discretion of, the Board of Directors. 

3.2    Authority of the Committee. Except as limited by law or by the Articles of Incorporation or Amended
and Restated By-Laws of the Company (each as amended from time to time), the Committee shall have full and exclusive power and authority to take all actions specifically contemplated by this Plan or that are
necessary or appropriate in connection with the administration hereof and shall also have full and exclusive power and authority to interpret this Plan and to adopt such rules, regulations and guidelines for carrying out this Plan as the Committee
may deem necessary or proper. The Committee shall have full power and sole discretion to: select Directors, Consultants and Employees who shall be granted Awards under this Plan; determine the sizes and types of Awards; determine the time when
Awards are to be granted and any conditions that must be satisfied before an Award is granted; determine the terms and conditions of Awards in a manner consistent with this Plan; determine whether the conditions for earning an Award have been met
and whether a Performance-Based Award will be paid at the end of an applicable performance period; determine the guidelines and/or procedures for the payment or exercise of Awards; and determine whether a Performance-Based Award should qualify,
regardless of its amount, as deductible in its entirety for federal income tax purposes. Notwithstanding Section 4.4, the Committee may, in its sole discretion, accelerate the vesting or exercisability of an Award, eliminate or make less
restrictive any restrictions contained in an Award, waive any restriction or other provision of this Plan or any Award or otherwise amend or modify any Award in any manner that is either (a) not adverse to the Participant to whom such Award was
granted or (b) consented to in writing by such Participant, and (c) consistent with the requirements of Code Section 409A, if applicable. Notwithstanding the foregoing, subject to the provisions of Section 4.3 hereof, the terms
of outstanding Awards may not be amended without the approval of the Company’s stockholders so as to (i) reduce the Option Price of any outstanding Option, (ii) cancel any outstanding Option in exchange for cash or other Awards
(including substitutions and cash buyouts) or for an Option with an Option Price that is less than the Option Price of the original Option, (iii) permit repurchase from Participants, whether for cash or any other consideration, of any
outstanding Options that have an Option Price greater than the then current Fair Market Value of a Share, or (iv) permit the grant of any Option that contains a so-called “reload” feature under
which additional Options or other Awards are granted automatically to the Participant upon exercise of the original Option. The Committee may correct any defect or supply any omission or reconcile any inconsistency in this Plan or in any Award in
the manner and to the extent the Committee deems necessary or desirable to further this Plan’s objectives. Further, the Committee shall make all other determinations that may be necessary or advisable for the administration of this Plan. As
permitted by law and the terms of this Plan, the Committee may delegate its authority as identified herein. 

3.3    Delegation of Authority. To the extent permitted under applicable law, the Board or Committee may
delegate to any committee of the Board (including, for the avoidance of doubt, a single-person committee), to the Chief Executive Officer and to other senior officers of the Company its duties under this Plan pursuant to such conditions or
limitations as the Committee may establish; provided however, the Committee may not delegate any authority to grant Awards to a Director. 

3.4    Decisions Binding. All determinations and decisions made by the Committee pursuant to the provisions
of this Plan and all related orders and resolutions of the Committee shall be final, conclusive and binding on all persons concerned, including the Company, its stockholders, officers, Directors, Employees, Consultants, Participants and their
estates and beneficiaries. 

  
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 ARTICLE 4 

Shares Subject to this Plan 

4.1    Number of Shares Available for Grants of Awards. Subject to adjustment as provided below in this
Section 4.1 and in Section 4.3 hereof, there is reserved for issuance of Awards under this Plan the number of Shares available for grant pursuant to the Prior Plan but which have not yet been made subject to awards granted under the Prior
Plan (the “Maximum Share Limitation”) all of which shall be available for Incentive Stock Options, as well as any other form of Award. Each Award settled in Shares and each Option shall be counted against the Maximum Share Limitation as
one Share. If an Award under this Plan or the Prior Plan expires or is terminated, cancelled or forfeited, the Shares associated with the expired, terminated, cancelled or forfeited Award shall again be available for Awards under this Plan, and the
Maximum Share Limitation shall be increased by the same amount as such Shares were counted against the Maximum Share Limitation under this Plan or its equivalent under the Prior Plan, as applicable. On and after the Effective Date, no additional
grants will be made pursuant to the Prior Plan, and any Awards issued prior to the Effective Date will remain subject to the terms and conditions set forth in the Prior Plan. Shares that are tendered by a Participant or withheld as full or partial
payment of withholding taxes related to the vesting or settlement of an Award other than Options shall become available again for Awards under this Plan. The following Shares shall not become available again for Awards under this Plan: 

(i)    Shares that are tendered by a Participant or withheld (1) as full or partial payment of withholding taxes
related to the exercise or settlement of Options, or (2) as payment for the Option Price of an Option; and 
 (ii)
    Shares repurchased in the open market with the proceeds of the payment of the Option Price of an Option. 
 The
foregoing notwithstanding, subject to applicable stock exchange listing requirements, the Maximum Share Limitation shall not be reduced by (x) Shares issued under Awards granted in assumption, substitution or exchange for previously granted
awards of a company acquired by the Company or, to the extent allowed under applicable law and stock exchange requirements, otherwise a party to a transaction with the Company resulting in an adjustment of shares pursuant to Section 4.3 and
(y) available shares under a stockholder approved plan of an acquired company (as appropriately adjusted to reflect the transaction) and such shares shall be available for Awards under this Plan. The Committee may from time to time adopt and
observe such procedures concerning the counting of Shares against this Plan maximum as it may deem appropriate. 

4.2    Limits on Grants in Any Fiscal Year. The aggregate grant date fair value of Awards to any individual
Director, who is not an Employee on the date of grant, in any one Fiscal Year shall not exceed five hundred thousand dollars ($500,000). The maximum aggregate number of Shares with respect to which Awards may be granted in any fiscal year to any
Participant in the form of Stock Options is 1,000,000; and the maximum aggregate number of Shares with respect to which Awards may be granted in the form of Restricted Stock, Restricted Stock Units, Performance Shares and Performance Units combined
in any fiscal year to any Participant is 500,000. 
 4.3    Adjustments in Authorized Shares. The
existence of outstanding Awards shall not affect in any manner the right or power of the Company or its stockholders to make or authorize any or all adjustments, recapitalizations, reorganizations or other changes in the capital stock of the Company
or its business or any merger or consolidation of the Company, or any issue of bonds, debentures, preferred or prior preference stock (whether or not such issue is prior to, on a parity with or junior to the Shares) or the 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 of any kind, whether or not of a character similar to that of the acts or proceedings enumerated above. 

  
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 If there shall be any change in the Shares of the Company or the capitalization of the
Company through merger, consolidation, reorganization, recapitalization, stock dividend, stock split, reverse stock split, split-up, spin-off, combination of shares,
exchange of shares, dividend in kind or other like change in capital structure or distribution (other than normal cash dividends) to stockholders of the Company, the Committee, in its sole discretion, in order to prevent dilution or enlargement of
Participants’ rights under this Plan, shall adjust, in such manner as it deems equitable, as applicable, the number and kind of Shares that may be granted as Awards under this Plan, the number and kind of Shares subject to outstanding Awards,
the exercise or other price applicable to outstanding Awards, the Awards Limitations, the Fair Market Value of the Shares and other value determinations applicable to outstanding Awards; provided, however, that the number of Shares subject to
any Award shall always be a whole number. In the event of a corporate merger, consolidation, acquisition of property or stock, separation, reorganization or liquidation, the Committee shall be authorized, in its sole discretion, to: (a) grant
or assume Awards by means of substitution of new Awards, as appropriate, for previously granted Awards or to assume previously granted Awards as part of such adjustment; (b) make provision, prior to the transaction, for the acceleration of the
vesting and exercisability of, or lapse of restrictions with respect to, Awards and the termination of Options that remain unexercised at the time of such transaction; (c) provide for the acceleration of the vesting and exercisability of
Options and the cancellation thereof in exchange for such payment as the Committee, in its sole discretion, determines is a reasonable approximation of the value thereof; (d) cancel any Awards and direct the Company to deliver to the
Participants who are the holders of such Awards cash in an amount that the Committee shall determine in its sole discretion is equal to the fair market value of such Awards as of the date of such event, which, in the case of any Option, shall be the
amount equal to the excess of the Fair Market Value of a Share as of such date over the per-share Option Price for such Option (for the avoidance of doubt, if such Option Price is less than such Fair Market
Value, the Option may be canceled for no consideration); or (e) cancel Awards that are Options and give the Participants who are the holders of such Awards notice and opportunity to exercise prior to such cancellation. 

ARTICLE 5 
 Eligibility
and Participation 
 5.1    Eligibility. Persons eligible to participate in this Plan include all
Directors, Employees who are in salary grades 7 and above or the equivalent classification following the completion of the Business Combination, and Consultants, as determined in the sole discretion of the Committee; provided that no individual who
was an employee of McDermott International, Inc. or its subsidiaries immediately prior to the Business Combination is eligible to receive an award under the Plan after such consummation. 

5.2    Actual Participation. Subject to the provisions of this Plan, the Committee may, from time to time,
select from all Directors, Employees and Consultants, those to whom Awards shall be granted and shall determine the nature and amount of each Award. No Director, Employee or Consultant shall have the right to be selected for Participation in this
Plan, or, having been so selected, to be selected to receive a future Award. 
 ARTICLE 6 

Options 

6.1    Grant of Options. Subject to the terms and provisions of this Plan, Options may be granted to
Participants in such number, upon such terms, at any time, and from time to time, as shall be determined by the Committee; provided, however, that ISOs may be awarded only to Employees. Subject to the terms of this Plan, the Committee shall
have discretion in determining the number of Shares subject to Options granted to each Participant. 

  
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 6.2    Option Award Agreement. Each Option grant shall be
evidenced by an Award Agreement that shall specify the Option Price, the duration of the Option, the number of Shares to which the Option pertains, and such other provisions as the Committee shall determine that are not inconsistent with the terms
of this Plan. The Award Agreement also shall specify whether the Option is intended to be an ISO or an NQSO (provided that, in the absence of such specification, the Option shall be an NQSO). 

6.3    Option Price. The Option Price for each grant of an Option under this Plan shall be as determined by
the Committee; provided, however, that, subject to any subsequent adjustment that may be made pursuant to the provisions of Section 4.3 hereof, the Option Price shall be not less than one hundred percent (100%) of the Fair Market Value
of a Share on the date the Option is granted. Except as otherwise provided in Section 4.3 hereof, without prior stockholder approval no repricing of Options awarded under this Plan shall be permitted such that the terms of outstanding Options
may not be amended to reduce the Option Price and further Options may not be replaced or regranted through cancellation, in exchange for cash, other Awards, or if the effect of the replacement or regrant would be to reduce the Option Price of the
Options or would constitute a repricing under generally accepted accounting principles in the United States (as applicable to the Company’s public reporting). No Option may contain a right to dividend equivalents. 

6.4    Duration of Options. Subject to any earlier expiration that may be effected pursuant to the
provisions of Section 4.3 hereof, each Option shall expire at such time as the Committee shall determine at the time of grant; provided, further, that an Option shall not be exercisable later than the seventh (7th) anniversary date of
its grant; provided, however, if the term of an Option (but not an ISO) expires when trading in the Shares is prohibited by applicable law or the Company’s insider trading policy (as then in effect), then the term of such Option shall expire on
the 30th day after the expiration of such prohibition. 
 6.5    Exercise of Options. Options granted
under this Plan shall be exercisable at such times and be subject to such restrictions and conditions as the Committee shall in each instance approve, which need not be the same for each grant or for each Participant. 

6.6    Payment. Any Option granted under this Article 6 shall be exercised by the delivery of a notice of
exercise to the Company or its outside administrator in the manner prescribed by the Committee from time to time in the related Award Agreement, setting forth the number of Shares with respect to which the Option is to be exercised, and either
(i) accompanied by full payment of the Option Price for the Shares issuable on such exercise or (ii) exercised in a manner that is in accordance with applicable law and the “cashless exercise” procedures (if any) approved by the
Committee involving a broker or dealer. 
 The Option Price upon exercise of any Option shall be payable to the Company in full: (a) in
cash; (b) by tendering previously acquired Shares valued at their Fair Market Value per Share at the time of exercise; (c) by a combination of (a) and (b); or (d) any other method approved by the Committee, in its sole
discretion. 
 Subject to any governing rules or regulations, as soon as practicable after receipt of a notification of exercise and full
payment, the Company shall deliver to the Participant, in the Participant’s name, Share certificates in an appropriate amount based upon the number of Shares purchased under the Option, or shall cause Shares to be issued or transferred to the
Participant via book-entry registration. 
 6.7    Restrictions on Share Transferability. The Committee
may impose such restrictions on any Shares acquired pursuant to the exercise of an Option granted under this Plan as it may deem advisable, including, without limitation, restrictions under applicable U.S. federal securities laws, under the
requirements of any stock exchange or market upon which such Shares are then listed and/or traded, and under any blue sky or state securities laws applicable to such Shares. 

6.8    Termination of Employment, Service or Directorship. Each Option Award Agreement shall set forth the
extent to which the Participant shall have the right to exercise the Option following termination of the Participant’s employment, service or directorship with the Company and/or its Subsidiaries. Such provisions shall be determined in the sole
discretion of the Committee, shall be included in each Award Agreement entered into with a Participant with respect to an Option Award, need not be uniform among all Options granted pursuant to this Article 6 and may reflect distinctions based on
the reasons for termination. 

  
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 ARTICLE 7 

Restricted Stock 

7.1    Grant of Restricted Stock. Subject to the terms and provisions of this Plan, the Committee at any
time, and from time to time, may grant Shares as Restricted Stock (“Shares of Restricted Stock”) to Participants in such amounts as the Committee shall determine. 

7.2    Restricted Stock Award Agreement. Each Award of Restricted Stock shall be evidenced by an Award
Agreement that shall specify the Vesting Period, the number of Shares of Restricted Stock granted, and such other provisions as the Committee shall determine. 

7.3    Other Restrictions. The Committee may impose such other conditions and/or restrictions on any Shares
of Restricted Stock granted pursuant to this Plan as it may deem advisable, including, without limitation, a requirement that Participants pay a stipulated purchase price for each Share of Restricted Stock, restrictions based upon the achievement of
specific performance goals, time-based restrictions on vesting following the attainment of the performance goals and/or restrictions under applicable U.S. federal or state securities laws. 

To the extent deemed appropriate by the Committee, the Company may retain any certificates representing Shares of Restricted Stock in the
Company’s possession until such time as all conditions and/or restrictions applicable to such Shares have been satisfied or have lapsed. 

7.4    Removal of Restrictions. Except as otherwise provided in this Article 7, Shares of Restricted Stock
covered by each Restricted Stock Award made under this Plan shall become freely transferable by the Participant after all conditions and restrictions applicable to such Shares have been satisfied or have lapsed. 

7.5    Voting Rights. To the extent permitted by the Committee or required by applicable law, Participants
holding Shares of Restricted Stock granted hereunder may exercise full voting rights with respect to those Shares during the applicable Vesting Period. 

7.6    Dividends. During the applicable Vesting Period, Participants holding Shares of Restricted Stock
granted hereunder shall, unless the Committee otherwise determines, be credited with cash dividends paid with respect to the Shares; provided, however, that such dividends shall be held by the Company and shall be subject to the same Vesting Period
as the Shares of Restricted Stock with respect to which the dividends are paid. 
 7.7    Termination of
Employment, Service or Directorship. Each Restricted Stock Award Agreement shall set forth the extent to which the Participant shall have the right to receive unvested Shares of Restricted Stock following termination of the Participant’s
employment, service or directorship with the Company and/or its Subsidiaries. Such provisions shall be determined in the sole discretion of the Committee, shall be included in each Award Agreement entered into with a Participant with respect to
Shares of Restricted Stock, need not be uniform among all Shares of Restricted Stock granted pursuant to this Article 7 and may reflect distinctions based on the reasons for termination. 

  
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 ARTICLE 8 

Performance Units and Performance Shares 

8.1    Grant of Performance Units/Shares. Subject to the terms of this Plan, Performance Units and
Performance Shares may be granted to Participants in such amounts and upon such terms, and at any time and from time to time, as shall be determined by the Committee. 

8.2    Value of Performance Units/Shares. Each Performance Unit shall have an initial value that is
established by the Committee at the time of grant. Each Performance Share shall represent the right to receive a Share subject to the satisfaction of relevant performance conditions. The Committee shall set performance goals in its discretion that,
depending on the extent to which they are met, will determine the number and/or value of Performance Units/Shares which will be paid out to the Participant. 

8.3    Earning of Performance Units/Shares. Subject to the terms of this Plan, after the applicable
Performance Period has ended, the holder of Performance Units/Shares shall be entitled to receive payment of the number and value of Performance Units/Shares earned by the Participant over the Performance Period, to be determined as a function of
the extent to which the corresponding performance goals have been achieved. 
 8.4    Form and Timing of
Payment of Performance Units/Shares. Subject to the provisions of Article 12 hereof, Payment of earned Performance Units/Shares to a Participant shall be made no later than March 15 following the end of the calendar year in which such
Performance Units/Shares vest, or as soon as administratively practicable thereafter if payment is delayed due to unforeseeable events. Subject to the terms of this Plan, the Committee, in its sole discretion, may pay earned Performance Units/Shares
in the form of cash or in Shares (or in a combination thereof) that have an aggregate Fair Market Value equal to the value of the earned Performance Units/Shares at the close of the applicable Performance Period. Any Shares issued or transferred to
a Participant for this purpose may be granted subject to any restrictions that are deemed appropriate by the Committee. 

8.5    Voting Rights and Dividends. During the applicable Vesting Period, Participants holding Performance
Shares shall not have voting rights with respect to the Shares underlying such Performance Shares. For the avoidance of doubt, a Performance Share shall not convey any rights as a stockholder until Shares are issued and delivered to the Participant.
During the applicable Vesting Period, Participants holding Performance Shares granted hereunder may be credited with dividend equivalents, in the form of cash or additional Performance Shares (as determined by the Committee in its sole discretion),
if a cash dividend is paid with respect to the Shares. The extent to which dividend equivalents shall be credited shall be determined in the sole discretion of the Committee. Such dividend equivalents shall be subject to the same vesting
restrictions and performance restrictions as the Performance Shares with respect to which the dividend equivalents are paid. 

8.6    Termination of Employment, Service or Directorship. Each Award Agreement providing for a Performance
Unit/Share shall set forth the extent to which the Participant shall have the right to receive a payout of cash or Shares with respect to unvested Performance Unit/Shares following termination of the Participant’s employment, service or
directorship with the Company and/or its Subsidiaries. Such provisions shall be determined in the sole discretion of the Committee, shall be included in the Award Agreement entered into with the Participant, need not be uniform among all Awards of
Performance Units/Shares granted pursuant to this Article 8 and may reflect distinctions based on the reasons for termination. 

  
 10 

 ARTICLE 9 

Restricted Stock Units 

9.1    Grant of RSUs. Subject to the terms and provisions of this Plan, the Committee at any time, and from
time to time, may grant RSUs to eligible Participants in such amounts as the Committee shall determine. 

9.2    RSU Award Agreement. Each RSU Award to a Participant shall be evidenced by an RSU Award Agreement
entered into with that Participant, which shall specify the Vesting Period, the number of RSUs granted, and such other provisions as the Committee shall determine in its sole discretion. 

9.3    Form and Timing of Delivery. If a Participant’s RSU Award Agreement provides for payment in
cash, payment equal to the Fair Market Value of the Shares underlying the RSU Award, calculated as of the last day of the applicable Vesting Period, shall be made in a single lump-sum payment. If a
Participant’s RSU Award Agreement provides for payment in Shares, the Shares underlying the RSU Award shall be delivered to the Participant. Such payment of cash or Shares shall be made no later than March 15 following the end of the
calendar year during which the RSU Award vests, or as soon as administratively practicable thereafter if payment is delayed due to unforeseeable events. Such delivered Shares shall be freely transferable by the Participant. 

9.4    Voting Rights and Dividends. During the applicable Vesting Period, Participants holding RSUs shall
not have voting rights with respect to the Shares underlying such RSUs. For the avoidance of doubt, an RSU shall not convey any rights as a stockholder until Shares are issued and delivered to the Participant. During the applicable Vesting Period,
Participants holding RSUs granted hereunder shall, unless the Committee otherwise determines, be credited with dividend equivalents, in the form of cash or additional RSUs (as determined by the Committee in its sole discretion), if a cash dividend
is paid with respect to the Shares. The extent to which dividend equivalents shall be credited shall be determined in the sole discretion of the Committee. Such dividend equivalents shall be subject to a Vesting Period equal to the remaining Vesting
Period of the RSUs with respect to which the dividend equivalents are paid. 
 9.5    Termination of
Employment, Service or Directorship. Each RSU Award Agreement shall set forth the extent to which the applicable Participant shall have the right to receive a payout of cash or Shares with respect to unvested RSUs following termination of the
Participant’s employment, service or directorship with the Company and/or its Subsidiaries. Such provisions shall be determined in the sole discretion of the Committee, shall be included in each Award Agreement entered into with a Participant
with respect to RSUs, need not be uniform among all RSUs granted pursuant to this Article 9 and may reflect distinctions based on the reasons for termination. 

ARTICLE 10 
 Performance
Measures 
 10.1    Performance Measures. The Committee may establish performance-measures for
purposes of grants of Performance Units and Performance Shares. Subject to the terms of this Plan, each of these measures shall be defined by the Committee on a consolidated, group or division basis, on an absolute or relative basis or in comparison
to one or more peer group companies or indices, and may include or exclude specified infrequent and unusual items as defined by the Company’s auditors. 

  
 11 

 10.2    Adjustments. The Committee shall have the sole
discretion to adjust determinations of the degree of attainment of the pre-established performance goals. The Committee shall retain the discretion to adjust such Awards downward. 

ARTICLE 11 

Transferability; Benefits on Death 

Awards under this Plan are not transferable (either voluntarily or involuntarily), before or after Participant’s death, except as
follows: (a) during Participant’s lifetime, pursuant to a domestic relations order, issued by a court of competent jurisdiction, that is not contrary to the terms and conditions of this Plan or the applicable Award Agreement, and in a form
acceptable to the Committee, in its sole discretion; or (b) after Participant’s death, by will or pursuant to the applicable laws of descent and distribution, as may be the case. Any person to whom an Award is transferred in accordance
with the provisions of the preceding sentence shall take such Award subject to all of the terms and conditions of this Plan and the applicable Award Agreement, including that the vesting and termination provisions thereof will continue to be applied
with respect to the Participant. Options are exercisable only by the applicable Participant (or, during the Participant’s lifetime, by the Participant’s court appointed legal representative) or a person to whom the Options have been
transferred in accordance with this Article. The Committee may prescribe and include in applicable Award Agreements other restrictions on transfer. Any attempted assignment that is in violation of this Article 11 shall be null and void. 

ARTICLE 12 
 Deferrals

 The Committee may, in its sole discretion, permit selected Participants to elect to defer payment of some or all types of Awards, or
may provide for the deferral of an Award in an Award Agreement; provided, however, that the timing of any such election and payment of any such deferral shall be specified in the Award Agreement and shall conform to the applicable requirements of
Code Section 409A(a)(2), (3) and (4) and the regulations and rulings issued thereunder. Any deferred payment, whether elected by a Participant or specified in an Award Agreement or by the Committee, may be forfeited if and to the extent
that the applicable Award Agreement so provides. 
 ARTICLE 13 

Rights of Employees, Directors and Consultants 

13.1    Employment or Service. Nothing in this Plan shall interfere with or limit in any way the right of
the Company to terminate any Participant’s employment or service at any time, nor confer upon any Participant any right to continue in the employ or service of the Company. 

13.2    No Contract of Employment. Neither an Award nor any benefits arising under this Plan shall
constitute part of a Participant’s employment contract with the Company or any Subsidiary, and accordingly, subject to the provisions of Article 15 hereof, this Plan and the benefits hereunder may be terminated at any time in the sole and
exclusive discretion of the Board without giving rise to liability on the part of the Company or any Subsidiary for severance payments. 

13.3    Transfers Between Participating Entities. For purposes of this Plan, a transfer of a
Participant’s employment between the Company and a Subsidiary, or between Subsidiaries, shall not be deemed to be a termination of employment. Upon such a transfer, the Committee may make such adjustments to outstanding Awards as it deems
appropriate to reflect the change in reporting relationships. 

  
 12 

 ARTICLE 14 

Change in Control 

Notwithstanding Section 4.4 or any other provision of this Plan to the contrary, the provisions of this Article 14 shall apply in
the event of a Change in Control, unless otherwise provided in the applicable Award Agreement, or as provided in an individual severance or employment agreement to which a Participant is a party. 

14.1    Assumption of Awards. Upon a Change in Control, each then-outstanding Award may be adjusted or
substituted in accordance with Section 4.3 (subject to the limitations set forth therein) with an award that meets the criteria set forth in this Section 14.1 (each, a “Replacement Award,” and each adjusted or substituted Award,
a “Replaced Award”). An adjusted or substituted Award meets the conditions of this Section 14.1 (and hence qualifies as a Replacement Award) if (a) it is of the same type (e.g., stock option for Option, restricted stock for
Restricted Stock, restricted stock unit for Restricted Stock Unit, etc.) as the Replaced Award, (b) it has a value at least equal to the value of the Replaced Award, (c) it relates to publicly traded equity securities of the Company or its
successor in the Change in Control or another entity that is affiliated with the Company or its successor following the Change in Control, (d) if the Participant holding the Replaced Award is subject to U.S. federal income tax under the Code,
the tax consequences to such Participant under the Code of the Replacement Award are not less favorable to such Participant than the tax consequences of the Replaced Award, and (e) its other terms and conditions are not less favorable to the
Participant holding the Replacement Award than the terms and conditions of the Replaced Award (including the provisions that would apply in the event of a subsequent Change in Control). Without limiting the generality of the foregoing, the
Replacement Award may take the form of a continuation of the Replaced Award if the requirements of the preceding sentence are satisfied. The determination of whether the conditions of this Section 14.1 are satisfied will be made by the
Committee, as constituted immediately before the Change in Control, in its sole discretion. Without limiting the generality of the foregoing, the Committee may determine the value of Awards and Replacement Awards that are stock options by reference
to either their intrinsic value or their fair value. 
 14.2    Failure to Assume Awards. In the event
that a Participant does not receive a Replacement Award that meets the conditions set forth in Section 14.1 with respect to any of his or her outstanding Awards upon a Change in Control, each such outstanding Award will become fully vested and
exercisable (as applicable) and any restrictions applicable to such Award will lapse, with any applicable performance goals deemed to have been achieved at the greater of target level as of the date of such vesting or the actual performance level
had the performance period ended on the date of the Change in Control. For the avoidance of doubt, if all Awards hereunder are terminated without any Replacement Awards, then the Company or its successor in the Change in Control may terminate all
Awards whose exercise price is less than or equal to the value per Share realized in connection with the Change in Control (without any consideration therefor). 

14.3    Termination Following Change in Control. If a Participant terminates his or her employment for good
reason, the Participant is involuntarily terminated for reasons other than for cause, or the Participant’s employment terminates due to the Participant’s death or Disability during the three-year period commencing on the date of a Change
in Control, then (A) all Replacement Awards held by the Participant will become fully vested and, if applicable, exercisable and free of restrictions (with any applicable performance goals deemed to have been achieved at the greater of target
level or actual performance through the date of such Change in Control), and (B) all Options held by the Participant immediately before such termination of employment that the Participant also held as of the date of the Change in Control or
that constitute Replacement Awards will remain exercisable for not less than three years following such termination of employment or until the expiration of the stated term of such Option, whichever period is shorter (provided, however, that if the
applicable Award Agreement provides for a longer period of exercisability, that provision will control). 

  
 13 

 ARTICLE 15 

Amendment, Modification and Termination 

15.1    Amendment, Modification, and Termination. The Board may at any time and from time to time, alter,
amend, suspend or terminate this Plan in whole or in part, provided, however, that stockholder approval shall be required for any amendment that materially alters the terms of this Plan or is otherwise required by applicable legal
requirements. No amendment or alteration that would adversely affect the rights of any Participant under any Award previously granted to such Participant shall be made without the consent of such Participant. 

15.2    Adjustment of Awards Upon the Occurrence of Certain Unusual or Nonrecurring Events. The Committee
may make adjustments in the terms and conditions of, and the criteria included in, Awards in recognition of unusual or nonrecurring events (including, without limitation, the events described in Section 4.3 hereof) affecting the Company or the
financial statements of the Company or in recognition of changes in applicable laws, regulations or accounting principles, whenever the Committee determines that such adjustments are appropriate in order to prevent unintended dilution or enlargement
of the benefits or potential benefits intended to be made available under this Plan. 
 ARTICLE 16 

Withholding 
 The Company
shall have the right to deduct applicable taxes from any Award payment and withhold, at the time of delivery or vesting of cash or Shares under this Plan, or at the time applicable law otherwise requires, an appropriate amount of cash or number of
Shares or a combination thereof for payment of taxes required by law or to take such other action as may be necessary in the opinion of the Company to satisfy all obligations for withholding of such taxes. The Committee may permit withholding to be
satisfied by the transfer to the Company of Shares theretofore owned by the holder of the Award with respect to which withholding is required. If Shares are used to satisfy tax withholding, such Shares shall be valued at their Fair Market Value on
the date when the tax withholding is required to be made. 
 ARTICLE 17 

Indemnification 
 Each
person who is or shall have been a member of the Committee, or of the Board, or an officer of the Company to whom the Committee has delegated authority in accordance with Article 3 hereof, shall be indemnified and held harmless by the Company
against and from: (a) any loss, cost, liability, or expense that may be imposed upon or reasonably incurred by him or her in connection with or resulting from any claim, action, suit or proceeding to which he or she may be a party or in which
he or she may be involved by reason of any action taken or failure to act under this Plan, except for any such action or failure to act that constitutes willful misconduct on the part of such person or as to which any applicable statute prohibits
the Company from providing indemnification; and (b) any and all amounts paid by him or her in settlement of any claim, action, suit or proceeding as to which indemnification is provided pursuant to clause (a) of this sentence, with the
Company’s approval, or paid by him or her in satisfaction of any judgment or award in any such action, suit or proceeding against him or her, provided he or she shall give the Company an opportunity, at its own expense, to handle and defend the
same before he or she undertakes to handle and defend it on his or her own behalf. 
 The foregoing right of indemnification shall be in
addition to any other rights of indemnification to which such persons may be entitled under the Company’s Amended and Restated Articles of Incorporation or Amended and Restated By-Laws (each, as amended
from time to time), as a matter of law, or otherwise. 

  
 14 

 ARTICLE 18 

Successors 
 All
obligations of the Company under this Plan with respect to Awards granted hereunder shall be binding on any successor to the Company, whether the existence of such successor is the direct or indirect result of a merger, consolidation, purchase of
all or substantially all of the business and/or assets of the Company or other transaction. 
 ARTICLE 19 

General Provisions 

19.1    Restrictions and Legends. No Shares or other form of payment shall be issued or transferred with
respect to any Award unless the Company shall be satisfied that such issuance or transfer will be in compliance with applicable U.S. federal and state securities laws. The Committee may require each person receiving Shares pursuant to an Award under
this Plan to represent to and agree with the Company in writing that the Participant is acquiring the Shares for investment without a view to distribution thereof. Any certificates evidencing Shares delivered under this Plan (to the extent that such
Shares are so evidenced) may be subject to such stop-transfer orders and other restrictions as the Committee may deem advisable under the rules, regulations and other requirements of the U.S. Securities and
Exchange Commission, any securities exchange or transaction reporting system upon which the Shares are then listed or to which they are admitted for quotation and any applicable U.S. federal or state securities law. In addition to any other legend
required by this Plan, any certificates for such Shares may include any legend that the Committee deems appropriate to reflect any restrictions on transfer of such Shares. 

19.2    Gender and Number. Except where otherwise indicated by the context, any masculine term used herein
also shall include the feminine, the plural shall include the singular and the singular shall include the plural. 

19.3    Severability. If any provision of this Plan shall be held illegal or invalid for any reason, the
illegality or invalidity shall not affect the remaining parts of this Plan, and this Plan shall be construed and enforced as if the illegal or invalid provision had not been included. 

19.4    Requirements of Law. The granting of Awards and the issuance of Shares under this Plan 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. 

19.5    Uncertificated Shares. To the extent that this Plan provides for issuance of certificates to reflect
the transfer of Shares, the transfer of such Shares may be effected on a noncertificated basis, to the extent not prohibited by applicable law or the rules of any stock exchange or transaction reporting system on which the Shares are listed or to
which the Shares are admitted for quotation. 
 19.6    Clawback Policy. Notwithstanding any other
provisions in this Plan, any Award shall be subject to recovery or clawback by the Company under any clawback policy adopted by the Company in accordance with applicable law, as amended or superseded from time to time. 

19.7    Unfunded Plan. Insofar as this Plan provides for Awards of cash, Shares or rights thereto, it will
be unfunded. Although the Company may establish bookkeeping accounts with respect to Participants who are entitled to cash, Shares or rights thereto under this Plan, it will use any such accounts merely as a bookkeeping convenience. Participants
shall have no right, title or interest whatsoever in or to any investments that the Company may make to aid it in meeting its obligations under this Plan. Nothing contained in this Plan, and no action taken pursuant to its provisions, shall create
or be construed to create a trust of any kind, or a fiduciary relationship between the Company and any 

  
 15 

 
Participant, beneficiary, legal representative or any other person. To the extent that any person acquires a right to receive payments from the Company under this Plan, such right shall be no
greater than the right of an unsecured general creditor of the Company. All payments to be made hereunder shall be paid from the general funds of the Company and no special or separate fund shall be established and no segregation of assets shall be
made to assure payment of such amounts, except as expressly set forth in this Plan. This Plan is not intended to be subject to ERISA. 

19.8    No Fractional Shares. No fractional Shares shall be issued or delivered pursuant to this Plan or any
Award. The Committee shall determine whether cash, Awards or other property shall be delivered or paid in lieu of fractional Shares or whether such fractional Shares or any rights thereto shall be forfeited or otherwise eliminated. 

19.9    Governing Law. This Plan and all determinations made and actions taken pursuant hereto, to the
extent not otherwise governed by mandatory provisions of the Code or the securities laws of the United States, will be governed by and construed in accordance with the laws of the State of Texas, without giving effect to any conflicts of laws
provisions thereof that would result in the application of the laws of any other jurisdiction. 

  
 16Exhibit

PERSONAL & CONFIDENTIAL
December 7, 2018 
Brian Leen
1460 W. Canal Court #100
Littleton, CO 80120
Notice of Layoff 
Advanced Emissions Solutions, Inc.
Dear Brian:
We regret to inform you that your position is being eliminated, effective December 7, 2018 (the "Separation Date"). Please review the information in this Notice of layoff (the "Notice") and the Release of Claims and Separation Agreement (the "Release") (the Notice and the Release are, collectively, the "Agreement"), as well as the packet of information provided to you.
Subject to the definitions, payment schedules, and terms and conditions in the attached Release, the Company is offering you the following Severance Compensation (subject to applicable taxes and withholdings), which will become effective as of the Effective Date:
		
	•
	"Separation Pay" equal to 52 weeks' Base Salary in the amount of $ 494,537, plus $321,687, equal to your Bonus Target level of $494,537, less the anticipated amount of Board Fees scheduled to be received by you in the course of 2019 (comprised of the $147,850 ADES director retainer plus a $25,000 special committee fee).

		
	•
	If you elect to continue your health insurance coverage under COBRA, the Company will pay the premiums for the first six (6) calendar months of medical, dental and vision insurance under COBRA.

		
	•
	"Bonus Pay," at your target bonus level for 2018, in the amount of $494,537, which shall be inclusive of the prorated bonus amount payable pursuant to Schedule 6.08 (b) of the Purchase and Sale Agreement (" PSA”).

		
	•
	If eligible, Safe Harbor 401K contribution to be paid in Quarter 1, 2019 according to the Plan's disbursement schedule.

		
	•
	For the avoidance of doubt, nothing in this Agreement shall impact your scheduled payment under the ADA Carbon Solutions, LLC 2016 Retention & Performance Award Plan, as amended effective January 2, 2018 in a certain Amended Participation Certificate (the "2016 Plan”), and you are not required to sign this Agreement in order to receive payment under the 2016 Plan. As set forth in the attached Release, you shall receive a gross payment of $750,000, consistent with the terms of the 2016 Plan.

Separation Pay and Benefits Pay will be paid per the standard bi-weekly payroll process, less required withholdings. Bonus Pay will be paid according to Schedule 6.08(b) of the PSA, less required withholdings.
If you accept the terms of this Agreement, please sign and return one copy of this Notice of Layoff in the at t ached ·self-addressed, stamped envelope within the time period set forth in the Agreement to Human Resources at Advanced Emissions Solutions, 640 Plaza Dr., Suite 270, Highlands Ranch, CO 80129.
Should you have any questions, please contact Ted Sanders at 720-598 -3537 or t ed.sanders@adaes.com.

PLEASE REVIEW CAREFULLY BEFORE SIGNING:
I have carefully read all aspects of this Notice of Layoff and the attached Release of Claims and Separation Agreement, and I execute it voluntarily, fully understanding and accepting all provisions of this Agreement in its entirety and without reservation after having had sufficient time and opportunity to consult with my legal advisors prior to executing this Agreement. I understand that in agreeing to this document, any and all claims I may have against the COMPANY are being waived and released.
I have been advised to consult with an attorney prior to executing this Agreement. In agreeing to sign this Agreement I have not relied on any statements or explanation made by the COMPANY.
I have had at least forty-five (45) calendar days to consider this Agreement and if I choose to sign this Agreement before the end of that period, it was my personal, voluntary decision to do so.
I understand that I may revoke and cancel the Agreement within seven (7) days after signing it by serving written notice upon COMPANY in accordance with this Agreement.
I understand that if I do not return this Agreement signed by me to the COMPANY upon the expiration of the forty-five day period, this offer will expire.

Sincerely,
Human Resources

	
					
	EMPLOYEE
	 
	COMPANY

	 
	 
	 
	 
	 

	/s/ Brian Leen
	 
	Advanced Emissions Solutions, Inc. and affiliated companies

	[name]
	 
	 

	 
	 
	 
	By:
	/s/ L. Heath Sampson

	 
	 
	 
	L. Heath Sampson, authorized signatory

	Date:
	12-17-18
	 
	 
	 

	 
	 
	 
	 
	 

	 
	 
	 
	Date:
	December 7, 2018

	 
	 
	 
	 
	 

Disclosure Pursuant to the Older Workers Benefit Protection Act

As indicated in Section D of the attached Release of Claims and Separation Agreement, Employee has been selected for termination of employment due to a change in control of ACS, pursuant to the "PSA", and a resulting realignment and reorganization of COMPANY leadership . All officers of COMPANY and its affiliate ACS were eligible for selection in the program . All employees that have been selected for termination of employment have been or are being offered post-termination severance. A list of those individuals who were considered and selected for termination of employment is as follows :
	
			
	Title
	Age
	Selected for Termination

	CEO (COMPANY)
	47
	 

	CFO (COMPANY)
	36
	 

	General Counsel (COMPANY)
	41
	 

	CEO (ACS)
	50
	X

	CFO (ACS)
	57
	X

	COO (ACS)
	56
	X

	General Counsel (ACS)
	50
	X

RELEASE OF CLAIMS AND SEPARATION AGREEMENT

The following Release of Claims and Separation Agreement, as referred to in the Notice of Layoff (collectively the Notice of Layoff and this Release of Claims and Separation Agreement shall be referred to as the "Agreement"), is made by and between the  Employee  Identified in the Notice of Layoff (referred to as "Employee" "you" "your" "I" or "me") and Advanced Emissions Solutions, Inc. and its affiliated companies (including but not limited to, ADA-ES, Inc., Advanced Clean Energy Solutions, LLC, and ADA Carbon Solutions, LLC ("ACS")), (collectively, "COMPANY"), or herein collectively referred to as the "Parties." You have a period of sixty (60) calendar days after the Separation Date within which to consider the terms of this Agreement. If you accept the terms of this Agreement, you may revoke your acceptance within the following seven (7) days in accordance with Section F of this Agreement. In order to accept this Agreement, you must deliver a signed copy of the Notice of Layoff and this Agreement to Human Resources, ADA-ES, Inc., 640 Plaza Dr., Suite 270, Highlands Ranch, CO 80129 no later than 45 calendar days after your Separation Date.

WHEREAS, Employee' s separation from COMPANY is made in connection with a change in control of ACS, pursuant to a Purchase and Sale Agreement by and among COMPANY, as Purchaser, and Energy Capital Partners I, LP, Energy Capital Partners I-A, LP, Energy Capital Partners 1-B IP, LP, Energy Capital Partners I (Crowfoot IP), LP, and Carbon Solutions Management LLC, as Sellers (the "PSA"'), and a resulting realignment and reorganization of COMPANY leadership.

WHEREAS, Your separation of employment with the COMPANY is effective on the Separation Date; and

WHEREAS, COMPANY has offered a generous and reasonable separation package to Employee, in satisfaction of any contractual rights to severance payment that Employee might have under the Employment Terms letter agreement dated July 18, 2010 (the "Employment Agreement"),  and in  satisfaction of  any of  COMPAN'Ys obligations to Employee under the  PSA, which benefits Employee would not be entitled to without execution of this Agreement, and which Employee has full y, knowingly, and without coercion accepted in exchange for waiver and release of all past and present claims that Employee may have against COMPANY through Employee ' s signature, execution, and return of this Agreement; and

NOW, THEREFORE, in consideration of the mutual promises, agreements, and covenants detailed below, the receipt and sufficiency of which are hereby acknowledged, the parties agree, understand, and consent to their obligations to the following:

AGREEMENT

In consideration of the mutual promises and agreements set forth herein, and for other good and valuable consideration, the receipt and sufficient of which are hereby acknowledged, the Parties, intending to be legally bound, agree as follows:

Definitions:

		
	1.
	The "Effective Date" is the eighth day after the date you return a signed copy of this Agreement to COMPANY. You cannot sign this agreement before the Separation Date.

		
	2.
	The "Separation Date" is the date stated in the Notice of Layoff and is the date your separation from employment with COMPANY becomes effective.

		
	3.
	The "Severance Compensation" is, collectively, the compensation set forth in the Notice of Layoff and Section B below, and is independent of and separate from the payment of earned wages. Without limitation, Severance Compensation includes the following:

		
	a.
	As "Separation Pay," the sum stated on the Notice of Layoff payable on the schedule set forth in Section B of this Agreement, which shall comprise salary continuation for a fixed number of months plus any bonus component payable under Employee's Severance Agreement.

		
	b.
	As "Benefits Pay," the sum stated on the Notice of Layoff payable on the schedule set forth in Section B of this Agreement, paid in lieu of any medical, dental, or vision coverage you have currently elected (the "Benefits”), if any. The Benefits Pay is equivalent to a fixed number of months of payment of your elected Benefits at Consolidated Omnibus Budget Reconciliation Act (COBRA) rates (the "Benefits Period”), if any.

		
	c.
	As "Bonus Pay," your target 2018 bonus, which shall satisfy and meet or exceed any obligation of the COMPANY to make a prorated bonus payment under Section 6.08(b) of the PSA.

Section A - Employee Representations

		
	1.
	You represent that all property belonging to the COMPANY, or any of its respective clients or prospective clients, that was obtained by you as a result of your employment has been returned, unless otherwise agreed by you and COMPANY in writing. Property as used in this provision includes, but is not limited to, computers, PDAs, and any confidential or proprietary documents, information or materials.

		
	2.
	Employee specifically represents, warrants, and confirms that Employee:

		
	a.
	has not filed any claims, complaints, or actions of any kind against COMPANY with any court of law, or local, state, or federal government or agency;

		
	b.
	has been properly paid for all hours worked for COMPANY;

		
	c.
	has received all commissions, bonuses, and other compensation due to the Employee; and

d.has not engaged in any unlawful conduct relating to the business of COMPANY.
 Section B - COMPANY'S Consideration
		
	1.
	COMPANY will, in consideration for your releases and promises set forth in this Agreement, pay you the following as Severance Compensation:

		
	a.
	COMPANY will pay you the Separation Pay, as such term is defined in the Notice of Layoff, less all applicable deductions and withholdings required by law. This amount will be paid to you in bi-weekly installments, and will pay out on the COMPANY's regular pay period schedule until you have received the entire Separation Pay. Your Separation Pay, including Benefits Pay as described below, shall begin on the first payroll date following the Separation Date; provided, however, that should you 1) fail 

to timely execute the Agreement, or 2) rescind the Agreement after its execution, the Payments shall immediately cease, you shall have no further right to any Separation Pay, and you shall be liable to reimburse COMPANY for any Separation Pay previously paid to you under this Agreement. Payments will be paid by direct deposit into the account you have designated for payroll deposits. The Separation Pay will also be included in your relevant W-2 gross wages and taxes paid by COMPANY and reflected on the final W-2 issued to you by the COMPANY. You are and shall be solely responsible for any and all federal, state and local taxes that may be owed by you by virtue of the receipt of any portion of the monetary payment provided under this Agreement; and

		
	b.
	COMPANY will pay you, in lieu of medical, dental, and vision benefits, the Benefits Pay in the same bi-weekly manner as the Separation Pay. It is your responsibility to complete all necessary steps to obtain Benefits coverage; and

		
	c.
	COMPANY will pay you the Bonus Pay, your target 2018 individual bonus target, calculated as if your individual multiplier was 100% achievement, paid on the same date that prorated bonuses are paid to other similarly situated employees of ACS under Section 6. 08(b) of the PSA; and

		
	d.
	COMPANY will make a prorated safe harbor contribution on your behalf to the Advanced Emissions Solutions, Inc. Profit Sharing Retirement Plan (the "401k") for the plan year. Safe Harbor funds will not be applied to any Severance Compensation.

		
	e.
	Pursuant to the ADA Carbon Solutions, LLC 2016 Retention & Performance Award Plan, as amended effective January 2, 2018 in a certain Amended Participation Certificate (the "2016 Plan"), which 2016 Plan is incorporated herein by reference, Company hereby agrees you shall be paid a gross payment of $750,000 consistent with the terms of the 2016 Plan.

		
	2.
	COMPANY has not made any representations of any kind to Employee regarding the tax consequences of the separation payment provided in Section B.1 of the Agreement, and Employee agrees that Employee shall be solely responsible for paying any and all taxes due and owing from Employee as a result of the Separation Pay referenced in Section B.1 above. In addition, Employee agrees to fully defend, indemnify and hold harmless COMPANY from the payment of t axes, interest and/or penalties that are required of Employee by any government agency at any time as a result of payments of the separation payment.

		
	3.
	You agree and acknowledge that the Severance Compensation provided under this Waiver and Release are adequate and sufficient and in excess of what you would otherwise be entitled to receive from the COMPANY as a result of termination of your employment.

		
	4.
	COMPANY, by entering this Agreement, does not admit that it is legally obligated to make any payment and denies that it is responsible or legally obligated for any claims or that it has engaged in any improper conduct or wrongdoing.

		
	5.
	Under no circumstances will you be entitled to the Severance Compensation described herein unless you execute and comply with the terms of this Agreement.

		
	6.
	Except as set forth herein, no part of the cash portion of the Severance Compensation will 

be contributed to any employee benefit plan nor will any contribution, matching or otherwise, be made by COMPANY to any employee benefit plan as a consequence of the Severance Compensation.

		
	7.
	From time to time the COMPANY or its affiliates may list job openings for which you are a qualified candidate. You will be eligible to apply for any such job openings provided, however, if you are selected for a job opening and return to employment with COMPANY or any of its affiliates, you will forfeit any remaining Separation Pay and Benefits Pay scheduled but not yet paid under this Agreement.

Section C - Release of COMPANY and Covenant Not To Sue

		
	1.
	In consideration for the payments set out in Section B above, you, including for all purposes   your heirs, executors, administrators and assigns, hereby forever, unequivocally and unconditionally release and discharge COMPANY, including for all purposes, its past and present officers, directors, managers, employees, affiliates, members, subsidiaries, agents, predecessors, successors and assigns (the "Released Parties"), from and against any and all claims, liabilities, demands, expenses, costs, causes of action or any other obligation to Employee arising out of or in respect to related to Employee's employment with COMPANY from the beginning of time through the Effective Date, including but not limited to: (i) any claims arising under any Federal, or state or local laws in Colorado; (ii) any monetary claims arising under any anti­ discrimination statute including, but not limited to, the Title VII of the Civil Rights Act of 1964, Equal Pay Act of 1963, Age Discrimination in Employment Act of 1967, Rehabilitation Act of 1973, Sections 501 and 505, Titles I and V of the Americans with Disabilities Act of 1990 and Civil Rights Act of 1991, the Americans with Disabilities Act Amendments Act of 2008, the Colorado Anti-Discrimination Act, and any amendments of all aforementioned laws; (iii) claims for nonpayment of wages or any other compensation, including but not limited to monetary claims arising under the Colorado Wage Act; (iv) claims arising under the Older Workers' Benefits Protections Act of 1990, the Family Medical Leave Act of 1993 and subsequent amendments and the Employee Retirement Income Security Act; (v) claims alleging Tort and Breach of Contract under federal and Colorado laws; (vi) claims under the common laws of Colorado; (vii) claims under any compensation or benefit plan of the COMPANY, including but not limited to claims under any Organization benefit program, incentive, stock, deferred compensation or bonus plans, sick leave, personal leave and vacation pay, and which arose on or before the Effective Date, except that this Agreement shall not waive, release, modify or impair your rights with respect to the Limited Liability Company Agreement of Carbon Solutions Management, LLC (the "CSM LLC Agreement"), if any; (viii) any claims for attorney’s fees or costs; and (ix) C.R.S.  § 24-34-402.5.  If any claim is not subject to release, to the extent permitted by law, you waive any right or ability to be a class or collective action representative or to otherwise participate in any putative or certified class, collective or multi-party action or proceeding based on such a claim in which the COMPANY is a party.

		
	2.
	Employee understands that the Agreement represents a full and final settlement and release of all claims arising out of Employee's employment with COMPANY. Employee agrees not to sue, whether alone or with others, any of the Released Parties on any claim released by the Agreement and that, to the extent permitted by law, Employee will refrain from participating in any action, whether administrative, legal or arbitral or seeking individualized relief against any of the Released Parties. Employee agrees to withdraw any claim for individualized relief that Employee may have already filed. Employee warrants that as of the Effective Date, Employee has not filed any charge or claim seeking individualized relief or participated directly or indirectly in any action filed against any Released Parties.

		
	3.
	Employee understands and agrees that entry into the Agreement is not and shall not be construed as an admission of liability by COMPANY and Released Parties or an admission that its acts, verbal or written statements, practices or policies violated any federal or state statute, common law duty, constitutional or administrative rule or regulation.

		
	4.
	Nothing in the Agreement shall: (1) impose any condition, penalty, or other limitation affecting Employee's right to challenge the release contained herein; (2) unlawfully release Employee's rights under applicable laws; (3) release claims that arise after the Agreement is signed; (4) release Employee's right to file an administrative charge with any state, or federal administrative agency, although Employee's does waive and release Employee's right to recover any individualized relief under such applicable law including without limitation compensatory damages, punitive damages, liquidated damages, or attorneys' fees and costs; (5) prevent or interfere with Employee's ability or right to provide truthful testimony, if under subpoena or court order to do so, or respond as otherwise required by law; or (6) prohibit Employee from reporting possible violations of federal law or regulation to any governmental agency or entity, or making other disclosures that are protected under the whistleblower provisions of federal law or regulation.

		
	5.
	Employee agrees to cooperate with COMPANY, upon request, to effectuate a seamless transition of Employee's COMPANY responsibilities.

Section D - Disclosure Pursuant to the Older Workers Benefit Protection Act

		
	1.
	Employee has been selected for termination of employment due to a change in control of ACS, pursuant to the "PSA", and a resulting realignment and reorganization of COMPANY leadership. All officers of COMPANY and its affiliate ACS were eligible for selection in the program. All employees that have been selected for termination of employment have been or are being offered post-termination severance. A list of those individuals who were considered and selected for termination of employment can be found in the Notice of Termination.

		
	2.
	You acknowledge that you were advised to consult with an attorney of your own choosing about this Agreement before signing it. You acknowledge that through your signature below that you have carefully read the foregoing, had sufficient opportunity to deliberate on the same with counsel of your own choosing, know and understand its contents, and sign the same as your free and independent act. You acknowledge that no inducements, representations, or agreements have been made or relied upon to make the Agreement except as stated in the Agreement. Any costs or fees for consultation with private attorneys are the responsibility of the Employee.

		
	3.
	Employee has been given a period of sixty (60) days within which to consider the terms of this Agreement (the "Review Period"), which is inclusive of the forty-five (45) calendar day period to which Employee is entitled to consider this

Agreement pursuant to the Age Discrimination in Employment Act ("ADEA”) and the Older Workers Benefit Protection Act (" OWBPA"). Employee may accept the Agreement at any time within those sixty days. If Employee chooses to execute the Agreement prior to the expiration of the sixty day consideration period, such decision will constitute a waiver of the Employee's right to further consider this Agreement within the sixty day period. The offer contained in this Agreement shall expire immediately after the Review Period.

		
	4.
	This Agreement cannot be signed until the Separation Date. After acceptance of this Agreement, Employee has seven (7) days in which to rescind Employee's acceptance of the Agreement (the "Revocation Period"). To revoke acceptance of this Agreement, Employee must deliver a written statement of revocation to Human Resources, ADA- ES, Inc., 640 Plaza Dr., Suite 270, Highlands Ranch, CO 80129, that is received before the close of business on the seventh day after you sign the Agreement.  At the expiration of the Revocation Period, if COMPANY has not received written notice from Employee of Employee's revocation, the entire Agreement shall become binding and irrevocable. The Release shall become effective at the expiration of the Revocation Period.    In the event Employee revokes the Agreement during the Revocation Period, Employee shall return all copies of this executed Agreement, and the Agreement shall become null and void and shall not serve as evidence for any purpose. Employee further acknowledges that any Severance Pay, Benefits Pay and Bonus amounts to which Employee is not otherwise entitled will cease immediately should Employee 1) fail to timely sign this Agreement, or 2) sign and later rescind this Agreement, and Employee shall thereafter be liable to repay any amounts paid to Employee under this Agreement.

		
	5.
	Through this Waiver and Release, Employee is knowingly and voluntarily waiving, releasing and discharging any and all claims of any kind that you have or may have against COMPANY arising under the Age Discrimination in Employment Act of 1967 (as amended). Employee is not waiving any rights or claims that may arise after the date this Agreement becomes effective.

		
	6.
	The group of individuals covered by the termination program includes all employees in the COMPANY whose employment is being terminated in the realignment and restructuring during the period from December 2018 - March 2019. All employees in the COMPANY whose employment is being terminated are eligible for the program.

		
	7.
	Employee and COMPANY agree that the consideration outlined in Section B of the Agreement will be paid according to the schedule provided in Section B.

Section E - Survival of Restrictive Covenants and Confidentiality Agreements

		
	1.
	You acknowledge that you are party to an Employment Agreement with COMPANY, a copy of which has been provided herewith, in which you have assumed Continuing Obligations under the Employment Agreement. Specifically, your Employment Agreement creates Restrictive Covenants that will continue to bind you post­ employment.

		
	2.
	You acknowledge that during your employment, you were a party to the Limited Liability Company Agreement of Carbon Solutions Management, LLC (the "CSM LLC Agreement"), a copy of which has been provided herewith, in which you have assumed Continuing Obligations under the CSM LLC Agreement. Specifically, the CSM LLC Agreement creates Restrictive Covenants that will continue to bind you post-employment and after the termination of the CSM LLC Agreement.

		
	3.
	Nothing herein shall be deemed to affect any post-employment obligations you may have pursuant to the Employment Agreement or the CSM LLC Agreement, including, but not limited to, those provisions identified herein. You acknowledge that from time to time you may have transferred employment between COMPANY and one or more of its affiliates, and that your Continuing Obligations apply to all work performed for COMPANY or any of its affiliates.

		
	4.
	You acknowledge that by reason of your position with the COMPANY you have been given access to confidential, proprietary or private materials or information with respect to the COMPANY and its affairs. You acknowledge that you have obligations to maintain the confidentiality of this information, including but not limited to under ACS's standard Confidentiality Agreement, a copy of which has been provided herewith, which you agree and acknowledge that you signed in connection with your employment. You represent that you have held all such information confidential and will continue to do so, and that you will not use such information without the prior written consent of the COMPANY.

		
	5.
	Notice of Immunity from Liability. Employee shall not be held criminally or civilly liable under any federal or state trade secret law for the disclosure of a trade secret that is made in confidence to a federal, state or local government, or to an attorney, and is made solely for the purpose of reporting or investigating a suspected violation of law. The same immunity will be provided for the disclosure of a trade secret that 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 reporting a suspected violation of law may disclose the trade secret to the individual's attorney and use the trade secret information in the court proceeding if the individual files any document containing the trade secret under seal and does not disclose the trade secret, except pursuant to court order.

Section F - Representation as to Medicare

		
	1.
	Employee represents and warrants that Employee is not enrolled in the Medicare program, and has not been enrolled throughout the time of the Released Matters through the date of the Agreement. Employee represents and warrants that the information provided to the Released Parties for confirmation of Employee's Medicare status,including Employee's name, gender, date of birth and Social Security Number, is complete, accurate and current as of the date of the Agreement. Employee will execute the Agreement and a CMS Form Seeking Medicare Information to confirm Employee's eligibility or non-eligibility attached hereto as Exhibit "A."

		
	2.
	Employee represents and warrants that no Medicaid payments have been made to or on behalf of Employee and that no liens, claims, demands, subrogated interests or causes of action of any nature or character exist or have been asserted arising from or related to any Released Matters. Employee further agrees that Employee, and no Released Parties, shall be responsible for satisfying all such liens, claims, demands, subrogated interests, or causes of action that may exist or have been asserted or that may in the future exist or be asserted.

		
	3.
	Indemnification for Medicare Claims and Medicaid Liens. To the extent that Employee's representations and warranties related to Employee's Medicare status and receipt of medical services and items related to  the Released Matters are inaccurate, not current, or misleading, Employee agrees to indemnify and hold harmless COMPANY and Released Parties from any and all claims, demands, liens, subrogated interests, and causes of action of any nature or character that have been or may in the future be asserted by Medicare and/or persons or entities acting on behalf of Medicare,  or  any other  person or entity, arising from or related to the Agreement, the payment of the  Settlement Amount, any Conditional Payments made by Medicare, or any medical expenses or payments arising from or related to any Released Matters that is subject to the Agreement, including but not limited to: (a) all  claims  and demands  for reimbursement of Conditional Payments or for damages or double damages based upon any failure to reimburse Medicare for Conditional Payments; (b) all claims and demands for penalties based upon any failure to report, late reporting, or  other  

noncompliance  with  or violation of Section 111 of MMSEA that is based in whole or in part upon late, inaccurate, or inadequate information provided to Released Parties by Employee or upon any failure of Employee to provide information; and (c) all Medicaid liens. The indemnification obligation includes all damages, double damages, fines, penalties, attorney fees, costs, interest, expenses, and judgments incurred by or on behalf of Released Parties in connection with such claims, demands, subrogated interests, or causes of action. Regardless of the accuracy of the representations and warranties made above, Employee agrees to indemnify and hold the Released Parties harmless for taxes on payments made to Employee and any tax consequences related thereto, except those prohibited by law.

Section F - Miscellaneous

		
	1.
	Severability. If a court determines that any provision of this Agreement or portion thereof is invalid or unenforceable, any invalidity or unenforceability will affect only that provision or portion of that provision and shall not make any other provision of this Agreement invalid or unenforceable. Instead, the court shall modify, amend or limit the provision or portion thereof to the extent necessary to render it valid and enforceable.

		
	2.
	Receipt of Agreement. You acknowledge that you received this Agreement on the Separation Date.

		
	3.
	Entire Agreement. Subject to the survival of certain provisions of your Employment Agreement set forth in Section E above, this Agreement represents the entire agreement and understanding between you and COMPANY, your employment with and separation from COMPANY and the events leading thereto and associated therewith and supersedes and replaces any and all prior agreements and understandings concerning your relationship with COMPANY. This Agreement shall not be modified, amended, supplemented, altered, or varied, nor shall any term or condition contained in this Agreement be waived, except by a written instrument signed by the Parties.

		
	4.
	Confidentiality of Agreement. You understand and agree that the terms of, provisions of, and details of the written Agreement, and the nature of discussions resulting in the Agreement (collectively referred herein as "Confidential Information"), are to be strictly held confidential. You agree to keep this Agreement confidential and will not communicate the terms of this Agreement, including the type or amount of severance provided, or the fact that such Agreement exists, to any third party except to your immediate family, accountants, legal or financial advisors, and to COMPANY's officers and employees with a need to know, or as otherwise appropriate or necessary as required by law or court order..

		
	5.
	Cooperation. Employee will cooperate with COMPANY, including its affiliates, in any claims or lawsuits where Employee has knowledge of the facts. Employee further agrees that not to voluntarily aid, assist, or cooperate with anyone who has claims against COMPANY or with their attorneys or agents in any claims or lawsuits that such person may bring. Nothing in this Agreement prevents Employee from testifying at an investigation, regulatory audit, administrative hearing, arbitration, deposition or in court in response to a lawful and properly served subpoena.

		
	6.
	Choice of Law. The parties agree that the laws of the State of Colorado shall govern this Agreement.

		
	7.
	Admissibility. The Parties agree that the Agreement shall not be tendered or admissible as evidence in any proceeding by any Party for any purpose, except that the Agreement may be offered as evidence in a proceeding involving one or more of the Parties in which an alleged breach of the Agreement, the enforcement of the Agreement, or the validity of any term of the Agreement is at issue.

		
	8.
	Enforcement. The Parties understand and agree that if, at any time, a violation of any term of this Agreement is asserted by any party hereto, that party shall have the right to seek performance of that term and/or any other necessary and proper relief including, but not limited to, damages from the applicable state or federal courts located in the State of Colorado and each agree to be subject to and shall submit to the jurisdiction of  such courts for any such action or proceeding. In any such proceeding, the Parties agree that the remaining terms of this Agreement remain in full force and effect, and you further agree not to reinstate any claims otherwise compromised by this Agreement or rely upon the facts which allegedly support such claims.

		
	9.
	Sufficiency of Consideration. Employee acknowledges the adequacy and sufficiency of the consideration for the promises set forth in this Agreement. Employee is estopped from raising and hereby expressly waives any claim regarding receipt and/or legal insufficiency of the consideration provided by COMPANY to Employee under this Agreement.

		
	10.
	Dispute Resolution and Attorney's Fees. If any suit or action is instituted under or in relation to this Agreement, including without limitation to enforce any provision in this Agreement, the parties will submit the matter to be mediated by a professional mediator mutually acceptable to the parties. The mediation and all documentation, hearings, and communications relating thereto will be confidential.   The parties will share equally the costs of the mediator and shall be responsible for their own costs, travel and related expenses associated with the mediation. If a good faith attempt of mediation does not settle the dispute after sixty (60) days, either party may refer the matter to a court of competent jurisdiction located in Denver, Colorado.  The prevailing party in such any litigation shall be entitled to recover from the other party all fees, costs and expenses of enforcing any right of such prevailing party under or with respect to this Agreement, including without limitation, reasonable fees and expenses of attorneys and all fees, costs and expenses of appeals.

		
	11.
	Insider Trading Policy. You acknowledge that you have been provided a copy of COMPANY's insider trading policy. Although the COMPANY policy will no longer apply to you after your Separation Date, you will still be subject to insider trading laws. Trading in ADES Shares, including liquidating your ADES Shares as part of a 401k roll over, could trigger inadvertent consequences. COMPANY encourages you to seek legal advice before taking any such action.

		
	12.
	Binding Agreement. The Agreement shall be binding upon the Parties, their heirs, successors and assigns.

[Rest of Page Intentionally Left Blank]

EXHIBIT "A"
Page 1 of 2

The Centers for Medicare & Medicaid Services (CMS) is the federal agency that oversees the Medicare program. Many Medicare beneficiaries have other insurance in addition to their Medicare benefits. Sometimes, Medicare is supposed to pay after the other insurance. However, if certain other insurance delays payment, Medicare may make a "conditional payment" so as not to inconvenience the beneficiary, and recover after the other insurance pays.

Section 111 of the Medicare, Medicaid and SCHIP Extension Act of 2007 (MMSEA), a new federal law that became effective January 1, 2009, requires that liability insurers (including self­ insurers), no-fault insurers, and workers' compensation plans report specific information about Medicare beneficiaries who have other insurance coverage. The reporting is to assist CMS and other insurance plans to properly coordinate payment of benefits among plans so that your claims are paid promptly and correctly.

	
								
	Section I
Are you presently, or have you ever been, enrolled in Medicare Part A or Part
B?
	 ̈Yes
	x No

	If yes, please complete the following. If no, proceed to Section II.

	Full Name: (Please print the name exactly as it appears on your SSN or Medicare card if available.)

	Medicare Claim Number:
	Date of Birth (Mo/Day/Year)

	Social Security Number:
(If Medicare Claim Number is Unavailable)
	Sex
	□Female
	□Male

Section II

I understand that the information requested is to assist the requesting insurance arrangement to accurately coordinate benefits with Medicare and to meet its mandatory reporting obligations under Medicare law.

	
			
	 
	 
	 

	 
	 
	 

	Claimant Name (Please Print)
	 
	Claim Number

	 
	 
	 

	 
	 
	 

	 

	Name of Person Completing The Form If Claimant is Unable (Please Print)

	 
	 
	 

	 
	 
	 

	 
	 
	 

Page 2 of 2

	
			
	 
	 
	 

	/s/ Brian Leen
	 
	12-17-18

	Signature of Person Completing The Form
	 
	Date

	 
	 
	 

If you have completed Sections I and II above, stop here. If you are refusing to provide the information requested in Sections I and II, proceed to Section Ill

Section Ill

	
			
	 
	 
	 

	 
	 
	 

	Claimant Name (Please Print)
	 
	Claim Number

	 
	 
	 

For the reason(s) listed below, I have not provided the information requested. I understand that if I am a Medicare beneficiary and I do not provide the requested information, I may be violating obligations as a beneficiary to assist Medicare in coordinating benefits to pay my claims correctly and promptly.

	
		
	Reason(s) for Refusal to Provide Requested Information:
	 

	 
	 

	 
	 

	 
	 

	 
	 

	 
	 

	 
	 

	Signature of Person Completing

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