SEC Contract Filing

Filing Date: 2024-04-22

Document Content:
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<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>exhibit10-1.htm
<DESCRIPTION>EXHIBIT 10.1
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 <title>Energy Fuels Inc.: Exhibit 10.1 - Filed by newsfilecorp.com</title>
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 <p style="text-align: center;"><b>AMENDED AND RESTATED EMPLOYMENT AGREEMENT</b></p>
 <p style="text-indent: 36pt; text-align: justify;">THIS AMENDED AND RESTATED EMPLOYMENT AGREEMENT ("<b>Agreement</b>") is effective as of the 10th day of April 2024 (the "<b>Effective Date</b>"), by and between Energy Fuels Resources (USA) Inc., a Delaware corporation ("<b>EFRI</b>"), Energy Fuels Inc., an Ontario corporation ("<b>EFI</b>") (EFRI and EFI are collectively referred to herein as the "<b>Company</b>") and Mark S. Chalmers ("<b>Employee</b>"). In this Agreement, Employee and the Company are referred to jointly and collectively as the "<b>Parties</b>," and generally and singularly as a "<b>Party</b>."</p>
 <p style="text-indent: 36pt; text-align: justify;">In consideration of the promises and agreements contained in this Agreement, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Company and Employee hereby agree as follows:</p>
 <p style="text-align: center;"><b>ARTICLE 1</b><br><b>EMPLOYMENT, REPORTING AND DUTIES</b></p>
 <p style="text-indent: 36pt; text-align: justify;"><font style="color: red;"><font style="color: #000000;">1.1</font>.</font><font style="width: 21pt; text-indent: 0pt; display: inline-block;">&#160;</font><u>Employment</u>. The Company hereby employs and engages the services of Employee to serve as President and Chief Executive Officer and Employee agrees to diligently and competently serve as and perform the functions of President and Chief Executive Officer for the compensation and benefits stated herein. A copy of Employee's current job description is attached hereto as Exhibit A, and Company and Employee agree and acknowledge that, subject to Section 4.2(b), Company retains the right to reasonably add to, or remove, duties and responsibilities set forth in that job description as business or other operating reasons may arise for changes to occur. It is understood that, as President and Chief Executive Officer, Employee will be appointed an officer of EFI and EFRI under this Agreement, but that Employee's direct employment relationship will be as an employee of EFRI.</p>
 <p style="text-indent: 36pt; text-align: justify;">1.2.<font style="width: 22.5pt; text-indent: 0pt; display: inline-block;">&#160;</font><u>Full-time Service</u>. Excluding any periods of vacation and sick leave to which Employee may be entitled, Employee agrees to devote Employee's full time and energies to the responsibilities with the Company consistent with past practice and shall not, during the Term of this Agreement (defined in Article 3 below), be engaged in any business activity which would interfere with or prevent Employee from carrying out Employee's duties under this Agreement.</p>
 <p style="text-align: center;"><b>ARTICLE 2</b><br><b>COMPENSATION AND RELATED ITEMS</b></p>
 <p style="text-indent: 36pt; text-align: justify;">2.1.<font style="width: 22.5pt; text-indent: 0pt; display: inline-block;">&#160;</font><u>Compensation</u>. As compensation and consideration for the services to be rendered by Employee under this Agreement, the Company agrees to pay Employee and Employee agrees to accept:</p>
 <p style="text-indent: 72pt; text-align: justify;">(a)<font style="width: 22.68pt; text-indent: 0pt; display: inline-block;">&#160;</font><i>Base Salary and Benefits.</i> A base salary ("<b>Base Salary</b>") of $621,456.00 per annum, less applicable withholdings, which shall be paid in accordance with the Company's standard payroll practices. Employee's Base Salary may be increased from time to time (but not decreased, including after any increase, without Employee's written consent), at the discretion of the Company, and after any such change, Employee's new level of Base Salary shall be Employee's Base Salary for purposes of this Agreement until the effective date of any subsequent change. Employee shall also receive benefits such as health insurance, vacation and other benefits consistent with the then applicable Company benefit plans to the same extent as other employees of the Company with similar position or level. Employee understands and agrees that, subject to Sections 2.1(b) and (c) below, the Company's benefit plans may, from time to time, be modified or eliminated at Company's discretion.</p>
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 <p style="text-indent: 72pt; text-align: justify;">(b)<font style="width: 22.01pt; text-indent: 0pt; display: inline-block;">&#160;</font><i>Cash Bonus.</i> A cash bonus opportunity (the "<b>Cash Bonus</b>") during each calendar year with a target (the "<b>Target Cash Bonus</b>") equal to eighty-five percent (85%) (the "<b>Target Cash Bonus Percentage</b>") of Employee's Base Salary for the year in which the cash bonus is paid, such cash bonus to be paid in accordance with the Company's existing Short Term Incentive Plan, as such plan may be amended or replaced from time to time, or the equivalent (the "<b>STIP</b>").&#160; Pursuant to the terms of the STIP, each annual Cash Bonus shall be payable based on the achievement of performance goals and may be higher or lower than the Target Cash Bonus based on achievement of those goals.&#160; For each calendar year during the term of this Agreement, the Board (or the Compensation Committee) of EFI will determine and will establish in writing (i) the applicable STIP performance goals, which shall be reasonably achievable and if achieved would result in payment of the Target Cash Bonus, (ii) the percentage of annual Base Sala