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US Ecology, Inc. – ‘10-Q’ for 3/31/21 – ‘EX-10.2’

On:  Monday, 5/3/21, at 1:37pm ET   ·   For:  3/31/21   ·   Accession #:  1558370-21-5500   ·   File #:  1-39120

Previous ‘10-Q’:  ‘10-Q’ on 11/6/20 for 9/30/20   ·   Next:  ‘10-Q’ on 8/2/21 for 6/30/21   ·   Latest:  ‘10-Q’ on 4/29/22 for 3/31/22   ·   1 Reference:  By:  US Ecology, Inc. – ‘10-K’ on 2/28/22 for 12/31/21

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  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 5/03/21  US Ecology, Inc.                  10-Q        3/31/21   92:10M                                    Toppan Merrill Bridge/FA

Quarterly Report   —   Form 10-Q
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-Q        Quarterly Report                                    HTML   1.23M 
 2: EX-10.1     Material Contract                                   HTML     84K 
 3: EX-10.2     Material Contract                                   HTML     42K 
 4: EX-10.3     Material Contract                                   HTML     43K 
 5: EX-10.4     Material Contract                                   HTML     40K 
 6: EX-15       Letter re: Unaudited Interim Financial Info         HTML     23K 
 7: EX-31.1     Certification -- §302 - SOA'02                      HTML     27K 
 8: EX-31.2     Certification -- §302 - SOA'02                      HTML     27K 
 9: EX-32       Certification -- §906 - SOA'02                      HTML     25K 
16: R1          Document and Entity Information                     HTML     80K 
17: R2          Consolidated Balance Sheets                         HTML    129K 
18: R3          Consolidated Balance Sheets (Parenthetical)         HTML     33K 
19: R4          Consolidated Statements of Operations               HTML     94K 
20: R5          Consolidated Statements of Comprehensive (Loss)     HTML     42K 
                Income                                                           
21: R6          Consolidated Statements of Comprehensive (Loss)     HTML     25K 
                Income (Parenthetical)                                           
22: R7          Consolidated Statements of Cash Flows               HTML    130K 
23: R8          Consolidated Statements of Cash Flows -             HTML     46K 
                (Restricted cash and investments)                                
24: R9          Consolidated Statements of Stockholders' Equity     HTML     64K 
25: R10         General                                             HTML     33K 
26: R11         Revenues                                            HTML    177K 
27: R12         Business Combinations                               HTML     26K 
28: R13         Accumulated Other Comprehensive Loss                HTML     71K 
29: R14         Concentrations and Credit Risk                      HTML     27K 
30: R15         Receivables                                         HTML     40K 
31: R16         Fair Value Measurements                             HTML    126K 
32: R17         Property and Equipment                              HTML     45K 
33: R18         Leases                                              HTML     90K 
34: R19         Goodwill and Intangible Assets                      HTML    140K 
35: R20         Debt                                                HTML     86K 
36: R21         Closure and Post-Closure Obligations                HTML     36K 
37: R22         Income Taxes                                        HTML     31K 
38: R23         Loss Per Share                                      HTML     58K 
39: R24         Equity                                              HTML     86K 
40: R25         Commitments and Contingencies                       HTML     33K 
41: R26         Operating Segments                                  HTML    145K 
42: R27         General (Policies)                                  HTML     39K 
43: R28         Revenues (Tables)                                   HTML    168K 
44: R29         Accumulated Other Comprehensive Loss (Tables)       HTML     70K 
45: R30         Receivables (Tables)                                HTML     39K 
46: R31         Fair Value Measurements (Tables)                    HTML    123K 
47: R32         Property and Equipment (Tables)                     HTML     43K 
48: R33         Leases (Tables)                                     HTML     90K 
49: R34         Goodwill and Intangible Assets (Tables)             HTML    140K 
50: R35         Debt (Tables)                                       HTML     76K 
51: R36         Closure and Post-Closure Obligations (Tables)       HTML     34K 
52: R37         Loss Per Share (Tables)                             HTML     57K 
53: R38         Equity (Tables)                                     HTML     78K 
54: R39         Operating Segments (Tables)                         HTML    135K 
55: R40         Revenues (Details)                                  HTML     72K 
56: R41         Revenues - Treatment and Disposal Revenue           HTML     31K 
                (Details)                                                        
57: R42         REVENUES - Geography (Details)                      HTML     51K 
58: R43         REVENUES - Practical Expedients (Details)           HTML     30K 
59: R44         Business Combinations - 2020 (Details)              HTML     37K 
60: R45         ACCUMULATED OTHER COMPREHENSIVE LOSS - Changes in   HTML     45K 
                AOCI (Details)                                                   
61: R46         ACCUMULATED OTHER COMPREHENSIVE LOSS                HTML     38K 
                -Reclassifications Line Items (Details)                          
62: R47         Receivables (Details)                               HTML     35K 
63: R48         Fair Value Measurements (Details)                   HTML     80K 
64: R49         Fair Value Measurements - Changes in Level 3        HTML     30K 
                liabilities measured at fair value (Details)                     
65: R50         Property and Equipment (Details)                    HTML     48K 
66: R51         Leases (Details)                                    HTML     39K 
67: R52         Leases - Leased assets and liabilities (Details)    HTML     42K 
68: R53         LEASES - Lease cost (Details)                       HTML     32K 
69: R54         LEASES - Supplemental Cash Flow information         HTML     34K 
                (Details)                                                        
70: R55         GOODWILL AND INTANGIBLE ASSETS - Goodwill           HTML     41K 
                (Details)                                                        
71: R56         GOODWILL AND INTANGIBLE ASSETS - Intangible Assets  HTML     79K 
                (Details)                                                        
72: R57         DEBT - Schedule (Details)                           HTML     39K 
73: R58         DEBT - Future Maturities (Details)                  HTML     40K 
74: R59         DEBT - Paragraph (Details)                          HTML    102K 
75: R60         DEBT - Loan Interest Margin (Details)               HTML     74K 
76: R61         DEBT - Leverage Ratio (Details)                     HTML     30K 
77: R62         CLOSURE AND POST-CLOSURE OBLIGATIONS - Rollforward  HTML     39K 
                (Details)                                                        
78: R63         Income Taxes (Details)                              HTML     37K 
79: R64         Loss Per Share (Details)                            HTML     56K 
80: R65         EQUITY - Omnibus Incentive Plan (Details)           HTML     31K 
81: R66         EQUITY - PSUs, Restricted Stock and RSU (Details)   HTML     61K 
82: R67         EQUITY - Stock Options (Details)                    HTML     40K 
83: R68         EQUITY - Treasury Stock (Details)                   HTML     32K 
84: R69         EQUITY - Warrants (Details)                         HTML     37K 
85: R70         COMMITMENTS AND CONTINGENCIES - Litigation and      HTML     30K 
                Regulatory Proceedings (Details)                                 
86: R71         OPERATING SEGMENTS - Summarized Financial           HTML     54K 
                Information (Details)                                            
87: R72         OPERATING SEGMENTS - Reconciliation of EBITDA       HTML     71K 
                (Details)                                                        
88: R73         OPERATING SEGMENTS - Revenue and Long-lived Assets  HTML     33K 
                (Details)                                                        
90: XML         IDEA XML File -- Filing Summary                      XML    158K 
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11: EX-101.CAL  XBRL Calculations -- ecol-20210331_cal               XML    208K 
12: EX-101.DEF  XBRL Definitions -- ecol-20210331_def                XML    568K 
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91: JSON        XBRL Instance as JSON Data -- MetaLinks              399±   579K 
92: ZIP         XBRL Zipped Folder -- 0001558370-21-005500-xbrl      Zip    294K 


‘EX-10.2’   —   Material Contract


This Exhibit is an HTML Document rendered as filed.  [ Alternative Formats ]



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Exhibit 10.2

US ECOLOGY, INC.

RESTRICTED STOCK AGREEMENT

This RESTRICTED STOCK AGREEMENT (this “Agreement”) is entered into as of [GrantDate] (the “Grant Date”), between US Ecology, Inc., a Delaware corporation (the “Company”), and [FirstLast] (the “Grantee”).

WHEREAS, the Company maintains the Amended and Restated US Ecology, Inc. Omnibus Incentive Plan (as amended and/or restated from time to time, the “Plan”) pursuant to which Restricted Stock may be granted; and

WHEREAS, the Compensation Committee of the Company’s Board of Directors (the “Committee”) has determined that it is in the best interests of the Company and its stockholders to grant the award of Restricted Stock provided for herein to the Grantee in accordance with the terms of this Agreement.

NOW, THEREFORE, in consideration of these premises and the agreements set forth herein, the parties hereto, intending to be legally bound hereby, agree as follows:

1. Grant of Restricted Stock.

Pursuant to Section 6.3 of the Plan, the Company hereby grants to the Grantee an award of [TotalRS] Shares of Restricted Stock (the “Restricted Shares”). The Restricted Shares shall be administered by the Company or its designated agent and shall be subject to the execution and return of this Agreement by the Grantee (or the Grantee’s estate, if applicable) to the Company as provided in Section 5 hereof.  Capitalized terms that are used but not defined herein have the meanings ascribed to them in the Plan.

2. Restrictions on Transfer.

Except as permitted by the Committee in accordance with Section 13 of the Plan, no unvested Restricted Shares or other right or interest of the Grantee with respect thereto shall be pledged, encumbered, or hypothecated to, or in favor of, or subject to any lien, obligation, or liability of the Grantee to, any Person other than the Company or any Subsidiary, or assigned or transferred by the Grantee otherwise than by will or the laws of descent and distribution, and all rights hereunder shall be exercisable during the lifetime of the Grantee only by the Grantee or his or her guardian or legal representative.

3. Restricted Period.

The Restricted Shares are unvested on the Grant Date.  Except as provided in Section 4 hereof, the Restricted Shares shall vest as follows:

·

[Year1RS] of the Restricted Shares shall vest on [Year1VestingDate];

·

[Year2RS] of the Restricted Shares shall vest on [Year2VestingDate]; and

·

[Year3RS] of the Restricted Shares shall vest on [Year3VestingDate].

Vesting in all cases is subject to the Grantee’s continued employment or other service with the Company or a Subsidiary from the Grant Date until the applicable vesting date.

4. Effect of Certain Terminations of Employment or Other Service.

Unless otherwise provided in an effective employment, consulting, severance or similar agreement with the Company or a Subsidiary, if the Grantee’s employment or other service terminates at any time (A) (i) due to the Grantee’s death or Disability; or (ii) within twenty-four (24) months following a Change in Control by the Company or a Subsidiary without Cause or by the Grantee for Good Reason, then in each case of clauses (i) and (ii), all then outstanding Restricted Shares which have not vested in accordance with Section 3 herein shall vest in full as of the date of such termination and the applicable Restriction Period shall expire or (B) other than as provided in clause (A) of this Section 4, then any unvested Restricted Shares shall be forfeited with no compensation due to the Grantee or any other Person.


5. Execution of Award Agreement.

The Restricted Shares shall be subject to the Grantee’s execution and return of this Agreement to the Company or its designee (including by electronic means, if so provided) no later than the earlier of (i) [AcceptanceDate]; and (ii) the date that is immediately prior to the first date that any of the Restricted Shares vest pursuant to Section 3 or 4 hereof (the “Grantee Return Date”); provided that if the Grantee dies before the Grantee Return Date, this requirement shall be deemed to be satisfied if the executor or administrator of the Grantee’s estate executes and returns this Agreement to the Company or its designee no later than ninety (90) days following the Grantee’s death (the “Executor Return Date”). If this Agreement is not so executed and returned on or prior to the Grantee Return Date or the Executor Return Date, as applicable, the Restricted Shares shall be forfeited, and neither the Grantee nor the Grantee’s heirs, executors, administrators, beneficiaries or successors shall have any rights with respect thereto.

6. Stockholder Rights.

The Grantee shall have all rights as a stockholder with respect to the Restricted Shares (including, without limitation, the right to receive dividends thereon (whether in cash or Shares), at the same time such dividends are paid on Shares generally, and to vote such Restricted Shares).

7. No Right to Continued Employment or Other Service.

Neither the Plan nor this Agreement shall be construed as giving the Grantee any right to be retained in the employ or other service of the Company or any Subsidiary.

8. Withholding of Taxes.

The Grantee must make appropriate arrangements for the payment of any taxes relating to the Restricted Shares. The Company and its Subsidiaries are authorized to withhold from any payment relating to the Restricted Shares, including from a distribution of Shares, or from any payroll or other payment to the Grantee, amounts of withholding and other taxes due in connection with the Restricted Shares, and to take such other action as the Committee may deem advisable to enable the Company, its Subsidiaries and the Grantee to satisfy obligations for the payment of withholding taxes and other tax obligations relating to the Restricted Shares. This authority shall include, in the discretion of the Committee, the ability to withhold or receive Shares or other property and to make cash payments in respect thereof in satisfaction of the Grantee's tax withholding obligations and to require the Grantee to enter into elections in respect of taxes.  If the Grantee is subject to Section 16 of the Exchange Act with respect to the Company, the Grantee may direct the Company to reduce the number of Shares that would otherwise be deliverable upon the vesting of the Restricted Shares having a Fair Market Value on the date of vesting equal to the withholding taxes payable in connection with such vesting. Withholding of taxes in the form of Shares with respect to the Restricted Shares shall not occur at a rate that equals or exceeds the rate that would result in liability accounting treatment.

9. Compliance with Securities Law.

9.1

No Shares may be issued hereunder if the Company shall at any time determine that to do so would (i) violate the listing requirements of an applicable securities exchange, or adversely affect the registration or qualification of the Company's Shares under any state or federal law or regulation, or (ii) require the consent or approval of any regulatory body or the satisfaction of withholding tax or other withholding liabilities. In any of the events referred to in clause (i) or clause (ii) above, the issuance of such Shares shall be suspended and shall not be effective unless and until such withholding, listing, registration, qualifications or approval shall have been effected or obtained free of any conditions not acceptable to the Company in its sole discretion, notwithstanding any termination of the Restricted Shares or any portion of the Restricted Shares during the period when issuance has been suspended.

2


9.2

The Committee may require, as a condition to the issuance of the Restricted Shares hereunder, representations, warranties and agreements to the effect that such Restricted Shares are being purchased or acquired by the Grantee for investment only and without any present intention to sell or otherwise distribute such Restricted Shares and that the Grantee will not dispose of such Restricted Shares in a transaction which, in the opinion of counsel to the Company, would violate the registration provisions of the Securities Act or the rules or regulations thereunder.

10. Amendment.

The Committee may waive any condition or right under, or amend, alter, suspend, discontinue, or terminate, this Agreement and/or the Restricted Shares; provided, however, that without the consent of the Grantee, no such amendment, alteration, suspension, discontinuation, or termination of the Plan, this Agreement or the Restricted Shares may materially and adversely affect the rights of the Grantee under this Agreement, except insofar as any such action is necessary to ensure the Plan’s and this Agreement’s compliance with applicable law or regulation or the listing requirements of an applicable securities exchange, including, without limitation, Code Sections 162(m) or 409A.

11. Severability.

Should any provision of this Agreement be held by a court of competent jurisdiction to be unenforceable or invalid for any reason, the remaining provisions of this Agreement shall not be affected by such holding and shall continue in full force in accordance with their terms.

12. Governing Law.

To the extent that Federal laws do not otherwise control, the validity and construction of this Agreement shall be construed and enforced in accordance with the laws of the State of Delaware, but without giving effect to the choice of law principles thereof.

13. Recoupment.

The Restricted Shares shall be subject to mandatory repayment by the Grantee to the Company pursuant to the terms of any applicable Company "clawback" or recoupment policy.

14. Restricted Shares Subject to Plan.

This Agreement is subject to the Plan. The terms and provisions of the Plan as it may be amended from time to time are hereby incorporated herein by reference. In the event of a conflict between any term or provision contained herein and a term or provision of the Plan, the applicable terms and provisions of the Plan will govern and prevail.

15. Successors and Assigns.

The Company may assign any of its rights under this Agreement. This Agreement will be binding upon and inure to the benefit of the successors and assigns of the Company. Subject to the restrictions on transfer set forth herein or in the Plan, this Agreement will be binding upon the Grantee and the Grantee's beneficiaries, executors, administrators and the Person(s) to whom the Restricted Shares may be transferred by will or the laws of descent and distribution.

16. Resolution of Disputes.

Any dispute or disagreement which may arise under, or as a result of, or in any way related to, the interpretation, construction or application of this Agreement shall be determined by the Committee. Any determination made hereunder shall be final, binding and conclusive on the Grantee, the Grantee’s heirs, executors, administrators and successors, and the Company and all other Persons for all purposes.

3


17. Entire Agreement.

This Agreement and the terms and conditions of the Plan constitute the entire understanding between the Grantee and the Company regarding the subject matter of this Agreement, and supersede all other agreements, whether written or oral, with respect to the Restricted Shares.

18. Headings.

The headings of this Agreement are inserted for convenience only and do not constitute a part of this Agreement.

19. Counterparts.

This Agreement may be executed in counterparts, each of which shall be deemed an original but all of which together will constitute one and the same instrument. Counterpart signature pages to this Agreement transmitted by facsimile transmission, by electronic mail in portable document format (.pdf), or by any other electronic means intended to preserve the original graphic and pictorial appearance of a document, will have the same effect as physical delivery of the paper document bearing an original signature.

20. Acceptance.

The Grantee hereby acknowledges receipt of a copy of the Plan and this Agreement. The Grantee has read and understands the terms and provisions thereof and hereof, and accepts the Restricted Shares subject to all of the terms and conditions of the Plan and this Agreement. The Grantee acknowledges that there may be adverse tax consequences upon the vesting of the Restricted Shares or the disposition of the Restricted Shares, and that the Grantee has been advised to consult a tax advisor prior to such vesting or disposition.

[Signature Page Follows]

4


IN WITNESS WHEREOF, this Agreement has been executed effective the __ day of ______, 20__.

US ECOLOGY, INC.

By:

Jeffrey R. Feeler

Its:

President and Chief Executive Officer

GRANTEE

Name:

[FirstLast]

Address:

[Address]

[City], [State] [Zip]

Employee ID#:

[TaxID]



Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘10-Q’ Filing    Date    Other Filings
Filed on:5/3/21
For Period end:3/31/21PRE 14A
 List all Filings 


1 Subsequent Filing that References this Filing

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 2/28/22  US Ecology, Inc.                  10-K       12/31/21  133:18M                                    Toppan Merrill Bridge/FA
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Filing Submission 0001558370-21-005500   –   Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)

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