Exhibit 10.1

August 12, 2019

Via Email-Delivery

Mr. Andrew A. Aberdale

Re:          Separation Agreement / Complete Waiver and Release

Dear Andrew:

This letter confirms that your employment with Target Logistics Management, LLC, DBA Target Hospitality Corp. (the “ Company ”) will end effective on Tuesday, September 3, 2019 (the “ Date of Termination ”).  Upon your signature, this letter constitutes your Separation Agreement and Complete Waiver and Release regarding the terms of your separation from employment from the Company (the “ Agreement ”).

1.             Your last day with the Company will be September 3, 2019.

2.             You will be paid your base salary, at its current amount, as well as any accrued vacation through the Date of Termination (“ Accrued Benefits ”). The Company will pay the Accrued Benefits no later than September 9, 2019.

3.             In consideration of your acceptance of this Agreement including the release and waiver provisions herein without exercising your revocation rights (described below), and subject to you fully meeting your obligations hereunder and your continued compliance with all confidentiality, non-disclosure, and non-competition agreements previously entered into with the Company, the Company will provide you the following consideration:

a.             Severance pay in the amount of $400,000, minus all withholding taxes and other usual deductions, including personal expenditures or other amounts owed to the Company (the “ Separation Payment ”). The Separation Payment will be made through the Company’s normal payroll procedures and direct deposited into the bank account currently on file with the Company. The Separation Payment will be made on the first regularly scheduled pay date that occurs after (i) the Date of Termination, and (ii) receipt of this Agreement and the expiration of the revocation period set forth herein.

b.             The Company will also pay your 2019 Annual Bonus (“ Annual Bonus ”), as that term is described and defined in the January 29, 2019 Employment Agreement (the

“ Employment Agreement ”), based on the Company’s actual performance for the 2019 fiscal year against performance criteria determined by the Compensation Committee of the Company. Notwithstanding the requirements of continued employment provided for in the Employment Agreement, the Annual Bonus shall be calculated as if you remained employed with the Company through December 31, 2019. However, in no event shall the Annual Bonus exceed the Target Amount of seventy-five percent (75%) of your current annual base salary, regardless of the Company’s performance against the designated performance criteria. The Annual Bonus, if any, will be paid, minus all withholding taxes and other usual deductions, when annual bonuses are paid to other senior executives of the company, which will be no later than March 15, 2020.

c.             Pursuant to the Target Hospitality 2019 Incentive Award Plan (the “ Plan ”), you and the Company entered into a May 21, 2019 Executive Nonqualified Stock Option Award Agreement (“ Option Agreement ”) and a May 21, 2019 Executive Restricted Stock Unit Agreement (“ RSU Agreement ”), pursuant to which there remain Options and/or Restricted Stock Units (as those terms are defined in the agreements) that have not yet vested as of the Date of Termination. Notwithstanding the vesting schedule provided for within the Option Agreement, the Company will cause twenty-five percent (25%) of the Options (18,713 Common Shares) to vest as of the Date of Termination, with your ability to exercise such Options ending on December 3, 2019. Moreover, notwithstanding the vesting schedule provided for in the RSU Agreement, the Company will cause twenty-five percent (25%) of the Restricted Stock Units (5,772 Restricted Stock Units) to vest as of the Date of Termination.  There are no other Restricted Stock Units or Options outstanding that have vested or will have the opportunity to vest, and any other unnamed Restricted Stock Units or Options provided for under the Option Agreement, the RSU Agreement, or any other agreement between you and the Company, will be forfeited and surrendered to the Company by you upon the Date of Termination. For the avoidance of doubt, any shares, units, or options, distributed to you prior to the Date of Termination pursuant to the November 11, 2018 Amended and Restated Earn-Out Agreement are not forfeited and surrendered by this Agreement.

d.             Continuation of health care coverage after the Separation Date is available through the Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”).  COBRA information will be mailed to your last known home address within fifteen (15) days of the Date of Termination.  Provided that you timely and properly (i) elect COBRA coverage with the Company’s COBRA vendor after the Date of Termination, and (ii) timely remit to the Company’s COBRA vendor as payment an amount equal to the premium applicable to your chosen level of coverage (“ Employee Contribution ”), the Company will reimburse you for the amount paid to continue your health benefits under COBRA until the earlier of (x) twelve (12) months after the Date of Termination, or (y) the date you become eligible for comparable group health coverage from another source (“ Coverage Period ”).  For the avoidance of doubt, you will remain responsible for the COBRA premium payments during the Coverage Period; provided, however, that the Company will make reimbursement payments to you, in equal installments in accordance with the Company’s regular payroll practice, in an amount equal to the Employee Continuation amount (“ Continued Coverage Payment ”).  The COBRA vendor will communicate

to you the amount of the Employee Contribution, including any changes to the Employee Contribution resulting from potential changes to the cost of coverage between calendar years.  You agree that if you do not timely elect COBRA coverage with the Company’s COBRA vendor, or do not timely submit the Employee Contribution to the COBRA vendor on an ongoing monthly basis, you will have voluntarily waived your entitlement to receive Continued Coverage Payments or continued health benefits. You understand and agree you must notify the Company immediately should you receive comparable health benefit coverage from another source.

e.             You agree that the Separation Payment, Annual Bonus, Continued Coverage Payment, and Continued Vesting made by the Company in accordance with the terms of this Agreement shall constitute payment in full of any and all claims (including without limitation any bonus, option, unit awards, or other performance based compensation) which are now or might hereafter become owing to you for services rendered by you during your employment with the Company, including, but not limited to, the Employment Agreement, Restricted Stock Award, and Option Award, between you and the Company.

4.             You acknowledge that, upon receipt of the amounts contemplated by Paragraphs 2 and 3 above, you have received any and all salary, overtime, bonuses, vacation, benefits or other forms of compensation owed for all hours worked and to which you may be entitled from the Company, at any time, now or in the future as a result of any work or services performed through the Date of Termination.  You also acknowledge that you have not sustained any work-related injury during employment with the Company.

You further acknowledge that the following items used in the Company’s business are secret, confidential, unique and valuable, were developed by the Company at great cost and over a long period of time, and disclosure of any of the items to anyone other than the Company’s officers, agents, or authorized employees will cause the Company irreparable injury:

a.             Customer lists, call lists, computer lists and other confidential lists;

b.             Memoranda, notes, records, accounts, computer data and other confidential financial and technical data;

c.             Sketches, plans, drawing, and other production, personnel, manufacturing and development data; or

d.             Data Processing methods and programs, manufacturing processes, and the composition, pricing and production of the Company’s various products and services.

5.             You agree that after the Date of Termination you will not disclose to anyone, other than to the Company’s officers, agents or authorized employees any of the items specifically listed in Paragraph 4 or any of the Company’s other confidential or proprietary business information or trade secrets, including but not limited to information regarding pending

employment claims and the information you may have obtained in any investigations thereof.  In addition, you agree that after the Date of Termination you will not attempt to access or instruct any other persons to access on your behalf any of the items specifically listed in Paragraph 4 or any of the Company’s other confidential or proprietary business information or trade secrets.

6.             You agree to vacate Company property and remove all personal belongings as soon as possible after the Date of Termination, under the supervision of Company management.  In signing this Agreement, you give the Company assurance that you will return to the Company any and all documents, electronic files, materials and information related to the business (present or otherwise) of the Company, and all of their keys and other property in your possession or control, including, without limitation, company-issued credit cards, company-issued vehicles, laptops and hand-held computers, all other computers, including all of the software, data and their copies, and cellular telephones on the Date of Termination.

7.             WAIVER AND RELEASE. You, your heirs, representatives, executors, administrators, successors and assigns, (collectively “ you ”) hereby voluntarily waive, release, settle, discharge and promise never to assert any and all claims, demands, charges, actions, suits, debts, covenants, contracts, promises, agreements, in law and equity (collectively “ claims ”), whether known or unknown, that you have or might have against the Company and its predecessors, parent companies, divisions, related entities, officers, directors, shareholders, members, agents, attorneys, employees, successors or assigns, from the beginning of the world to the date of this Agreement, whether arising under the United States and/or state constitutions and laws or common law and/or arising out of alleged violations of any federal, state, local or other governmental statutes, regulations or ordinances, and whether currently existing or hereafter arising based on existing facts or events arising from or related to your employment with the Company, the terms and conditions of your employment, your compensation and benefits, or your separation and termination of employment with the Company.  These claims include, but are not limited to, any and all claims arising under federal, state and local statutory or common law, including, without limitation, all torts, breach of contract, impairment of economic opportunity, wrongful discharge, intentional or negligent infliction of emotional harm, promissory estoppel, fraud, defamation, misrepresentation, invasion of privacy, whistleblower or any other tort or legal wrong; all claims for reinstatement, wages, bonuses, severance, benefits, back or front pay, meal breaks, leaves of absence, or other forms of compensation or benefits; all claims for attorneys’ fees, costs or punitive damages; and, any and all claims for discrimination or retaliation under federal, state or local law, including without limitation claims arising under Title VII of the Civil Rights Act of 1964; the Americans With Disabilities Act; the Rehabilitation Act of 1973, as amended; the Uniform Services Employment and Re-employment Rights Act (USERRA); the Civil Rights Act, as amended; the Family and Medical Leave Act of 1993, as amended; the Employee Retirement Income Security Act of 1974, as amended; Chapters 21 and 451 of the Texas Labor Code (or any other applicable state or local equivalent thereof).  Notwithstanding the foregoing, this waiver and release shall not apply to (1) your ability to enforce the terms of this Agreement, (2) any claim which, as a matter of law, cannot be released by private agreement such as claims for unemployment compensation and workers

compensation, (3) any legal indemnification rights (if any exist) for acts or omissions occurring in your capacity as an officer of the Company prior to the Date of Termination, and (4) any non-waivable charges or claims that may be brought before any governmental agency which cannot be waived as a matter of law; however, with regard to any non-waivable claims, you agree that you will not accept any further compensation from the Company nor any other benefit sought or obtained by anyone purporting to act on your behalf.

8.             WAIVER AND RELEASE OF AGE CLAIMS. In consideration of the covenants and payments made to you in Paragraph 3 above to which you acknowledge you are not otherwise entitled to, you, your heirs, representatives, executors, administrators, successors and assigns (collectively “ you ”) hereby waive, release and discharge all rights and claims you may have against the Company and its predecessors, parent companies, divisions, related entities, officers, directors, shareholders, agents, attorneys, employees, successors or assigns, under the Age Discrimination in Employment Act of 1967, as amended, 29 U.S.C. §621 et seq. (the “ Act ”), and the Older Workers Benefit Protection Act, 29 U.S.C. 626, which prohibits age discrimination in employment, except that this Agreement does not release any claims under the Act that may arise after the signing of this Agreement. This waiver and release also applies to any state law governing age discrimination in employment and applies to any claims that may now exist whether known or unknown to you.

9.             You understand, acknowledge and agree that you:

a.             agree this Agreement was written in a manner calculated to be understood by you, and you have carefully read this Agreement, and you understand and are fully informed of its terms contents, conditions and effects;

b.             are waiving rights or claims in exchange for consideration which is in addition to anything of value to which you are already entitled;

c.             have been advised in writing by the terms of this Agreement to consult with an attorney prior to executing it and have been given an opportunity to do so;

d.             were given a period of at least twenty-one (21) days within which to consider whether to sign it, but need not take that long if you do not wish to. Any decision by you to execute this Agreement before the twenty-one (21) day period has expired was done so voluntarily, and not because of any fraud or coercion or improper conduct by the Company, and

e.             freely, knowingly, and voluntarily assent to all of the terms and conditions of this Agreement, including the waiver of rights.

You further recognize that you have been given a period of at least seven (7) days following your execution of this Agreement in which you may revoke it, in writing.  This Agreement shall not become effective or enforceable until the seven (7) day period has expired. Any notice of

revocation must be in writing and received by the Company prior to the expiration of the revocation period. If revoked, (i) this Agreement will be revoked in full and void ab initio, as if it had never been entered into; (ii) any opportunity to receive the consideration and benefits provided under this Agreement shall terminate and be forfeited; and (iii) any of your obligations under the Employment Agreement (including, but not limited to the non-competition and non-disclosure provisions) are unaffected and remain in full force and effect.

By executing this Agreement, you do not waive the right to enforce the terms of this Agreement.  Moreover, this Agreement shall not be construed to interfere with your right to initiate or participate in any investigation or proceeding before a state or federal agency; provided however that it does and shall operate to prevent you from receiving or sharing in any relief, remedy, judgment or award resulting from such administrative investigation or proceeding that relates to or arises out of any allegation, action, or matter occurring on or before the date you execute this Agreement.

10.          The Company (through its human resources department) will provide future employers with a neutral job reference, confirming your dates of employment and positions held.

11.          You agree that you will not disclose, directly or by implication, any of the terms or provisions of this Agreement, except (i) to members of your immediate family on condition that they be advised that they cannot further disclose any of the same to others, or (ii) as may be necessary to obtain professional legal and/or tax advice regarding this Agreement, or (iii) as required by law or administrative subpoena.  If you breach the confidentiality provisions in this paragraph, you will be liable to the Company for damages permitted by law as a result of your breach, including monies paid to you pursuant to this Agreement and the attorneys’ fees and costs incurred by the Company in the course of any action brought to enforce the terms of this Agreement or to recover sums paid to you pursuant to the Agreement.

12.          [Reserved]

13.          Code Section 409A.  This Agreement is intended to comply with the provisions of Section 409A of the Internal Revenue Code of 1986, as amended, and the rules and regulations promulgated thereunder (collectively, “ Code Section 409A ”), and this Agreement, the Employment Agreement, the Option Agreement, the RSU Agreement, and the Plan, to the extent practicable, shall be construed in accordance therewith.  To the extent there is any ambiguity in this Agreement as to its compliance with Code Section 409A, this Agreement shall be read to conform to the requirements of Code Section 409A, and the Company may, in its sole discretion, amend or replace this Agreement to cause this Agreement to comply with Code Section 409A.  Neither you nor the Company shall have the right to accelerate or defer the delivery of any consideration provided under this Agreement except to the extent specifically permitted or required by Code Section 409A.  Terms defined in this Agreement, the Employment Agreement, the Option Agreement, the RSU Agreement, and the Plan, shall have the meanings given such terms under Code Section 409A if and to the extent required to comply with Code Section 409A.

In any event, the Company makes no representations or warranty and shall have no liability to you or any other person if any provisions of or payments under this Agreement are determined to constitute deferred compensation subject to Code Section 409A but not to satisfy the conditions of that section.

14.          You agree that you have not and will not disparage the Company or its affiliates or any of its officers or employees and that you have not and will not do or say anything that could reasonably be interpreted to be harmful to the interests of the Company or its affiliates.

15.          You and the Company agree that nothing in this Agreement is meant to suggest or imply in any way that the Company has violated any law or contract or otherwise engaged in any wrongdoing of any kind.  You and the Company have entered into this Agreement merely to resolve any differences between you amicably and without the necessity or expense of litigation.

16.          As mutually agreed, up to and through September 17, 2019, you agree to make yourself available in person at the offices of the Company upon request by the Company to provide transition assistance or answer business-related questions related to your employment with the Company. For the time period of September 18, 2019, through January 14, 2020, you agree to make yourself available via telephone or other remote means and cooperate with the Company in order to answer any questions, resolve any issues or provide any training that may be necessary as the Company transfers the responsibility for the duties you performed. Further, you agree to provide truthful testimony and information and to otherwise reasonably cooperate with the Company in connection with any and all existing or future claims, litigation or investigations brought by or against the Company or any of its past or present affiliates, agents, officers, directors, fiduciaries, or employees, whether administrative, civil or criminal in nature, with respect to such matters as were within you knowledge while employed by the Company.  All reasonable expenses and a mutually agreed upon per diem, if any, will be paid to you.

17.          This letter, the Employment Agreement, the RSU Agreement, the Option Award Agreement, and the Plan sets forth the entire agreement between the parties hereto on the subject matter hereof, and fully supersedes any and all prior agreements or understandings between the parties on that subject matter, except as specifically set forth herein; provided, however, that this Agreement does not replace or supersede or modify any existing obligation, under applicable law or agreement regarding confidentiality, fiduciary duties, non-disparagement, non-competition, unfair competition, non-solicitation, or non-disclosure.

18.          Nothing in this Agreement prohibits you from filing a charge or complaint with, communicating with, or cooperating with any investigation of unfair or illegal employment practices by, the United States Equal Employment Opportunity Commission, the Texas Workforce Commission, the Securities and Exchange Commission (the “ SEC ”), or any other governmental agency.  This Agreement does not impose any condition precedent (such as prior notice to the Company), any penalty, or any other restriction or limitation adversely affecting your rights regarding any governmental agency disclosure, report, claim or investigation.

Further, you may disclose your wages, hours, or other terms and conditions related to your employment in the exercise of any rights provided by the National Labor Relations Act. Notwithstanding the foregoing, you agrees to waive your right to recover monetary damages or other personal relief in any charge, complaint, or lawsuit that you have filed or might file or which might be filed on your behalf.  Both you and the Company further understand and agree that nothing in this Agreement limits your right to receive an award for information provided to the SEC or under any of its programs.

19.          Each of the covenants contained herein shall be binding upon and shall inure to the benefit of the heirs, executors, administrators, assigns, and successors in interest of each of the parties.

20.          This Agreement shall be exclusively governed by and construed in accordance with the laws of the State of Texas, without regard to the choice of law provisions of such law.

21.          If any term or provision of the Agreement shall be held invalid of unenforceable to any extent or in any application, then the remainder of this Agreement, and any such term or provision except to such extent or in such application shall not be affected thereby and each and every term and provision of this Agreement shall be valid and enforceable to the fullest extent and in the broadest application permitted by law.

22.          You understand and agree that this Agreement shall not in any way be construed as an admission by you or the Company of any unlawful or wrongful acts whatsoever against the other, or any other person, and you specifically disclaim any liability to or wrongful acts against the Company, including those relating to or involving, directly or indirectly, your employment by the Company.

23.          You are solely liable for any tax which may be or become due on the Separation Payment.

24.          You acknowledge that you have fully read and understood this Agreement and that you are entering it knowingly, freely and voluntarily.

The Company wishes you all the best in your future endeavors.

This Separation Agreement, containing all the above recited terms, conditions and releases are hereby accepted, approved and adopted by me:

Please return an original, signed copy of this letter to Target Hospitality, 2170 Buckthorne Place Suite 440, The Woodlands, TX 77380 Attn: General Counsel

Exhibit 10.2

EMPLOYMENT AGREEMENT

This EMPLOYMENT AGREEMENT (“ Agreement ”) is entered into by and between Target Logistics Management, LLC, a Massachusetts limited liability company (the “ Employer ”), and Eric T. Kalamaras, an individual (the “ Executive ”).

WHEREAS, the Executive will be employed as Executive Vice President and Chief Financial Officer; and

WHEREAS, the Employer and the Executive desire to enter into this Agreement to set out the terms and conditions for the employment relationship of the Executive with the Employer.

NOW, THEREFORE, in consideration of the mutual covenants and agreements set forth herein and for other good and valuable consideration, the receipt and sufficiency of which hereby are acknowledged, the parties hereto agree as follows:

1.                                       Employment Agreement . On the terms and conditions set forth in this Agreement, the Employer agrees to employ the Executive and the Executive agrees to continue to be employed by the Employer for the Employment Period set forth in Section 2 and in the positions and with the duties set forth in Section 3 . Terms used herein with initial capitalization not otherwise defined are defined in Section 25 .

2.                                       Term . The Executive’s employment hereunder shall be effective as of September 3, 2019 (the “ Effective Date ”) and shall extend for 36 months from this date (the “ Initial Term ”). The term of employment shall be automatically extended for an additional consecutive 12-month period (the “ Extended Term ”) on the last day of the Initial Term and each subsequent anniversary thereof, unless and until the Employer or Executive provides written notice to the other party in accordance with Section 11 hereof not less than 120 days before such anniversary date that such party is electing not to extend the term of employment under this Agreement (“ Non-Renewal ”), in which case the term of employment hereunder shall end as of the end of such Initial Term or Extended Term, as the case may be, unless sooner terminated as hereinafter set forth. Such Initial Term and all such Extended Terms are collectively referred to herein as the “ Employment Period ”. Anything herein to the contrary notwithstanding, if on the date of a Change in Control the remaining term of the Employment Period is less than 12 months, the Employment Period shall be automatically extended to the end of the 12-month period following such Change in Control.

3.                                       Position and Duties . During the Employment Period, the Executive shall serve as the Chief Financial Officer of the Employer. In such capacities, the Executive shall report exclusively to the President and Chief Executive Officer of the Employer and shall have the duties, responsibilities and authorities customarily associated with such position(s) in a company the size and nature of the Employer. The Executive shall devote the Executive’s reasonable best efforts and full business time to the performance of the Executive’s duties hereunder and the advancement of the business and affairs of the Employer; provided that , the Executive may serve on civic, charitable, educational, religious, public interest or public service boards, one for-profit entity board (provided the entity is not a competitor of the Employer) and manage the Executive’s personal and family investments, in each case, to the extent such activities do not materially interfere with the performance of the Executive’s duties and responsibilities hereunder.

4.                                       Place of Performance . During the Employment Period, except for reasonable travel on the Employer’s business consistent with the Executive’s position, the Executive shall be based primarily at the Employer’s executive headquarters, currently located in Houston, Texas.

5.                                       Compensation and Benefits; Options .

(a)                                  Base Salary . During the Employment Period, the Employer shall pay to the Executive a base salary (the “ Base Salary ”) at the rate of no less than $415,000 per calendar year, less applicable deductions, and prorated for any partial year. Beginning with the first quarter of 2020, the Base Salary shall be reviewed for increase by the Employer no less frequently than annually, and shall be increased in the discretion of the Employer and any such adjusted Base Salary shall constitute the “Base Salary” for purposes of this Agreement. The Base Salary shall be paid in substantially equal installments in accordance with the Employer’s regular payroll procedures. The Executive’s Base Salary may not be decreased during the Employment Period.

(b)                                  Election to Receive RSUs . Capitalized terms used in this Section 3(b)  but not defined in this Agreement shall have the meaning ascribed to them under the Incentive Plan. Notwithstanding any provision of this Agreement to the contrary, no later than thirty (30) days prior to the commencement of the second calendar year during the Employment Period and each calendar year thereafter during the Employment Period, the Executive may elect in writing to receive 100% of the Base Salary in the form of restricted stock units (“ RSUs ”) in respect of Common Shares under the Incentive Plan; the amount of RSUs that Executive shall be entitled to receive pursuant to any such election shall be determined by dividing the applicable annual Base Salary by the then Fair Market Value per Common Share. Any such election by the Executive shall continue in effect for each subsequent calendar year during the Employment Period unless and until notice revoking such election is provided by the Executive or the Employer no later than thirty (30) days prior to the commencement of the applicable calendar year; provided that any such election may be cancelled at any time, with no liability to the Employer, and the Base Salary may be paid in cash in accordance with Section 5(a) , if the Compensation Committee of the Board (the “ Committee ”) does not approve the grant of RSUs to the Executive in accordance with the terms of the Incentive Plan. The RSUs shall vest ratably each month during the calendar year any such election is in effect; provided that in the event of a termination of the Executive’s employment for any reason, the vesting of the RSUs shall cease and any unvested RSUs shall be forfeited as of the Date of Termination. The Restricted Period applicable to any RSUs issued hereunder shall lapse at the end of the calendar year in respect of which any such RSUs were issued, whereupon the Executive shall be entitled to one Common Share for each RSU that is no longer subject to the applicable Restricted Period.  Except as otherwise provided herein, any RSUs granted pursuant to this Section 5(b)  shall be subject to the terms and conditions of the Incentive Plan and applicable Award agreement, neither of which shall conflict with the terms hereof.

(c)                                   Annual Bonus . For each fiscal year of the Employer ending during the Employment Period, the Executive shall be eligible to earn an annual cash performance bonus (an “ Annual Bonus ”) based on performance against performance criteria determined by the Committee. The Executive’s annual target bonus opportunity for a fiscal year, which shall be prorated from the Effective Date for 2019, shall equal 85% of the Executive’s Base Salary at the beginning of such year (the “ Target Bonus ”). The Executive’s Annual Bonus for a fiscal year shall be determined by the Committee after the end of the applicable bonus period and shall be paid to the Executive when annual bonuses for that year are paid to other senior executives of the Employer generally, but in no event later than March 15 of the year following the year to which such Annual Bonus relates.

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(d)                                  Sign -On Bonus .  The Executive shall be entitled to receive a one time cash payment in the amount of $93,187 to be paid in two equal installments on the 6 and 12 month anniversaries of the Effective Date.

(e)                                   Long Term Incentive Equity .

(i)                                      Annual Award . With respect to each fiscal year of the Employer ending during the Employment Period, the Executive shall be eligible to receive annual equity awards under the Incentive Plan (“ Annual Award ”). The level of the Executive’s participation in any such plan, if any, shall be determined in the discretion of the Committee from time to time. The  target grant value of the Annual Award is $600,000, provided that  the actual value eligible for vesting of any grant may be higher or lower based on the establishment of performance criteria determined by the Committee, in its discretion. Terms and conditions of such awards shall be governed by the terms and conditions of the applicable plan and the applicable award agreements.

(ii)                                   Initial Annual Award . For the Employer’s 2019 fiscal year, within 30 days of the Effective Date, the Executive shall receive an equity award under the Incentive Plan having a grant date fair value (as determined by the Committee) of $600,000, 50% of which will be in the form of options and 50% of which will be in the form of RSUs, in each case, consistent with the terms set forth in Annex A.

(iii)                                Legacy Retention Buyout . Within 30 days of the Effective Date, the Executive shall receive a one time legacy retention buyout equity award (“ Legacy Retention Buyout Award”) under the Incentive Plan having a grant date fair value of $500,000 which will be in the form of RSUs consistent with the terms set forth in Annex A.

(f)                                    Vacation . During the Employment Period, the Executive shall be entitled to six (6) weeks’ vacation annually to be used in accordance with the Employer’s applicable vacation policy.

(g)                                   Automobile Allowance . During the Employment Period, the Executive shall be entitled to an automobile allowance of $1,200 per month, payable in accordance with the Employer’s applicable automobile allowance policy.

(h)                                  Benefits . During the Employment Period, the Employer shall provide to the Executive employee benefits and perquisites on a basis that is comparable in all material respects to that provided to other similarly situated executives of the Employer. The Employer shall have the right to change insurance carriers and to adopt, amend, terminate or modify employee benefit plans and arrangements at any time and without the consent of the Executive.

(i)                                      Additional Benefits .  During the Employment Period, to the extent permitted under applicable law including without limitation the Patient Protection and Affordable Care Act and Section 105(h) of the Code, the Employer shall reimburse the Executive for the Executive’s portion of the premium costs under the Employer’s group health, dental, vision, life and AD&D, STD and LTD insurance.

6.                                       Expenses . The Executive is expected and is authorized to incur reasonable expenses in the performance of his duties hereunder. The Employer shall reimburse the Executive for all such expenses reasonably and actually incurred in accordance with policies which may be adopted from time to time by the Employer promptly upon periodic presentation by the Executive of an itemized account, including reasonable substantiation, of such expenses. For avoidance of doubt, the Company shall

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reimburse the Executive for the reasonable legal costs incurred by Executive to review this Agreement in an amount not to exceed $5,000.

7.                                       Confidentiality, Non-Disclosure and Non-Competition Agreement . The Employer and the Executive acknowledge and agree that during the Executive’s employment with the Employer, the Executive will have access to and may assist in developing Employer Confidential Information and will occupy a position of trust and confidence with respect to the Employer’s affairs and business and the affairs and business of the Employer Affiliates. The Executive agrees that the following obligations are necessary to preserve the confidential and proprietary nature of Employer Confidential Information and to protect the Employer and the Employer Affiliates against harmful solicitation of employees and customers, harmful competition and other actions by the Executive that would result in serious adverse consequences for the Employer and the Employer Affiliates:

(a)                                  Non-Disclosure . During and after the Executive’s employment with the Employer, the Executive will not knowingly use, disclose or transfer any Employer Confidential Information other than as authorized in writing by the Employer or within the scope of the Executive’s duties with the Employer as determined reasonably and in good faith by the Executive. Anything herein to the contrary notwithstanding, the provisions of this Section 7(a)  shall not apply when disclosure is required by law or by any court, arbitrator, mediator or administrative or legislative body (including any committee thereof) with actual or apparent jurisdiction to order the Executive to disclose or make accessible any information or as to information that becomes generally known to the public or within the relevant trade or industry other than due to the Executive’s violation of this Section 7(a) .

(b)                                  Materials . The Executive will not remove any Employer Confidential Information or any other property of the Employer or any Employer Affiliate from the Employer’s premises or make copies of such materials except for normal and customary use in the Employer’s business as determined reasonably and in good faith by the Executive. The Executive will return to the Employer all Employer Confidential Information and copies thereof and all other property of the Employer or any Employer Affiliate at any time upon the request of the Employer and in any event promptly after termination of Executive’s employment. The Executive agrees to attempt in good faith to identify and return to the Employer any copies of any Employer Confidential Information after the Executive ceases to be employed by the Employer. Anything to the contrary notwithstanding, nothing in this Section 7 shall prevent the Executive from retaining a home computer, papers and other materials of a personal nature that do not contain Employer Confidential Information.

(c)                                   No Solicitation or Hiring of Employees . During the Non-Compete Period, the Executive shall not solicit, entice, persuade or induce any individual who is employed by the Employer or any Employer Affiliate (or who was so employed within 180 days prior to the Executive’s action) to terminate or refrain from continuing such employment or to become employed by or enter into contractual relations with any other individual or entity, and the Executive shall not hire, directly or indirectly, as an employee, consultant or otherwise, any such person.

(d)                                  Non-Competition .

(i)                                      During the Non-Compete Period, the Executive shall not, directly or indirectly, (A) solicit or encourage any client or customer of the Employer (solely for purposes of this Section 7(d), “Employer” shall include any direct or indirect majority-owned subsidiary of the Employer), or any person or entity who was such a client or customer of the Employer within 180 days prior to Executive’s action to terminate, reduce or alter in a manner adverse to the Employer, any existing business arrangements with the Employer or to transfer existing business from the Employer to any other person or entity, (B) provide services in any capacity to any entity that competes with the Employer by

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providing the same or substantially same services as those provided by the Employer  in any geographic area in which the Employer conducts that business, or is actively planning to conduct that business, as of the date of such termination (the “ Non-Competition Area ”) the or (C) own an interest in any entity described in Section 7(d)(i)(B)  immediately above. The Executive agrees that, before providing services, whether as an employee or consultant, to any entity during the Non-Compete Period, the Executive will provide a copy of this Agreement to such entity. The Executive acknowledges that this covenant has a unique, very substantial and immeasurable value to the Employer, that the Executive has sufficient assets and skills to provide a livelihood for the Executive while such covenant remains in force and that, as a result of the foregoing, in the event that the Executive breaches such covenant, monetary damages would be an insufficient remedy for the Employer and equitable enforcement of the covenant would be proper.

(ii)                                   If the restrictions contained in Section 7(d)(i)  shall be determined by any court of competent jurisdiction to be unenforceable by reason of their extending for too great a period of time or over too great a geographical area or by reason of their being too extensive in any other respect, Section 7(d)(i)  shall be modified to be effective for the maximum period of time for which it may be enforceable and over the maximum geographical area as to which it may be enforceable and to the maximum extent in all other respects as to which it may be enforceable.

(e)                                   Enforcement . The Executive acknowledges that in the event of any breach of this Section 7 , the business interests of the Employer and the Employer Affiliates will be irreparably injured, the full extent of the damages to the Employer and the Employer Affiliates will be impossible to ascertain, monetary damages will not be an adequate remedy for the Employer and the Employer Affiliates, and the Employer will be entitled to enforce this Agreement by a temporary, preliminary and/or permanent injunction or other equitable relief, without the necessity of posting bond or security, which the Executive expressly waives. The Executive understands that the Employer may waive some of the requirements expressed in this Agreement, but that such a waiver to be effective must be made in writing and should not in any way be deemed a waiver of the Employer’s right to enforce any other requirements or provisions of this Agreement. The Executive agrees that each of the Executive’s obligations specified in this Agreement is a separate and independent covenant and that the unenforceability of any of them shall not preclude the enforcement of any other covenants in this Agreement. In signing this Agreement, the Executive gives the Employer assurance that the Executive has carefully read and considered all of the terms and conditions of this Agreement. The Executive agrees that these restraints are necessary for the reasonable and proper protection of the Employer and the Employer Affiliates and their Confidential Information and that each and every one of the restraints is reasonable in respect to subject matter, length of time and geographic area, and that these restraints, individually or in the aggregate, will not prevent the Executive from obtaining other suitable employment during the period in which the Executive is bound by the restraints. The Executive acknowledges that each of these covenants has a unique, very substantial and immeasurable value to the Employer and its Affiliates and that the Executive has sufficient assets and skills to provide a livelihood while such covenants remain in force. The Executive further covenants that he will not challenge the reasonableness or enforceability of any of the covenants set forth in this Agreement, and that the Executive will reimburse the Employer and the Employer Affiliates for all costs (including, without limitation, reasonable attorneys’ fees) incurred in connection with any action to enforce any of the provisions of this Agreement if the Executive challenges the reasonableness or enforceability of any of the provisions of this Agreement. It is also agreed that each of the Employer Affiliates will have the right to enforce all of the Executive’s obligations to that affiliate under this Agreement.

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8.                                       Termination of Employment .

(a)                                  Permitted Terminations . The Executive’s employment hereunder may be terminated during the Employment Period under the following circumstances:

(i)                                      Death . The Executive’s employment hereunder shall terminate automatically upon the Executive’s death;

(ii)                                   By the Employer . The Employer may terminate the Executive’s employment:

(A)                                Disability . If the Executive shall have been substantially unable to perform the Executive’s material duties hereunder by reason of illness, physical or mental disability or other similar incapacity, which inability shall continue for 180 consecutive days or 270 days in any 24-month period (a “ Disability ”) (provided, that until such termination, the Executive shall continue to receive the Executive’s compensation and benefits hereunder, reduced by any benefits payable to the Executive under any applicable disability insurance policy or plan); or

(B)                                Cause . For Cause or without Cause;

(iii)                                By the Executive . The Executive may terminate the Executive’s employment for any reason (including Good Reason) or for no reason.

(b)                                  Termination . Any termination of the Executive’s employment by the Employer or the Executive (other than because of the Executive’s death) shall be communicated by written Notice of Termination to the other party hereto in accordance with Section 11 hereof. For purposes of this Agreement, a “ Notice of Termination ” shall mean a notice which shall indicate the specific termination provision in this Agreement relied upon, if any, and set forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of the Executive’s employment under the provision so indicated. Termination of the Executive’s employment shall take effect on the Date of Termination. The Executive agrees, in the event of any dispute under Section 8(a)(ii)(A)  as to whether a Disability exists, and if requested by the Employer, to submit to a physical examination by a licensed physician selected by mutual consent of the Employer and the Executive, the cost of such examination to be paid by the Employer. The written medical opinion of such physician shall be conclusive and binding upon each of the parties hereto as to whether a Disability exists and the date when such Disability arose. This Section shall be interpreted and applied so as to comply with the provisions of the Americans with Disabilities Act and any applicable state or local laws.

9.                                       Compensation Upon Termination .

(a)                                  Disability . If the Employer terminates the Executive’s employment during the Employment Period because of the Executive’s Disability pursuant to Section 8(a)(ii)(A) , the Employer shall pay to the Executive (i) the Accrued Benefits; and (ii) a pro rata portion (based on the number of days during the applicable fiscal period prior to the Date of Termination) of the Annual Bonus the Executive would have earned absent such termination, with such payment to be made based on actual performance and at the time bonus payments are made to executives of the Employer generally. In addition, any outstanding equity awards granted pursuant to Section 5(d)(i)-(ii)  that are subject solely to time-based vesting conditions shall immediately vest. The vesting, if any, upon termination as a result of the Executive’s Disability of any outstanding equity awards that are subject to performance-based vesting conditions shall be determined based on actual performance in the applicable fiscal period in which termination occurs, and the Executive will vest in any such awards to the extent performance metrics are

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ultimately achieved. Except as set forth herein, the Employer shall have no further obligation to the Executive under this Agreement.

(b)                                  Death . If the Executive’s employment is terminated during the Employment Period as a result of the Executive’s death, the Employer shall pay to the Executive’s legal representative or estate, and the Executive’s legal representative or estate shall be entitled to, as applicable, (i) the amounts set forth in Section 9(a) ; and (ii) one times the Executive’s Base Salary at the time of termination less amounts payable, if any, under any Company provided life insurance policy, payable in a lump sum. Except as set forth herein, the Employer shall have no further obligation to the Executive under this Agreement.

(c)                                   Termination by the Employer for Cause or by the Executive without Good Reason . If, during the Employment Period, the Employer terminates the Executive’s employment for Cause pursuant to Section 8(a)(ii)(B)  or the Executive terminates his employment without Good Reason, the Employer shall pay to the Executive the Accrued Benefits. Except as set forth herein, the Employer shall have no further obligations to the Executive under this Agreement.

(d)                                  Termination by the Employer without Cause or by the Executive with Good Reason . Subject to Section 9(e) , if the Employer terminates the Executive’s employment during the Employment Period for a reason other than for Cause or due to the Executive’s Disability pursuant to Section 8(a)(ii)(A)  or if the Executive terminates his employment hereunder with Good Reason, subject to the Executive’s compliance with Section 7 , (i) the Employer shall pay the Executive (A) the Accrued Benefits, (B) a pro rata portion (based on the number of days during the applicable fiscal period prior to the Date of Termination) of the Annual Bonus the Executive would have earned absent such termination, with such payment to be made based on actual performance and at the time bonus payments are made to executives of the Employer generally, and (C) continued Base Salary for 12 months following the Date of Termination (the “ Severance Period ”) payable in equal installments in accordance with the Employer’s normal payroll practices (the “ Cash Severance Payment ”); (ii) any unvested awards granted to the Executive under the Incentive Plan shall continue to vest during the Severance Period to the extent that such awards would have become vested had he remained employed through the end of the Severance Period; and (iii) the Executive shall be entitled to additional payments, payable in equal installments in accordance with the Employer’s normal payroll practices, equal to the total costs that would be incurred by the Executive to obtain and pay for continued coverage under the Employer’s health insurance plans during the Severance Period (the “ Continued Coverage Payment ”). For the purposes of this Agreement, a voluntary termination by the Executive upon the expiration of the Employment Period due to delivery of a non-renewal notice by the Employer pursuant to Section 2 shall be treated as a termination by the Employer without Cause.

(e)                                   Change in Control .

(i)                                      Section 9(e)(ii)  shall apply if there is (A) a termination of the Executive’s employment by the Employer for a reason other than for Cause or due to the Executive’s Disability or by the Executive for Good Reason, in either case, during the 12-month period after a Change in Control; or (B) a termination of the Executive’s employment by the Employer for a reason other than for Cause or due to the Executive’s Disability prior to a Change in Control, if the termination was at the request of a third party or otherwise arose in anticipation of a Change in Control (a termination described in either clause (A) or clause (B), a “ CIC Termination ”).

(ii)                                   If any such termination occurs, (A) the Executive shall receive benefits set forth in Section 9(d) , except that the Cash Severance Payment shall be equal to the sum of lx the Executive’s Base Salary at the time of termination and the Executive Target Bonus for the year of

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termination and, if such Change in Control is a “change in control event” under Section 409A of the Code (a “ Qualifying CIC ”), shall be paid in a lump sum, and (B) the Continued Coverage Payment shall be paid in a lump sum. In addition, any outstanding equity awards granted pursuant to Section 5(d)(i)-(ii)  that are subject solely to time-based vesting conditions shall immediately vest upon a CIC Termination. For the avoidance of doubt, the acceleration, if any, upon a CIC Termination of any outstanding equity awards that are subject to performance-based vesting conditions shall be governed by the terms and conditions of the applicable plan and the applicable award agreements. To the extent the Executive’s CIC Termination is described in Section 9(e)(i)(B)  and the Change in Control is a Qualifying CIC, the incremental Cash Severance Payment and any unpaid Cash Severance Payment shall be paid in a lump sum.

(f)                                    Liquidated Damages . The parties acknowledge and agree that damages which will result to the Executive for termination by the Employer of the Executive’s employment without Cause or by the Executive for Good Reason shall be extremely difficult or impossible to establish or prove, and agree that the amounts, excluding the Accrued Benefits, payable to the Executive under Section 9(d)  or Section 9(e)  (the “ Severance Benefits ”) shall constitute liquidated damages for any such termination. The Executive agrees that, except for such other payments and benefits to which the Executive may be entitled as expressly provided by the terms of this Agreement or any other applicable benefit plan, such liquidated damages shall be in lieu of all other claims that the Executive may make by reason of any such termination of his employment and that, as a condition to receiving the Severance Benefits, the Executive must execute a release of claims in a form to be provided by the Employer (the “ Release ”). To be eligible for Severance Benefits, the Executive must execute and deliver the Release, and such Release must become irrevocable, within 60 days of the Date of Termination. The Cash Severance Payment shall be made, and the continuing health insurance coverage shall commence, promptly after the Release becomes irrevocable; provided that to the extent the 60-day period spans two calendar years and to the extent required to comply with Code Section 409A, such payments shall be made or commence, as applicable, on the 60th day following the Date of Termination.

(g)                                   No Offset . In the event of termination of his employment, the Executive shall be under no obligation to seek other employment and there shall be no offset against amounts due to him on account of any remuneration or benefits provided by any subsequent employment he may obtain. The Employer’s obligation to make any payment pursuant to, and otherwise to perform its obligations under, this Agreement shall not be affected by any offset, counterclaim or other right that the Employer or any Employer Affiliate may have against him for any reason.

10.                                Section 280G .

(a)                                  Notwithstanding any other provision of this Agreement or any other plan, arrangement or agreement to the contrary, if any of the payments or benefits provided or to be provided by the Company or its affiliates to the Executive or for the Executive’s benefit pursuant to the terms of this Agreement or otherwise (“ Covered Payments ”) constitute “parachute payments”  within the meaning of Section 280G of the Code and would, but for this Section 10 be subject to the excise tax imposed under Section 4999 of the Code (or any successor provision thereto) or any similar tax imposed by state or local law or any interest or penalties with respect to such taxes (collectively, the “ Excise Tax ”), then prior to making the Covered Payments, a calculation shall be made comparing (i) the Net Benefit (as defined below) to the Executive of the Covered Payments after payment of the Excise Tax to (ii) the Net Benefit to the Executive if the Covered Payments are limited to the extent necessary to avoid being subject to the Excise Tax. Only if the amount calculated under (i) above is less than the amount under (ii) above will the Covered Payments be reduced to the minimum extent necessary to ensure that no portion of the Covered Payments is subject to the Excise Tax. “ Net Benefit ” shall mean the present value of the Covered Payments net of all federal, state, local, foreign income, employment and excise taxes.

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(b)                                  The Covered Payments shall be reduced in a manner that maximizes the Executive’s economic position. In applying this principle, the reduction shall be made in a manner consistent with the requirements of Section 409A of the Code, and where two economically equivalent amounts are subject to reduction but payable at different times, such amounts shall be reduced on a pro rata basis but not below zero.

(c)                                   Any determination required under this Section 10 shall be made in writing in good faith by an independent accounting firm selected by the Company that is reasonably acceptable to the Executive (the “ Accountants ”). The Company and the Executive shall provide the Accountants with such information and documents as the Accountants may reasonably request in order to make a determination under this Section 10 . For purposes of making the calculations and determinations required by this Section 10 , the Accountants may rely on reasonable, good faith assumptions and approximations concerning the application of Section 280G and Section 4999 of the Code. The Accountants’ determinations shall be final and binding on the Company and the Executive. The Executive shall be responsible for all fees and expenses incurred by the Accountants in connection with the calculations required by this Section 10 .

11.                                Notices . All notices, demands, requests, or other communications which may be or are required to be given or made by any party to any other party pursuant to this Agreement shall be in writing and shall be hand delivered, mailed by first-class registered or certified mail, return receipt requested, postage prepaid, delivered by overnight air courier, or transmitted by facsimile transmission addressed as follows:

(i)                                      If to the Employer:

President and Chief Executive Officer

Target Logistics Management, LLC

2170 Buckthorne Place, Suite 440

The Woodlands, TX 77380-1775

(ii)                                   If to the Executive:

Eric T. Kalamaras

Each party may designate by notice in writing a new address to which any notice, demand, request or communication may thereafter be so given, served or sent. Each notice, demand, request, or communication that shall be given or made in the manner described above shall be deemed sufficiently given or made for all purposes at such time as it is delivered to the addressee (with the return receipt, the delivery receipt, confirmation of facsimile transmission or the affidavit of messenger being deemed conclusive but not exclusive evidence of such delivery) or at such time as delivery is refused by the addressee upon presentation.

12.                                Severability . The invalidity or unenforceability of any one or more provisions of this Agreement shall not affect the validity or enforceability of the other provisions of this Agreement, which shall remain in full force and effect.

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13.                                Effect on Other Agreements . The provisions of this Agreement shall supersede the terms of any plan, policy, agreement, award or other arrangement (whether entered into before or after the date hereof) regarding the subject matter hereof.

14.                                Survival . It is the express intention and agreement of the parties hereto that the provisions of Sections 7 , 9 , 10 , 11 , 15 , 16 , 18 , 19 , 21 and 22 hereof and this Section 14 shall survive the termination of employment of the Executive. In addition, all obligations of the Employer to make payments hereunder shall survive any termination of this Agreement on the terms and conditions set forth herein.

15.                                Assignment . The rights and obligations of the parties to this Agreement shall not be assignable or delegable, except that (i) in the event of the Executive’s death, the personal representative or legatees or distributees of the Executive’s estate, as the case may be, shall have the right to receive any amount owing and unpaid to the Executive hereunder and (ii) the rights and obligations of the Employer hereunder shall be assignable and delegable in connection with any subsequent merger, consolidation, sale of all or substantially all of the assets or equity interests of the Employer or similar transaction involving the Employer or a successor corporation. The Employer shall require any successor to the Employer to expressly assume and agree to perform this Agreement in the same manner and to the same extent that the Employer would be required to perform it if no such succession had taken place.

16.                                Binding Effect . Subject to any provisions hereof restricting assignment, this Agreement shall be binding upon the parties hereto and shall inure to the benefit of the parties and their respective heirs, devisees, executors, administrators, legal representatives, successors and assigns.

17.                                Amendment; Waiver . This Agreement shall not be amended, altered or modified except by an instrument in writing duly executed by the party against whom enforcement is sought. Neither the waiver by either of the parties hereto of a breach of or a default under any of the provisions of this Agreement, nor the failure of either of the parties, on one or more occasions, to enforce any of the provisions of this Agreement or to exercise any right or privilege hereunder, shall thereafter be construed as a waiver of any subsequent breach or default of a similar nature, or as a waiver of any such provisions, rights or privileges hereunder.

18.                                Headings . Section and subsection headings contained in this Agreement are inserted for convenience of reference only, shall not be deemed to be a part of this Agreement for any purpose, and shall not in any way define or affect the meaning, construction or scope of any of the provisions hereof.

19.                                Governing Law . This Agreement, the rights and obligations of the parties hereto, and any claims or disputes relating thereto, shall be governed by and construed in accordance with the laws of the State of Texas (but not including any choice of law rule thereof that would cause the laws of another jurisdiction to apply).

20.                                Entire Agreement . This Agreement constitutes the entire agreement between the parties respecting the employment of the Executive, there being no representations, warranties or commitments except as set forth herein.

21.                                Counterparts . This Agreement may be executed in two counterparts, each of which shall be an original and all of which shall be deemed to constitute one and the same instrument.

22.                                Withholding . The Employer may withhold from any benefit payment under this Agreement all federal, state, city or other taxes as shall be required pursuant to any law or governmental regulation or ruling; provided that any withholding obligation arising in connection with the exercise of a

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stock option or the transfer of stock or other property shall be satisfied through withholding an appropriate number of shares of stock or appropriate amount of such other property.

23.                                Section 409A . The intent of the parties is that payments and benefits under this Agreement comply with Section 409A of the Code (“ Code Section 409A ”) and, accordingly, to the maximum extent permitted, this Agreement shall be interpreted to be in compliance therewith. If the Executive notifies the Employer (with specificity as to the reason therefor) that the Executive believes that any provision of this Agreement (or of any award of compensation, including equity compensation or benefits) would cause the Executive to incur any additional tax or interest under Code Section 409A and the Employer concurs with such belief or the Employer (without any obligation whatsoever to do so) independently makes such determination, the Employer shall, after consulting with the Executive, reform such provision to attempt to comply with Code Section 409A through good faith modifications to the minimum extent reasonably appropriate to conform with Code Section 409A. To the extent that any provision hereof is modified in order to comply with Code Section 409A, such modification shall be made in good faith and shall, to the maximum extent reasonably possible, maintain the original intent and economic benefit to the Executive and the Employer of the applicable provision without violating the provisions of Code Section 409A. In no event whatsoever shall the Employer be liable for any additional tax, interest or penalty that may be imposed on the Executive by Code Section 409A or damages for failing to comply with Code Section 409A. With respect to any payment or benefit considered to be nonqualified deferred compensation under Section 409A, a termination of employment shall not be deemed to have occurred for purposes of any provision of this Agreement providing for the payment of any amounts or benefits upon or following a termination of employment unless such termination is also a “separation from service” within the meaning of Code Section 409A and, for purposes of any such provision of this Agreement, references to a “termination,” “termination of employment” or like terms shall mean “separation from service” Notwithstanding anything to the contrary in this Agreement, if the Executive is deemed on the date of termination to be a “specified employee” within the meaning of that term under Code Section 409A(a)(2)(B), then with regard to any payment or the provision of any benefit that is considered nonqualified deferred compensation under Code Section 409A payable on account of a “separation from service,” such payment or benefit shall not be made or provided until the date which is the earlier of (A) the expiration of the six (6)-month period measured from the date of such “separation from service” of the Executive, and (B) the date of the Executive’s death, to the extent required under Code Section 409A. Upon the expiration of the foregoing delay period, all payments and benefits delayed pursuant to this Section 23 (whether they would have otherwise been payable in a single sum or in installments in the absence of such delay) shall be paid or reimbursed to the Executive in a lump sum, and any remaining payments and benefits due under this Agreement shall be paid or provided in accordance with the normal payment dates specified for them herein. To the extent that reimbursements or other in-kind benefits under this Agreement constitute “nonqualified deferred compensation” for purposes of Code Section 409A, (A) all expenses or other reimbursements hereunder shall be made on or prior to the last day of the taxable year following the taxable year in which such expenses were incurred by the Executive, (B) any right to reimbursement or in-kind benefits shall not be subject to liquidation or exchange for another benefit, and (C) no such reimbursement, expenses eligible for reimbursement, or in-kind benefits provided in any taxable year shall in any way affect the expenses eligible for reimbursement, or in-kind benefits to be provided, in any other taxable year. For purposes of Code Section 409A, the Executive’s right to receive any installment payments pursuant to this Agreement shall be treated as a right to receive a series of separate and distinct payments. Whenever a payment under this Agreement specifies a payment period with reference to a number of days, the actual date of payment within the specified period shall be within the sole discretion of the Employer. Notwithstanding any other provision of this Agreement to the contrary, in no event shall any payment under this Agreement that constitutes “nonqualified deferred compensation” for purposes of Code Section 409A be subject to offset by any other amount unless otherwise permitted by Code Section 409A.

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24.                                Indemnification . Employer hereby agrees to indemnify the Executive and provide directors and officers liability insurance coverage to the Executive, in each case, on terms and conditions no less favorable than those provided to members of the Board.

25.                                Definitions .

“ Accrued Benefits ” means (i) Base Salary through the Date of Termination; (ii) accrued and unused vacation pay; (iii) any earned but unpaid Annual Bonus; (iv) any amounts owing to the Executive for reimbursement of expenses properly incurred by the Executive prior to the Date of Termination and which are reimbursable in accordance with Section 6 ; and (v) any other benefits or amounts due and owing to the Executive under the terms of any plan, program or arrangement of the Employer. Amounts payable pursuant to the clauses (i) - (iii) shall be paid promptly after the Date of Termination and all other amounts will be paid in accordance with the terms of the applicable plan, program or arrangement (as modified by this Agreement).

“ Board ” means the Board of Directors of the Employer.

“ Cause ” shall be limited to the following events (i) the Executive’s conviction of, or plea of nolo contendere to, a felony (other than in connection with a traffic violation) under any state or federal law; (ii) the Executive’s failure to substantially perform his essential job functions hereunder after receipt of written notice from the Employer requesting such performance; (iii) a material act of fraud or material misconduct with respect, in each case, to the Employer, by the Executive; (iv) any material misconduct by the Executive that could be reasonably expected to damage the reputation or business of the Employer or any Employer Affiliate; or (v) the Executive’s material violation of a material policy of the Employer. As to clauses (i), (ii), (iii), (iv) or (v) of this paragraph, any determination of whether Cause exists shall be made by the Committee in its sole discretion. Anything herein to the contrary notwithstanding, the Executive shall not be terminated for Cause hereunder unless (A) written notice stating the basis for the termination is provided to the Executive, (B) as to clauses (ii), (iii), (iv) or (v) of this paragraph, the Executive is given 30 days to cure the neglect or conduct that is the basis of such claim (it being understood that any errors in expense reimbursement may be cured by repayment), and (C) if the Executive fails to cure such neglect or conduct, there is a vote of a majority of the members of the Board to terminate the Executive for Cause.

“ Change in Control ” shall have the meaning set forth in the Incentive Plan.

“ Code ” means the Internal Revenue Code of 1986, as amended, and the regulations and guidance promulgated thereunder.

“ Date of Termination ” means (i) if the Executive’s employment is terminated by the Executive’s death, the date of the Executive’s death; (ii) if the Executive’s employment is terminated because of the Executive’s Disability, 30 days after Notice of Termination, provided that the Executive shall not have returned to the performance of the Executive’s duties on a full- time basis during such 30-day period; or (iii) if the Executive’s employment is terminated by the Employer pursuant to Section 8(a)(ii)(B)  or by the Executive pursuant to Section 8(a)(iii) , the date specified in the Notice of Termination, which may not be less than 60 days after the Notice of Termination in the event the Employer is terminating the Executive without Cause or the Executive is terminating employment without Good Reason.

“ Employer Affiliate ” means any entity controlled by, in control of, or under common control with, the Employer.

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“ Employer Confidential Information ” means information known to the Executive to constitute trade secrets or proprietary information belonging to the Employer or other confidential financial information, operating budgets, strategic plans or research methods, personnel data, projects or plans, or non-public information regarding the terms of any existing or pending lending transaction between Employer and an existing or pending client or customer (as the phrase “client or customer” is defined in Section 7(d)(i)  hereof), in each case, received by the Executive in the course of his employment by the Employer or in connection with his duties with the Employer. Notwithstanding anything to the contrary contained herein, the general skills, knowledge and experience gained during the Executive’s employment with the Employer, information publicly available or generally known within the industry or trade in which the Employer competes and information or knowledge possessed by the Executive prior to his employment by the Employer, shall not be considered Employer Confidential Information.

“ Good Reason ” means, unless otherwise agreed to in writing by the Executive, (i) any material diminution or adverse change in the Executive’s titles; (ii) reduction in the Executive’s Base Salary or Target Bonus; (iii) a failure to grant the Executive, in any consecutive 12 month period, long term incentive equity awards having a grant date fair value (as determined by the Committee in good faith) of at least $600,000; (iv) a requirement that the Executive report to someone other than the Employer’s Chief Executive Officer; (v) a material diminution in the Executive’s authority, responsibilities or duties or material interference with the Executive’s carrying out his duties; (vi) the assignment of duties inconsistent with the Executive’s position or status with the Employer as of the Effective Date; or (vii) a relocation of the Executive’s primary place of employment to a location more than 50 miles from the Employer’s executive headquarters. In order to invoke a termination for Good Reason, (A) the Executive must give written notice of the occurrence of an event of Good Reason within 60 days of its occurrence, (B) the Employer must fail to cure such event within 30 days of such notice, and (C) the Executive must terminate employment within 30 days of the expiration of such cure period.

“ Incentive Plan ” means the Target Hospitality Corp. 2019 Incentive Award Plan.

“ Non-Compete Period ” means the period beginning on the Effective Date and ending twelve months after the earlier of the expiration of the Employment Period or the Executive’s Date of Termination.

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IN WITNESS WHEREOF, the undersigned have duly executed and delivered this Agreement, or have caused this Agreement to be duly executed and delivered on their behalf.