0000950123-11-024530 Sample Contracts

PERFORMANCE SHARE UNIT AWARD AGREEMENT
Performance Share Unit Award Agreement • March 11th, 2011 • Waste Management Inc • Refuse systems • Texas

This Performance Share Unit Award Agreement (“Agreement”) is entered into effective as of March 9, 2011, (the “Grant Date”), by and between Waste Management, Inc., a Delaware corporation (together with its Subsidiaries and Affiliates, the “Company”), and you, (the “Employee”), pursuant to the Waste Management, Inc. 2009 Stock Incentive Plan (the “Plan”). Employee and the Company agree to execute such further instruments and to take such further action as may reasonably be necessary to carry out the intent of this Agreement. The terms and conditions of this Agreement as offered herein must be accepted by Employee prior to April 8, 2011. Failure to timely accept the terms by such time will result in the immediate and irrevocable cancellation of the Award offered.

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STOCK OPTION AWARD AGREEMENT
Stock Option Award Agreement • March 11th, 2011 • Waste Management Inc • Refuse systems • Texas

This Stock Option Award Agreement (“Agreement”) is entered into effective as of March 9, 2011, (the “Grant Date”), by and between Waste Management, Inc., a Delaware corporation (together with its Subsidiaries and Affiliates, the “Company”), and you, (the “Employee”), pursuant to the Waste Management, Inc. 2009 Stock Incentive Plan (the “Plan”). Employee agrees that the terms and conditions of this Agreement will govern Employee’s rights with respect to the Award exclusively, notwithstanding any contrary provisions in any employment agreement or prior award. Employee and the Company agree to execute such further instruments and to take such further action as may reasonably be necessary to carry out the intent of this Agreement. The terms and conditions of this Agreement as offered herein must be accepted by Employee prior to April 8, 2011. Failure to timely accept the terms by such time will result in the immediate and irrevocable cancellation of the Award offered.

AMENDMENT TO EMPLOYMENT AGREEMENT
Employment Agreement • March 11th, 2011 • Waste Management Inc • Refuse systems

This Amendment to Employment Agreement (this “Amendment”) is entered into between Waste Management, Inc. (the “Company”) and Duane C. Woods (“Executive”), effective as of January 1, 2011.

AMENDMENT TO EMPLOYMENT AGREEMENT
Employment Agreement • March 11th, 2011 • Waste Management Inc • Refuse systems

This Amendment to Employment Agreement (this “Amendment”) is entered into between Waste Management, Inc. (the “Company”) and Jim Trevathan (“Executive”), effective as of January 1, 2011.

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