Exhibit 10.7.2
AMENDMENT TO EXECUTIVE EMPLOYEE AGREEMENT
This Amendment (this Amendment) to the Executive Employment Agreement, dated March 1, 2006,
and as amended by that certain amendment made as of January 1, 2008, is made as of May 28, 2008
(Amendment Effective Date) by and between Energy Recovery Inc., a Delaware corporation, with its
principal offices at 1908 Doolittle Drive, San Leandro, CA 94577 (the Company) and G.G. Pique,
an individual (the Executive) (together, the Parties).
Pursuant to Article 5.11 of the Executive Employment Agreement, the parties hereby amend the
Executive Employment Agreement as follows:
Article 2.1(b)(iii). The Parties hereby add Article 2.1(b)(iii) as follows:
(iii) Notwithstanding Article 2.1(b)(ii) to the contrary, however, in the event that
the scheduled IPO is not consummated through no fault of the Executive, as determined by the
Board (with the recusal by the Executive from such Board determination, as necessary) in
good faith, all of the Executives stock options granted under Executives 2006 Equity
Compensation Grant pursuant to Article 2.1(c) of Executives Executive Employment Agreement
shall immediately and fully vest effective as of December 31, 2008.
All other terms contained in the Executive Employment Agreement shall continue in full force and
effect.
WITNESS, the execution of this Amendment as of the date first above written.
|
|
|
|
|
|
|
|
|
|
|
Employee |
|
|
|
Company |
|
|
|
|
|
|
|
|
|
|
|
|
|
By:
|
|
/s/ G.G. Pique |
|
|
|
By: |
|
/s/ Hans Peter Michelet |
|
|
|
|
G.G. Pique
|
|
|
|
|
|
Title: Company Representative
|
|
|
May 28, 2008