EXHIBIT 10.21
SECOND AMENDMENT OF EMPLOYMENT CONTRACT
THIS AGREEMENT is made this 5th day of December 2003
BETWEEN: CONSOLIDATED WATER CO. LTD., a Cayman Islands company having
its registered office at Trafalgar Place, West Bay Road, P.O.
Box 1114 GT, Grand Cayman, BWI ("the Company")
AND: XXXXXXX X. XXXXXXXXX of 422 Ocean Club, P.O. Box 30984 SMB,
Grand Cayman, BWI ("the Vice President")
WHEREAS:
A. The Company and the Vice President entered into an employment
contract dated the 19th of August 1998, which was amended by
amendment of the employment contract dated the 7th of April
2000 ("the Employment Contract")
B. The parties are now desirous of amending the same, in
accordance with the terms of this Agreement, in order to
change the date on which the exercise price of options to
purchase Ordinary Shares granted to the Vice President is
established.
NOW IN CONSIDERATION of the mutual covenants contained herein the parties agreed
that the Employment Contract shall be amended and/or rectified as follows:
1. Clause 4 (c) of the First Amendment of the Employment
Contract shall be amended as follows;
Delete the words "average of the closing market price of the
Company's Ordinary shares on each of the first seven trading
days in the month of October of that financial year" and
substitute "closing price of the Company's Ordinary shares on
the 31st of December of the relevant financial year".
THE PARTIES HERETO have set their hands and seals the day and date first above
written.
SIGNED AND SEALED in the presence of: ) CONSOLIDATED WATER CO. LTD.
)
)
) /s/ Xxxxxxxxx XxXxxxxxx
) -------------------------------
/s/ Xxxxx Santa ) Xxxxxxxxx XxXxxxxxx
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witness
Xxxxx Xxxxxx
SIGNED AND SEALED in the presence of: )
)
)
)
)
/s/ Xxxxx Xxxxxx ) /s/ Xxxxxxx XxXxxxxxx
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witness Xxxxxxx X. XxXxxxxxx
Xxxxx Xxxxxx
