SETTLEMENT AGREEMENT AND RELEASESettlement Agreement • November 19th, 2019 • Energy Recovery, Inc. • Special industry machinery, nec • California
This Settlement Agreement and Release (hereinafter “Release”) is freely entered into by Chris Gannon (“Gannon”) and Energy Recovery, Inc. (“Company”). Although Gannon is not entitled to severance under his May 4, 2018 Offer of Promotion “in the event that you voluntarily resign (other than under the circumstances described in the Change in Control Severance Plan) or are terminated by ERI for Cause”, Gannon and the Company wish to enter into this Release in exchange for the commitments set forth below following Gannon's voluntary resignation effective, November 1, 2019.
