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Exhibit 10.1
THIRD AMENDMENT OF ENGAGEMENT
AGREEMENT
THIS AGREEMENT
is made this 9th day of September 2009
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BETWEEN:
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CONSOLIDATED
WATER CO. LTD.
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A Cayman
Islands company having its registered office at
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Regatta Office
Park, West Bay Road
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P.O. Box
1114
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Grand Cayman
KY1-1102
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Cayman
Islands
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(the
“Company”)
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AND:
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FREDERICK W.
MCTAGGART
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of 11 Doubloon
Drive
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P.O. Box
321
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Grand Cayman
KY1-1502
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Cayman
Islands
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(the
“President”)
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WHEREAS:
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The Company and
the President (together, the “Parties”) entered into an
engagement agreement dated the 5 th of
December 2003 (the “Engagement Agreement”).
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The Parties
amended the Engagement Agreement pursuant to the First Amendment of
Engagement Agreement dated 14 th September 2007 and the Second Amendment of
Engagement Agreement dated 30 June 2008.
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The Parties are
desirous of amending the Engagement Agreement in accordance with
the terms of the Agreement.
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NOW IN
CONSIDERATION of the mutual covenants contained herein the Parties
agree that the Engagement Agreement as amended shall be further
amended as follows:
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Clause 6 shall
be deleted and the following substituted in its place:
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“Further,
for each completed fiscal year beginning with the fiscal year 2009
the President will be paid a bonus consisting of the following
components:
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Annual
Bonus : An amount not to
exceed 100% of the remu
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