Document:

EX-10.2

 Exhibit 10.2 

AMENDMENT TO THE 
 GLOBAL
WATER RESOURCES, INC. 
 FIRST AMENDED AND RESTATED 

STOCK APPRECIATION RIGHTS PLAN 

Global Water Resources, Inc., a Delaware corporation (the “Corporation”), previously established the Global Water Resources,
Inc. Stock Appreciation Rights Plan, which was most recently amended and restated in its entirety effective as of March 23, 2015 (the “Plan”). The Corporation is being restructured by (i) being the surviving entity in a
merger with its largest stockholder, GWR Global Water Resources Corp., a British Columbia corporation traded on the Toronto Stock Exchange (“GWRC”), and (ii) undertaking a “going public” transaction resulting in the
Corporation’s shares of Common Stock being listed on NASDAQ. By adoption of this Amendment, the Corporation now desires to amend the Plan to reflect the merger with GWRC and its going public transaction, effective immediately prior to the date
such transactions close (the “Effective Date”), as set forth below. 
 1. This Amendment shall be effective as of the
Effective Date. 
 2. The second sentence of Section 1.1 (General Purpose) is hereby amended and restated as follows: 

The purposes of the Plan are to (a) enable the Company to attract and retain the types of Employee who will contribute to the long range
success of the Company; (b) provided incentive that align the interest of Employees with those of the shareholders of the Company; and (c) promote the success of the Company’s business. 

3. Section 5.4 of the Plan is hereby deleted in its entirety. 

4. The Glossary of the Plan is hereby amended by amending or inserting (as applicable) the following definitions: 

“Change in Control of the Company” means, a “change in the ownership or effective control of a corporation,” or a
“change in the ownership of a substantial portion of the assets of a 

 
corporation” within the meaning of Code Section 409A (treating the Company as the relevant corporation) provided, however, that for purposes of determining a “change in the
effective control,” “50 percent” shall be used instead of “30 percent” and for purposes of determining a “substantial portion of the assets of the corporation,” “85 percent” shall be used instead of
“40 percent.” Notwithstanding the foregoing, in the event of either (i) a merger, consolidation, reorganization, share exchange or other transaction as to which the holders of the capital stock of the Company before the transaction
continue after the transaction to hold, directly or indirectly through a holding company or otherwise, shares of capital stock of the Company (or other surviving company), as the case may be, representing more than fifty percent (50%) of the
value or ordinary voting power to elect directors of the capital stock of the Company (or other surviving company), or (ii) any initial public offering of the Company Common Stock shall not constitute a Change in Control of the Company. 

“Fair Market Value” means (i) means the closing sale price of one share of Stock as reported on the NASDAQ (or other
securities exchange or automated quotation system on which the shares of Stock are then listed, quoted or traded) on the date such value is determined or, if Stock is not traded on such date, on the first immediately preceding business day on which
Stock is so traded, or (ii) if the Company’s Stock is not traded on NASDAQ (or other securities exchange or automated quotation system on which the Stock is then listed, quoted or traded), the fair market value of Stock on a particular
date determined by the reasonable application of reasonable valuation methods or procedures as may be established from time to time by the Board. The Board shall use such procedures to determine fair market value in compliance with Section 409A
of the Code and the regulations issued thereunder. Notwithstanding anything in the Plan to the contrary, the Board may not delegate its authority to determine Market Value. 

“Stock” means the common stock of the Company. 

“NASDAQ” means the NASDAQ Stock Exchange. 

5. The Glossary of the Plan is hereby amended by deleting the definition of “GWRC”. 

6. This Amendment shall supersede the provisions of the Plan to the extent those provisions are inconsistent with the provisions and intent of
this Amendment. 

  
 2 

 IN WITNESS WHEREOF, the Corporation has caused this Amendment to be executed as of this 3rd day
of May, 2016. 
  

			
	Global Water Resources, Inc.
		
	By:	 	 /s/ Ron L. Fleming

	Its:	 	President and CEO

  
 3EX-10.3

 Exhibit 10.3 

AMENDMENT TO THE 
 GLOBAL
WATER RESOURCES, INC. 
 DEFERRED PHANTOM STOCK UNIT PLAN 

Global Water Resources, Inc., a Delaware corporation (the “Corporation”), previously established the Global Water Resources,
Inc. Deferred Phantom Stock Unit Plan dated as of January 1, 2011 (the “Plan”). The Corporation is being restructured by (i) being the surviving entity in a merger with its largest stockholder, GWR Global Water Resources
Corp., a British Columbia corporation traded on the Toronto Stock Exchange (“GWRC”), and (ii) undertaking a “going public” transaction resulting in the Corporation’s shares of Common Stock being listed on NASDAQ.
By adoption of this Amendment, the Corporation now desires to amend the Plan to reflect the merger with GWRC and its going public transaction, effective immediately prior to the date such transactions close (the “Effective Date”),
as set forth below. 
 1. This Amendment shall be effective as of the Effective Date. 

2. The following definitions in Section 1.1 (Definitions) are hereby amended and restated or inserted (as applicable) as follows:

 “Affiliate” means the Corporation and any other corporation or trade or business required to be aggregated with the
Corporation which constitutes a single employer under Code Section 414(b) or Code Section 414(c) with the Corporation, except that in applying Code Section 1563(a)(1), (2) and (3), the language “at least 50%” is used
instead of “at least 80%”; 
 “Eligible Director” means any member of the Corporation’s Board of Directors
who is also not a common law employee of the Corporation; 
 “Issuer” means the Corporation; 

“Market Value” means (i) means the closing sale price of one Common Share as reported on the NASDAQ (or other securities
exchange or automated quotation system on which the Common Shares are then listed, quoted or traded) on the date such value is determined or, if Common Shares are not traded on such date, on the first immediately preceding business day on which
Common 

 
Shares were so traded, or (ii) if the Corporation’s Common Shares are not traded on NASDAQ (or other securities exchange or automated quotation system on which the Common Shares are
then listed, quoted or traded), the fair market value of Common Shares on a particular date determined by the reasonable application of reasonable valuation methods or procedures as may be established from time to time by the Board. The Board shall
use such procedures to determine fair market value in compliance with Section 409A of the Code and the regulations issued thereunder. Notwithstanding anything in the Plan to the contrary, the Board may not delegate its authority to determine
Market Value; 
 “NASDAQ” means the NASDAQ Stock Exchange; 

“Redemption Date” with respect to a Participant who had a Separation Date, means such date as the Corporation determines which
shall be no later than 60 days after the Separation Date; 
 3. Section 1.1 (Definitions) is hereby amended
by deleting the definitions of “Redemption Notice” and of “TSX”.  
 4. The second sentence
in Section 3.2 (Grant Participants) is hereby amended and restated in its entirety as follows: 
 More specifically, the number
of Deferred Phantom Stock Units to be granted to an Eligible Director will be determined by dividing the Entitlement by the closing price for a Common Share on the NASDAQ on the business day immediately preceding the DSU Issue Date. 

5. Section 3.3 (Redemption Notice) is hereby deleted in its entirety. 

6. The Flush language in Section 5.1 (Amendment of Plan) shall be amended and restated as follows: 

shall only be effective upon such amendment, modification or change being approved by the Board, and, if required, by shareholders of the
Corporation if required by NASDAQ or any other regulatory authorities having jurisdiction over the Corporation. 

  
 2 

 7. Section 5.7 (Interpretation) shall be amended and restated as follows: 

This Plan shall be governed by and construed in accordance with the laws of the State of Delaware. 

8. This Amendment shall supersede the provisions of the Plan to the extent those provisions are inconsistent with the provisions and intent of
this Amendment. 
 IN WITNESS WHEREOF, the Corporation has caused this Amendment to be executed as of this 3rd day of May, 2016. 

 

			
	Global Water Resources, Inc.
		
	By:	 	 Ron L. Fleming

	Its:	 	President and CEO

  
 3EX-10.4

 Exhibit 10.4 

AMENDMENT TO THE 
 GLOBAL
WATER RESOURCES, INC. 
 PHANTOM STOCK UNIT PLAN 

Global Water Resources, Inc., a Delaware corporation (the “Corporation”), previously established the Global Water Resources,
Inc. Phantom Stock Unit Plan, which was most recently amended and restated in its entirety effective as of May 1, 2015 (the “Plan”). The Corporation is being restructured by (i) being the surviving entity in a merger with
its largest stockholder, GWR Global Water Resources Corp., a British Columbia corporation traded on the Toronto Stock Exchange (“GWRC”), and (ii) undertaking a “going public” transaction resulting in the
Corporation’s shares of Common Stock being listed on NASDAQ. By adoption of this Amendment, the Corporation now desires to amend the Plan to reflect the merger with GWRC and its going public transaction, effective immediately prior to the date
such transactions close (the “Effective Date”), as set forth below. 
 1. This Amendment shall be effective as of the
Effective Date. 
 2. Section 1.1 (Definitions) of the Plan is hereby amended by amending or inserting (as applicable) the
following definitions: 
 “Change in Control” means, a “change in the ownership or effective control of a
corporation,” or a “change in the ownership of a substantial portion of the assets of a corporation” within the meaning of Code Section 409A (treating the Corporation as the relevant corporation) provided, however, that for
purposes of determining a “change in the effective control,” “50 percent” shall be used instead of “30 percent” and for purposes of determining a “substantial portion of the assets of the corporation,”
“85 percent” shall be used instead of “40 percent.” Notwithstanding the foregoing, in the event of either (i) a merger, consolidation, reorganization, share exchange or other transaction as to which the holders of the
capital stock of the Corporation before the transaction continue after the transaction to hold, directly or indirectly through a holding company or otherwise, shares of capital stock of the Corporation (or other surviving company), as the case may
be, representing more than fifty 

 
percent (50%) of the value or ordinary voting power to elect directors of the capital stock of the Corporation (or other surviving company), or (ii) any initial public offering of the
Corporation’s Common Stock shall not constitute a Change of Control; 
 “Issuer” means the Corporation; 

“Market Value” means (i) means the closing sale price of one Common Share as reported on the NASDAQ (or other securities
exchange or automated quotation system on which the Common Shares are then listed, quoted or traded) on the date such value is determined or, if Common Shares are not traded on such date, on the first immediately preceding business day on which
Common Shares were so traded, or (ii) if the Corporation’s Common Shares are not traded on NASDAQ (or other securities exchange or automated quotation system on which the Common Shares are then listed, quoted or traded), the fair market
value of Common Shares on a particular date determined by the reasonable application of reasonable valuation methods or procedures as may be established from time to time by the Board. The Board shall use such procedures to determine fair market
value in compliance with Section 409A of the Code and the regulations issued thereunder. Notwithstanding anything in the Plan to the contrary, the Board may not delegate its authority to determine Market Value; 

“NASDAQ” means the NASDAQ Stock Exchange; 

3. Section 1.1 (Definitions) of the Plan is hereby amended by deleting the definition of “TSX”. 

4. Section 2.1 (Purpose of the Plan) of the Plan is hereby amended and restated as follows: 

2.1. Purpose of the Plan 

The purpose of this Plan is to strengthen the alignment of interests between Participants and the shareholders of the Corporation by linking
certain types of compensation to the future value of the Common Shares. In addition, this Plan has been adopted to advance the interests of the Corporation and its Affiliates through the motivation, attraction and retention of employees. It is
generally recognized that long term phantom equity plans aid in attracting, retaining and encouraging employees due to the 

  
 2 

 
opportunity offered to them to receive payment based on a proprietary interest in the Corporation. 

5. Section 5.4 (Rights as a Shareholder) of the Plan is hereby amended and restated as follows: 

5.4 Rights as a Shareholder 

No holder of any Deferred Phantom Stock Units or Phantom Stock Units shall have any rights as a shareholder of the Corporation or any Affiliate
at any time. 
 6. This Amendment shall supersede the provisions of the Plan to the extent those provisions are inconsistent with the
provisions and intent of this Amendment. 
 IN WITNESS WHEREOF, the Corporation has caused this Amendment to be executed as of this 3rd day
of May, 2016. 
  

			
	Global Water Resources, Inc.
		
	By:	 	 Ron L. Fleming

		 	Its: President and CEO

  
 3

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00257-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00257-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00257-of-00352.parquet"}]]