Document:

EX-10.19.2

 Exhibit 10.19.2 

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 share of Common Shares 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 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. 

  
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 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      day of
            , 2016. 
  

					
	Global Water Resources, Inc.
		
	By:	 	  

			
		 	Its:	 	  

  
 3EX-10.20.2

 Exhibit 10.20.2 

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 

  
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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 share of Common Shares 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 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 opportunity offered to them to receive payment based on a proprietary interest in the Corporation. 

  
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 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
    day of             , 2016. 
  

									
	Global Water Resources, Inc.
		
	 By:
	 	  

					
		 	Its:	 		 	  
	 	

  
 3EX-10.21.2

 Exhibit 10.21.2 

AMENDMENT TO THE 
 GWR
GLOBAL WATER RESOURCES CORP. 
 DEFERRED PHANTOM STOCK UNIT PLAN 

GWR Global Water Resources Corp., a British Columbia corporation (“GWRC”), previously established the Global Water Resources
Corp. Deferred Phantom Stock Unit Plan dated as of January 1, 2011 (the “Plan”). GWRC is being restructured by being merged with and into Global Water Resources, Inc., a Delaware corporation (the
“Corporation”), the surviving entity, which will simultaneously undertake a “going public” transaction that will result in the Corporation’s shares of Common Stock being listed on NASDAQ. By adoption of this
Amendment, GWRC now desires to amend the Plan to reflect the merger with the Corporation (which will assume the Plan in connection with the merger) and the Corporation’s 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%”; 
 “Corporation” means Global Water Resources, Inc., a Delaware corporation
(and, for the sake of clarity, references to “GWRI” shall also refer to the Corporation); 
 “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 share of
Common Shares 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 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 “Act”, “Redemption Notice” and “TSX”. 
 4. Section 1.5 (Canadian
Funds) is hereby deleted in its entirety. 
 5. 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. 

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

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

  
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 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. 

8. 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. 

9. 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      day of
            , 2016. 
  

							
	GWR Global Water Resources Corp.	 	
		
	By:	 	  

				
		 	Its:	 	  
	 	        

  
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