Consolidated Water Co. Ltd. Stock Option Grant Letter to J. Bruce Bugg Jr. (January 19, 2002)

Summary

Consolidated Water Co. Ltd. has granted J. Bruce Bugg Jr. an option to purchase 30,000 ordinary shares at $11.17 per share. This option can be exercised at any time until 4:30 p.m. Cayman time on December 10, 2004. The agreement confirms the board's prior resolution and notes that the terms will be recorded in the upcoming board meeting minutes. The letter expresses appreciation for Mr. Bugg's contributions to the company.

EX-10.23 4 g75127ex10-23.txt LETTER AGREEMENT Exhibit 10.23 January 19, 2002 VIA FAX: 1 ###-###-#### J. Bruce Bugg Jr., Vice Chairman, Consolidated Water Co. Ltd. Dear Bruce, Thank you for your fax of January 18, 2002. I am pleased to confirm that, in accordance with the resolution of the Board on May 22, 2001, on December 10, 2001, you were granted an option to purchase 30,000 Ordinary Shares of the Company at US$ 11.17 per share. The option may be exercised by you at any time up to 4:30 p.m. Cayman time on December 10, 2004. I would add that I have placed an item on the Agenda of the February 1, 2002 Board Meeting in order that these terms may be noted in the Minutes thereof. We appreciate your continuing efforts on behalf of the Company. Yours sincerely, CONSOLIDATED WATER CO. LTD. /s/ Jeffrey M. Parker Jeffrey M. Parker Chairman & C.E.O.