Item 1.01 Entry into a Material Definitive Agreement.
As previously announced on a Current Report on Form 8-K filed onOctober 19, 2015 (the "Original Report"), onOctober 14, 2015 ,Energy Recovery Inc. through its subsidiaryERI Energy Recovery Ireland Ltd. (collectively, the "Company"), entered into a License Agreement (the "Agreement") withSchlumberger Technology Corporation , a subsidiary of Schlumberger Limited (collectively, "Schlumberger", and together with the Company, the "Parties"), for the exclusive right to use certain intellectual property related to the Company's VorTeq™ technology. The Company is filing this amendment to the Original Report to disclose that onJune 24, 2020 , the Parties announced that they have agreed to terminate the Agreement and have entered into a Termination Agreement and Release (the "Termination Agreement"), effectiveJune 1, 2020 (the "Termination Effective Date"), pursuant to which Schlumberger will cease the use of the Company's intellectual property related to the Company's VorTeq™ technology, and will owe no further payments to the Company including any fees or royalties incurred from the Termination Effective Date. The foregoing description of the Termination Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Termination Agreement. A copy of the Termination Agreement is filed with this Amendment to Current Report on Form 8-K as Exhibit 10.1 and is incorporated herein by reference.
Item 1.02 Termination of a Material Definitive Agreement.
The information set forth in Item 1.01 regarding the Agreement is incorporated by reference into this Item 1.02.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits Exhibit Number Description 10.1 Termination Agreement and Release, dated as ofJune 24, 2020 , by and betweenERI Energy Recovery Ireland Ltd. a
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Corporation. 99.1 Press Release datedJune 29, 2020 .
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