exhibit 10. 47 1200 west sam houston pkwy. n. houston, tx 77043 tel : 713 # # # - # # # - # # # # fax : 713 # # # - # # # - # # # # february 5, 2007 to : jean - francois chevrier from : vincent r. volpe jr. cc : elizabeth c. powers dider langree amber j. macksey subject : assignment to olean, new york dear j - f, this letter confirms our mutual agreement of the terms and conditions for your assignment to olean, new york in the position of vice president and general manager north american operations effective january 1, 2007. in this role you will report directly to me. as agreed, your assignment is intended to last for up to 2 years and will be completed no later than december 31, 2008. this agreement is effective only after you sign and return the attached copy of this letter acknowledging your acceptance and understanding of the provisions contained in this document. compensation your annual base salary will be 205, 062 euro per year and will be paid to you from the dresser - rand lehavre office. you will continue to be eligible for merit increases during your assignment. such consideration will occur in line with the timing and process for other members of the ceo staff. bonus you will continue to participate in the aim program at your current target level of 50 %. the terms of the aim plan will be applied in accordance with the plan document. as always, actual awards earned under the plan are dependent upon company and individual performance. housing & utilities you will be reimbursed for your housing and utility costs in olean. furnishings should you be unable to secure furnished housing, the company will provide you with an allowance to purchase furnishings for your personal use during the assignment. the company will reimburse up to a maximum of 20, 000 us $ for these items. this reimbursement allowance is intended to cover the cost of the majority of the basic furnishings, appliances and incidental household items you will require while in olean. exhibit 10. 47 1200 west sam houston pkwy. n. houston, tx 77043 tel : 713 # # # - # # # - # # # # fax : 713 # # # - # # # - # # # # february 5, 2007 to : jean - francois chevrier from : vincent r. volpe jr. cc : elizabeth