ENER Accretion Acquisition Corporation

FORM 8-K

CURRENT REPORT

Check the appropriate box below if the Form 8-K is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provision (see General Instruction A.2 below):

Item 5.02           Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers;

            Compensatory Arrangements of Certain Officers

Change in Chief Financial Officer.

On August 26, 2008, the Board of Directors of ECD appointed Harry W. Zike Vice President and Chief Financial Officer, effective September 1, 2008. Mr. Zike joined the Company on July 21, 2008 to succeed Mr. Kumar as Chief Financial Officer.

Mr. Zike’s employment by ECD is at will. Mr. Zike will receive an annual base salary of $320,000 and standard ECD benefits, and is eligible to participate in the Company’s annual incentive and long-term incentive plans. Upon joining the Company on July 21, 2008, Mr. Zike received a signing bonus of $15,000 and was granted stock options to purchase 10,000 shares of ECD common stock under the Company’s 2006 Stock Incentive Plan. The exercise price for the stock options is $67.68, which was the closing price for ECD’s common stock on the date of grant. The stock options expire on June 30, 2018 and vest over four years, with 0 options vesting on July 21, 2009, 3,333 options vesting on each of July 21, 2010 and 2011, and 3,334 options vesting on July 21, 2012, provided that Mr. Zike remains in the Company’s employ as of the vesting date.

In connection with his employment, Mr. Zike became a participant in the Company’s Executive Severance Plan (the “Severance Plan”) pursuant to which he will be eligible to receive the severance benefits described in the Severance Plan in the event of a “Qualifying Termination” (as defined under the Severance Plan) with a Severance Coverage Period (as defined under the Severance Plan) of 12 months. Under the terms of his Participant Agreement which is in the Company’s standard form, Mr. Zike has agreed to certain restrictive covenants, including matters pertaining to confidentiality, non-competition, non-solicitation and non-disparagement covenants. A copy of the Offer Letter between Mr. Zike and the Company is attached as Exhibit 10.1.

Mr. Zike, 53, was Executive Vice President, Chief Financial Officer and Director of Siemens VDO Automotive Corporation’s Americas Region and its successor, Continental Automotive Systems, Inc., from February 2006 to January 2008. From October 1998 to January 2006, Mr. Zike was Executive Vice President, Chief Financial Officer and Director of Siemens Power Generation, Inc.

On July 29, 2008, ECD announced the resignation of Sanjeev Kumar as ECD’s Vice President and Chief Financial Officer, effective August 31, 2008, to pursue other opportunities. In connection with Mr. Kumar’s departure from the Company, Mr. Kumar and the Company entered into an agreement captioned Revised Separation Agreement and Complete Release of Liability (“Separation Agreement”). The Separation Agreement provides that Mr. Kumar will receive 52 weeks of base pay totaling $300,000, an Annual Incentive Plan (“AIP”) payment for the fiscal year ended June 30, 2008 totaling $225,000, and remain eligible to receive his 2009 and 2010 AIP awards if and when paid to other participants in a total amount of $175,000, and continuation of company paid-premiums for Mr. Kumar’s medical and dental insurance under the Company’s group plans. Mr. Kumar will also receive payment in lieu of accrued and unused vacation, and certain other employee benefits as well as outplacement services provided through no later than December 31, 2009. In consideration for the revised severance benefits under the

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