Sure. On the user task, instead of having buttons for Approve/Reject, you can just have one button for Acknowledge. The user task would be sent to the employee, they would click acknowledge, and it could go back to the manager. 

Do you need to add handling for if the employee thinks there is an error? In that case, I would still have two buttons, one for acknowledge/approve, and the other for Request changes. Request changes could allow for the employee to ask for more hardware/software... whatever but the acknowledge says they are good with the proposal. Either way, should be straightforward in the process designer. 

The option above is good if you want the employee to actually have to click "Acknowledge" or "Approve". If you just want them to get a copy, you can just email them the form and have the manager move forward with it. That wouldn't require the employee to click anything as they would just be sent an email as an FYI.