Description of Modification to Annual Non-Employee Director Stock Grants
Exhibit 10.2
Description of Modification to
Annual Non-Employee Director Stock Grants
In March 2014, the Compensation Committee of the Board of Directors of CARBO Ceramics Inc. (the Company) approved a change in the calculation of the number of shares of the Companys common stock to be made each year on the first business day after the date of the Companys Annual Meeting of Stockholders to each non-employee Director of the Company serving as such on such date (each, an Annual Director Stock Grant). Beginning with the 2014 Annual Director Stock Grant, the number of shares granted will be determined by dividing One Hundred Thousand Dollars ($100,000) by the closing price for the Companys Common Stock on the grant date. All other terms of the Annual Director Stock Grants, as established in May 2010, remain unchanged.