Summary Description of Named Executive Officer Compensation
EX-10.9 3 gsjk20131231ex109.htm EXHIBIT 10.9 gsjk 2013.12.31 EX 10.9
EXHIBIT 10.9
Summary Description of
Named Executive Officer Compensation
On February 20, 2014, the Management and Compensation Committee of the Board of Directors of TETRA Technologies, Inc., which is responsible for compensation decisions relating to named executive officers of Compressco Partners GP Inc., approved the following increases in annual base salary levels for our current officers who are identified as named executive officers in this Annual Report on Form 10-K. It is expected that such increases will be made effective on or about April 1, 2014:
Named Executive Officer | Title | Prior Base Salary | Increased Base Salary |
Ronald J. Foster | President | $286,000 | $297,440 |
James P. Rounsavall | Chief Financial Officer | 198,900 | 206,856 |
Kevin W. Book | Vice President of International Operations | 213,200 | 221,728 |
Sheri J. Vanhooser | Vice President of Sales and Business Development | 160,000 | 166,400 |
Each of the above named executive officers has entered into an employment agreement in a form substantially identical to the form of agreement executed by all employees of Compressco Partners GP Inc. Each agreement evidences the at-will nature of employment and does not set forth or guarantee the term of employment, salary, or other incentives, all of which are at the discretion of the Board of Directors of Compressco Partners GP Inc. or the Management and Compensation Committee of the Board of Directors of TETRA Technologies, Inc. Each named executive officer is eligible to participate in incentive programs generally available to salaried employees of Compressco Partners GP Inc., including health, life, disability and other insurance and benefits, 401(k) Plan, and vacation, paid sick leave, and other employee benefits.
