Summary of Non-Employee Director Compensation for CSI Compressco GP Inc. (Effective January 1, 2015)

Contract Categories: Human Resources › Compensation Agreements
Summary

This document outlines the compensation for non-employee directors of CSI Compressco GP Inc. as of January 1, 2015. Non-employee directors receive $60,000 per year in phantom unit awards and $15,000 per year in cash, both paid for board service. Additional phantom unit awards are given to chairmen of the Conflicts Committee ($5,000) and Audit Committee ($10,000). Compensation is prorated for new directors or new chair appointments. Directors who are employees of the company or its affiliates do not receive this compensation. All non-employee directors are reimbursed for travel expenses related to board duties.

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EX-10.8 2 cclp20141231ex108.htm EXHIBIT 10.8 cclp 2014.12.31 EX 10.8


EXHIBIT 10.8

Summary Description of the Compensation of
Non-Employee Directors of CSI Compressco GP Inc.

As of January 1, 2015, each director who is not an employee of CSI Compressco GP Inc., TETRA Technologies, Inc., or any of its subsidiaries (Non-Employee Directors), receives non-cash compensation of $60,000 per year and cash director fees in the amount of $15,000 per year, paid quarterly, for attending regularly scheduled board meetings. The non-cash compensation is paid for the upcoming service year in the form of phantom unit awards that have an intended value of $60,000, prorated for any newly elected Non-Employee Director to such director's date of election. Non-Employee Directors who are appointed as the chairmen of our Conflicts Committee and Audit Committee receive additional compensation of $5,000 and $10,000 per year, respectively, prorated from their respective dates of appointment, which is also paid in the form of phantom unit awards. All such awards of phantom units are granted under the CSI Compressco LP Amended and Restated 2011 Long Term Incentive Plan.
 
Directors who are also our officers or employees, or officers or employees of TETRA, do not receive any compensation for duties performed as our directors.

All Non-Employee Directors are reimbursed for out-of-pocket travel expenses incurred in attending meetings of the Board of Directors and committees.