Summary Description of Named Executive Officer Compensation for TETRA Technologies, Inc.
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Summary
TETRA Technologies, Inc. has approved salary increases for its named executive officers, effective around April 1, 2014. The officers affected include the President and CEO, Senior Vice President and CFO, and two other Senior Vice Presidents. Each executive has an at-will employment agreement, meaning their employment and compensation are not guaranteed and remain at the discretion of the Board. They are also eligible for the company's standard employee benefits and incentive programs.
EX-10.11 3 a20131231ex1011.htm EXHIBIT 10.11 2013.12.31 EX 10.11
EXHIBIT 10.11
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. (the Company) approved increases in annual base salary levels for certain of the Company’s current officers who were identified as named executive officers in the Company’s 2012 proxy statement. 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 |
Stuart M. Brightman | President and Chief Executive Officer | $602,000 | $625,000 |
Elijio V. Serrano | Senior Vice President and Chief Financial Officer | $392,000 | $411,600 |
Edwin H. Goldman | Senior Vice President | $370,000 | $384,800 |
Peter J. Pintar | Senior Vice President Corp. Strategy and Development | $356,000 | $370,240 |
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 of TETRA’s employees. 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 entirely at the discretion of the Board of Directors. Each named executive officer is eligible to participate in TETRA’s incentive programs generally available to its salaried employees, including health, life, disability and other insurance and benefits, 401(k) Plan, Nonqualified Deferred Compensation Plan, and vacation, paid sick leave, and other employee benefits.
