Summary Description of Named Executive Officer Compensation for TETRA Technologies, Inc.
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Summary
TETRA Technologies, Inc. approved salary increases for its named executive officers, effective January 2, 2012. The officers include the President and CEO, Senior Vice President and CFO, and two other Senior Vice Presidents. Each officer has an at-will employment agreement, meaning employment can be ended at any time, and compensation or benefits are not guaranteed. The officers are also eligible for the company’s standard incentive programs and employee benefits, such as insurance, retirement plans, and paid leave.
EX-10.11 3 ex10_11.htm EXHIBIT 10.11 ex10_11.htm
Exhibit 10.11
Summary Description of
Named Executive Officer Compensation
On December 14, 2011, 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 2011 proxy statement, to be effective as of January 2, 2012:
| Named Executive Officer | Title | Prior Base Salary | Base Salary as of January 2, 2012 |
| Stuart M. Brightman | President and Chief Executive Officer | $535,000 | $568,000 |
| Joseph M. Abell | Senior Vice President and Chief Financial Officer | $300,000 | $312,000 |
| Edwin H. Goldman | Senior Vice President | $342,000 | $356,000 |
| Philip N. Longorio | Senior Vice President | $342,000 | $356,000 |
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.
