Summary of Executive Officer Compensation Adjustments for TETRA Technologies, Inc. (2011)
Contract Categories:
Human Resources
›
Compensation Agreements
Summary
TETRA Technologies, Inc. increased the annual base salaries of its named executive officers, effective January 3, 2011, as approved by the Management and Compensation Committee. The officers include the President and CEO, CFO, Senior Vice Presidents, and General Counsel. Each executive has an at-will employment agreement, meaning employment terms can be changed or ended at any time by the company. The executives are also eligible for standard company benefits and incentive programs available to all salaried employees.
EX-10.12 3 ex10_12.htm EXHIBIT 10.12 ex10_12.htm
Exhibit 10.12
Summary Description of
Named Executive Officer Compensation
On December 13, 2010, 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 2010 proxy statement, to be effective as of January 3, 2011:
| Named Executive Officer | Title | Prior Base Salary | Base Salary as of January 3, 2011 |
| Stuart M. Brightman | President and Chief Executive Officer | $500,000 | $535,000 |
| Joseph M. Abell | Senior Vice President and Chief Financial Officer | $285,000 | $300,000 |
| Philip N. Longorio | Senior Vice President | $325,000 | $342,000 |
| Edwin H. Goldman | Senior Vice President | $325,000 | $342,000 |
| Bass C. Wallace, Jr. | General Counsel and Corporate Secretary | $260,000 | $274,000 |
Each of the 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.
