0000844965-14-000062.txt : 20140624 0000844965-14-000062.hdr.sgml : 20140624 20140616151034 ACCESSION NUMBER: 0000844965-14-000062 CONFORMED SUBMISSION TYPE: S-8 PUBLIC DOCUMENT COUNT: 5 FILED AS OF DATE: 20140616 DATE AS OF CHANGE: 20140616 EFFECTIVENESS DATE: 20140616 FILER: COMPANY DATA: COMPANY CONFORMED NAME: TETRA TECHNOLOGIES INC CENTRAL INDEX KEY: 0000844965 STANDARD INDUSTRIAL CLASSIFICATION: CRUDE PETROLEUM & NATURAL GAS [1311] IRS NUMBER: 742148293 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: S-8 SEC ACT: 1933 Act SEC FILE NUMBER: 333-196796 FILM NUMBER: 14922624 BUSINESS ADDRESS: STREET 1: 24955 INTERSTATE 45 NORTH CITY: THE WOODLANDS STATE: TX ZIP: 77380 BUSINESS PHONE: 2813671983 MAIL ADDRESS: STREET 1: 24955 INTERSTATE 45 NORTH CITY: THE WOODLANDS STATE: TX ZIP: 77380 S-8 1 ttis8-20140616.htm S-8 ttis8-20140616


As filed with the Securities and Exchange Commission on June 16, 2014
Registration No. ______


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549


FORM S-8
REGISTRATION STATEMENT UNDER
THE SECURITIES ACT OF 1933

TETRA TECHNOLOGIES, INC.
(Exact name of Registrant as specified in its charter)
Delaware
74-2148293
(State or other jurisdiction
(I.R.S. Employer
of incorporation or organization)
Identification No.)
 
 
24955 Interstate 45 North
 
The Woodlands, Texas
77380
(Address of Principal Executive Offices)
(Zip Code)

EMPLOYEE RESTRICTED STOCK AWARD AGREEMENT
WITH JOSEPH ELKHOURY
(Full Title of the Plan)

Bass C. Wallace, Jr.
Sr. Vice President and General Counsel
24955 Interstate 45 North
The Woodlands, Texas 77380
(Name and address of agent for service)

(281) 367-1983
(Telephone number, including area code,
of agent for service)

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer,” and “smaller reporting company” in Rule 12b-2 of the Exchange Act. (Check One):
Large Accelerated Filer [ X ]
Accelerated Filer [ ]
Non-Accelerated Filer [ ] (Do not check if a smaller reporting company)
Smaller Reporting Company [ ]

CALCULATION OF REGISTRATION FEE
Title of securities
to be registered
Amount to be
registered(1)
Proposed maximum
offering price
per share(2)
Proposed maximum
aggregate offering
price(2)
Amount of
registration fee
Common Stock, par value $0.01 per share
232,302 shares
$11.72
$2,722,580
$350.67
(1) Pursuant to Rule 416(a) under the Securities Act of 1933, as amended, the number of shares of common stock registered herein includes an indeterminate number of additional shares that may be issued with respect to the securities registered hereunder by reason of stock dividends, spin-offs, extraordinary dividends, stock splits, combinations of shares, recapitalizations, mergers, consolidations, reorganizations or similar transactions.
(2) Estimated solely for the purpose of determining the amount of the registration fee in accordance with Rule 457(c) and (h) under the Securities Act of 1933, as amended and based upon the average of the high and low sales prices of the Registrant’s common stock on the New York Stock Exchange on June 12, 2014.




EXPLANATORY NOTE

TETRA Technologies, Inc. (the “Company”) is expected to enter into an Employee Restricted Stock Award Agreement (the “Award Agreement”) with Joseph Elkhoury as a material inducement to his employment with the Company. Pursuant to the Award Agreement, 232,302 shares (the “Inducement Shares”) of the Company’s common stock, par value $0.01 per share (the “Common Stock”), may be issued to Mr. Elkhoury. This Registration Statement on Form S-8 is filed with respect to the Inducement Shares as well as shares of Common Stock that may be issued as a result of stock dividends, spin-offs, extraordinary dividends, stock splits, combinations of shares, recapitalizations, mergers, consolidations, reorganizations or similar transactions.

PART I

INFORMATION REQUIRED IN SECTION 10(a) PROSPECTUS

The document(s) containing the information specified in Part I of Form S-8 will be sent or given to participants in the Plan listed on the cover of this registration statement (the “Registration Statement”) as specified by Rule 428(b)(1) under the Securities Act of 1933, as amended, (the “Securities Act”). In accordance with Rule 428 and the requirements of Part I of Form S-8, such documents are not being filed with the Securities and Exchange Commission either as part of this Registration Statement or as prospectuses or prospectus supplements pursuant to Rule 424 under the Securities Act. These documents and the documents incorporated herein by reference pursuant to Item 3 of Part II of this Registration Statement, taken together, constitute a prospectus that meets the requirements of Section 10(a) of the Securities Act.
  
PART II

INFORMATION REQUIRED IN THE REGISTRATION STATEMENT

Item 3. INCORPORATION OF DOCUMENTS BY REFERENCE

The following documents, which have been previously filed by the Company with the Securities and Exchange Commission (the “SEC”), are incorporated by reference into this Registration Statement, other than any portions of the respective filings that were furnished rather than filed (pursuant to Item 2.02 or Item 7.01 of any Current Report on Form 8-K or other applicable SEC rules):

(a)     The Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2013 as filed with the SEC on March 3, 2014 (File No. 001-13455);

(b)    The Company’s Quarterly Report on Form 10‑Q for the quarterly period ended March 31, 2014, filed by the Company with the SEC on May 9, 2014 (File No. 001‑13455);     
(c)    The Company’s Current Reports on Form 8-K as filed by the Company with the SEC on January 16, 2014 (as amended by the Current Report on Form 8-K/A filed with the SEC on May 9, 2014), February 5, 2014, May 9, 2014, and June 5, 2014 (File No. 001-13455); and

(d)    The description of the Company’s common stock, par value $0.01 per share, contained in the Registration Statement on Form 8-A filed with the SEC on October 7, 1997 (File No. 001-13455), including any amendments and reports filed for the purpose of updating such description.

All documents filed by the Company pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), (excluding any information furnished pursuant to Item 2.02 or Item 7.01 on any Current Report on Form 8-K or other applicable SEC rules) subsequent to the date of this Registration Statement and prior to the filing of a post-effective amendment which indicates that all securities offered hereby have been sold or which deregisters all securities remaining unsold, shall be deemed to be incorporated by reference herein and to be a part hereof from the date of the filing of such documents.

1




Any statement contained in a document incorporated or deemed incorporated by reference in this Registration Statement shall be deemed to be modified or superseded for purposes of this Registration Statement to the extent that a statement contained in this Registration Statement or in any other subsequently filed document which also is incorporated or deemed to be incorporated by reference in this Registration Statement modifies or supersedes such statement. Any such statement so modified or superseded shall not be deemed, except as modified or superseded, to constitute a part of this Registration Statement.

Item 4. DESCRIPTION OF SECURITIES

Not applicable.

Item 5. INTERESTS OF NAMED EXPERTS AND COUNSEL

Not applicable.

Item 6. INDEMNIFICATION OF DIRECTORS AND OFFICERS

Subsection (a) of Section 145 of the General Corporation Law of the State of Delaware (the “DGCL”) empowers a corporation to indemnify any person who was or is a party or is threatened to be made a party to any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative or investigative (other than an action by or in the right of the corporation) by reason of the fact that he is or was a director, officer, employee or agent of the corporation, or is or was serving at the request of the corporation as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise, against expenses (including attorneys’ fees), judgments, fines and amounts paid in settlement actually and reasonably incurred by him in connection with such action, suit or proceeding if he acted in good faith and in a manner he reasonably believed to be in or not opposed to the best interests of the corporation, and, with respect to any criminal action or proceeding, had no reasonable cause to believe his conduct was unlawful.

Subsection (b) of Section 145 of the DGCL empowers a corporation to indemnify any person who was or is a party or is threatened to be made a party to any threatened, pending or completed action, or suit by or in the right of the corporation to procure a judgment in its favor by reason of the fact that such person acted in any of the capacities set forth above, against expenses (including attorneys’ fees) actually and reasonably incurred by him in connection with the defense or settlement of such action or suit if he acted in good faith and in a manner that he reasonably believed to be in or not opposed to the best interests of the corporation, except that no indemnification may be made in respect of any claim, issue or matter as to which such person shall have been made to be liable to the corporation unless and only to the extent that the Court of Chancery or the court in which such action or suit was brought shall determine upon application that, despite the adjudication of liability but in view of all of the circumstances of the case, such person is fairly and reasonably entitled to indemnity for such expenses which the Court of Chancery or such other court shall deem proper.

Section 145 of the DGCL further provides that to the extent a director or officer of a corporation has been successful on the merits or otherwise in the defense of any action, suit or proceeding referred to in subsections (a) and (b) of Section 145 in the defense of any claim, issue or matter therein, he shall be indemnified against expenses (including attorneys’ fees) actually and reasonably incurred by him in connection therewith; that indemnification provided for by Section 145 shall not be deemed exclusive of any other rights to which the indemnified party may be entitled; that indemnification provided for by Section 145 shall, unless otherwise provided when authorized or ratified, continue as to a person who has ceased to be a director, officer, employee or agent and shall inure to the benefit of such person’s heirs, executors and administrators; and empowers the corporation to purchase and maintain insurance on behalf of a director or officer of the corporation against any liability asserted against him and incurred by him in any such capacity, or arising out of his status as such whether or not the corporation would have the power to indemnify him against such liabilities under Section 145.

The Company’s restated certificate of incorporation, as amended, provides for indemnification of directors and officers of the Company to the fullest extent permitted by applicable law. The Company’s bylaws, as amended, also provide that directors and officers shall be indemnified against liabilities arising from their service as directors or officers to the fullest extent permitted by law, which generally requires that the individual act in good faith and in a manner he or she reasonably believes to be in or not opposed to the Company’s best interests.


2



Section 102(b)(7) of the DGCL provides that a certificate of incorporation may contain a provision eliminating or limiting the personal liability of a director to the corporation or its stockholders for monetary damages for breach of fiduciary duty as a director provided that such provision shall not eliminate or limit the liability of a director (i) for any breach of the director’s duty of loyalty to the corporation or its stockholders, (ii) for acts or omissions not in good faith or which involve intentional misconduct or a knowing violation of law, (iii) under Section 174 of the DGCL or (iv) for any transaction from which the director derived an improper personal benefit.

In accordance with Section 102(b)(7) of the DGCL, the Company’s restated certificate of incorporation, as amended, contains a provision that generally eliminates the personal liability of directors for monetary damages for breaches of their fiduciary duty, subject to limitations of Section 102(b)(7).

The Company has also entered into indemnification agreements with all of its directors and elected officers. The indemnification agreements provide that the Company will indemnify these officers and directors to the fullest extent permitted by its restated certificate of incorporation, as amended, amended and restated bylaws and applicable law. The indemnification agreements also provide that these officers and directors shall be entitled to the advancement of fees as permitted by applicable law and sets out the procedures required under the agreements for determining entitlement to and obtaining indemnification and expense advancement.

The Company maintains insurance policies that provide coverages to its directors and officers against certain liabilities.

Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to directors, officers or persons controlling the registrants pursuant to the foregoing provisions, the registrants have been informed that in the opinion of the Securities and Exchange Commission such indemnification is against public policy as expressed in the Act and is therefore unenforceable.

Item 7. EXEMPTION FROM REGISTRATION CLAIMED

Not applicable.

Item 8. EXHIBITS

The following exhibits have been filed as a part of this Registration Statement and are specifically incorporated by reference:

Exhibit No.
 
Description
+4.1
 
Restated Certificate of Incorporation of TETRA Technologies, Inc. (incorporated by reference to Exhibit 3.1 to the Company’s Registration Statement on Form S-4 filed on December 27, 1995 (SEC File No. 33-80881)).
+4.2
 
Certificate of Amendment of Restated Certificate of Incorporation of TETRA Technologies, Inc. (incorporated by reference to Exhibit 3.1 to the Company’s Registration Statement on Form S-4 filed on December 27, 1995 (SEC File No. 33-80881)).
+4.3
 
Certificate of Amendment of Restated Certificate of Incorporation of TETRA Technologies, Inc. (incorporated by reference to Exhibit 3.1(ii) to the Company’s Annual Report on Form 10-K for the year ended December 31, 2003 filed on March 15, 2004 (SEC File No. 001-13455)).
+4.4
 
Certificate of Amendment of Restated Certificate of Incorporation of TETRA Technologies, Inc. (incorporated by reference to Exhibit 4.4 to the Company’s Registration Statement on Form S-4 filed on May 25, 2004 (SEC File No. 333-115859)).
+4.5
 
Certificate of Amendment of Restated Certificate of Incorporation of TETRA Technologies, Inc (incorporated by reference to Exhibit 4.5 to the Company’s Registration Statement on Form S-8 filed on May 4, 2006 (SEC File No. 333-133790)).
+4.6
 
Amended and Restated Bylaws of TETRA Technologies, Inc. (incorporated by reference to Exhibit 4.6 to the Company’s Registration Statement on Form S-8 filed on May 4, 2006 (SEC File No. 333-133790)).
+4.7
 
Certificate of Elimination, dated March 13, 2013, relating to the Series One Junior Participating Preferred Stock (incorporated by reference to Exhibit 3.1 to the Company’s Form 8-K filed on March 13, 2013 (SEC File No. 001-13455)).

3




Exhibit No.
 
Description
+4.8
 
Specimen Common Stock Certificate of the Company (incorporated by reference to Exhibit 4.1 to the Company’s Registration Statement on Form S-1 filed on February 23, 1990 (SEC File No. 33-33586)).
*4.9
 
Form of Employee Restricted Stock Award Agreement between TETRA Technologies, Inc. and Joseph Elkhoury.
*5.1
 
Opinion of Andrews Kurth LLP.
*23.1
 
Consent of Andrews Kurth LLP (included in Exhibit 5.1).
*23.2
 
Consent of Ernst & Young LLP.
*24.1
 
Powers of Attorney (included on signature page).
+Incorporated by reference.
* Filed herewith.

Item 9. UNDERTAKINGS

(a)    The undersigned registrant hereby undertakes:

(1)    To file, during any period in which offers or sales are being made, a post-effective amendment to this registration statement:

(i)    To include any prospectus required by Section 10(a)(3) of the Securities Act of 1933;

(ii)    To reflect in the prospectus any facts or events arising after the effective date of the registration statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in the registration statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the Commission pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more than a 20% change in the maximum aggregate offering price set forth in the “Calculation of Registration Fee” table in the effective registration statement;

(iii)    To include any material information with respect to the plan of distribution not previously disclosed in the registration statement or any material change to such information in the registration statement.

Provided, however, that paragraphs (a)(1)(i) and (a)(1)(ii) of this section do not apply if the registration statement is on Form S-8 and the information required to be included in a post-effective amendment by those paragraphs is contained in reports filed with or furnished to the Commission by the registrant pursuant to section 13 or section 15(d) of the Securities Exchange Act of 1934 that are incorporated by reference in the registration statement.

(2)    That, for the purpose of determining any liability under the Securities Act of 1933, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.

(3)    To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.

(b)    The undersigned registrant hereby undertakes that, for purposes of determining any liability under the Securities Act of 1933, each filing of the registrant’s annual report pursuant to section 13(a) or section 15(d) of the Securities Exchange Act of 1934 (and, where applicable, each filing of an employee benefit plan’s annual report pursuant to section 15(d) of the Securities Exchange Act of 1934) that is incorporated by reference in the registration statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.


4



(c)    Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to directors, officers and controlling persons of the registrant pursuant to the provisions described under Item 6 above, or otherwise, the registrant has been advised that in the opinion of the Securities and Exchange Commission such indemnification is against public policy as expressed in the Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the registrant of expenses incurred or paid by a director, officer or controlling person of the registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Act and will be governed by the final adjudication of such issue.


5



SIGNATURES

The Registrant. Pursuant to the requirements of the Securities Act of 1933, the registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of The Woodlands, State of Texas, on this 16th day of June, 2014.

 
TETRA TECHNOLOGIES, INC.
 
 
By:
/s/Stuart M. Brightman
 
Name: Stuart M. Brightman
 
Title: President & Chief Executive Officer


6



POWER OF ATTORNEY

KNOW ALL MEN BY THESE PRESENTS, that each of the undersigned officers and directors of the registrant hereby constitutes and appoints Stuart M. Brightman and Bass C. Wallace, Jr., and each of them severally, his lawful attorney-in-fact and agent, with full power of substitution and resubstitution, for him and on his behalf and in his name, place and stead, in any and all capacities, to sign, execute and file this registration statement under the Securities Act of 1933, as amended, and any and all amendments (including, without limitation, post-effective amendments), with all exhibits and any and all documents required to be filed with respect thereto, with the Securities and Exchange Commission or any regulatory authority, granting unto such attorneys-in-fact and agents full power and authority to do and perform each and every act and thing requisite and necessary to be done in and about the premises in order to effectuate the same, as fully to all intents and purposes as he himself might or could do, if personally present, hereby ratifying and confirming all that said attorneys-in-fact and agents or his substitute or substitutes, may lawfully do or cause to be done.

Pursuant to the requirements of the Securities Act of 1933, this registration statement has been signed by the following persons in the capacities and on the dates stated.

Name and Signature
Title
Date
 
 
 
/s/Stuart M. Brightman
President, Chief Executive Officer and Director
June 16, 2014
Stuart M. Brightman
(Principal Executive Officer)
 
 
 
 
/s/Elijio V. Serrano
Senior Vice President and Chief Financial Officer
June 16, 2014
Elijio V. Serrano
(Principal Financial Officer)
 
 
 
 
/s/Ben C. Chambers
Vice President - Accounting
June 16, 2014
Ben C. Chambers
(Principal Accounting Officer)
 
 
 
 
/s/Ralph S. Cunningham
Chairman of the Board of Directors and Director
June 16, 2014
Ralph S. Cunningham
 
 
 
 
 
/s/Mark E. Baldwin
Director
June 16, 2014
Mark E. Baldwin
 
 
 
 
 
/s/Thomas R. Bates, Jr.
Director
June 16, 2014
Thomas R. Bates, Jr.
 
 
 
 
 
/s/Paul D. Coombs
Director
June 16, 2014
Paul D. Coombs
 
 
 
 
 
/s/John F. Glick
Director
June 16, 2014
John F. Glick
 
 
 
 
 
/s/Kenneth P. Mitchell
Director
June 16, 2014
Kenneth P. Mitchell
 
 
 
 
 
/s/William D. Sullivan
Director
June 16, 2014
William D. Sullivan
 
 
 
 
 
/s/Kenneth E. White, Jr.
Director
June 16, 2014
Kenneth E. White, Jr.
 
 



7



EXHIBIT INDEX

Exhibit No.
 
Description
+4.1
 
Restated Certificate of Incorporation of TETRA Technologies, Inc. (incorporated by reference to Exhibit 3.1 to the Company’s Registration Statement on Form S-4 filed on December 27, 1995 (SEC File No. 33-80881)).
+4.2
 
Certificate of Amendment of Restated Certificate of Incorporation of TETRA Technologies, Inc. (incorporated by reference to Exhibit 3.1 to the Company’s Registration Statement on Form S-4 filed on December 27, 1995 (SEC File No. 33-80881)).
+4.3
 
Certificate of Amendment of Restated Certificate of Incorporation of TETRA Technologies, Inc. (incorporated by reference to Exhibit 3.1(ii) to the Company’s Annual Report on Form 10-K for the year ended December 31, 2003 filed on March 15, 2004 (SEC File No. 001-13455)).
+4.4
 
Certificate of Amendment of Restated Certificate of Incorporation of TETRA Technologies, Inc. (incorporated by reference to Exhibit 4.4 to the Company’s Registration Statement on Form S-4 filed on May 25, 2004 (SEC File No. 333-115859)).
+4.5
 
Certificate of Amendment of Restated Certificate of Incorporation of TETRA Technologies, Inc (incorporated by reference to Exhibit 4.5 to the Company’s Registration Statement on Form S-8 filed on May 4, 2006 (SEC File No. 333-133790)).
+4.6
 
Amended and Restated Bylaws of TETRA Technologies, Inc. (incorporated by reference to Exhibit 4.6 to the Company’s Registration Statement on Form S-8 filed on May 4, 2006 (SEC File No. 333-133790)).
+4.7
 
Certificate of Elimination, dated March 13, 2013, relating to the Series One Junior Participating Preferred Stock (incorporated by reference to Exhibit 3.1 to the Company’s Form 8-K filed on March 13, 2013 (SEC File No. 001-13455)).
+4.8
 
Specimen Common Stock Certificate of the Company (incorporated by reference to Exhibit 4.1 to the Company’s Registration Statement on Form S-1 filed on February 23, 1990 (SEC File No. 33-33586)).
*4.9
 
Form of Employee Restricted Stock Award Agreement between TETRA Technologies, Inc. and Joseph Elkhoury.
*5.1
 
Opinion of Andrews Kurth LLP.
*23.1
 
Consent of Andrews Kurth LLP (included in Exhibit 5.1).
*23.2
 
Consent of Ernst & Young LLP.
*24.1
 
Powers of Attorney (included on signature page).
+Incorporated by reference.
* Filed herewith.


8
EX-4.9 2 ttis8-20140616x01.htm EXHIBIT 4.9 ttis8-20140616 - 01


EXHIBIT 4.9

TETRA Technologies, Inc.

EMPLOYEE RESTRICTED STOCK AWARD AGREEMENT

This Employee Restricted Stock Award Agreement (the “Award Agreement”), effective as of and signed by both parties on June 16, 2014 (the “Grant Date”), is between TETRA Technologies, Inc., a Delaware corporation (“TETRA” or the “Company”), and Joseph Elkhoury (“Elkhoury”).

In connection with the initial employment of Elkhoury with the Company as an executive officer, in order to provide an equity incentive to Elkhoury by affording him the opportunity to acquire shares of common stock of the Company, $0.01 par value per share (“Common Stock”), and in consideration of the mutual agreements set forth herein, the Company and Elkhoury hereby agree as follows:

1. Administration. This Award Agreement shall be administered by the Management and Compensation Committee (the “Compensation Committee”) of the board of directors of the Company (the “Board”), but only if the Compensation Committee shall consist of not less than three members of the Board, each of whom shall qualify as a “non-employee director” (as that term is defined in Rule 16b-3 of the General Rules and Regulations under the Securities Exchange Act of 1934, as amended (the “Exchange Act”)) appointed by and serving at the pleasure of the Board to administer the Award Agreement and if not, then by the Board (and in either such case, the term “Committee” shall refer to the Compensation Committee or the Board, whichever shall be responsible pursuant to the forgoing for administering this Award Agreement). The Committee shall (i) interpret this Award Agreement, (ii) make, amend and rescind such rules as it deems necessary for the proper administration of this Award Agreement, (iii) make all other determinations necessary or advisable for the administration of this Award Agreement, (iv) correct any defect or supply any omission or reconcile any inconsistency in this Award Agreement in the manner and to the extent that the Committee deems desirable to effectuate this Award Agreement and (v) appoint any employee of the Company or other person to be responsible for and to perform all or any portion of the ministerial duties in the administration of this Award Agreement (the “Plan Administrator”), but such employee or other person shall have no other authority or powers of the Committee. Any action or determination made by the Committee pursuant to this and the other sections of this Award Agreement shall be final, binding and conclusive on all affected persons. No member of the Board or the Committee shall be liable for any action or determination made in good faith with respect to this Award Agreement and the members of the Board and the Committee shall be entitled to indemnification and reimbursement by the Company and its Affiliates in respect of any claim, loss, damage or expense (including legal fees) arising therefrom to the full extent permitted by law.

2. Grant of Restricted Stock. The Company hereby awards to Elkhoury all rights, title and interest in the record and beneficial ownership of 232,302 shares of Common Stock (the “Restricted Stock”), subject to and in accordance with the terms and conditions of this Award Agreement.

(a) Escrow of Restricted Stock. The Restricted Stock shall be represented by uncertificated shares designated for Elkhoury in book-entry registration on the records of the Company’s transfer agent or, at the discretion of the Company, by a stock certificate issued and registered in Elkhoury’s name, in each case subject to the restrictions set forth in this Award Agreement. Any book-entry uncertificated shares or stock certificates evidencing the Restricted Stock shall be held in custody by the Company until the restrictions thereon have lapsed, and as a condition of this award, Elkhoury shall deliver to the Company a stock power in substantially the form of Exhibit A attached hereto, endorsed in blank, with respect to any certificated shares of Restricted Stock.

The shares of Restricted Stock which are the subject of this Award Agreement shall be subject to the following legend:


1



The shares represented by this certificate or book-entry registration have been issued pursuant to the terms of the Award Agreement between TETRA Technologies, Inc. and Joseph Elkhoury and may not be sold, pledged, transferred, assigned or otherwise encumbered in any manner except as is set forth in the terms of this Award Agreement dated June 16, 2014.

In addition, the shares of Restricted Stock shall be subject to such stop-transfer orders and other restrictive measures as the Company may deem advisable under applicable securities laws, or to implement the terms, conditions or restrictions hereunder.

Following the vesting of any portion of the shares of the Restricted Stock and the removal of any restrictions thereon in accordance with Section 2(c) below, the Company will cause all restrictions to be removed from book-entry registrations or, at the Company’s discretion, issue a stock certificate, without such restrictive legend, in each case only with respect to the vested portion of the shares of the Restricted Stock registered on the Company’s books and records in the name of Elkhoury. Following the expiration of the Restricted Period, the Company will cause all restrictions to be removed from book-entry registrations or, at the Company’s discretion, issue a stock certificate, without such restrictive legend, for any shares of the Restricted Stock that have vested and with respect to which the restrictions imposed thereon have lapsed, in each case only to the extent such action has not previously been taken in accordance with the preceding sentence.

(b) Risk of Forfeiture. Elkhoury shall immediately forfeit all rights to any shares of the Restricted Stock which have not vested and with respect to which the restrictions thereon have not lapsed in the event (i) Elkhoury resigns or terminates his employment with the Company or any Affiliate (as defined herein), (ii) the Company terminates the employment of Elkhoury for Cause (as defined herein), or (iii) subject to the provisions of Section 3(c), Elkhoury’s employment terminates as a result of his death or Disability (as defined herein).

(c) Restricted Period; Vesting. Subject to the provisions of this Award Agreement including, without limitation, the following provisions of this Section 2(c), the total number of shares of Restricted Stock subject to this Award Agreement shall vest, and the restrictions imposed thereon shall lapse, in accordance with the following schedule:

(i)
35,111 shares of Restricted Stock shall vest on the date that is six months following the Grant Date;

(ii)
79,381 of such shares shall vest on the date that is one year following the Grant Date;

(iii)
44,602 of such shares shall vest on the date that is two years following the Grant Date;

(iv)
55,685 of such shares shall vest on the date that is three years following the Grant Date; and

(v)
17,523 of such shares shall vest on the date that is four years following the Grant Date.

The period from the Grant Date until all of the shares of the Restricted Stock have become vested and/or forfeited shall be referred to as the “Restricted Period.”

In the event Elkhoury’s employment with the Company or any Affiliate is terminated by the Company without Cause, the Restricted Stock subject to this Award Agreement shall continue to vest, and the restrictions imposed thereon shall lapse, in accordance with the schedule set forth above.

2




The Committee may, at its discretion, waive all restrictions and conditions of the Restricted Stock with the result that the shares of Restricted Stock that have not been forfeited shall be fully vested and the restrictions thereon shall have lapsed, (i) upon the occurrence of a Change in Control or termination of employment of Elkhoury following a Change in Control in accordance with Section 4 below, or (ii) upon the termination of Elkhoury’s employment by the Company without Cause or as a result of the death or Disability of Elkhoury in accordance with Section 3(c) below.

(d) Transferability. During the Restricted Period, Elkhoury shall not sell, assign, transfer, pledge, exchange, hypothecate, or otherwise dispose of any shares of the Restricted Stock. Following the vesting of any shares of Restricted Stock and the removal of any restrictions thereon in accordance with Section 2(c), Elkhoury may hold or dispose of such shares of Common Stock subject to compliance with (i) the terms and conditions of this Award Agreement, (ii) applicable federal or state securities laws or other applicable law, (iii) applicable rules of any exchange on which the Company’s securities are traded or listed, and (iv) the Company’s rules or policies as established by the Company in its sole discretion.

(e) Ownership Rights. Prior to any forfeiture of the shares of Restricted Stock and while such nonvested shares are restricted, Elkhoury shall, subject to the terms and restrictions of this Award Agreement, have all rights with respect to the shares of Restricted Stock awarded hereunder including the right to vote the shares of Restricted Stock, whether or not vested in accordance with Section 2(c) above, and the right to receive all dividends, cash or stock, paid or delivered thereon from and after the Grant Date in accordance with the following provisions. During the Restricted Period, any dividends, cash or stock, paid or delivered on any of the nonvested, non-forfeited shares of the Restricted Stock shall be subject to the same vesting requirements of the underlying shares of Restricted Stock and shall be credited to an account, which account shall be established for purposes of determining the amount of such distributions owing to Elkhoury. In the event of the forfeiture of any nonvested shares of the Restricted Stock, Elkhoury shall have no further rights with respect to such Restricted Stock and shall forfeit any accumulated dividends, cash or stock, credited to such account which are related to the forfeited shares of Restricted Stock. To the extent the shares of Restricted Stock shall become fully vested and the restrictions imposed thereon shall lapse pursuant to Section 2(c) above, all dividends, cash and stock, if any, credited to the account shall be distributed to Elkhoury without interest within thirty (30) days following the vesting of the underlying shares of Restricted Stock. The account referred to above shall be a notional account only. The Company shall not segregate or set aside cash, shares or other property or assets for, or otherwise secure, the payment of any amounts that may be or become owed under this Section 2(e).

(f) Tax Withholding. Unless other arrangements have been made with the Committee, either (i) Elkhoury shall deliver to the Company payment in full for any required withholding taxes in connection with the vesting of shares of Restricted Stock, or (ii) Elkhoury shall surrender, and the Company shall deduct from the number of shares of Restricted Stock otherwise deliverable upon vesting, a number of shares that have an aggregate Fair Market Value per share as of the date of such withholding that is not greater than the sum of all tax amounts to be withheld with respect thereto at the minimum statutory rate, together with payment of any remaining portion of such tax amounts in cash or by check payable and acceptable to the Company.

3. Termination of Employment.

(a) If (i) Elkhoury resigns or terminates his employment with the Company or any Affiliate, (ii) the Company terminates the employment of Elkhoury for Cause, or (iii) subject to the provisions of Section 3(c), Elkhoury’s employment terminates as a result of his death or Disability, (A) any nonvested shares of Restricted Stock outstanding at the time of such termination and all rights thereunder shall be forfeited and no further vesting shall occur, (B) all nonvested shares of the Restricted Stock shall revert to the Company automatically without any payment or consideration and the Company shall have the right to take all necessary and appropriate actions to recover certificates and other indicia of such shares.


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(b)    In the event Elkhoury’s employment with the Company or any Affiliate is terminated by the Company without Cause, the Restricted Stock subject to this Award Agreement shall continue to vest, and the restrictions imposed thereon shall lapse, in accordance with the provisions set forth in Section 2(c) above.

(c) Upon termination of employment of Elkhoury by the Company without Cause or as a result of the death or Disability of Elkhoury, the Committee, in its discretion, may provide that all or a portion of any nonvested shares of Restricted Stock subject to this Award Agreement shall become vested; provided, however, that (x) if the shares of Restricted Stock subject to this Award Agreement are subject to Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”), the Committee shall not have the authority to accelerate vesting or waive any restrictions in a manner that would cause the shares of Restricted Stock to become subject to tax, interest, or penalty provisions thereunder, and (y) no acceleration of vesting and waiver of restrictions will be effective prior to the date of the Committee’s written determination.

4. Change in Control.

(a) AChange in Control” shall be deemed to have occurred upon any of the following events:

(i) any “person” (as defined in Section 3(a)(9) of the Exchange Act, and as modified in Section 13(d) and 14(d) of the Exchange Act) other than (A) the Company or any of its subsidiaries, (B) any employee benefit plan of the Company or any of its subsidiaries, (C) or any Affiliate, (D) a company owned, directly or indirectly, by stockholders of the Company in substantially the same proportions as their ownership of the Company, or (E) an underwriter temporarily holding securities pursuant to an offering of such securities (a “Person”), becomes the “beneficial owner” (as defined in Rule 13d-3 of the Exchange Act), directly or indirectly, of securities of the Company representing more than 50% of the shares of voting stock of the Company then outstanding;

(ii) the consummation of any merger, reorganization, business combination or consolidation of the Company or one of its subsidiaries with or into any other company, other than a merger, reorganization, business combination or consolidation which would result in the holders of the voting securities of the Company outstanding immediately prior thereto holding securities which represent immediately after such merger, reorganization, business combination or consolidation more than 50% of the combined voting power of the voting securities of the Company or the surviving company or the parent of such surviving company;

(iii) the consummation of a sale or disposition by the Company of all or substantially all of the Company’s assets, other than a sale or disposition if the holders of the voting securities of the Company outstanding immediately prior thereto hold securities immediately thereafter which represent more than 50% of the combined voting power of the voting securities of the acquiror, or parent of the acquiror, of such assets;

(iv) the stockholders of the Company approve a plan of complete liquidation or dissolution of the Company; or

(v) individuals who, as of the Grant Date, constitute the Board (the “Incumbent Board”) cease for any reason to constitute at least a majority of the Board; provided, however, that any individual becoming a director subsequent to the Grant Date whose election, or nomination for election by the Company’s stockholders, was approved by a vote of at least a majority of the directors then comprising the Incumbent Board, shall be considered as though such individual were a member of the Incumbent Board, but excluding, for this purpose, any such individual whose initial assumption of office occurs as a result of an election contest with respect to the election or removal of directors or other solicitation of proxies or consents by or on behalf of a person other than the Board.


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Notwithstanding the foregoing, however, in any circumstance or transaction in which compensation resulting from or in respect of the shares of Restricted Stock subject this Award Agreement would be subject to the income tax under Section 409A of the Code if the foregoing definition of “Change in Control” were to apply, but would not be so subject if the term “Change in Control” were defined herein to mean a “change in control event” within the meaning of Treas. Reg. § 1.409A-3(i)(5), then “Change in Control” shall mean a transaction, event or circumstance that constitutes a Change in Control as defined above and that also constitutes a “change in control event” within the meaning of Treas. Reg. § 1.409A-3(i)(5), but only to the extent necessary to prevent such compensation from becoming subject to the income tax under Section 409A of the Code.
    
(b) Unless otherwise provided in a severance or change in control agreement approved by the Board and/or the Committee to which Elkhoury is a party that addresses the effect on the Restricted Stock of a Change in Control or termination of Elkhoury’s employment following a Change in Control, in which case such agreement shall control, in the event of a Change in Control, the Committee may (i) waive all restrictions and conditions of all Restricted Stock then outstanding with the result that the shares of Restricted Stock shall be fully vested and all restrictions shall be deemed satisfied, and the Restricted Period shall be deemed to have expired as of the date of the Change in Control or such other date as may be determined by the Committee, or (ii) provide that the Restricted Stock be assumed by the successor or survivor entity, or be exchanged and substituted for similar shares covering the equity of the successor or survivor, or a parent or subsidiary thereof, with appropriate adjustments as to the number of shares.

Notwithstanding the above, the Committee shall not be required to take any action described in the preceding sentence and any decision made by the Committee, in its sole discretion, not to take some or all of the actions described in the preceding sentence shall be final, binding and conclusive with respect to the Company and all other interested persons.

(c) The Committee may provide for any action described in Section 4(b) above to occur immediately upon a Change in Control or upon termination of employment of Elkhoury, initiated by the successor or survivor entity under such circumstances as may be specified by the Committee, within a fixed time following the Change in Control.

(d) If approved by the Board prior to any Change in Control described in clauses (ii), (iii) or (iv) of Section 4(a) above, or prior to or within thirty (30) days after a Change in Control described in Section 4(a)(i) above shall be deemed to have occurred, the Board shall have the right upon such Change in Control or for a forty-five (45) day period immediately following the date that the Change in Control is deemed to have occurred to require Elkhoury to transfer and deliver to Company all unvested shares of Restricted Stock hereunder with respect to which the restrictions have not lapsed in exchange for an amount equal to the “cash value” (defined below) of such shares of Restricted Stock. Such right shall be exercised by written notice to Elkhoury. The cash value of such shares of Restricted Stock shall equal the “market value” (defined below) per share, multiplied by the number of unvested shares of Restricted Stock hereunder with respect to which the restrictions have not lapsed. For purposes of the preceding sentence, “market value” per share shall mean the higher of (i) the average of the Fair Market Value Per Share of Common Stock on each of the five trading days immediately following the date a Change in Control is deemed to have occurred or (ii) the highest price, if any, offered in connection with the Change in Control. The amount payable to Elkhoury by the Company pursuant to this Section 4(c) shall be paid in cash or by certified check and shall be reduced by any taxes required to be withheld.

5. Reorganization of Company and Subsidiaries. The existence of the shares of Restricted Stock granted hereunder shall not affect in any way the right or power of Company or its stockholders to make or authorize any or all adjustments, recapitalizations, reorganizations or other changes in the Company’s capital structure or its business, or any merger or consolidation of Company or any issue of bonds, debentures, preferred or prior preference stock ahead of or affecting the shares of Restricted Stock, or the rights thereof, or the dissolution or liquidation of Company, or any sale or transfer of all or any part of its assets or business, or any other corporate act or proceeding, whether of a similar character or otherwise.

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6. Adjustment of Shares. In the event that at any time after the date of this Award Agreement the outstanding shares of Common Stock are changed into or exchanged for a different number or kind of shares or other securities of the Company by reason of a merger, consolidation, recapitalization, reclassification, stock split, stock dividend, combination of shares, or the like, the Committee shall, in such manner as it may deem equitable, make adjustment to the aggregate number of shares of Restricted Stock which have not vested under this Award Agreement, subject to any required action by the stockholders of the Company.

7. Certain Restrictions. By executing this Award Agreement, Elkhoury agrees that if at the time of delivery of the shares of Restricted Stock issued hereunder any sale of such shares of Common Stock is not covered by an effective registration statement filed under the Securities Act of 1933 (“Act”), the shares resulting from the delivery of Restricted Stock may be subject to such stop-transfer orders, legends, and other restrictive measures as the Company shall require and Elkhoury will acquire the shares of Restricted Stock for Elkhoury’s own account and without a view to resale or distribution in violation of the Act or any other securities law, and upon any such acquisition Elkhoury will enter into such written representations, warranties, and agreements as Company may reasonably request in order to comply with the Act or any other securities law or with this Award Agreement. Elkhoury agrees that the Company shall not be obligated to take any affirmative action in order to cause the issuance or transfer of shares deliverable hereunder to comply with any law, rule, or regulation that applies to the shares subject to this Award Agreement.

8. Amendment and Termination. The Award Agreement may not be terminated by the Board or the Committee at any time without the written consent of Elkhoury. This Award Agreement may be amended in writing by the Company and Elkhoury, provided the Company may amend this Award Agreement unilaterally (i) if the amendment does not adversely affect Elkhoury’s rights hereunder in any material respect, (ii) if the Company determines that an amendment is necessary to comply with Rule 16b-3 under the Exchange Act, or (iii) if the Company determines that an amendment is necessary to meet the requirements of the Code or to prevent adverse tax consequences to Elkhoury. No amendment or termination of this Award Agreement will adversely affect the rights and privileges of Elkhoury to the award granted hereunder without the written consent of Elkhoury.

9. No Guarantee of Employment. Neither this Award Agreement nor the award evidenced hereby shall confer upon Elkhoury any right with respect to continuance of employment or other service with the Company or any Affiliate, nor shall it interfere in any way with any right Company or any Affiliate would otherwise have to terminate Elkhoury’s employment or other service at any time.

10. Tax Matters.

(a) The Company shall have the right to require such arrangements and/or take such actions as may be necessary or appropriate to satisfy any withholding of any federal, state or local taxes required by law upon the vesting of shares of Restricted Stock and satisfaction of the conditions precedent under this Award Agreement. Such arrangements or actions may include (i) deducting from the number of shares of Restricted Stock otherwise deliverable upon vesting and satisfaction of the conditions precedent under this Award Agreement a number of shares that have an aggregate Fair Market Value per share as of the date of such withholding that is not greater than the sum of all tax amounts to be withheld with respect thereto at the minimum statutory rate, together with payment of any remaining portion of such tax amounts in cash or by check payable and acceptable to the Company, or (ii) taking such other action as may be necessary or appropriate to satisfy any such tax withholding obligations.

(b) Elkhoury understands and acknowledges the following: Under Section 83 of the Code, the difference between the purchase price paid, if any, for the shares of Restricted Stock and their Fair Market Value on the date of vesting when any forfeiture restrictions applicable to such shares lapse will be reportable as ordinary income for federal income purposes at that time. For this purpose, “forfeiture restrictions” include the Company’s rights to reacquire the shares of the nonvested Restricted Stock described above. Alternatively, Elkhoury may elect to be taxed as of the Grant Date, rather than when such shares vest and

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cease to be subject to such forfeiture restrictions, by filing an election under Section 83(b) of the Code with the Internal Revenue Service within thirty (30) days after the Grant Date. If such an election is made, Elkhoury will be required to recognize ordinary income for federal income tax purposes to the extent the purchase price, if any, paid by Elkhoury for such shares is less than the Fair Market Value of the shares (determined without regard to the vesting requirements and forfeiture restrictions hereunder) on the Grant Date. Failure to make this filing within the thirty (30) day period will result in the recognition of ordinary income by Elkhoury as the shares of Restricted Stock vest and the forfeiture restrictions lapse. Making the election under Section 83(b) of the Code will not alter or affect the vesting requirements or the risk of forfeiture provided for in this Award Agreement.

ELKHOURY ACKNOWLEDGES THAT IT IS ELKHOURY’S SOLE RESPONSIBILITY, AND NOT THE COMPANY’S, TO FILE A TIMELY ELECTION UNDER SECTION 83(b) IF ELKHOURY ELECTS TO DO SO, EVEN IF ELKHOURY REQUESTS THE COMPANY OR ITS REPRESENTATIVES TO MAKE THIS FILING ON ELKHOURY’S BEHALF. ELKHOURY MUST AND IS RELYING SOLELY ON ELKHOURY’S OWN ADVISORS WITH RESPECT TO THE DECISION AS TO WHETHER OR NOT TO FILE ANY SECTION 83(b) ELECTION.

(c) Elkhoury shall be solely responsible for and liable for any and all tax consequences (including but not limited to any interest or penalties) as a result of his acceptance of this Award Agreement and the compensation provided hereunder. Neither Company nor the Board or Committee makes any commitment or guarantee that any federal, state, local, or foreign tax treatment will apply or be available to Elkhoury under this Award Agreement and assumes no liability whatsoever for the tax consequences. The parties intend this Award Agreement and the compensation provided hereunder to be exempt from and/or compliant with Section 409A of the Code and will interpret and apply this Award Agreement in accordance with such intentions.

(d) Notwithstanding any other provision of this Award Agreement to the contrary, if Elkhoury is a “key employee,” as defined in Section 416(i) of the Code (without regard to paragraph 5 thereof), except to the extent permitted under Section 409A of the Code, no benefit or payment that is subject to Section 409A of the Code (after taking into account all applicable exceptions to Section 409A of the Code, including but not limited to the exceptions for short-term deferrals and for “separation pay only upon an involuntary separation from service”) shall be made under this Award Agreement on account of Elkhoury’s “separation from service,” as defined in Section 409A of the Code, with the Company and its Affiliates until the later of the date prescribed for payment in this Award Agreement and the first (1st) day of the seventh (7th) calendar month that begins after the date of Elkhoury’s separation from service (or, if earlier, the date of his death). Unless otherwise provided in this Award Agreement, any amount that is otherwise payable within the delay period described in the immediately preceding sentence will be aggregated and paid in a lump sum without interest.

11. Definitions. As used herein, the following terms shall have the meanings set forth below:

(a) Affiliate means (i) any entity in which the Company, directly or indirectly, owns 10% or more of the combined voting power, as determined by the Committee, (ii) any “parent corporation” of the Company (as defined in Section 424(e) of the Code), (iii) any “subsidiary corporation” of any such parent corporation (as defined in Section 424(f) of the Code) of the Company and (iv) any trades or businesses, whether or not incorporated which are members of a controlled group or are under common control (as defined in Sections 414(b) or (c) of the Code) with the Company.

(b) Cause means the following: (i) a willful breach in any material respect by Elkhoury of a fiduciary duty to the Company or to an Affiliate; (ii) a conviction of Elkhoury (or a plea of guilty or a plea of nolo contendere in lieu thereof) by a court of competent jurisdiction for any felony or, with respect to his employment, for a crime involving fraud, embezzlement, dishonesty or moral turpitude, from which conviction no further appeal may be taken; (iii) the failure of the Elkhoury to substantially follow the reasonable and lawful written instructions or policies of the Board or of the Company with respect to the services to be rendered and the manner of rendering such services by Elkhoury; (iv) the willful failure of Elkhoury to render

7



any material services to the Company or to an Affiliate in accordance with any employment or similar arrangement to which Elkhoury is subject, which failure amounts to a material neglect of Elkhoury’s duties to the Company or to an Affiliate. Notwithstanding the foregoing, Elkhoury’s employment shall not be deemed to have been terminated for Cause unless (A) reasonable notice shall have been given to him setting forth in detail the reasons for the Company’s intention to terminate for Cause, and if such termination is pursuant to clause (i), (iii) or (iv) above and such breach or action is curable, only if Elkhoury has been provided a period of thirty (30) days from receipt of such notice to cease the actions or inactions or otherwise cure such breach, and he has not done so; (B) an opportunity shall have been provided for the Elkhoury to be heard before the Board; and (C) if such termination is pursuant to clause (i), (ii) or (iii) above, delivery shall have been made to Elkhoury of a notice of termination from the Board finding that in the good faith opinion of a majority of the Board that the condition set forth in clause (i), (ii) or (iii) above has been satisfied.

(c) Covered Employee means any of the Chief Executive Officer of the Company and the three highest paid officers of the Company other than the Chief Executive Officer or the Chief Financial Officer as described in Section 162(m)(3) of the Code.

(d) Disability means an inability to perform material services for the Company for a period of 90 consecutive days or a total of 180 days, during any 365-day period, in either case as a result of incapacity due to mental or physical illness, which is determined to be total and permanent. A determination of Disability shall be made by a physician satisfactory to both Elkhoury (or his guardian) and the Company, provided that if Elkhoury (or his guardian) and the Company do not agree on a physician, Elkhoury and the Company shall each select a physician and these two together shall select a third physician, whose determination as to Disability shall be final, binding and conclusive with respect to all parties. Notwithstanding the above, eligibility for disability benefits under any policy for long-term disability benefits provided to Elkhoury by the Company shall conclusively establish the disability. In the case this award is or becomes subject to Section 409A of the Code, “Disability” means a condition that meets the requirements of Treas. Reg. § 1.409A-3(i)(4).

(e) Fair Market Value means, as of any given date, the closing price per share on the principal exchange or over-the-counter market on which such shares are trading, if any, or as reported on any composite index which includes such principal exchange, or if no trade of the Common Stock shall have been reported for such date, the closing price quoted on such exchange or market for the most recent preceding date on which such shares were traded. The term “closing price” on any given day shall mean (i) if the shares of Common Stock are listed or admitted for trading on a national securities exchange, the last reported sales price on such day, or (ii) if the shares of Common Stock are not listed or admitted for trading on a national securities exchange, the last transaction price on such day of the shares of Common Stock on the Nasdaq Market, Inc. (“NASDAQ”). If shares of the Common Stock are not listed or admitted to trading on any exchange, over-the-counter market or any similar organization on any given day, the Fair Market Value shall be determined by the Committee in good faith using any fair and reasonable means selected in its discretion.

12. Leave of Absence. If Elkhoury is on military, sick leave or other bona fide leave of absence, he shall be considered an “employee” for purposes of this Award Agreement during the period of such leave provided it does not exceed 90 days (or such longer period as may be determined by the Committee in its sole discretion), or, if longer, so long as his right to reemployment is guaranteed either by statute or by contract. If the period of leave exceeds 90 days (or such longer period as may be determined by the Committee in its sole discretion), the employment relationship shall be deemed to have terminated on the 91st day (or the first day immediately following any period of leave in excess of 90 days as approved by the Committee) of such leave, unless his right to reemployment is guaranteed by statute or contract.

13. Community Interest of Spouse. The community interest, if any, of any spouse of Elkhoury in any Restricted Stock shall be subject to all of the terms, conditions and restrictions of this Award Agreement.


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14. Consent to Electronic Delivery; Electronic Signature. In lieu of receiving documents in paper format, Elkhoury agrees, to the fullest extent permitted by law, to accept electronic delivery of any documents that the Company may be required to deliver (including, but not limited to, prospectuses, prospectus supplements, grant or award notifications and agreements, account statements, annual and quarterly reports, and all other forms of communications) in connection with this and any other award made or offered by the Company. Electronic delivery may be via a Company electronic mail system or by reference to a location on a Company intranet to which Elkhoury has access. Elkhoury hereby consents to any and all procedures the Company has established or may establish for an electronic signature system for delivery and acceptance of any such documents that the Company may be required to deliver, and agrees that his electronic signature is the same as, and shall have the same force and effect as, his manual signature.

15. Clawback/Recoupment Policy. Notwithstanding any provisions in this Award Agreement to the contrary, this Award Agreement and any shares of the Restricted Stock subject to this Award Agreement, including without limitation, shares of Restricted Stock that have vested and with respect to which the restrictions imposed thereon have lapsed, and/or any income realized upon Elkhoury’s disposition of any such shares shall be subject to potential cancellation, rescission, clawback, and recoupment (i) to the extent necessary to comply with the requirements of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 and any regulations or listing requirements promulgated thereunder, and/or (ii) as may be required in accordance with the terms of any clawback/recoupment policy as may be adopted by the Company to comply with the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 and any regulations or listing requirements promulgated thereunder.

16. Severability. In the event that any provision of this Award Agreement shall be held illegal, invalid, or unenforceable for any reason, such provision shall be fully severable, but shall not affect the remaining provisions of this Award Agreement, and this Award Agreement shall be construed and enforced as if the illegal, invalid, or unenforceable provision had never been included herein.

17. Governing Law. This Award Agreement shall be construed in accordance with the laws of the State of Delaware to the extent federal law does not supersede and preempt Delaware law.

COMPANY
TETRA Technologies, Inc.


By:                          
Stuart M. Brightman
President & Chief Executive Officer

ELKHOURY


By:                         
Joseph Elkhoury




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Exhibit A

Assignment Separate from Certificate

FOR VALUE RECEIVED,              hereby sells, assigns and transfers unto TETRA Technologies, Inc., a Delaware corporation (the “Company”),          (        ) shares of common stock of the Company represented by Certificate No.          herewith and does hereby irrevocably constitute and appoint                     , or his designee or successor, attorney to transfer the said stock on the books of the Company with full power of substitution in the premises.

Dated:                 , 20    .


                                                    
Print Name


                                                    
Signature


Spouse Consent (if applicable)

(Purchaser’s spouse) indicates by the execution of this Assignment his or her consent to be bound by the terms of the Employee Restricted Stock Award Agreement as to his or her interests, whether as community property or otherwise, if any, in the shares of common stock of the Company.


                                                    
Signature



INSTRUCTIONS: PLEASE DO NOT FILL IN ANY BLANKS OTHER THAN THE SIGNATURE LINE. THE PURPOSE OF THIS ASSIGNMENT IS TO ENABLE THE COMPANY TO EXERCISE ITS “REPURCHASE OPTION” SET FORTH IN THE EQUITY AWARD AGREEMENT WITHOUT REQUIRING ADDITIONAL SIGNATURES ON THE PART OF THE PURCHASER.


10
EX-5.1 3 ttis8-20140616x02.htm EXHIBIT 5.1 ttis8-20140616 - 02

EXHIBIT 5.1
10001 Woodloch Forest Drive
Suite 200
The Woodlands, Texas 77380
713.220.4801 Phone
713.220.4815 Fax
andrewskurth.com

 
June 16, 2014


TETRA Technologies, Inc.
24955 Interstate 45 North, Suite 600
The Woodlands, Texas 77380

Ladies and Gentlemen:

We have acted as counsel for TETRA Technologies, Inc., a Delaware corporation (the “Company”), in connection with the preparation and filing with the Securities and Exchange Commission (the “SEC”) of the registration statement on Form S-8 (the “Registration Statement”) under the Securities Act of 1933, as amended (the “Securities Act”), relating to the offer and sale of up to 232,302 shares (the “Shares”) of the Company’s common stock, par value $0.01 per share (the “Common Stock”), which are subject to issuance by the Company pursuant to an Employee Restricted Stock Award Agreement to be entered into by and between the Company and Joseph Elkhoury (the “Award Agreement”).

In rendering the opinions hereinafter expressed, we have examined: (i) originals, or copies certified or otherwise identified to our satisfaction, of the following (a) the Registration Statement; (b) the form of the Award Agreement attached as an exhibit to the Registration Statement; (c) the Restated Certificate of Incorporation of the Company, as amended to date; (d) the Amended and Restated Bylaws of the Company, as amended to date; (e) certain resolutions adopted by the Board of Directors of the Company; and (f) such other instruments and documents as we have deemed necessary or advisable for the purposes of this opinion; and (ii) such statutes, including the Delaware General Corporation Law, as we have deemed necessary or advisable for the purposes of this opinion.
In our examination, we have assumed and have not verified (i) the legal capacity of all natural persons, (ii) that all signatures on documents examined by us are genuine, (iii) the authenticity of all documents submitted to us as originals, and (iv) the conformity to the original documents of all documents submitted to us as facsimile, electronic, certified, conformed or photostatic copies. As to any facts material to the opinions expressed herein, we have relied upon statements and representations of officers and other representatives of the Company and of public officials, and we have not independently verified any factual matter relating to the opinions expressed herein.
Based upon the foregoing and such legal considerations as we deem relevant, and subject to the limitations, qualifications, exceptions and assumptions set forth herein, we are of the opinion that (i) the Shares issuable by the Company pursuant to the Award Agreement have been duly authorized, and (ii) upon issuance and delivery of such Shares pursuant to the terms of the Award Agreement, and upon receipt by the Company of lawful consideration under Delaware law in accordance with the terms of the Award Agreement, and otherwise in accordance with the terms and conditions of the Award Agreement, including the lapse of the restrictions relating thereto, such Shares will be validly issued, fully paid and non-assessable.



TETRA Technologies, Inc.
June 16, 2014
Page 2

We express no opinion other than as to the federal laws of the United States of America and the Delaware General Corporation Law (including the statutory provisions, the applicable provisions of the Delaware Constitution and reported judicial decisions interpreting the foregoing). For purposes of this opinion, we assume that the Shares will be issued in compliance with all applicable state securities or blue sky laws.
We hereby consent to the filing of this opinion with the SEC as an exhibit to the Registration Statement. In giving this consent, we do not thereby admit that we are included in the category of persons whose consent is required under Section 7 of the Securities Act or the rules and regulations of the SEC issued thereunder.
Our opinion is rendered as of the date hereof, and we assume no obligation to update or supplement our opinion to reflect any change of fact, circumstance or law after such time.
Very truly yours,
/s/Andrews Kurth LLP




EX-23.2 4 ttis8-20140616x03.htm EXHIBIT 23.2 ttis8-20140616 - 03



EXHIBIT 23.2


CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

We consent to the incorporation by reference in the Registration Statement (Form S-8) pertaining to the Employee Restricted Stock Award Agreement with Joseph Elkhoury of TETRA Technologies Inc. of our reports dated March 3, 2014, with respect to the consolidated financial statements of TETRA Technologies, Inc. and the effectiveness of internal control over financial reporting of TETRA Technologies, Inc. included in its Annual Report (Form 10-K) for the year ended December 31, 2013, filed with the Securities and Exchange Commission.


/s/ Ernst & Young LLP                            
Houston, Texas
June 16, 2014



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