EX-10.15




 Exhibit 10.15 

SUMMARY OF 2014 SALARIES OF NAMED EXECUTIVE OFFICERS 

The Company does not have written employment agreements with its CEO, CFO, or the other most highly compensated executive officers to be named
in the Company’s Proxy Statement (the “Named Executive Officers”). The following table sets forth the current base salaries provided to the Named Executive Officers: 

 

					
	 Executive Officer
	  	Current Salary	 
	 Rene J. Robichaud-President & CEO
	  	$	613,800	  
	 James R. Easter-Sr. VP and CFO1
	  	$	350,000	  
	 Jerry W. Fanska-Former Sr. VP-Finance & Treasurer1
	  	$	386,250	  
	 Steven F. Crooke-Sr. VP-General Counsel & Secretary
	  	$	362,250	  
	 Gernot E. Penzhorn-Sr. VP of Operations-International
	  	$	300,000	  
	 David D. Singleton-Sr. VP of Operations-Domestic
	  	$	300,000	  

 All of the Named Executive Officers are also eligible to receive a bonus each year under the Company’s
Executive Short-Term Incentive Plan (the “Executive STI Plan”), and equity awards or grants under the Company’s Long-Term Incentive Plan (the “LTI Plan”). The amounts of such bonuses, awards and grants are made based on the
recommendation of the Compensation Committee with the approval of the Board of Directors in accordance with the terms and conditions of the Executive STI Plan and the LTI Plan, which have been filed with the Securities and Exchange Commission (the
“SEC”). The Named Executive Officers are also eligible to receive discretionary bonuses, awards and grants based upon the recommendation of the Compensation Committee and the approval of the Board of Directors. 

SUMMARY OF 2014 COMPENSATION OF DIRECTORS 

For fiscal 2014, each director of the Company who was not also an employee of the Company, except the Chairman of the Board, received an
annual retainer of $50,000. The Chairman of the Board received an annual retainer of $75,000 for fiscal 2014. The Chairmen of the Audit Committee, the Compensation Committee and the Nominating & Corporate Governance Committee received
additional annual retainers of $15,000, $10,000 and $5,000, respectively, for fiscal 2014. All such retainers were payable in quarterly installments. In addition, each non-employee director received $1,500 for each board meeting he attended either
in person or via teleconference and each member of the Audit Committee, the Compensation Committee and the Nominating & Corporate Governance Committee received $1,500 for each committee meeting he attended either in person or via
teleconference during fiscal 2014. As an additional component of their compensation packages, all non-employee directors of the Company receive a onetime award of an option to purchase 3,000 shares of the Company’s common stock upon becoming a
member of the Board. For fiscal 2014, each non-employee director, except the Chairman, also received an annual award of restricted stock or stock options of the Company, or a combination of both, whichever they chose, with a value equal to $50,000
on the date of the award. For fiscal 2014, the Chairman received an annual award of either restricted stock or stock options of the Company or a combination of both, whichever he chose, with a value equal to $75,000 on the date of the award. The
annual equity award was made on April 1, 2013. The restricted stock is valued based on the market price of the Company’s 








 
common stock on the day the stock is issued, vests one year from the date of issuance, and is otherwise subject to all of the terms and conditions of the Company’s 2006 Equity Plan, or such
other plan under which the restricted stock may be issued. The director options have an exercise price equal to the market price of the common stock on the day they were issued, are 100% vested upon issuance, have a ten-year life and are otherwise
subject to all of the terms and conditions of the 2006 Equity Plan, or such other plan under which the options may be issued. Directors of the Company who are also employees of the Company receive no compensation for service to Layne Christensen as
directors. 
  

	1	Jerry W. Fanska retired from his position as the Senior Vice President-Finance and Treasurer of the Company on May 6, 2013, and James R. Easter became a Senior
Vice President and the Chief Financial Officer of the Company on May 6, 2013 as well.