# EDGAR Filing Document

**Accession Number:** 0001697500
**File Stem:** 0001104659-23-029569
**Filing Date:** 2023-3
**Character Count:** 36092
**Document Hash:** 8b41581e4b10979a53febae9a067d686
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-23-029569.hdr.sgml**: 20230307

**ACCESSION NUMBER**: 0001104659-23-029569

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 13

**CONFORMED PERIOD OF REPORT**: 20230301

**ITEM INFORMATION**: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20230307

**DATE AS OF CHANGE**: 20230307

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Solaris Oilfield Infrastructure, Inc.
- **CENTRAL INDEX KEY:** 0001697500
- **STANDARD INDUSTRIAL CLASSIFICATION:** OIL & GAS FILED MACHINERY & EQUIPMENT [3533]
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-38090
- **FILM NUMBER:** 23712874

**BUSINESS ADDRESS:**
- **STREET 1:** 9811 KATY FREEWAY
- **STREET 2:** SUITE 700
- **CITY:** HOUSTON
- **STATE:** TX
- **ZIP:** 77024
- **BUSINESS PHONE:** (281)501-3070

**MAIL ADDRESS:**
- **STREET 1:** 9811 KATY FREEWAY
- **STREET 2:** SUITE 700
- **CITY:** HOUSTON
- **STATE:** TX
- **ZIP:** 77024

?xml version="1.0" encoding="utf-8"?

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 8-K**

**CURRENT REPORT**

**Pursuant to Section 13 or Section 15(d) of the Securities Exchange Act of 1934**

**Date of Report (Date of earliest event reported): March 1, 2023**

**Solaris Oilfield Infrastructure, Inc.** 

**(Exact name of registrant as specified in its charter)**

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| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Delaware** | &nbsp;&nbsp;**001-38090** | &nbsp;&nbsp;**81-5223109** |
| &nbsp;&nbsp;**(State or other jurisdiction <br> of incorporation)** | &nbsp;&nbsp;**(Commission<br> File Number)** | &nbsp;&nbsp;**(I.R.S. Employer <br> Identification No.)** |

---

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| |
|:---|
| &nbsp;&nbsp;**9811 Katy Freeway, Suite 700<br> Houston, Texas 77024** |
| &nbsp;&nbsp;(Address of principal executive offices)<br> (Zip Code) |

---

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| |
|:---|
| &nbsp;&nbsp;**(281) 501-3070** |
| &nbsp;&nbsp;(Registrant's telephone number, including area code) |

---

**(Former name or former address, if changed since last report)**

Check the appropriate box below if the Form 8-K is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

◻ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

◻ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

◻ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

◻ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

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| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**<u>Title of Each Class</u>** | &nbsp;&nbsp;**<u>Trading Symbol(s)</u>** | &nbsp;&nbsp;**<u>Name of Each Exchange on Which <br> Registered</u>** |
| &nbsp;&nbsp;Class A Common Stock, $0.01 par value | &nbsp;&nbsp;"SOI" | &nbsp;&nbsp;New York Stock Exchange |

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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ◻

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ◻

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| | |
|:---|:---|
| **Item 5.02.** | **Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers** |

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On March 1, 2023, Solaris Oilfield Infrastructure, Inc. (the "Company") approved the Solaris Oilfield Infrastructure, Inc. Executive Change in Control Severance Plan (the "Plan"), effective March 1, 2023, covering the employees designated by the Compensation Committee of the Board of Directors of the Company, which include the Chief Executive Officer, other named executive officers and certain other key executives and employees. Capitalized terms and phrases used but not defined herein will have the respective meanings given to them in the Plan.

Under the Plan, if the Company terminates a Participant's employment with the Company or any Affiliate without Cause or upon the Participant's resignation for Good Reason during the 90 days prior to or 12-month period following a Change in Control, then the Participant is eligible to receive the following Severance Benefits:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Severance payable in a lump sum in an amount equal to a multiplier of either 2.5 or 3.0 (based on the Participant's tier in
the Plan (the "Tier")) multiplied by the sum of (A) the Participant's annual Base Salary and (B) the Participant's
target annual bonus for the year in which the Termination Date occurs, payable within sixty (60) days of the Termination Date;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· An additional lump sum payment equal to 18 or 24 (based on the Participant's Tier) times the monthly premium for the Participant's
and his or her dependents' participation in the Company's group health plans pursuant to the Consolidated Omnibus Budget Reconciliation
Act of 1985, as amended, less the amount of employee contributions that would apply to such participation if the Participant were an active
employee, each determined as of the Termination Date, payable within sixty (60) days following the Termination Date;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Payment of any earned but unpaid annual bonus, if any, for the fiscal year preceding the fiscal year in which the Termination Date
occurs, payable on the date when bonuses are paid to the Company's executives for such fiscal year and in all events in the fiscal
year that includes the Termination Date, plus an additional lump sum payment equal to a pro-rata portion of the target annual bonus that
the Participant was eligible to earn for the fiscal year in which the Termination Date occurs, based on the number of days the Participant
was employed during such fiscal year, payable within sixty (60) days following the Termination Date; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Full vesting of all of the Participant's outstanding unvested restricted stock units (and any other outstanding and unvested
equity incentive awards); provided that, with respect to any PSUs, all performance goals or other vesting criteria will be deemed achieved
at the greater of (i) 100% of the target number of PSUs or (ii) the actual achievement applicable performance objectives for
such PSUs determined as of the Termination Date and all other terms and conditions will be deemed met.

A Participant's rights to any Severance Benefits under the Plan upon a Qualifying Termination are conditioned upon (i) the Participant executing and not revoking a valid separation and general release of claims agreement in a form acceptable to the Company (the "Release") and (ii) the Release becoming effective and irrevocable in accordance with its terms within sixty (60) days following the Participant's Termination Date.

The foregoing summary of the Plan is qualified in its entirety by reference to the full text of the Plan, a copy of which is attached as Exhibit 10.1 to this Current Report on Form 8-K and incorporated herein by reference.

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| | |
|:---|:---|
| **Item 9.01** | **Financial Statements and Exhibits.** |

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(d) Exhibits.

---

| | |
|:---|:---|
| **Exhibit <br> Number** | **Description** |
| [10.1](tm238761d1_ex10-1.htm) | [Form of Solaris Oilfield Infrastructure, Inc. Executive Change in Control Severance Plan, effective as of March 1, 2023.](tm238761d1_ex10-1.htm) |
| 104 | Cover Page Interactive Data File (formatted as inline XBRL). |

---

**SIGNATURE**

Pursuant to the requirements of the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: March 7, 2023

---

| | |
|:---|:---|
| **SOLARIS OILFIELD INFRASTRUCTURE, INC.** | **SOLARIS OILFIELD INFRASTRUCTURE, INC.** |
| By: | /s/ KYLE S. RAMACHANDRAN |
| Name: | Kyle S. Ramachandran |
| Title: | President and Chief Financial Officer |

---

## Exhibit 10.1

**Exhibit 10.1**

**SOLARIS OILFIELD INFRASTRUCTURE, INC.<br> EXECUTIVE CHANGE IN CONTROL SEVERANCE PLAN**

**1.** **Purpose**. The purpose of the Solaris Oilfield Infrastructure, Inc. Executive Change in Control Severance Plan (as amended from time to time, the "***Plan***") is to enable Solaris Oilfield Infrastructure, Inc., a Delaware corporation (the "***Company***"), to reinforce and encourage the continued attention and dedication of Participants (as defined below) to their assigned duties in the event the Company undergoes a Change in Control (as defined below).

**2.** **Term**. The Plan shall be effective as of March 1, 2023 (the "***Effective Date***"). The Plan shall remain in effect until modified or terminated pursuant to <u>Section 9</u>.

**3.** **Definitions**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) "  ***Affiliate***" has the meaning set forth in the Solaris Oilfield Infrastructure, Inc.
Long Term Incentive Plan, or any successor equity incentive plan adopted by the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) "  ***Base Pay***" means the Participant's annual base salary, determined as of
the Termination Date (as defined below), excluding overtime, bonuses, incentive compensation or any other special payments. Base Pay is
used to compute the amount of the Severance Benefit.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) "  ***Board***" means
the Board of Directors of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) "  ***Cause***" means, with respect to a Participant, a determination by the Company
in its sole discretion that the Participant has: (i) engaged in gross negligence or willful misconduct in the performance of the
Participant's duties with respect to the Company or an Affiliate, (ii) materially breached any material provision of any written
agreement between the Participant and the Company or an Affiliate or corporate policy or code of conduct established by the Company or
an Affiliate and applicable to the Participant; (iii) willfully engaged in conduct that is materially injurious to the Company or
an Affiliate; or (iv) been convicted of, pleaded no contest to or received adjudicated probation or deferred adjudication in connection
with, a felony involving fraud, dishonestly or moral turpitude (or a crime of similar import in a foreign jurisdiction).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) "  ***Change in Control*** "
has the meaning set forth in the Solaris Oilfield Infrastructure, Inc. Long Term Incentive Plan, or any successor equity incentive
plan adopted by the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) "  ***CIC Protection Period*** "
means the period commencing ninety (90) days prior to the Closing and ending on the date that is one year following the Closing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) "  ***Closing***" means
the date on which a Change in Control is consummated.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) "  ***COBRA***" means
the Consolidated Omnibus Budget Reconciliation Act of 1985.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) "  ***COBRA Multiplier***" means the applicable COBRA multiplier for the Participant's
Tier as set forth on <u>Exhibit A</u> and as specified in the Participation Agreement for such Participant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) "  ***Code***" means
the Internal Revenue Code of 1986 and any guidance and regulations promulgated thereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) "  ***Committee*** "
means the Compensation Committee of the Board or another duly constituted committee of the Board designated by the Board as the Committee
hereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) "  ***Disability***" shall occur upon the Participant becoming eligible for disability
benefits under the Company's long-term disability plan, or, if earlier, upon the Participant becoming eligible for Social Security
disability benefits.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m) "  ***Good Reason*** "
has the meaning ascribed to any such term in any employment agreement between the Participant and the Company, or if no such term is defined
in such agreement, means (i) a material diminution in the Participant's duties, authority or responsibilities from those in
effect immediately prior to a Change in Control; (ii) a material reduction in the Participant's total compensation opportunity
in effect immediately prior to a Change in Control; or (iii) a relocation of the Participant's principal place of employment
to a location that is more than 50 miles from his or her place of employment immediately prior to a Change in Control, provided that a
relocation from a principal place of employment that is not one of the Company's principal office locations to one of the Company's
principal office locations shall not constitute "Good Reason". Notwithstanding the foregoing, any assertion by the Participant
of a termination of employment for "Good Reason" shall not be effective unless all of the following conditions are satisfied:
(i) the Participant provides written notice to the Company of the condition claimed to constitute Good Reason within 90 days of the
initial existence of such condition and during the CIC Protection Period and (ii) the Company fails to remedy such condition within
30 days of receiving such written notice thereof; and provided, further, that in all events the termination of the Participant's
employment with the Company shall not be treated as a termination for "Good Reason" unless such termination occurs not more
than 12 months following the initial existence of the condition claimed to constitute "Good Reason."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n) "  ***Participant*** "
means an employee of the Company who participates in the Plan pursuant to <u>Section 4</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o) "  ***Qualifying Termination*** "
means a termination of the Participant's employment with the Company or any Affiliate by the Company without Cause (excluding by
reason of death or Disability) or by the Participant for Good Reason, in each case, during the CIC Protection Period.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(p) "  ***Severance Benefits*** "
means:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) A lump sum payment in an amount equal to the Participant's Severance Multiplier multiplied by the Participant's Base Pay, payable within sixty (60) days following the Termination Date;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) Payment of the Participant's earned but unpaid annual bonus, if any, for the fiscal year preceding the fiscal year in which the Termination Date occurs, payable on the date when bonuses for such fiscal year are otherwise paid to the Company's executives for such fiscal year and in all events in the fiscal year that includes the Termination Date;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) A lump sum payment in an amount equal to the Participant's Severance Multiplier multiplied by the Participant's target annual bonus for the fiscal year in which the Termination Date occurs, payable within sixty (60) days following the Termination Date;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) A lump sum payment in an amount equal to a pro-rata portion of the target annual bonus that the Participant was eligible to earn for the fiscal year in which the Termination Date occurs, based on the number of days the Participant is employed during such fiscal year, payable within sixty (60) days following the Termination Date;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) A lump sum payment in an amount equal to (A) the Participant's COBRA Multiplier times (B) the monthly premiums for the Participant's and the Participant's covered dependents' participation in the Company's group health plans pursuant to COBRA, less the amount of employee contributions that would apply to such participation if the Participant were an active employee, each determined as of the Termination Date, payable within sixty (60) days following the Termination Date; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi) Effective as of the Termination Date, all of the Participant's outstanding unvested restricted stock units (and any other outstanding and unvested equity incentive awards) shall become immediately vested and no longer subject to forfeiture. With respect to any performance-based restricted stock units ("***PSUs***"), all performance goals or other vesting criteria will be deemed achieved at the greater of: (i) 100% of the target number of PSUs, or (ii) the actual achievement of applicable performance objectives for such PSUs determined as of the Termination Date, and all other terms and conditions will be deemed met.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(q) "  ***Severance Multiplier***" the applicable severance multiplier for the Participant's
Tier as set forth on <u>Exhibit A</u> and as specified in the Participation Agreement for such Participant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(r) "  ***Termination Date***" means the date of the Participant's termination of
employment with the Company of any Affiliate as a result of a Qualifying Termination; provided that, if the Participant's Qualifying
Termination occurs within the ninety (90) day period prior to the Closing, the Termination Date for all purposes relating to the payment
date associated with the Severance Benefits shall be deemed to be the date of the Closing.

**4.** **Eligibility**. Employees selected by the Committee shall be eligible to participate in the Plan upon execution of a Participation Agreement with the Company in the form attached hereto as <u>Exhibit B</u> (a "***Participation Agreement***").

**5.** **Severance Benefits**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Qualifying Termination</u>. Upon a Participant's Qualifying Termination, subject to <u>Section 5(c)</u>,
such Participant will receive the Severance Benefits.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Other Termination</u>. In the event that a Participant's employment is terminated, other than
as the result of a Qualifying Termination, then such Participant shall not be entitled to receive any payments or benefits under this
Plan. For the avoidance of doubt, a Participant shall not be entitled to receive any payments or benefits under this Plan in the event
that such Participant's employment is terminated by the Company for Cause or such Participant resigns without Good Reason (including
as a result of a retirement), such Participant dies, such Participant terminates employment as a result of Disability or such Participant's
termination of employment occurs for any reason outside of the CIC Protection Period.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Conditions to Severance Benefits</u>. Payment of the Severance Benefits shall be subject to (i) the
Participant's execution (and non-revocation) of a general release of claims in a customary form reasonably provided by the Company
(the "  ***Release***") within the time period specified therein, and (ii) the Release becoming effective and irrevocable
in accordance with its terms within sixty (60) days following the Participant's Termination Date.

**6.** **Administration**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) In the event of any conflict or inconsistency between another document and the terms of the Plan, the
terms and conditions of the Plan shall govern and control except as expressly provided for otherwise in such other document; provided,
however, that a Participant's Participation Agreement will govern their participation in the Plan to the extent of any conflict
between a Participation Agreement and the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Plan shall be administered by the Committee in its sole and absolute discretion, and all determinations
by the Committee shall be final, binding and conclusive on all parties and be given the maximum possible deference allowed by law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The Committee shall have the authority, consistent with the terms of the Plan, to (i) designate Participants,
(ii) determine the terms and conditions relating to the Severance Benefit, if any, (iii) interpret, administer, reconcile any
inconsistency, correct any defect and/or supply any omission in the Plan, (iv) establish, amend, suspend or waive any rules and
procedures with respect to the Plan, and (v) make any other determination and take any other action that the Committee deems necessary
or desirable for administration of the Plan, including, without limitation, the timing and amount of payments. The Committee may delegate
to one or more of the officers of the Company the authority to act on behalf of the Committee.

**7.** **Funding**. The obligations of the Company under the Plan are not funded through contributions to a trust or otherwise, and all benefits shall be payable from the general assets of the Company. Nothing contained in the Plan shall give a Participant any right, title or interest in any property of the Company. Participants shall be mere unsecured creditors of the Company.

**8.** **Section 409A**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Compliance</u>. Notwithstanding anything
herein to the contrary, this Plan is intended to be interpreted and applied so that the payments and benefits set forth herein either
shall be exempt from the requirements of Section 409A of the Code or shall comply with the requirements of Section 409A of the
Code, and accordingly, to the maximum extent permitted, this Plan shall be interpreted to be exempt from or in compliance with Section 409A
of the Code. To the extent that the Company determines that any provision of this Plan would cause a Participant to incur any additional
tax or interest under Section 409A of the Code, the Company shall be entitled to reform such provision to attempt to comply with
or be exempt from Section 409A of the Code. To the extent that any provision hereof is modified in order to comply with Section 409A
of the Code, such modification shall be made in good faith and shall, to the maximum extent reasonably possible, maintain the original
intent and economic benefit to Participants and the Company without violating the provisions of Section 409A of the Code. Notwithstanding
any of the foregoing to the contrary, none of the Company or its subsidiaries or affiliates or any of their officers, directors, members,
employees, agents, advisors, predecessors, successors, or equity holders shall have any liability for the failure of this Plan to be exempt
from, or to comply with, the requirements of Section 409A of the Code. Each payment and/or benefit provided hereunder shall be a
payment in a series of separate payments for purposes of Section 409A of the Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Separation from Service</u>. Notwithstanding
anything in this Plan to the contrary, a termination of employment shall not be deemed to have occurred for purposes of any provision
of this Plan unless such termination is also a "separation from service" within the meaning of Section 409A of the Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Specified Employee</u>. Notwithstanding
anything in this Plan to the contrary, if a Participant is deemed to be a "specified employee" within the meaning of Section 409A
of the Code, any payments or benefits due upon a termination of Participant's employment under any arrangement that constitutes
a "deferral of compensation" within the meaning of Section 409A of the Code (whether under this Plan or any other plan,
program or payroll practice) and which do not otherwise qualify under the exemptions under Treasury Regulations Section 1.409A-1
(including the short-term deferral exemption and the permitted payments under Treasury Regulations Section 1.409A-1(b)(9)(iii)(A)),
shall be delayed and paid or provided to Participant in a lump sum on the earlier of (i) the date which is six months and one day
after Participant's "separation from service" (as such term is defined in Section 409A of the Code) for any reason
other than death, and (ii) the date of Participant's death.

**9.** **Amendment or Termination**. Except as otherwise provided in the applicable Participation Agreement, prior to a Closing, the Committee may amend or terminate the Plan at any time, without notice, and for any or no reason, except as prohibited by law. During the CIC Protection Period or at any time during the twelve (12) months thereafter, the Company and the Committee may not, without a Participant's written consent, amend or terminate the Plan in any way, nor take any other action, that (i) prevents that Participant from becoming eligible for the Severance Benefits under the Plan, or (ii) reduces or alters to the detriment of the Participant the Severance Benefits payable, or potentially payable, to a Participant under the Plan (including imposing additional conditions).

**10.** **At-Will Employment**. Nothing in this Plan or any other act of the Company shall be considered effective to change a Participant's status as an at-will employee or guarantee any duration of employment. Either the Company or a Participant may terminate the employment relationship at any time, for any reason or no reason, and with or without advance notice.

**11.** **Transfer and Assignment**. In no event may any Participant sell, transfer, anticipate, assign or otherwise dispose of any right or interest under the Plan. At no time will any such right or interest be subject to the claims of creditors nor liable to attachment, execution, or other legal process. In no event may the Company assign its obligations under the Plan, except as provided in <u>Section 13</u> or to a person or entity which is a credit-worthy affiliate.

**12.** **Severability**. If any provision of the Plan is held invalid or unenforceable, its invalidity or unenforceability will not affect any other provision of the Plan, and the Plan will be construed and enforced as if such provision had not been included.

**13.** **Successors**. Any successor to the Company of all or substantially all of the Company's business and/or assets (whether direct or indirect and whether by purchase, merger, consolidation, liquidation or other transaction) shall assume the obligations under the Plan and agree expressly to perform the obligations under the Plan in the same manner and to the same extent as the Company would be required to perform such obligations in the absence of a succession. For all purposes under the Plan, the term "Company" will include any successor to the Company's business and/or assets which become bound by the terms of the Plan by operation of law, or otherwise.

**14.** **Withholding; Taxes**. The Company shall withhold from any Severance Benefits all federal, state and local income or other taxes required to be withheld therefrom and any other required payroll deductions.

**15.** **Compensation**. Benefits payable hereunder shall not constitute compensation under any other plan or arrangement, except as expressly provided in such plan or arrangement.

**16.** **Interpretation**. Titles and headings to Sections hereof are for the purpose of reference only and shall in no way limit, define or otherwise affect the provisions hereof. Unless the context requires otherwise, all references to laws, regulations, contracts, agreements, plans and instruments refer to such laws, regulations, contracts, agreements, plans and instruments as they may be amended from time to time, and references to particular provisions of laws or regulations include a reference to the corresponding provisions of any succeeding law or regulation. All references to "dollars" or "$" in the Plan refer to United States dollars. The word "or" is not exclusive. The words "herein", "hereof", "hereunder" and other compounds of the word "here" shall refer to the entire Plan, including all Exhibits attached hereto, and not to any particular provision hereof. Wherever the context so requires, the masculine gender includes the feminine or neuter, and the singular number includes the plural and conversely. All references to "including" shall be construed as meaning "including without limitation."

**17.** **Entire Agreement**. This Plan and the Participation Agreements represent the entire agreement of the Company and the Participants with respect to the subject matter hereof and supersede all prior understandings, whether written or oral. This Plan replaces any and all severance pay plans, policies, practices, agreements, arrangements or programs, written or unwritten, that the Company or any predecessor employer of the Company may have had in effect for eligible Participants from time to time prior to the Effective Date.

**18.** **Governing Law**. The provisions of the Plan will be construed, administered, and enforced in accordance with the laws of the State of Texas without regard to its choice of law provisions.

**19.** **Certain Excise Taxes**. Notwithstanding anything to the contrary in this Plan, if a Participant is a "disqualified individual" (as defined in Section 280G(c) of the Code), and the Severance Benefit provided for under this Plan, together with any other payments and benefits which the Participant has the right to receive from the Company, would constitute a "parachute payment" (as defined in Section 280G(b)(2) of the Code), then the Severance Benefit provided for under this Plan shall be either (a) reduced (but not below zero) so that the present value of such total amounts and benefits received by the Participant from the Company will be one dollar ($1.00) less than three times the Participant's "base amount" (as defined in Section 280G(b)(3) of the Code) and so that no portion of such amounts and benefits received by the Participant shall be subject to the excise tax imposed by Section 4999 of the Code, or (b) paid in full, whichever produces the better net after-tax position to the Participant (taking into account any applicable excise tax under Section 4999 of the Code and any other applicable taxes). The determination as to whether any such reduction in the amount of the payments provided hereunder is necessary shall be made by a nationally recognized accounting or consulting firm selected by the Company in good faith. If a reduced payment is made or provided and through error or otherwise that payment, when aggregated with other payments and benefits from the Company used in determining if a parachute payment exists, exceeds one dollar ($1.00) less than three times the Participant's base amount, then the Participant shall immediately repay such excess to the Company upon notification that an overpayment has been made. Nothing in this Plan shall require the Company to be responsible for, or have any liability or obligation with respect to, the Participant's excise tax liabilities under Section 4999 of the Code.

[Remainder of Page Intentionally Left Blank]

**<u>EXHIBIT A</u>**

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| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Tier** | &nbsp;&nbsp;**Qualifying Termination** | &nbsp;&nbsp;**Qualifying Termination** |
| &nbsp;&nbsp;**Tier** | &nbsp;&nbsp;**Severance Multiplier** | &nbsp;&nbsp;**COBRA Multiplier** |
| &nbsp;&nbsp;Tier 1 | &nbsp;&nbsp;3.00 | &nbsp;&nbsp;24 |
| &nbsp;&nbsp;Tier 2 | &nbsp;&nbsp;2.50 | &nbsp;&nbsp;18 |
| &nbsp;&nbsp;Tier 3 | &nbsp;&nbsp;2.00 | &nbsp;&nbsp;12 |
| &nbsp;&nbsp;Tier 4 | &nbsp;&nbsp;1.00 | &nbsp;&nbsp;12 |

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**<u>EXHIBIT B</u>**

**SOLARIS OILFIELD INFRASTRUCTURE, INC.<br> EXECUTIVE CHANGE IN CONTROL SEVERANCE PLAN**

**FORM OF PARTICIPATION AGREEMENT**

This Participation Agreement (this "***Agreement***") is made and entered into by and between [●] (the "***Participant***") and Solaris Oilfield Infrastructure, Inc. (the "***Company***") effective as of ______________, 20____ (the "***Effective Date***").

The Company maintains the Solaris Oilfield Infrastructure, Inc. Executive Change in Control Severance Plan (as amended from time to time, the "***Plan***"). Capitalized terms used but not defined in this Agreement have the meanings ascribed to them in the Plan. The Plan provides severance payments and benefits in connection with a participant's Qualifying Termination.

By signing this Agreement, the Participant acknowledges and agrees that the Participant has read and understands all of the terms of the Plan and this Agreement and that the Participant agrees to participate in the Plan with a Tier [__] Severance Multiplier and COBRA Multiplier. The Participant acknowledges and agrees that such participation is subject to the terms and conditions of the Plan.

**Miscellaneous:**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) This Agreement shall be governed in all respects by the laws of the State of Texas without regard to the
principles of conflict of law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) This Agreement may be executed in two or more counterparts, each of which shall be deemed an original,
but all of which together shall constitute one and the same instrument.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) This Agreement and the Plan represent the entire agreement between the parties with respect to the subject
matter hereof and may not be amended except in a writing signed by the Company and the Participant. If any dispute should arise under
this Agreement, it shall be settled in accordance with the terms of the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) This Agreement shall be binding on the executors, heirs, administrators, successors and assigns of the
Participant and the successors and assigns of Company and shall inure to the benefit of the respective executors, heirs, administrators,
successors and assigns of the Company.

[Signature page follows.]

IN WITNESS WHEREOF, the Participant and the Company hereto have executed this Agreement effective of the date set forth above.

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| |
|:---|
| **SOLARIS OILFIELD INFRASTRUCTURE, INC.** |
| Name: |
| Title: |
| Date: |
| **PARTICIPANT** |
| Name: |
| Date: |

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Signature Page To <br> Participation Agreement