Document:

exhibit1019.htm

    EXHIBIT
10.19

    

    AMENDMENT TO EMPLOYMENT
AGREEMENT

    

    

    This Amendment to Employment Agreement
(this “Amendment”) is effective as of January 1, 2009, by and between PICO Holdings, Inc., a
diversified holding company formed under the laws of the state of California
(the “Company”), and John R.
Hart, an individual (“Employee”).

     

    RECITALS

    

    WHEREAS, the Company and Employee
entered into a certain written Employment Agreement dated and effective as of
May 7, 2007 (the “Agreement”);

    WHEREAS, in accordance with Section 14
of the Agreement, the Company has determined that modifications to the Agreement
are necessary to facilitate compliance with the requirements of Section 409A of
the United States Internal Revenue Code of 1986, as amended (“Section 409A”);
and

    WHEREAS, pursuant to Section 14 of the
Agreement, the Company and Employee agreed to cooperate and assist one another
in order to adopt and implement such modifications.

    NOW THEREFORE, in consideration of the
foregoing, and their mutual promises contained herein, the parties agree to
amend the Agreement to comply with the provisions of Section 409A as more
specifically provided herein below.

     

    
      	
              1.  

            	
              Section
      3. Compensation
      shall be amended as follows:

            

    

    

    
      	
              a.  

            	
              Subsection
      3B. Incentive
      Award shall be amended by adding the following to the end of the
      last sentence:

            

    

    
      	
               
      

            	
              “,
      within 2-1/2 months after the end of the fiscal year in which Employee
      performed the services to which the Incentive Award
    relates.”

            

    

    

    
      	
              b.  

            	
              Subsection
      3C. Stock
      Appreciation Rights shall be amended by adding the following to the
      end of the subsection:

            

    

    
      	
               
      

            	
              “The
      stock appreciation rights shall be exercised in accordance with the terms
      of the stock appreciation award.  In compliance with Section
      409A, the compensation payable under such stock appreciation rights cannot
      be greater than (1) the excess of the fair market value of such rights on
      the date of exercise, as determined by the closing market price on the
      NASDAQ Global Market on such date, over (2)  the exercise price
      described herein.  Notwithstanding the foregoing, the Company
      may, in its sole discretion, determine the fair market value of the stock
      appreciation rights at exercise using any other reasonable valuation
      method that also complies with Section
409A.”

            

    

    

    
      	
              2.  

            	
              Section
      5.  Death or Disability of
      Employee shall be amended by adding the following sentence to the
      end of the section:

            

    

    

    
      	
              a.  

            	
              “Any
      payment made in accordance with this Section 5 shall be paid no later
      than  2-1/2 months after the end of the year in which occurs
      Employee’s termination of employment for whatever reason described
      hereunder.”

            

    

    

    
      	
              3.  

            	
              Section
      6.  Termination by
      Employee shall be amended by adding the following sentence to the
      end of the section:

            

    

    

    
      	
              a.  

            	
              “Any
      payment made in accordance with this Section 6 shall be paid no later
      than  2-1/2 months after the end of the year in which occurs
      Employee’s termination of employment described
  hereunder.

            

    

    

    
      	
              4.  

            	
              Section
      19.  Compliance with Code
      409A shall be added to the Agreement as follows in its
      entirety:

            

    

    

    
      	
              a.  

            	
              This
      Agreement is intended to comply with, or otherwise be exempt from, Code
      Section 409A.

            

    

    

    
      	
              b.  

            	
              The
      Company shall undertake to administer, interpret and construe this
      Agreement in a manner that does not result in the imposition on Employee
      of any additional tax, penalty, or interest under Code Section
      409A.  This provision shall not be construed as a guarantee by
      the Company of any particular tax effect to Employee under this
      Agreement.  The Company shall not be liable to Employee for any
      payment made under this Agreement that is determined to result in an
      additional tax, penalty, or interest under Code Section 409A, nor for
      reporting in good faith any payment made under this Agreement as an amount
      includible in gross income under Code Section
  409A.

            

    

    

    
      	
              c.  

            	
              “Termination
      of employment”, or words of similar import, as used in this Agreement
      means, for purposes of any payments under this Agreement that are payments
      of deferred compensation subject to Code Section 409A, the employee’s
      “separation from service” as defined in Code Section
  409A.

            

    

    

    
      	
              d.  

            	
              Notwithstanding
      any other provisions herein, if a payment obligation under this Agreement
      arises on account of Employee’s separation from service while the Employee
      is a “specified employee” (as defined under Code Section 409A and
      determined in good faith by the Company), any payment of deferred
      compensation subject to Code Section 409A, after giving effect to any
      exemptions provided thereunder, that is scheduled to be paid within six
      (6) months after such separation from service shall be paid within fifteen
      (15) days after the end of the six (6) month period beginning on the date
      of such separation from service, or, if earlier, within fifteen (15) days
      after the appointment of the personal representative or executor of
      Employee’s estate following his
death.

            

    

    
IN
WITNESS WHEREOF, the parties hereto have executed this Agreement on December 23,
2008, effective as of January 1, 2009.

    

    

    PICO
HOLDINGS, INC.

    

    /s/  James F. Mosier_

    Name

    

    General Counsel and
Secretary

    Title

    

    

    EMPLOYEE:

    

    /s/John R.
Hart_____________

    John
R. Hartex10_12.htm

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    Exhibit
10.12

    

    Summary
Description of the Compensation of

    Non-Employee
Directors of TETRA Technologies, Inc.

    
      

        On
February 26, 2009, the Board of Directors, as part of the Company’s current
efforts to reduce costs and expenses, approved a 20% reduction of the monthly
cash retainers and meeting fees paid to directors who are not officers or
employees of TETRA Technologies, Inc. (Non-Employee Directors), to be effective
as of March 1, 2009. Directors who are also officers or employees of TETRA
Technologies, Inc. (the Company) do not receive any compensation for duties
performed as Directors.

        

        Director Fees. Prior
to March 1, 2009, each Non-Employee Director other than Ralph S. Cunningham, the
Company’s Chairman of the Board, received the following cash
compensation:

         

        
          	
                  ·  

                	
                  Monthly cash
      retainers of $2,500.

                

        

         

        
          	
                  ·  

                	
                  Meeting fees
      of $1,500 for each Board meeting attended. In addition, members of the
      Audit Committee, Management and Compensation Committee, Nominating and
      Corporate Governance Committee and Reserves Committee receive meeting fees
      of $1,500 for each committee meeting attended. All meeting fees are
      payable on the date of the meeting.

                

        

         

        Prior to March 1,
2009, Mr. Cunningham received a monthly cash retainer of $8,333 for serving as
the Company’s Chairman of the Board. An additional annual cash retainer of
$7,500 was paid to the chairmen of the Management and Compensation Committee,
the Nominating and Corporate Governance Committee and the Reserves Committee. An
additional annual cash retainer of $14,000 was paid to the chairman of the Audit
Committee. All additional cash amounts were payable in quarterly
installments.

         

        Following the March
1, 2009 reduction in retainers and fees, each Non-Employee Director other than
Ralph S. Cunningham will receive the following cash compensation:

         

        
          	
                  ·  

                	
                  Monthly cash
      retainers of $2,000.

                

        

         

        
          	
                  ·  

                	
                  Meeting fees
      of $1,200 for each Board meeting attended. In addition, members of the
      Audit Committee, Management and Compensation Committee, Nominating and
      Corporate Governance Committee and Reserves Committee will receive meeting
      fees of $1,200 for each committee meeting attended. All meeting fees are
      payable on the date of the meeting.

                

        

         

        After March 1,
2009, Mr. Cunningham will receive a monthly cash retainer of $6,667. Mr.
Cunningham receives no additional compensation for attending meetings of the
committees or the board. An additional annual cash retainer of $6,000 is paid to
the chairmen of the Management and Compensation Committee, the Nominating and
Corporate Governance Committee and the Reserves Committee. An additional annual
cash retainer of $11,200 is paid to the chairman of the Audit Committee. All
additional cash retainer amounts are payable in quarterly
installments.

        

        Equity Compensation.
Commencing in January of 2008, each Non-Employee Director, including Mr.
Cunningham, received an additional $8,333 per month in cash, in lieu of a
portion of the annual award of equity received in prior years. On May 20, 2008,
in conjunction with broad-based awards made to eligible employees of the Company
and in accordance with the procedures of the Management and Compensation
Committee, each Non-Employee Director, including Mr. Cunningham, received an
award of 4,740 shares of restricted stock with an aggregate grant date fair
market value of $100,014. One-quarter of the shares of restricted stock so
awarded vested on June 1, 2008, and the remaining shares vested in equal
portions on September 1 and December 1, 2008, and March 1, 2009. Accordingly,
effective June 1, 2008, the additional monthly cash payment of $8,333 was
discontinued. It is anticipated that future compensation arrangements approved
by the board will include awards of grants of approximately $100,000 in value of
restricted stock to each Non-Employee Director on an annual basis, to be awarded
on or about May 20 of each year. However, for 2009, the Board has discussed the
possibility of paying a portion of this value in the form of cash, if it deems
that a sufficient number of shares of restricted stock are not available to be
used at that time.

        

            Reimbursement of Expenses. All
Non-Employee Directors are reimbursed for out-of-pocket travel expenses incurred
in attending meetings of the Board and committees (including travel expenses of
spouses if they are invited by the Company). Additionally, Non-Employee
Directors traveling from out of state to Board or committee meetings receive a
$750 travel stipend.

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