Document:

Summary of Executive Officer and Non-employee Director Compensation

 Exhibit 10.5 
 Summary of Executive Officer and Non-employee Director Compensation 
 Set forth below is a summary of
the compensation paid by Dril-Quip, Inc. (the “Company”) to its executive officers and non-employee directors as of the date of filing of the Company’s Annual Report on Form 10-K. For more information regarding executive officer and
director compensation, please read “Director Compensation,” “Executive Compensation,” and “Corporate Governance Matters—Related Person Transactions—Employment Agreements” contained in the Company’s proxy
statement for its 2007 Annual Meeting of Stockholders to be filed with the SEC pursuant to Regulation 14A. 
 Executive Officers 
 Each of the Company’s Co-Chief Executive Officers (the “Co-CEOs”) are compensated in accordance with the employment agreements entered into
with the Company prior to the closing of the Company’s initial public offering. Each of these agreements provides for an annual base salary, as well as an annual performance bonus for each 12-month period based on (i) the Company’s
performance in the 12-month period ending December 31 against the Company’s annual budget and (ii) the Company’s return on capital compared to that of a peer group of companies for the 12-month period ending September 30. In
addition, each agreement provides for an annual grant of a number of options under the Company’s incentive plan equal to the employee’s base salary multiplied by three and divided by the market price of the Company’s Common Stock on
the grant date. The employment agreements give the Nominating, Governance and Compensation Committee the discretion to increase the annual performance bonus and the annual option grant above the amounts determined for such awards pursuant to the
terms of the employment agreements. Each agreement also requires the Company to maintain a flexible perquisites spending account in the amount of $25,000 each year for each of the Co-CEOs for use in paying for membership dues, costs associated with
purchasing or leasing an automobile, financial counseling, tax return preparation and mobile phones. The Company is required to pay the unused and remaining balances of such accounts annually to the Co-CEOs. 
 Effective October 9, 2006 each Co-CEO currently receives a base salary of $515,000. The Nominating, Governance and Compensation Committee is
expected to determine each Co-CEO’s annual performance bonus for the 2006 bonus period in March 2007. In October 2006, the Nominating, Governance and Compensation Committee granted options to purchase 39,645 shares of common stock to each of
the Co-CEOs. 
 The Company’s Chief Financial Officer (the “CFO”) is compensated with a base salary and annual bonus as
determined by the Co-CEOs. Effective May 22, 2006 the CFO currently receives a base salary of $200,000. The Nominating, Governance and Compensation Committee is expected to determine the CFO’s annual performance bonus for the 2006 bonus
period in March 2007. In October 2006, the Nominating, Governance and Compensation Committee granted options to purchase 10,000 shares of common stock to the CFO. 
 Non-Employee Directors 
 The Company’s non-employee directors receive an annual fee of $50,000, plus a fee of $1,000 for
attendance at each Board of Directors meeting and $1,000 for each committee meeting, unless the committee meeting is held on the same day as the Board of Directors meeting. All directors are reimbursed for their out-of-pocket expenses and other
expenses incurred in attending meetings of the Board or committees thereof and for other expenses incurred in their capacity as directors.Form of Restricted Stock Award

 Exhibit 10.11 
 CHRW Management Restricted Stock Program 
 C.H. Robinson Worldwide, Inc. (the “Company”) is
permitted under the terms of its 1997 Omnibus Stock Plan to issue its shares and other derivative securities to employees at various times and in various forms. The Company has also established a nonqualified, defined contribution plan of deferred
compensation for the benefit of certain eligible employees known as the “Robinson Companies Nonqualified Deferred Compensation Plan” (the “Deferred Compensation Plan”). The Deferred Compensation Plan provides, in part, that the
Company may, in its sole discretion, make discretionary credits to the account of a participant, subject to such terms and conditions established by the Company. 
 Program Outline 
  

	1.	Participant’s account in the Deferred Compensation Plan will be credited with restricted stock of the Company. 

  

	2.	Beginning on December 31, 2006, and on each December 31 thereafter through December 31, 2010, a portion of the restricted shares will vest, but only if and only to
the extent that the Company’s Vesting Indicator (VI) is greater than zero for the respective year, as determined by the Compensation Committee of the Company’s Board of Directors. The VI is defined as the sum of 5 percentage points plus
the average of the following items (A) and (B) rounded to the nearest whole percentage: (A) the percentage increase of Company income from operations for the current year over the prior year rounded to two decimals and (B) the
percentage increase in Company diluted net income per share for the current year over the prior year rounded to two decimals. 

 Example 
  

										
	 	  	Prior Year	  	Current Year	  	Percentage
Increase	 
	 Income from Operations (A)
	  	$	156,580,000	  	$	178,501,200	  	14.00	%
	 Diluted EPS (B)
	  	 	1.12	  	 	1.29	  	15.18	%
		  			  			  	 	 
	 Average Percentage Increase of (A) and (B)
	  			  			  	14.59	%
				
	 Add: 5 Percentage Points
	  			  			  	19.59	%
				
	 Rounded to the Nearest Whole Percentage
	  			  			  	VI=20.00	%

  

	3.	In determining how many shares are vested at the end of each year, the VI is multiplied by the original restricted stock grant and then rounded to the nearest whole share.

 Example 
  

										
	 	  	Year 1	 	 	Year 2	 	 	Year 3	 
	 Restricted Stock Grant: 1,333 shares VI:
	  	20	%	 	12	%	 	26	%
	 Rounded Number of Shares Vested on Dec. 31:
	  	267	 	 	160	 	 	347	 

  

	4.	The Compensation Committee’s calculation of VI shall be final, and the Compensation Committee retains the discretion to eliminate unusual items, if any, for purposes of
calculating the VI for any particular year. 

  

			
	 CHRW Management Restricted Stock Program
	 	

	5.	Participant’s restricted stock will vest only while the Participant is employed by the Company. A Participant must be an employee of the Company on December 31 of a
particular year in order to vest in any shares for that year. If a Participant’s employment is terminated, whether voluntarily or involuntarily, prior to vesting of any restricted stock, any shares remaining unvested as of the date of
termination will be forfeited and deleted from Participant’s account, and the Participant will retain no rights with respect to the forfeited shares. Vesting will not be accelerated on account of death or disability. 

 

	6.	Participant’s restricted stock may vest pursuant to paragraph 2 above with respect to this award for up to 5 years (and may vest in less than 5 years if the VI during such time
period is sufficiently high enough). Any shares remaining unvested after December 31, 2010 will be forfeited and deleted from Participant’s account, and the Participant will retain no rights with respect to the forfeited shares.

  

	7.	Notwithstanding the foregoing, Participants who embezzle or misappropriate Company funds or property, or who fail to comply with the terms and conditions of any of the following
agreements which they may have executed in favor of the Company: i) Confidentiality and Noncompetition Agreement, ii) Management-Employee Agreement, iii) Sales-Employee Agreement, iv) Data Security Agreement, or v) any other agreement containing
post-employment restrictions, will automatically forfeit all restricted stock awarded, whether vested or unvested, and will retain no rights with respect to such shares. 

  

	8.	Vested shares shall be delivered to Participant from the Deferred Compensation Plan in a lump sum upon the earlier of: two years after termination of employment or January 2013.

  

	9.	Restricted stock may not be sold, exchanged, assigned, transferred, discounted, pledged or otherwise disposed of at any time prior to delivery of the vested shares from the Deferred
Compensation Plan. Participant will be entitled to receive dividend equivalents on the shares of restricted stock credited to Participant’s account, whether vested or unvested, when and if dividends are declared by the Company’s Board of
Directors on the Company’s common stock, in an amount of cash per share equal to and on the same payment dates as other common stockholders of the Company. Dividend equivalents paid before delivery of the shares from the Deferred Compensation
Plan will be treated as compensation income for tax purposes and will be subject to income and payroll tax withholding by the Company. 

  

	10.	In order to comply with all applicable federal or state income tax laws or regulations, at the time that the shares are delivered to the Participant, the Company will withhold taxes
based on the Fair Market Value of the shares at the time of delivery. In order to satisfy any such tax withholding obligation, the Company will withhold a portion of the shares otherwise to be delivered with a Fair Market Value equal to the amount
of such taxes. “Fair Market Value” for a share shall mean the last sale price of a share of the Company’s common stock on the Nasdaq National Market (or other national securities exchange on which the Company’s common stock is
then listed) on the trading date immediately preceding the date the shares are delivered to the Participant. If the Company’s common stock is not then traded in an established securities market, the Compensation Committee of the Board of
Directors shall determine Fair Market Value in accordance with the 1997 Omnibus Stock Plan. 

  

	11.	This restricted stock award shall confer no rights of continued employment to the Participant, nor will it interfere in any way with the right of the Company to terminate such
employment at any time. The Company retains all rights to enforce any other agreement or contract that the Company has with the Participant. 

  

			
	 CHRW Management Restricted Stock Program
	 	

	12.	If there shall be any change in the Company’s common stock through merger, consolidation, reorganization, recapitalization, dividend in the form of stock (of whatever amount),
stock split or other change in the corporate structure of the Company, appropriate adjustments shall be made in the number of restricted shares that are vested or unvested under this agreement in order to prevent dilution or enlargement of rights.

  

	13.	In the event of a Change in Control, the Compensation Committee may, in its discretion, accelerate the vesting of the restricted shares. A “Change in Control” shall be
deemed to occur on the date (i) a public announcement [which, for purposes of this definition, shall include, without limitation, a report filed pursuant to Section 13(d) of the Securities Exchange Act of 1934, as amended] is made by the
Company or any Person (as defined below) that such Person beneficially owns more than 50% of the Common Stock outstanding, (ii) the Company consummates a merger, consolidation or statutory share exchange with any other Person in which the
surviving entity would not have as its directors at least 60% of the Continuing Directors (as defined below) and would not have at least 60% of its common stock owned by the common shareholders of the Company prior to such merger, consolidation or
statutory share exchange, (iii) a majority of the Board of Directors is not comprised of Continuing Directors or (iv) a sale or disposition of all or substantially all of the assets of the Company or the dissolution of the Company. A
“Continuing Director” is a director recommended by the Board of Directors of the Company for election as a director of the Company by stockholders. “Person” means any individual, firm, corporation or other entity, and shall
include any successor (by merger or otherwise) of such entity. 

  

	14.	This restricted stock award is made pursuant to the Deferred Compensation Plan and the Company’s 1997 Omnibus Stock Plan and is subject to the terms of such plans. Participant
may request a copy of either or both plans from the Company. By participating in the CHRW Management Restricted Stock Program, Participant shall be deemed to have accepted all the conditions of the Deferred Compensation Plan and the 1997 Omnibus
Stock Plan and this agreement, and the terms and conditions of any rules adopted by the Committee (as defined in the 1997 Omnibus Stock Plan) and shall be fully bound thereby. This agreement shall be construed under the laws of the state of
Minnesota. 

  

			
	 CHRW Management Restricted Stock Program

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