Document:

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                                                                   Exhibit 10.38

              Summary of 2008 Named Executive Officer Compensation
              ----------------------------------------------------

     The table below shows the current annual salary and 2008 target bonus under
the Tenneco Inc. Value Added ("TAVA") Incentive Plan for the Company's Chief
Executive Officer, the Company's Chief Financial Officer and each of the next
three most highly compensated officers of the Company other than the Chief
Executive Officer or Chief Financial Officer (based on compensation received
during 2007).

<Table>
<Caption>

          Name                            Current Salary    2007 Target Bonus
          ----                            --------------    -----------------

<S>                                          <C>                 <C>
 Gregg Sherrill                              $950,000            $950,000
 Hari N. Nair                                $625,000            $468,750
 Kenneth R. Trammell                         $500,000            $350,000
 Neal A. Yanos                               $388,125            $232,875
 Timothy E. Jackson                          $393,300            $235,980
</Table><PAGE>

                                                                   EXHIBIT 10.67

                                  TENNECO INC.
                   LONG TERM PERFORMANCE UNIT AWARD AGREEMENT
                                                  (2008)
           , 2008

Dear Participant:

          Pursuant to the provisions of the Tenneco Inc. (the "Company") 2006
Long-Term Incentive Plan (the "Plan"), you were granted an Award (the "Award")
of ______ Long Term Performance Units (the "Units"), on           , 2008. The
Award covers calendar year 2008 (the "Performance Period").

     1.   Defined Terms.

          (a) "Total Shareholder Return or TSR" means, as to any given calendar
     year, the amount (expressed as a percentage) equal to (i) (A) the closing
     sales price of a share of the Company's common stock on the New York Stock
     Exchange ("NYSE") on the last business day of such year, minus (B) the
     closing sales price of a share of the Company's common stock on the NYSE on
     the last business day of the prior year, plus (C) the amount of any
     dividends per share of the Company's common stock declared during such year
     and paid, divided by (ii) the closing sales price of a share of the
     Company's common stock on the NYSE on the last business day of the prior
     year

          (b) "Stock Price" means the average of the closing prices of the
     Company's common stock on the NYSE for each of the ten NYSE trading days
     immediately following the Company's public announcement of its results of
     operations for the Performance Period (the "Average Period").

     2.   Performance and Award Settlement.

          (a) If the Company's TSR for the Performance Period is zero or a
     positive number, on December 31 of the Performance Period you will earn
     that amount of your Units that is equal to (i) the number of Units,
     multiplied by (ii) the Unit Payout Modifier as defined in and determined
     pursuant to Exhibit A to this Award; provided, however, that the maximum
     Unit Payout Modifier shall be 1.67. If the Company's TSR for the
     Performance Period does not equal or exceed zero, you will not earn any of
     your Units.

          (b) Following the end of the Performance Period, the Company will pay
     you cash in an amount equal to the total number of Units represented by
     this Award which you earned for the Performance Period, if any, times the
     cash value of one share of common stock of the Company. The cash value of a
     share of the Company's common stock will be equal to the Stock Price. The
     payment will be made no later than the next regularly scheduled payroll
     payment date that is at least five business days after the end of the
     Average Period; provided, however, that if the Company fails to announce
     publicly its results of operations for the Performance Period before
     February 15 of 2009, you may elect to receive your payment for the
     Performance Period on February 20 of 2009 based on an Average Period equal
     to the ten NYSE trading days ending two business days before that February
     20.

          (c) The provisions of this Paragraph 2 are subject to the provisions
     of any written employment agreement you may have with the Company and the
     Tenneco Inc. Change In Control Severance Benefit Plan for Key Executives or
     any successor thereto (as the same may be amended from time to time, the
     "Severance Plan").

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     3.   Committee Discretion to Amend Award.

          The Committee may amend or terminate this Award at any time in its
     sole discretion (a) to exercise downward discretion in the amount payable
     under this Award if the Committee determines that the payout yielded or
     that would be yielded by this Award for the Performance Period does not
     accurately reflect the Company's performance for the Performance Period
     because the payout is too great, (b) to reflect changes in the number of
     outstanding Long Term Performance Units (and similar awards) of the Company
     outstanding for the Performance Period (as compared to the number of such
     outstanding awards at the time when this Award Agreement was issued), and
     (c) to reflect the effects of any corporate transaction as contemplated by
     the Plan. Notwithstanding the foregoing, the Committee may not amend or
     terminate this Award in a manner that adversely impacts your payment under
     this Award at any time after your employment by Tenneco Inc. and its
     Subsidiaries terminates due to your Retirement, death or Total Disability
     (each as defined below).

     4.   Retirement, Death and Total Disability.

          Notwithstanding anything to the contrary contained herein or in any
     written employment agreement you may have with the Company (subject,
     however, to any applicable provisions of the Severance Plan and the
     provisions hereof related thereto), if your employment by Tenneco Inc. and
     its Subsidiaries terminates on or before the end of the Performance Period
     as a result of your Retirement, death or Total Disability, (A) you will be
     deemed to have earned 100% of the Units initially assigned to you under
     this Award and (B) within 60 days following such termination, you or your
     beneficiary will be entitled to receive a cash payment equal to the total
     number of Units initially assigned to you under this Award times the cash
     value of one share of common stock of the Company (which shall be equal to
     the average of the closing sales prices of the Company's common stock on
     the NYSE for the ten trading days immediately following such termination)
     and such amount shall be pro rated based upon your number of full months
     employed during the Performance Period as a percentage of the number of
     months in the Performance Period. For purposes hereof, the term
     "Retirement" means termination of your employment after you have met the
     eligibility requirements for early or normal retirement as established in
     accordance with the retirement plan of the Company or its Subsidiaries
     covering you at the time such termination occurs and the term "Total
     Disability" means your permanent and total disability as determined under
     the rules and guidelines established by the Company in order to qualify for
     long-term disability coverage under the Company's long-term disability plan
     in effect at the time of such determination.

     5.   Termination in Other Circumstances.

          Notwithstanding anything to the contrary contained herein (subject,
     however, to any applicable provisions of the Severance Plan or any written
     employment agreement you may have with the Company and the provisions
     hereof related thereto), if your employment with Tenneco Inc. and its
     Subsidiaries terminates on or before the end of the Performance Period
     other than as a result of your Retirement, death or Total Disability, you
     will forfeit the Units evidenced by this Award, unless the Committee
     determines otherwise.

     6.   Fair Market Value Payment in Certain Cases.

          If you are entitled to receive payment for the fair market value of
     this Award pursuant to the Plan or the Severance Plan, that fair market
     value will be equal to, at least, the amount you would have received

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     hereunder (based on the then-current fair market value of the Company's
     common stock as determined by reference to the average closing prices
     therefor on the NYSE for the ten trading days prior to the date on which
     you become entitled to payment) as if (1) your service had continued
     through the end of the Performance Period and (2) you had earned 100% of
     your Units.

     7.   Withholding Taxes.

          As set forth in the Plan, the Company shall be entitled to withhold
     from any payment due hereunder an amount sufficient to satisfy any federal,
     state, local or other withholding taxes.

     8.   Miscellaneous.

          As a condition of this Award, you are required to execute the
     acknowledgment at the bottom of the enclosed copy of this Award notice and
     return the acknowledged copy of this Award notice to the Human Resources
     Department of Tenneco Inc. not later than [DATE], [2008]. By accepting this
     Award, you agree and acknowledge that you have received and read the copy
     of the Plan and that you accept this Award subject to the terms and
     conditions of the Plan. The Units are transferable only by will, the laws
     of descent and distribution, pursuant to a qualified domestic relations
     order, or by designation of beneficiary in the event of death (enclosed).
     This Award is subject to all the definitions, terms and conditions of the
     Plan, a copy of which is enclosed. To the extent any provision of this
     Award conflicts with applicable law, the Committee shall have the
     discretion to modify or amend this Award, or adopt additional terms and or
     conditions, as may be deemed necessary or advisable in order to comply with
     the local, state, federal or foreign laws and regulations of any
     jurisdiction. In the event of any discrepancy between the provisions of the
     Plan and this or any other communication regarding the Plan, the provisions
     of the Plan control. This Award shall be binding upon and inure to the
     benefit of the Company and its successors and assigns, on the one hand, and
     you and your permitted transferees, on the other hand.

                                                    TENNECO INC.:
                                                    By:
                                                       -------------------------
                                                    Name:
                                                         -----------------------
                                                    Title:
                                                          ----------------------

EMPLOYEE:
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Signature
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Type or Print Legal name
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Social Security Number of Natural ID
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Address
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City/State/Zip/Country

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                                    EXHIBIT A

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