Document:

EX-10.2

 Exhibit 10.2 
 FLOTEK INDUSTRIES, INC. 
 2010 LONG-TERM INCENTIVE PLAN 

RESTRICTED STOCK AGREEMENT 
 1. Grant of Restricted Stock. Subject to the conditions described in this agreement (the “Award Agreement”) and in the Flotek Industries, Inc 2010 Long-Term Incentive Plan, as
amended from time to time (the “Plan”), Flotek Industries, Inc., a Delaware corporation (the “Company”), hereby agrees to grant to H. Richard Walton (“Participant”) shares of “Restricted Stock” of the Company.

 2. Number of Shares of Restricted Stock Granted. 50,000 shares of Restricted Stock (common stock of the Company,
$0.0001 par value per share). 
 3. Grant Date. March 13, 2013. 

4. Vesting. 
 (a) Vesting Schedule. Subject to the satisfaction of the terms and conditions set forth in the Plan and this Award Agreement, including Participant’s continued employment/service with the
Company through the applicable vesting date set forth below, Participant shall vest in his/her rights under the Restricted Stock and the Company’s right to return and reacquisition of such shares shall lapse with respect to the Restricted Stock
according to the following schedule and conditions: 
 (i) 25,000 shares of the Restricted Stock shall vest on
March 13, 2014; and 
 (ii) 25,000 shares of the Restricted Stock shall vest on March 13, 2015.

 (b) Forfeited Restricted Stock. For the sake of clarity, references to Restricted Stock does not
include any previously forfeited Restricted Stock. 
 5. Issuance and Transferability. 

(a) Registration and Restricting Legend. Upon grant, the Restricted Stock granted hereunder shall be registered in
the name of Participant and, unless and until such Restricted Stock vests, shall be left on deposit with the Company, or in trust or escrow pursuant to an agreement satisfactory to the Company, until such time as the restrictions on transfer have
lapsed. If the shares of Restricted Stock are represented by certificates, such certificates shall be marked with the following legend: 
 “The shares represented by this certificate have been issued pursuant to the terms of the Flotek Industries, Inc. 2010 Long-Term Incentive Plan and may not be sold, pledged, transferred, assigned or
otherwise encumbered in any manner except as is set forth in the terms of the Restricted Stock Agreement dated March 13, 2013.” 

 (b) Book Entry Form. If the shares are held in book entry form, then
such entry will reflect, in a manner sufficient to effect in a legally enforceable form, that such shares of Restricted Stock are subject to the restrictions of this Award Agreement and the Plan. 

(c) Stock Power. Participant will deliver to the Company a stock power, in substantially the form as Exhibit A
attached hereto or such form as required by the Company, endorsed in blank, with respect to each Award of Restricted Stock. 
 (d) Release of Restrictions. Upon vesting of any portion of the shares of Restricted Stock and satisfaction of any other conditions required by the Plan or pursuant to this Award Agreement, the
Company shall promptly either issue a stock certificate, without such restricted legend, for any shares of the Restricted Stock that have vested, or, if the shares are held in book entry form, the Company shall remove the notations on the book entry
registrations for any shares of the Restricted Stock that have vested. 
 (e) Prohibition on Transfer.
Until restrictions lapse, the Restricted Stock shall not be transferable. No right or benefit hereunder shall in any manner be liable for or subject to any debts, contracts, liabilities, or torts of Participant. Any purported assignment, alienation,
pledge, attachment, sale, transfer or other encumbrance of the Restricted Stock, regardless of by whom initiated or attempted, prior to the lapse of restrictions shall be void and unenforceable against the Company. If, notwithstanding the foregoing,
an assignment, alienation, pledge, attachment, sale, transfer or other encumbrance of the Restricted Stock is effected by operation of law, court order or otherwise, the affected Restricted Stock shall remain subject to the risk of forfeiture,
vesting requirement and all other terms and conditions of this Award Agreement. In the case of Participant’s death or Disability, Participant’s vested rights under this Award Agreement (if any) may be exercised and enforced by
Participant’s guardian or legal representative. 
 6. Forfeiture. 

(a) In the event of Participant’s Termination for a reason other than a reason that causes Vesting pursuant to
Section 6(b) of this Agreement, the unvested portion of the Restricted Stock held by Participant at that time shall immediately be forfeited and the Company shall repurchase such forfeited shares from the Participant for the lesser of
(i) the amount paid by the Participant to the Company for such shares, if any, or (ii) the Fair Market Value of an equivalent number of shares of Common Stock determined on the date the Restricted Stock is forfeited. 

(b) If not already forfeited pursuant to Section 6(a), the occurrence of any of the following events shall cause the
portion of the Restricted Stock which is not yet Vested to be considered immediately Vested: (i) a Change of Control, (ii) the death of Participant, (iii) a Termination by the Company which is not for Cause, (iv) a

  
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Termination by the Participant which is for Good Reason (as hereinafter defined), (v) a Termination which is because of the Disability of Participant. For purposes hereof, “Good
Reason” shall exist upon the occurrence of one of the following Company actions (unless the Participant consents in writing to such action(s)): (i) a material reduction of the compensation and benefits to which the Participant was
entitled immediately prior to such reduction, (ii) a material reduction in the duties, authority or responsibilities relative to the duties, authority or responsibilities of the Participant as in effect immediately prior to such reduction, or
(iii) the relocation of Participant to a facility or a location more than fifty (50) miles from Participant’s then present location; provided, however, that (A) Participant must provide the Company with written notice of the
occurrence of such action(s) within 60 days of the initial occurrence of such action(s) and of Participant’s intent to terminate the term of this Agreement based on such action(s) and (B) the Company will have 30 days from the date that
such written notice is provided by the Participant to cure such action(s). 
 7. Ownership Rights. Subject to any
reservations, conditions or restrictions set forth in this Award Agreement and/or the Plan, upon grant to Participant of the Restricted Stock, Participant shall be entitled to all voting rights applicable to the Restricted Stock during the
Restricted Period. In the event of forfeiture of shares of Restricted Stock, the Participant shall have no further rights with respect to such Restricted Stock. 
 8. Reorganization of the Company. The existence of this Award Agreement shall not affect in any way the right or power of the Company or its stockholders to make or authorize any or all
adjustments, recapitalizations, reorganizations or other changes in the Company’s capital structure or its business; any merger or consolidation of the Company; any issue of bonds, debentures, preferred or prior preference stock ahead of or
affecting the Restricted Stock or the rights thereof; the dissolution or liquidation of the Company, or any sale or transfer of all or any part of its assets or business, or any other corporate act or proceeding, whether of a similar character or
otherwise. 
 9. Certain Restrictions. By executing this Award Agreement, Participant acknowledges that he will enter
into such written representations, warranties and agreements and execute such documents as the Company may reasonably request in order to comply with the securities law or any other applicable laws, rules or regulations, or with this Award Agreement
or the terms of the Plan. 
 10. Amendment and Termination. This Award Agreement or the Plan may be amended or terminated
in accordance with the terms of the Plan and with the express written consent of Participant. 

  
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 11. Taxes and Withholdings. 

(a) Tax Consequences. The granting, vesting and/or sale of all or any portion of the Restricted Stock may trigger
tax liability. Participant agrees that he/she shall be solely responsible for any such tax liability. Participant is encouraged to contact his tax advisor to discuss any tax implications which may arise in connection with the Restricted Stock.

 (b) Withholding. Participant acknowledges that the vesting of Restricted Stock granted pursuant to this
Award Agreement, the making of an election under Section 83(b) of the Code and the vesting and payment of any accrued dividends may result in federal, state or local tax withholding obligations. Participant understands and acknowledges that the
Company will not deliver shares of Common Stock or make any payment of accrued dividends until it is satisfied that appropriate arrangements have been made to satisfy any tax obligation under this Award Agreement or the Plan and agrees to make
appropriate arrangements suitable to the Company for satisfaction of all tax withholding obligations. Further, Participant hereby agrees and grants to the Company the right to withhold from any payments or amounts of compensation, payable in cash or
otherwise, in order to meet any tax withholding obligations under this Award Agreement or the Plan. As such, if the Company requests that Participant take any action required to effect any action described in this Section and to satisfy the
tax withholding obligation pursuant to this Award Agreement and the Plan, Participant hereby agrees to promptly take any such action. 
 (c) Section 83(b). Participant understands that any election under Section 83(b) of the Code with regard to the Restricted Stock must be made within thirty (30) days of the Grant
Date and that, in the event of such election, Participant will so notify the Company in writing on or before such date. 

12. No Guarantee of Tax Consequences. The Company, Board and Committee make no commitment or guarantee to Participant that any
federal, state or local tax treatment will apply or be available to any person eligible for benefits under this Award Agreement and assumes no liability whatsoever for the tax consequences to Participant. 

13. Severability. In the event that any provision of this Award Agreement is, becomes or is deemed to be illegal, invalid,
or unenforceable for any reason, or would disqualify the Plan or this Award Agreement under any law deemed applicable by the Board or the Committee, such provision shall be construed or deemed amended as necessary to conform to the applicable laws,
or if it cannot be construed or deemed amended without, in the determination of the Board or the Committee, materially altering the intent of the Plan or this Award Agreement, such provision shall be stricken as to such jurisdiction, the Participant
or this Award Agreement, and the remainder of this Award Agreement shall remain in full force and effect. 
 14. Terms of the
Plan Control. This Award Agreement and the underlying Award are made pursuant to the Plan. Notwithstanding anything in this Award Agreement to the contrary, the terms of the Plan, as amended from time to time and interpreted and applied by the
Committee, shall govern and take precedence. All capitalized terms not otherwise defined herein shall have the meanings set forth in the Plan, the terms of which are incorporated herein by reference. 

  
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 15. Governing Law. This Award Agreement shall be construed in accordance with
(excluding any conflict or choice of law provisions of) the laws of the State of Delaware to the extent federal law does not supersede and preempt Delaware law. 
 16. Consent to Electronic Delivery; Electronic Signature. Except as otherwise prohibited by law, in lieu of receiving documents in paper format, Participant agrees, to the fullest extent permitted
by law, to accept electronic delivery of any documents that the Company may be required to deliver (including, but not limited to, prospectuses, prospectuses supplements, grant or award notifications and agreements, account statements, annual and
quarterly reports, and all other forms of communications) in connection with this and any other Award made or offered by the Company. Electronic delivery may be via a Company electronic mail system or by reference to a location on a Company intranet
to which Participant has access. Participant hereby consents to any and all procedures the Company has established or may establish for an electronic signature system for delivery and acceptance of any such documents that the Company may be required
to deliver, and agrees that his electronic signature is the same as, and shall have the same force and effect as, his manual signature. 
 [SIGNATURE PAGE FOLLOWS] 

  
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	COMPANY:
	
	Flotek Industries, Inc.
		
	By:	 	/s/ John W. Chisholm
	Name	 	Printed: John W. Chisholm
	Title:	 	CEO, President & Chairman of the Board
	Date: 3/13/13
	
	PARTICIPANT:
	
	/s/ H. Richard Walton
	H. Richard Walton
	
	Address:
	
	[Redacted]
	
	 
	
	 
	Date: 3/13/13

  
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 EXHIBIT A 

Assignment Separate from Certificate 
 FOR VALUE RECEIVED,
                                hereby sells, assigns and transfers unto Flotek
Industries, Inc., a Delaware corporation (the “Company”),
                    (            ) shares of common stock of the Company represented by
Certificate No.                     and does hereby irrevocably constitute and appoint
                                         
   , or his designee or successor, as attorney to transfer the said stock on the books of the Company with full power of substitution in the premises. 
 Dated:             , 20    . 

 

	
	 
	Print Name
	
	 
	Signature

 INSTRUCTIONS: PLEASE DO NOT FILL IN ANY BLANKS OTHER THAN THE SIGNATURE LINE. THE PURPOSE OF THIS ASSIGNMENT
IS TO ENABLE THE COMPANY TO EXERCISE ITS “REPURCHASE OPTION” SET FORTH IN THE AWARD AGREEMENT WITHOUT REQUIRING ADDITIONAL SIGNATURES ON THE PART OF THE PURCHASER. 

  
 7EX-10.22

 Exhibit 10.22 
 EAST BOSTON SAVINGS BANK – MERIDIAN INTERSTATE BANCORP, INC. 

Incentive Compensation Plan 
 Revised January 24, 2008 
 Purpose of the Plan 

The purpose of the Plan is to encourage greater initiative, resourcefulness, cooperation and effectiveness on the part of all officers and staff members
of the Bank by providing a means whereby such participants may be rewarded for their efforts as determined by individual performance review and evaluation. The Plan is based on key variables in accordance with the Bank’s overall goals. As the
Bank meets or exceeds its objectives, the Plan provides for a payment of a bonus to recognize and reward the contributions of the participants. 
  

	1.	The EBSB Board of Directors has established an incentive compensation plan for the Bank in order to: 

 

	 	•	 	 Provide total annual compensation (i.e., salary plus incentive) that is competitive with other financial institutions in the employment markets in
which the Bank competes. 

  

	 	•	 	 Promote the Bank’s achievement of profit and business goals established through the annual business planning process; and

  

	 	•	 	 Facilitate the retention and commitment of key personnel. 

 

	2.	The pool from which the bonus will be distributed shall be equal to ten (10) percent of the net operating income at fiscal year end. If the amount of the proposed
total bonus distribution exceeds the available bonus pool, no bonus will be distributed under the provisions of the Plan. In this event, the Compensation Committee may authorize an alternative form of bonus payment. 

 

	3.	All bonus payments will be made at the discretion of the Compensation Committee, and no officer or employee shall have any right to receive a bonus under the Plan until
the Compensation Committee has specifically voted such bonus. Authorized payments will be made following the close of the fiscal year at a time to be designated by the Committee. 

 

	4.	A reduction will be made for Personal Leave Days in excess of five (5) taken during the fiscal year. An amount equal to ten percent (10%) of the
individual’s gross bonus will be deducted from the total for each day in excess of five (5). A reduction will also be made for unpaid absences over and above Personal Leave Day allotment and for unpaid absences that occur prior to eligibility
for Personal Leave Days. An amount equal to ten percent (10%) will be deducted for each such day and may result in a total loss of bonus. Days spent in jury duty, military service or military reserve obligations, or bereavement leave as
described and restricted by the Employee Handbook, will not be counted against an individual’s bonus payment. 

A reduction of four tenths of one percent (0.4%) will be made for each Accumulated Leave Day, Personal Leave Day or unpaid day of absence,
in excess of five for the year, which is part of an approved statutory leave of absence. Extended or repeated absences due to serious medical causes documented by a physician’s certificate may be treated the same way in calculating a bonus
payment. This is in lieu of the 10% reductions described in the previous paragraph. 
  

	5.	A reduction will also be made for an employee who is not on an approved leave of absence for a portion of the year. The same is true for an employee who is on a
development plan during the Plan year. 

  
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 Definitions 
 The following terms shall have these meanings: 
  

			
	 Term
	  	 Shall Mean

		
	Bank	  	East Boston Savings Bank
		
	Bank Plan	  	Bank’s Incentive Compensation Plan
		
	Base Salary	  	Full-Time Employees
		  	  
 Annualized weekly base salary excluding sales
incentives, overtime, Saturday pay, prior year bonus payment and other pay

		
		  	Part-Time Employees
		  	  
 Regular earnings excluding sales incentives,
prior year bonus payment and other pay

		
		  	Commissioned Employees
		  	  
 If eligible, annualized weekly base salary plus
commissions excluding Saturday pay, prior year bonus payment and other pay.

		
	Board	  	EBSB Board of Directors.
		
	Bonus Pool	  	An amount equal to ten (10) percent of the net operating income at the end of the Plan year.
		
	Committee	  	Compensation Committee of the Board of Directors of the Bank
		
	Participant	  	Eligible officers and employees of East Boston Savings Bank.
		
	Plan Year	  	Any fiscal year
		
	The Plan	  	The Incentive Compensation Plan as herein described.

 Participation 

Officers and employees will normally participate in the distribution of the bonus in accordance with their levels of responsibility and degrees of
decision making authority impacting overall Bank success and their own operating unit. Grade and base salary at the close of the fiscal year will be used to determine the percentage of the distribution and the dollar value of each individual bonus
distribution. 

  
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 Eligibility 
 All actively employed officers and employees who receive a satisfactory overall performance rating and who have been actively employed for a minimum of six months of the Plan year are eligible. To qualify
for payment the officers and employees must be actively employed at the time the bonus distribution is made. Otherwise, eligible officers and employees employed for less than twelve (12) months of the Plan year will receive a pro-rated bonus
according to the length of service. 
 Rights of Plan Participants 
 Plan Participants who terminate employment with the Bank by reason of death, disability or retirement prior to the conclusion of the Plan Year will receive a pro-rata payment of any incentive award
earned, based on the months of completed service as a Plan Participant during the year. Beneficiaries of such payments will be the same as identified in the Bank’s group insurance plan. Any Plan Participant who terminates employment before
awards are paid forfeits any earned award. Any Plan Participant whose service with the Bank is terminated for cause will receive no payment. At the discretion of the Compensation Committee, in consultation with the Bank’s President, if any Plan
Participant has had poor performance during any Plan year, any potential payment may be subject to reduction or elimination. NOTE: Temporary employees are not eligible. 
 Award Limitations 
 Notwithstanding other provisions in the Plan, the Compensation Committee may
review the amount available for bonus payments in all categories and adjust such amounts to reflect its evaluation of the Bank’s achievements in the Plan year. Such evaluations may be based on comparisons to other banks or any other appropriate
criteria. 
 The Compensation Committee reserves the right to amend or modify the Plan at any time. The Board of Directors may elect to
terminate the Plan at any time. 
 Individual Bonus Award Distribution 
 If earnings achievement for the Plan year meets the pre-established criteria, bonus payment will be distributed in accordance with the separately published Award Distribution table. 

Withholding Taxes 
 The Bank may make such
provisions as it deems appropriate for withholding payroll taxes in connection with payment of Incentive Compensation awards. 
 Amendment or
Termination 
 The Committee reserves the right at any time to amend, suspend or terminate the Plan in whole or in part for any reason and
without the consent of any Eligible Employee, provided that no such amendment shall adversely affect the rights of the Plan Participants with respect to amounts earned prior to such amendments. 

  
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 EAST BOSTON SAVINGS BANK - MERIDIAN INTERSTATE BANCORP, INC. 

 
 INCENTIVE COMPENSATION PLAN - Plan Year 2012
for 2013 Payout 
 Individual Bonus Award Distribution 

If earnings achievement for the Plan year meets the pre-established criteria, 

bonus payment will be distributed in accordance with the following Bank performance 

and individual participant’s performance evaluation formula: 
 Plan does not include accrued bonus expense and monies held 
 by Prospect Inc. for
Federal and State Income Taxes 
  

																											
	 Group
	  	A	 	 	B	 	 	C	 	 	D	 	 	E	 	 	F	 
	 Performance Scale*
	  	 Review Rating
	  	E12	 	 	E 11	 	 	E 9 & 10	 	 	E 7 & 8	 	 	E 3 - 6	 	 	E 1 & 2,
N 1-8	 
	 20
	  		  	 	10	% 	 	 	8	% 	 	 	6	% 	 	 	4	% 	 	 	3	% 	 	 	2	% 
								
	 40
	  	Satisfactory	  	 	14	  	 	 	10	  	 	 	8	  	 	 	5	  	 	 	3	  	 	 	3	  
		  	Above Satisfactory	  	 	16	  	 	 	12	  	 	 	10	  	 	 	8	  	 	 	5	  	 	 	4	  
		  	Exceptional	  	 	18	  	 	 	14	  	 	 	12	  	 	 	10	  	 	 	7	  	 	 	6	  
								
	 60
	  	Satisfactory	  	 	17	  	 	 	13	  	 	 	11	  	 	 	9	  	 	 	6	  	 	 	5	  
		  	Above Satisfactory	  	 	21	  	 	 	15	  	 	 	13	  	 	 	12	  	 	 	8	  	 	 	7	  
		  	Exceptional	  	 	25	  	 	 	18	  	 	 	15	  	 	 	14	  	 	 	11	  	 	 	9	  
								
	 80
	  	Satisfactory	  	 	25	  	 	 	17	  	 	 	14	  	 	 	13	  	 	 	10	  	 	 	8	  
		  	Above Satisfactory	  	 	30	  	 	 	21	  	 	 	17	  	 	 	16	  	 	 	12	  	 	 	10	  
		  	Exceptional	  	 	35	  	 	 	25	  	 	 	20	  	 	 	19	  	 	 	15	  	 	 	13	  
								
	 100
	  	Satisfactory	  	 	35	  	 	 	25	  	 	 	20	  	 	 	19	  	 	 	15	  	 	 	13	  
		  	Above Satisfactory	  	 	42	  	 	 	30	  	 	 	23	  	 	 	21	  	 	 	18	  	 	 	16	  
		  	Exceptional	  	 	50	  	 	 	35	  	 	 	27	  	 	 	24	  	 	 	21	  	 	 	19	  

  

	*	Performance Scale level is calculated by adding the numerical scores achieved for each of the established Incentive Target Goals (see separate table) and dividing that
total by the maximum possible score of 20. 

  
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 EAST BOSTON SAVINGS BANK - MERIDIAN INTERSTATE BANCORP, INC. 

2012 INCENTIVE COMPENSATION (BONUS) PLAN FOR 2013 PAYOUT 
 (Dollars in Thousands) 
  

																					
	 COMPONENT
	  	WEIGHT (%)	 	 	2012
BUDGET	 	 	1	 	2	 	3	 	4	 	5	 
								
	 Net Loan Growth (as a %) ( A )
	  	 	25.0	% 	 	 	19.47	% 	 	10.46%-11.96%	 	11.97%-17.96%	 	17.97%-20.97%	 	20.98%-26.97%	 	 	> 26.97	% 
								
	 Deposit Growth (as a %) ( B )
	  	 	12.5	% 	 	 	9.48	% 	 	4.95%-5.96%	 	5.97%-8.47%	 	8.48%-10.48%	 	10.49%-13.00%	 	 	> 13.00	% 
								
	 Cost of Funds (as a %) ( C )
	  	 	12.5	% 	 	 	0.97	% 	 	1.17%-1.11%	 	1.10%-1.04%	 	1.03%-0.91%	 	0.90%-0.84%	 	 	< 0.84	% 
								
	 Net Operating Income ( D )
	  	 	25.0	% 	 	$	17,427	  	 	$12,677-$14,576	 	$14,577-16,476	 	$16,477-$18,377	 	$18,378-$20,277	 	> $	20,277	  
								
	 Efficiency Ratio (as a %) ( E )
	  	 	25.0	% 	 	 	78.23	% 	 	<= 83.50%	 	83.49%-79.99%	 	79.98%-76.48%	 	76.47%-72.97%	 	 	< 72.97	% 
		  	  
	  
	 	 				 		 		 		 		 			
		  	 	100.0	% 	 				 		 		 		 		 			
		  	  
	  
	 	 				 		 		 		 		 			

 Footnote: 

	( A )	Includes loans held for sale but does not include loans serviced for others. 

	( B )	Does not included Fed Funds Purchased from other institutions. 

	( C )	Includes non-interest bearing deposits. 

	( D )	Represents net income before taxes, with ICP assumed at the budgeted amount. 

	( E )	Represents non-interest expense divided by the sum of net interest income and non-interest income excluding gains or losses on securities and bank gain on sale of
investment in affiliate. Also see inclusions and adjustment outlined in ( D ). 

  
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