On January 1, 2016, Flotek Industries Inc. and H. Richard Walton entered into an Employment Agreement (the Walton Employment Agreement), effective as of January 1, 2016, pursuant to which Mr. Walton will serve as Chief Financial Officer Emeritus of the Company. The Walton Employment Agreement (i) provides for a term of employment until the earlier of (1) December 31, 2016, (2) Mr. Walton's resignation with or without Good Reason (as defined in the Walton Employment Agreement) or Mr. Walton's death or disability, or (3) termination by the Company with or without Cause. Also on January 1, 2016, the Company and Joshua A. Snively, Sr. entered into an Employment Agreement (the Snively Employment Agreement), pursuant to which Mr. Snively will serve as Executive Vice President, Research and Development, of the Company, and President of Florida Chemical Company Inc., a Delaware corporation which is a subsidiary of the Company.

The Snively Employment Agreement is effective as of January 1, 2016. The Snively Employment Agreement (i) provides for a term of employment until the earlier of (1) December 31, 2018, (2) Mr. Snively's resignation with or without Good Reason (as defined in the Snively Employment Agreement) or Mr. Snively's death or disability, or (3) termination by the Company with or without Cause.