CSI Compressco LP (NASDAQ:CCLP) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On January 19, 2018, the Board of Directors of CSI Compressco GP, Inc. (“General Partner”), the general partner of CSI Compressco LP (the “Partnership”), elected Michael E. Moscoso as Vice President – Finance of the General Partner, in which role he will assume responsibilities from Elijio V. Serrano as the principal accounting officer.Mr. Serrano will continue to serve as the Chief Financial Officer and remains the principal financial officer of the General Partner.

Mr. Moscoso, 52, has served as the Director of Internal Audit of TETRA Technologies, Inc. since July 2014.From July 2005 until April 2014, Mr. Moscoso served in various internal audit roles with increasing responsibility, most recently as the senior director – internal audit, at AEI Services, LLC, a private company which owned and operated interests in multiple power generation assets, as well as natural gas transportation and distribution businesses in Central and South America, the Caribbean, and other international locations. From April 2014 until July 2014, Mr. Moscoso was self-employed.Mr. Moscoso’s prior experience includes serving as the director of settlements and, prior to that, as manager of risk reporting and controls of Enron Corporation, the assistant treasurer of Zilkha Energy Company, and as controller – Latin America division of Weatherford International.Mr. Moscoso began his career in 1989 with KPMG, where his responsibilities primarily included managing and executing audits of exploration and production companies and pipeline companies. Mr. Moscoso received his B.B.A. degree in accounting from the University of Houston, is a certified public accountant in the State of Texas, and a certified internal auditor.

In connection with Mr. Moscoso’s appointment as Vice President – Finance, the Partnership approved an annual base salary of $195,500 and a target annual cash incentive bonus opportunity equal to 30% of his base salary. Mr. Moscoso will also be eligible to participate in annual grants of long-term incentives similar to the General Partner’s other executives. The General Partner has entered into the Partnership’s general form of employment agreement, which evidences the at-will nature of Mr. Moscoso’s employment and does not set forth or guarantee the term of employment, salary, or other incentives, all of which are entirely at the discretion of the Board of Directors.

There are no arrangements or understandings between Mr. Moscoso and any other person to which he was appointed as an officer of the General Partner. Neither the General Partner nor the Board of Directors is aware of any transaction in which Mr. Moscoso has an interest that requires disclosure under Item 404(a) of Regulation S-K. For relationships among the Partnership, the General Partner, and TETRA and its affiliates (Mr. Moscoso’s prior employer), please read Item 13 “Certain Relationships and Related Transactions, and Director Independence,” which is incorporated herein by reference to the Partnership’s Annual Report on Form 10-K for the year ended December 31, 2016, filed with the Securities and Exchange Commission on February 28, 2017.

Mr. Moscoso may be indemnified by the General Partner to the Certificate of Incorporation and Bylaws of the General Partner and by the Partnership to the Second Amended and Restated Agreement of Limited Partnership of the Partnership, as amended, for actions associated with being an officer. The Partnership has entered into an Indemnification Agreement with Mr. Moscoso in the same form the Partnership offers to its directors and executive officers. A copy of the form of the Indemnification Agreement is filed as Exhibit 10.5 to the Partnership’s Registration Statement on Form S-1/A (Registration No. 333-155260) filed on May 27, 2011 and incorporated in this Item 5.02 by reference.

About CSI Compressco LP (NASDAQ:CCLP)

CSI Compressco LP, formerly Compressco Partners, L.P., is a provider of compression services and equipment for natural gas and oil production, gathering, transportation, processing and storage. The Company sells custom-designed compressor packages and oilfield fluid pump systems, and provides aftermarket services and compressor package parts and components manufactured by third-party suppliers. It provides these compression services and equipment to a base of natural gas and oil exploration and production, midstream and transmission companies operating throughout many of the onshore producing regions of the United States, as well as in a number of foreign countries, including Mexico, Canada and Argentina. It is a service provider of natural gas compression services in the United States, utilizing its fleet of compressor packages that employs a spectrum of low-, medium- and high-horsepower engines.