TETRA Technologies amends bromine supply agreement with LANXESS, settles arbitration

TETRA TECHNOLOGIES INC

Amendment effective April 1, 2023, resolves pending arbitration with LANXESS over bromine supply.
Revised annual minimum and maximum purchase volumes for bromine (terms redacted).
Contract term extended with automatic renewal option; termination without cause available after a certain date.
Pricing adjusted quarterly based on revised formula; hardship clause eliminated.
Buyer must provide binding monthly forecasts (first 3 months binding) with incremental pricing above annual minimum.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

TETRA TECHNOLOGIES INC amended Third Amendment to Bromine Requirements Sales Agreement with LANXESS Corporation (effective 2023-04-01).

Action: amendment
Agreement: supply
Counterparty: LANXESS Corporation
Effective: 2023-04-01

Exact text from the filing

On May 25, 2023, TETRA Technologies, Inc., a Delaware corporation (the “Company”), entered into the Third Amendment to Bromine Requirements Sales Agreement (the “Amendment”) with LANXESS Corporation (formerly known as Chemtura Corporation, “LANXESS”). The Amendment has an effective date of April 1, 2023 and was entered into in connection with the entry into a settlement agreement in the Company’s arbitration with LANXESS.

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Source: SEC EDGAR

accession 0000950170-23-025345

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