This excerpt taken from the DRQ 8-K filed Mar 15, 2006.
Item 1.01 Entry into a Material Definitive Agreement.
On March 9, 2006, the Nominating, Governance and Compensation Committee of the Board of Directors of Dril-Quip, Inc. (the Company) approved the payment of a cash bonus in the amount of $588,000 to each of Messrs. Larry E. Reimert, Gary D. Smith and J. Mike Walker, the Companys three Co-Chief Executive Officers (the Co-CEOs), for the 2005 bonus period. In addition, the Nominating, Governance and Compensation Committee approved a cash bonus of $70,000 to Jerry M. Brooks, the Companys Chief Financial Officer, for the 2005 bonus period.
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: March 15, 2006