SCHEDULE 14A INFORMATION
Proxy Statement Pursuant to Section 14(a) of
the Securities Exchange Act of 1934 (Amendment No. )
Filed by the Registrant /X/
Filed by a Party other than the Registrant / /
Check the appropriate box:
/ / Preliminary Proxy Statement
/ / Confidential, for Use of the Commission Only (as permitted by Rule
14a-6(e)(2))
/X/ Definitive Proxy Statement
/ / Definitive Additional Materials
/ / Soliciting Material Pursuant to Section 240.14a-11(c) or Section
240.14a-12
TETRA TECH, INC.
- --------------------------------------------------------------------------------
(Name of Registrant as Specified In Its Charter)
- --------------------------------------------------------------------------------
(Name of Person(s) Filing Proxy Statement, if other than the Registrant)
Payment of Filing Fee (Check the appropriate box):
/X/ No fee required.
/ / Fee computed on table below per Exchange Act Rules 14a-6(i)(1)
and 0-11.
(1) Title of each class of securities to which transaction applies:
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(2) Aggregate number of securities to which transaction applies:
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(3) Per unit price or other underlying value of transaction computed
pursuant to Exchange Act Rule 0-11 (set forth the amount on which the
filing fee is calculated and state how it was determined):
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(4) Proposed maximum aggregate value of transaction:
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(5) Total fee paid:
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/ / Fee paid previously with preliminary materials.
/ / Check box if any part of the fee is offset as provided by Exchange Act Rule
0-11(a)(2) and identify the filing for which the offsetting fee was paid
previously. Identify the previous filing by registration statement number,
or the Form or Schedule and the date of its filing.
(1) Amount Previously Paid:
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(2) Form, Schedule or Registration Statement No.:
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(3) Filing Party:
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(4) Date Filed:
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NOTICE OF ANNUAL MEETING OF STOCKHOLDERS
TO BE HELD FEBRUARY 10, 1999
------------------------
To the Stockholders of
TETRA TECH, INC.:
The Annual Meeting of the Stockholders (the "Meeting") of Tetra Tech, Inc.,
a Delaware corporation (the "Company"), will be held on Wednesday, February 17,
1999 at 10:00 a.m., Pacific Standard Time, at The Doubletree Hotel located at
199 N. Los Robles Avenue, Pasadena, California 91101, for the following purposes
as described in the accompanying Proxy Statement:
1. To elect five directors to the Board of Directors of the Company to
serve for a term of one year and until their successors are duly elected
and qualified.
2. To transact such other business as may properly come before the Meeting
or any adjournment thereof.
The Board of Directors has fixed the close of business on December 9, 1998
as the record date for the determination of stockholders entitled to vote at the
Meeting or any adjournment or adjournments thereof, and only record holders of
the Company's common stock at the close of business on that day will be entitled
to vote. A copy of the Company's 1998 Annual Report is enclosed with this Notice
but is not to be considered part of the proxy soliciting material.
Each stockholder is cordially invited to be present and to vote in person at
the Meeting. TO ASSURE REPRESENTATION AT THE MEETING, HOWEVER, STOCKHOLDERS ARE
URGED TO SIGN AND RETURN THE ENCLOSED PROXY CARD AS PROMPTLY AS POSSIBLE IN THE
POSTAGE PREPAID ENVELOPE ENCLOSED FOR THAT PURPOSE. Any stockholder attending
the Meeting may vote in person even if he or she previously returned a proxy.
By Order of the Board of Directors
/s/ Richard A. Lemmon
Richard A. Lemmon
VICE PRESIDENT AND SECRETARY
Pasadena, California
January 11, 1999
[LOGO]
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670 NORTH ROSEMEAD BOULEVARD
PASADENA, CALIFORNIA 91107
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PROXY STATEMENT
------------------
GENERAL INFORMATION
This Proxy Statement is being sent on or about January 11, 1999 in
connection with the solicitation of proxies by the Board of Directors of Tetra
Tech, Inc., a Delaware corporation (the "Company"). The proxies are for use at
the 1999 Annual Meeting of Stockholders of the Company (the "Meeting"), which
will be held at 10:00 a.m., Pacific Standard Time, on Wednesday, February 17,
1999, at The Doubletree Hotel located at 199 N. Los Robles Avenue, Pasadena,
California 91101, and at any meetings held upon adjournment thereof. The record
date for the Meeting is the close of business on December 9, 1998 (the "Record
Date"), and all holders of record of the Company's common stock, $.01 par value
per share (the "Common Stock"), on the Record Date are entitled to notice of the
Meeting and to vote at the Meeting and any meetings held upon adjournment
thereof.
A proxy form is enclosed. Whether or not you plan to attend the Meeting in
person, please date, sign and return the enclosed proxy as promptly as possible,
in the postage prepaid envelope provided, to insure that your shares will be
voted at the Meeting. Any stockholder who returns a proxy in such form has the
power to revoke it at any time prior to its effective use by filing an
instrument revoking it or a duly executed proxy bearing a later date with the
Secretary of the Company or by attending the Meeting and voting in person.
Unless contrary instructions are given, any such proxy, if not revoked, will be
voted at the Meeting: (a) for the Board of Directors' slate of nominees; and (b)
as recommended by the Board of Directors with regard to all other matters, in
its discretion.
The voting securities of the Company are the outstanding shares of Common
Stock. At the Record Date, the Company had 28,664,432 shares of Common Stock
outstanding. For each share of Common Stock held on the Record Date, a
stockholder is entitled to one vote on all matters to be considered at the
Meeting. The Company's Certificate of Incorporation, as amended, does not
provide for cumulative voting. In the election of directors, the five candidates
who receive the highest number of affirmative votes will be elected. Votes
against a candidate and votes withheld have no legal effect. In matters other
than the election of directors, abstentions are counted as votes against in
tabulations of the votes cast on proposals presented to stockholders, whereas
broker non-votes are not counted for purposes of determining whether a proposal
has been approved.
The cost of preparing, assembling, printing and mailing this Proxy Statement
and the accompanying form of proxy, and the cost of soliciting proxies relating
to the Meeting, will be borne by the Company. The Company may request banks and
brokers to solicit their customers who beneficially own Common Stock listed of
record in names of nominees, and will reimburse such banks and brokers for their
reasonable out-of-pocket expenses of such solicitations. The original
solicitation of proxies by mail may be supplemented by telephone, telegram and
personal solicitation by officers, directors and regular employees of the
Company, but no additional compensation will be paid to such individuals.
1
PROPOSAL NO. 1
ELECTION OF DIRECTORS
The Company presently has five directors, all of whom are elected annually.
At the Meeting, the term of office of all directors currently holding office
will expire and five directors will be elected to serve for a term of office
consisting of the ensuing year and until their respective successors are elected
and qualified. Accordingly, the Board of Directors intends to nominate the five
incumbent directors named below for election as directors. Each nominee has
consented to being named in this Proxy Statement as a nominee for election as
director and has agreed to serve as a director if elected.
The persons named as proxies in the accompanying form of proxy have advised
the Company that they intend at the Meeting to vote the shares covered by the
proxies for the election of the nominees named below. If any one or more of such
nominees are unable to serve or for good cause will not serve, the persons named
as proxies in the accompanying form of proxy may vote for the election of such
substitute nominees as the Board of Directors may propose. The accompanying form
of proxy contains a discretionary grant of authority with respect to this
matter. The persons named as proxies in the accompanying form of proxy may not
vote for a greater number of persons than the number of nominees named herein.
No arrangement or understanding exists between any nominee and any other
person or persons pursuant to which any nominee was or is to be selected as a
director or nominee. None of the nominees have any family relationship among
themselves or with any executive officer of the Company.
NOMINEES
The nominees of the Board of Directors are listed below, together with their
ages, certain biographical information and all positions and offices with the
Company held by them.
NAME AGE POSITION
- ------------------------------------------ --- ---------------------------------------------------------------
Li-San Hwang.............................. 63 Chairman of the Board of Directors, President and Chief
Executive Officer
Daniel A. Whalen.......................... 51 Director, Executive Vice President
J. Christopher Lewis...................... 42 Director
Patrick C. Haden.......................... 45 Director
James J. Shelton.......................... 82 Director
Dr. Hwang joined the Company's predecessor in 1967 and has held his present
positions since the acquisition by the Company of the Water Management Group of
Tetra Tech, Inc., a subsidiary of Honeywell, Inc., in March 1988 (the
"Acquisition"). Dr. Hwang was named Director of Engineering at the Company in
1972 and a Vice President in 1974. Prior to the Acquisition, Dr. Hwang was
Senior Vice President of Operations. He has served as an advisor to numerous
government and professional society committees and has published extensively in
the field of hydrodynamics. Dr. Hwang is a graduate of the National Taiwan
University, Michigan State University and the California Institute of
Technology, holding B.S., M.S. and Ph.D. degrees, respectively, in Civil
Engineering, specializing in water resources.
Mr. Whalen, currently on a leave of absence from his position as Executive
Vice President of Telecommunications Services of the Company and President of
Whalen & Company, Inc. (WAC), joined the Company and the Board upon the merger
of the Company and WAC in June 1997. Prior to founding WAC in 1987, Mr. Whalen
co-founded and served as an executive officer of First Cellular Group, Inc., The
Microwave Group, Inc., Network Building & Consulting, Inc., and Cellular
Development Company. Earlier he was Vice President-Operations of American
TeleServices, Inc. and Director of Operations of NYNEX Mobile Services. Mr.
Whalen earned a B.S. degree from St. John's University and M.A. and M.B.A.
degrees from Stanford University.
2
Mr. Lewis has been a member of the Board of Directors of the Company since
February 1988. Since 1982, Mr. Lewis has been a general partner of Riordan,
Lewis & Haden, a Los Angeles-based partnership which invests equity in
high-growth middle market companies. Mr. Lewis also serves as a director of Data
Processing Resources Corporation, a provider of specialty information technology
staffing services, SM&A Corporation, a provider of proposal management, systems
engineering and information technology services, California Beach Restaurants,
Inc., an owner and operator of restaurants, PIA Merchandising Services, Inc., a
supplier of in-store merchandising and sales services, and several
privately-held companies.
Mr. Haden has been a member of the Board of Directors of the Company since
December 1, 1992. Mr. Haden is a general partner of Riordan, Lewis & Haden,
which he joined in 1987. Mr. Haden also serves as a director of PIA
Merchandising Services, Inc., Data Processing Resources Corporation, and several
privately-held companies.
Mr. Shelton has been a member of the Board of Directors of the Company since
March 1995. Mr. Shelton is a self-employed investor and venture capitalist. He
is the former (retired) President of the Baker Drilling Equipment Co., and
formerly served as the Director of Corporate Relations and a director of Baker
Hughes Incorporated (formerly Baker International Corp.).
INFORMATION REGARDING THE BOARD OF DIRECTORS AND ITS COMMITTEES
The Company's Board of Directors met four times during the fiscal year ended
October 4, 1998. Each of the Company's directors attended 75% or more of the
total number of meetings of the Board of Directors and meetings of the
committees of the Board of Directors on which he served (during the period
within which he was a director or member of such committee) during the fiscal
year ended October 4, 1998.
The Company has an Audit Committee which, during the fiscal year ended
October 4, 1998, was comprised of Messrs. Lewis and Haden. The function of the
Audit Committee is to consult and meet with the Company's auditors and its Chief
Financial Officer and other finance and accounting personnel, review potential
conflict of interest situations, where appropriate, and report and make
recommendations to the full Board of Directors regarding such matters. The Audit
Committee met twice during the fiscal year ended October 4, 1998.
The Company has a Compensation Committee which, during the fiscal year ended
October 4, 1998, consisted of Messrs. Lewis and Haden. The Compensation
Committee reviews the compensation of the Company's Chief Executive Officer and
reviews the recommendations of the Chief Executive Officer relating to
compensation of certain of the Company's other senior executive officers. The
Compensation Committee also establishes policies relating to the compensation of
Company executive officers and other key employees and administers the Company's
stock option plans. The Compensation Committee held one meeting during fiscal
year 1998. Neither Mr. Haden nor Mr. Lewis was at any time during the fiscal
year ended October 4, 1998 or at any other time an officer or employee of the
Company.
The Company does not have a standing nominating committee or any committee
performing the functions thereof.
No executive officer of the Company serves as a member of the Board of
Directors or Compensation Committee of any other entity which has one or more
executive officers serving as a member of the Company's Board of Directors or
Compensation Committee.
DIRECTOR COMPENSATION
No nonemployee director of the Company received any cash compensation for
service on the Board of Directors or any committee thereof during the fiscal
year ended October 4, 1998.
3
Under the Company's 1992 Stock Option Plan for Nonemployee Directors (the
"Nonemployee Directors Plan"), an option to purchase 3,814 shares of Common
Stock is granted to each nonemployee director of the Company automatically each
year, immediately following the annual meeting of stockholders of the Company.
Such option vests and becomes exercisable in full on the first anniversary of
its grant date, provided that the optionee is reelected as a director of the
Company. The exercise price of stock options granted under the Nonemployee
Directors Plan is equal to the fair market value of the Common Stock on the date
of grant. During the fiscal year ended October 4, 1998, each director elected at
the 1998 Annual Meeting of Stockholders received an option to purchase 3,814
shares of Common Stock at an exercise price of $18.00 per share.
COMPENSATION COMMITTEE INTERLOCKS AND INSIDER PARTICIPATION
No interlocking relationship exists between the Company's Board of Directors
and the compensation committee of any other company.
LIMITATION OF LIABILITY AND INDEMNIFICATION MATTERS
The Company's Certificate of Incorporation limits the liability of directors
to the maximum extent permitted by Delaware law. Delaware law provides that
directors of a company will not be personally liable for monetary damages for
breach of their fiduciary duties as directors, except for liability (i) for any
breach of their duty of loyalty to the company or its stockholders, (ii) for
acts or omissions not in good faith or which involve intentional misconduct or a
knowing violation of law, (iii) for unlawful payments of dividends or unlawful
stock repurchases or redemptions as provided in Section 174 of the Delaware
General Corporation Law, or (iv) for any transaction from which the director
derived an improper personal benefit.
The Company's Bylaws provide that the Company shall indemnify its officers
and directors and may indemnify its employees and other agents to the fullest
extent permitted by law. The Company's Bylaws also permit it to secure insurance
on behalf of any officer, director, employee or other agent for any liability
arising out of his or her actions in such capacity, regardless of whether Bylaws
would permit indemnification.
The Company maintains director and officer liability insurance.
At present, there is no pending litigation or proceeding involving any
director, officer, employee or agent of the Company, where indemnification will
be required or permitted. The Company is not aware of any threatened litigation
or proceeding which may result in a claim for such indemnification.
4
SECURITY OWNERSHIP OF PRINCIPAL STOCKHOLDERS,
DIRECTORS AND EXECUTIVE OFFICERS
The following table sets forth information regarding the ownership of the
Company's Common Stock as of December 18, 1998 (as adjusted to reflect the
Company's 5-for-4 stock split, effected in the form of a 25% stock dividend, in
September 1998) by (i) all those persons known by the Company to own
beneficially more than 5% of the Company's Common Stock, (ii) each director,
nominee for director and certain executive officers of the Company and (iii) all
officers and directors as a group. Except as otherwise noted, the Company knows
of no agreements among its stockholders which relate to voting or investment
power over its Common Stock.
NUMBER OF PERCENTAGE OF
SHARES SHARES
BENEFICIALLY BENEFICIALLY
NAME OF BENEFICIAL OWNER(1) OWNED OWNED(1)
- ----------------------------------------------------------------- --------------- ---------------
Li-San Hwang(2).................................................. 1,629,961 5.7%
Tetra Tech, Inc.
670 N. Rosemead Blvd.
Pasadena, California 91107
Daniel A. Whalen(3).............................................. 3,713,649 13.0
Whalen & Company, Inc.
3675 Mt. Diablo Blvd.
Suite 360
Lafayette, California 94549
Pilgrim Baxter & Associates, Ltd.(4)............................. 2,873,206 10.0
Harold J. Baxter
Gary I. Pilgrim
1255 Drummers Lane
Wayne, Pennsylvania 19087
J. Christopher Lewis(5).......................................... 76,472 *
Patrick C. Haden(6).............................................. 28,145 *
James J. Shelton(7).............................................. 20,869 *
Thomas D. Brisbin(8)............................................. 47,603 *
Charles R. Faust(9).............................................. 48,998 *
James M. Jaska(10)............................................... 58,209 *
Total beneficial shares of all directors and executive officers 6,019,234 21.0%
as a group(11).................................................
- ------------------------
* Amount represents less than 1% of the Company's Common Stock.
(1) Unless otherwise indicated, the persons named in the table have sole voting
and sole investment power with respect to all shares of Common Stock shown
as beneficially owned by them, subject to community property rules where
applicable and the information contained in this table and these notes.
(2) Includes 26,238 shares issuable with respect to stock options exercisable
within 60 days after December 18, 1998.
(3) Includes 3,906 shares issuable with respect to stock options exercisable
within 60 days after December 18, 1998. Includes (a) 2,890,821 shares of
Common Stock held by Daniel A. Whalen and Katharine C. Whalen as Trustees
for the Whalen Family Trust U/A/D 4/30/92, (b) 31,000 shares of Common
Stock held by Brown Investment Advisory & Trust Company, as Trustee for the
Whalen 1997 Charitable Remainder Unitrust, (c) 488,295 shares of Common
Stock held by DKW/CRT
5
Investments ("DKW/CRT"), and (d) 299,627 shares of Common Stock held by
D-K-W Ventures LP ("D-K-W"). Of shares being offered hereby, 1,178,700 will
be sold by the Family Trust, 199,100 will be sold by DKW/CRT and 122,200
will be sold by D-K-W.
(4) All information regarding share ownership is taken from and furnished in
reliance upon the Schedule 13G (Amendment No. 6), dated as of April 9,
1998, jointly filed by Pilgrim Baxter & Associates, Ltd., Harold J. Baxter
and Gary I. Pilgrim.
(5) Includes 19,070 shares issuable with respect to stock options exercisable
within 60 days after December 18, 1998.
(6) Excludes an aggregate of 2,683 shares of Common Stock owned by Mr. Haden's
wife as to which Mr. Haden disclaims beneficial ownership. Includes 19,070
shares issuable with respect to stock options exercisable within 60 days
after December 18, 1998.
(7) Includes 5,613 shares held by James J. Shelton, Sarah Belle Shelton and
James J. Shelton, Jr., Trustees of the James J. Shelton and Sarah Belle
Shelton Family Trust dated August 19, 1987, and 15,256 shares issuable with
respect to stock options exercisable within 60 days after December 18,
1998.
(8) Includes 46,835 shares issuable with respect to stock options exercisable
within 60 days after December 18, 1998.
(9) Includes 21,230 shares issuable with respect to stock options exercisable
within 60 days after December 18, 1998. Additionally, Dr. Faust's minor
children own an aggregate of 2,198 shares of Common Stock as to which Dr.
Faust disclaims beneficial ownership.
(10) Includes 57,558 shares issuable with respect to stock options exercisable
within 60 days after December 18, 1998.
(11) Includes 292,722 shares issuable with respect to stock options exercisable
within 60 days after December 18, 1998.
6
EXECUTIVE OFFICERS' COMPENSATION
AND OTHER INFORMATION
EXECUTIVE OFFICERS
The following table sets forth certain information concerning each person
who is an executive officer of the Company:
NAME AGE POSITION
- ------------------------------ --- -------------------------------------------------
Li-San Hwang.................. 63 Chairman of the Board of Directors, President and
Chief Executive Officer
Thomas D. Brisbin............. 46 Executive Vice President, Chief Operating Officer
James M. Jaska................ 47 Vice President, Chief Financial Officer and
Treasurer
Daniel A. Whalen.............. 51 Director, Executive Vice President
William R. Brownlie........... 45 Senior Vice President
Steven A. Gherini............. 53 Vice President
Arkan Say..................... 63 Vice President
Charles R. Faust.............. 53 Vice President
Richard A. Lemmon............. 39 Vice President and Secretary
Executive officers of the Company are elected by and serve at the discretion
of the Board of Directors. Set forth below is a brief description of the
business experience of all executive officers other than Li-San Hwang and Daniel
A. Whalen. For information concerning the business experience of Dr. Hwang and
Mr. Whalen, who are also directors of the Company, see "Proposal No. 1--Election
of Directors-- Nominees."
Dr. Brisbin was named Executive Vice President and Chief Operating Officer
of the Company in 1996 after the Company acquired Tetra Tech EM Inc. (formerly
known as PRC Environmental Management, Inc.). Dr. Brisbin joined Planning
Research Corporation (PRC), a wholly-owned subsidiary of The Black & Decker
Corporation, in 1978 and was co-founder and President of PRC Environmental
Management, Inc. (PRC EMI). During his 17 year tenure at PRC, he was involved in
all aspects of marketing, operations and finance. Before joining PRC, he was a
research associate at Argonne National Laboratory and an adjunct professor at
the Illinois Institute of Technology. Dr. Brisbin holds a B.S. degree from
Northern Illinois University and a Ph.D. in Environmental Engineering from
Illinois Institute of Technology. He also completed Harvard Business School's
Advanced Management Program in 1988.
Mr. Jaska joined the Company in 1994 as Vice President, Chief Financial
Officer and Treasurer. From 1991 to 1994, Mr. Jaska held several operations and
management positions at Alliant Techsystems, Inc., in addition to leading the
environmental business venture and having operational responsibility for large
government defense plants. From 1988 to 1990, he served as the Director of
Finance and Business Management at Honeywell Inc.'s Precision Weapons
Operations. From 1981 to 1987, he was responsible for environmental affairs at
Honeywell Inc. From 1977 to 1981, he managed regulatory affairs dealing with the
production of specialty chemicals at Ecolab, Inc. Mr. Jaska also served as an
advisor to numerous governmental and professional committees. Mr. Jaska holds
B.S. and M.S. degrees from Western Illinois University and completed an
executive management program through Harvard University.
Dr. Brownlie joined the Company in 1981, has been a Vice President since
1988 and was named a Senior Vice President in December 1993. He has managed
several large government environmental support programs and serves as head of
one of the Company's largest operating units. Dr. Brownlie has managed several
large government environmental support programs and serves as one of our
Division
7
Managers. Dr, Brownlie is a registered Civil Engineer with a technical
background in hydrology, hydraulics, water quality analysis and numerical
modeling. Dr. Brownlie holds B.S. and M.S. degrees in Civil Engineering at the
State University of New York at Buffalo, and earned a Ph.D. in Civil Engineering
from the California Institute of Technology.
Mr. Gherini joined the Company in 1976. Mr. Gherini has served as Program
Manager on a variety of contracts involving chemistry, water quality control and
water quality modeling, and served as Division Vice President prior to being
named to his present position in 1988. He is the author of numerous technical
publications and is the developer of several models for pollutant fate and
transport. He has served on two National Academy of Science panels. Mr. Gherini
is a registered engineer with B.S. and M.S. degrees in Civil Engineering from
Stanford University, and a M.S. degree in Aquatic Chemistry from Harvard
University.
Mr. Say joined Edward H. Richardson & Associates (a firm that was acquired
by the Company's predecessor in 1981 and became a division of the Company in
1991) in 1958 and was named to his present position in 1988. He has authored
several publications on site development, engineering and storm drainage. Mr.
Say holds a B.S. in Civil Engineering from Robert College in Istanbul, Turkey
and a M.S. in Civil Engineering from the University of Delaware.
Dr. Faust, Vice President of the Company since 1988 and President of HSI
GeoTrans, Inc. ("HSG"), a subsidiary of the Company, co-founded GeoTrans, Inc.,
a predessesor of HSG, in 1979. In addition to his management responsibilities,
he is engaged in the quantitative assessment and investigation of highly
technical groundwater problems. He has published 23 articles and has co-authored
a book on groundwater modeling. Dr. Faust holds B.S. and Ph.D. degrees in
Geology from Pennsylvania State University.
Mr. Lemmon, Vice President and Secretary, joined the Company in 1981. Until
1985, he served in several technical capacities. He transferred to Corporate
Human Resources, and was promoted to Corporate Manager of Human Resources in
1987. Following the Company's divestiture from Honeywell, Inc., Mr. Lemmon
structured and managed the Company's Risk Management, Human Resource and Office
Leasing programs. In 1990, he was promoted to Director of Administration and in
1994 assumed responsibility for contracts administration and was elected as the
Company's Secretary. In November 1995, Mr. Lemmon was elected a Vice President.
Mr. Lemmon holds a B.A. degree in Business Administration.
8
EXECUTIVE COMPENSATION
The following table sets forth the cash compensation paid or accrued by the
Company to the Chief Executive Officer and to each of the four additional most
highly compensated executive officers for each of the fiscal years in the
three-year period ended October 4, 1998:
SUMMARY COMPENSATION TABLE
LONG-TERM COMPENSATION
-----------------------------------
AWARDS
ANNUAL COMPENSATION ------------------------ PAYOUTS
---------------------------------------- RESTRICTED SECURITIES --------
OTHER ANNUAL STOCK UNDERLYING LTIP ALL OTHER
SALARY BONUS COMPENSATION AWARD(S) OPTIONS/ PAYOUTS COMPENSATION
NAME AND PRINCIPAL POSITION YEAR ($) ($) ($) (1) ($) SARS ($) ($) ($)
- ---------------------------------- ---- ------- ------ --------------- ----------- ---------- -------- ------------
Li-San Hwang ..................... 1998 185,000 85,000 601(2) 0 12,500 0 10,266(3)
Chairman, Chief Executive 1997 185,000 80,000 1,087 0 7,813 0 10,317
Officer and President 1996 185,000 80,000 1,975 0 9,766 0 10,746
Thomas D. Brisbin ................ 1998 150,000 95,000(4) 3,600(5) 0 3,750 0 9,079(6)
Executive Vice President, 1997 150,000 50,000 0 0 0 0 34,058
Chief Operating Officer 1996 150,000 0 0 0 83,985 0 9,337
James M. Jaska ................... 1998 120,000 60,000 4,950(7) 0 2,500 0 7,060(8)
Vice President, 1997 110,000 50,000 5,400 0 18,750 0 5,826
Chief Financial Officer 1996 110,000 27,000 5,400 0 3,906 0 6,378
and Treasurer
William R. Brownlie .............. 1998 117,000 35,000 5,400(9) 0 3,125 0 6,890(10)
Senior Vice President 1997 115,000 30,000 5,400 0 3,125 0 6,043
1996 114,000 25,000 5,400 0 4,883 0 6,668
Charles R. Faust ................. 1998 120,000 25,000 5,400(11) 0 5,000 0 9,405(12)
Vice President 1997 120,000 0 5,400 0 5,469 0 8,637
1996 115,000 15,000 5,400 0 2,930 0 8,758
- ------------------------------
(1) No named executive officer received other annual compensation in excess of
the lesser of $50,000 or 10% of such officer's compensation in fiscal 1998.
(2) Comprised of $601 in automobile allowances.
(3) Comprised of $7,850 of Company contributions to its Retirement Plan and
$2,416 benefits and premiums paid by the Company to Dr. Hwang pursuant to
the Executive Medical Reimbursement Plan.
(4) Includes $50,000 of bonus paid in fiscal 1998 relating to bonus earned in
fiscal 1996.
(5) Comprised of $3,600 in automobile allowances.
(6) Comprised of $9,079 of Company contributions to its Retirement Plan.
(7) Comprised of $4,950 in automobile allowances.
(8) Comprised of $7,060 of Company contributions to its Retirement Plan.
(9) Comprised of $5,400 in automobile allowances.
(10) Comprised of $6,890 of Company contributions to its Retirement Plan.
(11) Comprised of $5,400 automobile allowances.
(12) Comprised of $7,155 of HSI GeoTrans' contributions to HSI GeoTrans'
Retirement Plan and $2,250 in life insurance premiums paid on behalf of
Dr. Faust.
9
The following table sets forth information concerning options granted to
each of the named executive officers during fiscal 1998:
OPTION/SAR GRANTS IN LAST FISCAL YEAR
POTENTIAL REALIZABLE
VALUE AT ASSUMED
INDIVIDUAL GRANTS ANNUAL RATES OF
-------------------------------------------------------- STOCK PRICE
NUMBER OF % OF TOTAL APPRECIATION FOR
SECURITIES OPTIONS/SARS OPTION TERM
UNDERLYING GRANTED TO EXERCISE OR --------------------
OPTIONS/SARS EMPLOYEES IN BASE PRICE EXPIRATION 10%
NAME GRANTED(#)(1) FISCAL YEAR ($/SH) DATE 5% ($)(2) ($)(2)
- --------------------------------------- ------------- --------------- ----------- ----------- --------- ---------
Li-San Hwang........................... 12,500 2.19 16.00 12/18/07 125,779 318,748
Thomas D. Brisbin...................... 3,750 0.66 16.00 12/18/07 37,734 95,625
James M. Jaska......................... 2,500 0.44 16.00 12/18/07 25,156 63,750
William R. Brownlie.................... 3,125 0.55 16.00 12/18/07 31,445 79,687
Charles R. Faust....................... 5,000 0.88 16.00 12/18/07 50,312 127,499
- ------------------------
(1) All options are incentive stock options and were granted under the Company's
1992 Incentive Stock Plan. Such options vest over four year periods at an
annual rate of 25% beginning on the first anniversary of the date of grant.
(2) Potential realizable value is determined by multiplying the exercise or base
price per share by the stated annual appreciation rate compounded annually
for the term of the option (10 years), subtracting the exercise or base
price per share from the product, and multiplying the remainder by the
number of options granted. Actual gains, if any, on stock option exercises
and Common Stock holdings are dependent on the future performance of the
Common Stock and overall stock market conditions. There can be no assurance
that the amounts reflected in this table will be achieved.
10
The following table sets forth information concerning the aggregate number
of options exercised during fiscal 1998 by each of the named executive officers:
OPTION/SAR EXERCISES IN LAST FISCAL YEAR AND
FISCAL YEAR END OPTION/SAR VALUES
VALUE OF
NUMBER OF UNEXERCISED
UNEXERCISED IN-THE-MONEY
OPTIONS/SARS OPTIONS/SARS
AT FY-END AT FY-END
SHARES ---------------- -------------------
ACQUIRED ON VALUE EXERCISABLE/ EXERCISABLE/
NAME EXERCISE(#) REALIZED($) UNEXERCISABLE(#) UNEXERCISABLE($)(1)
- ------------------------------------------------- ----------- ----------- ---------------- -------------------
Li-San Hwang..................................... 0 0 15,991/26,296 144,642/237,853
Thomas D. Brisbin................................ 0 0 55,175/18,517 662,216/222,243
James M. Jaska................................... 12,500 147,095 45,898/41,837 430,229/392,163
William R. Brownlie.............................. 0 0 35,649/10,963 473,362/145,571
Charles R. Faust................................. 0 0 16,048/12,400 202,993/359,842
- ------------------------
(1) Value is determined by subtracting the exercise price from the fair market
value of $20.84 per share (the closing price for the Company's Common Stock
as reported by the Nasdaq Stock Market as of October 2, 1998) and
multiplying the remainder by the number of underlying shares of Common
Stock.
BONUS PROGRAMS
The Board of Directors awards, at its discretion, annual bonuses to its
executive officers based upon recommendations made by the Compensation Committee
(as to Dr. Hwang) and Dr. Hwang (as to the other executive officers) concerning
individual performance and the Company's achievement of certain operating
results. The Company maintains a separate bonus program for other key employees.
Under that program, the Company is divided into 18 operating units. If the
operating profit for any operating unit determined on an annual basis following
the conclusion of the fiscal year exceeds the targeted percentage for that year,
then a bonus equal to 25% of the amount in excess of the target is allocated to
that profit center and the group manager divides it among group members in his
or her discretion based upon individual performance.
1992 INCENTIVE STOCK PLAN
The Company's 1992 Incentive Stock Plan (the "Plan") was adopted by the
Company's Board of Directors on December 1, 1992 and was subsequently approved
by the Company's stockholders. The Plan provides for the granting of incentive
stock options, nonqualified stock options and rights to purchase restricted
stock to key employees and officers of the Company or any of its subsidiaries,
including directors who are also key employees or officers of the Company and
its subsidiaries. The maximum number of shares of Common Stock authorized for
issuance under the Plan is 4,609,375.
EMPLOYEE STOCK PURCHASE PLAN
The Company's Employee Stock Purchase Plan (the "Purchase Plan") was adopted
by the Company's Board of Directors on November 15, 1995 and was subsequently
approved by the Company's stockholders. The Purchase Plan provides for the
granting of Purchase Rights to purchase Common Stock to regular full-time and
regular part-time employees and officers of the Company or any of its
subsidiaries, including directors who are also employees or officers of the
Company or any of its subsidiaries. Under the Purchase Plan, 878,906 shares may
be issued upon the exercise of Purchase Rights.
11
Each Purchase Right lasts for a period of 52 weeks (a "Purchase Right
Period"). Prior to the beginning of each Purchase Right Period, employees may
elect to contribute fixed amounts to the Purchase Plan during that Purchase
Right Period to purchase Common Stock. The maximum amount that an employee can
contribute during a Purchase Right period is $4,000, and the minimum
contribution per payroll period is $25.
Under the Purchase Plan, the exercise price of a Purchase Right will be the
lesser of 100% of the fair market value of such shares (based upon its closing
price on the Nasdaq Stock Market) on the first day of the Purchase Right Period
or 85% of the fair market value on the last day of such Period. Employees'
contributions to the Purchase Plan are automatically used to purchase Common
Stock on the last day of the Purchase Right Period unless an employee elects to
withdraw from the Purchase Plan or is terminated prior to that date. If the
Company is sold, all Purchase Rights will become exercisable immediately
preceding the sale. Employees who elect to suspend their contributions can elect
either to withdraw their contributions or leave those amounts in the Purchase
Plan to be used to purchase Common Stock at the end of the Purchase Right
Period.
RETIREMENT PLANS
THE COMPANY RETIREMENT PLAN. The Company maintains a combined discretionary
profit-sharing contribution and 401(k) retirement plan (the "Retirement Plan")
covering all employees of the Company and its subsidiaries and related
participating employers. The Retirement Plan is qualified under Section 401(a)
of the Internal Revenue Code of 1986, as amended (the "Code"), and the 401(k)
portion of the Retirement Plan is intended to qualify under Section 401(k) of
the Code.
Under the terms of the Retirement Plan, each eligible employee may elect to
defer up to 15% of base compensation or the maximum 401(k) contribution allowed
under Federal law and to have such deferred amount contributed to the Retirement
Plan on his or her behalf. The Company makes a matching contribution to each
employee who elects to participate in the 401(k) portion of the Retirement Plan.
In addition, the Board of Directors may elect to have the Company make a profit
sharing contribution that will be allocated among the eligible participants in
the ratio that each participant's gross base compensation bears to the total
gross base compensation of all eligible employees. Company matching and profit
sharing contributions fully vest upon the earlier of the employee's retirement,
death, disability, or fifth year of service. Benefits under the Retirement Plan
are generally distributed in the form of a lump sum following a participant's
retirement, death, disability or termination of employment. Benefits may be
distributed prior to termination of employment under certain circumstances
including hardship. The Company pays all costs associated with the
administration of the Retirement Plan.
SCM Consultants, Inc., CommSite Development Corporation, McNamee, Porter &
Seeley, Inc., Whalen/Sentrex LLC and the Sentrex Group of Companies participate
in separate retirement plans covering their respective employees.
EXECUTIVE MEDICAL REIMBURSEMENT PLAN
The Executive Medical Reimbursement Plan (the "Medical Plan"), which was
established by the Company's predecessor in 1975 for the benefit of the
Company's executive officers, reimburses participants, their spouses and covered
children for medical expenses not covered by the Company's regular group medical
plan. In effect, this Medical Plan provides participants with 100% medical
coverage for all allowable medical expenses. During the fiscal year ending
October 4, 1998, premiums totaling $420 were paid by the Company in connection
with the Medical Plan. At the present time, Messrs. Hwang and Gherini are the
only executive officers covered by the Medical Plan and the Company does not
intend to offer the Medical Plan to any additional executive officers in the
future.
12
CERTAIN TRANSACTIONS
On January 29, 1998, the Company loaned $352,000 to Thomas D. Brisbin,
Executive Vice President and Chief Operating Officer of the Company, in
connection with the purchase of his residence. The loan was unsecured and bore
interest at an annual rate of 6.5%. On March 27, 1998, Mr. Brisbin repaid the
loan in full.
During fiscal 1998, Daniel A. Whalen, a director and Executive Vice
President of the Company, engaged in certain transactions with the Company
relating to the Company's acquisition of Whalen & Company, Inc. (WAC) in June
1997. Mr. Whalen agreed that he would be responsible for the payment of a
$92,000 deferred bonus due an employee of WAC. The Company agreed that it would
reimburse Mr. Whalen for this payment. Further, Mr. Whalen agreed to compensate
the Company in the amount of $193,000 for services rendered to him following the
acquisition of WAC. These services included the administration of accounts
receivable assigned to Mr. Whalen as part of the acquisition (the "Assigned
Receivables") and other administrative accounting services. In addition, the
Company paid $79,000 in interest to Mr. Whalen in connection with the Assigned
Receivables.
Patrick C. Haden, a director and stockholder of the Company, is of counsel
to the law firm of Riordan & McKinzie, Los Angeles, California. Riordan &
McKinzie acts as general counsel to the Company. Certain principals and
employees of Riordan & McKinzie beneficially own shares of the Company's Common
Stock.
REPORT OF THE COMPENSATION COMMITTEE OF THE BOARD OF DIRECTORS
The Compensation Committee (the "Committee") of the Board of Directors
oversees the general compensation policies of the Company, oversees the
compensation plans, establishes the specific compensation of Dr. Hwang, the
Company's Chief Executive Officer, reviews the Chief Executive Officer's
recommendations as to the specific compensation levels for the other executive
officers and oversees the Company's stock incentive plans. The Compensation
Committee is composed of two independent non-employee directors who have no
interlocking relationships as defined by the Securities and Exchange Commission.
COMPENSATION POLICY AND PROGRAMS. The Committee's responsibility is to
provide a strong and direct link among stockholder values, Company performance
and executive compensation through its oversight of the design and
implementation of a sound compensation program that will attract and retain
highly qualified personnel. Compensation programs are intended to complement the
Company's short-and long-term business objectives and to focus executive efforts
on the fulfillment of these objectives.
Each year the Committee has conducted a full review of the Company's
executive compensation program. It has been the Committee's practice to
establish target levels of compensation for senior officers consistent with that
of companies comparable in size and complexity to the Company, as well as
companies which are direct business competitors of the Company. After review of
data relating to all aspects of compensation paid by such groups of companies,
actual compensation of the Company's executive officers is subject to increase
or decrease by the Committee from targeted levels according to the Company's
overall performance and the individual's efforts and contributions. A
significant portion of executive compensation is directly related to the
Company's financial performance and is therefore at risk. Total compensation for
the Company's senior management is composed of base salary, near-term incentive
compensation in the form of bonuses and long-term incentive compensation in the
form of stock options. The Committee retains the discretion to adjust the
formula for certain items of compensation so long as total compensation reflects
overall corporate performance and individual achievement.
BASE SALARY. In establishing base salary levels for senior officer
positions, the Committee and Dr. Hwang consider levels of compensation at
similarly situated companies and at direct competitors, levels of responsibility
and internal issues of consistency and fairness. In determining the base salary
of a
13
particular executive, the Committee and Dr. Hwang consider individual
performance, including the accomplishment of short- and long-term objectives,
and various subjective criteria including initiative, contribution to overall
corporate performance and leadership ability.
In fiscal 1998, the annual base salary of Dr. Hwang was determined by the
Committee based on comparable chief executive salaries of a peer group of
companies and of direct competitors referred to above, the Company's overall
performance and profitability in fiscal 1998, Dr. Hwang's efforts and
contributions to the Company and Dr. Hwang's ownership interest in the Company.
BONUSES. The Company's executive officers are eligible for annual bonuses
based upon recommendations made by Dr. Hwang (as to the other executive
officers) and the Compensation Committee (as to Dr. Hwang) based upon their
individual performance and the Company's achievement of certain operating
results.
Amounts of individual awards are based principally upon the results of the
Company's financial performance during the prior fiscal year. The amount of
awards for senior officers are within guidelines established by the Committee
and Dr. Hwang as a result of their review of total compensation for senior
management of peer companies and competitors. The actual amount awarded, within
these guidelines, will be determined principally by the Committee's and Dr.
Hwang's assessment of the individual's contribution to the Company's overall
financial performance. Consideration is also given to factors such as the
individual's successful completion of a special project, any significant
increase or decrease in the level of the participant's executive responsibility
and the Committee's and Dr. Hwang's evaluation of the individual's overall
efforts and ability to discharge the responsibilities of his or her position. In
fiscal 1998, bonuses related to performance in fiscal 1998 to be paid to the
five named executive officers range from $25,000 to $85,000, and range from 21%
to 55% of such officers' base salaries.
Dr. Hwang's bonus with respect to the 1998 fiscal year was $85,000. In
determining the amount of the 1998 award, the Committee gave particular
consideration to (1) the positive earnings growth of the Company during the
fiscal year; and (2) the efforts and significant contributions made by Dr. Hwang
in discharging his responsibilities as Chief Executive Officer.
STOCK OPTIONS. In fiscal 1992, the Committee adopted the Company's 1992
Incentive Stock Plan (the "1992 Plan"). The purpose of the 1992 Plan is to
provide incentives and reward the contributions of key employees and officers
for the achievement of long-term Company performance, as measured by earnings
per share and the market value of the Common Stock. The Committee and Dr. Hwang
set guidelines for the number and terms of stock option or restricted stock
awards based on factors similar to those considered with respect to the other
components of the Company's compensation program, including comparison with the
practices of peer group companies and direct competitors. In the event of
unsatisfactory corporate performance, the Committee may decide not to award
stock options or restricted stock in any given fiscal year although exceptions
to this policy may be made for individuals who have assumed substantially
greater responsibilities and other similar factors. The awards under the 1992
Plan are designed to align the interests of executives with those of the
stockholders. Generally, stock options become exercisable in cumulative
installments over a period of four years, but the individual forfeits any
installment which has not vested during the period of his or her employment.
Under the 1992 Plan, the Compensation Committee awarded stock options in
fiscal 1998 to all named executive officers.
INTERNAL REVENUE CODE SECTION 162(m). Under Section 162 of the Internal
Revenue Code of 1986, as amended, the amount of compensation paid to certain
executives that is deductible with respect to the Company's corporate taxes is
limited to $1,000,000 annually. It is the current policy of the Compensation
Committee to maximize, to the extent reasonably possible, the Company's ability
to obtain a corporate tax deduction for compensation paid to executive officers
of the Company to the extent consistent with the best interests of the Company
and its stockholders.
14
COMPENSATION COMMITTEE
J. Christopher Lewis
Patrick C. Haden
15
COMPANY PERFORMANCE
The following graph shows a comparison of cumulative total returns for the
Company, the Nasdaq Stock Market (U.S. Companies) Index and a
Company-constructed Peer Group Index (as defined below). The graph assumes that
the value of an investment in Common Stock and in each such index was $100 on
October 3, 1993, and that all dividends have been reinvested. The
Company-constructed Peer Group Index includes the following companies: Dames &
Moore Group, E A Engineering Science & Technology, Inc., EMCON, Ecology &
Environment, Inc., Harding Lawson Associates, Inc., ICF Kaiser International,
Inc., IT Group Inc., TRC Companies, Inc., URS Greiner Corporation and Roy F.
Weston, Inc. The Company believes that the companies included in the Peer Group
Index are among the primary competitors of the Company.
The comparison in the graph below is based on historical data and is not
intended to forecast the possible future performance of the Company's Common
Stock.
COMPARISON OF CUMULATIVE TOTAL RETURN AMONG
TETRA TECH, NASDAQ STOCK MARKET (U.S. COMPANIES),
AND TETRA TECH'S SELF-CONSTRUCTED PEER GROUP
EDGAR REPRESENTATION OF DATA POINTS USED IN PRINTED GRAPHIC
TETRA TECH NASDAQ STOCK MARKET PEER INDEX
10/1/93 100.000 100.000 100.000
12/31/93 127.451 102.006 99.745
3/31/94 117.647 97.719 94.831
6/30/94 120.915 93.150 81.494
9/30/94 156.250 100.865 82.592
12/30/94 145.016 99.713 76.484
3/31/95 159.314 108.717 70.684
6/30/95 181.270 124.357 74.461
9/29/95 237.439 139.336 84.477
12/29/95 232.333 141.030 71.267
3/29/96 227.226 147.602 64.391
6/28/96 255.310 159.648 68.439
9/27/96 303.181 165.800 65.574
12/31/96 252.119 173.426 67.388
3/31/97 186.696 164.019 62.534
6/30/97 307.968 194.083 67.704
9/26/97 315.947 226.436 78.121
12/31/97 319.138 212.771 75.747
3/31/98 386.955 248.893 81.029
6/30/98 386.955 256.083 78.350
10/2/98 415.753 220.994 63.859
October 1, 1993 September 30, 1994 September 29, 1995 September 27, 1996 September 26, 1997 October 2, 1998
100.0 156.3 237.4 303.2 315.9 415.8
100.0 100.9 139.3 165.8 226.4 221.0
100.0 82.6 84.5 65.6 78.1 63.9
16
COMPLIANCE WITH SECTION 16(A) OF THE
SECURITIES EXCHANGE ACT OF 1934
Section 16(a) of the Securities Exchange Act of 1934 ("Section 16") requires
the Company's executive officers, directors and beneficial owners of more than
10% of the Company's Common Stock (collectively, "Insiders") to file reports of
ownership and changes in ownership of Common Stock of the Company with the
Securities and Exchange Commission and the Nasdaq Stock Market, and to furnish
the Company with copies of all Section 16(a) forms they file.
During fiscal 1998, six of the Company's executive officers, Messrs.
Brisbin, Brownlie, Faust, Gherini, Jaska and Lemmon filed late Form 4s in
connection with their purchases of shares in May 1998 under the Company's
Employee Stock Purchase Plan. In addition, Mr. Lemmon filed a late Form 4 in
connection with his sales of shares in January 1998.
INDEPENDENT PUBLIC ACCOUNTANTS
Deloitte & Touche LLP, certified public accountants, acted as Company's
independent auditors and audited the consolidated financial statements of the
Company for the fiscal year ended October 4, 1998. The Company has been advised
that Deloitte & Touche LLP is independent with respect to the Company within the
meaning of the Securities Act of 1993, as amended, and the applicable published
rules and regulations thereunder. A representative of that firm is expected to
be present at the Meeting and the representative is expected to be available to
respond to appropriate questions. The Board of Directors has recommended that
Deloitte & Touche LLP be appointed as the Company's auditors for fiscal 1999.
STOCKHOLDER PROPOSALS FOR 1999 ANNUAL MEETING
Any stockholder who wishes to present a proposal for action at the 2000
Annual Meeting of Stockholders and who wishes to have it set forth in the
corresponding proxy statement and identified in the corresponding form of proxy
prepared by management must notify the Company no later than September 1, 1999
in such form as required under the rules and regulations promulgated by the
Securities and Exchange Commission.
OTHER MATTERS
The Board of Directors does not know of any other matters to be presented at
the Meeting, but, if other matters do properly come before the Meeting, it is
intended that the persons named as proxies in the proxy will vote on them in
accordance with their best judgment.
A copy of the Company's 1998 Annual Report for the fiscal year ended October
4, 1998 is being mailed to each stockholder of record together with this Proxy
Statement.
The Company has filed with the Securities and Exchange Commission its Annual
Report on Form 10-K for the fiscal year ended October 4, 1998. This Report
contains detailed information concerning the Company and its operations,
supplementary financial information and certain schedules which are not included
in the 1998 Annual Report. A COPY OF THIS REPORT WILL BE FURNISHED TO
STOCKHOLDERS WITHOUT CHARGE UPON REQUEST IN WRITING TO: Richard A. Lemmon,
Secretary, Tetra Tech, Inc., 670 North Rosemead Boulevard, Pasadena, California
91107; telephone number (626) 351-4664. The Annual Report and Form 10-K are not
part of the Company's soliciting material.
By Order of the Board of Directors
/s/ Richard A. Lemmon
Richard A. Lemmon
Vice President and Secretary
Pasadena, California
January 11, 1999
17
COMMON STOCK
PROXY TETRA TECH, INC.
BOARD OF DIRECTORS
The undersigned hereby appoints Li-San Hwang and Richard A. Lemmon, or
either of them, the true and lawful attorneys and proxies of the undersigned,
with full power of substitution, to vote all shares of the Common Stock, $.01
par value ("Common Stock"), of TETRA TECH, INC. which the undersigned is
entitled to vote, at the Annual Meeting of the Stockholders of TETRA TECH, INC.
to be held at The Doubletree Hotel, 199 N. Los Robles Avenue, Pasadena,
California 91101 on Wednesday, February 17, 1999 at 10:00 a.m., Los Angeles
Time, and at any and all adjournments thereof, on the proposals set forth below
and any other matters properly brought before the Meeting.
1. ELECTION OF DIRECTORS FOR all nominees WITHHOLD AUTHORITY
/ / listed below / / to
(except as marked to vote for all
the contrary below) nominees
(INSTRUCTION: TO WITHHOLD AUTHORITY TO VOTE FOR ANY INDIVIDUAL NOMINEE, MARK THE
BOX NEXT TO THE NOMINEE'S NAME BELOW.)
/ /LI-SAN HWANG / /J. CHRISTOPHER LEWIS / /PATRICK C. HADEN
/ /JAMES J. SHELTON / /DANIEL A. WHALEN
2. SUCH OTHER MATTERS AS MAY PROPERLY COME BEFORE THE MEETING.
THE DIRECTORS RECOMMEND A VOTE FOR ALL NOMINEES LISTED IN PROPOSAL 1.
(CONTINUED AND TO BE SIGNED ON THE OTHER SIDE)
(CONTINUED FROM OTHER SIDE)
Unless a contrary direction is indicated, this Proxy will be voted FOR all
nominees listed in Proposal 1; if specific instructions are indicated, this
Proxy will be voted in accordance therewith.
All proxies to vote at said Meeting or any adjournment thereof heretofore
given by the undersigned are hereby revoked. Receipt of Notice of Annual Meeting
and Proxy Statement dated January 11, 1999 is acknowledged.
Please mark, sign, date and return this Proxy in the accompanying prepaid
envelope. THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF DIRECTORS OF TETRA
TECH, INC.
Dated: _______________, 1999
____________________________
(Signature)
____________________________
(Signature)
Please sign exactly as your
name appears hereon. When
shares are held by joint
tenants, both should sign.
When signing as attorney, as
executor, administrator,
trustee or guardian, please
give full title as such. If a
corporation, please sign in
full corporate name by
President or other authorized
officer. If a partnership,
please sign in partnership
name by authorized person.