ZnTe͑110͒ is widely used as a source of terahertz radiation generated by optical rectification. However, when ZnTe͑110͒ is excited with 800 nm light, optical rectification is not the only process which can occur. Specifically, second harmonic generation and two-photon absorption are also possibilities. In addition, free carriers generated by two-photon absorption can absorb terahertz radiation, further reducing the efficiency of optical rectification. We have used terahertz emission spectroscopy to study these effects by analyzing the dependence of the terahertz waveform on excitation fluence. At high excitation fluences, the overall efficiency is reduced and the trailing edge of the waveform is attenuated. A simple model reproduces the measured behavior.