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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
 Washington, D.C. 20549
 
 FORM 8-K
 CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
 Date
of report (Date of earliest event reported): March 15, 2007
 
 HANOVER COMPRESSOR COMPANY
  Delaware
(State or Other Jurisdiction of 
Incorporation or Organization)
    
    001-13071
(Commission
File Number)
    
    76-0625124
(I.R.S. Employer
Identification No.)
 12001 North Houston Rosslyn 
Houston, Texas
(Address of Principal Executive Offices)
    
    77086
(Zip Code)
 (281) 447-8787
 Not Applicable.
  o
 o
 o
 o




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TABLE OF CONTENTS  Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.Item 9.01 Financial Statements and Exhibits.SIGNATURESEXHIBIT INDEXRetention Bonus PlanForm of Retention Bonus Award Letter    Table of Contents  
 Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain
Officers; Compensatory Arrangements of Certain Officers.
  Amount ofOfficer
    
    Title
    
    Increase
    
    New SalaryJohn E. Jackson
    
    President and Chief Executive Officer; Director
    
    $
    35,000
    
    
    $
    600,000Brian A. Matusek
    
    Senior Vice President  Western Hemisphere
    
    $
    30,000
    
    
    $
    340,000Norman A. Mckay
    
    Senior Vice President  Eastern Hemisphere
    
    $
    30,000
    
    
    $
    340,000Gary M. Wilson
    
    Senior Vice President, General Counsel and Secretary
    
    $
    25,000
    
    
    $
    335,000Lee E. Beckelman
    
    Senior Vice President and Chief Financial Officer
    
    $
    30,000
    
    
    $
    330,000Steven W. Muck
    
    Vice President  Global Human Resources and Health, Safety and Environment
    
    $
    20,000
    
    
    $
    270,000Stephen P. York
    
    Vice President  Investor Relations and Technology
    
    $
    12,000
    
    
    $
    212,000Peter G. Schreck
    
    Vice President  Treasurer
    
    $
    12,000
    
    
    $
    210,000Anita H. Colglazier
    
    Vice President  Controller
    
    $
    15,000
    
    
    $
    200,000
 Retention Bonus Plan




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##### Table of Contents



EstimatedRetentionOfficer
    
    Title
    
    BonusJohn E. Jackson
    
    President and Chief Executive Officer; Director
    
    $
    0Brian A. Matusek
    
    Senior Vice President  Western Hemisphere
    
    $
    0Norman A. Mckay
    
    Senior Vice President  Eastern Hemisphere
    
    $
    310,000Gary M. Wilson
    
    Senior Vice President, General Counsel and Secretary
    
    $
    310,000Lee E. Beckelman
    
    Senior Vice President and Chief Financial Officer
    
    $
    0Steven W. Muck
    
    Vice President  Global Human Resources and Health, Safety and Environment
    
    $
    250,000Stephen P. York
    
    Vice President  Investor Relations and Technology
    
    $
    200,000Peter G. Schreck
    
    Vice President  Treasurer
    
    $
    0Anita H. Colglazier
    
    Vice President  Controller
    
    $
    150,000
 
 Item 9.01
Financial Statements and Exhibits.
  Exhibit No.
    
    Description10.1*
    
    Retention Bonus Plan10.2*
    
    Form of Retention Bonus Award Letter
 
 *
    
    Filed herewith




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##### Table of Contents



SIGNATURES
  HANOVER COMPRESSOR COMPANYDate:  March 21, 2007
    By:

/s/ Suzanne B. KeanName:
    Suzanne B. KeanTitle:
    Vice President and Deputy General Counsel




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##### Table of Contents



EXHIBIT INDEX
 Exhibit No.
    
    Description10.1
    
    Retention Bonus Plan10.2
    
    Form of Retention Bonus Award Letter