exv10w53






Exhibit 10.53




EXTERRAN HOLDINGS, INC.

SECOND AMENDMENT TO GRANT OF UNIT APPRECIATION RIGHTS




          THIS SECOND AMENDMENT TO GRANT OF UNIT APPRECIATION RIGHTS (the “Amendment”) is entered into
by and between Exterran Holdings, Inc., a Delaware corporation (the “Company”), and Stephen A.
Snider (the “Grantee”).




W I T N E S S E T H:




          WHEREAS, Universal Compression Holdings, Inc. previously granted to the Grantee, on December
13, 2006, 85,714 unit appreciation rights (“UARs”) with respect to Common Units of Universal
Compression Partners, L.P., with an exercise price of $25.94 per unit, pursuant to the terms and
conditions set forth in a Grant of Unit Appreciation Rights Award Agreement, as amended (the
“Agreement”); and




          WHEREAS, as of August 20, 2007, the Company assumed the obligations of Universal Compression
Holdings, Inc., with respect to the UARs granted under the Agreement and the Compensation Committee
of the Board of Directors of the Company (the “Committee”) has the authority to determine the terms
and conditions of the Agreement; and




          WHEREAS, the Committee and the Grantee desire to the amend the Agreement to make certain
changes with regard to the exercise provisions of the Agreement, as permitted under IRS Notice
2007-86;




          NOW, THEREFORE, effective as of October 27, 2008, the Agreement is hereby amended as follows:




     1. Paragraph 3(d) of the Agreement (“Other Terminations”) is hereby amended to read as
follows:



“Other Terminations. If your employment with the Company is terminated for
any reason other than as provided in paragraphs 3(a), (b) or (c) above, to the
extent vested on the date of your termination, subject to the further
provisions of this Agreement, you or your guardian or legal representative (or
your estate or the person who acquires the UARs by will or the laws of descent
and distribution or otherwise by reason of your death if you die during such
period) may exercise the UARs at any time on or after January 1, 2009 until
December 31, 2009 (and your UARs, to the extent not exercised during this
period shall terminate and be of no further force and effect as of the close of
business on December 31, 2009).”



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     2. Paragraph 10 of the Agreement (“Section 409A”) is hereby amended by adding the following
sentence to the end thereof:




“If you are a ‘specified employee’ within the meaning of Code Section 409A as of the
date your employment with the Company terminates prior to January 1, 2009, and your
UARs vest due to your termination, then any UARs you exercise during the six month
period commencing on your termination date shall not be paid until the second day
following the end of such six month period (or, if earlier, the date of your
death).”



     3. The Agreement shall remain in full force and effect and, as amended by this Amendment, is
hereby ratified and affirmed in all respects.



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          IN WITNESS WHEREOF, the parties have executed this Amendment effective as of October 27, 2008.




	 	 	 	 	 	 	 
	 	 	EXTERRAN HOLDINGS, INC.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Stephen M. Pazuk	 	 
	 

	 	 	 	Chairman, Compensation Committee	 	 
	 
	 	 	 	 	 	 
	 	 	GRANTEE	 	 
	 
	 	 	 	 	 	 
	 	 	 	 	 
	 	 	Stephen A. Snider	 	 







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