Document:

exv10w34

 

Exhibit 10.34

FORM OF EXTERRAN HOLDINGS, INC. AWARD NOTICE

TIME-VESTED STOCK-SETTLED RESTRICTED STOCK UNITS

Exterran Holdings, Inc. (the “Company”), has
granted to you,
____________ (the “Participant”),
restricted stock units under the Exterran Holdings, Inc. 2007 Stock Incentive Plan (the “Plan”).
All capitalized terms not explicitly defined in this Award Notice but defined in the Plan shall
have the same meaning ascribed to them in the Plan.

The main terms of your Award are as follows:

     1.
Award. You
have been granted
____________ restricted stock units (the “Award” or
“RSUs”).

     2.
Grant Date. The date of this Award is _________ (the “Grant Date”).

     3. Vesting. Your Award is subject to a vesting schedule. A portion of your Award
(rounded to the nearest whole number) will automatically vest on each of the dates indicated
in the table below (each a “Vesting Date”). However, you must be employed by the Company or
one of its Affiliates at all times from the Grant Date up to and including the applicable
Vesting Date for that portion of the Award to vest. Contact Tiffany Lawrence at (281)
405-5115 with any questions concerning the vesting of your Award.

	 	 	 
	Vesting Date	 	Number of Shares Vested
	 

	 	 
	 

	 	 
	 

	 	 

     4. Payment. You will receive payment in the form of shares of Common Stock, which will
be issued to you in book entry form as soon as administratively practicable following each
Vesting Date.

     5. Termination of Employment. If your employment with the Company or an Affiliate
terminates for any reason (other than as a result of death or Disability), the unvested
portion of your Award will be automatically forfeited on the date of such event unless the
Compensation Committee directs otherwise. If your employment with the Company terminates as a
result of your death or Disability, the unvested portion of your Award will immediately vest
in full and all restrictions applicable to your Award will cease as of that date.

     6. Stockholder Rights. You will not have the right to vote the shares of Common Stock
underlying your RSUs or enjoy any other stockholder rights, or have the right to any dividends
paid with respect to the shares of Common Stock underlying your RSUs, prior to the Company’s
issuance of such shares of Common Stock following the applicable Vesting Date.

     7. Non—Transferability. Prior to vesting, you cannot sell, transfer, pledge, exchange
or otherwise dispose of your RSUs (except by will or the laws of descent and distribution).

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     8. No Right to Continued Employment. Nothing in this Award Notice guarantees your
continued employment with the Company or its Affiliates or interferes in any way with the
right of the Company or its Affiliates to terminate your employment at any time.

     9. Data Privacy. You consent to the collection, use, processing and transfer of your
personal data as described in this paragraph. You understand that the Company and/or its
Affiliates hold certain personal information about you (including your name, address and
telephone number, date of birth, social security number, social insurance number, etc.) for the
purpose of administering the Plan (“Data”). You also understand that the Company and/or its
Affiliates will transfer this Data amongst themselves as necessary for the purpose of
implementing, administering and managing your participation in the Plan, and that the Company
and/or its Affiliates may also transfer this Data to any third parties assisting the Company in
the implementation, administration and management of the Plan. You authorize them to receive,
possess, use, retain and transfer the information, in electronic or other form, for these
purposes. You also understand that you may, at any time, review the Data, require any necessary
changes to the Data or withdraw your consent in writing by contacting the Company. You further
understand that withdrawing your consent may affect your ability to participate in the Plan.

     10. Withholding. Your Award is subject to applicable income tax, social insurance, or
social security withholding obligations, and the Company and its Affiliates may, in their sole
discretion, withhold a sufficient number of shares of Common Stock that are otherwise issuable
to you pursuant to your Award to satisfy any such withholding obligations. If necessary, the
Company reserves the right to withhold from your regular earnings an amount sufficient to meet
the withholding obligations.

     11. Plan Governs. This Award Notice is subject to the terms of the Plan, a copy of
which is available on the Company’s website or which will be provided to you upon written
request addressed to Exterran Holdings, Inc., Stock Plan Administration, 12001 N. Houston
Rosslyn, Houston, TX 77086. All the terms and conditions of the Plan, as may be amended from
time to time, and any rules, guidelines and procedures which may from time to time be
promulgated and adopted pursuant to the Plan, are hereby incorporated into this Award Notice,
without regard to whether such terms and conditions are not otherwise set forth in this Award
Notice. In the event of a discrepancy between this Award Notice and the Plan, the Plan shall
govern.

     12. Participant Acceptance. If you do not accept the Award or the terms of the Award, you
must notify the Company in writing at the address provided above within thirty (30) days of
delivery of this Award Notice. Otherwise, the Company will deem the Award and the terms of the
Award to be accepted by you.

	 	 	 	 	 
	 	EXTERRAN HOLDINGS, INC.

 	 
	 	By:  	
 	 
	 	 	Stephen A. Snider 	 
	 	 	President and Chief Executive Officer 	 
	 

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Exhibit
10.35

FORM OF EXTERRAN HOLDINGS, INC. AWARD NOTICE

TIME-VESTED INCENTIVE STOCK OPTION

Exterran
Holdings, Inc. (the “Company”), has granted to you,                      (the “Participant”), an
Incentive Stock Option to purchase shares of Common Stock of the Company under the Exterran
Holdings, Inc. 2007 Stock Incentive Plan (the “Plan”). All capitalized terms not explicitly
defined in this Award Notice but defined in the Plan shall have the same meaning ascribed to them
in the Plan.

The main terms of your Award are as follows:

     1. Award. You have been granted an Incentive Stock Option (the “Award” or “Option”) to
purchase                      shares of Common Stock of the Company at an exercise price of $  per share
(the “Exercise Price”).

     2. Grant Date. The date of this Award is
                     (the “Grant Date”).

     3. Vesting. Your Award is subject to a vesting schedule. A portion of your Award (rounded
to the nearest whole number) will automatically vest and become exercisable on each of the dates
indicated in the table below (each a “Vesting Date”). However, you must be employed by the Company
or one of its Affiliates at all times from the Grant Date up to and including the applicable
Vesting Date for that portion of the Award to vest. Contact Tiffany Lawrence at (281) 405-5115
with any questions concerning the vesting of your Award.

	 	 	 
	Vesting Date
	 	Number of Shares Vested
	 
	 	 

     4. Term. The Award will continue in effect until the date that is 7 years from the Grant
Date (the “Expiration Date”), subject to earlier termination in accordance with Section 5 of this
Award Notice or the Plan.

     5. Termination of Employment. Your Award will either vest or be forfeited upon your
termination, depending on the reason for termination, as follows:

          (a) Termination as a Result of Death or Disability. Following a termination of employment as
a result of death or disability as defined in Section 22(e)(3) of the Code (“Disability”), the
unvested portion of your Award will immediately vest in full and become exercisable, and you (or
your legal representative) will be entitled to exercise the Award at any
time prior to the Expiration Date or the expiration 1 year after the date of your termination,
whichever is the shorter period.

          (b) Termination as a Result of Retirement. Following a termination of employment as a result
of your Retirement, the unvested portion of your Award will immediately vest in full and become
exercisable, and you will be entitled to exercise the Award at any time
prior to the Expiration Date or the expiration of three months after the date of your termination,
whichever is the shorter period.

          (c) Termination for Cause. Following a termination of employment for Cause, the outstanding
unexercised portion of your Award (whether vested or unvested) will be automatically forfeited on
the date of your termination.

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          (d) All Other Terminations. Following a termination of employment except as provided in
Sections 6(a), (b) and (c) above, you will be entitled to exercise the vested portion of your Award
at any time prior to the Expiration Date or the expiration of three months after the date of your
termination, whichever is the shorter period. The unvested portion of your Award will be
automatically forfeited.

     6. Exercise of Award. The exercise of your Option must be accompanied by full payment of the
Exercise Price for the shares of Common Stock being acquired by: (i) cash, (ii) a check acceptable
to the Company, (iii) the delivery of a number of already-owned shares of Common Stock having a
Fair Market Value equal to such Option price (provided you have owned such shares of Common Stock
for more than six months), (iv) a “cashless broker exercise” of the Option through any other
procedures established or approved by the Compensation Committee with respect thereto, or (v) any
combination of the foregoing approved by the Compensation Committee. No shares of Common Stock
will be issued until the Exercise Price has been paid. The Option will only be exercisable by you
except in the case of your death or Disability. To the extent exercisable after your death or
Disability, the Option may be exercised only by your representatives, executors, successors or
beneficiaries.

     7. Stockholder Rights. You will have no rights as a stockholder with respect to any shares
of Common Stock issuable upon exercise of the Option until you become the holder of record of such
shares of Common Stock.

     8. Non—Transferability. You cannot sell, transfer, pledge, exchange or otherwise dispose of
your Option (except by will or the laws of descent and distribution).

     9. No Right to Continued Employment. Nothing in this Award Notice guarantees your continued
employment with the Company or its Affiliates or interferes in any way with the right of the
Company or its Affiliates to terminate your employment at any time.

     10. Data Privacy. You consent to the collection, use, processing and transfer of your
personal data as described in this paragraph. You understand that the Company and/or its
Affiliates hold certain personal information about you (including your name, address and telephone
number, date of birth, social security number, social insurance number, etc.) for the purpose of
administering the Plan (“Data”). You also understand that the Company and/or its Affiliates will
transfer this Data amongst themselves as necessary for the purpose of implementing, administering
and managing your participation in the Plan, and that the Company and/or its Affiliates may also
transfer this Data to any third parties assisting the Company in the implementation, administration
and management of the Plan. You authorize them to receive, possess, use, retain and transfer the
information, in electronic or other form, for these purposes. You also understand that you may, at
any time, review the Data, require any necessary changes to the Data or withdraw your consent in
writing by contacting the Company. You further understand that withdrawing your consent may affect
your ability to participate in the Plan.

     11. Withholding. Your Award is subject to applicable income tax, social insurance, or social
security withholding obligations, and the Company and its Affiliates may, in their sole discretion,
withhold a sufficient number of shares of Common Stock that are otherwise issuable to you under
this Award in order to satisfy any such withholding obligations. If necessary, the Company also
reserves the right to withhold from your regular earnings an amount sufficient to meet the
withholding obligations.

     12. Plan Governs. This Award Notice is subject to the terms of the Plan, a copy of which is
available on the Company’s website or which will be provided to you upon written request addressed
to Exterran Holdings, Inc., Stock Plan Administration, 12001 N. Houston Rosslyn, Houston, TX
77086. All the terms and conditions of the Plan, as may be amended from time to time, and any
rules, guidelines and procedures which may from time to time be promulgated and adopted pursuant to
the Plan, are hereby incorporated into this Award Notice, without regard to whether such terms and
conditions are not otherwise set forth in this Award Notice. In the event of a discrepancy between
this Award Notice and the Plan, the Plan shall govern.

     13. Qualification as Incentive Stock Option. This Option is intended to be an incentive
stock option under Section 422 of the Code; provided, however, that neither the Company, its
directors, officers, employees or the Committee, nor any Affiliate which is in existence or
hereafter comes into existence, shall be liable to you or any other person or entity if it is
determined for any reason by the

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Internal Revenue Service or any court having jurisdiction that the Option does not qualify for
tax treatment as an incentive stock option under Section 422 of the Code.

     14. Participant Acceptance. If you do not accept the Award or the terms of the Award, you
must notify the Company in writing at the address provided above within thirty (30) days of
delivery of this Award Notice. Otherwise, the Company will deem the Award and the terms of the
Award to be accepted by you.

	 	 	 	 	 
	 	EXTERRAN HOLDINGS, INC.

 	 
	 	By:  	 	 
	 	 	Stephen A. Snider 	 
	 	 	President and Chief Executive Officer 	 
	 

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