Document:

exv10w22

Exhibit 10.22

FIRST AMENDMENT

TO

EXTERRAN HOLDINGS, INC.

DIRECTORS’ STOCK AND DEFERRAL PLAN

     This First Amendment to the Exterran Holdings, Inc. Directors’ Stock and Deferral Plan (the
“Plan”) is hereby duly adopted by the Board of Directors (the “Board”) of Exterran Holdings, Inc.,
a Delaware corporation (the “Company”). All capitalized terms used but not defined herein shall
have the meanings set forth in the Plan.

Recitals:

     WHEREAS, the Company previously adopted and maintains the Plan; and

     WHEREAS, pursuant to Section 8 of the Plan, the Company has the right to amend the Plan at any
time by action of the Board; and

     WHEREAS, the Company desires to amend the Plan in order to reflect the applicable requirements
of Section 409A of the Internal Revenue Code of 1986, as amended, and the final regulations issued
thereunder;

     NOW, THEREFORE, the Company hereby amends the Plan, effective as of the close of business on
December 31, 2008, as follows:

     1. The second sentence of Paragraph 4 of the Plan is hereby amended to read as follows:

“Any portion of the Retainer Fees that is not paid in the form of Common Stock will
be paid to the Director in cash, on a calendar quarter basis, within 30 days after
the close of the calendar quarter for which such Retainer Fees were earned.”

     2. The second sentence of the second paragraph of Paragraph 5 of the Plan is hereby amended to
read as follows:

“The deferral date may be any date which is not earlier than the expiration of six
(6) months from the close of the calendar quarter for which the Retainer Fees were
earned; provided, however, that each deferral election of a Director shall
automatically terminate upon the earlier of (i) his ‘Separation from Service’ (as
defined under Section 409A of the Internal Revenue Code of 1986, as amended (the
‘Code’), and the accompanying regulations issued thereunder) for any reason or (ii)
the date of a Change in Control of the Company.”

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	     3.	 	The first sentence of the third paragraph of Paragraph 5 of the Plan is hereby deleted and
the last sentence in the third paragraph of Paragraph 5 of the Plan is hereby amended to read as
follows:

“In addition to meeting the requirements of an event under subparagraphs (i), (ii)
or (iii) above, the Change in Control shall meet the requirements of Section
409A(a)(2)(A)(v) of the Code and the accompanying regulations issued thereunder.”

     4. The first sentence of the fifth paragraph of Paragraph 5 of the Plan is hereby amended to
read as follows:

“The Company shall issue the whole shares of Common Stock (in book entry form)
represented by a Participant’s phantom units, with any fractional units paid in
cash, within thirty (30) days after the deferral date (which is the earliest of (i)
the date elected by the Participant, (ii) the date of the Participant’s Separation
from Service for any reason (including death) or (iii) the date of a Change in
Control of the Company.”

     5. The first sentence of the sixth paragraph of Paragraph 5 of the Plan is hereby amended to
read as follows:

“In the event of a Participant’s death, the Company shall issue the whole shares of
Common Stock represented by the Participant’s phantom units, with any fractional
units paid in cash, to the legal representative of the Participant’s estate within
thirty (30) days after the date of the Participant’s death or, if earlier, within
thirty (30) days after the deferral date.”

     6. Paragraph 6 of the Plan is hereby amended by adding the following paragraph to the end
thereof which shall read as follows:

“No adjustment authorized by this paragraph 6 shall be made by the Company in such
manner that would cause or result in this Plan or any amounts or benefits payable
hereunder to fail to comply with the requirements of Section 409A of the Code, to
the extent applicable.”

     7. Paragraph 7 of the Plan is hereby amended by adding the following sentences to the end
thereof:

“The foregoing notwithstanding, this Plan is intended to comply with Section 409A of
the Code and ambiguous provisions hereof, if any, shall be construed and interpreted
in a manner that is compliant with the application of Section 409A.”

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

     IN WITNESS WHEREOF, Exterran Holdings, Inc. has caused this First Amendment to be executed by
its duly authorized officer as of this 28th day of October, 2008, but effective as set forth above.

	 	 	 	 	 
	 	EXTERRAN HOLDINGS, INC.

 	 
	 	By:  	 	 
	 	 	Name:  	Ernie L. Danner 	 
	 	 	Title:  	President and Chief Operating Officer 	 
	 

- 3 -exv10w35

Exhibit 10.35

EXTERRAN HOLDINGS, INC.

NOTICE OF SECOND AMENDMENT TO GRANT OF

UNIT APPRECIATION RIGHTS

     THIS SECOND AMENDMENT TO GRANT OF UNIT APPRECIATION RIGHTS (the “Amendment”) is delivered by
Exterran Holdings, Inc., a Delaware corporation (the “Company”).

W I T N E S S E T H:

     WHEREAS, Universal Compression Holdings, Inc. previously granted to the Grantee unit
appreciation rights (“UARs”) with respect to Common Units of Universal Compression Partners, L.P.,
pursuant to the terms and conditions set forth in an 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 desires to amend the Agreement to comply with the final regulations
issued under Section 409A of the Internal Revenue Code;

     NOW, THEREFORE, effective as of the close of business on December 31, 2008, the Agreement is
hereby amended as follows:

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

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

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

     IN WITNESS WHEREOF, the Company has executed this Second Amendment on this 18th day
of December, 2008, with an effective date of December 31, 2008.

	 	 	 	 	 
	 	EXTERRAN HOLDINGS, INC.

 	 
	 	By:  	 	 
	 	 	Stephen A. Snider 	 
	 	 	Chairman of the Board 	 
	 

 

     Grantees are advised to keep a copy of this Notice of Second Amendment with
the Agreement for future reference.

2exv10w47

Exhibit 10.47

UNIVERSAL HOLDINGS, INC. INCENTIVE STOCK OPTION PLAN

INCENTIVE STOCK OPTION AGREEMENT

FIRST AMENDMENT

          THIS FIRST AMENDMENT TO THE INCENTIVE STOCK OPTION AGREEMENTS (the “Amendment”) is entered
into by and between Exterran Holdings, Inc., a Delaware corporation (the “Company”), and Stephen A.
Snider (the “Employee”).

W I TN E S S E T H:

          WHEREAS, Universal Compression Holdings, Inc. previously granted to the Employee:

          (a) on March 9, 2005, an option to purchase 2,621 shares of its common stock under the
Universal Compression Holdings, Inc. Incentive Stock Option Plan, as amended (the “Plan”), at an
exercise price of $38.15 per share, pursuant to the terms and conditions of an Incentive Stock
Option Agreement (the “2005 Agreement”) and the Plan; and

          (b) on March 3, 2006, an option to purchase 2,304 shares of its common stock under the Plan at
an exercise price of $43.39 per share, pursuant to the terms and conditions of an Incentive Stock
Option Agreement (the “2006 Agreement”) and the Plan; and

          (c) on June 12, 2007, an option to purchase 3,984 shares of its common stock under the Plan at
an exercise price of $75.265 per share, pursuant to the terms and conditions of an Incentive Stock
Option Agreement (together with the 2005 Agreement and the 2006 Agreement, the “Agreements”) and
the Plan; and

          WHEREAS, as of August 20, 2007, the Company assumed the sponsorship of the Plan 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 has determined that the Employee’s termination of employment with the
Company (other than due to death, Disability or Cause) shall constitute “retirement” under the
Plan; and

          WHEREAS, the Committee and the Employee desire to amend the Agreements to make certain changes
with regard to the vesting and exercise provisions of each Agreement;

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

     1. Section 2(b)(i) of each Agreement is hereby amended to read as follows:

     “(i) Termination due to Death, Disability or Retirement. In the event
the Employee’s employment with the Company terminates on account of death or
Disability (as defined in the Plan), the Option shall terminate as of the date of
Employee’s termination of employment, except for the portion of the Option which is
exercisable as of the date of termination of employment, which shall terminate three
months following the date of Employee’s death or Disability. In the event the
Employee’s employment with the Company terminates on account of retirement, the
Option shall fully vest and become exercisable as of the date of termination of
employment, and shall terminate on the tenth anniversary of the Grant Date
(provided, however, that in the event the Option is exercised more than three months
after the date of the Employee’s termination of employment on account of retirement,
the Option shall not be treated as an incentive stock option under Section 422 of
the Code).”

     2. Each 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 effective as of October 27, 2008.

	 	 	 	 	 	 	 
	 	 	EXTERRAN HOLDINGS, INC.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Stephen M. Pazuk	 	 
	 

	 	 	 	Chairman, Compensation Committee	 	 
	 
	 	 	 	 	 	 
	 	 	EMPLOYEE	 	 
	 
	 	 	 	 	 	 
	 	 	 	 	 
	 	 	Stephen A. Snider	 	 

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