Document:

exv10w1

 

Exhibit 10.1

AMENDMENT NUMBER TWO

TO THE

UNIVERSAL COMPRESSION HOLDINGS, INC.

EMPLOYEE STOCK PURCHASE PLAN

     This Amendment Number Two (this “Amendment”) to the Universal Compression Holdings, Inc.
Employee Stock Purchase Plan (as amended by Amendment Number One dated as of December 20, 2001, the
“Plan”) is hereby duly adopted, approved, ratified and confirmed by the Board of Directors of
Universal Compression Holdings, Inc., a Delaware corporation (the “Company”). All capitalized
terms used but not defined herein shall have the meanings set forth in the Plan.

     WHEREAS, the Board of Directors of the Company (the “Board”) previously adopted the Plan; and

     WHEREAS, Section 9.01 of the Plan reserves to the Company the right to amend or terminate the
Plan at any time by action of the Board; and

     WHEREAS, in connection with the closing (the “Closing”) of the transactions contemplated by
that certain Agreement and Plan of Merger, dated as of February 5, 2007, as amended, by and among
the Company, Hanover Compressor Company, Exterran Holdings, Inc. (formerly known as Iliad Holdings,
Inc.) (“Exterran”), Ulysses Sub, Inc. and Hector Sub, Inc., the Company and Hanover will become
wholly owned subsidiaries of Exterran and the Plan will terminate immediately prior to the Closing;
and

     WHEREAS, in connection with the termination of the Plan, the Board desires to amend the Plan
to cause the Option Period that commenced on July 1, 2007, to end immediately prior to the Closing
on the date thereof, such that shares of Common Stock shall be purchased as of that date, in
accordance with the terms of the Plan;

     NOW, THEREFORE, the Board hereby amends the Plan as follows:

     1. The first sentence of the first paragraph of Section 4.02 of the Plan is hereby amended and
restated to read in its entirety as follows:

     “The Company may make periodic Offerings to eligible employees to purchase
Common Stock under the Plan, the duration of which may be for a period of three
months up to a period of one year; provided however, that the initial Offering
Period may be for a period of less than three months, as determined by the
Committee, and the final Offering Period shall be less than three months, as
provided herein.”

     2. The second paragraph of Section 4.02 of the Plan is hereby amended and restated to read in
its entirety as follows:

     “As used in the Plan, ‘Offering Commencement Date’ means the January 1, April
1, July 1 or October 1, as the case may be, on which the

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particular
Offering begins (except with respect to the initial Offering Commencement Date,
which shall be September 1, 2001). ‘Offering Termination Date’ means the March 31,
June 30, September 30 or December 31, as the case may be, on which the particular
Offering terminates (except that, in the case of the final Offering Period, the
Offering Termination Date shall be the trading day immediately prior to the date of
the Closing (as defined below)), and ‘Offering Period’ means the period from the
Offering Commencement Date to the Offering Termination Date. The ‘Closing’ means
the closing of the transactions contemplated by that certain Agreement and Plan of
Merger, dated as of February 5, 2007, as amended, by and among the Company, Hanover
Compressor Company, Exterran Holdings, Inc., Ulysses Sub, Inc. and Hector Sub, Inc.”

     3. Section 6.10 of the Plan is hereby amended to add the following new sentence to the end
thereof:

     “As soon as practicable after the Offering Termination Date for the final Offering
Period, any and all cash remaining in Participants’ accounts after the purchase of
whole shares of Common Stock for such Offer Period shall be returned (without the
payment of interest) to the Participants.”

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

     IN WITNESS WHEREOF, Universal Compression Holdings, Inc. has caused this amendment to be
executed by its duly authorized officer, effective as of July 30, 2007.

	 	 	 	 	 
	 	UNIVERSAL COMPRESSION HOLDINGS, INC.

 	 
	 	By:  	/s/
Donald C. Wayne 	 
	 	 	Name:  	Donald C. Wayne 	 
	 	 	Title:  	Vice President, General Counsel and Secretary	 
	 

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Exhibit 10.2

FIRST AMENDMENT TO UNIVERSAL COMPRESSION, INC.

401(k) RETIREMENT AND SAVINGS PLAN

     WHEREAS, Universal Compression, Inc. (the “Company”) has previously established and
maintains the Universal Compression, Inc. 401(k) Retirement and Savings Plan, pursuant to the
adoption of the Union Bank of California, N.A. SelectBENEFIT Prototype Non-Standardized 401(k)
Profit Sharing Plan and Trust (the “Plan”), to provide benefits for its eligible employees; and

     WHEREAS, in connection with the closing (the “Closing”) of the transactions contemplated by
that certain Agreement and Plan of Merger, dated as of February 5, 2007, as amended, by and among
Universal Compression Holdings, Inc. (“UCH”), Hanover Compressor Company (“Hanover”), Exterran
Holdings, Inc. (formerly known as Iliad Holdings, Inc.) (“Exterran”), Ulysses Sub, Inc. and Hector
Sub, Inc., pursuant to which the UCH and Hanover will become wholly owned subsidiaries of Exterran,
the Company desires to amend the Plan, by amendment of the Adoption Agreement for Union Bank of
California, N.A. SelectBENEFIT Prototype Non-Standardized 401(k) Profit Sharing Plan and Trust
(“Adoption Agreement”), to provide that the employer contributions in the accounts of employees who
are participants in the Plan as of the date of the Closing shall be fully vested as of such date
(with all subsequent contributions subject to the applicable vesting schedule under the Plan); and

     NOW, THEREFORE, in consideration of the above premises, the Company hereby amends the Plan,
effective as of the date of the Closing, as follows:

     1. Item 19.h. of the Adoption Agreement is hereby amended to add the following new sentences
to the end thereof.

“Notwithstanding the above, Participants who are Employees of the Employer as of the
date of the closing (the ‘Closing’) of the transactions contemplated by that certain
Agreement and Plan of Merger, dated as of February 5, 2007, as amended, by and among
Universal Compression Holdings, Inc., Hanover Compressor Company (‘Hanover’),
Exterran Holdings, Inc. (formerly known as Iliad Holdings, Inc.) (‘Exterran’),
Ulysses Sub, Inc. and Hector Sub, Inc., shall be fully vested in their Employer
Contributions (along with earnings attributable thereto) in their accounts under the
Plan as of the date of the Closing. Employer Contributions to the Plan after the
date of the Closing shall be subject to, and follow, the vesting schedule indicated
above for Employer Contributions in this Section 19 of the Adoption Agreement.”

     2. Item 19.q. of the Adoption Agreement is hereby amended to add the following new sentences
to the end thereof.

“Notwithstanding the above, Participants who are Employees of the Employer as of the
date of the Closing (as defined in Section 19.f. above), shall be fully vested in
their Employer Matching Contributions (along with earnings attributable thereto) in
their accounts under the Plan as of the date of the Closing. Employer Matching
Contributions to the Plan after the date of the Closing shall be subject to, and
follow, the vesting schedule indicated above for Employer Matching Contributions in
this Section 19 of the Adoption Agreement.”

 

 

     3. The Plan, pursuant to the Adoption 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 caused this amendment to be executed by its duly
authorized officer, effective as of July 30, 2007.

	 	 	 	 	 
	 	UNIVERSAL COMPRESSION, INC.

 	 
	 	By:  	/s/
Donald C. Wayne 	 
	 	 	Name:  	Donald C. Wayne 	 
	 	 	Title:  	Vice President, General Counsel and Secretaryexv10w3

 

EXHIBIT 10.3

Form of

Universal Compression Holdings, Inc.

Amendment to Grant of Unit Appreciation Rights

     THIS AMENDMENT TO GRANT OF UNIT APPRECIATION RIGHTS (the “Amendment”) is entered into and
effective as of ___, 2007, by and between Universal Compression Holdings, Inc. (the
“Company”), and ___(the “Grantee”).

W I T N E S S E T H:

     WHEREAS, the Company granted to Grantee ___unit appreciation rights
(“UARs”) with respect to Common Units of Universal Compression Partners, L.P. on the terms and
conditions set forth in an Award Agreement, with a Grant Date of ___(“Agreement”), a
copy of which is attached hereto; and

     WHEREAS, pursuant to Section 8 of the Agreement, the Company and the Grantee desire to amend
the Agreement to make certain changes with regard to the termination provisions of the Agreement;

     NOW, THEREFORE, effective as of the date hereof, the Agreement is hereby amended as follows:

     1. Section 3 of the Agreement is hereby amended to add a new paragraph (c) thereunder to read
in its entirety as follows:

	 	 	 	“Termination Without Cause. If the Company terminates your employment
without Cause (as defined below) prior to the vesting date, your UARs shall
continue to vest following your termination date and, upon the vesting date,
January 1, 2009, shall be exercisable in accordance with the terms of this
Section 3 of the Agreement, but in no event shall the UARs be exercisable later
than December 31, 2009. If the Company terminates your employment without
Cause on or after the vesting date, your UARs may be exercised, subject to the
further provisions of this Agreement, by you or by your guardian or legal
representative (or by 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) at any time during the period following such
termination until December 31, 2009, but only as to the vested number of UARs,
if any, that you were entitled to purchase hereunder as of the date your
employment so terminates.

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	 	 	 	For purposes of this paragraph, ‘Cause’ means (i) your commission of an act
of fraud, embezzlement or willful breach of a fiduciary duty to the Company
or an Affiliate (including the unauthorized disclosure of or proprietary
material information of the Company or an Affiliate), (ii) your conviction
(or a plea of nolo contendere in lieu thereof) of a felony or a crime
involving fraud, dishonesty or moral turpitude, (iii) your willful failure
to follow the written directions of the Chief Executive Officer of the
Company, Company management, or the Company Board, in the case of executive
officers of the Company, when such directions are consistent with your
customary duties and responsibilities and where your refusal has continued
for more than 10 days following written notice; (iv) your willful misconduct
as an employee of the Company or an Affiliate which includes your failure to
adhere to the Company’s Code of Business Conduct and Ethics; (v) your
willful failure to render services to the Company or an Affiliate in
accordance with your employment arrangement, which failure amounts to a
material neglect of your duties to the Company or an Affiliate, or (vi) your
substantial dependence, as determined by the Committee, on any drug,
immediate precursor or other substance listed on Schedule IV of the Federal
Comprehensive Drug Abuse Prevention and Control Act of 1970, as amended, as
determined in the sole discretion of the Committee.”

     2. The former Section 3(c) of the Agreement is hereby renumbered as Section 3(d) and amended
and restated to read in its entirety as follows:

	 	 	 	“Other Terminations. If your employment with the Company is terminated for
any reason other than as provided in the 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 (i) during the three-month period
following such termination, if such termination is prior to October 1, 2009, or
(ii) during the period following such termination until December 31, 2009, if
such termination is after September 30, 2009.”

     3. The former Section 3(d) of the Agreement is hereby renumbered as Section 3(e).

     4. The last two paragraphs of section 3 of the Agreement are hereby amended and
restated to read as follows:

     “Notwithstanding any of the foregoing, the UARs shall not be exercisable in any
event after December 31, 2009.

     Except as otherwise provided in paragraphs 3(a), (b), (c) or (d) above, all
UARs that are not vested on the date of your termination of employment with the
Company shall be automatically canceled without payment upon such termination.”

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     5. 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, by its duly authorized officer, and the Grantee have caused
this Amendment to be executed all as of the day and year first above written.

	 	 	 	 	 
	 	Universal Compression Holdings, Inc.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

	 	 	 	 	 
	 	Grantee

 

 	 
	 	 	 
	 	 	 
	 	 	 
	 

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