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EXHIBIT 10.23    
    

 
 

THIRD AMENDMENT AND SUPPLEMENT
  TO SENIOR SECURED REVOLVING CREDIT AGREEMENT    
    

        THIS THIRD AMENDMENT AND SUPPLEMENT TO SENIOR SECURED REVOLVING CREDIT AGREEMENT (this "Third Amendment") is made
and entered into as of the 13th day of February, 2004 (the "Effective Date"), among UNIVERSAL COMPRESSION, INC., a Texas
corporation ("Borrower"); WACHOVIA BANK, NATIONAL ASSOCIATION (formerly known as First Union National Bank), as administrative agent (in such capacity,
the "Administrative Agent") for each of the lenders (the "Lenders") that is a signatory or which becomes
a signatory to the hereinafter defined Credit Agreement; and the Lenders. 

R
E C I T A L S: 

        A.    On
February 9, 2001, the Borrower, the Lenders and the Administrative Agent entered into a certain Senior Secured Revolving Credit Agreement (as heretofore
amended, modified or restated, the "Credit Agreement") whereby, upon the terms and conditions therein stated, the Lenders agreed to make certain Loans
(as such term is defined in the Credit Agreement) and extend certain credit to the Borrower. 

        B.    The
Borrower, the Lenders and the Administrative Agent mutually desire to further amend the Credit Agreement to permit Letters of Credit (as such term is defined in the
Credit Agreement) to expire after the Revolving Credit Termination Date (as such term is defined in the Credit Agreement). 

        NOW,
THEREFORE, in consideration of the mutual covenants and agreements herein contained, the Borrower, the Lenders and the Administrative Agent hereby agree that the Credit Agreement
shall be amended as follows: 

        1.     Certain Definitions.

        1.1   Terms Defined Above. As used in this Third Amendment, the terms "Administrative Agent", "Borrower", "Credit Agreement",
"Effective Date" and "Third Amendment" shall have the meanings indicated above. 

        1.2   Terms Defined in Credit Agreement. Unless otherwise defined herein, all terms beginning with a capital letter which are
defined in the Credit Agreement shall have the same meanings herein as therein unless the context hereof otherwise requires. 

        2.     Amendments to Credit Agreement.

        2.1   Defined Terms. The term "Agreement", as defined in Section 1.02 of the Credit Agreement, is hereby amended to mean
the Credit Agreement, as amended and supplemented by this Third Amendment and as the same may from time to time be further amended or supplemented. 

        2.2   Additional Defined Terms. Section 1.02 of the Credit Agreement is hereby further amended and supplemented by
adding the following new definition, which reads in its entirety as follows: 

        "Third Amendment' shall mean that certain Third Amendment and Supplement to Senior Secured Revolving Credit Agreement dated as of
February 13, 2004, among the Borrower, the Lenders and the Administrative Agent." 

1

 

        2.3   Letters of Credit. Section 2.01(b) of the Credit Agreement is hereby amended and supplemented by adding thereto a
new paragraph, to be the second and last paragraph thereof, to read in its entirety as follows: 

"Notwithstanding
anything to the contrary contained in this Agreement, including, without limitation, this Section 2.01(b), the expiration date of one or more Letters of Credit may extend
beyond the Revolving Credit Termination Date; provided, however, it is hereby expressly agreed and
understood that: 

          (i)  the
aggregate face amount of all such Letters of Credit shall not at any time exceed $15,000,000; 

         (ii)  the
expiration dates of such Letters of Credit shall not extend more than three (3) years beyond the Revolving Credit Termination Date; 

        (iii)  the
Borrower shall, not later than five (5) Business Days prior to the Revolving Credit Termination Date, deposit in an account with the Administrative Agent,
in the name of the Administrative Agent and for the benefit of the Administrative Agent and the Lenders, an amount in cash equal to the aggregate face amount of all such Letters of Credit as of such
date, and the Administrative Agent shall have exclusive dominion and control (including the exclusive right of withdrawal) over such account; 

        (iv)  if
the Issuing Bank makes any disbursement in connection with a Letter of Credit after the Revolving Credit Termination Date, such disbursement shall be an advance on
behalf of the Borrower under this Agreement and shall be reimbursed to the Issuing Bank either (A) by the Administrative Agent applying amounts in the cash collateral account referred to in
clause (iii) above until reimbursed in full, or (B) by the Borrower pursuant to Section 2.10 (except that the Borrower shall not have the right to request that the Lenders make,
and the Lenders shall not have any obligation to make, a Loan under this Agreement after the Revolving Credit Termination Date to fund any such disbursement); and 

         (v)  subject
to the provisions of Section 9.16 of the Guarantee and Collateral Agreement dated as of February 9, 2001 among the Borrower, Holdings, certain
Subsidiaries and the Administrative Agent, all such disbursements referred to in clause (iv) of this paragraph shall be secured only by the cash
collateral referred to in clause (iii) of this paragraph and the Borrower hereby grants, and by each deposit of such cash collateral with the Administrative Agent grants, to the Administrative
Agent a first-priority security interest in all such cash collateral, without any further action on the part of the Issuing Bank, the Borrower, the Administrative Agent, any Lender or any other Person
now or hereafter party hereto (other than any action the Administrative Agent reasonably deems necessary to perfect such security interest, which action the Borrower hereby authorizes the
Administrative Agent to take), until same are reimbursed in full. 

If,
on the Revolving Credit Termination Date (A) the Commitments have been terminated, (B) the Loans, all interest thereon and all other amounts payable by the Borrower hereunder or in
connection herewith (other than LC Exposure in connection with any Letter of Credit having an expiration date extending beyond the Revolving Credit Termination Date as permitted by
Section 2.01(b)) have been paid in full, and (C) the conditions set forth in clause (iii) above have been fully satisfied, then from and after such date the following provisions
of this Agreement shall not be operative: Sections 8.01 (other than Sections 8.01(a) and (b), which shall remain operative), 8.02 (except as the same may affect a Letter of Credit), 8.03(b), 8.04,
8.09, 8.10, 9.01, 9.02 (except for cash collateral securing Letters of Credit), 9.03, 9.04, 9.06, 9.08, 9.10, 9.11, 9.13, 9.14, 9.15, 9.16, 9.17 and 9.18. 

2

 

If,
after payment in full of all Indebtedness of the Borrower hereunder (including without limitation, reimbursement obligations with respect to Letters of Credit) and the expiration or cancellation
of all outstanding Letters of Credit, there remains any amount on deposit in the cash collateral account referred to in clause (iii) above, the Administrative Agent shall, within three Business
Days after all such Indebtedness is paid in full and all outstanding Letters of Credit have expired or been cancelled, return such amount to the Borrower." 

        2.4   Legal Existence. Section 7.01 of the Credit Agreement shall be deleted in its entirety and the following shall be
substituted in place thereof: 

        "Section 7.01
Legal Existence. Each of the Borrower and each Subsidiary: (i) is a legal entity duly organized, legally
existing and in good standing (if applicable) under the laws of the jurisdiction of its formation; (ii) has all requisite power, and has all material governmental licenses, authorizations,
consents and approvals necessary to own its assets and carry on its business as now being or as proposed to be conducted; and (iii) is qualified to do business in all jurisdictions in which the
nature of the business conducted by it makes such qualification necessary and where failure so to qualify would have a Material Adverse Effect." 

        2.5   Authority. Section 7.05 of the Credit Agreement shall be deleted in its entirety and the following shall be
substituted in place thereof: 

        "Section 7.05  Authority. The Borrower and each Subsidiary have all necessary power and authority to execute, deliver and perform
its obligations under the Loan Documents to which it is a party; and the execution, delivery and performance by the Borrower and each Subsidiary of the Loan Documents to which it is a party, have been
duly authorized by all necessary action on its part; and the Loan Documents constitute the legal, valid and binding obligations of the Borrower and each Subsidiary, enforceable in accordance with
their terms, except to the extent that the enforceability thereof may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws generally
affecting creditors' rights and by equitable principles (regardless of whether enforcement is sought in equity or at law)." 

        2.6   Maintenance, Etc. Section 8.03(a) of the Credit Agreement shall be deleted in its entirety and the following shall
be substituted in place thereof: 

        "(a) Generally. The Borrower shall and shall cause each Subsidiary to: preserve and maintain its legal entity existence and
all of its material rights, privileges, franchises, patents, trademarks, copyrights and licenses; keep books of record and account in which full, true and correct entries will be made of all dealings
or transactions in relation to its business and activities; comply with all Governmental Requirements if failure to comply with such requirements will have a Material Adverse Effect; pay and discharge
all taxes, assessments and governmental charges or levies imposed on it or on its income or profits or on any of its Property prior to the date on which penalties attach thereto, except for any such
tax, assessment, charge or levy the payment of which is being contested in good faith and by proper proceedings and against which adequate reserves are being maintained; upon reasonable notice, permit
representatives of the Administrative Agent or any Lender, during normal business hours, to examine, copy and make extracts from its books and records, to inspect its Properties, and to discuss its
business and affairs with its officers, all to the extent reasonably requested by such Lender or the Administrative Agent (as the case may be)." 

3

 

        2.7   Debt. Section 9.01(i) of the Credit Agreement shall be deleted in its entirety and the following shall be
substituted in place thereof: 

        "(i)  Debt
of any Foreign Subsidiary of the Borrower or Holdings the proceeds of which Debt are used for such Foreign Subsidiary's and/or its Foreign Subsidiaries' working
capital and general business purposes ("Foreign Subsidiary Indebtedness")." 

        2.8   Subsidiaries. Section 9.17 of the Credit Agreement shall be deleted in its entirety and the following shall be
substituted in place thereof: 

        "Section 9.17
Subsidiaries. The Borrower shall not, and shall not permit any Subsidiary to, create any additional Subsidiaries
except for (a) Subsidiaries formed in connection with Operating Equipment Lease Facilities permitted hereunder, (b) Subsidiaries resulting from the WCG mergers or from future mergers or
acquisitions permitted hereunder, (c) new Subsidiaries created by the Borrower in compliance with Section 9.03; and (d) Subsidiaries created in connection with the reorganization
of Borrower or any Subsidiary. Upon the creation of any new Subsidiaries, the stock shall be pledged as
collateral for this Agreement (subject to the 65% limitation for first-tier Foreign Subsidiaries)." 

        3.     Conditions Precedent. In addition to all other applicable conditions precedent contained in the Credit Agreement, this
Third Amendment shall become effective as of the Effective Date when the Administrative Agent shall have received the following: 

        (a)   a
copy of this Third Amendment, duly completed and executed by the Borrower and the Lenders; 

        (b)   such
other information, documents or instruments as the Administrative Agent or its counsel may reasonably request. 

        4.     Default. Any default under this Third Amendment shall constitute a default under the Credit Agreement. 

        5.     Representations and Warranties. The Borrower represents and warrants to the Lenders and the Administrative Agent that: 

        (a)   there
exists no Default or Event of Default, or any condition or act which constitutes, or with notice or lapse of time or both would constitute, an Event of Default
under the Credit Agreement, as hereby amended and supplemented; 

        (b)   the
Borrower has performed and complied with all covenants, agreements and conditions contained in the Credit Agreement, as hereby amended and supplemented, required to
be performed or complied with by it; and 

        (c)   the
representations and warranties of the Borrower contained in the Credit Agreement, as hereby amended and supplemented, were true and correct when made, and are true
and correct in all material respects at and as of the time of delivery of this Third Amendment. 

        6.     Extent of Amendments. Except as expressly herein set forth, all of the terms, conditions, defined terms, covenants,
representations, warranties and all other provisions of the Credit Agreement are herein ratified and confirmed and shall remain in full force and effect. 

        7.     Counterparts. This Third Amendment may be executed in two or more counterparts, and it shall not be necessary that the
signatures of all parties hereto be contained on any one counterpart hereof; each counterpart shall be deemed an original, but all of which together shall constitute one and same instrument. 

        8.     References. On and after the Effective Date, the terms "Agreement", "hereof", "herein", "hereunder", and terms of like
import when used in the Credit Agreement shall, except where the 

4

 

context
otherwise requires, refer to the Credit Agreement, as amended and supplemented by this Third Amendment. 

        THIS THIRD AMENDMENT, THE CREDIT AGREEMENT, AS AMENDED HEREBY, THE NOTES AND THE OTHER LOAN DOCUMENTS REPRESENT THE FINAL AGREEMENT BETWEEN THE PARTIES AND MAY
NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES. 

        THERE ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN THE PARTIES. 

        This
Third Amendment shall benefit and bind the parties hereto, as well as their respective assigns, successors, heirs and legal representatives. 

[SIGNATURES
ON THE FOLLOWING PAGE] 

5

 

        EXECUTED
as of the Effective Date. 

	 	 	BORROWER:
	

 	
 	

UNIVERSAL COMPRESSION, INC.
	

 	
 	

By:	

/s/  LEE SUMRALL      

	 	 	Name:	Lee Sumrall

	 	 	Title:	V.P. Financial Services

	

 	
 	
LENDERS AND AGENTS:
	

 	
 	

WACHOVIA BANK, NATIONAL ASSOCIATION

(formerly known as First Union National Bank),

Individually and as Administrative Agent
	

 	
 	

By:	

/s/  JAMES KIPP      

	 	 	Name:	James Kipp

	 	 	Title:	Managing Director

	

 	
 	

BANK ONE, NA (Main Office Chicago),

Individually and as Syndication Agent
	

 	
 	

By:	

/s/  JANE BEK KEIL      

	 	 	Name:	Jane Bek Keil

	 	 	Title:	Director

	

 	
 	

THE ROYAL BANK OF SCOTLAND plc
	

 	
 	

By:	

/s/  MATTHEW J. MAIN      

	 	 	Name:	Matthew J. Main

	 	 	Title:	Senior Vice President

	

 	
 	

THE BANK OF NOVA SCOTIA
	

 	
 	

By:	

/s/  WILLIAM E. ZARRETT      

	 	 	Name:	William E. Zarrett

	 	 	Title:	Managing Director

6

 

	

 	
 	

DEUTSCHE BANK TRUST COMPANY AMERICAS
	

 	
 	

By:	

/s/  MARCUS M. TARKINGTON      

	 	 	Name:	Marcus M. Tarkington

	 	 	Title:	Director

	

 	
 	

UNION BANK OF CALIFORNIA, N.A.,

Individually and as Documentation Agent
	

 	
 	

By:	

/s/  SEAN MURPHY      

	 	 	Name:	Sean Murphy

	 	 	Title:	Vice President

7

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EXHIBIT 10.23

THIRD AMENDMENT AND SUPPLEMENT TO SENIOR SECURED REVOLVING CREDIT AGREEMENTQuickLinks
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EXHIBIT 10.30    
    

 
  STOCK OPTION AGREEMENT    
    

        THIS STOCK OPTION AGREEMENT, effective as of            (the Grant Date), by and between UNIVERSAL COMPRESSION HOLDINGS,
 INC., a Delaware corporation
("Holdings"), and                        (the "Employee"), who is an Employee of Universal Compression, Inc. ("Universal"), a
wholly-owned subsidiary of Holdings. 

        WHEREAS,
Holdings has agreed to grant to the Employee an option to purchase Holdings Common Stock, $.01 par value per share, (the "Common Stock") pursuant to the terms and conditions of
this Agreement in consideration for services to Universal; and 

        NOW,
THEREFORE, in consideration of the mutual covenants hereinafter set forth and for other good and valuable consideration, the sufficiency of which is hereby acknowledged, the parties
agree as follows: 

        1.    GRANT OF OPTION.    Holdings grants to the Employee an option (the "Option") to
purchase                        shares
of Common Stock at an Exercise Price per share equal to $             The Option shall expire on the tenth anniversary of the Grant Date,
unless
sooner terminated under the provisions hereof. This Option is granted under the Universal Compression Holdings, Inc. Incentive Stock Option Plan, as amended (the "Plan"), a copy of which is
attached hereto as Exhibit "A" and is incorporated herein by reference, and shall constitute an Incentive Stock Option under Section 422 of the Internal Revenue Code of 1986, as amended, (the
"Code") to the extent permissible under Section 422(d) of the Code, and otherwise shall be a Non-qualified Stock Option. All capitalized terms not otherwise defined in this
Agreement shall have the respective meaning of such terms as defined in the Plan. 

        2.    OPTION TERMS AND CONDITIONS.    

        (a)    Exercise of Option.    The Option shall become exercisable in accordance with the following
schedule:  

	Anniversary of Grant Date
 
	 	Aggregate Amount Exercisable

	 	 	  331/3%
	 	 	  662/3%
	 	 	100%

provided,
however, the Option shall become immediately exercisable upon (i) the acquisition by any Person (as defined in the Plan), of fifty-one percent (51%) or more of the Common
Stock of Holdings, or (ii) a sale of all or substantially all of the assets of Holdings. 

        (b)    Termination of Employment.    

        (i)    Termination due to Death, Disability or Retirement. In the event the Employee's employment with Universal terminates on
account of death, Disability (as defined in the Plan) or retirement after age 65, 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, Disability or retirement after age 65. 

        (ii)   Termination of Employment Without Cause. In the event Universal terminates Employee's employment without Cause (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 30 days following the date of such termination of employment. 

        (iii)  Termination of Employment for Cause or Voluntary Resignation. In the event the Employee's employment with Universal
shall terminate for Cause (as defined in the Plan), or the Employee voluntarily resigns his or her employment with Universal, the Option, whether or not 

exercisable
as of the date of termination of employment, shall terminate in its entirety on the date of termination. 

        3.    NON-TRANSFERABILITY.    No Option granted hereby and no right arising thereunder shall be
transferable other than by will or by the laws of descent and distribution. During the lifetime of the Employee, the Option shall be exercisable only by the Employee. If the Option is exercisable at
the date of the Employee's death and is transferred by will or by the laws of descent and distribution, the Option shall be exercisable in accordance with the terms of such Option by the executor or
administrator, as the case may be, of the Employee's estate for a period of three (3) months after the date of the Employee's death and shall then terminate. 

        4.    MODE OF EXERCISE.    The Option shall be exercised by giving to Holdings written notice stating (a) the
number of shares with respect to which the Option is being exercised, (b) the aggregate Exercise Price for such shares, and (c) the method of payment. At the option of the Employee, such
aggregate Exercise Price may be paid: (i) in cash; (ii) with the consent of the Board, which consent may be given or withheld in its sole discretion, by delivery of a promissory note to
Holdings payable over a three (3) year period and bearing interest at the prime rate; (iii) with the consent of the Administrator of the Plan, which consent may be given or withheld in
its sole discretion, by delivery of shares of Common Stock owned by the Employee having a Fair Market Value (as determined by Section 5 below) equal in amount to the aggregate Exercise Price of
the Option being exercised; (iv) by any combination of (i), (ii) and (iii); or (v) with the consent of the Administrator of the Plan, which consent may be given or withheld in its
sole discretion, by cancellation of a portion of the Option as determined by the Administrator of the Plan. 

        5.    FAIR MARKET VALUE OF COMMON STOCK.    The "Fair Market Value" of the Common Stock on any day shall be determined
by the Board as follows: (i) if the Common Stock is listed on a national securities exchange or quoted through the NASDAQ National Market System, the Fair Market Value on any day shall be the
average of the high and low reported Consolidated Trading sales prices, or if no such sale is made on such day, the average of the closing bid and asked prices reported on the Consolidated Trading
listing for such day; (ii) if the Common Stock is quoted on the NASDAQ inter-dealer quotation system, the Fair Market Value on any day shall be the average of the representative bid and asked
prices at the close of business for such day; (iii) if the Common Stock is not listed on a national stock exchange or quoted on NASDAQ, the Fair Market Value on any day shall be the average of
the high bid and low asked prices reported by the National Quotation Bureau, Inc. for such day; or (iv) if none of clauses (i)-(iii) are applicable, the Fair Market Value as may
be determined by the Board or the Administrator of the Plan, there being no obligation to make such determination. 

        6.    OPTION SUBJECT TO SECURITIES AND OTHER REGULATIONS.    The Option granted hereunder and the obligation of
Holdings to sell and deliver shares under such Option shall be subject to all applicable federal and state laws, rules and regulations and to such approvals by any government or regulatory agency as
may be required. Holdings, in its discretion, may postpone the issuance or delivery of shares upon any exercise of the Option until completion of any stock exchange listing, or other qualification of
such shares under any state or federal law, rule or regulation as Holdings may consider appropriate, and may require the Employee, his or her beneficiary or his or her legal representative to make
such representations and furnish such information as it may consider appropriate in connection with the issuance or delivery of the shares in compliance with applicable laws, rules and regulations. 

        Upon
demand by the Board, the Employee (or any person acting under Section 3 above) shall deliver to the Board at the time of exercise of the Option a written representation that
the shares to be acquired upon the exercise of the Option are being acquired for his or her own account and not with a view to, or for resale in connection with, any distribution in violation of
federal or state securities laws. Upon such demand, delivery of such representation prior to the delivery of any shares issued upon exercise of the Option shall be a condition precedent to the right
of the Employee or such other person to purchase any shares. 

        7.    NO RIGHTS AS STOCKHOLDER PRIOR TO EXERCISE OF OPTION.    The Participant shall not have any rights as a
stockholder with respect to any shares subject to the Option prior to the date on which the Employee is recorded as the holder of such shares on the records of Holdings. 

        8.    NO RIGHTS WITH RESPECT TO CONTINUANCE OF EMPLOYMENT.    Neither the grant of the Option nor any action taken
with respect thereto shall be construed as giving the Employee the right to be retained in the employ of Universal or any subsidiary or affiliate, nor shall it interfere in any way with the right of
Universal or any such subsidiary or affiliate to terminate any Employee's employment at any time for any reason, or for no reason at all. 

        9.    TAXES.    Holdings may make such provisions and take such steps as it may deem necessary or appropriate for the
withholding of all Federal, state, local and other taxes required by law to be withheld with respect to the Option including, but not limited to: (i) reducing the number of shares of Common
Stock otherwise deliverable, based upon their Fair Market Value on the date of exercise, to permit deduction of the amount of any such withholding taxes from the amount otherwise payable under this
Agreement; (ii) deducting the amount of any such withholding taxes from any other amount then or thereafter payable to the Employee; or (iii) requiring the Employee, his or her
beneficiary or his or her legal representative to pay to Holdings the amount required to be withheld or to execute such documents as Holdings deems necessary or desirable to enable it to satisfy its
withholding obligations as a condition of releasing the Common Stock. 

        10.    GOVERNING LAW.    This Agreement shall be governed and construed in accordance with the laws of the State of
Delaware applicable to contract made and to be performed entirely within such state. 

        11.    COUNTERPARTS.    This Agreement may be executed in two or more counterparts, each of which shall be deemed an
original, but all of which shall constitute one and the same instrument, and it shall not be necessary in making proof of this Agreement to produce or account for more than one such counterpart. 

        12.    NOTICES.    Any notice or other communication required or which may be given hereunder shall be in writing and
shall be delivered personally, telecopied with confirmed receipt, sent by certified, registered, or express mail, postage prepaid, or sent by a national next-day delivery service to the
parties at the following addresses or at such other addresses as shall be specified by the parties by like notice, and shall be deemed given when so delivered personally or telecopied, or if mailed,
2 days after 

the
date of mailing, or, if by national next-day delivery service, on the day after delivery to such service as follows: 

	

 	
 	

(i)	
 	

if to Holdings, at:
	

 	
 	

 	
 	

Universal Compression Holdings, Inc.

4444 Brittmoore Road

Houston, Texas 77041-8004

Attention:

Telecopier Number: 713-466-6720
	

 	
 	

 	
 	

with a copy to:
	

 	
 	

 	
 	

Universal Compression, Inc.

4444 Brittmoore Road

Houston, Texas 77041-8004

Attention:

Telecopier Number: 713-466-6720
	

 	
 	

(ii)	
 	

if to Employee, to him or her at:
	

 	
 	

 	
 	

Universal Compression, Inc.

4444 Brittmoore Road

Houston, Texas 77041-8004

        13.    HEADINGS.    The headings in this Agreement are for convenience of reference only and shall not in any manner
define or limit the scope or intent of any provisions of this Agreement. 

        14.    SEVERABILITY.    If any term, provision, covenant or restriction of this Agreement, or any part thereof, is
held by a court of competent jurisdiction or any foreign federal, state, county or local government or any other governmental, regulatory or administrative agency or authority to be invalid, void,
unenforceable or against public policy for any reason, the remainder of the terms, provisions, covenants and restrictions of this Agreement shall remain in full force and effect and shall in no way be
affected, impaired or invalidated. 

        IN
WITNESS WHEREOF, the parties hereto, intending to be legally bound hereby, have executed this Agreement effective as of the Grant Date above mentioned. 

	

 	
 	
EMPLOYEE
	

 	
 	

Employee Signature
 
	

 	
 	

Print Employee Name
	

 	
 	

Employee Social Security Number
	

 	
 	
UNIVERSAL COMPRESSION HOLDINGS, INC.
	

 	
 	

 Stephen A. Snider

President and Chief Executive Officer
	

 	
 	

 «DP»

President, «DIV» Division

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EXHIBIT 10.30

STOCK OPTION AGREEMENT

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