Document:

<PAGE>

                                                                EXHIBIT 4(f)(92)

                                                               EXECUTION VERSION

                             INTERCREDITOR AGREEMENT

     This Intercreditor Agreement (this "Agreement"), dated April 12, 2007, is
among Credit Acceptance Corporation ("CAC"), CAC Warehouse Funding Corporation
II ("Warehouse Funding"), Credit Acceptance Funding LLC 2006-1 ("Funding
2006-1"), Credit Acceptance Auto Dealer Loan Trust 2006-1 (the "2006-1 Trust"),
Credit Acceptance Funding LLC 2006-2 ("Funding 2006-2"), Credit Acceptance Auto
Dealer Loan Trust 2006-2 (the "2006-2 Trust"), Credit Acceptance Funding LLC
2007-1 ("Funding 2007-1"), Credit Acceptance Auto Dealer Loan Trust 2007-1 (the
"2007-1 Trust"), Wachovia Capital Markets, LLC, as deal agent and collateral
agent under the Wachovia Securitization Documents ("Wachovia"), The Bank of New
York (as successor-in-interest to the corporate trust business of JPMorgan Chase
Bank, N.A.), as indenture trustee and trust collateral agent under the 2006-1
Securitization Documents (in either such capacity, the "2006-1 Trustee", as the
context requires), Deutsche Bank Trust Company Americas, as indenture trustee
and trust collateral agent under the 2006-2 Securitization Documents (in either
such capacity, the "2006-2 Trustee", as the context requires), Wells Fargo Bank,
National Association, as indenture trustee and trust collateral agent under the
2007-1 Securitization Documents (in either such capacity, the "2007-1 Trustee",
as the context requires), Comerica Bank, as agent under the CAC Credit Facility
Documents ("Comerica"), and each other creditor who becomes a party hereto after
the date hereof.

     Capitalized terms used but not otherwise defined herein shall have the
meaning set forth in Appendix A attached hereto and made part of this Agreement.

                                   BACKGROUND

     A. Pursuant to the terms of the various Dealer Agreements between CAC and
the Dealers, Collections from a particular Pool are first used to pay certain
collection costs, CAC's servicing fee and to pay back the Pool's Advance
balance. After the Advance balance under such Pool has been reduced to zero, the
Dealer to whom the Pool relates has a contractual right under the related Dealer
Agreement to receive a portion of any further Collections with respect to the
Pool (such portion of further Collections otherwise payable to the Dealer is
referred to herein as "Back-end Dealer Payments"), subject to CAC's right of
offset as described in paragraph H below.

     B. CAC has granted a security interest in CAC's rights with respect to its
Pools (to the extent not released) and related assets generally under the CAC
Credit Facility Documents to Comerica, as collateral agent for the banks which
are parties thereto.

     C. CAC, Wachovia and certain other parties entered into a transaction as
set forth in the Wachovia Securitization Documents (the "Wachovia
Securitization") pursuant to which the security interest with respect to certain
specifically identified Pools and related assets was (and during the revolving
period under the Wachovia Securitization Documents will be) released by
Comerica, CAC contributed (and will contribute) such Pools and related assets to
its wholly-owned subsidiary, Warehouse Funding, and Warehouse Funding granted
Wachovia, in its capacity as collateral agent, a security interest in Warehouse
Funding's rights to such Pools and related assets (such Pools and related assets
are referred to herein as the "Wachovia Pools").

                                        1

<PAGE>

     D. CAC and the 2006-1 Trustee entered into a transaction as set forth in
the 2006-1 Securitization Documents (the "2006-1 Securitization") pursuant to
which the security interest with respect to certain specifically identified
Pools and related assets was released by Comerica, CAC sold and contributed such
Pools and related assets to its wholly-owned subsidiary, Funding 2006-1, which
subsequently sold such Pools and related assets to the 2006-1 Trust, a trust the
depositor of which is Funding 2006-1, and the 2006-1 Trust granted the 2006-1
Trustee a security interest in its right, title and interest in and to such
Pools and related assets (such Pools and related assets are referred to herein
as the "2006-1 Pools").

     E. CAC and the 2006-2 Trustee entered into a transaction as set forth in
the 2006-2 Securitization Documents (the "2006-2 Securitization") pursuant to
which the security interest with respect to certain specifically identified
Pools and related assets was (and during the revolving period under the 2006-2
Securitization Documents will be) released by Comerica, CAC sold and contributed
(and will be selling and contributing) such Pools and related assets to its
wholly-owned subsidiary, Funding 2006-2, which subsequently sold (and will sell)
such Pools and related assets to the 2006-2 Trust, a trust the depositor of
which is Funding 2006-2, and the 2006-2 Trust granted the 2006-2 Trustee a
security interest in its right, title and interest in and to such Pools and
related assets (such Pools and related assets are referred to herein as the
"2006-2 Pools").

     F. CAC and the 2007-1 Trustee are entering into a transaction as set forth
in the 2007-1 Securitization Documents (the "2007-1 Securitization") pursuant to
which the security interest with respect to certain specifically identified
Pools and related assets is being (and during the revolving period under the
2007-1 Securitization Documents will be) released by Comerica, CAC is (and will
be) selling and contributing such Pools and related assets to its wholly-owned
subsidiary, Funding 2007-1, which is subsequently selling (and will sell) such
Pools and related assets to the 2007-1 Trust, a trust the depositor of which is
Funding 2007-1, and the 2007-1 Trust is granting the 2007-1 Trustee a security
interest in its right, title and interest in and to such Pools and related
assets (such Pools and related assets are referred to herein as the "2007-1
Pools").

     G. Comerica retains a security interest in Pools and related assets which
(i) have not been (and will not be) released, and a security interest
encumbering such Pools and related assets has not been (and will not be) granted
to Wachovia pursuant to the Wachovia Securitization, (ii) have not been
released, and a security interest encumbering such Pools and related assets has
not been granted to the 2006-1 Trustee, pursuant to the 2006-1 Securitization,
(iii) have not been (and will not be) released, and a security interest
encumbering such Pools and related assets has not (and will not) be granted to
the 2006-2 Trustee, pursuant to the 2006-2 Securitization, and (iv) are not
being (and will not be) released, and a security interest encumbering such Pools
and related assets is not being granted to the 2007-1 Trustee, pursuant to the
2007-1 Securitization (such unreleased Pools and related assets are referred to
herein as the "Comerica Pools").

     H. The Dealer Agreements permit CAC and its assignees, under certain
circumstances, to set off any Collections received with respect to any Pool of a
Dealer against Advances under other Pools of that Dealer and such set off rights
are authorized and permitted under the CAC Credit Facility Documents, the
Wachovia Securitization Documents, the 2006-1 Securitization Documents, the
2006-2 Securitization Documents and the 2007-1 Securitization Documents.

                                        2

<PAGE>

     I. The parties hereto acknowledge that the rights of CAC or its assigns,
pursuant to the Dealer Agreements, to set off Collections received with respect
to a Pool against the outstanding balance under any other Pool are not intended,
and should not be permitted, to be used to prejudice the collateral position of
any of the parties hereto, and therefore the exercise of such rights should be
limited to Back-end Dealer Payments.

     In consideration of the mutual premises and promises set forth herein and
other good and valuable consideration, the receipt and sufficiency of which is
hereby acknowledged, the parties agree as follows:

                                   AGREEMENTS

     1. Confirmation. Notwithstanding any statement or provision contained in
the Financing Documents or otherwise to the contrary, and irrespective of the
time, order or method of attachment or perfection of security interests granted
pursuant to the Financing Documents, respectively, or the time or order of
filing or recording of any financing statements, or other notices of security
interests, liens or other interests granted pursuant to the Financing Documents,
respectively, or the giving of or failure to give notice of the acquisition or
expected acquisition of purchase money or other security interests, and
irrespective of anything contained in any filing or agreement to which any
Creditor may now or hereafter be a party and irrespective of the ordinary rules
for determining priority under the Uniform Commercial Code or under any other
law governing the relative priorities of secured creditors, subject, however, to
the terms and conditions of this Agreement:

     (a) RELEASE BY WACHOVIA. Wachovia, as the collateral agent, (i) releases
any and all rights in and to any Collections with respect to the Comerica Pools,
the 2006-1 Pools, the 2006-2 Pools, the 2007-1 Pools or in any Back-end Dealer
Payments; provided, that no release shall have been granted with respect to
amounts collected under any Pools which are Back-end Dealer Payments that have
been set off by CAC or by Comerica pursuant to the CAC Credit Facility Documents
against amounts owing under the Wachovia Pools and (ii) relinquishes all rights
it has or may have to require CAC, individually or as servicer, any successor
servicer or Warehouse Funding to use Collections on its behalf contrary to
clause (a)(i). Wachovia, as collateral agent, agrees that the lien and security
interest granted to it pursuant to the Wachovia Securitization Documents does
not and shall not attach to any Comerica Pools, the 2006-1 Pools, the 2006-2
Pools or the 2007-1 Pools (or related Collections) or to any Back-end Dealer
Payments and shall not assert any claim thereto.

     (b) RELEASE BY THE 2006-1 TRUSTEE. The 2006-1 Trustee (i) releases any and
all rights in and to any Collections with respect to the Comerica Pools, the
Wachovia Pools, the 2006-2 Pools, the 2007-1 Pools or in any Back-end Dealer
Payments; provided, that no release shall have been granted with respect to
amounts collected under any Pools which are Back-end Dealer Payments that have
been set off by CAC or by Comerica pursuant to the CAC Credit Facility Documents
against amounts owing under the 2006-1 Pools and (ii) relinquishes all rights it
has or may have to require CAC, individually or as servicer, any successor
servicer, Funding 2006-1 or the 2006-1 Trust to use Collections on its behalf
contrary to clause (b)(i). The 2006-1 Trust agrees that the lien and security
interest granted to the 2006-1 Trustee pursuant to the 2006-1 Securitization
Documents to which it is a party does not and shall not attach to any Comerica

                                        3

<PAGE>

Pools, the Wachovia Pools, the 2006-2 Pools or the 2007-1 Pools (or related
Collections) or to any Back-end Dealer Payments and shall not assert any claim
thereto.

     (c) RELEASE BY THE 2006-2 TRUSTEE. The 2006-2 Trustee (i) releases any and
all rights in and to any Collections with respect to the Comerica Pools, the
Wachovia Pools, the 2006-1 Pools, the 2007-1 Pools, or in any Back-end Dealer
Payments; provided, that no release shall have been granted with respect to
amounts collected under any Pools which are Back-end Dealer Payments that have
been set off by CAC or by Comerica pursuant to the CAC Credit Facility Documents
against amounts owing under the 2006-2 Pools and (ii) relinquishes all rights it
has or may have to require CAC, individually or as servicer, any successor
servicer, Funding 2006-2 or the 2006-2 Trust to use Collections on its behalf
contrary to clause (c)(i). The 2006-2 Trust agrees that the lien and security
interest granted to the 2006-2 Trustee pursuant to the 2006-2 Securitization
Documents to which it is a party does not and shall not attach to any Comerica
Pools, the Wachovia Pools, the 2006-1 Pools or the 2007-1 Pools (or related
Collections) or to any Back-end Dealer Payments and shall not assert any claim
thereto.

     (d) RELEASE BY THE 2007-1 TRUSTEE. The 2007-1 Trustee (i) releases any and
all rights in and to any Collections with respect to the Comerica Pools, the
Wachovia Pools, the 2006-1 Pools, the 2006-2 Pools or in any Back-end Dealer
Payments; provided, that no release shall have been granted with respect to
amounts collected under any Pools which are Back-end Dealer Payments that have
been set off by CAC or by Comerica pursuant to the CAC Credit Facility Documents
against amounts owing under the 2007-1 Pools and (ii) relinquishes all rights it
has or may have to require CAC, individually or as servicer, any successor
servicer, Funding 2007-1 or the 2007-1 Trust to use Collections on its behalf
contrary to clause (d)(i). The 2007-1 Trust agrees that the lien and security
interest granted to the 2007-1 Trustee pursuant to the 2007-1 Securitization
Documents to which it is a party does not and shall not attach to any Comerica
Pools, the Wachovia Pools, the 2006-1 Pools or the 2006-2 Pools (or related
Collections) or to any Back-end Dealer Payments and shall not assert any claim
thereto.

     (e) RELEASE BY COMERICA. Comerica (i) releases any and all rights in and to
any Collections with respect to the Wachovia Pools, the 2006-1 Pools, the 2006-2
Pools and the 2007-1 Pools, other than amounts collected under the Wachovia
Pools, the 2006-1 Pools, the 2006-2 Pools or the 2007-1 Pools which are owed to
Dealers as Back-end Dealer Payments and which are subject to set off by CAC
pursuant to the related Dealer Agreement and which have not been set off by CAC
or by Comerica pursuant to the CAC Credit Facility Documents against amounts
owing under the Wachovia Pools, the 2006-1 Pools, the 2006-2 Pools or the 2007-1
Pools and (ii) relinquishes all rights it has or may have to require CAC,
individually or as servicer, or any successor servicer to use Collections on its
behalf contrary to clause (e)(i) above. Except for Back-end Dealer Payments to
the extent provided in clause (e)(i) above, Comerica agrees that the lien and
security interest granted to it pursuant to the CAC Credit Facility Documents
does not and shall not attach to any Wachovia Pools, the 2006-1 Pools, the
2006-2 Pools or the 2007-1 Pools and shall not assert any claim against the
Wachovia Pools, the 2006-1 Pools, the 2006-2 Pools or the 2007-1 Pools or
Collections related thereto.

                                        4

<PAGE>

     2. Covenant of the CAC Entities.

     (a) Each of the CAC Entities covenants that it shall not use any right it
may have under the Dealer Agreements, whether at the direction of Comerica,
Wachovia, the 2006-1 Trustee, the 2006-2 Trustee or the 2007-1 Trustee or
otherwise, to set off any Collections, other than amounts which are owed to
Dealers as Back-end Dealer Payments, from one Pool against amounts owed under
another Pool encumbered in favor of another Creditor.

     (b) Each of the CAC Entities covenants that it will require any other
person or entity which hereafter acquires any security interest in the Pools,
Dealer Agreements and related assets from a CAC Entity to become parties to this
Agreement by executing an amendment or acknowledgment, in form and substance
reasonably satisfactory to CAC and the Creditors, by which such persons or
entities agree to be bound by the terms of this Agreement, and delivering such
signed amendment or acknowledgement hereof to each of the CAC Entities and the
Creditors; provided, however, that in the event the amount owed by the CAC
Entities to any Creditor shall be reduced to zero and such Creditor shall have
no obligation or agreement to make any further advances to any CAC Entity, such
Creditor shall have no rights under this Section 2(b).

     3. Turnover of Proceeds. The parties hereto agree that if, at any time, a
Creditor (a "Receiving Creditor") (x) receives any payment, distribution,
security or the proceeds thereof to which another Creditor or Creditors shall,
under the terms of Section 1 of this Agreement, be entitled and (y) the
Receiving Creditor either (A) had actual knowledge, at the time of such receipt,
that such payment, distribution or proceeds were wrongfully received by it or
(B) another Creditor or Creditors shall have given written notice to the
Receiving Creditor, prior to such receipt, of its good faith belief that such
payments, distributions or proceeds are being misapplied, and such notice
contains evidence reasonably satisfactory to the Receiving Creditor of such
misapplication, then such Receiving Creditor shall receive and hold the same
separately and in trust for the benefit of, and shall forthwith pay over and
deliver the same to the relevant Creditor. For purposes of the foregoing, (i)
the actual knowledge of the 2006-1 Trustee shall be determined based on the
actual knowledge of the 2006-1 Trustee's Responsible Officers (as defined in the
2006-1 Indenture), (ii) the actual knowledge of the 2006-2 Trustee shall be
determined based on the actual knowledge of the 2006-2 Trustee's Responsible
Officers (as defined in the 2006-2 Indenture) and (iii) the actual knowledge of
the 2007-1 Trustee shall be determined based on the actual knowledge of the
2007-1 Trustee's Responsible Officers (as determined in the 2007-1 Indenture),
it being understood that each such Responsible Officer shall have no duty to
make any inquiry regarding the propriety of any payment, distribution or
proceeds.

     4. Further Assurances. Each Creditor and CAC Entity agrees that it shall be
bound by all of the provisions of this Agreement. Without limiting any other
provision hereof, each of the Creditors and CAC Entities agrees that it will
promptly execute such instruments, notices or other documents as may be
reasonably requested in writing by any party hereto for the purpose of
confirming the provisions of this Agreement or better effectuating the intent
hereof. CAC will reimburse each Creditor for all reasonable expenses incurred by
such Creditor pursuant to this Section 4.

                                        5

<PAGE>

     5. Governing Law. This Agreement shall be governed by and construed in
accordance with the internal laws of the State of New York without regard to its
conflicts of laws rules. Each of the parties hereto agrees to the non-exclusive
jurisdiction of any federal court located within the State of New York. Each of
the parties hereto hereby waives any objection based on forum non conveniens and
any objection to venue of any action instituted hereunder in any of the
aforementioned courts, and consents to the granting of such legal or equitable
relief as is deemed appropriate by such court.

     6. Counterparts. This Agreement may be executed in two or more counterparts
including facsimile transmission thereof (and by different parties on separate
counterparts), each of which shall be an original, but all of which together
shall constitute one of the same instrument.

     7. Severability. If any one or more of the covenants, agreements,
provisions or terms of this Agreement shall for any reason whatsoever be held
invalid, then such covenants, agreements, provisions, or terms shall be deemed
severable from the remaining covenants, agreements, provisions or terms of this
Agreement and shall in no way affect the validity or enforceability of the other
provisions of this Agreement.

     8. No Proceedings. Each of the parties hereto hereby agrees that it will
not institute against, or join any other person in instituting against Warehouse
Funding, Funding 2006-1, the 2006-1 Trust, Funding 2006-2, the 2006-2 Trust,
Funding 2007-1 or the 2007-1 Trust, any bankruptcy, reorganization, arrangement,
insolvency or liquidation proceedings, or other proceedings under any federal or
state bankruptcy or similar law so long as there shall not have elapsed one year
and one day after there are no remaining amounts owed to any of the Creditors by
any of the CAC Entities pursuant to the Wachovia Securitization Documents, the
2006-1 Securitization Documents, the 2006-2 Securitization Documents and the
2007-1 Securitization Documents.

     9. Amendment. This Agreement and the rights and obligations of the parties
hereunder may not be changed orally, but only by an instrument in writing
executed by all of the parties hereto; provided further that if the amount owed
by the CAC Entities to any Creditor shall be reduced to zero and such Creditor
shall have no obligation or agreement to make any further advances to any CAC
Entity, this Agreement may be amended by the other parties hereto without the
consent of such Creditor.

     10. No Third Party Beneficiaries. This Agreement is not intended to confer
upon any person other than the parties hereto any rights or remedies hereunder.

     11. Successors and Assigns. This Agreement shall be binding upon and inure
to the benefit of each of the parties hereto and their respective successors and
assigns, including any successor or assignor to the 2006-1 Trustee under the
2006-1 Securitization Documents, any successor or assignor to the 2006-2 Trustee
under the 2006-2 Securitization Documents and any successor or assignor to the
2007-1 Trustee under the 2007-1 Securitization Documents.

     12. Notices. Except as otherwise provided herein, all notices or demand
hereunder to the parties hereto shall be sufficient if made in writing, and
either: (i) sent via certified or

                                        6

<PAGE>

registered mail (or the equivalent thereof), postage prepaid, (ii) delivered by
messenger or overnight courier, or (iii) transmitted via facsimile with a
confirmation of the receipt thereof. Notice shall be deemed to be given for
purposes of this Agreement on the day of receipt. Unless otherwise specified in
a notice sent or delivered in accordance with the foregoing provisions of this
Section, notices, demands and other communications in writing shall be given to
or made upon the respective parties hereto: (a) in the case of any of the CAC
Entities, to Silver Triangle Building, 25505 West Twelve Mile Road, Southfield,
Michigan 48034-8339, Attention: Wendy Rummler, telephone: (248) 353-2700 (ext.
4217), facsimile: (866) 249-3138; (b) in the case of Wachovia, to One Wachovia
Center, 301 South College Street, Charlotte, North Carolina 28288-0610,
Attention: Conduit Administration, telephone: (704) 383-9343, facsimile: (704)
383-9579; (c) in the case of the 2006-1 Trustee, to 101 Barclay Street, FI 4E,
New York, NY 10286, telephone: (212) 815-5331, facsimile: (212) 815-8091; (d) in
the case of the 2006-2 Trustee, to 60 Wall Street, MS NYC 60-2606, New York, NY
10005, Attention: Lou Bodi, telephone: (212) 250-4855, facsimile: (212)
553-2459; (e) in the case of the 2007-1 Trustee, to MAC #9311-161, Sixth and
Marquette Avenue, Minneapolis, Minnesota 55479 Attention: Corporate Trust
Services - Asset-Backed Administration, telephone: (612) 667-8058, facsimile:
(612) 667-3464; and (f) in the case of Comerica, to One Detroit Center, 6th
Floor, 500 Woodward Avenue, Detroit, Michigan 48226, Attention: Harve Light,
telephone: (313) 222-0236, facsimile: (313) 222-5636.

     13. Termination. Each party's rights and obligations under this agreement
shall terminate at the time all amounts due to or owed by such party have been
paid in full and such party's applicable Financing Documents have been
terminated so long as each party whose rights and obligations are subject to
termination pursuant to this Section 13 (i) has no actual knowledge or written
notice of payments, distributions, security or the proceeds thereof to which
another Creditor or Creditors is entitled, as provided in Section 3 hereof, and
(ii) has not received a written notice from Comerica under the CAC Credit
Facility Documents that there is a "Default" or an "Event of Default" (as such
terms are defined therein) at the time of the termination of the applicable
Financing Documents.

     14. Integration; Termination of Prior Agreement. This Agreement sets forth
the entire understanding of the parties relating to the subject matter hereof,
and all prior understandings, written or oral, are superseded by this Agreement.
Without limiting the generality of the foregoing, this Agreement is intended to
supersede the Prior Agreement in its entirety. Each of Comerica, Wachovia, the
2006-1 Trustee, the 2006-2 Trustee and the CAC Entities that were parties to the
Prior Agreement further acknowledge and agree that, as among themselves, this
Agreement supersedes the Prior Agreement with respect to their rights as against
each other and that this Agreement shall govern their rights against each other
and the other parties hereto.

                            [signature page follows]

                                        7

<PAGE>

     This Intercreditor Agreement has been executed and delivered by the parties
hereto on April 12, 2007.

                                        CREDIT ACCEPTANCE CORPORATION

                                        /S/ DOUGLAS W. BUSK
                                        ----------------------------------------
                                        BY: DOUGLAS W. BUSK
                                        TITLE: TREASURER

                                        CAC WAREHOUSE FUNDING CORPORATION II

                                        /S/ DOUGLAS W. BUSK
                                        ----------------------------------------
                                        BY: DOUGLAS W. BUSK
                                        TITLE: VP - FINANCE AND TREASURER

                                        CREDIT ACCEPTANCE FUNDING LLC 2006-1

                                        /S/ DOUGLAS W. BUSK
                                        ----------------------------------------
                                        BY: DOUGLAS W. BUSK
                                        TITLE: TREASURER

                                        CREDIT ACCEPTANCE FUNDING LLC 2006-2

                                        /S/ DOUGLAS W. BUSK
                                        ----------------------------------------
                                        BY: DOUGLAS W. BUSK
                                        TITLE: TREASURER

                                        CREDIT ACCEPTANCE FUNDING LLC 2007-1

                                        /S/ DOUGLAS W. BUSK
                                        ----------------------------------------
                                        BY: DOUGLAS W. BUSK
                                        TITLE: TREASURER

                   [Signature Page to Intercreditor Agreement]

<PAGE>

                                        WACHOVIA CAPITAL MARKETS, LLC,
                                        AS DEAL AGENT

                                        /S/ CHAD KOBOS
                                        ----------------------------------------
                                        BY: CHAD KOBOS
                                        TITLE: DIRECTOR

                   [Signature Page to Intercreditor Agreement]

<PAGE>

                                        COMERICA BANK, AS AGENT

                                        /S/ HARVE C. LIGHT
                                        ----------------------------------------
                                        BY: HARVE C. LIGHT
                                        TITLE: VICE PRESIDENT

                   [Signature Page to Intercreditor Agreement]

<PAGE>

                                        THE BANK OF NEW YORK (AS
                                        SUCCESSOR-IN-INTEREST TO THE CORPORATE
                                        TRUST BUSINESS OF JPMORGAN CHASE BANK,
                                        N.A.), NOT IN ITS INDIVIDUAL CAPACITY
                                        BUT SOLELY AS TRUSTEE

                                        /S/ ESTHER ANTOINE
                                        ----------------------------------------
                                        BY: ESTHER ANTOINE
                                        TITLE: TRUST OFFICER

                   [Signature Page to Intercreditor Agreement]

<PAGE>

                                        CREDIT ACCEPTANCE AUTO DEALER LOAN TRUST
                                        2006-1

                                        BY: U.S. BANK TRUST NATIONAL
                                            ASSOCIATION, NOT IN ITS INDIVIDUAL
                                            CAPACITY BUT SOLELY AS OWNER TRUSTEE

                                        /S/ NICOLE POOLE
                                        ----------------------------------------
                                        BY: NICOLE POOLE
                                        TITLE: VICE PRESIDENT

                                        CREDIT ACCEPTANCE AUTO DEALER LOAN TRUST
                                        2006-2

                                        BY: U.S. BANK TRUST NATIONAL
                                            ASSOCIATION, NOT IN ITS INDIVIDUAL
                                            CAPACITY BUT SOLELY AS OWNER TRUSTEE

                                        /S/ NICOLE POOLE
                                        ----------------------------------------
                                        BY: NICOLE POOLE
                                        TITLE: VICE PRESIDENT

                                        CREDIT ACCEPTANCE AUTO DEALER LOAN TRUST
                                        2007-1

                                        BY: U.S. BANK TRUST NATIONAL
                                            ASSOCIATION, NOT IN ITS INDIVIDUAL
                                            CAPACITY BUT SOLELY AS OWNER TRUSTEE

                                        /S/ NICOLE POOLE
                                        ----------------------------------------
                                        BY: NICOLE POOLE
                                        TITLE: VICE PRESIDENT

                   [Signature Page to Intercreditor Agreement]

<PAGE>

                                        DEUTSCHE BANK TRUST COMPANY AMERICAS,
                                        NOT IN ITS INDIVIDUAL CAPACITY BUT
                                        SOLELY AS TRUSTEE

                                        /S/ LOUIS BODI
                                        ----------------------------------------
                                        BY: LOUIS BODI
                                        TITLE: VICE PRESIDENT

                                        /S/ JENNA KAUFMANN
                                        ----------------------------------------
                                        BY: JENNA KAUFMAN
                                        TITLE: DIRECTOR

                   [Signature Page to Intercreditor Agreement]

<PAGE>

                                        WELLS FARGO BANK, NATIONAL ASSOCIATION,
                                        NOT IN ITS INDIVIDUAL CAPACITY BUT
                                        SOLELY AS TRUSTEE

                                        /S/ MARIANNA STERSHIC
                                        ----------------------------------------
                                        BY: MARIANNA STERSHIC
                                        TITLE: VICE PRESIDENT

                   [Signature Page to Intercreditor Agreement]

<PAGE>

                                   APPENDIX A

                                   DEFINITIONS

     2006-1 Indenture: The Indenture dated as of April 18, 2006 between the
2006-1 Trustee and the 2006-1 Trust, as amended from time to time.

     2006-1 Securitization Documents: The Sale and Servicing Agreement dated as
of April 18, 2006 among the 2006-1 Trust, Funding 2006-1, CAC, the 2006-1
Trustee, and Systems & Services Technologies, Inc., the 2006-1 Indenture, and
the documents related thereto, as amended from time to time.

     2006-2 Indenture: The Indenture dated as of November 21, 2006 between the
2006-2 Trustee and the 2006-2 Trust, as amended from time to time.

     2006-2 Securitization Documents: The Sale and Servicing Agreement dated as
of November 21, 2006 among the 2006-2 Trust, Funding 2006-2, CAC, the 2006-2
Trustee, and Systems & Services Technologies, Inc., the 2006-2 Indenture, and
the documents related thereto, as amended from time to time.

     2007-1 Indenture: The Indenture dated as of April 12, 2007 between the
2007-1 Trustee and the 2007-1 Trust, as amended from time to time.

     2007-1 Securitization Documents: The Sale and Servicing Agreement dated as
of April 12, 2007, among the 2007-1 Trust, Funding 2007-1, CAC, the 2007-1
Trustee, and Wells Fargo Bank, National Association, as the Backup Servicer, the
2007-1 Indenture, and the documents related thereto, as amended from time to
time.

     Advance: Amounts advanced to a Dealer upon the acceptance of a Contract by
CAC pursuant to a Dealer Agreement.

     CAC Credit Facility Documents: The Fourth Amended and Restated Credit
Acceptance Corporation Credit Agreement, dated as of February 7, 2006, by and
among the Banks signatory thereto, Comerica and CAC, and the documents related
thereto, as amended from time to time.

     CAC Entities: Each of CAC, Warehouse Funding, Funding 2006-1, the 2006-1
Trust, Funding 2006-2, the 2006-2 Trust, Funding 2007-1 and the 2007-1 Trust.

     Collections: All money, amounts or other payments received or collected by
CAC, individually or as servicer, or any successor servicer or any other CAC
Entity with respect to a Contract in the form of cash, checks, wire transfers or
other form of payment in accordance with the Contracts or the Dealer Agreements,
including, without limitation, with respect to a Pool amounts collected under
any other Pool which are Back-end Dealer Payments that have been set off by CAC
or by Comerica pursuant to the CAC Credit Facility Documents, against amounts
owing under such Pool.

     Contract: A retail installment contract for the sale of used motor vehicles
assigned outright by Dealers to CAC or a subsidiary of CAC or written by Dealers
in the name of CAC or

                                        i

<PAGE>

a subsidiary of CAC (and funded by CAC or such subsidiary) or assigned by
Dealers to CAC or a subsidiary of CAC, as nominee for the Dealer, for
administration, servicing, and collection, in each case pursuant to an
applicable Dealer Agreement.

     Creditor: Each of Comerica, Wachovia, the 2006-1 Trustee, the 2006-2
Trustee and the 2007-1 Trustee.

     Dealer: A person engaged in the business of the retail sale or lease of new
or used motor vehicles, including both businesses exclusively selling used motor
vehicles and businesses principally selling new motor vehicles, but having a
used vehicle department, including any such person which constitutes an
affiliate of CAC.

     Dealer Agreement: The sales and/or servicing agreements between CAC or its
subsidiaries and a participating Dealer which sets forth the terms and
conditions under which CAC or its subsidiaries (i) accepts, as nominee for such
Dealer, the assignment of Contracts for purposes of administration, servicing
and collection and under which CAC or its subsidiary may make Advances to such
Dealers and (ii) accepts outright assignments of Contracts from Dealers or funds
Contracts originated by such Dealer in the name of CAC or any of its
subsidiaries, in each case as such agreements may be in effect from time to
time.

     Financing Documents: The CAC Credit Facility Documents, the Wachovia
Securitization Documents, the 2006-1 Securitization Documents, the 2006-2
Securitization Documents and the 2007-1 Securitization Documents.

     Pool: A grouping on the books and records of CAC or any of its subsidiaries
of Advances or Contracts originated or to be originated with CAC or any of its
subsidiaries by a Dealer and bearing the same pool identification number
assigned by CAC's computer system.

     Prior Agreement: The Intercreditor Agreement dated November 21, 2006 among
CAC, Warehouse Funding, Funding 2006-1, the 2006-1 Trust, Funding 2006-2, the
2006-2 Trust, Wachovia, the 2006-1 Trustee, the 2006-2 Trustee and Comerica.

     Wachovia Securitization Documents: The First Amended and Restated Loan and
Security Agreement dated as of February 15, 2006, as amended, among Warehouse
Funding, CAC, Wachovia Bank, National Association, JPMorgan Chase Bank, N.A.,
Variable Funding Capital Corporation, Park Avenue Receivables Company LLC,
Wachovia and Systems & Services Technologies, Inc. and the other parties from
time to time party thereto, and the documents related thereto, as amended from
time to time.

                                       iiexv10w1

 

Exhibit 10.1

UNIVERSAL COMPRESSION HOLDINGS, INC.

RETENTION BONUS PLAN

ARTICLE 1

ESTABLISHMENT AND PURPOSE

     Universal Compression Holdings, Inc. has established this retention bonus plan for select
employees, known as the Universal Compression Holdings, Inc. Retention Bonus Plan (the “Plan”).
The primary purpose of the Plan is to provide an incentive for employees to remain employed with
the Company or an Affiliate in light of a potential merger with Hanover Compressor Company.

ARTICLE 2

DEFINITIONS

     Whenever used in this Plan, the following terms shall have the meanings set forth below and
when the meaning is intended, the initial letter of the word is capitalized:

	 	(a)	 	“Administrator” means the Compensation Committee of the Board of Directors of
the Company.
	 
	 	(b)	 	“Affiliate” means any corporation, partnership, limited liability company or
partnership, association, trust or other organization which, directly or indirectly,
controls, is controlled by, or is under common control with, the Company. For purposes
of the preceding sentence, “control” (including, with correlative meanings, the terms
“controlled by” and “under common control with”), as used with respect to any entity or
organization, shall mean the possession, directly or indirectly, of the power (i) to
vote more than 50% of the securities having ordinary voting power for the election of
directors of the controlled entity or organization, or (ii) to direct or cause the
direction of management and policies of the controlled entity or organization, whether
through the ownership voting securities or by contract or otherwise.
	 
	 	(c)	 	“Company” means Universal Compression Holdings, Inc., a Delaware corporation.
	 
	 	(d)	 	“Cause” means (i) the commission by a Participant 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) a conviction of a Participant (or a plea of nolo
contendere in lieu thereof) for a felony or a crime involving fraud, dishonesty or
moral turpitude, (iii) willful failure of a Participant to follow the written
directions of the chief executive officer of the Company, Company management, or the
Board of Directors, in the case of executive officers of the Company, when such
directions are consistent with the Participant’s customary duties and responsibilities
and where such refusal has continued for more than 10 days following written-notice;
(iv) willful misconduct as an employee of the Company or an Affiliate which includes
the Participant’s failure to adhere to the Company’s

 

 

	 	 	 	Code of Business Conduct and Ethics; (v) willful failure of a Participant to render
services to the Company or an Affiliate in accordance with his employment
arrangement, which failure amounts to a material neglect of his duties to the
Company or an Affiliate or (vi) substantial dependence, as determined by the
Administrator, 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 Administrator. With
respect to any Participant residing outside of the United States, the Company may
revise the definition of “Cause” as appropriate to conform to the laws of the
applicable non-U.S. jurisdiction.
	 
	 	(e)	 	“Code” means the Internal Revenue Code of 1986, as amended.
	 
	 	(f)	 	“Disability” means any physical or mental condition for which the Participant
would be eligible to receive long-term disability benefits under the Company’s
long-term disability plan. With respect to any Participant residing outside of the
United States, the Company may revise the definition of “Disability” as appropriate to
conform to the laws of the applicable non-U.S. jurisdiction.
	 
	 	(g)	 	“Key Date” means the date through which a Participant must remain in continuous
employment with the Company or an Affiliate in order to be entitled to all or a portion
of a Retention Bonus, as determined under Section 5.2 and set forth on the
Participant’s Retention Bonus Award Letter. A Participant may have a single Key Date
or multiple Key Dates, as determined under Section 5.2.
	 
	 	(h)	 	“Participant” means an employee of the Company or an Affiliate selected by the
Administrator who has been provided a Retention Bonus Award Letter that specifies the
details of the employee’s participation in the Plan.
	 
	 	(i)	 	“Retention Bonus” means the amount described in Section 5.1 and specifically
set forth on the Participant’s Retention Bonus Award Letter.
	 
	 	(j)	 	“Retention Bonus Award Letter” means the letter provided by the Administrator
to each Participant that sets forth the Retention Bonus and Key Date(s) applicable to
the Retention Bonus, as described in Section 5.1.
	 
	 	(k)	 	“Successor” shall mean any person, firm, corporation, or business entity which
at any time, whether by merger, purchase, or otherwise, acquires all or substantially
all of the assets, stock or business of the Company.
	 
	 	(l)	 	“Waiver and Release” shall mean the legal document, in the form attached hereto
as Exhibit A or such other form as may be prescribed by the Company, in which a
Participant, in exchange for a Retention Bonus under the Plan, among other things,
releases the Company, the Affiliates, and the Successor and all of its affiliates,
their directors, officers, employees and agents, their employee benefit plans, and the
fiduciaries and agents of said plans from liability and damages in any way related to
the Participant’s employment with or separation from employment with the Company or an
Affiliate.

2

 

ARTICLE 3

ADMINISTRATION

     3.1     Administration of the Plan. The Plan shall be administered by the Administrator.

     3.2     Authority of the Administrator. Subject to the provisions herein, the
Administrator shall have full power and authority to select and approve Participants; to determine
the amount of the Retention Bonus opportunity (which need not be the same for each Participant); to
determine the terms and conditions of each individual’s participation in a manner consistent with
the provisions of the Plan; to establish Key Dates and, if multiple Key Dates are established for a
Participant, then the portion of the Retention Bonus payable upon each such Key Date; to determine
whether any strategic, financial, and/or operational goals have been met; to interpret, in its sole
discretion, the Plan and any agreement or instrument entered into under the Plan; to establish,
amend, rescind, or waive rules and regulations for the Plan’s administration; and in general to
have the full power to make all other determinations which may be necessary or advisable for the
administration of the Plan, to the extent consistent with the provisions of the Plan.
Notwithstanding the foregoing or any provision of the Plan to the contrary, a Participant must
exhaust all administrative remedies established by the Administrator before bringing any action at
law or equity. The Administrator may delegate its power, authority and duties under the Plan to
the Chief Executive Officer or other executive officers of the Company pursuant to such conditions
or limitations as the Administrator may establish; provided, however, that the Administrator’s duty
to select and approve executive officer Participants, the amounts of such selected executive
officers’ Retention Bonuses and their Key Dates, and the applicable terms and conditions for such
Participants may not be delegated by the Administrator.

     3.3     Decision of Administrator Final. Subject to applicable law, any interpretation
of the provisions of the Plan and any decision on any matter within the discretion of the
Administrator made by the Administrator in good faith shall be final and conclusive and binding on
all persons.

     3.4     Interested Administrator. If an Administrator is also a Participant in the Plan,
he may not decide or determine any matter or question concerning his benefits unless such decision
or determination could be made by him under the Plan if he were not the Administrator.

ARTICLE 4

PARTICIPATION

     The Administrator shall identify which employees of the Company or an Affiliate shall
participate in the Plan. As soon as practicable following selection by the Administrator, each
selected employee shall be provided with a Retention Bonus Award Letter which shall describe the
terms and conditions of each individual’s participation in the Plan. A selected employee shall
become a Participant in the Plan as of such time as the selected employee is provided with his or
her Retention Bonus Award Letter.

3

 

ARTICLE 5

RETENTION BONUS OPPORTUNITY

     5.1     Establishment of Retention Bonus Amount. The Administrator shall establish a
Retention Bonus amount for each Participant, which need not be the same for each Participant. Each
Retention Bonus amount may be stated as a dollar amount or as a percentage of the Participant’s
annual rate of base salary then in effect, and shall represent the amount of cash that can be
earned by the Participant under the Plan. Each Participant’s Retention Bonus amount shall be
communicated to such Participant in the form of a Retention Bonus Award Letter provided to such
Participant by the Company.

     5.2     Establishment of Key Date or Key Dates. Subject to Section 6.1, each Participant
must remain in continuous employment with the Company or an Affiliate (and any Successor) through
and including such Participant’s Key Date or Key Dates in order to be entitled to receive a
Retention Bonus under this Plan. The Administrator, in its sole discretion, shall determine
whether a Participant has one or multiple Key Dates, establish the Key Date or Key Dates for each
Participant, and in the event a Participant has multiple Key Dates, determine the portion of the
Retention Bonus, which are not required to be in equal amounts for each Key Date, payable upon each
such Key Date, which need not be the same for each Participant. A Key Date may be based on (i) a
fixed date, (ii) a number of days occurring after a strategic, financial, and/or operational goal
as determined in the sole discretion of the Administrator, or (iii) such other criteria as
determined in the sole discretion of the Administrator, with such date or dates set forth in the
Participant’s Retention Bonus Award Letter.

     5.3     Payment of Retention Bonus. Subject to Section 6.1, any Retention Bonus payable
under this Plan shall be paid to the Participant (or the Participant’s beneficiary, as the case may
be), as follows:

	 	(a)	 	if a Participant has a single Key Date, the entire Retention Bonus shall be
paid in a single lump sum within ten (10) days after such Participant’s Key Date; or
	 
	 	(b)	 	if a Participant has multiple Key Dates, the portion of the Retention Bonus
assigned to a Key Date shall be paid in a single lump sum within ten (10) days after
such Key Date.

Except as provided in Section 6.1, a Participant who has multiple Key Dates must be employed on all
of his or her Key Dates to be eligible to receive the entire Retention Bonus.

     5.4     Withholding for Taxes. Notwithstanding any other provisions of the Plan, the
Company shall withhold from any payment to be made under the Plan such amount or amounts as may be
required for purposes of complying with the tax withholding provisions of the Code or any
applicable federal, state, local or foreign laws, and in the case of expatriate employees, the
withholding required under the Company’s expatriate program, or such other amount or amounts as are
agreed to by the Participant.

4

 

ARTICLE 6

TERMINATION OF EMPLOYMENT

     6.1     Termination Due to Death Disability, or Termination Without Cause.
Notwithstanding anything in this Plan to the contrary, in the event a Participant’s employment with
the Company or an Affiliate is terminated prior to or as of a Participant’s Key Date by reason of
death, Disability, or termination by the Company or an Affiliate without Cause, subject to
execution without revocation of a Waiver and Release as described below (other than in the event of
termination due to death), such Participant shall receive the following:

	 	(a)	 	in the event the Participant has a single Key Date, the entire Retention Bonus;
or
	 
	 	(b)	 	in the event the Participant has multiple Key Dates, (i) the entire Retention
Bonus, if such termination occurs prior to the Participant’s first Key Date, or (ii)
the unpaid portion of the Retention Bonus, if such termination occurs after one or more
Key Dates, but prior to the final Key Date.

The amount payable under clause (a) or (b) above shall be paid in a single lump sum within ten (10)
days of such termination event or, if later, as soon as practicable following the expiration of the
seventh (7th) day following the date of execution of the Waiver and Release (“Waiver and Release
Revocation Period”), to the extent applicable.

     The Retention Bonus payable under this Section 6.1 is subject to the Participant’s execution
without revocation of the Waiver and Release, except in the event of termination due to the
Participant’s death. If the Participant fails to execute a Waiver and Release within the period of
time prescribed by the Company or executes and then revokes the Waiver and Release during the
Waiver and Release Revocation Period, the Participant shall not be entitled to any Retention Bonus
(or any other benefit) under the Plan. The Waiver and Release shall not apply to, or otherwise
affect or impact, (a) any indemnification rights or coverages, in effect at the time of a
Participant’s termination of employment, provided to the Participant by the Company or an
Affiliate, including, but not limited to, such rights and coverages under any written
indemnification agreement between the Participant and the Company or an Affiliate, or under the
Company’s or an Affiliate’s charter or by-laws or directors and officers insurance policy, or (b)
any rights provided to a Participant under any written agreement between the Participant and the
Company or an Affiliate, including, but not limited to, a change of control agreement.

     6.2     Termination For Other Reasons. In the event a Participant’s employment with the
Company or an Affiliate is terminated for any reason not described in Section 6.1 prior to the Key
Date for a Participant who has a single Key Date or prior to the first Key Date for a Participant
who has multiple Key Dates, then all rights of such Participant to any Retention Bonus under the
Plan shall be forfeited. With respect to a Participant who has multiple Key Dates and whose
employment with the Company or an Affiliate is terminated for any reason not described in Section
6.1 after one or more Key Dates, but prior to the final Key Date, then all rights of such
Participant to the unpaid portion of the Retention Bonus under the Plan shall be forfeited.

5

 

     6.3     Employment with Successors. For purposes of this Plan, employment with any
Successor will be considered employment with the Company (or an Affiliate).

ARTICLE 7

BENEFICIARY

     Any amounts that may be payable under the Plan upon a Participant’s death shall be payable to
the Participant’s surviving spouse, if any, and if not, the estate of the Participant.

ARTICLE 8

RIGHTS OF PARTICIPANTS

     8.1     No Employment or Benefit Guaranty. None of the establishment of the Plan, the
receipt of a Retention Bonus Award Letter, any modification or amendment thereof, or the payment of
any benefits shall be construed as giving to any Participant or other person any legal or equitable
right against the Company or the Administrator except as provided herein. Under no circumstances
shall the maintenance of this Plan constitute a contract of employment or shall the terms of
employment of any Participant be modified or in any way affected hereby. Accordingly, neither
participation in the Plan nor the payment of a Retention Bonus amount shall be held or construed to
give any Participant a right to be retained in the employ of the Company or any Successor or
Affiliate.

     8.2     No Assignment of Rights. The rights or interests of a Participant under this Plan
shall not be subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge,
encumbrance, charge, garnishment, executive or levy of any kind, either voluntarily or
involuntarily, and any attempt to anticipate, alienate, sell, transfer, assign, pledge, encumber,
charge, garnish, execute on, levy or otherwise dispose of any right to an amount payable hereunder
shall be void. No Retention Bonus amount shall be in any manner subject to the debts, contracts,
liabilities, engagements, or torts of any Participant.

     8.3     No Funding. All payments to be made hereunder shall be paid from the general
assets of the Company, and no special or separate fund shall be established and no segregation of
assets shall be made to assure payment of such amounts. No Participants shall have any right,
title, or interest whatsoever in or to any amounts under the Plan prior to receipt. Nothing
contained in the Plan, and no action taken pursuant to its provisions, shall create or be construed
to create a trust or fund of any kind, or a fiduciary relationship between the Company and any
other person. The rights of any Participant or beneficiary to any amounts hereunder shall be no
greater than those of an unsecured general creditor of the Company.

ARTICLE 9

MISCELLANEOUS PROVISIONS

     9.1     Amendment and Termination. The Company reserves the right to amend or terminate
the Plan, in whole or in part, at any time. Except as provided in the Plan, no amendment or
termination of this Plan shall adversely affect the rights of any Participant to his Retention
Bonus.

6

 

     9.2     Headings. The headings of the various Articles and Sections in the Plan are
solely for convenience and shall not be relied upon in construing any provisions hereof. Any
reference to a Section shall refer to a Section of the Plan unless specified otherwise.

     9.3     Evidence. Evidence required of anyone under the Plan shall be signed, made or
presented by the proper party or parties and may be by certificate, affidavit, document or other
information which the person acting thereon considers pertinent and reliable.

     9.4     Gender and Number. Words denoting the masculine gender shall include the feminine
and neuter genders, the singular shall include the plural and the plural shall include the singular
wherever required by the context.

     9.5     Applicable Law. The Plan shall be construed in accordance with the laws of the
State of Delaware, without regard to its conflicts of laws doctrine, except to the extent preempted
by Federal law.

     9.6     Severability. Whenever possible, each provision of the Plan shall be interpreted
in such manner as to be effective and valid under applicable law, but if any provision of the Plan
is held to be invalid, illegal or unenforceable in any respect under any applicable law or rule in
any jurisdiction, such invalidity, illegality or unenforceability shall not affect any other
provision or any other jurisdiction, and the Plan shall be reformed, construed and enforced in such
jurisdiction so as to best give effect to the intent of the Company under the Plan.

     9.7     Effective Date. This Plan shall be effective as of April 13, 2007.

     9.8     Successors. This Plan may be assigned or transferred to, and shall be binding
upon and shall inure to the benefit of, any Successor and any such Successor shall be deemed
substituted for all purposes for the “Company” under the terms of this Plan.

7

 

Exhibit A

Waiver And Release

     In exchange for the payment to me of the Retention Bonus under the Universal Compression
Holdings, Inc. Retention Bonus Plan (the “Plan”), which I understand is incorporated herein by
reference and which is in addition to any remuneration or benefits to which I am already entitled,
except as provided below I agree to waive all of my claims against and release (i) Universal
Compression Holdings, Inc. and its predecessors, successors and assigns (collectively referred to
as the “Company”), (ii) all of its Affiliates (as defined in the Plan), (iii) any Successor (as
defined in the Plan), and (iv) their respective directors and officers, employees and agents,
insurers, employee benefit plans and the fiduciaries and agents of the foregoing (collectively, the
“Corporate Group”) from any and all claims, demands, actions, liabilities and damages arising out
of or relating in any way to my employment with or separation from the Company or any of its
Affiliates. All payments under the Plan are voluntary and are not required by any legal obligation
other than the Plan itself.

     I understand that signing this Waiver and Release is an important legal act. I acknowledge
that I have been advised in writing to consult an attorney before signing this Waiver and Release.
I understand that, in order to be eligible for the Retention Bonus under the Plan, I must sign and
return (to the Company’s Director of Human Resources at Universal Compression Holdings, Inc., 4444
Brittmore Road, Houston, Texas 77041) this Waiver and Release. I acknowledge that I have been
given at least 45 days to consider whether to execute this Waiver and Release.

     In exchange for the payment to me of a Retention Bonus pursuant to the Plan, which is in
addition to any remuneration or benefits to which I am already entitled, except as provided below
(1) I agree not to sue in any local, state and/or federal court or to file a grievance regarding or
relating in any way to my employment with or separation from the Company or any of its Affiliate,
and (2) I knowingly and voluntarily waive all claims and release the Corporate Group from any and
all claims, demands, actions, liabilities, and damages, whether known or unknown, arising out of or
relating in any way to my employment with or separation from the Company or any of its Affiliates,
except to the extent that my rights are vested under the terms of employee benefit plans sponsored
by the Company or any of its Affiliates and except with respect to such rights or claims as may
arise after the date this Waiver and Release is executed. This Waiver and Release includes, but is
not limited to, claims and causes of action under: Title VII of the Civil Rights Act of 1964, as
amended (“Title VII”); the Age Discrimination in Employment Act of 1967, as amended, including the
Older Workers Benefit Protection Act of 1990 (“ADEA”); the Civil Rights Act of 1866, as amended;
the Civil Rights Act of 1991; the Americans with Disabilities Act of 1990 (“ADA”); the Energy
Reorganization Act, as amended, 42 U.S.C. § 5851; the Workers Adjustment and Retraining
Notification Act of 1988; the Pregnancy Discrimination Act of 1978; the Employee Retirement Income
Security Act of 1974, as amended; the Family and Medical Leave Act of 1993; the Fair Labor
Standards Act; the Occupational Safety and Health Act; claims in connection with workers’
compensation or “whistle blower” statutes; and/or contract, tort, defamation, slander, wrongful
termination or any other state or federal regulatory, statutory or common law. Further, I
expressly represent that no promise or agreement which is not expressed in the Plan, the Retention
Bonus Award Letter or this Waiver and Release has been made to me in executing this Waiver and
Release, and that I am relying on my own judgment in executing this Waiver and Release, and that I
am not relying

8

 

on any statement or representation of any member of the Corporate Group or any of their
agents. I agree that this Waiver and Release is valid, fair, adequate and reasonable,
is with my full knowledge and consent, was not procured through fraud, duress or mistake and has
not had the effect of misleading, misinforming or failing to inform me. I acknowledge and agree
that the Company (or an Affiliate) or any Successor will withhold any taxes required by federal or
state law from the Retention Bonus otherwise payable to me and that the Retention Bonus otherwise
payable to me shall be reduced by any monies owed by me to the Company (or an Affiliate) or any
Successor, including, but not limited to, any overpayments made to me by the Company (or an
Affiliate) or any Successor and the balance of any loan by the Company (or an Affiliate) or the
Successor to me that is outstanding at the time that the Retention Bonus is paid. Notwithstanding
anything to the contrary provided herein, I further understand, and the Corporate Group agrees,
that I am not waiving, and will continue to have, any indemnification rights provided to me by the
Company or any of its Affiliates and any other rights provided to me in any written agreement
between me and the Company or any of its Affiliates, which shall survive the execution of this
Waiver and Release.

     I acknowledge that payment of a Retention Bonus pursuant to the Plan is not an admission by
any member of the Corporate Group that they engaged in any wrongful or unlawful act or that any
member of the Corporate Group violated any federal or state law or regulation. I understand that
nothing in this Waiver and Release is intended to prohibit, restrict or otherwise discourage any
individual from engaging in activity protected under 42 U.S.C. § 5851, 10 C.F.R. § 50.7 or the
Sarbanes-Oxley Act of 2002. I acknowledge that no member of the Corporate Group has promised me
continued employment or represented to me that I will be rehired in the future.

     I agree that I will maintain in strictest confidence and will not use in any way, any
confidential and proprietary business information or other nonpublic information or documents
relating to the business and affairs of the Corporate Group. For the purposes of this Waiver and
Release, “confidential and proprietary business information” shall mean any information concerning
any member of the Corporate Group or their business which I learn or develop during my employment
and which is not generally known or available outside of the Corporate Group. Such information,
without limitation, includes information, written or otherwise, regarding any member of the
Corporate Group’s earnings, expenses, material sources, equipment sources, customers and
prospective customers, business plans, strategies, practices and procedures, prospective and
executed contracts and other business arrangements. I acknowledge and agree that all records,
papers, reports, computer programs, strategies, documents (including, without limitation,
memoranda, notes, files and correspondence), opinions, evaluations, inventions, ideas, technical
data, products, services, processes, procedures, and interpretations that are or have been produced
by me or any employee, officer, director, agent, contractor, or representative of any member of the
Corporate Group, whether provided in written or printed form, or orally, all comprise confidential
and proprietary business information. I agree that for a period of one year following my
termination with the Corporate Group that I will not: (a) solicit, encourage or take any action
that is intended, directly or indirectly, to induce any other employee of the Corporate Group to
terminate employment with the Corporate Group; (b) interfere in any manner with the contractual or
employment relationship between the Corporate Group and any other employee of the Corporate Group;
and (c) use any confidential information to directly, or indirectly, solicit any customer of the
Corporate Group. I understand and agree that in the event of any breach of

9

 

the provisions of this paragraph, or threatened breach, by me, any member of the Corporate
Group may, in their discretion, discontinue any or all payments provided for in the Plan and
recover any and all payments already made and any member of the Corporate Group shall be entitled
to apply to a court of competent jurisdiction for such relief by way of specific performance,
restraining order, injunction or otherwise as may be appropriate to ensure compliance with these
provisions. Should I be contacted or served with legal process seeking to compel me to disclose
any such information, I agree to notify the General Counsel of the Company immediately, in order
that the Corporate Group may seek to resist such process if they so choose. If I am called upon to
serve as a witness or consultant in or with respect to any potential litigation, litigation,
arbitration, or regulatory proceeding, I agree to cooperate with the Corporate Group to the full
extent permitted by law, and the Corporate Group agrees that any such call shall be with reasonable
notice, shall not unnecessarily interfere with my later employment, and shall provide for payment
for my time and costs expended in such matters.

     Should any of the provisions set forth in this Waiver and Release be determined to be invalid
by a court, agency or other tribunal of competent jurisdiction, it is agreed that such
determination shall not affect the enforceability of other provisions of this Waiver and Release.
I acknowledge that, except as otherwise provided herein, this Waiver and Release and the Plan set
forth the entire understanding and agreement between me and the Company or any other member of the
Corporate Group concerning the subject matter of this Waiver and Release and supersede any prior or
contemporaneous oral and/or written agreements or representations, if any, between me and the
Company or any other member of the Corporate Group. I understand that for a period of 7 calendar
days following the date I sign this Waiver and Release, I may revoke my acceptance of the offer by
delivering a written statement to the Director of Human Resources of the Company by hand or by
registered-mail, in which case the Waiver and Release will not become effective. In the event I
revoke my acceptance of this offer, I shall not be entitled to any Retention Bonus under the Plan.
I understand that failure to revoke my acceptance of the offer within 7 calendar days following the
date I sign this Waiver and Release will result in this Waiver and Release being permanent and
irrevocable.

10

 

     I acknowledge that I have read this Waiver and Release, have had an opportunity to ask
questions and have it explained to me and that I understand that this Waiver and Release will,
except as otherwise provided herein, have the effect of knowingly and voluntarily waiving any
action I might pursue, including breach of contract, personal injury, retaliation, discrimination
on the basis of race, age, sex, national origin, religion, veterans status, or disability and any
other claims arising prior to the date of this Waiver and Release. By execution of this document,
I do not waive or release or otherwise relinquish any legal rights I may have which are
attributable to or arise out of acts, omissions, or events of any member of the Corporate Group
which occur after the date of the execution of this Waiver and Release.

	 	 	 
	 
	 	 
	 

Participant’s Printed Name

	 	 

Corporate Group’s Representative
	 
	 	 
	 

 

Participant’s Signature

	 	 

 

Corporate Group’s Execution Date
	 
	 	 
	 

 

Participant’s Signature Date

	 	 

 

Participant’s Social Security Number

11

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