Post-Retirement Medical Benefits Agreement between Universal Compression Holdings, Inc. and Stephen A. Snider

Summary

Universal Compression Holdings, Inc. agrees to provide Stephen A. Snider and his wife with post-retirement medical benefits, provided he remains an active employee until retirement and is not terminated for cause. The benefits include continued participation in the company's medical plans at no cost, serving as primary coverage until Medicare eligibility and as secondary coverage thereafter. These benefits last for the lifetimes of both Mr. Snider and his wife, with coverage for his wife continuing if she outlives him. Mr. Snider must enroll in Medicare when eligible to maintain these benefits.

EX-10.43 3 h88670ex10-43.txt LETTER TO CERTAIN RETIREMENT BENEFIS 1 EXHIBIT 10.43 March 15, 2001 Stephen A. Snider 5565 Cedar Creek Houston, Texas 7056 Dear Steve: It has been decided by the Compensation Committee of the Board of Directors of Universal Compression Holdings, Inc., to provide you and your wife with post-retirement medical benefits. These benefits will not be extended to other dependents. Eligibility requirements and benefits of this program are as follows: Eligibility Requirements To be eligible for post-retirement medical benefits, you must remain and active employee of Universal Compression until your retirement. Should you be released by the Company for Cause, you will not be eligible for post-retirement benefits. Benefits Upon satisfying the eligibility requirements outlined above, you will be eligible to continue in the medical benefits programs that you are enrolled in while as an active employee. This continuation will be for both the regular Medical Plan as provided by Universal as well as the Executive Medical Benefit Plan. There will be no monthly cost to you for these post-retirement benefits. Until eligible for Medicare, these post-retirement benefits will be your primary medical coverage. Upon becoming eligible for Medicare, these post-retirement benefits will then serve as secondary coverage, with Medicare being your primary coverage. You must enroll in Medicare when first eligible in order to continue to receive these post-retirement benefits. These benefits will be offered to you and your spouse through the balance of your lives. Should you pre-decease your wife, these benefits shall be extended to her, on the same terms and conditions, until her death. 2 Stephen A. Snider Page 2 March 15, 2001 If you are in agreement with the foregoing, please acknowledge such agreement below. Sincerely, Universal Compression Holdings, Inc. Compensation Committee By: /s/ JOHN K. CASTLE ---------------------------------- John K. Castle Chairman, Compensation Committee AGREED AND ACCEPTED /s/ STEPHEN A. SNIDER - -------------------------- Stephen A. Snider Date: April 18, 2001