AmeriGas Propane, Inc. Executive Compensation Arrangements for Sheridan, Gallagher, and Rosback

Contract Categories: Human Resources › Compensation Agreements
Summary

AmeriGas Propane, Inc. has oral compensation arrangements with Jerry E. Sheridan, Hugh J. Gallagher, and Anthony D. Rosback, who serve or have served as senior executives. Each executive is entitled to an annual base salary, participates in annual and long-term incentive plans, and is eligible for bonuses based on performance. They also receive benefits under company plans and are entitled to cash payments if terminated without cause after a change in control. These arrangements outline the key terms of their compensation and benefits during and after their employment.

Read More Arrow
EX-10.25 3 apu201810kex1025.htm EXHIBIT 10.25 Exhibit


EXHIBIT 10.25

AMERIGAS PROPANE, INC.
DESCRIPTION OF COMPENSATION ARRANGEMENT
FOR
JERRY E. SHERIDAN


Jerry E. Sheridan served as President and Chief Executive Officer of AmeriGas Propane, Inc., the general partner of AmeriGas Partners, L.P, until September 18, 2018 and remains an employee of AmeriGas Propane, Inc. until January 2019. Mr. Sheridan has an oral compensation arrangement with AmeriGas Propane, Inc., which includes the following:

Mr. Sheridan:

1.
is entitled to an annual base salary, which for fiscal year 2018 was $563,407;
2.
participates in AmeriGas Propane, Inc.’s annual bonus plan, with bonus payable based on the achievement of pre-approved financial and/or business performance objectives that support business plans and strategic goals;
3.
participates in AmeriGas Propane, Inc.’s long-term compensation plan, the 2010 Long-Term Incentive Plan, and UGI Corporation’s 2004 Omnibus Equity Compensation Plan, as amended, and UGI Corporation’s 2013 Omnibus Incentive Compensation Plan;
4.
will receive cash benefits upon termination of his employment without cause following a change in control of AmeriGas Propane, Inc., AmeriGas Partners, L.P. or UGI Corporation; and
5.
participates in AmeriGas Propane, Inc.’s benefit plans, including the AmeriGas Propane, Inc. Senior Executive Employee Severance Plan, and the AmeriGas Propane, Inc. Supplemental Executive Retirement Plan through September 18, 2018.



AMERIGAS PROPANE, INC.
DESCRIPTION OF COMPENSATION ARRANGEMENT
FOR
HUGH J. GALLAGHER

Hugh J. Gallagher is President and Chief Executive Officer of AmeriGas Propane, Inc., the general partner of AmeriGas Partners, L.P. Mr. Gallagher has an oral compensation arrangement with AmeriGas Propane, Inc., which includes the following:

Mr. Gallagher:

1.
is entitled to an annual base salary, which for fiscal year 2018 was $354,081;
2.
participates in AmeriGas Propane, Inc.’s annual bonus plan, with bonus payable based on the achievement of pre-approved financial and/or business performance objectives that support business plans and strategic goals;
3.
participates in AmeriGas Propane, Inc.’s long-term compensation plan, the 2010 Long-Term Incentive Plan, UGI Corporation’s 2004 Omnibus Equity Compensation Plan, as amended, and UGI Corporation’s 2013 Omnibus Incentive Compensation Plan;
4.
will receive cash benefits upon termination of his employment without cause following a change in control of AmeriGas Propane, Inc., AmeriGas Partners, L.P. or UGI Corporation; and
5.
participates in AmeriGas Propane, Inc.’s benefit plans, including the AmeriGas Propane, Inc. Senior Executive Employee Severance Plan, and the AmeriGas Propane, Inc. Supplemental Executive Retirement Plan.


AMERIGAS PROPANE, INC.
DESCRIPTION OF COMPENSATION ARRANGEMENT
FOR
ANTHONY D. ROSBACK

Anthony D. Rosback is Vice President and Chief Operating Officer of AmeriGas Propane, Inc., the general partner of AmeriGas Partners, L.P. Mr. Rosback has an oral compensation arrangement with AmeriGas Propane, Inc., which includes the following:

Mr. Rosback:

1.
is entitled to an annual base salary, which for fiscal year 2018 was $391,508;
2.
participates in AmeriGas Propane, Inc.’s annual bonus plan, with bonus payable based on the achievement of pre-approved financial and/or business performance objectives that support business plans and strategic goals;
3.
participates in AmeriGas Propane, Inc.’s long-term compensation plan, the 2010 Long-Term Incentive Plan, and UGI Corporation’s 2013 Omnibus Incentive Compensation Plan;
4.
will receive cash benefits upon termination of his employment without cause following a change in control of AmeriGas Propane, Inc., AmeriGas Partners, L.P. or UGI Corporation; and
5.
participates in AmeriGas Propane, Inc.’s benefit plans, including the AmeriGas Propane, Inc. Senior Executive Employee Severance Plan, and the AmeriGas Propane, Inc. Supplemental Executive Retirement Plan.