AmeriGas Propane, Inc. Compensation Arrangement for Hugh J. Gallagher

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Summary

This agreement outlines the compensation terms for Hugh J. Gallagher, President and CEO of AmeriGas Propane, Inc. He receives an annual base salary of $460,000, participates in annual and long-term incentive plans, and is eligible for cash benefits if his employment is terminated without cause after a change in control. He also participates in various executive benefit and retirement plans. The arrangement is oral and effective as of September 18, 2018.

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EX-10.1 2 d626225dex101.htm EX-10.1 EX-10.1

Exhibit 10.1

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, effective September 18, 2018, of $460,000;

 

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.