UGI CORPORATION DESCRIPTION OF COMPENSATION ARRANGEMENT FOR JOHN L. WALSH
EX-10.24 2 apu201510kex1024.htm EXHIBIT 10.24 Exhibit
EXHIBIT 10.24
UGI CORPORATION
DESCRIPTION OF COMPENSATION ARRANGEMENT
FOR
JOHN L. WALSH
John L. Walsh is President and Chief Executive Officer of UGI Corporation. Mr. Walsh has an oral compensation arrangement with UGI Corporation which includes the following:
Mr. Walsh:
1. | is entitled to an annual base salary, which for fiscal year 2015 was $1,079,728; |
2. | participates in UGI Corporation’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 UGI Corporation’s long-term compensation plans, 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 UGI Corporation; and |
5. | participates in UGI Corporation’s benefit plans, including the UGI Pension Plan, Senior Executive Employee Severance Plan, Supplemental Executive Retirement Plan, UGI Savings Plan, and Supplemental Savings Plan. |
