UGI Corporation Compensation Arrangement for John L. Walsh, President and CEO

Summary

UGI Corporation has an oral compensation agreement with John L. Walsh, its President and CEO. Under this arrangement, Mr. Walsh receives an annual base salary, participates in annual and long-term bonus and incentive plans, and is eligible for various company benefit plans. He is also entitled to cash benefits if his employment is terminated without cause after a change in control of the company. The agreement outlines his compensation and benefits for fiscal year 2015 and participation in key executive plans.

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.