AmeriGas Propane, Inc. Compensation Arrangements for Eugene V.N. Bissell and Jerry E. Sheridan

Summary

AmeriGas Propane, Inc. has outlined the compensation arrangements for its President and CEO, Eugene V.N. Bissell, and its Vice President—Finance and CFO, Jerry E. Sheridan. Both executives receive an annual base salary, participate in annual and long-term bonus and incentive plans, and are eligible for additional benefits, including severance and retirement plans. They are also entitled to cash benefits if their employment is terminated without cause following a change in control of the company. These arrangements are based on oral agreements for the 2009 fiscal year.

EX-10.22 3 c91708exv10w22.htm EXHIBIT 10.22 Exhibit 10.22

Exhibit 10.22

AMERIGAS PROPANE, INC.
DESCRIPTION OF COMPENSATION ARRANGEMENT
FOR
EUGENE V.N. BISSELL

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

Mr. Bissell:

	1.		is entitled to an annual base salary, which for fiscal year 2009 is $490,000;

	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, which support business plans and strategic goals;

	3.		participates in AmeriGas Propane, Inc.’s long-term compensation plans, the 2000 Long-Term Incentive Plan, with annual awards as determined by the Compensation/Pension Committee, and UGI Corporation’s 2004 Omnibus Equity Compensation Plan, with annual awards as determined by the UGI Corporation Compensation and Management Development Committee;

	4.		will receive cash benefits upon termination of his employment without cause following a change in control of AmeriGas Partners, L.P. or UGI Corporation; and

	5.		participates in AmeriGas Propane, Inc.’s benefit plans, including the AmeriGas Propane, Inc. Executive Employee Severance Pay Plan and the AmeriGas Propane, Inc. Supplemental Executive Retirement Plan.

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

Jerry E. Sheridan is Vice President — Finance and Chief Financial Officer of AmeriGas Propane, Inc., the general partner of AmeriGas Partners, L.P. 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 2009 is $302,356;

	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, which support business plans and strategic goals;

	3.		participates in AmeriGas Propane, Inc.’s long-term compensation plans, the 2000 Long-Term Incentive Plan, with annual awards as determined by the Compensation/Pension Committee, and UGI Corporation’s 2004 Omnibus Equity Compensation Plan, with annual awards as determined by the UGI Corporation Compensation and Management Development Committee;

	4.		will receive cash benefits upon termination of his employment without cause following a change in control of AmeriGas Partners, L.P. or UGI Corporation; and

	5.		participates in AmeriGas Propane, Inc.’s benefit plans, including the AmeriGas Propane, Inc. Executive Employee Severance Pay Plan and the AmeriGas Propane, Inc. Supplemental Executive Retirement Plan.