Employment Agreement between AmeriGas Propane, Inc. and Jerry E. Sheridan (CFO)

Contract Categories: Human Resources › Employment Agreements
Summary

AmeriGas Propane, Inc. has entered into an at-will employment agreement with Jerry E. Sheridan, appointing him as Vice President – Finance and Chief Financial Officer effective August 15, 2005. Mr. Sheridan will receive a $50,000 hiring bonus, a $260,000 annual salary, and is eligible for annual and long-term incentive awards. He will also receive benefits, executive perks, and severance if terminated without cause after a change of control. Participation in company benefit plans and signing a confidentiality agreement are required.

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EX-10.01 2 exhibit1.htm EX-10.01 EX-10.01

Exhibit 10.1

AMERIGAS PROPANE, INC.

EMPLOYMENT AGREEMENT

FOR

JERRY E. SHERIDAN

Effective August 15, 2005, Jerry E. Sheridan will become Vice President — Finance and Chief Financial Officer of the Company. Mr. Sheridan has an oral agreement with the Company for “at will” employment which includes the following:

Mr. Sheridan:

     
1.
  will be entitled to a one-time hiring bonus of $50,000, and an
annual base salary of $260,000;
 
    
2.
  will participate in the Company’s annual bonus plan, with bonus
payable for fiscal year 2005 based on achievement of a financial
goal based on earnings per Common Unit;
 
    
3.
  will participate in the Company’s long-term compensation plan,
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 Compensation and Management
Development Committee;
 
    
4.
  will receive cash benefits upon termination of his employment
without cause following a change of control of AmeriGas Partners
or UGI Corporation;
 
    
5.
  will participate in the Company’s benefit plans, including the
Supplemental Executive Retirement Plan;
 
    
6.
  is eligible for executive perquisites including financial
planning/tax preparation services, participation in the
executive health maintenance program and airline club
membership; and
 
    
7.
  is required to sign a Confidentiality and Post-Employment
Activities Agreement.