AmeriGas Propane, Inc. Discretionary Long-Term Incentive Plan for Non-Executive Key Employees

Summary

AmeriGas Propane, Inc. has established a discretionary long-term incentive plan for non-executive key employees to recognize and reward superior performance, motivate high-potential individuals, and encourage retention. Eligible employees are exempt-level, Grade 18 or above, and are nominated by officers based on past and potential future contributions. Awards consist of restricted AmeriGas Partners, L.P. Common Units and a cash component for tax withholding, with a three-year restriction period. Employees who leave before the end of this period forfeit their awards.

EX-10.2 4 w66597exv10w2.txt DISCRETIONARY LONG-TERM INCENTIVE PLAN Exhibit 10.2 SUMMARY OF TERMS AMERIGAS PROPANE, INC. DISCRETIONARY LONG-TERM INCENTIVE PLAN FOR NON-EXECUTIVE KEY EMPLOYEES PURPOSE o Recognize and motivate high-potential individuals o Recognize and reward superior performance o Provide a retention incentive o Align interests of key employees with those of AmeriGas Partners, L.P. Unitholders ELIGIBILITY o Generally, exempt-level employees, Grade 18 or above (non-officers); and o Identified by senior management as able to make substantial contributions to the business of the Partnership o No more than one award every three years NOMINATION AND SELECTION o Any officer can nominate an individual for an award o Criteria for nomination: o Superior past performance which is expected to continue; and o Performance which demonstrates potential to make significant long-term contributions to the Partnership; or o Possession of those skills which, with development, may qualify individual for significant additional future responsibilities o Committee of the CEO, Senior Vice President, Vice President - Human Resources and one Regional Vice President of AmeriGas Propane, Inc. selects award recipients from nominees AWARDS o Target award is 750 Common Units of AmeriGas Partners, L.P. o Units will be restricted and will not receive or accrue any Partnership distributions for three years from the date of the Award o Payout at the end of three years will be made in certificates representing Common Units (approximately two-thirds or 500 Units) and cash (fair market value of 250 Common Units) to be used as an offset to the recipient's income tax withholding obligation o Recipients who terminate employment for any reason, voluntarily or involuntarily, prior to the end of the three-year restriction period will forfeit the entire Award