UGI Corporation Compensation Arrangement for Chief Financial Officer Kirk R. Oliver

Contract Categories: Human Resources › Compensation Agreements
Summary

UGI Corporation has established a compensation arrangement for Kirk R. Oliver, who became Chief Financial Officer effective October 1, 2012. Mr. Oliver will receive an annual base salary of $515,000 for fiscal year 2013, participate in the company's annual bonus and long-term equity compensation plans, and be eligible for cash benefits if his employment is terminated without cause after a change in control. He will also participate in various executive benefit and retirement plans. The arrangement is based on an oral agreement between Mr. Oliver and UGI Corporation.

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EX-10.1 2 exhibit1.htm EX-10.1 EX-10.1

Exhibit 10.1

UGI CORPORATION
DESCRIPTION OF COMPENSATION ARRANGEMENT
FOR
KIRK R. OLIVER

Effective October 1, 2012, Kirk R. Oliver will become Chief Financial Officer of UGI Corporation. Mr. Oliver has an oral compensation arrangement with UGI Corporation which includes the following:

Mr. Oliver:

             
           
 
  1.        
is entitled to an annual base salary, which for fiscal year 2013 is
$515,000;
  2.        
will participate 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.        
will participate in UGI Corporation’s long-term compensation plan,
the 2004 Omnibus Equity Compensation Plan, as amended, 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 in control of UGI Corporation; and
  5.        
will participate in UGI Corporation’s benefit plans, including the
Senior Executive Employee Severance Plan, the 2009 Supplemental
Executive Retirement Plan and the 2009 Deferral Plan.