UGI Corporation Compensation Arrangement for Robert C. Flexon
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Summary
UGI Corporation has an oral compensation agreement with Robert C. Flexon, effective February 14, 2011. Under this arrangement, Mr. Flexon receives an annual base salary of $475,020 for fiscal year 2011, is eligible for annual bonuses based on company performance, and participates in the company's long-term equity compensation plan. He is also entitled to certain cash benefits if his employment ends without cause or for good reason after a change in control, and he participates in UGI's executive benefit and retirement plans.
EX-10.1 2 exhibit1.htm EX-10.1 EX-10.1
UGI CORPORATION
DESCRIPTION OF COMPENSATION ARRANGEMENT
FOR
ROBERT C. FLEXON
Mr. Flexon has an oral compensation arrangement with UGI Corporation which includes the following effective February 14, 2011:
Mr. Flexon:
1. | is entitled to an annual base salary, which for fiscal year 2011 is $475,020; | |||||
2. | participates in UGI Corporations 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 UGI Corporations 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 or if he terminates employment for good reason following a change in control of UGI Corporation; and | |||||
5. | participates in UGI Corporations benefit plans, including the Senior Executive Employee Severance Plan and the 2009 Supplemental Executive Retirement Plan for New Employees. | |||||