UGI Corporation Employment Arrangement for Peter Kelly as Vice President – Finance and CFO

Summary

UGI Corporation has an at-will employment arrangement with Peter Kelly, who will serve as Vice President – Finance and Chief Financial Officer starting September 4, 2007. Mr. Kelly will receive a base salary of $400,036 per year, participate in annual and long-term bonus and compensation plans, and is eligible for executive benefits and perquisites. He will also receive cash benefits if terminated without cause after a change in control. The agreement outlines his participation in various company benefit and retirement plans.

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

UGI CORPORATION

DESCRIPTION OF EMPLOYMENT ARRANGEMENT

FOR

PETER KELLY

Effective September 4, 2007, Peter Kelly will be Vice President – Finance and Chief Financial Officer of UGI Corporation. Mr. Kelly has an oral arrangement with UGI Corporation for “at will” employment which includes the following:

Mr. Kelly:



1.				is entitled to an annual base salary of $400,036;

2.				participates in UGI Corporation’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 UGI Corporation’s long-term compensation plan, the Amended and Restated 2004 Omnibus Equity Compensation Plan, with annual awards as determined by the Compensation and Management Development Committee of the Board;

4.				will receive cash benefits upon termination of his employment without cause following a change in control of UGI Corporation;

5.				participates in UGI Corporation’s benefit plans, including the Senior Executive Employee Severance Pay Plan and the Supplemental Executive Retirement Plan; and

6.				is eligible for executive perquisites including financial planning/tax preparation services and participation in the executive health maintenance program.