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. | |