Document:

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                                                                   EXHIBIT 10.27

                              EMPLOYMENT AGREEMENT

                  EMPLOYMENT AGREEMENT dated as of September 30, 2001 between
STAR GAS LLC, a limited liability company organized under the laws of the State
of Delaware and doing business at 2187 Atlantic Street, Stamford, Ct. 06902
(the"Company"), and IRIK P. SEVIN, an individual residing at 4 East 72nd
Street, New York, NY 10021 ("Executive").

                              W I T N E S S E T H :

                  WHEREAS, the Company is the general partner of Star Gas
Partners, L.P. ("Partnership"), which through its direct and indirect wholly
owned subsidiaries is the largest retail home heating oil supplier and the
eighth largest retail propane supplier in the United States;

                  WHEREAS, the Executive has served variously as President and
Chief Executive Officer of the Company and its subsidiaries for more than 20
years;

                  WHEREAS, the Company wishes to continue to employ Executive
as the Chief Executive Officer of the Company and its subsidiaries pursuant to
the terms of this Agreement and Executive wishes to continue in such
employment;

                  NOW, THEREFORE, IT IS AGREED AS FOLLOWS:

                  1.  Employment; Position and Responsibilities. During the
                      -----------------------------------------
"Term" of this Agreement (as defined in Section 4(a) hereof), the Company
agrees to continue to employ Executive, and the Executive agrees to continue
to serve, as Chief Executive Officer of the Company and its subsidiaries of
the Company subject to the general supervision and pursuant to the orders,
advice and direction of the Board of Directors of the Company. In such
capacity, Executive shall have authority and responsibility to administer
and manage the business of the Company and the subsidiaries of the Company.
Executive will be located at the Stamford, CT office of the Company or at such
other location in the greater New York area as the Board may designate.

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                  2.  Obligations of Executive. During the Term of this
                      ------------------------
Agreement, Executive agrees that he will devote substantially all of his time,
attention and energies to the business of the Company. Executive shall at all
times be subject to, observe and carry out such reasonable rules, regulations,
policies, directions and restrictions as the Board shall from time to time
establish. Notwithstanding the foregoing, during the term of this Agreement, it
shall not be a violation of this Agreement for the Executive to (a) serve on
civic or charitable boards or committees; (b) serve as a non-employee member of
a board of directors of a business entity which is not competitive with the
Company and (c) attend to personal business, so long as such activities do not
interfere with the performance of the Executive's responsibilities as a senior
executive of the Company in accordance with this Agreement.

                  3.  Compensation.
                      ------------

                      3.1 Cash Compensation; Targeted Bonus. Executive's base
salary during the Term of this Agreement shall be at the rate of Six Hundred
Thousand Dollars ($600,000) per annum for each fiscal year ended September 30
through September 30, 2002 which shall increase at the rate of Twenty-Five
Thousand Dollars ($25,000) per annum in each succeeding fiscal year during the
Term. Executive shall be entitled to receive a bonus targeted at 80% of his
annual base salary ("Targeted Bonus"). The Compensation Committee of the Board
of Directors of the Company (the "Committee") will review Executive's
performance on an annual basis (normally on or about October 15) to determine
what percentage of this Targeted Bonus he shall actually receive, taking into
account Executive's individual job performance and other factors deemed
appropriate by the Committee. The annual base salary shall be paid over the year
in a manner consistent with the Company's payment of executive salaries. The
bonus shall be paid to Executive each January following the end of each fiscal
year.

                      3.2  Benefits. Executive shall be entitled to paid annual
                           --------
vacation, personal leave and holidays during each calendar year during
Executive's employment in accordance with the policies of the Company. Executive
will participate in health, welfare (including disability) and defined benefit
and defined contribution retirement plans, including but not limited to the
pension plan and 401(k) savings plan, that are maintained by the Company on the
same basis

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as such benefits are generally available to senior executives of the
Company and subject to the right of the Company to change, reduce or terminate
such plans or benefits in respect of employees generally. In addition to
insurance programs existing on the date of this Agreement, the Company shall
purchase and maintain in effect a $2,000,000 term life insurance policy on the
life of the Executive payable to his named beneficiary.

                      3.3  Reimbursement. Executive will be reimbursed for
                           -------------
reasonable business and travel expenses and be provided with automobile
transportation in accordance with the normal policies of the Company including
dues, fees and expenses associated with membership in professional business and
civic organizations in which Executive's participation is in the interest of the
Company. The benefits and payments described in this Section 3.3 shall not
include an income tax gross-up, and Executive will be responsible for any tax
on their value.

                      3.4  Equity Incentives.
                           -----------------

                           (a)  The  Executive  will earn and  Company  will
issue to the  Executive,  or if the  Company  has established a Rabbi Trust to
hold equity incentives earned by the Executive, then to such Rabbi Trust, 3,000
Common Units of the Partnership (up to a maximum of 75,000 Common Units for any
fiscal year) for each $.01 that the Company's annual Distributable Cash Flow
("DCF") exceeds the minimum DCF per limited partner unit ("LP Unit") LP Unit
as set forth below.

<TABLE>
<CAPTION>
                                                    Maximum Units
Fiscal Year           Minimum DCF                 Per Fiscal Year
-----------          Per LP Unit                  ---------------
                     -----------
<S>               <C>                            <C>

2002                   $2.44                       75,000 units
2003                    2.52                       75,000 units
2004                    2.66                       75,000 units
2005                    2.81                       75,000 units
2006                    3.00                       75,000 units

</TABLE>

                     For periods beyond the initial 5 year term ending in fiscal
year 2006, the Minimum DCF Per LP Unit will be agreed upon by the Executive and
the Compensation

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Committee consistent with the above, such that Executive will be able to
earn a maximum of 75,000 units per fiscal year.

                Common Units earned and issued pursuant to Section 3.4(a) shall
vest at the rate of 25% per annum on each October 1 following the date of
issuance; provided, however, that all earned and issued Common Units shall
become immediately vested upon (i) termination of the Executive's employment
by the Company without Cause or termination of the Executive's employment by
the Executive for Good Reason (as those terms are defined in Section 4.3), (ii)
termination of the Executive's employment following a Change in Control under
circumstances such that Section 4.5 governs payments to the Executive or (iii)
upon the death or Disability of the Executive (as defined in Section 3.6).

                For purposes of this Agreement, the term
Distributable Cash Flow shall be determined by the Company's Board of
Directors, adjusted to eliminate the impact of acquisitions made after December
31 in the year being calculated.

                    (b)   The Company will issue to the Executive  100,000
Common Units of the  Partnership  at such time as the average daily last sales
price of the Common Units on the exchange on which they are traded is at least
$40 per unit during any 45 day period. These Common Units will be fully vested
on issuance.

                    (c)   The  obligations of the Company  hereinabove
contained in this Section 3.4 shall be subject to the requirement that if at
any time the Board of Directors of the Company shall determine that the
registration, listing or qualification of the Common Units covered hereby upon
any securities exchange or under any federal or state law, or the consent or
approval of any governmental regulatory body or other person or persons is
necessary or desirable as a condition of, or in connection with, the issuance
of such Common Units, such Common Units may not be issued unless and until such
registration listing, qualification, consent or approval shall have been
effected or obtained free of any conditions not acceptable to the Board of
Directors. The Company may require that the Executive shall make such
representations and agreements and furnish such information as the Company
deems appropriate to assure compliance with the foregoing or any other
applicable legal requirements. If the

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Partnership is for any reason prohibited from issuing any Common Units to the
Executive, including requirements of the New York Stock Exchange for unitholder
approval, the Partnership shall use commercially reasonable efforts to remove
such prohibition. If such prohibition is not removed within a period of 120 days
from the date the Common Units were to be issued but for such prohibition, the
Partnership shall either purchase the necessary Common Units or make a cash
payment to the Executive or Rabbi Trust equal in value to the Common Units not
so issued based upon the average daily last sales price of the Common Units on
the exchange on which they are traded during the preceding 45 day period.

             3.5  Supplemental Retirement Benefit. The Executive may voluntarily
                  -------------------------------
retire at any time after he has attained age 65 ("Retirement"). If the
Executive's employment is terminated by reason of his Retirement, the
Executive shall be paid a monthly retirement benefit (the "SERP Benefits")
for life in an amount equal to, when added to all other retirement benefits
paid by the Company to the Executive, 50% of the average annual base and bonus
paid to the Executive during the most recent three full years of employment
divided by 12. The SERP Benefits shall be in addition to any other benefits
provided pursuant to plans, policiesand programs maintained by the Company.

             3.6  Disability/Death.  Upon the death or Disability of the
                  ----------------
Executive,  the Executive or in the case of his death, his named beneficiary,
or, if none, his estate, shall receive a monthly payment beginning on his death
or Disability Termination Date and continuing until age 65 (or in the case of
his death until he would have reached age 65) equal to 60% of his then annual
base salary plus the prior years bonus divided by 12; provided, however, that
each monthly payment shall be reduced by the monthly amount paid to the
Executive under other plans maintained by the Company. The terms "Disabled" or
"Disability" shall mean the Executive's physical or mental incapacity which
renders the Executive incapable, even with a reasonable accommodation by the
Company, of performing the essential functions of the duties required of
Executive by this Agreement for one hundred twenty (120) or more consecutive
days ("Disability Period"); the term "Disability Termination Date" shall
mean the date as of which the Executive's employment with the Company is
terminated, either by the Executive or by the Company, following the Disability
Period.

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           4.   Termination.
                -----------

                4.1  Term. The Term of this Agreement (the "Term") shall
                     ----
commence as of the date hereof and shall continue for a period of five (5)
years, provided, however, that this Agreement automatically shall be renewed
on each October 1 for successive periods of one year each unless cancelled or
terminated by either the Company or the Executive on 90 days advance notice.
Notwithstanding the foregoing, this Agreement may be terminated (i) effective
immediately by the Company for Cause or by Executive for Good Reason as herein
provided (ii) by the Executive or the Company for Disability pursuant to
Section 3.6 in which event the date on which notice of termination is given
shall be the Termination Date and (iii) shall be terminated upon the death of
the Executive.

                4.2  (a)  Termination  by  Executive  without Good Reason or by
                          -----------------------------------------------------
Company for Cause.  If the  Executive terminates his employment under this
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Agreement (other than upon voluntary retirement in accordance with Section 3.5
or upon death or Disability in accordance with Section 3.6) without Good Reason
as defined in Section 4.2(c) hereof, or if the Company terminates Executive's
employment for Cause, as defined in Section 4.2(b) hereof, the Company shall
have no financial obligation to Executive other than to pay Executive's base
salary through the Termination Date and Executive's participation in employee
benefit plans of the Company shall cease as of such Termination Date. In
addition, all unvested Common Units issued pursuant to Section 3.4 shall be
forfeited. The Company shall give Executive written notice of a termination for
Cause and the termination of the Executive's employment shall be effective on
the date that such notice is given.

                (b) For purposes of this Agreement, "Cause" shall mean the
commission by the Executive of any dishonest, illegal or wrongful act involving
fraud, misrepresentation or moral turpitude; any material breach of this
Agreement by the Executive; failure of the Executive in any material respect
to follow directives or orders of the Board of Directors of the Company;
continuing grossly inadequate performance of the Executive's duties; other
significant personal or professional misconduct of Executive, which, in the
reasonable and good faith judgment of the Board of Directors of the Company,
injures or tends to injure the

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reputation of the Company or otherwise adversely affects the interests of the
Company; or intentional disloyalty; provided, however, in each such instance,
tothe extent the Company reasonably and in good faith determines that such
conductis correctable, that the Executive shall be given at least ten (10)
days'advance notice to correct same or if such correction may not reasonably be
completed within such ten (10) days, then the Executive shall be given
sufficient notice to correct same.

              (c)    For purposes of this Agreement, "Good Reason" shall mean,
provided the Executive has not given Cause for termination or become entitled
to receive disability benefits as provided in Section 3.6(i): (i) any material
breach of this Agreement by the Company; (ii) the assignment to the Executive
of any duties materially inconsistent in any material respect with this
position, authority, duties and responsibilities, compensation or benefits
without the prior consent of the Executive, excluding for this purpose an
isolated, insubstantial and inadvertent action not taken in bad faith and
which is remedied by the Company promptly of notice thereof given by the
Executive; (iii) the Executive is required to establish a primary work location
outside of the consolidated metropolitan statistical area that includes
New York, as defined by the U.S. Bureau of the Census (or any comparable
successor area). In respect of events described in the preceding sentence the
Executive shall give the Company written notice and 30 days to cure the
default, failure or refusal. If such default, failure or refusal is not cured
within such 30-day cure period, the Executive may give written notice to the
Company of a termination by Executive for Good Reason.

              4.3    Termination by Company without Cause or by Executive with
                     ---------------------------------------------------------
Good Reason. Subject to Section 4.4 hereof, if the Company terminates the
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employmentof the Executive without Cause or Executive terminates the
Executive's employment with Good Reason, in either event prior to a Change
in Control, then, the Company shall pay compensation, issue equity incentives
and provide benefits to the Executive as follows:

                     (i) Within 30 days after the Termination  Date the Company
will pay the Executive  a lump sum equal to the sum of (x) the Executive's
annual base salary through the Termination Date, to the extent not theretofore
paid, plus a prorated portion of that year's

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Target Bonus through the Termination  Date plus (y) an amount equal to the
Executive's  anticipated annual base salaries plus Targeted Bonuses pursuant
to Section 3.1 for the three years following such Termination Date.

                (ii)  The  Company  shall  continue  to provide to  Executive
the group  insurance  benefits to the Executive for a period of 24 months after
the Termination Date to the extent that such benefits are generally available
to senior executives of the Company. Such benefits shall terminate on the date
prior to the expiration of such 24-month period on which the Executive shall
become entitled to receive benefits from another employer. The Executive shall
notify the Company in writing no later than ten (10) days after the date on
which the Executive shall be covered by the benefits of another employer.
The Company shall be under no obligation to continue to make any such benefit
or benefit plan generally available toemployees.

                (iii) All SERP  Benefits  payable  pursuant  to Section  3.5
shall be  accelerated  in a lump sum payment. This payment shall be calculated
based upon the average of the Executive's most recent past three years' annual
base salary and bonus and assuming retirement at age 65, death at age 78 and
an 8% per annum present value discount rate.

           4.4   Disability or Death. If the Executive's employment is
                 --------------------
terminated due to Disability, the Company shall have no financial obligation
to the Executive other than as set forth in Section 3.6. If the Executive's
employment is terminated due to his death, the Company shall have no financial
obligation to the Executive other than to pay any death benefits to which his
legal representative or beneficiaries may be entitled under any employee
benefit plan maintained by the Company and the benefits set forth in
Section 3.6.

           4.5   Change in Control.  If (A) the Company  terminates
                 -----------------
the employment of the  Executive without  Cause prior to a Change in Control,
as hereinafter defined, if such termination of employment is a condition of the
agreement pursuant to which the Change in Control occurs, or if the Company
terminates the employment of the Executive without Cause within two years
following a Change in Control, or if the Executive terminates the Executive's
employment with Good Reason within two years following a Change in Control or
(B) the Executive voluntarily terminates his employment for any reason during
the period of 30 days

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following the first anniversary of a Change in Control, then, the payments
underSection 4.3 hereof shall not apply but rather the Company shall pay
compensation, issue equity incentives and provide benefits to Executive as
follows:

                (i)   Within 30 days after the  Termination  Date the Company
will pay Executive  a lump sum equal to the sum of (x) Executive's annual base
salary through the Termination Date, to the extent not theretofore paid, plus
(y) an amount equal to Executive's anticipated annual base salaries plus
Targeted  Bonuses and equity incentives pursuant to Section 3 for the three
years following the Termination Date.

                (ii)  The Company shall continue to provide to Executive  the
group  insurance benefits to Executive for a period of 24 months after the
Termination Date to the extent that such benefits are generally available to
senior executives of the Company. Such benefits shall terminate on the date
prior to the expiration of such 24-month period on which Executive shall become
entitled to receive benefits from another employer. Executive shall notify the
Company in writing no later than ten (10) days after the date on which
Executiveshall be covered by the benefits of another employer. The Company
shall be under no obligation to continue to make any such benefit or benefit
plan generally available to employees.

                (iii) The Executive  shall be deemed to have earned  325,000
Senior  Subordinated  Units and the value of such equity incentives shall be
immediately paid to the Executive in cash. The value of each Senior
Subordinated Unit shall be deemed to be the average daily last sales price of
the Senior Subordinated Units on the exchange on which they are traded for the
60 trading days prior to the date of determination.

                (iv)  All SERP  Benefits  payable  pursuant  to  Section  3.5
shall  be  accelerated  in a lump sum payment. This payment shall be calculated
based upon the average of Executive's past three years' annual base salary and
bonus and assuming retirement at age 65, death at age 78 and an 8% per annum
present value discount rate.

          For the purposes of this  Agreement,  a "Change of Control"  shall
mean the occurrence of any one or more of the following:

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                  (a)  the removal of the Company as the general partner of the
Partnership by a vote of the unit holders of the Partnership under
circumstanceswhere Cause (as defined in the partnership agreement of the
Partnership) doesnot exist, and any successor general partner of the
Partnership is not an Affiliate (as hereinafter defined) of the Company or
controlled by the Executiveand/or any of his Affiliates;

                  (b)  the Partnership shall sell, lease, exchange or transfer
(in one transaction or a series of related transactions) substantially all of
its assets, except to an entity constituting an Affiliate of the Company or
controlled by the Executive and/or his Affiliates;

                  (c)  The Partnership shall consolidate or merge with any
other entity as a result of which the continuing or surviving entity is not
controlled by the Company or any Affiliate thereof, or by the Executive and/or
his Affiliates;

                  (d)  The sale by Star Gas LLC of its general partnership
interests to any person or entity not constituting an Affiliate of the Company
or controlled by the Executive and/or his Affiliates;

                  and where: (x) "Affiliate" shall mean any person or entity
controlling, controlled by or under common control with the subject referenced;
and (y) the term "control" shall mean the possession, directly or indirectly,
of the power to direct or cause the direction of the management and policies
of the subject referenced, whether through the ownership of voting securities
or bycontract or otherwise.

            4.6  Gross up Payment. In the event it shall be determined by the
                 ----------------
Company's public accounting firm that any payment or distribution (other than
payments pursuant to Section 3.3 hereof) by the Company or its affiliated
companies to or for the benefit of Executive (whether paid or payable or
distributed or distributable pursuant to the terms of this Agreement or
otherwise, but determined without regard to any adjustment required under this
Section 4.6 (a "Payment")), would be subject to the excise tax imposed by
Section 4999 of the Internal Revenue Code of 1986, as amended or any amendment,
replacement or similar provision thereto, or any interest or penalties are
incurred by Executive (other than interest or penalties incurred as a result of
Executive's failure promptly to file appropriate tax returns or amended tax
returns after notification of such determination by the Company's public
accounting

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firm) with respect to such excise tax (such excise tax, together with any such
interest and penalties, are hereinafter collectively referred to as the "Excise
Tax"), then Executive shall be entitled to receive within 30 days following
such determination or such occurrence, as the case may be, an additional
payment (a"Gross Up Payment") in an amount such that after payment by
Executive of the Excise Tax imposed upon the Gross-Up Payment, Executive will
retain an amount equal to the amount he would have retained had no Exercise
Tax been imposed.

                4.7    The payments to Executive pursuant to Section 4 hereof
shall be paid in lieu of any other amount of severance relating to salary or
bonus continuation to be received by Executive upon termination of employment
of Executive under any severance plan, policy or arrangement of the Company.

           5.  Confidentiality. During and after the Term of this Agreement and
               ---------------
for a period of 36 months thereafter, or, if sooner, the date on
which information becomes generally known in the industry, Executive covenants
and agrees that, other than as required by law, Executive will not disclose to
anyone without the Company's written consent, any confidential materials,
documents, records orother information of any type whatsoever concerning or
relating to the business and affairs of the Company that Executive may have
acquired in the course of Executive's employment hereunder, including but not
limited to: (i) lists of customers of the Company; and (ii) information
relating to methods of doing business (including information concerning
operations, technology and systems) in use or contemplated use by the Company
and not generally known in the industries in which the Company competes or
actually or demonstrably anticipates competing. Notwithstanding the foregoing,
the restrictions contained in this Section shall (i) not, during the Term,
apply to any disclosures which the Executive believes in good faith are in
the best interests of the Company and (ii) lapse if at any time after the Term,
the Company fails to make any payment or provide any benefit due to the
Executive, and should such failure continue for a period of 30 days after
notice specifying such failure.

            6.  Nonsolicitation.
                ---------------

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            6.1 Executive acknowledges that his services and value to
the  Company  are  unique,  special  and extraordinary. Executive covenants and
agrees that during the Term of this Agreement, and for a period of 36 months
after the Termination Date, Executive will not (i) personally solicit, or
encourage others to solicit, employees of the Company to leave the employ of
the Company for the purpose of engaging in any employment competitive with the
Company or otherwise; or (ii) become directly or indirectly involved in the
retail home heating oil or retail propane distribution business in any market
in which the Company and its subsidiaries are operating in on the Termination
Date. Notwithstanding the foregoing, the provisions of Section 6 shall not be
binding upon the Executive, if (i) the payment to the Executive pursuant to
Section 4.5(iii) would be $4,875,000 or less and (ii) the Executive waives
the right to receive such payment.

           6.2  It is the desire  and intent of the  parties  that  the
provisions  of this  Section 6  hereof shall  be enforced to the fullest
extent permissible under the laws and public policies of
the State of New York. If any particular provisions or portions of this Section
hereof shall be adjudicated to be invalid or unenforceable, Section 6 shall be
deemed amended to delete therefrom such provision or portion adjudicated to be
invalid or unenforceable, such amendment to apply only in the particular case
and jurisdiction in which such adjudication is made.

        7.   Governing Law. This Agreement shall be governed by and
             -------------
construed and enforced in accordance with the laws of the State of New York,
not including its conflict of laws principles. If, under such law, any portion
of this Agreement is at any time deemed to be in conflict with any applicable
statute, rule, judicial interpretation binding on the parties, regulation or
ordinance, such portion shall be deemed to be modified or altered to conform
thereto or, if that is not possible, to be omitted from this Agreement, and
the invalidity of any such portion shall not affect the force, effect or
validity of the remaining portions hereof.

         8.  Notices.  All  notices  required to be given  under  this
             -------
Agreement shall be in writing and shall be deemed effective when received
and shall be delivered in person; or by facsimile  transmission
(with  confirmation of receipt);  or by mail, postage prepaid, for delivery as

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registered or certified mail; or by overnight carrier service, addressed, (a)
in the case of Executive, to Executive at Executive's then current business
address with the Company, with a copy to Executive's residential address as
reflected above (or such other residential address as Executive may notify the
Company from time to time) or, (b) in the case of the Company, to the Company's
Vice President - Human Resources or to such other person as the Company may
designate in writing to Executive.

               9.     Resolution of Disputes.
                      ----------------------

                           (a)   Executive recognizes that irreparable injury
would be caused to the Company, not adequately compensable by money damages,
by Executive's violation of any provision of Section 5 or 6 of this Agreement.
Executive further agrees that in the event of any such violation or threatened
violation the Company or any of its direct or indirect subsidiaries or
affiliates, in addition to such other rights and remedies as may exist in its
or their favor, may apply to a court of law or equity to enforce the specific
performance of such provisions and, without notice to Executive, may apply for
an injunction or temporary restraining order against any act which would
violate any such provisions. The state and federal courts of the State of
New York shall have jurisdiction of any dispute arising out of or relating to
this Agreement and each party waives any objection that it may have to laying
the venue of any suit, action or proceeding in any such court.

                           (b)   The  covenants  of  Executive  contained  in
Sections 5 and 6 of this  Agreement  shall be  construed as independent of
all other provisions contained in this Agreement and shall survive the Term
of this Agreement.

                           (c)    If  following a change of control  the
Executive  recovers  any  judgment  against the Company for failure to make
payment of any amounts or to provide equity incentives due to Executive
pursuant to this Agreement, the Company shall pay to Executive as additional
compensation an amount equal to 20% of the amount of the judgment and the
Company consents that the amount of such additional compensation shall be added
to the judgment.

               10.    Miscellaneous.
                      -------------

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                           10.1   Executive  represents and warrants to the
Company  that Executive has no contracts or agreements of any nature that
Executive has entered into with any other person, firm or corporation that
contain any restraints on Executive's present or future services.

                           10.2   Executive and the Company each acknowledges
and agrees that this  Agreement constitutes  the entire understanding between
the Company and Executive relating to the employment of Executive by the
Company and any direct or indirect subsidiary or affiliate of the Company,
and supersedes all prior written and oral agreements and understandings with
respect to the subject matter of this Agreement.

                           10.3   This  Agreement may be amended only by a
subsequent  written agreement  signed by Executive and the Company.

                           10.4   No waiver by either party of or failure to
assert  any provision  or condition of this Agreement to be performed or right
to be exercised shall be deemed a waiver of such or similar or dissimilar
provisions and conditions or rights at the same time or any prior or
subsequent time.

                           10.5   This Agreement and all rights and
obligations of Executive are  personal to Executive and shall not be assignable
and any purported assignment in violation hereof shall not be valid or binding
on the Company. No rights or obligations of the Company under this Agreement
may be assigned or transferred by the Company, except that such rights or
obligations may be assigned or transferred pursuant to a merger or
consolidation in which the Company is not the continuing entity, or the sale or
liquidation of all or substantially all of the business or assets of the
Company,  provided that the assignee or transferee is the successor to all or
substantially all of the business or assets of the Company and such assignee or
transferee assumes all of the liabilities, obligations and duties of the
Company, as contained in this Agreement, either contractually or as a matter of
law. The Company will require any such successor to expressly assume and agree
to perform this Agreement in the same manner and to the same extent that the
Company would be required to perform it if no such succession had taken place.
As used in this Agreement, "Company" shall mean the Company as hereinbefore
defined and any successor to its business or assets as aforesaid, which
executes and delivers the

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agreement provided for in this Section 10.5 or which otherwise becomes bound by
all the terms and provisions of this Agreement or by operation of law.

               10.6   "Undisputed Late Obligations"  shall bear
interest  beginning on the Due Date until paid in full at an annual rate of
one percent (1.0%) plus the prime rate as declared from time to time by The
Chase Manhattan Bank. For purposes hereof, "Undisputed Late Obligations"
shall mean any obligation which remains unpaid 5 days after written notice
thereof is delivered to the other party in accordance with Section 11
(the "Due Date") for money under this Agreement owing from one party to
another, which obligation (i) is not subject to any bona fide dispute or (ii)
has been adjudicated by an arbitration pane l or court of competent
jurisdiction to be due and payable.

               10.7   This Agreement may be signed in counterparts.

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                  IN WITNESS WHEREOF, the parties hereto have executed this
Agreement as of the year and day first above written.

                            STAR GAS LLC

                            By:
                              ------------------------------------------------
                                    Paul Biddelman
                                    Chair of the Compensation Committee

                            EXECUTIVE:
                                      -----------------------------------------
                                      Irik P. Sevin

                                       16<PAGE>

                                                                     EXHIBIT 4.2

                           (FORM OF FACE OF SECURITY)

     This Security is a Global Security within the meaning of the Indenture
hereinafter referred to and is registered in the name of a Depositary or a
nominee thereof. This Security may not be exchanged in whole or in part for a
security registered, and no Transfer of this Security in whole or in part may be
registered, in the name of any Person other than such Depositary or a nominee
thereof, except in the limited circumstances described in the Indenture.

     Unless this certificate is presented by an authorized representative of the
depository trust company, a New York corporation ("DTC"), to issuer or its agent
for registration of transfer, exchange, or payment, and any certificate issued
is registered in the name of Cede & Co. Or in such other name as is requested by
an authorized representative of DTC (and any payment made to Cede & Co. Or to
such other entity as is requested by an authorized representative of DTC), any
transfer, pledge, or other use hereof for value or otherwise by or to any person
is wrongful inasmuch as the registered owner hereof, Cede & Co., Has an interest
herein.

                           SPRINT CAPITAL CORPORATION
                               6.0% Notes due 2007

                                                            CUSIP No. __________
                                                              ISIN US __________
                                                          Common Code __________

No. ___                                                          $______________

     Sprint Capital Corporation, a corporation duly organized and existing under
the laws of Delaware (herein called the "Company", which term includes any
successor Person under the Indenture hereinafter referred to), for value
received, hereby promises to pay to Cede & Co., or registered assigns, the
principal sum of ______________ Million Dollars on January 15, 2007 and to pay
interest thereon from November 2, 2001, or from the most recent Interest Payment
Date to which interest has been paid or duly provided for, semi-annually on
January 15 and July 15 in each year, commencing January 15, 2002, at the rate of
6.0% per annum, until the principal hereof is paid or made available for
payment, provided that any principal and premium, and any such installment of
interest, which is overdue shall bear interest at the rate of 7.0% per annum (to

<PAGE>

the extent that the payment of such interest shall be legally enforceable), from
the dates such amounts are due until they are paid or made available for
payment, and such interest shall be payable on demand. The interest so payable,
and punctually paid or duly provided for, on any Interest Payment Date will, as
provided in such Indenture, be paid to the Person in whose name this Security
(or one or more Predecessor Securities) is registered at the close of business
on the Regular Record Date for such interest, which shall be the December 31 or
June 30 (whether or not a Business Day), as the case may be, next preceding such
Interest Payment Date. Any such interest not so punctually paid or duly provided
for will forthwith cease to be payable to the Holder on such Regular Record Date
and may either be paid to the Person in whose name this Security (or one or more
Predecessor Securities) is registered at the close of business on a Special
Record Date for the payment of such Defaulted Interest to be fixed by the
Trustee, notice whereof shall be given to Holders of Securities of this series
not less than 10 days prior to such Special Record Date, or be paid at any time
in any other lawful manner not inconsistent with the requirements of any
securities exchange on which the Securities of this series may be listed, and
upon such notice as may be required by such exchange, all as more fully provided
in said Indenture.

     Payment of the principal of (and premium, if any) and any such interest on
this Security will be made at the office or agency of the Company maintained for
that purpose in the Borough of Manhattan, New York City, in such coin or
currency of the United States of America as at the time of payment is legal
tender for payment of public and private debts; provided, however, that at the
option of the Company payment of interest may be made by check mailed to the
address of the Person entitled thereto as such address shall appear in the
Security Register.

     Reference is hereby made to the further provisions of this Security set
forth on the reverse hereof, which further provisions shall for all purposes
have the same effect as if set forth at this place. Unless the certificate of
authentication hereon has been executed by the Trustee referred to on the
reverse hereof by manual signature, neither this Security nor the Guarantee
endorsed hereon shall not be entitled to any benefit under the Indenture or be
valid or obligatory for any purpose.

                                       2

<PAGE>

     IN WITNESS WHEREOF, the Company has caused this instrument to be duly
executed under its corporate seal.

                           SPRINT CAPITAL CORPORATION

                           By:
                              -----------------------------------------
                              Dennis C. Piper
                              Vice President and Treasurer

Attest:

-----------------------
Michael T. Hyde
Assistant Secretary

                                       3

<PAGE>

                          CERTIFICATE OF AUTHENTICATION

     This is one of the Securities of the series designated therein referred to
in the within-mentioned Indenture.

                                Dated: _________ __, 200_

                                BANK ONE, N.A.,
                                  As Trustee

                                By:
                                    ------------------------------------
                                           Authorized Signature

                                       4

<PAGE>

                          (FORM OF REVERSE OF SECURITY)

     This Security is one of a duly authorized issue of securities of the
Company (herein called the "Securities"), issued and to be issued in one or more
series under an Indenture, dated as of October 1, 1998 (the "Original
Indenture"), among the Company, Sprint Corporation, a Kansas corporation (herein
called the "Guarantor"), as Guarantor, and Bank One, N.A., as Trustee (herein
called the "Trustee", which term includes any successor trustee under the
Indenture), as supplemented by a First Supplemental Indenture, dated as of
January 15, 1999 (the "First Supplemental Indenture"), and as further
supplemented by a Second Supplemental Indenture, dated as of October 15, 2001
(the "Second Supplemental Indenture" and, together with the First Supplemental
Indenture and the Original Indenture, the "Indenture", which term shall have the
meaning assigned to it in such instrument), and reference is hereby made to the
Indenture for a statement of the respective rights, limitations of rights,
duties and immunities thereunder of the Company, the Guarantor, the Trustee and
the Holders of the Securities and of the terms upon which the Securities are,
and are to be, authenticated and delivered. This Security is one of the series
designated on the face hereof initially limited in aggregate principal amount to
$1,750,000,000.

     The Securities of this series are subject to redemption upon not less than
30 days' notice, but not more than 60 days' notice, by mail, as a whole or in
part, at the election of the Company, at any time or from time to time, at the
following Redemption Price:

     The greater of (1) 100% of the principal amount of the Securities to be
redeemed or (2) the sum of the present values of the Remaining Scheduled
Payments discounted, on a semiannual basis (assuming a 360-day year consisting
of twelve 30-day months), at a rate equal to the sum of the Treasury Rate and 20
basis points. In the case of each of clause (1) and (2), accrued interest will
be payable to the redemption date.

     "Treasury Rate" means, with respect to any redemption date, the rate per
annum equal to the semiannual equivalent yield to maturity (computed as of the
second business day immediately preceding such redemption date) of the
Comparable Treasury Issue, assuming a price for the Comparable Treasury Issue
(expressed as a percentage of its principal amount) equal to the Comparable
Treasury Price for such redemption date.

     "Comparable Treasury Issue" means the United States Treasury security
selected by an Independent Investment Banker as having a maturity comparable to
the remaining term of the Securities of this series that would be utilized, at
the time of selection and in accordance with customary financial practice, in
pricing new issues of corporate debt securities of comparable maturity to the
remaining term of the Securities. "Independent Investment Banker" means one of
the Reference Treasury Dealers appointed by the Company.

     "Comparable Treasury Price" means, with respect to any redemption date, (1)
the average of the Reference Treasury Dealer Quotations for such redemption date
after excluding the highest and lowest of such Reference Treasury Dealer
Quotations, or (2) if the Trustee obtains fewer than five such Reference
Treasury Dealer Quotations, the average of all such quotations. "Reference
Treasury Dealer Quotations" means, with respect to each Reference Treasury
Dealer and any

                                       5

<PAGE>

redemption date, the average, as determined by the Trustee, of the bid and asked
prices for the Comparable Treasury Issue (expressed in each case as a percentage
of its principal amount) quoted in writing to the Trustee by such Reference
Treasury Dealer at 3:30 p.m., New York City time, on the third business day
preceding such redemption date.

     "Reference Treasury Dealer" means each of Banc of America Securities LLC,
Lehman Brothers Inc., and three other primary U.S. Government securities dealers
(each a "Primary Treasury Dealer") selected by the Company and their respective
successors. If any of the foregoing shall cease to be a Primary Treasury Dealer,
the Company shall substitute another nationally recognized investment banking
firm that is a Primary Treasury Dealer.

     "Remaining Scheduled Payments" means, with respect to each Security of this
series to he redeemed, the remaining scheduled payments of principal of and
interest on such Security that would be due after the related redemption date
but for such redemption. If such redemption date is not an interest payment date
with respect to such Security, the amount of the next succeeding scheduled
interest payment on such Security will be reduced by the amount of interest
accrued on such Security to such redemption date.

     In the event of redemption of this Security in part only, a new Security or
Securities of this series and of like tenor for the unredeemed portion hereof
will be issued in the name of the Holder hereof upon the cancellation hereof.

     The Indenture contains provisions for defeasance at any time of the entire
indebtedness of this Security or certain restrictive covenants and Events of
Default with respect to this Security, in each case upon compliance with certain
conditions set forth in the Indenture.

     If an Event of Default with respect to Securities of this series shall
occur and be continuing, the principal of the Securities of this series may be
declared due and payable in the manner and with the effect provided in the
Indenture.

     The Indenture provides that each Holder of a Security is entitled to the
benefits of a Guarantee by the Guarantor of the timely payment of the principal
of, premium, if any, and interest on the Security. The Guarantee endorsed hereon
is an integral part of this Security. The Indenture permits, with certain
exceptions as therein provided, the amendment thereof and the modification of
the rights and obligations of the Company and the Guarantor and the rights of
the Holders of the Securities of each series to be affected under the Indenture
at any time by the Company, the Guarantor and the Trustee with the consent of
the Holders of a majority in principal amount of the Securities at the time
Outstanding of each series to be affected. The Indenture also contains
provisions permitting the Holders of specified percentages in principal amount
of the Securities of each series at the time Outstanding, on behalf of the
Holders of all Securities of such series, to waive compliance by the Company and
the Guarantor with certain provisions of the Indenture and certain past defaults
under the Indenture and their consequences. Any such consent or waiver by the
Holder of this Security shall be conclusive and binding upon such Holder and
upon all future Holders of this Security and of any Security issued upon the
registration of transfer hereof or in exchange herefor or in lieu hereof,
whether or not notation of such consent or waiver is made upon this Security.

                                       6

<PAGE>

     As provided in and subject to the provisions of the Indenture, the Holder
of this Security shall not have the right to institute any proceeding with
respect to the Indenture or for the appointment of a receiver or trustee or for
any other remedy thereunder, unless such Holder shall have previously given the
Trustee written notice of a continuing Event of Default with respect to the
Securities of this series, the Holders of not less than 25% in principal amount
of the Securities of this series at the time Outstanding shall have made written
request to the Trustee to institute proceedings in respect of such Event of
Default as Trustee and offered the Trustee reasonable indemnity, and the Trustee
shall not have received from the Holders of a majority in principal amount of
Securities of this series at the time Outstanding a direction inconsistent with
such request, and shall have failed to institute any such proceeding, for 60
days after receipt of such notice, request and offer of indemnity. The foregoing
shall not apply to any suit instituted by the Holder of this Security for the
enforcement of any payment of principal hereof or any premium or interest hereon
on or after the respective due dates expressed herein.

     No reference herein to the Indenture and no provision of this Security or
of the Indenture shall alter or impair the obligations of the Company and the
Guarantor, which are absolute and unconditional, to pay the principal of and any
premium and interest on this Security at the times, place and rate, and in the
coin or currency, herein prescribed.

     As provided in the Indenture and subject to certain limitations therein set
forth, the transfer of this Security is registrable in the Security Register,
upon surrender of this Security for registration of transfer at the office or
agency of the Company in any place where the principal of and any premium and
interest on this Security are payable, duly endorsed by, or accompanied by a
written instrument of transfer in form satisfactory to the Company and the
Security Registrar duly executed by, the Holder hereof or his attorney duly
authorized in writing, and thereupon one or more new Securities of this series
and of like tenor, of authorized denominations and for the same aggregate
principal amount, will be issued to the designated transferee or transferees.

     The Holder of this Security is entitled to the benefits of the Registration
Rights Agreement, dated as of November 2, 2001, among the Company, the Guarantor
and the Initial Purchasers named therein (the "Registration Rights Agreement").
If (i) neither the Exchange Offer Registration Statement nor the Shelf
Registration Statement (as such terms are defined in the Registration Rights
Agreement), as the case may be, is filed with the Securities and Exchange
Commission on or prior to the date which is 90 days following the date of the
original issuance of the Securities, (ii) the Exchange Offer Registration
Statement or the Shelf Registration Statement, as the case may be, is not
declared effective within 210 days after the original issuance of the
Securities, (iii) if the Exchange Offer Registration Statement is declared
effective, the Registered Exchange Offer (as such term is defined in the
Registration Rights Agreement) is not consummated on or prior to 270 days after
the date of the original issuance of Securities or (iv) the applicable
Registration Statement (as such term is defined in the Registration Rights
Agreement) is filed and declared effective but shall thereafter cease to be
effective (at any time that the Company is obligated to maintain the
effectiveness thereof) without being again effective within 30 days or being
succeeded within 30 days by an additional Registration Statement filed and
declared effective (each such event referred to in clauses (i) through (iv) , a
"Registration Default"), the Company shall be obligated to pay additional
interest ("Additional Interest") to each Holder of Securities, during the period
of one or more such Registration Defaults, at a rate

                                       7

<PAGE>

of 0.25% per annum on the applicable principal amount of Securities held by such
Holder until all Registration Defaults have been cured. Such obligation to pay
Additional Interest shall survive until (i) the applicable Registration
Statement is filed, (ii) the Exchange Offer Registration Statement is declared
effective or the Registered Exchange Offer is consummated with respect to all
properly tendered Securities, (iii) the Shelf Registration Statement is declared
effective or (iv) the applicable Registration Statement again becomes effective
(or is superseded by another effective Registration Statement), as the case may
be. At any time that all Registration Defaults have been cured, the accrual of
Additional Interest will cease.

     The Company shall notify the Trustee and the paying agent under the
Indenture immediately upon the happening of each and every Registration Default.
The Company shall pay the Additional Interest due on the Securities by
depositing with the paying agent (which may not be the Company for these
purposes), in trust, for the benefit of the Holders thereof, prior to 10:00
a.m., New York City time, on the next applicable interest payment date specified
by the Indenture and the Securities, sums sufficient to pay the Additional
Interest then due. The Additional Interest due shall be payable on each
applicable interest payment date specified by the Indenture and the Securities
to the record holder entitled to receive the interest payment to be made on such
date. Each obligation to pay Additional Interest shall be deemed to accrue from
and including the date of the applicable Registration Default.

     The Securities of this series are issuable only in registered form without
coupons in denominations of $1,000 and any integral multiple thereof. As
provided in the Indenture and subject to certain limitations therein set forth,
Securities of this series are exchangeable for a like aggregate principal amount
of Securities of this series and of like tenor of a different authorized
denomination, as requested by the Holder surrendering the same.

     No service charge shall be made for any such registration of transfer or
exchange, but the Company may require payment of a sum sufficient to cover any
tax or other governmental charge payable in connection therewith.

     Prior to due presentment of this Security for registration of transfer, the
Company, the Guarantor, the Trustee and any agent of the Company, the Guarantor
or the Trustee may treat the Person in whose name this Security is registered as
the owner hereof for all purposes, whether or not this Security be overdue, and
neither the Company, the Guarantor or the Trustee nor any such agent shall be
affected by notice to the contrary.

     So long as the Securities are represented by Global Securities and such
Global Securities are held on behalf of a clearing system, notices to Holders of
the Securities may be given by delivery of the relevant notice to that clearing
system for communication by it to beneficial Holders of the Securities.

     All terms used in this Security which are defined in the Indenture shall
have the meanings assigned to them in the Indenture.

     This Note shall be governed by the laws of the State of New York.

                                       8

<PAGE>

                         GUARANTEE OF SPRINT CORPORATION

     FOR VALUE RECEIVED, Sprint Corporation, a corporation duly organized and
existing under the laws of the State of Kansas (the "Guarantor"), hereby fully
and unconditionally guarantees to the Holder of the Security upon which this
Guarantee is endorsed the due and punctual payment of the principal of, premium,
if any, and interest (including interest on any overdue principal and on an
overdue installment of interest) on said Security, when and as the same shall
become due and payable, whether at maturity, by acceleration or redemption or
otherwise, according to the terms thereof and of the Indenture referred to
therein.

     The Guarantor agrees to determine, at least one business day prior to the
date upon which a payment of principal of, or premium, if any, or interest on
said Security is due and payable, whether the Company has available the funds to
make such payment as the same shall become due and payable. In case of the
failure of the Company punctually to pay any such principal, premium, if any, or
interest, the Guarantor hereby agrees to cause any such payment to be made
punctually when and as the same shall become due and payable, whether at
maturity or otherwise, and as if such payment were made by the Company.

     The Guarantor hereby agrees that its obligations hereunder shall be as
principal and not merely as surety, and shall be unconditional, irrevocable, and
absolute, irrespective of the validity, regularity, or enforceability of said
Security or the Indenture, the absence of any action to enforce the same, any
waiver, modification, consent or indulgence by the Holder of said Security or
the Trustee with respect to any provisions hereof or thereof, the recovery of
any judgment against the Company or any action to enforce the same, or any other
circumstances which might otherwise constitute a legal or equitable discharge or
defense of a guarantor. The Guarantor hereby waives diligence, presentment,
notice of non-payment, demand of payment, any right to require a proceeding
first against the Company, filing of claims with a court in the event of merger,
insolvency or bankruptcy of the Company, protest or notice with respect to the
Security upon which this Guarantee is endorsed or indebtedness evidenced thereby
and all notices and demands to the Company or the Guarantor whatsoever and
covenants that this Guarantee will not be discharged except by complete
performance of the obligations contained in said Security and this Guarantee. In
the event of a default in the payment of principal of, premium, if any, or
interest on said Security, the Holder of said Security may institute legal
proceedings directly against the Guarantor to enforce this Guarantee without
first proceeding against the Company.

     The Guarantor shall be subrogated to all rights of the Holder of said
Security against the Company in respect of any amounts paid by the Guarantor
pursuant to the provisions of this Guarantee; provided, however, that the
Guarantor shall not, without the consent of the Holders of all of the Securities
then Outstanding, be entitled to enforce or to receive any payments arising out
of, or based upon, such right of subrogation until the principal of, premium, if
any, and interest on all Securities shall have been paid in full or payment
thereof shall have been provided for in accordance with the Indenture.

     Notwithstanding anything to the contrary contained herein, if following any
payment of principal, premium, if any or interest by the Company on said
Security to the Holder of the

                                       9

<PAGE>

Security it is determined by a final decision of a court of competent
jurisdiction that such payment shall be avoided by a trustee in bankruptcy
(including any debtor-in-possession) as a preference under 11 U. S. C. Section
547 (or any successor statute) and such payment is paid by such Holder to such
trustee in bankruptcy, then and to the extent of such repayment the obligations
of the Guarantor hereunder shall remain in full force and effect.

     This Guarantee ranks equally with all other unsecured and unsubordinated
obligations of the Guarantor. This Guarantee will remain in full force and
effect until the principal of, premium, if any, and interest on the Security
have been fully paid. As provided in the Indenture, the Guarantor may under
certain circumstances assume all rights and obligations of the Company under the
Indenture with respect to the Security.

     This Guarantee shall not be valid or become obligatory for any purpose with
respect to the Security upon which it is endorsed until the certificate of
authentication on said Security shall have been signed by the manual signature
of the Trustee.

     This Guarantee shall be governed by the laws of the State of New York.

     IN WITNESS WHEREOF, the Guarantor has caused this Guarantee to be duly
executed under its corporate seal.

                                     SPRINT CORPORATION

                                     By:
                                        -------------------------------------

Attest:

-------------------------------------

                                       10

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