Document:

ex_130414.htm

Exhibit 4.15

 

CERTIFICATE OF TRUST

OF

AIR T FUNDING

 

 

This Certificate of Trust of AIR T FUNDING (the “Trust”), is being duly executed and filed by the undersigned trustees, to form a statutory trust under the Delaware Statutory Trust Act (12 Del. C. Section 3801 et seq.) (the “Act”).

 

	
			1.

				
			NAME. The name of the trust formed hereby is Air T Funding.

			

 

	
			2.

				
			DELAWARE TRUSTEE. The name and business address of the trustee of the Trust in the State of Delaware is Delaware Trust Company, 251 Little Falls Dr., Wilmington, DE 19808, Attn: Corporate Trust.

			

 

	
			3.

				
			EFFECTIVE DATE. This Certificate of Trust shall be effective upon its filing.

			

 

IN WITNESS WHEREOF, the undersigned, being all of the trustees of the Trust, have executed this Certificate of Trust in accordance with Section 3811(a) of the Act.

 

	
			 

				
			Delaware Trust Company, not in its individual

			capacity but solely as Property Trustee and

			Delaware Trustee

				
			 

			
	
			 

				
			 

				
			 

				
			 

			
	
			 

				
			By: 

				
			 

				
			 

			
	
			 

				
			Name:

			Title:

				
			 

			
	
			 

				
			 

				
			 

				
			 

			
	 	 	 	 
	 	 	 
	 	Mark Jundt, as Administrative Trustee	 
	 	 	 
	 	 	 
	 	 	 
	 	Brett Reynolds, as Administrative Trusteeex_130416.htm

Exhibit 4.16

 

COMMON SECURITIES CERTIFICATE

 

 

THIS CERTIFICATE IS NOT TRANSFERABLE EXCEPT TO THE

DEPOSITOR OR AN AFFILIATE OF THE DEPOSITOR IN COMPLIANCE

WITH APPLICABLE LAW AND SECTION 510 OF THE TRUST

AGREEMENT AND ONLY IN CONNECTION WITH A

SIMULTANEOUS DELEGATION AND ASSIGNMENT OF

THE EXPENSE AGREEMENT REFERRED TO THEREIN

 

	
			Certificate Number

				
			Number of Common Securities

			
	
			C-0001

				
			120,000                 

			

 

Certificate Evidencing Common Securities

of

AIR T FUNDING

120,000 Common Securities

(liquidation amount $25 per Common Security)

 

Air T Funding, a statutory trust formed under the laws of the State of Delaware (the “Issuer Trust”), hereby certifies that Air T, Inc. (the “Holder”) is the registered owner of 120,000 common securities of the Issuer Trust representing common undivided beneficial interests in the assets of the Issuer Trust and designated the Air T Funding 8.0% Common Securities (liquidation amount $25 per Common Security) (the “Common Securities”). Except in accordance with Section 510 of the Trust Agreement (as defined below) the Common Securities are not transferable and any attempted transfer hereof other than in accordance therewith shall be void. The designations, rights, privileges, restrictions, preferences and other terms and provisions of the Common Securities are set forth in, and this certificate and the Common Securities represented hereby are issued and shall in all respects be subject to the terms and provisions of, the Trust Agreement of the Issuer Trust, dated as of _________, 2018, as the same may be amended from time to time (the “Trust Agreement”), among Air T , Inc., as Depositor, Delaware Trust Company as Property Trustee, Delaware Trust Company as Delaware Trustee and the Administrative Trustees named therein, including the designation of the terms of the Common Securities as set forth therein. The Issuer Trust will furnish a copy of the Trust Agreement to the holder without charge upon written request to the Issuer Trust at its principal place of business or registered office.

 

Upon receipt of this certificate, the Holder is bound by the Trust Agreement and is entitled to the benefits thereunder.

 

Terms used but not defined herein have the meanings set forth in the Trust Agreement.

 

IN WITNESS WHEREOF, one of the Administrative Trustees of the Issuer Trust has executed this certificate this ____ day of _______, 2018.

 

	
			 

				
			AIR T FUNDING

				
			 

			
	
			 

				
			 

				
			 

				
			 

			
	
			 

				
			By: 

				
			 

				
			 

			
	
			 

				
			Name:

			Administrative TrusteeExhibit

EXHIBIT 10.7

UGI CORPORATION
DESCRIPTION OF COMPENSATION ARRANGEMENT
FOR
JOHN L. WALSH

    
John L. Walsh is President and Chief Executive Officer of UGI Corporation.  Mr. Walsh has an oral compensation arrangement with UGI Corporation, which includes the following:

Mr. Walsh:

		
	1.
	is entitled to an annual base salary, which for fiscal year 2018 was $1,196,845;

		
	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 that support business plans and strategic goals;

		
	3.
	participates in UGI Corporation’s long-term compensation plans, UGI Corporation’s 2004 Omnibus Equity Compensation Plan, as amended, and UGI Corporation’s 2013 Omnibus Incentive Compensation Plan;

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

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

UGI CORPORATION
DESCRIPTION OF COMPENSATION ARRANGEMENT
FOR
ROGER PERREAULT

Roger Perreault is Executive Vice President, Global LPG of UGI Corporation and President of UGI International, LLC.  Mr. Perreault has an oral compensation arrangement with UGI Corporation, which includes the following:

Mr. Perreault:
		
	1.
	is entitled to an annual base salary, which for fiscal year 2018 was $577,837;

		
	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 that support business plans and strategic goals;

		
	3.
	participates in the UGI Corporation 2013 Omnibus Incentive 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 in control of UGI Corporation; and

		
	5.
	participates in UGI Corporation’s benefit plans, including the Senior Executive Employee Severance Plan, 2009 Supplemental Executive Retirement Plan for New Employees, and UGI Savings Plan.

UGI CORPORATION
DESCRIPTION OF COMPENSATION ARRANGEMENT
FOR
ROBERT F. BEARD

Robert F. Beard is Executive Vice President, Natural Gas of UGI Corporation and President and Chief Executive Officer of UGI Utilities, Inc.  Mr. Beard has an oral compensation arrangement with UGI Corporation, which includes the following:

Mr. Beard:

		
	1.
	is entitled to an annual base salary, which for fiscal year 2018 was $354,432;

		
	2.
	participates in UGI Utilities, Inc.’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.
	participates in UGI Corporation’s long-term compensation plans, UGI Corporation’s 2004 Omnibus Equity Compensation Plan, as amended, and UGI Corporation’s 2013 Omnibus Incentive Compensation Plan;

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

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

UGI CORPORATION
DESCRIPTION OF COMPENSATION ARRANGEMENT
FOR
TED J. JASTRZEBSKI

Ted J. Jastrzebski is Chief Financial Officer of UGI Corporation.  Mr. Jastrzebski has an oral compensation arrangement with UGI Corporation, which includes the following:

Mr. Jastrzebski:

		
	1.
	is entitled to an annual base salary, which for fiscal year 2018 was $650,000, prorated based on his commencement of employment with UGI Corporation;

		
	2.
	participates in UGI Corporation’s annual bonus plan, with bonus pro-rated for fiscal year 2018 and payable based on the achievement of pre-approved financial and/or business performance objectives that support business plans and strategic goals;

		
	3.
	participates in the UGI Corporation 2013 Omnibus Incentive 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 in control of UGI Corporation; and

		
	5.
	participates in UGI Corporation’s benefit plans, including the Senior Executive Employee Severance Plan and the 2009 Supplemental Executive Retirement Plan for New Employees.

UGI CORPORATION
DESCRIPTION OF COMPENSATION ARRANGEMENT
FOR
MONICA M. GAUDIOSI

Monica M. Gaudiosi is Vice President, General Counsel and Secretary of UGI Corporation.  Ms. Gaudiosi has an oral compensation arrangement with UGI Corporation, which includes the following:

Ms. Gaudiosi:

		
	1.
	is entitled to an annual base salary, which for fiscal year 2018 was $475,345;

		
	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 that support business plans and strategic goals;

		
	3.
	participates in UGI Corporation’s long-term compensation plans, UGI Corporation’s 2004 Omnibus Equity Compensation Plan, as amended, and UGI Corporation’s 2013 Omnibus Incentive Compensation Plan;

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

		
	5.
	participates in UGI Corporation’s benefit plans, including the Senior Executive Employee Severance Plan, 2009 Supplemental Executive Retirement Plan for New Employees, and UGI Savings Plan.

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