Document:

EX-10.10

 Exhibit 10.10 
 January 2012  
 Directors Phantom Unit Grant 

AMERIGAS PROPANE, INC. 
 2010 LONG-TERM INCENTIVE PLAN 
 ON BEHALF OF AMERIGAS PARTNERS, L.P. 

PHANTOM UNIT GRANT LETTER 
 This PHANTOM UNIT GRANT, dated January 9, 2012 (the “Date of Grant”), is delivered by AmeriGas Propane, Inc. (the “Company”) to
             (the “Participant”). 
 RECITALS

 WHEREAS, the AmeriGas Propane, Inc. 2010 Long-Term Incentive Plan on Behalf of AmeriGas Partners, L.P. (the
“Plan”) provides for the grant of Phantom Units (“Phantom Units”) with respect to common units of AmeriGas Partners, L.P. (“APLP”); 
 WHEREAS, the Plan has been adopted by the Board of Directors of the Company (the “Board”), and approved by common unit holders of APLP (“Unitholders”); 

WHEREAS, a Phantom Unit is a Phantom Unit that represents the value of one common unit of APLP (“Common Unit”); 

WHEREAS, the Board has decided to grant Phantom Units to the Participant on the terms described below; 

NOW, THEREFORE, the parties to this Grant Letter, intending to be legally bound hereby, agree as follows: 

1. Grant of Phantom Units. 
 (a) Subject to the terms and conditions set forth in this Grant Letter, the Board hereby awards the Participant an award of 500 Phantom Units (as defined in Section 4). The Phantom Units are granted
with Distribution Equivalents (as defined in Section 4). 
 (b) The Company shall keep records in an Account (as defined in
Section 4) to reflect the number of Phantom Units and Distribution Equivalents credited to the Participant. Fractional Phantom Units shall accumulate in the Participant’s Account and shall be added to other fractional Phantom Units to
create whole Phantom Units. 
 2. Distribution Equivalents with Respect to Phantom Units. 

(a) Crediting of Distribution Equivalents. From the Date of Grant until the Participant’s Account has been fully distributed,
on each payment date for a distribution paid by APLP on its Common Units, the Company shall credit to the Participant’s Account an amount equal to the Distribution Equivalent associated with the Phantom Units credited to the Participant on the
record date for the distribution. 

 (b) Conversion to Phantom Units. On the last day of each Plan Year (as defined in
Section 4), the amount of the Distribution Equivalents credited to the Participant’s Account during that Plan Year shall be converted to a number of Phantom Units, based on the Unit Value (as defined in Section 4) on the last day of
the Plan Year. In the event of a Change of Control (as defined in the Plan) or in the event the Participant dies or Separates from Service (as defined in Section 4) prior to the last day of the Plan Year, as soon as practicable following such
event, and in no event later than the date on which Phantom Units are redeemed in accordance with Section 3, the Company shall convert the amount of Distribution Equivalents previously credited to the Participant’s Account during the Plan
Year to a number of Phantom Units based on the Unit Value on the date of such Change of Control, death or Separation from Service. 
 3.
Events Requiring Redemption of Phantom Units. 
 (a) Redemption. The Company shall redeem Phantom Units credited to
the Participant’s Account at the times and in the manner prescribed by this Section 3. When Phantom Units are to be redeemed, the Company will determine the Unit Value of the Phantom Units credited to the Participant’s Account as of
the date of the Participant’s Separation from Service or death. Except as described in subsection (c) below, an amount equal to 65% of the aggregate Unit Value will be paid in the form of whole Common Units (with fractional Common Units
paid in cash), and the remaining 35% of the aggregate Unit Value will be paid in cash. 
 (b) Separation from Service or
Death. In the event the Participant Separates from Service or dies, the Company shall redeem all the Phantom Units then credited to the Participant’s Account as of the date of the Participant’s Separation from Service or death. In the
event of a Separation from Service, the redemption amount shall be paid within 30 business days after the date of the Participant’s Separation from Service. In the event of death, the redemption amount shall be paid to the Participant’s
estate within 60 business days after the Participant’s death. 
 (c) Change of Control. In the event of a Change of
Control, the Company shall redeem all the Phantom Units then credited to the Participant’s Account. The redemption amount shall be paid in cash on the closing date of the Change of Control (except as described below). The amount paid shall
equal the product of the number of Phantom Units being redeemed multiplied by the Unit Value at the date of the Change of Control. However, in the event that the transaction constituting a Change of Control is not a change in control event under
section 409A of the Code (as defined in Section 4), the Participant’s Phantom Units shall be redeemed and paid in cash upon Separation from Service or death on the applicable date described in subsection (b) above (based on the
aggregate Unit Value on the date of Separation from Service or death as determined by the Board), instead of upon the Change of Control pursuant to this subsection (c). If payment is delayed after the Change of Control, pursuant to the preceding
sentence, the Board may provide for the Phantom Units to be valued as of the date of the Change of Control and interest to be credited on the amount so determined at a market rate for the period between the Change of Control date and the payment
date. 

  
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 (d) Deferral Elections. Notwithstanding the foregoing, pursuant to the Deferral Plan,
the Participant may make a one-time, irrevocable election to elect to have all of the Participant’s Phantom Units credited to the Participant’s account under the Deferral Plan on the date of the Participant’s Separation from Service,
in lieu of the redemption and payments described in subsection (b) above. If the Participant makes a deferral election, the Participant’s Phantom Units will be credited to the Participant’s account under the Deferral Plan at
Separation from Service and the amount credited to the Deferral Plan shall be distributed in accordance with the provisions of the Deferral Plan. If the Participant makes a deferral election under the Deferral Plan and a Change of Control occurs:
(i) subsection (c) above shall apply if the Change of Control occurs before the Participant’s Separation from Service and (ii) the terms of the Deferral Plan shall apply if the Change of Control occurs after or simultaneously
with the Participant’s Separation from Service. An election under the Deferral Plan shall be made in writing, on a form and at a time prescribed by the committee that administers the Deferral Plan and shall be irrevocable upon submission to the
Corporate Secretary. A deferral election shall be made in accordance with section 409A of the Code. 
 4. Definitions. For purposes of
this Grant Letter, the following terms will have the meanings set forth below: 
 (a) “Account” means the
Company’s bookkeeping account established pursuant to Section 1, which reflects the number of Phantom Units and the amount of Distribution Equivalents standing to the credit of the Participant. 

(b) “APLP” means AmeriGas Partners, L.P. 
 (c) “Distribution Equivalent” means an amount determined by multiplying the number of Common Units subject to Phantom Units by the per-Common Unit cash distribution, or the per-Common
Unit fair market value of any distribution in consideration other than cash, paid by APLP on its Common Units. 
 (d)
“Code” means the Internal Revenue Code of 1986, as amended. 
 (e) “Deferral Plan” means the
UGI Corporation 2009 Deferral Plan. 
 (f) “Plan Year” means the calendar year. 

(g) “Separates from Service” or “Separation from Service” means the Participant’s termination of
service as a non-employee director and as an employee of the Company for any reason other than death and shall be determined in accordance with section 409A of the Code. 
 (h) “Phantom Unit” means the right of the Participant to receive a Common Unit, or an amount based on the value of a Common Unit, subject to the terms and conditions of this Grant Letter
and the Plan. 
 (i) “Unit Value” means, at any time, the value of each Phantom Unit, which value shall be equal
to the Fair Market Value (as defined in the Plan) of a Common Unit on such date. 
 5. Taxes. All obligations of the Company under this
Grant Letter shall be subject to the rights of the Company as set forth in the Plan to withhold amounts required to be withheld for any taxes, if applicable. 

  
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 6. Conditions. The obligation of the Company to deliver Common Units shall also be subject to the
condition that if at any time the Board shall determine in its discretion that the listing, registration or qualification of the Common Units upon any securities exchange or under any state or federal law, or the consent or approval of any
governmental regulatory body is necessary or desirable as a condition of, or in connection with, the issue of Common Units, the Common Units may not be issued in whole or in part unless such listing, registration, qualification, consent or approval
shall have been effected or obtained free of any conditions not acceptable to the Board. The issuance of Common Units to the Participant pursuant to this Grant Letter is subject to any applicable taxes and other laws or regulations of the United
States or of any state having jurisdiction thereof. 
 7. Grant Subject to Plan Provisions. 

(a) This grant is made pursuant to the Plan and the Terms and Conditions established by the Committee with respect to the Plan, both of
which are incorporated herein by reference, and in all respects shall be interpreted in accordance with the Plan. The grant and payment of Phantom Units are subject to interpretations, regulations and determinations concerning the Plan established
from time to time by the Board in accordance with the provisions of the Plan, including, but not limited to, provisions pertaining to (i) the registration, qualification or listing of the Common Units issued under the Plan, (ii) changes in
capitalization of APLP and (iii) other requirements of applicable law. The Board shall have the authority to interpret and construe this Grant Letter pursuant to the terms of the Plan, and its decisions shall be conclusive as to any questions
arising hereunder. 
 (b) All Common Units issued pursuant to this grant shall be subject to any applicable policies implemented
by the Board of Directors of the Company, as in effect from time to time. 
 8. No Unit Holder Rights. Neither the Participant, nor any
person entitled to receive payment in the event of the Participant’s death, shall have any of the rights and privileges of a Unitholder with respect to the Common Units, until certificates for the Common Units have been issued upon payment of
Phantom Units. The Participant shall not have any interest in any fund or specific assets of the Company by reason of this award or the Phantom Unit account established for the Participant. 
 9. Assignment and Transfers. The rights and interests of the Participant under this Grant Letter may not be sold, assigned, encumbered or otherwise transferred except, in the event of the death of
the Participant, by will or by the laws of descent and distribution. If the Participant dies, any payments to be made under this Grant Letter after the Participant’s death shall be paid to the Participant’s estate. The rights and
protections of the Company hereunder shall extend to any successors or assigns of the Company and to the Company’s parents, subsidiaries, and affiliates. 
 10. Compliance with Code Section 409A. Notwithstanding any other provisions hereof, this Grant Letter is intended to comply with the requirements of section 409A of the Code. For purposes of
section 409A, each payment of compensation under this Grant Letter shall be treated as a separate payment. 

  
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 11. Applicable Law. The validity, construction, interpretation and effect of this Grant Letter shall
be governed by and construed in accordance with the laws of the Commonwealth of Pennsylvania, without giving effect to the conflicts of laws provisions thereof. 
 12. Notice. Any notice to the Company provided for in this Grant Letter shall be addressed to the Company in care of the Corporate Secretary at the Company’s headquarters, and any notice to
the Participant shall be addressed to such Participant at the current address shown on the records of the Company, or to such other address as the Participant may designate to the Company in writing. Any notice shall be delivered by hand, sent by
telecopy or enclosed in a properly sealed envelope addressed as stated above, registered and deposited, postage prepaid, in a post office regularly maintained by the United States Postal Service. 

IN WITNESS WHEREOF, the parties have executed this Phantom Unit Grant Letter as of the Date of Grant. 

 

							
		 		 	AmeriGas Propane, Inc.
				
	Attest	 		 		 	
				
	  
	 		 	By:	 	 
	Assistant Secretary	 		 		 	 Steven A. Samuel
 Vice
President-Law and General Counsel

		 		 		 	

 I hereby acknowledge receipt of the Plan and the Terms and Conditions incorporated herein. I accept the Phantom Units
described in this Grant Letter, and I agree to be bound by the terms of the Plan, including the Terms and Conditions, and this Grant Letter. I hereby further agree that all the decisions and determinations of the Board shall be final and binding on
me and any other person having or claiming a right under Phantom Unit grant. 
  

	
	Participant

  
 5EX-10.11

 Exhibit 10.11 
 January 2012 
 Employee Performance Unit Grant 

AMERIGAS PROPANE, INC. 
 2010 LONG-TERM INCENTIVE PLAN 
 ON BEHALF OF AMERIGAS PARTNERS, L.P. 

PERFORMANCE UNIT GRANT LETTER 
 This PERFORMANCE UNIT GRANT, dated January 1, 2012 (the “Date of Grant”), is delivered by AmeriGas Propane, Inc. (the “Company”) to
             (the “Participant”). 
 RECITALS

 WHEREAS, the AmeriGas Propane, Inc. 2010 Long-Term Incentive Plan on Behalf of AmeriGas Partners, L.P. (the
“Plan”) provides for the grant of performance units (“Performance Units”) with respect to common units of AmeriGas Partners, L.P. (“APLP”); 
 WHEREAS, the Plan has been adopted by the Board of Directors of the Company, and approved by the common unit holders of APLP (“Unitholders”); 

WHEREAS, a Performance Unit is a performance unit that represents the value of one common unit of APLP (“Common Unit”);

 WHEREAS, the Compensation/Pension Committee of the Board of Directors of the Company (the “Committee”) has decided
to grant Performance Units to the Participant on the terms described below; 
 NOW, THEREFORE, the parties to this Grant Letter,
intending to be legally bound hereby, agree as follows: 
 1. Grant of Performance Units. Subject to the terms and conditions set forth
in this Grant Letter and in the Plan, the Committee hereby grants to the Participant a target award of              Performance Units (the “Target Award”). The Performance Units
are contingently awarded and will be earned and payable if and to the extent that the Performance Goals (described below) and other conditions of the Grant Letter are met. The Performance Units are granted with Distribution Equivalents (as defined
in the Plan). 
 2. Performance Goals. 
 (a) The Participant shall earn the right to payment of the Performance Units if the Performance Goals described below are met for the Performance Period, and if the Participant continues to be employed by
the Company through December 31, 2014. The Performance Period is the period beginning January 1, 2012 and ending December 31, 2014. The Total Unit Holder Return (“TUR”) goals and other requirements of this Section 2 are referred to as the
“Performance Goals.” 

 (b) The Target Award level of Performance Units and Distribution Equivalents will be payable
if APLP’s TUR equals the median TUR of the comparison group designated by the Committee (the “Peer Group”) for the Performance Period. The Peer Group is the group of master limited partnerships that comprises the Alerian MLP Index as
in effect as of the beginning of the Performance Period; provided that if a company is added to the Alerian MLP Index during the Performance Period, that company is not included in the TUR calculation. A company that is included in the Alerian MLP
Index at the beginning of the Performance Period will be removed from the TUR calculation only if the company ceases to exist as a publicly traded entity during the Performance Period, consistent with the methodology described in subsection (c)
below. The actual amount of the award of Performance Units may be higher or lower than the Target Award, or it may be zero, based on APLP’s TUR percentile rank relative to the companies in the Alerian MLP Index Peer Group, as follows:

  

					
	APLP’s TUR Rank	  	 	 
	 (Percentile)
	  	Percentage of Target Award Earned	 
	 Highest
	  	 	200	% 
	 90th
	  	 	175	% 
	 75th
	  	 	150	% 
	 60th
	  	 	125	% 
	 50th
	  	 	100	% 
	 40th
	  	 	50	% 
	 less than 40th
	  	 	0	% 

 The award percentage earned will be interpolated between each of the measuring points. 

(c) TUR shall be calculated by the Company using the comparative returns methodology used by Bloomberg L.P. or its successor at the time
of the calculation. The price used for determining TUR at the beginning and the end of the Performance Period will be the average price for the 90-day period preceding the beginning of the Performance Period (i.e., the 90-day period ending on
December 31, 2011) and the 90-day period ending on the last day of the Performance Period (i.e., the 90-day period ending on December 31, 2014), respectively. The TUR calculation gives effect to all dividends throughout the three-year Performance
Period as if they had been reinvested. 
 (d) The Target Award is the amount designated for 100% (50th TUR rank) performance.
The Participant can earn up to 200% of the Target Award if APLP’s TUR percentile rank exceeds the 50th TUR percentile rank, according to the foregoing schedule. 
 (e) At the end of the Performance Period, the Committee will determine whether and to what extent the Performance Goals have been met and the amount to be paid with respect to the Performance Units.
Except as described in Section 3 below, the Participant must be employed by the Company or its Affiliates (as defined in the Plan) on December 31, 2014 in order for the Participant to receive payment with respect to the Performance Units.

  
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 3. Termination of Employment or Service. 

(a) Except as described below, if the Participant’s employment with the Company terminates before December 31, 2014, the Performance
Units and all Distribution Equivalents credited under this Grant Letter will be forfeited. 
 (b) If the Participant terminates
employment on account of Retirement (as defined below), Disability (as defined in the Plan) or death, the Participant will earn a pro-rata portion of the Participant’s outstanding Performance Units and Distribution Equivalents, if the
Performance Goals and the requirements of this Grant Letter are met. The prorated portion will be determined as the amount that would otherwise be paid after the end of the Performance Period, based on achievement of the Performance Goals,
multiplied by a fraction, the numerator of which is the number of calendar years during the Performance Period in which the Participant has been employed by the Company or its Affiliates and the denominator of which is three. For purposes of the
proration calculation, the calendar year in which the Participant’s termination of employment or service on account of Retirement, Disability, or death occurs will be counted as a full year. 

(c) For purposes of this Grant Letter, “Retirement” means the Participant’s separation from employment upon or after
attaining (i) age 55 with at least 10 years of service with the Company or its Affiliates, or (ii) age 65 with at least 5 years of service with the Company or its Affiliates. 
 (d) In the event of termination of employment or service on account of Retirement, Disability or death, the prorated amount shall be paid after the end of the Performance Period, pursuant to Section 5
below. 
 (e) The Committee may apply the Plan provisions applicable to transfers of employment and reduction of
responsibilities as the Committee deems appropriate. 
 4. Coordination with Severance Plan. 

(a) Notwithstanding anything in this Grant Letter to the contrary, if the Participant receives severance benefits under a Severance Plan
(as defined below) and the terms of such benefits require that severance compensation payable under the Severance Plan be reduced by benefits payable under the Plan, any amount payable to the Participant with respect to Performance Units and
Distribution Equivalents after the Participant’s termination of employment shall be reduced by the amount of severance compensation paid to the Participant under the Severance Plan, as required by, and according to the terms of, the Severance
Plan, if permitted by section 409A of the Internal Revenue Code or an exception. 
 (b) For purposes of this Grant Letter,
“Severance Plan” means any severance plan maintained by the Company, UGI Corporation or an Affiliate of the Company or UGI Corporation that is applicable to the Participant. 
 5. Payment with Respect to Performance Units. If the Committee determines that the conditions to payment of the Performance Units have been met, the Company shall pay to the Participant, between
January 1, 2015 and March 15, 2015, Common Units equal to the number of Performance Units to be paid according to achievement of the Performance Goals, provided that the Company may withhold Common Units to cover required tax withholding in an
amount equal to the minimum statutory tax withholding requirement in respect of the Performance Units earned. 

  
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 6. Distribution Equivalents with Respect to Performance Units. 

(a) Distribution Equivalents shall accrue with respect to Performance Units and shall be payable subject to the same Performance Goals and
terms as the Performance Units to which they relate. Distribution Equivalents shall be credited with respect to the Target Award of Performance Units from the Date of Grant until the payment date. If and to that extent the underlying Performance
Units are forfeited, all related Distribution Equivalents shall also be forfeited. 
 (b) While the Performance Units are
outstanding, the Company will keep records of Distribution Equivalents in a bookkeeping account for the Participant. On each payment date for a distribution paid by APLP on its Common Units, the Company shall credit to the Participant’s account
an amount equal to the Distribution Equivalents associated with the Target Award of Performance Units held by the Participant on the record date for the distribution. No interest will be credited to any such account. 

(c) The target amount of Distribution Equivalents (100% of the Distribution Equivalents credited to the Participant’s account) will
be earned if APLP’s TUR rank is at the 50th TUR percentile rank for the Performance Period. The Participant can earn up to 200% of the target amount of Distribution Equivalents if APLP’s TUR rank exceeds the 50th TUR percentile rank,
according to the schedule in Section 2 above. Except as described in Section 3(b) above, if the Participant’s employment with the Company terminates before December 31, 2014, all Distribution Equivalents will be forfeited. 

(d) Distribution Equivalents will be paid in cash at the same time and on the same terms as the underlying Performance Units are paid,
after the Committee determines that the conditions to payment have been met. 
 7. Withholding. The Participant shall be required to pay
to the Company, or make other arrangements satisfactory to the Company to provide for the payment of, any federal (including FICA), state, local or other taxes that the Company is required to withhold with respect to the payments under this Grant
Letter. 
 8. Change of Control. If a Change of Control (as defined in the Plan) occurs during the Performance Period, the outstanding
Performance Units and Distribution Equivalents shall be paid in cash in an amount equal to the greater of (i) the Target Award amount or (ii) the award amount that would be paid as if the Performance Period ended on the date of the Change of
Control, based on the Company’s achievement of the Performance Goals as of the date of the Change of Control, as determined by the Committee. If a former Participant is entitled to receive a prorated award for the Performance Period pursuant to
Section 3(b) above, the award will be the prorated portion of the amount described in the preceding sentence. The Performance Units and Distribution Equivalents shall be paid on the closing date of the Change of Control. 

  
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 9. Grant Subject to Plan Provisions. 

(a) This grant is made pursuant to the Plan and the Terms and Conditions established by the Committee with respect to the Plan, both of
which are incorporated herein by reference, and in all respects shall be interpreted in accordance with the Plan. The grant and payment of Performance Units and Distribution Equivalents are subject to interpretations, regulations and determinations
concerning the Plan established from time to time by the Committee in accordance with the provisions of the Plan, including, but not limited to, provisions pertaining to (i) the registration, qualification or listing of the Common Units, (ii)
adjustments pursuant to Section 5(c) of the Plan and (iii) other requirements of applicable law. The Committee shall have the authority to interpret and construe the grant pursuant to the terms of the Plan, and its decisions shall be conclusive as
to any questions arising hereunder. 
 (b) This Performance Unit grant and all Common Units issued pursuant to this Performance
Unit grant shall be subject to the UGI Corporation Stock Ownership Policy as adopted by the Board of Directors of the Company and any applicable clawback and other policies implemented by the Board of Directors of the Company, as in effect from time
to time. 
 10. No Employment or Other Rights. The grant of Performance Units shall not confer upon the Participant any right to be
retained by or in the employ of the Company and shall not interfere in any way with the right of the Company to terminate the Participant’s employment at any time. The right of the Company to terminate at will the Participant’s employment
at any time for any reason is specifically reserved. 
 11. No Unit Holder Rights. Neither the Participant, nor any person entitled to
receive payment in the event of the Participant’s death, shall have any of the rights and privileges of a Unitholder with respect to the Common Units related to the Performance Units, unless and until certificates for the Common Units have been
issued to the Participant or successor. 
 12. Assignment and Transfers. The rights and interests of the Participant under this Grant
Letter may not be sold, assigned, encumbered or otherwise transferred except, in the event of the death of the Participant, by will or by the laws of descent and distribution. If the Participant dies, any payments to be made under this Grant Letter
after the Participant’s death shall be paid to the Participant’s estate. The rights and protections of the Company hereunder shall extend to any successors or assigns of the Company and to the Company’s parents, subsidiaries, and
Affiliates. 
 13. Section 409A. This Grant Letter is intended to comply with the “short-term deferral” exception to section
409A of the Internal Revenue Code. 
 14. Applicable Law. The validity, construction, interpretation and effect of this Grant Letter
shall be governed by and construed in accordance with the laws of the Commonwealth of Pennsylvania, without giving effect to the conflicts of laws provisions thereof. 
 15. Notice. Any notice to the Company provided for in this Grant Letter shall be addressed to the Company in care of the Corporate Secretary at the Company’s headquarters, and any notice to
the Participant shall be addressed to such Participant at the current address shown on the payroll of the Company, or to such other address as the Participant may designate to the Company in writing. Any notice shall be delivered by hand, sent by
telecopy or enclosed in a properly sealed envelope addressed as stated above, registered and deposited, postage prepaid, in a post office regularly maintained by the United States Postal Service. 

  
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 IN WITNESS WHEREOF, the Company has caused its duly authorized officers to execute and
attest this Grant Letter, and the Participant has executed this Grant Letter, effective as of the Date of Grant. 
  

							
		 		 	AmeriGas Propane, Inc.
				
	Attest	 		 		 	
				
	  
	 		 	By:	 	 
	Assistant Secretary	 		 		 	 Steven A. Samuel
 Vice
President - Law and General Counsel

 I hereby acknowledge receipt of the Plan and the Terms and Conditions incorporated herein. I accept the Performance Units
described in this Grant Letter, and I agree to be bound by the terms of the Plan, including the Terms and Conditions, and this Grant Letter. I hereby further agree that all the decisions and determinations of the Committee shall be final and binding
on me and any other person having or claiming a right under this grant. 
  

	
	Participant

  

  
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