Document:

Exhibit

EXHIBIT 10.25
AMERIGAS PROPANE, INC. 
DESCRIPTION OF COMPENSATION ARRANGEMENT 
FOR 
JERRY E. SHERIDAN
Jerry E. Sheridan is President and Chief Executive Officer of AmeriGas Propane, Inc., the general partner of AmeriGas Partners, L.P.  Mr. Sheridan has an oral compensation arrangement with AmeriGas Propane, Inc. which includes the following:  
Mr. Sheridan: 
		
	1.
	is entitled to an annual base salary, which for fiscal year 2015 was $527,020;

		
	2.
	participates in AmeriGas Propane, 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 AmeriGas Propane, Inc.’s long-term compensation plan, the 2010 Long-Term Incentive Plan, and UGI Corporation’s 2004 Omnibus Equity Compensation Plan, as amended, and 2013 UGI Corporation Omnibus Incentive Compensation Plan;

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

		
	5.
	participates in AmeriGas Propane, Inc.’s benefit plans, including the AmeriGas Propane, Inc. Senior Executive Employee Severance Plan and the AmeriGas Propane, Inc. Supplemental Executive Retirement Plan.

AMERIGAS PROPANE, INC. 
DESCRIPTION OF COMPENSATION ARRANGEMENT 
FOR 
HUGH J. GALLAGHER
Hugh J. Gallagher is Vice President – Finance and Chief Financial Officer of AmeriGas Propane, Inc., the general partner of AmeriGas Partners, L.P.  Mr. Gallagher has an oral compensation arrangement with AmeriGas Propane, Inc. which includes the following:  
Mr. Gallagher:
		
	1.
	is entitled to an annual base salary, which for fiscal year 2015 was $296,400;

		
	2.
	participates in AmeriGas Propane, 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 AmeriGas Propane, Inc.’s long-term compensation plan, the 2010 Long-Term Incentive Plan, and UGI Corporation’s 2004 Omnibus Equity Compensation Plan, as amended, and 2013 UGI Corporation Omnibus Incentive Compensation Plan;

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

		
	5.
	participates in AmeriGas Propane, Inc.’s benefit plans, including the AmeriGas Propane, Inc. Senior Executive Employee Severance Plan and the AmeriGas Propane, Inc. Supplemental Executive Retirement Plan.

AMERIGAS PROPANE, INC. 
DESCRIPTION OF COMPENSATION ARRANGEMENT 
FOR 
ANTHONY D. ROSBACK
Anthony D. Rosback is Vice President and Chief Operating Officer of AmeriGas Propane, Inc., the general partner of AmeriGas Partners, L.P.  Mr. Rosback has an oral compensation arrangement with AmeriGas Propane, Inc. which includes the following:  
Mr. Rosback: 
		
	1.
	is entitled to an annual base salary, which for fiscal year 2015 was $360,000 (prorated to reflect Mr. Rosback's commencement of employment);

		
	2.
	participates in AmeriGas Propane, 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 AmeriGas Propane, Inc.’s long-term compensation plan, the 2010 Long-Term Incentive Plan, 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 AmeriGas Propane, Inc., AmeriGas Partners, L.P. or UGI Corporation; and

		
	5.
	participates in AmeriGas Propane, Inc.’s benefit plans, including the AmeriGas Propane, Inc. Senior Executive Employee Severance Plan and the AmeriGas Propane, Inc. Supplemental Executive Retirement Plan.Exhibit

EXHIBIT 10.26

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 2015 was $435,006;

		
	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 her 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.Exhibit

EXHIBIT 10.27

SUMMARY OF DIRECTOR COMPENSATION
OF
AMERIGAS PROPANE, INC. 
(the General Partner of AmeriGas Partners, L.P.)

The table below shows the components of director compensation effective October 1, 2015.  A director who is an officer or employee of the Registrant or its subsidiaries is not compensated for service on the Board of Directors or on any Committee of the Board.  

DIRECTORS’ COMPENSATION

CASH        EQUITY
COMPONENT        COMPONENT 

		
	Annual Retainer
	$65,000        1,500 Phantom Units 

(Representing 
AmeriGas Partners, L.P.
Common Units to be
awarded in January 2016).

Annual Retainer for            $165,000
Non-Executive Chairman(1) 

Additional Annual Retainer for
Audit Committee Members 
(other than the Chairperson)         $20,000

Additional Annual Retainer for 
Audit Committee Chairperson        $25,000

Additional Annual Retainer for         
Corporate Governance
Committee Chairperson              $  7,500

Additional Annual Retainer for
Compensation/Pension Committee
Chairperson                $  7,500

Additional Annual Retainer for
Presiding Director                $15,000

The Directors are also offered employee rates on propane purchases. 

		
	(1)
	Mr. Greenberg will not receive any equity compensation for his services as Non-Executive Chairman.Exhibit

EXHIBIT 10.40

FIRST AMENDMENT TO THE TRADEMARK LICENSE AGREEMENT

 THIS AMENDMENT (the “First Amendment”) is made and entered into as of the 18th day of November, 2015 (“Effective Date”) by and between UGI Corporation, a Pennsylvania Corporation (“Licensor”), AmeriGas, Inc., a Pennsylvania Corporation (“AmeriGas”), AmeriGas Propane, Inc., a Pennsylvania Corporation (“General Partner”), AmeriGas Partners, L.P., a Delaware limited partnership (“Partnership”), and AmeriGas Propane, L.P., a Delaware limited partnership (“Operating Partnership”).  AmeriGas, the General Partner, the Partnership, and the Operating Partnership may be referred to in this Agreement individually as “Licensee” or collectively as “Licensees.”

WHEREAS, Licensor and Licensees are parties to the Trademark License Agreement, dated April 19, 1995 (“Agreement”), and;

WHEREAS, Licensor and Licensees now desire to further modify the Agreement; 

NOW, THEREFORE, for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 

		
	A.
	The last sentence of the first paragraph is deleted, and the following is inserted in its place:

“AmeriGas, the General Partner, the Partnership, and the Operating Partnership may be referred to in this Agreement individually as “Licensee” or collectively as “Licensees.”

		
	B.
	Section 1 of the Agreement is deleted, and the following is inserted in its place:

“Licensor owns all right, title and interest in the trademarks and service marks listed on the attached Schedule A, including the U.S. federal registrations for these marks, as well as any future registrations or amendments (collectively, the “Mark”), and the goodwill associated with the Mark.”

		
	C.
	Section 2 of the Agreement is deleted, and the following is inserted in its place:    

“Licensor and/or its controlled affiliates have used the Mark in connection with its propane distribution business, including, but not limited to, those goods and services identified on the attached Schedule A (the “Good and Services”).”
		
	D.
	Original Agreement.  No other terms of the Agreement are modified in any way, other than as set forth in this Amendment.  The parties hereby affirm and ratify all of the terms of the Agreement not modified herein. 

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first hereinabove written.
 	
		
	UGI Corporation   

By:   /s/ Kirk R. Oliver      
Name: Kirk R. Oliver
Title:   Chief Financial Officer
	AMERIGAS, INC.

By:   /s/ Monica M. Gaudiosi      
Name: Monica M. Gaudiosi
Title:   General Counsel

	 
	

AMERIGAS PROPANE, INC.

By:   /s/ Monica M. Gaudiosi      
Name: Monica M. Gaudiosi
Title:   General Counsel

	 
	

AMERIGAS PARTNERS, L.P.
By: AMERIGAS PROPANE, INC., as its General Partner

By:   /s/ Monica M. Gaudiosi      
Name: Monica M. Gaudiosi
Title:   General Counsel

	 
	

AMERIGAS PROPANE, L.P.
By: AMERIGAS PROPANE, INC., as its General Partner

By:   /s/ Monica M. Gaudiosi      
Name: Monica M. Gaudiosi
Title:   General Counsel

Schedule A

	
					
	Mark
	Status
	Registration No.
	Registration Date
	Class / Goods and Services

	AMERIGAS
	Registered
	1,811,297
	12/14/1993
	Class 35:  Distributorship services in the field of LP gas, LP gas products and equipment

	AMERIGAS
	Registered
	4,798,689
	8/25/2015
	Class 04:  Energy commodities, namely, propane gas

Class 35:  Retail stores featuring propane gas

Class 37:  Propane cylinder exchange services, namely, refurbishment, refilling and exchange of propane gas cylinders; installation of propane storage tanks; installation, maintenance and repair of fuel distribution systems comprised of gas or liquid fuel distribution piping, connectors, regulators, storage tanks, equipment and appliances

Class 39:  Transportation of propane gas by way of truck, rail and pipeline

	AMERIGAS (Stylized)

	Registered
	4,798,688
	8/25/2015
	Class 04:  Energy commodities, namely, propane gas

Class 35:  Retail stores featuring propane gas

Class 37:  Propane cylinder exchange services, namely, refurbishment, refilling and exchange of propane gas cylinders; installation of propane storage tanks; installation, maintenance and repair of fuel distribution systems comprised of gas or liquid fuel distribution piping, connectors, regulators, storage tanks, equipment and appliances

Class 39:   Transportation of propane gas by way of truck, rail and pipeline

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