Document:

APU 2013 10K EX 10.41

        EXHIBIT 10.41

SEPARATION AGREEMENT AND GENERAL RELEASE

For and in consideration of the promises set forth in this Separation Agreement and General Release, and intending to be legally bound, William D. Katz (the "Employee") and AmeriGas Propane, Inc. (the "Company") agree as follows in connection with the Employee’s separation from employment with the Company:

1.    (a)  Effective July 15, 2013 (the “Separation Date”), the Employee’s service as an employee of the Company shall cease.  The Employee confirms his resignation from all offices held by the Employee with the Company and any subsidiary or affiliate of the Company as of May 28, 2013. 

(b)  Subject to the Employee’s execution and delivery of this Separation Agreement and General Release, the Company will pay the Employee, in consideration of the Employee staying in place through the initial integration of the Heritage Propane acquisition and until his successor was identified and successfully on-boarded, the gross amount of $375,000 (less all deductions and withholdings required by law or authorized by the Employee) in a lump sum payment as soon as practicable following the Separation Date and the expiration of the revocation period described in paragraph 3(b) below.  

(c)  In addition, subject to the Employee’s execution and delivery of this Separation Agreement and General Release, the Employee will be paid a prorated management bonus in consideration of current year performance based on the Company’s estimate (in its sole discretion) of achievement of goals as of June 30, 2013 under the Company’s Annual Bonus Plan or such other amount as may be determined by the Compensation/Pension Committee of the Company’s Board of Directors (the “Compensation Committee”) in its sole discretion, which amount shall be payable (if at all) as soon as practicable following determination of the Compensation Committee and expiration of the revocation period described in paragraph 3(b) below.                            

      2. The Employee releases the Company and its parents, partners, predecessors, subsidiaries and affiliates (including without limitation Heritage Operating, L.P.) and its and their predecessors, successors and assigns and its and their directors, officers, employees, partners, agents and trustees (collectively referred to as the "Company and Affiliates") of and from any actions, suits, debts, claims and demands whatsoever in law or in equity, which the Employee ever had, now has, or may have, or which the heirs, executors or administrators of the Employee hereafter may have from the beginning of the Employee's employment with the Company and Affiliates to the date of this Separation Agreement and General Release, and particularly, but without limitation of the foregoing general terms, any claims arising from or relating in any way to the Employee’s employment relationship or the termination of the Employee’s employment relationship with the Company, including but not limited to, any claims which have been asserted or could have been asserted or could be asserted now or in the future under the Age Discrimination in Employment Act, 29 U.S.C. 

1

§621, et seq.; the Employee Retirement Income Security Act of 1974, 29 U.S.C. §1601, et seq.; the Americans with Disabilities Act, 42 U.S.C. §12101, et seq.; Title VII of the Civil Rights Act of 1964, 42 U.S.C. §2000e, et seq.; the Pennsylvania Human Relations Act; the Pennsylvania Compensation Act (in each case, as amended) and any and all other federal, state or local laws and any contract, tort or common law claims now or hereafter recognized.

3.    (a)    The Employee has been and is advised to consult with an attorney before signing this Separation Agreement and General Release.  The Employee has read the terms of this Separation Agreement and General Release and understands its terms and effects.  The Employee has signed this Separation Agreement and General Release with the intention of releasing all claims against the Company and Affiliates in exchange for the payments described in paragraph 1 above, which the Employee acknowledges is valid and sufficient consideration for this Separation Agreement and General Release.  

(b) The Employee may consider this Separation Agreement and General Release for a period of up to twenty-one days from the date on which it is presented to the Employee.  The Employee may revoke this Separation Agreement and General Release at any time within seven days after signing it by delivering written notice to AmeriGas Propane, Inc., Attention:  Chief Executive Officer, P.O. Box 965, Valley Forge, PA 19482.  If the Employee fails to sign and return or revokes this Separation Agreement and General Release on a timely basis, the Separation Agreement and General Release shall be null and void and the Company and Affiliates shall have no obligations thereunder.  

4.    An employment reference will be provided to prospective employers by the WORK NUMBER at 800-367-5690.  The only information given will be the Employee’s name, date of hire, date of termination, job title and if requested by the Employee, rate of pay.  A one-page explanation how to utilize the WORK NUMBER is attached.
 
5. From and after the Separation Date, the Company and Affiliates have no obligation to provide the Employee with any payments, benefits or considerations (including, without limitation, pursuant to the Company’s Senior Executive Employee Severance Plan) other than those described herein, except for the continuation of the Employee's medical benefits at the Employee's own expense to the extent required by law, any rights (including distributions) to which the Employee is entitled under the AmeriGas Propane, Inc. Nonqualified Deferred Compensation Plan and any vested pension and retirement benefits to which the Employee is entitled under the terms of the applicable benefit plans; provided, however, that long-term compensation awards granted to Employee shall, (x) as to options, continue to be exercisable in accordance with the terms and conditions of the UGI Corporation 2004 Omnibus Equity Incentive Plan (the “2004 Plan”), subject to Section 2(b)(ii)(B) of the Terms and Conditions thereof, and (y) as to performance units, be pro-rated in accordance with the terms and conditions of the Company’s 2010 Long Term Incentive Plan (the “2010 Plan”), subject to Section 2(c)(i) of the Terms and Conditions thereofof (for the avoidance of doubt, calculated without offset under Section 4.01(e) of the Senior Executive Employee Severance Plan), with the result that the performance units for the performance periods (x) 2012 through 2014 and (y) 2013 through 2015 shall be reduced to 1,000 units and 566 units, 

2

respectively. The options and performance units held by the Employee are referenced in the attached Exhibit A.  
6.    The Employee's employment relationship with the Company and Affiliates will be permanently and irrevocably terminated as of the Separation Date and the Company and Affiliates do not have any obligation to re-employ the Employee. After leaving the employment of the Company and Affiliates, the Employee will assist the Company and Affiliates to conclude any matters that are pending provided such assistance does not interfere with any subsequent employment obtained by the Employee.  The Employee agrees that he will not disparage or make negative references about the Company and Affiliates or any officer, director, agent or employee of the Company and Affiliates or its or their policies, procedures, programs or business practices.

7.    Nothing contained in this Separation Agreement and General Release shall be considered to be an admission by the Company and Affiliates of any violation of any federal, state or local law or of any duty owed by the Company and Affiliates to the Employee.  

8.    Except to the extent that the terms hereof shall become public pursuant to the last sentence of this paragraph, the Employee shall not disclose the terms of this Separation Agreement and General Release to any person other than the Employee's attorney, accountant or members of the Employee's immediate family.  Any violation of this confidentiality provision by the Employee shall constitute a material breach of this Separation Agreement and General Release.  The Employee acknowledges that the Company may be required under applicable law or stock exchange rule to make a public disclosure of this Separation Agreement and General Release. 

9.  In further consideration of the payments made hereunder, the Employee acknowledges that he has previously executed and delivered that certain Confidentiality and Post-Employment Activities Agreement dated as of January 14, 1997 (the “Confidentiality Agreement”) with the Company and that the Confidentiality Agreement remains in full force and effect, including following his separation from employment with Company.  The Employee also represents that the Employee has returned all Company records and confidential information to the Company.
    
10. Neither the Company and Affiliates nor their agents, representatives or attorneys have made any representations to the Employee concerning the terms of effects of this Separation Agreement and General Release other than those contained herein.  Except as set forth in paragraph 9, this Separation Agreement and General Release is the only agreement between the parties and supersedes all prior agreements between the parties regarding the subjects covered by it.  This Separation Agreement and General Release may only be changed by means of a written modification signed by both parties.

11.  This Separation Agreement and General Release and the obligations of the parties hereto shall be construed, interpreted and enforced in accordance with the laws of the Commonwealth of Pennsylvania, without regard to its choice of law provisions.  The Employee agrees to the exclusive jurisdiction of the Court of Common Pleas of Montgomery County, Pennsylvania and the United States District Court for the Eastern District of Pennsylvania in all disputes that may arise between the Employee and the Company and its affiliates.

3

WITNESS    AMERIGAS PROPANE, INC.

________________________________    By: _______________________________    
Jerry Sheridan, President and CEO

DATE: _____________________________

WITNESS    WILLIAM D. KATZ

________________________________    ___________________________________

DATE: _____________________________

4

EXHIBIT A

OPTIONS

	
					
	Grant Number
	Grant Date
	Exercise Price
	Outstanding
	Expiration Date

	2004 OECP OP
	01/01/2009
	$24.42
	4,334
	12/31/2018

	2004 OECP OP
	01/01/2010
	$24.19
	8,667
	12/31/2019

	2004 OECP OP Jan11
	01/01/2011
	$31.58
	12,000
	12/31/2020

	2004 OECP OP Jan12
	01/01/2012
	$29.40
	13,000
	12/31/2021

	2004 OECP OP Jan13
	01/01/2013
	$32.71
	12,000
	12/31/2022

                                
PERFORMANCE UNITS

	
		
	Performance Period
	Target Amount

	2011-2013
	1,700

	2012-2014
	1,000*

	2013-2015
	566*

*After pro-ration in accordance with the 2010 Plan.

5Quartz Mountain Resources Ltd..: Exhibit 4.4 - Filed by newsfilecorp.com

 

June 27, 2013 

Quartz Mountain Resources Ltd. 

15th Floor, 1040 West Georgia Street 

Vancouver,
British Columbia V6E 4H1 

	Attention: 	Ronald Thiessen 
	  	President 

Dear Sirs/Mesdames: 

RE: Amendment To Letter Agreement: Galaxie and ZNT Projects
– Joint Venture 

We refer to the letter agreement dated November 1, 2012 the
(“Letter Agreement”) between Amarc Resources Ltd (“Amarc”) and
Quartz Mountain Resources Ltd. (“Quartz”) pursuant to which Amarc and
Quartz have established the Galaxie/ZNT Joint Venture under which Amarc
currently holds a 40% Ownership Interest and Quartz holds a 60% Ownership
Interest in the Joint Venture following the completion by Amarc of the funding
obligations described in Section 6 of the Letter Agreement. 

Following our recent discussions, we understand that due to
ongoing challenging market conditions and Quartz’s outstanding flow-through
obligations, Quarts has requested that Amarc consider accelerating the exercise
of the option available to Amarc as described in Section 10 of the Letter
Agreement. Based on the results of work completed to date on the Galaxie and ZNT
properties and current market conditions, Amarc has indicted to Quartz that is
not prepared to exercise the option on the terms currently set forth in Section
10 of the Letter Agreement, but that Amarc would consider revisiting the
commercial terms of the option so as to agree with Quartz on the terms of an
amended option that Amarc would consider exercising.

Accordingly, following detailed discussions between Amarc and
Quartz on the terms of a revised option, we write to confirm our agreement to
amend the Letter Agreement on the terms and conditions set out herein. 

Form of Joint Venture 

	1. 	
      Amarc and Quartz (the “Parties”, and each a
      “Party”) agree that separate joint ventures will be established
      with respect to the Galaxie Project (the “Galaxie Joint Venture”)
      and the ZNT Project (the “ZNT Joint Venture”) and that Amarc will
      own a 40% Ownership Interest and that Quartz will own a 60% Ownership
      Interest in each of the Galaxie Joint Venture and the ZNT Joint
      Venture.

	 	 
	2. 	
      Notwithstanding the fact that the Letter Agreement sets
      out the terms and conditions applicable to a single joint venture, the
      Parties agree that the terms and conditions of the Letter Agreement, in
      particular those terms as set out in Schedule B thereto, as amended
      hereby, will apply mutatis mutandis to the separate joint ventures with
      respect to the Galaxie Project and the ZNT Project. The Parties further
      agree that certain corresponding amendments will be required to the terms
      and conditions set out in Schedule B to the Letter Agreement to reflect
      the amendments contemplated herein, including those involving
    Sections
4, 5, 9, 15, 23, 24, 31, 35 and 36 and agree to work together in good faith to effect said amendments upon satisfaction of the Conditions set out in Section 6 below. 

 

Options 

	
3. 		
Section 10 of the Letter Agreement is hereby deleted in its entirety, and replaced as follows:

	
	 	 
		
Amarc will have the following options to increase its Ownership Interest in the Galaxie Joint Venture (the “Galaxie Option”) and the ZNT Joint Venture (the “ZNT Option”) upon execution
hereof:

	

Galaxie Option 

Amarc will have an option until October 31, 2013, to purchase an additional 20% Ownership Interest for a total Ownership Interest of 60%, in consideration of Amarc paying Quartz the cash amount of $235,000. Quartz agrees to use these proceeds to
conduct a surface exploration program in relation to the Galaxie Project after which the parties will share costs in proportion to their interests. 

 ZNT Option 

Amarc will have an option until October 31, 2013, to purchase an additional 20% Ownership Interest for a total Ownership Interest of 60%, in consideration of Amarc paying Quartz the cash amount of $210,000. Quartz agrees to use these proceeds to
conduct a surface exploration program in relation to the ZNT Project after which the parties will share costs in proportion to their interests. 

	
4. 		
Quartz shall be exclusively entitled to claim the benefit of any eligible CEE expenditures incurred by Quartz as contemplated under Section 3 above.

	
	 	 
	
5. 		
Notwithstanding Section 15 of Schedule B to the Letter Agreement, the Parties Agree that upon the execution of this Agreement by the Parties, Amarc shall be appointed as the Manager of the Galaxie Joint Venture and the ZNT Joint
Venture for the purposes of managing programs and budgets.

	

Conditions 

	
6. 		
The obligations of the Parties under this Agreement will be subject to the fulfilment of the following conditions precedent (the “Conditions”):

	
	 	 	 
		
(a) 		
The receipt by the Parties of all required corporate approvals, including Board of Directors and shareholder approval if required; and

	
	 	 	 
		
(b) 		
the receipt by the Parties of such approvals from all relevant governmental and regulatory authorities and securities exchanges, that may be necessary or desirable for completion this Agreement.

	

	
7. 		
The obligation of Amarc to fund 60% of the Galaxie Project expenditures as contemplated under Section 10 hereof, and the election, if any, to exercise the Galaxie Option will be further subject to the deferral or re-structuring of
the obligations relating to the $650,000 Convertible Debenture issued on August 20, 2012 by Quartz to Bearclaw Capital Corp. to the satisfaction of Amarc, in its sole discretion (the “Galaxie Condition”), unless this condition is waived by Amarc.

	

2 

	
8. 		
Each of the Parties undertakes to use good faith and to make reasonable efforts to fulfil the Conditions and the Galaxie Condition. For greater certainty, the Conditions in Sections 6 shall not be waived, except by written
agreement of both Parties.

	
	 	 	 
	
9. 		
In the event that any of the Conditions or the Galaxie Condition are neither fulfilled nor waived, any Exploration Expenditures funded by Amarc following the date of this Agreement in excess of its obligation to fund 40% of
Exploration Expenditures, will constitute a demand loan from Amarc to Quartz bearing interest at the CIBC Prime Rate plus 5% from the date of the advance.

	
	 	 	 
	10. 	
Under the terms of the Letter Agreement, Amarc is currently obligated to fund 40% of all Exploration Expenditures incurred in relation to the Galaxie/ZNT Joint Venture. Upon satisfaction of the Conditions set out in Section 6
above and whether or not Amarc has elected to exercise the ZNT Option, Amarc agrees to fund 60% of Exploration Expenditures incurred by Quartz in relation to the ZNT Project subsequent to December 31, 2012. Upon satisfaction of the Conditions set
out in Section 6 above and the satisfaction of the Galaxie Condition set out in Section 7 above and whether or not Amarc has elected to exercise the Galaxie Option, Amarc agrees to fund 60% of Exploration Expenditures incurred by Quartz in relation
to the Galaxie Project subsequent to December 31, 2012 The maximum aggregate amount of the Exploration Expenditures incurred by Quartz on the Projects that Amarc will reimburse Quartz for at such 60% reimbursement rate shall be $250,000.

General 

	
11. 		
This Agreement, together with the Letter Agreement constitute the entire agreement between the Parties and replaces and supersedes all prior agreements, memoranda, correspondence, communications, negotiations and representations,
whether verbal or written, express or implied, statutory or otherwise between the Parties with respect to the subject matter herein.

	
	 	 
	
12. 		
This Agreement is conclusively deemed to be made under, and for all purposes, to be governed by and construed in accordance with, the laws of the Province of British Columbia and the federal laws of Canada applicable therein.

	
	 	 
	
13. 		
Unless amended by the terms and conditions of this Agreement, the terms and conditions of the Letter Agreement shall remain unchanged and continue to be in full force and effect.

	
	 	 
	
14. 		
All defined terms used in this Agreement shall, unless otherwise indicated, have the meanings ascribed thereto in the Letter Agreement.

	
	 	 
	
15. 		
This Agreement may be executed in any number of counterparts, each of which will be deemed to be an original and all of which taken together will be deemed to constitute one and the same instrument.

	
	 	 
	
16. 		
Delivery of an executed signature page to this Agreement by either Party by electronic transmission will be as effective as delivery of a manually executed copy of the Agreement by such Party.

	

3 

If the foregoing is acceptable to you, please sign in the space provided below and return a copy of this Agreement to us by 5:00 PM (PDT) on June 27, 2013, failing which this offer will lapse and be of no further force or effect. 

Yours faithfully, 

AMARC RESOURCES LTD. 

Per: 

______________________________

Diane Nicolson 

Executive Vice-President 

The terms and conditions of the Joint Venture outlined herein are acceptable. 

Accepted by:

QUARTZ MOUNTAIN RESOURCES LTD.

Per: 

_______________________________

Lena Brommeland 

Executive Vice-President

 

Date: ___________________________

Place: __________________________

4

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00224-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00224-of-00352.parquet"}]]