SEC Contract Filing

Filing Date: 2019-12-06

Document Content:
<DOCUMENT>
<TYPE>EX-10.34
<SEQUENCE>3
<FILENAME>fgp-20191031ex10345302d.htm
<DESCRIPTION>EX-10.34
<TEXT>
<!--HTML document created with Toppan Merrill Bridge 9.4.0.81-->
<!--Created on: 12/6/2019 6:43:48 AM-->
<html>
	<head>
 <title>
 fgp_Ex10_34
 </title>
	</head>
	<body><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;">
 <p style="margin:0pt 0pt 12pt;text-align:right;font-family:Times New Roman,Times,serif;font-size: 12pt;">
 <font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;font-size:12pt;">Exhibit&nbsp;10.34</font>
 </p>
 <p style="margin:0pt 0pt 12pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 12pt;">
 <font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;font-size:12pt;">INDEMNIFICATION AGREEMENT</font>
 </p>
 <p style="margin:0pt 0pt 12pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
 <font style="display:inline;font-family:Times New Roman,Times,serif;font-size:12pt;">THIS INDEMNIFICATION AGREEMENT (the &#x201C;</font><font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;font-size:12pt;">Agreement</font><font style="display:inline;font-family:Times New Roman,Times,serif;font-size:12pt;">&#x201D;) is made and entered into as of November ___, 2019 between FERRELLGAS PARTNERS, LP, a Delaware limited partnership (the &#x201C;</font><font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;font-size:12pt;">Company</font><font style="display:inline;font-family:Times New Roman,Times,serif;font-size:12pt;">&#x201D;), and ________________ (&#x201C;</font><font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;font-size:12pt;">Indemnitee</font><font style="display:inline;font-family:Times New Roman,Times,serif;font-size:12pt;">&#x201D;).</font>
 </p>
 <p style="margin:0pt 0pt 12pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 12pt;">
 <font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;font-size:12pt;text-decoration:underline;">RECITALS</font><font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;font-size:12pt;">:</font>
 </p>
 <p style="margin:0pt 0pt 12pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
 <font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;font-size:12pt;">WHEREAS</font><font style="display:inline;font-family:Times New Roman,Times,serif;font-size:12pt;">, highly competent persons have become more reluctant to serve business enterprises as directors or officers or in other executive or management capacities, including serving as a director, officer or agent for the general partner of a limited partnership, unless they are provided with adequate protection through insurance or indemnification against inordinate risks of claims and actions against them arising out of their service to and activities on behalf of the business enterprise;</font>
 </p>
 <p style="margin:0pt 0pt 12pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
 <font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;font-size:12pt;">WHEREAS</font><font style="display:inline;font-family:Times New Roman,Times,serif;font-size:12pt;">, Ferrellgas, Inc., a Delaware corporation that is the sole general partner of the Partnership (the &#x201C;</font><font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;font-size:12pt;">GP</font><font style="display:inline;font-family:Times New Roman,Times,serif;font-size:12pt;">&#x201D;) has determined that, in order to attract and retain qualified individuals to provide services on behalf of the Partnership, the Partnership will attempt to maintain on an ongoing basis, at its sole expense, liability insurance to protect persons serving the Partnership and its affiliates from certain liabilities.&nbsp;&nbsp;Although the maintenance of such insurance has been a customary and widespread practice among United States-based business enterprises, the Partnership believes that, given current market conditions and trends, such insurance may be available to it in the future only at higher premiums and with more exclusions.&nbsp;&nbsp;At the same time, directors, officers, and other persons in service to business enterprises are being increasingly subjected to expensive and time-consuming litigation relating to, among other things, matters that traditionally would have been brought only against the business enterprise itself.&nbsp;&nbsp;Section 6.7 of the Fifth Amended and Restated Agreement of Limited Partnership of the Partnership ("LPA") requires indemnification of the officers and directors of the Partnership and of the GP.&nbsp;&nbsp;Section 6.7 of the LPA expressly provides that the indemnification provisions set forth therein are not exclusive, and thereby contemplate that contracts may be entered into between the Partnership and persons such as the Indemnitee with respect to indemnification;</font>
 </p>
 <p style="margin:0pt 0pt 12pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
 <font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;font-size:12pt;">WHEREAS</font><font style="display:inline;font-family:Times New Roman,Times,serif;font-size:12pt;">, the uncertainties relating to such insurance and to indemnification have increased the difficulty of attracting and retaining such persons;</font>
 </p>
 <p style="margin:0pt 0pt 12pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-