X. XXXXX XXXXXX
Senior Vice President - Administration
General Counsel
National Propane
Suite 1700, IES Tower
000 0xx Xxxxxx XX
Xxxxx Xxxxxx, XX 00000-0000
(000) 000-0000
(000) 000-0000 Fax
March 19, 1998
Xxxxxx X. Xxxxxxxxxx
0000 00xx Xxxxxx, XX
Xxxxx Xxxxxx, XX 00000
Dear Xxx:
This will serve to amend your employment agreement dated as of March 11, 1997,
to confirm that as of November 1, 1997, you will no longer serve as Senior Vice
President - Chief Financial Officer, but have been promoted to the position of
President and Chief Operating Officer of National Propane Corporation, the
general partner of National Propane Partners, L.P. You will report to the Board
of Directors and your initial base salary will be $215,000 per year, with an
annual incentive of $161,250/cycle target (75% of salary) and mid-term cash
incentive of $86,000 per target (40% of salary). Except as set forth herein, all
the terms and conditions of the March 11, 1997 letter agreement continue in full
force and effect.
Best regards,
/s/ X. Xxxxx Xxxxxx
National Propane Corporation
By its Senior Vice President of Admin.
Agreed and Accepted
/s/ Xxxxxx X. Xxxxxxxxxx
--------------------------
Xxxxxx X. Xxxxxxxxxx
Dated: March 19, 1998
