<SEC-DOCUMENT>0001193125-21-028892.txt : 20210204
<SEC-HEADER>0001193125-21-028892.hdr.sgml : 20210204
<ACCEPTANCE-DATETIME>20210204163825
ACCESSION NUMBER:		0001193125-21-028892
CONFORMED SUBMISSION TYPE:	S-8
PUBLIC DOCUMENT COUNT:		5
FILED AS OF DATE:		20210204
DATE AS OF CHANGE:		20210204
EFFECTIVENESS DATE:		20210204

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			UGI CORP /PA/
		CENTRAL INDEX KEY:			0000884614
		STANDARD INDUSTRIAL CLASSIFICATION:	GAS & OTHER SERVICES COMBINED [4932]
		IRS NUMBER:				232668356
		STATE OF INCORPORATION:			PA
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		S-8
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-252734
		FILM NUMBER:		21591722

	BUSINESS ADDRESS:	
		STREET 1:		460 N GULPH RD
		STREET 2:		P O BOX 858
		CITY:			KING OF PRUSSIA
		STATE:			PA
		ZIP:			19406
		BUSINESS PHONE:		6103371000

	MAIL ADDRESS:	
		STREET 1:		460 NORTH GULPH ROAD
		CITY:			KING OF PRUSSIA
		STATE:			PA
		ZIP:			19406

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	NEW UGI CORP
		DATE OF NAME CHANGE:	19600201
</SEC-HEADER>
<DOCUMENT>
<TYPE>S-8
<SEQUENCE>1
<FILENAME>d12597ds8.htm
<DESCRIPTION>S-8
<TEXT>
<HTML><HEAD>
<TITLE>S-8</TITLE>
</HEAD>
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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Registration
No.&nbsp;333-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>As filed with the Securities and Exchange Commission on February&nbsp;4, 2021 </B></P>
<P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>UNITED STATES </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>WASHINGTON, D.C. 20549 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>FORM <FONT
STYLE="white-space:nowrap">S-8</FONT> </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>REGISTRATION STATEMENT </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B><I>UNDER </I></B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B><I>THE
SECURITIES ACT OF 1933 </I></B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:24pt; font-family:Times New Roman" ALIGN="center"><B>UGI Corporation </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(Exact
Name of Registrant as Specified in its Charter) </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>

<TD WIDTH="50%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="48%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" ALIGN="center"><B>Pennsylvania</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B><FONT STYLE="white-space:nowrap">23-2668356</FONT></B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="top" ALIGN="center"><B>(State or Other Jurisdiction<BR>of Incorporation)</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>(I.R.S. Employer<BR>Identification No.)</B></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>460 North Gulph Road, King of Prussia, PA 19406 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Address of Principal Executive Offices) (Zip Code) </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>UGI CORPORATION 2021 INCENTIVE AWARD PLAN </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Full Title of the Plan) </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Monica M. Gaudiosi, Esq. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Vice President, General Counsel and Secretary </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>UGI Corporation </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>460
North Gulph Road </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>King of Prussia, PA 19406 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(610) <FONT STYLE="white-space:nowrap">337-1000</FONT> </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Name and Address and Telephone Number, Including Area Code, of Agent for Service) </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><I>Copy to: </I></B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Ryan
J. Maierson </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Kevin M. Richardson </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Latham&nbsp;&amp; Watkins LLP </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>811 Main Street, Suite 3700 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Houston, TX 77002 </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(713) <FONT
STYLE="white-space:nowrap">546-5400</FONT> </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Indicate by check mark whether
the registrant is a large accelerated filer, an accelerated filer, a <FONT STYLE="white-space:nowrap">non-accelerated</FONT> filer, or a smaller reporting company. See the definitions of &#147;large accelerated filer,&#148; &#147;accelerated
filer&#148; and &#147;smaller reporting company&#148; in Rule <FONT STYLE="white-space:nowrap">12b-2</FONT> of the Securities Exchange Act of 1934, as amended (the &#147;Exchange Act&#148;). </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>

<TD WIDTH="20%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="54%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="21%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="2%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">Large&nbsp;accelerated&nbsp;filer</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&#9746;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Accelerated&nbsp;filer</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&#9744;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">Non-accelerated filer</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&#9744;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Smaller&nbsp;reporting&nbsp;company</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&#9744;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">Emerging&nbsp;growth&nbsp;company</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&#9744;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period
for complying with any new or revised financial accounting standards provided pursuant to Section&nbsp;7(a)(2)(B) of the Securities Act of 1933, as amended (the &#147;Securities Act&#148;).&nbsp;&nbsp;&#9744; </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>CALCULATION OF REGISTRATION FEE </B></P> <P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:8pt" ALIGN="center">


<TR>

<TD WIDTH="44%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="13%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="13%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="13%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="13%"></TD></TR>


<TR STYLE="font-size:1px; ">
<TD COLSPAN="9" VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-TOP:1px solid #000000"><B>Title of securities<BR>to be registered</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="BORDER-TOP:1px solid #000000"><B>Amount<BR>to be<BR>registered<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="BORDER-TOP:1px solid #000000"><B>Proposed<BR>maximum<BR>offering price<BR>per share<SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP></B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="BORDER-TOP:1px solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Proposed<BR>maximum</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>aggregate<BR>offering price<SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP></B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="BORDER-TOP:1px solid #000000"><B>Amount of<BR>registration fee</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-TOP:1px solid #000000"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Common Stock, without par value</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="BORDER-TOP:1px solid #000000">20,500,000</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="BORDER-TOP:1px solid #000000">$35.85</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="BORDER-TOP:1px solid #000000">$734,925,000.00</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="BORDER-TOP:1px solid #000000">$80,180.32</TD></TR>
<TR STYLE="font-size:1px; ">
<TD COLSPAN="9" VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1px; ">
<TD COLSPAN="9" VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD></TR>
</TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(1)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Represents shares of common stock, without par value (the &#147;Common Stock&#148;), of UGI Corporation (the
&#147;Registrant&#148;) reserved for issuance pursuant to the UGI Corporation 2021 Incentive Award Plan (as amended from time to time, the &#147;Plan&#148;). Pursuant to Rule 416(a) under the Securities Act, this Registration Statement shall be
deemed to cover an indeterminate number of additional shares of Common Stock that may become issuable under the Plan as a result of stock splits, stock dividends or similar transactions. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(2)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">The proposed maximum offering price per share and the proposed maximum aggregate offering price of the Common
Stock being registered hereby have been estimated solely for purposes of calculating the registration fee pursuant to Rule 457(c) and (h)&nbsp;under the Securities Act based on the average of the high and low prices for a share of Common Stock as
reported on the New York Stock Exchange (the &#147;NYSE&#148;) on February&nbsp;3, 2021. </P></TD></TR></TABLE> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>
</DIV></Center>


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<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>EXPLANATORY NOTE </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Registrant has prepared this Registration Statement in accordance with the requirements of Form
<FONT STYLE="white-space:nowrap">S-8</FONT> under the Securities Act to register 20,500,000 shares of Common Stock available for issuance under the Plan. </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>PART I </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>INFORMATION
REQUIRED IN THE SECTION 10(A) PROSPECTUS </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Registrant will provide participants in the Plan with the document(s) containing the
information required by Part I of Form <FONT STYLE="white-space:nowrap">S-8,</FONT> as specified in Rule 428(b)(1) promulgated by the Securities and Exchange Commission (the &#147;Commission&#148;) under the Securities Act. In accordance with the
rules and regulations of the Commission, the Registrant has not filed such document(s) with the Commission, but such documents (along with the documents incorporated by reference into this Registration Statement pursuant to Item 3 of Part II
hereof), taken together, constitute a prospectus that meets the requirements of Section&nbsp;10(a) of the Securities Act. The Registrant shall maintain a file of such documents in accordance with the provisions of Rule 428(a)(2) of the Securities
Act. Upon request, the Registrant shall furnish to the Commission or its staff a copy or copies of all of the documents included in such file. </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>PART II </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>INFORMATION
REQUIRED IN THE REGISTRATION STATEMENT </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="10%" VALIGN="top" ALIGN="left"><B>Item&nbsp;3.</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Incorporation of Documents by Reference. </B></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Except to the extent that information is deemed furnished and not filed pursuant to securities laws and regulations, the following documents
have been filed by the Registrant with the Commission and are incorporated by reference into this Registration Statement and will be deemed to be a part hereof: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(a)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">The Registrant&#146;s Annual Report on <A HREF="http://www.sec.gov/Archives/edgar/data/../../../ix?doc=/Archives/edgar/data/884614/000088461420000052/ugi-20200930.htm">Form
 <FONT STYLE="white-space:nowrap">10-K</FONT></A> (File <FONT STYLE="white-space:nowrap">No.&nbsp;001-11071)</FONT> for the fiscal year ended September&nbsp;30, 2020, filed with the Commission on November 20, 2020; </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(b)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">The Registrant&#146;s Quarterly Report on <A HREF="http://www.sec.gov/Archives/edgar/data/../../../ix?doc=/Archives/edgar/data/884614/000088461421000011/ugi-20201231.htm">Form
 <FONT STYLE="white-space:nowrap">10-Q</FONT></A> (File <FONT STYLE="white-space:nowrap">No.&nbsp;001-11071)</FONT> for the fiscal quarter ended December&nbsp;31, 2020, filed with the Commission on February&nbsp;4, 2021; </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(c)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">The Registrant&#146;s Current Reports on Form <FONT STYLE="white-space:nowrap">8-K</FONT> (File <FONT
STYLE="white-space:nowrap">No.&nbsp;
001-11071)</FONT> filed with the Commission on <A HREF="http://www.sec.gov/Archives/edgar/data/../../../ix?doc=/Archives/edgar/data/884614/000088461420000054/ugi-20201120.htm">November 24, 2020</A> and <A HREF="http://www.sec.gov/Archives/edgar/data/../../../ix?doc=/Archives/edgar/data/884614/000088461421000006/ugi-20210129.htm">February&nbsp;3,
 2021</A>; and </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(d)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">The description of the Common Stock contained in the Registrant&#146;s registration statement on Form <FONT
STYLE="white-space:nowrap">8-B,</FONT> dated March&nbsp;23, 1992, as amended by Amendment No.&nbsp;1 to Form <FONT STYLE="white-space:nowrap">8-B,</FONT> dated April 10, 1992, and Amendment No.&nbsp;2 to Form
<FONT STYLE="white-space:nowrap">8-B</FONT> dated April&nbsp;17, 1996, and any amendments or reports filed after the date hereof for the purpose of updating such description. </P></TD></TR></TABLE>
</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always">
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Except to the extent that information is deemed furnished and not filed pursuant to
securities laws and regulations, all documents filed with the Commission by the Registrant pursuant to Sections 13(a), 13(c), 14 or 15(d) of the Exchange Act and all reports on Form <FONT STYLE="white-space:nowrap">8-K</FONT> subsequent to the date
hereof and prior to the filing of a post-effective amendment that indicates that all securities offered have been sold or that deregisters all securities then remaining unsold shall also be deemed to be incorporated by reference herein and to be a
part hereof from the dates of filing of such documents. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Any statement contained in a document incorporated or deemed to be incorporated
by reference herein shall be deemed to be modified or superseded for purposes of this Registration Statement to the extent that a statement contained herein or in any other subsequently filed document that also is or is deemed to be incorporated by
reference herein modifies or supersedes such statement. Any statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this Registration Statement. </P>
<P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="10%" VALIGN="top" ALIGN="left"><B>Item&nbsp;4.</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Description of Securities. </B></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Not applicable. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="10%" VALIGN="top" ALIGN="left"><B>Item&nbsp;5.</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Interests of Named Experts and Counsel. </B></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Not applicable. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="10%" VALIGN="top" ALIGN="left"><B>Item&nbsp;6.</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Indemnification of Directors and Officers. </B></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;1741 of the Pennsylvania Business Corporation Law of 1988 (the &#147;Business Corporation Law&#148;) provides that a business
corporation may indemnify directors and officers against expenses (including attorney&#146;s fees), judgments, fines and amounts paid in settlement actually and reasonably incurred by him or her in connection with any threatened, pending or
completed action or proceeding (other than an action by or in the right of the corporation), provided that the person in question acted in good faith and in a manner he or she reasonably believed to be in, or not opposed to, the best interests of
the corporation and, with respect to any criminal proceeding, had no reasonable cause to believe his or her conduct was unlawful. Section&nbsp;1742 provides that a business corporation may indemnify its directors and officers solely against expenses
(including attorneys&#146; fees) if the action or proceeding is by or in the right of the corporation. In addition, Section&nbsp;1742 states that indemnification shall not be made if the person has been adjudged to be liable to the corporation
unless and only to the extent it is judicially determined upon application that, despite the adjudication of liability but in view of all of the circumstances of the case, the person is fairly and reasonably entitled to indemnification for certain
expenses. Section&nbsp;1743 requires a corporation to indemnify its directors and officers against expenses they may incur in defending actions against them in such capacities if they are successful on the merits or otherwise in the defense of such
actions. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;1713 of the Business Corporation Law permits the shareholders to adopt a bylaw provision relieving a director (but
not an officer) of personal liability for monetary damages except where (i)&nbsp;the director has breached or failed to perform the duties of such office under applicable law, and (ii)&nbsp;such conduct constitutes self-dealing, willful misconduct
or recklessness. This section also provides that a director may not be relieved of liability for the payment of taxes pursuant to any federal, state or local law or of responsibility or liability under a criminal statute. Section&nbsp;4.01 of the
Bylaws of UGI Corporation, amended and restated as of July&nbsp;25, 2017 (the &#147;Bylaws&#148;) limits the liability of any director to the fullest extent permitted by Section&nbsp;1713 of the Business Corporation Law. Section&nbsp;1746 of the
Business Corporation Law grants a corporation broad authority to indemnify its directors, officers and other agents for liabilities and expenses incurred in such capacity, except in circumstances where the act or failure to act giving rise to the
claim for indemnification is determined by a court to have constituted willful misconduct or recklessness. Article VII of the Bylaws provides for indemnification of directors, officers and other agents to the extent otherwise permitted by
Section&nbsp;1741 of the Business Corporation Law and pursuant to the authority of Section&nbsp;1746 of the Business Corporation Law. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Article VII of the Bylaws provides, except as expressly prohibited by law or as a result of a final arbitration decision under
Section&nbsp;7.06 of the Bylaws, an unconditional right to indemnification for expenses and any liability paid or incurred by any of the Registrant&#146;s directors or officers, or any other person designated by the Board of Directors of UGI
Corporation (the &#147;Board&#148;) as an indemnified representative, in connection with any actual or threatened claim, action, suit or proceeding (including derivative suits) in which he or she may be involved by reason of being or having been a
director, officer, employee or agent of us, or, at the Registrant&#146;s request, of another corporation, partnership, joint venture, trust, employee benefit plan or other entity. The Bylaws specifically authorize indemnification against both
judgments and amounts paid in settlement of derivative suits. Article VII of the Bylaws also allows indemnification for punitive damages and liabilities incurred under federal securities laws. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">2 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always">
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Unlike the provisions of Business Corporation Law Sections 1741 and 1742, Article VII does
not require us to determine the availability of indemnification by the procedures or the standard of conduct specified in Sections 1741 and 1742 of the Business Corporation Law. A person who has incurred an indemnifiable expense or liability has a
right to be indemnified independent of any procedures or determinations that otherwise would be required, and that right is enforceable against us as long as indemnification is not prohibited by law or a final arbitration decision. To the extent
indemnification is permitted only for a portion of a liability, the Bylaw provisions require the Registrant to indemnify such portion. If the indemnification provided for in Article VII is unavailable for any reason in respect of any liability or
portion thereof, the Bylaws require the Registrant to make a contribution toward the liability. Indemnification rights under the Bylaws do not depend upon the approval of any future Board. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;7.03 of the Bylaws requires us to pay the expenses (including attorneys&#146; fees and disbursements) incurred in good faith by a
director or officer in specified circumstances upon receipt of an undertaking by or on behalf of him or her to repay the amount if it is ultimately determined pursuant to Section&nbsp;7.06 of the Bylaws that he or she is not entitled to be
indemnified by us pursuant to Article VII. Section&nbsp;7.04 of the Bylaws authorizes the Registrant to further effect or secure its indemnification obligations by entering into indemnification agreements, maintaining insurance, acting as
self-insurer, creating a trust fund, granting a security interest in its assets or property, establishing a letter of credit or using any other means that may be available from time to time. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;5.01(c) of the Bylaws limits the personal liability of our officers to us and our shareholders for monetary damages for any
action taken, or any failure to take action, unless the officer has breached or failed to perform the applicable duties of his or her office and the breach or failure to perform constitutes self-dealing, willful misconduct or recklessness.
Section&nbsp;5.01(c), however, does not apply to the responsibility or liability of an officer pursuant to any criminal statute or for the payment of taxes pursuant to local, state or federal law. </P>
<P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="10%" VALIGN="top" ALIGN="left"><B>Item&nbsp;7.</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Exemption from Registration Claimed. </B></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Not applicable. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="10%" VALIGN="top" ALIGN="left"><B>Item&nbsp;8.</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Exhibits. </B></P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD WIDTH="92%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Exhibit<BR>Number</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Description</B></P></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>&nbsp;&nbsp;4.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="http://www.sec.gov/Archives/edgar/data/884614/000089322005001873/w11244exv3w1.txt">(Second) Amended and Restated Articles of Incorporation of the Registrant, as amended through June&nbsp;
6, 2005 (incorporated by reference to Exhibit 3.1 to the Quarterly Report on Form <FONT STYLE="white-space:nowrap">10-Q</FONT> for the quarter ended June&nbsp;30, 2005). </A></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>&nbsp;&nbsp;4.2</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="http://www.sec.gov/Archives/edgar/data/884614/000129993314001194/exhibit1.htm">Articles of Amendment to the Amended and Restated Articles of Incorporation of UGI Corporation (incorporated by reference to Exhibit 3.1 to the Current
 Report on Form <FONT STYLE="white-space:nowrap">8-K</FONT> dated July&nbsp;29, 2014). </A></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>&nbsp;&nbsp;4.3</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="http://www.sec.gov/Archives/edgar/data/884614/000129993317000782/exhibit1.htm">Bylaws of UGI Corporation, amended and restated as of July&nbsp;
25, 2017 (incorporated by reference to Exhibit 3.1 to the Current Report on Form <FONT STYLE="white-space:nowrap">8-K</FONT> dated July&nbsp;31, 2017). </A></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>&nbsp;&nbsp;4.4*</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="d12597dex44.htm">UGI Corporation 2021 Incentive Award Plan </A></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>&nbsp;&nbsp;5.1*</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="d12597dex51.htm">Opinion of Jessica A. Milner, Deputy General Counsel and Assistant Secretary of UGI Corporation, as to the legality of the securities being registered. </A></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>23.1*</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="d12597dex231.htm">Consent of Ernst&nbsp;&amp; Young LLP. </A></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>23.2*</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="d12597dex51.htm">Consent of Jessica A. Milner (included in Exhibit 5.1). </A></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>24.1*</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="#tx12597_1sig">Power of Attorney (included as part of the signature pages to this Registration Statement).</A></TD></TR>
</TABLE> <P STYLE="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:11%">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">*</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Filed herewith. </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="10%" VALIGN="top" ALIGN="left"><B>Item&nbsp;9.</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Undertakings. </B></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="9%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(a)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">The undersigned Registrant hereby undertakes: </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="13%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(1)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">To file, during any period in which offers or sales are being made, a post-effective amendment to this
Registration Statement: </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="18%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(i)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">to include any prospectus required by Section&nbsp;10(a)(3) of the Securities Act; </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="18%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(ii)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">to reflect in the prospectus any facts or events arising after the effective date of the Registration Statement
(or the most recent post-effective amendment thereof) which, individually or in the aggregate, </P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">3 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always">
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="22%">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">
represent a fundamental change in the information set forth in the Registration Statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total
dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the Commission pursuant to Rule
424(b) if, in the aggregate, the changes in volume and price represent no more than a 20&nbsp;percent change in the maximum aggregate offering price set forth in the &#147;Calculation of Registration Fee&#148; table in the effective registration
statement; and </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="18%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(iii)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">to include any material information with respect to the plan of distribution not previously disclosed in the
Registration Statement or any material change to such information in the Registration Statement; <I>provided, however,</I> that paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if the information required to be included in a post-effective amendment
by those paragraphs is contained in periodic reports filed with or furnished to the Commission by the Registrant pursuant to Section&nbsp;13 or Section&nbsp;15(d) of the Exchange Act that are incorporated by reference in this Registration Statement.
</P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="13%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(2)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">That, for the purpose of determining any liability under the Securities Act, each such post-effective amendment
shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial <I>bona fide</I> offering thereof. </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="13%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(3)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">To remove from registration by means of a post-effective amendment any of the securities being registered which
remain unsold at the termination of the offering. </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="9%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(b)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">The undersigned Registrant hereby undertakes that, for purposes of determining any liability under the
Securities Act, each filing of the Registrant&#146;s Annual Report pursuant to Section&nbsp;13(a) or Section&nbsp;15(d) of the Exchange Act (and, where applicable, each filing of an employee benefit plan&#146;s annual report pursuant to
Section&nbsp;15(d) of the Exchange Act) that is incorporated by reference in the Registration Statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time
shall be deemed to be the initial <I>bona fide</I> offering thereof. </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="9%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(c)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors,
officers and controlling persons of the Registrant pursuant to the foregoing provisions, or otherwise, the Registrant has been advised that in the opinion of the Commission such indemnification is against public policy as expressed in the Securities
Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the Registrant of expenses incurred or paid by a director, officer or controlling person of the Registrant in the
successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the Registrant will, unless in the opinion of its counsel the matter has been
settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.
</P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">4 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="tx12597_1sig"></A>SIGNATURES </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Pursuant to the requirements of the Securities Act of 1933, as amended, the registrant certifies that it has reasonable grounds to believe
that it meets all of the requirements for filing on Form <FONT STYLE="white-space:nowrap">S-8</FONT> and has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in King of Prussia,
Pennsylvania, on February&nbsp;4, 2021. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


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<TD VALIGN="bottom" WIDTH="1%"></TD>
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<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">Registrant:</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>UGI CORPORATION, a Pennsylvania corporation</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">/s/ Ted J. Jastrzebski</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">Name:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Ted J. Jastrzebski</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">Title:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Chief Financial Officer</TD></TR>
</TABLE></DIV> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Each person whose signature appears below hereby appoints Ted J. Jastrzebski, John L. Walsh and Monica
M. Gaudiosi, and each of them acting individually, as his or her true and lawful <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">attorneys-in-fact,</FONT></FONT> with full power of substitution and resubstitution, with the
authority to execute in the name of each such person, and to file with the Commission, together with any exhibits thereto and other documents therewith, any and all amendments to this registration statement (including post-effective amendments and
all other related documents) necessary or advisable to enable the registrant to comply with the Securities Act, and any rules, regulations and requirements of the Commission in respect thereof, which amendments may make such changes in the
registration statement as the aforesaid <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">attorney-in-fact</FONT></FONT> executing the same deems appropriate. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Pursuant to the requirements of the Securities Act of 1933, this registration statement has been signed below by the following persons in the
capacities indicated on February&nbsp;4, 2021. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


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<TD WIDTH="16%"></TD></TR>
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<TD VALIGN="bottom" NOWRAP ALIGN="center"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; display:table-cell; font-size:8pt; font-family:Times New Roman; " ALIGN="center"><B>Name</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; display:table-cell; font-size:8pt; font-family:Times New Roman; " ALIGN="center"><B>Position</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; display:table-cell; font-size:8pt; font-family:Times New Roman; " ALIGN="center"><B>Date</B></P></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">/s/ John L. Walsh</TD>
<TD VALIGN="bottom" ROWSPAN="2">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ROWSPAN="2">President and Chief Executive Officer <BR>(Principal Executive Officer) and Director</TD>
<TD VALIGN="bottom" ROWSPAN="2">&nbsp;</TD>
<TD VALIGN="middle" ROWSPAN="2" ALIGN="center">February&nbsp;4, 2021</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">John L. Walsh</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">/s/ Ted J. Jastrzebski</TD>
<TD VALIGN="bottom" ROWSPAN="2">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ROWSPAN="2">Chief Financial Officer (Principal Financial Officer)</TD>
<TD VALIGN="bottom" ROWSPAN="2">&nbsp;</TD>
<TD VALIGN="middle" ROWSPAN="2" ALIGN="center">February&nbsp;4, 2021</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Ted J. Jastrzebski</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">/s/ Laurie A. Bergman</TD>
<TD VALIGN="bottom" ROWSPAN="2">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ROWSPAN="2">Vice President &#150; Chief Accounting Officer and Corporate Controller (Principal Accounting Officer)</TD>
<TD VALIGN="bottom" ROWSPAN="2">&nbsp;</TD>
<TD VALIGN="middle" ROWSPAN="2" ALIGN="center">February&nbsp;4, 2021</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Laurie A. Bergman</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">/s/ Frank S. Hermance</TD>
<TD VALIGN="bottom" ROWSPAN="2">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ROWSPAN="2">Chairman and Director</TD>
<TD VALIGN="bottom" ROWSPAN="2">&nbsp;</TD>
<TD VALIGN="middle" ROWSPAN="2" ALIGN="center">February&nbsp;4, 2021</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Frank S. Hermance</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">/s/ M. Shawn Bort</TD>
<TD VALIGN="bottom" ROWSPAN="2">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ROWSPAN="2">Director</TD>
<TD VALIGN="bottom" ROWSPAN="2">&nbsp;</TD>
<TD VALIGN="middle" ROWSPAN="2" ALIGN="center">February&nbsp;4, 2021</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">M. Shawn Bort</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">/s/ Theodore A. Dosch</TD>
<TD VALIGN="bottom" ROWSPAN="2">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ROWSPAN="2">Director</TD>
<TD VALIGN="bottom" ROWSPAN="2">&nbsp;</TD>
<TD VALIGN="middle" ROWSPAN="2" ALIGN="center">February&nbsp;4, 2021</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Theodore A. Dosch</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">/s/ Alan N. Harris</TD>
<TD VALIGN="bottom" ROWSPAN="2">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ROWSPAN="2">Director</TD>
<TD VALIGN="bottom" ROWSPAN="2">&nbsp;</TD>
<TD VALIGN="middle" ROWSPAN="2" ALIGN="center">February&nbsp;4, 2021</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Alan N. Harris</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">/s/ Mario Longhi</TD>
<TD VALIGN="bottom" ROWSPAN="2">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ROWSPAN="2">Director</TD>
<TD VALIGN="bottom" ROWSPAN="2">&nbsp;</TD>
<TD VALIGN="middle" ROWSPAN="2" ALIGN="center">February&nbsp;4, 2021</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Mario Longhi</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">/s/ William J. Marrazzo</TD>
<TD VALIGN="bottom" ROWSPAN="2">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ROWSPAN="2">Director</TD>
<TD VALIGN="bottom" ROWSPAN="2">&nbsp;</TD>
<TD VALIGN="middle" ROWSPAN="2" ALIGN="center">February&nbsp;4, 2021</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">William J. Marrazzo</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">/s/ Cindy J. Miller</TD>
<TD VALIGN="bottom" ROWSPAN="2">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ROWSPAN="2">Director</TD>
<TD VALIGN="bottom" ROWSPAN="2">&nbsp;</TD>
<TD VALIGN="middle" ROWSPAN="2" ALIGN="center">February&nbsp;4, 2021</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Cindy J. Miller</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">/s/ Kelly A. Romano</TD>
<TD VALIGN="bottom" ROWSPAN="2">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ROWSPAN="2">Director</TD>
<TD VALIGN="bottom" ROWSPAN="2">&nbsp;</TD>
<TD VALIGN="middle" ROWSPAN="2" ALIGN="center">February&nbsp;4, 2021</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Kelly A. Romano</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">/s/ James B. Stallings, Jr.</TD>
<TD VALIGN="bottom" ROWSPAN="2">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ROWSPAN="2">Director</TD>
<TD VALIGN="bottom" ROWSPAN="2">&nbsp;</TD>
<TD VALIGN="middle" ROWSPAN="2" ALIGN="center">February&nbsp;4, 2021</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">James B. Stallings, Jr.</TD></TR>
</TABLE>
</DIV></Center>

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<DOCUMENT>
<TYPE>EX-4.4
<SEQUENCE>2
<FILENAME>d12597dex44.htm
<DESCRIPTION>EX-4.4
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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="right"><B><A NAME="toc32094_39"></A>Exhibit 4.4 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="center"><B>UGI CORPORATION </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="center"><B>2021 INCENTIVE AWARD PLAN </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE I. </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="center"><B>PURPOSE
</B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">The purpose of the Plan is to provide designated Employees, Consultants and <FONT STYLE="white-space:nowrap">Non-Employee</FONT>
Directors with the opportunity to receive Awards hereunder in order to encourage such individuals to contribute materially to the growth of the Company, thereby benefiting the Company&#146;s shareholders, and to more closely<B> </B>align the
economic interests of such individuals with those of the Company&#146;s shareholders. Capitalized terms used in the Plan are defined in Article II. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE II. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="center"><B>DEFINITIONS </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">As used
in the Plan, the following words and phrases will have the following meanings: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">2.1&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B><I>Administrator</I></B>&#148; means the Board or a Committee to the extent that the Board&#146;s powers
or authority under the Plan have been delegated to such Committee. Notwithstanding anything herein to the contrary, the full Board, acting by a majority of its members in office, shall conduct the general administration of the Plan with respect to
Awards granted to <FONT STYLE="white-space:nowrap">Non-Employee</FONT> Directors and, with respect to such Awards, the term &#147;Administrator&#148; as used in the Plan shall mean and refer to the Board. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">2.2&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B><I>Applicable Laws</I></B>&#148; means the requirements relating to the administration of equity
incentive plans under U.S. federal and state securities, tax and other applicable laws, rules and regulations, the applicable rules of any stock exchange or quotation system on which the Common Stock is listed or quoted and the applicable laws and
rules of any foreign country or other jurisdiction where Awards are granted. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">2.3&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B><I>Award</I></B>&#148;
means, individually or collectively, a grant under the Plan of Options, Stock Appreciation Rights, Restricted Stock, Restricted Stock Units, Performance Units, Dividend Equivalents, or Other Stock or Cash Based Awards. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">2.4&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B><I>Award Agreement</I></B>&#148; means a written agreement evidencing an Award, which may be electronic,
that contains such terms and conditions as the Administrator determines, consistent with and subject to the terms and conditions of the Plan. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">2.5&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B><I>Board</I></B>&#148; means the Board of Directors of the Company. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">2.6&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B><I>Change in Control</I></B>&#148; means and includes each of the following: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:4%; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">(a)&nbsp;&nbsp;&nbsp;&nbsp;A transaction or series of transactions (other than an offering of Common Stock to the general
public through a registration statement filed with the Securities and Exchange Commission or a transaction or series of transactions that meets the requirements of clauses (i)&nbsp;and (ii) of subsection (c)&nbsp;below) whereby any
&#147;person&#148; or related &#147;group&#148; of &#147;persons&#148; (as such terms are used in Sections 13(d) and 14(d)(2) of the Exchange Act) (other than the Company, any of its Subsidiaries, an employee benefit plan maintained by the Company
or any of its Subsidiaries or a &#147;person&#148; that, prior to such transaction, directly or indirectly controls, is controlled by, or is under common control with, the Company) directly or indirectly acquires beneficial ownership (within the
meaning of Rule <FONT STYLE="white-space:nowrap">13d-3</FONT> under the Exchange Act) of securities of the Company possessing more than 50% of the total combined voting power of the Company&#146;s securities outstanding immediately after such
acquisition; or </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:4%; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">(b)&nbsp;&nbsp;&nbsp;&nbsp;During any period of twenty-four consecutive months, individuals who, at the
beginning of such period, constitute the Board together with any new director(s) (other than a director designated by a person who shall have entered into an agreement with the Company to effect a transaction described in
</P>
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subsections (a)&nbsp;or (c)) whose election by the Board or nomination for election by the Company&#146;s shareholders was approved by a vote of at least
<FONT STYLE="white-space:nowrap">two-thirds</FONT> of the directors then still in office who either were directors at the beginning of the twenty-four-month period or whose election or nomination for election was previously so approved, cease for
any reason to constitute a majority thereof; or </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:4%; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">(c)&nbsp;&nbsp;&nbsp;&nbsp;The consummation by the Company (whether
directly involving the Company or indirectly involving the Company through one or more intermediaries) of (x)&nbsp;a merger, consolidation, reorganization, or business combination or (y)&nbsp;a sale or other disposition of all or substantially all
of the Company&#146;s assets in any single transaction or series of related transactions or (z)&nbsp;the acquisition of assets or stock of another entity, in each case other than a transaction: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:10%; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">(i)&nbsp;&nbsp;&nbsp;&nbsp;which results in the Company&#146;s voting securities outstanding immediately before the
transaction continuing to represent (either by remaining outstanding or by being converted into voting securities of the Company or the person that, as a result of the transaction, controls, directly or indirectly, the Company or owns, directly or
indirectly, all or substantially all of the Company&#146;s assets or otherwise succeeds to the business of the Company (the Company or such person, the &#147;<B><I>Successor Entity</I></B>&#148;)) directly or indirectly, at least a majority of the
combined voting power of the Successor Entity&#146;s outstanding voting securities immediately after the transaction, and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:10%; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">(ii)&nbsp;&nbsp;&nbsp;&nbsp;after which no person or group beneficially owns voting securities representing 50% or more of
the combined voting power of the Successor Entity; <U>provided</U>, <U>however</U>, that no person or group shall be treated for purposes of this clause (ii)&nbsp;as beneficially owning 50% or more of the combined voting power of the Successor
Entity solely as a result of the voting power held in the Company prior to the consummation of the transaction. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">Notwithstanding the
foregoing, if a Change in Control constitutes a payment event with respect to any Award (or portion of any Award) that provides for the deferral of compensation that is subject to Section&nbsp;409A, to the extent required to avoid the imposition of
additional taxes under Section&nbsp;409A, the transaction or event described in subsection (a), (b) or (c)&nbsp;with respect to such Award (or portion thereof) shall only constitute a Change in Control for purposes of the payment timing of such
Award if such transaction also constitutes a &#147;change in control event,&#148; as defined in Treasury Regulation <FONT STYLE="white-space:nowrap">Section&nbsp;1.409A-3(i)(5).</FONT> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">The Administrator shall have full and final authority, which shall be exercised in its discretion, to determine conclusively whether a
Change in Control has occurred pursuant to the above definition, the date of the occurrence of such Change in Control and any incidental matters relating thereto; provided that any exercise of authority in conjunction with a determination of whether
a Change in Control is a &#147;change in control event&#148; as defined in Treasury Regulation <FONT STYLE="white-space:nowrap">Section&nbsp;1.409A-3(i)(5)</FONT> shall be consistent with such regulation. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">2.7&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B><I>Code</I></B>&#148; means the Internal Revenue Code of 1986, as amended, and the regulations issued
thereunder. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">2.8&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B><I>Committee</I></B>&#148; means one or more committees or subcommittees of the Board,
which may include one or more Company directors or executive officers, to the extent Applicable Laws permit. To the extent required by Applicable Laws, each member of the Committee will be an &#147;independent director&#148;. In addition, to the
extent required to comply with the provisions of Rule <FONT STYLE="white-space:nowrap">16b-3,</FONT> it is intended that each member of the Committee will be, at the time the Committee takes any action with respect to an Award that is subject to
Rule <FONT STYLE="white-space:nowrap">16b-3,</FONT> a <FONT STYLE="white-space:nowrap">&#147;non-employee</FONT> director&#148; within the meaning of Rule <FONT STYLE="white-space:nowrap">16b-3;</FONT> however, a Committee member&#146;s failure to
qualify as a <FONT STYLE="white-space:nowrap">&#147;non-employee</FONT> director&#148; within the meaning of Rule <FONT STYLE="white-space:nowrap">16b-3</FONT> will not invalidate any Award granted by the Committee that is otherwise validly granted
under the Plan. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">2.9&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B><I>Common Stock</I></B>&#148; means the common stock of the Company. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">2.10&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B><I>Company</I></B>&#148; means UGI Corporation, a Pennsylvania corporation, or any successor. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">2.11&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B><I>Consultant</I></B>&#148; means any person, including any adviser, engaged by the Company or any of
its Subsidiaries to render services to such entity. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">2 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">2.12&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B><I>Designated Beneficiary</I></B>&#148; means the
beneficiary or beneficiaries the Participant designates, in a manner the Administrator determines, to receive amounts due or exercise the Participant&#146;s rights if the Participant dies or becomes incapacitated. Without a Participant&#146;s
effective designation, &#147;Designated Beneficiary&#148; will mean the Participant&#146;s estate. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">2.13&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B><I>Dividend Equivalents</I></B>&#148; means a right granted to a Participant under the Plan to receive
the equivalent value (in cash or Shares) of dividends paid on Shares. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">2.14&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B><I>Employee</I></B>&#148;
means any employee of the Company or its Subsidiaries. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">2.15&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B><I>Equity Restructuring</I></B>&#148;
means, as determined by the Administrator, a <FONT STYLE="white-space:nowrap">non-reciprocal</FONT> transaction between the Company and its shareholders, such as a stock dividend, stock split, <FONT STYLE="white-space:nowrap">spin-off</FONT> or
recapitalization through a large, nonrecurring cash dividend, or other large, nonrecurring cash dividend, that affects the Shares (or other securities of the Company) or the share price of Common Stock (or other securities of the Company) and causes
a change in the per share value of the Common Stock underlying outstanding Awards. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">2.16&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B><I>Exchange
Act</I></B>&#148; means the Securities Exchange Act of 1934, as amended. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">2.17&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B><I>Fair Market
Value</I></B>&#148; means, as of any date, the value of a share of Common Stock determined as follows: (a)&nbsp;if the Common Stock is listed on any established stock exchange, its Fair Market Value will be the closing sales price for such Common
Stock as quoted on such exchange for such date, or if no sale occurred on such date, the last day preceding such date during which a sale occurred, as reported in <I>The Wall Street Journal</I> or another source the Administrator deems reliable;
(b)&nbsp;if the Common Stock is not traded on a stock exchange but is quoted on a national market or other quotation system, the closing sales price on such date, or if no sales occurred on such date, then on the last date preceding such date during
which a sale occurred, as reported in <I>The Wall Street Journal </I>or another source the Administrator deems reliable; or (c)&nbsp;without an established market for the Common Stock, the Administrator will determine the Fair Market Value in its
discretion. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">2.18&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B><I>Greater Than 10% Shareholder</I></B>&#148; means an individual then owning (within
the meaning of Section&nbsp;424(d) of the Code) more than 10% of the total combined voting power of all classes of stock of the Company or its parent or subsidiary corporation, as defined in Section&nbsp;424(e) and (f)&nbsp;of the Code,
respectively. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">2.19&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B><I>Incentive Stock Option</I></B>&#148; means an Option intended to qualify as an
&#147;incentive stock option&#148; as defined in Section&nbsp;422 of the Code. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">2.20&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B><I><FONT
STYLE="white-space:nowrap">Non-Employee</FONT></I></B> <B><I>Director</I></B>&#148; means a member of the Board who is not an Employee. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">2.21&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B><I><FONT STYLE="white-space:nowrap">Non-Qualified</FONT> Stock Option</I></B>&#148; means an Option, or
portion thereof, not intended or not qualifying as an Incentive Stock Option. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">2.22&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B><I>Option</I></B>&#148; means an option to purchase Shares, which will either be an Incentive Stock
Option or a <FONT STYLE="white-space:nowrap">Non-Qualified</FONT> Stock Option. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">2.23&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B><I>Other Stock or
Cash Based Awards</I></B>&#148; means cash awards, awards of Shares, and other awards valued wholly or partially by referring to, or are otherwise based on, Shares or other property awarded to a Participant under Section&nbsp;8.1. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">2.24&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B><I>Overall Share Limit</I></B>&#148; means 20.5&nbsp;million Shares. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">2.25&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B><I>Participant</I></B>&#148; means an Employee, Consultant, or
<FONT STYLE="white-space:nowrap">Non-Employee</FONT> Director who has been granted an Award. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">3 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">2.26&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B><I>Performance Unit</I></B>&#148; means an unfunded,
unsecured right to receive, on the applicable settlement date, one Share or an amount in cash or other consideration determined by the Administrator to be of equal value as of such settlement date awarded to a Participant under Article VII subject
to certain performance-based vesting conditions and other restrictions. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">2.27&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B><I>Plan</I></B>&#148;
means this 2021 Incentive Award Plan. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">2.28&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B><I>Prior Plan</I></B>&#148; means the 2013 Omnibus Incentive
Compensation Plan, as amended. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">2.29&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B><I>Prior Plan Award</I></B>&#148; means an award outstanding under
the Prior Plan as of the Effective Date. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">2.30&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B><I>Restricted Stock</I></B>&#148; means Shares awarded to
a Participant under Article VII subject to certain vesting conditions and other restrictions. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">2.31&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B><I>Restricted Stock Unit</I></B>&#148; means an unfunded, unsecured right to receive, on the applicable
settlement date, one Share or an amount in cash or other consideration determined by the Administrator to be of equal value as of such settlement date awarded to a Participant under Article VII subject to certain vesting conditions and other
restrictions. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">2.32&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B><I>Rule <FONT STYLE="white-space:nowrap">16b-3</FONT></I></B>&#148; means Rule <FONT
STYLE="white-space:nowrap">16b-3</FONT> promulgated under the Exchange Act. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">2.33&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B><I>Section</I></B><B><I></I></B><B><I>&nbsp;409A</I></B>&#148; means Section&nbsp;409A of the Code and
all regulations, guidance, compliance programs and other interpretative authority thereunder. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">2.34&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B><I>Section</I></B><B><I></I></B><B><I>&nbsp;16 Persons</I></B>&#148; means those officers, directors or
other persons who are subject to Section&nbsp;16 of the Exchange Act. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">2.35&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B><I>Securities
Act</I></B>&#148; means the Securities Act of 1933, as amended. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">2.36&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B><I>Shares</I></B>&#148; means
shares of Common Stock. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">2.37&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B><I>Stock Appreciation Right</I></B>&#148; means a stock appreciation right
granted under Article VI. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">2.38&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B><I>Subsidiary</I></B>&#148; means any entity (other than the Company),
whether domestic or foreign, in an unbroken chain of entities beginning with the Company if each of the entities other than the last entity in the unbroken chain beneficially owns, at the time of the determination, securities or interests
representing at least 50% of the total combined voting power of all classes of securities or interests in one of the other entities in such chain. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">2.39&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B><I>Substitute Awards</I></B>&#148; means Awards granted or Shares issued by the Company in assumption
of, or in substitution or exchange for, awards previously granted, or the right or obligation to make future awards, in each case by a company acquired by the Company or any Subsidiary or with which the Company or any Subsidiary combines. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">2.40&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B><I>Termination of Service</I></B>&#148; means the date the Participant ceases to be an Employee,
Consultant or <FONT STYLE="white-space:nowrap">Non-Employee</FONT> Director. The Administrator, in its sole discretion, shall determine all matters and questions relating to a Termination of Services, including, without limitation, whether and when
a Termination of Service has occurred and whether a change in status as an Employee, Consultant or <FONT STYLE="white-space:nowrap">Non-Employee</FONT> Director or a particular leave of absence constitutes a Termination of Service; provided,
however, that unless otherwise determined by the Administrator, a Termination of Service shall not be deemed to occur in the event of a termination where there is simultaneous commencement or continuation by the Participant of the Participant&#146;s
status as an Employee, Consultant or <FONT STYLE="white-space:nowrap">Non-Employee</FONT> Director (as applicable) with the Company or a Subsidiary thereof. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE III. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="center"><B>ELIGIBILITY </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">Employees, Consultants, and <FONT STYLE="white-space:nowrap">Non-Employee</FONT> Directors are eligible to be granted Awards under the Plan,
subject to the limitations described herein. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE IV. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="center"><B>ADMINISTRATION AND DELEGATION </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">4.1&nbsp;&nbsp;&nbsp;&nbsp;<U>Administration</U>.&nbsp;&nbsp;&nbsp;&nbsp;The Plan is administered by the Administrator. The Administrator
has authority to determine which Employees, Consultants and <FONT STYLE="white-space:nowrap">Non-Employee</FONT> Directors receive Awards, grant Awards and set Award terms and conditions, subject to the conditions and limitations in the Plan. The
Administrator also has the authority to take all actions and make all determinations under the Plan, to interpret the Plan and Award Agreements and to adopt, amend and repeal Plan administrative rules, guidelines and practices as it deems advisable.
The Administrator may correct defects and ambiguities, supply omissions and reconcile inconsistencies in the Plan or any Award Agreement as it deems necessary or appropriate to administer the Plan and any Awards. The Administrator&#146;s
determinations under the Plan are in its sole discretion and will be final and binding on all persons having or claiming any interest in the Plan or any Award. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">4.2&nbsp;&nbsp;&nbsp;&nbsp;<U>Appointment of Committees</U>.&nbsp;&nbsp;&nbsp;&nbsp;To the extent Applicable Laws permit, the Board or the
Administrator may delegate any or all of its powers under the Plan to one or more Committees or committees of officers of the Company or any of its Subsidiaries; provided, that, any such officer delegation shall exclude the power to grant Awards to <FONT
STYLE="white-space:nowrap">Non-Employee</FONT> Directors or Section&nbsp;16 Persons. The Board or the Administrator, as applicable, may rescind any such delegation, abolish any such committee or Committee and/or
<FONT STYLE="white-space:nowrap">re-vest</FONT> in itself any previously delegated authority at any time. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE V. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="center"><B>STOCK AVAILABLE FOR AWARDS </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">5.1&nbsp;&nbsp;&nbsp;&nbsp;<U>Number of Shares</U>.&nbsp;&nbsp;&nbsp;&nbsp;Subject to adjustment under Article IX and the terms of this
Article V, the maximum number of Shares that may be issued pursuant to Awards under the Plan shall be equal to the Overall Share Limit. Any Shares issued pursuant to Options or Stock Appreciation Rights shall be counted against the Overall Share
Limit as one (1)&nbsp;Share for every Share subject thereto. Any Shares issued pursuant to any Award other than an Option or Stock Appreciation Right shall be counted against the Overall Share Limit as 3.00 Shares for every Share subject thereto. As
of the Effective Date, the Company will cease granting awards under the Prior Plan; however, Prior Plan Awards will remain subject to the terms of the applicable Prior Plan. Shares issued under the Plan may consist of authorized but unissued Shares,
Shares purchased on the open market or treasury Shares. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">5.2&nbsp;&nbsp;&nbsp;&nbsp;<U>Share Recycling</U>.&nbsp;&nbsp;&nbsp;&nbsp;If
all or any part of an Award expires, lapses or is terminated, exchanged for or settled in cash, surrendered, repurchased, canceled without having been fully exercised or forfeited, in any case, in a manner that results in the Company acquiring
Shares covered by the Award at a price not greater than the price (as adjusted to reflect any Equity Restructuring) paid by the Participant for such Shares or not issuing any Shares covered by the Award, the unused Shares covered by the Award will,
as applicable, become or again be available for Award grants under the Plan (with any such Share added to the Overall Share Limit as one (1)&nbsp;Share if such Share was subject to an Option or Stock Appreciation Right and as 3.00 Shares if such
Share was subject to an Award other than an Option or Stock Appreciation Right). The payment of Dividend Equivalents in cash in conjunction with any outstanding Awards shall not count against the Overall Share Limit. Notwithstanding anything to the
contrary contained herein, the following Shares shall not be added to the Shares authorized for grant under Section&nbsp;5.1 and shall not be available for future grants of Awards: (i)&nbsp;Shares subject to a Stock Appreciation Right that are not
issued in connection with the stock settlement of the Stock Appreciation Right on exercise thereof; (ii)&nbsp;Shares purchased on the open market with the cash proceeds from the exercise of Options; and (iii)&nbsp;Shares delivered (either by actual
delivery or attestation) to the Company by a Participant to satisfy the applicable exercise or purchase price of an Award and/or to satisfy any applicable tax withholding obligation with respect to an Award (including Shares retained by the Company
from the Award being exercised or purchased and/or creating the tax obligation). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">5.3&nbsp;&nbsp;&nbsp;&nbsp;<U>Incentive Stock Option
Limitations.</U>&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding anything to the contrary herein, the maximum aggregate number of Shares that may be issued pursuant to the exercise of Incentive Stock Options shall be equal to the Overall Share Limit. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">5.4&nbsp;&nbsp;&nbsp;&nbsp;<U>Substitute Awards</U>.&nbsp;&nbsp;&nbsp;&nbsp;In connection
with an entity&#146;s merger or consolidation with the Company or any Subsidiary or the Company&#146;s or any Subsidiary&#146;s acquisition of an entity&#146;s property or stock, the Administrator may grant Awards in substitution for any options or
other stock or stock-based awards granted before such merger or consolidation by such entity or its affiliate. Substitute Awards may be granted on such terms as the Administrator deems appropriate, notwithstanding limitations on Awards in the Plan.
Substitute Awards will not count against the Overall Share Limit (nor shall Shares subject to a Substitute Award be added to the Shares available for Awards under the Plan as provided above), except that Shares acquired by exercise of substitute
Incentive Stock Options will count against the maximum number of Shares that may be issued pursuant to the exercise of Incentive Stock Options under the Plan. Additionally, in the event that a company acquired by the Company or any Subsidiary or
with which the Company or any Subsidiary combines has shares available under a <FONT STYLE="white-space:nowrap">pre-existing</FONT> plan approved by shareholders and not adopted in contemplation of such acquisition or combination, the shares
available for grant pursuant to the terms of such <FONT STYLE="white-space:nowrap">pre-existing</FONT> plan (as adjusted, to the extent appropriate, using the exchange ratio or other adjustment or valuation ratio or formula used in such acquisition
or combination to determine the consideration payable to the holders of common stock of the entities party to such acquisition or combination) may be used for Awards under the Plan and shall not reduce the Shares authorized for grant under the Plan
(and Shares subject to such Awards shall not be added to the Shares available for Awards under the Plan as provided above); provided that Awards using such available shares shall not be made after the date awards or grants could have been made under
the terms of the <FONT STYLE="white-space:nowrap">pre-existing</FONT> plan, absent the acquisition or combination, and shall only be made to individuals who were not Employees, Consultants or <FONT STYLE="white-space:nowrap">Non-Employee</FONT>
Directors prior to such acquisition or combination. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">5.5&nbsp;&nbsp;&nbsp;&nbsp;<U><FONT STYLE="white-space:nowrap">Non-Employee</FONT>
Director Compensation</U>.&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding any provision to the contrary in the Plan, the Administrator may establish compensation for <FONT STYLE="white-space:nowrap">Non-Employee</FONT> Directors from time to time, subject
to the limitations in the Plan. The sum of any cash compensation, or other compensation, and the value (determined as of the grant date in accordance with Financial Accounting Standards Board Accounting Standards Codification Topic 718, or any
successor thereto) of Awards granted to a <FONT STYLE="white-space:nowrap">Non-Employee</FONT> Director as compensation for services as a <FONT STYLE="white-space:nowrap">Non-Employee</FONT> Director during any calendar year may not exceed
$1,000,000 (the &#147;<B><I><FONT STYLE="white-space:nowrap">Non-Employee</FONT> Director Limit</I></B>&#148;). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">5.6&nbsp;&nbsp;&nbsp;&nbsp;<U>Individual Award Limits</U>.&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding any provision to the contrary in the Plan,
and subject to Article IX, the maximum aggregate number of Shares with respect to one or more Awards that may be granted to any one person during any twelve (12)-month period shall be 2,250,000 Shares (of which (a)&nbsp;a maximum of 1,500,000 Shares
may be subject to Awards of Options or Stock Appreciation Rights, and (b)&nbsp;a maximum of 1,500,000 Shares may be subject to Awards of Restricted Stock, Restricted Stock Units, Performance Units or Other Stock or Cash Based Awards), and the
maximum aggregate amount of cash that may be paid to any one person during any twelve (12)-month period with respect to one or more Awards payable in cash shall be $5,000,000.&nbsp;&nbsp;&nbsp;&nbsp;The maximum aggregate value of Dividend
Equivalents accruing with respect to any one person during any twelve (12)-month period shall be $1,000,000. The individual Award limits set forth in this Section&nbsp;5.6 are referred to herein as the &#147;<B><I>Individual Award
Limits</I></B>&#148;. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">5.7&nbsp;&nbsp;&nbsp;&nbsp;<U>Award Vesting Limitations</U>.&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding any other
provision of the Plan to the contrary, no Award Agreement shall provide for vesting of the Award thereunder earlier than the first (1<SUP STYLE="font-size:85%; vertical-align:top">st</SUP>) anniversary of the applicable grant date or, with respect
to any such Award subject to performance-based vesting, based on an applicable performance period that is shorter than one (1)&nbsp;year; provided, however, that, notwithstanding the foregoing, Awards that result in the issuance of no more than five
percent (5%) of the Shares reserved for issuance under the Plan pursuant to Section&nbsp;5.1 above may be granted to any one or more Participants without respect to such minimum vesting requirements (the &#147;<B><I>5% Allowance</I></B>&#148;). For
clarity, (a)&nbsp;for purposes of determining the 5% Allowance, each Share subject to an Award shall be counted as one (1)&nbsp;Share and (b)&nbsp;any Awards to <FONT STYLE="white-space:nowrap">Non-Employee</FONT> Directors that do not comply with
the minimum vesting requirements set forth in this Section&nbsp;5.7 shall be counted as part of the 5% Allowance. For purposes of Awards granted to <FONT STYLE="white-space:nowrap">Non-Employee</FONT> Directors, a vesting period will be deemed to be
one (1)&nbsp;year if it runs from the date of one annual meeting of the Company&#146;s shareholders to the next annual meeting of the Company&#146;s shareholders. Notwithstanding the foregoing, a Award Agreement may provide for the accelerated
vesting, exercisability and/or payment (as applicable) of any Award upon the termination of the applicable Participant&#146;s status as an </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">
Employee, Consultant or <FONT STYLE="white-space:nowrap">Non-Employee</FONT> Director due to the Participant&#146;s death, disability, retirement or involuntary termination without cause and/or
in connection with the consummation of a Change of Control. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE VI. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="center"><B>STOCK OPTIONS AND STOCK APPRECIATION RIGHTS </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">6.1&nbsp;&nbsp;&nbsp;&nbsp;<U>General</U>.&nbsp;&nbsp;&nbsp;&nbsp;The Administrator may grant Options or Stock Appreciation Rights to
Employees, Consultants and <FONT STYLE="white-space:nowrap">Non-Employee</FONT> Directors subject to the limitations in the Plan, including any limitations in the Plan that apply to Incentive Stock Options. A Stock Appreciation Right will entitle
the Participant (or other person entitled to exercise the Stock Appreciation Right) to receive from the Company upon exercise of the exercisable portion of the Stock Appreciation Right an amount determined by multiplying the excess, if any, of the
Fair Market Value of one Share on the date of exercise over the exercise price per Share of the Stock Appreciation Right by the number of Shares with respect to which the Stock Appreciation Right is exercised, subject to any limitations of the Plan
or that the Administrator may impose and payable in cash, Shares valued at Fair Market Value or a combination of the two as the Administrator may determine or provide in the Award Agreement. No dividends or Dividend Equivalents shall be payable with
respect to Options or Stock Appreciation Rights. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">6.2&nbsp;&nbsp;&nbsp;&nbsp;<U>Exercise Price</U>.&nbsp;&nbsp;&nbsp;&nbsp;The
Administrator will establish each Option&#146;s and Stock Appreciation Right&#146;s exercise price and specify the exercise price in the Award Agreement. The exercise price will not be less than 100% of the Fair Market Value on the grant date of the
Option (subject to Section&nbsp;6.6) or Stock Appreciation Right.&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding the foregoing, in the case of an Option or a Stock Appreciation Right that is a Substitute Award, the exercise price per share of the Shares
subject to such Option or Stock Appreciation Right, as applicable, may be less than the Fair Market Value per share on the date of grant; provided that the exercise price of any Substitute Award shall be determined in accordance with the applicable
requirements of Sections 424 and 409A of the Code. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">6.3&nbsp;&nbsp;&nbsp;&nbsp;<U>Duration</U>.&nbsp;&nbsp;&nbsp;&nbsp;Each Option or
Stock Appreciation Right will be exercisable at such times and as specified in the Award Agreement, provided that, subject to Section&nbsp;6.6, the term of an Option or Stock Appreciation Right will not exceed ten years. Notwithstanding the
foregoing and unless determined otherwise by the Administrator, in the event that on the last business day of the term of an Option or Stock Appreciation Right (other than an Incentive Stock Option)&nbsp;(i) the exercise of the Option or Stock
Appreciation Right is prohibited by Applicable Law, as determined by the Administrator, or (ii)&nbsp;Shares may not be purchased or sold by the applicable Participant due to any Company insider trading policy (including blackout periods) or a <FONT
STYLE="white-space:nowrap">&#147;lock-up&#148;</FONT> agreement undertaken in connection with an issuance of securities by the Company, the term of the Option or Stock Appreciation Right shall be extended until the date that is 30 days after the end
of the legal prohibition, <FONT STYLE="white-space:nowrap">black-out</FONT> period or <FONT STYLE="white-space:nowrap">lock-up</FONT> agreement, as determined by the Administrator; provided, however, in no event shall the extension last beyond the
ten year term of the applicable Option or Stock Appreciation Right. Notwithstanding the foregoing, to the extent permitted under Applicable Laws, if the Participant, prior to the end of the term of an Option or Stock Appreciation Right, violates the
<FONT STYLE="white-space:nowrap">non-competition,</FONT> <FONT STYLE="white-space:nowrap">non-solicitation,</FONT> confidentiality or other similar restrictive covenant provisions of any employment contract, confidentiality and nondisclosure
agreement or other agreement between the Participant and the Company or any of its Subsidiaries, the right of the Participant and the Participant&#146;s transferees to exercise any Option or Stock Appreciation Right issued to the Participant shall
terminate immediately upon such violation, unless the Administrator otherwise determines. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">6.4&nbsp;&nbsp;&nbsp;&nbsp;<U>Exercise</U>.&nbsp;&nbsp;&nbsp;&nbsp;Options and Stock Appreciation Rights may be exercised by delivering to
the Company a written notice of exercise, in a form the Administrator approves (which may be electronic), signed by the person authorized to exercise the Option or Stock Appreciation Right, or in accordance with such other exercise procedures as may
be determined by the Administrator from time to time, together with, as applicable, payment in full (i)&nbsp;as specified in Section&nbsp;6.5 for the number of Shares for which the Award is exercised and (ii)&nbsp;as specified in Section&nbsp;10.5
for any applicable taxes. Unless the Administrator otherwise determines, an Option or Stock Appreciation Right may not be exercised for a fraction of a Share. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">7 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">6.5.&nbsp;&nbsp;&nbsp;&nbsp;<U>Payment Upon Exercise</U>.&nbsp;&nbsp;&nbsp;&nbsp;Subject
to Section&nbsp;11.8, any Company insider trading policy (including blackout periods) and Applicable Laws, the exercise price of an Option must be paid by: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:4%; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">(a)&nbsp;&nbsp;&nbsp;&nbsp;cash, wire transfer of immediately available funds or by check payable to the order of the
Company, provided that the Company may limit the use of one of the foregoing payment forms if one or more of the payment forms below is permitted; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:4%; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">(b)&nbsp;&nbsp;&nbsp;&nbsp;if there is a public market for Shares at the time of exercise, unless the Administrator
otherwise determines, (A)&nbsp;delivery (including electronically or telephonically to the extent permitted by the Administrator) of an irrevocable and unconditional undertaking by a broker acceptable to the Company to deliver promptly to the
Company sufficient funds to pay the exercise price, or (B)&nbsp;the Participant&#146;s delivery to the Company of a copy of irrevocable and unconditional instructions to a broker acceptable to the Company to deliver promptly to the Company cash or a
check sufficient to pay the exercise price; provided that such amount is paid to the Company at such time as may be required by the Administrator; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:4%; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">(c)&nbsp;&nbsp;&nbsp;&nbsp;to the extent permitted by the Administrator, delivery (either by actual delivery or attestation)
of Shares owned by the Participant valued at their Fair Market Value </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:4%; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">(d)&nbsp;&nbsp;&nbsp;&nbsp;to the extent permitted
by the Administrator, a &#147;net exercise&#148; by surrendering Shares then issuable upon the Option&#146;s exercise valued at their Fair Market Value on the exercise date; or </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:4%; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">(e)&nbsp;&nbsp;&nbsp;&nbsp;to the extent permitted by the Administrator, any combination of the above payment forms approved
by the Administrator. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">6.6&nbsp;&nbsp;&nbsp;&nbsp;<U>Additional Terms of Incentive Stock Options</U>.&nbsp;&nbsp;&nbsp;&nbsp;The
Administrator may grant Incentive Stock Options only to employees of the Company, any of its present or future parent or subsidiary corporations, as defined in Sections 424(e) or (f)&nbsp;of the Code, respectively, and any other entities the
employees of which are eligible to receive Incentive Stock Options under the Code. If an Incentive Stock Option is granted to a Greater Than 10% Shareholder, the exercise price will not be less than 110% of the Fair Market Value on the Option&#146;s
grant date, and the term of the Option will not exceed five years. All Incentive Stock Options will be subject to and construed consistently with Section&nbsp;422 of the Code. By accepting an Incentive Stock Option, the Participant agrees to give
prompt notice to the Company of dispositions or other transfers (other than in connection with a Change in Control) of Shares acquired under the Option made within (i)&nbsp;two years from the grant date of the Option or (ii)&nbsp;one year after the
transfer of such Shares to the Participant, specifying the date of the disposition or other transfer and the amount the Participant realized, in cash, other property, assumption of indebtedness or other consideration, in such disposition or other
transfer. Neither the Company nor the Administrator will be liable to a Participant, or any other party, if an Incentive Stock Option fails or ceases to qualify as an &#147;incentive stock option&#148; under Section&nbsp;422 of the Code. Any
Incentive Stock Option or portion thereof that fails to qualify as an &#147;incentive stock option&#148; under Section&nbsp;422 of the Code for any reason, including becoming exercisable with respect to Shares having a fair market value exceeding
the $100,000 limitation under Treasury Regulation <FONT STYLE="white-space:nowrap">Section&nbsp;1.422-4,</FONT> will be a <FONT STYLE="white-space:nowrap">Non-Qualified</FONT> Stock Option. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE VII. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="center"><B>RESTRICTED STOCK; RESTRICTED STOCK UNITS; PERFORMANCE UNITS </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">7.1&nbsp;&nbsp;&nbsp;&nbsp;<U>General</U>.&nbsp;&nbsp;&nbsp;&nbsp;The Administrator may grant Restricted Stock, or the right to purchase
Restricted Stock, to any Employee, Consultant or <FONT STYLE="white-space:nowrap">Non-Employee</FONT> Director, subject to the Company&#146;s right to repurchase all or part of such Shares at their issue price or other stated or formula price from
the Participant (or to require forfeiture of such Shares) if conditions the Administrator specifies in the Award Agreement are not satisfied before the end of the applicable restriction period or periods that the Administrator establishes for such
Award. In addition, the Administrator may grant to Employees, Consultants and <FONT STYLE="white-space:nowrap">Non-Employee</FONT> Directors Restricted Stock Units and/or Performance Units, which may be subject to vesting (including vesting based on
the attainment of performance criteria) and forfeiture conditions during the applicable restriction period or periods, as set forth in an Award Agreement. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">8 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">7.2&nbsp;&nbsp;&nbsp;&nbsp;<U>Restricted Stock</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:4%; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">(a)&nbsp;&nbsp;&nbsp;&nbsp;<U>Dividends</U>.&nbsp;&nbsp;&nbsp;&nbsp;Participants holding Shares of Restricted Stock will be
entitled to all ordinary cash dividends paid with respect to such Shares, unless the Administrator provides otherwise in the Award Agreement. In addition, unless the Administrator provides otherwise, if any dividends or distributions are paid in
Shares, or consist of a dividend or distribution to holders of Common Stock of property other than an ordinary cash dividend, the Shares or other property will be subject to the same restrictions on transferability and forfeitability as the Shares
of Restricted Stock with respect to which they were paid. Notwithstanding anything to the contrary herein, with respect to any award of Restricted Stock, dividends which are paid to holders of Common Stock prior to vesting shall only be paid out to
the Participant holding such Restricted Stock to the extent that the vesting conditions are subsequently satisfied. All such dividend payments will be made no later than March&nbsp;15 of the calendar year following the calendar year in which the
right to the dividend payment becomes nonforfeitable. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:4%; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">(b)&nbsp;&nbsp;&nbsp;&nbsp;<U>Stock
Certificates</U>.&nbsp;&nbsp;&nbsp;&nbsp;The Company may require that the Participant deposit in escrow with the Company (or its designee) any stock certificates issued in respect of Shares of Restricted Stock, together with a stock power endorsed
in blank. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">7.3&nbsp;&nbsp;&nbsp;&nbsp;<U>Restricted Stock Units</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:4%; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">(a)&nbsp;&nbsp;&nbsp;&nbsp;<U>Settlement</U>.&nbsp;&nbsp;&nbsp;&nbsp;The Administrator may provide that settlement of
Restricted Stock Units will occur upon or as soon as reasonably practicable after the Restricted Stock Units vest or will instead be deferred, on a mandatory basis or at the Participant&#146;s election, in a manner intended to comply with
Section&nbsp;409A (if applicable). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:4%; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">(b)&nbsp;&nbsp;&nbsp;&nbsp;<U>Shareholder Rights</U>.&nbsp;&nbsp;&nbsp;&nbsp;A
Participant will have no rights of a shareholder with respect to Shares subject to any Restricted Stock Unit unless and until the Shares are delivered in settlement of the Restricted Stock Unit. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">7.4&nbsp;&nbsp;&nbsp;&nbsp;<U>Performance Units</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:4%; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">(a)&nbsp;&nbsp;&nbsp;&nbsp;<U>Settlement</U>.&nbsp;&nbsp;&nbsp;&nbsp;Each Performance Unit represents the right to receive a
Share or an amount based on the value of a Share if specified performance goals and other terms and conditions, including vesting conditions, are met. The Administrator may provide that settlement of Performance Units will occur upon or as soon as
reasonably practicable after the Performance Units vest or will instead be deferred, on a mandatory basis or at the Participant&#146;s election, in a manner intended to comply with Section&nbsp;409A (if applicable). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:4%; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">(b)&nbsp;&nbsp;&nbsp;&nbsp;<U>Shareholder Rights</U>.&nbsp;&nbsp;&nbsp;&nbsp;A Participant will have no rights of a
shareholder with respect to Shares subject to any Performance Unit unless and until the Shares are delivered in settlement of the Performance Unit. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE VIII. </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="center"><B>OTHER
STOCK OR CASH BASED AWARDS; DIVIDEND EQUIVALENTS </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">8.1&nbsp;&nbsp;&nbsp;&nbsp;<U>Other Stock or Cash Based
Awards</U>.&nbsp;&nbsp;&nbsp;&nbsp;Other Stock or Cash Based Awards may be granted to Participants, including Awards entitling Participants to receive Shares to be delivered in the future and including annual or other periodic or long-term cash
bonus awards (whether based on specified performance criteria or otherwise), in each case subject to any conditions and limitations in the Plan. Such Other Stock or Cash Based Awards will also be available as a payment form in the settlement of
other Awards, as standalone payments and as payment in lieu of compensation to which a Participant is otherwise entitled. Other Stock or Cash Based Awards may be paid in Shares, cash or other property, as the Administrator determines, and such
Awards are subject to such terms and conditions, including vesting terms and conditions, as determined by the Administrator. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">8.2&nbsp;&nbsp;&nbsp;&nbsp;<U>Dividend Equivalents</U>.&nbsp;&nbsp;&nbsp;&nbsp;A grant of Restricted Stock Units, Performance Units, or
Other Stock or Cash Based Award may provide a Participant with the right to receive Dividend Equivalents, and no dividends or </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">9 </P>

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Dividend Equivalents shall be payable with respect to Options or Stock Appreciation Rights. Dividend Equivalents may be paid currently or credited to an account for the Participant, settled in
cash or Shares and subject to the same restrictions on transferability and forfeitability as the Award with respect to which the Dividend Equivalents are paid and subject to other terms and conditions as set forth in the Award Agreement.
Notwithstanding anything to the contrary herein, Dividend Equivalents with respect to an Award shall only paid out to the Participant to the extent that the vesting conditions are subsequently satisfied. All such Dividend Equivalent payments will be
made no later than March&nbsp;15 of the calendar year following the calendar year in which the right to the Dividend Equivalent payment becomes nonforfeitable, unless determined otherwise by the Administrator or unless deferred in a manner intended
to comply with Section&nbsp;409A (if applicable). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE IX. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="center"><B>ADJUSTMENTS FOR CHANGE IN COMMON STOCK </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="center"><B>AND CERTAIN OTHER EVENTS </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">9.1&nbsp;&nbsp;&nbsp;&nbsp;<U>Equity Restructuring</U>.&nbsp;&nbsp;&nbsp;&nbsp;In connection with any Equity Restructuring, notwithstanding
anything to the contrary in this Article IX, the Administrator will equitably adjust each outstanding Award as it deems appropriate to reflect the Equity Restructuring, which may include adjusting the number and type of securities subject to each
outstanding Award and/or the Award&#146;s exercise price or grant price (if applicable), granting new Awards to Participants, and making a cash payment to Participants. The adjustments provided under this Section&nbsp;10.1 will be nondiscretionary
and final and binding on the affected Participant and the Company; provided that the Administrator will determine whether an adjustment is equitable. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">9.2&nbsp;&nbsp;&nbsp;&nbsp;<U>Corporate Transactions</U>.&nbsp;&nbsp;&nbsp;&nbsp;In the event of any dividend or other distribution (whether
in the form of cash, Common Stock, other securities, or other property), reorganization, merger, consolidation, combination, amalgamation, repurchase, recapitalization, liquidation, dissolution, or sale, transfer, exchange or other disposition of
all or substantially all of the assets of the Company, or sale or exchange of Common Stock or other securities of the Company, Change in Control, issuance of warrants or other rights to purchase Common Stock or other securities of the Company, other
similar corporate transaction or event, other unusual or nonrecurring transaction or event affecting the Company or its financial statements or any change in any Applicable Laws or accounting principles, the Administrator, on such terms and
conditions as it deems appropriate, either by the terms of the Award or by action taken prior to the occurrence of such transaction or event (except that action to give effect to a change in Applicable Law or accounting principles may be made within
a reasonable period of time after such change), is hereby authorized to take any one or more of the following actions whenever the Administrator determines that such action is appropriate in order to (x)&nbsp;prevent dilution or enlargement of the
benefits or potential benefits intended by the Company to be made available under the Plan or with respect to any Award granted or issued under the Plan, (y)&nbsp;to facilitate such transaction or event or (z)&nbsp;give effect to such changes in
Applicable Laws or accounting principles: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:4%; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">(a)&nbsp;&nbsp;&nbsp;&nbsp;To provide for the cancellation of any such Award
in exchange for either an amount of cash or other property with a value equal to the amount that could have been obtained upon the exercise or settlement of the vested portion of such Award or realization of the Participant&#146;s rights under the
vested portion of such Award, as applicable; provided that, if the amount that could have been obtained upon the exercise or settlement of the vested portion of such Award or realization of the Participant&#146;s rights, in any case, is equal to or
less than zero, then the Award may be terminated without payment; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:4%; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">(b)&nbsp;&nbsp;&nbsp;&nbsp;To provide that such Award
shall vest and, to the extent applicable, be exercisable as to all Shares covered thereby, notwithstanding anything to the contrary in the Plan or the provisions of such Award; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:4%; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">(c)&nbsp;&nbsp;&nbsp;&nbsp;To provide that such Award be assumed by the successor or survivor corporation, or a parent or
subsidiary thereof, or shall be substituted for by awards covering the stock of the successor or survivor corporation, or a parent or subsidiary thereof, with appropriate adjustments as to the number and kind of shares and/or applicable exercise or
purchase price, in all cases, as determined by the Administrator; </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">(d)&nbsp;&nbsp;&nbsp;&nbsp;To make adjustments in the number and type of
Shares (or other securities or property) subject to outstanding Awards and/or with respect to which Awards may be granted under the Plan (including, but not limited to, adjustments of the limitations in Article V on the maximum number and kind of
shares which may be issued) and/or in the terms and conditions of (including the grant or exercise price or applicable performance goals), and the criteria included in, outstanding Awards; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:4%; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">(e)&nbsp;&nbsp;&nbsp;&nbsp;To replace such Award with other rights or property selected by the Administrator; and/or </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:4%; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">(f)&nbsp;&nbsp;&nbsp;&nbsp;To provide that the Award will terminate and cannot vest, be exercised or become payable after
the applicable event. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">9.3&nbsp;&nbsp;&nbsp;&nbsp;<U>Effect of <FONT STYLE="white-space:nowrap">Non-Assumption</FONT> in a Change in
Control</U>.&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding the provisions of Section&nbsp;9.2, if a Change in Control occurs and a Participant&#146;s Awards are not continued, converted, assumed, or replaced with a substantially similar award by
(a)&nbsp;the Company, or (b)&nbsp;a successor entity or its parent or subsidiary (an &#147;<B><I>Assumption</I></B>&#148;), and provided that the Participant has not had a Termination of Service, then, immediately prior to the Change in Control,
such Awards shall become fully vested, exercisable and/or payable, as applicable, and all forfeiture, repurchase and other restrictions on such Awards shall lapse, in which case, such Awards shall be canceled upon the consummation of the Change in
Control in exchange for the right to receive the Change in Control consideration payable to other holders of Common Stock (i)&nbsp;which may be on such terms and conditions as apply generally to holders of Common Stock under the Change in Control
documents (including, without limitation, any escrow, <FONT STYLE="white-space:nowrap">earn-out</FONT> or other deferred consideration provisions) or such other terms and conditions as the Administrator may provide, and (ii)&nbsp;determined by
reference to the number of Shares subject to such Awards and net of any applicable exercise price; provided that to the extent that any Awards constitute &#147;nonqualified deferred compensation&#148; that may not be paid upon the Change in Control
under Section&nbsp;409A (to the extent applicable to such Award) without the imposition of taxes thereon under Section&nbsp;409A, the timing of such payments shall be governed by the applicable Award Agreement (subject to any deferred consideration
provisions applicable under the Change in Control documents); and provided, further, that if the amount to which the Participant would be entitled upon the settlement or exercise of such Award at the time of the Change in Control is equal to or less
than zero, then such Award may be terminated without payment. The Administrator shall determine whether an Assumption of an Award has occurred in connection with a Change in Control. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">9.4&nbsp;&nbsp;&nbsp;&nbsp;<U>Administrative Stand Still</U>.&nbsp;&nbsp;&nbsp;&nbsp;In the event of any pending stock dividend, stock
split, combination or exchange of shares, merger, consolidation or other distribution (other than normal cash dividends) of Company assets to shareholders, or any other extraordinary transaction or change affecting the Shares or the share price of
Common Stock, including any Equity Restructuring or any securities offering or other similar transaction, for administrative convenience, the Administrator may refuse to permit the exercise of any Award for up to 60 days before or after such
transaction. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">9.5&nbsp;&nbsp;&nbsp;&nbsp;<U>General</U>.&nbsp;&nbsp;&nbsp;&nbsp;Except as expressly provided in the Plan or the
Administrator&#146;s action under the Plan, no Participant will have any rights due to any subdivision or consolidation of Shares of any class, dividend payment, increase or decrease in the number of Shares of any class or dissolution, liquidation,
merger, or consolidation of the Company or other corporation. Except as expressly provided with respect to an Equity Restructuring under Section&nbsp;9.1 or the Administrator&#146;s action under the Plan, no issuance by the Company of Shares of any
class, or securities convertible into Shares of any class, will affect, and no adjustment will be made regarding, the number of Shares subject to an Award or the Award&#146;s grant or exercise price. The existence of the Plan, any Award Agreements
and the Awards granted hereunder will not affect or restrict in any way the Company&#146;s right or power to make or authorize (i)&nbsp;any adjustment, recapitalization, reorganization or other change in the Company&#146;s capital structure or its
business, (ii)&nbsp;any merger, consolidation, dissolution or liquidation of the Company or sale of Company assets or (iii)&nbsp;any sale or issuance of securities, including securities with rights superior to those of the Shares or securities
convertible into or exchangeable for Shares. The Administrator may treat Participants and Awards (or portions thereof) differently under this Article IX. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">11 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE X. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="center"><B>GENERAL PROVISIONS APPLICABLE TO AWARDS </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">10.1&nbsp;&nbsp;&nbsp;&nbsp;<U>Transferability</U>.&nbsp;&nbsp;&nbsp;&nbsp;Except as the Administrator may determine or provide in an Award
Agreement or otherwise for Awards other than Incentive Stock Options, Awards may not be sold, assigned, transferred, pledged or otherwise encumbered, either voluntarily or by operation of law, except for certain beneficiary designations, by will or
the laws of descent and distribution, or, subject to the Administrator&#146;s consent, and, during the life of the Participant, will be exercisable only by the Participant. Any permitted transfer of an Award hereunder shall be without consideration,
except as required by Applicable Law. References to a Participant, to the extent relevant in the context, will include references to a Participant&#146;s authorized transferee that the Administrator specifically approves. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">10.2&nbsp;&nbsp;&nbsp;&nbsp;<U>Documentation</U>.&nbsp;&nbsp;&nbsp;&nbsp;Each Award will be evidenced in an Award Agreement, which may be
written or electronic, as the Administrator determines. The Award Agreement will contain the terms and conditions applicable to an Award. Each Award may contain terms and conditions in addition to those set forth in the Plan. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">10.3&nbsp;&nbsp;&nbsp;&nbsp;<U>Discretion</U>.&nbsp;&nbsp;&nbsp;&nbsp;Except as the Plan otherwise provides, each Award may be made alone or
in addition or in relation to any other Award. The terms of each Award to a Participant need not be identical, and the Administrator need not treat Participants or Awards (or portions thereof) uniformly. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">10.4&nbsp;&nbsp;&nbsp;&nbsp;<U>Termination or Change of Status</U>.&nbsp;&nbsp;&nbsp;&nbsp;The Administrator will determine how an
authorized leave of absence or any other change or purported change in a Participant&#146;s status as an Employee, Consultant and/or <FONT STYLE="white-space:nowrap">Non-Employee</FONT> Director affects an Award and the extent to which, and the
period during which the Participant, the Participant&#146;s legal representative, conservator, guardian or Designated Beneficiary may exercise rights under the Award, if applicable. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">10.5&nbsp;&nbsp;&nbsp;&nbsp;<U>Withholding</U>.&nbsp;&nbsp;&nbsp;&nbsp;Each Participant must pay the Company or a Subsidiary, or make
provision satisfactory to the Administrator for payment of, any taxes required by Applicable Law to be withheld in connection with such Participant&#146;s Awards by the date of the event creating the tax liability. The Company or its Subsidiary may
deduct an amount sufficient to satisfy such tax obligations based on at least the applicable statutory withholding rates (or such other rate as may be determined by the Company or a Subsidiary after considering any accounting consequences or costs)
from any payment of any kind otherwise due to a Participant. In the absence of a contrary determination by the Company or its Subsidiary (or, with respect to withholding pursuant to clause (ii)&nbsp;below with respect to Awards held by individuals
subject to Section&nbsp;16 of the Exchange Act, a contrary determination by the Administrator), all tax withholding obligations will be calculated based on at least the minimum applicable statutory withholding rates; provided, that (to the extent
permitted under Applicable Law) the Administrator may also permit Participants to elect the withholding rates with respect to their Awards. Subject to Section&nbsp;11.8 and any Company insider trading policy (including blackout periods),
Participants may satisfy such tax obligations (i)&nbsp;in cash, by wire transfer of immediately available funds, by check made payable to the order of the Company or a Subsidiary, provided that the Company or such Subsidiary may limit the use of the
foregoing payment forms if one or more of the payment forms below is permitted, (ii)&nbsp;to the extent permitted by the Administrator, in whole or in part by delivery of Shares, including Shares delivered by attestation and Shares retained from the
Award creating the tax obligation, valued at their Fair Market Value on the date of delivery, (iii)&nbsp;if there is a public market for Shares at the time the tax obligations are satisfied, unless the Administrator otherwise determines,
(A)&nbsp;delivery (including electronically or telephonically to the extent permitted by the Administrator) of an irrevocable and unconditional undertaking by a broker acceptable to the Company or a Subsidiary to deliver promptly to the Company or
such Subsidiary sufficient funds to satisfy the tax obligations, or (B)&nbsp;delivery by the Participant to the Company of a copy of irrevocable and unconditional instructions to a broker acceptable to the Company or a Subsidiary to deliver promptly
to the Company or such Subsidiary cash or a check sufficient to satisfy the tax withholding; provided that such amount is paid to the Company or such Subsidiary at such time as may be required by the Administrator, or (iv)&nbsp;to the extent
permitted by the Administrator, any combination of the foregoing payment forms approved by the Administrator. Notwithstanding any other provision of the Plan, the number of Shares which may be so delivered or
</P>
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retained pursuant to clause (ii)&nbsp;of the immediately preceding sentence shall be limited to the number of Shares which have a Fair Market Value on the date of delivery or retention no greater
than the aggregate amount of such liabilities based on at least the minimum statutory tax rate in the applicable jurisdiction at the time of such withholding (or such other rate as may be required to avoid the liability classification of the
applicable Award under generally accepted accounting principles in the United States of America); provided, however, to the extent such Shares were acquired by Participant from the Company as compensation, the Shares must have been held for the
minimum period required by applicable accounting rules to avoid a charge to the Company&#146;s earnings for financial reporting purposes; provided, further, that, any such Shares delivered or retained shall be rounded up to the nearest whole Share
to the extent rounding up to the nearest whole Share does not result in the liability classification of the applicable Award under generally accepted accounting principles in the United States of America. If any tax withholding obligation will be
satisfied under clause (ii)&nbsp;above by the Company&#146;s retention of Shares from the Award creating the tax obligation and there is a public market for Shares at the time the tax obligation is satisfied, the Company may elect to instruct any
brokerage firm determined acceptable to the Company for such purpose to sell on the applicable Participant&#146;s behalf some or all of the Shares retained and to remit the proceeds of the sale to the Company or its designee, and each
Participant&#146;s acceptance of an Award under the Plan will constitute the Participant&#146;s authorization to the Company and instruction and authorization to such brokerage firm to complete the transactions described in this sentence. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">10.6&nbsp;&nbsp;&nbsp;&nbsp;<U>Amendment of Award</U>.&nbsp;&nbsp;&nbsp;&nbsp;The Administrator may amend, modify or terminate any
outstanding Award, including by substituting another Award of the same or a different type, changing the exercise or settlement date, and converting an Incentive Stock Option to a <FONT STYLE="white-space:nowrap">Non-Qualified</FONT> Stock Option.
The Participant&#146;s consent to such action will be required unless (i)&nbsp;the action, taking into account any related action, does not materially and adversely affect the Participant&#146;s rights under the Award, or (ii)&nbsp;the change is
permitted under Article IX or pursuant to Section&nbsp;11.6. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">10.7&nbsp;&nbsp;&nbsp;&nbsp;<U>Conditions on Delivery of
Stock</U>.&nbsp;&nbsp;&nbsp;&nbsp;The Company will not be obligated to deliver any Shares under the Plan or remove restrictions from Shares previously delivered under the Plan until (i)&nbsp;all Award conditions have been met or removed to the
Company&#146;s satisfaction, (ii)&nbsp;as determined by the Company, all other legal matters regarding the issuance and delivery of such Shares have been satisfied, including any applicable securities laws and stock exchange or stock market rules
and regulations, and (iii)&nbsp;the Participant has executed and delivered to the Company such representations or agreements as the Administrator deems necessary or appropriate to satisfy any Applicable Laws. The Company&#146;s inability to obtain
authority from any regulatory body having jurisdiction, which the Administrator determines is necessary to the lawful issuance and sale of any securities, will relieve the Company of any liability for failing to issue or sell such Shares as to which
such requisite authority has not been obtained. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">10.8&nbsp;&nbsp;&nbsp;&nbsp;<U>Acceleration</U>.&nbsp;&nbsp;&nbsp;&nbsp;The
Administrator may at any time provide that any Award will become immediately vested and fully or partially exercisable, free of some or all restrictions or conditions, or otherwise fully or partially realizable. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">10.9&nbsp;&nbsp;&nbsp;&nbsp;<U>Cash Settlement</U>.&nbsp;&nbsp;&nbsp;&nbsp;Without limiting the generality of any other provision of the
Plan, the Administrator may provide, in an Award Agreement or subsequent to the grant of an Award, in its discretion, that any Award may be settled in cash, Shares or a combination thereof. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">10.10&nbsp;&nbsp;&nbsp;&nbsp;<U>Broker-Assisted Sales</U>.&nbsp;&nbsp;&nbsp;&nbsp;In the event of a broker-assisted sale of Shares in
connection with the payment of amounts owed by a Participant under or with respect to the Plan or Awards, including amounts to be paid under the final sentence of Section&nbsp;10.5: (i) any Shares to be sold through the broker-assisted sale will be
sold on the day the payment first becomes due, or as soon thereafter as practicable; (ii)&nbsp;such Shares may be sold as part of a block trade with other Participants in the Plan in which all participants receive an average price; (iii)&nbsp;the
applicable Participant will be responsible for all broker&#146;s fees and other costs of sale, and by accepting an Award, each Participant agrees to indemnify and hold the Company and its Subsidiaries harmless from any losses, costs, damages, or
expenses relating to any such sale; (iv)&nbsp;to the extent the Company, its Subsidiaries or their designee receives proceeds of such sale that exceed the amount owed, the Company or one of its Subsidiaries will pay such excess in cash to the
applicable Participant as soon as </P>
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reasonably practicable; (v)&nbsp;the Company, its Subsidiaries and their designees are under no obligation to arrange for such sale at any particular price; and (vi)&nbsp;in the event the
proceeds of such sale are insufficient to satisfy the Participant&#146;s applicable obligation, the Participant may be required to pay immediately upon demand to the Company, a Subsidiary or their designees an amount in cash sufficient to satisfy
any remaining portion of the Participant&#146;s obligation. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">10.11&nbsp;&nbsp;&nbsp;&nbsp;<U>Prohibition on
Repricing</U>.&nbsp;&nbsp;&nbsp;&nbsp;Except pursuant to Article IX, the Administrator shall not, without the approval of the Company&#146;s shareholders, (a)&nbsp;reduce, whether through amendment or otherwise, the exercise price of any outstanding
Option or Stock Appreciation Right, or (b)&nbsp;grant any new Award or make any payment of cash in substitution for or upon the cancellation of Options and/or Stock Appreciation Rights previously granted when the exercise price of such Option or
Stock Appreciation Right exceeds the Fair Market Value of the underlying Shares. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE XI. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="center"><B>MISCELLANEOUS </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">11.1&nbsp;&nbsp;&nbsp;&nbsp;<U>No Right to Employment or Other Status</U>.&nbsp;&nbsp;&nbsp;&nbsp;No person will have any claim or right to
be granted an Award, and the grant of an Award will not be construed as giving a Participant the right to continued employment or any other relationship with the Company or any of its Subsidiaries. The Company and its Subsidiaries expressly reserve
the right at any time to dismiss or otherwise terminate their respective relationships with a Participant free from any liability or claim under the Plan or any Award, except as expressly provided in an Award Agreement or in the Plan. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">11.2&nbsp;&nbsp;&nbsp;&nbsp;<U>No Rights as Shareholder; Certificates</U>.&nbsp;&nbsp;&nbsp;&nbsp;Subject to the Award Agreement, no
Participant or Designated Beneficiary will have any rights as a shareholder with respect to any Shares to be distributed under an Award until becoming the record holder of such Shares. Notwithstanding any other provision of the Plan, unless the
Administrator otherwise determines or Applicable Laws require, the Company will not be required to deliver to any Participant certificates evidencing Shares issued in connection with any Award and instead such Shares may be recorded in the books of
the Company (or, as applicable, its transfer agent or stock plan administrator). The Company may place legends on stock certificates issued under the Plan that the Administrator deems necessary or appropriate to comply with Applicable Laws. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">11.3&nbsp;&nbsp;&nbsp;&nbsp;<U>Effective Date and Term of Plan</U>.&nbsp;&nbsp;&nbsp;&nbsp;The Plan will become effective on
February&nbsp;1, 2021 (the &#147;<B><I>Effective Date</I></B>&#148;), provided that the Board has adopted the Plan and the Company&#146;s shareholders have approved the Plan prior to such date, and will remain in effect until the tenth anniversary
of the Effective Date (unless earlier terminated by the Board). Notwithstanding anything to the contrary in the Plan, an Incentive Stock Option may not be granted under the Plan after 10 years from the earlier of (i)&nbsp;the date the Board adopted
the Plan or (ii)&nbsp;the date the Company&#146;s shareholders approved the Plan. If the Plan is not adopted by the Board and/or approved by the Company&#146;s shareholders, in each case, prior to the Effective Date, the Plan will not become
effective, no Awards will be granted under the Plan, and the Prior Plan will continue in full force and effect in accordance with its terms. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">11.4&nbsp;&nbsp;&nbsp;&nbsp;<U>Amendment of Plan</U>.&nbsp;&nbsp;&nbsp;&nbsp;The Board may amend, suspend or terminate the Plan at any time;
provided that no amendment, other than (a)&nbsp;as permitted by the applicable Award Agreement, (b)&nbsp;as provided under Sections 11.6 or 11.15 hereof, or (c)&nbsp;an amendment to increase to the Overall Share Limit, may materially and adversely
affect any Award outstanding at the time of such amendment without the affected Participant&#146;s consent. No Awards may be granted under the Plan during any suspension period or after the Plan&#146;s termination. Awards outstanding at the time of
any Plan suspension or termination will continue to be governed by the Plan and the Award Agreement, as in effect before such suspension or termination. The Board will obtain shareholder approval of any Plan amendment to the extent necessary to
comply with Applicable Laws, an amendment to Section&nbsp;10.12, or any amendment to increase the <FONT STYLE="white-space:nowrap">Non-Employee</FONT> Director Limit or the Individual Award Limits. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">11.5&nbsp;&nbsp;&nbsp;&nbsp;<U>Provisions for Foreign Participants</U>.&nbsp;&nbsp;&nbsp;&nbsp;The Administrator may modify Awards granted
to Participants who are foreign nationals or employed outside the United States or establish subplans or procedures under </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">
the Plan to address differences in laws, rules, regulations or customs of such foreign jurisdictions with respect to tax, securities, currency, employee benefit or other matters. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">11.6&nbsp;&nbsp;&nbsp;&nbsp;<U>Section 409A</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:4%; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">(a)&nbsp;&nbsp;&nbsp;&nbsp;<U>General</U>.&nbsp;&nbsp;&nbsp;&nbsp;To the extent that the Administrator determines that any
Award granted under the Plan is subject to Section&nbsp;409A, the Award Agreement evidencing such Award shall incorporate the terms and conditions required by Section&nbsp;409A. To the extent applicable, the Plan and the Award Agreements shall be
interpreted in accordance with Section&nbsp;409A, such that no adverse tax consequences, interest, or penalties under Section&nbsp;409A apply. Notwithstanding anything in the Plan or any Award Agreement to the contrary, the Administrator may,
without a Participant&#146;s consent, amend this Plan or Awards, adopt policies and procedures, or take any other actions (including amendments, policies, procedures and retroactive actions) as are necessary or appropriate to preserve the intended
tax treatment of Awards, including (if applicable) any such actions intended to (A)&nbsp;exempt this Plan or any Award from Section&nbsp;409A, or (B)&nbsp;comply with Section&nbsp;409A, including regulations, guidance, compliance programs and other
interpretative authority that may be issued after an Award&#146;s grant date. The Company makes no representations or warranties as to an Award&#146;s tax treatment under Section&nbsp;409A or otherwise. The Company will have no obligation under this
Section&nbsp;11.6 or otherwise to avoid the taxes, penalties or interest under Section&nbsp;409A with respect to any Award and will have no liability to any Participant or any other person if any Award, compensation or other benefits under the Plan
are determined to constitute noncompliant &#147;nonqualified deferred compensation&#148; subject to taxes, penalties or interest under Section&nbsp;409A. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:4%; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">(b)&nbsp;&nbsp;&nbsp;&nbsp;<U>Separation from Service</U>.&nbsp;&nbsp;&nbsp;&nbsp;If an Award is subject to and constitutes
&#147;nonqualified deferred compensation&#148; under Section&nbsp;409A, any payment or settlement of such Award upon a termination of a Participant&#146;s status as an Employee, Consultant and/or <FONT STYLE="white-space:nowrap">Non-Employee</FONT>
Director (as applicable) will, to the extent necessary to avoid taxes under Section&nbsp;409A, be made only upon the Participant&#146;s &#147;separation from service&#148; (within the meaning of Section&nbsp;409A), whether such &#147;separation from
service&#148; occurs upon or after the termination of the Participant&#146;s status as an Employee, Consultant and/or <FONT STYLE="white-space:nowrap">Non-Employee</FONT> Director (as applicable). For purposes of this Plan or any Award Agreement
relating to any such payments or benefits, references to a &#147;termination,&#148; &#147;termination of employment&#148; or like terms means a &#147;separation from service.&#148; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:4%; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">(c)&nbsp;&nbsp;&nbsp;&nbsp;<U>Payments to Specified Employees</U>.&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding any contrary
provision in the Plan or any Award Agreement, any payment(s) of &#147;nonqualified deferred compensation&#148; required to be made under an Award subject to Section&nbsp;409A to a &#147;specified employee&#148; (as defined under Section&nbsp;409A
and as the Administrator determines) due to his or her &#147;separation from service&#148; will, to the extent necessary to avoid taxes under Section&nbsp;409A(a)(2)(B)(i) of the Code, be delayed for the
<FONT STYLE="white-space:nowrap">six-month</FONT> period immediately following such &#147;separation from service&#148; (or, if earlier, until the specified employee&#146;s death) and will instead be paid (as set forth in the Award Agreement) on the
day immediately following such <FONT STYLE="white-space:nowrap">six-month</FONT> period or as soon as administratively practicable thereafter (without interest). Any payments of &#147;nonqualified deferred compensation&#148; under such Award payable
more than six months following the Participant&#146;s &#147;separation from service&#148; will be paid at the time or times the payments are otherwise scheduled to be made. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">11.7&nbsp;&nbsp;&nbsp;&nbsp;<U>Limitations on Liability</U>.&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding any other provisions of the Plan, no
individual acting as a director, officer, other employee or agent of the Company or any Subsidiary will be liable to any Participant, former Participant, spouse, beneficiary, or any other person for any claim, loss, liability, or expense incurred in
connection with the Plan or any Award, and such individual will not be personally liable with respect to the Plan because of any contract or other instrument executed in his or her capacity as an Administrator, director, officer, other employee or
agent of the Company or any Subsidiary. The Company will indemnify and hold harmless each director, officer, other employee and agent of the Company or any Subsidiary that has been or will be granted or delegated any duty or power relating to the
Plan&#146;s administration or interpretation, against any cost or expense (including attorneys&#146; fees) or liability (including any sum paid in settlement of a claim with the Administrator&#146;s approval) arising from any act or omission
concerning this Plan unless arising from such person&#146;s own fraud or bad faith. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">15 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">11.8&nbsp;&nbsp;&nbsp;&nbsp;<U>Unfunded Status of Awards</U>.&nbsp;&nbsp;&nbsp;&nbsp;The
Plan is intended to be an &#147;unfunded&#148; plan for incentive compensation. With respect to any payments not yet made to a Participant pursuant to an Award, nothing contained in the Plan or any Award Agreement shall give the Participant any
rights that are greater than those of a general creditor of the Company or any Subsidiary. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">11.9&nbsp;&nbsp;&nbsp;&nbsp;<U>Data
Privacy</U>.&nbsp;&nbsp;&nbsp;&nbsp;As a condition for receiving any Award, each Participant explicitly and unambiguously consents to the collection, use and transfer, in electronic or other form, of personal data as described in this section by and
among the Company and its Subsidiaries and affiliates exclusively for implementing, administering and managing the Participant&#146;s participation in the Plan. The Company and its Subsidiaries and affiliates may hold certain personal information
about a Participant, including the Participant&#146;s name, address and telephone number; birthdate; social security number, insurance number or other identification number; salary; nationality; job title(s); any Shares held in the Company or its
Subsidiaries and affiliates; and Award details, to implement, manage and administer the Plan and Awards (the &#147;<B><I>Data</I></B>&#148;). The Company and its Subsidiaries and affiliates may transfer the Data amongst themselves as necessary to
implement, administer and manage a Participant&#146;s participation in the Plan, and the Company and its Subsidiaries and affiliates may transfer the Data to third parties assisting the Company with Plan implementation, administration and
management. These recipients may be located in the Participant&#146;s country, or elsewhere, and the Participant&#146;s country may have different data privacy laws and protections than the recipients&#146; country. By accepting an Award, each
Participant authorizes such recipients to receive, possess, use, retain and transfer the Data, in electronic or other form, to implement, administer and manage the Participant&#146;s participation in the Plan, including any required Data transfer to
a broker or other third party with whom the Company or the Participant may elect to deposit any Shares. The Data related to a Participant will be held only as long as necessary to implement, administer, and manage the Participant&#146;s
participation in the Plan. A Participant may, at any time, view the Data that the Company and its Subsidiaries and affiliates holds regarding such Participant, request additional information about the storage and processing of the Data regarding
such Participant, recommend any necessary corrections to the Data regarding the Participant or refuse or withdraw the consents in this Section&nbsp;11.9 in writing, without cost, by contacting the local human resources representative. If the
Participant refuses or withdraws the consents in this Section&nbsp;11.9, the Company may cancel Participant&#146;s ability to participate in the Plan and, in the Administrator&#146;s discretion, the Participant may forfeit any outstanding Awards.
For more information on the consequences of refusing or withdrawing consent, Participants may contact their local human resources representative. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">11.10&nbsp;&nbsp;&nbsp;&nbsp;<U>Severability</U>.&nbsp;&nbsp;&nbsp;&nbsp;If any portion of the Plan or any action taken under it is held
illegal or invalid for any reason, the illegality or invalidity will not affect the remaining parts of the Plan, and the Plan will be construed and enforced as if the illegal or invalid provisions had been excluded, and the illegal or invalid action
will be null and void. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">11.11&nbsp;&nbsp;&nbsp;&nbsp;<U>Governing Documents</U>.&nbsp;&nbsp;&nbsp;&nbsp;If any contradiction occurs
between the Plan and any Award Agreement or other written agreement between a Participant and the Company (or any Subsidiary) that the Administrator has approved, the Plan will govern, unless it is expressly specified in such Award Agreement or
other written document that a specific provision of the Plan will not apply. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">11.12&nbsp;&nbsp;&nbsp;&nbsp;<U>Governing
Law</U>.&nbsp;&nbsp;&nbsp;&nbsp;The Plan and all Awards will be governed by and interpreted in accordance with the laws of the Commonwealth of Pennsylvania, disregarding any state&#146;s <FONT STYLE="white-space:nowrap"><FONT
STYLE="white-space:nowrap">choice-of-law</FONT></FONT> principles requiring the application of a jurisdiction&#146;s laws other than the Commonwealth of Pennsylvania. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">11.13&nbsp;&nbsp;&nbsp;&nbsp;<U>Claw-back Provisions</U>.&nbsp;&nbsp;&nbsp;&nbsp;All Awards (including, without limitation, any proceeds,
gains or other economic benefit, whether cash or otherwise, actually or constructively received by Participant upon any receipt or exercise of any Award or upon the receipt or resale of any Shares underlying the Award) shall be subject to the
provisions of any claw-back policy implemented by the Company, including, without limitation, any claw-back policy adopted to comply with Applicable Laws (including the Dodd-Frank Wall Street Reform and Consumer Protection Act and any rules or
regulations promulgated thereunder) as and to the extent set forth in such claw-back policy or the Award Agreement. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">16 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">11.14&nbsp;&nbsp;&nbsp;&nbsp;<U>Titles and Headings</U>.&nbsp;&nbsp;&nbsp;&nbsp;The titles
and headings in the Plan are for convenience of reference only and, if any conflict, the Plan&#146;s text, rather than such titles or headings, will control. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">11.15&nbsp;&nbsp;&nbsp;&nbsp;<U>Conformity to Securities Laws</U>.&nbsp;&nbsp;&nbsp;&nbsp;Participant acknowledges that the Plan is intended
to conform to the extent necessary with Applicable Laws. Notwithstanding anything herein to the contrary, the Plan and all Awards will be administered only in conformance with Applicable Laws. To the extent Applicable Laws permit, the Plan and all
Award Agreements will be deemed amended as necessary to conform to Applicable Laws. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="justify">11.16&nbsp;&nbsp;&nbsp;&nbsp;R<U>elationship to
Other Benefits</U>.&nbsp;&nbsp;&nbsp;&nbsp;No payment under the Plan will be taken into account in determining any benefits under any pension, retirement, savings, profit sharing, group insurance, welfare or other benefit plan of the Company or any
Subsidiary except as expressly provided in writing in such other plan or an agreement thereunder. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11.5pt; font-family:Times New Roman" ALIGN="center">* * * * * </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">17 </P>

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<TYPE>EX-5.1
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<FILENAME>d12597dex51.htm
<DESCRIPTION>EX-5.1
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 5.1 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt;margin-bottom:0pt">


<IMG SRC="g12597ex5_1.jpg" ALT="LOGO">
 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">UGI Corporation </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">460 North
Gulph Road </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">King of Prussia, PA 19406 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">February&nbsp;4, 2021
</P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">Re:</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><U>Registration Statement on Form <FONT STYLE="white-space:nowrap">S-8;</FONT> 20,500,000 Shares of Common
Stock, without par value</U> </P></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Ladies and Gentlemen: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">I, Jessica A. Milner, serve as Deputy General Counsel and Assistant Secretary of UGI Corporation, a Pennsylvania corporation
(&#147;<U>UGI</U>&#148;). My opinion has been requested in connection with the proposed issuance of up to 20,500,000 shares of common stock, without par value (the &#147;<U>Shares</U>&#148;), of UGI pursuant to the terms and conditions of the UGI
Corporation 2021 Incentive Award Plan (the &#147;<U>Plan</U>&#148;), which has been adopted by the Board of Directors of UGI and a majority of UGI&#146;s shareholders. The Plan became effective on February&nbsp;1, 2021. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Shares are included in a registration statement on Form <FONT STYLE="white-space:nowrap">S-8</FONT> under the Securities Act of 1933, as
amended (the &#147;<U>Act</U>&#148;), filed by UGI with the Securities and Exchange Commission (the &#147;<U>Commission</U>&#148;) on February&nbsp;4, 2021 (the &#147;<U>Registration Statement</U>&#148;). This opinion is being furnished in
connection with the requirements of Item 601(b)(5) of Regulation <FONT STYLE="white-space:nowrap">S-K</FONT> under the Act, and no opinion is expressed herein as to any matter pertaining to the contents of the Registration Statement or related
prospectus, other than as expressly stated herein with respect to the issuance of the Shares. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">I have examined such matters of fact and
questions of law as I have considered appropriate for purposes of this letter. With your consent, I have relied upon certificates and other assurances of officers of UGI and other sources believed by me to be responsible as to factual matters
without having independently verified such factual matters. I am opining herein as to the Pennsylvania Business Corporation Law (the &#147;<U>PBCL</U>&#148;), and I express no opinion with respect to any other laws. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Subject to the foregoing and the other matters set forth herein, it is my opinion that, as of the date hereof, upon issuance and delivery of
the Shares in the manner contemplated by the Registration Statement and the Plan, the issue of the Shares will have been duly authorized by all necessary corporate action of UGI, and the Shares will be validly issued, fully paid and nonassessable.
</P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This opinion is for your benefit in connection with the Registration Statement and may be
relied upon by you and by persons entitled to rely upon it pursuant to the applicable provisions of the Act. I consent to your filing this opinion as an exhibit to the Registration Statement. In giving such consent, I do not thereby admit that I am
in the category of persons whose consent is required under Section&nbsp;7 of the Act or the rules and regulations of the Commission thereunder. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
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<TD WIDTH="92%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">Very truly yours,</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">/s/ Jessica A. Milner</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Jessica A. Milner</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Deputy General Counsel and Assistant Secretary</TD></TR>
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<TYPE>EX-23.1
<SEQUENCE>4
<FILENAME>d12597dex231.htm
<DESCRIPTION>EX-23.1
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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 23.1 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM </U></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">We consent to the incorporation by reference in the Registration Statement (Form <FONT STYLE="white-space:nowrap">S-8)</FONT> pertaining to the UGI
Corporation 2021 Incentive Award Plan of our reports dated November&nbsp;20, 2020, with respect to the consolidated financial statements of UGI Corporation and the effectiveness of internal control over financial reporting of UGI Corporation,
included in its Annual Report (Form <FONT STYLE="white-space:nowrap">10-K)</FONT> for the year ended September&nbsp;30, 2020, filed with the Securities and Exchange Commission. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">/s/ Ernst&nbsp;&amp; Young LLP</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Philadelphia, PA</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">February&nbsp;4, 2021</P></TD></TR>
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<TYPE>GRAPHIC
<SEQUENCE>5
<FILENAME>g12597ex5_1.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g12597ex5_1.jpg
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
