Summary of FERRELLGAS PARTNERS L P

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On August 10, 2009, the members of the Board of Directors Compensation Committee authorized us and our general partner to enter into three-year employment agreements with each of the following six executive officers:

Х Stephen L. Wambold, President and Chief Operating Officer,

Х James R. VanWinkle, Senior Vice President and Chief Financial Officer,

Х Jennifer Boren, Vice President, Information Technology,

Х Tod Brown, Senior Vice President, Ferrellgas and President, Blue Rhino,

Х Eugene D. Caresia, Vice President, Human Resources, and

Х George L. Koloroutis, Senior Vice President, Ferrellgas and President, Ferrell North America.

The agreements contain the following provisions, among others:

Cancellation of Amended and Restated Change in Control Agreements dated as of March 5, 2008 for Stephen L. Wambold, Tod Brown, Eugene D. Caresia and George L. Koloroutis. Cancellation of Change in Control Agreements dated as of March 5, 2008 for James R. VanWinkle and dated as of December 8, 2008 for Jennifer Boren.

During the agreement term, while the executive is employed by Ferrellgas, Inc. (the "Company"), the executive shall i) receive a base salary payable in accordance with the regular payroll practices of the Company; ii) be eligible to participate in employee benefit plans and programs maintained by the Company, subject to the terms and conditions of such plans; iii) be entitled to bonuses from the Company as determined by the Board of Directors of the Company; and iv) be reimbursed by the Company in accordance with the Company's expense reimbursement policy, for reasonable out-of-pocket expenses.

Under the terms of the agreements, if any of the above mentioned executive officer's employment with us is terminated for any reason, that executive officer will be entitled to the following payments i) the executive's earned but unpaid salary for the period ending on the executive's termination date; ii) the executive's accrued but unpaid vacation pay for the period ending with the executive's termination date; iii) the executive's unreimbursed business expenses; and iv) any amounts payable to the executive under the terms of any employee benefit plan.

Under the terms of the agreements, if any of the above mentioned executive officer's employment with us is terminated for any reason other than for cause (as defined in the agreements) or by the executive for good reason (as defined in the agreements), that executive officer will be entitled to the following payments and benefits i) a payment equal to two times the executive's salary;
ii) a payment equal to two times the executive's target bonus; iii) for the two year period following the termination date, the executive will be entitled to receive continuing group medical coverage; and iv) a lump sum payment of $12,000 for professional outplacement services.

Item 9.01 Financial Statements and Exhibits.

The following materials are filed as exhibits to this Current Report on Form 8-K.

Exhibit 10.1 - Employment Agreement by and between Ferrellgas, Inc. and Stephen L. Wambold
Exhibit 10.2 - Employment Agreement by and between Ferrellgas, Inc. and James R. VanWinkle
Exhibit 10.3 - Employment Agreement by and between Ferrellgas, Inc. and Jennifer Boren
Exhibit 10.4 - Employment Agreement by and between Ferrellgas, Inc. and Tod Brown
Exhibit 10.5 - Employment Agreement by and between Ferrellgas, Inc. and Eugene D. Caresia
Exhibit 10.6 - Employment Agreement by and between Ferrellgas, Inc. and George L. Koloroutis
Exhibit 99.15 - Ferrellgas, Inc. and subsidiaries condensed consolidated balance sheets (unaudited) as of April 30, 2009 and July 31, 2008.

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