Severance Agreement between Wilson Greatbatch Technologies, Inc. and Larry T. DeAngelo

Summary

This agreement outlines that Larry T. DeAngelo, Senior Vice President at Wilson Greatbatch Technologies, Inc., will receive at least one year of severance payments if his employment is involuntarily terminated by the company. He will not receive severance if he resigns, retires, is terminated for cause, or leaves due to disability or death. However, he may receive severance if he leaves for "good reason" as defined in a related agreement, even without a change of control event. The agreement is approved by the company's Chairman and CEO.

EX-10.17 5 a4842884ex1017.txt EXHIBIT 10.17 EXHIBIT 10.17 WG(R) WILSON GREATBATCH TECHNOLOGIES, Inc. THE POWER TO DO GREAT THINGS(TM) TO: Ed Voboril FROM: Larry DeAngelo DATE: March 31, 2003 SUBJECT: Severance Payments ================================================================================ Thank you for agreeing to consider providing a Severance Payment Benefit to me consistent with the benefit currently in place for the other members of the Office of the Chairman. The language should read as follows: Larry T. DeAngelo, Senior Vice President Administration and Secretary, Wilson Greatbatch Technologies, Inc. (WGT) will be granted a minimum of one year of severance payments should his employment be involuntarily terminated by WGT. WGT will not be obligated to provide severance pay should Mr. DeAngelo voluntarily terminate his employment, voluntarily retire, be discharged for cause or terminate due to disability or death. Voluntary separation may be triggered for "good reason" as defined in the Change of Control Agreement, however, excluding those provisions of that definition requiring a Change of Control event. /s/ Edward F. Voboril ---------------------------- Approved: Edward F. Voboril Chairman, President & C.E.O.