WPS Resources Corporation Severance Arrangement with Joseph P. O'Leary
WPS Resources Corporation has agreed to provide Joseph P. O'Leary with a severance payment equal to one year's salary if his job is eliminated within his first three years of employment. This arrangement does not apply if Mr. O'Leary is terminated for cause or resigns voluntarily, and it is not in addition to any Key Executive Employment and Severance Agreement.
Exhibit 10.18
WPS Resources Corporation
Severance Arrangement between
WPS Resources Corporation and Joseph P. O'Leary
During the first three years of employment, Mr. O'Leary will be eligible for a Severance Plan that would provide a payment of one times his annual salary if his job ware eliminated. This Severance Plan does not apply in situations where termination is for cause or if Mr. O'Leary were to leave voluntarily. This Severance Plan is not in addition to the Key Executive Employment and Severance Agreement.
