<PAGE>   1
                                                                   Exhibit 10.11


                                                              SEPTEMBER 29, 1999














                            WEIRTON STEEL CORPORATION

                          EXECUTIVE HEALTHCARE PROGRAM
















                             EFFECTIVE JULY 1, 1999


<PAGE>   2


                                    PREAMBLE

         In 1997, the Management Development and Compensation Committee of the
Board of Directors of Weirton Steel Corporation (the "Employer") recognized that
the Employer needed a vehicle to provide post-termination health care insurance
coverage to continue to attract and retain key, mid-career executives and senior
managers. The Employer's retiree health care program effectively has excluded
most recruits over the age of 50 from ever achieving post-termination health
care insurance coverage. On the other hand, other employers appeared to have the
ability to offer such a benefit as an inducement to the Employer's senior
managers to leave the employ of the Employer. Therefore, the Committee
authorized the development and implementation of this Program, to be effective
on the Effective Date (as defined herein).

         The Program is intended to be an extension of the Employer-funded
Healthcare plan available for active and retired employees of the Employer.


<PAGE>   3


                                    SECTION 1

                                   DEFINITIONS

         When used in this Program, unless the context clearly indicates
otherwise, the terms set forth below shall be defined as follows:

1.01     "Change in Control" has the definition set forth in Section 5.01
         hereof.

1.02     "Committee" means the persons named under Section 6 to administer the
         Program.

1.03     "Comparable Position" means any employment, including self-employment,
         of a former Employee within 12 months following the Employee's
         Termination of Employment, which employment provides comprehensive
         healthcare benefits and in which the former Employee's annualized base
         compensation exceeds 85% of his final base compensation with the
         Employer.

1.04     "Dependent" shall mean a dependent as defined under an applicable
         Healthcare Plan.


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<PAGE>   4


1.05     "Effective Date" means July 1, 1999.

1.06     "Eligible Employee" means an Employee who has satisfied the eligibility
         criteria set forth in Section 2.

1.07     "Employee" means any individual who is, or was, employed by the
         Employer at the date of Termination of Employment in at least salary
         grade 56 or a similar position as determined by the Committee.

1.08     "Employer" means Weirton Steel Corporation, a Delaware corporation, any
         Subsidiary of the Employer to whose Employees the Program is made
         available by action of the Committee, and any successor in interest
         thereto.

1.09     "For Just Cause" means a Termination of Employment for one or more of
         the following reasons: (a) conviction of a felony punishable by a
         prison sentence of more than one year; (b) habitual use of drugs
         without a prescription or habitual, excessive use of alcohol to the
         extent that any of such uses materially interferes with the Employee's
         performance of his duties; or (c) refusal or failure, after written
         notice, by the Employee to perform or discharge duties and
         responsibilities appropriate to his position which are properly
         assigned to him, which refusal or failure amounts to an extended and
         gross neglect of his duties to the Employer.


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<PAGE>   5


1.10     "Healthcare Plan" means one or more applicable healthcare benefit plan
         as sponsored and maintained by the Employer from time to time for its
         nonrepresented active or retired salaried employees, (including both
         pre- and post-Medicare coverages).

1.11     "Initial Group of Employees" means those Employees initially approved
         for inclusion in this Plan as listed in Appendix A attached hereto.

1.12     "Organization" means any corporation, partnership, limited liability
         company, business trust or other legal entity not included in the
         controlled group of businesses of which the Employer is a member.

1.13     "Participant" means an Eligible Employee who has completed, signed and
         returned to the Committee the applicable
         enrollment/election/re-enrollment forms required to participate in the
         Program. To the extent provided in Section 4.01, the term shall also
         include eligible Dependents.

1.14     "Program" means the Weirton Steel Corporation Executive Healthcare
         Program, as set forth in this document and as may be amended from time
         to time hereafter.


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<PAGE>   6


1.15     "Service" means:

         (a)      With respect to the Initial Group of Employees, Service as
                  defined under the Weirton Steel Corporation Retirement Plan
                  No. 001, ("Plan No. 001") and

         (b)      With respect to all other Eligible Employees, continuous
                  employment with the Employer determined in accordance with the
                  definition of Year of Service under Plan No. 001, but
                  excluding periods of non-active service such as, but not
                  limited to, authorized absences in which the Employee receives
                  sickness and accident benefits, long-term disability leave or
                  leave with (or without) pay from the Employer, unless such
                  periods are required to be included under applicable federal
                  or state law determined to be applicable to the Program.
                  Non-active service and the duration thereof shall be
                  determined by the Committee in its sole discretion, based on
                  rules uniformly applied.

1.16     "Termination of Employment" means a Break in Service as set forth in
         the terms of the Weirton Steel Corporation Retirement Plan ("Plan No.
         001").


                                                                              /4
<PAGE>   7


                                    SECTION 2

                                  PARTICIPATION

2.01     ELIGIBILITY

         Subject to Sections 2.02 and 2.03 hereof, the following conditions must
be satisfied to participate in the Program:

         (a)      The Employee: (i) is included in the Initial Group of
                  Employees, or is designated subsequently for inclusion in the
                  Program by the Committee; and (ii) attains age 55 with at
                  least five years of Service, or attains 15 years of Service;
                  and (iii) attains five years of Service in the salary grade 56
                  position (or a position similar thereto as determined by the
                  Committee).

         (b)      The Employee, at the time of Termination of Employment, is not
                  eligible to receive a retirement benefit from Plan 001, other
                  than a deferred vested benefit, or if entitled to a pension
                  benefit is otherwise not eligible to participate in the
                  Healthcare Plan;

         (c)      The Employee's Termination of Employment is not For Just Cause
                  or was not voluntary on the part of the Employee, except as a
                  result of the Employer's breach of an employment, severance or
                  similar agreement with the Employee or as a result of the
                  Employee's retirement; and

         (d)      The Employee furnishes the Committee with evidence reasonably
                  required by the Committee to ascertain that the Employee is
                  not being or has not been employed in a Comparable Position.


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<PAGE>   8


2.02     PARTICIPATION

         (a)      Subject to Section 2.03, an Eligible Employee may elect,
                  within sixty (60) days of Termination of Employment, to
                  participate or defer participation in the Program in the
                  Program in accordance with the terms of the Healthcare Plan in
                  effect at that time.

         (b)      Each Eligible Employee may elect to participate by executing
                  and delivering an enrollment/election/re-enrollment form to
                  the Committee. An Eligible Employee who elects to defer
                  Program participation or who initially does not elect to
                  participate may enroll/re-enroll in the Program at any time so
                  long as the Employee remains an Eligible Employee.

         (c)      A Participant under the Program may elect to suspend
                  participation at anytime, and may re-enroll in the Program at
                  any time so long as, at the end of the suspension, none of the
                  termination events set forth in Section 2.03 has occurred and
                  the Employee otherwise remains an Eligible Employee.

         (4)      Any election to participate in the Program shall be
                  retroactive to the first day of the calendar month in which
                  the election is made.

2.03     TERMINATION OF PARTICIPATION

         (a)      Participation in the Program shall terminate upon the earliest
                  of:

                  (1)      The death of the last of the Participant and his
                           eligible Dependents;

                  (2)      A determination that the Participant has violated any
                           applicable noncompete and/or confidentiality
                           agreement with the Employer;


                                                                              /6
<PAGE>   9


                  (3)      The Participant's failure to provide documentation
                           required by the Committee to conclude that the
                           Participant remains an Eligible Employee.

                  (4)      Subject to (d) below, if a Participant's
                           participation in the Program is terminated as a
                           result of working in a Comparable Position then such
                           Employee shall forever be ineligible to participate
                           in the Program.

         (b)      An Eligible Employee's decision to participate, defer or
                  suspend participation under the Program shall be binding on
                  any eligible Dependents. Any circumstance other than the
                  Participant's death which results in termination of
                  participation in the Program for the Participant shall also
                  result in termination of coverage for the Participant's
                  eligible Dependents.

         (c)      If an Eligible Employee has a Termination of Employment and is
                  re-employed by the Employer, the terms and conditions of any
                  intervening employment shall not affect adversely any
                  determination concerning the Employee's eligibility or rights
                  to participate in the Program following any subsequent
                  Termination of Employment.


                                                                              /7
<PAGE>   10


                                    SECTION 3

                              PAYMENT FOR COVERAGE

3.01     PARTICIPANT PREMIUM PAYMENTS

         Each Participant shall pay the premiums for the coverage provided to
the Participant (including Dependent coverage) under the applicable Healthcare
Plan. In so far as practicable, the amount of the premiums will be based on the
Employer's average cost of providing the Healthcare Plan coverage to other
similarly situated retired or active employees of the Employer in the calendar
quarter last preceding the calendar quarter of coverage. The Employer shall take
into consideration all elements of cost, including but not limited to, pre- and
post-Medicare (age 65) coverage, retiree claims experience, marital and
dependency status, in establishing the premium cost.

3.02     EMPLOYER PAYMENTS


         (a)      Except as provided in Section 3.02(b), the Employer will pay
                  to or on behalf of each Participant an amount equal to the
                  premium payments required to be paid by the Participant an
                  amount that will provide the coverage under the applicable
                  Healthcare Plan on the same basis as the Participant would
                  have received the coverage had he remained an active employee,
                  or received retirement coverage as applicable. Employer
                  payments may be paid quarterly, but shall be paid no less
                  frequently than annually. The Employer payments are expected
                  to be taxable income to the Participant, and the Participant
                  shall be advised of these circumstances in connection with any
                  application to participate.

         (b)      If the applicable Healthcare Plan requires participants
                  generally to make premium payments to maintain coverage, the
                  Participant will be required to make payments of like amount
                  without corresponding Employer payments.


                                                                              /8
<PAGE>   11


                                    SECTION 4

                                    BENEFITS

4.01     TYPE OF BENEFITS

         (a)      Each Participant shall be entitled to receive coverage under
                  the applicable Healthcare Plan made available from time to
                  time by the Employer to its similarly situated active or
                  retired Employees.

                  (1)      A Participant who is eligible for Medicare shall
                           receive Employer selected Healthcare Plan coverage
                           then available to the Employer's retirees under any
                           Healthcare Plan.

                  (2)      A Participant who is not eligible for Medicare shall
                           receive Employer selected Healthcare Plan coverage
                           then available to the Employer's active employees
                           under any Healthcare Plan.

         (b)      Participants shall be entitled to elect either "self" or "self
                  plus Dependent" coverage under the applicable Healthcare Plan,
                  if available.

         (c)      The benefits provided under a Healthcare Plan will be subject
                  to the terms and conditions of that Healthcare Plan. No fixed
                  or minimum level of benefits is provided under the Program.

         (d)      A Healthcare Plan may be amended, modified or terminated
                  unilaterally by the Employer at any time and without the
                  consent of any Participant; provided, that there shall be no
                  discrimination against Participants as compared to similarly
                  classified Employees participating in a Healthcare Plan; and
                  provided further, that no amendment, modification or
                  termination shall adversely affect any Participant's rights
                  arising as a result of the operation of Section 7.01 and
                  Section 7.02.


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<PAGE>   12


4.02     COORDINATION OF BENEFITS

         In the event a Participant has coverage available under another
healthcare plan, the standard coordination of benefit provisions being applied
by the Employer generally will apply to determine which plan provides the
Participant's primary coverage.

4.03     APPLICATION AND CLAIMS PROCEDURE

         (a)      The Committee shall establish reasonable procedures under
                  which a Participant may present a claim for benefits under the
                  Program (including under any applicable Healthcare Plan).

         (b)      If a claim for benefits properly submitted in accordance with
                  the procedures established pursuant to subsection (a) of this
                  Section is not allowed in full, the claims and review
                  procedure provided under the applicable Healthcare Plan shall
                  apply, and the Participant shall comply with that procedure in
                  requesting any review of the claim for benefits.


                                                                             /10
<PAGE>   13

                                    SECTION 5

                                CHANGE IN CONTROL

5.01     DEFINITION OF CHANGE IN CONTROL

         The term "Change in Control" means the occurrence of one or more of the
following events:

         (a)      The acquisition in one or more transactions by any individual,
                  entity or group within the meaning of Section 13(d)(3) of the
                  Securities Exchange Act of 1934 (the "Exchange Act") of
                  beneficial ownership within the meaning of Rule 13d-3 under
                  the Exchange Act of what would amount to 30 % or more of the
                  combined voting power of all outstanding voting securities of
                  the Employer entitled to vote generally on matters submitted
                  to stockholders ("Employer Voting Securities") without giving
                  effect to any limitation in voting power imposed on a
                  "Significant Stockholder" as defined in, and pursuant to,
                  Article Eleventh of the Employer's Restated Certificate of
                  Incorporation (the "Charter"); provided, however, that the
                  following events, in and of themselves, shall not constitute a
                  Change in Control under this subsection (a):

                  (1)      Any acquisition of Voting Securities by the Employer,
                           any wholly owned subsidiary of the Employer or any
                           employee benefit plan (or related trust) sponsored or
                           maintained by the Employer or any such subsidiary; or

                  (2)      Any acquisition of Voting Securities by a corporation
                           with respect to which, following such acquisition,
                           not less than 80% of the then outstanding voting
                           power of the then outstanding voting securities of
                           such corporation entitled to vote generally on
                           matters submitted to stockholders is then
                           beneficially owned, directly or indirectly, by all or
                           substantially all of the individuals and entities who
                           were the beneficial owners, respectively, of the
                           Employer Voting Securities immediately prior to such
                           acquisition and in substantially the same proportion
                           as


                                                                             /11
<PAGE>   14


                           their ownership, immediately prior to such
                           acquisition, of the Employer Voting Securities.

         (b)      Individuals who constitute the incumbent Board of Directors of
                  the Employer at the Effective Date cease for any reason to
                  constitute at least two thirds of the Board of Directors of
                  the Employer and, within 12 months of the occurrence of such
                  event, the individual serving as the CEO at the time of such
                  event ceases to serve as CEO; provided, however, that any
                  individual becoming a director subsequent to the Effective
                  Date who was elected by a vote of at least a majority of the
                  then remaining incumbent directors or whose nomination for
                  election was approved by the vote of at least a majority of
                  the then remaining incumbent directors and who was
                  subsequently elected by the stockholders, as the case may be,
                  shall be considered as though such individual were a member of
                  the incumbent Board of Directors;

         (c)      Individuals who constitute the incumbent Board of Directors of
                  the Employer at the Effective Date cease for any reason to
                  constitute at least a majority of the Board of Directors of
                  the Employer; provided, however, that any individual becoming
                  a director subsequent to the Effective Date who was elected by
                  a vote of at least a majority of the then remaining incumbent
                  directors or whose nomination for election was approved by the
                  vote of at least a majority of the then remaining incumbent
                  directors and who was subsequently elected by the
                  stockholders, as the case may be, shall be considered as
                  though such individual were a member of the incumbent Board of
                  Directors;

         (d)      Any amendment to Article Tenth of the Charter reducing the
                  level of approval required for the Employer to engage in any
                  transaction specified in, or governed by, such Article, or
                  removing any such transaction from the scope of such Article,
                  in each case as in existence on the Effective Date, is duly
                  approved by the requisite vote of stockholders of the
                  Employer, and, within 12 months of any such approval, (i) any
                  transaction which was


                                                                             /12
<PAGE>   15


                  removed from the scope of Article Tenth or whose level of
                  approval was reduced by the amendment is approved by the
                  stockholders of the Employer or, if no such approval is then
                  required, such transaction is effected, or (ii) the individual
                  serving as the CEO at the time of such approval ceases to
                  serve as CEO;

         (e)      The stockholders of the Employer duly approve by the requisite
                  vote any transaction specified by Article Tenth of the Charter
                  as in existence on the Effective Date, excluding any
                  transaction with a "Significant Stockholder" (as defined in
                  the Charter on the Effective Date) specified in exclusion for
                  "minor" interested transactions, unless, (i) notwithstanding
                  such approval, the transaction is abandoned as permitted by
                  applicable law, or (ii) the approval relates to a transaction
                  involving a merger, consolidation or disposition of
                  substantially all assets by the Employer, immediately
                  following which all, or substantially all, the individuals and
                  entities who were the beneficial owners of the Employer Voting
                  Securities immediately prior to such transaction beneficially
                  own, directly or indirectly, not less than 80% of the then
                  outstanding voting securities entitled to vote generally in
                  the election of directors of the corporation surviving or
                  resulting from such transaction, or acquiring the assets of
                  the Employer in such transaction, as the case may be, and in
                  substantially the same proportion as their ownership of the
                  Employer Voting Securities immediately prior to such
                  transaction; or

         (f)      A "change in control" or "change of control" (or substantially
                  similarly worded term), as defined in any instrument of
                  indebtedness of the Employer, whether now existing or
                  hereafter incurred, has occurred.

5.02     EFFECT OF CHANGE IN CONTROL

         Notwithstanding any other provision of this Plan, immediately and
automatically upon a Change in Control, the following shall apply:


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         (a)      Each Employee in the Initial Group of Employees, and each
                  Employee subsequently designated by the Committee for
                  inclusion in the Program prior to the Change in Control, shall
                  be deemed conclusively to have satisfied all age and/or
                  service requirements under Section 2.01(a)(i)(ii) and (b).

         (b)      Each Employee who would otherwise be an Eligible Employee,
                  except for the Years of Service requirements under Section
                  2.01(a) and whose Termination of Employment occurs within two
                  years after the Change in Control shall be deemed to have met
                  all requirements under Section 2.01 at the time of
                  termination.



                                    SECTION 6

                               PLAN ADMINISTRATION

6.01     COMMITTEE

         Unless specifically provided otherwise in the Program, the Program is
to be administered exclusively by the Committee on behalf of the Employer.
Members of the Committee shall not be deemed to be individual fiduciaries or to
have liability as individuals for their service to, or actions as members of,
the Committee.

6.02     APPOINTMENT OF COMMITTEE

         (a)      The Chief Executive Officer of the Employer (the "CEO") shall
                  appoint three or more individuals (who may include Employees)
                  to constitute the Committee. An individual appointed a member
                  of the Committee shall signify acceptance in writing and shall
                  serve on the Committee as provided in the Program.


                                                                             /14
<PAGE>   17


         (b)      The CEO may remove or replace a member of the Committee at any
                  time, with or without or without reason, and any member may
                  resign at any time by delivering the member's written
                  resignation to the CEO. A resignation shall be effective upon
                  its delivery or at any later date specified therein. If at any
                  time there is a vacancy on the Committee, the remaining
                  members may continue to act in accordance with the Program
                  until such vacancy is filled.

         (c)      If, for any reason, the CEO fails to appoint or maintain a
                  Committee, the Board of Directors of the Employer shall
                  appoint or maintain the Committee or perform its duties.

6.03     COMMITTEE PROCEDURES

         (a)      Actions of the Committee under the Program shall be by vote of
                  a majority of its members at a meeting held upon due notice at
                  which a quorum of members is present, or by written consent
                  without a meeting signed by all members. No member of the
                  Committee may vote on or otherwise act on any matter which
                  affects the member's singular interest under the Program.

         (b)      The Committee may allocate among its members specific powers,
                  duties, and responsibilities as it deems advisable.

         (c)      The Committee may delegate to its appointed assistants,
                  representatives, or agents, specific powers, duties, and
                  responsibilities as it deems advisable.

         (d)      A member of the Committee shall receive compensation and
                  reimbursement for expenses solely as determined by the
                  Employer; provided that, in no event, shall a full-time
                  employee of the Employer be entitled to compensation for
                  services rendered.

6.04     COMMITTEE POWERS AND DUTIES

         In addition to powers and duties specifically granted to it elsewhere
in the Program, the Committee shall have the following exclusive powers and
duties:


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<PAGE>   18


         (a)      To make and enforce such rules and regulations as it deems
                  necessary, appropriate, or desirable for the administration of
                  the Program;

         (b)      To interpret the Program, including the right to clarify and
                  correct possible ambiguities, inconsistencies, or omissions;

         (c)      To maintain all necessary records for the administration of
                  the Program;

         (d)      To investigate and decide all questions and facts related to
                  participation in the Program, the determination of eligibility
                  for, duration and type of benefits under the Program; and

         (e)      To prescribe procedures for, filing and contents of,
                  applications for benefits under the Program.

All determinations, actions and decisions made by the Committee concerning the
powers and duties granted to it or the administration of the Program shall be
binding on Eligible Employees, Participants, Dependents and all other parties
and shall be final and conclusive, subject only to the claims procedures
contained in Section 4.03, provided that such determinations, actions and
decisions are not arbitrary or capricious.

6.05     INFORMATION FROM EMPLOYEES

         Each Employee shall furnish the Committee in the form prescribed by it,
and at its request, such personal data, affidavits, consents, authorizations to
obtain information and other information (including copies of state and/or
federal income tax returns) as the Committee deems necessary or desirable for
the administration of the Program, all in a timely manner as communicated to the
Employee by the Committee.

6.06     INCOMPETENCY

         If a Participant to whom an amount or benefit is due under this Program
is declared legally incompetent by proper judicial authority, the Committee may
cause payment of such amount to be made to the guardian or other legal
representative of the individual. A payment, to the extent made, will operate


                                                                             /16
<PAGE>   19


as a valid and complete discharge of any liability therefor under the Program or
any applicable Healthcare Plan.

6.07     INDEMNIFICATION

         (a)      The Employer shall indemnify and hold harmless, subject to any
                  limitations imposed by law, all directors, officers, employees
                  and agents of the Employer and its affiliates, and members of
                  the Committee to the extent not otherwise comprehended within
                  the foregoing, whether or not any such persons are determined
                  to be fiduciaries, against any and all liability, loss, or
                  cost such persons may incur in the exercise of their duties
                  and powers under the Program or such persons may otherwise
                  incur as a result of the Employer's sponsorship of the Program

         (b)      The Employer shall also assume, and pay for the defense of, or
                  reimburse the expenses reasonably incurred by the defense of,
                  any and all claims, actions, suits, or proceedings arising
                  under, or as a result of, the Program which are brought
                  against any person referred to in subsection (a).

6.08     EXPENSES

         All expenses incurred in establishing, administering, and maintaining
the Program shall be paid by the Employer.


                                                                             /17
<PAGE>   20

                                    SECTION 7

                            MISCELLANEOUS PROVISIONS

7.01     PROGRAM NOT CONTRACT OF EMPLOYMENT

         The existence of the Program shall not create a contract of employment,
express or implied, between the Employer and its employees nor shall it alter or
amend any existing contract of employment, and shall not affect the Employer's
right to take any action with respect to its employees, including terminating
their employment at any time, subject only to the terms and conditions imposed
by contracts of employment and the requirements of law.

7.02     AMENDMENT OR TERMINATION

         This Program may not be amended in any manner, including any suspension
or termination, so as to reduce at any time, whether or not following a Change
in Control (i) the future entitlement to coverage for any Eligible Employee at
the time of a Change in Control (including Employees who become Eligible
Employees by reason of the operation of subsection (a) or (b) of this Section
5.02), or (ii) the entitlement to continuing coverage for each Participant
receiving coverage at the time of a Change in Control and for each Eligible
Employee referred to in the immediately preceding clause (i).

7.03     NUMBER AND GENDER

         In this Program, the use of singular shall be interpreted to include
the plural and the plural the singular, as the context shall require. The use of
the masculine, feminine, or neuter shall be interpreted to include the
masculine, feminine, or neuter, as the context shall require.


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<PAGE>   21


7.04     WHEN PROGRAM PROVISIONS CONTROL

         In the event of any conflict between the provisions of the Program and
the provisions of a summary or description of the Program or the terms of any
agreement, contract, or instrument related to the Program, the provisions of the
Program shall control. Notwithstanding the previous sentence, the provisions of
an applicable Healthcare Plan shall control the scope of the healthcare benefits
which the Participant is entitled to receive under the Program.

7.05     GOVERNING LAW

         To the extent not preempted by federal law, the provisions of the
Program shall be governed and construed under the internal laws of the State of
West Virginia, without giving effect to any conflicts of law principles.

7.06     TAXES

         Participants are responsible for the payment of all taxes on any income
resulting from payments made to them under the Program to pay benefit premiums.
The Employer shall be responsible for issuing on a timely basis appropriate tax
reporting forms to Participants for each preceding calendar year.

7.07     RETIREMENT PROGRAMS

         Participation in the Program shall not entitle a Participant to accrue
any additional benefits under any retirement plan or any other employee benefit
plan sponsored by the Employer.

7.08     SPENDTHRIFT

         To the maximum extent permitted by law, benefits and interests in the
Program and/or any applicable Healthcare Plan shall not be anticipated,
assigned, alienated, subject to attachment, garnishment, levy, execution or
other legal or equitable process, or otherwise be subject to the claims of
creditors of Participants, Eligible Employees or Dependents.


                                                                             /19
<PAGE>   22


7.09     BINDING ON SUCCESSORS, PURCHASERS, TRANSFEREES AND ASSIGNS

         This Program shall be binding upon any successor or successors of the
Employer, whether by merger, consolidation, reorganization, purchase, transfer,
assignment or otherwise. In any such circumstance, and as a condition thereto,
the Employer shall provide for the explicit assumption of the Employer's
obligations under this Program by any such successor.





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<PAGE>   23


         The Employer has caused this Program to be executed this 1st day of
July, 1999.


ATTEST:

WEIRTON STEEL CORPORATION
By: /s/ WILLIAM R. KIEFER
Its: Secretary




<PAGE>   24


                            WEIRTON STEEL CORPORATION

                          EXECUTIVE HEALTHCARE PROGRAM

                                TABLE OF CONTENTS

<TABLE>
<CAPTION>
                                                                                                      PAGE
                                                                                                      ----
<S>      <C>                                                                                          <C>
SECTION 1 - DEFINITIONS

1.01     Change in Control...............................................................................1

1.02     Committee.......................................................................................1

1.03     Comparable Position.............................................................................1

1.04     Dependent.......................................................................................1

1.05     Effective Date..................................................................................2

1.06     Eligible Employee...............................................................................2

1.07     Employee........................................................................................2

1.08     Employer........................................................................................2

1.09     For Just Cause..................................................................................2

1.10     Healthcare Plan.................................................................................3

1.11     Initial Group of Employees......................................................................3

1.12     Organization....................................................................................3

1.13     Participant.....................................................................................3

1.14     Program.........................................................................................3

1.15     Service.........................................................................................4

1.16     Termination of Employment.......................................................................4
</TABLE>


<PAGE>   25


<TABLE>
<S>      <C>                                                                                          <C>
SECTION 2 - PARTICIPATION

2.01     Eligibility.....................................................................................5

2.02     Participation ..................................................................................6

2.03     Termination of Participation ...................................................................6

SECTION 3 - PAYMENT FOR COVERAGE

3.01     Participant Premium Payments....................................................................8

3.02     Employer Payments...............................................................................8

SECTION 4 - BENEFITS

4.01     Type of Benefits................................................................................9

4.02     Coordination of Benefits.......................................................................10

4.03     Application and Claims Procedure...............................................................10

SECTION 5 - Change in Control

5.01     Definition of Change in Control................................................................11

5.02     Effect of Change in Control....................................................................13

SECTION 6 - PLAN ADMINISTRATION

6.01     Committee......................................................................................14

6.02     Appointment of Committee.......................................................................14

6.03     Committee Procedures...........................................................................15

6.04     Committee Powers and Duties....................................................................15

6.05     Information From Employees.....................................................................16

6.06     Incompetency...................................................................................16

6.07     Indemnification................................................................................17

6.08     Expenses.......................................................................................17

SECTION 7 - MISCELLANEOUS PROVISIONS

7.01     Program Not Contract of Employment.............................................................18

7.02     Amendment or Termination.......................................................................18
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<S>      <C>                                                                                          <C>
7.03     Number and Gender..............................................................................18

7.04     When Program Provisions Control................................................................19

7.05     Governing Law..................................................................................19

7.06     Taxes..........................................................................................19

7.07     Retirement Programs............................................................................19

7.08     Spendthrift....................................................................................19

7.09     Binding on Successors, Purchasers, Transferees and Assigns ....................................20

EXECUTION PAGE
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