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                                                                   Exhibit 10.18

                               NSP HOLDINGS L.L.C.
                          UNIT APPRECIATION RIGHTS PLAN

                                    Article 1

                                 PURPOSE OF PLAN

     1.1     PURPOSE. The purpose of the Norcross Unit Appreciation Rights Plan
is to further the long-term growth in earnings and value of Norcross Safety
Products L.L.C. and its affiliates by offering long-term incentives in addition
to current compensation to key individuals of Norcross Safety Products L.L.C.

                                    Article 2

                                   DEFINITIONS

     Whenever the following terms are used in the Norcross Safety Products
L.L.C. Unit Appreciation Rights Plan, they shall have the meanings specified
below unless the context clearly indicates to the contrary:

     2.1     ACCOUNT shall mean a bookkeeping account established by the
Committee for each Participant to which the Appreciation Rights attributable to
the Designated Units shall be credited.

     2.2     APPRECIATION RIGHT shall mean a right to an amount equal to the
difference between the Grant Value and the Exit Value of a Designated Unit.

     2.3     APPROPRIATE FORM shall mean the form provided or prescribed by the
Committee for the purpose specified by the Plan.

     2.4     BENEFICIARY shall mean such person or persons or legal entity as
may be designated by a Participant to receive benefits hereunder after such
Participant's death, or, in the absence of such designation, the personal or
legal representative of the Participant.

     2.5     BOARD shall mean the Board of Managers of the Company.

     2.6     COMMITTEE shall mean the Management Team as determined by the Board
of Managers of the Company.

     2.7     COMPANY shall mean Norcross Safety Products L.L.C.

     2.8     COMPANY VALUE shall mean the value of the Company as a whole, which
will be determined at the end of each fiscal year according to a formula equal
to six times the prior year's EBITDA minus debt (average term debt during the
year plus average revolver outstanding during the year) plus average cash (over
necessary working capital).

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     2.9     DESIGNATED UNIT shall mean a Unit under which an Appreciation Right
has been granted.

     2.10    DISABILITY or DISABLED shall mean the state of being unable to
engage in any substantial gainful activity by reason of any medically
determinable physical or mental impairment which can be expected to result in
death or which has lasted or can be expected to last for a continuous period of
not less than 60 months, such Disability to be deemed to exist when so
determined by the Committee, in its sole discretion.

     2.11    EFFECTIVE DATE shall mean the date the Plan is effective which is
January 1, 1997.

     2.12    ERISA shall mean the Employee Retirement Income Security Act of
1974, as amended.

     2.13    GRANT VALUE shall be determined at the end of the previous fiscal
year as the Company Value divided by the total number of Units (including but
not limited to Units issued and Units for which options or appreciation rights
have been granted). The Grant Value for December 31, 1996 will be $3.80.

     2.14    KEY INDIVIDUAL shall mean any individual rendering services to the
Company who is designated by the Committee as a Key Individual.

     2.15    PARTICIPANT shall mean any Key Individual who is selected by the
Committee for participation in the Plan.

     2.16    PLAN shall mean the Norcross Safety Products L.L.C. Unit
Appreciation Rights Plan.

     2.17    PLAN YEAR shall mean the 12 consecutive month period ended December
31st, including periods prior to the date on which the Plan was adopted.

     2.18    REALIZATION EVENT. A Realization Event shall mean a sale of the
Company or an initial public offering (IPO).

     2.19    RETIREMENT DATE shall mean the first day of the month coincident
with or immediately following the date on which a Participant attains age 65.

     2.20    SEPARATION DATE shall be the date on which a Participant's service
with the Company is terminated (whether on account of retirement, death,
Disability, discharge, or voluntary separation).

     2.21    UNIT shall mean a unit of Norcross Safety Products L.L.C.

     2.22    VALUATION DATE shall mean the last day of each Plan Year and such
other dates as the Committee may determine.

                                    Article 3

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                          ELIGIBILITY AND PARTICIPATION

     3.1     ELIGIBILITY. Any Key Individual is eligible to participate in the
Plan.

     3.2     PARTICIPATION. The Committee, in its sole discretion, shall select
those Key Individuals who are to participate in the Plan. A Key Individual shall
become a Participant on the date he is notified by the Committee of his
selection to participate under the Plan. After a Key Individual becomes a
Participant in the Plan, his active participation shall continue until his
Separation Date.

                                    Article 4

                  ESTABLISHMENT OF ACCOUNTS AND DETERMINATION,
                        ALLOCATION AND CREDITING OF UNITS

     4.1     ACCOUNTS. The Committee shall establish and maintain, or cause to
be maintained, a separate Account for each Participant. The Committee shall also
maintain or cause to be maintained, a record of the Appreciation Rights credited
and debited to each Participant's Account.

     4.2     DETERMINATION OF DESIGNATED UNITS. As of the Effective Date, the
number of Appreciation Rights granted and to be granted are reflected on
Appendix A.

     4.3     ALLOCATION OF APPRECIATION RIGHTS. Following the end of each fiscal
year, the Committee shall present recommendations for new grants of Appreciation
Rights and the Board will allocate the Appreciation Rights authorized by it for
such fiscal year among Participants. All Appreciation Rights shall be allocated
as of the first day of the Plan Year.

                                    Article 5

                                     VESTING

     5.1     REGULAR VESTING. Subject to the following subsections, a
Participant's interest in the Appreciation Rights credited to his Account shall
vest in accordance with the following schedule:

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<Table>
<Caption>
                 Number of Years           Vested
               Since Appreciation     (Nonforfeitable)   Forfeitable
             Right Was Allocated(1)      Percentage      Percentage
             ----------------------   ----------------   -----------
                      <S>                   <C>              <C>
                      1                      10              90

                      2                      30              70

                      3                      60              40

                      4                     100               0
</Table>

     5.2     ACCELERATED VESTING. A Participant's interest in the Appreciation
Rights credited to his Account shall be fully vested and nonforfeitable on the
earlier of the following dates:

             (a)    the date of a Participant's death, provided he dies while in
     the service of the Company; or

             (b)    the date of a Participant's Disability, provided he becomes
     Disabled while in the service of the Company; or

             (c)    the date of a Realization Event; or

             (d)    termination of the Plan.

     5.3     TERMINATION FOR CAUSE. Notwithstanding the foregoing, all
Appreciation Rights (vested or non-vested) shall be forfeited in the event of a
termination for Cause. For purposes of this Plan, "Cause" shall be deemed to
mean one or more of the following: (a) Participant's embezzlement or
misappropriation of funds, (b) Participant's conviction of a felony involving
moral turpitude, (c) Participant's commission of material acts of dishonesty,
fraud, or deceit, (d) Participant's breach of any material provisions of any
employment or service agreement with the Company to which he is a party, (e)
Participant's habitual or willful neglect of his duties, (f) Participant's
breach of fiduciary duty to the Company involving personal profit, or (g)
Participant's material violation of any other duty to the Company or its members
imposed by law or by the managers.

                                    Article 6

                            DISTRIBUTION OF BENEFITS

     6.1     VALUATION OF APPRECIATION RIGHTS.

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(1) It being understood that if a Participant has cancelled an interest in
appreciation rights in a subsidiary of the Company ("PRIOR APPRECIATION RIGHTS")
for Appreciation Rights, the number of years since the Appreciation Rights was
allocated shall be determined as of the date the Prior Appreciation Right was
allocated.

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             (a)    VALUE UPON TERMINATION. Upon a Participant's termination of
service other than for cause, the Exit Value of the Appreciation Rights of a
Participant will be fixed in value as of the Participant's Separation Date. The
Exit Value will be determined based on a weighted average of the Grant Values
for the preceding 3 years prior to the termination date as follows (the Grant
Value for the years preceding the effective date of the Plan shall be $3.80 per
unit):

<Table>
<Caption>
                                                    Weight To Be
                                 Number of Years    Given To Such
                                    Preceding       Year's Grant
                                Termination Date        Value
                                ----------------    -------------
                                       <S>               <C>
                                       1                 60%

                                       2                 30%

                                       3                 10%
</Table>

             (b)    VALUE UPON REALIZATION EVENT.

                    (1)     In the event of an IPO, the value of the
             Appreciation Rights shall be redeemed in the form of
             publicly-traded units or stock.

                    (2)     In the event of a sale for cash, notes and/or
             publicly-traded securities, the Appreciation Rights shall be
             redeemed for the same combination of cash, notes and/or publicly
             traded securities.

                    (3)     In the event of a merger in which the Company
             remains in control, the Appreciation Rights shall remain in place
             subject to appropriate dilution.

                    (4)     In lieu of the foregoing, the Company at its option,
             upon a Realization Event that is not a sale for cash, notes and/or
             publicly-traded securities, may instead liquidate the Appreciation
             Rights for cash (i) at the lower of Exit Value or then Market Value
             (as measured by the Realization Event) as to rights held by
             individuals who had previously terminated, and (ii) at the Market
             Value derived by the Realization Event as to individuals who had
             not previously terminated.

     6.2     PAYMENT FOR APPRECIATION RIGHTS.

             (a)    Notwithstanding the Company's option described in Section
6.2(b) or a Participant's option described in Section 6.2(c), payment for the
Participant's vested Appreciation

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Rights will be deferred until the occurrence of a Realization Event or the
Participant's death, Disability or Retirement Date. Upon such event, the Company
will make payment to the Participant (or the Participant's Beneficiary if the
Participant has died) in the amount of the lower of (1) the Exit Value (as
determined at the time of the Participant's termination) or (2) the Market Value
derived by the Realization Event as if all such Appreciation Rights were
outstanding.

             (b)    At any time following a Participant's termination of
service, the Company shall have the option to make payment on all vested
Appreciation Rights exercisable, based upon the Exit Value applicable to the
particular Designated Units.

             (c)    Except as provided in Section 5.3, at any time following a
Participant's termination of service but before the occurrence of a Realization
Event or the Participant's death, Disability or Retirement Date, the Participant
shall have the option to receive payment from the Company on all vested
Appreciation Rights exercisable, based upon the Exit Value applicable to the
particular Designated Units. Upon such request by a Participant, payment shall
be made by the Company within ninety (90) days of such request, unless the
amount to be paid exceeds $500,000 in which case payment shall be made within
one year of such request.

     6.3     REALIZATION EVENT. In connection with any Realization Event, and as
a condition to the receipt of any payment of Appreciation Rights, each
Participant shall take all necessary or desirable actions requested by the Board
in connection with such Realization Event, including without limitation,
execution of any and all agreements, documents and instruments presented to such
Board in the form presented to such Participant.

                                    Article 7

                                     FUNDING

     7.1     PLAN UNFUNDED. Nothing in this Plan shall be interpreted or
construed to require the Company in any manner to fund any obligation to the
Participants hereunder. Nothing contained in the Plan nor any action taken
hereunder shall create or be construed to create a trust of any kind, or a
fiduciary relationship between the Company and the Participants, Beneficiaries,
or any other persons. Any funds which may be accumulated in order to meet any
obligation under this Plan shall for all purposes continue to be a part of the
general funds of the Company, as applicable, and no person other than the
Company, as applicable, shall by virtue of the provisions of this Plan have any
interest in such amounts. To the extent that any person acquires a right to
receive payment from the Company, such rights shall be no greater than the
rights of any unsecured general creditor of the Company.

                                    Article 8

                                 ADMINISTRATION

     8.1     PLAN ADMINISTRATOR. The Committee shall be the Plan Administrator.

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     8.2     POWERS AND DUTIES OF COMMITTEE. The Committee shall administer the
Plan in accordance with its terms and shall have all the powers necessary to
carry out such terms. The Committee shall act by a majority of its members at
the time in office, and such action may be taken by a vote at a meeting or in
writing without a meeting. A member of the Committee who is a Participant in the
Plan shall not vote on any question relating specifically to such Participant.
Any such action shall be voted or decided by a majority of the remaining members
of the Committee. The Committee may appoint from its members such subcommittees
with such powers as the Committee shall determine. Either the Chairman, or a
member of the Committee designated by the Chairman, shall execute any
certificate, instrument or other written direction on behalf of the Committee.
All interpretations of the Plan, and questions concerning its administration and
application, shall be determined by the Committee, and such determination shall
be binding on all persons except as otherwise expressly provided herein.

     The Committee may appoint such accountants, counsel, specialists, and other
persons as it deems necessary or desirable in connection with the administration
of the Plan. Such accountants and counsel may, but need not, be accountants and
counsel for the Company.

     The Committee may, pursuant to a written designation, delegate to any
person or entity any of its responsibilities under the Plan.

     8.3     DETERMINATION OF ELIGIBILITY OF PARTICIPANTS. The Committee shall
determine the eligibility of Participants in accordance with the provisions of
the Plan.

     8.4     RECORDS AND REPORTS. The Committee and others to whom the Committee
has delegated fiduciary duties shall keep a record of all their proceedings and
actions and shall maintain all such books of account, records and other data as
shall be necessary for the proper administration of the Plan and to meet the
reporting and disclosure requirements of ERISA which are applicable to this
Plan. The Committee shall maintain records which shall contain all relevant data
pertaining to individual Participants and their rights under the Plan. The
Committee shall have the duty to carry into effect all rights or benefits
provided hereunder to the extent Company assets, as applicable are properly
available therefor.

     8.5     PAYMENTS OF EXPENSES. The Company shall pay all expenses of
administering the Plan. Such expenses shall include any expenses incident to the
functioning of those to whom the Committee has delegated fiduciary duties, and
those professionals and other persons appointed by the Committee including, but
not limited to, the payment of professional fees of consultants, and the costs
of administering the Plan.

     The members of the Committee shall serve without compensation for their
services, but all their expenses shall be paid by the Company.

     8.6     INDEMNIFICATION FOR LIABILITY. The Company shall indemnify the
members of the Committee and other individuals providing services to the Company
to whom the Committee has delegated fiduciary duties against any ad all claims,
losses, damages, expenses and liabilities arising

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from their responsibilities in connection with the Plan, unless the same is
determined to be due to gross negligence or willful misconduct.

     8.7     AGENT FOR SERVICE OF LEGAL PROCESS. The name and address of the
person designated for the service of legal process with respect to the Plan are
as follows:

         Name:           Robert A. Peterson

         Address:        1136 2nd Street
                         Rock Island, IL 61204

     8.8     CLAIMS PROCEDURE. Claims for benefits under the Plan shall be filed
with the Committee, on the Appropriate Form supplied by the Committee. Written
notice of the disposition of a claim shall be furnished the claimant within
ninety (90) days after the application therefor is filed. In the event the claim
is denied, the specific reasons for such denial shall be set forth, pertinent
provisions of the Plan shall be cited and, where appropriate, an explanation as
to how the claimant can perfect the claim or submit such claim for review will
be provided.

     8.9     CLAIM REVIEW PROCEDURE. Any Participant, former Participant, or
Beneficiary of either, who has been denied a benefit claim, shall be entitled,
upon written require to the Committee, to receive a written notice of such
action, together with a full and clear statement of the reasons for such action.
If the claimant wishes further consideration of his position, the claimant may
obtain the Appropriate Form from the Committee on which to request a review of
his denied claim. Such Form, together with a written statement of the claimant's
position, shall be filed with the Committee no later than sixty (60) days after
receipt of the written notification provided for above or in Section8.8. The
Committee shall make its decision within sixty (60) days after receipt of the
claimant's request for review.

                                    Article 9

                            AMENDMENT AND TERMINATION

     9.1     AMENDMENT AND TERMINATION. The Board shall have the right, at any
time by an affirmative vote of a majority thereof, to amend or terminate, in
whole or in part, the Plan, provided that such amendment or termination shall
not adversely affect the vested interest of any Participant under the Plan prior
to such amendment or termination.

                                   Article 10

                             MISCELLANEOUS PROVISION

     10.1    RIGHTS OF COMPANY TO DISCHARGE PERSONS. The adoption and
maintenance of this Plan shall not be deemed to constitute a contract between
the Company and any person, or to be a consideration for, or an inducement or
condition of, the employment or engagement of any person. Nothing herein
contained, nor any action taken hereunder, shall be deemed to give any person
the

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right to be retained by the Company or to interfere with the right of the
Company to discharge any person at any time, nor shall it be deemed to give the
Company the right to require a person to remain in its service, nor shall it
interfere with person's right to terminate his employment or service
relationship, respectively, at any time.

     10.2    ALIENATION OR ASSIGNMENT OF BENEFITS. A Participant's rights and
interest under the Plan shall not be assigned or transferred except by will or
by the laws of descent and distribution.

     10.3    RIGHT TO WITHHOLD. The Company shall have the right to deduct from
all benefit payments hereunder any taxes required by law to be withheld with
respect to such payments.

     10.4    GENDER AND NUMBER. In interpreting the Plan, the masculine gender
may include the feminine, the neuter gender may include the masculine or
feminine, and the singular may include the plural unless the context clearly
indicates otherwise.

     10.5    CONSTRUCTION. All legal questions pertaining to the Plan shall be
determined in accordance with the laws of Illinois except as otherwise preempted
by the law of the United States of America.

     10.6    HEADINGS. The headings are for reference only. In the event of a
conflict between a heading and the context of an Article or Section, the context
of the Article or Section shall control.

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     IN WITNESS WHEREOF, Norcross Safety Products L.L.C. has caused this
instrument to be duly executed by its proper officers thereunto duly authorized,
under seal, as of this 14 day of FEBRUARY, 2000.

ATTEST:
[Corporate Seal]


  /s/ David F. Myers                  /s/ Robert A. Peterson
--------------------------------    -------------------------------------
Secretary                           President

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