Document:

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                                                                   EXHIBIT 10(l)

                                 CHEMFIRST INC.
                           BENEFITS RESTORATION PLAN

                                    PREAMBLE

The purpose of the ChemFirst Inc. Benefits Restoration Plan is to restore
maximum retirement benefit levels to select members of management and key
employees who are restricted by provisions of the Federal Internal Revenue Code
and/or the Tax Reform Act of 1986.

The Benefits Restoration Plan is a non-qualified salary deferral and retirement
supplement plan made possible by ERISA (Employee Retirement Income Security Act
of 1974.)

This Plan is designed to provide retirement benefits and salary deferral
opportunities because of the following limitations imposed on the Retirement
Plan and the 401(k) Plan by the Internal Revenue Code:

     The "Section 415 Limits" restrict the benefits payable to certain
          participants in the Retirement Plan.

     The "Section 401 Limits" restrict employee contributions to the 401(k) Plan
          which results in reduced benefits and for some employees forfeiture of
          a portion of the Company's matching contribution.

     Effective in 1989, the "Section 401 Limits" specify a maximum amount of
          employee compensation that can be taken into account for determining
          qualified retirement plan benefits.

     Income deferred by an employee under the terms of this Plan reduces the
          amount of compensation that would otherwise be taken into account in
          determining benefits under the Company's Retirement Plan.
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                               TABLE OF CONTENTS
                               -----------------

       ARTICLE
      ---------

           I        Title and Effective Date                         3

          II        Definitions and Construction of Plan Document    3

         III        Participation                                    6

          IV        Deferral of Compensation                         6

           V        Deferral (401k) Account and Crediting            7

          VI        ESOP Account and Crediting                       8

         VII        Retirement Account and Crediting                 9

        VIII        Distribution                                    10

          IX        Hardship Distributions                          12

           X        Beneficiary                                     12

          XI        Administration of Plan                          13

         XII        Claims Procedure                                14

        XIII        Nature of Company's Obligation                  15

         XIV        Miscellaneous                                   15

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                                   ARTICLE I
                            TITLE AND EFFECTIVE DATE

     Section 1.01  Title.  This Plan shall be known as the ChemFirst Inc.
Benefits Restoration Plan (hereinafter referred to as the "Plan").

     Section 1.02  Effective Date.  The effective date of this document is
January 1, 1997.  This document is a complete amendment and restatement of the
First Mississippi Corporation Benefits Restoration Plan, which was originally
effective March 1, 1989.

                                   ARTICLE II
               DEFINITIONS AND CONSTRUCTION OF THE PLAN DOCUMENT

     As used herein, the following words and phrases shall have the meanings
specified below unless a different meaning is clearly required by the context:

     Section 2.01     Beneficiary.  "Beneficiary" shall mean the person or
persons or the estate of a Participant entitled to receive any benefits under
this Plan.

     Section 2.02     Board of Directors.  The term "Board of Directors" shall
mean the Board of Directors of the Company.

     Section 2.03     Bookkeeping Account.  A "Bookkeeping Account" will be
established as a bookkeeping record for each Participant of this Plan and may,
at the discretion of the Committee, include one or more sub-accounts to reflect
amounts credited to a Participant under the various terms of this Plan.

     Section 2.04     Change in Control.  "Change in Control" shall mean a
Change in Control of a nature that would be required to be reported, by persons
or entities subject to the reporting requirements of Section 14(a) of the
Securities Exchange Act of 1934 in response to item 5(f) of Schedule 14A of
Regulation 14(a) as in effect on the date hereof; or successor provisions
thereto provided that, without limitation, such a change in control shall be
deemed to have occurred if (1) any 'person' or 'group' (as those terms are used
in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934), is or
becomes the `beneficial owner' (as defined in Rule (d)-3 issued under the
Securities Exchange Act), directly or indirectly, of securities of the
Corporation representing 20% or more of the combined voting power of the
Corporation's then outstanding securities; or, if, (2) at any time during any
period of two consecutive calendar years, individuals who at the beginning of
such period constitute the Board cease for any reason to constitute at least the
majority thereof unless the election, or the nomination for election by the
Company's shareholders, of each new Director was approved by a vote of at least
two-thirds of the Directors still in office who were Directors at the beginning
of such two-year period.

     Section 2.05     Committee.  "Committee" means the Compensation Committee
of the Board of Directors (or its designee) which, along with the Board of
Directors, shall manage and administer the Plan.  Hereinafter, all references to
"Committee" are deemed to refer to the Board
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of Directors if the Board of Directors is administering the aspect of the Plan
to which the reference relates.

     Section 2.06     Company.  "Company" shall mean ChemFirst Inc., its
successors, any subsidiary or affiliated organizations authorized by the Board
of Directors of ChemFirst Inc. or the Committee to participate in this Plan with
respect to their Participants, and any organization into which or with which the
Company may merge or consolidate or to which all or substantially all of its
assets may be transferred.

     Section 2.07     Composite Return Fund.  "Composite Return Fund" shall mean
that portion of the Bookkeeping Account which, at the Participant's election, is
credited with interest at the composite yield in accordance with the terms of
Article V hereof.

     Section 2.08     Deferral Agreement.  "Deferral Agreement" means the
written form which is submitted to the Named Fiduciary before the relevant
Election Date which indicates whether the Executive or Participant wishes to
defer a portion of his compensation, indicates the portion of salary to be
deferred and designates how the deferred amounts shall be invested within the
Plan.  No Deferral Agreement shall be effective until acknowledged by the
Company.

     Section 2.09     Deferred Compensation.  "Deferred Compensation" means the
portion of a Participant's salary for any calendar year, or part thereof, that
has been deferred pursuant to the Plan.

     Section 2.10     Election Date.    The "Election Date" is the date
established by this Plan as the date before which an Executive must submit a
valid Deferral Agreement to the Committee.  The Election Dates are as follows:
(a) 30 days after adoption of the Plan for employees who are eligible to
participate at the time the Plan is adopted, (b) 30 days after a newly eligible
employee is notified of his right to participate in the Plan, (c) December 31 of
any calendar year for elections to increase salary deferrals and share unit
conversions to be effected in the next calendar year, or (d) any other date
selected by the Committee.

     Section 2.11     Election Period.  An "Election Period"  is a calendar
year unless otherwise specified by the Committee.

     Section 2.12     Executive.  "Executive" shall mean any member of
management (including Chairman of the Board) and/or highly compensated employee
who is eligible to participate in the Company's Retirement Plan or 401(k) Plan.

     Section 2.13     FMV.  "FMV" or Fair Market Value, shall mean the average
of the high and low price of a share of ChemFirst Inc. common stock on a given
date.

     Section 2.14     401(k) Plan.  "401(k) Plan" shall mean the ChemFirst Inc.
401(k) Plan.

     Section 2.15     Named Fiduciary. "Named Fiduciary", for purposes of the
claims procedure of this Plan, shall mean the Company's chief human resources
officer and/or chief financial officer as designated by the Committee.
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     Section 2.16     Participant.  "Participant" means an Executive who is
participating in the Plan.  "Active Participant" means an Executive who is
active in the management of the Company.  "Terminated Participant" means an
Executive who is no longer active in the management of  the Company.

     Section 2.17    Retirement Plan.  "Retirement Plan" shall mean the
ChemFirst Inc. qualified defined benefit retirement plan, as amended from time
to time.

     Section 2.18     Plan.  "Plan" means the ChemFirst Inc. Benefits
Restoration Plan, as described in this instrument, as amended from time to time.

     Section 2.19     Plan Year.  The "Plan Year" is the same as the calendar
year.

     Section 2.20     Retirement.  "Retirement" means a Participant's Retirement
as provided under the terms of the Retirement Plan.

     Section 2.21     Share Unit.   "Share Unit" means a phantom share of stock
which, for purposes of valuing a participant's account, hereunder, shall have a
value equal to the fair market value of a share of ChemFirst (CEM) common stock
on a given date and shall be subject to the same dividend earnings and market
value adjustments as apply to a share of CEM common stock.

     Section 2.22     Share Unit FMV.  "Share Unit FMV" is the same as FMV
(i.e., the average of the high and low price of a share of ChemFirst Inc. common
stock on a given date).

     Section 2.23     Share Unit Fund.  "Share Unit Fund" shall mean that
portion of the Bookkeeping Account which, at the Participant's election, is
invested in Share Units in accordance with the terms of Article V hereof.

     Section 2.24     Termination of Service.  "Termination of Service" or
similar expression means the termination of the Participant's employment as a
regular employee of the Company and any division, subsidiary or affiliate
thereof, other than Retirement.

     Section 2.25     Gender and Number.  Wherever the context so requires,
masculine pronouns include the feminine and singular words shall include the
plural.

     Section 2.26     Titles.  Titles of the Articles of this Plan are included
for ease of reference only and are not to be used for the purpose of construing
any portion or provision of this Plan document.

                                  ARTICLE III
                                 PARTICIPATION

     Section 3.01     Eligibility.  Eligibility for participation in this Plan
shall be determined by the Committee, in its sole discretion, on an individual
basis, but no Executive shall be selected
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for participation in this Plan unless he qualifies as a member of a select group
of management or as a highly compensated employee of the Company and is unable
to make a tax-deferred contribution to the 401(k) Plan, or receive a matching
contribution, or has an accrued ESOP or Retirement benefit that is limited by
reason of limitations imposed by the Internal Revenue Code, or because of any
salary reductions imposed by the Company because a Participant is compensated as
an independent contractor by a subsidiary of the Company.

     Section 3.02     Participation.  An Executive, after having been selected
for participation by the Committee, shall as a condition to deferring a portion
of his salary under the terms of this Plan, complete and return to the Committee
a duly executed Deferral Agreement.  A Participant who is eligible to receive a
retirement benefit from the Plan shall be provided a copy of a duly executed
Plan Acceptance.

                                   ARTICLE IV
                            DEFERRAL OF COMPENSATION

     Section 4.01     Salary Deferral.  Each Participant in the Plan may have a
percentage of his salary (determined without regard to any tax deferred
contributions under this plan, the 401(k) Plan or salary reductions on account
of compensation received as an independent contractor for a subsidiary of the
Company) deferred in accordance with the terms and  conditions of this Plan.
The percentage of such salary to be so deferred under this section shall not
exceed the maximum amount permitted by non-highly compensated employees into the
401(k) Plan less amounts deferred into the 401(k) Plan.  The specific amount
shall be determined each Plan Year by the Committee after a review of
contributions eligible to be made to the Company's 401(k) Plan by the
Participant.

     Section 4.02     Company Matching Contribution. With respect to amounts
deferred under Section 4.01, the company shall add to the Participant's
Bookkeeping Account an amount equal to the difference of the amounts described
in 4.02(a) and 4.02(b) as follows:

     Section 4.02(a)  The amount equal to the matching contribution the Company
would have made to the 401(k) Plan if the participant had made a contribution to
that Plan in an amount equal to the amount deferred under Section 4.01 without
regard to the limitations imposed by the Internal Revenue Code.

     Section 4.02(b)  The amount equal to the Company's actual matching
contribution to the 401(k) plan for such Plan Year.

     Section 4.03  Deferral Agreement.  An eligible Executive desiring to
participate in the Plan must submit his written Deferral Agreement to the Named
Fiduciary on or before the applicable Election date.  Valid Deferral Agreements
filed by the applicable Election Date as provided in Section 2.09 (a) or (b)
shall cause compensation to be deferred in the calendar year in which such
Agreement is made.  Deferral Agreements entered into under the conditions of
2.09(c) shall cause compensation to be deferred beginning January 1 of the next
calendar year.
<PAGE>

     Section 4.04   No Deferral Without Agreement.  A Participant who has not
submitted a valid Deferral Agreement to the Named Fiduciary before the relevant
Election Date may not defer any compensation for the applicable Plan Year under
this Plan.

     Section 4.05   Duration of Deferral Agreement.  Deferral Agreement
elections regarding deferral of salary to be earned in the future remain in
effect until revoked or modified by the filing of a new Deferral Agreement.

     Section 4.06   Revocation or Reduction of Deferral.  Future deferrals of
salary may be stopped or reduced at any time by filing a new Deferral Agreement.
Such revocation or reduction will be effective as soon as it is administratively
possible for the Company to make such change.

     Section 4.07   Increase of Deferrals.  A new Deferral Agreement must be
filed under the terms of Section 2.09(c) if the Participant wishes to increase
the amount of his future salary to be deferred.  Such an election becomes
effective on January 1 of the next calendar year.

                                   ARTICLE V
                     DEFERRAL (401k)  ACCOUNT AND CREDITING

     Section 5.01     Bookkeeping Account.  Salary deferred by a Participant
under a written Deferral Agreement and Company matching contributions shall be
credited in a dollar amount to a separate Bookkeeping Account for each
Participant.

     Section 5.02    Interest.  Salary deferred and matching Company
contributions, plus an amount equal to the Participant's deemed interest on
amounts invested in the Participant's Composite Return Fund, shall be credited
to the Bookkeeping Account on a quarterly basis.

     Section 5.03     Composite Return Fund Crediting Rate.  Salary deferrals
and matching Company contributions in the Participant's Composite Return Fund
shall be credited (or debited) with interest before and after distributions
commence with an amount equal to the preceding monthly composite yield (net of
investment advisory fees and expressed as a percent) on the ChemFirst Inc.
Employee's 401(k) Plan Short-Term Stability Fund, Mid-Term Balanced Fund, and
Long-Term Growth Fund as reported by the Plan's Trustee, or a substantially
similar average selected by the Committee.  Salary deferred and Company matching
contributions shall be deemed so invested on the date the amounts deferred are
credited to the Bookkeeping Account.

     Section 5.04    Share Unit Purchases.  Prior to each Election Date, Active
Participants have the option of converting any portion of their Composite Return
Fund and/or future deferrals and Company matching contributions into Share
Units. Share Units purchased through conversions of portions of the Composite
Return Fund, future deferrals and Company matching contributions will be priced
at eighty-five percent (85%) of FMV on the date of valuation ("Share Unit Price
Valuation Date").  For a Participant's initial election with respect to
conversions of the Participant's Composite Return Fund balance, which election
shall be made no later than July 16, 1997, and shall be effective as of July 16,
1997 ("Initial Share Unit Conversion Election"), the Share Unit Price Valuation
Date shall be July 16, 1997, unless the
<PAGE>

FMV of a share of CEM common stock is lower on July 1, 1997 than on July 16,
1997, in which case July 1, 1997 shall be the Share Unit Price Valuation Date.
For all other Share Unit conversion elections, the Share Unit Price Valuation
Date shall be the date on which the investment election is effective. Except for
a participant's Initial Share Unit Conversion Election, which election shall be
effective as of July 16, 1997, and, elections to decrease the amount of future
salary deferrals to be invested in Share Units, which elections shall be
effective as soon as administratively possible, all Share Unit conversion
elections hereunder shall be effective on the first business day of the
immediately following calendar year. Except for a Participant's Initial Share
Unit Investment Election, which election shall be made prior to July 16, 1997,
and elections from time to time to decrease the amount of future salary
deferrals to be invested in Share Units, all Share Unit Conversion elections
shall be made during the month of December preceding the calendar year for which
such elections shall be effective, but in no event later than December 31 of the
calendar year preceding the calendar year during which such elections shall
become effective. A Participant's Share Unit Fund shall be credited with
additional Share Units equal in value (based on the FMV of a Share Unit on the
applicable dividend record date) to the amount of cash dividends said
participant would have received had he owned one (1) share of the Company's
Common Stock for each Share Unit credited to such Participant's Share Unit Fund
on each dividend record date during the time such Participant is participating
in the Plan. A Participant's Share Unit Fund will at no time be credited with
interest.

                                   ARTICLE VI
                           ESOP ACCOUNT AND CREDITING

     Section 6.01     Bookkeeping Account.  ESOP restoration contributions shall
be credited in a dollar amount to a separate Bookkeeping Account for each
Participant.

     Section 6.02    Contribution Crediting.  ESOP restoration contributions
shall be credited to the Bookkeeping Account on the same day of the same quarter
in which the qualified ESOP contribution is credited to the Participant's
qualified ESOP account. All ESOP Contributions will be invested entirely in
Share Units.  Share Units purchased with ESOP Contributions will be priced at
100% of FMV as of the first trading day of the applicable Election Period.  A
Participant's Share Unit Fund shall be credited with additional Share Units
equal in value (based on the FMV of a Share Unit on the applicable dividend
record date) to the amount of cash dividends said Participant would have
received had he owned one (1) share of the Company's Common Stock for each Share
Unit credited to such Participant's Share Unit Fund on each dividend record date
during the time such Participant is participating in the Plan.  Dividends
credited on Share Units will be automatically reinvested in additional Share
Units purchased at FMV on the dividend reinvestment date.

                                  ARTICLE VII
                       RETIREMENT  ACCOUNT AND CREDITING

     Section 7.01    Retirement Benefit.  An Executive shall be entitled to a
retirement benefit under this Plan if benefits from the Retirement Plan are less
than such benefits would have been if the Section 415 limits did not apply, and
the definition of "Compensation" in the Retirement
<PAGE>

Plan did not exclude amounts deferred by the Executive under this Plan or any
other non-qualified deferred compensation plan maintained by the Company, and/or
for years beginning with 1989, compensation in excess of the Section 401(a) (17)
Limit.

     Section 7.02     Bookkeeping Account.  Retirement contributions shall be
credited in a dollar amount to a separate Bookkeeping Account for each
Participant.  The initial amount credited to the Participant's account as of
December 31, 1996 is the present value (PV) of the Participant's Retirement
restoration accrued benefit on that date.  Thereafter, the account will be
credited with a Company contribution as of the last day of each qualified
Retirement Plan  year in an amount equal to that year's increase in PV.  The PV
is calculated based on the "actuarial equivalent" rate and mortality table used
by the qualified Retirement Plan.

     Section 7.03    Share Unit Purchases.  Prior to each Election Date, Active
Participants have the option of converting any portion of their Retirement Fund
and/or future annual Company contributions into Share Units. Share Units
purchased with existing Retirement Funds and future Company matching
contributions will be priced at eighty-five percent (85%) of FMV on the date of
valuation ("Share Unit Price Valuation Date").  For a Participant's initial
election with respect to conversions of the Participant's Composite Return Fund
balance, which election shall be made no later than July 16, 1997, and shall be
effective as of July 16, 1997 ("Initial Share Unit Conversion Election"), the
Share Unit Price Valuation Date shall be July 16, 1997, in which case July 1,
1997 shall be the Share Unit Price Valuation Date.  For all other Share Unit
Conversion elections, the Share Unit Price Valuation date shall be the date on
which the investment election is effective.  Except for a participant's Initial
Share Unit Conversion Election, which election shall be effective as of July 16,
1997, and elections to decrease the amount of future salary deferrals to be
invested in Share Units, which elections shall be effective as soon as
administratively possible, all Share Unit Conversion elections hereunder shall
be effective on the first business day of the immediately following calendar
year.  A Participant's Share Unit Fund shall be credited with additional Share
Units equal in value (based on the FMV of a Share Unit on the applicable
dividend record date) to the amount of cash dividends said Participant would
have received had he owned one (1) share of the Company's Common Stock for each
Share unit credited to such Participant's Share Unit Fund on each dividend
record date during the time such Participant is participating in the Plan.

                                  ARTICLE VIII
                                  DISTRIBUTION

     Section 8.01     Distribution of Account Balance.  Distribution of the
value of a Participant's Bookkeeping Account balance shall be made according to
the terms of the Participant's Deferral Agreement and this Plan.

     Section 8.02     Nonforfeitable Right to Employee Contributions.  The
Participant shall have a nonforfeitable right to the value of his Bookkeeping
Account attributable to his contributions under Section 4.01 of Article IV
hereof plus interest where applicable under the terms of this Plan.
<PAGE>

     Section 8.03     Vesting of Company Contributions.   The Participant shall
vest in any Company contributions plus earnings thereon as provided under the
terms of the vesting schedule of the applicable qualified Plan.

     Section 8.04   Loans.  No loans to Participants of amounts in a
Participant's Bookkeeping shall be permitted.

     Section 8.05     Distribution of Composite Return Fund.  Distributions of a
Participant's Composite Return Fund shall be made in cash and in any form
permitted under the terms of the Deferral Agreement.

     Section 8.06     Distribution of Share Unit Fund.  Distributions of a
Participant's Share Unit Fund shall be made in cash or ChemFirst common stock
(provided any required shareholder approval of payment in the form of CEM common
stock is obtained) at the discretion of the Committee, and in any form permitted
under the terms of the Deferral Agreement. In the case of voluntary resignation
or retirement, if the Participant elects a lump-sum payout, all Share Unit
conversions of account balances which occur within two (2) years prior to the
due date of the lump-sum payout will not be eligible for the fifteen percent
(15%) discount.  However, purchases of share units using contributions earned
within two years of voluntary resignation or retirement will be eligible for the
fifteen percent (15%) discount, even if the participant elects to receive a
lump-sum payout.

Notwithstanding the above, if a participant elects to receive his benefit payout
in annual installments, he will be entitled to the fifteen percent (15%)
discount on all share unit conversions of existing assets, even those
conversions occurring within two years of voluntary resignation or retirement.

     Section 8.06     Distribution of Retirement Fund.  Distribution of a
Participant's Retirement Fund shall be paid in cash and any form permitted under
the terms of the qualified Retirement Plan.

     Section 8.07     Withholding for Taxes.  The Company shall be entitled to
withhold from payments due under the Plan any and all taxes of any nature
required by any government to be withheld from compensation paid to employees.

     Section 8.08     Payout of Account Balances.  In the case of lump sum
payout of account balance, for purposes of determining the amount of such lump
sum payout interest shall accrue on the portion of the account invested in the
Composite Return Fund up to the date of the payment of the lump sum amount at
the composite yield specified in Section 5.03 hereof.  Each Share Unit in the
Share Unit Fund will be valued at the FMV of a share of ChemFirst Common Stock
on the first business and trading day of the calendar year during which the lump
sum payment is to be made. The lump sum payment will be made in the year
following the termination event.

In the case of payout in annual installments, each such annual installment shall
be composed of two (2) parts, with one part representing the return of the
portion of the Bookkeeping Account
<PAGE>

which is invested in the Composite Return Fund ("Interest Portion") and the
other part representing the return of the portion of the Bookkeeping Account
which is invested in the Share Unit Fund ("Share Unit Portion"). The Interest
Portion of each annual installment shall be calculated as follows.

     (i)  The first installment payment will be based on the assumption that the
interest rate used to calculate the ten (10) annual payments remains constant
for the full term of the benefit payout.  The deemed-constant interest rate used
in this calculation will be equal to the monthly composite yield (net of
investment advisory fees and expressed as a percent) on the ChemFirst Inc.
Employee's 401(k) Plan Short-Term Stability Fund, Mid-Term Balanced Fund, and
Long-Term Growth Fund as reported by the Plan's Trustee, or a substantially
similar average selected by the Committee, for the month preceding the month
during which the first installment is to be paid.

     (ii)  For all subsequent annual payments, the amount of each annual payment
will be calculated based on the assumption that an interest rate equal to the
monthly composite yield (net of investment advisory fees and expressed as a
percent) on the ChemFirst Inc. Employee's 401(k) Plan Short-Term Stability Fund,
Mid-Term Balanced Fund, and Long-Term Growth Fund as reported by the Plan's
Trustee, or a substantially similar average selected by the Committee for the
month preceding the month of said payment shall be the applicable interest rate
for the remainder of the payout period.  The amount of the annual payment will
be recalculated annually with adjustments made for previous benefit payments and
the actual number of remaining payments based on an assumed constant interest
rate.

The Share Unit Portion of each installment payment shall be calculated as
follows:

     (i)  The number of Share Units in the Share Unit Fund as of the December 31
of the year of termination will be divided by ten.  This quotient shall
hereinafter be referred to as the "SU Quotient".

     (ii)  The Share Unit Portion of each installment payment shall be for an
amount equal to the SU Quotient times the FMV of a share of ChemFirst Common
Stock on the first business and trading day of the calendar year during which
said installment is to be paid.  After each such Share Unit Portion installment
payment, an amount of Share Units equal to the SU Quotient shall be deducted
from the payment recipient's Share Unit Fund.  Payment amounts will fluctuate
annually according to variations in the ChemFirst Common Stock market price from
one payment date to the next.  Share Units credited to the Participant's Share
Unit Fund subsequent to December 31 of the year of termination on account of
dividend credits shall be accumulated and added to the SU Quotient which applies
to the final Share Unit Portion installment payment to which the Participant is
entitled.

                                   ARTICLE IX
                             HARDSHIP DISTRIBUTIONS

     Section 9.01  Hardship.  At the request of a Participant before or after
the
<PAGE>

Participant's Retirement or Termination of Service, or at the request of the
Participant's Beneficiary after the Participant's death, the Plan Committee may,
in its sole discretion, accelerate and pay all or part of the value of a
Participant's Bookkeeping Accounts due under this Plan. Accelerated
distributions at the request of the Participant or a Participant's Beneficiary
may be allowed only in the event of a financial emergency beyond the
Participant's or Beneficiary's control due to unforeseeable circumstances and
only if disallowance of a distribution would create a severe hardship for the
Participant or Beneficiary. An accelerated distribution must be limited to only
that amount necessary to relieve the financial emergency.

Hardship distributions can be made from any of the Participant's investment
funds. In the case of a hardship withdrawal where Share Units are being
exchanged for cash, the Share Units will be valued at Share Unit FMV as of the
date the Committee approved the hardship withdrawal.  The Participant will earn
interest on the Composite Return Account through that date.  Any Retirement
funds withdrawn will be valued based on the same actuarial calculation used by
the qualified retirement plan for lump-sum payouts.

                                   ARTICLE X
                                  BENEFICIARY

     Section 10.01     Beneficiary Designation.  A Participant shall designate
his Beneficiary to receive benefits under the Plan by completing a Beneficiary
designation form.  If more than one Beneficiary is named, the shares and/or
precedence of each Beneficiary shall be indicated.  A Participant shall have the
right to change the Beneficiary by submitting to the Committee a change of
Beneficiary form.  However, no change of Beneficiary shall be effective until
acknowledged in writing by the Company.

     Section 10.02     Proper Beneficiary.  If the Company has any doubt as to
the proper Beneficiary to receive payments hereunder, the Company shall have the
right to withhold such payments until the matter is finally adjudicated.
However, any payment made by the Company, in good faith and in accordance with
this Plan, shall fully discharge the company from all further obligations with
respect to that payment.

     Section 10.03     Minor or Incompetent Beneficiary.    In making any
payments to or from the benefit of any minor or an incompetent Beneficiary, the
Committee, in its sole and absolute discretion may make a distribution to a
legal or natural guardian or other relative of a minor or court appointed
committee of such incompetent.  Or, it may make a payment to any adult with whom
the minor or incompetent temporarily or permanently resides.  The receipt by a
guardian, committee, relative or other person shall be a complete discharge to
the Company.  Neither the Committee nor the company shall have any
responsibility to see to the proper application of any payments so made.

                                   ARTICLE XI
                           ADMINISTRATION OF THE PLAN

     Section 11.01     Majority Vote.  All resolutions or other actions taken by
the Committee shall be by vote of a majority of those present at a meeting at
which a majority of the members are present, or in writing by all the members at
the time in office if they act without a meeting.
<PAGE>

     Section 11.02     Finality of Determination.  Subject to the Plan, the
Committee shall, from time to time, establish rules, forms and procedures for
the administration of the Plan.  Except as herein otherwise expressly provided,
the Committee shall have the exclusive right to interpret the Plan and to decide
any and all matters arising thereunder or in connection with the administration
of the Plan, and it shall endeavor to act, whether by general rules or by
particular decisions, so as not to discriminate in favor of or against any
person.  The decisions, actions and records of the Committee shall be conclusive
and binding upon the company and all persons having or claiming to have any
right or interest in or under the Plan.

     Section 11.03     Certificates and Reports.  The members of the Committee
and the officers and directors of the Company shall be entitled to rely on all
certificates and reports made by any duly appointed accountants, and on all
opinions given by any duly appointed legal counsel, which legal counsel may be
counsel for the Company.

     Section 11.04    Indemnification and Exculpation.  The Company shall
indemnify and save harmless each member of the Committee against any and all
expenses and liabilities arising out of his membership on the Committee.
Expenses against which a member of the Committee shall be indemnified hereunder
shall include, without limitation, the amount of any settlement or judgment,
costs, counsel fees, and related charges reasonably incurred in connection with
a claim asserted, or a proceeding brought or settlement thereof.  The foregoing
right of indemnification shall be in addition to any other rights to which any
such member of the Committee may be entitled as a matter of law.

     Section 11.05     Expenses.  The expenses of administering the Plan shall
be borne by the Company.

                                  ARTICLE XII
                                CLAIMS PROCEDURE

     Section 12.01     Written Claim.  Retirement benefits and the value of a
Participant's Bookkeeping Account shall be paid in accordance with the
provisions of the agreement and any applicable Deferral Agreement.  The
Participant, or a designated recipient or any other person claiming through the
Participant shall make a written request for benefits under this agreement.
This written claim shall be mailed or delivered to the Manager of Employee
Benefits and shall be reviewed by the Names Fiduciary or his delegate.

     Section 12.02     Denied Claim.  If the claim is denied, in full or in
part, the Named Fiduciary shall provide a written notice within ninety (90) days
setting forth the specific reasons for denial, and any additional material or
information necessary to perfect the claim, and an explanation of why such
material or information is necessary, and appropriate information and
explanation of the steps to be taken if a review of the denial is desired.

     Section 12.03     Review Procedure.  If the claim is denied and a review is
desired, the Participant (or Beneficiary) shall notify the Named Fiduciary in
writing within sixty (60) days after receipt of the written notice of denial (a
claim shall be deemed denied if the Named
<PAGE>

Fiduciary does not take any action within the aforesaid ninety (90) day period).
In requesting a review, the Participant or his Beneficiary may request a review
of the Plan Document or their pertinent documents with regard to the employee
benefit plan created under this agreement, may submit any written issues and
comments, may request an extension of time for such written submission of issues
and comments, and may request that a hearing be held, but the decision to hold a
hearing shall be within the sole discretion of the Committee.

     Section 12.04    Committee Review.  The decision on the review of the
denial claim shall be rendered by the Committee within sixty (60) days after the
receipt of the request for review (if a hearing is not held) or within sixty
(60) days after the hearing if one is held.  The decision shall be written and
shall state the specific reasons for the decision including reference to
specific provisions of this Plan on which the decision is based.

                                  ARTICLE XIII
                         NATURE OF COMPANY'S OBLIGATION

     Section 13.01     Company's Obligation.  The Company's obligations under
this Plan shall be an unfunded and unsecured promise to pay.  The Company shall
not be obligated under any circumstances to fund its financial obligations under
this Plan.

     Section 13.02     Creditor Status.  Any assets which the Company may
acquire or set aside to help cover its financial liabilities are and must remain
general assets of the Company subject to the claims of its creditors.  Neither
the Company nor this Plan gives the Participant any beneficial ownership
interest in any asset of the Company.  All rights of ownership in any such
assets are and remain in the Company and Participants and their beneficiaries
shall have only the rights of general creditors of the Company.

                                  ARTICLE XIV
                                 MISCELLANEOUS

     Section 14.01     Written Notice.  Any notice which shall be or may be
given under the Plan or a Deferral Agreement shall be in writing and shall be
mailed by United States mail, postage prepaid.  If notice is to be given to the
Company, such notice shall be addressed to the Company at P. O. Box 1249,
Jackson, Mississippi 39215-1249, marked for the attention of the Manager of
Employee Benefits of the Company or if notice to a Participant, addressed to the
address shown on such Participant's Deferral Agreement.

     Section 14.02     Change of Address.  Any party may, from time to time,
change the address to which notices shall be mailed by giving written notice of
such new address.

     Section 14.03     Merger, Consolidation or Acquisition.  The Plan shall be
binding upon the Company, its assigns, and any successor Company which shall
succeed to substantially all of its assets and business through merger,
acquisition or consolidation, and upon an Executive, his Beneficiary, assigns,
heirs, executors and administrators.
<PAGE>

     Section 14.04     Amendment and Termination.  The Company retains the sole
and unilateral right to terminate, amend, modify, or supplement this Plan, in
whole or part, at any time.  This right includes the right to make retroactive
amendments.  However, no Company action under this right shall reduce the
Bookkeeping Account of any Participant or his Beneficiary.  In the event of a
Change of Control, the Plan cannot be modified, amended or terminated without
the written consent of all Beneficiaries in payment status and Participants.

     Section 14.05     Nontransferability.  Except insofar as prohibited by
applicable law, no sale, transfer, alienation, assignment, pledge,
collateralization or attachment of any benefits under this Plan shall be valid
or recognized by the Company.  Neither the Participant, his spouse, or
designated Beneficiary shall have any power to hypothecate, mortgage, commute,
modify, or otherwise encumber in advance of any of the benefits payable
hereunder, nor shall any of said benefits be subject to seizure for the payment
of any debts, judgments, alimony maintenance, owed by the Participant or his
Beneficiary, or be transferable by operation of law in the event of bankruptcy,
insolvency, or otherwise.

     Section 14.06     Legal Fees.  All reasonable legal fees incurred by any
Participant (or former Participant) or Beneficiary to successfully enforce his
valid rights under this Plan shall be paid by the Company in addition to sums
due under this Plan.

     Section 14.07     Acceleration of Payment.  The Company reserves the right
to accelerate the payment of any benefits payable under this Plan at any time
without the consent of the Participant, his estate, his Beneficiary or any other
person claiming through the Participant.  For the purpose of establishing fund
value on the date of the accelerated payment, the Plan will use the same
calculations used in the case of a hardship withdrawal as described under
Section 9.01.

     Section 14.08     Applicable Law.  This Plan shall be governed by the laws
of the state of Mississippi.

     IN WITNESS WHEREOF, the Company has caused this instrument to be executed
by its duly authorized officer on this 20th day of November, 1997, effective as
of the 1st day of January, 1997.

                                          CHEMFIRST INC.

                                          By:  /s/ William B. Kemp, Jr.

                                          Title:  VP Human Resources<PAGE>

                                                                   EXHIBIT 10(y)

                               CLECO CORPORATION

                         EXECUTIVE EMPLOYMENT AGREEMENT
                                   (LEVEL 1)

     THIS AGREEMENT (the "Agreement") is entered into as of this 28th day of
July, 2000, by and between DAVID M. EPPLER ("Executive"), and Cleco Corporation,
a Louisiana corporation (the "Company"), and is intended to amend and restate,
in its entirety, that certain Executive Severance Agreement between Cleco
Utility Group Inc. and Executive, initially effective as of July 1, 1992.

                            1.  EMPLOYMENT AND TERM

     1.1  POSITION.  The Company shall employ and retain Executive as its
President and Chief Executive Officer or in such other capacity or capacities as
shall be mutually agreed upon, from time to time, by Executive and the Company,
and Executive agrees to be so employed, subject to the terms and conditions set
forth herein. Executive's duties and responsibilities shall be those assigned to
him hereunder, from time to time, by the Board of Directors of the Company and
shall include such duties as are the type and nature normally assigned to
similar executive officers of a corporation of the size, type and stature of the
Company.  Executive shall report to the Board of Directors.

     1.2  CONCURRENT EMPLOYMENT.  During the term of this Agreement, Executive
and the Company acknowledge that Executive may be concurrently employed by the
Company and a subsidiary or other entity with respect to which the Company owns
(within the meaning of Section 425(f) of the Internal Revenue Code of 1986, as
amended (the "Code")) 50% or more of the total combined voting power of all
classes of stock or other equity interests (an "Affiliate"), and that all of the
terms and conditions of this Agreement shall apply to such concurrent
employment.  Reference to the Company hereunder shall be deemed to include any
such concurrent employers.

     1.3  FULL TIME AND ATTENTION.  During the term of this Agreement and any
extensions or renewals thereof, Executive shall devote his full time, attention
and energies to the business of the Company and will not, without the prior
written consent of the Board of Directors of the Company, be engaged (whether or
not during normal business hours) in any other business or professional
activity, whether or not such activities are pursued for gain, profit or other
pecuniary advantage.

     Notwithstanding the foregoing, Executive shall not be prevented from (a)
engaging in any civic or charitable activity for which Executive receives no
compensation or other pecuniary advantage, (b) investing his personal assets in
businesses which do not compete with the Company, provided that such investment
will not require any services on the part of Executive in the operation of the
affairs of the businesses in which investments are made and provided further
that Executive's participation in such businesses is solely that of an investor,
or (c) purchasing
<PAGE>

securities in any corporation whose securities are regularly traded, provided
that such purchases will not result in Executive owning beneficially at any time
5% or more of the equity securities of any corporation engaged in a business
competitive with that of the Company.

     1.4  TERM.  Executive's employment under this Agreement shall commence as
of July 28, 2000 (the "Effective Date"), and shall terminate on July 28, 2003
(such date or the last day of employment specified in any renewal or amendment
hereof referred to herein as the "Termination Date") (the period commencing as
of the Effective Date and ending as of the Termination Date referred to herein
as the "Employment Term").

     Commencing on the second anniversary of the Effective Date and each
anniversary thereafter, Executive's employment shall automatically be extended
for an additional one-year period; provided, however, that either party may
provide written notice to the other that the Employment Term will not be further
extended, such notice to be provided not later than 30 days prior to the end of
the then current Employment Term.

                         2.  COMPENSATION AND BENEFITS

     2.1  BASE COMPENSATION.  The Company shall pay Executive an annual salary
equal to his annual base salary in effect as of the Effective Date, such amount
shall be prorated and paid in equal installments in accordance with the
Company's regular payroll practices and policies and shall be subject to
applicable withholding and other applicable taxes (Executive's "Base
Compensation").  Executive's Base Compensation shall be reviewed no less often
than annually and may be increased or reduced by the Board of Directors of the
Company (the "Board"), in its sole discretion; provided, however, that
Executive's Base Compensation may not be reduced at any time unless such
reduction is part of a reduction in pay uniformly applicable to all officers of
the Company.

     2.2  ANNUAL INCENTIVE BONUS.  In addition to the foregoing, Executive shall
be eligible for participation in the Annual Incentive Compensation Plan or
similar bonus arrangement maintained by the Company or an Affiliate or such
other bonus or incentive plans which the Company or its Affiliates may adopt,
from time to time, for similarly situated executives (an "Incentive Bonus").

     2.3  LONG-TERM INCENTIVES.  In addition to the foregoing, Executive shall
be eligible for participation in the 2000 Long-Term Incentive Compensation Plan
maintained by the Company and such other long-term incentive plans which the
Company or its Affiliates may adopt, from time to time, for similarly situated
executives (a "Long-Term Incentive").

     2.4  SUPPLEMENTAL RETIREMENT BENEFIT.  In addition to the foregoing,
Executive shall be eligible to participate in the Supplemental Executive
Retirement Plan maintained by Cleco Utility Group Inc. or such other
supplemental retirement benefit plans which the Company or its Affiliates may
adopt, from time to time, for similarly situated executives (the "Supplemental
Plan").

                                                                          Page 2
<PAGE>

     2.5  OTHER BENEFITS. During the term of this Agreement and in addition to
the amounts otherwise provided herein, Executive shall participate in such
plans, policies, and programs as may be maintained, from time to time, by the
Company or its Affiliates for the benefit of senior executives or employees,
including, without limitation, profit sharing, life insurance, and group medical
and other welfare benefit plans.  Any such benefits shall be determined in
accordance with the specific terms and conditions of the documents evidencing
any such plans, policies, and programs.

     2.6  REIMBURSEMENT OF EXPENSES.   The Company shall reimburse Executive for
such reasonable and necessary expenses as are incurred in carrying out his
duties hereunder, consistent with the Company's standard policies and annual
budget.  The Company's obligation to reimburse Executive hereunder shall be
contingent upon the presentment by Executive of an itemized accounting of such
expenditures.

                                3.  TERMINATION

     3.1  TERMINATION PAYMENTS TO EXECUTIVE.  As set forth more fully in this
Section 3 and except as provided in Sections 3.3 or 3.8 hereof, Executive shall
be paid the greater of the amounts or benefits set forth below or the amounts or
benefits provided under the terms of the separate plan or arrangement maintained
by the Company (or its Affiliates) on account of termination of employment
hereunder:

     a.   Executive's Base Compensation accrued but not yet paid as of the date
          of his termination.

     b.   Executive's Base Compensation payable until the Termination Date
          (determined without regard to the automatic renewal provisions of
          Section 1.4 hereof), but not less than 100% of such annual Base
          Compensation.

     c.   Executive's Incentive Bonus payable with respect to the year of his
          termination, prorated to reflect Executive's actual period of service
          during such year.

     d.   Executive's Incentive Bonus payable in the target amount for the year
          in which his termination of employment occurs.

     e.   If Executive's principal office is located in Pineville, Louisiana,
          the Company shall, at the written request of Executive:

          i.   Purchase his principal residence if such residence is located
               within 60 miles of the Company's Pineville, Louisiana office (the
               "Principal Residence") for an amount equal to the greater of (1)
               the purchase price of such Principal Residence plus the
               documented cost of any capital improvements to the Principal
               Residence made by Executive, or (2) the fair market value of such
               Principal Residence as determined by the Company's usual
               relocation practice; and

                                                                          Page 3
<PAGE>

          ii.  Pay or reimburse Executive for the cost of relocating Executive,
               his family and their household goods and other personal property,
               in accordance with the Company's usual relocation practice, to
               any location in the United States.

          Notwithstanding the foregoing, the Company shall not be obligated
          hereunder, unless, within 12 months after the termination of his
          employment with the Company (and its Affiliates), the Company is
          requested to purchase such Principal Residence or Executive has
          actually relocated from the Pineville, Louisiana area.

     f.   If Executive and/or his dependents elects to continue group medical
          coverage, within the meaning of Code Section 4980B(f)(2), with respect
          to a group health plan sponsored by the Company or an Affiliate (other
          than a health flexible spending account under a self-insured medical
          reimbursement plan described in Code Sections 125 and 105(h)), the
          Company shall pay the continuation coverage premium for the same type
          and level of group health plan coverage received by Executive and his
          electing dependents immediately prior to such termination of
          Executive's employment for the maximum period provided under Code
          Section 4980B.

     g.   Executive shall be fully vested for purposes of any service or similar
          requirement imposed under the Cleco Utility Group Inc. Supplemental
          Executive Retirement Plan (the "Supplemental Plan"), regardless of the
          actual number of years of service attained by Executive.

Except as expressly provided in Section 3.3 hereof, Executive shall also be
entitled to receive such compensation or benefits as may be provided under the
terms of a separate plan or amendment maintained by the Company (or its
Affiliates) to the extent such compensation or benefits are not duplicative of
the compensation or benefits described above.

     3.2  TERMINATION FOR DEATH OR DISABILITY.  If Executive dies or becomes
disabled during the Employment Term, this Agreement and Executive's employment
hereunder shall immediately terminate and the Company's obligations hereunder
shall automatically cease.  In such event, the Company shall pay to Executive
(or his estate) the amounts described in Sections 3.1a and 3.1c hereof.  Payment
shall be made in the form of one or more single-sums as soon as practicable
after Executive's death or disability or as and when such amounts are
ascertainable.

     For purposes of this Section 3.2, Executive shall be deemed "disabled" if
he or she is actually receiving benefits or is eligible to receive benefits
under the Company's (or an Affiliate's) separate long-term disability plan. The
Board shall determine whether Executive is disabled hereunder.

                                                                          Page 4
<PAGE>

     3.3  COMPANY'S TERMINATION FOR CAUSE.  This Agreement and Executive's
employment hereunder may be terminated by the Company on account of Cause.  In
such event, the Company shall pay to Executive the amount described in Section
3.1a hereof.  Payment shall be made in the form of a single-sum not later than
three days after such termination.  Notwithstanding any provision of this
Agreement or any other plan, policy or agreement evidencing any other
compensation arrangement or benefit payable to Executive, no additional amount
shall be paid to Executive, except as may be required by law.

     For purposes of this Agreement "Cause" means that Executive has:

     a.   Committed an intentional act of fraud, embezzlement or theft in the
          course of his employment or otherwise engaged in any intentional
          misconduct which is materially injurious to the Company's (or an
          Affiliate's) financial condition or business reputation;

     b.   Committed intentional damage to the property of the Company (or an
          Affiliate) or committed intentional wrongful disclosure of
          Confidential Information (as defined in Section 5.2) which is
          materially injurious to the Company's (or an Affiliate's) financial
          condition or business reputation;

     c.   Intentionally refused to perform the material duties of his position;
          or

     d.   A material breach of this Agreement by Executive.

No act or failure to act on the part of Executive will be deemed "intentional"
if it was due primarily to an error in judgment or negligence, but will be
deemed "intentional" only if done or omitted to be done by Executive not in good
faith and without reasonable belief that his action or omission was in the best
interest of the Company (or an Affiliate).

     The Board, acting in good faith, may terminate Executive's employment
hereunder on account of Cause (or may determine that any termination by the
Company is on account of Cause).  The Board shall provide written notice to
Executive, including a description of the specific reasons for the determination
of Cause.  Executive shall have the opportunity to appear before the Board, with
or without legal representation, to present arguments and evidence on his
behalf.  Following such presentation (or upon Executive's failure to appear),
the Board, by an affirmative vote of not less than 66% of its members, shall
confirm that the actions or inactions of Executive constitute Cause hereunder.

     3.4  EXECUTIVE'S CONSTRUCTIVE TERMINATION. Executive may terminate this
Agreement and his employment hereunder on account of a Constructive Termination
upon 30 days prior written notice to the Board of Directors (or such shorter
period as may be agreed upon by the parties hereto.)  In such event, the Company
shall provide to Executive (a) the amount described in Section 3.1a hereof,
payable not later than three days after his termination of employment, (b) the
amounts determined under Sections 3.1b and 3.1d hereof, payable in not more than
two equal installments, one-half not later than 30 days after termination and
the other

                                                                          Page 5
<PAGE>

one-half six months after such termination, and (c) the benefits described in
Sections 3.1e, 3.1f and 3.1g hereof.

     For purposes of this Agreement, "Constructive Termination" means:

     a.   A material reduction (other than a reduction in pay uniformly
          applicable to all officers of the Company) in the amount of
          Executive's Base Compensation;

     b.   A material reduction in Executive's authority, duties or
          responsibilities from those contemplated in Section 1.1 of this
          Agreement; or

     c.   A material breach of this Agreement by the Company or its Affiliates.

No event or condition described in this Section 3.4 shall constitute a
Constructive Termination unless (a) Executive promptly gives the Company notice
of his objection to such event or condition, which notice may be provided orally
or in writing to the Board of Directors or his designee, (b) such event or
condition is not corrected by the Company promptly after receipt of such notice,
but in no event more than 30 days after receipt of notice, and (c) Executive
resigns his employment with the Company (and all Affiliates) not more than 15
days following the expiration of the 30-day period described in subparagraph (b)
hereof.

     3.5  TERMINATION BY THE COMPANY, WITHOUT CAUSE.  The Company may terminate
this Agreement and Executive's employment hereunder, without Cause, upon 30 days
prior written notice to Executive (or such shorter period as may be agreed upon
by Executive and the Board of Directors.)  In such event, the Company shall
provide to Executive (a) the amount described in Section 3.1a hereof, payable
not later than three days after such termination, (b) the amounts determined
under Sections 3.1b and 3.1d hereof, payable in not more than two equal
installments, one-half not later than 30 days after termination and the other
one-half six months after such termination, and (c) the benefits described in
Sections 3.1e, 3.1f and 3.1g hereof.

     3.6  TERMINATION BY EXECUTIVE.  Executive may terminate this Agreement and
his employment hereunder, other than on account of Constructive Termination,
upon 30 days prior written notice to the Company or such shorter period as may
be agreed upon by the Board of Directors and Executive.  In such event, the
Company shall pay to Executive the amount described in Section 3.1a hereof.
Payment shall be made in the form of a single-sum not later than three days
after such termination.  No additional payments or benefits shall be due
hereunder, except as may be provided under a separate plan, policy or program
evidencing such compensation arrangement or benefit or as may be required by
law.

     3.7  RETURN OF PROPERTY.  Upon termination of this Agreement for any
reason, Executive shall promptly return to the Company all of the property of
the Company (and its Affiliates), including, without limitation, automobiles,
equipment, computers, fax machines, portable telephones, printers, software,
credit cards, manuals, customer lists, financial data, letters, notes,
notebooks, reports and copies of any of the above and any Confidential

                                                                          Page 6
<PAGE>

Information (as defined in Section 5.2 hereof) that is in the possession or
under the control of Executive.

     3.8  CONSIDERATION FOR OTHER AGREEMENTS.  Executive acknowledges that all
or a portion of the amount payable under Section 3.1d hereof is in excess of the
amount otherwise due or payable under the Annual Incentive Compensation Plan and
that the payment of such excess amount shall constitute adequate consideration
for the execution of such separate waivers or releases as the Company (or
Affiliate) may request Executive to execute in connection with the termination
of his employment hereunder.  Executive agrees that failure to execute any such
waiver or release within the time request by the Company shall result in the
forfeiture of the excess amount payable under Section 3.1d hereof.

                 4.  CHANGE IN CONTROL AND BUSINESS TRANSACTION

     4.1  DEFINITIONS.  The terms "Change in Control" and "Business Transaction"
shall have the meanings ascribed to them in the Cleco Corporation 2000 Long-Term
Incentive Compensation Plan, as the same may be amended from time to time.

     The term "Good Reason," when used herein, shall mean that in connection
with a Change in Control:

     a.   Executive's Base Compensation in effect immediately before such Change
          in Control is reduced or there is a significant reduction or
          termination of Executive's rights to any employee benefit in effect
          immediately prior to the Change in Control;

     b.   Executive's authority, duties or responsibilities are significantly
          reduced from those contemplated in Section 1.1 hereof or Executive has
          reasonably determined that, as a result of a change in circumstances
          that significantly affects his employment with the Company (or an
          Affiliate), he or she is unable to exercise the authority, power,
          duties and responsibilities contemplated in Section 1.1 hereof;

     c.   Executive is required to be away from his office in the course of
          discharging his duties and responsibilities under this Agreement
          significantly more than was required prior to the Change in Control;
          or

     d.   Executive is required to transfer to an office or business location
          located more than 60 miles from the location to which he or she was
          assigned prior to the Change in Control.

No event or condition described in this Section 4.1 shall constitute Good Reason
unless (a) Executive gives the Company notice of his objection to such event or
condition within a reasonable period after Executive learns of such event, which
notice may be delivered orally or in writing to the Board of Directors  (or his
designee), (b) such event or condition is not promptly

                                                                          Page 7
<PAGE>

corrected by the Company, but in no event later than 30 days after receipt of
such notice, and (c) Executive resigns his employment with the Company (and its
Affiliates) not more than 60 days following the expiration of the 30-day period
described in subparagraph (b) hereof.

     4.2  TERMINATION IN CONNECTION WITH A CHANGE IN CONTROL.  If Executive's
employment described herein is terminated by the Company, without Cause (as
defined in Section 3.3 hereof), or Executive terminates his employment hereunder
for Good Reason at any time within the 60-day period preceding or 36-month
period following such Change in Control, then notwithstanding any provision of
this Agreement to the contrary and in lieu of any compensation or benefits
otherwise payable hereunder:

     a.   The Company shall pay to Executive the amount described in Section
          3.1a in the form of a single-sum not later than three days after such
          termination.

     b.   The Company shall pay to Executive the amount described in Section
          3.1d in the form of a single-sum not later than 30 days after such
          termination.

     c.   The Company shall pay an amount equal to three times Executive's "base
          amount" as determined under Code Section 280G, payable in the form of
          a single-sum not later than 30 days after such termination.

     d.   The Company shall provide to Executive and his dependents coverage
          under the Company's or an Affiliate's group medical plan for the same
          type and level of health benefits received by Executive and his
          dependents immediately prior to such termination for a period of three
          years or until Executive and/or his dependents obtain coverage under a
          reasonably satisfactory group health plan with no applicable
          preexisting condition limitation, whichever comes first; such coverage
          to be in addition to any coverage available to Executive and his
          dependents under Code Section 4980B.

     e.   Vesting shall be accelerated, any restrictions shall lapse, and all
          performance objectives shall be deemed satisfied as to any outstanding
          grants or awards made to Executive under the 2000 Long-Term Incentive
          Compensation Plan and/or the 1990 Long-Term Incentive Compensation
          Plan.  Executive shall be entitled to such additional benefits or
          rights as may be provided in the documents evidencing such plans or
          the terms of any agreement evidencing such grant or award.

     f.   Executive shall be fully vested for purposes of any service or similar
          requirement imposed under the Supplemental Plan, regardless of the
          actual number of years of service attained by Executive.  Executive
          shall be credited with an additional three years of age for purposes
          of determining his benefit percentage under the Supplemental Plan, but
          in no event shall such benefit percentage be less than 50%; and
          Executive shall be credited with an additional three years of age for
          purposes of determining any reduction taken with respect to benefits
          commencing before Executive's normal retirement date (as defined in
          such plan).

                                                                          Page 8
<PAGE>

     g.   If Executive's principal office is located in Pineville, Louisiana,
          the Company shall, at the written request of Executive:

          i.   Purchase his principal residence if such residence is located
               within 60 miles of the Company's Pineville, Louisiana office (the
               "Principal Residence") for an amount equal to the greater of (1)
               the purchase price of such Principal Residence plus the
               documented cost of any capital improvements to the Principal
               Residence made by Executive, or (2) the fair market value of such
               Principal Residence as determined by the Company's usual
               relocation practice; and

          ii.  Pay or reimburse Executive for the cost of relocating Executive,
               his family and their household goods and other personal property,
               in accordance with the Company's usual relocation practice, to
               any location in the United States.

          Notwithstanding the foregoing, the Company shall not be obligated
          hereunder, unless, within 12 months after the termination of his
          employment with the Company (and its Affiliates), the Company is
          requested to purchase such Principal Residence or Executive has
          actually relocated from the Pineville, Louisiana area.

     h.   The Company shall pay to Executive an amount equal to the Company's
          (including all Affiliates) maximum matching contribution obligation
          under the Cleco Corporation 401(k) Savings and Investment Plan, as the
          same may be amended from time to time, for each of the three years
          immediately following Executive's termination of employment,
          determined as if Executive was credited with at least 1,000 hours of
          service in each such plan year, was employed as of the last day of
          each plan year, and contributed the maximum permissible amount under
          Code Section 402(g) in each such year, but determined using the amount
          in effect as of the date of Executive's termination of employment;
          such amount shall be paid in the form of a single-sum not later than
          30 days after Executive's termination of employment hereunder.

     4.3  BUSINESS TRANSACTION. If Executive's employment hereunder is
terminated (other than on account of Cause as defined in Section 3.3 hereof) in
connection with a Business Transaction, then notwithstanding any provision of
this Agreement to the contrary, the Company shall pay or provide to Executive
(a) the amount described in Section 3.1a hereof, payable not later than three
days after his termination of employment, (b) the amounts determined under
Sections 3.1b and 3.1d hereof, payable in not more than two equal installments,
one-half not later than 30 days after termination and the other one-half six
months after such termination, and (c) the benefits described in Sections 3.1e
and 3.1f and 4.2e and 4.2f hereof.

                                                                          Page 9
<PAGE>

     4.4  TAX PAYMENT.  If any payment to Executive pursuant to this Agreement
or any other payment or benefit from the Company or an Affiliate in connection
with a Change in Control or Business Transaction is subject to the excise tax
imposed under Code Section 4999 or any similar excise or penalty tax payable
under any United States federal, state, local or other law, the Company shall
pay an amount to Executive such that, after the payment by Executive of all
taxes on such amount, there remains a balance sufficient to pay such excise or
penalty tax. Executive shall submit to the Company the amount to be paid under
this Section 4.4, together with supporting documentation. If Executive and the
Company disagree as to such amount, an independent public accounting firm agreed
upon by Executive and the Company shall make such determination.

                         5.  LIMITATIONS ON ACTIVITIES

     5.1. CONSIDERATION FOR LIMITATION ON ACTIVITIES. Executive acknowledges
that the execution of this Agreement and the payments described herein
constitute consideration for the limitations on activities set forth in this
Section 5, the adequacy of which is hereby expressly acknowledged by Executive.

     5.2  CONFIDENTIAL INFORMATION.  Executive recognizes and acknowledges that
during the terms of his employment, he will have access to confidential,
proprietary, non-public information concerning the Company and its Affiliates,
which may include, without limitation, (a) books and records relating to
operations, finance, accounting, personnel and management, (b) price, rate and
volume data, future price and rate plans, and test data, (c) information related
to product design and development, (d) computer software, customer lists,
information obtained on competitors, and sales tactics, and (e) various other
non-public trade or business information, including business opportunities,
marketing or business diversification plans, methods and processes, and
financial data and the like (collectively, the "Confidential Information").
Executive agrees that he or she will not at any time, either while employed by
the Company or afterwards, make any independent use of, or disclose to any other
person or organization (except as authorized by the Company or pursuant to court
order) any of the Confidential Information.

     5.3  NON-SOLICITATION.  Executive agrees that during the one-year period
commencing as of the date of voluntary termination by Executive (as described in
Section 3.6 hereof) or the involuntary termination of Executive on account of
Cause (as described in Section 3.3 hereof), he or she shall not, directly or
indirectly, for his own benefit or on behalf of another or to the Company's (or
an Affiliate's) detriment:

     a.   Hire or offer to hire any of the Company's (or Affiliate's) officers,
          employees or agents;

     b.   Persuade or attempt to persuade in any manner any officer, employee or
          agent of the Company (or an Affiliate) to discontinue any relationship
          with the Company; or

                                                                         Page 10
<PAGE>

     c.   Solicit or divert or attempt to divert any customer or supplier of the
          Company or an Affiliate.

The provisions of this Section 5.3 shall apply in the locations set forth on
Exhibit A hereto, as the same may be amended from time to time.  Executive
acknowledges that the Company (or its Affiliates) is presently doing business in
such locations and that during the Employment Term Executive will be required to
provide services to or for the benefit of the Company (or its Affiliates) in
such locations.

     The parties agree that each of the foregoing prohibitions is intended to
constitute a separate restriction. Accordingly, should any such prohibition be
declared invalid or unenforceable, such prohibition shall be deemed severable
from and shall not affect the remainder thereof.  The parties further agree that
each of the foregoing restrictions is reasonable in both time and geographic
scope.

     5.4  BUSINESS REPUTATION.  Executive agrees that during his employment with
the Company (and its Affiliate) and at all times thereafter, he shall refrain
from performing any act, engaging in any conduct or course of action or making
or publishing an adverse, untrue or misleading statement which has or may
reasonably have the effect of demeaning the name or business reputation of the
Company or its Affiliates or which adversely affects (or may reasonably
adversely affect) the best interests (economic or otherwise) of the Company or
an Affiliate.

     5.5  REMEDIES.  In the event of a breach or threatened breach by Executive
of the provisions of Sections 5.2, 5.3 or 5.4 hereof, Executive agrees that the
Company shall be entitled to a temporary restraining order or a preliminary
injunction (without the necessity of posting bond in connection therewith) and
that any additional payments or benefits due to Executive or his dependents
under Sections 3 and 4 hereof shall be canceled and forfeited.  Nothing herein
shall be construed as prohibiting the Company from pursuing any other remedy
available to it for such breach or threatened breach, including the recovery of
damages from Executive.

                               6.  MISCELLANEOUS

     6.1  MITIGATION NOT REQUIRED.  As a condition of any payment hereunder,
Executive shall not be required to mitigate the amount of such payment by
seeking other employment or otherwise, nor will any profits, income, earnings or
other benefits from any source whatsoever create any mitigation, offset,
reduction or any other obligation on the part of Executive under this Agreement.

     6.2  ENFORCEMENT OF THIS AGREEMENT.  In the event any dispute in connection
with this Agreement arises with respect to obligations of Executive or the
Company that were required prior to the occurrence of a Change in Control or a
Business Transaction, all costs, fees and expenses, including attorney fees, of
any litigation, arbitration or other legal action in connection with such
matters in which Executive substantially prevails, shall be borne by, and be the
obligation of, the Company.

                                                                         Page 11
<PAGE>

     After a Change in Control or Business Transaction has occurred, Executive
shall not be required to incur legal fees and the related expenses associated
with the interpretation, enforcement or defense of Executive's rights under this
Agreement by litigation or otherwise.  Accordingly, if, following a Change in
Control or Business Transaction, the Company has failed to comply with any of
its obligations under this Agreement or the Company or any other person takes or
threatens to take any action to declare this Agreement void or unenforceable or
in any way reduce the possibility of collecting the amounts due hereunder, or
institutes any litigation or other action or proceeding designed to deny or to
recover from Executive the benefits provided or intended to be provided under
this Agreement, Executive shall be entitled to retain counsel of Executive's
choice, at the expense of the Company, to advise and represent Executive in
connection with any such interpretation, enforcement or defense, including
without limitation the initiation or defense of any litigation, arbitration or
other legal action, whether by or against the Company or any director, officer,
stockholder or other person affiliated with the Company, in any jurisdiction.
The Company shall pay and be solely financially responsible for any and all
attorneys' and related fees and expenses incurred by Executive in connection
with any of the foregoing, without regard to whether Executive prevails, in
whole or in part.

     In no event shall Executive be required to reimburse the Company for any of
the costs and expenses incurred by the Company relating to arbitration,
litigation or other legal action in connection with this Agreement.

     6.3  NO SET-OFF.   There shall be no right of set-off or counterclaim in
respect of any claim, debt or obligation against any payment to Executive
provided for in this Agreement.

     6.4  ASSISTANCE WITH LITIGATION.  For a period of one year after the end of
the last period for which Executive will have received any compensation under
this Agreement, Executive will furnish such information and proper assistance as
may be reasonably necessary in connection with any litigation in which the
Company (or an Affiliate) is then or may become involved.

     6.5  HEADINGS.  Section and other headings contained in this Agreement are
for reference purposes only and shall not affect in any way the meaning or
interpretation of this Agreement.

     6.6  ENTIRE AGREEMENT.  This Agreement constitutes the entire understanding
and agreement among the parties hereto with respect to the subject matter
hereof, and there are no other agreements, understandings, restrictions,
representations or warranties among the parties other than those set forth
herein.

     6.7  AMENDMENTS.  This Agreement may be amended or modified at any time in
any or all respects, but only by an instrument in writing executed by the
parties hereto.

     6.8  CHOICE OF LAW.  The validity of this Agreement, the construction of
its terms, and the determination of the rights and duties of the parties hereto
shall be governed by and

                                                                         Page 12
<PAGE>

construed in accordance with the internal laws of the State of Louisiana
applicable to contracts made to be performed wholly within such state.

     6.9  NOTICES.  All notices and other communications under this Agreement
must be in writing and will be deemed to have been duly given when (a) delivered
by hand, (b) sent by telecopier to a telecopier number given below, provided
that a copy is sent by a nationally recognized overnight delivery service
(receipt requested), or (c) when received by the addressee, if sent by a
nationally recognized overnight delivery service (receipt requested), in each
case as follows:

          If to Executive:      David M. Eppler
                                550 Hiawatha Trail
                                Pineville, Louisiana 71360

          If to the Company:    Cleco Corporation
                                2030 Donahue Ferry Road
                                Pineville, LA 71360
                                Attention: Chairman, Board of Directors
                                Telecopier:   (318) 484-7777

or to such other addresses as a party may designate by notice to the other
party.

     6.10 ASSIGNMENT.  This Agreement will inure to the benefit of and be
binding upon the Company, its Affiliates, successors and assigns, including,
without limitation, any person, partnership, company, corporation or other
entity that may acquire substantially all of the Company's assets or business or
with or into which the Company may be liquidated, consolidated, merged or
otherwise combined, and will inure to the benefit of and be binding upon
Executive, his heirs, estate, legatees and legal representatives.  If payments
become payable to Executive's surviving spouse or other assigns and such person
thereafter dies, such payment will revert to Executive's estate.

     6.11 SEVERABILITY.  Each provision of this Agreement is intended to be
severable.  In the event that any one or more of the provisions contained in
this Agreement shall for any reason be held to be invalid, illegal or
unenforceable, the same shall not affect the validity or enforceability of any
other provision of this Agreement, but this Agreement shall be construed as if
such invalid, illegal or unenforceable provisions was not contained herein.
Notwithstanding the foregoing, however, no provision shall be severed if it is
clearly apparent under the circumstances that the parties would not have entered
into this Agreement without such provision.

     6.12 WITHHOLDING.  The Company (or an Affiliate) may withhold from any
payment hereunder any federal, state or local taxes required to be withheld.

     6.13 SURVIVAL.   Notwithstanding anything herein to the contrary, to the
extent applicable, the obligations of the Company (and its Affiliates) under
Sections 3 and 4, and the

                                                                         Page 13
<PAGE>

obligations of Executive under Sections 3 and 5, shall remain operative and in
full force and effect regardless of the expiration of this Agreement.

     6.14 WAIVER.  The failure of either party to insist in any one or more
instances upon performance of any terms or conditions of this Agreement will not
be construed as a waiver of future performance of any such term, covenant, or
condition and the obligations of either party with respect to such term,
covenant or condition will continue in full force and effect.

     THIS AGREEMENT is executed in multiple counterparts as of the dates set
forth below, each of which shall be deemed an original, to be effective as of
the Effective Date designated above.

CLECO CORPORATION                        EXECUTIVE

By:
   ------------------------------        -------------------------------------
                                         DAVID M. EPPLER
Its:
    -----------------------------

Date:                                    Date:
     ----------------------------             --------------------------------

                                                                         Page 14
<PAGE>

                               CLECO CORPORATION
                         EXECUTIVE EMPLOYMENT AGREEMENT

                                   EXHIBIT A

     This Exhibit A is intended to form a part of that certain Executive
Employment Agreement by and between Cleco Corporation and DAVID M. EPPLER, first
effective as of July 28,  2000.  The parties agree that the proscriptions set
forth in Section 5.3 thereof shall apply in the State of Louisiana, Parishes of:

     Acadia Parish
     Allen Parish
     Avoyelles Parish
     Beauregard Parish
     Calcasieu Parish
     Catahoula Parish
     Desoto Parish
     Evangeline Parish
     Grant Parish
     Iberia Parish
     Jefferson Davis Parish
     Lafayette Parish
     Lasalle Parish
     Natchitoches Parish
     Rapides Parish
     Red River Parish
     Sabine Parish
     St. Landry Parish
     St. Martin Parish
     St. Mary Parish
     St. Tammany Parish
     Vernon Parish
     Washington Parish

Executive and the Company agree that the Company shall amend this Exhibit A,
from time to time, to eliminate Parishes in which the Company is no longer doing
business and to add Parishes in which the Company is currently doing business.

                                                                         Page 15
<PAGE>

                                                                   EXHIBIT 10(y)

                               CLECO CORPORATION

                         EXECUTIVE EMPLOYMENT AGREEMENT
                                   (LEVEL 1)

     THIS AGREEMENT (the "Agreement") is entered into as of this 28th day of
July, 2000, by and between THOMAS J. HOWLIN ("Executive"), and Cleco
Corporation, a Louisiana corporation (the "Company"), and is intended to amend
and restate, in its entirety, that certain Executive Severance Agreement between
Cleco Utility Group Inc. and Executive, initially effective as of January 1,
1998.

                            1.  EMPLOYMENT AND TERM

     1.1  POSITION.  The Company shall employ and retain Executive as its Senior
Vice President and Chief Financial Officer or in such other capacity or
capacities as shall be mutually agreed upon, from time to time, by Executive and
the Company, and Executive agrees to be so employed, subject to the terms and
conditions set forth herein. Executive's duties and responsibilities shall be
those assigned to him hereunder, from time to time, by the Chief Executive
Officer of the Company and shall include such duties as are the type and nature
normally assigned to similar executive officers of a corporation of the size,
type and stature of the Company.  Executive shall report to the Chief Executive
Officer.

     1.2  CONCURRENT EMPLOYMENT.  During the term of this Agreement, Executive
and the Company acknowledge that Executive may be concurrently employed by the
Company and a subsidiary or other entity with respect to which the Company owns
(within the meaning of Section 425(f) of the Internal Revenue Code of 1986, as
amended (the "Code")) 50% or more of the total combined voting power of all
classes of stock or other equity interests (an "Affiliate"), and that all of the
terms and conditions of this Agreement shall apply to such concurrent
employment.  Reference to the Company hereunder shall be deemed to include any
such concurrent employers.

     1.3  FULL TIME AND ATTENTION.  During the term of this Agreement and any
extensions or renewals thereof, Executive shall devote his full time, attention
and energies to the business of the Company and will not, without the prior
written consent of the Chief Executive Officer of the Company, be engaged
(whether or not during normal business hours) in any other business or
professional activity, whether or not such activities are pursued for gain,
profit or other pecuniary advantage.

     Notwithstanding the foregoing, Executive shall not be prevented from (a)
engaging in any civic or charitable activity for which Executive receives no
compensation or other pecuniary advantage, (b) investing his personal assets in
businesses which do not compete with the Company, provided that such investment
will not require any services on the part of Executive in the operation of the
affairs of the businesses in which investments are made and provided further
that Executive's participation in such businesses is solely that of an investor,
or (c) purchasing
<PAGE>

securities in any corporation whose securities are regularly traded, provided
that such purchases will not result in Executive owning beneficially at any time
5% or more of the equity securities of any corporation engaged in a business
competitive with that of the Company.

     1.4  TERM.  Executive's employment under this Agreement shall commence as
of July  28, 2000 (the "Effective Date"), and shall terminate on July 28, 2003
(such date or the last day of employment specified in any renewal or amendment
hereof referred to herein as the "Termination Date") (the period commencing as
of the Effective Date and ending as of the Termination Date referred to herein
as the "Employment Term").

     Commencing on the second anniversary of the Effective Date and each
anniversary thereafter, Executive's employment shall automatically be extended
for an additional one-year period; provided, however, that either party may
provide written notice to the other that the Employment Term will not be further
extended, such notice to be provided not later than 30 days prior to the end of
the then current Employment Term.

                         2.  COMPENSATION AND BENEFITS

     2.1  BASE COMPENSATION.  The Company shall pay Executive an annual salary
equal to his annual base salary in effect as of the Effective Date, such amount
shall be prorated and paid in equal installments in accordance with the
Company's regular payroll practices and policies and shall be subject to
applicable withholding and other applicable taxes (Executive's "Base
Compensation").  Executive's Base Compensation shall be reviewed no less often
than annually and may be increased or reduced by the Board of Directors of the
Company (the "Board"), in its sole discretion; provided, however, that
Executive's Base Compensation may not be reduced at any time unless such
reduction is part of a reduction in pay uniformly applicable to all officers of
the Company.

     2.2  ANNUAL INCENTIVE BONUS.  In addition to the foregoing, Executive shall
be eligible for participation in the Annual Incentive Compensation Plan or
similar bonus arrangement maintained by the Company or an Affiliate or such
other bonus or incentive plans which the Company or its Affiliates may adopt,
from time to time, for similarly situated executives (an "Incentive Bonus").

     2.3  LONG-TERM INCENTIVES.  In addition to the foregoing, Executive shall
be eligible for participation in the 2000 Long-Term Incentive Compensation Plan
maintained by the Company and such other long-term incentive plans which the
Company or its Affiliates may adopt, from time to time, for similarly situated
executives (a "Long-Term Incentive").

     2.4  SUPPLEMENTAL RETIREMENT BENEFIT.  In addition to the foregoing,
Executive shall be eligible to participate in the Supplemental Executive
Retirement Plan maintained by Cleco Utility Group Inc. or such other
supplemental retirement benefit plans which the Company or its Affiliates may
adopt, from time to time, for similarly situated executives (the "Supplemental
Plan").

                                                                          Page 2
<PAGE>

     2.5  OTHER BENEFITS. During the term of this Agreement and in addition to
the amounts otherwise provided herein, Executive shall participate in such
plans, policies, and programs as may be maintained, from time to time, by the
Company or its Affiliates for the benefit of senior executives or employees,
including, without limitation, profit sharing, life insurance, and group medical
and other welfare benefit plans.  Any such benefits shall be determined in
accordance with the specific terms and conditions of the documents evidencing
any such plans, policies, and programs.

     2.6  REIMBURSEMENT OF EXPENSES.   The Company shall reimburse Executive for
such reasonable and necessary expenses as are incurred in carrying out his
duties hereunder, consistent with the Company's standard policies and annual
budget.  The Company's obligation to reimburse Executive hereunder shall be
contingent upon the presentment by Executive of an itemized accounting of such
expenditures.

                                3.  TERMINATION

     3.1  TERMINATION PAYMENTS TO EXECUTIVE.  As set forth more fully in this
Section 3 and except as provided in Sections 3.3 or 3.8 hereof, Executive shall
be paid the greater of the amounts or benefits set forth below or the amounts or
benefits provided under the terms of the separate plan or arrangement maintained
by the Company (or its Affiliates) on account of termination of employment
hereunder:

     a.   Executive's Base Compensation accrued but not yet paid as of the date
          of his termination.

     b.   Executive's Base Compensation payable until the Termination Date
          (determined without regard to the automatic renewal provisions of
          Section 1.4 hereof), but not less than 100% of such annual Base
          Compensation.

     c.   Executive's Incentive Bonus payable with respect to the year of his
          termination, prorated to reflect Executive's actual period of service
          during such year.

     d.   Executive's Incentive Bonus payable in the target amount for the year
          in which his termination of employment occurs.

     e.   If Executive's principal office is located in Pineville, Louisiana,
          the Company shall, at the written request of Executive:

          i.   Purchase his principal residence if such residence is located
               within 60 miles of the Company's Pineville, Louisiana office (the
               "Principal Residence") for an amount equal to the greater of (1)
               the purchase price of such Principal Residence plus the
               documented cost of any capital improvements to the Principal
               Residence made by Executive, or (2) the fair market value of such
               Principal Residence as determined by the Company's usual
               relocation practice; and

                                                                          Page 3
<PAGE>

          ii.  Pay or reimburse Executive for the cost of relocating Executive,
               his family and their household goods and other personal property,
               in accordance with the Company's usual relocation practice, to
               any location in the United States.

          Notwithstanding the foregoing, the Company shall not be obligated
          hereunder, unless, within 12 months after the termination of his
          employment with the Company (and its Affiliates), the Company is
          requested to purchase such Principal Residence or Executive has
          actually relocated from the Pineville, Louisiana area.

     f.   If Executive and/or his dependents elects to continue group medical
          coverage, within the meaning of Code Section 4980B(f)(2), with respect
          to a group health plan sponsored by the Company or an Affiliate (other
          than a health flexible spending account under a self-insured medical
          reimbursement plan described in Code Sections 125 and 105(h)), the
          Company shall pay the continuation coverage premium for the same type
          and level of group health plan coverage received by Executive and his
          electing dependents immediately prior to such termination of
          Executive's employment for the maximum period provided under Code
          Section 4980B.

     g.   Executive shall be fully vested for purposes of any service or similar
          requirement imposed under the Cleco Utility Group Inc. Supplemental
          Executive Retirement Plan (the "Supplemental Plan"), regardless of the
          actual number of years of service attained by Executive.

Except as expressly provided in Section 3.3 hereof, Executive shall also be
entitled to receive such compensation or benefits as may be provided under the
terms of a separate plan or amendment maintained by the Company (or its
Affiliates) to the extent such compensation or benefits are not duplicative of
the compensation or benefits described above.

     3.2  TERMINATION FOR DEATH OR DISABILITY.  If Executive dies or becomes
disabled during the Employment Term, this Agreement and Executive's employment
hereunder shall immediately terminate and the Company's obligations hereunder
shall automatically cease.  In such event, the Company shall pay to Executive
(or his estate) the amounts described in Sections 3.1a and 3.1c hereof.  Payment
shall be made in the form of one or more single-sums as soon as practicable
after Executive's death or disability or as and when such amounts are
ascertainable.

     For purposes of this Section 3.2, Executive shall be deemed "disabled" if
he is actually receiving benefits or is eligible to receive benefits under the
Company's (or an Affiliate's) separate long-term disability plan. The Board
shall determine whether Executive is disabled hereunder.

                                                                          Page 4
<PAGE>

     3.3  COMPANY'S TERMINATION FOR CAUSE.  This Agreement and Executive's
employment hereunder may be terminated by the Company on account of Cause.  In
such event, the Company shall pay to Executive the amount described in Section
3.1a hereof.  Payment shall be made in the form of a single-sum not later than
three days after such termination.  Notwithstanding any provision of this
Agreement or any other plan, policy or agreement evidencing any other
compensation arrangement or benefit payable to Executive, no additional amount
shall be paid to Executive, except as may be required by law.

     For purposes of this Agreement "Cause" means that Executive has:

     a.   Committed an intentional act of fraud, embezzlement or theft in the
          course of his employment or otherwise engaged in any intentional
          misconduct which is materially injurious to the Company's (or an
          Affiliate's) financial condition or business reputation;

     b.   Committed intentional damage to the property of the Company (or an
          Affiliate) or committed intentional wrongful disclosure of
          Confidential Information (as defined in Section 5.2) which is
          materially injurious to the Company's (or an Affiliate's) financial
          condition or business reputation;

     c.   Intentionally refused to perform the material duties of his position;
          or

     d.   A material breach of this Agreement by Executive.

No act or failure to act on the part of Executive will be deemed "intentional"
if it was due primarily to an error in judgment or negligence, but will be
deemed "intentional" only if done or omitted to be done by Executive not in good
faith and without reasonable belief that his action or omission was in the best
interest of the Company (or an Affiliate).

     The Board, acting in good faith, may terminate Executive's employment
hereunder on account of Cause (or may determine that any termination by the
Company is on account of Cause).  The Board shall provide written notice to
Executive, including a description of the specific reasons for the determination
of Cause.  Executive shall have the opportunity to appear before the Board, with
or without legal representation, to present arguments and evidence on his
behalf.  Following such presentation (or upon Executive's failure to appear),
the Board, by an affirmative vote of not less than 66% of its members, shall
confirm that the actions or inactions of Executive constitute Cause hereunder.

     3.4  EXECUTIVE'S CONSTRUCTIVE TERMINATION. Executive may terminate this
Agreement and his employment hereunder on account of a Constructive Termination
upon 30 days prior written notice to the Chief Executive Officer (or such
shorter period as may be agreed upon by the parties hereto.)  In such event, the
Company shall provide to Executive (a) the amount described in Section 3.1a
hereof, payable not later than three days after his termination of employment,
(b) the amounts determined under Sections 3.1b and 3.1d hereof, payable in not
more than two equal installments, one-half not later than 30 days after
termination and the other

                                                                          Page 5
<PAGE>

one-half six months after such termination, and (c) the benefits described in
Sections 3.1e, 3.1f and 3.1g hereof.

     For purposes of this Agreement, "Constructive Termination" means:

     a.   A material reduction (other than a reduction in pay uniformly
          applicable to all officers of the Company) in the amount of
          Executive's Base Compensation;

     b.   A material reduction in Executive's authority, duties or
          responsibilities from those contemplated in Section 1.1 of this
          Agreement; or

     c.   A material breach of this Agreement by the Company or its Affiliates.

No event or condition described in this Section 3.4 shall constitute a
Constructive Termination unless (a) Executive promptly gives the Company notice
of his objection to such event or condition, which notice may be provided orally
or in writing to the Chief Executive Officer or his designee, (b) such event or
condition is not corrected by the Company promptly after receipt of such notice,
but in no event more than 30 days after receipt of notice, and (c) Executive
resigns his employment with the Company (and all Affiliates) not more than 15
days following the expiration of the 30-day period described in subparagraph (b)
hereof.

     3.5  TERMINATION BY THE COMPANY, WITHOUT CAUSE.  The Company may terminate
this Agreement and Executive's employment hereunder, without Cause, upon 30 days
prior written notice to Executive (or such shorter period as may be agreed upon
by Executive and the Chief Executive officer).  In such event, the Company shall
provide to Executive (a) the amount described in Section 3.1a hereof, payable
not later than three days after such termination, (b) the amounts determined
under Sections 3.1b and 3.1d hereof, payable in not more than two equal
installments, one-half not later than 30 days after termination and the other
one-half six months after such termination, and (c) the benefits described in
Sections 3.1e, 3.1f and 3.1g hereof.

     3.6  TERMINATION BY EXECUTIVE.  Executive may terminate this Agreement and
his employment hereunder, other than on account of Constructive Termination,
upon 30 days prior written notice to the Company or such shorter period as may
be agreed upon by the Chief Executive Officer and Executive.  In such event, the
Company shall pay to Executive the amount described in Section 3.1a hereof.
Payment shall be made in the form of a single-sum not later than three days
after such termination.  No additional payments or benefits shall be due
hereunder, except as may be provided under a separate plan, policy or program
evidencing such compensation arrangement or benefit or as may be required by
law.

     3.7  RETURN OF PROPERTY.  Upon termination of this Agreement for any
reason, Executive shall promptly return to the Company all of the property of
the Company (and its Affiliates), including, without limitation, automobiles,
equipment, computers, fax machines, portable telephones, printers, software,
credit cards, manuals, customer lists, financial data, letters, notes,
notebooks, reports and copies of any of the above and any Confidential

                                                                          Page 6
<PAGE>

Information (as defined in Section 5.2 hereof) that is in the possession or
under the control of Executive.

     3.8  CONSIDERATION FOR OTHER AGREEMENTS.  Executive acknowledges that all
or a portion of the amount payable under Section 3.1d hereof is in excess of the
amount otherwise due or payable under the Annual Incentive Compensation Plan and
that the payment of such excess amount shall constitute adequate consideration
for the execution of such separate waivers or releases as the Company (or
Affiliate) may request Executive to execute in connection with the termination
of his employment hereunder.  Executive agrees that failure to execute any such
waiver or release within the time request by the Company shall result in the
forfeiture of the excess amount payable under Section 3.1d hereof.

                 4.  CHANGE IN CONTROL AND BUSINESS TRANSACTION

     4.1  DEFINITIONS.  The terms "Change in Control" and "Business Transaction"
shall have the meanings ascribed to them in the Cleco Corporation 2000 Long-Term
Incentive Compensation Plan, as the same may be amended from time to time.

     The term "Good Reason," when used herein, shall mean that in connection
with a Change in Control:

     a.   Executive's Base Compensation in effect immediately before such Change
          in Control is reduced or there is a significant reduction or
          termination of Executive's rights to any employee benefit in effect
          immediately prior to the Change in Control;

     b.   Executive's authority, duties or responsibilities are significantly
          reduced from those contemplated in Section 1.1 hereof or Executive has
          reasonably determined that, as a result of a change in circumstances
          that significantly affects his employment with the Company (or an
          Affiliate), he is unable to exercise the authority, power, duties and
          responsibilities contemplated in Section 1.1 hereof;

     c.   Executive is required to be away from his office in the course of
          discharging his duties and responsibilities under this Agreement
          significantly more than was required prior to the Change in Control;
          or

     d.   Executive is required to transfer to an office or business location
          located more than 60 miles from the location to which he was assigned
          prior to the Change in Control.

No event or condition described in this Section 4.1 shall constitute Good Reason
unless (a) Executive gives the Company notice of his objection to such event or
condition within a reasonable period after Executive learns of such event, which
notice may be delivered orally or in writing to the Chief Executive Officer (or
his designee), (b) such event or condition is not promptly corrected by the
Company, but in no event later than 30 days after receipt of such

                                                                          Page 7
<PAGE>

notice, and (c) Executive resigns his employment with the Company (and its
Affiliates) not more than 60 days following the expiration of the 30-day period
described in subparagraph (b) hereof.

     4.2  TERMINATION IN CONNECTION WITH A CHANGE IN CONTROL.  If Executive's
employment described herein is terminated by the Company, without Cause (as
defined in Section 3.3 hereof), or Executive terminates his employment hereunder
for Good Reason at any time within the 60-day period preceding or 36-month
period following such Change in Control, then notwithstanding any provision of
this Agreement to the contrary and in lieu of any compensation or benefits
otherwise payable hereunder:

     a.   The Company shall pay to Executive the amount described in Section
          3.1a in the form of a single-sum not later than three days after such
          termination.

     b.   The Company shall pay to Executive the amount described in Section
          3.1d in the form of a single-sum not later than 30 days after such
          termination.

     c.   The Company shall pay an amount equal to three times Executive's "base
          amount" as determined under Code Section 280G, payable in the form of
          a single-sum not later than 30 days after such termination.

     d.   The Company shall provide to Executive and his dependents coverage
          under the Company's or an Affiliate's group medical plan for the same
          type and level of health benefits received by Executive and his
          dependents immediately prior to such termination for a period of three
          years or until Executive and/or his dependents obtain coverage under a
          reasonably satisfactory group health plan with no applicable
          preexisting condition limitation, whichever comes first; such coverage
          to be in addition to any coverage available to Executive and his
          dependents under Code Section 4980B.

     e.   Vesting shall be accelerated, any restrictions shall lapse, and all
          performance objectives shall be deemed satisfied as to any outstanding
          grants or awards made to Executive under the 2000 Long-Term Incentive
          Compensation Plan and/or the 1990 Long-Term Incentive Compensation
          Plan.  Executive shall be entitled to such additional benefits or
          rights as may be provided in the documents evidencing such plans or
          the terms of any agreement evidencing such grant or award.

     f.   Executive shall be fully vested for purposes of any service or similar
          requirement imposed under the Supplemental Plan, regardless of the
          actual number of years of service attained by Executive.  Executive
          shall be credited with an additional three years of age for purposes
          of determining his benefit percentage under the Supplemental Plan, but
          in no event shall such benefit percentage be less than 50%; and
          Executive shall be credited with an additional three years of age for
          purposes of determining any reduction taken with respect to benefits
          commencing before Executive's normal retirement date (as defined in
          such plan).

                                                                          Page 8
<PAGE>

     g.   If Executive's principal office is located in Pineville, Louisiana,
          the Company shall, at the written request of Executive:

          i.   Purchase his principal residence if such residence is located
               within 60 miles of the Company's Pineville, Louisiana office (the
               "Principal Residence") for an amount equal to the greater of (1)
               the purchase price of such Principal Residence plus the
               documented cost of any capital improvements to the Principal
               Residence made by Executive, or (2) the fair market value of such
               Principal Residence as determined by the Company's usual
               relocation practice; and

          ii.  Pay or reimburse Executive for the cost of relocating Executive,
               his family and their household goods and other personal property,
               in accordance with the Company's usual relocation practice, to
               any location in the United States.

          Notwithstanding the foregoing, the Company shall not be obligated
          hereunder, unless, within 12 months after the termination of his
          employment with the Company (and its Affiliates), the Company is
          requested to purchase such Principal Residence or Executive has
          actually relocated from the Pineville, Louisiana area.

     h.   The Company shall pay to Executive an amount equal to the Company's
          (including all Affiliates) maximum matching contribution obligation
          under the Cleco Corporation 401(k) Savings and Investment Plan, as the
          same may be amended from time to time, for each of the three years
          immediately following Executive's termination of employment,
          determined as if Executive was credited with at least 1,000 hours of
          service in each such plan year, was employed as of the last day of
          each plan year, and contributed the maximum permissible amount under
          Code Section 402(g) in each such year, but determined using the amount
          in effect as of the date of Executive's termination of employment;
          such amount shall be paid in the form of a single-sum not later than
          30 days after Executive's termination of employment hereunder.

     4.3  BUSINESS TRANSACTION. If Executive's employment hereunder is
terminated (other than on account of Cause as defined in Section 3.3 hereof) in
connection with a Business Transaction, then notwithstanding any provision of
this Agreement to the contrary, the Company shall pay or provide to Executive
(a) the amount described in Section 3.1a hereof, payable not later than three
days after his termination of employment, (b) the amounts determined under
Sections 3.1b and 3.1d hereof, payable in not more than two equal installments,
one-half not later than 30 days after termination and the other one-half six
months after such termination, and (c) the benefits described in Sections 3.1e
and 3.1f and 4.2e and 4.2f hereof.

                                                                          Page 9
<PAGE>

     4.4  TAX PAYMENT. If any payment to Executive pursuant to this Agreement or
any other payment or benefit from the Company or an Affiliate in connection with
a Change in Control or Business Transaction is subject to the excise tax imposed
under Code Section 4999 or any similar excise or penalty tax payable under any
United States federal, state, local or other law, the Company shall pay an
amount to Executive such that, after the payment by Executive of all taxes on
such amount, there remains a balance sufficient to pay such excise or penalty
tax. Executive shall submit to the Company the amount to be paid under this
Section 4.4, together with supporting documentation. If Executive and the
Company disagree as to such amount, an independent public accounting firm agreed
upon by Executive and the Company shall make such determination.

                         5.  LIMITATIONS ON ACTIVITIES

  5.1.  CONSIDERATION FOR LIMITATION ON ACTIVITIES.  Executive acknowledges that
the execution of this Agreement and the payments described herein constitute
consideration for the limitations on activities set forth in this Section 5, the
adequacy of which is hereby expressly acknowledged by Executive.

  5.2  CONFIDENTIAL INFORMATION.  Executive recognizes and acknowledges that
during the terms of his employment, he will have access to confidential,
proprietary, non-public information concerning the Company and its Affiliates,
which may include, without limitation, (a) books and records relating to
operations, finance, accounting, personnel and management, (b) price, rate and
volume data, future price and rate plans, and test data, (c) information related
to product design and development, (d) computer software, customer lists,
information obtained on competitors, and sales tactics, and (e) various other
non-public trade or business information, including business opportunities,
marketing or business diversification plans, methods and processes, and
financial data and the like (collectively, the "Confidential Information").
Executive agrees that he will not at any time, either while employed by the
Company or afterwards, make any independent use of, or disclose to any other
person or organization (except as authorized by the Company or pursuant to court
order) any of the Confidential Information.

  5.3  NON-SOLICITATION.  Executive agrees that during the one-year period
commencing as of the date of voluntary termination by Executive (as described in
Section 3.6 hereof) or the involuntary termination of Executive on account of
Cause (as described in Section 3.3 hereof), he shall not, directly or
indirectly, for his own benefit or on behalf of another or to the Company's (or
an Affiliate's) detriment:

     a.   Hire or offer to hire any of the Company's (or Affiliate's) officers,
          employees or agents;

     b.   Persuade or attempt to persuade in any manner any officer, employee or
          agent of the Company (or an Affiliate) to discontinue any relationship
          with the Company; or

                                                                         Page 10
<PAGE>

     c.   Solicit or divert or attempt to divert any customer or supplier of the
          Company or an Affiliate.

The provisions of this Section 5.3 shall apply in the locations set forth on
Exhibit A hereto, as the same may be amended from time to time.  Executive
acknowledges that the Company (or its Affiliates) is presently doing business in
such locations and that during the Employment Term Executive will be required to
provide services to or for the benefit of the Company (or its Affiliates) in
such locations.

     The parties agree that each of the foregoing prohibitions is intended to
constitute a separate restriction.  Accordingly, should any such prohibition be
declared invalid or unenforceable, such prohibition shall be deemed severable
from and shall not affect the remainder thereof.  The parties further agree that
each of the foregoing restrictions is reasonable in both time and geographic
scope.

     5.4  BUSINESS REPUTATION.  Executive agrees that during his employment with
the Company (and its Affiliate) and at all times thereafter, he shall refrain
from performing any act, engaging in any conduct or course of action or making
or publishing an adverse, untrue or misleading statement which has or may
reasonably have the effect of demeaning the name or business reputation of the
Company or its Affiliates or which adversely affects (or may reasonably
adversely affect) the best interests (economic or otherwise) of the Company or
an Affiliate.

     5.5  REMEDIES.  In the event of a breach or threatened breach by Executive
of the provisions of Sections 5.2, 5.3 or 5.4 hereof, Executive agrees that the
Company shall be entitled to a temporary restraining order or a preliminary
injunction (without the necessity of posting bond in connection therewith) and
that any additional payments or benefits due to Executive or his dependents
under Sections 3 and 4 hereof shall be canceled and forfeited.  Nothing herein
shall be construed as prohibiting the Company from pursuing any other remedy
available to it for such breach or threatened breach, including the recovery of
damages from Executive.

                               6.  MISCELLANEOUS

     6.1  MITIGATION NOT REQUIRED.  As a condition of any payment hereunder,
Executive shall not be required to mitigate the amount of such payment by
seeking other employment or otherwise, nor will any profits, income, earnings or
other benefits from any source whatsoever create any mitigation, offset,
reduction or any other obligation on the part of Executive under this Agreement.

     6.2  ENFORCEMENT OF THIS AGREEMENT.  In the event any dispute in connection
with this Agreement arises with respect to obligations of Executive or the
Company that were required prior to the occurrence of a Change in Control or a
Business Transaction, all costs, fees and expenses, including attorney fees, of
any litigation, arbitration or other legal action in connection with such
matters in which Executive substantially prevails, shall be borne by, and be the
obligation of, the Company.

                                                                         Page 11
<PAGE>

     After a Change in Control or Business Transaction has occurred, Executive
shall not be required to incur legal fees and the related expenses associated
with the interpretation, enforcement or defense of Executive's rights under this
Agreement by litigation or otherwise.  Accordingly, if, following a Change in
Control or Business Transaction, the Company has failed to comply with any of
its obligations under this Agreement or the Company or any other person takes or
threatens to take any action to declare this Agreement void or unenforceable or
in any way reduce the possibility of collecting the amounts due hereunder, or
institutes any litigation or other action or proceeding designed to deny or to
recover from Executive the benefits provided or intended to be provided under
this Agreement, Executive shall be entitled to retain counsel of Executive's
choice, at the expense of the Company, to advise and represent Executive in
connection with any such interpretation, enforcement or defense, including
without limitation the initiation or defense of any litigation, arbitration or
other legal action, whether by or against the Company or any director, officer,
stockholder or other person affiliated with the Company, in any jurisdiction.
The Company shall pay and be solely financially responsible for any and all
attorneys' and related fees and expenses incurred by Executive in connection
with any of the foregoing, without regard to whether Executive prevails, in
whole or in part.

     In no event shall Executive be required to reimburse the Company for any of
the costs and expenses incurred by the Company relating to arbitration,
litigation or other legal action in connection with this Agreement.

     6.3  NO SET-OFF.   There shall be no right of set-off or counterclaim in
respect of any claim, debt or obligation against any payment to Executive
provided for in this Agreement.

     6.4  ASSISTANCE WITH LITIGATION.  For a period of one year after the end of
the last period for which Executive will have received any compensation under
this Agreement, Executive will furnish such information and proper assistance as
may be reasonably necessary in connection with any litigation in which the
Company (or an Affiliate) is then or may become involved.

     6.5  HEADINGS.  Section and other headings contained in this Agreement are
for reference purposes only and shall not affect in any way the meaning or
interpretation of this Agreement.

     6.6  ENTIRE AGREEMENT.  This Agreement constitutes the entire understanding
and agreement among the parties hereto with respect to the subject matter
hereof, and there are no other agreements, understandings, restrictions,
representations or warranties among the parties other than those set forth
herein.

     6.7  AMENDMENTS.  This Agreement may be amended or modified at any time in
any or all respects, but only by an instrument in writing executed by the
parties hereto.

     6.8  CHOICE OF LAW.  The validity of this Agreement, the construction of
its terms, and the determination of the rights and duties of the parties hereto
shall be governed by and

                                                                         Page 12
<PAGE>

construed in accordance with the internal laws of the State of Louisiana
applicable to contracts made to be performed wholly within such state.

     6.9  NOTICES.  All notices and other communications under this Agreement
must be in writing and will be deemed to have been duly given when (a) delivered
by hand, (b) sent by telecopier to a telecopier number given below, provided
that a copy is sent by a nationally recognized overnight delivery service
(receipt requested), or (c) when received by the addressee, if sent by a
nationally recognized overnight delivery service (receipt requested), in each
case as follows:

          If to Executive:      Thomas J. Howlin
                                142 Ron Mar Circle
                                Pineville, Louisiana  71360

          If to the Company:    Cleco Corporation
                                2030 Donahue Ferry Road
                                Pineville, LA 71360
                                Attention: Chief Executive Officer
                                Telecopier:   (318) 484-7777

or to such other addresses as a party may designate by notice to the other
party.

     6.10 ASSIGNMENT.  This Agreement will inure to the benefit of and be
binding upon the Company, its Affiliates, successors and assigns, including,
without limitation, any person, partnership, company, corporation or other
entity that may acquire substantially all of the Company's assets or business or
with or into which the Company may be liquidated, consolidated, merged or
otherwise combined, and will inure to the benefit of and be binding upon
Executive, his heirs, estate, legatees and legal representatives.  If payments
become payable to Executive's surviving spouse or other assigns and such person
thereafter dies, such payment will revert to Executive's estate.

     6.11 SEVERABILITY.  Each provision of this Agreement is intended to be
severable.  In the event that any one or more of the provisions contained in
this Agreement shall for any reason be held to be invalid, illegal or
unenforceable, the same shall not affect the validity or enforceability of any
other provision of this Agreement, but this Agreement shall be construed as if
such invalid, illegal or unenforceable provisions was not contained herein.
Notwithstanding the foregoing, however, no provision shall be severed if it is
clearly apparent under the circumstances that the parties would not have entered
into this Agreement without such provision.

     6.12 WITHHOLDING.  The Company (or an Affiliate) may withhold from any
payment hereunder any federal, state or local taxes required to be withheld.

     6.13 SURVIVAL.   Notwithstanding anything herein to the contrary, to the
extent applicable, the obligations of the Company (and its Affiliates) under
Sections 3 and 4, and the

                                                                         Page 13
<PAGE>

obligations of Executive under Sections 3 and 5, shall remain operative and in
full force and effect regardless of the expiration of this Agreement.

     6.14 WAIVER.  The failure of either party to insist in any one or more
instances upon performance of any terms or conditions of this Agreement will not
be construed as a waiver of future performance of any such term, covenant, or
condition and the obligations of either party with respect to such term,
covenant or condition will continue in full force and effect.

     THIS AGREEMENT is executed in multiple counterparts as of the dates set
forth below, each of which shall be deemed an original, to be effective as of
the Effective Date designated above.

CLECO CORPORATION                        EXECUTIVE

By:
   -------------------------------       --------------------------------
                                         THOMAS J. HOWLIN
Its:
   -------------------------------

Date:                                    Date:
     -----------------------------            ---------------------------

                                                                         Page 14
<PAGE>

                               CLECO CORPORATION
                         EXECUTIVE EMPLOYMENT AGREEMENT

                                   EXHIBIT A

     This Exhibit A is intended to form a part of that certain Executive
Employment Agreement by and between Cleco Corporation and THOMAS J. HOWLIN,
effective as of July 28, 2000.  The parties agree that the proscriptions set
forth in Section 5.3 thereof shall apply in the State of Louisiana, Parishes of:

     Acadia Parish
     Allen Parish
     Avoyelles Parish
     Beauregard Parish
     Calcasieu Parish
     Catahoula Parish
     Desoto Parish
     Evangeline Parish
     Grant Parish
     Iberia Parish
     Jefferson Davis Parish
     Lafayette Parish
     Lasalle Parish
     Natchitoches Parish
     Rapides Parish
     Red River Parish
     Sabine Parish
     St. Landry Parish
     St. Martin Parish
     St. Mary Parish
     St. Tammany Parish
     Vernon Parish
     Washington Parish

Executive and the Company agree that the Company shall amend this Exhibit A,
from time to time, to eliminate Parishes in which the Company is no longer doing
business and to add Parishes in which the Company is currently doing business.

                                                                         Page 15
<PAGE>

                                                                   EXHIBIT 10(y)

                               CLECO CORPORATION

                         EXECUTIVE EMPLOYMENT AGREEMENT
                                   (LEVEL 1)

     THIS AGREEMENT (the "Agreement") is entered into as of this 28th day of
July, 2000, by and between CATHERINE C. POWELL ("Executive"), and Cleco
Corporation, a Louisiana corporation (the "Company"), and is intended to amend
and restate, in its entirety, that certain Executive Severance Agreement between
Cleco Utility Group Inc. and Executive, initially effective as of July 1, 1993.

                            1.  EMPLOYMENT AND TERM

     1.1  POSITION.  The Company shall employ and retain Executive as its Senior
Vice President Employee and Corporate Services or in such other capacity or
capacities as shall be mutually agreed upon, from time to time, by Executive and
the Company, and Executive agrees to be so employed, subject to the terms and
conditions set forth herein.  Executive's duties and responsibilities shall be
those assigned to her hereunder, from time to time, by the Chief Executive
Officer of the Company and shall include such duties as are the type and nature
normally assigned to similar executive officers of a corporation of the size,
type and stature of the Company.  Executive shall report to the Chief Executive
Officer.

     1.2  CONCURRENT EMPLOYMENT.  During the term of this Agreement, Executive
and the Company acknowledge that Executive may be concurrently employed by the
Company and a subsidiary or other entity with respect to which the Company owns
(within the meaning of Section 425(f) of the Internal Revenue Code of 1986, as
amended (the "Code")) 50% or more of the total combined voting power of all
classes of stock or other equity interests (an "Affiliate"), and that all of the
terms and conditions of this Agreement shall apply to such concurrent
employment.  Reference to the Company hereunder shall be deemed to include any
such concurrent employers.

     1.3  FULL TIME AND ATTENTION.  During the term of this Agreement and any
extensions or renewals thereof, Executive shall devote her full time, attention
and energies to the business of the Company and will not, without the prior
written consent of the Chief Executive Officer of the Company, be engaged
(whether or not during normal business hours) in any other business or
professional activity, whether or not such activities are pursued for gain,
profit or other pecuniary advantage.

     Notwithstanding the foregoing, Executive shall not be prevented from (a)
engaging in any civic or charitable activity for which Executive receives no
compensation or other pecuniary advantage, (b) investing her personal assets in
businesses which do not compete with the Company, provided that such investment
will not require any services on the part of Executive in the operation of the
affairs of the businesses in which investments are made and provided further
that Executive's participation in such businesses is solely that of an investor,
or (c) purchasing securities in any corporation whose securities are regularly
traded, provided that such purchases
<PAGE>

will not result in Executive owning beneficially at any time 5% or more of the
equity securities of any corporation engaged in a business competitive with that
of the Company.

     1.4  TERM.  Executive's employment under this Agreement shall commence as
of July 28, 2000 (the "Effective Date"), and shall terminate on July 28, 2003
(such date or the last day of employment specified in any renewal or amendment
hereof referred to herein as the "Termination Date") (the period commencing as
of the Effective Date and ending as of the Termination Date referred to herein
as the "Employment Term").

     Commencing on the second anniversary of the Effective Date and each
anniversary thereafter, Executive's employment shall automatically be extended
for an additional one-year period; provided, however, that either party may
provide written notice to the other that the Employment Term will not be further
extended, such notice to be provided not later than 30 days prior to the end of
the then current Employment Term.

                         2.  COMPENSATION AND BENEFITS

     2.1  BASE COMPENSATION.  The Company shall pay Executive an annual salary
equal to her annual base salary in effect as of the Effective Date, such amount
shall be prorated and paid in equal installments in accordance with the
Company's regular payroll practices and policies and shall be subject to
applicable withholding and other applicable taxes (Executive's "Base
Compensation").  Executive's Base Compensation shall be reviewed no less often
than annually and may be increased or reduced by the Board of Directors of the
Company (the "Board"), in its sole discretion; provided, however, that
Executive's Base Compensation may not be reduced at any time unless such
reduction is part of a reduction in pay uniformly applicable to all officers of
the Company.

     2.2  ANNUAL INCENTIVE BONUS.  In addition to the foregoing, Executive shall
be eligible for participation in the Annual Incentive Compensation Plan or
similar bonus arrangement maintained by the Company or an Affiliate or such
other bonus or incentive plans which the Company or its Affiliates may adopt,
from time to time, for similarly situated executives (an "Incentive Bonus").

     2.3  LONG-TERM INCENTIVES.  In addition to the foregoing, Executive shall
be eligible for participation in the 2000 Long-Term Incentive Compensation Plan
maintained by the Company and such other long-term incentive plans which the
Company or its Affiliates may adopt, from time to time, for similarly situated
executives (a "Long-Term Incentive").

     2.4  SUPPLEMENTAL RETIREMENT BENEFIT.  In addition to the foregoing,
Executive shall be eligible to participate in the Supplemental Executive
Retirement Plan maintained by Cleco Utility Group Inc. or such other
supplemental retirement benefit plans which the Company or its Affiliates may
adopt, from time to time, for similarly situated executives (the "Supplemental
Plan").

                                                                          Page 2
<PAGE>

     2.5  OTHER BENEFITS. During the term of this Agreement and in addition to
the amounts otherwise provided herein, Executive shall participate in such
plans, policies, and programs as may be maintained, from time to time, by the
Company or its Affiliates for the benefit of senior executives or employees,
including, without limitation, profit sharing, life insurance, and group medical
and other welfare benefit plans.  Any such benefits shall be determined in
accordance with the specific terms and conditions of the documents evidencing
any such plans, policies, and programs.

     2.6  REIMBURSEMENT OF EXPENSES.   The Company shall reimburse Executive for
such reasonable and necessary expenses as are incurred in carrying out her
duties hereunder, consistent with the Company's standard policies and annual
budget.  The Company's obligation to reimburse Executive hereunder shall be
contingent upon the presentment by Executive of an itemized accounting of such
expenditures.

                                3.  TERMINATION

     3.1  TERMINATION PAYMENTS TO EXECUTIVE.  As set forth more fully in this
Section 3 and except as provided in Sections 3.3 or 3.8 hereof, Executive shall
be paid the greater of the amounts or benefits set forth below or the amounts or
benefits provided under the terms of the separate plan or arrangement maintained
by the Company (or its Affiliates) on account of termination of employment
hereunder:

     a.   Executive's Base Compensation accrued but not yet paid as of the date
          of her termination.

     b.   Executive's Base Compensation payable until the Termination Date
          (determined without regard to the automatic renewal provisions of
          Section 1.4 hereof), but not less than 100% of such annual Base
          Compensation.

     c.   Executive's Incentive Bonus payable with respect to the year of her
          termination, prorated to reflect Executive's actual period of service
          during such year.

     d.   Executive's Incentive Bonus payable in the target amount for the year
          in which her termination of employment occurs.

     e.   If Executive's principal office is located in Pineville, Louisiana,
          the Company shall, at the written request of Executive:

          i.   Purchase her principal residence if such residence is located
               within 60 miles of the Company's Pineville, Louisiana office (the
               "Principal Residence") for an amount equal to the greater of (1)
               the purchase price of such Principal Residence plus the
               documented cost of any capital improvements to the Principal
               Residence made by Executive, or (2) the fair market value of such
               Principal Residence as determined by the Company's usual
               relocation practice; and

                                                                          Page 3
<PAGE>

          ii.  Pay or reimburse Executive for the cost of relocating Executive,
               her family and their household goods and other personal property,
               in accordance with the Company's usual relocation practice, to
               any location in the United States.

          Notwithstanding the foregoing, the Company shall not be obligated
          hereunder, unless, within 12 months after the termination of her
          employment with the Company (and its Affiliates), the Company is
          requested to purchase such Principal Residence or Executive has
          actually relocated from the Pineville, Louisiana area.

     f.   If Executive and/or her dependents elects to continue group medical
          coverage, within the meaning of Code Section 4980B(f)(2), with respect
          to a group health plan sponsored by the Company or an Affiliate (other
          than a health flexible spending account under a self-insured medical
          reimbursement plan described in Code Sections 125 and 105(h)), the
          Company shall pay the continuation coverage premium for the same type
          and level of group health plan coverage received by Executive and her
          electing dependents immediately prior to such termination of
          Executive's employment for the maximum period provided under Code
          Section 4980B.

     g.   Executive shall be fully vested for purposes of any service or similar
          requirement imposed under the Cleco Utility Group Inc. Supplemental
          Executive Retirement Plan (the "Supplemental Plan"), regardless of the
          actual number of years of service attained by Executive.

Except as expressly provided in Section 3.3 hereof, Executive shall also be
entitled to receive such compensation or benefits as may be provided under the
terms of a separate plan or amendment maintained by the Company (or its
Affiliates) to the extent such compensation or benefits are not duplicative of
the compensation or benefits described above.

     3.2  TERMINATION FOR DEATH OR DISABILITY.  If Executive dies or becomes
disabled during the Employment Term, this Agreement and Executive's employment
hereunder shall immediately terminate and the Company's obligations hereunder
shall automatically cease.  In such event, the Company shall pay to Executive
(or her estate) the amounts described in Sections 3.1a and 3.1c hereof.  Payment
shall be made in the form of one or more single-sums as soon as practicable
after Executive's death or disability or as and when such amounts are
ascertainable.

     For purposes of this Section 3.2, Executive shall be deemed "disabled" if
she is actually receiving benefits or is eligible to receive benefits under the
Company's (or an Affiliate's) separate long-term disability plan. The Board
shall determine whether Executive is disabled hereunder.

                                                                          Page 4
<PAGE>

     3.3  COMPANY'S TERMINATION FOR CAUSE.  This Agreement and Executive's
employment hereunder may be terminated by the Company on account of Cause.  In
such event, the Company shall pay to Executive the amount described in Section
3.1a hereof.  Payment shall be made in the form of a single-sum not later than
three days after such termination.  Notwithstanding any provision of this
Agreement or any other plan, policy or agreement evidencing any other
compensation arrangement or benefit payable to Executive, no additional amount
shall be paid to Executive, except as may be required by law.

     For purposes of this Agreement "Cause" means that Executive has:

     a.   Committed an intentional act of fraud, embezzlement or theft in the
          course of her employment or otherwise engaged in any intentional
          misconduct which is materially injurious to the Company's (or an
          Affiliate's) financial condition or business reputation;

     b.   Committed intentional damage to the property of the Company (or an
          Affiliate) or committed intentional wrongful disclosure of
          Confidential Information (as defined in Section 5.2) which is
          materially injurious to the Company's (or an Affiliate's) financial
          condition or business reputation;

     c.   Intentionally refused to perform the material duties of her position;
          or

     d.   A material breach of this Agreement by Executive.

No act or failure to act on the part of Executive will be deemed "intentional"
if it was due primarily to an error in judgment or negligence, but will be
deemed "intentional" only if done or omitted to be done by Executive not in good
faith and without reasonable belief that her action or omission was in the best
interest of the Company (or an Affiliate).

     The Board, acting in good faith, may terminate Executive's employment
hereunder on account of Cause (or may determine that any termination by the
Company is on account of Cause).  The Board shall provide written notice to
Executive, including a description of the specific reasons for the determination
of Cause.  Executive shall have the opportunity to appear before the Board, with
or without legal representation, to present arguments and evidence on her
behalf.  Following such presentation (or upon Executive's failure to appear),
the Board, by an affirmative vote of not less than 66% of its members, shall
confirm that the actions or inactions of Executive constitute Cause hereunder.

     3.4  EXECUTIVE'S CONSTRUCTIVE TERMINATION. Executive may terminate this
Agreement and her employment hereunder on account of a Constructive Termination
upon 30 days prior written notice to the Chief Executive Officer (or such
shorter period as may be agreed upon by the parties hereto.)  In such event, the
Company shall provide to Executive (a) the amount described in Section 3.1a
hereof, payable not later than three days after her termination of employment,
(b) the amounts determined under Sections 3.1b and 3.1d hereof, payable in not
more than two equal installments, one-half not later than 30 days after
termination and the other

                                                                          Page 5
<PAGE>

one-half six months after such termination, and (c) the benefits described in
Sections 3.1e, 3.1f and 3.1g hereof.

     For purposes of this Agreement, "Constructive Termination" means:

     a.   A material reduction (other than a reduction in pay uniformly
          applicable to all officers of the Company) in the amount of
          Executive's Base Compensation;

     b.   A material reduction in Executive's authority, duties or
          responsibilities from those contemplated in Section 1.1 of this
          Agreement; or

     c.   A material breach of this Agreement by the Company or its Affiliates.

No event or condition described in this Section 3.4 shall constitute a
Constructive Termination unless (a) Executive promptly gives the Company notice
of her objection to such event or condition, which notice may be provided orally
or in writing to the Chief Executive Officer or his designee, (b) such event or
condition is not corrected by the Company promptly after receipt of such notice,
but in no event more than 30 days after receipt of notice, and (c) Executive
resigns her employment with the Company (and all Affiliates) not more than 15
days following the expiration of the 30-day period described in subparagraph (b)
hereof.

     3.5  TERMINATION BY THE COMPANY, WITHOUT CAUSE.  The Company may terminate
this Agreement and Executive's employment hereunder, without Cause, upon 30 days
prior written notice to Executive (or such shorter period as may be agreed upon
by Executive and the Chief Executive officer).  In such event, the Company shall
provide to Executive (a) the amount described in Section 3.1a hereof, payable
not later than three days after such termination, (b) the amounts determined
under Sections 3.1b and 3.1d hereof, payable in not more than two equal
installments, one-half not later than 30 days after termination and the other
one-half six months after such termination, and (c) the benefits described in
Sections 3.1e, 3.1f and 3.1g hereof.

     3.6  TERMINATION BY EXECUTIVE.  Executive may terminate this Agreement and
her employment hereunder, other than on account of Constructive Termination,
upon 30 days prior written notice to the Company or such shorter period as may
be agreed upon by the Chief Executive Officer and Executive.  In such event, the
Company shall pay to Executive the amount described in Section 3.1a hereof.
Payment shall be made in the form of a single-sum not later than three days
after such termination.  No additional payments or benefits shall be due
hereunder, except as may be provided under a separate plan, policy or program
evidencing such compensation arrangement or benefit or as may be required by
law.

     3.7  RETURN OF PROPERTY.  Upon termination of this Agreement for any
reason, Executive  shall promptly return to the Company all of the property of
the Company (and its Affiliates), including, without limitation, automobiles,
equipment, computers, fax machines, portable telephones, printers, software,
credit cards, manuals, customer lists, financial data, letters, notes,
notebooks, reports and copies of any of the above and any Confidential

                                                                          Page 6
<PAGE>

Information (as defined in Section 5.2 hereof) that is in the possession or
under the control of Executive.

     3.8  CONSIDERATION FOR OTHER AGREEMENTS.  Executive acknowledges that all
or a portion of the amount payable under Section 3.1d hereof is in excess of the
amount otherwise due or payable under the Annual Incentive Compensation Plan and
that the payment of such excess amount shall constitute adequate consideration
for the execution of such separate waivers or releases as the Company (or
Affiliate) may request Executive to execute in connection with the termination
of her employment hereunder.  Executive agrees that failure to execute any such
waiver or release within the time request by the Company shall result in the
forfeiture of the excess amount payable under Section 3.1d hereof.

                 4.  CHANGE IN CONTROL AND BUSINESS TRANSACTION

     4.1  DEFINITIONS.  The terms "Change in Control" and "Business Transaction"
shall have the meanings ascribed to them in the Cleco Corporation 2000 Long-Term
Incentive Compensation Plan, as the same may be amended from time to time.

     The term "Good Reason," when used herein, shall mean that in connection
with a Change in Control:

     a.   Executive's Base Compensation in effect immediately before such Change
          in Control is reduced or there is a significant reduction or
          termination of Executive's rights to any employee benefit in effect
          immediately prior to the Change in Control;

     b.   Executive's authority, duties or responsibilities are significantly
          reduced from those contemplated in Section 1.1 hereof or Executive has
          reasonably determined that, as a result of a change in circumstances
          that significantly affects her employment with the Company (or an
          Affiliate), she is unable to exercise the authority, power, duties and
          responsibilities contemplated in Section 1.1 hereof;

     c.   Executive is required to be away from her office in the course of
          discharging her duties and responsibilities under this Agreement
          significantly more than was required prior to the Change in Control;
          or

     d.   Executive is required to transfer to an office or business location
          located more than 60 miles from the location to which she was assigned
          prior to the Change in Control.

No event or condition described in this Section 4.1 shall constitute Good Reason
unless (a) Executive gives the Company notice of her objection to such event or
condition within a reasonable period after Executive learns of such event, which
notice may be delivered orally or in writing to the Chief Executive Officer (or
his designee), (b) such event or condition is not promptly corrected by the
Company, but in no event later than 30 days after receipt of such

                                                                          Page 7
<PAGE>

notice, and (c) Executive resigns her employment with the Company (and its
Affiliates) not more than 60 days following the expiration of the 30-day period
described in subparagraph (b) hereof.

     4.2  TERMINATION IN CONNECTION WITH A CHANGE IN CONTROL.  If Executive's
employment described herein is terminated by the Company, without Cause (as
defined in Section 3.3 hereof), or Executive terminates her employment hereunder
for Good Reason at any time within the 60-day period preceding or 36-month
period following such Change in Control, then notwithstanding any provision of
this Agreement to the contrary and in lieu of any compensation or benefits
otherwise payable hereunder:

     a.   The Company shall pay to Executive the amount described in Section
          3.1a in the form of a single-sum not later than three days after such
          termination.

     b.   The Company shall pay to Executive the amount described in Section
          3.1d in the form of a single-sum not later than 30 days after such
          termination.

     c.   The Company shall pay an amount equal to three times Executive's "base
          amount" as determined under Code Section 280G, payable in the form of
          a single-sum not later than 30 days after such termination.

     d.   The Company shall provide to Executive and her dependents coverage
          under the Company's or an Affiliate's group medical plan for the same
          type and level of health benefits received by Executive and her
          dependents immediately prior to such termination for a period of three
          years or until Executive and/or her dependents obtain coverage under a
          reasonably satisfactory group health plan with no applicable
          preexisting condition limitation, whichever comes first; such coverage
          to be in addition to any coverage available to Executive and her
          dependents under Code Section 4980B.

     e.   Vesting shall be accelerated, any restrictions shall lapse, and all
          performance objectives shall be deemed satisfied as to any outstanding
          grants or awards made to Executive under the 2000 Long-Term Incentive
          Compensation Plan and/or the 1990 Long-Term Incentive Compensation
          Plan.  Executive shall be entitled to such additional benefits or
          rights as may be provided in the documents evidencing such plans or
          the terms of any agreement evidencing such grant or award.

     f.   Executive shall be fully vested for purposes of any service or similar
          requirement imposed under the Supplemental Plan, regardless of the
          actual number of years of service attained by Executive.  Executive
          shall be credited with an additional three years of age for purposes
          of determining her benefit percentage under the Supplemental Plan, but
          in no event shall such benefit percentage be less than 50%; and
          Executive shall be credited with an additional three years of age for
          purposes of determining any reduction taken with respect to benefits
          commencing before Executive's normal retirement date (as defined in
          such plan).

                                                                          Page 8
<PAGE>

     g.   If Executive's principal office is located in Pineville, Louisiana,
          the Company shall, at the written request of Executive:

          i.   Purchase her principal residence if such residence is located
               within 60 miles of the Company's Pineville, Louisiana office (the
               "Principal Residence") for an amount equal to the greater of (1)
               the purchase price of such Principal Residence plus the
               documented cost of any capital improvements to the Principal
               Residence made by Executive, or (2) the fair market value of such
               Principal Residence as determined by the Company's usual
               relocation practice; and

          ii.  Pay or reimburse Executive for the cost of relocating Executive,
               her family and their household goods and other personal property,
               in accordance with the Company's usual relocation practice, to
               any location in the United States.

          Notwithstanding the foregoing, the Company shall not be obligated
          hereunder, unless, within 12 months after the termination of her
          employment with the Company (and its Affiliates), the Company is
          requested to purchase such Principal Residence or Executive has
          actually relocated from the Pineville, Louisiana area.

     h.   The Company shall pay to Executive an amount equal to the Company's
          (including all Affiliates) maximum matching contribution obligation
          under the Cleco Corporation 401(k) Savings and Investment Plan, as the
          same may be amended from time to time, for each of the three years
          immediately following Executive's termination of employment,
          determined as if Executive was credited with at least 1,000 hours of
          service in each such plan year, was employed as of the last day of
          each plan year, and contributed the maximum permissible amount under
          Code Section 402(g) in each such year, but determined using the amount
          in effect as of the date of Executive's termination of employment;
          such amount shall be paid in the form of a single-sum not later than
          30 days after Executive's termination of employment hereunder.

     4.3  BUSINESS TRANSACTION. If Executive's employment hereunder is
terminated (other than on account of Cause as defined in Section 3.3 hereof) in
connection with a Business Transaction, then notwithstanding any provision of
this Agreement to the contrary, the Company shall pay or provide to Executive
(a) the amount described in Section 3.1a hereof, payable not later than three
days after her termination of employment, (b) the amounts determined under
Sections 3.1b and 3.1d hereof, payable in not more than two equal installments,
one-half not later than 30 days after termination and the other one-half six
months after such termination, and (c) the benefits described in Sections 3.1e
and 3.1f and 4.2e and 4.2f hereof.

                                                                          Page 9
<PAGE>

  4.4  TAX PAYMENT. If any payment to Executive pursuant to this Agreement or
any other payment or benefit from the Company or an Affiliate in connection with
a Change in Control or Business Transaction is subject to the excise tax imposed
under Code Section 4999 or any similar excise or penalty tax payable under any
United States federal, state, local or other law, the Company shall pay an
amount to Executive such that, after the payment by Executive of all taxes on
such amount, there remains a balance sufficient to pay such excise or penalty
tax. Executive shall submit to the Company the amount to be paid under this
Section 4.4, together with supporting documentation. If Executive and the
Company disagree as to such amount, an independent public accounting firm agreed
upon by Executive and the Company shall make such determination.

                         5.  LIMITATIONS ON ACTIVITIES

  5.1  CONSIDERATION FOR LIMITATION ON ACTIVITIES.  Executive acknowledges that
the execution of this Agreement and the payments described herein constitute
consideration for the limitations on activities set forth in this Section 5, the
adequacy of which is hereby expressly acknowledged by Executive.

  5.2  CONFIDENTIAL INFORMATION.  Executive recognizes and acknowledges that
during the terms of her employment, he will have access to confidential,
proprietary, non-public information concerning the Company and its Affiliates,
which may include, without limitation, (a) books and records relating to
operations, finance, accounting, personnel and management, (b) price, rate and
volume data, future price and rate plans, and test data, (c) information related
to product design and development, (d) computer software, customer lists,
information obtained on competitors, and sales tactics, and (e) various other
non-public trade or business information, including business opportunities,
marketing or business diversification plans, methods and processes, and
financial data and the like (collectively, the "Confidential Information").
Executive agrees that she will not at any time, either while employed by the
Company or afterwards, make any independent use of, or disclose to any other
person or organization (except as authorized by the Company or pursuant to court
order) any of the Confidential Information.

  5.3  NON-SOLICITATION.  Executive agrees that during the one-year period
commencing as of the date of voluntary termination by Executive (as described in
Section 3.6 hereof) or the involuntary termination of Executive on account of
Cause (as described in Section 3.3 hereof), she shall not, directly or
indirectly, for his own benefit or on behalf of another or to the Company's (or
an Affiliate's) detriment:

     a.   Hire or offer to hire any of the Company's (or Affiliate's) officers,
          employees or agents;

     b.   Persuade or attempt to persuade in any manner any officer, employee or
          agent of the Company (or an Affiliate) to discontinue any relationship
          with the Company; or

                                                                         Page 10
<PAGE>

     c.   Solicit or divert or attempt to divert any customer or supplier of the
          Company or an Affiliate.

The provisions of this Section 5.3 shall apply in the locations set forth on
Exhibit A hereto, as the same may be amended from time to time.  Executive
acknowledges that the Company (or its Affiliates) is presently doing business in
such locations and that during the Employment Term Executive will be required to
provide services to or for the benefit of the Company (or its Affiliates) in
such locations.

     The parties agree that each of the foregoing prohibitions is intended to
constitute a separate restriction. Accordingly, should any such prohibition be
declared invalid or unenforceable, such prohibition shall be deemed severable
from and shall not affect the remainder thereof.  The parties further agree that
each of the foregoing restrictions is reasonable in both time and geographic
scope.

     5.4  BUSINESS REPUTATION.  Executive agrees that during her employment with
the Company (and its Affiliate) and at all times thereafter, she shall refrain
from performing any act, engaging in any conduct or course of action or making
or publishing an adverse, untrue or misleading statement which has or may
reasonably have the effect of demeaning the name or business reputation of the
Company or its Affiliates or which adversely affects (or may reasonably
adversely affect) the best interests (economic or otherwise) of the Company or
an Affiliate.

     5.5  REMEDIES.  In the event of a breach or threatened breach by Executive
of the provisions of Sections 5.2, 5.3 or 5.4 hereof, Executive agrees that the
Company shall be entitled to a temporary restraining order or a preliminary
injunction (without the necessity of posting bond in connection therewith) and
that any additional payments or benefits due to Executive or her dependents
under Sections 3 and 4 hereof shall be canceled and forfeited.  Nothing herein
shall be construed as prohibiting the Company from pursuing any other remedy
available to it for such breach or threatened breach, including the recovery of
damages from Executive.

                               6.  MISCELLANEOUS

     6.1  MITIGATION NOT REQUIRED.  As a condition of any payment hereunder,
Executive shall not be required to mitigate the amount of such payment by
seeking other employment or otherwise, nor will any profits, income, earnings or
other benefits from any source whatsoever create any mitigation, offset,
reduction or any other obligation on the part of Executive under this Agreement.

     6.2  ENFORCEMENT OF THIS AGREEMENT.  In the event any dispute in connection
with this Agreement arises with respect to obligations of Executive or the
Company that were required prior to the occurrence of a Change in Control or a
Business Transaction, all costs, fees and expenses, including attorney fees, of
any litigation, arbitration or other legal action in connection with such
matters in which Executive substantially prevails, shall be borne by, and be the
obligation of, the Company.

                                                                         Page 11
<PAGE>

     After a Change in Control or Business Transaction has occurred, Executive
shall not be required to incur legal fees and the related expenses associated
with the interpretation, enforcement or defense of Executive's rights under this
Agreement by litigation or otherwise.  Accordingly, if, following a Change in
Control or Business Transaction, the Company has failed to comply with any of
its obligations under this Agreement or the Company or any other person takes or
threatens to take any action to declare this Agreement void or unenforceable or
in any way reduce the possibility of collecting the amounts due hereunder, or
institutes any litigation or other action or proceeding designed to deny or to
recover from Executive the benefits provided or intended to be provided under
this Agreement, Executive shall be entitled to retain counsel of Executive's
choice, at the expense of the Company, to advise and represent Executive in
connection with any such interpretation, enforcement or defense, including
without limitation the initiation or defense of any litigation, arbitration or
other legal action, whether by or against the Company or any director, officer,
stockholder or other person affiliated with the Company, in any jurisdiction.
The Company shall pay and be solely financially responsible for any and all
attorneys' and related fees and expenses incurred by Executive in connection
with any of the foregoing, without regard to whether Executive prevails, in
whole or in part.

     In no event shall Executive be required to reimburse the Company for any of
the costs and expenses incurred by the Company relating to arbitration,
litigation or other legal action in connection with this Agreement.

     6.3  NO SET-OFF.   There shall be no right of set-off or counterclaim in
respect of any claim, debt or obligation against any payment to Executive
provided for in this Agreement.

     6.4  ASSISTANCE WITH LITIGATION.  For a period of one year after the end of
the last period for which Executive will have received any compensation under
this Agreement, Executive will furnish such information and proper assistance as
may be reasonably necessary in connection with any litigation in which the
Company (or an Affiliate) is then or may become involved.

     6.5  HEADINGS.  Section and other headings contained in this Agreement are
for reference purposes only and shall not affect in any way the meaning or
interpretation of this Agreement.

     6.6  ENTIRE AGREEMENT.  This Agreement constitutes the entire understanding
and agreement among the parties hereto with respect to the subject matter
hereof, and there are no other agreements, understandings, restrictions,
representations or warranties among the parties other than those set forth
herein.

     6.7  AMENDMENTS.  This Agreement may be amended or modified at any time in
any or all respects, but only by an instrument in writing executed by the
parties hereto.

     6.8  CHOICE OF LAW.  The validity of this Agreement, the construction of
its terms, and the determination of the rights and duties of the parties hereto
shall be governed by and

                                                                         Page 12
<PAGE>

construed in accordance with the internal laws of the State of Louisiana
applicable to contracts made to be performed wholly within such state.

     6.9  NOTICES.  All notices and other communications under this Agreement
must be in writing and will be deemed to have been duly given when (a) delivered
by hand, (b) sent by telecopier to a telecopier number given below, provided
that a copy is sent by a nationally recognized overnight delivery service
(receipt requested), or (c) when received by the addressee, if sent by a
nationally recognized overnight delivery service (receipt requested), in each
case as follows:

          If to Executive:      Catherine C. Powell
                                232 Adams Path
                                Pineville, Louisiana 71360

          If to the Company:    Cleco Corporation
                                2030 Donahue Ferry Road
                                Pineville, LA 71360
                                Attention: Chief Executive Officer
                                Telecopier:   (318) 484-7777

or to such other addresses as a party may designate by notice to the other
party.

     6.10 ASSIGNMENT.  This Agreement will inure to the benefit of and be
binding upon the Company, its Affiliates, successors and assigns, including,
without limitation, any person, partnership, company, corporation or other
entity that may acquire substantially all of the Company's assets or business or
with or into which the Company may be liquidated, consolidated, merged or
otherwise combined, and will inure to the benefit of and be binding upon
Executive, her heirs, estate, legatees and legal representatives.  If payments
become payable to Executive's surviving spouse or other assigns and such person
thereafter dies, such payment will revert to Executive's estate.

     6.11 SEVERABILITY.  Each provision of this Agreement is intended to be
severable.  In the event that any one or more of the provisions contained in
this Agreement shall for any reason be held to be invalid, illegal or
unenforceable, the same shall not affect the validity or enforceability of any
other provision of this Agreement, but this Agreement shall be construed as if
such invalid, illegal or unenforceable provisions was not contained herein.
Notwithstanding the foregoing, however, no provision shall be severed if it is
clearly apparent under the circumstances that the parties would not have entered
into this Agreement without such provision.

     6.12 WITHHOLDING.  The Company (or an Affiliate) may withhold from any
payment hereunder any federal, state or local taxes required to be withheld.

     6.13 SURVIVAL.   Notwithstanding anything herein to the contrary, to the
extent applicable, the obligations of the Company (and its Affiliates) under
Sections 3 and 4, and the

                                                                         Page 13
<PAGE>

obligations of Executive under Sections 3 and 5, shall remain operative and in
full force and effect regardless of the expiration of this Agreement.

     6.14 WAIVER.  The failure of either party to insist in any one or more
instances upon performance of any terms or conditions of this Agreement will not
be construed as a waiver of future performance of any such term, covenant, or
condition and the obligations of either party with respect to such term,
covenant or condition will continue in full force and effect.

     THIS AGREEMENT is executed in multiple counterparts as of the dates set
forth below, each of which shall be deemed an original, to be effective as of
the Effective Date designated above.

CLECO CORPORATION                        EXECUTIVE

By:
   ------------------------------        -------------------------------
                                         CATHERINE C. POWELL
Its:
    -----------------------------

Date:                                    Date:
     ----------------------------             --------------------------

                                                                         Page 14
<PAGE>

                               CLECO CORPORATION
                         EXECUTIVE EMPLOYMENT AGREEMENT

                                   EXHIBIT A

     This Exhibit A is intended to form a part of that certain Executive
Employment Agreement by and between Cleco Corporation and CATHERINE C. POWELL,
first effective as of July 28, 2000.  The parties agree that the proscriptions
set forth in Section 5.3 thereof shall apply in the State of Louisiana, Parishes
of:

     Acadia Parish
     Allen Parish
     Avoyelles Parish
     Beauregard Parish
     Calcasieu Parish
     Catahoula Parish
     Desoto Parish
     Evangeline Parish
     Grant Parish
     Iberia Parish
     Jefferson Davis Parish
     Lafayette Parish
     Lasalle Parish
     Natchitoches Parish
     Rapides Parish
     Red River Parish
     Sabine Parish
     St. Landry Parish
     St. Martin Parish
     St. Mary Parish
     St. Tammany Parish
     Vernon Parish
     Washington Parish

Executive and the Company agree that the Company shall amend this Exhibit A,
from time to time, to eliminate Parishes in which the Company is no longer doing
business and to add Parishes in which the Company is currently doing business.

                                                                         Page 15
<PAGE>

                                                                   EXHIBIT 10(y)

                               CLECO CORPORATION

                         EXECUTIVE EMPLOYMENT AGREEMENT
                                   (LEVEL 1)

     THIS AGREEMENT (the "Agreement") is entered into as of this 28th day of
July, 2000, by and between DARRELL J. DUBROC ("Executive"), and Cleco
Corporation, a Louisiana corporation (the "Company"), and is intended to amend
and restate, in its entirety, that certain Executive Severance Agreement between
Cleco Utility Group Inc. and Executive, initially effective as of January 1,
1998.

                            1.  EMPLOYMENT AND TERM

     1.1  POSITION.  The Company shall employ and retain Executive as its Senior
Vice President Generation Services or in such other capacity or capacities as
shall be mutually agreed upon, from time to time, by Executive and the Company,
and Executive agrees to be so employed, subject to the terms and conditions set
forth herein.  Executive's duties and responsibilities shall be those assigned
to him hereunder, from time to time, by the Chief Executive Officer of the
Company and shall include such duties as are the type and nature normally
assigned to similar executive officers of a corporation of the size, type and
stature of the Company.  Executive shall report to the Chief Executive Officer.

     1.2  CONCURRENT EMPLOYMENT.  During the term of this Agreement, Executive
and the Company acknowledge that Executive may be concurrently employed by the
Company and a subsidiary or other entity with respect to which the Company owns
(within the meaning of Section 425(f) of the Internal Revenue Code of 1986, as
amended (the "Code")) 50% or more of the total combined voting power of all
classes of stock or other equity interests (an "Affiliate"), and that all of the
terms and conditions of this Agreement shall apply to such concurrent
employment.  Reference to the Company hereunder shall be deemed to include any
such concurrent employers.

     1.3  FULL TIME AND ATTENTION.  During the term of this Agreement and any
extensions or renewals thereof, Executive shall devote his full time, attention
and energies to the business of the Company and will not, without the prior
written consent of the Chief Executive Officer of the Company, be engaged
(whether or not during normal business hours) in any other business or
professional activity, whether or not such activities are pursued for gain,
profit or other pecuniary advantage.

     Notwithstanding the foregoing, Executive shall not be prevented from (a)
engaging in any civic or charitable activity for which Executive receives no
compensation or other pecuniary advantage, (b) investing his personal assets in
businesses which do not compete with the Company, provided that such investment
will not require any services on the part of Executive in the operation of the
affairs of the businesses in which investments are made and provided further
that Executive's participation in such businesses is solely that of an investor,
or (c) purchasing
<PAGE>

securities in any corporation whose securities are regularly traded, provided
that such purchases will not result in Executive owning beneficially at any time
5% or more of the equity securities of any corporation engaged in a business
competitive with that of the Company.

     1.4  TERM.  Executive's employment under this Agreement shall commence as
of July  28, 2000 (the "Effective Date"), and shall terminate on July 28, 2003
(such date or the last day of employment specified in any renewal or amendment
hereof referred to herein as the "Termination Date") (the period commencing as
of the Effective Date and ending as of the Termination Date referred to herein
as the "Employment Term").

     Commencing on the second anniversary of the Effective Date and each
anniversary thereafter, Executive's employment shall automatically be extended
for an additional one-year period; provided, however, that either party may
provide written notice to the other that the Employment Term will not be further
extended, such notice to be provided not later than 30 days prior to the end of
the then current Employment Term.

                         2.  COMPENSATION AND BENEFITS

     2.1  BASE COMPENSATION.  The Company shall pay Executive an annual salary
equal to his annual base salary in effect as of the Effective Date, such amount
shall be prorated and paid in equal installments in accordance with the
Company's regular payroll practices and policies and shall be subject to
applicable withholding and other applicable taxes (Executive's "Base
Compensation").  Executive's Base Compensation shall be reviewed no less often
than annually and may be increased or reduced by the Board of Directors of the
Company (the "Board"), in its sole discretion; provided, however, that
Executive's Base Compensation may not be reduced at any time unless such
reduction is part of a reduction in pay uniformly applicable to all officers of
the Company.

     2.2  ANNUAL INCENTIVE BONUS.  In addition to the foregoing, Executive shall
be eligible for participation in the Annual Incentive Compensation Plan or
similar bonus arrangement maintained by the Company or an Affiliate or such
other bonus or incentive plans which the Company or its Affiliates may adopt,
from time to time, for similarly situated executives (an "Incentive Bonus").

     2.3  LONG-TERM INCENTIVES.  In addition to the foregoing, Executive shall
be eligible for participation in the 2000 Long-Term Incentive Compensation Plan
maintained by the Company and such other long-term incentive plans which the
Company or its Affiliates may adopt, from time to time, for similarly situated
executives (a "Long-Term Incentive").

     2.4  SUPPLEMENTAL RETIREMENT BENEFIT.  In addition to the foregoing,
Executive shall be eligible to participate in the Supplemental Executive
Retirement Plan maintained by Cleco Utility Group Inc. or such other
supplemental retirement benefit plans which the Company or its Affiliates may
adopt, from time to time, for similarly situated executives (the "Supplemental
Plan").

                                                                          Page 2
<PAGE>

     2.5  OTHER BENEFITS. During the term of this Agreement and in addition to
the amounts otherwise provided herein, Executive shall participate in such
plans, policies, and programs as may be maintained, from time to time, by the
Company or its Affiliates for the benefit of senior executives or employees,
including, without limitation, profit sharing, life insurance, and group medical
and other welfare benefit plans.  Any such benefits shall be determined in
accordance with the specific terms and conditions of the documents evidencing
any such plans, policies, and programs.

     2.6  REIMBURSEMENT OF EXPENSES.   The Company shall reimburse Executive for
such reasonable and necessary expenses as are incurred in carrying out his
duties hereunder, consistent with the Company's standard policies and annual
budget.  The Company's obligation to reimburse Executive hereunder shall be
contingent upon the presentment by Executive of an itemized accounting of such
expenditures.

                                3.  TERMINATION

     3.1  TERMINATION PAYMENTS TO EXECUTIVE.  As set forth more fully in this
Section 3 and except as provided in Sections 3.3 or 3.8 hereof, Executive shall
be paid the greater of the amounts or benefits set forth below or the amounts or
benefits provided under the terms of the separate plan or arrangement maintained
by the Company (or its Affiliates) on account of termination of employment
hereunder:

     a.   Executive's Base Compensation accrued but not yet paid as of the date
          of his termination.

     b.   Executive's Base Compensation payable until the Termination Date
          (determined without regard to the automatic renewal provisions of
          Section 1.4 hereof), but not less than 100% of such annual Base
          Compensation.

     c.   Executive's Incentive Bonus payable with respect to the year of his
          termination, prorated to reflect Executive's actual period of service
          during such year.

     d.   Executive's Incentive Bonus payable in the target amount for the year
          in which his termination of employment occurs.

     e.   If Executive's principal office is located in Pineville, Louisiana,
          the Company shall, at the written request of Executive:

          i.   Purchase his principal residence if such residence is located
               within 60 miles of the Company's Pineville, Louisiana office (the
               "Principal Residence") for an amount equal to the greater of (1)
               the purchase price of such Principal Residence plus the
               documented cost of any capital improvements to the Principal
               Residence made by Executive, or (2) the fair market value of such
               Principal Residence as determined by the Company's usual
               relocation practice; and

                                                                          Page 3
<PAGE>

          ii.  Pay or reimburse Executive for the cost of relocating Executive,
               his family and their household goods and other personal property,
               in accordance with the Company's usual relocation practice, to
               any location in the United States.

          Notwithstanding the foregoing, the Company shall not be obligated
          hereunder, unless, within 12 months after the termination of his
          employment with the Company (and its Affiliates), the Company is
          requested to purchase such Principal Residence or Executive has
          actually relocated from the Pineville, Louisiana area.

     f.   If Executive and/or his dependents elects to continue group medical
          coverage, within the meaning of Code Section 4980B(f)(2), with respect
          to a group health plan sponsored by the Company or an Affiliate (other
          than a health flexible spending account under a self-insured medical
          reimbursement plan described in Code Sections 125 and 105(h)), the
          Company shall pay the continuation coverage premium for the same type
          and level of group health plan coverage received by Executive and his
          electing dependents immediately prior to such termination of
          Executive's employment for the maximum period provided under Code
          Section 4980B.

     g.   Executive shall be fully vested for purposes of any service or similar
          requirement imposed under the Cleco Utility Group Inc. Supplemental
          Executive Retirement Plan (the "Supplemental Plan"), regardless of the
          actual number of years of service attained by Executive.

Except as expressly provided in Section 3.3 hereof, Executive shall also be
entitled to receive such compensation or benefits as may be provided under the
terms of a separate plan or amendment maintained by the Company (or its
Affiliates) to the extent such compensation or benefits are not duplicative of
the compensation or benefits described above.

     3.2  TERMINATION FOR DEATH OR DISABILITY.  If Executive dies or becomes
disabled during the Employment Term, this Agreement and Executive's employment
hereunder shall immediately terminate and the Company's obligations hereunder
shall automatically cease.  In such event, the Company shall pay to Executive
(or his estate) the amounts described in Sections 3.1a and 3.1c hereof.  Payment
shall be made in the form of one or more single-sums as soon as practicable
after Executive's death or disability or as and when such amounts are
ascertainable.

     For purposes of this Section 3.2, Executive shall be deemed "disabled" if
he is actually receiving benefits or is eligible to receive benefits under the
Company's (or an Affiliate's) separate long-term disability plan. The Board
shall determine whether Executive is disabled hereunder.

                                                                          Page 4
<PAGE>

     3.3  COMPANY'S TERMINATION FOR CAUSE.  This Agreement and Executive's
employment hereunder may be terminated by the Company on account of Cause.  In
such event, the Company shall pay to Executive the amount described in Section
3.1a hereof.  Payment shall be made in the form of a single-sum not later than
three days after such termination.  Notwithstanding any provision of this
Agreement or any other plan, policy or agreement evidencing any other
compensation arrangement or benefit payable to Executive, no additional amount
shall be paid to Executive, except as may be required by law.

     For purposes of this Agreement "Cause" means that Executive has:

     a.   Committed an intentional act of fraud, embezzlement or theft in the
          course of his employment or otherwise engaged in any intentional
          misconduct which is materially injurious to the Company's (or an
          Affiliate's) financial condition or business reputation;

     b.   Committed intentional damage to the property of the Company (or an
          Affiliate) or committed intentional wrongful disclosure of
          Confidential Information (as defined in Section 5.2) which is
          materially injurious to the Company's (or an Affiliate's) financial
          condition or business reputation;

     c.   Intentionally refused to perform the material duties of his position;
          or

     d.   A material breach of this Agreement by Executive.

No act or failure to act on the part of Executive will be deemed "intentional"
if it was due primarily to an error in judgment or negligence, but will be
deemed "intentional" only if done or omitted to be done by Executive not in good
faith and without reasonable belief that his action or omission was in the best
interest of the Company (or an Affiliate).

     The Board, acting in good faith, may terminate Executive's employment
hereunder on account of Cause (or may determine that any termination by the
Company is on account of Cause).  The Board shall provide written notice to
Executive, including a description of the specific reasons for the determination
of Cause.  Executive shall have the opportunity to appear before the Board, with
or without legal representation, to present arguments and evidence on his
behalf.  Following such presentation (or upon Executive's failure to appear),
the Board, by an affirmative vote of not less than 66% of its members, shall
confirm that the actions or inactions of Executive constitute Cause hereunder.

     3.4  EXECUTIVE'S CONSTRUCTIVE TERMINATION. Executive may terminate this
Agreement and his employment hereunder on account of a Constructive Termination
upon 30 days prior written notice to the Chief Executive Officer (or such
shorter period as may be agreed upon by the parties hereto.)  In such event, the
Company shall provide to Executive (a) the amount described in Section 3.1a
hereof, payable not later than three days after his termination of employment,
(b) the amounts determined under Sections 3.1b and 3.1d hereof, payable in not
more than two equal installments, one-half not later than 30 days after
termination and the other

                                                                          Page 5
<PAGE>

one-half six months after such termination, and (c) the benefits described in
Sections 3.1e, 3.1f and 3.1g hereof.

     For purposes of this Agreement, "Constructive Termination" means:

     a.   A material reduction (other than a reduction in pay uniformly
          applicable to all officers of the Company) in the amount of
          Executive's Base Compensation;

     b.   A material reduction in Executive's authority, duties or
          responsibilities from those contemplated in Section 1.1 of this
          Agreement; or

     c.   A material breach of this Agreement by the Company or its Affiliates.

No event or condition described in this Section 3.4 shall constitute a
Constructive Termination unless (a) Executive promptly gives the Company notice
of his objection to such event or condition, which notice may be provided orally
or in writing to the Chief Executive Officer or his designee, (b) such event or
condition is not corrected by the Company promptly after receipt of such notice,
but in no event more than 30 days after receipt of notice, and (c) Executive
resigns his employment with the Company (and all Affiliates) not more than 15
days following the expiration of the 30-day period described in subparagraph (b)
hereof.

     3.5  TERMINATION BY THE COMPANY, WITHOUT CAUSE.  The Company may terminate
this Agreement and Executive's employment hereunder, without Cause, upon 30 days
prior written notice to Executive (or such shorter period as may be agreed upon
by Executive and the Chief Executive officer).  In such event, the Company shall
provide to Executive (a) the amount described in Section 3.1a hereof, payable
not later than three days after such termination, (b) the amounts determined
under Sections 3.1b and 3.1d hereof, payable in not more than two equal
installments, one-half not later than 30 days after termination and the other
one-half six months after such termination, and (c) the benefits described in
Sections 3.1e, 3.1f and 3.1g hereof.

     3.6  TERMINATION BY EXECUTIVE.  Executive may terminate this Agreement and
his employment hereunder, other than on account of Constructive Termination,
upon 30 days prior written notice to the Company or such shorter period as may
be agreed upon by the Chief Executive Officer and Executive.  In such event, the
Company shall pay to Executive the amount described in Section 3.1a hereof.
Payment shall be made in the form of a single-sum not later than three days
after such termination.  No additional payments or benefits shall be due
hereunder, except as may be provided under a separate plan, policy or program
evidencing such compensation arrangement or benefit or as may be required by
law.

     3.7  RETURN OF PROPERTY.  Upon termination of this Agreement for any
reason, Executive  shall promptly return to the Company all of the property of
the Company (and its Affiliates), including, without limitation, automobiles,
equipment, computers, fax machines, portable telephones, printers, software,
credit cards, manuals, customer lists, financial data, letters, notes,
notebooks, reports and copies of any of the above and any Confidential

                                                                          Page 6
<PAGE>

Information (as defined in Section 5.2 hereof) that is in the possession or
under the control of Executive.

     3.8  CONSIDERATION FOR OTHER AGREEMENTS.  Executive acknowledges that all
or a portion of the amount payable under Section 3.1d hereof is in excess of the
amount otherwise due or payable under the Annual Incentive Compensation Plan and
that the payment of such excess amount shall constitute adequate consideration
for the execution of such separate waivers or releases as the Company (or
Affiliate) may request Executive to execute in connection with the termination
of his employment hereunder.  Executive agrees that failure to execute any such
waiver or release within the time request by the Company shall result in the
forfeiture of the excess amount payable under Section 3.1d hereof.

                 4.  CHANGE IN CONTROL AND BUSINESS TRANSACTION

     4.1  DEFINITIONS.  The terms "Change in Control" and "Business Transaction"
shall have the meanings ascribed to them in the Cleco Corporation 2000 Long-Term
Incentive Compensation Plan, as the same may be amended from time to time.

     The term "Good Reason," when used herein, shall mean that in connection
with a Change in Control:

     a.   Executive's Base Compensation in effect immediately before such Change
          in Control is reduced or there is a significant reduction or
          termination of Executive's rights to any employee benefit in effect
          immediately prior to the Change in Control;

     b.   Executive's authority, duties or responsibilities are significantly
          reduced from those contemplated in Section 1.1 hereof or Executive has
          reasonably determined that, as a result of a change in circumstances
          that significantly affects his employment with the Company (or an
          Affiliate), he is unable to exercise the authority, power, duties and
          responsibilities contemplated in Section 1.1 hereof;

     c.   Executive is required to be away from his office in the course of
          discharging his duties and responsibilities under this Agreement
          significantly more than was required prior to the Change in Control;
          or

     d.   Executive is required to transfer to an office or business location
          located more than 60 miles from the location to which he was assigned
          prior to the Change in Control.

No event or condition described in this Section 4.1 shall constitute Good Reason
unless (a) Executive gives the Company notice of his objection to such event or
condition within a reasonable period after Executive learns of such event, which
notice may be delivered orally or in writing to the Chief Executive Officer (or
his designee), (b) such event or condition is not promptly corrected by the
Company, but in no event later than 30 days after receipt of such

                                                                          Page 7
<PAGE>

notice, and (c) Executive resigns his employment with the Company (and its
Affiliates) not more than 60 days following the expiration of the 30-day period
described in subparagraph (b) hereof.

     4.2  TERMINATION IN CONNECTION WITH A CHANGE IN CONTROL.  If Executive's
employment described herein is terminated by the Company, without Cause (as
defined in Section 3.3 hereof), or Executive terminates his employment hereunder
for Good Reason at any time within the 60-day period preceding or 36-month
period following such Change in Control, then notwithstanding any provision of
this Agreement to the contrary and in lieu of any compensation or benefits
otherwise payable hereunder:

     a.   The Company shall pay to Executive the amount described in Section
          3.1a in the form of a single-sum not later than three days after such
          termination.

     b.   The Company shall pay to Executive the amount described in Section
          3.1d in the form of a single-sum not later than 30 days after such
          termination.

     c.   The Company shall pay an amount equal to three times Executive's "base
          amount" as determined under Code Section 280G, payable in the form of
          a single-sum not later than 30 days after such termination.

     d.   The Company shall provide to Executive and his dependents coverage
          under the Company's or an Affiliate's group medical plan for the same
          type and level of health benefits received by Executive and his
          dependents immediately prior to such termination for a period of three
          years or until Executive and/or his dependents obtain coverage under a
          reasonably satisfactory group health plan with no applicable
          preexisting condition limitation, whichever comes first; such coverage
          to be in addition to any coverage available to Executive and his
          dependents under Code Section 4980B.

     e.   Vesting shall be accelerated, any restrictions shall lapse, and all
          performance objectives shall be deemed satisfied as to any outstanding
          grants or awards made to Executive under the 2000 Long-Term Incentive
          Compensation Plan and/or the 1990 Long-Term Incentive Compensation
          Plan.  Executive shall be entitled to such additional benefits or
          rights as may be provided in the documents evidencing such plans or
          the terms of any agreement evidencing such grant or award.

     f.   Executive shall be fully vested for purposes of any service or similar
          requirement imposed under the Supplemental Plan, regardless of the
          actual number of years of service attained by Executive.  Executive
          shall be credited with an additional three years of age for purposes
          of determining his benefit percentage under the Supplemental Plan, but
          in no event shall such benefit percentage be less than 50%; and
          Executive shall be credited with an additional three years of age for
          purposes of determining any reduction taken with respect to benefits
          commencing before Executive's normal retirement date (as defined in
          such plan).

                                                                          Page 8
<PAGE>

     g.   If Executive's principal office is located in Pineville, Louisiana,
          the Company shall, at the written request of Executive:

          i.   Purchase his principal residence if such residence is located
               within 60 miles of the Company's Pineville, Louisiana office (the
               "Principal Residence") for an amount equal to the greater of (1)
               the purchase price of such Principal Residence plus the
               documented cost of any capital improvements to the Principal
               Residence made by Executive, or (2) the fair market value of such
               Principal Residence as determined by the Company's usual
               relocation practice; and

          ii.  Pay or reimburse Executive for the cost of relocating Executive,
               his family and their household goods and other personal property,
               in accordance with the Company's usual relocation practice, to
               any location in the United States.

          Notwithstanding the foregoing, the Company shall not be obligated
          hereunder, unless, within 12 months after the termination of his
          employment with the Company (and its Affiliates), the Company is
          requested to purchase such Principal Residence or Executive has
          actually relocated from the Pineville, Louisiana area.

     h.   The Company shall pay to Executive an amount equal to the Company's
          (including all Affiliates) maximum matching contribution obligation
          under the Cleco Corporation 401(k) Savings and Investment Plan, as the
          same may be amended from time to time, for each of the three years
          immediately following Executive's termination of employment,
          determined as if Executive was credited with at least 1,000 hours of
          service in each such plan year, was employed as of the last day of
          each plan year, and contributed the maximum permissible amount under
          Code Section 402(g) in each such year, but determined using the amount
          in effect as of the date of Executive's termination of employment;
          such amount shall be paid in the form of a single-sum not later than
          30 days after Executive's termination of employment hereunder.

     4.3  BUSINESS TRANSACTION. If Executive's employment hereunder is
terminated (other than on account of Cause as defined in Section 3.3 hereof) in
connection with a Business Transaction, then notwithstanding any provision of
this Agreement to the contrary, the Company shall pay or provide to Executive
(a) the amount described in Section 3.1a hereof, payable not later than three
days after his termination of employment, (b) the amounts determined under
Sections 3.1b and 3.1d hereof, payable in not more than two equal installments,
one-half not later than 30 days after termination and the other one-half six
months after such termination, and (c) the benefits described in Sections 3.1e
and 3.1f and 4.2e and 4.2f hereof.

                                                                          Page 9
<PAGE>

  4.4  TAX PAYMENT. If any payment to Executive pursuant to this Agreement or
any other payment or benefit from the Company or an Affiliate in connection with
a Change in Control or Business Transaction is subject to the excise tax imposed
under Code Section 4999 or any similar excise or penalty tax payable under any
United States federal, state, local or other law, the Company shall pay an
amount to Executive such that, after the payment by Executive of all taxes on
such amount, there remains a balance sufficient to pay such excise or penalty
tax. Executive shall submit to the Company the amount to be paid under this
Section 4.4, together with supporting documentation. If Executive and the
Company disagree as to such amount, an independent public accounting firm agreed
upon by Executive and the Company shall make such determination.

                         5.  LIMITATIONS ON ACTIVITIES

  5.1  CONSIDERATION FOR LIMITATION ON ACTIVITIES.  Executive acknowledges that
the execution of this Agreement and the payments described herein constitute
consideration for the limitations on activities set forth in this Section 5, the
adequacy of which is hereby expressly acknowledged by Executive.

  5.2  CONFIDENTIAL INFORMATION.  Executive recognizes and acknowledges that
during the terms of his employment, he will have access to confidential,
proprietary, non-public information concerning the Company and its Affiliates,
which may include, without limitation, (a) books and records relating to
operations, finance, accounting, personnel and management, (b) price, rate and
volume data, future price and rate plans, and test data, (c) information related
to product design and development, (d) computer software, customer lists,
information obtained on competitors, and sales tactics, and (e) various other
non-public trade or business information, including business opportunities,
marketing or business diversification plans, methods and processes, and
financial data and the like (collectively, the "Confidential Information").
Executive agrees that he will not at any time, either while employed by the
Company or afterwards, make any independent use of, or disclose to any other
person or organization (except as authorized by the Company or pursuant to court
order) any of the Confidential Information.

  5.3  NON-SOLICITATION.  Executive agrees that during the one-year period
commencing as of the date of voluntary termination by Executive (as described in
Section 3.6 hereof) or the involuntary termination of Executive on account of
Cause (as described in Section 3.3 hereof), he shall not, directly or
indirectly, for his own benefit or on behalf of another or to the Company's (or
an Affiliate's) detriment:

     a.   Hire or offer to hire any of the Company's (or Affiliate's) officers,
          employees or agents;

     b.   Persuade or attempt to persuade in any manner any officer, employee or
          agent of the Company (or an Affiliate) to discontinue any relationship
          with the Company; or

                                                                         Page 10
<PAGE>

     c.   Solicit or divert or attempt to divert any customer or supplier of the
          Company or an Affiliate.

The provisions of this Section 5.3 shall apply in the locations set forth on
Exhibit A hereto, as the same may be amended from time to time.  Executive
acknowledges that the Company (or its Affiliates) is presently doing business in
such locations and that during the Employment Term Executive will be required to
provide services to or for the benefit of the Company (or its Affiliates) in
such locations.

     The parties agree that each of the foregoing prohibitions is intended to
constitute a separate restriction.  Accordingly, should any such prohibition be
declared invalid or unenforceable, such prohibition shall be deemed severable
from and shall not affect the remainder thereof.  The parties further agree that
each of the foregoing restrictions is reasonable in both time and geographic
scope.

     5.4  BUSINESS REPUTATION.  Executive agrees that during his employment with
the Company (and its Affiliate) and at all times thereafter, he shall refrain
from performing any act, engaging in any conduct or course of action or making
or publishing an adverse, untrue or misleading statement which has or may
reasonably have the effect of demeaning the name or business reputation of the
Company or its Affiliates or which adversely affects (or may reasonably
adversely affect) the best interests (economic or otherwise) of the Company or
an Affiliate.

     5.5  REMEDIES.  In the event of a breach or threatened breach by Executive
of the provisions of Sections 5.2, 5.3 or 5.4 hereof, Executive agrees that the
Company shall be entitled to a temporary restraining order or a preliminary
injunction (without the necessity of posting bond in connection therewith) and
that any additional payments or benefits due to Executive or his dependents
under Sections 3 and 4 hereof shall be canceled and forfeited.  Nothing herein
shall be construed as prohibiting the Company from pursuing any other remedy
available to it for such breach or threatened breach, including the recovery of
damages from Executive.

                               6.  MISCELLANEOUS

     6.1  MITIGATION NOT REQUIRED.  As a condition of any payment hereunder,
Executive shall not be required to mitigate the amount of such payment by
seeking other employment or otherwise, nor will any profits, income, earnings or
other benefits from any source whatsoever create any mitigation, offset,
reduction or any other obligation on the part of Executive under this Agreement.

     6.2  ENFORCEMENT OF THIS AGREEMENT.  In the event any dispute in connection
with this Agreement arises with respect to obligations of Executive or the
Company that were required prior to the occurrence of a Change in Control or a
Business Transaction, all costs, fees and expenses, including attorney fees, of
any litigation, arbitration or other legal action in connection with such
matters in which Executive substantially prevails, shall be borne by, and be the
obligation of, the Company.

                                                                         Page 11
<PAGE>

     After a Change in Control or Business Transaction has occurred, Executive
shall not be required to incur legal fees and the related expenses associated
with the interpretation, enforcement or defense of Executive's rights under this
Agreement by litigation or otherwise.  Accordingly, if, following a Change in
Control or Business Transaction, the Company has failed to comply with any of
its obligations under this Agreement or the Company or any other person takes or
threatens to take any action to declare this Agreement void or unenforceable or
in any way reduce the possibility of collecting the amounts due hereunder, or
institutes any litigation or other action or proceeding designed to deny or to
recover from Executive the benefits provided or intended to be provided under
this Agreement, Executive shall be entitled to retain counsel of Executive's
choice, at the expense of the Company, to advise and represent Executive in
connection with any such interpretation, enforcement or defense, including
without limitation the initiation or defense of any litigation, arbitration or
other legal action, whether by or against the Company or any director, officer,
stockholder or other person affiliated with the Company, in any jurisdiction.
The Company shall pay and be solely financially responsible for any and all
attorneys' and related fees and expenses incurred by Executive in connection
with any of the foregoing, without regard to whether Executive prevails, in
whole or in part.

     In no event shall Executive be required to reimburse the Company for any of
the costs and expenses incurred by the Company relating to arbitration,
litigation or other legal action in connection with this Agreement.

     6.3  NO SET-OFF.   There shall be no right of set-off or counterclaim in
respect of any claim, debt or obligation against any payment to Executive
provided for in this Agreement.

     6.4  ASSISTANCE WITH LITIGATION.  For a period of one year after the end of
the last period for which Executive will have received any compensation under
this Agreement, Executive will furnish such information and proper assistance as
may be reasonably necessary in connection with any litigation in which the
Company (or an Affiliate) is then or may become involved.

     6.5  HEADINGS.  Section and other headings contained in this Agreement are
for reference purposes only and shall not affect in any way the meaning or
interpretation of this Agreement.

     6.6  ENTIRE AGREEMENT.  This Agreement constitutes the entire understanding
and agreement among the parties hereto with respect to the subject matter
hereof, and there are no other agreements, understandings, restrictions,
representations or warranties among the parties other than those set forth
herein.

     6.7  AMENDMENTS.  This Agreement may be amended or modified at any time in
any or all respects, but only by an instrument in writing executed by the
parties hereto.

     6.8  CHOICE OF LAW.  The validity of this Agreement, the construction of
its terms, and the determination of the rights and duties of the parties hereto
shall be governed by and

                                                                         Page 12
<PAGE>

construed in accordance with the internal laws of the State of Louisiana
applicable to contracts made to be performed wholly within such state.

     6.9  NOTICES.  All notices and other communications under this Agreement
must be in writing and will be deemed to have been duly given when (a) delivered
by hand, (b) sent by telecopier to a telecopier number given below, provided
that a copy is sent by a nationally recognized overnight delivery service
(receipt requested), or (c) when received by the addressee, if sent by a
nationally recognized overnight delivery service (receipt requested), in each
case as follows:

          If to Executive:      Darrell J. Dubroc
                                1929 Highway 1
                                Marksville, Louisiana  71351

          If to the Company:    Cleco Corporation
                                2030 Donahue Ferry Road
                                Pineville, LA 71360
                                Attention: Chief Executive Officer
                                Telecopier:   (318) 484-7777

or to such other addresses as a party may designate by notice to the other
party.

     6.10 ASSIGNMENT.  This Agreement will inure to the benefit of and be
binding upon the Company, its Affiliates, successors and assigns, including,
without limitation, any person, partnership, company, corporation or other
entity that may acquire substantially all of the Company's assets or business or
with or into which the Company may be liquidated, consolidated, merged or
otherwise combined, and will inure to the benefit of and be binding upon
Executive, his heirs, estate, legatees and legal representatives.  If payments
become payable to Executive's surviving spouse or other assigns and such person
thereafter dies, such payment will revert to Executive's estate.

     6.11 SEVERABILITY.  Each provision of this Agreement is intended to be
severable.  In the event that any one or more of the provisions contained in
this Agreement shall for any reason be held to be invalid, illegal or
unenforceable, the same shall not affect the validity or enforceability of any
other provision of this Agreement, but this Agreement shall be construed as if
such invalid, illegal or unenforceable provisions was not contained herein.
Notwithstanding the foregoing, however, no provision shall be severed if it is
clearly apparent under the circumstances that the parties would not have entered
into this Agreement without such provision.

     6.12 WITHHOLDING.  The Company (or an Affiliate) may withhold from any
payment hereunder any federal, state or local taxes required to be withheld.

     6.13 SURVIVAL.   Notwithstanding anything herein to the contrary, to the
extent applicable, the obligations of the Company (and its Affiliates) under
Sections 3 and 4, and the

                                                                         Page 13
<PAGE>

obligations of Executive under Sections 3 and 5, shall remain operative and in
full force and effect regardless of the expiration of this Agreement.

     6.14 WAIVER.  The failure of either party to insist in any one or more
instances upon performance of any terms or conditions of this Agreement will not
be construed as a waiver of future performance of any such term, covenant, or
condition and the obligations of either party with respect to such term,
covenant or condition will continue in full force and effect.

     THIS AGREEMENT is executed in multiple counterparts as of the dates set
forth below, each of which shall be deemed an original, to be effective as of
the Effective Date designated above.

CLECO CORPORATION                        EXECUTIVE

By:
   -------------------------------       --------------------------------
                                         DARRELL J. DUBROC
Its:
    ------------------------------

Date:                                    Date:
     -----------------------------            ---------------------------

                                                                         Page 14
<PAGE>

                               CLECO CORPORATION
                         EXECUTIVE EMPLOYMENT AGREEMENT

                                   EXHIBIT A

     This Exhibit A is intended to form a part of that certain Executive
Employment Agreement by and between Cleco Corporation and DARRELL J. DUBROC,
first effective as of July 28, 2000.  The parties agree that the proscriptions
set forth in Section 5.3 thereof shall apply in the State of Louisiana, Parishes
of:

     Acadia Parish
     Allen Parish
     Avoyelles Parish
     Beauregard Parish
     Calcasieu Parish
     Catahoula Parish
     Desoto Parish
     Evangeline Parish
     Grant Parish
     Iberia Parish
     Jefferson Davis Parish
     Lafayette Parish
     Lasalle Parish
     Natchitoches Parish
     Rapides Parish
     Red River Parish
     Sabine Parish
     St. Landry Parish
     St. Martin Parish
     St. Mary Parish
     St. Tammany Parish
     Vernon Parish
     Washington Parish

Executive and the Company agree that the Company shall amend this Exhibit A,
from time to time, to eliminate Parishes in which the Company is no longer doing
business and to add Parishes in which the Company is currently doing business.

                                                                         Page 15
<PAGE>

                                                                   EXHIBIT 10(y)

                               CLECO CORPORATION

                         EXECUTIVE EMPLOYMENT AGREEMENT
                                   (LEVEL 1)

     THIS AGREEMENT (the "Agreement") is entered into as of this 28th day of
July, 2000, by and between MARK H. SEGURA ("Executive"), and Cleco Corporation,
a Louisiana corporation (the "Company"), and is intended to amend and restate,
in its entirety, that certain Executive Severance Agreement between Cleco
Utility Group Inc. and Executive, initially effective as of January 1, 1998.

                            1.  EMPLOYMENT AND TERM

     1.1  POSITION.  The Company shall employ and retain Executive as its Senior
Vice President Utility Services or in such other capacity or capacities as shall
be mutually agreed upon, from time to time, by Executive and the Company, and
Executive agrees to be so employed, subject to the terms and conditions set
forth herein. Executive's duties and responsibilities shall be those assigned to
him hereunder, from time to time, by the Chief Executive Officer of the Company
and shall include such duties as are the type and nature normally assigned to
similar executive officers of a corporation of the size, type and stature of the
Company.  Executive shall report to the Chief Executive Officer.

     1.2  CONCURRENT EMPLOYMENT.  During the term of this Agreement, Executive
and the Company acknowledge that Executive may be concurrently employed by the
Company and a subsidiary or other entity with respect to which the Company owns
(within the meaning of Section 425(f) of the Internal Revenue Code of 1986, as
amended (the "Code")) 50% or more of the total combined voting power of all
classes of stock or other equity interests (an "Affiliate"), and that all of the
terms and conditions of this Agreement shall apply to such concurrent
employment.  Reference to the Company hereunder shall be deemed to include any
such concurrent employers.

     1.3  FULL TIME AND ATTENTION.  During the term of this Agreement and any
extensions or renewals thereof, Executive shall devote his full time, attention
and energies to the business of the Company and will not, without the prior
written consent of the Chief Executive Officer of the Company, be engaged
(whether or not during normal business hours) in any other business or
professional activity, whether or not such activities are pursued for gain,
profit or other pecuniary advantage.

     Notwithstanding the foregoing, Executive shall not be prevented from (a)
engaging in any civic or charitable activity for which Executive receives no
compensation or other pecuniary advantage, (b) investing his personal assets in
businesses which do not compete with the Company, provided that such investment
will not require any services on the part of Executive in the operation of the
affairs of the businesses in which investments are made and provided further
that Executive's participation in such businesses is solely that of an investor,
or (c) purchasing
<PAGE>

securities in any corporation whose securities are regularly traded, provided
that such purchases will not result in Executive owning beneficially at any time
5% or more of the equity securities of any corporation engaged in a business
competitive with that of the Company.

     1.4  TERM.  Executive's employment under this Agreement shall commence as
of July 28, 2000 (the "Effective Date"), and shall terminate on July 28, 2003
(such date or the last day of employment specified in any renewal or amendment
hereof referred to herein as the "Termination Date") (the period commencing as
of the Effective Date and ending as of the Termination Date referred to herein
as the "Employment Term").

     Commencing on the second anniversary of the Effective Date and each
anniversary thereafter, Executive's employment shall automatically be extended
for an additional one-year period; provided, however, that either party may
provide written notice to the other that the Employment Term will not be further
extended, such notice to be provided not later than 30 days prior to the end of
the then current Employment Term.

                         2.  COMPENSATION AND BENEFITS

     2.1  BASE COMPENSATION.  The Company shall pay Executive an annual salary
equal to his annual base salary in effect as of the Effective Date, such amount
shall be prorated and paid in equal installments in accordance with the
Company's regular payroll practices and policies and shall be subject to
applicable withholding and other applicable taxes (Executive's "Base
Compensation").  Executive's Base Compensation shall be reviewed no less often
than annually and may be increased or reduced by the Board of Directors of the
Company (the "Board"), in its sole discretion; provided, however, that
Executive's Base Compensation may not be reduced at any time unless such
reduction is part of a reduction in pay uniformly applicable to all officers of
the Company.

     2.2  ANNUAL INCENTIVE BONUS.  In addition to the foregoing, Executive shall
be eligible for participation in the Annual Incentive Compensation Plan or
similar bonus arrangement maintained by the Company or an Affiliate or such
other bonus or incentive plans which the Company or its Affiliates may adopt,
from time to time, for similarly situated executives (an "Incentive Bonus").

     2.3  LONG-TERM INCENTIVES.  In addition to the foregoing, Executive shall
be eligible for participation in the 2000 Long-Term Incentive Compensation Plan
maintained by the Company and such other long-term incentive plans which the
Company or its Affiliates may adopt, from time to time, for similarly situated
executives (a "Long-Term Incentive").

     2.4  SUPPLEMENTAL RETIREMENT BENEFIT.  In addition to the foregoing,
Executive shall be eligible to participate in the Supplemental Executive
Retirement Plan maintained by Cleco Utility Group Inc. or such other
supplemental retirement benefit plans which the Company or its Affiliates may
adopt, from time to time, for similarly situated executives (the "Supplemental
Plan").

                                                                          Page 2
<PAGE>

     2.5  OTHER BENEFITS. During the term of this Agreement and in addition to
the amounts otherwise provided herein, Executive shall participate in such
plans, policies, and programs as may be maintained, from time to time, by the
Company or its Affiliates for the benefit of senior executives or employees,
including, without limitation, profit sharing, life insurance, and group medical
and other welfare benefit plans.  Any such benefits shall be determined in
accordance with the specific terms and conditions of the documents evidencing
any such plans, policies, and programs.

     2.6  REIMBURSEMENT OF EXPENSES.   The Company shall reimburse Executive for
such reasonable and necessary expenses as are incurred in carrying out his
duties hereunder, consistent with the Company's standard policies and annual
budget.  The Company's obligation to reimburse Executive hereunder shall be
contingent upon the presentment by Executive of an itemized accounting of such
expenditures.

                                3.  TERMINATION

     3.1  TERMINATION PAYMENTS TO EXECUTIVE.  As set forth more fully in this
Section 3 and except as provided in Sections 3.3 or 3.8 hereof, Executive shall
be paid the greater of the amounts or benefits set forth below or the amounts or
benefits provided under the terms of the separate plan or arrangement maintained
by the Company (or its Affiliates) on account of termination of employment
hereunder:

     a.   Executive's Base Compensation accrued but not yet paid as of the date
          of his termination.

     b.   Executive's Base Compensation payable until the Termination Date
          (determined without regard to the automatic renewal provisions of
          Section 1.4 hereof), but not less than 100% of such annual Base
          Compensation.

     c.   Executive's Incentive Bonus payable with respect to the year of his
          termination, prorated to reflect Executive's actual period of service
          during such year.

     d.   Executive's Incentive Bonus payable in the target amount for the year
          in which his termination of employment occurs.

     e.   If Executive's principal office is located in Pineville, Louisiana,
          the Company shall, at the written request of Executive:

          i.   Purchase his principal residence if such residence is located
               within 60 miles of the Company's Pineville, Louisiana office (the
               "Principal Residence") for an amount equal to the greater of (1)
               the purchase price of such Principal Residence plus the
               documented cost of any capital improvements to the Principal
               Residence made by Executive, or (2) the fair market value of such
               Principal Residence as determined by the Company's usual
               relocation practice; and

                                                                          Page 3
<PAGE>

          ii.  Pay or reimburse Executive for the cost of relocating Executive,
               his family and their household goods and other personal property,
               in accordance with the Company's usual relocation practice, to
               any location in the United States.

          Notwithstanding the foregoing, the Company shall not be obligated
          hereunder, unless, within 12 months after the termination of his
          employment with the Company (and its Affiliates), the Company is
          requested to purchase such Principal Residence or Executive has
          actually relocated from the Pineville, Louisiana area.

     f.   If Executive and/or his dependents elects to continue group medical
          coverage, within the meaning of Code Section 4980B(f)(2), with respect
          to a group health plan sponsored by the Company or an Affiliate (other
          than a health flexible spending account under a self-insured medical
          reimbursement plan described in Code Sections 125 and 105(h)), the
          Company shall pay the continuation coverage premium for the same type
          and level of group health plan coverage received by Executive and his
          electing dependents immediately prior to such termination of
          Executive's employment for the maximum period provided under Code
          Section 4980B.

     g.   Executive shall be fully vested for purposes of any service or similar
          requirement imposed under the Cleco Utility Group Inc. Supplemental
          Executive Retirement Plan (the "Supplemental Plan"), regardless of the
          actual number of years of service attained by Executive.

Except as expressly provided in Section 3.3 hereof, Executive shall also be
entitled to receive such compensation or benefits as may be provided under the
terms of a separate plan or amendment maintained by the Company (or its
Affiliates) to the extent such compensation or benefits are not duplicative of
the compensation or benefits described above.

     3.2  TERMINATION FOR DEATH OR DISABILITY.  If Executive dies or becomes
disabled during the Employment Term, this Agreement and Executive's employment
hereunder shall immediately terminate and the Company's obligations hereunder
shall automatically cease.  In such event, the Company shall pay to Executive
(or his estate) the amounts described in Sections 3.1a and 3.1c hereof.  Payment
shall be made in the form of one or more single-sums as soon as practicable
after Executive's death or disability or as and when such amounts are
ascertainable.

     For purposes of this Section 3.2, Executive shall be deemed "disabled" if
he or she is actually receiving benefits or is eligible to receive benefits
under the Company's (or an Affiliate's) separate long-term disability plan. The
Board shall determine whether Executive is disabled hereunder.

                                                                          Page 4
<PAGE>

     3.3  COMPANY'S TERMINATION FOR CAUSE.  This Agreement and Executive's
employment hereunder may be terminated by the Company on account of Cause.  In
such event, the Company shall pay to Executive the amount described in Section
3.1a hereof.  Payment shall be made in the form of a single-sum not later than
three days after such termination.  Notwithstanding any provision of this
Agreement or any other plan, policy or agreement evidencing any other
compensation arrangement or benefit payable to Executive, no additional amount
shall be paid to Executive, except as may be required by law.

     For purposes of this Agreement "Cause" means that Executive has:

     a.   Committed an intentional act of fraud, embezzlement or theft in the
          course of his employment or otherwise engaged in any intentional
          misconduct which is materially injurious to the Company's (or an
          Affiliate's) financial condition or business reputation;

     b.   Committed intentional damage to the property of the Company (or an
          Affiliate) or committed intentional wrongful disclosure of
          Confidential Information (as defined in Section 5.2) which is
          materially injurious to the Company's (or an Affiliate's) financial
          condition or business reputation;

     c.   Intentionally refused to perform the material duties of his position;
          or

     d.   A material breach of this Agreement by Executive.

No act or failure to act on the part of Executive will be deemed "intentional"
if it was due primarily to an error in judgment or negligence, but will be
deemed "intentional" only if done or omitted to be done by Executive not in good
faith and without reasonable belief that his action or omission was in the best
interest of the Company (or an Affiliate).

     The Board, acting in good faith, may terminate Executive's employment
hereunder on account of Cause (or may determine that any termination by the
Company is on account of Cause).  The Board shall provide written notice to
Executive, including a description of the specific reasons for the determination
of Cause.  Executive shall have the opportunity to appear before the Board, with
or without legal representation, to present arguments and evidence on his
behalf.  Following such presentation (or upon Executive's failure to appear),
the Board, by an affirmative vote of not less than 66% of its members, shall
confirm that the actions or inactions of Executive constitute Cause hereunder.

     3.4  EXECUTIVE'S CONSTRUCTIVE TERMINATION. Executive may terminate this
Agreement and his employment hereunder on account of a Constructive Termination
upon 30 days prior written notice to the Chief Executive Officer (or such
shorter period as may be agreed upon by the parties hereto.)  In such event, the
Company shall provide to Executive (a) the amount described in Section 3.1a
hereof, payable not later than three days after his termination of employment,
(b) the amounts determined under Sections 3.1b and 3.1d hereof, payable in not
more than two equal installments, one-half not later than 30 days after
termination and the other

                                                                          Page 5
<PAGE>

one-half six months after such termination, and (c) the benefits described in
Sections 3.1e, 3.1f and 3.1g hereof.

     For purposes of this Agreement, "Constructive Termination" means:

     a.   A material reduction (other than a reduction in pay uniformly
          applicable to all officers of the Company) in the amount of
          Executive's Base Compensation;

     b.   A material reduction in Executive's authority, duties or
          responsibilities from those contemplated in Section 1.1 of this
          Agreement; or

     c.   A material breach of this Agreement by the Company or its Affiliates.

No event or condition described in this Section 3.4 shall constitute a
Constructive Termination unless (a) Executive promptly gives the Company notice
of his objection to such event or condition, which notice may be provided orally
or in writing to the Chief Executive Officer or his designee, (b) such event or
condition is not corrected by the Company promptly after receipt of such notice,
but in no event more than 30 days after receipt of notice, and (c) Executive
resigns his employment with the Company (and all Affiliates) not more than 15
days following the expiration of the 30-day period described in subparagraph (b)
hereof.

     3.5  TERMINATION BY THE COMPANY, WITHOUT CAUSE.  The Company may terminate
this Agreement and Executive's employment hereunder, without Cause, upon 30 days
prior written notice to Executive (or such shorter period as may be agreed upon
by Executive and the Chief Executive officer).  In such event, the Company shall
provide to Executive (a) the amount described in Section 3.1a hereof, payable
not later than three days after such termination, (b) the amounts determined
under Sections 3.1b and 3.1d hereof, payable in not more than two equal
installments, one-half not later than 30 days after termination and the other
one-half six months after such termination, and (c) the benefits described in
Sections 3.1e, 3.1f and 3.1g hereof.

     3.6  TERMINATION BY EXECUTIVE.  Executive may terminate this Agreement and
his employment hereunder, other than on account of Constructive Termination,
upon 30 days prior written notice to the Company or such shorter period as may
be agreed upon by the Chief Executive Officer and Executive.  In such event, the
Company shall pay to Executive the amount described in Section 3.1a hereof.
Payment shall be made in the form of a single-sum not later than three days
after such termination.  No additional payments or benefits shall be due
hereunder, except as may be provided under a separate plan, policy or program
evidencing such compensation arrangement or benefit or as may be required by
law.

     3.7  RETURN OF PROPERTY.  Upon termination of this Agreement for any
reason, Executive shall promptly return to the Company all of the property of
the Company (and its Affiliates), including, without limitation, automobiles,
equipment, computers, fax machines, portable telephones, printers, software,
credit cards, manuals, customer lists, financial data, letters, notes,
notebooks, reports and copies of any of the above and any Confidential

                                                                          Page 6
<PAGE>

Information (as defined in Section 5.2 hereof) that is in the possession or
under the control of Executive.

     3.8  CONSIDERATION FOR OTHER AGREEMENTS.  Executive acknowledges that all
or a portion of the amount payable under Section 3.1d hereof is in excess of the
amount otherwise due or payable under the Annual Incentive Compensation Plan and
that the payment of such excess amount shall constitute adequate consideration
for the execution of such separate waivers or releases as the Company (or
Affiliate) may request Executive to execute in connection with the termination
of his employment hereunder.  Executive agrees that failure to execute any such
waiver or release within the time request by the Company shall result in the
forfeiture of the excess amount payable under Section 3.1d hereof.

                 4.  CHANGE IN CONTROL AND BUSINESS TRANSACTION

     4.1  DEFINITIONS.  The terms "Change in Control" and "Business Transaction"
shall have the meanings ascribed to them in the Cleco Corporation 2000 Long-Term
Incentive Compensation Plan, as the same may be amended from time to time.

     The term "Good Reason," when used herein, shall mean that in connection
with a Change in Control:

     a.   Executive's Base Compensation in effect immediately before such Change
          in Control is reduced or there is a significant reduction or
          termination of Executive's rights to any employee benefit in effect
          immediately prior to the Change in Control;

     b.   Executive's authority, duties or responsibilities are significantly
          reduced from those contemplated in Section 1.1 hereof or Executive has
          reasonably determined that, as a result of a change in circumstances
          that significantly affects his employment with the Company (or an
          Affiliate), he or she is unable to exercise the authority, power,
          duties and responsibilities contemplated in Section 1.1 hereof;

     c.   Executive is required to be away from his office in the course of
          discharging his duties and responsibilities under this Agreement
          significantly more than was required prior to the Change in Control;
          or

     d.   Executive is required to transfer to an office or business location
          located more than 60 miles from the location to which he or she was
          assigned prior to the Change in Control.

No event or condition described in this Section 4.1 shall constitute Good Reason
unless (a) Executive gives the Company notice of his objection to such event or
condition within a reasonable period after Executive learns of such event, which
notice may be delivered orally or in writing to the Chief Executive Officer (or
his designee), (b) such event or condition is not promptly corrected by the
Company, but in no event later than 30 days after receipt of such

                                                                          Page 7
<PAGE>

notice, and (c) Executive resigns his employment with the Company (and its
Affiliates) not more than 60 days following the expiration of the 30-day period
described in subparagraph (b) hereof.

     4.2  TERMINATION IN CONNECTION WITH A CHANGE IN CONTROL.  If Executive's
employment described herein is terminated by the Company, without Cause (as
defined in Section 3.3 hereof), or Executive terminates his employment hereunder
for Good Reason at any time within the 60-day period preceding or 36-month
period following such Change in Control, then notwithstanding any provision of
this Agreement to the contrary and in lieu of any compensation or benefits
otherwise payable hereunder:

     a.   The Company shall pay to Executive the amount described in Section
          3.1a in the form of a single-sum not later than three days after such
          termination.

     b.   The Company shall pay to Executive the amount described in Section
          3.1d in the form of a single-sum not later than 30 days after such
          termination.

     c.   The Company shall pay an amount equal to three times Executive's "base
          amount" as determined under Code Section 280G, payable in the form of
          a single-sum not later than 30 days after such termination.

     d.   The Company shall provide to Executive and his dependents coverage
          under the Company's or an Affiliate's group medical plan for the same
          type and level of health benefits received by Executive and his
          dependents immediately prior to such termination for a period of three
          years or until Executive and/or his dependents obtain coverage under a
          reasonably satisfactory group health plan with no applicable
          preexisting condition limitation, whichever comes first; such coverage
          to be in addition to any coverage available to Executive and his
          dependents under Code Section 4980B.

     e.   Vesting shall be accelerated, any restrictions shall lapse, and all
          performance objectives shall be deemed satisfied as to any outstanding
          grants or awards made to Executive under the 2000 Long-Term Incentive
          Compensation Plan and/or the 1990 Long-Term Incentive Compensation
          Plan.  Executive shall be entitled to such additional benefits or
          rights as may be provided in the documents evidencing such plans or
          the terms of any agreement evidencing such grant or award.

     f.   Executive shall be fully vested for purposes of any service or similar
          requirement imposed under the Supplemental Plan, regardless of the
          actual number of years of service attained by Executive.  Executive
          shall be credited with an additional three years of age for purposes
          of determining his benefit percentage under the Supplemental Plan, but
          in no event shall such benefit percentage be less than 50%; and
          Executive shall be credited with an additional three years of age for
          purposes of determining any reduction taken with respect to benefits
          commencing before Executive's normal retirement date (as defined in
          such plan).

                                                                          Page 8
<PAGE>

     g.   If Executive's principal office is located in Pineville, Louisiana,
          the Company shall, at the written request of Executive:

          i.   Purchase his principal residence if such residence is located
               within 60 miles of the Company's Pineville, Louisiana office (the
               "Principal Residence") for an amount equal to the greater of (1)
               the purchase price of such Principal Residence plus the
               documented cost of any capital improvements to the Principal
               Residence made by Executive, or (2) the fair market value of such
               Principal Residence as determined by the Company's usual
               relocation practice; and

          ii.  Pay or reimburse Executive for the cost of relocating Executive,
               his family and their household goods and other personal property,
               in accordance with the Company's usual relocation practice, to
               any location in the United States.

          Notwithstanding the foregoing, the Company shall not be obligated
          hereunder, unless, within 12 months after the termination of his
          employment with the Company (and its Affiliates), the Company is
          requested to purchase such Principal Residence or Executive has
          actually relocated from the Pineville, Louisiana area.

     h.   The Company shall pay to Executive an amount equal to the Company's
          (including all Affiliates) maximum matching contribution obligation
          under the Cleco Corporation 401(k) Savings and Investment Plan, as the
          same may be amended from time to time, for each of the three years
          immediately following Executive's termination of employment,
          determined as if Executive was credited with at least 1,000 hours of
          service in each such plan year, was employed as of the last day of
          each plan year, and contributed the maximum permissible amount under
          Code Section 402(g) in each such year, but determined using the amount
          in effect as of the date of Executive's termination of employment;
          such amount shall be paid in the form of a single-sum not later than
          30 days after Executive's termination of employment hereunder.

     4.3  BUSINESS TRANSACTION. If Executive's employment hereunder is
terminated (other than on account of Cause as defined in Section 3.3 hereof) in
connection with a Business Transaction, then notwithstanding any provision of
this Agreement to the contrary, the Company shall pay or provide to Executive
(a) the amount described in Section 3.1a hereof, payable not later than three
days after his termination of employment, (b) the amounts determined under
Sections 3.1b and 3.1d hereof, payable in not more than two equal installments,
one-half not later than 30 days after termination and the other one-half six
months after such termination, and (c) the benefits described in Sections 3.1e
and 3.1f and 4.2e and 4.2f hereof.

                                                                          Page 9
<PAGE>

     4.4  TAX PAYMENT. If any payment to Executive pursuant to this Agreement or
any other payment or benefit from the Company or an Affiliate in connection with
a Change in Control or Business Transaction is subject to the excise tax imposed
under Code Section 4999 or any similar excise or penalty tax payable under any
United States federal, state, local or other law, the Company shall pay an
amount to Executive such that, after the payment by Executive of all taxes on
such amount, there remains a balance sufficient to pay such excise or penalty
tax. Executive shall submit to the Company the amount to be paid under this
Section 4.4, together with supporting documentation. If Executive and the
Company disagree as to such amount, an independent public accounting firm agreed
upon by Executive and the Company shall make such determination.

                         5.  LIMITATIONS ON ACTIVITIES

  5.1.  CONSIDERATION FOR LIMITATION ON ACTIVITIES.  Executive acknowledges that
the execution of this Agreement and the payments described herein constitute
consideration for the limitations on activities set forth in this Section 5, the
adequacy of which is hereby expressly acknowledged by Executive.

  5.2  CONFIDENTIAL INFORMATION.  Executive recognizes and acknowledges that
during the terms of his employment, he will have access to confidential,
proprietary, non-public information concerning the Company and its Affiliates,
which may include, without limitation, (a) books and records relating to
operations, finance, accounting, personnel and management, (b) price, rate and
volume data, future price and rate plans, and test data, (c) information related
to product design and development, (d) computer software, customer lists,
information obtained on competitors, and sales tactics, and (e) various other
non-public trade or business information, including business opportunities,
marketing or business diversification plans, methods and processes, and
financial data and the like (collectively, the "Confidential Information").
Executive agrees that he or she will not at any time, either while employed by
the Company or afterwards, make any independent use of, or disclose to any other
person or organization (except as authorized by the Company or pursuant to court
order) any of the Confidential Information.

  5.3  NON-SOLICITATION.  Executive agrees that during the one-year period
commencing as of the date of voluntary termination by Executive (as described in
Section 3.6 hereof) or the involuntary termination of Executive on account of
Cause (as described in Section 3.3 hereof), he or she shall not, directly or
indirectly, for his own benefit or on behalf of another or to the Company's (or
an Affiliate's) detriment:

     a.   Hire or offer to hire any of the Company's (or Affiliate's) officers,
          employees or agents;

     b.   Persuade or attempt to persuade in any manner any officer, employee or
          agent of the Company (or an Affiliate) to discontinue any relationship
          with the Company; or

                                                                         Page 10
<PAGE>

     c.   Solicit or divert or attempt to divert any customer or supplier of the
          Company or an Affiliate.

The provisions of this Section 5.3 shall apply in the locations set forth on
Exhibit A hereto, as the same may be amended from time to time.  Executive
acknowledges that the Company (or its Affiliates) is presently doing business in
such locations and that during the Employment Term Executive will be required to
provide services to or for the benefit of the Company (or its Affiliates) in
such locations.

     The parties agree that each of the foregoing prohibitions is intended to
constitute a separate restriction. Accordingly, should any such prohibition be
declared invalid or unenforceable, such prohibition shall be deemed severable
from and shall not affect the remainder thereof.  The parties further agree that
each of the foregoing restrictions is reasonable in both time and geographic
scope.

     5.4  BUSINESS REPUTATION.  Executive agrees that during his employment with
the Company (and its Affiliate) and at all times thereafter, he shall refrain
from performing any act, engaging in any conduct or course of action or making
or publishing an adverse, untrue or misleading statement which has or may
reasonably have the effect of demeaning the name or business reputation of the
Company or its Affiliates or which adversely affects (or may reasonably
adversely affect) the best interests (economic or otherwise) of the Company or
an Affiliate.

     5.5  REMEDIES.  In the event of a breach or threatened breach by Executive
of the provisions of Sections 5.2, 5.3 or 5.4 hereof, Executive agrees that the
Company shall be entitled to a temporary restraining order or a preliminary
injunction (without the necessity of posting bond in connection therewith) and
that any additional payments or benefits due to Executive or his dependents
under Sections 3 and 4 hereof shall be canceled and forfeited.  Nothing herein
shall be construed as prohibiting the Company from pursuing any other remedy
available to it for such breach or threatened breach, including the recovery of
damages from Executive.

                               6.  MISCELLANEOUS

     6.1  MITIGATION NOT REQUIRED.  As a condition of any payment hereunder,
Executive shall not be required to mitigate the amount of such payment by
seeking other employment or otherwise, nor will any profits, income, earnings or
other benefits from any source whatsoever create any mitigation, offset,
reduction or any other obligation on the part of Executive under this Agreement.

     6.2  ENFORCEMENT OF THIS AGREEMENT.  In the event any dispute in connection
with this Agreement arises with respect to obligations of Executive or the
Company that were required prior to the occurrence of a Change in Control or a
Business Transaction, all costs, fees and expenses, including attorney fees, of
any litigation, arbitration or other legal action in connection with such
matters in which Executive substantially prevails, shall be borne by, and be the
obligation of, the Company.

                                                                         Page 11
<PAGE>

     After a Change in Control or Business Transaction has occurred, Executive
shall not be required to incur legal fees and the related expenses associated
with the interpretation, enforcement or defense of Executive's rights under this
Agreement by litigation or otherwise.  Accordingly, if, following a Change in
Control or Business Transaction, the Company has failed to comply with any of
its obligations under this Agreement or the Company or any other person takes or
threatens to take any action to declare this Agreement void or unenforceable or
in any way reduce the possibility of collecting the amounts due hereunder, or
institutes any litigation or other action or proceeding designed to deny or to
recover from Executive the benefits provided or intended to be provided under
this Agreement, Executive shall be entitled to retain counsel of Executive's
choice, at the expense of the Company, to advise and represent Executive in
connection with any such interpretation, enforcement or defense, including
without limitation the initiation or defense of any litigation, arbitration or
other legal action, whether by or against the Company or any director, officer,
stockholder or other person affiliated with the Company, in any jurisdiction.
The Company shall pay and be solely financially responsible for any and all
attorneys' and related fees and expenses incurred by Executive in connection
with any of the foregoing, without regard to whether Executive prevails, in
whole or in part.

     In no event shall Executive be required to reimburse the Company for any of
the costs and expenses incurred by the Company relating to arbitration,
litigation or other legal action in connection with this Agreement.

     6.3  NO SET-OFF.   There shall be no right of set-off or counterclaim in
respect of any claim, debt or obligation against any payment to Executive
provided for in this Agreement.

     6.4  ASSISTANCE WITH LITIGATION.  For a period of one year after the end of
the last period for which Executive will have received any compensation under
this Agreement, Executive will furnish such information and proper assistance as
may be reasonably necessary in connection with any litigation in which the
Company (or an Affiliate) is then or may become involved.

     6.5  HEADINGS.  Section and other headings contained in this Agreement are
for reference purposes only and shall not affect in any way the meaning or
interpretation of this Agreement.

     6.6  ENTIRE AGREEMENT.  This Agreement constitutes the entire understanding
and agreement among the parties hereto with respect to the subject matter
hereof, and there are no other agreements, understandings, restrictions,
representations or warranties among the parties other than those set forth
herein.

     6.7  AMENDMENTS.  This Agreement may be amended or modified at any time in
any or all respects, but only by an instrument in writing executed by the
parties hereto.

     6.8  CHOICE OF LAW.  The validity of this Agreement, the construction of
its terms, and the determination of the rights and duties of the parties hereto
shall be governed by and

                                                                         Page 12
<PAGE>

construed in accordance with the internal laws of the State of Louisiana
applicable to contracts made to be performed wholly within such state.

     6.9  NOTICES.  All notices and other communications under this Agreement
must be in writing and will be deemed to have been duly given when (a) delivered
by hand, (b) sent by telecopier to a telecopier number given below, provided
that a copy is sent by a nationally recognized overnight delivery service
(receipt requested), or (c) when received by the addressee, if sent by a
nationally recognized overnight delivery service (receipt requested), in each
case as follows:

          If to Executive:      Mark H. Segura
                                91 Foxfire Lane
                                Alexandria, Louisiana 71302

          If to the Company:    Cleco Corporation
                                2030 Donahue Ferry Road
                                Pineville, LA 71360
                                Attention: Chief Executive Officer
                                Telecopier:   (318) 484-7777

or to such other addresses as a party may designate by notice to the other
party.

     6.10 ASSIGNMENT.  This Agreement will inure to the benefit of and be
binding upon the Company, its Affiliates, successors and assigns, including,
without limitation, any person, partnership, company, corporation or other
entity that may acquire substantially all of the Company's assets or business or
with or into which the Company may be liquidated, consolidated, merged or
otherwise combined, and will inure to the benefit of and be binding upon
Executive, his heirs, estate, legatees and legal representatives.  If payments
become payable to Executive's surviving spouse or other assigns and such person
thereafter dies, such payment will revert to Executive's estate.

     6.11 SEVERABILITY.  Each provision of this Agreement is intended to be
severable.  In the event that any one or more of the provisions contained in
this Agreement shall for any reason be held to be invalid, illegal or
unenforceable, the same shall not affect the validity or enforceability of any
other provision of this Agreement, but this Agreement shall be construed as if
such invalid, illegal or unenforceable provisions was not contained herein.
Notwithstanding the foregoing, however, no provision shall be severed if it is
clearly apparent under the circumstances that the parties would not have entered
into this Agreement without such provision.

     6.12 WITHHOLDING.  The Company (or an Affiliate) may withhold from any
payment hereunder any federal, state or local taxes required to be withheld.

     6.13 SURVIVAL.   Notwithstanding anything herein to the contrary, to the
extent applicable, the obligations of the Company (and its Affiliates) under
Sections 3 and 4, and the

                                                                         Page 13
<PAGE>

obligations of Executive under Sections 3 and 5, shall remain operative and in
full force and effect regardless of the expiration of this Agreement.

     6.14 WAIVER.  The failure of either party to insist in any one or more
instances upon performance of any terms or conditions of this Agreement will not
be construed as a waiver of future performance of any such term, covenant, or
condition and the obligations of either party with respect to such term,
covenant or condition will continue in full force and effect.

     THIS AGREEMENT is executed in multiple counterparts as of the dates set
forth below, each of which shall be deemed an original, to be effective as of
the Effective Date designated above.

CLECO CORPORATION                        EXECUTIVE

By:
   -------------------------------       --------------------------------
                                         MARK H. SEGURA
Its:
    ------------------------------

Date:                                    Date:
     -----------------------------            ---------------------------

                                                                         Page 14
<PAGE>

                               CLECO CORPORATION
                         EXECUTIVE EMPLOYMENT AGREEMENT

                                   EXHIBIT A

     This Exhibit A is intended to form a part of that certain Executive
Employment Agreement by and between Cleco Corporation and MARK H. SEGURA, first
effective as of July 28,  2000.  The parties agree that the proscriptions set
forth in Section 5.3 thereof shall apply in the State of Louisiana, Parishes of:

     Acadia Parish
     Allen Parish
     Avoyelles Parish
     Beauregard Parish
     Calcasieu Parish
     Catahoula Parish
     Desoto Parish
     Evangeline Parish
     Grant Parish
     Iberia Parish
     Jefferson Davis Parish
     Lafayette Parish
     Lasalle Parish
     Natchitoches Parish
     Rapides Parish
     Red River Parish
     Sabine Parish
     St. Landry Parish
     St. Martin Parish
     St. Mary Parish
     St. Tammany Parish
     Vernon Parish
     Washington Parish

Executive and the Company agree that the Company shall amend this Exhibit A,
from time to time, to eliminate Parishes in which the Company is no longer doing
business and to add Parishes in which the Company is currently doing business.

                                                                         Page 15

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