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                                                                   Exhibit 10(o)

                              THE HERTZ CORPORATION
                     SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN

The Hertz Corporation, with its principal office at 225 Brae Boulevard, Park
Ridge, New Jersey, by action of the Compensation Committee of its Board of
Directors, adopted, effective January 1, 1999 a Supplemental Executive
Retirement Plan (the "Plan") to provide a select group of key executives and
highly compensated employees a program supplementing benefits payable to them
under The Hertz Corporation Account Balance Defined Benefit Pension Plan (the
"Retirement Plan") and other non-qualified benefit plans.

ARTICLE 1 - DEFINITIONS

Capitalized words and phrases used herein, but which are not defined herein,
shall have the same meaning ascribed to them in the Retirement Plan. In
addition, the following definitions shall apply for purposes of this Plan:

1.1   Actuarial Equivalent  - Shall mean a benefit or amount that replaces
                              another and has the same value as the benefit or
                              amount it replaces, based on actuarial assumptions
                              set forth in Schedule C of the Retirement Plan.

1.2   Affiliated Company    - Shall mean (i) the Company, (ii) a member of a
                              controlled group of corporations of which an
                              Employer is a member, (iii) an unincorporated
                              trade or business which is under common control
                              with an Employer as determined in accordance with
                              Section 414 (c) of the Internal Revenue Code, (iv)
                              a member of an affiliated service group


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                              with any Employer as defined in Section 414 (m) of
                              the Internal Revenue Code or (v) any other entity
                              that must be aggregated with an Employer under
                              Section 414 (o) (and Income Tax Regulations
                              thereunder) of the Internal Revenue Code. A
                              corporation or an unincorporated trade or business
                              shall not be considered an Affiliated Company for
                              any period while it does not satisfy clause (i),
                              (ii), (iii), (iv) or (v) of this definition. For
                              purposes of this definition, a "controlled group
                              of corporations" is a controlled group of
                              corporations as defined in Section 1563(a) of the
                              Internal Revenue Code (determined without regard
                              to Sections 1563(a)(4) and (e)(3)(c) of the
                              Internal Revenue Code).

1.3   Beneficiary           - Shall mean the person so designated to receive
                              distributions upon or after the death of a
                              Participant under the terms set forth in the
                              Retirement Plan.

1.4   BEP                   - Shall mean The Hertz Corporation Benefit
                              Equalization Plan adopted by the Company effective
                              January 1, 1996, as amended from time to time.

1.5   Board                 - Shall mean the Board of Directors of the Company.

1.6   Committee             - Shall mean the Pension and Welfare Plans
                              Administration Committee appointed by the Board.

1.7   Company               - Shall mean The Hertz Corporation.

1.8   Compensation
      Committee             - Shall mean the Compensation Committee of the
                              Board.


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1.9   Employee              - Shall mean any person employed by an Affiliated
                              Company.

1.10  Final Average
      Earnings              - Shall mean the Participant's average annual
                              compensation for the five (5) consecutive Plan
                              Years while a Member of the Retirement Plan, in
                              which he received the greatest amount of annual
                              compensation within the ten most recent Plan
                              Years. Compensation for this purpose is determined
                              in accordance with the Retirement Plan but without
                              regard to Section 401(a) (17) of the Internal
                              Revenue Code.

1.11  Normal
      Retirement Date       - Shall mean the first day of the month coincident
                              with or next following a Participant's 65th
                              birthday.

1.12  Participant           - Shall mean an Employee who meets the participation
                              requirements of Article 2.

1.13  Plan Year             - Shall mean the calendar year.

1.14  Prior Plan            - Shall mean the Retirement Plan for the Employees
                              of the RCA Corporation and Subsidiary Companies as
                              in effect on August 30, 1985.

1.15  Retirement Plan       - Shall mean the Retirement Plan for the Employees
                              of The Hertz Corporation (renamed and amended
                              effective as of January 1, 1987 as The Hertz
                              Corporation Account Balance Defined Benefit
                              Pension Plan), as amended from time to time.

1.18  Supplemental
      Benefit               - Shall mean the benefit payable to a Participant or
                              his Beneficiary pursuant to this Plan.


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1.19  Years of Benefit
      Service               - Shall mean the sum of the Years of Credited
                              Service accrued under the Retirement Plan through
                              June 30, 1987 and the years and months of service
                              while an active Member of the Retirement Plan
                              after June 30, 1987, where a period of twelve (12)
                              calendar months of service (which need not be
                              consecutive) shall be considered a Year of Benefit
                              Service and a period of less than twelve (12)
                              calendar months shall be credited as a partial
                              Year of Benefit Service equal to a fraction, the
                              numerator of which is the number of such months of
                              service, and the denominator of which is twelve
                              (12). A Participant will be credited with a month
                              of service for each calendar month in which he is
                              credited with an Hour of Service under the
                              Retirement Plan.

ARTICLE 2 - PARTICIPATION IN THE PLAN

2.1   An Employee shall become eligible for participation in this Plan if the
      employee is designated as so eligible by the Company's Senior Vice
      President, Employee Relations, in his sole and absolute discretion. An
      eligible Employee shall become a Participant in the Plan upon the
      designation of the Company's Chief Executive Officer, in his sole and
      absolute discretion.

2.2   If a Participant's job responsibilities are altered, the Company's Chief
      Executive Officer, in his sole and absolute discretion, shall determine
      whether the Participant shall continue to accrue benefits under this Plan
      after the date of such change of responsibility.

ARTICLE 3 - VESTING

Notwithstanding any provision of this Plan to the contrary, the Supplemental
Benefit payable


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pursuant to Article 4 hereof shall be payable by the Company only with respect
to a Participant who has been credited with at least five (5) Vesting Years of
Service under the Retirement Plan and whose employment terminates with an
Affiliated Company due to death, disability or otherwise terminates employment
on or after his attainment of age fifty-five (55).

ARTICLE 4 - SUPPLEMENTAL BENEFITS

4.1   A Participant's Supplemental Benefit shall be equal to the excess, if any,
      of (a) minus (b), plus (c) where:

            (a)   is the annual benefit payable at Normal Retirement Date (or
                  Retirement) based on the following formula:

                        $192.00 plus 1.6% of Final Average Earnings over
                        $15,660 multiplied by Years of Benefit Service;

                  (1)   A Participant who terminates from employment prior to
                        his Normal Retirement Date and elects to defer benefit
                        commencement under the Retirement Plan, shall have the
                        benefit computed in this subsection 4.1 (a) reduced by
                        1/3 of 1% for each month that the distribution precedes
                        his Normal Retirement Date; and

                        A Participant who terminates from employment prior to
                        his Normal Retirement Date and elects to commence
                        benefits immediately under the Retirement Plan, shall
                        have the benefit computed in the subsection 4.1 (a)
                        reduced in accordance with the following schedule:

<TABLE>
<CAPTION>
                              Age at Retirement      % Reduction
                              -----------------      -----------
                                     <S>                  <C>
                                     60 or over            0%
                                     59                   13%
                                     58                   20%
                                     57                   27%
                                     56                   34%
                                     55                   40%
</TABLE>


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                  (2)   The benefit in this subsection 4.1(a) is computed
                        without regard to the limitations of Section 415 of the
                        Internal Revenue Code.

            (b)   is the aggregate benefit (other than the Supplemental Early
                  Retirement Benefit or Optional Supplemental Early Retirement
                  Benefit) the Participant is actually entitled to receive under
                  the Retirement Plan, the Prior Plan, any other defined benefit
                  plan qualified under Section 401(a) of the Internal Revenue
                  Code and maintained by an Affiliated Company (including the
                  portion of the benefit attributable to service before the
                  Affiliated Company became such) and any non-qualified defined
                  benefit plan maintained by an Affiliated Company (including,
                  but not limited to, the BEP).

      For purposes of this Section 4.1, if any of the benefits described in
      paragraphs (a) and (b) are not in the form of an annuity for the life of
      the Participant with a five (5) year period certain feature, the benefit
      shall be converted to the Actuarial Equivalent of that form.

            (c)   is (1) or (2) minus (3) where;

                  (1)   is a supplemental early retirement benefit determined as
                        follows: A Participant who terminates employment after
                        age 60 but before age 65, has at least 15 Years of
                        Service, elects immediate commencement of benefits and
                        does not elect to receive the optional supplemental
                        early retirement benefit (as stated below) is entitled
                        to receive a supplemental early retirement benefit
                        payable monthly beginning on the day benefit
                        distribution commences and ending on the last day of the
                        month beginning after the month in which he attains age
                        65 (or, if earlier, dies). The amount of the monthly
                        supplemental early retirement benefit depends on the
                        number of Years of Service as follows:


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<TABLE>
<CAPTION>
                                                          Supplemental Early
                              Years of Service            Retirement Benefit
                              ----------------            ------------------
                            <S>                                  <C>
                            15 but less than 20                  $55
                            20 but less than 25                  $60
                            25 but less than 30                  $65
                            30 but less than 35                  $70
                            35 or more                           $75
</TABLE>

                  (2)   is the optional supplemental early retirement benefit
                        determined as follows: A Participant who terminates
                        employment after age 60 but before age 62, elects
                        immediate commencement of benefits, has at least 10
                        Years of Service and does not elect the supplemental
                        early retirement benefit (stated above), is entitled to
                        receive the optional supplemental early retirement
                        benefit payable monthly beginning on the day benefit
                        distribution commences and ending on the last day of the
                        month in which he attains age 62 (or, if earlier, dies.)
                        The amount of the monthly optional supplemental early
                        retirement benefit depends on the number of Years of
                        Service as follows:

<TABLE>
<CAPTION>
                                                      Optional Supplemental
                              Years of Service      Early Retirement Benefit
                              ----------------      ------------------------
                            <S>                               <C>
                            10 but less than 15               $100
                            15 but less than 20               $140
                            20 but less than 25               $180
                            25 but less than 30               $220
                            30 or more                        $260
</TABLE>

                        "Years of Service" for purposes of this Section 4.1
                        (c)(1) and (2) means, with respect to a Participant who
                        became a Member of the Retirement Plan prior to July 1,
                        1987, "Years of Credited Service" as defined in Section
                        B.6 (e) of the Retirement Plan. With respect to a
                        Participant who became a Member of the Retirement Plan
                        on or after July, 1, 1987, "Years of Service" means
                        "Vesting Years of Service" as defined in Section 1.50 of
                        the Retirement Plan.


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                  (3)   is the Supplemental Early Retirement Benefit or the
                        Optional Supplemental Early Retirement Benefit the
                        Participant is entitled to receive under the Retirement
                        Plan.

4.2   Subject to Section 4.3, Supplemental Benefits shall be payable at the same
      time and under the same terms and conditions (including the designation of
      any Beneficiary upon death) as benefits are payable under the Retirement
      Plan and shall commence as of the Participant's Annuity Starting Date.
      Notwithstanding the foregoing, any preretirement death benefit shall be
      payable consistent with the terms and conditions of Schedule F of the
      Retirement Plan (including benefits accrued after June 30, 1987), provided
      that a Beneficiary may receive the Actuarial Equivalent thereof.

4.3   The Participant shall make a separate election as to the form of payment
      of Supplemental Benefits among such forms which are available under the
      Retirement Plan. Such election shall be made in accordance with such rules
      and procedures as established by the Committee; provided, however, that
      unless such election is made prior to the last day of the calendar year
      which is at least 12 months prior to the Participant's Annuity Starting
      Date, the Participant's Supplemental Benefit under this Plan shall
      automatically be paid in the form of a annuity distribution as soon as
      practicable after such Annuity Starting Date.

ARTICLE 5 - ADMINISTRATION

The Plan shall be administered and interpreted by the Committee. The Committee
is authorized from time to time to establish such rules and regulations as it
may deem appropriate for the proper administration of the Plan, and to make such
determinations under, and such interpretations of, and to take such steps in
connection with, the Plan as it may deem necessary or advisable. Each
determination, interpretation, or other action by the Committee shall be in its
sole discretion and shall be final, binding and conclusive for all purposes and
upon all persons.


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ARTICLE 6 - FUNDING

The benefits payable under this Plan shall constitute an unfunded obligation and
an unsecured promise of the Company. The Plan constitutes a mere promise by the
Company to make Supplemental Benefit payments in the future. Payments shall be
made, when due, from the general funds of the Company. Anything in this Article
6 to the contrary notwithstanding, the Company may establish a grant or trust
(or other investment or holding vehicle) to assist it in meeting its obligations
under the Plan and may provide for such investments in connection therewith,
including the purchase of insurance or annuity contracts, as it may deem
desirable; provided that any such investments shall be subject to the claims of
the Company's general creditors. No person eligible for a benefit under this
Plan shall have any right, title, or interest in any assets held to assist the
Company to pay Supplemental Benefits.

ARTICLE 7 - CLAIMS PROCEDURE

7.1   A claim for benefits under the Plan shall be made in writing to the
      Committee. If such claim for benefits is wholly or partially denied by the
      Committee, the Committee shall, within a reasonable period of time, but
      not later than sixty (60) days after receipt of the claim, notify the
      claimant of the denial of the claim. Such notice of denial shall be in
      writing and shall contain:

            (a)   the specific reason or reasons for denial of the claim:

            (b)   a reference to the relevant Plan provisions upon which the
                  denial is based;

            (c)   a description of any additional material or information
                  necessary for the claimant to perfect the claim, together with
                  an explanation of why such material or information is
                  necessary; and


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            (d)   a explanation of the Plan's claim review procedure. If no such
                  notice is provided, the claim shall be deemed denied.

7.2   Upon the receipt by the claimant of written notice of denial of the claim
      or in the event of a deemed denial, the claimant may within thirty (30)
      days file a written request to the Committee, requesting review of the
      denial of the claim, which review shall include a hearing if deemed
      necessary by the Committee. In connection with the claimant's appeal of
      the denial of his claim, he may review relevant documents and may submit
      issues and comments in writing. The Committee shall render a decision on
      the claim review promptly, but no more than thirty (30) days after the
      receipt of the claimant's request for review, unless special circumstances
      (such as the need to hold a hearing) require an extension of time, in
      which case the thirty (30) day period shall be extended to sixty (60)
      days. Such decision shall:

            (a)   include specific reasons for the decision;

            (b)   be written in a manner calculated to be understood by the
                  claimant, and

            (c)   contain specific references to the relevant Plan provisions
                  upon both which the decision is based.

      The decision of the Committee shall be final and binding in all respects
      upon both the Committee and the claimant.

ARTICLE 8 - AMENDMENT AND TERMINATION

8.1   While the Company currently intends to maintain this Plan in conjunction
      with the Retirement Plan for so long as is desirable, the Company reserves
      the right to amend or to terminate this Plan by action of its Compensation
      Committee, in its sole discretion, for whatever reason it may deem
      appropriate. No amendment to the Plan, however, shall reduce the
      Supplemental Benefits accrued as of the effective date of such amendment.


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8.2   In the event the Company terminates the Plan, a Participant's Supplemental
      Benefit shall be the amount determined under Section 4.1 as of the date of
      such termination.

ARTICLE 9 - GENERAL PROVISIONS

9.1   Except as may be required by law, no benefit payable under the Plan is
      subject in any manner to anticipation, assignment, garnishment, or pledge;
      and any attempt to anticipate, assign, garnish or pledge the same shall be
      void. No such benefits will in any manner be liable for or subject to the
      debts, liabilities, engagement, or torts of any Participant or other
      person entitled to receive the same, and if such person is adjudicated
      bankrupt or attempts to anticipate, assign, or pledge any such benefits,
      the Committee shall have the authority to cause the same or any part
      thereof to be held or applied to or for the benefit of such Participant,
      his spouse, children or other dependents, or any of them, in such manner
      and in such proportion as the Committee may deem proper.

9.2   To the extent permitted by law, the Company shall indemnify the members of
      the Committee from all claims for liability, loss or damage (including
      payment of expenses in connection the defense against such claim) arising
      from any act or failure to act under the Plan, provided any such member
      shall give the Company an opportunity, at its own expense, to handle and
      defend such claims. The provisions of this Section 9.2 shall survive the
      termination of the Plan.

9.3   If a Participant or Beneficiary entitled to receive any Supplemental
      Benefits is a minor or is deemed by the Committee or is adjudged to be
      legally incapable of giving valid receipt and discharge for such benefits,
      payment of Supplemental Benefits will be made to the duly appointed legal
      guardian or representative of such minor or incompetent or to such other
      legally appointed person as the Committee may designate. Such payment
      shall, to the extent made, be deemed a complete discharge of any liability
      for such payment under the Plan.


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9.4   The Company shall have the right to deduct from any Supplemental Benefit
      payments any taxes required to be withheld with respect to such payments.

9.5   Nothing contained in the Plan shall be construed as a contract of
      employment between an Affiliated Company and any Participant, or as a
      right of any Participant to be continued in the employment of an
      Affiliated Company, or as a limitation on the right of an Affiliated
      Company to terminate the employment of any of its employees, with or
      without cause, and with or without notice, at any time, at the option of
      an Affiliated Company.

9.6   Any masculine personal pronoun shall be considered to mean also the
      corresponding female or neuter personal pronoun, as the context requires.

9.7   The provisions of this Plan shall be construed in accordance with the
      internal substantive laws (and not the choice of law rules) of the State
      of New York, except to the extent preempted by ERISA.


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