| A. | The      Employee is a valued employee of the Employer, and the Employer wishes to      retain him in its employ. |
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| B. | The      Employer, as an inducement to such continued employment, has determined to      assist the Employee with his personal life insurance    program. |
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| C. | Prior      to the execution of this restated agreement, the Employer has been      operating a split-dollar insurance program pursuant to which it became the      owner of certain life insurance policies (the "Policies") issued by The      Northwestern Mutual Life Insurance Company on the life of the Employee,      naming the Employer as an insured party and providing the Employee with      the right to designate the beneficiary for a portion of the life insurance      proceeds and certain otherrights. |
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| D. | The      Employer and the Employee now wish to amend and restate the terms of the      program by entering into this Restated Split-Dollar Insurance Agreement      (the "Restated Agreement"). |
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| 1. | The      Employer will continue to be the sole owner of the    Policies. |
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| 2. | In      the event of the Employee's death, the beneficiaries of the Policies shall      have the following interests in the proceeds of the    Policies: |
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|   | (a) | The      Employer shall be the direct beneficiary of the Policies to the extent of      (i) the total premium advances paid to the Insurer, plus (ii) the      Employer's other cash payments to or on behalf of the Employee related to      the Policies, less (iii) the outstanding indebtedness on the Policies      ("Primary Interest"). |
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|   | (b) | If      the proceeds of the Policies exceed the amount of the Primary Interest,      the Employee's designated beneficiaries shall be the direct beneficiaries      of the remaining proceeds to the extent of 200% of the Employee's annual      compensation rate at his date of death, plus 100% of the Employee's most      recently received bonus as of his date of death ("Secondary      Interest"). |
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|   | (c) | If      the proceeds of the Policies exceed the sum of the Primary Interest and      the Secondary Interest, the Employer shall be the direct beneficiary of      any remaining proceeds. |
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| 3. | The      Employee shall have the right to designate and change direct and      contingent beneficiaries of the Secondary Interest and to elect and change      a payment plan for such beneficiaries with respect to the Secondary      Interest. |
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| 4. | The      Employer shall pay all premiums on the Policies as they become      due. |
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| 5. | Policy      dividends shall be applied to purchase paid-up additional insurance      protection. |
|----|--------------------------------------------------------------------------------------------------|

| 6. | The      Employer shall not sell, surrender, change the insured, or transfer      ownership of the Policies while this Restated Agreement is in      effect. |
|----|--------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 7. | In      the event of the Employee's termination for any reason other than death,      the Restated Agreement shall terminate, and the Employee shall have the      option, for a period of 60 days, to purchase the Policies by paying the      Employer in cash an amount equal to the Primary Interest.  The      60-day purchase period will begin six months following the Employee's      termination date.  If the Employee does not purchase a Policy      pursuant to this Section, the Employer may sell, surrender, change the      insured, or transfer ownership of the Policy, and the Employee shall      forfeit all rights under thePolicy. |
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| 8. | The      Restated Agreement shall terminate automatically with respect to the      Policies at the end of the 15th policy year of the first-issued      Policy.  In that event, the Employee shall have the option, for      60 days following the Restated Agreement's termination date, to purchase      the Policies by paying the Employer in cash an amount equal to the Primary      Interest.  If the Employee does not purchase a Policy pursuant      to this Section, the Employer may sell, surrender, change the insured, or      transfer ownership of the Policy, and the Employee shall forfeit all      rights under the Policy. |
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| 9. | The      Insurer shall be bound only by the provisions of the Policies and any      endorsements, and any payments made or action taken by it in accordance      with the Policies and any endorsements shall fully discharge it from all      claims, suits and demands of all persons whatsoever.  It shall      in no way be bound by or be deemed to have notice of the provisions of      this Restated Agreement. |
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| 10. |       The      Employee shall have the right to assign any part or all of the Employee's      interest in the Policies and this Restated Agreement to any person, trust,      or other entity by execution of a written assignment delivered to the      Employer and to the Insurer. |
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| 11. |        Subject      to Section 13, the Employer and Employee may amend this Restated Agreement      at any time by written amendment signed by the Employer and      Employee |
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| 12. |       This      Restated Agreement shall bind and inure to the benefit of the Employer and      its successors and assigns; the Employee and his heirs, executors,      administrators and assigns; and any beneficiary of the      Policies. |
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| 13. |       This      Restated Agreement shall be interpreted and applied in a manner consistent      with the applicable standards for nonqualified deferred compensation plans      established by Internal Code Section 409A and its interpretive regulations      and other regulatory guidance.  To the extent that any terms of      this Restated Agreement would subject the Employee to gross income      inclusion, interest, or additional tax pursuant to Code Section 409A,      those terms are to that extent superseded by, and shall be adjusted to the      minimum extent necessary to satisfy, the applicable Code Section 409A      standards. |
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| 14. |       The      following provisions are part of this Restated Agreement and are intended      to meet the requirements of the Employee Retirement Income Security Act of      1974 with respect to the benefit plan ("Plan") established by this      Restated Agreement: |
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|   | (a) | The      named fiduciary shall be theEmployer. |
|--------|-----|------------------------------------------------|

|   | (b) | The      funding policy under this Plan is that all premiums on the Policies be      remitted to the Insurer when due. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------|

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|   | (c) | Direct      payment by the insurer is the basis of payment of benefits under this      Plan, with those benefits in turn being based on the payment of premiums      as provided in the Plan. |
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|   | (d) | For      claims procedure purposes, the "Claims Manager" shall be the      Employer. |
|--------|-----|--------------------------------------------------------------------------------------|

|   | (1) | The      Employee may claim Plan benefits by filing a written application with the      Claims Manager.  The Claims Manager will notify the claimant of      its decision within 90 days of the date the claim is filed.  If      special circumstances require an extension of time, the Claims Manager may      extend the period for up to 90 days by notifying the claimant of the      extension in writing, the reason for the extension, and the expected      decision date. |
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|   | (2) | If      a claim for Plan benefits is denied, the Claims Manager will deliver to      the claimant a written explanation setting forth the specific reasons for      the denial; references to the specific Plan provisions on which the denial      is based; a description of any additional material or information      necessary for the claimant to perfect the claim and an explanation of why      such material or information is necessary; and a description of the Plan's      review procedures and the claimant's right to bring a civil action in      federal court following any denial of the claim on  review. |
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|   | (3) | The      claimant shall have 60 days following receipt of the claim denial to file      with the Claims Manager a written request, signed by the claimant or his      authorized representative, for review of the denial.  For such      review, the claimant or his representative may submit written comments,      documents, records, and other information relating to the      claim.  In addition, the claimant may, upon request and free of      charge, have reasonable access to and copies of all documents, records,      and other information relevant to theclaim. |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (4) | In      completing the review, the Claims Manager will take into account all      submitted information, without regard to whether it was submitted as part      of the initial claim.  Within 60 days of the request for review,      the Claims Manager will decide the issue on review and notify the      claimant.  If special circumstances require an extension of      time, the Claims Manager may extend the period for up to 60 days by      notifying claimant of the extension in writing, the reason for the      extension, and the expected decisiondate. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (5) | If      the claim in denied on review, the Claims Manager will notify the claimant      of the decision in writing and will include specific reasons for the      denial; specific references to the pertinent Plan provisions on which the      denial is based; a description of the claimant's right to receive, upon      request and free of charge, reasonable access to and copies of all      documents, records, and other information relevant to the claim; and an      explanation of the claimant's right to bring a civil action in federal      court. |
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|   | HURCO      COMPANIES, INC.  by      _______________________________Signature    _______________________________Title  EMPLOYEE  __________________________________Signature |
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