W.D.       GEHL/GEHL
SUPPLEMENTAL RETIREMENT BENEFIT AGREEMENT

INDEX

|            |                                            
|----------- | -------------------------------------------
|SECTION 1.  | DEFINITIONS                                
|SECTION 2.  | SUPPLEMENTAL RETIREMENT BENEFITS           
|SECTION 3.  | PRE-RETIREMENT DEATH BENEFIT               
|SECTION 4.  | NON-COMPETITION REQUIREMENT                
|SECTION 5.  | CHANGE IN CONTROL                          
|SECTION 6.  | NO RIGHTS OF EMPLOYMENT                    
|SECTION 7.  | EMPLOYEES RIGHTS NON-ASSIGNABLE           
|SECTION 8.  | COMPANY NOT REQUIRED TO FUND THIS AGREEMENT
|SECTION 9.  | ADMINISTRATION                             
|SECTION 10. | SUCCESSORS AND ASSIGNS                     
|Signatures  |                                            

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WILLIAM D. GEHL/GEHL
COMPANY SUPPLEMENTAL RETIREMENT BENEFIT AGREEMENT

THIS
AGREEMENT, made this 15th day of December, 1995, by and between
GEHL COMPANY, West Bend, Wisconsin (hereinafter referred to as the
Company), and William D. Gehl, of Milwaukee, Wisconsin (hereinafter
referred to as the Employee):

W I T N E S S E T H:

WHEREAS,
the Employee is currently employed by the Company in the capacity of President and Chief
Executive Officer and in such position can contribute materially to its continued growth
and development and to its future financial success; and

WHEREAS,
the Company desires to insure insofar as possible that the Company will have the benefit
of the Employees full services and executive capacities for future years;

NOW,
THEREFORE, in consideration of services rendered by the Employee to the Company, it is
agreed as follows:

Section
1.    Definitions.

(a)             Average
Monthly Compensation means one-sixtieth (1/60th) of the           Employees
base salary and cash bonus from the Company for the highest five           (5) calendars
years within the last ten (10) completed calendar years preceding           the date of
the Employees termination of employment with the Company. In           the event
the Employee does not have five (5) calendar years of employment, only           the
number of full months from the date of hire through the December preceding
          termination of employment shall be used to determine Average Monthly
          Compensation. Cash bonus means the cash distributed to the Employee during a
          calendar year pursuant to Exhibit A of the Employment Agreement. Base salary
and           cash bonus for this purpose include any salary reduction deferrals pursuant
to a           cash or deferred arrangement or a cafeteria plan pursuant to Internal
Revenue           Code (Code) Sections 401(k) or 125.

(b)             Beneficiary means
the person, trust and/or other entity designated           by the Employee on the form
most recently filed with the Secretary of the           Company prior to the Employees
death. In the event no validly designated           beneficiary survives the Employee by
at least one year, the Beneficiary shall be           the Employees estate. In the
event the last designated beneficiary           survives the Employee by more than one
year, the Beneficiary shall be the estate           of such last designated beneficiary.

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(c)             Disability means
a physical or mental condition which totally and           presumably permanently
prevents the Employee from engaging in any substantially           gainful activity as
determined in accordance with Section 4.03 of the Gehl           Company Retirement
Income Plan B.

(d)             Employment
Agreement means the Employees employment agreement           effective July
1, 1995.

(e)             Other
Benefits means the sum of:

| | (i) | the
Employees normal retirement age accrued monthly benefit as determined           in
accordance with Section 5.02(a) of the Gehl Company Retirement Income Plan
          B or its successor as in effect at the time benefits commence
          hereunder pursuant to Section 2(b).
| | --- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | (ii) | the
monthly amount available to the Employee under the provisions of Title 11 of
          the Social Security Act (or its successor) as in effect on, and calculated
based           on his actual earnings history for Social Security benefits as of, the
date           benefits hereunder commence pursuant to Section 2(b) below and assuming
          commencement with the month following attainment of age sixty-five (65).
| | ---- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

(f)             Vested
Percentage means the percentage of the supplemental           retirement benefit in
Section 2 earned by the Employee, subject in any event to           the forfeiture
provision of Section 4 and the change in control provision of           Section 5. The
Vested Percentage is one hundred percent (100%) in any of the           following
circumstances:

| | (i) | after
the Employee completes five (5) years of Vesting Service;
| | --- | ---------------------------------------------------------------

| | (ii) | if
the Employee suffers a Disability; or
| | ---- | ----------------------------------------

| | (iii) | if
the Employee retires from the Company after attainment of age sixty-two (62).
| | ----- | --------------------------------------------------------------------------------

In the event an Employee does not
have a Vested Percentage of one hundred           percent (100%), he shall receive ten
percent (10%) for each complete year of           Vesting Service.

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(g)              Vesting
Service means the period of the Employees consecutive           employment
with the Company from November 24, 1992 through the date of           termination of
employment.

Section
2.    Supplemental Retirement Benefits.

(a)             The
amount of the monthly supplemental retirement benefit shall be the           Employees
Vested Percentage times an amount equal to:

| | (i) | fifty
percent (50%) of the Employees Average Monthly Compensation, less
| | --- | ------------------------------------------------------------------------

| | (ii) | the
Employees Other Benefits.
| | ---- | ------------------------------

(b)              The
monthly supplement shall be payable to the Employee commencing as of the           first
day of the month following the earlier to occur of:

| | (i) | age
sixty-five (65); or
| | --- | -----------------------

| | (ii) | the
later of termination of employment from the Company or age sixty-two (62).
| | ---- | ------------------------------------------------------------------------------

The supplement shall continue to be
paid to the Employee for a period of fifteen           (15) years.

(c)             In
the event the Employee commences receiving the supplement but dies prior to           the
end of the payment period, the remaining monthly payments in the fifteen
          (15)-year period shall be made to the Beneficiary.

(d)             In
the event the Employee dies after termination of employment from the Company
          but prior to the commencement of benefits pursuant to (b) above, the monthly
          supplement calculated pursuant to subsection (a) above shall be paid to the
          Beneficiary for the fifteen (15)-year period commencing as of the first day of
          the month following the later to occur of the Employees death or the date
          the Employee would have attained (or if applicable, did attain) age sixty-two
          (62).

Section
3.    Pre-Retirement Death Benefit.

(a)              In
the event the Employee dies prior to commencement of the supplemental
          retirement benefit under Section 2(b) above and while employed by the Company,
          in lieu of any payment pursuant to Section 2 above, a pre-retirement death
          benefit shall be paid to the Beneficiary.

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(b)               The
death benefit shall be comprised of ten (10) payments, the first being due           as
of the last day of the month following the Employees death. Each
          succeeding payment shall be made on successive anniversaries of the first
          payment due date.

(c)               The
amount of each of the ten (10) payments shall be 3.6 times the           Employees
Average Monthly Compensation as of the Employees date of           death (i.e.,
thirty percent (30%) of the Employees Average Monthly           Compensation
annualized).

Section
4.    Non-Competition Requirement. Employee agrees that for a period of two (2) years
after termination of active employment hereunder, the Employee shall not, except as
permitted by the Companys prior written consent, engage in, be employed by, or in
any way advise or act for, or have any financial interest in any business which is in
substantial direct competition with the Company as such term is defined in the Employment
Agreement. If the Employee shall fail to comply with any of the foregoing conditions, he
shall forfeit all right to any payments pursuant to Section 2 hereof which would otherwise
be payable to him thereafter.

Section
5.    Change in Control. Notwithstanding the definition of Vested Percentage in
Section 1 hereof, an Employee shall be one hundred percent (100%) vested, subject to
Section 4, in the event there is a change in control of the Company as defined in the
Employment Agreement.

Section
6.    No Rights of Employment. Nothing herein contained shall be deemed to confer upon
the Employee any right to continue in the employ of the Company nor to interfere with the
right of the Company to terminate his employment at any time.

Section
7.    Employees Rights Non-Assignable. Neither the Employee nor the Beneficiary
shall have the power to transfer, assign, anticipate, alienate, sell, pledge, mortgage, or
otherwise encumber in advance any of the payments provided in this Agreement; nor shall
any of said payments nor any assets of the Company, including any insurance policies owned
by the Company, be subject to attachment, garnishment or seizure for the payment of any of
the recipients debts, judgments or other obligations arising by operation of law or
in the event of bankruptcy, insolvency or otherwise.

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Section
8.    Company Not Required to Fund This Agreement. The Company is not obligated to set
aside or credit the Employee or the Beneficiary with funds to provide for the payment of
the amounts due under this Agreement, and nothing in this Agreement shall be construed as
creating a trust fund of any kind for the benefit of the Employee or the Beneficiary. The
Employee or Beneficiary have the status of general unsecured creditors of the Company, and
this Agreement constitutes a mere promise by the Company to make future benefit payments
in accordance with the terms hereof. It is the intention of the parties that this
Agreement is unfunded for purposes of the Code and Title I of the Employee Retirement
Income Security Act of 1974, as amended.

Section
9.    Administration. This Agreement shall be administered by the Gehl Company
Compensation and Benefits Committee (herein referred to as the Committee). If
the Employee is also a Committee member, he shall abstain from any deliberations or vote
on any matter in connection with this Agreement.

Section
10.    Successors and Assigns. This Agreement shall inure to and be binding upon the
successors and assigns of the Company.

IN
WITNESS WHEREOF, the parties have executed this Agreement as of the day and year first
above written.

|Attest:                       | GEHL COMPANY               
|----------------------------- | ---------------------------
|/s/ Michael J. Mulcahy        | /s/ Arthur W. Nesbitt      
|Its:  Secretary               | Its:  Chairman of the Board
|/s/ Michael J. Mulcahy        | /s/ William D. Gehl        
|Witness as to William D. Gehl | Employee                   

-5-

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AMENDMENT NO. 1 TO THE
WILLIAM D. GEHL/GEHL COMPANY SUPPLEMENTAL RETIREMENT AGREEMENT DATED AS OF DECEMBER 15,
1995.

THIS
AMENDMENT is made by and between Gehl Company (GEHL), a Wisconsin corporation
with its principal place of business in West Bend, Wisconsin, and William D. Gehl,
(Employee) as of April 20, 2000.

RECITALS

WHEREAS,
GEHL and Employee wish to amend the Supplemental Retirement Agreement between the parties
dated as of December 15, 1995.

NOW,
THEREFORE, in consideration of the mutual promises and agreements set forth herein, the
parties agree as follows:

Section
2, Supplemental Retirement Benefits (a) (i) shall be revised to read as follows: sixty
percent (60%) of the Employees Average Monthly Compensation, less . . .

Section
3, Pre-Retirement Death Benefit (c) shall be revised to read as follows: The amount of
each of the ten (10) payments shall be 4.8 times the Employees Average Monthly
Compensation as of the employees date of death (i.e., forty percent (40%) of the
Employees Average Monthly compensation annualized).

Section
11, Acceleration shall be added as follows: In the event that payment of the benefits
provided by Section 2 hereunder is accelerated in a present value payment pursuant to the
Change in Control Section of the Employees Employment Agreement, all other benefits
and provisions hereof shall be deemed terminated.

IN
WITNESS WHEREOF, GEHL has caused this Agreement to be executed by its duly authorized
officers, and Employee has hereunto set his hand, all as of the date set forth above.

| | GEHL
COMPANY
| | ------------

| | /s/
Fred M. Butler
                                                                              Its Director
| | -------------------------------------------------------------------------------------------------------------

| | /s/
William D. Gehl
                                                                             Employee
| | ---------------------------------------------------------------------------------------------------------

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AMENDMENT NO. 2 TO THE
WILLIAM D. GEHL/GEHL COMPANY SUPPLEMENTAL RETIREMENT AGREEMENT DATED AS OF DECEMBER 15,
1995

THIS
AMENDMENT is made by and between Gehl Company (GEHL), a Wisconsin corporation
with its principal place of business in West Bend, Wisconsin, and William D. Gehl,
(Employee) as of February 23, 2007.

RECITALS

WHEREAS,
GEHL and Employee wish to amend the Supplemental Retirement Agreement between the parties
dated as of December 15, 1995 and as amended as of April 20, 2000.

NOW,
THEREFORE, in consideration of the mutual promises and agreements set forth herein, the
parties agree as follows:

Section
3, Pre-Retirement Death Benefit shall be revised to read as follows:

(a)    
In the event the Employee dies prior to commencement of the supplemental retirement
benefit under Section 2(b) above and while employed by the Company, a pre-retirement death
benefit shall be paid to the Beneficiary in lieu of any payment pursuant to Section 2
above.  The amount and form of such pre-retirement death benefit shall be pursuant to
either (b) or (c) below, depending upon which subsection is determined by the Company to
provide the larger benefit.  Such determination shall be made by the Company by
comparing the present values of the benefits as of the date of the Employees death,
using as the applicable discount rate the interest rate that would be used under the Gehl
Company Retirement Income Plan B to calculate the amount of a lump sum
distribution to be made on such date of death.

(b)    
The alternative pre-retirement death benefit payable pursuant to this subsection is
comprised of ten (10) annual payments, the first being due as of the last day of the month
following the month of the Employees death and the remaining payments being due on
successive anniversaries of the first payment due date.  The amount of each of the
ten (10) payments shall be 4.8 times the Employees Average Monthly Compensation as
of the Employees date of death (i.e., forty percent (40%) of the Employees
Average Monthly compensation annualized).

(c)    
The alternative pre-retirement death benefit payable pursuant to this subsection is the
benefit that would have been paid to the Beneficiary pursuant to Section 2(d) if the
Employee had terminated employment immediately prior to the Employees death.

IN
WITNESS WHEREOF, GEHL has caused this Agreement to be executed by its duly authorized
officers, and Employee has hereunto set his hand, all as of the date set forth above.

| | GEHL
COMPANY
| | ------------

| | /s/
John T. Byrnes
                                                                              Its Director
| | -------------------------------------------------------------------------------------------------------------

| | /s/
William D. Gehl
                                                                             Employee
| | ---------------------------------------------------------------------------------------------------------