Exhibit 10.1

                     AMENDMENT TO GEHL COMPANY SAVINGS PLAN

     The Gehl Savings Plan is amended in the following respects:

     1.   The last sentence of Section 3.02(a) is amended to read as follows:

          The maximum Deposits rate shall be twenty-five percent (25%) (eight
          percent (8%) for highly compensated highly employees as defined in
          Section 3.10); either or both such rates may be amended by the
          Administrator.

     2.   The last sentence of Section 3.02(b) is amended to read as follows:

          Deposits may be suspended entirely at any time.

     3.   Article XII is amended by the addition of new Section 12.12 to read as
          follows:

          Section 12.12. Required Minimum Distribution Rules.
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               (a) General. The provisions of this section will apply for
          purposes of determining required minimum distributions for calendar
          years beginning with 2003 and will take precedence over any
          inconsistent provisions of the Plan. This Section shall not be
          interpreted to provide any additional options to the recipient with
          respect to the form or timing of payment beyond the other provisions
          of the Plan, except as necessary to comply with the minimum
          requirements. All Plan distributions will be determined and made in
          accordance with the Treasury regulations under Code Section 401(a)(9).
          Notwithstanding the other provisions of this Section, distributions
          may be made under a designation made before January 1, 1984, in
          accordance with section 242(b)(2) of the Tax Equity and Fiscal
          Responsibility Act (TEFRA) and the Plan provisions that relate to
          section 242(b)(2) of TEFRA.

               (b) Designated Beneficiary. The designated beneficiary for
          purposes of this Section is the individual who is the Beneficiary and
          is the designated beneficiary under Code Section 401(a)(9) and Section
          1.401(a)(9)-1, Q&A-4, of the Treasury regulations.

               (c) Distribution Calendar Year. A distribution calendar year is a
          calendar year for which a minimum distribution is required. For
          distributions beginning before the Participant's death, the first
          distribution calendar year is the calendar year immediately preceding
          the calendar year which contains the Participant's required beginning
          date. For distributions beginning after the Participant's death, the
          first distribution calendar year is the calendar year in which
          distributions are required to begin herein. The required minimum
          distribution for the Participant's first distribution calendar year
          will be made on or before the Participant's required beginning date.
          The required minimum distribution for other distribution calendar
          years, including the required minimum distribution for the
          distribution calendar year in which the Participant's required
          beginning date occurs, will be made on or before December 31 of that
          distribution calendar year.

               (d) Life Expectancy. Life expectancy means the value computed by
          use of the Single Life Table in Section 1.401(a)(9)-9 of the Treasury
          regulations.

               (e) Participant's Account Balance. The Participant's account
          balance is the account balance as of the last valuation date in the
          calendar year immediately preceding the distribution calendar year
          (the "valuation calendar
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          year") increased by the amount of any contributions made and allocated
          or forfeitures allocated to the account balance as of dates in the
          valuation calendar year after the valuation date and decreased by
          distributions made in the valuation calendar year after the valuation
          date. The account balance for the valuation calendar year includes any
          amounts rolled over or transferred to the Plan either in the valuation
          calendar year or in the distribution calendar year if distributed or
          transferred in the valuation calendar year.

               (f) Required Beginning Date. The date described herein.

               (g) Time and Manner of Distribution. The Participant's entire
          interest will be distributed, or begin to be distributed, to the
          Participant no later than the Participant's required beginning date.
          If the Participant dies before distributions begin, the Participant's
          entire interest will be distributed, or begin to be distributed, no
          later than as follows:

                    (i)  If the Participant's surviving spouse is the
                         Participant's sole designated beneficiary, then
                         distributions to the surviving spouse will begin by
                         December 31 of the calendar year immediately following
                         the calendar year in which the Participant died, or by
                         December 31 of the calendar year in which the
                         Participant would have attained age seventy and
                         one-half (70 1/2), if later.

                    (ii) If the Participant's surviving spouse is not the
                         Participant's sole designated beneficiary, then
                         distributions to each designated beneficiary will begin
                         by December 31 of the calendar year immediately
                         following the calendar year in which the Participant
                         died or the Participant's entire interest will be
                         distributed to the designated beneficiary by December
                         31 of the calendar year containing the fifth
                         anniversary of the Participant's death.

                    (iii) If there is no designated beneficiary as of September
                         30 of the year following the year of the Participant's
                         death, the Participant's entire interest will be
                         distributed by December 31 of the calendar year
                         containing the fifth anniversary of the Participant's
                         death.

                    (iv) If the Participant's surviving spouse is the
                         Participant's sole designated beneficiary and the
                         surviving spouse dies after the Participant but before
                         distributions to the surviving spouse begin,
                         subparagraphs (ii) and (iii) will apply as if the
                         surviving spouse were the Participant.

               Unless subparagraph (iv) applies, distributions are considered to
          begin on the Participant's required beginning date. If subparagraph
          (iv) applies, distributions are considered to begin on the date
          distributions are required to begin to the surviving spouse under
          subparagraph (i). If distributions under an annuity purchased from an
          insurance company irrevocably commence to the Participant before the
          Participant's required beginning date (or to the Participant's
          surviving spouse before the date distributions are required to begin
          to the surviving spouse under subparagraph (i)), the date
          distributions are considered to begin is the date distributions
          actually commence.
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               (h) Forms of Distribution. Unless the Participant's interest is
          distributed in the form of an annuity purchased from an insurance
          company or in a single sum on or before the required beginning date,
          as of the first distribution calendar year distributions will be made
          in accordance with the rules regarding required minimum distributions
          during the Participant's lifetime and after the Participant's death,
          as applicable. If the Participant's interest is distributed in the
          form of an annuity purchased from an insurance company, distributions
          thereunder will be made in accordance with the requirements of Code
          Section 401(a)(9) and the Treasury regulations.

               (i) Required Minimum Distributions During Participant's Lifetime.
          During the Participant's lifetime, the minimum amount that will be
          distributed for each distribution calendar year is the lesser of:

                    (i)  the quotient obtained by dividing the Participant's
                         account balance by the distribution period in the
                         Uniform Lifetime Table set forth in Section
                         1.401(a)(9)-9 of the Treasury regulations, using the
                         Participant's age as of the Participant's birthday in
                         the distribution calendar year; or

                    (ii) if the Participant's sole designated beneficiary for
                         the distribution calendar year is the Participant's
                         spouse, the quotient obtained by dividing the
                         Participant's account balance by the number in the
                         Joint and Last Survivor Table set forth in Section
                         1.401(a)(9)-9 of the Treasury regulations, using the
                         Participant's and spouse's attained ages as of the
                         Participant's and spouse's birthdays in the
                         distribution calendar year.

               Required minimum distributions will be determined beginning with
          the first distribution calendar year and up to and including the
          distribution calendar year that includes the Participant's date of
          death.

               (j) Required Minimum Distributions After Participant's Death. If
          the Participant dies on or after the date distributions begin and
          there is a designated beneficiary, the minimum amount that will be
          distributed for each distribution calendar year after the year of the
          Participant's death is the quotient obtained by dividing the
          Participant's account balance by the longer of the remaining life
          expectancy of the Participant or the remaining life expectancy of the
          Participant's designated beneficiary, determined as follows:

                    (i)  The Participant's remaining life expectancy is
                         calculated using the age of the Participant in the year
                         of death, reduced by one for each subsequent year.
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                    (ii) If the Participant's surviving spouse is the
                         Participant's sole designated beneficiary, the
                         remaining life expectancy of the surviving spouse is
                         calculated for each distribution calendar year after
                         the year of the Participant's death using the surviving
                         spouse's age as of the spouse's birthday in that year.
                         For distribution calendar years after the year of the
                         surviving spouse's death, the remaining life expectancy
                         of the surviving spouse is calculated using the age of
                         the surviving spouse as of the spouse's birthday in the
                         calendar year of the spouse's death, reduced by one for
                         each subsequent calendar year.

                    (iii) If the Participant's surviving spouse is not the
                         Participant's sole designated beneficiary, the
                         designated beneficiary's remaining life expectancy is
                         calculated using the age of the beneficiary in the year
                         following the year of the Participant's death, reduced
                         by one for each subsequent year.

               If the Participant dies on or after the date distributions begin
          and there is no designated beneficiary as of September 30 of the year
          after the year of the Participant's death, the minimum amount that
          will be distributed for each distribution calendar year after the year
          of the Participant's death is the quotient obtained by dividing the
          Participant's account balance by the Participant's remaining life
          expectancy calculated using the age of the Participant in the year of
          death, reduced by one for each subsequent year. If the Participant
          dies before the date distributions begin and there is a designated
          beneficiary, the minimum amount that will be distributed for each
          distribution calendar year after the year of the Participant's death
          is the quotient obtained by dividing the Participant's account balance
          by the remaining life expectancy of the Participant's designated
          beneficiary, determined as provided in subparagraph (i). If the
          Participant dies before the date distributions begin and there is no
          designated beneficiary as of September 30 of the year following the
          year of the Participant's death, distribution of the Participant's
          entire interest will be completed by December 31 of the calendar year
          containing the fifth anniversary of the Participant's death. If the
          Participant dies before the date distributions begin, the
          Participant's surviving spouse is the Participant's sole designated
          beneficiary, and the surviving spouse dies before distributions are
          required to begin to the surviving spouse, this subsection will apply
          as if the surviving spouse were the Participant.