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                                                                      Exhibit 10

                          CALCULATION AGENCY AGREEMENT
                                    BETWEEN

                            CASE CREDIT CORPORATION
                                      AND
                              THE BANK OF NEW YORK
                          DATED AS OF OCTOBER 27, 1998



     Case Credit Corporation (the "Corporation") proposes to issue and sell
$100,000,000 aggregate principal amount of Floating Rate Notes due January 21,
2000 (the "Floating Rate Notes").   The Notes are to be issued under an
Indenture (the  "Indenture"), dated as of October 1, 1997, between the
Corporation and The Bank of New York, as Trustee (the "Trustee").  The Notes are
being sold pursuant to the terms of a Terms Agreement dated as of October 22,
1998 (the "Terms Agreement"), between the Corporation and Credit Suisse First
Boston Corporation and Merrill Lynch, Pierce, Fenner & Smith Incorporated
(collectively, the "Underwriters"), which incorporates by reference the
Underwriting Agreement, dated October 22, 1998, between the Corporation and the
Underwriters.  Terms used but not defined herein shall have the meanings
assigned to them in the Prospectus, dated July 20, 1998,  and the Prospectus
Supplement thereto, dated October 22, 1998 (the "Prospectus Supplement"),
relating to the Floating Rate Notes.

     For the purpose of appointing an agent to calculate the interest rate of
the Floating Rate Notes, the Corporation and The Bank of New York agree as
follows:

     1.   Upon the terms and subject to the conditions contained herein, the
Corporation hereby appoints The Bank of New York as its agent (in such capacity,
the "Calculation Agent") for the purpose of calculating the interest rates on
the Floating Rate Notes in the manner and at the times provided in the Floating
Rate Notes and the Prospectus Supplement.

     2.   The Calculation Agent shall exercise due care to determine the
interest rates on the Floating Rate Notes and shall communicate the same to the
Corporation, the Trustee, The Depository Trust Company and any paying agent
identified to it in writing as soon as practicable after each determination.
The Calculation Agent will, upon the request of the holder of a Floating Rate
Note, provide the interest rate then in effect with respect to the Floating Rate
Notes and, if determined, the interest rate with respect to the Floating Rate
Notes which will become effective on the next Interest Reset Date.  The
Calculation Agent and the Corporation agree to comply with the Administrative
Procedures attached hereto as Exhibit A.  No amendment to the provisions of the
Administrative Procedures relating to the duties or obligations of the
Calculation Agent hereunder may become effective without the prior written
consent of the Calculation Agent, which consent shall not be unreasonably
withheld.
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     3.   The Calculation Agent accepts its obligations set forth herein, upon
the terms and subject to the conditions hereof, including the following, to all
of which the Corporation agrees:

          (a) The Calculation Agent shall be entitled to such compensation as
may be agreed upon with the Corporation for all services rendered by the
Calculation Agent, and the Corporation promises to pay such compensation and to
reimburse the Calculation Agent for the reasonable out-of-pocket expenses
(including attorneys' and other professionals' fees and expenses) incurred by it
in connection with the services rendered by it hereunder upon receipt of such
invoices as the Corporation shall reasonably require.  The Corporation also
agrees to indemnify the Calculation Agent for, and to hold it harmless against,
any and all loss, liability, damage, claim or expense (including the costs and
expenses of defending against any claim of liability) incurred by the
Calculation Agent that arises out of or in connection with its accepting
appointment as, or acting as, Calculation Agent hereunder, except such as may
result from the negligence, willful misconduct or bad faith of the Calculation
Agent or any of its agents or employees.  The Calculation Agent shall incur no
liability and shall be indemnified and held harmless by the Corporation for, or
in respect of, any actions taken, omitted to be taken or suffered to be taken in
good faith by the Calculation Agent in reliance upon (i) the opinion or advice
of legal or other professional advisors satisfactory to it or (ii) written
instructions from the Corporation.  The Calculation Agent shall not be liable
for any error resulting from the use of or reliance on a source of information
used in good faith and with due care to calculate any interest rate hereunder.
The provisions of this Section shall survive the termination of this Agreement.

          (b) In acting under this Agreement and in connection with the Floating
Rate Notes, the Calculation Agent is acting solely as agent of the Corporation
and does not assume any obligations or relationship of agency or trust for or
with any of the owners or holders of the Notes.

          (c) The Calculation Agent shall be protected and shall incur no
liability for or in respect of any action taken or omitted to be taken or
anything suffered by it in reliance upon the terms of the Floating Rate Notes,
any notice, direction, certificate, affidavit, statement or other paper,
document or communication reasonably believed by it to be genuine and to have
been approved or signed by the proper party or parties.

          (d) The Calculation Agent, its officers, directors, employees and
shareholders may become the owners of, or acquire any interest in, the Floating
Rate Notes, with the same rights that it or they would have it were not the
Calculation Agent, and may engage or be interested in any financial or other
transaction with the Corporation as freely as if it were not the Calculation
Agent.

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          (e) Neither the Calculation Agent nor its officers, directors,
employees, agents or attorneys shall be liable to the Corporation for any act or
omission hereunder, or for any error of judgment made in good faith by it or
them, except in the case of its or their negligence or willful misconduct.

          (f) The Calculation Agent may consult with counsel, and the written
advice of such counsel or any opinion of counsel shall be full and complete
authorization and protection in respect of any action taken, suffered or omitted
by it hereunder in good faith and in reliance thereon.

          (g) The Calculation Agent shall be obligated to perform such duties
and only such duties as are herein specifically set forth, and no implied duties
or obligations shall be read into this Agreement against the Calculation Agent.

          (h) Unless herein otherwise specifically provided, any order,
certificate, notice, request, direction or other communication from the
Corporation made or given by it under any provision of this Agreement shall be
sufficient if signed by any officer of the Corporation.

          (i) The Calculation Agent may, upon obtaining the prior written
consent of the Corporation, perform any duties hereunder either directly or by
or through agents or attorneys, and the Calculation Agent shall not be
responsible for any misconduct or negligence on the part of any agent or
attorney appointed with due care by it hereunder.

          (j) The Corporation will not, without first obtaining the prior
written consent of the Calculation Agent, make any change to the Notes in the
forms filed as exhibits to the Corporation's Quarterly Report on Form 10-Q for
the period ended September 30, 1998 if such change would materially and
adversely affect the Calculation Agent's duties and obligations under this
Agreement.

     4.   (a)  The Calculation Agent may at any time resign as Calculation Agent
by giving written notice to the Corporation of such intention on its part,
specifying the date on which its desired resignation shall become effective;
provided, however, that such date shall never be earlier than 30 days after the
receipt of such notice by the Corporation, unless the Corporation agrees to
accept less notice.  The Calculation Agent may be removed at any time by the
filing with it of any instrument in writing signed on behalf of the Corporation
and specifying such removal and the date when it is intended to become
effective.  Such resignation or removal shall take effect upon the date of the
appointment by the Corporation, as hereinafter provided, of a successor
Calculation Agent. If, within 30 days after notice of resignation or removal has
been given, a successor Calculation Agent has not been appointed, the
Calculation Agent may, at the expense of the Corporation, petition a court of
competent jurisdiction to appoint a successor Calculation Agent.  A successor
Calculation Agent shall be appointed by the Corporation by an instrument in
writing signed on behalf of the Corporation and the successor Calculation Agent.
Upon the appointment of a successor Calculation Agent and acceptance by it of
such appointment, the Calculation Agent so superseded shall cease to be such
Calculation Agent hereunder.  Upon its resignation or removal, the Calculation
Agent shall be entitled to the payment by the Corporation of its compensation,
if any

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is owed to it, for services rendered hereunder and to the reimbursement of all
reasonable out-of-pocket expenses incurred in connection with the services
rendered by it hereunder.

          (b) Any successor Calculation Agent appointed hereunder shall execute
and deliver to its predecessor and to the Corporation an instrument accepting
such appointment hereunder, and thereupon such successor Calculation Agent,
without any further act, deed or conveyance, shall become vested with all the
authority, rights, powers, trusts, immunities, duties and obligations of such
predecessor with like effect as if originally named as such Calculation Agent
hereunder, and such predecessor, upon payment of its charges and disbursements
then unpaid, shall thereupon become obliged to transfer and deliver, and such
successor Calculation Agent shall be entitled to receive, copies of any relevant
records maintained by such predecessor Calculation Agent.

          (c) Any corporation into which the Calculation Agent may be merged, or
any corporation with which the Calculation Agent may be consolidated, or any
corporation resulting form any merger or consolidation to which the Calculation
Agent shall sell or otherwise transfer all or substantially all of its corporate
trust assets or business shall, to the extent permitted by applicable law and
provided that it shall be a nationally recognized financial firm or institution
having an established place of business in The City of New York, be the
successor Calculation Agent under this Agreement without the execution or filing
of any paper or any further act on the part of any of the parties hereto.
Notice of any such merger, consolidation or sale shall forthwith be given to the
Corporation and the Trustee.

     5.   Any notice required to be given hereunder shall be delivered in
person, sent by letter or telecopy or communicated by telephone (subject, in the
case of communication by telephone, to confirmation dispatched within twenty-
four hours by letter or by telecopy), in the case of the Corporation, 233 Lake
Avenue, Racine, Wisconsin 53403, telephone: (414) 636-6011, telecopy: (414)
636-6466, Attention:  Treasurer, in the case of The Bank of New York, to
Corporate Trust Trustee Administration, 101 Barclay Street, New York, New York
10286, telephone: (212) 815-5783, telecopy: (212) 815-5915 and, in the case of
The Depository Trust Company, to Manager Announcements, Dividend Department, The
Depository Trust Company, 7 Hanover Square - 22nd Floor, New York, New York
10004, telecopy: (212) 709-1264 or (212) 709-1263, or to any other address of
which any party shall have notified the others in writing as herein provided.
Any notice hereunder given by telephone, telecopy or letter shall be deemed to
be received when in the ordinary course of transmission or post, as the case may
be, it would be received.

     6.   This Agreement shall be governed by, and construed in accordance with,
the laws of the State of New York, without regard to conflicts of laws
principles thereof.

     7.   This Agreement may be executed by each of the parties hereto in any
number of counterparts, each of which counterparts, when so executed and
delivered, shall be deemed to be an original and all such counterparts shall
together constitute one and the same agreement.

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     8.   In the event of any conflict relating to the rights or obligations of
the Calculation Agent in connection with the calculation of the interest rate on
the Floating Rate Notes, the relevant terms of this Agreement shall govern such
rights and obligations.

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     IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be
executed as of the date first above written.



                                      CASE CREDIT CORPORATION

                                      By: /s/ Robert A. Wegner
                                          -------------------------------       
                                          Title: Vice President and Chief
                                                 Financial Officer


                                      THE BANK OF NEW YORK

                                      By: /s/ Mary Lagumina
                                          -------------------------------       
                                      Title: Assistant Vice President

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