Document:

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                                                                   EXHIBIT 10.28

                      THE CORPORATEPLAN FOR RETIREMENT(SM)
                                 EXECUTIVE PLAN

                               BASIC PLAN DOCUMENT

                                 IMPORTANT NOTE

THIS DOCUMENT HAS NOT BEEN APPROVED BY THE DEPARTMENT OF LABOR, THE INTERNAL
REVENUE SERVICE OR ANY OTHER GOVERNMENTAL ENTITY. AN ADOPTING EMPLOYER MUST
DETERMINE WHETHER THE PLAN IS SUBJECT TO THE FEDERAL SECURITIES LAWS AND THE
SECURITIES LAWS OF THE VARIOUS STATES. AN ADOPTING EMPLOYER MAY NOT RELY ON THIS
DOCUMENT TO ENSURE ANY PARTICULAR TAX CONSEQUENCES OR TO ENSURE THAT THE PLAN IS
"UNFUNDED AND MAINTAINED PRIMARILY FOR THE PURPOSE OF PROVIDING DEFERRED
COMPENSATION TO A SELECT GROUP OF MANAGEMENT OR HIGHLY COMPENSATED EMPLOYEES"
UNDER THE EMPLOYEE RETIREMENT INCOME SECURITY ACT WITH RESPECT TO THE EMPLOYER'S
PARTICULAR SITUATION. FIDELITY MANAGEMENT TRUST COMPANY, ITS AFFILIATES AND
EMPLOYEES CANNOT PROVIDE YOU WITH LEGAL ADVICE IN CONNECTION WITH THE EXECUTION
OF THIS DOCUMENT. THIS DOCUMENT SHOULD BE REVIEWED BY THE EMPLOYER'S ATTORNEY
PRIOR TO EXECUTION.

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                           CORPORATEPLAN FOR EXECUTIVE
                               BASIC PLAN DOCUMENT

ARTICLE 1
    ADOPTION AGREEMENT

ARTICLE 2
    DEFINITIONS

    2.01 - Definitions

ARTICLE 3
    PARTICIPATION

    3.01 - Date of Participation
    3.02 - Resumption of Participation Following Re employment
    3.03 - Cessation or Resumption of Participation Following a Change in Status

ARTICLE 4
    CONTRIBUTIONS

    4.01 - Deferral Contributions
    4.02 - Matching Contributions
    4.03 - Employer Contributions
    4.04 - Time of Making Contributions

ARTICLE 5

    PARTICIPANTS' ACCOUNTS

    5.01 - Individual Accounts

ARTICLE 6
    INVESTMENT OF CONTRIBUTIONS

    6.01 - Manner of Investment
    6.02 - Investment Decisions

ARTICLE 7
    RIGHT TO BENEFITS

    7.01 - Normal or Early Retirement
    7.02 - Death
    7.03 - Other Termination of Employment
    7.04 - Separate Account
    7.05 - Forfeitures
    7.06 - Adjustment for Investment Experience
    7.07 - Unforeseeable Emergency Withdrawals
    7.08 - Change in Control

ARTICLE 8
    DISTRIBUTION OF BENEFITS PAYABLE AFTER TERMINATION OF SERVICE

    8.01 - Distribution of Benefits to Participants and Beneficiaries
    8.02 - Determination of Method of Distribution
    8.03 - Notice to Trustee
    8.04 - Time of Distribution

ARTICLE 9

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    AMENDMENT AND TERMINATION

    9.01 - Amendment by Employer
    9.02 - Retroactive Amendments
    9.03 - Termination
    9.04 - Distribution Upon Termination of the Plan

ARTICLE 10
    MISCELLANEOUS

    10.01 - Communication to Participants
    10.02 - Limitation of Rights
    10.03 - Nonalienability of Benefits
    10.04 - Facility of Payment
    10.05 - Information between Employer and Trustee
    10.06 - Notices
    10.07 - Governing Law

ARTICLE 11
    PLAN ADMINISTRATION

    11.01 - Powers and responsibilities of the Administrator

    11.02 - Nondiscriminatory Exercise of Authority

    11.03 - Claims and Review  Procedures

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                                    PREAMBLE

IT IS THE INTENTION OF THE EMPLOYER TO ESTABLISH HEREIN AN UNFUNDED PLAN
MAINTAINED SOLELY FOR THE PURPOSE OF PROVIDING DEFERRED COMPENSATION FOR A
SELECT GROUP OF MANAGEMENT OR HIGHLY COMPENSATED EMPLOYEES AS PROVIDED IN ERISA.

ARTICLE 1. ADOPTION AGREEMENT.

ARTICLE 2. DEFINITIONS.

2.01. DEFINITIONS.

      (a)Wherever used herein, the following terms have the meanings set forth
       below, unless a different meaning is clearly required by the context:

          (1) "Account" means an account established on the books of the
          Employer for the purpose of recording amounts credited on behalf of a
          Participant and any income, expenses, gains or losses included
          thereon.

          (2) "Administrator" means the Employer adopting this Plan, or other
          person designated by the Employer in Section 1.01(b).

          (3) "Adoption Agreement" means Article 1, under which the Employer
          establishes and adopts or amends the Plan and designates the optional
          provisions selected by the Employer. The provisions of the Adoption
          Agreement shall be an integral part of the Plan.

          (4) "Beneficiary" means the person or persons entitled under Section
          7.02 to receive benefits under the Plan upon the death of a
          Participant.

          (5) "Code" means the Internal Revenue Code of 1986, as amended from
          time to time.

          (6) "Compensation" means for purposes of Article 4 (Contributions)
          wages as defined in Section 3401(a) of the Code and all other payments
          of compensation to an employee by the Employer (in the course of the
          Employer's trade or business) for which the Employer is required to
          furnish the employee a written statement under Section 6041(d) and
          6051(a)(3) of the Code, excluding any items elected by the Employer in
          Section 1.04, reimbursements or other expense allowances, fringe
          benefits (cash and non-cash), moving expenses, deferred compensation
          and welfare benefits, but including amounts that are not includable in
          the gross income of the Participant under a salary reduction agreement
          by reason of the application of Sections 125, 132(f)(4), 402(e)(3),
          402(h) or 403(b) of the Code. Compensation shall be determined without
          regard to any rules under Section 3401(a) of the Code that limit the
          remuneration included in wages based on the nature or location of the
          employment or the services performed (such as the exception for
          agricultural labor in Section 3401(a)(2) of the Code).

            Compensation shall also include amounts deferred pursuant to an
            election under Section 4.01.

            In the case of any Self-Employed Individual or an Owner-Employee,
          Compensation means the Self-Employed Individual's Earned Income.

          (7) "Earned Income" means the net earnings of a Self-Employed
          Individual derived from the trade or business with respect to which
          the Plan is established and for which the personal services of such
          individual are a material income-providing factor, excluding any items
          not included in gross income and the deductions allocated to such
          items, except that for taxable years beginning after December 31, 1989
          net earnings shall be determined with regard to the deduction allowed
          under Section 164(f) of the Code, to the extent applicable to the
          Employer. Net earnings shall be reduced by contributions of the
          Employer to any qualified plan, to the extent a deduction is allowed
          to the Employer for such contributions under Section 404 of the Code.

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          (8) "Employee" means any employee of the Employer, Self-Employed
          Individual or Owner-Employee.

          (9) "Employer" means the employer named in Section 1.02(a) and any
          Related Employers designated in Section 1.02(b).

          (10) "Employment Commencement Date" means the date on which the
          Employee first performs an Hour of Service.

          (11) "Entry Date" means the date(s) designated in Section 1.03(b).

          (12) "ERISA" means the Employee Retirement Income Security Act of
          1974, as from time to time amended.

          (13) "Fund Share" means the share, unit, or other evidence of
          ownership in a Permissible Investment.

          (14) "Hour of Service" means, with respect to any Employee,

              (A) Each hour for which the Employee is directly or indirectly
              paid, or entitled to payment, for the performance of duties for
              the Employer or a Related Employer, each such hour to be credited
              to the Employee for the computation period in which the duties
              were performed;

              (B) Each hour for which the Employee is directly or indirectly
              paid, or entitled to payment, by the Employer or Related Employer
              (including payments made or due from a trust fund or insurer to
              which the Employer contributes or pays premiums) on account of a
              period of time during which no duties are performed (irrespective
              of whether the employment relationship has terminated) due to
              vacation, holiday, illness, incapacity, disability, layoff, jury
              duty, military duty, or leave of absence, each such hour to be
              credited to the Employee for the Eligibility Computation Period in
              which such period of time occurs, subject to the following rules:

                (i) No more than 501 Hours of Service shall be credited under
                this paragraph (B) on account of any single continuous period
                during which the Employee performs no duties;

                (ii) Hours of Service shall not be credited under this paragraph
                (B) for a payment which solely reimburses the Employee for
                medically-related expenses, or which is made or due under a plan
                maintained solely for the purpose of complying with applicable
                workmen's compensation, unemployment compensation or disability
                insurance laws; and

                (iii) If the period during which the Employee performs no duties
                falls within two or more computation periods and if the payment
                made on account of such period is not calculated on the basis of
                units of time, the Hours of Service credited with respect to
                such period shall be allocated between not more than the first
                two such computation periods on any reasonable basis
                consistently applied with respect to similarly situated
                Employees; and

              (C) Each hour not counted under paragraph (A) or (B) for which
              back pay, irrespective of mitigation of damages, has been either
              awarded or agreed to be paid by the Employer or a Related
              Employer, each such hour to be credited to the Employee for the
              computation period to which the award or agreement pertains rather
              than the computation period in which the award agreement or
              payment is made.

                For purposes of determining Hours of Service, Employees of the
              Employer and of all Related Employers will be treated as
              employed by a single employer. For purposes of paragraphs (B)
              and (C) above, Hours of Service will be calculated in
              accordance with the provisions of Section 2530.200b-2(b) of
              the Department of Labor regulations, which are incorporated
              herein by reference.

                Solely for purposes of determining whether a break in service
              for participation purposes has occurred in a computation
              period, an individual who is absent from work for maternity or
              paternity reasons shall receive credit for the hours of
              service which would otherwise been credited to such individual
              but for such absence, or in any case in which such hours
              cannot be determined, 8 hours of service per day of such
              absence. For purposes of this paragraph, an absence from work
              for maternity reasons means an absence (1) by reason of the
              pregnancy of the individual, (2) by reason of a birth of a
              child of the individual, (3) by reason of the placement of a
              child with the individual in connection with

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              the adoption of such child by such individual, or (4) for
              purposes of caring for such child for a period beginning
              immediately following such birth or placement. The hours of
              service credited under this paragraph shall be credited (1) in
              the computation period in which the absence begins if the
              crediting is necessary to prevent a break in service in that
              period, or (2) in all other cases, in the following
              computation period.

          (15) "Normal Retirement Age" means the normal retirement age specified
          in Section 1.07(f) of the Adoption Agreement.

          (16) "Owner-Employee" means, if the Employer is a sole proprietorship,
          the individual who is the sole proprietor, or, if the Employer is a
          partnership, a partner who owns more than 10 percent of either the
          capital interest or the profits interest of the partnership.

          (17) "Participant" means any Employee who participates in the Plan in
          accordance with Article 3 hereof.

          (18) "Permissible Investment" means the investments specified by the
          Employer as available for investment of assets of the Trust and agreed
          to by the Trustee. The Permissible Investments under the Plan shall be
          listed in the Service Agreement.

          (19) "Plan" means the plan established by the Employer as set forth
          herein as a new plan or as an amendment to an existing plan, by
          executing the Adoption Agreement, together with any and all amendments
          hereto.

          (20) "Plan Year" means the 12-consecutive-month period designated by
          the Employer in Section 1.01(c).

          (21) "Related Employer" means any employer other than the Employer
          named in Section 1.02(a), if the Employer and such other employer are
          members of a controlled group of corporations (as defined in Section
          414(b) of the Code) or an affiliated service group (as defined in
          Section 414(m)), or are trades or businesses (whether or not
          incorporated) which are under common control (as defined in Section
          414(c)), or such other employer is required to be aggregated with the
          Employer pursuant to regulations issued under Section 414(o).

          (22) "Self-Employed Individual" means an individual who has Earned
          Income for the taxable year from the Employer or who would have had
          Earned Income but for the fact that the trade or business had no net
          profits for the taxable year.

          (23) "Service Agreement" means the agreement between the Employer and
          Trustee regarding the arrangement between the parties for
          recordkeeping services with respect to the Plan.

          (24) "Trust" means the trust created by the Employer.

          (25) "Trust Agreement" means the agreement between the Employer and
          the Trustee, as set forth in a separate agreement, under which assets
          are held, administered, and managed subject to the claims of the
          Employer's creditors in the event of the Employer's insolvency, until
          paid to Plan Participants and their Beneficiaries as specified in the
          Plan.

          (26) "Trust Fund" means the property held in the Trust by the Trustee.

          (27) "Trustee" means the corporation or individual(s) appointed by the
          Employer to administer the Trust in accordance with the Trust
          Agreement.

          (28) "Years of Service for Vesting" means, with respect to any
          Employee, the number of whole years of his periods of service with the
          Employer or a Related Employer (the elapsed time method to compute
          vesting service), subject to any exclusions elected by the Employer in
          Section 1.07(c). An Employee will receive credit for the aggregate of
          all time period(s) commencing with the Employee's Employment
          Commencement Date and ending on the date a break in service begins,
          unless any such years are excluded by Section 1.07(c). An Employee
          will also receive credit for any period of severance of less than 12
          consecutive months. Fractional periods of a year will be expressed in
          terms of days.

            In the case of a Participant who has 5 consecutive 1-year breaks in
          service, all years of service after such breaks in service will be
          disregarded for the purpose of vesting the Employer-derived account
          balance that

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          accrued before such breaks, but both pre-break and post-break
          service will count for the purposes of vesting the Employer-derived
          account balance that accrues after such breaks. Both accounts will
          share in the earnings and losses of the fund.

            In the case of a Participant who does not have 5 consecutive 1-year
          breaks in service, both the pre-break and post-break service will
          count in vesting both the pre-break and post-break employer-derived
          account balance.

            A break in service is a period of severance of at least 12
          consecutive months. Period of severance is a continuous period of time
          during which the Employee is not employed by the Employer. Such period
          begins on the date the Employee retires, quits or is discharged, or if
          earlier, the 12-month anniversary of the date on which the Employee
          was otherwise first absent from service.

            In the case of an individual who is absent from work for maternity
          or paternity reasons, the 12-consecutive month period beginning on the
          first anniversary of the first date of such absence shall not
          constitute a break in service. For purposes of this paragraph, an
          absence from work for maternity or paternity reasons means an absence
          (1) by reason of the pregnancy of the individual, (2) by reason of the
          birth of a child of the individual, (3) by reason of the placement of
          a child with the individual in connection with the adoption of such
          child by such individual, or (4) for purposes of caring for such child
          for a period beginning immediately following such birth or placement.

            If the Plan maintained by the Employer is the plan of a predecessor
          employer, an Employee's Years of Service for Vesting shall include
          years of service with such predecessor employer. In any case in which
          the Plan maintained by the Employer is not the plan maintained by a
          predecessor employer, service for such predecessor shall be treated as
          service for the Employer to the extent provided in Section 1.08.

      (b) Pronouns used in the Plan are in the masculine gender but include the
      feminine gender unless the context clearly indicates otherwise.

ARTICLE 3. PARTICIPATION.

3.01. DATE OF PARTICIPATION. An eligible Employee (as set forth in Section
1.03(a)) who has filed an election pursuant to Section 4.01 will become a
Participant in the Plan on the first Entry Date coincident with or following the
date on which such election would otherwise become effective, as determined
under Section4.01.

3.02. RESUMPTION OF PARTICIPATION FOLLOWING REEMPLOYMENT. If a Participant
ceases to be an Employee and thereafter returns to the employ of the Employer he
will again become a Participant as of an Entry Date following the date on which
he completes an Hour of Service for the Employer following his re employment, if
he is an eligible Employee as defined in Section 1.03(a), and has filed an
election pursuant to Section 4.01.

3.03. CESSATION OR RESUMPTION OF PARTICIPATION FOLLOWING A CHANGE IN STATUS. If
any Participant continues in the employ of the Employer or Related Employer but
ceases to be an eligible Employee as defined in Section 1.03(a), the individual
shall continue to be a Participant until the entire amount of his benefit is
distributed; however, the individual shall not be entitled to make Deferral
Contributions or receive an allocation of Matching contributions during the
period that he is not an eligible Employee. Such Participant shall continue to
receive credit for service completed during the period for purposes of
determining his vested interest in his Accounts. In the event that the
individual subsequently again becomes an eligible Employee, the individual shall
resume full participation in accordance with Section 3.01.

ARTICLE 4. CONTRIBUTIONS.

4.01. DEFERRAL CONTRIBUTIONS. Each Participant may elect to execute a salary
reduction agreement with the Employer to reduce his Compensation by a specified
percentage, not exceeding the percentage set forth in Section 1.05(a) and equal
to a whole number multiple of one (1) percent, per payroll period, subject to
any election regarding bonuses, as set out in Subsection 1.05(a)(2). Such
agreement shall become effective on the first day of the period as set forth in
the Participant's election. The election will be effective to defer Compensation
relating to all services performed in a calendar year subsequent to the filing
of such an election, subject to any election regarding bonuses, as set out in
Subsection 1.05(a)(2). An election once made will remain in effect until a new
election is made, provided, however that such an election choosing a
distribution date pursuant to 1.06(b)(1)(B) will become ineffective the first
day of the calendar year preceding the calendar year in which the election
requires the distribution to be made. A new election

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will be effective as of the first day of the following calendar year and will
apply only to Compensation payable with respect to services rendered after such
date. Amounts credited to a Participant's account prior to the effective date of
any new election will not be affected and will be paid in accordance with that
prior election. The Employer shall credit an amount to the account maintained on
behalf of the Participant corresponding to the amount of said reduction. Under
no circumstances may a salary reduction agreement be adopted retroactively. A
Participant may revoke a salary reduction agreement for a calendar year during
that year, provided, however, that such revocation shall apply only to
Compensation not yet earned. In that event, the Participant shall be precluded
from electing to defer future Compensation hereunder during the calendar year to
which the revocation applies. Notwithstanding the above,

      (a) in the calendar year in which the Plan first becomes effective or in
      the year in which the Participant first becomes eligible to participate,
      an election to defer compensation may be made within 30 days after the
      Participant is first eligible or the Plan is first effective, which
      election shall be effective with respect to Compensation payable with
      respect to services rendered after the date of the election; and

      (b) in the event the Employer has elected to permit the deferral of bonus
      payments hereunder, a salary reduction agreement applicable to such bonus
      deferral must be made in the calendar year immediately preceding the
      calendar year to which the bonus relates.

4.02. MATCHING CONTRIBUTIONS. If so provided by the Employer in Section 1.05(b),
the Employer shall make a "Matching Contribution" to be credited to the account
maintained on behalf of each Participant who had "Deferral Contributions"
pursuant to Section 4.01 made on his behalf during the year and who meets the
requirement, if any, of Section 1.05(b)(3). The amount of the "Matching
Contribution" shall be determined in accordance with Section 1.05(b).

4.03. EMPLOYER CONTRIBUTIONS. If so provided by the Employer in Section
1.05(c)(1), the Employer shall make an "Employer Contribution" to be credited to
the account maintained on behalf of each Participant who meets the requirement,
if any, of Section 1.05(c)(3) in the amount required by Section 1.05(c)(1). If
so provided by the Employer in Section 1.05(c)(2), the Employer may make an
"Employer Contribution" to be credited to the account maintained on behalf of
any Participant in such an amount as the Employer, in its sole discretion, shall
determine. In making "Employer Contributions" pursuant to Section 1.05(c)(2),
the Employer shall not be required to treat all Participants in the same manner
in determining such contributions and may determine the "Employer Contribution"
of any Participant to be zero.

4.04. TIME OF MAKING CONTRIBUTIONS. The Employer shall remit contributions
deemed made hereunder to the Trust as soon as practicable after such
contributions are deemed made under the terms of the Plan.

ARTICLE 5. PARTICIPANTS' ACCOUNTS.

5.01. INDIVIDUAL ACCOUNTS. The Administrator will establish and maintain an
Account for each Participant, which will reflect Matching and Deferral
Contributions credited to the Account on behalf of the Participant and earnings,
expenses, gains and losses credited thereto, and deemed investments made with
amounts in the Participant's Account. The Administrator will establish and
maintain such other accounts and records as it decides in its discretion to be
reasonably required or appropriate in order to discharge its duties under the
Plan. Participants will be furnished statements of their Account values at least
once each Plan Year. The Administrator shall provide the Trustee with
information on the amount credited to the separate account of each Participant
maintained by the Administrator in its records.

ARTICLE 6. INVESTMENT OF CONTRIBUTIONS.

6.01. MANNER OF INVESTMENT. All amounts credited to the Accounts of Participants
shall be treated as though invested and reinvested only in eligible investments
selected by the Employer in the Service Agreement.

6.02. INVESTMENT DECISIONS. Investments in which the Accounts of Participants
shall be treated as invested and reinvested shall be directed by the Employer or
by each Participant, or both, in accordance with the Employer's election in
Section 1.11(a).

        (a) All dividends, interest, gains and distributions of any nature that
        would be earned in respect of Fund Shares in which the Account is
        treated as investing shall be credited to the Account as though
        reinvested in additional shares of that Permissible Investment.

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        (b) Expenses that would be attributable to the acquisition of
        investments shall be charged to the Account of the Participant for which
        such investment is treated as having been made.

ARTICLE 7. RIGHT TO BENEFITS.

7.01. NORMAL OR EARLY RETIREMENT. If provided by the Employer in Section
1.07(e), each Participant who attains his Normal Retirement Age or Early
Retirement Age will have a nonforfeitable interest in his Account in accordance
with the vesting schedule(s) elected in Section 1.07. If a Participant retires
on or after attainment of Normal or Early Retirement Age, such retirement is
referred to as a normal retirement. On or after his normal retirement, the
balance of the Participant's Account, plus any amounts thereafter credited to
his Account, subject to the provisions of Section 7.06, will be distributed to
him in accordance with Article 8.

      If provided by the Employer in Section 1.07, a Participant who separates
from service before satisfying the age requirements for early retirement, but
has satisfied the service requirement will be entitled to the distribution of
his Account, subject to the provisions of Section 7.06, in accordance with
Article 8, upon satisfaction of such age requirement.

7.02. DEATH. If a Participant dies before the distribution of his Account has
commenced, or before such distribution has been completed, his Account shall
become vested in accordance with the vesting schedule(s) elected in Section 1.07
and his designated Beneficiary or Beneficiaries will be entitled to receive the
balance or remaining balance of his Account, plus any amounts thereafter
credited to his Account, subject to the provisions of Section 7.06. Distribution
to the Beneficiary or Beneficiaries will be made in accordance with Article 8.

      A Participant may designate a Beneficiary or Beneficiaries, or change any
prior designation of Beneficiary or Beneficiaries, by giving notice to the
Administrator on a form designated by the Administrator. If more than one person
is designated as the Beneficiary, their respective interests shall be as
indicated on the designation form.

      A copy of the death certificate or other sufficient documentation must be
filed with and approved by the Administrator. If upon the death of the
Participant there is, in the opinion of the Administrator, no designated
Beneficiary for part or all of the Participant's Account, such amount will be
paid to his surviving spouse or, if none, to his estate (such spouse or estate
shall be deemed to be the Beneficiary for purposes of the Plan). If a
Beneficiary dies after benefits to such Beneficiary have commenced, but before
they have been completed, and, in the opinion of the Administrator, no person
has been designated to receive such remaining benefits, then such benefits shall
be paid to the deceased Beneficiary's estate.

7.03. OTHER TERMINATION OF EMPLOYMENT. If provided by the Employer in Section
1.07, if a Participant terminates his employment for any reason other than death
or normal retirement, he will be entitled to a termination benefit equal to (i)
the vested percentage(s) of the value of the Matching Contributions to his
Account, as adjusted for income, expense, gain, or loss, such percentage(s)
determined in accordance with the vesting schedule(s) selected by the Employer
in Section 1.07, and (ii) the value of the Deferral Contributions to his Account
as adjusted for income, expense, gain or loss. The amount payable under this
Section 7.03 will be subject to the provisions of Section 7.06 and will be
distributed in accordance with Article 8.

7.04. SEPARATE ACCOUNT. If a distribution from a Participant's Account has been
made to him at a time when he has a nonforfeitable right to less than 100
percent of his Account, the vesting schedule in Section 1.07 will thereafter
apply only to amounts in his Account attributable to Matching Contributions
allocated after such distribution. The balance of his Account immediately after
such distribution will be transferred to a separate account that will be
maintained for the purpose of determining his interest therein according to the
following provisions.

      At any relevant time prior to a forfeiture of any portion thereof under
Section 7.05, a Participant's nonforfeitable interest in his Account held in a
separate account described in the preceding paragraph will be equal to P(AB +
(RxD))-(RxD), where P is the nonforfeitable percentage at the relevant time
determined under Section 7.05; AB is the account balance of the separate account
at the relevant time; D is the amount of the distribution; and R is the ratio of
the account balance at the relevant time to the account balance after
distribution. Following a forfeiture of any portion of such separate account
under Section 7.05 below, any balance in the Participant's separate account will
remain fully vested and nonforfeitable.

7.05. FORFEITURES. If a Participant terminates his employment, any portion of
his Account (including any amounts credited after his termination of employment)
not payable to him under Section 7.03 will be forfeited by him.

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7.06. ADJUSTMENT FOR INVESTMENT EXPERIENCE. If any distribution under this
Article 7 is not made in a single payment, the amount remaining in the Account
after the distribution will be subject to adjustment until distributed to
reflect the income and gain or loss on the investments in which such amount is
treated as invested and any expenses properly charged under the Plan to such
amounts.

7.07. UNFORESEEABLE EMERGENCY WITHDRAWALS. Subject to the provisions of Article
8, a Participant shall not be permitted to withdraw his Account (and earnings
thereon) prior to retirement or termination of employment, except that, to the
extent permitted under Section 1.09, a Participant may apply to the
Administrator to withdraw some or all of his Account if such withdrawal is made
on account of a unforeseeable emergency as determined by the Administrator.

7.08. CHANGE IN CONTROL. If the Employer has elected to apply Section 1.06(c),
then, upon a Change in Control, as defined in Section 1.12, notwithstanding any
other provision of the Plan to the contrary, all Participants shall have a
nonforfeitable right to receive the entire amount of their account balances
under the Plan and all such amounts shall be paid out to Participants as soon as
administratively practicable.

ARTICLE 8. DISTRIBUTION OF BENEFITS.

8.01. FORM OF DISTRIBUTION OF BENEFITS TO PARTICIPANTS AND BENEFICIARIES. The
Plan provides for distribution as a lump sum to be paid in cash on the date
specified by the Employer in Section 1.06 pursuant to the method provided in
Section 8.02. If elected by the Employer in Section 1.10 and specified in the
Participant's deferral election, the distribution will be paid through a
systematic withdrawal plan (installments) for a time period not exceeding 10
years beginning on the date specified by the Employer in Section 1.06.

8.02. EVENTS REQUIRING DISTRIBUTION OF BENEFITS TO PARTICIPANTS AND
      BENEFICIARIES.

      (a) If elected by the Employer in Section 1.06(a), the Participant will
      receive a distribution upon the earliest of the events specified by the
      Employer in Section 1.06(a), subject to the provisions of Section 7.08,
      and at the time indicated in Section 1.06(a)(2). If the Participant dies
      before any event in Section 1.06(a) occurs, the Participant shall be
      considered to have terminated employment and the Participant's benefit
      will be paid to the Participant's Beneficiary in the same form and at the
      same time as it would have been paid to the Participant pursuant to this
      Article 8.

      (b) If elected by the Employer in Section 1.06(b), the Participant will
      receive a distribution of all amounts not deferred pursuant to Section
      1.06(b)(1)(B) (and earnings attributable to those amounts) upon
      termination of employment. If elected by the Employer in Section
      1.06(b)(1)(B), the Participant shall have the election to receive
      distributions of amounts deferred pursuant to Section 4.01 (and earnings
      attributable to those amounts) after a date specified by the Participant
      in his deferral election which is at least 12 months after the first day
      of the calendar year in which such amounts would be earned. Amounts
      distributed to the Participant pursuant to Section 1.06(b) shall be
      distributed at the time indicated in Section 1.06(b)(2). Subject to the
      provisions of Section 7.08, the Participant shall receive a distribution
      in the form provided in Section 8.01. If the Participant dies before any
      event in Section 1.06(a) occurs, the Participant shall be considered to
      have terminated employment and the Participant's benefit will be paid to
      the Participant's Beneficiary in the same form and at the same time as it
      would have been paid to the Participant pursuant to this Article 8.
      However, if the Participant dies before the date specified by the
      Participant in an election pursuant to Section 1.06(b)(1)(B), then the
      Participant's benefit shall be paid to the Participant's Beneficiary in
      the form provided in Section 8.01 as if the Participant had elected to be
      paid at termination of employment.

8.03. DETERMINATION OF METHOD OF DISTRIBUTION. The Participant will determine
the method of distribution of benefits to himself and his Beneficiary, subject
to the provisions of Section 8.02. Such determination will be made at the time
the Participant makes a deferral election. Unless the Employer has elected
Section 1.06(b) to control distributions, the period certain specified in a
Participant's first deferral election specifying distribution under a systematic
withdrawal plan shall apply to all subsequent elections of distributions under a
systematic withdrawal plan made by the Participant. Once a Participant has made
an election for the method of distribution, that election shall be effective for
all contributions made on behalf of the Participant attributable to any Plan
Year after that election was made and before the Plan Year in which that
election was altered in the manner prescribed by the Administrator. If the
Participant does not designate in the manner prescribed by the Administrator the
method of distribution to him and his Beneficiary, the method of distribution
shall be a lump sum at termination of employment.

<PAGE>

8.04. NOTICE TO TRUSTEE. The Administrator will notify the Trustee, pursuant to
the method stated in the Trust Agreement for providing direction, whenever any
Participant or Beneficiary is entitled to receive benefits under the Plan. The
Administrator's notice shall indicate the form, amount and frequency of benefits
that such Participant or Beneficiary shall receive.

8.05. TIME OF DISTRIBUTION. In no event will distribution to a Participant be
made later than the date specified by the Participant in his salary reduction
agreement. All distributions will be made as soon as administratively feasible
following the distribution date specified in Section 1.06 or Section 7.08, if
applicable.

ARTICLE 9. AMENDMENT AND TERMINATION.

9.01 AMENDMENT BY EMPLOYER. The Employer reserves the authority to amend the
Plan by filing with the Trustee an amended Adoption Agreement, executed by the
Employer only, on which said Employer has indicated a change or changes in
provisions previously elected by it. Such changes are to be effective on the
effective date of such amended Adoption Agreement. Any such change
notwithstanding, no Participant's Account shall be reduced by such change below
the amount to which the Participant would have been entitled if he had
voluntarily left the employ of the Employer immediately prior to the date of the
change. The Employer may from time to time make any amendment to the Plan that
may be necessary to satisfy the Code or ERISA. The Employer's board of directors
or other individual specified in the resolution adopting this Plan shall act on
behalf of the Employer for purposes of this Section 9.01.

9.02 RETROACTIVE AMENDMENTS. An amendment made by the Employer in accordance
with Section 9.01 may be made effective on a date prior to the first day of the
Plan Year in which it is adopted if such amendment is necessary or appropriate
to enable the Plan and Trust to satisfy the applicable requirements of the Code
or ERISA or to conform the Plan to any change in federal law or to any
regulations or ruling thereunder. Any retroactive amendment by the Employer
shall be subject to the provisions of Section 9.01.

9.03. TERMINATION. The Employer has adopted the Plan with the intention and
expectation that contributions will be continued indefinitely. However, said
Employer has no obligation or liability whatsoever to maintain the Plan for any
length of time and may discontinue contributions under the Plan or terminate the
Plan at any time by written notice delivered to the Trustee without any
liability hereunder for any such discontinuance or termination.

9.04. DISTRIBUTION UPON TERMINATION OF THE PLAN. Upon termination of the Plan,
no further Deferral Contributions or Matching Contributions shall be made under
the Plan, but Accounts of Participants maintained under the Plan at the time of
termination shall continue to be governed by the terms of the Plan until paid
out in accordance with the terms of the Plan.

ARTICLE 10. MISCELLANEOUS.

10.01. COMMUNICATION TO PARTICIPANTS. The Plan will be communicated to all
Participants by the Employer promptly after the Plan is adopted.

10 02. LIMITATION OF RIGHTS. Neither the establishment of the Plan and the
Trust, nor any amendment thereof, nor the creation of any fund or account, nor
the payment of any benefits, will be construed as giving to any Participant or
other person any legal or equitable right against the Employer, Administrator or
Trustee, except as provided herein; and in no event will the terms of employment
or service of any Participant be modified or in any way affected hereby.

10.03. NONALIENABILITY OF BENEFITS. The benefits provided hereunder will not be
subject to alienation, assignment, garnishment, attachment, execution or levy of
any kind, either voluntarily or involuntarily, and any attempt to cause such
benefits to be so subjected will not be recognized, except to such extent as may
be required by law.

10 04. FACILITY OF PAYMENT. In the event the Administrator determines, on the
basis of medical reports or other evidence satisfactory to the Administrator,
that the recipient of any benefit payments under the Plan is incapable of
handling his affairs by reason of minority, illness, infirmity or other
incapacity, the Administrator may disburse such payments, or direct the Trustee
to disburse such payments, as applicable, to a person or institution designated
by a court which has jurisdiction over such recipient or a person or institution
otherwise having the legal authority under State law for the care and control of
such recipient. The receipt by such person or institution of any such payments
shall be complete acquittance therefore, and any such payment to the extent
thereof, shall discharge the liability of the Trust for the payment of benefits
hereunder to such recipient.

<PAGE>

10.05. INFORMATION BETWEEN EMPLOYER AND TRUSTEE. The Employer agrees to furnish
the Trustee, and the Trustee agrees to furnish the Employer with such
information relating to the Plan and Trust as may be required by the other in
order to carry out their respective duties hereunder, including without
limitation information required under the Code or ERISA and any regulations
issued or forms adopted thereunder.

10.06. NOTICES. Any notice or other communication in connection with this Plan
shall be deemed delivered in writing if addressed as provided below and if
either actually delivered at said address or, in the case of a letter, three
business days shall have elapsed after the same shall have been deposited in the
United States mails, first-class postage prepaid and registered or certified:

      (a) If to the Employer or Administrator, to it at the address set forth in
      the Adoption Agreement, to the attention of the person specified to
      receive notice in the Adoption Agreement;

      (b) If to the Trustee, to it at the address set forth in the Trust
      Agreement;

or, in each case at such other address as the addressee shall have specified by
written notice delivered in accordance with the foregoing to the addressor's
then effective notice address.

10.07. GOVERNING LAW. The Plan and the accompanying Adoption Agreement will be
construed, administered and enforced according to ERISA, and to the extent not
preempted thereby, the laws of the Commonwealth of Massachusetts, without regard
to its conflicts of law principles.

ARTICLE 11. PLAN ADMINISTRATION.

11.01. POWERS AND RESPONSIBILITIES OF THE ADMINISTRATOR. The Administrator has
the full power and the full responsibility to administer the Plan in all of its
details, subject, however, to the applicable requirements of ERISA. The
Administrator's powers and responsibilities include, but are not limited to, the
following:

      (a) To make and enforce such rules and regulations as it deems necessary
      or proper for the efficient administration of the Plan;

      (b) To interpret the Plan, its interpretation thereof in good faith to be
      final and conclusive on all persons claiming benefits under the Plan;

      (c) To decide all questions concerning the Plan and the eligibility of any
      person to participate in the Plan;

      (d) To administer the claims and review procedures specified in Section
      11.03;

      (e) To compute the amount of benefits which will be payable to any
      Participant, former Participant or Beneficiary in accordance with the
      provisions of the Plan;

      (f) To determine the person or persons to whom such benefits will be paid;

      (g) To authorize the payment of benefits;

      (h) To comply with any applicable reporting and disclosure requirements of
      Part 1 of Subtitle B of Title I of ERISA;

      (i) To appoint such agents, counsel, accountants, and consultants as may
      be required to assist in administering the Plan;

      (j) By written instrument, to allocate and delegate its responsibilities,
      including the formation of an Administrative Committee to administer the
      Plan;

11.02. NONDISCRIMINATORY EXERCISE OF AUTHORITY. Whenever, in the administration
of the Plan, any discretionary action by the Administrator is required, the
Administrator shall exercise its authority in a nondiscriminatory manner so that
all persons similarly situated will receive substantially the same treatment.

<PAGE>

11.03. CLAIMS AND REVIEW PROCEDURES.

      (a) Claims Procedure. If any person believes he is being denied any rights
      or benefits under the Plan, such person may file a claim in writing with
      the Administrator. If any such claim is wholly or partially denied, the
      Administrator will notify such person of its decision in writing. Such
      notification will contain (i) specific reasons for the denial, (ii)
      specific reference to pertinent Plan provisions, (iii) a description of
      any additional material or information necessary for such person to
      perfect such claim and an explanation of why such material or information
      is necessary, and (iv) information as to the steps to be taken if the
      person wishes to submit a request for review, including a statement of the
      such person's right to bring a civil action under Section 502(a) of ERISA
      following as adverse determination upon review. Such notification will be
      given within 90 days after the claim is received by the Administrator (or
      within 180 days, if special circumstances require an extension of time for
      processing the claim, and if written notice of such extension and
      circumstances is given to such person within the initial 90-day period).

        If the claim concerns disability benefits under the Plan, the Plan
      Administrator must notify the claimant in writing within 45 days after the
      claim has been filed in order to deny it. If special circumstances require
      an extension of time to process the claim, the Plan Administrator must
      notify the claimant before the end of the 45-day period that the claim may
      take up to 30 days longer to process. If special circumstances still
      prevent the resolution of the claim, the Plan Administrator may then only
      take up to another 30 days after giving the claimant notice before the end
      of the original 30-day extension. If the Plan Administrator gives the
      claimant notice that the claimant needs to provide additional information
      regarding the claim, the claimant must do so within 45 days of that
      notice.

      (b) Review Procedure. Within 60 days after the date on which a person
      receives a written notice of a denied claim (or, if applicable, within 60
      days after the date on which such denial is considered to have occurred),
      such person (or his duly authorized representative) may (i) file a written
      request with the Administrator for a review of his denied claim and of
      pertinent documents and (ii) submit written issues and comments to the
      Administrator. This written request may include comments, documents,
      records, and other information relating to the claim for benefits. The
      claimant shall be provided, upon the claimant's request and free of
      charge, reasonable access to, and copies of, all documents, records, and
      other information relevant to the claim for benefits. The review will take
      into account all comments, documents, records, and other information
      submitted by the claimant relating to the claim, without regard to whether
      such information was submitted or considered in the initial benefit
      determination. The Administrator will notify such person of its decision
      in writing. Such notification will be written in a manner calculated to be
      understood by such person and will contain specific reasons for the
      decision as well as specific references to pertinent Plan provisions. The
      decision on review will be made within 60 days after the request for
      review is received by the Administrator (or within 120 days, if special
      circumstances require an extension of time for processing the request,
      such as an election by the Administrator to hold a hearing, and if written
      notice of such extension and circumstances is given to such person within
      the initial 60-day period). The extension notice shall indicate the
      special circumstances requiring an extension of time and the date by which
      the Plan expects to render the determination on review.

        If the initial claim was for disability benefits under the Plan and has
      been denied by the Plan Administrator, the claimant will have 180 days
      from the date the claimant received notice of the claim's denial in which
      to appeal that decision. The review will be handled completely
      independently of the findings and decision made regarding the initial
      claim and will be processed by an individual who is not a subordinate of
      the individual who denied the initial claim. If the claim requires medical
      judgment, the individual handling the appeal will consult with a medical
      professional whom was not consulted regarding the initial claim and who is
      not a subordinate of anyone consulted regarding the initial claim and
      identify that medical professional to the claimant.

        The Plan Administrator shall provide the claimant with written
      notification of a plan's benefit determination on review. In the case of
      an adverse benefit determination, the notification shall set forth, in a
      manner calculated to be understood by the claimant - the specific reason
      or reasons for the adverse determinations, reference to the specific plan
      provisions on which the benefit determination is based, a statement that
      the claimant is entitled to receive, upon the claimant's request and free
      of charge, reasonable access to, and copies of, all documents, records,
      and other information relevant to the claim for benefits.

<PAGE>

                      THE CORPORATEPLAN FOR RETIREMENT(SM)
                                 EXECUTIVE PLAN

                               ADOPTION AGREEMENT

                                 IMPORTANT NOTE

This document has not been approved by the Department of Labor, the Internal
Revenue Service or any other governmental entity. An Adopting Employer must
determine whether the plan is subject to the Federal securities laws and the
securities laws of the various states. An Adopting Employer may not rely on this
document to ensure any particular tax consequences or to ensure that the Plan is
"unfunded and maintained primarily for the purpose of providing deferred
compensation to a select group of management or highly compensated employees"
under the Employee Retirement Income Security Act with respect to the Employer's
particular situation. Fidelity Management Trust Company, its affiliates and
employees cannot provide you with legal advice in connection with the execution
of this document. This document should be reviewed by the Employer's attorney
prior to execution.
<PAGE>

                               ADOPTION AGREEMENT
                                    ARTICLE 1

1.01  PLAN INFORMATION

      (a)   NAME OF PLAN:

            This is the Wabash National Corporation Supplemental Plan

            __________________________________________________Plan (the "Plan").

      (b)   NAME OF PLAN ADMINISTRATOR, IF NOT THE EMPLOYER:

            ____________________________________________________________________

            Address: ___________________________________________________________

            Phone Number: ______________________________________________________

            The Plan Administrator is the agent for service of legal process for
            the Plan.

      (c)   PLAN YEAR END is December 31.

      (d)   PLAN STATUS (check one):

            (1)   [X] Effective Date of new Plan: 2/01/03

            (2)   [ ] Amendment Effective Date: ______________________

                        The original effective date of the Plan: _______________

1.02  EMPLOYER

      (a)   THE EMPLOYER IS: Wabash National Corporation

            Address:         1000 Sagamore Parkway South

                             Lafayette, IN 47903

            Contact's Name:  Mr. Raymond Sheagley

            Telephone Number: 765-771-5300

            (1)      Employer's Tax Identification Number: 52-1375208

<PAGE>

            (2)      Business form of Employer (check one):

                     (A)   [X] Corporation (Other than a Subchapter S
                               corporation)

                     (B)   [ ] Other (e.g., Subchapter S corporation,
                               partnership, sole proprietor)

            (3)      Employer's fiscal year end: December 31

      (b)   THE TERM "EMPLOYER" INCLUDES THE FOLLOWING RELATED EMPLOYER(s) (as
            defined in Section 2.01(a)(21)):

                     ___________________________________________________________

                     ___________________________________________________________

                     ___________________________________________________________

                     ___________________________________________________________

                     ___________________________________________________________

1.03  COVERAGE

      (a)   THE FOLLOWING EMPLOYEES ARE ELIGIBLE TO PARTICIPATE IN THE PLAN:

      (1)   [ ] Only those Employees listed in Attachment A will be eligible to
            participate in the Plan.

      (2)   [X] Only those Employees in the eligible class described below will
            be eligible to participate in the Plan: Salary Grades
            11-18

      (3)   [ ] Only those Employees described in the Board of Directors
            Resolutions attached hereto and hereby made a part hereof will be
            eligible to participate in the Plan.

      (b)   THE ENTRY DATE(s) SHALL BE (check one):

            (1)   [ ] each January 1.

            (2)   [ ] each January 1 and each July 1.

            (3)   [ ] each January 1 and each April 1, July 1 and October 1.

            (4)   [ ] the first day of each month.

<PAGE>

            (5)   [X] immediate upon meeting the eligibility requirements
                      specified in Subsection 1.04(a).

1.04  COMPENSATION

      FOR PURPOSES OF DETERMINING CONTRIBUTIONS UNDER THE PLAN, COMPENSATION
      SHALL BE AS DEFINED (CHECK (a) OR (b) BELOW, AS APPROPRIATE):

      (a)   [X] IN SECTION 2.01(a)(6), (check (1) or (2) below, if and as
            appropriate)):

                  (1)   [ ] but excluding (check the appropriate box(es)):

                            (A)  [ ] Overtime Pay.

                            (B)  [ ] Bonuses.

                            (C)  [ ] Commissions.

                            (D)  [ ] The value of a qualified or a non-qualified
                                      stock option granted to an Employee by the
                                      Employer to the extent such value is
                                      includable in the Employee's taxable
                                      income.

                            (E)  [ ]  The following:

                                   _____________________________________________
                                   _____________________________________________
                                   _____________________________________________

                  (2)   [ ] except as otherwise provided below:

                          _____________________________________________
                          _____________________________________________
                          _____________________________________________

      (b)   [ ] IN THE ________________________PLAN MAINTAINED BY THE EMPLOYER
                TO THE EXTENT IT IS IN EXCESS OF THE LIMIT IMPOSED UNDER CODE
                SECTION 401(a)(17).

1.05  CONTRIBUTIONS

      (a)   EMPLOYEE CONTRIBUTIONS (COMPLETE ALL THAT APPLY)

                  (1)   [X] Deferral Contributions. The Employer shall make a
                        Deferral Contribution in accordance with, and subject
                        to, Section 4.01 on behalf of each Participant who has
                        an executed salary reduction agreement in effect with
                        the Employer for the calendar year (or portion of the
                        calendar year) in question, not to exceed __60_______%
                        of Compensation for that calendar year, subject,
                        however, to any election regarding bonuses, as set out
                        in Subsection 1.05(a)(2).

                  (2)   [X] Bonus Contributions. The Employer may allow
                        Participants upon proper notice and approval to enter
                        into a special salary reduction agreement to make
                        Deferral

<PAGE>
             Contributions in an amount up to 100% of any Employer paid cash
             bonuses designated by the Employer that are made for such
             Participants during the calendar year. The Compensation definition
             elected by the Employer in Section 1.04 must include bonuses if
             bonus contributions are permitted.

      (b)   [X] MATCHING CONTRIBUTIONS (CHOOSE (1) OR (2) BELOW, AND (3) BELOW,
                AS APPLICABLE.)

        (1) [X] The Employer shall make a Matching Contribution on behalf of
            each Participant in an amount equal to the following percentage of a
            Participant's Deferral Contributions during the Plan Year (check
            one):

                 (A) [ ] 50%

                 (B) [ ] 100%

                 (C) [ ]_________ %

                 (D) [X] (Tiered Match) 100 % of the first 3 % of the
                          Participant's Compensation contributed to the Plan,

                          50 % of the next 2 % of the Participant's Compensation
                          contributed to the Plan,

                           __________% of the next _____________% of the
                           Participant's Compensation contributed to the Plan.

                 (E) [ ] The percentage declared for the year, if any, by a
                         Board of Directors' resolution.

                 (F) [ ] Other:  ________________________________________
                                     ____________________________________
                                     ____________________________________
                                     ____________________________________

        (2) [ ] Matching Contribution Offset. For each Participant who has made
            deferrals of at least the maximum amount allowed pursuant to Section
            402(g) of the Code or the maximum allowed under the Employer's plan
            listed below to such plan, the Employer shall make a Matching
            Contribution in an amount equal to (A) minus (B) below:

                  (A)   The Matching Employer Contribution, as defined in the
                        ___________________________ Plan that the Participant
                        would have received under the ______________Plan on the
                        sum of the Deferral Contributions and the Participant's
                        deferrals hereunder, as defined therein, that the
                        Participant actually made to such Plan, if no limits
                        otherwise imposed by the Code, and regulations issued
                        thereunder, applied

<PAGE>

                        to such Matching Employer Contribution and the
                        Participant's Deferral Contributions are deemed to have
                        been made to the Plan;

                  (B)   The Matching Employer Contributions actually made to
                        such Participant under the ___________________________
                        Plan for the Plan Year of the determination of the
                        Matching Contribution hereunder.

        (3) [ ]   Matching Contribution Limits (check the appropriate box(es)):

                  (A)   [ ] Deferral Contributions in excess of ________% of the
                            Participant's Compensation for the period in
                            question shall not be considered for Matching
                            Contributions.

                        Note: If the Employer elects a percentage limit in (A)
                              above and requests the Trustee to account
                              separately for matched and unmatched Deferral
                              Contributions, the Matching Contributions
                              allocated to each Participant must be computed,
                              and the percentage limit applied, based upon each
                              period.

                  (B)   [ ] Matching Contributions for each Participant for each
                            Plan Year shall be limited to $___________.

        (4)       Eligibility Requirement(s) for Matching Contributions. A
                  Participant who makes Deferral Contributions during the Plan
                  Year under Section 1.05(a) shall be entitled to Matching
                  Contributions for that Plan Year if the Participant satisfies
                  the following requirement(s) (Check the appropriate box(es).
                  Options (B) and (C) may not be elected together):

                 (A)    [ ] Is employed by the Employer on the last day of the
                            Plan Year.

                 (B)    [ ] Earns at least 500 Hours of Service during the Plan
                            Year.

                 (C)    [ ] Earns at least 1,000 Hours of Service during the
                            Plan Year.

                 (D)    [X] Other: Employed at least 3 calendar months .

                 (E)    [ ] No requirements.

                  NOTE: If option (A), (B) or (C) above is selected, then
                  Matching Contributions can only be MADE by the Employer AFTER
                  the Plan Year ends. Any Matching Contribution made before Plan
                  Year end shall not be subject to the eligibility requirements
                  of this Section 1.05(b)(3)).

      (c)   EMPLOYER CONTRIBUTIONS

<PAGE>

      (1)   [ ] Fixed Employer Contributions. The Employer shall make an
                Employer Contribution on behalf of each Participant in an amount
                determined as described below (check at least one):

            (A)  [ ]  In an amount equal to __% of each Participant's
                      Compensation each Plan Year.

            (B)  [ ]  In an amount determined and allocated as described below:

                      __________________________________________________________
                      __________________________________________________________
                      __________________________________________________________
                      __________________________________________________________

            (C)  [ ]  In an amount equal to (check at least one):

                  (i). [ ] Any profit sharing contribution that
                  the Employer would have made on behalf of the Participant
                  under the following qualified defined contribution plan but
                  for the limitations imposed by Code Section 401(a)(17):
                      __________________________________________________________
                      __________________________________________________________

                  (ii) [ ] Any contribution described in Code Section 401(m)
                  that the Employer would have made on behalf of the Participant
                  under the following qualified defined contribution plan but
                  for the limitations imposed by Code Section 401(a)(17):

                      __________________________________________________________
                      __________________________________________________________

      (2)   [X] Discretionary Employer Contributions. The Employer may make
            Employer Contributions to the accounts of Participants in any
            amount, as determined by the Employer in its sole discretion from
            time to time, which amount may be zero.

      (3)   Eligibility Requirement(s) for Employer Contributions. A Participant
            shall only be entitled to Employer Contributions under Section
            1.05(c)(1) for a Plan Year if the Participant satisfies the
            following requirement(s) (Check the appropriate box(es). Options (B)
            and (C) may not be elected together):

            (A)   [ ] Is employed by the Employer on the last day of the Plan
                      Year.

            (B)   [ ] Earns at least 500 Hours of Service during the Plan Year.

            (C)   [ ] Earns at least 1,000 Hours of Service during the Plan
                      Year.

            (D)   [X] Other: Employed at least 3 calendar months
                      __________________________________________________________
                      __________________________________________________________

            (E)   [ ] No requirements.

<PAGE>

1.06  DISTRIBUTION DATES

            Distribution from a Participant's Account pursuant to Section 8.02
            shall begin upon the following date(s) (check either (a) or (b);
            check (c), if desired):

            (a)   [X]   NON-CLASS YEAR ACCOUNTING (COMPLETE (1) AND (2)).

                        (1) The earliest of termination of employment with the
                        Employer and the following event(s) (check appropriate
                        box(es); if none selected, all distributions will be
                        upon termination of employment):

                            (A)   [X] Attainment of Normal Retirement Age (as
                                      defined in Section 1.07(f)).

                            (B)   [X] Attainment of Early Retirement Age (as
                                      defined in Section 1.07(g)).

                            (C)   [X] The date on which the Participant becomes
                                      disabled (as defined in Section 1.07(h)).

                        (2)Timing of distribution (check either (A) or (B)).

                             (A)  [X] The Distribution of the Participant's
                                      Account will be begin in the month
                                      following the event described in (a)(1)
                                      above.

                             (B)  [ ] The Distribution of the Participant's
                                      Account will begin as soon as
                                      administratively feasible in the calendar
                                      year following distribution event
                                      described in (a)(1) above.

            (b)   [ ]   CLASS YEAR ACCOUNTING (COMPLETE (1) AND (2)).

                        (1)   Upon (check at least one; (A) must be selected if
                              plan has contributions pursuant to section 1.05(b)
                              or (c)):

                             (A)  [ ] Termination of employment with the
                                      Employer.

                             (B)  [ ]   The date elected by the Participant,
                                      pursuant to Plan Section 8.02, and subject
                                      to the restrictions imposed in Plan
                                      Section 8.02 with respect to future
                                      Deferral Contributions, in which event
                                      such date of distribution must be at least
                                      one year after the date such Deferral
                                      Contribution would have been paid to the
                                      Participant in cash in the absence of the
                                      election to make the Deferral
                                      Contribution.

                        (2)   Timing of distribution (check either (A) or (B)).

                             (A)  [ ] The Distribution of the Participant's
                                      Account will begin _______ (specify month
                                      and day)following the event described in
                                      (b)(1) above.
<PAGE>

                  (B) [ ] The Distribution of the Participant's Account will
                        begin _______ (specify month and day) of the calendar
                        year following the event described in (b)(1) above.

            (c) [X] AS SOON AS ADMINISTRATIVELY FEASIBLE FOLLOWING A CHANGE OF
                  CONTROL (AS DEFINED IN SECTION 1.12).

1.07  VESTING SCHEDULE

      (a)   THE PARTICIPANT'S VESTED PERCENTAGE IN MATCHING CONTRIBUTIONS
            ELECTED IN SECTION 1.05(b) SHALL BE BASED UPON THE SCHEDULE(s)
            SELECTED BELOW.

                  (1)   [ ] N/A - No Matching Contributions

                  (2)   [X] 100% Vesting immediately

                  (3)   [ ] 3 year cliff (see C below)

                  (4)   [ ] 5 year cliff (see D below)

                  (5)   [ ] 6 year graduated (see E below)

                  (6)   [ ] 7 year graduated (see F below)

                  (7)   [ ] G below

                  (8)   [ ] Other (Attachment "B")

<TABLE>
<CAPTION>
 YEARS OF                   VESTING SCHEDULE
SERVICE FOR                 ----------------
  VESTING      C      D      E           F      G
-----------   ----   ----   ----        ----   ----
<S>           <C>    <C>    <C>         <C>    <C>
    0           0%     0%     0%          0%   ___
    1           0%     0%     0%          0%   ___
    2           0%     0%    20%          0%   ___
    3         100%     0%    40%         20%   ___
    4         100%     0%    60%         40%   ___
    5         100%   100%    80%         60%   ___
    6         100%   100%   100%         80%   ___
    7         100%   100%   100%        100%   100%
</TABLE>

      (b)   THE PARTICIPANT'S VESTED PERCENTAGE IN EMPLOYER CONTRIBUTIONS
            ELECTED IN SECTION 1.05(c) SHALL BE BASED UPON THE SCHEDULE(s)
            SELECTED BELOW.

                  (1)   [ ] N/A - No Employer Contributions

                  (2)   [X] 100% Vesting immediately

                  (3)   [ ] 3 year cliff (see C below)

                  (4)   [ ] 5 year cliff (see D below)

                  (5)   [ ] 6 year graduated (see E below)

<PAGE>

                  (6)   [ ] 7 year graduated (see F below)

                  (7)   [ ] G below

                  (8)   [ ] Other (Attachment "B")

<TABLE>
<CAPTION>
 YEARS OF                   VESTING SCHEDULE
SERVICE FOR                 ----------------
  VESTING      C      D      E           F      G
-----------   ----   ----   ----        ----   ----
<S>           <C>    <C>    <C>         <C>    <C>
    0           0%     0%     0%          0%   ___
    1           0%     0%     0%          0%   ___
    2           0%     0%    20%          0%   ___
    3         100%     0%    40%         20%   ___
    4         100%     0%    60%         40%   ___
    5         100%   100%    80%         60%   ___
    6         100%   100%   100%         80%   ___
    7         100%   100%   100%        100%   100%
</TABLE>

      (c)   [ ] YEARS OF SERVICE FOR VESTING SHALL EXCLUDE (check one):

                  (1)[ ] for new plans, service prior to the Effective Date
                         as defined in Section 1.01(e)(1).

                  (2)[ ] for existing plans converting from another plan
                         document, service prior to the original Effective Date
                         as defined in Section 1.01(e)(2).

      (d)[X] A PARTICIPANT WILL FORFEIT HIS MATCHING CONTRIBUTIONS AND EMPLOYER
             CONTRIBUTIONS UPON THE OCCURRENCE OF THE FOLLOWING EVENT (s):

            "Cause" means, with respect to a Participant, (1) commission by the
            Particpant of a felony or other serious crime, (2) fraudulent or
            dishonest conduct by the Participant intended to benefit the
            Participant at the expense of the Employer, or (3) action by the
            Participant that brings the Employer into disrepute or otherwise
            harms the Employer's reputation. Section. Forfeiture of Matching
            Account Upon Termination for Cause. In the event a Participant's
            employment with the Employer is terminated for Cause, the
            Participant's Matching Account will be forfeited, and the
            Participant will not derive any benefit under the Plan from that
            Account.

      (e)   A PARTICIPANT WILL BE 100% VESTED IN HIS MATCHING CONTRIBUTIONS AND
            EMPLOYER CONTRIBUTIONS UPON (CHECK THE APPROPRIATE BOX(ES), IF ANY;
            IF 1.06(c) IS SELECTED, PARTICIPANTS WILL AUTOMATICALLY VEST UPON
            CHANGE OF CONTROL AS DEFINED IN SECTION 1.12):

            (1) [X]  Normal Retirement Age (as defined in Section 1.07(e)).

            (2) [X]  Early Retirement Age (as defined in Section 1.07(f)).

            (3) [X]  Death.

<PAGE>

            (4) [X] The date on which the Participant becomes disabled, as
                  determined under Section 1.07(h) of the Plan.

      (f)   NORMAL RETIREMENT AGE UNDER THE PLAN IS (check one):

            (1) [X] age 65.

            (2) [ ] age (specify from 55 through 64).

            (3) [ ] the later of age ___ (cannot exceed 65) or the fifth
                 anniversary of the Participant's Commencement Date.

            If no box is checked in this Section 1.07(f), then Normal Retirement
            Age is 65.

      (g) [X] EARLY RETIREMENT AGE IS THE FIRST DAY OF THE MONTH AFTER THE
              PARTICIPANT ATTAINS AGE 55 (SPECIFY 55 OR GREATER) AND COMPLETES 1
              YEARS OF SERVICE FOR VESTING.

      (h) [X] THE DATE ON WHICH A PARTICPANT BECOMES DISABLED IS DETERMINED
              (CHECK ONE):

            (1) [X] under the long-term disability plan maintained by the
                  Employer in which the Participant participates.

            (2) [ ] under Title II or XVI of the Social
                  Security Act.

            (3) [ ] in the sole discretion of the Administrator based on
                  factors applied in a uniform and nondiscriminatory manner.

1.08  PREDECESSOR EMPLOYER SERVICE

      [ ]   SERVICE FOR PURPOSES OF VESTING IN SECTION 1.07(a) AND (b) SHALL
            INCLUDE SERVICE WITH THE FOLLOWING EMPLOYER(s):

      (a) ______________________________________________________________________

      (b) ______________________________________________________________________

      (c) ______________________________________________________________________

      (d) ______________________________________________________________________

1.09  UNFORESEEABLE EMERGENCY WITHDRAWALS

      PARTICIPANT WITHDRAWALS FOR UNFORESEEABLE EMERGENCY PRIOR TO TERMINATION
      OF EMPLOYMENT (check one; (b) must be selected if 1.06(b) has been
      selected):
<PAGE>

      (a)   [X] WILL BE ALLOWED IN ACCORDANCE WITH SECTION 7.07, SUBJECT TO A $
            5,000 MINIMUM AMOUNT. (MUST BE AT LEAST $1,000)

      (b)   [ ] WILL NOT BE ALLOWED.

1.10  DISTRIBUTIONS

      SUBJECT TO ARTICLES 7 AND 8 DISTRIBUTIONS UNDER THE PLAN ARE ALWAYS
      AVAILABLE AS A LUMP SUM. CHECK BELOW TO ALLOW DISTRIBUTIONS IN INSTALLMENT
      PAYMENTS:

      [X]   UNDER A SYSTEMATIC WITHDRAWAL PLAN (INSTALLMENTS) NOT TO EXCEED 10
            YEARS.

1.11  INVESTMENT DECISIONS

      (a)   INVESTMENT DIRECTIONS

            Investments in which the Accounts of Participants shall be treated
            as invested and reinvested shall be directed (check one):

            (1)   [ ] by the Employer among the options listed in (b) below.

            (2)   [X] by each Participant among the options listed in (b) below.

            (3)   [ ] in accordance with investment directions provided by each
                  Participant for all contribution sources in a Participant's
                  Account except the following sources shall be invested as
                  directed by the Employer (check (A) and/or (B)):

                        (A)   [ ] Nonelective Employer Contributions

                        (B)   [ ] Matching Employer Contributions

                        The Employer must direct the applicable sources among
                        the same investment options made available for
                        Participant directed sources listed in the Service
                        Agreement.

      (b)   PLAN INVESTMENT OPTIONS

            Participant Accounts will be treated as invested among the
            Investment Funds listed in the Service Agreement from time to time
            pursuant to Participant and/or Employer directions, as applicable.

            NOTE: The method and frequency for change of investments will be
                  determined under the rules applicable to the selected funds.
                  Information will be provided regarding expenses, if any, for
                  changes in investment options.

1.12  CHANGE IN CONTROL

      IF SECTION 1.06(c) IS SELECTED, THEN, PURSUANT TO SECTION 7.08 AND
      NOTWITHSTANDING ANY OTHER PROVISION OF THE PLAN TO THE CONTRARY, THE
      ACCOUNT BALANCES OF ALL PARTICIPANTS SHALL THE BECOME

<PAGE>

      IMMEDIATELY NONFORFEITABLE AND SHALL BECOME PAYABLE TO THE PARTICIPANTS AS
      SOON AS PRACTICABLE UPON A CHANGE IN THE CONTROL OF THE EMPLOYER, AS
      DEFINED BELOW:

"Change of Control" means any of the following events: (A) any "person," as that
term is used in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934,
as amended ("Exchange Act"), other than a person currently a "beneficial owner"
(as defined in Rule 13d-3 under the Exchange Act) of the Company's securities
becomes, after the effective date of the Plan, the beneficial owner, directly or
indirectly, of securities of the Company representing 50% or more of the
combined voting power of the Company's then outstanding securities; (B) during
any 2-year period, individuals who at the beginning of the period constitute the
Board of Directors, including for this purpose any new director whose election
resulted from a vacancy on the Board of Directors caused by the mandatory
retirement, death, or disability of a director and was approved by a vote of at
least two-thirds of the directors then still in office who were directors at the
beginning of the period, cease for any reason to constitute a majority of the
Board of Directors; (C) notwithstanding clauses (A) or (E) of this definition,
the Company consummates a merger or consolidation of the Company with or into
another corporation, the result of which is that the stockholders of the Company
at the time of the execution of the agreement to merge or consolidate own less
than 80% of the total equity of the corporation surviving or resulting from the
merger or consolidation or of a corporation owning, directly or indirectly, 100%
of the total equity of the surviving or resulting corporation; (D) the sale on
one or a series of transactions of all or substantially all of the assets of the
Company; (E) any person has commenced a tender or exchange offer, or entered
into an agreement or received an option to acquire beneficial ownership of 50%
or more of the total number of voting shares of the Company, unless the Board of
Directors has made a reasonable determination that such action does not
constitute and will not constitute a change in the persons in control of the
Company; or (F) a change of control of the Company of such a nature that would
be required to be reported in response to Item 6(e) of Schedule 14A of
Regulation 14A promulgated under the Exchange Act other than in circumstances
specifically covered by clauses (A) through (E) above. Section . Change of
Control. If a Change of Control occurs, each Participant's Accounts will be
distributed to the Participant (or, in the event of the Participant's death, to
the Participant's Beneficiary) in a lump sum as soon as administratively
feasible after the Change of Control.

Note: Internal Revenue Code Section 280G could impose certain, adverse tax
            consequences on both Participants and the Employer as a result of
            the application of Section 1.12. The Employer should consult with
            its attorney prior to selecting to apply Section 1. 06(c).

1.13  RELIANCE ON PLAN

      An adopting Employer may not rely solely on this Plan to ensure that the
      Plan is "unfunded and maintained primarily for the purpose of providing
      deferred compensation for a select group of management or highly
      compensated employees" with respect to the Employer's particular
      situation. This Agreement must be reviewed by the Employer's attorney
      before it is executed.

      This Adoption Agreement may be used only in conjunction with the
      CORPORATEplan for Retirement Executive Plan Basic Plan Document.

<PAGE>

                                 EXECUTION PAGE
                                (FIDELITY'S COPY)

IN WITNESS WHEREOF, the Employer has caused this Adoption Agreement to be
executed this ________day of _______________, 20_______.

                                     Employer __________________________________

                                     By       __________________________________

                                     Title    __________________________________

                                     Employer __________________________________

                                     By       __________________________________

                                         Title   _______________________________
<PAGE>

                                 EXECUTION PAGE
                                (FIDELITY'S COPY)

IN WITNESS WHEREOF, the Employer has caused this Adoption Agreement to be
executed this ________day of _______________, 20_______.

                                 Employer _________________________

                                 By _______________________________

                                 Title ____________________________

                                 Employer _________________________

                                 By _______________________________

                                      Title _______________________

<PAGE>

                                  ATTACHMENT A

PURSUANT TO SECTION 1.03(a), THE FOLLOWING ARE THE EMPLOYEES WHO ARE ELIGIBLE TO
PARTICIPATE IN THE PLAN:

                                    EMPLOYER
                                    __________________________________

                                    BY
                                    __________________________________

                                    TITLE
                                    __________________________________

                                    DATE
                                    __________________________________

NOTE: The Employer must revise Attachment A to add Employees as they become
      eligible or delete Employees who are no longer eligible. Attachment A
      should be signed and dated every time a change is made.
<PAGE>

                                  ATTACHMENT B

(a)   [ ] THE PARTICIPANT'S VESTED PERCENTAGE IN MATCHING CONTRIBUTIONS ELECTED
      IN SECTION 1.05(b) SHALL BE BASED UPON THE FOLLOWING SCHEDULE:

         _______________________________________________________________________

         _______________________________________________________________________

         _______________________________________________________________________

         _______________________________________________________________________

         _______________________________________________________________________

         _______________________________________________________________________

         _______________________________________________________________________

         _______________________________________________________________________

         _______________________________________________________________________

(b)   [ ] THE PARTICIPANT'S VESTED PERCENTAGE IN EMPLOYER CONTRIBUTIONS ELECTED
      IN SECTION 1.05(c) SHALL BE BASED UPON THE FOLLOWING SCHEDULE:

         _______________________________________________________________________

         _______________________________________________________________________

         _______________________________________________________________________

         _______________________________________________________________________

         _______________________________________________________________________

         _______________________________________________________________________

         _______________________________________________________________________

         _______________________________________________________________________

         _______________________________________________________________________<PAGE>

                                                                     EXHIBIT 4.4

                              CASE NEW HOLLAND INC.

                    $750,000,000 9 1/4% SENIOR NOTES DUE 2011

                          REGISTRATION RIGHTS AGREEMENT

                                                                  August 1, 2003

Citigroup Global Markets Inc.
Deutsche Bank Securities Inc.
UBS Securities LLC
       As Representatives of the Initial Purchasers
       named in Schedule I hereto
c/o Citigroup Global Markets Inc.
388 Greenwich Street
New York, New York 10013

Dear Sirs:

            Case New Holland Inc., a corporation organized under the laws of
Delaware (the "Company"), proposes to issue and sell to the several parties
named in Schedule I hereto (the "Initial Purchasers"), for whom you (the
"Representatives") are acting as representatives, upon the terms set forth in a
purchase agreement dated July 29, 2003 (the "Purchase Agreement"), relating to
the initial placement (the "Initial Placement") of its 9 1/4% Senior Notes due
2011 (the "Notes"). The Company's obligations under the Notes will be guaranteed
(the "Guarantees") by its parent company, CNH Global N.V., and certain of CNH
Global N.V.'s direct and indirect subsidiaries, including certain of the
Company's direct and indirect subsidiaries, named in Schedule II to the Purchase
Agreement (collectively, the "Guarantors"). References herein to the "Issuers"
refer to the Company and the Guarantors. References herein to the "Securities"
refer to the Notes and the Guarantees. To induce the Initial Purchasers to enter
into the Purchase Agreement and to satisfy a condition of your obligations
thereunder, the Company agrees with you for your benefit and the benefit of the
holders from time to time of the Securities and Exchange Securities (as defined
below) (including the Initial Purchasers) (each a "Holder" and, collectively,
the "Holders" for so long as such Person holds Securities), as follows:

<PAGE>

                                      -2-

            1. Definitions. Capitalized terms used herein without definition
shall have their respective meanings set forth in the Purchase Agreement. As
used in this Agreement, the following defined terms shall have the following
respective meanings:

            "Act" shall mean the Securities Act of 1933, as amended, and the
rules and regulations of the Commission promulgated thereunder.

            "Affiliate" of any specified Person shall mean any other Person
that, directly or indirectly, is in control of, is controlled by, or is under
common control with, such specified Person. For purposes of this definition,
control of a Person shall mean the power, direct or indirect, to direct or cause
the direction of the management and policies of such Person whether by contract
or otherwise; and the terms "controlling" and "controlled" shall have meanings
correlative to the foregoing.

            "Broker-Dealer" shall mean any broker or dealer registered as such
under the Exchange Act.

            "Business Day" shall mean any day other than a Saturday, a Sunday or
a legal holiday or a day on which banking institutions or trust companies are
authorized or obligated by law to close in New York City.

            "Commission" shall mean the Securities and Exchange Commission.

            "Company" shall have the meaning set forth in the preamble hereto.

            "Conduct Rules" shall have the meaning set forth in Section 4(u)
hereof.

            "Exchange Act" shall mean the Securities Exchange Act of 1934, as
amended, and the rules and regulations of the Commission promulgated thereunder.

            "Exchange Offer Registration Period" shall mean the 180-day period
following the consummation of the Registered Exchange Offer, exclusive of any
period during which any stop order shall be in effect suspending the
effectiveness of the Exchange Offer Registration Statement.

            "Exchange Offer Registration Statement" shall mean a registration
statement of the Issuers on an appropriate form under the Act with respect to
the Registered Exchange Offer, all amendments and supplements to such
registration statement, including post-effective amendments thereto, in each
case including the Prospectus contained therein, all exhibits thereto and all
material incorporated by reference therein.

<PAGE>

                                      -3-

            "Exchange Securities" shall mean debt securities of the Issuers
identical in all material respects to the Securities (except that the cash
interest and interest rate step-up provisions and the U.S. transfer restrictions
shall be modified or eliminated, as appropriate) to be issued under the
Indenture.

            "Exchanging Dealer" shall mean any Holder (which may include any
Initial Purchaser) that is a Broker-Dealer and elects to exchange any Securities
that it acquired for its own account as a result of market-making activities or
other trading activities (but not directly from any Issuer or any Affiliate of
any Issuer) for Exchange Securities.

            "Final Memorandum" shall have the meaning set forth in the Purchase
Agreement.

            "Guarantee" shall have the meaning set forth in the preamble hereto.

            "Guarantors" shall have the meaning set forth in the preamble
hereto.

            "Holder" shall have the meaning set forth in the preamble hereto.

            "Indenture" shall mean the indenture relating to the Securities to
be dated as of the date of original issuance of the Notes among the Company, the
Guarantors and JPMorgan Chase Bank, as may be amended or supplemented from time
to time in accordance with the terms thereof.

            "Initial Placement" shall have the meaning set forth in the preamble
hereto.

            "Initial Purchasers" shall have the meaning set forth in the
preamble hereto.

            "Issuers" shall have the meaning set forth in the preamble hereto.

            "Judgment Currency" shall have the meaning set forth in Section 17
hereof.

            "Losses" shall have the meaning set forth in Section 7(d) hereof.

            "Majority Holders" shall mean the Holders of a majority of the
aggregate principal amount of Securities and Exchange Securities registered
under any Registration Statement.

            "Managing Underwriters" shall mean the investment banker or
investment bankers and manager or managers that shall administer an underwritten
offering of the Securities.

<PAGE>

                                      -4-

            "Person" shall mean an individual, trustee, corporation,
partnership, limited liability company, joint stock company, trust,
unincorporated association, union, business association, firm or other legal
entity.

            "Prospectus" shall mean the prospectus included in any Registration
Statement (including, without limitation, a prospectus that discloses
information previously omitted from a prospectus filed as part of an effective
registration statement in reliance upon Rule 430A under the Act), as amended or
supplemented by any prospectus supplement, with respect to the terms of the
offering of any portion of the Securities or the Exchange Securities covered by
such Registration Statement, and all amendments and supplements thereto and all
material incorporated by reference therein.

            "Purchase Agreement" shall have the meaning set forth in the
preamble hereto.

            "Registered Exchange Offer" shall mean the proposed offer of the
Issuers to issue and deliver to the Holders of the Securities that are not
prohibited by any law or policy of the Commission from participating in such
offer, in exchange for the Securities, a like aggregate principal amount of the
Exchange Securities.

            "Registration Statement" shall mean any Exchange Offer Registration
Statement or Shelf Registration Statement that covers any of the Securities or
the Exchange Securities pursuant to the provisions of this Agreement, any
amendments and supplements to such registration statement, including
post-effective amendments (in each case including the Prospectus contained
therein), all exhibits thereto and all material incorporated by reference
therein.

            "Representatives" shall have the meaning set forth in the preamble
hereto.

            "Securities" shall have the meaning set forth in the preamble
hereto.

            "Shelf Registration" shall mean a registration effected pursuant to
Section 3 hereof.

            "Shelf Registration Period" shall have the meaning set forth in
Section 3(c) hereof.

            "Shelf Registration Statement" shall mean a "shelf" registration
statement of the Issuers pursuant to the provisions of Section 3 hereof which
covers some or all of the Securities or Exchange Securities, as applicable, on
an appropriate form under Rule 415 under the Act, or any similar rule that may
be adopted by the Commission, amendments and supplements to such registration
statement, including post-effective amendments, in each case

<PAGE>

                                      -5-

including the Prospectus contained therein, all exhibits thereto and all
material incorporated by reference therein.

            "Trustee" shall mean the trustee with respect to the Securities
under the Indenture.

            "Underwriter" shall mean any underwriter of Securities or Exchange
Securities in connection with an offering thereof under a Shelf Registration
Statement.

            2. Registered Exchange Offer. (a) The Issuers shall prepare and,
not later than April 30, 2005, shall file with the Commission the Exchange Offer
Registration Statement with respect to the Registered Exchange Offer. The
Issuers shall use their reasonable best efforts to cause the Exchange Offer
Registration Statement to become effective under the Act within 90 days
following the filing date of the registration statement (or if such 90th day is
not a Business Day, the next succeeding Business Day).

            (b) Upon the filing of the Exchange Offer Registration Statement,
the Issuers shall use their reasonable best efforts to consummate the Registered
Exchange Offer within 120 days, it being the objective of such Registered
Exchange Offer to enable each Holder eligible and electing to exchange
Securities for Exchange Securities (assuming that such Holder is not an
Affiliate of any of the Issuers, acquires the Exchange Securities in the
ordinary course of such Holder's business, has no arrangements with any Person
to participate in the distribution of the Exchange Securities and is not
prohibited by any law or policy of the Commission from participating in the
Registered Exchange Offer) to trade such Exchange Securities from and after
their receipt without any limitations or restrictions under the Act and without
material restrictions under the securities laws of a substantial proportion of
the States of the United States.

            (c) In connection with the Registered Exchange Offer, the Issuers
shall:

                  (i) mail to each Holder a copy of the Prospectus forming part
      of the Exchange Offer Registration Statement, together with an appropriate
      letter of transmittal and related documents;

                  (ii) keep the Registered Exchange Offer open for not less than
      20 days and not more than 30 days after the date notice thereof is mailed
      to the Holders (or, in each case, longer if required by applicable law);

<PAGE>

                                      -6-

                  (iii) use their reasonable best efforts to keep the Exchange
      Offer Registration Statement continuously effective under the Act,
      supplemented and amended as required, to ensure that it is available for
      sales of Exchange Securities by Exchanging Dealers during the Exchange
      Offer Registration Period;

                  (iv) utilize the services of a depositary for the Registered
      Exchange Offer with an address in the Borough of Manhattan in New York
      City, which may be the Trustee, or an Affiliate of the Trustee;

                  (v) permit Holders to withdraw tendered Securities at any time
      prior to the close of business, New York time, on the last Business Day on
      which the Registered Exchange Offer is open;

                  (vi) if requested by the Commission, prior to effectiveness of
      the Exchange Offer Registration Statement, provide a supplemental letter
      to the Commission (A) stating that the Issuers are conducting the
      Registered Exchange Offer in reliance on the position of the Commission in
      Exxon Capital Holdings Corporation (pub. avail. May 13, 1988) and Morgan
      Stanley and Co., Inc. (pub. avail. June 5, 1991); and (B) including a
      representation that the Issuers have not entered into any arrangement or
      understanding with any Person to distribute the Exchange Securities to be
      received in the Registered Exchange Offer and that, to the best of the
      Issuers' information and belief, each Holder participating in the
      Registered Exchange Offer is acquiring the Exchange Securities in the
      ordinary course of business and has no arrangement or understanding with
      any Person to participate in the distribution of the Exchange Securities;
      and

                  (vii) comply in all respects with all applicable laws relating
      to the Registered Exchange Offer.

            (d) As soon as practicable after the close of the Registered
Exchange Offer, the Issuers shall:

                  (i) accept for exchange all Securities duly tendered and not
      validly withdrawn pursuant to the Registered Exchange Offer;

<PAGE>

                                      -7-

                  (ii) deliver to the Trustee for cancellation in accordance
      with Section 4(s) all Securities so accepted for exchange; and

                  (iii) cause the Trustee promptly to authenticate and deliver
      to each Holder of Securities a principal amount of Exchange Securities
      equal to the principal amount of the Securities of such Holder so accepted
      for exchange.

            (e) Each Holder hereby acknowledges and agrees that any
Broker-Dealer and any such Holder using the Registered Exchange Offer to
participate in a distribution of the Exchange Securities (x) could not under
Commission policy as in effect on the date of this Agreement rely on the
position of the Commission in Morgan Stanley and Co., Inc. (pub. avail. June 5,
1991) and Exxon Capital Holdings Corporation (pub. avail. May 13, 1988), as
interpreted in the Commission's letter to Shearman & Sterling dated July 2, 1993
and similar no-action letters; and (y) must comply with the registration and
prospectus delivery requirements of the Act in connection with any secondary
resale transaction and must be covered by an effective registration statement
containing the selling security holder information required by Items 507 and
508, of Regulation S-K, as applicable, under the Act if the resales are of
Exchange Securities obtained by such Holder in exchange for Securities acquired
by such Holder directly from any Issuer or one of its Affiliates. Accordingly,
each Holder participating in the Registered Exchange Offer shall be required to
represent to the Issuers that, at the time of the consummation of the Registered
Exchange Offer:

                  (i) any Exchange Securities received by such Holder will be
      acquired in the ordinary course of business;

                  (ii) such Holder will have no arrangement or understanding
      with any Person to participate in the distribution of the Securities or
      the Exchange Securities within the meaning of the Act; and

                  (iii) such Holder is not an Affiliate of any Issuer.

            (f) If any Initial Purchaser determines that it is not eligible to
participate in the Registered Exchange Offer with respect to the exchange of
Securities constituting any portion of an unsold allotment, at the request of
such Initial Purchaser, the Issuers shall issue and deliver to such Initial
Purchaser or the Person purchasing Exchange Securities registered under a Shelf
Registration Statement as contemplated by Section 3 hereof from such Initial
Purchaser, in exchange for such Securities, a like principal amount of Exchange
Securities.

<PAGE>

                                      -8-

The Company shall use its best efforts to cause the CUSIP Service Bureau to
issue the same CUSIP and ISIN numbers for such Exchange Securities as for
Exchange Securities issued pursuant to the Registered Exchange Offer.

            (g) Interest on each Exchange Security shall accrue from the last
date on which interest was paid on the Security surrendered in exchange therefor
or, if no interest has been paid on such Security, from the date of such
Security's original issue.

            3. Shelf Registration. (a) If (i) due to any change in law or
applicable interpretations thereof by the Commission's staff, the Issuers
determine upon advice of their outside counsel that they are not permitted to
effect the Registered Exchange Offer as contemplated by Section 2 hereof; (ii)
for any other reason the Registered Exchange Offer is not declared effective
within 90 days after the date of filing of the Exchange Offer Registration
Statement or the Registered Exchange Offer is not consummated within 120 days
after the Exchange Offer Registration Statement is filed; (iii) any Initial
Purchaser so requests with respect to Securities that are not eligible to be
exchanged for Exchange Securities in the Registered Exchange Offer and that are
held by it following consummation of the Registered Exchange Offer; (iv) any
Holder (other than an Initial Purchaser) is not eligible to participate in the
Registered Exchange Offer; or (v) in the case of any Initial Purchaser that
participates in the Registered Exchange Offer or acquires Exchange Securities
pursuant to Section 2(f) hereof, such Initial Purchaser does not receive freely
tradeable Exchange Securities in exchange for Securities constituting any
portion of an unsold allotment (it being understood that (x) the requirement
that an Initial Purchaser deliver a Prospectus containing the information
required by Items 507 and 508 of Regulation S-K, as applicable, under the Act in
connection with sales of Exchange Securities acquired in exchange for such
Securities shall result in such Exchange Securities being not "freely
tradeable"; and (y) the requirement that an Exchanging Dealer deliver a
Prospectus in connection with sales of Exchange Securities acquired in the
Registered Exchange Offer in exchange for Securities acquired as a result of
market-making activities or other trading activities shall not result in such
Exchange Securities being not "freely tradeable"), the Issuers shall effect a
Shelf Registration in accordance with Section (b) hereof.

            (b) The Issuers shall as promptly as practicable (but in no event
more than 30 days after so required or requested pursuant to this Section 3),
file with the Commission and thereafter shall use their reasonable best efforts
to cause to be declared effective under the Act a Shelf Registration Statement
relating to the offer and sale of the Securities or the Exchange Securities, as
applicable, by the Holders thereof from time to time in accordance with the
methods of distribution elected by such Holders and set forth in such Shelf
Registration Statement; provided, however, that no Holder (other than an Initial
Purchaser) shall be entitled to have the Securities held by it covered by such
Shelf Registration Statement

<PAGE>

                                      -9-

unless such Holder agrees in writing to be bound by all of the provisions of
this Agreement applicable to such Holder; and provided, further, that with
respect to Exchange Securities received by an Initial Purchaser in exchange for
Securities constituting any portion of an unsold allotment, the Issuers may, if
permitted by current interpretations by the Commission's staff, file a
post-effective amendment to the Exchange Offer Registration Statement containing
the information required by Items 507 and 508 of Regulation S-K, as applicable,
in satisfaction of their obligations under this subsection with respect thereto,
and any such Exchange Offer Registration Statement, as so amended, shall be
referred to herein as, and governed by the provisions herein applicable to, a
Shelf Registration Statement.

            (c) The Issuers shall use their reasonable best efforts to keep the
Shelf Registration Statement continuously effective, supplemented and amended as
required by the Act, in order to permit the Prospectus forming part thereof to
be usable by Holders for a period of two years from the date the Shelf
Registration Statement is declared effective by the Commission or such shorter
period that will terminate when all the Securities or Exchange Securities, as
applicable, covered by the Shelf Registration Statement have been sold pursuant
to the Shelf Registration Statement (in any such case, such period being called
the "Shelf Registration Period").

            (d) The Issuers shall use their reasonable best efforts to ensure
that the Shelf Registration Statement and the related Prospectus and any
amendment or supplement thereto, as of the effective date of the Shelf
Registration Statement or such amendment or supplement, (A) comply in all
material respects with the applicable requirements of the Act and the rules and
regulations of the Commission; and (B) do not contain any untrue statement of a
material fact or omit to state a material fact required to be stated therein or
necessary in order to make the statements therein, in the light of the
circumstances under which they were made, not misleading.

            4. Additional Registration Procedures. In connection with any Shelf
Registration Statement and, to the extent applicable, any Exchange Offer
Registration Statement, the following provisions shall apply:

            (a) The Issuers shall:

                  (i) furnish to each of you, not less than three Business Days
      prior to the filing thereof with the Commission, a copy of the Exchange
      Offer Registration Statement and the Shelf Registration Statement, as the
      case may be, and each amendment thereof and each amendment or supplement,
      if any, to the Prospectus included therein (including all documents
      incorporated by reference therein after the initial filing) and shall use
      their reasonable best efforts to reflect in each such

<PAGE>

                                      -10-

      document, when so filed with the Commission, such comments as you
      reasonably propose;

                  (ii) in the case of an Exchange Offer Registration Statement,
      to the extent permitted by the Act, include the information in
      substantially the form set forth in Annex A hereto on the front cover of
      the Prospectus included in the Exchange Offer Registration Statement, in
      substantially the form set forth in Annex B hereto in the forepart of the
      Exchange Offer Registration Statement in a section setting forth details
      of the Exchange Offer, in substantially the form set forth in Annex C
      hereto in the underwriting or plan of distribution section of the
      Prospectus contained in the Exchange Offer Registration Statement, and in
      substantially the form set forth in Annex D hereto in the letter of
      transmittal delivered pursuant to the Registered Exchange Offer;

                  (iii) in the case of an Exchange Offer Registration Statement,
      if requested by an Initial Purchaser, include the information required by
      Items 507 and 508 of Regulation S-K, as applicable, in the Prospectus
      contained in the Exchange Offer Registration Statement; and

                  (iv) in the case of a Shelf Registration Statement, include
      the names of the Holders that propose to sell Securities or Exchange
      Securities pursuant to the Shelf Registration Statement as selling
      security holders.

            (b) The Issuers shall ensure that:

                  (i) any Registration Statement and any amendment thereto and
      any Prospectus forming part thereof and any amendment or supplement
      thereto complies in all material respects with the Act and the rules and
      regulations thereunder; and

                  (ii) any Registration Statement and any amendment thereto does
      not, when it becomes effective, contain an untrue statement of a material
      fact or omit to state a material fact required to be stated therein or
      necessary to make the statements therein not misleading.

            (c) The Issuers shall advise you, the Holders of Securities or the
Exchange Securities covered by any Shelf Registration Statement and any
Exchanging Dealer under any Exchange Offer Registration Statement that has
provided in writing to CNH Global a telephone or facsimile number and address
for notices (which notice pursuant to clauses (ii)-

<PAGE>

                                      -11-

(v) hereof shall be accompanied by an instruction to suspend the use of the
Prospectus until the Issuers shall have remedied the basis for such suspension):

                  (i) when a Registration Statement or any amendment thereto has
      been filed with the Commission and when the Registration Statement or any
      post-effective amendment thereto has become effective;

                  (ii) of any request by the Commission for any amendment or
      supplement to the Registration Statement or the Prospectus or for
      additional information;

                  (iii) of the issuance by the Commission of any stop order
      suspending the effectiveness of the Registration Statement or the
      initiation of any proceedings for that purpose;

                  (iv) of the receipt by any Issuer of any notification with
      respect to the suspension of the qualification of the securities included
      therein for sale in any jurisdiction or the initiation of any proceeding
      for such purpose; and

                  (v) of the happening of any event that requires any change in
      the Registration Statement or the Prospectus so that, as of such date, the
      statements therein are not misleading and do not omit to state a material
      fact required to be stated therein or necessary to make the statements
      therein (in the case of the Prospectus, in the light of the circumstances
      under which they were made) not misleading.

            (d) The Issuers shall use their reasonable best efforts to obtain
the withdrawal of any order suspending the effectiveness of any Registration
Statement or the qualification of the securities therein for sale in any
jurisdiction at the earliest possible time.

            (e) The Issuers shall furnish to each Holder of Securities or
Exchange Securities covered by any Shelf Registration Statement, without charge,
at least one copy of such Shelf Registration Statement and any post-effective
amendment thereto, including all material incorporated therein by reference,
and, if the Holder so requests in writing, all exhibits thereto (including
exhibits incorporated by reference therein).

            (f) The Issuers shall, during the Shelf Registration Period, deliver
to each Holder of Securities or Exchange Securities covered by any Shelf
Registration Statement, without charge, as many copies of the Prospectus
(including each preliminary prospectus)

<PAGE>

                                      -12-

included in such Shelf Registration Statement and any amendment or supplement
thereto as such Holder may reasonably request. The Issuers consent to the use of
the Prospectus or any amendment or supplement thereto by each of the selling
Holders of securities in connection with the offering and sale of the securities
covered by the Prospectus, or any amendment or supplement thereto, included in
the Shelf Registration Statement.

            (g) The Issuers shall furnish to each Exchanging Dealer which so
requests, without charge, at least one copy of the Exchange Offer Registration
Statement and any post-effective amendment thereto, including all material
incorporated by reference therein, and, if the Exchanging Dealer so requests in
writing, all exhibits thereto (including exhibits incorporated by reference
therein).

            (h) The Issuers shall promptly deliver to each Initial Purchaser,
each Exchanging Dealer and each other Person required to deliver a Prospectus
during the Exchange Offer Registration Period, without charge, as many copies of
the Prospectus included in such Exchange Offer Registration Statement and any
amendment or supplement thereto as any such Person may reasonably request. The
Issuers consent to the use of the Prospectus or any amendment or supplement
thereto by any Initial Purchaser, any Exchanging Dealer and any such other
Person that may be required to deliver a Prospectus following the Registered
Exchange Offer in connection with the offering and sale of the Exchange
Securities covered by the Prospectus, or any amendment or supplement thereto,
included in the Exchange Offer Registration Statement.

            (i) Prior to the Registered Exchange Offer or any other offering of
Securities or Exchange Securities pursuant to any Registration Statement, the
Issuers shall use their best efforts to arrange, if necessary, for the
qualification of the Securities or the Exchange Securities for sale under the
laws of such jurisdictions as any Holder shall reasonably request and shall use
their best efforts to maintain such qualification in effect so long as required;
provided that in no event shall any Issuer be obligated to qualify to do
business in any jurisdiction where it is not then so qualified or to take any
action that would subject it to service of process in suits, other than those
arising out of the Initial Placement, the Registered Exchange Offer or any
offering pursuant to a Shelf Registration Statement, in any such jurisdiction
where it is not then so subject.

            (j) The Issuers shall cooperate with the Holders to facilitate the
timely preparation and delivery of certificates representing Exchange Securities
or Securities to be issued or sold pursuant to any Registration Statement free
of any restrictive legends and in such denominations and registered in such
names as Holders may request within a reasonable time prior to sales of the
Exchange Securities or sales of Securities pursuant to such Registration
Statement.

<PAGE>

                                      -13-

            (k) Upon the occurrence of any event contemplated by subsections
(c)(ii) through (v) above, the Issuers, to the extent required, shall promptly
prepare a post-effective amendment to the applicable Registration Statement or
an amendment or supplement to the related Prospectus or file any other required
document so that, as thereafter delivered to purchasers of the Securities
included therein, the Prospectus will not include an untrue statement of a
material fact or omit to state any material fact necessary to make the
statements therein, in the light of the circumstances under which they were
made, not misleading. In such circumstances, the period of effectiveness of the
Exchange Offer Registration Statement provided for in Section 2 hereof and the
Shelf Registration Statement provided for in Section 3(b) hereof shall each be
extended by the number of days from and including the date of the giving of a
notice of suspension pursuant to Section 4(c) hereof to and including the date
when the Initial Purchasers, the Holders and any known Exchanging Dealer shall
have received such amended or supplemented Prospectus pursuant to this Section
4.

            (l) Not later than the effective date of any Registration Statement,
the Issuers shall provide a CUSIP number for the Securities or the Exchange
Securities, as the case may be, registered under such Registration Statement and
provide the Trustee with printed certificates for such Securities or Exchange
Securities, in a form eligible for deposit with The Depository Trust Company.

            (m) The Company shall comply with all applicable rules and
regulations of the Commission and shall make generally available to its security
holders as soon as reasonably practicable after the effective date of the
applicable Registration Statement an earnings statement satisfying the
provisions of Section 11(a) of the Act.

            (n) The Issuers shall cause the Indenture to be qualified under the
Trust Indenture Act in a timely manner.

            (o) The Company may require each Holder of securities to be sold
pursuant to any Shelf Registration Statement to furnish to the Company such
information regarding the Holder and the distribution of such securities as the
Company may from time to time reasonably require for inclusion in such
Registration Statement. The Company may exclude from such Shelf Registration
Statement the Securities or Exchange Securities of any Holder that fails to
furnish such information within a reasonable time after receiving such request.

            (p) In the case of any Shelf Registration Statement, the Issuers
shall enter into such and take all other appropriate actions (including if
requested an underwriting agreement in customary form) in order to expedite or
facilitate the registration or the disposition of the Securities or Exchange
Securities, and in connection therewith, if an underwriting agreement is entered
into, cause the same to contain indemnification provisions and procedures no
less favorable than those set forth in Section 6 (or such other provisions

<PAGE>

                                      -14-

and procedures acceptable to the Majority Holders and the Managing Underwriters,
if any, with respect to all parties to be indemnified pursuant to Section 6).

            (q) In the case of any Shelf Registration Statement, the Issuers
shall:

                  (i) make reasonably available for inspection by a
      representative for the Holders of Securities or Exchange Securities to be
      registered thereunder, which representative shall be selected by the
      Majority Holders, by the underwriters, if any, participating in any
      disposition pursuant to such Registration Statement, and any attorney,
      accountant or other agent for the Holders retained by the Majority Holders
      or for the underwriters, if any, all relevant financial and other records,
      pertinent corporate documents and properties of each Issuer and its
      subsidiaries, in each case reasonably requested by such persons;

                  (ii) cause the officers, directors and employees of each
      Issuer to supply all relevant information reasonably requested by the
      representative for the Holder, by the underwriters, if any, or any such
      attorney, accountant or agent in connection with any such Shelf
      Registration Statement as is customary for similar due diligence
      examinations; provided, however, that any information that is designated
      in writing by any Issuer, in good faith, as confidential at the time of
      delivery of such information shall be kept confidential by the Holders, by
      the underwriters, if any, or any such attorney, accountant or agent,
      unless such disclosure is made in connection with a court proceeding or
      required by law, or such information becomes available to the public
      generally or through a third party without an accompanying obligation of
      confidentiality;

                  (iii) make such representations and warranties to the Holders
      of Securities or Exchange Securities registered thereunder and the
      underwriters, if any, in form, substance and scope as are customarily made
      by issuers to underwriters in primary underwritten offerings as may be
      reasonably requested by them;

                  (iv) obtain opinions of counsel to the Issuers (which counsel
      and opinions (in form, scope and substance) shall be reasonably
      satisfactory to the Managing Underwriters, if any) addressed to each
      selling Holder and the underwriters, if any, covering such matters as are
      customarily covered in opinions requested in underwritten offerings and
      such other matters as may reasonably be requested by them;

<PAGE>

                                      -15-

                  (v) obtain "cold comfort" letters from the independent
      certified public accountants of CNH Global N.V. (and, if necessary, any
      other independent certified public accountants of any Issuer or any
      subsidiary of any Issuer or of any business acquired by any Issuer for
      which financial statements and financial data are, or are required to be,
      included in the Registration Statement), addressed to the underwriters, if
      any, and use reasonable efforts to have such letter addressed to each
      selling Holder of Securities registered thereunder (to the extent
      consistent with Statement on Auditing Standards No. 72 of the American
      Institute of Certified Public Accountants), such letter to be in customary
      form and covering matters of the type customarily covered in "cold
      comfort" letters in connection with primary underwritten offerings; and

                  (vi) deliver such documents and certificates as may be
      reasonably requested by the Majority Holders and the Managing
      Underwriters, if any, including those to evidence compliance with Section
      4(k) and with any customary conditions contained in the underwriting
      agreement or other agreement entered into by the Issuers.

The actions set forth in clauses (iii), (iv), (v) and (vi) of this Section shall
be performed at (A) the effectiveness of such Shelf Registration Statement and
each post-effective amendment thereto; and (B) each closing under any
underwriting or similar agreement as and to the extent required thereunder.

            (r) In the case of any Exchange Offer Registration Statement, upon
the reasonable request of any Initial Purchaser, the Issuers shall:

                  (i) make reasonably available for inspection by the Initial
      Purchasers, and any attorney, accountant or other agent retained by the
      Initial Purchasers, all relevant financial and other records, pertinent
      corporate documents and properties of the Issuers and their respective
      subsidiaries, in each case reasonably requested by such persons;

                  (ii) cause the officers, directors and employees of each
      Issuer to supply all relevant information reasonably requested by any
      Initial Purchaser or any attorney, accountant or agent retained by the
      Initial Purchasers in connection with any such Exchange Offer Registration
      Statement as is customary for similar due diligence examinations;
      provided, however, that any information that is designated in writing by
      any Issuer, in good faith, as confidential at the time of delivery of such
      information shall be kept confidential by such Initial Purchaser or any
      such attorney, accountant or

<PAGE>

                                      -16-

      agent, unless such disclosure is made in connection with a court
      proceeding or required by law, or such information becomes available to
      the public generally or through a third party without an accompanying
      obligation of confidentiality;

                  (iii) make such representations and warranties to the Initial
      Purchasers, in form, substance and scope as are customarily made by
      issuers to underwriters in primary underwritten offerings as may be
      reasonably requested by them;

                  (iv) obtain opinions of counsel to the Issuers (which counsel
      and opinions (in form, scope and substance) shall be reasonably
      satisfactory to the Initial Purchasers and their counsel, addressed to the
      Initial Purchasers, covering such matters as are customarily covered in
      opinions requested in underwritten offerings and such other matters as may
      be reasonably requested by the Initial Purchasers or their counsel;

                  (v) obtain "cold comfort" letters from the independent
      certified public accountants of CNH Global N.V. (and, if necessary, any
      other independent certified public accountants of or any subsidiary of any
      Issuer or of any business acquired by any Issuer for which financial
      statements and financial data are, or are required to be, included in the
      Exchange Offer Registration Statement), addressed to the Initial
      Purchasers, in customary form and covering matters of the type customarily
      covered in "cold comfort" letters in connection with primary underwritten
      offerings, or if requested by the Initial Purchasers or their counsel in
      lieu of a "cold comfort" letter, an agreed-upon procedures letter under
      Statement on Auditing Standards No. 35, covering matters reasonably
      requested by the Initial Purchasers or their counsel; and

                  (vi) deliver such documents and certificates as may be
      reasonably requested by the Initial Purchasers or their counsel, including
      those to evidence compliance with Section 4(k) and with conditions
      customarily contained in underwriting agreements.

The foregoing actions set forth in clauses (iii), (iv), (v), and (vi) of this
Section shall be performed at the close of the Registered Exchange Offer and the
effective date of any post-effective amendment to the Exchange Offer
Registration Statement.

<PAGE>

                                      -17-

            (s) If a Registered Exchange Offer is to be consummated, upon
delivery of the Securities by Holders to the Company (or to such other Person as
directed by the Company) in exchange for the Exchange Securities, the Company
shall mark, or caused to be marked, on the Securities so exchanged that such
Securities are being canceled in exchange for the Exchange Securities. In no
event shall the Securities be marked as paid or otherwise satisfied.

            (t) The Issuers will use their reasonable best efforts (i) if the
Securities have been rated prior to the initial sale of such Securities, to
confirm such ratings will apply to the Securities or the Exchange Securities, as
the case may be, covered by an Exchange Offer Registration Statement; or (ii) if
the Securities were not previously rated, to cause the Securities covered by a
Registration Statement to be rated with at least one nationally recognized
statistical rating agency, if so requested by Majority Holders with respect to
the related Registration Statement or by any Managing Underwriters.

            (u) In the event that any Broker-Dealer shall underwrite any
Securities or Exchange Securities or participate as a member of an underwriting
syndicate or selling group or "assist in the distribution" (within the meaning
of the Conduct Rules of the National Association of Securities Dealers, Inc.
(the "Conduct Rules")) thereof, whether as a Holder or as an underwriter, a
placement or sales agent or a broker or dealer in respect thereof, or otherwise,
the Issuers shall assist such Broker-Dealer in complying with the requirements
of such Conduct Rules, including, without limitation, by:

                  (i) if such Conduct Rules shall so require, engaging a
      "qualified independent underwriter" (as defined in such Conduct Rules) to
      participate in the preparation of the Registration Statement, to exercise
      usual standards of due diligence with respect thereto and, if any portion
      of the offering contemplated by such Registration Statement is an
      underwritten offering or is made through a placement or sales agent, to
      recommend the yield of such Securities or Exchange Securities;

                  (ii) indemnifying any such qualified independent underwriter
      to the extent of the indemnification of underwriters provided in Section 4
      hereof;

                  (iii) providing such information to such Broker-Dealer as may
      be required in order for such Broker-Dealer to comply with the
      requirements of such Conduct Rules; and

<PAGE>

                                      -18-

                  (iv) the Issuers shall use their reasonable best efforts to
      take all other steps necessary to effect the registration of the
      Securities or the Exchange Securities, as the case may be, covered by a
      Registration Statement.

            5. Registration Expenses. The Issuers shall bear all expenses
incurred in connection with the performance of their obligations under Sections
2, 3 and 4 hereof and, in the event of any Shelf Registration Statement, will
reimburse the Holders for the reasonable fees and disbursements of one firm or
counsel designated by the Majority Holders to act as counsel for the Holders in
connection therewith, and, in the case of any Exchange Offer Registration
Statement, will reimburse the Initial Purchasers for the reasonable fees and
disbursements of one counsel acting in connection therewith.

            6. Indemnification and Contribution. (a) The Issuers jointly and
severally agree to indemnify and hold harmless each Holder of Securities or
Exchange Securities, as the case may be, covered by any Registration Statement
(including each Initial Purchaser and each Affiliate thereof and, with respect
to any Prospectus delivery as contemplated in Section 4(h) hereof, each
Exchanging Dealer), the directors, officers, employees and agents of each such
Holder and each Person who controls any such Holder within the meaning of either
the Act or the Exchange Act against any and all losses, claims, damages or
liabilities, joint or several, to which they or any of them may become subject
under the Act, the Exchange Act or other Federal or state statutory law or
regulation, at common law or otherwise, insofar as such losses, claims, damages
or liabilities (or actions in respect thereof) arise out of or are based upon
any untrue statement or alleged untrue statement of a material fact contained in
the Registration Statement as originally filed or in any amendment thereof, or
in any preliminary prospectus or the Prospectus, or in any amendment thereof or
supplement thereto, or arise out of or are based upon the omission or alleged
omission to state therein a material fact required to be stated therein or
necessary to make the statements therein not misleading, and to reimburse each
such indemnified party, as incurred, for any legal or other expenses reasonably
incurred by them in connection with investigating or defending any such loss,
claim, damage, liability or action; provided, however, that the Issuers will not
be liable in any case to the extent that any such loss, claim, damage or
liability arises out of or is based upon any such untrue statement or alleged
untrue statement or omission or alleged omission made therein in reliance upon
and in conformity with written information furnished to the Company by or on
behalf of any such Holder specifically for use therein; provided, further, that
with respect to any untrue statement or omission of material fact made in any
preliminary prospectus, the indemnity agreement contained in this Section 6(a)
shall not inure to the benefit of any Holder from whom the Person asserting any
such loss, claim, damage or liability purchased such Securities or Exchange
Securities, as the case may be, to the extent that any such loss, claim, damage
or liability of such Holder occurs under the circumstance where it shall have
been determined by a court of competent jurisdiction by final and nonappealable
judgment that (w) the Issuers had previously furnished copies of the

<PAGE>

                                      -19-

Prospectus to such Holder, (x) delivery of the Prospectus was required by the
Act to be made to such Person, (y) the untrue statement or omission of a
material fact contained in the preliminary prospectus was corrected in the
Prospectus and (z) there was not sent or given to such Person, at or prior to
the written confirmation of the sale of such securities to such Person, a copy
of the Prospectus. This indemnity agreement will be in addition to any liability
which the Issuers may otherwise have.

            The Issuers also jointly and severally agree, and the Company
severally agrees, to indemnify or contribute as provided in Section 6(d) to
Losses of each underwriter of Securities or Exchange Securities, as the case may
be, registered under a Shelf Registration Statement, its directors, officers,
employees or agents and each Person who controls such underwriter on
substantially the same basis as that of the indemnification of the Initial
Purchasers and the selling Holders provided in this Section 6(a) and shall, if
requested by any Holder, enter into an underwriting agreement reflecting such
agreement, as provided in Section 4(p) hereof.

            (b) Each Holder of securities covered by a Registration Statement
(including each Initial Purchaser, each Affiliate thereof and, with respect to
any Prospectus delivery as contemplated in Section 4(h) hereof, each Exchanging
Dealer) severally agrees to indemnify and hold harmless the Issuers and each of
their respective directors, each of their respective officers who sign such
Registration Statement and each Person who controls any Issuer within the
meaning of either the Act or the Exchange Act, to the same extent as the
foregoing indemnity from the Issuers to each such Holder, but only to the extent
that the untrue statement or omission was made in reliance upon and in
conformity with information pertaining to such Holder furnished to the Issuers
by or on behalf of such Holder specifically for use in the documents referred to
in the foregoing indemnity. This indemnity agreement will be in addition to any
liability which any such Holder may otherwise have.

            (c) Promptly after receipt by an indemnified party under this
Section 6 of notice of the commencement of any action, such indemnified party
will, if a claim in respect thereof is to be made against the indemnifying party
under this Section 6, notify the indemnifying party in writing of the
commencement thereof; but the failure so to notify the indemnifying party (i)
will not relieve it from liability under paragraph (a) or (b) above unless and
to the extent it did not otherwise learn of such action and such failure results
in the forfeiture by the indemnifying party of substantial rights and defenses,
and (ii) will not, in any event, relieve the indemnifying party from any
obligations to any indemnified party other than the indemnification obligation
provided in paragraph (a) or (b) above. The indemnifying party shall be entitled
to appoint counsel of the indemnifying party's choice at the indemnifying
party's expense to represent the indemnified party in any action for which
indemnification is sought (in which case the indemnifying party shall not
thereafter be responsible for the fees and expenses of any separate counsel
retained by the indemnified
<PAGE>

                                      -20-

party or parties except as set forth below); provided, however, that such
counsel shall be reasonably satisfactory to the indemnified party.
Notwithstanding the indemnifying party's election to appoint counsel to
represent the indemnified party in an action, the indemnified party shall have
the right to employ separate counsel (including local counsel), and the
indemnifying party shall bear the reasonable fees, costs and expenses of such
separate counsel if (i) the use of counsel chosen by the indemnifying party to
represent the indemnified party would present such counsel with a conflict of
interest; (ii) the actual or potential defendants in, or targets of, any such
action include both the indemnified party and the indemnifying party and the
indemnified party shall have reasonably concluded that there may be legal
defenses available to it and/or other indemnified parties which are different
from or additional to those available to the indemnifying party; (iii) the
indemnifying party shall not have employed counsel reasonably satisfactory to
the indemnified party to represent the indemnified party within a reasonable
time after notice of the institution of such action; or (iv) the indemnifying
party shall authorize the indemnified party to employ separate counsel at the
expense of the indemnifying party; provided, however, in no event shall the
indemnifying parties be liable for fees and expenses of more than one counsel
for all indemnified parties in connection with any one action or separate but
similar or related actions in the same jurisdiction arising out of the same
general obligations or circumstances. An indemnifying party will not, without
the prior written consent of the indemnified parties, settle or compromise or
consent to the entry of any judgment with respect to any pending or threatened
claim, action, suit or proceeding in respect of which indemnification or
contribution may be sought hereunder (whether or not the indemnified parties are
actual or potential parties to such claim or action) unless such settlement,
compromise or consent (i) includes an unconditional release of each indemnified
party from all liability arising out of such claim, action, suit or proceeding
and (ii) does not include a statement as to, or an admission of, fault,
culpability or a failure to act by or on behalf of any indemnified party. An
indemnifying party shall not be liable under this Section 6 to any indemnified
party regarding any settlement or compromise or consent to the entry of any
judgment with respect to any pending or threatened claim, action, suit or
proceeding in respect of which indemnification or contribution may be sought
hereunder (whether or not the indemnified parties are actual or potential
parties to such claim or action) unless such settlement, compromise or consent
is consented to by such indemnifying party, which consent shall not be
unreasonably withheld.

            (d)   In the event that the indemnity provided in paragraph (a) or
(b) of this Section is unavailable to or insufficient to hold harmless an
indemnified party for any reason, then each applicable indemnifying party shall
have a joint and several obligation to contribute to the aggregate losses,
claims, damages and liabilities (including legal or other expenses reasonably
incurred in connection with investigating or defending same) (collectively
"Losses") to which such indemnified party may be subject in such proportion as
is appropriate to reflect the relative benefits received by such indemnifying
party, on the one hand, and such indemnified party, on the other hand, from the
Initial Placement and the Registration

<PAGE>

                                      -21-

Statement which resulted in such Losses; provided, however, that in no case
shall any Initial Purchaser or any subsequent Holder of any Security or Exchange
Security be responsible, in the aggregate, for any amount in excess of the
purchase discount or commission applicable to such Security, or in the case of a
Exchange Security, applicable to the Security that was exchangeable into such
Exchange Security, as set forth on the cover page of the Final Memorandum, nor
shall any underwriter be responsible for any amount in excess of the
underwriting discount or commission applicable to the securities purchased by
such underwriter under the Registration Statement which resulted in such Losses.
If the allocation provided by the immediately preceding sentence is unavailable
for any reason, the indemnifying party and the indemnified party shall
contribute in such proportion as is appropriate to reflect not only such
relative benefits but also the relative fault of such indemnifying party, on the
one hand, and such indemnified party, on the other hand, in connection with the
statements or omissions which resulted in such Losses as well as any other
relevant equitable considerations. Benefits received by the Issuers shall be
deemed to be equal to the sum of (x) the total net proceeds from the Initial
Placement (before deducting expenses) as set forth on the cover page of the
Final Memorandum and (y) the total amount of additional interest which the
Issuers were not required to pay as a result of registering the securities
covered by the Registration Statement which resulted in such Losses. Benefits
received by the Initial Purchasers shall be deemed to be equal to the total
purchase discounts and commissions as set forth on the cover page of the Final
Memorandum, and benefits received by any other Holders shall be deemed to be
equal to the value of receiving Securities or Exchange Securities, as
applicable, registered under the Act. Benefits received by any underwriter shall
be deemed to be equal to the total underwriting discounts and commissions, as
set forth on the cover page of the Prospectus forming a part of the Registration
Statement which resulted in such Losses. Relative fault shall be determined by
reference to, among other things, whether any untrue or alleged untrue statement
of or omission or alleged omission to state a material fact relates to
information provided by the indemnifying party, on the one hand, or by the
indemnified party, on the other hand, the intent of the parties and their
relative knowledge, access to information and opportunity to correct or prevent
such untrue statement or omission. The parties agree that it would not be just
and equitable if contribution were determined by pro rata allocation (even if
the Holders were treated as one entity for such purpose) or any other method of
allocation which does not take account of the equitable considerations referred
to above. Notwithstanding the provisions of this paragraph (d), no Person guilty
of fraudulent misrepresentation (within the meaning of Section 11(f) of the Act)
shall be entitled to contribution from any Person who was not guilty of such
fraudulent misrepresentation. For purposes of this Section 6, each Person who
controls a Holder within the meaning of either the Act or the Exchange Act and
each director, officer, employee and agent of such Holder shall have the same
rights to contribution as such Holder, and each Person who controls any Issuer
within the meaning of either the Act or the Exchange Act, each officer of any
Issuer who shall have signed the Registration Statement and each director

<PAGE>

                                      -22-

of any Issuer shall have the same rights to contribution as the Issuers, subject
in each case to the applicable terms and conditions of this paragraph (d).

            (e)   The provisions of this Section will remain in full force and
effect, regardless of any investigation made by or on behalf of any Holder or
the Issuers or any of the officers, directors or controlling Persons referred to
in this Section 6, and will survive the sale by a Holder of securities covered
by a Registration Statement.

            7.    Underwritten Registrations. (a) If any of the Securities
or Exchange Securities, as the case may be, covered by any Shelf Registration
Statement are to be sold in an underwritten offering, the Managing Underwriters
shall be selected by the Majority Holders and shall be reasonably acceptable to
the Company.

            (b)   No Person may participate in any underwritten offering
pursuant to any Shelf Registration Statement, unless such Person (i) agrees to
sell such Person's Securities or Exchange Securities, as the case may be, on the
basis reasonably provided in any underwriting arrangements approved by the
Persons entitled hereunder to approve such arrangements; and (ii) completes and
executes all questionnaires, powers of attorney, indemnities, underwriting
agreements and other documents reasonably required under the terms of such
underwriting arrangements.

            8.    No Inconsistent Agreements. No Issuer has, as of the date
hereof, entered into, nor shall it, on or after the date hereof, enter into, any
agreement with respect to its securities that is inconsistent with the rights
granted to the Holders herein or otherwise conflicts with the provisions hereof.

            9.    Amendments and Waivers. The provisions of this Agreement,
including the provisions of this sentence, may not be amended, qualified,
modified or supplemented, and waivers or consents to departures from the
provisions hereof may not be given, unless the Issuers have obtained the written
consent of the Majority Holders; provided that, with respect to any matter that
directly or indirectly affects the rights of any Initial Purchaser hereunder,
the Issuers shall obtain the written consent of each such Initial Purchaser
against which such amendment, qualification, supplement, waiver or consent is to
be effective. Notwithstanding the foregoing (except the foregoing proviso), a
waiver or consent to departure from the provisions hereof with respect to a
matter that relates exclusively to the rights of Holders whose Securities or
Exchange Securities, as the case may be, are being sold pursuant to a
Registration Statement and that does not directly or indirectly affect the
rights of other Holders may be given by the Majority Holders, determined on the
basis of Securities or Exchange Securities, as the case may be, being sold
rather than registered under such Registration Statement.

<PAGE>

                                      -23-

            10.   Notices. All notices and other communications provided for or
permitted hereunder shall be made in writing by hand-delivery, first-class mail,
telex, telecopier, facsimile or air courier guaranteeing overnight delivery:

            (a)   if to a Holder, at the most current address given by such
      Holder to the Issuers in accordance with the provisions of this Section
      10, which address initially is, with respect to each Holder, the address
      of such Holder maintained by the Registrar under the Indenture, with a
      copy in like manner to Citigroup Global Markets Inc.;

            (b)   if to you, initially at the respective addresses set forth in
      the Purchase Agreement; and

            (c)   if to the Issuers, initially at their address set forth in the
      Purchase Agreement.

            All such notices and communications shall be deemed to have been
duly given when received.

            The Initial Purchasers or the Issuers by notice to the other parties
may designate additional or different addresses for subsequent notices or
communications.

            11.   Successors. This Agreement shall inure to the benefit of and
be binding upon the successors and assigns of each of the parties hereto,
including, without the need for an express assignment or any consent by the
Issuers thereto, subsequent Holders of Securities and the Exchange Securities;
provided that nothing herein shall be deemed to permit any assignment, transfer
or other disposition of the Securities or Exchange Securities in violation of
the terms of the Purchase Agreement or the Indenture. The Issuers hereby agree
to extend the benefits of this Agreement to any Holder of Securities or the
Exchange Securities, and any such Holder may specifically enforce the provisions
of this Agreement as if an original party hereto.

            12.   Counterparts. This Agreement may be signed in counterparts,
each of which shall be an original and all of which together shall constitute
one and the same agreement.

            13.   Headings. The headings used herein are for convenience only
and shall not affect the construction hereof.

            14.   Applicable Law. This Agreement shall be governed by and
construed in accordance with the laws of the State of New York applicable to
contracts made and to be performed in the State of New York.

<PAGE>

                                      -24-

            15.   Severability. In the event that any one or more of the
provisions contained herein, or the application thereof in any circumstances, is
held invalid, illegal or unenforceable in any respect for any reason, the
validity, legality and enforceability of any such provision in every other
respect and of the remaining provisions hereof shall not be in any way impaired
or affected thereby, it being intended that all of the rights and privileges of
the parties shall be enforceable to the fullest extent permitted by law.

            16.   Securities Held by the Issuers, etc. Whenever the consent or
approval of Holders of a specified percentage of principal amount of Securities
or Exchange Securities is required hereunder, Securities or Exchange Securities,
as applicable, held by any Issuer or its Affiliates (other than subsequent
Holders of Securities or Exchange Securities if such subsequent Holders are
deemed to be Affiliates solely by reason of their holdings of such Securities or
Exchange Securities) shall not be counted in determining whether such consent or
approval was given by the Holders of such required percentage.

            17.   Agent for Service; Submission to Jurisdiction; Waiver of
Immunities. By the execution and delivery of this Agreement, each Issuer (i)
acknowledges that such Issuer has, by separate written instrument, irrevocably
designated and appointed CT Corporation, 111 Eighth Avenue, 13th Floor, New
York, New York 10011 (and any successor entity), as its authorized agent upon
which process may be served in any suit or proceeding arising out of or relating
to this Agreement, the Securities or the Exchange Securities that may be
instituted in any federal or state court in the State of New York or brought
under Federal or state securities laws, and acknowledges that CT Corporation has
accepted such designation, (ii) submits to the jurisdiction of any such court in
any such suit or proceeding, and (iii) agrees that service of process upon CT
Corporation and written notices of said service to such Issuer in accordance
with Section 10 hereof shall be deemed effective service of process upon it in
any such suit or proceeding. Each Issuer further agrees to take any reasonable
action, including the execution and filing of any and all such documents and
instruments, as may be necessary to continue such designation and appointment of
CT Corporation in full force and effect so long as any of the Securities shall
be outstanding; provided, however, that such Issuer may, by written notice to
the Representatives, designate such additional or alternative agent for service
of process under this Section 17 that (i) maintains an office located in the
Borough of Manhattan, City of New York in the State of New York and (ii) is
either (x) counsel for such Issuer or (y) a corporate service company which acts
as agent for service of process for other persons in the ordinary course of its
business. Such written notice shall identify the name of such agent for process
and the address of the office of such agent for process in the Borough of
Manhattan, City of New York, State of New York.

            To the extent that any Issuer has or hereafter may acquire any
immunity from jurisdiction of any court or from any legal process with respect
to itself or its property, it hereby irrevocably waives such immunity in respect
of its obligations under each of this

<PAGE>

                                      -25-

Agreement, the Securities and the Exchange Securities. In addition, each Issuer
irrevocably waives and agrees not to assert, by way of motion, as a defense, or
otherwise in any such suit, action or proceeding, any claim that it is not
personally subject to the jurisdiction of the above-mentioned courts for any
reason whatsoever, that such suit, action or proceeding is brought in an
inconvenient forum or that the venue for such suit is improper, or that this
Agreement, the Securities or the Exchange Securities or the subject matter
hereof or thereof may not be enforced in such courts.

            The Issuers and the Initial Purchasers agree that a final judgment
in any such suit, action or proceeding shall be conclusive and may be enforced
in other jurisdictions by suit on the judgment or in any other manner provided
by law. Nothing in this Section 17 shall affect the right of the Trustee to
serve legal process in any other manner permitted by law or affect the right of
the Trustee to bring any action or proceeding against any Issuer or its property
in the courts of any other jurisdictions.

            18.   Judgment Currency. The Issuers, jointly and severally, agree
to indemnify and hold harmless each Holder (including each Initial Purchaser and
each Affiliate thereof and, with respect to any Prospectus delivery as
contemplated by Section 4(h) hereof, each Exchanging Dealer), the directors,
officers, employees and agents of each such Holder and each Person who controls
any such Holder within the meaning of either the Act or the Exchange Act against
any loss incurred by such indemnified party as a result of any judgment or order
being given or made in favor of such indemnified party for any amount due under
this Agreement and such judgment or order being expressed and paid in a currency
(the "Judgment Currency") other than United States dollar and as a result of any
variation as between (i) the rate of exchange at which the United States dollar
amount is converted into the Judgment Currency for the purpose of such judgment
or order and (ii) the spot rate of exchange in The City of New York at which
such indemnified party on the date of payment of such judgment or order is able
to purchase United States dollars with the amount of the Judgment Currency
actually received by such indemnified party. The foregoing indemnity shall
continue in full force and effect notwithstanding any such judgment or order as
aforesaid. The term "spot rate of exchange" shall include any premiums and costs
of exchange payable in connection with the purchase of, or conversion into,
United States dollars.

<PAGE>

            If the foregoing is in accordance with your understanding of our
agreement, please sign and return to us the enclosed duplicate hereof, whereupon
this Agreement and your acceptance shall represent a binding agreement among the
Issuers and the several Initial Purchasers.

                                          Very truly yours,

                                          CASE NEW HOLLAND INC.

                                          By: /s/ Roberto Miotto
                                              ----------------------------------
                                              Name: Roberto Miotto
                                              Title: Senior Vice President and
                                                     General Counsel

<PAGE>

                                GUARANTORS:

                                CNH GLOBAL N.V.

                                By: /s/ Paolo Monferino
                                    --------------------------------------------
                                    Name: Paolo Monferino
                                    Title: President and Chief Executive Officer

                                Attest:

                                By: /s/ Roberto Miotto
                                    --------------------------------------------
                                    Name: Roberto Miotto
                                    Title: Secretary

                                CNH U.K. LIMITED

                                By: /s/ Alan Lines
                                    --------------------------------------------
                                    Name: Alan Lines
                                    Title: Managing Director

                                Attest:

                                By: /s/ Charles DeAlwis
                                    --------------------------------------------
                                    Name: Charles DeAlwis
                                    Title: Secretary

                                NEW HOLLAND HOLDING LIMITED

                                By: /s/ Roberto Miotto
                                    --------------------------------------------
                                    Name: Roberto Miotto
                                    Title: Director

                                Attest:

                                By: /s/ William Davis
                                    --------------------------------------------
                                    Name: William Davis
                                    Title: Secretary

<PAGE>

                                      -2-

                                CNH CANADA, LTD.

                                By: /s/ Michel Lecomte
                                    --------------------------------------------
                                    Name: Michel Lecomte
                                    Title: President

                                Attest:

                                By: /s/ Darlene M. Roback
                                    ---------------------------------------
                                    Name: Darlene M. Roback
                                    Title: Assistant Secretary

                                CNH AUSTRALIA PTY LTD

                                By: /s/ Stuart Redman
                                    --------------------------------------------
                                    Name: Stuart Redman
                                    Title: Director

                                Attest:

                                By: /s/ Peter Malecki
                                    --------------------------------------------
                                    Name: Peter Malecki
                                    Title: Legal Counsel

                                CNH BELGIUM N.V.

                                By: /s/ Anna Mangelschots /s/ Norbert Benoot
                                    --------------------------------------------
                                    Name: Anna Mangelschots - Norbert Benoot
                                    Title: Director           Director

                                Attest:

                                By: /s/ [illegible]
                                    --------------------------------------------
                                    Name: [illegible]
                                    Title: [illegible]

<PAGE>

                                       -3-

                                NEW HOLLAND TRACTOR LIMITED N.V.

                                By: /s/ Jean Pierre Van Damme /s/ Guy Adams
                                    --------------------------------------------
                                    Name: Jean Pierre Van Damme - Guy Adams
                                    Title: Managing Director - Director

                                Attest:

                                By: /s/ Francine Vloeberghs
                                    --------------------------------------------
                                    Name: Francine Vloeberghs
                                    Title: Assistant Secretary

                                CNH DEUTSCHLAND GMBH

                                By: /s/ P. Seidl /s/ Paolo Castagna
                                    --------------------------------------------
                                    Name: P. Seidl - Paolo Castagna
                                    Title: Managing Directors

                                Attest:

                                By: /s/ G. Stoldt /s/ Halti [illegible]
                                    --------------------------------------------
                                    Name: G. Stoldt - Halti [illegible]
                                    Title: Assistant - Counsel

                                CNH TRADE N.V.

                                By: /s/ Claudio Raimondo
                                    --------------------------------------------
                                    Name: Claudio Raimondo
                                    Title: Manager

                                Attest:

                                By: /s/ Rolando Nijs
                                    --------------------------------------------
                                    Name: Rolando Nijs
                                    Title: Director

<PAGE>

                                       -4-

                                FIATALLIS NORTH AMERICA, INC.

                                By: /s/ James E. McCullough
                                    --------------------------------------------
                                    Name: James E. McCullough
                                    Title: Chairman and President

                                Attest:

                                By: /s/ Dudley H. Feltham
                                    --------------------------------------------
                                    Name: Dudley H. Feltham
                                    Title: Assistant Secretary

                                CASE, LLC

                                By: /s/ Paolo Monferino
                                    --------------------------------------------
                                    Name: Paolo Monferino
                                    Title: President and Chief Executive Officer

                                Attest:

                                By: /s/ Roberto Miotto
                                    --------------------------------------------
                                    Name: Roberto Miotto
                                    Title: Secretary

                                HFI HOLDINGS, INC.

                                By: /s/ Michel Lecomte
                                    --------------------------------------------
                                    Name: Michel Lecomte
                                    Title: President and Chief Financial Officer

                                Attest:

                                By: /s/ Darlene M. Roback
                                    --------------------------------------------
                                    Name: Darlene M. Roback
                                    Title: Assistant Secretary

<PAGE>

                                      -5-

                                CNH INFORMATION TECHNOLOGY COMPANY LLC

                                By: /s/ James E. McCullough
                                    --------------------------------------------
                                    Name: James E. McCullough
                                    Title: President and Chief Executive Officer

                                Attest:

                                By: /s/ Darlene M. Roback
                                    --------------------------------------------
                                    Name: Darlene M. Roback
                                    Title: Assistant Secretary

                                NEW HOLLAND NORTH AMERICA, INC.

                                By: /s/ Roberto Miotto
                                    --------------------------------------------
                                    Name: Roberto Miotto
                                    Title: Sr. VP, General Counsel & Secretary

                                Attest:

                                By: /s/ Darlene M. Roback
                                    --------------------------------------------
                                    Name: Darlene M. Roback
                                    Title: Assistant Secretary

                                BLI GROUP, INC.

                                By: /s/ Roberto Miotto
                                    --------------------------------------------
                                    Name: Roberto Miotto
                                    Title: Chief Executive Officer

                                Attest:

                                By: /s/ Darlene M. Roback
                                    --------------------------------------------
                                    Name: Darlene M. Roback
                                    Title: Assistant Secretary

<PAGE>

                                       -6-

                                BLUE LEAF I.P., INC.

                                By: /s/ Roberto Miotto
                                    --------------------------------------------
                                    Name: Roberto Miotto
                                    Title: Chief Executive Officer

                                Attest:

                                By: /s/ Darlene M. Roback
                                    --------------------------------------------
                                    Name: Darlene M. Roback
                                    Title: Assistant Secretary

<PAGE>

The foregoing Agreement is hereby confirmed and accepted as of the date first
above written.

CITIGROUP GLOBAL MARKETS INC.
DEUTSCHE BANK SECURITIES INC.
UBS SECURITIES LLC

By: Citigroup Global Markets Inc.

      By: /s/ Michael Ford
          ---------------------
          Name: Michael Ford
          Title: Vice President

For themselves and the other several Initial Purchasers named in Schedule I to
the foregoing Agreement.

<PAGE>

                                                                      SCHEDULE I

Initial Purchasers:
Citigroup Global Markets Inc.
Deutsche Bank Securities Inc.
UBS Securities LLC
ABN AMRO Incorporated
Banc of America Securities LLC
BNP Paribas Securities Corp.
J.P. Morgan Securities Inc.
Merrill Lynch, Pierce, Fenner & Smith
          Incorporated
SG Cowen Securities Corporation

<PAGE>

                                                                         ANNEX A

            Each Broker-Dealer that receives Exchange Securities for its own
account pursuant to the Exchange Offer must acknowledge that it will deliver a
prospectus in connection with any resale of such Exchange Securities. The Letter
of Transmittal states that by so acknowledging and by delivering a prospectus, a
Broker-Dealer will not be deemed to admit that it is an "underwriter" within the
meaning of the Act. This Prospectus, as it may be amended or supplemented from
time to time, may be used by a Broker-Dealer in connection with resales of
Exchange Securities received in exchange for Securities where such Securities
were acquired by such Broker-Dealer as a result of market-making activities or
other trading activities. The Issuers have agreed that, starting on the
Expiration Date (as defined herein) and ending on the close of business one year
after the Expiration Date, they will make this Prospectus available to any
Broker-Dealer for use in connection with any such resale. See "Plan of
Distribution".

<PAGE>

                                                                         ANNEX B

            Each Broker-Dealer that receives Exchange Securities for its own
account in exchange for Securities, where such Securities were acquired by such
Broker-Dealer as a result of market-making activities or other trading
activities, must acknowledge that it will deliver a prospectus in connection
with any resale of such Exchange Securities. See "Plan of Distribution".

<PAGE>

                                                                         ANNEX C

                              PLAN OF DISTRIBUTION

            Each Broker-Dealer that receives Exchange Securities for its own
account pursuant to the Exchange Offer must acknowledge that it will deliver a
prospectus in connection with any resale of such Exchange Securities. This
Prospectus, as it may be amended or supplemented from time to time, may be used
by a Broker-Dealer in connection with resales of Exchange Securities received in
exchange for Securities where such Securities were acquired as a result of
market-making activities or other trading activities. The Issuers have agreed
that, starting on the Expiration Date and ending on the close of business [one
year] after the Expiration Date, they will make this Prospectus, as amended or
supplemented, available to any Broker-Dealer for use in connection with any such
resale. In addition, until __________, 200__, all dealers effecting transactions
in the Exchange Securities may be required to deliver a prospectus.

            The Issuers will not receive any proceeds from any sale of Exchange
Securities by Brokers-Dealers. Exchange Securities received by Broker-Dealers
for their own account pursuant to the Exchange Offer may be sold from time to
time in one or more transactions in the over-the-counter market, in negotiated
transactions, through the writing of options on the Exchange Securities or a
combination of such methods of resale, at market prices prevailing at the time
of resale, at prices related to such prevailing market prices or negotiated
prices. Any such resale may be made directly to purchasers or to or through
brokers or dealers who may receive compensation in the form of commissions or
concessions from any such Broker-Dealer and/or the purchasers of any such
Exchange Securities. Any Broker-Dealer that resells Exchange Securities that
were received by it for its own account pursuant to the Exchange Offer and any
broker or dealer that participates in a distribution of such Exchange Securities
may be deemed to be an "underwriter" within the meaning of the Act and any
profit of any such resale of Exchange Securities and any commissions or
concessions received by any such Persons may be deemed to be underwriting
compensation under the Act. The Letter of Transmittal states that by
acknowledging that it will deliver and by delivering a prospectus, a
Broker-Dealer will not be deemed to admit that it is an "underwriter" within the
meaning of the Act.

            For a period of one year after the Expiration Date, the Issuers will
promptly send additional copies of this Prospectus and any amendment or
supplement to this Prospectus to any Broker-Dealer that requests such documents
in the Letter of Transmittal. The Issuers have agreed to pay all expenses
incident to the Exchange Offer (including the expenses of one counsel for the
holder of the Securities) other than commissions or concessions of any brokers
or dealers and will indemnify the holders of the Securities (including any
Broker-Dealers) against certain liabilities, including liabilities under the
Act.

            [If applicable, add information required by Regulation S-K Items 507
and/or 508.]

<PAGE>

                                                                         ANNEX D

            CHECK HERE IF YOU ARE A BROKER-DEALER AND WISH TO RECEIVE 10
            ADDITIONAL COPIES OF THE PROSPECTUS AND 10 COPIES OF ANY
            AMENDMENTS OR SUPPLEMENTS THERETO.

            Name:_____________________
            Address:__________________
                    __________________

If the undersigned is not a Broker-Dealer, the undersigned represents that it
acquired the Exchange Securities in the ordinary course of its business, it is
not engaged in, and does not intend to engage in, a distribution of Exchange
Securities and it has no arrangements or understandings with any Person to
participate in a distribution of the Exchange Securities. If the undersigned is
a Broker-Dealer that will receive Exchange Securities for its own account in
exchange for Securities, it represents that the Securities to be exchanged for
Exchange Securities were acquired by it as a result of market-making activities
or other trading activities and acknowledges that it will deliver a prospectus
in connection with any resale of such Exchange Securities; however, by so
acknowledging and by delivering a prospectus, the undersigned will not be deemed
to admit that it is an "underwriter" within the meaning of the Act.

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