Document:

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                                                                   Exhibit 10.13

                    1998 MOODY'S CORPORATION REPLACEMENT PLAN
           FOR CERTAIN NON-EMPLOYEE DIRECTORS HOLDING DUN & BRADSTREET
                         CORPORATION EQUITY-BASED AWARDS
              (as amended and restated as of the Distribution Date)

1.       PURPOSE OF THE PLAN

         The purpose of the 1998 Moody's Replacement Plan for Certain
Non-employee Directors Holding Dun & Bradstreet Corporation Equity-Based Awards
(the "Plan") is to provide for the award of substantially identical replacement
stock options, replacement restricted stock, replacement phantom stock units and
replacement deferred performance share units to certain non-employee directors
of The New Dun & Bradstreet Corporation, a Delaware corporation to be renamed
"The Dun & Bradstreet Corporation" after the Spinoff, to be renamed "Moody's
Corporation" after the Distribution Date (the "Company") whose awards under the
1996 The Dun & Bradstreet Corporation Non-Employee Directors' Stock Incentive
Plan and The Dun & Bradstreet Corporation Non-Employee Directors' Restricted
Stock Plan (the "D&B Plans") were cancelled pursuant to the spinoff of the
Company from The Dun & Bradstreet Corporation, a Delaware corporation to be
renamed "R.H. Donnelley Corporation" after the Spinoff ("D&B") (the "Spinoff")
and to certain retired non-employee directors who elect, pursuant to the
Spinoff, to have the awards granted under the D&B Plans cancelled (the "Eligible
Holders"). The Company expects that the Plan will aid the Company in attracting,
retaining and compensating non-employee Directors and to enable them to increase
their ownership of Shares. The Plan will be beneficial to the Company and its
shareholders since it will allow non-employee Directors to have a greater
personal financial stake in the Company through the ownership of Shares, in
addition to underscoring their common interest with shareholders in increasing
the value of the Shares on a long-term basis. It is the intention of the Company
that the terms of the replacement awards will (i) substantially preserve the
economic value of the cancelled D&B awards and (ii) except for the terms
described in Section 7, 8, 9 and 10 of this Plan, remain substantially identical
to the terms of the cancelled D&B awards. As a result of the distribution of the
shares of New D&B (as defined below) owned by the Company to the holder of
record of Shares, the Company has amended and restated the Plan as of the
Distribution Date (as defined below)

2.       DEFINITIONS

         The following capitalized terms used in the Plan have the respective
meanings set forth in this Section:

                  (a) Act: The Securities Exchange Act of 1934, as amended, or
         any successor thereto.

                  (b) Awards: Replacement options, replacement restricted stock
         and replacement phantom stock units granted pursuant to the Plan.

                  (c) Beneficial Owner: As defined in rule 13d-3 under the Act
         (or any successor rule thereto).

                  (d) Board: The Board of Directors of the Company.
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                  (e) Change in Control: The occurrence of any of the following
         events:

                                    (i) any "Person," as such term is used in
                           Sections 13(d) and 14(d) of the Act, (other than the
                           Company, any trustee or other fiduciary holding
                           securities under an employee benefit plan of the
                           Company, or any corporation owned, directly or
                           indirectly, by the shareholders of the Company in
                           substantially the same proportions as their ownership
                           of stock of the Company), is or becomes the
                           Beneficial Owner, directly or indirectly, of
                           securities of the Company representing 20% or more of
                           the combined voting power of the Company's then
                           outstanding securities;

                                    (ii) during any period of twenty-four months
                           (not including any period prior to the Distribution
                           Date), individuals who at the beginning of such
                           period constitute the Board, and any new Director
                           (other than (1) a Director designated by a person who
                           has entered into an agreement with the Company to
                           effect a transaction described in clause (i), (iii)
                           or (iv) of this Section, (2) a Director designated by
                           any Person (including the Company) who publicly
                           announces an intention to take or to consider taking
                           actions (including, but not limited to, an actual or
                           threatened proxy contest) which if consummated would
                           constitute a Change in Control or (3) a Director
                           designated by any Person who is the Beneficial Owner,
                           directly or indirectly, of securities of the Company
                           representing 10% or more of the combined voting power
                           of the Company's securities) whose election by the
                           Board or nomination for election by the Company's
                           shareholders was approved by a vote of at least
                           two-thirds (2/3) of the Directors then still in
                           office who either were Directors at the beginning of
                           the period or whose election or nomination for
                           election was previously so approved cease for any
                           reason to constitute at least a majority thereof;

                                    (iii) the shareholders of the Company
                           approve a merger or consolidation of the Company with
                           any other corporation, other than (1) a merger or
                           consolidation which would result in the voting
                           securities of the Company outstanding immediately
                           prior thereto continuing to represent (either by
                           remaining outstanding or by being converted into
                           voting securities of the surviving entity) more than
                           50% of the combined voting power of the voting
                           securities of the Company or such surviving entity
                           outstanding immediately after such merger or
                           consolidation and (2) after which no Person holds 20%
                           or more of the combined voting power of the then
                           outstanding securities of the Company or such
                           surviving entity; or

                                    (iv) the shareholders of the Company approve
                           a plan of complete liquidation of the Company or an
                           agreement for the sale or disposition by the Company
                           of all or substantially all of the Company's assets.

                  (f) Code: The Internal Revenue Code of 1986, as amended, or
         any successor thereto.

                  (g) Committee: The Compensation and Benefits Committee of the
         Board.
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                  (h) Company: The New Dun & Bradstreet Corporation, a Delaware
         corporation to be renamed "The Dun & Bradstreet Corporation" after the
         Spinoff, to be renamed "Moody's Corporation" following the Distribution
         Date.

                  (i) D&B Deferred Performance Share Units: A bookkeeping entry,
         equivalent in value to the number of deferred performance shares of D&B
         stock credited to an Eligible Holder's account as of the opening of
         business on the Spinoff Date, pursuant to the D&B Plans.

                  (j) D&B Restricted Stock: Restricted stock held by an Eligible
         Holder that was granted under the D&B Plans.

                  (k) D&B Phantom Stock Units: A bookkeeping entry, equivalent
         in value to the number of phantom shares of D&B stock credited to an
         Eligible Holder's account as of the opening of business on the Spinoff
         Date, pursuant to the D&B Plans.

                  (l) Daily Average Trading Prices: The average of the high and
         low trading prices for stock on a given day.

                  (m) Deferred Performance Share Unit: A bookkeeping entry,
         equivalent in value to one Share, credited in accordance with Section
         10 of the Plan.

                  (n) Determination Day: As such term is defined in Section 9(b)
         of the Plan.

                  (o) Disability: Inability to continue to serve as a
         non-employee Director due to a medically determinable physical or
         mental impairment which constitutes a permanent and total disability,
         as determined by the Committee (excluding any member thereof whose own
         Disability is at issue in a given case) based upon such evidence as it
         deems necessary and appropriate; provided, however, that following the
         Distribution Date, the Disability of a New D&B Director shall be
         determined by the New D&B Committee (excluding any member thereof whose
         own Disability is at issue in a given case). An Eligible Holder shall
         not be considered disabled unless he or she furnished such medical or
         other evidence of the existence of the Disability as the Committee or
         the New D&B Committee, as the case may be, in its sole discretion, may
         require.

                  (p) Distribution Date: The date on which the shares of New D&B
         that are owned by the Company are distributed to the holders of record
         of shares of the Company.

                  (q) Effective Date: The date on which the Plan takes effect,
         as defined pursuant to Section 15 of the Plan.

                  (r) Fair Market Value: On a given date, the average of the
         high and low prices of the Shares as reported on such date on the
         Composite Tape of the principal national securities exchange on which
         such Shares are listed or admitted to trading, or, if no Composite Tape
         exists for such national securities exchange on such date, then on the
         principal national securities exchange on which such Shares are listed
         or admitted to trading, or, if the Shares are not listed or admitted on
         a national securities exchange, the average of the per Share closing
         bid price and per Share closing asked price on such date as quoted on
         the National association of Securities Dealers Automated Quotation
         System
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         (or such market in which such prices are regularly quoted), or, if
         there is no market on which the Shares are regularly quoted, the Fair
         Market Value shall be the value established by the Committee in good
         faith. If no sale of Shares shall have been reported on such Composite
         Tape or such national securities Exchange on such date or quoted on the
         National Association of Securities Dealers Automated Quotation System
         on such date, then the immediately preceding date on which sales of the
         Shares have been so reported or quoted shall be used.

                  (s) New D&B: The New D&B Corporation, a Delaware corporation,
         to be renamed "The Dun & Bradstreet Corporation" following the
         Distribution Date.

                  (t) New D&B Board: The Board of Directors of New D&B.

                  (u) New D&B Change in Control: The occurrence of any of the
         following events:

                                    (i) any "Person," as such term is used in
                           Sections 13(d) and 14(d) of the Act, (other than New
                           D&B, any trustee or other fiduciary holding
                           securities under an employee benefit plan of New D&B,
                           or any corporation owned, directly or indirectly, by
                           the shareholders of New D&B in substantially the same
                           proportions as their ownership of stock of New D&B),
                           is or becomes the Beneficial Owner, directly or
                           indirectly, of securities of New D&B representing 20%
                           or more of the combined voting power of New D&B's
                           then outstanding securities;

                                    (ii) during any period of twenty-four months
                           (not including any period prior to the Distribution
                           Date), individuals who at the beginning of such
                           period constitute the New D&B Board, and any new
                           Director (other than (1) a Director designated by a
                           person who has entered into an agreement with New D&B
                           to effect a transaction described in clause (i),
                           (iii) or (iv) of this Section, (2) a Director
                           designated by any Person (including New D&B) who
                           publicly announces an intention to take or to
                           consider taking actions (including, but not limited
                           to, an actual or threatened proxy contest) which if
                           consummated would constitute a Change in Control or
                           (3) a Director designated by any Person who is the
                           Beneficial Owner, directly or indirectly, of
                           securities of New D&B representing 10% or more of the
                           combined voting power of New D&B's securities) whose
                           election by the New D&B Board or nomination for
                           election by New D&B's shareholders was approved by a
                           vote of at least two-thirds (2/3) of the Directors
                           then still in office who either were Directors at the
                           beginning of the period or whose election or
                           nomination for election was previously so approved
                           cease for any reason to constitute at least a
                           majority thereof;

                                    (iii) the shareholders of New D&B approve a
                           merger or consolidation of New D&B with any other
                           corporation, other than (1) a merger or consolidation
                           which would result in the voting securities of New
                           D&B outstanding immediately prior thereto continuing
                           to represent (either by remaining outstanding or by
                           being converted into voting
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                           securities of the surviving entity) more than 50% of
                           the combined voting power of the voting securities of
                           New D&B or such surviving entity outstanding
                           immediately after such merger or consolidation and
                           (2) after which no Person holds 20% or more of the
                           combined voting power of the then outstanding
                           securities of New D&B or such surviving entity; or

                                    (iv) the shareholders of New D&B approve a
                           plan of complete liquidation of New D&B or an
                           agreement for the sale or disposition by New D&B of
                           all or substantially all of New D&B's assets.

                  (v) New D&B Committee: The Compensation and Benefits Committee
         of the New D&B Board, or any successor thereto or other committee
         designated.

                  (w) New D&B Deferred Performance Share Units: A bookkeeping
         entry, equivalent in value to the number of phantom performance shares
         credited to an Eligible Holder's account as a dividend on such Eligible
         Holder's D&B Deferred Performance Share Units pursuant to the Spinoff.

                  (x) New D&B Director: A Participant who is a director of New
         D&B immediately following the Distribution Date.

                  (y) New D&B Restricted Stock: Restricted Stock received by an
         Eligible Holder as a result of the Spinoff.

                  (z) New D&B Phantom Stock Units: A bookkeeping entry,
         equivalent in value to the number of phantom Shares credited to an
         Eligible Holder's account as a dividend on such Eligible Holder's D&B
         Phantom Stock Units pursuant to the Spinoff.

                  (aa) Option: A stock option granted pursuant to Section 7 of
         the Plan.

                  (bb) Payment Day: As such term is defined in Section 9(b) of
         the Plan.

                  (cc) Person: As such term is used in Section 13(d) or 14(d) of
         the Act (or any successor section thereto).

                  (dd) Phantom Stock Unit: A bookkeeping entry, equivalent in
         value to one Share, credited in accordance with Section 9(a) of the
         Plan.

                  (ee) Plan: The 1998 Dun & Bradstreet Corporation Replacement
         Plan for Certain Non-Employees Directors Holding Dun & Bradstreet
         Corporation Equity-Based Awards, as amended and restated.

                  (ff) Retirement: Termination of Service after such Eligible
         Holder has attained age 70, regardless of the length of such Eligible
         Holder's service.

                  (gg) Shares: Shares of common stock, par value $.01 per share,
         of the Company.

                  (hh) Spinoff Date: The date on which the Shares are first
         distributed to the public shareholders.
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                  (ii) Subsidiary: A subsidiary corporation, as defined in
         Section 424(f) of the Code (or any successor section thereto).

                  (jj) Termination of Service: An Eligible Holder's termination
         of service with the Company; provided, however, that following the
         Distribution Date, a New D&B Director's termination of service shall be
         based on his or her termination of service with New D&B.

                  (kk) Termination Date: As such term is defined in Section 9(b)
         of the Plan.

3.       SHARES SUBJECT TO THE PLAN

         The total number of Shares which may be issued under the Plan is equal
to the aggregate number of shares to be issued as replacement awards, as
calculated pursuant to Sections 7, 8 and 10 of this Plan. The shares may
consist, in whole or in part, of unissued shares or treasury shares. After the
initial grant of awards, no further awards shall be granted under the Plan.

4.       ADMINISTRATION

         The Plan shall be administered by the Committee, which may delegate its
duties and powers in whole or in part to any subcommittee thereof consisting
solely of at least two "non-employee directors" within the meaning of Rule 16b-3
under the act (or any successor rule thereto); provided, however, that any
action permitted to be taken by the Committee may be taken by the Board, in its
discretion. The Committee is authorized to interpret the Plan, to establish,
amend and rescind any rules and regulations relating to the Plan, and to make
any other determinations that it deems necessary or desirable for the
administration of the Plan. The Committee may correct any defect or supply any
omission or reconcile any inconsistency in the Plan in the manner and to the
extent the Committee deems necessary or desirable. Any decision of the Committee
in the interpretation and administration of the Plan, as described herein, shall
lie within its sole and absolute discretion and shall be final, conclusive and
binding on all parties concerned (including, but not limited to, Eligible
Holders and their beneficiaries or successors).

5.       ELIGIBILITY

         Only Eligible Holders shall receive grants of replacement stock
options, replacement restricted stock, replacement phantom stock units and
replacement deferred performance share units under the Plan.

6.       LIMITATIONS

         Options hereunder shall only be granted in replacement of D&B Stock
Options (as defined in Section 7(a) of the Plan) held by Eligible Holders
immediately prior to the Spinoff Date.

7.       TERMS AND CONDITIONS OF OPTIONS

         Options granted under the Plan shall be non-qualified stock options for
federal income tax purposes, as evidenced by the related Option agreements, and
shall be subject to the
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foregoing and the following terms and conditions and to such other terms and
conditions, not inconsistent therewith, as the Committee shall determine:

                  (a) Generally. As of the Spinoff, each unexercised stock
         option held by an Eligible Holder that was granted under the D&B Plans
         (a "D&B Stock Option") shall be cancelled, and such Eligible Holder
         shall receive a replacement stock option pursuant to this Plan. The
         number of Shares covered by each replacement stock option shall be
         determined by (i) multiplying the number of shares of D&B common stock
         covered by the cancelled D&B Stock Option by a fraction, the numerator
         of which is the average of the Daily Average Trading Prices of D&B
         common stock for the five consecutive trading days immediately
         preceding the first date on which D&B common stock is traded
         ex-dividend, and the denominator of which is the average of the Daily
         Average Trading Prices of the Shares for the five consecutive trading
         days starting on the first date on which the Shares are traded regular
         way (the "D&B Ratio") and (ii) rounding down the result to a whole
         number of shares. The option price of each replacement stock option
         shall be determined by dividing the option price of the cancelled D&B
         Stock Option by the D&B Ratio. Unless otherwise specified in this Plan,
         all other terms of the replacement stock options shall remain
         substantially identical to those of the cancelled D&B Stock Options as
         set forth in the D&B Plans and related option agreement(s).

                  (b) Exercisability. Except as set forth in the Plan, stock
         options granted under the Plan shall have substantially identical terms
         as those of the stock options originally granted under the D&B Plans;
         provided, however, that in no event shall a replacement stock option be
         exercisable more than ten years after the date the original option was
         granted under the D&B Plans.

                  (c) Exercisability of Options. An Option granted under the
         Plan shall be fully exercisable on the first anniversary of the date on
         which the original option was granted under the D&B Plans. An Option
         shall expire on the tenth anniversary of the date on which the original
         option was granted under the D&B Plans.

                  (d) Exercise of Options. Except as otherwise provided in the
         Plan or in a related Option agreement, an Option may be exercised for
         all, or from time to time any part, of the Shares for which it is then
         exercisable. The purchase price for the Shares as to which an option is
         exercised shall be paid to the Company in full at the time of exercise
         at the election of the Participation (i) in cash, (ii) in Shares having
         a Fair Market Value equal to the aggregate option price for the Shares
         being purchased and satisfying such other requirements as may be
         imposed by the Committee or (iii) partly in cash and partly in such
         Shares. No Eligible Holder shall have any rights to dividends or other
         rights of a shareholder with respect to Shares subject to an Option
         until the Eligible Holder has given written notice of exercise of the
         Option, paid in full for such Shares and, if applicable, has satisfied
         any other conditions imposed by the Committee pursuant to the Plan.

                  (e) Exercisability Upon Termination of Service by Death. Upon
         a Termination of Service by reason of death after the first anniversary
         of the date on which the original option was granted under the D&B
         Plans, the unexercised portion of such Option may
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         thereafter be exercised during the shorter of (A) the remaining term of
         the Option or (B) five years after the date of death.

                  (f) Exercisability Upon Termination of Service by Disability
         or Retirement. Upon a Termination of Service by reason of Disability or
         Retirement after the first anniversary of the date on which the
         original option was granted under the D&B Plans, the unexercised
         portion of such Option may thereafter be exercised during the shorter
         of (C) the remaining term of the Option or (D) five years after the
         date of such Termination of Service; provided, however, that if an
         Eligible Holder dies within a period of five years after such
         Termination of Service, the unexercised portion of the Option may
         thereafter be exercised, during the shorter of (iv) the remaining term
         of the Option or (v) the period that is the longer of (A) five years
         after the Date of such Termination of Service or (B) one year after the
         date of death.

                  (g) Effect of Other Termination of Service. Upon a Termination
         of Service by reason of Disability or Retirement prior to the first
         anniversary of the date on which an Option is granted (as described
         above), then, to the extent the Committee, in its sole discretion, so
         permits, such Option may be exercised thereafter, during the shorter of
         (A) the remaining term of such Option or (B) five years after the date
         of such Termination of Service, for a prorated number of Shares
         (rounded down to the nearest whole number of Shares), equal to (i) the
         number of Shares subject to such Option multiplied by (ii) a fraction
         the numerator of which is the number of days the Eligible Holder served
         on the Board and the New D&B Board subsequent to the date on which such
         Option was granted and the denominator of which is 365. The portion of
         such Option which is not so exercisable shall terminate as of the date
         of Disability or Retirement. Upon a Termination of Service for any
         other reason prior to the first anniversary of the date on which the
         original option was granted under the D&B Plans (as described above),
         the Option shall thereupon terminate. Upon a Termination of Service for
         any reason other than death, Disability or Retirement after the first
         anniversary of the date on which the original option was granted under
         the D&B Plans (as described above), the unexercised portion of the
         Option shall thereupon terminate.

                  (h) Nontransferability of Stock Options. Except as otherwise
         provided in this Section 7(h), a stock option shall not be transferable
         by the optionee otherwise than by will or by the laws of descent and
         distribution and during the lifetime of an optionee an option shall be
         exercisable only by the optionee. An option exercisable after the death
         of an optionee or a transferee pursuant to the following sentence may
         be exercised by the legatees, personal representatives or distributees
         of the optionee or such transferee. The Committee may, in its
         discretion, authorize all or a portion of the options previously
         granted or to be granted to an optionee to be on terms which permit
         irrevocable transfer for no consideration by such optionee to any
         child, stepchild, grandchild, parent, stepparent, grandparent, spouse,
         sibling, mother-in-law, father-in-law, son-in-law, daughter-in-law,
         brother-in-law, or sister-in-law, including adoptive relationships, of
         the optionee, trusts for the exclusive benefit of these persons, and
         any other entity owned solely by these persons ("Eligible
         Transferees"), provided that (x) the stock option agreement pursuant to
         which such options are granted must be approved by the Committee, and
         must expressly provide for transferability in a manner consistent with
         this Section and (y) subsequent transfers of transferred options shall
         be prohibited except
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         those in accordance with the first sentence of this Section 7(h). The
         Committee may, in its discretion, amend the definition of Eligible
         Transferees to conform to the coverage rules of Form S-8 under the
         Securities Act of 1933 or any comparable Form from time to time in
         effect. Following transfer, any such options shall continue to be
         subject to the same terms and conditions as were applicable immediately
         prior to transfer. The events of Termination of Service of Sections
         7(e), 7(f) and 7(g) hereof shall continue to be applied with respect to
         the original optionee, following which the options shall be exercisable
         by the transferee only to the extent, and for the periods specified, in
         Sections 7(e), 7(f) and 7(g). The Committee may delegate to a committee
         consisting of employees of the Company the authority to authorize
         transfers, establish terms and conditions upon which transfers may be
         made and establish classes of options eligible to transfer options, as
         well as to make other determinations with respect to option transfers.

8.       TERMS AND CONDITIONS OF RESTRICTED STOCK

         As of the Spinoff Date, D&B Restricted Stock and New D&B Restricted
Stock shall be forfeited, and such Eligible Holder shall receive replacement
restricted stock pursuant to this Plan. The number of shares of restricted stock
shall equal (i) the number of Shares of forfeited New D&B Restricted Stock plus
(ii) the number of shares of forfeited D&B Restricted Stock multiplied by a
fraction, the numerator of which is the average of the Daily Average Trading
Prices of D&B common stock for the five consecutive trading days starting on the
ex-dividend trading date, and the denominator of which is the average of the
Daily Average Trading Prices of the Shares for the five consecutive trading days
starting on the first date on which the Shares are traded regular way. Unless
otherwise specified in this Plan, all other terms of the replacement restricted
stock shall remain substantially identical to those of the forfeited D&B
Restricted Stock as set forth in the applicable D&B Plans and related D&B
Restricted Stock agreement(s); provided, however, that following the
Distribution Date, a New D&B Director's continued service as a non-employee
director and a New D&B Director's termination of service shall be based on his
or her service with New D&B.

9.       TERMS AND CONDITIONS OF PHANTOM STOCK UNITS

                  (a) Phantom Stock Units. As of the Spinoff Date, D&B Phantom
         Stock Units and New D&B Phantom Stock Units then held by each Eligible
         Holder shall be forfeited, and such Eligible Holder shall receive
         replacement Phantom Stock Units pursuant to this Plan. The number of
         Shares credited as Phantom Stock Units shall equal (i) the number of
         forfeited New D&B Phantom Stock Units plus (ii) the number of forfeited
         D&B Phantom Stock Units multiplied by a fraction, the numerator of
         which equals the average of the high and low trading prices of a share
         of R.H. Donnelley Corporation common stock for the five trading days
         starting on the ex-dividend date, and the denominator of which equals
         the average of the high and low trading prices of a Share for the five
         trading days starting on the regular way trading date. Phantom Stock
         Units shall be credited with dividend equivalents when dividends are
         deemed paid on balances held by employees of the Company (the "Employee
         Balances") in the Dun & Bradstreet Common Stock Fund of the Company's
         Profit Participation Plan (or successor plan), and such dividend
         equivalents shall be converted into additional Phantom Stock Units
         (including fractional Phantom Stock Units) in a manner consistent with
         the treatment of the Employee Balances. Unless otherwise specified in
         this Plan, all other terms of the replacement
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         Phantom Stock Units shall remain substantially identical to those of
         the forfeited D&B Phantom Stock Units as set forth in the applicable
         D&B Plans and related agreement(s).

                  (b) Payment in Cash Upon Termination of Service. On the tenth
         day (the "Payment Day") of the calendar year immediately following the
         calendar year containing the date on which an Eligible Holder
         terminates service with the Company (the "Termination Date"), the
         Eligible Holder shall receive a lump sum payment in cash equal to the
         Fair Market Value of the number of Phantom Stock Units (including
         fractional Phantom Stock Units) credited to the Eligible Holder's
         Phantom Stock Unit account on the December 31 immediately preceding the
         Payment Day (the "Determination Day"). Between the Termination Date and
         the Determination Day the Eligible Holder's Phantom Stock Units shall
         continue to be credited with dividend equivalents and such dividend
         equivalents shall continue to be converted into additional Phantom
         Stock Units (including fractional Phantom Stock Units) in the manner
         set forth above. As an alternative to receiving such payment on the
         Payment Day, the Eligible Holder may elect to receive his or her
         payment in such forms of payments (and on such terms and conditions) as
         are established by the Committee in its sole discretion.

                  (c) Crediting of Stock Dividends. When non-cash dividends are
         paid on Shares, an Eligible Holder's Phantom Stock Units shall be
         credited with dividend equivalents by crediting the Eligible Holder's
         account in a manner consistent with the treatment of the Employee
         Balances.

                  (d) Notwithstanding the foregoing, as of the Distribution
         Date, all Phantom Stock Units held by a New D&B Director shall be
         forfeited and such New D&B Director shall receive replacement phantom
         stock units pursuant to the 2000 Dun & Bradstreet Corporation
         Replacement Plan for Certain Nonemployee Directors Holding Dun &
         Bradstreet Corporation Equity-Based Awards.

10.      TERMS AND CONDITIONS OF DEFERRED PERFORMANCE SHARE UNITS

         As of the Spinoff Date, D&B Deferred Performance Share Units and New
D&B Deferred Performance Share Units then held by each Eligible Holder shall be
forfeited, and such Eligible Holder shall receive replacement Deferred
Performance Share Units pursuant to this Plan. The number of Shares credited as
Deferred Performance Share Units shall equal (i) the number of forfeited New D&B
Deferred Performance Share Units plus (ii) the number of forfeited D&B Deferred
Performance Share Units multiplied by a fraction, the numerator of which equals
the average of the high and low trading prices of a share of R.H. Donnelley
Corporation common stock for the five trading days starting on the ex-dividend
date, and the denominator of which equals the average of the high and low
trading prices of a Share for the five trading days starting on the regular way
trading date. Deferred Performance Share Units shall be credited with dividend
equivalents when dividends are deemed paid on balances held by employees of the
Company (the "Employee Balances") in the Dun & Bradstreet Common Stock Fund of
the Company's Profit Participation Plan (or successor plan), and such dividend
equivalents shall be converted into additional Deferred Performance Share Units
(including fractional Deferred Performance Share Units) in a manner consistent
with the treatment of the Employee Balances. Unless otherwise specified in this
Plan, all other terms of the replacement Deferred Performance Share Units shall
remain substantially identical to those of the forfeited D&B Deferred
<PAGE>   11
                                                                              11

Performance Share Units as set forth in the applicable D&B Plans and related
agreement(s); provided, however, that following the Distribution Date, a New D&B
Director's continued service as a non-employee director and a New D&B Director's
termination of service shall be based on his or her service with New D&B.

11.      ADJUSTMENTS UPON CERTAIN EVENTS

         Notwithstanding any other provisions in the Plan to the contrary, the
following provisions shall apply to all Awards granted under the Plan:

                  (a) Generally. In the event of any change in the outstanding
         Shares after the Effective Date by reason of any Share dividend or
         split, reorganization, recapitalization, merger, consolidation,
         spin-off, combination or exchange of Shares or other corporate
         exchange, or any distribution to shareholders of Shares other than
         regular cash dividends, the Committee, in its sole discretion, and
         without liability to any person, may make such substitution or
         adjustment, if any, as it deems to be equitable, as to (A) the number
         or kind of shares or other securities issued or reserved for issuance
         pursuant to the Plan or pursuant to outstanding Awards, (B) the option
         price and/or (C) any other affected terms of such Awards.

                  (b) Change in Control. Upon the occurrence of a Change in
         Control, (A) all restrictions on Shares of Restricted Stock shall
         lapse, (B) all Phantom Stock Units shall become payable to Eligible
         Holders in cash and (C) all Options shall vest and become exercisable.

                  (c) New D&B Change in Control. Upon the occurrence of a New
         D&B Change in Control, (A) all restrictions on Shares of Restricted
         Stock held by New D&B Directors shall lapse, (B) all Phantom Stock
         Units shall become payable to New D&B Employees in cash and (C) all
         Options shall vest and become exercisable.

12.      SUCCESSORS AND ASSIGNS

         The Plan shall be binding on all successors and assigns of the Company
and an Eligible Holder, including without limitation, the estate of such
Eligible Holder and the executor, administrator or trustee of such estate, or
any receiver or trustee in bankruptcy or representative of the Eligible Holder's
creditors.

13.      AMENDMENTS OR TERMINATION

         The Board may amend, alter or discontinue the Plan, but no amendment,
alteration or discontinuation shall be made which would impair the rights of any
Eligible Holder under any Award theretofore granted without such Eligible
Holder's consent.

14.      NONTRANSFERABILITY OF AWARDS

         Except as provided in Section 7(h) of the Plan, an Award shall not be
transferable or assignable by the Eligible Holder otherwise than by will or by
the laws of descent and distribution. During the lifetime of an Eligible Holder,
an Award shall be exercisable only by such Eligible Holder. An Award exercisable
after the death of an Eligible Holder may be
<PAGE>   12
                                                                              12

exercised by the legatees, personal representatives or distributees of the
Eligible Holder. Notwithstanding anything to the contrary herein, the Committee,
in its sole discretion, shall have the authority to waive this Section 14 (or
any part thereof) to the extent that this Section 14 (or any part thereof) is
not required under the rules promulgated under any law, rule or regulation
applicable to the Company.

15.      CHOICE OF LAW

         The Plan 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.

16.      EFFECTIVENESS OF THE PLAN

         The Plan shall be effective as of the Spinoff Date.<PAGE>   1
                                                                   Exhibit 10.14

                    1998 MOODY'S CORPORATION REPLACEMENT PLAN
           FOR CERTAIN EMPLOYEES HOLDING DUN & BRADSTREET CORPORATION
                               EQUITY-BASED AWARDS
              (as amended and restated as of the Distribution Date)

1.       PURPOSE OF THE PLAN

         The purpose of the 1998 Moody's Corporation Replacement Plan for
Certain Employees Holding Dun & Bradstreet Corporation Equity-Based Awards (the
"Plan") is to provide for the award of substantially identical replacement stock
options, replacement stock appreciation rights and replacement restricted stock
awards to certain employees of The New Dun & Bradstreet Corporation, a Delaware
corporation to be renamed "The Dun & Bradstreet Corporation" after the Spinoff,
to be renamed "Moody's Corporation" following the Distribution Date (the
"Company") whose awards under the 1991 Key Employees Stock Option Plan for The
Dun & Bradstreet Corporation and Subsidiaries, the 1982 Key Employees Stock
Option Plan for The Dun & Bradstreet Corporation and Subsidiaries and the 1989
Key Employees Restricted Stock Plan for The Dun & Bradstreet Corporation and
Subsidiaries (the "D&B Plans") were cancelled pursuant to the spinoff of the
Company from The Dun & Bradstreet Corporation, a Delaware corporation to be
renamed "R.H. Donnelley Corporation" after the Spinoff ("D&B") (the "Spinoff")
and to certain retired employees who elect, pursuant to the Spinoff, to have the
awards granted under the D&B Plans cancelled (the "Eligible Holders"). The
Company expects that the Plan will allow it to retain such employees and to
motivate them to exert their best efforts on behalf of the Company and its
subsidiaries by providing incentives through the replacement awards. The Company
also expects that it will benefit from the added interest which such employees
will have in the welfare of the Company as a result of their proprietary
interest in the Company's success. It is the intention of the Company that the
terms of the replacement awards will (i) substantially preserve the economic
value of the cancelled D&B awards and (ii) except for the terms described in
Sections 6, 7, 8 and 10 of this Plan, remain substantially identical to the
terms of the cancelled D&B awards. As a result of the distribution of the shares
of New D&B (as defined in Section 6(e) below) owned by the Company to the holder
of record of Shares, the Company has amended and restated the Plan as of the
Distribution Date (as defined in Section 6(e) below).

2.       STOCK SUBJECT TO THE PLAN

         The total number of shares of common stock of the Company ("Shares")
which may be issued under the Plan is equal to the aggregate number of Shares to
be issued as replacement awards, as calculated pursuant to Sections 6(a), 7(a),
8 and 10 of this Plan. The Shares may consist, in whole or in part, of unissued
Shares or treasury shares. After the initial grant of options and stock
appreciation rights, no further grant shall be made under the Plan.

3.       ADMINISTRATION

         The Board of Directors of the Company shall appoint a Compensation and
Benefits Committee (herein called the "Committee") consisting of at least three
members of the Board of Directors who shall administer the Plan and serve at the
pleasure of the Board; provided, however, that any action permitted to be taken
by the Committee may be taken by the Board, in its discretion. The Committee
shall have the authority, consistent with the Plan, to determine the provisions
of the stock options and stock appreciation rights to be granted, to interpret
the Plan
<PAGE>   2
                                                                               2

and the stock options and the stock appreciation rights granted under the Plan,
to adopt, amend and rescind rules and regulations for the administration of the
Plan, the stock options and the stock appreciation rights and generally to
conduct and administer the Plan and to make all determinations in connection
therewith which may be necessary or advisable, and all such actions of the
Committee shall be binding upon all Eligible Holders. The Committee shall
require payment of any amount the Company may determine to be necessary to
withhold for federal, state or local taxes as a result of the exercise of a
stock option or a stock appreciation right. Fair market value of the Shares as
of a given date shall be determined in accordance with procedures established by
the Committee.

4.       ELIGIBILITY

         Only Eligible Holders shall receive grants of replacement stock
options, replacement stock appreciation rights and replacement restricted stock
under the Plan. The granting of a stock option, stock appreciation right or a
share of restricted stock under the Plan shall impose no obligation on the
Company or any Subsidiary to continue the employment of an Eligible Holder and
shall not lessen or affect the right to terminate the employment of such
Eligible Holder.

5.       LIMITATIONS

         Options hereunder shall only be granted in replacement of D&B Stock
Options (as defined in Section 6(a) of the Plan) held by Eligible Holders
immediately prior to the Spinoff.

6.       TERMS AND CONDITIONS OF STOCK OPTIONS

         Stock options granted under the Plan shall be nonqualified, and shall
be subject to the foregoing and the following terms and conditions and to such
other terms and conditions, not inconsistent therewith, as the Committee shall
determine:

                  (a) Generally. As of the Spinoff, each unexercised stock
option held by an Eligible Holder that was granted under the D&B Plans (a "D&B
Stock Option") shall be cancelled, and such Eligible Holder shall receive a
replacement stock option pursuant to this Plan. The number of Shares covered by
each replacement stock option shall be determined by (i) multiplying the number
of shares of D&B common stock covered by the cancelled D&B Stock Option by a
fraction, the numerator of which is the average of the Daily Average Trading
Prices of D&B common stock for the five consecutive trading days immediately
preceding the first date on which D&B common stock is traded ex-dividend, and
the denominator of which is the average of the Daily Average Trading Prices of
the Shares for the five consecutive trading days starting on the first date on
which the Shares are traded regular way (the "D&B Ratio") and (ii) rounding down
the result to a whole number of Shares. The option price of each replacement
stock option shall be determined by dividing the option price of the cancelled
D&B Stock Option by the D&B Ratio. Unless otherwise specified in this Plan, all
other terms of the replacement stock options shall remain substantially
identical to those of the cancelled D&B Stock Options as set forth in the
applicable D&B Plan and related option agreement(s). For purposes of this
paragraph, the "Daily Average Trading Price" shall mean the average of the high
and low trading prices for stock on a given day.
<PAGE>   3
                                                                               3

                  (b) Exercisability. Except as set forth in the Plan, stock
options granted under the Plan shall have substantially identical terms as those
of the stock options originally granted under the D&B Plans; provided, however,
that in no event shall a replacement stock option be exercisable more than ten
years after the date the original option was granted under the D&B Plans.

                  (c) First Year Non-Exercisability. Except as provided in
Paragraph 10 of the Plan, no stock option shall be exercisable during the year
ending on the first anniversary date of the granting of the original option
under the D&B Plans.

                  (d) Exercise of Stock Options. Except as otherwise provided in
the Plan or the option, a stock option may be exercised for all, or from time to
time any part, of the Shares for which it is then exercisable. The purchase
price for the Shares as to which an option is exercised shall be paid to the
Company in full at the time of exercise at the election of the Eligible Holder
(i) in cash, (ii) in Shares of the Company having a fair market value equal to
the option price for the Shares being purchased and satisfying such other
requirements as may be imposed by the Committee or (iii) partly in cash and
partly in such Shares of the Company. The Committee may permit the Eligible
Holder to elect, subject to such terms and conditions as the Committee shall
determine, to have the number of Shares deliverable to the Eligible Holder as a
result of the exercise reduced by a number sufficient to pay the amount the
Company determines to be necessary to withhold for federal, state or local taxes
as a result of the exercise of the option. No Eligible Holder shall have any
rights to dividends or other rights of a shareholder with respect to Shares
subject to an option until the Eligible Holder has given written notice of
exercise of the option, paid in full for such Shares and, if requested, given
the representation described in Paragraph 6(h) of the Plan.

                  (e) Exercisability Upon Termination of Employment by Death. If
an Eligible Holder's employment by the Company or a subsidiary terminates by
reason of death one year or more after the date of grant of the original stock
option under the D&B Plans, the option thereafter may be exercised, during the
three years after the date of death or the remaining stated period of the
option, whichever period is shorter, to the extent to which such option was
exercisable at the time of death or thereafter would become exercisable during
the three-year period after the date of death in accordance with its terms;
provided, however, that following the date on which the shares of The New D&B
Corporation ("New D&B") that are owned by the Company are distributed to the
holders of record of shares of the Company (the "Distribution Date"), the
employment of an Eligible Holder who becomes and employee of New D&B or its
subsidiaries immediately following the Distribution Date (a "New D&B Employee")
shall be based on his or her employment with New D&B or its subsidiaries.

                  (f) Exercisability Upon Termination of Employment by
Disability or Retirement. If an Eligible Holder's employment by the Company or a
subsidiary terminates by reason of disability or retirement one year or more
after the date of grant of the original option under the D&B Plans, the option
thereafter may be exercised, during the five years after the date of such
termination of employment or the remaining stated period of the option,
whichever period is shorter, to the extent to which such option was exercisable
at the time of such termination of employment or thereafter would become
exercisable during such period in
<PAGE>   4
                                                                               4

accordance with its terms; provided, however, that if the Eligible Holder dies
within a period of five years after such termination of employment, any
unexercised stock option may be exercised thereafter, during either (1) the
period ending on the later of (i) five years after such termination of
employment and (ii) one year after the date of death or (2) the period remaining
in the stated term of the option, whichever period is shorter, to the extent to
which such option was exercisable at the time of death or thereafter would
become exercisable during the remainder of the five year period after such
termination of employment in accordance with its terms; provided, further, that
following the Distribution Date, the employment of a New D&B Employee shall be
based on his or her employment with New D&B and its subsidiaries. For purposes
of this Paragraph 6, "retirement" shall mean termination of employment with the
Company or a subsidiary after the Eligible Holder has attained age 55 and
completed ten or more years of employment; or after the Eligible Holder has
attained age 65, regardless of the length of such Eligible Holder's employment;
provided, however, that following the Distribution Date, the employment of a New
D&B Employee shall be based on his or her employment with the Company and New
D&B and their respective subsidiaries. An Eligible Holder shall not be
considered disabled for purposes of this Paragraph 6, unless he or she furnishes
such medical or other evidence of the existence of the disability as the
Committee, or the Compensation Committee of New D&B with respect to a New D&B
Employee following the Distribution Date, in its sole discretion, may require.

                  (g) Effect of Other Termination of Employment. If an Eligible
Holder's employment terminates for any reason, other than disability, death or
retirement one year or more after the date of grant of the original stock option
or stock appreciation right under the D&B Plans as described above, each stock
option and stock appreciation right held by such Eligible Holder shall thereupon
terminate; provided, however, that following the Distribution Date, the
employment of a New D&B Employee shall be based on his or her employment with
New D&B and its subsidiaries.

                  (h) Additional Agreements of Eligible Holder and Restrictions
on Transfer. The Committee may require each person purchasing Shares pursuant to
exercise of a stock option to represent to and agree with the Company in writing
that the Shares are being acquired without a view to distribution thereof. The
certificates for Shares so purchased may include any legend which the Committee
deems appropriate to reflect any restrictions on transfers. The Committee also
may impose, in its discretion, as a condition of any option, any restrictions on
the transferability of Shares acquired through the exercise of such option as it
may deem fit. Without limiting the generality of the foregoing, the Committee
may impose conditions restricting absolutely the transferability of Shares
acquired through the exercise of options for such periods as the Committee may
determine and, further, in the event the Eligible Holder's employment by the
Company or a subsidiary terminates during the period in which such Shares are
nontransferable, the Eligible Holder may be required, if required by the related
option agreement, to sell such Shares back to the Company at such price and on
such other terms as the Committee may have specified in the option agreement.

                  (i) Nontransferability of Stock Options. Except as otherwise
provided in this Paragraph 6(i), a stock option shall not be transferable by the
Eligible Holder otherwise than by will or by the laws of descent and
distribution and during the lifetime of an Eligible Holder an
<PAGE>   5
                                                                               5

option shall be exercisable only by the Eligible Holder. An option exercisable
after the death of an Eligible Holder or a transferee pursuant to the following
sentence may be exercised by the legatees, personal representatives or
distributees of the Eligible Holder or such transferee. The Committee may, in
its discretion, authorize all or a portion of the options previously granted or
to be granted to an Eligible Holder to be on terms which permit irrevocable
transfer for no consideration by such Eligible Holder to any child, stepchild,
grandchild, parent, stepparent, grandparent, spouse, sibling, mother-in-law,
father-in-law, son-in-law, daughter-in-law, brother-in-law, or sister-in-law,
including adoptive relationships, of the Eligible Holder, trusts for the
exclusive benefit of these persons, and any other entity owned solely by these
persons ("Eligible Transferees"), provided that (x) the stock option agreement
pursuant to which such options are granted must be approved by the Committee,
and must expressly provide for transferability in a manner consistent with this
Section and (y) subsequent transfers of transferred options shall be prohibited
except those in accordance with the first sentence of this Paragraph 6(i). The
Committee may, in its discretion amend the definition of Eligible Transferees to
conform to the coverage rules of Form S-8 under the Securities Act of 1933 or
any comparable Form from time to time in effect. Following transfer, any such
options shall continue to be subject to the same terms and conditions as were
applicable immediately prior to transfer. The events of termination of
employment of Paragraphs 6(e), 6(f) and 6(g) hereof shall continue to be applied
with respect to the original Eligible Holder, following which the options shall
be exercisable by the transferee only to the extent, and for the periods
specified, in Paragraphs 6(e), 6(f) and 6(g). The Committee may delegate to a
committee consisting of employees of the Company the authority to authorize
transfers, establish terms and conditions upon which transfers may be made and
establish classes of Eligible Holders eligible to transfer options, as well as
to make other determinations with respect to option transfers.

7.       TERMS AND CONDITIONS OF STOCK APPRECIATION RIGHTS

         Stock appreciation rights (including limited stock appreciation rights)
granted under the Plan shall be subject to the foregoing and the following terms
and conditions and to such other terms and conditions, not inconsistent
therewith, as the Committee shall determine:

                  (a) Replacement Stock Appreciation Rights. As of the Spinoff,
each unexercised stock appreciation right (including a limited stock
appreciation right) held by an Eligible Holder that was granted under the D&B
Plans (a "D&B SAR") shall be cancelled, and such Eligible Holder shall receive a
replacement stock appreciation right pursuant to this Plan. The number of Shares
covered by each replacement stock appreciation right shall be determined by (i)
multiplying the number of D&B shares covered by the cancelled D&B SAR by the D&B
Ratio and (ii) rounding down the result to a whole number of Shares. The
exercise price of each replacement stock appreciation right shall be determined
by dividing the exercise price of the cancelled D&B SAR by the D&B Ratio. Unless
otherwise specified in this Plan, all other terms of the replacement stock
appreciation rights shall remain substantially identical to those of the
cancelled D&B SARs as set forth in the applicable D&B Plans and related D&B SAR
agreement(s); provided, however, that following the Distribution Date, the
employment of a New D&B Employee shall be based on his or her employment with
New D&B and its subsidiaries.
<PAGE>   6
                                                                               6

                  (b) Terms. Each stock appreciation right shall entitle an
Eligible Holder to surrender to the Company an unexercised option, or any
portion thereof, and to receive from the Company in exchange therefor an amount
equal to the excess of the fair market value on the exercise date of one Share
over the option price per Share times the number of Shares covered by the
option, or portion thereof, which is surrendered. The date a notice of exercise
is received by the Company shall be the exercise date. Payment shall be made in
Shares or in cash, or partly in Shares and partly in cash, valued at such fair
market value, all as shall be determined by the Committee. Stock appreciation
rights may be exercised from time to time upon actual receipt by the Company of
written notice of exercise stating the number of Shares subject to an
exercisable option with respect to which the stock appreciation right is being
exercised. No fractional Shares will be issued in payment for stock appreciation
rights, but instead cash will be paid for a fraction or, if the Committee should
so determine, the number of Shares will be rounded downward to the next whole
Share.

                  (c) Limitations on Exercisability. The Committee shall impose
such conditions upon the exercisability of stock appreciation rights as will
result, except upon the occurrence of an event contemplated by replacement
limited stock appreciation rights granted pursuant to Paragraph 7(d) or
contemplated by the provisions of Paragraph 10, in the amount to be charged
against the Company's consolidated income by reason of stock appreciation rights
not to exceed, in any one calendar year, two percent of the Company's prior
calendar year's consolidated income before income taxes. The Committee also may
impose, in its discretion, such other conditions upon the exercisability of
stock appreciation rights as it may deem fit.

                  (d) Replacement Limited Stock Appreciation Rights. The
Committee shall grant replacement limited stock appreciation rights in
substantially the same manner in which replacement stock appreciation rights are
awarded pursuant to this Section 7 of the Plan. Unless the context otherwise
requires, whenever the term "stock appreciation right" is used in the Plan, such
term shall include limited stock appreciation rights.

8.       TERMS AND CONDITIONS OF RESTRICTED STOCK

         As of the Spinoff Date, restricted stock held by an Eligible Holder
that was granted under the D&B Plans ("D&B Restricted Stock") and restricted
stock received by an Eligible Holder as a result of the Spinoff ("New D&B
Restricted Stock") shall be forfeited, and such Eligible Holder shall receive
replacement restricted stock pursuant to this Plan. The number of shares of
restricted stock shall equal (i) the number of Shares of forfeited New D&B
Restricted Stock plus (ii) the number of shares of forfeited D&B Restricted
Stock multiplied by a fraction, the numerator of which is the average of the
Daily Average Trading Prices of D&B common stock for the five consecutive
trading days starting on the ex-dividend trading date, and the denominator of
which is the average of the Daily Average Trading Prices of the Shares for the
five consecutive trading days starting on the first date on which the Shares are
traded regular way. Unless otherwise specified in this Plan, all other terms of
the replacement restricted stock shall remain substantially identical to those
of the forfeited D&B Restricted Stock as set forth in the applicable D&B Plans
and related D&B Restricted Stock agreement(s); provided, however, that following
the Distribution Date, the employment of a New D&B Employee shall be based on
his or her employment with New D&B and its subsidiaries. For purposes of this
paragraph,
<PAGE>   7
                                                                               7

the "Daily Average Trading Price" shall mean the average of the high and low
trading prices for stock on a given day.

9.       TRANSFERS AND LEAVES OF ABSENCE

         For purposes of the Plan: (a) a transfer of an employee from the
Company or New D&B to a 50% or more owned subsidiary, partnership, venture or
other affiliate (whether or not incorporated) of the Company or New D&B,
respectively or vice versa, or from one such subsidiary, partnership, venture or
other affiliate to another, (b) a leave of absence, duly authorized in writing
by the Company or New D&B, as the case may be, for military service or sickness
or for any other purpose approved by the Company or New D&B, as the case may be,
if the period of such leave does not exceed 90 days, or (c) a leave of absence
in excess of 90 days, duly authorized in writing by the Company or New D&B, as
the case may be, provided the employee's right to re-employment is guaranteed
either by statute or by contract, shall not be deemed a termination of
employment under the Plan.

10.      ADJUSTMENTS UPON CHANGES IN CAPITALIZATION OR OTHER EVENTS

                  (a) Generally. Upon changes in the Shares by reason of a stock
dividend, stock split, reverse split, recapitalization, merger, consolidation,
combination or exchange of Shares, separation, reorganization or liquidation,
the number and class of Shares available under the Plan as to which stock
options, stock appreciation rights or restricted stock may be granted (both in
the aggregate and to any one Eligible Holder), the number and class of Shares
under each option and the option price per Share, the terms of stock
appreciation rights and the number and class of shares under each restricted
stock award shall be correspondingly adjusted by the Committee, such adjustments
to be made in the case of outstanding options without change in the total price
applicable to such options.

                  (b) Company Transaction. In the event of a merger,
consolidation, combination, reorganization or other transaction in which the
Company will not be the surviving corporation, an Eligible Holder shall be
entitled to options on that number of shares of stock in the new corporation
which the Eligible Holder would have received had the Eligible Holder exercised
all of the unexercised options available to the Eligible Holder under the Plan,
whether or not then exercisable, at the instant immediately prior to the
effective date of such transaction, and if such unexercised options had related
stock appreciation rights the Eligible Holder also will receive new stock
appreciation rights related to the new options. Thereafter, adjustments as
provided above shall relate to the options or stock appreciation rights of the
new corporation. Except as otherwise specifically provided in the stock option,
stock appreciation right or restricted stock award, in the event of a Change in
Control, merger, consolidation, combination, reorganization or other transaction
in which the shareholders of the Company will receive cash or securities (other
than common stock) or in the event that an offer is made to the holders of
common stock of the Company to sell or exchange such common stock for cash,
securities or stock of another corporation and such offer, if accepted, would
result in the offeror becoming the owner of (a) at least 50% of the outstanding
common stock of the Company or (b) such lesser percentage of the outstanding
common stock which the Committee in its sole discretion determines will
materially adversely affect the market value of the common stock after the
tender
<PAGE>   8
                                                                               8

or exchange offer, the Committee shall, prior to the shareholders' vote on such
transaction or prior to the expiration date (without extensions) of the tender
or exchange offer, (A) with respect to stock options and stock appreciation
rights, (i) accelerate the time of exercise so that all stock options and stock
appreciation rights which are outstanding shall become immediately exercisable
in full without regard to any limitations of time or amount otherwise contained
in the Plan or the options or stock appreciation rights and/or (ii) determine
that the options and stock appreciation rights shall be adjusted and make such
adjustments by substituting for common stock of the Company subject to options
and stock appreciation rights, common stock of the surviving corporation or
offeror if such stock of such corporation is publicly traded or, if such stock
is not publicly traded, by substituting common stock of a parent of the
surviving corporation or offeror if the stock of such parent is publicly traded,
in which event the aggregate option price shall remain the same and the number
of Shares subject to option shall be the number of Shares which could have been
purchased on the closing day of such transaction or the expiration date of the
offer with the proceeds which would have been received by the Eligible Holder if
the option had been exercised in full prior to such transaction or expiration
date and the Eligible Holder had exchanged all of such Shares in the transaction
or sold or exchanged all of such Shares pursuant to the tender or exchange
offer, and if any such option has related stock appreciation rights, the stock
appreciation rights shall likewise be adjusted and (B) with respect to
restricted stock, (i) accelerate the termination of the Restriction Period (as
defined in the applicable D&B Plan) so that all restrictions with respect to an
Eligible Holder's restricted stock shall immediately lapse without regard to any
limitations of time or amount otherwise contained in the D&B Plans or a
restricted stock agreement and/or (ii) determine that the awards shall be
adjusted and make such adjustments by substituting for the Shares subject to
awards, common stock of the surviving corporation or offeror if such stock of
such corporation is publicly traded or, if such stock is not publicly traded, by
substituting common stock of a parent of the surviving corporation or offeror if
the stock of such parent is publicly traded, in which event the number of shares
subject to an award shall be the number of shares which could have been
purchased on the closing day of such transaction or the expiration date of the
offer with the proceeds which would have been received by the Eligible Holder if
the Eligible Holder had exchanged all of such shares in the transaction or sold
or exchanged all of such shares pursuant to the tender or exchange offer. For
purposes of stock options and stock appreciation rights, "Change in Control"
means:

                  (i) any "Person," as such term is used in Sections 13(d) and
         14(d) of the Securities Exchange Act of 1934, as amended (the "Exchange
         Act"), (other than the Company, any trustee or other fiduciary holding
         securities under an employee benefit plan of the Company, or any
         corporation owned, directly or indirectly, by the shareholders of the
         Company in substantially the same proportions as their ownership of
         stock of the Company), is or becomes the "Beneficial Owner" (as defined
         in Rule 13d-3 under the Exchange Act), directly or indirectly, of
         securities of the Company representing 30% or more of the combined
         voting power of the Company's then outstanding securities;

                  (ii) during any period of two consecutive years, individuals
         who at the beginning of such period constitute the Board, and any new
         Director (other than a Director designated by a person who has entered
         into an agreement with the Company to effect a transaction described in
         clause (a), (c) or (d) of this Paragraph) whose election by
<PAGE>   9
                                                                               9

         the Board or nomination for election by the Company's shareholders was
         approved by a vote of at least two-thirds (2/3) of the Directors then
         still in office who either were Directors at the beginning of the
         period or whose election or nomination for election was previously so
         approved cease for any reason to constitute at least a majority
         thereof;

                  (iii) the shareholders of the Company approve a merger or
         consolidation of the Company with any other corporation, other than (1)
         a merger or consolidation which would result in the voting securities
         of the Company outstanding immediately prior thereto continuing to
         represent (either by remaining outstanding or by being converted into
         voting securities of the surviving entity) more than 50% of the
         combined voting power of the voting securities of the Company or such
         surviving entity outstanding immediately after such merger or
         consolidation or (2) a merger or consolidation effected to implement a
         recapitalization of the Company (or similar transaction) in which no
         "Person" (as hereinabove defined) acquires more than 50% of the
         combined voting power of the Company's then outstanding securities; or

                  (iv) the shareholders of the Company approve a plan of
         complete liquidation of the Company or an agreement for the sale or
         disposition by the Company of all or substantially all of the Company's
         assets.

              (c) New D&B Transaction. In the event of a New D&B Change in
Control (as defined below) following the Distribution Date, with respect to
stock options and stock appreciation rights held by New D&B Employees, the New
D&B Committee may accelerate the time of exercise so that all stock options and
stock appreciation rights which are outstanding shall become immediately
exercisable in full without regard to any limitations of time or amount
otherwise contained in the Plan or the options or stock appreciation rights. For
purposes of this Section 9(c), "New D&B Change in Control" means:
<PAGE>   10
                                                                              10

                  (i) any "Person," as such term is used in Sections 13(d) and
         14(d) of the Exchange Act, (other than New D&B, any trustee or other
         fiduciary holding securities under an employee benefit plan of New D&B,
         or any corporation owned, directly or indirectly, by the shareholders
         of New D&B in substantially the same proportions as their ownership of
         stock of New D&B), is or becomes the "Beneficial Owner" (as defined in
         Rule 13d-3 under the Exchange Act), directly or indirectly, of
         securities of New D&B representing 30% or more of the combined voting
         power of New D&B's then outstanding securities;

                  (ii) during any period of two consecutive years, individuals
         who at the beginning of such period constitute the Board of Directors
         of New D&B (the "New D&B Board"), and any new Director (other than a
         Director designated by a person who has entered into an agreement with
         New D&B to effect a transaction described in clause (a), (c) or (d) of
         this Paragraph) whose election by the New D&B Board or nomination for
         election by New D&B's shareholders was approved by a vote of at least
         two-thirds (2/3) of the Directors then still in office who either were
         Directors at the beginning of the period or whose election or
         nomination for election was previously so approved cease for any reason
         to constitute at least a majority thereof;

                  (iii) the shareholders of New D&B approve a merger or
         consolidation of New D&B with any other corporation, other than (1) a
         merger or consolidation which would result in the voting securities of
         New D&B outstanding immediately prior thereto continuing to represent
         (either by remaining outstanding or by being converted into voting
         securities of the surviving entity) more than 50% of the combined
         voting power of the voting securities of New D&B or such surviving
         entity outstanding immediately after such merger or consolidation or
         (2) a merger or consolidation effected to implement a recapitalization
         of New D&B (or similar transaction) in which no "Person" (as
         hereinabove defined) acquires more than 50% of the combined voting
         power of New D&B's then outstanding securities; or

                  (iv) the shareholders of New D&B approve a plan of complete
         liquidation of New D&B or an agreement for the sale or disposition by
         New D&B of all or substantially all of New D&B's assets.

11.      USE OF PROCEEDS

         Proceeds from the sale of Shares pursuant to exercise of stock options
granted under the Plan shall constitute general funds of the Company.

12.      AMENDMENTS

         The Board of Directors may amend, alter or discontinue the Plan, but no
amendment, alteration or discontinuation shall be made which would impair the
rights of any Eligible Holder under any award theretofore granted, without the
Eligible Holder's consent, or which, without the approval of the shareholders of
the Company, would:
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                                                                              11

                  (a) Except as is provided in Paragraph 10 of the Plan,
increase the total number of Shares reserved for the purposes of the Plan or
change the maximum number of Shares for which awards may be granted to any
Eligible Holder.

                  (b) Decrease the option price to less than 100% of fair market
value on the date of grant of the original option under the D&B Plans.

                  (c) Change the employees (or class of employees) eligible to
receive awards under the Plan.

                  (d) Materially increase the benefits accruing to employees
participating under the Plan.

13.      EFFECTIVENESS OF THE PLAN AND AMENDMENTS

         The Plan shall be effective as of the Spinoff.

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