Document:

Exhibit 10.2
                                                                    ------------
                              HARLEY-DAVIDSON, INC.

              DEFERRED COMPENSATION PLAN FOR NONEMPLOYEE DIRECTORS

                         Initially Effective May 1, 1995

            Amended and Restated May 1, 2001, and Amended May 3, 2003

Concept
-------

Harley-Davidson, Inc. (the "Company") created this Plan, effective as of May 1,
1995, to assist nonemployee directors of the Company to defer income, other than
income payable under the Harley-Davidson, Inc. Director Stock Plan (the "Stock
Plan"), until retirement, death, or other cessation of service as a director of
the Company. The Plan is amended and restated effective May 1, 2001, to allow
participant direction of investment of Deferred Benefit Accounts., and further
amended May 3, 2003.

Administrator
-------------

The Nominating and Corporate Governance Committee of the Board of Directors of
the Company is the Administrator of the Plan.

Eligibility
-----------

Directors of the Company who are not employees of the Company ("nonemployee
directors") are eligible under the Plan.

Participation Requirements
--------------------------

A nonemployee director must complete a Deferred Compensation Agreement in order
to defer compensation under the Plan. A nonemployee director who executes a
Deferred Compensation Agreement is referred to as a participant until all of his
or her benefits hereunder are paid in full.

Compensation Deferral
---------------------

A Deferred Compensation Agreement under the Plan will not apply to compensation
that a nonemployee director elects to receive in the form of shares of common
stock of the Company under Section 7.1 of the Stock Plan. Each Deferred
Compensation Agreement must specify the percentage of the participant's Annual
Retainer Fee to be deferred, which percentage may be one hundred percent (100%),
fifty percent (50%), or none, and the effective date, which may be prospective
only. For purposes of the Plan, the term "Annual Retainer Fee" means the annual
retainer fee then in effect for service by the participant as a director, board
committee chair and/or committee member.

<PAGE>

The Agreement also must specify whether the optional installment payment method
is selected by the participant in lieu of the standard lump sum cash payment.
The standard and optional forms of payment are described below.

Deferred Compensation Agreements Irrevocable Until Changed
----------------------------------------------------------

An eligible director as of the 1995 annual meeting of the Company may complete
his or her initial Deferred Compensation Agreement at any time on or before May
6, 1995. Thereafter, a newly eligible director may complete his or her initial
Agreement within 30 days of becoming eligible. Such initial elections shall be
deemed to be effective as of the date on which they are executed and filed with
the Treasurer of the Company. Deferred Compensation Agreements are irrevocable
until changed. Any elections other than when a director is initially eligible,
and any changes to existing elections may be completed and filed with the
Treasurer of the Company only during the 30 day period up to and including an
annual meeting of the Company, and shall be effective as of such annual meeting.
All deferral elections under the Plan shall automatically terminate upon the
occurrence of a Change of Control Event. The definition of Change of Control
Event is as set forth in Schedule A to the Plan, which may be revised from time
to time by the Administrator to maintain consistency with the definition of this
term used by the Company for other corporate compensation-related purposes.

Deferred Benefit Account
------------------------

The Company will establish on its books a Deferred Benefit Account for each
nonemployee director executing a Deferred Compensation Agreement. Deferred
compensation shall be credited to this account as of the date on which such
compensation is deemed to accrue to the participant. Distributions shall be
charged to this account as they are made.

Prior to July 1, 2001, interest at the Plan's interest rate will be credited to
the account of each participant as of the last day of each month. Interest will
be calculated by applying the Plan's interest rate to the balances of the
account on such date including distributions to be deducted on that date. The
Plan's interest rate means, for each 12 consecutive calendar months ending after
September 1, the Moody's Long Term Bond Rate in effect on such September 1 (or
the last business day immediately preceding such date if it is a Saturday,
Sunday, or holiday) divided by 12.

Effective July 1, 2001, each participant's Deferred Benefit Account shall be
deemed to be invested in investment options made available by the Administrator
and selected by the participant, in accordance with Administrator rules and
procedures uniformly applied.

                                       2
<PAGE>

Participant Investment Directions
---------------------------------

The Administrator shall select and may prospectively change the investment
options to be available for participant investment direction under the Plan and
the number of times each year (not less than one) that participants may change
investment directions. Any new or revised participant investment direction,
completed in accordance with Administrator rules, shall apply to a participant's
entire Deferred Benefit Account. The authorized representative of a deceased
participant's estate may provide investment directions after the death of the
participant and in accordance with the provisions of the Plan.

No Trust Fund Created
---------------------

A participant's Deferred Benefit Account is a means of measuring the value of
the participant's deferred compensation. The account does not create a trust
fund of any kind. Any assets earmarked by the Company to pay benefits under the
Plan do at all times remain with the Company. A participant has no property
interest in specific assets of the Company because of the Plan. The rights of
the participant, or an estate, to benefits under the Plan shall be solely those
of an unsecured creditor of the Company.

Statement of Account
--------------------

Following the close of each year the Company will provide statements of account
to each participant.

When Payment of Benefits Begins
-------------------------------

Upon cessation of a participant's service as a director of the Company for any
reason, or upon the occurrence of a Change of Control Event, the Company will
pay to the participant (or, in case of the death of the participant, to the
participant's beneficiary designated in accordance with the Plan or, if no such
beneficiary is designated, to the participant's estate), as compensation for
prior service as a director, an amount equal to the value of the participant's
Deferred Benefit Account.

Forms of Benefit Payment
------------------------

The standard form of payment is a single lump sum cash payment to be completed
promptly upon the occurrence of a Change of Control Event or within 30 days
after the end of the quarter in which the participant ceases service as a
director of the Company.

The optional installment payment method permits the participant to select the
period over which payments are to be made. Under the optional installment
method, at the time a participant completes the participant's initial Deferred
Compensation Agreement, or thereafter in accordance with Plan rules, the
participant may select the number of years over which benefits are to be paid to
the participant, up to a maximum of 5 years. The payment period

                                       3
<PAGE>

selected shall apply to the participant's entire Deferred Benefit Account. The
optional installment payment method does not apply upon the occurrence of a
Change of Control Event.

Optional installment payments shall commence within 30 days after the end of the
quarter in which the participant ceases service as a director of the Company;
all subsequent installment payments shall be paid in July of each year following
the year in which the first installment is paid to the participant during the
installment period. The amount to be distributed annually is determined by
multiplying the value of the participant's Deferred Benefit Account by a
fraction, the numerator of which is one (1) and the denominator of which is the
number of years remaining for the payments to be made (e.g., 1/5, 1/4, 1/3,
etc.).

A Deferred Benefit Account shall remain subject to participant investment
direction during the installment payment period.

Changes by a participant in the form of payment to be made and/or in the number
of years in the installment payment period (not to exceed 5 years) shall be in
writing and filed with the Treasurer of the Company not less than 12 months
before the date the participant ceases service as a director of the Company for
any reason. If a change is requested less than 12 months in advance of the date
the participant ceases service as a director of the Company for any reason, the
participant's previous valid election of a form of payment shall be given
effect. If there is no previous valid election of an optional form of payment in
effect, payment will be made in the standard form.

Hardship Payments
-----------------

The Administrator may, in its sole discretion, upon the finding that the
participant has suffered a severe financial hardship, distribute to the
participant part or all of the participant's Deferred Benefit Account, as needed
to meet the participant's need.

Designation of Beneficiary
--------------------------

Each participant entitled to any payments from his or her Deferred Benefit
Account from time to time may designate a beneficiary or beneficiaries to whom
any such payments are to be paid in case of the participant's death before
receipt of any or all of such payments. Any designation will revoke all prior
designations by the participant, shall be in a form prescribed by the Company
and will be effective only when filed by the participant, during his or her
lifetime, in writing with the Treasurer of the Company. References in the Plan
to a participant's "beneficiary" at any date shall include such persons
designated as concurrent beneficiaries on the director's beneficiary designation
form then in effect. In the absence of any such designation, any balance
remaining in a participant's Deferred Benefit Account at the time of the
participant's death shall be paid to such participant's estate in a lump sum.

Assignment
----------

A participant may not assign the right to receive benefits under the Plan.

                                       4
<PAGE>

Not a Contract to Continue as Director
--------------------------------------

This Plan may not be construed as giving any person the right to be retained as
a director of the Company.

Taxes
-----

The Company may withhold from all benefit payments any amounts which may be
required to be withheld under applicable tax laws.

Amendment and Termination
-------------------------

The Company may, at any time, by action of the Board of Directors of the
Company, amend the Plan, with prospective effect, or terminate the Plan and
thereupon distribute all unpaid amounts. The Company may not, however, reduce
any benefit payments to a participant based on deferrals already made, without
the participant's consent.

Construction
------------

The Plan is to be construed under the laws of the State of Wisconsin.

Binding Agreement
-----------------

This Plan is binding upon the Company and participants and their respective
successors, assigns, heirs, executors, and beneficiaries.

     AS AMENDED, pursuant to authorization of the Board of Directors of the
Company as of:

                                           Date:
                                                --------------------------------

                                           HARLEY-DAVIDSON, INC.

                                           By:
                                              ----------------------------------

                                                 Its:
                                                     ---------------------------

                                       5
<PAGE>
                                SCHEDULE A TO THE

                              HARLEY-DAVIDSON, INC.

              DEFERRED COMPENSATION PLAN FOR NONEMPLOYEE DIRECTORS

A Change of Control Event means any one of the following:

(a)  Continuing directors no longer constitute at least two-thirds of the
     directors of Harley-Davidson, Inc. "Continuing director" means any
     individual who is either (i) a member of the Board on May 3, 2003, or (ii)
     a member of the Board whose election or nomination to the Board was
     approved by a vote of at least two-thirds (2/3) of the Continuing Directors
     (other than a person whose election was as a result of an actual or
     threatened proxy or other control contest);

(b)  Any person or group of persons (as defined in Rule 13d-5 under the
     Securities Exchange Act of 1934, as amended (the "Exchange Act")), together
     with its affiliates, becomes the beneficial owner, directly or indirectly,
     of twenty percent (20%) or more of the then outstanding common stock of
     Harley-Davidson, Inc. or twenty percent (20%) or more of the voting power
     of the then outstanding securities of Harley-Davidson, Inc. entitled
     generally to vote for the election of the members of the Board;

(c)  The approval by the shareholders of Harley-Davidson, Inc. of the merger or
     consolidation of Harley-Davidson, Inc. with any other corporation, the sale
     of substantially all of the assets of Harley-Davidson, Inc., or the
     liquidation or dissolution, of Harley-Davidson, Inc., unless, in the case
     of a merger or consolidation, the then Continuing Directors in office
     immediately prior to such merger or consolidation will constitute at least
     two-thirds (2/3) of the directors of the surviving corporation of such
     merger or consolidation and any parent (as such term is defined in Rule
     12b-2 under the Exchange) of such corporation; or

(d)  At least two-thirds (2/3) of the then Continuing Directors in office
     immediately prior to any other action proposed to be taken by the
     shareholders of Harley-Davidson, Inc. or by the Board determines that such
     proposed action, if taken, would constitute a change of control of
     Harley-Davidson, Inc. and such action is taken.

                                       6Exhibit (4.1)

                               BADGER METER, INC.
                             2003 STOCK OPTION PLAN

1.   Purpose

     The purpose of the Badger Meter, Inc. 2003 Stock Option Plan (the "Plan")
is to promote the best interests of Badger Meter, Inc. (the "Company") and its
shareholders by encouraging directors and key employees of the Company and its
subsidiaries to secure or increase on reasonable terms their stock ownership in
the Company. The Board of Directors of the Company believes the Plan will
promote continuity of management, increased incentive and personal interest in
the welfare of the Company by those who are primarily responsible for shaping
and carrying out the long-range plans of the Company and its subsidiaries and
securing their continued growth and financial success. It is intended that
certain of the options issued under the Plan may constitute incentive stock
options within the meaning of Section 422 of the Internal Revenue Code
("Incentive Stock Options") and the remainder of the options issued under the
Plan will constitute non-qualified stock options ("Non-qualified Stock
Options").

2.   Effective Date

     The Plan shall become effective on the date of adoption by the shareholders
of the Company and all options granted by the Board of Directors prior to such
shareholder approval shall be subject to such approval.

3.   Administration

     (a) The Plan shall be administered by the Management Review Committee of
the Board (the "Committee") as such Committee may be constituted from time to
time. The Committee shall consist of not less than two members of the Board
selected by the Board, each of whom shall qualify as a non-employee director
within the meaning of Rule 16b-3 under the Securities Exchange Act of 1934
("Exchange Act"), or any successor rule or regulation thereto. A majority of the
members of the Committee shall constitute a quorum. All determinations of the
Committee shall be made by a majority of its members. Any decision or
determination reduced to writing and signed by all of the members of the
Committee shall be fully effective as if it had been made by a majority vote at
a meeting duly called and held.

     If at any time the Committee shall not be in existence or not consist of
directors who are qualified as "non-employee directors" as defined above, the
Board shall administer the Plan. To the extent permitted by applicable law, the
Board may, in its discretion, delegate to another committee of the Board or to
any or all of the authority and responsibility of the Committee with respect to
options to participants other than participants who are subject to the
provisions of Section 16 of the Exchange Act. To the extent that the Board has
delegated to such other committee the authority and

<PAGE>

responsibility of the Committee, all references to the Committee herein shall
include such other committee.

     (b) Subject to the express provisions of the Plan, the Committee shall have
complete authority to select the key employees to whom options shall be granted,
to determine the number of shares subject to each option, the time at which the
option is to be granted, the type of option, the option period, the option price
and the manner in which options become exercisable, and shall establish such
other terms and conditions of the options as the Committee may deem necessary or
desirable. In making such determinations, the Committee may take into account
the nature of the services rendered by the respective employees, their present
and potential contribution to the success of their respective organizations and
such other factors as the Committee in its discretion shall deem relevant.
Subject to the express provisions of the Plan, the Committee shall also have
complete authority to interpret the Plan, to prescribe, amend and rescind the
rules and regulations relating to it, to waive any conditions or restriction
with respect to any options, and to make all other determinations necessary or
advisable for the administration of the Plan. The determinations of the
Committee on the matters referred to in this paragraph 3 shall be conclusive.

4.   Eligibility

     Any non-employee director ("Director") or key employee ("Employee") of the
Company or its present and future subsidiaries, as defined in Section 424(f) of
the Internal Revenue Code ("Subsidiaries"), whose judgment, initiative and
efforts contribute materially to the successful performance of the Company or
its Subsidiaries, shall be eligible to receive options under the Plan.

5.   Shares Subject to the Plan

     The shares which may be issued pursuant to options under the Plan shall be
shares of the Company's Common Stock, $1.00 par value ("Stock"), and may be
either authorized and unissued or treasury shares. The total number of shares
for which options may be granted and which may be purchased pursuant to options
under the Plan shall not exceed an aggregate of 200,000 shares, subject to
adjustment as provided in the following sentence and in paragraph 12 hereof. If
an option granted under the Plan expires, is canceled or terminates unexercised
as to any shares of Stock subject thereto, or if shares of Stock are used to
satisfy the Company's withholding tax obligations, such shares shall again be
available for the granting of additional options under the Plan.

6.   Option Price

     The option price per share of Stock shall be fixed by the Committee, but
shall be not less than 100% in the case of Incentive Stock Options of the fair
market value of the Stock on the date the option is granted. Unless otherwise
determined by the Committee, the "fair market value" of Stock on the date of
grant shall be the closing price for a share

                                       2
<PAGE>

of Stock on such date, or, if such date is not a trading date, the next
preceding trading date as quoted on the American Stock Exchange Transaction
Reporting System.

7.   Grant of Options

     (a) Subject to the terms and conditions of the Plan, the Committee may,
from time to time, grant to Employees options to purchase such number of shares
of Stock and on such terms and conditions as the Committee may determine. More
than one option may be granted to the same Employee. The day on which the
Committee approves the granting of an option shall be considered as the date on
which such option is granted.

     (b) Notwithstanding the foregoing, each Director of the Company who is not
an employee of the Company or any subsidiary or affiliate thereof, and who first
became or becomes a Director after May 2, 2003, shall, upon approval of the Plan
by the shareholders of the Company, or at the time of their first election to
the Board, subject to adjustments as provided in paragraph 12, automatically
receive an option to purchase 6,000 shares of Stock on that date. Any date on
which a Director receives an option shall be referred to as a "Grant Date". Such
options shall be Non-qualified Stock Options with an expiration date ten (10)
years after the Grant Date. The option price per share shall be the closing
price for a share of Stock on the Grant Date, or if such day is not a trading
day, the next preceding trading day as quoted on the American Stock Exchange
Transaction Reporting System.

     (c) Notwithstanding the foregoing, each Director of the Company who is not
an employee of the Company or any subsidiary or affiliate thereof, and who first
became or becomes a Director after May 2, 2003, shall, upon approval of the Plan
by the shareholders of the Company, or at the time of their first election to
the Board, be entitled to receive an option to purchase up to 2,500 shares of
Stock on that date with the amount of options granted fixed by the number of
options remaining unexercised under the Long-term Incentive Plan approved by the
Management Review Committee on January 26, 1999, in order to increase the
Directors' stake in the future of the Company. Any date on which a Director
receives an option shall be referred to as a Grant Date. Such options shall be
Non-qualified Stock Options with an expiration date ten (10) years after the
Grant Date. The option price per share shall be the closing price for a share of
Stock on the Grant Date, or if such day is not a trading day, the next preceding
trading day as quoted on the American Stock Exchange Transaction Reporting
System.

8.   Option Period

     Except as set forth in paragraph 7, the Committee shall determine the
expiration date of each option, but in the case of Incentive Stock Options such
expiration date shall be not later than ten (10) years after the date such
option is granted.

                                       3
<PAGE>

9.   Maximum Per Participant

     The aggregate fair market value (determined at the time the option is
granted pursuant to paragraph 7) of the Stock with respect to which any
Incentive Stock Options are exercisable for the first time by a Director or
Employee during any calendar year under the Plan or any other such plan of the
Company or any Subsidiary shall not exceed $100,000.

10.  Exercise of Options

     An option may be exercised, subject to its terms and conditions and the
terms and conditions of the Plan, in full at any time or in part from time to
time by delivery to the Company at its principal office of a written notice of
exercise specifying the number of shares with respect to which the option is
being exercised. Any notice of exercise shall be accompanied by full payment of
the option price of the shares being purchased (a) in cash or its equivalent; or
(b) with the consent of the Committee, by delivering to the Company shares of
Stock (valued at their fair market value as of the date of exercise, as
determined by the Committee consistent with the method of valuation set forth in
paragraphs 6 and 7); (c) with the consent of the Committee, by any combination
of (a) and (b); or (d) by delivering (including by fax) to the Company or its
designated agent an executed irrevocable option exercise form together with
irrevocable instructions to a broker/dealer to sell or margin a sufficient
portion of the shares of Stock and delivering the sale or margin loan proceeds
directly to the Company to pay for the option price.

11.  Transferability

     No option shall be assignable or transferable by a Director or an Employee
other than by will or the laws of descent and distribution, and may be exercised
during the life of the Director or Employee only by the Director or Employee or
his guardian or legal representative, except that an Employee may, to the extent
allowed by the Committee and in a manner specified by the Committee, (a)
designate in writing a beneficiary to exercise the option after the Employee's
death and (b) transfer any option.

12.  Capital Adjustments Affecting Common Stock

     In the event of a capital adjustment resulting from a stock dividend, stock
split, reorganization, recapitalization, merger, consolidation, combination or
exchange of shares or the like, the number of shares of Stock subject to the
Plan and the aggregate number and class of shares under option in outstanding
option agreements shall be adjusted in a manner consistent with such capital
adjustment; provided, however, that no such adjustment shall require the Company
to sell any fractional shares. The determination of the Committee as to any
adjustment shall be final. Notwithstanding the foregoing, options subject to
grant or previously granted to Directors under the Plan at the time of any
capital adjustments shall be subject only to such adjustments as shall be
necessary to maintain the relative proportionate interest of each Director and
preserve, without exceeding, the value of such options.

                                       4
<PAGE>

13.  Corporate Mergers and Other Consolidations

     The Committee may also grant options having terms and provisions which vary
from those specified in the Plan provided that any options granted pursuant to
this paragraph are granted in substitution for, or in connection with the
assumption of, existing options granted by another company and assumed or
otherwise agreed to be provided for by the Company pursuant to or by reason of a
transaction involving a corporate merger, consolidation, acquisition or other
reorganization to which the Company is a party.

14.  Option Agreements

     All options granted under the Plan shall be evidenced by written agreement
(which need not be identical) in such form as the Committee shall determine.
Each option agreement shall specify whether the option granted thereunder is
intended to constitute an Incentive Stock Option or a Non-qualified Stock
Option.

15.  Transfer Restrictions

     Shares of Stock purchased under the Plan and held by any person who is an
officer or Director of the Company, or who directly or indirectly controls the
Company, may not be sold or otherwise disposed of except pursuant to an
effective registration statement under the Securities Act of 1933 or except in a
transaction in compliance with Rule 144 under such Act or other transaction
which, in the opinion of counsel for the Company, is exempt from registration
under such Act. The Committee may waive the foregoing restrictions in whole or
in part in any particular case or cases, or may terminate such restrictions,
whenever the Committee determines that such restrictions afford no substantial
benefit to the Company.

16.  Amendment of Plan

     Shareholder approval is required for any amendment of the Plan.

17.  Termination of Plan

     The Board shall have the right to suspend or terminate the Plan at any
time; provided, however, that no Incentive Stock Options may be granted after
the tenth (10th) anniversary of the effective date of the Plan as described in
paragraph 2 hereof. Termination of the Plan shall not affect the rights of
Employees or Directors under options previously granted to them, and all
unexpired options shall continue in force and operation after termination of the
Plan except as they may lapse or be terminated by their own terms and
conditions.

                                       5
<PAGE>

18.  Tax Withholding

     (a) The Company may deduct and withhold from any cash otherwise payable to
an Employee such amount as may be required for the purpose of satisfying the
Company's obligation to withhold federal, state or local taxes as the result of
the exercise of an option. In the event the amount so withheld is insufficient
for such purpose, the Company may require that the Employee pay to the Company
upon its demand or otherwise make arrangements satisfactory to the Company for
payment of such amount as may be requested by the Company in order to satisfy
its obligation to withhold any such taxes.

     (b) An Employee may be permitted to satisfy the Company's withholding tax
requirements by electing to have the Company withhold shares of Stock otherwise
issuable to the Employee or to deliver to the Company shares of Stock having a
fair market value on the date income is recognized pursuant to the exercise of
an option equal to the amount required to be withheld. The election shall be
made in writing and shall be made according to such rules and procedures as the
Committee may determine.

19.  Rights as a Shareholder

     A Director or an Employee shall have no rights as a shareholder with
respect to any shares subject to any option until the date the options shall
have been exercised, the shares shall have been fully paid and a stock
certificate shall have been issued.

20.  Miscellaneous

     The grant of any option under the Plan may also be subject to other
provisions as the Committee determines appropriate, including, without
limitation, provisions for (a) one or more means to enable Employees to defer
recognition of taxable income relating to options; (b) the purchase of Stock
under options in installments; and (c) compliance with federal or state
securities laws and stock exchange requirements.

                                       6

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