Document:

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                                                                   EXHIBIT 10.16

                          HILLENBRAND INDUSTRIES, INC.
                       STOCK AWARD IN LIEU OF PERQUISITES
                           (EFFECTIVE _______, 200__)

                           1. Purpose. The purpose of the Hillenbrand
Industries, Inc. Stock Award (hereinafter called the "Award") is to promote
profitability and growth of Hillenbrand Industries, Inc. (the "Company") by
offering an incentive payable in Company common stock to _____________
("Employee") who contributes to such profitability and growth.

                           2. Amount of Award. The Company shall cause an
account to be established in the name of the Employee ("Deferred Stock Account")
which shall be assumed to be invested in _______ (________) shares of common
stock, no par value of the Company ("Common Stock"). No actual shares of Common
Stock shall be held in the Deferred Stock Account, and the number of shares of
Common Stock maintained in the Deferred Stock Account ("Deferred Stock") shall
be a book entry which states the number of shares of Common Stock the Employee
would have a right to receive in accordance with the terms of this Award. Any
cash dividend paid on Common Stock by the Company while the Deferred Stock
Account exists will be assumed to be paid on the Deferred Stock in the Deferred
Stock Account and shall be assumed to be reinvested in Common Stock on the date
of such dividend payment, thereby increasing the number of shares of Deferred
Stock maintained in the Deferred Stock Account. Any stock dividends, stock
splits and other similar rights inuring to Common Stock shall also be assumed to
inure to the Deferred Stock, which may increase or decrease the number of shares
of Deferred Stock in the Deferred Stock Account.

If Employee's employment with the Company or any of its Subsidiaries (as defined
in the Plan) continues uninterrupted from the effective date of this Award
through the day after the first anniversary of such effective date, the
percentage as set forth below of the Deferred Stock maintained in the Deferred
Stock Account, shall be non-forfeitable ("Vested Deferred Stock"), and the
Company shall, subject to his election to defer receipt, deliver to him shares
of Common Stock equal in number to the number of shares of Deferred Stock which
became Vested Deferred Stock on the day after such first anniversary date as
follows:

<TABLE>
<S>                                                          <C>
    The day after the first anniversary date of the          100% of the nonvested Deferred Stock in
    effective date of this Award                             the Deferred Stock Account
</TABLE>

Any Deferred Stock maintained in the Deferred Stock Account which is not Vested
Deferred Stock shall, upon the Employee's termination of employment shall be
forfeited by Employee without the payment of any consideration or further
consideration by the Company, and neither Employee nor any successors, heirs,
assigns, or legal representatives of Employee shall thereafter have any further
rights or interest in such forfeited Deferred Stock. Any fractional shares of
Vested Deferred Stock shall be rounded up to the next whole share of Vested
Deferred Stock.

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Notwithstanding the schedule set forth above, Deferred Stock maintained in the
Deferred Stock Account shall become Vested Deferred Stock upon (A) the
occurrence of any one of the following events after the day after the first
anniversary date of the effective date of this Award: (i) termination of
Employee's employment with the Company, one of its Subsidiaries (as defined in
the Plan) or one of their respective divisions by reason of retirement after
attaining age fifty-five (55) and completion of five (5) years of employment, or
(ii) termination of Employee's employment with the Company, one of its
Subsidiaries or one of their respective divisions by reason of disability, as
determined by the Compensation and Management Development Committee of the
Company's Board of Directors (the "Committee"), or death, or (B) the occurrence
of (i) a Change in Control (as defined in Section 14.2 of the Plan),or (ii) a
sale, transfer or disposition of substantially all of the assets or capital
stock of a Subsidiary (as defined in the Plan) or division of the Company or one
of its Subsidiaries for whom the Employee is employed at the time of such sale.
Temporary absences from employment because of illness, vacation or leave of
absence and transfers among the Company and/or any of its Subsidiaries shall not
be considered terminations of employment. For purposes of this Agreement and the
Plan, the Committee shall have absolute discretion to determine the date and
circumstances of termination of Employee's employment, and its determination
shall be final, conclusive and binding upon Employee.

The shares of Common Stock delivered to the Employee shall be from shares held
by the Company as treasury stock or from shares of Common Stock acquired by the
Company in the open market. Subject to the Employee's election to defer, all
shares of Common Stock to be delivered to the Employee shall be delivered as
soon as administratively possible after the day after the corresponding
anniversary date or as soon as administratively possible after the Employee's
termination of employment or after the occurrence of the events described in
clauses (B) (i) and (ii) in the immediate foregoing paragraph of this Section.

                           3. Administration of the Award. The Committee shall
administer the Award. The Committee shall have complete and full discretion in
the administration and interpretation of the terms of the Award.

                           4. Right to Defer Payment of Award.

                           (a) Election to Defer Award. The Employee may elect
to defer payment of the Award otherwise due on the first anniversary date set
forth in Section 2 by completing a written election and delivering such election
to the Company at least sixty (60) days prior to such first anniversary date;
provided however, that the completion of such written election and the delivery
of such election may be at an earlier date as determined by the Committee or
required by law to insure the validity of such deferral. At the end of the
deferral period elected by the Employee (or within a certain period of time
after the last day of the deferral period as determined by the Committee or
required by law to insure the validity of the deferral) or, if earlier, within
sixty (60) calendar days of the date on which the Employee's employment is
terminated, the Company, consistent with Section 2 and subject to Section 6, 7
and 8 shall deliver to the Employee shares of Common Stock equal in number to
the number of Vested Deferred Stock held in the Employee's Deferred Stock
Account.

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                           (b) Financial Hardship. A withdrawal from the
Employee's Deferred Stock Account of Vested Deferred Stock shall be permitted
prior to the termination of the deferral period in the event that the Employee
experience serious financial hardship which is beyond the Employee's control and
which would cause the Employee a severe hardship if such withdrawal were not
permitted. Serious financial hardship may be incurring a disability or
unexpected and unreimbursed major expenses resulting from illness or accident or
impending bankruptcy. The Employee must apply to the Committee for a serious
financial hardship withdrawal and demonstrate that the circumstances being
experienced were not under the Employee's control and constitute a real
emergency which is likely to cause great financial hardship. The Committee shall
have the authority to require such medical or other evidence as it may need to
determine the necessity for the Employee's withdrawal request. If such
application for withdrawal is permitted, the amount of such withdrawal shall be
limited to an amount of the Employee's Vested Deferred Stock which would have
been payable if the Employee's employment with the Company was terminated. If
the Employee makes a withdrawal, the amount of the Employee's Deferred Stock
Account under this Award shall be proportionately reduced to reflect the
withdrawal. Also, the withholding requirements described in Section 7 shall also
be effected before the withdrawal.

                           5. No Rights as Stockholder. Employee shall have no
rights as a stockholder with respect to any shares of Common Stock covered by
this Award until shares of Common Stock are delivered to the Employee pursuant
to the last paragraph in Section 2 and Section 4. Until such time, Employee
shall not be entitled to dividends (except where the Employee's Deferred Stock
Account is adjusted pursuant to the first paragraph of Section 2) or to vote at
meetings of the stockholders of the Company.

                           6. Compliance With Securities Laws. Prior to the
receipt of any certificates for shares of Common Stock pursuant to this Award,
Employee (or Employee's beneficiary or legal representative upon Employee's
death or disability) shall enter into such additional written representations,
warranties and Awards as the Company may reasonably request in order to comply
with applicable securities laws or with this Award.

                           7. Stock Ownership Guidelines. Employee (or
Employee's beneficiary or legal representative upon the Employee's death or
disability) shall be bound by the "Stock Ownership Guidelines" of the Company as
may be in effect from time to time.

                           8. Withholding. Any payment of Common Stock under
this Award shall be subject to applicable federal and state withholding
requirements. Hence, unless the Employee delivers a check to the Company equal
to the required withholding, the number of shares distributed shall be reduced
to meet the Employee's applicable withholding requirements.

                           9. Designation of Beneficiary. The Employee shall be
permitted to provide to the Committee a beneficiary designation for receipt of
his or her Award after death. If the Employee fails to designate a beneficiary,
or if the designated beneficiary predeceases the Employee, the Award shall be
paid to the deceased Employee's spouse, if living, or if such spouse is not
living, to the deceased Employee's estate.

                                     - 3 -

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                           10. Adjustments. If there is a change in the
outstanding shares of the Common Stock by reason of any stock dividend or split,
recapitalization, merger, consolidation, spin-off, reorganization, combination
or exchange of shares or other similar corporate change occurring after the
effective date of this Award, the Committee shall adjust the number of shares of
Common Stock subject to the Award to reflect the change, and such adjustment
shall be conclusive and binding upon the Employee and the Company.

                           11. Non-Transferability.

                                    (a) The Deferred Stock, the Deferred Stock
Account and the Vested Deferred Stock may not be sold, assigned, transferred,
exchanged, pledged, hypothecated, or otherwise encumbered and no such sale,
assignment, transfer, exchange, pledge, hypothecation, or encumbrance, whether
made or created by a voluntary act of the Employee or any agent of the Employee
or by operation of law, shall be recognized by, or be binding upon, or shall in
any manner affect the rights of, the Company, its successors or any agent
thereof.

                                    (b) No amounts payable under the Award shall
be transferable by the Employee other than by his designation of a beneficiary
pursuant to Section 9. The amounts payable under the Award shall be exempt from
the claims of creditors of the Employee and from all orders, decrees, levies and
executions and any other legal process to the fullest extent that may be
permitted by law.

                           12. Amendments to Award. The Award may only be
modified upon the mutual agreement of the Company and the Employee.

                           13. Source of Benefit Payments. The payment of the
Award to the Employee shall be paid solely from the general assets of the
Company. Until the actual delivery of the shares of Common Stock, the Employee
shall not have any interest in any specific assets of the Company, including
shares of Common Stock, under the terms of the Award. The Award shall not be
considered to create an escrow account, trust fund or other funding arrangement
of any kind, or a fiduciary relationship between the Employee and the Company.
Until such time of payment, no shares of the Common Stock shall be set aside by
the Company for the Award.

                           14. Successors and Assigns.

                                    (a) This Award is personal to the Employee
and without the prior written consent of the Company shall not be assignable by
the Employee except by will or the laws of descent and distribution. This Award
shall inure to the benefit of and be enforceable by the Employee's guardian and
legal representatives.

                                    (b) This Award shall inure to the benefit of
and be binding upon the Company and its successors and assigns.

                                    (c) The Company shall require any successor
(whether direct or indirect, by purchase, merger, consolidation or otherwise) to
all or substantially all of the

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business and/or assets of the Company to assume expressly and agree to perform
this Award in the same manner and to the same extent that the Company would be
required to perform it if no such succession had taken place.

                           15. Award Subject to Plan. This Award is subject to
the terms of the Hillenbrand Industries, Inc. Stock Incentive Plan ("Plan"). The
terms and provisions of the Plan (including any subsequent amendments thereto)
are hereby incorporated herein by reference. In the event of a conflict between
any terms and provisions contained herein and the terms or provisions of the
Plan, the applicable terms or provisions of the Plan will govern and prevail.

                           16. Governing Law. This Award shall be governed by
and construed in accordance with the internal laws of the State of Indiana
without reference to principles of conflict of laws. The captions of this Award
are not part of the provisions hereof and shall have no force or effect. This
Award may not be amended or modified except by a written Award executed by the
parties hereto or their respective successors and legal representatives.

                           17. Severability. The invalidity or unenforceability
of any provision of this Award shall not affect the validity or enforceability
of any other provision of this Award.

                           18. No Waiver. The failure of the Employee or the
Company to insist upon strict compliance with any provision of this Award or the
failure to assert any right the Employee or the Company may have under this
Award shall not be deemed to be a waiver of such provision or right or any other
provision or right of this Award.

                           19. Entire Award. The Employee and the Company
acknowledge that this Award supersedes any prior agreement between the parties
with respect to the subject matter of this Award.

                           20. Counterparts. This Award may be executed in
counterparts, which together shall constitute one and the same original.

Effective Date:  _________, ______

                                       HILLENBRAND INDUSTRIES, INC.

                                       By: ____________________________________
                                       Frederick W. Rockwood, President and
                                       Chief Employee Officer

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                                                                   EXHIBIT 10.17

                                    EXECUTIVE
                              EMPLOYMENT AGREEMENT

                                    PREAMBLE

         This Executive Employment Agreement defines the essential terms and
         conditions of our employment relationship with you. The subjects
         covered in this Agreement are vitally important to you and to the
         Company. Thus, you should read the document carefully and ask any
         questions before signing the Agreement. Given the importance of these
         matters to you and the Company, all executives shall sign the Agreement
         as a condition of employment.

         This Agreement, dated and effective this 27th day of January, 2000,
between Hillenbrand Industries, Inc., an Indiana corporation (the "Company"),
and Frederick W. Rockwood, ("Executive").

                                   WITNESSETH:

         The Company desires to employ Executive as well as to safeguard the
Company against disclosure or use of trade secrets or confidential data and to
obtain a non-compete agreement; and

         In the course of Executive's employment, it will be necessary for
Executive to acquire knowledge of trade secrets and confidential data of the
Company; and

         Executive desires from the Company agreement on certain conditions
regarding his employment and the termination of the employment relationship if
the parties part ways;

         NOW, THEREFORE, in consideration of Executive's employment by the
Company and the other benefits provided Executive under this Agreement and the
mutual covenants herein contained, the parties agree as follows:

1.       Employment. The Company agrees to employ Executive and Executive agrees
         to serve as President of Hillenbrand Industries, Inc. Executive's
         employment with the Company is at-will which means he may terminate his
         employment at any time, for any reason, with or without notice.
         Likewise, the Company has the right to terminate Executive's employment
         at any time for any reason not prohibited by law upon the terms and
         conditions set out in the Agreement. Nothing in this Agreement is
         intended to create and should not be interpreted to create an
         employment contract for any specified length of time between Executive
         and the Company.

2.       Compensation. The Company shall pay Executive for his services,
         compensation as follows:

         (a)      A base salary at the rate of Twenty Thousand One Hundred
                  Ninety-two Dollars and Thirty-one Cents ($20,192.31)
                  bi-weekly, less usual and ordinary deductions, annualized at
                  Five Hundred Twenty-five Thousand Dollars ($525,000).

<PAGE>

         (b)      Incentive compensation, payable solely at the discretion of
                  the Company, pursuant to the Company's Exempt Employee
                  Executive Compensation Program.

         (c)      Such additional compensation, benefits and perquisites as the
                  Company, in its discretion, may deem appropriate.

3.       Duties. Executive shall at all times faithfully and diligently perform
         his obligations under this Agreement and act in the best interest of
         the Company and its affiliated companies including any parent or
         subsidiaries (hereinafter jointly referred to as the "Companies").
         Executive's duties shall be to act in such office or capacity as the
         Company may request from time to time and Executive agrees to perform
         all duties necessary or advisable in order to carry out such functions
         in an efficient manner. Executive's duties and responsibilities at all
         times shall be subject to the authority of the Board of Directors of
         the Company and such officers and agents thereof to whom authority may
         be delegated thereby, and/or curtailed at any time. Executive shall at
         all times devote his full time, best efforts and ability, skill, and
         attention exclusively to the furtherance of the business objectives and
         interests of the Company, all to the exclusion of other employers or
         interests or their products and services. Executive shall not engage in
         any gainful employment other than under this Agreement without the
         prior written consent of the Company. In addition, Executive shall at
         all times act in accordance with the Hillenbrand Industries, Inc.
         Handbook of Ethical Business Conduct and Corporate Compliance Handbook.

4.       Termination of Employment. Because Executive is an at-will employee,
         his employment may be terminated at any time, without cause, by
         Executive or the Company upon sixty (60) days written notice or pay in
         lieu of notice. Executive's employment may be terminated at any time,
         without notice, for cause. For purposes of this Agreement, cause shall
         be defined to include but shall not be limited to things such as
         dishonesty, nonperformance of duties, violation of Company policy or
         procedures, conviction of a felony, violation of the Hillenbrand
         Industries, Inc. Handbook of Ethical Business Conduct, or disloyalty or
         a failure to act or not act in accordance with the direction of the
         Company.

                  If, because of disability, Executive becomes unable to perform
         the essential functions of his position, with or without reasonable
         accommodation, Executive's employment shall be terminated. However,
         Executive may be entitled to benefits under the Company's regular
         fringe benefit programs if he meets the eligibility criteria of such
         programs.

                  If Executive's employment terminates for whatever reason,
         prior to the end of the fiscal year, Executive shall not be entitled to
         any of the compensation, benefits and perquisites identified in
         Paragraphs 2(b) and (c) above for any portion of such fiscal year which
         have not already been paid to Executive as of the date of his
         separation.

5.       Severance Payments. Subject to the terms and conditions set out below,
         if Executive's employment with the Company is terminated without cause,
         the Company shall pay Executive severance pay based upon his base
         salary at the time of termination for a period figured in accordance
         with any guidelines established by the Company or six (6) months,
         whichever is longer, but in no event shall severance payments exceed
         twelve (12) months.

                  No severance pay shall be paid if Executive voluntarily leaves
         the Company's employ or is terminated for cause.

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                  Moreover, any severance pay payable hereunder shall be offset
         against any amount of notice pay paid pursuant to Paragraph 4 and is
         contingent upon Executive complying with the covenants and agreements
         of Paragraphs 6 through 9 and executing a Settlement and Release
         Agreement in a form not substantially different from that attached to
         the Agreement as Exhibit A.

6.       Protection of the Company's Business. Executive acknowledges that in
         the course of his employment he will acquire knowledge of trade secrets
         and confidential data of the Company. Such trade secrets and
         confidential data may include but are not limited to confidential
         product information, customer lists, technical information, methods by
         which the Company proposes to compete with its business competitors,
         secret strategic plans, confidential reports prepared by business
         consultants which may reveal strengths and weaknesses of the Company
         and its competition, and similar information relating to the Company's
         products, customers, strategies, and operations, which trade secrets
         and confidential data pertain to its operations throughout the United
         States and the world but maintain their situs in Indiana. In order to
         perform his obligations under this Agreement, Executive must
         necessarily learn such trade secrets and confidential data, all of
         which are extremely important to the Company, are not known outside the
         business of the Company, are known only to a limited group of its top
         executives and directors, are protected by strict measures to preserve
         secrecy, are of great value to the Company, are the result of the
         expenditure of money, time and effort thereby, are difficult for an
         outsider to duplicate, and disclosure of which would be extremely
         detrimental to the Company. Executive agrees to keep all such trade
         secrets or confidential data secret and not to release such information
         to persons not authorized by the Company to receive such secrets and
         data, both during his employment with the Company and at all times
         thereafter. Executive acknowledges that trade secrets and confidential
         data need not be expressly marked as such by the Company.

7.       Documents, Inventions, Etc. All records, files, drawings, documents,
         equipment, and the like relating to the Company shall be and remain the
         sole property of the Company. If Executive's employment with the
         Company ends for any reason, Executive shall immediately return to the
         Company all such items without keeping any copies. Executive shall
         fully and promptly disclose to the Company all ideas, conceptions,
         inventions, discoveries, and designs conceived or contemplated by him
         which relate directly, indirectly or in any way to any of the products
         and/or services provided or contemplated by the Companies or any
         extensions thereof (whether alone or with others and whether patentable
         or unpatentable hereinafter called "Inventions") and shall assign to
         the Company his entire right, title and interest in and to the
         Inventions. Executive shall take all reasonable action requested by the
         Company to protect, obtain title to and/or patent in any country in the
         name of the Company or its nominee, any of such Inventions, including
         execution and delivery of all applications, assignments and other
         papers deemed necessary by the Company, provided he is reimbursed
         reasonable expenses incurred by him in so doing.

8.       Limited Non-Competition. During Executive's employment and thereafter
         if said employment should end for whatever reason, it is very important
         to the Company to protect its legitimate business interests by
         restricting Executive's ability to compete with the Company in a
         limited manner. Therefore, this provision is drafted narrowly so as to
         be able to safeguard the Company's legitimate business interests while
         not unreasonably interfering with Executive's ability to obtain
         alternate employment. Executive acknowledges that this limited
         non-competition provision is not an attempt to prevent him from
         obtaining other employment.

         (a)      During At-Will Employment By Company. During Executive's
                  employment by the Company, Executive shall not, directly or
                  indirectly, have any ownership

                                      -3-
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                  interest in, work for, advise, manage, or act as an agent or
                  consultant for, or have any business connection or business or
                  employment relationship with any person or entity that
                  competes with the Company or that contemplates competing with
                  the Company without the prior written approval of an executive
                  officer of the Company.

         (b)      During Two Year Post-Employment Period. For a period of two
                  (2) years after Executive's separation from the Company
                  (regardless of the reason for the separation), he shall not:

                  (i)      directly or indirectly have any ownership interest in
                           any entity or person engaged in research,
                           development, production, sale or distribution of a
                           product or service which competes with or is
                           substantially similar to any product or service in
                           research, development or design, or manufactured,
                           produced, sold or distributed by the Company, within
                           the geographical area in which Executive has been
                           performing services on behalf of the Company or for
                           which he has been assigned responsibility at anytime
                           within the twenty-four (24) months preceding his
                           separation.

                  (ii)     within the geographical area in which Executive has
                           been performing services on behalf of the Company or
                           for which he has been assigned responsibility at
                           anytime within the twenty-four (24) months preceding
                           his separation, directly or indirectly in any
                           competitive capacity, work for, advise, manage, or
                           act as an agent or consultant for or have any
                           business connection or business or employment
                           relationship with any entity or person engaged in
                           research, development, production, sale or
                           distribution of a product or service which competes
                           with or is substantially similar to any product or
                           service in research, development or design, or
                           manufactured, produced, sold or distributed by the
                           Company.

                  (iii)    directly or indirectly market, sell or otherwise
                           provide any products or services which are
                           competitive with or substantially similar to any
                           product or service in research, development or
                           design, or manufactured, produced, sold or
                           distributed by the Company, to any customer of the
                           Company with whom Executive has had contact (either
                           directly or indirectly) or over which he has had
                           responsibility at any time during the twenty-four
                           (24) months preceding his separation.

         (c)      In the event that Executive worked for the Company less than a
                  total of twenty-four (24) months prior to separation, the
                  limited non-competition of sections 8(b)(i) - (iii) above
                  shall remain in effect the longer of --

                  (i)      six (6) months, or

                  (ii)     the term of Executive's employment with the Company
                           (e.g., if Executive worked for the Company for ten
                           (10) months, the limited non-competition provisions
                           apply for ten (10) months post separation).

         (d)      Executive acknowledges that after termination of this
                  Agreement, he will inevitably possess trade secrets and
                  confidential data of the Company which he would inevitably use
                  if he were to engage in conduct prohibited as set forth above
                  and such use would be unfair to and extremely detrimental to
                  the Company and in view of the benefits provided him in this
                  Agreement, such conduct on his part would be inequitable.
                  Accordingly, Executive separately and

                                      -4-
<PAGE>

                  severally covenants for the benefit of the Company to keep
                  each of the covenants described in the foregoing provisions of
                  Paragraph 8 above throughout the two year period specified
                  above.

         (e)      Publicly Traded Stock. Nothing in the foregoing provisions of
                  Paragraph 8 prohibits Executive from purchasing for investment
                  purposes only, any stock or corporate security traded or
                  quoted on a national securities exchange or national market
                  system, so long as such ownership does not violate the
                  Hillenbrand Industries, Inc. Handbook of Ethical Business
                  Conduct.

         (f)      Maximum Application. The parties expressly agree that the
                  terms of this limited non-competition provision under
                  Paragraph 8 are reasonable and necessary to protect the
                  Company's interests, and are valid and enforceable. In the
                  unlikely event, however, that a court of competent
                  jurisdiction were to determine that any portion of this
                  limited non-competition provision is unenforceable, then the
                  parties agree that the remainder of the limited
                  non-competition provision shall remain valid and enforceable
                  to the maximum extent possible.

9.       Other Limited Prohibitions. During Executive's employment by the
         Company and for two (2) years post-separation (for whatever reason) or
         the length of Executive's tenure whichever is less (but in no event
         less than six (6) months), Executive shall not:

         (a)      Request or advise any customer of the Company, or any person
                  or entity having business dealings with the Company, to
                  withdraw, curtail or cease such business with the Company;

         (b)      Disclose to any person or entity the identities of any
                  customers of the Company, or the identity of any persons or
                  entities having business dealings with the Company; or

         (c)      Directly or indirectly influence or attempt to influence any
                  other employee of the Company to separate from the Company.

10.      Specific Enforcement/Injunctive Relief. Executive agrees that it would
         be difficult to measure damages to the Company from any breach of the
         covenants contained in Paragraphs 6 through 9, but that such damages
         from any breach would be great, incalculable and irremedial, and that
         damages would be an inadequate remedy. Accordingly, Executive agrees
         that the Company may have specific performance of the terms of this
         Agreement in any court having jurisdiction. In addition, if Executive
         violates the provisions of Paragraphs 8 or 9, Executive agrees that any
         period of such violation shall be added to the term of the restriction.
         For example, if Executive violates the non-competition provision for
         three months, the Company shall be entitled to enforce the
         non-competition provision for two years and three months
         post-separation. In determining the period of any violation, the
         parties stipulate that in any calendar month in which Executive engages
         in any activity violative of the provisions of Paragraphs 8 or 9,
         Executive is deemed to have violated such provision for the entire
         month, and that month shall be added to the duration of the
         non-competition provision as set out above. The parties agree however,
         that specific performance and the "add back" remedies described above
         shall not be the exclusive remedies, and the Company may enforce any
         other remedy or remedies available to it either in law or in equity
         including but not limited to temporary, preliminary, and/or permanent
         injunctive relief.

11.      Severability. If any provision of this Agreement is held invalid, such
         invalidity shall not affect the other provisions of this Agreement
         which shall be given effect independently of the invalid provisions;
         and, in such circumstances, the invalid provision is severable.

                                      -5-
<PAGE>

12.      Titles. Titles are used for the purpose of convenience in this
         Agreement and shall be ignored in any construction of it.

13.      Governing Law. This Agreement shall be construed in accordance with the
         laws of the State of Indiana. The parties expressly agree that it is
         appropriate for Indiana law to apply: (1) to the interpretation of this
         Agreement; (2) to any disputes arising out of this Agreement; and (3)
         to any disputes arising out of the employment relationship of the
         parties.

14.      Choice of Forum. The Company is based in Indiana, and Executive
         understands and acknowledges the Company's desire and need to defend
         any litigation against it in Indiana. Accordingly, the parties agree
         that any claim of any type brought by Executive against the Company or
         any of its employees or agents must be maintained only in a court
         sitting in Marion County, Indiana, or Ripley County, Indiana, or, if a
         federal court, the Southern District of Indiana, Indianapolis Division.

                  Executive further understands and acknowledges that in the
         event the Company initiates litigation against him, the Company may
         need to prosecute such litigation in his forum state, in the State of
         Indiana, or in such other state where Executive is subject to personal
         jurisdiction. Accordingly, the parties agree that the Company can
         pursue any claim against Executive in any forum in which Executive is
         subject to personal jurisdiction. Executive specifically consents to
         personal jurisdiction in the State of Indiana, as well as any state in
         which resides a customer assigned to him.

15.      Successors and Assigns. The rights and obligations of the Company under
         this Agreement shall inure to its benefit, its successors and
         affiliated companies and shall be binding upon the successors and
         assigns of the Company. This Agreement, being personal to Executive,
         cannot be assigned by Executive, but his personal representative shall
         be bound by all its terms and conditions.

16.      Waiver and Amendments, Etc. Failure of the Company to insist upon
         strict compliance with any terms or provisions of this Agreement shall
         not be deemed a waiver of any terms, provisions or rights of the
         Company. Moreover, no modifications, amendments, extensions or waivers
         of this Agreement or any provisions hereof shall be binding upon the
         Company or Executive unless in writing and signed by Executive and the
         Company.

17.      Complete Agreement. This Agreement constitutes the entire employment
         agreement of the parties and supersedes all prior employment agreements
         addressing the terms, conditions, and issues contained herein. Nothing
         in this Agreement, however, affects any separate written agreements
         addressing other terms and conditions and issues (by way of example
         only, the Inventions, Improvements, Copyrights and Trade Secrets
         Agreement).

         IN WITNESS WHEREOF, the parties have signed this Agreement effective as
of the day and year first above written.

EXECUTIVE                                    HILLENBRAND INDUSTRIES, INC.

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

                                      -6-
<PAGE>
                                                                       Exhibit A

                        SETTLEMENT AND RELEASE AGREEMENT

         THIS SETTLEMENT and RELEASE AGREEMENT (the "Agreement") is entered into
by and between ___________ ("(1)") and (2) ("Company"). The parties agree to the
following:

1.       (1)'s active employment by the Company shall terminate effective (3).
         All Company benefits shall terminate on that date except as otherwise
         specifically stated below. (1) and the Company desire to compromise and
         settle any and all claims which (1) may have against the Company. The
         Company specifically denies and this Agreement shall not in any way be
         construed as an admission of, any liability to or any wrongful conduct
         against (1) or any other person.

2.       In exchange for and in consideration of the promises contained in this
         Agreement and contingent upon (1)'s compliance with such promises,
         including but not limited to the promises contained in Paragraphs ___
         through ___ below, the Company agrees to pay (1) (i) a severance pay
         benefit, inclusive of any notice pay obligations ("Severance Pay"),
         equal to the bi-weekly rate of ____________, less usual and ordinary
         deductions, beginning on the effective date of this Agreement and
         continuing for a period of ___ weeks or until (1) is re-employed,
         whichever first occurs; (ii) for ___ of earned but unused vacation as
         of (3); and (iii) life insurance coverage until Severance Pay
         terminates. As of (3), (1) is ineligible to participate in the
         Company's health insurance program and continuation of coverage
         requirements under COBRA will be triggered at that time. However, as
         additional consideration for the promises and obligations contained
         herein, the Company further agrees to pay the cost of continued
         coverage under the Company's health care program until Severance Pay
         terminates. Thereafter, if applicable, coverage will be made available
         to (1) at his sole expense for the remaining months of the extended
         coverage period pursuant to applicable law under COBRA. The medical
         insurance provided herein does not include any disability coverage. The
         benefits described in this Paragraph reflect consideration provided to
         (1) in addition to anything of value to which (1) already is entitled.

3.       It is understood by the parties that unless it is specifically stated
         otherwise, nothing in this Agreement shall affect any rights (1) may
         have under any Profit Sharing and Savings Plan (401(k)) and/or Pension
         Plan provided by the Company as of the date of his termination.

4.       In return for the promises contained in Paragraph 2, (1) shall and does
         hereby RELEASE, INDEMNIFY, HOLD HARMLESS, and FOREVER DISCHARGE THE
         COMPANY, its parent, subsidiaries or affiliates, and all of the
         Company's present or former employees, officers, servants, agents,
         stockholders and directors from any and all claims, demands, actions or
         causes of action on account of, arising out of or in any way connected
         with (a) (1)'s employment with the Company, (b) (1)'s leaving of that
         employment, (c) all matters alleged or which could have been alleged in
         a charge or complaint against the Company, (d) any and all injuries,
         loss or damages to (1), including any claims for attorney's fees, (e)
         any and all claims relating to the conduct of any employee, officer,
         director, or agent of the Company, and (f) any and all matters,
         transactions or things occurring prior to the date of signing the
         Agreement, including any and all possible claims, known or unknown,
         which could have been asserted against the Company or the Company's
         employees, agents, officers, stockholders or directors. This release
         shall not apply to claims that may arise after (1) signs this
         Agreement.

5.       The release contained in Paragraph 4 includes, but is not limited to,
         any claims arising under federal, state or local laws relating to
         employment discrimination or harassment,

<PAGE>

         including any claims of discrimination based on age, disability,
         handicap, national origin, race, religion or sex, any claims growing
         out of any legal restrictions on an employer's right to separate its
         employees and any claims for personal injury, compensatory or punitive
         damages. This release includes, but is not limited to, any claims (1)
         may have under the Civil Rights Acts of 1866 and 1964, as amended, 42
         U.S.C. Sections 1981 and 2000(e) et seq.; the Civil Rights Act of 1991;
         the Age Discrimination in Employment Act, as amended, 29 U.S.C.
         Sections 621 et seq.; the Americans with Disabilities Act of 1990, as
         amended, 42 U.S.C. Sections 12,101 et seq.; the Fair Labor Standards
         Act 29 U.S.C. Sections 201 et seq.; and any other discrimination,
         harassment or employment related law, rule or regulation or any federal
         or state statute or common law doctrine regarding (i) the existence or
         breach of oral or written contracts of employment, (ii) negligent or
         intentional misrepresentations, (iii) wrongful discharge, (iv) just
         cause dismissal, (v) defamation, (vi) interference with contract or
         (vii) negligent or intentional infliction of emotional distress.

6.       (1) hereby affirms and acknowledges the post-termination covenants
         contained in his Employment Agreement with the Company, including but
         not limited to, the non-compete, trade secret and confidentiality
         provisions. A copy of the Employment Agreement is attached to this
         Agreement as Exhibit A and incorporated herein.

7.       On or before (3), (1) shall return to the Company any and all things in
         his possession or control relating to Company business, including but
         not limited to all Company credit cards, office equipment, personal
         computer, fax machine, pager, phone, correspondence, reports, vendor or
         supplier contracts, ledger sheets or other financial information,
         drawings, plans (including, but not limited to business and marketing
         plans), personnel or labor relations files, office keys, manuals,
         sample contracts and any other documents or things pertaining to the
         Company, including but not limited to any copies of the foregoing
         documents that are or may have been in (1)'s possession or control.

                  Furthermore, (1) shall not give, sell, make available or
         otherwise share any documents described above to or with any third
         party without the express written consent of the Company.

                  Finally, (1) expressly acknowledges that this Paragraph 7 is
         intended to cover all documents and other things that (1) created,
         controlled or came into contact with during his employment with the
         Company and that are directly or indirectly related to the Company,
         including but not limited to all documents and other things that (1)
         may have previously given, loaned or otherwise made available for other
         individuals or entities.

8.       (1) shall not discuss with any individual proprietary or confidential
         information regarding the Company. Further, (1) shall not make any
         written or oral statement that may defame, disparage or cast in a
         negative light so as to do harm to the personal or professional
         reputation of (a) the Company, (b) the employees, officers, directors
         or trustees of the Company or (c) the services and/or products provided
         by the Company and its subsidiaries.

9.       If any portion of this Agreement should be, for any reason, not
         enforceable, the parties agree that the remaining portion or portions
         should continue to be enforceable. Moreover, if (1) pursues any claims
         of any type against Company, (1) agrees to immediately return all
         consideration provided by Company as part of this Agreement.

10.      (1) agrees and understands that this Agreement is confidential. He
         shall not communicate, display or otherwise reveal any of the contents
         of this Agreement except by written consent of the Company. (1)
         acknowledges that confidentiality is a

                                      -2-
<PAGE>
         substantial inducement for Company to enter into this Agreement, and
         that there is consideration for this confidentiality provision in terms
         of the consideration set forth in Paragraph 2. For violations of this
         confidentiality provision, (1) acknowledges that injunctive relief and
         damages can be awarded to Company.

11.      Each of the promises and obligations shall be binding upon and shall
         inure to the benefit of the heirs, executors, administrators, assigns
         and successors in interest of each of the parties.

12.      This Agreement shall be governed by and interpreted in accordance with
         the laws of the State of

13.      (1) also acknowledges that he has been advised of his right to discuss
         all aspects of this Agreement with his private attorney prior to
         signing this Agreement and further that he has carefully read and fully
         understands all of the provisions of this Agreement, and that he is
         knowingly and voluntarily entering into this Agreement.

14.      (1) represents and agrees that he has been given a period of at least
         ____________ (___) calendar days, prior to signing this Agreement, to
         consider this Agreement. (1) and Company further agree that (1) may
         accept the terms of this Agreement prior to the expiration of the ___
         calendar days. Additionally, (1) understands that he has a period of
         seven (7) calendar days after signing this Agreement to revoke it. If
         (1) does not advise the Company (by a writing received by Company
         within such seven (7) day period) of his intent to revoke the
         Agreement, the Agreement will become effective and enforceable upon the
         expiration of the seven (7) days. THIS AGREEMENT SHALL NOT BECOME
         EFFECTIVE OR ENFORCEABLE UNTIL THE REVOCATION PERIOD HAS ENDED.

15.      This Agreement represents the entire agreement between the parties;
         there are no other written or oral agreements between the parties. (1)
         represents and acknowledges that in signing this Agreement he does not
         rely, and has not relied, upon any representation or statement made by
         the Company or by any of the Company's employees, officers, agents,
         stockholders, directors or attorneys with regard to the subject matter,
         basis or effect of this Agreement or otherwise.

               PLEASE READ CAREFULLY. THIS SETTLEMENT AND RELEASE
                  AGREEMENT INCLUDES A COMPLETE RELEASE OF ALL
                            KNOWN AND UNKNOWN CLAIMS.

         The parties have each executed this Agreement on the dates indicated
opposite their names.

Dated:
       -----------------------             --------------------------------
                                           (1)

                                           (2)

Dated:                                     By:
       -----------------------                 ----------------------------

                                           Title:
                                                  -------------------------

                                      -3-
<PAGE>
December 22, 2003

Frederick W. Rockwood
Hillenbrand Industries, Inc.
700 State Route 46 East
Batesville, Indiana 47006

Dear Fred:

Re: Amendment to Employment Agreement

         This is to confirm that, notwithstanding anything in Paragraphs 4 and 5
of the Employment Agreement dated January 27, 2000, between you and Hill-Rom,
Inc, Inc. ("Company") (hereinafter "Employment Agreement"), in the event your
employment is involuntarily terminated by the Company without cause, you shall,
subject to the terms and conditions set out below, be entitled to receive the
greater of:

         (i)      (a) Fifty-two (52) weeks of your base salary at the time of
                  termination paid as a lump sum, without set off for any other
                  income over and above such severance or any Accrued
                  Obligations and (b) any Accrued Obligations; or

         (ii)     (a) Severance pay determined in accordance with any guidelines
                  established by the Company, without set off for any other
                  income over and above such severance or any Accrued
                  Obligations and (b) any Accrued Obligations;

"Accrued Obligations" collectively refers to accrued wages, deferred
compensation, or other compensation, benefits, or perquisites which have been
fully paid or fully accrued as of the effective date of your separation, in
accordance with the Company's past practice and applicable law.

This severance pay will be in lieu of, and not in addition to, any amount of
severance pay previously described in Paragraph 5 of your Employment Agreement
as payable to you in the event your employment with the Company is involuntarily
terminated without cause.

<PAGE>

No severance pay shall be paid if you voluntarily leave the Company's employ or
are terminated for cause. Any severance pay made payable hereunder shall be paid
in lieu of, and not in addition to, any notice pay.

Additionally, such severance pay is contingent upon you (1) fully complying with
any restrictive covenants contained in your Employment Agreement and (2)
executing a Settlement and Release Agreement in a form not substantially
different from that attached to your Employment Agreement as Exhibit A
("Separation Agreement") and including the terms contained in this Amendment.

Except to the extent explicitly amended herein, all terms and conditions
contained in your Employment Agreement, in any document specifically
incorporated therein by reference, and in any other agreement between you and
the Company, shall remain in full force and effect.

Sincerely,

Patrick D. de Maynadier
Vice President
Hillenbrand Industries, Inc.

THIS AMENDMENT IS MADE PART OF AND SHOULD BE KEPT WITH YOUR EMPLOYMENT AGREEMENT

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