Document:

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                         MANAGEMENT SERVICES AGREEMENT

This Management Services Agreement ("Agreement") is entered into this 21st day
of December, 1999, by and between AM General Corporation and AM General Sales
Corporation (collectively "AMG"); and General Motors Corporation ("GM") and
shall be effective as of January 1, 2000.

                                   RECITALS

A.   GM and AM General have entered into a series of contractual commitments
through which the parties shall, among other things; design, assemble, market
and distribute products bearing the "HUMMER" brand.

B.   AMG currently manufactures and distributes one vehicle and derivatives
thereof (as listed on Exhibit A) for non-military application (the "Current
Vehicle"), which is distributed through a network of independently owned and
operated dealerships pursuant to  Hummer Dealer Agreements between AMG and each
of the dealers listed on Exhibit B (Existing Dealers).

C.   The parties intend to assess the capabilities of the Existing Dealers to
adequately support both a) the future distribution, sale and servicing of the
number of additional Current Vehicles expected to be distributed by AMG and b)
the additional vehicles which the parties expect to be distributed by GM and
sold as "HUMMER" branded vehicles, beginning in or about the 2002 calendar year
("Future Product").

D.   AMG wishes to retain the services of GM to manage and administer AMG's
Existing Dealers pursuant to the terms of the Hummer Dealer Agreement, and to
otherwise provide the sales and marketing support services described in this
Agreement, until the time when Future Products are ready for distribution.

E.   GM is willing to provide such services in accordance with the terms set
forth in this Agreement.

NOW, THEREFORE, in consideration of the premises and mutual covenants contained
herein and for other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereto agree as
follows:

                                   SECTION 1

                   MANAGEMENT SERVICES TO BE PROVIDED BY GM

1.1  Engagement.  In reliance upon GM's skill and experience in establishing,
     ----------
maintaining and administering dealer distribution networks for motor vehicles
and related field operations, AMG hereby engages GM as the exclusive provider of
the services described in this Agreement related to the sales and distribution
of the Current Vehicle.

1.2  Services.  Services which GM will provide, except as otherwise noted, shall
     --------
include:

     (a)  The following functions currently performed by AMG's Marketing and
     Communications Department:

          (i)   Movie placement: AMG will make available additional vehicles to
                GM for movie placement at a mutually agreed upon price. GM will
                pay movie placement fees.
          (ii)  Public Relations, including media relations, press fleet
                management, and media kits

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          (iii)  Advertising, including ad planners, ad production, videos,
                 brochure, website management, media placements, market/customer
                 research, agency fees
          (iv)   Dealer co-op advertising program administration.
          (v)    Shows and Exhibits
          (vi)   Miscellaneous photos, printing and merchandise
          (vii)  Licensing, subject to the terms of the Royalty Sharing
                 Agreement by and between the parties dated December 21, 1999.
          (viii) AMG will continue to provide vehicles as listed on Exhibit C,
                 at its own expense.

     (b)  The following functions currently performed by AMG's Fleet Department:

          (i)  Professional services, such as personnel and travel
          (ii) Set up costs and fees for special shows

     (c)  AMG will continue to handle the day-to-day business handled by AMG's
     Sales and Dealer Operations Department.  GM will provide support and
     guidance with respect to the sales service, and network planning functions.
     AMG will also continue to be directly responsible for the expenses
     associated with these functions.

          (i)    Department administration, including salaries and travel
                 expenses for department personnel
          (ii)   Training for the Current Vehicle
          (iii)  International sales administration

     (d)  The foregoing provisions notwithstanding, AMG's Warranty Department
     shall remain in tact and AMG will be solely responsible for the payment of
     all warranty claims. Additionally, AMG will continue to be directly
     responsible for the expenses associated with these functions.

1.3       Dealer Network.  Insofar as the payments GM receives under this
          --------------
Agreement are contingent upon Current Vehicle sales, it is in GM's and AMG's
mutual interest to strengthen AMG's dealer network.  In order to achieve this
desired result, GM and AMG mutually agree to follow the processes set forth in
Exhibit D.

1.4       Dealer Communication System.  GM will assume responsibility for the
          ---------------------------
AMG Dealer Communication System ("System") with respect to the ordering of the
Current Vehicle on or before the introduction of Future Product.  GM may change
this System, or implement a new system, subject to AMG's agreement concerning
the allocation of costs, if any are to be borne by AMG.

1.5       Standard of Performance.  GM agrees to perform hereunder in accordance
          -----------------------
with its customary business practices when performing similar functions with
respect to its own distribution network.  Subject to the terms of this
Agreement, GM shall have reasonable discretion in carrying out its
responsibilities hereunder.

1.6       Consultation with AMG.  GM will regularly consult with AMG regarding
          ---------------------
the services which GM will provide under this Section 1, and will keep AMG
informed of the status of those services.  If AMG believes that GM is not acting
in accordance with the objectives specified herein in executing its
responsibilities hereunder, then AMG shall so advise GM, and the parties shall
utilize their reasonable best efforts consistent with the principles of good
faith and fair dealing to reach a mutually acceptable resolution, consistent
with those objectives.

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1.7       Transition of Responsibility. In order to provide the smooth and
          ----------------------------
seamless transition of the responsibility for performance of the services set
forth above from AMG (and/or the current provider of such services) to GM, the
parties will work together in good faith to establish a mutually acceptable
transition schedule consistent with Exhibit E to this Agreement that comprehends
the ramp up of GM's performance of the services contemplated above as various
contracts that AMG may already have in place with third parties for the
performance of such services either expire or are terminated.

1.8       Payments to GM.  Payments to GM under this Agreement shall be made in
          --------------
accordance with Exhibit E.

1.9       Additional Services.   The parties periodically may agree to have GM
          -------------------
perform additional services under this Agreement on mutually acceptable terms
and conditions.

                                   SECTION 2

                            AMG's RESPONSIBILITIES

2.1  Products. (a) All responsibility for the development, design and
     --------
     manufacture of the Current Vehicle shall remain with AMG, as will terms and
     conditions of sale of the Current Vehicle to dealers operating under the
     existing Hummer Dealer Agreement. AMG and GM will evaluate and adopt or
     reject proposed future product changes to the Current Vehicle through a
     mutually agreeable process. Before making any equipment or design changes
     with respect to the Current Vehicle, or any changes to the terms of sale,
     AMG will notify GM and GM shall consult with AMG regarding such changes
     including, as appropriate, the proposed implementation date for such
     changes, and specific provisions for price protecting vehicle orders
     already accepted by AMG.

(b)  AMG shall retain all responsibility, financial or otherwise, with respect
     to warranty claims, recall campaigns, product liability claims and
     lawsuits, and all similar items related to the design, manufacture,
     assembly, distribution and sale of the Current Vehicle.

     2.2       Assistance to GM.  AMG will not take any actions with respect to
               ----------------
     Existing Dealers that are inconsistent with GM's responsibilities. Upon
     request by GM, AMG will take such action as may reasonably be requested by
     GM to facilitate GM's fulfillment of those responsibilities as set forth in
     Section 1.

     2.3       Advertising and Promotional Materials. In fulfilling the
               -------------------------------------
     responsibilities set forth in Section 1.2, GM will provide AMG with copies
     of all marketing, advertising and promotional materials to be used for the
     Current Vehicle. AMG shall have final approval of all such materials and be
     responsible for substantiating the truth and accuracy of all advertising
     claims contained in such materials. Those materials will be forwarded to
     Bill Thompson, AM General Corporation, 105 North Niles Avenue, South Bend,
     Indiana 46617, or to such other individual as AMG may designate in writing.
     AMG will provide GM with information that GM may reasonably request to
     fulfill its responsibilities, including data necessary to substantiate any
     claims to be made in such marketing, advertising and promotional materials.
     Unless it has direct knowledge of evidence to the contrary, which it shall
     promptly communicate to AMG, GM shall to the maximum extent permitted by
     law be entitled to rely, without independent verification, on the accuracy
     of all statements, specifications, descriptions and advertising materials
     made or furnished by AMG to GM.

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2.4  In General.  Except as expressly provided herein, during the term of this
     ----------
Agreement, GM shall have no other obligations with respect to the Current
Vehicle, or with respect to the Hummer dealer network.  It is the intention of
the parties that AMG shall continue to be responsible for all of its obligations
under the Dealer Agreements with Hummer Dealers.

                                   SECTION 3

                               TERM OF AGREEMENT

This Agreement shall become effective on January 3, 2000, and shall remain in
effect until the Distribution Agreement, referenced below, becomes effective, or
until such other time as the parties may mutually agree to terminate this
Agreement.

                                   SECTION 4

                            DISTRIBUTION AGREEMENT

4.1  It is the intent of the parties, to the degree feasible consistent with
their mutual objectives, to  use the same dealers for distributing the Current
Vehicle and Future Product when such Future Product is available for
distribution.  The parties anticipate that the requirements for dealers with
respect to facilities, systems, sales processes and capital investment for
Current Vehicle and for Future Product will require new Dealer Agreements and/or
distribution arrangements.

4.2  Since the specific requirements, systems and processes for the future
distribution network will not be finalized until closer to the time of  Future
Product availability, the parties are not yet in a position to define the terms
under which the Current Vehicle will be distributed through that network.
However, it is anticipated that GM will assume all responsibility for marketing
and distribution of the Current Vehicle for a fee to be determined, and AMG will
remain responsible for its design and manufacture, as well as the expenses
associated with warranty, product claims and lawsuits, recalls, and similar
product related items.  The parties will attempt to develop a Distribution
Agreement for the Current Vehicle consistent with this framework at the earliest
practical time.

                                   SECTION 5

                                 MISCELLANEOUS

5.1  No Franchise Relationship or Intended Beneficiaries.  Nothing herein is
     ---------------------------------------------------
intended to constitute an assignment of any obligations that AMG has to its
dealers under the Hummer Dealer Agreement, and nothing herein is intended to
create any franchise relationship between GM and those dealers who become a
party to a Hummer Dealer Agreement with AMG. Nothing herein is intended to grant
to any third parties, including present or future dealers, any rights.

5.2  Mutual Cooperation.  Each party will cooperate with the other to the
     ------------------
reasonable degree necessary to allow the objectives of this Agreement to be
realized.

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5.3  Indemnification.  (a) AMG shall indemnify, defend and hold harmless GM from
     ---------------
and against any liabilities, claims and demands arising (i) out of the death of
or injury to any person, or damage to any property, alleged to have resulted
from a defect in or malfunction of any Current Vehicle; and (ii) any costs
(including reasonable attorney's fees and expenses) associated with warranty
claims, recall campaigns, product liability claims and lawsuits, and all similar
items related to the design, manufacture, assembly, distribution and sale of the
Current Vehicle (collectively referred to hereinafter as "Claims").

(b)  Because GM will be indemnified by AMG pursuant to this Agreement, AMG as
     between the parties shall have the right and responsibility to manage all
     lawsuits and all product liability claims relating to the Current Vehicle.
     With respect to any actual, potential or threatened Claim relating to any
     Current Vehicle, AMG and GM shall (i) communicate and cooperate with each
     other to the fullest extent reasonably possible in investigating the facts
     and circumstances surrounding the Claim and in litigating the matter to the
     extent necessary; (ii) refrain to the fullest extent reasonably possible
     from taking positions adverse to the interests of each other, (iii) not,
     except in enforcement of any rights under this Agreement, institute any
     claim, action or proceeding, whether by cross-claim, third-party claim,
     interpleader or otherwise, against each other, and (iv) in the event a
     Claim is brought against GM relating to any Current Vehicle, GM shall as
     promptly as practicable under the circumstances forward to AMG every
     summons and complaint and every other court document received by GM and in
     no event shall GM take any action for defense or settlement without the
     consent of the AMG.

5.4  Other Litigation.  In the event a third party commences or threatens to
commence litigation or other legal action against one or more of the parties to
this Agreement with respect to activities to be performed under this Agreement,
the parties shall, to the extent such litigation or other legal action is of a
type other than that covered in Section 5.3 above:

     (a)  promptly meet to analyze each claim being asserted and mutually
     determine to the satisfaction of the parties utilizing the principles of
     good faith and fair dealing which party should take the lead with regard to
     such claim and to the extent reasonably possible at the time, how the
     parties shall apportion the costs, if any, of resolving the matter;

     (b)  communicate and cooperate with each other to the fullest extent
     reasonably possible in investigating the facts and circumstances
     surrounding the claims being asserted and in litigating the matter to the
     extent necessary;

     (c)  refrain to the fullest extent reasonably possible from taking
     positions adverse to the interests of each other; and

     (d)  not, except in enforcement of any rights under this Agreement,
     institute any claim, action or proceeding, whether by cross-claim, third-
     party claim, interpleader or otherwise, against each other.

5.5  Independent Contractors.  This Agreement does not constitute GM as the
----------------------------
agent or legal representative of AMG, or AMG as the agent or legal
representative of GM for any purpose.  GM's personnel are not employees or
agents of AMG, and AMG's personnel are not employees or agents of GM.

5.6  Assignment.  This Agreement shall not be assigned by either party without
     ----------
the prior written consent of the other party.

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5.7  Notices.  All notices hereunder shall be in writing, and communicated by
     -------
U.S. mail, express mail, personal delivery or facsimile. Such notice shall be
effective when received by the addressee at the address noted below:

          Notices to AMG:  Paul J. Cafiero, Chief Financial Officer
                                   AM General Corporation
                                   105 North Niles Avenue
                                   South Bend, IN 46617

          with a copy to:  Dennis A. Sadlowski, Vice President - Law
               The Renco Group, Inc.
                                   30 Rockefeller Plaza
                                   --------------------
                                   New York, New York 10112

          Notices to GM:   Mike DiGiovanni

          HUMMER Marketing

                                   100 Renaissance Center
                                   MC: 482-A32-B98
                                   Detroit, Michigan 48265

          with a copy to:          Ken Lindensmith
                                   GM Truck Group
                                   MC: 483-621-175
                                   1919 Technology Drive
                                   Troy, Michigan 48083-4247

     or such other addresses as the parties may designate from time to time in
     writing.

5.8  Litigation.  The parties agree that in the event of any litigation by any
     ----------
third party involving a claim related to the services which GM is to provide
hereunder, they will cooperate with each other in the defense of such claim.

5.9  Choice of Law.   All disputes concerning the validity, interpretation, or
     -------------
performance of this Agreement and any of its terms or provisions, or of any
rights or obligations of the parties hereto, shall be governed by and resolved
in accordance with the laws of the State of Michigan, without regard to the
principle of conflicts of law.

5.10 Entire Agreement.  This Agreement contains all of the terms and conditions
     ----------------
agreed upon by the parties hereto with reference to the subject matter hereof.
No other agreements, oral or otherwise, shall be deemed to exist or to bind
either of the parties hereto, and all prior agreements and understandings are
superseded hereby.  This Agreement cannot be modified or changed except by
written instrument signed by both of the parties hereto.

5.11 Titles and Headings for Convenience.  Titles and headings used in this
     -----------------------------------
Agreement are for convenience only and shall not be deemed to affect the meaning
or construction of any of the terms, provisions, covenants, or conditions of
this Agreement.

5.12 Severability.  Nothing contained in this Agreement shall be construed as
     ------------
requiring the commission of any act contrary to law. If any tribunal or court of
competent jurisdiction deems any provision hereof

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unenforceable, such provision shall be modified only to the extent necessary to
render it enforceable and the remaining provisions shall remain in full force
and effect.

IN WITNESS WHEREOF, the parties hereto have caused two copies of this Agreement
to be duly executed and delivered by their proper and duly authorized
representatives as of December 21, 1999.

GENERAL MOTORS CORPORATION             AM GENERAL CORPORATION

By: ____________________________       By: __________________________

Title: __________________________      Title: _________________________

                          AM GENERAL SALES CORPORATION

                          By: ________________________

                          Title: _______________________

                                      -7-<PAGE>

                          TRADEMARK LICENSE AGREEMENT
                          ---------------------------

This license agreement ("Agreement") dated as of December 21, 1999 is made and
entered into by and between GENERAL MOTORS CORPORATION, a Delaware corporation,
having offices at 3044 West Grand Blvd., Detroit, MI 48202 ("GM") and  AM
GENERAL CORPORATION, a Delaware corporation, having offices at 105 North Niles
Avenue, South Bend, IN 46617 ("AMG"), hereinafter referred to collectively as
the "parties".

                                R E C I T A L S

WHEREAS, pursuant to an assignment agreement entered into between the parties
contemporaneously with this Agreement (the "Assignment Agreement"), GM owns all
right, title and interest including, without limitation, all common law rights,
all merchandising rights, all marks, words, names, letters, numbers, symbols,
emblems, shapes, designs, devices and trade dress, or any combination thereof,
as well as anything that may distinguish the goods and services in the business
associated with the manufacture, sale, distribution, servicing, financing,
insuring, leasing or promotion of Hummer motor vehicles throughout the world and
all registrations and applications and all goodwill connected with the Hummer
trademarks;

WHEREAS, pursuant to a new vehicle assembly agreement entered into between the
parties contemporaneously with this Agreement (the "New Vehicle Assembly
Agreement"), GM will design a new vehicle and AMG will assemble such new vehicle
for delivery to GM, and AMG will develop and GM will provide certain financing
for new facilities for the assembly of such new vehicle;

WHEREAS,  pursuant to a management services agreement entered into between the
parties contemporaneously with this Agreement (the "Management Services
Agreement"), as modified from time to time, wherein GM will be the exclusive
provider of marketing and distribution support to AMG in connection with AMG's
distribution and sale of a non-military vehicle product currently being
manufactured, distributed and sold by AMG ("Current Vehicle");

WHEREAS, AMG desires to continue to use the Hummer trademarks upon and in
connection with the manufacture, distribution and sale of the Current Vehicle
worldwide; and

WHEREAS, pursuant to two letter agreements (the "HUMVEE Trademark Agreement"
and the "Royalty Sharing Agreement ") entered into between the parties
contemporaneously with this Agreement, the parties have set forth AMG's
retention of rights in certain trademarks (the "HUMVEE Trademarks"), as set
forth in the HUMVEE Trademark Agreement,  and each party's rights to royalties
derived by the other party in connection with its respective licensing
activities with respect to the HUMVEE Trademarks and Hummer trademarks;

NOW, THEREFORE, in consideration of the mutual promises herein contained and for
other good and valuable consideration, the receipt and sufficiency of which is
hereby acknowledged, it is hereby agreed as follows:

                                      I.
                               GRANT OF LICENSE
                               ----------------

1.1  GM hereby grants to AMG this non-exclusive, paid-up, royalty-free,
     worldwide license to use and display the Hummer trademarks as set forth in
     Schedule A and all related marks, words, names, letters, numbers, symbols,
     emblems, devices, trade dress and other common law rights or any
     combination thereof assigned to GM pursuant to the Assignment Agreement
     (collectively the "Hummer Trademarks") during the Term of this Agreement
     solely and only upon and in connection with the manufacture, distribution,
     promotion and sale of the Current Vehicle.  Any modification in the form,
     color, dimension and manner of use by AMG shall be subject to the approval
     of GM, which approval shall not be unreasonably withheld.

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1.2  It is agreed to and understood that the grant of paragraph 1.1 above is
     intended to include use of the Hummer Trademarks on related parts,
     accessories and maintenance and repair services for the Current Vehicle and
     ancillary business materials such as business cards, stationery and
     business signs of AMG in connection with its manufacture, distribution,
     promotion and sale of the Current Vehicle bearing the Hummer Trademarks.

1.3  It is agreed to and understood that this Agreement does not convey to AMG
     any license to use the Hummer Trademarks in connection with any apparel,
     novelty items or other merchandise and AMG is expressly prohibited from
     using the Hummer Trademarks in connection therewith.  GM recognizes and
     acknowledges that AMG has previously licensed use of the Hummer Trademarks
     to third parties in connection with apparel, novelty items and other
     merchandise, such license agreements being assigned to GM pursuant to the
     Royalty Sharing Agreement.

1.4  GM makes no representations or warranties with respect to the availability
     of use of the Hummer Trademarks in any country.  AMG agrees and understands
     that upon written notification from GM that any of the Hummer Trademarks
     are the subject of a trademark infringement claim or allegation brought by
     a third party alleging infringement by GM or AMG, GM shall promptly confer
     with AMG in good faith to develop an appropriate response including, where
     reasonable under the circumstances and in GM's sole discretion,
     discontinuing the use of such Hummer Trademarks pending the outcome of the
     alleged trademark infringement.

1.5  Except for trademarks or service marks that currently appear on the Current
     Vehicle (e.g., component parts), AMG agrees and understands that no
     trademarks other than AMG-owned trademarks and the Hummer Trademarks shall
     appear on any of the Current Vehicles, unless otherwise agreed to by GM in
     writing wherein such agreement shall not be unreasonably withheld.

1.6  Notwithstanding anything to the contrary in this Agreement, upon the
     request and at the expense of AMG, GM will pursue securing trademark and
     service mark registrations for use of the Hummer Trademarks in connection
     with the manufacture, distribution, promotion and sale of the Current
     Vehicle in any countries reasonably requested by AMG.

1.7  (a)  GM hereby grants to AMG a non-exclusive, paid-up, royalty-free,
     worldwide license to use the shape and design of the Current Vehicle
     including, but not limited to, the Current Vehicle grill and nose design,
     (the "Current Vehicle Design") in connection with the manufacture,
     distribution, servicing, financing, insuring, leasing, promotion and sale
     of the Current Vehicle.  During the term of the license granted pursuant to
     this Section 1.7, GM agrees not to license the Current Vehicle Design to
     any third party for use in the manufacture of the Current Vehicle, without
     AMG's prior written consent.

     (b)  The parties acknowledge and agree that the license granted in Section
     1.7 (a) above, also includes the use of the Current Vehicle Design on
     related parts, accessories and maintenance and repair services for the
     Current Vehicle and ancillary business materials such as business cards,
     stationary and business signs of AMG in connection with its manufacture,
     distribution, promotion and sale of the Current Vehicle.

                                      -2-
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                                      II.
                                     TERM
                                     ----

2.1  This Agreement shall become effective upon complete execution by both
     parties of: (i) this Agreement, (ii) the Assignment Agreement, (iii) the
     Management Services Agreement, (iv) the New Vehicle Assembly Agreement, (v)
     the HUMVEE Trademark Agreement, and (vi) the Royalty Sharing Agreement and
     shall continue for an indefinite duration, unless this Agreement is
     terminated pursuant to the terms and conditions hereof.

                                     III.
                     ACKNOWLEDGMENT OF TRADEMARK OWNERSHIP
                     -------------------------------------

3.1  AMG agrees that it will not, during the term of this Agreement or
     thereafter, attack the validity of the Hummer Trademarks, or this
     Agreement.

3.2  AMG acknowledges GM's title to the Hummer Trademarks, and shall not at any
     time do or permit to be done any act or thing which will in any way impair
     the rights of GM in the Hummer Trademarks or which damages or reflects
     adversely upon GM or the Hummer Trademarks.

3.3  AMG shall not attempt to register the Hummer Trademarks alone or as part of
     its own trademarks, nor shall AMG use or attempt to register any marks
     confusingly similar to the Hummer Trademarks, except that AMG shall retain
     the right to own, use, transfer, license or register its HUMVEE trademarks
     and service marks including but not limited to the registered marks listed
     on the attached Schedule B, subject to the HUMVEE Trademark Agreement and
     Royalty Sharing Agreement.

3.4  It is the intention of the parties that all use of the Hummer Trademarks
     shall inure to the benefit of the GM.

3.5  In connection with AMG's use of the Hummer Trademarks, AMG will use the
     following notice (or such other notice as otherwise specified by GM)
     somewhere in its advertising and promotional materials, in all related-
     owners manuals and publications, as well as on the Current Vehicle or
     labels affixed to the Current Vehicle:

          "[Hummer Trademarks] are trademarks of General Motors Corporation,
          used under license to AM General Corporation."

                                      IV.
                        GOOD WILL AND PROMOTIONAL VALUE
                        -------------------------------

4.1  AMG recognizes the value of the good will associated with the Hummer
     Trademarks and acknowledges that the Hummer Trademarks, and all rights
     therein and the good will pertaining thereto, belong exclusively to GM.

                                      V.
                             TRADEMARK PROTECTION
                             --------------------

5.1  AMG shall fully and completely comply with the provisions of the trademark
     laws of the countries in the Licensed Territory, and AMG agrees to bear any
     costs which may be necessary to comply with such trademark laws, other than
     the fees, taxes and maintenance charges assessed to register and maintain
     the Hummer Trademarks.

                                      -3-
<PAGE>

5.2  AMG agrees to bear any costs which may be necessary to record AMG as a
     registered user of the Hummer Trademarks in countries in which AMG is
     authorized under this Agreement to manufacture, distribute, promote and
     sell the Current Vehicle bearing the Hummer Trademarks.  Such cost shall be
     limited to direct, out-of-pocket costs for outside counsel, trademark
     agents and government registration fees.

5.3  AMG agrees to provide GM with such reasonable assistance as GM may require
     in the procurement of any protection of GM's rights to the Hummer
     Trademarks.

5.4  AMG agrees to notify GM in writing of any suspected infringing activity by
     other entities which may come to AMG's attention. GM shall have the sole
     right to determine whether any action shall be taken concerning such
     activity. AMG shall not institute any action, make any demand, or contact
     such other entity on behalf of GM concerning the suspected infringing
     activity.

5.5  AMG agrees to provide to GM, at GM's request and cost and expense, copies
     of all files in its possession or control related to any past or current
     trademark matters pertaining to the Hummer Trademarks including, without
     limitation, trademark applications, registrations, prosecutions,
     oppositions, cancellations, pursuit of third party infringers, claims of
     trademark infringement against AMG and litigation matters. Additionally,
     AMG hereby assigns to GM, and GM accepts all rights AMG may have to pursue
     and recover for any and all past, present and future trademark
     infringements regarding the Hummer Trademarks, including but not limited to
     any and all active litigation.

5.6  GM and AMG understand and acknowledge that with respect to each party's
     pursuit of trademark protection for its respective trademarks (the Hummer
     Trademarks by GM and the HUMVEE Trademarks by AMG), it may be necessary for
     one of the parties to obtain a written consent for use and registration
     from the other party. Therefore, the parties agree to execute all documents
     necessary when requested by other party to effectuate the intent of this
     understanding, provided that the requesting party shall pay all reasonable
     costs associated therewith and shall prepare all such documents. This
     paragraph 5.6 shall apply to all countries, worldwide, and shall survive
     the termination of this Agreement.

                                      VI.
                                INDEMNIFICATION
                                ---------------

6.1  AMG shall indemnify, defend and hold harmless GM from any cause of action,
     claim, action or suit, including product liability claims and claims for
     civil liability, for recovery of said damages, losses or injuries, as well
     as all costs and reasonable attorney's fees, if any, arising out of the
     manufacture, distribution, promotion, sale or use of the Current Vehicle
     including, without limitation, use of any trademark (including, but not
     limited to, the Hummer Trademarks), patent, process, idea, method or device
     by or on behalf of AMG.

                                      -4-
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                                     VII.
                                QUALITY CONTROL
                                ---------------

7.1  AMG agrees that the Current Vehicle on which it will use the Hummer
     Trademarks shall be of a standard of quality equally as high as that of the
     specimen made available for GM's inspection as of the date of this
     Agreement. Additional testing may be required by GM of the Current Vehicle
     from time to time to verify that the Current Vehicle continues to be
     substantially equal to or exceed the standard of quality of the Current
     Vehicle made available for GM's inspection as of the date of this
     Agreement.  Such additional tests shall be called for at the discretion of
     GM.  GM shall have the right to inspect the manufacturing facilities of AMG
     at all reasonable times.

7.2  AMG agrees that all advertising, brochures, marketing and promotional
     materials, vehicle owner's manuals, documentation and technical materials,
     business cards, stationery, business signs and all other written materials
     used in connection with the Hummer Trademarks shall be of a standard of
     quality equally as high as that of the specimens made available for GM's
     inspection as of the date of this Agreement.  Any material changes or
     additions to the foregoing materials shall require GM's consent, which
     consent shall not be unreasonably withheld or delayed.  AMG agrees to make
     any modifications or corrections to the materials as reasonably specified
     by GM.

7.3  If at any time the Current Vehicle or the related advertising, marketing or
     other materials do not substantially equal or exceed the standard of
     quality as the samples submitted for GM's prior approval, GM shall have the
     right to require AMG to discontinue the use of the Hummer Trademarks unless
     modification reasonably satisfactory to GM is made within a time frame from
     notice of disapproval that is also reasonably satisfactory to the GM.

7.4  AMG agrees that the Current Vehicle will be manufactured, promoted,
     distributed and sold in accordance with all applicable federal, state and
     local laws, regulations and rules in the applicable countries and AMG
     agrees to bear all expenses and costs which may be necessary to comply with
     such laws, regulations and rules.  AMG further agrees that its conduct
     shall in no manner reflect adversely upon the good name and reputation of
     GM or the Hummer Trademarks.

                                     VIII.
                         SUBLICENSE AND NON-ASSIGNMENT
                         -----------------------------

8.1  This Agreement and any rights herein granted thereby are personal to AMG
     and may not be sublicensed or assigned without the prior written consent of
     GM.

                                      IX.
                                  TERMINATION
                                  -----------

9.1  This Agreement shall automatically terminate without any notice being
     necessary upon the expiration or termination of the New Vehicle Assembly
     Agreement.  Upon termination of this Agreement pursuant to this paragraph
     9.1, GM will consider, at AMG's request, granting AMG a license to continue
     to use the Hummer Trademarks on the Current Vehicle; provided, however,
     that the granting of any such license shall be at GM's sole discretion.

9.2  This Agreement shall automatically terminate without any notice being
     necessary if AMG files a petition in bankruptcy or is adjudicated a
     bankrupt or if a petition in bankruptcy is filed against AMG and is not
     dismissed within thirty (30) days or if it becomes insolvent, or makes an
     assignment for the benefit of its creditors or an arrangement pursuant to
     any bankruptcy law, or if a receiver is appointed for it or its business.
     In the event that this Agreement is so terminated, AMG, its receivers,

                                      -5-
<PAGE>

     representatives, trustees, agents, administrators, successors, or assigns
     shall have no right to sell, exploit or in any way deal with the Hummer
     Trademarks or use the Hummer Trademarks in any way in connection with the
     Current Vehicle or any carton, container, packing or wrapping material,
     advertising, promotional or display material pertaining thereto.

9.3  If AMG materially breaches any of the conditions listed in this Agreement,
     GM shall have the right to terminate this Agreement upon thirty (30) days
     written notice, provided that AMG fails to cure such breach within such
     thirty (30) day period; provided, however, that in the event a specific
                             -----------------
     breach is of a type which can not reasonably be cured within such thirty
     (30) day period, GM's rights of termination under this Section 9.4 shall be
     suspended as long as AMG has begun to cure such breach within the thirty
     (30) day period and in GM's sole discretion, continues to proceed
     diligently and in good faith to complete such cure.  The parties agree and
     understand that insofar as a breach is of a type which is incapable of
     cure, in whole or in part, the term "cure" in this provision shall be
     interpreted to mean providing sufficient assurances and instituting
     sufficient preventative procedures to ensure that breaches of that type
     will not occur in the future.

9.4  Upon the termination of this Agreement, AMG shall immediately cease all use
     of the Hummer Trademarks; provided, however, that AMG shall have the right
     to use the Hummer Trademarks in connection with its completion of the
     manufacture, distribution and sale of Current Vehicles for which bone fide
     orders have been received by AMG as of the termination of this Agreement
     and the use, distribution and sale of all raw materials, work-in-process,
     and finished goods inventory of Current Vehicles bearing the Hummer
     Trademarks existing as of the termination of this Agreement; provided,
     however, that the distribution and sale of any such vehicles shall be
     distributed and sold in conjunction with GM through the sales and marketing
     network then utilized by GM for the distribution and sale of Hummer branded
     vehicles.

9.5  Paragraphs 1.7, 3.3, 5.5, 6.1, and 9.4 shall survive the termination of
     this Agreement.  Therefore, upon termination of this Agreement, (i) AMG
     shall have the right to continue to use the Current Vehicle Design as set
     forth in paragraph 1.7 (including but not limited to the uses contemplated
     in Section 1.7(b) above) in connection with its manufacture, distribution,
     promotion and sale of the Current Vehicle until such time as AMG (a)
     discontinues use of the Current Vehicle Design with the intent not to
     resume its use, or (b) discontinues use of the Current Vehicle Design in
     connection with the manufacture and sale of the Current Vehicle and has no
     intention of resuming such use within twelve (12) months from the date of
     such discontinuance or fails to resume use within such twelve (12) month
     period, (ii) pursuant to paragraph 3.3 above, AMG shall not attempt to
     register the Hummer Trademarks alone or as part of its own trademarks, nor
     shall AMG use or attempt to register any marks confusingly similar to the
     Hummer Trademarks, except that AMG shall retain the right to own, use,
     transfer, license or register its HUMVEE Trademarks, trademarks and service
     marks including but not limited to the registered markslisted on the
     attached Schedule B, subject to the HUMVEE Trademark Agreement and Royalty
     Sharing Agreement,  and (iii) pursuant to paragraph 6.1, AMG shall continue
     to be responsible for indemnifying GM in connection with AMG's continuing
     use of the Current Vehicle Design. Notwithstanding anything to the contrary
     herein contained, AMG shall also have the right to transfer or assign the
     license grant of paragraph 1.7; provided, however, that such transfer or
     assignment shall only be in connection with the sale or transfer of
     substantially all of the stock or substantially all of the assets of AMG
     (but in no case shall such rights be assigned in any proceeding in
     bankruptcy or general assignment for the benefit of creditors or to a
     competitor of GM in the manufacture and sale of motor vehicles).

9.6  Termination of this Agreement under the provisions of this Paragraph IX
     shall be without prejudice to any rights which GM may otherwise have
     against AMG or which AMG may otherwise have against GM.

                                      -6-
<PAGE>

                                      X.
                                 GOVERNING LAW
                                 -------------

10.1 This Agreement shall be governed by and construed in accordance with the
     laws of the State of Michigan. This Agreement cancels and supersedes all
     prior written or oral agreements between the parties with respect to the
     matters referred to herein. This Agreement may be amended or modified only
     by a writing signed by both parties.

                                      XI.
                                 SEVERABILITY
                                 ------------

11.1 The provisions of this Agreement shall be severable, and if any provision
     hereunder shall be held or declared illegal, invalid, or unenforceable,
     such shall not effect any other provision hereof or the interpretation,
     effect, or enforceability of this Agreement.

                                     XII.
                                CONFIDENTIALITY
                                ---------------

12.1 AMG and GM shall not disclose or otherwise communicate to any third party
     (other than the parties' respective employees, agents, and participants
     with a specific "need to know" and who shall be bound by the provisions of
     this paragraph) any information regarding either the terms and provisions
     of this Agreement, or any confidential materials, trade secrets, and/or
     proprietary information delivered pursuant to the terms and provisions of
     this Agreement to such party by the other party if in writing and clearly
     marked with a "Confidential" or similar legend; or if orally, is identified
     as proprietary at the time of such oral disclosure and is confirmed in
     writing to the receiving party to be proprietary within thirty (30) days
     after such oral disclosure, except: (a) to the extent necessary to comply
     with a specific applicable law or the valid final order of a court of
     competent jurisdiction, in which case the party making the disclosure or
     communication shall notify the other party in writing and shall seek
     confidential and proprietary treatment of the information; (b) as part of
     normal, reporting or review procedure to the respective parties and of
     directors, parent company, auditors and attorneys provided, however, that
     such persons or entities agree to be bound by the provisions of this
     paragraph; (c) to enforce its rights legally under this Agreement in a
     court of competent jurisdiction; or (d) such information which is or
     becomes part of the public domain through disclosure other than by AMG or
     by GM.

                                     XIII.
                                    NOTICES
                                    -------

13.1 Any notices or other communication required or permitted under this
     Agreement shall be in writing, and be mailed to:

     If to GM:        Mike DiGiovanni

HUMMER Marketing
100 Renaissance Center
MC: 482-A32-B98
Detroit, Michigan 48265

                                      -7-
<PAGE>

     with copy to:    Timothy G. Gorbatoff
                      General Motors Legal Staff
                      Intellectual Property Group
                      New Center One Bldg, Suite 450
                      M/C 482-204-450
                      3031 West Grand Blvd.
                      Detroit, MI 48202

  If to AMG:   Paul J. Cafiero, Chief Financial Officer
                      AM General Corporation
                      105 North Niles Avenue
                      South Bend, IN  46617

     with a copy to:  Dennis A. Sadlowski, Vice President - Law
                      The Renco Group, Inc.
                      30 Rockefeller Plaza
                      New York, New York  10112

The parties hereto indicate their understanding of and full agreement with all
the foregoing by its duly authorized representatives' signature below.

GENERAL MOTORS CORPORATION         AM GENERAL CORPORATION

By: ___________________________    By: _____________________________

Title: ________________________    Title: __________________________

                                      -8-

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