Document:

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                             Heller Financial, Inc.
                                    2001-2003
                            Long-Term Incentive Plan

I.       Purpose of the Plan

The 2001-2003 Long-Term Incentive Plan (the "Plan") is an integral part of the
total compensation strategy of Heller Financial, Inc. ("Heller"). The Plan has
been designed to:

         .  Enhance Heller's ability to attract and retain valued executives.

         .  Focus Heller's executives on Heller's long-term goals and
            objectives.

         .  Motivate executives by enhancing Heller's pay-for-performance
            environment.

         .  Promote teamwork.

         .  Align executives with shareholder interests.

         .  Diversify the sources of long-term compensation beyond stock options
            and restricted stock.

II.      Plan Participants

The participants in the Plan will be those members of senior management who are
(1) designated as participants by the Compensation Committee of Heller's Board
of Directors (the "Committee") at the beginning of the Plan or (2) are newly
hired or promoted after the beginning of the Plan and are designated as
participants either by the Committee or the Chief Executive Officer of Heller.
No person who otherwise participates in another business unit long-term
incentive plan shall be eligible to participate in the Plan. Grants to the Chief
Executive Officer and Chief Operating Officer of Heller shall in all events be
subject to the approval of the Committee.

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III.     Grants and Valuation of Performance Units

Performance units will be granted at the beginning of the Plan (or to newly
hired or promoted individuals after the beginning of the Plan) and will be
valued after the designated performance period for the Plan. Performance units
represent only economic interests in the Plan and do not represent actual equity
in Heller common stock or otherwise.

IV.      Performance Period

The performance period for the Plan will be from January 1, 2001 through
December 31, 2003.

V.       Goal Setting/Value Determination

The value of a performance unit for the Plan will be based on the arithmetic
average (giving a 50% weighting to each) of: (i) a three year average return on
equity (ROE) goal and (ii) a three year average earnings per unit (EPS) goal, in
each case for the three year period from January 1, 2001 through December 31,
2003.

The performance grid shown below will be used in determining actual unit value:

<TABLE>
<CAPTION>
          ROE (50%)                                     EPS (50%)
          ---------                                     ---------
          3 Year Average           Unit Value           3 Year Average         Unit Value
          <S>                      <C>                  <C>                    <C>
          15.00%                   $200                 $4.03                  $200
          14.60%                   $160                 $3.92                  $160
          14.20%                   $135                 $3.81                  $135
          13.80%                   $115                 $3.70                  $115
          ------------------------ -------------------- ----------------------------------------
          13.40%                   $100                 $3.59                  $100
          ------------------------ -------------------- ----------------------------------------
          13.00%                   $ 85                 $3.48                  $ 85
          12.60%                   $ 65                 $3.37                  $ 65
          12.20%                   $ 50                 $3.26                  $ 50
          Less than 12.20%            0                 Less than $3.26           0
</TABLE>

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By way of example, if the 3 Year Average ROE is 13.80% (with a corresponding
Unit Value of $115) and the 3 Year Average EPS is $3.81 (with a corresponding
Unit Value of $135), then the value of a unit granted under the Plan will be
(115 + 135)/2 = $125.

Extraordinary gains and losses shall, in the discretion of the Committee, be
excluded from the calculation of ROE and EPS.

VI.      Performance Units Available under the Plan

The number of performance units granted under the Plan will be established by
the Committee from time to time and shall include grants made by the Chief
Executive Officer after the beginning of the Plan as contemplated above.

VII.     Distributions of Awards

Performance units will be distributed as soon as practical after the end of the
performance period. Payments will be made in shares of Class A Common Stock of
Heller ("Common Stock"), based upon the New York Stock Exchange closing price
thereof on December 31, 2003, and in cash in lieu of fractional shares of Common
Stock. Participants may elect to defer shares of Common Stock to be awarded
under the Plan, and/or any cash to be paid in lieu of fractional shares of
Common Stock, into the Heller Executive Deferred Compensation Plan.

VIII.    Administration

         General
         -------

         The Plan shall be administered by or under the authority of the
         Committee. Subject to the provisions of the Plan, the Committee shall
         have the authority to approve eligibility to participate in the Plan,
         to establish the terms and conditions under which the awards become
         payable, and to adopt such rules and regulations and make all other
         determinations deemed necessary or desirable for the implementation and
         administration of the Plan.

         Termination of Employment
         -------------------------

         A Plan participant must be an active employee of Heller at the time
         payment of incentive compensation is paid after the end of the
         performance period (December 31, 2003) to be eligible for any incentive
         compensation under

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         the Plan. Except as set forth below, in the event that for any reason a
         Plan participant ceases to be an active employee of Heller before the
         time of the payment of the incentive compensation under the Plan, no
         incentive compensation will be deemed to have been earned by the Plan
         participant during the performance period.

         Notwithstanding the above, any Plan participant who becomes permanently
         disabled (as defined by, or otherwise for purposes of, Heller's
         long-term disability plan) or retires during a performance period will
         be fully vested in his or her grant of performance units. Awards will
         be paid at the time that awards are distributed to all other Plan
         participants, with performance units being valued after the end of the
         performance period as determined for all other Plan participants under
         Section V above, but pro-rated according to the number of whole months
         actually worked by the participant prior to his or her disability or
         retirement.

         Notwithstanding the above, any Plan participant who dies during a
         performance period will be fully vested in his or her grant of
         performance units, which will be valued at $100 per unit and otherwise
         pro-rated according to the number of whole months actually worked by
         the participant before his or her death. Awards will be paid as soon as
         practicable after death to a beneficiary previously designated by the
         participant in writing specifically for purposes of the Plan. If no
         beneficiary has been so designated, then the award will be paid to a
         beneficiary designated for purposes of Heller's Basic Life Insurance
         plan and, if no beneficiary has been so designated, then to the
         participant's estate or as otherwise required by law.

         Plan Termination
         ----------------

         This Plan is effective for the calendar years 2001 through 2003 and is
         subject to amendment by the Committee in its sole discretion, provided
         that no such amendment may reduce the value of the benefits payable
         under the Plan.

         Plan Participants will be notified of an amendment to the Plan within a
         reasonable time after the amendment has been effected.

         Withholding and Benefits
         ------------------------

         Heller will withhold from any amounts payable under this Plan all
         federal, state, city and local taxes as shall be legally required as
         well as any other amounts authorized or required by employer policy
         including, but not limited to, withholding for garnishments and
         judgments or other court orders.

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         Amounts accrued or paid under this Plan shall not be included or
         considered in determining any benefits under any pension, retirement,
         profit sharing, group insurance or other benefit plan of Heller or any
         of its affiliates.

         Employment Rights
         -----------------

         The Plan does not constitute a contract of employment and participation
         in the Plan will not give a Plan participant the right to be rehired or
         retained in the employ of Heller on a full-time, part-time, or any
         other basis, nor will participation in the Plan give any Plan
         participant any right or claim to any benefit under the Plan unless
         such right or claim has specifically accrued under the terms of the
         Plan.

         Company's Decision Final
         ------------------------

         Any interpretation of the Plan and any decisions, calculations and
         determinations made by the Committee on all matters relating to the
         Plan or the administration thereof shall be final and binding.

         Incentive Awards not Distributed to Participants
         ------------------------------------------------

         Any portion of incentive compensation not earned and disbursed at the
         end of the performance period will be retained by the Company.

                                       5<PAGE>

                                  AMENDMENT TO
                AMENDED AND RESTATED CHANGE IN CONTROL AGREEMENT

         This Amendment is made to that certain Amended and Restated Change in
Control Agreement (the "Agreement") dated as of March 1, 2001 between Heller
Financial, Inc., a Delaware corporation (the "Company"), and _______________
(the "Executive"). Capitalized terms used but not otherwise defined herein have
the respective meanings given to them in the Agreement.

         The Company and the Executive hereby agree that Section 5 of the
Agreement shall be deleted in its entirety and that the following new Section 5
shall be added in substitution therefor:

         "5.      Limitation on Company Payments and Certain Tax Gross-Up.
                  -------------------------------------------------------

                  (a)  Notwithstanding any provision of this Agreement to the
                  contrary, the aggregate cash payments (excluding the value
                  realized from the acceleration of unvested option or
                  restricted stock grant) made by or on behalf of the Company or
                  any Affiliate to or for the benefit of the Executive (whether
                  paid or payable pursuant to the terms of this Agreement or
                  otherwise) as a result of a Change in Control will not exceed
                  2.99 times the sum of (i) the Executive's annual Base Salary
                  plus (ii) the then most recent amount of the annual incentive
                  compensation payment made to the Executive under the Heller
                  Performance Plan (or any successor plan) prior to the Change
                  in Control plus (iii) the amount equal to the cash value of
                  the incentive compensation (whether such incentive
                  compensation was paid in cash or restricted stock) then most
                  recently made under any of the Company's long-term incentive
                  plans prior to the Change in Control, in each of the foregoing
                  cases regardless of whether or not such cash payment or
                  restricted stock distribution has been deferred under the
                  Company's Executive Deferred Compensation Plan (or any
                  successor or similar plan).

                  (b)  If the aggregate payments and distributions to be made
                  by or on behalf of the Company or an Affiliate to or for the
                  benefit of the Executive (whether pursuant to the terms of
                  this Agreement or otherwise and including the accelerated
                  vesting of any equity-based awards or other compensation, but
                  determined without regard to any additional payments required
                  under this Section 5) as a result of a Change in Control would
                  subject the Participant to an excise tax (and any interest and
                  penalties incurred by the Executive with respect to such
                  excise tax) under Section 4999 of the Code, the Company will
                  pay the Executive, in addition to amounts otherwise payable
                  under this Agreement, a gross-up payment equal to the excise
                  tax the Executive must pay (including any interest and
                  penalties with respect thereto), plus the amount necessary to
                  pay all federal, state, local, excise, and payroll taxes (and
                  any interest and
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                  penalties imposed thereon) that will be assessed on the
                  gross-up payment itself.

                  (c)  Within ten days after Employment Termination, the
                  Company will provide the Company and the Executive with the
                  determination of the operation of the 2.99 limitation as
                  contemplated by this Section, the amount of the gross-up
                  payment relating thereto, if any, and detailed supporting
                  calculations and documentation. The Executive will have the
                  right to accept the determination, or to have the
                  determination reviewed by an accounting firm selected by the
                  Executive, at the Company's expense. The determination of the
                  accounting firm will be binding, final and conclusive on the
                  Company and the Executive. The Company will pay the gross-up
                  payment finally determined under this Section to the Executive
                  within fifteen days after it is finally determined."

         As amended hereby, the Agreement is ratified and confirmed.

         IN WITNESS WHEREOF, the parties have executed this Amendment as of May
15, 2001.

Heller Financial, Inc.

By:___________________________                        ________________________
         Richard J. Almeida                                 The Executive
Chairman and Chief Executive Officer

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