Document:

Director Compensation Policy effective April 25, 2009

 Exhibit 10.1 
 HARLEY-DAVIDSON, INC. 
 Director Compensation Policy 
 Effective April 25, 2009 
 This compensation policy has been developed to compensate non-employee directors (“Directors”) of Harley-Davidson, Inc. (the “Company”) for their time, commitment and contributions to the Board of Directors (the
“Board”) of the Company. It is expected that Directors will attend all meetings of the Board and of its Committees. 
  

	I.	Annual Retainer Fee for Non-Employee Directors 

  

				
		
	 Annual Retainer Fee for Non-Employee Directors
	  	$	80,000
		
	 Annual Retainer Fee for the Chairman of the Board of Directors
	  	 	10,000
		
	 Annual Retainer Fee for Committee Chairs
	  	 	10,000
		
	 Annual Retainer Fee for Audit Committee Members
	  	 	5,000

 Annual Retainer Fees paid to Directors of the Board will be paid within ten (10) business
days after the first business day following the annual meeting of the shareholders of the Company (“Annual Meeting”). In the event a Director is elected to the Board at a time other than at the Annual Meeting, the Annual Retainer Fee will
be prorated on a quarterly basis based on the quarter a Director is elected to the Board and paid within ten (10) business days after the first business day after the Director’s first Board or committee meeting. 
 Directors will be eligible to elect to receive Annual Retainer Fees in cash or Company Common Stock (based upon the fair market value
of the Common Stock on the first business day after the Annual Meeting or the first business day after the Director’s first Board or committee meeting) and to defer all Annual Retainer Fees paid in cash or Company Common Stock pursuant to plans
adopted by the Company from time to time. Directors must receive a minimum of one-half ( 1/2) of their Annual Retainer Fees in Company Common Stock until the Director reaches the stock ownership goals established in the Director and Senior Executive Stock Ownership Guidelines for Harley-Davidson, Inc.

  

	II.	Annual Grants to Non-Employee Directors 

 Directors will receive an annual grant of share units, each representing the value of one share of Company Common Stock, pursuant to plans adopted by the Company from time to time. A new director who joins the Board other than at the time
of an annual meeting will also receive a grant of share units. Payment will be deferred until a director ceases to serve as a director and will then be made in stock. 
  

	III.	Additional Compensation for and Payments to Non-Employee Directors 

 Clothing Allowance. Each Director shall receive an annual clothing allowance of $1,500 to purchase Harley-Davidson
MotorClothes® apparel and accessories. 
 Discount on Company Products. Each Director shall receive the same discount on Company products that is available to all Company employees. 
 Expenses. The Company will reimburse reasonable travel and related business expenses that a Director incurs for attendance at all meetings of the
Board and committees and in connection with other Board of Directors or Company business. 
 Motorcycle Usage. Management may provide
a Director with the use of a motorcycle where doing so may further a Company business objective.Retiree Insurance Allowance Plan

 Exhibit 10.2 
  
  
 HARLEY-DAVIDSON 
 RETIREE INSURANCE ALLOWANCE PLAN 
 Effective January 1, 2009, Together With

 Amendments Adopted Through May 31, 2009 

 TABLE OF CONTENTS 
  

					
	 	 	 	  	Page
	 ARTICLE I. DEFINITIONS AND CONSTRUCTION
	  	2
		 	 Section 1.01. Definitions.
	  	2
		 	 Section 1.02. Construction and Applicable Law.
	  	5
		
	 ARTICLE II. PARTICIPATION AND ELIGIBILITY FOR RETIREE INSURANCE ALLOWANCE
	  	6
		 	 Section 2.01. Participation
	  	6
		 	 Section 2.02. Eligibility for the Separation Allowance Benefit.
	  	6
		
	 ARTICLE III. CALCULATION AND PAYMENT OF RETIREE INSURANCE ALLOWANCE
	  	8
		 	 Section 3.01. Amount of Retiree Insurance Allowance.
	  	8
		 	 Section 3.02. Payment.
	  	8
		
	 ARTICLE IV. GENERAL PROVISIONS
	  	9
		 	 Section 4.01. Administration.
	  	9
		 	 Section 4.02. Claims Procedures.
	  	9
		 	 Section 4.03. Participant Rights Unsecured.
	  	11
		 	 Section 4.04. Distributions for Tax Withholding and Payment.
	  	11
		 	 Section 4.05. Amendment or Termination of Plan.
	  	12
		 	 Section 4.06. Administrative Expenses.
	  	12
		 	 Section 4.07. Successors and Assigns.
	  	12
		 	 Section 4.08. Right of Offset.
	  	12
		 	 Section 4.09. Not a Contract of Employment.
	  	13
		 	 Section 4.10. Miscellaneous Distribution Rules.
	  	13

  

 i 

 HARLEY-DAVIDSON 
 RETIREE INSURANCE ALLOWANCE PLAN 
 Pursuant to resolutions adopted by the Human Resources Committee
of the Board of Directors of Harley-Davidson, Inc., certain executives may become eligible for a lump sum retiree insurance allowance. This benefit was originally implemented as a payment in lieu of post-retirement life insurance. 
 To comply with the requirements of Code Section 409A, it is desirable to adopt a formal plan document, as set forth herein. The Plan is intended to
promote the best interests of the Company and its Affiliates by attracting and retaining key management employees possessing a strong interest in the successful operation of the Company and its Affiliates and encouraging their continued loyalty,
service and counsel to the Company and its Affiliates. 

 ARTICLE I. DEFINITIONS AND CONSTRUCTION 
 Section 1.01. Definitions. 
 The
following terms have the meanings indicated below unless the context in which the term is used clearly indicates otherwise: 
 (a)
Administrator: The Retirement Plans Committee appointed by the Board. 
 (b) Affiliate: Each corporation, trade or business that, with the
Company, forms part of a controlled group of corporations or group of trades or businesses under common control within the meaning of Code Sections 414(b) or (c); provided that for purpose of determining when a Participant has incurred a Separation
from Service, the phrase “at least fifty percent (50%)” shall be used in place of “at least eighty percent (80%)” each place it appears in Code Section 414(b) and (c) and the regulations thereunder. 
 (c) Base Compensation: A Participant’s annual base salary rate, prior to reduction for pre-tax or after-tax contributions by the Participant
Employee to any qualified or non-qualified employee benefit plan maintained by a Participating Employer, but exclusive of extraordinary payments such as overtime, bonuses, meal allowances, reimbursed expenses, termination pay, moving pay, commuting
expenses, severance pay, non-elective deferred compensation payments or accruals, stock options, restricted stock or restricted stock units, or the value of employer-provided fringe benefits or coverage, all as determined in accordance with such
uniform rules, regulations or standards as may be prescribed by the Administrator. 
 (d) Beneficiary: The person or entity designated by a
Participant to be his or her beneficiary for purposes of this Plan. If a beneficiary dies before receiving all payments due such beneficiary, any remaining payments will be made to the designated beneficiary’s estate unless a contingent
beneficiary was designated by the Participant as to such amounts. If there is a contingent beneficiary payments will be made to the contingent beneficiary and, if such contingent beneficiary dies, any remaining payments will be made to the
contingent beneficiary’s estate. If there is no beneficiary designation in force when Plan benefits become payable upon the death of a Participant, payment shall be made to the Participant’s current spouse, or if the Participant is not
married or the spouse is not then living, to the Participant’s estate. Beneficiary designations shall be in writing, filed with the Administrator, be in such form as the Administrator may prescribe for this purpose, and shall become effective
only upon acknowledgement by the Administrator. 
  

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 (e) Board: The Board of Directors of the Company. 
 (f) Code: The Internal Revenue Code of 1986, as interpreted by regulations and rulings issued pursuant thereto, all as amended and in effect from time to
time. Any reference to a specific provision of the Code shall be deemed to include reference to any successor provision thereto. 
 (g)
Committee: The Human Resources Committee of the Board of Directors of Harley-Davidson, Inc. 
 (h) Company: Harley-Davidson, Inc., or any
successor thereto. 
 (i) ERISA: The Employee Retirement Income Security Act of 1974, as interpreted by regulations and rulings issued
pursuant thereto, all as amended and in effect from time to time. Any reference to a specific provision of ERISA shall be deemed to include reference to any successor provision thereto. 
 (j) Participant: An employee who becomes a participant in the Plan in accordance with Section 2.01. 
 (k) Participating Employer: The Company and each Affiliate that, with the consent of the Administrator or the Committee, participates in the Plan for the
benefit of one or more Participants. 
 (l) Retiree Insurance Allowance: The benefit described in Section 3.01(a), consisting of both
the Retiree Insurance Base Amount and the tax gross-up payment. 
 (m) Retiree Insurance Base Amount: The portion of the Retiree Insurance
Allowance described in clause (i) of Section 3.01(a), exclusive of the tax gross-up payment. 
  

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 (n) Separation from Service: The date on which a Participant separates from service (within the meaning
of Code Section 409A) from the Company and all Affiliates. A Separation from Service occurs when the Company and the Participant reasonably anticipate that no further services will be performed by the Participant for the Company and its
Affiliates after that date or that the level of bona fide services the Participant will perform after such date as an employee of the Company or an Affiliate will permanently decrease to no more than 20% of the average level of bona fide services
performed by the Participant (whether as an employee or independent contractor) for the Company and its Affiliates over the immediately preceding 36-month period (or such lesser period of services). The Participant is not considered to have incurred
a Separation from Service if the Participant is absent from active employment due to military leave, sick leave or other bona fide reason if the period of such leave does not exceed the greater of (i) six months, or (ii) the period during
which the Participant’s right to reemployment by the Company or an Affiliate is provided either by statute or by contract; provided that if the leave of absence is due to a medically determinable physical or mental impairment that can be
expected to result in death or last for a continuous period of not less than six months, where such impairment causes the Participant to be unable to perform the duties of his or her position of employment or any substantially similar position of
employment, the leave may be extended for up to 29 months without causing the Participant to have incurred a Separation from Service. 
 (o)
Specified Employee: A Participant who, as of the date of the Participant’s Separation from Service, is treated as a Specified Employee in accordance with Code Section 409A and the rules below. The Plan will identify Specified Employees
each year as of December 31, which shall be the Plan’s Specified Employee identification date. A Participant who is identified as of December 31 as satisfying the requirements for classification as a Specified Employee will be treated
as a Specified Employee for the entire 12 month period that begins on the April 1 following the December 31 Specified Employee identification date and ends on the following March 31. A Participant satisfies the requirements for
classification as a Specified Employee if the Participant, at any time during the 12-month period ending on the Specified Employee identification date, is (i) an officer of the Company or an Affiliate having annual compensation from the Company
and its Affiliates of greater than $130,000, as indexed; provided that no more than 50 employees, or if lesser, the greater of three or 10 percent of all employees, shall be treated as officers, (ii) a five percent owner of the Company or an

  

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Affiliate, or (iii) a one percent owner of the Company or an Affiliate having annual compensation from the Company and its Affiliates of greater than
$150,000, as indexed, in all cases applied in accordance with the regulations issued by the Secretary of the Treasury under Code Section 409A. 
 Section 1.02. Construction and Applicable Law. 
 (a) Wherever any words are used in the masculine, they shall be
construed as though they were used in the feminine in all cases where they would so apply; and wherever any words are use in the singular or the plural, they shall be construed as though they were used in the plural or the singular, as the case may
be, in all cases where they would so apply. Titles of articles and sections are for general information only, and the Plan is not to be construed by reference to such items. 
 (b) This Plan is intended to be a plan of deferred compensation maintained for a select group of management or highly compensated employees as that term
is used in ERISA, and shall be interpreted so as to comply with the applicable requirements thereof. In all other respects, the Plan is to be construed and its validity determined according to the laws of the State of Wisconsin (without reference to
conflict of law principles thereof) to the extent such laws are not preempted by federal law, and any action for benefits under the Plan or to enforce the terms of the Plan shall be heard in the State of Wisconsin by the court with jurisdiction over
the claim. In case any provision of the Plan is held illegal or invalid for any reason, the illegality or invalidity will not affect the remaining parts of the Plan, but the Plan shall, to the extent possible, be construed and enforced as if the
illegal or invalid provision had never been inserted. 
  

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 ARTICLE II. PARTICIPATION AND ELIGIBILITY FOR 
 RETIREE INSURANCE ALLOWANCE 
 Section 2.01. Participation. Unless the Committee has promulgated different eligibility rules, a common law employee of a Participating Employer shall be a Participant if the employee is at the S80 career band level or above.

 Section 2.02. Eligibility for the Separation Allowance Benefit. 
 (a) A Participant will be entitled to receive the Retiree Insurance Allowance if: 
  

	 	(i)	The Participant satisfies the participation requirements set forth in Section 2.01 above immediately prior to his or her retirement for reasons other than death; and

  

	 	(ii)	The Participant retires from active employment with the Company and its Affiliates on or after attainment of age fifty-five (55) and completion of five (5) or more years
of service. For this purpose, a Participant’s service means (i) in the case of a Participant hired prior to August 1, 2006, the Participant’s service for vesting purposes that is recognized under the Retirement Annuity Plan for
Salaried Employees of Harley-Davidson, and (ii) in the case of a Participant hired on or after August 1, 2006, the Participant’s service for vesting purposes that is recognized under the Retirement Savings Plan for Salaried Employees
of Harley-Davidson, or any successor to such plans. 

 (b) If the Participant dies after retirement but prior to receipt of the
Retiree Insurance Allowance, the Retiree Insurance Allowance will be paid to the Participant’s Beneficiary. If the Participant dies prior to retirement, even if the Participant is eligible to retire, no benefit is payable under the Plan.

  

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 (c) The Retiree Insurance Allowance shall not duplicate any other program of the Company or an Affiliate
under which the Executive may be entitled to a payment in lieu of post-retirement life insurance. 
  

 7 

 ARTICLE III. CALCULATION AND PAYMENT OF 
 RETIREE INSURANCE ALLOWANCE 
 Section 3.01. Amount of Retiree Insurance
Allowance. 
 (a) Amount. The Retiree Insurance Allowance shall be an amount equal to the sum of (i) one times the
Participant’s Base Compensation immediately prior to the Participant’s retirement (the Retiree Insurance Base Amount), and (ii) the tax gross-up amount determined under subsection (b) below. 
 (b) Tax Gross Up Amount. The tax gross-up amount is an additional amount such that the net amount retained by the Participant, after deduction for
federal and state income taxes and FICA and Medicare employment taxes on the Retiree Insurance Base Amount, and any federal and state income taxes and FICA and Medicare employment taxes on the additional payment, shall equal the Retiree Insurance
Base Amount. For purposes of determining the tax gross-up amount, the Participant shall be deemed to pay federal and state income taxes at the highest marginal rate of federal and state income taxation in the calendar year in which the payment is to
be made. 
 Section 3.02. Payment. 
 The Retiree Insurance Allowance shall be paid, in a single cash payment, within ninety (90) days following the Participant’s Separation from Service; provided that if the Participant is a Specified Employee
at the time of the Participant’s Separation from Service, the distribution shall be made on the first business day of the month following the month in which occurs the six month anniversary of the date of the Participant’s Separation from
Service. Notwithstanding anything herein to the contrary, if at the time of a Participant’s Separation from Service the stock of Harley-Davidson, Inc. or any other related entity that is considered a “service recipient” within the
meaning of section 409A of the Code is not traded on an established securities market or otherwise, then the provisions of the Plan requiring that payments be delayed for six months shall cease to apply, and in such event, the payment shall be made
within ninety (90) days following the date of the Participant’s Separation from Service. 
  

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 ARTICLE IV. GENERAL PROVISIONS 
 Section 4.01. Administration. 
 The Administrator shall administer and interpret the Plan. The Administrator may, in its discretion, delegate any or all of its authority and responsibility, and to the extent of any such delegation, any references herein to the
Administrator shall be deemed references to such delegee; provide that any such delegee shall not act in any non-ministerial fashion in a matter affecting the delegee’s own participation or interest in the Plan. Interpretation of the Plan shall
be within the sole discretion of the Administrator or the Committee and shall be final and binding upon each Participant and Beneficiary. The Administrator or the Committee may adopt and modify rules and regulations relating to the Plan as it deems
necessary or advisable for the administration of the Plan. Further, the Administrator shall not act in any non-ministerial fashion in any matter that affects one or more of the members of the committee that is the Administrator (unless such action
affects all Participants uniformly) and any such action will be taken or decision made by the Committee. 
 Section 4.02. Claims
Procedures. 
 (a) If a Participant or Beneficiary (the “claimant”) believes that he is entitled to a benefit under the Plan
that is not provided, the claimant or his or her legal representative shall file a written claim for such benefit with the Administrator, not later than ninety (90) days after the payment (or first payment) is made (or should have been made) in
accordance with the terms of the Plan or in accordance with regulations issued by the Secretary of the Treasury under Code Section 409A. Any such claim shall be filed in writing stating the nature of the claim, and the facts supporting the
claim, the amount claimed and the name and address of the claimant. The Administrator shall review the claim. If the Administrator denies the claim, it shall deliver, within one hundred thirty-five (135) days of the date the first payment was
made (or should have been made) in accordance with the terms of the Plan or in accordance with regulations issued by the Secretary of the Treasury under Code Section 409A, a written notice of such denial decision. If the claimant’s claim
is denied in whole or part, the Administrator shall provide written notice to the claimant of such denial. The written notice shall include the specific reason(s) for the denial; reference to specific Plan provisions upon which the denial is based;
a description of any 
  

 9 

 additional material or information necessary for the claimant to perfect the claim and an explanation of why such
material or information is necessary; and a description of the Plan’s review procedures (as set forth in subsection (b)) and the time limits applicable to such procedures, including a statement of the claimant’s right to bring a civil
action under Section 502(a) of ERISA following an adverse determination upon review. 
 (b) The claimant has the right to appeal the
Administrator’s decision by filing a written appeal to the Administrator within 180 days after the payment (or first payment) is made (or should have been made) in accordance with the terms of the Plan or in accordance with regulations issued
by the Secretary of the Treasury under Code Section 409A. The claimant will have the opportunity, upon request and free of charge, to have reasonable access to and copies of all documents, records and other information relevant to the
claimant’s appeal. The claimant may submit written comments, documents, records and other information relating to his or her claim with the appeal. The Administrator will review all comments, documents, records and other information submitted
by the claimant relating to the claim, regardless of whether such information was submitted or considered in the initial claim determination. The Administrator shall make a determination on the appeal within 60 days after receiving the
claimant’s written appeal; provided that the Administrator may determine that an additional 60-day extension is necessary due to circumstances beyond the Administrator’s control, in which event the Administrator shall notify the claimant
prior to the end of the initial period that an extension is needed, the reason therefor and the date by which the Administrator expects to render a decision. If the claimant’s appeal is denied in whole or part, the Administrator shall provide
written notice to the claimant of such denial. The written notice shall include the specific reason(s) for the denial; reference to specific Plan provisions upon which the denial is based; a statement that the claimant is entitled to receive, upon
request and free of charge, reasonable access to and copies of all documents, records, and other information relevant to the claimant’s claim; and a statement of the claimant’s right to bring a civil action under Section 502(a) of
ERISA. 
  

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 Section 4.03. Participant Rights Unsecured. 
 (a) Unsecured Claim. The right of a Participant or the Participant’s Beneficiary to receive a distribution hereunder shall be an unsecured
claim, and neither the Participant nor any Beneficiary shall have any rights in or against any amount credited to his or her Account or any other specific assets of a Participating Employer. The right of a Participant or Beneficiary to the payment
of benefits under this Plan shall not be assigned, encumbered, or transferred, except by will or the laws of descent and distribution. The rights of a Participant hereunder are exercisable during the Participant’s lifetime only by the
Participant or his or her guardian or legal representative. 
 (b) Contractual Obligation. The Company may authorize the creation of a
trust or other arrangements to assist it in meeting the obligations created under the Plan. However, any liability to any person with respect to the Plan shall be based solely upon any contractual obligations that may be created pursuant to the
Plan. No obligation of a Participating Employer shall be deemed to be secured by any pledge of, or other encumbrance on, any property of a Participating Employer. Nothing contained in this Plan and no action taken pursuant to its terms shall create
or be construed to create a trust of any kind, or a fiduciary relationship between a Participating Employer and any Participant or Beneficiary, or any other person. 
 Section 4.04. Distributions for Tax Withholding and Payment. 
 (a) Notwithstanding the time or
schedule of payments otherwise applicable to the Participant, the Administrator may direct that distribution from a Participant’s vested Account be made (i) to pay the Federal Insurance Contributions Act (FICA) tax imposed under Code
Sections 3101, 3121(a) and 3121(v)(2) with respect to compensation deferred under the Plan, (ii) to pay the income tax at source on wages imposed under Code Section 3401 or the corresponding withholding provisions of applicable state,
local, or foreign tax laws as a result of the payment of FICA taxes, and (iii) to pay the additional income tax at source on wages attributable to the “pyramiding” of Code Section 3401 wages and taxes; provided that the total
amount distributed under this provision must not exceed the aggregate of the FICA tax and the income tax withholding related to such FICA tax. 
  

 11 

 (b) The amount actually distributed to the Participant in accordance with the time or schedule of
payments applicable to the Participant will be reduced by applicable tax withholding except to the extent such withholding requirements previously were satisfied in accordance with subsection (a) above. 
 Section 4.05. Amendment or Termination of Plan. 
 (a) There shall be no time limit on the duration of the Plan. 
 (b) The Company, by action of the Human
Resources Committee of the Board, may at any time amend or terminate the Plan; provided, however, that no amendment or termination may reduce or eliminate the undistributed benefit payable to or on behalf of a Participant who retired with an
entitlement to a Retiree Insurance Allowance prior to the date on which such action to amend or terminate the Plan is adopted. Termination of the Plan will not operate to accelerate distribution in violation of Code Section 409A. 
 Section 4.06. Administrative Expenses. 
 Costs of establishing and administering the Plan will be paid by the Participating Employers. 
 Section 4.07. Successors
and Assigns. 
 This Plan shall be binding upon and inure to the benefit of the Participating Employers, their successors and assigns and
the Participants and their heirs, executors, administrators, and legal representatives. 
 Section 4.08. Right of Offset.

 To the extent that such action does not violate Code Section 409A, the Participating Employers shall have the right to offset from the
benefits payable hereunder (and at the time such benefit would otherwise be payable) any amount that the Participant owes to the Company or an Affiliate or other entity in which the Company or an Affiliate maintains an ownership interest. The offset
shall be applied so as to include, but shall not be limited to, any fines, penalties, damages or any other amounts (including attorneys’ fees) imposed on or paid by the Company or Affiliate as a result of any conduct of the Participant during
the Participant’s employment. The Company may effectuate the offset without the consent of the Participant (or the Participant’s spouse or Beneficiary, in the event of the Participant’s death). 
  

 12 

 Section 4.09. Not a Contract of Employment. 
 This Plan may not be construed as giving any person the right to be retained as an employee of the Company or any Affiliate. 
 Section 4.10. Miscellaneous Distribution Rules. 
 (a) Accelerated Distribution Following Section 409A Failure. If an amount under this Plan is required to be included in a Participant’s income under Code Section 409A prior to the date such
amount is actually distributed, the Participant shall receive a distribution, in a lump sum, within ninety (90) days after the date it is finally determined that the Plan fails to meet the requirements of Code Section 409A. The
distribution shall equal the amount required to be included in the Participant’s income as a result of such failure. 
 (b) Permitted
Delay in Payment. If a distribution required under the terms of this Plan would jeopardize the ability of the Company or of an Affiliate to continue as a going concern, the Company or the Affiliate shall not be required to make such
distribution. Rather, the distribution shall be delayed until the first date that making the distribution does not jeopardize the ability of the Company or of an Affiliate to continue as a going concern. Further, if any distribution pursuant to the
Plan will violate the terms of Section 16(b) of the Securities Exchange Act of 1934 or other Federal securities laws, or any other applicable law, then the distribution shall be delayed until the earliest date on which making the distribution
will not violate such law. 
  

			
	HARLEY-DAVIDSON, INC.
		
	By:	 	  

		
	 Title:
	 	  

		
	 Date:
	 	  

  

 13

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