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                                                                EXHIBIT 10.15(a)

                              EMPLOYMENT AGREEMENT

         THIS AGREEMENT, made and entered into as of March 1, 2002 by and
between Household International, Inc., a Delaware corporation, (hereinafter
called the "Corporation") and Kenneth M. Harvey (hereinafter called the
"Executive").

                                WITNESSETH THAT:

         WHEREAS, the Executive is currently employed by the Corporation under
an employment agreement dated April 1, 1999; and

         WHEREAS, the Corporation desires to continue to employ the Executive as
its Executive Vice President-Chief Information Officer, and the Executive
desires to continue in such employment, on amended and restated terms and
conditions;

         NOW, THEREFORE, the Corporation and the Executive, each intending to be
legally bound, hereby mutually covenant and agree as follows:

         1. Employment and Term.

                  (a) Employment. The Corporation shall continue to employ the
Executive as Executive Vice President-Chief Information Officer of the
Corporation, and the Executive shall so serve, for the term set forth in
Paragraph 1(b).

                  (b) Term. The initial term of the Executive's employment under
this Agreement shall commence as of March 1, 2002 (the "Effective Date") and end
on August 31, 2003, subject to the extension of such term as hereinafter
provided and subject to earlier termination as provided in Paragraph 7, below.
Beginning on March 1, 2002, the term of this Agreement shall be extended
automatically for one (1) additional day for each day which has then elapsed
since March 1, 2002, unless, at any time after March 1, 2002, either the Board
of Directors of the Corporation (the "Board"), on behalf of the Corporation, or
the Executive gives written notice to the other that such automatic extension of
the term of this Agreement shall cease. Any such notice shall be effective
immediately upon delivery. The initial term of this Agreement, plus any
extension by operation of this Paragraph 1, shall be hereinafter referred to as
the "Term."

         2. Duties. During the period of employment as provided in Paragraph
1(b) hereof, the Executive shall serve as Executive Vice President-Chief
Information Officer of the Corporation and have all powers and duties consistent
with such position, subject to the reasonable direction of the Board and of the
Chief Executive Officer of the Corporation. The Executive shall also continue to
serve as a member of the Board if elected as such. The Executive shall devote
substantially his entire time during reasonable business hours (reasonable sick
leave and vacations excepted) and best efforts to fulfill faithfully,
responsibly and to the best of his ability his duties hereunder. However, the
Executive may,

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with the approval of the Board or of the Chief Executive Officer of the
Corporation, which shall not be withheld unreasonably, serve on corporate, civic
and/or charitable boards and committees.

         3. Salary.

                  (a) Base Salary. For services performed by the Executive for
the Corporation pursuant to this Agreement during the period of employment as
provided in Paragraph 1(b) hereof, the Corporation shall pay the Executive a
base salary of $350,000 per year, payable in substantially equal installments in
accordance with the Corporation's regular payroll practices. The Executive's
base salary (with any increases under paragraph (b), below) shall not be subject
to reduction. Any compensation which may be paid to the Executive under any
additional compensation or incentive plan of the Corporation or which may be
otherwise authorized from time to time by the Board (or an appropriate committee
thereof) shall be in addition to the base salary to which the Executive shall be
entitled under this Agreement.

                  (b) Salary Increases. During the period of employment as
provided in Paragraph 1(b) hereof, the base salary of the Executive shall be
reviewed no less frequently than annually by the Board or the Compensation
Committee of the Board or the Chief Executive Officer of the Corporation to
determine whether or not the same should be increased in light of the duties and
responsibilities of the Executive and the performance thereof, and if it is
determined that an increase is merited, such increase shall be promptly put into
effect and the base salary of the Executive as so increased shall constitute the
base salary of the Executive for purposes of Paragraph 3(a).

         4. Annual Bonuses. For each calendar year during the term of
employment, the Executive shall be eligible to receive in cash an annual
performance bonus based upon the terms of the Corporation's bonus plan from time
to time for senior executives, as adopted by the Board and administered by the
Compensation Committee.

         5. Equity Incentive Compensation. During the term of employment
hereunder the Executive shall be eligible to participate, in the manner and to
the extent approved by the Board or the Compensation Committee, in any
equity-based incentive compensation plan or program approved by the Board from
time to time, including (but not by way of limitation) any plan providing for
the granting of (a) options to purchase stock of the Corporation, (b) restricted
stock of the Corporation or (c) similar equity-based units or interests, with
awards to the Executive that are of appropriate size and nature relative to
those for other senior executives and the individual performance of the
Executive.

         6. Other Benefits. In addition to the compensation described in
Paragraphs 3, 4 and 5, above, the Executive shall also be entitled to
participate in all of the various retirement, welfare, fringe benefit, executive
perquisite, and expense reimbursement plans, programs and arrangements of the
Corporation to the extent the Executive is eligible for participation under the
terms of such plans, programs and arrangements, with benefit levels

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and terms of participation at least as favorable to the Executive as those in
effect on the Effective Date, except that the Executive's benefits and/or
perquisites may be reduced in connection with similar reductions uniformly
applied with respect to all similarly situated employees.

         7. Termination. Unless earlier terminated in accordance with the
following provisions of this Paragraph 7, the Corporation shall continue to
employ the Executive and the Executive shall remain employed by the Corporation
during the entire term of this Agreement as set forth in Paragraph 1(b).
Paragraph 9 hereof sets forth certain obligations of the Corporation in the
event that the Executive's employment hereunder is terminated. Certain
capitalized terms used in this Paragraph 7 and in Paragraphs 8 and 9 hereof are
defined in Paragraph 7(d), below.

                  (a) Death or Disability. Except to the extent otherwise
provided in Paragraph 9 with respect to certain post-Date of Termination payment
obligations of the Corporation, this Agreement shall terminate immediately as of
the Date of Termination in the event of the Executive's death or in the event
that the Executive becomes disabled. The Executive will be deemed to be disabled
upon the earlier of (i) the end of a six (6)-consecutive month period during
which, by reason of physical or mental injury or disease, the Executive has been
unable to perform substantially all of his usual and customary duties under this
Agreement or (ii) the date that a reputable physician selected by the Board, and
as to whom the Executive has no reasonable objection, determines in writing that
the Executive will, by reason of physical or mental injury or disease, be unable
to perform substantially all of the Executive's usual and customary duties under
this Agreement for a period of at least six (6) consecutive months. If any
question arises as to whether the Executive is disabled, upon reasonable request
therefor by the Board, the Executive shall submit to reasonable medical
examination for the purpose of determining the existence, nature and extent of
any such disability. The Board shall promptly give the Executive written notice
of any such determination of the Executive's disability and of any decision of
the Board to terminate the Executive's employment by reason thereof. Until the
Date of Termination for disability, the base salary payable to the Executive
under Paragraph 3 hereof shall be reduced dollar-for-dollar by the amount of any
disability benefits paid to the Executive in accordance with any disability
policy or program of the Corporation.

                  (b) Discharge for Cause. In accordance with the procedures
hereinafter set forth, the Board may discharge the Executive from his employment
hereunder for Cause. Except to the extent otherwise provided in Paragraph 9 with
respect to certain post-Date of Termination obligations of the Corporation, this
Agreement shall terminate immediately as of the Date of Termination in the event
the Executive is discharged for Cause. Any discharge of the Executive for Cause
shall be communicated by a Notice of Termination to the Executive given in
accordance with Paragraph 16 of this Agreement. For purposes of this Agreement,
a "Notice of Termination" means a written notice which (i) indicates the
specific termination provision in this Agreement relied upon, (ii) sets forth in
reasonable detail the facts and circumstances claimed to provide a basis for
termination of the Executive's employment under the provision so indicated and
(iii) specifies the termination date, which may be as

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early as the date of the giving of such notice. No purported termination of the
Executive's employment for Cause shall be effective without a Notice of
Termination.

                  (c) Termination for Other Reasons. The Corporation may
discharge the Executive without Cause by giving written notice to the Executive
in accordance with Paragraph 16 at least fifteen (15) days prior to the Date of
Termination. The Executive may resign from his employment, without liability to
the Corporation, by giving written notice to the Corporation in accordance with
Paragraph 16 at least fifteen (15) days prior to the Date of Termination. Except
to the extent otherwise provided in Paragraph 9 with respect to certain
post-Date of Termination obligations of the Corporation, this Agreement shall
terminate immediately as of the Date of Termination in the event the Executive
is discharged without Cause or resigns.

                  (d) Definitions. For purposes of this Agreement, the following
capitalized terms shall have the meanings set forth below:

                           (i) "Accrued Obligations" shall mean, as of the Date
of Termination, the sum of (A) the Executive's base salary under Paragraph 3
through the Date of Termination to the extent not theretofore paid, (B) the
amount of any bonus, incentive compensation, deferred compensation and other
cash compensation accrued by the Executive as of the Date of Termination to the
extent not theretofore paid and (C) any vacation pay, expense reimbursements and
other cash entitlements accrued by the Executive as of the Date of Termination
to the extent not theretofore paid. For the purpose of this Paragraph 7(d)(i),
amounts shall be deemed to accrue ratably over the period during which they are
earned, but no discretionary compensation shall be deemed earned or accrued
until it is specifically approved by the Board or the Compensation Committee in
accordance with the applicable plan, program or policy.

                           (ii) "Cause" shall mean: (A) the Executive's
commission of an act materially and demonstrably detrimental to the financial
condition and/or goodwill of the Corporation or any of its subsidiaries, which
act constitutes gross negligence or willful misconduct by the Executive in the
performance of his material duties to the Corporation or any of its
subsidiaries, or (B) the Executive's commission of any material act of
dishonesty or breach of trust resulting or intended to result in material
personal gain or enrichment of the Executive at the expense of the Corporation
or any of its subsidiaries, or (C) the Executive's conviction of a felony
involving moral turpitude, but specifically excluding any conviction based
entirely on vicarious liability. No act or failure to act will be considered
"willful" unless it is done, or omitted to be done, by the Executive in bad
faith or without reasonable belief that his action or omission was in the best
interests of the Corporation. In addition, no act or omission will constitute
Cause unless the Corporation has given detailed written notice thereof to the
Executive and, where remedial action is feasible, he then fails to remedy the
act or omission within a reasonable time after receiving such notice.

                           (iii) A "Change in Control" shall be deemed to have
occurred if:

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                           (A) Any "person" (as defined in Section 13(d) and
14(d) of the Securities Exchange Act of 1934, as amended (the "Exchange Act")),
excluding for this purpose the Corporation or any subsidiary of the Corporation,
or any employee benefit plan of the Corporation or any subsidiary of the
Corporation, or any person or entity organized, appointed or established by the
Corporation for or pursuant to the terms of such plan which acquires beneficial
ownership of voting securities of the Corporation, is or becomes the "beneficial
owner" (as defined in Rule 13d-3 under the Exchange Act) directly or indirectly
of securities of the Corporation representing twenty percent (20%) or more of
the combined voting power of the Corporation's then outstanding securities;
provided, however, that no Change in Control shall be deemed to have occurred as
the result of an acquisition of securities of the Corporation by the Corporation
which, by reducing the number of voting securities outstanding, increases the
direct or indirect beneficial ownership interest of any person to twenty percent
(20%) or more of the combined voting power of the Corporation's then outstanding
securities, but any subsequent increase in the direct or indirect beneficial
ownership interest of such a person in the Corporation shall be deemed a Change
in Control; and provided further that if the Board of Directors of the
Corporation determines in good faith that a person who has become the beneficial
owner directly or indirectly of securities of the Corporation representing
twenty percent (20%) or more of the combined voting power of the Corporation's
then outstanding securities has inadvertently reached that level of ownership
interest, and if such person divests as promptly as practicable a sufficient
amount of securities of the Corporation so that the person no longer has a
direct or indirect beneficial ownership interest in twenty percent (20%) or more
of the combined voting power of the Corporation's then outstanding securities,
then no Change in Control shall be deemed to have occurred;

                           (B) During any period of two (2) consecutive years
(not including any period prior to the Effective Date of this Agreement),
individuals who at the beginning of such two-year period constitute the Board of
Directors of the Corporation and any new director or directors (except for any
director designated by a person who has entered into an agreement with the
Corporation to effect a transaction described in subparagraph (A), above, or
subparagraph (C), below) whose election by the Board or nomination for election
by the Corporation's shareholders was approved by a vote of at least two-thirds
of the directors then still in office who either were directors at the beginning
of the period or whose election or nomination for election was previously so
approved, cease for any reason to constitute at least a majority of the Board
(such individuals and any such new directors being referred to as the "Incumbent
Board"); or

                           (C) Consummation of (1) an agreement for the sale or
disposition of the Corporation or all or substantially all of the Corporation's
assets, (2) a plan of merger or consolidation of the Corporation with any other
corporation, or (3) a similar transaction or series of transactions involving
the Corporation (any transaction described in parts (1) through (3) of this
subparagraph (C) being referred to as a "Business Combination"), in each case
unless after such a Business Combination (x) the shareholders of the Corporation
immediately prior to the Business Combination continue to own, directly or
indirectly, more than sixty percent (60%) of the combined voting power of the
then outstanding voting

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securities entitled to vote generally in the election of directors of the new
(or continued) entity (including, but not by way of limitation, an entity which
as a result of such transaction owns the Corporation or all or substantially all
of the Corporation's former assets either directly or through one or more
subsidiaries) immediately after such Business Combination, in substantially the
same proportion as their ownership of the Corporation immediately prior to such
Business Combination, (y) no person (excluding any entity resulting from such
Business Combination or any employee benefit plan (or related trust) of the
Corporation or of such entity resulting from such Business Combination)
beneficially owns, directly or indirectly, twenty percent (20%) or more of the
then combined voting power of the then outstanding voting securities of such
entity, except to the extent that such ownership existed prior to the Business
Combination, and (z) at least a majority of the members of the board of
directors of the entity resulting from such Business Combination were members of
the Incumbent Board at the time of the execution of the initial agreement, or of
the action of the Board, providing for such Business Combination; or

                           (D) Approval by the shareholders of the Corporation
of a complete liquidation or dissolution of the Corporation.

                           Any other provision of this Agreement to the contrary
notwithstanding, a "Change in Control" shall not include any transaction
described in subparagraph (A) or (C), above, where, in connection with such
transaction, the Executive and/or any party acting in concert with the Executive
substantially increases his or its, as the case may be, ownership interest in
the Corporation or a successor to the Corporation (other than through conversion
of prior ownership interests in the Corporation and/or through equity awards
received entirely as compensation for past or future personal services).

                           (iv) "Date of Termination" shall mean (A) in the
event of a discharge of the Executive by the Board for Cause, the date specified
in such Notice of Termination, (B) in the event of a discharge of the Executive
without Cause or a resignation by the Executive, the date specified in the
written notice to the Executive (in the case of discharge) or the Corporation
(in the case of resignation), which date shall be no less than fifteen (15) days
from the date of such written notice, (C) in the event of the Executive's death,
the date of the Executive's death, and (D) in the event of termination of the
Executive's employment by reason of disability pursuant to Paragraph 7(a), the
date the Executive receives written notice of such termination.

                           (v) "Good Reason" shall mean any of the following
without the consent of the Executive: (A) the failure to re-elect the Executive
as Executive Vice President-Chief Information Officer, (B) assignment of duties
inconsistent with the Executive's position, authority, duties or
responsibilities, or any other action by the Corporation which results in a
substantial diminution of such position, authority, duties or responsibilities,
other than an isolated, insubstantial and inadvertent action not taken in bad
faith and which is remedied by the Corporation promptly after receipt of notice
thereof given by the Executive, (C) any failure by the Corporation to comply
with any of the provisions of this Agreement, including (but not by way of
limitation) those provisions regarding

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compensation and benefits, other than an isolated, insubstantial and inadvertent
action not taken in bad faith and which is remedied by the Corporation promptly
after receipt of notice thereof given by the Executive, or (D) the Corporation
giving notice to the Executive to stop further operation of the evergreen
feature described in Paragraph 1(b), above. However, during the period of three
(3) years after a Change in Control, "Good Reason" shall also include the
Executive being reassigned, without the Executive's consent, to an office
location outside of the Chicago, Illinois metropolitan area. In addition,
termination by the Executive for any reason during the sixty (60)-day period
which begins twelve (12) months after a Change in Control shall be deemed to be
a termination for Good Reason; provided, however, that if the Executive dies
after a Change in Control but less than twelve (12) months after a Change in
Control, the Executive will be deemed to have terminated employment for Good
Reason twelve (12) months after the Change in Control.

                           (vi) "Qualifying Termination" shall mean termination
of the Executive's employment under this Agreement (A) by reason of the
discharge of the Executive by the Corporation other than for Cause or disability
or (B) by reason of the resignation of the Executive for Good Reason within
twelve (12) months after an event constituting Good Reason or (C) in accordance
with the last sentence of the definition of Good Reason in subparagraph (v),
above.

                  (e) Continuing Obligations. Notwithstanding the termination of
this Agreement pursuant to Paragraph 7(a), 7(b) or 7(c) above, or upon the
expiration of the term described in Paragraph 1 above, the respective covenants,
agreements and obligations of the Corporation and the Executive set forth
hereinafter shall continue.

         8. Vesting of Equity Awards Upon a Change in Control. Immediately upon
the Change in Control, all stock options, restricted stock and other equity
awards previously made to the Executive which are not otherwise vested shall
vest in full, and all such options shall remain exercisable for the period
provided for the applicable plan or award agreement.

         9. Obligations of the Corporation Upon Termination. The following
provisions describe the obligations of the Corporation to the Executive under
this Agreement upon termination of his employment. However, except as explicitly
provided in this Agreement, nothing in this Agreement shall limit or otherwise
adversely affect any rights which the Executive may have under applicable law,
under any other agreement with the Corporation or any of its subsidiaries, or
under any compensation or benefit plan, program, policy or practice of the
Corporation or any of its subsidiaries.

                  (a) Death, Disability, Discharge for Cause, or Resignation
Without Good Reason. In the event this Agreement terminates by reason of the
death or disability of the Executive, or by reason of the discharge of the
Executive by the Corporation for Cause, or by reason of the resignation of the
Executive other than for Good Reason, the Corporation shall pay to the
Executive, or his heirs or estate, in the event of the Executive's death, all
Accrued Obligations in a lump sum within thirty (30) days after the Date of
Termination; provided, however, that any portion of the Accrued Obligations
which consists of bonus, deferred

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compensation, or incentive compensation shall be determined and paid in
accordance with the terms of the relevant plan as applicable to the Executive.

                  (b) Death, Disability or Retirement. In the event that
Executive's employment is terminated by death, disability or retirement under a
retirement plan of the Corporation, the Executive shall be entitled to receive
in a lump sum within thirty (30) days after the Date of Termination, in addition
to the compensation and benefits described in paragraph (a) above, a pro rata
cash bonus for the year in which the Date of Termination occurs equal to the
product of (i) the highest of the annual bonuses payable to the Executive for
the three (3) years preceding the year in which the Date of Termination occurs,
including any bonus or portion thereof that has been earned but deferred (and
annualized for any fiscal year consisting of less than 12 full months or during
which the Executive was employed for less than 12 full months) (the "Highest
Annual Bonus"), and (ii) a fraction, the numerator of which is the number of
days in the current fiscal year through the Date of Termination, and the
denominator of which is 365.

                  (c) Qualifying Termination Without a Change in Control. In the
event of a Qualifying Termination without a Change in Control, the Executive
shall, upon executing and delivering a release of liability satisfactory to the
Corporation, receive the following benefits:

                           (i) Payment of all Accrued Obligations in a lump sum
within thirty (30) days after the Date of Termination; provided, however, that
any portion of the Accrued Obligations which consists of bonus, deferred
compensation or incentive compensation shall be determined and paid in
accordance with the terms of the relevant plan as applicable to the Executive,

                           (ii) Payment in a lump sum within thirty (30) days
after the Date of Termination of a salary replacement amount equal to one
hundred fifty percent (150%) of the Executive's base salary as in effect prior
to the termination,

                           (iii) Payment in a lump sum within thirty (30) days
after the Date of Termination of a bonus replacement amount equal to one hundred
fifty percent (150%) of the Highest Annual Bonus,

                           (iv) Continuation, for a period of eighteen (18)
months after the Date of Termination, of health insurance benefits under the
Consolidated Omnibus Budget Reconciliation Act ("COBRA") with the cost of such
benefits to be paid by the Corporation, but such benefits may be discontinued
earlier to the extent that the Executive becomes entitled to comparable benefits
from a subsequent employer,

                           (v) Immediate pro rata vesting of all stock options,
restricted stock and other equity or incentive compensation awards to the
Executive which are not otherwise fully vested, with all options to remain
exercisable for the period provided for in the applicable plan or award
agreement. The proration of each award shall be done by multiplying the full
award by a fraction, the numerator of which shall be the number of full

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months between the date of grant and the Date of Termination, and the
denominator of which shall be the number of full months in the period of
employment required for full vesting under the original terms of the award, and

                           (vi) Outplacement services, at the expense of the
Corporation, from a provider reasonably selected by the Executive.

In addition, the Executive may, in the discretion of the Compensation Committee,
be awarded a pro rata cash bonus for the year in which the Date of Termination
occurs.

                  (d) Qualifying Termination After a Change in Control. In the
event of a Qualifying Termination within three (3) years after a Change in
Control, the Executive shall receive, in addition to the compensation and
benefits described in subparagraphs (c)(i) and (c)(vi), above, the following
benefits:

                           (i) Payment in a lump sum within thirty (30) days
after the Date of Termination of a pro rata cash bonus for the year in which the
Date of Termination occurs equal to the product of (x) the Highest Annual Bonus
and (y) a fraction, the numerator of which is the number of days in the current
fiscal year through the Date of Termination and the denominator of which is 365;

                           (ii) Payment in a lump sum within thirty (30) days
after the Date of Termination of a salary replacement amount equal to three
hundred percent (300%) of the Executive's base salary as in effect prior to the
termination,

                           (iii) Payment in a lump sum within thirty (30) days
after the Date of Termination of a bonus replacement amount equal to three
hundred percent (300%) of the Highest Annual Bonus;

                           (iv) Continuation, for a period of three (3) years
after the Date of Termination, of the following welfare benefits and senior
executive perquisites on terms at least as favorable to the Executive as those
which would have been provided if the Executive's employment had continued for
that time pursuant to this Agreement: medical and dental benefits, life and
disability insurance, umbrella liability insurance coverage, executive physical
examinations, and automobile and financial counseling allowances, with the cost
of such benefits to be paid by the Corporation. To the extent the Corporation is
unable to provide comparable insurance for reasons other than cost, the
Corporation may provide a lesser level or no coverage and compensate the
Executive for the difference in coverage through a cash lump sum payment grossed
up for taxes. This payment will be tied to the cost of an individual insurance
policy if it were assumed to be available. The medical and dental benefits
provided hereunder shall not be considered a continuation of coverage under
COBRA, and continuation coverage under COBRA shall be made available to the
Executive at the end of such three (3) year period as if the Executive's
employment had terminated on the last day of such period. For purposes of
determining eligibility (but not the time of commencement of benefits) of the
Executive for retiree benefits pursuant to post-

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retirement welfare benefit plans, practices, programs and policies of the
Corporation, the Executive shall be considered to have remained employed for
three (3) years after the Date of Termination and, therefore, will be treated as
having three (3) additional years of age and service credit after the Date of
Termination and as having retired on the last day of such three (3) year period;

                           (v) For purposes of determining the Executive's
benefits under the Corporation's non-qualified excess and supplemental defined
benefit retirement plans (the "SERP") in which the Executive participates, the
Executive's benefits under the SERP shall equal the excess of (x) the actuarial
equivalent (utilizing actuarial assumptions determined on a basis no less
favorable to the Executive than the basis used under the terms of the Retirement
Plan as in effect immediately prior to the Change in Control) of the sum of (A)
the benefit under the Corporation's qualified defined benefit retirement plan
(the "Retirement Plan") and (B) the benefit under any excess or supplemental
retirement plans in which the Executive participates (collectively, the "SERP"),
based on the Executive's period of service through the Date of Termination and
assuming for this purpose that: (1) the Executive's employment continued for
three years after the Date of Termination, and, therefore, the Executive had
three (3) additional years of age and service credit after the Date of
Termination under the Retirement Plan and the SERP, (2) all accrued benefits
under the Retirement Plan and the SERP are fully vested and (3) the Executive's
salary and annual bonus for each year during such three (3) year period were the
salary replacement and bonus replacement amounts described in subparagraphs (ii)
and (iii) above, over (y) the actuarial equivalent of the Executive's actual
benefit (paid or payable), if any, under the Retirement Plan, as of the Date of
Termination; and

                  (vi) Payment in a lump sum within thirty (30) days after the
Date of Termination of an amount equal to the sum of the maximum matching
contributions by the Corporation under the Corporation's tax-qualified and
supplemental Section 401(k) plans in which the Executive participates that the
Executive would have received if the Executive's employment continued for three
(3) years after the Date of Termination, assuming for this purpose that: (x) the
Executive's salary and annual bonus for each year during such three (3) year
period were the salary replacement and bonus replacement amounts described in
subparagraphs (ii) and (iii) above and (y) the Company's matching contributions
are determined pursuant to the applicable provisions of the Corporation's
tax-qualified and supplemental Section 401(k) plans, as in effect immediately
prior to the Change in Control.

                  (e) Termination of Employment Prior to Change in Control.
Anything in this Agreement to the contrary notwithstanding, if a Change in
Control occurs and if the Executive's employment with the Corporation is
terminated within six (6) months prior to the date on which the Change in
Control occurs, and if it is reasonably demonstrated by the Executive that such
termination of employment (i) was at the request of a third party who was taking
steps reasonably calculated to effect a Change in Control or (ii) otherwise
arose in connection with or in anticipation of a Change in Control, then for all
purposes of this Agreement the termination of the Executive's employment shall
be deemed to have occurred immediately after the Change in Control.

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         10. Certain Additional Payments by the Corporation. The Corporation
agrees that:

                  (a) Anything in this Agreement to the contrary
notwithstanding, in the event it shall be determined that any payment or
distribution by the Corporation to or for the benefit of the Executive (whether
paid or payable or distributed or distributable pursuant to the terms of this
Agreement or otherwise, but determined without regard to any additional payments
required under this Paragraph 10) (a "Payment") would be subject to the excise
tax imposed by Section 4999 of the Internal Revenue Code of 1986, as amended,
(the "Code") or if any interest or penalties are incurred by the Executive with
respect to such excise tax (such excise tax, together with any such interest and
penalties, being hereinafter collectively referred to as the "Excise Tax"), then
the Executive shall be entitled to receive an additional payment (a "Gross-Up
Payment") in an amount such that, after payment by the Executive of all taxes
(including any interest or penalties imposed with respect to such taxes),
including, without limitation, any income taxes (and any interest and penalties
imposed with respect thereto) and Excise Tax imposed upon the Gross-Up Payment,
the Executive retains an amount of the Gross-Up Payment equal to the Excise Tax
imposed upon the Payment.

                  (b) Subject to the provisions of paragraph (c), below, all
determinations required to be made under this Paragraph 10, including whether
and when a Gross-Up Payment is required and the amount of such Gross-Up Payment
and the assumptions to be utilized in arriving at such determination, shall be
made by the accounting firm which is then serving as the auditors for the
Corporation (the "Accounting Firm"), which shall provide detailed supporting
calculations both to the Corporation and the Executive within fifteen (15)
business days of the receipt of notice from the Executive that there has been a
Payment, or such earlier time as is requested by the Corporation. In the event
that the Accounting Firm is serving as accountant or auditor for the individual,
entity or group effecting the Change in Control, the Executive shall appoint
another nationally recognized accounting firm to make the determinations
required hereunder (which accounting firm shall then be referred to as the
Accounting Firm hereunder). All fees and expenses of the Accounting Firm shall
be borne solely by the Corporation. Any Gross-Up Payment, as determined pursuant
to this Paragraph 10, shall be paid by the Corporation to the Executive within
five (5) days of the receipt of the Accounting Firm's determination. If the
Accounting Firm determines that no Excise Tax is payable by the Executive, it
shall furnish the Executive with a written opinion that failure to report the
Excise Tax on the Executive's applicable federal income tax return would not
result in the imposition of a negligence or similar penalty. Any good faith
determination by the Accounting Firm shall be binding upon the Corporation and
the Executive. As a result of the uncertainty in the application of Section 4999
of the Code at the time of the initial determination by the Accounting Firm
hereunder, it is possible that Gross-Up Payments which will not have been made
by the Corporation should have been made ("Underpayment"), consistent with the
calculations required to be made hereunder. In the event that the Corporation
exhausts its remedies pursuant to paragraph (c), below, and the Executive
thereafter is required to make a payment of any Excise Tax, the Accounting Firm
shall determine the amount of the Underpayment that has occurred and any such

                                       11
<PAGE>

Underpayment shall be promptly paid by the Corporation to or for the benefit of
the Executive.

                  (c) The Executive shall notify the Corporation in writing of
any claim by the Internal Revenue Service that, if successful, would require the
payment by the Corporation of a Gross-Up Payment. Such notification shall be
given as soon as practicable but no later than fifteen (15) business days after
the Executive is informed in writing of such claim and shall apprise the
Corporation of the nature of such claim and the date on which such claim is
requested to be paid. The Executive shall not pay such claim prior to the
expiration of the thirty (30)-day period following the date on which Executive
gives such notice to the Corporation (or such shorter period ending on the date
that any payment of taxes with respect to such claim is due). If the Corporation
notifies the Executive in writing prior to the expiration of such period that it
desires to contest such claim, the Executive shall:

                           (i) Give the Corporation any information reasonably
requested by the Corporation relating to such claim,

                           (ii) Take such action in connection with contesting
such claim as the Corporation shall reasonably request in writing from time to
time, including, without limitation, accepting legal representation with respect
to such claim by an attorney reasonably selected by the Corporation,

                           (iii) Cooperate with the Corporation in good faith in
order effectively to contest such claim, and

                           (iv) Permit the Corporation to participate in any
proceedings relating to such claim;

provided, however, that the Corporation shall bear and pay directly all costs
and expenses (including additional interest and penalties) incurred in
connection with such contest and shall indemnify and hold the Executive
harmless, on an after-tax basis, for any Excise Tax or income tax (including
interest and penalties with respect thereto) imposed as a result of such
representation and payment of costs and expenses. Without limiting the foregoing
provisions of this paragraph (c), the Corporation shall control all proceedings
taken in connection with such contest and, at its sole option, may pursue or
forego any and all administrative appeals, proceedings, hearings and conferences
with the taxing authority in respect of such claim and may, at its sole option,
either direct the Executive to pay the tax claimed and sue for a refund or
contest the claim in any permissible manner; and the Executive agrees to
prosecute such contest to a determination before any administrative tribunal, in
a court of initial jurisdiction and in one or more appellate courts, as the
Corporation shall determine; provided, however, that if the Corporation directs
the Executive to pay such claim and sue for a refund, the Corporation shall
advance the amount of such payment to the Executive on an interest-free basis
and shall indemnify and hold the Executive harmless, on an after-tax basis, from
any Excise Tax or income tax (including interest or penalties with respect
thereto) imposed with respect to such advance or with respect to any imputed
income with respect to such advance;

                                       12
<PAGE>

and further provided that any extension of the statute of limitations relating
to payment of taxes for the taxable year of the Executive with respect to which
such contested amount is claimed to be due is limited solely to such contested
amount. Furthermore, the Corporation's control of the contest shall be limited
to issues with respect to which a Gross-Up Payment would be payable hereunder
and the Executive shall be entitled to settle or contest, as the case may be,
any other issue raised by the Internal Revenue Service or any other taxing
authority.

                  (d) If, after the receipt by the Executive of an amount
advanced by the Corporation pursuant to paragraph (c), above, the Executive
becomes entitled to receive any refund with respect to such claim, the Executive
shall (subject to the Corporation's complying with the requirements of said
paragraph (c)) promptly pay to the Corporation the amount of such refund
(together with any interest paid or credited thereon, after taxes applicable
thereto). If, after the receipt by the Executive of an amount advanced by the
Corporation pursuant to said paragraph (c), a determination is made that the
Executive shall not be entitled to any refund with respect to such claim and the
Corporation does not notify the Executive in writing of its intent to contest
such denial of refund prior to the expiration of thirty (30) days after such
determination, then such advance shall be forgiven and shall not be required to
be repaid; and the amount of such advance shall offset, to the extent thereof,
the amount of the Gross-Up Payment required to be paid.

         11. No Set-Off or Mitigation. The Corporation's obligation to make the
payments provided for in this Agreement and otherwise to perform its obligations
hereunder shall not be affected by any set-off, counterclaim, recoupment,
defense or other claim, right or action which the Corporation may have against
the Executive or others. In no event shall the Executive be obligated to seek
other employment or take any other action by way of mitigation of the amounts
payable to the Executive under any of the provisions of this Agreement, and such
amounts shall not be reduced whether or not the Executive obtains other
employment.

         12. Payment of Certain Expenses. The Corporation agrees to pay promptly
as incurred, to the fullest extent permitted by law, all legal fees and expenses
which the Executive may reasonably incur as a result of any contest (regardless
of the outcome) by the Corporation, the Executive or others of the validity or
enforceability of, or liability under, any provision of this Agreement
(including as a result of any contest initiated by the Executive about the
amount of any payment due pursuant to this Agreement), plus in each case
interest on any delayed payment at the applicable federal rate provided for in
Section 7872(f)(2)(A) of the Code; provided, however, that, notwithstanding
anything contained herein to the contrary, with respect to contests arising
prior to a Change in Control (and not otherwise directly associated with the
Change in Control), the Corporation shall not be obligated to make such payment
with respect to any such contest in which the Corporation prevails over the
Executive.

         13. Indemnification. To the full extent permitted by law, the
Corporation shall, both during and after the term of the Executive's employment,
indemnify the Executive

                                       13
<PAGE>

(including the advancement of expenses) for any judgments, fines, amounts paid
in settlement and reasonable expenses, including attorneys' fees, incurred by
the Executive in connection with the defense of any lawsuit or other claim to
which he is made a party by reason of being (or having been) an officer,
director or employee of the Corporation or any of its subsidiaries. In addition,
the Executive shall be covered, both during and after the term of the
Executive's employment, by director and officer liability insurance to the
maximum extent that such insurance covers any officer or director (or former
officer or director) of the Corporation.

         14. Confidentiality. During and after the period of employment with the
Corporation, the Executive shall not, without prior written consent from the
Chief Executive Officer or the General Counsel of the Corporation directly or
indirectly disclose to any individual, corporation or other entity, other than
to the Corporation or any subsidiary or affiliate thereof or their officers,
directors or employees entitled to such information or any other person or
entity to whom such information is disclosed in the normal course of the
business of the Corporation) or use for the Executive's own benefit or for the
benefit of any such individual, corporation or other entity, any Confidential
Information of the Corporation. For purposes of this Agreement, "Confidential
Information" is information relating to the business of the Corporation or its
subsidiaries or affiliates (a) which is not generally known to the public or in
the industry, (b) which has been treated by the Corporation and its subsidiaries
and affiliates as confidential or proprietary, (c) which provides the
Corporation or its subsidiaries or affiliates with a competitive advantage, and
(d) in the confidentiality of which the Corporation has a legally protectable
interest. Confidential Information which becomes generally known to the public
or in the industry, or in the confidentiality of which the Corporation and its
subsidiaries and affiliates cease to have a legally protectable interest, shall
cease to be subject to the restrictions of this Paragraph 14.

         15. Binding Effect. This Agreement shall be binding upon and inure to
the benefit of the heirs and representatives of the Executive and the successors
and assigns of the Corporation. The Corporation shall require any successor
(whether direct or indirect, by purchase, merger, reorganization, consolidation,
acquisition of property or stock, liquidation, or otherwise) to all or a
substantial portion of its assets, by agreement in form and substance reasonably
satisfactory to the Executive, expressly to assume and agree to perform this
Agreement in the same manner and to the same extent that the Corporation would
be required to perform this Agreement if no such succession had taken place.
Regardless of whether such an agreement is executed, this Agreement shall be
binding upon any successor of the Corporation in accordance with the operation
of law, and such successor shall be deemed the "Corporation" for purposes of
this Agreement.

         16. Notices. All notices, requests, demands and other communications
hereunder shall be in writing and shall be deemed to have been duly given if
delivered by hand or by recognized commercial delivery service or if mailed
within the continental United States by first class certified mail, return
receipt requested, postage prepaid, addressed as follows:

                                       14
<PAGE>

                  (1)      If to the Board or the Corporation, to:

                           Household International, Inc.
                           2700 Sanders Road
                           Prospect Heights, Illinois  60070
                           Attention:  Executive Vice President-Administration

                  (2)      If to the Executive, to:

                           Household International, Inc.
                           2700 Sanders Road
                           Prospect Heights, IL  60070
                           Attention:  Kenneth M. Harvey

Such addresses may be changed by written notice sent to the other party at the
last recorded address of that party.

         17. Tax Withholding. The Corporation shall provide for the withholding
of any taxes required to be withheld by federal, state, or local law with
respect to any payment in cash, shares of stock and/or other property made by or
on behalf of the Corporation to or for the benefit of the Executive under this
Agreement or otherwise. The Corporation may, at its option: (a) withhold such
taxes from any cash payments owing from the Corporation to the Executive, (b)
require the Executive to pay to the Corporation in cash such amount as may be
required to satisfy such withholding obligations and/or (c) make other
satisfactory arrangements with the Executive to satisfy such withholding
obligations.

         18. Arbitration. Except as to any controversy or claim which the
Executive elects, by written notice to the Corporation, to have adjudicated by a
court of competent jurisdiction, any controversy or claim arising out of or
relating to this Agreement or the breach hereof shall be settled by arbitration
in Chicago, Illinois in accordance with the laws of the State of Illinois. The
arbitration shall be conducted in accordance with the rules of the American
Arbitration Association. The costs and expenses of the arbitrator(s) shall be
borne by the Corporation. The award of the arbitrator(s) shall be binding upon
the parties. Judgment upon the award rendered by the arbitrator(s) may be
entered in any court having jurisdiction.

         19. No Assignment. Except as otherwise expressly provided herein, this
Agreement is not assignable by any party and no payment to be made hereunder
shall be subject to anticipation, alienation, sale, transfer, assignment,
pledge, encumbrance or other charge.

         20. Execution in Counterparts. This Agreement may be executed by the
parties hereto in two (2) or more counterparts, each of which shall be deemed to
be an original, but all such counterparts shall constitute one and the same
instrument, and all signatures need not appear on any one counterpart.

                                       15
<PAGE>

         21. Jurisdiction and Governing Law. This Agreement shall be construed
and interpreted in accordance with and governed by the laws of the State of
Illinois, other than the conflict of laws provisions of such laws.

         22. Severability. If any provision of this Agreement shall be adjudged
by any court of competent jurisdiction to be invalid or unenforceable for any
reason, such judgment shall not affect, impair or invalidate the remainder of
this Agreement. Furthermore, if the scope of any restriction or requirement
contained in this Agreement is too broad to permit enforcement of such
restriction or requirement to its full extent, then such restriction or
requirement shall be enforced to the maximum extent permitted by law, and the
Executive consents and agrees that any court of competent jurisdiction may so
modify such scope in any proceeding brought to enforce such restriction or
requirement.

         23. Prior Understandings. This Agreement embodies the entire
understanding of the parties hereto and supersedes all other oral or written
agreements or understandings between them regarding the subject matter hereof,
including but not by way of limitation by amending and restating the Employment
Agreement dated April 1, 1999 between the parties. No change, alteration or
modification hereof may be made except in a writing, signed by each of the
parties hereto. The headings in this Agreement are for convenience of reference
only and shall not be construed as part of this Agreement or to limit or
otherwise affect the meaning hereof.

         IN WITNESS WHEREOF, the parties hereto have executed and delivered this
Agreement as of the day and year first above written.

Attest:                              HOUSEHOLD INTERNATIONAL, INC.

/s/ K. H. Robin                      By: /s/ W. F. Aldinger
-------------------------------         ----------------------------------------
Kenneth H. Robin                     Title: Chairman and Chief Executive Officer
Senior Vice President-General
Counsel and Corporate Secretary
                                        /s/ K. M. Harvey
                                     -------------------------------------------
                                     Kenneth M. Harvey

                                       16<PAGE>
                                                                EXHIBIT 10.15(b)

                              EMPLOYMENT AGREEMENT

            This Agreement, made and entered into as of November 14th, 2002 by
and between Household International, Inc. (the "Company") and Kenneth M. Harvey
(the "Executive" and, together with the Company, the "Parties").

                                WITNESSETH THAT:

                  WHEREAS, prior to the signing of the Merger Agreement (as
defined below), the Executive was employed by the Company pursuant to an
employment agreement dated March 1, 2002 (the "Prior Agreement");

                  WHEREAS, in connection with the acquisition (the
"Acquisition") by HSBC Holdings plc of the Company pursuant to the Agreement and
Plan of Merger by and among H2 Acquisition Corporation, the Company and HSBC
Holdings plc (the "Parent"), dated as of November 14, 2002 (the "Merger
Agreement"), the Parties agreed to deem the consummation of the Acquisition as a
Qualifying Termination after a Change in Control within the meaning of Section
9(d) under the Prior Agreement;

                  WHEREAS, the Parties have agreed that (A) the Company will pay
the Executive the amounts described under Sections 9(d)(i), 9(d)(ii), 9(d)(iii)
and 9(d)(vi) of the Prior Agreement, within thirty (30) days of the date of the
consummation of the Acquisition (the "Effective Date") and (B) the Company will
pay the amounts described under Section 10 of the Prior Agreement at the time
and in the manner described in Section 10 (as modified hereby), in full
satisfaction of the Parties' obligations under the Prior Agreement, which Prior
Agreement shall terminate effective as of the Effective Date (except as
described below);

                  WHEREAS, the Company desires to continue to employ the
Executive on the terms and conditions set forth in this Agreement;

                  NOW, THEREFORE, in exchange therefor and in consideration of
the premises and the mutual covenants and promises contained herein and for
other good and valuable consideration, the Company and the Executive hereby
agree as follows:

            1. Termination of Prior Agreement. The Parties hereby agree that the
Prior Agreement shall terminate effective as of the Effective Date, except for
Section 10 of the Prior Agreement, as described below. In full satisfaction of
the Parties' obligations under the Prior Agreement, the Company will pay the
Executive the amounts described in Sections 9(d)(i), 9(d)(ii), 9(d)(iii) and
9(d)(vi) of the Prior Agreement, within thirty (30) days after the Effective
Date and the amounts described under Section 10 of the Prior Agreement at the
time and in the manner described in such Section 10, except that (A) the
Gross-Up Payment (as defined in the Prior Agreement) shall be paid by the
Company to the Executive within five days of the later of (i) the due date for
the payment of any Excise Tax (as defined in the Prior Agreement) and (ii) the
receipt of the Accounting Firm's (as defined in the Prior Agreement)
determination and (B) the Executive shall promptly pay to the Company any refund
with respect to any Excise Tax or Gross-Up Payment due to a recalculation of any
amounts due, for whatever reason, it being understood that the Executive would
be kept in the same after-tax position (after payment of the
<PAGE>

Gross-Up Payment) that the Executive would have been in had no Excise Tax been
imposed. In addition, the Executive shall receive three (3) additional years of
age and service credit, as of the Effective Date, for purposes of determining
the Executive's benefits under the Company's non-qualified excess and
supplemental defined benefit retirement plans (the "SERP") under Section 9(d)(v)
of the Prior Agreement, based on the assumptions set forth in Section 9(d)(v) of
the Prior Agreement, provided that the Executive shall not receive a duplicate
benefit with respect to any additional age or service credit under the
Retirement Plan (as defined in the Prior Agreement) and SERP for the first three
years following the Effective Date. Except as described above, the Executive
acknowledges that he will not be entitled to any other benefits described in
Section 9(d) under the Prior Agreement. For the avoidance of doubt, and
notwithstanding anything herein to the contrary, no amounts payable pursuant to
this Section 1 or Section 10 of the Prior Agreement shall be taken into account
in computing any benefits under any plan, program or arrangement of the Company.

            2. Employment and Term.

                  (a) Employment and Duties. The Company shall continue to
employ the Executive as a Group Executive and the Chief Information Officer of
the Company, and the Executive shall so serve, for the term set forth in
Paragraph 2(b). During the Term, the Executive shall have all powers and duties
consistent with such position, subject to the reasonable direction of the Board
of Directors of the Company (the "Board") and of the Chief Executive Officer of
the Company. The Executive shall also continue to serve as a member of the Board
if elected as such. The Executive shall devote his full time to the services
required hereunder (reasonable sick leave and vacations excepted) and best
efforts to fulfill faithfully, responsibly and to the best of his ability his
duties hereunder. However, the Executive may, with the approval of the Board or
of the Chief Executive Officer of the Company, which approval shall not be
withheld unreasonably, serve on civic and/or charitable boards and committees.

                  (b) Term. The term of the Executive's employment under this
Agreement shall commence as of the Effective Date and end on the third
anniversary of the Effective Date (the "Term").

            3. Salary.

                  (a) Base Salary. For services performed by the Executive for
the Company pursuant to this Agreement during the Term, the Company shall pay
the Executive a base salary no less favorable than the annual base salary paid
to the Executive as of immediately prior to the date hereof, payable in
substantially equal installments in accordance with the Company's regular
payroll practices. The Executive's base salary (with any increases under
Paragraph (b) below) (the "Base Salary") shall not be subject to reduction. Any
compensation which may be paid to the Executive under any additional
compensation or incentive plan of the Company or which may be otherwise
authorized from time to time by the Board (or an appropriate committee thereof)
shall be in addition to the Base Salary to which the Executive shall be entitled
under this Agreement.

                  (b) Salary Increases. During the Term, the Base Salary of the
Executive shall be reviewed no less frequently than annually by the Board (or an
appropriate committee thereof)

<PAGE>

to determine whether or not the same should be increased in light of the duties
and responsibilities of the Executive and his performance thereof, and if it is
determined that an increase is merited, such increase shall be promptly put into
effect and the Base Salary of the Executive as so increased shall constitute the
Base Salary of the Executive for purposes of Paragraph 3(a).

            4. Annual Bonuses. During the Term, the Executive shall receive an
annual cash bonus in an amount at least equal to 75% of the average of the
Executive's annual cash bonuses earned with respect to years 1999, 2000 and 2001
(the "Guaranteed Bonus") pursuant to the terms of the Company's bonus plan, as
in effect from time to time for senior executives and as adopted by the Board,
pro rated in the case of any partial year during the Term.

            5. Equity Incentive Compensation. During the Term, the Executive
shall be eligible to participate, in the manner and to the extent approved by
the Board of Directors of Parent (or an appropriate committee thereof), in any
equity-based incentive compensation plan or program of Parent, as in effect from
time to time for similarly situated senior executives of the Company.

            6. Restricted Shares; Cash Bonus. Within 30 days of the Effective
Date, subject to the approval of the trustees (the "Trustees") of Parent's
Restricted Share Plan (the "Plan"), the Executive will receive a one-time
special retention grant of restricted shares of Parent (the "Restricted Shares")
pursuant to the Plan, with a value equal to $5,000,000 (the "Restricted Share
Value"), based on the closing price (the "Fair Market Value"), on the date of
grant of such Restricted Shares, of ordinary shares of Parent on the principal
stock exchange on which such shares are traded. The number of Restricted Shares
granted shall be determined by dividing the Restricted Share Value by the Fair
Market Value. The Restricted Shares will vest with respect to 1/5 of the shares
on each of the first five (5) anniversaries of the Effective Date, provided the
Executive is still employed on each applicable vesting date. In addition, upon a
termination of the Executive's employment by the Company other than for Cause
(as defined in Paragraph 9) or upon a resignation of the Executive that results
from a material breach of this Agreement by the Company, the Restricted Shares
shall vest in full. All other terms and conditions of the Restricted Shares will
be governed by the Plan. To the extent the grant of Restricted Shares is not
approved by the Trustees or would violate rules and regulations under the Plan
or applicable law (the "Excess Amount"), the Executive will receive a one-time
special cash bonus (the "Cash Bonus") equal to the Excess Amount. The Cash
Bonus, if any, will be paid to the Executive in five (5) equal installments on
each of the first five (5) anniversaries of the Effective Date, provided the
Executive is still employed by the Company on each applicable anniversary. In
addition, upon a termination of the Executive's employment by the Company other
than for Cause (as defined in Paragraph 9) or upon a resignation of the
Executive that results from a material breach of this Agreement by the Company,
the Cash Bonus shall be paid in full.

            7. Company Options. With respect to the stock options, if any, to
purchase shares of the Company granted to the Executive on and after November
10, 2002 (the "Options") under the Company's 1996 Long-Term Executive Incentive
Compensation Plan (the "Option Plan"), the Executive agrees that,
notwithstanding any provisions in the Option Plan or the applicable stock option
grant agreement, such Options shall not become exercisable as a result of a
Change in Control (as defined in the Option Plan); provided, however, that in
the event that the

<PAGE>

Executive terminates his employment for Good Reason (as defined below) or in the
event that the Company terminates the Executive's employment without Cause, all
Options shall vest and become immediately exercisable and shall remain
exercisable for the full ten-year and one-day term.

"Good Reason" shall mean, without the consent of the Executive, (i) any action
by the Company which results in a substantial diminution of the Executive's
position, authority, duties or responsibilities to a level demonstrably below
those of similarly compensated employees, it being understood that the fact that
the Executive's duties may be reduced solely by reason of the Company ceasing to
be a publicly-traded company shall not constitute Good Reason, (ii) any failure
by the Company to comply with the terms of this Agreement with respect to the
Executive's cash compensation, (iii) a substantial reduction in the Executive's
benefits under any compensation or benefit plan or program of the Company,
except that the Executive's benefits may be reduced in connection with similar
reductions uniformly applied with respect to all similarly situated executives
or (iv) the relocation of the Executive to an office outside of the Chicago,
Illinois metropolitan area; provided, however, that "Good Reason" shall not
include any isolated, insubstantial and inadvertent action not taken in bad
faith and which is remedied by the Company promptly after receipt of notice
thereof given by the Executive.

With respect to all outstanding Options granted to the Executive prior to the
Effective Date, the Executive acknowledges that such Options shall be converted
into options to purchase shares of the Parent in accordance with the provisions
set forth in the Merger Agreement.

            8. Other Benefits. During the Term, in addition to the compensation
described in Paragraphs 4, 5 and 6, above, the Executive shall also be entitled
to participate in all of the various retirement, welfare, fringe benefit,
executive perquisite, and expense reimbursement plans, programs and arrangements
of the Company, as in effect from time to time for similarly situated senior
executives of the Company, to the extent the Executive is eligible for
participation under the terms of such plans, programs and arrangements.

            9. Termination of Employment. The Company may terminate the
Executive for any reason during the Term with thirty (30) days prior written
notice thereof to the Executive. If during the Term, (i) the Executive's
employment is terminated by the Company other than for Cause or disability, or
(ii) the Executive terminates his employment for Good Reason (as defined above),
subject to the Executive's execution of a general release and waiver in favor of
the Company, its affiliates and their respective officers and directors, the
Executive will be entitled (x) to continue to receive his Base Salary and the
Guaranteed Bonus at the time and in the manner the Executive would have received
such payments had he remained employed for the remainder of the Term (the
"Severance") and (y) to the extent permitted under the terms of the applicable
plans, to the continuation of medical, dental, life, disability and umbrella
liability insurance and automobile and financial counseling allowances (at the
Company's cost), from the date of termination until the earlier of (A) such time
the Executive becomes eligible to participate in similar plans of another
employer and (B) the last day of the Term. For purposes of this Agreement,
"Cause" shall be defined as in Section 7(d)(ii) of the Prior Agreement.

            10. Noncompetition and Confidentiality.

<PAGE>

                  (a) Noncompetition. During the Term and during the one year
period (the "Restriction Period") following any resignation by the Executive of
his employment other than a resignation that results from a material breach of
this Agreement by the Company, the Executive shall not become associated with
any entity, whether as a principal, partner, employee, consultant or shareholder
(other than as a holder of 1% or less of the outstanding voting shares of any
publicly traded company) that is actively engaged in any consumer lending
business (including mortgage and credit card lending) (a "Competitive Entity").
An entity will not be considered a Competitive Entity if that entity and its
affiliates (or their predecessors) originated consumer loans in the most
recently completed calendar year in an amount less than $10 billion. This
noncompetition provision shall not apply to any person whose principal work
location with the Company is in California with respect to any activities such
person would undertake in California that would otherwise be in violation of
this noncompetition provision.

                  (b) Nonsolicitation. During the Restriction Period, (a) the
Executive will not directly or indirectly induce any employee of the Company or
its affiliates to terminate employment with any such entity, and shall not,
directly or indirectly, either individually or as owner, agent, employee,
consultant or otherwise, hire, employ or offer employment or assist in hiring,
employing or offering employment, to any person who is or was employed by the
Company or an affiliate unless such person shall have ceased to be employed by
such entity for a period of at least 6 months and (b) the Executive shall not
solicit the business of, or otherwise attempt to establish any business
relationship of a nature that is competitive with the business or relationship
of the Company or its subsidiaries with, any person or entity who was a
significant commercial customer or client of the Company or its subsidiaries,
within 6 months immediately prior to the date of the Executive's termination of
employment, including, without limitation, Saks, GM and their affiliates.

                  (c) Confidentiality. During and after the period of employment
with the Company, the Executive shall not, without prior written consent from
the Chief Executive Officer or the General Counsel of the Company, directly or
indirectly disclose to any individual, company or other entity, other than to
the Company or any subsidiary or affiliate thereof or their officers, directors
or employees entitled to such information or any other person or entity to whom
such information is disclosed in the normal course of the business of the
Company) or use for the Executive's own benefit or for the benefit of any such
individual, company or other entity, any Confidential Information of the
Company. For purposes of this Agreement, "Confidential Information" is
information relating to the business of the Company or its subsidiaries or
affiliates (a) which is not generally known to the public or in the industry,
(b) which has been treated by the Company and its subsidiaries and affiliates as
confidential or proprietary, (c) which provides the Company or its subsidiaries
or affiliates with a competitive advantage, and (d) in the confidentiality of
which the Company has a legally protectable interest. Confidential Information
which becomes generally known to the public or in the industry, or in the
confidentiality of which the Company and its subsidiaries and affiliates cease
to have a legally protectable interest, shall cease to be subject to the
restrictions of this Paragraph 10(c).

                  (d) Company Property. Promptly following the Executive's
termination of employment, the Executive shall return to the Company all
property of the Company and all copies thereof in the Executive's possession or
under his control.

<PAGE>

                  (e) Injunctive Relief with Respect to Covenants. The Executive
acknowledges and agrees that the covenants and obligations of the Executive with
respect to noncompetition, nonsolicitation and confidentiality and Company
property relate to special, unique and extraordinary matters and that a
violation of any of the terms of such covenants and obligations will cause the
Company irreparable injury for which adequate remedies are not available at law.
Therefore, the Executive agrees that the Company shall be entitled to an
injunction, restraining order or such other equitable relief (without the
requirement to post bond) restraining the Executive from committing any
violation of the covenants and obligations contained in this Paragraph 10. These
injunctive remedies are cumulative and are in addition to any other rights and
remedies the Company may have at law or in equity.

            11. Duty to Mitigate. Subject to the Executive's obligations under
Paragraph 10 of this Agreement, upon a termination of the Executive's employment
by the Company other than for Cause, the Executive shall be required to
mitigate, on a tax-adjusted basis (including any deductions for repayment to the
Company), the amount of the Severance due hereunder as a result of such
termination by seeking employment comparable in terms of compensation, position
and location to the Executive's employment hereunder.

            12. Status Under FDIC Regulations. The payments under this
Agreement, including without limitation pursuant to Paragraph 1 hereof, shall be
reduced to the extent required by the applicable Federal Deposit Insurance
Corporation ("FDIC") regulations.

            13. Binding Effect. This Agreement shall be binding upon and inure
to the benefit of the heirs and representatives of the Executive and the
successors and assigns of the Company. The Company shall require any successor
(whether direct or indirect, by purchase, merger, reorganization, consolidation,
acquisition of property or stock, liquidation, or otherwise) to all or a
substantial portion of its assets, by agreement in form and substance reasonably
satisfactory to the Executive, expressly to assume and agree to perform this
Agreement in the same manner and to the same extent that the Company would be
required to perform this Agreement if no such succession had taken place.
Regardless of whether such an agreement is executed, this Agreement shall be
binding upon any successor of the Company in accordance with the operation of
law, and such successor shall be deemed the "Company" for purposes of this
Agreement.

            14. Notices. All notices, requests, demands and other communications
hereunder shall be in writing and shall be deemed to have been duly given if
delivered by hand or by recognized commercial delivery service or if mailed
within the continental United States by first class certified mail, return
receipt requested, postage prepaid, addressed as follows:

      (1) If to the Board or the Company, to:

          Household International, Inc.
          2700 Sanders Road
          Prospect Heights, Illinois 60070

          Attention: William F. Aldinger
<PAGE>

      (2) If to the Executive, to the most recent address for the Executive on
the files of the Company.

Such addresses may be changed by written notice sent to the other party at the
last recorded address of that party.

            15. Tax Withholding. The Company shall provide for the withholding
of any taxes required to be withheld by federal, state, or local law with
respect to any payment in cash, shares of stock and/or other property made by or
on behalf of the Company to or for the benefit of the Executive under this
Agreement or otherwise. The Company may, at its option: (a) withhold such taxes
from any cash payments owing from the Company to the Executive, (b) require the
Executive to pay to the Company in cash such amount as may be required to
satisfy such withholding obligations and/or (c) make other satisfactory
arrangements with the Executive to satisfy such withholding obligations.

            16. No Assignment. Except as otherwise expressly provided herein,
this Agreement is not assignable by any Party and no payment to be made
hereunder shall be subject to anticipation, alienation, sale, transfer,
assignment, pledge, encumbrance or other charge.

            17. Execution in Counterparts. This Agreement may be executed by the
Parties hereto in two (2) or more counterparts, each of which shall be deemed to
be an original, but all such counterparts shall constitute one and the same
instrument, and all signatures need not appear on any one counterpart.

            18. Jurisdiction and Governing Law. This Agreement shall be
construed and interpreted in accordance with and governed by the laws of the
State of Illinois, without regard to the conflict of laws provisions of such
laws.

            19. Severability. If any provision of this Agreement shall be
adjudged by any court of competent jurisdiction to be invalid or unenforceable
for any reason, such judgment shall not affect, impair or invalidate the
remainder of this Agreement. Furthermore, if the scope of any restriction or
requirement contained in this Agreement is too broad to permit enforcement of
such restriction or requirement to its full extent, then such restriction or
requirement shall be enforced to the maximum extent permitted by law, and the
Executive consents and agrees that any court of competent jurisdiction may so
modify such scope in any proceeding brought to enforce such restriction or
requirement.

            20. Prior Understandings. This Agreement embodies the entire
understanding of the parties hereto and supersedes all other oral or written
agreements or understandings between them regarding the subject matter hereof,
including the Prior Agreement. No change, alteration or modification hereof may
be made except in a writing, signed by each of the Parties hereto. The headings
in this Agreement are for convenience of reference only and shall not be
construed as part of this Agreement or to limit or otherwise affect the meaning
hereof.

            21. Effectiveness. This Agreement shall become effective if and only
if the Effective Time (as defined in the Merger Agreement) occurs.
<PAGE>

      IN WITNESS WHEREOF, the Parties hereto have executed and delivered this
Agreement as of the day and year first above written.

                                         HOUSEHOLD INTERNATIONAL, INC.

                                         By: /s/ W. F. Aldinger
                                             --------------------------------
                                         Title:

                                             /s/ K. M. Harvey
                                             --------------------------------
                                         Name:   Kenneth M. Harvey

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