Document:

EXECUTION COPY

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                     CHASE MANHATTAN AUTO OWNER TRUST 2002-A

                      Class A-1 1.9425% Asset Backed Notes

                       Class A-2 2.63% Asset Backed Notes

                       Class A-3 3.49% Asset Backed Notes

                       Class A-4 4.24% Asset Backed Notes

                               -------------------

                            ADMINISTRATION AGREEMENT

                            Dated as of March 1, 2002

                               -------------------

                              JPMorgan Chase Bank,

                                As Administrator

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                                TABLE OF CONTENTS

                                                                            PAGE

Section 1.  Duties of Administrator .........................................  2
Section 2.  Records .........................................................  7
Section 3.  Compensation ....................................................  7
Section 4.  Additional Information To Be Furnished to Issuer ................  7
Section 5.  Independence of Administrator ...................................  7
Section 6.  No Joint Venture ................................................  7
Section 7.  Other Activities of Administrator ...............................  8
Section 8.  Term of Agreement; Resignation and Removal of Administrator .....  8
Section 9.  Action upon Termination, Resignation or Removal .................  9
Section 10. Notices ......................................................... 10
Section 11. Amendments ...................................................... 11
Section 12. Successors and Assigns .......................................... 11
Section 13. GOVERNING LAW ................................................... 12
Section 14. Headings ........................................................ 12
Section 15. Counterparts .................................................... 12
Section 16. Severability .................................................... 12
Section 17. Not Applicable to JPMorgan Chase Bank in Other Capacities ....... 12
Section 18. Limitation of Liability of Owner Trustee, Indenture Trustee
              and Administrator ............................................. 12
Section 19. Third-Party Beneficiary ......................................... 13
Section 20. Nonpetition Covenants ........................................... 13
Section 21. Liability of Administrator ...................................... 13

EXHIBIT A   -  Form of Power of Attorney

                                       i
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                  ADMINISTRATION AGREEMENT dated as of March 1, 2002, among
CHASE MANHATTAN AUTO OWNER TRUST 2002-A, a Delaware business trust (the
"ISSUER"), JPMORGAN CHASE BANK, a New York banking corporation, as administrator
(the "ADMINISTRATOR"), and WELLS FARGO BANK MINNESOTA, NATIONAL ASSOCIATION, a
national banking association, not in its individual capacity but solely as
Indenture Trustee (the "INDENTURE TRUSTEE").

                              W I T N E S S E T H :
                               - - - - - - - - - -

                  WHEREAS the Issuer is issuing the Class A-1 1.9425% Asset
Backed Notes (the "CLASS A-1 NOTES"), the Class A-2 2.63% Asset Backed Notes
(the "CLASS A-2 NOTES"), the Class A-3 3.49% Asset Backed Notes (the "CLASS A-3
NOTES") and the Class A-4 4.24% Asset Backed Notes (the "CLASS A-4 NOTES") and,
together with the Class A-1 Notes, the Class A-2 Notes and the Class A-3 Notes,
the "NOTES") pursuant to the Indenture dated as of March 1, 2002 (as amended,
modified or supplemented from time to time in accordance with the provisions
thereof, the "INDENTURE"), between the Issuer and the Indenture Trustee and the
4.17% Asset Backed Certificates (the "CERTIFICATES") pursuant to the Amended and
Restated Trust Agreement dated as of March 1, 2002 (as amended, modified or
supplemented from time to time in accordance with the provisions thereof, the
"TRUST AGREEMENT") between Chase USA (defined below), as Depositor, and
Wilmington Trust Company, as owner trustee (the "OWNER TRUSTEE").

                  WHEREAS the Issuer has entered into certain agreements in
connection with the issuance of the Notes and the Certificates, including (i) a
Sale and Servicing Agreement dated as of March 1, 2002 (the "SALE AND SERVICING
AGREEMENT") (capitalized terms used herein and not defined herein shall have the
meanings assigned such terms in the Sale and Servicing Agreement) between the
Issuer and Chase Manhattan Bank USA, National Association ("CHASE USA"), as
Servicer and Seller, (ii) a Depository Agreement dated March 6, 2002 (the "NOTE
DEPOSITORY AGREEMENT") among the Issuer, the Indenture Trustee, JPMorgan Chase
Bank, as Agent (the "AGENT") and The Depository Trust Company, (iii) a
Depository Agreement dated March 6, 2002 among the Issuer, the Owner Trustee,
the Agent and The Depository Trust Company (the "CERTIFICATE DEPOSITORY
AGREEMENT," and together with the Note Depository Agreement, the "DEPOSITORY
AGREEMENTS"), (iv) a Collection Account Control Agreement dated as of March 1,
2002 (the "COLLECTION ACCOUNT CONTROL AGREEMENT") among the Issuer, the
Indenture Trustee and JPMorgan Chase Bank, as securities intermediary, (v) a
Reserve Account Control Agreement dated as of March 1, 2002 among the Issuer,
the Indenture Trustee and Wells Fargo Bank Minnesota, National Association, as
securities intermediary (the "RESERVE ACCOUNT CONTROL ACCOUNT AGREEMENT," and
together with the Collection Account Control Agreement, the "SECURITIES CONTROL
AGREEMENTS"), (vi) the Trust Agreement, and (vii) the Indenture (the Sale and
Servicing Agreement, the Trust Agreement, the Depository Agreements, the
Securities Control Agreements and the Indenture being hereinafter referred to
collectively as the "RELATED AGREEMENTS");

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                                                                               2

                  WHEREAS pursuant to the Related Agreements, the Issuer and the
Owner Trustee are required to perform certain duties in connection with (a) the
Notes and the collateral pledged therefor pursuant to the Indenture (the
"COLLATERAL") and (b) the Certificates;

                  WHEREAS the Issuer desires to have the Administrator perform
certain of the duties of the Issuer and the Owner Trustee referred to in the
preceding clause, and to provide such additional services consistent with the
terms of this Agreement and the Related Agreements as the Issuer may from time
to time request;

                  WHEREAS the Administrator has the capacity to provide the
services required hereby and is willing to perform such services for the Issuer
and the Owner Trustee on the terms set forth herein;

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

                  SECTION 1. DUTIES OF ADMINISTRATOR. (a) DUTIES WITH RESPECT TO
THE RELATED AGREEMENTS. (i) The Administrator agrees to perform all its duties
as Administrator and the duties of the Issuer and the Owner Trustee under the
Depository Agreements. The Administrator agrees to perform the duty of the
Issuer under Section 5.1(a) of the Sale and Servicing Agreement to move the
Collection Account to a Qualified Institution or Qualified Trust Institution, as
the case may be, and the duty of the Issuer under Section 5.6(b) of the Sale and
Servicing Agreement to move the Reserve Account to a Qualified Institution or
Qualified Trust Institution, as the case may be. In addition, the Administrator
shall consult with the Owner Trustee regarding the duties of the Issuer and the
Owner Trustee under the Related Agreements.

                  The Administrator shall monitor the performance of the Issuer
and shall advise the Owner Trustee when action is necessary to comply with the
Issuer's or the Owner Trustee's duties under the Indenture and the Depository
Agreements. The Administrator shall prepare for execution by the Issuer or the
Owner Trustee or shall cause the preparation by other appropriate persons of all
such documents, reports, filings, instruments, certificates and opinions as it
shall be the duty of the Issuer or the Owner Trustee to prepare, file or deliver
pursuant to the Indenture and the Depository Agreements. In furtherance of the
foregoing, the Administrator shall take all appropriate action that it is the
duty of the Issuer or the Owner Trustee to take pursuant to the Indenture
including, without limitation, such of the foregoing as are required with
respect to the following matters under the Indenture (references are to sections
of the Indenture):

                  (A) the preparation of or obtaining of the documents and
         instruments required for authentication of the Notes, if any, and
         delivery of the same to the Indenture Trustee (Section 2.2);

                  (B) the duty to cause the Note Register to be kept and to give
         the Indenture Trustee notice of any appointment of a new Note Registrar
         and the location, or change in location, of the Note Register and the
         office or offices where Notes may be surrendered for registration of
         transfer or exchange (Section 2.4);

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                                                                               3

                  (C) the notification of Noteholders of the final principal
         payment on their Notes (Section 2.7(b));

                  (D) the preparation, obtaining or filing of the instruments,
         opinions and certificates and other documents required for the release
         of collateral (Section 2.9);

                  (E) the preparation of Definitive Notes and arranging the
         delivery thereof (Section 2.12);

                  (F) the maintenance of an office or agency in the City of New
         York for registration of transfer or exchange of Notes (Section 3.2);

                  (G) the duty to cause newly appointed Paying Agents, if any,
         to deliver to the Indenture Trustee the instrument specified in the
         Indenture regarding funds held in trust (Section 3.3);

                  (H) the direction to Paying Agents to pay to the Indenture
         Trustee all sums held in trust by such Paying Agents (Section 3.3);

                  (I) the obtaining and preservation of the Issuer's
         qualification to do business in each jurisdiction in which such
         qualification is or shall be necessary to protect the validity and
         enforceability of the Indenture, the Notes, the Collateral and each
         other instrument and agreement included in the Trust Estate (Section
         3.4);

                  (J) the preparation and filing of all supplements, amendments,
         financing statements, continuation statements, if any, instruments of
         further assurance and other instruments, in accordance with Section 3.5
         of the Indenture, necessary to protect the Trust Estate (Section 3.5);

                  (K) the obtaining of the Opinion of Counsel on the Closing
         Date and the annual delivery of Opinions of Counsel, in accordance with
         Section 3.6 of the Indenture, as to the Trust Estate, and the annual
         delivery of the Officers' Certificate and certain other statements, in
         accordance with Section 3.9 of the Indenture, as to compliance with the
         Indenture (Sections 3.6 and 3.9);

                  (L) the identification to the Indenture Trustee in an
         Officers' Certificate of a Person with whom the Issuer has contracted
         to perform its duties under the Indenture (Section 3.7(b));

                  (M) the notification of the Indenture Trustee and the Rating
         Agencies of an Event of Servicing Termination pursuant to the Sale and
         Servicing Agreement and, if such Event of Servicing Termination arises
         from the failure of the Servicer to perform any of its duties under the
         Sale and Servicing Agreement, the taking of all reasonable steps
         available to remedy such failure (Section 3.7(d));

                  (N) the preparation and obtaining of documents and instruments
         required for the release of the Issuer from its obligation under the
         Indenture (Section 3.11(b));

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                                                                               4

                  (O) the delivery of notice to the Indenture Trustee of each
         Event of Default, Event of Servicing Termination and each default by
         the Seller under the Sale and Servicing Agreement (Section 3.18);

                  (P) the taking of such further acts as may be reasonably
         necessary or proper to carry out more effectively the purpose of the
         Indenture or to compel or secure the performance and observance by the
         Seller and the Servicer of their obligations under the Sale and
         Servicing Agreement (Sections 3.19 and 5.16);

                  (Q) the monitoring of the Issuer's obligations as to the
         satisfaction and discharge of the Indenture and the preparation of an
         Officers' Certificate and the obtaining of the Opinion of Counsel and
         the Independent Certificate relating thereto (Section 4.1);

                  (R) the compliance with any written directive of the Indenture
         Trustee with respect to the sale of the Trust Estate in any manner
         permitted by law if an Event of Default shall have occurred and be
         continuing (Section 5.4);

                  (S) provide the Indenture Trustee with the information
         necessary to deliver to each Noteholder such information as may be
         reasonably required to enable such Holder to prepare its United States
         federal and state and local income or franchise tax returns (Section
         6.6);

                  (T) the preparation and delivery of notice to Noteholders of
         the removal of the Indenture Trustee and the appointment of a successor
         Indenture Trustee (Section 6.8);

                  (U) the preparation of any written instruments required to
         confirm more fully the authority of any co-trustee or separate trustee
         and any written instruments necessary in connection with the
         resignation or removal of the Indenture Trustee or any co-trustee or
         separate trustee (Sections 6.8 and 6.10);

                  (V) the furnishing of the Indenture Trustee with the names and
         addresses of Noteholders during any period when the Indenture Trustee
         is not the Note Registrar (Section 7.1);

                  (W) the preparation and, after execution by the Issuer, the
         filing with the Commission and any applicable state agencies and the
         Indenture Trustee of documents required to be filed on a periodic basis
         with, and summaries thereof as may be required by rules and regulations
         prescribed by, the Commission and any applicable state agencies and the
         transmission of such summaries, as necessary, to the Noteholders
         (Section 7.3);

                  (X) the obtaining of an Officers' Certificate, Opinion of
         Counsel and Independent Certificates, if necessary, for the release of
         the Trust Estate as defined in the Indenture (Sections 8.4 and 8.5);

                  (Y) the preparation of Issuer Orders and Issuer Requests and
         the obtaining of Opinions of Counsel with respect to the execution of
         supplemental indentures and the

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         mailing to the Noteholders of notices with respect to such supplemental
         indentures (Sections 9.1 and 9.2);

                  (Z) the execution of new Notes conforming to any supplemental
         indenture (Section 9.5);

                  (AA) provide the Indenture Trustee with the form of notice
         necessary to deliver the notification of Noteholders of the prepayment
         of the Notes (Section 10.2);

                  (BB) the preparation of all Officers' Certificates, Opinions
         of Counsel and Independent Certificates with respect to any requests by
         the Issuer to the Indenture Trustee to take any action under the
         Indenture (Section 11.1(a));

                  (CC) the preparation and delivery of Officers' Certificates
         and the obtaining of Independent Certificates, if necessary, for the
         release of property from the lien of the Indenture (Section 11.1(b));

                  (DD) the preparation and delivery to the Noteholders and the
         Indenture Trustee of any agreements with respect to alternate payment
         and notice provisions (Section 11.6); and

                  (EE) the recording of the Indenture, if applicable (Section
         11.15).

                  (b) ADDITIONAL DUTIES. In addition to the duties of the
Administrator set forth above, the Administrator shall perform such calculations
and shall prepare for execution by the Issuer or the Owner Trustee or shall
cause the preparation by other appropriate persons of all such documents,
reports, filings, instruments, certificates and opinions as it shall be the duty
of the Issuer or the Owner Trustee to prepare, file or deliver pursuant to the
Related Agreements, and at the request of the Owner Trustee shall take all
appropriate action that it is the duty of the Issuer or the Owner Trustee to
take pursuant to the Related Agreements. Subject to SECTION 5 of this Agreement,
and in accordance with the directions of the Owner Trustee, the Administrator
shall administer, perform or supervise the performance of such other activities
in connection with the Trust Estate (including the Related Agreements) as are
not covered by any of the foregoing provisions and as are expressly requested by
the Owner Trustee and are reasonably within the capability of the Administrator.

                  (i)      Notwithstanding anything in this Agreement or the
Related Agreements to the contrary, the Administrator shall be responsible for
promptly notifying the Owner Trustee in the event that any withholding tax is
imposed on the Issuer's payments (or allocations of income) to a
"CERTIFICATEHOLDER" as contemplated in Section 5.2(c) of the Trust Agreement.
Any such notice shall specify the amount of any withholding tax required to be
withheld by the Owner Trustee pursuant to such provision.

                  (ii)     Notwithstanding anything in this Agreement or the
Related Agreements to the contrary, the Administrator shall be responsible for
performance of the duties of the Owner Trustee and the Issuer set forth in
Sections 2.11, 2.12, 2.13 and 5.5(a), (b) and (c) and 5.7 of the

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Trust Agreement with respect to, among other things, accounting and reports to
Certificateholders and the maintenance of Capital Accounts; PROVIDED, HOWEVER,
that the Owner Trustee shall retain responsibility for the distribution of the
Schedule K-1s necessary to enable each Certificateholder to prepare its federal
and state income tax returns.

                  (iii)    The Administrator may satisfy its obligations with
respect to clauses (ii) and (iii) above by retaining, at the expense of the
Administrator, a firm of independent public accountants (the "ACCOUNTANTS")
acceptable to the Owner Trustee which shall perform the obligations of the
Administrator thereunder. In connection with paragraph (ii) above, the
Accountants will provide prior to April 15, 2002 a letter in form and substance
satisfactory to the Owner Trustee as to whether any tax withholding is then
required and, if required, the procedures to be followed with respect thereto to
comply with the requirements of the Code. The Accountants shall be required to
update the letter in each instance that any additional tax withholding is
subsequently required or any previously required tax withholding shall no longer
be required.

                  (iv)     The Administrator shall perform the duties of the
Administrator specified in Sections 10.2 and 10.3 of the Trust Agreement
required to be performed in connection with the resignation or removal of the
Owner Trustee, the duties of the Administrator specified in Section 10.5 of the
Trust Agreement required to be performed in connection with the appointment and
payment of co-Trustees, and any other duties expressly required to be performed
by the Administrator under the Trust Agreement.

                  (v)      In carrying out the foregoing duties or any of its
other obligations under this Agreement, the Administrator may enter into
transactions with or otherwise deal with any of its Affiliates; PROVIDED,
HOWEVER, that the terms of any such transactions or dealings shall be in
accordance with any directions received from the Issuer and shall be, in the
Administrator's opinion, no less favorable to the Issuer than would be available
from unaffiliated parties.

                  (vi)     It is the intention of the parties hereto that the
Administrator shall, and the Administrator hereby agrees to, execute on behalf
of the Issuer or the Owner Trustee all such documents, reports, filings,
instruments, certificates and opinions as it shall be the duty of the Issuer or
the Owner Trustee to prepare, file or deliver pursuant to the Basic Documents.
In furtherance thereof, the Owner Trustee shall, on behalf of itself and of the
Issuer, execute and deliver to the Administrator, and to each successor
Administrator appointed pursuant to the terms hereof, one or more powers of
attorney substantially in the form of EXHIBIT A hereto, appointing the
Administrator the attorney-in-fact of the Owner Trustee and the Issuer for the
purpose of executing on behalf of the Owner Trustee and the Issuer all such
documents, reports, filings, instruments, certificates and opinions.

                  (c) NON-MINISTERIAL MATTERS. (i) With respect to matters that
in the reasonable judgment of the Administrator are non-ministerial, the
Administrator shall not take any action unless within a reasonable time before
the taking of such action, the Administrator shall have notified the Owner
Trustee of the proposed action and the Owner Trustee shall not have withheld
consent or provided an alternative direction. For the purpose of the preceding
sentence, "NON-MINISTERIAL MATTERS" shall include, without limitation:

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                  (A) the initiation of any claim or lawsuit by the Issuer and
         the compromise of any action, claim or lawsuit brought by or against
         the Issuer (other than in connection with the collection of the
         Receivables);

                  (B) the amendment, change or modification of the Related
         Agreements;

                  (C) the appointment of successor Note Registrars, successor
         Paying Agents and successor Indenture Trustees pursuant to the
         Indenture or the appointment of successor Administrators or successor
         Servicers, or the consent to the assignment by the Note Registrar, the
         Paying Agent or the Indenture Trustee of its obligations under the
         Indenture; and

                  (D) the removal of the Indenture Trustee.

                  (ii)     Notwithstanding anything to the contrary in this
Agreement, the Administrator shall not be obligated to, and shall not, (x) make
any payments to the Noteholders, the Certificateholders or the Class R
Certificateholder under the Related Agreements, (y) sell the Trust Estate
pursuant to Section 5.4 of the Indenture or (z) take any action that the Issuer
directs the Administrator not to take on its behalf.

                  SECTION 2. RECORDS. The Administrator shall maintain
appropriate books of account and records relating to services performed
hereunder, which books of account and records shall be accessible for inspection
by the Issuer, the Owner Trustee, the Indenture Trustee and the Seller at any
time during normal business hours.

                  SECTION 3. COMPENSATION. As compensation for the performance
of the Administrator's obligations under this Agreement, the Administrator shall
be entitled to $1,000 per month which shall be payable in accordance with
Section 5.5 of the Sale and Servicing Agreement.

                  SECTION 4. ADDITIONAL INFORMATION TO BE FURNISHED TO ISSUER.
The Administrator shall furnish to the Issuer from time to time such additional
information regarding the Collateral as the Issuer shall reasonably request,
including notification of Noteholders pursuant to Section 1(a)(i) hereof.

                  SECTION 5. INDEPENDENCE OF ADMINISTRATOR. For all purposes of
this Agreement, the Administrator shall be an independent contractor and shall
not be subject to the supervision of the Issuer or the Owner Trustee with
respect to the manner in which it accomplishes the performance of its
obligations hereunder. Unless expressly authorized by the Issuer or the Owner
Trustee, as the case may be, the Administrator shall have no authority to act
for or represent the Issuer or the Owner Trustee in any way and shall not
otherwise be deemed an agent of the Issuer or the Owner Trustee.

                  SECTION 6. NO JOINT VENTURE. Nothing contained in this
Agreement shall (i) constitute the Administrator and either of the Issuer or the
Owner Trustee as members of any partnership, joint venture, association,
syndicate, unincorporated business or other separate

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                                                                               8

entity, (ii) be construed to impose any liability as such on any of them or
(iii) be deemed to confer on any of them any express, implied or apparent
authority to incur any obligation or liability on behalf of the others.

                  SECTION 7. OTHER ACTIVITIES OF ADMINISTRATOR. (a) Nothing
herein shall prevent the Administrator or its affiliates from engaging in other
businesses or, in its sole discretion, from acting in a similar capacity as an
administrator for any other person or entity even though such person or entity
may engage in business activities similar to those of the Issuer, the Owner
Trustee or the Indenture Trustee.

                  (b) The Administrator and its affiliates may generally engage
in any kind of business with any person party to a Related Agreement, any of its
affiliates and any person who may do business with or own securities of any such
person or any of its affiliates, without any duty to account therefor to the
Issuer, the Owner Trustee or the Indenture Trustee.

                  SECTION 8. TERM OF AGREEMENT; RESIGNATION AND REMOVAL OF
ADMINISTRATOR. (a) This Agreement shall continue in force until the dissolution
of the Issuer, upon which event this Agreement shall automatically terminate.

                  (b) Subject to SECTIONS 8(E) AND (F), the Administrator may
resign its duties hereunder by providing the Issuer and the Owner Trustee with
at least 60 days' prior written notice.

                  (c) Subject to SECTIONS 8(E) AND (F), the Issuer may remove
the Administrator without cause by providing the Administrator with at least 60
days' prior written notice.

                  (d) Subject to SECTIONS 8(E) AND (F), at the sole option of
the Issuer, the Administrator may be removed immediately upon written notice of
termination from the Issuer to the Administrator if any of the following events
shall occur:

                           (i) the Administrator shall default in the
         performance of any of its duties under this Agreement and, after notice
         of such default, shall not cure such default within ten days (or, if
         such default cannot be cured in such time, shall not give within ten
         days such assurance of cure as shall be reasonably satisfactory to the
         Issuer);

                           (ii) a court having jurisdiction in the premises
         shall enter a decree or order for relief, and such decree or order
         shall not have been vacated within 60 days, in respect of the
         Administrator in any involuntary case under any applicable bankruptcy,
         insolvency or other similar law now or hereafter in effect or appoint a
         receiver, liquidator, assignee, custodian, trustee, sequestrator or
         similar official for the Administrator or any substantial part of its
         property or order the winding-up or liquidation of its affairs; or

                           (iii) the Administrator shall commence a voluntary
         case under any applicable bankruptcy, insolvency or other similar law
         now or hereafter in effect, shall consent to the entry of an order for
         relief in an involuntary case under any such law, or shall consent to
         the appointment of a receiver, liquidator, assignee, trustee,
         custodian,

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                                                                               9

         sequestrator or similar official for the Administrator or any
         substantial part of its property, shall consent to the taking of
         possession by any such official of any substantial part of its
         property, shall make any general assignment for the benefit of
         creditors or shall fail generally to pay its debts as they become due.

                  The Administrator agrees that if any of the events specified
in clause (ii) or (iii) of this Section shall occur, it shall give written
notice thereof to the Issuer, the Owner Trustee and the Indenture Trustee within
seven days after the happening of such event.

                  (e) No resignation or removal of the Administrator pursuant to
this Section shall be effective until (i) a successor Administrator shall have
been appointed by the Issuer and (ii) such successor Administrator shall have
agreed in writing to be bound by the terms of this Agreement in the same manner
as the Administrator is bound hereunder.

                  (f) The appointment of any successor Administrator shall be
effective only after receipt of written confirmation from each Rating Agency
that the proposed appointment will not result in the qualification, downgrading
or withdrawal of any rating assigned to the Notes and Certificates by such
Rating Agency.

                  (g) A successor Administrator shall execute, acknowledge and
deliver a written acceptance of its appointment hereunder to the resigning
Administrator and to the Issuer. Thereupon the resignation or removal of the
resigning Administrator shall become effective, and the successor Administrator
shall have all the rights, powers and duties of the Administrator under this
Indenture. The successor Administrator shall mail a notice of its succession to
the Noteholders and the Certificateholders. The resigning Administrator shall
promptly transfer or cause to be transferred all property and any related
agreements, documents and statements held by it as Administrator to the
successor Administrator and the resigning Administrator shall execute and
deliver such instruments and do other things as may reasonably be required for
fully and certainly vesting in the successor Administrator all rights, powers,
duties and obligations hereunder.

                  (h) In no event shall a resigning Administrator be liable for
the acts or omissions of any successor Administrator hereunder.

                  (i) In the exercise or administration of its duties hereunder
and under the Related Agreements, the Administrator may act directly or through
its agents or attorneys pursuant to agreements entered into with any of them,
and the Administrator shall not be liable for the conduct or misconduct of such
agents or attorneys if such agents or attorneys shall have been selected by the
Administrator with due care.

                  SECTION 9. ACTION UPON TERMINATION, RESIGNATION OR REMOVAL.
Promptly upon the effective date of termination of this Agreement pursuant to
SECTION 8(A) or the resignation or removal of the Administrator pursuant to
SECTION 8(B) or (C), respectively, the Administrator shall be entitled to be
paid all fees and reimbursable expenses accruing to it to the date of such
termination, resignation or removal. The Administrator shall forthwith upon
termination pursuant to SECTION 8(A) deliver to the Issuer all property and
documents of or

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                                                                              10

relating to the Collateral then in the custody of the Administrator. In the
event of the resignation or removal of the Administrator pursuant to SECTION
8(B) or (C), respectively, the Administrator shall cooperate with the Issuer and
take all reasonable steps requested to assist the Issuer in making an orderly
transfer of the duties of the Administrator.

                  SECTION 10. NOTICES. Any notice, report or other communication
given hereunder shall be in writing and addressed as follows:

                  (a) if to the Issuer or the Owner Trustee, to

                           Wilmington Trust Company
                           Rodney Square North
                           1100 North Market Square
                           Wilmington, Delaware  19890-0001
                           Attention:  Corporate Trust Administration

                  with a copy to:

                           Chase Automotive Finance Corporation
                           900 Stewart Avenue
                           Garden City, New York 11530
                           Attention: Financial Controller

                  (b) if to the Administrator, to

                           JPMorgan Chase Bank
                           450 West 33rd Street
                           14th Floor
                           New York, New York  10001-2697
                           Attention: Structured Finance/Chase Auto

                  (c) if to the Indenture Trustee, to

                           Wells Fargo Bank Minnesota, National Association
                           Sixth Street and Marquette Avenue MAC N9311-161
                           Minneapolis, Minnesota  55479

                  (d) if to the Seller, to

                           Chase Manhattan Automotive Finance Corporation
                           900 Stewart Avenue
                           Garden City, New York 11530
                           Attention Financial Controller

or to such other address as any party shall have provided to the other parties
in writing. Any notice required to be in writing hereunder shall be deemed given
if such notice is mailed by

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                                                                              11

certified mail, postage prepaid, or hand-delivered to the address of such party
as provided above, except that notices to the Indenture Trustee are effective
only upon receipt.

                  SECTION 11. AMENDMENTS. This Agreement may be amended from
time to time by a written amendment duly executed and delivered by the Issuer,
the Administrator and the Indenture Trustee, with the written consent of the
Owner Trustee and without the consent of the Noteholders and the
Certificateholders, for the purpose of adding any provisions to or changing in
any manner or eliminating any of the provisions of this Agreement or of
modifying in any manner the rights of the Noteholders or Certificateholders;
provided that such amendment will not, as evidenced by an Opinion of Counsel,
materially and adversely affect the interest of any Noteholder, any
Certificateholder or the Class R Certificateholder. This Agreement may also be
amended by the Issuer, the Administrator and the Indenture Trustee with the
written consent of the Owner Trustee and the holders of Notes evidencing a
majority in the Outstanding Amount of the Notes and the holders of Certificates
evidencing a majority of the Certificate Balance and the Class R
Certificateholder for the purpose of adding any provisions to or changing in any
manner or eliminating any of the provisions of this Agreement or of modifying in
any manner the rights of Noteholders, the Certificateholders or the Class R
Certificateholder; provided, however, that no such amendment may (i) increase or
reduce in any manner the amount of, or accelerate or delay the timing of,
collections of payments on Receivables or distributions that are required to be
made for the benefit of the Noteholders or Certificateholders or (ii) reduce the
aforesaid percentage of the holders of Notes and Certificates which are required
to consent to any such amendment, without the consent of the holders of all the
outstanding Notes and Certificates. Notwithstanding the foregoing, the
Administrator may not amend this Agreement without the permission of the Seller,
which permission shall not be unreasonably withheld.

                  SECTION 12. SUCCESSORS AND ASSIGNS. This Agreement may not be
assigned by the Administrator unless such assignment is previously consented to
in writing by the Issuer and the Owner Trustee and subject to receipt by the
Owner Trustee of written confirmation from each Rating Agency that such
assignment will not result in the qualification, downgrading or withdrawal of
any rating assigned to the Notes and Certificates by such Rating Agency in
respect thereof. An assignment with such consent and satisfaction, if accepted
by the assignee, shall bind the assignee hereunder in the same manner as the
Administrator is bound hereunder. Notwithstanding the foregoing, this Agreement
may be assigned by the Administrator without the consent of the Issuer or the
Owner Trustee to a corporation or other organization that is a successor (by
merger, consolidation or purchase of assets) to the Administrator, provided that
such successor organization executes and delivers to the Issuer, the Owner
Trustee and the Indenture Trustee an agreement in which such corporation or
other organization agrees to be bound hereunder by the terms of said assignment
in the same manner as the Administrator is bound hereunder. Subject to the
foregoing, this Agreement shall bind any successors or assigns of the parties
hereto.

<PAGE>
                                                                              12

                  SECTION 13. GOVERNING LAW. THIS AGREEMENT SHALL BE GOVERNED
BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF
NEW YORK.

                  SECTION 14. HEADINGS. The section headings hereof have been
inserted for convenience of reference only and shall not be construed to affect
the meaning, construction or effect of this Agreement.

                  SECTION 15. COUNTERPARTS. This Agreement may be executed in
counterparts, each of which when so executed shall together constitute but one
and the same agreement.

                  SECTION 16. SEVERABILITY. Any provision of this Agreement that
is prohibited or unenforceable in any jurisdiction shall be ineffective to the
extent of such prohibition or unenforceability without invalidating the
remaining provisions hereof and any such prohibition or unenforceability in any
jurisdiction shall not invalidate or render unenforceable such provision in any
other jurisdiction.

                  SECTION 17. NOT APPLICABLE TO JPMORGAN CHASE BANK IN OTHER
CAPACITIES. Nothing in this Agreement shall affect any obligation that JPMorgan
Chase Bank may have in any other capacity.

                  SECTION 18. LIMITATION OF LIABILITY OF OWNER TRUSTEE,
INDENTURE TRUSTEE AND ADMINISTRATOR. (a) Notwithstanding anything contained
herein to the contrary, this instrument has been signed by Wilmington Trust
Company not in its individual capacity but solely in its capacity as Owner
Trustee of the Issuer and in no event shall Wilmington Trust Company in its
individual capacity or any beneficial owner of the Issuer have any liability for
the representations, warranties, covenants, agreements or other obligations of
the Issuer hereunder, as to all of which recourse shall be had solely to the
assets of the Issuer. For all purposes of this Agreement, in the performance of
any duties or obligations of the Issuer hereunder, the Owner Trustee shall be
subject to, and entitled to the benefits of, the terms and provisions of
Articles VI, VII and VIII of the Trust Agreement.

                  (b) Notwithstanding anything contained herein to the contrary,
this Agreement has been signed by Wells Fargo Bank Minnesota, not in its
individual capacity but solely as Indenture Trustee, and in no event shall Wells
Fargo Bank Minnesota have any liability for the representations, warranties,
covenants, agreements or other obligations of the Issuer hereunder or in any of
the certificates, notices or agreements delivered pursuant hereto, as to all of
which recourse shall be had solely to the assets of the Issuer.

                  (c) No recourse under any obligation, covenant or agreement of
the Issuer contained in this Agreement shall be had against any agent of the
Issuer (including the Administrator) as such by the enforcement of any
assessment or by any legal or equitable proceeding, by virtue of any statute or
otherwise; it being expressly agreed and understood that this Agreement is
solely an obligation of the Issuer as a Delaware business trust, and that no
personal liability whatsoever shall attach to or be incurred by any agent of the
Issuer (including the Administrator), as such, under or by reason of any of the
obligations, covenants or

<PAGE>
                                                                              13

agreements of the Issuer contained in this Agreement, or implied therefrom, and
that any and all personal liability for breaches by the Issuer of any such
obligations, covenants or agreements, either at common law or at equity, or by
statute or constitution, of every such agent is hereby expressly waived as a
condition of and in consideration for the execution of this Agreement.

                  SECTION 19. THIRD-PARTY BENEFICIARY. Each of the Seller (to
the extent provided in Section 11) and the Owner Trustee is a third-party
beneficiary to this Agreement and is entitled to the rights and benefits
hereunder and may enforce the provisions hereof as if it were a party hereto.

                  SECTION 20. NONPETITION COVENANTS. Notwithstanding any prior
termination of this Agreement, the Administrator, the Issuer and the Indenture
Trustee shall not, prior to the date which is one year and one day after the
termination of this Agreement with respect to the Issuer, acquiesce, petition or
otherwise invoke or cause the Issuer to invoke the process of any court of
government authority for the purpose of commencing or sustaining a case against
the Issuer under any Federal or state bankruptcy, insolvency or similar law or
appointing a receiver, liquidator, assignee, trustee, custodian, sequestrator or
other similar official of the Issuer or any substantial part of its property, or
ordering the winding up or liquidation of the affairs of the Issuer.

                  SECTION 21. LIABILITY OF ADMINISTRATOR. Notwithstanding any
provision of this Agreement, the Administrator shall not have any obligations
under this Agreement other than those specifically set forth herein, and no
implied obligations of the Administrator shall be read into this Agreement.
Neither the Administrator nor any of its directors, officers, agents or
employees shall be liable for any action taken or omitted to be taken in good
faith by it or them under or in connection with this Agreement, except for its
or their own gross negligence or willful misconduct and in no event shall the
Administrator be liable under or in connection with this Agreement for indirect,
special, or consequential losses or damages of any kind, including lost profits,
even if advised of the possibility thereof and regardless of the form of action
by which such losses or damages may be claimed. Without limiting the foregoing,
the Administrator may (a) consult with legal counsel (including counsel for the
Issuer), independent public accountants and other experts selected by it and
shall not be liable for any action taken or omitted to be taken in good faith by
it in accordance with the advice of such counsel, accountants or experts and (b)
shall incur no liability under or in respect of this Agreement by acting upon
any notice (including notice by telephone), consent, certificate or other
instrument or writing (which may be by facsimile) believed by it to be genuine
and signed or sent by the proper party or parties.

<PAGE>

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

                              CHASE MANHATTAN AUTO OWNER TRUST
                                       2002-A

                              By:  WILMINGTON TRUST COMPANY,
                                       not in its individual capacity but solely
                                       as Owner Trustee,

                              By:        /s/  Anita Dallago
                                  ----------------------------------------------
                                  Name:       Anita Dallago
                                  Title:      Financial Services Officer

                              WELLS FARGO BANK MINNESOTA,
                                NATIONAL ASSOCIATION,
                              not in its individual capacity but solely
                              as Indenture Trustee,

                              By:        /s/  Marianna Stershic
                                  ----------------------------------------------
                                  Name:       Marianna Stershic
                                  Title:      Vice President

                              JPMORGAN CHASE BANK,
                              as Administrator

                              By:        /s/  Jennifer H. Baran
                                  ----------------------------------------------
                                  Name:       Jennifer H. Baran
                                  Title:      Vice President<PAGE>

                                                          Exhibit No. 10(iii)(s)

                            INDEMNIFICATION AGREEMENT
                                       FOR
               DIRECTORS AND OFFICERS OF ARMSTRONG HOLDINGS, INC.

         This Agreement is made effective as of the 1st day of May, 2001, by and
among Armstrong Holdings, Inc., a Pennsylvania corporation (the "Corporation"),
Armstrong World Industries, Inc., also a Pennsylvania corporation (the
"Subsidiary," and together with the Corporation referred to as the
"Indemnitors") and M. EDWARD SELLERS (the "Indemnitee").

         WHEREAS, it is essential to the Corporation and the Subsidiary that the
Corporation retain and attract as directors and officers the most capable
persons available; and

         WHEREAS, Indemnitee is an officer and/or a member of the Board of
Directors of the Corporation and in that capacity is performing a valuable
service for the Corporation, which inures to the benefit of the Subsidiary; and

         WHEREAS, the Indemnitors have purchased and maintain policies of
Directors and Officers Liability Insurance ("D & O Insurance") covering certain
liabilities which may be incurred by directors and officers in their performance
of services for the Corporation; and

         WHEREAS, there is concern over the continued adequacy and reliability
of D & O Insurance protection available to corporate directors and officers; and

         WHEREAS, the Corporation has a bylaw (the "Bylaw") which provides for
indemnification of and advancement of expenses to the officers and directors of
the Corporation unless the act or failure to act giving rise to the claim for
indemnification is determined by a court to have constituted willful misconduct
or recklessness, and the Bylaw and the applicable indemnification statutes of
the Commonwealth of Pennsylvania provide that they are not exclusive; and

         WHEREAS, in recognition of Indemnitee's need for substantial protection
against personal liability in order to induce and retain Indemnitee's service to
the Corporation, the increasing difficulty in obtaining satisfactory D & O
Insurance coverage, and Indemnitee's reliance on the Bylaw, and in part to
provide Indemnitee with specific contractual assurance that the protection
promised by the Bylaw will be available to Indemnitee (regardless of, among
other things, any amendment to or revocation of the Bylaws or any

<PAGE>

change in the composition of the Corporation's Board of Directors or acquisition
transaction relating to the Corporation), the Indemnitors wish to provide in
this Agreement for the indemnification of and the advancing of expenses to
Indemnitee to the fullest extent (whether partial or complete) permitted by law
and as set forth in this Agreement, and, to the extent insurance is maintained,
for the continued coverage of Indemnitee under the Indemnitors' D & O Insurance
policies.

         NOW, THEREFORE, in consideration of the premises and of Indemnitee
agreeing to serve or continuing to serve the Corporation directly or, at its
request, another enterprise, and intending to be legally bound hereby, the
parties hereto agree as follows:

1.       Indemnity of Indemnitee.
         -----------------------

         (a) The Indemnitors shall hold harmless and indemnify the Indemnitee
against any and all reasonable expenses, including attorneys' fees, and any and
all liability and loss, including judgments, fines, ERISA excise taxes or
penalties and amounts paid or to be paid in settlement, incurred or paid by
Indemnitee in connection with any threatened, pending or completed action, suit
or proceeding, whether civil, criminal, administrative or investigative
(hereinafter "a proceeding") and whether or not by or in the right of the
Corporation or otherwise, to which the Indemnitee is, was or at any time becomes
a party, or is threatened to be made a party or is involved (as a witness or
otherwise) by reason of the fact that Indemnitee is or was a director or officer
of the Corporation or is or was serving at the request of the Corporation as
director, officer, trustee or representative of another corporation or of a
partnership, joint venture, trust or other enterprise, including service with
respect to employee benefit plans, whether the basis of such proceeding is
alleged action in an official capacity, or in any other capacity while serving,
as a director, officer, trustee or representative, unless the act or failure to
act giving rise to the claim for indemnification is determined by a court to
have constituted willful misconduct or recklessness; provided, however, that the
Indemnitors shall indemnify the Indemnitee in connection with a proceeding (or
part thereof) initiated by the Indemnitee (other than a proceeding to enforce
the Indemnitee's rights to indemnification under this Agreement or otherwise)
prior to a Change of Control, as defined in Section 2(e), only if such
proceeding (or part thereof) was authorized by the Board of Directors of the
Corporation.

<PAGE>

         (b) Subject to the foregoing limitation concerning certain proceedings
initiated by the Indemnitee prior to a Change of Control, the Indemnitors shall
pay the expenses (including attorneys' fees) incurred by Indemnitee in
connection with any proceeding in advance of the final disposition thereof
promptly after receipt by the Indemnitors of a request therefor stating in
reasonable detail the expenses incurred or to be incurred.

         (c) If a claim under paragraph (a) or (b) of this section is not paid
in full by the Indemnitors within forty-five (45) days after a written claim has
been received by the Corporation, the Indemnitee may, at any time thereafter,
bring suit against the Indemnitors to recover the unpaid amount of the claim.
The burden of proving that indemnification or advances are not appropriate shall
be on the Indemnitors. The Indemnitee shall also be entitled to be paid the
expenses of prosecuting such claim to the extent he or she is successful in
whole or in part on the merits or otherwise in establishing his or her right to
indemnification or to the advancement of expenses. The Indemnitors shall pay
such fees and expenses in advance of the final disposition of such action on the
terms and conditions set forth in Section 1(b).

2.       Maintenance of Insurance and Funding.
         ------------------------------------

         (a) The Indemnitors represent that as of the present date, they have in
force and effect various policies of D & O Insurance (the "Insurance Policies"),
with total aggregate limits of $150 million. Subject only to the provisions of
Section 2(b) hereof, the Indemnitors agree that, so long as Indemnitee shall
continue to serve as an officer or director of the Corporation (or shall
continue at the request of the Corporation to serve as a director, officer,
trustee or representative of another Armstrong corporation, partnership, joint
venture, trust or other enterprise, including service with respect to an
employee benefit plan) and thereafter so long as Indemnitee shall be subject to
any possible claim or threatened, pending or completed action, suit or
proceeding, whether civil, criminal or investigative, by reason of the fact that
Indemnitee was a director or officer of the Corporation (or served in any of
said other capacities), except as indicated in (b) below, the Indemnitors shall
purchase and maintain in effect for the benefit of Indemnitee a binding and
enforceable policy or policies of D & O Insurance providing coverage at least
comparable to that provided pursuant to the Insurance Policies.

<PAGE>

         (b) The Corporation shall not be required to maintain said policy or
policies of D & O Insurance in effect if, in the reasonable business judgment of
the then directors of the Corporation (i) the premium cost for such insurance is
substantially disproportionate to the amount of coverage, (ii) the coverage
provided by such insurance is so limited by exclusions that there is
insufficient benefit from such insurance or (iii) said insurance is not
otherwise reasonably available; provided however, that in the event those
directors make such a judgment, the Indemnitors shall purchase and maintain in
force a policy or policies of D & O Insurance in the amount and with such
coverage as such directors determine to be reasonably available. Notwithstanding
the general provisions of this Section 2(b), following a Change of Control, any
decision not to maintain any policy or policies of D & O Insurance or to reduce
the amount or coverage under any such policy or policies shall be effective only
if there are "disinterested directors" (as defined in Section 2(e) hereof) and
shall require the concurrence of a majority of such "disinterested directors."

         (c) If and to the extent the Indemnitors, acting under Section 2(b), do
not purchase and maintain in effect the policy or policies of D & O Insurance
described in Section 2(a), the Indemnitors shall indemnify and hold harmless the
Indemnitee to the full extent of the coverage which would otherwise have been
provided by such policies. The rights of the Indemnitee hereunder shall be in
addition to all other rights of Indemnitee under the remaining provisions of
this Agreement.

         (d) In the event of a Potential Change of Control or if and to the
extent the Indemnitors are not required to maintain in effect the policy or
policies of D & O Insurance described in Section 2(a) pursuant to the provisions
of Section 2(b), the Indemnitors shall, upon written request by Indemnitee,
create a "Trust" for the benefit of Indemnitee and from time to time, upon
written request by Indemnitee, shall fund such Trust in an amount sufficient to
pay any and all expenses, including attorneys' fees, and any and all liability
and loss, including judgments, fines, ERISA excise taxes or penalties and
amounts paid or to be paid in settlement actually and reasonably incurred by
Indemnitee or on his or her behalf for which the Indemnitee is entitled to
indemnification or with respect to which indemnification is claimed, reasonably
anticipated or proposed to be paid in accordance with the terms of this
Agreement or otherwise; provided that in no event shall more than $100,000 be
required to be deposited in any Trust created hereunder in excess of the amounts
deposited in respect of reasonably anticipated expenses, including attorneys'
fees. The amounts

<PAGE>

to be deposited in the Trust pursuant to the foregoing funding
obligation shall be determined by the Reviewing Person whose determination shall
be final and conclusive. The Reviewing Person shall have no liability to the
Indemnitee for his or her decisions hereunder. The terms of the Trust shall
provide that upon a Change of Control (i) the Trust shall not be revoked or the
principal thereof invaded, without the written consent of the Indemnitee, (ii)
the Trust shall advance, within two business days of a request by the
Indemnitee, any and all expenses, including attorneys' fees, to the Indemnitee
(and the Indemnitee hereby agrees to reimburse the Trust under the circumstances
under which the Indemnitee would be required to reimburse the Trustee under
Section 5 of this Agreement), (iii) the Trust shall continue to be funded by the
Indemnitors in accordance with the funding obligation set forth above, (iv) the
Trustee shall promptly pay to the Indemnitee all amounts for which the
Indemnitee shall be entitled to indemnification pursuant to this Agreement or
otherwise, and (v) all unexpended funds in such Trust shall revert to the
Indemnitors upon a final determination by the Reviewing Party or a court of
competent jurisdiction, as the case may be, that the Indemnitee has been fully
indemnified under the terms of this Agreement. The Trustee shall be a bank or
trust company or other individual or entity chosen by the Indemnitee and
acceptable to and approved of by the Indemnitors.

         (e)  For the purposes of this Agreement:

                  (i) a "Change of Control" shall occur if and when (A) any
person acquires "beneficial ownership" of more than 28% of the then outstanding
"voting stock" of the Corporation and within five years thereafter,
"disinterested directors" no longer constitute at least a majority of its entire
Board of Directors or (B) there shall occur a "business combination" with an
"interested shareholder" not approved by a majority of the "disinterested
directors".

                  (ii) a "Potential Change of Control" shall occur if (A) the
Corporation enters into an agreement or arrangement, the consummation of which
would result in the occurrence of a Change in Control; (B) any person publicly
announces a tender offer or comparable action which if consummated would
constitute a Change of Control; (C) any person (other than a trustee or other
fiduciary holding securities under an employee benefit plan of the Corporation
acting in such capacity or a corporation owned, directly or indirectly, by the
shareholders of the Corporation in substantially the same proportions as

<PAGE>

their ownership of stock of the Corporation), who is or becomes the
beneficial owner, directly or indirectly, of securities of the Corporation
representing 10% or more of the combined voting stock increases his or her
beneficial ownership of such securities by 5% or more over the percentage so
owned by such person on the date hereof; or (D) the Board of the Corporation
adopts a resolution to the effect that, for the purposes of this Agreement, a
Potential Change of Control has occurred.

                  (iii) a "Reviewing Person" means any appropriate person or
body consisting of a member or members of the Corporation's Board of Directors
or any other person or body appointed by that Board which, following a Change of
Control, shall require the concurrence of a majority of the "disinterested
directors" or shall be independent legal counsel approved and accepted by the
Indemnitee who is not a party to the particular claim for which Indemnitee is
seeking indemnification.

                  For purposes of this subsection, the terms "person,"
"beneficial owner," "voting stock," "disinterested director," "business
combination," and "interested shareholder" shall have the meaning given to them
in Article 7 of the Corporation's Articles of Incorporation as in effect on May
l, 2000.

3.       Continuation of Indemnity.
         -------------------------

         All agreements and obligations of the Indemnitors contained in this
Agreement shall continue during the period the Indemnitee is a director or
officer of the Corporation (or is or was serving at the request of the
Corporation as a director, officer, trustee or representative of another
Armstrong corporation, partnership, joint venture, trust or other enterprise,
including any employee benefit plan) and shall continue thereafter so long as
the Indemnitee shall be subject to any possible claim or threatened, pending or
completed action, suit or proceeding, whether civil, criminal or investigative,
by reason of the fact that the Indemnitee was a director or officer of the
Corporation or serving in any other capacity referred to herein.

4.       Notification and Defense of Claim.
         ----------------------------------

         As soon as practicable after receipt by the Indemnitee of actual
knowledge of any action, suit or proceeding the Indemnitee will notify the
Indemnitors thereof, if a claim in respect thereof may be or is being made by
the Indemnitee against the Indemnitors under this Agreement. With respect to any
action, suit or proceeding as to which the Indemnitee has so notified the
Indemnitors:

         (a) The Indemnitors will be entitled to participate therein at its own
expense; and

<PAGE>

         (b) Except as otherwise provided below, the Indemnitors may assume the
defense thereof, with counsel reasonably satisfactory to the Indemnitee. After
the Indemnitors notify the Indemnitee of their election to so assume the
defense, the Indemnitors will not be liable to the Indemnitee under this
Agreement for any legal or other expenses subsequently incurred by the
Indemnitee in connection with the defense, other than reasonable costs of
investigation, including an investigation in connection with determining whether
there exists a conflict of interest of the type described in (ii) of this
paragraph, or as otherwise provided in this paragraph. The Indemnitee shall have
the right to employ his or her counsel in such action, suit or proceeding but
the fees and expenses of such counsel incurred after the Indemnitors notify the
Indemnitee of their assumption of the defense shall be at the expense of the
Indemnitee unless (i) the Indemnitors authorize the Indemnitee's employment of
counsel which, following a "Change of Control", shall be effective if authorized
by a majority of the "disinterested directors" (which terms are defined in
Section 2(e)), although less than a quorum or majority of a quorum of the
directors then in office; (ii) the Indemnitee shall have reasonably concluded
that there may be a conflict of interest between the Indemnitors and the
Indemnitee in the conduct of the defense or (iii) the Indemnitors shall not have
employed counsel to assume the defense of such action, in each of which cases
the fees and expenses of counsel shall be at the expense of the Indemnitors. The
Indemnitors shall not be entitled to assume the defense of any action, suit or
proceeding brought by or on behalf of the Indemnitors or as to which the
Indemnitee shall have made the conclusion described in (ii) of this paragraph.

         (c) The Indemnitors shall not be obligated to indemnify the Indemnitee
under this Agreement for any amounts paid in settlement of any action or claim
effected without their written consent. The Indemnitors shall not settle any
action or claim in any manner which would impose any penalty limitation on the
Indemnitee without the Indemnitee's written consent. Neither the Indemnitors nor
the Indemnitee shall unreasonably withhold their consent to any proposed
settlement.

5.       Undertaking to Repay Expenses.
         -----------------------------

         In the event it shall ultimately be determined that the Indemnitee is
not entitled to be indemnified for the expenses paid by the Indemnitors pursuant
to Section 1(b) hereof or otherwise or was not entitled to be

<PAGE>

fully indemnified, the Indemnitee shall repay to the Indemnitors such amount of
the expenses or the appropriate portion thereof, so paid or advanced.

6.       Notice.
         ------

         Any notice to the Corporation shall be directed to Armstrong Holdings,
Inc., 2500 Columbia Avenue, Lancaster, Pennsylvania 17603, Attention: Secretary
(or such other address as the Corporation shall designate in writing to the
Indemnitee). Notice to the Subsidiary shall be directed to it at that same
address.

7.       Enforcement.
         -----------

         In the event the Indemnitee is required to bring any action to enforce
rights or to collect monies due under this Agreement, the Indemnitors shall pay
to the Indemnitee the fees and expenses incurred by the Indemnitee in bringing
and pursuing such action to the extent the Indemnitee is successful, in whole or
in part, on the merits or otherwise, in such action. The Indemnitors shall pay
such fees and expenses in advance of the final disposition of such action on the
terms and conditions set forth in Section 1(b).

8.       Severability.
         ------------

         If any provision or provisions of this Agreement shall be held to be
invalid, illegal or unenforceable for any reason whatsoever:

         (a) the validity, legality and enforceability of the remaining
provisions of this Agreement (including without limitation, each portion of any
Section of this Agreement containing any such provision held to be invalid,
illegal or unenforceable, that is not itself invalid, illegal or unenforceable)
shall not in any way be affected or impaired thereby; and

         (b) to the fullest extent possible, the provisions of this Agreement
(including, without limitation, each portion of any Section of this Agreement
containing any such provision held to be invalid, illegal or unenforceable, that
is not itself invalid, illegal or unenforceable) shall be construed so as to
give effect to the intent manifested by the provision held invalid, illegal or
unenforceable.

9.       Indemnification Under this Agreement Not Exclusive.
         --------------------------------------------------

         The indemnification provided by this Agreement shall not be deemed
exclusive of any other rights to which the Indemnitee may be entitled under the
Articles of Incorporation of the Corporation or its bylaws,

<PAGE>

any other agreement, any vote of stockholders or directors, or otherwise, both
as to action in the Indemnitee's official capacity and as to action in another
capacity while holding such office.

10.      Miscellaneous.
         -------------

         (a) This Agreement shall be interpreted and enforced in accordance with
the laws of the Commonwealth of Pennsylvania.

         (b) This Agreement shall be binding upon the Indemnitee and jointly and
severally upon the Corporation, the Subsidiary and their respective successors
and assigns, and shall inure to the benefit of the Indemnitee, his or her heirs,
executors, personal representatives and assigns and to the benefit of the
Corporation, the Subsidiary and their respective successors and assigns. If the
Corporation shall merge or consolidate with another corporation or shall sell,
lease, transfer or otherwise dispose of all or substantially all of its assets
to one or more persons or groups (in one transaction or series of transactions),
(i) the Corporation shall cause the successor in the merger or consolidation or
the transferee of the assets that is receiving the greatest portion of the
assets or earning power transferred pursuant to the transfer of the assets, by
agreement in form and substance satisfactory to the Indemnitee, to expressly
assume all of the Indemnitors' obligations under and agree to perform this
Agreement, and (ii) the term "Corporation" whenever used in this Agreement shall
mean and include any such successor or transferee.

         (c) No amendment, modification, termination or cancellation of this
Agreement shall be effective unless in writing signed by both of the parties
hereto.

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

ARMSTRONG HOLDINGS, INC.                       ARMSTRONG WORLD INDUSTRIES, INC.

<PAGE>

By ________________________________         By _________________________________
         Title:  Chairman and CEO                     Title:  Chairman

                            ______________________________
                                       Indemnitee

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