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                                                                    EXHIBIT 4(c)

      CERTIFICATE OF DESIGNATION, PREFERENCES AND RIGHTS OF SERIES A JUNIOR
                          PARTICIPATING PREFERRED STOCK

                                       OF

                           FLEETWOOD ENTERPRISES, INC.

             Pursuant to Section 151 of the General Corporation Law

                            Of the State of Delaware

       We, Glenn F. Kummer, President, and William H. Lear, Secretary of
Fleetwood Enterprises, Inc., a corporation organized and existing under the
General Corporation Law of the State of Delaware, in accordance with provisions
of Section 103 thereof, DO HEREBY CERTIFY:

       That pursuant to the authority conferred upon the Board of Directors by
the Certificate of Incorporation of the said Corporation, the said Board of
Directors on November 10, 1988, adopted the following resolution creating a
series of 50,000 shares of Preferred Stock designated as Series A Junior
Participating Preferred Stock:

       RESOLVED, that pursuant to the authority vested in the Board of Directors
of the Corporation by the Certificate of Incorporation, the Board of Directors
does hereby provide for the issue of a series of Junior Preferred Stock, $1.00
per value, of the Corporation, to be designated "Series A Junior Participating
Preferred Stock"), initially consisting of 50,000 shares, and to the extent that
the designations, powers, preferences and relative and other special rights and
the qualifications, limitations and restrictions of the Series A Preferred Stock
are not stated and expressed in the Certificate of Incorporation, does hereby
fix and herein state and express such designations, powers, preferences and
relative and other special rights and the qualifications, limitations and
restrictions thereof as follows (all terms used herein which are defined in the
Certificate of Incorporation shall be deemed to have the meanings provided
therein):

       Section 1. DESIGNATION AND AMOUNT. The shares of such series shall be
designated as "Series A Junior Participating Preferred Stock" and the number of
shares constituting such series shall by 50,000.

       Section 2.  DIVIDENDS AND DISTRIBUTIONS.

       (A) Subject to the prior and superior rights of the holders of any shares
of any series of Preferred Stock ranking prior and superior to the shares of
Series A Preferred Stock with respect to dividends, the holders of shares of
Series A Preferred Stock shall be entitled to receive, when, as and if declared
by the Board of Directors out of funds legally available for the purpose,
quarterly dividends payable in cash on the 15th day of January, April, July and
October in each year (each such date being referred to herein as a "Quarterly
Dividend Payment Date"), commencing on the first Quarterly Dividend Payment Date
after the first issuance of a share or fraction of a share of Series A Preferred
Stock, in an amount per share (rounded to the nearest cent) equal to the greater
of (a) $0.25 or (b) subject to the provision for adjustment hereinafter set
forth, 100 times the aggregate per share amount of all cash dividends, and 100
times the aggregate per share amount (payable in kind) of all non-cash dividends
or other distributions other than a dividend payable in shares of Common Stock
or a subdivision of the outstanding shares of Common Stock (by reclassification
or otherwise), declared on the Common Stock, par value $1.00 per share, of the
Corporation (the "Common Stock") since the immediately preceding Quarterly
Dividend Payment Date, or, with respect to the first Quarterly Dividend Payment
Date, since the first issuance of any share or fraction of a share of Series A
Preferred Stock. In the event the Corporation shall at any time after November
10, 1988 (the "Rights Declaration Date") (i) declare any dividend on Common
Stock payable in shares of Common Stock, (ii) subdivide the outstanding Common
Stock or (iii) combine the outstanding Common Stock into a smaller number of
shares, then in each such case the amount to which holders of shares of Series A
Preferred Stock were entitled immediately prior to such event under clause (b)
of the preceding sentence shall be adjusted by multiplying such amount by a
fraction the numerator of which is the number of shares of Common Stock
outstanding immediately after such event and the denominator of which is the
number of shares of Common Stock that were outstanding immediately prior to such
event.

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       (B) The Corporation shall declare a dividend or distribution on the
Series A Preferred Stock as provided in paragraph (A) above immediately after it
declares a dividend or distribution on the Common Stock (other than a dividend
payable in shares of Common Stock); provided that, in the event no dividend or
distribution shall have been declared on the Common Stock during the period
between any Quarterly Dividend Payment Date, a dividend of $0.25 per share on
the Series A Preferred Stock shall nevertheless by payable on such subsequent
Quarterly Dividend Payment Date.

       (C) Dividends shall begin to accrue and be cumulative on outstanding
shares of Series A Preferred Stock from the Quarterly Dividend Payment Date next
preceding the date of issue of such shares of Series A Preferred Stock, unless
the date of issue of such shares is prior to the record date for the first
Quarterly Dividend Payment Date, in which case dividends on such shares shall
begin to accrue from the date of issue of such shares, or unless the date of
issue of Quarterly Dividend Payment Date or is a date after the record date for
the determination of holders of shares of Series A Preferred Stock entitled to
receive a quarterly dividend and before such Quarterly Dividend Payment Date, in
either of which events such dividends shall not bear interest. Dividends paid on
the shares of Series A Preferred Stock in an amount less than the total amount
of such dividends at the time accrued and payable on such shares shall be
allocated pro rate on share-by-share basis among all such shares at the time
outstanding. The Board of Directors may fix a record date for the determination
of holders of shares of Series A Preferred Stock entitled to receive payment of
a dividend or distribution declared thereon, which record date shall be no more
than 30 days prior to the date fixed for the payment thereof.

       Section 3. VOTING RIGHTS. The holders of shares of Series A Preferred
Stock shall have the following voting rights:

       (A) Subject to the provision for adjustment hereinafter set forth, each
share of Series A Preferred Stock shall entitle the holders thereof to 100 votes
on all matters submitted to a vote of the stockholders of the Corporation. In
the event the Corporation shall at any time after the Rights Declaration Date
(i) declare any dividend on Common Stock payable in shares of Common Stock, (ii)
subdivide the outstanding Common Stock, or (iii) combine the outstanding Common
Stock into a smaller number of shares, then in each case the number of votes per
share to which holders of shares of Series A Preferred Stock were entitled
immediately prior to such event shall be adjusted by multiplying such number by
a fraction the numerator of which is the number of shares of Common Stock
outstanding immediately after such event and the denominator of which is the
number of shares of Common Stock that were outstanding immediately prior to such
event.

       (B) Except as otherwise provided herein or by law, the holders of shares
of Series A Preferred Stock and the holders of shares of Common Stock shall vote
together as one class in all matters submitted to a vote of stockholders of the
Corporation.

       (C) (i) If at any time dividends on any Series A Preferred Stock shall be
in arrears in an amount equal to six (6) quarterly dividends thereon, the
occurrence of such contingency shall mark the beginning of a period (herein
called a "default period") which shall extend until such time when all accrued
and unpaid dividends for all previous quarterly dividend periods and for the
current quarterly dividend period on all shares of Series A Preferred Stock then
outstanding shall have been declared and paid or set apart for payment. During
each default period, all holders of Preferred Stock (including holders of the
Series A Preferred Stock) with dividends in arrears in an amount equal to six
(6) quarterly dividends thereon, voting as a class, irrespective of series,
shall have the right to elect two (2) Directors.

       (ii) During any default period, such voting right of the holders of
Series A Preferred Stock may be exercised initially at a special meeting called
pursuant to subparagraph (iii) of the Section 2(C) or at any annual meeting of
stockholders, and thereafter at annual meetings of stockholders, provided that
neither such voting right nor the right of the holders of any other series of
Preferred Stock, if any, to increase, in certain cases, the authorized number of
Directors shall be exercised unless the holders of ten percent (10%) in number
of shares of Preferred Stock outstanding shall be present in person or by proxy.
The absence of a quorum of the holders of Common Stock shall not affect the
exercise by the holders of Preferred Stock of

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such voting right. At any meeting at which the holders of Preferred Stock shall
exercise such voting right initially during an existing default period, they
shall have the right, voting as a class, to elect Directors to fill such
vacancies, if any, in the Board of Directors or may then exist up to two (2)
Directors or, if such right is exercised at an annual meeting, to elect two (2)
Directors. If the number which may be so elected at any special meeting does not
amount to the required number, the holders of the Preferred Stock shall have the
right to make such increase in the number of Directors a shall be necessary to
permit the election by them of the required number. After the holders of the
Preferred Stock shall have exercised their right to elect Directors in any
default period and during the continuance of such period, the number of
Directors shall not be increased or decreased except by vote of the holders of
Preferred Stock herein provided or pursuant to the rights of any equity
securities ranking senior to or PARI PASSU with the Series A Preferred Stock.

       (iii) Unless the holders of Preferred Stock shall, during an existing
default period, have previously exercised their right to elect Directors, the
Board of Directors may order, or any stockholder or stockholders owning in the
aggregate not less than ten percent (10%) of the total number of shares of
Preferred Stock, outstanding, irrespective of series, may request the calling of
special meeting of the holders of Preferred Stock, which meeting shall thereupon
be called by the President, a Vice-President or the Secretary of the
Corporation. Notice of such meeting and of any annual meeting at which holders
of Preferred Stock are entitled to vote pursuant to this paragraph C (iii) shall
be given to each holder of record of Preferred Stock by mailing a copy of such
notice to him at his last address as the same appears on the books of the
Corporation. Such meeting shall be called for a time not earlier than 20 days
and not later than 60 days after such order or request or in default of the
calling of such meeting within 60 days after such order or request or in default
of the calling of such meeting within 60 days after such order or request, such
meeting may be called on similar notice by any stockholder or stockholders
owning in the aggregate not less than ten percent (10%) of the total number of
shares of Preferred Stock outstanding. Notwithstanding the provisions of this
paragraph (C) (iii), no such special meeting shall be called during the period
within 60 days immediately preceding the date fixed for the next annual meeting
of the stockholders.

       (iv) In any default period, the holders of Common Stock, and other
classes of stock of the Corporation if applicable, shall continue to be entitled
to elect the whole number of Directors until the holders of Preferred Stock
shall have exercised their right to elect two (2) Directors voting as a class,
after the exercise of which right (x) the Directors so elected by the holders of
Preferred Stock shall continue in office until their successors shall have been
elected by such holders or until the expiration of the default period and (y)
any vacancy in the Board of Directors may (except as provided in paragraph (C)
(ii) of this Section 3) be filled by vote of a majority of the remaining
Directors theretofore elected by the holders of the class of stock which elected
the Directors whose office shall have become vacant. References in this
paragraph (C) to Directors elected by the holders of a particular class of stock
shall include Directors elected by such Directors to fill vacancies as provided
in clause (y) of the foregoing sentence.

       (v) Immediately upon the expiration of a default period, (x) the right of
the holders of Preferred Stock as a class to elect Directors shall cease, (y)
the term of any Directors elected by the holders of Preferred Stock as a class
shall terminate, and (z) the number of Directors shall be such number as may be
provided for in the certificate of incorporation or by-laws irrespective of any
increase made pursuant to provisions of paragraph (C) (ii) of this Section 3
(such number being subject, however, to change thereafter in any manner provided
by law or in the certificate of incorporation or by-laws). Any vacancies in the
Board of Directors affected by the provisions of clauses (y) and (z) in the
preceding sentence may be filled by a majority of the remaining Directors.

       (D) Except as set forth herein, holders of Series A Preferred Stock shall
have no special voting rights and their consent shall not be required (except to
the extent they are entitled to vote with holders of Common Stock as set forth
herein) for taking any corporate action.

       Section 4.  CERTAIN RESTRICTIONS.

       (A) Whenever quarterly dividends or other dividends or distributions
payable on the Series A Preferred Stock as provided in Section 2 are in arrears,
thereafter and until all accrued and unpaid dividends

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and distributions, whether or not declared, on shares of Series A Preferred
Stock outstanding shall have been paid in full, the Corporation shall not

                  (i) declare or pay dividends on, make any other distribution
       on, or redeem or purchase or otherwise acquire for consideration any
       shares of stock ranking junior (either as to dividends or upon
       liquidation, dissolution or winding up) to the Series A Preferred Stock;

                  (ii) declare or pay dividends on or make any other
       distributions on any shares of stock ranking on a parity (either as to
       dividends or upon liquidation, dissolution or winding up) with the Series
       A Preferred Stock, except dividends paid ratably on the Series A
       Preferred Stock and all such parity stock on which dividends are payable
       or in arrears in proportion to the total amounts to which the holders of
       all such shares are then entitled;

                  (iii) redeem or purchase or otherwise acquire for
       consideration shares of any stock ranking on a parity (either as to
       dividends or upon liquidation, dissolution or winding up) with the Series
       A Preferred Stock, provided that the Corporation may at any time redeem,
       purchase or otherwise acquire shares of any such parity stock in exchange
       for shares of any stock of the Corporation ranking junior (either as to
       dividends or upon dissolution, liquidation or winding up) to the Series A
       Preferred Stock;

                  (iv) purchase or otherwise acquire for consideration any
       shares of Series A Preferred Stock, or any shares of stock ranking on a
       parity with the Series A Preferred Stock, except in accordance with a
       purchase offer made in writing or by publication (as determined by the
       Board of Directors) to all holders of such shares upon such terms as the
       Board of Directors, after consideration of the respective annual dividend
       rates and other relative rights and preferences of the respective series
       and classes, shall determine in good faith will result in fair and
       equitable treatment among the respective series or classes.

       (B) The Corporation shall not permit any subsidiary of the Corporation to
purchase or otherwise acquire for consideration any shares of stock of the
Corporation unless the Corporation could, under paragraph (A) of this Section 4,
purchase or otherwise acquire such shares at such time and in such manner.

       Section 5. REACQUIRED SHARES. Any shares of Series A Preferred Stock
purchased or otherwise acquired by the Corporation in any manner whatsoever
shall be retired and cancelled promptly after the acquisition thereof. All such
shares shall upon their cancellation become authorized by unissued shares of
Preferred Stock and may be reissued as part of a new series of Preferred Stock
to be created by resolution or resolutions of the Board of Directors, subject to
the conditions and restrictions on issuance set forth herein.

       Section 6. LIQUIDATION, DISSOLUTION OR WINDING UP. (A) Upon any
liquidation (voluntary or otherwise), dissolution or winding up of the
Corporation, no distribution shall be made to the holders of shares of stock
ranking junior (either as to dividends or upon liquidation, dissolution or
winding up) to the Series A Preferred Stock unless, prior thereto, the holders
of shares of Series A Preferred Stock shall have received $100 per share, plus
an amount equal to accrued and unpaid dividends and distributions thereon,
whether or not declared, to the date of such payment (the "Series A Liquidation
Preference"). Following the payment of the full amount of the Series A
Liquidation Preference, no additional distributions shall be made to the holders
of shares of Series A Preferred Stock unless, prior thereto, the holders of
shares of Common Stock shall have received an amount per share (the "Common
Adjustment") equal to the quotient obtained by dividing (i) the Series A
Liquidation Preference by (ii) 100 (as appropriately adjusted as set forth in
subparagraph C below to reflect such events as stock splits, stock dividends and
recapitalizations with respect to the Common Stock) (such number in clause (ii),
the "Adjustment Number"). Following the payment of the full amount of the Series
A Liquidation Preference and the Common Adjustment in respect of all outstanding
shares of Series A Preferred Stock and Common Stock, respectively, holders of
Series A Preferred Stock and holders of shares of Common Stock shall receive
their ratable and proportionate share of remaining assets to be distributed in
the ratio of the Adjustment Number to 1 with respect to such Preferred Stock and
Common Stock, as a per share bases, respectively.

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       (B) In the event, however, that there are not sufficient assets available
to permit payment in full of the Series A Liquidation Preference and the
liquidation preferences of all other series of Preferred Stock, if any, which
rank on a parity with the Series A Preferred Stock, then such remaining assets
shall be distributed ratably to the holders of such parity shares in properties
to their respective liquidation preferences. In the event, however, that there
are not sufficient assets available to permit payment in full of the Common
Adjustment, then such remaining assets shall be distributed ratably to the
holder of Common Stock.

       (C) In the event the Corporation shall at any time after the Rights
Declaration Date (i) declare any dividend on Common Stock payable in shares of
Common Stock, (ii) subdivide the outstanding Common Stock, or (iii) combine the
outstanding Common Stock into a smaller number of shares, then in each such case
the Adjustment Number in effect immediately prior to such event shall be
adjusted by multiplying such Adjustment Number by a fraction the numerator of
which is the number of shares of Common Stock outstanding immediately after such
event and the denominator of which is the number of shares of Common Stock that
were outstanding immediately prior to such event.

       Section 7. CONSOLIDATION, MERGER, ETC. In case the Corporation shall
enter into any consolidation, merger, combination or other transaction in which
the shares of Common Stock are exchanged for or changed into other stock or
securities, cash and/or any other property, then in any such case the shares of
Series A Preferred Stock shall at the same time be similarly exchanged or
changed in an amount per share (subject to the provision for adjustment
hereinafter set forth) equal to 100 times the aggregate amount of stock,
securities, cash and/or any other property (payable in kind), as the case may
be, into which or for which each share of Common Stock is changed or exchanged.
In the event the Corporation shall at any time after the Rights Declaration Date
(i) declare any dividend on Common Stock payable in shares of Common Stock, (ii)
subdivide the outstanding Common Stock, (iii) combine the outstanding Common
Stock into a smaller number of shares, then in each such case the amount set
forth in the preceding sentence with respect to the exchange or change of shares
of Series A Preferred Stock shall be adjusted by multiplying such amount by a
fraction the numerator of which is the number of shares of Common Stock
outstanding immediately after such event and the denominator of which is the
number of shares of Common Stock that were outstanding immediately prior to such
event.

       Section 8. NO REDEMPTIONS. The shares of Series A Preferred Stock shall
not be redeemable.

       Section 9. RANKING. The Series A Preferred Stock shall rank junior to all
other series of the Corporation's Preferred Stock, if any, as to the payment of
dividends and the distribution of assets, unless the terms of any such series
shall provide otherwise.

       Section 10. AMENDMENT. The Certificate of Incorporation of the
Corporation shall not be further amended in any manner which would materially
alter or change the powers, preferences or special rights of the Series A
Preferred Stock so as to affect them adversely without the affirmative vote of
the holders of a majority or more of the outstanding shares of Series A
Preferred Stock, voting separately as a class.

       Section 11. FRACTIONAL SHARES. Series A Preferred Stock may be issued in
fractions of a share, which shall entitle the holder, in proportion to such
holder's fractional shares, to exercise voting rights, receive dividends,
participate in distributions and to have the benefit of all other rights of
holders of Series A Preferred Stock.

       IN WITNESS HEREOF, we have executed and subscribed this Certificate and
do affirm the foregoing as true under the penalties of perjury this 11th day of
November 1988.

                                               ---------------------------------
                                               Glenn F. Kummer
                                                 President

Attest:

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----------------------
William H. Lear
Secretary

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                                State of Delaware

                        Office of the Secretary of State
                        --------------------------------

       I, HARRIET SMITH WINDSOR, SECRETARY OF STATE OF THE STATE OF DELAWARE, DO
HEREBY CERTIFY THE ATTACHED IS A TRUE AND CORRECT COPY OF THE CERTIFICATE OF
DESIGNATION OF "FLEETWOOD ENTERPRISES, INC.", FILED IN THIS OFFICE ON THE
TWENTY-THIRD DAY OF NOVEMBER, A.D. 1988, AT 9 O'CLOCK A.M.

                                      /s/ Harriet Smith Windsor
                                      -----------------------------------------
                                      Harriet Smith Windsor, Secretary of State.

                                                         AUTHENTICATION: 0927419

                                                                  DATE: 01-22-01<Page>

                                                                   EXHIBIT 10(a)

                              EMPLOYMENT AGREEMENT

         This Employment Agreement (this "Agreement") is effective as of
_________ __, 2001 (the "Effective Date"), and is entered into by and between ,
an individual ("Executive"), and [Fleetwood Enterprises, Inc.], a Delaware
corporation (the "Company").

                                 R E C I T A L S

         WHEREAS, the Company has determined that it is in its best interests to
implement a new compensation program to compensate certain of its employees on a
more competitive basis and thereby encourage such employees to further the
interests of the Company and its stockholders, which program shall be effective
as of the Company's fiscal year beginning May 1, 2001 (the "New Compensation
Program");

         WHEREAS, the Company desires that Executive participate in the New
Compensation Program by entering into this Agreement and Executive desires to
participate in the New Compensation Program by entering into this Agreement; and

         WHEREAS, by entering into this Agreement, the terms of Executive's
employment with the Company shall be governed by the terms and conditions of
this Agreement and any prior agreement between Executive and the Company or any
of the Company's affiliated entities relating to Executive's employment with the
Company or any of its affiliated entities shall be superseded by the terms of
this Agreement except to the extent set forth herein.

         NOW, THEREFORE, in consideration of the recitals set forth above, and
for other good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged by the parties hereto, the parties hereto agree as
follows:

                                A G R E E M E N T

         1. EMPLOYMENT. As of the Effective Date, the Company hereby employs
Executive to serve in the capacity of [Title] ("[Title]"). The Company's Board
of Directors (the "Board") and/or the Company's Chief Executive Officer (the
"CEO") may provide such additional designations of title to Executive as the
Board [and/or CEO], in its discretion, may deem appropriate.

         Executive agrees to perform the executive duties and functions
customarily associated with the office of [Title] and as specified from time to
time by the Board [and/or the CEO]. Except for legal holidays, vacations and
absences due to temporary illness, Executive shall devote his time, attention
and energies to the business of the Company on a full-time basis. Executive
represents and warrants to the Company that he is under no restriction,
limitation or other prohibition to perform his duties as described herein.

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         2.       EMPLOYMENT COMPENSATION AND BENEFITS.

                  (a) BASE SALARY. Executive's initial base salary shall be at
         the annual rate of _________________________ Dollars ($____________)
         (the "Base Salary"), which be payable at least as frequently as monthly
         and subject to deductions and withholdings required by applicable law
         and as customary in respect of the Company's salaried employees. This
         salary level shall be reviewed at least annually by the Board's
         Compensation Committee on the basis of Executive's performance and the
         Company's financial success and progress.

                  (b) INCENTIVE COMPENSATION. As additional compensation to
         provide incentives for Executive to extend efforts which will assist in
         increasing the profits of the Company, Executive shall be eligible to
         receive incentive compensation in accordance with the terms and
         conditions of the Company's Senior Executive Incentive Compensation
         Plan, as such plan has been established by the Company and as may be
         modified from time to time (the "Plan"). A copy of the Plan has been
         delivered to Executive along with this Agreement and the Company shall
         provide Executive with a copy of any revisions to the Plan when such
         revisions become effective. Executive's participation in the Plan and
         the number of participant points granted under the Plan are subject to
         adjustment by the Board's Compensation Committee at such Committee's
         discretion.

                  (c) VACATION. Executive shall be entitled to annual vacations
         in a manner commensurate with his status as a key executive and in
         accordance with the Company's vacation policies in effect during the
         term of this Agreement.

                  (d) EXPENSE REIMBURSEMENT. The Company shall reimburse
         Executive for all reasonable amounts actually expended by Executive in
         the course of performing his duties for the Company and in accordance
         with any Company-established guidelines where Executive tenders
         receipts or other documentation reasonably substantiating the amounts
         as required by the Company.

                  (e) OTHER BENEFITS. Except as otherwise provided in this
         Agreement, Executive shall be entitled to receive all of the rights,
         benefits and privileges of an executive officer of the Company under
         any retirement, pension, profit-sharing, group medical insurance, group
         dental insurance, group-term life insurance, disability insurance and
         other similar employee benefit plan or program which may be now in
         effect or hereafter adopted, to the extent that Executive is eligible
         under the provisions thereof.

         3.       TERMINATION.

                  (a) AT WILL. The Company shall employ Executive at will, and
         either Executive or the Company may terminate Executive 's employment
         with the Company at any time and for any reason, with or without cause.

                  (b) SEVERANCE PAYMENT AND BENEFITS. If Executive 's employment
         is terminated as a result of a Qualifying Termination, as defined
         below, and if Executive delivers a fully executed release and waiver of
         all claims against the Company in the

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         form attached hereto as EXHIBIT A (the "Release Agreement"), then, upon
         expiration of any applicable revocation period contained in the Release
         Agreement, the Company shall pay or provide Executive the following
         severance payment and benefits:

                           (i) Executive shall receive the Severance Payment, as
                  defined below, which shall be payable in equal monthly
                  installments beginning on the first day of the first full
                  month and continuing on the first day of each month thereafter
                  during the Severance Period. The Severance Payment is in lieu
                  of any severance payment benefits which otherwise may at that
                  time be available under the Company's applicable policies;
                  PROVIDED, HOWEVER, that nothing in this Agreement is intended
                  to modify or supersede the Agreement re: Change In Control
                  entered into between Executive and the Company as of ________,
                  2001 (the "Agreement re: Change In Control"), and Executive
                  shall be entitled to receive whatever additional severance pay
                  benefits, if any, for which he may qualify according to the
                  terms of the Agreement re: Change in Control.

                           As used herein, "Severance Payment" shall mean that
                  amount equal to the product of (A) the number of full months
                  immediately before the date of Executive's Qualifying
                  Termination during which Executive has been continuously
                  employed by the Company as a senior executive officer of the
                  Company or any of its affiliated companies, up to a maximum of
                  twelve (12) months (the "Measuring Period") and (B) the
                  average monthly amount of Executive's Base Salary plus all
                  bonuses and incentive compensation payments paid to Executive,
                  as averaged over the Measuring Period. Any Severance Payment
                  shall be subject to deductions and withholdings required by
                  applicable law and shall be reduced by an amount equal to the
                  incentive payments, if any, that become payable in connection
                  with the Qualifying Termination. As used herein, "Severance
                  Period" shall mean that period beginning upon Executive's
                  Qualifying Termination and ending upon the lapse thereafter of
                  that number of months equal to the Measuring Period.

                           (ii) During the Severance Period and to the extent
                  reasonably practicable, Executive shall be entitled to receive
                  benefits comparable to those which had been made available to
                  him (including his family) before the Qualifying Termination:
                  group medical insurance, group dental insurance, group-term
                  life insurance and disability insurance. These benefits shall
                  be provided at no cost to Executive, except to the extent that
                  tax rules require the inclusion of the value of such benefits
                  in Executive's income. To the extent reasonably practicable,
                  these benefits shall be continued in a comparable manner and
                  at a comparable level as immediately prior to the Qualifying
                  Termination. The provision of these benefits shall be earlier
                  terminated or reduced, as applicable, if and to the extent
                  Executive receives comparable benefits as a result of
                  concurrent coverage through another program.

                           (iii) Any and all of Executive's unvested stock
                  options shall immediately become fully vested and exercisable.
                  Notwithstanding anything to the contrary contained in the
                  equity incentive plan(s) pursuant to which such

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                  options were granted, any options that vest and become
                  exercisable pursuant to this Section 3(b)(iii) shall expire
                  sixty (60) days after the Qualifying Termination.

                  (c) QUALIFYING TERMINATION. Executive 's termination shall be
         considered a "Qualifying Termination" unless:

                           (i) Executive voluntarily terminates his employment
                  with the Company and its affiliated companies. Executive,
                  however, shall NOT be considered to have voluntarily
                  terminated his employment with the Company and its affiliated
                  companies if his overall compensation is reduced or adversely
                  modified in any material respect or his authority or duties
                  are materially changed and he elects to terminate his
                  employment within sixty (60) days following such reduction,
                  modification or change. For the purposes of this subparagraph,
                  Executive's authority or duties shall be considered to have
                  been "materially changed" if, without Executive's express and
                  voluntary written consent, there is any substantial diminution
                  or adverse modification in his title, status, overall
                  position, responsibilities, reporting relationship, general
                  working environment (including without limitation secretarial
                  and staff support, offices, and frequency and mode of travel),
                  or if, without Executive's express and voluntary written
                  consent, his job location is transferred to a site more than
                  fifty (50) miles away from his place of employment.

                           (ii) The termination is on account of Executive's
                  death or Disability. For such purposes, "Disability" shall
                  mean a physical or mental incapacity as a result of which
                  Executive becomes unable to continue the performance of his
                  responsibilities for the Company and its affiliated companies
                  and which, at least three (3) months after its commencement,
                  is determined to be total and permanent by a physician agreed
                  to by the Company and Executive, or in the event of
                  Executive's inability to designate a physician, his legal
                  representative. In the absence of agreement between the
                  Company and Executive, each party shall nominate a qualified
                  physician and the two physicians so nominated shall select a
                  third physician who shall make the determination as to
                  Disability.

                           (iii) Executive is involuntarily terminated for
                  "Cause." For this purpose, "Cause" shall be limited to only
                  three types of events:

                                    (A) Executive's refusal to comply with a
                           lawful, written instruction of the Board or
                           Executive's immediate supervisor, which refusal is
                           not remedied by Executive within a reasonable period
                           of time after his receipt of written notice from the
                           Company identifying the refusal, so long as the
                           instruction is consistent with the scope and
                           responsibilities of Executive's position;

                                    (B) Executive's act or acts of personal
                           dishonesty which were intended to result in
                           Executive's substantial personal enrichment at the
                           expense of the Company or any of its affiliated
                           companies; or

                                       4
<Page>

                                    (C) Executive's conviction of any
                           misdemeanor involving an act of moral turpitude or
                           any felony.

                           (iv) Executive ceases to be employed by the Company
                  due to the sale or acquisition of all of the equity interests
                  in, or substantially all of the assets of, a subsidiary or
                  division of the Company with which Executive is affiliated, or
                  in connection with the merger of such a subsidiary or
                  division, and this Agreement is assumed in writing by such
                  acquiring or surviving person or entity or an affiliate
                  thereof.

                           (v) Notwithstanding anything in this Section 3(c) to
                  the contrary, if the Company relocates its principal
                  operational or executive headquarters and Executive is
                  transferred, or requested to transfer, to such headquarters,
                  then if Executive elects to terminate his employment because
                  of such a transfer or request to transfer, such termination
                  shall not be deemed a Qualifying Termination regardless of
                  whether such new headquarters is located more than fifty (50)
                  miles from the location of Executive's then-current place of
                  employment.

                  (d) RETURN OF MATERIALS. In the event of any termination of
         Executive's employment for any reason whatsoever, Executive shall
         promptly deliver to the Company all Company property, including, but
         not limited to, documents, data, and other information pertaining to
         Confidential Information, as defined below. Executive shall not take
         with him any documents or other information, or any reproduction,
         summary or excerpt thereof, containing or pertaining to any
         Confidential Information.

         4. NONDISCLOSURE OF CONFIDENTIAL INFORMATION. Executive acknowledges
that during the term of his employment with the Company, he will have access to
and become acquainted with information of a confidential, proprietary or secret
nature which is or may be either applicable to, or related in any way to, the
present or future business of the Company, the research and development or
investigation of the Company, or the business of any customer of the Company
("Confidential Information"). For example, Confidential Information includes,
but is not limited to, devices, secret inventions, processes and compilations of
information, records, specifications, designs, plans, proposals, software,
codes, marketing and sales programs, financial projections, cost summaries,
pricing formula, and all concepts or ideas, materials or information related to
the business, products or sales of the Company and its customers and vendors.
Executive shall not disclose any Confidential Information, directly or
indirectly, or use such information in any way, either during the term of this
Agreement or at any time thereafter, except as required in the course of
employment with the Company. Executive also agrees to comply with the Company's
policies and regulations, as established from time to time for the protection of
its Confidential Information, including, for example, executing the Company's
standard confidentiality agreements. This section shall survive termination of
this Agreement.

         5. NON-SOLICITATION. Executive agrees that so long as he is employed by
the Company and for a period of twelve (12) months after termination of his
employment for any reason, he shall not (a) directly or indirectly solicit,
induce or attempt to solicit or induce any employee of the Company or any of its

                                       5
<Page>

affiliated companies to discontinue his or her employment with the Company; (b)
usurp any opportunity of the Company or any of its affiliated companies of which
Executive became aware during his tenure at the Company or which is made
available to him on the basis of the belief that Executive is still employed by
the Company; or (c) directly or indirectly solicit or induce or attempt to
influence any person or business that is an account, customer or client of the
Company or any of its affiliated companies to restrict or cancel the business of
any such account, customer or client with the Company or any of its affiliated
companies. This section shall survive termination of this Agreement.

         6. SUCCESSORS.

            (a)     This Agreement is personal to Executive, and without the
         prior written consent of the Company shall not be assignable by
         Executive other than by will or the laws of descent and distribution.
         This Agreement shall inure to the benefit of and be enforceable by
         Executive 's legal representatives.

            (b)     The rights and obligations of the Company under this
         Agreement shall inure to the benefit of and shall be binding upon the
         successors and assigns of the Company.

         7. GOVERNING LAW. This Agreement is made and entered into in the State
of California, and the internal laws of California shall govern its validity and
interpretation in the performance by the parties hereto of their respective
duties and obligations hereunder.

         8. MODIFICATIONS. This Agreement may be amended or modified only by an
instrument in writing executed by all of the parties hereto.

         9. ENTIRE AGREEMENT. Except as otherwise set forth herein, this
Agreement, together with the exhibits attached hereto, supersedes any and all
prior written or oral agreements between Executive and the Company, including,
without limitation, that [Employment Contract] dated as of          , 2000. This
Agreement contains the entire understanding of the parties hereto with respect
to the terms and conditions of Executive's employment with the Company;
PROVIDED, HOWEVER, that this Agreement is not intended to supersede the
Agreement re: Change in Control, or any agreements which Executive may
previously have entered into regarding the protection of trade secrets and
confidential information.

                                       6
<Page>

         10. DISPUTE RESOLUTION.

             (a)     Any controversy or dispute between the parties involving
         the construction, interpretation, application or performance of the
         terms, covenants, or conditions of this Agreement or in any way arising
         under this Agreement (a "Covered Dispute") shall, on demand by either
         of the parties by written notice served on the other party in the
         manner prescribed in Section 11 hereof, be referenced pursuant to the
         procedures described in California Code of Civil Procedure ("CCP")
         Sections 638, ET SEQ., as they may be amended from time to time (or
         such procedures as nearly the same as may be available under the laws
         of California, the "Reference Procedures"), to a retired Judge from the
         superior court of California for the County of Riverside (the "Venue
         County") for a decision.

             (b)     The Reference Procedures shall be commenced by either
         party by the filing in the superior court of Venue County a petition
         pursuant to CCP Section 638(1) (or such procedures as nearly the same
         as may be available under the laws of California, a "Petition"). Said
         Petition shall designate as a referee a Judge from the list of retired
         superior court Judges from the Venue County who have made themselves
         available for trial or settlement of civil litigation under said
         Reference Procedures. If the parties hereto are unable to agree on the
         designation of a particular retired superior court Judge of the Venue
         County, or the designated Judge is unavailable or unable to serve in
         such capacity, request shall be made in said Petition that the
         Presiding or Assistant Presiding Judge of the superior court of the
         Venue County appoint as referee a retired superior court Judge from the
         aforementioned list.

             (c)     Except as hereafter agreed by the parties, the referee
         shall apply the internal law of the State of California in deciding the
         issues submitted hereunder. Unless formal pleadings are waived by
         agreement among the parties and the referee, the moving party shall
         file and serve its complaint within fifteen (15) days from the date a
         referee is designated as provided herein, and the other party shall
         have fifteen (15) days thereafter in which to plead to said complaint.
         Each of the parties reserves its respective rights to allege and assert
         in such pleadings all claims, causes of action, contentions and
         defenses which it may have arising out of or relating to the general
         subject matter of the Covered Dispute that is being determined pursuant
         to the Reference Procedures. Reasonable notice of any motions before
         the referee shall be given, and all matters shall be set at the
         convenience of the referee. Discovery shall be conducted as the parties
         agree or as allowed by the referee. Unless waived by each of the
         parties, a reporter shall be present at all proceedings before the
         referee.

             (d)     It is the parties' intention by this Section 10 that all
         issues of fact and law and all matters of a legal and equitable nature
         related to any Covered Dispute will be submitted for determination by a
         referee designated as provided herein. Accordingly, the parties hereby
         stipulate that a referee designated as provided herein shall have all
         powers of a Judge of the superior court including, without limitation,
         the power to grant equitable and interlocutory and permanent injunctive
         relief.

             (e)     Each of the parties specifically (i) consents to the
         exercise of jurisdiction over his person by a referee designated as
         provided herein with respect to any and all

                                       7
<Page>

         Covered Disputes; and (ii) consents to the personal jurisdiction of the
         California courts with respect to any appeal or review of the decision
         of any such referee.

             (f)     Each of the parties acknowledges that the decision by a
         referee designated as provided herein shall be a basis for a judgment
         as provided in CCP Section 644 and shall be subject to exception and
         review as provided in CCP Section 645, or such procedures as nearly the
         same as may be available under the laws of California.

             (g)     The Company shall pay all fees and costs incurred by
         Executive in connection with the Reference Procedures for a Covered
         Dispute other than attorneys' fees incurred by Executive.

         11. NOTICES. Any notice or communications required or permitted to be
given to the parties hereto shall be delivered personally or be sent by United
States registered or certified mail, postage prepaid and return receipt
requested, and addressed or delivered as follows, or at such other addresses the
party addressed may have substituted by notice pursuant to this Section:

             To the Company:                        To Executive:

             Fleetwood Enterprises, Inc.            ----------------------------
             3125 Myers Street                      Home Address
             Riverside, California  92503-5527      City, State, Zip
             Attn:  General Counsel

         12. CAPTIONS. The captions of this Agreement are inserted for
convenience and do not constitute a part hereof.

         13. SEVERABILITY. In case any one or more of the provisions contained
in this Agreement shall for any reason be held to be invalid, illegal or
unenforceable in any respect, such invalidity, illegality or unenforceability
shall not affect any other provision of this Agreement, but this Agreement shall
be construed as if such invalid, illegal or unenforceable provision had never
been contained herein and there shall be deemed substituted for such invalid,
illegal or unenforceable provision such other provision as will most nearly
accomplish the intent of the parties to the extent permitted by the applicable
law. In case this Agreement, or any one or more of the provisions hereof, shall
be held to be invalid, illegal or unenforceable within any governmental
jurisdiction or subdivision thereof, this Agreement or any such provision
thereof shall not as a consequence thereof be deemed to be invalid, illegal or
unenforceable in any other governmental jurisdiction or subdivision thereof.

         14. COUNTERPARTS. This Agreement may be executed in two or more
counterparts, each of which shall be deemed an original, but all of which shall
together constitute one in the same Agreement.

                                       8
<Page>

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

                               -----------------------------
                               [Name of Executive]

                               [FLEETWOOD ENTERPRISES, INC.,]
                               a Delaware corporation

                               By:
                                  ---------------------------------------------

                                  Name:
                                       ----------------------------------------

                                  Title:
                                        ---------------------------------------

                                       9
<Page>

                                    EXHIBIT A

                                RELEASE AGREEMENT

         I, ________________________, hereby enter into this Release Agreement
(this "Agreement"), pursuant to Paragraph 3(b) of my Employment Agreement with
[Fleetwood Enterprises, Inc.], a Delaware corporation (the "Company"), in
consideration for which the Company shall make the Severance Payment as
described in my Employment Agreement entered into effective as of __________,
2001.

         1. The date of my Qualifying Termination is _________________, and I
have received a final paycheck for all wages due, including all accrued
vacation, through that date. Other than the Severance Payment as described in my
Employment Agreement and whatever additional severance pay benefits, if any, for
which I may qualify according to the terms of my Agreement re: Change in Control
with the Company, the foregoing payments are the only amounts which I am
entitled to receive from the Company, and I hereby waive all other payments or
claims for payments.

         2. As consideration for the Severance Payment as described in my
Employment Agreement, I hereby release the Company, its successors, affiliates,
directors, employees and agents from any and all claims or lawsuits (including,
for example, equal employment claims, wrongful discharge claims and claims for
age discrimination under the Age Discrimination in Employment Act) which I may
have based either on my employment, my termination, or any other event occurring
prior to the date of this Agreement. This Release is intended to settle any and
all claims that I may have against the Company. Accordingly, I waive any and all
rights conferred under [Section 1542 of the California Civil Code], which
provides: ["A general release does not extend to claims which the creditor does
not know or suspect to exist in his favor at the time of executing the release
which if known by him must have materially affected his settlement with the
debtor."]

         3. I acknowledge and understand my continuing obligation (a) to
maintain the confidentiality of the Company's trade secrets and other
confidential and proprietary information and (b) not to solicit the Company's
customers or employees, as set forth in Paragraphs 4 and 5 of my Employment
Agreement. I also warrant and represent that I have returned all Company
materials as required in Paragraph 3(d) of my Employment Agreement.

         4. I acknowledge that I fully understand my right to discuss this
Agreement with an attorney, and I have carefully read and fully understand this
entire Agreement, and I am entering into this Agreement voluntarily.

<Page>

         5. I understand that I shall have twenty-one (21) days from the date of
receipt of this Agreement to consider this Agreement, I shall have seven (7)
days following the signing of this Agreement to revoke it in writing, and this
Agreement shall not be effective or enforceable until this revocation period has
expired.

Dated:
        -------------------             --------------------------------
                                        [Name of releasing party]

Dated:                                  [FLEETWOOD ENTERPRISES, INC.,]
        -------------------             a Delaware corporation

                                        By:
                                           -------------------------------------

                                           Name:
                                                --------------------------------

                                           Title:
                                                 -------------------------------

                                       2
<Page>

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