Document:

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                                                                    Exhibit 10-E

                                CHANGE IN CONTROL
                               SEVERANCE AGREEMENT

         This Agreement is made as of the ________ day of ____________________,
between Otter Tail Corporation , a Minnesota corporation, with its principal
offices at 215 South Cascade Street, P.O. Box 496, Fergus Falls, Minnesota
56538-0496 (the "Corporation ") and _____________________ ("Employee"), residing
at _____________________________.

                                WITNESSETH THAT:

         WHEREAS, this Agreement is intended to specify the financial
arrangements that the Corporation will provide to Employee upon Employee's
separation from employment with the Corporation under any of the circumstances
described herein; and

         WHEREAS, this Agreement is entered into by the Corporation in the
belief that it is in the best interests of the Corporation and its shareholders
to provide stable conditions of employment for Employee notwithstanding the
possibility, threat or occurrence of certain types of change in control, thereby
enhancing the Corporation 's ability to attract and retain highly qualified
people.

         NOW, THEREFORE, to assure the Corporation that it will have the
continued dedication of Employee notwithstanding the possibility, threat or
occurrence of a bid to take over control of the Corporation , and to induce
Employee to remain in the employ of the Corporation , and for other good and
valuable consideration, the Corporation and Employee agree as follows:

         1. Term of Agreement. The term of this Agreement shall commence on the
date hereof as first written above and shall continue through April 1, 2003;
provided that commencing on March 31, 2003 and each March 31 thereafter, the
term of this Agreement shall automatically be extended for one additional year
unless 360 days prior to March 31, the Corporation shall have given notice that
it does not wish to extend this Agreement, and provided, further, that
notwithstanding any such notice by the Corporation not to extend, this Agreement
shall continue in effect for a period of 36 months beyond the term provided
herein if a Change in Control (as defined in Section 3(i) hereof) shall have
occurred during such term.

         2. Termination of Employment.

         (i) Prior to a Change in Control. Employee's rights upon termination of
employment prior to a Change in Control (as defined in Section 3(i) hereof)
shall be governed by the Corporation 's standard employment termination policy
applicable to Employee in effect at the time of termination or the Employee's
Employment Agreement.

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         (ii) After a Change in Control.

                  (a) From and after the date of a Change in Control (as defined
in Section 3(i) hereof) during the term of this Agreement, the Corporation shall
not terminate Employee from employment with the Corporation except as provided
in this Section 2(ii) or as a result of Employee's Disability (as defined in
Section 3(iv) hereof) or death.

                  (b) From and after the date of a Change in Control (as defined
in Section 3(i) hereof) during the term of this Agreement, the Corporation shall
have the right to terminate Employee from employment with the Corporation at any
time during the term of this Agreement for Cause (as defined in Section 3(iii)
hereof), by written notice to Employee, specifying the particulars of the
conduct of Employee forming the basis for such termination.

                  (c) From and after the date of a Change in Control (as defined
in Section 3(i) hereof) during the term of this Agreement: (x) the Corporation
shall have the right to terminate Employee's employment without Cause (as
defined in Section 3(iii) hereof), at any time; and (y) Employee shall, upon the
occurrence of such a termination by the Corporation without Cause, or upon the
voluntary termination of Employee's employment by Employee for Good Reason (as
defined in Section 3(ii) hereof), be entitled to receive the benefits provided
in Section 4 hereof. Employee shall evidence a voluntary termination for Good
Reason by written notice to the Corporation given within 60 days after the date
of the occurrence of any event that Employee knows or should reasonably have
known constitutes Good Reason for voluntary termination. Such notice need only
identify Employee and set forth in reasonable detail the facts and circumstances
claimed by Employee to constitute Good Reason.

         Any notice given by Employee pursuant to this Section 2 shall be
effective five business days after the date it is given by Employee.

         3. Definitions

         (i) A "Change in Control" shall mean:

                  (a) a change in control of a nature that would be required to
be reported in response to Item 6(e) of Schedule 14A of Regulation 14A
promulgated under the Securities Exchange Act of 1934, as amended (the "Exchange
Act"), or successor provision thereto, whether or not the Corporation is then
subject to such reporting requirement;

                  (b) any "person" (as such term is used in Sections 13(d) and
14(d) of the Exchange Act) is or becomes the "beneficial owner" (as defined in
Rule 13d-3 promulgated under the Exchange Act), directly or indirectly, of
securities of the Corporation representing 35% or more of the combined voting
power of the Corporation 's then outstanding securities;

                  (c) the Continuing Directors (as defined in Section 3(v)
hereof) cease to constitute a majority of the Corporation 's Board of Directors;
provided that such change is the

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direct or indirect result of a proxy fight and contested election or elections
for positions on the Board of Directors; or

                  (d) the majority of the Continuing Directors (as defined in
Section 3(v) hereof) determine in their sole and absolute discretion that there
has been a change in control of the Corporation .

         (ii) "Good Reason" shall mean the occurrence of any of the following
events, except for the occurrence of such an event in connection with the
termination or reassignment of Employee's employment by the Corporation for
Cause (as defined in Section 3(iii) hereof), for Disability (as defined in
Section 3(iv) hereof) or for death:

                  (a) the assignment to Employee of employment responsibilities
which are not of comparable responsibility and status as the employment
responsibilities held by Employee immediately prior to a Change in Control;

                  (b) a reduction by the Corporation in Employee's base salary
as in effect immediately prior to a Change in Control;

                  (c) an amendment or modification of the Corporation 's
incentive compensation program (except as may be required by applicable law)
which affects the terms or administration of the program in a manner adverse to
the interest of Employee as compared to the terms and administration of such
program immediately prior to a Change in Control;

                  (d) the Corporation 's requiring Employee to be based anywhere
other than within 50 miles of Employee's office location immediately prior to a
Change in Control, except for requirements of temporary travel on the
Corporation 's business to an extent substantially consistent with Employee's
business travel obligations immediately prior to a Change in Control;

                  (e) except to the extent otherwise required by applicable law,
the failure by the Corporation to continue in effect any benefit or compensation
plan, stock ownership plan, stock purchase plan, stock incentive plan, bonus
plan, life insurance plan, health-and-accident plan, or disability plan in which
Employee is participating immediately prior to a Change in Control (or plans
providing Employee with substantially similar benefits), the taking of any
action by the Corporation which would adversely affect Employee's participation
in, or materially reduce Employee's benefits under, any of such plans or deprive
Employee of any material fringe benefit enjoyed by Employee immediately prior to
such Change in Control, or the failure by the Corporation to provide Employee
with the number of paid vacation days to which Employee is entitled immediately
prior to such Change in Control in accordance with the Corporation 's vacation
policy as then in effect; or

                  (f) the failure by the Corporation to obtain, as specified in
Section 6(i) hereof, an assumption of the obligations of the Corporation to
perform this Agreement by any successor to the Corporation .

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         (iii) "Cause" shall mean termination by the Corporation of Employee's
employment based upon (a) the willful and continued failure by Employee
substantially to perform Employee's duties and obligations (other than any such
failure resulting from Employee's incapacity due to physical or mental illness
or any such actual or anticipated failure resulting from Employee's termination
for Good Reason) or (b) the willful engaging by Employee in misconduct which is
materially injurious to the Corporation , monetarily or otherwise. For purposes
of this Section 3(iii), no action or failure to act on Employee's part shall be
considered "willful" unless done, or omitted to be done, by Employee in bad
faith and without reasonable belief that such action or omission was in the best
interests of the Corporation .

         (iv) "Disability" shall mean any physical or mental condition which
would qualify Employee for a disability benefit under the Corporation 's
long-term disability plan.

         (v) "Continuing Director" shall mean any person who is a member of the
Board of Directors of the Corporation , while such person is a member of the
Board of Directors, who is not an Acquiring Person (as hereinafter defined) or
an Affiliate or Associate (as hereinafter defined) of an Acquiring Person, or a
representative of an Acquiring Person or of any such Affiliate or Associate, and
who (a) was a member of the Board of Directors on the date of this Agreement as
first written above or (b) subsequently becomes a member of the Board of
Directors, if such person's nomination for election or initial election to the
Board of Directors is recommended or approved by a majority of the Continuing
Directors. For purposes of this Section 3(v): "Acquiring Person" shall mean any
"person" (as such term is used in Sections 13(d) and 14(d) of the Exchange Act)
who or which, together with all Affiliates and Associates of such person, is the
"beneficial owner" (as defined in Rule 13d-3 promulgated under the Exchange Act)
of 20% or more of the shares of Common Stock of the Corporation then
outstanding, but shall not include the Corporation , any subsidiary of the
Corporation or any employee benefit plan of the Corporation or of any subsidiary
of the Corporation or any entity holding shares of Common Stock organized,
appointed or established for, or pursuant to the terms of, any such plan; and
"Affiliate" and "Associate" shall have the respective meanings ascribed to such
terms in Rule 12b-2 promulgated under the Exchange Act.

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         4. Benefits upon Termination under Section 2(ii)(c)

         (i) Upon the termination (voluntary or involuntary) of the employment
of Employee pursuant to Section 2(ii)(c) hereof, Employee shall be entitled to
receive the benefits specified in this Section 4. The amounts due to Employee
under subparagraph (a) of this Section 4(i) shall be paid to Employee, at
Employee's election as specified in a written notice delivered by Employee to
the Corporation on the date of this Agreement and which is attached hereto as
Exhibit A and made a part hereof, either (a) in a lump sum not later than one
business day prior to the date that the termination of Employee's employment
becomes effective or (b) in 36 equal installments payable monthly, on the last
business day of the month, for 36 consecutive months following the date that the
termination of Employee's employment becomes effective. The amounts due to
Employee under subparagraphs (b), (c) and (d) of this Section 4(i) shall be paid
to Employee not later than one business day prior to the date that the
termination of Employee's employment becomes effective. Subject to the
provisions of Section 4(ii) hereof, all benefits to Employee pursuant to this
Section 4(i) shall be subject to any applicable payroll or other taxes required
by law to be withheld.

                  (a) The Corporation shall pay as severance pay to Employee an
amount equal to three times the sum of (1) Employee's highest annual rate of
salary from the Corporation in effect at any time during the 36 months preceding
the date that the termination of Employee's employment became effective and (2)
the average of the annual bonus paid or to be paid to Employee in respect of
each of the three fiscal years preceding the fiscal year when the termination of
Employee's employment became effective.

                  (b) For a period of 36 months following the date that the
termination of Employee's employment became effective or until Employee reaches
age 65 or dies, whichever is the shorter period, the Corporation shall continue
for Employee, at the Corporation 's expense, the health, disability and life
insurance coverage in effect for Employee immediately prior to the date that the
termination of Employee's employment became effective under the plans provided
by the Corporation for its executive personnel generally or, if such coverage
cannot by the terms of such plans be provided thereunder, then the Corporation
shall provide equivalent insurance coverage for Employee for such period under
specially obtained policies of insurance.

                  (c) The Corporation shall pay to Employee (1) any amount
earned by Employee as a bonus with respect to the fiscal year of the Corporation
preceding the termination of Employee's employment if such bonus has not
theretofore been paid to Employee, and (2) an amount representing credit for any
vacation earned or accrued by him but not taken.

                  (d) The Corporation shall also pay to Employee all legal fees
and expenses incurred by Employee as a result of such termination of employment
(including all fees and expenses, if any, incurred by Employee in seeking to
obtain or enforce any right or benefit provided to Employee by this Agreement
whether by arbitration or otherwise); and

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                  (e) Any and all contracts, agreements or arrangements between
the Corporation and Employee prohibiting or restricting Employee from owning,
operating, participating in, or providing employment or consulting services to,
any business or company competitive with the Corporation at any time or during
any period after the date the termination of Employee's employment becomes
effective, shall be deemed terminated and of no further force or effect as of
the date the termination of Employee's employment becomes effective, to the
extent, but only to the extent, such contracts, agreements or arrangements so
prohibit or restrict Employee; provided that the foregoing provision shall not
constitute a license or right to use any proprietary information of the
Corporation and shall in no way affect any such contracts, agreements or
arrangements insofar as they relate to nondisclosure and nonuse of proprietary
information of the Corporation notwithstanding the fact that such nondisclosure
and nonuse may prohibit or restrict Employee in certain competitive activities.

         (ii) In the event that any payment or benefit received or to be
received by Employee in connection with a Change in Control of the Corporation
or termination of Employee's employment (whether payable pursuant to the terms
of this Agreement or any other plan, contract, agreement or arrangement with the
Corporation , with any person whose actions result in a Change in Control of the
Corporation or with any person constituting a member of an "affiliated group" as
defined in Section 280G(d)(5) of the Internal Revenue Code of 1986, as amended
(the "Code"), with the Corporation or with any person whose actions result in a
Change in Control of the Corporation (collectively, the "Total Payments")) would
be subject to the excise tax imposed by Section 4999 of the Code or any
interest, penalties or additions to tax with respect to such excise tax (such
excise tax, together with any such interest, penalties or additions to tax, are
collectively referred to as the "Excise Tax"), then Employee shall be entitled
to receive from the Corporation an additional cash payment (a "Gross-Up
Payment") within thirty business days of such determination in an amount such
that after payment by Employee of all taxes (including any interest, penalties
or additions to tax imposed with respect to such taxes), including any Excise
Tax, imposed upon the Gross-Up Payment, Employee retains an amount of the
Gross-Up Payment equal to the Excise Tax imposed upon the Total Payments. All
determinations required to be made under this Section 4(ii), including whether a
Gross-Up Payment is required and the amount of such Gross-Up Payment, shall be
made by the independent accounting firm retained by the Corporation on the date
of the Change in Control (the "Accounting Firm"), which shall provide detailed
supporting calculations both to the Corporation and Employee within 15 business
days of the date that the termination of Employee's employment becomes
effective, or such earlier time as is requested by the Corporation . If the
Accounting Firm determines that no Excise Tax is payable by Employee, it shall
furnish Employee with an opinion that Employee has substantial authority not to
report any Excise Tax on Employee's federal income tax return.

         Any uncertainty in the application of Section 4999 of the Code at the
time of the initial determination by the Accounting Firm hereunder shall be
resolved in favor of Employee. As a result of the uncertainty in the application
of Section 4999 of the Code at the time of the initial determination by the
Accounting Firm hereunder, it is possible that at a later time there will be a
determination that the Gross-Up Payments made by the Corporation were less than
the Gross-Up Payments that should have been made by the Corporation
("Underpayment"), consistent with the

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calculations required to be made hereunder. In the event that Employee is
required to make a payment of any Excise Tax, the Accounting Firm shall
determine the amount of the Underpayment, if any, that has occurred and any such
Underpayment shall be promptly paid by the Corporation to or for the benefit of
Employee. As a result of the uncertainty in the application of Section 4999 of
the Code at the time of the initial determination by the Accounting Firm
hereunder, it is possible that at a later time there will be a determination
that the Gross-Up Payments made by the Corporation were more than the Gross-Up
Payments that should have been made by the Corporation ("Overpayment"),
consistent with the calculations required to be made hereunder. Employee agrees
to refund to the Corporation the amount of any Overpayment that the Accounting
Firm shall determine has occurred hereunder. Any determination by the Accounting
firm as to the amount of any Gross-Up Payment, including the amount of any
Underpayment or Overpayment, shall be binding upon the Corporation and Employee.

         (iii) Any payment not made to Employee when due hereunder shall
thereafter, until paid in full, bear interest at the rate of interest equal to
the reference rate announced from time to time by U.S. Bank National
Association, plus two percent, with such interest to be paid to Employee upon
demand or monthly in the absence of a demand.

         (iv) Employee shall not be required to mitigate the amount of any
payment provided for in this Section 4 by seeking other employment or otherwise.
The amount of any payment or benefit provided in this Section 4 shall not be
reduced by any compensation earned by Employee as a result of any employment by
another employer.

         5. Employee's Agreements.

                  Employee agrees that:

         (i) Without the consent of the Corporation , Employee will not
terminate employment with the Corporation without giving 60 days prior notice to
the Corporation , and during such 60-day period Employee will assist the
Corporation , as and to the extent reasonably requested by the Corporation , in
training the successor to Employee's position with the Corporation . The
provisions of this Section 5(i) shall not apply to any termination (voluntary or
involuntary) of the employment of Employee pursuant to Section 2(ii)(c) hereof.

         (ii) Without the consent of the Corporation or except as may be
required by law, Employee will not at any time after termination of his
employment with the Corporation disclose to any person, corporation, firm, or
other entity, confidential information concerning the Corporation of which
Employee has gained knowledge during employment with the Corporation .

         (iii) In the event that Employee has received any benefits from the
Corporation under Section 4 of this Agreement, then, during the period of 36
months following the date that the termination of Employee's employment became
effective, Employee, upon request by the Corporation:

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                  (a) Will consult with one or more of the executive officers
concerning the business and affairs of the Corporation for not to exceed four
hours in any month at times and places selected by Employee as being convenient
to him, all without compensation other than what is provided for in Section 4 of
this Agreement; and

                  (b) Will testify as a witness on behalf of the Corporation in
any legal proceedings involving the Corporation which arise out of events or
circumstances that occurred or existed prior to the date that the termination of
Employee's employment became effective (except for any such proceedings relating
to this Agreement), without compensation other than what is provided for in
Section 4 of this Agreement, provided that all out-of-pocket expenses incurred
by Employee in connection with serving as a witness shall be paid by the
Corporation .

         Employee shall not required to perform Employee's obligations under
this Section 5(iii) if and so long as the Corporation is in default with respect
to performance of any of its obligations under this Agreement.

         6. Successors and Binding Agreement.

         (i) The Corporation will require any successor (whether direct or
indirect, by purchase, merger, consolidation or otherwise to all or
substantially all of the business and/or assets of the Corporation ), by
agreement in form and substance satisfactory to Employee, to expressly assume
and agree to perform this Agreement in the same manner and to the same extent
that the Corporation would be required to perform it if no such succession had
taken place. Failure of the Corporation to obtain such agreement prior to the
effectiveness of any such succession shall be a breach of this Agreement and
shall entitle Employee to compensation from the Corporation in the same amount
and on the same terms as Employee would be entitled hereunder if employee
terminated employment after a Change in Control for Good Reason, except that for
purposes of implementing the foregoing, the date on which any such succession
becomes effective shall be deemed the date that the termination of Employee's
employment becomes effective. As used in this Agreement, "Corporation " shall
mean the Corporation and any successor to its business and/or assets which
executes and delivers the agreement provided for in this Section 6(i) or which
otherwise becomes bound by all the terms and provisions of this Agreement by
operation of law.

         (ii) This Agreement is personal to Employee, and Employee may not
assign or transfer any part of Employee's rights or duties hereunder, or any
compensation due to him hereunder, to any other person. Notwithstanding the
foregoing, this Agreement shall inure to the benefit of and be enforceable by
Employee's personal or legal representatives, executors, administrators, heirs,
distributees, devisees, and legatees.

         7. Arbitration. Any dispute or controversy arising under or in
connection with this Agreement shall be settled exclusively by arbitration in
the Fergus Falls area, in accordance with the applicable rules of the American
Arbitration Association then in effect. Judgment may be entered on the
arbitrator's award in any court having jurisdiction.

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         8. Modification; Waiver. No provisions of this Agreement may be
modified, waived, or discharged unless such waiver, modification, or discharge
is agreed to in a writing signed by Employee and such officer as may be
specifically designated by the Board of Directors of the Corporation . No waiver
by either party hereto at any time of any breach by the other party hereto of,
or compliance with, any condition or provision of this Agreement to be performed
by such other party shall be deemed a waiver of similar or dissimilar provisions
or conditions at the same or at any prior or subsequent time.

         9. Notice. All notices, requests, demands, and all other communications
required or permitted by either party to the other party by this Agreement
(including, without limitation, any notice of termination of employment and any
notice of an intention to arbitrate) shall be in writing and shall be deemed to
have been duly given when delivered personally or received by certified or
registered mail, return receipt requested, postage prepaid, at the address of
the other party, as first written above (directed to the attention of the Board
of Directors and Corporate Secretary in the case of the Corporation ). Either
party hereto may change its address for purposes of this Section 9 by giving 15
days' prior notice to the other party hereto.

         10. Severability. If any term or provision of this Agreement or the
application hereof to any person or circumstances shall to any extent be invalid
or unenforceable, the remainder of this Agreement or the application of such
term or provision to persons or circumstances other than those as to which it is
held invalid or unenforceable shall not be affected thereby, and each term and
provision of this Agreement shall be valid and enforceable to the fullest extent
permitted by law.

         11. Counterparts. This Agreement may be executed in several
counterparts, each of which shall be deemed an original, but all of which
together shall constitute one and the same instrument.

         12. Governing Law. This Agreement has been executed and delivered in
the State of Minnesota and shall, in all respects, be governed by, and construed
and enforced in accordance with, the laws of the State of Minnesota, including
all matters of construction, validity and performance.

         13. Effect of Agreement; Entire Agreement. The Corporation and Employee
understand and agree that this Agreement is intended to reflect their agreement
only with respect to payments and benefits upon termination in certain cases and
is not intended to create any obligation on the part of either party to continue
employment. This Agreement supersedes any and all other oral or written
agreements or policies made relating to the subject matter hereof and
constitutes the entire agreement of the parties relating to the subject matter
hereof; provided that this Agreement shall not supersede or limit in any way
Employee's rights under any benefit plan, program or arrangements in accordance
with their terms.

         14. ERISA. For purposes of the Employee Retirement Income Security Act
of 1974, this Agreement is intended to be a severance pay employee welfare
benefit plan, and not an employee pension benefit plan, and shall be construed
and administered with that intention.

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         IN WITNESS WHEREOF, the Corporation has caused this Agreement to be
executed in its name by a duly authorized director and officer, and Employee has
hereunto set his or her hand, all as of the date first written above.

                                    OTTER TAIL CORPORATION

                                    By
                                      -----------------------------------------
                                      Its
                                         --------------------------------------

                                    EMPLOYEE

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

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                                                                       EXHIBIT A

                                     NOTICE

The undersigned ("Employee") does hereby notify Otter Tail Corporation (the
"Corporation ") pursuant to Section 4(i) of that certain Severance Agreement
dated as of the date hereof between the Corporation and Employee (the
"Agreement") that Employee has elected to be paid any amounts which become
payable under Section 4(i)(a) of the Agreement as follows:

         (check one)

         ______ in a lump sum not later than one business day prior to the date
that the termination of Employee's employment becomes effective.

         ______ in 36 equal installments payable monthly, on the last business
day of the month, for 36 consecutive months following the date that the
termination of Employee's employment becomes effective.

Dated:
      ------------------------

                                        ---------------------------------------
                                                        Employee

                                       11<PAGE>
                                                                   EXHIBIT 10.01

                         EXECUTIVE EMPLOYMENT AGREEMENT

     This Executive Employment Agreement (the "Agreement"), made this ____ day
of April, 2002, is entered into by Wabash National Corporation (the "Company")
and William Greubel (the "Executive").

     The Company desires to employ the Executive, and the Executive desires to
be employed by the Company. In consideration of the mutual covenants and
promises contained in this Agreement, and other good and valuable consideration,
the receipt and sufficiency of which are acknowledged by the parties, the
parties agree as follows:

     1. TERM OF EMPLOYMENT; EXTENSION. The Company agrees to employ the
Executive, and the Executive accepts employment with the Company, upon the terms
set forth in this Agreement, for the period commencing on April ___, 2002 (the
"Commencement Date") and ending on March 31, 2005 (the "Employment Period"),
unless sooner terminated in accordance with the provisions of Section 4;
provided, however, that the term of the Executive's employment with the Company
shall be automatically extended for a term of one (1) year beginning on April 1,
2005 and on each subsequent April 1 unless the Executive or the Company shall
have given written notice to the other at least sixty (60) days prior thereto
that the term of the Executive's employment shall not be so extended. In the
event that the Company chooses not to extend the term of the Executive's
employment in accordance with this Section 1, the Executive shall not be
entitled to any severance, benefits, or other payments, except that the Company
shall continue to pay the Executive's Base Salary (as that term is defined in
Section 3.1.) for a period of two (2) years following the termination of his
employment. Such payments shall be less standard deductions and withholding for
federal, state, and local taxes as required by federal, state, or local law
reasonably determined by the Company. In addition, such payments shall be offset
by any salary, wages, or bonuses received by the Executive during this two-year
period. Accordingly, in the event that the Company pays the Executive such
payments, the Executive shall, at reasonable intervals, provide the Company with
an accounting of any salary, wages, or bonuses that he receives during this
two-year period.

     2. TITLE; CAPACITY. The Executive shall serve as Chief Executive Officer of
the Company and shall be subject to the supervision of, and shall have such
authority as is delegated to him by, the Board of Directors. The Executive
agrees to undertake and faithfully perform the duties and responsibilities
inherent in such position and such other duties and responsibilities of an
executive nature as the Board may from time to time reasonably assign to him.
The parties acknowledge their desire for the Executive to be a member of the
Company's Board of Directors, and, so long as the Executive remains the Chief
Executive Officer of

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the Company, the Company shall use commercially reasonable efforts to cause the
Executive to be nominated for election to the Board. The Executive agrees to
devote his entire business time, attention and energies to the business and
interests of the Company during the Employment Period, excepting periods of
vacation, illness or disability and except such time as the Executive may
reasonably require for personal matters and affairs. Executive shall not engage
in any activities which will interfere with the performance of his duties with
the Company or which knowingly present a conflict of interest. During the
Executive's employment with the Company, Executive may serve on the boards of
directors of other entities and may pursue passive investments; provided that
such activities do not unreasonably interfere with his duties and
responsibilities hereunder or create a conflict of interest with the Company;
and further provided that, with respect to serving on the boards of directors of
entities other than charitable organizations and not-for-profit corporations,
the Executive obtains written consent from the Company, such consent not to be
unreasonably withheld.

     3. COMPENSATION AND BENEFITS.

          3.1. Salary. The Company shall pay the Executive, in semi-monthly
installments, an annual base salary of not less than six hundred-thousand
dollars ($600,000) during the Employment Period (the "Base Salary"). Executive's
Base Salary shall be subject to an annual review and possible upward adjustment
pursuant to such annual review based on a discussion between the parties of the
Executive's performance hereunder. All payments hereunder shall be less
deductions and withholdings as required by federal, state, or local law.

          3.2. Bonus Compensation. The Executive shall be eligible for an annual
incentive bonus ("Bonus"), which is targeted at fifty percent (50%) of his Base
Salary and which may range from zero percent (0%) to one hundred percent (100%)
of his Base Salary. The amount of any Bonus shall be at the sole discretion of
the Company, which shall make its determination based on the Company's
performance and the Executive's performance. Notwithstanding the foregoing, the
parties agree that the Executive's bonus shall be at least two hundred-thousand
dollars ($200,000) for fiscal year 2002. Any Bonus payment hereunder shall be
less deductions and withholdings as required by federal, state, or local law,
and shall be paid no later than sixty (60) days after the end of the applicable
fiscal year.

          3.3. Stock Awards.

               3.3.1   Stock Options.  Executive shall be granted stock-options
as set forth in the Nonqualified Stock Option Agreement, Exhibit A to this
Agreement.

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               3.3.2   Restricted Stock. The Company and the Executive recognize
and agree that, by becoming employed by the Company, the Executive may lose some
or the entire value of the equity that he has in the one hundred fifty shares
(150) of common stock he owns in Accuride Corporation, his current employer (the
"Accuride Shares"). To induce the Executive to become employed by the Company,
the Company is willing to compensate the Executive for the current value of such
equity if, and to the extent, the Executive loses it. For purposes of this
Agreement, the Company and the Executive value the Accuride Shares at One
Thousand Seven Hundred Fifty and No/100 Dollars ($1,750) per share, and they
recognize and agree that the current value of the Executive's equity in the
Accuride Shares is Two Hundred Sixty Two Thousand Five Hundred and No/100
Dollars ($262,500) (the "Current Value"). The Executive shall negotiate in good
faith with Accuride Corporation to redeem his Accuride Shares for the Current
Value. If and to the extent that the Accuride Shares of the Executive are not
redeemed by the Company within one hundred twenty (120) days from the date he
leaves the employ of Accuride Corporation (the "Trigger Date") for the Current
Value, the Company shall grant to the Executive an amount of shares of common
stock in the Company equal to the Current Value of Executive's equity in the
shares that Accuride Corporation does not redeem (the "Company Make Whole Common
Stock"). If and to the extent that (i) the Executive realizes value from the
Accuride Shares, whether redeemed by Accuride, exchanged for cash, notes and/or
publicly traded securities or otherwise, or (ii) Accuride Corporation securities
become publicly traded, prior to March 31, 2005, the Executive will forfeit and
return to the Company a percentage of the shares of the Company Make Whole
Common Stock equal to (A) the percentage of the Current Value realized by the
Executive, or (B) the percentage the fair market value of the Accuride
Corporation common stock is, if it has become publicly traded, of the Current
Value. To the extent not previously forfeited, the Executive's shares of Common
Make Whole Stock shall vest one hundred percent (100%) on March 31, 2005,
subject, to the accelerated vesting provisions contained herein and except as
otherwise set forth herein, and to the standard terms and conditions under the
Executive Restricted Stock Agreement, Exhibit B to this Agreement.

          3.4. Fringe Benefits. The Executive shall be entitled to participate
in the fringe benefit programs established by the Company according to the terms
and conditions of those programs and to the extent those programs are generally
applicable to other executives of the Company. The Executive shall be entitled
to four (4) weeks of vacation each year. In addition to and notwithstanding the
foregoing, the Company shall pay to Executive during each year of employment an
additional sum of THIRTY EIGHT THOUSAND NINE HUNDRED THIRTEEN DOLLARS AND EIGHT
CENTS ($38,913.08), which represents the premium payment and tax gross up amount
paid by Executive's current employer, to enable Executive to participate in an
executive life insurance program of his choosing.

                                       3
<PAGE>

          3.5. Reimbursement of Expenses. The Company shall reimburse the
Executive for all reasonable business expenses paid or incurred by the Executive
in connection with the performance of his duties and responsibilities under this
Agreement, upon presentation by the Executive of documentation, expense
statements, vouchers and/or such other supporting information as the Company may
reasonably request.

          3.6. Relocation Expenses. The Company shall reimburse the Executive
for the customary and reasonable relocation expenses that he and his family
incur in moving his residence to the Lafayette, Indiana area. Without limiting
the generality of the foregoing, the Company agrees that it will pay the
reasonable costs of relocating the Executive and his family from his existing
residence in Evansville, Indiana (the "Evansville Home") to the Lafayette,
Indiana area. Such costs shall include: (a) the cost of having a moving company
or companies selected by the Executive move the household items and automobiles
of the Executive and his family, such costs to be grossed up so that the
Executive pays no federal or state income taxes for such move and storage; (b)
the closing costs, including real estate commission, transfer taxes, title
searches, survey costs, and reasonable attorneys' fees, incurred by the
Executive in selling his Evansville Home; and (c) the closing costs, including
transfer taxes, title searches, survey costs, reasonable points (consistent with
the marketplace) for a mortgage, inspection fees, and reasonable attorneys'
fees, incurred by the Executive in purchasing a residence in the Lafayette,
Indiana area. The Company recognizes that the Executive has a substantial
investment in the Evansville Home. If the Executive is unable to sell the
Evansville Home within ninety (90) days of the date (the "Listing Date") that
the Executive puts the Evansville Home on the market, then the Company shall
either buy the Evansville Home from the Executive or cause it to be sold to a
third party for the fair market value of the Evansville Home as of the Listing
Date. Until the sale of the Evansville Home is consummated, the Executive will
be responsible for maintaining the Evansville Home (including mortgage payments,
property taxes, upkeep, and insurance). Commencing with the Commencement Date,
and continuing until the date of the closing of the sale of the Evansville Home,
the Company shall reimburse the Executive for the monthly rental and utility
expenses, up to FIVE THOUSAND DOLLARS ($5,000.00) per month, for lodging at a
hotel, apartment, townhouse, or house within reasonable commuting distance of
the Lafayette, Indiana area. Until the sale of the Evansville Home is
consummated, the Company shall also reimburse the Executive for the travel
expenses he incurs in commuting on weekends between the Lafayette, Indiana area
and his Evansville Home so that the Executive may make periodic visits to his
wife and family and assist in the sale of the Evansville Home. The Company shall
also reimburse the Executive's wife for the travel expenses she incurs for up to
two "house hunting" and relocation trips from the Evansville Home to the
Lafayette, Indiana area. In the event that the Company's moving expense and
relocation package is, in whole or in part, more generous than provided above,

                                       4
<PAGE>

then the Executive shall be entitled to receive the more generous package or
portion thereof. The obligations of the Company under this Section 3.6 shall
survive the termination of the Executive's employment for any reason.

          3.7. Residual Compensation. All compensation due under the terms of
this Agreement, but not yet paid, shall be paid to Executive notwithstanding the
expiration of the term of the Agreement.

     4. EMPLOYMENT TERMINATION. The employment of the Executive by the Company
shall terminate upon the occurrence of any of the following:

          4.1. Expiration or non-extension of the Employment Period in
accordance with Section 1.

          4.2. At the election of the Company, for Cause, upon written notice by
the Company to the Executive. For purposes of this Section 4.2., Cause for
termination shall be deemed to exist upon: (a) the Executive's willful and
continued failure to perform his principal duties (other than any such failure
resulting from vacation, leave of absence, or incapacity due to injury,
accident, illness, or physical or mental incapacity) as reasonably determined by
the Board in good faith after the Executive has been given written, dated notice
by the Board specifying in reasonable detail his failure to perform and
specifying a reasonable period of time, but in any event not less than twenty
(20) business days, to correct the problems set forth in the notice; (b) the
Executive's chronic alcoholism or addiction to non-medically prescribed drugs;
(c) the Executive's theft or embezzlement of the Company's money, equipment, or
securities; (d) the conviction of the Executive of, or the entry of a pleading
of guilty or nolo contendere by the Executive to, any felony or misdemeanor
involving moral turpitude or dishonesty; or (e) a material breach of this
Agreement by the Executive, and the failure of the Executive to cure such breach
within ten (10) business days of written notice thereof specifying the breach.
In no event shall the failure to achieve the goals set forth in accordance with
Section 3.2. of this Agreement be in and of itself Cause for termination, but
such failure may be considered as part of his overall performance. No act or
omission on the part of the Executive shall be considered "willful" unless it is
done by the Executive in bad faith or without reasonable belief that the
Executive's action was in the best interests of the Company. Any act or omission
based upon authority given pursuant to a resolution duly adopted by the Board of
Directors of the Company or based upon the advice of counsel for the Company
shall be conclusively deemed to be done by the Executive in good faith and in
the best interests of the Company.

          4.3. At the election of the Executive, with Good Reason, upon written
notice by the Executive to the Company. For purposes of this Section 4.3., Good
Reason for termination shall be deemed to exist upon: (a) a material
diminishment of the Executive's position, duties, or responsibilities; (b) the

                                       5
<PAGE>

assignment by the Company to the Executive of substantial additional duties or
responsibilities which are inconsistent with the duties or responsibilities then
being carried by the Executive and which are not duties of an executive nature;
(c) a material breach of this Agreement by the Company, and the failure of the
Company to cure such breach within twenty (20) business days of written notice
thereof specifying the breach; (d) material fraud on the part of the Company; or
(e) discontinuance of the active operation of business of the Company, or
insolvency of the Company, or the filing by or against the Company of a petition
in bankruptcy or for reorganization or restructuring pursuant to applicable
insolvency or bankruptcy law.

          4.4. Upon the death or disability of the Executive. For purposes of
this Section 4.4., the Executive shall be deemed to have a disability where: (a)
the Executive has been unable, by reason of illness or injury and with or
without a reasonable accommodation, to perform his normal duties on behalf of
the Company on a full-time basis for a period of 180 days, whether or not
consecutive, within the preceding 360-day period; or (b) the receipt by the
Executive of disability benefits for permanent and total disability under any
long-term disability income policy held by or on behalf of the Executive.

          4.5. At the election of the Company, without Cause, upon thirty (30)
days' written notice by the Company to the Executive, or at the election of the
Executive, for Good Reason, upon thirty (30) days' written notice by the
Executive to the Company, subject to the provisions of Sections 5.3. and 5.4.
below. If the Executive is terminated at the election of the Company without
Cause or the Executive terminates at his election for Good Reason, then, except
as otherwise provided in this Agreement, the payments set forth in Sections 5.3.
and 5.4., whichever Section applies, shall be in complete accord and
satisfaction of any claim that the Executive has or may have for compensation or
payments of any kind from the Company arising from or relating in whole or in
part to the Executive's employment with or termination by the Company.

          4.6. At the election of the Executive, without Good Reason, upon
thirty (30) days written notice to the Company.

     5. EFFECT OF TERMINATION.

          5.1. Termination for Cause or without Good Reason. If the Executive's
employment is terminated for Cause (as defined in Section 4.2.) or if the
Executive terminates his employment without Good Reason (as defined in Section
4.3.), the Company shall pay to the Executive the compensation and benefits
otherwise payable to him under Section 3 through the last day of his actual
employment by the Company. However, the Executive shall not be entitled to any
Bonus payment for the fiscal year in which he is terminated for Cause.

                                       6
<PAGE>

          5.2. Termination for Death or Disability. If the Executive's
employment is terminated by death or because of disability pursuant to Section
4.4., the Company shall pay to the estate of the Executive or to the Executive,
as the case may be, the compensation and benefits which would otherwise be
payable to him under Section 3 up to the date the termination of his employment
occurs. However, the Executive's Bonus, assuming the attainment of the goals set
forth in Section 3.2. of this Agreement, for the fiscal year in which
termination occurs because of death or disability will be pro-rated based on his
length of service with the Company in that year. For example, if the Executive
terminates because of disability six months into the fiscal year, his Bonus, if
any, would be fifty percent of the regular Bonus for that year. Executive shall
maintain all of his rights in connection with his vested stock options. Such
options shall be exercisable within the later of: (a) the time period provided
for under Exhibits A and B hereto; or (b) three (3) years from the date of such
termination.

          5.3. Termination without Cause or for Good Reason. If the Executive's
employment is terminated by the Company without Cause or by him for Good Reason
pursuant to Section 4.5. on or before March 31, 2003, the Company shall pay to
the Executive a lump sum equal to three (3) times his Base Salary (as set forth
in Section 3.1.). If the Executive's employment is terminated by the Company
without Cause or by him for Good Reason pursuant to Section 4.5. after March 31,
2003, the Company shall pay to the Executive a lump sum equal to two (2) times
his Base Salary (as set forth in Section 3.1.). In addition, the Executive's
Bonus, assuming the attainment of the goals set forth in Section 3.2. of this
Agreement, for the fiscal year in which termination occurs at the election of
the Company without cause, will be pro-rated based on his length of service with
the Company in that year. For example, if the Executive is terminated without
Cause six months into the fiscal year, his Bonus, if any, would be fifty percent
of the regular Bonus for that year. Any Bonus payments hereunder shall be less
deductions and withholdings as required by federal, state, or local law. The
Company shall also pay to the Executive the compensation and benefits otherwise
payable to him under Section 3 through the last day of his actual employment by
the Company, and the Executive shall maintain all of his rights in connection
with his vested stock options. Such options shall be exercisable within the
later of: (a) the time period provided for under Exhibits A and B hereto; or (b)
three (3) years from the date of such termination.

          5.4. Termination at the Election of the Company After a Change of
Control. If the Executive's employment is terminated without Cause by the
Company of for Good Reason by the Executive pursuant to Section 4.5. within 180
days after a change of control as defined below, the Company shall pay to the
Executive a sum equal to three times his Base Salary (as set forth in Section
3.1.) plus his target bonus for that fiscal year, less applicable deductions
required by federal, state, or local law. The Company shall also pay to the
Executive the

                                       7
<PAGE>

compensation and benefits otherwise payable to him under Section 3 through the
last day of his actual employment by the Company. In addition, the parties agree
that any unvested stock options or restricted stock held by the Executive shall
be deemed immediately and fully vested as of the date of the termination of his
employment by the Company without Cause or by the Executive for Good Reason
after a change of control. Such stock options shall be exercisable within the
later of: (a) the time period provided for under Exhibits A and B hereto; or (b)
three (3) years from the date of such termination. The parties agree that the
terms of this Section 5.4. (only if the Executive becomes entitled to the
benefits described in this Section 5.4.) shall constitute amendments to any and
all stock option and restricted stock agreements that will have been agreed to
by the parties and that, except as so amended, the terms and conditions of such
stock option and restricted stock agreements shall remain in full force and
effect. The parties further agree that the Company, at its election, shall
either continue the Executive's benefits (pursuant to the terms and conditions
of the applicable benefits plans and policies) for a period of three (3) years
from the date of the termination of his employment without Cause or for Good
Reason, or shall pay to the Executive a lump sum payment, less applicable
withholdings for federal, state, and local taxes, equal to three (3) years'
premiums (at the rate and level of coverage applicable at the time of the
Executive's termination) under the Company's health and dental insurance policy
plus three (3) years' premiums (at the rate and level of coverage applicable at
the time of the Executive's termination) under the Company's life insurance
policy.

               (a).    Change of Control.  For purposes of this Agreement, a
"Change of Control" of the Company shall be deemed to have occurred if: (A) any
"person" (as such term is used in Sections 13(d) and 14(d) of the Securities
Exchange Act of 1934, as amended (the "Exchange Act")), other than any person
currently a "beneficial owner" (as defined in Rule 13d-3 under the Exchange Act)
of the Company's securities becomes, after the date hereof, the beneficial
owner, directly or indirectly, of securities of the Company representing fifty
percent (50%) or more of the combined voting power of the Company's then
outstanding securities; (B) during any two- (2-) year period, individuals who at
the beginning of such period constitute the Board of Directors, including for
this purpose any new director whose election resulted from a vacancy on the
Board of Directors caused by the mandatory retirement, death, or disability of a
director and was approved by a vote of at least two-thirds (2/3rds) of the
directors then still in office who were directors at the beginning of the
period, cease for any reason to constitute a majority thereof; (C)
notwithstanding clauses (A) or (E) of this paragraph, the Company consummates a
merger or consolidation of the Company with or into another corporation, the
result of which is that the stockholders of the Company at the time of the
execution of the agreement to merge or consolidate own less than eighty percent
(80%) of the total equity of the corporation surviving or resulting from the
merger or consolidation or of a corporation owning, directly or indirectly, one
hundred percent (100%) of the total equity of such surviving or resulting

                                       8
<PAGE>

corporation; (D) the sale in one or a series of transactions of all or
substantially all of the assets of the Company; (E) any person has commenced a
tender or exchange offer, or entered into an agreement or received an option to
acquire beneficial ownership of fifty percent (50%) or more of the total number
of voting shares of the Company unless the Board of Directors has made a
reasonable determination that such action does not constitute and will not
constitute a change in the persons in control of the Company; or (F) there is a
change of control in the Company of a nature that would be required to be
reported in response to Item 6(e) of Schedule 14A of Regulation 14A promulgated
under the Exchange Act other than in circumstances specifically covered by
clauses (A) - (E) above.

               (b).  Excise Tax Restoration Payment.  In the event that it is
determined that any payment, benefit, or distribution described in this Section
5.4. made by the Company, by any of its affiliates, by any person who acquires
ownership or effective control or ownership of a substantial portion of the
Company's assets (within the meaning of section 280G of the Internal Revenue
Code of 1986, as amended, and the regulations thereunder (the "Code")) or by any
affiliate of such person, whether paid or payable or distributed or
distributable pursuant to the terms of this Section 5.4. or otherwise (the
"Total Payments"), would be subject to the excise tax imposed by section 4999 of
the Code or any interest or penalties with respect to such excise tax (such
excise tax, together with any such interest or penalties, are collectively
referred to as the "Excise Tax"), then the Executive shall be entitled to
receive an additional payment (an "Excise Tax Restoration Payment") in an amount
that shall fund the payment by the Executive of any Excise Tax on the Total
Payments as well as all income taxes imposed on the Excise Tax Restoration
Payment, any Excise Tax imposed on the Excise Tax Restoration Payment and any
interest or penalties imposed with respect to taxes on the Excise Tax
Restoration Payment or any Excise Tax.

               5.5. Release. The parties acknowledge and agree that the payments
and benefits to the Executive described in Sections 5.3. and 5.4. shall be
contingent upon the Executive's signing and executing a General Release of
Claims acceptable to both the Company and him. The parties further acknowledge
and agree that Executive shall not be required to seek other employment or take
other action in order to mitigate his damages or to be entitled to the benefits
and payments under Sections 5.3 and 5.4 of this Agreement. The Company is not
entitled to set off against such benefits and payments due, or any other amounts
of money payable to the Executive, any amounts he earns in other employment or
engagement after the termination of his employment by the Company without Cause
or by him for Good Reason, or any amounts that he might or could have earned in
other employment or engagement had he sought such other employment or
engagement.

               5.6. Termination at the Election of the Executive.  If the
Executive's employment is terminated at his election pursuant to Section 4.6.,
the

                                       9
<PAGE>

Company shall pay to the Executive the compensation and benefits which would
otherwise be payable to him under Section 3 through the last day of his actual
employment with the Company. However, the Executive will not be entitled to any
Bonus payment for the fiscal year in which his employment is terminated at his
election. Executive shall maintain all of his rights in connection with his
vested stock options. Such options shall be exercisable within the later of: (a)
the time period provided for under Exhibits A and B hereto; or (b) ninety (90)
days from the date of such termination.

          6. CONFIDENTIAL MATERIALS AND INFORMATION. Executive acknowledges that
during his employment with the Company, he will occupy a position of trust and
confidence with respect to the Company's affairs and business and will have
access to the Company's trade secrets and other confidential and/or proprietary
information ("Confidential Information"). Executive agrees that, both during his
employment and after the termination of his employment, he will use his best
efforts and utmost diligence to preserve, protect, and prevent the disclosure of
such Confidential Information. Executive acknowledges that as used herein,
Confidential Information includes, but is not limited to, all methods,
processes, techniques, practices, product designs, pricing information, billing
histories, customer requirements, customer lists, employee lists, salary
information, personnel matters, financial data, operating results, plans,
contractual relationships, projections for new business opportunities for new or
developing businesses, and technological innovations in any stage of
development. Confidential Information also includes, but is not limited to, all
notes, records, software, drawings, handbooks, manuals, policies, contracts,
memoranda, sales files, or any other documents generated or compiled by any
employee of the Company. Such information is, and shall remain, the exclusive
property of the Company, and Executive agrees that he shall promptly return all
such information to the Company upon termination of his employment. Any
information publicly available or generally known within the industry or trade
in which the Company operates and competes is not Confidential Information.

               6.1.  Executive Obligations.  The Executive agrees to take the
following steps to preserve the confidential and proprietary nature of the
Company's Confidential Information and materials.

                     (a).  Non-Disclosure.  During and after his employment with
the Company, the Executive will not use, disclose or transfer any of the
Company's Confidential Information or materials other than as authorized by the
Company within the scope of his duties with the Company, and will not use in any
way other than in Company's business any of the Company's Confidential
Information, including information or material received by the Company from
others and intended by the Company to be kept in confidence by its recipients.
The Executive understands that he is not allowed to sell, license or otherwise
exploit

                                       10
<PAGE>

any products which embody or otherwise exploit in whole or in part any of the
Company's Confidential Information or materials, except on behalf of the
Company.

                     (b). Disclosure Prevention. The Executive will take all
reasonable precautions to prevent the inadvertent or accidental exposure of the
Company's Confidential Information.

                     (c). Removal of Material. The Executive will not remove any
of the Company's Confidential Information from the Company's premises or make
copies of such materials except for use in the Company's business.

                     (d). Return All Materials. The Executive will return to the
Company all the Company's Confidential Information, materials and copies of the
foregoing at any time upon the request of the Company, in any event and without
such request, prior to the termination of Executive's employment by Company.
Executive agrees not to retain any copies of any of the Company's Confidential
Information and materials after his termination of employment for any reason.

                     (e). Computer Security. During his employment with the
Company, the Executive agrees only to use computer resources (both on and off
Company's premises) for which he has been granted access and then only to the
extent authorized. The Executive agrees to comply with all Company policies and
procedures, including, but not limited to, those concerning computer security.
The Company recognizes and agrees that the Executive may use such computer
resources for de minimis personal use.

               6.2.  Prior Proprietary Information.  The Executive agrees not to
knowingly disclose to the Company or knowingly use in the Company's business any
information or material obtained prior to his employment with the Company
relating to the business of any third person and intended by that person not to
be disclosed to the Company. The Executive represents that to the best of his
knowledge the Executive's performance of all of the terms of this Agreement and
as an Executive of the Company does not and will not breach any agreement to
keep in confidence proprietary information acquired by the Executive prior to
the Executive's employment by the Company. Further, Executive represents that to
the best of his knowledge the performance of his duties with the Company will
not breach any contractual or other legal obligation to any third person.

          7.   POST EMPLOYMENT OBLIGATIONS.

               7.1.  Covenants.  The Executive acknowledges:  (a) his services
to the Company will be special and unique; (b) his work for the Company will
allow him access to the Company's confidential information and customers; (c)
the Company's business is national and international in scope; (d) the Company
would

                                       11
<PAGE>

not have entered into this Agreement but for the covenants and agreements
contained in this Section 7; and (e) the agreements and covenants contained in
this Section 7 are essential to protect the business and goodwill of the
Company. In order to induce the Company to enter into this Agreement, the
Executive covenants and agrees that:

               7.2.  Non-Compete.  During the term of his Employment with the
Company and for a period of twenty-four (24) months after his termination ("the
Restricted Period"), for whatever reason, the Executive will not directly or
indirectly, individually or as an officer, director, Executive, shareholder
(except if he is a shareholder of less than 1% of a publicly traded security),
consultant, contractor, partner, joint venturer, agent, equity owner, or in any
capacity whatsoever, engage in or promote any business that is competitive with
the business of the Company in any geographic area in which the Company does or
plans to do business while the Executive was employed, including but not limited
to the United States and Canada. A business competitive with the business of the
Company is defined as a business engaged in the manufacture, distribution or
wholesale or retail sale of new or used truck trailers and related parts and
service businesses.

               7.3.  Non-Solicitation and Non-Interference with Customers and
other Business Relationships. During the Restricted Period, the Executive will
not directly or indirectly knowingly solicit (other than on behalf of the
Company) business or contracts for any products or services of the type
provided, developed or under development by the Company during the Executive's
employment by the Company, from or with (i) any person or entity which was a
customer of the Company for such products or services as of, or within one year
prior to the Executive's date of termination with the Company, or (ii) any
prospective customer which the Company was soliciting as of, or within one year
prior to the Executive's termination. Additionally, during the Restricted
Period, the Executive will not directly or indirectly contract with any such
customer or prospective customer for any product or service of the type
provided, developed or which was under development by the Company during the
Executive's employment with the Company. Further, the Executive shall not during
the Restricted Period knowingly interfere or attempt to interfere with any
transaction, agreement or business relationship in which the Company was
involved during the Executive's employment with the Company.

               7.4.  Non-Solicitation of Employees and Contractors. During the
Restricted Period, the Executive shall not knowingly solicit any person employed
by the Company, or who within 180 days of termination of Executive's employment
had been so employed by the Company, to leave the employ of the Company.
Further, during the Restricted Period, the Executive will not knowingly solicit
any contractor of the Company to terminate or reduce its business with the
Company.

                                       12
<PAGE>

               7.5. Executive Acknowledgment. The Executive acknowledges that
the geographic boundaries, scope of prohibited activities, and time duration of
the preceding paragraphs are reasonable in nature and no broader than are
necessary to protect the legitimate business interests of the Company.

               7.6. Enforcement. The parties agree that if a Court of competent
jurisdiction finds that any term of this Section 7 is for any reason excessively
broad in scope or duration, such term shall be construed in a manner to enable
it to be enforced to the maximum extent possible. Further, the covenants in this
Section 7 shall be deemed to be a series of separate covenants and agreements,
one for each and every region of each state and political division worldwide.
If, in any judicial proceeding, a court of competent jurisdiction shall refuse
to enforce any of the separate covenants deemed included herein, then at the
option of the Company, wholly unenforceable covenants shall be deemed eliminated
from the provision hereof for the purpose of such proceeding to the extent
necessary to permit the remaining separate covenants to be enforced in such
proceeding.

          8. REMEDIES. Executive acknowledges that the restrictions contained in
Sections 6 and 7 of this Agreement are reasonable and necessary to protect the
business and interests of the Company and that any violation of these
restrictions would cause the Company substantial irreparable injury.
Accordingly, the Executive agrees that a remedy at law for any breach of the
foregoing covenants would be inadequate and that the Company, in addition to any
other remedies available, shall be entitled to obtain preliminary and permanent
injunctive relief to secure specific performance of such covenants and to
prevent a breach or contemplated breach of this Agreement without the necessity
of proving actual damage. It is the express intention of the parties that the
obligations of Sections 6, 7, and 8 of this Agreement shall survive its
expiration.

          9. NOTICES. All required or permitted notices under this Agreement
shall be in writing and shall be effective upon personal delivery or three (3)
business days after being deposited in the United States Post Office, by
registered or certified mail, postage prepaid, addressed to the other party at
the address shown on the signature page hereof, or at such other address as
either party may designate to the other in accordance with this Section 9, with
a copy to counsel for the Executive, addressed as follows:

          Funkhouser Vegosen Liebman & Dunn Ltd.
          55 West Monroe Street - Suite 2410
          Chicago, Illinois  60603
          Attention:  Jonathan Vegosen, Esq.

and a copy to counsel for the Company, addressed as follows:

          Hogan & Hartson L.L.P.

                                       13
<PAGE>

          111 South Calvert Street
          Baltimore, Maryland 21202
          Attention:  Michael J. Silver, Esq.

          10. ATTORNEY'S FEES. The Company shall pay the Executive's reasonable
attorneys' fees, not to exceed $10,000, incurred in reaching this Agreement.

          11. ENTIRE AGREEMENT. This Agreement (including the Exhibits to the
Agreement) constitutes the entire agreement between the parties and supersedes
all prior agreements and understandings, whether written or oral, relating to
the subject matter of this Agreement.

          12. AMENDMENT. This Agreement may be amended or modified only by a
written instrument executed by both the Company and the Executive.

          13. GOVERNING LAW. This Agreement shall be construed, interpreted and
enforced in accordance with the laws of the State of Indiana, regardless of the
laws that might otherwise govern under applicable principles of conflicts of
law.

          14. SUCCESSORS AND ASSIGNS. This Agreement shall be binding upon and
inure to the benefit of both parties and their respective successors and
assigns, including any corporation with which or into which the Company may be
merged or which may succeed to its assets or business, provided, however, that
the obligations of the Executive are personal and shall not be assigned by him.

          15. MISCELLANEOUS.

               15.1. No delay or omission by the Company or the Executive in
exercising any right under this Agreement shall operate as a waiver of that or
any other right. A waiver or consent given by the Company or the Executive on
any one occasion shall be effective only in that instance and shall not be
construed as a bar or waiver of any right on any other occasion.

               15.2. The captions of the sections of this Agreement are for
convenience of reference only and in no way define, limit or affect the scope or
substance of any section of this Agreement.

               15.3. The unenforceability of any provision of this Agreement
shall not affect the enforceability of any other provision of this Agreement.

               15.4. This Agreement may be executed in one or more counterparts,
each of which shall be deemed an original, and all of which together shall
constitute one and the same instrument.

                                       14
<PAGE>

          16. INDEMNIFICATION. The Company, to the extent that it does so
generally for its officers and directors and to the extent permitted by its
corporate by-laws, shall provide the Executive with directors and officers
liability insurance and shall indemnify, defend, and hold the Executive harmless
from and against any and all demands, actions, claims, suits, liabilities,
losses, damages, fees (including reasonable attorneys' fees) and expenses
relating to any acts or omissions in the course or scope of the duties he
performs on behalf of the Company while employed by it and/or while serving as
an officer and/or director of the Company. The provisions of this Section 16,
though only with respect to acts or omissions by the Executive while still
employed by the Company, shall survive the expiration of this Agreement or the
termination of Executive's employment with the Company for any reason.

                                       15
<PAGE>

          IN WITNESS WHEREOF, the parties hereto have executed this Agreement as
of the date first set forth above.

                                            WABASH NATIONAL CORPORATION
                                            1000 Sagamore Parkway South
                                            Lafayette, Indiana  47905

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

                                            Title:

                                            WILLIAM GREUBEL
                                            2400 Lake Ridge Drive
                                            Newburgh, Indiana  47630

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

                                       16

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