Document:

EXHIBIT 10.2

<PAGE>

                                    FORM OF
                      CHANGE IN CONTROL SEVERANCE AGREEMENT
                      -------------------------------------
                              AMENDED AND RESTATED

         THIS CHANGE IN CONTROL SEVERANCE AGREEMENT  ("Agreement")  entered into
this the 17 th day of April,  2000 ("Effective  Date"),  by and between Heritage
Savings Bank, F.S.B. (the "Bank") and ___________________ (the "Employee").

         WHEREAS,  the Employee is  currently  employed by the Bank as _________
______________ and is experienced in all phases of the business of the Bank; and

         WHEREAS, the parties have previously entered into an Agreement with the
Bank; and

         WHEREAS, the parties desire by this writing to set forth the rights and
responsibilities of the Bank and Employee if the Bank should undergo a change in
control  (as  defined   hereinafter)   after  the  Effective  Date  (as  defined
hereinafter).

         NOW, THEREFORE, it is AGREED as follows:

         1.  Employment.  The  Employee  is  employed  in  the  capacity  as the
             -----------
____________________________  of  the  Bank.  The  Employee  shall  render  such
administrative  and  management  services to the Bank and its parent savings and
loan holding company ("Parent") as are currently rendered and as are customarily
performed by persons situated in a similar  executive  capacity.  The Employee's
other duties shall be such as the Board of Directors for the Bank (the "Board of
Directors" or "Board") may from time to time reasonably direct, including normal
duties as an officer of the Bank and the Parent.

         2.  Term of  Agreement.  The  term of this  Agreement  shall be for the
             -------------------
period  commencing  on the  Effective  Date and ending  twenty-four  (24) months
thereafter.  Additionally,  on or before each annual  anniversary  date from the
Effective Date, the term of this Agreement may be extended for an additional one
year period beyond the then effective  expiration date upon a determination  and
resolution of the Board of Directors  that the  performance  of the Employee has
met the  requirements  and  standards  of the  Board,  and that the term of such
Agreement shall be extended.

         3.  Termination  of Employment  in  Connection  with or Subsequent to a
             -------------------------------------------------------------------
             Change in Control.
             ------------------
         (a) Notwithstanding any provision herein to the contrary,  in the event
of the involuntary  termination of Employee's  employment  under this Agreement,
absent Just Cause, in connection with, or within  twenty-four (24) months after,
any Change in Control  of the

                                       1

<PAGE>

Bank or  Parent,  Employee  shall  be paid an  amount  equal to 2.00  times  the
Employee's cash  compensation  paid by the Bank during the one year period prior
to the date of termination of employment  (whether said amounts were received or
deferred by the Employee) and the costs  associated  with  maintaining  coverage
under the Bank's  medical and dental  insurance  reimbursement  plans similar to
that in effect on the date of termination of employment for a period of one year
thereafter. Said sum shall be paid, at the option of Employee, either in one (1)
lump sum  within  thirty  (30) days of such  termination  of  employment,  or in
periodic payments over the next 24 months, and such payments shall be in lieu of
any other  future  payments  which the Employee  would be otherwise  entitled to
receive.  Notwithstanding  the  forgoing,  all sums payable  hereunder  shall be
reduced  in such  manner  and to such  extent  so  that  no such  payments  made
hereunder when  aggregated with all other payments to be made to the Employee by
the  Bank or the  Parent  shall be  deemed  an  "excess  parachute  payment"  in
accordance  with Section 280G of the Internal  Revenue Codes of 1986, as amended
(the "Code") and be subject to the excise tax provided at Section 4999(a) of the
Code.  The term  "Change  in  Control"  shall  mean:  (i) the sale of all,  or a
material  portion,  of the  assets  of the Bank or  Parent;  (ii) the  merger or
recapitalization  of the Parent whereby the Parent is not the surviving  entity;
(iii) a change  in  control  of the Bank or  Parent,  as  otherwise  defined  or
determined by the Office of Thrift Supervision or regulations promulgated by it;
or (iv) the  acquisition,  directly or indirectly,  of the beneficial  ownership
(within  the  meaning  of  that  term  as it is used  in  Section  13(d)  of the
Securities  Exchange  Act of 1934  and the  rules  and  regulations  promulgated
thereunder)  of  twenty-five  percent  (25%) or more of the  outstanding  voting
securities of the Parent by any person,  trust, entity or group. This limitation
shall not apply to the purchase of shares by  underwriters  in connection with a
public  offering of Parent stock,  or the purchase of shares of up to 25% of any
class of securities of the Parent by a tax-qualified employee stock benefit plan
which is  exempt  from the  approval  requirements,  set  forth  under 12 C.F.R.
ss.574.3(c)(1)(vi)  as now in effect or as may  hereafter  be amended.  The term
"person"  means  an  individual  other  than  the  Employee,  or a  corporation,
partnership,   trust,   association,   joint  venture,  pool,  syndicate,   sole
proprietorship,  unincorporated  organization  or any other  form of entity  not
specifically listed herein.

         (b)  Notwithstanding  any  other  provision  of this  Agreement  to the
contrary except as provided at Sections 4(b),  4(c),  4(d), 4(e) and 5, Employee
may voluntarily terminate his employment under this Agreement within twelve (12)
months  following a Change in Control of the Bank or Parent,  and Employee shall
thereupon be entitled to receive the payment and  benefits  described in Section
3(a) of this Agreement,  upon the occurrence,  or within one year thereafter, of
any of the following events,  which have not been consented to in advance by the
Employee in  writing:  (i) if  Employee  would be required to move his  personal
residence or perform his principal

                                       2

<PAGE>

executive functions more than thirty-five (35) miles from the Employee's primary
office  as of the  signing  of this  Agreement;  (ii)  if in the  organizational
structure  of the Bank or  Parent,  Employee  would be  required  to report to a
person or persons other than the  President of the Bank or Parent;  (iii) if the
Bank or Parent  should fail to maintain  the  Employee's  base  compensation  in
effect as of the date of the Change in Control and  existing  employee  benefits
plans,  including  material fringe benefit,  stock option and retirement  plans,
except to the  extent  that such  reduction  in benefit  programs  is part of an
overall  adjustment in benefits for all employees of the Bank or Parent and does
not disproportionately  adversely impact the Employee; (iv) if Employee would be
assigned duties and  responsibilities  other than those normally associated with
his position as referenced  at Section 1, herein,  for a period of more than six
months; or (v) if Employee's  responsibilities or authority have in any way been
materially diminished or reduced for a period of more than six months.

         4.       Other Changes in Employment Status.
                  ----------------------------------

         (a) Except as provided for at Section 3, herein, the Board of Directors
may terminate the  Employee's  employment at any time with or without Just Cause
within its sole discretion.  This Agreement shall not be deemed to give Employee
any right to be  retained  in the  employment  or  service  of the  Bank,  or to
interfere with the right of the Bank to terminate the employment of the Employee
at any time. The Employee shall have no right to receive  compensation  or other
benefits for any period after termination for Just Cause.  Termination for "Just
Cause" shall include termination because of the Employee's personal  dishonesty,
incompetence,  willful  misconduct,  breach of fiduciary duty involving personal
profit,  intentional failure to perform stated duties,  willful violation of any
law, rule or regulation  (other than traffic  violations or similar offenses) or
final  cease-and-desist  order,  or  material  breach  of any  provision  of the
Agreement.

         (b) If the  Employee  is removed  and/or  permanently  prohibited  from
participating  in the  conduct of the Bank's  affairs by an order  issued  under
Sections  8(e)(4) or 8(g)(1) of the Federal  Deposit  Insurance Act ("FDIA") (12
U.S.C.  1818(e)(4) and (g)(1)), all obligations of the Bank under this Agreement
shall terminate, as of the effective date of the order, but the vested rights of
the parties shall not be affected.

         (c) If the Bank is in default (as  defined in Section  3(x)(1) of FDIA)
all obligations  under this Agreement shall terminate as of the date of default,
but this  paragraph  shall not  affect  any  vested  rights  of the  contracting
parties.

         (d) All obligations under this Agreement shall be terminated, except to
the extent  determined that  continuation of this Agreement is necessary for the
continued  operation  of the Bank:  (i) by the

                                       3
<PAGE>

Director of the Office of Thrift Supervision  ("Director of OTS"), or his or her
designee,  at the time that the Federal Deposit Insurance  Corporation  ("FDIC")
enters into an agreement to provide assistance to or on behalf of the Bank under
the authority contained in Section 13(c) of FDIA; or (ii) by the Director of the
OTS, or his or her designee, at the time that the Director of the OTS, or his or
her  designee  approves  a  supervisory  merger to resolve  problems  related to
operation of the Bank or when the Bank is  determined by the Director of the OTS
to be in an unsafe or unsound  condition.  Any rights of the  parties  that have
already vested, however, shall not be affected by such action.

     (e) Notwithstanding  anything herein to the contrary,  any payments made to
the Employee  pursuant to the Agreement,  or otherwise,  shall be subject to and
conditioned  upon  compliance  with  12  U.S.C.ss.1828(k)  and  any  regulations
promulgated thereunder.

         5.  Suspension  of  Employment.  If the  Employee is  suspended  and/or
             ---------------------------
temporarily  prohibited from  participating in the conduct of the Bank's affairs
by a notice  served  under  Section  8(e)(3)  or (g)(1)  of the FDIA (12  U.S.C.
1818(e)(3)  and (g)(1)),  the Bank's  obligations  under the Agreement  shall be
suspended as of the date of service,  unless stayed by appropriate  proceedings.
If the charges in the notice are  dismissed,  the Bank may within its discretion
(i) pay the Employee all or part of the compensation withheld while its contract
obligations were suspended and (ii) reinstate any of its obligations  which were
suspended.

         6.       Successors and Assigns.
                  ----------------------

         (a) This  Agreement  shall inure to the benefit of and be binding  upon
any corporate or other  successor of the Bank which shall  acquire,  directly or
indirectly,   by  merger,   consolidation,   purchase  or   otherwise,   all  or
substantially all of the assets or stock of the Bank.

         (b) The Employee  shall be precluded  from  assigning or delegating his
rights or duties  hereunder  without first  obtaining the written consent of the
Bank.

         7.  Amendments.  No amendments or additions to this Agreement  shall be
             -----------
binding  upon the  parties  hereto  unless  made in  writing  and signed by both
parties, except as herein otherwise specifically provided.

         8.  Applicable  Law. This  agreement  shall be governed by all respects
             ----------------
whether as to validity, construction, capacity, performance or otherwise, by the
laws of the State of  Maryland,  except to the extent that  Federal law shall be
deemed to apply. Notwithstanding anything herein to the contrary, all provisions
of the Agreement shall be subject to and conditioned upon compliance with 12 CFR
563.39(b).

                                       4
<PAGE>

         9.  Severability.  The  provisions  of this  Agreement  shall be deemed
             ------------
severable and the  invalidity  or  unenforceability  of any provision  shall not
affect the validity or enforceability of the other provisions hereof.

         10. Arbitration. Any controversy or claim arising out of or relating to
             ------------
this  Agreement,  or the breach  thereof,  shall be settled  by  arbitration  in
accordance  with the rules then in effect of the district office of the American
Arbitration  Association  ("AAA")  nearest to the home  office of the Bank,  and
judgment upon the award rendered may be entered in any court having jurisdiction
thereof,  except to the extend  that the parties  may  otherwise  reach a mutual
settlement of such issue. The Bank shall incur the cost of all fees and expenses
associated  with filing a request for  arbitration  with the AAA,  whether  such
filing  is  made on  behalf  of the  Bank or the  Employee,  and the  costs  and
administrative  fees  associated  with  employing  the  arbitrator  and  related
administrative  expenses assessed by the AAA. The Bank shall reimburse  Employee
for all reasonable  costs and expenses,  including  reasonable  attorneys' fees,
arising from such dispute, proceedings or actions, following the delivery of the
decision  of the  arbitrator.  Further,  the  settlement  of the  dispute  to be
approved by the Board of the Bank or the Parent may include a provision  for the
reimbursement by the Bank or Parent to the Employee for all reasonable costs and
expenses,  including  reasonable  attorneys'  fees,  arising from such  dispute,
proceedings  or  actions,  or the Board of the Bank or the Parent may  authorize
such reimbursement of such reasonable costs and expenses by separate action upon
a written  action and  determination  of the Board  following  settlement of the
dispute.  Such  reimbursement  shall be paid  within  ten (10) days of  Employee
furnishing to the Bank or Parent evidence, which may be in the form, among other
things,  of a canceled  check or receipt,  of any costs or expenses  incurred by
Employee.

         11. Entire Agreement. This Agreement together with any understanding or
             -----------------
modifications  thereof as agreed to in writing by the parties,  shall constitute
the entire agreement between the parties hereto.

                                       5Exhibit 4.2

CNH Global N.V.
Outside Directors' Compensation Plan

(As Amended and Restated on April 18, 2000)

         This Outside Directors' Compensation Plan (the "Plan") has
been established by action of the CNH Global N.V. of Amsterdam, the
Netherlands (the "Company") Board of Directors (the "Board") effective
as of the date the Plan is approved by the Board.

         1. Introduction. The purpose of the Plan is to provide for
(i) the payment of the annual retainer fee and committee chair fee
(collectively, the "Annual Fees") to independent outside members of
the Board ("Outside Directors") in the form of common shares of the
Company ("Common Shares"); (ii) an annual grant of options to purchase
Common Shares; and (iii) an opportunity to convert all or a portion of
their Annual Fees into stock options.

         2. Eligibility. Subject to the terms and conditions of the
Plan, each Outside Director shall be a participant in the Plan. Each
Outside Director shall be entitled to receive Annual Fees and meeting
fees as determined by the Chairman of the Board in accordance with
Article 12 of the Company's Articles of Association, which Annual Fees
and meeting fees, as in effect from time to time, shall be reflected
on Appendix A, attached hereto.

         3. Stock Grants. Subject to the terms and conditions of the
Plan, including Sections 4 and 5 hereof, the Annual Fees payable to an
Outside Director shall be paid in accordance with this Section 3. As
of (i) February 29, 2000, (ii) the day immediately preceding the date
of the 2000 Annual General Meeting of the Company's shareholders, and
(iii) the last day of each Plan Year Quarter (as described below)
thereafter, each Outside Director shall be granted automatically a
number of Common Shares equal in value to 25% of the annual retainer
fee, and if he or she is a committee chair 25% of the annual committee
chair fee, each as listed in Appendix A, attached hereto, as amended
from time to time in accordance with the amendment procedures of the
Plan.

         (a)   Fair Market Value. The value of each Common Share (the
               "Fair Market Value") shall be determined as of the last
               business day of the Plan Year Quarter for which it is
               granted and shall be equal to the average of the
               highest and lowest sales price a Common Share on the
               Composite Tape for such date as reported by the
               National Quotations Bureau Incorporated; provided that,
               if no sales of Common Shares are included on the
               Composite Tape for such date, the Fair Market Value of
               a share of Common Shares on such date shall be deemed
               to be the average of the highest and lowest

<PAGE>

               prices of a Common Share as reported on said Composite
               Tape for the next preceding day on which sales of
               Common Shares are included.

         (b)   Proration For Partial Services. If the Outside Director
               is not a member of the Board or a committee chair
               during an entire Plan Year Quarter, the retainer and
               committee chair fees to which he or she is entitled as
               well as his or her award of Shares for that Quarter
               shall be reduced, pro rata, to reflect the portion of
               the Quarter in which he or she was not an Outside
               Director or committee chair, as the case may be.

         (c)   Fractional Shares. An Outside Director shall be
               entitled to a whole Share for any fractional Share to
               which he or she would otherwise be entitled for any
               Plan Year Quarter under the foregoing provisions of
               this Section 3.

         (d)   Plan Year. For purposes of the Plan, the term "Plan
               Year" means the period beginning on the date of the
               Company's Annual General Meeting of shareholders and
               ending on the day immediately prior to the first day of
               the following Plan Year. For any Plan Year, the first
               Plan Year Quarter shall begin on the first day of the
               Plan Year, and shall end on the 90th day of the Plan
               Year; the second Plan Year Quarter shall begin on the
               91st day of the Plan Year, and shall end on the 180th
               day of the Plan Year; the third Plan Year Quarter shall
               begin on the 181st day of the Plan Year, and shall end
               on the 270th day of the Plan Year; and the fourth Plan
               Year Quarter shall begin on the 271st day of the Plan
               Year, and shall end on the last day of the Plan Year.

         4. Cash Election. Subject to the terms and conditions of the
Plan, an Outside Director may irrevocably elect, by filing a form with
the Secretary of the Company (the "Secretary") in such form as the
Secretary may from time to time require, to receive a portion of his
or her Annual Fees for any Plan Year in cash, provided that an Outside
Director may not elect to receive more than 50% of the Annual Fees in
cash. For the Plan Year ending in 2000, any such election must be
filed prior to February 29, 2000. For any Plan Year thereafter, such
election must be filed prior to the first day of such Plan Year.
Notwithstanding the foregoing provisions of this Section 4, an
individual who becomes an Outside Director after the first day of a
Plan Year may irrevocably elect, by filing a form with the Secretary
in such form as the Secretary may from time to time require prior to
the date on which he or she first becomes an Outside Director, to
receive a portion of his or her Annual Fees for the remainder of the
Plan Year in which he or she first becomes an Outside Director in
cash, up to a maximum of 50% of such Annual Fees for the remainder of
the Plan Year.

                                  2
<PAGE>

         5. Options. Subject to the terms and conditions of the Plan,
each Outside Director will be awarded stock options under the Plan in
accordance with the following:

         (a)   Automatic Option Grants. Each individual who is an
               Outside Director on the date the Plan is approved by
               the Board shall be granted automatically as of that
               date an option to acquire 3,750 Common Shares.
               Thereafter, each individual who is an Outside Director
               on the date of the Annual General Meeting of the
               Company's shareholders shall be granted automatically
               as of that date an option to purchase that number of
               Common Shares listed in Appendix A (the "Automatic
               Option Grant"), attached hereto as amended from time to
               time in accordance with the amendment procedures of the
               Plan. Each individual who becomes an Outside Director
               other than on the date of an Annual General Meeting of
               the Company's shareholders shall receive an Automatic
               Option Grant reduced pro rata to reflect the portion of
               the Plan Year elapsed prior to the date on which the
               individual first became an Outside Director, provided
               that any fractional share resulting from such reduction
               shall be rounded up to a whole share.

         (b)   Elective Option Grants. For the period beginning on the
               date the Plan is approved by the Board and ending on
               the last day of the Plan Year ending in the year 2000
               and for any Plan Year beginning thereafter, each
               Outside Director, by filing a written "Option Election"
               with the Secretary in such form as the Secretary may
               from time to time require, may elect to forego payment
               of all or any portion of the Annual Fees otherwise
               payable to him or her during such period or for any
               such Plan Year, as applicable, and to instead receive,
               as of each date on which such Annual Fees would
               otherwise have been paid to him or her (each an
               "Elective Grant Date"), an option to purchase that
               number of Common Shares equal to the quotient (rounded
               to the nearest whole number of shares) of (1) divided
               by (2) where:

               (1)   is the product of the amount of the Annual Fees
                     that would otherwise have been paid to the
                     Outside Director on the applicable Elective Grant
                     Date which are subject to his or her Option
                     Election, multiplied by four; and

               (2)   is the Fair Market Value of a Common Share on the
                     applicable Elective Grant Date.

         Each option granted pursuant to this paragraph (b) shall be
         referred to herein as an "Elective Option Grant" and, where
         appropriate, will be referred to collectively with an
         Automatic Option Grant as an "Option

                                  3
<PAGE>

         Grant". An Outside Director's Option Election shall be
         effective with respect to Annual Fees otherwise payable to
         him or her for services rendered after the last day of the
         Plan Year in which such election is filed with the Secretary;
         provided, however, that:

               (A)   each Outside Director may make an Option Election
                     prior to February 29, 2000 with respect to Annual
                     Fees payable during the period beginning on the
                     date the Plan is approved by the Board and ending
                     on the last day of the Plan Year ending in the
                     year 2000;

               (B)   if an individual becomes an Outside Director on
                     or after the first day of a Plan Year and files
                     an Option Election with the Secretary prior to
                     the date on which he or she first becomes an
                     Outside Director, his or her Option Election
                     shall be effective with respect to Annual Fees
                     otherwise payable to him or her for services
                     rendered on and after the day on which he or she
                     first becomes an Outside Director; and

               (C)   by notice filed with the Secretary, an Outside
                     Director may terminate or modify any Option
                     Election as to Annual Fees payable for services
                     rendered after the last day of the Plan Year in
                     which such notice is filed with the Secretary.

         (c)   Reload Stock Options. "Reload Stock Options" shall be
               awarded to an Outside Director when and if he or she
               pays the Option Price under an Option Grant, described
               above, by delivery of Common Shares on the settlement
               date for such exercise. A Reload Stock Option entitles
               its holder to purchase the number of Common Shares so
               delivered for an Option Price equal to the Fair Market
               Value of a share of Common Stock on such settlement
               date. No more than one Reload Stock Option shall be
               granted to an Outside Director in any twelve-month
               period, the maximum number of Reload Stock Options that
               may be granted to an Outside Director with respect to
               any Option Grant is five, and no Reload Stock Options
               will be issued within six months prior to the scheduled
               expiration date of the Option Grant to which it
               relates. Notwithstanding the above, no Reload Stock
               Option shall be granted unless the recipient is an
               Outside Director of the Company at the time of delivery
               of Common Shares. Notwithstanding any other provision
               hereof, a Reload Stock Option shall not become
               exercisable until six months after its award date and
               its maximum term will terminate at the time specified
               hereunder for the Option Grant to which it relates.

                                  4
<PAGE>

For purposes of the Plan, Automatic Option Grants, Elective Option
Grants and Reload Stock Options are sometimes referred to herein
collectively as "Stock Options".

         6.    Terms of Option Grants.

         (a)   Option Agreement. Each Stock Option shall be evidenced
               by a written stock option agreement which shall be
               executed by the Outside Director and the Company and
               which shall contain such terms and conditions as are
               consistent with this Plan.

         (b)   Exercise price. The exercise price for a Common Share
               under an Option Grant shall be 100% of the Fair Market
               Value of Common Share on the date the Option Grant is
               made.

         (c)   Commencement of Exercisability. Each Automatic Option
               Grant made under the Plan shall become exercisable on
               the third anniversary of the grant date or, if earlier,
               with respect to Automatic Option Grants that have been
               outstanding at least six months, the date the
               individual ceases to be an Outside Director for any
               reason other than removal for cause by the Company's
               shareholders. Each Elective Option Grant shall be
               immediately exercisable upon grant but Common Shares
               purchased upon exercise of an Elective Option Grant may
               not be sold until the date which is at least six months
               after the date such Elective Option Grant is made.

         (d)   Term. Each Option Grant shall terminate upon the
               earlier of (i) ten years after the date of grant or
               (ii) six months after the date an individual ceases to
               be an Outside Director.

         (e)   Death of Outside Director. Notwithstanding paragraph
               6(c) above, the Automatic Option Grants and Reload
               Stock Options that have been awarded to an Outside
               Director whose Board membership is terminated due to
               death shall be immediately exercisable. Notwithstanding
               paragraph (d) above, the Outside Director's designated
               beneficiary or estate if no beneficiary has been
               designated may exercise any Stock Options within the
               six-month period following the death of the Outside
               Director.

         (f)   Total Disability of Outside Director. Notwithstanding
               paragraphs 6(c) or 6(d) above, the Automatic Option
               Grants and Reload Stock Options that have been awarded
               to an Outside Director whose Board membership is
               terminated due to Total Disability shall be immediately
               exercisable and all Stock Options shall remain
               exercisable within the six-month period following the

                                  5
<PAGE>

               Outside Director's termination for Total Disability.
               For purposes of this provision, "Total Disability"
               means the permanent inability (as determined by the
               Outside Director's medical doctor) of the Outside
               Director which is a result of accident or sickness, to
               perform the duties of a director of the Company.

         (g)   Change of Control. Notwithstanding paragraphs 6(c) or
               6(d) above, the Automatic Option Grants and Reload
               Stock Options that have been awarded to an Outside
               Director shall be immediately exercisable and all Stock
               Options shall remain exercisable for a six-month period
               if a change of control (as determined by the Board of
               Directors) of the Company or of the majority
               shareholder of the Company occurs. Notwithstanding the
               above, Stock Options that are awarded within six months
               of the date the change of control occurs shall not be
               subject to this provision.

         7. Manner of Payment of Option Price. The Option Price shall
be paid in full at the time of the exercise of any Stock Option and
may be paid in any of the following methods or combinations thereof:

         (a)   in United States dollars, in cash, check, bank draft or
               money order payable to the order of the Company;

         (b)   by the tendering, either by actual delivery or by
               attestation, Common Shares acceptable to the Board (but
               excluding any shares acquired from the Company unless
               such shares were acquired and vested more than six
               months prior to the date tendered under this clause
               (b)) having an aggregate Fair Market Value on the date
               of such exercise equal to the Option Price; or

         (c)   in any other manner that the Board shall approve,
               including without limitation any arrangement that the
               Board may establish to enable Outside Directors to
               simultaneously exercise Stock Options and sell the
               Common Shares acquired thereby and apply the proceeds
               to the payment of the Option Price therefor.

         8. Plan Administration. The Plan shall be administered by the
Nominating and Compensation Committee of the Board (the "Committee").

         9. Shares Subject to Plan. Subject to the provisions of
Section 10, the number of Common Shares which may be subject to awards
under the Plan shall not exceed 1,000,000 shares. Common Shares issued
under the Plan may be authorized but unissued shares or treasury
shares. If any Shares are subject to an award under the Plan that
expires, is cancelled or is forfeited,

                                  6
<PAGE>

such Common Shares shall again become available for issuance under the
Plan.

         10. Adjustments and Reorganizations. In the event of any
merger, reorganization, consolidation, recapitalization, separation,
liquidation, stock dividend, extraordinary dividend, spin-off,
split-up, share combination, or other change in the corporate
structure of the Company affecting the Common Shares, the number and
kind of shares that may be delivered under the Plan shall be subject
to such equitable adjustment as the Committee, in its sole discretion,
may deem appropriate in order to preserve the benefits or potential
benefits to be made available under the Plan, and the number and kind
and price of shares subject to outstanding Stock Options and the
option price and any other terms of outstanding Stock Options or Stock
Grants shall be subject to such equitable adjustment as the Committee,
in its sole discretion, may deem appropriate in order to prevent
dilution or enlargement of outstanding Stock Options or Stock Grants.

         11. Transferability of Awards. No awards under the Plan shall
be assignable, alienable, saleable or otherwise transferable other
than by will or the laws of descent.

         12. No Right of Continued Service. Participation in the Plan
does not give any director the right to be retained as a director of
the Company or any right or claim to any benefit under the Plan unless
such right or claim has specifically accrued under the terms of the
Plan.

         13. Governing Law. The validity, construction and effect of
the Plan, and any actions taken or relating to the Plan, shall be
determined in accordance with the laws of the State of Delaware,
U.S.A.

         14. Successors and Assigns. The Plan shall be binding on all
successors and assigns of an Outside Director, including, without
limitation, the estate of such director and the executor,
administrator or trustee of such estate, or any receiver or trustee in
bankruptcy or representative of the director's creditors.

         15. Rights as a Shareholder. A director shall have no rights
as a shareholder of the Company with respect to shares awarded under
the Plan or subject to options awarded under the Plan until he or she
becomes the holder of record of Common Shares.

         16. Amendment. The Plan and any attachments thereto may be
amended by action of the Board.

         17. General Restrictions. Notwithstanding any other provision
of the Plan, the Company shall have no liability to deliver any Common
Shares under

                                  7
<PAGE>

the Plan unless such delivery or distribution would comply with all
applicable laws (including, without limitation, the requirements of
the United States Securities Act of 1933), and are authorized for
listing on any securities exchange on which the Common Shares of the
Company are listed. To the extent that the Plan provides for the
issuance of Common Shares, the issuance may be effected on a
non-certificated basis, to the extent not prohibited by applicable law
or the applicable rules of any stock exchange on which the Common
Shares of the Company are listed.

                                  8
<PAGE>

Appendix A

(Effective as of the date the Plan is approved by the Board)

Annual Retainer fee:                                            $35,000
Annual Committee Chair fee:                                     $ 5,000
Board or Committee meeting fee:                                 $ 1,250*
Automatic Option Grant:                                    7,500 Shares

         For the Plan Year ending in the year 2000, eligible directors
will be entitled to 50% of the Annual Retainer Fee and Annual
Committee Chair Fee. The fees are payable in two equal installments,
one as of February 29, 2000 and the other as of the day immediately
preceding the date of the 2000 Annual General Meeting of the Company's
shareholders.

* Payable only in cash for each meeting attended.

CNH Global N.V. Outside Directors' Compensation Plan
April 18, 2000

                                  9

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00018-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00018-of-00352.parquet"}]]