Document:

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                                                                   EXHIBIT 10.6

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                            ADMINISTRATION AGREEMENT

                                      among

                    HARLEY-DAVIDSON MOTORCYCLE TRUST 2001-1,

                                   as Issuer,

                          HARLEY-DAVIDSON CREDIT CORP.,

                                as Administrator

                     HARLEY-DAVIDSON CUSTOMER FUNDING CORP.,

                               as Trust Depositor,

                                       and

                           BNY MIDWEST TRUST COMPANY,

                              as Indenture Trustee

                            Dated as of April 1, 2001

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<TABLE>
<CAPTION>
                                TABLE OF CONTENTS
<S>            <C>                                                                                <C>
SECTION 1.     DUTIES OF THE ADMINISTRATOR........................................................2

SECTION 2.     RECORDS............................................................................8

SECTION 3.     COMPENSATION.......................................................................8

SECTION 4.     ADDITIONAL INFORMATION TO BE FURNISHED TO THE ISSUER...............................8

SECTION 5.     INDEPENDENCE OF THE ADMINISTRATOR..................................................8

SECTION 6.     NO JOINT VENTURE...................................................................9

SECTION 7.     OTHER ACTIVITIES OF ADMINISTRATOR..................................................9

SECTION 8.     TERM OF AGREEMENT; RESIGNATION AND REMOVAL OF ADMINISTRATOR........................9

SECTION 9.     ACTION UPON TERMINATION, RESIGNATION OR REMOVAL...................................10

SECTION 10.    NOTICES...........................................................................10

SECTION 11.    AMENDMENTS........................................................................11

SECTION 12.    SUCCESSORS AND ASSIGNS............................................................11

SECTION 13.    GOVERNING LAW.....................................................................11

SECTION 14.    HEADINGS..........................................................................12

SECTION 15.    COUNTERPARTS......................................................................12

SECTION 16.    SEVERABILITY......................................................................12

SECTION 17.    NOT APPLICABLE TO HARLEY-DAVIDSON CREDIT IN OTHER CAPACITIES......................12

SECTION 18.    LIMITATION OF LIABILITY OF OWNER TRUSTEE AND
               INDENTURE RUSTEE..................................................................12

SECTION 19.    THIRD-PARTY BENEFICIARY...........................................................12

SECTION 20.    SURVIVABILITY.....................................................................13
</TABLE>

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        This Administration Agreement, dated as of April 1, 2001, among
Harley-Davidson Motorcycle Trust 2001-1 (the "ISSUER"), Harley-Davidson
Credit Corp. (together with its successors and assigns "HARLEY-DAVIDSON
CREDIT") in its capacity as administrator, the "ADMINISTRATOR"),
Harley-Davidson Customer Funding Corp. (the "TRUST DEPOSITOR") and BYN
Midwest Trust Company, not in its individual capacity but solely as Indenture
Trustee (together with its successors and assigns, the "INDENTURE TRUSTEE").

                              W I T N E S S E T H:

         WHEREAS, the Issuer is issuing 4.65% Harley-Davidson Motorcycle
Contract, Class A-1 Notes, 5.27% Harley-Davidson Motorcycle Contract, Class A-2
Notes and 5.29% Harley-Davidson Motorcycle Contract, Class B Notes
(collectively, the "NOTES") pursuant to the Indenture, dated as of the date
hereof (the "INDENTURE"), between the Issuer and the Indenture Trustee
(capitalized terms used herein that are not otherwise defined shall have the
meanings ascribed thereto in the Indenture);

         WHEREAS, the Issuer has entered into certain agreements in connection
with the issuance of the Notes including (i) a Sale and Servicing Agreement,
dated as of the date hereof (the "SALE AND SERVICING AGREEMENT"), among the
Issuer, BNY Midwest Trust Company, not in its individual capacity but as
Indenture Trustee, the Trust Depositor and Harley-Davidson Credit, as servicer
(in such capacity, the "SERVICER"), and (ii) the Indenture (collectively
referred to hereinafter as the "TRANSACTION DOCUMENTS");

         WHEREAS, pursuant to the Transaction Documents, the Issuer and the
Owner Trustee are required to perform certain duties in connection with (i) the
Notes and the collateral therefor pledged pursuant to the Indenture (the
"COLLATERAL") and (ii) the beneficial ownership interest in the Issuer (the
registered holder of such interest being referred to herein as the "OWNER");

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

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

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

         SECTION 1. DUTIES OF THE ADMINISTRATOR.

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         (a)      Duties with respect to the Indenture.

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

                  (A) the duty to cause the Note Register to be kept and to give
         the Indenture Trustee notice of any appointment of a new Note Registrar
         and the location, or change in location, of the Note Register (Section
         2.04);

                  (B) the notification of Noteholders of the final principal
         payment on their Notes (Section 2.07(b));

                  (C) the fixing or causing to be fixed of any special record
         date and the notification of the Indenture Trustee and Noteholders with
         respect to special payment dates, if any (Section 2.07(c));

                  (D) the preparation of or obtaining of the documents and
         instruments required for execution and authentication of the Notes and
         delivery of the same to the Indenture Trustee (Section 2.02);

                  (E) the preparation, obtaining or filing of the instruments,
         opinions and certificates and other documents required for the release
         of Collateral (Section 2.12);

                  (F) the maintenance of an office in the City of Chicago,
         Illinois, for registration of transfer or exchange of Notes (Section
         3.02);

                  (G) the duty to cause newly appointed Paying Agents, if any,
         to deliver to the Indenture Trustee the instrument specified in the
         Indenture regarding funds held in trust (Section 3.03);

                  (H) the direction to the Indenture Trustee to deposit monies
         with Paying Agents, if any, other than the Indenture Trustee (Section
         3.03);

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                  (I) the obtaining and preservation of the Issuer's
         qualification to do business in each jurisdiction in which such
         qualification is or shall be necessary to protect the validity and
         enforceability of the Indenture, the Notes, the collateral and each
         other instrument and agreement included in the Collateral (Section
         3.04);

                  (J) the preparation of all supplements and amendments to the
         Indenture and all financing statements, continuation statements,
         instruments of further assurance and other instruments and the taking
         of such other action as is necessary or advisable to protect the
         Collateral other than as prepared by the Servicer (Section 3.05);

                  (K) the delivery of the Opinion of Counsel on the Closing Date
         and certain other statements as to compliance with the Indenture
         (Sections 3.06 and 3.09);

                  (L) the identification to the Indenture Trustee in an
         Officer's Certificate of a Person with whom the Issuer has contracted
         to perform its duties under the Indenture (Section 3.07(b));

                  (M) the notification of the Indenture Trustee and each Rating
         Agency of an Event of Termination under the Sale and Servicing
         Agreement;

                  (N) the duty to cause the Servicer to comply with Sections
         4.09, 4.10, 4.11 and 5.07 and Article Five and Article Nine of the Sale
         and Servicing Agreement (Section 3.14);

                  (O) the preparation and obtaining of documents and instruments
         required for the release of the Issuer from its obligations under the
         Indenture (Section 3.10(b) and Section 3.11(b));

                  (P) the delivery of written notice to the Indenture Trustee
         and each Rating Agency of each Event of Default under the Indenture and
         each Event of Termination by the Servicer under the Sale and Servicing
         Agreement (Section 3.18);

                  (Q) the monitoring of the Issuer's obligations as to the
         satisfaction and discharge of the Indenture and the preparation of an
         Officer's Certificate and the obtaining of the Opinion of Counsel and
         the Independent Certificate relating thereto (Section 4.01);

                  (R) the compliance with any written directive of the Indenture
         Trustee with respect to the sale of the Collateral in a commercially
         reasonable manner if an Event of Default shall have occurred and be
         continuing (Section 5.04);

                  (S) the preparation and delivery of notice to Noteholders of
         the removal of the Indenture Trustee and the appointment of a successor
         Indenture Trustee (Section 6.08);

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                  (T) the preparation of any written instruments required to
         confirm more fully the authority of any co-trustee or separate trustee
         and any written instruments necessary in connection with the
         resignation or removal of the Indenture Trustee or any co-trustee or
         separate trustee (Sections 6.08 and 6.10);

                  (U) the furnishing of the Indenture Trustee with the names and
         addresses of Noteholders during any period when the Indenture Trustee
         is not the Note Registrar (Section 7.01);

                  (V) the opening of one or more accounts in the Indenture
         Trustee's name, the preparation and delivery of Issuer Orders,
         Officer's Certificates and Opinions of Counsel and all other actions
         necessary with respect to investment and reinvestment of funds in the
         Trust Accounts (Sections 8.02 and 8.03);

                  (W) the preparation of an Issuer Request and Officer's
         Certificate and the obtaining of an Opinion of Counsel and Independent
         Certificates, if necessary, for the release of the Collateral (Sections
         8.04 and 8.05);

                  (X) the preparation of Issuer Orders and the obtaining of
         Opinions of Counsel with respect to the execution of supplemental
         indentures and the mailing to the Noteholders of notices with respect
         to such supplemental indentures (Sections 9.01, 9.02 and 9.03);

                  (Y) the execution and delivery of new Notes conforming to any
         supplemental indenture (Section 9.06);

                  (Z) the duty to notify Noteholders of redemption of the Notes
         or to cause the Indenture Trustee to provide such notification (Section
         10.02);

                  (AA) the preparation and delivery of all Officer's
         Certificates, Opinions of Counsel and Independent Certificates with
         respect to any requests by the Issuer to the Indenture Trustee to take
         any action under the Indenture (Section 11.01(a));

                  (BB) the preparation and delivery of Officer's Certificates
         and the obtaining of Independent Certificates, if necessary, for the
         release of property from the lien of the Indenture (Section 11.01(b));

                  (CC) the notification of the Rating Agencies, upon the failure
         of the Issuer, the Owner Trustee or the Indenture Trustee to provide
         notification;

                  (DD) the preparation and delivery to Noteholders and the
         Indenture Trustee of any agreements with respect to alternate payment
         and notice provisions (Section 11.06);

                  (EE) the recording of the Indenture, if applicable (Section
         11.14); and

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                  (FF) the appointment of a successor Indenture Trustee.

                  (ii) The Administrator will:

                  (A) except as otherwise expressly provided in the Indenture,
         pay the Indenture Trustee's fees and reimburse the Indenture Trustee
         upon its request for all reasonable expenses, disbursements and
         advances incurred or made by the Indenture Trustee in accordance with
         any provision of the Indenture (including the reasonable compensation,
         expenses and disbursements of its agents and counsel), except any such
         expense, disbursement or advance as may be attributable to its
         negligence or bad faith;

                  (B) indemnify the Indenture Trustee and its agents for, and
         hold them harmless against, any loss, liability or expense incurred
         without negligence or bad faith on their part, arising out of or in
         connection with the acceptance or administration of the transactions
         contemplated by the Indenture, including the reasonable costs and
         expenses of defending themselves against any claim or liability in
         connection with the exercise or performance of any of their powers or
         duties under the Indenture; and

                  (C) indemnify the Owner Trustee and its agents for, and hold
         them harmless against, any loss, liability or expense incurred without
         negligence or bad faith on their part, arising out of or in connection
         with the acceptance or administration of the transactions contemplated
         by the Trust Agreement, including the reasonable costs and expenses of
         defending themselves against any claim or liability in connection with
         the exercise or performance of any of their powers or duties under the
         Trust Agreement.

         (b)      ADDITIONAL DUTIES.

                  (i) In addition to the duties set forth in Section 1(a)(i),
         the Administrator shall perform such calculations and shall prepare or
         shall cause the preparation by other appropriate persons of, and shall
         execute on behalf of the Issuer or the Owner Trustee, all such
         documents, reports, filings, instruments, certificates and opinions
         that the Issuer or the Owner Trustee are required to prepare, file or
         deliver pursuant to the Transaction Documents or under Section 5.05 of
         the Trust Agreement, and at the request of the Owner Trustee shall take
         all appropriate action that the Issuer or the Owner Trustee are
         required to take pursuant to the Transaction Documents. In furtherance
         thereof, the Owner Trustee shall, on behalf of the Issuer, execute and
         deliver to the Administrator and to each successor Administrator
         appointed pursuant to the terms hereof, one or more powers of attorney
         substantially in the form of EXHIBIT A hereto, appointing the
         Administrator the attorney-in-fact of the Issuer for the purpose of
         executing on behalf of the Owner Trustee and the Issuer all such
         documents, reports, filings, instruments, certificates and opinions.
         Subject to Section 5, and in accordance with the directions of the
         Issuer, the Administrator shall administer, perform or supervise the
         performance of

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         such other activities in connection with the Collateral (including the
         Transaction Documents) as are not covered by any of the foregoing
         provisions and as are expressly requested by the Issuer and are
         reasonably within the capability of the Administrator.

                  (ii) Notwithstanding anything in this Agreement or the
         Transaction Documents to the contrary, the Administrator shall be
         responsible for promptly notifying the Owner Trustee in the event that
         any withholding tax is imposed on the Trust's payments (or allocations
         of income) to the Owner as contemplated in Section 5.01(c) of the Trust
         Agreement. Any such notice shall specify the amount of any withholding
         tax required to be withheld by the Owner Trustee pursuant to such
         provision.

                  (iii) Notwithstanding anything in this Agreement or the
         Transaction Documents to the contrary, the Administrator shall be
         responsible for performance of the duties of the Owner Trustee set
         forth in Section 5.05(a), (b), (c) and (d), the penultimate sentence of
         Section 5.05 and Section 5.06(a) of the Trust Agreement with respect
         to, among other things, accounting and reports to the Owner; PROVIDED,
         HOWEVER, that the Owner Trustee shall retain responsibility for the
         distribution of information forms necessary to enable the Owner to
         prepare its federal and state income tax returns.

                  (iv) The Administrator shall satisfy its obligations with
         respect to clauses (ii) and (iii) above by retaining, at the expense of
         the Trust payable by the Administrator, a firm of independent public
         accountants (the "ACCOUNTANTS") acceptable to the Owner Trustee, which
         shall perform the obligations of the Administrator thereunder.

                  (v) The Administrator shall perform the duties of the
         Administrator specified in Section 10.02 of the Trust Agreement
         required to be performed in connection with the resignation or removal
         of the Owner Trustee, and any other duties expressly required to be
         performed by the Administrator under the Trust Agreement.

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

         (c)      NON-MINISTERIAL MATTERS.

                  (i) With respect to matters that in the reasonable judgment of
         the Administrator are non-ministerial, the Administrator shall not take
         any action unless within a reasonable time before the taking of such
         action, the Administrator shall have notified the Owner Trustee of the
         proposed action and the Owner Trustee shall not have

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         withheld consent or provided an alternative direction. For the purpose
         of the preceding sentence, "NON-MINISTERIAL MATTERS" shall include,
         without limitation:

                  (A) the amendment of or any supplement to the Indenture;

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

                  (C) the amendment, change or modification of any other
         Transaction Documents;

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

                  (E) the removal of the Indenture Trustee.

                  (ii) Notwithstanding anything to the contrary in this
         Agreement, the Administrator shall not be obligated to, and shall not,
         (A) make any payments to the Noteholders under the Transaction
         Documents, (B) sell the Collateral pursuant to clause (iv) of Section
         5.04 of the Indenture, (C) take any other action that the Issuer
         directs the Administrator not to take on its behalf or (D) take any
         other action which may be construed as having the effect of varying the
         investment of the Holders.

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

         SECTION 3. COMPENSATION. As compensation for the performance of the
Administrator's obligations under this Agreement and as reimbursement for its
expenses related thereto, the Administrator shall be entitled to a monthly
fee which shall be solely an obligation of the Trust Depositor and shall be
in an amount as shall be agreeable to the Trust Depositor and the
Administrator.

         SECTION 4. ADDITIONAL INFORMATION TO BE FURNISHED TO THE ISSUER. The
Administrator shall furnish to the Issuer from time to time such additional
information regarding the Collateral as the Issuer shall reasonably request.

         SECTION 5. INDEPENDENCE OF THE ADMINISTRATOR. For all purposes of
this Agreement, the Administrator shall be an independent contractor and
shall not be subject to the supervision

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of the Issuer or the Owner Trustee with respect to the manner in which it
accomplishes the performance of its obligations hereunder. Unless expressly
authorized by the Issuer, the Administrator shall have no authority to act
for or represent the Issuer or the Owner Trustee in any way and shall not
otherwise be deemed an agent of the Issuer or the Owner Trustee.

         SECTION 6. NO JOINT VENTURE. Nothing contained in this Agreement (i)
shall constitute the Administrator and either of the Issuer or the Owner
Trustee as members of any partnership, joint venture, association, syndicate,
unincorporated business or other separate entity, (ii) shall be construed to
impose any liability as such on any of them or (iii) shall be deemed to
confer on any of them any express, implied or apparent authority to incur any
obligation or liability on behalf of the others.

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

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

         (a)      Subject to Section 8(d) and Section 8(e), the Administrator
may resign its duties hereunder by providing the Issuer with at least 60 days'
prior written notice.

         (b)      Subject to Section 8(d) and Section 8(e), the Issuer may
remove the Administrator without cause by providing the Administrator with at
least 60 days' prior written notice.

         (c)      Subject to Section 8(d) and Section 8(e), at the sole option
of the Issuer, the Administrator may be removed immediately upon written notice
of termination from the Issuer to the Administrator if any of the following
events shall occur:

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

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

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         (iii)    the Administrator shall commence a voluntary case under any
applicable bankruptcy, insolvency or other similar law now or hereafter in
effect, shall consent to the entry of an order for relief in an involuntary case
under any such law, or shall consent to the appointment of a receiver,
liquidator, assignee, trustee, custodian, sequestrator or similar official for
the Administrator or any substantial part of its property, shall consent to the
taking of possession by any such official of any substantial part of its
property, shall make any general assignment for the benefit of creditors or
shall fail generally to pay its debts as they become due.

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

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

         (e)      The appointment of any successor Administrator shall be
effective only after the satisfaction of the Rating Agency Condition with
respect to the proposed appointment.

         (f)      Subject to Section 8(d) and 8(e), the Administrator
acknowledges that upon the appointment of a Successor Servicer pursuant to the
Sale and Servicing Agreement, the Administrator shall immediately resign and
such Successor Servicer shall automatically become the Administrator under this
Agreement.

         SECTION 9. ACTION UPON TERMINATION, RESIGNATION OR REMOVAL. Promptly
upon the effective date of termination of this Agreement pursuant to Section
8 or the resignation or removal of the Administrator pursuant to Section
8(a), (b) or (c) respectively, the Administrator shall be entitled to be paid
all fees and reimbursable expenses accruing to it to the date of such
termination, resignation or removal. The Administrator shall forthwith upon
such termination pursuant to Section 8 deliver to the Issuer all property and
documents of or relating to the Collateral then in the custody of the
Administrator. In the event of the resignation or removal of the
Administrator pursuant to Section (a), (b) or (c), respectively, the
Administrator shall cooperate with the Issuer and take all reasonable steps
requested to assist the Issuer in making an orderly transfer of the duties of
the Administrator.

         SECTION 10. NOTICES. All notices, demands, certificates, requests
and communications hereunder ("notices") shall be in writing and shall be
effective (a) upon receipt when sent through the U.S. mails, registered or
certified mail, return receipt requested, postage prepaid, with such receipt
to be effective the date of delivery indicated on the return receipt, or (b)
one Business Day after delivery to an overnight courier, or (c) on the date
personally delivered to an Authorized Officer of the party to which sent, or
(d) on the date transmitted by legible telecopier

                                     -10-

<PAGE>

transmission with a confirmation of receipt, in all cases addressed to the
recipient at the address for such recipient set forth in the Sale and
Servicing Agreement.

         Each party hereto may, by notice given in accordance herewith to each
of the other parties hereto, designate any further or different address to which
subsequent notices shall be sent.

         SECTION 11. AMENDMENTS. This Agreement may be amended from time to
time by a written amendment duly executed and delivered by the parties
hereto, with the written consent of the Owner Trustee but without the consent
of the Noteholders, for the purpose of adding any provisions to or changing
in any manner or eliminating any of the provisions of this Agreement or of
modifying in any manner the rights of the Noteholders; provided that such
amendment will not, in the Opinion of Counsel satisfactory to the Indenture
Trustee, materially and adversely affect the interest of any Noteholder. This
Agreement may also be amended by the parties hereto with the written consent
of the Owner Trustee and the Required Holders for the purpose of adding any
provisions to or changing in any manner or eliminating any of the provisions
of this Agreement or of modifying in any manner the rights of Noteholders;
PROVIDED, HOWEVER, that no such amendment may (i) increase or reduce in any
manner the amount of, or accelerate or delay the timing of, collections of
payments on the Contracts or distributions that are required to be made for
the benefit of the Noteholders or (ii) reduce the aforesaid percentage of the
holders of Notes which are required to consent to any such amendment, without
the consent of the holders of all outstanding Notes. Notwithstanding the
foregoing, the Administrator may not amend this Agreement without the
permission of the Trust Depositor, which permission shall not be unreasonably
withheld.

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

         SECTION 13. GOVERNING LAW. THIS AGREEMENT SHALL BE CONSTRUED IN
ACCORDANCE WITH THE LAWS OF THE STATE OF ILLINOIS, WITHOUT REFERENCE TO ITS
CONFLICT OF LAW PROVISIONS, AND THE OBLIGATIONS,

                                     -11-

<PAGE>

RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN
ACCORDANCE WITH SUCH LAWS.

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

         SECTION 15. COUNTERPARTS. This Agreement may be executed in several
counterparts, each of which shall be an original and all of which shall
constitute but one and the same agreement.

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

         SECTION 17. NOT APPLICABLE TO HARLEY-DAVIDSON CREDIT IN OTHER
CAPACITIES. Nothing in this Agreement shall affect any obligation
Harley-Davidson Credit may have in any other capacity.

         SECTION 18. LIMITATION OF LIABILITY OF OWNER TRUSTEE AND INDENTURE
TRUSTEE.

         (a) Notwithstanding anything contained herein to the contrary, this
instrument has been countersigned by Wilmington Trust Company not in its
individual capacity but solely in its capacity as Owner Trustee of the Issuer
and in no event shall Wilmington Trust Company in its individual capacity or any
beneficial owner of the Issuer have any liability for the representations,
warranties, covenants, agreements or other obligations of the Issuer hereunder,
as to all of which recourse shall be had solely to the assets of the Issuer. For
all purposes of this Agreement, in the performance of any duties or obligations
of the Issuer hereunder, the Owner Trustee shall be subject to, and entitled to
the benefits of, the terms and provisions of Articles Six, Seven and Eight of
the Trust Agreement.

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

         SECTION 19. THIRD-PARTY BENEFICIARY. The Owner Trustee is a
third-party beneficiary to this Agreement and is entitled to the rights and
benefits hereunder and may enforce the provisions hereof as if it were a
party hereto.

                                     -12-

<PAGE>

         SECTION 20. SURVIVABILITY. The obligations of the Administrator
described in Section 1(a)(ii) hereof shall survive termination of this
Agreement.

                            [signature page follows]

                                     -13-

<PAGE>

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

                                  HARLEY-DAVIDSON MOTORCYCLE TRUST 2001-1

                                  By:  Wilmington Trust Company, not in its
                                       individual capacity but solely as Owner
                                       Trustee

                                  By:  /s/ PATRICIA A. EVANS
                                      -----------------------------------------
                                      Printed Name: Patricia A. Evans
                                      Title: Senior Financial Services Officer

                                  HARLEY-DAVIDSON CUSTOMER FUNDING CORP., as
                                  Trust Depositor

                                  By:  /s/ PERRY A. GLASSGOW
                                      -----------------------------------------
                                      Printed Name: Perry A. Glassgow
                                      Title: Treasurer

                                  BNY MIDWEST TRUST COMPANY, not in its
                                  individual capacity but solely as Indenture
                                  Trustee

                                  By:  /s/ ROBERT D. FOLTZ
                                      -----------------------------------------
                                      Printed Name: Robert D. Foltz
                                      Title: Vice President

                                  HARLEY-DAVIDSON CREDIT CORP., as Administrator

                                  By:  /s/ PERRY A. GLASSGOW
                                      -----------------------------------------
                                      Printed Name: Perry A. Glassgow
                                      Title: Treasurer

                  Signature Page to Adminstration Agreement

<PAGE>

                                    EXHIBIT A

                            LIMITED POWER OF ATTORNEY

State of Illinois.)
                  )        SS.
County of Cook    )

         KNOW ALL PERSONS BY THESE PRESENTS, that Wilmington Trust Company, a
Delaware banking corporation (the "OWNER TRUSTEE"), whose principal executive
office is located at Wilmington Trust Company, Rodney Square North, 1100 North
Market Street, Wilmington, Delaware Attention: Trust Administration, by and
through its duly elected and authorized officer, ________________________, a
___________________, on behalf of itself and of Harley-Davidson Motorcycle Trust
2001-1 (the "TRUST") as Issuer under the Administration Agreement, dated as of
April 1, 2001 (the "ADMINISTRATION AGREEMENT"), among the Trust, Harley-Davidson
Customer Funding Corp., BNY Midwest Trust Company, as Indenture Trustee, and
Harley-Davidson Credit Corp., as Administrator, does hereby nominate, constitute
and appoint Harley-Davidson Credit Corp., a Nevada corporation, each of its
officers from time to time and each of its employees authorized by it from time
to time to act hereunder, jointly and each of them severally, together or acting
alone, its true and lawful attorney-in-fact, for the Owner Trustee and the
Issuer in their name, place and stead, in the sole discretion of such
attorney-in-fact, to perform such calculations and prepare or cause the
preparation by other appropriate persons of, and to execute on behalf of the
Issuer or the Owner Trustee, all such documents, reports, filings, instruments,
certificates and opinions that the Issuer or the Owner Trustee is required to
prepare, file or deliver pursuant to the Administration Agreement, and to take
any and all other action, as such attorney-in-fact may deem necessary or
desirable in accordance with the directions of the Owner Trustee and in
connection with its duties as Administrator or successor Administrator under the
Administration Agreement. Capitalized terms used herein that are not otherwise
defined shall have the meanings ascribed thereto in the Administration
Agreement.

         The Owner Trustee hereby ratifies and confirms the execution, delivery
and performance (whether before or after the date hereof) of the above-mentioned
documents, reports, filings, instruments, certificates and opinions, by the
attorney-in-fact and all that the attorney-in-fact shall lawfully do or cause to
be done by virtue hereof.

         The Owner Trustee hereby agrees that no person or other entity dealing
with the attorney-in-fact shall be bound to inquire into such attorney-in-fact's
power and authority

                                      A-1

<PAGE>

hereunder and any such person or entity shall be fully protected in relying
on such power of authority.

         This Limited Power of Attorney may not be assigned without the prior
written consent of the Owner Trustee. It is effective immediately and will
continue until it is revoked.

         This Limited Power of Attorney shall be governed and construed in
accordance with the laws of the State of Illinois without reference to
principles of conflicts of law.

         Executed as of this _____ day of April, 2001.

                                Wilmington Trust Company, not in its individual

                                capacity but solely as Owner Trustee

                                 By: _____________________________________

                                     Printed Name: _______________________

                                     Title: ______________________________

<PAGE>

                        CERTIFICATE OF ACKNOWLEDGMENT OF

                                  NOTARY PUBLIC

State of Delaware       )
                        )  SS.
County of New Castle    )

         On April ___, 2001 before me, _________________________________________
                                        [Insert name and title of notary]
         personally appeared ________________________.

| |      personally known to me, or

| |      proved to me on the basis of satisfactory evidence to be the person(s)
 whose name(s) is/are

subscribed to the within instrument and acknowledged to me that he/she/they
executed the same in his/her/their authorized capacity(ties), and that by
his/her/their signature(s) on the instrument the person(s), or the entity upon
behalf of which person(s) acted, executed the instrument.

                                  WITNESS my hand and official seal.

       Signature: ________________________________________
                           [SEAL]<PAGE>

                                                                     EXHIBIT 4.3
                               RIGHTS AGREEMENT

     This RIGHTS AGREEMENT, dated as of _____________, 2001 (this "Agreement"),
is made and entered into by and between Equifax PS, Inc., a Georgia corporation
(the "Company"), and SunTrust Bank, Atlanta, a Georgia banking corporation (the
"Rights Agent").

                                   RECITALS

     WHEREAS, on ___________, 2001, the Board of Directors of the Company
authorized and declared a dividend distribution of one right ("Right") for each
share of Common Stock, par value $.01 per share, of the Company (a "Common
Share") outstanding as of the Close of Business (as hereinafter defined) on
___________, 2001 (the "Record Date"), each Right initially representing the
right to purchase one Common Share, upon the terms and subject to the conditions
herein set forth, and further authorized and directed the issuance of one Right
with respect to each Common Share issued or delivered by the Company (whether
originally issued or delivered from the Company's treasury) after the Record
Date but prior to the earlier of the Distribution Date (as hereinafter defined)
and the Expiration Date (as hereinafter defined).

     NOW THEREFORE, in consideration of the premises and the mutual agreements
herein set forth, the parties hereby agree as follows:

     Section 1.  Certain Definitions.  For purposes of this Agreement, the
following terms shall have the meanings indicated:

     (a) "Acquiring Person" shall mean any Person (other than the Company or any
Subsidiary of the Company or any employee benefit or stock ownership plan of the
Company or of any Subsidiary of the Company or any entity holding Common Shares
for or pursuant to the terms of any such plan or, prior to the Spinoff Date,
Equifax Inc. or any of its Affiliates or Associates) who or which, together with
all Affiliates and Associates of such Person, shall be the Beneficial Owner of
15% or more of the Common Shares then outstanding; provided, however, that a
Person shall not be deemed to have become an Acquiring Person solely as a result
of a reduction in the number of Common Shares outstanding or solely as  a result
of any acquisition that is approved in advance by the Board of Directors of the
Company, in each case unless and until such time as (i) such Person or any
Affiliate or Associate of such Person shall thereafter become the Beneficial
Owner of any additional Common Shares, other than as a result of a stock
dividend, stock split or similar transaction effected by the Company in which
all holders of Common Shares are treated equally or in a transaction that is
approved in advance by the Board of Directors, or (ii) any other Person who is
the Beneficial Owner of any Common Shares shall thereafter become an Affiliate
or Associate of such Person.   Notwithstanding the foregoing, if the Board of
Directors determines in good faith that a Person who otherwise would be an
Acquiring Person as defined under the foregoing provisions of this Section 1(a)
has become such inadvertently, and such Person has divested or agrees to divest
as promptly as practicable (as determined by the Board of Directors of the
Company) a sufficient number of Common Shares so that such Person would no
longer be an Acquiring Person as defined under the foregoing provisions, then
such Person shall not be deemed an Acquiring Person for any purposes of this
<PAGE>

Agreement unless and until such Person shall again become an Acquiring Person as
herein defined.

     (b) "Affiliate" and "Associate" shall have the respective meanings ascribed
to such terms in Rule 12b-2 of the General Rules and Regulations under the
Exchange Act, as in effect on the date of this Agreement.

     (c) A Person shall be deemed the Beneficial Owner of, and to  "beneficially
own," any securities:

               (i) which such Person or any of such Person's Affiliates or
          Associates, directly or indirectly, has the right to acquire (whether
          such right is exercisable immediately or only after the passage of
          time) pursuant to any agreement, arrangement or understanding (whether
          or not in writing), or upon the exercise of conversion rights,
          exchange rights, rights, warrants or options, or otherwise (in each
          case, other than upon exercise or exchange of the Rights); provided,
          however, that a Person shall not be deemed the Beneficial Owner of, or
          to beneficially own, securities tendered pursuant to a tender or
          exchange offer made by or on behalf of such Person or any of such
          Person's Affiliates or Associates until such tendered securities are
          accepted for purchase or exchange; or

               (ii) which such Person or any of such Person's Affiliates or
          Associates, directly or indirectly, has the right to vote or dispose
          of, including pursuant to any agreement, arrangement or understanding
          (whether or not in writing); or

               (iii) of which any other Person is the Beneficial Owner, if such
          Person or any of such Person's Affiliates or Associates has any
          agreement, arrangement or understanding (whether or not in writing)
          with such other Person (or any of such other Person's Affiliates or
          Associates) with respect to acquiring, holding, voting or disposing of
          any securities of the Company;  provided, however, that a Person shall
          not be deemed the Beneficial Owner of, or to beneficially own, any
          security (A) if such Person has the right to vote such security
          pursuant to an agreement, arrangement or understanding (whether or not
          in writing) which (1) arises solely from a revocable proxy given to
          such Person in response to a public proxy or consent solicitation made
          pursuant to, and in accordance with, the applicable rules and
          regulations of the Exchange Act and (2) is not also then reportable on
          Schedule 13D under the Exchange Act (or any comparable or successor
          report), or (B) if such beneficial ownership arises solely as a result
          of such Person's status as a "clearing agency", as defined in Section
          3(a)(23) of the Exchange Act; and provided, further, that nothing in
          this paragraph (c) shall cause a Person engaged in business as an
          underwriter of securities to be the Beneficial Owner of, or to
          beneficially own, any securities acquired through such Person's
          participation in good faith in an underwriting syndicate until the
          expiration of 40 calendar days after the date of such acquisition, or
          such later date as the Board of Directors of the Company may determine
          in any specific case.

                                       2
<PAGE>

     (d) "Business Day" shall mean any day other than a Saturday,  Sunday or a
day on which banking institutions in the State of Georgia (or such other state
in which the principal office of the Rights Agent is located) are authorized or
obligated by law or executive order to close.

     (e) "Close of Business" on any given date shall mean 5:00 P.M.,  Eastern
time, on such date; provided, however, that if such date is not a Business Day
it shall mean 5:00 P.M., Eastern time, on the next succeeding Business Day.

     (f) "Common Shares" when used with reference to the Company shall  mean the
Common Stock, par value $.01 per share, of the Company; provided, however, that,
if the Company is the continuing or surviving corporation in a transaction
described in Section 11(a)(ii) or Section 13(a)(ii) hereof, "Common Shares" when
used with reference to the Company shall mean the capital stock or equity
security with the greatest aggregate voting power of the Company. Common Shares
when used with reference to any corporation or other legal entity, other than
the Company, including an Issuer, shall mean the capital stock or equity
security with the greatest aggregate voting power of such corporation or other
legal entity.

     (g) "Company" shall mean Equifax PS, Inc., a Georgia corporation.

     (h) "Distribution Date" shall mean the earliest of: (i) the Close of
Business on the tenth calendar day (or, unless the Distribution Date shall have
previously occurred, such later date as may be specified by the Board of
Directors of the Company) after the Share Acquisition Date, (ii) the Close of
Business on the tenth Business Day (or, unless the Distribution Date shall have
previously occurred, such later date as may be specified by the Board of
Directors of the Company) after the date of the commencement of a tender or
exchange offer by any Person (other than the Company or any Subsidiary of the
Company or any employee benefit or stock ownership plan of the Company or of any
Subsidiary of the Company or any entity holding Common Shares for or pursuant to
the terms of any such plan), if upon the consummation thereof such Person would
be the Beneficial Owner of 15% or more of the outstanding Common Shares, and
(iii) the Close of Business on the tenth calendar day after the first date of
public announcement by the Company or an Acquiring Person (by press release,
filing made with the Securities and Exchange Commission or otherwise) of the
first occurrence of a Triggering Event; provided, however, that if the earliest
of such dates would otherwise occur prior to the Record Date, the Distribution
Date shall mean the Close of Business on the Record Date.

     (i) "Exchange Act" shall mean the Securities Exchange Act of 1934,  as
amended.

     (j) "Expiration Date" shall mean the earliest of (i) the Close of Business
on the Final Expiration Date, (ii) the time at which the Rights are redeemed as
provided in Section 23 hereof, and (iii) the time at which all exercisable
Rights are exchanged as provided in Section 27 hereof.

     (k) "Final Expiration Date" shall mean the tenth anniversary of  the Record
Date.

     (l) "Flip-in Event" shall mean any event described in clauses (A) (B) or
(C) of Section 11(a)(ii) hereof.

                                       3
<PAGE>

     (m) "Flip-over Event" shall mean any event described in  subsections (i),
(ii), (iii) or (iv) of Section 13(a) hereof.

     (n) "Issuer" shall have the meaning set forth in Section 13(b) hereof.

     (o) "NASDAQ" shall mean the National Association of Securities Dealers,
Inc. Automated Quotation System.

     (p) "NYSE" shall mean the New York Stock Exchange, Inc.

     (q) "Person" shall mean any individual, firm, corporation, partnership or
other legal entity, and shall include any successor (by merger or otherwise) of
such entity.

     (r) "Purchase Price" shall mean initially [$___] per Common Share, and
shall be subject to further adjustment from time to time as provided in this
Agreement.

     (s) "Redemption Price" shall mean $0.01 per Right, subject to adjustment by
resolution of the Board of Directors of the Company to reflect any stock split,
stock dividend or similar transaction occurring after the date hereof.

     (t) "Right" shall have the meaning set forth in the Recitals to  this
Agreement.

     (u) "Right Certificates" shall mean certificates evidencing the  Rights, in
substantially the form of Exhibit A attached hereto.

     (v) "Rights Agent" shall mean SunTrust Bank, Atlanta, unless and  until a
successor Rights Agent shall have become such pursuant to the terms of this
Agreement, and thereafter, "Rights Agent" shall mean such successor Rights
Agent.

     (w) "Securities Act" shall mean the Securities Act of 1933, as  amended.

     (x) "Share Acquisition Date" shall mean the first date of public
announcement by the Company or an Acquiring Person (by press release, filing
made with the Securities and Exchange Commission or otherwise) that an Acquiring
Person has become such.

     (y) "Spinoff Date" shall mean the time at which Equifax Inc. shall
distribute all of the Common Shares of the Company it owns to its shareholders
pursuant to the Distribution Agreement, Plan of Reorganization and Distribution
dated as of _____ __, 2001, as amended or supplemented from time to time.

     (z) "Subsidiary" when used with reference to any Person shall  mean any
corporation or other legal entity of which a majority of the voting power of the
voting equity securities or equity interests is owned, directly or indirectly,
by such Person; provided, however, that for purposes of Section 13(b) hereof,
Subsidiary when used with reference to any Person shall mean

                                       4
<PAGE>

any corporation or other legal entity of which at least 20% of the voting power
of the voting equity securities or equity interests is owned, directly or
indirectly, by such Person.

     (aa) "Summary of Rights" shall mean the Summary of Rights to  Purchase
Common Shares, in substantially the form of Exhibit B attached hereto.

     (bb) "Trading Day" shall mean any day on which the principal national
securities exchange on which the Common Shares are listed or admitted to trading
is open for the transaction of business or, if the Common Shares are not listed
or admitted to trading on any national securities exchange, a Business Day.

     (cc) "Triggering Event" shall mean any Flip-in Event or Flip-over Event.

     Section 2.  Appointment of Rights Agent. The Company hereby appoints the
Rights Agent to act as agent for the Company and the holders of the Rights (who,
in accordance with Section 3 hereof, shall also be, prior to the Distribution
Date, the holders of the Common Shares) in accordance with the terms and
conditions hereof, and the Rights Agent hereby accepts such appointment and
hereby certifies that it complies with the requirements of the NYSE governing
transfer agents and registrars. The Company may from time to time act as Co-
Rights Agent or appoint such Co-Rights Agents as it may deem necessary or
desirable. Any actions which may be taken by the Rights Agent pursuant to the
terms of this Agreement may be taken by any such Co-Rights Agent. To the extent
that any Co-Rights Agent takes any action pursuant to this Agreement, such Co-
Rights Agent shall be entitled to all of the rights and protections of and
subject to all of the applicable duties and obligations imposed upon, the Rights
Agent pursuant to the terms of this Agreement.

     Section 3.  Issue of Right Certificates.

     (a) Until the Distribution Date, (i) the Rights shall be evidence by the
certificates representing Common Shares registered in the names of the record
holders thereof (which certificates representing Common Shares shall also be
deemed to be Right Certificates), together with a copy of the Summary of Rights,
(ii) the Rights shall be transferable only in connection with the transfer of
the underlying Common Shares, and (iii) the surrender for transfer of any
certificates evidencing Common Shares in respect of which Rights have been
issued, with or without a copy of the Summary of Rights, shall also constitute
the transfer of the Rights associated with the Common Shares evidenced by such
certificates.

     (b) As promptly as practicable after the Record Date, the Company shall
send a copy of the Summary of Rights by first-class, postage prepaid mail, to
each record holder of Common Shares as of the close of business on the Record
Date, at the address of such holder shown on the records of the Company as of
such date.

     (c) Rights shall be issued by the Company in respect of all Common Shares
(other than Common Shares issued upon the exercise or exchange of any Right)
issued or delivered by the Company (whether originally issued or

                                       5
<PAGE>

delivered from the Company's treasury) after the Record Date but prior to the
earlier of the Distribution Date and the Expiration Date. Certificates
evidencing such Common Shares shall have stamped on, impressed on, printed on,
written on or otherwise affixed to them the following legend or such similar
legend as the Company may deem appropriate and as is not inconsistent with the
provisions of this Agreement, or as may be required to comply with any
applicable law or with any rule or regulation made pursuant thereto or with any
rule or regulation of any stock exchange or transaction reporting system on
which the Common Shares may from time to time be listed or quoted, or to conform
to usage:

            This Certificate also evidences and entitles the holder hereof to
      certain Rights as set forth in a Rights Agreement between Equifax PS, Inc.
      and SunTrust Bank, Atlanta, dated as of ___________, 2001 (the "Rights
      Agreement"), the terms of which are hereby incorporated herein by
      reference and a copy of which is on file at the principal executive
      offices of Equifax PS, Inc. Under certain circumstances, as set forth in
      the Rights Agreement, such Rights may be redeemed, may expire, may be
      amended or may be evidenced by separate certificates and no longer be
      evidenced by this Certificate. Equifax PS, Inc. will mail to the holder of
      this Certificate a copy of the Rights Agreement without charge promptly
      after receipt of a written request therefor. Under certain circumstances
      as set forth in the Rights Agreement, Rights beneficially owned by an
      Acquiring Person or any Affiliate or Associate of an Acquiring Person (as
      such terms are defined in the Rights Agreement) may become null and void.

      (d) As promptly as practicable after the Distribution Date, the Company
shall prepare and execute, the Rights Agent will countersign and the Company
shall send or cause to be sent (and the Rights Agent shall, if requested, send),
by first-class, insured, postage prepaid mail, to each record holder of Common
Shares as of the Close of Business on the Distribution Date, at the address of
such holder shown on the records of the Company, a Right Certificate, evidencing
one Right for each Common Share so held, subject to adjustment. As of and after
the Distribution Date, the Rights shall be evidenced solely by such Right
Certificates.

      Section 4.  Form of Right Certificates. (a) The Right Certificates (and
the form of election to purchase and form of assignment to be printed on the
reverse thereof) shall be substantially in the form set forth as Exhibit A
hereto with such changes, marks of identification or designation and such
legends, summaries or endorsements printed thereon as the Company may deem
appropriate and as are not inconsistent with the provisions of this Agreement,
or as may be required to comply with any applicable law or with any rule or
regulation made pursuant thereto or with any rule or regulation of any stock
exchange or transaction reporting system on which the Rights may from time to
time be listed or quoted, or to conform to usage. Subject to the provisions of
Section 22 hereof, the Right Certificates, whenever issued, on their face shall
entitle the holders thereof to purchase such number of Common Shares as shall be
set forth therein at the Purchase Price set forth therein, but the Purchase
Price, the number and kind of securities

                                       6
<PAGE>

issuable upon exercise of each Right and the number of Rights outstanding shall
be subject to adjustment as provided herein.

     (b) Any Rights Certificate issued hereunder that represents Rights
beneficially owned by (i) an Acquiring Person or any Associate or Affiliate of
an Acquiring Person, (ii) a transferee of an Acquiring Person (or an any such
Associate or Affiliate) who becomes a transferee after the Acquiring Person
becomes such, or (iii) a transferee of an Acquiring Person (or of any such
Associate or Affiliate) who becomes a transferee prior to or concurrently with
the Acquiring Person becoming such and receives such Rights pursuant to either
(A) a transfer (whether or not for consideration) from the Acquiring Person to
holders of equity interests in such Acquiring Person or to any Person with whom
such Acquiring Person has any continuing agreement, arrangement or understanding
regarding the transferred Rights or (b) a transfer that the Board of Directors
of the Company has determined is part of a plan, arrangement or understanding
that has the primary purpose or effect the avoidance of Section 7(d) hereof, and
any Right Certificate issued pursuant to Section 6 or Section 11 hereof upon
transfer, exchange, replacement or adjustment of any other Right Certificate
referred to in this sentence, shall contain (to the extent feasible) the
following legend:

      The Rights represented by this Right Certificate are or were beneficially
owned by Person who was or became an Acquiring Person or an Affiliate or
Associate of an Acquiring Person (as such terms are defined in the Rights
Agreement). Accordingly, this Right Certificate and the Rights represented
hereby may become null and void in the circumstances specified in the Rights
Agreement.

     Section 5.  Countersignature and Registration.

      (a) The Right Certificates shall be executed on behalf of the Company by
its Chairman of the Board, President or any Vice President, either manually or
by facsimile signature, and shall have affixed thereto the Company's seal or a
facsimile thereof which shall be attested by the Secretary or an Assistant
Secretary of the Company, either manually or by facsimile signature. The Right
Certificates shall be manually countersigned by the Rights Agent and shall not
be valid for any purpose unless so countersigned. In case any officer of the
Company who shall have signed any of the Right Certificates shall cease to be
such officer of the Company before countersignature by the Rights Agent and
issuance and delivery by the Company, such Right Certificates, nevertheless, may
be countersigned by the Rights Agent, and issued and delivered by the Company
with the same force and effect as though the person who signed such Right
Certificates had not ceased to be such officer of the Company; and any Right
Certificate may be signed on behalf of the Company by any person who, at the
actual date of the execution of such Right Certificate, shall be a proper
officer of the Company to sign such Right Certificate, although at the date of
the execution of this Rights Agreement any such person was not such an officer.

      (b) Following the Distribution Date, the Rights Agent shall keep or cause
to be kept, at the principal office of the Rights Agent designated for such
purpose and at

                                       7
<PAGE>

such other offices as may be required to comply with any applicable law or with
any rule or regulation made pursuant thereto or with any rule or regulation of
any stock exchange or any transaction reporting system on which the Rights may
from time to time be listed or quoted, books for registration and transfer of
the Right Certificates issued hereunder. Such books shall show the names and
addresses of the respective holders of the Right Certificates, the number of
Rights evidenced on its face by each of the Right Certificates and the date of
each of the Right Certificates.

      Section 6.  Transfer, Split Up, Combination and Exchange of Right
Certificates; Mutilated, Destroyed, Lost or Stolen Right Certificates.

      (a) Subject to the provisions of Sections 7(d) and 14 hereof, at any time
after the Close of Business on the Distribution Date and prior to the Expiration
Date, any Right Certificate or Right Certificates representing exercisable
Rights may be transferred, split up, combined or exchanged for another Right
Certificate or Right Certificates, entitling the registered holder to purchase a
like number of Common Shares (or other securities, as the case may be) as the
Right Certificate or Right Certificates surrendered then entitled such holder
(or former holder in the case of a transfer) to purchase. Any registered holder
desiring to transfer, split up, combine or exchange Right Certificates shall
make such request in writing delivered to the Rights Agent, and shall surrender
the Right Certificate or Right Certificates to be transferred, split up,
combined or exchanged at the principal office of the Rights Agent designated for
such purpose. Thereupon or as promptly as practicable thereafter, subject to the
provisions of Sections 7(d) and 14 hereof, the Company shall prepare, execute
and deliver to the Rights Agent, and the Rights Agent shall countersign and
deliver a Right Certificate or Right Certificates, as the case may be, as so
requested. The Company may require payment of a sum sufficient to cover any tax
or governmental charge that may be imposed in connection with any transfer,
split up, combination or exchange of Right Certificates.

      (b) Upon receipt by the Company and the Rights Agent of evidence
reasonably satisfactory to them of the loss, theft, destruction or mutilation of
a Right Certificate, and of indemnity or security reasonably satisfactory to
them, and reimbursement to the Company and the Rights Agent of all reasonable
expenses incidental thereto, and upon surrender to the Rights Agent and
cancellation of the Right Certificate if mutilated, the Company shall prepare,
execute and deliver a new Right Certificate of like tenor to the Rights Agent
and the Rights Agent shall countersign and deliver such new Right Certificate to
the registered holder in lieu of the Right Certificate so lost, stolen,
destroyed or mutilated.

     Section 7. Exercise of Rights; Purchase Price; Expiration Date of Rights.

     (a) The registered holder of any Right Certificate may exercise the Rights
evidenced thereby (except as otherwise provided herein) in whole or in part at
any time after the Distribution Date and prior to the Expiration Date, upon
surrender of the Right Certificate, with the form of election to purchase on the
reverse side thereof duly executed, to the Rights Agent at the office or offices
of the Rights Agent designated for

                                       8
<PAGE>

such purpose, together with payment in cash, in lawful money of the United
States of America by certified check or bank draft payable to the order of the
Company equal to the sum of (i) the aggregate Purchase Price for the total
number of securities as to which such surrendered Rights are exercised and (ii)
an amount equal to any applicable transfer tax required to be paid by the holder
of such Right Certificate in accordance with the provisions of Section 9 hereof.
In lieu of the cash payment referred to in the immediately preceding sentence,
following the occurrence of a Triggering Event, the registered holder of a Right
Certificate may exercise the Rights evidenced thereby (except as otherwise
provided herein) in whole or in part upon surrender of the Right Certificate as
described above together with an election to exercise such Rights without
payment of cash on the reverse side thereof duly completed. With respect to any
Rights as to which such an election is made, the holder shall receive a number
of Common Shares or other securities having a value equal to the difference
between (x) the value of the Common Shares or other securities that would have
been issuable upon payment of the cash amount as described above, and (y) the
sum of items (i) and (ii) above. For purposes of this Section 7(a), the value of
any Common Share or other security shall be the current per share market price
of a Common Share (determined pursuant to Section 11(d) hereof) on the Trading
Day immediately preceding the date of the first occurrence of a Triggering
Event.

     (b) Upon receipt of a Right Certificate representing exercisable Rights
with the form of election to purchase duly executed, accompanied by either
payment as described in Section 7(a) above or a duly completed election to
exercise without payment of cash, the Rights Agent shall promptly (i)
requisition from any transfer agent of the Common Shares (or make available, if
the Rights Agent is the transfer agent) certificates representing the number of
Common Shares to be purchased (and the Company hereby irrevocably authorizes and
directs its transfer agent to comply with all such requests), (ii) after receipt
of such certificates, cause the same to be delivered to or upon the order of the
registered holder of such Right Certificate, registered in such name or names as
may be designated by such holder, (iii) when appropriate, requisition from the
Company or any transfer agent therefor (or make available, if the Rights Agent
is the transfer agent) certificates representing the number of equivalent common
shares to be issued in lieu of the issuance of Common Shares in accordance with
the provisions of Section 11(a)(iii) hereof, (iv) when appropriate, after
receipt of such certificates, cause the same to be delivered to or upon the
order of the registered holder of such Right Certificate, registered in such
name or names as may be designated by such holder, (v) when appropriate,
requisition from the Company the amount of cash to be paid in lieu of the
issuance of fractional shares in accordance with the provisions of Section 14
hereof or in lieu of the issuance of Common Shares in accordance with the
provisions of Section 11(a)(iii) hereof, (vi) when appropriate, after receipt,
deliver such cash to or upon the order of the registered holder of such Right
Certificate, and (vii) when appropriate, deliver any due bill or other
instrument provided to the Rights Agent by the Company for delivery to the
registered holder of such Right Certificate as provided by Section 11(1) hereof.

                                       9
<PAGE>

     (c) In case the registered holder of any Right Certificate shall exercise
less than all the Rights evidenced thereby, the Company shall prepare, execute
and deliver a new Right Certificate evidencing Rights equivalent to the Rights
remaining unexercised and the Rights Agent shall countersign and deliver such
new Right Certificate to the registered holder of such Right Certificate or to
his duly authorized assigns, subject to the provisions of Section 14 hereof.

     (d) Notwithstanding anything in this Agreement to the contrary, from and
after the later of the Distribution Date and the first occurrence of a
Triggering Event, any Rights beneficially owned by (i) an Acquiring Person or an
Associate or Affiliate of an Acquiring Person, (ii) a transferee of an Acquiring
Person (or of any such Associate or Affiliate) who becomes a transferee after
the Acquiring Person becomes such, or (iii) a transferee of an Acquiring Person
(or of any such Associate or Affiliate) who becomes a transferee prior to or
concurrently with the Acquiring Person becoming such and receives such rights
pursuant to either (A) a transfer (whether or not for consideration) from the
Acquiring Person to holders of equity interests in such Acquiring Person or to
any Person with whom the Acquiring Person has any continuing agreement,
arrangement or understanding regarding the transfer of Rights, or (B) a transfer
that the Board of Directors of the Company has determined is part of a plan,
arrangement or understanding that has as a primary purpose or effect the
avoidance of this Section 7(d), shall become null and void without any further
action, no holder of such Rights shall have any rights whatsoever with respect
to such Rights, whether under any provision of this Agreement or otherwise, and
any Right Certificate delivered to the Rights Agent for transfer to an Acquiring
Person or any Affiliate or Associate thereof shall be cancelled. The Company
shall use all reasonable efforts to ensure that the provisions of this Section
7(d) and Section 4(b) hereof are complied with, but shall have no liability to
any holder of Rights Certificates or other Person as a result of its failure to
make any determinations with respect to an Acquiring Person or its Affiliates,
Associates or transferees hereunder.

     (e) Notwithstanding anything in this Agreement to the contrary, neither the
Rights Agent nor the Company shall be obligated to undertake any action with
respect to any purported transfer, split up, combination or exchange of any
Right Certificate pursuant to Section 6 hereof or exercise of a Right
Certificate as set forth in this Section 7 unless the registered holder of such
Right Certificate shall have (i) completed and signed the certificate following
the form of assignment or form of election to purchase, as applicable, set forth
on the reverse side of the Right Certificate surrendered for such transfer,
split up, combination, exchange or exercise, and (ii) provided such additional
evidence of the identity of the Beneficial Owner (or former Beneficial Owner) or
Affiliates or Associates thereof as the Company shall have reasonably requested.

     Section 8. Cancellation and Destruction of Right Certificates. All Right
Certificates surrendered for the purpose of exercise, transfer, split up,
combination or exchange shall, if surrendered to the Company or to any of its
stock transfer agents, be delivered to the Rights Agent for cancellation or in
cancelled form, or, if surrendered to the Rights Agent, shall be cancelled by
it, and no Right Certificates shall be issued in lieu thereof except as
expressly permitted by this Agreement. The Company shall deliver to

                                       10
<PAGE>

the Rights Agent for cancellation and retirement, and the Rights Agent shall so
cancel and retire, any other Right Certificate purchased or acquired by the
Company otherwise than upon the exercise thereof. The Rights Agent shall deliver
all cancelled Right Certificates to the Company, or shall, at the written
request of the Company, destroy such cancelled Right Certificates, and in such
case shall deliver a certificate of destruction thereof to the Company.

     Section 9. Company Covenants Concerning Securities and Rights. The Company
covenants and agrees that:

     (a) So long as the Common Shares issuable upon the exercise of the Rights
may be listed on a national securities exchange, it shall endeavor to cause,
from and after such time as the Rights become exercisable, all securities
reserved for issuance upon the exercise of Rights to be listed on such exchange
upon official notice of issuance.

     (b) It shall take all such action as may be necessary to ensure that all
Common Shares and/or other securities delivered upon exercise of Rights, at the
time of delivery of the certificates for such securities shall be (subject to
payment of the Purchase Price) duly and validly authorized and issued, fully
paid and nonassessable securities.

     (c) It shall pay when due and payable any and all federal and state
transfer taxes and charges that may be payable in respect of the issuance or
delivery of the Right Certificates and of any certificates representing
securities issued upon the exercise of Rights; provided, however, that the
Company shall not be required to pay any transfer tax or charge which may be
payable in respect of any transfer or delivery of Right Certificates to a person
other than, or the issuance or delivery of certificates representing securities
issued upon the exercise of Rights in a name other than that of, the registered
holder of the Right Certificate evidencing Rights surrendered for exercise, or
to issue or deliver any certificates representing securities issued upon the
exercise of any Rights until any such tax or charge shall have been paid (any
such tax or charge being payable by the holder of such Right Certificate at the
time of surrender) or until it has been established to the Company's reasonable
satisfaction that no such tax is due.

     (d) It shall use its best efforts (i) to file on an appropriate form, as
soon as practicable following the later of the first occurrence of a Triggering
Event or the Distribution Date, a registration statement under the Securities
Act with respect to the securities issuable upon exercise of the Rights, (ii) to
cause such registration statement to become effective as soon as practicable
after such filing, and (iii) to cause such registration statement to remain
effective (with a prospectus at all times meeting the requirements of the Act)
until the earlier of (A) the date as of which the Rights are no longer
exercisable for such securities and (B) the Expiration Date. The Company shall
also take such action as may be appropriate under, or to ensure compliance with,
the securities or "blue sky" laws of the various states in connection with the
exercisability of the Rights. The Company may temporarily suspend, for a period
of time after the date set forth in clause (i) of the first sentence of this
Section 9(d), the exercisability of the Rights in order to prepare and file such
registration statement and to permit it to become

                                       11
<PAGE>

effective. Upon any such suspension, the Company shall issue a public
announcement stating that the exercisability of the Rights has been temporarily
suspended, as well as a public announcement at such time as the suspension is no
longer in effect. In addition, if the Company shall determine that a
registration statement should be filed under the Securities Act or any state
securities laws following the Distribution Date, the Company may temporarily
suspend the exercisability of the Rights in each relevant jurisdiction until
such time as a registration statement has been declared effective and, upon any
such suspension, the Company shall issue a public announcement stating that the
exercisability of the Rights has been temporarily suspended, as well as a public
announcement at such time as the suspension is no longer in effect.
Notwithstanding anything in this Agreement to the contrary, the Rights shall not
be exercisable in any jurisdiction if the requisite registration or
qualification in such jurisdiction shall not have been effected or the exercise
of the Rights shall not be permitted under applicable law.

     (e) Notwithstanding anything in this Agreement to the contrary, after the
Distribution Date it shall not, except as permitted by Section 23, 26 or 27
hereof, take (or permit any Subsidiary to take) any action if at the time such
action is taken it is reasonably foreseeable that such action will eliminate or
otherwise diminish the benefits intended to be afforded by the Rights.

     (f) In the event that the Company is obligated to issue other securities of
the Company and/or pay cash pursuant to Section 11, 13 or 14 hereof, it shall
make all arrangements necessary so that such other securities and/or cash are
available for distribution by the Rights Agent, if and when appropriate.

     Section 10. Record Date. Each Person in whose name any certificate
representing Common Shares is issued upon the exercise of Rights shall for all
purposes be deemed to have become the holder of record of the Common Shares
represented thereby on, and such certificate shall be dated, the date upon which
the Right Certificate evidencing such Rights was duly surrendered and payment of
the Purchase Price (and all applicable transfer taxes) was made; provided,
however, that if the date of such surrender and payment is a date upon which the
Common Shares transfer books of the Company are closed, such Person shall be
deemed to have become the record holder of such securities on, and such
certificate shall be dated, the next succeeding Business Day on which the Common
Shares transfer books of the Company are open. Prior to the exercise of the
Rights evidenced thereby, the holder of a Right Certificate shall not be
entitled to any rights of a shareholder of the Company with respect to
securities for which the Rights shall be exercisable, including, without
limitation, the right to vote, to receive dividends or other distributions or to
exercise any preemptive rights, and shall not be entitled to receive any notice
of any proceedings of the Company, except as provided herein.

     Section 11. Adjustment of Purchase Price, Number and Kind of Securities or
Number of Rights. The Purchase Price, the number and kind of securities issuable
upon exercise of each Right and the number of Rights outstanding are subject to
adjustment from time to time as provided in this Section 11.

                                       12
<PAGE>

     (a) (i) In the event that the Company shall at any time after the date of
this Agreement (A) effect a dividend on the Common Shares payable in Common
Shares, (B) subdivide the outstanding Common Shares, (C) combine the outstanding
Common Shares into a smaller number of shares or (D) issue any shares of its
capital stock in a reclassification of the Common Shares (including any such
reclassification in connection with a consolidation or merger in which the
Company is the continuing or surviving corporation), the Purchase Price in
effect at the time of the record date for such dividend or on the effective date
of such subdivision, combination or reclassification, and/or the number and/or
kind of shares of capital stock issuable on such date upon exercise of a Right,
shall be proportionately adjusted so that the holder of any Right exercised
after such time shall be entitled to receive upon payment of the Purchase Price
then in effect the aggregate number and kind of shares of capital stock which,
if such Right had been exercised immediately prior to such date and at a time
when the Common Shares transfer books of the Company were open, the holder of
such Right would have owned upon such exercise and been entitled to receive by
virtue of such dividend, subdivision, combination or reclassification. If an
event occurs which would require an adjustment under both this Section 11(a)(i)
and Section 11(a)(ii) hereof or Section 13 hereof, the adjustment provided for
in this Section 11(a)(i) shall be in addition to, and shall be made prior to,
any adjustment required pursuant to Section 11(a)(ii) or Section 13 hereof.

          (ii) Subject to the provisions of Section 23, 26 or  27 hereof,
     in the event that:

          (A) any Acquiring Person or any Affiliate or Associate of any
     Acquiring Person, at any time after the date of this Agreement, directly or
     indirectly, shall (1) merge into the Company or otherwise combine with the
     Company and the Company shall be the continuing or surviving corporation of
     such merger or combination (other than in a transaction subject to Section
     13 hereof), (2) merge or otherwise combine with any Subsidiary of the
     Company, (3) in one or more transactions (other than in connection with the
     exercise or exchange of Rights or the exercise or conversion of securities
     exercisable for or convertible into shares of any class of capital stock of
     the Company or any of its Subsidiaries) transfer any assets to the Company
     or any of its Subsidiaries in exchange (in whole or in part) for shares of
     any class of capital stock of the Company or any of its Subsidiaries or for
     securities exercisable for or convertible into shares of any class of
     capital stock of the Company or any of its Subsidiaries, or otherwise
     obtain from the Company or any of its Subsidiaries, with or without
     consideration, any additional shares of any class of capital stock of the
     Company or any of its Subsidiaries or securities exercisable for or
     convertible into shares of any class of capital stock of the Company or any
     of its Subsidiaries (other than as part of a pro rata distribution to all
     holders of such shares of any class of capital stock of the Company, or any
     of its Subsidiaries), (4) sell, purchase, lease, exchange, mortgage,
     pledge, transfer or otherwise dispose (in one or more transactions), to,
     from, with or of, as the case may be, the Company or any of its
     Subsidiaries (other than in a transaction subject to Section 13 hereof ),
     assets, including securities, on terms and conditions less favorable to the
     Company than

                                       13
<PAGE>

     the Company would be able to obtain in arm's-length negotiation with an
     unaffiliated third party, (5) receive any compensation from the Company or
     any of its Subsidiaries other than compensation as a director or for full-
     time employment as a regular employee, in either case, at rates in
     accordance with the Company's (or its Subsidiaries') past practices, or (6)
     receive the benefit, directly or indirectly (except proportionately as a
     shareholder), of any loans, advances, guarantees, pledges or other
     financial assistance or any tax credits or other tax advantage provided by
     the Company or any of its Subsidiaries; or

          (B) during such time as there is an Acquiring Person, there shall
     be any reclassification of securities (including any reverse stock split),
     or recapitalization of the Company, or any merger or consolidation of the
     Company with any of its Subsidiaries or any other transaction or series of
     transactions involving the Company or any of its Subsidiaries (whether or
     not with or into or otherwise involving an Acquiring Person), other than a
     transaction subject to Section 13 hereof, which has the effect, directly or
     indirectly, of increasing by more than 1% the proportionate share of the
     outstanding shares of any class of equity securities or of securities
     exercisable for or convertible into equity securities of the Company or any
     of its Subsidiaries of which an Acquiring Person or any Affiliate or
     Associate of any Acquiring Person, is the Beneficial Owner; or

          (C) any Acquiring Person shall at any time after the date of this
     Agreement, become the Beneficial Owner of 20% or more of the Common Shares
     then outstanding (other than pursuant to any transaction set forth in
     Section 13(a) hereof); provided, however, that a Person shall not be deemed
     to have become the Beneficial Owner of 20% or more of the Common Shares
     then outstanding for the purposes of this Section 11(a)(ii)(C) solely as a
     result of a reduction in the number of Common Shares outstanding or solely
     as a result of any acquisition that is approved in advance by the Board of
     Directors of the Company, in each case unless and until such time as (1)
     such Person or any Affiliate or Associate of such Person shall thereafter
     become the Beneficial Owner of any additional Common Shares, other than as
     a result of a stock dividend, stock split or similar transaction effected
     by the Company in which all holders of Common Shares are treated equally or
     in a transaction that is approved in advance by the Board of Directors, or
     (2) any other Person who is the Beneficial Owner of any Common Shares shall
     thereafter become an Affiliate or Associate of such Person; then, and in
     each such case, proper provision shall be made so that each holder of a
     Right, except as provided below, shall thereafter have a right to receive,
     upon exercise thereof in accordance with the terms of this Agreement at an
     exercise price per Right equal to the product of the then-current Purchase
     Price multiplied by the number of Common Shares for which a Right was
     exercisable immediately prior to the first occurrence of a Triggering
     Event, such number of Common Shares as shall equal the result obtained by
     (x) multiplying the then-current Purchase Price by the number of Common
     Shares for which a Right was exercisable immediately prior to the first
     occurrence of a Triggering Event, and dividing that product by (y) 50%

                                       14
<PAGE>

     of the current per share market price of the Common Shares (determined
     pursuant to Section 11(d) hereof) on the date of the first occurrence of a
     Triggering Event.

          (iii)  Upon the occurrence of the Distribution Date or a Flip-in
     Event, if there shall not be sufficient Common Shares authorized but
     unissued or issued but not outstanding to permit the issuance of all the
     Common Shares issuable in accordance with the provisions hereof upon the
     exercise of a Right, the Board of Directors of the Company shall use its
     best efforts promptly to authorize and, subject to the provisions of
     Section 9(d) hereof, make available for issuance additional Common Shares
     or other equity securities of the Company having equivalent voting rights
     and an equivalent value (as determined in good faith by the Board of
     Directors of the Company) to the Common Shares (for purposes of this
     Section 11(a)(iii), "equivalent common shares"). In the event that
     equivalent common shares are so authorized, upon the exercise of a Right in
     accordance with the provisions of Section 7 hereof, the registered holder
     shall be entitled to receive (A) Common Shares, to the extent any are
     available and (B) a number of equivalent common shares, which the Board of
     Directors of the Company shall have determined in good faith to have a
     value equivalent to the excess of (x) the aggregate current per share
     market value of all the Common Shares issuable in accordance with
     subsection (ii) hereof upon the exercise of a Right (the "Exercise Value")
     over (y) the aggregate current per share market value of any Common Shares
     available for issuance upon the exercise of such Right; provided, however,
     that if at any time after 90 calendar days after the first occurrence of a
     Flip-in Event, there shall not be sufficient Common Shares and/or
     equivalent common shares available for issuance upon the exercise of a
     Right, then the Company shall be obligated to deliver, upon the surrender
     of such Right and without requiring payment of the Purchase Price, Common
     Shares (to the extent available), equivalent common shares (to the extent
     available) and then cash (to the extent permitted by applicable law and any
     agreements or instruments to which the Company is a party in effect
     immediately prior to the first occurrence of any Flip-in Event), which
     securities and cash shall have an aggregate value equal to the excess of
     (1) the Exercise Value over (2) the product of the then-current Purchase
     Price multiplied by the number of Common Shares for which a Right was
     exercisable immediately prior to the first occurrence of a Triggering
     Event. To the extent that any legal or contractual restrictions prevent the
     Company from paying the full amount of cash payable in accordance with the
     foregoing sentence, the Company shall pay to holders of the Rights as to
     which such payments are being made all amounts which are not then
     restricted on a pro rata basis and shall continue to make payments on a pro
     rata basis as funds become available until the full amount due to each such
     Rights holder has been paid.

     (b) In the event that the Company shall fix a record date for the issuance
of rights, options or warrants to all holders of Common Shares entitling them
(for a period expiring within 45 calendar days after such record date) to
subscribe for or purchase Common Shares (or securities having equivalent rights,
privileges and preferences as the Common Shares (for purposes of this Section
11(b), "equivalent common shares")) or securities convertible into Common Shares
or equivalent common shares at a price per Common Share or equivalent common
share (or having a conversion price per share, if a security convertible into
Common Shares or equivalent common shares) less than the current per share
market price of the Common

                                       15
<PAGE>

Shares (determined pursuant to Section 11(d) hereof) on such record date, the
Purchase Price to be in effect after such record date shall be determined by
multiplying the Purchase Price in effect immediately prior to such record date
by a fraction, the numerator of which shall be the number of Common Shares
outstanding on such record date plus the number of Common Shares which the
aggregate offering price of the total number of Common Shares and/or equivalent
common shares so to be offered (and/or the aggregate initial conversion price of
the convertible securities so to be offered) would purchase at such current per
share market price and the denominator of which shall be the number of Common
Shares outstanding on such record date plus the number of additional Common
Shares and/or equivalent common shares to be offered for subscription or
purchase (or into which the convertible securities so to be offered are
initially convertible). In case such subscription price may be paid in a
consideration part or all of which shall be in a form other than cash, the value
of such consideration shall be as determined in good faith by the Board of
Directors of the Company, whose determination shall be described in a statement
filed with the Rights Agent. Common Shares owned by or held for the account of
the Company shall not be deemed outstanding for the purpose of any such
computation. Such adjustment shall be made successively whenever such a record
date is fixed; and in the event that such rights, options or warrants are not so
issued, the Purchase Price shall be adjusted to be the Purchase Price which
would then be in effect if such record date had not been fixed.

     (c) In the event that the Company shall fix a record date for the making of
a distribution to all holders of Common Shares (including any such distribution
made in connection with a consolidation or merger in which the Company is the
continuing or surviving corporation) of evidences of indebtedness, cash (other
than a regular periodic cash dividend), assets, stock (other than a dividend
payable in Common Shares) or subscription rights, options or warrants (excluding
those referred to in Section 11(b) hereof), the Purchase Price to be in effect
after such record date shall be determined by multiplying the Purchase Price in
effect immediately prior to such record date by a fraction, the numerator of
which shall be the current per share market price of the Common Shares (as
determined pursuant to Section 11(d) hereof) on such record date or, if earlier,
the date on which Common Shares begin to trade on an ex-dividend or when-issued
basis for such distribution, less the fair market value (as determined in good
faith by the Board of Directors of the Company, whose determination shall be
described in a statement filed with the Rights Agent) of the portion of the
evidences of indebtedness, cash, assets or stock so to be distributed or of such
subscription rights, options or warrants applicable to one Common Share, and the
denominator of which shall be such current per share market price of the Common
Shares. Such adjustments shall be made successively whenever such a record date
is fixed; and in the event that such distribution is not so made, the Purchase
Price shall again be adjusted to be the Purchase Price which would then be in
effect if such record date had not been fixed.

     (d) For the purpose of any computation hereunder, the "current per share
market price" of Common Shares on any date shall be deemed to be the average of
the daily closing prices per share of such Common Shares for the 30 consecutive
Trading Days immediately prior to such date; provided, however, that in the
event that the current per share market price of the Common Shares is determined
during a period following the announcement by the issuer of such Common Shares
of (i) a dividend or distribution on such Common Shares payable in such Common
Shares or securities convertible into such Common Shares (other than the Rights)
or

                                       16
<PAGE>

(ii) any subdivision, combination or reclassification of such Common Shares, and
prior to the expiration of 30 Trading Days after the ex-dividend date for such
dividend or distribution, or the record date for such subdivision, combination
or reclassification, then, and in each such case, the current per share market
price shall be appropriately adjusted to take into account ex-dividend trading
or to reflect the current per share market price per Common Share equivalent.
The closing price for each day shall be the last sale price, regular way, or, in
case no such sale takes place on such day, the average of the closing bid and
asked prices, regular way, in either case as reported in the principal
consolidated transaction reporting system with respect to securities listed or
admitted to trading on the NYSE or, if the Common Shares are not listed or
admitted to trading on the NYSE, as reported in the principal consolidated
transaction reporting system with respect to securities listed on the principal
national securities exchange on which the Common Shares are listed or admitted
to trading or, if the Common Shares are not listed or admitted to trading on any
national securities exchange, the last quoted price or, if not so quoted, the
average of the high bid and low asked prices in the over-the-counter market, as
reported by NASDAQ or such other system then in use, or, if on any such date the
Common Shares are not quoted by any such organization, the average of the
closing bid and asked prices as furnished by a professional market maker making
a market in the Common Shares selected by the Board of Directors of the Company.
If the Common Shares are not publicly held or not so listed or traded, or not
the subject of available bid and asked quotes, "current per share market price"
shall mean the fair value per share as determined in good faith by the Board of
Directors of the Company, whose determination shall be described in a statement
filed with the Rights Agent.

     (e) Except as set forth below, no adjustment in the Purchase Price shall be
required unless such adjustment would require an increase or decrease of at
least 1% in such price; provided, however, that any adjustments which by reason
of this Section 11(e) are not required to be made shall be carried forward and
taken into account in any subsequent adjustment. All calculations under this
Section 11 shall be made to the nearest cent or to the nearest one ten
thousandth of a Common Share or other security, as the case may be.
Notwithstanding the first sentence of this Section 11(e), any adjustment
required by this Section 11 shall be made no later than the earlier of (i) three
years from the date of the transaction which requires such adjustment and (ii)
the Expiration Date.

     (f) If as a result of an adjustment made pursuant to Section 11(a) hereof,
the holder of any Right thereafter exercised shall become entitled to receive
any securities of the Company other than Common Shares, thereafter the number of
such other securities so receivable upon exercise of any Right shall be subject
to adjustment from time to time in a manner and on terms as nearly equivalent as
practicable to the provisions with respect to the Common Shares contained in
this Section 11, and the provisions of Sections 7, 9, 10 and 13 hereof with
respect to the Common Shares shall apply on like terms to any such other
securities.

     (g) All Rights originally issued by the Company subsequent to any
adjustment made to the Purchase Price hereunder shall evidence the right to
purchase, at the adjusted Purchase Price, the number of Common Shares issuable
from time to time hereunder upon exercise of the Rights, all subject to further
adjustment as provided herein.

                                       17
<PAGE>

     (h) Unless the Company shall have exercised its election as  provided in
Section 11(i) hereof, upon each adjustment of the Purchase Price as a result of
the calculations made in Section 11(b) and Section 11(c) hereof made with
respect to a distribution of subscription rights, options or warrants applicable
to Common Shares, each Right outstanding immediately prior to the making of such
adjustment shall thereafter evidence the right to purchase, at the adjusted
Purchase Price, that number of Common Shares (calculated to the nearest one-
thousandth of a Common Share) obtained by (i) multiplying (x) the number of
Common Shares issuable upon exercise of a Right immediately prior to this
adjustment by (y) the Purchase Price in effect immediately prior to such
adjustment of the Purchase Price, and (ii) dividing the product so obtained by
the Purchase Price in effect immediately after such adjustment of the Purchase
Price.

     (i) The Company may elect, on or after the date of any adjustment of the
Purchase Price, to adjust the number of Rights in substitution for any
adjustment in the number of Common Shares issuable upon the exercise of a Right.
Each of the Rights outstanding after such adjustment of the number of Rights
shall be exercisable for the number of Common Shares for which a Right was
exercisable immediately prior to such adjustment. Each Right held of record
prior to such adjustment of the number of Rights shall become that number of
Rights (calculated to the nearest one-thousandth) obtained by dividing the
Purchase Price in effect immediately prior to adjustment of the Purchase Price
by the Purchase Price in effect immediately after adjustment of the Purchase
Price. The Company shall make a public announcement of its election to adjust
the number of Rights, indicating the record date for the adjustment, and, if
known at the time, the amount of the adjustment to be made. This record date may
be the date on which the Purchase Price is adjusted or any day thereafter, but,
if the Right Certificates have been issued, shall be at least 10 calendar days
later than the date of the public announcement. If Right Certificates have been
issued, upon each adjustment of the number of Rights pursuant to this Section
11(i), the Company shall, as promptly as practicable, cause to be distributed to
holders of record of Right Certificates on such record date Right Certificates
evidencing, subject to the provisions of Section 14 hereof, the additional
Rights to which such holders shall be entitled as a result of such adjustment,
or, at the option of the Company, shall cause to be distributed to such holders
of record in substitution and replacement for the Right Certificates held by
such holders prior to the date of adjustment, and upon surrender thereof if
required by the Company, new Right Certificates evidencing all the Rights to
which such holders shall be entitled after such adjustment. Right Certificates
so to be distributed shall be issued, executed and countersigned in the manner
provided for herein (and may bear, at the option of the Company, the adjusted
Purchase Price) and shall be registered in the names of the holders of record of
Right Certificates on the record date specified in the public announcement.

     (j) Irrespective of any adjustment or change in the Purchase Price or the
number or kind of securities issuable upon the exercise of the Rights, the Right
Certificates theretofore and thereafter issued may continue to express the
Purchase Price and the number and kind of securities which were expressed in the
initial Right Certificate issued hereunder.

     (k) Before taking any action that would cause an adjustment reducing the
Purchase Price below the then par value, if any, of the Common Shares or other
securities issuable upon exercise of the Rights, the Company shall take any
corporate action which may, in the opinion of

                                       18
<PAGE>

its counsel, be necessary in order that the Company may validly and legally
issue fully paid and nonassessable Common Shares or such other securities at
such adjusted Purchase Price.

     (l) In any case in which this Section 11 shall require that an adjustment
in the Purchase Price be made effective as of a record date for a specified
event, the Company may elect to defer until the occurrence of such event the
issuance to the holder of any Right exercised after such record date the number
of Common Shares or other securities of the Company, if any, issuable upon such
exercise over and above the number of Common Shares or other securities of the
Company, if any, issuable upon such exercise on the basis of the Purchase Price
in effect prior to such adjustment; provided, however, that the Company shall
deliver to such holder a due bill or other appropriate instrument evidencing
such holder's right to receive such additional Common Shares or other securities
upon the occurrence of the event requiring such adjustment.

     (m) Notwithstanding anything in this Agreement to the contrary, the Company
shall be entitled to make such reductions in the Purchase Price, in addition to
those adjustments expressly required by this Section 11, as and to the extent
that in its good faith judgment the Board of Directors of the Company shall
determine to be advisable in order that any (i) consolidation or subdivision of
the Common Shares, (ii) issuance wholly for cash of Common Shares at less than
the current per share market price therefor, (iii) issuance wholly for cash of
Common Shares or securities which by their terms are convertible into or
exchangeable for Common Shares, (iv) stock dividends, or (v) issuance of rights,
options or warrants referred to in this Section 11, hereafter made by the
Company to holders of its Common Shares shall not be taxable to such
shareholders.

     Section 12. Certificate of Adjusted Purchase Price or Number of Securities.
Whenever an adjustment is made as provided in Section 11 or Section 13 hereof,
the Company shall promptly (a) prepare a certificate setting forth such
adjustment and a brief statement of the facts accounting for such adjustment,
(b) file with the Rights Agent and with each transfer agent for the Common
Shares a copy of such certificate, and (c) if such adjustment is made after the
Distribution Date, mail a brief summary of such adjustment to each holder of a
Right Certificate in accordance with Section 25 hereof.

     Section 13. Consolidation, Merger or Sale or Transfer of Assets or Earning
Power.

     (a) In the event that, following the Share Acquisition Date, directly
or indirectly:

               (i) the Company shall consolidate with, or merge with or into,
          any other Person and the Company shall not be the continuing or
          surviving corporation of such consolidation or merger; or

               (ii) any Person shall consolidate with the Company, or merge with
          or into the Company and the Company shall be the continuing or
          surviving corporation of such merger or consolidation and, in
          connection with such merger or consolidation, all or part of the
          Common Shares shall be changed into or

                                       19
<PAGE>

          exchanged for stock or other securities of any other Person or cash or
          any other property; or

               (iii)  the Company shall be a party to any statutory share
          exchange with any other Person; or

               (iv) the Company shall sell or otherwise transfer (or one or more
          of its Subsidiaries shall sell or otherwise transfer), in one or more
          transactions, assets or earning power (including, without limitation,
          securities creating any obligation on the part of the Company and/or
          any of its Subsidiaries) representing in the aggregate more than 50%
          of the assets or earning power of the Company and its Subsidiaries
          (taken as a whole) to any Person or Persons; then, and in each such
          case, proper provision shall be made so that (A) each holder of a
          Right (except as otherwise provided herein) shall thereafter have the
          right to receive, upon the exercise thereof in accordance with the
          terms of this Agreement at an exercise price per Right equal to the
          product of the then-current Purchase Price multiplied by the number of
          Common Shares for which a Right was exercisable immediately prior to
          the first occurrence of a Triggering Event, such number of validly
          authorized and issued, fully paid, nonassessable and freely tradable
          Common Shares of the Issuer, free and clear of any liens, encumbrances
          and other adverse claims and not subject to any rights of call or
          first refusal, as shall be equal to the result obtained by (x)
          multiplying the then-current Purchase Price by the number of Common
          Shares for which a Right is exercisable immediately prior to the first
          occurrence of a Triggering Event and dividing that product by (y) 50%
          of the current per share market price of the Common Shares of the
          Issuer (determined pursuant to Section 11(d) hereof), on the date of
          consummation of such Flip-over Event; (B) the Issuer shall thereafter
          be liable for, and shall assume, by virtue of the consummation of such
          Flip-over Event, all the obligations and duties of the Company
          pursuant to this Agreement; (C) the term "Company" shall thereafter be
          deemed to refer to the Issuer; and (D) the Issuer shall take such
          steps (including, without limitation, the reservation of a sufficient
          number of its Common Shares to permit the exercise of all outstanding
          Rights) in connection with such consummation as may be necessary to
          assure that the provisions hereof shall thereafter be applicable, as
          nearly as reasonably may be possible, in relation to its Common Shares
          thereafter deliverable upon the exercise of the Rights.

     (b) For purposes of this Section 13, "Issuer" shall mean (i) in the
case of any Flip-over Event described in Sections 13(a)(i) or (ii) above, the
Person that is the continuing, surviving, resulting or acquiring Person
(including the Company as the continuing or surviving corporation of a
transaction described in Section 13(a)(ii) above), (ii) in the case of any Flip-
over Event described in Section 13(a)(iii) above, the Person acquiring the
securities of the shareholders of the Company in such exchange and (iii) in the
case of any Flip-over Event described in Section 13(a)(iv) above, the Person
that is the party receiving the greatest portion of the assets or earning power
(including, without limitation, securities creating any obligation on the part
of the Company and/or any of its Subsidiaries) transferred pursuant to such
transaction or transactions; provided, however,

                                       20
<PAGE>

that, in any such case, (A) if (1) no class of equity security of such Person
is, at the time of such merger, consolidation or transaction and has been
continuously over the preceding 12-month period, registered pursuant to Section
12 of the Exchange Act, and (2) such Person is a Subsidiary, directly or
indirectly, of another Person, a class of equity security of which is and has
been so registered, the term "Issuer" shall mean such other Person; and (B) in
case such Person is a Subsidiary, directly or indirectly, of more than one
Person, a class of equity security of two or more of which are and have been so
registered, the term Issuer shall mean whichever of such Persons is the issuer
of the equity security having the greatest aggregate market value.
Notwithstanding the foregoing, if the Issuer in any of the Flip-over Events
listed above is not a corporation or other legal entity having outstanding
equity securities, then, and in each such case, (x) if the Issuer is directly or
indirectly wholly owned by a corporation or other legal entity having
outstanding equity securities, then all references to Common Shares of the
Issuer shall be deemed to be references to the Common Shares of the corporation
or other legal entity having outstanding equity securities which ultimately
controls the Issuer, and (y) if there is no such corporation or other legal
entity having outstanding equity securities, (I) proper provision shall be made
so that the Issuer shall create or otherwise make available for purposes of the
exercise of the Rights in accordance with the terms of this Agreement, a kind or
kinds of security or securities having a fair market value at least equal to the
economic value of the Common Shares which each holder of a Right would have been
entitled to receive if the Issuer had been a corporation or other legal entity
having outstanding equity securities; and (II) all other provisions of this
Agreement shall apply to the issuer of such securities as if such securities
were Common Shares.

     (c) The Company shall not consummate any Flip-over Event, unless  the
Issuer shall have a sufficient number of authorized Common Shares (or other
securities as contemplated in Section 13(b) above) which have not been issued or
reserved for issuance to permit the exercise in full of the Rights in accordance
with this Section 13 and unless prior to such consummation the Company and the
Issuer shall have executed and delivered to the Rights Agent a supplemental
agreement providing for the terms set forth in subsections (a) and (b) of this
Section 13 and further providing that as promptly as practicable after the
consummation of any Flip-over Event, the Issuer shall:

               (i) prepare and file a registration statement under the
          Securities Act, with respect to the Rights and the securities issuable
          upon exercise of the Rights on an appropriate form, and shall use its
          best efforts to cause such registration statement to (A) become
          effective as soon as practicable after such filing and (B) remain
          effective (with a prospectus at all times meeting the requirements of
          the Securities Act) until the Expiration Date;

               (ii) take all such action as may be appropriate under, or to
          ensure compliance with, the securities or "blue sky" laws of the
          various states in connection with the exercisability of the Rights;
          and

                                       21
<PAGE>

               (iii) deliver to holders of the Rights historical financial
          statements for the Issuer and each of its Affiliates which comply in
          all respects with the requirements for registration on Form 10 (or any
          successor form) under the Exchange Act.

     (d) The provisions of this Section 13 shall similarly apply to successive
mergers or consolidations or sales or other transfers. In the event that a Flip-
over Event occurs at any time after the occurrence of a Flip-in Event, the
Rights which have not theretofore been exercised shall thereafter become
exercisable in the manner described in Section 13(a) hereof.

     Section 14.  Fractional Rights and Fractional Securities.

     (a) The Company shall not be required to issue fractions of Right or to
distribute Right Certificates which evidence fractional Rights. In lieu of such
fractional Rights, the Company shall pay as promptly as practicable to the
registered holders of the Right Certificates with regard to which such
fractional Rights otherwise would be issuable, an amount in cash equal to the
same fraction of the current market value of a whole Right. For the purposes of
this Section 14(a), the current market value of a whole Right shall be the
closing price of the Rights for the Trading Day immediately prior to the date on
which such fractional Rights otherwise would have been issuable. The closing
price for any day shall be the last sale price, regular way, or, in case no such
sale takes place on such day, the average of the closing bid and asked prices,
regular way, in either case as reported in the principal consolidated
transaction reporting system with respect to securities listed or admitted to
trading on the NYSE or, if the Rights are not listed or admitted to trading on
the NYSE, as reported in the principal consolidated transaction reporting system
with respect to securities listed on the principal national securities exchange
on which the Rights are listed or admitted to trading or, if the Rights are not
listed or admitted to trading on any national securities exchange, the last
quoted price or, if not so quoted, the average of the high bid and low asked
prices in the over-the-counter market, as reported by NASDAQ or such other
system then in use or, if on any such date the Rights are not quoted by any such
organization, the average of the closing bid and asked prices as furnished by a
professional market maker making a market in the Rights selected by the Board of
Directors of the Company. If on any such date no such market maker is making a
market in the Rights, the fair value of the Rights on such date as determined in
good faith by the Board of Directors of the Company shall be used.

     (b) The Company shall not be required to issue fractions of Common Shares
or other securities issuable upon exercise or exchange of the Rights or to
distribute certificates which evidence any such fractional securities. In lieu
of issuing any such fractional securities, the Company may pay to any Person to
whom or which such fractional securities would otherwise be issuable an amount
in cash equal to the same fraction of the current market value of one such
security. For purposes of this Section 14(b), the current market value of a
Common Share or other security issuable upon the exercise or exchange of Rights
shall be the closing price thereof (as determined in the same manner as set
forth for Common Shares in the second sentence of Section 11(d) hereof) for the
Trading Day immediately prior to the date of such exercise or exchange;

                                       22
<PAGE>

provided, however, that if neither the Common Shares nor any such other
securities are publicly held or listed or admitted to trading on any national
securities exchange, or the subject of available bid and asked quotes, the
current market value of one Common Share or such other security shall be
determined in good faith by the Board of Directors of the Company.

     Section 15. Rights of Action. All rights of action in respect of this
Agreement, excepting the rights of action given to the Rights Agent under
Section 18 hereof, are vested in the respective registered holders of the Right
Certificates (and, prior to the Distribution Date, the registered holders of the
Common Shares); and any registered holder of any Right Certificate (or, prior to
the Distribution Date, of the Common Shares), without the consent of the Rights
Agent or of the holder of any other Right Certificate (or, prior to the
Distribution Date, of the holder of any Common Shares), may in his own behalf
and for his own benefit enforce, and may institute and maintain any suit, action
or proceeding against the Company to enforce, or otherwise act in respect of,
his right to exercise Rights evidenced by such Right Certificate or Common Share
certificate in the manner provided in such Right Certificate and in this
Agreement. Without limiting the foregoing or any remedies available to the
holders of Rights, it is specifically acknowledged that the holders of Rights
would not have an adequate remedy at law for any breach of this Agreement and
shall be entitled to specific performance of the obligations under this
Agreement, and injunctive relief against actual or threatened violations of the
obligations of any Person subject to this Agreement.

     Section 16. Agreement of Rights Holders. Every holder of a Right by
accepting the same consents and agrees with the Company and the Rights Agent and
with every other holder of a Right that:

     (a) Prior to the Distribution Date, the Rights shall be transferable only
in connection with the transfer of the Common Shares;

     (b) After the Distribution Date, the Right Certificates are transferable
only on the registry books of the Rights Agent if surrendered at the principal
office of the Rights Agent designated for such purpose, duly endorsed or
accompanied by a proper instrument of transfer;

     (c) The Company and the Rights Agent may deem and treat the person in whose
name the Right Certificate (or, prior to the Distribution Date, the associated
Common Share certificate) is registered as the absolute owner thereof and of the
Rights evidenced thereby (notwithstanding any notations of ownership or writing
on the Right Certificate or the associated Common Share certificate made by
anyone other than the Company or the Rights Agent) for all purposes whatsoever,
and neither the Company nor the Rights Agent shall be affected by any notice to
the contrary;

     (d) Such holder expressly waives any right to receive any fractional Rights
and any fractional securities upon exercise or exchange of a Right, except as
otherwise provided in Section 14 hereof; and

                                       23
<PAGE>

     (e) Notwithstanding anything in this Agreement to the contrary, neither the
Company nor the Rights Agent shall have any liability to any holder of a Right
or other Person as a result of its inability to perform any of its obligations
under this Agreement by reason of any preliminary or permanent injunction or
other order, decree or ruling issued by a court of competent jurisdiction or by
a governmental, regulatory or administrative agency or commission, or any
statute, rule, regulation or executive order promulgated or enacted by any
governmental authority, prohibiting or otherwise restraining performance of such
obligation; provided, however, that the Company shall use its best efforts to
have any such order, decree or ruling lifted or otherwise overturned as soon as
possible.

     Section 17. Right Certificate Holder Not Deemed a Shareholder. No holder,
as such, of any Right Certificate shall be entitled to vote, receive dividends
or be deemed for any purpose the holder of the Common Shares or any other
securities of the Company which may at any time be issuable upon the exercise of
the Rights represented thereby, nor shall anything contained herein or in any
Right Certificate be construed to confer upon the holder of any Right
Certificate, as such, any of the rights of a shareholder of the Company or any
right to vote for the election of directors or upon any matter submitted to
shareholders at any meeting thereof, or to give or withhold consent to any
corporate action, or to receive notice of meetings or other actions affecting
shareholders (except as provided in Section 24 hereof), or to receive dividends
or subscription rights, or otherwise, until the Right or Rights evidenced by
such Right Certificate shall have been exercised in accordance with the
provisions of this Agreement or exchanged pursuant to the provisions of Section
27 hereof.

     Section 18.  Concerning the Rights Agent.

     (a) The Company agrees to pay to the Rights Agent reasonable compensation
for all services rendered by it hereunder and, from time to time, on demand of
the Rights Agent, its reasonable expenses and counsel fees and other
disbursements incurred in the administration and execution of this Agreement and
the exercise and performance of its duties hereunder. The Company also agrees to
indemnify the Rights Agent for, and to hold it harmless against, any loss,
liability, suit, action, proceeding or expense, incurred without gross
negligence, bad faith or willful misconduct on the part of the Rights Agent, for
anything done or omitted by the Rights Agent in connection with the acceptance
and administration of this Agreement, including the costs and expenses of
defending against any claim of liability arising therefrom, directly or
indirectly.

     (b) The Rights Agent shall be protected and shall incur no liability for or
in respect of any action taken, suffered or omitted by it in connection with its
administration of this Agreement in reliance upon any Right Certificate or
certificate evidencing Common Shares or other securities of the Company,
instrument of assignment or transfer, power of attorney, endorsement, affidavit,
letter, notice, direction, consent, certificate, statement or other paper or
document believed by it to be genuine and to be signed,

                                       24
<PAGE>

executed and, where necessary, verified or acknowledged, by the proper Person or
Persons.

     Section 19. Merger or Consolidation or Change of Name of Rights Agent.

     (a) Any corporation into which the Rights Agent or any successor Rights
Agent may be merged or with which it may be consolidated, or any corporation
resulting from any merger or consolidation to which the Rights Agent or any
successor Rights Agent shall be a party, or any corporation succeeding to the
corporate trust business of the Rights Agent or any successor Rights Agent,
shall be the successor to the Rights Agent under this Agreement without the
execution or filing of any paper or any further act on the part of any of the
parties hereto, provided that such corporation would be eligible for appointment
as a successor Rights Agent under the provisions of Section 21 hereof. In case
at the time such successor Rights Agent shall succeed to the agency created by
this Agreement, any of the Right Certificates shall have been countersigned but
not delivered, any such successor Rights Agent may adopt the countersignature of
the predecessor Rights Agent and deliver such Right Certificates so
countersigned; and in case at that time any of the Right Certificates shall not
have been countersigned, any successor Rights Agent may countersign such Right
Certificates either in the name of the predecessor Rights Agent or in the name
of the successor Rights Agent; and in all such cases such Right Certificates
shall have the full force provided in the Right Certificates and in this
Agreement.

     (b) In case at any time the name of the Rights Agent shall be changed and
at such time any of the Right Certificates shall have been countersigned but not
delivered, the Rights Agent may adopt the countersignature under its prior name
and deliver Right Certificates so countersigned; and in case at that time any of
the Right Certificates shall not have been countersigned, the Rights Agent may
countersign such Right Certificates either in its prior name or in its changed
name; and in all such cases such Right Certificates shall have the full force
provided in the Right Certificates and in this Agreement.

     Section 20. Duties of Rights Agent. The Rights Agent undertakes the duties
and obligations imposed by this Agreement upon the following terms and
conditions, by all of which the Company and the holders of Right Certificates,
by their acceptance thereof, shall be bound:

     (a) The Rights Agent may consult with legal counsel (who may be legal
counsel for the Company), and the opinion of such counsel shall be full and
complete authorization and protection to the Rights Agent as to any action taken
or omitted by it in good faith and in accordance with such opinion.

     (b) Whenever in the performance of its duties under this Agreement the
Rights Agent shall deem it necessary or desirable that any fact or matter be
proved or established by the Company prior to taking or suffering any action
hereunder, such fact or matter (unless other evidence in respect thereof be
herein specifically prescribed) may

                                       25
<PAGE>

be deemed to be conclusively proved and established by a certificate signed by
any one of the Chairman of the Board, the President or any Vice President of the
Company and delivered to the Rights Agent; and such certificate shall be full
authorization to the Rights Agent for any action taken or suffered in good faith
by it under the provisions of this Agreement in reliance upon such certificate.

     (c) The Rights Agent shall be liable hereunder only for its own  gross
negligence, bad faith or willful misconduct.

     (d) The Rights Agent shall not be liable for or by reason of any of the
statements of fact or recitals contained in this Agreement or in the Right
Certificates (except its countersignature thereof) or be required to verify the
same, but all such statements and recitals are and shall be deemed to have been
made by the Company only.

     (e) The Rights Agent shall not be under any responsibility in respect of
the validity of this Agreement or the execution and delivery hereof (except the
due execution and delivery hereof by the Rights Agent) or in respect of the
validity or execution of any Right Certificate (except its countersignature
thereof); nor shall it be responsible for any breach by the Company of any
covenant or condition contained in this Agreement or in any Right Certificate;
nor shall it be responsible for any adjustment required under the provisions of
Section 11 or Section 13 hereof (including any adjustment which results in
Rights becoming void) or responsible for the manner, method or amount of any
such adjustment or the ascertaining of the existence of facts that would require
any such adjustment (except with respect to the exercise of Rights evidenced by
Right Certificates after actual notice of any such adjustment); nor shall it by
any act hereunder be deemed to make any representation or warranty as to the
authorization or reservation of any shares of stock or other securities to be
issued pursuant to this Agreement or any Right Certificate or as to whether any
shares of stock or other securities will, when issued, be validly authorized and
issued, fully paid and nonassessable.

     (f) The Company agrees that it will perform, execute, acknowledge and
deliver or cause to be performed, executed, acknowledged and delivered all such
further and other acts, instruments and assurances as may reasonably be required
by the Rights Agent for the carrying out or performing by the Rights Agent of
the provisions of this Agreement.

     (g) The Rights Agent is hereby authorized and directed to accept
instructions with respect to the performance of its duties hereunder from any
one of the Chairman of the Board, the President or any Vice President of the
Company, and to apply to such officers for advice or instructions in connection
with its duties, and it shall not be liable for any action taken or suffered to
be taken by it in good faith in accordance with instructions of any such
officer.

     (h) The Rights Agent and any shareholder, director, officer or employee of
the Rights Agent may buy, sell or deal in any of the Rights or other securities
of the Company or become pecuniarily interested in any transaction in which the
Company may

                                       26
<PAGE>

be interested, or contract with or lend money to the Company or otherwise act as
fully and freely as though it were not Rights Agent under this Agreement.
Nothing herein shall preclude the Rights Agent from acting in any other capacity
for the Company or for any other legal entity.

     (i) The Rights Agent may execute and exercise any of the rights or powers
hereby vested in it or perform any duty hereunder either itself or by or through
its attorneys or agents, and the Rights Agent shall not be answerable or
accountable for any act, default, neglect or misconduct of any such attorneys or
agents or for any loss to the Company resulting from any such act, default,
neglect or misconduct, provided reasonable care was exercised in the selection
and continued employment thereof. The Rights Agent shall not be under any duty
or responsibility to insure compliance with any applicable federal or state
securities laws in connection with the issuance, transfer or exchange of Right
Certificates.

     (j) If, with respect to any Right Certificate surrendered to the Rights
Agent for exercise, transfer, split up, combination or exchange, the certificate
attached to the form of assignment or form of election to purchase, as the case
may be, has either not been completed or indicates an affirmative response to
clause 1 or 2 thereof, the Rights Agent shall not take any further action with
respect to such requested exercise, transfer, split up, combination or exchange,
without first consulting with the Company.

     Section 21. Change of Rights Agent. The Rights Agent or any successor
Rights Agent may resign and be discharged from its duties under this Agreement
upon 30 calendar days' notice in writing mailed to the Company and to each
transfer agent of the Common Shares by registered or certified mail, and to the
holders of the Right Certificates by first-class mail. The Company may remove
the Rights Agent or any successor Rights Agent upon 30 calendar days' notice in
writing, mailed to the Rights Agent or successor Rights Agent, as the case may
be, and to each transfer agent of the Common Shares by registered or certified
mail, and to the holders of the Right Certificates by first-class mail. If the
Rights Agent shall resign or be removed or shall otherwise become incapable of
acting, the Company shall appoint a successor to the Rights Agent. If the
Company shall fail to make such appointment within a period of 30 calendar days
after giving notice of such removal or after it has been notified in writing of
such resignation or incapacity by the resigning or incapacitated Rights Agent or
by the holder of a Right Certificate (who shall, with such notice, submit his
Right Certificate for inspection by the Company), then the registered holder of
any Right Certificate may apply to any court of competent jurisdiction for the
appointment of a new Rights Agent. Any successor Rights Agent, whether appointed
by the Company or by such a court, shall be a corporation organized and doing
business under the laws of the United States or of the State of Georgia or the
State of New York (or of any other state of the United States so long as such
corporation is authorized to do business as a banking institution in the State
of Georgia or the State of New York), in good standing, having a principal
office in the State of Georgia or the State of New York, which is authorized
under such laws to exercise corporate trust powers and is subject to supervision
or examination by federal or state authority and which has at the time of its
appointment as Rights Agent a combined

                                       27
<PAGE>

capital and surplus of at least $50 million. After appointment, the successor
Rights Agent shall be vested with the same powers, rights, duties and
responsibilities as if it had been originally named as Rights Agent without
further act or deed; but the predecessor Rights Agent shall deliver and transfer
to the successor Rights Agent any property at the time held by it hereunder, and
execute and deliver any further assurance, conveyance, act or deed necessary for
the purpose. Not later than the effective date of any such appointment, the
Company shall file notice thereof in writing with the predecessor Rights Agent
and each transfer agent of the Common Shares, and mail a notice thereof in
writing to the registered holders of the Right Certificates. Failure to give any
notice provided for in this Section 21, however, or any defect therein, shall
not affect the legality or validity of the resignation or removal of the Rights
Agent or the appointment of the successor Rights Agent, as the case may be.

     Section 22. Issuance of New Right Certificates. Notwithstanding any of the
provisions of this Agreement or of the Rights to the contrary, the Company may,
at its option, issue new Right Certificates evidencing Rights in such form as
may be approved by its Board of Directors to reflect any adjustment or change in
the Purchase Price per share and the number or kind of securities issuable upon
exercise of the Rights made in accordance with the provisions of this Agreement.
In addition, in connection with the issuance or sale by the Company of Common
Shares following the Distribution Date and prior to the Expiration Date, the
Company (a) shall, with respect to Common Shares so issued or sold pursuant to
the exercise or conversion of securities issued prior to the Distribution Date
which are exercisable for, or convertible into, Common Shares, and (b) may, in
any other case, if deemed necessary, appropriate or desirable by the Board of
Directors of the Company, issue Right Certificates representing an equivalent
number of Rights as would have been issued in respect of such Common Shares if
they had been issued or sold prior to the Distribution Date, as appropriately
adjusted as provided herein as if they had been so issued or sold; provided,
however, that (i) no such Right Certificate shall be issued if, and to the
extent that, in its good faith judgment the Board of Directors of the Company
shall have determined that the issuance of such Right Certificate could have a
material adverse tax consequence to the Company or to the Person to whom or
which such Right Certificate otherwise would be issued, and (ii) no such Right
Certificate shall be issued if, and to the extent that, appropriate adjustment
otherwise shall have been made in lieu of the issuance thereof.

     Section 23.  Redemption.

     (a) The Board of Directors of the Company may, at its option, redeem all
but not less than all of the then-outstanding Rights at the Redemption Price at
any time prior to the Close of Business on the later of (i) the Distribution
Date and (ii) the Share Acquisition Date, or on such later date as the Board of
Directors may designate prior to such time as the Rights are no longer
redeemable hereunder.

     (b) Immediately upon the action of the Board of Directors of the Company
ordering the redemption of the Rights, and without any further action and
without any notice, the right to exercise the Rights shall terminate and the
only right thereafter of the

                                       28
<PAGE>

holders of Rights shall be to receive the Redemption Price. Promptly after the
action of its Board of Directors ordering the redemption of the Rights, the
Company shall publicly announce such action, and within 10 calendar days
thereafter, the Company shall give notice of such redemption to the holders of
the then-outstanding Rights by mailing such notice to all such holders at their
last addresses as they appear upon the registry books of the Company; provided,
however, that the failure to give, or any defect in, any such notice shall not
affect the validity of the redemption of the Rights. Any notice which is mailed
in the manner herein provided shall be deemed given, whether or not the holder
receives the notice. The notice of redemption mailed to the holders of Rights
shall state the method by which the payment of the Redemption Price will be
made. The Company may, at its option, pay the Redemption Price in cash, Common
Shares (based upon the current per share market price of the Common Shares
(determined pursuant to Section 11(d) hereof) at the time of redemption) or any
other form of consideration deemed appropriate by the Board of Directors of the
Company (based upon the fair market value of such other consideration,
determined by the Board of Directors of the Company in good faith) or any
combination thereof.

     (c) At any time following the Share Acquisition Date, the Board of
Directors of the Company may relinquish the right to redeem the Rights under
this Section 23 by duly adopting a resolution to that effect. Immediately upon
adoption of such resolution, the rights of the Board of Directors of the Company
to redeem the Rights shall terminate without further action and without any
notice. Promptly after adoption of such a resolution, the Company shall publicly
announce such action; provided, however, that the failure to give, or any defect
in, any such notice shall not affect the validity of the action of the Board of
Directors of the Company.

     (d) If, following the occurrence of a Share Acquisition Date and following
the expiration of the right of redemption hereunder, (i) a Person who is an
Acquiring Person shall have transferred or otherwise disposed of a number of
Common Shares in one transaction or series of transactions, not directly or
indirectly involving the Company or any of its Subsidiaries, which did not
result in the occurrence of a Triggering Event such that such Person is
thereafter the Beneficial Owner of 10% or less of the outstanding Common Shares,
and (ii) there are no other Persons immediately following the occurrence of the
event described in clause (i) who are Acquiring Persons, then the right of
redemption hereunder shall be reinstated and shall thereafter be exercisable
subject to the provisions of this Section 23.

     Section 24.  Notice of Certain Events.

     (a) In case, after the Distribution Date, the Company shall propose (i) to
pay any dividend payable in stock of any class to the holders of Common Shares
or to make any other distribution to the holders of Common Shares (other than a
regular periodic cash dividend), (ii) to offer to the holders of Common Shares
rights, options or warrants to subscribe for or to purchase any additional
Common Shares or shares of stock of any class or any other securities, rights or
options, (iii) to effect any reclassification of its Common Shares (other than a
reclassification involving only the subdivision of

                                       29
<PAGE>

outstanding Common Shares), (iv) to effect any consolidation or merger into or
with, or to effect any sale or other transfer (or to permit one or more of its
Subsidiaries to effect any sale or other transfer), in one or more transactions,
of assets or earning power (including, without limitation, securities creating
any obligation on the part of the Company and/or any of its Subsidiaries)
representing more than 50% of the assets and earning power of the Company and
its Subsidiaries, taken as a whole, to any other Person or Persons, or (v) to
effect the liquidation, dissolution or winding up of the Company, then, in each
such case, the Company shall give to each holder of a Right Certificate, in
accordance with Section 25 hereof, a notice of such proposed action, which shall
specify the record date for the purposes of such stock dividend, distribution or
offering of rights, options or warrants, or the date on which such
reclassification, consolidation, merger, sale, transfer, liquidation,
dissolution, or winding up is to take place and the date of participation
therein by the holders of the Common Shares, if any such date is to be fixed,
and such notice shall be so given, in the case of any action covered by clause
(i) or (ii) above, at least 10 calendar days prior to the record date for
determining holders of the Common Shares for purposes of such action, and, in
the case of any such other action, at least 10 calendar days prior to the date
of the taking of such proposed action or the date of participation therein by
the holders of the Common Shares, whichever shall be the earlier.

     (b) In case any Triggering Event shall occur, then, in any such case, the
Company shall as soon as practicable thereafter give to the Rights Agent and
each holder of a Right Certificate, in accordance with Section 25 hereof, a
notice of the occurrence of such event, which shall specify the event and the
consequences of the event to holders of Rights.

     Section 25.  Notices.

     (a) Notices or demands authorized by this Agreement to be given or made by
the Rights Agent or by the holder of any Right Certificate to or on the Company
shall be sufficiently given or made if sent by first-class mail, postage
prepaid, addressed (until another address is filed in writing with the Rights
Agent) as follows:

                         Equifax PS, Inc.

                         ______________________________

                         ______________________________
                         Attention: Corporate Secretary

     (b) Subject to the provisions of Section 21 hereof, any notice or demand
authorized by this Agreement to be given or made by the Company or by the holder
of any Right Certificate to or on the Rights Agent shall be sufficiently given
or made if sent by first-class mail, postage prepaid, addressed (until another
address is filed in writing with the Company) as follows:

                         SunTrust Bank, Atlanta
                         Corporate Trust Department

                                       30
<PAGE>

                         P.O. Box 4625
                         Atlanta, Georgia 30302
                         Attention: Department Manager

     (c) Notices or demands authorized by this Agreement to be given or made by
the Company or the Rights Agent to the holder of any Right Certificate (or, if
prior to the Distribution Date, to the holder of any certificate evidencing
Common Shares) shall be sufficiently given or made if sent by first-class mail,
postage prepaid, addressed to such holder at the address of such holder as shown
on the registry books of the Company.

     Section 26. Supplements and Amendments. Prior to the Distribution Date and
subject to the last sentence of this Section 26, the Company may in its sole and
absolute discretion and the Rights Agent shall, if the Company so directs,
supplement or amend any provision of this Agreement without the approval of any
holders of Rights or shares of the Company. From and after the Distribution Date
and subject to the last sentence of this Section 26, the Company may in its sole
and absolute discretion and the Rights Agent shall, if the Company so directs,
supplement or amend this Agreement without the approval of any holders of Right
Certificates in order (i) to cure any ambiguity, (ii) to correct or supplement
any provision contained herein which may be defective or inconsistent with any
other provisions herein, (iii) to shorten or lengthen any time period hereunder,
or (iv) to supplement or amend the provisions hereunder in any manner which the
Company may deem desirable, including, without limitation, the addition of other
events requiring adjustment to the Rights under Sections 11 or 13 hereof or
procedures relating to the redemption of the Rights, which supplement or
amendment shall not, in the good faith determination of the Board of Directors
of the Company, adversely affect the interests of the holders of Right
Certificates (other than an Acquiring Person or an Affiliate or Associate of an
Acquiring Person). Upon the delivery of a certificate from an officer of the
Company that states that the proposed supplement or amendment is in compliance
with the terms of this Section 26, the Rights Agent shall execute such
supplement or amendment; provided, however, that the failure or refusal of the
Rights Agent to execute such supplement or amendment shall not affect the
validity of any supplement or amendment adopted by the Company, any of which
shall be effective in accordance with the terms thereof. Notwithstanding
anything in this Agreement to the contrary, no supplement or amendment shall be
made at such time as the Rights are not then redeemable which decreases the
stated Redemption Price or the period of time remaining until the Final
Expiration Date or which modifies a time period relating to when the Rights may
be redeemed.

     Section 27.  Exchange.

     (a) The Board of Directors of the Company may, at its option, at any time
after the later of the Distribution Date and the first occurrence of a
Triggering Event, exchange all or part of the then-outstanding and exercisable
Rights (which shall not include Rights that have become void pursuant to the
provisions of Section 11(a)(ii) hereof) for Common Shares at an exchange ratio
of one Common Share per Right, appropriately adjusted to reflect any stock
split, stock dividend or similar transaction

                                       31
<PAGE>

occurring after the date hereof (such exchange ratio being hereinafter referred
to as the "Exchange Ratio"). Notwithstanding the foregoing, the Board of
Directors shall not be empowered to effect such exchange at any time after any
Person (other than the Company, any Subsidiary of the Company, any employee
benefit plan of the Company or any such Subsidiary, or any entity holding Common
Shares for or pursuant to the terms of any such plan), together with all
Affiliates and Associates of such Person, becomes the Beneficial Owner of 50% or
more of the Common Shares then outstanding.

     (b) Immediately upon the action of the Board of Directors of the Company
ordering the exchange of any Rights pursuant to Section 27(a) hereof, and
without any further action and without any notice, the right to exercise such
Rights shall terminate and the only right with respect to such Rights thereafter
of the holder of such Rights shall be to receive that number of Common Shares
equal to the number of such Rights held by such holder multiplied by the
Exchange Ratio. Promptly after the action of the Board of Directors of the
Company ordering the exchange of any Rights pursuant to Section 27(a) hereof,
the Company shall publicly announce such action, and within 10 calendar days
thereafter shall give notice of any such exchange to all of the holders of such
Rights at their last addresses as they appear upon the registry books of the
Rights Agent; provided, however, that the failure to give, or any defect in,
such notice shall not affect the validity of such exchange. Any notice which is
mailed in the manner herein provided shall be deemed given, whether or not the
holder receives the notice. Each such notice of exchange shall state the method
by which the exchange of the Common Shares for Rights will be effected and, in
the event of any partial exchange, the number of Rights which will be exchanged.
Any partial exchange shall be effected pro rata based on the number of Rights
(other than Rights which have become void pursuant to the provisions of Section
11(a)(ii) hereof) held by each holder of Rights.

     (c) In any exchange pursuant to this Section 27, the Company, at its
option, may substitute for any Common Share exchangeable for a Right, (i)
equivalent common shares (as such term is used in Section 11(a)(iii) hereof),
(ii) cash, (iii) debt securities of the Company, (iv) other assets, or (v) any
combination of the foregoing, in any event having an aggregate value which the
Board of Directors of the Company shall have determined in good faith to be
equal to the current market value of one Common Share (determined pursuant to
Section 11(d) hereof) on the Trading Day immediately preceding the date of
exchange pursuant to this Section 27.

     Section 28. Successors; Certain Covenants. All the covenants and provisions
of this Agreement by or for the benefit of the Company or the Rights Agent shall
bind and inure to the benefit of their respective successors and assigns
hereunder.

     Section 29. Benefits of this Agreement. Nothing in this Agreement shall be
construed to give to any Person other than the Company, the Rights Agent and the
registered holders of the Right Certificates (and, prior to the Distribution
Date, the Common Shares) any legal or equitable right, remedy or claim under
this Agreement; but this Agreement shall be for the sole and exclusive benefit
of the Company, the Rights

                                       32
<PAGE>

Agent and the registered holders of the Right Certificates (or prior to the
Distribution Date, the Common Shares).

     Section 30. Determinations and Actions by the Board of Directors, etc. For
all purposes of this Agreement, any calculation of the number of Common Shares
or other securities outstanding at any particular time, including for purposes
of determining the particular percentage of such outstanding shares of which any
Person is the Beneficial Owner, shall be made in accordance with the last
sentence of Rule 13d-3(d)(1)(i) of the General Rules and Regulations under the
Exchange Act as in effect on the date of this Agreement. The Board of Directors
of the Company shall have the exclusive power and authority to administer this
Agreement and to exercise all rights and powers specifically granted to the
Board of Directors or to the Company, or as may be necessary or advisable in the
administration of this Agreement, including, without limitation, the right and
power to (i) interpret the provisions of this Agreement, and (ii) make all
determinations deemed necessary or advisable for the administration of this
Agreement (including a determination to redeem or exchange or not to redeem or
exchange the Rights or to supplement or amend the Agreement). All such actions,
calculations, interpretations and determinations (including, for purposes of
clause (y) below, all omissions with respect to the foregoing) which are done or
made by the Board of Directors in good faith, shall (x) be final, conclusive and
binding on the Company, the Rights Agent, the holders of the Rights and all
other parties, and (y) not subject any member of the Board to any liability to
the holders of the Rights.

     Section 31. Severability. If any term, provision, covenant or restriction
of this Agreement is held by a court of competent jurisdiction or other
authority to be invalid, void or unenforceable, the remainder of the terms,
provisions, covenants and restrictions of this Agreement shall remain in full
force and effect and shall in no way be affected, impaired or invalidated.

     Section 32. Governing Law. This Agreement and each Right Certificate issued
hereunder shall be deemed to be a contract made under the internal substantive
laws of the State of Georgia and for all purposes shall be governed by and
construed in accordance with the internal substantive laws of such State
applicable to contracts to be made and performed entirely within such State.

     Section 33. Counterparts. This Agreement may be executed in any number of
counterparts and each of such counterparts shall for all purposes be deemed to
be an original, and all such counterparts shall together constitute but one and
the same instrument.

     Section 34. Descriptive Headings. Descriptive headings of the several
Sections of this Agreement are inserted for convenience only and shall not
control or affect the meaning or construction of any of the provisions hereof.

                                       33
<PAGE>

     IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be
duly executed and their respective corporate seals to be hereunto affixed and
attested, all as of the day and year first above written.

     [SEAL]

     Attest:                                 EQUIFAX PS, INC.

     By:                                     By:
        -------------------------------         ----------------------------
        Secretary                               Name:
                                                Title:

     [SEAL]

     Attest:                                 SUNTRUST BANK, ATLANTA

     By:                                     By:
        -------------------------------         ----------------------------
        Name:                                   Name:
        Title:                                  Title:

                                       34
<PAGE>

                                   Exhibit A
                           Form of Right Certificate
                                    Rights

Certificate No. R-

NOT EXERCISABLE AFTER ___________, 2011 OR EARLIER IF REDEEMED. THE RIGHTS ARE
SUBJECT TO REDEMPTION, AT THE OPTION OF THE COMPANY, AT $0.01 PER RIGHT ON THE
TERMS SET FORTH IN THE RIGHTS AGREEMENT. UNDER CERTAIN CIRCUMSTANCES SPECIFIED
IN THE RIGHTS AGREEMENT, RIGHTS BENEFICIALLY OWNED BY AN ACQUIRING PERSON OR AN
AFFILIATE OR AN ASSOCIATE OF AN ACQUIRING PERSON (AS SUCH TERMS ARE DEFINED IN
THE RIGHTS AGREEMENT) MAY BECOME NULL AND VOID.

                               Right Certificate

                                Equifax PS, Inc.

     This certifies that _______________, or registered assigns, is the
registered owner of the number of Rights set forth above, each of which entitles
the owner thereof, subject to the terms, provisions and conditions of the Rights
Agreement, dated as of ____________, 2001 (the "Rights Agreement"), between
Equifax PS, Inc., a Georgia corporation (the "Company"), and SunTrust Bank,
Atlanta, a Georgia banking corporation (the "Rights Agent"), to purchase from
the Company at any time after the Distribution Date (as such term is defined in
the Rights Agreement) and prior to 5:00 P.M. (Eastern time) on ____________,
2011 at the principal office or offices of the Rights Agent designated for such
purpose, one fully paid nonassessable share of common stock, par value $.01 per
share (the "Common Shares"), of the Company, at a purchase price of [$____] per
Common Share (the "Purchase Price"), upon presentation and surrender of this
Right Certificate with the Form of Election to Purchase and related Certificate
duly executed. If this Right Certificate shall be exercised in part, the holder
shall be entitled to receive upon surrender hereof another Right Certificate or
Right Certificates for the number of whole Rights not exercised. The number of
Rights evidenced by this Right Certificate (and the number of Common Shares
which may be purchased upon exercise thereof) set forth above, and the Purchase
Price set forth above, are the number and Purchase Price as of ___________,
2001, based on the Common Shares as constituted at such date.

     As provided in the Rights Agreement, the Purchase Price and the number and
kind of securities issuable upon the exercise of the Rights evidenced by this
Right Certificate are subject to adjustment upon the happening of certain
events.

     This Right Certificate is subject to all of the terms, provisions and
conditions of the Rights Agreement, which terms, provisions and conditions are
hereby incorporated herein by reference and made a part hereof and to which
Rights Agreement reference is hereby made for a full description of the rights,
limitations of rights, obligations, duties and immunities of the Rights Agent,
the Company and the holders of the Right Certificates, which limitations of
rights

                                       35
<PAGE>

include the temporary suspension of the exercisability of the Rights under the
circumstances specified in the Rights Agreement. Copies of the Rights Agreement
are on file at the above-mentioned office of the Rights Agent.

     Pursuant to the Rights Agreement, from and after the later of the
Distribution Date and the first occurrence of a Flip-in Event (as such term is
defined in the Rights Agreement), (i) any Rights that are or were acquired or
beneficially owned by any Acquiring Person (or any Affiliate or Associate of
such Acquiring Person) shall be void and any holder of such Rights shall
thereafter have no right to exercise such Rights under any provision of the
Rights Agreement, (ii) no Right Certificate shall be issued pursuant to the
Rights Agreement that represents Rights beneficially owned by an Acquiring
Person or any Affiliate or Associate thereof, (iii) no Right Certificate shall
be issued at any time upon the transfer of any Rights to an Acquiring Person or
any Affiliate or Associate thereof or to any nominee of such Acquiring Person or
Affiliate or Associate thereof, and (iv) any Right Certificate delivered to the
Rights Agent for transfer to an Acquiring Person or any Affiliate or Associate
thereof shall be cancelled.

     This Right Certificate, with or without other Right Certificates, may be
transferred, split up, combined or exchanged for another Right Certificate or
Right Certificates, entitling the holder to purchase a like number of Common
Shares (or other securities, as the case may be) as the Right Certificate or
Right Certificates surrendered shall have entitled such holder (or former holder
in the case of a transfer) to purchase, upon presentation and surrender hereof
at the principal office of the Rights Agent designated for such purpose, with
the Form of Assignment (if appropriate) and the related Certificate duly
executed.

     Subject to the provisions of the Rights Agreement, the Rights evidenced by
this Certificate may be redeemed by the Company at its option at a redemption
price of $0.01 per Right. The Rights Agreement may be supplemented and amended
by the Company, as provided therein.

     The Company is not required to issue fractional Common Shares or other
securities issuable upon the exercise of any Right or Rights evidenced hereby.
In lieu of issuing such fractional Common Shares or other securities, the
Company may make a cash payment, as provided in the Rights Agreement.

     No holder of this Right Certificate, as such, shall be entitled to vote or
receive dividends or be deemed for any purpose the holder of the Common Shares
or of any other securities of the Company which may at any time be issuable upon
the exercise of the Right or Rights represented hereby, nor shall anything
contained herein or in the Rights Agreement be construed to confer upon the
holder hereof, as such, any of the rights of a shareholder of the Company or any
right to vote for the election of directors or upon any matter submitted to
shareholders at any meeting thereof, or to give or withhold consent to any
corporate action, or to receive notice of meetings or other actions affecting
shareholders (except as provided in the Rights Agreement), or to receive
dividends or subscription rights, or otherwise, until the Right or Rights
evidenced by this Right Certificate shall have been exercised in accordance with
the provisions of the Rights Agreement.

                                       36
<PAGE>

     This Right Certificate shall not be valid or obligatory for any purpose
until it shall have been countersigned by the Rights Agent.

     WITNESS the facsimile signature of the proper officers of the Company and
its corporate seal. Dated as of __________, 20__.

     ATTEST:                                 Equifax PS, Inc.

     By:                                     By:
        -------------------------------         ----------------------------
        Secretary                               Title:

[SEAL]

Countersigned:

SunTrust Bank, Atlanta

By:
   ------------------------------------
   Authorized Signature

                                       37
<PAGE>

                   Form of Reverse Side of Right Certificate

                               FORM OF ASSIGNMENT

                (To be executed by the registered holder if such
               holder desires to transfer the Right Certificate)

   FOR VALUE RECEIVED,___________________________________________________ hereby
sells, assigns and transfers unto_______________________________________________

________________________________________________________________________________
(Please print name and address of transferee)

________________________________________________________________________________
this Right Certificate, together with all right, title and interest therein, and
does hereby irrevocably constitute and appoint ____________________ Attorney, to
transfer the within Right Certificate on the books of the within-named Company,
with full power of substitution.

Dated: ____________, 20__

_________________________
Signature

Signature Guaranteed:

                                       38
<PAGE>

                                  CERTIFICATE

  The undersigned hereby certifies by checking the appropriate boxes that:

     (1) the Rights evidenced by this Right Certificate [ ] are [ ] are not
being sold, assigned, transferred, split up, combined or exchanged by or on
behalf of a Person who is or was an Acquiring Person or an Affiliate or
Associate of any such Person (as such terms are defined in the Rights
Agreement);

     (2) after due inquiry and to the best knowledge of the undersigned, it [ ]
did [ ] did not acquire the Rights evidenced by this Right Certificate from any
Person who is, was or became an Acquiring Person or an Affiliate or Associate of
an Acquiring Person.

     Dated: __________, 20__

     _________________________
     Signature

                                       39
<PAGE>

                          FORM OF ELECTION TO PURCHASE

                      (To be executed if holder desires to
                        exercise the Right Certificate)

To Equifax PS, Inc.

     The undersigned hereby irrevocably elects to exercise ________ Rights
represented by this Right Certificate to purchase the Common Shares or other
securities issuable upon the exercise of such Rights and requests that
certificates for such securities be issued in the name of:

     Please insert social security or other identifying number: ________________

________________________________________________________________________________
                    (Please print name and address)

     If such number of Rights shall not be all the Rights evidenced by this
Right Certificate, a new Right Certificate for the balance remaining of such
Rights shall be registered in the name of and delivered to:

     Please insert social security or  other identifying number: _______________

________________________________________________________________________________
                    (Please print name and address)

     Optional Election to Exercise without Payment of Cash:

     With respect to the exercise of the ________ Rights specified above, the
undersigned hereby elects to exercise such Rights without payment of cash and to
receive a number of Common Shares or other securities having a value (as
determined pursuant to the Rights Agreement) equal to the difference between (i)
the value of the Common Shares or other securities that would have been issuable
upon the exercise thereof upon payment of the cash amount as provided in the
Rights Agreement, and (ii) the amount of such cash payment.

     Dated: __________, 20__

                                    _______________________________
                                    Signature

     Signature Guaranteed:

                                       40
<PAGE>

                                  CERTIFICATE

     The undersigned hereby certifies by checking the appropriate boxes that:

          (1) the Rights evidenced by this Right Certificate [ ] are [ ]  are
     not being exercised by or on behalf of a Person who is or was an Acquiring
     Person or an Affiliate or Associate of any such Person (as such terms are
     defined pursuant to the Rights Agreement);

          (2) after due inquiry and to the best knowledge of the  undersigned,
     it [ ] did [ ] did not acquire the Rights evidenced by this Right
     Certificate from any Person who is, was or became an Acquiring Person or an
     Affiliate or Associate of an Acquiring Person.

          Dated:  __________, 20__

                                         __________________________
                                         Signature

                                       41
<PAGE>

                                    NOTICE

     Signatures on the foregoing Form of Assignment and Form of Election to
Purchase and in the related Certificates must correspond to the name as written
upon the face of this Right Certificate in every particular, without alteration
or enlargement or any change whatsoever.

     Signatures must be guaranteed by a member firm of a registered national
securities exchange, a member of the National Association of Securities Dealers,
Inc., or a commercial bank or trust company having an office or correspondent in
the United States.

                                       42

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