Document:

Exhibit 10.23

	
  General

  Notice of Award of Restricted Stock Units

  and Restricted Stock Unit Agreement

  	
  Harley-Davidson,
  Inc.

  or Subsidiaries

  	
  

  
	
   

  	
   

  	
   

  
	
  «Fname» «M»«Lname»

  «Address1»

  «Address2»

  «Address3»

  «City», «St» «Zip»

  «CO»

  	
  Award Number:

  Plan:

  ID:

  	
  «Grant_»

  2004 Incentive Stock Plan

  «ID»

  

 

Effective __/__/200_ (the “Grant Date”), you have been granted
Restricted Stock Units with respect to «Shares» shares
of Common Stock of Harley-Davidson, Inc. (“HDI” and, together with its
Subsidiaries, the “Company”).  This grant
is made under HDI’s 2004 Incentive Stock Plan (the “Plan”).

All of the
Restricted Stock Units will become fully unrestricted (or “vest”) on the fourth anniversary of the Grant Date, subject to accelerated
vesting and forfeiture as discussed below and in Exhibit A. You may not sell,
transfer or otherwise convey an interest in or pledge any of your Restricted
Stock Units.

As soon as
practicable following the date on which the Restricted Stock Units vest, the
Company will make a cash payment to you in your local currency using the spot
rate on the vesting date, less applicable withholding, equal to the product
obtained by multiplying the Fair Market Value of a share of Common Stock of HDI
on the vesting date by the number of Restricted Stock Units that have become
vested on such date.

The
Restricted Stock Units are granted under and governed by the terms and
conditions of the Plan and this Restricted Stock Unit Agreement including
Exhibit A.  Additional provisions
regarding your Restricted Stock Units and definitions of capitalized terms used
and not defined in this Restricted Stock Unit Agreement can be found in the
Plan. Without limitation, “Committee” means the Human Resources Committee of
the Board or its delegate in accordance with the Plan.

	
  

  	
  HARLEY-DAVIDSON, INC. and Subsidiaries

  
	
   

  	
  

  
	
   

  	
  Vice President and
  Treasurer

  
	
   

  	
   

  
	
   

  	
   

  	
  Date

  
	
   

  	
   

  	
  Time:

  

 

Exhibit A  to
Restricted Stock Unit Agreement

Termination
of Employment:  If your
employment with the Company and its Affiliates is terminated for any reason
other than death, Disability or Qualified Retirement (as defined below), then
you will forfeit any Restricted Stock Units that are not vested as of the date
your employment is terminated.  If you
cease to be employed by the Company and its Affiliates by reason of death,
Disability or Qualified Retirement, then, effective immediately prior to the
time of cessation of employment, a portion of the unvested Restricted Stock
Units will vest such that the total number of Restricted Stock Units that are
vested after giving effect to such vesting will be equal to the original number
of Restricted Stock Units subject to this Restricted Stock Unit Agreement
multiplied by a fraction the numerator of which is the number of Months
(counting a partial Month as a full Month) from the Grant Date until the date
your employment is terminated by reason of death, Disability or Qualified
Retirement, and the denominator of which is 48 months, and you will forfeit the
remaining Restricted Stock Units that are not vested. For purposes of this
Agreement, a “Month” shall mean the period that begins on the first calendar
day after the Grant Date, or the anniversary of the Grant Date that occurs in
each calendar month, and ends on the anniversary of the Grant Date that occurs
in the following calendar month.

“Qualified
Retirement” shall mean termination of employment from the Company and its
Affiliates, for reasons other than death, Disability, Cause (determined as
described below) or accepting other full-time employment, (a) on or after age
sixty-two (62), (b) on or after age fifty-five (55) if you have completed five
(5) years of service with the Company and its Affiliates at the time of such
termination or (c) with the consent of the Committee, under other
circumstances. “Cause” shall be determined by the Company in its discretion
though you will have the right to appeal the Company’s decision to the
Committee if you do so in writing within sixty (60) days after receiving notice
of termination for Cause from the Company. 
If you fail to appeal such decision within sixty (60) days, the Company’s
determination shall be final.  If you
timely file a written appeal with the Committee, the Committee’s decisions
shall be final and binding.

Accelerated
Vesting: If the average of the percentage payouts under the
Reference STIPs for the two full calendar years prior to the second anniversary
of the Grant Date (including the calendar year in which the Grant Date occurs)
is equal to or greater than 100%, then 50% of the Restricted Stock Units
(excluding any forfeited Shares) will vest on the second anniversary of the
Grant Date.  “Reference STIPs” means the
terms of the Short-Term Incentive Plan of the Company or any of its Affiliates
applicable to the class or classes of employees of which you were a part during
the two full calendar years prior to the second anniversary of the Grant Date,
and the average of the percentage payouts will be calculated by weighting each
percentage payout that relates to the period during which you were a part of a
class of employees based on the time in each year that you were a part of that
class of employees.

[over]

Voting
Rights and Dividends: 
You are not entitled to exercise any voting rights with respect to the
Common Stock of HDI underlying your Restricted Stock Units. You will receive a
cash payment equivalent to any dividends and other distributions paid with
respect to the Common Stock of HDI underlying your Restricted Stock Units
(reduced for any tax withholding due), so long as the applicable record date
occurs before you forfeit such Restricted Stock Units, which will be paid in
your local currency using the spot rate on the date the dividend or other
distribution is paid to shareholders. 
If, however, any dividends or distributions with respect to the Common
Stock of HDI underlying your Restricted Stock Units are paid in Shares rather
than cash, you will be credited with additional Restricted Stock Units equal to
the number of shares that you would have received had your Restricted Stock
Units been actual Shares, and such Restricted Stock Units will be subject to
the same risk of forfeiture and other terms of this Restricted Stock Unit
Agreement as are the Restricted Stock Units that are granted contemporaneously
with this Restricted Stock Unit Agreement. 
Any amounts due to you under this provision shall be paid to you, in
cash, no later than the end of the calendar year in which the dividend or other
distribution is paid to shareholders or, if later, the 15th day of the third month following the date the
dividends are paid to shareholders; provided that in the case of any
distribution with respect to which you are credited with additional Restricted
Stock Units that are subject to a risk of forfeiture, distribution shall be
made at the same time as payment is made in respect of the Restricted Stock
Units that are granted contemporaneously with this Restricted Stock Unit
Agreement.

Tax
Withholding:  To the
extent that your receipt of Restricted Stock Units, the vesting of Restricted
Stock Units or your receipt of payments in respect of Restricted Stock Units
results in income to you for federal or local taxes, the Company has the right
and authority to deduct or withhold from any compensation it would pay to you
(including payments in respect of Restricted Stock Units) an amount, and/or to
treat you as having surrendered vested Restricted Stock Units having a value,
sufficient to satisfy its withholding obligations.  In its discretion, the Company may require
you to deliver to the Company or to such other person as the Company may
designate at the time the Company is obligated to withhold taxes that arise
from such receipt or vesting, as the case may be, such amount as the Company
requires to meet its withholding obligation under applicable tax laws or
regulations.

Rejection/Acceptance:  You may return this Restricted
Stock Unit Agreement to the Company (in care of the Vice President and
Treasurer of HDI) within thirty (30) days after the Grant Date, and by doing so
you will forfeit any rights under this Restricted Stock Unit Agreement  If you choose to retain this Restricted Stock
Unit Agreement beyond that date, then you accept the terms of this Award,
acknowledge these tax implications and agree and consent to all amendments to
the Plan and the Harley-Davidson, Inc. 1995 Stock Option Plan through the Grant
Date as they apply to this Award and any prior awards to you of any kind under
such plans.Exhibit 10.1

INDEMNITY AGREEMENT (THIS “AGREEMENT”)

DATED AS OF               ,
200    ,

MADE BETWEEN RUSH ENTERPRISES, INC.,

A TEXAS CORPORATION (THE “COMPANY”),

AND                           
(“INDEMNITEE”)

WHEREAS, the Company is aware that competent and
experienced persons are increasingly reluctant to serve as directors, officers
or agents of corporations unless they are protected by comprehensive liability
insurance or indemnification, as a result of increased exposure to litigation
costs and risks resulting from their service to such corporations, and because
the exposure frequently bears no reasonable relationship to the compensation of
such directors, officers and other agents;

WHEREAS, the statutes and judicial decisions regarding
the duties of directors and officers are often difficult to apply, ambiguous,
or conflicting, and therefore fail to provide such directors, officers and
agents with adequate, reliable knowledge of legal risks to which they are
exposed or information regarding the proper course of action to take;

WHEREAS, plaintiffs often seek damages in such large
amounts and the costs of litigation may be so enormous (whether or not the case
is meritorious) that the defense or settlement of such litigation is often
beyond the personal resources of directors, officers and other agents;

WHEREAS, the Company believes that it is unfair for
its directors, officers and agents and the directors, officers and agents of
its subsidiaries to assume the risk of judgments and other expenses which may
occur in cases in which the director, officer or agent received no personal
profit and in cases where the director, officer or agent was not culpable;

WHEREAS, the Company recognizes that the issues in
controversy in litigation against a director, officer or agent of a corporation
such as the Company or any of its subsidiaries are often related to the
knowledge, motives and intent of such director, officer or agent, that he or
she is usually the only witness with knowledge of the essential facts and
exculpating circumstances regarding such matters, and that the long period of
time that usually elapses before the trial or other disposition of such
litigation often extends beyond the time that the director, officer or agent
can reasonably recall such matters; and may extend beyond the normal time for
retirement for such director, officer or agent with the result that he or she
(after retirement) or (in the event of his or her death) his or her spouse,
heirs, executors or administrators, may be faced with limited ability and undue
hardship in maintaining an adequate defense, which may discourage such a
director, officer or agent from serving in that position;

WHEREAS, based upon the experience of members of the
Board of Directors as business managers, the Board of Directors of the Company
(the “Board”) (i) has concluded that, to retain and attract talented and
experienced individuals to serve as directors, officers and agents of the
Company and its subsidiaries and to encourage such individuals to take the
business risks necessary for the success of the Company and its subsidiaries,
it is necessary for the Company to contractually indemnify its directors,
officers and agents and the directors, officers and agents of its subsidiaries,
and to assume for itself maximum liability for expenses and damages in 

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connection with claims against such directors,
officers and agents in connection with their service to the Company and its
subsidiaries, and (ii) has further concluded that the failure to provide such
contractual indemnification could result in great harm to the Company and its
subsidiaries and the Company’s shareholders;

WHEREAS, Article 2.02-1 of the Texas Business
Corporation Act, under which the Company is organized (“Article 2.02-1”),
empowers the Company to indemnify its directors, officers, employees and agents
by agreement and to indemnify persons who serve, at the request of the Company,
as the directors, officers, employees or agents of other corporations or
enterprises, and expressly provides that the indemnification provided by
Article 2.02-1 is not exclusive;

WHEREAS, the Company desires and has requested
Indemnitee to serve or continue to serve as a director, officer or agent of the
Company or one or more subsidiaries of the Company free from undue concern for
claims for damages arising out of or related to such services to the Company or
one or more subsidiaries of the Company; and

WHEREAS, Indemnitee is willing to serve, or to
continue to serve, the Company or one or more subsidiaries of the Company, provided
that Indemnitee is furnished the indemnity provided for herein.

NOW, THEREFORE, the parties hereto, intending to be
legally bound, hereby agree as follows:

SECTION
1.  DEFINITIONS.

(a)           Agent.  For
the purposes of this Agreement, “agent” of the Company means any person who (i)
is or was a director, officer, employee or other agent of the Company or a
subsidiary of the Company, (ii) is or was serving at the request of, for the
convenience of, or to represent the interests of the Company or a subsidiary of
the Company as a director, officer, employee or agent of another foreign or
domestic corporation, partnership, joint venture, trust or other enterprise,
(iii) was a director, officer, employee or agent of a foreign or domestic
corporation which was a predecessor corporation of the Company or a subsidiary
of the Company, or (iv) was a director, officer, employee or agent of another
enterprise at the request of, for the convenience of, or to represent the
interests of such predecessor corporation.

(b)           ERISA.  For
the purposes of this Agreement, “ERISA” means the Employee Retirement Income
Security Act of 1974, as amended.

(c)           Expenses. 
For purposes of this Agreement, “expenses” includes all direct and
indirect costs of any type or nature whatsoever (including, without limitation,
all attorneys’ fees and related disbursements, other out-of-pocket costs and
reasonable compensation for time spent by the Indemnitee for which Indemnitee
is not otherwise compensated by the Company or any third party) actually and reasonably
incurred by the Indemnitee in connection with either the investigation, defense
or appeal of a proceeding or the establishment or enforcement of a right to
indemnification under this Agreement or Article 2.02-1 or otherwise; provided,
however, that “expenses” shall not include any judgments, fines, ERISA
excise taxes or penalties, or amounts paid in settlement of a proceeding.

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(d)           Proceeding. 
For the purposes of this Agreement, “proceeding” means any threatened,
pending, or completed action, suit, arbitration, alternative dispute resolution
mechanism, investigation, inquiry, administrative hearing or any other actual,
threatened or completed proceeding, whether brought in the right of the Company
or otherwise and whether civil, criminal, administrative, investigative or any
other type whatsoever in which Indemnitee was, is or will be involved as a
party or otherwise by reason of the fact that Indemnitee is or was an agent of
the Company, by reason of any action taken by Indemnitee while acting as an
agent of the Company, or by reason of the fact that Indemnitee is or was
serving at the request of the Company as an agent of another corporation,
partnership, joint venture, trust, employee benefit plan or other enterprise,
in each case whether or not serving in such capacity at the time any liability
or expense is incurred of which indemnification, reimbursement, or advancement
of expenses can be provided under this Agreement.

(e)           Subsidiary. 
For purposes of this Agreement, “subsidiary” means any corporation of
which more than 50% of the outstanding voting securities is owned directly or
indirectly by the Company, by the Company and one or more other subsidiaries of
the Company, or by one or more other subsidiaries of the Company.

SECTION
2.  AGREEMENT TO SERVE.

Indemnitee agrees to serve or continue to serve as an
agent of the Company, at its will (or under separate agreement, if such
agreement exists), in the capacity Indemnitee currently serves as an agent of
the Company, so long as Indemnitee is duly appointed or elected and qualified
in accordance with the applicable provisions of the Bylaws of the Company or
any subsidiary of the Company or until such time as Indemnitee tenders
Indemnitee’s resignation in writing; provided, however, that nothing contained
in this Agreement is intended to create any right to continued employment by
Indemnitee.

SECTION
3.  LIABILITY INSURANCE.

(a)           Maintenance of D&O Insurance.  The Company hereby covenants and agrees that,
so long as Indemnitee shall continue to serve as an agent of the Company and
thereafter so long as Indemnitee shall be subject to any possible proceeding by
reason of the fact that Indemnitee was an agent of the Company, the Company,
subject to Section 3(c), shall promptly obtain and maintain in full
force and effect directors’ and officers’ liability insurance (“D&O
Insurance”) in reasonable amounts from established and reputable insurers.

(b)           Rights and Benefits.  In all policies of D&O Insurance,
Indemnitee shall be named as an insured in such a manner as to provide
Indemnitee the same rights and benefits as are accorded to the most favorably
insured of the Company’s directors, if Indemnitee is a director, or of the
Company’s officers, if Indemnitee is not a director of the Company but is an
officer, or of the Company’s key employees, if Indemnitee is not a director or
officer.

(c)           Limitation on Required Maintenance of D&O Insurance.  Notwithstanding the foregoing, the Company
shall have no obligation to obtain or maintain D&O Insurance if the Company
determines in good faith that such insurance is not reasonably available, the
premium costs for such insurance are disproportionate to the amount of coverage
provided, the coverage 

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provided by such insurance is limited by
exclusions so as to provide an insufficient benefit, or Indemnitee is covered
by similar insurance maintained by a subsidiary of the Company or by another
person pursuant to a contractual obligation owed to the Company or Indemnitee.

SECTION
4.  MANDATORY INDEMNIFICATION.

Subject to Section 10 below, the Company shall
indemnify Indemnitee as follows:

(a)           Successful Defense. 
To the extent Indemnitee has been successful on the merits or otherwise
in defense of any proceeding (including, without limitation, an action by or in
the right of the Company) to which Indemnitee was a party by reason of the fact
that Indemnitee is or was or had agreed to become an agent of the Company at
any time, the Company shall indemnify Indemnitee against all expenses of any
type whatsoever actually and reasonably incurred by Indemnitee in connection
with the investigation, defense or appeal of such proceeding.

(b)           Third-Party Actions.  If Indemnitee was or is a party or is
threatened to be made a party to any proceeding (other than an action by or in
the right of the Company) by reason of the fact that Indemnitee is or was or
had agreed to become an agent of the Company, or by reason of anything done or
not done by Indemnitee in any such capacity, the Company shall indemnify
Indemnitee against any and all expenses and liabilities of any type whatsoever
(including, without limitation, judgments, fines, ERISA excise taxes and
penalties, and amounts paid in settlement) actually and reasonably incurred by
Indemnitee in connection with the investigation, defense, settlement or appeal
of such proceeding, provided Indemnitee acted in good faith and in a manner
Indemnitee reasonably believed to be in or not opposed to the best interests of
the Company and its shareholders, and, with respect to any criminal action or proceeding,
had no reasonable cause to believe Indemnitee’s conduct was unlawful.

(c)           Derivative Actions. 
If Indemnitee was or is a party or is threatened to be made a party to
any proceeding by or in the right of the Company to procure a judgment in its
favor by reason of the fact that Indemnitee is or was or had agreed to become
an agent of the Company, or by reason of anything done or not done by
Indemnitee in any such capacity, the Company shall indemnify Indemnitee against
any amounts paid in settlement of any such proceeding and all expenses actually
and reasonably incurred by him in connection with the investigation, defense,
settlement, or appeal of such proceeding, provided Indemnitee acted in good
faith and in a manner Indemnitee reasonably believed to be in or not opposed to
the best interests of the Company and its shareholders.  The Company shall indemnify Indemnitee
against judgments, fines, ERISA excise taxes and penalties to the same extent
and subject to the same conditions as described in the immediately preceding
sentence.  Notwithstanding the foregoing,
no indemnification under this Section 4(c) shall be made in respect of
any claim, issue or matter as to which Indemnitee shall have been finally
adjudged to be liable to the Company by a court of competent jurisdiction
unless (and only to the extent that) the court in which such proceeding was
brought shall determine upon application that, despite the adjudication of
liability but in view of all the circumstances of the case, Indemnitee is fairly
and reasonably entitled to indemnity for such amounts which the court shall
deem proper.

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(d)           Actions Where Indemnitee is Deceased.  If Indemnitee was or is a party or is
threatened to be made a party to any proceeding by reason of the fact that
Indemnitee is or was or had agreed to become an agent of the Company, or by
reason of anything done or not done by Indemnitee in any such capacity, and if
prior to, during the pendency of or after completion of such proceeding
Indemnitee becomes deceased, the Company shall indemnify Indemnitee’s heirs,
executors and administrators against any and all expenses and liabilities of
any type whatsoever (including, without limitation, judgments, fines, ERISA
excise taxes and penalties, and amounts paid in settlement) actually and
reasonably incurred to the extent Indemnitee would have been entitled to
indemnification pursuant to Section 4(a), 4(b) or 4(c) above were
Indemnitee still alive.

(e)           Actions Where Indemnitee is a Witness.  Notwithstanding any other provision of this
Agreement, to the extent that Indemnitee is, by reason of the fact that
Indemnitee is or was an agent of the Company, a witness in any proceeding to
which Indemnittee is not a party, the Company shall indemnify Indemnitee
against all expenses reasonably and actually incurred by Indemnitee or on
Indemnittee’s behalf in connection therewith.

(f)            Limit to Indemnity.  Notwithstanding the foregoing, the Company
shall not be obligated to indemnify Indemnitee for expenses or liabilities of
any type whatsoever (including, without limitation, judgments, fines, ERISA
excise taxes and penalties, and amounts paid in settlement) for which payment
is actually made to Indemnitee under a valid and collectible policy of D&O
Insurance, or under a valid and enforceable indemnity clause, bylaw or other
agreement, except in respect of any excess beyond payment under such insurance,
clause, bylaw or agreement.

(g)           Good Faith Defined. 
For purposes of this Agreement, Indemnitee shall be deemed to have acted
in good faith and in a manner Indemnitee reasonably believed to be in or not
opposed to the best interests of the Company and its shareholders, or, with
respect to any criminal action or proceeding, to have had no reasonable cause
to believe Indemnitee’s conduct was unlawful, if in either such case Indemnitee’s
action is based on the records or books of account of the Company or any of its
subsidiaries, or on information supplied to Indemnitee by the officers of the
Company or any of its subsidiaries in the course of Indemnitee’s duties, or on
the advice (which advice shall, in the case of any criminal act or proceeding,
be in writing) of legal counsel for the Company or any of its subsidiaries, or
on information or records given or reports made to the Company or any of its subsidiaries
by an independent certified public accountant or by an appraiser or other
expert selected by the Company or any of its subsidiaries.  The provisions of this Section 4(g)
shall not be deemed to be exclusive or to limit in any way the circumstances in
which Indemnitee may be deemed to have met the applicable standard of conduct
required to entitle Indemnitee to indemnification hereunder.  Further, the termination of any proceeding by
judgment, order, settlement, conviction or upon a plea of nolo contendere or
its equivalent shall not, of itself, create a presumption that Indemnitee did
not act in good faith and in a manner which Indemnitee reasonably believed to
be in or not opposed to the best interests of the Company or its shareholders
and, with respect to any criminal action or proceeding, had reasonable cause to
believe that such Indemnitee’s conduct was unlawful.

(h)           No Imputation. 
The knowledge or actions or failure to act of any other director,
officer, employee or agent of the Company or other enterprise, as applicable,
shall not be 

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imputed to Indemnitee for purposes of
determining Indemnitee’s entitlement to indemnification under this Agreement.

SECTION
5.  PARTIAL INDEMNIFICATION.

If Indemnitee is entitled under any provision of this
Agreement to indemnification by the Company for some or a portion of any
expenses or liabilities of any type whatsoever (including, without limitation,
judgments, fines, ERISA excise taxes and penalties, and amounts paid in
settlement) incurred by Indemnitee in the investigation, defense, settlement or
appeal of a proceeding, but is not entitled to indemnification for the total
amount thereof, the Company shall nevertheless indemnify Indemnitee for the
portion thereof to which the Indemnitee is entitled.

SECTION
6.  MANDATORY ADVANCEMENT OF EXPENSES.

Subject to Section 10(a) below, the Company
shall advance all expenses incurred by Indemnitee in connection with the
investigation, defense, settlement or appeal of any proceeding to which
Indemnitee is a party or is threatened to be made a party by reason of the fact
that Indemnitee is or was or had agreed to become an agent of the Company.  Such advances shall be made on an unsecured
basis, shall be interest free and shall be made without regard to Indemnitee’s ability
to repay such amounts and without regard to Indemnitee’s ultimate entitlement
to indemnification under this Agreement or otherwise; provided, however,
that as a condition to the advancement of expenses with respect to a
proceeding, the Company may require that Indemnitee provide a written
affirmation of Indemnitee’s good faith belief that Indemnittee has met the
standard of conduct necessary for indemnification under Texas law and a written
undertaking to repay such amounts advanced only if, and to the extent that, it
shall be ultimately determined pursuant to Section 8 hereof that
Indemnitee is not entitled to be indemnified hereunder by the Company with
respect thereto.  The advances to be made
hereunder shall be paid by the Company to Indemnitee within 20 days following
delivery of a written request therefor by Indemnitee to the Company.

SECTION
7.  NOTICE AND OTHER INDEMNIFICATION
PROCEDURES.

(a)           Promptly after receipt by Indemnitee of notice of the
commencement of, or the threat of commencement of, any proceeding, the
Indemnitee shall, if the Indemnitee believes that indemnification with respect
thereto may be sought from the Company under this Agreement, notify the Company
of the commencement, or threat of commencement, thereof, provided that any
failure to so notify shall not relieve the Company from any liability it may
have to Indemnitee hereunder except to the extent the Company is materially
prejudiced thereby.

(b)           If, at the time of the receipt of a notice of the
commencement of a proceeding pursuant to Section 7(a) hereof, the
Company has D&O Insurance in effect, the Company shall give prompt notice
of the commencement of such proceeding to the insurers in accordance with the
procedures set forth in the respective policies.  The Company shall thereafter take all
necessary or desirable action to cause such insurers to pay, on behalf of
Indemnitee, all amounts payable as a result of such proceeding in accordance
with the terms of such policies.

(c)           In the event the Company shall be obligated to pay the
expenses of any proceeding against Indemnitee, the Company, if appropriate,
shall be entitled to assume the 

 6
 

defense of such proceeding, with counsel
reasonably satisfactory to Indemnitee, upon the delivery to Indemnitee of
written notice of its election so to do. 
After delivery of such notice, approval of such counsel by Indemnitee
and the retention of such counsel by the Company, the Company will not be
liable to Indemnitee under this Agreement for any fees of counsel subsequently
incurred by the Indemnitee with respect to the same proceeding; provided,
however, that (i) the Company shall not settle any proceeding (in whole
or in part) which would impose any expense, liability or limitation on
Indemnitee without Indemnitee’s prior written consent, such consent not to be
unreasonably withheld, (ii) Indemnitee shall have the right to employ
separate counsel in any such proceeding at Indemnitee’s expense and (iii) if
(A) the employment of separate counsel by Indemnitee has been previously
authorized by the Company, (B) Indemnitee shall have reasonably concluded that
there may be a conflict of interest between the Company and Indemnitee in the
conduct of any such defense, or (C) the Company shall not, in fact, have
employed counsel within a reasonable period of time to assume the defense of
such proceeding, the fees and expenses of Indemnitee’s separate counsel shall
be at the expense of the Company.

SECTION
8.  DETERMINATION OF RIGHT TO
INDEMNIFICATION.

(a)           To the extent Indemnitee has been successful on the merits
or otherwise in the defense of any proceeding referred to in Section 4(a),
4(b), 4(c) or 4(d) of this Agreement or in the defense of any claim, issue
or matter described therein, the Company shall indemnify Indemnitee against
expenses actually and reasonably incurred by Indemnitee in connection with the
investigation, defense or appeal of such proceeding.

(b)           Indemnitee shall be entitled to select the forum for
determining, as described below, the validity of any claim by the Company that
Indemnitee is not entitled to indemnification hereunder, which forum shall
determine that Indemnitee is entitled to such indemnification unless the
Company shall prove by clear and convincing evidence that (i) Indemnitee has
not met the applicable standard of conduct required to entitle Indemnitee to
such indemnification or that indemnification is otherwise not required pursuant
to Section 4 or Section 10 hereof and (ii) the
requirements of Section 8(a) have not been met.  The forum shall determine that Indemnitee is
entitled to enforce a claim for advancement of expenses pursuant to Section 6
hereof unless the Company shall prove by clear and convincing evidence that
Indemnitee has not tendered the required undertaking to the Company.  Indemnitee shall be entitled to select the
forum from the following list:

(i)            a quorum of the
Board consisting of directors who are not parties to the proceeding for which
indemnification is being sought;

(ii)           the shareholders of
the Company;

(iii)          legal counsel
selected by Indemnitee, and reasonably approved by the Board, which counsel
shall make such determination in a written opinion; or

(iv)          a panel of three
arbitrators, one of whom is selected by the Company, another of whom is
selected by Indemnitee and the last of whom is selected by the first two
arbitrators so selected.

 7
 

(c)           As soon as practicable, and in no event later than 30 days
after written notice of Indemnitee’s choice of forum pursuant to Section
8(b) above, the Company shall, at its own expense, submit to the selected
forum, in such manner as Indemnitee or Indemnitee’s counsel may reasonably
request, its claim that Indemnitee is not entitled to indemnification, and the
Company shall act in the utmost good faith to assure Indemnitee a complete
opportunity to defend against such claim.

(d)           If the forum selected in Section 8(b) above
determines that Indemnitee is entitled to indemnification, payment to
Indemnitee shall be made within 20 days after such determination.

(e)           Any right to indemnification or advances granted by this
Agreement to Indemnitee shall be enforceable by or on behalf of Indemnitee in
the court in which that proceeding is or was pending or any other court of
competent jurisdiction, if (i) the claim for indemnification or advances is
denied, in whole or in part, (as further discussed in Section 9 below)
or (ii) no disposition of such claim is made within 90 days of request
therefor.  Indemnitee shall be entitled
to indemnification unless the Company shall prove by clear and convincing
evidence that (i) Indemnitee has not met the applicable standard of conduct
required to entitle Indemnitee to such indemnification or that indemnification
is otherwise not required pursuant to Section 4 or Section 10
hereof and (ii) the requirements of Section 8(a) have not been met.  Indemnitee shall be entitled to enforce a
claim for expenses pursuant to Section 6 hereof unless the Company shall
prove by clear and convincing evidence that Indemnitee has not tendered the
required affirmation and undertaking to the Company.  Neither the failure of the Company (including
its Board of Directors or its shareholders) to have made a determination prior
to the commencement of such enforcement action that indemnification of
Indemnitee is proper in the circumstances nor an actual determination by the
Company (including its Board of Directors or its shareholders) that such
indemnification is improper shall be a defense to the action or create a
presumption that the Indemnitee is not entitled to indemnification under this
Agreement or otherwise.

(f)            Notwithstanding any other provision in this Agreement to
the contrary, the Company shall indemnify Indemnitee against all expenses
incurred by Indemnitee in connection with any hearing or proceeding under this Section
8 involving Indemnitee and against all expenses incurred by Indemnitee in
connection with any other proceeding between the Company and Indemnitee
involving the interpretation or enforcement of the rights of Indemnitee under
this Agreement, unless a court of competent jurisdiction finds that each of the
claims or defenses of Indemnitee in any such proceeding was frivolous or made
in bad faith.

SECTION
9.  RIGHTS TO ADJUDICATION OF ADVERSE
DETERMINATION, ETC.

(a)           Adjudication or Arbitration.  Indemnitee shall be entitled to an adjudication
(by a court of competent jurisdiction or, at Indemnitee’s option, through an
arbitration conducted by a panel of three arbitrators (selected in the same
manner presented in Section 8(b)(iv)) pursuant to the Commercial
Arbitration Rules of the American Arbitration Association) of any determination
pursuant to Section 8 that Indemnitee is not entitled to indemnification
under this Agreement.  Any such
adjudication shall be conducted in all respects as a de novo trial or arbitration on the merits, and any prior
adverse determination shall not be referenced to or introduced into 

 8
 

evidence, create a presumption that
Indemnitee is not entitled to indemnification or advancement of expenses, be a
defense or otherwise adversely affect Indemnitee.  In any such judicial proceeding or
arbitration, the provisions of Section 8(e) (including the presumption
in favor of Indemnitee and the burdens on the Company) shall apply.

(b)           Indemnitee shall also be entitled to an adjudication (by a
court of competent jurisdiction or, at Indemnitee’s option, through an
arbitration as described above) of any other disputes under this Agreement.

(c)           If a determination shall have been made pursuant to Section
8 that Indemnitee is entitled to indemnification, the Company shall be bound
by such determination in any judicial proceeding or arbitration commenced
pursuant to this Section 9, absent a misstatement of a material fact in
the information provided by Indemnitee pursuant to Section 7 or Section
8 or an omission of a material fact necessary in order to make the
information provided not misleading.

(d)           In connection with any judicial proceeding or arbitration
commenced pursuant to this Section 9, the Company shall not oppose
Indemnitee’s right to seek such adjudication, shall be precluded from asserting
that the procedures and presumptions of this Agreement are not valid, binding
or enforceable and shall stipulate in any such court or before any such
arbitrator that the Company is bound by all of the provisions of this
Agreement.

SECTION
10.  EXCEPTIONS.

Any other provision herein to the contrary
notwithstanding:

(a)           Claims Initiated by the Indemnitee.  The Company shall not be obligated pursuant
to the terms of this Agreement to indemnify or advance expenses to Indemnitee
with respect to proceedings or claims initiated or brought voluntarily by
Indemnitee and not by way of defense, unless (i) such indemnification is
expressly required to be made by law, (ii) the proceeding was authorized by the
Board, (iii) such indemnification is provided by the Company, in its sole
discretion, pursuant to the powers vested in the Company under the Texas
Business Corporation Act or (iv) the proceeding is brought to establish or
enforce a right to indemnification under this Agreement or any other statute or
law or otherwise as required under Article 2.02-1.

(b)           Lack of Good Faith. 
The Company shall not be obligated pursuant to the terms of this
Agreement to indemnify Indemnitee for any expenses incurred by Indemnitee with
respect to any proceeding instituted by the Indemnitee to enforce or interpret
this Agreement if a court of competent jurisdiction determines that each of the
material assertions made by Indemnitee in such proceeding was not made in good
faith or was frivolous.

(c)           Unauthorized Settlements.  The Company shall not be obligated pursuant
to the terms of this Agreement to indemnify Indemnitee under this Agreement for
any amounts paid in settlement (without the authorization of the Company) of a
proceeding unless Indemnitee in making such settlement acted reasonably and in
good faith.

 9
 

SECTION
11.  MISCELLANEOUS.

(a)           Non-exclusivity. 
The provisions for indemnification and advancement of expenses set forth
in this Agreement shall not be deemed exclusive of any other rights which
Indemnitee may have under any provision of law, the direction (howsoever
embodied) of any court of competent jurisdiction, the Company’s Articles of
Incorporation or Bylaws, the vote of the Company’s shareholders or
disinterested directors, other agreements, or otherwise, both as to action in
Indemnitee’s official capacity and to action in another capacity while
occupying Indemnitee’s position as an agent of the Company, and Indemnitee’s
rights hereunder shall continue after Indemnitee has ceased acting as an agent
of the Company and shall inure to the benefit of the heirs, executors and
administrators of Indemnitee.

(b)           Subrogation. 
In the event of payment under this Agreement, the Company shall be
subrogated to the extent of such payment to all the rights of recovery of
Indemnitee, who shall execute all documents required and shall do all acts that
may be necessary to secure such rights and to enable the Company effectively to
bring suit to enforce such rights.

(c)           Contribution. 
To the fullest extent permissible under applicable law, if the
indemnification provided for in this Agreement is unavailable to Indemnitee for
any reason whatsoever, the Company, in lieu of indemnifying Indemnitee, shall
contribute to the amount incurred by Indemnitee or on Indemnitee’s behalf,
whether for liabilities and/or expenses in connection with any proceeding or
other expenses relating to an indemnifiable event or transaction under this
Agreement, in such proportion as is deemed fair and reasonable in light of all
the circumstances of such action, suit or other proceeding in order to reflect
(i) the relative benefits received by the Company and Indemnitee as a result of
the event(s) or transaction(s) giving rise to such action, suit or other
proceeding, and/or (ii) the relative fault of the Company (and its directors,
officers, employees and agents) and Indemnitee in connection with such event(s)
and/or transaction(s).

(d)           Survival of Rights.

(i)            All agreements and
obligations of the Company contained herein shall continue during the period
Indemnitee is an agent of the Company and shall continue thereafter so long as
Indemnitee shall be subject to any possible claim or proceeding.

(ii)           The Company shall
require any successor to the Company or to all or substantially all the
business or assets of the Company (whether direct or indirect, by purchase,
merger, consolidation or otherwise, and through a single transaction or a
series of transactions), expressly to assume and agree to perform this
Agreement in the same manner and to the same extent that the Company would be
required to perform if no such succession had taken place.

(e)           Interpretation of Agreement.  It is understood that the parties hereto
intend this Agreement to be interpreted and enforced so as to provide
indemnification to Indemnitee to the fullest extent permitted by law, including
those circumstances in which indemnification would otherwise be discretionary.

 10
 

(f)            Severability. 
If any provision or provisions of this Agreement shall be held to be
invalid, illegal or unenforceable for any reason whatsoever, (i) the validity,
legality and enforceability of the remaining provisions of this Agreement
(including, without limitation, all portions of any paragraph of this Agreement
containing any such provision held to be invalid, illegal or unenforceable that
are not themselves invalid, illegal or unenforceable) shall not in any way be
affected or impaired thereby and (ii) to the fullest extent possible, the
provisions of this Agreement (including, without limitation, all portions of any
paragraph of this Agreement containing any such provision held to be invalid,
illegal or unenforceable that are not themselves invalid, illegal or
unenforceable) shall be construed so as to give effect to the intent manifested
by the provision held to be invalid, illegal or unenforceable and to give
effect to Section 8 hereof.

(g)           Modification and Waiver.  No supplement, modification or amendment of
this Agreement shall be binding unless executed in writing by both of the
parties hereto.  No waiver of any of the
provisions of this Agreement shall be deemed or shall constitute a waiver of
any other provisions hereof (whether or not similar) nor shall such waiver
constitute a continuing waiver.

(h)           Notice.  All
notices, requests, demands and other communications under this Agreement shall
be in writing and shall be deemed duly given (i) if delivered by hand and
receipted for by the party addressee or (ii) if mailed by certified or
registered mail, with postage prepaid, on the third business day after the mailing
date.  Addresses for notice to either
party are as shown opposite such party’s signature to this Agreement or as
subsequently modified by written notice.

(i)            Governing Law. 
This Agreement shall be governed exclusively by and construed according
to the laws of the State of Texas as applied to contracts between Texas
residents entered into and to be performed entirely within Texas.

(j)            Consent to Jurisdiction.  The Company and Indemnitee each hereby
irrevocably consent to the jurisdiction of the courts of the State of Texas for
all purposes in connection with any action or proceeding which arises out of or
relates to this Agreement and agree that any action instituted under this
Agreement shall be brought only in the state courts of the State of Texas.

(k)           Entire Agreement. 
Subject to Section 11(a) hereof, this Agreement constitutes
the entire agreement between the parties hereto with respect to the matters
covered herein.  This Section 11(k)
shall not be construed to limit any other rights Indemnitee may have under the
Company’s Articles of Incorporation, the Company’s Bylaws, applicable law or
otherwise.

(l)            Counterparts. 
This Agreement may be executed in multiple counterparts, each of which
shall be considered an original.

[Remainder
of Page Intentionally Left Blank; Signature Page Follows]

 

 11

IN WITNESS WHEREOF AND INTENDING TO BE LEGALLY BOUND
HEREBY, the parties hereto have entered into this Indemnity Agreement effective
as of the date first above written.

	
  ADDRESSES: 

  	
  THE COMPANY: 

  
	
   

  	
   

  
	
  555 IH 35 South 

  	
  RUSH ENTERPRISES, INC. 

  
	
  New Braunfels, Texas 78130

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
  Name:  

  	
   

  
	
   

  	
  Title:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  INDEMNITEE:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  [Name]

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