Document:

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                                                                   Exhibit 10.30

                                     ANNEX X

                                       to

                   RECEIVABLES SALE AND CONTRIBUTION AGREEMENT

                                       and

                  RECEIVABLES PURCHASE AND SERVICING AGREEMENT,

                        each dated as of April 11, 2002,

                         Definitions and Interpretation

                                          Wabash National Corporation et al. and
                                                            WNC Receivables, LLC
                                                                         Annex X

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     SECTION 1. Definitions and Conventions. Capitalized terms used in the Sale
Agreement and the Purchase Agreement shall have (unless otherwise provided
elsewhere therein) the following respective meanings:

     "ACCOUNTS" shall mean the Collection Account and the Lockbox Accounts,
collectively.

     "ACCOUNTING CHANGES" shall mean, with respect to any Person, (a) changes in
accounting principles required by the promulgation of any rule, regulation,
pronouncement or opinion of the Financial Accounting Standards Board of the
American Institute of Certified Public Accountants (or any successor thereto or
any agency with similar functions); (b) changes in accounting principles
concurred in by such Person's certified public accountants; (c) purchase
accounting adjustments under A.P.B. 16 or 17 and EITF 88-16, and the application
of the accounting principles set forth in FASB 109, including the establishment
of reserves pursuant thereto and any subsequent reversal (in whole or in part)
of such reserves; and (d) the reversal of any reserves established as a result
of purchase accounting adjustments.

     "ACCUMULATED FUNDING DEFICIENCY" shall mean an "accumulated funding
deficiency" as defined in Section 412 of the Code and Section 302 of ERISA,
whether or not waived.

     "ACCRUED SERVICING FEE" shall mean, as of any date of determination within
a Settlement Period, the sum of the Servicing Fees calculated for each day from
and including the first day of the Settlement Period through and including such
date.

     "ACCRUED UNUSED FACILITY FEE" shall mean, as of any date of determination
within a Settlement Period, the sum of the Unused Facility Fees calculated for
each day from and including the first day of the Settlement Period through and
including such date.

     "ACQUISITION" shall mean any transaction, or any series of related
transactions, consummated on or after the Closing Date, by which the Parent or
any of its Subsidiaries (a) acquires any going business or all or substantially
all of the assets of any firm, corporation or division thereof which constitutes
a going business, whether through purchase of assets, merger or otherwise or (b)
directly or indirectly acquires (in one transaction or as the most recent
transaction in a series of transactions) at least a majority (in number of
votes) of the securities of a corporation which have ordinary voting power for
the election of directors (other than securities having such power only by
reason of the happening of a contingency) or a majority (by percentage of voting
power) of the outstanding partnership interests of a partnership or a majority
(by percentage or voting power) of the outstanding ownership interests of a
limited liability company.

     "ACQUISITION PURCHASE PRICE" shall mean the total consideration and other
amounts payable in connection with any Acquisition, including, without
limitation, any portion of the consideration payable in cash, the value of any
capital stock or other Equity Interests of the Parent or any Subsidiary (other
than the Seller or the Independent Member) issued as

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                                          Wabash National Corporation et al. and
                                                            WNC Receivables, LLC
                                                                         Annex X

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consideration for such Acquisition, all Indebtedness and other monetary
liabilities incurred or assumed in connection with such Acquisition and all
transaction costs and expenses incurred in connection with such Acquisition.

     "ADDITIONAL AMOUNTS" shall mean any amounts payable to any Affected Party
under Sections 2.09 or 2.10 of the Purchase Agreement.

     "ADDITIONAL COSTS" shall have the meaning assigned to it in Section 2.09(b)
of the Purchase Agreement.

     "ADMINISTRATIVE AGENT" shall mean the Agent, in its capacity as the Agent
for the Purchasers under the Purchase Agent.

     "ADVERSE CLAIM" shall mean any claim of ownership or any Lien, other than
any ownership interest or Lien created under the Sale Agreement or the Purchase
Agreement.

     "AFFECTED PARTY" shall mean each of the following Persons: the Purchasers,
the Agent, the Depositary and each Affiliate of the foregoing Persons.

     "AFFILIATE" shall mean, with respect to any Person, (a) each Person that,
directly or indirectly, owns or controls, whether beneficially, or as a trustee,
guardian or other fiduciary, five percent (5%) or more of the Equity Interests
having ordinary voting power in the election of directors of such Person, (b)
each Person that controls, is controlled by or is under common control with such
Person, or (c) each of such Person's officers, directors, joint venturers and
partners. For the purposes of this definition, "control" of a Person shall mean
the possession, directly or indirectly, of the power to direct or cause the
direction of its management or policies, whether through the ownership of voting
securities, by contract or otherwise.

     "AGENT" shall have the meaning set forth in the Preamble of the Purchase
Agreement.

     "AGGREGATE INTEREST EXPENSE" shall mean, with respect to the Parent and its
consolidated Subsidiaries for any fiscal period, interest expense (whether cash
or non-cash) of such Person determined in accordance with GAAP for the relevant
period ended on such date, including interest expense with respect to any Funded
Indebtedness of such Person and interest expense for the relevant period that
has been capitalized on the balance sheet of such Person.

     "AGGREGATE INTEREST COVERAGE RATIO" shall mean, as of any date the same is
to be determined, the ratio of (i) Consolidated EBITDA as of such date for (A)
in the case of calculating Consolidated EBITDA for each relevant month in the
Parent's fiscal year ending on or about December 31, 2002, the cumulative period
of months ending on and after April 30, 2002 and (B) in the case of calculating
Consolidated EBITDA for each month thereafter, the period of four consecutive
fiscal quarters then ending to (ii) Aggregate Interest Expense during the same
applicable periods.

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                                          Wabash National Corporation et al. and
                                                            WNC Receivables, LLC
                                                                         Annex X

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     "AGREEMENT ACCOUNTING PRINCIPLES" shall mean generally accepted accounting
principles as in effect from time to time in the United States, applied in a
manner consistent with those used in preparing the financial statements referred
to in Section 4.01(f) of the Sale Agreement.

     "ANCILLARY SERVICES AND LEASE AGREEMENT" shall mean that certain Ancillary
Services and Lease Agreement dated as of April 11, 2002 between Parent and the
Seller.

     "APPENDICES" shall mean, with respect to any Related Document, all
exhibits, schedules, annexes and other attachments thereto, or expressly
identified thereto.

     "ASSIGNMENT AGREEMENT" shall have the meaning assigned to it in Section
14.02(a) of the Purchase Agreement.

     "AUTHORIZED OFFICER" shall mean, with respect to any corporation or limited
liability company, as the case may be, the Chief Executive Officer, Chief
Financial Officer, Treasurer, Chairman or Vice-Chairman of the Board, the
President, any Vice President, the Secretary, the Treasurer, any Assistant
Secretary, any Assistant Treasurer and each other officer of such corporation or
limited liability company specifically authorized in resolutions of the Board of
Directors or Board of Managers of such corporation or limited liability company,
as the case may be, to sign agreements, instruments or other documents on behalf
of such corporation in connection with the transactions contemplated by the Sale
Agreement, the Purchase Agreement and the other Related Documents.

     "AVAILABILITY" shall mean, as of any date of determination, the amount
equal to the lesser of: (a) the Available Accounts Receivables minus (i)
Availability Block and minus (ii) accrued Servicing Fee for the Settlement
Period in which the date of determination falls, and (b) the Maximum Purchase
Limit.

     "AVAILABILITY BLOCK" shall mean

          (a) for the period from and after the date hereof through and
including June 15, 2002, the greater of

               (i)  25% of the aggregate amount of Available Accounts
                    Receivables (but in no event greater than $15,000,000) or

               (ii) $7,500,000,

          and

          (b) at all times thereafter, $15,000,000; PROVIDED, HOWEVER, that if
the Availability Block is less than $15,000,000 on June 15, 2002, then the
Availability Block between June 16, 2002 and June 30, 2002 shall mean the actual
Availability Block in effect on June 15, 2002 plus $250,000 per diem thereafter
until the earlier to occur of

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                                          Wabash National Corporation et al. and
                                                            WNC Receivables, LLC
                                                                         Annex X

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               (i)  June 30, 2002 (when it shall be $15,000,000), or

               (ii) the day on which the sum of such actual Availability Block
                    plus such $250,000 increments is not less than $15,000,000.

     "AVAILABLE ACCOUNTS RECEIVABLES" shall mean the Investment Base multiplied
by the Purchase Discount Rate.

     "BANKRUPTCY CODE" shall mean the provisions of title 11 of the United
States Code, 11 U.S.C. ss.ss. 101 et seq.

     "BENEFIT PLAN" shall mean a defined benefit plan as defined in Section
3(35) of ERISA (other than a Multiemployer Plan) in respect of which the Parent
or any other member of the Controlled Group is, or within the immediately
preceding six (6) years was, an "employer" as defined in Section 3(5) of ERISA.

     "BILLED AMOUNT" shall mean, with respect to any Receivable, the amount
billed on the Billing Date to the Obligor thereunder.

     "BILLING DATE" shall mean, with respect to any Receivable, the date on
which the invoice with respect thereto was generated and billed to the Obligor.

     "BREAKAGE COSTS" shall have the meaning assigned to it in Section 2.10 of
the Purchase Agreement.

     "BRINGDOWN CERTIFICATE" shall have the meaning assigned to it in Section
5.02 of the Purchase Agreement.

     "BUSINESS DAY" shall mean any day that is not a Saturday, a Sunday or a day
on which banks are required or permitted to be closed in any of the States of
Illinois, Indiana or New York.

     "BUYER" shall mean Seller in its capacity as the purchaser under the Sale
Agreement.

     "BUYER INDEMNIFIED PERSON" shall have the meaning assigned to it in Section
5.01 of the Sale Agreement.

     "CAPITAL INVESTMENT" shall mean, as of any date of determination, the
amount equal to (a) the aggregate deposits made by the Purchaser to the
Collection Account pursuant to Section 2.04(b)(i) of the Purchase Agreement on
or before such date, minus (b) the aggregate amounts disbursed to the Purchaser
in reduction of Capital Investment pursuant to Section 6.03 of the Purchase
Agreement on or before such date.

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                                          Wabash National Corporation et al. and
                                                            WNC Receivables, LLC
                                                                         Annex X

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     "CAPITAL INVESTMENT AVAILABLE" shall mean, as of any date of determination,
the amount, if any, by which Availability exceeds Capital Investment, in each
case as of the end of the immediately preceding day.

     "CAPITALIZED LEASE" shall mean, with respect to any Person, any lease of
any property (whether real, personal or mixed) by such Person as lessee that, in
accordance with Agreement Accounting Principles, would be required to be
classified and accounted for as a capital lease on a balance sheet of such
Person.

     "CAPITALIZED LEASE OBLIGATION" shall mean, with respect to any Capitalized
Lease of any Person, the amount of the obligation of the lessee thereunder that,
in accordance with Agreement Accounting Principles, would appear on a balance
sheet of such lessee in respect of such Capitalized Lease.

     "CASH EQUIVALENTS" shall mean (i) marketable direct obligations issued or
unconditionally guaranteed by the government of the United States; (ii) domestic
and Eurodollar certificates of deposit and time deposits, bankers' acceptances
and floating rate certificates of deposit issued by any commercial bank
organized under the laws of the United States, any state thereof, the District
of Columbia, or its branches or agencies and having capital and surplus in an
aggregate amount not less than $500,000,000 (fully protected against currency
fluctuations for any such deposits with a term of more than ten (10) days);
(iii) shares of money market, mutual or similar funds having net assets in
excess of $500,000,000 maturing or being due or payable in full not more than
one hundred eighty (180) days after the Parent's acquisition thereof and the
investments of which are limited to investment grade securities (i.e.,
securities rated at least Baa by Moody's Investors Service, Inc. or at least BBB
by Standard & Poor's Ratings Group) and (iv) commercial paper of United States
banks and bank holding companies and their subsidiaries and United States
finance, commercial, industrial or utility companies which, at the time of
acquisition, are rated A-1 (or better) by Standard & Poor's Ratings Group or P-1
(or better) by Moody's Investors Service, Inc.; provided that the maturities of
such Cash Equivalents shall not exceed 365 days.

     "CHANGE OF CONTROL" shall mean any event, transaction or occurrence as a
result of which (a) any person or group of persons (within the meaning of the
Securities Exchange Act of 1934, as amended) shall have acquired beneficial
ownership (within the meaning of Rule 13d-3 promulgated by the Securities
Exchange Commission under the Securities Exchange Act of 1934, as amended) of
20% or more of the issued and outstanding shares of capital stock of the Parent
having the right to vote for the election of directors of the respective entity
under ordinary circumstances; (b) during any twelve (12) consecutive calendar
months ending after the Closing Date, individuals who at the beginning of such
twelve-month period constituted the board of directors of the Parent (together
with any new directors whose election by such board or whose nomination for
election by the shareholders of the Parent was approved by a vote of a majority
of the directors still in office who were either directors at the beginning of
such period or whose election or nomination for election was previously so
approved) shall cease for any reason to constitute a majority of the board of
directors of the Parent then in office; (c) the Parent shall cease to own and
control, directly or indirectly, all of the economic and voting rights
associated

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                                          Wabash National Corporation et al. and
                                                            WNC Receivables, LLC
                                                                         Annex X

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with all of the outstanding Equity Interests of the other Originators, of the
Independent Member or of the Seller; or (d) the Parent has sold, transferred,
conveyed, assigned or otherwise disposed of all or substantially all of the
assets of the Parent.

     "CLOSING DATE" shall mean April 12, 2002.

     "CODE" shall mean the Internal Revenue Code of 1986 and any regulations
promulgated thereunder.

     "COLLATERAL AGENT" shall mean Bank One, NA, in its capacity as collateral
agent for the Lenders and the Noteholders pursuant to the Intercreditor and
Collateral Agency Agreement, or any successor collateral agent appointed
pursuant to the terms thereof.

     "COLLATERAL DOCUMENTS" shall mean that certain security agreement dated as
of the Closing Date, executed by the Parent and each of Parent's Domestic
Subsidiaries (other than Seller and Independent Member) in existence on the
Closing Date in favor of the Collateral Agent for the benefit of the Secured
Parties (as such term is defined in the Intercreditor and Collateral Agency
Agreement), the pledge agreements from time to time executed by Parent or its
Domestic Subsidiaries in favor of the Collateral Agent for the benefit of the
Secured Parties, the mortgages and deeds of trust from time to time executed by
the Parent or any of the Domestic Subsidiaries, and all other security
agreements, pledges, powers of attorney, assignments, financing statements,
vehicle titles and all other instruments and documents delivered to the
Collateral Agent pursuant to the Credit Agreement, together with all agreements,
instruments and documents referred to therein or contemplated thereby.

     "COLLECTION ACCOUNT" shall mean Bankers Trust Company, New York, New York,
ABA No. 021001033, Account No. 50232854, Account Name: GECC/CAF Depository,
Reference: Wabash National CFC4337, established by the Agent pursuant to the
requirements set forth in Section 6.01(b) of the Purchase Agreement.

     "COLLECTIONS" shall mean, with respect to any Receivable, all cash
collections and other proceeds of such Receivable (including late charges, fees
and interest arising thereon, and all recoveries with respect thereto that have
been written off as uncollectible) BUT EXCLUDING, HOWEVER, such collections,
other proceeds and any purchase price paid to the Originators by the Buyer with
respect to and as consideration for the sale of the Transferred Receivables by
any of the Originators to the Buyer.

     "COMMITMENT" shall mean, with respect to each Purchaser, its commitment to
purchase its Pro Rata Share of the Purchaser Interest under the Purchase
Agreement in the amount set forth opposite its name on the signature pages of
the Purchase Agreement or any Assignment Agreement executed pursuant thereto.

     "COMMITMENT REDUCTION NOTICE" shall have the meaning assigned to it in
Section 2.02(a) of the Purchase Agreement.

                  "COMMITMENT TERMINATION NOTICE" shall have the meaning
assigned to it in Section 2.02(b) of the Purchase Agreement.

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                                          Wabash National Corporation et al. and
                                                            WNC Receivables, LLC
                                                                         Annex X

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     "CONCENTRATION DISCOUNT AMOUNT" shall mean, with respect to any Obligor,
and as of any date of determination after giving effect to all Eligible
Receivables to be transferred on such date, the amount by which the Outstanding
Balance of Eligible Receivables owing by such Obligor exceeds the product of (a)
the Outstanding Balance of all Eligible Receivables on such date, and (b) 10% or
such other percentage (a "SPECIAL CONCENTRATION LIMIT") for such Obligor
designated by the Agent in its reasonable credit judgment; provided that in the
case of an Obligor and any Affiliate of such Obligor, the Concentration Limit
shall be calculated as if such Obligor and such Affiliate are one Obligor; and
provided, further, that the Agent may, upon not less than five (5) Business
Days' notice to Seller, cancel any Special Concentration Limit, and provided,
further, that the Special Concentration Limit for the largest Obligor and its
Affiliates shall be limited to 22.5% of the Outstanding Balance of all Eligible
Receivables and the Special Concentration Limit for the second largest Obligor
and its Affiliates shall be limited to 15.0% of the Outstanding Balance of all
Eligible Receivables.

     "CONSOLIDATED EBITDA" shall mean, for any period, on a consolidated basis
for the Parent and its Subsidiaries, the sum of the amounts for such period,
without duplication of (i) Consolidated Operating Income, plus (ii) charges
against income for foreign taxes and U.S. income taxes to the extent deducted in
computing Consolidated Operating Income, plus (iii) Interest Expense to the
extent deducted in computing Consolidated Operating Income, plus (iv)
depreciation expense to the extent deducted in computing Consolidated Operating
Income, plus (v) amortization expense, including, without limitation,
amortization of goodwill and other intangible assets to the extent deducted in
computing Consolidated Operating Income, plus (vi) other non-cash charges (in an
aggregate amount not in excess of $15,000,000 during any fiscal year of the
Parent in accordance with Agreement Accounting Principles to the extent deducted
in computing Consolidated Operating Income, minus (x) the total interest income
of the Parent and its Subsidiaries to the extent included in computing
Consolidated Operating Income minus (y) the total tax benefit reported by the
Parent and its Subsidiaries to the extent included in computing Consolidated
Operating Income.

     "CONSOLIDATED EQUITY" shall mean as of the date of any determination
thereof, the total stockholders' equity of the Parent and its Subsidiaries on a
consolidated basis, all as determined in accordance with Agreement Accounting
Principles.

     "CONSOLIDATED OPERATING INCOME" shall mean, with reference to any period,
the net operating income (or loss) of the Parent and its Subsidiaries for such
period (taken as a cumulative whole on a consolidated basis) including without
limitation all restructuring expenses for such period (exclusive of "other
income/expenses" as reflected in the Parent's consolidated statement of income
of the Parent and its Subsidiaries for such period and related to non-operating
and non-recurring income and expenses), as determined in accordance with
Agreement Accounting Principles, after eliminating all offsetting debits and
credits between the Performance Guarantor and its Subsidiaries and all other
items required to be eliminated in the

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                                          Wabash National Corporation et al. and
                                                            WNC Receivables, LLC
                                                                         Annex X

<PAGE>

course of the preparation of consolidated financial statements of the
Performance Guarantor and its Subsidiaries in accordance with Agreement
Accounting Principles.

     "CONSOLIDATED TAX ADJUSTED EQUITY" shall mean, as of the date of any
termination thereof, Consolidated Equity plus the cumulative federal, state and
local income tax benefit reported by Parent in accordance Agreement Accounting
Principles.

     "CONTAMINANT" shall mean any waste, pollutant, hazardous substance, toxic
substance, hazardous waste, special waste, petroleum or petroleum-derived
substance or waste, asbestos, polychlorinated biphenyls ("PCBS"), or any
constituent of any such substance or waste, and includes but is not limited to
these terms as defined in Environmental Laws.

     "CONTINGENT OBLIGATION," as applied to any Person, shall mean any
obligation (except the endorsement in the ordinary course of business of
negotiable instruments for deposit or collection) of such Person guaranteeing or
in effect guaranteeing any Indebtedness, dividend or other obligation of any
other Person in any manner, whether directly or indirectly, including (without
limitation) obligations incurred through an agreement, contingent or otherwise,
by such Person:

          (a) to purchase such Indebtedness or obligation or any property
constituting security therefor;

          (b) to advance or supply funds (i) for the purchase or payment of such
Indebtedness or obligation, or (ii) to maintain any working capital or other
balance sheet condition or any income statement condition of any other Person or
otherwise to advance or make available funds for the purchase or payment of such
Indebtedness or obligation;

          (c) to lease properties or to purchase properties or services
primarily for the purpose of assuring the owner of such Indebtedness or
obligation of the ability of any other Person to make payment of the
Indebtedness or obligation; or

          (d) otherwise to assure the owner of such Indebtedness or obligation
against loss in respect thereof.

     In any computation of the Indebtedness or other liabilities of the Obligor
under any Contingent Obligation, the Indebtedness or other obligations that are
the subject of such Contingent Obligation shall be assumed to be direct
obligations of such Obligor.

     "CONTRACT" shall mean any agreement (including any invoice) pursuant to, or
under which, an Obligor shall be obligated to make payments with respect to any
Receivable.

     "CONTRIBUTED RECEIVABLES" shall have the meaning assigned to it in Section
2.01(d) of the Sale Agreement.

     "CONTROLLED GROUP" shall mean the group consisting of (i) any corporation
which is a member of the same controlled group of corporations (within the
meaning of

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                                          Wabash National Corporation et al. and
                                                            WNC Receivables, LLC
                                                                         Annex X

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Section 414(b) of the Code) as the Parent; (ii) a partnership or other trade or
business (whether or not incorporated) which is under common control (within the
meaning of Section 414(c) of the Code) with the Parent; and (iii) a member of
the same affiliated service group (within the meaning of Section 414(m) of the
Code) as the Parent, any corporation described in clause (i) above or any
partnership or trade or business described in clause (ii) above.

     "CREDIT AND COLLECTION POLICIES" shall mean the credit, collection,
customer relations and service policies of the Originators in effect on the
Closing Date, as the same may from time to time be amended, restated,
supplemented or otherwise modified with the written consent of the Agent.

     "CREDIT AGREEMENT" shall mean that certain Amended and Restated Credit
Agreement dated as of April 11, 2002, among the Parent, as borrower, the lenders
party thereto and the Credit Facility Agent.

     "CREDIT FACILITY" shall mean the Credit Agreement and the other loan
documents executed in connection therewith, together with such amendments,
restatements, supplements or modifications thereto or any refinancings,
replacements or refundings thereof as may be agreed to by the Purchaser and the
Agent.

     "CREDIT FACILITY AGENT" shall mean Bank One, Indiana, N.A. in its capacity
as administrative agent under the Credit Agreement, or its successor appointed
pursuant to the Credit Agreement.

     "CUSTOMARY PERMITTED LIENS" shall mean:

          (a) Liens (other than Environmental Liens and Liens in favor of the
IRS or the PBGC) with respect to the payment of taxes, assessments or
governmental charges in all cases which are not yet due or which are being
contested in good faith by appropriate proceedings and with respect to which
adequate reserves or other appropriate provisions are being maintained in
accordance with Agreement Accounting Principles;

          (b) statutory Liens of landlords and Liens of suppliers, mechanics,
carriers, materialmen, warehousemen or workmen and other similar Liens imposed
by law created in the ordinary course of business for amounts not yet due or
which are being contested in good faith by appropriate proceedings and with
respect to which adequate reserves or other appropriate provisions are being
maintained in accordance with Agreement Accounting Principles;

          (c) Liens (other than Environmental Liens and Liens in favor of the
IRS or the PBGC) incurred or deposits made in the ordinary course of business in
connection with worker's compensation, unemployment insurance or other types of
social security benefits or to secure the performance of bids, tenders, sales,
contracts (other than for the repayment of borrowed money), surety, appeal and
performance bonds; provided that (A) all such Liens do not in the aggregate
materially detract from the value of assets or property of the Parent and its
Subsidiaries taken as a whole or materially impair the use thereof in the
operation of their businesses taken as a whole,

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                                                            WNC Receivables, LLC
                                                                         Annex X

<PAGE>

and (B) all Liens securing bonds to stay judgments or in connection with appeals
that do not secure at any time an aggregate amount exceeding $5,000,000;

          (d) Liens arising with respect to zoning restrictions, easements,
licenses, reservations, covenants, rights-of-way, utility easements, building
restrictions and other similar charges or encumbrances on the use of real
property which do not interfere in any material respect with the ordinary
conduct of the business of the Parent or any of its Subsidiaries;

          (e) Liens of attachment or judgment with respect to judgments, writs
or warrants of attachment, or similar process against the Parent or any of its
Subsidiaries which do not constitute a Default (as such term is defined in the
Credit Agreement) under the Credit Agreement;

          (f) Liens arising from leases, subleases or licenses granted to others
which do not interfere in any material respect with the business of the Parent
or any of its Subsidiaries; and

          (g) any interest or title of the lessor in the property subject to any
operating lease entered into by the Parent or any of its Subsidiaries in the
ordinary course of business.

     "DAILY DEFAULT MARGIN" shall mean, for any day on which a Termination Event
has occurred and is continuing, two percent (2.0%) divided by 360.

     "DAILY INVESTMENT BASE CERTIFICATE" shall have the meaning assigned to it
in Section 2.03(a)(i) of the Purchase Agreement.

     "DAILY MARGIN" shall mean, for any day, the Per Annum Daily Margin on such
day divided by 360.

     "DAILY YIELD" shall mean, for any day, the aggregate of the following for
each portion of the Capital Investment: the product of (a) the portion of the
Capital Investment outstanding on such day at a given Daily Yield Rate,
multiplied by (b) the sum of (i) such Daily Yield Rate, plus (ii) the applicable
Daily Margin on such day for such Daily Yield Rate, plus (iii) if a Termination
Event has occurred and is continuing, the Daily Default Margin.

     "DAILY YIELD RATE" shall mean, for any day during a Settlement Period, (a)
the LIBOR Rate or Index Rate, as applicable, on such day, divided by (b) 360.

     "DEFAULTED RECEIVABLE" shall mean any Receivable (a) with respect to which
any payment, or part thereof, remains unpaid for more than 60 days from its
Maturity Date or 90 days from its invoice date, (b) with respect to which the
Obligor thereunder has taken any action, or suffered any event to occur, of the
type described in Sections 9.01(c) or 9.01(d) of the Purchase Agreement or (c)
that otherwise is determined to be uncollectible and is written off in
accordance with the Credit and Collection Policies.

     "DEPOSITARY" shall mean Banker's Trust Company, in its capacity as the
depositary for GECC.

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                                          Wabash National Corporation et al. and
                                                            WNC Receivables, LLC
                                                                         Annex X

<PAGE>

     "DILUTION FACTORS" shall mean, with respect to any Receivable, any credits,
rebates, freight charges, cash discounts, volume discounts, cooperative
advertising expenses, royalty payments, warranties, cost of parts required to be
maintained by agreement (whether express or implied), warehouse and other
allowances, disputes, setoffs, chargebacks, defective returns, other returned or
repossessed goods, inventory transfers, allowances for early payments and
trade-ins and other similar allowances that are reflected on the books of each
Originator and made or coordinated with the usual practices of the Originator
thereof; provided, that any allowances or adjustments in accordance with the
Credit and Collection Policies made on account of the insolvency of the Obligor
thereunder or such Obligor's inability to pay shall not constitute a Dilution
Factor.

     "DILUTION RATIO" shall mean, as of any date of determination, the ratio
(expressed as a percentage) of:

          (a) the sum of (i) the aggregate Dilution Factors during the twelve
consecutive Settlement Periods most recently ended on or prior to the date of
determination (exclusive of any Dilution Factors arising from trade-ins during
such twelve Settlement Periods), plus, without duplication (ii) the aggregate
warranty claims paid in cash or credit during such twelve Settlement Periods,

          to

          (b) the aggregate Billed Amount of all Transferred Receivables
originated during such twelve Settlement Periods net of the amount of any
trade-ins in cash or credit during such twelve Settlement Periods.

     "DILUTION RESERVE RATIO" shall mean, on any date of determination, the sum
of (a) the product of (i) two multiplied by (ii) the Dilution Ratio, plus (b)
5%.

     "DISQUALIFIED STOCK" shall mean any Equity Interest that, by its terms (or
by the terms of any security into which it is convertible or for which it is
exchangeable), or upon the happening of any event, matures or is mandatorily
redeemable, pursuant to a sinking fund obligation or otherwise, or redeemable at
the option of the holder thereof, in whole or in part, on or prior to the date
that is 91 days after the earlier of (a) March 30, 2004 and (b) the date of
termination of the Revolving Loan Commitments (as such term is defined in the
Credit Agreement).

     "DOL" shall mean the United States Department of Labor and any Person
succeeding to the functions thereof.

     "DOLLARS" or "$" shall mean lawful currency of the United States of
America.

     "DOMESTIC SUBSIDIARY" shall mean a Subsidiary organized under the laws of a
jurisdiction located in the United States of America.

                                       12

                                          Wabash National Corporation et al. and
                                                            WNC Receivables, LLC
                                                                         Annex X

<PAGE>

     "DYNAMIC PURCHASE DISCOUNT RATE" shall mean, as of any date of
determination, the rate equal to (a) 100% minus (b) the Dilution Reserve Ratio.

     "ELECTION NOTICE" shall have the meaning assigned to it in Section 2.01(d)
of the Sale Agreement.

     "ELIGIBLE RECEIVABLE" shall mean, as of any date of determination, a
Transferred Receivable:

          (a) that is not a liability of an Obligor (i) organized under the laws
of any jurisdiction outside of the United States of America and Canada
(including the District of Columbia but otherwise excluding its territories and
possessions), (ii) having its principal place of business outside of the United
States of America (including the District of Columbia but otherwise excluding
its territories and possessions), (iii) that is an Affiliate of the Seller or
the applicable Originator, (iv) that is a government or a governmental
subdivision or agency, or (v) that is a natural person;

          (b) that is only denominated and payable in Dollars in the United
States of America;

          (c) that is not and will not be subject to any right of rescission,
set-off (including, without limitation, set-offs against Receivables by reason
of any customer deposit, any guaranty of value of trade-ins or any Contingent
Obligation), recoupment, counterclaim, dispute or defense, whether arising out
of transactions concerning the Contract therefor or otherwise, that has not been
waived in writing in a manner satisfactory to the Agent or, in the case of
set-offs, by execution of a waiver of offset letter in the form of Schedule ER-C
to this Annex X to the Sale Agreement and the Purchase Agreement; PROVIDED,
HOWEVER, that if such right of rescission, set-off, recoupment, counterclaim,
dispute or defense affects only a portion of the Outstanding Balance of such
Receivable, then such Receivable may be deemed an Eligible Receivable to the
extent of the portion of such Outstanding Balance which is not so affected; and
PROVIDED FURTHER that if such right of set-off arises from the applicable
Originator's agreement to accept a trailer as a trade-in which has not yet been
delivered to such Originator, such right of set-off shall not render the
applicable Receivable ineligible at any time prior to May 12, 2002 so long as
the aggregate Outstanding Balance of all such Receivables does not exceed
$5,000,000;

          (d) that is not a Defaulted Receivable or an Unapproved Receivable;

          (e) which is not the liability of an Obligor as to which more than 50%
of the aggregate Outstanding Balance of all Receivables owing from such Obligor
are Defaulted Receivables;

          (f) that, does not represent "billed but not yet shipped," "bill and
hold" or "progress-billed" goods or merchandise, unperformed services, consigned
goods or "sale or return" goods and does not arise from a transaction for which
any additional performance by the Originator thereof, or acceptance by or other
act of the Obligor thereunder, remains to be

                                       13

                                          Wabash National Corporation et al. and
                                                            WNC Receivables, LLC
                                                                         Annex X

<PAGE>

performed as a condition to any payments on such Receivable; PROVIDED, HOWEVER,
for purposes of this clause, "billed but not yet shipped" and "bill and hold"
shall not include Transferred Receivables arising from the sale of goods where
the underlying Contract clearly states (in the opinion of the Agent) that title
thereto has passed to the Obligor so long as (i) such goods have not been on the
applicable Originator's premises more than 45 days after the Billing Date
therefor, and (ii) the aggregate Outstanding Balance of all such Transferred
Receivables which are included as Eligible Receivables does not exceed 3% of the
aggregate Outstanding Balance of all Transferred Receivables (it being
understood that only the amount in excess of such 3% shall be ineligible);

          (g) as to which the representations and warranties of Sections
4.01(x)(ii)-(iv) of the Sale Agreement are true and correct in all respects as
of the Transfer Date therefor and has been transferred to the Seller pursuant to
the Sale Agreement in a transaction constituting a true sale or other outright
conveyance and contribution;

          (h) that is not the liability of an Obligor that has any claim of a
material nature against or affecting the Originator thereof or the property of
such Originator;

          (i) that is a true and correct statement of a bona fide indebtedness
incurred in the amount of the Billed Amount of such Receivable for merchandise
or goods sold to or services rendered and accepted by the Obligor thereunder and
the Billing Date of which is not later than 10 days after merchandise or goods
are sold or service rendered;

          (j) that was originated by the Originator in the ordinary course of
business in accordance with and satisfies all applicable requirements of the
Credit and Collection Policies, except to the extent that the failure to satisfy
such requirements could not reasonably be expected to have a material adverse
effect on the collectibility or enforceability of such Receivable;

          (k) that represents the genuine, legal, valid and binding obligation
of the Obligor thereunder enforceable by the holder thereof in accordance with
its terms;

          (l) that is entitled to be paid pursuant to the terms of the Contract
therefor, has not been paid in full or been compromised, adjusted, extended,
satisfied, subordinated, rescinded or modified, and is not subject to
compromise, adjustment, extension, satisfaction, subordination, rescission, or
modification by the Originator thereof (except for adjustments to the
Outstanding Balance thereof to reflect Dilution Factors made in accordance with
the Credit and Collection Policy);

          (m) with respect to which the Originator thereof has submitted all
necessary documentation for payment to the Obligor thereunder and such
Originator has fulfilled all of its other obligations in respect thereof;

          (n) the stated term of which, if any, is not greater than 30 days
after its Billing Date unless the Obligor is Swift Transportation, Yellow
Freight System, Schneider National and Wick, in which case, the stated term of
which may be 45 days after its Billing Date;

                                       14

                                          Wabash National Corporation et al. and
                                                            WNC Receivables, LLC
                                                                         Annex X

<PAGE>

          (o) that was created in compliance with and otherwise does not
contravene any laws, rules or regulations applicable thereto (including laws,
rules and regulations relating to usury, consumer protection, truth in lending,
fair credit billing, fair credit reporting, equal credit opportunity, fair debt
collection practices and privacy) and with respect to which no party to the
Contract therefor is in violation of any such law, rule or regulation, in each
case except to the extent that such noncompliance or contravention could not
reasonably be expected to have a material adverse effect on the collectibility,
enforceability, value or payment terms of such Receivable;

          (p) with respect to which no proceedings or investigations are pending
or threatened before any Governmental Authority (i) asserting the invalidity of
such Receivable or the Contract therefor, (ii) asserting the bankruptcy or
insolvency of the Obligor thereunder, (iii) seeking payment of such Receivable
or payment and performance of such Contract or (iv) seeking any determination or
ruling that might materially and adversely affect the validity or enforceability
of such Receivable or such Contract;

          (q) with respect to which the Obligor thereunder is not: (i) bankrupt
or insolvent, (ii) unable to make payment of its obligations when due, (iii) a
debtor in a voluntary or involuntary bankruptcy proceeding, or (iv) the subject
of a comparable receivership or insolvency proceeding;

          (r) that is an "account" (and is not evidenced by a promissory note or
other instrument and does not constitute chattel paper) within the meaning of
the UCC of the jurisdictions in which each of the Originators, the Parent and
the Seller are organized;

          (s) that is payable solely and directly to an Originator and not to
any other Person (including any shipper of the merchandise or goods that gave
rise to such Receivable), except to the extent that payment thereof may be made
to the Collection Account or otherwise as directed pursuant to Article VI of the
Purchase Agreement;

          (t) with respect to which all material consents, licenses, approvals
or authorizations of, or registrations with, any Governmental Authority required
to be obtained, effected or given in connection with the creation of such
Receivable or the Contract therefor have been duly obtained, effected or given
and are in full force and effect;

          (u) that is created through the provision of merchandise, goods or
services by the Originator thereof in the ordinary course of its business in a
current transaction;

          (v) that complies with such other criteria and requirements as the
Agent may from time to time, in its reasonable credit judgment, specify to the
Seller or the Originator thereof upon not less than three Business Days' prior
written notice;

          (w) that is not the liability of an Obligor that is receiving or,
under the terms of the Credit and Collection Policies, should receive
merchandise, goods or services on a "cash on delivery" basis;

                                       15

                                          Wabash National Corporation et al. and
                                                            WNC Receivables, LLC
                                                                         Annex X

<PAGE>

          (x) that does not constitute a rebilled amount arising from a
deduction taken by an Obligor with respect to a previously arising Receivable or
the balance owed on a Receivable with respect to which one or more partial
payments have been made;

          (y) with respect to which no check, draft or other item of payment has
previously been received which was returned unpaid or otherwise dishonored;

          (z) no portion of which constitutes sales tax or excise tax or
commission; and

          (aa) that is not subject to any Lien, right, claim, security interest
or other interest of any other Person, other than Liens in favor of the
Purchaser.

          (bb) that is paid to a Retail Deposit Account which after May 15, 2002
is subject to a Lockbox Account Agreement.

     "ENVIRONMENTAL LAWS" shall mean all applicable federal, state, local and
foreign laws, statutes, ordinances, codes, rules, standards and regulations, now
or hereafter in effect, and in each case as amended or supplemented from time to
time, and any applicable judicial or administrative interpretation thereof,
including any applicable judicial or administrative order, consent decree, order
or judgment, imposing liability or standards of conduct for or relating to the
regulation and protection of human health, safety, the environment and natural
resources (including ambient air, surface water, groundwater, wetlands, land
surface or subsurface strata, wildlife, aquatic species and vegetation).
Environmental Laws include, without limitation, the Comprehensive Environmental
Response, Compensation, and Liability Act of 1980 (42 U.S.C.ss.ss.9601 et seq.);
the Hazardous Materials Transportation Authorization Act of 1994 (49
U.S.C.ss.ss.5101 et seq.); the Federal Insecticide, Fungicide, and Rodenticide
Act (7 U.S.C.ss.ss.136 et seq.); the Solid Waste Disposal Act (42
U.S.C.ss.ss.6901 et seq.); the Toxic Substance Control Act (15 U.S.C.ss.ss.2601
et seq.); the Clean Air Act (42 U.S.C.ss.ss.7401 et seq.); the Federal Water
Pollution Control Act (33 U.S.C.ss.ss.1251 et seq.); the Occupational Safety and
Health Act (29 U.S.C.ss.ss.651 et seq.); the Safe Drinking Water Act (42
U.S.C.ss.ss.300(f) et seq.); and the Resource Conservation and Recovery Act of
1976, 42 U.S.C.ss.ss. 6901 et seq., each as from time to time amended, and any
and all regulations promulgated thereunder, and all analogous state, local and
foreign counterparts or equivalents and any transfer of ownership notification
or approval statutes.

     "ENVIRONMENTAL LIEN" shall mean a lien in favor of any Governmental
Authority for (a) any liability under Environmental Law, or (b) damages arising
from, or costs incurred by such Governmental Authority in response to a release,
spill, emission, leaking, pumping, injection, deposit, disposal, discharge,
dispersal, leaching or migration into the indoor or outdoor environment,
including the movement of Contaminants through or in the air, soil, surface
water or groundwater (a "RELEASE") or threatened Release of a Contaminant into
the environment.

     "ENVIRONMENTAL PERMITS" shall mean all permits, licenses, authorizations,
certificates, approvals, registrations or other written documents required by
any Governmental Authority under any Environmental Laws.

                                       16

                                          Wabash National Corporation et al. and
                                                            WNC Receivables, LLC
                                                                         Annex X

<PAGE>

     "EQUIPMENT" shall mean all "equipment," as such term is defined in the
Uniform Commercial Code, as amended, now owned or hereafter acquired by any
member of the Parent Group, wherever located and, in any event, including all
such member's machinery and equipment, including processing equipment,
conveyors, machine tools, data processing and computer equipment, including
embedded software and peripheral equipment and all engineering, processing and
manufacturing equipment, office machinery, furniture, materials handling
equipment, tools, attachments, accessories, automotive equipment, trailers,
trucks, forklifts, molds, dies, stamps, motor vehicles, rolling stock and other
equipment of every kind and nature, trade fixtures and fixtures not forming a
part of real property, together with all additions and accessions thereto,
replacements therefor, all parts therefor, all substitutes for any of the
foregoing, fuel therefor, and all manuals, drawings, instructions, warranties
and rights with respect thereto, and all products and proceeds thereof and
condemnation awards and insurance proceeds with respect thereto.

     "EQUITY INTEREST" shall mean all shares, options, warrants, member
interests, general or limited partnership interests or other equivalents
(regardless of how designated) of or in a corporation, limited liability
company, partnership or equivalent entity whether voting or nonvoting, including
common stock, preferred stock or any other "equity security" (as such term is
defined in Rule 3a11-1 of the General Rules and Regulations promulgated by the
Securities and Exchange Commission under the Securities Exchange Act).

     "EQUITY HOLDERS" shall mean, with respect to any Person, each holder of
Equity Interests of such Person.

     "ERISA" shall mean the Employee Retirement Income Security Act of 1974 and
any regulations promulgated thereunder.

     "ERISA AFFILIATE" shall mean, with respect to any Originator, any trade or
business (whether or not incorporated) that, together with such Originator, are
treated as a single employer within the meaning of Sections 414(b), (c), (m) or
(o) of the Code.

     "ERISA EVENT" shall mean, with respect to any Originator or any ERISA
Affiliate, (a) any event described in Section 4043(c) of ERISA with respect to a
Title IV Plan; (b) the withdrawal of any Originator or ERISA Affiliate from a
Title IV Plan subject to Section 4063 of ERISA during a plan year in which it
was a "substantial employer," as defined in Section 4001(a)(2) of ERISA; (c) the
complete or partial withdrawal of any Originator or any ERISA Affiliate from any
Multiemployer Plan; (d) the filing of a notice of intent to terminate a Title IV
Plan or the treatment of a plan amendment as a termination under Section 4041 of
ERISA; (e) the institution of proceedings to terminate a Title IV Plan or
Multiemployer Plan by the PBGC; (f) the failure by any Originator or ERISA
Affiliate to make when due required contributions to a Multiemployer Plan or
Title IV Plan unless such failure is cured within 30 days; (g) any other event
or condition that might reasonably be expected to constitute grounds under
Section 4042 of ERISA for the termination of, or the appointment of a trustee to
administer, any Title IV Plan or Multiemployer Plan or for the imposition of
liability under Section 4069 or 4212(c) of ERISA; (h) the termination of a
Multiemployer Plan under Section

                                       17

                                          Wabash National Corporation et al. and
                                                            WNC Receivables, LLC
                                                                         Annex X

<PAGE>

4041A of ERISA or the reorganization or insolvency of a Multiemployer Plan under
Section 4241 of ERISA; (i) the loss of a Qualified Plan's qualification or tax
exempt status; or (j) the termination of a Plan described in Section 4064 of
ERISA.

     "ESOP" shall mean a Plan that is intended to satisfy the requirements of
Section 4975(e)(7) of the Code.

     "EVENT OF SERVICER TERMINATION" shall have the meaning assigned to it in
Section 9.02 of the Purchase Agreement.

     "EXTENDED TERM RESERVE" shall mean a reserve established, dollar for
dollar, against the amount by which (a) the aggregate Outstanding Balance of
Transferred Receivables having stated terms of 45 days after the Billing Date of
one or more of Swift Transportation, Yellow Freight System, Schneider National
and Wick as Obligors thereunder exceeds (b) 40% of the aggregate Outstanding
Balance of all Transferred Receivables.

     "FACILITY TERMINATION DATE" shall mean the earliest of (a) the date so
designated pursuant to Section 9.01 of the Purchase Agreement, (b) the Final
Purchase Date, and (c) the date of termination of the Maximum Purchase Limit
specified in a notice from Seller to the Purchaser delivered pursuant to and in
accordance with Section 2.02(b) of the Purchase Agreement.

     "FAIR LABOR STANDARDS ACT" shall mean the provisions of the Fair Labor
Standards Act, 29 U.S.C. ss.ss. 201 et seq.

     "FEDERAL FUNDS RATE" shall mean, for any day, a floating rate equal to the
weighted average of the rates on overnight federal funds transactions among
members of the Federal Reserve System, as determined by the Agent.

     "FEDERAL RESERVE BOARD" shall mean the Board of Governors of the Federal
Reserve System.

     "FEE LETTER" shall mean that certain letter agreement dated April 11, 2002,
among the Seller, the Agent and GECC.

     "FINAL PURCHASE DATE" shall mean April 15, 2004.

     "FINANCE CONTRACT" shall mean any chattel paper originated by the Parent or
any of its Subsidiaries pursuant to a bona fide sale in the ordinary course of
business with a customer of any Subsidiary.

     "FINANCIAL STATEMENTS" shall mean, consolidated and consolidating income
statements, statements of cash flows and balance sheets of the Parent delivered
in accordance with Section of the Sale Agreement and of the Seller delivered in
accordance with Section 5.02 of the Purchase Agreement.

                                       18

                                          Wabash National Corporation et al. and
                                                            WNC Receivables, LLC
                                                                         Annex X

<PAGE>

     "FLEET LEASE TRANSACTION" shall mean (i) the lease transaction among Wabash
Statutory Trust - 2000 as lessor and Apex Trailer Leasing & Rentals, L.P. as
lessee under that certain Amended and Restated Equipment Lease, dated as of
March 30, 2001, as amended, restated, supplemented or otherwise modified from
time to time and all other investments and documents related thereto and (ii)
the lease transaction among Fleet Capital Corporation (as successor to
BancBoston Leasing, Inc.) as lessor and Apex Trailer Leasing & Rentals, L.P. as
lessee under that certain Master Lease Agreement dated as of September 5, 1997,
as amended, restated, supplemented or otherwise modified from time to time and
all other instruments and documents related thereto.

     "FOREIGN SUBSIDIARY" shall mean a Subsidiary which is not a Domestic
Subsidiary.

     "FRUEHAUF PREFERRED STOCK" shall mean the Series A 6% Cumulative
Convertible Exchangeable Preferred Stock of the Parent.

     "FUNDED INDEBTEDNESS" shall mean, with respect to any Person, without
duplication, all Indebtedness for borrowed money evidenced by notes, bonds,
debentures, or similar evidences of Indebtedness and that by its terms matures
more than one year from, or is directly or indirectly renewable or extendible at
such Person's option under a revolving credit or similar agreement obligating
the lender or lenders to extend credit over a period of more than one year from
the date of creation thereof, and specifically including Capitalized Lease
Obligations, current maturities of long-term debt, revolving credit and
short-term debt extendible beyond one year at the option of the debtor.

     "GAAP" shall mean generally accepted accounting principles in the United
States of America as in effect on the Closing Date.

     "GECC" shall mean General Electric Capital Corporation, a Delaware
corporation, and its successors and assigns.

     "GENERAL TRIAL BALANCE" shall mean, with respect to any Originator and as
of any date of determination, such Originator's accounts receivable trial
balance (whether in the form of a computer printout, magnetic tape or diskette)
as of such date, listing Obligors and the Receivables owing by such Obligors as
of such date together with the aged Outstanding Balances of such Receivables, in
form and substance satisfactory to the Seller and the Purchasers.

     "GOVERNMENTAL AUTHORITY" shall mean any nation or government, any state or
other political subdivision thereof, and any agency, department or other entity
exercising executive, legislative, judicial, regulatory or administrative
functions of or pertaining to government.

     "GUARANTEED INDEBTEDNESS" shall mean, as to any Person, any obligation of
such Person guaranteeing any indebtedness, lease, dividend, or other obligation
("primary obligation") of any other Person (the "primary obligor") in any
manner, including any obligation or

                                       19

                                          Wabash National Corporation et al. and
                                                            WNC Receivables, LLC
                                                                         Annex X

<PAGE>

arrangement of such Person to (a) purchase or repurchase any such primary
obligation, (b) advance or supply funds (i) for the purchase or payment of any
such primary obligation or (ii) to maintain working capital or equity capital of
the primary obligor or otherwise to maintain the net worth or solvency or any
balance sheet condition of the primary obligor, (c) purchase property,
securities or services primarily for the purpose of assuring the owner of any
such primary obligation of the ability of the primary obligor to make payment of
such primary obligation, or (d) indemnify the owner of such primary obligation
against loss in respect thereof. The amount of any Guaranteed Indebtedness at
any time shall be deemed to be the amount equal to the lesser at such time of
(x) the stated or determinable amount of the primary obligation in respect of
which such Guaranteed Indebtedness is incurred and (y) the maximum amount for
which such Person may be liable pursuant to the terms of the instrument
embodying such Guaranteed Indebtedness; or, if not stated or determinable, the
maximum reasonably anticipated liability (assuming full performance) in respect
thereof.

     "GUARANTEED OBLIGATIONS" shall mean, collectively: (a) all covenants,
agreements, terms, conditions and indemnities to be performed and observed by
either or both of the Originators under and pursuant to the Sale Agreement and
each other document executed and delivered by either or both of them pursuant to
the Sale Agreement, including, without limitation, the due and punctual payment
of all sums which are or may become due and owing by either of the Originators
under the Sale Agreement, whether for fees, expenses (including counsel fees),
indemnified amounts or otherwise, whether upon any termination or for any other
reason and (b) all obligations of Wabash Financing, LLC, as Servicer under the
Purchase Agreement, or which arise pursuant to the Purchase Agreement as a
result of its termination as Servicer.

     "HEDGING OBLIGATIONS" of a Person shall mean any and all obligations of
such Person, whether absolute or contingent and howsoever and whensoever
created, arising, evidenced or acquired (including all renewals, extensions and
modifications thereof and substitutions therefor), under (i) any and all
agreements, devices or arrangements designed to protect at least one of the
parties thereto from the fluctuations of interest rates, commodity prices,
exchange rates or forward rates applicable to such party's assets, liabilities
or exchange transactions, including, but not limited to, dollar-denominated or
cross-currency interest rate exchange agreements, forward currency exchange
agreements, interest rate cap or collar protection agreements, forward rate
currency or interest rate options, puts and warrants, and (ii) any and all
cancellations, buy backs, reversals, terminations or assignments of any of the
foregoing.

     "INCIPIENT SERVICER TERMINATION EVENT" shall mean any event that, with the
passage of time or notice or both, would, unless cured or waived, become an
Event of Servicer Termination.

     "INCIPIENT TERMINATION EVENT" shall mean any event that, with the passage
of time or notice or both, would, unless cured or waived, become a Termination
Event.

     "INDEBTEDNESS" of any Person shall mean, without duplication,

                                       20

                                          Wabash National Corporation et al. and
                                                            WNC Receivables, LLC
                                                                         Annex X

<PAGE>

          (a) all indebtedness of such Person for borrowed money or for the
deferred purchase price of property or services payment for which is deferred 90
days or more, but excluding obligations to trade creditors incurred in the
ordinary course of business that are not overdue by more than 90 days unless
being contested in good faith,

          (b) all reimbursement and other obligations with respect to letters of
credit, bankers' acceptances and surety bonds, whether or not matured,

          (c) all indebtedness created or arising under any conditional sale or
other title retention agreement with respect to property acquired by such Person
(even though the rights and remedies of the seller or lender under such
agreement in the event of default are limited to repossession or sale of such
property),

          (d) all Capitalized Lease Obligations,

          (e) all indebtedness referred to in clauses (a) through (d) above
secured by (or for which the holder of such indebtedness has an existing right,
contingent or otherwise, to be secured by) any Lien upon or in property or other
assets (including accounts and contract rights) owned by such Person, even
though such Person has not assumed or become liable for the payment of such
indebtedness,

          (f) all Off-Balance Sheet Liabilities of such Person,

          (g) the aggregate Capital Investment, and

          (h) all Contingent Obligation of such Person with respect to
liabilities of a type described in any of clauses (a) through (g) hereof.

Indebtedness of any Person shall include all obligations of such Person of the
character described in clauses (a) through (h) to the extent such Person remains
legally liable in respect thereof notwithstanding that any such obligation is
deemed to be extinguished under Agreement Accounting Principles. In no event
shall Indebtedness include Unfunded Liabilities of any Plan of the Parent and
its Subsidiaries, which amount, as of December 31, 2001, was zero.

     "INDEMNIFIED AMOUNTS" shall mean, with respect to any Person, any and all
suits, actions, proceedings, claims, damages, losses, liabilities and expenses
(including attorneys' fees and disbursements and other costs of investigation or
defense, including those incurred upon any appeal).

     "INDEMNIFIED PERSON" shall have the meaning assigned to it in Section
12.01(a) of the Purchase Agreement.

     "INDEMNIFIED TAXES" shall have the meaning assigned to it in Section
2.08(b) of the Purchase Agreement.

                                       21

                                          Wabash National Corporation et al. and
                                                            WNC Receivables, LLC
                                                                         Annex X

<PAGE>

     "INDEPENDENT MEMBER" shall mean WNC Receivables Management Corp., a
Delaware corporation.

     "INDEX RATE" shall mean, for any day, a floating rate equal to the higher
of (i) the rate publicly quoted from time to time by The Wall Street Journal as
the "base rate on corporate loans at large U.S. money center commercial banks"
(or, if The Wall Street Journal ceases quoting a base rate of the type
described, the highest per annum rate of interest published by the Federal
Reserve Board in Federal Reserve statistical release H.15 (519) entitled
"Selected Interest Rates" as the Bank prime loan rate or its equivalent), and
(ii) the Federal Funds Rate plus fifty (50) basis points per annum. Each change
in any interest rate provided for in the Purchase Agreement based upon the Index
Rate shall take effect at the time of such change in the Index Rate.

     "INTENDED CHARACTERIZATION" shall mean, for income tax purposes, the
characterization of the acquisition by the Purchasers of Purchaser Interests
under the Purchase Agreement as a loan or loans by the Purchasers to the Seller
secured by the Receivables and the Collections.

     "INTERCREDITOR AND COLLATERAL AGENCY AGREEMENT" shall mean that certain
Intercreditor and Collateral Agency Agreement dated as of the Closing Date by
and among the Lenders, the Noteholders, the Collateral Agent and the Credit
Facility Agent.

     "INTERCREDITOR AGREEMENT" shall mean that certain Intercreditor Agreement
dated as of the Closing Date, among the Agent, the Collateral Agent, Originators
and Seller.

     "INVESTMENT" shall mean, with respect to any Person, (i) any purchase or
other acquisition by that Person of any Indebtedness, Equity Interest or other
securities, or of a beneficial interest in any Indebtedness, Equity Interest or
other securities, issued by any other Person, (ii) any purchase by that Person
of all or substantially all of the assets of a business conducted by another
Person, and (iii) any loan, advance (other than deposits with financial
institutions available for withdrawal on demand, prepaid expenses, accounts
receivable, advances to employees and similar items made or incurred in the
ordinary course of business) or capital contribution by that Person to any other
Person, including all Indebtedness to such Person arising from a sale of
property by such Person other than in the ordinary course of its business.

     "INVESTMENT BASE" shall mean, as of any date of determination, the amount
equal to the Outstanding Balance of Eligible Receivables minus the Reserves with
respect thereto, in each case as disclosed in the most recently submitted
Investment Base Certificate or as otherwise determined by the Purchaser or the
Agent based on Seller Collateral information available to any of them, including
any information obtained from any audit or from any other reports with respect
to the Seller Collateral, which determination shall be final, binding and
conclusive on all parties to the Purchase Agreement (absent manifest error).

     "INVESTMENT BASE CERTIFICATE" shall mean a Daily Investment Base
Certificate or a Weekly Investment Base Certificate, as the case may be.

                                       22

                                          Wabash National Corporation et al. and
                                                            WNC Receivables, LLC
                                                                         Annex X

<PAGE>

     "INVESTMENT COMPANY ACT" shall mean the provisions of the Investment
Company Act of 1940, 15 U.S.C.ss.ss. 80a et seq., and any regulations
promulgated thereunder.

     "INVESTMENT REPORTS" shall mean, collectively, the Investment Base
Certificates, the Monthly Reports and each of the reports with respect to the
Transferred Receivables and the Seller Collateral referred to in Annex 7.08 of
the Purchase Agreement.

     "IRS" shall mean the Internal Revenue Service.

     "LENDERS" shall mean the lenders from time to time party to the Credit
Agreement.

     "LIBOR BUSINESS DAY" shall mean a Business Day on which banks in the City
of London are generally open for interbank or foreign exchange transactions.

     "LIBOR PERIOD" shall mean, with respect to any LIBOR Tranche, each period
commencing on a LIBOR Business Day selected by Seller pursuant to the Purchase
Agreement and ending one, two or three months thereafter, as selected by
Seller's irrevocable notice to Agent as set forth in the Purchase Agreement;
provided that the foregoing provision relating to LIBOR Periods is subject to
the following:

          (a) if any LIBOR Period would otherwise end on a day that is not a
LIBOR Business Day, such LIBOR Period shall be extended to the next succeeding
LIBOR Business Day unless the result of such extension would be to carry such
LIBOR Period into another calendar month in which event such LIBOR Period shall
end on the immediately preceding LIBOR Business Day;

          (b) any LIBOR Period that would otherwise extend beyond the Facility
Termination Date shall end 2 LIBOR Business Days prior to such date;

          (c) any LIBOR Period that begins on the last LIBOR Business Day of a
calendar month (or on a day for which there is no numerically corresponding day
in the calendar month at the end of such LIBOR Period) shall end on the last
LIBOR Business Day of a calendar month;

          (d) Seller shall select LIBOR Periods so as not to require a payment
or prepayment of any LIBOR Tranche during a LIBOR Period for such LIBOR Tranche;
and

          (e) Seller shall select LIBOR Periods so that there shall be no more
 than 5 separate LIBOR Tranches in existence at any one time.

     "LIBOR RATE" shall mean for each LIBOR Period, a rate of interest
determined by the Agent equal to:

                                       23

                                          Wabash National Corporation et al. and
                                                            WNC Receivables, LLC
                                                                         Annex X

<PAGE>

          (a) the offered rate for deposits in United States Dollars for the
applicable LIBOR Period that appears on Telerate Page 3750 as of 11:00 a.m.
(London time), on the second full LIBOR Business Day next preceding the first
day of such LIBOR Period (unless such date is not a Business Day, in which event
the next succeeding Business Day will be used); divided by

          (b) a number equal to 1.0 minus the aggregate (but without
duplication) of the rates (expressed as a decimal fraction) of reserve
requirements in effect on the day that is 2 LIBOR Business Days prior to the
beginning of such LIBOR Period (including basic, supplemental, marginal and
emergency reserves under any regulations of the Federal Reserve Board or other
Governmental Authority having jurisdiction with respect thereto, as now and from
time to time in effect) for Eurocurrency funding (currently referred to as
"Eurocurrency Liabilities" in Regulation D of the Federal Reserve Board that are
required to be maintained by a member bank of the Federal Reserve System.

          If such interest rates shall cease to be available from Telerate News
Service, the LIBOR Rate shall be determined from such financial reporting
service or other information as shall be mutually acceptable to Agent and
Seller.

     "LIBOR TRANCHE" shall mean each portion of the Capital Investment (if any)
that is accruing Daily Yield at a LIBOR Rate for a LIBOR Period.

     "LIEN" shall mean any mortgage or deed of trust, pledge, hypothecation,
assignment, deposit arrangement, lien, charge, claim, security interest,
easement or encumbrance, or preference, priority or other security agreement or
preferential arrangement of any kind or nature whatsoever (including any lease
or title retention agreement, any financing lease having substantially the same
economic effect as any of the foregoing, and the filing of, or agreement to
give, any financing statement perfecting a security interest under the UCC or
comparable law of any jurisdiction).

     "LITIGATION" shall mean, with respect to any Person, any action, claim,
lawsuit, demand, investigation or proceeding pending or threatened against such
Person before any court, board, commission, agency or instrumentality of any
federal, state, local or foreign government or of any agency or subdivision
thereof or before any arbitrator or panel of arbitrators.

     "LOAN DOCUMENT" shall mean the Intercreditor and Collateral Agency
Agreement, the Note Agreements, the Senior Notes, the Credit Agreement, the
NatCity Lease and all notes, security agreements, guaranties, pledge agreements,
mortgages and related collateral documents executed pursuant to any of the
foregoing.

     "LOCKBOX" shall have the meaning assigned to it in Section 6.01(a)(ii) of
the Purchase Agreement.

     "LOCKBOX ACCOUNT" shall mean each lockbox account or blocked account
(including blocked accounts consisting of deposit accounts and concentration
accounts) listed on

                                       24

                                          Wabash National Corporation et al. and
                                                            WNC Receivables, LLC
                                                                         Annex X

<PAGE>

Scheule 4.01(r) to the Purchase Agreement as amended from time to time
established in the name of the Seller and held at a Lockbox Account Bank,
together with any other segregated deposit account established by the Seller for
the deposit of Collections pursuant to and in accordance with Section 6.01(a) of
the Purchase Agreement.

     "LOCKBOX ACCOUNT AGREEMENT" shall mean any agreement among one or both
Originators, the Seller, the Agent, and a Lockbox Account Bank with respect to a
Lockbox and/or Lockbox Account that provides, among other things, that (a) all
items of payment deposited in such Lockbox and Lockbox Account are held by such
Lockbox Account Bank as custodian for GECC, as Agent, (b) the Lockbox Account
Bank has no rights of setoff or recoupment or any other claim against such
Lockbox Account other than for payment of its service fees and other charges
directly related to the administration of such Account and for returned checks
or other items of payment and (c) such Lockbox Account Bank agrees to forward
all Collections received in such Lockbox Account to the Collection Account
within one Business Day of receipt of available funds, and is otherwise in form
and substance acceptable to the Agent.

     "LOCKBOX ACCOUNT BANK" shall mean any bank or other financial institution
at which one or more Lockbox Accounts are maintained.

     "MARGIN STOCK" shall have the meaning set forth in Regulation U promulgated
by the Board of Governors of the Federal Reserve System, as from time to time in
effect.

     "MATERIAL ADVERSE EFFECT" shall mean a material adverse effect on (a) the
business, assets, liabilities, operations, prospects or financial or other
condition of (i) any Originator or the Originators considered as a whole, (ii)
the Seller or (iii) the Servicer and its Subsidiaries considered as a whole, (b)
the ability of any Originator, the Seller or the Servicer to perform any of its
obligations under the Related Documents in accordance with the terms thereof,
(c) the validity or enforceability of any Related Document or the rights and
remedies of the Seller, the Purchaser or the Agent under any Related Document,
(d) the federal income tax attributes of the sale, contribution or pledge of the
Transferred Receivables pursuant to any Related Document or (e) the Transferred
Receivables, the Contracts therefor, the Originator Collateral, the Seller
Collateral or the ownership interests or Liens of the Seller or the Purchaser or
the Agent thereon or the priority of such interests or Liens.

     "MATURITY DATE" shall mean, with respect to any Receivable, the due date
for payment therefor specified in the Contract therefor, or, if no date is so
specified, 30 days from the Billing Date.

     "MAXIMUM PURCHASE LIMIT" shall mean (i) $110,000,000 as such amount may be
reduced in accordance with Section 2.02(a) of the Purchase Agreement, minus (ii)
Availability Block.

     "MONTHLY REPORT" shall mean a report in substantially the form of Exhibit
2.03(a)(iii) to the Purchase Agreement.

                                       25

                                          Wabash National Corporation et al. and
                                                            WNC Receivables, LLC
                                                                         Annex X

<PAGE>

     "MULTIEMPLOYER PLAN" shall mean a "multiemployer plan" as defined in
Section 4001(a)(3) of ERISA with respect to which any Originator or ERISA
Affiliate is making, is obligated to make, or has made or been obligated to
make, contributions on behalf of participants who are or were employed by any of
them.

     "NATCITY LEASE" shall mean that certain Master Equipment Lease Agreement
No. 07008, dated as of December 30, 1996, between Apex Trailer Leasing &
Rentals, L.P., a Delaware limited partnership (a successor to Wabash National
Finance Corporation, an Indiana corporation) and National City Leasing
Corporation.

     "NATCITY LEASE OBLIGATION" shall have the meaning assigned to it in the
Intercreditor and Collateral Agency Agreement.

     "NATIONAL CITY LEASE TRANSACTION" shall mean the lease transaction among
National City Leasing Corporation as lessor and Apex Trailer Leasing & Rentals,
L.P. (as successor to Wabash National Finance Corporation) as lessee under that
certain Master Equipment Lease Agreement No. 07008 as of December 30, 1996, as
amended, restated, supplemented or otherwise modified from time to time.

     "NET WORTH PERCENTAGE" shall mean a fraction (expressed as a percentage)
(a) the numerator of which equals the excess of assets over liabilities, in each
case determined in accordance with GAAP consistently applied and (b) the
denominator of which equals the Outstanding Balance of Transferred Receivables.

     "NOTE AGREEMENTS" shall mean, in the case of the holders of the Parent's
Series A Senior Notes, those certain separate and several Amended and Restated
Note Purchase Agreements, each dated as of the Closing Date, between the Parent
and such holders, in the case of the holders of the Parent's Series C through H
Senior Notes, those certain separate and several Amended and Restated Note
Purchase Agreement, dated as of the Closing Date, between the Parent and such
holders, and in the case of the holders of the Parent's Series I Senior Notes,
that certain Amended and Restated Note Purchase Agreement, dated as of the
Closing Date, between the Parent and such holders, in each case as amended from
time to time.

     "NOTEHOLDER" shall mean each holder of a Senior Note pursuant to a Note
Agreement, and its successors and assigns.

     "OBLIGATIONS" shall mean all loans, advances, debts, liabilities,
obligations, covenants and duties owing by the Parent to the Credit Facility
Agent, any Lender, any Affiliate of any of the foregoing or any Indemnitee (as
such term is defined in the Credit Agreement), of any kind or nature, present or
future, arising under the Credit Agreement, the Senior Notes, or any other Loan
Document, whether or not evidenced by any note, guaranty or other instrument,
whether or not for the payment of money, whether arising by reason of an
extension of credit, loan, guaranty, indemnification, or in any other manner,
whether direct or indirect (including those acquired by assignment), absolute or
contingent, due or to become due, now existing or hereafter arising and however
acquired. The term includes, without limitation, all interest,

                                       26

                                          Wabash National Corporation et al. and
                                                            WNC Receivables, LLC
                                                                         Annex X

<PAGE>

charges, expenses, fees, attorneys' fees and disbursements, paralegals' fees (in
each case whether or not allowed), and any other sum chargeable to the Parent
under the Credit Agreement or any other Loan Document.

     "OBLIGOR" shall mean, with respect to any Receivable, the Person primarily
obligated to make payments in respect thereof.

     "OFF-BALANCE SHEET LIABILITIES" of a Person shall mean (a) any repurchase
obligation or liability of such Person or any of its Subsidiaries with respect
to accounts or notes receivable sold by such Person or any of its Subsidiaries,
(b) any liability of such Person or any of its Subsidiaries under any sale and
leaseback transactions which do not create a liability on the consolidated
balance sheet of such Person, (c) any liability of such person or any of its
Subsidiaries under any so-called "synthetic" lease transaction, or (d) any
obligation arising with respect to any other transaction which is the functional
equivalent of or takes the place of borrowing but which does not constitute a
liability on the consolidated balance sheets of such Person and its
Subsidiaries.

     "OFFICER'S CERTIFICATE" shall mean, with respect to any Person, a
certificate signed by an Authorized Officer of such Person.

     "ORGANIC DOCUMENT" shall mean, relative to any Person, its certificate of
incorporation, its by-laws, its partnership agreement, its memorandum and
articles of association, its certificate of formation or articles of
organization and limited liability company agreement and/or operating agreement,
share designations or similar organization documents and all shareholder
agreements, voting trusts and similar arrangements applicable to any of its
authorized Equity Interest.

     "ORIGINATOR" shall mean each of NOAMTC, Inc., a Delaware corporation, and
Wabash National, L.P., a Delaware limited partnership, and its successors.

     "ORIGINATOR COLLATERAL" shall have the meaning assigned to it in Section
7.01 of the Sale Agreement.

     "OUTSTANDING BALANCE" shall mean, with respect to any Receivable and as of
any date of determination, the amount (which amount shall not be less than zero)
equal to (a) the Billed Amount thereof, minus (b) all Collections received from
the Obligor thereunder, minus (c) all discounts to or any other modifications
that reduce such Billed Amount; provided, that if the Agent or the Servicer
makes a determination that all payments by such Obligor with respect to such
Billed Amount have been made, the Outstanding Balance shall be zero.

     "PARENT" shall mean Wabash National Corporation, a Delaware corporation.

     "PARENT GROUP" shall mean the Parent and each of its Affiliates (other than
the Seller).

                                       27

                                          Wabash National Corporation et al. and
                                                            WNC Receivables, LLC
                                                                         Annex X

<PAGE>

     "PBGC" shall mean the Pension Benefit Guaranty Corporation.

     "PENSION PLAN" shall mean a Plan described in Section 3(2) of ERISA.

     "PER ANNUM DAILY MARGIN" shall mean:

          (a) at all times prior to the date on which the Parent files its 10-K
for the year ended December 31, 2002:

               (i)  with respect to Capital Investment (A) at the LIBOR Rate,
                    3.50%, and (B) at the Index Rate, 2.00%, and

               (ii) with respect to Unused Facility Fees. 0.50%; and

          (b) at all times from and after the date on which the Parent files its
10-K for the year ended December 31, 2002, the applicable per annum percentage
set forth opposite the then applicable range of the Aggregate Interest Coverage
Ratio:

<TABLE>
<CAPTION>
--------------------------------------------------------------------------------
                                         PER ANNUM DAILY MARGIN
                         -------------------------------------------------------
  AGGREGATE INTEREST      INVESTMENT AT        INVESTMENT AT           UNUSED
    COVERAGE RATIO       THE LIBOR RATE       THE INDEX RATE       FACILITY FEE
--------------------------------------------------------------------------------
<S>                           <C>                  <C>                <C>
> 2.0 : 1.0                   3.25%                1.75%              0.375%
--------------------------------------------------------------------------------
< OR = 2.0 : 1.0 BUT
> 1.5 : 1.0                   3.50%                2.00%              0.50%
--------------------------------------------------------------------------------
< OR = 1.5 : 1.0              3.75%                2.25%              0.625%
--------------------------------------------------------------------------------
</TABLE>

     "PERFORMANCE GUARANTOR" shall mean the Parent in its capacity as guarantor
under the Performance Undertaking.

     "PERFORMANCE UNDERTAKING" shall mean the provisions of Article VIII of the
Sale Agreement.

     "PERMITTED ACQUISITION" shall mean any Acquisition made by the Parent or
any of its Subsidiaries provided that: (a) as of the date of such Acquisition,
no Default (as defined in the Credit Agreement) or Unmatured Default shall have
occurred and be continuing or would result from such Acquisition or from the
incurrence of any Indebtedness in connection with such Acquisition; (b) prior to
the date of such Acquisition, such Acquisition shall have been approved

                                       28

                                          Wabash National Corporation et al. and
                                                            WNC Receivables, LLC
                                                                         Annex X

<PAGE>

by the board of directors and, if applicable, the shareholders of the Person
whose stock or assets are being acquired in connection with such Acquisition and
no claim or challenge has been asserted or threatened by any shareholder or
director of such Person which could reasonably be expected to have a material
adverse effect on such Acquisition or a Material Adverse Effect (as defined in
the Credit Agreement); (c) as of the date of any such Acquisition, all approvals
required in connection with such Acquisition shall have been obtained; (d) the
Acquisition Purchase Price paid or payable to the Parent and its Subsidiaries
for all Permitted Acquisitions during any fiscal year of the Parent shall not
exceed $2,500,000. Anything in the foregoing to the contrary, in no event shall
Permitted Acquisition include any Acquisition by Seller or by Independent
Member.

     "PERMITTED EXISTING CONTINGENT OBLIGATIONS" shall have the meaning assigned
to it in Schedule 2 of this Annex X to the Sale Agreement and the Purchase
Agreement.

     "PERMITTED EXISTING INDEBTEDNESS" shall have the meaning assigned to it in
Schedule 2 of this Annex X to the Sale Agreement and the Purchase Agreement.

     "PERMITTED EXISTING INVESTMENTS" shall have the meaning assigned to it in
Schedule 2 of this Annex X to the Sale Agreement and the Purchase Agreement.

     "PERMITTED EXISTING LIENS" shall have the meaning assigned to it in
Schedule 2 of this Annex X to the Sale Agreement and the Purchase Agreement.

     "PERMITTED INVESTMENTS" shall mean any of the following:

          (a) obligations of, or guaranteed as to the full and timely payment of
principal and interest by, the federal government of the United States or
obligations of any agency or instrumentality thereof if such obligations are
backed by the full faith and credit of the federal government of the United
States, in each case with maturities of not more than 90 days from the date
acquired;

          (b) repurchase agreements on obligations of the type specified in
clause (a) of this definition;

          (c) federal funds, certificates of deposit, time deposits and bankers'
acceptances of any depository institution or trust company incorporated under
the federal laws of the United States or any state, in each case with original
maturities of not more than 90 days or, in the case of bankers' acceptances,
original maturities of not more than 365 days;

          (d) commercial paper of any corporation incorporated under the laws of
the United States of America or any state thereof with original maturities of
not more than 30 days;

          (e) securities of money market funds.

     "PERMITTED ORIGINATOR ENCUMBRANCES" shall mean the following encumbrances:
(a) Liens for taxes or assessments or other governmental charges not yet due and

                                       29

                                          Wabash National Corporation et al. and
                                                            WNC Receivables, LLC
                                                                         Annex X

<PAGE>

payable (other than with respect to environmental matters); (b) pledges or
deposits securing obligations under workmen's compensation, unemployment
insurance, social security or public liability laws or similar legislation
(excluding Liens under ERISA); (c) pledges or deposits securing bids, tenders,
contracts (other than contracts for the payment of money) or leases to which any
Originator, the Seller or the Servicer is a party as lessee made in the ordinary
course of business; (d) deposits securing statutory obligations of any
Originator, the Seller or the Servicer; (e) inchoate and unperfected workers',
mechanics', suppliers' or similar Liens arising in the ordinary course of
business; (f) carriers', warehousemen's or other similar possessory Liens
arising in the ordinary course of business and securing liabilities in an
outstanding aggregate amount not in excess of $500,000 at any one time; (g)
deposits securing, or in lieu of, surety, appeal or customs bonds in proceedings
to which any Originator, the Seller or the Servicer is a party; (h) any
attachment or judgment Lien not constituting a Termination Event under Section
9.01(f) of the Purchase Agreement; (i) Liens existing on the Closing Date and
listed on Schedule 4.04(b) of the Sale Agreement; (j) Liens expressly permitted
under Section 4.04(b) of the Sale Agreement (except that such Liens shall not be
deemed "Permitted Originator Encumbrances" until such Liens have satisfied the
criteria set forth in such section), (l) Liens securing Indebtedness which is
incurred to extend, refinance, renew, replace, defease or refund Indebtedness
which has been secured by a Lien permitted under the Sale Agreement and is
permitted to be extended, refinanced, renewed, replaced, defeased or refunded
under the Sale Agreement but only to the extent that such Lien is limited to the
same collateral as that covered by the prior Lien, (m) Liens securing the
obligations arising under the Credit Facility and Senior Notes so long as such
Liens do not encumber Originator Collateral or Seller Collateral, and (n)
presently existing or hereinafter created Liens in favor of the Buyer, the
Seller, the Purchaser or the Agent.

     "PERMITTED SELLER ENCUMBRANCES" shall mean the following encumbrances: (a)
Liens for taxes or assessments or other governmental charges not yet due and
payable (other than with respect to environmental matters); (b) deposits
securing statutory obligations of the Seller; and (c) presently existing or
hereinafter created Liens in favor of the Purchaser or the Agent.

     "PERMITTED INDEPENDENT MEMBER ENCUMBRANCES" shall mean the following
encumbrances: (a) Liens for taxes or assessments or other governmental charges
not yet due and payable (other than with respect to environmental matters); (b)
deposits securing statutory obligations of the Independent Member; and (c)
presently existing or hereinafter created Liens in favor of the Collateral Agent
on the Independent Member's Equity Interest in the Seller.

     "PERSON" shall mean any individual, sole proprietorship, partnership, joint
venture, unincorporated organization, trust, association, corporation (including
a business trust), limited liability company, institution, public benefit
corporation, joint stock company, Governmental Authority or any other entity of
whatever nature.

     "PIK NOTES" shall mean those certain promissory notes of the Parent payable
to the order of each Lender evidencing the aggregate deferral fees payable by
the Parent to such Lender.

                                       30

                                          Wabash National Corporation et al. and
                                                            WNC Receivables, LLC
                                                                         Annex X

<PAGE>

     "PLAN" shall mean, at any time, an "employee benefit plan," as defined in
Section 3(3) of ERISA, that any Originator or ERISA Affiliate maintains,
contributes to or has an obligation to contribute to on behalf of participants
who are or were employed by any Originator or ERISA Affiliate.

     "PROJECTIONS" shall mean Parent Group's forecasted consolidated and
consolidating: (a) balance sheets; (b) income statements; (c) cash flow
statements; and (d) capitalization statements, all prepared on a
Subsidiary-by-Subsidiary or division-by-division basis, if applicable, and
otherwise consistent with the historical Financial Statements of Parent,
together with appropriate supporting details and a statement of underlying
assumptions.

     "PROPERTY" of a Person shall mean any and all property, whether real,
personal, tangible, intangible, or mixed, of such Person, or other assets owned,
leased or operated by such Person.

     "PRO RATA SHARE" shall mean, with respect to each Purchaser, the ratio
which its Commitment bears to the aggregate of all Purchaser's Commitments (or,
if no Commitments are outstanding, the ratio which its Capital Investment bears
to the aggregate Capital Investment).

     "PURCHASE" shall have the meaning assigned to it in Section 2.01 of the
Purchase Agreement.

     "PURCHASE AGREEMENT" shall mean that certain Receivables Purchase and
Servicing Agreement dated as of April 11, 2002, among the Seller, the
Independent Member, the Purchasers, the Servicer and the Agent.

     "PURCHASE ASSIGNMENT" shall mean that certain Purchase Assignment dated as
of the Closing Date by and between the Seller and the Applicable Purchaser in
the form attached as Exhibit 2.04(a) to the Purchase Agreement.

     "PURCHASE DATE" shall mean each day on which a Purchase is made.

     "PURCHASE DISCOUNT RATE" shall mean, as of any date of determination, a
rate equal to the lesser of (a) the Dynamic Purchase Discount Rate and (b) the
Purchase Discount Rate Cap.

     "PURCHASE DISCOUNT RATE CAP" shall mean a rate equal to eighty-five percent
(85%); provided that the Purchase Discount Rate Cap may be changed at any time
as determined by the Agent in its reasonable credit judgment exercised in good
faith.

     "PURCHASE EXCESS" shall mean, as of any date of determination, the extent
to which the Capital Investment exceeds the Availability, in each case as
disclosed in the most recently submitted Investment Base Certificate or as
otherwise determined by the Purchaser or the Agent based on Seller Collateral
information available to any of them, including any information obtained from
any audit or from any other reports with respect to the Seller

                                       31

                                          Wabash National Corporation et al. and
                                                            WNC Receivables, LLC
                                                                         Annex X

<PAGE>

Collateral, which determination shall be final, binding and conclusive on all
parties to the Purchase Agreement (absent manifest error).

     "PURCHASE REQUEST" shall have the meaning assigned to it in Section 2.03(b)
of the Purchase Agreement.

     "PURCHASER" shall mean GECC, its successors and assigns.

     "PURCHASER INTEREST" shall mean a 100% ownership interest of the Purchaser
in the Transferred Receivables which are purchased under the Purchase Agreement.

     "QUALIFIED PLAN" shall mean a Pension Plan that is intended to be
tax-qualified under Section 401(a) of the Code.

     "RATIOS" shall mean, collectively, the Dilution Ratio and the Dilution
Reserve Ratio.

     "RECEIVABLE" shall mean, with respect to any Obligor:

          (a) indebtedness of such Obligor (whether constituting an account,
general intangible or otherwise) arising from the sale of merchandise, goods or
services by an Originator to such Obligor, including the right to payment of any
interest or finance charges and other obligations of such Obligor with respect
thereto, but specifically excluding any chattel paper arising from the lease of
any such merchandise or goods or the financing of the purchase price of, any
such merchandise, goods or services;

          (b) all Liens and property subject thereto from time to time securing
or purporting to secure any such indebtedness of such Obligor (including,
without limitation, all Returned Goods);

          (c) all guaranties, indemnities and warranties, insurance policies,
financing statements and other agreements or arrangements of whatever character
from time to time supporting or securing payment of any such indebtedness;

          (d) all Collections with respect to any of the foregoing;

          (e) all Records with respect to any of the foregoing; and

          (f) all proceeds with respect to the foregoing.

     "RECORDS" shall mean all Contracts and other documents, books, records and
other information (including computer programs, tapes, disks, data processing
software and related property and rights) prepared and maintained by any
Originator, the Servicer, any Sub-Servicer or the Seller with respect to the
Receivables and the Obligors thereunder, the Originator Collateral and the
Seller Collateral.

                                       32

                                          Wabash National Corporation et al. and
                                                            WNC Receivables, LLC
                                                                         Annex X

<PAGE>

     "REGULATORY CHANGE" shall mean any change after the Closing Date in any
federal, state or foreign law or regulation (including Regulation D of the
Federal Reserve Board) or the adoption or making after such date of any
interpretation, directive or request under any federal, state or foreign law or
regulation (whether or not having the force of law) by any Governmental
Authority charged with the interpretation or administration thereof that, in
each case, is applicable to any Affected Party.

     "REJECTED AMOUNT" shall have the meaning assigned to it in Section 4.05 of
the Sale Agreement.

     "RELATED DOCUMENTS" shall mean each Lockbox Account Agreement, the Fee
Letter, the Intercreditor Agreement, the Sale Agreement (including, without
limitation, the Performance Undertaking contained therein), the Purchase
Agreement, the Purchase Assignment and all other agreements, instruments,
documents and certificates identified in the Schedule of Documents and including
all other pledges, powers of attorney, consents, assignments, contracts,
notices, and all other written matter whether heretofore, now or hereafter
executed by or on behalf of any Person, or any employee of any Person, and
delivered in connection with either Sale Agreement, the Purchase Agreement or
the transactions contemplated thereby. Any reference in either Sale Agreement,
the Purchase Agreement or any other Related Document to a Related Document shall
include all Appendices thereto, and all amendments, restatements, supplements or
other modifications thereto, and shall refer to such Related Document as the
same may be in effect at any and all times such reference becomes operative.

     "REPAYMENT NOTICE" shall have the meaning assigned to it in Section 2.03(c)
of the Purchase Agreement.

     "RELATED NOTES" shall mean the PIK Notes under and as defined in the Note
Agreements.

     "REQUIRED PURCHASERS" shall mean those Purchasers whose Commitments
represent at least 66-2/3% of the aggregate of all Commitments (or if no
Commitments are outstanding, those Purchasers whose Invested Capital represents
66-2/3% of the aggregate Invested Capital of all Purchasers).

     "RESERVES" shall mean the sum of (a) the aggregate Concentration Discount
Amount for all Obligors of Transferred Receivables plus (b) the Extended Term
Reserve plus (c) in the event Agent does not receive one or more of landlord
waivers as required in accordance with Section 5.06(b) of the Purchase
Agreement, Agent shall establish reserves in such amounts as Agent shall
determine in its sole discretion until such landlord waivers are received, and
plus (d) such other reserves as the Agent may establish from time to time in its
reasonable credit judgment.

     "RETAIL DEPOSIT ACCOUNTS" shall mean each of the following deposit
accounts:

                                       33

                                          Wabash National Corporation et al. and
                                                            WNC Receivables, LLC
                                                                         Annex X

<PAGE>

<TABLE>
<CAPTION>
                   Bank Name                             Account Number
                   ---------                             --------------
          <S>      <C>                                   <C>
          (a)      Bank of America                       144614518
          (b)      South Trust Bank                      66-965-992
          (c)      Bank of America                       686765264
          (d)      Merchants & Manufacturers             2300064637
          (e)      National City Bank                    825827133
          (f)      Chase Bank of Texas                   07000915041
          (g)      Wells Fargo Bank                      1018170833
          (h)      Bankers Trust                         05 791 6
          (i)      Standard Federal Bank                 6840 84772 4
          (j)      Bank of America                       4772196882
          (k)      Fifth Third Bank                      7690052811
          (l)      Bank of America                       24589-14502
          (m)      Chase Bank of Texas                   31500921734
          (n)      Heritage Bank                         59700572310
          (o)      Bank of America                       2458914502
          (p)      Union Planters Bank                   0020140967
          (q)      Bank of America                       1596480625
          (r)      Suntrust Bank                         7020482449
          (s)      Bank One                              21420864
          (t)      National City Bank                    239898027
          (u)      Wells Fargo Bank                      4419-701024
          (v)      Salem Bank and Trust                  1847940212
</TABLE>

                                       34

                                          Wabash National Corporation et al. and
                                                            WNC Receivables, LLC
                                                                         Annex X

<PAGE>

<TABLE>
<CAPTION>
                   Bank Name                             Account Number
                   ---------                             --------------
          <S>      <C>                                   <C>
          (w)      Wells Fargo Bank                      0439 814161
          (x)      South Trust Bank                      84-006-542
          (y)      South Trust Bank                      84-006-542
          (z)      Fidelity Deposit and Security Co.     11454730-14
          (aa)     Wells Fargo Bank                      0224 635649
          (bb)     AMSouth Bank                          6100052456
          (cc)     Wells Fargo Bank                      0419-456553
          (dd)     Bank of America                       3750965405
          (ee)     Wells Fargo Bank                      3884015676
          (ff)     Bank of America                       3750965395
</TABLE>

     "RESTRICTED PAYMENT" shall mean, with respect to any member of the Parent
Group (a) the declaration or payment of any dividend or the incurrence of any
liability to make any other payment or distribution of cash or other property or
assets in respect of Equity Interests; (b) any payment on account of the
purchase, redemption, defeasance, sinking fund or other retirement of such
member's Equity Interests or any other payment or distribution made in respect
thereof, either directly or indirectly; (c) any payment made to redeem,
purchase, repurchase or retire, or to obtain the surrender of, any outstanding
warrants, options or other rights to acquire Equity Interests of such member now
or hereafter outstanding; (e) any payment of a claim for the rescission of the
purchase or sale of, or for material damages arising from the purchase or sale
of, any shares of such member's Equity Interests or of a claim for
reimbursement, indemnification or contribution arising out of or related to any
such claim for damages or rescission; (f) any payment, loan, contribution, or
other transfer of funds or other property to any Equity Holder of such member
other than payment of compensation in the ordinary course of business to Equity
Holders who are employees of such member; and (g) any payment of management fees
(or other fees of a similar nature) by such member to any Equity Holder of such
member or its Affiliates.

     "RETIREE WELFARE PLAN" shall mean, at any time, a Welfare Plan that
provides for continuing coverage or benefits for any participant or any
beneficiary of a participant after such participant's termination of employment,
other than continuation coverage provided pursuant to Section 4980B of the Code
and at the sole expense of the participant or the beneficiary of the
participant.

                                       35

                                          Wabash National Corporation et al. and
                                                            WNC Receivables, LLC
                                                                         Annex X

<PAGE>

     "RETURNED GOODS" shall mean all right, title and interest of the
Originators, the Buyer, the Seller, the Purchasers and/or the Agent, as
applicable, in and to returned, repossessed, reclaimed, traded-in or foreclosed
upon trailers, goods and/or merchandise, the sale of which gave rise to a
Transferred Receivable.

     "REVOLVING PERIOD" shall mean the period from and including the Closing
Date through and including the day immediately preceding the Facility
Termination Date.

     "SALE" shall mean with respect to a sale of Receivables under the Sale
Agreement, a sale of Receivables by the Originator to the Seller in accordance
with the terms of the Sale Agreement.

     "SALE AGREEMENT" shall mean that certain Receivables Sale and Contribution
Agreement dated as of April 11, 2002, among the Originators, as sellers, the
Performance Guarantor, and the Seller, as buyer thereunder.

     "SALE PRICE" shall mean, with respect to any Sale of Sold Receivables, the
price calculated by the Seller and approved from time to time by the Agent equal
to:

          (a) the Outstanding Balance of such Sold Receivable, minus

          (b) the expected costs to be incurred by the Seller in financing the
purchase of such Sold Receivables until the Outstanding Balance of such Sold
Receivables is paid in full, minus

          (c) the portion of such Sold Receivables that are reasonably expected
by such Originator to become Defaulted Receivables, minus

          (d) the portion of such Sold Receivables that are reasonably expected
by such Originator to be reduced by means other than the receipt of Collections
thereon or pursuant to clause (c) above, minus

          (e) amounts expected to be paid to the Servicer with respect to the
servicing, administration and collection of such Sold Receivables;

provided, that such calculations shall be determined based on the historical
experience of (y) such Originator, with respect to the calculations required in
each of clauses (c) and (d) above, and (z) the Seller, with respect to the
calculations required in clauses (b) and (e) above.

     "SCHEDULE OF DOCUMENTS" shall mean the schedule, including all appendices,
exhibits or schedules thereto, listing certain documents and information to be
delivered in connection with the Sale Agreement, the Purchase Agreement and the
other Related Documents and the transactions contemplated thereunder,
substantially in the form attached as Annex Y to the Purchase Agreement and the
Sale Agreement.

                                       36

                                          Wabash National Corporation et al. and
                                                            WNC Receivables, LLC
                                                                         Annex X

<PAGE>

     "SECURED OBLIGATIONS" shall have the meaning assigned to it in the
Intercreditor and Collateral Agency Agreement.

     "SECURED PARTIES" shall have the meaning assigned to it in the
Intercreditor and Collateral Agency Agreement.

     "SECURITIES ACT" shall mean the provisions of the Securities Act of 1933,
15 U.S.C. Sections 77a et seq., and any regulations promulgated thereunder.

     "SECURITIES EXCHANGE ACT" shall mean the provisions of the Securities
Exchange Act of 1934, 15 U.S.C. Sections 78a et seq., and any regulations
promulgated thereunder.

     "SELLER" shall mean WNC Receivables, LLC, a Delaware limited liability
company, in its capacity as seller under the Purchase Agreement.

     "SELLER ACCOUNT" shall mean a deposit account maintained in the name of the
Seller at a commercial bank in the United States of America, as designated by
the Seller from time to time.

     "SELLER ACCOUNT COLLATERAL" shall have the meaning assigned to it in
Section 8.01(c) of the Purchase Agreement.

     "SELLER ASSIGNED AGREEMENTS" shall have the meaning assigned to it in
Section 8.01(b) of the Purchase Agreement.

     "SELLER COLLATERAL" shall have the meaning assigned to it in Section 8.01
of the Purchase Agreement.

     "SELLER PARTIES" shall have the meaning assigned to it in the recitals of
the Purchase Agreement.

     "SELLER SECURED OBLIGATIONS" shall mean all loans, advances, debts,
liabilities, indemnities and obligations for the performance of covenants, tasks
or duties or for payment of monetary amounts (whether or not such performance is
then required or contingent, or such amounts are liquidated or determinable)
owing by the Seller to any Affected Party under the Purchase Agreement and any
document or instrument delivered pursuant thereto, and all amendments,
extensions or renewals thereof, and all covenants and duties regarding such
amounts, of any kind or nature, present or future, whether or not evidenced by
any note, agreement or other instrument, arising thereunder, including Capital
Investment, Daily Yield, Unused Facility Fees, amounts in reduction of Purchase
Excess, Successor Servicing Fees and Expenses, Additional Amounts and
Indemnified Amounts. This term includes all principal, interest (including all
interest that accrues after the commencement of any case or proceeding by or
against the Seller in bankruptcy, whether or not allowed in such case or
proceeding), fees, charges, expenses, attorneys' fees and any other sum
chargeable to the Seller thereunder, whether now existing or hereafter arising,
voluntary or involuntary, whether or not jointly owed

                                       37

                                          Wabash National Corporation et al. and
                                                            WNC Receivables, LLC
                                                                         Annex X

<PAGE>

with others, direct or indirect, absolute or contingent, liquidated or
unliquidated, and whether or not from time to time decreased or extinguished and
later increased, created or incurred, and all or any portion of such obligations
that are paid to the extent all or any portion of such payment is avoided or
recovered directly or indirectly from any Purchaser or the Agent or any
transferee of the Purchaser or the Agent as a preference, fraudulent transfer or
otherwise.

     "SENIOR NOTE" shall mean any of the Parent's 6.41% Series A Senior Secured
Notes due March 30, 2004, Designated Rate Senior Secured Notes, Series C, due
March 30, 2004, 7.31% Senior Secured Notes, Series D, due December 17, 2004,
Designated Rate Senior Secured Notes, Series E, due March 13, 2005, 7.47% Senior
Secured Notes, Series F, due December 17, 2006, 7.53% Senior Secured Notes,
Series G, due December 30, 2008, 7.55% Senior Secured Notes, Series H, due
December 17, 2008, 8.04% Senior Secured Notes, Series I, due September 29, 2007,
or the PIK Notes.

     "SERVICER" shall mean Wabash Financing, LLC, in its capacity as the
Servicer under the Purchase Agreement, or any other Person designated as a
Successor Servicer.

     "SERVICER TERMINATION NOTICE" shall mean any notice by the Agent to the
Servicer that (a) an Event of Servicer Termination has occurred and (b) the
Servicer's appointment under the Purchase Agreement has been terminated.

     "SERVICING FEE" shall mean, for any day within a Settlement Period, the
amount equal to (a)(i) the Servicing Fee Rate divided by (ii) 360, multiplied by
(b) the Transferred Receivables on such day.

     "SERVICING FEE RATE" shall mean 1.00%.

     "SERVICING RECORDS" shall mean all documents, books, Records and other
information (including computer programs, tapes, disks, data processing software
and related property and rights) prepared and maintained by the Servicer with
respect to the Transferred Receivables and the Obligors thereunder.

     "SERVICING SOFTWARE" shall mean the data processing software used by the
Originators, Servicer and/or Seller for the purpose of servicing, monitoring,
and retaining data regarding the Transferred Receivables and the Obligors
thereunder.

     "SETTLEMENT DATE" shall mean the tenth Business Day following the end of
each Settlement Period.

     "SETTLEMENT PERIOD" shall mean (a) solely for purposes of determining the
Ratios, (i) with respect to all Settlement Periods other than the final
Settlement Period, each calendar month, whether occurring before or after the
Closing Date, and (ii) with respect to the final Settlement Period, the period
ending on the Termination Date and beginning with the first day of the calendar
month in which the Termination Date occurs, and (b) for all other purposes, (i)
with respect to the initial Settlement Period, the period from and including the
Closing Date through

                                       38

                                          Wabash National Corporation et al. and
                                                            WNC Receivables, LLC
                                                                         Annex X

<PAGE>

and including the last day of the calendar month in which the Closing Date
occurs, (ii) with respect to the final Settlement Period, the period ending on
the Termination Date and beginning with the first day of the calendar month in
which the Termination Date occurs, and (iii) with respect to all other
Settlement Periods, each calendar month.

     "SOLD RECEIVABLE" shall have the meaning assigned to it in Section 2.01(b)
of the Sale Agreement.

     "SOLVENT" shall mean, with respect to any Person on a particular date, that
on such date (a) the fair value of the property of such Person is greater than
the total amount of liabilities, including contingent liabilities, of such
Person; (b) the present fair salable value of the assets of such Person is not
less than the amount that will be required to pay the probable liability of such
Person on its Indebtedness as they become absolute and matured; (c) such Person
does not intend to, and does not believe that it will, incur Indebtedness or
liabilities beyond such Person's ability to pay as such Indebtedness and
liabilities mature; and (d) such Person is not engaged in a business or
transaction, and is not about to engage in a business or transaction, for which
such Person's property would constitute an unreasonably small capital. The
amount of contingent liabilities (such as Litigation, guaranties and pension
plan liabilities) at any time shall be computed as the amount that, in light of
all the facts and circumstances existing at the time, represents the amount that
can reasonably be expected to become an actual or matured liability.

     "ST. LOUIS REAL ESTATE" shall mean the real property commonly known as
12813 Flushing Meadows Drive, St. Louis, MO 63131.

     "SUBORDINATED INDEBTEDNESS" shall mean, for any period, on a consolidated
basis for the Parent and its Subsidiaries, the sum of Indebtedness of such
Persons the payment of which is subordinated to the payment of the Secured
Obligations to the written satisfaction of the Credit Facility Agent.

     "SUB-SERVICER" shall mean any Person with whom the Servicer enters into a
Sub-Servicing Agreement.

     "SUB-SERVICING AGREEMENT" shall mean any written contract entered into
between the Servicer and any Sub-Servicer pursuant to and in accordance with
Section 7.01 of the Purchase Agreement relating to the servicing, administration
or collection of the Transferred Receivables.

     "SUBSIDIARY" shall mean, with respect to any Person, any corporation or
other entity (a) of which securities or other ownership interests having
ordinary voting power to elect a majority of the board of directors or other
Persons performing similar functions are at the time directly or indirectly
owned by such Person or (b) that is directly or indirectly controlled by such
Person within the meaning of control under Section 15 of the Securities Act.

     "SUCCESSOR SERVICER" shall have the meaning assigned to it in Section 11.02
of the Purchase Agreement.

                                       39

                                          Wabash National Corporation et al. and
                                                            WNC Receivables, LLC
                                                                         Annex X

<PAGE>

     "SUCCESSOR SERVICING FEES AND EXPENSES" shall mean the fees and expenses
payable to the Successor Servicer as agreed to by the Seller, the Purchaser and
the Agent.

     "SUNTRUST SALE LEASEBACK" shall mean that certain sale and leaseback of
certain real property owned by the Parent and/or certain of its Domestic
Subsidiaries to be effected pursuant to that certain engagement letter
agreement, dated February 1, 2002, between the Parent and SunTrust Robinson
Humphrey.

     "TANGIBLE ASSETS" shall mean as of the date of any determination thereof,
with respect to any Person, total assets of such Person in accordance with
Agreement Accounting Principles, but excluding therefrom goodwill, patents,
patent applications, permits, trademarks, trade names, copyrights, licenses,
franchises, experimental expense, organizational expense, unamortized debt
discount and expense, the excess of cost of shares acquired over book value of
related assets and such other assets as are properly classified as "intangible
assets" in accordance with Agreement Accounting Principles.

     "TERMINATION DATE" shall mean the date on which (a) Capital Investment has
been permanently reduced to zero, (b) all other Seller Secured Obligations under
the Purchase Agreement and the other Related Documents have been indefeasibly
repaid in full and completely discharged and (c) the Maximum Purchase Limit has
been irrevocably terminated in accordance with the provisions of Section 2.02(b)
of the Purchase Agreement.

     "TERMINATION EVENT" shall have the meaning assigned to it in Section 9.01
of the Purchase Agreement.

     "TITLE IV PLAN" shall mean a Pension Plan (other than a Multiemployer Plan)
that is covered by Title IV of ERISA and that any Originator or ERISA Affiliate
maintains, contributes to or has an obligation to contribute to on behalf of
participants who are or were employed by any of them.

     "TRANSFER" shall mean any Sale or capital contribution of Transferred
Receivables to the Seller pursuant to the terms of the Sale Agreement.

     "TRANSFER DATE" shall have the meaning assigned to it in Section 2.01(a) of
the Sale Agreement.

     "TRANSFERRED RECEIVABLE" shall mean any Sold Receivable or Contributed
Receivable; provided, that any Receivable repurchased by an Originator thereof
pursuant to Section 4.05 of the Sale Agreement shall not be deemed to be a
Transferred Receivable from and after the date of such repurchase unless such
Receivable has subsequently been repurchased by or contributed to the Seller.

     "UCC" shall mean, with respect to any jurisdiction, the Uniform Commercial
Code as the same may, from time to time, be enacted and in effect in such
jurisdiction.

                                       40

                                          Wabash National Corporation et al. and
                                                            WNC Receivables, LLC
                                                                         Annex X

<PAGE>

     "UNAPPROVED RECEIVABLE" shall mean any Receivable (a) with respect to which
the Obligor thereunder is not an Obligor on any Transferred Receivable and whose
customer relationship with an Originator arises as a result of the acquisition
by such Originator of another Person, (b) that was originated in accordance with
standards established by another Person acquired by an Originator, in each case,
solely with respect to any such acquisitions that have not been approved in
writing by the Agent and then only for the period prior to any such approval, or
(c) with respect to which the Obligor thereunder is not creditworthy, as
determined by the Agent in its reasonable credit judgment.

     "UNDERFUNDED PLAN" shall mean any Plan that has an Underfunding.

     "UNDERFUNDING" shall mean, with respect to any Plan, the excess, if any, of
(a) the present value of all benefits under the Plan (based on the assumptions
used to fund the Plan pursuant to Section 412 of the Code) as of the most recent
valuation date over (b) the fair market value of the assets of such Plan as of
such valuation date.

     "UNFUNDED LIABILITY" shall mean, at any time, the aggregate amount, if any,
of the sum of (a) the amount by which the present value of all accrued benefits
under each Title IV Plan exceeds the fair market value of all assets of such
Title IV Plan allocable to such benefits in accordance with Title IV of ERISA,
all determined as of the most recent valuation date for each such Title IV Plan
using the actuarial assumptions for funding purposes in effect under such Title
IV Plan, and (b) for a period of five years following a transaction that might
reasonably be expected to be covered by Section 4069 of ERISA, the liabilities
(whether or not accrued) that could be avoided by any Originator or any ERISA
Affiliate as a result of such transaction.

     "UNDERFUNDING" shall mean, with respect to any Plan, the excess, if any, of
(a) the present value of all benefits under the Plan (based on the assumptions
used to fund the Plan pursuant to Section 412 of the Code) as of the most recent
valuation date over (b) the fair market value of the assets of such Plan as of
such valuation date.

     "UNITED STATES" shall mean the United States of America (including the
District of Columbia but otherwise excluding its territories and possessions).

     "UNMATURED DEFAULT" shall mean an event which, but for the lapse of time or
the giving of notice, or both, would constitute a Default (as defined in the
Credit Agreement).

     "UNUSED FACILITY FEE" shall mean, on any date of determination, a fee equal
to the product of (a) the applicable Per Annum Daily Margin for Unused Facility
Fees multiplied by (b) the excess (if any) of the amount set forth in clause (i)
of Maximum Purchase Limit over the aggregate Capital Investment.

     "WARRANTY POLICY" shall mean the warranty policies substantially in the
form of Schedule 4.01(s) to the Sale Agreement.

                                       41

                                          Wabash National Corporation et al. and
                                                            WNC Receivables, LLC
                                                                         Annex X

<PAGE>

     "WEEKLY INVESTMENT BASE CERTIFICATE" shall have the meaning assigned to it
in Section 2.03(a)(ii) of the Purchase Agreement.

     "WELFARE PLAN" shall mean a Plan described in Section 3(1) of ERISA.

     SECTION 2. Other Terms and Rules of Construction.

          (a) Accounting Terms. Unless otherwise specifically provided therein,
any accounting term used in any Related Document shall have the meaning
customarily given such term in accordance with Agreement Accounting Principles,
and all financial computations thereunder shall be computed in accordance with
Agreement Accounting Principles consistently applied. That certain items or
computations are explicitly modified by the phrase "in accordance with Agreement
Accounting Principles" shall in no way be construed to limit the foregoing.

          (b) Other Terms. All other undefined terms contained in any of the
Related Documents shall, unless the context indicates otherwise, have the
meanings provided for by the UCC as in effect in the State of Illinois from time
to time to the extent the same are used or defined therein.

          (c) Rules of Construction. Unless otherwise specified, references in
any Related Document or any of the Appendices thereto to a Section, subsection
or clause refer to such Section, subsection or clause as contained in such
Related Document. The words "herein," "hereof" and "hereunder" and other words
of similar import used in any Related Document refer to such Related Document as
a whole, including all annexes, exhibits and schedules, as the same may from
time to time be amended, restated, modified or supplemented, and not to any
particular section, subsection or clause contained in such Related Document or
any such annex, exhibit or schedule. Any reference to or definition of any
document, instrument or agreement shall, unless expressly noted otherwise,
include the same as amended, restated, supplemented or otherwise modified from
time to time. Wherever from the context it appears appropriate, each term stated
in either the singular or plural shall include the singular and the plural, and
pronouns stated in the masculine, feminine or neuter gender shall include the
masculine, feminine and neuter genders. The words "including," "includes" and
"include" shall be deemed to be followed by the words "without limitation"; the
word "or" is not exclusive; references to Persons include their respective
successors and assigns (to the extent and only to the extent permitted by the
Related Documents) or, in the case of Governmental Authorities, Persons
succeeding to the relevant functions of such Persons; and all references to
statutes and related regulations shall include any amendments of the same and
any successor statutes and regulations.

          (d) Rules of Construction for Determination of Ratios. The Ratios as
of the last day of the Settlement Period immediately preceding the Closing Date
shall be established by the Agent on or prior to the Closing Date and the
underlying calculations for periods immediately preceding the Closing Date to be
used in future calculations of the Ratios shall be established by the Agent on
or prior to the Closing Date in accordance with Schedule 1 attached to this
Annex X. For purposes of calculating the Ratios, (i) averages shall be computed
by rounding to the third decimal place and (ii) the Settlement Period in which
the date of determination thereof

                                       42

                                          Wabash National Corporation et al. and
                                                            WNC Receivables, LLC
                                                                         Annex X

<PAGE>

occurs shall not be included in the computation thereof and the first Settlement
Period immediately preceding such date of determination shall be deemed to be
the Settlement Period immediately preceding the Settlement Period in which such
date of determination occurs.

                                       43

                                          Wabash National Corporation et al. and
                                                            WNC Receivables, LLC
                                                                         Annex X

<PAGE>

                                   SCHEDULE 1

                              COMPUTATION OF RATIOS

                                       44

                                          Wabash National Corporation et al. and
                                                            WNC Receivables, LLC
                                                                         Annex X

<PAGE>

                                   SCHEDULE 2

                    PERMITTED EXISTING CONTINGENT OBLIGATIONS

                                       45

                                          Wabash National Corporation et al. and
                                                            WNC Receivables, LLC
                                                                         Annex X

<PAGE>

                                   SCHEDULE 3

                         PERMITTED EXISTING INDEBTEDNESS

                                       46

                                          Wabash National Corporation et al. and
                                                            WNC Receivables, LLC
                                                                         Annex X

<PAGE>

                                   SCHEDULE 4

                         PERMITTED EXISTING INVESTMENTS

                                       47

                                          Wabash National Corporation et al. and
                                                            WNC Receivables, LLC
                                                                         Annex X

<PAGE>

                                   SCHEDULE 5

                            PERMITTED EXISTING LIENS

                                       48

                                          Wabash National Corporation et al. and
                                                            WNC Receivables, LLC
                                                                         Annex X

<PAGE>

                                  SCHEDULE ER-C

                         FORM OF WAIVER OF OFFSET LETTER

                             [WABASH NATIONAL LOGO]

VIA TELECOPY

Addressee: Mr. Bill Riley
Customer:  Swift Leasing Co., Inc.
Address:   2200 S. 75th Ave.
           Phoenix, AZ  85043

Dear Bill:

     On April 12, we closed on the restructuring of our senior indebtedness,
including our working capital facilities. One of the lenders participating in
this financing, General Electric Capital Corporation (together with its
affiliates, "GECC"), will finance the accounts receivable that we and our
affiliates ("Wabash") generate in connection with our new trailer sales. As part
of that financing, GECC has asked us to request that our customers acknowledge
and agree that they will not assert a right of offset or recoupment ("Offset")
against Wabash or GECC solely as such Offset might exist with respect to
Wabash's obligations to accept or pay for any used trailers in connection with
the purchase of new trailers from Wabash. I would appreciate it if you sign this
letter acknowledging your agreement to not assert against Wabash or GECC any
Offset with respect to any account receivable owed by you (or any of your
affiliates) to Wabash and that GECC will rely on your agreement in extending
financing to us.

     If you could sign this letter and return it to me by telecopy as soon as
possible it would be greatly appreciated. My telecopy number is 765-772-2600.
Thank you in advance for your cooperation and prompt attention to this matter.

                                        Best regards,

                                        Mark Holden
                                        Senior V.P.-CFO

Acknowledged and agreed to:

Swift Leasing, Co., Inc

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

                                       49

                                          Wabash National Corporation et al. and
                                                            WNC Receivables, LLC
                                                                         Annex XExhibit 10.2

                            MASTER LICENSE AGREEMENT

THIS MASTER LICENSE AGREEMENT (generally, the "Transaction" or "Agreement") made
and entered into as of the 1st day of July, 2001, by and between DIGITAL THEATRE
RESOURCES CO., a Tennessee  general  partnership and its affiliates  ("DTR") and
DAVID V. LOTT and SHOWINTEL NETWORKS, INC. (collectively, "Licensee"). The names
of the present DTR affiliates are Malco Stage Road, LLC and Malco Theatres, Inc.
(collectively,  "Malco"),  superseding any and all understandings and agreements
regarding the subject matter.

                                    RECITALS

Licensee  has also  represented  to DTR that they and their  operation  have (i)
developed  and shall  operate at DTR  locations a Plasma and Digital  Projection
Wall Displays with integrative  software control through a site-based server and
systems software that displays  advertising and other matter (herein  sometimes,
as "Displays" or "Dynamic  Displays"),  (ii) the capacity and continued capacity
to provide DTR  brokered  locations  with a network  operation  and  interactive
touch-screen  access and e-commerce shopping and (iii) that they are developing,
and  will  continue  to  develop,  products  and  services  that  can be used in
conjunction with their servers, master controls and facilities. [Items (i), (ii)
and (iii) are hereinafter  collectively sometimes referred to for convenience as
"Licensee's Products and Services."]

Licensee  and DTR each  perceives  mutual  benefits of displays of  advertising,
trailers  and other  matter in a DTR  location  lobby and  products  sold at DTR
locations by e-commerce, including compact disks and other services and products
of Licensee.

DTR and Malco have entered into a separate agreement contemplating that DTR will
broker  Licensee   services,   products  and  facilities  at  Malco   locations,
conditioned  upon Malco  acknowledging  (which  Malco does as  evidenced  by its
signature below) that (i) DTR has no obligations to perform under this agreement
or to provide  Licensee  services,  products or  facilities  and Malco will look
exclusively  to Licensee for such  services,  products and  facilities  and (ii)
Malco, with DTR's  participation,  Malco will look exclusively to Licensee;  and
Malco will look  exclusively to DTR for  compensation  under this Master License
Agreement.

Given that Malco is about to become the first movie  exhibitor to contract  with
Licensee for their advertising program and their Kiosk-based programs (including
e-commerce and compact disks programs),  therefore,  as an inducement for DTR to
enter into and  continue  to  perform  this  agreement,  Licensee  warrants  and
covenants to DTR as follows:

     (i)  During the term of this agreement and each extension hereof, the Malco
          locations  will  in all  cases  be  given  priority  treatment  in the
          provision and  installation of equipment and  operational  support and
          continued  operational support despite the size or potential financial
          rewards  to  Licensee  or the  affiliates  of  either of them of later
          exhibitor prospects or customers of Licensee; and

                                              PAGE 1 OF MASTER LICENSE AGREEMENT
<PAGE>
     (ii) DTR  and  Licensee  as of this  day and  date  entered  into a  Broker
          Agreement  (which  is  part  of  this  Master  License   Agreement  by
          reference)  respecting  (a)  exclusivity  for a territory  composed of
          Shelby County and a radius of 250 miles from the Shelby County borders
          and the County of St. Louis, Missouri,  together with an area within a
          radius of thirty (30) miles of the County of St. Louis borders; and

in entering into this  Agreement and  performing  their  respective  obligations
hereunder,  DTR and Malco each relies upon each of said inducements and Licensee
covenants.

NOW,  THEREFORE,  for  and in  consideration  of the  recitals,  the  sum of One
Thousand  ($1,000.00)  Dollars  cash in hand paid by Licensee to DTR,  and other
good and valuable consideration,  the receipt and sufficiency of all of which is
hereby  acknowledged,  and  for  the  further  consideration  of the  covenants,
agreements and stipulations  herein  contained,  the parties hereto do adopt the
recitals  into  the body of this  agreement  and  further  do  hereby  covenant,
undertake and agree with each other as follows:

1.   LICENSE.  DTR has  brokered an  agreement  between  Malco and  Licensee and
     pursuant thereto, Malco and Licensee agree as set forth in this Section 1.

1.1  Malco hereby  grants unto Licensee the personal and  non-assignable  rights
     and  privilege  for  providing  advertising  via Displays and such products
     [Licensee will provide DTR with Kiosk-based programs that include a network
     operation  and  interactive  touch-screen  access and  e-commerce  shopping
     including the  Kiosk-based  Stations] in its locations as designated on the
     attached  ANNEX  "A",  and such other  locations  as DTR may  designate  in
     writing;  and in exchange for the master  license,  Malco's  covenants  and
     undertakings  herein expressed and the benefits  conferred hereby and to be
     conferred  upon  Licensee,  Licensee  covenants  and  agrees  that he shall
     continuously,  and  without  interruption,  provide  such  advertising  and
     display and  Kiosk-based  products and programs  during the usual  business
     hours  of  the  location  and  each  regular  business  day  on  which  the
     location(s)  are open for business in strict and faithful  compliance  with
     the requirements herein imposed upon Licensee and the Licensee undertakings
     herein set forth.  A name change of Licensee or a merger into a corporation
     with substantially identical ownership and management will not be deemed to
     be an assignment;  except, however, as a condition precedent to such change
     or merger,  there must first be a signed  Agreement  of  assumption  of all
     obligations  by  the  assignee  and on  terms  satisfactory  to DTR  and in
     compliance with Subsection 8.2(f).

1.2  Licensee  shall  make  no  material  alterations  or  installations  to  or
     affecting any Malco location without Malco's prior written approval.

1.3  The term of the DTR Master license herein granted shall commence on July 1,
     2001,  and shall continue until the later to occur of July 31, 2003, or the
     expiration  of the  separate  two (2) year  license  for any  specific  DTR
     location;  but the term of the separate  license for any specific  location
     herein  granted  shall  continue for a period of two (2) years from date of

                                              PAGE 2 OF MASTER LICENSE AGREEMENT
<PAGE>
     installation; however, the master term and each specific license is subject
     to sooner  termination  as provided by the provisions of Sections 8, 12, 20
     and 23 of this Agreement.

2.   LICENSE FEES, ETC; BENEFITS. Licensee further covenants and agrees with DTR
     to pay each month and no later than the  seventh  (7th) of the month and to
     account for each month unto DTR for the licenses, unless Licensee,  because
     of their default(s),  must account and pay DTR more frequently as otherwise
     required by this Agreement:

2.1  A fee  equal  to  fifty  (50%)  percent  of each  month's  gross  revenues,
     (hereinafter  defined),  ["DTR  share"],  except that for prepaid  revenues
     received or accrued Licensee shall thereupon pay to DTR fifty (50%) percent
     of such  prepaid  revenues;  and the term  "gross  revenues"  includes  the
     imputed  fair value of any barter that arises or in the future  arises from
     Licensee  advertising at any Malco location;  and, for e-commerce  sales at
     DTR locations, fees will be determined by written agreement of the Parties.
     (See Subsection 2.5 below providing for additional fees and royalties.)

2.2  All  such  gross  revenues  received  by  Licensee  shall be  reported  and
     accounted for, at Licensee's own cost, by the methods used by DTR, or which
     may hereafter be adopted or used by DTR.

2.3  Except as required by Subsection  8.2(h), the amount of such gross revenues
     effected by Licensee shall be  ascertained  monthly on a calendar basis and
     Licensee shall provide DTR with a full, true and correct  statement showing
     such gross revenues for the month and such statements  shall be provided to
     DTR on the seventh of each month, accompanied by a check for the amount, if
     any, due to DTR if not paid for the prior month on the seventh (7th) day of
     the month.

2.4  Licensee  holds  all such DTR  Share IN  TRUST  for DTR and  Licensee,  and
     Licensee grants DTR a  first-priority  security  interest in the DTR Share,
     now or hereafter arising,  arising from operations at or in connection with
     DTR locations.

2.5  During the term of this Agreement,  Licensee shall punctually pay DTR added
     royalties for being the demonstration  model in sums equal to five (5%) per
     cent of gross  advertising  revenues  at  locations  (sold or  serviced  by
     Licensee)  generated by third parties  within a 10-mile radius of any Malco
     location(s) and an added five (5%) per cent of gross  advertising  revenues
     generated by each third party which  contracts  with  Licensee  after being
     shown  (prior  to  contracting   with  Licensee)   operations  at  a  Malco
     location(s)  or its  headquarters;  this  obligation  cannot be  avoided or
     evaded by an affiliate.

3.   INTEGRATION.  As far as Malco customer-base and the other public is and may
     become  aware,  Licensee's  name  will  not  be  publicized;   rather,  the
     advertising display and all Licensee functions will appear to the public as
     an integrated part of the Malco operations,  except that Licensee may apply
     a  tasteful   identification   below  the  panels  and  may  also  show  an
     identification "spot" in the advertising rotation, subject to Malco's prior
     written approval, which will not be unreasonably withheld.

                                              PAGE 3 OF MASTER LICENSE AGREEMENT
<PAGE>
4.   LOTT - INDEPENDENT CONTRACTOR.

4.1  Licensee is an independent  contractor.  The parties  (including Malco) are
     not partners; the parties are not engaged in a joint venture; as far as the
     vendors and creditors of Licensee are and may become aware,  Licensee is an
     independent  contractor  responsible  for purchase and payment of their own
     equipment,  software  and  services  in their  own  name  and in their  own
     responsibility and account.

4.2  Licensee  agrees to furnish  all  equipment,  software  and support for the
     operation in the licensed  space.  Said  furnishings  and  equipment at all
     times will belong to and be owned by Licensee,  and Licensee shall maintain
     them in good  condition and  state-of-the-art,  working  order,  repair and
     replacement.

4.3  Licensee agrees to obtain and pay for, at their own costs, all expenditures
     and expenses  associated  with the services and products  contemplated  for
     Licensee to furnish now or in the future  under this  Agreement  (except to
     the extent  specifically  and  expressly  excluded  in this  Agreement  and
     imposed on DTR).  Included  in these  expenditures  and  expenses,  without
     limiting the generality of the foregoing, are:

     (a)  ALL UTILITIES BILLED AFTER NOVEMBER 1, 2002, WITHOUT EXPENSE TO MALCO.
          Licensee shall also pay all  governmental  charges,  of every kind and
          nature, which have been or may be levied,  assessed or charged against
          Licensee's property and goods. All other expenses of operation will be
          paid for by  Licensee  without  cost as a part of the  services  to be
          supplied.

     (b)  All necessary employee or contractor records,  sales tax records,  and
          any other  records  required by state,  county or federal law shall be
          kept  by  Licensee  for  their  own  employees,   contract  employees,
          subcontractors and supplier; and further Licensee shall be responsible
          for their own personnel, their wages and all taxes thereon or measured
          thereby.

     (c)  All   expenditures   and   expenses   related   to  the   acquisition,
          installation,   operation,   maintenance,   repair,   replacement  and
          upgrading of the Dynamic  Displays and Kiosks.  Each Dynamic  Display,
          Kiosk,  and its related  hardware  and software  components,  with the
          exception of the content provided by Malco,  shall remain the property
          of Licensee.  In the event of termination of any license for a Dynamic
          Display,  Malco  shall not be  entitled  to use,  retain or  otherwise
          appropriate  any  rights to any of the  intellectual  property  rights
          owned or controlled by Licensee with respect to the Dynamic Display.

     4.4  Malco under this  Master  Agreement  is a  beneficiary  of  Licensee's
          covenants,  undertakings and obligations  herein set forth, as is DTR,
          and Malco is  granted  the right and power to  enforce  such  Licensee
          covenants,  undertakings and obligations  hereunder to the same extent
          as if the name of Malco is  expressly  set forth herein in each place,
          and DTR has no  responsibility  of any kind  directly to Licensee once
          the contract is signed other than to remit to Malco its ratable  share
          of the DTR share.

                                              PAGE 4 OF MASTER LICENSE AGREEMENT
<PAGE>
4.5  During the initial base period expiring July 31, 2003, Malco shall bear all
     the costs for  utilities  for normal and expected  cost of  utilities,  but
     Malco will monitor from time to time the utilities to determine  whether or
     not the utility cost  exceeded  expectations.  Malco will decide where real
     estate  alterations  will be made and shall  bear the  reasonable  costs of
     construction  to  buildings  and  improvements  for  the  accommodation  of
     Licensee or Licensee-related equipment.

4.6  Licensee  shall  bear the cost of  returns  of  product  purchased  through
     e-commerce by any Malco customer for sales  originating on or in connection
     with Malco  locations  based upon a liberal return policy in recognition of
     the loyalty of Malco customers.

5.   LOTT COVENANTS. Licensee hereby further covenants and agrees with Malco:

     (a)  As a further  material  inducement  for DTR and Malco to enter into or
          perform this Agreement, Licensee further covenants and agrees with DTR
          and with  Malco to provide  the  priority  treatment  set forth in the
          recitals,  on which  inducement and covenant both DTR and Malco relies
          and will continue to rely.

     (b)  Licensee's  systems shall be fully  operational in designated  initial
          Malco  location(s)  (which are listed on ANNEX "A"  attached) no later
          than November 1, 2001.

     (c)  Licensee is and shall be  responsible,  at their own cost and expense,
          for installation,  management,  maintenance,  repair,  replacement and
          upgrading of the equipment and systems  transactions  to provide Malco
          with reliable and first-class advertising and shopping systems.

     (d)  Before displaying advertising in any Malco location(s), Licensee shall
          provide Malco advance screening in each case without exception.

     (e)  Licensee (i) shall avoid  operating  any display and  advertising  and
          (ii) shall not display any advertising  matter or display in any Malco
          location(s)  unless and until  Malco has given its prior  written  and
          specific  approval,  which it may withhold,  delay or condition in its
          sole and uncontrolled discretion.

     (f)  Given that  technology  is changing  rapidly,  Licensee  shall also be
          responsible,  at their expense, for upgrading hardware and software to
          timely keep pace with technological advances and replacements.

     (g)  In extension of these  covenants,  upon the  expressed  prior  written
          permission  and in each  location,  present and future,  specified  by
          Malco,  Licensee  shall install the Dynamic  Display,  the  site-based
          server,  Kiosk equipment (for compact disks and e-commerce and loyalty
          program),   "Kiosk-based  operating  software,"  "network  operations"
          software,  related  high-speed data lines and additional  hardware for
          the  facilitation  of Licensee's  services.  The  commencement of full
          operation of that Dynamic  Display in such Malco  locations shall mark

                                              PAGE 5 OF MASTER LICENSE AGREEMENT
<PAGE>
          the  beginning  of the  term of the  license  for  that  unit  for the
          purposes of calculations under Section 2 above.

     (h)  Licensee  shall  conduct  their  operations  during  existence of this
          contract with skill and according to highest  professional ethics; and
          in extension  thereof,  Licensee shall deal with advertisers and their
          respective  agencies and agents with high ethical  standards and shall
          not charge for nor collect any advertising revenues (unless identified
          to the advertiser as prepaid  advertising) until actually displayed in
          a Malco location.

     (i)  Two-thirds  of the  available  time  in the  rotation  of  advertising
          content  is  expected  to be  devoted  to  advertising  paid by  third
          parties.  DTR has no  obligation to pay  advertising-related  expenses
          except  for  the  production  of  advertising  content   intentionally
          provided by or on behalf of itself,  its  subsidiaries  and affiliates
          and  except  for  those  expenses  specifically   identified  in  this
          agreement.  Licensee shall also bear the costs,  if any, of conversion
          from analog to digital of any of the advertising content.

     (j)  Also as part of the  consideration  given to DTR and Malco  during the
          term of this Master  Agreement,  Licensee  hereby further grants Malco
          the right and power to use that equipment  which  Licensee uses,  will
          use or dedicates  for their use at Malco  locations  for any or all of
          the  following  Malco  purposes:  other  Malco  operations  including,
          without  limitation,  highspeed  or broadband  connections;  provided,
          however,  Malco's  right and power to use any such  equipment  will be
          restricted to the extent that it materially interferes with Licensee's
          use of such  equipment  and to the extent that it does not  materially
          add to Licensee's cost of use.

     (k)  Licensee  shall  cooperate  fully  with Malco in the  furtherance  and
          development  of Malco's  loyalty  program at no additional  expense to
          Malco.  In  extension  thereof,   Licensee's  hardware,  software  and
          accounting  shall be utilized to maintain  Malco's loyalty program and
          the hardware,  software and  accounting  shall be developed  with full
          cooperation by Licensee.

     (l)  Licensee shall indemnify, defend (at their expense) and hold Malco and
          its affiliates  (including  DTR) harmless from and against any and all
          product  liability  claims  that may be  suffered or asserted by Malco
          customers or any other claimant,  family or otherwise,  arising out of
          defective  Licensee  equipment or products whose sales are effected at
          Malco locations or in conjunction with Malco operations.

     (m)  The Licensee  advertising display, and their concept, and the Licensee
          Products  and Services and  Kiosk-based  sales  covered by this Master
          License  Agreement  shall be exclusively  available in Malco locations
          for five (5) years from date (or, if earlier,  upon termination of the
          license  hereunder for that  location)  within the radius  hereinafter
          described;  and Licensee shall under no circumstances  make such goods
          and  services  available,   directly  or  indirectly,   to  any  other
          exhibitors  within a 20-mile radius of each Malco location during such

                                              PAGE 6 OF MASTER LICENSE AGREEMENT
<PAGE>
          five (5) year period unless prior written consent is given by Malco in
          writing, which Malco may withhold in its absolute discretion. Licensee
          shall deal with advertisers and their  respective  agencies and agents
          with high  ethical  standards  and shall not charge for or collect any
          advertising  revenues (unless  identified to the advertiser as prepaid
          advertising)  until the  advertising is actually  displayed in a Malco
          location.

6.   REPRESENTATIONS AND WARRANTIES.  As further material  inducements for Malco
     and DTR to sign this  Agreement  and to  continue  to  perform  under  this
     Agreement,  Licensee hereby  represents and warrants to Licensee and Malco,
     and  each  of  them,   each  of  the   following,   which  are   continuing
     representations and warranties:

     (a)  Standard vendor  representations  and  warranties,  including that the
          equipment  (including  systems and software) have been  pre-tested and
          are and will be bug-free and will be continuously operational.

     (b)  Licensee has  developed a Plasma and Digital  Projection  Wall Display
          with integrative  software control which presently  consists of plasma
          screens with integrated  software,  as well as digital projection wall
          displays, that are controlled through a site-based server which stores
          content  for the  Dynamic  Display and a  high-speed  connection  to a
          remote server. (The number of panels may vary depending upon Malco and
          Licensee objectives, as adjusted.)

     (c)  Licensee  has  participated  in the  design and  exclusively  owns and
          operates  and  shall   continuously  keep  in  first-class,   reliable
          operation,  without  interruption,  "dynamic display operating system"
          software which permits each of the four panels of the Dynamic  Display
          to present different or coordinated  multi-media digital content.  The
          multi-media  digital  content  displayed  on each of the panels of the
          Dynamic  Displays  is  intended  to assist in the  promotion  of Malco
          Theatres or generate revenues as follows:

          (i)   Project or display  "trailers"  or other  promotional  materials
                relating to attractions and concessions at the Malco Theatres.

          (ii)  Project or  display  "loyalty  program"  information,  including
                special discount and contest activities.

          (iii) Project or  display   advertisements   by  paying  sponsors  and
                advertisers.

          (iv)  Project or display general  information of public  interest (via
                text or video transmission)  or certain  productions  related to
                Malco Theatres' loyalty or merchandising programs.

          (v)   Multiple panels may be linked to display one contiguous  display
                depending upon content to be displayed.

                                              PAGE 7 OF MASTER LICENSE AGREEMENT
<PAGE>
     (d)  Licensee  has  participated  in the  design  of and  exclusively  owns
          software  and shall  continuously  link,  manage and  operate  digital
          transmissions  in  each  and all of the  Dynamic  Displays  through  a
          process known as "network operations."

     (e)  Licensee has developed,  exclusively owns and, as and where designated
          by Malco, shall operate  Interactive  Touchscreen Access Stations (the
          "Kiosk-based Stations") controlled through integrated software capable
          of integration with a site-based server.

     (f)  Licensee has  participated in the design,  exclusively  owns and shall
          operate "Kiosk operating system" software for the Kiosk-based Stations
          which  permits  users to engage in  high-speed  digital  transactions,
          including "e-commerce  shopping,"  Internet-based  entertainment,  and
          purchasing of downloaded digital multi-media content (such as recorded
          music or films).

     (g)  Licensee is the sole owner,  legally  and  beneficially,  of the Kiosk
          Operating  System and there are no persons,  government(s) or entities
          who have, or have asserted a claim to, ownership, lien or any interest
          in the Kiosk Operating  System,  including,  without  limitation,  any
          persons or entities who have, or have  asserted a claim to,  royalties
          or income from the Kiosk Operating  System or from any of its features
          or components.

7.   INDEMNITY.  Licensee agrees to defend,  at their expense,  and to indemnify
     and hold Malco  harmless  from and  against  any and all  claims,  actions,
     proceedings or lawsuits  asserted or filed against Malco or DTR arising out
     of the development, organization, ownership, use or marketing of Licensee's
     products  or  services,   or  any  combination  of  the  foregoing  (herein
     collective as "contest"). The indemnity in this Section 7 is in addition to
     the  indemnities at Subsection 5(l) and Section 21 herein.  However,  Malco
     reserves the right (although it is not obligated to do so), at its expense,
     to employ its own  separate  counsel to appear and  represent  Malco in any
     such  contest or to monitor the  contest,  and  Licensee  agrees that their
     counsel shall cooperate fully with such separate counsel employed by Malco.

8.   REMEDIES.

8.1  LOTT'S  REMEDIES UNDER THE AGREEMENT.  Remedies for default by Malco of its
     duties or obligations under this agreement: only termination.

8.2  MALCO'S REMEDIES UNDER THE AGREEMENT.  Upon any default by Licensee;  Malco
     is empowered to exercise any one following remedies:

     (a)  Right and power to terminate at any time for any reason, or no reason,
          that  Malco  deems   advisable,   in  Malco's  sole  and  uncontrolled
          discretion;  and Licensee  shall remove  equipment  within one hundred
          twenty (120) calendar days thereafter.

     (b)  Recover   all   amounts   to  which   Malco  is   entitled   to  under
          revenue-sharing.

                                              PAGE 8 OF MASTER LICENSE AGREEMENT
<PAGE>
     (c)  Obtain  a  restraining   order  and  injunctive  relief  whenever  the
          exclusivity or royalty  provisions are violated or any other equitable
          remedy or all of same.

     (d)  Malco  enjoys the  option,  on  termination  by  Licensee  or by Malco
          whenever  Licensee  defaults,  to  buy  the  plasma  screens,  digital
          projectors,   screens,  and  any  other  hardware  or  non-proprietary
          software for a price fixed by formula.

     (e)  Malco  shall  also  be  direct  additional   beneficiary  of  each  of
          Licensee's   contracts  with  advertising   providers,   including  an
          intermediary  (who  places  advertising):  Malco  shall have right and
          power to enforce Licensee's  agreement with the advertiser,  agency or
          advertising provider.

     (f)  Given  that  Licensee's   programs   hereunder  are  made  exclusively
          available in Malco locations for five (5) years and not made available
          to any other exhibitors within a twenty (20) mile radius of each Malco
          location  unless prior  written  consent is given by Malco in writing,
          Malco shall enjoy the  remedies of  restraining  order or  injunction,
          without  bond,  to enforce  this  exclusivity  and its other  remedies
          hereunder.

     (g)  In the event the Licensee fails to make the specified  periodic fee or
          royalty  payment and default  continues  for a period of fifteen  (15)
          days after  written  notice to Licensee of such  default,  then and in
          that  event  the  Malco  shall  have the  added  power  and  remedy of
          declaring  this License  Agreement  thereupon  terminated and have the
          further  right and  remedy to  collect  from the  Licensee  the entire
          unpaid balance.

     (h)  In the events that  Licensee for two (2)  consecutive  months fails to
          make the  specified  periodic fee or royalty  payment on the scheduled
          date for  payment or in the  events  that  Licensee  fails to make the
          specified periodic fee or royalty payments on the scheduled date three
          times  within any period of twelve (12)  consecutive  months,  then in
          either such case Malco or DTR shall have the added power and remedy of
          declaring this license agreement  thereupon  terminated with the right
          to make demand and collect from Licensee the entire unpaid  balance or
          DTR shall  have the  added  power and  remedy  of  requiring  that the
          requirements  of Section 2 be tightened in the following  manner:  The
          amount of gross revenues  effected by Licensee under Section 2.3 shall
          be ascertained  monthly or  semi-monthly as designated by DTR and that
          Licensee  covenants and agrees with DTR to pay DTR weekly or bi-weekly
          as required by DTR each Tuesday  following the conclusion of the prior
          week or bi-week.

8.3  REMEDIES  CUMULATIVE.  Except  as may be  otherwise  specifically  provided
     herein,  all rights,  privileges and remedies  afforded the parties by this
     Agreement shall be deemed  cumulative and not exclusive and the exercise of
     any one or more of such remedies  shall not be deemed a waiver of any other
     right,  remedy,  privilege  provided  for herein or  available at law or in
     equity. Remedies may be exercised separately and sequentially.

                                              PAGE 9 OF MASTER LICENSE AGREEMENT
<PAGE>
9.   ANNOUNCEMENTS.  Until the  execution  and delivery of this  Agreement,  the
     timing and content of all announcements, publicity or reports regarding any
     aspect  of  the  Transaction  to  the  financial   community,   advertising
     community,   government  agencies,  customers,   suppliers  or  the  public
     generally  must be  mutually  agreed  upon in writing in advance and either
     party may exercise its  independent  judgment  about any detail of any such
     announcement.

10.  GOVERNING  LAW.  This letter shall be governed by and  construed  under the
     laws of the State of Tennessee as applied to contracts  entered into solely
     between  residents of and to be performed  entirely in such state,  and the
     forum for any dispute will be a court of general jurisdiction within Shelby
     County, Tennessee.

11.  EXPENSES.  Each party  will pay  their/its  own  expenses  incident  to the
     negotiation,   preparation   and  execution  of  this   Agreement  and  the
     transactions  contemplated  thereby,  including  all fees and  expenses  of
     counsel and accountants and any broker or finder commission.

12.  TERMINATION.  Licensee is hereby obligated (i) to give at least thirty (30)
     days  advance  written  notice  before  termination  of service  and before
     removal of any of the  equipment  and (ii) to remove  Licensee's  equipment
     from  Malco's  premises  not more than seven (7)  calendar  days from their
     receipt of notice in the event of termination by Malco or its affiliate.

     Upon  termination  this  Agreement  shall have no  further  force or effect
     except for the  obligations  regarding  announcements  and  expenses  under
     Sections 3 and 5, which  obligations  shall survive for a period of one (1)
     year from date hereof.

13.  CONTENT.

     (a)  Malco at its  election  at any time and from time to time may  provide
          content to Licensee for the display,  which may include  "trailers" or
          other promotional materials relating to attractions and concessions at
          the Malco  Theatres,  and such  display  shall be made at no charge to
          Malco.

     (b)  Licensee shall continuously  provide all other content for the Dynamic
          Displays  and  advertising  and  sponsorship  content  for the Dynamic
          Displays subject to Malco's powers under Subsection 8(e).

14.  ACCESS.  Licensee hereby agrees to and grants to Malco reasonable access to
     Licensee's books and records.

15.  SUBORDINATION.  Licensee's  banker(s)  as a  condition,  precedent  to  the
     effectiveness   of  this   Agreement   shall  deliver  to  Malco  (in  form
     satisfactory  to  Malco)  that  such  Lender(s)  thereby  subordinates  its
     security  interest in this  Agreement  and in the  revenues  and  equipment
     involved in this  transaction  to Malco's  position  and not to disturb the
     same.

                                             PAGE 10 OF MASTER LICENSE AGREEMENT
<PAGE>
16.  LIABILITY.  Each party has no obligation  or liability to the other,  other
     than as expressly set forth in the Agreement.

17.  SUBJECT TO. The licenses  granted to Licensee  hereunder  are in every case
     subject to terms or conditions of leases  between Malco,  other  exhibitors
     and third-parties.

18.  BASE  STATION.  Licensee,  DTR and Malco  each  acknowledge  that the first
     on-site   server  is  designed  to  be  the  "base  station"  for  multiple
     applications  to be delivered  and installed per a roll out schedule as the
     systems become available and the market warrants.

19.  FURTHER  WARRANTIES BY EACH PARTY.  Each party and signatory hereto further
     represents and warrants to, and covenants and agrees with, each other party
     and  signatory,  as of  the  date  of  this  Agreement  Date  and as of the
     Assignment Date, as follows:

     (a)  Said  Party/Signatory  has the full and unrestricted  right, power and
          authority to enter in to this  Agreement and to consummate the actions
          contemplated in this Agreement without the joinder,  consent, approval
          or concurrence of any other individuals or entities or of any court or
          governmental agency; and

     (b)  Upon the satisfaction of the  pre-conditions  of this Agreement,  each
          Party/Signatory  shall  take,  and  agrees to take,  the  actions  and
          execute and enter into the  instruments  and  agreements  contemplated
          herein to be taken or executed.

20.  ABATEMENT.  In the  event  of fire by which  the  building  in  which  said
     premises  are located  shall be destroyed  so as to make it  impossible  to
     carry  on  business  therein,  then  this  license  as  to  that  exhibitor
     location(s)  shall become  terminated and be of no further force and effect
     as to Licensee operations in that particular exhibitor location(s);  but in
     case said premises shall be only partially destroyed,  exhibitor shall have
     the  right at its own  option,  within  a  reasonable  time to  place  said
     premises in a suitable  condition  for  business  purposes  and to continue
     business therein,  in which event said license for that exhibitor  location
     shall not be terminated.  In the event that during such repairs Licensee is
     not able to conduct  their  operation  thereat,  this  Agreement as to that
     location  shall be suspended for that period of time it takes the exhibitor
     to place said premises in a workable condition.

21.  INDEMNITY; INSURANCE.

21.1 The parties  mutually  agree that,  at all times,  each will save the other
     harmless,  defend and  indemnify  the other  against all  actions,  claims,
     demands,  liabilities  and damages  (including  suits for  infringement  of
     trademarks),  which may,  in any  manner,  be imposed  upon or  incurred by
     either  party as a  consequence  of or arising  out of any act,  default or
     omission on the part of either party, or their/its employees or agents, all
     in  connection  with the  operation of  their/its  business and that of any
     affiliate or  subsidiary,  or in other  words,  the party hereto in default
     will bear the burden as outlined above.

                                             PAGE 11 OF MASTER LICENSE AGREEMENT
<PAGE>
21.2 Licensee shall carry the following insurance:

     Workmen's  Compensation  for the  employees  of Licensee to the full extent
     legally required;

     Comprehensive  public  liability in limits of  $300,000.00/$500,000.00  for
     bodily injury and $2,000,000.00 for property damages.

21.3 The foregoing  insurance policies shall cover DTR, Malco and Licensee,  and
     shall be written by companies reasonably  satisfactory to DTR. Certificates
     for such  policies with DTR,  exhibitor and landlord as added  insureds and
     loss payees shall be furnished by Licensee to Malco. The premiums  required
     to keep said  insurance  policies in full force and effect shall be paid by
     Licensee.  If Licensee  fails to do so, either DTR or Malco may effect such
     insurance,  pay the premiums thereof,  charge the same to Licensee,  and be
     reimbursed from the gross receipts of the business of Licensee. Such policy
     or  policies  shall be in such form and with such  insurance  companies  as
     shall be reasonably  satisfactory  to Landlord with  provision for at least
     twenty (20) days'  notice to Malco and landlord of  cancellation.  At least
     ten (10) days  before the  expiration  of any such  policy  Licensee  shall
     supply Landlord and DTR with a substitute therefor with evidence of payment
     of the premiums  thereof.  If such premiums shall not be so paid and/or the
     policies  therefor  shall not be so  delivered,  then  Landlord  or DTR may
     procure  and/or pay for the same and the amounts so paid by Landlord,  with
     interest  thereon  at the rate of six (6%)  percent  per annum from time of
     payment, shall be collected out of gross revenues or interest.

22.  BANKRUPTCY.  In the event a petition in  bankruptcy  is filed by or against
     either of the parties  hereto,  or if either party should become  insolvent
     within the meaning of any State or Federal  Insolvency  Law, or should make
     an assignment for the benefit of creditors, or if a receiver for all or any
     part of the  business of either  party is  appointed  an such  receivership
     shall  not be  vacated  within  five (5) days from the date of their or its
     appointment, or if any property or assets of either party shall be attached
     and such  attachment  shall not be vacated  within  ten (10) days,  then in
     either of said events this Agreement  shall be deemed breached by the party
     at fault,  and the other party  shall be  entitled to be released  from all
     liability for further performance of this Agreement, and if Licensee is the
     defaulting  party,  then the Malco  shall  have the right to  re-enter  the
     premises.  This Agreement shall, in no event, constitute an asset of either
     party so as to be assignable to anyone,  including a receiver or trustee in
     bankruptcy, by operation of law or otherwise.

23.  MATERIALITY.  Each and all of the agreements of Licensee  herein  contained
     are material and of the essence of this  Agreement,  and if Licensee  shall
     default or permit a breach in whole or in part of any covenants, agreements
     or stipulations herein contained to be kept by him, Malco may give Licensee
     notice,  in writing,  to be sent by United States  registered mail, of said
     breach or default,  and Licensee  shall then have seven (7) days after said
     notice  within  which to cure and rectify  said  breach or default.  In the
     event  Licensee  fails to rectify  said breach or default  within seven (7)
     days,  he shall then be lawful for the Malco,  its  successors  or assigns,
     without further notice, to declare this Agreement and privilege  terminated

                                             PAGE 12 OF MASTER LICENSE AGREEMENT
<PAGE>
     and resume possession of the premises from Licensee,  and remove Licensee's
     goods and equipment  (including  software and systems) from the premises or
     alternatively  to enjoy and utilize any other remedy afforded by Subsection
     8.2(h).

24.  EARLY TERMINATION. Anything to the contrary notwithstanding,  each party is
     granted and shall have the  absolute and  uncontrolled  right and option to
     terminate this license agreement at any time upon giving one hundred twenty
     (120) days'  written  notice to the other party of  intention to do so, and
     upon the lapse of the one hundred  twenty (120) days exercise of such right
     by either party,  this license  agreement and all licenses  hereunder shall
     cease and terminate on the one hundred  twentieth  (120th) day as fully and
     to all intents and purposes as if that were the date  originally  fixed for
     termination.

25.  SOLE AGREEMENT.  Other than Malco's separate  agreements with its landlords
     and exhibitor(s), this Agreement constitutes the only agreement between the
     parties  hereto with  reference to the conduct of the business  hereinabove
     set forth for the term therein stated,  and no modification  nor any waiver
     of any  provision  hereof  shall be binding  upon either party or signatory
     unless it shall be in  writing  and signed by all  parties,  except for the
     later written  designations  by Malco for added  locations  subject to this
     Agreement.

26.  NO  THIRD  PARTY  BENEFICIARY.  Nothing  in this  agreement,  expressed  or
     implied, is intended or shall be construed to confer upon any person, firm,
     corporation,   or  entity,  other  than  the  parties,  Malco  and  Malco's
     affiliate(s),  any right,  power, remedy or claim under or by any reason of
     this  Agreement,  this Agreement  being intended for the sole and exclusive
     benefit of the parties, Malco and Malco's affiliate(s).

27.  PRIOR  AGREEMENTS  SUPERSEDED.  DTR and Licensee have entered into a Broker
     Agreement  dated of even  date  herewith,  and with  that  exception,  this
     Agreement  constitutes the entire  agreement of the parties with respect to
     the subject matter hereof, and supersedes any and all prior  understandings
     or oral or  written  agreements  between  the  parties  (including  without
     limitation,  inventors, developers, investors, co-owners or any combination
     of the foregoing)  respecting  such subject matter.  As a further  material
     inducement for DTR to enter into and perform this Master License Agreement,
     DTR also  relies  upon the  foregoing  as well as  Licensee's  warranty  of
     ownership and authority.

28.  SURVIVAL. The warranties, representations,  covenants and agreements of the
     parties  set  forth  herein  shall  survive  The  Execution  Date  and  any
     termination of this Agreement.

29.  NON-WAIVER.  No  failure  to  exercise,  no  indulgence  and  no  delay  in
     exercising,  on  the  part  of  Malco  of any  right,  power  or  privilege
     hereunder,  shall  operate  as a waiver  thereof,  nor shall any  single or
     partial  exercise  of any  right,  power,  remedy  or  privilege  hereunder
     preclude any other or further exercise thereof or the exercise of any party
     or  Malco's  affiliate(s)  of any other or  later-arising  rights,  powers,
     privileges, remedies or entitlements hereunder.

30.  ATTORNEY'S  FEES.  If either  Party finds it  necessary  to initiate  legal
     action  or  proceedings  for  the  enforcement  or  interpretation  of this

                                             PAGE 13 OF MASTER LICENSE AGREEMENT
<PAGE>
     Agreement,  then the  prevailing  party shall be  entitled,  in addition to
     other  remedies   authorized  by  applicable  law,  to  recover  reasonable
     attorney's fees and expenses incurred in such matter.

31.  NOTICES. Any notice, communication,  request, reply or advice, (hereinafter
     severally and  collectively,  for  convenience  called  "notice"),  in this
     Agreement  provided or permitted to be given,  made or accepted by Malco or
     either  party  to the  other  party  must be in  writing  and  may,  unless
     otherwise in this instrument  expressly provided,  be given or be served by
     advance written notice to the addressee, delivered by hand, by certified U.
     S. Mail return receipt requested,  by recognized  overnight courier service
     or  recognized  local  courier  service,  by  telecopy  or its  equivalent,
     addressed  to Licensee at their last known home  address  and, if to either
     Malco or DTR, at its principal office in Shelby County, Tennessee or to the
     residence of its President, Chief Executive or its Vice-President.

32.  FURTHER INSTRUMENTS AND ACTIONS. Malco and each party agrees to do all acts
     or deliver such additional  documents after signing hereof as are necessary
     to effectuate the intent of the transaction contemplated herein as Malco or
     a party may reasonably  request from time to time for the  effectuation and
     implementation of their/its duties and obligations hereunder.

33.  SEVERABILITY. If any term, covenant or condition of this Agreement shall to
     any extent be invalid or  unenforceable,  the  remainder of this  Agreement
     shall  not be  affected  thereby  and  each  remaining  term,  covenant  or
     condition  of this  Agreement  shall be valid and  enforced  to the fullest
     extent permitted by law.

34.  BINDING  EFFECT.  This  Agreement  shall be  binding  upon and inure to the
     benefit  of  Malco  and  the  parties,  and  their  respective  affiliates,
     successors and assigns, heirs and personal representatives.  DTR may assign
     its rights hereunder to any corporation or other legal entity controlled by
     it and upon the  assignment,  the assignee  shall be deemed to have assumed
     all liabilities  and  obligations of the DTR under this  Agreement,  but in
     addition, neither DTR nor any exhibitor hereunder shall be relieved from of
     their/its  liabilities or obligations  under this  Agreement.  Licensee may
     assign this Agreement only as permitted in Section 1.1 above.

35.  CONSTRUCTION OF AGREEMENT.  In construing this Agreement,  all headings and
     titles  are for the  convenience  of the  parties  only  and  shall  not be
     considered a part of this Agreement.  Whenever required by the context, the
     singular shall include the plural and the masculine or neuter shall include
     the  feminine  and  neuter  and vice  versa.  This  Agreement  shall not be
     construed as if prepared by one of the parties, but rather according to its
     fair meaning as a whole,  as if both parties had prepared it. The terms and
     provisions of this Agreement represent the results of negotiations  between
     the  parties,  each of which  has been  represented  by  legal  counsel  of
     their/its  selection,  and  neither  of which  has  acted  under  duress or
     compulsion,  whether legal, economic or otherwise.  Consequently, the terms
     and  provisions of this  Agreement  shall be  interpreted  and construed in
     accordance with their usual and customary meanings,  and the parties hereby
     expressly  waive and disclaim in  connection  with the  interpretation  and
     construction  of this  Agreement  any  rule of law or  procedure  requiring
     otherwise,  including,  without  limitation,  any rule of law to the effect

                                             PAGE 14 OF MASTER LICENSE AGREEMENT
<PAGE>
     that  ambiguous  or  conflicting  terms  or  provisions  contained  in this
     Agreement  shall be  interpreted  or  construed  against  the  party  whose
     attorney prepared this Agreement or any earlier draft of this Agreement.

36.  SUBORDINATION.  Upon written  request by DTR or the  applicable  exhibitor,
     Licensee  shall  execute  and  deliver  an  agreement   subordinating  this
     Agreement  to any first  mortgage  (first  lien deed of trust) or  security
     agreement  upon  the  Premises  of any of such  exhibitor's  lenders.  Such
     subordination shall be upon the express condition that the validity of this
     Agreement shall be recognized by the mortgagee,  and that,  notwithstanding
     any default by Malco or its  affiliate(s)  with respect to said mortgage or
     any foreclosure thereof, Licensee's possession and rights of use under this
     License and to the Demised  Premises  shall not be disturbed by such lender
     or purchaser unless and until Licensee shall  materially  breach any of the
     provisions  hereof in this License or Licensee's  license for use hereunder
     shall  have been  terminated  in  accordance  with the  provisions  of this
     License.

37.  TERM. The term of each License  hereunder is for a period of two (2) years,
     commencing on the date of each License ("the License  Commencement  Date").
     Each License shall be  automatically  renewed for an additional term of six
     (6) months  unless  either  Licensee or DTR gives  ninety (90) day advance,
     written  notice prior to the end of the original  term and the renewal term
     of their/its intention not to renew.

38.  DELIVERY AT END OF LICENSE  AGREEMENT.  The said Licensee agrees to deliver
     up to the said exhibitor all of the said premises at the expiration of this
     Master License Agreement or termination hereof in good order and condition,
     and  make  good all  damages  to said  premises,  ordinary  wear and  tear,
     casualty and damage by the elements excepted.

39.  ADVERTISING. Unless otherwise agreed in this License Agreement the Licensee
     shall  not be  permitted  to affix or  attach,  or cause to be  affixed  or
     attached,  any signs on the premises  herewith  License  Agreement  without
     consent in writing from the Lessor.

     Upon termination of this License Agreement, Licensee shall remove any sign,
     advertisement  or notice  painted on or affixed  to the  License  Agreement
     premises  and  restore  the place it  occupied  in the  condition  which it
     existed as of the date of this License Agreement.

40.  WAIVER OF  SUBROGATION.  DTR, Malco and Licensee  hereby waive any right of
     subrogation  which they may have  against  the other for any losses paid to
     them on insurance  policy or policies carried on the property to the extent
     permitted by the terms of such policy or policies.

41.  MISCELLANEOUS.

     A.   The  reference  in this  Master  License  Agreement  to an  "Annex" or
          attachment  is in  each  case  to an  annex  or  attachment  which  is
          incorporated  into this Master  License  Agreement  as fully as if set
          forth herein verbatim.

                                             PAGE 15 OF MASTER LICENSE AGREEMENT
<PAGE>
     B.   Titles and  headings  to  sections  or  paragraphs  hereof are for the
          purpose  of  reference  only,  and  shall in no way  limit,  define or
          otherwise affect the provisions hereof.

     C.   If any term,  covenant or  condition  of this  Agreement  shall to any
          extent be invalid or  unenforceable,  the remainder of this  Agreement
          shall not be affected  thereby and each  remaining  term,  covenant or
          condition of this Agreement shall be valid and enforced to the fullest
          extent permitted by law.

     D.   As used herein, the phrase "gross revenues" shall include all revenues
          on an accrual basis derived from displays of  advertising  in Malco or
          other  locations  that are received or  receivable  by Licensee,  less
          sales taxes payable and also includes, without limitation, the imputed
          fair value of any barter  that  arises or in the  future  arises  from
          Licensee advertising in any Malco or other location. A separate agreed
          schedule,   signed  by  the  parties,  will  specify  the  amounts  or
          revenue-share  due to Malco for products and other services sold at or
          arising from Malco locations.

     E.   Terms  used  herein  applicable  to  security   agreements,   security
          interests,   liens  and  the  like  shall   have  the  same   meanings
          respectively  ascribed  to  them  by the  uniform  commercial  code as
          adopted in the State of  Tennessee,  unless such term (s) is otherwise
          expressly defined in this Agreement.

     F.   The word "location" and the phrase "DTR location," as used herein,  is
          meant broadly to include any Malco movie  theater and bowling  center,
          wherever  located,  that has been  designated  by DTR as  licensed  to
          Licensee,  unless the context manifestly indicates a different meaning
          for the word "location."

     G.   The  word  and  concept  "Kiosk-based"  and the  phrases  products  or
          e-commerce  or  Touchscreen,  CDS,  separately  or  together  are used
          interchangeably in this Master License Agreement to refer to a variety
          of products  sold at Malco and other  services and product of Licensee
          [see also Kiosk-based product].

     H.   The words "advertising" and "wall display" may be used interchangeably
          in this Agreement, unless contrary to the expressed terms.

     I.   The word  "shopping," as used herein,  is meant to include  Licensee's
          network  operation,  interactive  touch-screen  access  or  e-commerce
          shopping or any combination of them.

     J.   The phrase "Malco  customers" is meant to include  patrons and guests,
          whether paying or non-paying or accompanying a customer.

     K.   The word "affiliate," as used herein, is intended to mean broadly each
          business  or  investment  affiliate  of David  V.  Lott  ("Lott")  and
          Showintell  Networks,  Inc.  ("Showintell") or either of them, whether
          presently  existing  or  hereafter  created,  engaged in  advertising,

                                             PAGE 16 OF MASTER LICENSE AGREEMENT
<PAGE>
          displaying or  exhibiting  on plasma  screens in theaters and includes
          each such entity in which either Lott or  Showintell  possesses one or
          more of the following: (a) an ownership interest or creditor interest,
          (b)  significant  participation  in the control of such entity,  (c) a
          directorship (or board  membership) or membership in senior management
          or (d) a substantial influence.

42.  COLLATERAL.  Malco may file this Agreement or a financing  statement  UCC-1
     with public records to perfect the security  interests  granted to Malco by
     this Agreement in DTR Share, present and future, however arising, and Malco
     has and may  exercise  the rights,  powers and  remedies of the holder of a
     first priority  security  interest under the Tennessee  Uniform  Commercial
     Code as to the DTR share. Licensee authorizes and empowers DTR to execute a
     financing  statement  as  Licensee's  attorney  in  fact to  perfect  DTR's
     security interest granted by this instrument.

43.  COUNTERPARTS.   For  the   convenience  of  the  parties,   any  number  of
     counterparts  of this  Agreement  may be executed by any one or more of the
     parties hereto,  and each such executed  counterpart shall be, and shall be
     deemed to be, an original  instrument  and to have the forces and effect of
     an  original  as against  the  parties  signing  the  counterpart,  but all
     counterpart  shall  constitute,  and shall be deemed to constitute,  in the
     aggregate but one and the same instrument.

44.  FAXED  ORIGINALS.  Execution  of  this  document  may  be  accomplished  by
     facsimile  transmission  of signed  copies of this  Agreement  followed  by
     delivery of the original signed hard copies in the manner provided herein.

                                  [END OF PAGE]

                                             PAGE 17 OF MASTER LICENSE AGREEMENT
<PAGE>
IN WITNESS WHEREOF,  each party has caused this instrument to be executed by and
through  its duly  authorized  officers  or owner the day and year  first  above
written.  Malco has caused this instrument to be executed as of the day and year
first above written to evidence its  obligations and  undertakings  set forth in
this  instrument,  as  well  as its  express  consent  to the  contents  of this
instrument.

                                        DAVID V. LOTT

                                        ----------------------------------------
                                        David V. Lott

                                        SHOWINTELL NETWORKS, INC.

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

                                        DIGITAL THEATRES RESOURCES CO.
                                        A Tennessee General Partnership

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

                                        MALCO THEATRES, INC.
                                        An Arkansas Corporation

                                        By:
                                           -------------------------------------
                                           Robert T. Levy
                                           Vice President

                                             PAGE 18 OF MASTER LICENSE AGREEMENT

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