Document:

Exhibit 10.1 

AMENDED AND
RESTATED
SEVERANCE BENEFITS AGREEMENT  

        THIS
AGREEMENT, entered into as of the ___ day of ____________, ___ by and between
HARLEY-DAVIDSON, INC. OR SUBSIDIARY COMPANY, a ___________ corporation
(“Employer”), and NAME OF EXECUTIVE (“Executive”). 

        WHEREAS,
Employer desires to continue to attract and retain skilled and dedicated management
employees; 

        WHEREAS,
Executive is currently employed by Employer in an executive capacity and has unique skills
and abilities that are of benefit to Employer; and 

        WHEREAS,
Employer desires to provide Executive certain assurances regarding severance pay and other
benefits in the event of a Covered Termination (as defined below); and 

        WHEREAS,
to comply with Internal Revenue Code Section 409A and to make certain other clarifying
changes, Executive and Employer desire to amend and restate the Severance Benefits
Agreement currently in effect between Executive and Employer; 

        NOW,
THEREFORE, in consideration of the premises and other good and valuable consideration, the
parties hereby agree as follows: 

        1.    Not
an Employment Agreement. This Agreement is not an employment                agreement
and shall not change the employment relationship between Employer and
               Executive. Except as expressly provided herein, this Agreement shall not
amend                or alter the terms of, or limit the benefits to Executive under, any
existing or                future employment, transition, change of control or other
agreement between                Executive and Employer; provided that any predecessor
Severance Benefits                Agreement between Executive and Employer is superseded.
This Agreement shall not                be amended by any such future agreement unless
such future agreement                specifically provides that the terms of this
Agreement shall be amended.                Anything in this Agreement to the contrary
notwithstanding and subject to any                existing or future employment or other
agreement between Employer and Executive,                (a) Executive may terminate
Executive’s employment with Employer at any                time and for any reason
and (b) Employer may terminate Executive’s                employment with Employer
at any time and for any reason.  

        2.
    Definitions.  

	 	
a.    Affiliate.
“Affiliate” shall mean, except as set forth in                Section 11, any
parent, subsidiary or other affiliate of Employer.  

	 	
b.    Base
Salary Amount. “Base Salary Amount” shall mean (1) the
               amount of Executive’s average monthly base salary during either (i)
if                Executive has been employed by Employer for twelve (12) or more
consecutive                months immediately prior to the Termination Date, the twelve
(12) consecutive                months immediately prior to the Termination Date or (ii)
if Executive has been                employed by Employer for less than twelve (12)
consecutive months immediately                prior to the Termination Date, the
consecutive months of Executive’s                employment with Employer
immediately prior to the Termination Date, multiplied                by (2) either (i) if
Executive has been employed by Employer for twenty four                (24) or more
consecutive months immediately prior to the Termination Date,                twelve (12)
or (ii) if Executive has been employed by Employer for less than                twenty
four (24) consecutive months immediately prior to the Termination Date,
               six (6).  

	 	
c.    Benefit
Period. “Benefit Period” shall mean (1) if Executive                has
been employed by Employer for twenty four (24) or more consecutive months
               immediately prior to the Termination Date, the twelve (12) consecutive
months                immediately following the Termination Date or (2) if Executive has
been employed                by Employer for less than twenty four (24) consecutive
months immediately prior                to the Termination Date, the six (6) consecutive
months immediately following                the Termination Date.  

	 	
d.    Cause. “Cause” shall
mean:  

	 	        (1)                   the
conviction of Executive of a felony or a crime involving moral turpitude,
               theft or fraud; or  

	 	        (2)                   Executive’s
refusal to perform duties as directed in good faith by                Executive’s
supervisor, which failure is not cured within 10 days after                written notice
thereof from Employer to Executive; or  

	 	        (3)                   Executive’s
engaging in sexual harassment or any act involving theft or                fraud with
respect to Employer or any of its parents, subsidiaries or other
               affiliates, as determined by the Chief Executive Officer of Employer; or  

	 	        (4)                   Executive’s
reckless conduct or willful misconduct which results in                substantial harm
(in relation to Executive’s annual compensation), as                determined by
the Chief Executive Office of Employer, whether financial,                reputational or
otherwise, to Employer or any of its parents, subsidiaries or                other
affiliates.  

	 	
e.    Covered
Termination. “Covered Termination” shall mean                Employer’s
involuntary termination of Executive’s employment with                Employer other
than (1) for Cause, or (2) in connection with the death or                Disability of
Executive. Notwithstanding the foregoing, the transfer of                Executive’s
employment to any Affiliate shall not be a Covered Termination.  

	 	
f.    Disability.
“Disability” shall have the meaning assigned to it                in the
long-term disability insurance policy then provided or made available to
               Executive by or through Employer. If there is then no such policy or such
term                is not defined therein, then “Disability” shall mean
Executive’s                incapacity due to physical or mental illness causing
Executive to be absent from                the full-time performance of Executive’s
duties with Employer for sixty                (60) consecutive days.  

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g.    Stock
Plans. “Stock Plans” shall mean the Harley-Davidson, Inc.
               2004 Incentive Stock Plan, the Harley-Davidson, Inc. 1995 Stock Option
Plan, and                any other existing or future plans for the issuance of stock
options, stock                appreciation rights, restricted stock or restricted stock
units.  

	 	
h.    Termination
Date. “Termination Date” shall mean the date on                which a
Covered Termination is effective, which date shall not be less than
               twenty-five (25) days after the date the Termination Notice is delivered
to                Executive.  

	 	
i.    Termination
Notice Date. “Termination Notice Date” shall mean                the date
on which written notice is delivered by Employer to Executive stating                that
Executive’s employment is being terminated pursuant to a Covered
               Termination and setting forth the Termination Date.  

        3.    Severance
Benefits. In the event of a Covered Termination and in lieu of                any
benefits or other amounts that would otherwise be payable by Employer to
               Executive as a result of, arising out of or following such Covered
Termination,                Executive shall be entitled to all of the following:  

	 	
a.                   a
lump sum payment, payable within thirty (30) days following the Termination
               Date, equal to the Base Salary Amount.  

	 	
b.                   during
the Benefit Period or the period beginning on the Termination Date and
               ending on the date Executive becomes employed on a substantially full-time
               basis, whichever is shorter, Employer shall make available to Executive
coverage                under Employer’s medical, dental and life insurance (but not
short or long                term disability) plans on the same terms as such plans are
made available to                Employer’s salaried employees generally; provided
that any period of                continued medical and dental coverage pursuant to this
provision shall be                credited against (reduce) the maximum period of
continuation coverage that                Executive (or any other qualified beneficiary
with respect to Executive) is                permitted to elect in accordance with COBRA,
or any successor provision thereto;  

	 	
c.                   during
the Benefit Period or the period beginning on the Termination Date and
               ending on the date Executive becomes employed on a substantially full-time
               basis, whichever is shorter, Employer shall maintain any life insurance on
               Executive’s life owned by Employer;  

	 	
d.                   any
other benefits payable pursuant to the terms of the Stock Plans (and
               applicable agreements thereunder) and any incentive compensation
(including                STIP), pension, 401(k), retirement, savings or deferred
compensation plans                earned up to Termination Date.  

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e.                   reimbursement
of any expenses incurred by Executive in the ordinary course of                employment
prior to the Termination Date consistent with Employer’s then
               existing expense reimbursement policy.  

	 	
Notwithstanding
Sections 3b and c above, with respect to the first six months following Executive’s
“separation from service” (as defined in Section 11) during which Executive’s
life insurance coverage is extended or potentially extended in accordance with Section 3b
and 3c above, if the premiums paid by Employer for coverage during such period under
Section 3b, and the portion of the premiums paid by Employer under Section 3c that are
attributable to current life insurance protection (as determined in accordance with
Internal Revenue Service requirements) during such period, in the aggregate (the “Life
Insurance Coverage Value”), exceeds the amount of the “limited payments” exemption
set forth in Section 1.409A-1(b)(9)(v)(B) of the Income Tax Regulations (or any successor
thereto), then, to the extent required in order to comply with Internal Revenue Code
Section 409A, Executive, in advance, shall pay to Employer an amount equal to the Life
Insurance Coverage Value, and promptly following the six month anniversary of Executive’s
“separation from service”, Employer shall make a cash payment to Executive
equal to the amount paid to Employer by Executive.  

        4.    No
Mitigation. Executive shall not be required to mitigate the amount of           any
payment or benefit provided for in Section 3 hereof by seeking other           employment
or otherwise, nor will the amount provided for in Section 3(a) hereof           be
reduced by any compensation earned by Executive as a result of employment by
          another employer after the Termination Date.  

        5.    Exclusivity.  

	 	        a.              The
benefits provided for herein are intended to constitute a minimum, but
          noncumulative, benefit package for Executive in the event of a Covered
          Termination. If Executive has or claims to have any Claims (as defined below),
          Executive may elect to assert such Claims. If, however, Executive does formally
          assert one or more Claims in a writing submitted to Employer, or an appropriate
          body to determine such Claims, for the legal enforcement of such Claims, such
          writing shall constitute an irrevocable waiver and disclaimer of
          Executive’s benefits and rights under this Agreement.  

	 	        b.              As
a condition of receiving the benefits provided for herein, Executive shall be
          required to execute, prior to receiving any benefits hereunder, a release in a
          form reasonably satisfactory to Employer, of any and all claims that Executive
          has or may have against Employer or an Affiliate arising out of Executive’s
          employment or termination of Executive’s employment (the           “Claims”),
including but not limited to any and all claims arising out           of contract
(written, oral, or implied in law or in fact), tort (including           negligent and
intentional acts), or state, federal or local law (including           discrimination on
any basis whatsoever). In addition, Executive shall be           required to execute,
prior to receiving any benefits hereunder, in a form           reasonably satisfactory to
Employer: a reaffirmation of Executive’s           confidentiality agreement; an
agreement regarding non-solicitation of other           employees; and a non-compete
agreement effective during the Benefit Period.  

-4- 

	 	        c.              If
Executive has received benefits under this Agreement for a Covered           Termination
and thereafter asserts any Claims, Executive shall, notwithstanding           any other
agreement to the contrary, return to Employer all benefits received           hereunder
as a condition of being allowed to assert any such Claims. If for any           reason
Executive cannot legally be compelled to return such benefits, Employer           shall
be given, to the extent allowed by law, credit for all amounts received by
          Executive under this Agreement against any other amounts otherwise due to
          Executive arising out of any such Claims. Notwithstanding the foregoing, this
          Section 5(c) shall not be construed to limit or otherwise modify the terms of
          any release executed by Executive pursuant to Section 5(b) hereof or otherwise.  

        6.    Other
Termination. In the event Executive’s employment with Employer
          terminates other than pursuant to a Covered Termination, including without
          limitation, a termination for Cause, termination by reason of Executive’s
          death, Disability or retirement or a voluntary termination by Executive,
          Executive shall be entitled to no benefits or rights under this Agreement.
          Notwithstanding anything herein to the contrary, an otherwise involuntary
          termination of Executive’s employment will not be treated as a voluntary
          termination or as a voluntary retirement solely because Executive’s
          termination is characterized as a voluntary resignation or retirement in
          connection with any public announcement concerning Executive’s departure
or           because the Executive receives retirement benefits.  

        7.    Amendment,
Termination and Assignment. This Agreement may be amended,           terminated or
superseded only by a written instrument signed by Executive and           Employer. This
Agreement may not be assigned by Executive. Notwithstanding           anything in this
Agreement to the contrary, Employer may unilaterally amend this           Agreement to
make changes that Employer reasonably determines are necessary or           appropriate
for purposes of causing this Agreement to comply with the           requirements of
Section 409A of the Internal Revenue Code and regulations           proposed or
promulgated thereunder, so long as Employer makes the same changes           to
corresponding agreements to which other Employer executives are parties.  

        8.    Transfer
of Employment. If Executive’s employment is transferred to           any
Affiliate, such Affiliate shall assume Employer’s obligations hereunder
          and following such transfer such Affiliate shall be deemed the           “Employer” for
purposes of this Agreement.  

        9.    Headings. Headings
used herein are for convenience only and shall not           constitute a part of or
affect the meaning or interpretation of this Agreement.  

        10.    Governing
Law; Venue. This Agreement shall be deemed to have been made           and executed
in the State of Wisconsin and the validity, interpretation and           enforcement
hereof shall be governed by the internal laws of the State of           Wisconsin. In the
event of any dispute arising from or in connection with this           Agreement,
Executive consents and agrees to in personam          jurisdiction
and to venue exclusively in either the Circuit Court for Milwaukee           County,
Wisconsin, or the United States District Court for the Eastern District           of
Wisconsin, located in Milwaukee, Wisconsin.  

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        11.    Section
409A Compliance. 

        a.                 The
Agreement is intended to satisfy the requirements of Internal Revenue Code
          Section 409A or be exempt from those requirements. In particular, (1) the lump
          sum severance benefit in Section 3a is intended to constitute a “short-term
          deferral” that is exempt from Section 409A in accordance with Section
          1.409A-1(b)(4) of the Income Tax Regulations (or any successor thereto), and
(2)           the medical and dental continuation under Section 3b is intended to be
exempt           from Section 409A in accordance with Section 1.409A-1(b)(9)(v)(B) of the
Income           Tax Regulations (or any successor thereto). In the event that a payment
or           benefit that is intended to be exempt from Internal Revenue Code Section
409A is           determined to be subject to Section 409A, any payment that would
otherwise be           made on a date prior to six months following Executive’s
“separation           from service” instead will be made on the first business
day of the month           following the month in which occurs the six month anniversary
of           Executive’s “separation from service”.  

        b.                 For
purposes of this Agreement, Executive will incur a “separation from           service” on
the date on which Executive separates from service (within the           meaning of Code
Section 409A) from Employer and its affiliates. A           “separation from service” occurs
when Employer and Executive           reasonably anticipate that no further services will
be performed by Executive           for Employer and its affiliates after that date or
that the level of bona           fide services Executive will perform after such
date as an employee of           Employer or its affiliates will permanently decrease to
no more than 20% of the           average level of bona fide services performed by
Executive (whether as an           employee or independent contractor) for Employer and
its affiliates over the           immediately preceding 36-month period (or such lesser
period of services). An           Executive is not considered to have incurred a
Separation from Service if           Executive is absent from active employment due to
military leave, sick leave or           other bona fide reason if the period of such
leave does not exceed the greater           of (i) six months, or (ii) the period during
which Executive’s right to           reemployment by Employer or its affiliates is
provided either by statute or by           contract; provided that if the leave of
absence is due to a medically           determinable physical or mental impairment that
can be expected to result in           death or last for a continuous period of not less
than six months, where such           impairment causes Executive to be unable to perform
the duties of his or her           position of employment or any substantially similar
position of employment, the           leave may be extended for up to 29 months without
causing Executive to have           incurred a “separation from service”. When
used in connection with the           definition of “separation from service, the
term “affiliate”          means a corporation, trade or business that, with
Employer, constitutes a           controlled group of corporations or a group of trades
or businesses under common           control within the meaning of Internal Revenue Code
Section 414(b) and (c);           provided that Internal Revenue Code Section 414(b) and
(c) shall be applied by           substituting “at least fifty percent (50%)” for
“at least eighty           percent (80%)” each place it appears therein.  

-6- 

        c.                 Any
amount the payment of which is deferred for six (6) months following           Executive’s
“separation from service” to comply with Internal           Revenue Code
Section 409A shall, when paid, include interest, calculated at the           reference
rate or the prime rate, as the case may be, of US Bank Milwaukee,           National
Association, Milwaukee, Wisconsin as in effect from time to time during           the
period beginning on the date on which the amount would otherwise have been           paid
to the date on which payment is actually made; provided that with respect           to
the Life Insurance Coverage Value, the interest period will begin on the date
          on which Executive pays the Life Insurance Coverage Value to Employer.  

        IN
WITNESS WHEREOF, the parties have executed this Agreement at Milwaukee, Wisconsin as of
the date first above written. 

	EXECUTIVE:	EMPLOYER:
	
NAME OF EXECUTIVE	HARLEY-DAVIDSON, INC.
		OR SUBSIDIARY COMPANY
	

_______________________________________	By:_________________________________________
		Name:_______________________________________
		Title: ________________________________________

-7-Exhibit 10.2 

AMENDED AND RESTATED 

TRANSITION AGREEMENT 

        AGREEMENT
dated the _____day of _______, _______ between Harley-Davidson, Inc., a Wisconsin
corporation (the “Corporation”), and ______________ (the “Executive”).
Unless otherwise indicated, terms used herein and defined in Schedule A shall have
the meanings assigned to them in Schedule A. 

        WHEREAS,
the HDI Group desires to continue to attract and retain skilled and dedicated management
employees, consistent with achieving the best possible price for its stockholders in any
transition period or change in ownership and control of the Corporation; and 

        WHEREAS,
the Executive has specific duties and unique talents which are of benefit to the HDI Group
both presently and in any transition period; and 

        WHEREAS,
the HDI Group and the Executive desire that the Executive be free of any conflict of
interest with regard to the performance of the Executive’s duties in evaluating any
proposed change in ownership or control; and 

        WHEREAS,
to comply with Internal Revenue Code Section 409A and to make certain other changes, the
Executive and the Corporation desire to amend and restate the Transition Agreement
currently in effect between the Executive and the Corporation. 

        NOW,
THEREFORE, it is agreed as follows 

        1.          The
HDI Group currently employs the Executive as __________________________,
          Harley-Davidson, Inc. upon the terms and conditions currently reflected in the
          Executive’s personnel file or in various minutes of the Board.  

        2.          This
Agreement shall become effective on the date hereof and shall terminate on           the
second anniversary of the occurrence of a Change of Control Event; provided,
          however, that no benefits shall be payable or accrue pursuant to this Agreement
          prior to the occurrence of a Change of Control Event. This Agreement supersedes
          any predecessor Transition Agreement in effect between the Executive and the
          Corporation.  

        3.          During
the two year period following a Change of Control Event, so long as the
          Executive remains employed by the HDI Group, the Executive shall devote his or
          her full time, attention, and energies to the business of the HDI Group and
          shall not engage in any other business activity whether or not such business
          activity is pursued for gain, profit, or other pecuniary advantage; but this
          shall not be construed as preventing the Executive from (a) investing the
          Executive’s assets in such form or manner as will not materially affect
the           Executive’s ability to perform his or her duties and obligations to
the HDI           Group; or (b) continuing to serve as a director of any corporation
of which           he or she was a director immediately prior to the Change of Control
Event. The           Executive agrees that once a Change of Control Event occurs he or
she will not           voluntarily terminate his or her employment with the HDI Group
until ten days           after such Change of Control Event has occurred.  

        4.          The
HDI Group agrees that following a Change of Control Event no termination of           the
Executive’s employment with the HDI Group will be effective, unless it
          provides the Executive ten days prior written notice of such termination;
          provided, however, that the Executive shall provide the HDI Group Employer with
          ten days prior written notice of any termination by the Executive of the
          Executive’s employment with the HDI Group. The Executive may waive the
          notice requirement for the HDI Group.  

        5.          The
Executive recognizes and acknowledges that the list of the HDI Group’s
          customers, its product plans, forecasts and financial information, as well as
          other confidential information, as it may exist from time to time, is valuable,
          special, and unique asset of the HDI Group’s business. The Executive shall
          not, except for the benefit of HDI Group or as otherwise expressly authorized
by           the HDI Group, during or at any time within five (5) years after the
termination           of the Executive’s employment, disclose any such information
or any part           thereof to any person, firm, corporation, association, or other
entity, or use           such information or any part thereof for any reason or purpose
whatsoever, in           either case under any circumstances in which such disclosure or
use is           reasonably likely to affect adversely the interests of the HDI Group in
any           country of the world in which the HDI Group then distributes its products.
This           section is not intended to limit in any way the Executive’s
independent           obligation to preserve and not to misappropriate trade secrets of
the HDI Group.           In the event of a breach or threatened breach by the Executive
of the provisions           of this section, the HDI Group shall be entitled to an
injunction restraining           the Executive from disclosing or using, in whole or in
part, this information.           The HDI Group will be free to pursue any other remedies
as may in its discretion           be deemed appropriate under the circumstances.  

        6.          Upon
the happening of a Change of Control Event, the HDI Group agrees, while the
          Executive is employed hereunder, the Executive shall be compensated at a level
          that is at least comparable in the aggregate to the Executive’s highest
          level of Compensation in effect during the 180-day period immediately prior to
          the Change in Control Event and in a manner that satisfies each of the
          following:  

	 	        (a)          The
Executive shall receive an annual base salary in cash equivalent of not less
          than the Executive’s highest annual base salary as in effect during the
          180-day period immediately prior to the Change in Control Event, subject to any
          deferral election then in effect.  

	 	        (b)          The
Executive (and with respect to medical, dental and vision coverage, the
          Executive’s eligible dependents) shall be included in any and all employee
          benefit or fringe benefit plans, practices, policies or programs providing
          benefits for the HDI Group’s salaried employees in general, including but
          not limited to retirement, savings, group life insurance, hospitalization,
          medical, dental, profit sharing and 401(k) plans, and in all plans, practices,
          policies or programs providing additional benefits to executives of the HDI
          Group of comparable status and position to the Executive, including but not
          limited to deferred compensation, split-dollar life insurance, supplemental
          retirement, pension restoration, stock option, stock appreciation, stock bonus
          and similar or comparable programs; provided, however, that, in no event shall
          the aggregate level of benefits under such plans, practices, policies or
          programs in which the Executive is included be less than the aggregate level of
          benefits under plans, policies, practices and programs of the HDI Group in
which           the Executive was participating at any time during the 180-day period
          immediately prior to the Change in Control Event.  

2 

	 	        (c)          The
Executive shall annually be entitled to not less than the amount of paid
          vacation and not fewer than the number of paid holidays to which the Executive
          was entitled annually at any time during the 180-day period immediately prior
to           the Change in Control Event or such greater amount of paid vacation and
number           of paid holidays as may be made available annually to other executives
of the           HDI Group of comparable status and position to the Executive.  

	 	        (d)          The
Executive shall be included in any annual or long-term or other bonus plan           of
the HDI Group which shall satisfy the standards described below (any such           plan,
the “Bonus Plan”). Bonuses under any such Bonus Plan shall be           payable
with respect to achieving such financial or other goals reasonably           related to
the business of the HDI Group as the HDI Group shall establish (the           “Goals”),
all of which Goals shall be attainable, prior to the second           anniversary of the
date of the Change in Control Event, with approximately the           same degree of
probability as the goals under any bonus plan or plans of the HDI           Group as in
effect at any time during the 180-day period immediately prior to           the Change in
Control Event (whether one or more, the “Prior Bonus           Plan”). The
amount of the bonus (the “Bonus Amount”) that the           Executive is
eligible to earn under any such Bonus Plan shall be no less than           the amount of
the Executive’s target award provided in such Prior Bonus           Plan, and in the
event the Goals are not achieved such that the entire target           award is not
payable, any such Bonus Plan shall provide for a payment of a Bonus           Amount
equal to a portion of the target award reasonably related to that portion           of
the Goals which were achieved.  

        7.          Benefits
Following an Eligible Termination.  

        In
the event of Termination, the Executive shall be entitled to the following benefits: 

	 	        (a)              Lump
Sum Severance Payment.  

	 	        The
Executive shall be entitled to receive, in cash or cash equivalent on the first business
day of the month following the month in which occurs the six month anniversary of the date
of Termination, a lump-sum payment equal to the product of three multiplied by the sum of: 

	 	        (i)
               the Executive’s highest annual rate of salary during the five year
period                preceding the Executive’s termination of employment with the
HDI Group;  

	 	        (ii)
               the higher of (A) the Executive’s bonus opportunity (at target) for
the                year in which occurs the Change in Control Event, or (B) the highest
annual                bonus paid to or accrued for the benefit of the Executive during
the five year                period immediately preceding the Executive’s
termination of employment with                the HDI Group under any bonus plan,
program, or arrangement of the HDI Group                which the HDI Group Employer
maintains or has adopted; and  

3 

	 	        (iii)
               the product of four times the last quarterly payment, prior to the Change
of                Control Event, paid to the Executive by the HDI Group, to the extent
such                payment was paid by the HDI Group in lieu of providing the Executive
with                various fringe benefits (the “Perquisite Payment”).  

	 	        (b)
               Payment in Lieu of Post-Retirement Life Insurance.  

	 	        In
addition, if the Executive has attained age 55 and completed at least five years of
service with the HDI Group prior to the date of Termination, the Executive shall receive
an additional amount, in lieu of any post-retirement life insurance, equal to one times
the Executive’s annual base salary, at his or her then current rate (the
“Retiree Insurance Payment”), plus an additional amount such that the net amount
retained by the Executive, after deduction for federal and state income taxes and FICA and
Medicare employment taxes on the Retiree Insurance Payment, and any federal and state
income taxes and FICA and Medicare employment taxes on the additional payment, shall equal
the Retiree Insurance Payment. For purposes of determining the amount of the additional
payment, the Executive shall be deemed to pay federal and state income taxes at the
highest marginal rate of federal and state income taxation in the calendar year in which
the additional payment is to be made. The payment in lieu of post-retirement life
insurance shall not duplicate any other program of the HDI Group under which the Executive
may be entitled to a payment in lieu of post-retirement life insurance The payment shall
be made to the Executive in cash or cash equivalent on the first business day of the month
following the month in which occurs the six month anniversary of the date of Termination. 

	 	        (c)
          Vesting of Certain Benefits.  

	 	        At
the time the ten days written notice prior to Termination is given:  

	 	        (i)
               the Executive will be fully and immediately vested in his or her accrued
benefit                and any minimum years of service requirement for vesting will be
deemed to have                been satisfied under any qualified or nonqualified pension,
savings or other                retirement programs that are maintained by the HDI Group
and in which the                Executive was entitled to participate at the time of the
Change of Control Event                or at any time prior to Termination, with the
benefits under each such plan in                which the Executive participates being
distributed in accordance with the terms                of the relevant plan; provided,
however, that if the HDI Group reasonably                concludes that it is unable to
take the actions contemplated under this                subparagraph (i) with respect to
any plan that is intended to be qualified under                Code Section 401(a)
without violating the requirements of Code Section 401(a)(4)                or any
similar provision, then the Executive shall be entitled to receive, with
               respect to any such plan, a single sum payment equal to the account
balance that                the Executive forfeits under any defined contribution plan or
the actuarial                present value (determined using the interest and mortality
assumption in effect                under Code Section 417(e)(3), or any successor to
such provision, on the date of                Termination) of any accrued benefit that
the Executive forfeits under any                defined benefit plan as a result of not
being fully vested at the time of                Termination, with such payment to be
made on the first business day of the month                following the month in which
occurs the six month anniversary of the date of                Termination;  

4 

	 	        (ii)
               all restricted stock awards made to the Executive pursuant to the
               Harley-Davidson, Inc. 2004 Incentive Stock Plan, as amended, or made
pursuant to                any successor or predecessor plan, including, without
limitation, any plan of                the HDI Group that is in effect following the date
of the Change in Control                Event, will be fully and immediately vested to
the extent not already vested;  

	 	        (iii)
               all stock options granted pursuant to the Harley-Davidson, Inc. 2004
Incentive                Stock Plan, as amended, or granted pursuant to any successor or
predecessor                plan, including, without limitation, any plan of the HDI Group
that is in effect                following the date of the Change in Control Event, will
be fully vested and to                become immediately exercisable to the extent not
already vested and exercisable;  

	 	        (iv)
               all performance or other awards granted to the Executive pursuant to any
HDI                long-term incentive plan, or granted pursuant to any successor plan,
including,                without limitation, any plan of the HDI Group that is in effect
following the                date of the Change in Control Event, if not already vested
pursuant to the terms                of such long-term incentive plan, will be fully and
immediately vested, as if                all performance requirements have been satisfied
at the target level of                performance, and with payment to the Executive to
be made on the first business                day of the month following the month in
which occurs the six month anniversary                of the date of Termination; and  

	 	        (v)
               the HDI Group Employer will pay to the Executive, on the first business
day of                the month following the month in which occurs the six month
anniversary of the                date of Termination, an amount in respect of any bonus
under a short-term                incentive or other annual bonus plan of the HDI Group
equal to the higher of                (1) the Executive’s target bonus for the
fiscal year in which the date                of Termination falls, or (2) the bonus
the Executive received for the year                prior to the Change of Control Event,
which amount shall be pro-rated by a                fraction, the numerator of which is
the number of days elapsed in the HDI                Group’s fiscal year on the date
of Termination and the denominator of which                is 365.  

	 	        (d)
               Retirement Benefits.  

	 	        If
the Executive participates in the Retirement Annuity Plan for Salaried Employees of
Harley-Davidson (the “Salaried Retirement Plan”), then the Executive will be
entitled to additional benefits under (i) the Harley-Davidson, Inc. Pension Benefit
Restoration Plan (the “Benefit Restoration Plan”) and (ii) any other
supplemental retirement plan of the HDI Group in which the Executive participates or any
other agreement between the HDI Group and the Executive providing retirement benefits for
the Executive, or any successors to such plans, based on the most favorable benefit
provisions of such plans in effect at any time during the 180-day period prior to the date
of the Change of Control Event (the Pension Restoration Plan and such other programs are
collectively referred to as the “Retirement Plans”). The amount of such
additional pension benefits payable under each such Retirement Plan will be paid in
accordance with the terms of the applicable Retirement Plan and shall equal to the
difference between (i) the amount the Executive (or in the event of the Executive’s
death, the Executive’s surviving spouse or other beneficiary) is actually entitled to
receive upon retirement or termination under the terms and conditions of the applicable
Retirement Plan, and (ii) the amount the Executive (or such surviving spouse or
beneficiary) would have been entitled to receive under such terms and conditions if (A)
the Executive’s benefits under the applicable Retirement Plan had been fully vested
on the date of Termination, (B) the Executive had continued to work until the earlier of
the Executive’s 65th birthday or the third anniversary of the date of
Termination, and (C) the Executive had continued to receive compensation (both base salary
and, to the extent relevant under a Retirement Plan, bonuses or other compensation) during
the period of assumed employment at the highest rate and at the same time as such
compensation was paid to the Executive during the calendar year immediately preceding the
date on which occurs the Change of Control Event or the calendar year immediately
preceding the year in which occurs the date of Termination, whichever is more beneficial
to the Executive. 

5 

	 	        (e)
          Welfare Benefits.  

	 	        The
Executive will also receive: 

	 	        (i)
               until December 31 of the second calendar year following the calendar year
in                which occurs the date of Termination, use of professional outplacement
services                by qualified consultants retained at the expense of the HDI Group
Employer;                provided, however, that this subparagraph (i) shall not apply
following the                Executive’s death; and  

	 	        (ii)
               for three years from the date of Termination, continued coverage under HDI
Group                hospital, medical, dental, vision, life, disability insurance and
other welfare                benefit plans; provided, however, that any period of
continued hospital,                medical, dental or vision coverage pursuant to this
provision shall be credited                against (reduce) the maximum period of
continuation coverage that the Executive                (or any other qualified
beneficiary with respect to the Executive) is permitted                to elect in
accordance with COBRA, or any successor provision thereto; and                provided
further, that in the event of the Participant’s death either (A)
               after Termination or (B) prior to Termination but during the period
beginning on                the date of the Change in Control Event and ending on the
date that is thirty                (30) days after the first anniversary of the date of
the Change in Control                Event, then for a period of one year following the
Executive’s date of                death (but in no event more than three years
following the date of Termination),                the HDI Group shall provide continued
coverage under HDI Group hospital,                medical, dental and vision plans, but
all other welfare benefit plan coverage                shall cease. For purposes of this
subparagraph (ii), if hospital, medical,                dental, or vision coverage or
benefits are provided under a plan that is subject                to Code Section 105(h),
then, for any period of coverage following the end                of the COBRA
continuation period, the benefits payable under such plan shall                comply
with the requirements of Sections 1.409A-3(i)(1)(A) and (B) of the
               Treasury regulations and, if and to the extent necessary, the HDI Group
shall                amend such plan to comply therewith. Also, with respect to the first
six months                following the Termination during which the Executive’s
life insurance                coverage is extended under this subparagraph (ii), if the
premiums payable by                the HDI Group for group life insurance coverage during
such period and the                portion of the premiums payable during such period
that represents current life                insurance protection (as determined in
accordance with Internal Revenue Service                requirements) for the Executive
under a split-dollar insurance arrangement, in                the aggregate (the “Life
Insurance Coverage Value”) exceed the amount                of the “limited
payments” exemption set forth in Section                1.409A-1(b)(9)(v)(B) of the
Income Tax Regulations (or any successor thereto),                then, to the extent
required to comply with Internal Revenue Code Section 409A,                the Executive,
in advance, shall pay the HDI Group an amount equal to the Life                Insurance
Coverage Value, and promptly following the end of such six month                period,
the HDI Group Employer shall make a cash payment to the Executive equal                to
the amount paid to the HDI Group by the Executive. Thereafter such life
               coverage shall be provided at the expense of the HDI Group for the
remainder of                the period specified above.  

6 

	 	        (f)
               Payment in Lieu of Automobile, Association and Similar Fees.  

	 	        Unless
the Perquisite Payment was substituted for the following, the Executive shall also receive
a cash lump sum payment, calculated so as to equal the fair market value of three years of
benefits and paid to the Executive on the first business day of the month following the
month in which occurs the six month anniversary of the date of Termination, for: 

	 	        (i)
               automobiles and vehicles (or allowance in respect thereof) to which he was
               entitled either prior to the Change of Control Event or prior to
Termination;                and  

	 	        (ii)
               all amounts in respect of club, association or similar fees and dues
covering                the Executive to which he was entitled either prior to the Change
of Control                Event or prior to Termination.  

	 	        (g)
               Payment of Accrued Compensation.  

	 	        The
Executive shall also be entitled to all amounts earned or accrued through the date of
Termination but not paid as of such date, including base salary, reimbursement for
reasonable and necessary expenses incurred by the Executive on behalf of the HDI Group
during the period ending on the date of Termination, vacation pay, and sick leave
(collectively, “Accrued Compensation”). All Accrued Compensation shall be paid
to the Executive within 10 days following Termination. 

7 

	 	        (h)
          Continuation of Section 409A Elections.  

	 	        Notwithstanding
anything in subsections (a) through (g) to the contrary, Termination does not affect
deferral or distribution elections that the Executive may have in place with respect to
the payment of any benefits that are subject to Code Section 409A, and payment of such
amounts will be made pursuant to the terms of the applicable plan or program under which
the deferral election was made. 

	 	        (i)
          Death of the Executive.  

	 	        If
the Executive dies prior to the payments of amounts due to the Executive under this
Agreement (including, without limitation, in the case of Termination resulting from the
Executive’s death during the period beginning on the date of the Change in Control
Event and ending on the date that is thirty (30) days after the first anniversary of the
date of the Change in Control Event), then the amounts that otherwise would have been paid
to (or in the event of death, on behalf of) the Executive (including any Gross-Up Payment
and Tax Adjustment Amount under Section 8) will be paid, as soon as practicable following
the Executive’s death, to the Executive’s estate. 

	 	        (j)
          Agreement Not a Guarantee of Employment.  

	 	        Nothing
in this Agreement shall be construed to prevent the HDI Group Employer or the Board from
terminating the Executive’s employment under this Agreement either for Cause or
without Cause or to prevent the Executive from terminating the Executive’s employment
under this Agreement either for Good Reason or without Good Reason. A termination by the
HDI Group Employer for Cause or a termination by the Executive without Good Reason shall
relieve the HDI Group of its obligation to make any other payments under this Agreement,
except those that may be payable under then existing employee benefit programs. For the
Executive to be terminated for Cause, the existence of Cause must be determined by a
written resolution adopted by the affirmative vote of not less than two-thirds of all the
Continuing Directors, excluding for this purpose the Executive, or in the event there are
no Continuing Directors, by a unanimous vote of all the Directors, at a meeting duly
called and held for that purpose after reasonable notice to the Executive and opportunity
for the Executive and his or her counsel to be heard. Any such determination shall require
that the Continuing Directors (or the entire Board) find that in their reasonable good
faith judgment the conduct which was the basis for the hearing in fact occurred and is
sufficient to warrant a termination for Cause. 

        8.
          Protection Against Certain Taxes.  

	 	        (a)
          Taxes Attributable to Excess Parachute Payments.  

	 	        If
the Executive receives any payments under this Agreement or otherwise from the HDI Group
which are “excess parachute payments” taxed under Section 4999 of the Code,
the HDI Group Employer will pay, pursuant to subsection (b) below, an amount
sufficient to offset such tax effects. 

8 

	 	        (b)
               Calculation and Payment of Gross-Up Payment.  

	 	        (i)
               In the event that the Executive becomes entitled to payments in connection
with                a Change of Control Event under this Agreement or otherwise (“the
               Payments”), if any of the Payments will be subject to the tax imposed
by                Section 4999 of the Code (the “Excise Tax”) (or any
similar tax                that may hereafter be imposed), the HDI Group Employer shall
pay to the                Executive (or remit to the Internal Revenue Service on behalf
of the Executive)                an additional amount (the “Gross-Up Payment”)
such that the net amount                retained by the Executive, after deduction of any
Excise Tax on the Payments and                any federal and state income or other taxes
and Excise Tax upon Gross-Up                Payments provided for by this section, shall
be equal to the Payments.  

	 	        (ii)
               For purposes of determining whether any of the Payments will be subject to
the                Excise Tax and the amount of such Excise Tax, (A) any other
payments or                benefits received or to be received by the Executive in
connection with a Change                of Control Event shall be treated as “parachute
payments” within the                meaning of Section 280G(b)(2) of the Code,
and all “excess parachute                payments” within the meaning of Section 280G(b)(1)
shall be treated as                subject to the Excise Tax, unless in the opinion of
tax counsel selected by the                HDI Group’s independent auditors, and
acceptable to the Executive, such                other payments or benefits (in whole or
in part) do not constitute parachute                payments, or such “excess
parachute payments” (in whole or in part)                represent reasonable
compensation for services actually rendered within the                meaning of Section 280G(b)(4)
of the Code in excess of the base amount                within the meaning of Section 280G(b)(3)
of the Code, or are otherwise not                subject to the Excise Tax, (B) the
amount of the Payments which shall be                treated as subject to the Excise Tax
shall be equal to the lesser of                (1) the total amount of the Payments
or (2) the amount of excess                parachute payments within the meaning of
Section 280G(b)(1) of the Code                (after applying clause (A),
above), and (C) the value of any non-cash                benefits or any deferred
payment or benefit shall be determined by the HDI                Group’s independent
auditors in accordance with the principles of                Section 280G(b)(3) and
(4) of the Code.  

	 	        (iii)
               For purposes of determining the amount of the Gross-Up Payment, the
Executive                shall be deemed to pay federal and state income taxes at the
highest marginal                rate of federal and state income taxation in the calendar
year in which the                Gross-Up Payment is to be made.  

	 	        (iv)
               A Gross-Up Payment and Tax Adjustment Amount, if any, under subsection (v)
               shall be paid on the first day of the month following the month in which
occurs                the six month anniversary of the date of Termination.
Notwithstanding the                foregoing, if the Executive is required to remit the
Excise Tax under Code                Section 4999 to the Internal Revenue Service prior
to the first day of the month                following the month in which occurs the six
month anniversary of the date of                Termination, then upon written notice by
the Executive to the Corporation, the                HDI Group Employer will reimburse
the Executive for the Excise Tax so paid (and                for any additional taxes
paid by the Executive on the reimbursement), and such                reimbursement or
reimbursements will be credited against and reduce the Gross-Up                Payment
made on the first day of the month following the month in which occurs                the
six month anniversary of the date of Termination.  

9 

	 	        (c)
               Tax Adjustment Amount.  

	 	        In
addition to the Gross-Up Payments under this Section 8, the HDI Group Employer shall
pay to the Executive an additional amount (the “Tax Adjustment Amount”) in the
event any portion of the Payments are taxed (for state or federal income tax purposes) at
income tax rates higher than the highest marginal federal and state income tax rates
otherwise applicable to the Executive without considering the Payments (which shall not
include any addition to income tax or income tax rates in the nature of an additional
income tax or penalty for failure to comply with applicable requirements for taxation at a
lower rate (“Base Income Tax Rates”), such that the net amount retained by the
Executive, after deduction of state and federal income taxes at their respective actual
rates and any state and federal income taxes upon the Tax Adjustment Amount provided by
this subsection (c), shall be equal to the Payments less state and federal income
taxes thereon calculated at the Base Income Tax Rates. In the event any payments are
required under this subsection (c), they shall be included as “Payments”
under subsection (b) of this Section 8. 

	 	        (d)
                    Additional Excise Tax Assessments.  

	 	        (i)
                    The Executive shall notify the HDI Group in writing of any claim by
the Internal                     Revenue Service for an Excise Tax that, if successful,
would require the payment                     by the HDI Group of a Gross-Up Payment that
would be in addition to the                     Gross-Payment (if any) made to the
Executive pursuant to Section 8(b). Such                     notification shall be given
as soon as practicable, but no later than 10                     business days after the
Executive is informed in writing of such claim and shall                     apprise the
HDI Group of the nature of such claim and the date on which such
                    claim is requested to be paid. The Executive shall not pay such claim
prior to                     the expiration of the 30 day period following the date on
which the Executive                     gives such notice to the HDI Group (or such
shorter period ending on the date                     that any payment of taxes with
respect to such claim is due). If the HDI Group                     notifies the
Executive in writing prior to the expiration of such period that it
                    desires to contest such claim, the Executive shall:  

	 	        (A)
                    give the HDI Group any information reasonably requested by the HDI
Group                     relating to such claim;  

	 	        (B)
                    take such action in connection with contesting such claim as the HDI
Group shall                     reasonably request in writing from time to time,
including, without limitation,                     accepting legal representation with
respect to such claim by an attorney                     reasonably selected by the HDI
Group and reasonably satisfactory to the                     Executive;  

10 

	 	        (C)
                    cooperate with the HDI Group in good faith to effectively contest
such claim;                     and  

	 	        (D)
                    permit the HDI Group to participate in any proceedings related to
such claim;  

	 	
provided,
however, that the HDI Group shall bear and pay directly all costs and expenses (including,
but not limited to, additional interest and penalties and related legal, consulting or
other similar fees) incurred in connection with such contest and shall indemnify and hold
the Executive harmless, on an after-tax basis, for any Excise Tax or other tax (including
interest and penalties with respect thereto) imposed as a result of such representation
and payment of costs and expenses. 

	 	        (ii)
               The HDI Group shall control all proceedings taken in connection with such
               contest and, at its sole option, may pursue or forego any and all
administrative                appeals, proceedings, hearings and conferences with the
taxing authority in                respect of such claim and may, at its sole option,
either direct the Executive                to pay the tax claimed and sue for a refund or
contest the claim in any                permissible manner, or to pay the tax on the
Executive’s behalf directly to                the Internal Revenue Service and
direct the Executive to sue for a refund or                context the claim in any
permissible manner), and the Executive agrees to                prosecute such contest to
a determination before any administrative tribunal, in                a court of initial
jurisdiction and in one or more appellate courts, as the HDI                Group shall
determine; provided, however, that if the HDI Group directs the                Executive
to pay such claim and sue for a refund, the HDI Group shall                immediately
reimburse the Executive for the amount so paid, and shall indemnify                and
hold the Executive harmless, on an after-tax basis, from any Excise Tax or
               other tax (including interest and penalties with respect thereto) imposed
with                respect to such reimbursement or with respect to any imputed income
with respect                to such reimbursement (such additional payment to indemnify
and hold harmless                the Executive to be completed as soon as
administratively possible after the                date on which the Executive pays the
tax). Notwithstanding anything to the                contrary, to comply with Internal
Revenue Code Section 409A, the Executive must                timely submit the Executive’s
claim for reimbursement of the tax paid, so                that it can be reimbursed no
later than the end of the Executive’s taxable                year following the
taxable year in which the taxes that are the subject of the                Internal
Revenue Service’s claim are remitted to the Internal Revenue
               Service), and no reimbursement can be made after that time; and provided
               further, however, that if the Executive is required to extend the statute
of                limitations to enable the HDI Group to contest such claim, the
Executive may                limit this extension solely to such contested amount. The
HDI Group’s                control of the contest shall be limited to issues with
respect to which a                Gross-Up Payment would be payable hereunder and the
Executive shall be entitled                to settle or contest, as the case may be, any
other issue raised by the Internal                Revenue Service or any other taxing
authority. In addition, no position may be                taken nor any final resolution
be agreed to by the HDI Group without the                Executive’s consent if such
position or resolution could reasonably be                expected to adversely affect
the Executive (including any other tax position of                the Executive unrelated
to the matters covered hereby).  

11 

	 	        (iii)
               In the event that the HDI Group exhausts its remedies and the Executive
               thereafter is required to pay to the Internal Revenue Service an
additional                amount in respect of any Excise Tax (“Underpayment”),
the HDI Group                Employer shall make a supplemental payment to reimburse the
Executive for any                such Underpayment and to reimburse the Executive for any
federal and state                income taxes, Excise Tax or employment taxes incurred by
the Executive with                respect to the amount of any reimbursements under this
provision. Such                reimbursement shall be made as soon as practical after the
date on which the                Executive pays the tax and provides notice to the
Corporation of the payment of                such tax or taxes, but no later than the end
of the Executive’s taxable                year following the taxable year in which
the taxes are remitted. Alternatively,                the HDI Group Employer may remit
such additional taxes directly to the Internal                Revenue Service on the
Executive’s behalf.  

	 	        (iv)
               If, after the receipt by the Executive of an amount reimbursed by the HDI
Group                in connection with the contest of the Excise Tax claim, the
Executive becomes                entitled to receive any refund with respect to such
claim, the Executive shall                promptly pay to the HDI Group the amount of
such refund (together with any                interest paid or credited thereon after
taxes applicable thereto).  

        9.
               Any amount under Section 7 or Section 8 the payment of which is to be made
on                the first business day of the month following the month in which occurs
the six                month anniversary of the date of Termination, when paid, shall
include interest,                calculated at the reference rate or the prime rate, as
the case may be, of US                Bank Milwaukee, National Association, Milwaukee,
Wisconsin as in effect from                time to time during the period beginning on
the date ten days following the                Termination and ending on the date on
which payment is actually made; provided,                however, that with respect to
any life insurance reimbursement that the                Executive is entitled to
pursuant to Section 7(e), the interest period will                begin on the date on
which the Executive pays the Life Insurance Coverage Value                to the HDI
Group.  

        10.
               The Executive agrees that, during the term of his or her employment under
this                Agreement, he shall not, directly or indirectly, engage or
participate in any                business activity that is directly competitive with and
likely to have a                material adverse effect on the business of the HDI Group
without prior written                approval of the Board. In the event that, while
employed by the HDI Group, the                Executive engages in practices that are
directly competitive and that are likely                to have a material adverse effect
on the HDI Group and the Executive fails to                cease such competitive
practices within 30 days after written notice is received                from the Board,
then the Executive shall be treated for purposes of this                Agreement as
terminated for Cause as of such 30th day.  

        11.
               Any dispute or controversy arising under or in connection with this
Agreement                shall be settled exclusively by arbitration in Milwaukee,
Wisconsin or, at the                option of the Executive, in the county where the
Executive resides, in                accordance with the Rules of the American
Arbitration Association then in                effect; provided, however, that if the
Executive institutes an action relating                to this Agreement, then the
Executive may, at his or her option, bring such                action in a court of
competent jurisdiction. Judgment may be entered on the                arbitrator’s
award in any court having jurisdiction.  

12 

        12.
               The HDI Group shall pay or reimburse all costs and expenses, including
               attorneys’ fees and disbursements, of the HDI Group and, at least
monthly,                the Executive in connection with any legal services or
proceedings (including,                but not limited to, arbitration), whether or not
instituted by the HDI Group or                the Executive, relating to the
interpretation or enforcement of any provision of                this Agreement. The HDI
Group also agrees to pay prejudgment interest on any                money judgment
obtained by the Executive as a result of such proceedings,                calculated at
the reference rate or prime rate, as the case may be, of US Bank
               Milwaukee, National Association, Milwaukee, Wisconsin as in effect from
time to                time from the date that payment should have been made to the
Executive under                this Agreement. Notwithstanding anything to the contrary,
to comply with                Internal Revenue Code Section 409A, the Executive must
timely submit any such                cost of expense for reimbursement so that it can be
reimbursed no later than the                end of the calendar year following the
calendar year in which the expense was                incurred; no reimbursement can be
made after that time.  

        13.
               This Agreement shall be binding upon, inure to the benefit of and be
enforceable                by the HDI Group and the Executive and their respective heirs,
legal                representatives, successors and assigns. If the HDI Group or any
member of the                HDI Group shall be merged into or consolidated with another
entity, the                provisions of this Agreement shall be binding upon and inure
to the benefit of                the entity surviving such merger or resulting from such
consolidation. The HDI                Group will require any successor (whether direct or
indirect, by purchase,                merger, consolidation or otherwise) to all or
substantially all of the business                or assets of the HDI Group or any member
of the HDI Group, by agreement in form                and substance satisfactory to the
Executive, to expressly assume and agree to                perform this Agreement in the
same manner and to the same extent that the HDI                Group would be required to
perform it if no such succession had taken place. The                provisions of this
Section 12 shall continue to apply to each subsequent                employer of the
Executive hereunder in the event of any subsequent merger,                consolidation
or transfer of assets of such subsequent employer. From and after                the date
of any such purchase, merger, consolidation, transfer of assets or                other
transaction, the term HDI Group as used in this Agreement shall also
               include any such person or entity that is the successor or subsequent
employer                for purposes of this Section 13, or which otherwise becomes bound
by the terms                and provisions of this Agreement by operation of law.  

        14.
               The HDI Group Employer will indemnify the Executive against expenses
(including                attorney’s fees), amounts paid in settlement (whether with
or without court                approval), judgments and fines actually and reasonably
incurred by him in                connection with a threatened or actual action, suit or
proceeding if he acted in                good faith and in a manner he reasonably
believed to be in, or not opposed to,                the best interests of the HDI Group,
and with respect to any criminal action or                proceeding, if he had no
reasonable cause to believe that his or her conduct was                unlawful, (and the
HDI Group Employer will advance expenses for the Executive)                if he becomes
a party or is threatened, pending or completed action, suit or                proceeding,
whether civil, criminal, administrative or investigation (if not by                or in
the right of the HDI Group Employer) by reason of the fact that he is or
               was a director, officer, employee or agent of the HDI Group or is or was
serving                at the request of the HDI Group as a director, officer, employee
or agent or in                any other capacity or in another corporation, or a
partnership, joint venture,                trust or other enterprise, or by reason of any
action alleged to have been taken                or not taken by him while acting in any
such capacity, to the fullest extent                permitted by the HDI Group Employer’s
Articles of Incorporation and                By-Laws. Notwithstanding anything to the
contrary, to comply with Internal                Revenue Code Section 409A, the Executive
must timely submit any such cost or                expense for reimbursement so that it
can be reimbursed no later than the end of                the calendar year following the
calendar year in which the item was incurred; no                reimbursement can be made
after that time.  

13 

        15.
               Any provision of this Agreement which is held to be unenforceable or
invalid in                any respect in any jurisdiction shall be ineffective in such
jurisdiction to the                extent that it in unenforceable or invalid without
affecting the remaining                provisions hereof, which shall continue in full
force and effect. The                unenforceability or invalidity of a provision of
this Agreement in one                jurisdiction shall not invalidate or render
unenforceable such provision in any                other jurisdiction.  

        16.
               This Agreement shall be governed by and construed in accordance with the
laws of                the State of Wisconsin applicable to contracts made and to be
performed therein,                without regard to conflict of law principles.  

        17.
               This instrument contains the entire agreement of the parties, and
supersedes any                earlier agreement between them, relative to a transition
period or termination                in the event of a Change of Control Event. It may
not be changed orally but only                by an agreement in writing signed by the
party against whom enforcement of any                waiver, change, modification,
extension, or discharge is sought. Notwithstanding                anything in this
Agreement to the contrary, the Corporation may unilaterally                amend this
Agreement prior to the occurrence of a Change of Control Event to                make
changes that the Corporation reasonably determines are necessary or
               appropriate for purposes of causing this Agreement to comply with the
               requirements of Section 409A of the Internal Revenue Code and
regulations                proposed or promulgated thereunder, so long as the Corporation
makes the same                changes to corresponding agreements to which other
Corporation executives are                parties.  

        18.
               The Executive shall not be required to mitigate damages or the amount of
any                payment to the Executive provided for under this Agreement by seeking
other                employment or otherwise, nor shall the amount of any payment
provided for under                this Agreement be reduced by any compensation earned by
the Executive as a                result of employment by another employer after
Termination.  

        19.
               If the Executive is also a party to a Severance Benefits Agreement (or any
               similar agreement) with the Corporation (or an Affiliate), upon the
occurrence                of a Change in Control Event (whether such Severance Benefits
Agreement or                similar agreement was entered into or amended prior to or
after the date of this                Agreement), then the Executive’s rights and
obligations upon a termination                of Executive’s employment during the
term of this Agreement will be                governed by this Agreement rather than the
Severance Benefits Agreement or                similar agreement.  

        20.
               The HDI Group shall be entitled to withhold from amounts to be paid to the
               Executive hereunder any federal, state or local withholding or other taxes
or                charges which it is from time to time required to withhold; provided,
that the                amount so withheld shall not exceed the minimum amount required
to be withheld                by law. In addition, if prior to the date of payment of the
benefits hereunder,                the Federal Insurance Contributions Act (FICA) tax
imposed under Sections 3101,                3121(a) and 3121(v)(2), where applicable,
becomes due, the HDI Group may provide                for an immediate payment of the
amount needed to pay the Executive’s                portion of such tax (plus an
amount equal to the income taxes that will be due                on such amount) and the
Executive’s remaining benefits under this Agreement                shall be reduced
accordingly. The HDI Group shall be entitled to rely on an                opinion of
nationally recognized tax counsel if any question as to the amount or
               requirement of any such withholding shall arise.  

14 

        21.
               In the event that neither the Corporation nor any Affiliate has
outstanding any                stock which is publicly traded on an established
securities market or otherwise,                any references in this Agreement to
distribution being made on the first day of                the month following the month
in which occurs the six month anniversary of the                date of Termination shall
automatically be modified to provide for distribution                within ten days
following the date of Termination.  

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

	 	HARLEY-DAVIDSON, INC.
	

 	By:____________________________________________
	

 	ATTEST:
	

 	__________________________________________________
	

 	EXECUTIVE:
	

 	__________________________________________________

15 

Schedule A 

CERTAIN DEFINITIONS  

        As
used in this Agreement, and unless the context requires a different meaning, the following
terms have the meanings indicated: 

“AFFILIATE” means each
corporation, trade or business that, with the Corporation, constitutes a controlled group
of corporations or group of trades or businesses under common control within the meaning
of Code Sections 414(b) or (c), applied by substituting “at least 50 percent”
for “at least 80 percent” each place it appears. 

“BASE INCOME TAX RATES”
shall have the meaning ascribed to it in Section 8(c) of the Agreement. 

“BENEFIT RESTORATION PLAN”
has the meaning ascribed to it in Section 7(d) of the Agreement. 

“BOARD” means the
Corporation’s board of directors. 

“CAUSE” means the commission
by the Executive of one or more acts for which the Executive is convicted of a felony
under United States federal, state or local criminal law, or willful and gross misconduct
on the part of the Executive that is materially and demonstrably detrimental to the HDI
Group taken as a whole. 

“CHANGE OF CONTROL EVENT”
means any one of the following: (a) Continuing Directors no longer constitute at
least 2/3 of the Directors; (b) any person or group of persons (as defined in
Rule 13d-5 under the Securities Exchange Act of 1934), together with its affiliates,
become the beneficial owner, directly or indirectly, of 20% or more of the
Corporation’s then outstanding Common Stock or 20% of more of the voting power of the
Corporation’s then outstanding securities entitled generally to vote for the election
of the Corporation’s Directors; (c) the consummation of the merger or
consolidation of the Corporation with any other corporation, the sale of substantially all
of the assets of the Corporation or the liquidation or dissolution, of the Corporation,
unless, in the case of a merger or consolidation, the then Continuing Directors in office
immediately prior to such merger or consolidation will constitute at least 2/3 of the
Directors of the surviving corporation of such merger or consolidation and any parent (as
such term is defined in Rule 12b-2 under the Securities Exchange Act of 1934) of such
corporation; or (d) at least 2/3 of the then Continuing Directors in office
immediately prior to any other action proposed to be taken by the Corporation’s
stockholders or by the Board determines that such proposed action, if taken, would
constitute a change of control of the Corporation and such action is taken. 

“CODE” means the Internal
Revenue Code of 1986, as amended. 

“COMPENSATION” means the
sum of all remuneration to which the Executive is entitled, including, but not limited to
salary, participation in HDI Group bonus and benefit plans, programs or arrangements and
awards under any HDI Group bonus plans, long-term incentive compensation plans, stock
option plans, restricted stock plans or any other deferred compensation plans that the HDI
Group Employer maintained or adopted prior to the Change of Control Event, the value to
the Executive of the use of professional outplacement services by qualified consultants
and use of automobiles or vehicles (or allowances in respect thereof), and all amounts in
respect of club, association or similar fees and dues covering such Executive. In the
event that the HDI Group cannot provide the Executive with one or more benefits which it
is obligated to provide to the Executive, pursuant to this Agreement, under its employee
benefit plans, programs or arrangements then the HDI Group shall provide the Executive
with equivalent benefits at the expense of the HDI Group Employer. 

16 

“CONTINUING DIRECTOR” means
any individual who is either (i) a member of the Board on the date hereof or
(ii) a member of the Board whose election or nomination to the Board was approved by
a vote of at least two-thirds of the Continuing Directors (other than a person whose
election was as a result of an actual or threatened proxy or other control contest). 

“CORPORATION” means
Harley-Davidson, Inc., a Wisconsin corporation. 

“EXCISE TAX” has the
meaning ascribed to it in Section 8(b)(i) of the Agreement. 

“GOOD REASON” means the
occurrence of any one of the following events, as determined by the Executive in good
faith: 

     (a)
          any breach of this Agreement by the Corporation, including specifically any
          breach by the Corporation of its agreement contained in Section 6, other
          than an isolated, insubstantial and inadvertent failure not occurring in bad
          faith that the Corporation remedies promptly after receipt of notice thereof
          given by the Executive; 

     (b)
          any reduction in the Executive’s base salary, percentage of base salary
          available as incentive compensation or bonus opportunity or benefits, in each
          case relative to those most favorable to the Executive in effect at any time
          during the 180-day period prior to the Change of Control Event or, to the extent
          more favorable to the Executive, those in effect after the Change of Control
          Event; 

     (c)
          a material adverse change, without the Executive’s prior written consent,
          in the Executive’s working conditions or status with the Corporation or the
          HDI Group Employer from such working conditions or status in effect during the
          180-day period prior to the Change of Control Event or, to the extent more
          favorable to the Executive, those in effect after the Change of Control Event,
          including but not limited to (1) a material change in the nature or scope of the
          Executive’s titles, authority, powers, functions, duties, reporting
          requirements or responsibilities, or (2) a material reduction in the level of
          support services, staff, secretarial and other assistance, office space and
          accoutrements, but excluding for this purpose an isolated, insubstantial and
          inadvertent event not occurring in bad faith that the Corporation remedies
          promptly after receipt of notice thereof given by the Executive; 

     (d)
          the relocation of the Executive’s principal place of employment to a
          location more than 50 miles from the Executive’s principal place of
          employment on the date 180 days prior to the Change of Control Event; 

17 

     (e)
          the HDI Group Employer requires the Executive to travel on Employer business to
          a materially greater extent than was required during the 180-day period prior to
          the Change of Control Event; 

     (f)
          failure by the Corporation to obtain the agreement referred to in Section 13 as
          provided therein; or 

     (g)
          any voluntary termination of employment by the Executive where the written
          notice of such termination is delivered during the 30 days following the first
          anniversary of the Change of Control Event; 

Provided, however, that any such
event occurs following the Change of Control Event. In the event of a dispute regarding
whether the Executive terminated the Executive’s employment for “Good
Reason” in accordance with this Agreement, no claim by the Corporation that such
termination does not constitute a Termination shall be given effect unless the Corporation
establishes by clear and convincing evidence that such termination does not constitute a
Termination. Any election by the Executive to terminate the Executive’s employment
for Good Reason shall not be deemed a voluntary termination of employment by the Executive
for purposes of any other employee benefit or other plan. 

“GROSS-UP PAYMENT” has the
meaning ascribed to it in Section 8(b)(i) of the Agreement. 

“HDI GROUP” means
Harley-Davidson, Inc. and its Affiliates. 

“HDI GROUP EMPLOYER” means
the member of the HDI Group that employed the Executive immediately prior to the Change of
Control Event. 

“RETIREMENT PLAN” has the
meaning ascribed to it in Section 7(d) of the Agreement. 

“SALARIED RETIREMENT PLAN”
has the meaning ascribed to it in Section 7(d) of the Agreement. 

“SEPARATION FROM SERVICE”
means the date on which the Executive separates from service (within the meaning of Code
Section 409A) from the HDI Group. A Separation from Service occurs when the HDI Group and
the Executive reasonably anticipate that no further services will be performed by the
Executive for the HDI Group after that date or that the level of bona fide services
the Executive will perform after such date as an employee of the HDI Group will
permanently decrease to no more than 20% of the average level of bona fide services
performed by the Executive (whether as an employee or independent contractor) for the HDI
Group over the immediately preceding 36-month period (or such lesser period of services).
The Executive is not considered to have incurred a Separation from Service if the
Executive is absent from active employment due to military leave, sick leave or other bona
fide reason if the period of such leave does not exceed the greater of (i) six months, or
(ii) the period during which the Executive’s right to reemployment by the HDI Group
is provided either by statute or by contract; provided that if the leave of absence is due
to a medically determinable physical or mental impairment that can be expected to result
in death or last for a continuous period of not less than six months, where such
impairment causes the Executive to be unable to perform the duties of his or her position
of employment or any substantially similar position of employment, the leave may be
extended for up to 29 months without causing the Executive to have incurred a Separation
from Service. 

18 

“TAX ADJUSTMENT AMOUNT” has
the meaning ascribed to it in Section 8(c) of the Agreement. 

“TERMINATION” means a
termination of the Executive’s employment with the HDI Group while this Agreement is
in effect, if such termination constitutes a Separation from Service and such termination
satisfies one of Paragraphs (a), (b) or (c) below: 

          		    (a)       
               any termination by the HDI Group of the Executive’s employment following
               the occurrence of any Change of Control Event, other than termination of the
               Executive’s employment for Cause or as a result of the death of the
               Executive; 

               

          		    (b)       
               any termination by the Executive of the Executive’s employment for Good
               Reason following the occurrence of a Change in Control Event; or 

               

          		    (c)       
               any termination of the Executive’s employment caused by the death of the
               Executive during the period beginning on the date of the Change in Control Event
               and ending on the date that is thirty (30) days after the first anniversary of
               the date of the Change in Control Event. 

               

“UNDERPAYMENT” has the
meaning ascribed to it in Section 8(d)(iii) of the Agreement. 

19

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