SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN
HARLEY-DAVIDSON, INC. a Wisconsin corporation, together with its subsidiaries and affiliates (collectively
referred to herein as the "Employer"), hereby establishes this Supplemental Executive Retirement Plan (the
"SERP") for the Executive effective as of the ____ day of _____________, 199__, as follows:
1. Purpose. The purpose of the SERP is to provide the Executive with retirement income benefits which are
supplemental to entitlements under the Funded Plan, the Harley-Davidson Retirement Savings Plan, the Harley-
Davidson Pension Benefit Restoration Plan, and the Employer's post- retirement medical benefits plan.
2. Definitions. The following terms have the following meanings unless the context clearly indicates otherwise:
(a) "Applicable Interest Rate" means the product of one (1.0) minus the applicable maximum tax rate expressed
as a decimal multiplied by the preretirement earnings assumption in effect for the Funded Plan at the Executive's
Retirement Date, expressed as a decimal. The product shall then be rounded up to the nearest hundredth. The
"applicable maximum tax rate" means the total of the maximum federal individual income tax, the maximum State
of Wisconsin individual income tax, and the Hospital Insurance (Medicare) payroll tax, taking into account the
deductibility of state income taxes for federal income tax purposes, to the extent permitted by law and tax rates
as they are legally in effect at the relevant time. Any subsequent adjustments which may be made to tax rates or
to the Funded Plan's earnings assumption having retroactive effect to such date shall be disregarded.
(b) "Applicable Percentage" means thirty-five percent (35%) plus, for each full calendar month of employment
completed by the Executive after age fifty-five (55), one thousand seven hundred eighty-six ten-thousandths
percent (0.1786%), not to exceed a maximum of fifty percent (50%) at age sixty-two (62).