The Gehl Savings Plan is amended in the following respects:

     1.   Section 1.01(k) is amended by the addition of the following at the end
          thereof:

          A "leased employee" for this purpose is any person (other than a
          common law employee of the Company) who, pursuant to an agreement
          between the Company and any other person, has performed services for
          the Company (or for the Company and related persons determined in
          accordance with Code Section 414(n)(6)) on a substantially full-time
          basis for a period of at least one year, if such services are
          performed under the primary direction of or control by the Company.

     2.   Section 3.02(a) is amended by the addition of the following at the end
          thereof:

          The maximum Deposits rate shall be 15% (8% for highly compensated
          employees as defined in Section 3.10) until March 31, 2002, at which
          time the 15% maximum rate shall increase to 50%; either or both such
          rates may be amended by the Administrator.

     3.   Article III is amended by the addition of the following new Section
          3.10 to read as follows:

          Section 3.10. Highly Compensated Employee. For purposes of Sections
          3.08 and 3.09, "highly compensated employee" means an employee who
          satisfies either of the following conditions:

          (i)  The employee was at any time during the current or immediately
               preceding Plan Year a five percent (5%) owner within the meaning
               of Code Sections 414(q) and 416(i), including deemed ownership
               resulting from application of the constructive ownership rules of
               Code Section 318; or

          (ii) The employee received "compensation" during the preceding Plan
               Year from the Company or any affiliate of the Company under Code
               Sections 414(b), (c), (m) or (o) that, in the aggregate, exceeded
               $80,000 as indexed in accordance with Code Section 414(q) for
               cost-of-living adjustments. For purposes of determining whether
               an employee is a highly compensated employee, "compensation"
               shall have the same meaning as in Section 5.06.

     4.   Section 5.06 is amended by the addition of the following after the
          second sentence thereof:

          For this purpose, "compensation" shall mean compensation as determined
          pursuant to Treasury Regulations section 1.415-2(d)(11)(i), increased
          by any salary reductions pursuant to Code Section 125, 132(f), and
          402(e)(3).

     5.   Section 12.11(ii) is amended to refer to Sections 3.08, 3.09 and 3.10.

     6.   Section 12.11 is further amended by the addition of the following at
          the end thereof:

          The definition of "compensation" in Section 5.06 shall apply
          retroactively from and after January 1, 1998 (January 1, 2000 with
          respect to Code Section 132(f)). For purposes of distributions between
          January 1, 1999 and December 31, 2001, "any hardship distribution" in
          Section 6.05(b) shall be read "any hardship distribution as described
          in Code Section 401(k)(2)(B)(I)(IV) which is attributable to the
          Participant's elective contributions under Treasury Regulation
          1.401(k)-1(d)(2)(ii)".