TENTH AMENDMENT TO AMENDED AND RESTATED
                          LOAN AND SECURITY AGREEMENT

THIS TENTH AMENDMENT TO AN AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT is
entered into as of the 7th day of December, 2000 among Deutsche Financial
Services Corporation, Deutsche Financial Services a division of Deutsche Bank
Canada and Gehl Company and its subsidiaries, including but not limited to
Hedlund Martin, Inc., Gehl Power Products, Inc., and Mustang Manufacturing
Company, Inc. (all collectively hereinafter referred to as "Gehl").

                                   RECITALS:
                                   --------
A.   Deutsche Financial Services Corporation and Gehl Company entered into that
     certain "Loan and Security Agreement" dated the 1st day of October, 1994,
     which as from time to time has been amended and restated (as amended and
     restated is hereinafter referred to as the "Agreement") pursuant to which
     financing is being provided Gehl.
B.   The parties hereto desire to modify the terms of "Exhibit A" of the
     Agreement as herein provided.

                                   AGREEMENT:
                                   ---------
NOW THEREFORE, for and in consideration of the foregoing and other good and
valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the undersigned agree as follows:

"Exhibit A" of the Agreement is modified by the deletion of

     (i)     A(3),
     (ii)    B(1),
     (iii)   B(2),
     (iv)    B(3), and
     (v)     C(2), therefrom

and the addition of the following to Outside Warehouses as Item C(3):
                                     ------------------
     Pierce Distribution Services Company
     888 Landmark Drive,
     Belvidere, IL 61008.

GEHL COMPANY                           GEHL POWER PRODUCTS, INC.

By: /s/ Kenneth P. Hahn                By: /s/ Kenneth P. Hahn
   -------------------------------         -------------------------------
   Kenneth P. Hahn V.P.                    Kenneth P. Hahn, V.P.
   (Name & Title)                          (Name & Title)

HEDLUND MARTIN, INC.                   MUSTANG MANUFACTURING, INC.

By: /s/ Kenneth P. Hahn                By: /s/ Kenneth P. Hahn
   -------------------------------         -------------------------------
   Kenneth P. Hahn, Treasurer               Kenneth P. Hahn, V.P.
   (Name & Title)                          (Name & Title)

DEUTSCHE FINANCIAL SERVICES CORPORATION
By:   /s/
   -------------------------------

DEUTSCHE FINANCIAL SERVICES, a division of DEUTSCHE BANK CANADA
By:  /s/
   -------------------------------