Common use of Introductory Note Clause in Contracts

Introductory Note. The following Performance Share Award Program (the “PSA Program”) was approved by the Board of Directors (the “Board”) of Monaco Coach Corporation (the “Company”) on March 20, 2006. Awards under the PSA Program will be granted under the Company’s 1993 Stock Plan (the “Plan”). Capitalized terms not otherwise defined herein will have the meanings given to them under the Plan. The description provided herein sets forth the specific terms and conditions of the PSA Program covering eligibility, performance measures, Performance Period and other key factors not described in the Plan. Each year when a new three-year Performance Period commences, the exhibits detailing the specific performance goals for a Performance Period under the PSA Program will be updated. Each participant in the PSA Program will receive an agreement that defines the individual terms for participation in a Performance Period.