Exhibit 10.20



                               MARKETING AGREEMENT



         This Marketing Agreement ("Agreement") is made as of March 13, 2003

(the "Effective Date") between ASV Inc., a Minnesota corporation with a

principal place of business at 840 Lily Lane, Grand Rapids, Minnesota 55744

("ASV") and Jacobsen, a division of Textron Inc., a Delaware corporation with

its principal place of business at 40 Westminster St., Providence, RI

02903("Jacobsen").



         WHEREAS, Jacobsen markets and sells landscaping equipment and products,

under the Jacobsen(R) trademark , to the golf course industry in North America

and worldwide, utilizing a network of independent authorized dealers ("Dealers";

individually "Dealer");



         WHEREAS, ASV manufactures and sells certain rubber-tracked products for

use in low impact landscaping applications;



         WHEREAS, ASV desires to market a rubber-tracked product for the golf

course market, using the ASV and Jacobsen(R) marks, through Jacobsen's network

of independent dealers; and, Jacobsen desires to promote the sale of ASV's

products to its dealers under the ASV and Jacobsen(R) marks and to provide

additional sales and field support;



         NOW, THEREFORE, in consideration of the foregoing and for other good

and valuable consideration, the receipt and sufficiency of which are

acknowledged, the parties agree as follows:



1.       DEFINITIONS



         As used herein, the following terms will have the following meanings:



         1.1      "Confidential Information" means all trade secrets,

confidential and proprietary data of any kind or nature whatsoever relating to

this Agreement, or the businesses of either party and its affiliates.

Confidential Information also shall include any information prepared or

developed by a party in connection with this Agreement, which reflects,

interprets, evaluates, includes or is derived from the Confidential Information

of another party. Confidential Information, by way of example, but not by way of

limitation, shall include, but not be limited to, technical specifications,

diagrams, discoveries, economic models, pro forma and other financial

information, designs, business opportunities, cost and pricing data, records,

customer lists, and engineering, manufacturing, and marketing know-how.

Confidential Information does not include information which (i) was generally

known or available to the public at the time of its disclosure, discovery or

production hereunder, or which after such disclosure, discovery or production

became generally known or available to the public, provided that such

disclosure, discovery or production was made or occurred through no fault of the

receiving party or its affiliates, or their officers, directors, or employees;

(ii) was in the possession of the receiving party prior to its disclosure,

discovery or production hereunder; (iii) was known or was being independently

developed by the receiving party at the time of its disclosure hereunder; (iv)

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