PROCTER & GAMBLE CO
EXHIBIT 10-8 - 10-Q JAS 2006
<DOCUMENT>
<TYPE>EX-10.8
<SEQUENCE>10
<FILENAME>x108.htm
<DESCRIPTION>EXHIBIT 10-8 - 10-Q JAS 2006
<TEXT>
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    <title>
      Exhibit 10-8 - 10-Q JAS 2006
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    <div id="lockwidth" style="WIDTH: 640px"><br>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">THE
        GILLETTE COMPANY</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">DEFERRED
        COMPENSATION PLAN</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><u>(for
        salary and bonus deferrals after December 31, 2004)</u></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><u>(as
        amended and restated effective January 1, 2005)</u></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><u>(with
        amendments adopted through August 21, 2006)</u></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top" style="line-height: 1;">
            <td align="right" style="width: 36pt;"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">1.&#160;&#160;</font></td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><u>Purpose</u></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">.
                The Gillette Company Deferred Compensation Plan (the "Plan") has
                been
                adopted by The Gillette Company (the "Company") to enable certain
                executive employees of the Company and its Participating Subsidiaries
                to
                defer a portion of their compensation on a tax-effective basis in
                addition
                to their eligible savings under The Gillette Company Employees' Savings
                Plan (the "Savings Plan") and The Gillette Company Supplemental Savings
                Plan.</font></div>
            </td>
          </tr>

      </table>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">The
        Plan
        is intended to constitute an unfunded plan of deferred compensation described
        in
        Sections 201(2), 301(a)(3) and 401(a)(1) of the Employee Retirement Income
        Security Act of 1974, as amended ("ERISA"), and in Sections 3121(v)(2) and
        3306(r)(2) of the Internal Revenue Code of 1986, as amended
        ("Code").</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Under
        the
        terms of the Plan as approved by the Company's Board of Directors, eligible
        employees may elect to defer salary and incentive bonus. This Plan document
        applies to the deferral of salary for services performed after December 31,
        2004, and to the deferral of incentive bonuses awarded for the 2004 and
        subsequent incentive years which would otherwise become payable after December
        31, 2004.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top" style="line-height: 1;">
            <td align="right" style="width: 36pt;"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">2.&#160;&#160;</font></td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><u>Eligible
                Employees</u></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">.
                Employees of the Company and Participating Subsidiaries who are full-time
                or part-time regular employees, have a job grade or a personal grade
                of 21
                or above, and who are generally treated by The Gillette Company as
                a
                United States employee for employment and benefit purposes, are eligible
                to participate in this Plan for any calendar
                year.</font></div>
            </td>
          </tr>

      </table>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top" style="line-height: 1;">
            <td align="right" style="width: 36pt;"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">3.&#160;&#160;</font></td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><u>Plan
                Features</u></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">.
                Eligible employees may enroll during an annual election period in
                such
                time and manner as prescribed by the Committee. A newly eligible
                employee
                may enroll within 30 days of becoming eligible. Eligible employees
                who
                elect to participate in the Plan ("Participants") may defer a portion
                of
                their salary ("Deferred Salary") and may defer all or a portion of
                their
                annual incentive bonus ("Deferred Bonus").
</font></div>
            </td>
          </tr>

      </table>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top" style="line-height: 1;">
            <td align="right" style="width: 36pt;"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">4.&#160;&#160;</font></td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><u>Recordkeeper</u></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">.
                The day-to-day recordkeeping and administrative functions with respect
                to
                the Plan shall be performed by a person or persons appointed by the
                Committee ("Recordkeeper"). In accordance with procedures determined
                by
                the Committee, Participants' elections under the Plan may be made
                by way
                of written, telephonic or electronic instruction to the
                Recordkeeper.</font></div>
            </td>
          </tr>

      </table>
      <div style="DISPLAY: block; MARGIN-LEFT: 30pt; TEXT-INDENT: -33pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top" style="line-height: 1;">
            <td align="right" style="width: 36pt;"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">5.&#160;&#160;</font></td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><u>Administration</u></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">.
                The Plan shall be administered by the Savings Plan Committee appointed
                by
                the Board of Directors of the Company (the "Committee"), which shall
                have
                the discretionary power and authority to construe and interpret the
                provisions of the Plan, to determine the eligibility of employees
                to
                participate in the Plan and the amount and timing of payment of any
                benefits due under the Plan, and to determine all other matters in
                carrying out the intended purposes of the Plan. In administering
                this
                Plan, including but not limited to considering appeals from the denial
                of
                claims for benefits and issuing decisions thereon, rules and procedures
                substantially similar to those set forth in the Savings Plan shall
                govern.</font></div>
            </td>
          </tr>

      </table>
      <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: -36pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: -36pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
        Subsequent to a Change in Control of the Company, the Plan shall be administered
        by the trustee of the trust established by the Company for the purposes of
        satisfying the Company's payment obligations under the Plan (the "Trustee").
        The
        Trustee shall be appointed by and serve at the pleasure of the Committee,
        but
        may not be removed following a Change in Control of the Company until all
        the
        Company's obligations under the Plan have been satisfied.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 30pt; TEXT-INDENT: -33pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top" style="line-height: 1;">
            <td align="right" style="width: 36pt;"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">6.&#160;&#160;</font></td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><u>Construction
                of Terms</u></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">.
                Except as expressly provided in this Plan to the contrary, capitalized
                terms referenced herein shall have the same meanings as are applied
                to
                such terms in the Savings Plan as in effect from time to time.
                Notwithstanding the foregoing, to the extent necessary to comply
                with
                Section 409A of the Code, in the case of any payment hereunder that
                in the
                determination of the Committee would be considered &#8220;nonqualified deferred
                compensation&#8221; subject to Section 409A and as to which, in the
                determination of the Committee, the requirements of Section
                409A(a)(2)(A)(v) of the Code would apply, an event or occurrence
                described
                as a Change of Control within the Savings Plan shall be considered
                a
                &#8220;Change of Control&#8221; in this Plan only if it also constitutes a change in
                ownership or effective control of the Company, or a change in ownership
                of
                the Company&#8217;s assets, described in Section 409A(a)(2)(A)(v) of the
                Code.</font></div>
            </td>
          </tr>

      </table>
      <div style="DISPLAY: block; MARGIN-LEFT: 30pt; TEXT-INDENT: -33pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">

          <tr valign="top" style="line-height: 1;">
            <td align="right" style="width: 36pt;"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 6pt">&#160;&#160;&#160;</font>&#160;7.&#160;</font></td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><u>Deferred
                Salary and Bonus Elections.</u></font></div>
            </td>
          </tr>

      </table>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top" style="line-height: 1;">
            <td align="right" style="width: 66pt;"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">(a)&#160;&#160;</font></td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">An
                eligible employee may elect to defer, in whole percentages, up to
                60% of
                his or her gross salary. Such an employee will be eligible to elect
                to
                defer his or her salary within 30 days of initially becoming eligible
                and,
                thereafter, will be permitted to defer salary during an annual election
                period, at such time and in such manner as prescribed by the Committee.
                Such election can include the employee's written, telephonic or electronic
                instruction.</font></div>
            </td>
          </tr>

      </table>
      <div style="DISPLAY: block; MARGIN-LEFT: 66pt; TEXT-INDENT: -33pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 66pt; TEXT-INDENT: -33pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 6pt">&#160;&#160;&#160;</font>&#160;&#160;&#160;
        A Participant may elect to defer his or her salary until separation from
        service
        (as defined for purposes of Section 409A of the Code), payable under one
        of the
        forms of payment specified in Section 9(b). The Participant shall select
        a
        payment method for the first time he or she elects to defer his or her salary,
        and as permitted by the Company thereafter. </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top" style="line-height: 1;">
            <td align="right" style="width: 66pt;"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">(b)&#160;&#160;</font></td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Effective
                with incentive bonus awards payable for incentive year 2004, an eligible
                employee may elect to defer all or a portion of his or her incentive
                bonus, in whole percentage increments, by making such election at
                least
                six months prior to the close of the applicable incentive year during
                an
                annual election period, at such time and in such manner as prescribed
                by
                the Committee which can include written, telephonic or electronic
                instruction; provided, however, that additional limitations (including,
                but not limited to, the portion of an incentive bonus that may be
                deferred) may be imposed to the extent necessary to comply with Section
                409A of the Code.</font></div>
            </td>
          </tr>

      </table>
      <div style="DISPLAY: block; MARGIN-LEFT: 66pt; TEXT-INDENT: -33pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 66pt; TEXT-INDENT: -33pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 6pt">&#160;&#160;&#160;</font>&#160;&#160;&#160;
        A Participant may elect to defer his or her bonus either for a period of
        2 - 15
        years following the year of deferral, or until separation from service (as
        defined for purposes of Section 409A of the Code) and payable under one of
        the
        forms of payment specified in Section 9(b). The Participant shall select
        a
        payment method for each year's deferral during the applicable annual election
        period.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 66pt; TEXT-INDENT: -33pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top" style="line-height: 1;">
            <td align="right" style="width: 66pt;"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">(c)&#160;&#160;</font></td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">A
                Participant may change his or her deferred salary or bonus payment
                election subsequent to the year of deferral, provided that the new
                payment
                election (i) is made at least twelve months prior to the date of
                the
                previously scheduled payment, (ii) is made at least twelve months
                prior to
                the date of the new scheduled payment (or in the case of installment
                payments treated as a single payment, 12 months prior to the date
                the
                first amount was scheduled to be paid). and (iii) provides for a
                new
                scheduled payment date that is at least five years following the
                previously scheduled payment date (or in the case of installment
                payments
                treated as a single payment, 5 years from the date the first amount
                was
                scheduled to be paid).</font></div>
            </td>
          </tr>

      </table>
      <div style="DISPLAY: block; MARGIN-LEFT: 66pt; TEXT-INDENT: -33pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top" style="line-height: 1;">
            <td align="right" style="width: 66pt;"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">(d)&#160;&#160;</font></td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">The
                deferred amounts will be recorded in an account maintained for each
                Participant by the Recordkeeper, entitled the "Deferred Salary Account"
                or
                "Deferred Bonus Account", as applicable. A Participant shall always
                be
                fully vested in amounts credited to his or her Plan
                accounts.</font></div>
            </td>
          </tr>

      </table>
      <div style="DISPLAY: block; MARGIN-LEFT: 66pt; TEXT-INDENT: -33pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top" style="line-height: 1;">
            <td align="right" style="width: 66pt;"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">(e)&#160;&#160;</font></td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">A
                deferral election will become effective (i) as of the next practicable
                payroll period for newly eligible employees and (ii) as of the first
                payroll period of the next following calendar year for all other
                employees. </font></div>
            </td>
          </tr>

      </table>
      <div style="DISPLAY: block; MARGIN-LEFT: 66pt; TEXT-INDENT: -33pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top" style="line-height: 1;">
            <td align="right" style="width: 66pt;"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">(f)&#160;&#160;</font></td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">A
                Participant may change or discontinue his or her salary deferral
                election
                during the applicable annual election period, effective as of the
                first
                payroll period of the next following calendar year.
                </font></div>
            </td>
          </tr>

      </table>
      <div style="DISPLAY: block; MARGIN-LEFT: 66pt; TEXT-INDENT: -33pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top" style="line-height: 1;">
            <td align="right" style="width: 66pt;"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">(g)&#160;&#160;</font></td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Such
                change in deferral election shall operate prospectively and shall
                have no
                effect on prior deferrals under this Plan. An individual who has
                previously participated in the Plan shall be considered a Participant
                for
                the purposes of the Plan until final distribution is made of amounts
                credited to his or her Deferred Salary and Bonus
                Accounts.</font></div>
            </td>
          </tr>

      </table>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top" style="line-height: 1;">
            <td align="right" style="width: 66pt;"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">(h)&#160;&#160;</font></td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><u>2005
                Cancellation of Previous Deferral Elections.</u></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">
                If
                the Participant&#8217;s employment is terminated during 2005 (or such later time
                as may be permitted for cancellation or partial cancellation of deferrals
                under regulations or other guidance issued by the Internal Revenue
                Service), if permitted by the Company and according to such rules
                and
                procedures as the Company may prescribe, such Participant may cancel
                his
                or her deferred salary or bonus payment election at any time during
                2005
                (or such later time as may be permitted for cancellation or partial
                cancellation of deferrals under regulations or other guidance issued
                by
                the Internal Revenue Service), and instead the Participant shall
                receive
                such deferred salary or bonus, in a single lump sum cash payment
                as soon
                as practicable following the Participant&#8217;s separation from service or such
                cancellation, whichever is later, provided however, only if all amounts
                received are includible in the taxable income of the Participant
                in the
                calendar year 2005 (or by such later time as may be permitted for
                cancellation or partial cancellation of deferrals under regulations
                or
                other guidance issued by the Internal Revenue Service). The Company
                may,
                in its sole discretion, also specify other situations (other than
                termination of employment) in which a Participant may cancel his
                or her
                deferred salary or bonus payment election, provided such cancellation
                is
                permitted under Notice 2005-1, Q&amp;A-20 (or other subsequent Internal
                Revenue Service guidance).</font></div>
            </td>
          </tr>

      </table>
      <div style="DISPLAY: block; MARGIN-LEFT: 102pt; TEXT-INDENT: -33pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top" style="line-height: 1;">
            <td align="right" style="width: 66pt;"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">(i)&#160;&#160;</font></td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><u>Special
                Rules for 2005 and 2006 Changes to Deferred Salary or Bonus Payment
                Elections.</u></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">
                Notwithstanding anything to the contrary above, during 2005, during
                such
                periods of time and under rules and procedures as the Company shall
                in its
                sole discretion establish with respect to all Participants, a Participant
                may change his or her deferred salary or bonus payment election with
                respect to any previously deferred amounts, without the restrictions
                of
                subsection (c) above applying. In the sole discretion of the Company,
                this
                same ability to change deferral elections without these subsection
                (c)
                restrictions applying, may be made available to Participants during
                2006,
                but if such an ability is so made available, there may be no changes
                to
                payment elections with respect to previously deferred amounts that
                would
                otherwise have been payable during 2006, and no changes to payment
                elections may accelerate payments into
                2006.</font></div>
            </td>
          </tr>

      </table>
      <div style="DISPLAY: block; MARGIN-LEFT: 66pt; TEXT-INDENT: -33pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top" style="line-height: 1;">
            <td align="right" style="width: 36pt;"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">8.&#160;&#160;</font></td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><u>Additional
                Credits to Deferred Salary and Bonus Accounts</u></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">.</font></div>
            </td>
          </tr>

      </table>
      <div style="DISPLAY: block; MARGIN-LEFT: 30pt; TEXT-INDENT: -33pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top" style="line-height: 1;">
            <td align="right" style="width: 66pt;"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">(a)&#160;&#160;</font></td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">The
                Committee shall, from time to time, select one or more of the Investment
                Funds from the Savings Plan ("Investment Fund") in which Participants
                may
                be allowed to elect to have their Deferred Salary and Bonus Accounts
                deemed invested. </font></div>
            </td>
          </tr>

      </table>
      <div style="DISPLAY: block; MARGIN-LEFT: 66pt; TEXT-INDENT: -33pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top" style="line-height: 1;">
            <td align="right" style="width: 66pt;"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">(b)&#160;&#160;</font></td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Each
                Participant, upon electing to participate in the Plan, shall designate
                the
                Investment Fund or Funds with respect to which such Participant's
                Deferred
                Salary or Deferred Bonus Account shall be deemed invested, in such
                a time
                and manner as prescribed by the Committee for such purpose. The election
                shall be in whole percentage increments of each such Investment Fund.
                A
                Participant's election shall remain in effect with respect to all
                future
                salary and bonus deferrals unless and until changed by the Participant
                in
                accordance with Section 8(c) below.</font></div>
            </td>
          </tr>

      </table>
      <div style="DISPLAY: block; MARGIN-LEFT: 66pt; TEXT-INDENT: -33pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 66pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">If
        a
        Participant fails to make an election hereunder, all of his or her salary
        and
        bonus deferrals shall be deemed invested in a Money Market Fund until the
        Participant makes an alternative election hereunder. </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 66pt; TEXT-INDENT: -33pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top" style="line-height: 1;">
            <td align="right" style="width: 66pt;"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">(c)&#160;&#160;</font></td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">A
                Participant may change the Investment Fund or Funds in which his
                or her
                future salary or bonus deferrals are deemed to be invested. Such
                change in
                election shall be effective as of the close of the Business Day on
                which
                the Recordkeeper receives such instruction or, if such instruction
                is
                received after the close of a Business Day, as of the close of the
                next
                following Business Day.</font></div>
            </td>
          </tr>

      </table>
      <div style="DISPLAY: block; MARGIN-LEFT: 66pt; TEXT-INDENT: -33pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top" style="line-height: 1;">
            <td align="right" style="width: 66pt;"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">(d)&#160;&#160;</font></td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Amounts
                recorded in the Deferred Salary and Deferred Bonus Accounts maintained
                for
                each Participant shall be credited or debited with amounts equivalent
                to
                gains or losses realized by the Investment Funds in which the Participant
                elects to have his or her salary or bonus deferrals deemed invested
                from
                time to time. </font></div>
            </td>
          </tr>

      </table>
      <div style="DISPLAY: block; MARGIN-LEFT: 66pt; TEXT-INDENT: -33pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top" style="line-height: 1;">
            <td align="right" style="width: 66pt;"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">(e)&#160;&#160;</font></td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Subject
                to the limitations set forth in paragraphs (i) and (ii) below, a
                Participant may elect at any time to have amounts credited to his
                or her
                Deferred Salary or Deferred Bonus Account transferred from any Investment
                Fund to any of the other Investment Funds, by designating the percentage
                of the Deferred Salary Account invested in the transferring Investment
                Fund to be transferred (in whole percentage increments) and the percentage
                of such transferred amount to be invested in the receiving Investment
                Fund
                or Funds (in whole percentage increments). Such transfer election
                shall be
                effective, and the applicable Investment Funds shall be valued for
                the
                purpose of implementing such election, as of the close of the Business
                Day
                on which the Recordkeeper receives such instruction or, if such
                instruction is received after the close of a Business Day, as of
                the close
                of the next following Business Day. </font></div>
            </td>
          </tr>

      </table>
      <div>&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 66pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Elections
        by Participants under this Section 8(e) shall be limited in the following
        respects:</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 66pt; TEXT-INDENT: -33pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: -33pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">(i)&#160;&#160;&#160;&#160;&#160;&#160;
        </font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">The
        minimum amount that may be deemed transferred from any Investment Fund shall
        be
        $250 or, if less, the entire balance of the Participant's Deferred Salary
        or
        Deferred Bonus Account deemed invested in such Investment Fund.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: -33pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: -33pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">(ii)&#160;&#160;&#160;&#160;&#160;&#160;
        </font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">The
        Committee may, in its discretion, limit the number of transfers that may
        be made
        to or from any Investment Fund at any time. The Committee shall also have
        the
        discretionary right to suspend the availability of transfers among any or
        all of
        the Investment Funds at any time without prior notice to
        Participants.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: -33pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top" style="line-height: 1;">
            <td align="right" style="width: 66pt;"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">(f)&#160;&#160;</font></td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Notwithstanding
                any other provision of the Plan to the contrary, in the event of
                a Change
                of Control, the Trustee shall have the authority to prescribe alternative
                investment funds in which Participants' accounts under this Plan
                shall be
                deemed invested; provided, however, that (i) if Participants retain
                the
                right to designate the investment funds for deemed investment of
                their
                respective accounts, then the investment funds selected by the Trustee
                shall include at least an Equity Index Fund and a Money Market Fund,
                and
                (ii) if Participants are no longer entitled to designate the investment
                funds for deemed investment of their respective accounts, then all
                accounts under this Plan shall automatically be deemed invested in
                a Money
                Market Fund, pending distribution in accordance with Section 9 below.
                </font></div>
            </td>
          </tr>

      </table>
      <div style="DISPLAY: block; MARGIN-LEFT: 66pt; TEXT-INDENT: -33pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top" style="line-height: 1;">
            <td align="right" style="width: 36pt;"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">9.&#160;&#160;</font></td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><u>Payments
                from Deferred Salary and Bonus Accounts</u></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">.</font></div>
            </td>
          </tr>

      </table>
      <div style="DISPLAY: block; MARGIN-LEFT: 24pt; TEXT-INDENT: -33pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top" style="line-height: 1;">
            <td align="right" style="width: 66pt;"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">(a)&#160;&#160;</font></td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Except
                as otherwise provided in this Section, no amounts shall be payable
                under
                the Plan to any Participant while he or she is employed by the Company
                or
                any Participating Subsidiary. Unless an election is made in accordance
                with Section 9(b) or (c) below, or unless Section 9(d) below applies,
                all
                amounts credited to a Participant's Deferred Salary or Bonus Account
                shall
                be paid in a single lump sum as soon as practicable following the
                Participant's separation from service, valued as of the first business
                day
                coincident with or next following such separation from service; provided,
                however, in the case of a Participant who is a "specified employee"
                (within the meaning of Section 409A(a)(2)(B)(i) of the Code), the
                payment
                shall not be made sooner than six months following the Participant's
                separation from service.</font></div>
            </td>
          </tr>

      </table>
      <div style="DISPLAY: block; MARGIN-LEFT: 66pt; TEXT-INDENT: -33pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top" style="line-height: 1;">
            <td align="right" style="width: 66pt;"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">(b)&#160;&#160;</font></td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">A
                Participant may elect to receive payment of his or her deferred salary
                for
                each calendar year in either (i) a single lump sum valued as of the
                first
                business day coincident with or next following the Participant's
                separation from service or as of any of the first through tenth
                anniversaries thereof, or (ii) from two to ten annual installments
                valued
                as of the first business day coincident with or next following the
                Participant's separation from service and each applicable anniversary
                thereafter.</font></div>
            </td>
          </tr>

      </table>
      <div style="DISPLAY: block; MARGIN-LEFT: 66pt; TEXT-INDENT: -33pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 66pt; TEXT-INDENT: -33pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 6pt">&#160;&#160;&#160;</font>&#160;&#160;&#160;
        A Participant may elect to receive payment of each deferred bonus in either
        (i)
        a single lump sum valued as of the first business day of the month coincident
        with or next following the second to fifteenth anniversary of the date the
        bonus
        was deferred, (ii) a single lump sum valued as of the first business day
        coincident with or next following the Participant's separation from service,
        or
        (iii) from two to ten annual installments valued as of the first business
        day
        coincident with or next following the Participant's separation from service
        and
        each applicable anniversary thereafter.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 66pt; TEXT-INDENT: -33pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 66pt; TEXT-INDENT: -33pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 6pt">&#160;&#160;&#160;</font>&#160;&#160;&#160;
        Notwithstanding the foregoing provisions of this subsection, in the case
        of a
        Participant who is a specified employee, payment elected on account of
        separation from service shall not be made sooner than six months following
        the
        Participant's separation from service (or if earlier the date of the
        Participant's death).</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 66pt; TEXT-INDENT: -33pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 66pt; TEXT-INDENT: -33pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 6pt">&#160;&#160;&#160;</font>&#160;&#160;&#160;
        Pending final distribution, the Participant's Deferred Salary or Bonus Account
        shall continue to be credited or debited with amounts equivalent to gains
        and
        losses realized by the Investment Funds in which such account is invested
        from
        time to time.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 66pt; TEXT-INDENT: -33pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top" style="line-height: 1;">
            <td align="right" style="width: 66pt;"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">(c)&#160;&#160;</font></td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Prior
                to the occurrence of a Change of Control, in accordance with rules
                prescribed by the Committee and subject to the applicable requirements
                of
                Section 409A of the Code, a Participant making a deferral election
                pursuant to Section 9(b) above may provide for the revocation of
                such
                election in the event of a Change of Control and for the payment
                by the
                Company of the Participant's Deferred Salary or Bonus Account in
                a single
                lump sum as soon as practicable following the Change of Control.
                The
                Participant's account will be valued as of the close of the Business
                Day
                on which the Change of Control occurs, or another date if so directed
                by
                the Committee or the Trustee.</font></div>
            </td>
          </tr>

      </table>
      <div style="DISPLAY: block; MARGIN-LEFT: 66pt; TEXT-INDENT: -33pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 66pt; TEXT-INDENT: -33pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 6pt">&#160;&#160;&#160;</font>&#160;&#160;&#160;
        In the absence of a Participant's affirmative direction to retain a deferral
        or
        installment election, in the event of a Change of Control, the Participant's
        Deferred Salary or Bonus Account will be paid by the Company in a single
        lump
        sum as soon as practicable following the Change of Control. The Participant's
        account will be valued as of the close of the Business Day on which the Change
        of Control occurs, or another date if so directed by the Committee or the
        Trustee.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 66pt; TEXT-INDENT: -33pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top" style="line-height: 1;">
            <td align="right" style="width: 66pt;"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">(d)&#160;&#160;</font></td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">In
                the event of the death of a Participant, whether or not then employed
                by
                the Company or a Participating Subsidiary, all amounts credited to
                the
                Participant's Deferred Salary or Bonus Account shall be paid to the
                Participant's estate in a single lump sum valued the first business
                day of
                the month following the date of death.</font></div>
            </td>
          </tr>

      </table>
      <div style="DISPLAY: block; MARGIN-LEFT: 66pt; TEXT-INDENT: -33pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top" style="line-height: 1;">
            <td align="right" style="width: 66pt;"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">(e)&#160;&#160;</font></td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">All
                determinations of value of Participants' Deferred Salary or Bonus
                Accounts
                shall be made in accordance with the relevant provisions of the Savings
                Plan.</font></div>
            </td>
          </tr>

      </table>
      <div style="DISPLAY: block; MARGIN-LEFT: 66pt; TEXT-INDENT: -33pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top" style="line-height: 1;">
            <td align="right" style="width: 66pt;"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">(f)&#160;&#160;</font></td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">All
                payments under the Plan shall be subject to any required withholding
                of
                Federal, state and local taxes.</font></div>
            </td>
          </tr>

      </table>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top" style="line-height: 1;">
            <td align="right" style="width: 36pt;"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">10.&#160;&#160;</font></td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><u>Source
                of Payments</u></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">.
                All amounts payable under the Plan shall be paid by the Company and
                Participating Subsidiaries from their general assets. No Participant
                shall
                have any right to or interest in any assets of the Company or any
                Participating Subsidiary other than as an unsecured general creditor,
                and
                no separate fund shall be established in which any Participant has
                any
                right or interest. The foregoing shall not prevent the Company or
                any
                Subsidiary from establishing one or more funds from which payments
                under
                the Plan shall be made, including but not limited to circumstances
                under
                which payments are to be made following a Change of
                Control.</font></div>
            </td>
          </tr>

      </table>
      <div style="DISPLAY: block; MARGIN-LEFT: 24pt; TEXT-INDENT: -33pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top" style="line-height: 1;">
            <td align="right" style="width: 36pt;"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">11.&#160;&#160;</font></td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><u>Plan
                Amendment and Termination</u></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">.
                The Plan may be amended or terminated by the Company at any time
                and in
                any manner prior to the happening of any event in connection with
                or in
                anticipation of a Change of Control that actually occurs, provided
                that no
                amendment or termination shall adversely affect the rights and benefits
                of
                Participants with respect to Compensation deferred pursuant to the
                Plan
                prior to such action. After the happening of any event in connection
                with
                or in anticipation of a Change of Control that actually occurs: (a)
                no
                amendment shall be made which adversely affects the rights and benefits
                of
                Participants with respect to compensation deferred or benefits accrued
                pursuant to the Plan prior to such amendment; and (b) no amendment
                may be
                made with respect to any provision of the Plan which becomes operative
                upon a Change of Control. </font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Notwithstanding
                the foregoing, the Company may amend the Plan (whether before or
                after a
                Change of Control) to the extent it reasonably deems necessary to
                comply
                with the requirements of Section 409A of the
                Code.</font></div>
            </td>
          </tr>

      </table>
      <div style="DISPLAY: block; MARGIN-LEFT: 24pt; TEXT-INDENT: -33pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top" style="line-height: 1;">
            <td align="right" style="width: 36pt;"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">12.&#160;&#160;</font></td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><u>No
                Right of Employment</u></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">.
                The adoption and operation of this Plan shall not create in any
                Participant a right of continued employment with the Company or any
                Subsidiary.</font></div>
            </td>
          </tr>

      </table>
      <div style="DISPLAY: block; MARGIN-LEFT: 24pt; TEXT-INDENT: -33pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top" style="line-height: 1;">
            <td align="right" style="width: 36pt;"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">13.&#160;&#160;</font></td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><u>No
                Assignment of Interest</u></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">.
                The interest of any Participant under the Plan may not be assigned,
                alienated, encumbered or otherwise transferred, and shall not be
                subject
                to attachment, garnishment, execution or levy; and any attempted
                assignment, alienation, encumbrance, transfer, attachment, garnishment,
                execution or levy shall be void and of no force or
                effect.</font></div>
            </td>
          </tr>

      </table>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 6pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 6pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 6pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 6pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 6pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 6pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 6pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 6pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 6pt">&#160;&#160;&#160;</font>&#160;THE
        GILLETTE
        COMPANY</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 216pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: -36pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">By:</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 21pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><u>/s/
        Edward E. Guillet____________________</u></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 180pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1; MARGIN-RIGHT: -36pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;
        Senior Vice President - Human Resources</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 216pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: -36pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">[reflects
        amendments adopted through August 21, 2006]</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt" align="left"><br></div>
    </div>
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