ALBERTO CULVER CO
SUMMARY OF FISCAL YEAR 2006 AWARD OPPORTUNITIES
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<TYPE>EX-10.(B)
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<DESCRIPTION>SUMMARY OF FISCAL YEAR 2006 AWARD OPPORTUNITIES
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 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="right"><FONT FACE="Times New Roman" SIZE="2"><B>Exhibit 10(b) </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2"><B><U>Summary of Fiscal Year 2006 Award Opportunities Under The </U></B></FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2"><B><U>Alberto-Culver Company Management Incentive Plan, As Amended, </U></B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT
FACE="Times New Roman" SIZE="2"><B><U>For Certain Executive Officers </U></B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman"
SIZE="2">Pursuant to Alberto-Culver Company&#146;s (the &#147;Company&#148;) Management Incentive Plan (the &#147;MIP&#148;), on September&nbsp;20, 2005, the Compensation and Leadership Development Committee of the Board of Directors of the Company
(the &#147;CLD Committee&#148;) established financial performance criteria for fiscal year 2006 for Carol L. Bernick, Chairman and a Director; Howard B. Bernick, President and Chief Executive Officer and a Director; William J. Cernugel, Senior Vice
President and Chief Financial Officer; Michael H. Renzulli, Chairman of Sally Beauty Company; and V. James Marino, President of Alberto-Culver Consumer Products Worldwide. Under the MIP, the CLD Committee may base a participant&#146;s annual bonus
upon one or more financial criteria set forth in the MIP, allocating the percentage weight that each such criterion has on the annual bonus. For the officers listed above, the financial criteria and percentage allocation were established by the CLD
Committee as follows: </FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P>
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<TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">Mrs.&nbsp;Bernick&#146;s award opportunity is weighted 50% on sales and 50% on operating earnings of the Company; </FONT></TD></TR></TABLE> <P
STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P>
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<TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">Mr.&nbsp;Bernick&#146;s award opportunity is weighted 50% on sales and 50% on operating earnings of the Company; </FONT></TD></TR></TABLE> <P
STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P>
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<TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">Mr.&nbsp;Cernugel&#146;s award opportunity is weighted 50% on sales and 50% on operating earnings of the Company; </FONT></TD></TR></TABLE> <P
STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P>
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<TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">Mr.&nbsp;Renzulli&#146;s award opportunity is weighted 5% on sales and 5% on operating earnings of the Company and 45% on sales and 45% on operating earnings of Sally Beauty
Company; </FONT></TD></TR></TABLE> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P>
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<TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">Mr.&nbsp;Marino&#146;s award opportunity is weighted 5% on sales and 5% on operating earnings of the Company and 45% on sales and 45% on operating earnings of Alberto-Culver
Consumer Products Worldwide; and </FONT></TD></TR></TABLE> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Under the MIP, &#147;operating
earnings&#148; means pre-tax earnings before non-recurring and other unusual items reported separately in the Company&#146;s income statement. </FONT></P>
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