[Letterhead of Lucien Alziari, Senior Vice President, Human Resources Avon Products, Inc.]

You will be eligible to participate in all of the benefit programs in which similarly situated executives participate. Accordingly, you will be eligible for our flexible benefits programs and Avon's Personal Savings Account (Avon's 401(k) Plan) on your date of hire. Also, we will automatically open a Personal Retirement Account for you after you complete one year of service. This is a cash balance pension account designed to provide you with a source of retirement income if you should leave Avon at any time after becoming vested. (After you complete one year of service, your opening balance in this account will be calculated retroactive to your date of hire.) Under the Supplemental Life Insurance Plan (SLIP), you are entitled to death benefit coverage of $500,000. These benefits begin on your first day of employment or as soon thereafter as possible, subject to enrollment requirements. You will be eligible for four weeks of vacation, which is more than our policy based on years of service. If you leave Avon's employment you will be paid any vacation earned until the termination date.

You will be eligible for a 3-year leased car with a $35,000 sticker price. Avon will cover lease payments, insurance, maintenance and gasoline for this car, or you may choose an annual flexible allowance of $9,250. You will also be entitled to reimbursement of annual tax preparation assistance and financial planning up to a maximum of $12,500 per year. In the event that you choose not to avail yourself of both the Company car program and the financial planning allowance, you will be eligible for a miscellaneous allowance of $20,000 per year. You will also be eligible for the home security system and personal automobile and excess liability insurance programs. In addition, you will be eligible for an annual executive health examination.

As a senior executive of Avon, you will need to adhere to stock ownership guidelines mandated by the Board of Directors, which encourage executive share ownership. You will be required to own Avon stock equal to three times base salary in five years from the date of hire. The ownership guidelines align executive interests with those of shareholders and are consistent with best practices among high-performing companies.

In connection with your service as an officer of the Company you will be entitled to indemnification in accordance with the provisions of Article XII of the Company’s By-Laws, a current copy of which is attached for your reference. The Company also maintains director and officer liability insurance, the amount and scope of which may vary from time to time. Subject to availability at a reasonable price, it is our expectation that such coverage will remain in place.

In the event of involuntary termination (except for “Discharge for Cause” as defined in the Avon Products, Inc. Severance Pay Plan), you will be entitled to wage continuation and other payments and benefits described in the attached Executive Severance Summary. This will not be reduced in the event of a change in the Executive Severance Policy. You will also be entitled to the benefits set forth in the Executive Severance Summary if, during the three-year period following a Change in Control, as defined in the Company's 2005 Stock Incentive Plan, you are assigned duties inconsistent in any significant respect with your position, authority or responsibilities at the time of such Change in Control. Your position, authority and responsibilities shall not be regarded as inconsistent with your previous position, authority and responsibilities merely by virtue of the fact that a successor shall have acquired all or substantially all of the business and/or assets of the Company. In the event of a Change in Control, any outstanding stock options will be treated in accordance with the provisions of the Company's standard form of Stock Option Agreement, a copy of which is attached for your reference.