The Gillette Company Financial Planning Reimbursement Program (Revised October 2004)

Summary

The Gillette Company offers a Financial Planning Reimbursement Program for certain U.S.-based executives who are not eligible for the Senior Executive Financial Planning Program and meet specific job criteria. The program reimburses up to $5,000 per year for financial planning services during employment, and up to $3,000 per year after retirement, covering services for the executive and their immediate family. Participants are responsible for any taxes on the benefits. The company may amend or end the program at any time without advance notice.

EX-10.O 8 d16016_ex10-o.htm

Exhibit 10(o)

THE GILLETTE COMPANY FINANCIAL PLANNING
REIMBURSEMENT PROGRAM
REVISED OCTOBER 2004


Eligibility		Each executive of the Company who (i) is generally treated as a United States employee for employment and benefit purposes, (ii) is not eligible for the Company’s Senior Executive Financial Planning Program, and (iii) is either a grade level 25 or above, or holds any of the following By-Law officer positions in The Gillette Company: Vice President, Internal Auditor, Patent and Trademark Counsel, or Secretary.

Program Benefit		Reimbursement by Company of financial counseling, estate planning, tax preparation, retirement and other related financial planning services for the participant and his/her spouse, domestic partner or dependent children.

Available Providers		Any qualified tax, financial, legal or similar firm selected by participant.

Excluded Services		Brokerage or other investment transaction fees; asset management fees; insurance premiums; services for individuals other than participant, his/her spouse or domestic partner and dependent children.

Maximum Benefit		During employment: $5,000 of reimbursements received in any calendar year.

		Following retirement under a Company-sponsored retirement plan: $3,000 of reimbursements received in any calendar year, over the participant’s life.

Tax Effects		Program benefits received by participant will be includable in compensation. The participant is responsible for applicable Federal and State income taxes and FICA taxes.

Termination of Participation		Last day of calendar year in which participant ceases to be an eligible executive, unless participant qualifies for retirement benefits under this program.

Program Amendment and Termination		At discretion of the Company, by action of the Compensation Committee of the Board of Directors, without requirement of advance notice.

Effective Date		January 1, 1999 (for eligible executives on or after such date).