The Gillette Company Senior Executive Financial Planning Program (Revised October 2004)

Summary

This agreement outlines The Gillette Company's Senior Executive Financial Planning Program, which provides reimbursement for financial planning services to the Chairman/CEO and their direct reports who are U.S. employees. Eligible participants and their families can receive annual reimbursements for qualified financial services, with specific limits during employment and retirement. The company also covers related tax liabilities. Participation ends when the executive leaves their role unless they retire under a company plan. The program can be amended or terminated at the company's discretion.

EX-10.P 9 d16016_ex10-p.htm

Exhibit 10(p)

THE GILLETTE COMPANY SENIOR EXECUTIVE
FINANCIAL PLANNING PROGRAM
REVISED OCTOBER 2004


Eligibility		Chairman/CEO of the Company and his/her direct reports who are generally treated as United States employees for employment and benefit purposes.

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: Chairman/CEO - $25,000/other participants - $11,000 of reimbursements received in any calendar year.

		Following retirement under a Company-sponsored retirement plan: $6,000 of reimbursements received in any calendar year, over the participant's life.

Tax Effects		Program benefits received by participant will be includable in compensation. Company will provide tax gross-up for Federal and State income taxes and FICA Medicare tax.

Termination of Participation		Last day of calendar year in which participant ceases to be an executive officer of the Company, 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		July 1, 2003 (for the Chairman/CEO of the Company and his/her direct reports in such positions on or after such date).