Helen of Troy Limited
Clarendon House
Church Street
Hamilton, Bermuda

April 15, 2005

Gerald J. Rubin
c/o Helen of Troy Limited
One Helen of Troy Plaza
El Paso, Texas 79912

 
Re:
Amended and Restated Employment Agreement between Helen of Troy Limited (the
“Company”) and Gerald J. Rubin dated March 1, 1999 (the “Employment Agreement”)

Dear Jerry:

The purpose of this letter is to amend the Employment Agreement pursuant to your
recent conversations with Gary Abromovitz of the Company’s Compensation
Committee. Effective as April 15, 2005 the Company and you agreed that the
Employment Agreement is hereby amended as follows:

1. The term of the Agreement shall be reduced from five years to three years and
shall renew on a daily basis for a new three-year term as currently provided in
Section 1.3 of the Employment Agreement.

2. Section 4.1(d) of the Employment Agreement shall be amended to add a new
paragraph following clause (ix) to read in its entirety as follows:

“(ix) Notwithstanding the foregoing, in no event shall the aggregate present
value of the payments and benefits provided to Executive under this Section
4.1(d) exceed 2.99 times Executive's 'base amount' as defined in Section
280G(b)(3) of the Internal Revenue Code of 1986, as amended, and as calculated
in the Company's reasonable judgment. In performing the calculations required
pursuant to the preceding sentence, including the present value and base amount
calculations, it is intended that the Company be guided by regulations and other
guidance issued by the U.S. Treasury Department under Code Section 280G and that
the Company assume that a change in ownership or control of the Company has
occurred, regardless of whether Section 280G otherwise applies to the situation
that results in the payments or benefits under Section 4.1(d) or such change in
ownership or control has occurred.”

Except as specifically amended hereby, the Employment Agreement shall remain in
full force and effect. If the foregoing correctly states your agreement to amend
the Employment Agreement, please sign in the space provided below.
 

        Helen of Troy Limited  
   
   
  By:   /s/ Christopher Carameros  

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Christopher Carameros, Executive Vice President   Agreed to and accepted:      
/s/ Gerald J. Rubin

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Gerald J. Rubin
 

 
 

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