Exhibit 10 (i) 









                             Alberto-Culver Company
                                                       
                      Executive Deferred Compensation Plan
                                                       
                              Plan Document Exhibit
                                                       
                                 January 1, 1999
                                                       
                                                               
























Table of Contents

I. Establishment, Definitions and Purpose

Preamble............................................................1
Definitions.........................................................1
Purpose.............................................................2

II. Participation

Participation, Notification and Election............................2
Deferral Procedure..................................................3
Deferral Agreement Termination......................................3
Establishment of Accounts...........................................3
Account Valuation and Earnings......................................3
Benefit Payments....................................................4

III. General Provisions

Funding.............................................................4
Vesting.............................................................4
In-Service Withdrawals..............................................4
Beneficiary Designation.............................................5
Death Benefits......................................................5
Administration......................................................5
Administrative Fees and Expenses....................................6
Claims Procedure....................................................6
Tax Liability.......................................................6

IV. Exempt Status...................................................6

V. Indemnification..................................................6

VI. Amendment and Termination.......................................6

VII. Miscellaneous

Nonassignability....................................................7
No Contract of Employment...........................................7
Participant Litigation..............................................7
Participant and Beneficiary Duties..................................7
Governing Law.......................................................8
Validity............................................................8
Notices.............................................................8
Successors..........................................................8










I. Establishment, Definitions and Purpose

1.1 Preamble

Pursuant to this plan document, Alberto-Culver Company will maintain an unfunded
deferred  compensation  plan, to be established as of January 1, 1999, and to be
known  as  the  Alberto-Culver  Company  Executive  Deferred  Compensation  Plan
("Plan").  Under the terms of the Plan, eligible employees of the Alberto-Culver
Company and certain of its domestic  subsidiaries are allowed to defer a portion
of their  Compensation.  Participants  and  their  beneficiaries  shall  have no
interest  in any  Company  assets as a source of funds to  satisfy  the  benefit
obligations  under the Plan. The Plan  constitutes  an unsecured  promise by the
Company to make benefit payments in the future and  Participants  shall have the
status of general unsecured creditors of the Company.

1.2 Definitions

Capitalized terms are generally defined in the Section where used. The following
terms appear in several Sections and are defined below for convenient reference:

a)  "Beneficiary"  - An individual or individuals or trust who are designated in
the most recent  writing by the  Participant to receive  his/her  benefit in the
event of the  Participant's  death.  If more than one  Beneficiary  survives the
Participant,   such  benefit   payments  shall  be  made  equally  to  all  such
Beneficiaries,  unless otherwise indicated by the Participant on the beneficiary
form.

b) "Code" - The Internal Revenue Code of 1986, as amended.

c) "Compensation" - The salary and commissions, where applicable, of an employee
as set by the Company for a Plan Year,  exclusive of any amounts  payable  under
bonus and incentive plans,  severance plans, option plans, and any other benefit
or welfare plan of the Company now or hereafter existing.

d)  "Company"  -  Alberto-Culver  Company  and any direct or  indirect  domestic
subsidiaries which, with the consent of Alberto-Culver Company, adopts this Plan
by  resolution  of its board of  directors.  On the date  hereof,  Sally  Beauty
Company,  Inc.,  Alberto-Culver  USA,  Inc.,  St. Ives  Laboratories,  Inc., and
Alberto- Culver  International,  Inc. have adopted this Plan with the consent of
Alberto-Culver Company.

e) "ERISA" - The Employee Retirement Income Security Act of 1974, as amended.

f) "Highly Compensated  Employee" - an employee of the Company who is determined
to be a Highly  Compensated  Employee  within the meaning of Code section 414(q)
(or any successor  provision),  as adjusted by the Internal Revenue Service from
time to time.


g)   "Participant" - A Highly  Compensated  Employee who meets the participation
     requirements set forth in Section 2.1 and elects to participate in the Plan
     in accordance herewith.




                                       





h)  "Plan  Administrator"  - An  individual  selected  from  time to time by the
Compensation  Committee of the Board of Directors of the Alberto-Culver  Company
(the "Compensation Committee") to administer the Plan and perform all accounting
and administrative functions in connection therewith.

i) "Plan Year" - Each 12  consecutive  month period  commencing on January 1 and
ending on December 31.

j) "Deferral Agreement Form" - A written agreement between a Participant and the
Company to defer  receipt of future  Compensation.  The Plan  Administrator  may
amend this form from time to time.

1.3 Purpose

Alberto-Culver  Company and certain of its domestic  subsidiaries sponsor 401(k)
plans  known as the  Alberto-Culver  401(k)  Savings  Plan and the Sally  Beauty
401(k) Savings Plan (collectively,  the "401(k) Plans") for the benefit of their
U.S.  employees and their  beneficiaries.  Each of the 401(k) Plans operate as a
"qualified  plan",  as defined  under the Code,  and  therefore  are  subject to
deferral limitations  contained therein. The Plan is established to mitigate the
effect of these limitations by allowing  Participants to defer a greater portion
of their  Compensation  and the earnings  thereon than is permitted solely under
the 401(k) Plans.

II. Participation

2.1 Participation, Notification and Election

The Plan  Administrator  shall provide  notification  to the Highly  Compensated
Employees of their  eligibility to participate in the Plan. The determination of
whether an employee is a Highly  Compensated  Employee will be calculated  based
upon such employee's  applicable  compensation  earned in the preceding calendar
year. The determination of whether a new hire is a Highly  Compensated  Employee
will be calculated  based upon such new hire's  initial  annual salary  (without
regard to commissions, if any) at the time of hire. The Plan Administrator shall
further provide  eligible  employees with a Deferral  Agreement  Form.  Eligible
employees  shall elect on the Deferral  Agreement Form for the  applicable  Plan
Year, the (i) percentage of  Compensation to be deferred in that Plan Year, (ii)
commencement  date of distributions  with respect to deferrals made in such Plan
Year, (iii) method of distribution which may be either a single-sum distribution
or equal annual  distribution  installments which can be no more than five, (iv)
any other  elections  required  by the Plan  Administrator  and set forth on the
Deferral   Agreement   Form.  A  Participant  is  not  permitted  to  (i)  defer
Compensation for a pay period which has commenced prior to the date on which the
Deferral  Agreement Form is signed by the  Participant and delivered to the Plan
Administrator  and (ii) with the exception of the  Participant's  termination of
employment with the Company,  defer  Compensation for a period of time less than
three years from the commencement date of such deferrals. Deferrals with respect
to future Compensation may be terminated pursuant to Section 2.3.


2.2 Deferral Procedure

Upon receipt of a properly  completed  and timely  executed  Deferral  Agreement
Form, the Company will withhold from each paycheck, the designated percentage of
the Participant's Compensation.  Changes in salary during the Plan Year shall be
subject to the same Compensation  deferral  percentage as previously elected and
indicated  on the Deferral  Agreement  Form.  The  deferral  amount shall not be
included as wages  subject to federal  income tax on the  Participant's  federal
income tax withholding statement.


                               





Participant  deferrals shall be subject to employment  taxes,  including Federal
Insurance  Contributions  Act  contributions,  and any  state or local  taxes as
required. The Participant must elect to defer not less than 1% and not more than
100%  of  his/her  Compensation.   Such  deferral  percentages  must  be  in  1%
increments.

All  elections  shall be made before the beginning of the Plan Year in which the
services are to be performed  with the  exception of a new hire. A new hire will
be allowed to participate in the Plan provided such employee  submits a Deferral
Agreement  Form  within 30 days of the date of hire.  In such an event,  the new
employee shall become a Participant on the first day of the first payroll period
beginning in the next calender quarter  following the date on which the Deferral
Agreement Form is submitted to the Plan  Administrator.  If a new employee fails
to submit a Deferred  Agreement Form within such 30 day period, the new employee
will not be allowed to  participate  in the Plan until the beginning of the next
Plan Year. A Participant's  Deferral  Agreement Form shall continue to remain in
effect for that Plan Year unless  terminated,  as provided in Section 2.3.  Each
Plan Year,  Participants  will be required to complete a new Deferral  Agreement
Form prior to the  commencement  of such Plan Year if they wish to defer  income
for that Plan Year.

2.3 Deferral Agreement Termination

The Participant  shall have the right to terminate his/her deferral upon written
notice to the Plan  Administrator.  The deferral  termination shall not apply to
Compensation  already earned.  Such termination  shall be effective on the first
day of the first payroll period beginning in the next calendar quarter following
the date on which the termination request is received by the Plan Administrator.
Once a termination  request has been submitted for a Plan Year, the  Participant
may not re-elect to defer any amounts under the Plan until the next Plan Year.

2.4 Establishment of Accounts

Each Participant shall have an account established by the Plan Administrator and
Participant  statements  will be  distributed to  Participants  in the Plan on a
quarterly  basis.  The Company will maintain an accrual for the aggregate amount
of deferred benefits under the Plan on the Company's accounting records.

2.5 Account Valuation and Earnings

The account established for each Participant under Section 2.4 will be valued on
a quarterly basis.  The deferred  benefit account for each Participant  shall be
adjusted  quarterly  to reflect a  reasonable  fixed  annual rate of interest as
determined  by the  Compensation  Committee.  This  rate  may  be  prospectively
adjusted  on an  annual or more  frequent  basis as  deemed  appropriate  by the
Compensation Committee.  The rate chosen by the Compensation Committee from time
to time shall apply to the entire balance of all Participants' accounts.

2.6 Benefit Payments

The account  established for each Participant under Section 2.4 shall be payable
to the  Participant as provided in the Deferral  Agreement Form. In the event of
any of the following  occurrences,  the account established for each Participant
under Section 2.4 shall be payable to the  Participant  or  Beneficiary no later
than 90 days  after the last day of the  month in which  the Plan  Administrator
receives notification that:


                                






(a)  the Participant  terminates employment with the Company and has not elected
     a future deferral payment date; or
(b) the Plan is terminated (unless a successor plan is instituted).

III. General Provisions

3.1 Funding

All amounts paid under the Plan shall be paid in cash from the general assets of
the Company.  Such amounts shall be reflected on the  accounting  records of the
Company,  but shall not be  construed  to create or require  the  creation  of a
trust, custodial account or escrow account. No Participant shall have any right,
title,  or  interest  in any  assets,  accounts  or funds that the  Company  may
establish to aid in providing  benefits  under the Plan or  otherwise.  The Plan
does not create a trust or establish  any  fiduciary  relationships  between the
Company and the  Participant  or  Beneficiary of the Plan, nor will any interest
other than that of an unsecured creditor exist.

3.2 Vesting

A Participant is always 100% vested in such  Participant's own contributions and
the earnings thereon.

3.3 In-Service Withdrawals

Except  as  described  in  this  Section  3.3,  the  date  upon  which  deferral
distributions  commence  and the  number of equal  annual  installments  payable
starting on such  commencement  date shall be  irrevocable.  The Participant may
request to receive an early  distribution  of all or a portion of the balance of
the  account  owed to the  Participant.  A  single-sum  payment  will be paid to
Participants  who request such  distribution.  An early  distribution  paid to a
Participant  shall result in a penalty equal to 10% of such early  distribution.
The Participant will forfeit all right, title and interest to an amount equal to
such penalty. The early distribution shall be paid to the Participant net of the
10% penalty and any required withholding taxes pursuant to Section 3.9.

Notwithstanding the preceding  paragraph,  any request for an early distribution
on  account  of an  "Unforeseeable  Emergency"  shall  not  bear  the 10%  early
distribution  penalty.  For  purposes  of this  Section  3.3,  an  Unforeseeable
Emergency is a severe  financial  hardship to the  Participant  resulting from a
sudden and unexpected  illness or accident of the  Participant or of a dependent
(as  defined  in  Section  152(a) of the Code) of the  Participant,  loss of the
Participant's  property  due to casualty,  or other  similar  extraordinary  and
unforeseeable   circumstances  beyond  the  control  of  the  Participant.   The
determination of whether a request for an early distribution is on account of an
Unforeseeable  Emergency  shall  be  made by the  sole  discretion  of the  Plan
Administrator who shall apply the standards  prescribed under Section 457 of the
Code.

Any early distribution on account of an Unforeseeable  Emergency may not be made
to the extent  such  hardship  is or may be  relieved  by (i)  reimbursement  or
compensation by insurance or otherwise,  (ii)  liquidation of the  Participant's
assets,  to the extent the  liquidation  of such assets  would not itself  cause
severe financial  hardship,  (iii) obtaining a loan either within the provisions
of the 401(k) Plans or from a


                                    





third  party  lender or (iv)  cessation  of  deferrals  under  the  Plan.  Early
distributions  because of an  Unforeseeable  Emergency will only be permitted to
the extent  reasonably  needed to satisfy the emergency  need in addition to any
amounts  necessary  to pay any federal,  state or local income taxes  reasonably
anticipated to result from the early distribution.

3.4 Beneficiary Designation

Each  Participant  shall have the right to  designate a  Beneficiary  to receive
death benefits  under the Plan. If no  Beneficiary  designation is made or if no
such designated  Beneficiary  survives the Participant,  the Plan  Administrator
shall direct benefit payments to be made to the  Participant's  spouse or to the
Participant's estate if no spouse is living.

3.5 Death Benefits

Death  benefits shall be paid as a single-sum to the  Participant's  Beneficiary
within 90 days after the last day of the month in which the later  event  occurs
(i) written notice is given to the Plan Administrator of Participant's death and
(ii) a proper Beneficiary has been determined by the Plan Administrator.

3.6 Administration

The  Plan  shall  be  administered  by the Plan  Administrator,  subject  to the
oversight of the Compensation Committee.  The Plan Administrator shall have full
power to construe,  administer  and  interpret  the Plan and full power to adopt
such  rules and  regulations  as  he/she  may deem  necessary  or  desirable  to
administer the Plan. Subject to Compensation Committee review, which decision to
review shall be in the sole discretion of the Compensation  Committee,  the Plan
Administrator's decisions are final and binding on all parties.

3.7 Administrative Fees and Expenses

All fees and expenses incurred by the Plan in connection with the administration
of the Plan shall be paid by the Company.

3.8 Claims Procedure

If  a  claim  for  benefits  by  a  Participant  or  his/her   Beneficiary  (the
"Applicant")  is denied,  the Plan  Administrator  shall  furnish the  Applicant
within 90 days after  receipt of such claim (or within 180 days after receipt if
the Plan  Administrator  notifies the  Applicant  prior to the end of the 90 day
period that  special  circumstances  require an  extension  of time),  a written
notice  which  specifies  the reason  for the  denial,  refers to the  pertinent
provisions of the Plan on which the denial is based,  describes  any  additional
material or information necessary for properly completing the claim and explains
why such material or  information  is  necessary,  and explains the claim review
procedures of this Section 3.8. If, within 60 days after receipt of such notice,
the Applicant so requests in writing,  the Plan Administrator  shall review such
decision.  The Plan Administrator's  decision on review shall be in writing, and
shall include specific reasons for the decision,  written in a manner calculated
to be understood by the Applicant,  and shall include specific references to the
pertinent  provisions  of the Plan on which the  decision is based.  It shall be
delivered  to the  Applicant  within 60 days  after the  request  for  review is
received, unless extraordinary


                                    





circumstances  require a longer period, but in no event more than 120 days after
the request for review is received.

3.9 Tax Liability

The Company will withhold all required taxes from any payment of benefits.

IV. Exempt Status

The Plan  constitutes  an  unfunded  supplemental  retirement  plan and is fully
exempt  from Parts 2, 3, and 4 of Title I of ERISA.  The Plan shall be  governed
and construed in accordance with Title I of ERISA.

V. Indemnification

The Plan Administrator,  employees,  officers and directors of the Company shall
not be held  liable  for,  and shall be  indemnified  and held  harmless  by the
Company  against,  any loss,  expense or  liability  relating  to the Plan which
arises from any action or determination made in good faith.

VI. Amendment and Termination

The Company has  established  the Plan with the  intention  and  expectation  to
maintain  the Plan for an  indefinite  period of time.  However,  Alberto-Culver
Company,  through  action by either the  Compensation  Committee or the Board of
Directors  of the  Alberto-Culver  Company,  reserves  the  right to amend or to
terminate the Plan at any time without  Participant or Beneficiary  consent.  No
amendment,   however,  may  reduce  the  balance  in  a  Participant's  account.
Participants  and   Beneficiaries   shall  be  notified  of  such  amendment  or
termination as soon as reasonably practical, but any delay in giving such notice
shall not affect the effectiveness of the amendment or termination.  The Company
shall have the absolute right to pay each Participant his/her entire interest in
the Plan in a single-sum upon termination of the Plan.

VII. Miscellaneous

7.1 Nonassignability

Neither a  Participant  nor any other  person  shall have any right to  commute,
sell, assign,  transfer,  pledge,  anticipate,  mortgage or otherwise  encumber,
transfer,  hypothecate  or convey in advance of actual  receipt the amounts,  if
any, payable hereunder,  or any part thereof, which are, and all rights to which
are, expressly declared to be nonassignable and nontransferable.  No part of the
amounts  payable  shall,  prior to actual  payment,  be subject to  garnishment,
seizure or  sequestration  for the payment of any debts owed by a Participant or
any other  person,  nor be  transferable  by  operation of law in the event of a
Participant's  or any other person's  bankruptcy or insolvency.  Notwithstanding
the foregoing,  the Company shall have the right to offset any amount owed to it
against the amount  payable to a  Participant  or his  Beneficiary,  or to defer
payment until any dispute with respect to any amount owed has been resolved.

7.2.  No Contract of Employment

The  terms and  conditions  of this Plan  shall  not be deemed to  constitute  a
contract of employment between the Company and the Participant,  and neither the
Participant nor the Participant's  Beneficiary shall have any rights against the
Company  except as may  otherwise be  specifically  provided  herein.  Moreover,
nothing  in this  Plan  shall be deemed  to give a  Participant  the right to be
retained in the service


                                




of the Company or to interfere with the right of the Company to discipline or
discharge him/her at any time.

7.3 Participant Litigation

In any action or  proceeding  regarding  the Plan,  Participants,  employees  or
former employees of the Company, their Beneficiaries or any other persons having
or claiming to have an interest in this Plan shall not be necessary  parties and
shall not be entitled to any notice or process.  Any final judgment which is not
appealed or appealable and may be entered in any such action or proceeding shall
be binding  and  conclusive  on the  parties  hereto and all  persons  having or
claiming to have any interest in this Plan.

7.4 Participant and Beneficiary Duties

Persons   entitled  to  benefits  under  the  Plan  shall  file  with  the  Plan
Administrator  from time to time such  person's  post  office  address  and each
change of post office  address.  Each such person entitled to benefits under the
Plan also shall furnish the Plan Administrator  with all appropriate  documents,
evidence,  data or information which the Plan Administrator  considers necessary
or desirable in administering the Plan.

7.5 Governing Law

The provisions of this Plan shall be construed and interpreted  according to the
laws of the State of  Illinois to the extent not  pre-empted  by the laws of the
United States.

7.6 Validity

In case any  provision  of this Plan shall be held  illegal  or invalid  for any
reason,  such  illegality  or invalidity  shall not affect the  remaining  parts
hereof,  but this Plan shall be  construed  and  enforced as if such illegal and
invalid provision had never been inserted herein.

7.7 Notices

Any notice or filing required or permitted to be given to the Plan Administrator
or the  Company  under  the Plan  shall be  sufficient  if in  writing  and hand
delivered, or sent by registered or certified mail to the Alberto-Culver Company
at its principal  executive offices attention Plan  Administrator with a copy to
the General Counsel of Alberto-Culver Company.  Notices shall be deemed given as
of the date of delivery or, if delivery is made by mail, as of the date shown on
the  postmark on the  receipt  for  registration  or  certification.  Any notice
required or permitted to be given to a  Participant  shall be  sufficient  if in
writing and hand delivered or sent by first class mail to the Participant at the
last address listed on the records of the Company.

7.8 Successors

The  provisions  of this Plan shall bind and inure to the benefit of Company and
its successors and assigns. The term successors as used herein shall include any
corporate  or  other   business   entity   which   shall,   whether  by  merger,
consolidation,  purchase or otherwise  acquire all or  substantially  all of the
business and assets of the Company,  and  successors of any such  corporation or
other business entity.