Exhibit 10.33


                           REMINGTON PRODUCTS COMPANY
                               1998 BONUS PROGRAM
Except  where  indicated,  the  program  would be  identical  to the 1997  Bonus
Program.

1.        In U.S., all exempt (not paid for overtime) employees participate.  In
          foreign operations, local standards dictate who receives bonus.


2. Target bonuses:

         a.       In US, target bonuses would be:

              Grade Level                            Target as % of Salary
         ----------------                            ---------------------
                  10                                          5%
                  11                                          5
                  12                                          5
                  13                                          5
                  14                                          5
                  15                                          5
                  16                                          7
                  17                                          10
                  18                                          15
                  19                                          20
                  20                                          25
                  21                                          30
                  22                                          35
                  23                                          40
                  24                                          45
                  25                                          50
                  26                                          55
                  27                                          60
                  28                                          65
                  29                                          70
                  30                                          75

         (b)        Outside U.S.,  target  bonuses run from 2% to maximum of 35%
                    (other than Hoddinott and Kimpton).

3.        For senior executives  (Castaldi,  Handler,  Hoddinott,  Kimpton, Lee,
          Linton, Lipson and Simmone) 50% of target bonus will be dependent upon
          performance  against EBITDA budget for entire company with  remainder,
          where applicable, dependent upon performance of managed business (i.e.
          retail,   UK,  Australia,   etc.)  against  EBITDA  budget.  At  level
          immediately  below  senior  executives,  25% of target  bonus  will be
          dependent upon  performance  of entire  company  against EBITDA budget
          with 75% dependent upon performance of applicable business.  At levels

                                        1

<PAGE>


          below direct  reports,  100% of bonus  dependent  upon  performance of
          applicable  business.  Target bonus for many people in the U.S.  (i.e.
          manufacturing  and finance) will be entirely  dependent upon worldwide
          results. NEW FOR 1998: CEO has discretion to provide that up to 20% of
          target bonus for any senior  executive  and for  individuals  in level
          immediately  below will be dependent  upon  achievement  of measurable
          personal goals.

4.        Sliding scale which cuts off at 90% of budgeted  EBITDA (no bonus paid
          below  90%) with no  maximum  for  portion  dependent  upon  worldwide
          results and a maximum of 200% for that portion of bonus dependent upon
          applicable business. The same scale would apply to that portion of the
          bonus  dependent  upon  achievement of a personal goal, i.e . no bonus
          paid  unless  90% of  goal  achieved  with a  maximum  of  200% of the
          possible.

5.        Payment scale:
             
          Achievement of Budget                       % of Target Bonus
               90%                                            50%
               95                                             75
              100                                            100
              100+                               Increases 2 points for every
                                                           point above 100


6.        The CEO has the authority to increase an individual's  bonus above the
          applicable amount and to grant a bonus to individuals not in the bonus
          program.

7.        Payment of bonus: Entire bonus paid upon completion of year-end audit.

8.        Individual  must be employed  by July 1st in order to be eligible  for
          bonus.  Any exception for grade level 18 and below must be approved by
          the Vice President  Administration  and by the CEO for any grade level
          above 18.

9.        Individual  must be  employed  at time of  bonus  payment  in order to
          receive. An exception is if employment is terminated for reasons other
          than "cause" after June 30th and before  payment of bonus,  individual
          will receive a proportionately  reduced bonus based upon the number of
          months  employed  during  the  fiscal  year.  "Cause is  defined as a)
          commission  of  an  act  of  fraud  or  embezzlement   (including  the
          unauthorized  disclosure of confidential or proprietary information of
          the Company or any of its subsidiaries which results in financial loss
          to the Company or any of its subsidiaries,  b) conviction of a felony,
          c) willful  misconduct which is reasonably  likely to result in injury
          or financial loss to the Company or any of its subsidiaries, or d) the
          willful  failure  to  render  services  to the  Company  or any of its
          subsidiaries  in  accordance  with  the  employee's  employment  which
          failure amounts to a material neglect of the employee's  duties to the
          Company or any of its subsidiaries.

                                        2

<PAGE>