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                                                                   EXHIBIT 10.41

                      EXECUTIVE DEFERRED COMPENSATION PLAN
                            OF SAFESKIN CORPORATION

                                   RECITALS:

     A.   Safeskin Corporation (the "Company") hereby establishes the Executive
Deferred Compensation Plan of Safeskin Corporation (the "Plan") on the terms
and conditions hereinafter set forth.

     B.   The Plan is intended to qualify as a "top hat" plan maintained
primarily for purposes of providing benefits for a select group of management
and highly compensated employees within the meaning of Sections 201(2),
301(a)(3) and 401(a)(1) of the Employee Retirement Income Security Act of 1974,
as amended.

                                   ARTICLE I
                                    GENERAL

     SECTION 1.1 PURPOSE OF THE PLAN. The purpose of this Plan is to reward
certain management and highly compensated employees of the Company who have
contributed to the Company's success and are expected to continue to contribute
to such success in the future. The Plan generally provides selected employees
of the Company with the opportunity to defer a portion of their regular and/or
incentive compensation on the terms and conditions set forth herein.

     SECTION 1.2 EFFECTIVE DATE. The effective date of the Plan is September
15, 1997.

     SECTION 1.3 GENDER AND NUMBER. For purposes of interpreting the provisions
of this Plan, the masculine gender shall be deemed to include the feminine, the
feminine gender shall be deemed to include the masculine, and the singular
shall include the plural unless otherwise clearly required by the context.

                                   ARTICLE II
                                  DEFINITIONS

     SECTION 2.1 ACCOUNT. Account means the account maintained by the Employer
for each Executive in accordance with Section 3.2.

     Section 2.2 Base Salary. Base Salary means the base salary of each
Executive as of January 1 of each Plan Year (including for this purpose salary
reduction contributions pursuant to this Plan and any Employer-sponsored plan
governed by Section 401(k) or 125 of the Internal Revenue Code of 1986, as
amended.)
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     SECTION 2.3 BENEFICIARY. Beneficiary means the person or persons designated
by a Participant as his or her beneficiary hereunder in accordance with the
provisions of Article V.

     SECTION 2.4 BOARD. Board means the Board of Directors of the Company.

     SECTION 2.5 BONUS. Bonus means any cash bonus payable to an Executive with
respect to services performed by the Executive during a Plan Year, regardless of
whether the bonus is actually paid during such Plan Year.

     SECTION 2.6 CHANGE IN CONTROL. Change in Control means the happening of any
of the following:

        (A) any person or entity, including a "group" as defined in Section
13(d)(3) of the Securities Exchange Act of 1934, other than the Company or a
wholly-owned subsidiary thereof or any employee benefit plan of the Company or
any of its Subsidiaries, becomes the beneficial owner of the Company's
securities having 20% or more of the combined voting power of the then
outstanding securities of the Company that may be cast for the election of
directors of the Company (other than as a result of an issuance of securities
initiated by the Company in the ordinary course of business); or

        (b) as the result of, or in connection with, any cash tender or exchange
offer, merger or other business combination, sale of assets or contested
election, or any combination of the foregoing transactions less than a majority
of the combined voting power of the then outstanding securities of the Company
or any successor corporation or entity entitled to vote generally in the
election of the directors of the Company or such other corporation or entity
after such transaction are held in the aggregate by the holders of the Company's
securities entitled to vote generally in the election of directors of the
Company immediately prior to such transaction; or

        (c) during any period of two consecutive years, individuals who at the
beginning of any such period constitute the Board cease for any reason to
constitute at least a majority thereof, unless the election, or the nomination
for election by the Company's stockholders, of each director of the Company
first elected during such period was approved by a vote of at least two-thirds
of the directors of the Company then still in office who were directors of the
Company at the beginning of any such period.

     SECTION 2.7 COMMITTEE. Committee means the Compensation Committee of the
Board.

     SECTION 2.8 COMPANY. Company means Safeskin Corporation.

     SECTION 2.9 DEFERRED COMPENSATION BENEFIT. Deferred Compensation Benefit
has the meaning ascribed to it in Section 3.1(b)hereof.
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        SECTION 2.10  EMPLOYER.  Employer means the Company and any Subsidiary
of the Company which, with the written consent of the  Company, adopts the 
Plan.

        SECTION 2.11  EXECUTIVE DEFERRALS.  Executive Deferrals has the meaning
ascribed to it in Section 3.1(a) hereof.

        SECTION 2.12  EXECUTIVE.  Executive means a management or highly
compensated employee of the Employer designated by the Chief Executive Officer
of the Company (subject to approval by the Committee) as eligible to
participate in the Plan. The Committee may from time to time, in its sole
discretion with or without cause, revoke an Executive's eligibility to
participate in the Plan upon ninety (90) days' written notice; provided,
however, that such revocation shall not reduce any Deferred Compensation
Benefits to which the Executive may be entitled at the time of such revocation.

        SECTION 2.13  INSOLVENCY.  Insolvency means, with respect to the
Employer, (a) an adjudication of bankruptcy, (b) the assignment for the benefit
of creditors of or by the Employer, (c) the subjection of any part of all of
the property of the Employer to the control and direction of a receiver, which
receivership is not dismissed within sixty (60) days of such receiver's
appointment, or (d) the filing by the Employer of a petition for relief under
any federal or other bankruptcy or other insolvency law or for an arrangement
with creditors.

        SECTION 2.14  MATCHING CONTRIBUTIONS.  Matching Contributions has the
meaning ascribed to it in Section 3.1(b) hereof.

        SECTION 2.15  PARTICIPANT.  Participant means any Executive who elects
to participate in the Plan by making Executive Deferrals hereunder.

        SECTION 2.16  PAYMENT DATE(S).  Payment Date(s) has the meaning
ascribed to it in Section 3.1(d) hereof.

        SECTION 2.17  PLAN.  Plan means the Executive Deferred Compensation
Plan of Safeskin Corporation, as amended.

        SECTION 2.18  PLAN YEAR.  Plan Year means the calendar year, except
that the first Plan Year shall commence September 15, 1997 and end December
31, 1997.

        SECTION 2.19  SUBSIDIARY.  Subsidiary means any corporation (other than
the Company) in an unbroken chain of corporations beginning with the Company if
each of the corporations (other than the last corporation in the unbroken
chain) owns stock possessing more than 50% of the total combined voting power
of all classes of stock in one of the other corporations in the chain.

        SECTION 2.20  UNFORESEEABLE EMERGENCY.  Unforeseeable Emergency means
an event which results (or will result) in severe financial hardship to the
Participant as a consequence of an


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unexpected illness or accident of the Participant or a dependent of the
Participant (as determined under Section 152(a) of the Internal Revenue Code of
1986, as amended) or loss of the Participant's property due to casualty or
other similar extraordinary or unforeseen circumstances out of the control of
the Participant. Examples of what is not considered to be an Unforeseeable
Emergency include the need to send a Participant's child to college and the
desire to purchase a home.

                                  ARTICLE III
                         DEFERRED COMPENSATION BENEFITS

     SECTION 3.1    DEFERRED COMPENSATION BENEFITS

     (a)  Executive Deferrals. From time to time but not less often than
annually, each Executive may file written election with the Committee (in
accordance with subparagraph (f) below) directing the Employer to reduce his
Base Salary and/or Bonus as described herein and to credit the amount of any
such reduction (the "Executive Deferrals") to the Account described in Section
3.2 as provided therein. Each Executive may defer up to 50% of his Base Salary
and up to 100% of his Bonuses hereunder.

     (b)  Employer Matching Contributions. From time to time, there shall be
credited to the Account of each Executive an amount equal to a percentage of
such Executive's Elective Deferrals, such percentage to be determined by the
Committee in its discretion (the "Matching Contributions" and collectively with
the Executive Deferrals, the "Deferred Compensation Benefits").

     (c)  Vesting. The Executive shall at all times be 100% vested in Executive
Deferrals credited to his Account, and termination of the Executive's employment
with the Company for any reason shall not in any way diminish the  Executive's
right to such deferrals. The Executive shall become vested in Matching
Contributions credited to his Account in accordance with such terms and
conditions as the Committee may from time to time establish; provided, however,
that the Executive shall become 100% vested in the non-vested portion of such
Matching Contributions upon the occurrence of a Change in Control; except that
the Executive shall not become vested upon the occurrence of a Change in
Control to the extent such vesting would cause any portion of the Deferred
Compensation Benefits to constitute an "excess parachute payment" under
Section 280G of the Internal Revenue Code of 1986, as amended. For purposes
hereof, the Board shall determine in its sole discretion whether and to what
extent any Deferred Compensation Benefits constitute "excess parachute
payments" hereunder.

     (d)  Payment Dates. Each deferral election described in subparagraph (a)
above shall also contain the Executive's election regarding the time or times
of the payment of the portion of his Deferred Compensation Benefits to which
such election relates (the "Payment Date" or "Payment Date"); provided, however,
that:

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          (i)  the Executive shall not be entitled to receive distribution of
     any portion of his Deferred Compensation Benefits prior to the earlier of
     (A) sixty (60) days after termination of the Executive's employment by the
     Employer for any reason, or (B) the Executive's attaining age fifty five
     (55); and

          (ii) if an Executive (as permitted by the Committee pursuant to
     subparagraph (e)(ii) below) elects to receive such Deferred Compensation
     Benefits in installment payments, all such installment payments must
     commence on the same Payment Date and must be payable over the same number
     of months.

     (e)  Form of Payment. Each deferral election described in subparagraph (a)
above shall also contain the Executive's election regarding the form of payment
of the portion of his Account to which such election applies. In each election
form, the Executive may elect to receive payment of the portion of his Account
to which such election applies in one or a combination of the following forms:

          (i)  a lump sum payment; or

          (ii) to the extent permitted by the Committee in its discretion, in
     equal monthly installments over a period not exceeding sixty (60) months.

     (f)  Deferral Elections; Modifications. Each deferral election described
in subparagraph (a) above shall be made at such time and in such manner as
determined by the Committee but in no event later than ten (10) days prior to
the beginning of the calendar year for which it is to be effective; provided,
however, that in the initial Plan Year, or the year in which an Executive first
becomes eligible to participate in the Plan, such election may be made within
thirty (30) days after the Plan becomes effective or the Executive becomes
eligible to participate, as the case may be. Except as otherwise provided in
the preceding sentence, an Executive may defer hereunder only Base Salary that
is earned, and Bonuses  that are fixed and paid, on and after the date the
election is filed with the Committee. Unless otherwise provided herein or on an
election form, (i) any elections made pursuant to subparagraphs (a), (d) and
(e) above shall remain in effect until changed or terminated by the Executive
by written notice delivered to the Committee (in accordance with rules
established by the Committee), and (ii) any elections made pursuant to
subparagraphs (d) and (e) above shall be irrevocable as to any Deferred
Compensation Benefits that accrue while such elections are in effect.
Notwithstanding the foregoing:

                    (A)   a deferral election pursuant to subparagraph (a)
     above shall automatically terminate on the earliest to occur of (1) the
     termination of the Executive's employment by an Employer for any reason,
     (2) the Insolvency of the Executive's Employer, (3) the determination by
     the Committee that the Executive is no longer eligible to participate in
     the Plan, (4) the termination of the Plan, or (5) a Change in Control; and

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               (B)  if permitted by the Committee in its discretion, an
          Executive may change any Payment Date(s) previously designated by the
          Executive pursuant subparagraph (d) above, provided that (1) the new
          Payment Date(s) must be later in time than the Payment Date(s)
          previously designated, (2) the Executive files an election designating
          the new Payment Date(s) not later than one year prior to the date the
          Executive would otherwise begin receiving Deferred Compensation
          Benefits hereunder, and (3) the new Payment Date(s) designated by the
          Executive otherwise comply with the requirements of subparagraph (d)
          above.

          SECTION 3.2 PARTICIPANT'S ACCOUNTS.  Each Employer shall establish
and maintain an Account for each Participant, which shall be credited for
Executive Deferrals and Matching Contributions and debited for any
distributions of Deferred Compensation Benefits. No Participant shall be
entitled to interest or other earnings on amounts credited to his Account.

                                   ARTICLE IV
                    DISTRIBUTION OF BENEFITS TO PARTICIPANTS

          SECTION 4.1  TIME AND MANNER OF PAYMENT.

          (a)  Timing. Except as otherwise provided or permitted by the Plan,
Deferred Compensation Benefits shall be paid (or commence to be paid) to the
Participant on the Payment Date(s) specified in the Participant's deferral
election form.

          (b)  Form. Except as otherwise provided or permitted by the Plan,
Deferred Compensation Benefits shall be paid to the Participant in the form
specified in the Participant's deferral election form.

          (c)  Unforeseeable Emergency Distributions. Notwithstanding the
foregoing, the Committee may at any time, upon written request of the
Participant, cause to be paid to such Participant an amount equal to all or any
part of such Participant's Account if the Committee determines, in its absolute
discretion based on such reasonable evidence that it shall require, that such a
payment or payments is necessary for the purpose of alleviating the
consequences of an Unforeseeable Emergency occurring with respect to the
Participant. Payments of amounts because of an Unforeseeable emergency shall be
permitted only to the extent reasonably necessary to satisfy the emergency need
and shall not be permitted to the extent such need may be relieved through
reimbursement or compensation or otherwise, by liquidation of the Participant's
assets (to the extent liquidation would not itself cause severe financial
hardship), or by the cessation of deferrals under the Plan.

          (d)  Small Accounts. If a Participant's Account is less than $20,000
at the time of the termination of the Participant's employment by the Employer,
such Participant's Deferred
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Compensation Benefits shall automatically be paid to him in a single lump sum 
payment as soon as practicable following his termination of employment.

     (e)  Withholding. Because the Executive Deferrals are considered wages for
purposes of the Federal Insurance Contribution Act (FICA), the Company shall
withhold from a Participant's Base Salary or Bonus such amounts as are necessary
to satisfy its withholding obligations thereunder as to such Executive
Deferrals. In addition, the Employer shall deduct from any distributions
hereunder any taxes or other amounts required by law to be withheld therefrom.

     SECTION 4.2  EXPENSES; LIABILITY FOR BENEFITS.  The Company and each
Subsidiary which adopts the Plan shall be liable for the payment of the
Deferred Compensation Benefits which are payable hereunder to its employees and
for its pro rata portion of the expenses of administering the Plan, as
determined by the Committee.

                                   ARTICLE V
                                 BENEFICIARIES

     SECTION 5.1  BENEFICIARY DESIGNATIONS.  A designation of a Beneficiary
hereunder may be made only by an instrument (in form acceptable to the
Committee) signed by the Participant and filed with the Committee prior to the
Participant's death. In the absence of such a designation and at any other time
when there is no existing Beneficiary designated hereunder, the Beneficiary of
a Participant shall be his estate. A person designated by a Participant as his
Beneficiary who or which ceases to exist shall not be entitled to any part of
any payment thereafter to be made to the Participant's Beneficiary unless the
Participant's designation specifically provides to the contrary. If two or more
persons designated as a Participant's Beneficiary are in existence with respect
to a single Deferred Compensation Benefit, the amount of any payment to the
Beneficiary under this Plan shall be divided equally among such persons, unless
the Participant's designation specifically provided to the contrary.

     SECTION 5.2  CHANGE IN BENEFICIARY.  A Participant may, at any time and
from time to time, change a Beneficiary designation hereunder without the
consent of any existing Beneficiary or any other person. Any change in
Beneficiary shall be made by giving written notice thereof to the Committee and
any change shall be effective only if received by the Committee prior to the
death of the Participant.

     SECTION 5.3  DISTRIBUTIONS TO BENEFICIARIES.  The Beneficiary or
Beneficiaries of a Participant shall be entitled to receive the unpaid Deferred
Compensation Benefits to which the Participant was entitled at his death
payable in a lump sum as soon as practicable following the date of the
Participant's death.



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                                   ARTICLE VI
                                 MISCELLANEOUS


        SECTION 6.1  LIABILITY OF EMPLOYER.  Nothing in this Plan shall
constitute the creation of a trust or other fiduciary relationship between an
Employer and any Participant, Beneficiary or any other person.

        SECTION 6.2  OWNERSHIP OF ASSETS; RELATIONSHIP WITH COMPANY.
Notwithstanding anything herein to the contrary, Participants shall have no
right, title or interest whatsoever in or to the Accounts or the Deferred
Compensation Benefits. Nothing contained in the Plan, and no action taken
pursuant to its provisions, shall create or be construed to create a trust of
any kind or a fiduciary relationship between the Company and any Participant or
any other person. To the extent that any person acquires a right to receive
payments from the Company under this Plan, such right shall be no greater than
the right of an unsecured general creditor of the Company.

        SECTION 6.3  NO GUARANTEE OF EMPLOYMENT.  Nothing in this Plan shall be
construed as guaranteeing future employment to any Participant. Except as
otherwise set forth in a written agreement, an Executive who elects to become a
Participant continues to be an employee of an Employer solely at the will of
such Employer subject to discharge at any time, with or without cause.

        SECTION 6.4  PAYMENT TO GUARDIAN.  If a benefit payable hereunder is
payable to a minor, to a person declared incompetent or to a person incapable
of handling the disposition of his property, the Committee may direct payment
of such benefit to the guardian, legal representative or person having the care
and custody of such minor, incompetent or person. The Committee may require
such proof of incompetency, minority, incapacity or guardianship as it may deem
appropriate prior to distribution of the benefit. Such distribution shall
completely discharge the Employers from all liability with respect to such
benefit. 

        SECTION 6.5  ASSIGNMENT.  No right or interest under this Plan of any
Participant or Beneficiary shall be assignable or transferable in any manner or
be subject to alienation, anticipation, sale, pledge, encumbrance or other
legal process or in any manner be liable for or subject to the debts or
liabilities of the Participant or Beneficiary.

        SECTION 6.6  SEVERABILITY.  If any provision of this Plan or the
application thereof to any circumstance(s) or person(s) is held to be invalid
by a court of competent jurisdictions, the remainder of the Plan and the
application of such provision to other circumstances or persons shall not be
affected thereby.

        SECTION 6.7  TOP HAT PLAN.  The Plan is intended to qualify as a "top
hat" plan maintained primarily for purposes of providing benefits for a select
group of management and highly compensated employees within the meaning of
Sections 201(2), 301(a)(3) and 401(a)(1) of ERISA.


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                                  ARTICLE VII
                             ADMINISTRATION OF PLAN

     SECTION 7.1 ADMINISTRATION.

     (a)  General. The Plan shall be administered by the Committee. The
Committee shall have sole and absolute discretion to interpret where necessary
all provisions of the Plan (including, without limitation, by supplying
omissions from, correcting deficiencies in, or resolving inconsistencies or
ambiguities in, the language of the Plan), to determine the rights and status
under the Plan of Participants, Executives, or other persons, to resolve
questions or disputes arising under the Plan and to make any determinations
with respect to the benefits payable under the Plan and the persons entitled
thereto as may be necessary for the purposes of the Plan. The Committee's
determination of the rights of any employee or former employee hereunder shall
be final and binding on all persons, subject only to the claims procedures
outlined in Section 7.3 hereof.

     (b)  Delegation of Duties. The Committee may delegate any of its
administrative duties, including, without limitation, duties with respect to
the processing, review, investigation, approval and payment of Deferred
Compensation Benefits, to a named administrator or administrators.

     SECTION 7.2 REGULATIONS. The Committee may promulgate any rules and
regulations it deems necessary in order to carry out the purposes of the Plan
or to interpret the provisions of the Plan; provided, however, that no rule,
regulation or interpretation shall be contrary to the provisions of the Plan.
The rules, regulations and intepretations made by the Committee shall, subject
only to the claims procedure outlined in Section 7.3 hereof, be final and
binding on all persons.

     SECTION 7.3 ERISA PROVISIONS. The Committee shall determine the rights of
any employee or former employee to any Deferred Compensation Benefits
hereunder. Any employee or former employee who believes that he has not
received the Deferred Compensation Benefits to which he is entitled under the
Plan may file a claim in writing with the Committee. The Committee shall, no
later than 90 days after the receipt of a claim (plus an additional period of
90 days if required for processing, provided that notice of the extension of
time is given to the claimant within the first 90 day period), either allow or
deny the claim in writing. If a claimant does not receive written notice of the
Committee's decision on his claim within the above-mentioned period, the claim
shall be deemed to have been denied in full.

     A denial of a claim by the Committee, wholly or partially, shall be
written in a manner calculated to be understood by the claimant and
shall include:

     (a)  the specific reasons for the denial;

     (b)  specific reference to pertinent Plan provisions on which the denial
is based;      
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     (c)  a description of any additional material or information necessary for 
the claimant to perfect the claim and an explanation of why such material or
information is necessary; and

     (d)  an explanation of the claim review procedure.

     A claimant whose claim is denied (or his duly authorized representative)
may within 60 days after receipt of denial of a claim file with the Committee a
written request for a review of such claim. If the claimant does not file a
request for review of his claim within such 60-day period, the claimant shall
be deemed to have acquiesced in the original decision of the Committee on his
claim. If such an appeal is so filed within such 60 day period, the Company (or
its delegate) shall conduct a full and fair review of such claim. During such
review, the claimant shall be given the opportunity to review documents that
are pertinent to his claim and to submit issues and comments in writing.

     The Company shall mail or deliver to the claimant a written decision on
the matter based on the facts and the pertinent provisions of the Plan within
60 days after the receipt of the request for review (unless special
circumstances require an extension of up to 60 additional days, in which case
written of such extension shall be given to the claimant prior to the
commencement of such extension). Such decision shall be written in a manner
calculated to be understood by the claimant, shall state the specific reasons
for the decision and the specific Plan provisions on which the decision was
based and shall, to the extent permitted by law, be final and binding on all
interested persons. If the decision on review is not furnished to the claimant
within the above-mentioned time period, the claim shall be deemed to have been
denied on review.

     SECTION 7.4  REVOCABILITY OF COMMITTEE/COMPANY ACTION.  Any action taken
by the Committee or the Company with respect to the rights or benefits under
the Plan of any employee or former employee shall be revocable by the Committee
or the Company as to payments not yet made to such person, and acceptance of
any Deferred Compensation Benefits under the Plan constitutes acceptance of
and agreement to the Committee's or the Company's making any appropriate
adjustments in future payments to such person (or to recover from such person)
any excess payment or underpayment previously made to him.

     SECTION 7.5  AMENDMENT.  The Board may at any time (without the consent
of any Subsidiary which adopts the Plan) amend any or all of the provisions of
this Plan, except that no such amendment may (a) reduce the balance of any
Participant's Account upon a "Change in Control, without the prior written
consent of such Participant. Any amendment shall be in the form of a written
instrument executed by an officer of the Company pursuant to a resolution
adopted by the Board. Subject to the foregoing provisions of this Section 7.5,
such amendment shall become effective as of the date specified in such
instrument or, if no such date is specified, on the date of its execution.

     SECTION 7.6.  TERMINATION.  The Board, in its discretion (without the
consent of any Subsidiary which adopts the Plan), may terminate this Plan at
any time and for any reason



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whatsoever, except that no such termination may (a) reduce the balance of any
Participant's Account as of the date of such termination or (b) change the
provisions of the Plan applicable to a Participant's Account upon a Change in
control, without the prior written consent of such Participant. Any such
termination shall be expressed in the form of a written instrument executed by
an officer of the Company pursuant to a resolution adopted by the Board of
Directors. Subject to the foregoing provisions of this Section 7.6, such
termination shall become effective as of the date specified in such instrument
or, if no such date is specified, on the date of its execution. Written notice
of any termination shall be given to the Participants as soon as practicable
after the instrument is executed.

     Executed this 15th day of September, 1997.

                                        SAFESKIN CORPORATION



                                        By:  /S/ David L. Morash
                                        ---------------------------------------
                                        Title:  Executive Vice President and
                                                Chief Financial Officer







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