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**Exhibit      (10)-rr**

**LETTER      WAIVER**

**Company**

**Guarantor**

**US$375,000,000      credit agreement dated 29 November 2005 (as amended) between (among others)      the      Company, the Guarantor and Citibank International plc as facility agent      (**
**Agreement)**

| **1.  ** | **Background** |
|--------------------|----------------|

| (a)   | This              letter is supplemental to and amends the              Agreement. |
|-----------------|------------------------------------------------------------------------------------|

| (b)   | Pursuant              to Clause 25 (Amendments and Waivers) of the Agreement, the Majority              Lenders have consented to the amendments to the Agreement contemplated              by              this letter. Accordingly, we are authorised to execute this letter              on              behalf of the Finance Parties. |
|-----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| **2.  ** | **Interpretation** |
|--------------------|--------------------|

| (a)   | Capitalised              terms defined in the Agreement have the same meaning when used in this              letter unless expressly defined in this              letter. |
|-----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (b)   | The              provisions of Clause 1.2 (Construction) of the Agreement apply to this              letter as though they were set out in full in this letter except that              references to the Agreement are to be construed as references to this              letter. |
|-----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (c)   | **Effective              Date**              means 31 January, 2007, provided that the Facility Agent shall have              given              notification to the Obligors that it has received a copy of this letter              countersigned by the Company and the Guarantor. |
|-----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| **3.  ** | **Amendments** |
|--------------------|----------------|

| (a)   | Subject              to subparagraph (b) below, the Agreement will be amended from the              Effective Date in accordance with subparagraph (c)              below. |
|-----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (b)   | The              Agreement will not be amended by this letter unless the Facility Agent              has              received a copy of this letter countersigned by the Company and the              Guarantor on or before the Effective Date. |
|-----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (c)   | The              Agreement will be amended as follows: |
|-----------------|--------------------------------------------------------|

| (i)   | Clause              19.5(a) (Cross-default) be amended by deleting the figure “US$50,000,000”              and replacing it with the figure              “US$70,000,000”; |
|-----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (ii)   | Clause              19.11(a)(ii) (BLIO Matters) of the Agreement shall be amended by deleting              the reference to “31 January 2007” in the last line thereof and replacing              it with “30 April 2007”; |
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| (iii)   | the              definition of **Confidential              Disclosures**              shall be amended by replacing “16 May, 2006” with “the date of this              letter”; |
|-------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (iv)   | the              definition of **Other              Announcements**              shall be amended as follows: |
|------------------|---------------------------------------------------------------------------------------------------------------|

|   | ** **(i)              deleting              the word “and” at the end of subparagraph (xxi); |
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|   | (ii)              deleting              the full stop after the words "9 November 2006 " at the end of              subparagraph (xxii) and replacing it with a semi-colon followed by              the              word “and”; and |
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|   | (iii)              inserting              new subparagraph (xxiii as follows: |
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|   | "(xxiii)              Current              Report on Form 8-K, filed 21 December, 2006 (grant of second additional              trading period from New York Stock Exchange (**NYSE**)              and compliance with certain NYSE corporate governance disclosure              requirements).”; and |
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| (v)   | the              definition of **Waiver              Termination Date**              in              Clause 19.11(b) of the Agreement shall be deleted in its entirety and              replaced with the following: |
|-----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

**Waiver      Termination Date**

|   | (ii)              the              date (if any) on which the trustee or holders of not less than 25 per              cent. of the principal amount of outstanding securities under any series              with an outstanding principal amount of at least US$50,000,000 under              the              Indenture have given to the Guarantor notice that the principal amount              of              such securities is due and payable immediately; |
|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (ii)the              effective date of any Form 25 to strike Guarantor’s securities from              listing filed by NYSE with the SEC as a result of Guarantor’s failure to              file its 2005 10-K within additional trading periods granted by the              NYSE;              and |
|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (iii)the              date on which the Guarantor’s 2006 annual report on Form 10-K is filed              with the SEC.". |
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| **4.  ** | **Guarantee** |
|--------------------|---------------|

| (a)   | agrees              to the amendment of the Agreement as contemplated by this letter;              and |
|-----------------|--------------------------------------------------------------------------------------------------------|

| (b)   | with              effect from the Effective Date, confirms that the guarantee given by              it              under the Agreement will: |
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| (i)   | continue              in full force and effect; and |
|-----------------|-----------------------------------------------------|

| (ii)   | extend              to the liabilities and obligations of the Company to the Finance Parties              under the Finance Documents as amended by this              letter. |
|------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| **5.  ** | **Further              Waiver** |
|--------------------|---------------------------------|

| (a)       | The              Guarantor’s 2005 annual report on Form 10-K will contain financial              statements for 2005 and restated financial statements for certain prior              periods, including but not limited to the Guarantor’s 2004 fiscal year.              Accordingly, in addition to the BLIO Matters and Other Matters not              resulting in or constituting a breach of the Agreement or Default during              the Waiver Period, as set forth in Clause 19.11(a), the              Majority Lenders further agree,              upon the filing of that annual report on Form 10-K, in accordance with              the              terms of this letter, that any representation under Clauses 16.6              (Financial statements) and 16.11 (Compliance with laws) of the Agreement              which is incorrect in any material respect, or any breach of the covenants              of Clauses 17.2 (Compliance with laws) (as              related to filings required by the Trust Indenture Act of 1939 (the“TIA”)              for fiscal years 2004 and 2005),              17.7 (Maintenance of accounts) and 17.10 (Reporting requirements) or              any              Default arising therefrom, with respect to periods covered by the 2005              10-K, shall be permanently and irrevocably waived, to the extent related              to the matters described in the BLIO Announcements, Other Announcements              or              Confidential Disclosures. |
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|        (b) |   | The                Guarantor’s 2006 annual report on Form 10-K will contain selected                quarterly financial statements for fiscal year 2006. Accordingly,                in                addition to the BLIO Matters and Other Matters not resulting in or                constituting a breach of the Agreement or Default during the Waiver                Period, as set forth in Clause 19.11(a), the Majority Lenders further                agree,                upon the filing of that annual report on Form 10-K, in accordance                with the                terms of this letter, that any representation under Clause 16.11                (Compliance with laws) of the Agreement which is incorrect in any                material                respect, or any breach of the covenants of Clauses 17.2 (Compliance                with                laws) (as                related to filings required by the Trust Indenture Act of 1939 (the                “TIA”)) for fiscal year 2006,                17.7 (Maintenance of accounts) and 17.10 (Reporting requirements)                or any                Default arising therefrom, respect                to periods covered by 2006 10-K,                shall be permanently and irrevocably waived, to the extent related                to the                matters described in the BLIO Announcements, Other Announcements                or                Confidential Disclosures. |
|------------------------------------------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| **6.  ** | **Amendment              fee** |
|--------------------|--------------------------------|

| (a)   | In              further consideration for the matters contemplated by this letter,              the              Company must pay to the Facility Agent for the account of the Lenders              which consented on or before the date of this letter to the amendments              to              the Agreement contemplated by this letter (the **Consenting              Lenders**)              a              monthly fee equal to 0.10 per cent. of the total Commitments of the              Consenting Lenders. The first such monthly fee shall be payable no              later              than February              1, 2007, and subsequent monthly fees shall be payable no later than              March              1, 2007 and April 2, 2007; provided, however, in the event Guarantor              files              its 2006 Form 10-K on or before February 28, 2007, then it will have              not              obligation to make the March and April payments, and if the Guarantor              files its 2006 Form 10-K on or before March 31, 2007, then it will              have no              obligation to make the April payment. Payments              will be made to the account notified to the Company by the Facility              Agent              for this purpose. |
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| (b)   | All              amounts payable under this letter are exclusive of any value added              tax or              other taxes of any nature and will not be subject to counterclaim or              set-off for, or be otherwise affected by, any claim or dispute relating              to              any matter whatsoever and all such payments shall be made free and              clear              and without deduction for or on account of any present or future taxes,              charges, deductions or withholdings. |
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| **7.  ** | **Miscellaneous** |
|--------------------|-------------------|

| (a)   | This              letter is a Finance Document and a Fee              Letter. |
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| (b)   | From              the Effective Date, the Agreement and this letter will be read and              construed as one document. |
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| (c)   | Except              as otherwise provided in this letter, the Finance Documents remain              in full              force and effect. |
|-----------------|--------------------------------------------------------------------------------------------------------------------------------------------|

| (d)   | Except              to the extent expressly waived in this letter, no waiver of any provision              of any Finance Document is given by the terms of this letter and the              Finance Parties expressly reserve all their rights and remedies in              respect              of any breach of, or other Default under, the Finance              Documents. |
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| **8.  ** | **Governing              law** |
|--------------------|--------------------------------|

**CITIBANK      INTERNATIONAL PLC**

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**BAUSCH      & LOMB B.V.**

**BAUSCH      & LOMB INCORPORATED**