Document:

2003 Stock Option Plan for Non-Employee Directors

 EXHIBIT 10 (h) 
 ALBERTO-CULVER COMPANY 
 2003 STOCK OPTION PLAN 
 FOR NON-EMPLOYEE DIRECTORS 
 (as
amended through October 26, 2006) 
  

 1.     Purpose.   The principal purpose of the 2003 Stock Option Plan for Non-Employee Directors (the “Director Plan”) is to benefit
Alberto-Culver Company (the “Company”) and its subsidiaries by offering its non-employee directors an opportunity to become holders of the Company’s Common Stock, par value $.22 per share (“Common Stock”), in order to enable
them to represent the viewpoint of other stockholders of the Company more effectively and to encourage them to continue serving as directors of the Company. 
 2.     Administration.   The Director Plan shall be administered by the Board of Directors, whose interpretation of the terms and provisions of the
Director Plan shall be final, conclusive and binding. No member of the Board of Directors shall be liable for any action or determination made in good faith with respect to the Director Plan or any option thereunder. 
 3.     Eligibility.   Options shall be granted under this Director Plan only to members of the
Board of Directors who are not officers or employees of the Company or any of its subsidiaries. 
 4.     Granting of Options. 
 (a)  An option to purchase 7,500 shares of
Common Stock from the Company shall be automatically granted by the Board of Directors, without further action required, to each director of the Company upon his or her initial election or appointment as a director of the Company (“Initial
Grant”); provided such director is eligible at that time under the terms of paragraph 3 of this Director Plan. No person may be granted more than one option pursuant to this paragraph 4(a) of this Director Plan. 
 (b)  An option to purchase 3,750 shares of Common Stock from the Company shall be automatically granted by the Board of
Directors, without further action required, at every Annual Meeting of the Stockholders of the Company commencing on the Annual Meeting of the Stockholders of the Company scheduled to occur in January, 2003, to each director of the Company
(“Subsequent Grant”); provided such director is eligible at that time under the terms of paragraph 3 of this Director Plan. No director who has received an Initial Grant (whether under this Director Plan or the 1994 Stock Option Plan for
Non-Employee Directors) shall be entitled to receive a Subsequent Grant during the same fiscal year of the Company. 
 (c)  An aggregate of 225,000 shares of Common Stock shall be available under this Director Plan. Such number of shares, and the number of shares subject to options outstanding under this Director Plan, shall be subject in all
cases to adjustment as provided in paragraph 10. Shares subject to options may be made available from unissued or treasury shares of stock. If any option 

  

 1 

 
granted under the Director Plan shall terminate or be surrendered or expire unexercised, in whole or in part, the shares so released from such option may be
made the subject of additional options granted under the Director Plan. 
 (d)   Nothing contained in this Director
Plan or in any option granted pursuant hereto shall confer upon any optionee any right to continue serving as a director of the Company or interfere in any way with any right of the Board of Directors or stockholders of the Company to remove such
director pursuant to the certificate of incorporation or by-laws of the Company or applicable law. 
 5.     Option Price.   Subject to adjustment under paragraph 10, the option price shall be the Fair Market Value (as defined below) of the Company’s Common Stock on the date the option is
granted. For purposes of the Director Plan, “Fair Market Value” shall mean the average of the high and low transaction prices of a share of Common Stock as reported in the New York Stock Exchange Composite Transactions on the date as of
which such value is being determined or, if there shall be no reported transactions for such date, on the next preceding date for which transactions were reported. 
 6.     Duration of Options, Increments and Extensions.   Subject to the provisions of paragraph 8, each option shall be for a term of ten
(10) years. Subject to the provisions of paragraph 11, each option shall become exercisable with respect to 25% of the total number of shares on the day preceding the one (1) year anniversary of the date of grant and with respect to an
additional 25% at the end of each twelve-month period thereafter during the succeeding three years. 
 7.     Exercise of Option.   An option may be exercised by giving written notice to the Company specifying the number of shares of Common Stock to be purchased, accompanied by the full purchase
price for such number of shares, (i) in cash, (ii) by check, (iii) by delivery of previously owned shares of Common Stock, or (iv) by a combination of these methods of payment. However, under no circumstances may any optionee
deliver previously owned shares of Common Stock obtained from the exercise of options under any stock option plan of the Company during the six months immediately preceding the exercise date. The per share value of the Common Stock delivered in
payment of the option price shall be the Fair Market Value of the Common Stock on the date of exercise. 
 8.     Termination - Exercise Thereafter. 
 (a)  If an optionee dies
without having fully exercised his or her options, the executors or administrators of his or her estate or legatees or distributees shall have the right during the one (1) year period following his or her death (but not after the expiration of
the term of any such options) to exercise such options in whole or in part but only to the extent that the optionee could have exercised each such option at the date of his or her death. 
 (b)  If any optionee resigns from the Board of Directors due to disability or retirement, the optionee’s options shall
terminate one (1) year after his or her resignation (but not after the expiration of the term of any such option) and may be exercised only to the extent that such optionee could have exercised each such option at the date of his or her
resignation. Notwithstanding the previous sentence, for options granted on or after January 27, 2005, if any optionee resigns from the Board of Directors due to disability or retirement, the optionee’s options shall terminate one
(1) year 

  

 2 

 
after his or her resignation (but not after the expiration of the term of any such option) and may be exercised only to the extent that such optionee could
have exercised each such option as of the last day of the month of his or her resignation. 
 (c)  
If the optionee’s termination from service on the Board of Directors is for any reason other than death, disability or retirement, the optionee’s options shall terminate upon said termination; provided, however, that if such termination
occurs following a Change in Control (as such term is defined in paragraph 11(b) hereof), the optionee’s options shall terminate three (3) months after his or her termination (but not after the expiration of the term of any such option).

 9.     Non-Transferability of Options.   No option shall be transferable by the
optionee otherwise than by will or the laws of descent and distribution, and each option shall be exercisable during an optionee’s lifetime only by the optionee. 
 10.    Adjustment upon Change in Stock.   Each option, the number and kind of shares subject to future options and the number of shares subject to options
that shall be automatically granted by the Board of Directors under the Director Plan shall be adjusted, as may be determined to be equitable in the sole and absolute discretion of the Board of Directors, in the event there is any change in the
outstanding Common Stock, or any event that could cause a change in the outstanding Common Stock, including, without limitation, by reason of a stock dividend, recapitalization, reclassification, issuance of Common Stock, extraordinary cash
dividend, issuance of rights to purchase Common Stock, issuance of securities convertible into or exchangeable for Common Stock, merger, consolidation, stock split, reverse stock split, spin-off, combination, exchange or conversion of shares, or any
other similar type of event. The Board of Director’s determination of any adjustment pursuant to this paragraph 10 shall be final, conclusive and binding. 
 11.    Change in Control 
 (a)  (1)  Notwithstanding any provision of the Director Plan, in the event of a Change in Control, all outstanding options shall immediately be exercisable in full and shall be subject to the provisions of paragraph
11(a)(2) or 11(a)(3), to the extent that either such paragraph is applicable. 
 (2)  Notwithstanding any provision of the Director Plan, in the event of a Change in Control in connection with which the holders of shares of the Company’s Common Stock receive shares of common stock that are registered
under Section 12 of the Securities Exchange Act of 1934 (the “Exchange Act”), all outstanding options shall immediately be exercisable in full and there shall be substituted for each share of the Company’s Common Stock available
under the Director Plan, whether or not then subject to an outstanding option, the number and class of shares into which each outstanding share of the Company’s Common Stock shall be converted pursuant to such Change in Control. In the event of
any such substitution, the purchase price per share of each option shall be appropriately adjusted by the Board of Directors, such adjustments to be made without an increase in the aggregate purchase price. 
  

 3 

 (3)   Notwithstanding any provision in the Director Plan, in
the event of a Change in Control in connection with which the holders of the Company’s Common Stock receive consideration other than shares of common stock that are registered under Section 12 of the Exchange Act, each outstanding option
shall be surrendered to the Company by the holder thereof, and each such option shall immediately be cancelled by the Company, and the holder shall receive, within ten (10) days of the occurrence of such Change in Control, a cash payment from
the Company in an amount equal to the number of shares of the Company’s Common Stock then subject to such option, multiplied by the excess, if any, of (i) the greater of (A) the highest per share price offered to stockholders of the
Company in any transaction whereby the Change in Control takes place or (B) the Fair Market Value of a share of the Company’s Common Stock on the date of occurrence of the Change in Control over (ii) the purchase price per share of
the Company’s Common Stock subject to the option. The Company may, but is not required to, cooperate with any person who is subject to Section 16 of the Exchange Act to assure that any cash payment in accordance with the foregoing to such
person is made in compliance with Section 16 of the Exchange Act and the rules and regulations thereunder providing for an exemption from Section 16(b) of the Exchange Act. 
 (b)   “Change in Control” means: 
 (1)  The occurrence of any one or more of the following events: 
 (A)    The acquisition by any individual, entity or group (a “Person”), including any
“person” within the meaning of Section 13(d)(3) or 14(d)(2) of the Exchange Act of beneficial ownership within the meaning of Rule 13d-3 promulgated under the Exchange Act of both (x) 20% or more of the combined voting power of
the then outstanding securities of the Company entitled to vote generally in the election of directors (the “Outstanding Company Voting Securities”) and (y) combined voting power of Outstanding Company Voting Securities in excess of
the combined voting power of the Outstanding Company Voting Securities held by the Exempt Persons (as such term is defined in paragraph 11(c)); provided, however, that a Change in Control shall not result from an acquisition of Company
Voting Securities: 
 (i)   directly from the Company, except as otherwise provided in paragraph
11(b)(2)(A); 
 (ii)   by the Company, except as otherwise provided in paragraph 11(b)(2)(B);

 (iii)   by an Exempt Person; 
 (iv)   by an employee benefit plan (or related trust) sponsored or maintained by the Company or any
corporation controlled by the Company; or 
  

 4 

 (v)    by any corporation pursuant to a reorganization, merger or
consolidation involving the Company, if, immediately after such reorganization, merger or consolidation, each of the conditions described in clauses (i) and (ii) of paragraph 11(b)(1)(C) shall be satisfied. 
 (B)    The cessation for any reason of the members of the Incumbent Board (as such term is defined in
paragraph 11(d)) to constitute at least a majority of the Board of Directors. 
 (C)    Consummation of a reorganization, merger or consolidation unless, in any such case, immediately after such reorganization, merger or consolidation: 
 (i)  more than 60% of the combined voting power of the then outstanding securities of the corporation
resulting from such reorganization, merger or consolidation entitled to vote generally in the election of directors is then beneficially owned, directly or indirectly, by all or substantially all of the individuals or entities who were the
beneficial owners of the combined voting power of all of the Outstanding Company Voting Securities immediately prior to such reorganization, merger or consolidation; and 
 (ii)  at least a majority of the members of the board of directors of the corporation resulting from such
reorganization, merger or consolidation were members of the Incumbent Board at the time of the execution of the initial agreement or action of the Board of Directors providing for such reorganization, merger or consolidation. 
 (D)    Consummation of the sale or other disposition of all or substantially all of the assets of the
Company other than (x) pursuant to a tax-free spin-off of a subsidiary or other business unit of the Company or (y) to a corporation with respect to which, immediately after such sale or other disposition: 
 (i)  more than 60% of the combined voting power of the then outstanding securities thereof entitled to vote
generally in the election of directors is then beneficially owned, directly or indirectly, by all or substantially all of the individuals and entities who were the beneficial owners of the combined voting power of all of the Outstanding Company
Voting Securities immediately prior to such sale or other disposition; and 
 (ii)  at least a
majority of the members of the board of directors thereof were members of the Incumbent Board at the 

  

 5 

 
time of the execution of the initial agreement or action of the Board of Directors providing for such sale or other disposition. 
 (E)    Approval by the stockholders of the Company of a plan of complete liquidation or dissolution
of the Company. 
 (2)  Notwithstanding the provisions of paragraph 11(b)(1): 
 (A)    no acquisition of Company Voting Securities shall be subject to the exception from the
definition of Change in Control contained in clause (i) of paragraph 11(b)(1)(A) if such acquisition results from the exercise of an exercise, conversion or exchange privilege unless the security being so exercised, converted or exchanged was
acquired directly from the Company; and 
 (B)    for purposes of clause (ii) of
paragraph 11(b)(1)(A), if any Person (other than the Company, an Exempt Person or any employee benefit plan (or related trust) sponsored or maintained by the Company or any corporation controlled by the Company) shall, by reason of an acquisition of
Company Voting Securities by the Company, become the beneficial owner of (x) 20% or more of the combined voting power of the Outstanding Company Voting Securities and (y) combined voting power of Outstanding Company Voting Securities in
excess of the combined voting power of the Outstanding Company Voting Securities held by the Exempt Persons, and such Person shall, after such acquisition of Company Voting Securities by the Company, become the beneficial owner of any additional
Outstanding Company Voting Securities and such beneficial ownership is publicly announced, such additional beneficial ownership shall constitute a Change in Control. 
 (c)   “Exempt Person” (and collectively, the “Exempt Persons”) means: 
 (1)   Leonard H. Lavin or Bernice E. Lavin; 
 (2)   any descendant of Leonard H. Lavin and Bernice E. Lavin or the spouse of any such descendant; 
 (3)   the estate of any of the persons described in paragraph 11(c)(1) or (2); 
 (4)   any trust or similar arrangement for the benefit of any person described in paragraph 11(c)(1) or (2); or 
 (5)   the Lavin Family Foundation or any other charitable organization established by any person described in paragraph 11(c)(1) or (2). 
  

 6 

 (d)   “Incumbent Board” means those individuals who, as of
October 24, 2002, constitute the Board of Directors, provided that: 
 (1)   any
individual who becomes a director of the Company subsequent to such date whose election, or nomination for election by the Company’s stockholders, was approved either by the vote of at least a majority of the directors then comprising the
Incumbent Board or by the vote of at least a majority of the combined voting power of the Outstanding Company Voting Securities held by the Exempt Persons shall be deemed to have been a member of the Incumbent Board; and 
 (2)   no individual who was initially elected as a director of the Company as a result of an actual or
threatened solicitation by a Person other than the Board or the Exempt Persons for the purpose of opposing a solicitation by any other Person with respect to the election or removal of directors, or any other actual or threatened solicitation of
proxies or consents by or on behalf of any Person other than the Board of Directors or the Exempt Persons shall be deemed to have been a member of the Incumbent Board. 
 12.    Amendment of Director Plan. The Board of Directors may amend or discontinue this Director Plan at any time; provided, however, that no such amendment or
discontinuance shall, without the approval of the stockholders except as provided in paragraph 10, (i) increase the total number of shares for which options may be granted to eligible directors pursuant to this Director Plan or (ii) change
the purchase price. In addition, no amendment or discontinuance of the Director Plan shall adversely affect or impair any option previously granted, without the consent of the optionee. 
  

 7Executive Deferred Compensation Plan

 EXHIBIT 10 (i) 
 Alberto-Culver Company 
 Executive Deferred Compensation Plan 
 (As amended and restated through January 1, 2005) 

	 I.
	 Preamble, 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. 
 Effective as of January 1, 2005, the Plan is being amended and restated in its entirety. 
  

	 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” -One or more individuals, trusts or other entities that are designated in the most recent writing by the Participant to receive a 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 severance plans, option plans, and any other benefit or welfare plan of the Company now or hereafter existing; provided, however, that effective January 1, 2004, Compensation shall also include incentive pay under the Company’s
management incentive plans, middle management bonus plans and sales incentive plans, but expressly excluding any incentive pay under the Company’s 1994 Shareholder Value Incentive Plan. The Plan Administrator shall have the discretion to
determine which types of incentive pay are included in Compensation under the foregoing definition, which includes the authority to add or delete incentive plans of the Company. 

  

	 (d)
	 “Compensation Committee” -the Compensation Committee of the Board of Directors of Alberto-Culver Company. 

  

	 (e)
	 “Company” -Alberto-Culver Company and any direct or indirect domestic subsidiary which, with the consent of Alberto-Culver Company, adopts this Plan by
resolution of its board of directors. On the date of this restatement, Sally Beauty Company, Inc., Beauty Systems Group, Inc., Sally Beauty International Finance Company, Inc., Sally Beauty Distribution, Inc., Armstrong McCall, LP, Arnold’s,
Inc., Pacific Salon Systems, Inc., Innovations Successful Salon Services, Inc., Artistic Salon Services, Inc., XRG Enterprises, Inc., Neka Salon Supply, Inc., Victory Beauty Systems, Inc., Alberto-Culver 

	 	 
(P.R.) Inc., Sally Beauty Distribution of Ohio, Inc., Alberto-Culver USA, Inc., St. Ives Laboratories, Inc., Pro-Line International, Inc., Alberto-Culver
Overseas, Inc., Alberto-Culver Research and Development, Inc., and Alberto-Culver International, Inc. have adopted this Plan with the consent of Alberto-Culver Company. 

  

	 (f)
	 “Deferral Agreement Form” -A written agreement between a Participant and the Company to defer receipt of future Salary Compensation and/or Bonus
Compensation. The Plan Administrator may amend this form from time to time. The Plan Administrator may adopt procedures providing for the Deferral Agreement Form to consist of elections made by a Participant using a website, telephone voice response
system, or other electronic means. 

  

	 (g)
	 “Disability” – A medically determinable physical or mental impairment that can be expected to result in death or can be expected to last for a
continuous period of not less than 12 months, and which entitles the Participant to receive disability benefits for a period of not less than 3 months under the Alberto-Culver Company Long Term Disability Plan or any other plan maintained by the
Company. 

  

	 (h)
	 “Eligible 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. 

  

	 (i)
	 “Excess Compensation” -Compensation that cannot be taken into account under the 401(k) Plans or the Profit-Sharing Plan because such Compensation
exceeds the limit on maximum includable compensation established under Section 401(a)(17) of the Code. 

  

	 (j)
	 “ERISA” -The Employee Retirement Income Security Act of 1974, as amended. 

  

	 (k)
	 “401(k) Plans” -The Alberto-Culver 401(k) Savings Plan, the Sally Beauty 401(k) Savings Plan, and, if so determined by the Compensation Committee, any
other plan sponsored by a participating Company that provides a cash or deferred election under Section 401(k) of the Code. 

  

	 (l)
	 “Highly Compensated Employee” -an employee of the Company whose Eligible Compensation is greater than the dollar amount set forth in Code
Section 414(q) (or any successor provision), as adjusted by the Internal Revenue Service from time to time. 

  

	 (m)
	 “Key Employee” – A Participant who is a “specified employee” as defined in Section 409A of the Code. The status of Participants as
Key Employee shall be determined as of the last day of each Plan Year, and shall apply for the 12-month period beginning on the following April 1. 

  

	 (n)
	 “Bonus Compensation” – The annual cash bonus paid under either the Alberto-Culver Company Management Incentive Plan (“MIP”) or
Management Bonus Plan (“MBP”). 

  

	 (o)
	 Intentionally Omitted 

  

 - 2 - 

	 (p)
	 “Salary Compensation” – Salary and commissions, where applicable, of any employee as set by the Company for a Plan Year.

  

	 (q)
	 “Participant” -A Highly Compensated Employee who meets the participation requirements set forth in Section 2.1 and either elects to participate in
the Plan in accordance herewith or is credited with additional contributions pursuant to Section 2.8. 

  

	 (r)
	 “Plan Administrator” -An individual selected from time to time by the Compensation Committee to administer the Plan and perform all accounting and
administrative functions in connection therewith. All or a portion of the accounting and administrative functions may be delegated by the Plan Administrator to a third party. 

  

	 (s)
	 “Plan Year” -Each 12 consecutive month period commencing on January 1 and ending on December 31. 

  

	 (t)
	 “Profit-Sharing Plan” -The Alberto-Culver Company Employees’ Profit Sharing Plan. 

  

	 (u)
	 “Termination of Employment” –Any “separation from service” within the meaning of Section 409A of the Code.

  

	 1.3
	 Purpose 

 Alberto-Culver Company and certain of its domestic subsidiaries sponsor 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, and also, effective January 1, 2004, to provide for certain other forms of deferred compensation for Participants. 
  

	 1.4
	 Bonus Deferrals 

 Beginning with bonuses paid for fiscal years 2007 and beyond under the MIP and MBP, participants in those plans will be entitled to defer a portion of their Bonus Compensation under the terms of this Plan, provided such participants qualify
as a Highly Compensated Employee. All such amounts deferred hereunder shall be governed by the terms of this Plan and not by the terms of the MIP or MBP. In no event shall any deferral of Bonus Compensation exceed the actual cash bonus paid under
the MIP or MBP, less all amounts withheld therefrom. 
  

	 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 Eligible Compensation 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 

  

 - 3 - 

 
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 Salary Compensation and/or Bonus 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 annual distribution installments which can be no more than ten, and (iv) any other elections required by the Plan Administrator and set forth on the Deferral Agreement Form. In the case of annual
installments, each installment shall be equal to the balance in the Participant’s account immediately prior to the installment divided by the number of remaining installments, and if any distribution to a Key Employee is required to be deferred
until six months after his termination of employment, such deferral shall apply only to the first installment and the remaining installments shall be paid in accordance with the original schedule. A Participant is not permitted to (i) defer
Salary Compensation or Bonus 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 or a Change in Control as set forth in Section 2.9, defer Salary Compensation or Bonus Compensation for a period of time less than three years from the commencement date of such
deferrals. For those Participants that have elected to defer all or a portion of their Salary Compensation for calendar year 2005, such Participants may cancel or amend such elections on or before December 31, 2005. 
  

	 2.2
	 Deferral Procedure 

 Deferral procedures with respect to Bonus Compensation shall be governed by the applicable bonus plan. 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 Salary 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. Subject to
applicable law, 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 Salary Compensation, provided that under no circumstances shall the amount of
Salary Compensation deferred exceed 100% of the Participant’s Salary Compensation less all amounts withheld therefrom. 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 calendar quarter following
the date on which the Deferral Agreement Form is submitted to the Plan Administrator. If a new employee fails to submit a Deferral 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. 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. 
  

 - 4 - 

 If in any Plan Year the Company determines that incentive pay, or any portion thereof, cannot be included
in Compensation under the Profit-Sharing Plan or any 401(k) Plan without adversely affecting the tax qualified status of such Plan, the Plan Administrator may adopt procedures consistent with Section 409A of the Code to permit each Participant
who is otherwise a Highly Compensated Employee to elect to defer a percentage of the net amount of such incentive pay. 
  

	 2.3
	 Intentionally Omitted 

  

	 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 not less than 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. A Participant’s account may be divided into subaccounts as necessary to reflect different payment or vesting terms, or for other purposes as the Plan
Administrator may determine. 
  

	 2.5
	 Account Valuation and Earnings 

 The account established for each Participant under Section 2.4 will be valued on not less than a quarterly basis. Such account 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 

 Except as otherwise provided in Sections 2.7 and 2.8, the account established for each Participant under Section 2.4 shall be payable to the Participant as provided in the Deferral Agreement Form (or, in the case of a Participant who
is allocated a contribution without having entered into a Deferral Agreement Form, in such manner as the Participant may elect upon commencing participation in accordance with procedures established by the Plan Administrator). The Plan Administrator
may allow, in its discretion, for amendments by Participants to his Deferral Agreement Form with respect to the timing of deferred payments thereunder, provided such amendments to the timing of deferred payments are in accordance with
Section 409A of the Code, and provided further that for purposes of Section 409A of the Code all installment payments shall be treated as a single payment. In the event of any of the following occurrences, the vested portion of 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’s employment with the Company has terminated and the Participant has not elected a future deferral payment date in his Deferral Agreement
Form, provided that if the Participant is a Key Employee and the termination of employment did not result from death or Disability, payment shall be deferred until six months after the date of termination; 

  

 - 5 - 

 or 
  

	 (b)
	 a Change in Control occurs as set forth in Section 2.9 (at which time the entire account shall vest). In addition, upon liquidation of the Company, the Plan
shall be terminated and the vested portion of the accounts established for each Participant under Section 2.4 shall be payable to each Participant or Beneficiary as soon as reasonably practicable following such liquidation.

  

	 2.7
	 Conditional Matching Contributions 

 If either of the following conditions are satisfied for any Plan Year beginning with 2004, Participants (other than Participants to whom Section 2.8(a) applies) may be entitled to a matching contribution from the
Company: 
  

	 (a)
	 A Participant, in the applicable Plan Year, is required to and does receive a refund of a portion of his elective deferrals under a 401(k) Plan in order for the
401(k) Plan to satisfy the actual deferral percentage test contained in Section 401(k)(3) of the Code, and the matching contribution attributable to the excess elective deferrals is forfeited; or 

  

	 (b)
	 The Participant is required to receive a refund of a portion of his matching contributions from a 401(k) Plan in order for the 401(k) Plan to satisfy the average
contribution percentage test contained in Section 401(m) of the Code, and a portion of the excess matching contribution is forfeited because it is not vested. 

 If either of the foregoing conditions have been satisfied, the Participant shall be credited a matching contribution into his or her account maintained hereunder equal to the portion of the
matching contribution that is forfeited under the applicable 401(k) Plan. Such matching contributions shall be credited to the Participant’s account not more than 30 days after the matching contributions were forfeited under the applicable
401(k) Plan. Matching contributions under this Section 2.7 must be deferred until the earlier of (i) the Participant’s termination of employment with the Company other than by reasons of death or Disability (or six months after the
date of termination in the case of a Key Employee), (ii) the Participant’s death or Disability, or (iii)] a Change in Control as set forth in Section 2.9. 
 For purposes of this Section 2.7, if the applicable 401(k) Plan in any Plan Year restricts the amount of elective deferrals or matching contributions for highly compensated employees in order to avoid a violation
of the actual deferral or average compensation percentage test, the amount of matching contributions that would otherwise have been contributed and then forfeited shall be treated as having been forfeited and eligible for restoration under this
Section 2.7. 
  

	 2.8
	 Additional Company Contributions. 

 In addition to the contributions described in Section 2.7, for each Plan Year commencing with 2004 the Company shall credit the following amounts to Participants’ accounts: 
  

	 (a)
	 With respect to Participants who receive Excess Compensation in any Plan Year, an amount equal to the excess, if any, of (i) the amount of matching
contributions that would have been contributed to the Participant’s account in the applicable 401(k) Plan for such Plan Year if the Participant’s Excess Compensation had been taken into account under 

  

 - 6 - 

	 	 
the 401(k) Plan and the Participant had elected to defer the maximum percentage of his Compensation (including the Excess Compensation) permitted under the
401(k) Plan (disregarding any limits imposed on maximum contributions under the Code, and regardless of whether the Participant actually elects to defer any portion of his Compensation under this Plan), over (ii) the amount of matching
contributions actually contributed to such Participant’s 401(k) Plan account for the Plan Year. Such amounts shall be credited as of the date on which the matching contributions are made under the applicable 401(k) Plan.

  

	 (b)
	 With respect to Participants in the Profit-Sharing Plan who receive Excess Compensation in the plan year of the Profit-Sharing Plan that ends during the Plan
Year (the “Profit-Sharing Year”), an amount equal to the excess, if any, of (i) the amount of employer contributions that would have been contributed to the Participant’s account in the Profit-Sharing Plan for such Profit-Sharing
Year if the Participant’s Excess Compensation had been taken into account under the Profit-Sharing Plan, over (ii) the amount of employer contributions actually contributed to such Participant’s Profit-Sharing Plan account for such
Profit-Sharing Year. Such amounts shall be credited as of the date on which the employer contributions are made under the Profit-Sharing Plan. 

  

	 (c)
	 With respect to each Participant who is a participant in the Company’s 1994 Shareholder Value Incentive Plan as of October 1, 2003, a supplemental
amount in an amount to be determined by the Compensation Committee in its sole discretion. Unless otherwise determined by the Compensation Committee, each such Participant shall be entitled to a supplemental contribution for the number of Plan
Years, beginning with 2004, equal to the integer determined by dividing the Participant’s full years of employment with the Company as of December 31, 2003, by three (disregarding any fractional period). The supplemental contribution for
each Plan Year shall be equal to the total additional Company contributions allocated to the Participant under Sections 2.8(a) and 2.8(b) above for such Plan Year. Such amount (the “Section 2.8(c) Credit”) shall be credited no later than
five business days following the date on which the matching contributions are made under the applicable 401(k) Plan only to Participants entitled to a supplemental contribution for the Plan Year and still employed on the last day of the applicable
Plan Year, and no Participant shall be entitled to more than five such payments. The Plan Administrator may divide the Section 2.8(c) Credit into two credits, provided the full amount of the Section 2.8(c) Credit is made on or before five
business days following the date on which matching contributions are made under the applicable 401(k) Plan. 

  

	 (d)
	 Payment of Company contributions (or the first installment thereof depending on the Participant’s election) credited to a Participant’s account in
accordance with Section 2.8(a), (b) and (c) must be deferred until the earliest of (i) the Participant’s termination of employment other than by reason of death or Disability (or six months following the termination of
employment in the case of a Key Employee), (ii) the Participant’s death or Disability, or (iii) a Change in Control as set forth in Section 2.9. 

  

	 (e)
	 Subject to any limitations imposed by Section 409A of the Code, if in any Plan Year the Company determines that any incentive pay compensation that is
deferred under this Plan, or any other similar type of compensation designated by the Plan Administrator, or any portion thereof (“Disqualified Compensation”) cannot be included in Compensation 

  

 - 7 - 

	 	 
under the Profit-Sharing Plan or any 401(k) Plan without adversely affecting the tax qualified status of such Plan, each affected Participant shall receive
contributions to his account calculated under Section 2.8(a) or (b) as if such Disqualified Compensation were Excess Compensation; provided that if Disqualified Compensation, if included in Compensation, would have been Excess
Compensation, such Participant shall not receive contributions under this Section 2.8(e) which duplicate those received under Section 2.8(a) or (b). 

  

	 (f)
	 The Compensation Committee may, on an individual basis, provide for additional amounts to be credited to the account of certain Participants, which amounts may,
without limitation, compensate a Participant for deferred compensation or retirement income that cannot be provided under a tax qualified plan. Such amounts may be subject to such conditions and limitations, including vesting, as the Compensation
Committee may provide. Any such amounts shall be described in a written agreement between such Participant and the Company (which may be a portion of an employment agreement referencing this Plan), and no person shall have any rights to any such
additional contributions in the absence of such a written agreement. 

  

	 2.9
	 Change in Control 

 Notwithstanding any other provisions of the Plan, the entire balance of each Participant’s account shall be distributed to such Participant as soon as reasonably practicable after the date of the occurrence of a Change in Control with
respect to such Participant. Such distribution shall be in the form of a single lump sum cash payment. For purposes of this Section 2.9, the definition of a Change in Control shall be as defined by Section 409A of the Code. 
  

	 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 any Participant or Beneficiary of the Plan, nor will any interest other than that of an unsecured creditor exist. 
 Alberto-Culver Company may, but shall not be obligated to, establish one or more trusts and contribute, or cause Companies to contribute, amounts to such trusts to be used for the payment of
benefits under this Plan. Any such trust shall be of the type commonly referred to as a “rabbi trust”, and each Company shall be treated as the owner of the portion of assets of such trust contributed by such Company for tax purposes in
accordance with Section 671-Section 678 of the Code. The assets of any such trust shall remain subject to the claims of creditors of the Company contributing such assets, and no Participant or any other person shall have any beneficial
interest in or other claim to the assets of any such trust beyond that of a general creditor as provided above. Any payments made to or on behalf of a Participant from any such 

  

 - 8 - 

 
trust shall fully discharge the liability of the Company to such Participant under the Plan to the extent of the amount so paid. If Alberto-Culver Company
elects to establish one or more such trusts, the Plan Administrator shall have the right to select, remove, and replace the trustee thereof at any time in its sole discretion, and shall enter into one or more agreements governing such trust
containing such terms as it determines, and may modify, amend or revoke any such agreements, all in his sole discretion. Anything else to the contrary notwithstanding, in no event shall any amount be deposited on or after August 17, 2006, into
any trust, or otherwise set aside in an arrangement designated by the Internal Revenue Service, for the payment of benefits to any Participant who either is, or at the time of his termination of employment was, either subject to Section 16 of
the Securities Exchange Act of 1934, or an executive officer whose compensation is required to be included in the Company’s annual proxy statement, during any “restricted period” as defined in Section 409A(b)(3) of the Code, as
amended by Section 116 of the Pension Protection Act of 2006. 
  

	 3.2
	 Vesting 

 A
Participant is always 100% vested in such Participant’s own contributions and the earnings thereon. Except as otherwise provided in a separate agreement pursuant to Section 2.8(f), Participants will vest in all Company contributions upon
the earliest to occur: (i) Participant’s completion of five Years of Service (as defined in the Profit Sharing Plan), (ii) Participant’s Retirement (as defined in the 2003 ACSOP), (iii) Change in Control occurs as set forth
in Section 2.9, and (iv) Participant’s death or Disability. 
  

	 3.3
	 In-Service Withdrawals 

 Except as described in this Section 3.3 (or procedures established by the Plan Administrator pursuant to Section 2.6), the date upon which deferral distributions commence and the number of equal annual installments payable
starting on such commencement date shall be irrevocable. Participants may request to receive an early distribution of all or a portion of the vested balance of the account owed to the Participant, except that a Participant may only receive an early
distribution of an amount deferred after December 31, 2004, or the income thereon, to the extent necessary to satisfy an “Unforeseeable Emergency” as provided below A single-sum payment shall 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 of all or a portion of the vested balance of the account owed to the Participant on account of an “Unforeseeable Emergency” shall not bear the 10% early distribution penalty and
may be requested for any amounts deferred hereunder. 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 

  

 - 9 - 

 
the sole discretion of the Plan Administrator who shall apply the standards prescribed under Section 409A 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 an official copy of the death certificate and (ii) a proper Beneficiary has been determined by the Plan Administrator in accordance with Section 3.4. 
  

	 3.6
	 Administration 

 Alberto-Culver Company shall be the “administrator” of the Plan for purposes of Section 3(16)(A) of ERISA. The Plan shall be administered on behalf of Alberto-Culver Company by the Plan Administrator, subject to the oversight
of the Compensation Committee; provided, however, that if at any time no individual has been appointed as Plan Administrator, the Plan shall be administered under the oversight of the Compensation Committee by the Vice President, Worldwide Human
Resources of Alberto-Culver Company or persons acting under his authority and supervision, who shall have all authority of the Plan Administrator hereunder. 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. Any rule, regulation or procedure adopted by the Plan Administrator that is inconsistent with any provision of the Plan that is
administrative or ministerial in nature shall be deemed an amendment to the Plan to the extent of the inconsistency. 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. 
  

 - 10 - 

	 3.8
	 Claims Procedure 

 Any Participant or Beneficiary, or any other person asserting the right to receive a benefit under this Plan by virtue of his relationship to a Participant or Beneficiary (the “Applicant”), who believes that he has the right to a
benefit that has not been paid, must file a written claim for such benefit in accordance with the procedures established by the Plan Administrator. All such claims shall be filed not more than one year after the Applicant knows, or with the exercise
of reasonable diligence should have known, of the basis for such claim. The preceding sentence shall not be construed to require a Participant or Beneficiary to file a formal claim for the payment of undisputed benefits in the normal course, but any
claim that relates to the amount of any benefit shall in any event be filed not more than one year after payment of such benefit commences. The Plan Administrator may retain third party Plan Administrators and recordkeepers for the purpose of
processing routine matters relating to the payment of benefits, but correspondence between a Participant, Beneficiary or other person and such third parties shall not be considered claims for purposes of this Section, and a person shall not be
considered a Applicant until he has filed a written claim for benefits with the Plan Administrator. 
 All claims for benefits shall be
processed by the Plan Administrator, and the Plan Administrator shall furnish the Applicant within 90 days after receipt of such claim a written notice that 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, and the
Applicant’s right to bring an action under Section 502 of ERISA, subject to the restrictions of paragraph 502(e) if the request for review is unsuccessful. The 90 day period may be extended by up to an additional 90 days if the Plan
Administrator so notifies the Applicant prior to the end of the initial 90 day period, which notice shall include an explanation of the reason for the extension and an estimate of when the processing of the claim will be complete. If the Plan
Administrator determines that additional information is necessary to process the claim, the Applicant shall be given a period not less than 45 days to furnish the information, and the time for responding to the claim shall be tolled during the
period of time beginning on the date on which the Applicant is notified of the need for the additional information and the day on which the information is furnished (or if earlier the end of the period for furnishing the information). 
 If the claim is denied in whole or in part, or if the decision on the claim is otherwise adverse, the Applicant may, within 60 days after receipt of such
notice, request a review of the decision in writing. If the Applicant requests a review, the Compensation Committee (or such other fiduciary as the Compensation Committee may appoint for such purpose) shall review such decision. The Compensation
Committee’s decision on review shall be in writing and furnished not more than five days after the meeting at which the review is completed, and shall include specific reasons for the decision, written in a manner calculated to be understood by
the Applicant, shall include specific references to the pertinent provisions of the Plan on which the decision is based, and shall advise the Applicant of his right to bring an action under Section 502 of ERISA, subject to the limitations set
forth below. 
 The Compensation Committee’s decision on review shall be delivered to the Applicant not more than 60 days after the
request for review is received, which may be extended to not more than 120 days if special circumstances require and Applicant is notified of the extension by the end of 

  

 - 11 - 

 
the initial 60 day period, which notice shall explain the reason for the delay and include an estimate of the time at which the review will be complete

 As additional consideration for receipt of benefits hereunder, each Participant agrees and covenants, on behalf of himself, his
Beneficiaries, and all persons claiming through him, not to initiate any action before any court, under Section 502 of ERISA or otherwise, or before any administrative agency or quasi-judicial tribunal, for any benefit under the Plan, without
having first filed a claim for such benefit and requested review of any adverse decision on such claim in accordance with this Section and the procedures established by the Plan Administrator pursuant to this Section, and in any event not more than
180 days after receipt of the decision on review of the adverse claim decision. 
  

	 3.9
	 Tax Liability 

 The
Company will withhold all required taxes from any payment of benefits. Any tax which is payable upon an amount deferred under the Plan at the time of deferral or subsequent vesting shall be withheld from other current compensation payable to the
Participant, and if no current compensation is otherwise payable the Company shall require such Participant to pay the amount of such tax to the Company. In the event a Participant is subject to tax under Section 409A of the Code, payment of
his vested balance may be accelerated to the extent necessary to pay such tax. 
  

	 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 or, except as permitted by
Section 409A of the Code, change the timing of any distribution under the Plan. 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. Subject to any limitations imposed by Section 409A of the Code, the Company shall have the right to pay each Participant his/her entire vested interest in the Plan in a single-sum upon
termination of the Plan. 
  

 - 12 - 

	 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. 
  

 - 13 - 

	 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. 
  

 - 14 -

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00114-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00114-of-00352.parquet"}]]