Document:

Retirement Agreement, dated February 21, 2007

 EXHIBIT 10-V 
  
 RETIREMENT AGREEMENT 
  
 RETIREMENT AGREEMENT, dated February 21, 2007 (the “Retirement Agreement”), between COLGATE-PALMOLIVE COMPANY, a Delaware
corporation, having an office at 300 Park Avenue, New York, New York 10022 (the “Company”), and JAVIER G. TERUEL, Vice Chairman of the Company, having his residence at Bosque de Toronjos #9, dept 702, Bosques de Las Lomas, Mexico,
DF 05120 (“Mr. Teruel”). 
  
 WHEREAS, Mr. Teruel has
informed the Company on the date hereof that he has decided to retire from employment with the Company effective April 1, 2007 (the “Retirement Date”) after 35 years of service; and 
  
 WHEREAS, in connection with his retirement, Mr. Teruel and the Company have
agreed to the following terms with respect to his retirement; 
  
 NOW, THEREFORE, in consideration of the mutual covenants and agreements herein contained, the parties hereto agree as follows: 
  
 1. Retirement Date. Mr. Teruel hereby notifies the Company that he will retire from employment with the Company effective as of the Retirement
Date. 
  
 2. Retirement Benefits; Additional Payment. Upon
his retirement, Mr. Teruel will receive the normal retirement benefits and payments applicable to him under existing Company plans and programs. In addition, in consideration of the covenants set forth herein and in the documents referred to in
Section 6(K), Mr. Teruel will receive an additional payment in the amount of $2,640,000 payable within 60 days after the Retirement Date. This additional payment shall not be considered part of Mr. Teruel’s salary or earnings for purposes of
computing any other Company benefit, payment or award. 
  
 3.
Consulting. So that the Company may continue to receive the benefit of Mr. Teruel’s extensive experience and expertise regarding the business of the Company, during a three-year period beginning on the Retirement Date, Mr. Teruel agrees
that upon the Company’s reasonable notice to him, for no additional consideration he shall make himself available to consult with and advise the Company regarding strategic issues and such other matters as the parties may agree. Such
consultation shall not interfere with Mr. Teruel’s personal or other business commitments. In connection with such consultation, Mr. Teruel will be reimbursed for reasonable expenses incurred in connection therewith. 
  
 4. Covenant Not to Compete. During a three-year period beginning on
the Retirement Date (the “Restricted Period”), Mr. Teruel shall not, directly or indirectly, in any capacity, without the prior written consent of the Company, provide any services to, or become directly or indirectly involved as an owner,
officer, director, employee, shareholder, independent contractor, agent, partner or advisor for any business or entity (collectively a “Competing Business”) involved in the development, manufacture, production, marketing and/or sale of (a)
oral care or pet nutrition products, or (b) personal care, household care, or fabric care products that directly and materially compete with products which generate sales or profits material to the Company or any of its subsidiaries or affiliates ;
provided, however the foregoing shall not restrict Mr. Teruel from acquiring an investment of 5% or less of the outstanding shares of a public company that engages in a Competing Business or from providing services to or being involved in a company
with a Competing Business generating less than 5% of the revenues of that company. Notwithstanding anything herein to the contrary, nothing herein shall prevent Mr. Teruel from engaging in any activity with, or holding any financial interest in, a
division, subsidiary or affiliate which is not engaged in a Competing Business even if the entity of which it is a part is engaged in a Competing Business. Nothing in the foregoing shall limit in any way Mr. Teruel’s obligations under Section 5
of this Agreement and the non-disclosure agreement referred to therein. During the Restricted Period, Mr. Teruel shall not, directly or indirectly, recruit, hire, solicit or induce any employee, agent, consultant, contractor, supplier or any other
person or entity to cease or reduce working for and/or doing business with Colgate and/or any of its subsidiaries or affiliates. Mr. Teruel acknowledges that the Company would suffer irreparable harm 

 
(not adequately remedied by monetary damages alone) if Mr. Teruel were to breach the provisions of this Section and that, accordingly, the Company shall be
entitled to seek equitable relief, in addition to its remedies at law, to enjoin any such breach or threatened breach without the necessity of posting a bond or other security. 
  
 5. Confidential Information. Mr. Teruel acknowledges that, in the course of his employment with the Company and
during the course of the consultation referred to above, he has and may hereafter obtain knowledge about confidential and proprietary information or trade secrets of the Company or its affiliates (the “Confidential Information”). Mr.
Teruel hereby acknowledges that all Confidential Information constitutes a valuable trade secret and is the sole and exclusive property of the Company. Mr. Teruel agrees not to use, publish or otherwise disclose any Confidential Information to
others, including but not limited to any Competing Business, and to sign a non-disclosure agreement in the standard form used by the Company effective as of the Retirement Date. 
  
 6. General Provisions. 
  
 A. Non-Assignability. Neither this Retirement Agreement nor any right, obligation or interest hereunder or in connection herewith shall be
assignable by Mr. Teruel, his beneficiaries, or legal representatives, without the Company’s prior written consent; provided, however, that nothing in this Paragraph shall preclude the executors, administrators, or other legal representatives
of Mr. Teruel or his estate from receiving any payment or benefit hereunder or from assigning any rights hereunder to the person or persons entitled thereunto. Notwithstanding the foregoing sentence, the Company agrees that it will consent to the
assignment by Mr. Teruel of his right to receive the payment referred to in Section 2 to a company affiliated with and controlled by Mr. Teruel, subject to confirmatory due diligence by the Company that such assignment does not have an adverse
impact on the Company, provided, however, in the event of any such assignment, Mr. Teruel will remain fully bound by the terms and conditions of this Agreement. 
  

B. Offset. Mr. Teruel understands and agrees that should he be entitled to receive or has received any other payment or benefit from other
Colgate/Hills, government sponsored or statutorily required severance plans or staff leave indemnity plans, they shall apply as offsets against any amounts received herein. 
  
 C. Benefit/Binding Effect. This Retirement Agreement shall be binding upon, and inure to the benefit of, Mr. Teruel,
the Company and their respective heirs, administrators, successors and assigns. 
  
 D. Modification. This Retirement Agreement may not be modified or amended except by an instrument in writing signed by the parties hereto. 
  
 E. Non-Waiver. No term or condition of this Retirement Agreement shall be deemed to have been waived, nor shall there
be any estoppel against the enforcement of any provision of this Retirement Agreement , except by written instrument of the party charged with such waiver or estoppel. No such written waiver shall be deemed a continuing waiver unless specifically
stated therein, and each such waiver shall operate only as to the specific term or condition waived and shall not constitute a waiver of such term or condition for the future or as to any act other than that specifically waived. 
  
 F. Governing Law. This Retirement Agreement has been executed and
delivered in the State of New York, and their validity, interpretation, performance, and enforcement shall be governed by the laws of said State without reference to the conflicts of laws principles thereof. Mr. Teruel hereby irrevocably consents to
the exclusive jurisdiction and venue of the Courts of the State of New York and the United States District Court for the Southern District of New York, in connection with any action or proceeding arising out of or relating to this Retirement
Agreement or the subject matter hereof. Mr. Teruel hereby irrevocably appoints CT Corporation System, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801, as his authorized agent upon whom process may be served in any such action or
proceeding instituted in any such court and waives any objections to personal jurisdiction with respect thereto. The Company will reimburse Mr. Teruel for any fees or costs charged by CT Corporation System for acting as his authorized agent for
service of process pursuant to the foregoing sentence. 

 G. Captions. The headings and captions of paragraphs herein are included solely for convenience of
reference and shall not control the meaning or interpretation of any of the provisions of this Retirement Agreement. 
  
 H. Notices. All notices and other communications hereunder shall be in writing and shall be given by personal delivery, telecopier, recognized
overnight courier service or Certified Mail, Return Receipt Requested, to the parties at their addresses set forth above, or to such other address as either party hereto may pursuant to the provisions of this Paragraph provide to the other party
hereto. 
  
 I. Entire Retirement Agreement. This Retirement
Agreement, together with the documents referred to in Paragraph (K) of this Section 6, constitute one integrated document and contain the entire agreement, between the parties with respect to the subject matter hereof and supersede all prior
agreements, written or oral, with respect thereto. 
  
 J.
Severability. Any provision of this Retirement Agreement which is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective only to the extent of such prohibition or unenforceability without invalidating
or affecting the remaining provisions, and any such prohibition or unenforceability in any such jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. 
  
 K. Execution. On the Retirement Date, Mr. Teruel will execute a
non-disclosure agreement and general release in favor of the Company in form and substance satisfactory to it. 
  
 L. Counterparts. This Retirement Agreement may be executed in two or more counterparts, each of which shall be deemed an original but all of which
together shall constitute one and the same instrument. 
  
 IN
WITNESS WHEREOF, the parties have made and delivered this Retirement Agreement as of the day and year first above written. 
  

			
	 COLGATE-PALMOLIVE COMPANY

		
	By	 	 /s/    DANIEL MARSILI        

	Name:	 	Daniel Marsili
	Title:	 	Vice President, Global Human Resources
	
	 Date: February 21, 2007

		
	 	 	 /s/    JAVIER G.
TERUEL        

	 	 	Javier G. Teruel
	
	 Date: February 21, 2007Form of Serena's FY08 Executive Annual Incentive Plan

 Exhibit 10.1 
 

 
 FY 2008 Executive Annual Incentive Plan 
  

			
	Job Category:	  	                                      
           (“Participant”)
		
	 Purpose:
	  	Provide critical focus on specific, measurable corporate goals and provide performance-based compensation based upon the level of attainment of such goals.
		
	 Bonus Target:
	  	The target incentive bonus for this executive position is [50%/100%] of the Participant’s annual base salary. The incentive bonus will be paid on a [semi-annual/annual] basis based on the
Participant’s actual base salary from time of eligibility under the Plan through the applicable fiscal period. Payments will be subject to applicable payroll taxes and withholdings.
		
	 Bonus Payments:
	  	The incentive bonus will be paid on a [semi-annual/annual] basis. Payment will be made within two and one-half months of the financial close of the applicable fiscal period.
		
	 Components:
	  	The following performance metric(s) will be used to determine the amount of the incentive bonus:

  

			
	Metric	  	Weighting
	 	  	 
	 	  	 
	 	  	 

  

			
	 Achievement Schedule:
	  	The achievement schedule for each metric and associated bonus associated with the achievement of such metric is set forth in Schedule 1 attached hereto.
		
	 Pro-ration:
	  	The calculation of the incentive bonus will be based on eligible actual base salary earnings for the applicable fiscal period and, subject to the eligibility requirements below, will be
pro-rated based on the number of days the Participant is employed as a regular, full-time employee of Serena during such fiscal period.
		
	 Eligibility:
	  	The Participant must be a regular, full-time employee of Serena at the end of the applicable fiscal period and remain actively employed through the date of the bonus payout in order to be
eligible to receive the incentive bonus. Similarly, the Participant must be a regular, full-time employee of Serena at the end of the fiscal year and remain actively employed through the date of the bonus payout in order to be eligible to receive
any bonus payment measured on an annual basis and/or payments for annual over-achievement or other annual adjustment. A Participant who leaves before the end of the applicable fiscal period or prior to the payment of the incentive bonus for such
period will not be eligible to receive the incentive bonus or any pro-ration thereof.
		
	 Acquisition:
	  	In the event of an acquisition or purchase of products or technology, the Administrator may adjust the applicable financial performance metrics to reflect the potential impact upon the
Serena’s financial performance.

  

 1 

			
	 Plan Provisions:
	  	This Plan supersedes the FY07 Executive Annual Incentive Plan, which is null and void as of the adoption of this Plan.
		
		  	Participation in the Plan does not guarantee participation in other or future incentive plans. Plan structure and participation will be determined on an annual basis.
		
		  	The Plan will be administered by the Compensation Committee of the Board of Directors (the “Administrator”). The Administrator will have all powers and discretion necessary or
appropriate to administer and interpret the Plan, except to the extent that the Board reserves the right to approve matters related to the compensation of the Chief Executive Officer. The Administrator reserves the right to alter or cancel all or
any portion of the Plan for any reason at any time, and to exercise its own judgment with regard to company performance in light of events outside the control of management and/or the Participant.
		
		  	The Serena FY2008 Compensation Plan General Terms and Conditions are incorporated herein, except to the extent inconsistent with the terms hereof.

	*	See Schedule 1 attached hereto 

  

 SCHEDULE 1 
 SERENA SOFTWARE, INC.

 FY08 EXECUTIVE ANNUAL INCENTIVE PLAN 
 Effective February 1, 2007 
 Target annual cash incentive bonuses are equal to 100% of a participant’s
annual base salary for our Senior Vice President, Chief Financial Officer and Senior Vice President, Worldwide Field Operations, and 50% of a participant’s annual base salary for our Senior Vice President, General Counsel, Senior Vice
President, Research and Development, and Senior Vice President, Worldwide Marketing. The actual bonus amounts are subject to achievement of one or more of the following performance metrics: (a) with regard to all of our executive officers,
achievement of our annual EBITA (earnings before interest, taxes and amortization) target; (b) with regard to our Senior Vice President, General Counsel, Senior Vice President, Research and Development, and Senior Vice President, Worldwide
Marketing, achievement of management objectives applicable to the executive officer; and (c) with regard to our Senior Vice President, Research and Development and Senior Vice President, Worldwide Marketing, achievement of expense targets
applicable to the executive officer’s functional area. For annual incentive plans with multiple performance metrics, the performance metrics are generally weighted on an equal basis. With regard to the annual EBITA performance metric,
achievement of less than 85% of the EBITA target results in no payout, achievement of 100% of the EBITA target results in a 100% payout, and achievement of 115% of the EBITA target results in a 200% payout of the target bonus or weighted portion
thereof. Payouts based on the EBITA metric are not capped. The incentive bonuses will be calculated and paid out on an annual basis for our Senior Vice President, Chief Financial Officer, and on a semi-annual basis for our Senior Vice President,
Worldwide Field Operations, Senior Vice President, General Counsel, Senior Vice President, Research and Development, and Senior Vice President, Worldwide Marketing. The annual incentive bonus for our Senior Vice President, Worldwide Field Operations
is guaranteed at 100% of his target bonus for fiscal year 2008. 
  

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