Document:

EX-4.1

AMENDMENT NO. 1 TO RIGHTS AGREEMENT

This Amendment No. 1 (this “Amendment”), dated as of January 24, 2007, is by and between
Lightbridge, Inc., a Delaware corporation (the “Company”), and American Stock Transfer and Trust
Company (the “Rights Agent”).

WHEREAS, the Company and the Rights Agent are parties to a Rights Agreement dated as of
November 14, 1997 (the “Agreement”); and

WHEREAS, pursuant to Section 26 of the Agreement, this Amendment is being executed by the
Company and the Rights Agent for the purpose of amending the Agreement as set forth below;

NOW THEREFORE, in consideration of the mutual covenants and conditions contained herein, and
for other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties hereto agree as follows:

1. That the definition of “Acquiring Person” set forth in Section 1 of the Rights Agreement
be amended by deleting such definition in its entirety and replacing it with the following
definition:

“Acquiring Person” shall mean any Person who or which, alone or together
with all Affiliates and Associates of such Person, shall be the Beneficial Owner of
Common Shares then outstanding that equal or exceed such Person’s Ownership Threshold,
but shall not include (A) the Company, any Subsidiary of the Company, any employee
benefit plan of the Company or of any of its Subsidiaries, or any Person holding Common
Shares for or pursuant to the terms of any such employee benefit plan, (B) any such
Person who or which has become such a Beneficial Owner solely because (i) of a change in
the aggregate number of Common Shares outstanding since the last date on which such
Person acquired Beneficial Ownership of any Common Shares or (ii) it acquired such
Beneficial Ownership in the good faith belief that such acquisition would not cause such
Beneficial Ownership to exceed such Person’s Ownership Threshold and such Person relied
in good faith in computing the percentage of its Beneficial Ownership on publicly filed
reports or documents of the Company which are inaccurate or out-of-date, or (C) any such
Person for so long as such Person qualifies under Rule 13d-1(b)(1) of the General Rules
and Regulations under the Exchange Act (or any successor rule or regulation thereto) to
report its Beneficial Ownership of Common Shares on Schedule 13G (or any successor
schedule thereto) and otherwise satisfies the criteria of Rule 13d-1(b)(1) of the
General Rules and Regulations under the Exchange Act (or any successor rule or
regulation thereto). Notwithstanding clause (B) of the immediately preceding sentence of
this definition, if any Person that is not an Acquiring Person due to such clause (B)
does not reduce its percentage of Beneficial Ownership of Common Shares to an amount
less than such Person’s Ownership Threshold by the Close of Business on the fifth
Business Day after notice from the Company (the date of notice being the first day) that
such Person’s Beneficial Ownership of Common Shares so exceeds such Person’s Ownership
Threshold, such Person shall, at the end of such five Business Day period, become an
Acquiring Person (and such clause (B) shall no longer apply to such Person). For
purposes of this definition, whether any Person acted in “good faith” shall be
conclusively determined by the Board of Directors of the Company. Notwithstanding
clause (C) of the third preceding sentence of this definition, if any Person that is not
an Acquiring Person due to such clause (C) both (i) ceases to qualify under Rule
13d-1(b)(1) of the General Rules and Regulations under the Exchange Act (or any
successor rule or regulation thereto) to report its Beneficial Ownership of Common
Shares on Schedule 13G (or any successor schedules thereto) or otherwise ceases to
satisfy the criteria of Rule 13d-1(b)(1) of the General Rules and Regulations under the
Exchange Act (or any successor rule or regulation thereto) (including, without
limitation, by reason of Rule 13d-1(e) or (g) or any successor rules or regulations
thereto) and (ii) does not reduce its percentage of Beneficial Ownership of Common
Shares to an amount less than such Person’s Ownership Threshold by the Close of Business
on the date that such Person is obligated to file a statement on Schedule 13D or an
amendment to its Schedule 13G, as applicable (or, in either case, any successor schedule
thereto), such Person shall, at the Close of Business on such date, become an Acquiring
Person (and such clause (C) shall no longer apply to such Person).

2. Except as specifically amended by this Amendment, the Agreement shall remain in full
force and effect.

1

IN WITNESS WHEREOF, the parties hereto have caused this Amendment No. 1 to be duly executed as
of the date first above written.

LIGHTBRIDGE, INC.

By:/s/ 

Name:

Title:

AMERICAN STOCK TRANSFER AND TRUST COMPANY

By:/s/ 

Name:

Title:

2Exhibit 10-1 STAR & BGP

    
      
        

          Short
            Term Achievement Reward Program

          

          The
            Short
            Term Achievement Reward (“STAR”) Program is the Company’s annual incentive bonus
            program designed to support outstanding business results of The Procter
&
Gamble Company (the “Company” or “P&G”). Awards are made within the
            authority of the Additional Remuneration Plan and the 2001 Stock and
            Incentive
            Compensation Plan. 

          

          I.    ELIGIBILITY

          

          Eligibility
            is based on job level and the requirement of working at least four weeks
            during
            the fiscal year. STAR participants who do not work a full time schedule
            for the
            entire fiscal year may have awards pro-rated. Separating employees must
            be
            active as of June 30 (the close of the fiscal year for which the award
            is
            payable) to receive an award, unless due to retirement or special circumstances
            agreed in advance.

          

          II.    CALCULATION 

          

          The
            individual STAR Award Calculation is: (STAR Target) x (Business Unit
            Performance
            Factor) x (Corporate Adjustment Factor) x (Gillette Factor)

          

          	·  	
                  The
                    STAR
                    Target for
                    each participant is calculated as: (Base Salary) x (STAR Target
                    percent)

                

          

          Base
            Salary
            as of
            the end of June is used to calculate the STAR award. If a participant’s level
            changes, the highest band level and salary during the fiscal year is
            used to
            determine the STAR Target. 

          

          The
            STAR
            Target Percent
            is
            dependent on job level in the organization and will fall between 6% and
            155%.

           

                   
            Job Band      STAR
            Target as % of Base

           

                          3          
             6%
            in
            2005/06; 8% in 2006/07 and beyond

                  4         
15%

                  5         
25%

                  6         
45%

                  7         
70%

                  8         
75%

                           
            9               
85%

                         
            10            155%

          

          	·  	
                  The
                    Business
                    Unit Performance Factor
                    is
                    assigned to each STAR business unit as a measure of success for
                    the fiscal
                    year. The factors range from 53% to 167% with the target at 100%.
                    A STAR
                    Committee, comprised of a small number of senior executives (who
                    do not
                    determine their own awards), conducts a retrospective assessment
                    of the
                    performance of each business unit according to one or more of
                    the
                    following measures and makes a recommendation to the Compensation
&
                    Leadership Development Committee: Operating
                    Total Shareholder Return, Key Competitor Comparison, After Tax
                    Profit,
                    Operating Cash Flow, Value Share, Volume, Net Outside Sales,
                    Value
                    Contribution, Organization Head Self Assessment, and Cross Organization
                    Assessment. There may also be other
                    factors significantly affecting unit results.

                

           

          	·  	
                  The
                    Corporate
                    Adjustment Factor
                    measures the total Company success and ranges from 80% to 130%,
                    with a
                    100% target. The same Corporate Adjustment Factor is applied
                    to all STAR
                    award calculations. It is determined by a matrix that measures
                    P&G’s
                    market total shareholder return (“TSR”) ranking relative to a competitive
                    peer group and diluted earnings per share (“EPS”) growth. Market TSR
                    reflects the return shareholders could earn during the year -
                    stock
                    appreciation and dividends - from an investment in the Company’s
                    stock.

                

          

          
            
               

            

            
               

              
                

              

            

            
               

            

          

          	 ·  	
                  The
                    Gillette
                    Factor
                    is
                    derived from a review and recommendation by the STAR Committee
                    based on
                    the results of the success of the Gillette integration. The factor
                    ranges
                    from 80% to 130% with 100% as the target. The same Gillette Factor
                    will
                    apply to all STAR award calculations. It will be determined by
                    assessing
                    performance during the fiscal year on various metrics including:
                    sustaining the overall health of both the P&G and Gillette businesses
                    during this period (based on market share and earnings progress);
                    achieving sales, research and administrative budget and synergy
                    objectives; meeting enrollment targets; and staying within integration
                    cost and restructuring estimates. The Gillette Factor will be
                    applied
                    starting with the results of fiscal year 2005/06. STAR awards
                    for fiscal
                    year 2004/05 will be based on only the Business Unit Performance
                    Factor
                    and the Corporate Adjustment Factor, as in prior years.
                    

                

          

          The
            STAR
            Committee makes recommendations to the Compensation & Leadership Development
            Committee regarding the actual awards to be made. The final awards are
            approved
            by the Compensation & Leadership Development Committee. STAR Awards for
            members of the Star Committee are determined exclusively by the Compensation
            & Leadership Development Committee 

          without
            any recommendation from the STAR Committee.

          

          

          III.    TIMING
            AND
            FORM 

          

          STAR
            awards are determined after the close of the fiscal year and are paid
            on or
            about September 15. The award form choices and relevant considerations
            are
            explained in payment preference materials generally in the form of Appendix
            1.
            Participants receive written notice of their award detailing the calculation,
            generally in the form of Appendix
            2.
            The
            grant letters are generally in the form of Appendix
            3.
            

          

          Generally,
            STAR awards are paid in cash. However, before the end of the calendar
            year
            preceding the award date, participants on record can choose their upcoming
            award
            in forms other than cash, such as stock options, stock appreciation rights
            or
            restricted stock units (for participants also in the Business Growth
            Program),
            depending on local regulations. To pay a STAR award in stock options,
            the
            Company compares current cash value to stock option value with a conversion
            factor that is reviewed annually. 

          
            
               

            

            
               

              
                

              

            

            
               

            

          

          Business
            Growth Program

           

          The
            Business Growth Program (“BGP”) is a part of the Company’s long-term incentive
            plan and is designed to provide additional focus on key Company measures
            for top
            executives with senior management responsibility for total Company results.
            Awards are made within the authority of the Additional Remuneration Plan
            and the
            2001 Stock and Incentive Compensation Plan. 

          

          I.    ELIGIBILITY

          

          The
            CEO,
            Vice-Chairs, Presidents, Global Function Heads, Senior Vice Presidents
            and
            equivalents may participate, as recommended by management and approved
            by the
            Compensation & Leadership Development Committee. 

          

          II.    CALCULATION

          

          A
            BGP
            Award may be payable for the three-year performance period running July
            1, 2005
            through June 30, 2008. Interim awards may also be payable at the conclusion
            of
            the first and second years of the program. The Compensation & Leadership
            Development Committee reviews and approves awards relative to the base
            period of
            fiscal year 2004/05. It assesses Company performance according to the
            pre-established financial measures of diluted earnings per share (“EPS”) growth
            and operating total shareholder return (“OTSR”). 

          

          Adjustments
            may be made for significant acquisitions and divestitures, major equity
            investments, or other unusual items not reflected in the Company’s operating
            plan or base year results. In all cases, the Compensation & Leadership
            Development Committee retains discretion to determine whether certain
            items
            should be included or excluded from award calculations and to verify
            that awards
            are appropriate and consistent with the long-term interests of shareholders.
            The
            Committee may reduce awards if it determines that payouts do not correspond
            to
            actual business results.

          

          	·  	
                  The
                    Three-Year Award is
                    calculated as: (Payout Factor) X (Participant's Target Award).
                    

                

          

          The
            Award
            Payout Factor
            ranging
            from 0% to 200% is assessed relative to a performance level of EPS growth
            and
            OTSR. 

          

          A
            Participant’s
            Target Award
            is based
            on a multiple of the executive’s base salary at the time of entry into the
            program. For the Chairman of the Board and CEO, the target is two times
            base
            salary, times three (the number of years in the performance period). For
            all
            others, the target is one times base salary times the number of years
            participating in the program. 

          

          	·  	
                  Interim
                    Awards
                    are payable only if EPS growth and OTSR meets or exceeds target
                    relative
                    to the base period at the end of the first year and the first
                    two years
                    combined, respectively. Interim awards are calculated using the
                    same
                    factors as the three-year award. However, each interim award
                    is only a
                    partial progress payment, paid at 30% of the full three-year
                    calculation.
                    Any interim payments are subtracted from the full three-year
                    award when
                    calculating the final BGP payment.

                

          

          III.    TIMING
            AND FORM

          

          BGP
            awards are delivered on or about September 15th
            for
            the
            fiscal year just completed. Each year’s award, if payable, will be delivered
            half in three-year restricted stock units (“Required RSUs”) and half in cash.
            Participants may elect to receive restricted stock units in place of
            the cash
            portion (“Elected RSUs”). The award form choices and relevant considerations are
            explained in payment preference materials generally in the form of Appendix
            1.
            Participants receive written notice of their award detailing the calculation,
            generally in the form of Appendix
            4.
            The
            grant letters are generally in the form of Appendix
            5.
            

          

          
            
               

            

            
               

              
                

              

            

            
               

            

          

          Program
            participants have their long-term incentives split between BGP and equity
            awards
            under the 2001 Stock and Incentive Compensation Plan. Their key manager
            awards
            under the latter plan are reduced in value by one-third of their three-year
            BGP
            target. 

          
            
              
              

            

            
              
              

              
                

              

            

            
              
              

            

          

          Appendix
            1: Payment Preference Materials for BGP / STAR Awards

          

          [DATE]

          [NAME]

          

          Subject: 
            Preferences
            for [YEAR] STAR and BGP Payments and Deferred Compensation
            Choices

          

          Your
            choices for the awards are:

          

          September
            [YEAR] STAR Award 

          	·  	
                  Cash
                    

                

          	·  	
                  Stock
                    Options 

                

          	·  	
                  Restricted
                    Stock Units (for BGP participants only) - no forfeiture provision
                    

                

          	·  	
                  Deferred
                    Compensation (for BGP participants only)

                

          

          September
            [YEAR] BGP Award (if applicable)

          	·  	
                  Three-Year
                    Restricted Stock Units (50% of award required in this
                    form)

                

          	·  	
                  Cash,
                    Restricted Stock Units - no forfeiture provision, or Deferred
                    Compensation
                    (50% of award subject to this election)

                

          

          Attached
            you will find an election form to be returned to [NAME]. 

          

          Please
            keep the following in mind as you consider your choices:

          	·  	
                  It
                    is recommended that you consult legal/tax/financial advisors
                    to determine
                    the appropriate award form(s) for your personal
                    situation.

                

          	·  	
                  While
                    your selection will be given consideration, it is not binding
                    on the
                    Company until approved by the Compensation & Leadership Development
                    Committee of the Board of Directors.

                

          

          IF
            YOU
            MISS THE [DATE] DEADLINE, YOU WILL RECEIVE THE DEFAULT (CASH).

          

          [NAME]

          
            
              
              

            

            
              
              

              
                

              

            

            
              
              

            

          

          

          [YEAR]
            EXECUTIVE COMPENSATION AWARD FORM PREFERENCES

          

          [YEAR]
            STAR Award Payable [DATE] [YEAR] Preference Selection

          
            	
                    Cash

                  	
                    ______%

                  	 
	
                    Stock
                      Options 

                  	
                    ______%

                  	 
	
                    Restricted
                      Stock Units

                  	
                    ______%

                  	
                    _______________
                      (Select year you want shares delivered, e.g., [YEAR], or one
                      year after
                      retirement)

                  
	
                    Deferred
                      Compensation

                  	
                    ______%

                  	 
	
                    Total

                  	
                    100%

                  	 

          

          

          [YEAR]
            Payment BGP Award Payable [YEAR] Preference Selection 

          (Complete
            for remaining 50%)

          
            	
                    Three-Year
                      Restricted Stock Units (if you leave the Company within 3 years
                      of grant
                      for reasons other than retirement, you forfeit these
                      units)

                  	
                    ____50%
                      (required)

                  	
                    _______________
                      (Select year you want shares delivered, e.g., [three years
                      after grant
                      date, any year later than three years after grant date, or
                      one year after
                      retirement)

                  
	
                    Cash

                  	
                    ______%

                  	 
	
                    Restricted
                      Stock Units

                  	
                    ______%

                  	
                    _______________
                      (Select year you want shares delivered, e.g., [YEAR], or one
                      year after
                      retirement)

                  
	
                    Deferred
                      Compensation 

                  	
                    ______%

                  	 
	
                    Total

                  	
                    100%

                  	 

          

          

          	·  	
                  You
                    must be an active employee as of the award date to receive any
                    non-cash
                    award

                

          	·  	
                  All
                    elections are irrevocable after [DATE].

                

          

          

          ____________________________________     ________________________

          Signature          Date

          

          Return
            form to [NAME]

          

          

          

          
            
              
              

            

            
              
              

              
                

              

            

            
              
              

            

          

          Appendix
            2: STAR Award Letter

          [DATE]

          Fellow
            P&G Leaders:

          

          I
            am
            pleased to announce the average STAR award for [YEAR] is [NUMBER] % of
            target.
            STAR awards are a combination of your individual business unit awards,
            the
            Company factor and the Gillette factor. Unit awards are decided by the
            STAR
            Committee based on a retrospective assessment of each unit’s performance. The
            Company factor is calculated based on P&G’s market TSR ranking in the peer
            group and earnings per share. The Gillette factor is based on a review
            done by
            the STAR Committee considering the results of the success of the Gillette
            integration. [EXPLANATION OF COMPANY RESULTS and COMPARISON TO PREVIOUS
            YEAR]

          

          Actual
            STAR awards as a percentage of target [HISTORICAL COMPARISON OF RESULTS
            TO
            PREVIOUS YEAR(S)]

          

          By
            remaining choiceful, focused, and disciplined, we can look forward to
            future
            success. Well done! Thanks.

          [NAME]

          Personal
            & Confidential

          Individual
            Award Summary

          [NAME]

          

          Your
            STAR
            Award is [NUMBER] payable in [FORM]

          

          
            	
                    [Number]

                  	
                    x

                  	
                    [Number]%

                  	
                    x

                  	
                    [Number]%

                  	
                    x

                  	
                    [Number]%

                  	
                    =

                  	
                    Number

                  
	
                    STAR
                      Target

                  	
                    x

                  	
                    Business
                      Unit Performance Factor

                  	
                    x

                  	
                    Corporate
                      Adjustment Factor

                  	
                    x

                  	
                    Gillette
                      Factor

                  	
                    =

                  	
                    STAR
                      Award

                  

          

          

          STAR
            Target

          
            
              	 Based on	 June 30 [YEAR] Base Salary:	 [NUMBER]
	 	 June 30 [year] Band:	 [NUMBER]
	 	 STAR Target Percent for Band:	 [NUMBER]
	 	 Based x STAR Target Percent:	 [NUMBER]
	 	 Your STAR Target:	 [NUMBER]

            

          

           

           

          
            
              	Business Unit Performance	 	 
	 Business Unit	 Weight	Peformance Factor
	 [Business Unit]	 [NUMBER]	 [NUMBER] %

            

             

             

          

          
            	 Corporate Adjustment
                    Factor	 
	 TSR One Year Ranking	 [NUMBER]
	 Earnings Per Share	 [NUMBER]
	 Corporate Adjustment Factor	 [NUMBER] %

          

           

          

          Gillette
            Factor                      [NUMBER]%

          

          Your
            STAR
            Award is [NUMBER] % of STAR Target

          
            
              
              

            

            
              
              

              
                

              

            

            
              
              

            

          

          Appendix
            3: Cover letter for STAR Grant 

          in
            Stock Options and Stock Appreciation Rights

          

          

          
            	
                    TO:

                  	
                    Short
                      Term Achievement Reward (STAR) Recipients of P&G Stock Options and
                      Stock Appreciation Rights*

                  

          

          

          The
            attached stock option grant letter refers to your STAR award. The grant
            was
            determined by dividing the gross award amount to be paid in stock options
            (shown
            on your award summary previously distributed) by the [DATE] average stock
            price
            of $ [NUMBER]. The result was rounded up to the next full share, with
            those full
            shares multiplied by [NUMBER]. No further action to accept this grant
            is
            required.

          

          You
            may
            retain these STAR stock options until their expiration date in [NUMBER]
            years
            even if you leave the Company, as long as you are in good standing. This
            is true
            for STAR stock options only as they represent payment for the award that
            you
            have already earned. These options will vest in [NUMBER] years.

          

          Stock
            options are granted under the terms and conditions of the 2001 Procter
&
Gamble Stock and Incentive Compensation Plan. The updated plan prospectus
            is
            available via the [WEBSITE].

          

          Please
            keep a copy of the grant letter for your records. If you have any questions
            about the award granted, please direct them to [NAME]. Questions related
            to the
            exercise process should be directed to [NAME].

          

          [NAME]

          

          *
            Recipients of stock appreciation rights should see their subsidiary Chief
            Financial Officer regarding the procedure for redeeming such
            rights.

          
            
              
              

            

            
              
              

              
                

              

            

            
              
              

            

          

          Grant
            Letter for STAR Award in Stock Options 

          and
            Stock Appreciation Rights

          

          [DATE]

          [NAME]

           

          Subject: Non-Statutory
            Stock Option Series xx-STAR-xx

          

          In
            recognition of your contributions to the success of the business, the
            Company
            hereby grants you an option to purchase, in accordance with and subject
            to the
            terms of The Procter & Gamble 2001 Stock and Incentive Compensation Plan,
            the Regulations of the Compensation & Leadership Development Committee of
            the Board of Directors and the Exercise Instructions in place from time
            to time,
            shares of the Procter & Gamble Common Stock as follows:

           

          
            	 Grant Value:	 [NUMBER]
	 Option Price per Share:	 [NUMBER]
	 Number of Shares:	 [NUMBER]
	 Date of Grant:	 [DATE]
	 Expiration of Option:	 [DATE]
	 Option Exercisable:	 [NUMBER]% after [DATE]

          

          

          You
            may
            access, download and/or print the terms, or any portion thereof, of the
            Plan by
            activating this hyperlink [LINK]. Nonetheless, if you would prefer to
            receive a
            paper copy of The Procter & Gamble 2001 Stock and Incentive Compensation
            Plan Prospectus, please send a written request via email to [EMAIL ADDRESS].
            Please understand that you will continue to receive future Plan prospectuses
            via
            electronic mail even though you may have requested a paper copy.

          

          This
            option is not transferable other than by will or the laws of descent
            and
            distribution and is exercisable during your life only by you. The Compensation
            & Leadership Development Committee has waived the provisions of Article
            G,
            paragraph 4 in the event of separation from the Company.

          

          Please
            note that when the issue or transfer of the Common Stock covered by this
            option
            may, in the opinion of the Company, conflict or be inconsistent with
            any
            applicable law or regulation of any governmental agency, the Company
            reserves
            the right to refuse to issue or transfer said Common Stock and that any
            outstanding stock options may be suspended or terminated if you engage
            in
            actions that are significantly contrary to the best interests of the
            Company or
            any of its subsidiaries.

          

          Under
            IRS
            standards of professional practice, certain tax advice must meet requirements
            as
            to form and substance. To assure compliance with these standards, we
            disclose to
            you that this communication is not intended or written to be used, and
            cannot be
            used, for the purpose of avoiding penalties, or promoting, marketing
            or
            recommending to another party any transaction or matter addressed
            herein.

          

          You
            do
            not need to do anything further to accept this award under the terms
            of the 2001
            Stock Plan.

          

          The
            Procter & Gamble Company

          [NAME]

          

           

          
            
              
              

            

            
              
              

              
                

              

            

            
              
              

            

          

          Grant
            Letter for STAR Award in RSUs 

          

          

          [DATE]

          [NAME]

          

          Subject: Award
            of Restricted Stock Units (STAR)

          

          This
            is
            to advise you that The Procter & Gamble Company, an Ohio corporation, is
            awarding you with Restricted Stock Units, on the dates and in the amounts
            listed
            below, pursuant to The Procter & Gamble 2001 Stock and Incentive
            Compensation Plan, and subject to the attached Statement of Terms and
            Conditions
            Form [CODE]

          

          Grant
            Date:              [DATE]

          Original
            Settlement Date:    [DATE]

          Number
            of
            Restricted Stock Units: [NUMBER

          

          Paragraph
            3(a) of Statement of Terms and Conditions Form [CODE] is not
            waived.

          

          As
            you
            will see from the Statement of Terms and Conditions Form [CODE], under
            certain
            circumstances you may agree with The Procter & Gamble Company to delay the
            settlement of your Restricted Stock Units beyond the Original Settlement
            Date.
            You may want to consult your personal tax advisor before making a decision
            about
            this matter.

          

          THE
            PROCTER & GAMBLE COMPANY

          [NAME]

          

          

          
            	
                    o

                  	
                    I
                      hereby accept the Award of Restricted Stock Units set forth
                      above in
                      accordance with and subject to the terms of The Procter & Gamble 2001
                      Stock and Incentive Compensation Plan and the attached Statement
                      of Terms
                      and Conditions for Restricted Stock Units, with which I am
                      familiar. I
                      agree that the Award of Restricted Stock Units, The Procter
& Gamble
                      2001 Stock and Incentive Compensation Plan, and the attached
                      Statement of
                      Terms and Conditions for Restricted Stock Units together constitute
                      an
                      agreement between the Company and me in accordance with the
                      terms thereof
                      and hereof, and I further agree that any legal action related
                      to this
                      Award of Restricted Stock Units may be brought in any federal
                      or state
                      court located in Hamilton County, Ohio, USA, and I hereby accept
                      the
                      jurisdiction of these courts and consent to service of process
                      from said
                      courts solely for legal actions related to this Award of Restricted
                      Stock
                      Units. 

                  

          

          

          
            	
                    o

                  	
                    I
                      hereby reject the Award of Restricted Stock Units set forth
                      above.

                  

          

          

          

          

          ___________________________________________________________________________

          Date                     Signature

          
            
              
              

            

            
              
              

              
                

              

            

            
              
              

            

          

          Appendix
            4: BGP Award Letter (Three-Year Award example)

          

          [DATE]

          

          TO: [NAME]

          

          Your
            award is calculated by multiplying your three-year target times the payout
            factor and subtracting any interim payments made to you in Year 1 and
            Year
            2.

           

          
            	 Three-Year Target:	 $[NUMBER]
	 Payout Factor:	 [NUMBER]%
	 Total Award:	 $[NUMBER]
	 Interim Payment Year 1:	 $[NUMBER]
	 Interim Payment Year 2:	 $[NUMBER]
	 Final BGP Payment:	 $[NUMBER]

          

          

          Your
            final BGP award is $[NUMBER]. You will receive 50% of your award in three-year
            restricted stock units consistent with the program design. The other
            50% will be
            delivered in the form shown below which you designated in your previous
            election(s). Your award will be paid on September 15.

           

          
            	Payment Preference 	 
	 3-Year RSUs:	 [NUMBER]
	 Cash:	 $[NUMBER]
	 RSUs:	 [NUMBER]
	 Deferred Compensation:	 $[NUMBER]

          

          

          Thank
            you
            for your leadership in achieving outstanding business and organizational
            results
            during the past three years.

          

          [NAME]

          
            
              
              

            

            
              
              

              
                

              

            

            
              
              

            

          

          Appendix
            5: Grant Letter for BGP Award in Restricted Stock
            Units

          

          

          [DATE]

          [NAME]

          

          Subject: Award
            of Restricted Stock Units
            - BGP [Three-Year / Elected]

          

          This
            is
            to advise you that The Procter & Gamble Company, an Ohio corporation, is
            awarding you with Restricted Stock Units, on the dates and in the amounts
            listed
            below, pursuant to The Procter & Gamble 2001 Stock and Incentive
            Compensation Plan, and subject to the attached Statement of Terms and
            Conditions
            Form [CODE]

          

          Grant
            Date:                                                         
[DATE]

          Forfeiture
            Date [for Three-Year RSUs only]:    [DATE]

          Original
            Settlement
            Date:                                     
[DATE]

          Number
            of
            Restricted Stock
            Units:                      
[NUMBER

          

          Paragraph
            3(a) of Statement of Terms and Conditions Form [CODE] is not waived.
            

          

          As
            you
            will see from the Statement of Terms and Conditions Form [CODE], under
            certain
            circumstances you may agree with The Procter & Gamble Company to delay the
            settlement of your Restricted Stock Units beyond the Original Settlement
            Date.
            You may want to consult your personal tax advisor before making a decision
            about
            this matter.

          

          THE
            PROCTER & GAMBLE COMPANY

          [NAME]

          

          

          
            	
                    o

                  	
                    I
                      hereby accept the Award of Restricted Stock Units set forth
                      above in
                      accordance with and subject to the terms of The Procter & Gamble 2001
                      Stock and Incentive Compensation Plan and the attached Statement
                      of Terms
                      and Conditions for Restricted Stock Units, with which I am
                      familiar. I
                      agree that the Award of Restricted Stock Units, The Procter
& Gamble
                      2001 Stock and Incentive Compensation Plan, and the attached
                      Statement of
                      Terms and Conditions for Restricted Stock Units together constitute
                      an
                      agreement between the Company and me in accordance with the
                      terms thereof
                      and hereof, and I further agree that any legal action related
                      to this
                      Award of Restricted Stock Units may be brought in any federal
                      or state
                      court located in Hamilton County, Ohio, USA, and I hereby accept
                      the
                      jurisdiction of these courts and consent to service of process
                      from said
                      courts solely for legal actions related to this Award of Restricted
                      Stock
                      Units. 

                  

          

          

          
            	
                    o

                  	
                    I
                      hereby reject the Award of Restricted Stock Units set forth
                      above.

                  

          

          

          

          

          ___________________________________________________________________________

          Date                        Signature

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