Document:

Exhibit

Exhibit 10.6
[Avon Letterhead]

18 May 2017

Private and Confidential

James Thompson 

Dear James,

It is with great pleasure that I am able to offer you on behalf of Avon Cosmetics Limited ("the Company"), wholly-owned subsidiary of Avon Products. Inc. ("Avon") the permanent position of  Senior Vice President, General Counsel and Chief Ethics & Compliance Officer of Avon. The Company is part of the Avon group of companies ("the Avon Group").  You will report to Sheri McCoy, Chief Executive Officer of Avon and your expected commencement date will be on or about 1 August, 2017. This offer is subject to successful receipt of a UK Visa.

The terms and conditions of your employment are set forth herein and in your contract of employment, attached hereto and incorporated in all respects.

Your annual base salary will be £490,000 payable in accordance with the Company's remuneration practices described in your contract of employment. Although this salary is quoted on an annual basis, it does not imply a specific period of employment.

You will be eligible to participate in the annual incentive program available to similarly situated Senior Vice President-level Associates. Your annual target award in 2017 will be 70% of your earned eligible base salary. Annual awards are contingent on relevant individual and business performance goals being achieved and the terms and conditions of the applicable annual incentive program. Annual incentive program payments, if any, are generally made early in the year following the performance period. For the 2017 year, the value of your annual incentive award shall be reduced pro-rata based on your employment commencement date (subject to applicable performance measures being achieved), provided that your employment commences before October 1, 2017.

You will be eligible to participate in the long-term incentive program ("LTIP") available to similarly situated Senior Vice President-level Associates. Your first regular LTIP award is expected to be granted on your start date, with an expected recommended target value of 180% of your eligible, annual base salary, subject to approval of the Compensation and Management Development Committee of Avon's Board of Directors. Subsequent LTIP awards, if any, generally will be granted in March of each year, in the same form and subject to the same terms and conditions as LTIP awards for similarly situated Senior Vice President-level Associates.  Long-term incentive awards for your level are currently delivered 1/3 in Restricted Stock Units (RSUs), 1/3 in Performance RSUs and 1/3 in Premium-priced Stock Options.  Avon reviews the annual and long-term incentive programs from time to time and reserves the right to change the applicable award mix and the design of the programs at its discretion.

The Company believes strongly in a culture of ethics and compliance and you will be covered by and must comply with Avon's Code of Conduct and other policies. In particular, the Company expects all staff to respect the privacy of other individuals and protection of their personal data. This offer is subject to you agreeing and signing up to our data privacy terms, which are set out separately.

As a senior executive of Avon, you will also need to adhere to stock ownership guidelines, which encourage executive share ownership and align executive interests with those of shareholders. You will have an ownership target equal in value to two times base salary and will be expected to hold 50% of net shares acquired upon vesting of equity awards until this target has been satisfied. Additionally, you will be covered by Avon's Compensation Recoupment Policy and Avon's Change in Control Policy.

You represent and agree that your acceptance and execution of this offer does not conflict with or violate any of the terms, conditions or provisions of any existing contractual relations to which you are bound,  and does not conflict with any duties owed or owing to your current employer.

Your employment is contingent upon you passing a satisfactory background investigation, reference checks and compliance with immigration law. As you may be aware, government regulations requires that the Company verify the employment authorisation status of all new employees.

Once you sign your new contract we will send you some additional forms to complete:

		
	•
	Pension entitlement and enrolment

		
	•
	Bank details

		
	•
	Avon's data privacy agreement

		
	•
	When you join Avon you will be required to access our HR system and update both your contact information and personal Information.

		
	•
	You will also be required to bring a copy of your right to work documents on your first day at Avon

Please contact Gina Fitzsimons if you have any queries.

In the meantime we look forward to you joining the Company. 

Yours sincerely,

/s/ Susan Ormiston

Senior Vice President, Human Resources and Chief Human Resources Officer

cc: Gina Fitzsimons, Group Vice President, Human Resources, Global Compensation & Benefits &
Global Functions,

Accepted and Agreed to:

	
				
	/s/ James Thompson
	 
	18-5-17
	 

	James Thompson
	 
	Date
	 

[Avon Letterhead]
Contract of Employment

This statement contains the main terms and conditions of your employment with Avon Cosmetics Limited ("The Company"), for the position of Senior Vice President, General Counsel and Chief Ethics & Compliance Officer of Avon.
Please ensure you read and understand this document.  If you have any queries relating to your employment please contact the Human Resources Department.

		
	Surname:
	Thompson

		
	Forename:
	James    

		
	Address of Employee:
	TBC

		
	Post code:
	TBC

		
	Job Title:
	Senior Vice President, General Counsel and Chief Ethics & Compliance Officer of Avon

		
	Reporting to:
	Chief Executive Officer

		
	Grade:
	A02

		
	Effective Date:
	On or about 1August 2017 (subject to successful receipt of a UK  Visa)

		
	Continuity of Employment:
	No previous service counts towards your continuity of employment.

		
	Salary:
	£490,000 per annum

		
	Annual Incentive Programme:
	As stated in your offer letter, you are eligible for the annual incentive programme available to similarly situated Senior Vice President level associates, with a target level of 70% of earned eligible base salary. The actual amount of bonus awarded is contingent on relevant individual and business performance goals being achieved and the terms and conditions of the applicable annual incentive program. The payment of bonus and the rules of the scheme are at Avon's discretion and are subject to change. Details of the bonus scheme will be supplied annually.

		
	Long Term Incentive Plan:
	As stated in your offer letter, you are eligible to participate in the long-term incentive plan available for similarly situated associates at your level. Further details of the scheme are available on request. Please note the terms of the scheme    are subject to change.

		
	Working hours:
	Weekly hours: 37.5 plus such additional hours as are necessary for the proper performance at your duties. You acknowledge that you shall not receive further remuneration in respect of such additional hours.

		
	Location:
	You will be based at Avon's corporate headquarters in Chiswick.

You may be required to work at other Avon sites from time to time.
		
	Remuneration:
	Method of Payment

You will be paid monthly in arrears by or on the last working day of each month by direct credit transfer to your bank or building society account.
Basic Pay Review
Your basic pay will be reviewed annually based on performance.
Deductions
The Company reserves the right to make deductions from your pay in the event of any monies owing to the Company but attributable to you.
		
	Normal Working Pattern:
	The Company operates in accordance with the Working Time Regulations 1998. If you require further information please refer to the Company Working Hours Policy held electronically on the HR website.

		
	Flexibility:
	Avon will expect you to perform all reasonable tasks assigned to you during the course of your employment which it believes you are competent to perform; you will be required to be flexible in your job responsibilities and to react to the needs of the business. This means that you may be required to: 

		
	1.
	vary your working hours

		
	2.
	to travel on the Company's business (both within the United Kingdom or abroad} as may be required for the proper performance of your duties under the appointment

		
	3.
	carry out duties which may be outside the scope of your normal responsibilities but which you are competent to perform.

The Company will give reasonable notice for any changes with regard to occasional travel that might affect you and will always strive at a very minimum to 

provide 48 hours’ notice. During your employment, you will not be required to work outside the United Kingdom for any continuous period of more than one month.
		
	Private Medical Insurance:
	You will be eligible for private medical cover for yourself

and up to family cover, depending on your personal circumstances.
If you wish to join the scheme you can do so by using our Flexible Benefits system, UP2U. You will receive confirmation of the website and access details shortly after joining the Company.
Further changes to your PMI subscription can only be made once a year when the UP2U 'window' is opened to all eligible employees or if a 'lifestyle event’ (marriage/divorce/birth of child) occurs.
Please note PMI is a benefit which is taxable at source.
		
	Life Assurance:
	4 times annual salary is paid on death in service (subject to a cap of £ 1.8 Million).

		
	Company Sick Pay:
	The Company operates a Company Sick Pay Scheme

for the benefit of its employees which is in addition to Statutory Sick Pay entitlement. All payments made under this company scheme are at the sole discretion of the Company. Please refer to the Company Sickness Absence Policy which outlines the circumstances in which Company sick pay may be withheld.

                	
			
	Service with Avon
	 
	Entitlement

	0-1 year
	 
	4 weeks

	1-2 years
	 
	8 weeks

	2-5 years
	 
	16 weeks

	5+ years
	 
	26 weeks

		
	Pension Scheme:
	Avon operates an employee contributory pension scheme which is open to all permanent and fixed term employees. Under current Auto Enrolment legislation Avon is required to automatically enroll employees who meet certain criteria into a qualifying scheme. Full details of the current Avon Pension Scheme, the enrolment criteria and how Auto Enrolment is applied can be found in the enclosed pension documents.  For tax purposes, the Pension Input Period in the Avon Cosmetics Pension Plan ends on 3181 March each year.

		
	Company Car:
	You are eligible for a Company Car at the benchmark level for your grade or an annual cash equivalent of £15,252, subject to normal deductions.

You will be provided separately with a copy of the Company Car policy.
Further details can be obtained from the Car Fleet department on [-].
		
	Holiday Entitlement:
	The Company's holiday year runs from 1 January to 31 December. You are entitled to 28 days holiday per year plus 8 public holidays.

An employee will accrue holiday from the day their employment with Avon starts.  For the avoidance of doubt, you will be able to take holiday as from the start of your employment, without the need to accrue it first. At the conclusion of your employment, you will be paid for any accrued but untaken holiday.
Holiday entitlement on termination will be calculated according to the percentage of the year worked i.e. as the number of days worked divided by 365 (366 for a
leap year).  Should you have taken in excess of your accrued entitlement the company may deduct the cash equivalent from your final salary.  At the Company’s discretion you may be required to reserve several days of your holiday entitlement. You will be notified of any such requirement in advance on an annual basis.

		
	Flexible Benefits:
	The Company operates a self-service electronic flexible benefits scheme called UP2U. Shortly after joining the Company you will be sent details of Avon's UP2U scheme which will allow you to opt into the Private Medical Scheme and to purchase childcare vouchers at that time. Following this there are annual enrolments for the flexible benefits scheme. Enrolment details will be sent to you at this time.

		
	Notice Period:
	In the event of involuntary termination (other than for cause) the Company agrees to pay you the equivalent of 24 months' base salary and support the repatriation of your family to the US, on the basis that you enter into an appropriate settlement agreement with the Company which shall include for example a general release of claims, non-competition and non-solicitation provisions and other covenants.

In all other circumstances, you are entitled to receive and are obliged to give 30 days' notice (or statutory notice, whichever is greater).

The Company reserves the right to pay salary in lieu of notice. Alternatively the Company reserves the right to terminate your employment without notice or salary in
Lieu of notice in accordance with the Disciplinary Procedure.

Should you wish to resign from the Company, a letter of your intended resignation should be sent to the Company. The Company requires you to work your notice period unless otherwise mutually agreed. If you fail to give notice to the Company or give the incorrect notice, the Company shall be entitled to withhold a sum from any monies due to you equivalent to the value of the salary you would have been entitled to during the   un-worked notice period. 

For the purposes of this clause, a termination "for cause" shall mean a termination by the Company because of your (a) continued failure to perform substantially your duties; (b) your wilful failure to perform substantially your duties or other wilful conduct that is materially detrimental to the Company; (c) your personal dishonesty in the performance of your duties;
(d) your breach of fiduciary duty involving personal profit; (e) your commission or conviction of a felony or misdemeanour or pleading guilty to a felony or misdemeanour; (f) your wilful or significant violation of any Avon rule or procedure, including without limitation, absenteeism, violation of safety rules or insubordination; or (g) violation of the Code of Conduct.    
All determinations of whether any of the events above have occurred and/or whether cause shall have occurred will be determined by the Company in its sole discretion.

		
	Garden Leave:
	The Company reserves the right to require you not to attend your place of work for all or part of your notice period, in its absolute discretion. This period is referred to as "Garden Leave". During Garden Leave:

		
	(a)
	the Company shall be under no obligation to provide

any work to you and may revoke any powers you hold on behalf of the Company (or any group company);
		
	(a)
	the Company may require you to carry out alternative duties or to only perform such specific duties as are expressly assigned to you, at such location (Including your home) as the Company may decide;

		
	(b)
	you will be continue to receive your basic salary and normal contractual benefits in the usual way and subject to the terms of any benefit arrangement;

		
	(c)
	you shall remain an employee of the Company and bound by the terms of this agreement (including any

implied duties of good faith and fideli1J' ); and
		
	(d)
	the Company may exclude you from any premises of the Company (or any group company).

Any accrued but unused holiday entitlement shall be deemed to be taken during any period of Garden Leave.

		
	Company Equipment:
	If you are allocated any Company equipment and your employment is terminated for whatever reason, unless otherwise agreed in writing, you must immediately return all company equipment in good working order as received by you.

Deductions may be made from any final payments for any associated loss or damage.

		
	Code of Conduct:
	Some examples are outlined below, however this is not exhaustive and you should refer to the Code of Conduct on the Avon Global Website for further guidance.

		
	Code of Conduct - Gift
	The exchange of gifts is often used as a way to enhance business relationships, and within the guidelines stated in Avon's Code of Conduct and Ethics, this is an acceptable practice. Avon permits gifts only of "nominal value,” such as meals, fruit baskets, and bottles of wine, flowers, chocolates/candies, tickets lo occasional sporting events or concerts, and other routine gifts.

Any gifts of greater than nominal value or that otherwise exceed the common courtesies associated with ethical business practices could give the appearance of impropriety and must not be accepted. Examples of gifts that are not permitted include vendor-sponsored trips, vacations, luxury leather accessories, electronics or sporting equipment. Cash and/or loans of any amount are strictly prohibited at all times.

These same standards apply to associates of all levels within the company. If there is any question as to whether or not the value of an offered gift is more than nominal, consult with your Manager or HR.
Code of Conduct - Conflict of Interest: In line with Avon's Code of Conduct and Ethics, employees have an obligation to act in the best interest of the Company. Conflicts of interest are prohibited, which means that no employee should place himself or herself in a situation in which personal interest might conflict with the interest of the Company. A breach of these rules may lead to disciplinary action.
A "conflict of interest”' occurs when an associate's private or family Interest interferes in any way, or even appears to interfere, with the interest of the Company.
A conflict of interest can arise when an associate takes an action or has an Interest that may make it difficult for him or her to perform his or her work objectively and effectively.
		
	Code of Conduct - Other Interests:
	You should not engage directly or indirectly in any business or employment if, in the reasonable opinion of the Company, this work may have an adverse effect upon the performance of your duties for the Company.

		
	Inventions and Improvements:
	Any invention, design or improvement upon any existing Invention, product or work during the course of your employment will belong to the Company. This includes any computer programme or design whether or not it is capable of patent registered design, design right, database, copyright or any other similar protection, and whether you made or discovered it alone or in conjunction with anybody else. You must immediately tell your Line Manager of any such invention or improvement.

It the Company asks you to do so, you must comply with any requests that it makes in order to ensure that the invention or improvement becomes or remains the property of the Company or its nominee.
		
	Confidential Information:
	You must not (at any time) either during or at any time after the termination of your employment:

		
	•
	divulge, disclose or communicate any confidential Information to any person or persons, firm or company other than duly authorised employees of the Company

or
		
	•
	use any confidential information for your own purposes or for any purposes other than those of the Company.

You must at all times exercise utmost care, attention and discretion in handling any confidential information relating to the Company or personal information relating to an individual of which you are aware.

For the purposes of this clause, confidential information includes any of the below:
		
	•
	information in whatever form relating to the organisation

		
	•
	business plans

		
	•
	finances

		
	•
	transactions

		
	•
	terms of business

		
	•
	marketing strategies

		
	•
	sales

		
	•
	customers and prospective customers

		
	•
	suppliers

		
	•
	design and manufacturing process

		
	•
	technical specifications

		
	•
	private affairs of the Company

		
	•
	personal information relating to an individual

		
	•
	other information of a confidential nature

		
	Data Protection and Privacy: 
	All Information within the Avon Group is processed in accordance with the requirements of the Data Protection Act. The Company expects all staff to respect the privacy of other individuals and protection of their personal data. Your offer of employment is subject to you agreeing and signing up to our data privacy terms.

		
	Right to Search:
	To help the Company provide a safe environment and to deter criminal, obscene, pornographic or defamatory acts. While on Company premises or while using company equipment, the Company has the right to carry out:

		
	•
	Searches of your person, personal belongings and vehicle without notice in accordance with Company guidelines.

		
	•
	Drug, drink and substance checks without notice, in line with the Misuse of Drugs and Alcohol policy.

		
	•
	Video surveillance.

		
	•
	Monitoring of electronic communications on private or public lines, such as email.

Failure to comply will lead to disciplinary action and may lead to dismissal.

		
	Key Company Policies:
	The following policies are available on the HR website:

Grievance Policy
Performance Capability Policy Misconduct Policy
Sickness Absence Policy
		
	Medical Examinations:
	The Company may require a medical report to enable it to make decisions regarding your employment, e.g. in cases of Ill-health. The Company may require you to undergo a medical examination by its medical advisor. In addition, you will be expected to provide the Company's health professional with information about your medical condition as it may reasonably require. This is in order to ensure your state of health enables the Company to act within both yours and the Company's best interest.  You may be asked in specific circumstances to consent to the Company contacting your doctor and to his or her discussing your medical condition and history with us or a doctor nominated by the Company.

		
	Collective Agreement:
	There is no collective agreement which directly affects your employment.

		
	Variations to Terms and Conditions:
	The Company reserves the right to change the terms and conditions of your employment from time to time to take into account Company policy, the needs of the business and/or new legislation. This may include Implementation of new policies and procedures as they become necessary to meet the needs of the business.

Reasonable notice will be given when this occurs.
		
	Entire Agreement
	This agreement, together with the offer letter and Relocation Letter, constitute the entire agreement between the parties and supersedes and extinguishes all previous agreements, promises, assurances, warranties, representations and understandings between them, whether written or oral, relating to its subject matter. Each party acknowledges that in entering into this agreement it does not rely on and shall have no remedies in respect of any statement, representation, assurance or warranty (whether made innocently or negligently) that is not set out in this agreement.

		
	Governing Law
	This agreement and any dispute or claim arising out of or in connection with it or its subject matter or formation shall be governed by and construed in accordance with the law of England and Wales.

		
	Jurisdiction
	Each party irrevocably agrees that the courts of England and Wales shall have exclusive jurisdiction to settle any dispute or claim arising out of or in connection with this agreement or its subject matter or formation.

I confirm that I agree with the terms and conditions set out in this Contract of Employment and agree to be bound by the rules of the Company policies:

Name: James Thompson
Signed: _/s/ James Thompson ______________

  Date:   ___18-5-17______________________

Signed on Behalf of the Company

Name:  Susan Ormiston, Senior Vice President, Human Resources and Chief Human Resources Officer
   
Signed: __/s/ Susan Ormiston ______________

Date:    ___18-May-17_____________________Exhibit

Exhibit 10.7
[Avon Letterhead]

Private and Confidential
18  May  2017

James Thompson

RELOCATION TO THE UNITED KINGDOM
Dear James,

We are pleased to confirm the terms and conditions relating to your relocation to the United Kingdom ("Destination Country") from the United States ("Departure Country") in connection with your anticipated employment with Avon Cosmetics Limited, a wholly owned subsidiary of Avon Products, Inc. (collectively for purposes of this letter, "Avon").

This letter (the "Relocation  Letter") is linked with Avon 's Permanent  International Transfer Policy -Tier 1 (hereafter "the Permanent Relocation Policy") as may be in effect from time to time, and summarizes key points in the Permanent Relocation Policy as it pertains to your relocation and may contain certain additional requirements and terms. The Permanent Relocation Policy may be changed from time to time as legal requirements may dictate or, subject to the above provisions, new practices may require or for other reasons at the discretion of Avon. In addition, local conditions and guidelines applicable to Avon international transfers in the Destination Country will also govern.  The items in this letter do not create a contract of employment, but simply seek to confirm the conditions that pertain to your relocation to the Destination Country. In the event of any change in circumstances, or additional matters not known at this time, Avon reserves the right to make adjustments to this letter.

IMPORTA NT DETAILS

It is expected that you will relocate to the Destination Country on or about August 1, 2017 coincident with the commencement of your employment with Avon Cosmetics Limited, pending the grant of your work permit/visa in the Destination Country, and your acceptance of the terms and conditions of this letter and your offer letter and contract of employment.

For the purposes of this letter, your accompanying family will include yourself, your spouse/partner and your dependent child.

Please note that the payments and benefits set out in this letter are only payable provided you remain employed by Avon at the time of payment.
Expense Reimbursement
Weichert, a third party relocation company, will be responsible for expense reimbursement of all relocation-related expenses. Relocation expenses are not to be submitted through the internal expense system or any local expense process for reimbursement without prior approval from Avon Global Mobility. Most relocation expenses are taxable and therefore Avon Global Mobility and your Weichert Relocation Counselor must process all relocation expenses to ensure proper tax compliance for Avon. Expenses must be submitted to Weichert for reimbursement within three (3) months of the date the expense was incurred.

Work Permit/Visa
You are required to meet the entry and visa/work permit requirements of the Destination Country prior to your arrival. Avon will therefore arrange for all appropriate immigration documents, visas, and work permits to be obtained in order to facilitate your permanent relocation. Your relocation terms and conditions are subject to this compliance, and as such you are not permitted to move to your Destination Country and begin the role until you have obtained all necessary immigration documents.

Avon will cover the costs associated with you and your accompanying family obtaining the appropriate immigration documentation, including the costs of any medical examinations and police checks. While Avon will assist you in preparing your passport(s) and visa/work permit applications, you are responsible for taking all required action to secure these documents. You are also responsible for ensuring your passport and the passport of your accompany family, as well as any necessary endorsements remain valid and up to date.

You are not permitted to work in the Destination Country until you have obtained proper work authorization. You should consult with the Avon Global Mobility team and/or the Avon designated immigration services law firm prior to making plans for business travel or relocation to ensure that your plans are compatible with immigration regulations in the Destination Country. Compliance is a very serious matter for Avon and Associates are expected to comply with the Destination Country laws and regulations.

TRANSITION SUPPORT FOR FIRST YEAR OF EMPLOYMENT

During the first year of your employment, we understand that your family will generally remain in the United States while you move to the Destination Country. Given this transition, the following support will be provided to you during this first year period or until the date on which your family relocates to the Destination Country, whichever is earlier.

Destination Country Housing and Utilities
You will be provided with a two (2) bedroom suitable fully-furnished serviced corporate apartment in or reasonably proximate to Chiswick (London) for the first year of your employment. Avon will cover the full cost of this housing, as well as typical utilities costs (e.g. gas, electricity, water and waste removal). In the event you select a location that exceeds the reasonable cost of a corporate apartment in Chiswick, you will be responsible for any difference in cost.

Your Duty of Care: You are required to exercise reasonable due diligence while you inhabit and maintain the rental property or serviced accommodation in accordance with the terms and conditions of the applicable rental agreement, and should understand the meaning of acceptable wear and tear under its term. If liability for property damage (including cabinet or furniture damage) occurs due to the fault or negligence of you and/or your family or guests, Avon will not reimburse for damages. You will be responsible for any and all reasonable and appropriate repair and maintenance expenses throughout your stay (including lawn care/garden maintenance, and pool maintenance, as applicable, but excluding maintenance and repair of structural elements, appliances, HVAC, plumbing, electrical systems and similar expenses, unless due to property damage by you and/or or family or guests as provided for above). Avon reserves the right to collect any amount withheld from the company-paid security deposit from any amount you are due from Avon, including but not limited to: base salary, bonus, any incentive compensation awards, relocation allowances, expense reports, tax equalization calculations etc. to the extent allowed by law.

Home Leave Allowance
Avon will provide you with a home leave allowance which is designed to give you the opportunity to maintain ties with family and friends in the Departure Country. The allowance will be based upon two (2) roundtrip airfares for you from London, United Kingdom to Cincinnati, Ohio in the United States, via the most direct route available, plus the estimated cost of ground transportation to/from the airport. Class of travel shall be in accordance with Avon's business travel policies. Your home leave allowance will be paid as a lump sum upon hire and will be grossed-up to cover all applicable taxes. You are expected to use vacation leave during home leave.

International Medical Insurance
While your accompanying family members remain in the Departure Country, you and your family will be enrolled in Avon's international assignee medical plan. This plan provides coverage for medical, dental, prescription drug, and medical evacuation. Additional details will be provided separately. This coverage will last for one year from the date of hire or until the date on which your family relocates to the Destination Country, whichever is earlier. The coverage will only remain in place whilst you are employed by Avon.

Tax Assistance
The objective of tax assistance is to ensure that your tax liability during the first year of your employment will be approximately the amount that would be payable if you were working and living in the United Kingdom exclusively. The tax assistance is limited to income tax and social taxes on income you earn due to your Avon employment. A tax assistance calculation/reconciliation will be prepared at the end of each relevant calendar year to determine if there is any incremental tax liability to you in this regard, and if so, it will be covered by Avon. After your one-year anniversary with Avon, this assistance will no longer be provided

You are required to attend a tax briefing with Avon's preferred tax advisor, Ernst & Young LLP (hereafter "EY"), to discuss the tax assistance and the Departure Country and Destination Country tax issues and obligations. The scope of the briefings will include overview of applicable tax rules, including residency issues (and the requirement to complete special departure documentation) and personal tax concerns related to the international relocation.

PERMANENT RELOCATION SUPPORT

Your family is expected to relocate to the UK approximately one year from your date of hire. At that time, you will generally be eligible for relocation benefits under the Permanent Relocation Policy as may be in effect from time to time, which includes, but is not limited to, a home finding trip. destination services, miscellaneous relocation allowance of USD 10,000, relocation travel for you and your accompanying family, temporary living accommodations expenses, shipment of household goods, one home leave allowance, access to an educational consultant (which, notwithstanding the foregoing, shall be made available immediately upon your acceptance of the Employment Agreement) and education assistance for your accompanying dependent child for one (1) year. Such payments or benefits will be grossed-up to cover all applicable taxes. In addition, you will also be eligible for the following:

Transition Premium
To help you address the reported economic penalties generated by this international relocation, you will receive a one-time payment of USD 10,000 within thirty (30) days following your family's relocation to the UK. This payment will be converted to and paid in GBP and is designed to cover expenses such as: pet shipment costs, Departure Country property management or lease cancellation fees, additional family/spouse/partner supports etc. This payment will be grossed-up to cover all applicable taxes.

Destination Country Housing Allowance
As there is a relevant difference between real estate markets and housing rental costs between Cincinnati, Ohio in the Departure Country and the Destination Country, Avon will provide you with a monthly allowance for  two (2) years to help temporarily bridge the gap. Avon will cover any associated Departure or Destination Country taxes on this allowance, and therefore the amount will be grossed-up to cover all applicable taxes. This allowance will be phased-out over two (2) years as per the following schedule:

		
	•
	First year: Monthly allowance of approximately GBP 2,500

		
	•
	Second year: Monthly allowance of approximately GBP l,250

Medical Insurance
After the coverage under Avon's international assignee medical plan ceases as described above, Avon will consider your family's needs for medical insurance at that time and the coverage to be provided under your Employment Contract and evaluate whether any additional or alternative medical insurance benefits will be provided to you, with any such decision to be made in Avon's sole discretion.

TAX PREPARATION AND FILING SUPPORT

EY will be completing your Destination County and Departure Country income tax returns for the first calendar year of your employment and for the next subsequent two (2) calendar years thereafter provided you remain employed by Avon Cosmetics Limited (Avon's cost not to exceed GBP 10,000 per year). It is therefore imperative that you make contact with them to ensure that all necessary information is being compiled and that the tax process is in place to file your tax returns on a timely basis.

CERTAIN REIMBURSEMENTS AND PAYMENTS

Payments (including reimbursements) addressed in this letter may be subject to Section 409A of the U.S. Internal Revenue Code ("409A"). In order to ensure compliance with 409A, please note the following: Many of the benefits addressed in this letter are provided to you via reimbursement from Avon. For tax reasons, in many cases (noted above), Avon commits to providing you with a reimbursement as soon as administratively possible but no later than March 15th of the year following the year in which the underlying expense is incurred. However, in order for Avon to be able to reimburse you on a timely basis, you must submit the reimbursement request and the supporting documentation as soon as possible in accordance with normal expense reimbursement policy, but no later than January 31st of the year following the year in which the underlying expense is incurred. Your failure to meet this deadline may lead to Avon being unable to reimburse you by the applicable March 15th (or other applicable date), in which case you could become subject to significant additional taxes and penalties under 409A, and Avon will not provide additional payments to you to cover any such additional taxes and penalties. Avon makes no representation about the effect of 409A on the provisions of this letter and Avon will not have any liability to you in the event that you become subject to taxation under 409A.

TERMINATION OF EMPLOYMENT

Avon will pay the actual costs of moving you and your family and your personal effects back to Cincinnati, Ohio in the United States if the return trip is made within a reasonable period of time following the date of your termination in the event of: (i) the involuntary termination of your employment (other than for cause), or (ii) your retirement from Avon, on the basis that you enter into an appropriate settlement agreement with Avon as described in your Employment Agreement. For the purposes of this clause, 'retirement' shall mean a voluntary termination of employment (not for cause) whereby:

		
	•
	you reach retirement age under the UK pension scheme (as referred to in your Employment Agreement); and

		
	•
	you have no alternative employment after the termination of your employment with Avon

In the event that you resign under any other circumstances or are terminated for cause, Avon will reimburse only the repatriation costs that are mandated by law, if any.

ln the event you resign (for any reason, including retirement) or are terminated for cause within twenty­ four (24) months following the start of your employment or, if later, twelve (12) months following the start of your permanent relocation, you may be required to repay Avon for relocation expenditures paid or reimbursed by Avon, as outlined in the Permanent Transfer Policy and the Relocation Repayment and Authorization Agreement.

We wish you best in your move,

Sincerely,

/s/ Susan Ormiston
  _______________________________
Susan Ormiston
Senior Vice President, Human Resources and Chief Human Resources Officer

ACKNOWLEDMENT AND ACCETANCE

l hereby agree to and accept the foregoing terns and condition s. l acknowledge that 1have received the following documents: Avon 's Permanent International Transfer Policy -Tier I. 1 understand that Avon 's policies are subject to amendment and change as deemed appropriate by Avon.

/s/ James Thompson                        18-5-17
_________________________                     ___________________
James Thompson                          Date

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