Document:

2006 Restricted Stock Plan

 EXHIBIT 10 (j) 
 ALBERTO-CULVER COMPANY 
 2006 RESTRICTED STOCK PLAN 
 (as amended through October 22, 2008) 
 SECTION
1. ESTABLISHMENT AND PURPOSE 
 1.1 Establishment The Alberto-Culver Company (the “Company”) hereby establishes a
restricted stock plan for (i) Key Employees, as defined herein, and (ii) members of the Board of Directors who are not officers or employees of the Company or any of its subsidiaries (“Eligible Directors”) which shall be known as
the 2006 Restricted Stock Plan (the “RSP”). 
 1.2 Purpose The purpose of the RSP is to enable the Company to attract,
retain, motivate, and reward Key Employees and Eligible Directors by providing them with a means to acquire an equity interest or to increase such interest in the Company. 
 1.3 Definitions Whenever used herein, the following terms shall have the meanings set forth below: 
  

	 	(a)	“Board” means the Board of Directors of the Company. 

  

	 	(b)	“Change in Control” shall have the meaning set forth in Section 7.2(a). 

  

	 	(c)	“Committee” means the Compensation and Leadership Development Committee of the Board or, if any member of the Committee is not (i) an “outside director”
within the meaning of Section 162(m) of the Internal Revenue Code of 1986 and the rules and regulations thereunder (the “Code”) or (ii) a “non-employee director” within the meaning of Section 16 (“Section
16”) of the Securities Exchange Act of 1934 and the rules and regulations thereunder (“Exchange Act”), the Committee shall set up a subcommittee comprised solely of outside directors and non-employee directors for purposes of all
matters arising under this RSP involving “officers” within the meaning of Rule 16a-1(f) under Section 16, and “covered employees” within the meaning of Section 162(m) of the Code for the plan year at issue.

  

	 	(d)	“Disability” shall have the meaning provided in the Company’s applicable long-term disability plan and such disability continues for more than three months or, in the
absence of such a definition, when a Participant becomes totally disabled as determined by a physician mutually acceptable to the Participant and the Company before attaining the Retirement age as defined below and if such total disability continues
for more than three months. Disability does not include any condition which is intentionally self-inflicted or caused by illegal acts of the Participant. 

  

	 	(e)	“Exempt Person” and “Exempt Persons” shall have the meaning set forth in Section 7.2(b). 

  

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	 	(f)	“Fair Market Value” shall mean the average of the high and low transaction prices of a share of Common Stock as reported in the New York Stock Exchange Composite
Transactions on the date as of which such value is being determined or, if there shall be no reported transactions for such date, on the next preceding date for which transactions were reported. 

  

	 	(g)	“Key Employee” means an active employee (including officers and directors who also are employees) of the Company or its subsidiaries with direct impact on the performance
of the Company. 

  

	 	(h)	“Incumbent Board” shall have the meaning set forth in Section 7.2(c). 

  

	 	(i)	“Participant” means Key Employees designated by the Committee and Eligible Directors who are awarded and hold Restricted Stock pursuant to the RSP.

  

	 	(j)	“Restricted Stock” shall mean the Common Stock of the Company, $.01 par value, with such restrictions as described in Section 6. 

  

	 	(k)	“Restricted Stock Agreement” shall have the meaning set forth in Section 6.1. 

  

	 	(l)	“Retirement” shall be reached for an employee when his or her employment terminates and at the time of such termination the sum of such employee’s age and years of
service as an employee of the Company or any of its subsidiaries equals or exceeds 75 years. Retirement shall be reached for an Eligible Director when his or her directorship terminates and at the time of termination such Eligible Director has
served on the Board for at least three years, provided that such termination of the Eligible Director was not by the Company for cause. 

 SECTION 2. ADMINISTRATION 
 2.1 Administration The RSP shall be administered by the Committee. The Committee shall
have full power to construe, administer and interpret the RSP, and full power to adopt such rules and regulations as the Committee may deem desirable to administer the RSP. No member of the Committee shall be liable for any action or determination
made in good faith with respect to the RSP or any Restricted Stock thereunder. Determinations by the Committee under the RSP need not be uniform and may be made by it selectively among Participants, whether or not such persons are similarly
situated. 
 2.2 Finality of Determination The determination of the Committee as to any disputed questions arising under this RSP,
including questions of construction and interpretation, shall be final, conclusive and binding. 
  

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 SECTION 3. ELIGIBILITY AND PARTICIPATION 
 3.1 Eligibility Key Employees of the Company and its subsidiaries are eligible to receive Restricted Stock under the RSP, in such amounts and on as
many occasions as the Committee in its sole discretion may determine. Eligible Directors shall receive Restricted Stock under the RSP in accordance with the provisions of Section 6.1(b). 
 3.2 Participation The Committee shall designate the Key Employees to receive Restricted Stock, the time or times and the size and terms of each
individual grant of Restricted Stock under the RSP. Eligible Directors are automatically entitled to receive Restricted Stock at the times and in the amounts in accordance with the provisions set forth in Section 6.1(b). 
 SECTION 4. STOCK SUBJECT TO THE RSP 
 4.1
Number The total number of shares of Restricted Stock that may be granted under the RSP shall not exceed 1,500,000. These shares may consist, in whole or in part, of authorized but unissued shares of stock or shares of stock reacquired by the
Company and not reserved for any other purpose. 
 4.2 Reacquired and Withheld Shares If, at any time, shares of Restricted Stock
issued pursuant to the RSP shall have been reacquired by the Company in connection with the restrictions herein imposed on such shares, such reacquired shares again shall become available for issuance under the RSP at any time prior to its
termination. In addition until November 1, 2016, any shares of Restricted Stock withheld to pay, in whole or in part, the amount required to be withheld under applicable tax laws in accordance with Section 6.12 hereof, shall become
available for issuance under the RSP at any time prior to its termination. 
 4.3 Adjustment upon Change in Stock The Committee shall
take such action with regard to adjustment of the number of shares of Restricted Stock that may be granted hereunder as it considers to be equitable in its sole and absolute discretion in the event there is any change in the outstanding Common
Stock, or any event that could cause a change in the outstanding Common Stock, including, without limitation, by reason of a stock dividend, stock split, reverse stock split, spin-off, recapitalization, reclassification, merger, consolidation,
combination, issuance of securities convertible into or exchangeable for Common Stock, exchange or conversion of shares, or any other similar type of event. The Committee’s determination of any adjustment pursuant to this Section 4.3 shall
be final, conclusive and binding. 
 SECTION 5. DURATION OF THE RSP 
 The RSP shall continue until all Restricted Stock subject to it shall have been granted and vested under the RSP, subject to the provisions of the RSP regarding amendments thereto and termination thereof. 

 

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 SECTION 6. SHARES OF RESTRICTED STOCK 
 6.1 Grant of Shares of Restricted Stock 
 (a) Awards of Restricted Stock to Participants shall be granted under a Restricted Stock Agreement between the Company and the Participant which shall provide that the shares subject to any such award shall be subject to such forfeiture and
other conditions, including the provisions of Section 6.7 hereof, as the Committee shall designate, which are consistent with the terms of this RSP. 
 (b) Awards of Restricted Stock to Eligible Directors shall automatically be granted hereunder,
without further action required, to each Eligible Director of the Company on the date of his or her initial election or appointment as a director of the Company (“Initial Grant”) and on the date of every Annual Meeting of the Stockholders
(“Annual Meeting”) commencing with the Annual Meeting scheduled for January 24, 2008 (“Subsequent Grant”). No director shall be entitled to an Initial Grant if his or her initial election or appointment to the Board occurred
on or after June 1st of the fiscal year in which he or she joined the Board. No director who has received an Initial Grant shall be entitled to
receive a Subsequent Grant during the same fiscal year of the Company, no director shall be entitled to receive more than one Subsequent Grant in any fiscal year of the Company and no director shall be entitled to more than one Initial Grant.
Initial Grants shall consist of approximately $65,000 of Restricted Stock valued by dividing $65,000 by the Fair Market Value of a share Common Stock on the date of grant and rounding to the nearest 100 shares. Subsequent Grants shall consist of
approximately $65,000 of Restricted Stock valued by dividing $65,000 by the Fair Market Value of a share of Common Stock on the date of grant and rounding to the nearest 100 shares. 
 6.2 Vesting Except as otherwise provided in Sections 7.1 and/or 6.8 hereof, Restricted Stock granted hereunder will vest on a cumulative basis in
equal annual increments of one-fourth of the shares granted, commencing on the day preceding the first anniversary of the grant of the Restricted Stock for Key Employees and the second anniversary of the grant of the Restricted Stock for Eligible
Directors. Those shares will be fully vested after a period of four (4) years from the day preceding the date of grant for Key Employees and five (5) years from the day preceding the date of grant for Eligible Directors. With respect to
Restricted Stock granted to Key Employees, the Committee, may (i) accelerate the vesting of such Restricted Stock subject to such terms and conditions as the Committee deems necessary or desirable to effectuate the purpose of the RSP or
(ii) specifically provide at the date of grant for another vesting schedule which is different than the vesting schedule set forth in the first two sentences of this Section 6.2. In addition, with respect to Restricted Stock granted to Key
Employees, the Committee may grant Restricted Stock that is immediately vested upon the date of issuance. 
 6.3 Transferability
Subject to Section 6.8 hereof, a Participant’s rights under the RSP may not be assigned and any Restricted Stock granted to a Participant may not be sold, transferred, pledged, assigned, or otherwise alienated or hypothecated as long as
the shares are subject to forfeiture or other conditions as provided in this RSP, and as set forth in the Restricted Stock Agreement pursuant to which such shares were granted. 
  

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 6.4 Removal of Restrictions Except as otherwise provided herein, or as may be required by
applicable law, shares of Restricted Stock covered by each Restricted Stock Agreement made under this RSP will become freely transferable by the Participant upon vesting in accordance with Sections 6.2, 6.8 and/or 7.1. 
 6.5 Other Restrictions The Committee may impose such other restrictions on any shares granted pursuant to this RSP as it may deem advisable,
including, without limitation, restrictions required by (1) federal securities laws, (2) requirements of any stock exchange upon which such shares of the same class are listed and (3) any state securities laws applicable to such
shares. 
 6.6 Certificates In addition to any legends placed on certificates pursuant to Section 6.5, the Company reserves the
right to place on each certificate representing shares of Restricted Stock a restrictive legend, which legend may be in the following form: 
 The sale or other transfer of shares of stock represented by this certificate, whether voluntary, involuntary, or by operation of law, is subject to the restrictions on transfer and forfeiture conditions (which include the satisfaction of
certain employment or director service requirements) set forth in the 2006 Restricted Stock Plan and Restricted Stock Agreement. A copy of such agreement may be inspected at the offices of the Secretary of the Company. 
 All certificates representing shares of Restricted Stock may be held by the Secretary of the Company in escrow on behalf of the Participant awarded such shares, together
with a Power of Attorney (if any) executed by the Participant, in the form satisfactory to the Committee and authorizing the Company to transfer such shares as provided in the Restricted Stock Agreement, until such time as all restrictions imposed
on such shares pursuant to the RSP and the Restricted Stock Agreement have expired or been earlier terminated. 
 6.7 Termination of
Employment In the event that, prior to the removal of restrictions on shares of Restricted Stock as contemplated by Section 6.4, a Participant’s employment or directorship with the Company terminates for any reason other than death,
Retirement, Disability, or a Change in Control, any shares subject to time period restrictions or other forfeiture conditions at the date of such termination shall automatically be forfeited to the Company. A Participant shall not forfeit any rights
to Restricted Stock previously granted to him or her, solely because he or she ceases to qualify as a Key Employee. 
 6.8 Death,
Retirement or Disability 
 (a) In the event that, prior to the removal of restrictions on shares of Restricted Stock as contemplated by
Section 6.4, a Participant’s employment or directorship with the Company terminates because of death or Disability, any uncompleted portion of a time period restriction or other forfeiture conditions, as set forth herein or in the terms of
the Restricted Stock Agreement, shall be waived and all such Restricted Stock shall immediately vest. The shares released from such restrictions pursuant to this Section 6.8 thereafter shall be freely transferable by the Participant or by the
person set forth in Section 6.8 (c) and (d) in the case of the Participant’s death, subject to any applicable legal requirements. 
  

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 (b) In the event that, prior to the removal of restrictions on shares of Restricted Stock as contemplated
by Section 6.4, a Participant’s employment or directorship with the Company terminates because of Retirement, any uncompleted portion of a time period restriction or other forfeiture conditions, as set forth herein or in the terms of the
Restricted Stock Agreement, shall be waived and all such Restricted Stock shall immediately vest. The shares released from such restrictions pursuant to this Section 6.8 thereafter shall be freely transferable by the Participant, subject to any
applicable legal requirements. 
 (c) A Participant may from time to time name in writing any person or persons to whom his or her Restricted
Stock should be given if the Participant dies. Each such beneficiary designation will revoke all prior designations by the Participant with respect to the RSP, shall not require the consent of any previously named beneficiary, and will be effective
only when filed with the Secretary of the Company during the Participant’s lifetime. 
 (d) If a Participant fails to designate a
beneficiary before his or her death, as provided above, or if the beneficiary designated by the Participant dies prior to receiving the Restricted Stock hereunder, the Company shall transfer the Restricted Stock to the surviving spouse of the
Participant, or in the event there is no such surviving spouse, to the estate of the Participant. 
 6.9 Voting Rights Participants
shall have full voting rights with respect to shares of Restricted Stock. 
 6.10 Dividend Rights Participants shall have full
dividend rights (subject to applicable withholding tax requirements) with any such dividends being paid currently. Dividends paid to Key Employees on shares of Restricted Stock prior to the shares vesting will be treated as wages for federal income
tax purposes and will be subject to withholding taxes by the Company. Dividends paid to Eligible Directors on shares of Restricted Stock prior to the shares vesting will be treated as compensation for services for federal income tax purposes. If all
or part of a dividend is paid in shares of stock, the dividend shares shall be subject to the same restrictions on transferability as the shares of Restricted Stock that are the basis for the dividend. 
 6.11 Security Interest in Shares In connection with the execution of any Restricted Stock Agreement, the Committee may require that a Participant
grant to the Company a security interest in the shares of Restricted Stock issued or granted pursuant to this RSP to secure the payment of any sums (e.g.: income withholding taxes due when restrictions lapse) then owing or thereafter coming
due to the Company by such Participant. This security interest shall continue for such period of time as the certificates representing shares of Restricted Stock are held by the Secretary of the Company in escrow on behalf of the Participant
pursuant to Section 6.6. 
 6.12 Withholding Taxes Due At any time when a Participant is required to pay to the Company an amount
required to be withheld under applicable tax laws in connection with the vesting of 

  

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Restricted Stock or reaching Retirement age (calculated by taking the minimum statutory withholding rates for federal, foreign, state and local tax purposes
including payroll taxes, applicable to the income generated by the vesting of such Restricted Stock), the Participant may satisfy this obligation in whole or in part by making an election to have the Company withhold shares of Restricted Stock
having a value equal to the amount required to be withheld. The value of shares to be withheld shall be based on the Fair Market Value of the Restricted Stock on the date the Participant vests in such shares or reaches Retirement age. 
 SECTION 7. CHANGE IN CONTROL 
 7.1 Vesting Upon
Change in Control Notwithstanding any provision of the RSP, all outstanding shares of Restricted Stock shall immediately become fully vested upon the occurrence of a Change in Control. 
 7.2 Definitions 
 (a) The term
“Change in Control” means: 
 (1) the occurrence of any one or more of the following events: 
 (A) The acquisition by any individual, entity or group (a “Person”), including any “person” within the meaning of
Section 13(d)(3) or 14(d)(2) of the Exchange Act, of beneficial ownership within the meaning of Rule 13d-3 promulgated under the Exchange Act of both (x) 20% or more of the combined voting power of the then outstanding securities of the
Company entitled to vote generally in the election of directors (the “Outstanding Company Voting Securities”) and (y) combined voting power of Outstanding Company Voting Securities in excess of the combined voting power of the
Outstanding Company Voting Securities held by the Exempt Persons (as such term is defined in Section 7.2(b)); provided, however, that a Change in Control shall not result from an acquisition of Company Voting Securities:

 (i) directly from the Company, except as otherwise provided in Section 7.2(a)(2)(A); 
 (ii) by the Company, except as otherwise provided in Section 7.2(a)(2)(B); 
 (iii) by an Exempt Person; 
 (iv) by an employee benefit plan (or related trust) sponsored or maintained by the Company or any corporation controlled by the Company; or 
 (v) by any corporation pursuant to a reorganization, merger or 

  

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consolidation involving the Company, if, immediately after such reorganization, merger or consolidation, each of the conditions described in clauses
(i) and (ii) of Section 7.2(a)(1)(C) shall be satisfied. 
 (B) The cessation for any reason of the members of
the Incumbent Board (as such term is defined below) to constitute at least a majority of the Board. 
 (C) Consummation of a
reorganization, merger or consolidation unless, in any such case, immediately after such reorganization, merger or consolidation: 
 (i) more than 60% of the combined voting power of the then outstanding securities of the corporation resulting from such reorganization, merger or consolidation entitled to vote generally in the election of directors is then beneficially
owned, directly or indirectly, by all or substantially all of the individuals or entities who were the beneficial owners of the combined voting power of all of the Outstanding Company Voting Securities immediately prior to such reorganization,
merger or consolidation; and 
 (ii) at least a majority of the members of the board of directors of the corporation
resulting from such reorganization, merger or consolidation were members of the Incumbent Board at the time of the execution of the initial agreement or action of the Board providing for such reorganization, merger or consolidation. 
 (D) Consummation of the sale or other disposition of all or substantially all of the assets of the Company other than (x) pursuant to
a tax-free spin-off of a subsidiary or other business unit of the Company or (y) to a corporation with respect to which, immediately after such sale or other disposition: 
 (i) more than 60% of the combined voting power of the then outstanding securities thereof entitled to vote generally in the election of
directors is then beneficially owned, directly or indirectly, by all or substantially all of the individuals and entities who were the beneficial owners of the combined voting power of all of the Outstanding Company Voting Securities immediately
prior to such sale or other disposition; and 
 (ii) at least a majority of the members of the board of directors thereof
were members of the Incumbent Board at the time of the execution of the initial agreement or action of the Board providing for such sale or other disposition. 
  

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 (E) Approval by the stockholders of the Company of a plan of complete liquidation or
dissolution of the Company. 
 (2) Notwithstanding the provisions of Section 7.2(a)(1): 
 (A) no acquisition of Company Voting Securities shall be subject to the exception from the definition of Change in Control contained in
clause (i) of Section 7.2(a)(1)(A) if such acquisition results from the exercise of an exercise, conversion or exchange privilege unless the security being so exercised, converted or exchanged was acquired directly from the Company; and

 (B) for purposes of clause (ii) of Section 7.2(a)(1)(A), if any Person (other than the Company, an Exempt Person
or any employee benefit plan (or related trust) sponsored or maintained by the Company or any corporation controlled by the Company) shall, by reason of an acquisition of Company Voting Securities by the Company, become the beneficial owner of
(x) 20% or more of the combined voting power of the Outstanding Company Voting Securities and (y) combined voting power of Outstanding Company Voting Securities in excess of the combined voting power of the Outstanding Company Voting
Securities held by the Exempt Persons, and such Person shall, after such acquisition of Company Voting Securities by the Company, become the beneficial owner of any additional Outstanding Company Voting Securities and such beneficial ownership is
publicly announced, such additional beneficial ownership shall constitute a Change in Control. 
 (b) The term “Exempt Person” (and
collectively, the “Exempt Persons”) means: 
 (1) Leonard H. Lavin or Bernice E. Lavin; 
 (2) any descendant of Leonard H. Lavin and Bernice E. Lavin or the spouse of any such descendant; 
 (3) the estate of any of the persons described in Section 7.2(b)(1) or (2); 
 (4) any trust or similar arrangement for the benefit of any person described in Section 7.2(b)(1) or (2); or 
 (5) the Lavin Family Foundation or any other charitable organization established by any person described in Section 7.2(b)(1) or (2).

  

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 (c) The term “Incumbent Board” means those individuals who, as of January 1, 2007,
constitute the Board, provided that: 
 (1) any individual who becomes a director of the Company subsequent to such
date whose election, or nomination for election by the Company’s stockholders, was approved either by the vote of at least a majority of the directors then comprising the Incumbent Board or by the vote of at least a majority of the combined
voting power of the Outstanding Company Voting Securities held by the Exempt Persons shall be deemed to have been a member of the Incumbent Board; and 
 (2) no individual who was initially elected as a director of the Company as a result of an actual or threatened solicitation by a Person other than the Board or the Exempt Persons for the purpose of opposing a
solicitation by any other Person with respect to the election or removal of directors, or any other actual or threatened solicitation of proxies or consents by or on behalf of any Person other than the Board or the Exempt Persons shall be deemed to
have been a member of the Incumbent Board. 
 SECTION 8. NO EMPLOYMENT AND RETENTION RIGHTS OF PARTICIPANTS 
 Nothing in this RSP or in any grant of Restricted Stock shall interfere with or limit in any way the right of the Company to terminate any Key
Employee’s or Participant’s employment at any time, or confer upon any Key Employee or Participant any right to continue in the employ of the Company or its subsidiaries. Establishment of, or participation in, the RSP shall not be
construed to give any Eligible Director the right to be retained as a member of the Board. 
 SECTION 9. STOCKHOLDER APPROVAL, AMENDMENT AND TERMINATION

 9.1 Amendment This RSP may be amended at any time by the Committee or the Board; provided that no such amendment shall permit
the granting of Restricted Stock to anyone other than as provided in Section 3 hereof, or increase the maximum number of shares of stock that may be granted pursuant to this RSP except pursuant to Section 4.3 hereof, without the further
approval of the Company’s stockholders. In addition, the approval of the Board is required to amend Section 6.1(b). 
 9.2
Termination The Company reserves the right to terminate the RSP at any time by action of the Committee or the Board. 
 9.3 Existing
Restrictions Neither amendment nor termination of this RSP shall adversely affect any shares previously granted or issued pursuant to this RSP. 
 9.4 Stockholder Adoption The RSP was approved by the stockholders of the Company on November 13, 2006 and became effective on November 16, 2006. 
  

 10Deferred Compensation Plan for Non-Employee Directors

 EXHIBIT 10 (m) 
 ALBERTO-CULVER COMPANY 
 DEFERRED COMPENSATION PLAN FOR NON-EMPLOYEE DIRECTORS 
 (as amended through October 23, 2008) 
 1.
Purpose. The principal purposes of the Deferred Compensation Plan for Non-Employee Directors (“Plan”) are to (i) benefit Alberto-Culver Company (“Company”) and its subsidiaries by offering its non-employee
directors an opportunity to become holders of common stock, par value $.01 per share (“Common Stock”), in order to enable them to represent the viewpoint of other stockholders of the Company more effectively and (ii) permit
non-employee directors to defer all or a portion of the fees that they receive as directors of the Company in the investments listed from time to time on Annex A hereto (the “Investments”). At the time of approval by the stockholders of
the Company, the name of the Company was New Aristotle Holdings, Inc. Following the time of approval, the name of the Company will be changed to Alberto-Culver Company. 
 At the time of approval of the Plan by the stockholders of the Company, a plan with the same name was maintained by Alberto-Culver Company, as then constituted (EIN: 36-2257936) (the “Prior Plan”). As of the
Effective Date, as defined in Section 8(c), (i) all amounts that were deferred or became vested under the Prior Plan on or after January 1, 2005 with respect to current or former directors of the Company shall be credited to
Participant accounts and be paid pursuant to the terms of this Plan, and (ii) all amounts that were deferred or became vested prior to January 1, 2005 with respect to current or former directors of the Company shall continue to be governed
by the Prior Plan. 
 2. Plan Participants. Each director who is not an officer or employee of the Company or any of its subsidiaries shall be
a participant under the Plan (“Participant”). 
 3. Administration. The Plan shall be administered by the Board of Directors of the
Company (“Board”). The Board shall have full power to construe, administer and interpret the Plan. The Board’s decisions are final and binding on all parties. All fees and expenses incurred by the Plan in connection with its
administration shall be paid by the Company, except for investment management and other fees charged by advisors for managing the Investments. 
 4.
Director Fee Elections.  
 (a) Each Participant shall make one of the following elections in accordance with Section 4(b)
and/or 4(c) with respect to his or her annual retainer and meeting fees (collectively, “Director Fees”): 
 (i) The Participant may
elect to have the Director Fees paid to him or her in cash. Director Fees payable with respect to meetings will be paid as soon as reasonably practicable on or after the date of each such meeting and the annual retainer shall be paid in equal
installments on a quarterly basis; or 

 (ii) Each Participant may elect to defer receipt of all of the Director Fees in an account (the
“Deferred Account”) until (a) one month after the date on which his or her service on the Board terminates for any reason (or, if later, the date that the Director has incurred a separation from service as defined in Section 409A
of the Internal Revenue Code of 1986 (the “Code”) or (b) any specific date selected by the Participant. Participants may also elect to receive one lump sum payment or substantially equal annual installments (which may fluctuate during
this period depending on the performance of the Investments in the Deferred Account), not to exceed five installments, of all amounts deferred. In the absence of an election to the contrary, in whole or in part, deferred amounts will be paid in a
single lump sum one month after the date on which the Participant’s service on the Board terminates for any reason. Amounts deferred pursuant to this Section 4(a)(ii) will be deferred on a quarterly basis by taking the cash value of all
Director Fees payable during the quarterly periods ending on the last day of January, April, July and October. Such amounts will be invested in one or more of the Investments pursuant to an investment form (“Investment Form”). 

(iii) The Participant may elect to receive a distribution of the number of shares of Common Stock equal to the cash value of all Director Fees payable
during the quarterly periods ending on the last day of March, June, September, and December, divided by the Fair Market Value of a share of Common Stock on the last trading day of each such quarterly period. Each distribution shall be evidenced by a
certificate representing the applicable number of shares of Common Stock, registered in the name of the Participant, and distributed to the Participant on or as soon as reasonably practicable after each quarterly date noted in the preceding
sentence. Such quarterly distributions of Common Stock will be made only in whole-share increments. The cash value of any fractional share, based upon the Fair Market Value for the applicable quarterly period as calculated above, shall be paid to
the Participant in cash at the time of the Common Stock distribution. 
 (b) Except as otherwise provided in this paragraph or
Section 4(c), on or before the end of each calendar year, each Participant shall complete a form specifying the elections described above with respect to Director Fees (“Election Form”) and deliver the Election Form to the General
Counsel of the Company (“General Counsel”); provided, however, that deferrals under this Plan for Director Fees earned in 2006 shall be governed by deferral elections made for 2006 under the Prior Plan. 
 A Participant’s elections shall be in increments of 25% with respect to the elections available in Section 4(a) above. Amounts deferred
pursuant to Section 4(a)(ii) above may be allocated pursuant to an Investment Form to specific Investments in whole increments of 1% where the amount deferred pursuant to Section 4(a)(ii) rather than the Director Fees paid shall be
considered 100% for purposes of this allocation. 
 An Election Form shall remain in effect for subsequent calendar years until a subsequent
Election Form is delivered to the General Counsel before the first day of the calendar year in which the new Election Form is to become effective. Except as provided in Section 4(c), an initial Election Form or a subsequent Election Form shall
only apply to those Director Fees payable to a Participant with respect to services rendered after the end of the calendar year in which such initial or subsequent Election Form is delivered to the General Counsel. Except as provided in the first

  

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sentence of Section 6, any Election Form delivered by a Participant shall be irrevocable with respect to any Director Fee covered by the elections set
forth therein (but may be amended by a subsequent Election Form applicable to those Director Fees payable to a Participant with respect to services rendered after the end of the calendar year in which such form was delivered to the General Counsel).
If an Election Form is not in effect for a Participant for a calendar year (e.g., the Participant has not completed an initial Election Form), he or she shall be deemed to have elected the option specified in this Section 4(a)(i) until a
completed Election Form has been delivered to the General Counsel and has become effective. 
 (c) Notwithstanding the preceding provisions
of this Section 4, an election made by a Participant in the calendar year in which he or she first becomes eligible to participate in the Plan may be made pursuant to an Election Form delivered to the General Counsel within 30 days after the
date on which he or she initially becomes eligible to participate, and such Election Form shall be effective on the first day of the first quarterly period commencing January 1, April 1, July 1, or October 1, as
applicable, following the date such Election Form is delivered to the General Counsel. 
 5. Participant Accounts.  
 (a) Director Fees deferred pursuant to Section 4(a)(ii) shall be credited to the Participant’s Deferred Account within two business days of
receipt by the trustee of the Trust, as defined below (the “Trustee”). Dividends paid on the Common Stock Fund portion of the Deferred Account (the “Common Stock Fund”) pursuant to Section 4(a)(ii) shall be credited to the
Guaranteed Income Fund. In the event that the Company determines not to have the Trustee purchase Common Stock in the open market, units in the Common Stock Fund shall be credited to the Participant’s Deferred Account on the fifth trading day
immediately following the end of the applicable blackout period (as determined in accordance with Company policy) at the Fair Market Value of a share of Common Stock on that trading day. Notwithstanding anything to the contrary contained herein, on
the first business day following the closing of the transactions contemplated by the Investment Agreement dated as of June 19, 2006 among the Company, New Aristotle Company, Sally Holdings, Inc., New Sally Holdings, Inc. and CDRS Acquisition
LLC (the “Investment Agreement”), each unit in the Common Stock Fund on that date shall represent one share of New Aristotle Holdings, Inc. In addition, an amount equal to (i) the number of units in the Common Stock Fund on that date
multiplied by the Fair Market Value of a share of common stock of New Sally Holdings, Inc. on that date plus (ii) the number of units in the Common Stock Fund on that date multiplied by $25, shall be credited to the Guaranteed Income Fund.

 (b) Deferred Accounts pursuant to Section 4(a)(ii) shall be held in a Rabbi Trust (the “Trust”) by the Trustee. The Company
shall be the beneficiary of the Trust, which in the Company’s discretion, may contain the actual Investments. The Trust will be subject to the terms of a trust agreement between the Company and the Trustee. Participants may elect to transfer
between the Investments only during the ten business days of each quarterly period beginning on the third business day of February, May, August and November. All transactions involving the transfer into or out of the Common Stock Fund must be
approved in advance by either the Executive Chairman, CEO or CFO plus the General Counsel. Transfers into and out of Investments may only be done in 

  

 3 

 
whole increments of 1%. Transfers out of Common Stock may not be executed by selling shares to the public. In no event shall any amount be deposited into any
trust, or otherwise set aside in an arrangement designated by the Internal Revenue Service, for the payment of benefits to any Participant during any “restricted period” as defined in Section 409A(b)(3) of the Code, as amended by
Section 116 of the Pension Protection Act of 2006. 
 6. Distributions. 
 (a) Subject to Sections 6(b) and 6(c), the portions of a Participant’s Deferred Account that represent amounts deferred for each Plan Year (and the
earnings thereon) shall be paid on the date(s) specified in the Participant’s Election Forms made pursuant to Section 4. A Participant may change this election for any Plan Year provided that any such change shall be irrevocably made at
least one year prior to the scheduled payment date (and shall be void if the payment date occurs within one year after the change is made), shall defer the scheduled payment date by at least five years, and shall otherwise comply with
Section 409A of the Code. For purposes of Section 409A of the Code, all installment payments shall be treated as a single payment. Except for the Common Stock Fund which will be payable in shares or cash at the option of the Participant,
all amounts in the Deferred Account shall be payable in cash on the dates specified in Section 4. The election to take the balance deferred in the Common Stock Fund in cash or Common Stock may be made at any time by the Participant (or in the
event of the Participant’s death, the appropriate person determined in accordance with Section 6(b)) before the date of such scheduled distribution. In the absence of a valid election, amounts deferred in the Common Stock Fund shall be
paid in Common Stock and cash for any fractional shares. 
 (b) If a Participant’s service on the Board shall terminate by reason of his
or her death, or if he or she shall die after becoming entitled to a distribution hereunder, but prior to receipt of his or her entire distribution, all Investments in such Participant’s Deferred Account, except the Common Stock Fund which may
be distributed in Common Stock or cash at the election of the Participant’s designated beneficiary, spouse or estate, as described below, shall be distributed in cash as soon as reasonably practicable to such beneficiary or beneficiaries as
such Participant shall have designated by an instrument in writing last filed with the General Counsel prior to his or her death, or in the absence of such designation of any living beneficiary, to his or her spouse, or if not then living, to his or
her estate. 
 (c) Notwithstanding any other provisions of the Plan, (i) the entire balance of each Participant’s Deferred Account
(other than the Common Stock Fund) shall be distributed to such Participant as soon as reasonably practicable after the date of the occurrence of a Change in Control in the form of a single lump sum cash payment and (ii) shares of Common Stock
and cash for any fractional shares equal to the entire number of shares of Common Stock contained in each Participant’s Common Stock Fund shall be distributed as soon as reasonably practicable after the occurrence of the Change in Control. The
cash value of any Director Fees earned but not yet invested or paid pursuant to Section 4(a), as of the date of a Change in Control, shall be paid to the Participant in the form of a single lump sum payment as soon as reasonably practicable
after the occurrence of a Change in Control. For purposes of this Section 6(c), the definition of a Change in Control shall be as defined by Section 409A of the Code. 
  

 4 

 7. Amendment, Suspension or Termination. The Board may, at any time and from time to time, suspend
or terminate the Plan, in whole or in part, or amend the Plan in such respects as the Board may deem proper and in the best interest of the Company or as may be advisable, provided, however, that no suspension, termination or amendment shall be made
which would (i) directly or indirectly deprive any current or former Participant or his or her beneficiaries of all or any portion of his or her Deferred Account as determined as of the effective date of such amendment, suspension or
termination, (ii) directly or indirectly reduce the balance of any Deferred Account held hereunder as of the effective date of such amendment, suspension or termination or (iii) except as permitted by Section 409A of the Code, change
the timing of any distributions under the Plan. In addition, Annex A may be amended with the concurrence of both the Chief Executive Officer and the Chief Financial Officer of the Company, provided that such officers may not eliminate the Common
Stock Fund, which can only be done by action of the Board. No additional deferred Director Fees shall be credited to the Deferred Accounts of Participants after termination of the Plan. 
 8. General Provisions. 
 (a) No Participant shall have any right, title, or interest in
any assets, accounts or funds that the Company may establish to aid in providing benefits under the Plan or otherwise. The Plan does not create or establish any fiduciary relationships between the Company and the Participant or his or her
beneficiary under the Plan, nor will any interest other than that of an unsecured creditor exist. 
 (b) For all purposes of the Plan, the
Fair Market Value of a share of common stock as of a given date shall be the average of the high and low transaction prices of a share of common stock as reported in the New York Stock Exchange Composite Transactions on such date, or if there shall
be no reported transaction for such date, then on the next preceding date for which trades were reported. 
 (c) The Plan was approved by
stockholders of the Company on November 13, 2006 and became effective on November 16, 2006 (“Effective Date”). 
 (d)
Nothing contained in the Plan shall constitute a guaranty by the Company or any other person or entity, that the assets of the Company will be sufficient to pay any benefit hereunder. No Participant or beneficiary shall have any right to receive a
distribution under the Plan, except in accordance with the terms of the Plan. 
 (e) Establishment of, or participation in, the Plan shall
not be construed to give any Participant the right to be retained as a member of the Board. 
 (f) Neither a Participant nor any other person
shall have any right to commute, sell, assign, transfer, pledge, anticipate, mortgage or otherwise encumber, hypothecate or convey in advance of actual receipt the amounts, if any, payable hereunder, or any part thereof, which are, and all rights to
which are, expressly declared to be nonassignable and nontransferable. No part of the amounts payable shall, prior to actual payment, be subject to garnishment, seizure or sequestration for the payment of any debts owed by a Participant or any other
person, nor be transferable by operation of law in the event of a Participant’s or any other person’s bankruptcy or insolvency. 
  

 5 

 (g) The Board, General Counsel, employees, officers and directors of the Company shall not be held liable
for, and shall be indemnified and held harmless by the Company against, any loss, expense or liability relating to the Plan which arises from any action or determination made in good faith. 
 (h) The Company shall withhold from any deferred or nondeferred Director Fee, or any distributions made pursuant to the Plan, any amounts required by
applicable federal, state and local tax laws and regulations thereunder to be withheld. 
 (i) If any provision of this Plan shall be held
illegal or invalid for any reason, such illegality or invalidity shall not affect the remaining parts hereof, but this Plan shall be construed and enforced as if such illegal or invalid provision had never been inserted herein. 
 (j) Any notice under the Plan shall be in writing and shall be personally delivered, mailed postage paid as first class U.S. Mail or sent by reliable
overnight courier. Notices shall be deemed given when actually received by the recipient. Notices shall be directed to the Company at its offices at 2525 Armitage Avenue, Melrose Park, Illinois 60160-1163, Attention: General Counsel; to a
Participant at the address stated in his or her Election Form; and to a beneficiary entitled to benefits at the address stated in the Participant’s beneficiary designation, or to such other addresses any party may specify by notice to the other
parties. 
 (k) This Plan shall be governed by and construed in accordance with the laws of the State of Illinois, without regard to its
conflict of laws principles. 
  

 6 

 Annex A 
 Alberto-Culver Company Deferred Compensation Plan 
 for Non-Employee Directors 
 Investment Fund Choices 
  

					
	 Asset Class
	  	 Style
	  	 Investment Fund Name

	 Stable Value
	  	Stable Value	  	Guaranteed Income Fund
			
	 Balanced
	  	Moderate Allocation	  	GAMCO Westwood Balanced Fund
			
	 Large
	  	Blend	  	Dryden Stock Index Fund
	  	Value	  	American Century Equity Income Fund
	  	Value	  	Fidelity Advisor Equity Income Fund
	  	Growth	  	American Century Ultra Fund
			
	 Mid Cap
	  	Growth	  	Artisan Mid Cap Fund
			
	 Small Cap
	  	Value	  	Royce Total Return Fund
			
		  	Growth	  	Managers AMG TimesSquare Fund Small Cap Growth (1)
			
	 Foreign Large Cap
	  	Growth	  	American Century International Growth Fund
			
	 Company Stock
	  	Hybrid	  	Alberto-Culver Company Stock

  

	(1)	Fund closed. No longer available as investment. 

  

 7

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