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                                                                Exhibit 10.29.11

                AMENDED AND RESTATED SENIOR MANAGEMENT AGREEMENT

     THIS AMENDED AND RESTATED SENIOR MANAGEMENT AGREEMENT (this "AGREEMENT") is
made as of January 28, 2005, by and among Prestige International Holdings, LLC,
a Delaware limited liability company ("HOLDINGS LLC"), Prestige Brands Holdings,
Inc., a Delaware corporation (the "COMPANY"), Prestige Brands, Inc., a Delaware
corporation ("EMPLOYER"), and Eric M. Millar ("EXECUTIVE"). Certain provisions
of this Agreement are intended for the benefit of and will be enforceable by the
Purchasers.

     This Agreement amends and restates the Senior Management Agreement (as
amended prior to the date hereof, the "PRIOR AGREEMENT"), dated as of March 17,
2004, by and among Holdings LLC, Employer and Executive. The Company, Holdings
LLC, Employer and Executive desire to amend and restate the Prior Agreement in
connection with the transactions (the "EXCHANGE TRANSACTIONS") contemplated by
the Exchange Agreement (the "EXCHANGE AGREEMENT"), dated as of the date hereof,
among Holdings LLC, the Company and the Unitholders of Holdings LLC, which are
being consummated in order to facilitate an initial public offering (the
"INITIAL PUBLIC OFFERING") of the Company's common stock, par value $.01 per
share (the "COMMON SHARES").

     Holdings LLC and Executive entered into the Prior Agreement pursuant to
which Executive purchased from Holdings LLC, and Holdings LLC sold to Executive,
197,615 Common Units of the Company (the "COMMON UNITS"). Certain definitions
are set forth in SECTION 10 of this Agreement.

     NOW, THEREFORE, in consideration of the mutual covenants contained herein
and other good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, (i) the parties to the Prior Agreement hereby amend and
restate the Prior Agreement, effective upon consummation of the Exchange
Transactions (the "EFFECTIVE DATE"), and (ii) the parties to this Agreement
hereby agree as follows:

                   PROVISIONS RELATING TO EXECUTIVE SECURITIES

     1.   ACQUISITION OF CARRIED SHARES.

          (a) Upon consummation of the Exchange Transactions, Executive will
     acquire _______ Common Shares in exchange for the ________ Common Units
     acquired by Executive pursuant to the Prior Agreement. The Common Shares so
     acquired by Executive and described in this SECTION 1(a) are sometimes
     referred to herein as "CARRIED SHARES." The Company will deliver to
     Executive copies of the certificates representing such Common Shares. In
     exchange, Executive hereby authorizes Holdings LLC and the Company to
     cancel the certificate or certificates representing the Common Units.

          (b) Within 30 days after the acquisition of the Carried Shares,
     Executive will make an effective election with the Internal Revenue Service
     under

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     Section 83(b) of the Internal Revenue Code and the regulations promulgated
     thereunder in the form of EXHIBIT A attached hereto.

          (c) Until released upon the occurrence of a Sale of the Company or a
     Public Offering as provided below, all certificates evidencing the Carried
     Shares shall be held by the Company for the benefit of Executive and the
     other holder(s) of Carried Shares, if any. Upon the occurrence of a Sale of
     the Company, the Company will return all certificates evidencing Carried
     Shares to the record holders thereof. Upon consummation of a Public
     Offering, the Company will return to the record holders thereof
     certificates evidencing Vested Shares (as defined in SECTION 2(f) below).

          (d) Executive acknowledges and agrees that neither the issuance of the
     Carried Shares to Executive pursuant to the Exchange Agreement nor any
     provision contained herein shall entitle Executive to remain in the
     employment of the Company, Employer or any of their respective Subsidiaries
     or affect the right of the Company or Employer to terminate Executive's
     employment at any time for any reason, subject to the remaining terms of
     this Agreement and any other agreement between Executive and any such
     parties.

     2.   VESTING OF CARRIED SHARES.

          (a) The Carried Shares issued to Executive in respect of Common Units
     shall be subject to vesting in the manner specified in this SECTION 2.

          (b) The Carried Shares issued to Executive in respect of Common Units
     that have vested pursuant to the Prior Agreement shall be vested when
     issued to Executive pursuant to the Exchange Agreement and, except as
     otherwise provided in this SECTION 2, the remaining Carried Shares shall
     become vested in accordance with the following schedule, if and only if as
     of each such date provided below, Executive has been continuously employed
     by the Company, Employer or any of their respective Subsidiaries from the
     Effective Date through and including such date:

<Table>
<Caption>
                                                 CUMULATIVE PERCENTAGE OF
                  DATE                          ALL CARRIED SHARES VESTED
     -------------------------------     ---------------------------------------
     <S>                                                  <C>
     March 17, 2005                                        20.00%
     March 17, 2006                                        40.00%
     March 17, 2007                                        60.00%
     March 17, 2008                                        80.00%
     March 17, 2009                                       100.00%
</Table>

          (c) Notwithstanding anything in SECTION 2(b) above to the contrary, in
     the event that the Company consummates the Initial Public Offering, an
     additional 20.0% of the Carried Shares (representing 12 months of
     additional vesting) shall vest upon consummation of the Initial Public
     Offering and the remaining unvested Carried Shares shall vest on a
     straightline pro rata basis through March 17, 2009.

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          (d) If Executive ceases to be employed by the Company, Employer and
     their respective Subsidiaries on any date other than an anniversary date
     specified in the schedule above, the cumulative percentage of Carried
     Shares to become vested shall be determined on a PRO RATA basis according
     to the number of days elapsed since the Effective Date, or the most recent
     anniversary date, as the case may be.

          (e) Upon the occurrence of a Sale of the Company, all Carried Shares
     which have not yet become vested shall become vested at the time of the
     consummation of the Sale of the Company, if, as of such time, Executive has
     been continuously employed by the Company, Employer or any of their
     respective Subsidiaries from the Effective Date through and including such
     date.

          (f) Carried Shares that have become vested are referred to herein as
     "VESTED SHARES." All Carried Shares that have not vested are referred to
     herein as "UNVESTED SHARES."

     3.   REPURCHASE OPTION.

          (a) Subject to the terms and conditions set forth in this SECTION 3(a)
     and SECTION 4 below, the Company will have the right to repurchase (the
     "SEPARATION REPURCHASE OPTION") from Executive and his transferees (other
     than the Company) all or any portion of the Unvested Shares, in the event
     Executive ceases to be employed by the Company, Employer and their
     respective Subsidiaries for any reason (a "SEPARATION REPURCHASE EVENT").
     The Company may assign its repurchase rights set forth in this SECTION 3(a)
     to any Person.

          (b) For any Separation Repurchase Option, the purchase price for each
     Unvested Share will be the lesser of (i) Executive's Original Cost of the
     Common Unit(s) or portion thereof in respect of which such Unvested Share
     was issued to Executive and (ii) the Fair Market Value of such Unvested
     Share as of the date upon which the Separation Repurchase Notice is
     delivered.

          (c) The Company (with the approval of the Board) may elect to purchase
     all or any portion of the Unvested Shares by delivering written notice (the
     "SEPARATION REPURCHASE NOTICE") to the holder or holders of such securities
     within ninety (90) days after the Separation Repurchase Event. The
     Separation Repurchase Notice will set forth the number of Unvested Shares
     to be acquired from each holder, the aggregate consideration to be paid for
     such shares and the time and place for the closing of the transaction. The
     number of Unvested Shares to be repurchased by the Company shall first be
     satisfied to the extent possible from the Unvested Shares held by Executive
     at the time of delivery of the Separation Repurchase Notice. If the number
     of Unvested Shares then held by Executive is less than the total number of
     Unvested Shares that the Company has elected to purchase, the Company shall
     purchase the remaining Unvested Shares elected to be purchased from the
     Permitted Transferee(s) of Unvested Shares under this Agreement, PRO RATA
     according to the number of Unvested Shares held

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     by such Permitted Transferee(s) at the time of delivery of such Separation
     Repurchase Notice (determined as nearly as practicable to the nearest
     unit). The number of Unvested Shares to be repurchased hereunder will be
     allocated among Executive and the Permitted Transferee(s) of Unvested
     Shares (if any) PRO RATA according to the number of Unvested Shares to be
     purchased from such Person.

          (d) The closing of the purchase of the Unvested Shares pursuant to the
     Separation Repurchase Option shall take place on the date designated by the
     Company in the Separation Repurchase Notice, which date shall not be more
     than 30 days nor less than five days after the delivery of such notice. The
     Company will pay for the Unvested Shares to be purchased by it pursuant to
     the Separation Repurchase Option by first offsetting amounts outstanding
     under any bona fide debts owed by Executive to the Company and will pay the
     remainder of the purchase price by, at its option, (A) a check or wire
     transfer of funds, (B) the issuance of a subordinated promissory note of
     the Company bearing interest at a rate equal to the prime rate (as
     published in THE WALL STREET JOURNAL from time to time) and having such
     maturity as the Company shall determine in good faith, not to exceed three
     years, or (C) any combination of clauses (A) and (B) as the Board may elect
     in its discretion. The Company will be entitled to receive customary
     representations and warranties from the sellers regarding such sale and to
     require that all sellers' signatures be guaranteed.

          (e) Notwithstanding anything to the contrary contained in this
     Agreement, if the Fair Market Value of Unvested Shares is finally
     determined to be an amount at least 10% greater than the per share
     repurchase price for such Unvested Shares in the Separation Repurchase
     Notice, the Company shall have the right to revoke its exercise of the
     Separation Repurchase Option for all or any portion of the Unvested Shares
     elected to be repurchased by it by delivering notice of such revocation in
     writing to the holders of Unvested Shares during the thirty-day period
     beginning on the date that the Company is given written notice that the
     Fair Market Value of a share of Unvested Shares was finally determined to
     be an amount at least 10% greater than the per share repurchase price for
     Unvested Shares set forth in the Separation Repurchase Notice.

     4.   LIMITATIONS ON CERTAIN REPURCHASES. Notwithstanding anything to the
contrary contained in this Agreement, all repurchases of Unvested Shares by the
Company pursuant to the Separation Repurchase Option shall be subject to the
ability of the Company to pay the purchase price from its readily available cash
resources (without imposing any obligation on the Company to raise financing to
fund the repurchases) and also subject to applicable restrictions contained in
the Delaware General Corporation Law or such other governing corporate law,
applicable federal and state securities laws, and in the Company's and its
Subsidiaries' debt and equity financing agreements. If any such restrictions
prohibit (A) the repurchase of Unvested Shares hereunder which the Company is
otherwise entitled to make or (B) dividends or other transfers of funds from one
or more Subsidiaries to the Company to enable such repurchases, then the Company
may make such repurchases as soon as it is permitted to make repurchases or
receive funds from Subsidiaries under such restrictions. Furthermore, in the
event of a

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disagreement in accordance with the terms herein relating to the determination
of the Fair Market Value of any Unvested Shares, the time periods described
herein with respect to purchases of Executive Securities under SECTION 3 herein
shall be tolled until any such determination has been made in accordance with
the terms provided herein.

     5.   RESTRICTIONS ON TRANSFER OF EXECUTIVE SECURITIES.

          (a) TRANSFER OF EXECUTIVE SECURITIES. The holders of Executive
     Securities shall not Transfer any interest in any Executive Securities,
     except pursuant to (i) the provisions of SECTION 3 hereof, (ii) the
     provisions of SECTION 5(b) below or (iii) a Sale of the Company approved by
     the Board.

          (b) CERTAIN PERMITTED TRANSFERS. The restrictions in this SECTION 5
     will not apply with respect to any Transfer of (i) Executive Securities
     made pursuant to applicable laws of descent and distribution or to such
     Person's legal guardian in the case of any mental incapacity or among such
     Person's Family Group or (ii) Common Shares at such time as the Purchasers
     sell Common Shares in a Public Sale, but in the case of this clause (ii)
     only an amount of shares (the "TRANSFER AMOUNT") equal to the lesser of (A)
     the number of Vested Shares owned by Executive and (B) the result of the
     number of Common Shares owned by Executive multiplied by a fraction (the
     "TRANSFER FRACTION"), the numerator of which is the number of Common Shares
     sold by the Purchasers in such Public Sale and the denominator of which is
     the total number of Common Shares held by the Purchasers prior to the
     Public Sale; PROVIDED that, if at the time of a Public Sale of Common
     Shares by the Purchasers, Executive chooses not to Transfer the Transfer
     Amount, Executive shall retain the right to Transfer an amount of Common
     Shares at a future date equal to the lesser of (x) the number of Vested
     Shares owned by Executive at such future date and (y) the result of the
     number of Common Shares owned by Executive at such future date multiplied
     by the Transfer Fraction; PROVIDED further that the restrictions contained
     in this SECTION 5 will continue to be applicable to the Executive
     Securities after any Transfer of the type referred to in clause (i) above
     and the transferees of such Executive Securities must agree in writing to
     be bound by the provisions of this Agreement and the Registration
     Agreement. Any transferee of Executive Securities pursuant to a Transfer in
     accordance with the provisions of clause (i) of this SECTION 5(b) is herein
     referred to as a "PERMITTED TRANSFEREE." Upon the Transfer of Executive
     Securities pursuant to this SECTION 5(b), the transferring holder of
     Executive Securities will deliver a written notice (a "TRANSFER NOTICE") to
     the Company. In the case of a Transfer pursuant to clause (i) hereof, the
     Transfer Notice will disclose in reasonable detail the identity of the
     Permitted Transferee(s).

          (c) TERMINATION OF RESTRICTIONS. The restrictions set forth in this
     SECTION 5 will continue with respect to each share of Executive Securities
     until the earlier of (i) the date on which such share of Executive
     Securities has been transferred in a Public Sale permitted by this SECTION
     5, or (ii) the consummation of a Sale of the Company.

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     6.   ADDITIONAL RESTRICTIONS ON TRANSFER OF EXECUTIVE SECURITIES.

          (a) LEGEND. The certificates representing the Executive Securities
     will bear a legend in substantially the following form:

     "THE SECURITIES REPRESENTED BY THIS CERTIFICATE WERE ORIGINALLY ISSUED AS
     OF [DATE OF ISSUANCE], HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF
     1933, AS AMENDED (THE "ACT"), AND MAY NOT BE SOLD OR TRANSFERRED IN THE
     ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT UNDER THE ACT OR AN
     EXEMPTION FROM REGISTRATION THEREUNDER. THE SECURITIES REPRESENTED BY THIS
     CERTIFICATE ARE ALSO SUBJECT TO ADDITIONAL RESTRICTIONS ON TRANSFER,
     CERTAIN REPURCHASE OPTIONS AND CERTAIN OTHER AGREEMENTS SET FORTH IN AN
     AMENDED AND RESTATED SENIOR MANAGEMENT AGREEMENT BETWEEN THE COMPANY AND AN
     EXECUTIVE OF THE COMPANY AND OTHER PARTIES, DATED AS OF JANUARY 28, 2005. A
     COPY OF SUCH AGREEMENT MAY BE OBTAINED BY THE HOLDER HEREOF AT THE
     COMPANY'S PRINCIPAL PLACE OF BUSINESS WITHOUT CHARGE."

          (b) OPINION OF COUNSEL. No holder of Executive Securities may Transfer
     any Executive Securities (except pursuant to SECTION 3 or SECTION 5(b) of
     this Agreement or an effective registration statement under the Securities
     Act) without first delivering to the Company a written notice describing in
     reasonable detail the proposed Transfer, together with an opinion of
     counsel (reasonably acceptable in form and substance to the Company) that
     neither registration nor qualification under the Securities Act and
     applicable state securities laws is required in connection with such
     transfer. In addition, if the holder of the Executive Securities delivers
     to the Company an opinion of counsel that no subsequent Transfer of such
     Executive Securities shall require registration under the Securities Act,
     the Company shall promptly upon such contemplated Transfer deliver new
     certificates for such Executive Securities that do not bear the Securities
     Act portion of the legend set forth in SECTION 6(a). If the Company is not
     required to deliver new certificates for such Executive Securities not
     bearing such legend, the holder thereof shall not Transfer the same until
     the prospective transferee has confirmed to the Company in writing its
     agreement to be bound by the conditions contained in this SECTION 6.

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                        PROVISIONS RELATING TO EMPLOYMENT

     7.   EMPLOYMENT. Employer agrees to employ Executive and Executive accepts
such employment for the period beginning as of the date of the Prior Agreement
and ending upon his separation pursuant to SECTION 7(c) hereof (the "EMPLOYMENT
PERIOD").

          (a) POSITION AND DUTIES.

               (i)    During the Employment Period, Executive shall serve as the
     Senior Vice President - Operations of Employer and shall have the normal
     duties, responsibilities and authority implied by such position, subject to
     the power of the Chief Executive Officer of Employer and the Board to
     expand or limit such duties, responsibilities and authority and to override
     such actions.

               (ii)   Executive shall report to the Chief Executive Officer of
     Employer, and Executive shall devote his best efforts and his full business
     time and attention to the business and affairs of the Company, Employer and
     their Subsidiaries.

          (b) SALARY, BONUS AND BENEFITS. During the Employment Period, Employer
     will pay Executive a base salary of $205,000 per annum (the "ANNUAL BASE
     SALARY"). During fiscal year 2005, the Board shall develop a new bonus
     program which may incorporate subjective and objective criteria for bonus
     achievement different from the criteria contained in the existing
     Medtech/Denorex bonus program; PROVIDED, HOWEVER, THAT the maximum bonus
     payment potentials to Executive will not be decreased from those provided
     in the existing Medtech/Denorex bonus program. In addition, during the
     Employment Period, Executive will be entitled to such other benefits
     approved by the Board and made available to the senior management of the
     Company, Employer and their Subsidiaries, which shall include vacation time
     (in an amount consistent with past practice) and medical, dental, life and
     disability insurance. Following completion of the fiscal year ending March
     31, 2005, the Board, on a basis consistent with past practice, shall review
     the Annual Base Salary of Executive and may increase the Annual Base Salary
     by such amount as the Board, in its sole discretion, shall deem
     appropriate. The term "Annual Base Salary" as used in this Agreement shall
     refer to the Annual Base Salary as it may be so increased.

          (c) SEPARATION. The Employment Period will continue until (i)
     Executive's death, Disability or resignation from employment with the
     Company, Employer and their respective Subsidiaries or (ii) the Company,
     Employer and their respective Subsidiaries decide to terminate Executive's
     employment with or without Cause. If (A) Executive's employment is
     terminated without Cause pursuant to clause (ii) above or (B) Executive
     resigns from employment with the Company, Employer or any of their
     respective Subsidiaries for Good Reason, then during the period commencing
     on the date of termination of the Employment Period and ending on the first
     anniversary of the date of termination (the

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     "SEVERANCE PERIOD"), Employer shall pay to Executive, in equal installments
     on the Employer's regular salary payment dates, an aggregate amount equal
     to (I) his Annual Base Salary, plus (II) an amount equal to the annual
     bonus, if any, paid or payable to Executive by Employer for the last fiscal
     year ended prior to the date of termination. In addition, if Executive is
     entitled on the date of termination to coverage under the medical and
     prescription portions of the Welfare Plans, such coverage shall continue
     for Executive and Executive's covered dependents for a period ending on the
     first anniversary of the date of termination at the active employee cost
     payable by Executive with respect to those costs paid by Executive prior to
     the date of termination; PROVIDED, that this coverage will count towards
     the depletion of any continued health care coverage rights that Executive
     and Executive's dependents may have pursuant to the Consolidated Omnibus
     Budget Reconciliation Act of 1985, as amended ("COBRA"); PROVIDED further,
     that Executive's or Executive's covered dependents' rights to continued
     health care coverage pursuant to this SECTION 7(c) shall terminate at the
     time Executive or Executive's covered dependents become covered, as
     described in COBRA, under another group health plan, and shall also
     terminate as of the date Employer ceases to provide coverage to its senior
     executives generally under any such Welfare Plan. Notwithstanding the
     foregoing, (I) Executive shall not be entitled to receive any payments or
     benefits pursuant to this SECTION 7(c) unless Executive has executed and
     delivered to Employer a general release in form and substance satisfactory
     to Employer and (II) Executive shall be entitled to receive such payments
     and benefits only so long as Executive has not breached the provisions of
     SECTIONS 8 or 9 hereof. The release described in the foregoing sentence
     shall not require Executive to release any claims for any vested employee
     benefits, workers compensation benefits covered by insurance or
     self-insurance, claims to indemnification to which Executive may be
     entitled under the Company's or its Subsidiaries' certificate(s) of
     incorporation, by-laws or under any of the Company's or its Subsidiaries'
     directors or officers insurance policy(ies) or applicable law, or equity
     claims to contribution from the Company or its Subsidiaries or any other
     Person to which Executive is entitled as a matter of law in respect of any
     claim made against Executive for an alleged act or omission in Executive's
     official capacity and within the scope of Executive's duties as an officer,
     director or employee of the Company or its Subsidiaries. Not later than
     eighteen (18) months following the termination of Executive's employment,
     the Company and its Subsidiaries for which the Executive has acted in the
     capacity of a senior manager, shall sign and deliver to Executive a release
     of claims that the Company or its Subsidiaries has against Executive;
     PROVIDED THAT, such release shall not release any claims that the Company
     or its Subsidiaries commenced prior to the date of the release(s), any
     claims relating to matters actively concealed by Executive, any claims to
     contribution from Executive to which the Company or its Subsidiaries are
     entitled as a matter of law or any claims arising out of mistaken
     indemnification by the Company or any of its Subsidiaries. Except as
     otherwise provided in this SECTION 7(c) or in the Employer's employee
     benefit plans or as otherwise required by applicable law, Executive shall
     not be entitled to

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     any other salary, compensation or benefits after termination of Executive's
     employment with Employer.

     8.   CONFIDENTIAL INFORMATION.

          (a) OBLIGATION TO MAINTAIN CONFIDENTIALITY. Executive acknowledges
     that the information, observations and data (including trade secrets)
     obtained by him during the course of his performance under this Agreement
     concerning the business or affairs of the Company, Employer and their
     respective Subsidiaries and Affiliates ("CONFIDENTIAL INFORMATION") are the
     property of the Company, Employer or such Subsidiaries and Affiliates,
     including information concerning acquisition opportunities in or reasonably
     related to the Company's and Employer's business or industry of which
     Executive becomes aware during the Employment Period. Therefore, Executive
     agrees that he will not disclose to any unauthorized Person or use for his
     own account (for his commercial advantage or otherwise) any Confidential
     Information without the Board's written consent, unless and to the extent
     that the Confidential Information, (i) becomes generally known to and
     available for use by the public other than as a result of Executive's acts
     or omissions to act, (ii) was known to Executive prior to Executive's
     employment with Employer, the Company or any of their Subsidiaries and
     Affiliates or (iii) is required to be disclosed pursuant to any applicable
     law, court order or other governmental decree. Executive shall deliver to
     the Company at a Separation, or at any other time the Company may request,
     all memoranda, notes, plans, records, reports, computer tapes, printouts
     and software and other documents and data (and copies thereof) relating to
     the Confidential Information, Work Product (as defined below) or the
     business of the Company, Employer and their respective Subsidiaries and
     Affiliates (including, without limitation, all acquisition prospects, lists
     and contact information) which he may then possess or have under his
     control.

          (b) OWNERSHIP OF PROPERTY. Executive acknowledges that all
     discoveries, concepts, ideas, inventions, innovations, improvements,
     developments, methods, processes, programs, designs, analyses, drawings,
     reports, patent applications, copyrightable work and mask work (whether or
     not including any Confidential Information) and all registrations or
     applications related thereto, all other proprietary information and all
     similar or related information (whether or not patentable) that relate to
     the Company's, Employer's or any of their respective Subsidiaries' or
     Affiliates' actual or anticipated business, research and development, or
     existing or future products or services and that are conceived, developed,
     contributed to, made, or reduced to practice by Executive (either solely or
     jointly with others) while employed by the Company, Employer or any of
     their respective Subsidiaries or Affiliates (including any of the foregoing
     that constitutes any proprietary information or records) ("WORK PRODUCT")
     belong to the Company, Employer or such Subsidiary or Affiliate and
     Executive hereby assigns, and agrees to assign, all of the above Work
     Product to the Company, Employer or to such Subsidiary or Affiliate. Any
     copyrightable work prepared in whole or in part by Executive in the course
     of his work for any of the foregoing

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     entities shall be deemed a "work made for hire" under the copyright laws,
     and the Company, Employer or such Subsidiary or Affiliate shall own all
     rights therein. To the extent that any such copyrightable work is not a
     "work made for hire," Executive hereby assigns and agrees to assign to the
     Company, Employer or such Subsidiary or Affiliate all right, title, and
     interest, including without limitation, copyright in and to such
     copyrightable work. Executive shall promptly disclose such Work Product and
     copyrightable work to the Board and perform all actions reasonably
     requested by the Board (whether during or after the Employment Period) to
     establish and confirm the Company's, Employer's or such Subsidiary's or
     Affiliate's ownership (including, without limitation, assignments,
     consents, powers of attorney, and other instruments).

          (c) THIRD PARTY INFORMATION. Executive understands that the Company,
     Employer and their respective Subsidiaries and Affiliates will receive from
     third parties confidential or proprietary information ("THIRD PARTY
     INFORMATION") subject to a duty on the Company's, Employer's and their
     respective Subsidiaries' and Affiliates' part to maintain the
     confidentiality of such information and to use it only for certain limited
     purposes. During the Employment Period and thereafter, and without in any
     way limiting the provisions of SECTION 8(a) above, Executive will hold
     Third Party Information in the strictest confidence and will not disclose
     to anyone (other than personnel and consultants of the Company, Employer or
     their respective Subsidiaries and Affiliates who need to know such
     information in connection with their work for the Company, Employer or any
     of their respective Subsidiaries and Affiliates) or use, except in
     connection with his work for the Company, Employer or any of their
     respective Subsidiaries and Affiliates, Third Party Information unless
     expressly authorized by a member of the Board (other than himself if
     Executive is on the Board) in writing.

          (d) USE OF INFORMATION OF PRIOR EMPLOYERS. During the Employment
     Period and thereafter, Executive will not improperly use or disclose any
     confidential information or trade secrets, if any, of any former employers
     or any other Person to whom Executive has an obligation of confidentiality,
     and will not bring onto the premises of the Company, Employer or any of
     their respective Subsidiaries or Affiliates any unpublished documents or
     any property belonging to any former employer or any other Person to whom
     Executive has an obligation of confidentiality unless consented to in
     writing by the former employer or Person. Executive will use in the
     performance of his duties only information which is (i) generally known and
     used by persons with training and experience comparable to Executive's and
     which is (x) common knowledge in the industry or (y) otherwise legally in
     the public domain, (ii) otherwise provided or developed by the Company,
     Employer or any of their respective Subsidiaries or Affiliates or (iii) in
     the case of materials, property or information belonging to any former
     employer or other Person to whom Executive has an obligation of
     confidentiality, approved for such use in writing by such former employer
     or Person.

     9.   NONCOMPETITION AND NONSOLICITATION. Executive acknowledges that in the
course of his employment with Employer he will become familiar with the
Company's,

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Employer's and their respective Subsidiaries' trade secrets and with other
confidential information concerning the Company, Employer and such Subsidiaries
and that his services will be of special, unique and extraordinary value to the
Company, Employer and such Subsidiaries. Therefore, Executive agrees that:

          (a) NONCOMPETITION. During the Employment Period and also during the
     period commencing on the date of termination of the Employment Period and
     ending on the first anniversary of the date of termination, he shall not
     anywhere in the United States, directly or indirectly, own, manage,
     control, participate in, consult with, render services for, or in any
     manner engage in any business (i) competing with a brand of the Company,
     Employer, Medtech, Denorex, Spic and Span, Comet, Prestige, any business
     acquired by such Persons, or any Subsidiaries of such Persons, representing
     10% or more of the consolidated revenues or EBITDA of the Company and its
     Subsidiaries for the trailing 12 months ending on the last day of the last
     completed calendar month immediately preceding the date of termination of
     the Employment Period or (ii) in which the Company, Employer Medtech,
     Denorex, any business acquired by such Persons, or any Subsidiaries of such
     Persons has conducted discussions or has requested and received information
     relating to the acquisition of such business by such Person (x) within one
     year prior to the Separation and (y) during the Severance Period, if any.
     Nothing herein shall prohibit Executive from being a passive owner of not
     more than 2% of the outstanding stock of any class of a corporation that is
     publicly traded, so long as Executive has no active participation in the
     business of such corporation.

          (b) NONSOLICITATION. During the Employment Period and also during the
     period commencing on the date of termination of the Employment Period and
     ending on the first anniversary of the date of termination, Executive shall
     not directly or indirectly through another entity (i) induce or attempt to
     induce any employee of the Company, Employer or any of their respective
     Subsidiaries to leave the employ of the Company, Employer or any such
     Subsidiary, or in any way interfere with the relationship between the
     Company, Employer and any of their respective Subsidiaries and any employee
     thereof, (ii) hire any person who was an employee of the Company, Employer
     or any of their respective Subsidiaries within 180 days after such person
     ceased to be an employee of the Company, Employer or any of their
     respective Subsidiaries (PROVIDED, HOWEVER, THAT such restriction shall not
     apply for a particular employee if the Company has provided its written
     consent to such hire, which consent, in the case of any person who was not
     a key employee of the Company, Employer or any of their respective
     Subsidiaries, shall not be unreasonably withheld), (iii) induce or attempt
     to induce any customer, supplier, licensee or other business relation of
     the Company, Employer or any of their respective Subsidiaries to cease
     doing business with the Company, Employer or any such Subsidiary or in any
     way interfere with the relationship between any such customer, supplier,
     licensee or business relation and the Company, Employer or any Subsidiary
     or (iv) directly or indirectly acquire or attempt to acquire an interest in
     any business relating to the business of the Company, Employer or any of
     their respective Subsidiaries and with which

                                       11
<Page>

     the Company, Employer and any of their respective Subsidiaries has
     conducted discussions or has requested and received information relating to
     the acquisition of such business by the Company, Employer or any of their
     respective Subsidiaries in the two year period immediately preceding a
     Separation.

          (c) ENFORCEMENT. If, at the time of enforcement of SECTION 8 or this
     SECTION 9, a court holds that the restrictions stated herein are
     unreasonable under circumstances then existing, the parties hereto agree
     that the maximum duration, scope or geographical area reasonable under such
     circumstances shall be substituted for the stated period, scope or area and
     that the court shall be allowed to revise the restrictions contained herein
     to cover the maximum duration, scope and area permitted by law. Because
     Executive's services are unique and because Executive has access to
     Confidential Information, the parties hereto agree that money damages would
     be an inadequate remedy for any breach of this Agreement. Therefore, in the
     event of a breach or threatened breach of this Agreement, the Company,
     Employer, their respective Subsidiaries or their successors or assigns may,
     in addition to other rights and remedies existing in their favor, apply to
     any court of competent jurisdiction for specific performance and/or
     injunctive or other relief in order to enforce, or prevent any violations
     of, the provisions hereof (without posting a bond or other security).

          (d) ADDITIONAL ACKNOWLEDGMENTS. Executive acknowledges that the
     provisions of this SECTION 9 are in consideration of: (i) employment with
     the Employer, (ii) the issuance of the Executive Securities by the Company
     and (iii) additional good and valuable consideration as set forth in this
     Agreement. In addition, Executive agrees and acknowledges that the
     restrictions contained in SECTION 8 and this SECTION 9 do not preclude
     Executive from earning a livelihood, nor do they unreasonably impose
     limitations on Executive's ability to earn a living. In addition, Executive
     acknowledges (i) that the business of the Company, Employer and their
     respective Subsidiaries will be conducted throughout the United States,
     (ii) notwithstanding the state of incorporation or principal office of the
     Company, Employer or any of their respective Subsidiaries, or any of their
     respective executives or employees (including the Executive), it is
     expected that the Company and Employer will have business activities and
     have valuable business relationships within its industry throughout the
     United States and (iii) as part of his responsibilities, Executive will be
     traveling throughout the United States in furtherance of Employer's
     business and its relationships. Executive agrees and acknowledges that the
     potential harm to the Company and Employer of the non-enforcement of
     SECTION 8 and this SECTION 9 outweighs any potential harm to Executive of
     its enforcement by injunction or otherwise. Executive acknowledges that he
     has carefully read this Agreement and has given careful consideration to
     the restraints imposed upon Executive by this Agreement, and is in full
     accord as to their necessity for the reasonable and proper protection of
     confidential and proprietary information of the Company, Employer and their
     Subsidiaries now existing or to be developed in the future. Executive
     expressly acknowledges and agrees that each and every restraint imposed by
     this Agreement is reasonable with respect to subject matter, time period
     and geographical area.

                                       12
<Page>

                               GENERAL PROVISIONS

     10.  DEFINITIONS.

     "AFFILIATE" means, (i) with respect to any Person, any Person that
controls, is controlled by or is under common control with such Person or an
Affiliate of such Person, and (ii) with respect to any Purchaser, any general or
limited partner of such Purchaser, any employee or owner of any such partner, or
any other Person controlling, controlled by or under common control with such
Purchaser.

     "BOARD" means the Company's board of directors (or its equivalent).

     "CAUSE" means (i) the intentional or knowing commission of a felony or a
crime involving moral turpitude or the commission of any other act or omission
involving dishonesty or fraud with respect to the Company, Employer or any of
their respective Subsidiaries or any of their customers or suppliers, (ii)
substantial and repeated failure to perform duties of the office held by
Executive as reasonably directed by the Chief Executive Officer of Employer
and/or the Board, (iii) gross negligence or willful misconduct with respect to
the Company, Employer or any of their respective Subsidiaries, (iv) conduct
tending to bring the Company, Employer or any of their respective Subsidiaries
into substantial public disgrace or disrepute, (v) any breach by Executive of
SECTIONS 8 or 9 of this Agreement or (vi) with respect to the U.S. visa held by
Executive, failure to comply with the expiration terms thereof. Notwithstanding
the foregoing, if it is alleged or determined that actions taken by Executive
caused the Company, Employer or any of their respective Subsidiaries to engage
in illegal activities or operations, the taking of such actions by Executive
shall not constitute "Cause" hereunder if Executive had a reasonable and good
faith belief that such actions were not in violation of any law, rule,
regulation or court order, were in the best interests of the Company, Employer
and their respective Subsidiaries and were taken in the ordinary course of
business.

     "COMET" means The Comet Products Corporation, a Delaware corporation.

     "CREDIT AGREEMENT" means the Credit Agreement, dated as of April 6, 2004,
among Employer, Prestige Brands International, LLC, a Delaware limited liability
company, the lenders and issuers party thereto, Citicorp North America, Inc., as
administrative agent and Tranche C Agent (as defined therein), Bank of America,
N.A., as syndication agent for the lenders and issuers, Merrill Lynch Capital, a
division of Merrill Lynch Business Financial Services Inc., as documentation
agent for the lenders and issuers, and the other parties named therein, as the
same may be amended, supplemented or otherwise modified from time to time, at
any renewal, extension, refunding, restructuring, replacement or refinancing
thereof (whether with the original agent or lenders or another agent or agents
or other lenders and whether provided under the original Credit Agreement or any
other credit agreement).

     "DENOREX" means The Denorex Company, a Delaware corporation.

                                       13
<Page>

     "DISABILITY" means the disability of Executive caused by any physical or
mental injury, illness or incapacity as a result of which Executive is unable to
effectively perform the essential functions of Executive's duties as determined
by the Board in good faith.

     "EBITDA" means "Adjusted EBITDA" as such term is defined in the Credit
Agreement.

     "EXECUTIVE SECURITIES" means all Common Shares acquired by Executive
pursuant to the Exchange Agreement. Executive Securities will continue to be
Executive Securities in the hands of any holder other than Executive (except for
the Company and transferees in a Public Sale, which transferees shall not be
subject to the provisions of this Agreement with respect to such securities),
and except as otherwise provided herein, each such other holder of Executive
Securities will succeed to all rights and obligations attributable to Executive
as a holder of Executive Securities hereunder. Executive Securities (or,
individually, any particular type of equity security included therein) will also
include equity securities of the Company issued with respect to Executive
Securities (or, individually, any particular type of equity security included
therein) by way of a stock split, stock dividend, conversion, or other
recapitalization. For the avoidance of doubt, all Unvested Shares shall remain
Unvested Shares after a Transfer thereof, unless such Transfer is to the Company
or a transferee in a Public Sale.

     "FAIR MARKET VALUE" of each share of Executive Securities means the average
of the closing prices of the sales of such Executive Securities on all
securities exchanges on which such Executive Securities may at the time be
listed, or, if there have been no sales on any such exchange on any day, the
average of the highest bid and lowest asked prices on all such exchanges at the
end of such day, or, if on any day such Executive Securities are not so listed,
the average of the representative bid and asked prices quoted in the NASDAQ
System as of 4:00 P.M., New York time, or, if on any day such Executive
Securities are not quoted in the NASDAQ System, the average of the highest bid
and lowest asked prices on such day in the domestic over-the-counter market as
reported by the National Quotation Bureau Incorporated, or any similar successor
organization, in each such case averaged over a period of 21 days consisting of
the day as of which the Fair Market Value is being determined and the 20
consecutive business days prior to such day. If at any time such Executive
Securities are not listed on any securities exchange or quoted in the NASDAQ
System or the over-the-counter market, the Fair Market Value will be the fair
value of such Executive Securities as determined in good faith by the Board. If
Executive reasonably disagrees with such determination, Executive shall deliver
to the Board a written notice of objection (an "OBJECTION") within thirty (30)
days after delivery of the Separation Repurchase Notice. Upon receipt of
Executive's Objection, the Board and Executive will negotiate in good faith to
agree on such Fair Market Value. If such agreement is not reached within 20 days
after the delivery of the Objection, Fair Market Value shall be determined by an
appraiser jointly selected by the Board and Executive, which appraiser shall
submit to the Board and Executive a report within 30 days of its engagement
setting forth such determination. If the parties are unable to agree on an
appraiser within 25 days after delivery of the Objection, within seven days,
each party shall submit the names of four nationally recognized firms that are

                                       14
<Page>

engaged in the business of valuing non-public securities, and each party shall
be entitled to strike two names from the other party's list of firms, and the
appraiser shall be selected by lot from the remaining four investment banking
firms. The expenses of such appraiser shall be borne equally by Executive and
the Company. The determination of such appraiser as to Fair Market Value shall
be final and binding upon all parties.

     "FAMILY GROUP" means a Person's spouse and descendants (whether natural or
adopted), and any trust, family limited partnership, limited liability company
or other entity wholly owned, directly or indirectly, by such Person or such
Person's spouse and/or descendants that is and remains solely for the benefit of
such Person and/or such Person's spouse and/or descendants and any retirement
plan for such Person.

     "GOOD REASON" means (i) any material diminution in Executive's position,
title, authority, powers, functions, duties or responsibilities with Employer,
(ii) the permanent relocation or transfer of Employer's principal office outside
a 30 mile radius from Irvington, New York or (iii) any failure of Employer to
comply with the Annual Base Salary and bonus provisions of SECTION 7(b) hereof;
provided, however, that either or both of clauses (i) or (ii) shall be
disregarded for purposes of this definition if Peter Mann, as the Chief
Executive Officer of Employer, consents to the circumstances described in such
clause(s). For the avoidance of doubt, if Executive's resignation is due to the
expiration (or anticipated expiration) of his U.S. visa, such termination of
employment shall be treated hereunder as a resignation other than for Good
Reason.

     "GTCR CAPITAL PARTNERS" means GTCR Capital Partners, L.P., a Delaware
limited partnership.

     "GTCR CO-INVEST" means GTCR Co-Invest II, L.P., a Delaware limited
partnership.

     "GTCR FUND VIII" means GTCR Fund VIII, L.P., a Delaware limited
partnership.

     "GTCR FUND VIII/B" means GTCR Fund VIII/B, L.P., a Delaware limited
partnership.

     "MEDTECH" means Medtech Holdings, Inc., a Delaware corporation.

     "ORIGINAL COST" means, with respect to each Common Unit acquired pursuant
to the Prior Agreement, $0.10 (each as proportionately adjusted for all
subsequent stock splits, stock dividends and other recapitalizations).

     "PERSON" means an individual, a partnership, a limited liability company, a
corporation, an association, a joint stock company, a trust, a joint venture, an
unincorporated organization, investment fund, any other business entity and a
governmental entity or any department, agency or political subdivision thereof.

     "PRESTIGE" means Prestige Brands International, Inc., a Virginia
corporation.

                                       15
<Page>

     "PUBLIC OFFERING" means the sale in an underwritten public offering
registered under the Securities Act of equity securities of the Company or a
corporate successor to the Company.

     "PUBLIC SALE" means (i) any sale pursuant to a registered public offering
under the Securities Act or (ii) any sale to the public pursuant to Rule 144
promulgated under the Securities Act effected through a broker, dealer or market
maker (other than pursuant to Rule 144(k) prior to a Public Offering).

     "PURCHASER" has the meaning set forth in the Exchange Agreement.

     "REGISTRATION AGREEMENT" means the Registration Rights Agreement, dated as
of February 6, 2004, by and among the Company and certain of its
securityholders, as amended from time to time pursuant to its terms.

     "SALE OF THE COMPANY" means any transaction or series of transactions
pursuant to which any Person or group of related Persons other than the
Purchasers or their Affiliates in the aggregate acquire(s) (i) equity securities
of the Company possessing the voting power (other than voting rights accruing
only in the event of a default, breach or event of noncompliance) to elect a
majority of the Board (whether by merger, consolidation, reorganization,
combination, sale or transfer of the Company's equity, securityholder or voting
agreement, proxy, power of attorney or otherwise) or (ii) all or substantially
all of the Company's assets determined on a consolidated basis; PROVIDED that a
Public Offering shall not constitute a Sale of the Company.

     "SECURITIES ACT" means the Securities Act of 1933, as amended from time to
time.

     "SEPARATION" means the cessation of employment of Executive with the
Company, Employer and their respective Subsidiaries for any reason.

     "SPIC AND SPAN" means The Spic and Span Company, a Delaware corporation.

     "SUBSIDIARY" means, with respect to any Person, any corporation, limited
liability company, partnership, association, or business entity of which (i) if
a corporation, a majority of the total voting power of shares of stock entitled
(without regard to the occurrence of any contingency) to vote in the election of
directors, managers, or trustees thereof is at the time owned or controlled,
directly or indirectly, by that Person or one or more of the other Subsidiaries
of that Person or a combination thereof, or (ii) if a limited liability company,
partnership, association, or other business entity (other than a corporation), a
majority of partnership or other similar ownership interest thereof is at the
time owned or controlled, directly or indirectly, by that Person or one or more
Subsidiaries of that Person or a combination thereof. For purposes hereof, a
Person or Persons shall be deemed to have a majority ownership interest in a
limited liability company, partnership, association, or other business entity
(other than a corporation) if such Person or Persons shall be allocated a
majority of limited liability company, partnership, association, or other
business entity gains or losses or shall be or control any managing director or
general partner of such limited liability company, partnership, association, or
other business entity. For purposes hereof, references to a "SUBSIDIARY" of

                                       16
<Page>

any Person shall be given effect only at such times that such Person has one or
more Subsidiaries, and, unless otherwise indicated, the term "Subsidiary" refers
to a Subsidiary of the Company.

     "TCW/CRESCENT LENDERS" means collectively, TCW/Crescent Mezzanine Partners
III, L.P., a Delaware limited partnership, TCW/Crescent Mezzanine Trust III, a
Delaware business trust, and TCW/Crescent Mezzanine Partners III Netherlands,
L.P., a Delaware limited partnership, any of their Affiliates or any investment
fund for whom Trust Company of the West or any Affiliate of Trust Company of the
West acts as an account manager.

     "TCW/CRESCENT PURCHASERS" means collectively, TCW/Crescent Mezzanine
Partners III, L.P., a Delaware limited partnership, TCW/Crescent Mezzanine Trust
III, a Delaware business trust, and TCW/Crescent Mezzanine Partners III
Netherlands, L.P., a Delaware limited partnership, any of their Affiliates or
any investment fund for whom Trust Company of the West or any Affiliate of Trust
Company of the West acts as an account manager.

     "TRANSFER" means to sell, transfer, assign, pledge or otherwise dispose of
(whether with or without consideration and whether voluntarily or involuntarily
or by operation of law).

     "WELFARE PLANS" mean the welfare benefit plans, practices, policies and
programs provided by Employer to the extent applicable generally to other senior
executives of the Company.

     11.  NOTICES. Any notice provided for in this Agreement must be in writing
and must be either personally delivered, mailed by first class mail (postage
prepaid and return receipt requested) or sent by reputable overnight courier
service (charges prepaid) to the recipient at the address below indicated:

          IF TO EMPLOYER:

               Prestige Brands, Inc.
               90 North Broadway
               Irvington, New York 10533
               Attention: Chief Executive Officer

               WITH COPIES TO:

               GTCR Golder Rauner II, L.L.C.
               6100 Sears Tower
               Chicago, Illinois 60606-6402
               Attention: David A. Donnini and Vincent J. Hemmer

               Kirkland & Ellis LLP
               200 East Randolph Drive
               Chicago, Illinois 60601

                                       17
<Page>

               Attention: Kevin R. Evanich, P.C. and Christopher J. Greeno

          IF TO THE COMPANY:

               Prestige International Holdings, LLC
               90 North Broadway
               Irvington, New York 10533
               Attention: Chief Executive Officer

               WITH COPIES TO:

               GTCR Golder Rauner II, L.L.C.
               6100 Sears Tower
               Chicago, Illinois 60606-6402
               Attention: David A. Donnini and Vincent J. Hemmer

               Kirkland & Ellis LLP
               200 East Randolph Drive
               Chicago, Illinois 60601
               Attention: Kevin R. Evanich, P.C. and Christopher J. Greeno

          IF TO EXECUTIVE:

               Eric M. Millar
               31 Landing Drive
               Dobbs Ferry, New York 10522

               WITH A COPY TO:

               Ford Marrin Esposito Witmeyer & Gleser LLP
               Wall Street Plaza
               New York, New York  10005-1875
               Attention: James M. Adrian

          IF TO THE PURCHASERS:

               See the attached PURCHASER NOTICE SCHEDULE.

or such other address or to the attention of such other Person as the recipient
party shall have specified by prior written notice to the sending party. Any
notice under this Agreement will be deemed to have been given when so delivered
or sent or, if mailed, five days after deposit in the U.S. mail.

     12.  GENERAL PROVISIONS.

          (a) TRANSFERS IN VIOLATION OF AGREEMENT. Any Transfer or attempted
     Transfer of any Executive Securities in violation of any provision of this
     Agreement shall be void, and the Company shall not record such Transfer on
     its

                                       18
<Page>

     books or treat any purported transferee of such Executive Securities as the
     owner of such equity for any purpose.

          (b) SEVERABILITY. Whenever possible, each provision of this Agreement
     will be interpreted in such manner as to be effective and valid under
     applicable law, but if any provision of this Agreement is held to be
     invalid, illegal or unenforceable in any respect under any applicable law
     or rule in any jurisdiction, such invalidity, illegality or
     unenforceability will not affect any other provision or any other
     jurisdiction, but this Agreement will be reformed, construed and enforced
     in such jurisdiction as if such invalid, illegal or unenforceable provision
     had never been contained herein.

          (c) COMPLETE AGREEMENT. This Agreement, those documents expressly
     referred to herein and other documents of even date herewith embody the
     complete agreement and understanding among the parties and supersede and
     preempt any prior understandings, agreements or representations by or among
     the parties, written or oral, which may have related to the subject matter
     hereof in any way (including any offer of employment previously entered
     into between Spic and Span and Executive).

          (d) NO STRICT CONSTRUCTION. The language used in this Agreement shall
     be deemed to be the language chosen by the parties hereto to express their
     mutual intent, and no rule of strict construction shall be applied against
     any party.

          (e) COUNTERPARTS. This Agreement may be executed and delivered in
     separate counterparts (including by means of facsimile), each of which is
     deemed to be an original and all of which taken together constitute one and
     the same agreement.

          (f) SUCCESSORS AND ASSIGNS. Except as otherwise provided herein, this
     Agreement shall bind and inure to the benefit of and be enforceable by
     Executive, the Company, the Purchasers and their respective successors and
     assigns (including subsequent holders of Executive Securities); provided
     that the rights and obligations of Executive under this Agreement shall not
     be assignable except in connection with a permitted transfer of Executive
     Securities hereunder.

          (g) CHOICE OF LAW. The law of the State of Delaware will govern all
     questions concerning the relative rights of the Company, Employer and its
     securityholders. All other questions concerning the construction, validity
     and interpretation of this Agreement and the exhibits hereto will be
     governed by and construed in accordance with the internal laws of the State
     of Delaware, without giving effect to any choice of law or conflict of law
     provision or rule (whether of the State of Delaware or any other
     jurisdiction) that would cause the application of the laws of any
     jurisdiction other than the State of Delaware.

          (h) MUTUAL WAIVER OF JURY TRIAL. BECAUSE DISPUTES ARISING IN
     CONNECTION WITH COMPLEX TRANSACTIONS ARE

                                       19
<Page>

     MOST QUICKLY AND ECONOMICALLY RESOLVED BY AN EXPERIENCED AND EXPERT PERSON
     AND THE PARTIES WISH APPLICABLE STATE AND FEDERAL LAWS TO APPLY (RATHER
     THAN ARBITRATION RULES), THE PARTIES DESIRE THAT THEIR DISPUTES BE RESOLVED
     BY A JUDGE APPLYING SUCH APPLICABLE LAWS. THEREFORE, TO ACHIEVE THE BEST
     COMBINATION OF THE BENEFITS OF THE JUDICIAL SYSTEM AND OF ARBITRATION, EACH
     PARTY TO THIS AGREEMENT HEREBY WAIVES ALL RIGHTS TO TRIAL BY JURY IN ANY
     ACTION, SUIT, OR PROCEEDING BROUGHT TO RESOLVE ANY DISPUTE BETWEEN OR AMONG
     ANY OF THE PARTIES HERETO, WHETHER ARISING IN CONTRACT, TORT, OR OTHERWISE,
     ARISING OUT OF, CONNECTED WITH, RELATED OR INCIDENTAL TO THIS AGREEMENT,
     THE TRANSACTIONS CONTEMPLATED HEREBY AND/OR THE RELATIONSHIP ESTABLISHED
     AMONG THE PARTIES HEREUNDER.

          (i) EXECUTIVE'S COOPERATION. During the Employment Period and
     thereafter, Executive shall cooperate with the Company, Employer and their
     respective Subsidiaries and Affiliates in any disputes with third parties,
     internal investigation or administrative, regulatory or judicial proceeding
     as reasonably requested by the Company (including, without limitation,
     Executive being available to the Company upon reasonable notice for
     interviews and factual investigations, appearing at the Company's request
     to give testimony without requiring service of a subpoena or other legal
     process, volunteering to the Company all pertinent information and turning
     over to the Company all relevant documents which are or may come into
     Executive's possession, all at times and on schedules that are reasonably
     consistent with Executive's other permitted activities and commitments). In
     the event the Company requires Executive's cooperation in accordance with
     this paragraph after the Employment Period, the Company shall reimburse
     Executive for reasonable travel expenses (including lodging and meals, upon
     submission of receipts) and compensate Executive for his time at a rate
     that is mutually agreeable to Executive and the Company.

          (j) REMEDIES. Each of the parties to this Agreement (and the
     Purchasers as third-party beneficiaries) will be entitled to enforce its
     rights under this Agreement specifically, to recover damages and costs
     (including attorney's fees) caused by any breach of any provision of this
     Agreement and to exercise all other rights existing in its favor. The
     parties hereto agree and acknowledge that money damages may not be an
     adequate remedy for any breach of the provisions of this Agreement and that
     any party may in its sole discretion apply to any court of law or equity of
     competent jurisdiction (without posting any bond or deposit) for specific
     performance and/or other injunctive relief in order to enforce or prevent
     any violations of the provisions of this Agreement.

          (k) AMENDMENT AND WAIVER. The provisions of this Agreement may be
     amended and waived only with the prior written consent of the Company,

                                       20
<Page>

     Employer, Executive and the Majority Holders (as defined in the Exchange
     Agreement).

          (l) INSURANCE. The Company, at its discretion, may apply for and
     procure in its own name and for its own benefit life and/or disability
     insurance on Executive in any amount or amounts considered available.
     Executive agrees to cooperate in any medical or other examination, supply
     any information, and to execute and deliver any applications or other
     instruments in writing as may be reasonably necessary to obtain and
     constitute such insurance. Executive hereby represents that he has no
     reason to believe that his life is not insurable at rates now prevailing
     for healthy men of his age.

          (m) BUSINESS DAYS. If any time period for giving notice or taking
     action hereunder expires on a day which is a Saturday, Sunday or holiday in
     the state in which the Company's chief executive office is located, the
     time period shall be automatically extended to the business day immediately
     following such Saturday, Sunday or holiday.

          (n) INDEMNIFICATION AND REIMBURSEMENT OF PAYMENTS ON BEHALF OF
     EXECUTIVE. The Company and its Subsidiaries shall be entitled to deduct or
     withhold from any amounts owing from the Company or any of its Subsidiaries
     to Executive any federal, state, local or foreign withholding taxes, excise
     taxes, or employment taxes ("TAXES") imposed with respect to Executive's
     compensation or other payments from the Company or any of its Subsidiaries
     or Executive's ownership interest in the Company, including, without
     limitation, wages, bonuses, dividends, the receipt or exercise of equity
     options and/or the receipt or vesting of restricted equity. In the event
     the Company or any of its Subsidiaries does not make such deductions or
     withholdings, Executive shall indemnify the Company and its Subsidiaries
     for any amounts paid with respect to any such Taxes, together with any
     interest, penalties and related expenses thereto.

          (o) REASONABLE EXPENSES. Employer agrees to pay the reasonable fees
     and expenses of Executive's counsel arising in connection with the
     negotiation and execution of this Agreement and the consummation of the
     transactions contemplated by this Agreement.

          (p) TERMINATION. This Agreement (except for the provisions of SECTIONS
     7(a) and (b)) shall survive a Separation and shall remain in full force and
     effect after such Separation.

          (q) ADJUSTMENTS OF NUMBERS. All numbers set forth herein that refer to
     share prices or amounts will be appropriately adjusted to reflect share
     splits, share dividends, combinations of shares and other recapitalizations
     affecting the subject class of equity.

          (r) DEEMED TRANSFER OF EXECUTIVE SECURITIES. If the Company (and/or
     any other Person acquiring securities) shall make available, at the time
     and place and

                                       21
<Page>

     in the amount and form provided in this Agreement, the consideration for
     the Executive Securities to be repurchased in accordance with the
     provisions of this Agreement, then from and after such time, the Person
     from whom such shares are to be repurchased shall no longer have any rights
     as a holder of such shares (other than the right to receive payment of such
     consideration in accordance with this Agreement), and such shares shall be
     deemed purchased in accordance with the applicable provisions hereof and
     the Company (and/or any other Person acquiring securities) shall be deemed
     the owner and holder of such shares, whether or not the certificates
     therefor have been delivered as required by this Agreement.

          (s) RIGHTS GRANTED TO GTCR FUND VIII AND ITS AFFILIATES. Any rights
     granted to GTCR Fund VIII, GTCR Fund VIII/B, GTCR Co-Invest and their
     Affiliates hereunder may also be exercised (in whole or in part) by their
     designees.

                                    * * * * *

                                       22
<Page>

     IN WITNESS WHEREOF, the parties hereto have executed this Senior Management
Agreement on the date first written above.

                                        PRESTIGE BRANDS HOLDINGS, INC.

                                        By:
                                           ----------------------------
                                        Name:
                                             --------------------------
                                        Title:
                                              -------------------------

                                        PRESTIGE INTERNATIONAL
                                        HOLDINGS, LLC

                                        By:
                                           ----------------------------
                                        Name:
                                             --------------------------
                                        Title:
                                              -------------------------

                                        PRESTIGE BRANDS, INC.

                                        By:
                                           ----------------------------
                                        Name:
                                             --------------------------
                                        Title:
                                              -------------------------

                                        -------------------------------
                                        ERIC M. MILLAR

Agreed and Accepted:

GTCR FUND VIII, L.P.

By:   GTCR Partners VIII, L.P.
Its:  General Partner

By:   GTCR Golder Rauner II, L.L.C.
Its:  General Partner

By:
      --------------------------------
Name:  David A. Donnini
Its:   Principal

GTCR FUND VIII/B, L.P.

By:   GTCR Partners VIII, L.P.
Its:  General Partner

By:   GTCR Golder Rauner II, L.L.C.
Its:  General Partner

By:
      --------------------------------

                                       B-1
<Page>

Name:  David A. Donnini
Its:   Principal

GTCR CO-INVEST II, L.P.

By:   GTCR Golder Rauner II, L.L.C.
Its:  General Partner

By:
      --------------------------------
Name:  David A. Donnini
Its:   Principal

GTCR CAPITAL PARTNERS, L.P.

By:   GTCR Mezzanine Partners, L.P.
Its:  General Partner

By:   GTCR Partners VI, L.P.
Its:  General Partner

By:   GTCR Golder Rauner, L.L.C.
Its:  General Partner

By:
      --------------------------------
Name:
Its:   Principal

TCW/CRESCENT MEZZANINE PARTNERS III, L.P.
TCW/CRESCENT MEZZANINE TRUST III
TCW/CRESCENT MEZZANINE PARTNERS III
  NETHERLANDS, L.P.

By:   TCW/Crescent Mezzanine
      Management III, L.L.C.,
      its Investment Manager

By:   TCW Asset Management Company,
      its Sub-Advisor

By:
      --------------------------------

                                       B-2
<Page>

Name: Timothy P. Costello
Its:  Managing Director

                                       B-3
<Page>

                                                                       EXHIBIT A

                                                                __________, 2005

                    PROTECTIVE ELECTION TO INCLUDE MEMBERSHIP
                      INTEREST IN GROSS INCOME PURSUANT TO
                   SECTION 83(b) OF THE INTERNAL REVENUE CODE

          The undersigned purchased shares of Common Stock, par value $.01 per
share (the "SHARES"), of Prestige Brands Holdings, Inc. (the "COMPANY") on
January 28, 2005. Under certain circumstances, the Company has the right to
repurchase the Shares at cost from the undersigned (or from the holder of the
Shares, if different from the undersigned) should the undersigned cease to be
employed by the Company and its subsidiaries. Hence, the Shares are subject to a
substantial risk of forfeiture that may not be avoided by a transfer of the
Shares to another person. The undersigned desires to make an election to have
the Shares taxed under the provision of Code Section 83(b) at the time he
purchased the Shares.

          Therefore, pursuant to Code Section 83(b) and Treasury Regulation
Section 1.83-2 promulgated thereunder, the undersigned hereby makes an election,
with respect to the Shares (described below), to report as taxable income for
calendar year 2005 the excess (if any) of the Shares' fair market value on
January 28, 2005 over purchase price thereof.

          The following information is supplied in accordance with Treasury
Regulation Section 1.83-2(e):

1.   The name, address and social security number of the undersigned:

                         ______________________________
                         ______________________________
                         ______________________________
                         ______________________________
                         ______________________________

2.   A description of the property with respect to which the election is being
made: _______ shares of Prestige Brands Holdings, Inc.'s Common Stock, par value
$.01 per share.

3.   The date on which the property was transferred: January 28, 2005. The
taxable year for which such election is made: calendar 2005.

4.   The restrictions to which the property is subject: If the undersigned
ceases to be employed by the Company or any of its subsidiaries, the unvested
portion of the Shares will be subject to repurchase by the Company at the lower
of cost or market value.

5.   The fair market value on January 28, 2005 of the property with respect to
which the election is being made, determined without regard to any lapse
restrictions: $______ per share of Common Stock.

<Page>

6.   The amount paid for such property: $______ per share of Common Stock.

          A copy of this election has been furnished to the Secretary of the
Company pursuant to Treasury Regulations Section 1.83-2(d).

Dated:
       --------------------------------         --------------------------------
                                                           [EXECUTIVE]

<Page>

                            PURCHASER NOTICE SCHEDULE

IF TO GTCR FUND VIII, L.P., GTCR FUND VIII/B, L.P. OR GTCR CO-INVEST II, L.P.:
c/o GTCR Golder Rauner II, L.L.C.
6100 Sears Tower
Chicago, IL  60606-6402
Attention:  David A. Donnini and Vincent J. Hemmer

WITH A COPY TO:

Kirkland & Ellis LLP
200 East Randolph Drive
Chicago, IL 60601
Attention: Kevin R. Evanich, P.C.
          Christopher J. Greeno

IF TO GTCR CAPITAL PARTNERS:

GTCR Capital Partners, L.P.
6100 Sears Tower
Chicago, IL 60606-6402
Attention: Barry Dunn

WITH A COPY TO:

Kirkland & Ellis LLP
200 East Randolph Drive
Chicago, IL 60601
Attention: Kevin R. Evanich, P.C.
          Christopher J. Greeno

IF TO THE TCW/CRESCENT LENDERS AND/OR TCW/CRESCENT PURCHASERS:

TCW/Crescent Mezzanine Partners III, L.P.
TCW/Crescent Mezzanine Trust III
TCW/Crescent Mezzanine Partners III Netherlands, L.P.
c/o TCW/Crescent Mezzanine, L.L.C.
200 Crescent Court, Suite 1600
Dallas, Texas 75201
Attention: Timothy P. Costello
Telecopier No.: (214) 740-7382

<Page>

WITH A COPY TO:

Gardere Wynne Sewell LLP
3000 Thanksgiving Tower
1601 Elm Street
Dallas, Texas 75201
Attention: Gary B. Clark
Telecopier No.: (214) 999-4667<Page>

                                                                   Exhibit 10.38

                         PRESTIGE BRANDS HOLDINGS, INC.
                      2005 LONG-TERM EQUITY INCENTIVE PLAN

1.   PURPOSE

          This plan shall be known as the Prestige Brands Holdings, Inc. 2005
Long-Term Equity Incentive Plan (the "Plan"). The purpose of the Plan shall be
to promote the long-term growth and profitability of Prestige Brands Holdings,
Inc. (the "Company") and its Subsidiaries by (i) providing certain directors,
officers and employees of, and certain other individuals who perform services
for, the Company and its Subsidiaries with incentives to maximize stockholder
value and otherwise contribute to the success of the Company and (ii) enabling
the Company to attract, retain and reward the best available persons for
positions of responsibility. Grants of incentive or non-qualified stock options,
restricted stock, restricted stock units, deferred stock units, performance
awards, or any combination of the foregoing may be made under the Plan.

2.   DEFINITIONS

          (a)  "Board of Directors" and "Board" mean the board of directors of
the Company.

          (b)  "Cause" means the occurrence of one or more of the following
events:

               (i)     Conviction of a felony or any crime or offense lesser
than a felony involving the property of the Company or a Subsidiary; or

               (ii)    Conduct that has caused demonstrable and serious injury
to the Company or a Subsidiary, monetary or otherwise; or

               (iii)   Willful refusal to perform or substantial disregard of
duties properly assigned, as determined by the Company or a Subsidiary, as the
case may be; or

               (iv)    Breach of duty of loyalty to the Company or a Subsidiary
or other act of fraud or dishonesty with respect to the Company or a Subsidiary.

          (c)  "Change in Control" means the occurrence of one of the following
events:

               (i)     if any "person" or "group" as those terms are used in
Sections 13(d) and 14(d) of the Exchange Act or any successors thereto, other
than an Exempt Person, is or becomes the "beneficial owner" (as defined in Rule
13d-3 under the Exchange Act or any successor thereto), directly or indirectly,
of securities of the Company representing 50% or more of the combined voting
power of the Company's then outstanding securities; or

               (ii)    during any period of two consecutive years, individuals
who at the beginning of such period constitute the Board and any new directors
whose election by the Board or nomination for election by the Company's
stockholders was approved by at least two-thirds of

<Page>

the directors then still in office who either were directors at the beginning of
the period or whose election was previously so approved, cease for any reason to
constitute a majority thereof; or

               (iii)   consummation of a merger or consolidation of the Company
with any other corporation, other than a merger or consolidation (A) which would
result in all or a portion of the voting securities of the Company outstanding
immediately prior thereto continuing to represent (either by remaining
outstanding or by being converted into voting securities of the surviving
entity) more than 50% of the combined voting power of the voting securities of
the Company or such surviving entity outstanding immediately after such merger
or consolidation or (B) by which the corporate existence of the Company is not
affected and following which the Company's chief executive officer and directors
retain their positions with the Company (and constitute at least a majority of
the Board); or

               (iv)    consummation of a plan of complete liquidation of the
Company or a sale or disposition by the Company of all or substantially all the
Company's assets, other than a sale to an Exempt Person.

          (d)  "Code" means the Internal Revenue Code of 1986, as amended.

          (e)  "Committee" means the Compensation Committee of the Board, which
shall consist solely of two or more members of the Board.

          (f)  "Common Stock" means the Common Stock, par value $0.01 per share,
of the Company, and any other shares into which such stock may be changed by
reason of a recapitalization, reorganization, merger, consolidation or any other
change in the corporate structure or capital stock of the Company.

          (g)  "Competition" is deemed to occur if a person whose employment
with the Company or its Subsidiaries has terminated obtains a position as a
full-time or part-time employee of, as a member of the board of directors of, or
as a consultant or advisor with or to, or acquires an ownership interest in
excess of 5% of, a corporation, partnership, firm or other entity that engages
in any of the businesses of the Company or any Subsidiary with which the person
was involved in a management role at any time during his or her last five years
of employment with or other service for the Company or any Subsidiaries.

          (h)  "Disability" means a disability that would entitle an eligible
participant to payment of monthly disability payments under any Company
disability plan or as otherwise determined by the Committee.

          (i)  "Exchange Act" means the Securities Exchange Act of 1934, as
amended.

          (j)  "Exempt Person" means (i) GTCR Golder Rauner, L.L.C., GTCR Golder
Rauner II, L.L.C. or any of their respective affiliates, (ii) any person, entity
or group under the control of any party included in clause (i), or (iii) any
employee benefit plan of the Company or a trustee or other administrator or
fiduciary holding securities under an employee benefit plan of the Company.

                                        2
<Page>

          (k)  "Family Member" has the meaning given to such term in General
Instructions A.1(a)(5) to Form S-8 under the Securities Act of 1933, as amended,
and any successor thereto.

          (l)  "Fair Market Value" of a share of Common Stock of the Company
means, as of the date in question, the officially-quoted closing selling price
of the stock (or if no selling price is quoted, the bid price) on the principal
securities exchange on which the Common Stock is then listed for trading
(including for this purpose the New York Stock Exchange) (the "Market") for the
applicable trading day or, if the Common Stock is not then listed or quoted in
the Market, the Fair Market Value shall be the fair value of the Common Stock
determined in good faith by the Board; provided, however, that when shares
received upon exercise of an option are immediately sold in the open market, the
net sale price received may be used to determine the Fair Market Value of any
shares used to pay the exercise price or applicable withholding taxes and to
compute the withholding taxes.

          (m)  "Incentive Stock Option" means an option conforming to the
requirements of Section 422 of the Code and any successor thereto.

          (n)  "Non-Employee Director" has the meaning given to such term in
Rule 16b-3 under the Exchange Act and any successor thereto.

          (o)  "Non-qualified Stock Option" means any stock option other than an
Incentive Stock Option.

          (p)  "Other Company Securities" mean securities of the Company other
than Common Stock, which may include, without limitation, unbundled stock units
or components thereof, debentures, preferred stock, warrants and securities
convertible into or exchangeable for Common Stock or other property.

          (q)  "Retirement" means retirement as defined under any Company
pension plan or retirement program or termination of one's employment on
retirement with the approval of the Committee.

          (r)  "Subsidiary" means a corporation or other entity of which
outstanding shares or ownership interests representing 50% or more of the
combined voting power of such corporation or other entity entitled to elect the
management thereof, or such lesser percentage as may be approved by the
Committee, are owned directly or indirectly by the Company.

3.   ADMINISTRATION.

          The Plan shall be administered by the Committee; provided that the
Board may, in its discretion, at any time and from time to time, resolve to
administer the Plan, in which case the term "Committee" shall be deemed to mean
the Board for all purposes herein. Subject to the provisions of the Plan, the
Committee shall be authorized to (i) select persons to participate in the Plan,
(ii) determine the form and substance of grants made under the Plan to each
participant, and the conditions and restrictions, if any, subject to which such
grants will be made, (iii) certify that the conditions and restrictions
applicable to any grant have been met, (iv) modify the terms of

                                        3
<Page>

grants made under the Plan, (v) interpret the Plan and grants made thereunder,
(vi) make any adjustments necessary or desirable in connection with grants made
under the Plan to eligible participants located outside the United States and
(vii) adopt, amend, or rescind such rules and regulations, and make such other
determinations, for carrying out the Plan as it may deem appropriate. Decisions
of the Committee on all matters relating to the Plan shall be in the Committee's
sole discretion and shall be conclusive and binding on all parties. The
validity, construction, and effect of the Plan and any rules and regulations
relating to the Plan shall be determined in accordance with applicable federal
and state laws and rules and regulations promulgated pursuant thereto and the
rules and regulations of the principal securities exchange on which the Common
Stock is then listed for trading. No member of the Committee and no officer of
the Company shall be liable for any action taken or omitted to be taken by such
member, by any other member of the Committee or by any officer of the Company in
connection with the performance of duties under the Plan, except for such
person's own willful misconduct or as expressly provided by statute.

          The expenses of the Plan shall be borne by the Company. The Plan shall
not be required to establish any special or separate fund or make any other
segregation of assets to assume the payment of any award under the Plan, and
rights to the payment of such awards shall be no greater than the rights of the
Company's general creditors.

4.   SHARES AVAILABLE FOR THE PLAN.

          Subject to adjustments as provided in Section 16 hereof, an aggregate
of five million (5,000,000) shares of Common Stock (the "Shares") may be issued
pursuant to the Plan. Such Shares may be in whole or in part authorized and
unissued or held by the Company as treasury shares. If any grant under the Plan
expires or terminates unexercised, becomes unexercisable or is forfeited as to
any Shares, or is tendered or withheld as to any shares in payment of the
exercise price of the grant or the taxes payable with respect to the exercise,
then such unpurchased, forfeited, tendered or withheld Shares shall thereafter
be available for further grants under the Plan.

          Without limiting the generality of the foregoing provisions of this
Section 4 or the generality of the provisions of Sections 3, 6 or 18 or any
other section of this Plan, the Committee may, at any time or from time to time,
and on such terms and conditions (that are consistent with and not in
contravention of the other provisions of this Plan) as the Committee may, in its
sole discretion, determine, enter into agreements (or take other actions with
respect to the options) for new options containing terms (including exercise
prices) more (or less) favorable than the outstanding options.

5.   PARTICIPATION.

          Participation in the Plan shall be limited to those directors
(including Non-Employee Directors), officers (including non-employee officers)
and employees of, and other individuals performing services for, the Company and
its Subsidiaries selected by the Committee (including participants located
outside the United States). Nothing in the Plan or in any grant thereunder shall
confer any right on a participant to continue in the service or employ as a

                                        4
<Page>

director or officer of or in the performance of services for the Company or a
Subsidiary or shall interfere in any way with the right of the Company or a
Subsidiary to terminate the employment or performance of services or to reduce
the compensation or responsibilities of a participant at any time. By accepting
any award under the Plan, each participant and each person claiming under or
through him or her shall be conclusively deemed to have indicated his or her
acceptance and ratification of, and consent to, any action taken under the Plan
by the Company, the Board or the Committee.

          Incentive Stock Options or Non-qualified Stock Options, restricted
stock awards, restricted stock unit or deferred stock unit awards, performance
awards, or any combination thereof, may be granted to such persons and for such
number of Shares as the Committee shall determine (such individuals to whom
grants are made being sometimes herein called "optionees" or "grantees," as the
case may be). Determinations made by the Committee under the Plan need not be
uniform and may be made selectively among eligible individuals under the Plan,
whether or not such individuals are similarly situated. A grant of any type made
hereunder in any one year to an eligible participant shall neither guarantee nor
preclude a further grant of that or any other type to such participant in that
year or subsequent years.

6.   INCENTIVE AND NON-QUALIFIED OPTIONS.

          The Committee may from time to time grant to eligible participants
Incentive Stock Options, Non-qualified Stock Options, or any combination
thereof; provided that the Committee may grant Incentive Stock Options only to
eligible employees of the Company or its subsidiaries (as defined for this
purpose in Section 424(f) of the Code or any successor thereto). In any one
calendar year, the Committee shall not grant to any one participant options to
purchase a number of shares of Common Stock in excess of one million two hundred
fifty thousand (1,125,000) (as adjusted pursuant to Section 16 hereof). The
options granted shall take such form as the Committee shall determine, subject
to the following terms and conditions.

          It is the Company's intent that Non-qualified Stock Options granted
under the Plan not be classified as Incentive Stock Options, that Incentive
Stock Options be consistent with and contain or be deemed to contain all
provisions required under Section 422 of the Code and any successor thereto, and
that any ambiguities in construction be interpreted in order to effectuate such
intent. If an Incentive Stock Option granted under the Plan does not qualify as
such for any reason, then to the extent of such non-qualification, the stock
option represented thereby shall be regarded as a Non-qualified Stock Option
duly granted under the Plan, provided that such stock option otherwise meets the
Plan's requirements for Non-qualified Stock Options.

          (a)  PRICE. The price per Share deliverable upon the exercise of each
option ("exercise price") may not be less than 100% of the Fair Market Value of
a share of Common Stock as of the date of grant of the option, and in the case
of the grant of any Incentive Stock Option to an employee who, at the time of
the grant, owns more than 10% of the total combined voting power of all classes
of stock of the Company or any of its Subsidiaries, the exercise price may not
be less than 110% of the Fair Market Value of a share of Common Stock as of the
date of grant of the option, in each case unless otherwise permitted by Section
422 of the Code or any successor thereto.

                                        5
<Page>

          (b)  PAYMENT. Options may be exercised, in whole or in part, upon
payment of the exercise price of the Shares to be acquired. Unless otherwise
determined by the Committee, payment shall be made (i) in cash (including check,
bank draft, money order or wire transfer of immediately available funds), (ii)
by delivery of outstanding shares of Common Stock with a Fair Market Value on
the date of exercise equal to the aggregate exercise price payable with respect
to the options' exercise, (iii) by simultaneous sale through a broker reasonably
acceptable to the Committee of Shares acquired on exercise, as permitted under
Regulation T of the Federal Reserve Board or (iv) by any combination of the
foregoing.

          In the event a grantee elects to pay the exercise price payable with
respect to an option pursuant to clause (ii) above, (A) only a whole number of
share(s) of Common Stock (and not fractional shares of Common Stock) may be
tendered in payment, (B) such grantee must present evidence acceptable to the
Company that he or she has owned any such shares of Common Stock tendered in
payment of the exercise price (and that such tendered shares of Common Stock
have not been subject to any substantial risk of forfeiture) for at least six
months prior to the date of exercise, and (C) Common Stock must be delivered to
the Company. Delivery for this purpose may, at the election of the grantee, be
made either by (1) physical delivery of the certificate(s) for all such shares
of Common Stock tendered in payment of the price, accompanied by duly executed
instruments of transfer in a form acceptable to the Company, or (2) direction to
the grantee's broker to transfer, by book entry, such shares of Common Stock
from a brokerage account of the grantee to a brokerage account specified by the
Company. When payment of the exercise price is made by delivery of Common Stock,
the difference, if any, between the aggregate exercise price payable with
respect to the option being exercised and the Fair Market Value of the shares of
Common Stock tendered in payment (plus any applicable taxes) shall be paid in
cash. No grantee may tender shares of Common Stock having a Fair Market Value
exceeding the aggregate exercise price payable with respect to the option being
exercised (plus any applicable taxes).

          (c)  TERMS OF OPTIONS. The term during which each option may be
exercised shall be determined by the Committee, but if required by the Code and
except as otherwise provided herein, no option shall be exercisable in whole or
in part more than ten years from the date it is granted, and no Incentive Stock
Option granted to an employee who at the time of the grant owns more than 10% of
the total combined voting power of all classes of stock of the Company or any of
its Subsidiaries shall be exercisable more than five years from the date it is
granted. All rights to purchase Shares pursuant to an option shall, unless
sooner terminated, expire at the date designated by the Committee. The Committee
shall determine the date on which each option shall become exercisable and may
provide that an option shall become exercisable in installments. The Shares
constituting each installment may be purchased in whole or in part at any time
after such installment becomes exercisable, subject to such minimum exercise
requirements as may be designated by the Committee. Prior to the exercise of an
option and delivery of the Shares represented thereby, the optionee shall have
no rights as a stockholder with respect to any Shares covered by such
outstanding option (including any dividend or voting rights).

          (d)  LIMITATIONS ON GRANTS. If required by the Code, the aggregate
Fair Market Value (determined as of the grant date) of Shares for which an
Incentive Stock Option is

                                        6
<Page>

exercisable for the first time during any calendar year under all equity
incentive plans of the Company and its Subsidiaries (as defined in Section 422
of the Code or any successor thereto) may not exceed $100,000.

          (e)  TERMINATION; FORFEITURE.

               (i)     DEATH OR DISABILITY. If a participant ceases to be a
director, officer or employee of, or to perform other services for, the Company
or any Subsidiary due to death or Disability, (A) all of the participant's
options that were exercisable on the date of death or Disability shall remain
exercisable for, and shall otherwise terminate at the end of, a period of 180
days after the date of death or Disability, but in no event after the expiration
date of the options; provided that the participant does not engage in
Competition during such 180 day period unless he or she receives written consent
to do so from the Board or the Committee; provided further that the Board or
Committee may extend such exercise period (and related non-Competition period)
in its discretion, but in no event may such extended exercise period extend past
the date that is two and one-half months after the end of the tax year in which
the exercise period is so extended or beyond the expiration date of the options,
and (B) all of the participant's options that were not exercisable on the date
of death or Disability shall be forfeited immediately upon such death or
Disability; provided, however, that such options may become fully vested and
exercisable in the discretion of the Committee. Notwithstanding the foregoing,
if the Disability giving rise to the termination of employment is not within the
meaning of Section 22(e)(3) of the Code or any successor thereto, Incentive
Stock Options not exercised by such participant within 90 days after the date of
termination of employment will cease to qualify as Incentive Stock Options and
will be treated as Non-qualified Stock Options under the Plan if required to be
so treated under the Code.

               (ii)    RETIREMENT. If a participant ceases to be a director,
officer or employee of, or to perform other services for, the Company or any
Subsidiary upon the occurrence of his or her Retirement, (A) all of the
participant's options that were exercisable on the date of Retirement shall
remain exercisable for, and shall otherwise terminate at the end of, a period of
90 days after the date of Retirement, but in no event after the expiration date
of the options; provided that the participant does not engage in Competition
during such 90 day period unless he or she receives written consent to do so
from the Board or the Committee; provided further that the Board or Committee
may extend such exercise period (and related non-Competition period) in its
discretion, but in no event may such extended exercise period extend past the
date that is two and one-half months after the end of the tax year in which the
exercise period is so extended or beyond the expiration date of the options, and
(B) all of the participant's options that were not exercisable on the date of
Retirement shall be forfeited immediately upon such Retirement; provided,
however, that such options may become fully vested and exercisable in the
discretion of the Committee. Notwithstanding the foregoing, Incentive Stock
Options not exercised by such participant within 90 days after Retirement will
cease to qualify as Incentive Stock Options and will be treated as Non-qualified
Stock Options under the Plan if required to be so treated under the Code.

               (iii)   DISCHARGE FOR CAUSE. If a participant ceases to be a
director, officer or employee of, or to perform other services for, the Company
or a Subsidiary due to Cause, all

                                        7
<Page>

of the participant's options shall expire and be forfeited immediately upon such
cessation, whether or not then exercisable.

               (iv)    OTHER TERMINATION. Unless otherwise determined by the
Committee, if a participant ceases to be a director, officer or employee of, or
to otherwise perform services for, the Company or a Subsidiary for any reason
other than death, Disability, Retirement or Cause, (A) all of the participant's
options that were exercisable on the date of such cessation shall remain
exercisable for, and shall otherwise terminate at the end of, a period of 30
days after the date of such cessation, but in no event after the expiration date
of the options; provided that the participant does not engage in Competition
during such 30-day period unless he or she receives written consent to do so
from the Board or the Committee; provided further that the Board or Committee
may extend such exercise period (and related non-Competition period) in its
discretion, but in no event may such extended exercise period extend past the
date that is two and one-half months after the end of the tax year in which the
exercise period is so extended or beyond the expiration date of the options, and
(B) all of the participant's options that were not exercisable on the date of
such cessation shall be forfeited immediately upon such cessation.

               (v)     CHANGE IN CONTROL. If there is a Change in Control of the
Company and a participant is terminated (other than for Cause, in which case
Section 6(e)(iii) shall control) from being a director, officer or employee of,
or from performing other services for, the Company or a Subsidiary within one
year after such Change in Control, all of the participant's options shall become
fully vested and exercisable upon such termination and shall remain so for up to
one year after the date of termination, but in no event may such exercise period
extend past the date that is two and one-half months after the end of the tax
year in which the termination occurs or beyond the expiration date of the
options. In addition, the Committee shall have the authority to grant options
that become fully vested and exercisable automatically upon a Change in Control,
whether or not the grantee is subsequently terminated.

          (f)  FORFEITURE. If a participant exercises any of his or her options
and, within one year thereafter, either (i) is terminated from the Company or a
Subsidiary for any of the reasons specified in the definition of "Cause" set
forth in Section 2(b), or (ii) engages in Competition without having received
written consent to do so from the Board or the Committee, then the participant
may, in the discretion of the Committee, be required to pay the Company the gain
represented by the difference between the aggregate selling price of the Shares
acquired upon the options' exercise (or, if the Shares were not then sold, their
aggregate Fair Market Value on the date of exercise) and the aggregate exercise
price of the options exercised (the "Option Gain"), without regard to any
subsequent increase or decrease in the Fair Market Value of the Common Stock. In
addition, the Company may, in its discretion, deduct from any payment of any
kind (including salary or bonus) otherwise due to any such participant an amount
equal to the Option Gain.

          (g)  GRANT OF RELOAD OPTIONS. The Committee may provide (either at the
time of grant or exercise of an option), in its discretion, for the grant to a
grantee who exercises all or any portion of an option ("Exercised Options") and
who pays all or part of such exercise price with shares of Common Stock, of an
additional option (a "Reload Option") for a number of shares of Common Stock
equal to the sum (the "Reload Number") of the number of shares of

                                        8
<Page>

Common Stock tendered for the Exercised Options plus, if so provided by the
Committee, the number of shares of Common Stock, if any, tendered by the grantee
in connection with the exercise of the Exercised Options to satisfy any federal,
state or local tax withholding requirements. The terms of each Reload Option,
including the date of its expiration and the terms and conditions of its
exercisability and transferability, shall be the same as the terms of the
Exercised Option to which it relates, except that (i) the grant date for each
Reload Option shall be the date of exercise of the Exercised Option to which it
relates and (ii) the exercise price for each Reload Option shall be the Fair
Market Value of the Common Stock on the grant date of the Reload Option.

7.   [INTENTIONALLY OMITTED].

8.   RESTRICTED STOCK.

          The Committee may at any time and from time to time grant Shares of
restricted stock under the Plan to such participants and in such amounts as it
determines. Each grant of Shares of restricted stock shall specify the
applicable restrictions on such Shares, the duration of such restrictions (which
shall be at least six months except as otherwise determined by the Committee or
provided in this Section 8), and the time or times at which such restrictions
shall lapse with respect to all or a specified number of Shares that are part of
the grant.

          The participant will be required to pay the Company the aggregate par
value of any Shares of restricted stock (or such larger amount as the Board may
determine to constitute capital under Section 154 of the Delaware General
Corporation Law, as amended, or any successor thereto) within ten days of the
date of grant, unless such Shares of restricted stock are treasury shares.
Unless otherwise determined by the Committee, certificates representing Shares
of restricted stock granted under the Plan will be held in escrow by the Company
on the participant's behalf during any period of restriction thereon and will
bear an appropriate legend specifying the applicable restrictions thereon, and
the participant will be required to execute a blank stock power therefor. Except
as otherwise provided by the Committee, during such period of restriction the
participant shall have all of the rights of a holder of Common Stock, including
but not limited to the rights to receive dividends and to vote, and any stock or
other securities received as a distribution with respect to such participant's
restricted stock shall be subject to the same restrictions as then in effect for
the restricted stock.

          If a participant ceases to be a director, officer or employee of, or
to otherwise perform services for, the Company or any Subsidiary due to death,
Disability or Retirement during any period of restriction, all Shares of
restricted stock granted to such participant on which the restrictions have not
lapsed shall be immediately forfeited to the Company; provided, however, in its
sole discretion, the Committee may provide that all restrictions on such Shares
that have not lapsed shall lapse. Subject to the immediately following
paragraph, at such time as a participant ceases to be a director, officer or
employee of, or otherwise performing services for, the Company or its
Subsidiaries for any other reason, all Shares of restricted stock granted to
such participant on which the restrictions have not lapsed shall be immediately
forfeited to the Company.

                                        9
<Page>

          If there is a Change in Control of the Company and a participant is
terminated (other than for Cause, in which case all Shares of restricted stock
granted to such participant on which the restrictions have not lapsed shall be
immediately forfeited to the Company) from being a director, officer or employee
of, or from performing other services for, the Company or a Subsidiary within
one year after such Change in Control, all restrictions on Shares of restricted
stock granted to such participant shall lapse. In addition, the Committee shall
have the authority to grant shares of restricted stock with respect to which all
restrictions shall lapse automatically upon a Change in Control, whether or not
the grantee is subsequently terminated.

9.   RESTRICTED STOCK UNITS; DEFERRED STOCK UNITS.

          The Committee may at any time and from time to time grant restricted
stock units under the Plan to such participants and in such amounts as it
determines. Each grant of restricted stock units shall specify the applicable
restrictions on such units, the duration of such restrictions (which shall be at
least six months except as otherwise determined by the Committee or provided in
the third paragraph of this Section 9), and the time or times at which such
restrictions shall lapse with respect to all or a specified number of units that
are part of the grant.

          Each restricted stock unit shall be equivalent in value to one share
of Common Stock and shall entitle the participant to receive from the Company at
the end of the vesting period (the "Vesting Period") applicable to such unit one
Share, unless the participant elects in a timely fashion to defer the receipt of
such Shares, as provided below. Restricted stock units may be granted without
payment of cash or consideration to the Company; provided that participants
shall be required to pay to the Company the aggregate par value of the Shares
received from the Company within ten days of the issuance of such Shares unless
such Shares are treasury shares.

          Except as otherwise provided by the Committee, during the restriction
period the participant shall not have any rights as a shareholder of the
Company; provided that the participant shall have the right to receive
accumulated dividends or distributions with respect to the corresponding number
of shares of Common Stock underlying each restricted stock unit at the end of
the Vesting Period, unless such restricted stock units are converted into
deferred stock units, in which case such accumulated dividends or distributions
shall be paid by the Company to the participant at such time as the deferred
stock units are converted into Shares.

          If a participant ceases to be a director, officer or employee of, or
to otherwise perform services for, the Company or any Subsidiary due to death,
Disability or Retirement during any period of restriction, all restricted units
granted to such participant on which the restrictions have not lapsed shall be
immediately forfeited to the Company; provided, however, in its sole discretion,
the Committee may provide that all restrictions on such restricted stock units
that have not lapsed shall lapse. Subject to the immediately following
paragraph, at such time as a participant ceases to be a director, officer or
employee of, or otherwise performing services for, the Company or its
Subsidiaries for any other reason, all restricted units granted to such
participant on which the restrictions have not lapsed shall be immediately
forfeited to the Company.

                                       10
<Page>

          If there is a Change in Control of the Company and a participant is
terminated (other than for Cause, in which case all restricted units granted to
such participant on which the restrictions have not lapsed shall be immediately
forfeited to the Company) from being a director, officer or employee of, or from
performing other services for, the Company or a Subsidiary within one year after
such Change in Control, all restrictions on restricted stock units granted to
such participant shall lapse. In addition, the Committee shall have the
authority to grant restricted stock units with respect to which all restrictions
shall lapse automatically upon a Change in Control, whether or not the grantee
is subsequently terminated.

          A participant may elect by written notice to the Company, which notice
must be made before the later of (i) the close of the tax year preceding the
year in which the restricted stock units are granted or (ii) 30 days of first
becoming eligible to participate in the Plan (or, if earlier, the last day of
the tax year in which the participant first becomes eligible to participate in
the plan) and on or prior to the date the restricted stock units are granted, to
defer the receipt of all or a portion of the Shares due with respect to the
vesting of such restricted stock units; provided that the Committee may impose
such additional restrictions with respect to the time at which a participant may
elect to defer receipt of Shares subject to the deferral election, and any other
terms with respect to a grant of restricted stock units to the extent the
Committee deems necessary to enable the participant to defer recognition of
income with respect to such units until the Shares underlying such units are
issued or distributed to the participant. Upon such deferral, the restricted
stock units so deferred shall be converted into deferred stock units. Except as
provided below, delivery of Shares with respect to deferred stock units shall be
made at the end of the deferral period set forth in the participant's deferral
election notice (the "Deferral Period"). Deferral Periods shall be no less than
one year after the vesting date of the applicable restricted stock units.

          Except as otherwise provided by the Committee, during such Deferral
Period the participant shall not have any rights as a shareholder of the
Company; provided that, the participant shall have the right to receive
accumulated dividends or distributions with respect to the corresponding number
of shares of Common Stock underlying each deferred stock unit at the end of the
Deferral Period when such deferred stock units are converted into Shares.

          Except as otherwise provided by the Committee, if a Participant ceases
to be a director, officer or employee of, or to otherwise perform services for,
the Company or any Subsidiary upon his or her death prior to the end of the
Deferral Period, the participant shall receive payment in Shares in respect of
such participant's deferred stock units which would have matured or been earned
at the end of such Deferral Period as if the applicable Deferral Period had
ended as of the date of such participant's death.

          Except as otherwise provided by the Committee, if a participant ceases
to be a director, officer or employee of, or to otherwise perform services for,
the Company or any Subsidiary upon becoming disabled (as defined under Section
409A(a)(2)(C) of the Code) or Retirement or for any other reason except
termination for Cause prior to the end of the Deferral Period, the participant
shall receive payment in Shares in respect of such participant's deferred stock
units at the end of the applicable Deferral Period or on such accelerated basis
as the

                                       11
<Page>

Committee may determine, to the extent permitted by regulations issued under
Section 409A(a)(3) of the Code.

          Except as otherwise provided by the Committee, if a participant ceases
to be a director, officer or employee of, or to otherwise perform services for,
the Company or any Subsidiary due to termination for Cause such participant
shall immediately forfeit any deferred stock units which would have matured or
been earned at the end of the applicable Deferral Period.

          Except as otherwise provided by the Committee, in the event of a
Change in Control that also constitutes a "change in the ownership or effective
control of" the Company, or a change in the ownership of a substantial portion
of the Company's assets (in each case as determined under regulations or other
published guidance (including, without limitation, Notice 2005-1) issued
pursuant to Section 409A(a)(2)(A)(v) of the Code), a participant shall receive
payment in Shares in respect of such participant's deferred stock units which
would have matured or been earned at the end of the applicable Deferral Period
as if such Deferral Period had ended immediately prior to the Change in Control;
provided, however, that if an event that constitutes a Change in Control
hereunder does not constitute a "change in control" under Section 409A of the
Code (or the regulations promulgated thereunder), no payments with respect to
the deferred stock units shall be made under this paragraph to the extent such
payments would constitute an impermissible acceleration under Section 409A of
the Code.

10.  PERFORMANCE AWARDS.

          Performance awards may be granted to participants at any time and from
time to time as determined by the Committee. The Committee shall have complete
discretion in determining the size and composition of performance awards granted
to a participant. The period over which performance is to be measured (a
"performance cycle") shall commence on the date specified by the Committee and
shall end on the last day of a fiscal year specified by the Committee. A
performance award shall be paid no later than the 15th day of the third month
following the completion of a performance cycle. Performance awards may include
(i) specific dollar-value target awards (ii) performance units, the value of
each such unit being determined by the Committee at the time of issuance, and/or
(iii) performance Shares, the value of each such Share being equal to the Fair
Market Value of a share of Common Stock.

          The value of each performance award may be fixed or it may be
permitted to fluctuate based on a performance factor (e.g., return on equity)
selected by the Committee.

          The Committee shall establish performance goals and objectives for
each performance cycle on the basis of such criteria and objectives as the
Committee may select from time to time, including, without limitation, the
performance of the participant, the Company, one or more of its Subsidiaries or
divisions or any combination of the foregoing. During any performance cycle, the
Committee shall have the authority to adjust the performance goals and
objectives for such cycle for such reasons as it deems equitable.

                                       12
<Page>

          The Committee shall determine the portion of each performance award
that is earned by a participant on the basis of the Company's performance over
the performance cycle in relation to the performance goals for such cycle. The
earned portion of a performance award may be paid out in Shares, cash, Other
Company Securities, or any combination thereof, as the Committee may determine.

          A participant must be a director, officer or employee of, or otherwise
perform services for, the Company or its Subsidiaries at the end of the
performance cycle in order to be entitled to payment of a performance award
issued in respect of such cycle; provided, however, that except as otherwise
determined by the Committee, if a participant ceases to be a director, officer
or employee of, or to otherwise perform services for, the Company and its
Subsidiaries upon his or her death, Retirement, or Disability prior to the end
of the performance cycle, the participant shall earn a proportionate portion of
the performance award based upon the elapsed portion of the performance cycle
and the Company's performance over that portion of such cycle.

          In the event of a Change in Control, a participant shall earn no less
than the portion of the performance award that the participant would have earned
if the applicable performance cycle(s) had terminated as of the date of the
Change in Control. Such performance award shall be paid no later than two and
one-half months after the last day of the tax year in which such Change in
Control occurred (or in the event that such Change in Control causes the tax
year to end, no later than two and one-half months after the closing of such
Change in Control).

11.  WITHHOLDING TAXES.

          (a)  PARTICIPANT ELECTION. Unless otherwise determined by the
Committee, a participant may elect to deliver shares of Common Stock (or have
the Company withhold shares acquired upon exercise of an option or deliverable
upon grant or vesting of restricted stock, as the case may be) to satisfy, in
whole or in part, the amount the Company is required to withhold for taxes in
connection with the exercise of an option or the delivery of restricted stock
upon grant or vesting, as the case may be. Such election must be made on or
before the date the amount of tax to be withheld is determined. Once made, the
election shall be irrevocable. The fair market value of the shares to be
withheld or delivered will be the Fair Market Value as of the date the amount of
tax to be withheld is determined. In the event a participant elects to deliver
or have the Company withhold shares of Common Stock pursuant to this Section
11(a), such delivery or withholding must be made subject to the conditions and
pursuant to the procedures set forth in Section 6(b) with respect to the
delivery or withholding of Common Stock in payment of the exercise price of
options.

          (b)  COMPANY REQUIREMENT. The Company may require, as a condition to
any grant or exercise under the Plan or to the delivery of certificates for
Shares issued hereunder, that the grantee make provision for the payment to the
Company, either pursuant to Section 11(a) or this Section 11(b), of federal,
state or local taxes of any kind required by law to be withheld with respect to
any grant or delivery of Shares. The Company, to the extent permitted or
required by law, shall have the right to deduct from any payment of any kind
(including salary or bonus)

                                       13
<Page>

otherwise due to a grantee, an amount equal to any federal, state or local taxes
of any kind required by law to be withheld with respect to any grant or delivery
of Shares under the Plan.

12.  WRITTEN AGREEMENT; VESTING.

          Unless the Committee determines otherwise, each employee to whom a
grant is made under the Plan shall enter into a written agreement with the
Company that shall contain such provisions, including without limitation vesting
requirements, consistent with the provisions of the Plan, as may be approved by
the Committee. Unless the Committee determines otherwise and except as otherwise
provided in Sections 6, 7, 8, 9 and 10 in connection with a Change in Control or
certain occurrences of termination, no grant under this Plan may be exercised,
and no restrictions relating thereto may lapse, within six months of the date
such grant is made.

13.  TRANSFERABILITY.

          Unless the Committee determines otherwise, no award granted under the
Plan shall be transferable by a participant other than by will or the laws of
descent and distribution or to a participant's Family Member by gift or a
qualified domestic relations order as defined by the Code. Unless the Committee
determines otherwise, an option may be exercised only by the optionee or grantee
thereof; by his or her Family Member if such person has acquired the option by
gift or qualified domestic relations order; by the executor or administrator of
the estate of any of the foregoing or any person to whom the option is
transferred by will or the laws of descent and distribution; or by the guardian
or legal representative of any of the foregoing; provided that Incentive Stock
Options may be exercised by any Family Member, guardian or legal representative
only if permitted by the Code and any regulations thereunder. All provisions of
this Plan shall in any event continue to apply to any award granted under the
Plan and transferred as permitted by this Section 13, and any transferee of any
such award shall be bound by all provisions of this Plan as and to the same
extent as the applicable original grantee.

14.  LISTING, REGISTRATION AND QUALIFICATION.

          If the Committee determines that the listing, registration or
qualification upon any securities exchange or under any law of Shares subject to
any option, performance award, restricted stock unit, deferred stock unit or
restricted stock grant is necessary or desirable as a condition of, or in
connection with, the granting of same or the issue or purchase of Shares
thereunder, no such option may be exercised in whole or in part, no such
performance award may be paid out, and no Shares may be issued, unless such
listing, registration or qualification is effected free of any conditions not
acceptable to the Committee.

15.  TRANSFER OF EMPLOYEE.

          The transfer of an employee from the Company to a Subsidiary, from a
Subsidiary to the Company, or from one Subsidiary to another shall not be
considered a termination of employment; nor shall it be considered a termination
of employment if an employee is placed on military or sick leave or such other
leave of absence which is considered by the Committee as continuing intact the
employment relationship.

                                       14
<Page>

16.  ADJUSTMENTS.

          In the event of a reorganization, recapitalization, stock split, stock
dividend, combination of shares, merger, consolidation, distribution of assets,
or any other change in the corporate structure or shares of the Company, the
Committee shall make such adjustment as it deems appropriate in the number and
kind of Shares or other property available for issuance under the Plan
(including, without limitation, the total number of Shares available for
issuance under the Plan pursuant to Section 4), in the number and kind of
options, Shares, restricted stock units, deferred stock units or other property
covered by grants previously made under the Plan, and in the exercise price of
outstanding options; provided, however, that the Committee shall not be required
to make any adjustment that would (i) require the inclusion of any compensation
deferred pursuant to provisions of the Plan (or an award thereunder) in a
participant's gross income pursuant to Section 409A of the Code and the
regulations issued thereunder from time to time and/or (ii) cause any award made
pursuant to the Plan to be treated as providing for the deferral of compensation
pursuant to such Code section and regulations. Any such adjustment shall be
final, conclusive and binding for all purposes of the Plan. In the event of any
merger, consolidation or other reorganization in which the Company is not the
surviving or continuing corporation or in which a Change in Control is to occur,
all of the Company's obligations regarding awards that were granted hereunder
and that are outstanding on the date of such event shall, on such terms as may
be approved by the Committee prior to such event, be (a) canceled in exchange
for cash or other property (but, with respect to vested deferred stock units,
only if such merger, consolidation, other reorganization, or Change in Control
constitutes a "change in ownership or control" of the Company or a "change in
the ownership of a substantial portion" of the Company's assets, as determined
pursuant to regulations issued under Section 409A(a)(2)(A)(v) of the Code) or
(b) assumed by the surviving or continuing corporation.

          Without limitation of the foregoing, in connection with any
transaction of the type specified by clause (iii) of the definition of a Change
in Control in Section 2(c), the Committee may, in its discretion, (i) cancel any
or all outstanding options under the Plan in consideration for payment to the
holders thereof of an amount equal to the portion of the consideration that
would have been payable to such holders pursuant to such transaction if their
options had been fully exercised immediately prior to such transaction, less the
aggregate exercise price that would have been payable therefor, or (ii) if the
amount that would have been payable to the option holders pursuant to such
transaction if their options had been fully exercised immediately prior thereto
would be equal to or less than the aggregate exercise price that would have been
payable therefor, cancel any or all such options for no consideration or payment
of any kind. Payment of any amount payable pursuant to the preceding sentence
may be made in cash or, in the event that the consideration to be received in
such transaction includes securities or other property, in cash and/or
securities or other property in the Committee's discretion.

17.  AMENDMENT AND TERMINATION OF THE PLAN.

          The Board of Directors or the Committee, without approval of the
stockholders, may amend or terminate the Plan, except that no amendment shall
become effective without prior approval of the stockholders of the Company if
stockholder approval would be required by

                                       15
<Page>

applicable law or regulations or by any listing requirement of the principal
stock exchange on which the Common Stock is then listed.

          Notwithstanding any other provisions of the Plan, and in addition to
the powers of amendment set forth in this Section 17 and Section 18 hereof or
otherwise, the provisions hereof and the provisions of any award made hereunder
may be amended unilaterally by the Committee from time to time to the extent
necessary (and only to the extent necessary) to prevent the implementation,
application or existence (as the case may be) of any such provision from (i)
requiring the inclusion of any compensation deferred pursuant to the provisions
of the Plan (or an award thereunder) in a participant's gross income pursuant to
section 409A of the Code, and the regulations issued thereunder from time to
time and/or (ii) inadvertently causing any award hereunder to be treated as
providing for the deferral of compensation pursuant to such Code section and
regulations.

18.  AMENDMENT OR SUBSTITUTION OF AWARDS UNDER THE PLAN.

          The terms of any outstanding award under the Plan may be amended from
time to time by the Committee in its discretion in any manner that it deems
appropriate, including, but not limited to, acceleration of the date of exercise
of any award and/or payments thereunder or of the date of lapse of restrictions
on Shares (but only to the extent permitted by regulations issued under Section
409A(a)(3) of the Code); provided that, except as otherwise provided in Section
16, no such amendment shall adversely affect in a material manner any right of a
participant under the award without his or her written consent, and provided
further that the Committee shall not reduce the exercise price of any options
awarded under the Plan without approval of the stockholders of the Company. The
Committee may, in its discretion, permit holders of awards under the Plan to
surrender outstanding awards in order to exercise or realize rights under other
awards, or in exchange for the grant of new awards, or require holders of awards
to surrender outstanding awards as a condition precedent to the grant of new
awards under the Plan, but only if such surrender, exercise, realization,
exchange, or grant (a) would not constitute a distribution of deferred
compensation for purposes of Section 409A(a)(3) of the Code or (b) constitutes a
distribution of deferred compensation that is permitted under regulations issued
pursuant to Section 409A(a)(3) of the Code.

19.  COMMENCEMENT DATE; TERMINATION DATE.

          The date of commencement of the Plan shall be the date on which the
Company's Registration Statement on Form S-1 (File No. 333-117700) is declared
effective by the Securities and Exchange Commission.

          Unless previously terminated upon the adoption of a resolution of the
Board terminating the Plan, the Plan shall terminate at the close of business on
the ten year anniversary of the date on which the Company's Registration
Statement on Form S-1 (File No. 333-117700) is declared effective by the
Securities and Exchange Commission. No termination of the Plan shall materially
and adversely affect any of the rights or obligations of any person, without his
or her written consent, under any grant of options or other incentives
theretofore granted under the Plan.

                                       16
<Page>

20.  SEVERABILITY. Whenever possible, each provision of the Plan shall be
interpreted in such manner as to be effective and valid under applicable law,
but if any provision of the Plan is held to be prohibited by or invalid under
applicable law, such provision shall be ineffective only to the extent of such
prohibition or invalidity, without invalidating the remainder of the Plan.

21.  GOVERNING LAW. The Plan shall be governed by the corporate laws of the
State of Delaware, without giving effect to any choice of law provisions that
might otherwise refer construction or interpretation of the Plan to the
substantive law of another jurisdiction.

                                       17

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