Document:

EXHIBIT 10.1

                                                                  EXECUTION COPY

                               AMENDMENT NO. 4 TO
                     REVOLVING CREDIT AND SECURITY AGREEMENT

                                      among

                              CIT SOUTHEAST, INC.,
                            UNIFORCE SERVICES, INC.,
                           BRENTWOOD OF CANADA, INC.,
                         BRENTWOOD SERVICE GROUP, INC.,
                       CLINICAL LABFORCE OF AMERICA, INC.,
                    COMFORCE INFORMATION TECHNOLOGIES, INC.,
                            COMFORCE TECHNICAL, LLC,
                       COMFORCE TECHNICAL SERVICES, INC.,
                             COMFORCE TELECOM, INC.,
                             CTS OF WASHINGTON, LLC,
                                 GERRI G., INC.,
                       LABFORCE SERVICES OF AMERICA, INC.,
                       PRO CLINICAL SUPPORT SERVICES, LLC,
                              PRO UNLIMITED, INC.,
                            PRO UNLIMITED MPS, INC.,
                TEMPORARY HELP INDUSTRY SERVICING COMPANY, INC.,
                        UNIFORCE STAFFING SERVICES, INC.,
                               SUMTEC CORPORATION,
                             THISCO OF CANADA, INC.
                                 (as Borrowers)

                                       and

                            COMFORCE OPERATING, INC.
                              (as Borrowing Agent)

                                       and

                              COMFORCE CORPORATION
                                 (as Guarantor)

                                       and

                         PNC BANK, NATIONAL ASSOCIATION
                      (as Administrative Agent and Lender)

                                       and

                         THE OTHER LENDERS PARTY HERETO

                               as of May 13, 2005

<PAGE>

                               AMENDMENT NO. 4 TO
                     REVOLVING CREDIT AND SECURITY AGREEMENT

     This  Amendment  No. 4 to  Revolving  Credit and Security  Agreement  (this
"Amendment")  is  entered  into  as of  May  13,  2005,  by and  among  COMFORCE
Operating, Inc., a corporation organized under the laws of the State of Delaware
("COI"),  CIT  Southeast,  Inc., a corporation  organized  under the laws of the
State of New York ("CIT  Southeast"),  Uniforce  Services,  Inc., a  corporation
organized under the laws of the State of New York ("USI"),  Brentwood of Canada,
Inc., a corporation  organized under the laws of the State of New York ("BOCI"),
Brentwood  Service Group,  Inc., a corporation  organized  under the laws of the
State  of  New  York  ("Brentwood"),  Clinical  Labforce  of  America,  Inc.,  a
corporation organized under the laws of the State of New York ("CLOA"), COMFORCE
Information  Technologies,  Inc., a corporation  organized under the laws of the
State of New York ("CIT"),  COMFORCE Technical, LLC, a limited liability company
organized under the laws of the State of New York ("CTLLC"),  COMFORCE Technical
Services,  Inc., a corporation organized under the laws of the State of Delaware
("CTS"),  COMFORCE Telecom,  Inc., a corporation organized under the laws of the
State of Delaware ("CTI"),  CTS of Washington,  LLC, a limited liability company
formed  under the laws of the State of New York  ("CTSLLC"),  Gerri G.,  Inc., a
corporation  organized  under  the  laws of the  State  of New  York  ("Gerri"),
Labforce  Services of America,  Inc., a corporation  organized under the laws of
the State of New York ("LSOA"),  PrO Clinical Support  Services,  LLC, a limited
liability  company  organized  under the laws of the State of New York ("PCSS"),
PrO Unlimited,  Inc., a corporation organized under the laws of the State of New
York ("PUI"), PrO Unlimited MPS, Inc., a corporation organized under the laws of
the State of New York  ("PUMPS"),  Temporary  Help Industry  Servicing  Company,
Inc.,  a  corporation  organized  under  the  laws  of the  State  of  New  York
("THISCI"),  Uniforce Staffing Services, Inc., a corporation organized under the
laws of the  State of New  York  ("USSI"),  Sumtec  Corporation,  a  corporation
organized under the laws of the State of Delaware ("Sumtec"),  Thisco of Canada,
Inc., a corporation organized under the laws of the State of New York ("Thisco")
(CIT Southeast, USI, BOCI, Brentwood, CLOA, CIT, CTLLC, CTS, CTI, CTSLLC, Gerri,
LSOA,  PCSS, PUI, PUMPS,  THISCI,  USSI,  Sumtec and Thisco,  collectively,  the
"Borrowers"),   Comforce  Corporation,  a  Delaware  corporation,  as  guarantor
("Corp."),  PNC Bank, National  Association ("PNC"), as Administrative Agent for
the Lenders (as defined below) (PNC, in such capacity,  "Administrative  Agent")
and as Lender,  Merrill  Lynch  Capital,  a Division of Merrill  Lynch  Business
Financial Services Inc. ("Merrill") and JPMorgan Chase Bank, N.A. ("Chase"),  as
Co-Syndication  Agents and as Lenders,  and Webster Business Credit  Corporation
(f/k/a  Whitehall  Business Credit  Corporation)  ("Webster"),  as Documentation
Agent and as Lender.  All terms used herein and not otherwise defined shall have
the meanings ascribed to them in the Credit Agreement (as hereinafter defined).

     WHEREAS, the Borrowers,  COI, Webster,  Chase, Merrill, the other financial
institutions   which  are  now  or  which  hereafter   become  a  party  thereto
(collectively,  the "Lenders" and  individually,  a "Lender") and PNC, as Lender
and as  Administrative  Agent,  entered into that certain  Revolving  Credit and
Security  Agreement,  dated as of June 25,  2003,  as  amended by the Waiver and
Amendment No. 1
<PAGE>

to Revolving  Credit and  Security  Agreement,  dated as of March 17, 2004,  the
Amendment  No.  2 to  Revolving  Credit  and  Security  Agreement,  dated  as of
September 29, 2004,  and the  Amendment  No. 3 to Revolving  Credit and Security
Agreement,  dated as of  February  3, 2005 (as the same may be from time to time
further amended,  extended,  restated,  supplemented or otherwise modified,  the
"Credit  Agreement"),  pursuant  to which  the  Lenders  made  available  to the
Borrowers loans in an aggregate principal amount of up to $85,000,000; and

     WHEREAS,  Merrill  and Chase  desire to be named as  Co-Syndication  Agents
under the Credit Agreement;

     WHEREAS,  the Borrowers  have  requested  that the Lenders amend the Credit
Agreement;

     NOW,  THEREFORE,  in  consideration of the foregoing and for other good and
valid   consideration,   the  receipt  and   sufficiency  of  which  are  hereby
acknowledged, the parties hereto, intending to be legally bound, hereby agree as
follows:

     I. AMENDMENT

     A. The introductory  paragraph of the Credit Agreement is hereby amended by
amending   and   restating   the  language   following  ".  .  .   collectively,
"Borrowers")," with the following:

     "PNC Bank, National  Association  ("PNC"), as Administrative  Agent for the
     Lenders  (PNC,  in such  capacity,  "Administrative  Agent") and as Lender,
     Merrill  Lynch  Capital,  a Division of Merrill  Lynch  Business  Financial
     Services Inc.  ("Merrill")  and JPMorgan  Chase Bank,  N.A.  ("Chase"),  as
     Co-Syndication Agents for the Lenders (Merrill and Chase, in such capacity,
     "Co-Syndication   Agents")  and  as  Lenders,   Webster   Business   Credit
     Corporation (f/k/a Whitehall Business Credit Corporation) ("Whitehall"), as
     Documentation   Agent  for  the  Lenders   (Webster,   in  such   capacity,
     "Documentation  Agent") and as Lender, and the other financial institutions
     which are now or which hereafter become a party hereto  (collectively,  the
     "Lenders" and individually, a "Lender")."

     B. Section 1.2 of the Credit  Agreement  is hereby  amended by amending and
restating the definition of "Adjustment Date" in its entirety as follows:

     "`Adjustment  Date' shall  mean,  commencing  as of  December  31, 2004 and
thereafter, (i) with respect to each fiscal quarter ended December 31, the first
day of March in the next  succeeding  fiscal year, and (ii) with respect to each
fiscal  quarter  ended March 31, June 30 and  September 30, the first day of the
succeeding June, September and December, respectively."

     C. Section 1.2 of the Credit  Agreement  is hereby  amended by amending and
restating the definition of "Applicable Margin" in its entirety as follows:

                                       2
<PAGE>

     "`Applicable  Margin' shall mean, at any  Adjustment  Date,  the applicable
percentage set forth below opposite the Level of Fixed Charge  Coverage Ratio as
of such  Adjustment  Date  (as  reflected,  except  as  provided  below,  in the
calculations  delivered  pursuant to  subsection  9.8 hereof or, with respect to
clause (i) of the definition of Adjustment Date, subsection 9.7 hereof):
<TABLE>
<CAPTION>

                         Level of Fixed Charge Coverage Ratio                        Applicable Margin
         ---------------------------------------------------------------------

<S>     <C>          <C>                                                                   <C>
         Level I:    Fixed Charge Coverage Ratio is equal to or less than
                     1.05:1.00                                                             2.50
         Level II:   Fixed Charge Coverage Ratio is greater than 1.05:1.00
                     but less than or equal to 1.30:1.00                                   2.25
         Level III:  Fixed Charge Coverage Ratio is greater than 1.30:1.00
                     but less than or equal to 1.50:1.00                                   2.00
         Level IV:   Fixed Charge Coverage Ratio is greater than 1.50:1.00                 1.75
</TABLE>

; provided that (a) the Applicable  Margin  determined  for any Adjustment  Date
shall remain in effect until a  subsequent  Adjustment  Date for which the Fixed
Charge  Coverage  Ratio falls  within a different  Level,  (b) if the  financial
statements (and all required  covenant  calculations)  for any fiscal period are
not delivered by the date due pursuant to subsections 9.7 or 9.8, the Applicable
Margin shall be that set forth above opposite Level I until the next  subsequent
Adjustment  Date, and (c) during the  continuance  of any Event of Default,  the
Applicable  Margin  shall  at  no  time  be  less  than  the  Applicable  Margin
immediately  prior to such Event of  Default  notwithstanding  the Fixed  Charge
Coverage Ratio during such period."

     D. The proviso of the first  sentence of Section 4.10 is hereby  amended by
amending and restating such language in its entirety as follows:

     "provided  that any more than two (2) audits per calendar year performed by
     the  Administrative  Agent or any  Lender  shall  be at the  sole  cost and
     expense of the Lenders (other than (a) any and all audits  performed at any
     time following and during the  continuance  of an Event of Default,  or (b)
     one audit in  connection  with each  Permitted  Acquisition,  each of which
     shall be at the sole cost and expense of Borrowers)."

     E. The last  sentence  of Section  14.2 of the Credit  Agreement  is hereby
amended and restating in its entirety as follows:

     "Documentation Agent and Co-Syndication  Agents, solely in their respective
     capacities as such, shall have no duties,  responsibilities or rights under
     this Agreement or any Other Document."

                                       3
<PAGE>

     II. CONDITIONS PRECEDENT

     This  Amendment  shall become  effective as of the date hereof,  subject to
satisfaction of each of the following conditions:

     A. The Borrowers,  COI and Corp. shall have delivered to the Administrative
Agent a fully executed original of this Amendment.

     B. The representations  and warranties  contained in Article V hereof shall
be true and correct as of the date hereof and as of the date of the satisfaction
of each of the conditions contained in this Article II.

     III. PLEDGORS CONSENT

     The undersigned Pledgors, in their respective capacity as Pledgors,  hereby
consent  to  this  Amendment  and  to  the   consummation  of  the  transactions
contemplated  hereby and hereby  restate,  ratify and confirm  their  respective
pledge in support of the Obligations  pursuant to the terms of their  respective
Pledge Agreements (as defined in the Credit Agreement),  in all respects,  after
giving effect to the  amendments  set forth herein and the  consummation  of the
transactions contemplated hereby. Although each Pledgor has been informed of the
matters set forth herein and has  acknowledged  and consented to the same,  each
Pledgor  understands  and agrees that neither the  Administrative  Agent nor any
Lender has any obligation to inform Pledgors of such matters in the future or to
seek any Pledgor's acknowledgment, consent or agreement to future amendments and
nothing herein shall create such duty.

     IV. GUARANTORS' CONSENT

     The undersigned  Guarantors,  in their  respective  capacity as Guarantors,
hereby consent to this  Amendment and to the  consummation  of the  transactions
contemplated hereby and each of them hereby restates,  ratifies and confirms its
respective  joint and several  guaranty of the prompt payment of the Obligations
of the Borrowers pursuant to its Guaranty, in all respects,  after giving effect
to the  amendments  set forth herein and the  consummation  of the  transactions
contemplated  hereby.  Although each  Guarantor has been informed of the matters
set forth herein and has  acknowledged and consented to the same, each Guarantor
understands and agrees that neither the Administrative  Agent nor any Lender has
any obligation to inform such Guarantor of such matters in the future or to seek
such Guarantor's  acknowledgment,  consent or agreement to future amendments and
nothing herein shall create such duty.

     V. REPRESENTATIONS AND WARRANTIES

     Each Borrower,  COI and Corp.  hereby  represent and warrant to the Lenders
and Administrative Agent as follows:

     A. The  execution,  delivery  and  performance  by each such Person of this
Amendment and the transactions  contemplated hereby (a) are within such Person's
corporate or limited  liability  company power; (b) have been duly authorized by
all

                                       4
<PAGE>

corporate or limited liability company or other necessary action; (c) are not in
contravention of any provision of such Person's  certificate of incorporation or
formation,  operating agreement, bylaws or other documents of organization;  (d)
do not violate any law or regulation, or any order or decree of any Governmental
Body;  (e) do not  conflict  with or result in the  breach  or  termination  of,
constitute  a default  under or  accelerate  any  performance  required  by, any
indenture,  mortgage,  deed of trust,  lease,  agreement or other  instrument to
which  such  Person is a party or by which such  Person or any of such  Person's
property is bound;  (f) do not result in the creation or  imposition of any Lien
upon any of its property (other than Liens in favor of Administrative Agent) and
(g) do not require the consent or approval of any Governmental Body or any other
person.

     B. This  Amendment has been duly  executed and delivered by each  signatory
hereto (other than the Administrative Agent and the Lenders) and constitutes the
legal,  valid and binding  obligation of such Person,  enforceable  against such
Person in  accordance  with its  respective  terms except as the  enforceability
hereof may be limited by bankruptcy, insolvency, reorganization,  moratorium and
other laws affecting creditors' rights and remedies in general.

     C.  Each  representation  and  warranty  of each  Borrower,  COI and  Corp.
contained in the Credit Agreement and the Other Documents is true and correct on
the date  hereof in all  material  respects  and will be true and correct in all
material  respects as if made immediately  after giving effect to this Amendment
(except to the extent  such  representation  or  warranty  relates to an earlier
date, in which case such  representation and warranty is true and correct in all
material respects on and as of such earlier date).

     D. No Default or Event of Default has occurred and is continuing  under the
Credit Agreement or any of the Other Documents.

     VI. MISCELLANEOUS

     A. Each Borrower, COI and Corp. acknowledges and confirms to Administrative
Agent and the Lenders that the Credit Agreement and each Other Document to which
it is a party  shall  remain in full  force and  effect  and shall  continue  to
evidence, secure or otherwise guarantee and support the obligations owing by the
Borrowers,  COI and  Corp.  to the  Administrative  Agent and  Lenders  pursuant
thereto,  and, after giving effect to this  Amendment,  each  Borrower,  COI and
Corp. hereby ratifies and affirms each of the foregoing documents to which it is
a party.

     B.  Each  Borrower,  COI  and  Corp.  acknowledges  and  reaffirms  to  the
Administrative  Agent  and  the  Lenders  that  (i)  the  Liens  granted  to the
Administrative  Agent for the benefit of the Lenders under the Credit  Agreement
and the Other  Documents  remain in full force and effect and shall  continue to
secure the obligations of the Borrowers,  COI and Corp. arising under the Credit
Agreement and the Other Documents, and (ii) the validity, perfection or priority
of the  Liens  will  not be  impaired  by the  execution  and  delivery  of this
Amendment.

                                       5
<PAGE>

     C. Each  Borrower  acknowledges  and agrees  that no Lender  shall waive or
shall be deemed to have  waived any of its rights or  remedies  under the Credit
Agreement or any of the Other  Documents  which  documents  shall remain in full
force and effect in accordance with their terms.

     D.  Borrowers  shall be  responsible  for the prompt  payment of and,  upon
demand,  shall promptly reimburse  Administrative Agent for, all of the Lenders'
and  Administrative  Agent's  out-of-pocket  costs and  expenses  related to the
preparation,   negotiation,   execution  and   enforcement   of  this  Amendment
(including,  without limitation,  the reasonable fees and disbursements of legal
counsel to Administrative Agent).

     E. This Amendment may be executed in any number of counterparts,  including
by telecopy, and by the various parties hereto on separate counterparts, each of
which when so executed  and  delivered  shall be an  original,  but all of which
shall together constitute one and the same instrument.

F. THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL
BE CONSTRUED IN ACCORDANCE WITH AND BE GOVERNED BY THE INTERNAL LAWS OF THE
STATE OF NEW YORK WITHOUT REGARD TO ITS CONFLICTS OF LAWS PRINCIPLES AND SHALL
BE BINDING UPON AND INURE TO THE BENEFIT OF THE SUCCESSORS AND ASSIGNS OF THE
PARTIES HERETO.

                                      * * *

                                       6
<PAGE>

     IN WITNESS  WHEREOF,  each of the parties  hereto,  by their  officers duly
authorized, has executed this Amendment as of the date first above written.

                                   COMFORCE OPERATING, INC., as Borrowing Agent,
                                   Pledgor and Guarantor

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

                                   UNIFORCE SERVICES, INC.

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

                                   BRENTWOOD OF CANADA, INC.

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

                                   BRENTWOOD SERVICE GROUP, INC.
                                   By:
                                      ------------------------------------------
                                      Name:
                                      Title:

                                   CIT SOUTHEAST, INC.

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

                                   COMFORCE TECHNICAL, LLC
                                   By: COMFORCE Technical Services, Inc.,
                                          Its Sole Member

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

                                       7
<PAGE>

                                   COMFORCE INFORMATION TECHNOLOGIES, INC.

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

                                   PRO UNLIMITED MPS, INC.

                                   By:
                                      ------------------------------------------
                                      Name:
                                      Title:
                                   COMFORCE TECHNICAL SERVICES, INC.

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

                                   COMFORCE TELECOM, INC.

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

                                   GERRI G., INC.

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

                                   CLINICAL LABFORCE OF AMERICA, INC.

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

                                       8
<PAGE>

                                   LABFORCE SERVICES OF AMERICA, INC.

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

                                   PRO UNLIMITED, INC.

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

                                   TEMPORARY HELP INDUSTRY
                                   SERVICING COMPANY, INC.

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

                                   UNIFORCE STAFFING SERVICES, INC.

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

                                   SUMTEC CORPORATION

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

                                       9
<PAGE>

                                   THISCO OF CANADA, INC.

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

                                   CTS OF WASHINGTON, LLC
                                   By: COMFORCE Technical Services, Inc.,
                                          Its Sole Member

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

                                   PRO CLINICAL SUPPORT
                                   SERVICES, LLC
                                   By: PrO Unlimited, Inc.,
                                          Its Sole Member

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

Consented and Agreed to:

COMFORCE CORPORATION, as
Guarantor

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

                                       10
<PAGE>

                                   PNC BANK, NATIONAL
                                   ASSOCIATION, as Administrative Agent

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

                                   MERRILL LYNCH CAPITAL, A DIVISION OF MERRILL
                                   LYNCH BUSINESS FINANCIAL SERVICES INC.,
                                   as Co-Syndication Agent and Lender

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

                                   JPMORGAN CHASE BANK, N.A., as Co-
                                   Syndication Agent and Lender

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

                                   WEBSTER BUSINESS CREDIT
                                   CORPORATION, as Documentation
                                   Agent and Lender

                                   By:
                                      ------------------------------------------
                                      Name:Exhibit 10.1

- 1 -

THE GILLETTE COMPANY 

2004 Long-Term Incentive Plan (“the Plan”) 

TERMS AND CONDITIONS OF OPTION AWARDS FOR James M. Kilts (“Optionee”)

Effective for awards granted on June 16, 2005 

	
          1)	
          Grant Date. The
          Grant Date of this option award is June 16, 2005, (“The Grant Date”). 
	 
	
          2)	
          Option Price. The Option Price is the Fair Market Value on the Grant Date. The Fair Market Value is the average between the high and low price of the Company's common stock, $1 par value, as
reported by the New York Stock Exchange.  
	 
	
          3)	
          Option Term. The term of an option award is ten years. The award expires automatically on the tenth anniversary of the Grant Date.   
	 
	
          4)	
          Type of Options. Shares covered by the award may be designated by the Compensation Committee as incentive stock option (ISO) as defined in the Plan, the Plan Prospectus and the applicable
provisions of the Internal Revenue Code. All other options granted under this award are non-qualified stock options.      
	 
	
          5)	
          Methods of Exercise. Shares purchased through option exercises may be paid for with cash, by financing through Merrill Lynch, with already owned shares of Company stock, or through a successive
exercise). Further details on these methods for exercising options are contained in the plan Prospectus.  
	 
	
          6)	
          Vesting and Exercise. Options
          become exercisable ("vest") ratably over a three-year period beginning on the first, second and third anniversaries of the Grant Date except to the extent provided
below. During employment, awards may be exercised by purchasing, from time to time during the period when a segment first becomes exercisable through the end of the Option Term, all or a portion of the option shares (however no less than 100 shares
for any purchase) at the Option Price. If no longer employed by the Company different vesting and exercise periods as provided in the Plan, and as modified by the Amended and Restated Employment Agreement (the “Employment Agreement”)
dated as of December 23, 2004, by and between the Optionee and the Company, as
amended by Amendment No. 1 thereto dated January 27, 2005, shall apply. Notwithstanding
the foregoing, whether or not employed by the Company, in the event of consummation
of the Merger (as defined in paragraph 10), the Optionee agrees not to exercise
this option, in whole or in part, prior to the 18 th month anniversary of the consummation of the
Merger.   
	 
	
          7)	
          Agreement not to Compete.
          Except as provided below, as a condition to the grant of this option,
          the Optionee must agree in writing to the following non-competition
          provisions: During employment and for a period of three years thereafter,
          optionee will not compete with the Company or any subsidiary as specifically
          defined in the Plan. Upon completion of the Merger, in lieu of the
          foregoing, the Optionee’s non-competition obligations shall
be        
	 

     The date of this Prospectus is June 16, 2005. 

     This Document constitutes part of a Prospectus covering securities that have been registered 

under the Securities Act 1933. 

     

     - 2 -

	 	 
	 	governed solely by Section 17c of the Employment
                    Agreement shall apply.
	 	 
	8)	Confidentiality, Non-Solicitation
                         and Non-Defamation.
                         During employment and following termination of employment,
                         Optionee will not disclose or use Company confidential
                         information, will not defame or disparage the Company,
                         not solicit Company employees and will promptly disclose
                         and turn over all Company inventions and improvements,
          as specifically defined in the Plan.
	 	 
	9.	Company.
                    The term Company shall refer to The Gillette Company and
                    its subsidiaries prior to the consummation of a merger (the “Merger”)
                    of The Gillette Company and The Procter & Gamble Company
                    pursuant to a Merger Agreement between them dated January
                    27, 2005. The term Company shall refer to The Procter & Gamble
                    Company and its subsidiaries as of the Effective Time of
                    a merger of The Gillette Company and The Procter & Gamble
                    Company pursuant to a Merger Agreement between them dated
          January 27, 2005. 
	 	 
	10.	Except as otherwise provided under the
                    terms of the Employment Agreement, the terms and conditions
          of the Plan are incorporated herein. 
	 	 

 

 

 

     The date of this Prospectus is June 16, 2005. 

     This Document constitutes part of a Prospectus covering securities that have been 

registered under the Securities Act 1933. 

- 1 -

          THE GILLETTE
COMPANY 

2004 Long-Term Incentive Plan (“the Plan”) 

     TERMS
AND CONDITIONS OF OPTION AWARDS FOR KEY EMPLOYEES

     Effective for awards granted on June 16, 2005 

	
          1)	
          Grant Date. The
          Grant Date of this option award is June 16, 2005, (“The Grant Date”). 
	 
	
          2)	
          Option Price. The Option Price is the Fair Market Value on the Grant Date. The Fair Market Value is the average between the high and low price of the Company's common stock, $1 par value, as
reported by the New York Stock Exchange.  
	 
	
          3)	
          Option Term. The term of an option award is ten years. The award expires automatically on the tenth anniversary of the Grant Date.   
	 
	
          4)	
          Type of Options (US based employees only). Shares covered by the award may be designated by the Compensation Committee as incentive stock option (ISO) as defined in the Plan, the Plan Prospectus
and the applicable provisions of the Internal Revenue Code. All other options granted under this award are non-qualified stock options.   
	 
	
          5)	
          Methods of Exercise. Shares purchased through option exercises may be paid for with cash, by financing through Merrill Lynch, with already owned shares of Company stock, through a successive
exercise or via the cashless exercise method (not available to Executive Officers).       Further
details on these methods for exercising options are contained in the plan Prospectus. 
	 	 
	
          6)	
          Vesting and Exercise. Options
          become exercisable ("vest") ratably over a three-year period beginning
          on the first, second and third anniversaries of the Grant Date. During
          employment, awards may be exercised by purchasing, from time to time
          during the period when a segment first becomes exercisable through
          the end of the Option Term, all or a portion of the option shares (however
          no less than 100 shares for any purchase) at the Option Price. If no
          longer employed by the Company different vesting and exercise periods
          as described below and in the Plan and Plan Prospectus apply.   
	 
	
          7)	
          Exercise Periods upon Termination of Employment. If the employment of an Optionee terminates for any reason (unless discharged for Cause), this award may be exercised, depending on the
circumstances, as provided below, however in no event may an option be exercised after the Option Term:   

	Voluntary Resignation without Good Reason. If termination of employment is voluntary on the part of the Optionee, exercisable options must be exercised within 30 days after the date of termination of employment. Unexercisable options are forfeited.

    

  
	Involuntary Termination (without Cause) or Special Separation or Termination for Good Reason. If termination of employment is involuntary on the part of the Optionee or a

The date of this Prospectus is June 16, 2005.

  This Document constitutes part of a Prospectus covering
  securities that have been registered 

  under the Securities Act 1933. 

     

          - 2 -

Special Separation or the Optionee terminates for Good Reason, all unvested segments of the option award will vest immediately and all unexercised portions of the option award may be exercised at any time within the period ending
five years  after the date of termination of employment. If not exercised within the permitted period, the option shall automatically expire. 

	
Disability. If termination of employment is on account
of the Optionee’s total and
permanent disability under a Company sponsored program, all unvested segments of
theoption award will vest immediately and all unexercised portions of the option
award may be exercised within the the Option Term.

	
Retirement. If at termination of employment the optionee is
eligible to retire as defined below, all unvested segments of the award vest immediately and the option may
be exercised over the remaining period of the Option Term, provided that an option which was
designated at grant as an incentive stock option shall cease to qualify as an incentive stock
option under the Internal Revenue Code if not exercised within three months after the
retirement date. For the purposes of the Plan, an Optionee’s termination of employment is
on account of “retirement” if either (A) at the time the Participant leaves the employ of the
Company and its subsidiaries, the Participant qualifies for an early or normal retirement
pension under the terms of a retirement plan maintained by or to which the Company or
any subsidiary contributes for the benefit of the Participant, (B) the Participant leaves the
employ of a subsidiary that does not maintain or contribute to a retirement plan for the
benefit of the Participant, and at such time the Participant would have qualified for an early
or normal retirement pension under the terms of The Gillette Company Retirement Plan or
a successor plan in effect as of the Grant Date, had the individual been a participant of that
plan, or (C) solely in the case of a Company-initiated termination of employment (other
than for Cause)or an employee initiated termination for Good Reason (as that term is
defined in Section 20.23 of the Plan, at the time the Optionee leaves the employ of the
Company and its subsidiaries, the sum of Optionee’s attained age and years of service
(each measured in full and partial years) totals at least 80. An Optionee’s “retirement
date”, as used in this paragraph, means the first day the Optionee is no longer on the active
payroll of the Company or any subsidiary following the Optionee’s retirement. If not
exercised within the permitted period, the option shall expire automatically.

	
Death. In
the event an Optionee dies while holding a 2005 option, this option may be exercised
by the participant's executor or administrator or the person or persons to  whom the
option is transferred by will or the applicable laws of descent and distribution
at any time during a period ending on the
earlier of three years from the date of death or the remaining Option Term. If not exercised within the permitted period
the option shall expire automatically.

	
Cause. If the employment of the Optionee is terminated by the Company for Cause as defined in the Plan, all outstanding option grants (whether or not exercisable)
shall terminate automatically as of the date of termination of employment.

The date of this Prospectus is June 16, 2005. 

This
Document constitutes part of a Prospectus covering securities that have been
registered 

under the Securities Act 1933. 

          - 3 -

	 	 
	8.	Agreement not to Compete. As
                    a condition to the grant of this option, the Optionee must
                    agree in writing to the following non-competition provisions:
                    During employment and for a period of three years thereafter,
                    optionee will not compete with the Company or any subsidiary
          as specifically defined in Article 12 of the Plan.
	 	 
	9.	Confidentiality, Non-Solicitation
                         and Non-Defamation.
                         During employment and following termination of employment,
                         Optionee will not disclose or use Company confidential
                         information, will not defame or disparage the Company,
                         not solicit Company employees and will promptly disclose
                         and turn over all Company inventions and improvements,
          as specifically defined in the Plan.
	 	 
	10.	Company.
                    The term Company shall refer to The Gillette Company and
                    its subsidiaries prior to the consummation of a merger of
                    The Gillette Company and The Procter & Gamble Company
                    pursuant to a Merger Agreement between them dated January
                    27, 2005. The term Company shall refer to The Procter & Gamble
                    Company and its subsidiaries as of the Effective Time of
                    a merger of The Gillette Company and The Procter & Gamble
                    Company pursuant to a Merger Agreement between them dated
          January 27, 2005.
	 	 
	11.	All other applicable terms and conditions
          of the Plan are incorporated by reference herein.

 

 

 

The date of this Prospectus is June 16, 2005. 

This
Document constitutes part of a Prospectus covering securities that have been
registered 

under the Securities Act 1933.

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