Document:

Exhibit 10.10c

                                    EXHIBIT A
                              To Agreement between
                         The Estee Lauder Companies Inc.
                                       and
                               Fred H. Langhammer
                          and dated as of July 1, 1995

                           SHARE UNIT AND OPTION GRANT AGREEMENT (this
         "Agreement") dated this 16th day of November, 1995 providing for the
         granting of options by The Estee Lauder Companies Inc., a Delaware
         corporation (the "Company"), to Fred H. Langhammer, an Executive
         employee of the Company (the "Executive").

                           By agreement dated as of July 1, 1995, the Company
         has employed the Executive in the position of President and Chief
         Operating Officer of the Company (the "Employment Agreement"). As
         contemplated by the Employment Agreement, and as set out at Section
         4(c) therein, the Board of Directors of the Company has determined that
         the Executive is to be granted options to purchase shares of the
         Company's Class A Common Stock, par value $.01 per share (the
         "Shares"), on the terms and subject to the conditions hereinafter
         provided. Additionally, the Board of Directors of the Company has
         determined as set out at Section 4(b) of the Employment Agreement that
         the Executive is to be granted a number of share units to be maintained
         in a notional account, each such unit representing one Share (the
         "Share Units") and dividend equivalent rights thereon.

                           The stock options to be granted pursuant hereto shall
         not be Incentive Stock Options as defined in Section 422A of the
         Internal Revenue Code of 1986, as amended, (the "Code").

                           1. NUMBER OF SHARES COVERED BY OPTIONS. Provided that
         Shares shall have been offered for sale to the public in compliance
         with the Securities Act of 1933, as amended (the "Securities Act"), on
         or prior to December 31, 1995, the Company hereby awards to the
         Executive options to purchase 1,300,000 Shares (the "Stock Options") as
         follows:

                           (a)    500,000 Stock Options shall be awarded as of
                                   the date that Shares are first offered for
                                    sale to the public (the "Initial Award");

                           (b)    200,000 Stock Options shall be awarded as of
                                         July 1, 1996 (the

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                                       "1996 Award");

                           (c)    200,000 Stock Options shall be awarded as of
                                        July 1, 1997 (the "1997 Award");

                           (d)    200,000 Stock Options shall be awarded as of
                                        July 1, 1998 (the "1998 Award"); and

                           (e)    200,000 Stock Options shall be awarded as of
                                        July 1, 1999 (the "1999 Award").

                           Notwithstanding the foregoing, no award shall be made
         if the Employment Agreement shall have been terminated for any reason
         on or prior to the date scheduled for such award.

                           2. EXERCISE PRICE. For each Stock Option granted
         hereunder, the per-share exercise price shall be equal to 100% of the
         closing price of the Class A Common Stock on the New York Stock
         Exchange or any other national securities exchange or other market
         system as reported by the Wall Street Journal on the date of grant or,
         if there shall be no trading on such date, the date next preceding on
         which trading occurred (the "Market Value").

                           3. PAYMENT OF EXERCISE PRICE. The Stock Option
         exercise price may be paid in cash, by the delivery of shares of Class
         A Common Stock of the Company then owned by the Executive or by a
         combination of these methods. Payment may also be made by delivering a
         properly executed exercise notice to the Company together with a copy
         of irrevocable instructions to a broker to deliver promptly to the
         Company the amount of sale or loan proceeds to pay the exercise price.
         The Company may prescribe any other method of paying the exercise price
         that it determines to be consistent with applicable law, including,
         without limitation, in lieu of the exercise of a Stock Option by
         delivery of shares of Class A Common Stock of the Company then owned by
         the Executive, providing the Company with a notarized statement
         attesting to the number of shares owned, where upon verification by the
         Company, the Company may issue to the Executive only the number of
         incremental shares to which the Executive is entitled upon exercise of
         the Stock Option.

                           4. EXERCISE PERIOD. Stock Options granted hereunder
         shall be exercisable as set forth below.

           (a) With respect to Stock Options granted in the Initial Award:

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              (i)  166,667 of such Stock Options may be exercised from and after
                                       January 1, 1999;

              (ii)  166,667 of such Stock Options may be exercised from and
                    after January 1, 2000; and

              (iii) 166,666 of such Stock Options may be exercised from and
                    after January 1, 2001.

         (b) With Respect to Stock Options granted in the 1996 Award:

              (i)   66,667 of such Stock Options may be exercised from and after
                                       January 1, 2000;

              (ii)  66,667 of such Stock Options may be exercised from and after
                                       January 1, 2001; and

              (iii) 66,666 of such Stock Options may be exercised from and after
                                       January 1, 2002.

         (c) With respect to Stock Options granted in the 1997 Award:

              (i)   66,667 of such Stock Options may be exercised from and after
                             January 1, 2001;

              (ii)  66,667 of such Stock Options may be exercised from and after
                             January 1, 2002; and

              (iii) 66,666 of such Stock Options may be exercised from and after
                             January 1, 2003.

         (d) With respect to Stock Options granted in the 1998 Award:

              (i)   66,667 of such Stock Options may be exercised from and after
                             January 1, 2002;

              (ii)  66,667 of such Stock Options may be exercised from and after
                             January 1, 2003; and

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              (iii) 66,666 of such Stock Options may be exercised from and after
                             January 1, 2004.

         (e) With respect to Stock Options granted in the 1999 Award:

              (i)   66,667 of such Stock Options may be exercised from and after
                             January 1, 2003;

              (ii)  66,667 of such Stock Options may be exercised from and after
                             January 1, 2004; and

              (iii) 66,666 of such Stock Options may be exercised from and after
                             January 1, 2005.

               No Stock Option awarded hereunder shall be exercisable later than
ten years after the date it is awarded except in the event of the Executive's
death, in which case, the exercise period of Stock Options awarded but
unexercised as of the date of death may be extended beyond such period but no
later than one year after the date of death. Stock Options awarded hereunder
shall not be transferrable otherwise then by will or the laws of descent and
distribution, and shall be exercisable during the Executive's lifetime only by
the Executive. Any attempted transfer contrary to the foregoing shall be null
and void and without effect.

               5. POST-EMPLOYMENT EXERCISES. The exercise of any Stock Option
after termination of the Executive's employment with the Company shall be
subject to satisfaction of the conditions precedent that the Executive neither
(i) competes with, or takes other employment with or renders services to a
competitor of, the Company, its subsidiaries or affiliates without the written
consent of the Company, nor (ii) conducts himself in a manner adversely
affecting the Company.

               6. SHARE UNITS. Provided that Shares have been offered for sale
to the public in compliance with the Securities Act on or prior to December 31,
1995, the Company shall establish a Share Unit Account for the Executive, and
shall credit thereto a number of share units equal to $1,500,000 divided by the
initial offering price of one share of Class A Common Stock as established at
the Offering Date, rounded to the next lower whole unit. Thereafter, as of each
July 1 during the Term of Employment, the Company shall credit to such Share
Unit Account a number of share units equal to (x) $1,500,000 divided by (y) the
average closing price of the Class A Common Stock on the New York Stock Exchange
or any other national securities exchange or other market system as reported by
the Wall Street Journal for the twenty (20) trading days next

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preceding such July 1 (the "Average Share Price"), rounded to the next lower
whole unit. The number of share units credited as of any July 1 shall not exceed
100,000. In the event that, as of any July 1, the Average Share Price times
100,000 shall be less than $1,500,000, the amount of such deficiency shall be
credited as a cash addition to a bookkeeping account in the name of the
Executive, and shall be credited with interest and paid to the Executive in
accordance with Section 3(c) of the Employment Agreement.

               Additionally, as of each date during the Term of Employment (and
continuing thereafter until full payment of share units shall be made) that the
Company shall declare a dividend to holders of record of the Class A Common
Stock (a "Record Date"), the Company shall credit to such Share Unit Account a
number of share units equal to (x) the aggregate dividend payable on a number of
shares equal to the number of share units credited to the Share Unit Account as
of such Record Date, divided by (y) the average closing price of the Class A
Common Stock on the New York Stock Exchange or any other national securities
exchange or other market system as reported by The Wall Street Journal for the
twenty (20) trading days next preceding such Record Date, rounded to the next
lower whole unit.

               Share units credited to the Share Unit Account during any
Contract Year hereunder shall be non-forfeitable as long as the Executive shall
remain in the employ of the Company during the entirety of such Contract Year.
In the event that the employment of Executive shall terminate during any
Contract Year hereunder (other than a termination due to disability or death, or
a termination in accordance with Section 6(c) or 6(f) of the Employment
Agreement), share units credited or creditable to the Share Unit Account during
such Contract Year shall be forfeited and shall be neither due nor payable to
the Executive.

               The Company shall make full payment to the Executive of the Share
Unit Account on a date to be chosen by it, but in no event later than the first
anniversary of the Executive's termination from employment with the Company.
Such payment shall be made by transfer to the Executive of a number of shares of
Class A Common Stock of the Company equal to the number of share units credited
to the Share Unit Account as of the date of such payment, reduced by the number
of shares having a value, as of the date of such payment, equal to the federal,
state and local withholding tax due and owing in connection with such transfer.
In the event of the death of the Executive prior to the date that full payment
of the Share Unit Account shall have been made, payment thereof shall be made to
the Executive's executor or administrator.

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                  7. ADJUSTMENT PROVISIONS; CHANGE IN CONTROL.

                      (a) If there shall be any change in the Class A Common
Stock of the Company, through merger, consolidation, reorganization,
recapitalization, stock dividend, stock split, reverse stock split, split up,
spinoff, combination of shares, exchange of shares, dividend in kind or other
like change in capital structure or distribution (other than normal cash
dividends) to all holders of Class A Common Stock of the Company, an adjustment
shall be made to each outstanding Stock Option and Share Unit such that each
such Stock Option shall thereafter be exercisable for and such Share Unit shall
be equivalent to such securities, cash and/or other property as would have been
received in respect of the Class A Common Stock subject to such Stock Option had
it been exercised or such Share Unit had it been paid in full immediately prior
to such change or distribution, and such an adjustment shall be made
successively each time any such change shall occur. In addition, in the event of
any such change or distribution, in order to prevent dilution or enlargement of
the Executive's rights hereunder, the Company will have authority to adjust, in
an equitable manner, the number and kind of shares that may be issued with
respect to any Stock Option or Share Unit hereunder, the number and kind of
shares subject to outstanding Stock Options or related to outstanding Share
Units, the exercise price applicable to outstanding Stock Options, and the
Market Value of the Class A Common Stock and other value determinations
applicable to Stock Options and Share Units. Appropriate adjustments may also be
made by the Company in the terms of any Stock Options or Share Units to reflect
such changes or distributions and to modify any other terms of outstanding Stock
Options and Share Units on an equitable basis. In addition, the Company is
authorized to make adjustments to the terms and conditions of Stock Options and
Share Units, in recognition of unusual or nonrecurring events affecting the
Company or the financial statements of the Company, or in response to changes in
applicable laws, regulations, or accounting principles.

                      (b) Notwithstanding any other provision hereunder, if
there is a "Change in Control" (as hereinafter defined) of the Company, all then
outstanding Stock Options shall immediately become exercisable and all
outstanding Share Units shall become immediately payable. For purposes of this
Section 7(b), a "Change in Control" of the Company shall be deemed to have
occurred upon any of the following events:

                           (i)   A change in control of the direction and
                                 administration of the Company's business of a
                                 nature that would be required to be reported in
                                 response to Item 6(e) of Schedule 14A of
                                 Regulation 14A promulgated under the Securities
                                 Exchange Act of 1934, as amended (the "Exchange
                                 Act"); or

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                           (ii)  During any period of two (2) consecutive years,
                                 the individuals who at the beginning of such
                                 period constitute the Company's Board of
                                 Directors or any individuals who would be
                                 "Continuing Directors" (as hereinafter defined)
                                 cease for any reason to constitute at least a
                                 majority thereof; or

                           (iii) The Company's Class A Common Stock shall cease
                                 to be publicly traded; or

                           (iv)  The Company's Board of Directors shall approve
                                 a sale of all or substantially all of the
                                 assets of the Company, and such transaction
                                 shall have been consummated; or

                           (v)   The Company's Board of Directors shall approve
                                 any merger, consolidation, or like business
                                 combination or reorganization of the Company,
                                 the consummation of which would result in the
                                 occurrence of any event described in Section
                                 7(b)(ii) or (b)(iii) above, and such
                                 transaction shall have been consummated.

               Notwithstanding the foregoing, (A) changes in the relative
beneficial ownership among members of the Lauder family and family-controlled
entities shall not, by themselves, constitute a Change in Control of the
Company, (B) any spin-off of a division or subsidiary of the Company to its
stockholders and (C) any event listed in clauses (i) through (v) above that the
Board of Directors determines not to be a Change in Control of the Company,
shall not constitute a Change in Control of the Company.

               For purposes of this Section 7(b), "Continuing Directors" shall
mean (x) the directors of the Company in office on the date that shares of the
Company's Class A Common Stock are first offered for sale to the public and (y)
any successor to any such director and any additional director who after such
date was nominated or selected by a majority of the Continuing Directors in
office at the time of his or her nomination or selection.

               The Company, in its discretion, may determine that, upon the
occurrence of a Change in Control of the Company, each Stock Option outstanding
hereunder shall terminate within a specified number of days after notice to the
Executive, and the Executive shall receive, with respect to each share of Class
A Common Stock subject to

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such Stock Option, an amount equal to the excess of the Market Value of such
shares of Common Stock immediately prior to the occurrence of such Change in
Control over the exercise price per share of such Stock Option; such amount to
be payable in cash, in one or more kinds of property (including the property, if
any, payable in the transaction) or in a combination thereof, as the Company, in
its discretion, shall determine. The provisions contained in the preceding
sentence shall be inapplicable to any Stock Option awarded hereunder within six
(6) months before the occurrence of a Change in Control if the Executive is
subject to the reporting requirements of Section 16(c) of the Exchange Act and
no exception from liability under Section 16(b) of the Exchange Act is otherwise
available to the Executive.

               8. WITHHOLDING. All payments or distributions of Stock Options
and Share Units made hereunder shall be net of any amounts required to be
withheld pursuant to applicable Federal, state and local tax withholding
requirements. The Company may require the Executive to remit to it an amount
sufficient to satisfy such tax withholding requirements prior to the delivery of
any certificates for such Class A Common Stock. The Company may, in its
discretion and subject to such rules as it may adopt (including any as may be
required to satisfy applicable tax and/or non-tax regulatory requirements),
permit the Executive to pay all or a portion of the federal, state and local
withholding taxes arising in connection with any Stock Option or Share Unit by
electing to have the Company withhold shares of Class A Common Stock having a
Market Value equal to the amount of tax to be withheld, such tax calculated at
rates required by statute or regulation.

               9. TENURE. The Executive's right to continue to serve the Company
or any of its subsidiaries as an officer, employee, or otherwise, shall not be
enlarged or otherwise affected by his award hereunder.

               10. INVESTMENT REPRESENTATION AND RELATED MATTERS. The Executive
hereby represents that Stock Options and Share Units awarded hereunder are being
acquired for investment purposes and not for sale or with a view to distribution
thereof. The Executive hereby acknowledges that as of the date hereof there does
not exist a Registration Statement on an appropriate form under the Securities
Act and applicable state securities laws that has become effective and includes
a prospectus which is current with respect to shares of Class A Common Stock
subject to Stock Options and Share Units awarded hereunder. Accordingly, the
Executive acknowledges and agrees that any subsequent offer for sale or sale of
any such shares of Class A Common Stock shall be made either pursuant to (i) a
Registration Statement on appropriate form under the Securities Act and, where
applicable, state securities laws, which Registration Statement shall have
become effective and shall be current with respect to the shares of Class A
Common Stock being offered and sold, or (ii) a specific exemption from the
registration

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requirements of the Securities Act and any applicable securities laws, but in
claiming such exemption, the Executive shall, prior to any offer for sale or
sale of such shares, obtain a favorable written opinion of counsel, in form and
substance satisfactory to counsel for the Company, as to the applicability of
such exemption.

               The Executive agrees that the Company shall have the authority to
endorse upon the certificate or certificates representing the Shares acquired
hereunder such legends referring to the foregoing restrictions and any other
applicable restrictions, as it may deem appropriate.

               11. NOTICES. Any notice required or permitted under this
Agreement shall be deemed to have been duly given if delivered, telecopied or
mailed, certified or registered mail, return receipt requested to the
Executive,in any case, in accordance with Section 16 of the Employment
Agreement.

               12. FAILURE TO ENFORCE NOT A WAIVER. The failure of the Company
to enforce at any time any provision of the this Agreement shall in no manner be
construed to be a waiver of such provision or of any other provision hereof.

               13. GOVERNING LAW. This Agreement shall be governed by and
construed according to the laws of the State of New York, applicable to
agreements made and performed in that state.

               14. PARTIAL INVALIDITY. The invalidity or illegality of any
provision herein shall not be deemed to affect the validity of any other
provision.

               15. COUNTERPARTS. This Agreement may be executed in counterparts
each of which taken together shall constitute one and the same instrument.

               16. AMENDMENT. This Agreement may not be amended except by an
instrument in writing making specific reference hereto signed by each of the
parties hereto; PROVIDED, however, the provisions of Section 1 hereof may not be
amended more than once every six (6) months, other than to comport with changes
in the Code, the Employee Retirement Income Security Act of 1974 or the rules
thereunder.

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               IN WITNESS WHEREOF, the Company has executed this Agreement in
duplicate on the date and year first above written.

                               THE ESTEE LAUDER COMPANIES INC.

                               By:  /s/ ANDREW J. CAVANAUGH
                                  -----------------------------------------
                                  Name:  Andrew J. Cavanaugh
                                  Title: Senior Vice President - Corporate Human
                                         Resources

         The undersigned hereby accepts, and agrees to, all terms and provisions
         of the foregoing Option Agreement.

                               /s/  FRED H. LANGHAMMER
                               --------------------------------------------
                               Fred H. Langhammer

10EXHIBIT 10.11B

                                   SCHEDULE A
                              To Agreement between
                         The Estee Lauder Companies Inc.
                                       and
                                Daniel J. Brestle
                          and dated as of July 1, 1995

         OPTION AGREEMENT dated the 16th day of November, 1995 providing for the
granting of options by The Estee Lauder  Companies Inc., a Delaware  corporation
(the "Company"), to Daniel J. Brestle, an Executive employee of the Company (the
"Executive").

         By  agreement  dated as of July 1, 1995,  the Company has  employed the
Executive  in the  position of  President  of Clinique  Laboratories,  Inc.  and
Canada)  (the  "Employment  Agreement").   As  contemplated  by  the  Employment
Agreement, and as set out at Section 3(d) therein, the Board of Directors of the
Company has determined  that the Executive is to be granted  options to purchase
shares of the Company's Class A common stock,  no par value (the  "Shares"),  on
the terms and subject to the conditions hereinafter provided.

         The stock options to be granted  pursuant hereto shall not be Incentive
Stock Options (as defined in Section 422A of the Internal  Revenue Code of 1986,
as amended).

         1. Number of Shares. The Company hereby awards to the Executive options
to purchase 200,000 Shares (the "Stock Options") as follows:

         100,000           Stock Options shall be awarded as of the date that
                           Shares are first offered for sale to the public (the
                           "Initial Award").

         50,000            Stock Options shall be awarded as of July 1, 1996;

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                           (the "1996 Award").

         50,000   Stock Options shall be awarded as of July 1, 1997
                           (the "1997 Award"),

provided, however, that no award shall be made if the Employment Agreement shall
have been terminated on or prior to the date scheduled for such award.

         2.  Exercise  Price.  For each  Stock  Option  granted  hereunder,  the
per-share  exercise  price  shall be equal to 100% of the  closing  price of the
Class A Common  Stock on the New  York  Stock  Exchange  or any  other  national
securities  exchange  or other  market  system as  reported  by the Wall  Street
Journal or if there shall be no trading on such date, the date next preceding on
which trading occurred (the "Market Value") as of the date of such award.

         3. Payment of Exercise Price.  The option exercise price may be paid in
cash,  by the  delivery of shares of Class A Common  Stock of the  Company  then
owned by the Executive,  or by a combination of these methods.  Payment may also
be made by  delivering  a  properly  executed  exercise  notice  to the  Company
together with a copy of irrevocable instructions to a broker to deliver promptly
to the Company the amount of sale or loan proceeds to pay the exercise price. To
facilitate the foregoing,  the Company may enter into agreements for coordinated
procedures with one or more brokerage firms. The Company may prescribe any other
method of paying the exercise  price that it determines  to be  consistent  with
applicable  law,  including,  without  limitation,  in lieu of the exercise of a
Stock  Option by delivery of shares of Class A Common  Stock of the Company then
owned  by the  Executive,  providing  the  Company  with a  notarized  statement
attesting to the number of shares owned, where upon verification by the Company,
the Company may issue to the Executive only the number of incremental  shares to
which  the  Executive  is  entitled  upon  Exercise  of  the  Stock  Option.  In
determining  which methods the Executive may utilize to pay the

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exercise  price,  the Company may  consider  such factors as it  determines  are
appropriate.

         4.  Exercise   Period.   Stock  Options  granted   hereunder  shall  be
exercisable as follows:

         WITH RESPECT TO THE INITIAL AWARD
         ---------------------------------

                  33,333 Stock Options may be exercised from and after
                           January 1, 1999.

                  33,333 Stock Options may be exercised from and after
                           January 1, 2000.

                  33,334 Stock Options may be exercised from and after
                           January 1, 2001.

         WITH RESPECT TO THE 1996 AWARDS
         -------------------------------

                  16,667 Stock Options may be exercised from and after
                           January 1, 2000

                  16,667 Stock Options may be exercised from and after
                           January 1, 2001

                  16,666 Stock Options may be exercised from and after
                           January 1, 2002

         WITH RESPECT TO THE 1997 AWARD
         ------------------------------

                  16,667 Stock Options may be exercised from and after
                           January 1, 2001

                  16,667 Stock Options may be exercised from and after
                           January 1, 2002

                  16,666 Stock Options may be exercised from and after
                           January 1, 2003

No Stock Option  awarded  hereunder  shall be  exercisable  later than ten years
after the date it is awarded,  except in the event of the Executive's  death, in
which case the exercise  period for Stock Options  awarded but unexercised as of
the date of death  shall be  extended  for one year  thereafter.  Stock  Options
awarded hereunder shall not be transferrable then by will or the laws of descent
and

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distribution,  and shall be exercisable during the Executive's  lifetime only by
the Executive.

         5.  Post-Employment  Exercises.  The exercise of any Stock Option after
termination of the  Executive's  employment with the Company shall be subject to
satisfaction of the Conditions precedent that the Executive neither (i) competes
with, or takes other employment with or renders services to a competitor of, the
Company,  its  subsidiaries  or  affiliates  without the written  consent of the
Company, nor (ii) conducts himself in a manner adversely affecting the Company.

         6. Adjustment Provisions; Change in Control.

         a. If there  shall be any  change  in the  Class A Common  Stock of the
Company, through merger, consolidation, reorganization,  recapitalization, stock
dividend,  stock split, reverse stock split, split up, spin-off,  combination of
shares,  exchange  of shares,  dividend  in kind or other like change in capital
structure or distribution  (other than normal cash dividends) to stockholders of
the Company,  an adjustment shall be made to each outstanding  Stock Option such
that each such Stock Option shall thereafter be exercisable for such securities,
cash and/or other property as would have been received in respect of the Class A
Common  Stock  subject  to  such  Stock  Option  had it been  exercised  in full
immediately  prior to such change or distribution,  and such an adjustment shall
be made successively each time any such change shall occur. In addition,  in the
event of any such  change  or  distribution,  in order to  prevent  dilution  or
enlargement of the Executive's rights hereunder, the Company will have authority
to adjust,  in an  equitable  manner,  the number and kind of shares that may be
issued with respect to any Stock Option hereunder, the number and kind of shares
subject  to  outstanding  Stock  Options,   the  exercise  price  applicable  to
outstanding Stock Options,  and the Market Value of the Class A Common Stock and
other value determinations applicable to outstanding Stock Options.  Appropriate
adjustments may also be made by the Company in the terms of any Stock Options to
reflect  such  changes  or  distributions  and to  modify  any  other  terms  of

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outstanding  Stock Options on an equitable  basis.  In addition,  the Company is
authorized to make adjustments to the terms and conditions of Stock Options,  in
recognition  of unusual or  nonrecurring  events  affecting  the  Company or the
financial  statements  of the Company,  or in response to changes in  applicable
laws, regulations, or accounting principles.

         b. Notwithstanding any other provision hereunder,  if there is a Change
in Control of the Company,  all then outstanding Stock Options shall immediately
become exercisable.  For purposes of this Section 6(b), a "Change in Control" of
the Company shall be deemed to have occurred upon any of the following events:

             (i) A change in control of the direction and  administration of the
      Company's  business  of a nature  that would be required to be reported in
      response to Item 6(e) of Schedule 14A of Regulation 14A promulgated  under
      the Exchange Act; or

             (ii)  During  any  period  of  two  (2)  consecutive   years,   the
      individuals  who at the beginning of such period  constitute the Company's
      Board of Directors or any individuals who would be "Continuing  Directors"
      (as  hereinafter  defined)  cease for any reason to  constitute at least a
      majority thereof; or

             (iii) The Company's Class A Common Stock shall cease to be publicly
      traded; or

             (iv) The Company's  Board of Directors  shall approve a sale of all
      or  substantially  all of the assets of the Company,  and such transaction
      shall have been consummated; or

             (v) The  Company's  Board of  Directors  shall  approve any merger,
      consolidation,  or like  business  combination  or  reorganization  of the

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      Company,  the  consummation of which would result in the occurrence of any
      event described in Section  6(b}(ii) or (iii) above,  and such transaction
      shall have been consummated.

Notwithstanding the foregoing,  (A) changes in the relative beneficial ownership
among members of the Lauder family and family-controlled  entities shall not, by
themselves, Constitute a Change in Control of the Company, (B) any spin-off of a
division  or  subsidiary  of the Company to its  stockholders  and (C) any event
listed in (I) through (v) above that the Board of Directors determines not to be
a Change in Control of the Company,  shall not constitute a Change in Control of
the Company.

         For purposes of this Section 6(b),  "Continuing  Directors"  shall mean
(x) the  directors  of the  Company in office on the date that  shares are first
offered for sale to the public and (y) any  successor  to any such  director and
any  additional  director  who after such date was  nominated  or  selected by a
majority  of the  Continuing  Directors  in  office  at the  time  of his or her
nomination or selection.

         The Company may  determine  that,  upon the  occurrence  of a Change in
Control of the Company,  each Stock Option outstanding hereunder shall terminate
within a  specified  number  of days  after  notice  to the  Executive,  and the
Executive  shall  receive,  with  respect to each share of Class A Common  Stock
subject to such Stock Option,  an amount equal to the excess of the Market Value
of such  shares of Common  Stock  immediately  prior to the  occurrence  of such
Change in Control over the exercise  price per share of such Stock Option;  such
amount to be payable in cash,  in one or more kinds of property  (including  the
property,  if any, payable in the transaction) or in a combination  thereof,  as
the Company, in its discretion, shall determine.

         7.  Withholding.  All payments or  distributions  of Stock Options made
hereunder  shall be net of any  amounts  required  to be  withheld  pursuant  to
applicable federal,  state and local tax withholding  requirements.  The Company

                                       6
<PAGE>

may require the  Executive to remit to it an amount  sufficient  to satisfy such
tax withholding  requirements prior to the delivery of any certificates for such
Common Stock. The Company may, in its discretion and subject to such rules as it
may adopt  (including  any as may be required to satisfy  applicable  tax and/or
non-tax regulatory  requirements),  permit the Executive to pay all or a portion
of the federal, state and local withholding taxes arising in connection with any
Stock Option by electing to have the Company  withhold  shares of Class A Common
Stock having a Market Value equal to the amount to be  withheld,  provided  that
such  withholding  shall only be at rates  required  by  applicable  statutes or
regulations.

         8. Tenure.  The  Executive's  right to continue to serve the Company or
any of its  subsidiaries  as an officer,  employee,  or otherwise,  shall not be
enlarged or otherwise affected by her award hereunder.

         9. Specific  Restrictions  Upon Option  Shares.  The  Executive  hereby
agrees with the Company as  follows:

         (a)  The  Executive  shall  acquire  Shares  hereunder  for  investment
purposes only and not with a view to resale or other distribution thereof to the
public in violation of the  Securities Act of 1933, as amended (the "1933 Act"),
and shall not dispose of any such Shares in  transactions  which, in the opinion
of counsel to the  Company,  violate the 1933 Act, or the rules and  regulations
thereunder,  or any applicable  state securities or "blue sky" laws; and further

         (b) If any Shares  shall be  registered  under the 1933 Act,  no public
offering  (otherwise than on a national securities  exchange,  as defined in the
Securities  Exchange Act of 1934, as amended) of any Shares  acquired  hereunder
shall be by the Executive (or any other person) under such circumstances that he
or she (or such  person)  may be deemed an  underwriter,  as defined in the 1933
Act; and further

         (c) The  Executive  agrees that the Company shall have the authority to
endorse upon the  certificate or certificates  representing  the Shares acquired

                                       7
<PAGE>

hereunder  such legends  referring to the foregoing  restrictions  and any other
applicable restrictions, as it may deem appropriate.

         10.  Notices.  Any notice  required  or  permitted  under  this  Option
Agreement  shall be deemed to have been duly given if  delivered,  telecopied or
mailed,  certified or registered mail, return receipt requested to the Executive
at such address as she may designate in writing to the Company.

         11.  Failure to Enforce  Not a Waiver.  The  failure of the  Company to
enforce  at any time any  provision  of this  agreement  shall in no  manner  be
construed to be a waiver of such provision or of any other provision hereof.

         12.  Governing  Law.  The Option  Agreement  shall be  governed  by and
construed  according  to the  laws  of the  State  of New  York,  applicable  to
agreements made and performed in that state.

         13. Partial  Invalidity.  The invalidity or illegality of any provision
herein shall not be deemed to affect the validity of any other provision.

         IN WITNESS  WHEREOF,  the Company has executed this Option in duplicate
on the date and year first above written.

                                        THE ESTEE LAUDER COMPANIES INC.

                                        By: /s/ ANDREW J. CAVANAUGH
                                            -----------------------
                                        Name:  Andrew J. Cavanaugh
                                        Title: Senior Vice President - Corporate
                                               Human Resources

The undersigned hereby accepts, and agrees to, all terms and provisions of the
foregoing Option Agreement.

                                        /s/  DANIEL J. BRESTLE
                                        -----------------------
                                        Daniel J. Brestle

                                       8

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