Document:

<PAGE>

                                                                    Exhibit 10.1

                             PLAYTEX PRODUCTS, INC.

                       THIRD AMENDMENT TO CREDIT AGREEMENT

            This THIRD AMENDMENT TO CREDIT AGREEMENT (this "AMENDMENT") is dated
as of December 15, 2000, and entered into by and among Playtex Products, Inc., a
Delaware corporation (the "BORROWER"), the financial institutions listed on the
signature pages hereof ("LENDERS"), DLJ Capital Funding, Inc., as the
Syndication Agent for Lenders ("SYNDICATION AGENT"), and Wells Fargo Bank, N.A.,
as administrative agent for the Lenders ("ADMINISTRATIVE AGENT"), and, for
purposes of Section 4 hereof, the Credit Support Parties (as defined in Section
4 hereof) listed on the signature pages hereof, and is made with reference to
that certain Credit Agreement dated as of July 21, 1997, as amended by a First
Amendment dated as of January 28, 1998 and a Second Amendment dated as of June
30, 1999 (as so amended, the "CREDIT AGREEMENT"), by and among the Borrower,
Lenders, Syndication Agent and Administrative Agent. Capitalized terms used
herein without definition shall have the same meanings herein as set forth in
the Credit Agreement.

                                    RECITALS

            WHEREAS, the Borrower has requested Lenders to amend certain
financial covenants and in connection therewith has agreed to increase the
interest rates provided for herein and in connection therewith to make other
related amendments as set forth below;

            WHEREAS, subject to the terms and conditions set forth in this
Amendment, the Lenders are willing to agree to such amendments.

            NOW, THEREFORE, in consideration of the premises and the agreements,
covenants and other provisions herein contained, the parties hereto agree as
follows:

            SECTION 1. AMENDMENTS TO THE CREDIT AGREEMENT

            1.1 AMENDMENTS TO SECTION 1: DEFINITIONS

            A. Subsection 1.1 of the Credit Agreement is hereby amended by
adding thereto the following definitions, which shall be inserted in proper
alphabetical order:

            "`CONSOLIDATED SENIOR SECURED INDEBTEDNESS': of any Person, as of
            the date of determination, all Indebtedness hereunder and under the
            Notes and all other Indebtedness of such Person and its Subsidiaries
            which other Indebtedness is not subordinated to any other
            Indebtedness and which other Indebtedness is secured by a Lien on
            any asset of such Person or any of its Subsidiaries.

            `SENIOR SECURED DEBT RATIO': with respect to any Test Period, the
            ratio of (i) Consolidated Senior Secured Indebtedness of the
            Borrower on the last day of such Test Period MINUS (x) up to
            $30,000,000 in aggregate principal amount of
<PAGE>

            Working Capital Revolving Credit Loans which constitute seasonal
            borrowings outstanding on the last day of such Test Period, as
            reduced by the aggregate amount of Unrestricted Cash held by the
            Borrower on the last day of such Test Period MINUS (y) without
            duplication, the aggregate amount of Unrestricted Cash held by the
            Borrower on the last day of such Test Period to (ii) Consolidated
            EBITDA for such Test Period.

            `THIRD AMENDMENT': the Third Amendment to Credit Agreement dated as
            of December 15, 2000, by and among the Borrower, Lenders,
            Syndication Agent and Administrative Agent.

            `THIRD AMENDMENT EFFECTIVE DATE': December 15, 2000, PROVIDED that
            the conditions precedent to the effectiveness of the Third Amendment
            as set forth in Section 2 thereof shall have been satisfied on or
            prior to such date."

            B. Subsection 1.1 of the Credit Agreement is hereby further amended
by deleting the definition of "Applicable ABR Margin" therefrom and by
substituting the following therefor:

            "`APPLICABLE ABR MARGIN': as of any date of determination, a
            percentage per annum determined by the Funded Debt Ratio set forth
            on the most recent Level Determination Certificate as shown below:

            I. PRIOR TO THIRD AMENDMENT EFFECTIVE DATE:

<TABLE>
<CAPTION>
            FUNDED DEBT RATIO                                    ABR MARGIN
            -----------------                                    ----------
<S>                                                                <C>
            Greater than 5.25:1.0                                  0.25%
            Less than or equal to 5.25:1.0                         0.00%
</TABLE>

            II. ON OR AFTER THE THIRD AMENDMENT EFFECTIVE DATE:

<TABLE>
<CAPTION>
            FUNDED DEBT RATIO                                    ABR MARGIN
            -----------------                                    ----------
<S>                                                                <C>
            Greater than 5.25:1.0                                  1.00%
            Less than or equal to 5.25:1.0                         0.75%
</TABLE>

            ; PROVIDED that in the event that any of Borrower's debt ratings are
            lowered by either of Standard & Poor's Ratings Group or Moody's
            Investor Service, Inc. from those in effect on the Third Amendment
            Effective Date, each of the percentages set forth above for the ABR
            Margin shall be increased, effective as of the date such change in
            ratings is announced, by an additional 0.25% per annum; PROVIDED
            further that in the event that any, or if both such ratings services
            lowered Borrower's debt ratings all, of such lowered debt ratings
            are thereafter raised to

                                       2
<PAGE>

            ratings which are not less than those in effect on the Third
            Amendment Effective Date, the percentages set forth above for the
            ABR Margin shall again be in effect without regard to such 0.25% per
            annum increase, such change to be effective as of the date
            Borrower's debt ratings are not less than those in effect on the
            Third Amendment Effective Date."

            C. Subsection 1.1 of the Credit Agreement is hereby further amended
by deleting the definition of "Applicable Eurodollar Margin" therefrom and by
substituting the following therefor:

            "`APPLICABLE EURODOLLAR MARGIN': as of any date of determination, a
            percentage per annum determined by the Funded Debt Ratio set forth
            on the most recent Level Determination Certificate as shown below:

            I. PRIOR TO THIRD AMENDMENT EFFECTIVE DATE:

<TABLE>
<CAPTION>
            FUNDED DEBT RATIO                                EURODOLLAR MARGIN
            -----------------                                -----------------
<S>                                                                <C>
            Greater than 5.25:1.0                                  1.50%
            Greater than 4.5:1.0 and less than or equal to         1.25%
            5.25:1.0
            Greater than 4.0:1.0 and less than or equal to         1.00%
            4.5:1.0
            Less than or equal to 4.0:1.0                          0.75%
</TABLE>

            II. ON OR AFTER THE THIRD AMENDMENT EFFECTIVE DATE:

<TABLE>
<CAPTION>
            FUNDED DEBT RATIO                                EURODOLLAR MARGIN
            -----------------                                -----------------
<S>                                                                <C>
            Greater than 5.25:1.0                                  2.25%
            Greater than 4.5:1.0 and less than or equal to         2.00%
            5.25:1.0
            Greater than 4.0:1.0 and less than or equal to         1.75%
            4.5:1.0
            Less than or equal to 4.0:1.0                          1.50%
</TABLE>

            ; PROVIDED that in the event that any of Borrower's debt ratings are
            lowered by either of Standard & Poor's Ratings Group or Moody's
            Investors Service, Inc. from those in effect on the Third Amendment
            Effective Date, each of the percentages set forth above for the
            Eurodollar Margin shall be increased, effective as of the date such
            change in ratings is announced, by an additional 0.25% per annum;
            PROVIDED further that in the event that any, or if both such ratings
            services lowered Borrower's debt ratings all, of such lowered debt
            ratings are thereafter raised to ratings which are not less than
            those in effect on the Third Amendment

                                       3
<PAGE>

            Effective Date, the percentages set forth above for the Eurodollar
            Margin shall again be in effect without regard to such 0.25% per
            annum increase, such change to be effective as of the date
            Borrower's debt ratings are not less than those in effect on the
            Third Amendment Effective Date."

            1.2 AMENDMENTS TO SECTION 10: NEGATIVE COVENANTS

            A. Subsection 10.1(a) of the Credit Agreement is hereby amended by
deleting from the table contained therein the information from December 31,
2000, through to the end and by substituting the following therefor:

<TABLE>
<S>                                       <C>
            "December 31, 2000            1.80 to 1.00

            March 31, 2001                1.80 to 1.00
            June 30, 2001                 1.80 to 1.00
            September 30, 2001            1.85 to 1.00
            December 31, 2001             1.95 to 1.00

            March 31, 2002                2.00 to 1.00
            June 30, 2002                 2.05 to 1.00
            September 30, 2002            2.15 to 1.00
            December 31, 2002             2.20 to 1.00

            March 31, 2003                2.30 to 1.00
            June 30, 2003                 2.35 to 1.00
            September 30, 2003            2.35 to 1.00"
</TABLE>

            B. Subsection 10.1(b) of the Credit Agreement is hereby amended by
deleting from the table contained therein the information from December 31,
2000, through to the end and by substituting the following therefor:

<TABLE>
<S>                                       <C>
            "December 31, 2000            5.25 to 1.00

            March 31, 2001                5.25 to 1.00
            June 30, 2001                 5.25 to 1.00
            September 30, 2001            5.15 to 1.00
            December 31, 2001             4.95 to 1.00

            March 31, 2002                4.85 to 1.00
            June 30, 2002                 4.60 to 1.00
            September 30, 2002            4.40 to 1.00
            December 31, 2002             4.40 to 1.00

            March 31, 2003                4.25 to 1.00
            June 30, 2003                 4.25 to 1.00
            September 30, 2003            4.25 to 1.00"
</TABLE>

                                       4
<PAGE>

            C. Subsection 10.1 of the Credit Agreement is hereby further amended
by adding at the end thereof a new subsection 10.1(c) as follows:

            "(c) SENIOR SECURED DEBT RATIO. Permit for any period of four
            consecutive fiscal quarters ending on or about any "Test Date" set
            forth below the Senior Secured Debt Ratio to be greater than the
            ratio set forth opposite such period below:

<TABLE>
<CAPTION>
            TEST DATE                     SENIOR FUNDED DEBT RATIO
            ---------                     ------------------------
<S>                                             <C>
            December 31, 2000                   2.25 to 1.00

            March 31, 2001                      2.25 to 1.00
            June 30, 2001                       2.25 to 1.00
            September 30, 2001                  1.95 to 1.00
            December 31, 2001                   1.90 to 1.00

            March 31, 2002                      1.85 to 1.00
            June 30, 2002                       1.75 to 1.00
            September 30, 2002                  1.50 to 1.00
            December 31, 2002                   1.45 to 1.00

            March 31, 2003                      1.40 to 1.00
            June 30, 2003                       1.25 to 1.00
            September 30, 2003                  1.25 to 1.00"
</TABLE>

            SECTION 2. CONDITIONS TO EFFECTIVENESS

            Section 1 of this Amendment shall become effective only upon the
satisfaction of all of the following conditions precedent (such date of
satisfaction being referred to herein as the "THIRD AMENDMENT EFFECTIVE DATE"):

            A. On or before the Third Amendment Effective Date, the Borrower
shall deliver to Lenders (or to the Administrative Agent for Lenders with
sufficient originally executed copies, where appropriate, for each Lender and
its counsel) the following with respect to the Borrower, each, unless otherwise
noted, dated the Third Amendment Effective Date:

                  1. Signature and incumbency certificates of its officers
      executing this Amendment; and

                  2. This Amendment executed by the Borrower and the Credit
      Support Parties.

            B. On or before the Third Amendment Effective Date, Required Lenders
shall have delivered to Administrative Agent originally executed copies of this
Amendment.

            C. On or before the Third Amendment Effective Date, Borrower shall
pay to the Administrative Agent such fees as have been separately agreed upon by
the Administrative

                                       5
<PAGE>

Agent, the Syndication Agent and the Borrower. After receipt of such fees from
the Borrower, the Administrative Agent shall pay on the Third Amendment
Effective Date to each Lender consenting to this Amendment on or prior to
December 15, 2000, an amendment fee in an amount equal to 0.25% of the sum of
such Lender's Term A Loans and Revolving Credit Commitments.

            D. On or before the Third Amendment Effective Date, all corporate
and other proceedings taken or to be taken in connection with this Amendment and
all documents incidental thereto not previously found acceptable by Agents and
their counsel shall be reasonably satisfactory in form and substance to Agents
and such counsel, and Agents and such counsel shall have received all such
counterpart originals or certified copies of such documents as Agents may
reasonably request.

            SECTION 3. BORROWER'S REPRESENTATIONS AND WARRANTIES

            In order to induce Lenders to enter into this Amendment and to amend
the Credit Agreement in the manner provided herein, the Borrower represents and
warrants to each Lender that the following statements are true, correct and
complete:

            A. CORPORATE POWER AND AUTHORITY. The Borrower has all requisite
corporate power and authority to enter into this Amendment and to carry out the
transactions contemplated by, and perform its obligations under, the Credit
Agreement as amended by this Amendment (the "AMENDED AGREEMENT").

            B. AUTHORIZATION OF AGREEMENTS. The execution and delivery of this
Amendment and the performance of the Amended Agreement have been duly authorized
by all necessary corporate action on the part of the Borrower.

            C. NO CONFLICT. The execution and delivery by the Borrower of this
Amendment and the performance by the Borrower of the Amended Agreement do not
and will not (i) violate any provision of any law or any governmental rule or
regulation applicable to the Borrower or any of its Subsidiaries, the
Certificate or Articles of Incorporation or Bylaws of the Borrower or any of its
Subsidiaries or any order, judgment or decree of any court or other agency of
government binding on the Borrower or any of its Subsidiaries; (ii) conflict
with, result in a breach of or constitute (with due notice or lapse of time or
both) a default under any Contractual Obligation of the Borrower or any of its
Subsidiaries; (iii) result in or require the creation or imposition of any Lien
upon any of the properties or assets of the Borrower or any of its Subsidiaries
(other than Liens created under any of the Loan Documents in favor of the
Collateral Agent on behalf of Lenders); or (iv) require any approval of
stockholders or any approval or consent of any Person under any Contractual
Obligation of the Borrower or any of its Subsidiaries.

            D. GOVERNMENTAL CONSENTS. The execution and delivery by the Borrower
of this Amendment and the performance by the Borrower of the Amended Agreement
do not and will not require any registration with, consent or approval of,
notice to, or other action to, with or by, any federal, state or other
governmental authority or regulatory body.

                                       6
<PAGE>

            E. BINDING OBLIGATION. This Amendment has been duly executed and
delivered by the Borrower and this Amendment and the Amended Agreement are the
legally valid and binding obligations of the Borrower, enforceable against the
Borrower in accordance with their respective terms, except as may be limited by
bankruptcy, insolvency, reorganization, moratorium or similar laws relating to
or limiting creditors' rights generally or by equitable principles relating to
enforceability.

            F. INCORPORATION OF REPRESENTATIONS AND WARRANTIES FROM CREDIT
AGREEMENT. The representations and warranties contained in Section 7 of the
Credit Agreement are and will be true, correct and complete in all material
respects on and as of the Third Amendment Effective Date to the same extent as
though made on and as of that date, except to the extent such representations
and warranties specifically relate to an earlier date, in which case they were
true, correct and complete in all material respects on and as of such earlier
date.

            G. ABSENCE OF DEFAULT. No event has occurred and is continuing or
will result from the consummation of the transactions contemplated by this
Amendment that would constitute an Event of Default or a Default.

            SECTION 4. ACKNOWLEDGEMENT AND CONSENT

            Each Subsidiary Guarantor is a party to the Subsidiaries Guarantee
and the other Security Documents to which such Credit Support Parties are
parties pursuant to which such Subsidiary Guarantor has (i) guaranteed the
Borrower's obligations under the Loan Documents and (ii) created Liens in favor
of Collateral Agent on certain Collateral to secure the obligations of such
Subsidiary Guarantor under the Subsidiaries Guarantee. The Subsidiary Guarantors
are collectively referred to herein as the "CREDIT SUPPORT PARTIES", and the
Subsidiaries Guarantee and the other Security Documents are collectively
referred to herein as the "CREDIT SUPPORT DOCUMENTS".

            Each Credit Support Party hereby acknowledges that it has reviewed
the terms and provisions of the Credit Agreement and this Amendment and consents
to the amendment of the Credit Agreement effected pursuant to this Amendment.
Each Credit Support Party hereby confirms that each Credit Support Document to
which it is a party or otherwise bound and all Collateral encumbered thereby
will continue to guaranty or secure, as the case may be, to the fullest extent
possible the payment and performance of all "Obligations" (as such term is
defined in the applicable Credit Support Document), including without limitation
the payment and performance of all such "Obligations" in respect of the Borrower
now or hereafter existing under or in respect of the Amended Agreement defined
therein.

            Each Credit Support Party acknowledges and agrees that any of the
Credit Support Documents to which it is a party or otherwise bound shall
continue in full force and effect and that all of its obligations thereunder
shall be valid and enforceable and shall not be impaired or limited by the
execution or effectiveness of this Amendment. Each Credit Support Party
represents and warrants that all representations and warranties contained in the
Amended Agreement and the Credit Support Documents to which it is a party or
otherwise bound are true, correct and complete in all material respects on and
as of the Third Amendment Effective Date to the same extent as though made on
and as of that date, except to the extent such representations

                                       7
<PAGE>

and warranties specifically relate to an earlier date, in which case they were
true, correct and complete in all material respects on and as of such earlier
date.

            Each Credit Support Party acknowledges and agrees that (i)
notwithstanding the conditions to effectiveness set forth in this Amendment,
such Credit Support Party is not required by the terms of the Credit Agreement
or any other Loan Document to consent to the amendments to the Credit Agreement
effected pursuant to this Amendment and (ii) nothing in the Credit Agreement,
this Amendment or any other Loan Document shall be deemed to require the consent
of such Credit Support Party to any future amendments to the Credit Agreement.

            SECTION 5. MISCELLANEOUS

            A. REFERENCE TO AND EFFECT ON THE CREDIT AGREEMENT AND THE OTHER
LOAN DOCUMENTS.

            (i) On and after the Third Amendment Effective Date, each reference
            in the Credit Agreement to "this Agreement," "hereunder," "hereof,"
            "herein" or words of like import referring to the Credit Agreement,
            and each reference in the other Loan Documents to the "Credit
            Agreement," "thereunder," "thereof" or words of like import
            referring to the Credit Agreement shall mean and be a reference to
            the Amended Agreement.

            (ii) Except as specifically amended by this Amendment, the Credit
            Agreement and the other Loan Documents shall remain in full force
            and effect and are hereby ratified and confirmed.

            (iii) The execution, delivery and performance of this Amendment
            shall not, except as expressly provided herein, constitute a waiver
            of any provision of, or operate as a waiver of any right, power or
            remedy of the Syndication Agent or the Administrative Agent or any
            Lender under, the Credit Agreement or any of the other Loan
            Documents.

            B. FEES AND EXPENSES. The Borrower acknowledges that all costs, fees
and expenses as described in subsection 13.5 of the Credit Agreement, as
amended, incurred by any of the Agents and their counsel with respect to this
Amendment and the documents and transactions contemplated hereby shall be for
the account of the Borrower.

            C. HEADINGS. Section and subsection headings in this Amendment are
included herein for convenience of reference only and shall not constitute a
part of this Amendment for any other purpose or be given any substantive effect.

            D. APPLICABLE LAW. THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF
THE PARTIES HEREUNDER SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED AND ENFORCED
IN ACCORDANCE WITH, THE INTERNAL LAWS OF THE STATE OF NEW YORK (INCLUDING
WITHOUT LIMITATION SECTION 5-1401 OF THE GENERAL OBLIGATIONS LAW OF THE STATE OF
NEW YORK), WITHOUT REGARD TO CONFLICTS OF LAWS PRINCIPLES.

                                       8
<PAGE>

            E. COUNTERPARTS. This Amendment may be executed in any number of
counterparts and by different parties hereto in separate counterparts, each of
which when so executed and delivered shall be deemed an original, but all such
counterparts together shall constitute but one and the same instrument;
signature pages may be detached from multiple separate counterparts and attached
to a single counterpart so that all signature pages are physically attached to
the same document.

                  [Remainder of page intentionally left blank]

                                       9
<PAGE>

            IN WITNESS WHEREOF, the parties hereto have caused this Amendment to
be duly executed and delivered by their proper and duly authorized officers as
of the day and year first above written.

BORROWER:
                                          PLAYTEX PRODUCTS, INC.

                                          By:   /s/ GLENN A. FORBES
                                                -----------------------------
                                          Title: EXECUTIVE VICE PRESIDENT AND
                                                 CHIEF FINANCIAL OFFICER
                                                -----------------------------

CREDIT SUPPORT PARTIES:
                                          Playtex Investment Corp.
                                          Playtex International Corp.
                                          Playtex Manufacturing, Inc.
                                          Playtex Sales & Services, Inc.
                                          Sun Pharmaceuticals Corp.
                                          Smile-Tote, Inc.
                                          TH Marketing Corp.
                                          Personal Care Holdings, Inc.
                                          Personal Care Group, Inc.
                                          Carewell Industries, Inc.
                                          (for purposes of Section 4 only)
                                          as Credit Support Parties

                                          By:   /s/ GLENN A. FORBES
                                                -----------------------------
                                          Title:
                                                -----------------------------

LENDERS:
                                                -----------------------------

                                          By:
                                                -----------------------------
                                          Title:
                                                -----------------------------<PAGE>

                                                                    Exhibit 10.2

                             PLAYTEX PRODUCTS, INC.

                     SECOND AMENDMENT TO TERM LOAN AGREEMENT

            This SECOND AMENDMENT TO TERM LOAN AGREEMENT (this "Amendment") is
dated as of December 15, 2000, and entered into by and among Playtex Products,
Inc., a Delaware corporation ("BORROWER"), the financial institutions listed on
the signature pages hereof ("LENDERS"), DLJ Capital Funding, Inc., as the
Syndication Agent for Lenders ("SYNDICATION AGENT") and Wells Fargo Bank, N.A.,
as facility manager for the Lenders ("FACILITY MANAGER"), and, for purposes of
Section 4 hereof, the Credit Support Parties (as defined in Section 4 hereof)
listed on the signature pages hereof, and is made with reference to that certain
Term Loan Agreement dated as of July 21, 1997, as amended by a First Amendment
dated as of January 28, 1998 (as so amended, the "TERM LOAN AGREEMENT"), by and
among Borrower, Lenders, Syndication Agent and Facility Manager. Capitalized
terms used herein without definition shall have the same meanings herein as set
forth in the Term Loan Agreement.

                                    RECITALS

            WHEREAS, Borrower has advised Lenders that Borrower desires to amend
the Credit Agreement in certain respects and that in connection therewith
Borrower has agreed to amend the Term Loan Agreement to (i) increase the
interest rate under the Term Loan Agreement and (ii) make certain other related
amendments as set forth below;

            WHEREAS, subject to the terms and conditions of this Amendment,
Lenders are willing to agree to such amendments.

            NOW, THEREFORE, in consideration of the premises and the agreements,
provisions and covenants herein contained, the parties hereto agree as follows:

            SECTION 1. AMENDMENTS TO THE TERM LOAN AGREEMENT

            1.1 AMENDMENTS TO SECTION 1: DEFINITIONS

            A. Subsection 1.1 of the Term Loan Agreement is hereby amended by
adding thereto the following definitions, which shall be inserted in proper
alphabetical order:

            "`FUNDED DEBT RATIO': Borrower's "Funded Debt Ratio" as defined in,
      and as determined in accordance with, the Credit Agreement as in effect on
      the Second Amendment Effective Date.

            `LEVEL DETERMINATION CERTIFICATE': Borrower's "Level Determination
      Certificate" as defined in the Credit Agreement as in effect on the Second
      Amendment Effective Date.
<PAGE>

            `SECOND AMENDMENT': the Second Amendment to Term Loan Agreement
      dated as of December 15, 2000, by and among Borrower, Lenders, Syndication
      Agent and Facility Manager.

            `SECOND AMENDMENT EFFECTIVE DATE': December 15, 2000; provided that
      the conditions precedent to the effectiveness of the Second Amendment as
      set forth in Section 2 thereof shall have been satisfied on or prior to
      such date."

            B. Subsection 1.1 of the Term Loan Agreement is hereby further
amended by deleting the definitions of "Applicable ABR Margin" and "Applicable
Eurodollar Margin"" therefrom and by substituting therefor the following:

            "`APPLICABLE ABR MARGIN': as at any date of determination (i) prior
      to the Second Amendment Effective Date, a percentage per annum equal to
      0.25%, and (ii) on and after the Second Amendment Effective Date, a
      percentage per annum determined by the Funded Debt Ratio set forth on the
      most recent Level Determination Certificate as shown below:

<TABLE>
<CAPTION>
            FUNDED DEBT RATIO                               ABR MARGIN
            -----------------                               ----------
<S>                                                         <C>
            Greater than 4.5:1.0                            0.75%

            Greater than 4.0:1.0 and
            less than or equal to 4.5:1.0                   0.50%

            Less than or equal to 4.0:1.0                   0.25%
</TABLE>

            ; PROVIDED that in the event that any of Borrower's debt ratings are
            lowered by either of Standard & Poor's Ratings Group or Moody's
            Investor Service, Inc. from those in effect on the Second Amendment
            Effective Date, each of the percentages set forth above for the ABR
            Margin shall be increased, effective as of the date such change in
            ratings is announced, by an additional 0.25% per annum; PROVIDED
            further that in the event that any, or if both such ratings services
            lowered Borrower's debt ratings all, of such lowered debt ratings
            are thereafter raised to ratings which are not less than those in
            effect on the Second Amendment Effective Date, the percentages set
            forth above for the ABR Margin shall again be in effect without
            regard to such 0.25% per annum increase, such change to be effective
            as of the date Borrower's debt ratings are not less than those in
            effect on the Second Amendment Effective Date."

            `APPLICABLE EURODOLLAR MARGIN': as at any date of determination (i)
      prior to the Second Amendment Effective Date, a percentage per annum equal
      to 1.50%, and (ii) on and after the Second Amendment Effective Date, a
      percentage per annum determined by the Funded Debt Ratio set forth on the
      most recent Level Determination Certificate as shown below:

                                       2
<PAGE>

<TABLE>
<CAPTION>
            FUNDED DEBT RATIO                   APPLICABLE EURODOLLAR MARGIN
            -----------------                   ----------------------------
<S>                                                         <C>
            Greater than 4.5:1.0                            2.00%

            Greater than 4.0:1.0 and
            less than or equal to 4.5:1.0                   1.75%

            Less than or equal to 4.0:1.0                   1.50%"
</TABLE>

            ; PROVIDED that in the event that any of Borrower's debt ratings are
            lowered by either of Standard & Poor's Ratings Group or Moody's
            Investors Service, Inc. from those in effect on the Second Amendment
            Effective Date, each of the percentages set forth above for the
            Eurodollar Margin shall be increased, effective as of the date such
            change in ratings is announced, by an additional 0.25% per annum;
            PROVIDED further that in the event that any, or if both such ratings
            services lowered Borrower's debt ratings all, of such lowered debt
            ratings are thereafter raised to ratings which are not less than
            those in effect on the Second Amendment Effective Date, the
            percentages set forth above for the Eurodollar Margin shall again be
            in effect without regard to such 0.25% per annum increase, such
            change to be effective as of the date Borrower's debt ratings are
            not less than those in effect on the Second Amendment Effective
            Date."

            1.2 AMENDMENTS TO SECTION 3: GENERAL PROVISIONS

            Subsection 3.6 of the Term Loan Agreement is hereby amended by
adding the following paragraph (g) at the end thereof:

                  "(g) Upon delivery of the Level Determination Certificate by
            the Borrower to the Facility Manager pursuant to subsection 6.2(c),
            the Applicable Eurodollar Margin and the Applicable ABR Margin shall
            automatically be adjusted in accordance with the Funded Debt Ratio
            in effect as determined by such Level Determination Certificate,
            such adjustment to become effective on the next succeeding Business
            Day after the receipt by the Facility Manager of such Level
            Determination Certificate; PROVIDED that if a Level Determination
            Certificate is not delivered at the time required pursuant to
            subsection 6.2(c), the Applicable ABR Margin shall be 0.50% per
            annum and the Applicable Eurodollar Margin shall be 1.75% per annum,
            from such time until delivery of such Level Determination
            Certificate; PROVIDED FURTHER that if a Level Determination
            Certificate erroneously indicates margin more favorable to the
            Borrower than should be afforded by the actual calculation of the
            Funded Debt Ratio, the Borrower shall promptly pay additional
            interest to correct for such error."

            1.3 AMENDMENTS TO SECTION 6: AFFIRMATIVE COVENANTS

            Subsection 6.2(c) of the Term Loan Agreement is hereby amended by
deleting it in its entirety and by substituting therefor the following:

                  "(c) not later than 45 days following the end of each fiscal
            quarter of the Borrower, the Borrower shall deliver (i) a copy of
            the Level Determination Certificate for such fiscal quarter
            delivered to the Agents under the Credit

                                       3
<PAGE>

            Agreement and (ii) a certificate of a Responsible Officer for any
            fiscal quarter in which aggregate Asset Sales exceed $5,000,000
            describing in reasonable detail such Asset Sales and the derivation
            and intended application of the Net Cash Proceeds thereof;"

            SECTION 2. CONDITIONS TO EFFECTIVENESS

            Section 1 of this Amendment shall become effective only upon the
satisfaction of all of the following conditions precedent (such date of
satisfaction being referred to herein as the "SECOND AMENDMENT EFFECTIVE DATE"):

            A. On or before the Second Amendment Effective Date, Borrower shall
deliver to Lenders (or to Facility Manager for Lenders with sufficient
originally executed copies, where appropriate, for each Lender and its counsel)
the following with respect to the Borrower, each, unless otherwise noted, dated
the Second Amendment Effective Date:

                  1. Signature and incumbency certificates of its officers
      executing this Amendment; and

                  2. This Amendment executed by the Borrower and the Credit
      Support Parties.

            B. On or before the Second Amendment Effective Date, Required
Lenders shall have delivered to Agents originally executed copies of this
Amendment.

            C. On or before the Second Amendment Effective Date, all corporate
and other proceedings taken or to be taken in connection with this Amendment and
all documents incidental thereto not previously found acceptable by the Agents,
and its counsel shall be reasonably satisfactory in form and substance to the
Agents and such counsel, and the Agents and such counsel shall have received all
such counterpart originals or certified copies of such documents as the Agents
may reasonably request.

            SECTION 3. BORROWER'S REPRESENTATIONS AND WARRANTIES

            In order to induce Lenders to enter into this Amendment and to amend
the Term Loan Agreement in the manner provided herein, Borrower represents and
warrants to each Lender that the following statements are true, correct and
complete:

            A. CORPORATE POWER AND AUTHORITY. Borrower has all requisite
corporate power and authority to enter into this Amendment and to carry out the
transactions contemplated by, and perform its obligations under, the Term Loan
Agreement as amended by this Amendment (the "AMENDED AGREEMENT").

            B. AUTHORIZATION OF AGREEMENTS. The execution and delivery of this
Amendment and the performance of the Amended Agreement have been duly authorized
by all necessary corporate action on the part of Borrower.

            C. NO CONFLICT. The execution and delivery by Borrower of this
Amendment and the performance by Borrower of the Amended Agreement do not and
will not (i) violate any

                                       4
<PAGE>

provision of any law or any governmental rule or regulation applicable to
Borrower or any of its Subsidiaries, the Certificate or Articles of
Incorporation or Bylaws of Borrower or any of its Subsidiaries or any order,
judgment or decree of any court or other agency of government binding on
Borrower or any of its Subsidiaries; (ii) conflict with, result in a breach of
or constitute (with due notice or lapse of time or both) a default under any
Contractual Obligation of Borrower or any of its Subsidiaries; (iii) result in
or require the creation or imposition of any Lien upon any of the properties or
assets of Borrower or any of its Subsidiaries (other than Liens created under
any of the Loan Documents in favor of the Collateral Agent on behalf of
Lenders); or (iv) require any approval of stockholders or any approval or
consent of any Person under any Contractual Obligation of Borrower or any of its
Subsidiaries.

            D. GOVERNMENTAL CONSENTS. The execution and delivery by Borrower of
this Amendment and the performance by Borrower of the Amended Agreement do not
and will not require any registration with, consent or approval of, notice to,
or other action to, with or by, any federal, state or other governmental
authority or regulatory body.

            E. BINDING OBLIGATION. This Amendment have been duly executed and
delivered by Borrower and this Amendment and the Amended Agreement are the
legally valid and binding obligations of Borrower, enforceable against Borrower
in accordance with their respective terms, except as may be limited by
bankruptcy, insolvency, reorganization, moratorium or similar laws relating to
or limiting creditors' rights generally or by equitable principles relating to
enforceability.

            F. INCORPORATION OF REPRESENTATIONS AND WARRANTIES FROM TERM LOAN
AGREEMENT. The representations and warranties contained in Section 4 of the Term
Loan Agreement are and will be true, correct and complete in all material
respects on and as of the Second Amendment Effective Date to the same extent as
though made on and as of that date, except to the extent such representations
and warranties specifically relate to an earlier date, in which case they were
true, correct and complete in all material respects on and as of such earlier
date.

            G. ABSENCE OF DEFAULT. No event has occurred and is continuing or
will result from the consummation of the transactions contemplated by this
Amendment that would constitute an Event of Default or a Default.

            SECTION 4. ACKNOWLEDGEMENT AND CONSENT

            Each Subsidiary Guarantor is a party to the Subsidiaries Guarantee
and the other Security Documents to which such Credit Support Parties are
parties pursuant to which such Subsidiary Guarantor has (i) guaranteed
Borrower's obligations under the Loan Documents and (ii) created Liens in favor
of Collateral Agent on certain Collateral to secure the obligations of such
Subsidiary Guarantor under the Subsidiaries Guarantee. The Subsidiary Guarantors
are collectively referred to herein as the "CREDIT SUPPORT PARTIES", and the
Subsidiaries Guarantee and the other Security Documents are collectively
referred to herein as the "CREDIT SUPPORT DOCUMENTS".

            Each Credit Support Party hereby acknowledges that it has reviewed
the terms and provisions of the Term Loan Agreement and this Amendment and
consents to the

                                       5
<PAGE>

amendment of the Term Loan Agreement effected pursuant to this Amendment. Each
Credit Support Party hereby confirms that each Credit Support Document to which
it is a party or otherwise bound and all Collateral encumbered thereby will
continue to guaranty or secure, as the case may be, to the fullest extent
possible the payment and performance of all "Obligations" (as such term is
defined in the applicable Credit Support Document), including without limitation
the payment and performance of all such "Obligations" in respect of the Borrower
now or hereafter existing under or in respect of the Amended Agreement and the
Notes defined therein.

            Each Credit Support Party acknowledges and agrees that any of the
Credit Support Documents to which it is a party or otherwise bound shall
continue in full force and effect and that all of its obligations thereunder
shall be valid and enforceable and shall not be impaired or limited by the
execution or effectiveness of this Amendment. Each Credit Support Party
represents and warrants that all representations and warranties contained in the
Amended Agreement and the Credit Support Documents to which it is a party or
otherwise bound are true, correct and complete in all material respects on and
as of the Second Amendment Effective Date to the same extent as though made on
and as of that date, except to the extent such representations and warranties
specifically relate to an earlier date, in which case they were true, correct
and complete in all material respects on and as of such earlier date.

            Each Credit Support Party acknowledges and agrees that (i)
notwithstanding the conditions to effectiveness set forth in this Amendment,
such Credit Support Party is not required by the terms of the Term Loan
Agreement or any other Loan Document to consent to the amendments to the Term
Loan Agreement effected pursuant to this Amendment and (ii) nothing in the Term
Loan Agreement, this Amendment or any other Loan Document shall be deemed to
require the consent of such Credit Support Party to any future amendments to the
Term Loan Agreement.

            SECTION 5. MISCELLANEOUS

            A. REFERENCE TO AND EFFECT ON THE TERM LOAN AGREEMENT AND THE OTHER
LOAN DOCUMENTS.

            (i) On and after the Second Amendment Effective Date, each reference
            in the Term Loan Agreement to "this Agreement," "hereunder,"
            "hereof," "herein" or words of like import referring to the Term
            Loan Agreement, and each reference in the other Loan Documents to
            the "Term Loan Agreement," "thereunder," "thereof" or words of like
            import referring to the Term Loan Agreement shall mean and be a
            reference to the Amended Agreement.

            (ii) Except as specifically amended by this Amendment, the Term Loan
            Agreement and the other Loan Documents shall remain in full force
            and effect and are hereby ratified and confirmed.

            (iii) The execution, delivery and performance of this Amendment
            shall not, except as expressly provided herein, constitute a waiver
            of any provision of, or operate as a waiver of any right, power or
            remedy of the Syndication Agent or the Facility Manager or any
            Lender under, the Term Loan Agreement or any of the other Loan
            Documents.

                                       6
<PAGE>

            B. FEES AND EXPENSES. Borrower acknowledges that all costs, fees and
expenses as described in subsection 10.5 of the Term Loan Agreement, incurred by
any of the Collateral Agent or the Agents and their counsel with respect to this
Amendment and the documents and transactions contemplated hereby shall be for
the account of Borrower.

            C. HEADINGS. Section and subsection headings in this Amendment are
included herein for convenience of reference only and shall not constitute a
part of this Amendment for any other purpose or be given any substantive effect.

            D. APPLICABLE LAW. THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF
THE PARTIES HEREUNDER SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED AND ENFORCED
IN ACCORDANCE WITH, THE INTERNAL LAWS OF THE STATE OF NEW YORK (INCLUDING
WITHOUT LIMITATION SECTION 5-1401 OF THE GENERAL OBLIGATIONS LAW OF THE STATE OF
NEW YORK), WITHOUT REGARD TO CONFLICTS OF LAWS PRINCIPLES.

            E. COUNTERPARTS. This Amendment may be executed in any number of
counterparts and by different parties hereto in separate counterparts, each of
which when so executed and delivered shall be deemed an original, but all such
counterparts together shall constitute but one and the same instrument;
signature pages may be detached from multiple separate counterparts and attached
to a single counterpart so that all signature pages are physically attached to
the same document.

                  [Remainder of page intentionally left blank]

                                       7
<PAGE>

            IN WITNESS WHEREOF, the parties hereto have caused this Amendment to
be duly executed and delivered by their proper and duly authorized officers as
of the day and year first above written.

BORROWER:
                                          PLAYTEX PRODUCTS, INC.

                                          By:   /s/ GLENN A. FORBES
                                                ------------------------------
                                          Title: EXECUTIVE VICE PRESIDENT AND
                                                 CHIEF FINANCIAL OFFICER
                                                ------------------------------

CREDIT SUPPORT PARTIES:
                                          Playtex Investment Corp.
                                          Playtex International Corp.
                                          Playtex Manufacturing, Inc.
                                          Playtex Sales & Services, Inc.
                                          Sun Pharmaceuticals Corp.
                                          Smile-Tote, Inc.
                                          TH Marketing Corp.
                                          Personal Care Holdings, Inc.
                                          Personal Care Group, Inc.
                                          Carewell Industries, Inc.
                                          (for purposes of Section 4 only)
                                          as Credit Support Parties

                                          By:   /s/ GLENN A. FORBES
                                                ------------------------------
                                          Title:
                                                ------------------------------

LENDERS:

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

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