Document:

ex10_bd.htm

    
      

    

    
      Exhibit
10-B(d)

      

      Amendment
to the Colgate-Palmolive Company

      Supplemental
Salaried Employees’ Retirement Plan

      

      AMENDMENT,
dated as of February 25, 2010, to the Colgate-Palmolive Company Supplemental
Salaried Employees’ Retirement Plan.

      

      RESOLVED,
effective February 25, 2010, Sections 3.2, 3.3 and 4.4 of the Colgate-Palmolive
Company Supplemental Salaried Employees’ Retirement Plan are amended as
follows:

      

      
        1.  Section
3.2 is deleted and replaced in its entirety with the
following:

      

      

      Amount of Member’s
Benefit.

      

      
        	
                 
      

              	
                (a)

              	
                In
      the case of any Member whose Determination Date is coincident with or
      immediately following his separation from service, such Member shall be
      entitled to a benefit under this Plan, the Actuarial Equivalent of which
      is equal to the difference between:

              

      

      

      
        	
                 
      

              	
                (i)

              	
                the
      benefit that would have been payable under the Base Plan as of such date
      in the form elected by the Member under such plan if the limitations of
      Code sections 401(a)(17) and 415 were not take into account in calculating
      the benefit; and

              

      

      

      
        	
                 
      

              	
                (ii)

              	
                the
      benefit actually payable under the Base
Plan.

              

      

      

      In the
case of a Member Eligible for the Increased Benefit, the determination of the
benefit payable under the Base Plan under (i) of the immediately preceding
sentence shall be made by assuming that the benefit is payable in the form of a
joint and 75% surviving spouse annuity with no actuarial reduction to reflect
the 75% survivor annuity, provided, however that in any case where the surviving
spouse is more than 60 months younger than the Member, the additional 25%
surviving spouse annuity shall be reduced 1/8 of 1% (.00125) per month for each
month over 60 months that the surviving spouse is younger than the
Member.

      

      
        	
                 
      

              	
                (b)

              	
                In
      any case where the Determination Date under the Base Plan does not
      coincide with, or immediately follow, the Member’s separation from
      service, the Member shall be entitled to a benefit under this Plan, the
      Actuarial Equivalent of which is equal to the difference
      between:

              

      

      

      
        	
                 
      

              	
                (i)

              	
                the
      annual benefit that would have been payable under the Base Plan in the
      normal form as of the earliest date the Member could have commenced
      benefits under the Base Plan following his separation from service if the
      limitations of Code sections 401(a)(17) and 415 were not taken into
      account in calculating the benefit;
and

              

      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      
        	
                 
      

              	
                (ii)

              	
                the
      Maximum Benefit applicable to the Member as of that
  date.

              

      

      

      In the
case of a Member Eligible for the Increased Benefit, the determination of the
benefit payable under the Base Plan under (i) of the immediately preceding
sentence shall be made in accordance with the second sentence of Section
3.2(a).

      

      
        	
                 
      

              	
                (c)

              	
                The
      benefit amount determined above is subject to reduction as provided in
      Sections 3.6, 3.7 and 3.8.  The benefit amount (after the
      reductions required under Sections 3.6 and 3.7 but prior to the reduction
      required under Section 3.8), when expressed as a straight life annuity,
      and then added to the benefit payable under the Base Plan, when expressed
      as a straight life annuity (in each case using the actuarial assumptions
      specified in Section 2.1 which are in effect on the Benefit Commencement
      Date), shall be limited to 70 percent of the Member’s salary base on the
      date of separation from service plus the value of the executive incentive
      compensation (whether or not payable in cash) awarded for services
      rendered in the calendar year immediately preceding the calendar year
      containing the separation from service date.  For this purpose,
      executive incentive compensation includes cash and non-cash awards under
      the Executive Incentive Compensation Plan of the Company.  Also
      for this purpose, restricted stock issued pursuant to the Executive
      Incentive Compensation Plan shall be valued at its publicly traded value
      on the New York Stock Exchange at the close of business on the date of
      grant.

              

      

      

      
        	
                 
      

              	
                (d)

              	
                The
      benefit amount determined above (after the reductions required under
      Sections 3.2(c), 3.6, and 3.7 but prior to the reduction required under
      Section 3.8) when expressed as a lump sum, and when added to the benefit
      determined under Section 3.2(a)(ii) or Section 3.2(b)(ii), as applicable,
      when expressed as a lump sump (in each case using the actuarial
      assumptions which are then in effect under the Base Plan on the Benefit
      Commencement Date) shall be further limited to the difference between (i)
      $20,000,000, increased by 6% compounded annually commencing in January
      2010 and adjusted monthly, and (ii) the benefit determined under Section
      3.2(a)(ii) or Section 3.2(b)(ii), as applicable, when expressed as a lump
      sum using the actuarial assumptions which are then in effect under the
      Base Plan on the Benefit Commencement Date if the present value of the
      benefit amount to which a Member is entitled under this Article III on or
      after February 25, 2010, when expressed as a lump sum using the actuarial
      assumptions which are in effect on such date, would otherwise exceed the
      limit set forth above in this Section 3.2(d), subject to obtaining the
      written consent of any such Member and his Beneficiary to such
      reduction.

              

      

      

      
        2.  Section
3.3 is deleted and replaced in its entirety with the
following:

      

      
        
           

        

        
          2

          
            

          

        

        
           

        

      

      Amount of Beneficiary’s
Benefit.  Upon the death of a Member whose Beneficiary is
eligible for a Beneficiary’s benefit under the Base Plan, such Beneficiary shall
be entitled to an annual benefit under this Plan equal to the difference between
(i) the benefit that would have been payable to the Beneficiary under the Base
Plan if the limitations of Code Sections 401(a)(17) and 415 were not taken
into account in calculating the benefit; and (ii) the benefit actually payable
to the Beneficiary under the Base Plan.  In the case of a Member
Eligible for the Increased Benefit who dies after retirement, the determination
of the benefit payable under the Base Plan under (i) of the immediately
preceding sentence shall be made by assuming that the normal form of benefit is
in the form of a joint and 75% surviving spouse annuity with no actuarial
reduction to reflect the 75% survivor annuity, provided, however that in any
case where the surviving spouse is more than 60 months younger than the Member,
the additional 25% surviving spouse annuity shall be reduced 1/8 of 1% (.00125)
per month for each month over 60 months that the surviving spouse is younger
than the Member.  Notwithstanding the above, the Beneficiary of a
Member Eligible for an Increased Benefit shall not be entitled to receive a
total benefit under the Base Plan and the Plan that exceeds the Member Eligible
for an Increased Benefit’s normal retirement benefit under the Base Plan and the
Plan.  In no event, however, shall the benefit amount payable to the
Beneficiary, when expressed as a lump sum (using the actuarial assumptions then
in effect under the Base Plan) exceed 50% (75% or reduced in accordance with the
immediately preceding sentence, in the case of a Member Eligible for the
Increased Benefit) of the benefit amount applicable to the Member on the date of
his death if the amount of the Member’s Benefit is subject to the limitation set
forth in Section 3.2(d).

      

      
        3.  Section
4.4 is deleted and replaced in its entirety with the
following:

      

      

      Amendment and
Termination.  The Company may amend, modify or terminate this
Plan at any time, provided, however, that no such amendment, modification or
termination shall reduce any benefit under this Plan to which a Member, or the
Member’s Beneficiary, is entitled under Article III prior to the date of such
amendment or termination, and in which such Member or Beneficiary would have
been vested if such benefit had been provided under the Base Plan, unless the
Member or Beneficiary either becomes entitled to an amount equal to the
Actuarial Equivalent of such benefit under another plan, including the Base
Plan, program or practice adopted by the Company or consents in writing to such
reduction.  The Employee Relations Committee may make changes to this
Plan which do not materially reduce the value of the benefits paid under this
Plan to conform to, or take advantage of, any governmental requirements,
statutes, regulations or other authority.

      

      and be it
further

      

      RESOLVED,
that the officers of the Company be, and they hereby are, jointly and severally,
authorized and empowered to take any and all actions, and to execute any and all
agreements, documents and instruments, as they in their discretion may deem
necessary or appropriate to effectuate the foregoing resolution.

       

       

      3ex10_p.htm

    
      

    

    
      EXHIBIT
10-P

    

    
 

    FORM
OF RESTRICTED STOCK AWARD AGREEMENT

    COLGATE-PALMOLIVE
COMPANY

    

    EXECUTIVE
INCENTIVE COMPENSATION PLAN

    

    

    

    <<Date>>

    

    

    <<Title>>
<<First Name>> <<Last Name>>

    Colgate-Palmolive
Company

    <<Location>>

    

    

    This will
confirm the following award of restricted stock made to you on [DATE] by the
Personnel and Organization Committee of the Board of Directors of
Colgate-Palmolive Company (the “Company”) pursuant to the Executive
Incentive Compensation Plan of the Company (the “Plan”). If you have not received
copies of the Plan and the Plan Prospectus, they are available from the Company
at 300 Park Avenue, New York, NY  10022, Attention:  Mr.
Andrew D. Hendry, Senior Vice President, General Counsel and
Secretary.

    

    You have
been granted an award of <<________>> shares of restricted
stock.

    

    This
award is subject to the terms, conditions, limitations and restrictions
contained in or established pursuant to the Plan and all requirements of
applicable law.  Your acceptance of the award shall constitute your
acknowledgment of, and agreement to, all such terms, conditions, limitations and
restrictions.

    

    Receiving
shares of common stock is contingent upon your continued employment with the
Company for [_______] years (i.e., until at least [DATE]) (the “Vesting Period”)
[notwithstanding the normal Plan guidelines regarding the effect of retirement
on awards]1.  During the Vesting
Period, dividend equivalents will be credited to the shares of restricted
stock.  As soon as practicable after the end of the Vesting Period,
the award plus dividend equivalents will be paid to you in the form of Colgate
common stock, less any required tax withholding that becomes due during or at
the end of the Vesting Period.

    

    Nothing
herein contained shall obligate the Company or any subsidiary of the Company to
continue your employment for any particular period or on any particular basis of
compensation, including without limitation, to make future grants of restricted
shares or other equity awards.

    

    This
award may not be assigned or transferred in whole or in part except as provided
in the Plan.  You shall not have any of the rights of a shareholder
with respect to any of the restricted shares which are the subject of the award
until shares of common stock are actually issued to you.

    

    The
number of restricted shares included in your award is subject to adjustment as
provided in the Plan.  You assume all risks incident to any change
hereafter in applicable laws or regulations or incident to any change in the
market value of the Colgate common stock after the date of grant of the award
and after vesting.

    

      

    

    
      1
Bracketed language to be included in the case of certain retention
grants.

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    Data
Privacy.  You understand that the Company and the Company subsidiary
for which you work may hold certain personal information about you, including,
but not limited to, your name, home address and telephone number, date of birth,
social insurance number or other identification number, any shares of stock or
directorships held in the Company, details of all restricted stock awards or any
other entitlement to shares of stock awarded, canceled, exercised, vested,
unvested or outstanding in your favor, for the exclusive purpose of
implementing, administering and managing the Plan (“Data”).  You
hereby consent to the collection, use and transfer, in electronic or other form,
of your personal data as described in this Agreement and any other restricted
stock grant materials by and among, as applicable, the Company, its subsidiaries
and Affiliates and any third parties engaged by the Company to administer the
Plan, for the exclusive purpose of implementing, administering and managing your
participation in the Plan.  You understand that you may request a list
with the names and addresses of any potential recipients of the Data by
contacting your local human resources representative.  You understand
that you may, at any time, view Data, request additional information about the
storage and processing of Data, require any necessary amendments to Data or
refuse or withdraw the consents herein, in any case without cost, by contacting
in writing your local human resources representative.  You understand,
however, that refusing or withdrawing your consent may affect your ability to
participate in the Plan.  For more information on the consequences of
your refusal to consent or withdrawal of consent, you understand that you may
contact your local human resources representative.

    

    This
Agreement and related restricted stock award are governed by, and subject to,
the laws of the State of Delaware, without reference to principles of conflict
of laws, as provided in the Plan.

    

    

    
      	 
      	
              Very
      truly yours,

            
	 
      	 
      
	 
      	
              COLGATE-PALMOLIVE
      COMPANY

            
	 
      	 
      
	 
      	 
      
	 
      	
              By

            

    

    

    

    

    
 

    Sign
below to indicate your acceptance of the foregoing and
retain this Agreement for your records.

    

     

    
      
        

      

       

       

      -2-

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