Document:

Exhibit 10.1

THE CLOROX
COMPANY

FIRST AMENDED AND
RESTATED 

EXECUTIVE CHANGE IN
CONTROL SEVERANCE PLAN 

EFFECTIVE NOVEMBER 20,
2014 

THIS EXECUTIVE CHANGE IN
CONTROL SEVERANCE PLAN (the “Plan”) was originally adopted and approved by the
Management Development and Compensation Committee (“Committee) of the Board of
Directors (“Board”) of THE CLOROX COMPANY, a Delaware corporation (the
“Company”) on December 17, 2010 and became effective immediately upon such
adoption. It is hereby amended and restated on November 20, 2014 as set forth
herein. The purpose of the Plan is to provide for the payment of severance
benefits to certain eligible executives of the Company in the event their
employment with the Company terminates involuntarily, as described in further
detail in the Plan, and to assure that the Company will have the continued
dedication of the Executive, notwithstanding the possibility, threat or
occurrence of a Change in Control (as defined in Section 2 below) of the
Company. The Company believes it is an important corporate goal and in the
interests of the Company’s stockholders to diminish the inevitable distraction
of the Executive by virtue of the personal uncertainties and risks created by a
pending or threatened Change in Control and to encourage the Executive’s full
attention and dedication to the Company currently and in the event of any
threatened or pending Change in Control, and to provide the Executive with
compensation and benefits arrangements upon a Change in Control which ensure
that the compensation and benefits expectations of the Executive will be
satisfied and which are competitive with those of other corporations.

1. Eligibility and Term. 

(a) Each executive officer of the Company who is
selected by the Committee and who executes the form of participation letter
established under the Plan (“Executive”) shall be covered by the Plan until
either (i) the time that he is no longer an employee of the Company or (ii) the
first to occur of the following: (A) the first anniversary of the date that the
Plan is amended or otherwise altered to terminate such person’s coverage, (B)
the first anniversary of the date that the individual is no longer an executive
officer of the Company, or (C) the first anniversary of the date that the
Committee acts to end his coverage under the Plan without amendment or other
alteration of the Plan. Any Executive whose participation is terminated by
amendment or alteration of the Plan, cessation of service as an executive
officer of the Company or action of the Committee shall be notified promptly in
accordance with Section 15(b). 

(b) The Plan became effective
immediately upon its adoption by the Committee on December 17, 2010 (the
“Effective Date”). After the Effective Date, the Plan may be amended, modified,
suspended or terminated at any time by the Committee; provided, however, that no
such action that may adversely affect the rights of an executive officer shall
become effective for one (1) year following the date of such action. Any
executive officer whose rights are adversely affected shall be notified promptly
in accordance with Section 15(b) following the date of such action. With respect
to any given Executive, the terms of the Plan, together with any actions taken
after the Effective Date by the Committee that are effective with respect to
that Executive, shall remain in effect until either (i) the time that the
Executive is no longer employed by the Company, if a Severance Protection Period
has not commenced for that Executive in the interim, or (ii) if a Severance
Protection Period has commenced at or before the time that the Executive is no
longer employed by the Company, the date as of which all of the duties and
obligations of the parties have been satisfied under the Plan. 

2. Change in Control. For the purpose of the Plan, a “Change in Control” shall mean:

(a) The acquisition by any
individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2)
of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)) (a
“Person”) of beneficial ownership (within the meaning of Rule 13d-3 promulgated
under the Exchange Act) of (i) 50% of either the total fair market value or the
combined voting power of the then outstanding voting securities of the Company
entitled to vote generally in the election of directors (the “Outstanding
Company Voting Securities”), or (ii) during a 12 month period ending on the date
of the most recent acquisition by such Person, 30% of the Outstanding Company
Voting Securities; provided, however, that for purposes of this subsection (a),
the following acquisitions shall not constitute a Change in Control: (i) any
acquisition directly from the Company, (ii) any acquisition by the Company,
including any acquisition which by reducing the number of shares outstanding, is
the sole cause for increasing the percentage of shares beneficially owned by any
such Person to more than the applicable percentage set forth above, (iii) any
acquisition by any employee benefit plan (or related trust) sponsored or
maintained by the Company or any corporation controlled by the Company or (iv)
any acquisition by any corporation pursuant to a transaction which complies with
clauses (i), (ii) and (iii) of subsection (c) of this Section 2; or 

(b) Individuals who, as of the
date hereof, constitute the Board (the “Incumbent Board”) cease for any reason
within any period of 12 months to constitute at least a majority of the Board;
provided, however, that any individual becoming a director subsequent to the
date hereof whose election, or nomination for election by the Company’s
stockholders, was approved by a vote of at least a majority of the directors
then comprising the Incumbent Board, shall be considered as though such
individual were a member of the Incumbent Board, but excluding, for this
purpose, any such individual whose initial assumption of office occurs as a
result of an actual or threatened election contest with respect to the election
or removal of directors or other actual or threatened solicitation of proxies or
consents by or on behalf of a Person other than the Board; or 

(c) Consummation by the
Company of a reorganization, merger or consolidation or sale or other
disposition of all or substantially all of the assets of the Company or the
acquisition of assets of another corporation (a “Business Combination”), in each
case, unless, following such Business Combination, (i) more than 50% of,
respectively, the then outstanding shares of common stock and the combined
voting power of the then outstanding voting securities entitled to vote
generally in the election of directors, as the case may be, of the corporation
resulting from such Business Combination (including without limitation, a
corporation which as a result of such transaction owns the Company or all or
substantially all of the Company’s assets either directly or through one or more
subsidiaries) is represented by Outstanding Company Common Stock and Outstanding
Company Voting Securities, respectively, that were outstanding immediately prior
to such Business Combination (or, if applicable, is represented by shares into
which such Outstanding Company Common Stock and Outstanding Company Voting
Securities were converted pursuant to such Business Combination) and such
ownership of common stock and voting power among the holders thereof is in
substantially the same proportions as their ownership, immediately prior to such
Business Combination of the Outstanding Company Common Stock and Outstanding
Company Voting Securities, as the case may be, (ii) no Person (excluding any
employee benefit plan (or related trust) of the Company or such corporation
resulting from such Business Combination) beneficially owns, directly or
indirectly, 20% or more of, respectively, the then outstanding shares of common
stock of the corporation resulting from such Business Combination or the
combined voting power of the then outstanding voting securities of such
corporation except to the extent that such ownership existed prior to the
Business Combination and (iii) at least a majority of the members of the board
of directors of the corporation resulting from such Business Combination were
members of the Incumbent Board at the time of the execution of the initial
agreement, or of the action of the Board, providing for such Business
Combination. 

2

Notwithstanding any other
provision in this Section 2, any transaction defined in Section 2(a) through (c)
above that does not constitute a "change in the ownership or effective control"
of the Company, or "change in the ownership of a substantial portion of the
assets" of the Company within the meaning of Treasury Regulations 1.409A-3(a)(5) and 1.409A-3(i)(5) shall not be treated as a Change in Control.

3. Entitlement to Benefits Upon Termination of
Employment.

(a) Events Entitling Executive to Benefits under the
Plan. In the event that an
Executive’s employment is terminated by the Company without Cause during the
Severance Protection Period or the Executive resigns for a Good Reason during
the Severance Protection Period, then the Executive shall be entitled to receive
the benefits set forth in Section 4 below, subject to the satisfaction of any
requirements set forth in Section 4(c) of the Plan. 

(b) Events Not Entitling Executive to Benefits under
the Plan. Under all other
circumstances not described in Section 3(a) above, including (i) the termination
of an Executive’s employment with the Company on account of death, Disability,
or Executive’s resignation not for a Good Reason, or the termination of
Executive’s employment, whether initiated by the Company, Executive or
otherwise, that does not occur within the Severance Protection Period, the
Executive shall not be entitled to receive any benefits under the Plan. For
avoidance of doubt, any termination of Executive’s employment by the Company on
account of a physical or mental impairment of Executive’s faculties that does
not constitute a Disability shall be treated for purposes of the Plan as a
termination without Cause by the Company and Executive shall be entitled to
receive benefits under the Plan if such a termination occurs during the
Severance Protection Period. Furthermore, nothing in the Plan shall be treated
as a waiver by Executive of amounts otherwise due and owing to Executive in the
event that Executive is not entitled to the receipt of benefits under the Plan
(e.g., the receipt of accrued but unused vacation in accordance with the
Company’s policy and applicable law). 

(c) Notice of Termination. 

(i) Any termination by the
Company for Cause shall be communicated by Notice of Termination for Cause to
Executive given in accordance with Sections 14(e) and 15(b) of this Plan.

3

(ii) Any termination by the
Executive for Good Reason shall be communicated by Notice of Termination for
Good Reason to the Company within a period not to exceed 90 days of the initial
existence of the condition and given in accordance with Section 15(b) of the
Plan. For purposes of the Plan, a “Notice of Termination for Good Reason” means
a written notice which (X) indicates the specific termination provision in the
Plan relied upon, (Y) to the extent applicable, sets forth in reasonable detail
the facts and circumstances claimed to provide a basis for termination of the
Executive’s employment under the provision so indicated and (Z) the Executive's
intended Date of Termination if the Company does not cure the issue (which date
shall be not less than thirty days after the giving of such notice). After
receipt by the Company of the Notice of Termination for Good Reason, the Company
shall have thirty (30) days during which it may remedy the condition and thereby
cure the event or circumstance constituting “Good Reason”. 

4. Change in Control Severance
Benefits. 

In the event that an
Executive’s employment is terminated by the Company without Cause or the
Executive resigns for a Good Reason, and either such event occurs during the
Severance Protection Period, the following provisions shall apply: 

(a) The Company shall provide
the following benefits to the Executive: 

(i) A lump sum cash payment no
later than 30 days after the Date of Termination equal to the aggregate of the
following amounts: 

(A) the sum of (1) the
Executive’s Annual Base Salary through the Date of Termination to the extent not
theretofore paid, (2) any accrued but unused vacation pay, and (3) reimbursement
of any unpaid business expenses incurred by Executive in accordance with the
Company’s policy on business expense reimbursement (the sum of the amounts
described in clauses (1), (2), and (3) shall be hereinafter referred to as the
“Accrued Obligations”); 

(B) an amount equal to the
following: 

			  # of days
      in the current fiscal year  
	Average Annual
      Bonus	      
      X       	through the Date of Termination
			365

provided, however, that if the
Executive meets retirement eligibility on the Date of Termination and thus is
eligible to receive a retirement bonus in accordance with the terms of the
Company's AIP Plan, EIC Plan or any other plan adopted by the Company, the
Company shall pay such retirement bonus or pay the amount
calculated in accordance with this Section 4(a)(i)(B), whichever is greater, but
it shall not be obligated to pay both; and 

(C) an amount equal to two (2)
times (or three (3) times, in the case of the Chief Executive Officer) the sum
of the Executive’s (i) Annual Base Salary and (ii) Average Annual Bonus; and

4

(D) an amount equal to the
difference between (a) the actuarial equivalent of the aggregate benefits under
the Company’s qualified pension and profit-sharing plans (the “Retirement Plans”) and any excess or supplemental
pension and profit-sharing plans in which the Executive participates
(collectively, the “Nonqualified Plans”) which the Executive would have been
entitled to receive if the Executive’s employment had continued for an
additional two (2) years (“Separation Period”), assuming (to the extent
relevant) that the Executive’s compensation during the Separation Period would
have been equal to the Executive’s compensation as in effect immediately prior
to the Date of Termination (disregarding any decrease in compensation that
resulted in the delivery by Executive to the Company of a Notice of Termination
for Good Reason), and that employer contributions to the Executive’s accounts in
the Retirement Plans and the Nonqualified Plans during the Separation Period
would have been equal to the average of such contributions for the three years
immediately preceding the Date of Termination or, if higher, the three years
immediately preceding the Effective Date, and (b) the actuarial equivalent of
the Executive’s actual aggregate benefits (paid or payable), if any, under the
Retirement Plans and the Nonqualified Plans as of the Date of Termination (the
actuarial assumptions used for purposes of determining actuarial equivalence
shall be no less favorable to the Executive than the most favorable of those in
effect under the Retirement Plan and the Nonqualified Plans on the Date of
Termination and the date of the Change in Control). 

(ii) the Company shall provide
the following health benefits: 

(A) if the Executive
participated in a Company self-insured medical plan (which does not satisfy the
requirements of Section 105(h)(2)) immediately prior to the Date of Termination,
pay to the Executive or cause to have paid on the Executive's behalf the
Company's portion of the premium payable under the Company's group health plans
for providing health benefits (i.e., medical, dental and vision benefits) to the
Executive and to those family members covered through Executive under the
Company's group health plans immediately prior to the Date of Termination, such
coverage to be provided under the group health plans in which Executive and his
covered family members are participating immediately prior to the Date of
Termination or elect in accordance with the Company's applicable established
procedures (reduced by any amounts which Executive is required to pay for such
health benefit coverage). The Company shall pay or cause to have paid all
amounts due under this Section 4(a)(ii) in annual installments, with the first
installment due or credited within 30 days after the Date of Termination and
subsequent installments being made or credited on the anniversary thereof;
provided, however, that subsequent installments may be reduced or eliminated to
the extent that Executive becomes eligible for other health coverage through a
subsequent employer; or 

(B) if Section 4(a)(ii)(A)
above is not applicable (because the Executive participated in a health benefit
program to which Section 105(h) is not applicable, such as the Company's HMO
immediately prior to the Date of Termination), continue benefits under such
health plan on the same basis as an employee of the Company. 

5

The purpose of providing the
benefits pursuant to this Section 4(a)(ii) shall be to provide the Executive
and/or the Executive’s covered family members with continued health benefits at
least equal to those which would have been provided to them in accordance with
the Company's health plans, programs, practices and policies if the Executive’s
employment had not been terminated or, if more favorable to the Executive, as in
effect generally at any time thereafter with respect to other peer executives of
the Company and its affiliated companies and their families (in each case with
such contributions by the Executive as would have been required had the
Executive’s employment not been
terminated). However, each continued benefit under a health plan sponsored by
the Company described herein shall cease upon the earliest of: (i) two years (or
three years, in the case of the Chief Executive Officer) from the Date of
Termination; (ii) the Participant’s 65th birthday; or (iii) the
Participant’s eligibility for the same type of health benefit (i.e., medical,
dental or vision coverage) under a subsequent employer’s group health plans. For
purposes of determining eligibility (but not the time of commencement of
benefits) of the Executive for retiree benefits pursuant to such plans,
practices, programs and policies of the Company, the Executive shall be
considered to have remained employed for an additional two (2) years (or three
(3) years, in the case of the Chief Executive Officer) following the Date of
Termination and to have retired on the last day of such period. Any period of
additional coverage under this Section 4(a)(ii) shall not be subtracted from the
period of months for which the Executive is eligible for benefits under the
Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”). As such, upon
the cessation of coverage under this Section 4(a)(ii), the Participant shall be
entitled to elect continued coverage under COBRA (at the Participant's sole
expense) for the full period the Participant would have otherwise been entitled
to had the Participant's qualifying event (within the meaning of COBRA) occurred
on the date of such cessation of coverage. 

(iii) if the Executive were
entitled to receive financial planning and/or tax return preparation benefits
immediately before the Date of Termination, the Company shall continue to
provide the Executive with such financial planning and/or tax return preparation
benefits with respect to the calendar year in which the Date of Termination
occurs (including without limitation the preparation of income tax returns for
that year), on the same terms and conditions as were in effect immediately
before the Date of Termination (disregarding for all purposes of this clause
(iii) any reduction or elimination of such benefits that was the basis of a
termination of employment by the Executive for Good Reason). 

(iv) any awards granted to the
Executive prior to the Change in Control under the Company’s 2005 Stock
Incentive Plan or any successor plan thereto will become immediately vested and
exercisable upon the Executive’s termination. 

To the extent any benefits
described in Section 4(a)(ii) and (iii) cannot be provided pursuant to the
appropriate plan or program maintained for employees, the Company shall provide
such benefits outside such plan or program at no additional cost to the
Executive than the cost to the Executive immediately prior to the Date of
Termination. 

6

(b) Specified Employee. Notwithstanding the foregoing, if the Executive
is a Specified Employee (as defined in Section 1.409A-1(i) of the Treasury
Department Regulations) on the Date of Termination and all payments subject to
Section 409A of the Internal Revenue Code (the "Code") specified in Section 4(a)
are not made by March 15 of the year immediately following the Date of
Termination, the following shall apply: Such payments may be made to the extent
that the amount does not exceed two times the lesser of (i) the sum of the
Executive's annualized compensation based upon the annual rate of pay for
services provided to the Company for the taxable year preceding the termination,
or (ii) the maximum amount that may be taken into account pursuant to Section
401(a)(17) of the Code ($260,000 in 2014) for the year in which the Executive
has terminated. Any amounts exceeding such limit, may not be made before the
earlier of the date which is six (6) months after the Date of Termination or the
date of death of the Executive. Furthermore, any payments pursuant to this
Section 6 shall be postponed until six (6) months following the end of the
consulting period so long as
the Executive continues to work on a consulting basis for the Company following
termination and such consulting requires the Executive to work more than 20% of
his average hours worked during the 36 months preceding his termination. Any
payments that were scheduled to be paid during the six (6) month period
following the Executive's Date of Termination, but which were delayed pursuant
to this Section 6(e), shall be paid without interest on, or as soon as
administratively practicable after, the first day following the six (6) month
anniversary of the Executive's Date of Termination (or, if earlier, the date of
Executive's death). Any payments that were originally scheduled to be paid
following the six (6) months after the Executive's Date of Termination, shall
continue to be paid in accordance to their predetermined schedule. 

(c) Release. The Executive shall have 21 days following termination (or such longer
period as may be required by law, but in no event greater than 60 days following
termination) in which to execute a form of release of claims ("Release") in a
form substantially equivalent to the attached Exhibit (which may be amended by
the Company, from time to time, to conform to applicable law) and seven days in
which to revoke the Release after its execution. If the Executive does not
execute, or having executed, effectively revokes the Release, the Company will
not be obligated to provide any benefits or payments of any kind to the
Executive under the Plan. 

5. Non-Exclusivity of Rights. Nothing in the Plan (i) shall prevent or limit an Executive’s continuing
or future participation in any written plan, program or policy provided by the
Company or any of its affiliated companies and for which the Executive may
qualify by the express terms of such plan, program, or policy nor (ii) shall
limit or otherwise affect such rights as the Executive may have under any
written contract or agreement with the Company or any of its affiliated
companies. Amounts which are vested benefits or which the Executive is otherwise
entitled to receive under any such plan, program or policy, or any such contract
or agreement, at or subsequent to the Date of Termination shall be payable in
accordance with such plan, program or policy, or such contract or agreement,
except as explicitly modified by the Plan. 

6. Full Settlement. The Company’s obligation to make the payments provided for in the Plan to
an Executive and otherwise to perform its obligations hereunder shall not be
affected by any set-off, counterclaim, recoupment, defense or other claim, right
or action which the Company may have against the Executive or others. In no
event shall the Executive be obligated to seek other employment or take any
other action by way of mitigation of the amounts payable to the Executive under
any of the provisions of the Plan and except as specifically provided in Section
4(a)(ii), such amounts shall not be reduced whether or not the Executive obtains
other employment. 

7

7. Parachute Limitation. 

(a) Notwithstanding any other provision of the
Plan, in the event that any amount or benefit that may be paid or otherwise
provided to or in respect of an Executive by or on behalf of the Company or any
affiliate, whether pursuant to the Plan or otherwise (collectively, “Covered
Payments”), is or may become subject to the tax imposed under Section 4999 of
the Code (or any successor provision or any comparable provision of state, local
or foreign law) (“Excise Tax”), then the portion of the Covered Payments that
would be treated as “parachute payments” under Code Section 280G (“Covered
Parachute Payments”) may be reduced so that the Covered Parachute Payments, in
the aggregate, are reduced to the Safe Harbor Amount (as defined below). For
purposes of this Plan, the term “Safe Harbor Amount” means that portion of the
monetary value of the Covered Payments, whether either (i) provided to the Executive in full, or (ii)
provided to the Executive as to such lesser extent which would result in no
portion of such benefits being subject to the Excise Tax, whichever of the
foregoing amounts described in (i) or (ii), when taking into account applicable
federal, state, local and foreign income and employment taxes, the Excise Tax,
and any other applicable taxes, results in the receipt by the Executive, on an
after-tax basis, of the greatest amount of benefits, notwithstanding that some
portion of such benefits may be taxable under the Excise Tax. In the event that
it is determined that the amount of any Covered Payments will be reduced in
accordance with this Section 7(a), the same independent tax professional
experienced in the completion of the calculations described in this Section 7
(“Tax Professional”) making the determinations described in Section 7(b) below
shall designate which of the Covered Payments shall be reduced and to what
extent. In the event that it is determined that a reduction of the Covered
Payments would not result in a greater after-tax amount of benefits under the
Plan to the Executive, then no reduction shall be made under this Section
7(a).

(b) The determination of (i)
whether an event described in Section 280G(b)(2)(A)(i) of the Code has occurred,
(ii) the value of any Covered Parachute Payments and the Safe Harbor Amount,
(iii) whether any reduction in the Covered Payments is required under Section
7(a), and (iv) the amount of any such reduction, shall be made initially by the
Tax Professional. The Tax Professional shall be selected by the Executive, or if
the Executive fails to select a Tax Professional within thirty (30) days
following the Date of Termination, by the Committee (as constituted prior to the
occurrence of any Change in Control). For purposes of making the calculations
required by this Section 7, the Tax Professional may make reasonable assumptions
and approximations concerning applicable taxes and may rely on reasonable, good
faith interpretations concerning the application of the Code, and other
applicable legal authority. The Company and the Executive shall furnish to the
Tax Professional such information and documents as the Tax Professional may
reasonably request in order to make a determination under this Section 7. The
Company shall bear and be solely responsible for all costs the Tax Professional
may reasonably incur in connection with any calculations contemplated by this
Section 7.

(c) If, notwithstanding any
reduction described in Section 7(a), the IRS determines that an Executive is
liable for the Excise Tax as a result of the receipt of any Covered Payments,
then the Executive shall be obligated to pay back to the Company, within thirty
(30) days after a final IRS determination or in the event that the Executive
challenges the final IRS determination, a final judicial determination, a
portion of the Payments equal to the “Repayment Amount.” The Repayment Amount
shall be the smallest such amount, if any, as shall be required to be paid to
the Company so that the Executive’s net after-tax proceeds with respect to the
Covered Payments (after taking into account the payment of the Excise Tax and
all other applicable taxes imposed on such benefits) shall be maximized. The
Repayment Amount shall be zero if a Repayment Amount of more than zero would not
result in the Executive’s net after-tax proceeds with respect to the Covered
Payments being maximized. If the Excise Tax is not eliminated pursuant to this
Section 7(c), the Executive shall pay the Excise Tax. 

8

(d) Notwithstanding any other
provision of this Section 7, if (i) there is a reduction in the payments to an
Executive as described in this Section 7, (ii) the IRS later determines that the
Executive is liable for the Excise Tax, the payment of which would result in the
maximization of the Executive’s net after-tax proceeds (calculated as if the
Executive’s benefits had not previously been reduced), and (iii) the Executive
pays the Excise Tax, then the Company shall pay to the Executive those payments which were reduced pursuant to this
Section 7 as soon as administratively possible after the Executive pays the
Excise Tax so that the Executive’s net after-tax proceeds with respect to the
payment of the Covered Payments are maximized. 

8. Post Termination
Obligations.

(a) Proprietary Information Defined. “Proprietary Information” is all information and
any idea in whatever form, tangible or intangible, pertaining in any manner to
the business of the Company or any of its affiliated companies, or to its
clients, consultants, or business associates, unless: (i) the information is or
becomes publicly known through lawful means; (ii) the information was rightfully
in an Executive’s possession or part of his general knowledge prior to his
employment by the Company; or (iii) the information is disclosed to the
Executive without confidential or proprietary restriction by a third party who
rightfully possesses the information (without confidential or proprietary
restriction) and did not learn of it, directly or indirectly, from the
Company.

(b) General Restrictions on Use of Proprietary
Information. Each Executive
covered by the Plan agrees to hold all Proprietary Information in strict
confidence and trust for the sole benefit of the Company and not to, directly or
indirectly, disclose, use, copy, publish, summarize, or remove from Company’s
premises any Proprietary Information (or remove from the premises any other
property of the Company), except (i) during his employment to the extent
necessary to carry out the Executive’s responsibilities under this Plan, (ii)
after termination of his employment as specifically authorized in writing by the
Board, and (iii) pursuant to a subpoena. 

(c) Non-Solicitation and Non-Raiding. To forestall the disclosure or use of
Proprietary Information in breach of Section 8(b), and in consideration of this
Plan, each Executive covered by this Plan agrees that for a period of two (2)
years after termination of his employment, he shall not, for himself or any
third party, directly or indirectly (i) divert or attempt to divert from the
Company (or any of its affiliated companies) any business of any kind in which
it is engaged, including, without limitation, the solicitation of its customers
as to products which are directly competitive with products sold by the Company
at the time of the Executive’s termination, or interference with any of its
suppliers or customers, or (ii) solicit for employment any person employed by
the Company, or by any of its affiliated companies, during the period of such
person’s employment and for a period of one year after the termination of such
person’s employment with the Company. 

(d) Contacts with the Press. Following termination, each Executive covered by
this Plan will continue to abide by the Company’s policy that prohibits
discussing any aspect of Company business with representatives of the press
without first obtaining the permission of the Company’s corporate communications
group. 

9

(e) Non-Disparagement. Each Executive covered by this Plan agrees that
he will not do or say anything that could reasonably be expected to disparage or
impact negatively the name or reputation in the marketplace of the Company or
any of its employees, officers, directors, stockholders, members, principals or
assigns. Nothing herein shall preclude Executive from complying with applicable
disclosure requirements, responding truthfully to any legal process or
truthfully testifying in a legal or regulatory proceeding, provided that, to the
extent permitted by law, Executive promptly informs the Company of any such
obligation prior to participating in any such proceedings. The Company likewise
agrees that it will not release any information or make any statements, and it shall instruct its officers,
directors and other representatives who may reasonably be viewed as speaking on
its behalf not to say anything that could reasonably be expected to disparage or
impact negatively the name or reputation in the marketplace of an Executive.
Nothing herein shall preclude the Company from complying with applicable
disclosure requirements, responding truthfully to any legal process or
truthfully testifying in a legal or regulatory proceeding, provided that to the
extent permitted by law, the Company will promptly inform an Executive in
advance if they have reason to believe such response or testimony will directly
relate to such Executive.

(f) Remedies. Nothing in this Section 8 is intended to limit any remedy of the
Company under the California Uniform Trade Secrets Act (California Civil Code
Section 3426), or otherwise available under law. Furthermore, each Executive
covered by the Plan and the Company agrees that the covenants contained in this
Section 8 are reasonable and enforceable under the circumstances, and further
agrees that if in the opinion of any court of competent jurisdiction any such
covenant is not enforceable in any respect, such court will have the right,
power and authority to sever or modify any provision or provisions of such
covenants as to the court appear unenforceable and to enforce the remainder of
the covenants as so amended. Each Executive covered by the Plan shall also
acknowledge and agree that the remedy at law available to the Company for breach
of any of the Executive’s obligations under this Section 8 would be inadequate,
and that damages flowing from such a breach may not readily be susceptible to
being measured in monetary terms, so therefore such Executive acknowledges,
consents and agrees that, in addition to any other rights and remedies that the
Company may have at law, in equity or under the Plan (subject to the limitation
set forth in Section 8(g) below), upon adequate proof of the Executive’s
violation of any such provision of this Section 8, the Company will be entitled
to immediate injunctive relief and may obtain a temporary order restraining any
threatened or further breach, without the necessity of proof of actual damage or
posting of any bond. 

(g) No Deferral or Withholding by the
Company. In no event shall an
asserted violation of the provisions of this Section 8 constitute a basis for
deferring or withholding any amounts otherwise payable to an Executive pursuant
to this Plan. 

9. Successors. 

(a) The rights and obligations
of an Executive under the Plan are personal to that Executive and without the
prior written consent of the Company, no such right shall be assignable by an
Executive otherwise than by will or the laws of descent and distribution. The
rights of Executive under this Plan shall inure to the benefit of and be
enforceable by the Executive’s legal representatives. 

(b) This Plan shall inure to
the benefit of and be binding upon the Company and its successors and assigns.

10

(c) The Company will require
any successor (whether direct or indirect, by purchase, merger, consolidation or
otherwise) to all or substantially all of the business and/or assets of the
Company to assume expressly and agree to administer this Plan in the same manner
and to the same extent that the Company would be required to perform it if no
such succession had taken place. As used in the Plan, “Company” shall mean the
Company as hereinbefore defined and any successor to its business and/or assets
as aforesaid which assumes and agrees to perform the Plan by operation of law,
or otherwise.

10. Executive Acknowledgment. Each Executive covered by this Plan shall acknowledge that (a) he has
consulted with or has had the opportunity to consult with independent counsel of
his own choice concerning the Plan and has been advised to do so by the Company,
and (b) he has read and understands the Plan, is fully aware of its legal
effect, and has agreed to participate under its terms and conditions freely
based on his own judgment. 

11. Section 409A. To the extent applicable, it is intended that the Plan and any payment
made hereunder shall comply with the requirements of Section 409A of the Code,
and any related regulations or other guidance promulgated with respect to such
Section by the U.S. Department of the Treasury or the Internal Revenue Service
(“Section 409A”). Any provision that would cause the Plan or any payment hereof
to fail to satisfy Code Section 409A shall have no force or effect until amended
to the minimum extent required to comply with Section 409A, which amendment may
be retroactive to the extent permitted by Section 409A. 

12. Administration and Claims.

(a) Administration. The “Administrator” shall be the Committee. The
Administrator shall have the exclusive discretion and authority to establish
rules, forms, and procedures for the administration of the Plan, and to construe
and interpret the Plan and to decide any and all questions of fact,
interpretation, definition, computation or administration arising in connection
with the operation of the Plan, including, but not limited to, the eligibility
to participate under the Plan, the amount of benefits paid under the Plan, and
the timing of payments under the Plan. For decisions made by the Administrator
prior to the occurrence of a Change in Control that do affect benefits payable
under the Plan on account of the occurrence of the termination of an Executive
during the Severance Protection Period, the Administrator’s decisions shall not
be subject to review unless they are found to be unreasonable or not to have
been made in good faith. For decisions made by the Administrator at or after the
occurrence of a Change in Control that affect benefits payable under the Plan on
account of the occurrence of the termination of an Executive during the
Severance Protection Period, the Administrator’s decisions shall be subject to
review. As used in this Section 12, “review” shall mean review
as provided by applicable law; further, nothing in this Section 12 is intended
to abridge any of the rights of an Executive under Section 16(b) of this Plan.
The Administrator may appoint one or more individuals and delegate such of its
powers and duties as it deems desirable to any such individual(s), in which case
every reference herein made to the Administrator shall be deemed to mean or
include the appointed individual(s) as to matters within their jurisdiction.

(b) Claims Procedure. If an individual (“Claimant”) believes that he
is entitled to a benefit under this Plan that is greater than the benefit about
which the Claimant has received or received notice under this Plan, the Claimant
may submit a written application to the Administrator or its delegate within 90
days of having not received or been denied such greater benefit. The Claimant
will be notified of the approval or denial of this application within 30 days of
the date that the Administrator (or its delegate) receives the application. If
the claim is denied in whole or in part, the notification will state specific
reasons for the denial, reference the provisions of the Plan on which the denial
is based, and notify the Claimant of the right to initiate an arbitration
proceeding in accordance with Section 12(c). The Claimant must exhaust the
procedures set forth in this Section 12(b) before initiating an arbitration
proceeding relating to a claim for benefits under this Plan in accordance with
Section 12(c). Each Executive agrees as a condition of receiving benefits under
this Plan that arbitration is the exclusive dispute resolution mechanism with
respect to this Plan following a Claimant's exhaustion of the procedures
described in this Section 12(b). 

11

(c) Arbitration. Within one (1) year following a Claimant's exhaustion of the procedures
in Section 12(b), any remaining controversy relating to this Plan shall be
settled by the Claimant and the Company solely pursuant to final and binding
arbitration before a single arbitrator in accordance with the then current
commercial arbitration rules of the American Arbitration Association and
governed by California law except to the extent preempted by the Employee
Retirement Income Security Act of 1974, as amended (“ERISA”), and judgment on
the award rendered by the arbitrator may be entered by any court having
jurisdiction thereof. Failure by the Claimant to initiate arbitration within the
one (1) year time period set forth above shall prevent the Claimant from any
pursuit of such claim by any means, whether through arbitration or otherwise,
and the resolution of such claim upon the completion of the claims procedure set
forth in Section 12(b) shall be final and binding on Claimant and any and all
successors in interest. The arbitrator shall determine whether to affirm, modify
or reverse the Administrator's (or its delegate's) denial of the appeal, which
determination shall be made in good faith by the arbitrator. The arbitrator
shall have no power to alter, add to, or subtract from any provision of the
Plan. The arbitrator’s decision shall be final and binding on all parties, if
warranted on the record and reasonably based on applicable law and the
provisions of this Plan. Each party shall bear its own attorney’s fees, but the
Company shall bear the costs and expenses of arbitration. The location of the
arbitration shall be within fifty (50) miles of the last place of employment
with the Company of the Executive with respect to whose potential benefit under
the Plan the claim is brought. Service of legal process should be directed to
the General Counsel of Clorox as provided in Section 15(b) below. Process may
also be served on the Corporate Secretary of Clorox in the same manner. Clorox’s
employer identification number is 31-0595760. Clorox’s address and telephone
number are: 1221 Broadway, Oakland, CA 94612, (510) 271-7000.

(d) Injunctive Relief. Notwithstanding the other provisions of this
Section 12 or any other provision of the Plan to the contrary, no claim or
controversy for injunctive or equitable relief contemplated by or allowed under
applicable law pursuant to Section 8 of the Plan will be subject to arbitration
under this Section 12, but will instead be subject to determination in a court
of competent jurisdiction in the State of California, County of Alameda, which
court shall apply California law without reference to the conflict of laws
provisions thereof. 

13. Severability. If any one or more of the provisions contained in the Plan, or any
application thereof, shall be invalid, illegal or unenforceable in any respect,
the validity, legality and enforceability of the remaining provisions contained
herein and all other applications thereof shall not in any way be affected or
impaired thereby. The Plan shall be construed and enforced as if such invalid,
illegal or unenforceable provision has never comprised a part hereof, and the
remaining provisions hereof shall remain in full force and effect and shall not
be affected by the invalid, illegal or unenforceable provision or by its
severance herefrom. In lieu of such invalid, illegal or unenforceable provisions
there shall be added automatically as a part hereof a provision as similar in
terms and economic effect to such invalid, illegal or unenforceable provision as
may be possible and be valid, legal and enforceable. 

12

14. Certain Definitions. 

(a) “Annual Base Salary” shall
mean the monthly base salary in effect for an Executive immediately prior to the
Date of Termination multiplied by twelve (12). Any reduction of an Executive’s
Annual Base Salary that provides the basis for the Executive to resign for Good
Reason shall be disregarded for purposes of the Plan. 

(b) “Annual Bonus” shall mean
the annual award an Executive receives in any year under the Company’s Annual
Incentive Plan (“AIP Plan”) and/or the Company’s Executive Incentive
Compensation Plan (“EIC Plan”) or any successors thereto. 

(c) “Average Annual Bonus”
shall mean the average Annual Bonus a given Executive received for the three (3)
completed fiscal years immediately preceding the Date of Termination, or the
average Annual Bonus for the actual number of completed fiscal years immediately
preceding the Date of Termination if less than three (3), provided that the
First Year Bonus Target, shall be used in the average computation for any year
in which the Executive was not eligible to participate in the AIP Plan and/or
the EIC Plan for the full fiscal year. 

(d) “Bonus Target” means the
Annual Bonus that an Executive would have received in a fiscal year under the
AIP Plan and/or the EIC Plan, if the target goals had been achieved. 

(e) “Cause” shall mean the
occurrence of any one of the following: 

(i) the willful and continued
failure of the Executive to perform substantially the Executive’s duties with
the Company or one of its affiliates (other than any such failure resulting from
incapacity due to physical or mental illness), after a written demand for
substantial performance is delivered to the Executive by the Board or authorized
representative of the Board which specifically identifies the manner in which
the Board believes that the Executive has not substantially performed the
Executive’s duties, or 

(ii) the willful engagement by
the Executive in illegal conduct or gross misconduct which is materially and
demonstrably injurious to the Company. 

For purposes of this
provision, no act or failure to act on the part of the Executive shall be
considered “willful” unless it is done, or omitted to be done, by the Executive
in bad faith or without reasonable belief that the Executive’s action or
omission was in the best interests of the Company. Any act, or failure to act,
based upon authority given pursuant to a resolution duly adopted by the Board
or, other than with respect to the Chief Executive Officer, upon the
instructions of the Chief Executive Officer or a senior officer of the Company
or based upon the advice of counsel for the Company shall be conclusively
presumed to be done, or omitted to be done, by the Executive in good faith and
in the best interests of the Company. The cessation of employment of the
Executive shall not be deemed to be for Cause unless and until there shall have
been delivered to the Executive a copy of a resolution duly adopted by the
affirmative vote of not less than three-quarters of the entire membership of the
Board at a meeting of the Board called and held for such purpose (after
reasonable notice is provided to the Executive and the Executive is given an
opportunity, together with counsel, to be heard before the Board), finding that,
in the good faith opinion of the Board, the Executive is guilty of the conduct
described in subparagraph (i) or (ii) above, and specifying the particulars
thereof in detail. Executive’s employment shall end on the date such resolutions
are delivered to Executive or a later date specified in or established in
accordance with such resolutions (which shall generally not be any later than
the 30th day following the delivery of such resolutions. The delivery
of such resolutions shall constitute “Notice of Termination for Cause”.

13

(f) “Date of Termination”
shall mean (i) if the Executive’s employment is terminated by the Company for
Cause, the date of receipt of the Notice of Termination for Cause or any later
date specified therein, as the case may be, (ii) if the Executive’s employment
is terminated by the Executive for Good Reason, the 30th day following receipt
by the Company of the Notice of Termination for Good Reason if the Company fails
to cure the problem during the 30-day cure period, or any later date specified
in the Notice of Termination for Good Reason, as the case may be, (iii) if the
Executive’s employment is terminated by the Company other than for Cause or
Disability, the date on which the Company notifies the Executive of such
termination, and (iv) if the Executive’s employment is terminated by reason of
death or Disability, the date of death of the Executive or the Disability
Effective Date, as the case may be. 

(g) “Disability” shall mean
that the Executive (i) is unable to engage in any substantial gainful activity
by reason of any medically determinable physical or mental impairment that can
be expected to result in death or can be expected to last for a continuous
period of not less than 12 months, or (ii) is receiving income replacement
benefits for a period of not less than three (3) months under the Company’s
accident and health plans by reason of any medically determinable physical or
mental impairment that can be expected to result in death or can be expected to
last for a continuous period of not less than 12 months. 

(h) “Disability Effective
Date” shall mean the 30th day after receipt of written notice by
Executive of the Company’s intent to terminate Executive’s employment on account
of Disability; provided that Executive has not returned to full-time performance
of Executive’s duties during such 30-day period. 

(i) “Effective Date” shall
mean the date on which the Plan became effective, as set forth above.

(j) “First Year Bonus Target”
means an Executive’s Bonus Target as of the last day of the first fiscal year in
which he was eligible to participate in the AIP Plan and/or the EIC Plan.

(k) “Good Reason” shall mean
the occurrence of any of the following during the Severance Protection Period.
The Executive’s employment may be terminated by the Executive for Good Reason
provided the Executive delivers the written notice to the Company set forth in
Section 3(c)(ii) and the Company fails to cure the issue within the time period
set forth in such notice. For purposes of the Plan, “Good Reason” shall mean:

(i) the assignment to the
Executive of any duties inconsistent in any material respect with the
Executive’s position (including offices and reporting requirements), authority,
duties or responsibilities, as in effect immediately prior to the occurrence of
the Change in Control or the Date of Termination, whichever is greater, or any
other action by the Company which results in a material diminution in such
position, authority, duties or responsibilities, excluding for this purpose
either (A) an isolated, insubstantial and inadvertent action not taken in bad
faith and which is remedied by the Company promptly after receipt of notice
thereof given by the Executive or (B) for an Executive other than the Chief
Executive Officer, the assignment of Executive to a different position with a
substantially similar level and scope of authority, duties, responsibilities and
reporting relationship; 

14

(ii) any failure by the
Company to substantially comply with any of the material provisions of
Executive’s compensation plans, programs, agreements or arrangements as in
effect immediately prior to the Change in Control, which material provisions
shall consist of base salary, cash incentive compensation target bonus
opportunity, equity compensation opportunity in the aggregate, savings and
retirement benefits in the aggregate, and welfare benefits (including medical,
dental, life, disability, and severance benefits) in the aggregate, other than
an isolated, insubstantial and inadvertent failure not occurring in bad faith
and which is remedied by the Company promptly after receipt of notice thereof
given by the Executive;

(iii) the Company’s requiring
the Executive to be based at any office or location other than that in effect
immediately prior to the Change in Control or any office or location not
requiring Executive’s commute to increase by more than 50 miles from his commute
immediately prior to the Change in Control; 

(iv) any purported termination
by the Company of the Executive’s employment otherwise than as expressly
permitted by this Plan; or 

(v) any material failure by
the Company to comply with and satisfy Section 9(c) of the Plan. 

(l) “Severance Protection
Period” shall mean the period commencing on the day on which a Change in Control
occurs and ending on the second anniversary following such date and shall be
inclusive of both such dates. Such period shall also include the time prior to
the occurrence of a Change in Control if the Company either terminates an
Executive’s employment without Cause or acts in a manner that provides an
Executive with the basis to resign for a Good Reason, but in either case only if
(1) (i) such termination or other act is made at the request of a third party
who has expressed an intent or taken action to cause a Change in Control to
occur and (ii) a Change in Control in fact occurs on or before the first
anniversary of the termination of Executive’s employment that results in that
third party being in control of the ownership of the Company’s securities or
business or being a member of a group that acquires control of the ownership of
the Company’s securities or business, or (2) such termination or other act
occurs either (i) on or before three months prior to the occurrence of a Change
in Control or (ii) with respect to a negotiated transaction that results in a
Change in Control, between the time of the signing of a definitive agreement
with respect to such transaction and the closing of such transaction.

15. Miscellaneous. 

(a) The captions of this Plan
are not part of the provisions hereof and shall have no force or effect.
References to the masculine gender shall include the feminine gender and
references to the feminine gender shall include the masculine gender.

15

(b) All notices or other
communications required or permitted hereunder shall be made in writing. Notice
shall be effective on the date of delivery if delivered by hand upon receipt or
if delivered by use of the
recipient’s Company e-mail address upon receipt, on the first business day
following the date of dispatch if delivered utilizing next day service by a
recognized next day courier to the applicable address set forth below, or if
mailed, three (3) business days after having been mailed, postage prepaid, by
certified or registered mail, return receipt requested, and addressed to the
applicable address set forth below. Notice given by facsimile shall be effective
upon written confirmation of receipt of the facsimile. 

If to the
Executive: 

To the residence address for
the Executive last shown on the Company's payroll records. 

If to the
Company: 

The Clorox Company
1221
Broadway
Oakland, California 94612
Attention: General Counsel
Fax: 510-271-1696

or to such other address as
either party shall have furnished to the other in writing in accordance
herewith. 

(c) The invalidity or
unenforceability of any provision of this Plan shall not affect the validity or
enforceability of any other provision of this Plan. 

(d) The Company may withhold
from any amounts payable under this Plan such Federal, state, local or foreign
taxes as shall be required to be withheld pursuant to any applicable law or
regulation. 

(e) This Plan may not be
modified or amended in a manner adverse to the interests of Executive except as
provided in Section 1 above, or with respect to a given Participating Executive,
by an instrument in writing signed by the Executive consenting to such
modification or amendment. By an instrument in writing similarly executed,
either party may waive compliance by the other party with any provision of this
Plan that such other party was or is obligated to comply with or perform,
provided, however, that such waiver shall not operate as a waiver of, or
estoppel with respect to, any other or subsequent failure. No failure to
exercise and no delay in exercising any right, remedy, or power hereunder shall
operate as a waiver thereof, nor shall any single or partial exercise of any
right, remedy, or power hereunder preclude any other or further exercise thereof
or the exercise of any other right, remedy, or power provided herein or by law
or in equity. 

(f) This Plan shall terminate
only in accordance with the terms of Section 1 above. 

16

(g) Except as provided in
Section 5 herein, the terms of this Plan are intended by the Company to be the
final, complete and exclusive expression of its commitment regarding the
provision of benefits to be paid by the Company to an Executive in connection
with a certain types of termination of employment in connection with the
occurrence of a Change in Control. Except as permitted under Section 5 herein,
the terms of the Plan may not be contradicted by evidence of any prior or contemporaneous agreement and no
extrinsic evidence whatsoever may be introduced in any judicial, administrative,
or other legal proceeding involving the Plan. Each Executive covered by this
Plan shall set forth in writing his acceptance of the terms of the Plan,
including this Section 15(g), as a condition of participation in this Plan. The
Plan (and any other plan, program, contract, agreement, policy or other document
either incorporated by reference or referred to herein) supersede any prior
agreements or understandings, written or oral, between the Company and an
Executive concerning any or all matters addressed by this Plan. 

(h) All benefits under the
Plan shall be paid by the Company. The benefits payable under the Plan are
unfunded and shall be paid only from the general assets of the Company.

(i) In the event of any
inconsistency between (i) this Plan and (ii) any other plan, program, practice
or agreement in which the Executive participates or is a party, this Plan shall
control. 

END OF PLAN

17

EXHIBIT
GENERAL
RELEASE 

This document is an
important one. You should review it carefully and, if you agree to it, sign at
the end on the line indicated. 

You have 21 days to sign
this Release, during which time you are advised to consult with an attorney
regarding its terms. 

After signing this Release,
you have seven days to revoke it. Revocation should be made in writing and
delivered so that it is received by the Corporate Secretary of The Clorox
Company, 1221 Broadway, Oakland, CA 94612 no later than 4:30 p.m. Pacific time
on the seventh day after signing this Release. If you do revoke this Release
within that time frame, you will have no rights under it. This Release shall not
become effective or enforceable until the seven day revocation period has
expired. 

The agreement for payment
of consideration in paragraph 2 will not become effective until the seven day
revocation period has passed. 

This GENERAL RELEASE is
entered into between The Clorox Company (hereinafter referred to as "Employer")
and _____________________ (hereinafter referred to as "Executive"). Defined
terms used in this General Release not defined herein shall have the meaning set
forth in the Severance Plan (as defined below). Employer and Executive agree as
set forth herein, including as follows: 

1. Executive's regular
employment with Employer will terminate as of _________________, 20_. Executive is ineligible
for reemployment or reinstatement with Employer. 

2. Upon Executive's acceptance
of the terms set forth herein, the Employer agrees to provide the Executive with
compensation and benefits set forth in Section 4 of the Executive Change in
Control Severance Plan (the “Severance Plan”), which compensation and benefits
shall be provided subject to the terms and conditions of the Severance Plan, a
copy of which is attached to this General Release.

18

3. (a) In consideration of the
Employer providing Executive this compensation, Executive and Executive's heirs,
assignees and agents agree to release the Employer, all affiliated companies,
agents and employees and each of their successors and assigns (hereinafter
referred to as "Releasees") fully and finally from any claims, liabilities,
demands or causes of action which Executive may have or claim to have against
the Releasees at present or in the future, except for the following: (i) claims
for vested benefits under the terms of an employee compensation or benefit plan,
program or arrangement sponsored by the Company, (ii) claims for workers’
compensation benefits under any of the Company’s workers’ compensation insurance
policies or funds, (iii) claims related to Executive’s COBRA rights, and (iv)
claims for indemnification to which Executive is or may become entitled,
including but not limited to claims submitted to an insurance company providing
the Company with directors and officers liability insurance. The claims released
may include, but are not limited to, any tax obligations as a result of the
payment of consideration referred to in paragraph 2, and claims arising under
federal, state or local laws prohibiting discrimination in employment, including
the Age Discrimination in Employment Act (ADEA) or claims growing out of any
legal restrictions on the Employer's right to terminate its employees. Claims of
discrimination, wrongful termination, age discrimination, and any claims other
than for vested benefits are hereby released.

(b) By signing this document,
Executive agrees not to file a lawsuit to assert such claims. Executive also
agrees that if Executive breaches this provision, Executive will be liable for
all costs and attorneys' fees incurred by any Releasee resulting from such
action and shall pay all expenses incurred by a Releasee in defending any
proceeding pursuant to this Section 3(b) as they are incurred by the Releasee in
advance of the final disposition of such proceedings, together with any tax
liability incurred by the Releasee in connection with the receipt of such
amounts; provided, however, that the payment of such expenses incurred in
advance of the final disposition of such proceeding shall be made only upon
delivery to the Executive of an undertaking, by or on behalf of the Releasee, to
repay all amounts so advanced to the extent the arbitrator in such proceeding
affirmatively determines that the Executive is the prevailing party, taking into
account all claims made by any party to such proceeding. 

19

4. By signing this document,
Executive is also expressly waiving the provisions of California Civil Code section 1542, which provides
as follows:

"A general release does not
extend to claims which the creditor does not know or suspect to exist in his
favor at the time of executing the release, which if known by him must have
materially affected his settlement with the debtor." 

By signing this document,
Executive agrees and understands that Executive is releasing unknown as well as
known claims related to Executive's employment in exchange for the compensation
set forth above. 

5. Executive agrees to maintain
in complete confidence the terms of this Release, except as it may be necessary
to comply with a legally compelled request for information. It is agreed since
confidentiality of this Release is of the essence, damages for violation being
impossible to assess with precision, that $10,000 is a fair estimate of the
damage caused by each disclosure and is agreed to as the measure of damages for
each violation.

6. Executive agrees to comply
with the Post Termination Obligations set forth in Section 8 of the Severance Plan, a copy of which is
attached to this General Release, including Executive’s obligations regarding
(i) the use of Proprietary Information, (ii) non-solicitation and non-raiding,
(iii) contacts with the press, (iv) non-disparagement and (v) remedies.

7. Executive's execution of this
General Release and the absence of an effective revocation of such General
Release by Executive shall constitute Executive's resignation from all offices,
directorships and other positions then held with the Employer or any of its
affiliates, and any other position held for the benefit of or at the request of
the Employer or any of its affiliates, and Executive hereby agrees that this
General Release constitutes such resignation. Executive also agree to execute a
confirmatory letter of resignation if requested.

20

8. Executive hereby acknowledges
and agrees that all personal property and equipment furnished to or prepared by
the Executive in the course of or incident to his employment, belong to the
Employer and shall, if physically returnable, be promptly returned to the
Employer upon termination of his employment. "Personal property" includes,
without limitation, all books, manuals, records, reports, notes, contracts,
lists, blueprints, and other documents, computer media or materials, or copies
thereof, and Proprietary Information. Following termination, the Executive will
not retain any written or other tangible material containing any Proprietary
Information (as defined in the Severance Plan).

9. Nothing in this General
Release is intended to limit any remedy of the Employer under the California
Uniform Trade Secrets Act (California Civil Code Section 3426), or otherwise
available under law.

10. The provisions of this
General Release are severable and in the event that a court of competent
jurisdiction determines that any provision of this General Release is in
violation of any law or public policy, in whole or in part, only the portions of
this General Release that violate such law or public policy shall be stricken.
All portions of this General Release that do not violate any statute or public
policy shall not be affected thereby and shall continue in full force and
effect. Further, any court order striking any portion of this General Release
shall modify the stricken terms as narrowly as possible to give as much effect
as possible to the intent of the Employer and Executive under this General
Release.

21

11. Executive agrees to indemnify
and hold Employer harmless from and against any tax obligations for which
Executive may become liable as a result of this Release and/or payments made
pursuant to the Severance Plan, other than tax obligations of the Employer
resulting from the nondeductibility of any payments made pursuant to this
Release or the Severance Plan.

12. Agreeing to this Release
shall not be deemed or construed by either party as an admission of liability or wrongdoing by either
party.

13. This Release, the Severance
Plan and the plans of The Clorox Company referred to in the Severance Plan set
forth the entire agreement between Executive and the Employer. This Release is
not subject to modification except in writing executed by both of the parties.
The Clorox Company plan documents of plans referred to in the Severance Plans
may be amended in accordance with the provisions of those plans.

Executive acknowledges by
signing below that Executive has not relied upon any representations, written or oral, not set forth in
this Release. 

	THE CLOROX
      COMPANY	      	EXECUTIVE
	Signature:		Signature:
	Name:	 	Name:
	Title:		Date:
	Date:		

22Exhibit 10.2

Severance Plan for
Clorox Executive Committee Members
 Amended and Restated Effective as of November 20, 2014

The Severance Plan for
Clorox Executive Committee Members (the “Plan”) provides benefits in certain
instances to Participants who are employed by The Clorox Company, a Delaware
corporation (“Clorox”) or an Affiliate (as defined below) of Clorox
(collectively, the “Company”) and whose employment is involuntarily terminated.
The Plan was originally adopted effective as of May 19, 2010, and is hereby
amended and restated for the first time effective as of November 20, 2014.

Article
I Definitions 

1.1 “Affiliate” means any corporation or other entity that, now or hereafter,
directly or indirectly owns, is owned by, or is under common ownership with
Clorox. A corporation or other entity shall be deemed to be “owned” by Clorox
where Clorox owns more than fifty percent (50%) of the equity or other ownership
interest in, or has the power to vote on or direct the affairs of, such
corporation or other entity. 

1.2 “Average Annual Bonus” means the average annual incentive bonus that the
Participant received for the three (3) completed fiscal years immediately
preceding the Separation Date, or the average annual incentive bonus that the
Participant received for the actual number of completed fiscal years immediately
preceding the Separation Date if less than three (3), under the Company’s Annual
Incentive Plan (“AIP Plan”) and/or the Company’s Executive Incentive
Compensation Plan (“EIC Plan”). 

1.3 “Base
Salary” means the annual base salary of the Participant immediately prior to
termination of employment by the Company. 

1.4 “Board” means the Board of Directors of Clorox. 

1.5 “Bonus
Target” means the annual bonus that the Participant would have received in a
fiscal year under the AIP Plan and/or the EIC Plan, if the target goals had been
achieved.

1.6 “Code”
means the Internal Revenue Code of 1986, as amended.

1.7 “General Release” means a general release of all claims substantially in
the form attached as Exhibit 1, which may be amended by the Management
Development and Compensation Committee of Clorox’s Board (the “Committee”) at
its sole discretion from time to time. 

1.8 “Medical Insurance Coverage” means any medical, dental, vision and
prescription drug insurance coverage offered by the Company to its salaried
employees. 

1 

1.9 “Misconduct” means any act or omission of the Participant through which
he: (i) willfully neglects significant duties he is required to perform or
willfully violates a material Company policy, and, after being warned in
writing, continues to neglect such duties or continues to violate the specified
Company policy; (ii) commits a material act of dishonesty, fraud,
misrepresentation or other act of moral turpitude; (iii) acts (or omits to act)
with gross negligence in the course of employment; (iv) fails to obey a lawful
direction of the Board or, for Participants other than the Chief Executive
Officer, a corporate officer to whom he reports, directly or indirectly; or (v)
acts in any other manner inconsistent with the Company’s best interests and
values. 

No act or failure to act on
the part of the Participant shall be considered “willful” unless it is done, or
omitted to be done, by the Participant in bad faith or without reasonable belief
that the Participant’s action or omission was in the best interests of the
Company. Any act or failure to act based upon authority given pursuant to a
resolution duly adopted by the Board, upon the instructions of the Chief
Executive Officer (with respect to Participants other than the Chief Executive
Officer), or upon the advice of counsel for the Company shall be conclusively
presumed to be done or omitted to be done by the Participant in good faith and
in the best interests of the Company. The Participant shall not be deemed to
have committed an act or omission of Misconduct unless and until the Committee
determines that, in its good faith opinion, the Participant is guilty of conduct
described in subparagraphs (i) through (v) above, and so notifies the
Participant specifying the particulars thereof in detail.

1.10 “Participant” means a regular salaried employee of the Company scheduled
to work more than twenty (20) hours per week who is a member of the Clorox
Executive Committee (“CEC Member”), excluding an individual who is a CEC Member
on account of service as the Executive Chairman.

1.11 “Section 409A” means Section 409A of the Code, and any related
regulations or other guidance promulgated thereunder by the U.S. Department of
the Treasury or the Internal Revenue Service. 

1.12 “Separation Date” means the last day a Participant is employed by the
Company. 

1.13 “SERP”
means The Clorox Company Supplemental Executive Retirement Plan, as it may be
amended from time to time. 

1.14 “Specified Employee” means a Participant who, for purposes of Section
409A of the Code on the Separation Date, is classified as:

A. an
officer of the Company having annual compensation greater than the compensation
limit in Section 416(i)(1)(A)(i) of the Code, provided that no more than fifty
(50) officers of the Company shall be determined to be Specified Employees as of
any Separation Date;

B. a five
percent owner of the Company, regardless of compensation; or

C. a one
percent owner of the Company having annual compensation from the Company of more
than $150,000.

2 

1.15 “Year
of Service” means a consecutive or non-consecutive twelve-month period,
including approved leaves of absence, beginning on the first date that a
Participant performs an hour of service for the Company. If a Participant
separates service from the Company and is rehired within a twelve-month period,
any period of less than twelve consecutive months during which the Participant
does not perform an hour of service will be counted when computing Years of
Service. A twelve-month or longer period of separation will not be counted when
computing Years of Service. 

1.16 Other Definitions.

	       	AIP Plan	Section 1.2
	 	Bonus	Section 3.1(B)
	 	CIC Severance Plan	Section 3.5
	 	Claimant	Section 4.2
	 	Clorox	Recital
	 	COBRA	Section 3.1(D)
	 	Committee	Section 1.7
	 	Company	Recital
	 	EIC Plan	Section 1.2
	 	ERISA	Section 5.6
		Other Benefits	Section 3.5
		Plan	Recital
		Plan Administrator	Section
4.1

Article
II Termination of Employment 

2.1 By
Company for Misconduct. The Company may terminate the Participant's employment
for Misconduct (as defined in Section 1.9 above) at any time in accordance with
such definition. The Company shall pay the Participant the salary and other
amounts (e.g., accrued but unused vacation) to which he is entitled by law
through the Separation Date or under the terms of another compensation or
benefit plan, program or arrangement sponsored by the Company, and thereafter
the Company's obligations shall terminate. The Participant shall not be entitled
to any unpaid AIP Plan and/or EIC Plan award(s) for the prior fiscal year or the
fiscal year in which termination occurs, and the Participant shall not be
entitled to any benefits under this Plan. 

2.2 By
Participant. The Participant may, after satisfying any obligation to provide
advance written notice to the Company and continuing his employment until the
end of such period, terminate his employment, for any reason or no reason. The
Company shall pay the Participant the salary and other amounts (e.g., accrued
but unused vacation) to which he is entitled by law through the end of the
Participant's employment or under the terms of another compensation or benefit
plan, program or arrangement sponsored by the Company, and thereafter the
Company's obligations shall terminate. The Participant shall not be entitled to
any benefits under this Plan. 

3 

2.3 By
Company at Will. The Company may, at any time, with or without notice, and for
any reason or no reason, terminate the Participant's employment. If the Company
terminates the Participant’s employment other than for Misconduct or on account
of disability, the severance payment provisions of Article III shall apply and
the Company shall have no additional liability. The Company’s progressive
discipline policy and practice do not apply to such terminations.

Article
III Severance Benefits 

3.1 A
Participant whose employment with the Company is involuntarily terminated by the
Company other than for Misconduct or on account of disability is entitled to
receive the benefits described below: 

A. An
amount equal to two times the Participant’s Base Salary. In the case of the
Chief Executive Officer, an amount equal to the sum of (i) two times the CEO’s
Base Salary and (ii) two times the CEO’s Average Annual Bonus multiplied by 75%.
Such amount(s) shall be paid as soon as reasonably practicable and, subject to
Section 3.4, no later than thirty (30) days after the Separation Date.

B. An
amount equal to: 

	       				 	#
      of days in the current fiscal year					
	 	Bonus	       	X	       	through the Separation
      Date	       	X	       	75%	
						365					

Provided, however, that the
amount under 3.1(B) shall not be multiplied by 75%, in the case of the Chief
Executive Officer.

This amount under 3.1(B)
will be paid after the close of the fiscal year at the same time that AIP and
EIC Plan award payments are made to then employed executives; provided, however,
that if the Participant is a Specified Employee (as defined in Section 1.409A-1(i) of the Treasury Department Regulations) on the Separation Date, such
payments shall be made in accordance with Section 3.4 below. For purposes of
this section, "Bonus" means a percentage of the Participant's Bonus Target for
such fiscal year based upon the application of the overall corporate results
factor and the division and/or functional results factor, if applicable, of the
AIP and/or EIC Plan award calculation matrix. The Bonus will not be based on any
personal objectives factor; thus, the individual modifier to be applied to the
corporate and business and/or functional results, if any, will be calculated at
100%. 

Provided, however, that if
the Participant meets retirement eligibility on the Separation Date and thus is
eligible to receive a prorated bonus (“Retirement Bonus”) in the year of
separation in accordance with the terms of the Company’s AIP Plan, EIC Plan or
any other plan adopted by the Company, the Company may determine, in its sole
discretion, to either pay such Retirement Bonus or
pay the amount calculated in accordance with this Section 3.1(B), but it shall
not be obligated to pay both.

4 

C. If the
Participant as of the Separation Date is at least age 53 and has at least 8
Years of Service, and became eligible for participation in the SERP prior to its
closure to new participants in April 2007, but has not reached age 55 and/or has
less than 10 Years of Service, then for the purpose of determining early
retirement eligibility and calculating the Early Retirement Benefit (including,
but not limited to, determining the Normal Retirement Benefit, Early Retirement
Date and any reduction factors used in calculating the Early Retirement Benefit)
under the SERP the Participant’s age, if less than 55, will be deemed to be 55
years and 0 months on the Early Retirement Date and the Participant’s Years of
Service, if less than 10, will be deemed to be 10. Under these circumstances,
the Participant’s Early Retirement Benefit shall be calculated based upon the
Participant’s Compensation (as defined in the SERP) earned on or prior to the
Participant’s Separation Date.

D. The
Company shall provide the Participant with the benefits described in either
paragraph (i) or (ii) below, as follows:

	       	(i)	       	if the
      Participant participated in a Company self-insured medical plan (which
      does not satisfy the requirements of Section 105(h)(2)) of the Code
      immediately prior to the Separation Date, then (a) the Participant shall
      have the right to continue in such plan for a period of up to two (2)
      years (as determined below) following the date on which his coverage would
      otherwise terminate under such plan on account of termination of
      employment (without for this purpose taking into account any health care
      continuation rights under COBRA (as defined below)) and (b) the Company
      shall pay to the Participant, or cause to have paid on the Participant's
      behalf, an amount equal to the Company's portion of the premiums payable
      for a period of up to two (2) years (as determined below) starting from
      the Separation Date, under the Company's group health plans for providing
      Medical Insurance Coverage to the Participant and to those family members
      covered through Participant under the Medical Insurance Coverage in effect
      at the time of the Separation Date. Such coverage described in (a) above
      shall be provided under the group health plans in which Participant and
      his covered family members are participating at the time of the Separation
      Date or subsequently elect in accordance with the Company's applicable
      established procedures. Subject to Section 3.4, the Company shall pay or
      cause to have paid all amounts due under Section 3.1(D)(i)(b) in up to two
      annual installments, with the first installment due or credited within
      thirty (30) days after the Separation Date and a subsequent installment
      being made or credited on the anniversary thereof; provided, however, that
      either installment shall be prorated or eliminated to the extent that the
      Participant becomes eligible for other health coverage through a
      subsequent employer or reaches the age of 65 years during the year covered
      by the installment; or
		 
		(ii)		if paragraph (i)
      above is not applicable (because the Participant participated in a health
      benefit program to which Section 105(h) of the Code is not applicable,
      such as the Company's HMO immediately prior to the Separation Date), the
      Company shall continue to provide benefits under such health plan on the
      same basis as for an employee of the Company, for a period of up to two
      (2) years (as determined below) starting from the Separation
    Date.

5 

Each continued health
benefit described herein shall cease upon the earliest of: (i) two years from
the Separation Date; (ii) the Participant’s 65th birthday; or (iii)
the Participant’s eligibility for the same type of health benefit (i.e.,
medical, dental or vision coverage) under a subsequent employer’s group health
plans. Any period of participation hereunder shall not be subtracted from the
period of months for which the Participant is eligible for benefits under the
Consolidated Omnibus Budget Reconciliation Act of 1985 ("COBRA"). As such, upon
the cessation of coverage under this Section 3.1(D), the Participant shall be
entitled to elect continued coverage under COBRA (at the Participant's sole
expense) for the full period the Participant would have otherwise been entitled
to had the Participant's qualifying event (within the meaning of COBRA) occurred
on the date of such cessation of coverage. 

E. In
addition, solely for purposes of determining eligibility for retiree Medical
Insurance Coverage, the Participant shall be credited with two additional years
of age and service as of the Separation Date. If, taking into account these
additional credits, the Participant would meet the age and service requirements
for non-subsidized or subsidized participation under the Company’s retiree
Medical Insurance Coverage as and if offered to similarly situated former
employees, the Participant shall have the right to continued participation under
such retiree Medical Insurance Coverage on the same terms and conditions as for
such former employees, including applicable retiree premium contributions from
the Participant as in effect from time to time. Such right to participate shall
apply from the time such coverage would otherwise terminate pursuant to Section
3.1(D) above and shall continue until the Participant attains age 65; thereafter
the Participant may participate in the Company's post-65 retiree Medical
Insurance Coverage as and if it may exist from time to time in the future, if he
would be eligible to participate pursuant to the terms of that plan. The Company
reserves the right to amend or eliminate retiree Medical Insurance Coverage and
nothing in this paragraph guarantees such coverage. 

3.2 A
Participant shall not be entitled to the severance benefits set forth in this
Article III if the Participant is terminated by the Company but continues to be
employed by, or is offered employment with: (i) a third party or related entity
in connection with an outsourcing of such Participant’s position to such third
party or related entity; or (ii) any entity or individual that acquires all or
any portion of the assets or operations of the Company, or that assumes
responsibility for the performance of the obligations of all or any portion of
the Company. Notwithstanding the foregoing, if the continued or offered
employment referenced above in this Section 3.2 is in a location that is more
than 50 miles from the Participant’s current principal work location, and the
Participant elects not to continue or accept such employment, then the
Participant shall be deemed to have been involuntarily terminated by the Company
other than for Misconduct or on account of disability and therefore shall be
entitled to severance benefits, pursuant and subject to the other terms of this
Plan. 

3.3 As a
condition to receipt of the severance benefits set forth in this Article III, a
Participant must execute a General Release within the time specified therein. If
the Participant does not execute the General Release within the time provided,
or having executed such General Release, effectively revokes the General
Release, or fails to comply with his obligations and requirements under the
General Release, then the Company will not be obligated to provide any benefits
or payments of any kind to the Participant pursuant to this Plan and the
Participant shall be obligated to return to
the Company any payments or benefits previously provided to the Participant
pursuant to this Plan. 

6 

3.4 Notwithstanding the foregoing, if the Participant is a Specified Employee
on the Separation Date, all payments specified in this Article III that are
subject to Section 409A but are not made by March 15 of the year immediately
following the Separation Date, may be made to the extent that the amount does
not exceed two times the lesser of (i) the sum of the Participant's annualized
compensation based upon the annual rate of pay for services provided to the
Company for the taxable year preceding the termination, or (ii) the maximum
amount ($260,000 in 2014) that may be taken into account pursuant to Section
401(a)(17) of the Code for the year in which the Participant has terminated. Any
amounts exceeding such limit, may not be made before the earlier of the date
which is six (6) months after the Separation Date or the date of death of the
Participant. Furthermore, any payments pursuant to this Article III shall be
postponed until six (6) months following the end of any consulting period so
long as the Participant continues to work on a consulting basis for the Company
following termination and such consulting requires the Participant to work more
than 20% of his average hours worked during the 36 months preceding his
termination. Any payments that were scheduled to be paid during the six (6)
month period following the Participant's Separation Date, but which were delayed
pursuant to this Section 3.4, shall be paid without interest on, or as soon as
administratively practicable after, the first day following the six (6) month
anniversary of the Participant's Separation Date (or, if earlier, the date of
Participant's death). Any payments that were originally scheduled to be paid
following the six (6) months after the Participant's Separation Date shall
continue to be paid in accordance to their predetermined schedule. 

3.5 Notwithstanding any other provision of this Plan to the contrary, any
benefits payable to a Participant under this Plan shall be in lieu of any
severance benefits payable by the Company to such individual under any other
arrangement covering the individual, unless expressly otherwise agreed to by the
Company in writing. Further, in the event that the Participant is entitled to
receive severance benefits under any agreement or contract with the Company,
excluding The Clorox Company Executive Change in Control Severance Plan (“CIC
Severance Plan”); any plan, policy, program or other arrangement adopted or
established by the Company; under the Worker Adjustment and Retraining
Notification (WARN) Act, 29 U.S.C. § 2101 et seq., or other applicable law
providing for payments from Clorox or its subsidiaries or affiliates on account
of termination of employment, including pay in lieu of advance notice of
termination (“Other Benefits”), any severance benefits payable hereunder shall
be reduced by the Other Benefits. In the event that the Participant becomes
entitled to receive benefits under the CIC Severance Plan, any benefits payable
thereunder shall be in lieu of any severance benefits payable under this Plan.

3.6 Recoupment in Event of
Subsequently Discovered Misconduct. If, after the Separation Date of a
Participant, the Company discovers the Participant had engaged in acts or
omissions during the course of the Participant’s employment with the Company
that meet the definition of Misconduct (as defined in Section 1.9 above,
excluding any notice, prior written warning and other similar procedural terms
of that definition), then the Plan Administrator may immediately cease the
delivery of any further payments or benefits provided for under this Article III
and shall be entitled to recoup from the Participant for the benefit of the
Company any payments and/or the value of any
benefits provided to the Participant described in this Article III, plus
interest at the then prevailing prime rate. 

7 

Article
IV Plan Administration and Claims 

4.1 Plan
Administration. The Committee shall serve as the person responsible for
administration of this Plan ("Plan Administrator"). As the Plan Administrator,
the Committee has full discretionary authority to administer and interpret this
Plan, including discretionary authority to determine eligibility for
participation and for benefits under this Plan and to correct errors. The Plan
Administrator may delegate administrative duties to other Company personnel or
to any other committee. Any such delegation will carry with it the full
discretionary authority of the Plan Administrator to carry out these duties. Any
determination by the Plan Administrator or its delegate will be final and
conclusive upon all persons and shall be given the maximum deference allowed by
law. 

4.2 Claims
Procedure. If an individual (“Claimant”) believes that he or she is entitled to
a benefit under this Plan that is greater than the benefit about which the
Claimant has received notice under this Plan, the Claimant may submit a written
application to the Plan Administrator or its delegate within 90 days of having
been denied such a benefit. The Claimant will generally be notified of the
approval or denial of this application within 90 days (180 days if the Plan
Administrator (or its delegate) determines that an extension of time for
processing is required and provides written notice to the Claimant) of the date
that the Plan Administrator (or its delegate) receives the application. If the
claim is denied in whole or in part, the notification will state specific
reasons for the denial, reference this Plan provisions on which the denial is
based, include a description of any additional materials or information
necessary for the Claimant to perfect the claim and an explanation of why such
material or information is necessary, and describe the Plan's claims review
procedures. The Claimant will have 60 days to file an appeal of the denial with
the Plan Administrator (or its delegate). This appeal will include the reasons
for requesting an appeal, facts supporting the appeal and any other relevant
comments. The Plan Administrator (or its delegate), operating pursuant to its
discretionary authority to administer and interpret this Plan and to determine
eligibility for benefits under the terms of this Plan, will generally make a
final, written determination of the Claimant’s appeal within 60 days (120 days
if the Plan Administrator (or its delegate) determines that an extension of time
for processing is required and provides written notice to the Claimant) of
receipt of the request for review. If the appeal is denied in whole or in part,
the notification will state specific reasons for the denial, reference the Plan
provisions on which the denial is based, and notify the Claimant of the right to
initiate an arbitration proceeding in accordance with Section

4.3. The Claimant
must exhaust the procedures set forth in this Section 4.2 before initiating an
arbitration proceeding relating to a claim for benefits under this Plan in
accordance with Section 4.3. Each Participant agrees as a condition of
participating in this Plan that arbitration is the exclusive dispute resolution
mechanism with respect to this Plan following a Claimant's exhaustion of the
procedures described in this Section 4.2. 

8 

4.3 Arbitration. Within one (1) year following a Claimant's exhaustion of the
procedures in Section 4.2, any remaining controversy relating to this Plan shall
be settled by the Claimant and the Company solely pursuant to final and binding
arbitration before a single arbitrator in accordance with the then
current commercial arbitration rules of the American Arbitration Association,
and judgment on the award rendered by the arbitrator may be entered by any court
having jurisdiction thereof. Failure by the Claimant to initiate arbitration
within the one (1) year time period set forth above shall prevent the Claimant
from any pursuit of such claim by any means, whether through arbitration or
otherwise, and the resolution of such claim upon the completion of the claims
procedure set forth in Section 4.2 shall be final and binding on Claimant and
any and all successors in interest. The arbitrator shall determine whether to
affirm or reverse the Plan Administrator's (or its delegate's) denial of the
appeal, and shall reverse such denial if the Plan Administrator's (or its
delegate's) decision was arbitrary or capricious. The arbitrator shall have no
power to alter, add to, or subtract from any provision of this Plan. The
arbitrator’s decision shall be final and binding on all parties, if warranted on
the record and reasonably based on applicable law and the provisions of this
Plan. The arbitrator shall have no power to award any damages that are not
permitted by ERISA, and under no circumstances shall an award contain any amount
that in any way reflects any of such types of damages. Each party shall bear its
own attorney’s fees, but the Company shall bear the costs and expenses of
arbitration (provided that if the Company prevails in the arbitration, the
arbitrator may, in his or her discretion, require the Claimant to pay or
reimburse the Company for all or a portion of such costs and expenses). The
location of the arbitration shall be within fifty (50) miles of the last place
of employment with the Company of the Participant with respect to whose
potential Plan benefit the claim is brought. Service of legal process should be
directed to the Legal Services Department of Clorox. Process may also be served
on the Corporate Secretary of Clorox. Clorox’s employer identification number is
31-0595760. Clorox’s address and telephone number are: 1221 Broadway, Oakland,
CA 94612, (510) 271-7000.

Article
V Miscellaneous Provisions 

5.1 Assignment. To the fullest extent permitted by law, Plan benefits are not
assignable. 

5.2 Death
of Participant. If a Participant dies after an involuntary termination, the
benefit that otherwise would have been payable to the Participant will be paid,
in a single sum payment, as soon as administratively practicable to the
Participant’s surviving spouse, or if there is no such spouse, to the
Participant’s estate. 

5.3 Compliance. Plan benefits are conditioned on a Participant’s compliance
with any confidentiality agreement or release that the Participant has entered
into with Clorox and/or with an Affiliate in addition to any other requirement
or obligation set forth in this Plan or the General Release. 

5.4 Amendment and Termination. The Board or the Committee, by a signed
writing, may amend or terminate this Plan at any time, with or without notice;
provided, however, that this Plan may not be amended or terminated to reduce or
eliminate benefits that would otherwise be payable under this Plan to
Participants who are entitled to benefits under Article III as of the date such
amendment or termination is approved by the Board or the Committee, as
applicable.

9 

5.5 Continued Services. This Plan does not provide a Participant with any
right to continue employment with the Company or affect the right of the Company
to terminate the services of any individual at any time with or without cause.

5.6 Governing Law. This Plan is intended to be an unfunded welfare benefit
plan within the meaning of the Employee Retirement Income Security Act of 1974,
as amended (“ERISA”). To the extent applicable and not preempted by ERISA, the
laws of the State of California will govern this Plan. 

5.7 Plan
Year. This Plan’s fiscal records are maintained on a fiscal year basis with a
June 30 year end. 

5.8 Source
of Payments. Benefits payable under this Plan are not funded and are payable
only from the general assets of Clorox or the appropriate Affiliate. 

5.9 Section 409A. To the extent applicable, it is intended that this Plan and
any payment made hereunder shall comply with the requirements of Section 409A.
Any provision that would cause this Plan or any payment hereunder to fail to
satisfy Section 409A shall have no force or effect until amended to the minimum
extent required to comply with Section 409A, which amendment may be retroactive
to the extent permitted by Section 409A. 

5.10 Gender, Number and References. Except where otherwise indicated by the
context, any masculine term used herein also shall include the feminine, the
plural shall include the singular and the singular shall include the plural. Any
reference in this Plan to a Section of this Plan or to an act or code or to any
section thereof or rule or regulation thereunder shall be deemed to refer to
such Section of this Plan, act, code, section, rule or regulation, as may be
amended from time to time, or to any successor Section of this Plan, act, code,
section, rule or regulation. 

5.11 Severability. The provisions of this Plan are severable and in the event
that a court of competent jurisdiction determines that any provision of this
Plan is in violation of any law or public policy, in whole or in part, only the
portions of this Plan that violate such law or public policy shall be stricken.
All portions of this Plan that do not violate any statute or public policy shall
not be affected thereby and shall continue in full force and effect. Further,
any court order striking any portion of this Plan shall modify the stricken
terms as narrowly as possible to give as much effect as possible to the intent
of the Company under this Plan. 

5.12 Notices. All notices or other communications required or permitted
hereunder shall be made in writing. Notice shall be effective on the date of
delivery if delivered by hand, on the first business day following the date of
dispatch if delivered utilizing next day service by a recognized next day
courier to the applicable address set forth below, or if mailed, three business
days after having been mailed, postage prepaid, by certified or registered mail,
return receipt requested, and addressed to the applicable address set forth
below. Notice given by facsimile shall be effective upon written confirmation of
receipt of the facsimile. 

10 

If to the
Participant: 

To the residence address
for the Participant last shown on the Company’s payroll records. 

If to the
Company: 
The Clorox Company
1221 Broadway Oakland,
California 94612
Attention: General Counsel
Fax: 510-271-1696 

or to such other address as
either party shall have furnished to the other in writing in accordance
herewith. 

5.13 Waiver. No waiver of
any breach of any term or provision of this Plan by the Company shall be
construed to be, nor shall be, a waiver of any other breach of this Plan. No
waiver shall be binding unless in writing and signed by the Company. 

5.14 Tax Withholding. All
amounts or benefits payable pursuant to this Plan shall be subject to such
withholding taxes as may be required by law. 

11 

EXHIBIT 1 
GENERAL
RELEASE 

This document is an
important one. You should review it carefully and, if you agree to it, sign at
the end on the line indicated. 

You have 21 days to sign
this Release, during which time you are advised to consult with an attorney
regarding its terms. 

After signing this
Release, you have seven days to revoke it. Revocation should be made in writing
and delivered so that it is received by the Corporate Secretary of The Clorox
Company, 1221 Broadway, Oakland, CA 94612 no later than 4:30 p.m. on the seventh
day after signing this Release. If you do revoke this Release within that time
frame, you will have no rights under it. This Release shall not become effective
or enforceable until the seven day revocation period has expired.

The agreement for
payment of consideration in paragraph 2 will not become effective until the
seven day revocation period has passed. 

This GENERAL RELEASE is
entered into between The Clorox Company (hereinafter referred to as "Employer")
and _____________________ (hereinafter referred to as "Executive"). Defined
terms used in this General Release not defined herein shall have the meaning set
forth in the Severance Plan (as defined below). Employer and Executive agree as
set forth herein, including as follows: 

1. Executive's regular employment with Employer will terminate as of
_________________, 20_. Executive is
ineligible for reemployment or reinstatement with Employer. 

2. Upon
Executive's acceptance of the terms set forth herein, the Employer agrees to
provide the Executive with compensation and benefits set forth in Article III of
the Severance Plan for Clorox Executive Committee Members (the “Severance
Plan”), which compensation and benefits shall be provided subject to the terms
and conditions of the Severance Plan, a copy of which is attached to this
General Release.

12 

3. (a) In
consideration of the Employer providing Executive this compensation, Executive
and Executive's heirs, assignees and agents agree to release the Employer, all
affiliated companies, agents and employees and each of their successors and
assigns (hereinafter referred to as "Releasees") fully and finally from any
claims, liabilities, demands or causes of action which Executive may have or
claim to have against the Releasees at present or in the future, except for the
following: (i) claims for vested benefits under the terms of an employee
compensation or benefit plan, program or arrangement sponsored by the Company,
(ii) claims for workers’ compensation benefits under any of the Company’s
workers’ compensation insurance policies or funds, (iii) claims related to
Executive’s COBRA rights, and (iv) claims for indemnification to which Executive
is or may become entitled, including but not limited to claims submitted to an
insurance company providing the Company with directors and officers liability
insurance. The claims released may include, but are not limited to, any tax
obligations as a result of the payment of consideration referred to in paragraph
2, and claims arising under federal, state or local laws prohibiting
discrimination in employment, including the Age Discrimination in Employment Act
(ADEA) or claims growing out of any legal restrictions on the Employer's right
to terminate its employees. Claims of discrimination, wrongful termination, age
discrimination, and any claims other than for vested benefits are hereby
released.

(b) By signing this
document, Executive agrees not to file a lawsuit to assert such claims.
Executive also agrees that if Executive breaches this provision, Executive will
be liable for all costs and attorneys' fees incurred by any Releasee resulting
from such action and shall pay all expenses incurred by a Releasee in defending
any proceeding pursuant to this Section 3(b) as they are incurred by the
Releasee in advance of the final disposition of such proceedings, together with any tax liability incurred by the
Releasee in connection with the receipt of such amounts; provided, however, that
the payment of such expenses incurred in advance of the final disposition of
such proceeding shall be made only upon delivery to the Executive of an
undertaking, by or on behalf of the Releasee, to repay all amounts so advanced
to the extent the arbitrator in such proceeding affirmatively determines that
the Executive is the prevailing party, taking into account all claims made by
any party to such proceeding

13 

4. By
signing this document, Executive is also expressly waiving the provisions of
California Civil Code Section 1542,
which provides as follows:

"A general release does not
extend to claims which the creditor does not know or suspect to exist in his
favor at the time of executing the release, which if known by him must have
materially affected his settlement with the debtor." 

By signing this document,
Executive agrees and understands that Executive is releasing unknown as well as
known claims related to Executive's employment in exchange for the compensation
set forth above. 

5. Executive agrees to maintain in complete confidence the terms of this
Release, except as it may be necessary to comply with a legally compelled
request for information. It is agreed since confidentiality of this Release is
of the essence, damages for violation being impossible to assess with precision,
that $10,000 is a fair estimate of the damage caused by each disclosure and is
agreed to as the measure of damages for each violation.

6. Executive agrees that for a period of two years after termination of his
employment, he shall not, for himself or any third party, directly or indirectly
solicit for employment any person employed by the Employer, or any of its
affiliates, during the period of such person's employment and for a period of
one year after the termination of such person's employment with the
Employer.

14 

7. Executive's execution of this General Release and the absence of an
effective revocation of such General Release by Executive shall constitute
Executive's resignation from all offices, directorships and other positions then
held with the Employer or any of its affiliates, and any other position held for
the benefit of or at the request of the Employer or any of its affiliates, and
Executive hereby agrees that this General Release constitutes such resignation.
Executive also agree to execute a confirmatory letter of resignation if
requested.

8. Executive hereby acknowledges and agrees that all personal property and
equipment furnished to or prepared by the Executive in the course of or incident
to his employment, belong to the Employer and shall, if physically returnable,
be promptly returned to the Employer upon termination of his employment.
"Personal property" includes, without limitation, all books, manuals, records,
reports, notes, contracts, lists, blueprints, and other documents, computer
media or materials, or copies thereof, and Proprietary Information. Following termination, the Executive will not
retain any written or other tangible material containing any Proprietary
Information. "Proprietary Information" is all information and any idea in
whatever form, tangible or intangible, pertaining in any manner to the business
of the Employer or any its affiliates, or to its clients, consultants, or
business associates, unless: (i) the information is or becomes publicly known
through lawful means; (ii) the information was rightfully in the Executive's
possession or part of his general knowledge prior to his employment by the
Employer; or (iii) the information is disclosed to the Executive without
confidential or proprietary restriction by a third party who rightfully
possesses the information (without confidential or proprietary restriction) and
did not learn of it, directly or indirectly, from the Employer.

15 

9. Following termination, Executive will continue to abide by the Employer's
policy that prohibits discussing any aspect of the Employer's business with
representatives of the press without first obtaining the permission of the
Employer's public relations group. 

10. Nothing in this General Release is intended to limit any remedy of the
Employer under the California Uniform Trade Secrets Act (California Civil Code
Section 3426), or otherwise available under law.

11. The
provisions of this General Release are severable and in the event that a court
of competent jurisdiction determines that any provision of this General Release
is in violation of any law or public policy, in whole or in part, only the
portions of this General Release that violate such law or public policy shall be
stricken. All portions of this General Release that do not violate any statute
or public policy shall not be affected thereby and shall continue in full force
and effect. Further, any court order striking any portion of this General
Release shall modify the stricken terms as narrowly as possible to give as much
effect as possible to the intent of the Employer and Executive under this
General Release.

12. Executive agrees to indemnify and hold Employer harmless from and against
any tax obligations for which Executive may become liable as a result of this
Release and/or payments made pursuant to the Severance Plan, other than tax
obligations of the Employer resulting from the nondeductibility of any payments
made pursuant to this Release or the Severance Plan.

13. Agreeing to this Release shall not be deemed or construed by either party
as an admission of liability or
wrongdoing by either party.

14. This
Release, the Severance Plan and the plans of The Clorox Company referred
to in the Severance Plan set forth
the entire agreement between Executive and the Employer.

16 

This Release is not subject
to modification except in writing executed by both of the parties. The Clorox
Company plan documents of plans referred to in the Severance Plans may be
amended in accordance with the provisions of those plans.

Executive acknowledges by
signing below that Executive has not relied upon any representations, written or oral, not set forth in
this Release. 

Executive 

Dated: 

THE CLOROX
COMPANY

By:

Dated: 

17

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00239-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00239-of-00352.parquet"}]]