Document:

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                                                                   EXHIBIT 10(N)

                   JOHNSON & JOHNSON ESTATE PRESERVATION PLAN

                              SUMMARY DESCRIPTION

     Johnson & Johnson (the "Company") has established the Estate Preservation
Plan (the "EPP") to assist selected key employees of the Company to better plan
for their retirement and estate needs. The EPP provides for the Company and the
participant, or a trust created by the participant, to purchase a life insurance
policy on the life of the participant or the joint life of the participant and
spouse. The Split Dollar Agreement (the "Agreement," annexed to this Summary
Description as Annex 1) represents the controlling document regarding the
respective rights, benefits and obligations of the parties under the EPP and the
life insurance policy. The following is a description of the operative
provisions of the Agreement and the coordination of the EPP with the Executive
Income Deferral Plan. The EPP is separate and distinct from the Executive Income
Deferral Plan.

ELIGIBILITY TO PARTICIPATE

     1. Selected key executives who are also participants in the Executive
Income Deferral Program will be notified of their eligibility to participate in
the EPP.

     2. The Compensation Committee (the "Committee") may decide that a
participant is no longer eligible for participation due to a change in
employment status. If this happens, any Agreement(s) entered into prior to that
date will remain intact, however, the participant will no longer be eligible to
make future deferral commitments into the EPP, as described below.

ELECTION TO PARTICIPATE

     1. The participant may elect to participate in the EPP by agreeing to defer
receipt of some portion of current compensation, either salary, bonus or both.
The amounts deferred can be either a stated dollar amount or a percentage and
will be made on a form approved by the Committee.

     2. The participant can choose to have the amounts deferred only for the
next calendar year or for a period of up to 5 years. The elections are
irrevocable after a ninety day period.

     3. If the participant elects to defer a percentage of salary or bonus, the
amount which will be contributed to the EPP will be fixed as of the initial
election -- in other words, the amount to be deferred will not be increased as a
result of increasing salary or bonus.

     4. The participant may also choose to waive the right to receive all or a
portion of current account balances under the Executive Income Deferral Program
in favor of participation in the EPP.

     5. The amount that the participant chooses to defer (or waive) will be
contributed to the EPP in the form of premiums on a life insurance contract.

POLICY OWNERSHIP AND PROVISIONS

     1. The participant will indicate at the time of the deferral election
whether the insurance contract is on the joint life of the participant and
spouse, or on the participant's life alone. The participant (or a trust created
by the participant to accomplish estate planning objectives) will be the owner
of the policy (the "Owner").

     2. The participant will enter into a split dollar agreement giving certain
rights to the Company, as security for the amount of the premiums that it has
paid into the policy.

     3. The Company's interest in the policy cash values or death benefit will
be limited to the lesser of the cash value or cumulative premiums paid.

     4. The Owner's interest in the policy will be anything in excess of the
Company's interest.
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     5. In the event of the Company's insolvency, all of the cash value in the
policy will be subject to creditors.

     6. The Company will recover its interest in the policy upon the death of
the insured(s) or the termination of the split dollar agreement.

     7. The Owner (participant or trust) will have the right to choose the funds
in which the policy cash values are invested.

     8. Both the participant and the Company can assign their respective
interests in the policy to an individual or a trust.

     9. The Owner (participant or trust) will not be permitted to withdraw or
borrow any portion of the cash value without the written consent of the Company.

     10. The split dollar agreement will terminate at the death of the
insured(s), agreement of both parties, failure of the Company to pay premiums
due, or the insured's failure to complete the underwriting or policy issuance
process.

     11. The participant will be provided with a financial projection based on
the amount of compensation that the participant elects to defer (or waive). This
projection is not a guarantee of policy performance, but only a projection based
on certain assumptions.

TAXATION TO PARTICIPANT

     1. The participant will recognize "imputed income" annually on the value of
the death benefit provided under the agreement.

     2. The value will be determined based on the insurance carriers one-year
term rates for either the participant alone or on the joint lives of participant
and spouse.
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                                                                      ANNEX 1 TO
                                                               JOHNSON & JOHNSON
                                                        ESTATE PRESERVATION PLAN

                             SPLIT DOLLAR AGREEMENT

     This Split Dollar Agreement is entered into as of
     -----------------------------------------,
     --------------, by and between JOHNSON & JOHNSON, a New Jersey corporation
(the "Employer"), and
------------
------------
------------------------, an individual (the "Employee"), or
------------------------
------------------------, a trust created by the Employee (hereinafter, the
Employee or this trust shall be referred to as the "Owner" when referred to in
that capacity).

                                    RECITALS

     Whereas, the Employee performs specified tasks for the Employer and is
eligible to participate in the Estate Preservation Plan; and

     Whereas, the Employee wishes to provide protection to his family in the
event of death under a policy of insurance, and the Employer is willing to pay
the premiums due on such life insurance as an additional benefit to the
Employee; and

     Whereas, Owner will be the sole owner and possessor of the Policy and
assign an interest in the Policy's death benefit and cash value to the Employer
as collateral to secure repayment of Employer's premium payments with respect to
the Policy; and

     Whereas, it is the intent of the Employer and Owner to define the limited
extent of the Employer's security interest in the Policy;

     Now, therefore, Employer and Owner mutually agree that:

(1) INTERESTS IN THE POLICY

     The Policy, which is the subject of this Split Dollar Agreement, is issued
by
------------------------
------------------------ (the "Insurer") Policy Number
------------------------ insuring the life of the Employee, or the joint lives
of the Employee and the Employee's spouse (hereafter, referred to as the Insured
or Insureds as appropriate). The Employer's interest in the cash value of the
Policy (the "Employer's Interest") shall be equal to the total amount of the
premium payments made on the Policy, however, if this Agreement remains in force
for more than fifteen years from the date of execution of this Agreement, then
in that event only, the Employer's Interest shall be accumulated at interest
equal to a rate of 6.4575% per annum from that date forward. The Owner's
interest in the cash value of the Policy (the "Owner's Interest") shall be equal
to the remaining cash value of the Policy, if any, in excess of the Employer's
Interest, reduced by any distributions made to the Owner.

(2) PREMIUM PAYMENTS

     On or before the due date of each premium payment on the Policies, or
within the grace period provided therein, Employer will pay the entire premium
due on the Policy. The Employer will make premium payments consistent with the
projection attached to this Agreement as Exhibit A, but in no event beyond the
termination of Employee's service with the Employer. The Employer reserves the
right to make additional premium payments in its sole discretion. The Employee
shall have imputed income each year in an amount equal to the annual cost of
current death benefit protection on the life of the Employee, measured by the
lower of (a) the PS 58 rate, as set forth in Revenue Ruling 55-747 (or the
corresponding applicable provision of any future Revenue Ruling), or (b) the
Insurer's current published premium rate for annually renewable term insurance
for standard risks. However, if the Policy was initially issued covering the
joint lives of the Employee and the Employee's spouse, then while both Insureds
are alive, the Employee shall have imputed income each year in an amount equal
to the annual cost of current death benefit protection on the life of the
Insureds,
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measured by the lower of (a) the rate designated as the PS 38 rate (or the
corresponding applicable provision of any future Revenue Ruling), or (b) the
Insurer's current published premium rate for annually renewable term insurance
for standard risks on the joint lives of the Insureds. Upon the first death of
one of the Insureds, the remaining Insured shall have imputed income each year,
in an amount equal to the annual cost of current death benefit protection on the
life of the remaining Insured, measured by the lower of (a) the PS 58 rate, as
set forth in Revenue Ruling 55-747 (or the corresponding applicable provision of
any future Revenue Ruling), or (b) the Insurer's current published premium rate
for annually renewable term insurance for standard risks.

(3) DEATH BENEFIT AMOUNTS

     In the event of Employee's death prior to the termination of this
Agreement, the death benefit payable to the Employer (or the Employer's
designated beneficiaries) under this Agreement shall be equal to the Employer's
Interest in the Policy at the time of Employee's death.

     In the event of the Employee's death prior to the termination of this
Agreement, the death benefit payable to the Owner (or the Owner's designated
beneficiaries) shall be the excess of the total death proceeds under the Policy
less the amount payable to the Employer (or the Employer's designated
beneficiaries). Following the termination of this Agreement and upon the
satisfaction of the Employer's Interest in the Policy, the Owner's death benefit
will be equal to the total death benefit provided by the Policy.

     Owner understands that sufficiency of cash value in the Policy to provide
expected amounts of death benefit under this Agreement may vary as a result of
Policy performance and duration of premium payments and this is in no event
guaranteed by the Employer or the Insurer.

(4) OWNERSHIP AND RIGHTS IN THE POLICY

     The Policy will be owned exclusively by the Owner or the Owner's Assignee
(for purposes of this Agreement, Owner's Assignee shall be included in the
definition of Owner). While this Agreement is in effect, the Employer has a
security interest in the Policy limited exclusively to: (a) that portion of the
cash value of the Policy equal to the Employer's Interest in the Policy; or (b)
an amount of the death benefit equal to the Employer's Interest in the Policy.
In addition, the Owner shall have the right to make any investment choices
permitted by the Policy with respect to the cash value of the Policy, and
Employer shall agree to waive this right as long as this Agreement remains in
force in accordance with the established procedures of the Insurer. The Owner's
rights include the right to irrevocably assign any of their rights under the
Policy, with the consent of the Employer and the Insurer and to select and
change beneficiaries to receive Owner's death benefits. The Owner will not be
permitted to withdraw all or any portion of the cash value of the Policy, borrow
against, or partially or totally surrender the Policy as long as the Collateral
Assignment remains in force, unless the Employer consents in writing to such
distribution. Any other rights in the Policy other than those specifically
mentioned in this Agreement must be exercised with the written consent of both
the Owner and the Employer.

(5) ASSIGNMENT OF POLICY TO SECURE EMPLOYER'S PAYMENTS

     To secure Employer's Interest in the Policy under this Agreement, Owner
will collaterally assign the Policy to the Employer by signing the separate
Collateral Assignment. The Collateral Assignment cannot be altered without the
Employer's, Owner's, and Insurer's consent.

(6) TERMINATION OF SPLIT DOLLAR AGREEMENT

     This Split Dollar Agreement, and all obligations of the Employer to pay
premiums under it, will terminate upon the earliest to occur of the following:

     - Death of the Insured(s);

     - Written agreement of both the Owner and the Employer to terminate this
       Agreement;

     - Failure of the Employer to pay any premiums due as set forth in this
       Agreement, in which event the Employer shall forfeit any and all Interest
       in the Policy; and,
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     - Failure of the Insured(s) or Owner to complete all necessary requirements
       for the Insurer to issue a policy.

     Upon Termination of this Agreement, the Employer shall receive the
Employer's Interest, if any, in the Policy as soon as is practical, but in no
event shall receipt be later than sixty (60) days from the earliest of the dates
listed above. In the event of termination of this Agreement for reason other
than the death of the Employee, the Employer's Interest in the Policy and under
this Agreement shall be satisfied either directly from the cash value of the
Policy or by direct payment by the Owner, at the discretion of the Owner. In
this event, the recovery of the Employer's Interest shall be limited to the cash
surrender value of the Policy at that time. In the event of Termination of this
Agreement by reason of the death of the Employee, the Employer's Interest in the
Policy and under this Agreement shall be satisfied through direct payment from
the Insurer from the Policy proceeds.

(7) PAYMENT OF PROCEEDS OR CASH VALUE TO EMPLOYER

     Upon receipt of the Employer's Interest in the Policy, as provided above,
either from the Policy, or from the Owner, the Employer will release the
Collateral Assignment. Upon satisfaction of the Employer's Interest in the
Policy, or in the event of termination of this Agreement pursuant to section
6(c) above, the Owner shall have unrestricted ownership to the Policy.

     Upon termination of this Split Dollar Agreement by reason of the death of
the Insured (or in the event of a Policy initially issued covering the lives of
the Employee and the Employee's spouse, upon the death of both Insureds), the
Insurer in satisfaction of the Owner's obligations, will issue a check directly
to the Employer as collateral assignee in an amount equal to the Employer's
Interest in the Policy.

(8) MISCELLANEOUS

     Not an Employment Agreement.  This Split Dollar Agreement does not in any
way constitute an employment agreement, and the Employer reserves the right to
terminate Employee's relationship with the Employer to the same extent as though
the Split Dollar Agreement did not exist. This Split Dollar Agreement may be
amended at any time by written agreement signed on behalf of the Employer and by
the Owner.

     Binding Effect.  This Agreement shall be binding upon and inure to the
benefit of the Employer and its successors and assigns, and to the Owner and the
Owner's successors, assigns, heirs, executor or personal representative, and
beneficiaries.

     Notices.  Any notice, consent or demand required or permitted under this
Agreement shall be made in writing and shall be signed by the party making the
notice, consent, or demand. Such notice shall be sent by United States certified
mail, postage pre-paid and shall be sent to the other party's last known address
as shown on the records of the Employer. The date of such mailing shall be
deemed to be the date of such notice, consent or demand.

     Governing Law.  This Agreement shall be governed by and be construed in
accordance with the laws of the State of New Jersey.

(9) CLAIMS PROCEDURES

     Any person or entity claiming a benefit, requesting an interpretation or
ruling under the Plan, or requesting information under the Plan (hereinafter
referred to as "Claimant") shall present the request in writing to the Employer,
which shall respond in writing as soon as practicable. If the claim or request
is denied, the written notice of denial shall state the reason for denial, with
specific reference to the provisions on which the denial is based, a description
of any additional material or information required and an explanation of why it
is necessary, and an explanation of the program's claims review procedure.

     Any Claimant whose claim or request is denied or who has not received a
response within sixty (60) days may request a review by notice given in writing
to the Employer. Such request must be made within sixty (60) days after receipt
by the Claimant of the written notice of denial, or in the event Claimant has
not
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received a response sixty (60) days after receipt by the Employer of Claimant's
claim or request. The claim or request shall be reviewed by the Employer which
may, but shall not be required to, grant the Claimant a hearing. On review, the
Claimant may have representation, examine pertinent documents, and submit issues
and comments in writing.

     The decision on review shall normally be made within sixty (60) days after
the Employer's receipt of Claimant's claim or request. If an extension of time
is required for a hearing or other special circumstances, the Claimant shall be
notified and the time limit shall be one hundred twenty (120) days. The decision
shall be in writing and shall state the reason and the relevant provisions. All
decisions on review shall be final and bind all parties concerned.

     IN WITNESS WHEREOF, the Employer and the Owner (or the Owner's Assignee)
have signed this Split Dollar Agreement, which is effective as of the effective
date of the Policy described herein.

<TABLE>
<S>                                                       <C>

                                                          JOHNSON & JOHNSON
                                                          By:
                                                          ----------------------------------------------------
                                                          --------------------------------------------------------
                                                          Name and Title

---------------------------------------------------       --------------------------------------------------------
Witness                                                   Owner(1)
                                                          ------------------------------
                                                          Date

---------------------------------------------------       --------------------------------------------------------
Witness                                                   Owner(2)
                                                          ------------------------------
                                                          Date
</TABLE><PAGE>   1

                                                               EXHIBIT 10(h)

                                MERGER AMENDMENT

     This Merger Amendment is an amendment to:

          (a)  the Liz Claiborne Profit-Sharing Retirement Plan (the
               "Profit-Sharing Plan");

          (b)  the Lucky Brand Employee Retirement Plan and Trust (the "Lucky
               Plan");

          (c)  the Segrets, Inc. 401(k) Profit Sharing Plan (the "Segrets
               Plan"); and

          (d)  the Liz Claiborne Savings Plan (the "Plan").

     1. As of December 31, 1999, the Profit-Sharing Plan, the Lucky Plan and the
Segrets Plan (the "Merged Plans") will be merged into the Plan , and all assets
of the Merged Plans will be transferred to the Plan, which will thereupon assume
all liabilities of the Merged Plans with respect to the assets transferred.

     2. Employer contributions for the 1999 plan year, if any, for any of the
Merged Plans shall be made by the appropriate employer to the Plan as successor
to the Merged Plan or Plans. All contributions for periods on and after January
1, 2000 shall be determined solely under the terms of the Plan.

     3. Effective as of January 1, 2000:

<PAGE>   2

          (a) individuals who participated in the Plan on December 31, 1999
     shall continue to participate in the Plan and individuals who would have
     become participants on January 1, 2000 shall still become participants on
     January 1, 2000, in each case for purposes of Tax Saver and Matching
     Contributions;

          (b) individuals who participated in the Profit-Sharing Plan on
     December 31, 1999 will participate in the profit-sharing feature of the
     Plan and individuals who would have become participants in the
     Profit-Sharing Plan on January 1, 2000 shall become participants in the
     profit-sharing feature of the Plan and, to the extent they satisfy the
     Plan's requirements therefore, shall receive allocations of profit-sharing
     contributions;

          (c) individuals who participated in the Lucky Plan on December 31,
     1999 or who would have become participants in the Lucky Plan on January 1,
     2000 shall participate in the Plan on January 1, 2000, in either case for
     purposes of Tax Saver and Matching Contributions; and provided that such
     individuals shall not participate in, or share in allocations under, the
     profit-sharing feature of the Plan until they otherwise meet the Plan's
     rules relating thereto; and

          (d) individuals who participated in the Segrets Plan on December
     31,1999 or who would have become participants in the Segrets Plan on
     January 1, 2000 shall participate in the Plan on January 1, 2000, in either
     case for purposes of Tax Saver and Matching Contributions; and provided
     that such individuals shall not

<PAGE>   3

     participate in, or share in allocations under, the profit-sharing feature
     of the Plan until they otherwise meet the Plan's rules relating thereto.

     4. After January 1, 2000 Plan rules shall govern in determining which
individuals are eligible to participate in the Plan; provided, however, that:

          (a) with respect to any individual who was on the Lucky payroll on
     December 31, 1999, such individual shall become a participant in the Plan
     for purposes of Tax-Saver and Matching Contributions on the earlier of (i)
     the date provided under Plan rules, or (ii) the date provided in the Lucky
     Plan for elective deferrals and matching contributions; and provided
     further that such an individual shall not be eligible to participate in, or
     share in allocations under, the profit-sharing feature of the Plan until he
     or she otherwise meets the Plan's rules relating thereto; and

          (b) with respect to any individual who was on the Segrets payroll on
     December 31, 1999, such individual shall become a participant in the Plan
     for purposes of Tax Saver and Matching Contributions on the earlier of (i)
     the date provided under Plan rules, or (ii) the date provided in the
     Segrets Plan for elective deferrals and matching contributions; and
     provided further that such an individual shall not participate in, or share
     in allocations under, the profit-sharing feature of the Plan until he or
     she otherwise meets the Plan's rules relating thereto.

<PAGE>   4

     5. Except as otherwise expressly provided in the Plan as amended, in no
event shall any former participant in a Merged Plan be denied any benefit, form
of payment or other entitlement protected under the provisions of section
411(d)(6) of the Internal Revenue Code of 1986, as amended, and regulations
thereunder.

     6. Under the profit-sharing feature of the amended Plan, participants
shall, effective as soon as administratively practicable following January 1,
2000, be entitled to direct the trustee in the investment of all amounts
credited to their Profit-Sharing Contributions Accounts under the Plan,
including both amounts credited to such Accounts before January 1, 2000 and
amounts allocated to such Accounts after said date, such direction of
investments to be to the same extent that participants direct the investment of
their Tax-Saver Contributions under the Plan.

IN WITNESS WHEREOF,  the Company has caused this Amendment to be executed by its
duly authorized officer as of this 30th day of December, 1999.

LIZ CLAIBORNE, INC.

By:/s/Nicholas J. Rubino
   ---------------------
   Vice President- Deputy
   General Counsel and
   Assistant Secretary

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