Gillette Co – ‘10-K405’ for 12/31/95 – EX-10.H

As of:  Friday, 3/22/96   ·   For:  12/31/95   ·   Accession #:  950135-96-1465   ·   File #:  1-00922

in

this entire Filing. an “Entity” Search.

Show

Documents searched

and

each “hit”. the 1st “hit”.

↓↑Hints

Annual Report — [x] Reg. S-K Item 405   —   Form 10-K
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-K405     The Gillette Company                                  15     90K 
 2: EX-10.F     Directors,Officers & Co. Indemnity Ins. & Pension     14     37K 
 3: EX-10.H     Directors Compensation Deferral Provisions             2±     9K 
 4: EX-10.L     Description of Agreement Dated 1/1/96                  1      6K 
 5: EX-11       Computation of Per Share Earnings                      1      9K 
 6: EX-12       Computation of Ratios of Current Assets & Liabil.      1      7K 
 7: EX-13       Portions of 1995 Annual Report                        37    210K 
 8: EX-22       Susidiaries of the Gillette Company                    2     16K 
 9: EX-23       Independent Auditors Consent                           1      8K 
10: EX-24       Power of Attorney                                      2±    12K 
11: EX-27       Financial Data Schedule                                1     10K 

EX-10.H   —   Directors Compensation Deferral Provisions

EX-10.H
TOC
↑Top
Previous
Next
↓Bottom
Just 1st
 
THE GILLETTE COMPANY

DIRECTORS' COMPENSATION DEFERRAL PROVISIONS 

-       The directors may elect to defer payment of all or part of their cash   
        compensation, whether retainers or attendance fees, beyond retirement or
  resignation from the Board to receive payment (i) in a lump sum in
      January of the year following retirement or resignation or (ii) in ten
  or less equal annual installments beginning in January of the year
        following retirement or resignation, or, in either case, upon an earlier
  Change in Control, as that term is defined in The Gillette Company
Retirement Plan, as described below.                            

-       The election to defer must be communicated in writing to the Secretary  
before December 15, for amounts to be earned in starting in the 
       following year, or at any time during the year for amounts to be earned
      in the future and must include payment instructions and whether upon a
 Change in Control of the Corporation the deferral election should
       continue in effect or the amounts so deferred plus interest equivalents
    accrued to date should be paid immediately in the form of a lump sum
     payment. Only one deferral election may be made in any calendar year.

-       An election to defer remains in effect from year to year unless revoked 
       or amended by notice in writing to the Secretary at any time during the
      year for amounts earned in the future. Only one such revocation may be
made in any calendar year.                                      

-       With respect to the calendar year in which a director is first elected  
  to the Board, the director may elect to defer amounts to be earned
  during that calendar year by delivering a deferral election to the
        Secretary any time prior to the date the director is elected to serve on
the Board.                                                      

-       Directors' deferred compensation earns an amount equivalent to interest 
        at a rate fixed on the first trading day in October at the average yield
  on U.S. Treasury notes or bonds maturing in one year. That rate on
October 2, 1995 was 5.72%.                                      

-       Interest equivalents are credited semiannually, on June 30 and December 
     3l. Payment is deferred on the same basis as payment of retainers and
fees. The unpaid balance remaining in a director's account after
      retirement or resignation continues to earn interest equivalents until
the payment of all installments has been completed.             

-       In the event of death, payment will be made to the estate of the        
director in a lump sum representing the entire unpaid balance.  

-       Deferred retainers or attendance fees, plus accrued interest            
        equivalents, paid to a director after retirement or resignation from the
       Board or upon a Change in Control are taxable as ordinary income in the
year payment is received.                                       

-       Effective January l, l991 retainers and attendance fees are subject to  
     taxation for Social Security in the year received. Between January 1,
        1988 and December 31, 1990 retainers and attendance fees were subject to
      taxation for Social Security in the year earned. Since January 1, 1988
       retainers and attendance fees have been included in the Social Security
earnings test for benefits eligibility in the year earned.      

If you wish to make a deferral or a change to your present deferral arrangement,
a deferral election form must be filed with the Secretary. Forms will be        
provided by the Secretary's Office.                                             

(3/21/96)                                                       (DEFPROVS)      

Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘10-K405’ Filing		Date		Other Filings
Filed on:		3/22/96
For Period End:		12/31/95		11-K
		10/2/95
				List all Filings