2003 STOCK OPTION PLAN
FOR NON-EMPLOYEE DIRECTORS
(as amended through February 20, 2004)
1. Purpose. The principal purpose of the 2003 Stock Option Plan for Non-Employee Directors (the “Director Plan ) is to
benefit Alberto-Culver Company (the “Company”) and its subsidiaries by offering its non-employee directors an opportunity to
become holders of the Company’s Common Stock, par value $.22 per share (“Common Stock”), in order to enable them to
represent the viewpoint of other stockholders of the Company more effectively and to encourage them to continue serving as
directors of the Company.
2. Administration. The Director Plan shall be administered by the Board of Directors, whose interpretation of the terms and
provisions of the Director Plan shall be final, conclusive and binding. No member of the Board of Directors shall be liable for
any action or determination made in good faith with respect to the Director Plan or any option thereunder.
3. Eligibility. Options shall be granted under this Director Plan only to members of the Board of Directors who are not
officers or employees of the Company or any of its subsidiaries.
4. Granting of Options.
(a) An option to purchase 7,500 shares of Common Stock from the Company shall be automatically granted by the
Board of Directors, without further action required, to each director of the Company upon his or her initial election or
appointment as a director of the Company (“Initial Grant”); provided such director is eligible at that time under the terms of
paragraph 3 of this Director Plan. No person may be granted more than one option pursuant to this paragraph 4(a) of this
(b) An option to purchase 2,500 shares of Common Stock from the Company shall be automatically granted by the
Board of Directors, without further action required, at every Annual Meeting of the Stockholders of the Company
commencing on the Annual Meeting of the Stockholders of