EXHIBIT 10.36
AMENDMENT TO EMPLOYMENT AGREEMENT
---------------------------------
AMENDMENT (the "Amendment"), effective as of August 17, 2004, to the
employment agreement, dated as of August 18, 2003 (the "Agreement"), between
REVLON CONSUMER PRODUCTS CORPORATION ("RCPC" and together with its parent
Revlon, Inc. and its subsidiaries, the "Company") and Xxxxxx X. XxXxxxx (the
"Executive").
RCPC wishes to continue the employment of the Executive with the Company,
and the Executive wishes to accept continued employment with the Company on the
terms and conditions set forth in the Agreement, as amended by this Amendment
(capitalized terms used herein without definition being used with the meanings
ascribed to them in the Agreement). Accordingly, RCPC and the Executive hereby
amend the Agreement, effective as of August 17, 2004, as follows:
1. The first sentence of Section 3.2(b) of the Agreement, which defines the
"Retention Incentive" as a payment from the Company to the Executive of $600,000
gross, less applicable taxes and withholdings, is hereby amended by changing the
date by which the Company would provide the Executive with such a Retention
Incentive, from within one year of the Executive's employment start date (August
17, 2004) to a date that is not later than December 31, 2004.
2. The second to last sentence of Section 3.7(a) of the Agreement, which
refers to the Executive's relocation from the Atlanta area to the New York
metropolitan area, is hereby amended to allow the Executive an additional 12
months to sell his home in the Atlanta area (from August 18, 2004 until August
18, 2005) and an additional 12 months to complete his relocation to the New York
metropolitan area (from October 18, 2004 until October 18, 2005). The last
sentence of Section 3.7(a) of the Agreement is also amended such that the
Company agrees that it will extend the period that it will provide reasonable
corporate housing for the Executive from August 17, 2004 up to December 31,
2004.
3. Except as expressly modified by this Amendment, all provisions of the
Agreement shall continue in full force and effect. In the event of any conflict
between the terms of this Amendment and the provisions of the Agreement or any
other plan, policy, contract, arrangement or agreement between Executive and the
Company, the terms of this Amendment shall be controlling.
IN WITNESS WHEREOF, the parties have executed this Amendment on December
17, 2004.
REVLON CONSUMER PRODUCTS CORPORATION
By: /s/ Xxxx X. Xxxxx
-------------------------------------
Xxxx X. Xxxxx
President and Chief Executive Officer
/s/ Xxxxxx X. XxXxxxx
-------------------------------------
Xxxxxx X. XxXxxxx
9
