Exhibit 10.16
▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇
▇▇▇ ▇▇▇▇, ▇▇ ▇▇▇▇▇
Phone: (▇▇▇) ▇▇▇-▇▇▇▇
Fax: (▇▇▇) ▇▇▇-▇▇▇▇
▇▇▇▇ ▇. ▇▇▇▇▇▇▇ III
Senior Vice President and
General Counsel
February 3, 1998
▇▇. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Casellas
▇▇▇▇▇ ▇▇ ▇▇▇ ▇▇▇▇▇, ▇▇ ▇▇▇
▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇
▇▇▇▇▇
Dear ▇▇▇▇▇▇:
Reference is made to the Employment Agreement dated as of January 1,
1996 between you and RIROS Corporation as supplemented by letter dated February
23, 1996 (collectively, the "Agreement"), and terms defined therein are used
herein with the meanings therein ascribed to them. In consideration of the
mutual covenants set forth herein and other good and valuable consideration,
receipt whereof is hereby acknowledged, you and the Company agree as follows:
1. Section 1.1 of the Agreement is hereby amended, effective
January 1, 1998, to read in its entirety as follows:
"1.1 Employment, Duties. The Company hereby employs the
Executive for the Term (as defined in Section 2.1), to render
exclusive and full-time services to the Company as head of its
worldwide professional beauty products strategic committee (which the
Executive acknowledges will require frequent involvement in senior
management activities at the Company's world headquarters in New York
City) and chief executive officer of the Company's professional beauty
products business outside of the United States or in such other
executive positions of at least an equivalent level consistent with
the Executive's business experience and background as may be assigned
to the Executive by the Chief Executive Officer of the Company
(provided that the Executive shall be permitted to deal with the
administration and management of the Executive's and his family's
personal property), and to perform such other duties consistent with
such position (including service as a director or officer of any
affiliate of the Company, if elected) as may be assigned to the
Executive by the Chief Executive Officer of the Company. The
Executive's title shall be Chairman, Revlon Professional Worldwide
Strategic Committee and Chairman, Revlon Professional International or
such other titles of at least equivalent level consistent with the
Executive's duties from time to time as may be assigned to the
Executive by the Chief Executive Officer of the Company."
▇▇. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Casellas
January 27, 1998
Page 2
2. Except as amended hereby the Agreement shall not be deemed to have
been amended, modified or affected hereby in any respect, and the Agreement as
so amended hereby shall remain in full force and effect in accordance with all
of its terms.
If this letter correctly reflects your agreement with the Company,
please so indicate by signing and returning a copy hereof.
Very truly yours,
RIROS CORPORATION
By: /s/ ▇▇▇▇ ▇. ▇▇▇▇▇▇▇ III
------------------------
Vice President
AGREED AND ACCEPTED:
/s/ ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Casellas
------------------------------
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇
