Exhibit10.26

REVLON, INC.

AUDIT COMMITTEE PRE-APPROVALPOLICY

Statement of Principles

The Audit Committee isrequired to pre-approve the audit and non-audit services performed bythe Company's independent auditor, KPMG LLP("KPMG" or the "independentauditor"), in order to assure that KPMG's provisionof such services do not impair its independence. Unless a type ofservice to be provided by the independent auditor has received generalpre-approval, it will require specific pre-approval by the AuditCommittee. Any proposed services exceeding pre-approved cost levelswill also require specific pre-approval by the Audit Committee.

During 2003, the Audit Committee specifically pre-approved theservices performed by KPMG in connection with (i) the Company's2003 audit and (ii) the Company's $50 million rights offering.All of the other services performed by KPMG for the Company during 2003from and after May 6, 2003 (the effective date of the applicable rules)were pre-approved in accordance with this Audit Committee Pre-ApprovalPolicy and the Audit Committee was provided with quarterly updates asto the nature of such services and fees paid for such services.

The appendices to this Policy describe the Audit, Audit-related, Taxand All Other services that have the general pre-approval of the AuditCommittee. The term of any general pre-approval is 12 months from thedate of pre-approval, unless the Audit Committee specifically providesfor a different period. The Audit Committee will annually review andpre-approve the services that may be provided by the independentauditor without obtaining specific pre-approval from the AuditCommittee. The Audit Committee may revise the list of generalpre-approved services from time to time, based on its subsequentdeterminations. The Audit Committee does not delegate itsresponsibilities to pre-approve services performed by the independentauditor to management.

Delegation

The Audit Committeemay delegate pre-approval authority to one or more of its members.Specifically, the Chairman of the Audit Committee may approve serviceswhich are not prohibited services if the fees as to any applicableproject will not exceed $35,000. The member or members to whom suchauthority is delegated shall report any pre-approval decisions to theAudit Committee at least quarterly on the services provided by KPMG andthe approximate fees paid or payable to KPMG for such services providedby KPMG during the preceding quarter, including a report on anyservices pre-approved during such quarter by the Chairman of the AuditCommittee pursuant to this Section II.

Audit Services

The annual Audit services engagement terms and fees will be subjectto the specific pre-approval of the Audit Committee, except to theextent covered by the delegation authority under Section II above. TheAudit Committee will approve, if necessary, any changes in terms,conditions and fees resulting from changes in audit scope or othermatters. In addition to the annual Audit services engagementspecifically approved by the Audit Committee, the Audit Committee maygrant general pre-approval for other Audit services, which are thoseservices that only the independent auditor reasonably can provide.

Audit-related Services

Audit-related services are assuranceand related services that are reasonably related to the performance ofthe audit or review of the Company's financial statements or thatare traditionally performed by the independent auditor. The AuditCommittee believes that the provision of Audit-related services doesnot impair the independence of the auditor, and has pre-approved theAudit-related services listed in Appendix A. All otherAudit-related services not listed in Appendix A must be specificallypre-approved by the Audit Committee, except to the extent covered bythe delegation authority under Section II above.

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Tax Services

The Audit Committeebelieves that the independent auditor can provide Tax services to theCompany such as tax compliance, tax planning and tax advice withoutimpairing the auditor's independence. However, the AuditCommittee will not permit the retention of the independent auditor inconnection with a transaction initially recommended by the independentauditor, the purpose of which may be tax avoidance and the taxtreatment of which may not be supported in the Internal Revenue Codeand related regulations. The Audit Committee has pre-approved the Taxservices listed in Appendix B. All other Tax services notlisted in Appendix B must be specifically pre-approved by the AuditCommittee, except to the extent covered by the delegation authorityunder Section II above.

All Other Services

The AuditCommittee may grant general pre-approval to those permissible non-auditservices classified as All Other services that it believes are routineand recurring services, and would not impair the independence of theauditor. The Audit Committee has pre-approved the All Other serviceslisted in Appendix C. Permissible All Other services otherthan those listed in Appendix C must be specifically pre-approved bythe Audit Committee, except to the extent covered by the delegationauthority under Section II above.

VII.    ProhibitedServices

The Company will not retain its independentaccountants for any services that are "prohibitedservices" as defined by applicable statutes orregulations, as may be in effect from time to time, including withoutlimitation, those services prohibited by Section 201(a) of theSarbanes-Oxley Act of 2002 and the SEC's rules and regulationsand such other rules and regulations as may be promulgated thereunderfrom time to time. A list of the SEC's prohibited non-auditservices as of April 1, 2003 is attached to this policy as Exhibit1.

VIII.    Pre-Approval Fee Levels

Pre-approvalfee levels for all services to be provided by the independent auditorwill be established annually by the Audit Committee. Any proposedservices exceeding these levels will require specific pre-approval bythe Audit Committee.

IX.    Procedures

Requests orapplications to provide services that require specific approval by theAudit Committee may be submitted to the Audit Committee by theindependent auditor and either the Chief Financial Officer, Treasurerand Controller or General Counsel.

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Appendix A

Pre-ApprovedAudit-Related Services for Fiscal Year 2004

Dated:February 1,2004

|             |  |                                                                                                                                                                                                                                                                                                                                                                                    |  |        |  |  |  |  |  |  |
|-------------|--|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--|--------|--|--|--|--|--|--|
| **Service** |  |                                                                                                                                                                                                                                                                                                                                                                               |
| 1.          |  | Due diligenceservices pertaining to potential businessacquisitions/dispositions                                                                                                                                                                                                                                                                                                    |  |   |
| 2.          |  | Financialstatement audits of employee benefitplans                                                                                                                                                                                                                                                                                                                                 |  |
| 3.          |  | Agreed-uponor expanded audit procedures related to accounting and/or billingrecords required to respond to or comply with financial, accounting orregulatory reportingmatters                                                                                                                                                                                                      |  |
| 4.          |  | Consultationsby the Company's management as to the accounting or disclosuretreatment of transactions or events and/or the actual or potentialimpact of final or proposed rules, standards or interpretations by theSEC, FASB, or other regulatory or standard-setting bodies (Note: UnderSEC rules, some consultations may be "audit"services rather than "audit-related"services) |  |
| 5.          |  | Attestservices not required by statute orregulation                                                                                                                                                                                                                                                                                                                                |  |
| 6.          |  | Auditwork in connection with liquidations and contract terminations; legalentity dissolution/restructuring assistance; inventory audits; andstatutory audit boardoversight.                                                                                                                                                                                                        |  |
|        |  | **TotalAnnual Fees for Pre-Approved Audit-RelatedServices:    $120,000**                                                                                                                                                                                                                                                                                       |
|             |

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Appendix B

Pre-Approved TaxServices for Fiscal Year 2004

Dated: February 1,2004

|             |  |                                                                                                                                    |  |        |  |  |  |  |  |  |
|-------------|--|------------------------------------------------------------------------------------------------------------------------------------|--|--------|--|--|--|--|--|--|
| **Service** |  |                                                                                                                               |
| 1.          |  | U.S.federal, state and local tax planning andadvice                                                                                |  |   |
| 2.          |  | U.S.federal, state and local taxcompliance                                                                                         |  |
| 3.          |  | Internationaltax planning andadvice                                                                                                |  |
| 4.          |  | Internationaltax compliance, including, without limitation, intercompany pricingstudies and advance pricingagreements              |  |
| 5.          |  | Reviewof federal, state, local and international income, franchise, and othertax returns, and assistance with tax audit andappeals |  |
|        |  | **TotalAnnual Fees for Pre-Approved TaxServices:    $785,000***                                                |
|             |

*Adds $285,000 to the 2003 service fee level of $500,000 as a result ofa tax audit in Mexico.

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Appendix C

Pre-Approved All OtherServices for Fiscal Year 2004

Dated: February 1,2004

|                                                                                                                                         |  |                                                                                                     |  |  |  |  |
|-----------------------------------------------------------------------------------------------------------------------------------------|--|-----------------------------------------------------------------------------------------------------|--|--|--|--|
| **Service**                                                                                                                             |  |                                                                                                |
| Allother services (other than prohibited services) approved by theChairman of the Audit Committee pursuant to Section II of thispolicy. |  | **Total Annual Fees forPre-Approved All Other Services:    $35,000 perproject** |
|                                                                                                                                         |

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Annex 2

Statutory Audits2004

|             |  |                                                                                                                                                                                                                                                                                                          |  |                                 |  |                                     |  |  |  |  |  |  |  |  |
|-------------|--|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--|---------------------------------|--|-------------------------------------|--|--|--|--|--|--|--|--|
| Country     |  | Firm                                                                                                                                                                                                                                                                                                     |  | ServicesProvided                |  | Estimated Annual Statutory AuditFee |
| China       |  | (i)Shanghai Xing Zhong CPAsContact: Mr. ShengTel:86-21-13061708813    (ii) Shanghai Zhong HuiCPAsContact: Mr. Yu WenheTel:86-21-68876887    **Note: 3 legal entities and firm (i)provides annual statutory audits and firm (ii) provides foreigncurrencyaudits** |  | StatutoryAudits                 |  | $3,000                              |
| Germany     |  | Storch& NiglesContact: Eva Storch, Regina NilgesTel:0049-2131-51-0006                                                                                                                                                                                                                                |  | Statutory Audits andbookkeeping |  | $21,000                             |
| Israel      |  | Proshan& Co.Contact: Mr. Amos ProshanTel:972-3-566-4343**Note: 3 legal entities**                                                                                                                                                                                                                    |  | StatutoryAudits                 |  | $50,000                             |
| Italy       |  | PieroCacace(Independent)Tel: 36-06-3202435                                                                                                                                                                                                                                                               |  | StatutoryAudits                 |  | $10,000                             |
| Poland      |  | Ernst &YoungContact: Marcin JurczakTel:0048-22-557-6000**Note: Closing downsubsidiary**                                                                                                                                                                                                              |  | Statutory Audits andbookkeeping |  | $52,000                             |
| Switzerland |  | (seeGermany)                                                                                                                                                                                                                                                                                             |  |                            |  |                                |
| TOTAL       |  |                                                                                                                                                                                                                                                                                                     |  |                            |  | $136,000                            |
|             |

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