Exhibit
10.136.1        Certain confidential
information in this Exhibit 10.136.1 was omitted and filed separately with the
Securities and Exchange Commission with a request for confidential treatment by
Inter Parfums, Inc.





COMMERCIAL
LEASE





Subject
to the Articles L 145.1 through L 145.60 of the New Commercial law


and
to the decree of September 30, 1953





BY
AND BETWEEN THE UNDERSIGNED





Real
Estate Company at 4/6 Rond-Point des Champs Elysees,





Represented
by DAUCHEZ PROPERTY ADMINISTRATORS, Inc. the headquarters of which is located at
132 Haussman Boulevard, 75008, Paris, holder of Business License No. G 989,
insured by the Insurance Corporation, SOCAMAB ASSURANCES, which is represented
by Mr. Jean-Claude SAUNIER.


Hereinafter
"the lessor", party of the first part,


AND





The INTER
PARFUMS Company, a Corporation with capital of 40.171.620.00 Euros, the
headquarters of which are located at 4/6 Rond-point des Champs
Elysees, 75008 PARIS, registered under the Commerce and Companies Registry of
Paris under the number B 350 219 382, and represented for the purposes of these
presents by its Delegate General Director, Mr. Philippe SANTI





hereinafter
"the Lessee",





party of
the second part,


1


SPECIAL
CONDITIONS





WHICH HEREBY AGREE TO THE
FOLLOWING:





The
Lessor, gives to rent to the Lessee, who accepts, the locations indicated
hereafter belonging to a building located at 4/6 Rond Point des Champs Elysées –
Paris 75008.





1.
DESIGNATION





Within a
building located at 4/6 Rond Point des Champs Elysées 75008 Paris:





A
commercial locale for office use, located on the 6th floor
with a surface area of 60.30 square meters approximately, as the aforementioned
locales are shown in the attached plan.





Furthermore,
as far as the extra space which these places offer, it shall be understood, the
aforementioned property is leased as seen / "as is", with no exceptions nor
reserve and without it being necessary to make of it here a fuller designation,
the Lessee does hereby state he has seen them and visited the at his leisure and
of which he shall have a detailed accounting drawn up, by the Lessee’s
architect,including
all costs which shall be at the expense of the Lessee, within one month
following the completion of any remodeling work on the buildings.





It is
hereby specified that any error in designation above shall justify neither
reduction nor increase in the rent, the parties shall accept the Property as is
and in its present condition.





2.
DURATION





This
lease, which shall commence retroactively on JULY 15, 2008, is authorized for a
duration of seventeen days, two months and three, six, or nine years, and shall
expire on SEPTEMBER 30, 2011, SEPTEMBER 30, 2014, or SEPTEMBER 30, 2017, which
date shall be the sole choice and responsibility to be undertaken by the Lessee
and if the Lessee wishes to change the expiration from the first or the second
three year period, he must give six months notice.





Any
notice shall imply an extrajudicial act.


3.
PRICE





3.1           The
present location is granted and accepted through an principal annual rental
amount of [———————————————————]1Euros),
as well as the applicable VAT, that the Lessee commits to pay to the Lessor or
his agent, at the domicile of the latter, quarterly, in other words, four
ordinary times a year, the first day of each quarter, every three months, until
the expiration of tenancy, in advance.





3.2           The
aforementioned rent will be automatically reviewed on the first of October every
year in accordance with the fluctuation in index of the cost to construct a
building as is published by the National Institute of the Statistics and the
Economic Surveys (l'Institut National des Statistiques et des Études Économiques
- INSEE) for the first quarter of each year. The first review shall intervene
for the first time on the first of October, 2009 on the basis of the fluctuation
between the index of the first quarter 2008, which is 1497, and that which will
be published for the first quarter of 2009, and in the future on the basis of
index of the first quarter of each year.




1
Confidential information omitted and filed separately with the SEC with a
request for confidential treatment by Inter Parfums, Inc. No.
10.136.1.1.


2




3.3.1       In
addition to the rental amount set above, the Lessee shall pay to the Lessor, at
the same time as each rent is paid, the amount due for the various services and
supplies to which the owners have the right to recover from their tenants, that
is to say, his share of:


•
            municipal
      costs (sweeping, household garbage collection and industrial or commercial
      wastes);


•       Property tax and household garbage tax
shall be called for once a year and are calculated pro rata on the number of
days present.It is not included in the provisions
for expenditures.


•     Cost
of maintenance, security salaries, and additional charges;


•     cold
water charges; (for consumption and meter charges);


•       Cost
of central heating of the building (fuel, payments, and routine
maintenance);


•       Operational
cost (electricity, payments, and routine maintenance, lighting for the common
areas);


•       expenditures
related to the elevator which serves the different floors (electricity,
payments, and routine maintenance);


•
            annual taxes on offices and trade
      in Ile de France as concerns rented locales, in the event that it is due,
      on the first of January each year. It is expressly agreed that this tax on
      offices shall be due from the Lessee on a pro rata basis for the number of
      days present. It is not included in the provisions for
      expenditures.


•           Its
potential quota of the tax on the removal of the industrial and commercial
waste. [sic]





3.3.2       Proportions
of the Distribution of Charges





Distribution Key
                      
                      Proportions
                      
                      
                      Distribution BaseGeneral
      Expenses
                      
                      
                      182
                      
                      
                      
                      10
      000Special
      Expenses
                      
                      
                      12
                      
                      
                      
                      1
      000Elevator
                      
                      
                      28
                      
                      
                      
                      1
      000





It is
hereby specified that modifications to the distribution proportions be made
contractually, judicially, or legally.





3.3.3       The
payment of these charges shall be paid on a quarterly basis in the amount
of THREE HUNDRED AND EIGHTY EUROS (380.00 Euros), the final amount being
established at the end of the fiscal year. It is
hereby specified that the rent and the charges shall be adjusted quarterly, by
automatic deduction.





3.4           Any
delay in payment of the amounts due, as well the rent payment itself and the
additional charges will cause a late fee reminder to be issued.  The
Lessee shall be wholly responsible for payment of these charges, to wit: for the
first reminder: 10 Euros including tax, for the second reminder: 20 Euros
including tax.


3


4.
SECURITY DEPOSIT





Moreover,
upon signing the present contract, the Lessee shall provide as deposit, the
amount of [———————————————]2(Euros) which is equivalent to [———————————————]3
months of rent, excluding tax.




With each
revision of the rent, this deposit will be readjusted so that it always is
equivalent to [———————————————]4 months of
rent.





The
aforementioned amount shall be reimbursed to the Lessee after removal and
handing-over of the keys, after deductions are made for rent and tenant's
repairs or all other amounts that may be due for payment by the Lessee to the
Lessor, or any other amounts for which the Lessee may be responsible. Interest
of benefit to the Lessee, shall not be earned upon this amount in any case
whatsoever.





5.
DEDUCTIONS FROM RENT




A
franchise of [———————————————]5Euros
is accorded to the Lessee, which is equivalent to [———————————————]6 months rent, in order to
allow the Lessee to remodel the offices from their present state, (as indicated
in the inventory), at the time the Lessee takes possession of the
property.




The
Lessee expressly commits to provide the Lessor, at the time of signature of the
lease, with a detailed and itemized description of the work to be carried out
and for which the deduction shall be made. This description shall be
annexed to the present lease.




Moreover,
the Lessee expressly commits to provide the Lessor with certified copies of the
invoices for the work carried out, after the construction has
concluded.




Moreover,
the Lessee expressly commits to execute the work that is the object of this
deduction, in compliance with applicable regulations (and in particular shall
provide owner construction insurance, plus a coordinator to insure safety and
protection of health) at his own expense and under direction of the Lessor's
architect, whose fees shall be the responsibility of the Lessee.




Consequently,
the first rent period shall be payable on NOVEMBER 15, 2008.




Lastly,
the Lessee does hereby commit, as of the effective date of the lease, to release
the Lessor from any responsibility related to the construction for which this
deduction shall be taken.





2
Confidential information omitted and filed separately with the SEC with a
request for confidential treatment by Inter Parfums, Inc. No.
10.136.1.2.


3
Confidential information omitted and filed separately with the SEC with a
request for confidential treatment by Inter Parfums, Inc. No.
10.136.1.3.


4
Confidential information omitted and filed separately with the SEC with a
request for confidential treatment by Inter Parfums, Inc. No.
10.136.1.4.


5
Confidential information omitted and filed separately with the SEC with a
request for confidential treatment by Inter Parfums, Inc. No.
10.136.1.5.


6
Confidential information omitted and filed separately with the SEC with a
request for confidential treatment by Inter Parfums, Inc. No.
10.136.1.6.


4




6.           ENVIRONMENTAL
DISPOSITIONS ARTICLE L 125-5 OF THE


ENVIRONMENTAL
CODE




The
leased locales and the property units are situated in the community of
PARIS.THE LESSOR
declares that to his knowledge, the property which is the object of these
presents is located in an area that:


-
            Is
      covered by a Plan for the Prevention of Foreseeable Natural Disasters of
      Flooding, approved by the prefectural decree dated February 14,
      2006,


-
            Is
      covered by a Plan for the Prevention of Required or Approved Technological
      Disasters,


-
            Is
      located within a 0 seismic area.




The state
of natural and technological disasters as well as the prefectural decree dated
February 14, 2006, and the file annexed to the decree, are attached to these
presents and are stamped.


5


The
LESSOR declares however, that to his knowledge, within the timeframe that he has
been the property owner, the leased locales and the property units have not been
the object of damages under the protection of articles L 125-2 or L 128-2 of the
Insurance Code.


Also, to
his knowledge, it was the same before his acquisition.





7.
RESOLUTORY CLAUSE




It is
expressly agreed that:




8.1           If
any payment is in default within a single rent term, charges, taxes and
services, in its agreed upon payment amount, such as in a case of infringement
or non-fulfillment of one of the General or Special Conditions outlined in the
lease agreement, one month after notice is served and if the appropriate
response does not take place, after notification of a summons by registered
letter with acknowledgement of receipt and despite all later offers to pay or
execute, the present lease shall be automatically cancelled, in whatever way
appears satisfactory to the Lessor, with no need for any legal formality other
than a simple ordinance of summary procedure issued by the President of the
Supreme Court pronouncing expulsion, the aforementioned ordinance shall fulfill
the purpose of assuring its enforcement, not to issue the cancellation which
takes place automatically if the Lessor deems it necessary.




8.2           In
the event that a cancellation takes place as outlined in the first paragraph of
this Resolutory Clause, the amount paid to the Lessor as a deposit shall be
appropriated by him to serve as compensation, without prejudice to all expenses
and damages/interest incurred.




8.3           In the event of non-payment of any
amount due at its term or of failure to comply with any of the General or
Special Conditions provided for in the lease and with the first service by a
bailiff, in addition, the Lessee will automatically be required to pay all other
charges of recovery including the entire amount owed to the bailiff, a penalty
equal to 10% (ten percent) of the amount of the sum owed to cover all damages to
the Lessor caused by the delay in payment and the expenses, due diligence and
fees incurred in the recovery efforts for this amount. This penalty is added to
the legally incurred interest due once the decree is
issued.


6


GENERAL
CONDITIONS





This
lease is authorized and accepted under the ordinary burden of law, according to
the use of the locales, and moreover, in the following conditions the Lessee
commits to carry out or support under penalty of cancellation, with no right to
claim any compensation nor reduction in rent, neither any recourse against the
Lessor nor against his insurer.





1.
            Taking
      Possession




The
Lessee shall take possession of the locales rented in the state they are
currently in, and shall not require that the Lessor make any changes to its
state nor any repairs whatsoever, the structural work of the walls and floors
shall be the only obligation borne by the Lessor.





2.
            Closure
      - Coverage:




Since no
request may be made for other doors or locks than those currently existing, the
Lessee shall relinquish all recourse against the Lessor and against his insurer,
in the event of robbery or burglary in the leased locales.




Effect
the final removal of blinds or shutters, at the option of the Lessor, without
compensation.




Objects,
machines, etc., that are susceptible to water damage, must not be placed under
the frames, window panes, windows or ceilings made of glazed reinforced
concrete, if in existence, the Lessor denies any responsibility in the event
that damage occurs resulting from a force of nature in this way, since sealing
is not guaranteed to be waterproof.





3.
            Inventory
      and Maintenance:




Maintain
the locales rented, during the entire lease period, in good condition through
repairs made by the tenant, and to perform, consequently, and to carry out at
his own expenses, all electrical repairs, repairs of locks, iron work, furnaces,
pluming, central heating, carpentry, painting, windows and shutters, etc., in
other words, all work necessary to keep the locales functional, as well as
making all replacements, be they total or partial. Only the structural work of
walls and floors shall be the responsibility of the Lessor (in the sense set
forth by article 606 of the Civil Code).




The
Lessee shall personally carry out, after having sought prior authorization from
the Lessor, and at his sole expense, all repairs, remodeling or additions
required by an administrative authority or legislative or regulatory
disposition  in order to continue the Lessee’s activities or for any
other cause included a case of Force Majeure.




The
Lessee shall maintain in good condition the entirety of the various locales
rented, and in particular, the frontage and doorways, which should be painted as
often as is necessary and at least once every three years. Consequently, the
Lessor shall not be held responsible for large repairs, as set forth in article
606 of the Civil Code, the exception to which shall only be as provided for
above, from work required for the continuation of the Lessee's
activities.




Return
the locales rented at the end of the lease, in the same state, (as shown by the
inventory drawn up at the time possession was taken of the locales) as at the
beginning of the lease.


7




Consequently,
the Lessee should carry out all repairs, both large and small, without
distinction, with the exception of those mentioned by Article 606 of the Civil
Code, in such a way that the locales are restored at the end of the lease to a
good state of repair and maintenance.




At the
expiration of the lease, another inventory shall be drawn up indicating the
tenant's repairs, which may be owed by the Lessee. The aforementioned Lessee
shall pay the amount.





4.
            Work
      Done by the Lessee - Embellishments -
  Improvements:




Without
the express and written consent of the Lessor, the Lessee shall not make any
changes to the layout of the rented locales, in particular concerning the
apportionment of the different areas of the rented locales.




The
Lessee shall not make any change, installation, demolition, holes in walls,
partitions, floors, nor sealing without the express and written consent of the
Lessor.




No work
shall be performed, unless authorized by the Lessor, after which approval and
under the direction of the Lessor's architect; the Lessee shall pay the
fees.




To leave
to the end of the lease, if the Lessor is in agreement, without compensation,
all changes and work thus accomplished.




No
ventilation or air conditioning equipment may be installed without prior express
authorization in writing from the Lessor. This work, if authorized, shall be
carried out as set forth in subparagraph three of this clause. The Lessee agrees
that upon his departure, at the discretion of the Lessee, he will either leave
said installations in a good operational state, or will remove them and replace
the windows in which they were installed.




All
decorations, embellishments, cabinets mounted on walls, gas, water, electrical
connections, that the Lessee might install and, in general, all fixed
installations and embellishments, shall also be left in place, unless the Lessor
prefers that the locales not be remodeled, (which shall be made at the expense
of the Lessee and without compensation), but in their original
state.




The
floors should not be overloaded in the rented locales, without completing
reinforcement by means of measures recommended by the Lessor's architect, under
whose orders this work must be carried out, at the expense of the
Lessee.




The
Lessee must also notify the Lessor beforehand any work on projects so that the
architect of the Lessor may verify that the work to be carried out does not
violate the integrity of the building nor the structural work. Upon the
departure of the Lessee, the Lessor reserves the right to require that the
locales be returned to their original state, the cost of which shall be of the
Lessee exclusively.




The cost
of a possible modification to the rented locales must be covered as required by
the administration, even if this requirement were unforeseeable and essential,
as a consequence of an event of force majeure.




Finally,
during the course of this lease and of any possible renewals of same, the
parties expressly agree that the work force shall be treated in compliance with
that which may be required by the administrative authorities, whether it be in
the category of health and safety on-the-job or regulations covering
establishments that receive the public, all of which must be carried out by the
Lessee and at their exclusive expense.


8


5.
            Work
      in the Building - Visiting the Locales -
Wiring:




Accept,
without compensation, or reduction in rent, any work which the Lessor may
consider necessary to perform in the rented locales, or in the building where
they are located, the duration of which would exceed forty days




The
Lessor reserves the right, without prejudice to the requirement in Article 1723
of the Civil Code, to make any modifications which he deems appropriate, to the
exterior appearance as well as to the inside of the building where the locales
are to be found, excluding the other locales that are at present
rented.




Permit
access to the rented locales, if need be, in order to perform cleaning of the
doorways, court yards, inspections of the elevator counterweights or other work
necessary to maintain good functionality in the building itself and in the
operation of all machinery.




Accept,
without receiving any compensation, or reduction in rent, all work which the
Lessor considers necessary or that is forced to perform, such as any nearby
construction or demolition, all blocked access, court yards or days of
inconvenience.




Allow
that all necessary wiring cross through their cellars.




File
without delay, together with the cost, all formwork, decoration, installations
or removal of same, to be performed that may prove useful for research and
repair in the event of leakages of any kind, or of cracks in smoke or
ventilation channels, especially after a fire or smoke damage from a fire, and
in general for the performance of the task.




If work
proves to be necessary on all the piping, the Lessor reserves the right to
replace buried wiring with visible wiring.




In the
event of work, construction, sale of the building in part or in full, the Lessor
may modify the layout of the cellars and proceed to exchange
buildings.




Permit
the Lessor, his architect and their representatives to enter the rented places
whenever they consider it useful; the latter shall make sure to notify the
Lessee 48 hours in advance (except in the case of emergencies).




6.
            Expropriation:




No
compensation nor reduction in rent may be required by the Lessee of the Lessor
if, throughout the duration of this lease, the building in which the currently
rented locales are found, come to be demolished in part or in full as a result
of cutbacks, recession, or expropriation for use by the public sector, with the
exception of course, of the tenant's recourse against the parties to the
expropriation.





7.
            Furnishings:




Make sure
the locales rented are continually decorated with furniture, goods, and
furnishings in sufficient quantity and worth to answer for the payment of the
rent and for payment of fees and other conditions of the lease.


9




The
Lessee shall make sure that the rented locales maintain constant commercial
activity, and shall not cease, under any pretext (except for being closed for
normal activities such as paid leave), even temporarily, to use the locales for
the purpose indicated below.




Any
relocation before the scheduled time is prohibited the Lessee, who, in all the
cases, shall only be permitted to vacate the locales rented after all
obligations set forth in the present Contract have been fulfilled.





8.
Insurances:


8.
1 ~ Goods that are Property of the Lessee




The
Lessee shall insure and maintain insured for entire duration of the lease
against fire hazards, explosion, water damage, destruction, all furniture,
furnishings, materials and in a general way, all of its property inside the
locales, including improvements, relinquishing any recourse against the Lessor
for the possibility that the furniture, furnishings, materials, improvements or
other items might become damaged partially or completely.




The
Lessee commits to require that his insurer make the same waiver of recourse
against the Lessor.





8.2
~ Vis-a-Vis Third Parties




The
Lessee shall also ensure that third parties have no recourse, also relinquishing
any recourse against the Lessor in the event that goods belonging to a third
party are partially or completely damaged or if they must temporarily or
completely interrupt activity.




The
Lessee commits to require that his insurer make this same waiver of recourse
against the Lessor.





8.3
~ Goods that are Property of the Lessor




The
Lessor shall insure the building and all the elements of equipment or other
fixtures and fittings against the hazards of fire, explosion, water damage,
partial or total destruction due to any cause that may be, for the amount
necessary to rebuild anew.




The
Lessor, in the event of a disaster, shall waive all recourse against the Lessee,
and commits to require that his insurer make the same waiver of recourse against
the Lessee.




The
Lessee shall fully reimburse the Lessor for all additional premiums required,
due to activities performed, and commits moreover to notify the Lessor of all
fixtures and fittings he has installed, apart from pledging responsibility with
respect to the Lessor and in the event of a disaster, to make reparations for
the damage undergone by the Lessor in the event the guarantee is
insufficient.




Since the
premiums would be established as a guarantee for the totality of the building,
with the exception of the additional premium required due to the activities
performed, the total cost of which shall be the responsibility of the lessee,
the quota due from the Lessee shall be as stated in the particular conditions of
Article 3.3.2, “Proportions of the Distribution of Charges”.


10


8.4~Reciprocal
Waivers





The
parties commit to keep in mind the aforementioned waivers, to notify each other,
within two months beginning with the effective date of these presents, of their
insurance policies, established according to their respective obligations, and
which must have:




-     on
the part of the Lessee, stipulations that he and his insurers shall waive, in
the event of a disaster covered by the guarantees set forth in Articles 8.1 and
8-2, all recourse against the Lessor and his insurers,




-     on
the part of the Lessor, stipulations that he and his insurers shall waive, by
the guarantees set forth in Articles 8.3, all recourse against the Lessee and
his insurers.





These
waivers of recourse shall be reciprocal, in such a way that subject to the
waiver of recourse on behalf of the Lessee and his insurers, the Lessor and his
insurers waive, in the event of a disaster, any recourse that they may have
against the Lessee and his insurers and who, subject to the waiver of recourse
on behalf of the Lessor and his insurers, the Lessee and his insurers waive, in
the case of disaster, any recourse that they might have against the Lessor and
his insurers.





Furthermore,
the Lessee shall be required to take out fire coverage through a “Prevention and
Advice” policy with an organization approved by the Plenary Assembly of
Insurance Companies.





The
Lessee must supply the Lessor with a document justifying the policy coverage
provided by this contract concerning the supply and placement of portable fire
extinguishers within the private areas, and to mail a photocopy of the
inspection report every year.





9.
Contributions ~ Health:





Fulfill
all the requirements of the city and police force to which tenants are usually
held.




Conform
to all the regulations of the proper authority regarding hygiene and public
health.




Refrain
from throwing industrial or commercial waste in the domestic trash cans of the
building and provide trash cans for this purpose by using lawful containers. It
must be taken care of and removed solely by their maintenance service, and these
duties shall be performed in such a way that they do not obstruct the
passageways.


The
Lessee must take responsibility personally for any failure to comply with these
regulations; the Lessor should never be bothered or sought after in any way at
all on this subject.





Pay all
contributions and taxes precisely that may correspond to him personally.
Demonstrate, before relocation, to the Lessor or his agent that payment of taxes
has been made, by providing the Tax Collector receipt.




Pay,
throughout the duration of the lease, his share of all State, Department or City
levies and taxes, in whatever form they are created, whether perceived or not by
the owner, and comprising property tax.




Furthermore,
every year, the Lessee shall reimburse the Lessor for the annual office
tax.


11


10.
Internal By-Laws:




The
Lessor shall not be held responsible for any interruptions which could occur in
water, gas, or electrical services or of any other public utility, or of any
restrictions which could, possibly, be imposed by the authorities on the various
services with which the building is provided.




Regularly
maintain the interior water supply and drainage pipelines, as well as all
electrical and gas pipelines, the Lessor must never have to be worried on this
subject and the Lessee shall use these pipelines only at his own risk and
peril.




The
Lessor reserves the right of the possibility of contracting a policy with the
Parisian Association of Steam and Electrical Equipment (A.P.A.V.E.) or from any
other similar organization for periodic inspection of the private electrical
installations corresponding to each tenant; the amount of that policy payment
shall be invoiced individually to the tenants or included in the reimbursable
services such as those mentioned in the Price paragraph. Any possible work to
maintain compliance of these installations which might result from these
inspections must be carried out by the Lessee at his expense.




The
Lessee must, by taking possession of the locales, arrange to have work performed
that may possibly be necessary for the proper electrical installation
specifically for the rented locales, in conformity with the regulations in
force.




Have the
chimneys and flues cleaned in the rented locales, by a qualified chimney-sweep,
whenever the need arises.




The
Lessor does not guarantee their state and the Lessee shall use them only with
his own risk and peril. They shall never be able to ask him to repair them. No
stove or radiator may be connected there.




Nothing
must be thrown away, nor allowed to be thrown away, in the building's entry
vestibule, in the corridors, on the staircases, and in a more general way, all
common areas of the building that are formally excluded from this
lease.




In order
to make it possible for the cars upon which the tenants or occupants depend to
enter into the courtyard of the building, access will only be allowed for
delivery vehicles and parking.




Flowers
and other objects must not be placed in the windows neither on the street nor in
the courtyard.




Conditions
imposed by building regulations, shared proprietorship regulations, the union of
shared proprietors, or any organization formed between the owners or occupants
of the building must be abided by, with the possible participation of the owners
or occupants of the buildings close by.





Rigorously
observe the rules of usage as established in Paris regarding vicinity. Avoid all
noises, odors or other causes of embarrassment for the other occupants of the
building or the close buildings.





Take care
that ventilation equipment such as range hoods, extractors, conduits, etc. meets
the standards necessary for the activity authorized by this lease, and that this
equipment is maintained in perfect operating condition; so that the Lessor does
in no case have to be worried by embarrassments caused in the neighborhood, in
the form of fumes, odors, machinery vibration, or other noises.


12


Take care
that personnel does not park in the areas common to the building, prohibit all
manner of shouting or noises, in particular at the moment when they enter and
leave the building, so that the peace of the building is not disturbed by their
presence.





No dirty
or noisy animals shall be allowed.




No
drawing or displays shall be allowed on the sidewalks of the locales currently
leased.




Act as a
substitute to the Lessor on all complaints which may be raised by a neighbor,
the Lessor must never have to be worried on this subject.





No public
sale shall take place in the locales rented at any time, even after failure of
the business or bankruptcy.





Once the
Lessee has received or given notice to vacate, during the last six months of the
lease, the Lessor shall have the right to make and put up a sign, at the site of
his choice, indicating that the locales are to be rented. The Lessee shall be
open for business on all business days from 10 AM to noon and from 2:00 PM to
5:00 PM. It will be also thus in the event of a sale of the rented
locales.




11.
Heating:




There is
a private heating system installed in the rented locales.





The
Lessee must provide maintenance directly, without the Lessor having to ever
intervene in any manner whatsoever, for the entire responsibility of the heating
system, as well as for its total or partial replacement, so as to leave, after
vacating the premises, the aforementioned system in good operating
condition.




12.
Air-conditioning:




Collective
air conditioning is also installed within the building. If the Lessee wishes to
be connected to the collective installation, a connection fee will be invoiced
to him.





Central
air conditioning is supplied each summer between the 15th of June
to the 15th of
September.





The
Lessor reserves the right to furnish it outside of these limits; in this case,
the Lessee must reimburse the cost of the supplementary air conditioning in the
same proportion as the normal air conditioning.





13.
Elevators:




The
elevator or elevators shall only be used at the Lessee's own risk and peril, and
shall be maintained by the company in charge of maintenance in such a manner as
to be in compliance with the regulations enacted for this purpose.





The
weight limits of this device must be strictly adhered to.





Accept
the possibility that other occupants of the building may use the
device.





Its use is reserved for the
tenants: the transport of all materials or objects by the elevator is
prohibited and it must
not be used by delivery men or couriers.




13




The
Lessor shall bear no responsibility for accidents which may occur because of the
elevator, no matter what the causes are.





The
Lessee may not file any Claim regarding the orders or the need for maintenance
of this equipment that may be produced independently from the wishes of the
Lessor.




14. Use
and Purpose of Locales:




Only the
following activities shall be permitted in the locales leased: “PURCHASING,
SELLING, MANUFACTURING, IMPORTING and EXPORTING PERFUMES, COSMETICS, FASHION
ARTICLES, AND ACCESSORIES”.


The
locales that are subject to these presents are leased exclusively for office
use, to the exclusion in particular of all sales, exhibits, etc.


The
rented locales may not be used for any other purpose, with the understanding
that the Lessor reserves the right to rent all other locales in the building for
any mercantile or professional purposes that are similar to those of the
Lessee.





15.
Credit-Lease:


In the
event that the Lessee has recourse to a credit-lease on his business or one of
the components thereof, the Lessee shall be obligated to warn the Lessor by
registered letter with return receipt, by the month preceding the signing of
this credit-lease contract. The Lessee shall also be obligated to report the
date of expiration of the credit-lease contract.




In the
event the business is transferred, the Credit-Lessee shall be likewise obligated
to the Credit-Lessor so that the Lessor will never have to worry about the
establishment with the Credit-Lessor of the credit-lease contract.




At the
time of the business transfer, the Credit-Lessor must inform the owner that all
the legal formalities and obligations set forth in the Credit-Lease contract
have been fulfilled by the Credit-Lessee assignee.




In the
event that a renewal of this lease is requested by the Credit-Lessor wishing to
install a new operator, the latter will be required to carry on an activity
identical to that of the former Credit-Lessor. In this case, the Credit-Lessor
must send to the Lessor, at the same time as the request for renewal, all
information concerning the new operator (K-(a), statutes, banking references)
and of his activity, which shall be subject to his express and written
approval.




16.
Transfer - Contribution - Sub-Lease:




It shall
not be permitted to yield the right to the present lease unless it is to the
purchaser of the business, provided that such assignment is made in its
entirety, and with the obligation to remain as a guarantor and jointly and
severally responsible towards the Lessor for all subsequent assignees, both in
respect of payments of rent and in regard to fulfilling the general conditions
of the present lease.




The legal
instrument containing the transfer must either be made in an authenticated form,
or by informal agreement, the Lessor shall be summoned to sign said instrument;
the Lessor must be summoned and an executory copy of said instrument must be
sent to him free of charge within one month from signing; at said act of the
instrument of transfer, the assignees shall of course be responsible for paying
the rent to the Lessor together with the fulfillment of all responsibilities and
conditions of the present lease.


14




No
contribution or transfer may be made if the Lessee has any unpaid rent or
charges due.





These
stipulations will be applicable to all successive transfers.




The
business may not be given to a management agent, nor shall any person be
substituted, nor shall the rented locales be lent to any third parties, even
temporarily.




No
sub-leasing or domiciling, in part or in totality, shall be allowed, without
obtaining prior written agreement from the Lessor.




16.
(a)





Notwithstanding
the 16th Clause
of the General Conditions, the Lessee is authorized to be domiciled within the
rented locales of the companies of the INTER PARFUMS Group, with the proviso of
observing the following five infrangible conditions:




1)
                  That
      the activity carried on by these companies be the same as that set forth
      in the 14th
      General Condition above and that the Lessee sends to the Lessor a copy of
      the statutes and of the K-(a) of these
  companies;




2)
              That
      they be companies of the INTER PARFUMS Group, of which at least 30% of the
      capital stock is in holdings;




3)
              That
      the President, the Director General, or the manager of these companies be
      one of the administrators of the INTER PARFUMS company, holder of the
      present lease;




4)
                  That
      the INTER PARFUMS Company, upon vacating the premises which make up the
      object of this lease, make sure that they are made free from any
      occupation; the locales which physically form an indivisible whole through
      the common intention of its
parts.
  Under no
circumstances, may these domiciliations transfer the commitment of rights that
exists between the subtenants and the Lessor, who shall have no direct
obligation in regards to them.




5)
              The
      company, INTER PARFUMS shall remain as the sole responsible party in
      respect with the Lessor, for any damages to same. It shall guarantee
      strict fulfillment of the conditions above and commits to pledge same in
      writing for any domiciled company, which it will have the obligation to
      make known to the Lessor.





16. Signs
~ Commercial Name Plaques:





No plate,
sign, shade/awning or any attractive installation to the exterior or interior
appearance of the building may not be used without first being subject to the
approval of the Lessor who will necessarily request the authorizations as set
forth in Building Regulations or any other Regulation, schedule of conditions,
or statutes to which it will be subject, however with the stipulation that the
Lessee shall personally arrange for all administrative authorizations required
and shall be responsible for payment of the taxes which may be
required.




The
Lessee shall constantly maintain the exterior facade of his boutique in a
perfect state of upkeep.The
aforementioned façade shall not be changed or ordered to be changed, without
having submitted the plans to the Lessor beforehand, and without the Lessor's
authorization for the projected changes, which shall be carried out under the
supervision of the Lessor's architect, whose fees shall be the responsibility of
the Lessee.


15





17.
Collateral Security:




The
Lessee hereby commits, if he consents to using his business as collateral
security, to inform the Lessor, and make known to him all names and addresses of
the secured creditors within fifteen days of establishing the aforesaid
collateral.




The
Lessee expressly commits to provide to the Lessor every year, a balance sheet
from the Company INTER PARFUMS within six months of closure of the fiscal
year.





18.
Binding Clause:




All the
responsibilities, clauses and conditions of this lease are obligatory. Any
deviation of the Lessee without express and written authorization from the
Lessor will have effect only through tolerance, and could never be regarded as
having made novation, nor to be adherent to the present clauses and conditions,
to which the Lessor shall always have the right to require strict
fulfillment.





19.
V.A.T. - Registration ~ Expenses:




Payment
of the stamp fees, registration fees, charges related to the present lease,
revisions to the rent amount and possible renewals of this lease, plus the
applicable VAT.




The
Lessor has opted for the regime subject to the value-added tax, within the
framework set forth by decree No. 67-1126 of December 22, 1967, supplementing
the law of January 6, 1966. The Lessee shall be required to pay to the Lessor
the VAT at the rate in force on the principal amount of the rent.





20.
Selection of Domicile:




For the
execution of these presents, the Lessee selects his domicile as the locales
rented and the Lessor the domicile of the Property Manager. These domiciles are
attributive of jurisdiction and all announcements and notifications shall
validly be made there.




Created
in three original copies in Paris, on
(Handwritten)  01/21/2008





THE
      LESSEE
              THE
      LESSOR (1)





(1)
Please attach signature next to the handwritten reference, "read and approved"
and initial each page.


16


DAUCHEZ


PROPERTY
ADMINISTRATORS


FEE
SCHEDULE





LEASING
(fees shared in equal parts between the owner and the tenant)


Topic
                  Assessment
                  Rate Excluding
                    Tax
                  Rate Including TaxProperty
      Lease
                  
                  
                  1 month’s net rentPer
      additional year beyond 3 years
                  1st
      year's net rent charge
                  0.50%
                  0.60%LEASING
      (fees borne exclusively by the tenant)Furnished
      Property Lease
                  Rent
      charges including 1st
      year
                  11.00%
                  13.16%Per
      additional year
                  0.50%
                  0.60%Private
      Parking
                  SET
      FEE
                  100.00
      €
                  119.60
      €Commercial
      Lease
                  1st
      year's rent, excluding tax, or
                  30.00%
                  35.88%1st
      three year period's rent, excluding tax
                  10.00%
                  11.96%DRAFTING
      OF DOCUMENTS(fees
      shared in equal parts between the owner and the tenant)Studio,
      2 rooms, 3 rooms
                  Lease
      Commission including Tax
                  10.45%
                  12.50%4
      Rooms and loft
                  
                  8.36%
                  10.00%DRAFTING
      OF DOCUMENTS (fees paid by the tenant)Commercial
      Property
                  Basic
      annual rent including tax with a minimum of 400 Euros including
      tax
                  1.00%
                  1.20%Private
      Parking
                  SET
      FEE
                  30.00
      €
                  35.88
      €INVENTORY
      (fees borne exclusively by the tenant) ENL Law No. 2006-872 from July 13,
      2006STUDIO
                  SET
      FEE
                  117.06
      €
                  140.00
      €2
      ROOMS
                  133.78
      €
                  160.00
      €3
      ROOMS (Double Living Room + 1 Bedroom)
                  146.32
      €
                  175.00
      €4
      or 5 ROOMS (Double Living Room + 2 or 3 Bedrooms)
                  229.93
      €
                  275.00
      €6
      or 7 ROOMS (Double Living Room + 4 or 5 Bedrooms)
                  305.18
      €
                  365.00
      €INVENTORY
      (fees borne exclusively by the tenant)Furnished
      properties and leases overriding the law of 07/06/1989
      (Increase)
                  Total
      Amount of the Inventory Cost including Tax
                  +30.00%INVENTORY
      (fees borne exclusively by the tenant)Commercial
      Property < 100 m2
                  SET
      FEE
                  154.68
      €
                  185.00
      €Commercial
      Property between 100 and 200 m2
                  229.93
      €
                  275.00
      €Commercial
      Property > 200 m2
                  305.18
      €
                  365.00
      €LEASE
      RENEWAL AND AMENDMENTS(For
      occupying premises, fees shared in equal parts between the owner and the
      tenant)Dwelling
                  Base
      Annual Rent, excluding tax
                  3.00%
                  3.59%Commercial
                  5
      to 10%
                  5.98
      to 11.96%Negotiation
      of Commercial Lease (increase)
                  3.00%
                  3.59%THREE
      YEAR REVISION FOR COMMERCIAL PROPERTIESUp
      to 30,500 Euros in annual rent, excluding tax
                  SET
      FEE
                  260.00
      €
                  310.96
      €Above
      30,500 Euros in annual rent, excluding tax
                  460.00
      €
                  550.16
      €TENANT
      MANAGEMENT (Fees to be borne by the Lessor/Owner)Maximum
                  Amounts
      collected, including tax
                  8.360%
                  10%Maximum
                  SET
      FEE
                  610.00
      €
                  729.56
      €Fixed
      management fees
                  By
      Tenant and Annually
                  30.00
      €
                  35.88
      €Property
      Tax Statement (Minimum)
                  Each
      Statement
                  50.00
      €
                  59.80
      €Service
      without term
                  Fees
      – set unit fee
                  150.00
      €
                  179.40
      €Following
      Extraordinary Work
                  Total
      amount due for work, including tax (following task)
                  2
      to 5%
                  2.39
      to 5.98%SALE(Fees
      to be borne by the Owner/Seller)Dwelling/Commercial
      Property
                  Sale
      price excluding tax and fees
                  4.18
      to 8.36%
                  5
      to 10%





VAT in effect as of April 6,
2007:                19.60%           Fee
Schedule No. 14 dated April 6, 2007










COLLECTION


OF


ADMINISTRATIVE


DOCUMENTS





From
the Prefecture of Paris


and
from the Prefecture of Police





THE
ENTIRE COLLECTION OF ADMINISTRATIVE DOCUMENTS FROM


THE
PREFECTURE OF PARIS AND THE PREFECTURE OF POLICE IS


AVAILABLE
FOR CONSULTATION ON THE WEBSITE:





HTTP://WWW.PARlS.PREF.GOUV.FR/





Sales Price: 1.22 € (8 F) – Annual
Fee: 30.49 € (200 F) -All orders, sales, including the number and
subscription may be paid by check, made out
in the name of the Receipt Manager - Prefecture of Paris, 17, boulevard Morland,
75915 - Paris cedex 04


ISSN
0987-1146





PREFECTURE
OF PARIS





Division
of Urban Housing and Equipment





Prefectural
Decree No. 2006-45-1


with
Paris being designated as a community exposed to major technological and natural
hazards and setting the information modes of acquirers and tenants of property
located in Paris regarding the aforementioned hazards




The
Magistrate of the Ile de France area;


Magistrate
of Paris,


Officer
of the Legion of Honor




Whereas
the general code of the collectivity of territories;


Whereas
the Environmental Code and, in particular, its articles L. 125-5 and R. 125-23
to R. 125-27;


Whereas
the Building and Housing Code and, in particular, its articles L.271-4 and
L.271-5;


Whereas
the Insurance Code and, in particular, its articles L. 125-2 and L.
128-2;


Whereas
Law No. 89-462 of July 6, 1989 (amended), tending to improve rental reports and
modifying Law No. 86-1290 of December 23, 1986 and, in particular, its article
3-1;


Whereas
the Ministerial Decree of October 13, 2005 giving definition to the model of
printed material for the establishment of the natural and technological hazards
report


Whereas
the Interministerial Circular of May 27, 2005, relative to information of the
acquirers and tenants of property concerning major natural and technological
hazards;


Whereas
the Inter-Prefectural Decrees from January 26, 1966, February 25, 1977, and
March 19, 1991, relative to the hazards linked to the presence of old mines and
pre-Ludian gypsum areas in the sub-soil of Paris;


Whereas
the Prefectural Decree No. 2003-196-1 from July 15, 2003, with approval of Flood
Risk Prevention Plan (PPRI) of the department of Paris;




On the
proposition from the director of Urban Housing and Equipment,




DECREE:




Article
1:




The
provisions of subparagraphs I and II of article L. 125-5 of the Environmental
Code are applicable to the community of Paris, in regard to the following major
hazards:




1 – The
risk of flooding, which is the object of a Flood Risk Prevention Plan (PPRI),
approved through the Prefectural Decree of July 15th, 2003 mentioned
above;




2 – The
hazards linked to the presence of old mines and pre-Ludian gypsum areas in the
sub-soil of Paris, covered by the aforementioned Inter-Prefectural Decrees from
January 26, 1966, February 25, 1977, and March 19, 1991;




Article
2:


The
acquirers’ and the tenants’ duty for information for property located in Paris
regarding the hazards mentioned in I and II of Article L. 125-5 and Articles R.
125-23 to R. 125-27 of the Environmental Code, and mentioned in Article 1 above,
applies, within the community of Paris, under the conditions defined in Articles
5, 6, 7, and 8 of this decree.




Article
3:


The
elements necessary to the information of the acquirers and the tenants from the
sellers or leasers (whether they are owners or not) concerning the property
which is the object of a transaction, relative to the location of the buildings
concern in regard to the areas with identified major natural hazards, located in
Paris, are outlined in the file attached to this decree, which
includes:




The list
of major hazards set forth in the Article 1 of this decree;




For each
of the hazards mentioned below, a synthetic tag describing the nature and the
intensity (to the extent possible) of the hazards enumerated in the territory of
the community of Paris;


Mapping
of the areas considered at risk;


References
of the documents to which the seller or the Lessor may refer;


1




COLLECTION
OF ADMINISTRATIVE DOCUMENTS


NUMBER
3 (a) OF FEBRUARY, 2006










List of
ministerial orders acknowledging the previously recorded natural catastrophe
report and dealing with all or part of the community of Paris. Article
4:


The file
and the reference documents mentioned in Article 3 of this decree are viewable
at:




The City
Hall of Paris;


The
Prefecture of Paris - Urban Housing and Equipment Administration - Environment
and Heritage Center, 50, avenue Daumesnil, in Paris, 12th district.




Article
5:


Before
drawing up a sales or leasing Contract, the seller or Lessor is obligated to
furnish to the acquirer or tenant, in accordance with the information mentioned
in this decree and its appendices, a report of the hazards relative to the
building concerned, which must have been drawn up less than six months before
the date said Contract is finalized.




Said
report, created in conformity with the model defined by the ministerial decree
of October 13, 2005, is attached depending on the case:




The
diagnostic technique attached to the sales Contract in the conditions set forth
in Article L 271-4 of the Building and Housing Code;




The lease
Contract, in the conditions and according to the modalities set forth in article
3-1 of Law No. 89-462 of July 6, 1989.




Article
6:


The
property mentioned in article 3 of this decree includes all of the types of
buildings, whether for housing or not, whatever their purpose might
be.


Article
7:


The
contracts mentioned in article 5 of this decree are, specifically:




Unilateral
sales or purchasing agreements, sales contracts, and written lease contracts for
property, and include all types of contracts giving rise to a “3, 6, 9 year”
leasing agreement




Seasonal
or vacation leases, furnished leaseholds, etc.;




Presale
contracts (VEFA), free transfers, exchanges with or without compensation,
donations, successionaldivisions
or related transactions, long-term rental agreements, etc.




Article
8:


The
following are not of concern for the dispositions of article 5 in this
decree:




Individual
home construction Contracts without supplying the land;




Unwritten
lease contracts (oral rental agreements);




Residency
contracts in establishments including collective locales, in particular those
offering services to their residents (hostels, nursing homes,
etc.);


Property
sales within the context of judicial procedures;


Property
transfers carried out within the framework of pre-emptive procedures,
abandonment and expropriation, when they are carried out for the benefit of the
assignees of these rights.




Article
9:




The
owners of buildings that receive compensation granted for damages caused by a
natural catastrophe through ministerial decree must inform purchasers or
lessees, under the same conditions as those envisaged in article 5 of this
decree.




Article
10:


The
contracts of article 9 of this decree are, specifically applicable:


To sales
and written leasing contracts for building properties, and include all types of
contracts giving rise to a “3, 6, 6.9 year” leasing agreement


Legal
acts linked to seasonal or vacation leases, and furnished leaseholds,
etc.;




To acts
linked to free transfers, exchanges with or without compensation, donations,
successional divisions and related transactions, long-term rental agreements,
etc.







COLLECTION
OF ADMINISTRATIVE DOCUMENTS


NUMBER
3 (a) OF FEBRUARY, 2006










Article
11:


The
following are not of concern for the dispositions of article 9 in this
decree:




Individual
home construction Contracts without supplying the land;


Residency
contracts in establishments including collective locales, in particular those
offering services to their residents (hostels, nursing homes,
etc.);


Property
sales within the context of judicial procedures;


Property
transfers carried out within the framework of pre-emptive procedures,
abandonment and expropriation, when they are carried out for the benefit of the
assignees of these rights.




Article
12:


This
decree is updated at the time of each change in orders as envisaged in the
1st
article above and for all prescription or publication of a new risk prevention
plan.




The
information contained in the file envisaged in article 3 of this decree is
updated in accordance with the prescriptions mentioned in Clause III of article
R.125-5 of the Environmental Code and, if applicable, when the Official Gazette
of the French Republic publishes any new ministerial decree acknowledging
natural catastrophes which affect all or part of the community of
Paris.




Article
13:


The
obligations conferred to sellers and lessors by the dispositions of this decree
are applicable from the first day of the fourth month following their
publication in the Collection of Administrative Acts of the Prefecture of Paris
and the Prefecture of the Police.




Article
14:


Notification
of this decree shall be issued to the Paris City Hall. It will be posted in each
Paris District Town Hall for one month beginning with its reception by the
directors-general of the services of the district town halls.




A copy of
this decree and its appendices shall be addressed to the Paris Notary
Departmental Chamber.


This
decree, as well as its modalities for searching, will be the subject of a
notification of publication in the local press.




Article
15:


Any
appeal against this decree must arrive at the Administrative Court of Paris,
within two month, from the date of its publication in the Collection of
Administrative Acts of the Prefecture of Paris and the Prefecture of
Police.




Article
16:


The
Magistrate, the Secretary General of the Prefecture of Paris, the Chief of
Police, the Regional Director of Environmental Affairs, the Regional Director of
Industry, Research, and the Environment of the Paris City Hall, are responsible,
in the capacity that each of them bears, for the execution of this decree, that
will be published in the Collection of the Administrative Acts of the Prefecture
of Paris and the Prefecture of Police, and is accessible on the internet site of
the Prefecture of Paris. www.paris.pref.gouv.fr




Executed
in Paris on February 14, 2006




The
Magistrate of the Ile de France area of Paris




Bertrand
LANDRIEU









COLLECTION
OF ADMINISTRATIVE DOCUMENTS


NUMBER
3 (a) OF FEBRUARY, 2006










Appendix
to the Prefectural Decree No. 2006-45-1 of February 14, 2006


with
Paris being designated as a community exposed to major technological and natural
hazards and setting the information modes of acquirers and tenants of property
located in Paris regarding the aforementioned hazards.




FILE WITH
INFORMATION ON THE MAJOR RISKS TO WHICH THE COMMUNITY OF PARIS IS
EXPOSED




Published
in the Collection of Administrative Decrees of 3 (a) of February 14, 2006 of the
Prefecture of Paris.




In view
of the fact that it is attached to my decree of February 14th, 2006




The
Magistrate of the Ile de France area of Paris




Bertrand
LANDRIEU




I) The
list of hazards enumerated in the community of Paris




The major
hazards that were enumerated on Paris involving:




The risk
of flooding, which is the object of a Flood Risk Prevention Plan (PPRI),
approved through the Prefectural Decree of July 13th,
2003.




The
hazards linked to the presence of old mines and pre-Ludian gypsum areas in the
sub-soil. These hazards, which are specified in the decrees of January 26, 1966,
March 19, 1991, and February 25, 1977, are managed by General Inspectorate of
the city’s mines.




There is
no Plan for the Prevention of Technological Hazards in Paris. Moreover the
department of Paris is not involved in the seismic hazard as defined by the
Modified Decree No. 91-461 from May 14, 1991 relative to seismic
hazard.




II)
synthetic tags for the hazards listed




Tag 1:
Flood Risk


Tag 2:
Risk linked with areas of old mines and gypsum




III)Cartography




The
cartographic elements include:




The
regulatory area map of the Flood Risk Prevention Plan (reduction to format A3 of
the PPRI Paris collective map);


The
perimeter identifying the regulatory areas of the mines and the pre-Ludian
gypsum, specified on the bottom of the APUR parcel map – format A3.




IV)
Reference documents relative to natural hazards




The
reference documents relative to the natural hazards envisaged in I to which the
community is exposed are: Flood Risk Prevention Plan (PPRI), approved through
the Prefectural Decree of July 15th,
2003




Inter-Prefectural
Decrees from January 26, 1966, March 19, 1991, and February 25, 1977, relative
to the hazards linked to the presence of old mines and pre-Ludian gypsum. These
decrees taken under the title of the ex-article R.111-3 of the Urban Code take
the place of the Hazard Prevention Plan (PPR), pursuant to article L.562-6 of
the Environmental Code.




V) the
decrees acknowledge the Natural Catastrophe Report published between 1982 and
2005.




(See
Table below)







COLLECTION
OF ADMINISTRATIVE DOCUMENTS


NUMBER
3 (a) OF FEBRUARY, 2006










RECAPITULATION
OF THE DECREES


CONTAINING
INFORMATION FROM THE NATURAL CATASTROPHE REPORT


FOR
PARIS APPEARING ON FEBRUARY 1ST,
2006





Community
                            
                            Events
                            
                            Date events
                              began
                            
                            Date events
                              ended
                            
                            Date decree was
                              publishedParis,
      (Districts: 12, 13 and 14)
                            
                            Floods
      and mud slides
                            
                            06/05/1983
                            
                            06/06/1983
                            
                            08/03/1983Paris,
      (Districts: 12, 13 and 14)
                            
                            Floods
      and mud slidesHail/storms
                            
                            05/06/1983
                            
                            06/06/1983
                            
                            09/10/1983Paris,
      (Districts: 1, 2, 3, 4, 5, 6, 7, 10, 11, 12, 13, 14, 15, 18, 19,
      20)
                            
                            Floods
      and mud slides
                            
                            07/27/1990
                            
                            07/27/1990
                            
                            12/07/1990Paris
                            
                            Floods
      and mud slides
                            
                            05/31/1992
                            
                            06/01/1992
                            
                            10/20/1992Paris,
      (Districts: 12, 13 and 14)
                            
                            Floods
      and mud slides
                            
                            05/25/1992
                            
                            05/25/1992
                            
                            12/24/1992Paris,
      (Districts: 12, 13 and 14)
                            
                            Floods
      and mud slides
                            
                            04/29/1993
                            
                            04/30/1993
                            
                            09/28/1993Paris
                            
                            Floods
      and mud slides
                            
                            07/18/1994
                            
                            07/19/1994
                            
                            12/06/1994Paris
                            
                            Floods
      and mud slides
                            
                            05/30/1999
                            
                            05/30/1999
                            
                            07/21/1999Paris
                            
                            Floods
      and mud slidesground
      movement
                            
                            12/25/1999
                            
                            12/29/1999
                            
                            12/29/1999Paris
                            
                            Floods
      and mud slides
                            
                            07/06/2001
                            
                            07/07/2001
                            
                            08/06/2001Paris
                            
                            Floods
      and mud slides
                            
                            05/31/2003
                            
                            05/31/2003
                            
                            10/03/2003


5




COLLECTION
OF ADMINISTRATIVE DOCUMENTS


NUMBER
3 (a) OF FEBRUARY, 2006








TAG
1: Flood Risk
 Characteristics
      of the flow
                    
                    The
      Seine is a lowland river. Its drainage basin is around 100,000 square
      kilometers (nearly 1/5th
      of the surface of France). It has large tributaries: the Marne, the Yonne,
      the Aube, and the Oise.
                      
                      Their
      output comes from rains, natural drainage of groundwater, and low water
      level support from  the large reservoirs located upstream from
      Paris.Flood
      Risk
                    
                    The
      overflow from the rivers of the Seine Basin can occur beginning in
      November and continuing until May. These are slow and powerful floods that
      occur following long and regular rainfall on the wide drainage basins. The
      length of submersion can reach several weeks, even in exceptional
      circumstances, several months, on a local basis.
                      
                      However,
      in spite of the construction of reservoirs upstream of Paris, whose
      objective is to reduce the risks of floods, and to support low water
      levels, flooding from the Seine remains a major hazard, in particular for
      floodings at the 100-year level. In this respect, it should be considered
      that the dams present in Paris have no effect on floodings of this
      magnitude.Precise
      Information on the Risks
                    
                    The
      flood waves generated at the head of the drainage basin area of the Seine
      taking between 3 and 4 days for Yonne and between 6 and 8 days for
      upstream of the Seine and the Marne to arrive in the Parisian urban area.
      The water rises slowly. It can generally be anticipated since the basin is
      equipped with a system for forecasting the floods. Certain dispositions
      provide for then transmitting the information to the
      population.
                      In
      addition to the impact on safety of people and goods, a significant flood,
      such as the flood of the type which occurred in 1910, can have
      catastrophic consequences for both the population and economic activity,
      taking into account the density of the urbanization and the significant
      duration of the flood. Thus, if a flood like the 1910 flood were to occur,
      nearly 124,000 people would be inundated and without electricity. 162,000
      people would experience flooding in their cellars (and no electricity) and
      499,000 would be without electricity in Paris, that is to say a total of
      approximately 785,000 people impacted. The cost of the direct and indirect
      damage is estimated to be more than 10 billion euros for the Ile-de-France
      area without grids, including between 0.6 and 1.8 billion in damages to
      the habitat.
                      
                      The
      largest flood on record in Paris occurred in February of 1658: 8.96m using
      the scale of the bridge at Austerlitz, is 34 cm above the flood of 1910
      which was taken as the flood of reference for the development of the
      prevention plan for flood risk. The height of the water resulting from a
      flood similar to that of 1910 exceeds two meters at certain spots in the
      town.Actions undertaken to
      ameliorate this risk
                    
                    The
      Flood Risk Prevention Plan is a public utility service attached to the PLU
      that demarcates the areas exposed to flooding risk, and regulated,
      according to the risk estimated by where extent of the risks and of the
      chances meet, the new projects which occupy the ground, defines the
      preventive, protection, and safeguarding measures, which must be taken and
      which in short, may act upon what exists in order to reduce the
      vulnerability of existing property. The following regulated zones have
      been identified by the PPRI of Paris:
                      - 
      Red Zone: principal flow zone of the river in period of
flood;
                      - 
      Green Zone: zones of flood expansion;
                      - 
      Light Blue Zone: residential area located in floodplain with an immersion
      level lower than 1 meter;
                      - 
      Dark Blue Zone: residential area located in floodplain with an immersion
      level higher than 1 meter.
                      
                      The
      PPRI of Paris requests that companies performing a public service mission,
      care, cultural and administrative establishments, set up measures which
      permit them to reduce their vulnerability.Organizations
      to contact for any complementary information
                    
                    Prefecture
      of Paris: Urban Housing and Equipment Administration - Environment and
      Heritage Center, 50, avenue Daumesnil, in Paris, 12th
      district.Resources
                    
                    Urban
      Development Plan for Water Development (SDAGE), approved on June 29th,
      1995 and the Urban Development Plan for Forecasting Flooding in the Seine
      Normandy Watershed - April 2005
Project




6




COLLECTION
OF ADMINISTRATIVE DOCUMENTS


NUMBER
3 (a) OF FEBRUARY, 2006





TAG 2: Hazards linked to the presence of old
mines and pre-Ludian gypsum areas
 Characteristics
      of Paris sub-soil
                
                The
      sub-soil of Paris contains an abundance of certain useful substances such
      as coarse limestone (building stone), gypsum (for making plaster) and
      chalk. These materials, with the exception of chalk, were mined from
      antiquity up until the XIXth
      century using two methods: Open air pits and subterranean
      pits.
                  
                  However,
      the gypsum contained in certain geological layers of the Parisian sub-soil
      is water soluble.  Thus, subterranean water circulation may have
      dissolved much of the gypsum creating in this way subterranean cavities
      called dissolution pockets.Hazards
      created by the presence of old mines and pre-Ludian gypsum
      areas
                
                Ground
      movement is a hazard that may be caused by the old subterranean mines and
      dissolution pocket cavities.  It is a more or less violent
      displacement of the ground and sub-soil.Precise
      Information on the Risks
                
                Ground
      movement due to the mines and subterranean cavities may be:
                  - Slow and continuous:
      This happens when dealing with a progressive deformation which occurs as
      sagging, or compression (reduction of the volume of certain soil under the
      effect of the load applied, from water circulation) or sliding of the
      terrain. The compressions are less deep and the diameter varies between a
      simple depression measuring from a few centimeters to a few meters. It may
      result in the movement of foundations. If the latter are not well
      laid-out, they will not evenly support the weight of the building causing
      cracking.
                  - rapid and
      intermittent: these appear as a collapse (instantaneous vertical
      displacement of the surface of the ground by a violent rupture of
      preexistent underground cavities – natural or artificial – creating an
      opening in a roughly cylindrical excavation called
      subsidence).Location
      of the hazardous areas linked to the presence of pre-Ludian gypsum areas
      and old mines
                
                In
      Paris, the areas containing abandoned mines are known and most of the time
      are mapped.
                  Old
      coarse limestone mines exist in the5, 6, 12, 13, 14,
      15and16thdistricts(770undermined
      hectares), and gypsum mines in the10, 18, 19and20thdistricts(65undermined
      hectares).
                  As
      far as the gypsum dissolution pockets are concerned, they originated from
      local and evolutionary phenomenon. Therefore, they have not been mapped
      previously. One hazardous area of dissolution was defined in the geology
      of the land and by verified incidents. This area covers a part of the 9,
      10, 17, 18, and 19th
      Districts.Actions
      undertaken to ameliorate this risk
                
                In
      the territory of Paris,hazardous perimeterswere defined by prefectural decree under the terms of article
      R111-3(henceforth
      repealed) of the Urban Code. These risk perimeters are used today in the
      PPR (Risk Prevention Plan).Organizations
      to contact for any complementary information
                
                The General Inspectorate of Mines
      (3,avenue du Colonel Henri
      Roi-Tanguy – formerly 1, place Denfert-Rochereau - 75014 Paris) is the
      service for the Town of Paris in charge of risk
      management.Resource
                
                General
      Inspectorate of Mines
(IGC)









COLLECTION
OF ADMINISTRATIVE DOCUMENTS


NUMBER
3 (a) OF FEBRUARY, 2006









Map





Text:


———





Périmètre
      réglementaire des zones de carrières et de gypse
antéludien
                
                Regulatory
      perimeter of areas of old mines and pre-Ludian gypsumLégende
                
                LegendZone
      comportant des poches de gypse antéludien
                
                Area
      containing pre-Ludian gypsum pockets(arrêté
      interpréfectoral du 25 février 1977)
                
                (interprefectural
      decree of February 25, 1977)Zones
      d'anciennes carrières
                
                Areas
      of old mines(arrêté
      interpréfectoral du 19 mars 1991)
                
                (interprefectural
      decree of March 19, 1991)Source:
      Préfecture de Paris
                
                Source:
      Prefecture of ParisFond
      de plan: APUR
                
                Parcel
      Plan: APUREchelle:
      1/45 000
                
                Scale:
      1/45,000DULE
      - BU - BU1 - Nicole Beuvière - avril 2006
                
                DULE
      - BU - BU1 - Nicole Beuviere – April
2006








Map





Text:


———





PLAN
      DE ZONAGE REGLEMENTAIRE DU PPRI DE PARIS
                
                PPRI
      REGULATORY ZONING PLAN OF PARISréduction
      de la carte d'assemblage du PPRI de PARIS approuvé Préfectoral du Juillet
      2003
                
                Reduction
      of the joint card from the PPRI of PARIS approved by the Prefectural of
      July 2003Définition
      de (illegible) = Parcellaire APUR 2000
                
                Definition
      of (Illegible) = APUR Parcel 2000Légende
                
                Legend(The
      rest of the text in box is illegible.)Source
      : I.G.N.
                
                Source:
      I.G.N.Fond
      de plan: IGN BD Topo - 1998
                
                Parcel
      Plan: IGN BD Topographic Map - 1998Echelle:
      1/50 000
                
                Scale:
      1/50,000DULE
      - BU - BU1 - Michel ALBERT - février 2006
                
                DULE
      - BU - BU1 - Michel ALBERT – February
2006





Flood Risk Prevention
(P.P.R.I.)





Hazardous
      areas demarcated by the P.P.R.I.
                    (see
      attachments from P.L.U., Public Service Utility, IV B
    2)





Zone
      of flood expansion (green) demarcated by the P.P.R.I.
                    (see
      attachments from P.L.U., Public Service Utility, IV B
    2)





Ground Movement Risk
Prevention





Areas
      of old subterranean mines
                    (see
      attachments from P.L.U., Public Service Utility, IV B
    3)





Area
      containing pre-Ludian gypsum pockets
                    (see
      attachments from P.L.U., Public Service Utility, IV B
    2)





Supplementary
      area containing pre-Ludian gypsum
pockets





Map





(Translator’s
note: The following is the text found on the map in this position in the file.
They are names of streets which are not translated.)


Text:


———


8eme                     (8th
District)


Friedland
Boulevard


Courcelles


Faubourg


Champs
Elysées


Avenue
Montaigne


Cours
Albert 1er


Cours la
Reine


Quai
d'Orsay


de
l'Université


Maubourg


Avenue
Franklin D. Roosevelt


ESPLANADE
DES





de
Messine


Haussmann
Boulevard


Courcelles


Faubourg


Av.
Matignon


François
1er


Rue Saint
Honoré





La
Boâtie


Miromesnil


Av. de
Marigny


PALAIS DE
L'ELYSÉE


GRAND
PALAIS


PETIT
PALAIS


'


Rocher


Rome


Malesherbes








Rue
Royale


Place de
la Madeleine


Place de
la Concorde


PALAIS
BOURBON


Quai
Anatole





GARE


S.
LAZARE


Rue Saint
Lazare


Rue
Tronchet


Bd de La
Madeleine


Boul. des
Capucines


Boul. des
Haliens


Rue du
Quatre Septembre


R. de
Castiglione


Rue de
Rivoli


JARDIN
DES TUILERIES


Quai des
Tuileries


OPERA


Place
Vendôme


Rue de la
Paix


Rue de
Rivoli


PALAIS
ROYAL


Rue de
Richelieu








(Translators
note:  Abbreviations and initials are generally not translated due to
the fact that they are usually impossible to identify with certainty. The
translation of the word “Brisis” could not be found anywhere, even after
consulting with other professionals. The original text contains many typos, and
this may be one also.)





cour
              courtH.S.P.
              H.S.P.S.d.E.
              S.d.E.courette
              Courtyardbureau
              Officedégt.
              dégt.cuisine
              Kitchenbrisis
              Brisis
      (does not seem to be a correct word.)piéce
              Bedroom/RoomEsc.
      B
              Staircase
      Bmachinerie
      Asc.
              Elevator
      machinerysanitaire
              Restroomdes
      Champs Elysées
              Champs
      Elysees







Ministry
of Ecology
 and Sustainable
Development
  Natural
and Technological Hazard Report
 Pursuant
to Articles L 125 - 5 and R 125 - 26 of the Environmental Code
 
 1.
This Hazard Report is established based on information set forth by prefectural
decree
 No. 2006- 45
      -1
                  of
      February 14,
      2006
                  updated
      on
 
 Location
of the property (developed or undeveloped)
 
 
 2.Address Community Postal
Code
 6
Rond Point des Champs Elysées - 75008 Paris
 
 3.
Location of the property as regards one or more Plans for the Prevention of
Foreseeable Natural Disasters [PPRn]
 The
      property is located within the perimeter of a recommendedPPRn
                    Yes
       ̈
                    No
       ̈The
      property is located within the perimeter of a PPRn applied in
      advance
                    Yes
       ̈
                    No
       ̈The
      property is located within the perimeter of an approved
      PPRn
                    Yes
      x
                    No
       ̈
 The
natural hazards targeted are:
 
 Flood
       ̈
                          
                          Torrential
      flooding  ̈
                          
                          Rising
      groundwater  ̈Avalanche
       ̈
                          
                          Ground
      movement  ̈
                          
                          Drought
       ̈Earthquake
       ̈
                          
                          Hurricane
       ̈
                          
                          Volcano
       ̈Forest
      fire  ̈
                          
                          Other
 
 4.
Location of the property as regards one or more Plans for the Prevention of
Technological Disasters [PPRt]
 The
      property is located within the perimeter of an approved
      PPRt
                    Yes
       ̈
                    No
      xThe
      property is located within the perimeter of a recommended
      PPRt
                    Yes
       ̈
                    No
      x*The
      technological hazards targeted are:
 
 Thermal
      impact oOver
      pressure impact  ̈
                      
                      Toxic
      impact  ̈
 
 5.
Location of the property relative to regulatory earthquake zoning
 Pursuant
to decree No. 91-461 of May 14, 1991 relative to the prevention of seismic
hazard, modified by decree No.2000-892 of September 13, 2000
 The
      property is located within a seismic community
                  zone
      1a ̈
                  zone
      1b ̈
                  zone
      II ̈
                  zone
      III ̈
                  Zone
      0x
 
 attached
documents
 
  6.Location
 Extracts
from reference documents or files which show the location of the building
relative to the hazards targeted
 
 (Refer
to attachment of PPRI Paris Zoning plans, and the areas of mines and
gypsum)
 
 Seller/Lessor
– Purchaser/Tenant
  7. Seller –
      LessorFirst and last name delete where
      inapplicable
                      SCI
      at 4/6 Rond Point des Champs-Elysees8. Purchaser – Tenant
      First and last name
                      INTER
      PARFUMS Company
 delete
where inapplicable
 
 9.
      Date
                in
      Paris
                on
      07/21/2008
 
 This
Natural and Technological Hazard Report is established based on information set
forth through disposition by the Magistrate of the Department. In the event of
failure to respect, the purchaser or the tenant may pursue a settlement of the
contract or may request before the judge a reduction in the price.
 [See
Article 125-5 of the Environmental Code]
  
  Who
and how must one comply with the Natural and Technological Hazard
Report?
 at
the time of any real estate transaction related to any type of written lease
contract, for the reservation of a property sold prior to completion, for a
promise of sale or carrying out or certifying the sale of a developed
property
 
 Who is affected?
 
 ·
                In
      the terms of Articles L.125-5 and R 125-23 to 27 of the Environmental
      Code, real estate purchasers or tenants, of any nature, must be informed
      by the seller or Lessor, who may or may not be a real estate professional,
      of the existence of hazards to which this property is
    exposed.
 A hazard
report, based on information handed down by the Magistrate of the department in
the City Hall of the community where the property is located, must be attached
to any type of written lease contract, for the reservation of a property sold
prior to completion, for a promise of sale or carrying out or certifying the
sale of a developed property.
 What is the field of application of
this obligation?
 
 ·
                This
      informational obligation applies in all communities enumerated as decreed
      by the Magistrate of the department, for developed or undeveloped
      properties located:
 1.
                within
      the perimeter of exposure to risk demarcated by a Plan for the Prevention
      of Technological Hazards approved by the
  Magistrate;
 2.
                within
      an area exposed to the risks demarcated by a Plan for the Prevention of
      Foreseeable Natural Disasters approved by the Prefect or for which certain
      provisions were made immediately opposable pursuant to the Environmental
      Code (article L. 562-2).
 3.
                within
      the perimeter studied within the framework of the creation of a Plan for
      the Prevention of Technological Hazards or a Plan for the Prevention of
      Foreseeable Natural Disasters handed down by the
    Magistrate;
 4.
                within
      one of the seismic zones 1a, 1b, II or III mentioned in Article 4 of the
      decree of May 14, 1991.
 NB: The
term real estate applies to all individual or collective construction, on any
type of terrain, parcel, or a group of contiguous parcels belonging to the same
property or the Lessor.
 Where can reference documents be
consulted?
 
 ·
                For
      each community concerned, the Magistrate of the department has handed
      down:
 -
                The
      list of foreseeable natural and technological disasters which
      includes:
 -
                The
      list of documents to which the seller or the Lessor may
    refer;
 ·
                The
      prefectural decree includes as an appendix, for each community
      concerned:
 1.
                one
      or more extracts from documents allowing areas of the community to be
      demarcated that are exposed to the determined
  risks;
 2.
                a
      tag explaining the nature and, to the extent possible, the intensity of
      the risks in each of the areas and perimeters demarcated by the Plan for
      the Prevention of Natural and Technological Hazards and in the seismic
      zones 1a, 1b, II, or III.
 ·
                The
      Magistrate addresses a copy of the Decree to the City Hall of all
      interested communities and to the Paris Notary Departmental Chamber.
 ·
                The
      decree is posted in the town halls of these communities and is published
      in the Collection of State Administrative Acts in the
      department.
 ·
                A
      notice of publication of the decree is inserted in a journal distributed
      in the department.
 ·
                The
      decrees are updated:
 -
                When
      the Magistrate’s decree goes into effect making certain provisions of a
      Plan for the Prevention of Foreseeable Natural Disasters immediately
      opposable, or after approving a Plan for the Prevention of Foreseeable
      Natural Disasters or a Plan for the Prevention of Technological Risks, or
      when approving the revision of one of these
  plans;
 -
                When
      new information is placed at the knowledge of the Magistrate which allows
      changes in the estimate of the level of local seismicity, of the nature or
      of the intensity of the risk to which all or part of a community that is
      the object of one of these plans may be
exposed.
 ·
                The
      documents mentioned above may be consulted in the Town Halls of the
      communities concerned as well as in the prefecture and in the
      sub-prefectures of the department where it locates the property put on
      sale or up for lease.  Certain documents may be directly
      consulted on the internet on the site of the department
      Prefecture.
 Who establishes the Risk
Report?
 
 ·
                The
      Risk Report is created directly by the seller or Lessor, and when
      appropriate with the help of a professional that intervenes in the sale or
      leasing of a property.
 ·
                This
      report must be created at least six months before the date of conclusion
      of any type of written lease contract, for the reservation of a property
      sold prior to completion, for a promise of sale or carrying out the sale
      of a property to which it is
attached.
 ·
                It
      is valid for the entire duration of the contract and its possible renewal.
      In the event of a joint lease, it is provided to each signatory when
      he/she first enters the locales. If appropriate, it is updated if one
      entry is different from the other of the joint
  tenants.
 What information must
appear?
 
 ·
                The
      Risk Report mentions the seismicity and natural or technological hazards
      targeted in the Prevention Plan(s) and those to which the property is
      exposed. This report is accompanied by extracts from reference documents
      which allow the property to be located relative to the
      hazards.
 How is the Risk Report filled
out?
 
 ·
                It
      is sufficient to refer to the property, the information contained in the
      prefectural decree, and in the reference documents: the situation
      regarding the Prevention Plan(s), nature of the risks run and local
      seismicity.
 Within what timeframe is the obligation
applicable?
 
 ·
                The
      Risk Report is due on the first day of the fourth month following the
      publication of the prefectural order to the collection of the
      administrative acts in the department and presumably from the 1st
      of June, 2006.
 The obligation of information on
damages as a result of a natural or technological catastrophe
 
 ·
                If
      the community were the subject of one or more decrees of acknowledgment of
      the Natural or Technological Catastrophe Report, and if the property were
      the subject of a specific compensation, it is advisable to attach to the
      contract a declaration of the disaster(s) compensated of which one is
      aware. This declaration does not use the specific printed paper
      form.
 Preservation of the Risk
Report
 
 ·
                The
      seller or the Lessor must retain one copy of the Risk Report dated and
      approved by the acquirer or tenant, to be able to prove that it was indeed
      given during the signature of the sales contract or lease of which it is a
      component.
 
 To
find out more, visit www.prim.net
 ———————————————————————————————
 Ministry
of Ecology and Sustainable Development– 20, avenue de Segur 75012 PARIS –
standard 01 42 19 20 21 – www.ecologie.gouv.fr