<PAGE>

                                                                   Exhibit 10.13


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<TABLE>
<CAPTION>
<S>                <C>                                     <C>

  ------------------------------------------------------- ------------------------------------------------------
  Category:                                               Locations:
                           PAY                                                ALL DOMESTIC
  ------------------------------------------------------- ------------------------------------------------------
    Title:                                                Employee Groups:
                   EXECUTIVE SEVERANCE                                   ALL ELIGIBLE EMPLOYEES
  ------------------------------------------------------- ------------------------------------------------------
                                                          Approved by:                    Number:
  Effective Date:
                                                                                            C-1A
  7/01/02
                                                          SVP, Human Resources
  ------------------------------------------------------- ------------------------------- ----------------------
</TABLE>



                           EXECUTIVE SEVERANCE POLICY

                        As Amended Effective July 1, 2002

I.       POLICY
         ------

         It is the intent of this Policy to provide non-binding guidelines for
         the granting of severance pay and certain other benefits to certain
         employees separated from the Company.

II.      APPLICATION AND ELIGIBILITY
         ---------------------------

         This Policy applies to all terminations of employment on or after the
         effective date of July 1, 2002 of employees of Revlon Consumer Products
         Corporation ("Revlon"), and participating employers listed on Annex A
         (the "Company") who are classified in executive grades 13 (or
         equivalent) and above. This Policy supersedes any and all prior
         policies or practices relating to severance pay for such employees
         including the Executive Severance Policy as adopted effective January
         1, 1996 as subsequently amended except Revlon's Personnel Policy C-1,
         Severance Pay. The acceptance of any severance pay or benefits under
         this Policy shall constitute a waiver of any severance pay the employee
         would have been entitled to under any such superseded policies or
         practices and under Revlon's Personnel Policy C-1, Severance Pay.

         Payments and benefits under this Policy are not required under the
         Company's standard policies generally applicable to salaried employees.
         Employees are eligible for severance pay or benefits under this Policy
         only if they execute and



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Category             Title                                            Number
PAY                  EXECUTIVE SEVERANCE                              C-1A
-------------------- ------------------------------------------------ ----------


         comply with the terms of a release and confidentiality agreement
         satisfactory to the Company in its sole discretion and execute and
         comply with all obligations under the Employee Agreement as to
         Confidentiality and Non-Competition as the same may be in effect from
         time to time (the "Agreements"). Employees who do not execute and
         comply with the terms of the Agreements are not eligible under the
         Policy.

         This Policy does not apply to any persons classified by the Company as
         an independent contractor, in accordance with the Company's standard
         personnel practices, regardless of whether the person is thereafter
         held to be a common law employee of the Company by a court, the
         Internal Revenue Service or any other relevant federal, state or local
         government authority or agency or comparable foreign governmental
         authorities, or are a part-time merchandiser.

III.     ADMINISTRATION
         --------------

         A.    EXCLUSIONS
               ----------

               Severance pay or other benefits will not be granted under any
               circumstances to an employee who leaves the Company,
               including, without limitation, by:

                     1.     Resignation

                     2.     Retirement under the terms of the Revlon Employees'
                            Retirement Plan or any other pension plan that might
                            be provided by the Company.


         Severance pay and any other benefits will also not be granted to an
         employee who is discharged for good reason as determined by the Company
         in its discretion, including, without limitation, for:

         1.    Violation of Company policy, including, without limitation, the
               Code of Business Conduct;

         2.    Disclosure or misappropriation of confidential information, trade
               secrets or corporate opportunities;







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                                                                    Page 3 of 10
-------------------- ------------------------------------------------ ----------
Category             Title                                            Number
PAY                  EXECUTIVE SEVERANCE                              C-1A
-------------------- ------------------------------------------------ ----------



         3.    Violation of the Employee Agreement as to Confidentiality and
               Non-Competition;

         4.    Negligent failure to safeguard Company property or negligently
               defacing or destroying company property;

         5.    Improperly engaging in physical violence in connection with
               employment;

         6.    Insubordination;

         7.    Commission of an act which constitutes a felony or misdemeanor
               under applicable Federal, State, foreign or local law;

         8.    Unlawful manufacture, distribution, dispensation, possession or
               use of a controlled substance on Company premises or while
               conducting Company business off Company premises;

         9.    Misappropriation, falsification and/or unauthorized alternation
               of Company records;

         10.   Possession of firearms or lethal weapons of any kind on Company
               premises or while conducting Company business off Company
               premises, without Company authorization;

         11.   Conflict of interest not duly reported and resolved;

         12.   Sabotage, malicious adulteration of product, industrial
               espionage; or

         13.   Commission of any other act that is intentionally detrimental to
               the Company's business or reputation.


               Severance pay and benefits under this Policy will not be
               granted where the Company sells or otherwise disposes of the
               business or unit in which the employee was employed, and
               either (i) the employee accepts employment with the buyer of
               those operations or (ii) the employee rejects an offer of
               employment by the buyer involving compensation and benefits
               substantially equivalent, taken as a whole, to the employee's
               compensation and benefits with the Company.


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Category             Title                                            Number
PAY                  EXECUTIVE SEVERANCE                              C-1A
-------------------- ------------------------------------------------ ----------


               If subsequent to the commencement of severance payments and
               benefits the Company discovers that the employee committed
               acts while employed which would have constituted good reason
               for discharge, or discovers that the employee at any time
               violated either of the Agreements, the Company may cease
               further severance payments and benefits and may require the
               employee to reimburse the Company for all severance payments
               and benefits previously made.

         B.    SEVERANCE PAY
               -------------

               There is no guarantee of any amount of severance pay to any
               employee. However, a severance pay award may be made based on the
               employee's executive grade level and length of service in
               accordance with the schedule identified below ("Severance
               Period"), provided that the employee executes and complies with
               the Agreements provided for in Section II. hereof. In determining
               whether and how much severance to award in any individual case,
               the Company may consider the circumstances of the employee's
               termination and the employee's performance history, among other
               factors.

               The following schedule sets forth guidelines for the number of
               months of severance pay eligible employees would be eligible to
               receive if they execute and comply with the Agreements provided
               for in Section II. hereof ("Severance Period"):


<TABLE>
<CAPTION>


                                                        Supplemental Severance
                                                        Period Based On Years     Total Maximum Combined
       Executive Grade Level    Basic Severance         of Combined Service       Benefit ("Severance
                                Period                                            Period")
      <S>                       <C>                     <C>                       <C>
       20 and above             18 months               6 months                  24 months
       16-19                    12 months               6 months                  18 months
       13-15                    6 months                12 months                 18 months
</TABLE>



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Category             Title                                            Number
PAY                  EXECUTIVE SEVERANCE                              C-1A
-------------------- ------------------------------------------------ ----------



               If benefits are awarded, eligible employees will receive the
               severance pay awarded at the base rate of pay in effect as of the
               date of employment termination payable bi-weekly.

               If severance pay or benefits under this Policy result from
               termination of employment due to a change of control of Revlon,
               the amounts scheduled may, if the Company elects in its sole
               discretion in the case of any particular employee, either (i) be
               cut back as necessary to prevent the employee from incurring the
               20% excise tax imposed under federal law on executives who
               receive "golden parachute" awards or (ii) be supplemented so that
               the net amount retained by the employee after deduction of such
               excise tax and any additional income tax payable on such
               supplemental payment, shall equal the amount scheduled.

         C.    COORDINATION OF BENEFITS/MITIGATION
               -----------------------------------

               If during the Severance Period the employee accepts other
               employment or a consultancy, or receives unemployment
               compensation benefits, or any other severance or termination
               payments (other than unpaid vacation) or pay in lieu of notice
               due otherwise than under this Policy on account of the employee's
               termination of employment including, without limitation, any
               payments required under any federal, state or local law in any
               jurisdiction (including, without limitation, under the W.A.R.N.
               Act or any local equivalent) and under applicable foreign laws,
               rules, regulations and practices, then except as provided in the
               following sentence, the amounts payable to the employee pursuant
               to Section III.B. shall be reduced by the amount of any
               compensation payable as a result of such other employment or
               consultancy, by the amount of unemployment compensation benefits
               and/or by the amount of such other severance or termination
               payments. Notwithstanding the foregoing, if during the period
               that payments to the employee are provided for pursuant to
               Section III.B., the employee undertakes Permanent Employment (as
               hereinafter defined), then in lieu of reduction of severance
               payments as provided in the preceding sentence, within 10 days
               after the Company determines or the employee provides written
               notice that the employee has undertaken Permanent Employment the
               Company shall pay to the employee a lump sum amount equal to the
               lesser of (i) the then present value (discounted at the rate of
               6% per annum from the respective payment dates provided for in
               Section III.B. to



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-------------------- ------------------------------------------------ ----------
Category             Title                                            Number
PAY                  EXECUTIVE SEVERANCE                              C-1A
-------------------- ------------------------------------------------ ----------



               the date of such determination) of 50% of the balance of the
               payments thereafter provided to be made pursuant to Section
               III.B., or (ii) six months' payments at the rate provided for in
               Section III.B., in either case less amounts required by law to be
               withheld, in satisfaction and discharge of any further obligation
               of the Company under this Policy. For purposes hereof, "Permanent
               Employment" shall mean employment undertaken by the employee (i)
               pursuant to an agreement, offer letter or policy, which
               employment provides expressly or in accordance with applicable
               policies of the new employer for not less than six months'
               severance upon termination of such employment otherwise than for
               good reason, or (ii) which continues with an employer and/or its
               affiliates for not less than three months, or (iii) which the
               employee elects, by written notice to the Company, to treat as
               Permanent Employment for purposes of this Policy.

         D.    REDUCTION FOR PENSION ENHANCEMENT
               ---------------------------------

               Notwithstanding anything herein, if an employee is involuntarily
               terminated in connection with a reduction in force or layoff
               implemented by the Company for which the Company in its
               discretion has elected to provide for enhanced pension benefits
               under any pension plan maintained by the Company for which
               enhanced benefits the employee is eligible, the amount payable to
               the employee pursuant to Section III.B. shall be reduced by the
               Actuarial Value of such enhanced pension benefits if the employee
               is eligible (with or without such enhanced pension benefits) to
               receive an immediate and unreduced pension under such plan as of
               his or her date of employment termination. For purposes of this
               Section III.D. the Actuarial Value of any enhanced pension
               benefits made available to the employee shall be determined based
               on the actuarial assumptions and methodologies used with respect
               to the plan to determine liabilities in accordance with the
               Statement of Financial Accounting Standards No. 87 (Employers'
               Accounting for Pensions) or any amendments thereto or any
               successor standards.

         E.    NON-COMPETITION
               ---------------

               The non-competition provision of the Agreements shall remain in
               effect for the duration of the Severance Period provided for in
               Section



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Category             Title                                            Number
PAY                  EXECUTIVE SEVERANCE                              C-1A
-------------------- ------------------------------------------------ ----------



               III.B., notwithstanding any cessation of payments in the event
               that the employee undertakes Permanent Employment and receives
               the lump sum payment pursuant to Section III.C. or any reduction
               of payments in the event of other payments due on account of the
               employee's termination of employment pursuant to Section III.C.



         F.    CONTINUATION OF MEDICAL/DENTAL BENEFITS
               ---------------------------------------

               If the employee and his/her dependents participate in the
               Company's Medical and/or Dental Plans at the time of employment
               termination, the employee and his/her dependents will be
               permitted to continue participation in the Company's group
               medical and/or dental benefit plans under COBRA at the
               contribution level in effect for active employees until the
               earliest to occur of (1) the end of any Severance Period, (2) the
               date the employee is determined to have undertaken Permanent
               Employment, (3) the expiration of the maximum required period for
               continuation coverage under applicable federal law for which the
               employee would be eligible, or (4) when the employee becomes
               covered by medical or dental plans of another employer or becomes
               eligible for Medicare. Continued participation in the Company's
               other group welfare benefit plans will be governed by the terms
               and conditions of the plans as in effect when employment
               terminates, provided that if such plans are amended as to the
               group of employees in which the employee was included at the time
               of termination, the newer provisions shall apply.

               In order to remain eligible for continued medical or dental
               benefits during the Severance Period, the employee must make
               timely premium payments in the same amount paid by then current
               employees, which amounts will be deducted from the employee's
               severance pay, and must submit such evidence of non-coverage as
               the Company may reasonably require. If the employee is entitled
               and elects under applicable federal law to continue such benefits
               under COBRA after the Severance Period, the employee must make
               timely COBRA premium payments as required and in such manner as
               is acceptable to the Company.



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Category             Title                                            Number
PAY                  EXECUTIVE SEVERANCE                              C-1A
-------------------- ------------------------------------------------ ----------



               If the employee and the employee's dependents participate in the
               Health Care Flexible Spending Account at the time severance
               payments begin, the employee and participating dependents may be
               able to continue participation on an after-tax basis for the
               remainder of the Plan Year in which the employee's employment
               terminates subject to the terms and conditions of the Health Care
               Flexible Spending Plan as in effect from time to time.

         G.    OTHER EMPLOYEE BENEFITS
               -----------------------

               The provisions of other employee benefit and/or compensation
               programs (other than severance policies and practices, including
               Revlon's Personnel Policy C-1, Severance Pay, or the equivalent)
               including, but not limited to, vacation pay and the Executive
               Bonus Plan, concerning benefits available upon termination of
               employment will apply, as such provisions are in effect from time
               to time. This Policy is not intended to describe the provisions
               or administrative practices of any other employee benefit and/or
               compensation program, policy or plan. Any benefits that may be
               available under any other such program, policy or plan must be
               determined solely in accordance with the terms and administrative
               provisions of such program, policy or plan, as in effect from
               time to time.

         H.    EMPLOYMENT CONTRACTS OR OTHER WRITTEN AGREEMENTS IN EFFECT
               ----------------------------------------------------------

               If on the date of termination an employment contract or other
               written agreement between an eligible employee and the Company is
               in effect, then unless otherwise provided by the terms of such
               written agreement the executive will be permitted to choose
               between (i) the severance pay and benefits provided in such
               employment contract or agreement, or (ii) the severance pay and
               benefits payable in accordance with this Policy.

         I.    NON-UNIFORM DETERMINATIONS
               --------------------------

               The Company's determinations under this Policy need not be
               uniform and may be made by it selectively among the persons who
               receive, or are eligible to receive, awards hereunder (whether or
               not such persons are similarly situated).



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Category             Title                                            Number
PAY                  EXECUTIVE SEVERANCE                              C-1A
-------------------- ------------------------------------------------ ----------



         J.    POLICY CONSTRUCTION
               -------------------

               The Company has the final authority and responsibility with
               respect to the construction, interpretation and application of
               the terms of the Policy and the eligibility for severance pay or
               other benefits under this Policy. The Company's decisions in all
               such matters are final and binding. Employees who have questions
               with respect to this Policy may contact Revlon's Senior Human
               Resources executive or his/her designee.

IV.      AMENDMENT OR TERMINATION OF POLICY
         ----------------------------------

         Revlon reserves the right to amend, modify or terminate this Policy or
         any portion of it at any time, and for any reason, in each case without
         advance notice to eligible employees and/or their dependents and/or
         beneficiaries. Any such action shall be authorized in writing.

















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Category             Title                                            Number
PAY                  EXECUTIVE SEVERANCE                              C-1A
-------------------- ------------------------------------------------ ----------




                                                                         ANNEX A

                             PARTICIPATING EMPLOYERS

The Revlon Executive Severance Policy covers the following participating
employers:

o    North America Revsale Inc.
o    Revlon Consumer Corporation
o    Revlon Government Sales, Inc.
o    Revlon, Inc.
o    Revlon Products Corp.
o    New RIROS Inc.
o    RIROS Group Inc.
o    Any other domestic subsidiary of Revlon as the Company may designate
     from time to time.



                                                                          178074













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