Exhibit




Exhibit 10.33





March 2, 2015 




Renato Semerari 
C/o Coty Geneva SA Versoix 




Amendment to your Employment Agreement with Coty




Dear Renato, 


I am pleased to confirm our agreement to evolve your employment agreement signed with Coty Geneva SA Versoix on July 4, 2012 (the “Employment Agreement”) as follows:


Section 5.1 of the Employment Agreement is cancelled and replaced with the new section 5.1 hereunder:


Either party may terminate this Agreement with ninety days written notice to the other party. Should the Company terminate the employment without cause, with the exception of a transfer of the Employee to another direct or indirect affiliate or sister company of Coty, the Company shall pay the Employee, in exchange of a full release and settlement, a severance amounting to fifteen months base salary, inclusive of any amounts due under the applicable labor laws and collective agreements and subject to all applicable withholdings. 


All other terms of your employment contract remain unchanged. All changes become effective as of the signature of this amendment.


I am asking you to confirm your acceptance of this amendment by returning two signed copies with the hand written mention ‘read and approved’ by March 9, 2015. 


Best regards,


	
			
	 
	 
	 

	/s/Geraud Marie Lacassagne
	 
	/s/Rebeca Pascual

	Geraud Marie Lacassagne
	 
	Rebeca Pascual

	SVP Human Resources
	 
	Human Resources Director

	Coty
	 
	Switzerland & TREX

	 
	 
	 

	 
	Read and Accepted
	 

	 
	Date and Signature
	 

	 
	Renato Semerari
	 

	 
	Read and Accepted
	 

	 
	02/03/15
	 

	 
	/s/Renato Semerari
	 













From : Renato Semerari 
To : Geraud-Marie Lacassagne 
Date : March 6, 2015 




Re: Personal & Confidential-Career Opportunities 




Dear Geraud Marie, 




Contrary to what I indicated previously, I will not be able to make a final decision this week. Discussions have progressed well but I still do not have full visibility when the transaction might close. I remain very determined to grasp that opportunity and I am conscious of the need for Coty to ensure proper continuity of its business. 


To that point, I am thankful for the proposed amendment to my employment agreement which shall provide both Coty and me with some flexibility to manage the upcoming period. 


You also shared with me the progress made on the search for my successor and you indicated that you were now ready to make an offer. I am well aware that delaying the offer would delay the start date of my successor and increase the risk of disruption at Coty. I am comfortable and supportive for you to make a firm employment offer to that person. I am confident that the situation will resolve one way or another before his start date. 




	
	
	Best

	 

	/s/Renato Semerari

	Renato Semerari,

	President, Categories & Innovation
















March 9, 2015 




Renate Semerari 
C/o Coty Geneva SA Versoix 








Dear Renato,


Thanks a lot for keeping me informed of the progress regarding your personal situation. 


You asked me to further specify how Coty would handle the APP and your vested equity.


APP - I would anticipate that Coty would pay the FY15 APP on a pro-rated basis if your employment agreement were to cease before the end of the current fiscal year. This would reflect the discussions Bart, you and I had on this topic. 


Vested Equity -Your project would require for you to make an investment and you would expect to sell all your vested equities soon after resigning. I confirm that Coty would assist you in this and would buy back your equities at market price if this occurs outside an open window. 






	
	
	Best regards

	 

	Géraud Marie

	 

	Best regards,

	 

	/s/Géraud Marie Lacassagne

	Géraud Marie Lacassagne

	SVP Human Resources