Document:

Amendment No. 12 dated December 6, 2006 to the Senior Credit Facility

 Exhibit 10.86 
 AMENDMENT NO. 12 AND CONSENT TO LOAN AND SECURITY AGREEMENT 
 AMENDMENT NO. 12 TO LOAN AND SECURITY
AGREEMENT, dated as of                     , 2006 (this “Amendment No. 12”), entered into by and among Wachovia Bank, National
Association, successor by merger to Congress Financial Corporation (Florida), in its capacity as agent acting for and on behalf of the parties to the Loan Agreement (as hereinafter defined) as lenders (in such capacity, “Agent”), the
parties to the Loan Agreement as lenders (individually a “Lender” and collectively, “Lenders”), Supreme International, LLC, a Delaware limited liability company formerly known as Supreme International, Inc. (“Supreme”),
Jantzen, LLC, a Delaware limited liability company formerly known as Jantzen, Inc. (“Jantzen”), Perry Ellis Menswear, LLC, a Delaware limited liability company formerly known as Perry Ellis Menswear, Inc. (“Perry Ellis
Menswear”), Perry Ellis Europe Limited, formerly known as Farah Manufacturing (U.K.) Limited, a private limited company incorporated in England and Wales (“Perry Europe”), Salant Holding, LLC, a Delaware limited liability company
formerly known as Salant Holding Corporation (“Salant Holding” and together with Supreme, Jantzen, Perry Europe and Perry Ellis Menswear, each individually “Borrower” and collectively, “Borrowers”), Perry Ellis
International, Inc., a Florida corporation (“Parent”), PEI Licensing, Inc., a Delaware corporation (“PEI Licensing”), Jantzen Apparel, LLC, a Delaware limited liability company formerly known as Jantzen Apparel Corp.
(“Jantzen Apparel”), Supreme Real Estate I, LLC, a Florida limited liability company (“Supreme I”), Supreme Real Estate II, LLC, a Florida limited liability company (“Supreme II”), Supreme Realty, LLC, a Florida limited
liability company (“Supreme Realty”), Supreme Munsingwear Canada Inc., a Canada corporation (“Supreme Canada”), Perry Ellis Shared Services Corporation, a Delaware corporation (“PE Shared Services”), Winnsboro DC, LLC,
a Delaware limited liability company (“Winnsboro”), Tampa DC, LLC, a Delaware limited liability company (“Tampa DC”), Perry Ellis International Group Holdings Limited, a private company incorporated under the laws of Ireland
having its principal place of business in the Bahamas (“Group Holdings”) and Perry Ellis Real Estate, LLC, a Delaware limited liability company formerly known as Perry Ellis Real Estate Corporation (“PE Real Estate” and,
together, with Parent, PEI Licensing, Jantzen Apparel, Supreme I, Supreme II, Supreme Realty, Group Holdings, PE Shared Services, Winnsboro, Tampa DC, and Supreme Canada, each individually a “Guarantor” and collectively,
“Guarantors”). 
 W I T N E S S E T H : 
 WHEREAS, Agent, Lenders, Borrowers and Guarantors have entered into financing arrangements pursuant to which Lenders (or Agent on behalf of Lenders) have
made and may make loans and advances and provide other financial accommodations to Borrowers as set forth in the Loan and Security Agreement, dated October 1, 2002, by and among Agent, Lenders, Borrowers and Guarantors, as amended by Amendment
No. 1 to Loan and Security Agreement, dated June 19, 2003, Amendment No. 2 to Loan and Security Agreement, dated September 22, 2003, Amendment No. 3 to Loan and Security Agreement, dated December 1, 2003, Amendment
No. 4 to Loan and Security Agreement, dated February 25, 2004, Amendment No. 5 to Loan and Security Agreement, dated 
  

 July 1, 2004, Amendment No. 6 to Loan and Security Agreement, dated as of September 30, 2004, Amendment
No. 7 to Loan and Security Agreement, dated as of February 26, 2005, Amendment No. 8 to Loan and Security Agreement, dated as of September 30, 2005 Amendment No. 9 to Loan and Security Agreement, dated as of
February 24, 2006, Amendment No. 10 to Loan and Security Agreement, dated as of August 28, 2006 and Amendment No 11 to Loan and Security Agreement, dated as of November     , 2006(as the same may hereafter
be further amended, modified, supplemented, extended, renewed, restated or replaced, the “Loan Agreement”, and together with all agreements, documents and instruments at any time executed and/or delivered in connection therewith or related
thereto, as from time to time amended, modified, supplemented, extended, renewed, restated, or replaced, collectively, the “Financing Agreements”); 
 WHEREAS, Parent, Supreme and Parlux Fragrances, Inc., a Delaware corporation (“Seller”) have entered into or are about to enter into that certain Agreement, dated as of November
    , 2006 (the “Parlux Agreement”), pursuant to which (a) Parent or one of its designated subsidiaries has agreed to acquire all of Seller’s right, title and interest in, to and under (i) the
License Agreement, dated March 14, 1983 (the “Parlux License Agreement”) between Seller and Parent as assigned to Seller effective December 21, 1994 and (ii) the Licensed Marks (as defined in the Parlux License Agreement as
in effect on the date hereof) and (b) Supreme has agreed to acquire all of Seller’s right, title and interest in, to and under all inventory of the Licensed Products (as defined in the Parlux License Agreement as in effect on the date
hereof) and certain assets related thereto (but excluding Accounts), in each case in accordance with the terms of the Parlux Agreement as in effect on the date hereof (collectively, the “Parlux Transaction”); 
 WHEREAS, Borrowers and Guarantors have requested that Agent and Lenders consent to the Parlux Transaction and agree to make certain other amendments to
the Loan Agreement, and Agent and Lenders are willing to do so, subject to the terms and conditions set forth in this Amendment No. 12; and 
 WHEREAS, by this Amendment No. 12, Agent, Lenders, Borrowers and Guarantors desire and intend to evidence such consent and amendments; 
 NOW, THEREFORE, in consideration of the foregoing, the mutual agreements and covenants contained herein, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the
parties hereto agree as follows: 
 1. Definitions. 
 1.1 Additional Definition. 
 (a) “Amendment No. 12” shall mean Amendment No. 12
to Loan and Security Agreement by and among Agent, Lenders, Borrowers and Guarantors, as the same now exists or may hereafter be amended, modified, supplemented, extended, renewed, restated or replaced. 
  

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 (b) “Amendment No. 12 Effective Date” shall mean the first date on which all of the
conditions precedent to the effectiveness of Amendment No. 12 shall have been satisfied and/or waived. 
 (c) “Supplemental
Amount” shall mean, $25,000,000; provided, that, the Supplemental Amount shall be reduced to zero (0) on the earlier of (i) the date that is six (6) months after the Execution Date (as defined therein) under the
Parlux Agreement, (ii) June 30, 2007, (iii) the day on which Borrower Agent shall have notified Agent that it irrevocably elects to reduce the Supplemental Amount to zero (0) or (iv) the day that is 60 days following
day on which any Borrower or Guarantor enters into any agreement pursuant to which such Borrower or Guarantor grants a license to a third party to use the “Perry Ellis” trade name in connection with cologne, perfume or any other fragrance
product. Notwithstanding any other provision of the Loan Agreement to the contrary, at all times prior to the Parlux Transaction and the satisfaction of the conditions set forth in Section 2(a)-(f) of Amendment No. 12 in accordance
with the terms thereof, the Supplemental Amount shall be zero (0). 
 (d) “Supplemental Availability Amount” shall mean, as to
each Borrower, at any time, the amount equal to the Supplemental Amount minus the then outstanding principal amount of Loans and Letter of Credit Accommodations to the other Borrowers based on the Supplemental Amount. 
 1.2 Amendments to Definitions. 
 (a)
The definition of “Borrowing Base” in Section 1.10 of the Loan Agreement is hereby amended by deleting “, or” appearing at the end of clause (a)(i) of such Section and replacing it with the following: “, plus
(D) the Supplemental Availability Amount for such Borrower, or” 
 (b) Clause (g) of the definition of “Eligible
Inventory” in Section 1.30 of the Loan Agreement is hereby amended by deleting such clause in its entirety and replacing it with the following: 
 “(g) Inventory at premises other than those owned and controlled by a Borrower, except any Inventory which would otherwise be deemed Eligible Inventory that is not located at premises owned and operated by such
Borrower may nevertheless be considered Eligible Inventory: (1) as to locations which are leased by such Borrower, if Agent shall have received a Collateral Access Agreement from the owner and lessor of such location, duly authorized, executed
and delivered by such owner and lessor, or if Agent shall not have received such Collateral Access Agreement (or Agent shall determine to accept a Collateral Access Agreement that does not include all required provisions or provisions in the form
otherwise required by Agent), Agent may, at its option, nevertheless consider Inventory at such location to be Eligible Inventory to the extent Agent shall have established such Reserves in respect of amounts at any time payable by such Borrower to
the 
  

 3 

 owner and lessor thereof as Agent shall determine, (2) as to locations owned and operated by a third
person, if Agent shall have received a Collateral Access Agreement from such owner and operator with respect to such location, duly authorized, executed and delivered by such owner and operator or if Agent shall not have received such Collateral
Access Agreement (or Agent shall determine to accept a Collateral Access Agreement that does not include all required provisions or provisions in the form otherwise required by Agent), Agent may, at its option, nevertheless consider Inventory at
such location to be Eligible Inventory to the extent Agent shall have established such Reserves in respect of amounts at any time payable by such Borrower to the owner and operator thereof as Agent shall determine; provided, that, with
respect to any Inventory at premises which are leased or utilized by or contracted for by Parlux Fragrances, Inc. or any of its affiliates (collectively, “Parlux”), Parlux and/or its secured lender shall, at the option of Agent, also be
deemed to be the owner and operator of such premises for purposes of this clause (g);” 
 (c) The definition of “Excess
Availability” in Section 1.40 of the Loan Agreement is hereby amended by adding the words “plus the Supplemental Availability Amount” after “Accommodations)” and before “, minus” in clause (a)(ii)
thereof. 
 (d) Each reference to the term “Financing Agreements” in the Loan Agreement and any of the other Financing Agreements
is hereby amended to include, in addition and not in limitation, collectively, this Amendment No. 12 and the documents, agreements and instruments executed and/or delivered by any Borrower or Guarantor in connection with this Amendment
No. 12. 
 (e) The definition of “Maximum Credit” in Section 1.80 of the Loan Agreement is hereby deleted in its
entirety and the following substituted therefor: 
 “1.80 “Maximum Credit” shall mean (a) from
December     , 2006 through and including May 1, 2007, the amount of $210,000,000 and (b) at all other times, the amount of $175,000,000.” 
 1.3 Interpretation. For purposes of this Amendment No. 12, unless otherwise defined herein, all capitalized terms used herein which are
defined in the Loan Agreement shall have the meanings given to such terms in the Loan Agreement. 
 2. Consent. Subject to the terms
and conditions contained herein, to the extent such consent is or may be required under the Loan Agreement, Agent and Lenders hereby consent to the Parlux Transaction in accordance with the terms of the Parlux Agreement as in effect on the date
hereof; provided, that, each of the following conditions shall have been satisfied as determined by Agent in good faith: 
  

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 (a) as of the date of the Parlux Transaction and after giving effect thereto, no Default or Event of
Default shall exist or have occurred and be continuing; 
 (b) Agent shall have received the Parlux Agreement, dated not later than
December 8, 2006, and all material agreements, documents and instruments executed by any Borrower or Guarantor in connection therewith or related thereto (together with the Parlux Agreement, the “Parlux Documents”), which shall be in
form and substance satisfactory to Agent, duly executed and delivered by the parties thereto; 
 (c) each of the Parlux Documents and the
transactions contemplated thereby shall have been consummated in compliance with all applicable laws; 
 (d) as of the date of the closing
of the Parlux Agreement, the aggregate amount of Excess Availability of Borrowers shall have been not less than $35,000,000 for each of the immediately preceding consecutive thirty (30) days and the aggregate amount of Excess Availability of
Borrowers shall not be less than $40,000,000 immediately after giving effect to the closing of the Parlux Agreement; 
 (e) the assets
acquired pursuant to the Parlux Agreement shall be free and clear of all liens, security interests or other encumbrances, other than those permitted under the Loan Agreement; 
 (f) the Parlux License Agreement shall have been terminated; and 
 (g) in no event shall any Inventory so acquired pursuant to the Parlux Agreement be deemed Eligible Inventory unless and until Agent shall have conducted a field examination with respect thereto (and at Agent’s
option, at Borrowers’ expense, obtained an appraisal of such Inventory by an appraiser reasonably acceptable to Agent and in form, scope and methodology reasonably acceptable to Agent and addressed to Agent and upon which Agent is expressly
permitted to rely, which appraisal shall be in addition to any appraisals which Agent may obtain pursuant to its rights under Section 7.3 hereof) and then only to the extent the criteria for Eligible Inventory set forth herein are satisfied
with respect thereto in accordance with this Agreement (or such other or additional criteria as Agent may, at its option, establish with respect thereto in accordance with this Agreement and subject to such Reserves as Agent may establish in
accordance with this Agreement), and upon the request of Agent, Inventory acquired pursuant to the Parlux Agreement and all Accounts arising from the sale of fragrance products shall at all times after such acquisition be separately identified and
reported to Agent in a manner satisfactory to Agent. 
 3. Loans. 
 (a) Section 2.1(b) of the Loan Agreement is hereby amended by inserting the following immediately before the period at the end of such Section:
“, and (iv) the aggregate principal amount of Loans and Letter of Credit Accommodations outstanding at any time to Borrowers based on the Eligible Inventory of Borrowers consisting of cologne, perfume and other fragrances shall not exceed
$15,000,000.” 
  

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 (b) Section 2.1(c) of the Loan Agreement is hereby amended by adding after the phrase “based
on the Eligible Inventory of all Borrowers exceeds the sublimit set forth above” the phrase “or the aggregate amount of Loans and Letter of Credit Accommodations based on the Eligible Inventory of all Borrowers consisting of cologne,
perfume and other fragrances exceeds the applicable sublimit set forth above.” 
 4. Notice of Fragrance License. If any Borrower
or Guarantor enters into any agreement pursuant to which such Borrower or Guarantor grants a license to a third party to use the “Perry Ellis” trade name in connection with cologne, perfume or any other fragrance product, such Borrower or
Guarantor shall give Agent prompt written notice thereof. 
 5. Security Interest in Trademark Collateral. Without limitation upon any
Obligations or covenants of Borrowers and Guarantors under the Financing Agreements, at any time that the Supplemental Amount is greater than zero, Borrowers and Guarantors shall not grant to any person nor consent to or otherwise permit or suffer
to exist, any lien, claim, encumbrance or security interest in or with respect to any trade names or trademarks or rights in respect thereof owned by any of them, it being acknowledged that termination by the Senior Note Trustee of its security
interest in the Released Trademarks has not been recorded at the U.S. Patent and Trademark Office as of the date hereof. If either (a) the aggregate principal amount of Loans and Letter of Credit Accommodations outstanding to Borrowers exceeds
the aggregate amount of the Borrowing Bases of Borrowers immediately after the Supplemental Amount shall have been reduced to zero or (b) the definition of Supplemental Amount shall be amended to, directly or indirectly, extend the date by
which the Supplemental Amount shall be reduced to zero, then in either case Borrowers and Guarantors shall promptly grant to Agent a perfected first priority security interest in trademarks and trade names owned by Borrowers and Guarantors having an
appraised value of not less than $50,000,000 as determined by Agent (or an appraiser selected by Agent) and Borrowers and Guarantors shall promptly execute and deliver such documents, instruments and agreements and take all such other actions as
Agent may request in connection therewith, all of which shall be in form and substance satisfactory to Agent. 
 6. Commitments. In
furtherance of the amendment of the Maximum Credit pursuant to this Amendment No. 12, the respective Commitments of the Lenders are hereby amended and restated as set forth on Schedule 1 to Amendment No. 12 which is hereby made a part
hereof. 
 7. Amendment Fee. Borrowers shall pay to Agent, for the account of Lenders (in accordance with the arrangements between
Agent and Lenders), the following fees: (a) an amendment fee on the Amendment No. 12 Effective Date in the amount of $90,000, which shall be fully earned as of the date hereof; (b) a Supplemental Availability fee on the Amendment
No. 12 Effective Date in the amount of $37,500, which shall be fully earned as of the date hereof; (c) an additional fee in the amount of $37,500, earned as of the date hereof and payable on the date which is ninety (90) days after
the first date on which the Supplemental Amount is greater than zero (0), unless on or prior to the date which is ninety (90) days after the first date on which the Supplemental Amount is greater than zero (0), the Supplemental Amount shall
have been permanently reduced to zero (0); and (d) an additional fee in the amount of $75,000, payable on the earlier of (i) at any time prior to the permanent reduction of the Supplemental Amount to zero (0), the first 
  

 6 

 date on which the aggregate Excess Availability of Borrowers shall be less than $25,000,000 or (ii) the first date
an Event of Default occurs prior to or as a result of the permanent reduction of the Supplemental Amount to zero (0). 
 8.
Representations, Warranties and Covenants. Borrowers and Guarantors, jointly and severally, represent, warrant and covenant with and to Agent and Lenders as follows, which representations, warranties and covenants shall survive the execution
and delivery hereof: 
 (a) this Amendment No. 12 and all other documents, agreements and instruments executed by any Borrower or
Guarantor in connection herewith (together with this Amendment No. 12, the “Amendment Documents”) have been duly authorized, executed and delivered by all necessary action on the part of each Borrower and Guarantor which is a party
hereto and, if necessary, their respective stockholders, and are in full force and effect as of the date hereof, and the agreements and obligations of Borrowers and Guarantors contained herein and therein constitute legal, valid and binding
obligations of Borrowers and Guarantors enforceable against them in accordance with their terms except as such enforceability may be limited by (i) bankruptcy, insolvency, reorganization, moratorium or similar laws of general applicability
affecting the enforcement of creditors’ rights and (ii) the application of general principles of equity (regardless of whether such enforceability is considered in a proceeding in equity or at law); 
 (b) none of the Amendment Documents nor the transactions contemplated thereby are in contravention of any applicable law, or the terms of any agreement
to which any Borrower or Guarantor is a party or by which any property of any Borrower or Guarantor is bound; and 
 (c) as of the date
hereof, no Default or Event of Default exists or has occurred and is continuing. 
 9. Conditions Precedent. The terms and provisions
of this Amendment No. 12 shall only be effective upon the satisfaction of each of the following conditions precedent in a manner satisfactory to Agent: 
 (a) Agent shall have received executed counterparts of this Amendment No. 12, duly authorized, executed and delivered by Borrowers, Guarantors and the Lenders; and 
 (b) No Default or Event of Default shall exist or have occurred and be continuing. 
  

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 10. Effect of this Amendment. This Amendment No. 12 and the other Amendment Documents
constitute the entire agreement of the parties with respect to the subject matter hereof and thereof, and supersede all prior oral or written communications, memoranda, proposals, negotiations, discussions, term sheets and commitments with respect
to the subject matter hereof and thereof. Except as expressly provided herein, no other changes or modifications to the Financing Agreements are intended or implied, and in all other respects the Financing Agreements are hereby specifically
ratified, restated and confirmed by all parties hereto as of the effective date hereof. To the extent that any provision of the Loan Agreement or any of the other Financing Agreements are inconsistent with the provisions of this Amendment
No. 12, the provisions of this Amendment No. 12 shall control. 
 11. Further Assurances. Each Borrower and Guarantor shall
execute and deliver such additional documents and take such additional action as may be reasonably requested by Agent to effectuate the provisions and purposes of this Amendment No. 12. 
 12. Governing Law. The rights and obligations hereunder of each of the parties hereto shall be governed by and interpreted and determined in
accordance with the internal laws of the State of Florida (but excluding any principles of conflicts of law or other rule of law that would cause the application of the law of any jurisdiction other than the laws of the State of Florida).

 13. Binding Effect. This Amendment No. 12 shall be binding upon and inure to the benefit of each of the parties hereto and
their respective successors and assigns. 
 14. Counterparts. This Amendment No. 12 may be executed in any number of
counterparts, but all of such counterparts shall together constitute but one and the same agreement. In making proof of this Amendment No. 12, it shall not be necessary to produce or account for more than one counterpart thereof signed by each
of the parties hereto. Delivery of an executed counterpart of this Amendment No. 12 by telecopier or other method of electronic transmission shall have the same force and effect as delivery of an original executed counterpart of this Amendment
No. 12. Any party delivering an executed counterpart of this Amendment No. 12 by telecopier or other method of electronic transmission also shall deliver an original executed counterpart of this Amendment No. 12, but the failure to
deliver an original executed counterpart shall not affect the validity, enforceability, and binding effect of this Amendment No. 12 as to such party or any other party. 
 [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 
  

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 IN WITNESS WHEREOF, the parties hereto have caused this Amendment No. 12 to be duly executed and
delivered by their authorized officers as of the day and year first above written. 
  

			
	 SUPREME INTERNATIONAL, LLC,

	formerly known as Supreme International, Inc.
		
	By:	 	Perry Ellis International, Inc.,
		 	its Managing Member
		
	By:	 	  

		
	Title:	 	  

	
	 JANTZEN, LLC,
 formerly known as Jantzen,
Inc.

		
	By:	 	Perry Ellis International, Inc.,
		 	its Managing Member
		
	By:	 	  

		
	Title:	 	  

	
	 PERRY ELLIS MENSWEAR, LLC,
 formerly known as
Perry Ellis Menswear, Inc.

		
	By:	 	Perry Ellis International, Inc.,
		 	its Managing Member
		
	By:	 	  

		
	Title:	 	  

	
	 SALANT HOLDING, LLC,
 formerly known as
Salant Holding Corporation

		
	By:	 	Perry Ellis International, Inc.,
		 	its Managing Member
		
	By:	 	  

		
	Title:	 	  

 [SIGNATURES CONTINUE ON FOLLOWING PAGE] 

 [SIGNATURES CONTINUED FROM PRECEDING PAGE] 
  

			
	 PERRY ELLIS EUROPE LIMITED, formerly
 known
as Farah Manufacturing (U.K.) Limited

		
	By:	 	  

		
	Title:	 	  

	
	Present when the Common Seal of
	 PERRY ELLIS INTERNATIONAL GROUP
 HOLDINGS
LIMITED hereunto offered

		
	By:	 	  

		
	Title:	 	  

	
	PERRY ELLIS INTERNATIONAL, INC.
	PEI LICENSING, INC.
		
	By:	 	  

		
	Title:	 	  

	
	SUPREME MUNSINGWEAR CANADA, INC.
		
	By:	 	  

		
	Title:	 	  

 [SIGNATURES CONTINUE ON FOLLOWING PAGE] 

 [SIGNATURES CONTINUED FROM PRECEDING PAGE] 
  

			
	JANTZEN APPAREL, LLC,
	formerly known as Jantzen Apparel Corp.
		
	By:	 	PEI Licensing, Inc.,
		 	its Managing Member
		
	By:	 	  

		
	Title:	 	  

	
	SUPREME REAL ESTATE I, LLC
		
	By:	 	  

		
	Title:	 	  

	
	SUPREME REAL ESTATE II, LLC
		
	By:	 	  

		
	Title:	 	  

	
	SUPREME REALTY, LLC
		
	By:	 	  

		
	Title:	 	  

 [SIGNATURES CONTINUE ON FOLLOWING PAGE] 

 [SIGNATURES CONTINUED FROM PRECEDING PAGE] 
  

			
	PERRY ELLIS SHARED SERVICES CORPORATION
		
	By:	 	  

		
	Title:	 	  

	
	WINNSBORO DC, LLC
		
	By:	 	Perry Ellis International, Inc.,
		 	its Managing Member
		
	By:	 	  

		
	Title:	 	  

	
	TAMPA DC, LLC
		
	By:	 	Perry Ellis International, Inc.,
		 	its Managing Member
		
	By:	 	  

		
	Title:	 	  

	
	 PERRY ELLIS REAL ESTATE, LLC,
 formerly known
as Perry Ellis Real Estate
 Corporation

		
	By:	 	Perry Ellis International, Inc.,
		 	its Managing Member
		
	By:	 	  

		
	Title:	 	  

 [SIGNATURES CONTINUE ON FOLLOWING PAGE] 

 [SIGNATURES CONTINUED FROM PRECEDING PAGE] 
 AGREED: 
  

			
	WACHOVIA BANK, NATIONAL ASSOCIATION,
	 successor by merger to Congress Financial Corporation (Florida),
 as Agent and a Lender

		
	By:	 	  

		
	Title:	 	  

	
	THE CIT GROUP/COMMERCIAL SERVICES, INC.
		
	By:	 	  

		
	Title:	 	  

	
	THE ISRAEL DISCOUNT BANK OF NEW YORK
		
	By:	 	  

		
	Title:	 	  

 [SIGNATURES CONTINUE ON FOLLOWING PAGE] 

 [SIGNATURES CONTINUED FROM PRECEDING PAGE] 
  

			
	HSBC BANK USA, NATIONAL ASSOCIATION
		
	By:	 	  

		
	Title:	 	  

	
	HSBC BUSINESS CREDIT (USA) INC.
		
	By:	 	  

		
	Title:	 	  

	
	BURDALE FINANCIAL LIMITED
		
	By:	 	  

		
	Title:	 	  

  

 SCHEDULE 1 
 TO 
 AMENDMENT NO. 12 TO LOAN AND SECURITY AGREEMENT 
 Commitments 
  

				
	 Lender
	  	Commitment
	 Wachovia Bank, National Association
	  	$	69,500,000
	 The CIT Group/Commercial Services, Inc.
	  	$	57,700,000
	 HSBC Business Credit (USA) Inc.
	  	$	18,000,000
	 HSBC Bank USA, National Association
	  	$	18,000,000
	 The Israel Discount Bank of New York
	  	$	26,400,000
	 Burdale Financial Limited
	  	$	20,400,000
		  	 	 
	 TOTAL
	  	$	210,000,000Agreement with Parlux Fragrances, Inc.

 Exhibit 10.87 
 AGREEMENT 
 This Agreement (the “Agreement”) is made and entered into as of
December 6, 2006, by and between Perry Ellis International, Inc., a Florida corporation, for itself and its designee, (the “Buyer”) and Parlux Fragrances, Inc., a Delaware corporation (the “Seller” and together
with Buyer, the “Parties”). 
 RECITALS 
  

	A.	On March 14, 1983, Buyer entered into that certain license agreement (as amended, the “License Agreement”) with Parfums Stern-PE, Inc., pursuant to which Buyer
granted to Parfums Stern-PE, Inc. the sole and exclusive license and authorization during the term of the License Agreement to use the Licensed Marks in the Territory upon, and in connection with and/or in relation to Licensed Products made by or
for Licensee, including without limitation, the right to the sole and exclusive manufacture and distribution of Licensed Products in the Territory. 

  

	B.	Seller is the successor-in-interest to Sanofi Beaute, Inc., which was the successor-in-interest to Parfums Stern-PE, Inc., under the License Agreement, and accordingly, Seller now
has the sole and exclusive license and authorization during the term of the License Agreement to use the Licensed Marks in the Territory upon, and in connection with and/or in relation to Licensed Products made by or for Licensee, including without
limitation, the right to the sole and exclusive manufacture and distribution of Licensed Products in the Territory. 

  

	C.	Seller wishes to relinquish all Seller’s rights, title and interest to and under the License Agreement, relating to and in connection with Licensed Product, and assign and
transfer to Buyer all inventory of Licensed Products held by Seller, and Buyer wishes to acquire such rights, title and interest on the terms and conditions specified in detail below. 

  

	D.	Capitalized terms used herein but not defined shall have the meaning ascribed to such terms in the License Agreement. 

 NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is
hereby acknowledged, the Parties agree as follows: 
 1. Sale and Purchase of Assets. Upon execution of this Agreement, Seller shall
sell, assign, transfer, convey and deliver to Buyer, or cause to be sold, assigned, transferred, conveyed and delivered to Buyer, and Buyer shall purchase, acquire and accept from Seller all of Seller’s right, title and interest in (i) all
non-fulfilled sales orders relating to, or in connection with, Licensed Product (the “Sales Orders”), (ii) all non-fulfilled purchase orders relating to, or in connection with, Licensed Product (the “Purchase
Orders”) (iii) all inventory and promotional supplies of Licensed Products ( the “Inventory”) , (iv) all formula rights, patents, domain names and molds relating to, or used in connection with, Licensed Product
(the “Intangibles”), (v) all Seller’s archives, artwork, promotional supplies, and development and design work relating to, or in connection with Licensed Product (the “Designs”), and (vi) the
Licensed Marks (all rights, title and interest in (i) Sales Orders, (ii) Purchase Orders, (iii) all Inventory of Licensed Products, (iv) Intangibles, (v) the Designs, (vi) and the Licensed Marks are hereinafter
collectively referred to as the “Assets”). 
 2. Initial Payment. In consideration for the Assets, simultaneously
with the execution of this Agreement, Buyer shall pay, in immediately available funds, (i) $42 million to Seller to an account designated by Seller, for Assets other than the Assets consisting of the Inventory of Licensed Products, and
(ii) $18 million to Seller to an account designated by Seller as partial payment for Inventory of Licensed Products; [provided, however, in the event that all liens on the Assets, including those liens in favor of GMAC (as defined below) have
not been released and those certain collateral access agreements between Seller and, each of, GMAC, Gredel Properties, LLC and Port 95-2, Ltd. have not been received on the Effective Date, such $18 million payment shall not be payable until Buyer
receives satisfactory evidence that all such liens have been released and the collateral access agreements have been executed and delivered to the satisfaction of Buyer]. The Parties shall execute and deliver, on the date hereof, a bill of sale and
such other documents reasonably requested in connection with the sale of the Inventory of Licensed Products to Buyer. Any remaining amounts will be paid as set forth in Paragraph 4 (c) and (d) of this Agreement. There will be no royalties
due or payable by Seller to Buyer in connection with the sales of Assets to Buyer. 
  

 - 2 - 

 3. Termination of Rights under the License Agreement. Pursuant to Section 17(a) of the
License Agreement, the Parties mutually agree that all rights of Seller under the License Agreement are hereby terminated effective immediately upon execution of this Agreement and receipt by Seller of the monies referred to in Paragraph 2
(i) and (ii) of this Agreement. From and after the date hereof (the “Effective Date”), other than continuing as Buyer’s agent for the manufacture, sale and distribution of the Inventory of Licensed Products as set
forth in Paragraph 4 of this Agreement, Seller shall have no further use of, or any other rights to, Licensed Products or the Licensed Marks or any mark confusingly similar thereto and shall immediately cease and terminate any such use and take all
such actions as are necessary or appropriate to terminate any and all of such rights. 
 4. Delivery of Inventory and Agency.

 (a) At the conclusion of business on December 5, 2006, Seller shall close its books with regard to the Inventory of Licensed Products
and shall not sell or dispose of Licensed Products other than as set forth herein. On the Effective Date, Seller shall provide Buyer a report that includes and details, as of the Effective Date, (i) the Inventory, (ii) Sales Orders and
(iii) Purchase Orders, all of which relate to Licensed Products. Buyer and Seller acknowledge and agree that, from the Effective Date, (i) Buyer shall be entitled to receive all proceeds from, and relating to, the sales of Licensed
Products sold or disposed of by Seller (ii) all Inventory of Licensed Product is owned solely and exclusively by Buyer, any and all sales of the Inventory of Licensed Product are made directly by Buyer to the buyers of such Inventory and title
to such Inventory never passes to Seller, (iii) Buyer shall be vested with good and marketable title to the Assets free and clear of any encumbrances, claims and indebtedness, except for the lien of GMAC, Commercial Credit LLC (“GMACCC
LIEN”), which shall be released on the Effective Date as set forth in that Letter Agreement (the “GMACCC LETTER”) dated on or about the date hereof, among Seller, Buyer and GMACCC (Exhibit J), and (iv) neither title to the

  

 - 3 - 

 
Assets nor any other interest therein shall vest in or revert to Seller at any time, or for any reason, whatsoever. Within fifteen (15) days of the
Effective Date, Seller shall deliver all Designs to Buyer. Buyer shall give Seller at least five (5) business days advance written notice of the date selected as the Inventory Transfer Date. 
 (b) From the Effective Date through a date to be determined by Buyer, which date shall be no later than December 31, 2006 (the “Inventory
Transfer Date” and such period, the “Transition Period”), Seller shall act as Buyer’s agent for the manufacturing, receipt, packaging, shipping and order processing for Licensed Products, and in such capacity as agent,
continue to manage and dispose of stock and the Inventory on normal business terms consistent with past practice until the Inventory Transfer Date. Seller shall send invoices to buyers of the Inventory of Licensed Products in the name of Buyer and
such invoices shall (i) only bill for and include Licensed Product and (ii) instruct that all payments for such Licensed Product be paid directly to the account of Buyer at Supreme International, P.O. Box 277017, Atlanta, GA 303840-7017.
During the Transition Period, Seller shall consult with Buyer regarding and in connection with (i) all sales of Licensed Products and shall obtain prior approval from Buyer before fulfilling any orders for Licensed Products not included in the
Sales Orders in effect on the Effective Date, and (ii) the manufacturing of Licensed Products and shall obtain prior approval from Buyer before placing any orders relating to the manufacture of Licensed Products. In addition, Seller
shall prepare and deliver to Buyer daily reports regarding the Inventory, purchase orders, sales orders, packaging, sales and shipping, and such other information reasonably requested by Buyer, in connection with Licensed Product. During the
Transition Period, Seller shall (i) permit Buyer to have access to all locations where the Inventory of Licensed Products resides for any reason deemed necessary by Buyer including, but not limited to, to conduct a physical audit of the
Inventory, (ii) facilitate Buyer’s access to all third parties that hold the Inventory and (iii) assist in transitioning inventory from suppliers, distributors and fragrance houses to Buyer. For the avoidance of doubt, during the
Transition Period, Seller shall not have the right to 

  

 - 4 - 

 
dispose of any stock or inventory of Licensed Products to any person other than in its agency capacity as set forth above and Buyer does not consign such
stock or inventory to Seller for any period, or for any purpose, whatsoever. 
 (c) On the Inventory Transfer Date, Seller shall
(a) perform a physical count of the Inventory of Licensed Products at all locations where the value of such Licensed Products exceeds $50,000; provided, however, if the total cumulative value of such Inventory of Licensed Products at locations
where a physical count is not performed exceeds $300,000 then the Seller shall perform a physical count of the Inventory of Licensed Products at all locations where the value of such Licensed Products exceeds $10,000 and (b) provide Buyer with
a final report (the “Inventory Report”) setting forth (i) the physical count of finished Licensed Products as of the Effective Date, including Licensed Products at those locations where physical counts were not performed,
(ii) finished product in transit as of the Effective Date, (iii) finished Licensed Products sold during the Transition Period, (iv) all finished Licensed Products received by Seller during the Transition Period, (v) physical
count of raw materials and components in production or in transit with respect to Licensed Product as of the Effective Date, (vi) raw materials and components in production or in transit with respect to Licensed Product that are utilized during
the Transition Period, and (vii) raw materials and components in production or in transit with respect to Licensed Product received by Seller during the Transition Period. After the delivery of the Inventory Report and on the Inventory Transfer
Date, Seller shall, unless otherwise directed by Buyer, deliver to Buyer at Buyer’s sole expense using a trucking company designated by Buyer, at a location designated by Buyer, all inventory of Licensed Products (the “Inventory
Transfer”). Buyer shall have the authority and right to physically audit the inventory of Licensed Product prior to the authorization of the Inventory Transfer. Within thirty (30) days of the Inventory Transfer, the following amounts
shall be paid: (i) $3 million in the event the Inventory True-Up Price defined below is $21 million or greater, less any final royalty payment due Buyer from Seller for the period of October 1, 2006 through the Effective Date, or
(ii) in the event the Inventory True-Up Price is between $18 and $21 million, an amount calculated as the Inventory True-Up Price of the Inventory less $18 million, less any final royalty payment due 

  

 - 5 - 

 
Buyer from Seller for the period of October 1, 2006 through the Effective Date; provided, however, to the extent that the Inventory True-Up Price is
less than $18 million, Seller shall pay in immediately available funds, an amount calculated as $18 million less the Inventory True-Up Price. 
 (d) No later than the twentieth (20th) day following the Inventory Transfer Date (the
“Inventory Review Date”), Buyer shall prepare and deliver to Seller a report (the “Inventory True-up Report”) setting forth Buyer’s calculation of the dollar value of all raw materials and components in
production or in transit with respect to Licensed Product and the Inventory (the “Inventory True-Up Price”). The calculation shall include for the benefit of Buyer a reduction for damaged merchandise which shall be separately
itemized. If the Inventory True-up Report reflects that any amount is owed Seller pursuant to 4(c) above, Buyer shall within 10 days pay such amount to Seller. Seller shall have three (3) business days to dispute any amounts on the Inventory
True-up Report; provided, however, that Seller shall notify Buyer of the amount in dispute, and provide an explanation of why the amount is in dispute. In the event of such a dispute, the Parties shall attempt to reconcile their differences within
five (5) business days of Buyer’s receipt of notification of dispute, and any resolution by them as to any disputed amounts shall be final and binding on the Parties. 
 5. Transition of License Agreement. Seller shall cooperate with Buyer in transitioning, to Buyer or its designee, (i) Licensed Products,
(ii) the Licensed Marks, (iii) the Intangibles, and (iv) the distributor agreements, written and oral, listed on Exhibit A hereof. Without limiting the foregoing, Seller shall (i) provide all financial information relating to the
License Agreement and Licensed Products, (ii) within 60 days of the Effective Date, assist Buyer to the extent possible, in order that Buyer may at it sole cost, obtain audited financials statements with regard to Buyer’s portion of
Seller’s business as of and for the three years ended March 31, 2004, 2005 and 2006, and as of and for the 6 months ended September 30, 2006, (iii) assist Buyer in obtaining from third parties information relating to Licensed
Products, the License Agreement and Intangibles, including facilitating and obtaining such 

  

 - 6 - 

 
information from distributors, buyers and fragrance houses, (iv) respond to reasonable inquiries and requests for information regarding the manufacture,
production and distribution of Licensed Products, and (v) together with Buyer, notify all manufacturers, vendors, suppliers, and distributors listed on Exhibits A and B hereof of Buyer’s acquisition of all rights, title and interest in the
Assets. 
 6. Indemnification. 
 (a) Seller’s Indemnity. Seller shall be financially responsible for and shall defend, indemnify and hold Buyer harmless from the following claims (the “Seller’s Indemnifiable Claims”): (i) all returned
Licensed Products received by Seller prior to March 31, 2007 which were sold and delivered by Seller prior to the Effective Date, (ii) chargeback claims and related administrative service fees for Licensed Products sold by Seller prior to
the Effective Date, (iii) customer, supplier, vendor and manufacturer claims that arose prior to the Effective Date and received no later than one (1) year from the Effective Date, (iv) claims received within one (1) year of the
Effective Date for indemnification under Section 14 of the License Agreement arising out of alleged defects in Licensed Products sold by Seller or its distributors, (v) claims by third parties relating to the execution of this Agreement
and the transactions contemplated hereby, and (vi) claims and liabilities arising from Seller’s actions prior to the Effective Date under or in respect of the Assigned Agreements defined below regardless of when such claims and liabilities
accrue. Buyer shall afford Seller the opportuntity to defend at Seller’s cost, all such claims, with counsel reasonably acceptable to Buyer, and will not settle or conmprise any such claims without Seller’s prior written consent, which
consent will not be unreasonably withheld. Seller shall pay all Seller’s Indemnifiable Claims promptly upon the receipt of a written invoice for the same and shall pay all costs and expenses, including, without limitation, reasonable
attorney’s fees, arising from or related to the defense of any Seller’s Indemnifiable Claim. 
 (b) Buyer’s Indemnity.
Buyer shall be financially responsible for and shall defend, indemnify and hold Seller harmless from the following claims (“Buyers Indemnifiable Claims”): (i) claims relating to Seller’s actions as Buyer’s agent
during the Transition Period; provided, however, Seller shall not be indemnified for claims resulting from (a) Seller’s actions that are not specifically 

  

 - 7 - 

 
permitted under the terms of this Agreement or taken at the direction of an authorized officer of Buyer, and (b) claims arising from Sellers gross
negligence, willful misconduct or bad faith; (ii) any claims relating to defects in Licensed Products arising after the Effective Date, and (iii) any claims relating to the infringement of the Licensed Marks arising from Seller’s
authorized use of the Licensed Marks pursuant to the License Agreements. 
 7. Agreements. Upon execution of this Agreement, Buyer
shall assume only those written and oral agreements listed on Exhibit C hereof that are used by Seller in connection with the manufacture, storage, distribution, design and development of Licensed Products (the “Assigned
Agreements”), and agrees to pay, perform and discharge all liabilities accruing after the Effective Date and shall defend, indemnify and hold Seller harmless in regard to such liabilities which arise after the Effective Date. The Parties
acknowledge that the Seller shall not assign and Buyer shall not assume Seller’s trade payables and receivable in existence as of the Effective Date relating to the Licensed Products and Inventory unless specifically identified on Exhibit C.
Seller shall use its best efforts to assign the Assigned Agreements to Buyer. For the avoidance of doubt, other than the agreements specifically listed on Exhibit C hereof, Buyer shall not and does not assume, agree to pay, perform or discharge or
otherwise have any responsibility for or any liability arising from, under or relating to any agreement, written or oral, used by Seller in connection with the manufacture, storage, distribution, design and development of Licensed Products.

 8. Formulas, Patents, Domain Names and Molds. Upon execution of this Agreement, Seller shall assign to Buyer all Intangibles listed
on Exhibit D hereof and shall take all steps necessary to facilitate the assignment of the Intangibles, including obtaining any necessary third party approvals, consents or assignments. 
 9. Future Sale of Assets. In the event Buyer, within six (6) months of the Effective Date, sells any or all of the Assets, other than the
Inventory of Licensed Products, to a non-affiliate entity for consideration in excess of $42 million (the “Excess Consideration”), Buyer shall pay to Seller 50% of such Excess Consideration said payment to be paid within fifteen
(15) days of the closing of such 

  

 - 8 - 

 
transaction. For the avoidance of doubt, for the purposes of this Paragraph 9, a sale of any or all of the Assets shall not include the license of the
Licensed Marks by Buyer. 
 10. Mutual Release. Simultaneous with the execution of this Agreement, the parties shall execute mutual
general release in the form annexed hereto as Exhibit I which shall become effective on the Effective Date. Said releases shall release any and all claims, counterclaims, remedies, causes of action, defenses, liens, judgments and interests of any
kind or nature whatsoever, including attorneys’ fees and costs, whether known or unknown, asserted or yet to be asserted, arising out of or related to the License Agreement against the Parties, their officers, directors, employees, agents,
affiliates; provided, however, the release shall not affect any claim by one party against the other (i) arising from, under or relating to this Agreement (including indemnification for any costs or losses incurred in connection with any
litigation or claims arising from or relating to this Agreement), and (ii) under Section 14 of the License Agreement arising out of alleged defects in Licensed Products sold by Seller or its distributors. The mutual release shall not
release Seller from claims arising under the License Agreement for any final royalty payment due Buyer from Seller for the period October 1, 2006 through the Effective Date. 
 11. Representations and Warranties. Each of the Parties represents, covenants, warrants and agrees that, as of the Effective Date, (i) it has
all requisite corporate, partnership, or limited liability company power and authority to enter into this Agreement and to carry out the transactions contemplated hereby, and to perform its obligations hereunder (ii) it is duly organized,
validly existing and in good standing under the laws of its state of organization and it has the requisite power and authority to execute and deliver this Agreement and to perform its obligations hereunder, and (iii) the execution and delivery
of this Agreement and the performance of its obligations hereunder have been duly authorized by all necessary corporate, partnership or limited liability company action on its part and each party shall deliver to the other simultaneous with the
execution of this Agreement, written confirmation of such authority, 

  

 - 9 - 

 
Seller represents, covenants and warrants that, to the best of its knowledge and belief, as of the Effective Date, (i) Exhibit B hereof lists all
written and oral agreements to which Seller is a party in connection with the manufacture, storage, distribution, design and development of Licensed Products, (ii) Exhibit A hereof lists all distributor agreements, oral and written,
(iii) Exhibit D hereof lists all Intangibles held or used by Seller or any third party relating to, or in connection with, Licensed Products and all such Intangibles shall be assigned to Buyer, (iv) other than as set forth on Exhibit E
hereof, Seller has not assigned, transferred or subleased any of its rights, title and interest to and under the License Agreement to any third party, (v) Exhibit F hereof lists all fragrance houses, liner suppliers, label suppliers, bottle
suppliers, pump suppliers, canister suppliers, packaging companies and shipping companies, and all other companies, used by Seller in connection with the manufacture and distribution of Licensed Products, (v) Exhibit G hereof sets forth any and
all indebtedness owed, by Seller, to any third party relating to, or in connection with, Licensed Product except for payables incurred in the ordinary course of business, (vi) Exhibit H hereof is a true and correct copy of the legal opinion
provided to Seller and being relied upon by Buyer and Seller opining that Seller does not need shareholder approval to execute this Agreement, (vii) all Licensed Product received by Buyer pursuant to the Inventory Transfer shall have a shelf
life of at least three (3) years from the Inventory Transfer Date as long as such items are stored in a manner similar to those used by Seller, (vii) all Assets are transferred to Buyer with good and marketable title, unencumbered, and
free and clear of any and all liens except for the GMACCC Lien which shall to be released as set forth in the GMACCC Letter. 
 12. Legal
Proceedings. Notwithstanding Section 23 of the License Agreement, any dispute arising out of, in connection with, or relating to the implementation of this Agreement or the License Agreement shall not be submitted to arbitration. Each Party
irrevocably consents to the jurisdiction of the courts of the State of Florida and of the United States District Court for the Southern District of Florida in any action arising out of, in connection with, or relating to the implementation of this
Agreement or the License Agreement. 
  

 - 10 - 

 13. Miscellaneous. This Agreement represents the entire agreement between the Parties with respect
to the matters addressed herein and supersedes all prior negotiations, representations, or agreements between the Parties, whether oral or written, on the subject hereof. This Agreement shall be binding on all successors, administrators, executors,
representatives and assigns of each of the Parties. This Agreement may not be amended, modified, altered or rescinded except upon a written instrument designated as an amendment to this Agreement and executed by the Parties. 
 14. Counterparts. This Agreement may be executed in any number of counterparts, each of which shall, collectively and separately, constitute one
and the same agreement. 
 15. Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the
State of Florida without giving effect to its principles or rules of conflict of laws to the extent such principles or rules would require or permit the application of laws of another jurisdiction. 
 16. Specific Performance. The Parties recognize and affirm that in the event of breach by either Party of any of the provisions of this Agreement,
money damages would be inadequate and no adequate remedy at law would exist. Accordingly, the Parties agree that each Party shall have the right, in addition to any other rights and remedies existing in its favor, to enforce its rights and the
obligations of the other Party under this Agreement not only by an action or actions for damages, but also by an action or actions for specific performance, injunction and/or other equitable relief in order to enforce or prevent any violations of
the provisions of this Agreement. 
 17. Further Assurances. At and after the Effective Date, from time to time, at Buyer’s
request, Seller shall execute and deliver such other instruments and take such other actions as Buyer may reasonably request to more effectively put Buyer in possession and control of all or any part of the Assets. Seller shall cooperate with Buyer
to deliver such bills of sale, endorsements, assignments and other good and sufficient instruments of conveyance and transfer (including assignments of any intellectual property in recordable form), in form and substance reasonably satisfactory to
Buyer and its counsel, as are commercially reasonable under the circumstances, to vest in Buyer good and valid title to the Assets free and clear of any encumbrances. 
  

 - 11 - 

 18. No Third Party Beneficiaries. This Agreement shall not confer any rights or remedies upon any
person other than the Parties hereto and their respective successors and permitted assigns. Notwithstanding the foregoing sentence or any other provision of this Agreement to the contrary, Seller hereby authorizes and consents to Buyer and any
assignee of its rights hereunder, collaterally assigning to any working capital lender of Buyer or any of its affiliates, all right, title and interest in connection with the inventory of Licensed Products or with respect to this Agreement or any of
the other agreements, documents, and instruments executed and/or delivered in connection herewith, and agrees to execute and deliver in favor of such working capital lender such acknowledgement and consent to Collateral Assignment of Acquisition
Agreements as such working capital lender may require. 
 19. Assign; Buyer Designee. Buyer shall have the right to assign any and all
of its rights under this Agreement to one or more of its subsidiaries or affiliates. Buyer may appoint a subsidiary or affiliate, as its designee, to perform any obligations of Buyer hereunder and to receive the benefit of the performance by Seller
of any of its obligations hereunder. Seller shall not have the right to assign its rights under this Agreement. 
 20. Notices. All
notices, requests, demands, claims, and other communications hereunder will be in writing. Any notice, request, demand, claim, or other communication hereunder shall be deemed duly given if (and then two business days after) it is sent by registered
or certified mail, return receipt requested, postage prepaid, and addressed to the intended recipient as set forth below: 
  

			
		 	If to Seller:
		
		 	Parlux Fragrances, Inc.
		 	3725 S.W. 30th Avenue
		 	Fort Lauderdale, Florida 33312
		 	Attn: Frank A. Buttacavoli

  

 - 12 - 

					
		 	 Copy: Mitchell R. Schrage, Esq.
 Kasowitz,
Benson, Torres & Friedman
 1633 Broadway
 New York, NY
10022

		
		 	If to Buyer:
		
		 	Perry Ellis International, Inc.
		 	3000 N.W. 107th Avenue
		 	Miami, Florida 33172
		 	Attn:	 	George Feldenkreis
		 		 	Cory Shade, Esq.

 Either Party may also send any notice, request, demand, claim, or other communication hereunder to the intended
recipient at the address set forth above using any other means (including personal delivery, expedited courier, messenger service, telecopy, telex, ordinary mail, or electronic mail), but no such notice, request, demand, claim, or other
communication shall be deemed to have been duly given unless and until it actually is received by the intended recipient. Either Party may change the address to which notices, requests, demands, claims, and other communications hereunder are to be
delivered by giving the other parties hereto notice in the manner herein set forth. 
 21. Brokerages Fees; Certain Expenses.

 (a) Brokerage Fees. The Parties agree that the only business broker/finder with which either has dealt in regard to the subject
tranaction is GLMAC and Lucien Lallouz (collectively, the “Broker”) and Seller shall compensate such entity pursuant to a separate written agreeement. 
 Seller agrees to indemnify and to hold Buyer harmless from, any claim or liability for any fee, commission, compensation or other payment by any broker, finder or similar agent who claims to have been, or who was in
fact, engaged by or on behalf of Seller in connection with the transactions contemplated by this Agreement. Buyer agrees to indemnify and to hold Seller harmless from, any claim or liability for any fee, commission, compensation or other payment by
any broker, finder or similar agent, other than Broker, who claims to have been, or who was in fact, engaged by or on behalf of Buyer in connection with the transactions contemplated by this Agreement. 
  

 - 13 - 

 (b) Certain Expenses. Except as otherwise provided in this Agreement and regardless of whether the
transactions contemplated by this Agreement are consummated, each Party agrees to pay all expenses, fees and costs (including, without limitation, legal, accounting and consulting expenses) incurred by it in connection with the transactions
contemplated hereby. 
 [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 
  

 - 14 - 

 IN WITNESS WHEREOF, the Parties have executed this Agreement as of the date first written above.

  

			
	PARLUX FRAGRANCES, INC.
	
	  

	By:	 	Frank A. Buttacavoli
	Its:	 	Executive V.P./COO/CFO
	
	PERRY ELLIS INTERNATIONAL, INC.
	
	  

	By:	 	George Feldenkreis
	Its:	 	Chief Executive Officer

  

 - 15 - 

 EXHIBIT A 
 LIST OF DISTRIBUTOR AGREEMENTS 
 See Exhibit A attached hereto 
  

 - 16 - 

 EXHIBIT B 
 ORAL AND WRITTEN AGREEMENTS WITH MANUFACTURERS, VENDORS, AND SUPPLIERS 
 No oral or written agreements
other than those included under Exhibit C 
  

 - 17 - 

 EXHIBIT C 
 ASSIGNED AGREEMENTS 
 See Exhibit C attached hereto 
  

 - 18 - 

 EXHIBIT D 
 LIST OF ALL FORMULAS, PATENTS, DOMAIN NAMES OR MOLDS 
 See Exhibit D attached hereto 
  

 - 19 - 

 EXHIBIT E 
 ASSIGNED, TRANSFERRED OR SUBLEASED RIGHTS, TITLE AND INTEREST 
 Seller has not assigned, transferred or subleased any
of its rights, title and interest to and under the License Agreement to any third party. 
  

 - 20 - 

 EXHIBIT F 
 LIST OF ALL FRAGRANCE HOUSES, SUPPLIERS, MANUFACTURERS, PACKAGERS AND SHIPPERS 
 See Exhibit F
attached hereto 
  

 - 21 - 

 EXHIBIT G 
 ANY AND ALL INDEBTEDNESS 
 None except for GMACCC Lien which will be release as of the Effective Date.

  

 - 22 - 

 EXHIBIT H 
 LEGAL OPINION 
 See Exhibit H attached hereto 
  

 - 23 - 

 EXHIBIT I 
 MUTUAL GENERAL RELEASES 
 See Exhibit I attached hereto 
  

 - 24 - 

 EXHIBIT J 
 GMACCC LETTER 
 See Exhibit J attached hereto 
  

 - 25 -

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