Document:

Exhibit
4.2

ENDURANCE SPECIALTY HOLDINGS LTD.
 EMPLOYEE SHARE
PURCHASE PLAN

1.    Purpose.    The Endurance Specialty
Holdings Ltd. Employee Share Purchase Plan (the
"Plan") is established for the benefit of
employees of Endurance Specialty Holdings Ltd. (the
"Company") and its Designated Subsidiaries
(as defined below). The Plan is intended to provide the employees of
the Company and its Designated Subsidiaries with an opportunity to
purchase the Company's ordinary shares, par value U.S.$1.00 (the
"Shares"). It is the intention of the Company
that the Plan qualify as an "employee stock purchase
plan" within the meaning of Section 423 of the Internal
Revenue Code of 1986, as amended (the
"Code"), and the Plan shall be construed in a
manner consistent with the requirements of such Section of the
Code.

2.    Definitions.

a.    "Administrator" shall mean any
administrator to whom some or all of the duties and responsibilities of
the Committee hereunder have been delegated in accordance with Section
12 hereof.

b.    "Board" shall mean
the Board of Directors of the Company.

c.    "Change in Capitalization" shall
mean any amalgamation, merger, reorganization, consolidation,
recapitalization, liquidation, stock dividend, stock split, reverse
stock split, scheme of arrangement, share combination, or other similar
change in the capital structure of the Company affecting the
Shares.

d.    "Committee" shall mean
the Compensation Committee or any other committee of members of the
Board appointed by the Board to administer the Plan and to perform the
functions of the Committee as set forth herein.

e.    "Continuous Status as an Employee"
shall mean the absence of any interruption or termination of service as
an Employee. Continuous Status as an Employee shall not be considered
interrupted in the case of a leave of absence agreed to in writing by
the Employee's Employer, if such leave is for a continuous period
of not more than six months or if re-employment upon the expiration of
such leave is guaranteed by contract or statute.

f.    "Designated Subsidiaries" shall
mean the Subsidiaries of the Company which have been designated by the
Board from time to time in its sole discretion as eligible to
participate in the Plan, which may include corporations (as such term
is defined by Internal Revenue Regulation 1.421-1) which become
subsidiaries of the Company after the adoption of the Plan.

g.    "Eligible Compensation" shall mean
the gross amount of an Employee's base salary and shall exclude
all other payments, including, without limitation, performance bonuses,
hiring bonuses, cash recognition awards, commissions, overtime pay,
shift premiums, elective contributions by an Employee to qualified
employee benefit plans, long-term disability or workers compensation
payments, perquisite payments, expense reimbursement payments, housing
allowances, tax gross-up payments and non-cash awards.

h.    "Employee" shall mean any person,
including an officer, who as of an Offering Date has been regularly
employed by the Company or a Designated Subsidiary of the Company for
at least five months and whose customary employment is more than 20
hours per week.

i.    "Employer"
shall mean, as to any particular Employee, the company or corporation
which employs such Employee, whether it is the Company or a Designated
Subsidiary of the Company.

j.    "Exchange
Act" shall mean the Securities Exchange Act of 1934, as
amended.

k.    "Exercise Date" shall
mean the Trading Day that occurs on or immediately preceding the last
calendar day of the Purchase Period, except as the Committee may
otherwise provide.

l.    "Fair Market
Value" per Share as of a particular date shall mean (i)
the closing sales price per Share as reported by any established stock
exchange or market system if the Shares are traded on 

such an exchange or market system (and the
largest such exchange or market system if the Shares are traded on more
than one exchange or market system) on such date, or if not so reported
on such date, on the immediately preceding date on which trading
occurred, (ii) in the event the Shares are not so traded on an exchange
or market system, then the mean between the bid and asked prices for
the Shares as quoted on the Nasdaq Stock Market on such date, or if not
so reported on such date, on the immediately preceding date on which
trading occurred, or (iii) in the event the Shares are not so traded or
quoted on such date, the fair market value as determined by the
Committee or the Administrator.

m.    "Offering
Date" shall mean the first Trading Day of each Purchase
Period of the Plan. The Offering Date of a Purchase Period is the grant
date for the options offered in such Purchase Period.

n.    "Participant" shall mean an
Employee who participates in the Plan.

o.    "Purchase Period" shall mean each
time period for offerings to occur established from time to time by the
Committee pursuant to Section 4 hereof. The first Purchase Period under
the Plan, however, shall commence on October 1, 2005 and shall end on
December 31, 2005.

p.    "Subsidiary" shall mean any
company or corporation (other than the Company) in an unbroken chain of
companies or corporations beginning with the Company if, at the time of
granting an option, each of the companies or corporations other than
the last company or corporation in the unbroken chain owns shares
possessing fifty percent (50%) or more of the total combined
voting power of all classes of shares in one of the other companies or
corporations in such chain.

q.    "Trading
Day" shall mean a day (i) on which the largest exchange or
market system upon which the Shares are traded is open for trading,
(ii) in the event the Shares are not so traded on an exchange or market
system, on which the Nasdaq Stock Market is open for trading or (iii)
in the event the Shares are not traded on an exchange or market system
or the Nasdaq Stock Market, excluding Saturday, Sunday and any day
which shall be in the City of New York a legal holiday or a day on
which banking institutions are authorized by law or other governmental
actions to close.

3.    Eligibility.

a.    Subject to
the requirements of Section 3(b) hereof, any person who is an Employee
as of an Offering Date shall be eligible to participate in the Plan and
be granted an option for the Purchase Period commencing on such
Offering Date.

b.    Notwithstanding any provisions of the
Plan to the contrary, no Employee shall be granted an option under the
Plan if, immediately after the grant, (i) such Employee (or any other
person whose shares would be attributed to such Employee pursuant to
Section 424(d) of the Code) would own shares and/or hold outstanding
options to purchase shares possessing five percent (5%) or more
of the total combined voting power or value of all classes of shares of
the Company or of any Subsidiary or Parent of the Company, or (ii) such
Employee's right to purchase shares under all employee stock
purchase plans (as described in Section 423 of the Code) of the Company
and any Subsidiary of the Company would accrue at a rate which exceeds
twenty-five thousand dollars (U.S.$25,000) of Fair Market Value of such
shares (determined at the time such option is granted) for any calendar
year in which such option would be outstanding at any time. Any amounts
received from an Employee which cannot be used to purchase Shares as a
result of this limitation will be returned as soon as possible to the
Employee without interest.

4.    Purchase Periods; Duration of
Plan. The Plan shall be implemented by a series of consecutive Purchase
Periods. The Plan shall continue until terminated in accordance with
Section 19 hereof. Subject to Section 19 hereof, the Committee shall
have the power to change the duration and/or the frequency of Purchase
Periods with respect to future offerings. In no event, however, shall
any option granted hereunder be exercisable more than 24 months from
its date of grant.

5.    Grant of Option; Participation;
Price.

a.    Subject to the prior written consent of the
Bermuda Monetary Authority, on each Offering Date the Company shall
commence an offering by granting each eligible Employee who has elected
to 

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become a Participant an option to purchase
Shares, subject to the limitations set forth in Sections 3.b. and 11
hereof. Each option so granted shall be exercisable for the number of
Shares described in Section 7 hereof and shall be exercisable only on
the Exercise Date.

b.    Each eligible Employee may elect to
become a Participant in the Plan with respect to a Purchase Period by
filing a subscription agreement with his or her Employer authorizing
payroll deductions in accordance with Section 6 hereof and filing it
with the Company or the Employer in accordance with the form's
instructions at least ten business days prior to the applicable
Offering Date, unless a later time for filing the subscription
agreement is set by the Committee for all Employees with respect to a
given offering. Such authorization will remain in effect for subsequent
Purchase Periods, until modified or terminated by the Participant by
giving written notice to his or her Employer prior to the next
occurring Exercise Date.

c.    Unless a higher price is
designated by the Committee, the option price per Share subject to an
offering shall be 85% of the Fair Market Value of a Share on the
Exercise Date.

6.    Payroll Deductions and Cash Payments.

a.    Subject to the provisions hereof, a Participant may, in
accordance with rules and procedures adopted by the Committee,
authorize a payroll deduction of any whole percentage from one percent
to ten percent of such Participant's Eligible Compensation for
each pay period (the permissible range within such percentages to be
determined by the Committee from time to time). A Participant may
increase or decrease such payroll deduction by filing a new
authorization form with his or her Employer at least ten days prior to
the applicable Offering Date, unless a later time for filing such
authorization form is set by the Committee for all Employees with
respect to a given offering. The Committee may, in its discretion,
limit the number of payroll reduction percentage changes by
Participants All payroll deductions made by a Participant shall be
credited to such Participant's bookkeeping account under the Plan
and shall be effective as of the next practicable payroll period
following the date of filing of the new authorization form.

b.    Notwithstanding the foregoing, to the extent necessary to
comply with Section 423(b)(8) of the Code and Section 3(b) hereof, a
Participant's payroll deductions shall be decreased to 0%
at any time during a Purchase Period. Payroll deductions shall
automatically recommence at the rate provided in such
Participant's subscription agreement (prior to the reduction) at
the start of the first Purchase Period commencing in the following
calendar year.

c.    A Participant may withdraw from the Plan
as provided in Section 9, which will terminate his or her payroll
deductions for the Purchase Period in which such withdrawal occurs.

7.    Exercise of Option.

a.    Unless a Participant
withdraws from the Plan as provided in Section 9 hereof, or unless the
Committee otherwise provides, such Participant's election to
purchase Shares shall be exercised automatically on the Exercise Date,
and the maximum number of Shares (including any fractional Share)
subject to such option will be purchased for such Participant at the
applicable option price with the accumulated payroll deductions
credited to the Participant's account under the Plan.

b.    Any cash balance remaining in a Participant's account
after an Exercise Date will be carried forward to the
Participant's account for the purchase of Shares on the next
Exercise Date if the Participant does not elect to cease to participate
in the Plan. A Participant who has elected to cease participation in
the Plan will receive a cash payment equal to the cash balance of his
or her account.

8.    Delivery of Shares; Rights as a
Shareholder; One Year Restriction on Transfer.    Unless otherwise
determined by the Board, as soon as administratively feasible after
each Exercise Date, the Company shall arrange the delivery to such
Participant of a share certificate representing the Shares purchased by
the Participant upon such Exercise Date (or such other alternative
method of delivery as the Committee may determine to be appropriate).
Participants shall be treated as the owners of their Shares effective
as of the Exercise Date. Unless otherwise determined by the Committee,
Shares delivered to a Participant hereunder may not be assigned,
transferred, pledged or otherwise disposed of in any way by the
Participant during the one year period following such delivery to the
Participant 

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(other than by will, the laws of descent and
distribution) and the Shares shall bear a legend denoting such
restrictions as may be determined by the Committee to be
appropriate.

9.    Withdrawal; Termination of Employment.

a.    In conjunction with a Participant's withdrawal from
participation in the Plan, a Participant may withdraw at any time all,
but not less than all, cash amounts in his or her account under the
Plan that have not been used to purchase Shares by giving written
notice to the Company at least 10 days prior to the next occurring
Exercise Date. All such cash amount credited to such
Participant's account shall be paid to such Participant promptly
after receipt of such Participant's notice of withdrawal and such
Participant's option for the Purchase Period in which the
withdrawal occurs shall be automatically terminated. No further payroll
deductions for the purchase of Shares will be made for such Participant
during such Purchase Period.

b.    Upon termination of a
Participant's Continuous Status as an Employee during a Purchase
Period for any reason, whether lawful or unlawful, including voluntary
termination, retirement or death, the cash amounts credited to such
Participant's account that have not been used to purchase Shares
shall be returned to such Participant or, in the case of such
Participant's death, to the person or persons entitled thereto
under Section 13 hereof, and such Participant's option for the
Purchase Period in which the termination occurs will be automatically
terminated. For the purposes of the plan, the Participant's
employment shall be deemed to have terminated on the earlier of the
date upon which his or her employment actually terminates and the date
on which he or she shall have given or received notice of termination
of his or her employment.

c.    Upon a Participant's
withdrawal from a the Plan, such Participant will not be eligible to
participate in succeeding Purchase Periods which commence on or before
the one year anniversary of the date of the Participant's
withdrawal from the Plan. A Participant's withdrawal from the
Plan will not have any effect upon such Participant's eligibility
to participate in any other plan which may hereafter be adopted by the
Company.

10.    Interest.    No interest shall accrue on or
be payable with respect to any cash amount credited to a Participant
under the Plan.

11.    Shares.

a.    Subject to
adjustment as provided in Section 17 hereof, the maximum number of
Shares which shall be reserved for sale under the Plan shall be
200,000. Such Shares shall be authorized and unissued Shares. If the
total number of Shares which would otherwise be purchased pursuant to
options granted hereunder on an Exercise Date exceeds the number of
Shares then available under the Plan (after deduction of all Shares for
which options have been exercised or are then outstanding) or there is
insufficient unissued share capital of the Company, the Committee shall
make a pro rata allocation of the Shares remaining available for option
grant in as uniform a manner as shall be practicable and as it shall
determine to be equitable and in compliance with the provisions of
Section 423 of the Code. In such event, the Committee shall give
written notice to each Participant of such reduction of the number of
option Shares affected thereby and shall similarly reduce the rate of
payroll deductions, if necessary.

b.    Shares to be delivered
to a Participant under the Plan will be registered in the name of the
Participant or, at the election of the Participant, in the name of the
Participant and another person as joint tenants with rights of
survivorship.

12.    Administration.    The Plan shall be
administered by the Committee, and the Committee may select an
Administrator(s) to whom its duties and responsibilities hereunder may
be delegated. The Committee and any Administrator shall have full power
and authority, subject to the provisions of the Plan, to promulgate
such rules and regulations as it deems necessary for the proper
administration of the Plan, to interpret the provisions and supervise
the administration of the Plan, and to take all action in connection
therewith or in relation thereto as it deems necessary or advisable. No
member of the Committee or any Administrator shall be personally liable
for any action, determination, or interpretation made in good faith
with respect to the Plan, and all members of the Committee and any

4

Administrator shall be fully indemnified by
the Company with respect to any such action, determination or
interpretation. All decisions, determinations and interpretations of
the Committee and any Administrator shall be final and binding on all
persons, including the Company, the Participant (or any person claiming
any rights under the Plan from or through any Participant) and any
shareholder. All costs and expenses incurred in administering the Plan
shall be paid by the Company, except that any stamp duties or transfer
taxes applicable to participation in the Plan may be charged to the
account of a Participant by the Company. Any brokerage fees for the
purchase of Shares by a Participant under the Plan shall be paid by the
Company, but brokerage fees for the resale of Shares by a Participant
shall be borne by the Participant.

13.    Designation of
Beneficiary.

a.     A Participant may file with the Company,
on forms supplied by the Company, a written designation of a
beneficiary who is to receive any cash remaining in such
Participant's account under the Plan in the event of the
Participant's death.

b.    Such designation of
beneficiary may be changed by the Participant at any time by written
notice to the Company, on forms supplied by the Company. In the event
of the death of a Participant and in the absence of a beneficiary
validly designated under the Plan who is living at the time of such
Participant's death, the Company shall deliver such cash to the
executor or administrator of the estate of the Participant or, if no
such executor or administrator has been appointed (to the knowledge of
the Company), the Company, in its discretion, may deliver such cash to
the spouse or to any one or more dependents or relatives of the
Participant in accordance with the applicable laws of descent and
distribution, or if no spouse, dependent or relative is known to the
Company, then to such other person as the Company may designate.

14.    Transferability.   Neither cash amounts credited to a
Participant's account nor any rights with regard to the exercise
of an option to receive Shares under the Plan may be assigned,
transferred, pledged or otherwise disposed of in any way by the
Participant (other than by will, the laws of descent and distribution
or as provided in Section 13 hereof). Any such attempt at assignment,
transfer, pledge or other disposition shall be without effect, except
that the Company may treat such act as an election to withdraw funds in
accordance with Section 9 hereof.

15.    Use of
Funds.   All payroll deductions received or held by the Company
under the Plan may be used by the Company for any corporate purpose,
and the Company shall not be obligated to segregate such funds.

16.    Reports.    Individual accounts will be maintained for
each Participant in the Plan. Statements of account will be given to
Participants as soon as practicable following each Purchase Period,
which statements will set forth the amounts of payroll deductions, the
per Share purchase price, the number of Shares purchased and the
remaining cash balance, if any.

17.    Effect of Certain
Changes.   In the event of a Change in Capitalization, the Committee
shall conclusively determine the appropriate equitable adjustments, if
any, to be made under the Plan, including without limitation
adjustments to the number of Shares which have been authorized for
issuance under the Plan but have not yet been placed under option, as
well as the price per Share covered by each option under the Plan which
has not yet been exercised.

18.    Term of Plan.   Subject
to the Board's right to discontinue the Plan (and thereby end its
Term) pursuant to Section 19 hereof, the Term of the Plan (and its last
Purchase Period) shall end on the tenth anniversary of the commencement
of the first Purchase Period. Upon any discontinuance of the Plan,
unless the Committee shall determine otherwise, any assets remaining in
the Participants' accounts under the Plan shall be delivered to
the respective Participant (or the Participant's legal
representative) as soon as practicable.

19.    Amendment to
and Discontinuance of Plan.

a.    The Board may at any time
amend, suspend or discontinue the Plan. Except as provided in Section
17 hereof, no such suspension or discontinuance may adversely affect
options previously granted and no amendment may make any change in any
option theretofore granted which adversely 

5

affects the rights of any Participant which
accrued prior to the date of effectiveness of such amendment without
the consent of such Participant. No amendment shall be effective unless
it receives the requisite approval of the shareholders of the Company
if such shareholder approval of such amendment is required to comply
with Section 423 of the Code or Rule 16b-3 under the Exchange Act or to
comply with any other applicable law, regulation or stock exchange or
national or international quotation system rule.

b.    In the
event the Plan is terminated, the Board may elect to terminate all
outstanding options either immediately or upon completion of the
purchase of Shares on the next Exercise Date, or may elect to permit
options to expire in accordance with their terms (and participation to
continue through such expiration dates). If the options are terminated
prior to expiration, all funds contributed to the Plan that have not
been used to purchase Shares shall be returned to the Participants as
soon as administratively feasible.

c.    In the event of the
sale of all or substantially all of the assets of the Company, or the
merger, amalgamation or consolidation of the Company with or into
another entity, or the entry by the Company into a scheme of
arrangement, or the dissolution or liquidation of the Company, an
Exercise Date shall be deemed to occur on the Trading Day immediately
preceding the date of such event, unless otherwise provided by the
Board in its sole discretion, including the exercise of such discretion
to provide for the assumption or substitution of each option under the
Plan by the successor or surviving corporation, or a parent or
subsidiary thereof.

20.    Notices.    All notices or other
communications by a Participant to the Company under or in connection
with the Plan shall be deemed to have been duly given when received in
the form specified by the Company at the location, or by the person,
designated by the Company for the receipt thereof.

21.    
Regulations and Other Approvals; Governing Law.

a.    This
Plan and the rights of all persons claiming hereunder shall be
construed and determined in accordance with the laws of Bermuda without
giving effect to the choice of law principles thereof.

b.    The obligation of the Company to sell or deliver Shares with
respect to options granted under the Plan shall be subject to all
applicable laws, rules and regulations, including all applicable
federal and state securities laws, and the obtaining of all such
approvals by governmental agencies as may be deemed necessary or
appropriate by the Committee.

22.     Withholding of
Taxes.

(a)   If the Participant makes a disposition, within
the meaning of Section 424(c) of the Code and regulations promulgated
thereunder, of any Share or Shares issued to such Participant pursuant
to such Participant's exercise of an option, and such disposition
occurs within the two-year period commencing on the applicable Offering
Date or within the one-year period commencing on the day after the
applicable Exercise Date, such Participant shall, within ten (10) days
of such disposition, notify the Company thereof and thereafter
immediately deliver to the Company any amount of Federal, state or
local income taxes and other amounts which the Company informs the
Participant the Company is required to withhold.

(b)   If
taxes are owed upon exercise in a Participant's jurisdiction,
such Participant shall be responsible for any taxes, employer's
or employee's social contributions or similar liabilities
chargeable on any assessable income deriving from participation in the
Plan and shall remit such amounts owed to the Company as soon as
practicable so that the Company may then properly remit such amounts to
the proper authorities.

23.    Rights as an
Employee.    Nothing in the Plan shall be construed to give any
person the right to remain in the employ of the Company or any
Subsidiary or affiliate thereof or to affect the Company's or any
Subsidiary's or affiliate's right to terminate the
employment of any person at any time with or without cause.
Participation in the Plan by Participants is a matter entirely separate
from any pension right or term or condition of employment and
participation in the Plan shall in no respect whatever affect in any
way a Participant's pension rights or terms or conditions of
employment and in particular (but without prejudice to the generality
of the foregoing) any Participant who leaves the 

6

employment of the Company or of a Designated
Subsidiary for any reason (whether such termination is lawful or
unlawful) shall not be entitled to any compensation for any loss or
diminution of any right or benefit or prospective right or benefit
under the Plan which he might otherwise have enjoyed whether such
compensation is claimed by way of damages for wrongful dismissal or
other breach of contract or by way of compensation for loss of office
or otherwise.

24.    Effective Date.   The Plan shall be
effective on September 1, 2005, subject to the approval of the Plan by
the shareholders of the Company.

7Exhibit 4.10

                                                                  EXECUTION COPY

                      REVLON CONSUMER PRODUCTS CORPORATION

                          9 1/2% Senior Notes Due 2011

                             REGISTRATION AGREEMENT
                             ----------------------
                                                                 August 16, 2005

CITIGROUP GLOBAL MARKETS INC.

As Representative of the Initial Purchasers

388 Greenwich Street

New York, NY  10013

Dear Sirs:

         Revlon Consumer Products Corporation, a Delaware corporation ("Revlon"
or the "Issuer"), proposes to issue and sell to Citigroup Global Markets Inc. as
representative of certain initial purchasers (the "Initial Purchasers") listed
on Schedule 1 of a purchase agreement dated August 11, 2005 (the "Purchase
Agreement"), upon the terms set forth therein, $80,000,000 aggregate principal
amount of its 9 1/2% Senior Notes due 2011 (the "Notes"). The Issuer previously
issued $310,000,000 aggregate principal amount of 9 1/2% Senior Notes due 2011
pursuant to the Indenture. Capitalized terms used but not specifically defined
herein are defined in the Purchase Agreement. As an inducement to the Initial
Purchasers to enter into the Purchase Agreement and in satisfaction of a
condition to your obligations thereunder, Revlon agrees with you, for the
benefit of the holders of the Notes (including the Initial Purchasers) (the
"Holders"), as follows:

         1. Registered Exchange Offer. Revlon shall, at its cost, prepare and,
not later than 90 days after the Closing Date (or, if the 90th day is not a
business day, the first business day thereafter) (November 14, 2005, assuming
the Closing Date is August 16, 2005), shall file with the Securities and
Exchange Commission (the "Commission") a registration statement (the "Exchange
Offer Registration Statement") on an appropriate form under the Securities Act
of 1933, as amended (the "1933 Act"), with respect to a proposed offer (the
"Registered Exchange Offer") to the Holders to issue and deliver to such
Holders, in exchange for the Notes, a like principal amount of debt securities
(the "Exchange Notes") of Revlon with terms substantially identical in all
material respects to the Notes (except that the Exchange Notes will not contain
terms with respect to transfer restrictions and interest rate increases), shall
use its best efforts to cause the Exchange Offer Registration Statement to
become effective under the 1933 Act by 180 days after the Closing Date (or, if
the 180th day is not a business day, the first business day

                                                                               2

thereafter) (February 13, 2006, assuming the Closing Date is August 16, 2005)
and shall use its best efforts to keep the Exchange Offer Registration Statement
effective under the 1933 Act until the close of business on the 180th day
following the expiration of the Registered Exchange Offer (such period being
called the "Exchange Offer Registration Period") for use by Exchanging Dealers
(as defined below) as contemplated in Section 3(g) below. Revlon shall be deemed
not to have used its best efforts to keep the Exchange Offer Registration
Statement effective during the Exchange Offer Registration Period if it
voluntarily takes any action that would result in Exchanging Dealers not being
able to use such Registration Statement as contemplated in such Section 3(g),
unless (i) such action is required by applicable law or (ii) such action is
taken by Revlon in good faith and for valid business reasons (not including
avoidance of Revlon's obligations hereunder), including, but not limited to, the
acquisition or divestiture of assets, so long as Revlon promptly thereafter
complies with the requirements of Section 3(j) hereof, if applicable. The
Exchange Notes will be issued under the Indenture.

         Upon the effectiveness of the Exchange Offer Registration Statement,
the Issuer shall promptly commence the Registered Exchange Offer, it being the
objective of such Registered Exchange Offer to enable each Holder electing to
exchange Notes for Exchange Notes (assuming that such Holder is not an affiliate
of Revlon within the meaning of the 1933 Act, acquires the Exchange Notes in the
ordinary course of such Holder's business and has no arrangements with any
person to participate in the distribution of the Exchange Notes) to trade such
Exchange Notes from and after their receipt without any limitations or
restrictions under the 1933 Act and without material restrictions under the
securities laws of a substantial proportion of the several states of the United
States. Notwithstanding the foregoing, the Initial Purchasers and Revlon
acknowledge that, pursuant to current interpretations by the Commission's staff
of Section 5 of the 1933 Act, and in the absence of an applicable exemption
therefrom, (i) each Holder (including any Initial Purchaser) which is a
broker-dealer electing to exchange the Notes, acquired for its own account as a
result of market making activities or other trading activities, for the Exchange
Notes (an "Exchanging Dealer"), is required to deliver a prospectus containing
the information set forth in Annex A hereto on the outside back cover page, in
Annex B hereto in "The Exchange Offer" section, and in Annex C hereto in the
"Plan of Distribution" section of such prospectus in connection with a sale of
any such Exchange Notes received by such Exchanging Dealer pursuant to the
Registered Exchange Offer and (ii) each Initial Purchaser which elects to sell
Exchange Notes acquired in exchange for the Notes constituting any portion of an
unsold allotment is required to deliver a prospectus containing the information
required by Items 507 and/or 508 of Regulation S-K under the 1933 Act, as
applicable, in connection with such a sale.

         If, upon consummation of the Registered Exchange Offer, any Initial
Purchaser holds the Notes constituting any portion of an unsold allotment
acquired by it as part of its initial distribution, the Issuer, simultaneously
with the delivery of the Exchange Notes pursuant to the Registered Exchange
Offer, shall issue and deliver to such Initial Purchaser upon the written
request of such Initial Purchaser, in exchange (the "Private Exchange") for the
Notes held by such Initial Purchaser, a like principal amount of the Exchange
Notes issued under the Indenture and identical in all material respects

                                                                               3

(including the existence of restrictions on transfer under the 1933 Act and the
securities laws of the several states of the United States) to the Notes (the
"Private Exchange Notes"; the Notes, the Exchange Notes and the Private Exchange
Notes being hereinafter referred to collectively as the "Securities"). The
Issuer will use reasonable efforts to cause the Private Exchange Notes to bear
the same CUSIP number as the Exchange Notes.

         In connection with the Registered Exchange Offer, the Issuer shall:

         (a) mail to each Holder of record a copy of the prospectus forming part
     of the Exchange Offer Registration Statement, together with an appropriate
     letter of transmittal and related documents;

         (b) keep the Registered Exchange Offer open for not less than 30 days
     after the date notice thereof is mailed to the Holders (or longer if
     required by applicable law);

         (c) utilize the services of a depositary for the Registered Exchange
     Offer with an address in the Borough of Manhattan, The City of New York, or
     St. Paul, Minnesota, which may be the Trustee or an affiliate of the
     Trustee;

         (d) permit Holders to withdraw tendered Notes at any time prior to the
     close of business, New York time, on the last business day on which the
     Registered Exchange Offer shall remain open; and

         (e) otherwise comply in all respects with all applicable laws.

         As soon as practicable after the close of the Registered Exchange Offer
or the Private Exchange, as the case may be, the Issuer shall:

         (a) accept for exchange all Notes validly tendered and not validly
     withdrawn pursuant to the Registered Exchange Offer and the Private
     Exchange;

         (b) deliver to the Trustee for cancellation all Notes so accepted for
     exchange; and

         (c) cause the Trustee promptly to authenticate and deliver to each
     Holder of record of the Notes either Exchange Notes or Private Exchange
     Notes, as the case may be, equal in principal amount to the Notes of such
     Holder so accepted for exchange.

         The Indenture provides that the Exchange Notes will not be subject to
the transfer restrictions applicable to the Notes set forth in the Indenture and
that all Securities issued under the Indenture vote and consent together on all
matters as one class and that none of the Securities issued under the Indenture
have the right to vote or consent as a class separate from one another on any
matter.

                                                                               4

         Notwithstanding any other provisions hereof, the Issuer shall ensure
that (i) any Exchange Offer Registration Statement and any amendment thereto and
any prospectus forming part thereof and any supplement thereto complies in all
material respects with the 1933 Act and the rules and regulations thereunder,
(ii) any Exchange Offer Registration Statement and any amendment thereto does
not, when it becomes effective, contain an untrue statement of a material fact
or omit to state a material fact required to be stated therein or necessary to
make the statements therein not misleading and (iii) any prospectus forming part
of any Exchange Offer Registration Statement, and any supplement to such
prospectus, does not include an untrue statement of a material fact or omit to
state a material fact necessary in order to make the statements, in the light of
the circumstances under which they were made, not misleading.

         Each Holder participating in the Registered Exchange Offer shall be
required to represent to the Issuer that at the time of the consummation of the
Registered Exchange Offer (i) any Exchange Notes received by such Holder will be
acquired in the ordinary course of business, (ii) such Holder will have no
arrangements or understanding with any person to participate in the distribution
of the Notes or the Exchange Notes within the meaning of the 1933 Act, (iii)
such Holder is not an "affiliate", as defined in Rule 405 of the 1933 Act, of
Revlon or, if it is an affiliate, such Holder acknowledges that it must comply
with the registration and prospectus delivery requirements of the 1933 Act to
the extent applicable, (iv) if such Holder is not a broker-dealer, that it is
not engaged in, and does not intend to engage in, a distribution of the Exchange
Notes and (v) if such Holder is a broker-dealer, that it will receive Exchange
Notes for its own account in exchange for the Notes that were acquired as a
result of market-making activities or other trading activities and that it will
be required to acknowledge that it will deliver a prospectus in connection with
any resale of such Exchange Notes.

         2. Shelf Registration. If, (i) because of any change in law or
applicable interpretations thereof by the Commission's staff, the Issuer
determines that it is not permitted to effect the Registered Exchange Offer as
contemplated by Section 1 hereof, (ii) for any other reason the Registered
Exchange Offer is not consummated by the 210th day after the Closing Date (or,
if such day is not a business day, the first business day thereafter) (March 14,
2006, assuming the Closing Date is August 16, 2005), (iii) any Initial Purchaser
so requests with respect to the Notes (or Private Exchange Notes) held by it
following consummation of the Registered Exchange Offer, (iv) any Holder (other
than an Exchanging Dealer) is not eligible to participate in the Registered
Exchange Offer or, in the case of any Holder (other than an Exchanging Dealer)
or Initial Purchaser that participates in the Registered Exchange Offer, such
Holder or Initial Purchaser does not receive freely tradeable Exchange Notes in
exchange for the exchanged Notes (in the case of an Initial Purchaser
constituting any portion of an unsold allotment) (it being understood that the
requirement that an Initial Purchaser deliver a prospectus in connection with
sales of the Exchange Notes acquired in the Registered Exchange Offer in
exchange for the Notes acquired as a result of market-making activities or other
trading activities, shall not result in such Exchange Notes not being "freely
tradeable" for purposes of this Section 2) or (v) if the Issuer so elects, the
following provisions shall apply:

                                                                               5

         (a) The Issuer shall, at its cost, as promptly as practicable file with
the Commission and thereafter shall use its best efforts to cause to be declared
effective a shelf registration statement on an appropriate form under the 1933
Act relating to the offer and sale of the Notes by the Holders or the Exchange
Notes or the Private Exchange Notes by the Initial Purchasers, as applicable,
from time to time in accordance with the methods of distribution elected by such
Holders or the Initial Purchasers, as applicable, and set forth in such
registration statement (hereafter, a "Shelf Registration Statement" and,
together with any Exchange Offer Registration Statement, a "Registration
Statement").

         (b) The Issuer shall use its best efforts to keep the Shelf
Registration Statement continuously effective in order to permit the prospectus
forming part thereof to be usable by Holders or the Initial Purchasers, as
applicable, for a period of two years from the date the Shelf Registration
Statement is declared effective by the Commission or such shorter period that
will terminate when all the Notes covered by the Shelf Registration Statement
have been sold pursuant to the Registration Statement or when, in the opinion of
outside counsel to the Issuer, which is reasonably satisfactory in form and
substance to counsel for the Initial Purchasers, all such Notes may be sold
without registration under the 1933 Act and unlegended certificates representing
the Securities may be given to the holders thereof (in any such case, such
period being called the "Shelf Registration Period"). The Issuer shall be deemed
not to have used its best efforts to keep the Shelf Registration Statement
effective during the requisite period if Revlon voluntarily takes any action
that would result in Holders of Securities covered thereby not being able to
offer and sell such Securities during that period, unless (i) such action is
required by applicable law, or (ii) such action is taken by Revlon in good faith
and for valid business reasons (not including avoidance of Revlon's obligations
hereunder), including, but not limited to, the acquisition or divestiture of
assets, so long as the Issuer promptly thereafter complies with the requirements
of Section 3(j) hereof, if applicable.

         (c) Notwithstanding any other provisions hereof, the Issuer shall
ensure that (i) any Shelf Registration Statement and any amendment thereto and
any prospectus forming part thereof and any supplement thereto complies in all
material respects with the 1933 Act and the rules and regulations thereunder,
(ii) any Shelf Registration Statement and any amendment thereto does not, when
it becomes effective, contain an untrue statement of a material fact or omit to
state a material fact required to be stated therein or necessary to make the
statements therein not misleading and (iii) any prospectus forming part of any
Shelf Registration Statement, and any supplement to such prospectus, does not
include an untrue statement of a material fact or omit to state a material fact
necessary in order to make the statements, in the light of the circumstances
under which they were made, not misleading.

         3. Registration Procedures. In connection with any Shelf Registration
Statement and, to the extent applicable, any Exchange Offer Registration
Statement, the following provisions shall apply:

         (a) The Issuer shall (i) furnish to each Initial Purchaser, prior to
the filing thereof with the Commission, a copy of the Registration Statement and
each amendment

                                                                               6

thereof and each supplement, if any, to the prospectus included therein and
shall use its best efforts to reflect in each such document, when so filed with
the Commission, such comments as the Initial Purchasers reasonably may propose;
(ii) include the information set forth in Annex A hereto on the outside back
cover page, in Annex B hereto in "The Exchange Offer" section, and in Annex C
hereto in the "Plan of Distribution" section of the prospectus forming a part of
the Exchange Offer Registration Statement, and include the information set forth
in Annex D hereto in the Letter of Transmittal delivered pursuant to the
Registered Exchange Offer; (iii) if requested by an Initial Purchaser, include
the information required by Items 507 and/or 508 of Regulation S-K under the
1933 Act, as applicable, in the prospectus forming a part of the Registration
Statement; and (iv) in the case of a Shelf Registration Statement, include the
names of the Holders who propose to sell Securities pursuant to the Shelf
Registration Statement, as selling security holders.

         (b) (1) The Issuer shall advise you (which notice pursuant to clause
(ii) shall be accompanied by an instruction to suspend the use of the prospectus
until the requisite changes have been made) and, in the case of a Shelf
Registration Statement, the Holders of Securities included therein, and, in the
case of an Exchange Offer Registration Statement, any Exchanging Dealer which
has provided in writing to the Issuer a telephone or facsimile number or address
for notices, and, if requested by you or any such Holder or Exchanging Dealer,
confirm such advice in writing:

         (i) when any Registration Statement and any amendment thereto has been
     filed with the Commission and when the Registration Statement or any
     post-effective amendment thereto has become effective; and

         (ii) of any request by the Commission for amendments or supplements to
     the Registration Statement or the prospectus included therein or for
     additional information.

         (2) The Issuer shall advise you and, in the case of a Shelf
Registration Statement, the Holders of Securities included therein, and, in the
case of an Exchange Offer Registration Statement, any Exchanging Dealer which
has provided in writing to the Issuer a telephone or facsimile number or address
for notices, and, if requested by you or any such Holder or Exchanging Dealer,
confirm such advice in writing:

         (i) of the issuance by the Commission of any stop order suspending the
     effectiveness of the Registration Statement or the initiation of any
     proceedings for that purpose;

         (ii) of the receipt by the Issuer of any notification with respect to
     the suspension of the qualification of the Securities included therein for
     sale in any jurisdiction or the initiation or threatening of any proceeding
     for such purpose; and

         (iii) of the happening of any event that requires the making of any
     changes in the Registration Statement or the prospectus so that, as of such
     date,

                                                                               7

     the statements therein are not misleading and do not omit to state a
     material fact required to be stated therein or necessary to make the
     statements therein (in the case of the prospectus, in light of the
     circumstances under which they were made) not misleading (which advice
     shall be accompanied by an instruction to suspend the use of the prospectus
     until the requisite changes have been made).

         (c) The Issuer shall make every reasonable effort to obtain the
withdrawal of any order suspending the effectiveness of any Registration
Statement at the earliest possible time.

         (d) The Issuer shall furnish to each Holder of Securities included
within the coverage of any Shelf Registration Statement (including any
Exchanging Dealer which so requests in writing or any Initial Purchaser),
without charge and upon request, at least one copy of such Shelf Registration
Statement and any post-effective amendment thereto, including financial
statements and schedules, and, if the Holder so requests in writing, all
exhibits (including those incorporated by reference).

         (e) The Issuer shall, during the Shelf Registration Period, deliver to
each Holder of Securities included within the coverage of any Shelf Registration
Statement, without charge, as many copies of the prospectus (including each
preliminary prospectus) included in such Shelf Registration Statement and any
amendment or supplement thereto as such Holder may reasonably request; and the
Issuer consents to the use of the prospectus or any amendment or supplement
thereto by each of the selling Holders of Securities in connection with the
offering and sale of the Securities covered by the prospectus or any amendment
or supplement thereto.

         (f) The Issuer shall furnish to each Exchanging Dealer or Initial
Purchaser, as applicable, which so requests, without charge, at least one copy
of the Exchange Offer Registration Statement and any post-effective amendment
thereto, including financial statements and schedules, and, if the Exchanging
Dealer or Initial Purchaser, as applicable, so requests in writing, all exhibits
(including those incorporated by reference).

         (g) The Issuer shall, during the Exchange Offer Registration Period,
promptly deliver to each broker-dealer that is the beneficial owner (as defined
in Rule 13d-3 under the Securities Exchange Act of 1934, as amended (the "1934
Act")) of Exchange Notes received by such broker-dealer in the Registered
Exchange Offer (a "Participating Broker-Dealer") and such other persons as may
be required to deliver a prospectus following the Registered Exchange Offer,
without charge, as many copies of the prospectus included in such Exchange Offer
Registration Statement and any amendment or supplement thereto as such person
may reasonably request for delivery by such person in connection with a sale of
Exchange Notes received by it pursuant to the Registered Exchange Offer; and the
Issuer consents to the use of the prospectus or any amendment or supplement
thereto by any such Participating Broker-Dealer or other person as aforesaid.

                                                                               8

         (h) Prior to any public offering of Securities pursuant to any
Registration Statement, the Issuer shall register or qualify or cooperate with
the Holders of Securities included therein and their respective counsel in
connection with the registration or qualification of such Securities for offer
and sale under the securities or blue sky laws of such jurisdictions as any such
Holder reasonably requests in writing and do any and all other acts or things
necessary or advisable to enable the offer and sale in such jurisdictions of the
Securities covered by such Registration Statement; provided, however, that
Revlon shall not be required to qualify generally to do business in any
jurisdiction where it is not then so qualified or to take any action which would
subject it to general service of process or to taxation in any such jurisdiction
where it is not then so subject.

         (i) The Issuer shall cooperate with the Holders of Securities to
facilitate the timely preparation and delivery of certificates representing the
Securities to be sold pursuant to any Shelf Registration Statement free of any
restrictive legends and in such denominations and registered in such names as
Holders may request prior to sales of the Securities pursuant to such Shelf
Registration Statement.

         (j) Upon the occurrence of any event contemplated by paragraph
(b)(2)(iii) above, the Issuer shall promptly prepare a post-effective amendment
to the Registration Statement or a supplement to the related prospectus or file
any other required document so that, as thereafter delivered to purchasers of
the Securities included therein, the prospectus will not include an untrue
statement of a material fact or omit to state any material fact necessary to
make the statements therein, in the light of the circumstances under which they
were made, not misleading. If the Issuer notifies the Initial Purchasers, the
Holders and any known Participating Broker-Dealer in accordance with paragraphs
(1)(ii) or (2)(i) through (iii) of Section 3(b) above to suspend the use of the
prospectus until the requisite changes to the prospectus have been made, then
the Initial Purchasers, the Holders and any such Participating Broker-Dealers
shall suspend use of such prospectus.

         (k) Not later than the effective date of the applicable Registration
Statement, the Issuer shall provide a CUSIP number for the Notes, the Exchange
Notes or the Private Exchange Notes, as the case may be, and provide the trustee
with printed certificates for the Notes, the Exchange Notes or the Private
Exchange Notes, as the case may be, in a form eligible for deposit with The
Depository Trust Company (it being expressly understood that the Exchange Notes
will continue to be held in book-entry form in the same manner as the Notes).

         (l) The Issuer shall comply with all applicable rules and regulations
of the Commission and shall make generally available to its security holders as
soon as practicable after the effective date of the applicable Registration
Statement an earnings statement satisfying the provisions of Section 11(a) of
the 1933 Act.

         (m) The Issuer shall cause the Indenture to remain qualified under the
Trust Indenture Act of 1939, as amended, for so long as the Notes or the
Exchange Notes remain outstanding. In the event that such qualification requires
the appointment of a

                                                                               9

new trustee under the Indenture, the Issuer shall appoint a new trustee
thereunder pursuant to the applicable provisions of the Indenture.

         (n) The Issuer may require each Holder of Securities to be sold
pursuant to any Shelf Registration Statement to furnish to the Issuer such
information regarding the Holder and the distribution of such Securities as the
Issuer may from time to time reasonably require for inclusion in such
Registration Statement, and the Issuer may exclude from such Registration
Statement the Securities of any Holder that fails to furnish such information
within a reasonable time after receiving such request.

         (o) The Issuer shall enter into such customary agreements (including if
requested an underwriting agreement in customary form) and take all such other
action, if any, as any Holder shall reasonably request in order to facilitate
the disposition of the Securities pursuant to any Shelf Registration Statement.

         (p) In the case of any Shelf Registration Statement, the Issuer shall
(i) make reasonably available for inspection by the Holders, and any underwriter
participating in any disposition pursuant to a Registration Statement, and any
attorney, accountant or other agent retained by the Holders or any such
underwriter, all relevant financial and other records, pertinent corporate
documents and properties of the Issuer and (ii) cause the Issuer's officers,
directors and employees to supply all relevant information reasonably requested
by the Holders or any such underwriter, attorney, accountant or agent in
connection with any such Registration Statement; provided, however, that if any
information is designated in writing by the Issuer, in good faith, as
confidential at the time of delivery of such information, the Holders or any
such underwriter, attorney, accountant or other agent, shall agree to keep such
information confidential, unless such disclosure is made in connection with a
court proceeding or required by applicable law, regulation or judicial process
or at the request of any regulatory entity, governmental agency or authority, or
self-regulatory agency or stock exchange having, or reasonably claiming to have,
regulatory powers over any such recipient's activities, or such information
becomes available to the public generally or through a third party, other than
by such Holder, underwriter, attorney, accountant or other agent, without an
accompanying obligation of confidentiality.

         (q) In the case of any Exchange Offer Registration Statement, the
Issuer shall (i) make reasonably available for inspection by the Initial
Purchasers, but in each case only in such firm's capacity as an Exchanging
Dealer and with the express understanding that each such firm shall be acting
solely for itself and not on behalf of any other party, including, without
limitation, any other Exchanging Dealer, all relevant financial and other
records, pertinent corporate documents and properties of the Issuer and (ii)
cause the Issuer's officers, directors and employees to supply all information
reasonably requested by any of them; provided, however, that if any information
that is designated in writing by the Issuer, in good faith, as confidential at
the time of delivery of such information, the Initial Purchasers shall agree to
keep such information confidential unless such disclosure is made in connection
with a court proceeding or required by applicable law, regulation or judicial
process or at the request of any regulatory entity, governmental agency or
authority, or self-regulatory agency or stock exchange having, or

                                                                              10

reasonably claiming to have, regulatory powers over any such recipient's
activities, or such information becomes available to the public generally or
through a third party, other than by such Initial Purchasers, without an
accompanying obligation of confidentiality. The Issuer understands and
recognizes that the Initial Purchasers, as participants in the offering of the
Notes, and their authorized representatives have obligations and defenses under
the various securities laws, regulations, principles and related case law
including in connection with complete and correct disclosure to investors, "due
diligence" and obligations imposed by applicable standards of professional
conduct. Nothing in this Section 3(q) shall limit in any respect (a) the ability
of the Initial Purchasers to comply in full with such obligations and (b) the
ability of any party or its agents to retain and disclose such information
provided by the Issuer pursuant to this Section 3(q) that such Initial Purchaser
believes, in good faith, is necessary to establish any claim or defense in
connection with any claims, action or proceeding to which it is a party.

         (r) In the case of any Shelf Registration Statement, the Issuer, if
requested by any Holder, shall cause (x) its counsel to deliver an opinion
relating to the Securities included within the coverage of such Shelf
Registration Statement in customary form, (y) its officers to execute and
deliver all customary documents and certificates requested by any underwriters
of the Securities and (z) its independent public accountants to provide to the
selling Holders and any underwriter therefor a comfort letter in customary form.

         (s) In the case of any Exchange Offer Registration Statement, the
Issuer, if requested by the Initial Purchasers, but in each case only in such
firm's capacity as an Exchanging Dealer and with the express understanding that
each such firm shall be acting solely for itself and not on behalf of any other
party, including, without limitation, any other Exchanging Dealer, in connection
with any prospectus delivery as contemplated in paragraph (g) above, shall use
its best efforts to cause, on and as of the effective date of the Exchange Offer
Registration Statement, (x) its counsel to deliver an opinion relating to the
Exchange Offer Registration Statement and the Exchange Notes in customary form,
(y) its officers to execute and deliver all customary documents and certificates
requested and (z) its independent public accountants to provide a comfort letter
in customary form, subject to receipt of appropriate documentation (including
the delivery of a customary representation letter), as contemplated by Statement
on Auditing Standards No. 72.

         (t) If a Registered Exchange Offer or a Private Exchange is to be
consummated, upon delivery of the Notes by Holders to the Issuer (or to such
other person as directed by the Issuer) in exchange for the Exchange Notes or
the Private Exchange Notes, as the case may be, the Issuer shall mark, or cause
to be marked, on the Notes so exchanged that such Notes are being canceled in
exchange for the Exchange Notes or the Private Exchange Notes, as the case may
be; in no event shall the Notes be marked as paid or otherwise satisfied.

         (u) The Issuer shall pay interest on the Notes for failure to comply
with its obligations under Section 1 or Section 2, as applicable, in accordance
with the terms of the Notes.

                                                                              11

         4. Registration Expenses. Revlon shall bear all expenses incurred in
connection with the performance of its obligations under Sections 1, 2 and 3
hereof and, in the event of any Shelf Registration Statement, shall reimburse
the Holders for the reasonable fees and disbursements of one firm or counsel
designated by the Holders of a majority in principal amount of the Securities to
be registered thereunder to act as counsel for the Holders in connection
therewith up to $50,000 in the aggregate, and, in the case of any Exchange Offer
Registration Statement, shall reimburse the Initial Purchasers, as applicable,
for the reasonable fees and disbursements of counsel in connection therewith up
to $50,000 in the aggregate, whether or not the Exchange Offer Registration
Statement or a Shelf Registration Statement is filed or becomes effective.

         5. Indemnification. (a) In connection with a Shelf Registration or in
connection with any prospectus delivery pursuant to a Registered Exchange Offer
by an Exchanging Dealer as contemplated in Section 3(g) above, Revlon shall
indemnify and hold harmless each Holder, the directors, officers, employees and
agents of each Holder, if any, and each person, if any, who controls such Holder
within the meaning of Section 15 of the 1933 Act or Section 20 of the 1934 Act
as follows:

         (i) against any and all losses, claims, damages or liabilities, joint
     or several, to which they or any of them may become subject under the 1933
     Act, the 1934 Act or other Federal or state statutory law or regulation, at
     common law or otherwise, insofar as such losses, claims, damages or
     liabilities (or actions in respect thereof), arise out of or are based upon
     any untrue statement or alleged untrue statement of a material fact
     contained in any such Registration Statement or any prospectus forming part
     thereof or arise out of or are based upon the omission or alleged omission
     to state therein a material fact required to be stated therein or necessary
     to make the statements therein (in the case of any prospectus, in the light
     of the circumstances under which they were made) not misleading; and

         (ii) promptly, upon demand, each such indemnified party, as incurred,
     against any and all legal or other expenses reasonably incurred (including,
     subject to Section 5(c) hereof, the reasonable fees and disbursements of
     counsel chosen by the indemnified party) in connection with investigating
     or defending against any litigation, or any investigation or proceeding by
     any governmental or regulatory agency or body, commenced or threatened, or
     any losses, claims, damages or liabilities whatsoever based upon any such
     untrue statement or omission, or any such alleged untrue statement or
     omission;

provided, however, that (i) this indemnity shall not apply to any loss, claim,
damage, liability or expense to the extent arising out of or based upon any
untrue statement or omission or alleged untrue statement or omission made in
reliance upon and in conformity with written information furnished to the Issuer
by the indemnified party expressly for use in such Registration Statement or any
prospectus forming part thereof and (ii) such indemnity with respect to any
preliminary prospectus shall not inure to the benefit of any Holder (or the
directors, officers, employees and agents of such Holder or any person
controlling such Holder) from whom the person asserting any such loss,

                                                                              12

claim, damage or liability purchased the Securities which are the subject
thereof if such person did not receive a copy of the final prospectus (or the
final prospectus as supplemented) at or prior to the confirmation of the sale of
such Securities to such person and (A) the untrue statement or omission of a
material fact contained in such preliminary prospectus was corrected in the
final prospectus (or the final prospectus as supplemented) and (B) such Holder
had previously been furnished by or on behalf of the Issuer (prior to the date
of mailing by such Holder of the applicable confirmation) with a sufficient
number of copies of the final prospectus as so amended or supplemented.

         (b) In the event of a Shelf Registration Statement, each Holder shall
indemnify and hold harmless the Issuer, its directors, officers, employees and
agents and each person, if any, who controls the Issuer within the meaning of
Section 15 of the 1933 Act or Section 20 of the 1934 Act against any and all
loss, liability, claim, damage and expense described in the indemnity contained
in Section 5(a) hereof, as incurred, but only with respect to untrue statements
or omissions, or alleged untrue statements or omissions, made in the
Registration Statement (or any amendment or supplement thereto) in reliance on
and in conformity with written information furnished to the Issuer by such
Holder expressly for use in the Registration Statement (or in such amendment or
supplement); provided, however, that no such Holder shall be liable for any
indemnity claims hereunder in excess of the amount of net proceeds received by
such Holder from the sale of Securities pursuant to the Registration Statement.

         (c) Each indemnified party shall give notice promptly to each
indemnifying party of any action commenced against it in respect of which
indemnity may be sought hereunder, but failure to so notify an indemnifying
party (i) will not relieve it from liability under paragraph (a) or (b) above
unless and to the extent it did not otherwise learn of such action and such
failure results in the forfeiture by the indemnifying party of substantial
rights and defenses; and (ii) will not, in any event, relieve the indemnifying
party from any obligations to any indemnified party other than the
indemnification obligation provided in paragraph (a) or (b) above. If any such
claim or action shall be brought against an indemnified party, the indemnifying
party shall be entitled to participate therein and, to the extent that it
wishes, jointly with any other similarly notified indemnifying party, to assume
the defense thereof with counsel reasonably satisfactory to the indemnified
party. Except as set forth below, after notice from the indemnifying party to
the indemnified party of its election to assume the defense of such claim or
action, the indemnifying party shall not be liable to the indemnified party
under this Section 5 for any legal or other expenses subsequently incurred by
the indemnified party in connection with the defense thereof (other than
reasonable costs of investigation). Notwithstanding the indemnifying party's
election to appoint counsel to represent the indemnified party in an action, the
indemnified party shall have the right to employ separate counsel (including
local counsel), and the indemnifying party shall bear the reasonable fees, costs
and expenses of such separate counsel if (i) the use of counsel chosen by the
indemnifying party to represent the indemnified party would present such counsel
with a conflict of interest; (ii) the actual or potential defendants in, or
targets of, any such action include both the indemnified party and the
indemnifying party and the indemnified party shall have reasonably concluded
that there may be legal defenses available to it and/or other indemnified
parties which are different from or additional to

                                                                              13

those available to the indemnifying party; (iii) the indemnifying party shall
not have employed counsel reasonably satisfactory to the indemnified party to
represent the indemnified party within a reasonable time after notice of the
institution of such action; or (iv) the indemnifying party shall authorize the
indemnified party in writing to employ separate counsel at the expense of the
indemnifying party. It is understood, however, that the indemnifying party
shall, in connection with any one such action or separate but substantially
similar or related actions in the same jurisdiction arising out of the same
general allegations or circumstances, be liable for the reasonable fees and
expenses of only one separate firm of attorneys (in addition to any local
counsel) at any time for all such indemnified parties and controlling persons.
An indemnifying party shall not be liable under this Section 5 to any
indemnified party regarding any settlement or compromise or consent to the entry
of any judgment with respect to any pending or threatened claim, action, suit or
proceeding in respect of which indemnification or contribution may be sought
hereunder (whether or not the indemnified parties are actual or potential
parties to such claim or action) unless such settlement, compromise or consent
is consented to by such indemnifying party (which consent shall not be
unreasonably withheld), but if settled with its written consent or if there be a
final judgment for the plaintiff in any such action, the indemnifying party
agrees to indemnify and hold harmless any indemnified party from and against any
loss or liability by reason of such settlement or judgment. An indemnifying
party shall not, without the prior written consent of the indemnified party
(which consent shall not be unreasonably withheld), settle or compromise or
consent to the entry of any judgment with respect to any pending or threatened
claim, action, suit or proceeding in respect of which indemnification or
contribution may be sought hereunder (whether or not the indemnified parties are
actual or potential parties to such claim or action) unless such settlement,
compromise or consent includes an unconditional release of each indemnified
party from all liability arising out of such claim, action, suit or proceeding.

         (d) In the event that the indemnity provided for in Sections 5(a)
through (c) hereof is unavailable to or insufficient to hold harmless an
indemnified party for any reason, Revlon and the applicable Holder or Holders
severally agree to contribute to the aggregate losses, claims, damages,
liabilities and expenses (including legal or other expenses reasonably incurred
in connection with investigating or defending the same), contemplated by said
indemnity (collectively "Losses"), to which Revlon and such Holder or Holders
may be subject. Revlon will be responsible for the portion of such Losses
represented by the percentage that the aggregate consideration received by
Revlon from the sale by it of the Securities sold by such Holder bears to the
aggregate principal amount of Securities sold by such Holder and such Holder
will be responsible for the balance of such Losses; provided, however, that no
person found guilty of fraudulent misrepresentation (within the meaning of
Section 11(f) of the 1933 Act) by a court of competent jurisdiction shall be
entitled to contribution from any person who was not guilty of such fraudulent
misrepresentation. For purposes of this Section 5, each person, if any, who
controls a Holder within the meaning of Section 15 of the 1933 Act or Section 20
of the 1934 Act shall have the same rights to contribution as such Holder and
each director and officer of Revlon and each person, if any, who controls Revlon
within the meaning of Section 15 of the 1933 Act or Section 20 of the 1934 Act
shall have the same rights to contribution as Revlon.

                                                                              14

         (e) The agreements contained in this Section 5 shall survive the sale
of the Securities pursuant to a Registration Statement and shall remain in full
force and effect, regardless of any termination or cancelation of this Agreement
or any investigation made by or on behalf of any indemnified party.

         6. Underwritten Registrations. (a) "Transfer Restricted Notes" means
each Security until the earliest of (i) the date on which such Transfer
Restricted Note has been exchanged by a person other than a broker-dealer for a
freely transferable Exchange Note in the Registered Exchange Offer, (ii)
following the exchange by a broker-dealer in the Registered Exchange Offer of a
Transfer Restricted Note for an Exchange Note, the date on which such Exchange
Note is sold to a purchaser who receives from such broker-dealer on or prior to
the date of such sale a copy of the prospectus contained in the Exchange Offer
Registration Statement, (iii) the date on which such Transfer Restricted Note
has been effectively registered under the 1933 Act and disposed of in accordance
with the Shelf Registration Statement or (iv) the date on which such Transfer
Restricted Note is distributed to the public pursuant to Rule 144 under the 1933
Act or is saleable pursuant to Rule 144(k) under the 1933 Act.

         (b) If any of the Transfer Restricted Notes covered by any Shelf
Registration are to be sold in an underwritten offering, the investment banker
or investment bankers and manager or managers that will administer the offering
("Managing Underwriters") will be selected by the Holders of a majority in
aggregate principal amount of such Transfer Restricted Notes to be included in
such offering.

         No person may participate in any underwritten registration hereunder
unless such person (i) agrees to sell such person's Transfer Restricted Notes on
the basis reasonably provided in any underwriting arrangements approved by the
persons entitled hereunder to approve such arrangements and (ii) completes and
executes all questionnaires, powers of attorney, indemnities, underwriting
agreements and other documents reasonably required under the terms of such
underwriting arrangements.

         7. Miscellaneous. (a) Amendment and Waivers. The provisions of this
Agreement may not be amended, modified or supplemented, and waivers or consents
to departures from the provisions hereof may not be given, unless Revlon has
obtained the written consent of Holders of a majority in aggregate principal
amount of the Securities.

         (b) Notices. All notices and other communications provided for or
permitted hereunder shall be made in writing by hand-delivery, first-class mail,
telex, telecopier, or air courier guaranteeing overnight delivery:

         (i) if to a Holder, at the most current address given by such Holder to
     the Issuer in accordance with the provisions of this Section 7(b), which
     address initially is, with respect to each Holder, the address of such
     Holder maintained by the Registrar under the Indenture, with a copy in like
     manner to the Initial Purchasers;

                                                                              15

         (ii) if to the Initial Purchasers, initially at the respective
     addresses set forth in the Purchase Agreement with copies to the parties
     specified therein; and

         (iii) if to the Issuer, initially at its address set forth in the
     Purchase Agreement, with copies to the parties specified therein.

         All such notices and communications shall be deemed to have been duly
given when received.

         The Initial Purchasers or Revlon by notice to the other may designate
additional or different addresses for subsequent notices or communications.

         (c) Successors and Assigns. This Agreement shall be binding upon Revlon
and its successors and assigns.

         (d) Counterparts. This agreement may be executed in any number of
counterparts and by the parties hereto in separate counterparts, each of which
when so executed shall be deemed to be an original and all of which taken
together shall constitute one and the same agreement.

         (e) Headings. The headings in this agreement are for convenience of
reference only and shall not limit or otherwise affect the meaning hereof.

         (f) Governing Law. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN
ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. Specified times of day refer
to New York City time.

         (g) THE PARTIES HERETO HEREBY SUBMIT TO THE EXCLUSIVE JURISDICTION OF
THE FEDERAL AND STATE COURTS IN THE BOROUGH OF MANHATTAN IN THE CITY OF NEW YORK
IN ANY SUIT OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE
TRANSACTIONS CONTEMPLATED HEREBY.

         (h) Severability. If any one or more of the provisions contained
herein, or the application thereof in any circumstance, is held invalid, illegal
or unenforceable, the validity, legality and enforceability of any such
provision in every other respect and of the remaining provisions contained
herein shall not be affected or impaired thereby.

         (i) Securities Held by the Issuer. Whenever the consent or approval of
Holders of a specified percentage of principal amount of Securities is required
hereunder, Securities held by the Issuer or any of its affiliates (other than
subsequent Holders of Securities if such subsequent Holders are deemed to be
affiliates solely by reason of their holdings of such Securities) shall not be
counted in determining whether such consent or approval was given by the Holders
of such required percentage.

         (j) No Inconsistent Agreements. Revlon has not, as of the date hereof,
entered into, nor shall it, on or after the date hereof, enter into, any
agreement with

                                                                              16

respect to its securities that is inconsistent with the rights granted to the
Holders herein or otherwise conflicts with the provisions hereof.

         (k) Copies of Agreement. Revlon shall provide a copy of this Agreement
to prospective purchasers of the Notes identified to them by the Initial
Purchasers upon request.

         Please confirm that the foregoing correctly sets forth the agreement
between Revlon and you.

                                                Very truly yours,

                                                REVLON CONSUMER PRODUCTS
                                                CORPORATION,

                                                By /s/ Michael T. Sheehan
                                                    -----------------------
                                                    Name: Michael T. Sheehan
                                                    Title: Vice President and
                                                           Assistant Secretary

                    [Registration Agreement Signature Page]

CONFIRMED AND ACCEPTED
as of the date first above written:

CITIGROUP GLOBAL MARKETS INC.,

   By  /s/ Julie Persily
       ---------------------
       Name: Julie Persily
       Title: Managing Director

                    [Registration Agreement Signature Page]

                                                                      ANNEX A TO
                                                          REGISTRATION AGREEMENT

         Each broker-dealer that receives Exchange Notes for its own account
pursuant to the Exchange Offer must acknowledge that it will deliver a
prospectus in connection with any resale of such Exchange Notes. The Letter of
Transmittal states that by so acknowledging and by delivering a prospectus, a
broker-dealer will not be deemed to admit that it is an "underwriter" within the
meaning of the 1933 Act. This Prospectus, as it may be amended or supplemented
from time to time, may be used by a broker-dealer in connection with resales of
Exchange Notes received in exchange for the Notes where such Notes were acquired
by such broker-dealer as a result of market-making activities or other trading
activities. The Issuer has agreed that, for a period of 180 days after the
Expiration Date (as defined herein), it will make this Prospectus available to
any broker-dealer for use in connection with any such resale. See "Plan of
Distribution".

                                                                      ANNEX B TO
                                                          REGISTRATION AGREEMENT

         Each broker-dealer that receives Exchange Notes for its own account in
exchange for the Notes, where such Notes were acquired by such broker-dealer as
a result of market-making activities or other trading activities, must
acknowledge that it will deliver a prospectus in connection with any resale of
such Exchange Notes. See "Plan of Distribution".

                                                                      ANNEX C TO
                                                          REGISTRATION AGREEMENT

                              PLAN OF DISTRIBUTION

         Each broker-dealer that receives Exchange Notes for its own account
pursuant to the Exchange Offer must acknowledge that it will deliver a
prospectus in connection with any resale of such Exchange Notes. This
Prospectus, as it may be amended or supplemented from time to time, may be used
by a broker-dealer in connection with resales of Exchange Notes received in
exchange for Existing Notes where such Existing Notes were acquired as a result
of market-making activities or other trading activities. The Issuer has agreed
that for a period of 180 days after the Expiration Date, it will make this
Prospectus, as amended or supplemented, available to any broker-dealer for use
in connection with any such resale. In addition, until o, 200o, all dealers
effecting transactions in the Exchange Notes may be required to deliver a
prospectus. (1)

         The Issuer will not receive any proceeds from any sale of Exchange
Notes by broker-dealers. Exchange Notes received by broker-dealers for their own
account pursuant to the Exchange Offer may be sold from time to time in one or
more transactions in the over-the-counter market, in negotiated transactions,
through the writing of options on the Exchange Notes or a combination of such
methods of resale, at market prices prevailing at the time of resale, at prices
related to such prevailing market prices or negotiated prices. Any such resale
may be made directly to purchasers or to or through brokers or dealers who may
receive compensation in the form of commissions or concessions from any such
broker-dealer and/or the purchasers of any such Exchange Notes. Any
broker-dealer that resells Exchange Notes that were received by it for its own
account pursuant to the Exchange Offer and any broker or dealer that
participates in a distribution of such Exchange Notes may be deemed to be an
"underwriter" within the meaning of the 1933 Act and any profit on any such
resale of Exchange Notes and any commissions or concessions received by any such
persons may be deemed to be underwriting compensation under the 1933 Act. The
Letter of Transmittal states that by acknowledging that it will deliver and by
delivering a prospectus, a broker-dealer will not be deemed to admit that it is
an "underwriter" within the meaning of the 1933 Act.

         For a period of 180 days after the Expiration Date, the Issuer will
promptly send additional copies of this Prospectus and any amendment or
supplement to this Prospectus to any broker-dealer that requests such documents
in the Letter of Transmittal. The Issuer has agreed to pay all expenses incident
to the Exchange Offer other than commissions or concessions of any brokers or
dealers and will indemnify the holders of the Notes (including any
broker-dealers) against certain liabilities, including liabilities under the
1933 Act.

----------------------
         (1) The legend required by Item 502(b) of Regulation S-K must appear on
the back page of the Exchange Offer Prospectus, if required.

                                                                      ANNEX D TO
                                                          REGISTRATION AGREEMENT

                                     Rider A

[] CHECK HERE IF YOU ARE A BROKER-DEALER AND WISH TO RECEIVE 10 ADDITIONAL
COPIES OF THE PROSPECTUS AND 10 COPIES OF ANY AMENDMENTS OR SUPPLEMENTS THERETO.

                  Name:
                           Address:

                                     Rider B

If the undersigned is not a broker-dealer, the undersigned represents that it is
not engaged in, and does not intend to engage in, a distribution of Exchange
Notes. If the undersigned is a broker-dealer that will receive Exchange Notes
for its own account in exchange for Notes, it represents that the Notes to be
exchanged for Exchange Notes were acquired by it as a result of market-making or
other trading activities and acknowledges that it will deliver a prospectus in
connection with any resale of such Exchange Notes; however, by so acknowledging
and by delivering a prospectus, the undersigned will not be deemed to admit that
it is an "underwriter" within the meaning of the 1933 Act.

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