Document:

THROUGHOUT THIS AGREEMENT, WHERE INFORMATION HAS BEEN REPLACED BY AN ASTERISK
(*), THAT INFORMATION HAS BEEN OMITTED PURSUANT TO A REQUEST FOR CONFIDENTIAL
TREATMENT FILED WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE
24B-2 PROMULGATED UNDER THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. THE
OMITTED INFORMATION HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE
COMMISSION.

                                                                   EXHIBIT 10.69

                                LICENSE AGREEMENT

         THIS AGREEMENT (the "Agreement") made and entered into as of the 8th
day of December 2004, by and between Andy R., Inc. ("Licensor") f/s/o Andy
Roddick ("Roddick"), a Florida corporation with an address c/o SFX Sports Group,
Inc. ("SFX Sports"), 2665 South Bayshore Drive, Suite 606, Coconut Grove, FL
33133 (Attn. Kenneth Meyerson), and PARLUX FRAGRANCES, INC., a Delaware
corporation with offices at 3725 SW 30TH Avenue, Ft. Lauderdale, FL. 33312
("Licensee") (together the "Parties").

                              W I T N E S S E T H :

         WHEREAS, Licensor is the sole and exclusive owner of the Licensed Mark
(as hereinafter defined) and has used and currently is using, directly and
through licenses, the License Mark for a variety of products; and

WHEREAS, Roddick has licensed all such rights and the right to provide all such
ancillary services to Licensor, along with the rights to sublicense such rights
to third parties; and

         WHEREAS, Licensee is engaged in the business of manufacturing,
promoting and selling Articles (as hereinafter defined) and Licensor desires to
obtain the services of Licensee in connection with the manufacture, promotion
and sale of the Articles bearing the Licensed Mark; and

         WHEREAS, Licensor is willing to grant the Licensee and Licensee desires
to obtain from Licensor, the exclusive right and license to use the Licensed
Mark in the Territory (as hereinafter defined) solely for use on and in
connection with the manufacture, promotion, distribution and sale of Articles;

         NOW, THEREFORE, in consideration of the premises and mutual agreements
contained herein, the Parties hereto covenant and agree as follows:

                                    ARTICLE 1
                                   Definitions

         The following definitions shall apply:

A. Territory. Territory shall mean all countries of the world and all
duty-free-shops, ships, airplanes, military bases and diplomatic missions of
every country of the world, including the world-wide web.

<PAGE>

B. Articles. Men's and women's fragrances ("fragrances") and related personal
care products such as after shave balm or gel, deodorant stick, bath and shower
gel, body lotions, body mist and bath soap, which are manufactured, produced,
sold, distributed, promoted and advertised by Licensee and which bear the
Licensed Mark under this License Agreement. Notwithstanding the foregoing, and
subject to the terms of Article 3 below, Licensor shall have the option, by
providing written notice to Licensee, to exclude any of the above-referenced
categories, with the exception of fragrances, from the definition of "Articles"
in the event it wishes to enter into an agreement to endorse a product in said
categories (i.e. Gillette).

C. Licensed Mark. The name Andy Roddick and such other trademarks as are, from
time to time, agreed to by Licensor.

D. Roddick Endorsement. The Roddick Endorsement shall mean the right to use,
subject to the provisions hereof, Roddick's name, fame, nickname, initials,
autograph, voice, video, film portrayals or performances, facsimile or original
signature, photograph, likeness and image or facsimile image, and any other
means of endorsement by Roddick used in connection with the advertising,
promotion and sale of the Articles.

E. Net Sales. The sales price at which Licensee or any Subsidiary or Affiliate
(as hereinafter defined) bills its customers for Articles less: (1) all
documented returns of damaged, defective or other merchandise, uncollectible
accounts, trade and cash discounts and allowances, and taxes directly applicable
to the sale of Articles (such as sales, use, value added or similar taxes),but
only to the extent included in the gross sales price, (ii) freight and shipping
charges, insurance costs and duties and other governmental charges paid by the
Licensee to the extent stated separately on any invoice, and/or (iii) all
receipts from sale of samples, displays, brochures, gift-with-purchase and
similar advertising and promotional materials and packaging supplies in which
the Licensee receives a minimum gross margin of less than twenty five percent
(25%).

F. Subsidiary. Any corporation or other entity which is one hundred percent
(100%) directly or indirectly owned by Licensee.

G. Affiliate. Any corporation or other entity which is at least fifty percent
(50%) owned by Licensee.

H. Annual Period. Each twelve (12) month period commencing on each July 1st
during the Term (as hereinafter defined) of this Agreement shall constitute and
be referred to herein as an "Annual Period" except that the first Annual Period
shall commence on the date hereof and shall terminate on June 30, 2006.

I. Consumer Advertising. Consumer Advertising shall be understood to include
newspapers, magazines, television, radio, Internet, billboards (including
related artwork and production charges for these five categories) cooperative
advertising, retailer demonstration charges, retailers' catalogues,

<PAGE>

gifts-with-purchase (so long as any such gifts do not violate one of Roddick's
or Licensor's existing or future endorsement relationships (i.e. Reebok, Rolex,
etc.), direct mail, remittance envelopes, blow-ins, billing inserts (both
scented and unscented), product samples, pamphlets, free goods (including those
to Licensor for events and other public relations activities), window and
counter displays (including testers, dummies, counter cards and other visual
aids), in-store demonstrators and models, special events, contests, publicity
and promotions.

                                    ARTICLE 2
                                Grant of License

         Upon the terms and conditions of this Agreement, Licensor hereby grants
to Licensee, during the Term of this Agreement, the sole and exclusive right and
license to use the Licensed Mark in the Territory as a trademark solely in
connection with the manufacture, promotion, sale and distribution solely of the
Articles and on all brand identifications, packing materials, containers,
promotional material, publicity, sales, advertising, newspaper, magazine, radio,
television, cinema and similar media presently existing or that may exist in the
future, in connection solely with the creation, manufacture, introduction,
marketing, distribution, sale and advertising of the Articles, through the
channels customarily used to manufacture, sell, distribute, advertise and
promote Articles of comparable prestige and quality in the ordinary course of
business as described in paragraph A of Article 7 below.

         Under no circumstances does this Agreement grant or purport to grant to
Licensee the right to use any logo, trademark, or service mark owned by the
Association of Tennis Professionals ("ATP"), the United States Tennis
Association ("USTA") or the International Tennis Federation ("ITF"). Licensee
agrees and acknowledges that it must obtain approval from the ATP, USTA and/or
ITF for the use of any such marks or insignias, and in the absence of such
written approval, shall not make any use whatsoever thereof.

                                    ARTICLE 3
                             Exclusivity of License

         Licensor will not grant any other license effective during the Term of
this Agreement for the use of the Licensed Mark or Roddick Endorsement on or in
connection with the endorsement of Articles in the Territory. Licensor may use
or grant others the right to use the Licensed Mark and Roddick Endorsement on or
in connection with goods of all other types and descriptions in the Territory.
Notwithstanding anything to the contrary contained herein, nothing shall prevent
Licensor from licensing the Roddick Endorsement in connection with any product
competitive with, similar to or the same as the Articles (other than fragrances)
provided such product is not branded with the Licensor Mark (i.e. Licensor shall
have the right to enter into an agreement with Gillette to endorse its products
so long as Gillette does not brand its products with the Licensor Mark.)

<PAGE>

         Licensor acknowledges that Licensee presently manufactures and/or
distributes in parts of the Territory articles similar to the Articles covered
by this Agreement which bear other trademarks. Licensor further acknowledges and
consents to the Licensee obtaining other additional licenses for the manufacture
and/or distribution of other similar lines during the Term of this Agreement.
Licensee will not attack, during the Term of this Agreement and thereafter,
either Licensor's title in and to the Licensed Mark or the Roddick Endorsement,
or the validity of this License.

                                    ARTICLE 4
                                Term of Agreement

         Subject to the rights of termination set forth in this Agreement, the
initial term of this agreement shall commence on the date hereof and shall
terminate on June 30, 2009. Licensee shall have the option to renew this
Agreement for an additional three (3) year period provided:

A.       Guaranteed Minimum Royalties (as hereinafter defined) for the initial
         term of this Agreement have been paid; and

B.       Licensee gives Licensor notice in writing of its intent to renew no
         later than December 31, 2008.

                                    ARTICLE 5
                                 Confidentiality

         The Parties acknowledge that all non-public proprietary information
relating to the business and operations of Licensor and Licensee which they
learn or have learned from the other during or prior to the term of this
Agreement is confidential. The Parties acknowledge the need to preserve the
confidentiality and secrecy of such information and agree that, both during the
term of this Agreement and after the expiration or termination hereof, they
shall not use or disclose same, and shall take all reasonable steps to preserve
in all respects such confidentiality and secrecy, it being understood that a
Party shall have complied with the foregoing obligation if such Party
understands at least the same measures and precautions it uses to safeguard its
own confidential information.. The provisions of this paragraph shall not apply
with respect to:

A.       any information that is generally available to the public other than as
         a result of disclosure in violation of the foregoing;

B.       any information that is known to Licensor prior to disclosure by
         Licensee or independently developed by Licensor;

C.       any otherwise confidential information that is disclosed to Licensor by
         a third party and such disclosure by the third party is not, to the
         best knowledge of Licensor, in violation of any confidentiality
         agreement of the party to Licensee; or

<PAGE>

D.       information that is required to be disclosed by judicial or
         administrative order or required to be disclosed to enforce the terms
         and conditions hereof.

         The provisions of this paragraph shall survive the expiration or
termination of this Agreement.

                                    ARTICLE 6
                               Duties of Licensee

A. Best Efforts. During the Term of this Agreement, Licensee will use its best
efforts to exploit the rights herein granted throughout the Territory and to
sell the maximum quantity of Articles therein consistent with the high standards
and prestige represented by the Licensed Mark.

B. Design and Sample Making. Licensor shall not be responsible for the
production, design or sample making of the Articles and Licensee shall bear all
costs related thereto.

C. Marketing Commitment. During the Term of the Agreement, Licensee agrees to
develop, produce, market and sell a Roddick line of Articles, which consist of:
(i) no fewer than one (1) brand of Roddick Articles (the "Roddick Articles") in
the first Annual Period, which shall have a commercial release to the general
public no later than May 1, 2006; and (ii) no fewer than one (1) additional
brand of Roddick Articles in the third Annual Period which shall have a
commercial release to the general public between July 1, 2007 and January 1,
2008. Licensee agrees that all Roddick Articles will at least be distributed
through channels normally used to distribute Articles. All rights of Licensee to
develop, produce, market or sell any Roddick Articles shall terminate upon the
expiration or termination of this Agreement except as provided herein.
Furthermore, during the Term, Licensee agrees that it shall not, without
Licensor's prior written permission, which shall not be unreasonably withheld,
conditioned or delayed, disassociate the Roddick Endorsement from any Roddick
Articles.

                                    ARTICLE 7
                                Quality Standards

A. Manufacture of Articles; Quality Control.

          (i)   The contents and workmanship of Articles shall be at all times

                of the highest quality consistent with the reputation, image
                and prestige of the Licensed Mark. Articles shall be
                distributed and sold with packaging and sales promotion
                materials appropriate for such highest quality products. The
                Parties agree that the Articles shall be of such premium
                quality, prestige and price similar to that of the Calvin Klein,
                Ralph Lauren (excluding Purple Label), and Perry Ellis
                fragrances as of the date of this Agreement.

         (ii)   All Articles shall be manufactured, labeled, sold, distributed
                and advertised in accordance with all applicable national, state
                and local laws and regulations.
<PAGE>

         (iii)  Licensee shall submit to Licensor the fragrance, scent,
                packaging and other material, designs, sketches, colors, tags,
                containers and labels (collectively, the "Approval Package"), as
                well as any materials utilizing the Licensed Mark or the Roddick
                Endorsement for Licensor's review and approval, such approval
                not to be unreasonably withheld or delayed. In the event
                Licensor does not respond to Licensee within ten (10) business
                days of Licensor's receipt of all items within the scope of the
                Approval Package, Licensee shall send Licensor written notice
                requesting such approval once again (the "Approval Request"). In
                the event Licensor does not respond to Licensee within three (3)
                business days of Licensor's receipt of the Approval Request, the
                items in such Approval Package shall be deemed approved.

         (iv)   During the term of this Agreement, upon Licensor's request,
                Licensee shall submit, free of charge to Licensor, then current
                production samples of each Article marketed. Production samples
                submitted by Licensee for this purpose may be retained by
                Licensor and Licensor will pay Licensee for any additional
                production samples Licensor requests and retains at prices equal
                to Licensee's actual costs. All Articles to be sold hereunder
                shall be at least equal in quality to the samples presented to
                Licensor. Licensor and its duly authorized representatives shall
                have the right, upon reasonable advance notice and during normal
                business hours, at Licensor's expense, to examine Articles in
                the process of being manufactured and to inspect all facilities
                utilized by Licensee in connection therewith.

B. Required Markings. Licensee shall cause to appear on all packaging of
Articles, (i) "the trademark, Andy Roddick is licensed to "Parlux Fragrances,
Inc."; and such additional legends, markings and notices complying with the
requirements of any law or regulation in the Territory and (ii) such legends,
markings and notices as Licensor, from time to time, may reasonably request.

C. Distribution. In order to maintain the reputation, image and prestige of the
Licensed Mark, Licensee's normal distribution patterns shall consist of those
retail establishments whose location, merchandising and overall operations are
consistent with the products described in paragraph A (i) of Article 7 above.

D. Sales Force. During the Term of this Agreement, Licensee shall maintain a
non-exclusive sales force suitable to carry out the purpose of this Agreement.

                                    ARTICLE 8
                  Guaranteed Minimum Royalty/Supply of Articles

         In consideration of both the license granted and the services to be
performed by Licensor hereunder, Licensee shall pay to Licensor a Guaranteed
Minimum Royalty as follows:

<PAGE>

Annual Period     Guaranteed Minimum Royalty (in USD$)

First (Execution through June 30, 2006)              *

Second (July 1, 2006 through June 30, 2007)          *

Third (July 1, 2007 through June 30, 2008)           *

Fourth (July 1, 2008 through June 30, 2009)          *

         The Guaranteed Minimum Royalty for each Annual Period shall be credited
against the Sales Royalty for only the same Annual Period as provided in Article
9 below. The Guaranteed Minimum Royalty payable for each Annual Period shall be
paid to Licensor in four equal quarterly installments for the corresponding
Annual Period on or prior to the 15th day of each, July, October, January and
April; except that, with respect to the first Annual Period, Licensee will pay *
to Licensor upon execution of this Agreement, which will be credited against the
Guaranteed Minimum Royalty due for the initial Annual Period. The Guaranteed
Minimum Royalty shall be made payable to "Andy R., Inc." and should be sent c/o
Andy R., Inc., 1499 Las Casas Road, Boca Raton, FL 33486 (Attn.: Jerry Roddick).

         The Guaranteed Minimum Royalty for each Annual Period in the renewal
term will be *.

         Additionally, throughout the Term of the Agreement, Licensee agrees to
supply to Licensor, at Licensee's expense, such quantities of Articles as it (or
Licensor's designated agent) may reasonably request for Roddick's own use.

                                    ARTICLE 9
                        Sales Royalty; Withholding Taxes

         Licensee shall pay to Licensor a sales royalty (the "Sales Royalty") on
each Annual Period's Net Sales of *. All Sales Royalties due Licensor hereunder
shall accrue upon the sale of the Articles. Regardless of time of collection by
Licensee, Articles shall be considered "sold" as of the date on which such
Articles are invoiced or shipped, whichever first occurs.

         The Sales Royalty hereunder shall be accounted for and paid quarterly
within forty-five (45) days after the close of each period ending September 30,
December 31 and March 31, and within sixty (60) days after June 30 during the
Term of this Agreement (or portion thereof in the event of prior termination for
any reason) (each such date, a "Payment Date"). The Sales Royalty payable for
each period during each Annual Period shall be computed on the basis of Net
Sales during such Annual Period, with a credit for any Guaranteed Minimum
Royalty and Sales Royalty payments made to Licensor for said Annual Period. The
Sales Royalty shall be made payable to "Andy R., Inc." and should be sent c/o
Andy R., Inc., 1499 las Casas Road, Boca Raton, FL 33486 (Attn.: Jerry Roddick).

<PAGE>

         If applicable, Licensee shall compute any payment, on behalf of
Licensor, for all taxes (other than United States income taxes) which any
governmental authority in the Territory may impose on Licensor with respect to
royalties paid by Licensee to Licensor. The amount of such taxes shall be
deducted from payments of royalties, provided that Licensor is entitled under
applicable law to credit the amount of such taxes against its United States
Federal Income Tax obligations. Licensee shall furnish Licensor with an official
receipt (together with a translation thereof if not in English) promptly after
each such payment of taxes. In the event such taxes are not paid when due, all
resulting penalties and interest shall be borne by Licensee.

                                   ARTICLE 10
                                   Advertising

         Licensee agrees to spend in the United States for Consumer Advertising
* of Net Sales from the just-completed Annual Period in such market during each
Annual Period. However, in the first Annual Period, Licensee agrees to spend in
the United States for "consumer advertising" no less than *.

         For the other markets in the Territory, Licensee or its distributors
will jointly spend not less than * of Net Sales from the just-completed Annual
Period in such markets during each Annual Period. However, in the first Annual
Period, Licensee agrees to spend in other markets in the Territory for Consumer
Advertising no less than *.

         It is understood that such required or actual spending shall not in any
way reduce Net Sales or Sales Royalties due hereunder or be used to satisfy or
offset any other obligation of Licensee hereunder.

         At Licensee's request, Licensor shall make up to three (3) appearances
during each of the first and second Annual Periods, and up to four (4)
appearances during each of the third and fourth Annual Periods to make himself
available at reasonable intervals and for reasonable periods of time solely for
promotional tie-ins serving to associate him with the Articles. Each appearance
shall be no longer than eight (8) consecutive hours in any 24-hour period, and
shall take place at mutually agreed upon dates, times and locations, and fully
subject to Roddick's obligations as a professional tennis player. It is agreed
that any unused appearances at the end of an Annual Period shall be waived and
shall not carry over to a subsequent Annual Period. Subject to Article 7,
Section A(iii), Licensee shall also be entitled to the use of the Roddick
Endorsement solely in connection with the advertising and promotion of the
Articles. Licensee further understands that its failure to utilize services of
Roddick hereunder shall not result in any reduction in payments to Licensor
hereunder. Licensor shall not be required to participate in any activities (i)
which are subject to federal or state security laws, (ii) which would impose a
fiduciary duty upon Licensor or Roddick to Licensee's shareholders, (iii) which
would cause Roddick to violate any laws, (iv) which would cause injury to

<PAGE>

Roddick, or (v) which may subject Roddick to public disrepute. Licensor shall
make every effort, in light of Roddick's busy schedule and tournament
commitments, at the reasonable and advance request of Licensee, to arrange for
cooperation for publicity photographs, launch parties, personal appearances and
radio and television interviews, and any such appearance in connection therewith
shall be counted as an appearance in connection with this Section. Licensee
shall arrange, pay for and provide Roddick with the reasonable costs involved in
connection with his providing his services herein, including, but not limited to
first-class travel (air and ground, including airport transfers), first class
lodging, food and other related expenses mutually agreed upon in advance of each
appearance attended at Licensee's request. The obligations of Licensor to
provide the services of Roddick hereunder are subject to the condition that
payments to Licensor are current and up to date and Licensee is not otherwise in
breach of any provisions of this Agreement. If Licensor confirms Roddick's
availability for any appearance and Roddick is unable to appear due to illness,
injury or other emergency, such non-appearance is not a breach of this Agreement
and neither Licensor nor Roddick shall be responsible for any expenses incurred
due to such non-appearance. In such event, Licensor and Licensee shall attempt
in good faith to reschedule the appearance date.

                                   ARTICLE 11
                   Sales Statement; Books and Records; Audits

A. Sales Statement. Licensee shall deliver to Licensor (including copies as set
forth below) on each Payment Date, a reasonably detailed report signed by a duly
authorized officer of Licensee indicating by quarter the Net Sales and a
computation of the amount of Sales Royalty payable hereunder for said period.
Such statement shall be furnished to Licensor whether or not any Articles have
been sold during the period of which such statement is due.

         Licensee shall deliver to Licensor, not later than ninety (90) days
after the close of each Annual Period during the Term of this Agreement (or
portion thereof in the event of prior termination for any reason), a statement
signed by a duly authorized officer relating to said entire Annual Period,
setting forth the same information required to be submitted by Licensee in
accordance with the first paragraph of this Article and also setting forth the
information concerning expenditures for the advertising and promotion of
Articles during such Annual Period required by Article 10 hereof.

B. Books and Records; Audits. Licensee shall prepare and maintain, in such
manner as will allow its accountants to audit same in accordance with generally
accepted accounting principles, complete and accurate books of account and
records (specifically including without limitation the originals or copies of
documents supporting entries in the books of account) in which accurate entries
will be made covering all transactions, including advertising expenditures,
arising out of or relating to this Agreement. Licensee shall keep separate
general ledger accounts for such matters that do not include matters or sales
related to this Agreement. Licensor and its duly authorized representatives
shall have the right, for the duration of this Agreement and for one (1) year

<PAGE>

thereafter, during regular business hours and upon seven (7) business days
advance notice (unless a shorter period is appropriate in the circumstances), to
audit said books of account and records and examine all other documents and
material in the possession or under the control of Licensee with respect to the
subject matter and the terms of this Agreement, including, without limitation,
invoices, credits and shipping documents, and to make copies of any and all of
the above. All such books of account, records, documents and materials shall be
kept available by Licensee for at least two (2) years after the end of the
Annual Period to which they relate.

         In the event that an error is discovered in the calculation of the
amounts payable to Licensor, the Party that received the benefit of the error
shall promptly thereafter pay to the other the amount of overpayment or
underpayment, as the case may be. If, as a result of any audit of Licensee's
books and records, it is shown that Licensee's payments were less than the
amount which should have been paid by an amount equal to * or more of the
payments actually made with respect to sales occurring during the period in
question, Licensee shall reimburse Licensor for the cost of such audit and shall
make all payments required to be made to eliminate any discrepancy revealed by
said audit within ten (10) days after Licensor's demand therefore.

                                   ARTICLE 12
                          Indemnification and Insurance

A. Indemnification of Licensor. Licensee hereby agrees to save and hold Licensor
and their agents harmless of and from and to indemnify them against any and all
claims, suits, injuries, losses, liability, demands, damages and expenses
(including, subject to subparagraph D below, Licensor's reasonable attorneys'
fees and expenses) which Licensor may incur or be obligated to pay, or for which
either may become liable or be compelled to pay in any action, claim or
proceeding against it, for or by reason of any acts, whether of omission or
commission, that may be committed or suffered by Licensee or any of its
servants, agents or employees in connection with Licensee's performance of this
Agreement, including but not limited to those arising out of the alleged defect
in any Article produced by Licensee under this Agreement, the manufacture,
labeling, sale, distribution or advertisement of any Article by Licensee in
violation of any national, state or local law or regulation or the breach of
Article 5 hereof and any breach of Licensee's representations, warranties and
obligations hereunder. The provisions of this paragraph and Licensee's
obligations hereunder shall survive the expiration or termination of this
Agreement.

B. Insurance Policy. Licensee shall procure and maintain at its own expense in
full force and effect at all times during which Articles are being sold, with a
responsible insurance carrier acceptable to Licensor, a public liability
insurance policy including products liability coverage with respect to Articles
with a limit of liability not less than Three Million U.S. Dollars
(USD$3,000,000). It shall be acceptable if such coverage is provided by a
product liability policy and an additional umbrella policy. Such insurance
policies shall be written for the benefit of Licensee and Licensor and shall
provide for at least thirty (30) days prior written notice to said Parties of

<PAGE>

the cancellation or substantial modification thereof. Licensor and Roddick shall
be each a named insured on each such policy. Such insurance may be obtained by
Licensee in conjunction with a policy which covers products other than Articles.

C. Evidence of Insurance. Licensee shall, from time to time upon reasonable
request by Licensor, promptly furnish or cause to be furnished to Licensor
evidence in form and substance satisfactory to Licensor of the maintenance of
the insurance required by subparagraph B above, including, but not limited to,
copies of policies, certificates of insurance (with applicable riders and
endorsements) and proof of premium payments. Nothing contained in this paragraph
shall be deemed to limit in any way the indemnification provisions of the
subparagraph A above.

D. Notice. Licensor will give Licensee notice of any action, claim, suit or
proceeding in respect of which indemnification may be sought and Licensee shall
defend such action, claim, suit or proceeding on behalf of Licensor. In the
event appropriate action is not taken by Licensee within thirty (30) days after
its receipt of notice from Licensor, then Licensor shall have the right, but not
the obligation, to defend such action, claim, suit or proceeding. Licensor may,
subject to Licensee's indemnity obligation under subparagraph A above, be
represented by its own counsel in any such action, claim, suit or proceeding. In
any case, the Licensor and the Licensee shall keep each other fully advised of
all developments and shall cooperate fully with each other in all respects in
connection with any such defense as is made. Nothing contained in this paragraph
shall be deemed to limit in any way the indemnification provisions of the
subparagraph A above except that in the event appropriate action is being taken
by Licensee by counsel reasonably acceptable to Licensor, with respect to any
non-trademark or intellectual property, action, claim, suit or proceeding.
Licensor shall not be permitted to seek indemnification from Licensee for
attorneys' fees and expenses incurred without the consent of Licensee. In
connection with the aforesaid actions, claims and proceedings, the Parties
shall, where no conflict of interest exists, seek to be represented by common
reasonably acceptable counsel. In connection with actions, claims or proceedings
involving trademark or other intellectual property matters which are subject to
indemnification hereunder, Licensor and/or Roddick shall at all times be
entitled to be represented by its/his own counsel, for whose reasonable fees and
disbursements it/he shall be entitled to indemnification hereunder.

                                   ARTICLE 13
                                The Licensed Mark

A. Licensee shall not join any name or names with the Licensed Mark so as to
form a new mark, unless and until Licensor consents thereto in writing. Licensee
acknowledges the validity of the Licensed Mark, the secondary meaning associated
with the Licensed Mark, and the rights of Licensor with respect to the Licensed
Mark in the Territory in any form or embodiment thereof and the goodwill
attached or which shall become attached to the Licensed Mark in connection with
the business and goods in relation to which the same has been, is or shall be
used. Sales by Licensee shall be deemed to have been made by Licensor for
purposes of trademark registration and all uses of the Licensed Mark by Licensee
shall inure to the benefit of Licensor. Licensee shall not, at any time, do or

<PAGE>

suffer to be done, any act or thing which may in any way adversely affect any
rights of Licensor in and to the Licensed Mark or any registrations thereof or
which, directly or indirectly, may reduce the value of the Licensed Mark or
detract from its reputation.

B. At Licensor's request, Licensee shall execute any documents, including
Registered User Agreements, reasonably required by Licensor to confirm the
respective rights of Licensor in and to the Licensed Mark in each jurisdiction
in the Territory and the respective rights of Licensor and Licensee pursuant to
this Agreement. Licensee shall cooperate with Licensor, in connection with the
filing and the prosecution by Licensor of applications to register or renew the
Licensed Mark for Articles sold hereunder in each jurisdiction in the Territory
where Licensee has reasonably requested the same. Such filings and prosecution
outside the United States shall be at the expense of Licensee (Licensee shall
pay for any application requested in advance) subject to a credit given on a
country by country basis for such payments against any royalties due Licensor
from sales derived in the particular country where the application was made.
Nothing contained herein shall obligate Licensor to prosecute any trademark
application outside the United States which is opposed or rejected in any
country after the application is filed, provided, however, that any such
prosecution shall go forward if (a) Licensee requests same; (b) Licensee pays
for same directly; and (c) such prosecution is in Licensor's name and directed
by Licensor. Licensor shall cooperate fully with any such prosecution. If the
prosecution fails, Licensee shall receive no credit for the monies it expended
in connection therewith; if the prosecution succeeds, Licensee shall be entitled
to receive a credit against any royalties due Licensor from sales derived in the
country of such prosecution.

C. Licensee shall use the Licensed Mark in each jurisdiction in the Territory
strictly in compliance with the legal requirements obtaining therein and shall
use such markings in connection therewith as may be required by applicable legal
provisions. Licensee shall cause to appear on all Articles and on all materials
on or in connection with which the Licensed Mark is used, such legends, markings
and notices as may be reasonably necessary in order to give appropriate notice
of any trademark, trade name or other rights therein or pertaining thereto.

D. Licensee shall never challenge the validity of the Licensed Mark or any
application for registration thereof, or any trademark registration hereof, or
any rights of Licensor therein. The foregoing shall not be deemed to prevent
Licensee from asserting, as a defense to a claim of breach of contract brought
against Licensee by Licensor for failure to perform its obligations hereunder,
that its ceasing performance under this Agreement was based upon Licensor's
failure to own or have the rights to license the Licensed Mark in the United
States of America, provided that it is established in a court of law that
Licensor does not own or have the rights to license the Licensed Mark, and that
the Licensed Mark is owned by a third party so as to preclude the grant of the
license provided herein.

<PAGE>

E. In the event that Licensee learns of any infringement or imitation of the
Licensed Mark or the Roddick Endorsement, or of any use by any person of a
trademark similar to the Licensed Mark or the Roddick Endorsement, Licensee
promptly shall notify Licensor thereof. In no event, however, shall Licensor be
required to take any action if Licensee deems the taking of action reasonably
inadvisable to do so.

         . Licensor shall not be required to protect, indemnify or hold Licensee
harmless against, or be liable to Licensee for, any liabilities, losses,
expenses or damages which may be suffered or incurred by Licensee as a result of
any infringement or allegation thereof by any other person, firm or corporation,
other than by reason of Licensor's breach of the representations made and
obligations assumed herein.

                                   ARTICLE 14
                              Defaults; Termination

A. The following conditions and occurrences shall constitute "Events of Default"
by Licensee:

         (i).    the failure to pay Licensor the full amount due it under any of
         the provisions of this Agreement by the prescribed date for such
         payment;

         (ii).   the failure to deliver full and accurate reports pursuant to
         any of the provisions of this Agreement by the prescribed due date
         therefore;

         (iii).  the making or furnishing of a knowingly false statement in
         connection with or as part of any material aspect of a report, notice
         or request rendered pursuant to this Agreement;

         (iv).   the failure to maintain the insurance required by Article 12;

         (v).    the use of the Licensed Mark or Roddick Endorsement in an
         unauthorized or unapproved manner;

         (vi).   Licensee's use of other trademarks or in association with the
         Articles, without prior written consent of Licensor;

         (vii).  the commencement against Licensee of any proceeding in
         bankruptcy, or similar law, seeking reorganization, liquidation,
         dissolution, arrangement, readjustment, discharge of debt, or seeking
         the appointment of a receiver, trustee or custodian of all or any
         substantial part of Licensee's property, not dismissed within sixty
         (60) days, or Licensee's making of an assignment for the benefit of
         creditors, filing of a bankruptcy petition, its acknowledgment of its
         insolvency or inability to pay debts, or taking advantage of any other
         provision of the bankruptcy laws;

         (viii). the material breach of any other material promise or agreement
         made herein.

<PAGE>

B. In the event Licensee fails to cure (i) an Event of Default within thirty
(30) days after written notice of default is transmitted to Licensee under
Article 14 A.3, A.5, A.6, or A.7; or (ii) Licensee fails to cure any other Event
of Default within sixty (60) days after written notice of default is transmitted
to Licensee or within such further period as Licensor may allow, this Agreement
shall, at Licensor's option, be terminated, on notice to Licensee, and all the
Guaranteed Minimum Royalties for the Term shall become due, without prejudice to
Licensor's right to receive other payments due or owing to Licensor under this
Agreement or to any other right of Licensor, including the right to damages
and/or equitable relief.

D. Upon the expiration or termination of this Agreement for any reason, in the
event this Agreement is not renewed as provided in Article 4 above, or in the
event of the termination or expiration of a renewal term of this Agreement,
Licensee, except as specified below, will immediately discontinue use of the
Licensed Mark and the Roddick Endorsement, will not resume the use thereof or
adopt any colorable imitation of the Licensed Mark or the Roddick Endorsement or
any of its parts, will promptly deliver and convey to Licensor (free of all
liens and encumbrances) (i) all plates, engravings, silk-screens, or the like
used to make or reproduce the Licensed Mark and the Roddick Endorsement and the
Designs, but not the bottle mold or tooling which Licensor shall be entitled to
purchase or recover as provided below; and (ii) all items affixed with likeness
or reproductions of the Licensed Mark and the Roddick Endorsement, whether
Articles, labels, bags, hangers, tags or otherwise, and, upon request by
Licensor, will assign to Licensor such rights as Licensee may have acquired in
the Licensed Mark and the Roddick Endorsement. In the event that this Agreement
expires or is terminated by Licensor due to Licensee's default, Licensor shall
have an option, but not an obligation, to purchase the bottle mold and tooling
for the Articles, free of all liens and other encumbrances, at a price equal to
Licensee's cost for same established by submission of bill(s) from supplier and
satisfactory proof of payment for same. Licensor shall pay such cost as follows:
fifty percent (50%) at closing and the balance paid by six (6) equal monthly
payments. Licensor shall, at the time it exercises its purchase option, enter
into a security agreement with Licensee with respect to the mold, which shall
entitle Licensee to foreclose on its security interest in the mold in the event
Licensor fails to make any installment payment due within fifteen (15) days
after receiving notice of default. Licensor shall exercise its aforesaid option
within thirty (30) days after Licensee's submission of documents establishing
cost. Notwithstanding the foregoing, if Licensor has terminated this Agreement
due to Licensee's default, Licensor, at its option, shall be entitled, in
exercising its purchase option, to deduct from the cost price an amount equal to
the Sales and Guaranteed Minimum royalties Licensor is entitled to recover, for
which deduction Licensee shall receive a credit. In the event Licensor exercises
its aforesaid option, Licensee shall be precluded forever from using the bottle
molds or tools and from selling or otherwise transferring or licensing any
rights whatsoever in the molds or tools to any third party. In the event that
Licensor does not exercise its aforesaid option, Licensee shall not use the
bottle molds or tools or sell or otherwise transfer or license any rights

<PAGE>

whatsoever in the bottle mold or tools to any third party for a period of two
(2) years after the determination of the fair market value. In the event of any
permitted use of the bottle mold and/or tools by Licensee, Licensee shall not
use in connection therewith the Licensed Mark, any trademark confusingly similar
thereto, any trade dress associated with the Articles, any advertising or
promotional materials used in connection with the Articles or any other markings
or materials which would cause a reasonable consumer to believe that any new
items sold using the bottle mold and tools are authorized by Licensor or in some
way associated with the Licensed Mark. Any permitted sale or license of the
bottle mold and/or tools by Licensee shall prohibit in writing the purchaser or
licensee from using the Licensed Mark, and confusingly similar trademark and any
such trade dress, advertising, promotional materials, markings or other
materials and shall expressly make Licensor a third party beneficiary of such
provision.

                                   ARTICLE 15
                       Rights on Expiration or Termination

A. If this Agreement expires or is terminated for any reason, Licensee shall
cease to manufacture Articles (except for work in progress or to balance
component inventory) but shall be entitled, for an additional period of one
hundred eighty (180) days only, on a non-exclusive basis (the "Sell-Off
Period"), to sell and dispose of its inventory of Articles and of related work
in progress then on hand (including any such items held by Subsidiaries,
Affiliates or others on behalf of Licensee) (hereinafter referred to as
"Inventory), subject, however, to the provisions of paragraph D of this Article.
Such sales shall be made subject to all of the provisions of this Agreement and
to an accounting for and the payment of Sales Royalty thereon, but not in
addition to the payment of Guaranteed Minimum Royalties. In the event of a
Sell-Off Period, Licensee shall supply Licensor with monthly accounting
statements and payments shall be made monthly.

B. In the event of termination in accordance with Article 14 above, Licensee
shall immediately pay to Licensor, the Sales Royalty then owed to it pursuant to
this Agreement.

C. Notwithstanding any termination in accordance with Article 14 above, Licensor
shall have and hereby reserve all rights and remedies which it has, or which are
granted to it by operation of law, to enjoin the unlawful or unauthorized use of
the Licensed Mark and the Roddick Endorsement, and to collect Sales Royalties
payable by Licensee pursuant to this Agreement and to be compensated for damages
for breach of this Agreement.

D. Upon the expiration or termination of this Agreement, Licensee shall deliver
to Licensor a complete and accurate schedule of Licensee's Inventory. Such
schedule shall be prepared as of the close of business on the date of such
expiration or termination and shall reflect Licensee's cost of each such item.
Notwithstanding anything contained to the contrary in this Agreement, Licensor
thereupon shall have the option, exercisable by notice in writing delivered to
Licensee within thirty (30) days after its receipt of the complete Inventory
schedule, to purchase any or all of the Inventory, free of all liens and other
encumbrances, for an amount equal to the lowest Licensee's selling price. In the
event such notice is sent by Licensor, Licensee shall deliver to Licensor or its
designee, at Licensor's sole cost and expense, all of the Inventory referred to

<PAGE>

therein within thirty (30) days after Licensor's said notice and, in respect of
any Inventory so purchased, assign to Licensor all then outstanding orders from
Licensee to its suppliers and to Licensee from its customers. Licensor shall pay
Licensee for such Inventory within twenty (20) days after the delivery of such
Inventory to Licensor. No Sales Royalty shall be payable to Licensor with
respect to any such inventory purchased by Licensor.

                                   ARTICLE 16
                          Sublicensing and Distribution

A. (i) The performance of Licensee hereunder is of a personal nature. Therefore,
neither this Agreement nor the license or other rights granted hereunder may be
assigned, sublicensed or transferred by Licensee, whether to a subsidiary or
Affiliate except as approved by Licensor in advance, in writing, which approval
will not be unreasonably denied.

         (ii) Consolidation. Notwithstanding anything contained to the contrary
in this Agreement, this Agreement shall not terminate if Licensee is merged or
otherwise consolidated into another entity which is the surviving entity of
equal or superior financial strength.

B. Licensee shall be entitled to use distributors in connection with its sale of
Articles under this Agreement without approval of Licensor. No such distributor,
however, shall be entitled to exercise any of Licensee's rights hereunder except
for the sale of Articles which have been approved by Licensor hereunder.

                                   ARTICLE 17
                                  Miscellaneous

A. Representations. The Parties respectively represent and warrant that they
have full right, power and authority to enter into this Agreement and perform
all of their obligations hereunder and that they are under no legal impediment
which would prevent their signing this Agreement or consummating the same.
Licensor represents and warrants that it has the right to license the Licensee
the Licensed Mark and that Licensor has not granted any other existing license
to use the Licensed Mark on products covered hereunder in the Territory and that
no such license will be granted during the Term of this Agreement except in
accordance with the provisions hereof.

B. Licensor's Rights. Not withstanding anything to the contrary contained in
this Agreement, Licensor shall not have the right to negotiate or enter into
agreements with third parties pursuant to which Licensor may grant a license to
use the Licensed Mark in connection with the manufacture, distribution and/or
sale of Articles in the Territory or provide consultation and design services
with respect to such Articles in the Territory prior to the termination or
expiration of this Agreement.

<PAGE>

C. Licensor's Retail Stores. In the event Licensor opens one or more retail
stores or boutiques selling various products bearing the Licensed Mark, or
desires to sell the Articles on Roddick's web site, Licensee agrees to sell
Articles to Licensor for sale in such stores at the product's United States
retail price less a sixty percent (60%) discount. Licensor will have the sole
responsibility to ship and bill for such sales through his web site. Licensee
further agrees that any sales pursuant to this paragraph shall be included in
the computation of Net Sales for any applicable Annual Period hereunder.

D. Governing Law; Entire Agreement. This Agreement shall be construed and
interpreted in accordance with the laws of the State of Florida applicable to
agreements made and to be performed in said State. This Agreement contains the
entire understanding and agreement between the Parties hereto with respect to
the subject matter hereof, supersedes all prior oral or written understandings
and agreements relating thereto and may not be modified, discharged or
terminated, nor may any of the provisions hereof be waived, orally.

E. No Agency. Nothing herein contained shall be construed to constitute the
Parties hereto as partners or as joint venturers, or either as agent of the
other, and licensee shall have no power to obligate or bind Licensor in any
manner whatsoever.

F. No Waiver. No waiver by either Party, whether express or implied, of any
provision of this Agreement, or of any breach or default thereof, shall
constitute a continuing waiver of such provision or of any other provision of
this Agreement. Acceptance of payments by Licensor shall not be deemed a waiver
by Licensor of any violation of or default under any of the provisions of this
Agreement by Licensee.

G. Void Provisions. If any provision or any portion of any provision of this
Agreement shall be held to be void or unenforceable, the remaining provisions of
this Agreement and the remaining portion of any provision held void or
unenforceable in part shall continue in full force and effect.

H. Construction. This Agreement shall be construed without regard to any
presumption or other rule requiring construction against the Party causing this
Agreement to be drafted. If any words or phrases in this Agreement shall have
been stricken out or otherwise eliminated, whether or not any other words or
phrases have been added, this Agreement shall be construed as if those words or
phrases were never included in this Agreement, and no implication or inference
shall be drawn from the fact that the words or phrases were so stricken out or
otherwise eliminated.

I. Force Majeure. Neither Party hereto shall be liable to the other for delay in
any performance or for the failure to render any performance under the Agreement
(other than payment to any accrued obligation for the payment of money) when
such delay or failure is by reason of lockouts, strikes, riots, fires,
explosions, blockade, civil commotion, epidemic, insurrection, war or warlike
conditions, terrorism or threat of terrorism, the elements, embargoes, act of
God or the public enemy, compliance with any law, regulation or other
governmental order, whether or not valid, or other similar causes beyond the
control of the party affected. The Party claiming to be so affected shall give
notice to the other Party promptly after it learns of the occurrence of said

<PAGE>

event and of the adverse results thereof. Such notice shall set forth the nature
and extent of the event. The delay or failure shall not be excused unless such
notice is so given. Notwithstanding any other provision of this Agreement,
either Party may terminate this Agreement if the other Party is unable to
perform any or all of its obligations hereunder for a period of six (6) months
by reason of said event as if the date of termination were the date set forth
herein as the expiration date hereof. If either Party elects to terminate this
Agreement under this paragraph, Licensee shall have no further obligations for
the Guaranteed Minimum Royalty beyond the date of termination (which shall be
prorated if less than an Annual Period is involved) and shall be obligated to
pay any Sales Royalty which is then due or becomes due.

J. Binding Effect. This Agreement shall inure to the benefit of and shall be
binding upon the Parties, their respective successors, Licensor's transferees
and assigns and Licensee's permitted transferees and assigns.

K. Resolution of Disputes. Any controversy or claim arising out of, in
connection with, or relating to this Agreement, shall be determined by
arbitration by a three person arbitration panel at the office of the American
Arbitration Association in Palm Beach County, Florida. Both Parties shall share
equally the cost of such arbitration (except each shall bear its own attorney's
fees). Any decision rendered by the arbitrators shall be final and binding, and
judgment may be entered in any court having jurisdiction.

L. Consolidation. Notwithstanding anything contained to the contrary in this
Agreement, this Agreement shall not terminate if Licensor is merged or otherwise
consolidated into another entity which is the surviving entity. Licensor shall
be entitled to assign this Agreement to any Corporation to which the Trademark
is assigned.

M. Survival. The provisions of Articles 11, 12A, 12D, 13, 15, 16, and 17 shall
survive any expiration or termination of this Agreement.

N. Paragraph Headings. The paragraph headings in this Agreement are for
convenience of reference only and shall be given no substantive effect.

                                   ARTICLE 18
                                     Notices

         Any notice or other communications required or permitted by this
Agreement to be given to a party will be in writing and will be considered to be
duly given when sent by certified mail or registered mail, return receipt
requested, to the Party concerned to the following persons or addresses (or to
such other persons or addresses as a Party may specify by notice to the other):

TO LICENSOR                          SFX Sports Group, Inc.
-----------
                                     2665 South Bayshore Drive, Suite 606
                                     Coconut Grove, FL  33133
                                     Attention: Kenneth Meyerson
<PAGE>

WITH  COPIES TO:                     Andy R., Inc.
----------------
                                     1499 las Casas Road
                                     Boca Raton, FL  33486
                                     Attn.:  Jerry Roddick
                                     and
                                     SFX Sports Group, Inc.
                                     5335 Wisconsin Avenue, NW
                                     Suite 850
                                     Washington, DC 20015
                                     Attn.: Donald Dell, Esq.

TO LICENSEE                          PARLUX FRAGRANCES, INC.
-----------
                                     3725 SW 30TH Avenue
                                     Ft. Lauderdale, FL, 33312
                                     Attention: Ilia Lekach
                                     Chairman & CEO
                                     Fax : (954)  316-8155

WITH A COPY TO:                      MITCHELL SCHRAGE & ASSOCIATES
---------------
                                     65 East 55th Street
                                     New York, NY 10022
                                     Attention: Mitchell R. Schrage, Esq.

         Notice of the change of any such address shall be duly given by either
party to the other in the manner herein provided.

LICENSEE
PARLUX FRAGRANCES, INC.

BY: /s/ Frank A. Buttacavoli                    Date:    12/09/2004
    --------------------------                  ----
   Frank A. Buttacavoli
   Exec. VP / COO / CFO

LICENSOR
ANDY R., INC.

BY: /s/ Jerry Roddick                           Date:      12/11/2004
   ---------------------------                  ----
   Jerry Roddick
   Vice PresidentEXHIBIT 10.70

         PURCHASE AND SALE AGREEMENT, dated January 6, 2005, by and between
Victory International (USA) LLC, a New Jersey limited liability company with an
office at 85 Newfield Avenue, Edison, New Jersey 08837 ("Seller") and Parlux
Fragrances, Inc., a Delaware corporation with an office at 3725 SW 30th Avenue,
Fort Lauderdale, Florida 33312 ("Buyer"). Capitalized terms used in this
Agreement and not otherwise defined herein shall have the respective meanings
assigned thereto in Appendix A.

                              W I T N E S S E T H:
                               - - - - - - - - - -

         WHEREAS, Seller owns or holds certain assets, including inventories,
technology, technical information, know-how, tools, dies, molds and contractual
rights used, useful or held for use in the manufacture and marketing of
cosmetics, fragrances and related products; and

         WHEREAS, Seller desires to sell to Buyer, and Buyer desires to purchase
from Seller, certain of the assets of Seller used, useful or held for use in the
manufacture and marketing of cosmetics, fragrances and related products as more
particularly defined herein and on the terms and conditions set forth herein;

         NOW, THEREFORE, in consideration of the premises, representations,
warranties, covenants and agreements contained herein and other good, valuable
and sufficient consideration, the receipt of which is hereby acknowledged,
Seller and Buyer (collectively, the "Parties" and each sometimes, individually,
a "Party"), intending to be legally bound, hereby agree as follows:

                Article 1 - PURCHASE AND SALE OF ASSETS; CLOSING

         .1 Closing. The closing of the transactions contemplated hereby (the
"Closing") shall take place at the offices of Kelley Drye & Warren LLP, 101 Park
Avenue, New York, New York 10178, or such other place as Seller and Buyer may
mutually agree, on January 6, 2005, or such other date as Seller and Buyer may
mutually agree, (the "Closing Date") and, subject to completion, shall be deemed
to have been consummated and become effective for all purposes as of 5:00 p.m.
on the Closing Date. Subject to the provisions of Article 7, failure to
consummate the purchase and sale provided for in this Agreement on the date and
at the time and place determined pursuant to this Article 1 will not result in
the termination of this Agreement and will not relieve any party of any
obligations under this Agreement.

         .2 Transfer of Assets. Subject to the terms and conditions set forth
herein, at the Closing Seller shall sell, assign, transfer and convey to Buyer,
and Buyer shall purchase and accept from Seller, all of Seller's right, title
and interest in and to the following assets, which are used or held for use by
Seller in connection with the manufacture and marketing of Products, with such
changes therein, additions thereto and deletions therefrom as may occur from the
date hereof through the Closing Date in the ordinary course of business or as
may be permitted or required pursuant to the terms hereof (collectively, the
"Purchased Assets"):

                  (i) the Molds;

                                       1
<PAGE>

                  (ii) the Inventory;

                  (iii) the Know-How;

                  (iv) the rights of Seller and its Affiliates in, to and under
         the Trademark License;

                  (v) the rights of Seller and its Affiliates in, to and under
         the Purchase Commitments; and

                  (vi) all customer and vendor lists of Seller which relate to
         the Products; and such other business and financial information
         relating exclusively to the Products as Seller may reasonably request.

         .3 Excluded Assets. Only those assets, rights, interests and properties
of Seller and its Affiliates which are expressly set forth in Article 1.2 are to
be sold, assigned, transferred and conveyed to Buyer hereunder, directly or
indirectly, and all other assets, rights, interests and properties of Seller and
its Affiliates shall be specifically excluded from the transactions contemplated
by this Agreement (collectively, the "Excluded Assets").

         .4 Consideration. In consideration for the sale, assignment, transfer
and conveyance of the Purchased Assets to Buyer by Seller in accordance with and
upon the terms and conditions set forth in this Agreement, Buyer shall (i) pay
to Seller a purchase price equal to the aggregate of (A) the Initial Inventory
Value, plus (B) the aggregate amount of $117,500 for the Pre-Paid Royalties,
plus (C) Two Hundred Thousand Dollars ($200,000.00) for the Molds, plus (D) Five
Million Eight Hundred Thousand Dollars ($5,800,000.00) for goodwill, (the
"Purchase Price"), and (ii) assume the Assumed Liabilities in accordance with
Article 1.6. The Purchase Price is subject to adjustment in accordance with the
provisions of Section 1.12.

         .5 Payment. Buyer shall pay the Purchase Price to Seller in the
following manner:

                  (a) Buyer shall pay to Seller in cash on the Closing Date by
wire transfer of immediately available funds to an account of Seller in
accordance with wire instructions to be provided to Buyer by Seller in writing
at least one (1) business day prior to the Closing ("Seller's Account") an
amount equal to the net amount of (i) the Initial Inventory value, plus (ii) the
aggregate amount $117,500.00 for the Pre-Paid Royalties, plus (iii) the amount
of $200,000.00 for the Molds.

                  (b) Buyer shall pay the balance of Five Million Eight Hundred
Thousand Dollars ($5,800,000.00) to Seller as follows:

                  (i) Buyer shall be credited with the amount of Seven Hundred
         Fifty Thousand Dollars ($750,000.00) previously paid to Seller as a
         good faith deposit hereunder on December 20, 2004;

                                       2
<PAGE>

                  (ii) Buyer shall pay the amount of Two Million Five Hundred
         Thousand Dollars ($2,500,000.00) to Seller in cash by wire transfer of
         immediately available funds to Seller's Account on the Closing Date;

                  (iii) Two Million Five Hundred Fifty Thousand Dollars
         ($2,550,000.00) as a promissory note payable to Seller in substantially
         the form of Annex B (the "Promissory Note").

         .6 Assumption of Certain Liabilities and Obligations by Buyer. Subject
to the provisions of Article 9, upon, from, and after the Closing, Buyer shall
assume and agree to pay, perform and discharge when due, and shall indemnify
Seller and its Affiliates against and hold them harmless from, the following,
and only the following, obligations and liabilities of Seller (the "Assumed
Liabilities"):

                  (a) all obligations of Seller under the Purchase Commitments
listed on Schedules 3.8(a) and 3.8(b) hereto, but excluding any obligations or
liabilities arising from claims of breach of, or otherwise arising out of but
not specifically set forth in, the Purchase Commitments and relating to the
period prior to the Closing Date (provided that Buyer will also assume up to
$75,000.00 in Purchase Commitments later identified by Seller but not listed on
Schedule 3.8(a) or 3.8(b)); and

                  (b) all obligations of Seller under the Trademark License, but
excluding any obligations or liabilities arising from claims of breach of, or
otherwise arising out of but not specifically set forth in, the Trademark
License and relating to the period prior to the Closing Date.

Notwithstanding anything to the contrary in this Section 1.6 above, or in
Section 1.7 below, Seller and Buyer agree that Seller will be responsible for
all demonstration expenses related to retail sales for the period through
January 31, 2005 and that Buyer will be responsible for all such expenses for
the period after such date.

         .7 Retained Liabilities. Except as expressly provided in Article 1.6,
Seller or its Affiliates, as the case may be, shall, without any responsibility
or liability of, or recourse to, Buyer, absolutely and irrevocably retain and be
solely liable and responsible for any and all Liabilities of any kind or nature
asserted against or incurred or sustained by Buyer rising out of, related to, or
associated with Seller, or any Affiliate of Seller, the business of Seller or
its Affiliates (including, without limitation the ownership, leasing or use of
the Purchased Assets), whether foreseen or unforeseen, known or unknown,
existing or which may arise in the future, fixed or contingent, matured or
unmatured, regardless of whether they are reflected in any of the Schedules
attached hereto, regardless of whether they arise out of, relate to, or are
associated with events occurring or circumstances existing before or after the
Closing, regardless of whether they are asserted, incurred, or sustained, before
or after the Closing, regardless of when they became fixed or known, regardless
of whom they are asserted by or against, regardless of where they are asserted,
incurred, or sustained, and regardless of whether they arise out of, relate to,
or are associated with, health, safety, the environment, personal injury,
contracts, property damage, employment, negligence, recklessness, violation of
law, rule or regulation, misrepresentation, strict liability or product

                                       3
<PAGE>

liability including, without limitation, all liabilities for product liability
claims relating to Products manufactured by Seller on or prior to the Closing
Date (collectively, the "Retained Liabilities").

         .8 Closing Obligations and Deliveries of Seller. At the Closing, Seller
shall deliver, or cause to be delivered, to Buyer:

                  (a) one fully executed (including by Global) Assignment and
Assumption Agreement related to the Trademark License in substantially the form
of Annex A; and

                  (b) one executed Bill of Sale and Assignment, in form
acceptable to Buyer, with respect to the Molds, the Inventory, the Know-How, the
rights of Seller and its Affiliates under the Purchase Commitments and any other
Purchased Assets;

                  (c) the certificate of an officer of Seller provided for in
Articles 5(iii) and 5(v).

         .9 Closing Obligations and Deliveries of Buyer. At the Closing, Buyer
shall deliver, or cause to be delivered, to Seller:

                  (a) one executed Assignment and Assumption Agreement related
to the Trademark License in substantially the form of Annex A;

                  (b) one executed Assumption Agreement, in a form acceptable to
Seller, with respect to the Purchase Commitments;

                  (c) the certificate of an officer of Buyer provided for in
Articles 6(iii) and 6(v);

                  (d) those portions of the Purchase Price which are payable at
Closing in accordance with the provisions of Article 1.5; and

                  (e) the Promissory Note.

         .10 Recording of Documents. Buyer shall be responsible, at Buyer's sole
cost and expense, for the filing or recording of such deeds, assignments,
instruments or documents delivered by Seller hereunder, however effected, and
for the preparation and recording of such additional assignments, instruments or
documents as may be necessary or appropriate to perfect Buyer's right or title
to, or interest in, the Purchased Assets.

         .11 Assignment of Assets.

                  (a) Nonassignability. To the extent that any Purchased Asset
described in Article 1.2 to be sold, assigned, transferred or conveyed to Buyer,
or any claim, right or benefit arising thereunder or resulting therefrom (the
"Interests"), is not capable of being assigned, transferred or conveyed without
the Consent of any other party thereto (including any Governmental
Authorization), or if such assignment, transfer or conveyance or attempted
assignment, transfer or conveyance would constitute a breach thereof, this
Agreement shall not constitute an assignment, transfer or conveyance thereof, or

                                       4
<PAGE>

an attempted assignment, transfer or conveyance thereof, until such obstacles
have been removed.

                  (b) Reasonable Efforts. Notwithstanding anything in this
Agreement to the contrary, neither Seller nor any of its Affiliates is obligated
to assign, transfer or convey to Buyer any of its rights and obligations in and
to any of the Interests without first obtaining all necessary Consents. Seller
shall use all reasonable efforts, and Buyer shall cooperate with Seller and its
Affiliates, to obtain all necessary Consents, or to resolve any
impracticabilities of, or impediments or threatened impediments to, transfer
referred to in Article 1.11(a), necessary to convey to Buyer each such Interest
as soon as reasonably practicable.

                  (c) If Consents Cannot be Obtained. To the extent any of the
Consents referred to in Article l.11(a) have not been obtained as of the
Closing, or until any impracticabilities of, or impediments to, transfer
referred to in Article 1.11(a) are resolved, Seller shall use all reasonable
efforts (at its sole cost and expense) during the remaining term of such
Interest to: (i) obtain the Consent of any such third party; (ii) cooperate with
Buyer in any reasonable and lawful arrangements designed to provide the benefits
of such Interest to Buyer (including, but not limited to, continued performance
by Seller or its Affiliate of a contractual obligation or service for the
benefit of Buyer until required Consents for the transfer of that contract or
service to Buyer are obtained and effected) so long as Buyer fully cooperates
with Seller and such Affiliate in such arrangements (including reimbursement for
expenses and the granting of any required subcontracts or authorization by Buyer
to enable Seller or such Affiliate to so perform) and (iii) enforce, or cause to
be enforced, at the request of Buyer and at the expense and for the account of
Buyer, any rights of Seller or any of its Affiliates arising from such Interest
against any other party or parties thereto (including the right to elect to
terminate any such Interest in accordance with the terms thereof upon the advice
of Buyer).

         .12 Adjustment to Purchase Price. The Purchase Price shall be subject
to adjustment only in accordance with the provisions of this Section 1.12.

                  (a) The Inventory has been valued at One Million Three Hundred
Forty One Thousand Eight Hundred Seventy Seven Dollars ($1,341,877) (the
"Initial Inventory Value") based upon the Inventory expected to be existing and
on hand at the Closing. The Purchase Price shall be adjusted up or down after
the Closing by the difference, if any, between the Initial Inventory Value and
the value of the Inventory determined in accordance with this Section 1.12 (the
"Final Inventory Value").

                  (b) Seller shall make all such Inventory available at Seller's
warehouse for loading onto Buyer's selected mode of transportation as of the
opening of business on a date to be mutually agreed by Buyer and Seller which
date shall be no later than fourteen (14) days following the Closing Date. Such
persons as designated by Seller and to whom Buyer has no reasonable objection
(with the right in Buyer to designate a person or persons to observe to whom
Seller has no reasonable objection) shall conduct a physical count of the
Inventory simultaneously with the loading. All Inventory in the hands of third
persons will be verified by Seller (and, if so desired by Buyer, a

                                       5
<PAGE>

representative of Buyer) and included as part of the Final Inventory Value. If,
at the time of the physical count, there is significant physical damage or
deterioration to specific Inventory items, such items will be excluded from the
physical count. All other Inventory items will be included in the physical count
and recognized as part of the Final Inventory Value. Seller shall determine the
Final Inventory Value based on such physical count in accordance with Section
1.12(c) below and shall prepare and deliver to Buyer within thirty (30) days
following the Closing Date a written statement stating such Final Inventory
Value and the difference between such Final Inventory Value and the Initial
Inventory Value.

                  (c) The Final Inventory Value will be calculated by Seller as
follows: (i) raw materials valued at Seller's actual cost determined on a FIFO
basis; (ii) work-in-process and finished goods Inventory valued at the standard
costs therefor as set forth on Schedule 3.6 and (iii) all other Inventory,
valued at Seller's actual cost determined on a FIFO basis.

                  (d) Within fourteen (14) days of receipt by Buyer of the
written statement to be provided by Seller pursuant to Article 1.12(b), if the
Final Inventory Value is greater than the Initial Inventory Value, the Buyer
shall promptly pay to the Seller the difference in immediately available funds
by wire transfer to Seller's Account, and if the Final Inventory Value is less
than the Initial Inventory Value, Buyer shall have an automatic right of set-off
against the Purchase Price and may set-off the difference in accordance with
Article 9.6.

           Article 2 - REPRESENTATIONS AND WARRANTIES REGARDING BUYER

         .1 Organization. Buyer is a corporation duly organized and validly
existing under the laws of the State of Delaware. Buyer has all corporate power
and authority necessary to (i) execute, deliver and perform its obligations
under this Agreement and (ii) consummate the transactions contemplated hereby.

         .2 Authorization. The execution and delivery by Buyer of this
Agreement, the performance by Buyer of its obligations hereunder and the
consummation by Buyer of the transactions contemplated hereby have been duly
authorized by all necessary corporate action on the part of Buyer. This
Agreement constitutes a legal, valid and binding obligation of Buyer,
enforceable against Buyer in accordance with its terms.

         .3 No Breach. The execution and delivery by Buyer of this Agreement,
the performance by Buyer of its obligations hereunder and the consummation by
Buyer of the transactions contemplated hereby will not (i) conflict with, result
in any violation of or constitute a default under the Organizational Documents
of Buyer, (ii) constitute a default under, result in a violation or breach of,
result in the cancellation or termination of, accelerate the performance
required under, or result in the creation of any Encumbrance upon any of the
properties of Buyer pursuant to, any Contract to which Buyer is a party or by
which any of such properties is bound or (iii) result in a violation of, or
conflict with, any Legal Requirement or Order applicable to Buyer or any of its
properties.

         .4 Consents. No consent, approval, exemption or authorization is
required to be obtained from, no notice is required to be given to, and no
filing is required to be made with, any third party (including, without
limitation, any Governmental Authority) by Buyer in order (i) for this Agreement
to constitute a legal, valid and binding obligation of Buyer or (ii) to

                                       6
<PAGE>

authorize or permit the consummation by Buyer of the transactions contemplated
hereby.

          Article 3 - REPRESENTATIONS AND WARRANTIES REGARDING SELLER

         .1 Organization and Authorization. Seller is a limited liability
company duly organized, validly existing and in good standing under the laws of
the State of New Jersey. Seller has all limited liability company power and
authority necessary to (i) execute, deliver and perform its obligations under
this Agreement, and (ii) consummate the transactions contemplated hereby. The
execution and delivery by Seller of this Agreement, the performance by Seller of
its obligations hereunder and the consummation by Seller of the transactions
contemplated hereby have been duly authorized by all necessary limited liability
company action on the part of Seller. This Agreement constitutes a legal, valid
and binding obligation of Seller, enforceable against Seller in accordance with
its terms.

         .2 No Breach. The execution and delivery by Seller of this Agreement,
the performance by Seller of its obligations hereunder and the consummation by
Seller of the transactions contemplated hereby will not, directly or indirectly,
(with or without notice or lapse of time) (i) contravene, conflict with, result
in a violation or breach of, or constitute a default under, the Organizational
Documents of Seller, (ii) contravene, constitute a default under, result in a
violation or breach of, result in the cancellation or termination of, accelerate
the performance required under, or result in the creation of, any Encumbrance
upon any of the properties of Seller, pursuant to any Contract to which Seller
is a party or by which any of such properties is bound, (iii) contravene,
conflict with, or result in a violation of, or give any Governmental Authority
or other person the right to challenge any of the transactions contemplated
hereby or thereby, or to exercise any remedy, or obtain any relief, under any
Legal Requirement or any Order to which Seller, or any of the Purchased Assets
may be subject.

         .3 Consents. Except as set forth on Schedule 3.3, no consent, approval,
exemption or authorization is required to be obtained from, no notice is
required to be given to, and no filing is required to be made with, any third
party (including, without limitation, any Governmental Authority) by Seller in
order (i) for this Agreement to constitute a legal, valid and binding obligation
of Seller or (ii) to authorize or permit the consummation by Seller of the
transactions contemplated hereby.

         .4 Standard Costs. The Seller's standard costs relating to the Products
set forth on Schedule 3.6, are true and correct and consistent with Seller's
past practices.

         .5 Molds. Schedule 3.5 contains a true, correct and complete list of
all Molds owned or used by Seller in connection with the manufacture or
marketing of Products and sets forth the current location of each. The Molds
constitute all such devices or similar items necessary for the manufacture or
marketing of Products on a basis consistent with the kind, quality and
quantities previously manufactured and marketed by Seller. All Molds are in good
operating condition, reasonable wear and tear excepted, and are suitable for the
manufacture of the Products.

                                       7
<PAGE>

         .6 Inventory. Schedule 3.6 contains a true, correct and complete list
of Seller's Inventory related to each of the Products. All items of Inventory
are in good and merchantable condition, of first quality and in conformance to
the specifications for such Products, saleable or usable in the ordinary course
of business for the purposes for which intended and have been carried on the
books and records of Seller on a consistent basis.

         .7 Title to Owned Properties. Seller has good and marketable title to
all of the Purchased Assets, free and clear of all Encumbrances.

         .8 Purchase Commitments. Except as provided in Section 1.6(a), Schedule
3.8(a) contains a true, correct and complete list of all Purchase Commitments
related to Inventory and Schedule 3.8(b) hereto contains a true and correct list
of all Purchase Commitments related to items other than Inventory. Seller has
previously delivered or caused to be delivered to Buyer a true, correct and
complete copy of each Purchase Commitment.

         .9 Performance Under Purchase Commitments. All of the Purchase
Commitments are legal, valid, and binding upon the parties thereto in accordance
with their respective terms and are in full force and effect. Seller is not in
breach or default, nor has it received notice of any default or any event which,
with or without notice or lapse of time, would constitute a breach or default by
Seller, under any such Purchase Commitment. To Seller's knowledge, none of the
other parties to any such Purchase Commitment is in breach or default
thereunder. To Seller's knowledge, there does not exist any condition nor has
there occurred any event which, with or without notice or lapse of time, would
constitute a breach or default under any such Purchase Commitment. There is no
reasonable basis for any party to such Purchase Commitment to make any claim
against Buyer with respect to any such Purchase Commitment to the extent the
same relates to the period prior to the Closing Date.

         .10 Intellectual Property.

                  (a) Seller has previously delivered to Buyer a true, correct
and complete copy of the Trademark License. Seller has performed all of its
obligations under, and is in full compliance with, the Trademark License and the
license provided for therein remains in full force and effect. Seller has not
received notice from Global to the contrary. Through the date hereof, Seller has
paid to the Licensor under the Trademark License at least $307,500 as Guaranteed
Minimum Royalties thereunder.

                  (b) To Seller's knowledge, the manufacture and marketing of
the Products as presently conducted by Seller and its Affiliates does not
violate, conflict with or infringe in any respect the Intellectual Property of
any other Person. No claims are pending or threatened against Seller or any of
its Affiliates by any person with respect to the ownership, validity,
enforceability, effectiveness or use of the Licensed Trademarks. Neither Seller
nor any of its Affiliates has received any written or oral communication
alleging that Seller or any such Affiliate has in the conduct of its business
related to the Products, violated any rights relating to Intellectual Property
of any person.

                                       8
<PAGE>

         .11 Proceedings; Orders. There are no Proceedings or Orders presently
outstanding, pending or, to Seller's knowledge, threatened against Seller which
relate in any way to the Licensed Trademarks or the Products.

         .12 Health and Safety Conditions. Schedule 3.12 sets forth or describes
in reasonable detail all relevant facts pertaining to the substance of, or
Seller has delivered, or caused to be delivered, to Buyer, copies of all current
safety data sheets relating to the Products and the chemical substances or
mixtures currently used by Seller in the manufacture of Products.

         .13 Full Disclosure. Neither this Agreement nor any agreement,
document, instrument, certificate or statement made or furnished to Buyer in
connection with this Agreement and the transactions contemplated hereby or
thereby contains any untrue statement of a material fact or omits the statement
of a material fact required to be stated in order to make the statements
contained herein and therein not misleading.

                       Article 4 - Pre-Closing Covenants

         .1 Conduct By Buyer. From the date hereof until the Closing, Buyer
shall not take any action which would cause any representation or warranty
contained in Article 2 hereof to be untrue or incorrect in any respect as of the
Closing.

         .2 Conduct by Seller. From the date hereof until the Closing, Seller
shall not take any action which would cause any representation or warranty
contained in Article 3 hereof to be untrue or incorrect in any respect as of the
Closing.

         .3 Conduct of the Business. From the date hereof until the Closing,
Seller shall:

                  (i) maintain levels of Inventory of each of the Products
         consistent with past practice;

                  (ii) notify Buyer of the occurrence of any event or the
         existence of any condition which would have been required to be
         disclosed on the date hereof in order to make the representations and
         warranties contained in Article 3 hereof true and correct had such
         event then occurred or condition then existed; and

                  (iii) use its best efforts to preserve its business of
         manufacturing and marketing Products intact and preserve for Buyer the
         goodwill of the suppliers, distributors, customers and others having a
         business relationship with Seller with respect to the Products.

         .4 Fulfillment of Conditions. Each Party shall use all reasonable
efforts to fulfill or cause to be fulfilled the conditions set forth in Articles
5 and 6 hereof.

                                       9
<PAGE>

                   Article 5 - BUYER'S CONDITIONS TO CLOSING

         The obligations of Buyer to consummate the transactions contemplated
hereby are, unless waived by Buyer, subject to the fulfillment, at or before the
Closing, of each of the following conditions:

                  (i) No Legal Requirement of a Governmental Authority shall be
         in effect which prohibits, restricts or enjoins or otherwise materially
         adversely affects the consummation of the transactions contemplated by
         this Agreement.

                  (ii) No Proceeding shall be pending or threatened (A) which
         seeks to prohibit, restrict, enjoin, nullify, seek material damages
         with respect to, or otherwise materially adversely affect the
         consummation of the transactions contemplated by this Agreement or (B)
         which if adversely determined would materially and adversely affect the
         value of the Purchased Assets or materially and adversely interfere
         with the ability of Buyer to manufacture and market the Products under
         the Licensed Trademarks.

                  (iii) Each representation and warranty of Seller set forth in
         this Agreement shall be true and correct as of the date hereof and as
         of the Closing Date as though made on and as of the Closing Date,
         except that, representations and warranties that by their terms speak
         only as of the date hereof or some other specific date need be true and
         correct only as of such date, and Seller shall have delivered to Buyer
         a certificate approved by Buyer dated the Closing Date executed by a
         duly authorized officer of Seller to such effect.

                  (iv) Seller shall have obtained, or to the reasonable
         satisfaction of Buyer obviated the need to obtain, all Consents and
         Governmental Authorizations, if any, required to consummate the
         transactions contemplated by this Agreement.

                  (v) Seller shall have performed and complied with all
         covenants and agreements required to be performed or complied with by
         Seller under this Agreement prior to or concurrently with the Closing,
         and Seller shall have delivered to Buyer a certificate approved by
         Buyer dated the Closing Date executed by a duly authorized officer of
         Seller to such effect.

                  (vi) Buyer shall have received all certificates and other
         documents required to be delivered to Buyer at or before the Closing
         pursuant to this Agreement duly executed by all necessary persons
         (other than Buyer).

                  (vii) Global shall have executed and delivered to Buyer an
         amendment to the Trademark License to delete the existing clause (i)
         and the existing final sentence of Section 2.2(d), both relating to the
         services of Alan Greco.

                                       10
<PAGE>

                   Article 6 - SELLER'S CONDITIONS TO CLOSING

         The obligations of Seller to consummate the transactions contemplated
hereby are, unless waived by Seller, subject to the fulfillment, at or before
the Closing, of each of the following conditions:

                  (i) No Legal Requirement of a Governmental Authority shall be
         in effect which prohibits, restricts or enjoins or otherwise materially
         adversely affects the consummation of the transactions contemplated by
         this Agreement.

                  (ii) No suit, action or proceeding shall be pending or
         threatened which seeks to prohibit, restrict, enjoin, nullify, seek
         material damages with respect to, or otherwise materially adversely
         affect the consummation of the transactions contemplated by this
         Agreement.

                  (iii) Each representation and warranty of Buyer set forth in
         this Agreement shall be true and correct as of the date hereof and as
         of the Closing Date as though made on and as of the Closing Date,
         except that, representations and warranties that by their terms speak
         only as of the date hereof or some other specific date need be true and
         correct only as of such date, and Buyer shall have delivered to Seller
         a certificate dated the Closing Date executed by a duly authorized
         officer of Buyer to such effect.

                  (iv) Seller shall have obtained all Consents and Governmental
         Authorizations, if any, required to consummate the transactions
         contemplated by this Agreement.

                  (v) Buyer shall have performed and complied with all covenants
         and agreements required to be performed or complied with by Buyer under
         this Agreement prior to or concurrently with the Closing and Buyer
         shall have delivered to Seller a certificate, dated the Closing Date,
         executed by a duly authorized officer of Buyer to such effect.

                  (vi) Seller shall have received all certificates and other
         documents required to be delivered to Seller at or before the Closing
         pursuant to this Agreement duly executed by all necessary persons
         (other than Seller).

                  (vii) Seller shall have received those portions of the
         Purchase Price payable at Closing in accordance with Article 1.5
         hereof.

                  (viii) Seller shall have received the Promissory Note.

                 Article 7 - TERMINATION; SURVIVAL OF AGREEMENT

         .1 Termination. Notwithstanding anything contained herein to the
contrary, this Agreement may be terminated:

                  (i) at the Closing or at any time prior thereto, by mutual
         written consent of Seller and Buyer;

                                       11
<PAGE>

                  (ii) at the Closing, by Buyer, if any of the conditions set
         forth in Article 5 hereof shall not have been fulfilled and shall not
         have been waived by Buyer at or prior to the Closing;

                  (iii) at the Closing, by Seller, if any of the conditions set
         forth in Article 6 hereof shall not have been fulfilled and shall not
         have been waived by Seller at or prior to the Closing.

                Article 8 - TAX MATTERS; POST-CLOSING COVENANTS

         .1 Transactional Taxes. Seller shall be responsible for Transactional
Taxes. If Buyer shall be required to pay any of the Transactional Taxes, Seller
shall promptly reimburse Buyer therefor. Seller shall indemnify Buyer for, and
shall hold Buyer harmless from, any and all Liabilities asserted against or
incurred or sustained by Buyer relating to Transactional Taxes pursuant to the
procedure set forth in Article 9.5 hereof.

         .2 Further Assurances. At any time and from time to time after the
Closing, the Parties shall execute, deliver and acknowledge such other documents
and instruments of transfer, assignment or conveyance and do such further acts
and things as may be reasonably required in order to consummate the transactions
contemplated hereby.

            Article 9 - SURVIVAL OF REPRESENTATIONS; INDEMNIFICATION

         .1 Survival of Representations and Covenants of Buyer. The
representations and warranties of Buyer set forth in Article 2 hereof shall
survive the execution, delivery and performance of this Agreement and the
consummation of the transactions contemplated hereby for a period of twelve (12)
months and shall then expire.

         .2 Survival of Representations and Covenants of Seller. The
representations and warranties of Seller set forth in Article 3 hereof shall
survive the execution, delivery and performance of this Agreement and the
consummation of the transactions contemplated hereby for a period of twelve (12)
months and shall then expire, except for the representations and warranties in
Section 3.7 which shall survive indefinitely.

         .3 Indemnification by Buyer. Subject to Articles 9.5 and 18 hereof,
Buyer shall indemnify Seller for, and shall hold Seller harmless from, any and
all Liabilities asserted against or incurred or sustained by Seller arising out
of, related to or associated with (i) any breach of any covenant or agreement
contained in this Agreement by Buyer, (ii) any breach by Buyer of any of the
warranties or representations set forth in Article 2 hereof or (iii) any of the
Assumed Liabilities.

         .4 Indemnification by Seller. Subject to Articles 9.5 and 18 hereof,
Seller shall indemnify Buyer for, and shall hold Buyer harmless from, any and
all Liabilities asserted against or incurred or sustained by Buyer arising out
of: (i) any breach of any covenant or agreement contained in this Agreement by
Seller; (ii) any breach by Seller of any of the warranties or representations
set forth in Article 3 hereof, (iii) any of the Retained Liabilities.

                                       12
<PAGE>

         .5 Indemnification Procedure.

                  (a) Indemnitee shall promptly give the Indemnitor written
notice of any Loss (as defined in Article 9.5(b) hereof) which the Indemnitee
has determined has given or could give rise to a claim for indemnification
hereunder (a "Notice of Claim"). A Notice of Claim shall specify in reasonable
detail the nature and all known particulars related to a Loss. The Indemnitor
shall perform its indemnification obligations in respect of a Loss described in
a Notice of Claim under Articles 9.3 or 9.4 hereof, as the case may be, within
thirty (30) days after the Indemnitor shall have received such Notice of Claim;
provided, however, such obligation shall be suspended so long as the Indemnitor
is in good faith performing its obligations under Article 9.5(c) hereof with
respect to such Loss.

                  (b) As used in this Article 9.5, the term "Loss" shall mean a
liability described in Article 8.1, 9.3, or 9.4 hereof, or a fee, commission,
compensation or payment described in Article 11.1, as the case may be.

                  (c) With respect to a Loss (i) which constitutes a third party
claim, demand, suit, action or proceeding, (ii) which is the subject of a Notice
of Claim, (iii) which is a Liability solely for money damages and (iv) in
respect of which the Indemnitor shall have given written notice to the
Indemnitee acknowledging an indemnification obligation under Article 9.3 or 9.4
hereof, as the case may be, the Indemnitor shall have the sole and exclusive
right and obligation, in good faith and at its own cost and expense, to defend,
contest or otherwise oppose any third party claim, demand, suit, action or
proceeding which gives rise to a Loss in respect of which a Notice of Claim has
been given with legal counsel selected by it. The Indemnitor shall (i) promptly
inform the Indemnitee of all material developments related to any such event or
circumstance and (ii) inform the Indemnitee promptly after the Indemnitor has
made a good faith determination, based on the facts alleged in such Notice of
Claim or which have otherwise become known to the Indemnitor, either that the
Indemnitor acknowledges that it has an indemnification obligation hereunder in
respect of such Loss or that the Indemnitor has made a good faith determination
that it has no indemnification obligation hereunder in respect of such Loss.
Notwithstanding anything contained herein to the contrary, the Indemnitee shall
have the right, but not the obligation, to participate, at its own cost and
expense, in the defense, contest or other opposition of any such third party
claim, demand, suit, action or proceeding through legal counsel selected by it
and shall have the right, but not the obligation, to assert any and all
cross-claims or counterclaims which it may have. So long as the Indemnitor is in
good faith performing its obligations under this Article 9.5(c), the Indemnitee
shall (i) at all times, at its own cost and expense, cooperate in all reasonable
ways with, make its relevant files and records available for inspection and
copying by, make its employees reasonably available to and otherwise render
reasonable assistance to the Indemnitor upon request and (ii) not compromise or
settle any such claim, demand, suit, action or proceeding without the prior
written consent of the Indemnitor. If the Indemnitor fails to perform its

                                       13
<PAGE>

obligations under this Article 9.5(c), or if the Indemnitor shall have informed
the Indemnitee in writing in accordance with the second sentence of this Article
9.5(c) that the Indemnitor does not have an indemnification obligation hereunder
in respect of such Loss, then the Indemnitee shall have the right, but not the
obligation, to take the actions which the Indemnitor would have had the right to
take in connection with the performance of such obligations and, if the
Indemnitee is entitled to indemnification hereunder in respect of the event or
circumstance as to which the Indemnitee takes such actions, then the Indemnitor
shall, in addition to indemnifying Indemnitee for the Loss, indemnify the
Indemnitee for all of the legal, accounting and other costs, fees and expenses
reasonably and actually incurred in connection therewith. If the Indemnitor
proposes to settle or compromise any such third party action, demand, claim,
suit or proceeding, the Indemnitor shall give written notice to that effect
(together with a statement in reasonable detail of the terms and conditions of
such settlement or compromise) to the Indemnitee a reasonable time prior to
effecting such settlement or compromise. Notwithstanding anything contained
herein to the contrary, the Indemnitee shall have the right (i) to object to the
settlement or compromise of any such third party action, demand, claim, suit or
proceeding whereupon (A) the Indemnitee will assume the defense, contest or
other opposition of any such third party action, demand, claim, suit or
proceeding for its own account and as if it were the Indemnitor and (B) the
Indemnitor shall be released from any and all liability with respect to any such
third party action, demand, claim, suit or proceeding to the extent that such
liability exceeds the liability which the Indemnitor would have had in respect
of such a settlement or compromise, or (ii) to assume, at any time by giving
written notice to that effect to the Indemnitor, the cure, mitigation,
remediation, remedy or other handling of such event or circumstance and the
defense, contest or other opposition of any such third party action, demand,
claim, suit or proceeding for its own account whereupon the Indemnitor shall be
released from any and all liability with respect to such event or circumstance
and such third party action, demand, claim, suit or proceeding.

                  (d) Notwithstanding anything contained herein to the contrary,
each Party shall use, and shall cause its subsidiaries and Affiliates to use,
all reasonable efforts to mitigate any and all damages, losses, liabilities,
costs and expenses in respect of which it may be entitled to indemnification
hereunder.

         .6 Right of Set-Off. Upon notice to Seller specifying in reasonable
detail the basis for such set-off, Buyer may set off any amount to which it may
be entitled under Article 1.12(d) and under this Article 9 against amounts
otherwise payable under the Promissory Note. The exercise of such right of
set-off by Buyer in good faith, whether or not ultimately determined to be
justified, will not constitute an event of default under the Promissory Note or
any instrument securing a Promissory Note. Neither the exercise of, nor the
failure to exercise, such right of set-off will constitute an election of
remedies or limit Buyer in any manner in the enforcement of any other remedies
that may be available.

                              Article 10 - NOTICES

         All notices required or permitted to be given pursuant to this
Agreement shall be given in writing in the English language, shall be
transmitted by personal delivery, by registered or certified mail, return
receipt requested, postage prepaid, or by telecopier or other electronic means
and shall be addressed as follows:

         When Buyer is the intended recipient:

                  Parlux Fragrances, Inc.
                  3725 S.W. 30th Avenue
                  Fort Lauderdale, FL  33312
                  Attention:   Ilia Lekach
                               Chairman and Chief Executive Officer
                  Telecopy No:  (954) 316-8155

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<PAGE>

         with a copy to:

                  Mitchell R. Schrage & Associates
                  Tower 56
                  126 East 56th Street
                  New York, NY  10022
                  Attention:   Mitchell R. Schrage, Esq.
                  Telecopy No:  (212) 758-1616

         When Seller is the intended recipient:

                  Victory International (USA) LLC
                  85 Newfield Avenue
                  Edison, NJ  08837
                  Attention:   Anil K. Monga
                  Telecopy No:  (732) 417-5990

         with a copy to:
                  Kelley Drye & Warren LLP
                  101 Park Avenue
                  New York, NY  10178
                  Attention:   William R. Golden, Esq.
                  Telecopy No:  (212) 808-7897

A Party may designate a new address to which notices required or permitted to be
given pursuant to this Agreement shall thereafter be transmitted by giving
written notice to that effect to the other Parties. Each notice transmitted in
the manner described in this Article 10 shall be deemed to have been given,
received and become effective for all purposes at the time it shall have been
(i) delivered to the addressee as indicated by the return receipt (if
transmitted by mail), the affidavit of the messenger (if transmitted by personal
delivery) or the answer back or call back (if transmitted by telecopier or other
electronic means) or (ii) presented for delivery to the addressee as so
indicated during normal business hours, if such delivery shall have been refused
for any reason.

                                       15
<PAGE>

                 Article 11 - BROKERAGE FEES; CERTAIN EXPENSES

         .1 Brokerage Fees.

                  (a) Seller agrees to indemnify Buyer, 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 in accordance with the procedure set
forth in Article 9.5 hereof.

                  (b) Buyer agrees to indemnify Seller, 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 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 in accordance with the procedure set
forth in Article 9.5 hereof.

         .2 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.

                       Article 12 - GOVERNING LAW; FORUM

         The validity, interpretation, performance and enforcement of this
Agreement shall be governed by the laws of the State of New Jersey (without
giving effect to the laws, rules or principles of the State of New Jersey
regarding conflicts of laws). Each Party agrees that any proceeding arising out
of or relating to this Agreement or the breach or threatened breach of this
Agreement shall be commenced and prosecuted in a state or federal court in the
State of New Jersey. Each Party consents and submits to the non-exclusive
personal jurisdiction of any court in the State of New Jersey in respect of any
such proceeding. Each Party consents to service of process upon it with respect
to any such proceeding by registered mail, return receipt requested, and by any
other means permitted by applicable laws and rules. Each Party waives any
objection that it may now or hereafter have to the laying of venue of any such
proceeding in any court in the State of New Jersey and any claim that it may now
or hereafter have that any such proceeding in any court in the State of New
Jersey has been brought in an inconvenient forum. Each Party waives trial by
jury in any such proceeding.

       Article 13 - BINDING EFFECT; ASSIGNMENT; THIRD PARTY BENEFICIARIES

         This Agreement shall be binding upon the Parties and their respective
successors and assigns and shall inure to the benefit of the Parties and their
respective successors and permitted assigns. Neither Seller nor Buyer shall
assign any of its rights or delegate any of its duties under this Agreement (by
operation of law or otherwise) without the prior written consent of the other of
them. Any assignment of rights or delegation of duties under this Agreement by a
Party without the prior written consent of the other Parties, if such consent is
required hereby, shall be void. No person shall be, or be deemed to be, a third
party beneficiary of this Agreement.

                                       16
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                         Article 14 - ENTIRE AGREEMENT

         This Agreement together with the Appendices, Annexes and Schedules
attached hereto constitute the entire contract among the Parties with respect to
the subject matter hereof and cancel and supersede all of the previous or
contemporaneous contracts, representations, warranties and understandings
(whether oral or written) by, between or among the Parties with respect to the
subject matter hereof. Nothing contained in any document or instrument of
conveyance, transfer, assignment or delivery executed or delivered at the
Closing pursuant to this Agreement shall amend, extend, modify, renew or alter
in any manner any representation, warranty, covenant, agreement or indemnity
contained herein. Nothing contained in this Agreement or in any of the
Appendices, Annexes and Schedules attached hereto shall constitute or be
interpreted or construed as an admission by any Party or any of its Affiliates
of liability to third parties, under any Legal Requirement or otherwise, or as
an admission that any Party or any of its Affiliates are in violation of or have
ever violated any such Legal Requirement.

                        Article 15 - FURTHER ASSURANCES

         At any time and from time to time after the Closing, the Parties shall
execute, deliver and acknowledge such other documents and take such further
actions as may be reasonably required in order to consummate the transactions
contemplated hereby.

                            Article 16 - AMENDMENTS

         No addition to, and no cancellation, renewal, extension, modification
or amendment of, this Agreement shall be binding upon a Party unless such
addition, cancellation, renewal, extension, modification or amendment is set
forth in a written instrument which states that it adds to, amends, cancels,
renews, extends or modifies this Agreement and which is executed and delivered
on behalf of each Party by an officer of, or attorney-in-fact for, such Party.

                              Article 17 - WAIVERS

         No waiver of any provision of this Agreement shall be binding upon a
Party unless such waiver is expressly set forth in a written instrument which is
executed and delivered on behalf of such Party by an officer of, or
attorney-in-fact for, such Party. Such waiver shall be effective only to the
extent specifically set forth in such written instrument. Neither the exercise
(from time to time and at any time) by a Party of, nor the delay or failure (at
any time or for any period of time) to exercise, any right, power or remedy
shall constitute a waiver of the right to exercise, or impair, limit or restrict
the exercise of, such right, power or remedy or any other right, power or remedy
at any time and from time to time thereafter. No waiver of any right, power or
remedy of a Party shall be deemed to be a waiver of any other right, power or
remedy of such Party or shall, except to the extent so waived, impair, limit or
restrict the exercise of such right, power or remedy.

                             Article 18 - REMEDIES

         The rights, powers and remedies of the Parties set forth herein for a
breach of or default under this Agreement (including, without limitation, a
breach of or default under any of the representations, warranties, covenants or

                                       17
<PAGE>

agreements contained in this Agreement) are cumulative and in addition to, and
not in lieu of, any rights or remedies that any Party may otherwise have under
this Agreement, at law or in equity.

                      Article 19 - HEADINGS; COUNTERPARTS

         The headings set forth in this Agreement have been inserted for
convenience of reference only, shall not be considered a part of this Agreement
and shall not limit, modify or affect in any way the meaning or interpretation
of this Agreement. This Agreement may be signed in any number of counterparts,
each of which (when executed and delivered) shall constitute an original
instrument, but all of which together shall constitute one and the same
instrument. This Agreement shall become effective and be deemed to have been
executed and delivered by all of the Parties at such time as counterparts shall
have been executed and delivered by each of the Parties, regardless of whether
each of the Parties has executed the same counterpart. It shall not be necessary
when making proof of this Agreement to account for any counterparts other than a
sufficient number of counterparts which, when taken together, contain signatures
of all of the Parties.

                           Article 20 - SEVERABILITY

         If any provision of this Agreement shall hereafter be held to be
invalid, unenforceable or illegal, in whole or in part, in any jurisdiction
under any circumstances for any reason, (i) such provision shall be reformed to
the minimum extent necessary to cause such provision to be valid, enforceable
and legal while preserving the intent of the Parties as expressed in, and the
benefits to the Parties provided by, this Agreement or (ii) if such provision
cannot be so reformed, such provision shall be severed from this Agreement and
an equitable adjustment shall be made to this Agreement (including, without
limitation, addition of necessary further provisions to this Agreement) so as to
give effect to the intent as so expressed and the benefits so provided. Such
holding shall not affect or impair the validity, enforceability or legality of
such provision in any other jurisdiction or under any other circumstances.
Neither such holding nor such reformation or severance shall affect or impair
the legality, validity or enforceability of any other provision of this
Agreement.

                            Article 21 - BULK SALES

         Buyer waives compliance with any applicable bulk sales and similar laws
and statutes which may be applicable to the consummation of the transactions
contemplated by this Agreement, including the provisions of the Uniform
Commercial Code and Seller agrees to indemnify, defend and hold Buyer harmless
from any and all claims, losses, damages, judgments, penalties, expenses and
reasonable attorneys' fees Buyer may suffer as a result of such non-compliance.

                        Article 22 - CERTAIN REFERENCES

         .1 Person. As used herein, references to a "person" shall mean an
individual or an entity, including, without limitation, a corporation,
partnership, joint venture, trust, joint stock company, association,
unincorporated organization or group acting in concert.

                                       18
<PAGE>

         .2 Affiliate. As used herein, references to an "Affiliate" shall mean,
with respect to any person, any other person which, directly or indirectly,
controls, is controlled by or is under common control with such person. For
purposes of the preceding sentence, "control" shall include the power to vote or
direct the voting of more than twenty percent (20%) of the voting shares,
general partnership interests or other voting equity interests of a person.

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

                            BUYER
                            By:      /s/ Frank A. Buttacavoli
                               ------------------------------
                            Name:  Frank A. Buttacavoli
                            Title:  Executive Vice President/Chief Operating
                            Officer/Chief Financial Officer
                            SELLER
                            By:      /s/ Anil K. Monga
                               -----------------------
                            Name:  Anil K. Monga
                            Title:  President

                                       19
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                                   APPENDIX A

         "Affiliate" has the meaning assigned in Article 22.2.

         "Assumed Liabilities" has the meaning assigned in Article 1.6.

         "Buyer" has the meaning assigned in the preamble.

         "Closing" has the meaning assigned in Article 1.1.

         "Closing Date" has the meaning assigned in Article 1.1.

         "Consent" means any consent, approval, exemption, authorization or
waiver by any third party other than a Governmental Authorization.

         "Contract" means, with respect to any person, any oral or written
agreement, indenture, undertaking, debt instrument, contract, lease,
understanding, arrangement, or commitment to which such person is a party or by
which it is bound or to which any of its properties are subject.

         "Encumbrance" means any charge, mortgage, claim, community property
interest, condition, equitable interest, lien, option, pledge, security
interest, right of first refusal, preemptive right or restriction of any kind,
including any restriction on use, voting, transfer, receipt of income, or
exercise of any other attribute of ownership (other than a restriction on
transfer arising under the Securities Laws), except for liens incurred in the
ordinary course of business in respect of Taxes for which adequate reserves have
been established.

         "Excluded Assets" has the meaning assigned in Article 1.3.

         "Final Inventory Value" has the meaning assigned in Article 1.12(a).

         "Global" means Global Brand Holdings, LLC, the licensor under the
Trademark License.

         "Governmental Authorization" means any approval, consent, license,
permit, waiver, or other authorization issued, granted, given, or otherwise made
available by or under the authority of any Governmental Authority pursuant to
any Legal Requirement.

         "Governmental Authority" means any nation, state, county, city, town,
village, district, or other jurisdiction of any nature; federal, state, local,
municipal, foreign, or other government; governmental or quasi-governmental
authority of any nature (including any governmental agency, branch, department,
official, or entity and any court or other tribunal); multi-national
organization or body; or body exercising, or entitled to exercise, any
administrative, executive, judicial, legislative, police, regulatory, or taxing
authority or power of any nature.

         "Indemnitee" means a person who may be entitled to indemnification
hereunder.

         "Indemnitor" means the person who may be obligated to provide
indemnification hereunder.

                                      A-1
<PAGE>

         "Initial Inventory Value" has the meaning assigned in Article 1.12(a).

         "Intellectual Property" means patents, trademarks, copyrights, and
technology, owned, used, filed by or licensed to Seller and used, held for use
or intended to be used primarily in the manufacture and marketing of the
Products and patent and technology licenses and trademark licenses used, held
for use or intended to be used primarily in the manufacture and marketing of the
Products.

         "Interests" has the meaning assigned in Section 1.11(a).

         "Inventory" means any and all inventories (including finished goods,
work-in-process, raw and packaging materials, stores, advertising and marketing
materials, manufacturing supplies and spare parts) which are owned by Seller and
used or held for use in the manufacture or marketing of Products, including all
inventories set forth on Schedule 3.6.

         "Know-How" means all technical information, knowledge with respect to
procedures, processes, trade secrets, inventions, formulae for the perfume oil,
production methods, practices, techniques, diagrams, drawings, specifications,
blueprints, lists of materials and components, production manuals and all other
data relating to the design, manufacture, production, inspection and testing of
the Products known by, available to, owned or used by Seller, including all
patents, copyrights, trade secrets and other intellectual property rights with
respect thereto; provided that any such items that are held by Seller pursuant
to licenses are not included in the Purchased Assets.

         "Legal Requirement" means any federal, state, local, municipal,
foreign, international, multinational, or other administrative order,
constitution, law, ordinance, principal of common law, regulation, statute, or
treaty.

         "Liability" means any and all claims, liabilities, obligations, losses,
costs, expenses (including, without limitation, reasonable legal, accounting and
other expenses), litigation, proceedings, fines, taxes, levies, imposts, duties,
deficiencies, assessments, charges, penalties, allegations, demands, damages
(including, without limitation, actual, punitive or consequential, foreseen or
unforeseen, known or unknown damages), settlements or judgments of any kind or
nature whatsoever.

         "Licensed Trademarks" means the trademarks licensed to Seller by
Global pursuant to the Trademark License, as specified therein.

         "Loss" has the meaning assigned in Article 9.5(b) hereof.

         "Molds" means all molds, test and production dies and other mechanical
devices, and all components thereof, used to produce bottles, caps and other
packaging components for the Products.

         "Notice of Claim" has the meaning assigned in Article 9.5(a) hereof.

                                      A-2
<PAGE>

         "Order" means any award, decision, injunction, judgment, order, ruling,
subpoena, or verdict entered, issued, made, or rendered by any Governmental
Authority or by any arbitrator.

         "Organizational Documents" means the articles or certificate of
incorporation and the bylaws of a corporation; the certificate of formation and
the operating agreement or limited liability company agreement of a limited
liability company; the partnership agreement and any statement of partnership or
a general partnership; the limited partnership agreement and the certificate of
limited partnership of a limited partnership; any charter or similar document
adopted or filed in connection with the creation, formation, or organization of
a person; and any amendment to any of the foregoing.

         "Party" and "Parties" shall have the respective meanings assigned in
the preamble.

         "Pre-Paid Royalties" means all Guaranteed Minimum Royalties previously
paid to Global by Seller in accordance with the terms of the Trademark License
in the amount of One Hundred Seventeen Thousand Five Hundred Dollars
($117,500.00).

         "Proceeding" means any action, arbitration, audit, hearing,
investigation, litigation, or suit (whether civil, criminal, administrative,
investigative, or informal) commenced, brought, conducted, or heard by or
before, or otherwise involving, any Governmental Authority or arbitrator.

         "Products" means those cosmetic, fragrance and other products marketed
by Seller under the Licensed Trademarks.

         "Promissory Note" has the meaning assigned in Article 1.5(d)(iii).

         "Purchase Commitments" means Seller's outstanding commitments for the
purchase of Products and related raw materials and supplies, and other items, as
set forth on Schedules 3.8(a) and 3.8(b).

         "Purchased Assets" has the meaning assigned in Article1.2.

         "Purchase Price" has the meaning assigned in Article 1.4.

         "Retained Liabilities" has the meaning assigned in Article 1.7.

         "Seller" has the meaning assigned in the preamble.

         "Seller's Account" has the meaning assigned in Article 1.5(a).

         "Tax" means any tax (including, without limitation, income, payroll, ad
valorem, real and personal property, gross receipts, sales, use, franchise and
stamp taxes) imposed by any Governmental Authority together with any interest or
penalties thereon.

         "Trademark License" means the License Agreement, dated as of December
1, 2003, between Global and Seller relating to the XOXO and related trademarks.

          "Transactional Taxes" means any transfer, conveyance, excise, stamp,
documentary and other governmental taxes, duties, charges, fees, imposts and
assessments, and all interest and penalties thereon, imposed at any time by any
taxing authority with respect to this Agreement, the transfer, assignment,
conveyance or delivery of the Purchased Assets or the consummation of the
transactions contemplated hereby.

                                      A-3

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