Document:

Exhibit 10.152

 

This document constitutes part of a prospectus covering securities
that have been registered under the Securities Act of 1933.

 

Nonqualified
Stock Option Contract

 

THIS NONQUALIFIED
STOCK OPTION CONTRACT is entered into effective as of the 31st day of January, 2013, by and between INTER PARFUMS, INC.,
a Delaware corporation (the “Company”) and ___________ (“Option
Holder”).

 

WITNESSETH:

 

1.          The
Company, in accordance with the resolutions adopted by the Company’s Executive Compensation and Stock Option Committee (the
“Committee”), and the terms and subject to the conditions of the Company’s 2004 Stock Option Plan (the “2004
Plan”), hereby grants to the Option Holder as of January 31, 2013, a nonqualified stock option to purchase an aggregate of
______ shares (the “Shares”) of the common stock, $.001 par value per share, of the Company (the “Common Stock”),
at the exercise price of $22.195 per share.

 

2.          Subject
to earlier termination as provided in the 2004 Plan, the term of this option shall be six (6) years from the date hereof; provided
that, such option shall vest and become exercisable to purchase shares of Common Stock as follows: 20% one year after the date
of grant, and then 20% on each of the second, third, fourth and fifth consecutive years from the date of grant on a cumulative
basis, so that each option shall become fully vested and exercisable on the fifth year from the date of grant.

 

3.          (a)          Subject
to the provisions contained in Section 2 hereof, this option may be exercised from time to time in whole or in part prior to the
end of the term of the option (but not with respect to less than 100 Shares (unless less than 100 Shares remain to be purchased,
then such amount remaining), or fractional Shares), by giving written notice to the Company at its principal office, presently
551 Fifth Avenue, New York, New York 10176, stating that the Option Holder is exercising this option, specifying the number of
Shares purchased and accompanied by payment in full of the aggregate purchase price therefor (i) in cash or certified check or
(ii) with previously acquired shares of Common Stock or a combination of the foregoing if permitted in the sole discretion of the
Company’s Executive Compensation and Stock Option Committee (the “Committee”).

 

(b)          In
addition, upon the exercise of this option, the Company may withhold cash and/or Shares to be issued with respect thereto, having
an aggregate fair market value equal to the amount which it determines is necessary to satisfy its obligation to withhold federal,
state and local income taxes or other taxes incurred by reason of such exercise. Alternatively, the Company may require the holder
to pay to the Company such amount, in cash, promptly upon demand. The Company shall not be required to issue any Shares pursuant
to this option until all required payments have been made.

 

4.          This
option is not transferable otherwise than by will or the laws of descent and distribution and may be exercised, during the lifetime
of the Option Holder, only by the Option Holder or his legal representatives.

 

      

     

    

 

5.          Nothing
in the 2004 Plan or herein shall confer upon the Option Holder any right to continue in the employ of, or be associated with, the
Company, its Parent or any of its Subsidiaries, or interfere in any way with the right to employment or association of the Option
Holder with the Company, its Parent or any of its Subsidiaries.

 

6.          The
Option Holder understands that the Shares have been registered for issuance to the Option Holder in Registration Statement No.
333-136988 under the Securities Act of 1933, as amended (the “Act”). Resale to the public by the Option Holder is to
be made under Rule 144 under the Act in accordance with the procedure for resale of “affiliate shares” in the absence
of a subsequent effective registration statement for the resale of the Shares. Notwithstanding registration under the Act, the
Option Holder understands that in accordance with the provisions of the Company’s Code of Business Conduct, (i) the Option
Holder must obtain permission from the Company’s Chief Financial Officer prior to any sale of the Shares; and (ii) the use
of material non-public information in connection with the sale of the Company’s shares (“Insider Trading”) or
the communication of such information to others who use it in trading the Company’s shares (“Tipping”) is strictly
prohibited.

 

7.          (a)          The
Option Holder understands that the Company maintains its internet website at www.interparfumsinc.com which is linked to
the SEC Edgar database. The Option Holder can obtain through the Company’s website, free of charge, its annual reports on
Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K, and amendments to those reports filed or furnished pursuant
to Section 13(a) or 15(d) of the Exchange as soon as reasonably practicable after the Company has electronically filed with or
furnished them to the SEC.

 

(b)          In
addition, the Company will cause to be delivered to the Option Holder, upon request to the Company directed to either the Chief
Financial Officer or the Controller, without charge to the Option Holder, a copy of the documents incorporated by reference into
the Registration Statement, other than exhibits (unless such exhibits are specifically incorporated by reference into the Registration
Statement).

 

8.          Notwithstanding
anything to the contrary, if at any time the Chief Executive Officer, Board of Directors of the Company or the Committee shall
determine it its discretion that the listing or qualification of the Shares on any securities exchange, with national securities
association or under any applicable law, or the consent or approval of any governmental regulatory body, is necessary or desirable
as a condition of, or in connection with, the granting of an option, or the issue of Shares thereunder, or the sale of the Shares,
then this option may not be exercised in whole or in part unless such listing, qualification, consent or approval shall have been
effected or obtained free of any conditions not acceptable to the Chief Executive Officer, Board of Directors or the Committee.

 

9.          (a)          The
Company and the Option Holder further agree that they will both be subject to and bound by all of the terms and conditions of the
2004 Plan, which is incorporated by reference herein and made a part hereof as if fully set forth herein.

 

    2  

     

    

 

(b)          In
the event the Option Holder's employment by, or association with, the Company, its Parent or any of its Subsidiaries terminates,
or in the event of the death or disability of the Option Holder, the rights hereunder shall be governed by, and made subject to,
the provisions of the 2004 Plan.

 

(c)          In
the event of a conflict between the terms of this Contract and the terms of the 2004 Plan, then in such event, the terms of 2004
Plan shall govern.

 

(d)          Except
as otherwise provided herein, all capitalized terms used herein shall have the same meaning ascribed to them in the 2004 Plan.

 

(e)          The
Option Holder agrees that the Company may amend the 2004 Plan and the options granted to the Option Holder under the 2004 Plan,
subject to the limitations contained in the 2004 Plan.

 

10.         This
Contract shall be binding upon and inure to the benefit of any successor or assign of the Company and to any executor, administrator
or legal representative entitled by law to the Option Holder's right hereunder.

 

11.         This
Contract shall be governed by and construed in accordance with the laws of the State of New York, without regard to the principles
of conflicts of laws.

 

IN WITNESS WHEREOF,
the parties hereto have entered into this Contract effective as of the date first above written.

 

	 	INTER PARFUMS, INC.	 
	 	 	 	 
	 	By:	 	 
	 	 	[Name and Title]	 
	 	 	 	 
	 	 	 	 

 

Schedule of Executive Officers and Number
of Shares Underlying Option

 

	Executive Officer	 	Number of Shares	 
	 	 	 	 
	Philippe Santi	 	 	2,000	 
	Frederic Garcia-Pelayo	 	 	2,000	 

 

    3Exhibit 10.153

   

SEVENTH MODIFICATION OF LEASE

   

This Seventh Modification
of Lease made as of this 7th day of February, 2013 by and between JEFFREY MANAGEMENT CORP. AS MANAGER FOR FRENCH PARTNERS LLC
AND NEW YORK FRENCH BUILDING CO-INVESTORS, LLC, TENANTS-IN-COMMON, having an address at 7 Penn Plaza, New York, New York 10001
(hereinafter referred to as the "Landlord") and INTER PARFUMS, INC., having an address at 551 Fifth Avenue, New
York, New York 10176 (hereinafter referred to as the "Tenant").

 

WITNESSETH

 

WHEREAS, Landlord’s
predecessor in interest and Tenant’s predecessor in interest have entered into a certain lease dated January 13, 1992, as
amended by Modification of Lease dated June 17, 1994, Second Modification of Lease dated April 30, 1997, Third Modification of
Lease dated June 17, 2002, Fourth Amendment of Lease dated February 14, 2006, Fifth Modification of Lease dated June 23, 2006 and
Sixth Modification of Lease dated February 24, 2011 (hereinafter collectively referred to as the "Existing Lease") for
Suite 1522, Suite 1502, Suite 1501 and Suite 1501A as more fully indicated on the attached Exhibit “A” (hereinafter
referred to as the " Demised Premises") in the building known as 551 Fifth Avenue, New York, New York 10176 (hereinafter
referred to as the "Building").

 

WHEREAS, immediately
prior to the execution of this Seventh Modification of Lease by both parties hereto, Tenant entered into an Assignment and Assumption
of Lease (a copy of which is attached hereto and marked Exhibit “F”) with JEAN PHILIPPE FRAGRANCES, LLC, assigning
over all of JEAN PHILIPPE FRAGRANCES, LLC right, title and interest in the Lease to INTER PARFUMS, INC. and INTER PARFUMS, INC.,
shall be assuming all of the obligations of the Lease.

 

WHEREAS,
Landlord shall consent to such Assignment and Assumption of Lease WHEREAS, Landlord and Tenant desire to amend the
Existing Lease as hereinafter provided. The Existing Lease, as hereinafter amended shall be referred to as the
Lease.

 

NOW THEREFORE,
in consideration of these premises, mutual covenants and agreements contained herein and other good and valuable consideration,
receipt of which is hereby acknowledged the parties hereby agree as follows:

 

I.            All
of the capitalized terms used in the Seventh Modification of Lease not defined herein have the same meaning as described in the
Existing Lease.

 

    	 	1	 

     

    

  

II.           Landlord
and Tenant agree to extend the term of the Existing Lease for the Demised Premises which is currently scheduled to expire February
28, 2013 so that the new expiration date shall be March 31, 2013 and Tenant shall continue to occupy the Demised Premises pursuant
to the terms and conditions of the Existing Lease, including the obligation to pay Annual Rent and additional rent, through March
31, 2013.

 

III.         Commencing
on the later of (i) October 1, 2013 or (ii) the date Landlord delivers the Demised Premises to Tenant with Landlord’s Work
and Landlord’s Base Building Work (defined hereafter) substantially completed (“Seventh Amendment Commencement Date”):

 

A.            Landlord and Tenant
agree to further extend the term of the Lease for the entire Demised Premises, so that the new expiration date shall be the last
day of the one hundred twenty-fifth (125th) full month following the Seventh Amendment Commencement Date (the “Seventh
Amendment Expiration Date”). (The period commencing on the Seventh Amendment Commencement Date through the Seventh Amendment
Expiration Date is hereinafter referred to as the “Extended Term”). Except as expressly set forth in this Agreement,
all terms, conditions, covenants and agreements set forth in the Lease shall be applicable to Tenant’s occupancy of the Demised
Premises during the Extended Term.

 

In accordance with Article
V hereafter, Tenant shall vacate the Demised Premises on or before March 31, 2013 in order for Landlord to perform Landlord’s
Base Building Work and Landlord’s Work, as defined in Article IV hereafter. Landlord and Tenant agree that from the period
commencing April 1, 2013 until the Seventh Amendment Commencement Date (“Temporary Space Term”), the Existing Lease
and all of the terms, conditions, covenants and agreements set forth in the Existing Lease shall be applicable to Tenant’s
occupancy of the Temporary Space, except (i) provided Tenant has vacated the Demised Premises on March 31, 2013, the Tenant shall
not be obligated to pay any Annual Rent or additional rent due for the Demised Premises during the Temporary Space Term; and (ii)
the Tenant shall be obligated to pay the annual rate for the Temporary Space (defined in Article V) during the Temporary Space
Term as set forth in Article V hereafter.

 

B.            The
Annual Rent that Tenant shall be obligated to pay during the Extended Term for the Demised Premises shall be as more fully indicated
on the attached Exhibit “B”.

 

C.            Article
35A of the Lease, as amended, shall be further amended for the entire Demised Premises as follows:

 

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		(i)	On the third (3rd) line the number “2.209” as amended by the Modification
of Lease, Second Modification of Lease, Third Modification of Lease, Fourth Modification of Lease, Fifth Modification of Lease
and Sixth Modification of Lease, shall be deleted and replaced with the number “3.92”.

 

		(ii)	On the sixth (6th) line the language “July
1, 1992 through June 30, 1993” as amended by the Modification of Lease, Second Modification of Lease, Third Modification
of Lease, Fourth Modification of Lease, Fifth Modification of Lease and Sixth Modification of Lease, shall be deleted and replaced
with the language “July 1, 2013 through June 30, 2014.

 

D.           Article
36 of the Lease shall be deleted in its entirety. It being the intent of the parties that the Tenant shall be no longer be obligated
to pay any increase in Annual Rent based on Operating Expenses, as defined in the Lease, and all references in the Lease to Operating
Expenses shall be deleted and declared null and void and of no further force and effect. In lieu thereof, the parties hereto agree
that Tenant shall pay an annual increase in the Annual Rent due, in accordance with the attached Exhibit “B”.

 

III.         Article
37 of the Lease as amended, shall be deleted in its entirety and replaced with the following:

 

“A.         Supplementing
Article 12 hereof, Landlord agrees that it will install prior to the Seventh Amendment Commencement Date, at Landlord’s sole
cost and expense, a meter or meters to measure the electricity consumed by Tenant's light fixtures, office and other equipment
in the Demised Premises including, but not limited to, the air-conditioning and compressor equipment exclusively servicing the
Demised Premises that provide air-conditioning for the Demised Premises. 

 

B.            The
above electric shall be supplied by Landlord to the Demised Premises on a submetered basis and Tenant shall pay to Landlord in
respect thereof, as additional rent, the sum of (i) an amount determined by multiplying the consumption of KW hours and KW demand
consumed by the Tenant within the Demised Premises as recorded on the submeter or submeters servicing the Demised Premises by the
same utility Service Classification under which the Landlord purchases electricity at the consumption level for which Tenant qualifies,
and (ii) Landlord’s administrative charge of five (5%) percent of the amount referred to in (i) above, for overhead and supervision.

 

    	 	3	 

     

    

  

C.            Where
more than one meter measures such electric to Tenant, the electric service rendered through each meter shall be aggregated and
billed together in accordance with the provisions hereinabove set forth.  Bills for the electric consumption shall be rendered
to Tenant at such time as Landlord may elect.  Tenant shall pay the amount of the charge for electric as set forth on said
bills within thirty (30) days after rendition of such bill.  Tenant shall have, at its own cost and expense, the right to
have its representative present at the time of meter readings to verify same.  Landlord shall, upon Tenant's request, furnish
Tenant with copies of the underlying bills that Landlord receives from the public utility. Landlord represents that the electrical
current and the capacity of the existing feeders and risers in the Building are reasonable for the normal business operations of
the Tenant.

 

D.            Tenant
shall not make alterations or additions to the electric equipment, and/or appliances other than general office lighting and business
machines without first obtaining written consent from the Landlord in each instance, which Landlord shall not unreasonably withhold
or delay provided same are consistent with the capacity of the risers servicing the Demised Premises.  Landlord shall not
in any way be liable or responsible to Tenant for any loss or damage or expense which Tenant may sustain or incur if either the
quantity or character of electric service is changed provided such loss or damage is not attributable to the negligence or wrongful
action of Landlord.  Tenant covenants and agrees that at all times its use of electric current shall never exceed the capacity
of existing feeders to the building or the risers or wiring installation.  Any riser or risers to supply Tenant's increased
electricity requirements, upon written request of Tenant, will be installed by Landlord, at the sole cost and expense of Tenant,
if, in Landlord’s sole judgment reasonably exercised, the same are necessary and will not cause or create a dangerous or
hazardous condition or entail excessive or unreasonable alterations, repairs or expense or interfere with or disturb other Tenants
or occupants.

 

    	 	4	 

     

    

  

E.            Landlord
reserves the right to terminate the furnishing of electricity to the Demised Premises on a submetered basis at any time, upon ninety
(90) days' written notice to Tenant, in which event, Tenant may make application, at its own cost and expense, directly to the
utility company servicing the Building for Tenant's entire separate supply of electric current and Landlord shall permit its wires
and conduits to the extent available and safely capable to be used for such purpose.  Landlord upon the expiration of the
aforesaid ninety (90) day period and such longer time as shall be reasonable to enable Tenant to install the wiring necessary to
enable Tenant to purchase electricity directly from the public utility serving the Building may discontinue furnishing the electric
current, in which event, Tenant's liability for the portion of the rent attributable to electricity being furnished by Landlord
shall terminate as of the date of discontinuance of the supplying of electric current, but this Lease shall otherwise remain in
full force and effect.  Tenant agrees that it will bear the expense in converting the Demised Premises.

 

IV.          A.            Tenant agrees to accept
the Demised Premises in its present "as is" condition and Landlord shall not be required to do any work or furnish any
materials in connection therewith, except Landlord agrees to perform the following work as more fully indicated on the attached
Exhibit “C” (“Landlord’s Base Building Work”).

 

B.            In
addition, Landlord shall construct the Demised Premises (“Landlord’s Work”) pursuant to the preliminary plans
attached hereto and marked Exhibit “D”. Landlord and Tenant agree that the Landlord’s Work, will be performed
at Landlord’s sole cost and expense, subject to the following sentence. The cost to perform Landlord’s Work shall be
limited to the amount equivalent to $55.00 per rentable square foot, which cannot exceed $926,255.00 (“Landlord’s Contribution”).
Landlord and Tenant agree that any cost above Landlord’s Contribution shall be borne by Tenant. Landlord and Tenant acknowledge
and agree that the Landlord’s architect is currently preparing final architectural and construction plans (the “Plans”)
for Landlord’s Work.  Landlord agrees to submit such Plans to Tenant for Tenant’s approval.  The Plans will
be subject to Tenant’s prior written approval which shall not be unreasonably withheld or delayed.  Tenant will deliver
to Landlord written approval of the Plans and/or written notice of any objections Tenant has to the Plans no later than seven (7)
business days after Tenant’s actual receipt of the Plans from Owner.  Landlord will cause the Plans to be revised to
satisfy Tenant’s reasonable objections and resubmit to Tenant within seven (7) business days after Landlord’s receipt
of Tenant’s objection, if any.  The terms as described in this paragraph shall be in effect until such time as Landlord
and Tenant mutually approve the Plans. Tenant’s approval of the Plans shall occur no later than March 31, 2013 and any delay
in the Tenant’s approval of the Plans beyond March 31, 2013 shall be deemed a Tenant Delay (hereafter defined).

 

    	 	5	 

     

    

  

C.            Landlord
and Tenant agree that upon approval of the Plans (hereinafter referred to as the “Final Plans”) by both parties Landlord
shall submit the Final Plans to three (3) general contractors offices for bidding purposes. The decision as to which bid shall
be selected shall be solely the Landlord’s. Both parties hereto agree to use their diligent, reasonable efforts to complete
the Final Plans on a timely basis and to move forward with the completion of the construction of the Landlord’s Work. Landlord
and Tenant agree that Landlord’s contractor shall be the contractor selected pursuant to a procedure whereby the Final Plans
are submitted to three (3) contractors, selected by Landlord, subject to the above, who are requested each to submit a sealed fixed
price contract bid price to construct the Landlord’s Work designated on the Final Plans, to Landlord. Within five (5) days
of Landlord’s receipt of the bids and their review, Landlord shall forward the bids to Tenant for Tenant’s review with
a recommendation of Landlord as to who the successful bidder should be. Tenant shall have the right to reduce the scope of Landlord’s
Work or the quality of materials to be used and otherwise to “value engineer” Landlord’s Work to lower the cost
thereof. Landlord, after such value engineering, in its sole discretion, after adjustments for the inconsistent assumptions to
reflect “apples to apples” comparison, shall select one (1) of the bidders and such contractor shall enter into a construction
contract with Landlord consistent with the terms of the bid to perform Landlord’s Work, which will establish the final cost
of Landlord’s Work (“Final Cost”). Tenant shall reimburse Landlord for the difference between Landlord’s
Contribution and the Final Cost within thirty (30) days of Tenant’s receipt of written notice by Landlord of the Final Cost.

 

D.            “Tenant
Delay” means any delay which Landlord may encounter in the performance of Landlord’s obligations under this Lease
to the extent that Landlord encounters such delay by reason of (i) any act or omission of any nature of Tenant, Tenant’s
agents or contractors, (ii) delays by Tenant in violation of this Lease in submission of information, (iii) delays due to the postponement
of any portion of Landlord’s Work or Landlord’s Base Building Work, whichever the case may be, at the request of Tenant,
and/or (iv) the time delay as a result of the performance of change orders. Any such Tenant Delay shall continue only through the
date that such activity or occurrence shall cease to constitute a delay; provided that all simultaneous delays shall be deemed
to run concurrently and not consecutively and shall not be “double” counted. In the event that Substantial Completion
of the Landlord’s Work or Landlord’s Base Building Work, whichever the case may be, is actually delayed by reason of
one or more Tenant Delay, Tenant agrees that the Seventh Amendment Commencement Date shall be deemed to be the date that the Landlord’s
Work or Landlord’s Base Building Work, whichever the case may be, would have been Substantially Completed had the same not
been so delayed due to such Tenant Delays. Landlord agrees that, subject to Tenant Delay, each item of Landlord’s Work or
Landlord’s Base Building Work, whichever the case may be, shall be prosecuted with due diligence; provided, however, that
nothing contained in this Article IV shall be deemed to impose upon Landlord any obligations to employ contractors or labor at
so-called overtime or other premium pay rates or to incur any other overtime costs or expenses whatsoever.

 

    	 	6	 

     

    

  

E.            As
to any construction performed by any party in the Demised Premises, including Landlord’s Work or Landlord’s Base Building
Work, whichever the case may be, “Substantial Completion” or “Substantially Completed” or “Substantially
Complete” means that such work has been completed in accordance with (1) the provisions of this Lease applicable thereto,
(2) the Final Plans for such work, and (3) all applicable legal requirements, except for details of construction, decoration and
mechanical adjustments, if any, the non-completion of which do not materially interfere with Tenant’s use of the Demised
Premises, or which, in accordance with good construction practice, should be completed after the completion of other work to be
performed in the Demised Premises (collectively, “Punch List Items”).

 

V.           Tenant
wishes to lease additional space in the Building, known as Suite 1406 on a temporary basis, as more fully indicated on the attached
Exhibit “E” from the Landlord (hereinafter referred to as the “Temporary Space”) and provided Tenant is
not in default of any of the terms, covenants or conditions of the Lease, Landlord is willing to lease said Temporary Space to
Tenant.

 

A.           Commencing
on April 1, 2013 (“Temporary Space Commencement Date”),

 

Landlord hereby leases
to Tenant the Temporary Space pursuant to the terms, covenants and conditions of the Lease, as hereinafter amended, and Tenant
hereby accepts for lease from Landlord the Temporary Space on a month to month basis, until the day prior to the Seventh Amendment
Commencement Date (“Temporary Space Term”).

 

B.            The
annual rental rate for the Temporary Space only shall be $48,000.00 per month for the Temporary Space during the Temporary
Space Term.

 

C.            Tenant
agrees to accept the Temporary Space in its present "as is" condition and Landlord shall not be required to do any work
or furnish any materials in connection therewith except Landlord agrees to perform the following work;

 

    	 	7	 

     

    

  

(i) Construct a trimmed opening
between the unfinished portion and pre-built portion of the Temporary Space; and

 

(ii) Purchase and install ductwork
and diffusers for Tenant’s air conditioning in the unfinished portion of the Temporary Space; and

 

(iii) Remove any paint chips on
the ceiling in the unfinished portion of the Temporary Space.

 

D.            Tenant
understands that the Landlord requires the vacating of the Temporary Space in a timely fashion, in order for the Landlord to lease
the Temporary Space to another tenant. Accordingly, Tenant agrees, upon receipt of Landlord’s fifteen (15) day written notice
that Landlord’s Work and Landlord’s Base Building Work is Substantially Completed, Tenant agrees to vacate the Temporary
Space leaving same broom clean in good order and condition. If Tenant fails to vacate the Temporary Space by the expiration of
said fifteen (15) day period, then in addition to paying the Annual Rent and additional rent due for the Demised Premises, Tenant
further agrees to be obligated to pay three (3) times the amount of the Annual Rent and additional rent currently due for the Temporary
Space for any portion of each month that Tenant fails to vacate the Temporary Space after said fifteen (15) notice.

 

VI.         Notwithstanding
anything contained herein, provided Tenant is not in default of any of the terms, covenants and conditions of this Lease, Landlord
and Tenant agree that Tenant shall not be obligated to pay any Annual Rent for the months the later of (i) November, 2013, November,
2014, September, 2016, September, 2017 and September, 2018; or (ii) second (2nd), fourteenth (14th), thirty-sixth
(36th), forty-eighth (48th) and sixtieth (60th) full months following the Seventh Amendment Commencement
Date. Tenant agrees however that the credit due for the months the later of (i) November, 2014, September, 2016, September, 2017
and September, 2018; or (ii) fourteenth (14th), thirty-sixth (36th), forty-eighth (48th) and sixtieth
(60th) full months following the Seventh Amendment Commencement Date will be limited to the monthly Annual Rent due
and payable by Tenant during the first year of the Extended Term ($66,666.67) per month. Tenant shall be obligated to pay all remaining
Annual Rent, additional rent and utility charges (including the monthly submetered electric charge), as additional rent due during
the above mentioned "rent free" period.

 

VII.        Pursuant
to the terms and conditions of the Lease, Tenant has heretofore deposited with Landlord the sum of $14,137.50 plus any accrued
interest, as security thereunder, which Landlord acknowledges receipt thereof.

 

    	 	8	 

     

    

  

Provided that prior to
the Seventh Amendment Commencement Date, Landlord shall not have used, applied or retained the whole or part of said sum of $14,137.50
plus any accrued interest, the parties hereto agree that said sum of $14,137.50 plus any accrued interest, shall be held by Landlord
as security hereunder pursuant to the provisions of Articles 33 and 55 of the Lease.

 

Article 55 of the Lease
shall be amended so that on the fifth (5th) line of the second (2nd) paragraph after the language “security
deposit” the following language shall be added: “(not to exceed the actual interest earned on the security deposit)”. 

 

VIII.       Article
50 of the Lease shall be deleted in its entirety and replaced with the following:

 

“Tenant represents that it has dealt
with no broker other than Jeffrey Management Corp. Tenant agrees to indemnify and hold Landlord harmless (including attorneys'
fees) from and against any and all claims for brokerage commissions made by any other party claiming to act for or on behalf of
Tenant concerning this transaction.”

 

IX.         This
Seventh Modification of Lease shall be binding upon and inure to the benefit of the parties hereto, their respective heirs, legal
representatives, successors and permitted assigns.

 

X.          Except
as herein expressly modified, all terms, covenants and conditions of the Lease are hereby ratified and certified in all respects
thereto.

 

IN WITNESS WHEREOF
the parties hereto have executed this instrument as of the day first above written.

 

	 	JEFFREY MANAGEMENT CORP. AS MANAGER FOR FRENCH PARTNERS LLC AND NEW YORK FRENCH BUILDING CO-INVESTORS, LLC, TENANTS-IN-COMMON
	 	 	 
	 	By:	/s/ unintelligible
	 	 	 
	 	INTER PARFUMS, INC.
	 	 	 
	 	By:	/s/ Russell Greenberg 
	 	Russell Greenberg, Executive Vice President

  

    	 	9	 

     

    

  

EXHIBIT A

   

   

    	 	 	 

     

    

  

EXHIBIT "B"

   

	Term	 	Monthly	 	 	Annual Rent	 
	**10/1/2013	 	-	 	9/30/2014	 	$	66,666.67	 	 	$	800,000.00	 
	10/1/2014	 	-	 	9/30/2015	 	$	67,666.67	 	 	$	812,000.00	 
	10/1/2015	 	-	 	9/30/2016	 	$	68,681.67	 	 	$	824,180.00	 
	10/1/2016	 	-	 	9/30/2017	 	$	69,711.89	 	 	$	836,542.70	 
	10/1/2017	 	-	 	9/30/2018	 	$	70,757.57	 	 	$	849,090.84	 
	10/112018	 	-	 	9/30/2019	 	$	78,134.31	 	 	$	937,611.70	 
	1011/2019	 	.	 	9/30/2020	 	$	79,306.32	 	 	$	951,675.88	 
	10/112020	 	-	 	9/30/2021	 	$	80,495.92	 	 	$	965,951.01	 
	10/112021	 	-	 	9/30/2022	 	$	81,703.36	 	 	$	980,440.28	 
	1011/2022	 	-	 	9/30/2023	 	$	82,928.91	 	 	$	995,146.88	 
	10/l/2023	 	-	 	2/29/2024	 	$	84,172.84	 	 	$	1,010,014.09	 

  

** Dates subject to adjustment pursuant
to Article II of the Seventh Modification of Lease

   

    	 	 	 

     

    

  

EXHIBIT C

   

Landlord’s Base Building Work

   

		1.	Architectural Plans: Landlord shall
at Landlord’s sole cost and expense provide Tenant with architectural and construction plans.

   

		2.	Demolition: Suite 1500 shall be demolished.
Landlord shall prepare the Premises so that it is clean and free from any debris with an ACP-5, allowing Tenant construction to
begin.

   

		3.	Flooring: Flooring for Suite 1500 shall
be scraped, patched and smoothed as needed allowing floor to receive floor covering.

   

		4.	Electric: Up to six (6) watts, connected
load, per rentable square foot is available for Tenant general use.

   

		5.	Elevators: A total of six (6) elevators
service the fifteenth (15th) floor consisting of five (5) passenger elevators and one (1) service elevator.

   

		6.	HVAC: Landlord shall deliver the existing
air conditioning system which exclusively services the Demised Premises in good and working order. Tenant will be responsible
for duct and distribution. All radiators to be in good working order including new Danfoss valves.

   

		7.	Supplemental Cooling and Electric: Space
will be made available for supplemental air-conditioning which shall be provided at Tenant’s cost. Tenant’s electric
for supplemental cooling shall be sub-metered. Condenser water for the Tenant’s supplemental air-conditioning unit(s) will
be charged at the rate of .75¢ per ton per hour.

   

		8.	Telecommunication Infrastructure: Landlord
shall provide Tenant with ample space in the Building’s riser or sleeves for Tenant’s electric and telecommunication
infrastructure.

   

		9.	Life Safety System:

		a)	Landlord shall install a fully operational life safety
system for the Premises;

		b)	Landlord shall install a combination standpipe/sprinkler
risers, pumps, valves connections and a main sprinkler loop, which is fully operational, code compliant and ready for Tenant branch
piping and sprinkler head installation ;

		c)	Landlord shall make available fire alarm system modes
and points on each floor for Tenant’s strobes and connections. Tenant, at Tenant’s expense, shall provide all points
within the Premises, tie-ins and software reprogramming. All fire and safety systems, including alarms, speakers, communications,
etc. shall be in full service and available on all floors within the Premises. Landlord shall install strobes and fire detection
system in restrooms;

		d)	Fireproofing, if any, of any exposed structural steel
will be installed as required by the Building Code. However, Tenant will be responsible for reapplication of fireproofing, as
required, due to Tenant Improvements.

		e)	Fire doors, if any, that are required outside the
Premises, shall be provided by Landlord at its sole cost and expense.

   

Windows:

   

		a)	Landlord shall clean all windows and replace glass
if broken;

		b)	Landlord shall scrape and strip to the metal, prime
and paint all existing window frames in a building standard manner;

		c)	Landlord shall make all existing window sashes to
be in working order and if necessary install new window locks;

		d)	Landlord shall replace all existing weather stripping;

		e)	Landlord
shall be responsible for windows repairs thru out the Lease term.

 

    	 	 	 

     

    

  

EXHIBIT
D

   

   

    	 	 	 

     

    

  

EXHIBIT E

   

   

    	 	 	 

     

    

  

EXHIBIT F

   

ASSIGNMENT AND ASSUMPTION OF LEASE

WITH CONSENT OF LANDLORD

   

THIS ASSIGNMENT
AND ASSUMPTION OF LEASE WITH CONSENT OF LANDLORD is made this ___ day of _____, 2013, by and among JEAN
PHILIPPE FRAGRANCES, LLC, a New York limited liability company, (“Assignor”), INTER
PARFUMS, INC., a Delaware corporation (“Assignee”) and parent company of Assignor, and JEFFREY
MANAGEMENT CORP. AS MANAGER FOR FRENCH PARTNERS LLC, AND NEW YORK FRENCH BUILDING CO-INVESTORS, LLC, TENANTS-IN-COMMON (“Landlord”).

   

WITNESSETH

   

Whereas,
Landlord’s predecessor in interest and Tenant’s predecessor in interest have entered into a certain lease dated January
13, 1992, as amended by Modification of Lease dated June 17, 1994, Second Modification of Lease dated April 30, 1997, Third Modification
of Lease dated June 17, 2002, Fourth Amendment of Lease dated February 14, 2006, Fifth Modification of Lease dated June 23, 2006
and Sixth Modification of Lease dated February 24, 2011 (hereinafter collectively referred to as the “Lease”) for the
entire fifteenth (15th) floor (hereinafter referred to as the “Current Demised Premises”) in the building known as
551 Fifth Avenue, New York, New York 10176 (hereinafter referred to as the “Building”).

  

Whereas,
Assignor desires to assign the Lease, Assignee desires to take such assignment and assume all obligations of the Lease, and Landlord
is willing to consent to such assignment and assumption.

   

NOW, THEREFORE,
the parties hereby agree as follows:

   

ASSIGNMENT

   

KNOW ALL MEN BY
THESE PRESENTS, that Assignor for value received, does hereby assign, transfer and set over to Assignee, all of Assignor’s
right, title and interest in and to the Lease, to have and to hold the same unto Assignee, its successors and assigns, from the
date hereof, for and during the remainder of the term thereof, subject to the rents, covenants, conditions, provisions therein
contained.

   

ASSUMPTION

   

The Assignee, in consideration
of the above assignment, does hereby accept the same and hereby unconditionally agrees to be bound by all of the covenants, agreements,
terms, provisions and conditions set forth in the Lease.

   

CONSENT TO ASSIGNMENT

   

Landlord hereby consents
to the assignment and assumption as set above.

     

[Balance of page intentionally left blank
-

   

The Signature Page(s) to this Instrument
Follow].

   

    	 	 	 

     

    

  

In
Witness Whereof, the parties hereto have executed and delivered this instrument the date first above written.

   

	 	Assignor:
	 	 
	 	JEAN PHILIPPE FRAGRANCES LLC
	 	By: Inter Parfums, Inc., Sole Member
	 	 	 
	 	By:	/s/ Russell Greenberg
	 	Russell Greenberg,
	 	Executive Vice President
	 	 
	 	Assignee:
	 	 
	 	INTER PARFUMS, INC.
	 	 	 
	 	By:	/s/ Russell Greenberg
	 	Russell Greenberg,
	 	Executive Vice President
	 	 
	 	Landlord:
	 	 
	 	JEFFREY MANAGEMENT CORP. AS
	 	MANAGER FOR FRENCH PARTNERS LLC
	 	AND NEW YORK FRENCH BUILDING CO-
	 	INVESTORS, LLC, TENANTS-IN-COMMON
	 	 	 
	 	By: 	/s/ [unintelligible]
	 	[name]
	 	[title]

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