Document:

Compensation Arrangements for Named Executive Officers.

 EXHIBIT 10.29 
  
 Compensation Arrangements for the Named Executive Officers 
  
 Set forth below is a summary of the compensation paid, or that may be paid,
by Elizabeth Arden, Inc. (the "Company") to its named executive officers (defined in Regulation S-K Item 402(a)(3) (the "Named Executives")) in their positions as of June 30, 2007. All of the Company's executive officers are at-will
employees whose compensation and employment status may be changed at any time in the discretion of the Company's Board of Directors (the "Board"), subject only to the terms of the Severance and Change-in-Control Arrangements described below.

  
 Base Salary 
  
 Effective September 1, 2007, the Named Executives are scheduled to
receive the following annual base salaries in their current positions: 
  

						
	 Named Executive
	  	 Position
	  	Base Salary
	 E. Scott Beattie
	  	Chairman of the Board, President and Chief Executive Officer	  	$	780,000
	 Paul West(1)
	  	Former President and Chief Operating Officer	  	$	75,000
	 Stephen J. Smith
	  	Executive Vice President and Chief Financial Officer	  	$	380,000
	 Jacobus A.J. Steffens(2)

	  	Executive Vice President, General Manager - International	  	$	435,104
	 Joel B. Ronkin
	  	Executive Vice President, General Manager - North America Fragrances	  	$	400,000

  
 (1)   Effective on
August 16, 2006, Mr. West was elected to the Board as Vice Chairman and ceased serving as the President and Chief Operating Officer of the Company. Mr. West continues to serve as a non-executive employee of the Company. Mr. West, as a director
of the Company and Vice Chairman of the Board, will receive stock incentive grants consistent with those made to non-employee directors. 
  
 (2)   Mr. Steffens' annual base salary is 530,000 Swiss Francs, which equates to US$435,104, based on an August 15, 2007 exchange rate of 1.2181 Swiss
Francs to the U.S. dollar. 
  
 Annual Management Bonus Program and Long-Term
Incentive Plans 
  
 Cash Bonuses 

  
 The Named Executives, other than Mr. West, are eligible
to participate in the 2005 Management Bonus Plan (the "Management Plan"), on the basis of performance goals established for them under the Management Plan by the Compensation Committee of the Board (the “Compensation Committee”) for the
payment of cash bonuses ("Bonus"). The Management Plan was approved by the shareholders of the Company at the annual shareholders meeting on November 16, 2005. 
  
  
  

 - 1 - 

 During the fiscal year ending June 30, 2008, the Named Executives listed in the following table are
eligible to earn Bonuses under the Management Plan upon the Company’s achievement of performance goals described in the notes to the following table. All performance targets under the Management Plan exclude any one-time or non-recurring events
reflected in the Company's consolidated financial statements, as may be approved by the Compensation Committee of the Board. 
  

															
	 Named Executive
	  	 Position
	  	Percentage
of Base
Salary
Payable
if
all
Quarterly
Targets are
Achieved(1)	 	 	Percentage
of Base
Salary
Payable if
Threshold
Level
Annual
Target
is
Achieved(2)	 	 	Percentage
of Base
Salary
Payable if
Goal Level
Annual
Target is
Achieved(3)	 	 	Additional
Percentage
of Base
Salary
Payable if
Superior
Level
Annual
Target
is
Achieved(4)	 
	 E. Scott Beattie
	  	 Chairman of the Board, President and Chief Executive Officer
	  	40	%	 	30	%	 	60	%	 	50	%
	 Paul West
	  	 Former President and Chief Operating Officer(5) 
	  	—  	 	 	—  	 	 	—  	 	 	—  	 
	 Stephen J. Smith
	  	 Executive Vice President and Chief Financial Officer
	  	20	%	 	15	%	 	30	%	 	25	%
	 Jacobus A.J. Steffens
	  	 Executive Vice President,
 General Manager — International
	  	20	%	 	15	%	 	30	%	 	25	%
	 Joel B. Ronkin
	  	 Executive Vice President,
 General Manager — North America Fragrances
	  	20	%	 	15	%	 	30	%	 	25	%

  
 (1)   For the fiscal
year ended June 30, 2008, the Named Executives, other than Mr. West, will be able to earn 10% of their par bonus potential (which is 100% of base salary for Mr. Beattie and 50% of base salary for all other Named Executives other than
Mr. West) each fiscal quarter (for a total of 40% of their par bonus potential) if the Company achieves its applicable quarterly diluted earnings per share targets ("EPS"). 
  
 (2)   The Threshold Level Annual Target Bonus under the Management Plan is payable if the Company achieves its threshold
operating cash flow target and a minimum diluted EPS target for the fiscal year ended June 30, 2008. For purposes of the Management Plan, "operating cash flow" shall mean cash flow from operating activities, determined in accordance with United
States generally accepted accounting principles. The Threshold Level Annual Target Bonus under the Management Plan is payable if the Company achieves its threshold operating cash flow target and a minimum diluted EPS target for the fiscal year ended
June 30, 2008. For purposes of the Management Plan, "operating cash flow" shall mean cash flow from operating activities, determined in accordance with United States generally accepted accounting principles. 
  
 (3)   The Goal Level Annual Target Bonus under the Management Plan is payable
if the Company achieves its budgeted operating cash flow target and a minimum diluted EPS target for the fiscal year ended June 30, 2008. 
  
 (4)   The additional Superior Level Annual Target Bonus under the Management Plan is payable if the Company achieves the superior operating cash flow
target and a minimum diluted EPS target for the fiscal year ended June 30, 2008. 
  
 (5)   Mr. West does not participate in the Management Plan. He is eligible to receive a bonus of $25,000 based on the achievement by the Company's Greater China operations of budgeted EBITDA (earnings before interest, taxes,
depreciation and amortization) for the fiscal year ended June 30, 2008. 
  
  

 - 2 - 

 Long Term Incentive Plans 
  
 The Named Executives, other than Mr. West, participate in the Company's long-term incentive program (the "LTI
Program"), which currently involves the award of stock options, performance-based restricted stock, service-based restricted stock and market-based restricted stock as determined by the Compensation Committee pursuant to the Company's 2000 Stock
Incentive Plan and 2004 Stock Incentive Plan. Mr. West is eligible to receive stock incentive grants consistent with those made to the Company’s non-employee directors. Under the LTI Program, target annual long-term incentives ("LTI"), as
a percent of salary, for the following Named Executives for fiscal 2008 are as set forth in the following table: 
  

						
	 Named Executive
	  	 Position
	  	Target LTI %	 
	 E. Scott Beattie
	  	Chairman of the Board, President and Chief Executive Officer	  	225	%
	 Stephen J. Smith
	  	Executive Vice President and Chief Financial Officer	  	100	%
	 Jacobus A.J. Steffens
	  	Executive Vice President, General Manager - International	  	100	%
	 Joel B. Ronkin
	  	Executive Vice President, General Manager - North America Fragrances	  	100	%

  
 While the allocation
of the LTI components fluctuate from time-to-time, LTI is planned to be allocated to the Named Executives one-third to stock options, one-sixth to performance-based restricted stock, one sixth to service-based restricted stock and one-third to
market-based restricted stock, based on a value of the equity awards as determined by the Compensation Committee. Market-based restricted stock is typically awarded every three to six years depending on the achievement of Company financial targets.
Actual LTI grants may vary from the target LTI percentages based on the Compensation Committee's assessment of the Named Executive's job responsibilities, individual performance and market conditions. 
  
 Performance-Based Restricted Common Stock 
  
 Effective August 20, 2007, the Company awarded shares of
performance-based restricted common stock ("PBRS") to the Named Executives listed in the table below. The PBRS will vest in full on the second business day after the Company’s financial results for the fiscal year ended June 30, 2010 are
publicly announced, but only if the Named Executive receiving the grant is employed by the Company at the time of vesting and the Company achieves a specified cumulative EPS target for the fiscal years ended June 30, 2008, June 30,
2009 and June 30, 2010 (the "PBRS Goal Target"). If, however, the Company achieves a threshold cumulative diluted EPS during that same three-year fiscal period (the "PBRS Threshold"), but not the PBRS Goal Target, 50% percent of the PBRS
granted to a Named Executive will vest. For cumulative diluted EPS results between the PBRS Threshold and the PBRS Target, the number of shares of PBRS that will vest will be determined based on interpolation. 
  

					
	 Named Executive
	  	 Position
	  	PBRS Awarded
	 E. Scott Beattie
	  	Chairman of the Board, President and Chief Executive Officer	  	17,200
	 Stephen J. Smith
	  	Executive Vice President and Chief Financial Officer	  	6,900
	 Jacobus A.J. Steffens
	  	Executive Vice President, General Manager - International	  	2,800
	 Joel B. Ronkin
	  	Executive Vice President, General Manager - North America Fragrances	  	9,100

  
  
  

 - 3 - 

 Service-Based Restricted Stock 
  
 The Named Executives listed in the following table were granted shares of the Company's service-based restricted common
stock ("SBRS") that vest over a three year period in equal thirds two business days after the Company's release of its financial results for its fiscal years ending June 30, 2008, June 30, 2009 and June 30, 2010, as applicable,
if the Named Executive is still employed by the Company: 
  

					
	 Named Executive
	  	 Position
	  	SBRS
Awarded
	 E. Scott Beattie
	  	Chairman of the Board, President and Chief Executive Officer	  	17,200
	 Stephen J. Smith
	  	Executive Vice President and Chief Financial Officer	  	6,900
	 Jacobus A.J. Steffens
	  	Executive Vice President, General Manager - International	  	2,800
	 Joel B. Ronkin
	  	Executive Vice President, General Manager - North America Fragrances	  	9,100

  
 Stock Options 
  
 In recognition of performance for the fiscal year ended June 30, 2007,
the Board approved a grant of stock options on August 20, 2007 for shares of the Company's common stock, $.01 par value (the "Common Stock"), to the Named Executives listed in the table below. The stock options become exercisable over a
three-year period in equal thirds two business days after the Company's release of its financial results for its fiscal years ending June 30, 2008, June 30, 2009 and June 30, 2010, as applicable. The exercise price of the stock
options is $23.59 per share, which represents the closing price of the Common Stock on the date of grant. The stock options will expire ten years from the date of grant. 
  

					
	 Named Executive
	  	 Position
	  	Options
Awarded
	 E. Scott Beattie
	  	Chairman of the Board, President and Chief Executive Officer	  	88,000
	 Stephen J. Smith
	  	Executive Vice President and Chief Financial Officer	  	35,200
	 Jacobus A.J. Steffens
	  	Executive Vice President, General Manager - International	  	14,700
	 Joel B. Ronkin
	  	Executive Vice President, General Manager - North America Fragrances	  	46,900

  
 Benefit Plans and Other
Arrangements 
  
 In their current positions, the Named
Executives, with the exception of Mr. Steffens who is based in Geneva, Switzerland, are eligible to: 
  

	*	 	Participate in the Company's broad-based benefit programs generally available to its salaried employees, including health, disability and life insurance programs, qualified 401(k)
plans and (other than with respect to the Company's Chief Executive Officer) the ability to purchase shares of the Company’s common stock at a discount pursuant to the Amended 2002 Employee Stock Purchase Plan (the "ESPP").

  
  

 - 4 - 

	*	 	Receive a deferred cash award once a year equal to 3% of the Named Executive’s cash compensation (base salary plus Bonus earned during the prior twelve-month period), which
will become payable, one year from the date of award if the Named Executive is still employed by the Company. 

  

	*	 	Receive certain perquisites offered by the Company to executive officers, including an automobile allowance, tax preparation and financial planning services and, excluding Mr.
Smith, participate in an executive disability program. 

  
 Mr. Steffens is eligible to participate in the Company’s broad-based benefit programs generally available to all salaried employees in Geneva, Switzerland, including health, disability, life and other insurance programs, a lunch
allowance program, a pension plan and the ability to purchase shares of Common Stock at a discount under the ESPP. In addition, the Company pays pre-university education expenses for Mr. Steffen’s children as long as he is employed by the
Company. 
  
 Severance and Change-in-Control Arrangements 
  
 In addition to the benefit plans and other arrangements listed above, each
of our Named Executives (other than Mr. West) is entitled to benefits under a severance and change-in-control policy. Under the policy, the Named Executive receives severance benefits, based on his or her position and responsibility, in the
event the executive's employment is terminated without "cause" and is not the result of a resignation, disability or death. Currently, the severance benefit for our Chief Executive Officer is 24 months of base salary on the effective date of
termination, and the severance benefit for our other Named Executives is 12 months of base salary on the effective date of termination. 
  
 Under the change in control severance arrangement, a severance benefit is paid to Named Executives based on a "base amount" only if there is an actual
termination of employment by the Company without “cause” (other than due to death or disability) or a constructive termination of employment (e.g., a materially adverse change in job authority, duty or responsibility) within the two years
following a change in control. "Base amount" is the average annual salary plus average bonus the executive has received over the most recent five-fiscal-year period. Currently, the severance benefit due upon a termination of employment without cause
or a constructive termination within the two years following a change in control is as follows: (a) our Chief Executive Officer, 2.99 times the base amount; and (b) for all other Named Executives other than Mr. West, 1.5 times the
base amount. 
  
 Pursuant to the terms of our stock incentive
grant agreements, all unvested stock options granted and restricted stock awarded to our employees, including our Named Executives, provide that in the event of a change in control of our company as defined in the stock incentive plans, all stock
options and restricted stock that has not already vested would automatically become fully vested. 
  

 - 5 -Elizabeth Arden, Inc. Severance Policy.

 Exhibit 10.31 
 ELIZABETH ARDEN, INC. 
 SEVERANCE POLICY 
 1.0 Introduction 
 This Policy was adopted by the
Compensation Committee of the Board of Directors of Elizabeth Arden, Inc. (the “Company”) on March 22, 2002, and is intended to help the Company achieve its goals of attracting and retaining key management personnel who are critical
to the long-term success and competitiveness of the Company. 
 2.0 Definitions 
 For purposes of this Policy, the following capitalized terms shall have the meanings set forth below. Non-capitalized terms shall have their ordinary
meanings. 
 “Affiliate” shall mean any person, limited liability company, corporation, partnership, association or any
other entity controlling, controlled by or under common control with the Company. “Control” shall mean the ownership by the Company of greater than fifty (50%) of the voting interests of such person or any other such arrangement as
constitutes the possession, directly or indirectly, of power to direct or cause the direction of management or policies of any such person, corporation or entity, through ownership of voting securities, by contract or otherwise. 
 “Base Amount” shall mean the average annual base salary plus average bonus paid to a Covered Employee during the most recently completed
five fiscal years. 
 “Base Salary” shall mean the weekly or monthly base salary, as the context requires, of a Covered
Employee as of the effective date of termination of a Covered Employee’s employment. 
 “Cause” shall mean 

(a) any violation by a Covered Employee of the Company’s Code of Business Conduct or any other material Company policy applicable to the Covered
Employee; 
 (b) the commission of an intentional act of fraud, embezzlement, theft or dishonesty against the Company by the Covered
Employee; 
 (c) the conviction of a Covered Employee for (or the pleading by a Covered Employee of nolo contendere to) any crime
which constitutes a felony, or a misdemeanor involving moral turpitude, or which, in the reasonable opinion of the Company, has caused material embarrassment to the Company; 

 (d) the gross neglect or willful failure by a Covered Employee to perform his/her duties and
responsibilities in all material respects, if such breach of duty is not cured within 10 days after receipt of written notice thereof to the Covered Employee by the Company or its Board of Directors; or 
 (e) a Covered Employee’s failure to obey the reasonable and lawful orders or instructions of the Chief Executive Officer, the Covered
Employee’s supervisor or the Board of Directors, unless such failure is cured within 10 days after receipt of written notice thereof to the Covered Employee by the Company or the Board of Directors. 
 For purposes of clause (d), no act, or failure to act, on the part of a Covered Employee shall be deemed “willful” unless done, or omitted to be done, by the
Covered Employee other than in good faith and without reasonable belief that such act, or failure to act, was in the best interest of the Company. 
 “Change of Control” shall mean the occurrence of any of the following events: 
 (i) the
consummation of any transaction or series of transactions (including, without limitation, any merger or consolidation) the result of which is that any “person” (as such term is used in Section 13(d)(3) of the Securities Exchange Act
of 1934, as amended (the “Exchange Act”)) becomes the “beneficial owner” (as such term is defined in Rule 13d–3 and Rule 13d–5 under the Exchange Act), directly or indirectly, of (a) 35% or more of the voting
interests of the Company and (b) more of the voting interests of the Company than are, in the aggregate, beneficially owned by the Principals and their Affiliates at the time of such consummation; or 
 (ii) during any period of two (2) consecutive years, the individuals who at the beginning of such period constitute the
Company’s Board of Directors or any individuals who would be Continuing Directors cease for any reason (other than due to death or voluntary resignation) to constitute at least a majority thereof; or 
 (iii) the Company’s Board of Directors shall approve a sale, lease, transfer, conveyance or other disposition of all or substantially
all of the assets of the Company, and such transaction shall have been consummated; or 
 (iv) the Company’s Board of
Directors shall approve any merger, consolidation, or like business combination or reorganization of the Company, the consummation of which would result in the occurrence of any event described in clause (i) above, and such transaction shall
have been consummated. 
 “Continuing Directors” shall mean (x) the directors of the Company in office on
March 22, 2002 (the “Effective Date”) and (y) any successor to any such director and any 

  

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additional director, in each case, who after the Effective Date was nominated or selected by a majority of the Continuing Directors (or the Nominating and
Corporate Governance Committee of the Board of Directors of the Company consisting of Continuing Directors) in office at the time of his or her nomination or selection. 
 “Covered Employee” shall mean any U.S.-based executive officer, senior vice president or vice president of the Company and any officer of an Affiliate of the Company that is an “executive
officer” of the Company for purposes of the Securities Exchange Act of 1934, as amended. 
 “Good Reason” shall mean

 (a) that without the Covered Employee’s prior written consent and in the absence of Cause, one or more of the following events
occurs: 
 (i) any materially adverse change in the Covered Employee’s authority, duties, or responsibilities or any assignment to
the Covered Employee of duties and responsibilities materially inconsistent with those normally associated with the Covered Employee’s position; or 
 (ii) the Covered Employee is required to be primarily based at any office more fifty (50) miles outside the metropolitan area of the Covered Employee’s then current business address, excluding travel
reasonably required in the performance of the Covered Employee’s responsibilities; and 
 (b) within sixty (60) calendar days of
learning of the occurrence of any event specified in clause (a), and in the absence of any circumstances that constitute Cause, the Covered Employee terminates employment with the Company, by written notice to the Company; provided, however, that
the events set forth in subparagraphs (a)(i) or (a)(ii) shall not constitute Good Reason for purposes of this Policy unless, within thirty (30) calendar days of a Covered Employee’s learning of such event, the Covered Employee gives
written notice of the event to the Company, and the Company fails to remedy such event within thirty (30) calendar days of receipt of such notice. 
 “Permanent Disability” shall mean the Covered Employee’s inability to perform such Covered Employee’s duties and responsibilities for a period of 90 consecutive days or 120 non-consecutive
days, in either event in any 12 month period, due to illness, accident or any other physical or mental incapacity, as reasonably determined by a physician selected in good faith by the Company. 
 “Principals” shall mean William Tatham, E. Scott Beattie, J. W. Nevil Thomas, Fred Berens, Richard C. W. Mauran, Maura J. Clark, and
Paul West. 
 “Section 409A” shall mean Section 409A of the Internal Revenue Code of 1986, as amended. 
  

 3 

 “Specified Employee” shall have the same meaning as such term is given for purposes of
Section 409A. 
 3.0 Termination without Cause 
 Subject to the provisions of Section 5 below, in the event that the employment of a Covered Employee is terminated by the Company without Cause (other than (i) after a Change of Control as discussed in
Section 4.0 below or (ii) upon the death or Permanent Disability of the Covered Employee), such Covered Employee shall be entitled to a lump sum severance payment equal to the greater of (a) two weeks of Base Salary for every year of
such Covered Employee’s employment with the Company, not to exceed a maximum of one year of Base Salary, or (b) the applicable amount calculated in accordance with the following schedule: 
  

			
	 Tier
	  	 Severance

	I – Chief Executive Officer	  	24 months of Base Salary
	II – President (if title not also held by CEO)	  	18 months of Base Salary
	III – Executive Vice President	  	12 months of Base Salary
	IV – Senior Vice President	  	9 months of Base Salary
	V – Vice President	  	6 months of Base Salary

 4.0 Termination after a Change of Control 
 Subject to the provisions of Section 5 below, if (i) a Change of Control occurs and (ii) the employment of a Covered Employee is terminated
(other than upon the death or Permanent Disability of the Covered Employee) either (a) without Cause within two years of the Change of Control, or (b) by the Covered Employee for Good Reason within two years of the Change of Control, then
such Covered Employee shall be entitled to a lump sum severance payment equal to the applicable amount calculated in accordance with the following schedule: 
  

			
	 Tier
	  	 Severance

	 I – Chief Executive Officer
	  	2.99 times the Base Amount
	 II – President (if title not also held by CEO)
	  	2.0 times the Base Amount
	 III – Executive Vice President
	  	1.5 times the Base Amount
	 IV – Senior Vice President
	  	1.0 times the Base Amount

 5.0 Conditions to and Timing of Payments 
 No severance payment shall be made to a Covered Employee under this Policy unless such Covered Employee shall have first executed and delivered to the
Company a waiver, general release and separation agreement in favor of the Company and its Affiliates releasing the Company and its Affiliates from any and all claims relating to such Covered Employee’s (i) employment with the Company and
(ii) termination of employment (the “Release”). The Release shall include confidentiality and non-disparagement provisions and shall otherwise be in form and substance satisfactory to the Company. 
  

 4 

 To the extent permissible under Section 409A, any severance payment made pursuant to this Policy
shall be made by the Company within sixty (60) days of the effective date of the Covered Employee’s termination. 
 Notwithstanding
the provisions of the preceding paragraph, to the extent (i) a severance payment under this Policy is determined by the Company to be subject to Section 409A and (ii) is to be made to a Specified Employee who would be subject to a
penalty tax under Section 409A, any such severance payment shall be made by the Company on the first day of the seventh month following the effective date of such Covered Employee’s termination. 
 6.0 Benefits 
 The Compensation Committee shall have
the discretion to increase any severance payment due pursuant to this Policy to provide for COBRA health insurance premiums and/or such other termination-related benefits (such as outplacement services, relocation expenses and similar items) as the
Compensation Committee may determine are reasonable in the context, provided, however, that any amount to be paid to a Covered Employee with respect to such health insurance premiums and/or other termination-related benefits shall be paid in a
single lump sum at the same time as severance payments are to be made pursuant to the provisions of Section 5 of this Policy. 
 7.0 Policy Changes

 The Company reserves the right to amend or modify this Policy at any time without prior notice, provided that, without the written
approval of any affected Covered Employee, no such amendment or modification made subsequent to the occurrence of a Change of Control shall alter or impair the benefits that might be payable to a Covered Employee hereunder as a result of a
termination of employment following such Change of Control. This Policy will also change from time to time as the terms and phrases used in this Policy are modified by rule or law. 
 8.0 Interpretation 
 The Compensation Committee of the Board of Directors shall administer and
interpret this Policy. This Policy is intended to comply with the provisions of Section 409A, and the provisions of this Policy shall be interpreted in a manner consistent with the applicable requirements of Section 409A and any rules or
regulations issued pursuant thereto. 
  

 5

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