Document:

EXHIBIT 10.76

                              EMPLOYMENT AGREEMENT
                              --------------------

         Agreement (the "Agreement") dated as of June 1, 2003 between Parlux
Fragrances, Inc., a corporation of the State of Delaware with offices located at
3725 S.W. 30th Avenue, Fort Lauderdale, Florida 33312 (hereinafter called the
"Company"), and Frank A. Buttacavoli, residing at 5451 Alton Road, Miami Beach,
Florida 33140 (hereinafter called the "Executive").

                                    WITNESSETH

         WHEREAS, the Company desires to continue the employment of the
Executive and the Executive is willing to be employed by the Company and accepts
such employment;

         WHEREAS, the Company and the Executive (hereinafter sometimes referred
to as "the parties") are parties to an existing Employment Agreement extending
through March 31, 2006, which is hereby terminated without liability to either
party.

         NOW THEREFORE, in consideration of the mutual promises and covenants
herein contained intending to be legally bound, the parties do hereby agree as
follows:

         1. Employment. The Company agrees to employ the Executive and the
Executive hereby accepts the terms and conditions hereinafter set forth, for a
period commencing on June 1, 2005 and ending on March 31, 2009 (the "Initial
Term") (unless terminated as specifically provided for in this Agreement).
Upon expiration of the Initial Term, the Executive's term of employment shall be
extended for an additional three (3) year period, unless either party gives
written notice of its intention not to renew this Agreement at least six (6)
months prior to the expiration of the Initial Term, in which case the
Executive's term of employment shall end upon such expiration.

         2. Position and Duties. The Executive shall serve as Executive Vice
President, Chief Operating Officer and Chief Financial Officer of the Company
and shall have the powers and duties as may from time to time be prescribed by
the Company's Chief Executive Officer and Board of Directors (the "Board"),
provided that the Executive's duties are consistent with the Executive's
position as a senior executive officer involved with the general management of
the Company. The Executive shall report to the Chief Executive Officer.

         3. Place of Performance. In connection with his employment by the
Company, the Executive shall be based, and the duties to be performed, shall be
performed at the Company's principal executive offices located in Broward County
or Dade County, South Florida. Such office shall not be further relocated
without the Executive's consent.

         4. Compensation and Related Matters.

         (a) Base Salary: The Executive shall receive a base salary, exclusive
of benefits (the "Base Salary"), in substantially equal monthly or bi-weekly
installments as follows:

         (i) For the period commencing June 1, 2005 through March 31, 2006, at
the annual rate of $285,000; for the period commencing on April 1, 2006 and
ending on March 31, 2007, at the annual rate of $325,000; for the period
commencing on April 1, 2007 and ending on March 31, 2008, at the annual rate of
$350,000; and for the period commencing on April 1, 2008 and ending on March 31,
2009, at the annual rate of $400,000.

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         (b) Expenses: During the term of his employment under this Agreement,
the Executive shall be entitled to receive prompt reimbursement for all
reasonable business expenses incurred by him in accordance with the policies and
procedures of the Company for reimbursement of business expenses by its senior
executive officers, provided that the Executive accounts for the expenses in
accordance with the Company's policies.

         (c) Other Benefits: The Executive shall be entitled to participate in
or receive benefits under all executive benefit plans and arrangements made
available by the Company at any time to its employees and key management
executives. Nothing paid to the Executive under any plan or arrangement
presently in effect or made available in the future shall be deemed to be in
lieu of the Base Salary or any other obligation payable to the Executive
pursuant to this Agreement.

         (d) Vacations: The Executive shall be entitled to the number of paid
vacation days in each fiscal year determined by the Company from time to time
for its senior executive officers, but not less than four weeks in any fiscal
year.

(e) Perquisites: The Executive shall be entitled to receive all perquisites and
fringe benefits provided or available to senior executive officers of the
Company in accordance with present practice and as may be changed from time to
time with respect to all senior executive officers of the Company.

         (f) Stock Options: There are no stock options (warrants) granted with
this Agreement. The rights of the Executive with respect to any stock options
(warrants) previously granted to the Executive shall be determined exclusively
by the plans and agreements relating to the options (warrants) and this
Agreement shall not affect in any way the rights and obligations of the plans
and agreements.

         5. Non-competition; unauthorized disclosure:

         (a) No material competition: Except with respect to services performed
under this Agreement on behalf of the Company, and subject to the obligations of
the Executive as an officer of the Company and the employment obligations of the
Executive under this Agreement, the Executive agrees that at no time during the
term of this Agreement or, for a period of one year immediately following any
termination of this Agreement for any reason other than a change in control as
defined in Section 6 (d) of this Agreement, will he engage in any business if,
within thirty (30) days of the Executive advising the Company in writing of his
proposed business activity, the Board determines in good faith that such
proposed business activity is directly competitive with a material part of the
business of the Company and its subsidiaries (both present and future) and such
competitive business activity is reasonably likely to materially affect in an
adverse manner the consolidated sales, profits or financial condition of the
Company.

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         (b) Unauthorized disclosures: During the period of his employment under
this Agreement, the Executive shall not, without the written consent of the
Board or a person authorized by the Board, disclose to any person, other than an
Executive of the Company or person to whom disclosure is reasonably necessary or
appropriate in connection with the performance by the Executive of his duties as
an executive of the company, any material confidential information obtained by
him while in the employ of the company with respect to any of the Company's
customers, suppliers, creditors, lenders, investment bankers or methods of
marketing, the disclosure of which he knows will materially damage the Company;
provided, however, that confidential information shall not include any
information known generally to the public (other than as a result of
unauthorized disclosure by the Executive) or any information of a type not
otherwise considered confidential by persons engaged in the same business or a
business similar to that conducted by the Company. For the period ending one
year following the termination of employment under this Agreement for any
reason, the Executive shall not disclose any confidential information of the
type described above except as determined by him to be reasonably necessary in
connection with any business or activity in which he is then engaged.

         (c) Certain Provisions: The limitations of Section 5 (a) shall
terminate if upon termination of this Agreement for any reason the Company does
not fulfill its obligations as required by Section 7 of this Agreement; however,
such termination shall not affect the rights of the Executive to receive all
payments he is entitled to receive under Section 7. The provisions of Section 5
shall apply during the time the Executive is receiving any payments from the
Company as a result of a termination of this Agreement pursuant to Section 6
(b).

         6. Termination. The Company may terminate the Executive's employment
under this Agreement prior to the expiration of the term set forth in Section 1
only under the following circumstances:

         (a) Death. Upon the Executive's death.

         (b) Disability. If, as a result of the Executive's incapacity due to
physical or mental illness, the Executive shall have been absent from his duties
under this Agreement on a full time basis for 120 calendar days during any
calendar year, then 30 days after written notice of termination is given to the
Executive (which may only be given after the end of the 120 day period),
provided that he has not returned to his duties under this Agreement on a full
time basis.

         (c) Cause. For Cause. The Company shall have "Cause" to terminate the
Executive's employment under this Agreement upon (A) the willful and continued
failure by the Executive to substantially perform his duties under this
Agreement (other than any failure resulting from the Executive's incapacity due
to physical or mental illness) for thirty (30) days after written demand for
substantial performance is delivered by the Company specifically identifying the
manner in which the Company believes the Executive has not substantially
performed his duties, or (B) the willful engaging by the Executive in misconduct
(including embezzlement and criminal fraud) which is materially injurious to
the Company, or (C) the willful violation by the Executive of Section 5 of this
Agreement, provided that the violation results in material injury to the
Company, or (D) the conviction of the Executive of a felony. For purposes of

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this paragraph, no act, or failure to act, by the Executive shall be considered
"willful" unless done or omitted to be done, by him not in good faith and
without reasonable belief that his action or omission was in the interest of the
Company. The Executive shall not be deemed to have been terminated for Cause
unless and until there shall have been delivered to the Executive a copy of a
resolution, duly adopted by the affirmative vote of a majority of the entire
membership of the Board at a meeting of the Board called and held for such
purpose (after a reasonable notice to the Executive and an opportunity for him,
together with his counsel, to be heard before the Board), finding that in the
good faith opinion of the Board the Executive was guilty of conduct set forth
above in clause (A), (B), (C) or (D) and specifying the particulars of the
conduct in detail.

         (d) Termination by the Executive. The Executive may terminate his
employment under this Agreement (i) for Good Reason (as defined below) or (ii)
if his health should become impaired to any extent that makes the continued
performance of his duties under this Agreement hazardous to his physical or
mental health or his life, provided that the Executive shall have furnished the
Company with a written statement from a qualified doctor to that effect and
provided further that at the Company's request and expense the Executive shall
submit to an examination by a doctor selected by the Company, and the doctor
shall have concurred in the conclusion of the Executive's doctor.

         "Good Reason" means the Company has (through its Board or otherwise)
(A) limited the powers of the Executive in any manner not contemplated by
Section 2, (B) failed to comply with Section 3 or 4, (C) failed to cause any
successor as contemplated in Section 8 of this Agreement to assume this
Agreement, or (D) a change in control. The Executive shall give the Company 30
days prior written notice of his intent to terminate this Agreement as a result
of clause (A), (B), (C) or (D) and the Company shall have the right to cure
within the 30 day period. For purposes of this Agreement, a change in control
means the occurrence of one or more of the following events (whether or not
approved by the Board): (i) an event or series of events by which any person or
other entity or group of persons or other entities acting in concert as
determined in accordance with Section 13 (d) of the Securities Exchange Act of
1934, as amended (the "Exchange Act"), whether or not applicable, together
with its or their affiliates or associates shall, as a result of a tender offer
or exchange offer, open market purchases, privately negotiated purchases, merger
or otherwise (including pursuant to receipt of revocable proxies) (A) be or
become directly or indirectly the beneficial owner (within the meaning of Rule
13d-3 and Rule 13d-5 under the Exchange Act, whether or not applicable, except
that a person shall be deemed to have beneficial ownership of all securities
that such person has the right to acquire whether such right is exercisable
immediately or only after the passage of time) of more than 30% of the combined
voting power of the then outstanding common stock of the Company or (B)
otherwise have the ability to elect, directly or indirectly, a majority of the
members of the Board.

         (e) Notice of Termination. Any termination of the Executive's
employment by the Company or by the Executive (other than termination pursuant
to subsection (a) above) shall be communicated by written Notice of Termination
to the other party of this Agreement. "Notice of Termination" means a notice
which indicates the specific termination provision in this Agreement relied upon
and shall set forth in reasonable detail the facts and circumstances claimed to
provide a basis for termination of the Executive's employment under the
provision so indicated.

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         (f) Date of Termination. Date of termination means (i) if the
Executive's employment is terminated by his death, the date of his death, (ii)
if the Executive's employment is terminated pursuant to subsection (b) above, 30
days after Notice of Termination is given (provided that the Executive shall
not have returned to the performance of his duties on a full-time basis during
the 30 day period), (iii) if the Executive's employment is terminated pursuant
to subsection (c) above, the date specified in the Notice of Termination after
the expiration of any cure periods, and (iv) if the Executive's employment is
terminated for any other reason, the date on which Notice of Termination is
given.

         7. Compensation Upon Termination or During Disability:

         (a) Upon the Executive's death, the Company shall pay to the person
designated by the Executive in a notice filed with the Company or, if no person
is designated, to his estate as a lump sum death benefit, his full Base Salary
for a period of six months after the date of his death in addition to any
payments the Executive's spouse, beneficiaries or estate may be entitled to
receive pursuant to any pension, stock option or Executive benefit plan or life
insurance policy or similar plan or policy then maintained by the Company. Upon
full payment of all amounts required to be paid under this subsection, the
Company shall have no further obligation under this Agreement.

         (b) During any period that the Executive fails to perform his duties
under this Agreement as a result of incapacity due to physical or mental
illness, the Executive shall continue to receive his full base salary until the
Executive's employment is terminated pursuant to Section 6 (b) of this
Agreement, or until the Executive terminates his employment pursuant to Section
6 (d) (ii) of this Agreement, whichever comes first. After termination, the
Executive shall receive in equal monthly installments 100% of his base salary at
the rate in effect at the time Notice of Termination is delivered for one year,
plus any disability payments otherwise payable by or pursuant to plans provided
by the Company ("Disability Payments")

         (c) If the Executive's employment is terminated for Cause, the Company
shall pay the Executive his full base salary through the date of termination at
the rate in effect at the time Notice of Termination is delivered and the
Company shall have no further obligation to the Executive under this Agreement.

         (d) If (A) in breach of this Agreement, the Company shall terminate the
Executive's employment other than pursuant to Sections 6 (b) or 6 (c) (it being
understood that a purported termination pursuant to Sections 6 (b) or 6 (c)
which is disputed and finally determined not to have been proper shall be a
termination by the Company in breach of this Agreement), or (B) the Executive
shall terminate his employment for Good Reason, then

         (i) The Company shall pay the Executive his full base salary through
the date of termination at the rate then in effect at the time Notice of
Termination is given;

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         (ii) in lieu of any further salary payments to the Executive for
periods subsequent to the Date of Termination and in consideration of the rights
of the Company under Section 5 of this Agreement, the Company shall pay
severance pay to the Executive on the fifth day following the date of
termination, in a lump sum amount equal to the entire salary due until the end
of the term of this Agreement based on an annual base salary at the highest rate
in effect during the twelve (12) months immediately preceding the date of
Termination.

         (iii) In the event of a change in control of the Company as defined in
Section 6 (d), the Company shall pay in a lump sum payment (or in monthly
installments at the option of the Executive) the greater of twice the amount of
severance pay required in Section 7 (d) (ii) above, or three times the annual
base salary at the highest rate in effect during the twelve (12) months
immediately preceding the date of the termination.

         (iv) In the event of a change in control of the Company as defined in
Section 6 (d) above, the total number of outstanding unexercised options
(warrants) granted to the Executive under this Agreement or any previous
employment or other agreements, shall be doubled in quantity while retaining the
original exercise price.

         (v) The Company shall pay all reasonable legal fees and expenses
incurred by the Executive in contesting or disputing any such termination or in
seeking to obtain or enforce any right or benefit in this Agreement.

         (e) Unless the Executive is terminated for Cause, the Company shall
maintain in full force and effect, for the continued benefit of the Executive
for the greater of the remaining term of this Agreement or eighteen (18)
months after termination of this Agreement, all Executive health and
hospitalization plans and programs in which the Executive was entitled to
participate in immediately prior to the Date of Termination, provided that the
Executive's continued participation is possible under the general terms and
provisions of the plans and programs. If the Executive's participation in any
plan or program is barred, the Company shall arrange to provide the Executive
with benefits substantially similar to those which the Executive would otherwise
have been entitled to receive under the plan and program from which his
continued participation is barred.

         (f) The Executive shall not be required to mitigate the amount of any
payment provided for in this Section 7 by seeking other employment or otherwise,
however, the amount of any payment provided for in this Section 7 shall not be
reduced by any compensation earned by the Executive as the result of employment
by another employer after the Date of Termination.

         (g) In the event of a termination of this Agreement by the Executive
for Good Reason as a result of a change in control, the amount to be utilized in
Section 7 (d) (ii) shall be changed to the average compensation of the Executive
during this Agreement for the taxable years prior to such termination (all as
determined to compute the base amount for purposes of Section 280G of the
Internal Revenue Code of 1984, as amended).

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<PAGE>

         8. Successors; Binding Agreement:

         (a) The Company will require any successor (whether direct or
indirect, by purchase, merger, consolidation or otherwise) to all or
substantially all of the business and/or assets of the Company, by agreement in
form and substance satisfactory to the Executive, to expressly assume and agree
to perform this Agreement in the same manner and to the same extent that the
Company would be required to perform it if no such succession had taken place.
Failure of the Company to obtain an assumption of this Agreement prior to or
simultaneously with the effectiveness of any such succession shall be a breach
of this Agreement and shall entitle the Executive to compensation from the
Company in the same amount and on the same terms as he would be entitled to
under this Agreement if he terminated his employment for Good Reason, except for
purposes of implementing the foregoing, the date on which any such succession
becomes effective shall be deemed the date of termination. As used in this
Agreement, "Company" shall mean the Company as previously defined and any
successor to its business and/or assets which executes and delivers the
agreement provided for in this Section 8 or which otherwise becomes bound by all
the terms and provisions of this Agreement by operation of law.

         (b) This Agreement and all rights of the Executive under this Agreement
shall inure to the benefit of and be enforceable by the Executive's personal or
legal representatives, executors, administrators, successors, heirs,
distributees, devisees and legatees. If the Executive should die while any
amounts would still be payable to him under this Agreement, including all
payments payable under Section 7, if he had continued to live, all such amounts
shall be paid in accordance with the terms of this Agreement to the Executive's
devisee, legatee, or other designee or, if there is no such designee, the
Executive's estate.
9. Notice: For the purpose of this Agreement, notices and all other
communications provided for in the Agreement shall be in writing and shall be
deemed to have been duly given when delivered or mailed by United States
registered mail, return receipt requested, postage prepaid, addressed as
follows:

               If to the Executive:           Mr. Frank A. Buttacavoli
                                              5451 Alton Road
                                              Miami Beach, Florida 33140

               If to the Company:             Parlux Fragrances, Inc.
                                              3725 S.W. 30th Avenue
                                              Fort Lauderdale, Florida 33312
                                              Attention: Board of Directors

or to such other address as any party may have furnished to the others in
writing in accordance herewith, except with notices of change of address which
shall be effective only upon receipt.

         10. Entire Agreement: No provisions of this Agreement may be modified,
waived or discharged unless such is signed by the Executive and the officer of
the Company which is specifically designated by the Board. No Agreements or
representations, oral or otherwise, expressed or implied, with respect to the
subject matter of this Agreement have been made by either party which are not
set forth expressly in this Agreement and this Agreement supersedes any other
employment agreement between the Company and the Executive.

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         11. Waiver of Breach: No waiver by either party to this Agreement of,
or compliance with, any condition or provision of this Agreement to be performed
by such other party shall be deemed a waiver of any other provision or condition
at any prior or subsequent time.

         12. Headings: The section headings contained in this Agreement have
been inserted only as a matter of convenience or reference and in no way define,
limit or describe the scope or intent of any provisions of this Agreement nor in
any way affect any of these provisions.

         13. Governing Law: The validity, interpretation, construction and
performance of this Agreement shall be governed by the laws of the State of
Florida, without giving effect to conflict of law principles.

         14. Severability: The invalidity or unenforceability of any provision
or provisions of this Agreement shall not effect the validity or enforceability
of any other provision of this Agreement, which shall remain in full force and
effect.

         IN WITNESS WHEREOF, the parties have executed this Agreement on the
date and year first above written.

ATTEST:                                      PARLUX FRAGRANCES, INC.

s/s Esther Egozi Choukroun                   By: s/s David Stone
---------------------------------                ------------------------------
        Witness                                  David Stone, Chairman,
                                                 Compensation Committee

s/s Glen H. Gopman                               s/s Frank A. Buttacavoli
---------------------------------                ------------------------------
        Witness                                  Frank A. Buttacavoli, Executive

                                       8EXHIBIT 10.77

                              CONSULTING AGREEMENT
                              --------------------

This Consulting Agreement (hereinafter "Agreement") dated as of June 1, 2005,
between PARLUX FRAGRANCES, INC., a corporation organized and existing under the
laws of the State of Delaware (hereinafter "Corporation") and COSMIX, INC. 175
East 62nd Street, New York, New York 10021 (hereinafter "Consultant"), and
Frederick E. Purches (hereinafter "Purches"), the President of Consultant
residing at 175 East 62nd Street, New York, New York 10021. Collectively
hereinafter referred to as "Parties".

WHEREAS, Corporation, Consultant and Purches are parties to a Consulting
Agreement extending through March 31, 2006 which is hereby terminated without
liability to either party.

WHEREAS, the parties wish to enter into a new Consulting Agreement under revised
terms and conditions set forth herein;

NOW, THEREFORE, in consideration of the mutual understanding set forth herein,
the Parties agree as follows:

1.     Consultant's Duties: The Corporation hereby engages the Consultant as its
       business and financial consultant. Subject at all times to the control
       and direction of the Corporation's Chief Executive Officer, Chief
       Operating Officer and Chief Financial Officer (hereinafter Management),
       the Consultant shall have the duties as the general advisor and
       consultant to Management on all matters pertaining to the business and to
       render all other services relevant thereto. The Consultant, by Purches,
       shall perform all other duties that may be reasonably assigned to it by
       Management provided said duties be consistent with the prestige and
       responsibility of Purches's position. The Consultant shall, through its
       agents, servants and employees, devote its best efforts at all times
       necessary to perform its duties and to advance the Corporation's best
       interests, subject to reasonable vacations. The Consultant and the
       Corporation acknowledge that the Consultant and its agents, servants and
       employees have other business interests and shall not be required to
       devote its exclusive time and attention to the performance of its duties
       hereunder.

2.     Term: Unless sooner terminated as provided in Section 7 below, this
       Agreement shall be for a term of three (3) years and ten (10) months
       commencing as of June 1, 2005 and ending on March 31, 2009; provided
       however, that the term of this Agreement shall be automatically extended
       on the same terms and conditions for a one year period and from year to
       year thereafter unless either the Corporation or the Consultant shall
       give written notice of the termination of this Agreement to the other at
       least six (6) months prior to the expiration of said term or extended
       term.

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CONSULTING AGREEMENT
Page 2 of 2

3.     Compensation: For all services rendered by the Consultant under this
       Agreement, the Corporation shall pay to Consultant as compensation the
       sum of $125,000 per annum, payable in equal bi-weekly installments of
       $4,807.69.

4.     Health and Life Insurance: The Corporation shall, at no cost to the
       Consultant or Purches, provide Purches with full health insurance, basic,
       major medical and dental as well as group life insurance. Said coverage
       shall be identical to that afforded the Corporation's Management.

5.     Expenses: Consultant will be reimbursed by the Corporation for all
       reasonable business expenses incurred by the Consultant in the
       performance of its duties. Said reimbursement shall be made no less
       frequently than monthly upon submission by the Consultant of a written
       request for same.

6.     Stock Options (Warrants): There are no stock options (warrants) being
       granted with this agreement. The rights of Purches with respect to any
       stock option (warrant) previously granted to Purches shall be determined
       exclusively by the plans and agreements relating to the options
       (warrants) and this Agreement shall not affect, in any way the rights and
       obligations of the plans and agreements.

7.     Early Termination: The Corporation may terminate the Consultant's
       relationship under this Agreement prior to the expiration of the term set
       forth in Section 2 above only under the following circumstances:

       (i)    Death. Upon the death of Purches.

       (ii)   Disability. If, as a result of Purches's incapacity due to
              physical or mental illness, Purches having been unable to perform
              his duties under this Agreement for a period of six consecutive
              calendar months, then thirty (30) days after written notice of
              termination is given to Consultant (which may only be given after
              the end of the six consecutive calendar month period) provided
              that Purches has not returned to his duties under this Agreement.

       (iii)  Cause. For Cause. The Corporation shall have "Cause" to terminate
              this Agreement upon

              (a)    the willful and continued failure by Consultant to
                     substantially perform its duties under this Agreement
                     (other than any failure resulting from Purches's incapacity
                     due to physical or mental illness) for thirty (30) days
                     after written demand for substantial performance is
                     delivered by the Corporation specifically identifying the
                     manner in which the Corporation believes Consultant has not
                     substantially performed its duties, or (b) the willful
                     engaging by Consultant or Purches in misconduct (including
                     embezzlement and criminal fraud) which is

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CONSULTING AGREEMENT
Page 3 of 3

                     materially injurious to the Corporation, or (c) the
                     conviction of Purches of a felony. For purposes of this
                     paragraph, no act, or failure to act, by the Consultant
                     shall be considered "willful" unless done or omitted to be
                     done, by Consultant not in good faith and without
                     reasonable belief that its action or omission was in the
                     interest of the Corporation. Consultant shall not be deemed
                     to have been terminated for Cause unless and until there
                     shall have been delivered to Consultant a copy of a
                     resolution, duly adopted by the affirmative vote of a
                     majority of the entire membership of the Board of Directors
                     (Board) at a meeting of the Board called and held for such
                     purpose (after a reasonable notice to the Consultant and an
                     opportunity for Consultant, together with its counsel, to
                     be heard before the Board), finding that in the good faith
                     opinion of the Board, Consultant was guilty of conduct set
                     forth above and specifying the particulars of the conduct
                     in detail.

       (iv)   Termination by Consultant or Purches. Consultant or Purches may
              terminate this Agreement (a) for Good Reason (as defined below) or
              (b) Purches's health should become impaired to any extent that
              makes the performance of his duties under this Agreement hazardous
              to his physical or mental health or his life, provided that
              Purches shall have furnished the Corporation with a written
              statement from a qualified doctor to that effect and provided
              further that at the Corporation's request and expense Purches
              shall submit to an examination by a doctor selected by the
              Corporation, and the doctor shall have concurred in the conclusion
              of Purches's doctor. Consultant shall give the Corporation thirty
              (30) days prior written notice of its intent to terminate this
              agreement.

              "Good Reason" means the Corporation has had a Change in Control.
              For purposes of this Agreement, a Change in Control means the
              occurrence of an event or series of events (whether or not
              approved by the Board) by which any person or other entity or
              group of persons or other entities acting in concert as determined
              in accordance with Section 12 (d) of the Securities Exchange Act
              of 1934, as amended (the "Exchange Act"), whether or not
              applicable, together with its or their affiliates or associates
              shall, as a result of a tender offer or exchange offer, open
              market purchases, privately negotiated purchases, merger or
              otherwise (including pursuant to receipt of revocable proxies) (a)
              be or become directly or indirectly the beneficial owner (within
              the meaning of Rule 13d-3 and Rule 13d-5 under the Exchange Act,
              whether or not applicable, except that a person shall be deemed to
              have beneficial ownership of all securities that such person has
              the right to acquire whether such right is exercisable immediately
              or only after the passage of time) of more than (30) percent of
              the combined voting power of the then outstanding common stock of
              the Corporation or (b) otherwise have the ability to elect,
              directly or indirectly, a majority of the Board.

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CONSULTING AGREEMENT
Page 4 of 4

       (v)    Notice of Termination. Any termination of this Agreement shall be
              communicated by written Notice of Termination to the other party
              of this Agreement. "Notice of Termination" means a notice which
              indicates the specific termination provision in this Agreement
              relied upon and shall set forth in reasonable detail the facts and
              circumstances claimed to provide a basis for the termination of
              the Consultant's retention under the provision so indicated.

       (vi)   Date of Termination. Date of termination means (a) if the
              Agreement is terminated by Purches's death, the date of his death,
              (b) if the Consultant's retention is terminated pursuant to
              subsection 7(iii) (a) above, thirty (30) days after Notice of
              Termination is given provided that Purches shall not have returned
              to the performance of his duties during the thirty (30) day
              period, (c) if the Consultant's retention is terminated pursuant
              to subsection 7(iii) (c) above, the date specified in the Notice
              of Termination after the expiration of any cure periods, and (d)
              if the Consultant's retention is terminated for any other reason,
              the date on which Notice of Termination is given.

8.     Compensation Upon Termination or During Disability:

       (i)    Upon Purches's death, the Corporation shall pay to the person
              designated by Consultant in a notice filed with the Corporation
              or, if no person is designated, to Purches's estate as a lump sum
              death benefit, Consultant's full compensation for a period of six
              (6) months after the date of Purches's death. Upon full payment of
              amounts required to be paid under this subsection, the Corporation
              shall have no further obligation under this Agreement.

       (ii)   During any period that Purches fails to perform his duties under
              this Agreement as a result of incapacity due to physical or mental
              illness, Consultant shall continue to receive its full
              compensation until the Consultant's relationship is terminated
              pursuant to Section 7(ii) of this Agreement, or until Consultant
              shall receive a lump sum of six months' compensation.

       (iii)  If the Consultant's retention is terminated for Cause as defined
              in subsection 7(iii), the Corporation shall pay the Consultant its
              compensation through the date of termination at the rate in effect
              at the time Notice of Termination is delivered and the Corporation
              shall have no further obligation to Consultant under this
              Agreement.

<PAGE>

CONSULTING AGREEMENT
Page 5 of 5

       (iv)   If (a) in breach of this Agreement, the Corporation shall
              terminate the Consulting relationship other than pursuant to
              Sections 7(iii) (b) or 7 (iii) (c) (it being understood that a
              purported termination pursuant to Sections 7(iii) (b) or 7(iii)
              (c) which is disputed and finally determined not to have been
              proper shall be a termination by the Corporation in breach of this
              Agreement), or (b) the Consultant shall terminate the relationship
              for Good Reason, then

              (1)    The Corporation shall pay the Consultant its full
                     compensation through the date of termination at the rate
                     then in effect at the time Notice of Termination is given
                     through the end of the Term;

              (2)    In the event of a Change in Control as defined in Section
                     7(iv), the Corporation shall pay Consultant, in a lump sum,
                     an amount equal to the greater of (a) twice the amount then
                     due through the end of the Term; or (b) two times the
                     annual compensation paid to Consultant.

              (3)    In the event of a Change in Control of the Corporation as
                     defined in Section 7(iv) above, the total number of
                     outstanding unexercised options (warrants) granted to
                     Consultant under this Agreement as well as any previous
                     employment, consultant or other agreements, shall be
                     doubled in quantity while retaining the original exercise
                     price.

              (4)    The Corporation shall pay all reasonable legal fees and
                     expenses incurred by Consultant in contesting or disputing
                     any such termination or in seeking to obtain or enforce any
                     right or benefit in this Agreement.

       (v)    Unless the Consultant is terminated for Cause, the Corporation
              shall maintain in full force and effect, for the continued benefit
              of Consultant for the greater of the remaining term of this
              Agreement or eighteen (18) months after termination of this
              Agreement, all health and hospitalization plans and programs in
              which Consultant was entitled to participate in immediately prior
              to the Date of Termination as defined in Section 4 of this
              Agreement, provided that Consultant's continued participation is
              possible under the general terms and provisions of the plans and
              programs. If Consultant's participation in any plan or program is
              barred, the Corporation shall arrange to provide the Consultant
              with benefits substantially similar to those which Consultant
              would otherwise have been entitled to receive under the plan and
              program from which his continued participation is barred.

<PAGE>

CONSULTING AGREEMENT
Page 6 of 6

9.     Savings Clause: The determination that any provision of this Agreement is
       unenforceable shall not terminate this Agreement or otherwise affect the
       other provisions of this Agreement, it being the intention of the parties
       hereto that this Agreement shall be construed to permit the equitable
       reformation of such provision to permit the enforcement thereof, if
       possible, and otherwise to permit the enforcement of the remaining
       provisions of this Agreement as if such unenforceable provision were not
       included herein.

10.    Equitable Relief: The parties hereto agree and declare that legal
       remedies may be inadequate to enforce the provisions of this Agreement
       and that equitable relief, including specific performance and injunctive
       relief, may be used to enforce the provisions of this Agreement.

11.    Notice: Any notice required or permitted to be given under this Agreement
       shall be in writing and shall be deemed to have been given and received
       on the date when personally delivered or deposited in the United States
       Mail, registered postage prepaid, addressed:

                     a.     if to the Corporation to: Mr. Ilia Lekach Parlux
                            Fragrances, Inc. 3725 S.W. 30th Avenue Fort
                            Lauderdale, FL 33312
                     b.     if to the Consultant or Purches to: Mr. Frederick
                            Purches 175 East 62nd Street, New York, NY 10021

       or to such other address as the Corporation or the Consultant may
       designate in writing.

12.    Amendments: This Agreement may be amended or modified only by a writing.

13.    Governing Law: This Agreement shall be governed and construed under the
       laws of the State of Florida.

14.    Entire Agreement: This Agreement constitutes the entire Agreement between
       the Consultant, Purches and the Corporation, with respect to its subject
       matter, and all prior and other agreements between them, oral or written
       concerning the same subject matter are merged into this Agreement and
       thus extinguished.

15.    Survival of Covenants: Any of the provisions in this Agreement which
       would by their terms continue after the termination of this Agreement
       shall be deemed to survive such termination.

16.    Assignability and Binding Effect: This Agreement shall be binding upon
       and inure to the benefit of the Corporation and its successors and
       assigns. This Agreement may not be assigned by either party without the
       written consent of the other party hereto.

<PAGE>

CONSULTING AGREEMENT
Page 7 of 7

IN WITNESS WHEREOF, the parties have hereunto set their hands and seals as of
the date first written above.

PARLUX FRAGRANCES, INC.

By: s/s Ilia Lekach
    -------------------------------------
Ilia Lekach, Chief Executive Officer

Consultant
COSMIX INC.

By:  s/s Frederick E. Purches
     ------------------------------------
Frederick E. Purches, President
and Frederick E. Purches
Individually

Attested to by:

s/s Frank A. Buttacavoli
-----------------------------------------
Frank A. Buttacavoli
COO, CFO, Executive Vice President

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