Document:

Exhibit 10.19

 

EMPLOYMENT AGREEMENT 

(hereinafter, the “Agreement”)

 

BETWEEN

 

Coty SAS, a French Simplified Joint Stock
company with a share capital of €22,905,465, whose head offices is located at 14, rue du 4 septembre 75002 Paris (France),
incorporated with the Paris Commercial and Companies Registry under number 394 710 552, represented by Mr. Géraud-Marie
Lacassagne, in his capacity as President.

 

Hereinafter, the “Company”

 

AND

 

Mr. Jean Mortier, born on January 16, 1960,
in Boulogne-Billancourt, a French citizen, residing at 10 bis, avenue de la Grande Armee, 75017 Paris whose social security number
is 1.60.01.75.012.120/50.

 

Hereinafter: the “Employee”.

 

The Company and the Employee being collectively
referred to as the “Parties”, and individually as a “Party”

 

Preamble

 

The Company is a direct or indirect subsidiary
of Coty Inc., “Coty”), which has its head offices at 2 Park Avenue, New York, NY 10016 (USA).

 

Now therefore the Parties agreed the
following:

 

Article
1 - Employment, Description of Scope

 

1.1    As
from October 1, 2012 (the “Effective Date”) the Employee will be employed as President, Coty Prestige corresponding
to a status of ‘Top Executive’ (cadre dirigeant), Group V, coefficient 880, pursuant to French law and the provisions
of the Collective Bargaining Agreement for the Chemical Industries (hereinafter referred to as the “Collective Bargaining
Agreement”) The seniority of the Employee being carried over as from November 1st, 1984.

 

1.2    The
Parties expressly agree that the Employee may also be requested, from time to time, to carry out special tasks in the framework
of the operations of Coty, which will not affect his position as President Coty Prestige of the Company, which will remain prevalent
to any other tasks he may have.

 

1.3    This
Agreement is an indefinite term employment contract. The Employee confirms that he is not bound by any non-competition restrictions
or other understanding preventing the Employee from entering into this Agreement.

    	 

    	

    

1.4    The
Parties expressly agree that this Agreement does not provide for any trial period.

 

1.5    The
Employee agrees to have a taking-on medical examination for which the Employee shall be convened, and this Agreement is subject
to the condition that the Employee be declared fit for the offered position.

 

1.6    If
the case arises, the Employees authority to represent the Company may be governed by the by-laws of the Company. The Company retains
the right to appoint other representatives in addition to the Employee. The Employee will also receive specific directions given
to the Employee by the Company’s Board and by the Employee’s business leader.

 

The Employee will coordinate his activities
with the appropriate divisions, departments and companies within Coty, as designated by his operational business leader. The Employee
may also be directed to report to members of Coty in addition to normal reporting lines existing within the Company.

 

If there are conflicting instructions at
Company and Coty level, the Employee will contact the next higher level within Coty in order to have the conflict resolved.

 

All personal matters with respect to the
Employee are exclusively handled by the Company which will coordinate internally with Coty.

 

1.7    The
Employee will mainly carry out his duties at the Company’s registered office currently located at 14, rue du 4 septembre
75002 Paris. However, the Parties expressly agree that the Employee may be required to travel extensively in France or abroad and
that the Employee may be required to relocate in accordance with the Company’s needs and on a mutually agreed basis.

 

Article
2 - Additional Responsibilities, Directorships

 

2.1    The
Employee may, however, be requested by the Company to take additional responsibilities such as directorships on the Boards of
companies of the Coty group. The Employee agrees to accept such additional responsibilities without additional compensation except
for nominal compensation as may be required under local laws. In any event, the Employee will benefit from an insurance policy
covering his professional liability which might be incurred by these additional responsibilities. These additional responsibilities,
however, will not affect nor alter his position as President, Coty Prestige of the Company as set in article 1 above, which is
prevalent. 

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2.2    Coty
may, without an obligation to do so, offer the Employee to take over a directorship in one or more companies of the Coty group
or offer or encourage the Employee to accept a position in an outside organization such as an industrial association. In such case,
the Employee will represent the interests of Coty within that company or organization in addition to his obligations under the
Agreement. Those additional responsibilities, however, will not affect or alter his position as President, Coty Prestige of the
Company, as set in article 1 above, which is prevalent. Should a conflict arise between the Employee’s obligations to the
Company and his other directorship(s) the Employee will advise Coty accordingly.

 

In performing his duties as a director
or representative, the Employee will report to Coty or such person as Coty may direct.

 

2.3    In
consideration for the close link which would exist between the potential directorships and/or additional responsibilities with
the salaried employment relationship within the Coty group, the termination of the Agreement will automatically entail the immediate
termination of all directorships and/or additional responsibilities. Therefore, the Employee hereby agrees to resign, without delay
and without right of retention, from all directorships or other offices (as outlined in the preceding paragraph) whenever so directed
by the Company and/or Coty and immediately so upon termination of Employee’s work duties for the Company unless expressly
provided otherwise in writing. Any shares in the affiliates of the Company or Coty held by the Employee, at Coty’s or the
Company’s direction shall be transferred immediately, whenever and as the Company or Coty directs and upon termination of
the Agreement.

 

2.4    The
Employee shall devote all of his working hours and efforts to the Company’s business and shall not, during the Agreement,
without the prior written approval of the Company and Coty Chief Executive Officer:

 

(i)    Hold
any employment or business position outside the Company and the Coty group, irrespective of whether any remuneration is paid; or

 

(ii)    Directly
or indirectly engage in any other business activity or otherwise conduct activities which may conflict with or may have a detrimental
effect on the Employee’s obligations to or work for the Company or for Coty, or which may adversely affect their reputation
or business.

 

Article
3 - Compensation and working time

 

3.1    As
President Coty Prestige, the Employee will have the status of Top Executive in conformance with the provisions of article L.3111-2
of the Labor Code and hold a top position in the Company hierarchy, testified by the level of his compensation and full ability
to organize his work hours, while remaining subordinated to the Company’s legal representative to which he will regularly
report to. 

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As a Top Executive, the Employee expressly
acknowledges that he is excluded from the scope of application of the legislation on workweek length.

 

As a consequence, the compensation stated
under article 3.2 below will be considered as global and independent from the actual duration of work of the Employee.

 

3.2    As
from the Effective Date, the Employee shall receive a basic annual gross salary of € 420’000 (four hundred and twenty
thousand Euros) as well as an expatriation allowance which amount and modalities of implementation will be set in an exhibit to
the Agreement, in compliance with applicable laws and regulations, to be reviewed every year, and limited to a maximum gross amount
of 110’000 € by year. The Employee’s salary shall be payable in twelve equal installments subject to the deduction
of social security charges, as applicable.

 

The gross annual salary shall be reviewed
in regular annual intervals.

 

3.3    The
remuneration of any other special assignment within the Coty Group, for example, serving as a member of the board of directors
of any group company including the Company shall not give rise to any additional compensation, the compensation served to the Employee
corresponding the functions entrusted with the Employee as defined by the Agreement will be deemed to be already inclusive of such
additional responsibilities, given the hierarchical level of the Employee.

 

3.4    In
addition, the Employee shall be part of the Coty Annual Performance Plan - (“APP”), with a Target Award at 60 % of
Employee’s basic gross annual salary and of the yearly gross amount of the expatriation allowance. Details of the APP shall
be communicated in separate documents.

 

The Employee shall participate in the Coty
APP as outlined therein. The Employee understands that the Coty APP is subject to review, amendment and termination by Coty in
its sole discretion at any time. The Employee shall have no vested right or expectancy to benefits which are modified or deleted
in accordance with the APP, and the amount, calculation and proportion of his award is not guaranteed by Coty or any entity of
Coty, except as provided in the APP.

 

In determining the Employee’s award,
if any, in the APP, the business results of the Company as well as other appropriate entities within Coty will notably be appreciated,
as provided in the APP. 

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Article
4 - Benefits, Social Insurance and paid leave

 

4.1    The
Employee accepts without reservation to contribute to all health and retirement funds to which the Company shall be bound.

 

The Employee shall be affiliated to the
compulsory pension schemes.

 

The Employee knows that there is within
the Company a collective and mandatory scheme for collective coverage in relation to the reimbursement of medical expenses and
death - disability - invalidity, for which a deduction shall apply with regard to the employee part.

 

Information notices of the insurer summarizing
in particular the coverage and the application terms shall be provided to the Employee.

 

The Parties expressly agree that the Company
reserves the right to affiliate the Employee to other health and retirement funds. The Parties agree that such change would not
constitute a modification of the Agreement inasmuch as the benefits coverage would be identical or superior.

 

4.2    The
Employee shall be entitled to paid vacation as provided by applicable legislation (25 working days per year) calculated by year
of reference, from June 1st to May 31.

 

In planning vacation the Employee will
duly consider the business requirements of the Company and will coordinate vacation days with his Business Leader.

 

Should the Employee be unable to work as
a result of sickness or accident, the performance of this Agreement shall be suspended pursuant to the terms provided by applicable
laws and regulations. The Employee is required to inform the Company immediately of any absence and must forward to the Company
within forty-eight (48) hours a medical certificate to justify his absence.

 

4.3    The
Company shall provide the Employee with a company car corresponding to the Employee’s duties that may be used for professional
or personal purposes in accordance with the Company’s Car Policy, which may be amended by the Company from time to time.
The use of the vehicle for personal purposes will be considered as a benefit in kind and as such, will be subject to social security
contributions.

 

The Employee confirms that he possesses
a valid driving license and will immediately inform the Company of any change in her legal authorization to drive a vehicle.

 

In the event of an accident, the Employee
must inform the Company as well as the insurance company within 48 hours and provide a detailed description of all circumstances
surrounding the accident. 

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The Company shall bear the costs of the
annual comprehensive insurance premium as well as any charges relating to the maintenance and operating of the vehicle and arising
from the use for professional purposes only. The Employee agrees to indemnify and hold harmless the Company against any fines,
costs, responsibilities, damages resulting from the Employee’s use of the vehicle for personal purposes. Any petrol or toll
costs etc. incurred by the Employee while using the vehicle for personal purposes are to be exclusively borne by the Employee.

 

The vehicle is placed at the Employee’s
disposal without any transfer of property, and will have to be returned immediately to the Company in the event of termination
of the Agreement for whatever reason on the date of the Employee’s departure from the Company.

 

The Company reserves the right to modify
the terms of use of the company car at a later date.

 

4.4    Any
work related travel shall be subject to the Coty Travel Policy. All travel expenses must be properly accounted for and documented
and shall be filed for reimbursement without delay. Any request for reimbursement shall be subject to local tax rules, the provisions
of the Coty Travel Policy, and must first be approved by the Employee’s Business Leader.

 

4.5    The
Company will provide reasonable assistance to the Employee in filing taxes in France and other geographies where the Employee is
performing his activities.

 

4.6    Any
other benefit, if actually received by the Employee during the term of employment, but which are not expressly stated in this Agreement,
shall be considered discretionary and may be withdrawn by the Company without any compensation for the Employee, except that the
Employee is eligible for benefits required by mandatory applicable law provided that any such benefits shall not duplicate benefits
already provided under this Agreement, which may be adjusted accordingly in such an instance to avoid any duplicative payment.

 

Article
5 - Termination of the Agreement

 

5.1    Either
party may terminate this Agreement by written notice to the other party in accordance with local laws and applicable notice period.
The Company may terminate this Agreement without notice period immediately if the Employee commits a serious breach of any of the
provisions of this Agreement or is guilty of any grave misconduct or willful neglect in the discharge of his duties.

 

If this Agreement is terminated by notice
of either party, the Company may release the Employee from his work duties partially or in full. 

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5.2    Upon
terminating his employment for any reason or whenever so directed by the Company or Coty, the Employee will return any documents,
papers, drawings, plans, diskettes, tapes, data, manuals, forms, notes, tables, calculations, reports, or other terms which Employee
has received, or in or on which Employee has stored or recorded Company or Coty data or information, in the course of his employment
as well as all copies and any material into which any of the foregoing has been incorporated and any other Company or Coty property
which may be in his possession or control, to the Company or to such entity as Coty may direct, without right of retention.

 

5.3    During
the notice period, the Company shall have the right to release the Employee either partly or in full from the performance of his
responsibilities during the notice and access to the workplace and to work facilities. In such event, the Employee’s rights
and obligations under this Agreement shall nonetheless remain in force and he shall consequently observe all provisions of this
Agreement including those relating to confidentiality, non competition obligation, etc. When the Agreement is terminated, the Employee
shall be obliged to resign from any and all directorships with any Coty Group company, or additional responsibilities as mentioned
above, without claiming compensation therefore, and all other positions which he held on behalf of any Coty Group company.

 

5.4    When
the Employee physically leaves his position with the Company, or whenever so directed by the Company or Coty, the Employee will
return to the Company any documents, papers, drawings, plans, diskettes or USB keys, tapes, data, manuals, forms, notes, tables,
calculations, reports or other items which Employee has received, or in or on which Employee has stored or recorded Company or
Coty data or information, in the course of his employment as well as all copies and any material into which any of the foregoing
has been incorporated and any other Company or Coty property which may be in his possession or control, to the Company or to such
entity as Coty may direct, without any right of retention.

 

The Employee shall not keep any copies
of the material or any part of the material nor deposit the same or keep the same with any third party. The Employee shall also
provide to the Company at the latest when the Employee physically leaves the Company termination of the Agreement a list of all
passwords and other codes used by the employee in the IT-system of the Company.

 

Article
6 - Inventions, Industrial Rights

 

For the purposes of the Agreement, the
“Intellectual Creations” mean without limitation, any work of authorship within the meaning of Article L.112-2 of
the Intellectual Property Code that may be subject to author copyrights and all creations that may be subject to private rights
of intellectual property and notably creations such as subject to the law of trademarks, designs or patent law, under the Code
of Intellectual Property, conducted by Employee in the performance of the Agreement in connection with 

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the Company’s operations and missions
entrusted with the Employee.

 

6.1    Assignment
of Rights:

 

The Employee will transfer to the Company
the full property rights in Intellectual Creations, as and when they are created by the Employee.

 

This assignment will include, without limitation,
in respect of moral rights conferred to the author on it, (i) the right of reproduction by any means and on any media known or
unknown to date, (ii) the right of representation and communication to the public by any means, all media and all communication
networks known or unknown to date, (iii) the right of integration in an element of similar nature and / or kind or nature and /
or gender different, (iv) the right of adaptation in the same or a different type, (v) the right to change, (vi) the right of translation,
(vii) the right of location, (viii) the right of use, (ix) the right of distribution, sale and lease, and (x) the right of exploitation
in all forms, all processes on all media, by all means, all media and all communication networks known or unknown to this day,
for free or not and regardless of the recipients and that, for all of these rights, for any purpose or use, such as information
or as a business.

 

As such, the Employee waives all rights
to claim any intellectual property rights, including reproduction, representation, integration, adaptation, modification, translation,
localization, use, distribution, sale renting and operating in all forms and all media.

 

This transfer of rights is granted on an
exclusive basis, and free for the world and for the duration of legal existence of such rights.

 

The Company may dispose, gratuitously or
for consideration, some or all of the above rights, including consent to any third party any contract for the exploitation of Intellectual
Creations, in any form, any medium and any manner whatsoever.

 

In the event of intellectual creations
would be subject to intellectual property rights other than those defined in Article L.111-1 et seq, including trademark rights,
design rights or patents (notwithstanding the provisions of the Code of Intellectual Property relating to inventions made by the
Employee in performance of the Agreement and Collective Bargaining Agreement), it is agreed between the Parties that the Company
will carry out all formalities necessary to ascertain and make binding towards third parties his right to the Intellectual Creations
in question.

 

As the holder of the rights set out above,
the Company will then operate, in the broader way and for the most diverse purposes, the elements developed during or resulting
from the execution of services by the Company under this Agreement. The Company 

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may also in its name and file any patent,
trademark, and any design model and more generally take any measure to make it effective against third parties the rights vested
in it and, for all countries.

 

In the event that the Employee would disclose,
within 18 months from the termination of the Agreement, an Intellectual Creation made in the continuation of the Agreement or mission
assigned by the Company and / or using Confidential Information as defined under this Agreement or know-how of the Company, the
Company will be entitled to claim ownership of the Intellectual Creation in question.

 

6.2    Warranties

 

The Employee warrants the Company and/or
any company of the Coty group against any disorder, claims, eviction, or claim, notably any action against any infringement or
unfair competition eventually started by third parties against the Company or any affiliate concerning the Intellectual Creations.

 

The Employee warrants that such Intellectual
Creations have not been and will not be copied to any other work, invention, design, model, software, etc. unless he can prove
authorization to do so.

 

The Employee also guarantees that he has
not and will not assign to any third party rights the Intellectual Creations. In this respect, the Employee warrants the Company
that he has not entered and will not enter into any agreement of any kind which may obstruct or oppose the application of this
section.

 

The Employee acknowledges and agrees that
all achievements and developments, created by him under or for the duration of the Agreement, that would not, to date, be protected
by any intellectual property right recognized under the provisions of the Code of Intellectual Property, including but not limited
to particular formulations, studies, expertise, methods are and remain the full and exclusive property of the Company.

 

The Employee warrants that he has not carried
and will not carry out any deposit of industrial property of any kind on the Intellectual Creations, their changes, modifications
or improvements.

 

Article
7 - Code of Business Conduct, Confidentiality

 

The Employee will comply with the Coty
Code of Business Conduct, a copy of which has been provided to the Employee

 

The Employee shall not disclose, directly
or indirectly, during the Agreement or at any time following its termination, to others or use for Employee’s own benefit
or for the benefit of others and agrees to keep strictly confidential all information concerning the Company or any other entity
within Coty unless such use or disclosure has been approved in advance and in writing by the 

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Company or Coty. This duty of confidentiality
applies in addition to all applicable laws regarding the protection of trade secrets and includes, but is not limited to, any internal
papers and documents, business secrets or know-how, proprietary information, business or marketing plans, cost calculations, financial
or other data, profit plans, inventions, discoveries, processes, drawings, notes, customer or supplier information and any other
internal information which the Employee has received, used, observed, been exposed to or had access to in the course of his employment
with an entity of Coty.

 

If the Employee contravenes section 7,
any relevant Coty Group company injured by the breach shall be entitled to compensation for damages including loss of profits damages
arising from such breach from the Employee in accordance with the applicable law, in addition to any other damages and remedies
available at law. Any company of the Coty Group injured by such conduct may bring an action to enforce such remedies on its own
behalf.

 

Article
8 - Competition Restrictions - non solicitation

 

The Parties acknowledge that this covenant
is necessary in order to safeguard the Company’s interests, due to the fact that Company conducts business activities in
an extremely competitive sector in which other major economic actors are also present, and that in consideration of his level of
responsibility, the Employee has access to the Company’s entire commercial, marketing and financial data.

 

The Employee agrees, in the event of termination
of the Agreement on any grounds, to abstain from:

 

		·	entering the service of a competing undertaking, with or without compensation and in particular
any firm whose principal business consists in manufacturing, designing and selling any fragrances, cosmetic and make up products,
skin care products and any related products.

 

		·	taking an interest, directly or indirectly, in any manner whatsoever in any such undertaking.

 

This non-competition covenant shall be
limited to a duration of twelve months running from the date the Employee physically leaves the Company and covers all countries
and geographies where the Employee has performed any professional activity over the last 24 months of his employment, i.e., all
geographies where Coty Prestige sells its products via a subsidiary or a distributor.

 

In consideration of such non-compete obligation,
the Employee will receive a monthly compensation of two thirds (2/3) of his Monthly Gross Salary. For the purposes of this section,
the Monthly Gross Salary will mean the average gross salary paid over the 12 months prior to the notification of termination of
the Agreement, including base salary and any target bonuses served to the Employee, but excluding exceptional bonus or any other 

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premium, whether discretionary or not.
This indemnification, that covers a non-compete indemnity as well as the indemnification of the related accrued holidays, shall
be subject to the same social charges and contributions as salary.

 

Such indemnity will be monthly paid to
the Employee as from the date the Employee physically leaves the Company until the end of the non-competition obligation time period.

 

However, the Company may unilaterally release
the Employee from the non-competition obligation at any time during the Agreement by sending a registered mail with return receipt
requested. The Company may also release the Employee from the non-competition obligation by registered mail with return receipt
requested at the time of the notification of the termination of the Agreement in case the Employee would be exempted from performing
his notice period, or on the date of termination of the Agreement in case the notice would be performed by the Employee. In case
the Employee would terminate the Agreement, the Company may release the Employee from his non-competition obligation in accordance
with the provisions of the Collective Bargaining Agreement. In case of a release, the Company will be exempted from any obligation
of payment of the non-compete indemnification.

 

The Employee acknowledges and expressly
agrees, in case he would find a new position during the application of the non-competition covenant to immediately inform the Company
by registered letter upon receipt, disclosing his new position, name of his new employer and scope of activity.

 

The Employee also undertakes, directly
or indirectly, on his own behalf or on behalf of a third party:

 

·    not
to encourage, poach or try to poach, solicit or try to solicit, or take any measure aiming at canvassing or encouraging any person
who was an employee of the Company as at the date of the termination of the Contract to leave his/her position or to poach other
employees;

 

·    not
to encourage, canvass or try to poach, recruit, solicit or try to solicit, or take any measure aiming at canvassing or encouraging
any person who was an employee of the Company as at the date of the termination of the Contract, in order to make him/her perform
tasks that would be in competition with those performed by the Employee.

 

These restrictions shall apply for a period
of twelve (12) months from the date of the physical departure of the Employee from the Company.

 

Breach of this covenant shall make the
Employee liable for payment of liquidated damages of 18 months of gross salary, computed on the basis of the Monthly Gross Salary
collected during the year prior to termination of the Agreement.

 

Such damages shall be payable to the Company
in respect of each breach committed.

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Such damages shall be without prejudice
to any damages which the Company reserves the right to claim at law for full repair of any intangible and pecuniary losses actually
suffered as a result of the Employees activity, and to apply for an injunction, if necessary subject to fines, for discontinuation
of the competing activity.

 

The Employee acknowledges that his agreement
is necessary in order to safeguard the Company’s interests and/or any company of the Coty Group, and that the present article
shall not prevent him from finding another position.

 

For the purposes of the Agreement, “any
company of the Coty group” shall mean any company in France or abroad, which directly or indirectly, controls or is controlled
by the Company, or is under the same control as the Company (according to the meaning set forth by article L. 233-3 of the French
Commercial Code).

 

Should the provisions of this article be
considered too broad by a competent jurisdiction, the parties agree that this clause shall be applied to its maximum extent as
authorized by the current legislation.

 

Article
9 - General

 

9.1    This
Agreement relates only to the Employee’s employment with the Company. Nothing within this Agreement shall be construed as
constituting an employment agreement with Coty or any company of the Coty group, other than the Company.

 

9.2    This
Agreement constitutes the full agreement; any verbal or prior agreements shall be replaced by this Agreement. Any amendments to
a substantial provision of this Agreement must be made in writing only and signed by the Employee and the Company. Any verbal assurances
or agreements are not binding unless reduced to written form and signed by both parties.

 

9.3    The
provisions of this Agreement shall be subject to the laws of France.

 

The Labor Courts of Paris, France, shall
have jurisdiction over all disputes arising out of or in reference to this Agreement, provided however that as to any claims or
causes of action against Coty, the appropriate State and Federal courts located in New York, New York, shall have exclusive jurisdiction
and venue and the parties hereby consent to such exclusive jurisdiction and venue. Unless otherwise prohibited by local laws,
the Parties agree that any damages shall be limited to actual damages and shall not include any special, punitive, consequential
or similar damages unless otherwise agreed in this Agreement.

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9.4    The
Employee acknowledges and agrees that the Company and Coty have no adequate remedy at law for a breach or threatened breath of
any of the provisions of this Agreement, and, in recognition of this fact, Employee agrees that, in the event of such a breach
or threatened breach, the Company and Coty will suffer irreparable harm that cannot be adequately compensated by money damages.
Employee agrees that, in addition to any remedies at law, the Company and Coty, shall be entitled to obtain equitable relief in
the form of specific performance, temporary restraining order, temporary or permanent injunction or any other equitable remedy
which may then be available.

 

Nothing in this Agreement shall be construed
as prohibiting the Company or Coty from pursuing any other remedies at law or in equity that it may have or any other rights that
it may have under any other agreement. Employee expressly waives the claim or defense that the Company has an adequate remedy at
law, unless such waiver is prohibited by law. Employee also expressly waives any requirement that the Company or Coty post bond
or security prior to seeking equitable relief.

 

9.5    Any
grievance relating to employment should be referred to the Employee’s Business Leader.

 

Headings used in this Agreement are meant
to facilitate reading this Agreement and do not serve as definitions or interpretation of the respective provisions.

 

If one or more of the provisions of this
Agreement is or becomes wholly or partly invalid or unenforceable, or if this Agreement falls to cover an issue which the parties
would have covered had they thought of it at the time of the Agreement, such invalidity, unenforceability or missing provision
shall not affect the validity of the remaining provisions of this Agreement. Such invalid, unenforceable or missing provision shall
be replaced by a valid provision which best reflects the intentions of the parties to this Agreement in accordance with the valid
provisions of this Agreement, applicable laws and the Company and Coty Policies referred to in this Agreement.

 

No provision of this Agreement shall be
deemed waived and no breach shall be excused unless such waiver or consent is in writing and signed by the party claimed to have
waived or consented.

 

Article
10 - Language

 

This Agreement has been drawn in two languages.
In the event that difficulties in interpretation arise, the French version will be applicable and prevail in all respects.

 

Any references to the masculine gender
herein are for convenience only.

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Article
11 - Information, Data Protection

 

The Employee agrees to disclose to the
Company all his personal data which are requested by the Company and are necessary for the performance of the Agreement.

 

The Employee accepts that the said data
be collected and processed by the Company for managing employees, including payroll management and control of access to the premises,
working hours, catering, and keeping and maintaining employees records etc. The Employee is informed that all the data of the type
contained in this Agreement (as well as updates thereof) must be notified to the Company because they are necessary for the performance
of this Agreement and management of the Employee’s personal data.

 

The Employee is informed that he will have
the right of access to and rectification of this data, pursuant to the law n° 78-17 of 6 January 1978, by contacting the Human
Resources Department of the Company. The right of access entitles the Employee to request copies of all personal data of which
the Employee is a data subject, information regarding the processing of personal data and the third parties to whom data may be
disclosed. In addition, the Employee may oppose for legitimate reasons to the processing of personal data related to him by contacting
the Human Resources Department of the Company.

 

	 	 	
        Paris, France, on October 1, 2012 

        In three original copies 
	 
	 	 	 	 
	/s/ Géraude Marie Lacassagne	 	 	 
	Géraude Marie Lacassagne	 	  /s/ Michele Scannavini	 
	
        Senior Vice President, Human Resources 

        President, Coty SAS

         
	 	
        Michele Scannavini 

        Chief Executive Officer 

        Coty Inc. 
	 
	 	 	 	 
	  /s/ Jean Mortier	 	 	 
	Jean Mortier

The Employee (*)	 	 	 

  

(*) Signatures preceding the following handwritten notation:
“Read and Approved, Good for Agreement”. 

    	14Exhibit 10.20

 

Rider to the Employment Contract of July
20, 2006

 

between

 

Coty S.A.S

hereinafter: the “Company”

 

represented by Anne Simorre, Human Resources
Director.

 

and

 

Mr Jean MORTIER

10 bis, avenue de la Grande Armée

75 017 PARIS

FRANCE

 

hereinafter the “Employee”

 

Given the condition governing the performance
of the Employee duties and considering the business international growth of the Company, the Employee is expected to travel outside
France frequently for assignments which may last several days or several weeks.

 

Given the importance of the travel required
by the responsibilities of the Employee which extends beyond the usual frequency of travel for such position, and considering the
specific constraints associated with such travels, the Employee is entitled, in addition to his annual base compensation established
at Euros 420’000 to an allowance for travel to foreign countries, known as an expatriation premium (the “Premium”).

 

The terms and conditions for the calculation
of the Premium are established, without prejudice to subsequent modifications, as follows:

 

		1.	The amount of the annual Premium will be based on the actual number of days spent and
worked in foreign countries.

 

		2.	The daily Premium cannot exceed a maximum amount of 40% of the Employee’s daily Total Annual
Gross Remuneration (the “TAGR”), this amount being adjusted according to the destination as defined below:

    	 

    	

    

	Destinations	Daily Premiums
	Western Europe (European Union, Switzerland...)	36% of TAGR
	Eastern Europe, Middle East and Africa :	38 % of TAGR
	Americas,
    Asia & Pacific	40% of TAGR

 

The TAGR is defined as the sum of the annual
base salary as of January 1 of the current year plus the annual bonus at target level divided by the number of effective workdays
during the year (currently 215). The Premium is explicitly excluded from this calculation.

 

		3.	The term “day” designates any day, whether working day or holiday - with the exception
of those days included in paid vacation days - spent outside of France upon request and for the direct and exclusive benefit of
the Company. The term “foreign” designates any place outside of France and not under French sovereignty.

 

		4.	A day is considered as spent in a foreign country when:

 

		·	It is entirely spent in a foreign country. To qualify, the business trip requires the Employee to reside without interruption
in one or multiple foreign countries for at least 24 hours (excluding the travel time back and forth).

 

		·	The arrival in the foreign country must take place in the morning and the departure from the foreign country back to France
must take place in the evening.

 

		5.	Periodic internal meetings within the Company such as internal communications and training programs
in a foreign country qualify for the expatriation premium.

 

		6.	In any case, the total amount of the Premium shall not exceed Euros 70’000 per annum (the
“Ceiling”). The final annual Premium will be either the result of the computation considering actual days spent in
foreign countries or the Ceiling, whichever amount is the lowest.

 

		7.	It is expected that the Employee spends 86 workdays abroad split as follows :

 

		·	13 workdays in Western European countries (excluding France),

 

		·	4 workdays in Eastern Europe, Middle East or Africa,

 

		·	69 workdays in America, Asia or Pacific.

 

		8.	The Premium is paid monthly from January to November as an advance. The monthly advance amounts
to Euros 7’900 gross. In December, the Employee shall submit a report summarizing the days spent in foreign countries split
per destination which shall be the basis for the determination of the final annual Premium and the year-end reconciliation of the
advances as follows:

 

If the Employee qualifies for a
lower Premium than paid as an advance, excess payments shall be reimbursed by the Employee to the Company no later than December
31 of the current year.

 

If the Employee qualifies for a
higher Premium than paid as an advance, the Company will pay the outstanding balance within the limit set above in paragraph 6
with the December payroll.

    	 

    	

    

		9.	The Employee should keep proofs of his business trips retaining all appropriate documentation such
as boarding passes, hotel bills or any other document which would substantiate his presence on a foreign soil.

 

		10.	Given the fact that the Premium is exempt from the French income tax, French tax authorities has
the right to verify that the Employee fulfills all conditions. The Company is under no circumstances responsible in case of a challenge
by the French tax authorities of the exemption of the Premium and it is the Employee’s sole responsibility to keep record
of his travels for this purpose along with all substantiating documents connected with such trips.

 

		11.	The Company reminds the Employee that :

 

The French tax administration currently
has a right to audit any personal tax situation with tree years in arrears. Should the tax administration’s challenge be
upheld, the Premium will be taxed as remuneration and late payment interest will be due by the Employee.

 

The Premium remains subject to employee
and employer French social security withholding, including “CSG” and “CRDS”, if the individual is affiliated
to the French social security regime.

 

Tax formalities will have to be
fulfilled by the Employee upon filing of a French tax return as the Premium has to be taken into account for the determination
of the French effective tax rate applicable to the Employee’s income.

 

		12.	This agreement will enter into effect on October 1st, 2012 for a 3 months period. One month before
expiration, the Company may decide to extend the agreement for a further period of 12 months and to revise then the conditions
for determining and paying the Premium.

 

So that the documents are established in good
order, the Employee shall return to the Company two copies of this agreement duly signed and preceded in hand-written form by the
phrase « Read and Approved »

 

Established in three originals

 

Paris, le 15 octobre 2012

 

	     /s/
    Anne Simorre       	 
	Anne Simorre	 
	 	 
	     /s/
    Géraud-Marie Lacassagne    	 
	Géraud-Marie Lacassagne	 
	 	 
	     /s/
    Jean Mortier    	 
	Jean Mortier

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