Letter Agreement Regarding Cessation of Advisory Services under Consulting Agreement between E. Scott Beattie and Revlon, Inc.

Contract Categories: Human Resources › Consulting Agreements
Summary

This letter agreement between E. Scott Beattie and Revlon, Inc. confirms that Mr. Beattie will stop providing advisory services under their existing consulting agreement as of April 1, 2020, and will no longer receive payment for those services after that date. Any payments for services provided before April 1, 2020, will be paid as usual. The agreement clarifies that this change does not terminate the consulting agreement or trigger any termination rights, and all other terms remain in effect unless changed in writing.

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EX-10.7 6 rev-2020q110xqxex107.htm EX-10.7 Document
  
EXECUTION COPY
Exhibit 10.7



Via E-Mail: scott.beattie@revlon.com
E. Scott Beattie
230 East Rivo Alto Drive
Miami Beach, Florida 33139

Dear Scott:

This letter agreement confirms our mutual understanding that you will cease providing Advisory Services under the Amended and Restated Consulting Agreement, by and among you, Revlon, Inc. and Revlon Consumer Products Corporation, dated as of March 11, 2020 (the “Consulting Agreement”). Capitalized terms not defined herein shall have the meaning set forth in the Consulting Agreement.

Effective April 1, 2020, you will cease providing Advisory Services, and will cease receiving Advisory Services Pay. Advisory Services Pay for any Advisory Services rendered prior to April 1, 2020 shall be paid to you on the Regular Payment Date. The CEO may reinstate the Advisory Services and payment of the Advisory Service Pay when she deems appropriate, in her sole discretion, exercised reasonably.

The parties agree that cessation of Advisory Services under the Consulting Agreement pursuant to this letter agreement does not constitute a termination of the Consulting Agreement and does not trigger any rights or remedies pursuant to Section 8, or any other provision, of the Consulting Agreement.

All other terms of the Consulting Agreement will remain in place during the Term unless further amended by written agreement between the parties.

Please indicate your agreement by signing below.

Sincerely,

/s/ Ely Bar-Ness

Ely Bar-Ness
Chief Human Resources Officer

I agree with and accept the terms as set forth above:



/s/ E. Scott Beattie 
Date: As of March 30, 2020
E. Scott Beattie