Securities and Exchange Commission

Washington, D.C. 20549

 
Current Report on Form 8-K

 
Current Report Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

 
Date of Report (Date of Earliest Event Reported):

February 8,  2005

 
Inter Parfums, Inc.

(Exact name of Registrant as specified in its charter)

Commission File Number  0-16469

		Delaware                                                                         13-3275609

(State or other jurisdiction of                                          
(I.R.S. Employer

incorporation or organization)                                        			Identification No.)

		 

551 Fifth Avenue, New York, New York 10176

(Address of Principal Executive Offices)

 

212. 983.2640

(Registrant's Telephone number, including area code)

 

Item 1.01. Entry into a Material Definitive Agreement
        On February 8, 2005, we entered 
into an employment agreement with Marcella Cacci to act the President of 
Burberry Fragrances, a division of the our Paris-based subsidiary, Inter Parfums, 
S.A. for a three year period. Her salary is $400,000, which is subject to 
adjustment for currency fluctuations under certain circumstances. She is also 
entitled to annual bonuses of $125,000 if Burberry Fragrances reaches certain 
sales targets, and another $125,000 if Burberry Fragrances achieves a specified 
target based upon earnings of Burberry Fragrances before interest and taxes.
        Ms. Cacci is also to receive the 
following benefits:

  
Stock Options: Options to purchase 20,000 ordinary shares of Inter Parfums 
  S.A.'s common stock at a purchase price equal to the fair market value of the 
  shares at the time of the grant, vesting 1/3 each year for three years.

 
  
One Time Issuance of Restricted Shares: Issuance of  5,000 ordinary shares 
  of Inter Parfums S.A. vesting 1/3 each year for three years. 

        Generally, upon termination of the 
employment agreement by us without cause, we are obligated to pay Ms. Cacci 0.75 
times her annual salary and benefits, and if an annual bonus was earned for the 
prior calendar year, then we are obligated to make a lump sum payment equal to 
0.75 times such annual bonus. In addition, all vesting restrictions on the 
option grant and restricted shares shall lapse. 
        If Ms. Cacci terminates the 
employment agreement without cause, then we are obligated  to pay her salary and 
benefits equal to the lesser of a 9 month period, or the number of months she 
worked, together with a pro-rated annual bonus, if earned, for the calendar year 
in which the date of termination occurs based on the number of days she was 
employed during such calendar year. However, upon such termination, all unvested 
options, except to the extent previously exercised, are terminated and all 
restricted shares to the extent not vested are canceled.
        Inter Parfums, S.A. has agreed to 
reimburse us for all of our obligations that we incur under this employment 
agreement. 

 

SIGNATURES

        Pursuant to the requirements of the Securities and Exchange Act of 1934, the Registrant has duly caused and
authorized this report to be signed on its behalf by the undersigned.

Dated: February 8, 2005


  
     
    Inter Parfums, Inc.
By: /s/ Russell Greenberg

      Russell Greenberg, Executive Vice President