What changed in this filing

/stocks — the workspaceLOADING

Item 9A. Controls and Procedures

2024-02-27 compared with 2023-02-28 · 1925 added, 2066 removed, 660 unchanged (86% of the section changed)

Controls and Procedures.

Evaluation of Disclosure Controls and Procedures

Our Chief Executive Officer and Chief Financial

Officer have reviewed and evaluated the effectiveness of our disclosure controls and procedures (as defined in the Securities Exchange

Act of 1934 Rule 13a-15(e)) as of the end of the period covered by this annual report on Form 10-K (the “Evaluation Date”).

Based on their review and evaluation, our Chief Executive Officer and Chief Financial Officer have concluded that as of the Evaluation

Date, our Company’s disclosure controls and procedures were effective.

Management’s Annual Report on Internal Control over

Financial Reporting

The management of Inter Parfums, Inc.

responsible for establishing and maintaining adequate internal control over financial reporting as defined in Rule 13(a)-15(f)

under the Securities Exchange Act of 1934.

With the participation of the Chief Executive Officer and the Chief Financial Officer,

our management conducted an evaluation of the effectiveness of our internal control over financial reporting based on the framework

and criteria established in Internal Control – Integrated Framework (2013) , issued by the Committee of Sponsoring

Organizations of the Treadway Commission.

Based on this evaluation, our management has concluded that our internal control over

financial reporting was effective as of December 31, 2022.

Our independent auditor, Mazars USA LLP,

a registered public accounting firm, has issued its report on its audit of our internal control over financial reporting.

report appears on page F-2.

Changes in Internal Control Over Financial Reporting

There has been no change in our internal

control over financial reporting (as defined in Rule 13a-15(f) of the Securities Exchange Act of 1934) that occurred during the

fourth quarter of 2022 that has materially affected, or is reasonably likely to materially affect, the Company’s internal

control over financial reporting.

Other Information.

Directors, Executive Officers

and Corporate Governance

Executive Officers and Directors

As of the date of this

report, our executive officers and directors were as follows:

Chairman of the Board, Chief Executive Officer of Inter Parfums, Inc.

of Disclosure Controls and Procedures

Chief Executive Officer and Chief Financial Officer have reviewed and evaluated the effectiveness of our disclosure controls and

procedures (as defined in the Securities Exchange Act of 1934 Rule 13a-15(e)) as of the end of the period covered by this annual

report on Form 10-K (the “Evaluation Date”).

Based on their review and evaluation, our Chief Executive Officer and

Chief Financial Officer have concluded that as of the Evaluation Date, our Company’s disclosure controls and procedures were effective.

Annual Report on Internal Control over Financial Reporting

management of Inter Parfums, Inc.

is responsible for establishing and maintaining adequate internal control over financial reporting

as defined in Rule 13(a)-15(f) under the Securities Exchange Act of 1934.

With the participation of the Chief Executive Officer

and the Chief Financial Officer, our management conducted an evaluation of the effectiveness of our internal control over financial

reporting based on the framework and criteria established in Internal Control – Integrated Framework (2013) , issued

by the Committee of Sponsoring Organizations of the Treadway Commission.

Based on this evaluation, our management has concluded

that our internal control over financial reporting was effective as of December 31, 2023.

independent auditor, Mazars USA LLP, a registered public accounting firm, has issued its report on its audit of our internal control

over financial reporting.

This report appears on page F-2.

in Internal Control Over Financial Reporting

has been no change in our internal control over financial reporting (as defined in Rule 13a-15(f) of the Securities Exchange Act

of 1934) that occurred during the fourth quarter of 2023 that has materially affected, or is reasonably likely to materially affect,

the Company’s internal control over financial reporting.

Directors, Executive Officers and Corporate Governance

Officers and Directors

of the date of this report, our executive officers and directors were as follows:

Chairman of the Board,

Chief Executive Officer of Inter Parfums, Inc.

and Director General of Interparfums SA

Philippe Benacin

Vice Chairman of the Board, President of Inter Parfums, Inc.

Vice Chairman of the

Board, President of Inter Parfums, Inc.

and Chief Executive Officer of Interparfums SA

Michel Atwood

Director and Chief Financial Officer

Director and Chief

Financial Officer

Philippe Santi

Director, Executive Vice President and Chief Financial Officer, Interparfums SA

Director and Executive

Vice President of Interparfums SA

François Heilbronn

Robert Bensoussan

Patrick Choël

Veronique Gabai-Pinsky

Gilbert Harrison

Gerard Kappauf

Frederic Garcia-Pelayo

Executive Vice President and Chief Operating Officer of Interparfums SA

Our directors will

serve until the next annual meeting of stockholders and thereafter until their successors shall have been elected and qualified.

Jean Madar and Philippe Benacin have a verbal agreement or understanding to vote their shares and the shares of their respective

holding companies in a like manner.

With the exception

Executive Vice President

and Chief Operating Officer of Interparfums SA

directors will serve until the next annual meeting of stockholders and thereafter until their successors shall have been elected

and qualified.

Jean Madar and Philippe Benacin have a verbal agreement or understanding to vote their shares and the shares

of their respective holding companies in a like manner.

the exception of Mr.

Benacin, the officers are elected annually by the directors and serve at the discretion of the board of directors.

are no family relationships between executive officers or directors of our Company.

Board of Directors

Our board of directors

has the responsibility for establishing broad corporate policies and for the overall performance of our Company.

Although certain

directors are not involved in day-to-day operating details, members of the board of directors are kept informed of our business

by various reports and documents made available to them.

Our board of directors held 18 meetings (or executed consents in lieu

thereof), including meetings of committees of the full board of directors during 2022, and all of the directors attended at least

75% of the meetings (or executed consents in lieu thereof) of the full board of directors and committees of which they were a member.

Our board of directors presently consists of ten (10) directors.

We have adopted a Code

of Business Conduct that applies to our principal executive officer, principal financial officer, principal accounting officer

or controller, as well as other persons performing similar functions, and we agree to provide to any person without charge, upon

request, a copy of our Code of Business Conduct.

Any person who requests a copy of our Code of Business Conduct should provide

their name and address in writing to:

There are no family relationships between executive officers or directors of our Company.

board of directors has the responsibility for establishing broad corporate policies and for the overall performance of our Company.

Although certain directors are not involved in day-to-day operating details, members of the board of directors are kept informed

of our business by various reports and documents made available to them.

Our board of directors held 19 meetings (or executed

consents in lieu thereof), including meetings of committees of the full board of directors during 2023, and all of the directors

attended at least 75% of the meetings (or executed consents in lieu thereof) of the full board of directors and committees of

which they were a member.

Our board of directors presently consists of nine (9) directors.

have adopted a Code of Conduct that applies to our principal executive officer, principal financial officer, principal accounting

officer or controller, as well as other persons performing similar functions and all employees, applicable, and we agree to provide

to any person without charge, upon request, a copy of our Code of Conduct.

Any person who requests a copy of our Code of Conduct

should provide their name and address in writing to:

Inter Parfums, Inc., 551 Fifth Avenue, New York, NY 10176, Att.:

Shareholder Relations.

addition, our Code of Conduct is also maintained on our website, at www.interparfumsinc.com.

During 2022, our board of directors had

the following standing committees:

Audit Committee – The Audit Committee

has the sole authority and is directly responsible for, the appointment, compensation and oversight of the work of the independent

accountants employed by our company which prepare or issue audit reports for our company.

During 2022, this committee consisted

In addition, our Code of Conduct is also maintained on our website, at www.interparfumsinc.com .

2023, our board of directors had the following standing committees:

Audit Committee –

The Audit Committee has the sole authority and is directly responsible for, the appointment, compensation and oversight of

the work of the independent accountants employed by our company which prepare or issue audit reports for our company.

the first 9 months of 2023, this committee consisted of Messrs.

Heilbronn and Choël, and Ms.

Gabai-Pinsky.

The charter of the Audit Committee is posted on our Company’s

The Company does not

have an “audit committee financial expert” within the definition of the applicable Securities and Exchange Commission

Finding qualified nominees to serve as a director of a public company without the comparable financial resources of other

larger, more established companies has been challenging.

In addition, despite the applicable Securities and Exchange Commission

rule which states that being named as the audit committee financial expert does not impose any greater duty, obligation or liability,

our company has been met with resistance from both present and former directors to being named as such, primarily due to potential

additional personal liability.

However, as the result of the background, education and experience of the members of the Audit Committee,

our board of directors believes that such committee members are fully qualified to fulfill their obligations as members of the

Audit Committee.

Choël retired, and was replaced by Mr.

Robert Bensoussan.

The charter of the Audit Committee is posted on our

Company’s website.

Company does not have an “audit committee financial expert” within the definition of the applicable Securities and

Exchange Commission rules.

Finding qualified nominees to serve as a director of a public company without the comparable financial

resources of other larger, more established companies has been challenging.

In addition, despite the applicable Securities and

Exchange Commission rule which states that being named as the audit committee financial expert does not impose any greater duty,

obligation or liability, our company has been met with resistance from both present and former directors to being named as such,

primarily due to potential additional personal liability.

However, as the result of the background, education and experience of

the members of the Audit Committee, our board of directors believes that such committee members are fully qualified to fulfill

their obligations as members of the Audit Committee.

The Chair of the Audit Committee, Mr.

François Heilbronn, is a graduate of Harvard Business School with

a Master of Business Administration degree and is currently the managing partner of the consulting firm of M.M.

Friedrich, Heilbronn & Fiszer which is specialized in business strategy and complex financial operations and investments.

Executive Compensation and Stock Option

Committee – The Executive Compensation and Stock Option Committee oversees the compensation of our Company’s executives

and administers our company’s stock option plans.

During 2022, this committee consisted of Messrs.

Heilbronn and Choël,

François Heilbronn, is a graduate

of Harvard Business School with a Master of Business Administration degree and is currently the managing partner of the consulting

Friedrich, Heilbronn & Fiszer which is specialized in business strategy and complex financial operations and

Executive Compensation

and Stock Option Committee – The Executive Compensation and Stock Option Committee oversees the compensation of our

Company’s executives and administers our company’s stock option plans.

During the first 9 months of 2023, this

committee consisted of Messrs.

Heilbronn and Choël, and Ms.

Gabai-Pinsky.

The charter of the Executive Compensation and Stock Option Committee is posted on our company’s

Nominating Committee – During 2022,

this committee consisted of Messrs.

Following the election of directors at the

2023 annual meeting, Robert Bensoussan replaced Mr.

Choël on the Executive Compensation and Stock Option Committee.

charter of the Executive Compensation and Stock Option Committee is posted on our company’s website.

Nominating Committee

– During the first 9 months of 2023, this committee consisted of Messrs.

Heilbronn and Choël, and Ms.

Gabai-Pinsky.

The purpose of the Nominating Committee

is to determine and recommend qualified persons to the Board of Directors who will be put forth as management’s slate

of directors for vote of the Corporation’s stockholders, as well as to fill vacancies in the Board of Directors.

charter of the Nominating Committee is posted on our Company’s website.

We have adopted a board

diversity policy, which provides that the selection of candidates for appointment to our board will be based on an overriding emphasis

on merit, but the Nominating Committee will seek to fill board vacancies by considering candidates that bring a diversity of background

and industry or related expertise to our board.

The Nominating Committee is to consider an appropriate level of diversity having

regard for factors such as skills, business and other experience, education, gender, age, ethnicity and geographic location.

copy of the board diversity policy is posted on our company’s website.

In addition, Nasdaq has adopted a Board Diversity

Rule, which requires Nasdaq listed companies to publicly disclose board-level diversity statistics using a standardized template

By the 2025 annual meeting, we will be required to disclose whether or not we have two directors that are diverse

under the applicable Nasdaq rule, and if not, then why not.

We do not foresee any issue in complying with Nasdaq Board Diversity

Rule at this time.

Nasdaq Board Diversity

As required by the the Nasdaq Diversity

Rule, the board of directors of our company presently has one (1) member who self-identifies as a female and one (1) member who

identifies as Hispanic, which is in compliance with the Nasdaq Board Diversity rule.

Below is the Nasdaq Board Diversity Matrix,

which shows the gender identity and demographic background of our board of directors as they have self-identified.

Board Diversity Matrix for INTER PARFUMS INC.

As of February 28, 2023

Total Number of Directors

Gender Identity

Did Not Disclose Gender

Following the election of directors at the 2023 annual meeting, Robert Bensoussan replaced Mr.

Choël on this committee.

The purpose of the Nominating Committee is to determine and recommend qualified persons to the Board of Directors who will

be put forth as management’s slate of directors for vote of the Corporation’s stockholders, as well as to fill

vacancies in the Board of Directors.

The charter of the Nominating Committee is posted on our Company’s website.

have adopted a board diversity policy, which was revised in early 2024.

This policy provides that the selection of candidates

for appointment to our board will be based on an overriding emphasis on merit, but the Nominating Committee will seek to fill

board vacancies by considering candidates that bring a diversity of background and industry or related expertise to our board.

The Nominating Committee is to consider an appropriate level of diversity having regard for factors such as skills, business and

other experience, education, gender, age, ethnicity and geographic location.

A copy of the board diversity policy is posted on

our company’s website.

In addition, Nasdaq has adopted a Board Diversity Rule, which requires Nasdaq listed companies to

publicly disclose board-level diversity statistics using a standardized template.

By the 2025 annual meeting, we will be required

to disclose whether or not we have two directors that are diverse under the applicable Nasdaq rule, and if not, then why not.

We do not foresee any issue in complying with Nasdaq Board Diversity Rule at this time.

Board Diversity

required by the Nasdaq Diversity Rule, the board of directors of our company presently has one (1) member who self-identifies

as a female and white, and one (1) male member who identifies as Hispanic and white (two or more races or ethnicities), which

is in compliance with the Nasdaq Board Diversity rule.

Below is the Nasdaq Board Diversity Matrix, which shows the gender identity

and demographic background of our board of directors as they have self-identified.

Diversity Matrix for

INTER PARFUMS, INC.

of July 18, 2023

of February 12, 2024

Number of Directors

Not Disclose Gender

Demographic Background

African American or Black

Alaskan Native or American Indian

Hispanic or Latinx

Native Hawaiian or Pacific Islander

Two or More Races or Ethnicities

Did Not Disclose Demographic Background

Business Experience

The following sets

forth biographical information as to the business experience of each executive officer and director of our company for at least

the past five years.

Jean Madar, age

62, a Director, has been the Chairman of the Board since our Company’s inception, and is a co-founder of our Company with

American or Black

Native or Native American

Hawaiian or Pacific Islander

or More Races or Ethnicities*

Not Disclose Demographic Background

director self-identified as both “White” and “Hispanic or Latinx”.

following sets forth biographical information as to the business experience of each executive officer and director of our company

for at least the past five years.

Madar, age 63, a Director, has been the Chairman of the Board since our Company’s inception, and is a co-founder of our

Company with Mr.

Philippe Benacin.

From inception until December 1993, he was the President of our Company;

in January 1994, he became Director

General of Interparfums SA, our Company’s subsidiary;

and in January 1997, he became Chief Executive Officer of our Company.

in January 1994, he

became Director General of Interparfums SA, our Company’s subsidiary;

and in January 1997, he became Chief Executive Officer

of our Company.

Madar was previously the managing director of Interparfums SA, from September 1983 until June 1985.

At such subsidiary, he

had the responsibility of overseeing the marketing operations of its foreign distribution, including market research analysis

and actual marketing campaigns.

Madar graduated from The French University for Economic and Commercial Sciences (ESSEC) in

subsidiary, he had the responsibility of overseeing the marketing operations of its foreign distribution, including market research

analysis and actual marketing campaigns.

Madar graduated from The French University for Economic and Commercial Sciences (ESSEC),

the prestigious French business school, in 1983.

We believe that Mr.

Madar’s skills in guiding, leading and determining the strategic direction of our company since

its inception together with Mr.

Benacin, in addition to his contacts in the fragrance and cosmetic industry, render him qualified

to serve as a member of our board of directors.

Philippe Benacin

64, a Director, is President of our Company and the Chief Executive Officer of Interparfums SA, has been the Vice Chairman of

the Board since September 1991, and is a co-founder of our Company with Mr.

He was elected the Executive Vice President

in September 1991, Senior Vice President in April 1993, and President of the Company in January 1994.

In addition, he has been

the President of our Company and Chief Executive Officer of Interparfums SA for more than the past five years.

Benacin graduated

from The French University for Economic and Commercial Sciences (ESSEC) in 1983.

Madar’s skills in guiding, leading and determining

the strategic direction of our company since its inception together with Mr.

Benacin, in addition to his contacts in the fragrance

and cosmetic industry, render him qualified to serve as a member of our board of directors.

Benacin, age 65, a Director, is President of our Company and the Chief Executive Officer of Interparfums SA, has been the Vice

Chairman of the Board since September 1991, and is a co-founder of our Company with Mr.

He was elected the Executive Vice

President in September 1991, Senior Vice President in April 1993, and President of the Company in January 1994.

In addition, he

has been the President of our Company and Chief Executive Officer of Interparfums SA for more than the past five years.

graduated from The French University for Economic and Commercial Sciences (ESSEC), the prestigious French business school, in

In June 2014 Mr.

Benacin was elected as a member

of the Supervisory Board of Vivendi, and Chairman of its Corporate Governance, Nominations and Remuneration Committee.

Benacin’s skills in guiding, leading and determining the strategic direction of our company since its inception

together with Mr.

Madar, in addition to his contacts in the fragrance and cosmetic industry, render him qualified to serve as

a member of our board of directors.

Michel Atwood

Atwood, age 53, became our Chief

Financial Officer on September 6, 2022, succeeding Mr.

Russell Greenberg, the former Chief Financial Officer, who retired on that

Atwood was first elected to our Board of Directors at the 2022 Annual Meeting held in September 2022.

From September

2018 through March 2022 while at Estée Lauder, Mr.

Atwood had strategic oversight for the fragrance category across that

company and operational accountability for several of its fragrance brands.

He also had senior level merger and acquisition (“M&A”)

duties, including acquisition integration and brand divestitures/discontinuations.

Over his nearly four years at Estée

Lauder, he also drove cross-brand synergies across research and development and supply chain for the fragrance category.

February 2017 to August 2018, he was an independent consultant as an M&A advisor on multiple fragrance license acquisitions

and also acted as a private investor.

From 1995 to 2017,

Atwood has held several executive positions at Procter & Gamble (“P&G”) in France, Switzerland, Italy and

His final title at P&G was Divisional CFO of Global Prestige Fragrances, leading a 90 member team, and ultimately

spearheading the divestiture of that division to Coty.

Earlier he was CFO Global Markets – Prestige Fragrances, a business

generating over $2 billion in sales, where he headed a globally dispersed team of 60 people supporting the go-to-market organization

(affiliates, Travel Retail and distributors) of the Prestige Division.

Before that, he was Global Prestige Director of Strategic

Planning, Licensing and Acquisition shaping and executing the overall business direction and licensing and acquisition strategy

of P&G’s Global Fragrance and Premium skin and cosmetics businesses.

Michel Atwood holds

a Master’s degree in Software Engineering from the Institut National des Sciences Appliquées of Lyon, and a Master’s

in International Finance from HEC Paris, the prestigious French business school.

He also earned the designation of Certified Management

Accountant from the Institute of Management Accountants.

He has a truly international background, working/living in France, Switzerland,

the U.S., Canada, Turkey and Italy.

Benacin was elected as a member of the Supervisory Board of Vivendi, and Chairman of its Corporate Governance,

Nominations and Remuneration Committee.

We believe that Mr.

Atwood’s skills and experience in accounting, international tax,

mergers and acquisitions, as well as his knowledge of the fragrance industry, render him qualified to serve as a member of our

board of directors.

Philippe Santi

Philippe Santi, age

61, and a Director since December 1999, is the Executive Vice President and Chief Financial Officer of Interparfums SA.

who is a Certified Accountant and Statutory Auditor in France, has been the Chief Financial Officer of Interparfums SA since February

Benacin’s skills in guiding, leading and determining the strategic

direction of our company since its inception together with Mr.

Madar, in addition to his contacts in the fragrance and cosmetic

industry, render him qualified to serve as a member of our board of directors.

Atwood, age 54, became our Chief Financial Officer on September 6, 2022, succeeding Mr.

Russell Greenberg, the former Chief Financial

Officer, who retired on that same date.

Atwood was first elected to our Board of Directors at the 2022 Annual Meeting held

in September 2022.

September 2018 through March 2022 while at Estée Lauder, Mr.

Atwood had strategic oversight for the fragrance category

across that company and operational accountability for several of its fragrance brands.

He also had senior level merger and acquisition

(“M&A”) duties, including acquisition integration and brand divestitures/discontinuations.

Over his nearly four

years at Estée Lauder, he also drove cross-brand synergies across research and development and supply chain for the fragrance

From February 2017 to August 2018, he was an independent consultant as an M&A advisor on multiple fragrance license

acquisitions and also acted as a private investor.

1995 to 2017, Mr.

Atwood has held several executive positions at Procter & Gamble (“P&G”) in France, Switzerland,

Italy and Germany.

His final title at P&G was Divisional CFO of Global Prestige Fragrances, leading a 90 member team, and

ultimately spearheading the divestiture of that division to Coty.

Earlier he was CFO Global Markets – Prestige Fragrances,

a business generating over $2 billion in sales, where he headed a globally dispersed team of 60 people supporting the go-to-market

organization (affiliates, Travel Retail and distributors) of the Prestige Division.

Before that, he was Global Prestige Director

of Strategic Planning, Licensing and Acquisition shaping and executing the overall business direction and licensing and acquisition

strategy of P&G’s Global Fragrance and Premium skin and cosmetics businesses.

Atwood holds a master’s degree in software engineering from the Institut National des Sciences Appliquées of Lyon,

and a master’s in international finance from HEC Paris, the prestigious French business school.

He also earned the designation

of Certified Management Accountant from the Institute of Management Accountants.

He has a truly international background, working/living

in France, Switzerland, the U.S., Canada, Turkey and Italy.

We believe that Mr.

Atwood’s skills and experience in accounting,

international tax, mergers and acquisitions, as well as his knowledge of the fragrance industry, render him qualified to serve

as a member of our board of directors.

Santi, age 62, and a Director since December 1999, is the Executive Vice President of Interparfums SA.

Santi, who is a Certified

Accountant and Statutory Auditor in France, was the Chief Financial Officer of Interparfums SA beginning in February 1995 until

November 2023.

Prior to February 1995, Mr.

Santi was the Chief Financial Officer for Stryker France and an Audit Manager for Ernst and Young.

Santi was the Chief Financial Officer for Stryker France and an Audit Manager for Ernst

We believe that Mr.

Santi’s skills in accounting and tax, as well as his knowledge of the fragrance industry and our Company’s

European operations, render him qualified to serve as a member of our board of directors.

Francois Heilbronn

Heilbronn, age

61, a Director since 1988, an independent director and a member of the Audit Committee, Nominating Committee and the Executive

Compensation and Stock Option Committee, is a graduate of Harvard Business School with a Master of Business Administration degree

and is currently the managing partner of the consulting firm of M.M.

Santi’s skills in accounting and tax, as well as his knowledge of the fragrance industry

and our Company’s European based operations, render him qualified to serve as a member of our board of directors.

Heilbronn, age 63, a Director since 1988, an independent director and a member of the Audit Committee, Nominating Committee and

the Executive Compensation and Stock Option Committee, is a graduate of Harvard Business School with a Master of Business Administration

degree and is currently the managing partner of the consulting firm of M.M.

Friedrich, Heilbronn & Fiszer.

He was formerly employed

by The Boston Consulting Group, Inc.

He was formerly

employed by The Boston Consulting Group, Inc.

from 1988 through 1992 as a manager.

Heilbronn graduated from Institut d’ Etudes

Politiques de Paris in June 1983.

Heilbronn graduated from Institut d’

Etudes Politiques de Paris in June 1983.

From 1984 to 1986, he worked as a financial analyst for Lazard Freres & Co.

1 unchanged sentence

Heilbronn became an Associate Professor in Business Strategy at Sciences Po, Paris, France.

As the result of his

business and financial acumen, as well as his experience as managing partner of a business consulting firm in the area of mergers

and acquisitions of large international companies in retail, consumer goods and consumer services throughout the world, we believe

As the result of

his business and financial acumen, as well as his experience as managing partner of a business consulting firm in the area of

mergers and acquisitions of large international companies in retail, consumer goods and consumer services throughout the world,

we believe Mr.

Heilbronn is qualified to serve as a member of our board of directors.

Robert Bensoussan

Robert Bensoussan,

age 65, has been a Director since March 1997, and is also an independent director.

Bensoussan is the founder of Sirius Equity

Consultants, a retail and branded luxury goods investment company.

Bensoussan remains as an investor in Hapy Sweet

Bee Ltd, natural health food products,

He was previously

Chairman of Camaïeu, the French retail conglomerate, a board member of Celio International, the French retail conglomerate

and Vivarte representing the GLG hedge fund.

Robert Bensoussan, age 66, has been a Director since March 1997 and is also an independent director.

Bensoussan founded Sirius

Equity Consultants, a retail and branded luxury goods investment company.

Bensoussan remains an investor in Hapy

Sweet Bee Ltd, natural health food product.

is a member of the Advisory Board of Pictet Bank Premium Brands Fund and sits on the board of Yonderland, Europe’s largest

premium outdoor retailer.

Bensoussan was a director of, and had an indirect ownership interest in, J.

Choo Limited until July 2011, and was CEO from

2001 to 2007, and was a member of the Board of Jimmy Choo Ltd, from 2001 to 2011, which had been a privately held luxury shoe

wholesaler and retailer.

He was previously Chairman of Camaïeu, the French retail conglomerate, a board member of Celio International,

the French retail conglomerate and Vivarte representing the GLG hedge fund.

In the latter part of 2019, Mr.

Bensoussan resigned after 6 years as the only non-North

American board member of lululemon athletica Inc.

Bensoussan resigned

after 6 years as the only non-North American board member of Lululemon Athletica Inc.

Following the successful sale in 2021, Mr

Bensoussan stepped down from the

board of Feelunique.com, one of Europe’s largest online beauty retailers after serving 9 years.

He is a member of the

Advisory Board of Pictet Bank Premium Brands Fund and sits on the board of Pronovias, the worldwide leader of wedding dresses.

Yonderland, Europe’s largest premium outdoor retailer and SNS, a prominent aspirational streetwear and entertainment hub.

Previously Mr.

Bensoussan was as director of, and had an indirect ownership interest in, J.

Choo Limited until July 2011, and was CEO from 2001

to 2007, and was a member of the Board of Jimmy Choo Ltd, from 2001 to 2011, which had been a privately held luxury shoe wholesaler

and retailer.

We believe Mr.

is qualified to serve as a member of our board of directors due to his business and financial acumen, as well as his experience

in the retail and branded luxury goods market.

Patrick Choël

age 79, was appointed to the board of directors in June 2006 as an independent director, and is a member of the Audit Committee,

Nominating Committee and the Executive Compensation and Stock Option Committee.

Choël is a director of our majority-owned

subsidiary, Interparfums SA, a publicly held company, and Christian Dior a privately held company.

For approximately 10 years,

through March 2004, Mr.

Choël was the President and CEO of two divisions of LVMH Moet Hennessy Louis Vuitton S.A., first

Parfums Christian Dior, a leading world-wide prestige beauty/fragrances business, and later, the LVMH Perfumes and Cosmetics Division,

which included such well-known brands as Parfums Christian Dior, Guerlain, and Parfums Givenchy, among others.

Prior to such time,

for approximately 30 years, he held various executive positions at Unilever, including President and CEO of Elida Fabergé

France and President and CEO of Chesebrough Pond’s USA.

Because of this experience, especially in the prestige beauty business,

we believe that Mr.

Choël is qualified to serve as a member of our board of directors.

Michel Dyens, age 82

and an independent director, is the Founder, Chairman and Chief Executive Officer of Michel Dyens & Co., which he founded over

25 years ago.

With headquarters in New York and Paris, Michel Dyens & Co.

is a leading independent investment banking firm

focused on mergers and acquisitions.

Michel Dyens & Co.

has vast experience in luxury goods, beauty, spirits and other premium

branded consumer goods in which it has concluded numerous landmark deals.

Michel Dyens & Co.

has advised in such deals as the

sale of the Grey Goose ultra-premium vodka brand to Bacardi, the acquisition of the luxury Swiss watchmaker Hublot by LVMH, the

sale of the Harry Winston to Aber Diamond Corporation and Boucheron to Kering.

Michel Dyens & Co.

represented the owners of

Liaigre, the luxury furniture brand, in the sale to Symphony International and Navis Capital, and Casa Dragones, the ultra-premium

tequila, in the sale to BDT Partners (Byron Trott).

In 2021, Michel

represented the owners of Buly, the luxury French fragrance and beauty brand, in the sale to LVMH and the owners

of Blissim, the French leader in beauty subscription e-commerce, and online beauty retail for an investment by Raise Investissement.

In addition, he has just sold We11done, the Korean contemporary fashion and lifestyle brand, to Sequoia Capital.

was the exclusive advisor to Creed in the sale of the ultra-luxury fragrance company Creed BlackRock Long Term

Private Capital, and represented Mr.

Chin Wook Lee, the founder and CEO of Dr.

Jart+, in the sale of Have & Be Co.

to The Estée Lauder Companies.

Michel Dyens & Co.

also advised the owner of the ultra-luxury fragrance brand By

Kilian, in the sale to Estée Lauder.

Michel Dyens & Co.

advised the shareholders of the largest independent hair

color and hair care company in Brazil, Niely Cosmeticos in the sale of the company to L’Oréal, as well as the

owner of the super-premium liqueur St-Germain in the sale of the brand to Bacardi, the Colomer Group (American Crew and

CND/Shellac brands) in its sale to Revlon, and Sidney Frank Importing Company in the sale of the company to Jaegermeister.

Other transactions include the sale of the Essie cosmetics business to L’Oréal, the sale of TIGI (BedHead and

Catwalk brands) to Unilever, the luxury hair care brand Christophe Robin to The Hut Group, the thinning hair brand NIOXIN

Research Laboratories to Procter & Gamble, John Frieda Professional Hair Care and Molton Brown to the Kao Corporation,

the Svedka vodka brand to Constellation Brands and Chambord liqueur to Brown-Forman.

In the mission-driven

field, Michel Dyens & Co.

recently represented ClimateCare, a prominent UK carbon-offset business, in the sale to Averna Capital

and represented the founders of Caboo Paper Products a Vancouver, Canada-based tree-free household paper products brand, for an

investment by sustainability-focused venture capital firm Renewal Funds.

Among other recent transactions, Michel Dyens & Co.

recently represented the Fairtrade and organic coffee brand Ethical Bean Coffee in the sale to Kraft Heinz, and as well as Alter

Eco Americas, a leading organic chocolate brand, which we sold to NextWorld Evergreen.

In healthy and premium

food, Michel Dyens & Co.

represented the Fairtrade and organic coffee brand Ethical Bean Coffee in the sale to Kraft Heinz,

and as well as Alter Eco Americas, a leading organic chocolate brand, which it sold to NextWorld Evergreen.

From April 2004

to September 2014, Mr.

Dyens was an independent director of Interparfums SA.

We believe Mr.

Dyens is qualified to serve as a member

of our board of directors thanks to his knowledge of our Company’s luxury business, his business and financial acumen, as

well as his experience in the luxury goods market.

Veronique Gabai-Pinsky

Gabai-Pinsky,

age 57, was elected for the first time to our board in September 2017.

She became a director of Interparfums SA in April 2017.

Bensoussan stepped down from the board of Feelunique.com, one of Europe’s largest online beauty retailers after serving

Bensoussan served on the board of SNS, a prominent aspirational streetwear and entertainment hub in addition

to serving on the board of Pronovias, the worldwide leader of wedding dresses.

Bensoussan is qualified to serve as a member of our board of directors due to his business and financial acumen and

his experience in the retail and branded luxury goods market.

Gabai-Pinsky, age 58, was elected for the first time to our board in September 2017.

She became a director of Interparfums, SA

in April 2017.

She is currently operating a startup specialty fragrance business, and a director of Lifetime Brands (Nasdaq:

LCUT), which is

in the home goods business.

She was President of Vera Wang Group from January 2016 through June 2018, after a year of consulting

with the company and she oversaw all product categories and markets.

Prior to joining Vera Wang, from 2006 to December 2014, Ms.

Gabai-Pinsky was the Global President for Aramis and Designers Fragrances as well as Beauty Bank and Idea Bank at The Estée

Lauder Companies, reporting to the Chief Executive Officer of such company.

which is in the home goods business.

She was President of Vera Wang Group from January 2016 through June 2018, after a year of

consulting with the company and she oversaw all product categories and markets.

Prior to joining Vera Wang, from 2006 to December

Gabai-Pinsky was the Global President for Aramis and Designers Fragrances as well as Beauty Bank and Idea Bank at The

Estée Lauder Companies, reporting to the Chief Executive Officer of such company.

During her tenure, Ms.

Gabai-Pinsky developed and

ensured the growth of several beauty and skin care brands, including Lab Series for Men.

She was highly instrumental in the evolution

of the fragrance category for such company, as she improved its overall business model, globally grew brands such as Donna Karan

and Michael Kors, evolved and harmonized the portfolio, divested dilutive brands and brought in Tory Burch, Zegna and Marni under

She ultimately actively participated in the acquisitions of Le Labo, Frederic Malle, and By Kilian and assisted in the

transformation of the long-term strategic direction of such company.

In the earlier years

of her career, Ms.

Gabai-Pinsky served as Vice President of Marketing and Communication for Guerlain, a division of LVMH Moet Hennessy

Louis Vuitton S.A., where she led the successful re-launch of Shalimar, the introduction of Aqua Allegoria, and contributed to

the re-focus of the beauty category around its pillars, Terracotta, Meteorites and Issima, while redesigning all communication

strategies and content.

She started her career at L’Oréal, and was also Vice President of Marketing for Giorgio Armani,

where she was instrumental in the overall development of its fragrance business by developing the successful Acqua di Gio for men

and introducing the Emporio Armani franchise.

A graduate from ESSEC Business School in Paris, France, she has received several

awards, including Marketer of the Year by Women’s Wear Daily in December 2013.

is an independent director, and is a member of the Audit Committee, Executive Compensation and Stock Option Committee and the

Nominating Committee of our Company.

Gabai-Pinsky developed

and ensured the growth of several beauty and skin care brands, including Lab Series for Men.

She was highly instrumental in the

evolution of the fragrance category for such company, as she improved its overall business model, globally grew brands such as

Donna Karan and Michael Kors, evolved and harmonized the portfolio, divested dilutive brands and brought in Tory Burch, Zegna

and Marni under licenses.

She ultimately actively participated in the acquisitions of Le Labo, Frederic Malle, and By Kilian and

assisted in the transformation of the long-term strategic direction of such company.

the earlier years of her career, Ms.

Gabai-Pinsky served as Vice President of Marketing and Communication for Guerlain, a division

of LVMH Moet Hennessy Louis Vuitton S.A., where she led the successful re-launch of Shalimar, the introduction of Aqua Allegoria,

and contributed to the re-focus of the beauty category around its pillars, Terracotta, Meteorites and Issima, while redesigning

all communication strategies and content.

She started her career at L’Oréal, and was also Vice President of Marketing

for Giorgio Armani, where she was instrumental in the overall development of its fragrance business by developing the successful

Acqua di Gio for men and introducing the Emporio Armani franchise.

A graduate from ESSEC Business School in Paris, France, she

has received several awards, including Marketer of the Year by Women’s Wear Daily in December 2013.

Gabai-Pinksy is an independent director, and is a member of the Audit Committee, Executive Compensation and Stock Option Committee

and the Nominating Committee of our Company.

We believe Ms.

Gabi-Pinsky is qualified to serve as a member of our board of directors due

to her more than 25 years of experience in the luxury, fashion, beauty and fragrance fields, success as a brand builder, creative

Gabi-Pinsky is qualified to serve as a member of our board of directors

due to her more than 25 years of experience in the luxury, fashion, beauty and fragrance fields, success as a brand builder, creative

thinker, business acumen, and a broad understanding of consumers, brands and business models.

Gilbert Harrison

Harrison, age 82,

an independent director, was appointed to our board in April 2018.

Harrison has more than 50 years of experience in corporate

finance and strategic transactions, specializing in the consumer products space.

He began his career in 1965 practicing corporate

and securities law in New York and Philadelphia.

In 1971 he founded Financo, which he grew to become one of the leading independent

middle market transaction firms in the country.

In 1985, Financo was acquired by Lehman Brothers, where the firm’s primary

efforts were focused on increasing its expertise in retail, apparel and other merchandising transactions of all types.

Harrison was Chairman of the Merchandising Group and on the firm’s Investment Banking Operating Committee while continuing

as Chairman of Financo, which was renamed the Middle Market Group of Lehman.

In 1989, he re-acquired Financo from Lehman, re-establishing

Financo as one of the leading investment banking firms handling transactions and providing strategic advice in connection with

merchandising companies.

Harrison retired as Chairman of Financo in December of 2017, after which he formed the Harrison Group,

a firm that provides consulting and financial advisory services to merchandising and products companies.

other activities include his membership on the Advisory Council of the World Retail Congress, Shoptalk and the Financial Times

Business of Luxury Summit.

Additionally, he has created a course on mergers and acquisitions at The Wharton School and has published

various articles and academic studies on the state of retailing and mergers and acquisitions, including a chapter in the book entitled,

“The Mergers and Acquisitions Handbook.” Mr.

Harrison lectures throughout the country, including chairing seminars

for Retail Week as well as for the International Council of Shopping Centers, the National Retail Federation, Young President’s

Center, The Wharton Aresty Institute of Executive Education and The President’s Association of the American Management Association.

Harrison, age 83, an independent director, was appointed to our board in April 2018.

Harrison has more than 50 years of experience

in corporate finance and strategic transactions, specializing in the consumer products space.

He began his career in 1965 practicing

corporate and securities law in New York and Philadelphia.

In 1971 he founded Financo, which he grew to become one of the leading

independent middle market transaction firms in the country.

In 1985, Financo was acquired by Lehman Brothers, where the firm’s

primary efforts were focused on increasing its expertise in retail, apparel and other merchandising transactions of all types.

At Lehman, Mr.

Harrison was Chairman of the Merchandising Group and on the firm’s Investment Banking Operating Committee

while continuing as Chairman of Financo, which was renamed the Middle Market Group of Lehman.

In 1989, he re-acquired Financo

from Lehman, re-establishing Financo as one of the leading investment banking firms handling transactions and providing strategic

advice in connection with merchandising companies.

Harrison retired as Chairman of Financo in December of 2017, after which

he formed the Harrison Group, a firm that provides consulting and financial advisory services to merchandising and products companies.

Harrison’s other activities include his membership on the Advisory Council of the World Retail Congress, Shoptalk and the

Financial Times Business of Luxury Summit.

Additionally, he has created a course on mergers and acquisitions at The Wharton School

and has published various articles and academic studies on the state of retailing and mergers and acquisitions, including a chapter

in the book entitled, “The Mergers and Acquisitions Handbook.” Mr.

Harrison lectures throughout the country, including

chairing seminars for Retail Week as well as for the International Council of Shopping Centers, the National Retail Federation,

Young President’s Center, The Wharton Aresty Institute of Executive Education and The President’s Association of the

American Management Association.

He also appears frequently on Bloomberg TV and CNBC as an expert on retail and apparel.

Harrison received

a Bachelor of Science in Economics from The Wharton School of The University of Pennsylvania in 1962 and his Juris Doctor from

The University of Pennsylvania Law School in 1965.

He is also Chairman of the Fashion Division of UJA, Treasurer and a Board member

of the Southampton Hospital, Director of the Peggy Guggenheim Collection, and former Board member of the Wharton School of the

University of Pennsylvania.

Harrison received a Bachelor of Science in Economics from The Wharton School of The University of Pennsylvania in 1962 and his

Juris Doctor from The University of Pennsylvania Law School in 1965.

He is also Chairman Emeritus of the Fashion Division of UJA,

Treasurer and a Board member of the Southampton Hospital, a retired Director of the Peggy Guggenheim Collection, and former Board

member of the Wharton School of the University of Pennsylvania.

We believe Mr.

Harrison is qualified to serve as a member of our board of directors due to his tremendous

depth and breadth of knowledge about the merchandising and consumer industry, and he has a long track record of facilitating value-creating

transactions for companies in this sector.

Harrison’s autobiography, Deal Junky , was published in January 2022.

Frederic Garcia-Pelayo

Frederic Garcia-Pelayo,

age 61, has been with Interparfums SA for more than the past 20 years.

He is currently the Executive Vice President and Chief Operating

Officer of Interparfums SA, and was previously the Director of its Luxury and Fashion division beginning in March 2005.

also previously the Director of Marketing and Distribution for Perfume and Cosmetics and was first named Executive Vice President

Section 16(a) Beneficial Ownership

Reporting Compliance

Based solely upon a

review of Forms 3, 4 and 5 and any amendments to such forms furnished to us, and written representations from various reporting

persons furnished to us, we are not aware of any reporting person who has failed to file the reports required to be filed under

Section 16(a) of the Securities Exchange Act of 1934 on a timely basis.

Harrison is qualified to serve as a member of our

board of directors due to his tremendous depth and breadth of knowledge about the merchandising and consumer industry, and he

has a long track record of facilitating value-creating transactions for companies in this sector.

Harrison’s autobiography,

Deal Junky , was published in January 2022.

Kappauf (“Kappauf”), age 62, a director, was born in Madagascar.

After studying Classic Literature at the Sorbonne

in Paris, he attended the San Francisco Art Institute on a scholarship and worked as a special effects make-up artist in Los Angeles.

traveling to Paris, Kappauf became interested in fashion and worked at a Jean Paul Gaultier fashion show.

this experience, he began to expand his network by meeting emblematic figures in the industry such as Paco Rabanne.

providing marketing and acquisition consulting services to L’Oréal Group during the tenure of Lindsay Owen Jones

as its Chairman, in a bid for independence and emancipation he founded his own magazine in 1992, Citizen K.

Through Citizen

K, he realized his ambition to launch a major magazine for a wide audience on fashion, luxury, culture, and the art of living,

truly different from the magazines already in existence.

Citizen K magazine then became Citizen K International

in 2012, a benchmark in fashion, luxury, and lifestyle.

Kappauf expanded the magazine’s offering with the launch

of Citizen K Homme in 2013, and 2014 was the year of change for Citizen K International with a new format and a

2016 Kappauf’s launched Citizen K Arabia.

This title, distributed in the Middle East, benefits from editorial

development and format adapted to the market.

Although 80% of Citizen K International’s editorial content is contained

in Citizen K Arabia, this magazine still features 20% of content tailored to The Emirates and the Middle East.

2021, Kappauf launched The Kurator, the first a-gender magazine in the Middle East, as a luxury supplement

to Gulf News, the leading daily newspaper in the region.

in January 1992 by Kappauf, he has been the Chief Executive Officer, and Creative and Editorial Director of the K Groupe since

inception, which owns Citizen K magazines in Paris, as well as Enkore Studio in Dubai.

Enkore Studio specializes in visual brand

identity, digital content, storytelling and concept development for the fashion, luxury, beauty, and lifestyle industries.

now lives in Dubai and is currently working on projects in India.

We believe that Kappauf’s perspective on fashion,

luxury, culture, and the art of living will bring diversity of viewpoints to our Board of Directors.

Garcia-Pelayo

Garcia-Pelayo, age 61, has been with Interparfums SA for more than the past 20 years.

He is currently the Executive Vice President

and Chief Operating Officer of Interparfums SA, and was previously the Director of its Luxury and Fashion division beginning in

He was also previously the Director of Marketing and Distribution for Perfume and Cosmetics and was first named Executive

Vice President in 2004.

16(a) Beneficial Ownership Reporting Compliance

solely upon a review of Forms 3, 4 and 5 and any amendments to such forms furnished to us, and written representations from various

reporting persons furnished to us, we are not aware of any reporting person who has failed to file the reports required to be

filed under Section 16(a) of the Securities Exchange Act of 1934 on a timely basis.

Trading Policy

use of material non-public information in securities transactions (“Insider Trading”) or the communication of such

information to others who use it in securities trading (“Tipping”) violates the federal securities laws.

Such violations

are likely to result in harsh consequences for the individuals involved including exposure to investigations by the SEC, criminal

and civil prosecution, disgorgement of any profits realized or losses avoided through use of the non-public information and penalties

equal to three times such profits or losses.

Further, Insider Trading violations expose the Company, its management, and other

personnel acting in supervisory capacities to potential civil liabilities and penalties for the actions of employees under their

control who engage in Insider Trading violations.

a director, officer or employee of our Company is aware of material information relating to the Company, which has not yet been

made available to the public for at least two (2) full business days, then such person is prohibited by law as well as by Company

policy from trading in the Company’s shares or directly or indirectly disclosing such information to any other persons so

that they may trade in the Company’s shares.

It is difficult to describe what constitutes “material” information,

but one should assume that any information, positive or negative, which might be of significance to an investor in determining

whether to purchase, sell or hold our stock, would be material.

may be significant for this purpose even if it would not alone determine the investor’s decision.

Examples include a potential

business acquisition, internal financial information which departs in any way from what the market would expect, important product

developments, the acquisition or loss of a major contract, or an important financing transaction.

We emphasize that this list

is not meant to be exhaustive, but merely illustrative.

only is it illegal to engage in Insider Trading or convey such information to others in breach of a duty, it is also generally

illegal to “tip” such information to others who may trade in the securities involved or to recommend the purchase

or sale of securities to others while you are in possession of such information.

It is the policy of the Company that one should

never trade while in possession of material, non-public information or tip or communicate such information to others without first

receiving authorization from the Company or our counsel.

This policy applies to your personal transactions and those indirectly

through a spouse, friend, corporation or other entity.

This applies to the securities of the Company and of other corporations.

Thus, if in the course of the Company’s business, a person learns of material non-public information concerning another

corporation (such as a customer or supplier) you should abstain from trading in that corporation’s securities.

this policy applies to securities transactions by individuals who reside in the same household with directors, officers and employees

of the Company.

Strict compliance with these policies and procedures is expected of all directors, officers and employees and

members of their households, and any infringement thereof may result in sanctions, up to and including, termination of office

or employment.

Trading Procedure

addition, to avoid the appearance of impropriety, no trading in the Company’s securities is permitted to take place without

compliance with the following rules.

person who intends to trade in the Company’s securities must first contact the Chief Financial Officer of Inter Parfums,

Inc., prior to any contemplated purchase or sale.

shall be no trading in the Company’s securities by Company personnel

ten (10) full business days before the earlier of

the issuance of a press release by the Company concerning its periodic financial information, which occurs approximately five

(5) to ten (10) business days before the filing with the SEC of the Company’s periodic reports, which are due no later than

March 1, May 10, August 9 and November 9 of each year, or

the actual filing of such periodic reports;

two (2) full business days AFTER the actual filing of such periodic reports.

shall also be no trading in the Company’s securities until not less than two (2) full business days after the release of

any other press release or filing with the SEC of a Current Report on Form 8-K by the Company.

no event shall there be any trading in the Company’s securities by Company personnel without the prior consent from the

the terms of our Anti-Hedging Policy, no officers, employees or members of our board of directors (and their respective family

members or any affiliated entities) may engage in hedging or monetization transactions involving our securities, including buying

any financial instrument or entering into any transaction that may offset any potential decrease in the market value of stock

options or similar security that is granted as compensation.

This policy also prohibits all actions to avoid any downward price

of such compensation award.

This same prohibition applies as well to any other person or company who is holding such equity security

for the benefit of our employees, officers, directors or family members.

This policy is not intended to prohibit the exercise

of our stock options granted under our stock option plans.

Grants Policy and Practice

grants to officers and employees have historically been granted on the last business day of the calendar year, as the board believes

that as a general rule, there should not be any material non-public information available at that time of year.

However, no options

were granted during in years 2021, 2022 and 2023 to any executive officers, other than Michel Atwood, who received an option grant

to purchase 5,000 shares on December 30, 2022 as part of his initial compensation package, and 4,000 shares on December 29, 2023,

the last day of both calendar years.

Options have historically been granted at the fair market value on the date of grant with

a 6-year term, and vested 20% each year after the first year on a cumulative basis.

Options granted to officers and employees

terminate upon the termination of association with the Company, for other than death or permanent disability.

Historically,

options were granted to independent directors on the first business day of February of each year in accordance with our stock

As the option grant date and number of shares underlying options were determined in our stock option plan, there

would be no room for manipulation.

As previously reported, in 2022 our board cancelled the automatic option grant on February

1, 2022 in view of determining an alternate form of compensation for the independent directors.

However, after discussions with

certain financial consultants relating to potential compensation plans in lieu of stock option grants to its independent directors,

it was determined that the most favorable way for the independent directors to be compensated was to amend our stock option plan

to reinstate the automatic grant of stock options.

Accordingly, our board authorized a new automatic grant to our independent

directors commencing on the last business day December 30, 2022 to coincide with the historic grant date to officers and employees

and continuing on the last business day of each year thereafter, which was approved by our shareholders at the 2023 annual meeting.

Policy for Erroneously Awarded Executive Compensation

Board of Directors has adopted a policy for the recovery of the award of erroneously awarded incentive compensation for our executive

officers (the “Recovery Policy”).

If the Company is required to prepare an accounting restatement due to the material

noncompliance with any financial reporting requirement under the securities laws, including any required accounting restatement

to correct an error in previously issued financial statements that is material to the previously issued financial statements,

or that would result in a material misstatement if the error were corrected in the current period or left uncorrected in the current

period, then, in accordance with the provisions of this Recovery Policy, the Company will recover reasonably promptly the amount

of all Erroneously Awarded Compensation from its executive officers, as defined below.

term “Erroneously Awarded Compensation” is defined in the Recovery Policy as the amount of incentive-based compensation

that exceeds the amount of incentive-based compensation that otherwise would have been received had it been determined based on

the restated amounts, and computed without regard to any tax liability.

For incentive-based compensation based on stock price

or total shareholder return, where the amount of erroneously awarded compensation is not subject to mathematical recalculation

directly from the information in an accounting restatement, the amount must be based on a reasonable estimate of the effect of

the accounting restatement on the stock price or total shareholder return upon which the incentive-based compensation was received.

Recovery Policy applies to all incentive-based compensation received by an executive officer during the three (3) completed fiscal

years immediately preceding the date that the Company is required to prepare an accounting restatement, for all incentive-based

compensation received by executive officers on or after October 2, 2023.

Executive Compensation.

Compensation Discussion and Analysis

The executive compensation

and stock option committee of our board of directors is comprised entirely of independent directors and oversees all elements of

compensation (base salary, annual bonus, long-term incentives and perquisites) of our company’s executive officers and administers

our company’s stock option plans, other than the non-employee directors stock option plan, which is self-executing.

The objectives of our

compensation program are designed to strike a balance between offering sufficient compensation to either retain existing or attract

new executives on the one hand, and maintaining compensation at reasonable levels on the other hand.

We do not have the resources

comparable to the cosmetic giants in our industry, and, accordingly, cannot afford to pay excessive executive compensation.

furtherance of these objectives, our executive compensation packages generally include a base salary, as well as annual incentives

tied to individual performance and long-term incentives tied to our operating performance.

During 2022 and

prior years, Mr.

Madar, the Chairman and Chief Executive Officer, took the initiative after discussions with Mr.

Russell Greenberg,

the former Executive Vice President, Chief Financial Officer and board member, and recommended executive compensation levels for

executives for United States operations.

Benacin, the Chief Executive Officer of Interparfums SA, took the initiative after

discussions with Philippe Santi, the Chief Financial Officer of Interparfums SA, and recommended executive compensation levels

for executives for European operations.

The recommendations are presented to the compensation committee for its consideration,

and the compensation committee makes a final determination regarding salary adjustments and annual award amounts to executives,

including Jean Madar and Philippe Benacin.

Madar and Benacin are not present during deliberations or determination of

their executive compensation by the compensation committee.

Discussion and Analysis

executive compensation and stock option committee of our board of directors is comprised entirely of independent directors and

oversees all elements of compensation (base salary, annual bonus, long-term incentives and perquisites) of our company’s

executive officers and administers our company’s stock option plans, other than the non-employee directors stock option

plan, which is self-executing.

objectives of our compensation program are designed to strike a balance between offering sufficient compensation to either retain

existing or attract new executives on the one hand, and maintaining compensation at reasonable levels on the other hand.

not have resources comparable to the cosmetic giants in our industry, and, accordingly, cannot afford to pay excessive executive

compensation.

In furtherance of these objectives, our executive compensation packages generally include a base salary, as well

as annual incentives tied to individual performance and long-term incentives tied to our operating performance.

Chairman and Chief Executive Officer, took the initiative after discussions with Mr.

Atwood, the Chief Financial Officer and board

member, and recommended executive compensation levels for executives for United States operations.

Benacin, the Chief Executive

Officer of Interparfums SA, took the initiative after discussions with Philippe Santi, the Executive Vice President of Interparfums

SA, and recommended executive compensation levels for executives for European based operations.

The recommendations are presented

to the Compensation Committee for its consideration, and the Compensation Committee makes a final determination regarding salary

adjustments and annual award amounts to executives, including Jean Madar and Philippe Benacin.

Madar and Benacin are not

present during deliberations or determination of their executive compensation by the Compensation Committee.

Further, Messrs.

Madar and Benacin, in addition to being executive

officers and directors, are our largest beneficial shareholders, and therefore, their interests are aligned with our shareholder

base in keeping executive compensation at a reasonable level.

The compensation committee

was pleased that the most recent shareholder advisory vote on executive compensation held at our last annual meeting of shareholders

in September 2022 overwhelmingly approved the compensation policies and decisions of the compensation committee.

Madar and Benacin, in addition to being executive officers and directors, are our largest beneficial shareholders, and therefore,

their interests are aligned with our shareholder base in keeping executive compensation at a reasonable level.

The Compensation

committee has determined to continue its present compensation policies in order to determine similar future decisions.

Committee was pleased that the most recent shareholder advisory vote on executive compensation held at our last annual meeting

of shareholders in September 2023 overwhelmingly approved the compensation policies and decisions of the Compensation Committee.

The Compensation Committee has determined to continue its present compensation policies in order to determine similar future decisions.

Our Compensation

2 unchanged sentences

well as our own strategic goals.

Further, the compensation committee believes that its present policies to date, with its emphasis

on rewarding performance, has served to focus the efforts of our executives, which in turn has permitted our company to weather

the COVID-19 pandemic, supply chain disruptions and geopolitical turmoil in certain parts of the world, which resulted in the

Company’s record results for 2022.

During 2022, the members of such committee consisted of Messrs.

Heilbronn and Choël,

During 2023, the members of such committee initially consisted of Messrs.

Francois Heilbronn

and Patrick Choël, and Ms.

Gabai-Pinsky.

Elements of Compensation

The compensation of

our executive officers is generally comprised of base salaries, including a fee paid to the holding companies of each of Messrs.

Choël retired in September 2023, and was replaced by Mr.

Robert Bensoussan.

of Compensation

The compensation

of our executive officers is generally comprised of base salaries, including a fee paid to the holding companies of each of Messrs.

Madar and Benacin, annual cash bonuses and long-term equity incentive awards.

10 unchanged sentences

Madar and Benacin being founders of the Company.

Madar and Greenberg, the former Chief

Financial Officer and Executive Vice President for United States operations, and Benacin and Santi for European operations, were

most familiar with the individual performance, level of responsibility, skills and experience of each executive officer in their

respective operating segments, the compensation committee relies upon the information provided by such executive officers in determining

individual performance, level of responsibility, skills and experience of each executive officer.

The compensation committee

views the competitive marketplace very broadly, which would include executive officers from both public and privately held companies

in general, including fashion and beauty companies, but not limited to the peer companies contained in the corporate performance

graph contained in our annual report.

Generally, rather than tie the compensation committee’s determination of compensation

proposals to any specific peer companies, the members of our committee have used their business experience, judgment and knowledge

to review the executive compensation proposals recommended to them by Mr.

Madar for United States operations and Mr.

European operations.

As such, as a general rule the compensation committee did not determine the need to benchmark of any material

item of compensation or overall compensation.

However, in connection with the salary increase to Mr.

Madar that occurred in February

2020, surveys of both peer companies and companies with comparable market capitalizations were used by the compensation committee

as one of the factors in reaching such determination.

The members of the

compensation committee have extensive experience and business acumen and are well qualified in determining the appropriateness

Madar and Atwood, the Chief Financial

Officer, and Benacin and Santi for European based operations, were most familiar with the individual performance, level of responsibility,

skills and experience of each executive officer in their respective operating based operations, the Compensation Committee relies

upon the information provided by such executive officers in determining individual performance, level of responsibility, skills

and experience of each executive officer.

The Compensation

Committee views the competitive marketplace very broadly, which would include executive officers from both public and privately

held companies in general, including fashion and beauty companies, but not limited to the peer companies contained in the corporate

performance graph contained in our annual report.

Generally, rather than tie the Compensation Committee’s determination

of compensation proposals to any specific peer companies, the members of our committee have used their business experience, judgment

and knowledge to review the executive compensation proposals recommended to them by Mr.

Madar for United States operations and

Benacin for European based operations.

As such, as a general rule the Compensation Committee did not determine the need to

benchmark any material item of compensation or overall compensation.

The members of

the Compensation Committee have extensive experience and business acumen and are well qualified in determining the appropriateness

of executive compensation levels.

1 unchanged sentence

acquisitions of large international companies in retail, consumer goods and consumer services throughout the world.

previously worked as President and Chief Executive Officer of two divisions of LVMH Moet Hennessy Louis Vuitton S.A., which included

such well-known brands as Parfums Christian Dior, Guerlain, and Parfums Givenchy.

Choël has also been President and CEO

of both Elida Fabergé France and Chesebrough Ponds USA.

Gabai-Pinsky, the final committee member, has executive experience

as the former President of Vera Wang Group, as well as the Global President for Aramis and Designers Fragrances in addition to

Beauty Bank and Idea Bank at The Estée Lauder Companies.

Base salaries for executive

officers are initially determined by evaluating the responsibilities of the position held and the experience of the individual,

and by reference to the competitive marketplace for executive talent.

Base salaries for executive officers are reviewed on an annual

basis, and adjustments are determined by evaluating our operating performance, the performance of each executive officer, as well

as whether the nature of the responsibilities of the executive has changed.

As stated above,

Madar and Greenberg for United States operations, and Messrs.

Benacin and Santi for European operations, were most

familiar with the individual performance, level of responsibility, skills and experience of each executive officer in their respective

segments, the committee relied upon the information provided by such executive officers in determining individual performance,

level of responsibility, skills and experience of each executive officer.

For executive officers

of United States operations, the bulk of their annual compensation is in base salary including a fee paid to the holding company

Gabai-Pinsky,

has executive experience as the former President of Vera Wang Group, as well as the Global President for Aramis and Designers

Fragrances in addition to Beauty Bank and Idea Bank at The Estée Lauder Companies.

Bensoussan, the final committee

member who replaced Mr.

Patrick Choel, who retired in September 2023, was previously a member of the boards of lululemon athletica

Inc., Feelunique.com, one of Europe’s largest online beauty retailers, and Jimmy Choo Ltd, from 2001 to 2011.

salaries for executive officers are initially determined by evaluating the responsibilities of the position held and the experience

of the individual, and by reference to the competitive marketplace for executive talent.

Base salaries for executive officers

are reviewed on an annual basis, and adjustments are determined by evaluating our operating performance, the performance of each

executive officer, as well as whether the nature of the responsibilities of the executive has changed.

stated above, as Messrs.

Madar and Atwood for United States based operations, and Messrs.

Benacin and Santi for European based

operations, were most familiar with the individual performance, level of responsibility, skills and experience of each executive

officer in their respective based operations, the committee relied upon the information provided by such executive officers in

determining individual performance, level of responsibility, skills and experience of each executive officer.

executive officers of United States based operations, the bulk of their annual compensation is in base salary including a fee

paid to the holding company for Mr.

Madar for services rendered outside the United States.

However, for executive officers of European operations base salary

comprises a smaller percentage of overall compensation.

We have paid a lower percentage of overall compensation in the form of

base salary to executive officers of European operations for several years, principally because European operations historically

have had higher profitability than United States operations, and European operations are run differently from United States operations

by the Chief Executive Officer of European operations, Mr.

As the result of this historically higher profitability, European

operations have had the ability to pay higher bonus compensation in addition to base salary.

As bonus compensation is and has historically

been discretionary, no targets were set in order to maintain flexibility.

Further, if results of operations for European operations

were not satisfactory (again, no target amounts were set to maintain flexibility), then bonus compensation, as well as overall

compensation could be lowered without otherwise affecting base salary.

Finally, by keeping annual bonus compensation at a higher

percentage of overall compensation and base salary at a lower percentage, our company benefits because the base amount for annual

salary adjustments would be smaller.

For the impact

of COVID-19 on executive compensation in 2020 and 2021, please see our Annual Report on Form 10-K for the fiscal year ended December

31, 2021, under Item 11, Item 11.

Executive Compensation, Compensation Discussion and Analysis , Covid-19 Impact ,

which is incorporated by reference herein.

For 2022, Mr.

received a base salary of $756,000, (included an increase of €12,000 but due to the foreign currency conversion this is showing

as a decrease when compared to 2021), and Mr.

Benacin’s holding company received $250,000 paid by the Company’s United

States operations, which is included the calculation of his base salary.

This same consulting fee has been paid for more than

each of the past three years, in accordance with the consulting agreement with Mr.

Benacin’s holding company, which provides

for review on an annual basis of the amount of compensation payable to such company.

For 2021, although

Benacin received the same base salary as he did in 2020, his salary was affected by foreign currency conversion rates and was

$804,000 for 2021.

For 2020, Mr.

Benacin received a modest increase in base salary of $14,000 to $789,000.

The compensation committee

considered the following salient factors in authorizing payment to Mr.

Benacin’s holding company— services rendered

to United States operations for several years by Mr.

Benacin in connection with licensing and distribution of international brands,

as well as future services to be performed by Mr.

However, for executive officers of

European based operations base salary comprises a smaller percentage of overall compensation.

We have paid a lower percentage

of overall compensation in the form of base salary to executive officers of European based operations for several years, principally

because European based operations historically have had higher profitability than United States operations, and European based

operations are run differently from United States operations by the Chief Executive Officer of European based operations, Mr.

As the result of this historically higher profitability, European based operations have had the ability to pay higher

bonus compensation in addition to base salary.

As bonus compensation is and has historically been discretionary, no targets were

set in order to maintain flexibility.

Further, if results of operations for European based operations were not satisfactory (again,

no target amounts were set to maintain flexibility), then bonus compensation, as well as overall compensation could be lowered

without otherwise affecting base salary.

Finally, by keeping annual bonus compensation at a higher percentage of overall compensation

and base salary at a lower percentage, our company benefits because the base amount for annual salary adjustments would be smaller.

Benacin received a base salary of $795,000, as compared to 2022, when he received a base salary of $756,000.

Benacin’s holding company received $250,000 paid by the Company’s United States based operations, which is included

in the calculation of his base salary for each of those years.

This same consulting fee has been paid for more than each of the

past three years, in accordance with the consulting agreement with Mr.

Benacin’s holding company, which provides for review

on an annual basis of the amount of compensation payable to such company.

The Compensation

Committee considered the following salient factors in authorizing payment to Mr.

Benacin’s holding company;

services rendered

to United States based operations for several years by Mr.

Benacin in connection with licensing and distribution of international

brands, as well as future services to be performed by Mr.

Benacin internationally relating to licensing and distribution of international

brands for United States operations.

Benacin values

the services of two named executive officers of Interparfums SA, Mr.

Philippe Santi, Executive Vice President and the Chief Financial

Officer, and Mr.

Frederic Garcia-Pelayo, Executive Vice President and Chief Operating Officer, equally, their base salaries, as

well as their bonus compensation discussed below, have been in lockstep.

brands for United States based operations.

Benacin values the services of two named executive officers of Interparfums SA, Mr.

Philippe Santi, Executive Vice President,

Frederic Garcia-Pelayo, Executive Vice President and Chief Operating Officer, equally, their base salaries, as well as

their bonus compensation discussed below, have been in lockstep.

For 2023, the base

salary of each of Messrs.

Santi and Garcia-Pelayo was €432,000, and increase of €24,000.

For 2021, the base salary of

each of Messrs.

Santi and Garcia-Pelayo was €408,000, as no executive officer received any increase in base salary due the

continuing impact of the COVID-19 pandemic.

However, the base salaries of Messrs.

Santi and Garcia-Pelayo in 2021 were affected

by foreign currency conversion rates and were both $483,000 for 2021.

For 2020, each of Messrs.

Santi and Garcia-Pelayo received

an increase in base salary of $14,000 to $470,000.

Increases in prior years were awarded primarily to reward these two executive

officers for their contributions in European Operations achieving increases in both the sales and earnings.

The compensation committee

considered the recommendations of Mr.

Benacin, results of operations for the year, as well as the services performed for European

operations by Messrs.

Santi and Garcia-Pelayo was €458,000, a nominal increase of €26,000.

In 2022, the base salary

of each of Messrs.

Santi and Garcia-Pelayo was €432,000, an increase of €24,000 from 2021.

Such increases were nominal,

as compared to bonus compensation, as discussed later in the section.

The Compensation Committee considered the recommendations

Benacin, results of operations for the year, as well as the services performed for European based operations by Messrs.

Santi and Garcia-Pelayo in authorizing these salary levels.

A different approach

is taken for United States operations as that segment is smaller and less profitable.

A more significant base salary is paid in

order to attract and retain employees with the skills and talents needed to run the operation with a lesser emphasis placed on

Neither of the executive officers for United States operations have employment agreements (although Mr.

personal holding company has a consulting agreement that provides for review on an annual basis of the amount of compensation payable

to such company), as we believe that having flexibility in structuring annual base salary is a benefit, which permits us to act

quickly to meet a changing economic environment.

As previously reported,

from 2013 until 2019 the annual aggregate base salary paid to Mr.

Madar individually and fees paid to his holding company remained

unchanged at $630,000, which was substantially below the amounts indicated by two surveys of chief executive officer salaries

for 2019 (collectively the “CEO Salary Surveys”).

The CEO Salary Surveys indicated that the annual and median average

CEO salaries for peer companies (excluding the Madar salary) were $2,854,656 and $1,540,000, respectively, and $2,604,346 and

$1,750,000 for comparable market capitalization companies, respectively.

A different approach is taken for United States based operations as that based operations is smaller

and less profitable.

A more significant base salary is paid in order to attract and retain employees with the skills and talents

needed to run the operation with a lesser emphasis placed on bonuses.

Neither of the executive officers for United States based

operations have employment agreements (although Mr.

Madar’s personal holding company has a consulting agreement that provides

for review on an annual basis of the amount of compensation payable to such company), as we believe that having flexibility in

structuring annual base salary is a benefit, which permits us to act quickly to meet a changing economic environment.

previously reported, from 2013 until 2019 the annual aggregate base salary paid to Mr.

Madar individually and fees paid to his

holding company remained unchanged at $630,000, which was substantially below the amounts indicated by two surveys of chief executive

officer salaries for 2019 (collectively the “CEO Salary Surveys”).

The CEO Salary Surveys indicated that the annual

and median average CEO salaries for peer companies (excluding the Madar salary) were $2,854,656 and $1,540,000, respectively,

and $2,604,346 and $1,750,000 for comparable market capitalization companies, respectively.

In recognition of the efforts of Mr.

Madar and his holding

company as one of the prime causes for our substantial increase in net sales and net income, as well as market capitalization

from 2014 through 2019, thus substantially increasing shareholder value, on February 4, 2020 the Committee jointly authorized

the aggregate annual increase in Mr.

Madar’s base salary by $600,000 to $1.23 million effective as of January 1, 2020.

2022 and 2021, Mr.

Madar did not receive any increase in base salary.

Russell Greenberg,

the former Executive Vice President and Chief Financial Officer, received a $30,000 increase in base salary for 2022 to $750,000

on an annualized basis, also did not have any salary increase for 2021, when his base salary remained at $720,000.

he had received the same $30,000 increase in base salary for 2020 and 2019.

In connection with the previous increases in salary,

the Compensation Committee considered the following material factors in granting Mr.

Greenberg his salary increases:

his individual

performance, level of responsibility, skill and experience, as well as the recommendation of the Chief Executive Officer.

became the Chief Financial Officer in September 2022 after the retirement of Mr.

Greenberg, was granted a $500,000 annual base

salary, as well as a signing bonus of $100,000 that was paid in September 2022.

An additional bonus of $50,000 was also paid in

December 2022 for the September-December period.

The Compensation Committee considered the following material factors in approving

the base salary and guaranteed annual bonus of Mr.

Atwood for 2022:

his individual performances, level of responsibilities, skill

and experience with other companies in the fragrance and cosmetic industry, as well as the recommendation of the Chief Executive

Bonus Compensation/Annual

Madar and his holding company as one of the prime causes for our substantial increase in net sales and net income, as well as

market capitalization from 2014 through 2019, thus substantially increasing shareholder value, on February 4, 2020 the Compensation

Committee jointly authorized the aggregate annual increase in the fees paid to Mr.

Madar’s holding company, which are attributed

Madar as base salary, by $600,000 to $1.23 million effective as of January 1, 2020.

Madar’s Holding

Company received an increase in its management fees to $2 million, after not receiving an increase in 2022 and 2021.

Atwood, who became the Chief Financial Officer in September 2022 after the retirement of the former Chief Financial Officer, was

granted a $500,000 annual base salary, as well as a signing bonus of $100,000 that was paid in September 2022.

An additional bonus

of $50,000 was also paid in December 2022 for the September-December period.

For 2023, Mr.

Atwood received an increase in base

salary to $525,000.

The Compensation Committee considered the following material factors in approving the base salary of Mr.

his individual performances, level of responsibilities, and skill, as well as the recommendation of the Chief Executive

Compensation/Annual Incentives

In recognition

of the Company’s turnaround from the effects of the COVID-19 pandemic, supply chain disruptions and geopolitical turmoil

in 2022 and record results in 2022, and after the recommendations of Messrs.

Madar and Benacin, the compensation committee determined

Benacin receive a bonus of $211,000.

Also, in recognition of record results in 2021 while dealing with the effects of

the COVID-19 pandemic, supply chain disruptions and geopolitical turmoil, and after the recommendations of Messrs.

Madar and Benacin,

the compensation committee determined that Mr.

of the 2023 record setting performance in both sales and earnings of Interparfums SA, our French operating subsidiary, Mr.

received a bonus of $216,000, and in recognition of the Company’s turnaround from the effects of the COVID-19 Pandemic,

supply chain disruptions and geopolitical turmoil in 2022 and record results in 2022, and after the recommendations of Messrs.

Madar and Benacin, the Compensation Committee determined that Mr.

Benacin receive a bonus of $211,000.

Benacin, the chief decision maker

for European operations, proposed and the compensation committee concurred in the payment of discretionary bonus compensation

Also, in recognition of

record results in 2021 while dealing with the effects of the COVID-19 Pandemic, supply chain disruptions and geopolitical turmoil,

and after the recommendations of Messrs.

Madar and Benacin, the Compensation Committee determined that Mr.

Benacin receive a bonus

Discretionary bonus compensation for Mr.

1 unchanged sentence

2022, and 2021, respectively.

In addition, the Compensation

Committee agreed with the recommendation of Mr.

addition, the Compensation Committee agreed with the recommendation of Mr.

Benacin and the contributions made by Messrs.

Santi and Garcia-Pelayo to the Company’s

success and growth.

and Garcia-Pelayo to the Company’s success and growth.

Bonus compensation for Messrs.

Santi and Garcia-Pelayo have remained in lockstep, and each was awarded a discretionary

bonus of $437,000, $378,000 and $296,000 in 2022, 2021 and 2020, respectively, or 96%, 78% and 63%of their base salary for those

A different approach

is taken for United States operations as that segment is smaller and less profitable.

As discussed above, a more significant base

salary is paid in order to attract and retain employees with the skills and talents needed to run United States operations with

a lesser emphasis placed on bonuses.

In 2022, as Mr.

Greenberg retired, he did not receive a discretionary bonus.

In 2021, although Mr.

Greenberg did not receive any increase in base

salary due to the continuing impact of the COVID-19 pandemic, he did receive a discretionary bonus of $70,000 based upon the recommendation

of the Chief Executive Officer.

Greenberg was paid a discretionary bonus of $35,000 in 2020 and $50,000 for each of the several

years prior thereto.

The Compensation Committee considered the following material factors in granting Mr.

Greenberg his bonuses:

his individual performance, level of responsibility, skill and experience, as well as the recommendation of the Chief Executive

became the Chief Financial Officer in September 2022 after the retirement of Mr.

Greenberg, received a sign on bonus of $100,000.

His compensation arrangement also entitles him to a guaranteed annual bonus of $100,000, as well as a $100,000 bonus based upon

achieving certain milestones.

Santi and Garcia-Pelayo have remained

in lockstep, and each was awarded a discretionary bonus of $458,000, $437,000, and $378,000 in 2023, 2022, 2021, respectively,

or 92%, 96%, and 78% of their base salary for those years.

different approach is taken for United States based operations as that based operations is smaller and less profitable.

above, a more significant base salary is paid in order to attract and retain employees with the skills and talents needed to run

United States based operations with a lesser emphasis placed on bonuses.

2022, the former Chief Financial Officer retired and did not receive a discretionary bonus.

Atwood, who became the Chief Financial

Officer in September 2022 after the retirement of the former Chief Financial Officer, received a sign on bonus of $100,000.

compensation arrangement also entitles him to a guaranteed annual bonus of $100,000, as well as a $100,000 bonus based upon achieving

certain milestones.

For 2022, Mr.

Atwood received his $100,000 sign on bonus and $50,000 pro-rated performance bonus

related to the September-December period.

The Compensation Committee considered the same factor in granting these two bonuses

as in approving his initial annualized salary.

Madar, the Chief

Executive Officer has not received any cash bonus in the past three years.

As required by French

law, Interparfums SA maintains its own profit sharing plan for all French employees who have completed three months of service,

including executive officers of our European operations other than Mr.

Benacin, the Chief Executive Officer of Interparfums SA.

Benefits are calculated based upon a percentage of taxable income of Interparfums SA and allocated to employees based upon salary.

Atwood received his $100,000 sign on bonus and $50,000 pro-rated performance bonus related to

the September-December period.

For 2023, Mr.

Atwood received a discretionary bonus of $125,000.

The Compensation Committee considered

the same factors in granting these two bonuses as in approving his annual base salary.

Madar Holding SAS, the management company beneficially owned by Mr.

Madar, the Chief Executive Officer, has not received any cash

bonus in the past three years.

required by French law, Interparfums SA maintains its own profit sharing plan for all French employees who have completed three

months of service, including executive officers of our European based operations other than Mr.

Benacin, the Chief Executive Officer

of Interparfums SA.

Benefits are calculated based upon a percentage of taxable income of Interparfums SA and allocated to employees

based upon salary.

The maximum amount payable per year per employee is approximately $37,603.

Calculation of the

total annual benefits contribution is made according to the following formula:

67% of (Interparfums SA net income,

less 2.5% of shareholders’ equity without net income for the year) times a fraction, the numerator of which is wages, and

the denominator of which is net income before tax + wages + taxes (other than income tax) + valuation allowances + amortization

expenses + interest expenses.

Contribution to individual

employees is then made pro rata based upon their individual salaries for the year.

Long-Term Incentives

of the total annual benefits contribution is made according to the following formula:

of (Interparfums SA net income, less 2.5% of shareholders’ equity without net income for the year) times a fraction, the

numerator of which is wages, and the denominator of which is net income before tax + wages + taxes (other than income tax) + valuation

allowances + amortization expenses + interest expenses.

to individual employees is then made pro rata based upon their individual salaries for the year.

Stock Options .

In prior years, we had linked long-term incentives with corporate performance through the grant of stock options.

options were granted in 2021 or 2020 to either employees of United States operations or European operations, as other compensation

However, no options

were granted in 2021 or 2020 to either employees of United States based operations or European based operations, as other compensation

arrangements were being considered as part of a review of the executive compensation strategy.

In December 2023, at the recommendation

of the Chief Executive Officer, the Compensation Committee authorized the grant of a stock option to purchase 5,000 shares to

Atwood at the fair market value on the date of grant as part of his long-term incentives.

Unless the market price of our common

stock increases, Mr.

Atwood will have no tangible benefit from this option.

Thus, the option holder is provided with the additional

incentive to increase individual performance with the ultimate goal of increasing our overall performance.

We believe that enhanced

executive incentives that result in increased corporate performance tend to build company loyalty.

No other stock option grants

were made to other executive officers in 2022, including Messrs.

of the Chief Executive Officer, the Compensation Committee authorized the grant of a stock option to purchase 4,000 shares to Mr.

Atwood who had received a stock option to purchase 5,000 shares in December 2022, both at the fair market value on the dates of

grant, as part of his long-term incentives.

Unless the market price of our common stock increases, Mr.

Atwood will have no tangible

benefit from this option.

Thus, the option holder is provided with the additional incentive to increase individual performance

with the ultimate goal of increasing our overall performance.

We believe that enhanced executive incentives that result in increased

corporate performance tend to build company loyalty.

No other stock option grants were made to other executive officers in 2023

or 2022, including Messrs.

Jean Madar and Philippe Benacin.

Interparfums SA

Stock Compensation Plans

2022 Free Share

Plan – On March 16, 2022, the Board of Interparfums SA (“IPSA”) decided to grant 88,400 free shares of its

capital stock to all of the IPSA’s employees and corporate officers having more than 6 months seniority at the grant date.

SA Stock Compensation Plans

- No shares were granted to any employees or corporate officers during 2023.

Free Share Plan – On March 16, 2022, the Board of Interparfums SA (“IPSA”) decided to grant 88,400 free

shares of its capital stock to all of the IPSA’s employees and corporate officers having more than 6 months seniority at

the grant date.

The free shares are to be issued in June 2025.

Issuance of those shares are based on satisfaction of performance conditions, relating

to the 2024 IPSA sales for 50% of the shares and 2024 operating income for the balance.

IPSA used the services

of third party to assist them in the valuation of the plan, with the calculations and assumptions as follows:

- Management expects the rate of staff turnover to be 12%,

- Using the Monte Carlo method, management expects the performance rate to be 80% on the consolidated

Issuance of those shares is based on satisfaction of performance

conditions, relating to the 2024 IPSA sales for 50% of the shares and 2024 operating income for the balance.

used the services of third party to assist them in the valuation of the plan, with the calculations and assumptions as follows:

expects the rate of staff turnover to be 12%,

the Monte Carlo method, management expects the performance rate to be 80% on the consolidated

sales and 80.8% on the consolidated operating income.

Based on the above

assumptions, the total expenses related to this plan is valued at $3.3 million.

As of December 31,

- 63,281 shares of IPSA Capital

Stock, representing $3.0 million were purchased in the open market and allocated to this

$1.0 million of

expense was recorded (or $1.2 million including social contributions).

– In December 2018, Interparfums SA approved a plan to grant an aggregate of 26,600 shares of its stock to employees with

no performance condition requirement, and an aggregate of 133,000 shares to officers and managers, subject to certain corporate

of December 31, 2022 management has updated its expectation related to the performance

rate to be 100% for both consolidated sales and consolidated operating income based

on the above assumptions, the total expenses related to this plan are valued at $4.1 million.

of December 31, 2023:

shares of IPSA Capital Stock, representing $4.1 million were purchased in the open market

and allocated to this plan.

million of expense was recorded (or $1.6 million including social contributions).

Plan – In December 2018, Interparfums SA approved a plan to grant an aggregate of 26,600 shares of its stock to employees

with no performance condition requirement, and an aggregate of 133,000 shares to officers and managers, subject to certain corporate

performance conditions.

3 unchanged sentences

Benacin, Madar, Garcia Pelayo and Santi received 4,000 shares each (5,857 shares as adjusted for stock splits).

In June 2020, the performance

conditions were modified effecting 96 employees.

As of December 31, 2021, the number of shares to be distributed, after forfeited

shares and adjusted for stock splits, increased to 172,343.

The increase in shares anticipated to be distributed were transferred

from treasury shares at the Interparfums SA level.

The modification resulted in a revised cost of the grant to approximately $4.6

In connection with

the 2019 Plan referred to above, an incentive plan was established by Interparfums SA for certain employees of Interparfums Luxury

(“IPLB”), Interparfums Singapore (“IP Singapore”) and Inter Parfums, Inc.

The proposed incentive

plan would not provide shares but rather, would give a cash payment or bonus (“incentive” or “award”) that

mirrors the shares that Interparfums SA employees will receive.

An aggregate of 42,140 “phantom” shares have been awarded

in 2022, with Mr.

Greenberg being awarded 1,000 of such “phantom” shares, all subject to adjustment for stock splits,

with a value of approximately $69,839.

Stock Appreciation

June 2020, the performance conditions were modified effecting 96 employees.

As of December 31, 2021, the number of shares to be

distributed, after forfeited shares and adjusted for stock splits, increased to 172,343.

The increase in shares anticipated to

be distributed were transferred from treasury shares at the Interparfums SA level.

The modification resulted in a revised cost

of the grant to approximately $4.6 million.

connection with the 2019 Plan referred to above, an incentive plan was established by Interparfums SA for certain employees of

Interparfums Luxury Brands, Inc.

(“IPLB”), Interparfums Singapore (“IP Singapore”) and Inter Parfums,

The proposed incentive plan would not provide shares but rather, would give a cash payment or bonus (“incentive”

or “award”) that mirrors the shares that Interparfums SA employees will receive.

An aggregate of 42,140 “phantom”

shares have been awarded in 2022, with Mr.

Greenberg, the former Chief Financial Officer being awarded 1,000 of such “phantom”

shares, all subject to adjustment for stock splits, with a value of approximately $69,839.

Appreciation Rights

Our stock option plans

4 unchanged sentences

While the Compensation

committee currently does not plan to grant any SARs under our plans, it may choose to do so in the future as part of a review of

the executive compensation strategy.

Restricted Stock

Committee currently does not plan to grant any SARs under our plans, it may choose to do so in the future as part of a review

of the executive compensation strategy.

We have not in

5 unchanged sentences

has instituted its 2022 and 2019 Stock Compensation Plans as discussed above.

Other Compensation

For 2022, each of Messrs.

2023, each of Messrs.

Benacin and Garcia-Pelayo received an automobile allowance of $11,678.

No Stock Ownership

We do not require any

minimum level of stock ownership by any of our executive officers.

Stock Ownership Guidelines

do not require any minimum level of stock ownership by any of our executive officers.

As stated above, Messrs.

Madar and Benacin, are our largest

beneficial shareholders, which aligns their interests with our shareholder base in keeping executive compensation at a reasonable

Retirement and Pension

We maintain a 401(k)

plan for United States operations.

Commencing in October 2021 we started matching the first $6,000 of contribution for each employee,

as we have determined that base compensation together with annual bonuses, are sufficient incentives to retain talented employees.

Our European operations maintain a pension plan for its employees as required by French law.

For each of 2022, 2021and 2020, each

Benacin, Santi and Garcia-Pelayo received an increase of $16,006, $17,773 and $17,500, respectively, in their value

of deferred compensation earnings.

Compensation Committee Report

We have reviewed and

discussed with management the Compensation Discussion and Analysis provisions to be included in this Annual Report on Form 10-K

for fiscal year ended December 31, 2022 and the proxy statement for the upcoming annual meeting of shareholders.

Based on this

review and discussion, we recommend to the board of directors that the Compensation Discussion and Analysis referred to above be

included in this Annual Report on Form 10-K as well as the proxy statement for the upcoming annual meeting of shareholders.

Francois Heilbronn

Patrick Choël and

Veronique Gabai-Pinsky

The following table

sets forth a summary of all compensation awarded to, earned by or paid to our “named executive officers,” who are our

principal executive officer, our principal financial officer, and each of the three most highly compensated executive officers

of our company.

This table covers all such compensation during fiscal years ended December 31, 2022, December 31, 2021 and December

For all compensation related matters disclosed in the summary compensation table, and elsewhere where applicable, all

amounts paid in euro have been converted to U.S.

Madar and Benacin,

are our largest beneficial shareholders, which aligns their interests with our shareholder base in keeping executive compensation

at a reasonable level.

and Pension Plans

maintain a 401(k) plan for United States based operations.

Commencing in October 2021 we started matching the first 50% of the

first 6% of contributions made by each employee on an annual basis, as we have determined that base compensation together with

annual bonuses, are sufficient incentives to retain talented employees.

Our European based operations maintain a pension plan

for its employees as required by French law.

For each of 2023, 2022, and 2021, each of Messrs.

Benacin, Santi and Garcia-Pelayo

received an increase of $17,600, $16,006 and $17,773, respectively, in their value of deferred compensation earnings.

Committee Report

have reviewed and discussed with management the Compensation Discussion and Analysis provisions to be included in this Annual

Report on Form 10-K for fiscal year ended December 31, 2023 and the proxy statement for the upcoming annual meeting of shareholders.

Based on this review and discussion, we recommend to the board of directors that the Compensation Discussion and Analysis referred

to above be included in this Annual Report on Form 10-K as well as the proxy statement for the upcoming annual meeting of shareholders.

Gabai-Pinsky and

following table sets forth a summary of all compensation awarded to, earned by or paid to our “named executive officers,”

who are our principal executive officer, our principal financial officer, and each of the three most highly compensated executive

officers of our company.

This table covers all such compensation during fiscal years ended December 31, 2023, December 31, 2022

and December 31, 2021.

For all compensation related matters disclosed in the summary compensation table, and elsewhere where applicable,

all amounts paid in euro have been converted to U.S.

dollars at the average rate of exchange in each year.

3 unchanged sentences

Pension Value

Jean Madar, (4)

Chief Executive

Russell Greenberg,

Chief Financial

Executive Vice President

Michel Atwood (5)

Chief Financial

Russell Greenberg,

Former Chief Financial

Executive Vice

Philippe Benacin,

President Inter

Parfums, Inc., Chief

Parfums, Inc.,

Chief Executive

Officer of Interparfums

1 unchanged sentence

Executive Vice

President and Chief

Officer, Interparfums

President, Interparfums

Garcia-Pelayo,

Executive Vice President

Executive Vice

President and

Chief Operating

Officer Interparfums SA

Amounts reflected under Option Awards represent the grant date fair values in 2022, 2021 and 2020 based on the fair value of stock option awards using a Black-Scholes option pricing model.

The assumptions used in this model are detailed in Footnote 13 to the audited consolidated financial statements in our Annual Report on Form 10-K for the year ended December 31, 2022 and filed with the SEC.

As required by French law, Interparfums SA maintains its own profit sharing plan for all French employees who have completed three months of service, including executive officers of our European operations other than Mr.

Benacin, the Chief Executive Officer of Interparfums SA.

Benefits are calculated based upon a percentage of taxable income of Interparfums SA and are allocated to employees based upon salary.

Amounts reflected

under Option Awards represent the grant date fair values in 2023, 2022 and 2021 based on the fair value of stock option awards

using a Black-Scholes option pricing model.

The assumptions used in this model are detailed in Footnote 13 to the audited

consolidated financial statements in our Annual Report on Form 10-K for the year ended December 31, 2023 and filed with the

As required by French

law, Interparfums SA maintains its own profit sharing plan for all French employees who have completed three months of service,

including executive officers of our European based operations other than Mr.

Benacin, the Chief Executive Officer of Interparfums

Benefits are calculated based upon a percentage of taxable income of Interparfums SA and are allocated to employees based

The maximum amount payable per year is approximately $37,603.

Calculation of total

annual benefits contribution is made according to the following formula:

67% of (Interparfums SA net income,

less 2.5% of shareholders’ equity without net income for the year) times a fraction, the numerator of which is wages, and

the denominator of which is net income before tax + wages + taxes (other than income tax) + valuation allowances + amortization

expenses + interest expenses.

Contribution to individual

employees is then made pro rata based upon their individual salaries for the year.

The following table identifies (i) perquisites

and other personal benefits provided to our named executive officers in fiscal 2022, and quantifies those required by SEC

rules to be quantified and (ii) all other compensation that is required by SEC rules to be separately identified and quantified.

Greenberg retired in September

Atwood replaced Mr.

on September 6, 2022.

His base salary was prorated from $500,000, annually.

Name and Principal Position

of total annual benefits contribution is made according to the following formula:

of (Interparfums SA net income, less 2.5% of shareholders’ equity without net income for the year) times a fraction, the

numerator of which is wages, and the denominator of which is net income before tax + wages + taxes (other than income tax) + valuation

allowances + amortization expenses + interest expenses.

to individual employees is then made pro rata based upon their individual salaries for the year.

The following table

identifies (i) perquisites and other personal benefits provided to our named executive officers in fiscal 2023, and quantifies

those required by SEC rules to be quantified and (ii) all other compensation that is required by SEC rules to be separately

identified and quantified.

Represents fees

paid to Jean Madar Holding SAS in accordance with a Supervising and Coordinating Service Agreement, as amended.

Atwood replaced

Greenberg on September 6, 2022, who retired in September 2022.

Atwood’s base salary in 2022 was prorated

from $500,000, annually.

and Principal Position

Jean Madar, Chairman

Chief Executive Officer

Russell Greenberg, Chief Financial

Officer and Executive Vice

Michel Atwood, Chief Financial Officer

Philippe Benacin, President of Inter

9 unchanged sentences

Interparfums SA

Plan Based Awards

The following table

sets certain information relating to each grant of an award made by our company to the executive officers of our company listed

in the Summary Compensation Table during the past fiscal year.

Grants of Plan-Based Awards

Estimated Future Payouts Under

following table sets certain information relating to each grant of an award made by our company to the executive officers of our

company listed in the Summary Compensation Table during the past fiscal year.

of Plan-based Awards

Future Payouts Under

Non-Equity Incentive Plan Awards

Estimated Future Payouts Under

Future Payouts Under

Equity Incentive Plan Awards

All Other Stock Awards:

Other Stock Awards:

Number of Shares of Stock or

All Other Option Awards:

Other Option Awards:

Number of Securities Underlying

Exercise or Base Price of Option

Threshold ($)

Threshold (#)

Russell Greenberg

or Base Price of Option

Philippe Benacin

1 unchanged sentence

Frédéric Garcia-Pelayo

Interparfums SA

Stock Compensation Plan

The following table

sets certain information relating to each grant of an award made by Interparfums SA to the executive officers of our company listed

in the Summary Compensation Table during the past fiscal year.

Equity awards relate to the shares of Interparfums SA.

Grants of Plan-Based Awards

Estimated Future Payouts Under

Non-Equity Incentive Plan Awards

Estimated Future Payouts Under

Equity Incentive Plan Awards

All Other Stock Awards:

Number of Shares of Stock or

All Other Option Awards:

Number of Securities Underlying

Exercise or Base Price of Option

Threshold ($)

Threshold (#)

Russell Greenberg

means not applicable.

SA Stock Compensation Plan

awards were granted in 2023 by Interparfums SA under its Stock Compensation Plan.

SA Profit Sharing Plan

discussed above and required by French law, Inter Parfums, SA maintains its own profit sharing plan for all French employees who

have completed three months of service, including executive officers of our European based operations other than Mr.

the Chief Executive Officer of Inter Parfums, SA.

Benefits are calculated based upon a percentage of taxable income of Interparfums

SA and allocated to employees based upon salary.

The maximum amount payable per year per employee is approximately $37,603.

of total annual benefits contribution is made according to the following formula:

of (Interparfums SA net income, less 2.5% of shareholders equity without net income for the year) times a fraction, the numerator

of which is wages, and the denominator of which is net income before tax + wages + taxes (other than income tax) + valuation allowances

+ amortization expenses + interest expenses.

following table sets certain information relating to each grant of a non-equity award made by Interparfums SA to the executive

officers of our company listed in the Summary Compensation Table during the past fiscal year.

Equity awards relate to the shares

of Interparfums SA.

Michel Atwood

Philippe Benacin

Philippe Santi

Frédéric Garcia-Pelayo

Interparfums SA Profit Sharing Plan

Frédéric Garcia-Pelayo

NA means not applicable.

Interparfums SA

Profit Sharing Plan

Also as discussed above

and required by French law, Inter Parfums, SA maintains its own profit sharing plan for all French employees who have completed

three months of service, including executive officers of our European operations other than Mr.

Benacin, the Chief Executive Officer

of Inter Parfums, SA.

Benefits are calculated based upon a percentage of taxable income of Interparfums SA and allocated to employees

based upon salary.

The maximum amount payable per year per employee is approximately $32,485.

Calculation of total

annual benefits contribution is made according to the following formula:

67% of (Interparfums

SA net income, less 2.5% of shareholders equity without net income for the year) times a fraction, the numerator of which is wages,

and the denominator of which is net income before tax + wages + taxes (other than income tax) + valuation allowances + amortization

expenses + interest expenses.

The following table

sets certain information relating to each grant of a non-equity award made by Interparfums SA to the executive officers of our

company listed in the Summary Compensation Table during the past fiscal year.

Equity awards relate to the shares of Interparfums

Outstanding Equity Awards at Fiscal

The following table

sets forth certain information relating to outstanding equity awards of our Company held by the executive officers listed in the

Summary Compensation Table as of December 31, 2022.

Option Awards

Interparfums SA Profit Sharing Plan

Equity Awards at Fiscal Year-End

following table sets forth certain information relating to outstanding equity awards of our Company held by the executive officers

listed in the Summary Compensation Table as of December 31, 2023.

Exercisable (1)

Unexercisable

Equity Incentive

Russell Greenberg

Michel Atwood

2 unchanged sentences

Frédéric Garcia-Pelayo

[ Footnotes from table above ]

All options expire 6 years from the date of grant, and vest 20% each year commencing one year after the date of grant.

Options are held in the name of personal holding company.

The following table

sets certain information relating to outstanding equity awards granted by Interparfums SA, our majority-owned French subsidiary

which has its shares traded on the NYSE Euronext, held by the executive officers of our company listed in the Summary Compensation

Table as of the end of the past fiscal year.

OUTSTANDING EQUITY AWARDS AT FISCAL YEAR-END

from table above ]

All options expire

6 years from the date of grant, and vest 20% each year commencing one year after the date of grant.

Options are held

in the name of personal holding company.

following table sets certain information relating to outstanding equity awards granted by Interparfums SA, our majority-owned

French subsidiary which has its shares traded on the NYSE Euronext, held by the executive officers of our company listed in the

Summary Compensation Table as of the end of the past fiscal year.

EQUITY AWARDS AT FISCAL YEAR-END

OF INTERPARFUMS SA

Option Awards

Number of Securities

Underlying Unexercised Options (#) Exercisable)

Number of Securities

Underlying Unexercised Options (#) Unexercisable

Equity Incentive

of Securities Underlying Unexercised Options (#) Exercisable)

of Securities Underlying Unexercised Options (#) Unexercisable

Incentive Plan Awards:

Number of Securities Underlying Unexercised Unearned

Option Expiration

Number of Shares

or Units of Stock that Have Not Vested (#)(1)

of Shares or Units of Stock that Have Not Vested (#)(1)

Equity Incentive

Value of Shares or Units of Stock that Have Not Vested ($)

Incentive Plan Awards:

Number of Unearned Shares, Units or Other Rights that Have Not Vested (#)

Equity Incentive Plan Awards:

Incentive Plan Awards:

Market or Payout Value of Unearned Shares, Units or Other Rights that Have Not Vested($)

Russell Greenberg

Philippe Benacin

Philippe Santi

Frédéric Garcia-Pelayo

1 Estimated number of shares are to be

issued only to the extent that the performance conditions have been met.

2 As of December 31, 2022, the closing

price of Interparfums SA as reported by Euronext was 55.60 euros, and the exchange rate was 1.053 U.S.

Garcia-Pelayo

Estimated number of shares are to be issued only to the extent that the performance conditions have been met.

As of December 31, 2023, the closing price of Interparfums SA as reported by the Euronext was 50.40 euros, and the exchange rate

was 1.08 U.S.

dollars to 1 euro.

Option Exercises and Stock Vested

The following table

sets forth certain information relating to each option exercise affected during the past fiscal year, and each vesting of stock,

including restricted stock, restricted stock units and similar instruments of our company during the past fiscal year, for the

executive officers of our company listed in the Summary Compensation Table.

OPTION EXERCISES AND STOCK VESTED

Option Awards

Russell Greenberg

Exercises and Stock Vested

following table sets forth certain information relating to each option exercise affected during the past fiscal year, and each

vesting of stock, including restricted stock, restricted stock units and similar instruments of our company during the past fiscal

year, for the executive officers of our company listed in the Summary Compensation Table.

EXERCISES AND STOCK VESTED

Michel Atwood

Philippe Benacin

Philippe Santi

Frédéric Garcia-Pelayo

[Footnotes from table above]

Total value realized on exercise of options in dollars is based upon the difference between the fair market value of the common stock on the date of exercise, and the exercise price of the option.

Regarding Interparfums

SA, our majority-owned French subsidiary which has its shares traded on the Euronext, no options were exercised during the past

fiscal year, and there was no vesting of stock, including restricted stock, restricted stock units and similar instruments during

the past fiscal year, for the executive officers of our company listed in the Summary Compensation Table.

Pension Benefits

The following table

sets forth certain information relating to payment of benefits in connection with retirement plans during the past fiscal year,

for the executive officers of our company listed in the Summary Compensation Table.

PENSION BENEFITS

Russell Greenberg

Michel Atwood

Philippe Benacin

Inter Parfums SA Pension Plan

Philippe Santi

Inter Parfums SA Pension Plan

Frédéric Garcia-Pelayo

Inter Parfums SA Pension Plan

Does not include any contributions made by prior employers, or individually by the recipients as such information is confidential under French law.

Interparfums SA maintains

a pension plan for all of its employees, including all executive officers.

The calculation of commitments for severance benefits

involves estimating the probable present value of projected benefit obligations.

This projected benefit obligations are then prorated

to take into account seniority of the employees of Interparfums SA on the calculation date.

In calculating benefits,

the following assumptions were applied:

voluntary retirement at age 65;

a rate of 45% for employer payroll contributions for all employees;

a 3% average annual salary increase;

an annual rate of turnover for all employees under 55 years of age and nil above;

the TH 00-02 mortality table for men and the TF 00-02 mortality table for women;

a discount rate of 3.8%.

The normal retirement age is 65 years,

but employees, including Messrs.

Benacin, Santi and Garcia-Pelayo, can collect reduced benefits if they retire at age 62.

Nonqualified Deferred Compensation

We do not maintain

any nonqualified deferred compensation plans.

CEO Pay Ratio

As required by Section

953(b) of the Dodd-Frank Wall Street Reform and Consumer Protection Act, and Item 402(u) of Regulation S-K, we are providing the

following information about the relationship of the annual total compensation of our mean employee and the annual total compensation

Garcia-Pelayo

from table above]

Total value realized

on exercise of options in dollars is based upon the difference between the fair market value of the common stock on the date

of exercise, and the exercise price of the option.

Interparfums SA, our majority-owned French subsidiary which has its shares traded on the Euronext, no options were exercised during

the past fiscal year, and there was no vesting of stock, including restricted stock, restricted stock units and similar instruments

during the past fiscal year, for the executive officers of our company listed in the Summary Compensation Table.

following table sets forth certain information relating to payment of benefits in connection with retirement plans during the

past fiscal year, for the executive officers of our company listed in the Summary Compensation Table.

Michel Atwood

Parfums SA Pension Plan

Garcia-Pelayo

Parfums SA Pension Plan

Does not include

any contributions made by prior employers, or individually by the recipients as such information is confidential under French

SA maintains a pension plan for all of its employees, including all executive officers.

The calculation of commitments for severance

benefits involves estimating the probable present value of projected benefit obligations.

This projected benefit obligations are

then prorated to take into account seniority of the employees of Interparfums SA on the calculation date.

calculating benefits, the following assumptions were applied:

voluntary retirement

a rate of 45% for

employer payroll contributions for all employees;

a 3% average annual

salary increase;

an annual rate of

turnover for all employees under 55 years of age and nil above;

the TH 00-02 mortality

table for men and the TF 00-02 mortality table for women;

a discount rate

normal retirement age is 65 years, but employees, including Messrs.

Benacin, Santi and Garcia-Pelayo, can collect reduced benefits

if they retire at age 62.

Deferred Compensation

do not maintain any nonqualified deferred compensation plans.

required by Section 953(b) of the Dodd-Frank Wall Street Reform and Consumer Protection Act, and Item 402(u) of Regulation S-K,

we are providing the following information about the relationship of the annual total compensation of our mean employee and the

annual total compensation of Mr.

Jean Madar, Chief Executive Officer (the “CEO”):

For 2022, our last

completed fiscal year:

Our median employee’s compensation

Our Chief Executive Officer’s total 2022 compensation was $2,460,315

Accordingly, our 2022 CEO to Median Employee

Pay Ratio was 37.05 to 1

This pay ratio is a

reasonable estimate calculated in a manner consistent with SEC rules based on our payroll and employment records.

We identified

our median employee using our total employee population as of December 31, 2022 by applying a consistently applied compensation

measure across our global employee population.

For our consistently applied compensation measure, we used all compensation, including

actual base salary, bonuses, commissions, and any overtime paid during the 12-month period ending December 31, 2022.

use any material estimates, assumptions, adjustments or statistical sampling to determine the worldwide median employee.

The SEC rules for identifying

the median compensated employee and calculating the pay ratio based on that employee’s annual total compensation allow companies

to adopt a variety of methodologies, to apply certain exclusions, and to make reasonable estimates and assumptions that reflect

their compensation practices.

As such, the pay ratio reported by other companies may not be comparable to the pay ratio reported

above, as other companies may have different employment and compensation practices and may utilize different methodologies, exclusions,

estimates and assumptions in calculating their own pay ratios.

Employment and

Consulting Agreements

Please see our Annual

Report on Form 10-K for the year ended December 31, 2021, Item 11 under the heading “ Employment and Consulting Agreements ”

for a material terms of the employment agreement with Philippe Benacin, individually, and the consulting agreements with, and fees

and stock options previously granted to, Philippe Benacin Holding SAS and Jean Madar Holding SAS, which is incorporated by reference

The following table

sets forth certain information relating to the compensation for each of our directors who is not an executive officer of our Company

named in the Summary Compensation Table for the past fiscal year.

DIRECTOR COMPENSATION

Fees Earned or Paid in Cash

2023, our last completed fiscal year:

median employee’s compensation was $72,274

Chief Executive Officer’s total 2023 compensation was $4,432,417

our 2023 CEO to Median Employee Pay Ratio was 61.33 to 1

pay ratio is a reasonable estimate calculated in a manner consistent with SEC rules based on our payroll and employment records.

We identified our median employee using our total employee population as of December 31, 2023 by applying a consistently applied

compensation measure across our global employee population.

For our consistently applied compensation measure, we used all compensation,

including actual base salary, bonuses, commissions, and any overtime paid during the 12-month period ending December 31, 2023.

We did not use any material estimates, assumptions, adjustments or statistical sampling to determine the worldwide median employee.

SEC rules for identifying the median compensated employee and calculating the pay ratio based on that employee’s annual

total compensation allow companies to adopt a variety of methodologies, to apply certain exclusions, and to make reasonable estimates

and assumptions that reflect their compensation practices.

As such, the pay ratio reported by other companies may not be comparable

to the pay ratio reported above, as other companies may have different employment and compensation practices and may utilize different

methodologies, exclusions, estimates and assumptions in calculating their own pay ratios.

and Service/Consulting Agreements

see our Annual Report on Form 10-K for the year ended December 31, 2021, Item 11 under the heading “ Employment

and Consulting Agreements ” for the material terms of the employment agreement with Philippe Benacin,

individually, and the consulting agreement and fees previously granted to, Philippe Benacin Holding SAS, which is

incorporated by reference herein.

following table sets forth certain information relating to the compensation for each of our directors who is not an executive

officer of our Company named in the Summary Compensation Table for the past fiscal year.

Earned or Paid in Cash

Incentive Plan Compensation

1 unchanged sentence

and Nonqualified Deferred Compensation Earnings

All Other Compensation

Francois Heilbronn 2

Other Compensation

Robert Bensoussan 3

3 unchanged sentences

Gilbert Harrison 7

[Footnotes from table above]

Represents gain from exercise of stock options, except for Mr.

Harrison, which consists of a $120,000 payment made in 2022 to the company controlled by Mr.

from table above]

Represents gain

from exercise of stock options, except for Mr.

Harrison, which includes a $60,000 payment made in 2023 to the company controlled

Harrison in connection with the acquisition of the Donna Karan license.

See “Fee for Director’s Company” in Item 13, Certain Relationships and Related Transactions, and Director Independence, in this annual report on Form 10-K.

As of the end of the last fiscal year, Mr.

See “Fee for Director’s Company”

in Item 13, Certain Relationships and Related Transactions, and Director Independence, in this annual report on Form 10-K.

As of the end of

the last fiscal year, Mr.

Heilbronn held options to purchase an aggregate of 7,000 shares of our common stock.

As of the end of the last fiscal year, Mr.

As of the end of

the last fiscal year, Mr.

Bensoussan held options to purchase an aggregate of 7,000 shares of our common stock.

As of the end of the last fiscal year, Mr.

Choël held options to purchase an aggregate of 5,750 shares of our common stock.

As of the end of the last fiscal year, Mr.

Dyens held options to purchase an aggregate of 6,500 shares of our common stock.

As of the end of the last fiscal year, Ms.

As of the end of

the last fiscal year, Mr.

Choël held options to purchase an aggregate of no shares of our common stock.

As of the end of

the last fiscal year, Mr.

Dyens held options to purchase an aggregate of no shares of our common stock.

As of the end of

the last fiscal year, Ms.

Gabai-Pinsky held options to purchase an aggregate of 6,000 shares of our common stock.

As of the end of the last fiscal year, Mr.

As of the end of

the last fiscal year, Mr.

Harrison held options to purchase an aggregate of 7,000 shares of our common stock.

All nonemployee directors

receive $6,000 for each board meeting at which they participate in person, and $3,000 for each meeting held by conference telephone.

As of the end of

the last fiscal year, Kappauf held options to purchase an aggregate of 1,500 shares of our common stock.

nonemployee directors receive $6,000 for each board meeting at which they participate in person, and $3,000 for each meeting held

by conference telephone.

In addition, the annual fee for each member of the audit committee is $8,000.

The compensation for the nonemployee directors remained

the same for 2021 and 2022, except for Mr.

The compensation for the

nonemployee directors remained the same for 2021, 2022, and 2023, except for Mr.

During 2021, a company owned by Mr.

Harrison received a fee equal to $300,000,

in connection with the Donna Karan license agreement, which is effective on July 1, 2022.

A payment of $120,000 was made in 2021

Harrison’s company, $120,000 was paid one year later in 2022, and $60,000 will be paid one year thereafter in 2023.

We maintain a stock

option plan for our nonemployee or independent directors.

The purpose of this plans is to assist us in attracting and retaining

key directors who are responsible for continuing the growth and success of our company.

Under such plan, until 2022 options to

purchase 1,500 shares are granted on each February 1st to all nonemployee directors for as long as each is a nonemployee director

on such date.

However, if a nonemployee director does not attend certain of the board meetings, then such option grants are reduced

according to a schedule.

However, our board of directors cancelled the automatic grant of options to the nonemployee directors

effective with the grant that had been scheduled for February 1, 2022.

After discussions Mr.

Atwood had with certain financial consultants relating to potential compensation plans in lieu of stock option grants to the Company’s

independent directors, and consultation between Messrs.

Madar and Atwood, it was determined that the most favorable way for the

nonemployee directors to be compensated was to amend the 2016 Stock Option Plan to reinstate the automatic grant of stock options

previously provided to nonemployee directors, commencing with a new automatic grant on the last business day of 2022, December

30, and continuing on the last business day of each year thereafter, subject to the approval of the shareholders of this Corporation

at the 2023 annual meeting of shareholders.

The automatic option grants to independent directors were approved by the Board of

Directors with the following changes:

Reinstatement of the automatic grant of nonqualified stock options to all nonemployee directors

was made without any discretion on the part of the Executive Compensation and Stock Option Committee, with the right to purchase

1,500 shares of the our common stock under our 2016 Stock Option Plan, as amended (the “2016 Stock Option Plan”), at

the purchase per share on the date of grant equal to the fair market value as determined in accordance with the 2016 Stock Option

Plan, each exercisable for a six (6) year period;

provided that, such options shall vest and become exercisable to purchase shares

of Common Stock as follows:

20% one year after the date of grant, and then 20% on each of the second, third, fourth and fifth consecutive

years from the date of grant on a cumulative basis, so that each option shall become fully vested and exercisable on the first

day of the sixth year from the date of grant, with the automatic grant date to commence on the last business day of this year,

December 30, 2022 and continuing on the last business day of each year thereafter, in lieu of the grant date on each February 1 st .

Harrison received a fee equal to $300,000, in connection with the Donna Karan license agreement, which is effective on July 1,

A payment of $120,000 was made in 2021 to Mr.

Harrison’s company, $120,000 was paid one year later in 2022, and $60,000

was paid one year thereafter in 2023.

maintain a stock option plan for our nonemployee or independent directors.

The purpose of this plan is to assist us in attracting

and retaining key directors who are responsible for continuing the growth and success of our company.

Under such plan, options

to purchase 1,500 shares are granted on the last business day of each year at the fair market value on the date of grant to all

nonemployee directors for as long as each is a nonemployee director on such date.

Such options vest and become exercisable to

purchase shares of Common Stock as follows:

20% one year after the date of grant, and then 20% on each of the second, third, fourth

and fifth consecutive years from the date of grant on a cumulative basis, so that each option shall become fully vested and exercisable

on the first day of the sixth year from the date of grant.

However, if a nonemployee director does not attend certain of the board

meetings, then such option grants are reduced according to a schedule.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

The following table

sets forth information with respect to the beneficial ownership of our common stock by (a) each person we know to be the beneficial

owner of more than 5% of our outstanding common stock, (b) our executive officers and directors and (c) all of our directors and

officers as a group.

following table sets forth information with respect to the beneficial ownership of our common stock by (a) each person we know

to be the beneficial owner of more than 5% of our outstanding common stock, (b) our executive officers and directors and (c) all

of our directors and officers as a group.

Madar and Benacin own 99.99% of their respective personal holding companies.

As of February 28, 2023,

we had 32,109,360 shares of common stock outstanding.

Name and Address of Beneficial Owner

c/o Interparfums SA

10 rue de Solférino

As of February 27, 2024, we had 32,021,700 shares of common stock outstanding.

and Address of Beneficial Owner

Jean Madar Holding SAS

166 rue du Faubourg Saint-Honoré

75008 Paris, France

Philippe Benacin

c/o Interparfums SA

Interparfums SA

10 rue de Solférino

15 unchanged sentences

W1K 5DS London, UK

Patrick Choël

140 Rue de Grenelle

75007, Paris, France

Michel Dyens & Co.

17 Avenue Montaigne

75007 Paris, France

Veronique Gabai-Pinsky

3 unchanged sentences

Harrison Group

745 Fifth Avenue, Suite 514

New York, NY 10151

239 Ox Pasture Road

South Hampton, NY 11968

C Street, Villa 76

United Arab Emirates

Frederic Garcia-Pelayo

10 unchanged sentences

(As a Group 10 Persons)

All shares of common stock are directly held with sole voting power and sole power to dispose, unless otherwise stated.

Options which are exercisable within 60 days are included in beneficial ownership calculations.

Consists of 24,400 shares held directly, 7,032,341 shares held indirectly through Jean Madar Holding SAS, a personal holding company, and options to purchase 60,000 shares.

Consists of 6,846,064 shares held indirectly through Philippe Benacin Holding SAS, a personal holding company, and options to purchase 60,000 shares.

Consists of shares of common stock underlying options for Mr.

Consists of 26,063 shares held directly and options to purchase 2,875 shares for Mr.

Consists of 7,500 shares held directly and options to purchase 2,875 shares for Mr.

Consists of 4,250 shares held directly and

options to purchase 2,825 shares for Mr.

Consists of 5,000 shares held directly and options to purchase 2,875 shares for Mr.

Consists of shares of common stock underlying options for Ms.

All shares of common

stock are directly held with sole voting power and sole power to dispose, unless otherwise stated.

Options which are exercisable

within 60 days are included in beneficial ownership calculations.

Consists of 10,500

shares held directly, 7,049,341 shares held indirectly through Jean Madar Holding SAS, a personal holding company, and options

to purchase 45,000 shares.

Consists of 6,871,064

shares held indirectly through Philippe Benacin Holding SAS, a personal holding company, and options to purchase 45,000 shares.

Consists of shares

of common stock underlying options for Mr.

Consists of 27,063

shares held directly and options to purchase 2,175 shares for Mr.

Consists of 9,500

shares held directly and options to purchase 2,175 shares for Mr.

Consists of shares

of common stock underlying options for Ms.

Gabai-Pinsky.

Consists of shares of common stock underlying options for Mr.

Consists of 1,000

shares held directly and 2,175 shares of common stock underlying options for Mr.

Consists of shares

of common stock underlying options for Mr.

Garcia-Pelayo.

Information based upon Schedule 13G of Blackrock, Inc.

Information based

upon Schedule 13G of Blackrock, Inc.

Amendment No.

1 dated January 25, 2024 as filed with the Securities and Exchange Commission.

Information based upon Schedule 13G Amendment 5 of The Vanguard Group, an investment advisor, dated February 9, 2023 as filed with the Securities and Exchange Commission.

Consists of 13,945,618 shares held directly

or indirectly, and options to purchase 152,050 shares.

The following table

sets forth certain information as of the end of our last fiscal year regarding all equity compensation plans that provide for the

award of equity securities or the grant of options, warrants or rights to purchase our equity securities.

Equity Compensation Plan Information

Plan category

based upon Schedule 13G Amendment No.

7 of The Vanguard Group, an investment advisor, dated February 13, 2024 as filed with

the Securities and Exchange Commission.

Consists of 13,969,018

shares held directly or indirectly, and options to purchase 103,700 shares.

following table sets forth certain information as of the end of our last fiscal year regarding all equity compensation plans that

provide for the award of equity securities or the grant of options, warrants or rights to purchase our equity securities.

Compensation Plan Information

securities to

4 unchanged sentences

future issuance

Equity compensation plans approved by security

Equity compensation plans not approved by security holders

Certain Relationships and Related

Transactions, and Director Independence

Transactions with European Subsidiaries

We also provide

(or had provided on our behalf) certain financial, accounting and legal services for Interparfums SA, and during 2022, 2021 and

2020 fees for such services were $491,300, $443,625 and $450,750, respectively.

In September 2021,

Interparfums Luxury Brands, Inc., an indirect majority-owned subsidiary of the Company, loaned the Company $24 million, which is

repayable in 12 equal monthly payments with interest at 2% per annum commencing on January 31, 2022.

In December 2021, Inter

Parfums USA, LLC, a United States subsidiary, renewed a license agreement for five years that was initially signed in 2012 on the

same terms with Interparfums Suisse (SARL), a Swiss subsidiary of Interparfums SA, for the right to sell amenities under the Lanvin

brand name to luxury hotels, cruise lines and airlines in return for royalty payments as are customary in our industry.

In September 2022,

Interparfums Luxury Brands, Inc.

loaned the Company $10 million, which is repayable in one lump sum on June 30, 2023 with interest

at 3.5% per annum.

In addition, the $2 million payment due on September 30, 2022 by the Company against the loan made in September

2021 was postponed to January 31, 2023 together with interest at 2% per annum.

Fee for Director’s Company

In connection with

the acquisition of the Donna Karan license, which became effective on July 1, 2022 as discussed above, we agreed to pay to a company

controlled by Mr.

Gilbert Harrison, a director, the sum of $300,000, payable over time, with $120,000 paid in 2021, $120,000 paid

one year later in 2022 and $60,000 due two years later in 2023.

Consulting Agreements

Please see our Annual

Report on Form 10-K for the year ended December 31, 2021, Item 11 under the heading “ Employment and Consulting Agreements ”

for a material terms of the employment agreement with Philippe Benacin, individually, and the consulting agreements with, and fees

and stock options previously granted to, Philippe Benacin Holding SAS and Jean Madar Holding SAS, which is incorporated by reference

Procedures for Approval of Related

Person Transactions

Transactions between

related persons, such as between an executive officer or director and our company, or any company or person controlled by such

officer or director, are required to be approved by our Audit Committee of our board of directors.

Our Audit Committee Charter

contains such explicit authority, as required by the applicable rules of The Nasdaq Stock Market.

The following are our

directors who are independent directors within the applicable rules of The Nasdaq Stock Market:

Francois Heilbronn

Robert Bensoussan

Patrick Choël

Veronique Gabai-Pinsky

Gilbert Harrison

We follow and comply

with the independent director definitions as provided by The Nasdaq Stock Market rules in determining the independence of our directors,

which are posted on our company’s website.

In addition, such rules are also available on The Nasdaq Stock Market’s

In addition, The Nasdaq Stock Market maintains more stringent rules relating to director independence for the members

of our Audit Committee, and the members of our Audit Committee, Messrs.

Heilbronn and Choël, as well as Ms.

Gabai-Pinsky,

are independent within the meaning of those rules.

Board Leadership Structure and Risk

Please see our Annual

Report on Form 10-K for the year ended December 31, 2021, Item 13.

Certain Relationships and Related Transactions, and Director

Independence, under the heading “ Board Leadership Structure and Risk Management ,” for prior disclosure

on this topic, which is incorporated by reference herein.

Principal Accountant Fees and

The following sets

forth the fees billed to us by Mazars USA LLP, as well as discusses the services provided for the past two fiscal years, fiscal

years ended December 31, 2022 and December 31, 2021.

billed by Mazars USA LLP and its affiliate, Mazars S.A.

for audit services and review of the financial statements contained in

our Quarterly Reports on Form 10-Q were $1.4 million and $1.2 and million for 2022 and 2021, respectively.

Audit-Related Fees

compensation plans approved by security holders

Equity compensation

plans not approved by security holders

Certain Relationships and Related Transactions, and Director Independence

with European Subsidiaries

also provide (or had provided on our behalf) certain financial, accounting and legal services for Interparfums SA, and during

2023, 2022, and 2021, and fees for such services were $530,000, $491,300, and $443,625, respectively.

September 2023, Interparfums Luxury Brands, Inc.

an indirect majority-owned subsidiary of the Company, loaned the Company the

amount of $20 million, which is repayable $5 million per month starting in May 2024 with the last payment including all accrued

interest at 5.3% per annum.

In December 2023, Interparfums Luxury Brands, Inc.

made a second loan to the Company in the amount

of $12 million, which is repayable in May 2024 with interest at 5.3% per annum.

These loans partially funded our share repurchase

plan during 2023 and cash dividend payments.

September 2022, Interparfums Luxury Brands, Inc.

loaned the Company $10 million, which was repayable in one lump sum on June 30,

2023 with interest at 3.5% per annum.

In addition, the $2 million payment due on September 30, 2022 by the Company against the

loan made in September 2021 was postponed to January 31, 2023 together with interest at 2% per annum.

These two loans were repaid

in full in 2023.

for Director’s Company

connection with the acquisition of the Donna Karan license, which became effective on July 1, 2022 as discussed above, we agreed

to pay to a company controlled by Mr.

Gilbert Harrison, a director, the sum of $300,000, payable over time, with $120,000 paid

in 2021, $120,000 paid one year later in 2022 and $60,000 paid two years later in 2023.

and Consulting Agreements

April 2023, our Board of Directors approved an amendment to the Coordinating and Supervising Service Agreement (“Service

Agreement”) that amended the fee arrangement Jean Madar Holding SAS, which replaced a prior agreement that was initially

entered into in 2013, as amended.

The amendment to the Service Agreement was previously approved by the Executive Compensation

and Stock Option Committee, as well as the Audit Committee due to the related party nature of the Service Agreement.

The aggregate

increase in fees payable to Jean Madar Holding SAS is from $1.23 million to $2.0 million on an annual basis, effective as of January

Further, as requested by Jean Madar Holding SAS, effective April 1, 2023 and continuing thereafter, all fees are to be

paid entirely to Jean Madar Holding SAS, and for the balance of calendar year 2023, the amount of such fees are inclusive of the

salary paid to Jean Madar individually from January 1, 2023 to March 31, 2023.

As Jean Madar, our Chief Executive Officer and

Chairman of the Board, is the beneficial owner of Jean Madar Holding SAS, all of such fees paid to Jean Madar Holding SAS have

been characterized as base salary for the disclosure purposes for the Summary Compensation and related discussion in Table in

see our Annual Report on Form 10-K for the year ended December 31, 2021, Item 11 under the heading “ Employment and

Consulting Agreements ” for a material terms of the employment agreement with Philippe Benacin, individually, and

the consulting agreements with, and fees and stock options previously granted to, Philippe Benacin Holding SAS, which is incorporated

by reference herein.

for Approval of Related Person Transactions

between related persons, such as between an executive officer or director and our company, or any company or person controlled

by such officer or director, are required to be approved by our Audit Committee of our board of directors.

Our Audit Committee

Charter contains such explicit authority, as required by the applicable rules of The Nasdaq Stock Market.

following are our directors who are independent directors within the applicable rules of The Nasdaq Stock Market:

Gerard Kappauf

We follow and comply with the independent director definitions as provided by The Nasdaq Stock Market

rules in determining the independence of our directors, which are posted on our company’s website.

In addition, such rules

are also available on The Nasdaq Stock Market’s website.

In addition, The Nasdaq Stock Market maintains more stringent rules

relating to director independence for the members of our Audit Committee, and the members of our Audit Committee, Messrs.

and Bensoussan, as well as Ms.

Gabai-Pinsky, are independent within the meaning of those rules.

Leadership Structure and Risk Management

see our Annual Report on Form 10-K for the year ended December 31, 2021, Item 13.

Certain Relationships and Related Transactions,

and Director Independence, under the heading “ Board Leadership Structure and Risk Management ,” for

prior disclosure on this topic, which is incorporated by reference herein.

Principal Accountant Fees and Services

following sets forth the fees billed to us by Mazars USA LLP, as well as discusses the services provided for the past two fiscal

years, fiscal years ended December 31, 2023 and December 31, 2022.

Fees billed by Mazars

USA LLP and its affiliate, Mazars S.A.

for audit services and review of the consolidated financial statements contained in our

Quarterly Reports on Form 10-Q were $1.4 million and $1.4 and million for 2023 and 2022, respectively.

Audit-Related

USA LLP did not bill us for any audit-related services during 2023 and 2022.

USA did not bill us in 2022 for any tax services.

Tax services billed to us during 2021 was $49,300.

All Other Fees

billed us $6,000 and $3,000 for other services during 2022 and 2021, respectively.

Audit Committee Pre-Approval Policies

and Procedures

The Audit Committee

has the sole authority for the appointment, compensation and oversight of the work of our independent accountants, who prepare

or issue an audit report for us.

During the first quarter

of 2022, the audit committee authorized the following non-audit services to be performed by Mazars USA LLP.

We authorized the engagement of Mazars USA LLP if deemed necessary to provide tax consultation in the ordinary course of business for fiscal year ended December 31, 2022.

We authorized the engagement of Mazars USA LLP if deemed necessary to provide tax consultation as may be required on a project by project basis that would not be considered in the ordinary course of business, up to a $10,000 fee limit per project (or €10,000 in the case of Interparfums SA), subject to an aggregate fee limit of $50,000 for fiscal year ended December 31, 2022.

If we require further tax services from Mazars USA LLP, then the approval of the audit committee must be obtained.

We authorized the engagement of Mazars USA LLP if deemed necessary to provide attestation or other services as may be required on a project by project basis that would not be considered in the ordinary course of business, up to a $10,000 fee limit per project (or €10,000 in the case of Interparfums SA), subject to an aggregate fee limit of $50,000 for fiscal year ended December 31, 2022.

USA LLP did not bill us for any tax services in 2023 and 2022.

us $9,000 and $6,000 for other services during 2023 and 2022, respectively.

Committee Pre-Approval Policies and Procedures

Audit Committee has the sole authority for the appointment, compensation and oversight of the work of our independent accountants,

who prepare or issue an audit report for us.

the first quarter of 2023, the audit committee authorized the following non-audit services to be performed by Mazars USA LLP.

We authorized the

engagement of Mazars USA LLP if deemed necessary to provide tax consultation in the ordinary course of business for fiscal

year ended December 31, 2023.

We authorized the

engagement of Mazars USA LLP if deemed necessary to provide tax consultation as may be required on a project by project basis

that would not be considered in the ordinary course of business, up to a $10,000 fee limit per project (or €10,000 in

the case of Interparfums SA), subject to an aggregate fee limit of $50,000 for fiscal year ended December 31, 2023.

require further tax services from Mazars USA LLP, then the approval of the audit committee must be obtained.

We authorized the

engagement of Mazars USA LLP if deemed necessary to provide attestation or other services as may be required on a project

by project basis that would not be considered in the ordinary course of business, up to a $10,000 fee limit per project (or

€10,000 in the case of Interparfums SA), subject to an aggregate fee limit of $50,000 for fiscal year ended December

If we require further tax services from Mazars USA LLP, then the approval of the audit committee must be obtained.

If we require other services by Mazars USA LLP on an expedited basis such that obtaining pre-approval of the audit committee is not practicable, then the Chairman of the Committee has authority to grant the required pre-approvals for all such services.

We imposed a cap of $100,000 on the fees that Mazars USA LLP can charge for services on an expedited basis that are approved by the Chairman without obtaining full audit committee approval.

None of the non-audit services of either of the Company’s auditors had the pre-approval requirement waived in accordance with Rule 2-01(c)(7)(i)(C) of Regulation S-X.

Exhibits, Financial Statement

( a)(1) Financial Statements annexed hereto

If we require other

services by Mazars USA LLP on an expedited basis such that obtaining pre-approval of the audit committee is not practicable,

then the Chairman of the Committee has authority to grant the required pre-approvals for all such services.

We imposed a cap

of $100,000 on the fees that Mazars USA LLP can charge for services on an expedited basis that are approved by the Chairman

without obtaining full audit committee approval.

None of the non-audit

services of either of the Company’s auditors had the pre-approval requirement waived in accordance with Rule 2-01(c)(7)(i)(C)

of Regulation S-X.

Exhibits, Financial Statement Schedules

Financial Statements annexed hereto

Report of Independent Registered Public Accounting Firm

Audited Financial Statements:

Financial Statements:

Consolidated Balance Sheets as of December 31, 2023 and 2022

4 unchanged sentences

Notes to Consolidated Financial Statements

(a)(2) Financial Statement Schedule:

Financial Statement Schedule:

Schedule II – Valuation and Qualifying Accounts

(a)(3) Exhibits – The list of exhibits is contained in the

Exhibit Index, which follows the signature page of this report.

Exhibits – The list of exhibits is contained in the Exhibit Index, which follows the signature page of this report.

Form 10-K Summary

INTER PARFUMS,

PARFUMS, INC.

AND SUBSIDIARIES

Consolidated Financial Statements and Schedule

Financial Statements and Schedule

Report of Independent Registered Public Accounting Firm

( Mazars USA LLP, New York, New York, PCAOB ID 339 )

Audited Financial Statements:

USA LLP, New York, New York, PCAOB ID 339 )

Financial Statements:

Consolidated Balance Sheets as of December 31, 2023, and 2022

4 unchanged sentences

Notes to Consolidated Financial Statements

Financial Statement Schedule:

Statement Schedule:

Schedule II – Valuation and Qualifying Accounts

REPORT OF INDEPENDENT

REGISTERED PUBLIC ACCOUNTING FIRM

To Shareholders and the Board of Directors

of Inter Parfums, Inc.

OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To Shareholders and the Board of

Directors of Inter Parfums, Inc.

Opinions on the Financial Statements

20 unchanged sentences

The Company’s management is responsible

for these consolidated financial statements, for maintaining effective internal control over financial reporting, and for its assessment

of the effectiveness of internal control over financial reporting included in the accompanying Management’s Annual Report

on Internal Control over Financial Reporting.

Our responsibility is to express an opinion on the Company’s consolidated financial

statements and an opinion on the Company’s internal control over financial reporting based on our audits.

We are a public

accounting firm registered with the Public Company Accounting Oversight Board (United States) (“PCAOB”) and are required

to be independent with respect to the Company in accordance with the U.S.

federal securities laws and the applicable rules and

regulations of the Securities and Exchange Commission and the PCAOB.

for these consolidated financial statements, for maintaining effective internal control over financial reporting, and for its

assessment of the effectiveness of internal control over financial reporting included in the accompanying Management’s Annual

Report on Internal Control over Financial Reporting.

Our responsibility is to express an opinion on the Company’s consolidated

financial statements and an opinion on the Company’s internal control over financial reporting based on our audits.

a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (“PCAOB”) and

are required to be independent with respect to the Company in accordance with the U.S.

federal securities laws and the applicable

rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance

8 unchanged sentences

test basis, evidence regarding the amounts and disclosures in the consolidated financial statements.

Our audits also included evaluating

the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of

the consolidated financial statements.

Our audits also included

evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation

of the consolidated financial statements.

Our audit of internal control over financial reporting included obtaining an understanding

6 unchanged sentences

Control over Financial Reporting

A company’s internal control over

financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and

the preparation of consolidated financial statements for external purposes in accordance with generally accepted accounting principles.

A company’s internal control over financial reporting includes those policies and procedures that (1) pertain to the maintenance

of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company;

(2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of consolidated financial statements

in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only

in accordance with authorizations of management and directors of the company;

and (3) provide reasonable assurance regarding prevention

or timely detection of unauthorized acquisition, use, or disposition of the company’s assets that could have a material effect

on the consolidated financial statements.

Because of its inherent limitations, internal

control over financial reporting may not prevent or detect misstatements.

A company’s internal control

over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting

and the preparation of consolidated financial statements for external purposes in accordance with generally accepted accounting

A company’s internal control over financial reporting includes those policies and procedures that (1) pertain

to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the

assets of the company;

(2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of consolidated

financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company

are being made only in accordance with authorizations of management and directors of the company;

and (3) provide reasonable assurance

regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the company’s assets that could

have a material effect on the consolidated financial statements.

Because of its inherent limitations,

internal control over financial reporting may not prevent or detect misstatements.

Also, projections of any evaluation of effectiveness

6 unchanged sentences

(1) relates to accounts or disclosures that are material to the consolidated

financial statements and (2) involved especially challenging, subjective, or complex judgments.

financial statements and (2) involve especially challenging, subjective, or complex judgments.

The communication of the critical

2 unchanged sentences

or disclosures to which it relates.

As described in Notes 1 and 8 to the consolidated

financial statements, the Company’s consolidated indefinite and finite - life intangible assets balance was $291 million

at December 31, 2022.

Indefinite lived intangible assets principally consist of trademarks and finite-lived intangible assets represent

fees to acquire or enter into a license.

Those intangible assets are tested for

impairment as follows:

- Indefinite - life intangible assets are tested for impairment at least annually at the reporting

unit level or more frequently when events occur, or circumstances change.

The evaluation requires a comparison of the estimated

fair value of the asset to the carrying value of the asset.

The fair value is estimated based upon discounted future cash flow

If the carrying value of an indefinite-lived intangible asset exceeds its fair value, an impairment charge is recorded.

- Finite - life intangible assets are tested for impairment testing whenever events or changes in

circumstances indicate that the carrying amount of the asset may not be recoverable.

If impairment indicators exist, the undiscounted

future cash flows associated with the expected service potential of the asset are compared to the carrying value of the asset.

If the projection of undiscounted cash flows is less than the carrying value of a finite-lived intangible asset, an impairment

charge would be recorded.

The determination of the future cash flows

of the intangible assets requires management to make significant estimates and assumptions related to forecasts of future revenues,

operating margins, and discount rates.

As disclosed by management, changes in these assumptions could have a significant impact

on the future cash flows and therefore, on the amount of any impairment charge.

The determination of an impairment indicator on

the finite - life intangible assets requires management judgments and involves assumptions.

We identified the impairment assessment

of intangible assets as a critical audit matter as auditing management’s judgments regarding the evaluation of impairment

indicators, forecasts of future revenue, operating margin, and the discount rate to be applied involve a high degree of subjectivity.

The primary procedures we performed to

address this critical audit matter included:

► Reviewing the analysis of the identification

of impairment evidence for each indefinite and finite-life asset based on three indicators (sales analysis, new products launches,

and payment of minimum guarantees), and then corroborating that analysis with external information and evidence obtained in other

areas of the audit.

► Testing the effectiveness of controls

relating to management’s impairment tests, including controls over the impairment indicators and determination of the future

► In testing management’s process

for determining the future cash flows we evaluated the reasonableness of management’s forecasts of future revenue and operating

margin by performing a retrospective review in comparing these forecasts to historical operating results, evaluating whether the

assumptions used were reasonable considering current information as well as future expectations, and using additional evidence

obtained in other areas of the audit.

► Utilizing a valuation specialist

to assist in auditing the discount rate.

It includes evaluating whether the assumptions used were reasonable by comparing to third

party market data.

As described in Note 8 to the consolidated

financial statements, the Company’s consolidated Trademarks (indefinite lives) balance of $108.8 million at December 31,

2023, which included $11.3 million of the Rochas Fashion indefinite life intangible asset.

The principal considerations in determining

management’s annual impairment test for the Rochas Fashion intangible asset as a critical audit matter was due to the change

in events and circumstances surrounding the Rochas Fashon brand trademark and complexity of management’s estimates used

in their evaluation of the fair value of the Rochas Fashion trademark.

The significant assumptions used to estimate the fair value

of the Rochas Fashion intangible asset included the forecasted revenue, operating margin, and discount rate.

These significant

assumptions are forward-looking and could be affected by future economic and market conditions.

Changes in these assumptions could

have a significant impact on the fair value of the Rochas Fashion intangible asset, the amount of any impairment charge, or both.

We obtained an understanding, evaluated

the design and tested the operating effectiveness of Company’s controls over the Rochas Fashion intangible asset impairment

review process, including management’s review of the significant assumptions described above and controls over the completeness

and accuracy of the data used to develop such estimates.

To test the estimated fair value of

the Rochas Fashion intangible asset, our audit procedures included, among others, assessing the appropriateness of the valuation

model used, evaluating the significant assumptions discussed above, and testing and evaluating the completeness and accuracy of

the underlying data supporting the significant assumptions and estimates.

We compared the financial projections to the historical

accuracy of management’s estimates.

We involved our valuation specialists to assist in our evaluation of the Company's model,

valuation methodology and the discount rate.

Mazars USA LLP

3 unchanged sentences

February 27, 2024

INTER PARFUMS, INC.

PARFUMS, INC.

AND SUBSIDIARIES

Consolidated Balance Sheets

December 31, 2022, and 2021

(In thousands except share and per share

Balance Sheets

2023, and 2022

(In thousands except share and per share data)

Current assets:

12 unchanged sentences

Current liabilities:

Loans payable - banks

Current portion of long-term debt

12 unchanged sentences

Authorized 100,000,000 shares:

outstanding, 31,967,300 and 31,830,420 shares on December 31, 2022, and 2021, respectively

outstanding, 32,004,660 and 31,967,300 shares on December 31, 2023, and 2022,

Additional paid-in capital

1 unchanged sentence

Accumulated other comprehensive loss

Treasury stock, at cost, 9,864,805 common shares on December 31, 2022, and 2021

Treasury stock, at cost, 9,981,665 and

9,864,805 common shares on December 31, 2023, and 2022, respectively

Total Inter Parfums, Inc.

3 unchanged sentences

See accompanying notes to consolidated financial statements.

INTER PARFUMS, INC.

PARFUMS, INC.

AND SUBSIDIARIES

Consolidated Statements of Income

Years ended December 31, 2022, 2021, and

(In thousands except share and per share

Statements of Income

ended December 31, 2023, 2022, and 2021

(In thousands except share and per share data)

Cost of sales

6 unchanged sentences

Interest and investment income

Other loss (income)

Other (income) expense

Nonoperating Income (Expense)

Income before income taxes

Net income attributable to the

noncontrolling interest

Net income attributable to the noncontrolling interest

Net income attributable to Inter Parfums, Inc.

6 unchanged sentences

AND SUBSIDIARIES

Consolidated Statements of Comprehensive Income

Years ended December 31, 2022, 2021, and 2020

Consolidated Statements

of Comprehensive Income

Years ended December 31, 2023, 2022,

(In thousands except share and per share data)

Other comprehensive income:

Net derivative instrument income (loss), net of tax

Net derivative instrument (loss) income, net of tax

Transfer of OCI into earnings

adjustments, net of tax

Translation adjustments, net of tax

Other comprehensive income (loss), before tax

3 unchanged sentences

Translation adjustments, net of tax

Comprehensive income (loss), net of tax, atributable

to noncontrolling interest

Comprehensive income (loss), net of tax, attributable to noncontrolling

Comprehensive income attributable to Inter Parfums Inc.

See accompanying notes to consolidated financial statements.

INTER PARFUMS, INC.

accompanying notes to consolidated financial statements.

PARFUMS, INC.

AND SUBSIDIARIES

Consolidated Statements of Changes in Shareholders’ Equity

Years ended December 31, 2022, 2021, and 2020

Statements of Changes in Shareholders’ Equity

ended December 31, 2023, 2022, and 2021

(In thousands except share and per share data)

Common stock, beginning of year

Shares issued upon exercise of stock options

Common stock, end of year

Common stock, beginning and end of year

Additional paid-in capital, beginning of year

1 unchanged sentence

Share-based compensation

Purchase of subsidiary shares from noncontrolling interests

Shares issued for license acquisition

7 unchanged sentences

Transfer from other comprehensive income into earnings

Net derivative instrument income (loss), net of tax

Net derivative instrument (loss) income, net of tax

Accumulated other comprehensive loss, end of year

Treasury stock, beginning and end of year

Treasury stock, beginning of year

Shares repurchased

Treasury stock, end of year

Noncontrolling interest, beginning of year

4 unchanged sentences

Noncontrolling interest, end of year

See accompanying notes to consolidated financial statements.

INTER PARFUMS, INC.

accompanying notes to consolidated financial statements.

PARFUMS, INC.

AND SUBSIDIARIES

Consolidated Statements of Cash Flows

Years ended December 31, 2022, 2021, and 2020

Statements of Cash Flows

ended December 31, 2023, 2022, and 2021

(In thousands)

Cash flows from operating activities:

Adjustments to reconcile net income to net cash provided by operating activities:

Depreciation and amortization including impairment loss

Adjustments to reconcile net income to net cash

provided by operating activities:

Depreciation and amortization including impairment

Provision for doubtful accounts

Noncash stock compensation

Share of income of equity investment

Lease expense

Deferred tax expense (benefit)

Share of (income) loss of equity investment

Noncash lease expense

Deferred tax benefit

Change in fair value of derivatives

7 unchanged sentences

Proceeds from sale of short-term investments

Purchase of property, equipment and leasehold improvements

Purchase of property, equipment and leasehold

Payment for intangible assets acquired

Purchase of equity investment

Net cash used in investing activities

Net cash provided by (used in) investing activities

Cash flows from financing activities:

Repayment of long-term debt

Proceeds from loans payable, bank

Proceeds from issuance of long-term debt

Repayment of long-term debt

Proceeds from exercise of options

Purchase of subsidiary shares from noncontrolling

Dividends paid

Dividends paid to noncontrolling interests

Purchase of subsidiary shares from noncontrolling interests

Net cash provided by (used in) financing activities

Purchase of treasury stock

Net cash (used in) provided by financing activities

Effect of exchange rate changes on cash

Net increase (decrease) in cash and cash equivalents

Cash and cash equivalents – beginning of year

Net decrease in cash and cash equivalents

Cash and cash equivalents – beginning

Cash and cash equivalents – end of year

1 unchanged sentence

Cash paid for:

See accompanying notes to consolidated financial statements.

INTER PARFUMS, INC.

accompanying notes to consolidated financial statements.

PARFUMS, INC.

AND SUBSIDIARIES

Notes to Consolidated Financial Statements

December 31, 2022, 2021 and 2020

(In thousands except share and per share

(1) The Company and its Significant Accounting Policies

Business of the Company

Inter Parfums, Inc.

and its subsidiaries

(the “Company”) are in the fragrance business and manufacture and distribute a wide array of fragrances and fragrance

What changed 10-K

Item 9A. Controls and Procedures