Cygne Designs, Inc. Non-Employee Director Compensation Policy (Effective November 29, 2005)

Summary

Cygne Designs, Inc. established a compensation policy for its non-employee directors, effective November 29, 2005. Under this policy, non-employee directors receive annual cash retainers for board and committee service, with higher amounts for audit committee members and committee chairs. Directors also receive a fee for each board or committee meeting attended and are reimbursed for expenses related to attending meetings. This policy outlines the company's commitment to compensating its non-employee directors for their service and participation.

EX-10.1 2 dex101.htm DIRECTOR COMPENSATION Director Compensation

Exhibit 10.1

DIRECTOR COMPENSATION

On November 29, 2005, the Board of Directors (the “Board”) of Cygne Designs, Inc., a Delaware corporation (the “Company”), approved the following cash compensation for the Company’s non-employee directors, which became effective as of November 29, 2005:

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payment of a $8,000 annual retainer to each director;

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payment of a $4,000 annual retainer to the members of each committee of the Board other than the audit committee;

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payment of a $8,000 annual retainer to the members of the audit committee;

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payment of a $2,000 annual retainer to the chair of each committee of the Board other than the chair of the audit committee;

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payment of a $4,000 annual retainer to the chair of the audit committee; and

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payment of a $1,000 meeting fee payable for each Board meeting and meeting of a committee of the Board attended.

Directors will also be reimbursed for expenses actually incurred in attending Board, shareholder and committee meetings.

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