True Religion Apparel, Inc. Board of Directors Compensation Policy
This document outlines the compensation policy for non-employee directors of True Religion Apparel, Inc. Directors receive an annual cash retainer of $100,000, paid quarterly. Additional annual retainers are provided to the Board Lead Director ($100,000), Audit Committee Chair ($15,000), and Compensation Committee Chair ($15,000). Non-employee directors also receive an annual grant of restricted stock valued at $135,000, which vests in three equal installments over three years.
Exhibit 10.11
TRUE RELIGION APPAREL, INC.
BOARD OF DIRECTORS COMPENSATION
The following table sets forth the Companys current compensation arrangements with its non-employee directors.
Annual Retainer: |
| $25,000 per calendar quarter ($100,000 annually) |
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Committee Chairs: |
| Board Lead Director Annual Retainer of $100,000 |
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Restricted Stock Grant: |
| Annual grant of restricted shares with an aggregate market value of $135,000 on the date of grant, to vest in three equal annual installments on the anniversary of the grant date. |