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 retainer of $50,000, additional fees for attending board and committee meetings, and extra retainers for committee chairs. They also receive an annual grant of restricted stock valued at $115,000, which vests over three years. The policy specifies payment amounts and vesting schedules for these benefits.
Exhibit 10.11
TRUE RELIGION APPAREL, INC.
BOARD OF DIRECTORS COMPENSATION
The following table sets forth the Company’s current compensation arrangements with its non-employee directors.
| Annual Retainer: |
| $12,500 per calendar quarter ($50,000 annually) |
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| Board Meetings: |
| $1,500 for each meeting attended in excess of 10 during any calendar year |
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| Committee Meetings: |
| $1,500 per meeting ($750 if attended by telephone) |
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| Committee Chairs: |
| Audit Committee—Annual Retainer of $15,000 Compensation Committee—Annual Retainer of $15,000 |
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| Restricted Stock Grant: |
| Annual grant of restricted shares with an aggregate market value of $115,000 on the date of grant, to vest in three equal annual installments on the anniversary of the grant date. |
