True Religion Apparel, Inc. Summary of Board of Directors Compensation

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Summary

This document outlines the compensation plan for non-employee directors of True Religion Apparel, Inc. Directors receive an annual retainer of $50,000, with additional fees for attending extra board and committee meetings. Committee chairs receive extra annual retainers, and all non-employee directors are granted restricted stock valued at $105,000 each year, which vests over three years. The agreement specifies payment amounts and vesting schedules but does not include other employment terms or benefits.

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EX-10.14 2 a2197136zex-10_14.htm EXHIBIT 10.14
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Exhibit 10.14


TRUE RELIGION APPAREL, INC.
SUMMARY OF 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)

Board Meetings:
 
$1,500 for each meeting attended in excess of 10 during any calendar year

Committee Meetings:
 
$1,500 per meeting ($750 if attended by telephone)

Committee Chairs:
 
Audit Committee—Annual Retainer of $15,000
Compensation Committee—Annual Retainer of $7,500

Restricted Stock Grant:
 
A grant of restricted shares annually on the first business day of the calendar year with an aggregate market value of $105,000. To vest in three equal annual installments on the date of grant, the first anniversary of the date of grant and the second anniversary of the date of grant.


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    Exhibit 10.14
TRUE RELIGION APPAREL, INC. SUMMARY OF BOARD OF DIRECTORS COMPENSATION