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

Contract Categories: Human Resources › Compensation Agreements
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 payments for attending extra board and committee meetings. Committee chairs receive an extra $15,000 annually. Each director is also granted restricted stock valued at $105,000 per year, which vests over three years. The agreement specifies the structure and timing of these payments and stock grants.

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EX-10.20 3 a2191378zex-10_20.htm EXHIBIT 10.20
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Exhibit 10.20


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 $15,000

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 10.20
TRUE RELIGION APPAREL, INC. SUMMARY OF BOARD OF DIRECTORS COMPENSATION