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TRLG > SEC Filings for TRLG > Form 8-K on 20-Mar-2013All Recent SEC Filings

Show all filings for TRUE RELIGION APPAREL INC | Request a Trial to NEW EDGAR Online Pro



Change in Directors or Principal Officers

Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain
Officers; Compensatory Arrangement of Certain Officers.

(b) On March 19, 2013, the Company announced that Jeff Lubell had decided to step down as Chairman, Chief Executive Officer and Creative Director and that his employment with the Company terminated at such time. Mr. Lubell has agreed to serve as Chairman Emeritus and as a creative consultant to the Company for a period of two years.

(c) On March 19, 2013, the Board of Directors of the Company appointed Lynne Koplin to serve in the position of Interim Chief Executive Officer of the Company, along with her current position as President of the Company. In addition, Ms. Koplin was also designated to serve as the Company's Principal Executive Officer during the period that she serves as Interim Chief Executive Officer. Ms. Koplin, age 56, joined the Company in January 2010 as Chief Operating Officer and assumed her current position as President in August 2011. Prior to joining the Company, Ms. Koplin served as president of the women's division of Tommy Bahama, Inc., a maker of luxury lifestyle clothing and accessories from July 2005 to December 2009. From April 1999 to June 2005, Ms. Koplin served as President and Chief Executive Officer of Apparel Ventures, Inc., a manufacturer and marketer of branded women's swimwear. Ms. Koplin's additional experience includes executive-level roles at Authentic Fitness, a division of Warnaco, and Cole of California.

There are no family relationships between Ms. Koplin and any of the directors and other executive officers of the Company. Ms. Koplin and the Company are parties to an Employment Agreement, dated January 4, 2010, as amended. No new compensatory arrangements were entered into with Ms. Koplin in connection with her appointment as Interim Chief Executive Officer.

Mr. Lubell received a severance payment and other benefits as provided for in his existing Employment Agreement. In addition Mr. Lubell and the Company entered into a consulting agreement providing for consulting payments in the amount of $1 million for each year during the two year consulting period. Substantially all other obligations under the existing Employment Agreement were terminated. There were no other severance or compensatory arrangement entered into with Mr. Lubell.

A copy of the press release announcing the foregoing is attached hereto as Exhibit 99.1 and incorporated by reference herein.

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