Document:

exhibit_10-2true.htm

  
Exhibit 10.2

 

TRUE RELIGION APPAREL, INC.

November 28, 2012

Jeffrey Lubell

c/o Jeffer Mangels Butler & Mitchell LLP

1900 Avenue of the Stars, 7th Floor

Los Angeles, California 90067

Re:           Amendment to Employment Agreement

Dear Mr. Lubell:

Reference is made to that certain Employment Agreement, dated January 4, 2006, by and between Jeffrey Lubell (“you”) and True Religion Apparel, Inc. (the “Company”), as amended on May 31, 2006, September 12, 2008 and September 28, 2012 (the “Agreement”).  Capitalized terms used herein and not otherwise defined shall have the meanings set forth in the Agreement.

The Company and you hereby agree that the execution of this letter agreement by the parties hereto shall effectively amend Section 1 of the Agreement to state that:

	
(i)  

	
the current term of the Agreement, which commenced on March 31, 2010, shall end on June 30, 2013 (the “Expiration Date”), rather than March 31, 2013;

	
(ii)  

	
the Agreement shall be automatically extended for three additional years on the Expiration Date, rather than March 31, 2013, and on each subsequent three-year anniversary of the Expiration Date, rather than the three-year anniversary of the Initial Termination Date, unless either party elects not to so extend the term of the Agreement by notifying the other party, in writing, of such election not less than 120 days prior to the expiration date of the term then in effect (for the avoidance of doubt, as a result of the foregoing, the date by which either party hereto must give notice of an election not to extend the current term of the Agreement shall be March 2, 2013, which date is 120 days prior to the Expiration Date); and

	
(iii)  

	
in the event the Company elects not to extend the term of the Agreement beyond the Expiration Date, you shall not be entitled to any payments as might be the case in connection with a termination of the Agreement; provided, however, that, at the time when your Annual Bonus would otherwise be payable pursuant to Section 2(b)(ii) of the Agreement for the Company’s fiscal year 2013, you shall, if the applicable performance goals established by the Compensation Committee, if any, are satisfied, be paid, in accordance with Section 2(b)(ii) of the Agreement, an Annual Bonus in an amount equal to the product of (x) the amount of the Annual Bonus to which you would have been entitled if your employment had not expired on the Expiration Date, and (y) a fraction, the numerator of which is the number of days in the Company’s fiscal year 2013 through the Expiration Date and the denominator of which is the total number of days in such fiscal year.

The intention of this letter agreement is solely to amend the Agreement as set forth above.  All other terms and conditions of the Agreement shall remain in full force and effect.  Accordingly, the amount of any Annual Bonus and any target performance goals for the Company’s fiscal year 2013 shall be determined by the Compensation Committee, in its sole discretion, in accordance with Section 2(b)(ii) of the Agreement. For the avoidance of doubt, nothing in this letter agreement shall (a) alter or impact in any way the authority of the Compensation Committee to determine, in its sole discretion, any target

  

  

  

performance goals for the Company or any Annual Bonus to which you may become entitled or the process in which the Compensation Committee makes any such determination, (b) obligate the Compensation Committee to establish any target performance goals for the Company or any minimum Annual Bonus nor (c) entitle you to or give you any right or interest in any Annual Bonus, in each case, other than in accordance with Section 2(b)(ii) of the Agreement.

In addition, following execution of this letter agreement, you shall maintain your title and authority as Chairman, Chief Executive Officer and Creative Director of the Company and you and the Company shall be expected to continue fulfilling all of your and our respective duties and responsibilities in accordance with the Agreement.  You acknowledge that the Company cannot provide any assurances at this time as to whether it will extend the current term of the Agreement or elect not to so extend. You represent and warrant to the Company that you have had an opportunity to review this letter agreement with independent legal counsel, and have executed this letter agreement based upon your own judgment and advice of your independent legal counsel.

IN WITNESS WHEREOF, the undersigned have executed this letter agreement as of the date first written above.

 

 

	 	True Religion Apparel, Inc.	 
	 	 	 	 
	
/s/ Jeffrey Lubbell

	
By: 

	/s/ Seth R. Johnson	 
	Jeffrey Lubbell 	Name: 	Seth R. Johnson	 
	 	Title: 	Lead Directorexhibi_10-3true.htm

  
Exhibit 10.3

TRUE RELIGION APPAREL, INC.

September 28, 2012

Lynne Koplin

Re:      Amendment to Employment Agreement

Dear Ms. Koplin:

Reference is made to that certain Employment Agreement, dated December 16, 2009, by and between Lynne Koplin (“you”) and True Religion Apparel, Inc. (the “Company”), as amended on August 13, 2010 and October 27, 2011 (the “Agreement”).

The Company and you hereby agree to amend the Agreement such that the reference to “ninety (90) days” in Section 3 of the Agreement is hereby deleted in its entirety and replaced with “sixty (60) days”.

The intention of this letter agreement is solely to extend by 30 days the date by which notice of election not to extend must be given by either party under Section 3 of the Agreement.  All other terms and conditions of the Agreement, including the expiration date of the current term of the Agreement, shall remain in full force and effect.  Therefore, following execution of this letter agreement, you shall maintain your title and authority as President of the Company and you and the Company shall be expected to continue fulfilling all of your and our respective duties and responsibilities in accordance with the Agreement.  You acknowledge that the Company cannot provide any assurances at this time as to whether it will extend the term of the Agreement or elect not to so extend. You represent and warrant to the Company that you have had an opportunity to review this letter agreement with independent legal counsel, and have executed this letter agreement based upon your own judgment and advice of your independent legal counsel (if sought).

IN WITNESS WHEREOF, the undersigned have executed this letter agreement as of the date first written above.

 

 

 

	 	True Religion Apparel, Inc.	 
	 	 	 	 
	
 

	
By: 

	/s/ Seth R. Johnson	 
	 	Name: 	Seth R. Johnson	 
	 	Title: 	Lead Director	 
	 	 	 	 

 

ACCEPTED AND AGREED TO:

/s/ Lynne Koplin                                                                

Lynne Koplinexhibit_10-4true.htm

  
 

Exhibit 10.4

 

TRUE RELIGION APPAREL, INC.

November 2, 2012

Lynne Koplin

Re:  Amendment to Employment Agreement

Dear Ms. Koplin:

Reference is made to that certain Employment Agreement, dated December 16, 2009, by and

between Lynne Koplin (“you”) and True Religion Apparel, Inc. (the “Company”), as amended on August 13, 2010, October 27, 2011, and September 28, 2012 (the “Agreement”).

The Company and you hereby agree to amend the Agreement as follows:

	
1.  

	
 Section 3 of the Agreement is hereby amended to provide that Executive’s employment shall be for a term ending on April 1, 2013 (the “Initial Termination Date”)”.

	
2.  

	
Section 9(a)(i)(B) and Section 9(a)(iv) of the Agreement are hereby amended to provide that if you terminate your employment with the Company for Good Reason at any time on or prior to the Initial Termination Date, you will be entitled to the payment of the Severance Amount provided for in Section 9(a)(i)(B) and the vesting of the Annual Equity Awards granted to you as provided in Section 9(a)(iv) only if such termination is due to the occurrence of the events listed in Section 8(b)(i)(B) or 8(b)(i)(C) and not the events listed in Section 8(b)(i)(A) or Section 8(b)(i)(D).

The intention of this letter agreement is to extend the initial term of the Agreement through April 1, 2013 and amend the severance and vesting benefits provided to you upon termination of employment for Good Reason during such initial term as set forth above. All other terms and conditions of the Agreement shall remain in full force and effect. Therefore, following execution of this letter agreement, you shall maintain your title and authority as President of the Company and you and the Company shall be expected to continue fulfilling all of your and our respective duties and responsibilities in accordance with the Agreement. You acknowledge that the Company cannot provide any assurances at this time as to whether it will extend the term of the Agreement or elect not to so extend. You represent and warrant to the Company that you have had an opportunity to review this letter agreement with independent legal counsel, and have executed this letter agreement based upon your own judgment and advice of your independent legal counsel

[Signatures Continue on the Next Page]

  

  

  

 

IN WITNESS WHEREOF, the undersigned have executed this letter agreement as of the date first written above.

True Religion Apparel, Inc.

 

By:  /s/ Seth R. Johnson

Name: Seth R. Johnson

Title: Lead Director

ACCEPTED AND AGREED TO:

/s/ Lynne Koplin

Lynne Koplinex44.htm

Exhibit 4.4

ACKNOWLEDGEMENT OF SURRENDER AND CANCELATION

OF SERIES A PREFERRED STOCK

WHEREAS Bill Hodson and Brad Nichols each own 500,000 shares of the Series A Preferred Stock of LiveWire Ergogenics Inc. (formerly, SF Blu Vu, Inc.), a Nevada corporation (the “Corporation”).

WHEREAS Bill Hodson and Brad Nichols desire to surrender their shares of Series A Preferred Stock for cancelation by the Corporation.

NOW THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is acknowledged:

Bill Hodson hereby surrenders 500,000 shares of the Series A Preferred Stock to the Corporation for cancellation.

Brad Nichols hereby surrenders 500,000 shares of the Series A Preferred Stock to the Corporation for cancellation.

IN WITNESS HEREOF, the parties acknowledge their agreement to the foregoing terms by their signatures below to be effective as of December 4, 2012.

 

	 	 	 
	 	 	 
	 	

/s/ Bill Hodson

	 
	 	Bill Hodson	 
	 	 	 
	 	 	 
	 	/s/ Brad Nichols	 
	 	Brad Nichols	 
	 	 	 
	 	 	 

Approved and Accepted

LiveWire Ergogenics, Inc.

By: /s/ Richard O. Weed

Name: Richard O. Weed

Title: Secretary

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