Document:

trueexh_10-2.htm

  

Exhibit 10.1

TRUE RELIGION APPAREL, INC.

 

April 17, 2013

 

Lynne Koplin

 

Re: Amendment No. 6 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, September 28, 2012, November 2, 2012, and February 26, 2013 (the “Agreement”). All capitalized terms used herein and not otherwise defined shall have the meanings given to such terms in the Agreement.

 

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

 

	
1.  

	
Section 2(a) is hereby amended to read in full as follows:

 

	
(a)  

	
Executive shall serve TRA as its President, and shall report directly to the Chief Executive Officer of TRA (the “CEO”) or, if the CEO position is vacant, the Board of Directors of TRA.

 

	
2.  

	
Add the following to the end of Section 2(c):

 

In addition to her role as President of TRA, Executive shall serve TRA as its Interim Chief Executive Officer (the “Interim CEO”) from March 19, 2013 until such time as the Board notifies Executive that she shall no longer serve in such capacity, after which time she shall continue in her role as President of TRA. Notwithstanding the foregoing, during the period that Executive serves as Interim CEO, she will be entitled to a $20,000 per month stipend (pro-rated for partial months) in addition to the compensation payable to her pursuant to Section 4 below.

 

	
3.  

	
The Initial Termination Date, as defined in Section 3, is amended to be June 1, 2014.

 

	
4.  

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

 

	
5.  

	
The last sentence in Section 3 of the Agreement is hereby deleted in its entirety and replaced with the following:

 

If (x) TRA elects not to so extend the term of this Agreement by notifying Executive, in writing, of such election as aforesaid and (y) Executive’s employment by TRA is terminated during the 90-day period following the expiration of the Employment Period by Executive (with or without Good Reason) or by TRA without Cause, then Executive shall be entitled to receive,

  

  

  

subject to Section 9(a)(vi), the severance compensation and other benefits set forth in Section 9(a)(i)-(v) as if such termination were made by TRA without Cause. For purposes of the preceding sentence, the Date of Termination shall be the effective date of the termination of Executive’s employment by TRA as noticed in writing by TRA or Executive during the 90-day period following the expiration of the Employment Period. If Executive’s employment continues beyond such 90-day period, Executive shall not be entitled to any severance compensation or benefits on the subsequent termination of Executive’s employment under this Agreement.

 

	
6.  

	
Section 9(a)(i)(B) and Section 9(a)(iv) 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) if such termination is due to the occurrence of any of the events listed in the definition of Good Reason.

 

	
7.  

	
Add a new Section 9(d) as follows and renumber accordingly:

 

(d)   Resignation Following Appointment of a New Chief Executive Officer. In order to induce Executive to continue her employment with TRA during any transition in the management of TRA, if during the period commencing April 17, 2013 through May 30, 2014, the Board appoints a new Chief Executive Officer (other than Executive) and Executive resigns Executive’s position within ninety (90) days thereafter with or without Good Reason, then Executive shall be entitled to receive, subject to Section 9(a)(vi), the severance compensation and other benefits set forth in Section 9(a)(i)-(v) as if such termination were made by TRA without Cause.

 

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 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 Koplintrueexh_10-2.htm

  
 

Exhibit 10.2

TRUE RELIGION APPAREL, INC.

 

 

April 17, 2013

 

Peter F. Collins

 

Re: Amendment No. 1 to Employment Agreement

 

Dear Mr. Collins:

 

Reference is made to that certain Employment Agreement, dated August 16, 2010, by and between Peter F. Collins (“you”) and True Religion Apparel, Inc. (the “Company”) (the “Agreement”).  All capitalized terms used herein and not otherwise defined shall have the meanings given to such terms in the Agreement.

 

The Company and you hereby agree to amend the agreement to delete the last sentence in Section 3 of the Agreement in its entirety and replace it with the following:

 

If (x) TRA elects not to so extend the term of this Agreement by notifying Executive, in writing, of such election as aforesaid and (y) Executive’s employment by TRA is terminated during the 90-day period following the expiration of the Employment Period  by Executive (with or without Good Reason) or by TRA without Cause, then Executive shall be entitled to receive, subject to Section 9(a)(vi), the severance compensation and other benefits set forth in Section 9(a)(i)-(v) as if such termination were made by TRA without Cause.  For purposes of the preceding sentence, the Date of Termination shall be the effective date of the termination of Executive’s employment by TRA as noticed in writing by TRA or Executive during the 90-day period following the expiration of the Employment Period.  If Executive’s employment continues beyond such 90-day period, Executive shall not be entitled to any severance compensation or benefits on the subsequent termination of Executive’s employment under this Agreement.

 

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 Chief Financial Officer 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 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.

 

[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/ Peter F. Collins

Peter F. CollinsExhibit 10.1

  

 SUBSCRIPTION AGREEMENT
 

 By the execution of this Subscription Agreement, the undersigned, ____________________________________________________________________________, address _______________________________________________________________________ hereby subscribes for ________________number of shares of the Company’s Common Stock at 
 $.10 per share (the “Common Shares”) of Barking Applications Corporation, a Nevada corporation (the "Company").   
 

 1.
 To induce the Company to accept this subscription, the undersigned agrees that, within 10 days after receipt of a written request from the Company, the undersigned will provide such information and will execute and deliver such documents as may be necessary to comply with any and all laws and ordinances to which the Company is subject.
 

 2.
 The undersigned represents and warrants to the Company as follows:
 

 (a)
 All information heretofore provided by the undersigned to the Company in connection with the offering of the Shares is true, complete, and correct in all respects as of the date hereof.
 

 (b)
 No representations or warranties have been made to the undersigned by the Company or any officer, employee, shareholder, or representative of the Company, and in entering into this transaction the undersigned is not relying on any representation or warranty of any person;
 

 (c)
 The undersigned received or had access to all information that she/he, or it considers necessary or advisable to enable her/him, or it to make an informed decision concerning the Stock, including the Prospectus, and the undersigned has had an opportunity to ask questions of and receive answers from the Company or its designated representative concerning the terms and conditions of this investment, and all such questions, if any, have been answered to the full satisfaction of the undersigned;
 

 (d)
 The address set forth above is the true and correct residence of the undersigned and he, she, or it has no present intention to become a resident of any other state or jurisdiction;
 

 (e)
 The undersigned (if an individual) has adequate means of providing for his or her current needs and possible personal contingencies and he or she has no need for liquidity of his or her investment in the Stock; 
 

 (f)
 The undersigned has business or financial experience (or has retained the services of a professional advisor who is not affiliated with or compensated by the Company who has the requisite business or financial experience) such that the undersigned is capable of protecting his or her own interests in connection with the proposed purchase of Stock;
 

 (g)
 The undersigned is acquiring the Stock for his, her, or its own account for investment purposes only and not with a present view to resell or distribute it, in whole or in part; and
 

 (h)
 The undersigned is aware of and fully understands each of the following:
 

 (i)
 The Shares that will be acquired are a speculative investment and involve a substantial degree of risk that would result in the loss of his, her, or its entire investment in the Company;
 

 (ii)
 There is not a public market for the Stock, and if a public market for the Shares is not developed, the undersigned will not be able to dispose of the Stock. Accordingly, it may not be possible for the undersigned to liquidate his, her, or its investment in the Company; and
 

 4.
 The undersigned acknowledges that he/she, or it understands the meaning and legal consequences of the representations and warranties contained in Paragraphs 2 and 3 above, and that the Company and its officers, managers, employees, and agents have relied upon such representations and warranties, and he, she, or it hereby agrees to indemnify and hold harmless the Company and its officers, managers, employees, and agents from and against any and all loss, damage, or liability due to or arising out of a breach of any representation or warranty of the undersigned contained in this Subscription Agreement.
 

 5.
 Notwithstanding any of the representations, warranties, covenants, acknowledgments, or agreements made herein by the undersigned, the undersigned does not hereby or in any other manner waive any rights granted to him, her, or it under the United States federal or state securities laws.
 

 6.
 All representations, warranties, covenants, acknowledgments, and agreements contained in this Subscription Agreement, and the indemnification contained in Section 4 above, shall survive the acceptance of this Subscription Agreement by the Company.
 

 7.
 The undersigned understands that this Subscription Agreement is not binding until the Company accepts it by executing this Subscription Agreement in the space provided below, accepts payment for the subscription and the funds clear the banking process.  The Company may elect to either accept or reject this Subscription Agreement in its sole and absolute discretion.
 

 9.
 This Subscription Agreement is not transferable or assignable by the undersigned.
 

 10.
 THIS SUBSCRIPTION AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEVADA.
 

 

 IN WITNESS WHEREOF, the undersigned has executed this Subscription Agreement this ____ day of __________________, 20___.
 

 SUBSCRIBER:
 

 

 ____________________________________
 Signature of Subscriber
 

 ____________________________________
 Printed or Typed Name
 

 

 ACCEPTED this ____ day of ____________, 20___.
 

 BARKING APPLICATIONS CORPORATION
 

 By:  ________________________________________
         Raymond Kitzul, 
         Chief Executive Officer
 

 

 Method of Payment:
 

 Payment for the Stock shall be made by check  payable to “Barking Applications Corporation”  and mailed or hand delivered to:
 

 Raymond Kitzul
 Barking Applications Corporation
 5114 Lakeshore Road
 Burlington, Ontario, Canada L7L 1B9
 

 

 The entire subscription price for all Subscribed Shares must be paid at the time of subscription.     
 

 

 

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