By  on March 27, 2012

Dov Charney has signed a new three-year employment agreement with American Apparel Inc.

The founder, chairman and chief executive officer of the debt-laden specialty retailer will receive a minimum base salary of $800,000 a year, subject to annual increases by the compensation committee, for a three-year term that begins April 1. Charney is eligible to receive incentive bonuses with a target of 150 percent of his base salary, tied to a number of metrics, including total sales; earnings before interest, taxes, depreciation and amortization (EBITDA); net debt, and inventory levels.

 

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