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The settlement agreements also come with news the Guess cofounder has vacated his post as board executive chairman.
The denim company said Monday a different firm would look into claims of misconduct by cofounder Paul Marciano.
Paul and Maurice Marciano focused on their foundation’s latest exhibitions, hours after the model took to social media to criticize Guess’ handling of an investigation into harassment claims.
The model blasted Guess for its choice of legal representation.
The denim company said the executive will remove himself from the firm’s day-to-day activities.
The board has established a committee to provide oversight on the investigation.
The model followed up on claims made last week with a detailed account of a 2010 photoshoot for Guess.
Guess has been investigating allegations against executive chairman Paul Marciano, who firmly denies any misconduct.