Audit Committee Charter 032210

K-SWISS INC. AUDIT COMMITTEE CHARTER 1. Members. The Board of Directors of K-Swiss Inc., a Delaware corporation (the “Board”) shall appoint an Audit Committee of at least three members, consisting entirely of independent directors of the Board, and shall designate one member as chairperson or delegate the authority to designate a chairperson to the Audit Committee. For purposes hereof, the term “independent” shall mean a director who meets the independence requirements of The NASDAQ Stock Market LLC (“NASDAQ”) for directors and audit committee members, as determined by the Board. Each member of the Audit Committee must be financially literate and at least one member of the Audit Committee must have financial sophistication, each as determined by the Board, and at least one member of the Audit Committee shall be an “audit committee financial expert,” as determined by the Board in accordance with Securities and Exchange Commission (the “SEC”) rules. In addition, no Audit Committee member may have participated in the preparation of the financial statements of the Company or any of the Company’s current subsidiaries at any time during the past three years. 2. Purposes, Duties, and Responsibilities. The purposes of the Audit Committee shall be to: • represent and assist the Board in discharging its oversight responsibility relating to: (i) the accounting, reporting, and financial practices of the Company and its subsidiaries, including the ...