THE CORPORATE LIBRARY

Related Party Transactions and Outside Related Director Information

Volcom, Inc. (VLCM)

3/31/2006 Proxy Information

Former Consulting Arrangement

Since July 1, 2005, our Chairman, René Woolcott, has been paid as one of our officers with an annual salary of $100,000 from July 1, 2005 to December 31, 2005 and $120,000 since January 1, 2006. Prior to that time, Mr. Woolcott provided business and management services to us on a consulting basis through Clarendon House Advisors, Ltd., of which Mr. Woolcott is the Chairman and President. We paid Clarendon House $175,760, $306,727, and $201,352 in 2005, 2004 and 2003, respectively. We believe the payments for these services were reasonable and no less favorable to us than terms that would have been obtainable from an unaffiliated third party.

Indemnification Agreements

We have entered into indemnification agreements with our executive officers and directors containing provisions that may require us, among other things, to indemnify them against certain liabilities that may arise by reason of their status or service as executive officers or directors.