American Apparel Inc. said Monday it has entered an agreement with shareholder Jeffrey Kolb, by which he will withdraw his intended board nominees.

In turn, the retailer agreed to form an advisory committee that will "provide insights, guidance and strategic input" for the company's chief executive officer that will potentially be led by one of Mr. Kolb's former nominees, according to the company's filing with the Securities and Exchange Commission.

Last month Mr. Kolb, a former employee who owns a small percentage of the retailer's shares, said he intended to nominate two candidates as directors. American Apparel said Monday that Mr. Kolb has agreed to withdraw the nominees. In exchange, the company will form the committee to advise the company's chief executive and "use reasonable efforts" to identify a new independent director to fill a vacancy before its 2016 annual meeting.

Gene Montesano, a co-founder of Lucky Brand jeans and one of the candidates proposed by Mr. Kolb, will head the new advisory committee if he is willing and able to, according to the filing.

Separately on Monday, the retailer said former Chief Executive Dov Charney agreed to a temporary restraining order granted by a Delaware court last week. The order prevents Mr. Charney from trying to remove any of the fashion retailer's board members and restrains him from making or prompting any statements that disparage the company or its current, former or future employees, according to the company.

Mr. Charney, who was terminated in December following allegations of misconduct and of violating company policy, filed action against American Apparel last week—the latest in a string of lawsuits the former executive has filed against his former employer. Mr. Charney is seeking advancement of fees and expenses incurred in defending himself against American Apparel's allegations.

Write to Lisa Beilfuss at lisa.beilfuss@wsj.com

Access Investor Kit for American Apparel, Inc.

Visit http://www.companyspotlight.com/partner?cp_code=P479&isin=US0238501003

Subscribe to WSJ: http://online.wsj.com?mod=djnwires