How to redirect xargs output to individual files

How to batch execute a command to a specific set of files inside a directory and redirect the output of each run to an individual file.

ls *.264 | xargs -t -I{} sh -c "./ldecod.exe -i '{}' -o /dev/null > 'out{}.txt'"

The first ls *.264 will list all .264 files and pipe them to xargs which will execute the ./ldecod.exe replacing '{}' by each element from the ls *.264

source: http://stackoverflow.com/questions/845863/how-to-use-in-an-xargs-command