Document:

Form of Tax Indemnification Agreement

 Exhibit 10.19 
 S CORPORATION TERMINATION, TAX ALLOCATION AND 
 INDEMNIFICATION AGREEMENT

 This Termination, Tax Allocation and Indemnification Agreement, dated as of
            , 2011 (the “Agreement”), is made by and among World of Jeans & Tops, a California corporation (the “Company”), Tilly’s, Inc., a
Delaware corporation (“Tilly’s”) and the persons identified on the signature pages hereto who constitute all of the shareholders of the Company on the date hereof (each individually, a “Shareholder,” and
collectively, the “Shareholders”). 
 RECITALS: 

A. The Company is an S corporation within the meaning of section 1361 of the Internal Revenue Code of 1986, as amended (the
“Code”). 
 B. Tilly’s intends to enter into an underwriting agreement to sell shares of its common stock
to the public in an initial public offering registered under the Securities Act of 1933, as amended (the “Public Offering”). 
 C. Prior to the Public Offering, the Shareholders will contribute their shares in the Company to Tilly’s, the Company will become a wholly owned subsidiary of Tilly’s, and the Company’s
status as an S corporation will terminate. 
 D. The Shareholders are currently the only shareholders of the Company, and will
continue to be so until immediately before the contribution of their shares to Tilly’s. 
 E. In connection with the Public
Offering, and in order to induce the investment by the public in the Company, the Company and the Shareholders desire to provide for the termination of the Company’s status as an S corporation and a tax allocation and indemnification agreement
in connection with tax periods prior to and following the Termination Date (as defined below), as well as the other agreements set forth herein. 
 AGREEMENT: 
 NOW, THEREFORE, for mutual consideration, the receipt and
sufficiency of which are hereby acknowledged, Tilly’s, the Company and the Shareholders do hereby covenant and agree as follows: 
 ARTICLE 1 
 DEFINITIONS 

The following terms, as used herein, have the following meanings: 

“AAA” shall have the meaning assigned to that term by Section 1368(e)(1) of the Code. 

“Closing” shall mean the closing and completion of the offering by Tilly’s of shares of its stock, as described in
the Form S-1 Registration Statement initially filed by Tilly’s with the Securities and Exchange Commission on July 1, 2011. 
 “Code” shall have the meaning set forth in Recital A. 

“C Short Year” shall have the meaning set forth in Section 1362(e)(1)(B) of the Code. 

 “Highest Rate” shall mean the highest marginal U.S. federal, state and
local income tax rate applicable to individuals for the taxable year to which such taxable income relates. 

“Post-Termination Distribution” shall mean a cash distribution during the Post-Termination Transition Period as set
forth in Section 1371(e) of the Code to the extent it does not exceed the AAA. 
 “Public Offering” shall
have the meaning set forth in Recital B. 
 “Regulations” means the Treasury Regulations promulgated under the
Code. 
 “S corporation” shall have the meaning set forth in Section 1361 of the Code. 

“S corporation Taxable Income” shall mean, for periods beginning on or after the date the Company became an S
corporation and ending with the close of the last day of the S Short Year, the sum of (i) the Company’s items of separately stated income and gain (within the meaning of Section 1366(a)(1)(A) of the Code) reduced, to the extent
applicable, by the Company’s separately stated items of deduction and loss (within the meaning of Section 1366(a)(1)(A) of the Code) and (ii) the Company’s non-separately computed net income (within the meaning of
Section 1366(a)(l)(B) of the Code). 
 “S Short Year” shall have the meaning set forth in
Section 1362(e)(1)(A) of the Code. 
 “S Termination Year” shall have the meaning set forth in
Section 1362(e)(4) of the Code. 
 “Tax Proceeding” shall have the meaning set forth in Section 4.2.

 “Termination Date” shall mean the date on which the Company’s status as an S corporation is terminated
by reason of the contribution of the Company’s stock to Tilly’s by the Shareholders in exchange for Class B common stock of Tilly’s, which date shall not be later than the pricing date for the Public Offering. 

ARTICLE 2 

THE TERMINATION; TERMINATION PAYMENTS 
 2.1. Termination of S Corporation Status. The Company’s status as an S corporation shall terminate pursuant to Section 1362(d)(2) of the Code upon the Shareholders’ contribution of
their stock in the Company to Tilly’s on the Termination Date. 
 2.2. Termination Payments to Shareholders.
Immediately prior to the Termination Date, the Company shall determine the estimated AAA amount of the Company and also distribute to the Shareholders (pro rata in accordance with the relative number of shares of stock of the Company held by each
Shareholder) an amount equal to $        (the “Distribution Amount”). Such distribution shall take the form of a promissory note, one to each Shareholder, of the Company in the form set forth
as Exhibit A. For purposes of this Section 2.2, the estimated AAA shall be determined by the Company in accordance with the Company’s books and records and consistent with Section 1368 of the Code and Regulations. As soon as
reasonably practicable, the Company shall send a notice to shareholders of the final AAA. 
 2.3 Payments Related to Future
Adjustments. In the event that any future examination of any tax return by any taxing authority results in a final determination increasing the taxable income of the Company for any year during which the Company qualified as an S corporation,

  
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including the S Short Year, Tilly’s or the Company shall distribute to the Shareholders (pro rata in accordance with the relative number of shares of stock of the Company held by each
Shareholder at the time of the Termination Date) within 30 days of such final determination, cash in an amount equal to (i) the product of (A) the amount of increase in taxable income resulting from the adjustment and (B) the Highest
Rate plus (ii) any interest and penalties imposed thereon. 
 ARTICLE 3 

ALLOCATION OF INCOME 
 3.1. Short Taxable Years. The parties acknowledge that the taxable year in which the S corporation status of the Company is terminated will be an “S Termination Year” for tax purposes, as
defined in Section 1362(e)(4) of the Code. Pursuant to Section 1361(e)(1) of the Code, the S Termination Year of the Company shall be divided into two short taxable years: an “S Short Year” and a “C Short Year.” As
defined in Section 1362(e)(1)(A) of the Code, the S Short Year shall be that portion of the Company’s S Termination Year ending on the day immediately preceding the Termination Date. Pursuant to Section 1362(e)(1)(B) of the Code, that
portion of the S Termination Year beginning on the Termination Date and ending on the last day of the taxable year shall be the C Short Year of the Company. 
 3.2. Closing of the Books. Tilly’s, the Company and the Shareholders agree that for tax purposes (including for purposes of determining the Company’s S corporation Taxable Income for its
S Short Year) the Company shall allocate its items of income, gain, loss, deduction and credit for its calendar year between the S Short Year and the C Short Year in accordance with normal tax accounting rules (the so-called “closing of the
books method”), as permitted by Section 1362(e)(3) of the Code. The Company will make the election permitted by Section 1362(e)(3) in a timely manner. Tilly’s, the Company and the Shareholders agree to consent to such election
and to provide the Company with the statement of consent of Tilly’s and all Shareholders described in Section 1.1362-6(b) of the Treasury Regulations. Tilly’s, the Company and the Shareholders agree to make, and to provide such
information and obtain such consents as are necessary to make, any comparable election required under applicable state and local income tax laws. 
 ARTICLE 4 
 TAX MATTERS 

4.1. Liability for Taxes Incurred During the S Short Year and for Tax Periods Ending Prior to the Termination Date. Each
Shareholder, severally and not jointly, covenants and agrees that: (i) such Shareholder has duly included, or will duly include, in such Shareholder’s own federal, state, and local income tax returns such Shareholder’s respective
allocable shares of all items of income, gain, loss, deduction, or credit attributable to the S Short Year of the Company, (ii) such returns shall, to the extent required by applicable law, include such Shareholder’s allocable share of S
corporation Taxable Income of the Company from all sources through and including the close of business on the last day of the S Short Year of the Company, and (iii) such Shareholder shall, to the extent required by applicable law, pay any and
all taxes such Shareholder is required to pay, as a result of being a Shareholder of the Company, for all taxable periods (or that portion of any period) during which the Company was an S corporation. 

  
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 4.2. Shareholder Indemnification for Tax Liabilities. The Shareholders, severally
(according to the relative percentage of the outstanding shares of Company common stock owned by each Shareholder on the last day of any applicable period to which a liability described below relates) and not jointly, each hereby indemnify and hold
the Company harmless from, against and in respect of any unpaid income tax liabilities of the Company (including interest and penalties imposed thereon) (i) which are attributable to the S Short Year and the primary liability of the
Shareholders, or (ii) which are incurred by the Company as a result of a final determination of an adjustment (by reason of an amended return, claim for refund, audit, judicial decision or otherwise (each, a “Tax Proceeding”))
to the taxable income of the Shareholders for any period, including the S Short Year or thereafter, which (in the case of this clause (ii)) results in a decrease for any period in the Shareholders’ taxable income and a corresponding increase
for any period in the taxable income of the Company. 
 4.3. Company Indemnification for Tax Liabilities. Tilly’s
and the Company hereby indemnify and agree to hold the Shareholders harmless from, against and in respect of income tax liabilities (including interest and penalties imposed thereon), if any, incurred by the Shareholders as a result of a final
determination of an adjustment (by reasons of a Tax Proceeding) to the taxable income of the Company for any period ending after the Termination Date (including, without limitation, the C Short Year) which results in an increase for any period in
the taxable income of the Shareholders. Tilly’s or the Company shall distribute cash in an amount equal to (i) the product of (A) the amount of such increase in the taxable income resulting from the final determination and
(B) the Highest Rate plus (ii) any interest and penalties imposed thereon. 
 4.4. Payments. The Shareholders
or Tilly’s/the Company, as the case may be, shall make any payment required under Sections 4.2 and 4.3 of this Agreement within 30 days after receipt of notice from the other party that a final determination has occurred and a payment is due by
such party to the appropriate taxing authority. 
 4.5. Refunds. If the Company receives a refund of any income tax
(including penalties and interest) for any period prior to the Termination Date, or as to which it has previously been indemnified by the Shareholders, the Company shall pay an amount equal to such refund, within 30 days after receipt thereof, to
the Shareholders in accordance with the percentage of the outstanding shares of Company common stock owned by each such Shareholder on the last day of any applicable period to which the refund relates. If the Shareholders receive a refund of any
income tax (including penalties and interest) as to which they have previously been indemnified by Tilly’s or the Company, they shall, within 30 days after receipt thereon, remit an amount equal to such refund to Tilly’s or the Company, as
appropriate (for the avoidance of doubt, such refund shall be determined assuming the Shareholders’ only items of income, loss or deduction would arise from the Company during the S Short Year). 

4.6. Notice and Control of Tax Proceedings. Each of the Company and the Shareholders agree that within 10 days of receiving
written notice of any Tax Proceeding or related matters that may affect in any way the income tax liability of a party under this Agreement, such person shall provide written notice thereof to such each other party hereto. Tilly’s and the
Company shall be entitled to handle, control and compromise or settle the defense of any such Tax Proceeding involving the Company, and each Shareholder shall be entitled to handle, control and compromise or settle the defense of any such Tax
Proceeding involving such Shareholder’s personal tax return. The applicable party or parties controlling the Tax Proceeding shall keep the 

  
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other party(ies) apprised of the status thereof and shall consult with such other party(ies) concerning the conduct of the defense thereof. Notwithstanding the foregoing, however, no party may
take any action that could adversely affect the tax liability of another party without such other party’s prior written consent, which shall not be unreasonably withheld. The parties hereto shall execute all instruments required to effectuate
the provisions of this Section 4.6. 
 4.7. Cooperation. The parties will make available to one another, as
reasonably requested, and to any taxing authority, all information, records or documents relating to the liability for taxes covered by this Agreement and will preserve any such information, records or documents until the expiration of the
applicable statute of limitations or extensions thereof. The party requesting such information shall reimburse the other party for all reasonable out-of-pocket costs incurred in producing such information. 

4.8. Inconsistent Reporting. If a Shareholder hereafter reports an item on such Shareholder’s income tax return in a manner
materially inconsistent with the tax treatment reflected in the Schedule K-1 or other tax information provided to the Shareholder by the Company for a taxable period during which the Company was treated as an S corporation, such Shareholder shall
notify the Company of such treatment before filing such Shareholder’s income tax return. If such Shareholder fails to notify the Company of such inconsistent reporting, such Shareholder shall be liable to the Company for any losses, costs or
expenses (including reasonable attorneys’ fees) arising from such inconsistent reporting, including an audit. 
 4.9.
Costs. Each party shall bear his or its own costs in administering this Agreement, provided, however, that Tilly’s or the Company shall reimburse the Shareholders for all reasonable and documented out-of-pocket expenses incurred by the
Shareholders in connection with an examination or proceeding described in Sections 2.3 and 4.3. 
 ARTICLE 5 

MISCELLANEOUS 
 5.1. Post-Termination Distribution. To the extent practicable and to the extent consistent with applicable law, payments or other distributions made to the Shareholders pursuant to Sections 2.3 or
4.3 will be treated as Post-Termination Distributions for U.S. federal income tax purposes. To the extent that Tilly’s or the Company’s tax return preparers determine that such payments or distributions cannot be properly treated as
Post-Termination Distributions, then the amount of any distribution made to the Shareholders pursuant to Sections 2.3 and 4.3 shall be increased by the amount of such Shareholders’ additional tax liability, if any, resulting from such payments
or distributions, as reasonably determined by Tilly’s or the Company’s tax return preparers plus an amount equal to any additional tax liability resulting from the payment pursuant to this Section 5.1, assuming that each Shareholder
pays tax at the Highest Rate. 
 5.2. Counterparts. This Agreement may be executed in counterparts, each of which shall
be deemed an original, but all of which counterparts collectively shall constitute an instrument representing the Agreement between the parties hereto. 
 5.3. Construction of Terms. Nothing herein expressed or implied is intended, or shall be construed, to confer upon or give any person, firm or corporation, other than the parties hereto or their
respective successors, any rights or remedies under or by reason of this Agreement. 
 5.4. Intent of Parties. It is the
parties’ intent that the liability for income taxes arising from the operations of the Company will be borne by the Shareholders for all periods through and 

  
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including the S Short Year and by Tilly’s and the Company for periods beginning with the C Short Year, and this Agreement shall be construed so as most equitably to achieve such intent.

 5.5. Governing Law. This Agreement between the parties hereto shall be governed by and construed in accordance with
the substantive laws of the State of Delaware without regard to its choice of law rules. 
 5.6. Severability. In the
event that any one or more of the provisions of this Agreement shall be held to be illegal, invalid or unenforceable in any respect, the same shall not in any respect affect the validity, legality or enforceability of the remainder of this
Agreement, and the parties shall use their best efforts to replace such illegal, invalid or unenforceable provisions with an enforceable provision approximating, to the extent possible, the original intent of the parties. 

5.7. Notices. Unless otherwise provided, any notice required or permitted under this Agreement shall be given in writing and shall
be deemed effectively given upon personal delivery or telecopy (receipt confirmed, with a copy to be sent by reputable overnight courier as set forth herein) to the party to be notified, or one business day after delivery to a reputable overnight
courier, postage prepaid, and addressed to the party to be notified at the address indicated for such party on the signature pages hereof, or at such other address as such party may designate by ten (10) days, advance written notice to the
other parties. 
 5.8. Amendments and Waivers. Any term of this Agreement may be amended, and the observance of any term
of this Agreement may be waived (either generally or in a particular instance and either retroactively or prospectively), only with the written consent of each of the parties hereto; provided, however, that no consent of the Company shall be
effective unless approved by a majority of the disinterested members of its Board of Directors. 
 5.9. Full
Understanding. Each Shareholder represents and agrees that such Shareholder fully understands his or her right to discuss all aspects of this Agreement with such Shareholder’s own counsel, and that to the extent, if any, that the
Shareholder desired, has availed himself or herself of such right. Each Shareholder further represents that he has carefully read and fully understands all of the provisions of this Agreement, that such Shareholder is competent to execute this
Agreement, that the Shareholder’s agreement to execute this Agreement has not been obtained by any duress and that he freely and voluntarily enters into it, and that he or she has read this document in its entirety and fully understands the
meaning, intent and consequences of this document. 
 [Signature Page Follows] 

  
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 IN WITNESS WHEREOF, the parties have executed this S Corporation Termination, Tax Allocation
and Indemnification Agreement on the date first set forth above. 
  

			
	COMPANY:
	
	WORLD OF JEANS AND TOPS
	a California corporation
		
	By:	 	  

  

			
	TILLY’S:
	
	TILLY’S, INC.
	a Delaware corporation
		
	By:	 	  

	
	SHAREHOLDERS:
		
	By:	 	  

		
		 	  

  
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 EXHIBIT A 
 FORM OF PROMISSORY NOTE 
  

	 $         
	             , 2011 

1. Promise to Pay. For value received, the undersigned, a California Corporation (“Maker”), promises to pay to
        , a                      (“Payee”), on the date set forth below, or earlier as
otherwise provided herein, the principal sum of          dollars and                      cents
($        ), (the “Principal Amount”), plus interest thereon at the interest rate (as defined below) from the date hereof, until paid in full, in accordance with the terms contained herein.

 2. Definitions of Certain Terms. As used in this promissory note, certain terms shall have the meanings hereinafter
set forth: 
 2.1. “Interest Rate” shall mean
                     percent (        %) per annum. 

2.2. “Maturity Date” shall mean the date that is fifteen (15) calendar days after the date hereof. 

3. Principal and Interest Payment. Within five (5) calendar days of the maturity date set forth in section 2.2 above,
maker shall pay an amount equal to the entire unpaid principal of and all accrued and unpaid interest on this promissory note. 

4. Place and Manner of Payment. All payments under this promissory note shall be made in lawful money of the United States of
America by check to payee’s address for notices specified in section 8.1 herein or by wire transfer of funds to the account from time to time designated in writing by payee, or to such other person, via such other means of transmission or
at such other place as may be designated in writing by payee. interest due hereunder shall be computed on the basis of a three hundred sixty-five (365) day year and the actual number of days elapsed. 

5. Prepayment. The principal amount hereof may be prepaid in whole or in part at any time and from time to time without premium or
penalty, provided that all payments made hereunder shall first be applied to any accrued unpaid interest outstanding on the date of such payment, and provided further that partial prepayments of principal shall be applied to the principal balance
hereof in inverse order of maturity. 

 6. Collection Costs. Maker agrees to pay all costs of collection and enforcement when
incurred, whether or not any suit, action or proceeding is commenced, including but not limited to attorneys’ and experts’ fees and costs. if any suit, action or proceeding is instituted to collect upon or enforce this promissory note, the
holder hereof shall be entitled to recover prejudgment interest on all principal, interest and other sums due hereunder and thereunder, and maker shall pay, in addition to all costs and disbursements otherwise allowed by law, such sum as may be
fixed for attorneys’ and experts’ fees and costs in such suit, action or proceeding. 
 7. Miscellaneous.

 7.1. Notices. All notices, requests, demands and other communications which are required or may be given under this
Note shall be in writing and shall be deemed to have been duly given when received if personally delivered; when transmitted if transmitted by telecopy, electronic or digital transmission method with machine confirmation of transmission; the day
after it is sent, if sent for next day delivery to a domestic address by recognized overnight delivery service (e.g., Federal Express); and upon receipt, if sent by certified or registered mail, return receipt requested. In each case notice shall be
sent to: 
  

			
	If to Maker:	  	World of Jeans & Tops
		  	10 Whatney
		  	Irvine, California 92618
		  	Attn:    Chief Financial Officer
		  	Fax:      [                      
     ]
		
	with a copy to:	  	World of Jeans & Tops
		  	10 Whatney
		  	Irvine, California 92618
		  	Attn:    General Counsel
		  	Fax:
		
	If to Payee:	  	[                             
           ]
		  	[                             
           ]
		  	Attn:     [                       
    ]
		  	Fax:      [                      
     ]

 or to such other place and with such other copies as either party may designate by written notice to the other party.

 7.2 Amendments. No provisions of this Promissory Note may be amended, modified, supplemented, changed, waived,
discharged or terminated unless Payee consents thereto in writing specifically referring to this Promissory Note. 

  
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 7.3. Termination of S Corporation Status. In the event that Maker’s S
Corporation status is not terminated on or before                     , this Promissory Note shall be void. 

7.4. Governing Law. THIS NOTE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF CALIFORNIA, EXCEPT TO
THE EXTENT PREEMPTED BY FEDERAL LAWS. Maker hereby irrevocably submits to the non-exclusive jurisdiction of the State and Federal Courts of the State of California and consents to service of process in any legal proceeding arising out of, or in
connection with, this Promissory Note, by any means authorized by applicable law. 
 [Signature page follows] 

  
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 IN WITNESS WHEREOF, Maker has executed this Promissory Note on the date first above written.

  

			
	World of Jeans & Tops
		
	By:Form of Share Exchange Agreement

 Exhibit 10.20 
 FORM OF 
 SHARE EXCHANGE AGREEMENT 

THIS SHARE EXCHANGE AGREEMENT (this “Agreement”) is entered into as of
[                    ], 2011 by and among World of Jeans & Tops, a California corporation (“WOJT”), the shareholders of
WOJT, each of whom are listed on Schedule A hereto (each a “Shareholder,” and collectively, the “Shareholders”), and Tilly’s, Inc., a Delaware corporation (“Tilly’s”). 

WHEREAS, each Shareholder currently owns shares of common stock of WOJT as listed on Schedule A hereto. 

WHEREAS, Tilly’s was formed solely for the purpose of reorganizing the corporate structure of WOJT. 

WHEREAS, the Shareholders own all of the issued and outstanding common stock of WOJT. 

WHEREAS, the Shareholders desire to exchange their shares of common stock of WOJT for shares of Class B common stock of
Tilly’s, and Tilly’s has agreed to offer the Tilly’s Shares (as defined below) in connection with such exchange, upon the terms and conditions set forth in this Agreement. 

WHEREAS, for United States federal income tax purposes, it is intended that the Exchange (as defined below) will qualify as
an exchange under the provisions of Section 351(a) of the Code. 
 WHEREAS, following the Exchange (as defined
below), WOJT will become a wholly-owned subsidiary of Tilly’s. 
 NOW, THEREFORE, in consideration of the mutual
promises, covenants and agreements herein, and intending to be legally bound hereby, the parties agree as follows: 
  

	1.	Exchange of Shares. 

  

	 	(a)	 Exchange. On the terms and subject to the conditions set forth in this Agreement, at the Closing (i) Shareholders will sell, convey,
transfer and assign to Tilly’s, free and clear of all liens, pledges, encumbrances, changes, restrictions or known claims of any kind, nature or description, and Tilly’s will purchase and accept from Shareholders, twenty million
(20,000,000) currently issued and outstanding shares of common stock of WOJT, in the aggregate (the “WOJT Shares”), in the individual amounts as set forth on Schedule A, and (ii) in exchange for the transfer of such
securities by the Shareholders, Tilly’s will sell, convey, transfer and assign to Shareholders, and Shareholders will purchase and accept from Tilly’s, twenty million (20,000,000) shares of newly-issued shares of Class B common stock
of Tilly’s, par value $0.001, in the aggregate (the “Tilly’s Shares”), in the individual amounts as set forth on Schedule A (such exchange 

	 	
referred to herein as the “Exchange”). Upon completion of the Exchange, all of the shares of capital stock of WOJT shall be held by Tilly’s. 

 

	 	(b)	Closing. The closing of the Exchange shall occur on
[                    ], 2011 (the “Closing”). The Closing will take place at 10:00 a.m. Pacific Standard Time at the offices of
Tilly’s, 10 Whatney, Irvine, California 92618, or at such other date, time and place or manner as may be agreed upon by the parties. 

  

	 	(c)	Anti-Dilution. The Tilly’s Shares issuable upon exchange and the WOJT Shares to be exchanged pursuant to Section 1(a) shall be appropriately adjusted
to take into account any other stock split, stock dividend, reverse stock split, recapitalization, or similar change in Class B common stock of Tilly’s or common stock of WOJT, as the case may be, which may occur between the date of execution
of this Agreement and the Closing, as to the Tilly’s Shares or WOJT Shares, as the case may be. 

  

	2.	Representations and Warranties. 

  

	 	(a)	Representations and Warranties of Shareholders. Each Shareholder severally, and not jointly, hereby represents and warrants to WOJT and Tilly’s, all of
which representations and warranties are true, complete, and correct in all respects as of the date hereof and will be as of the Closing, as follows: 

  

	 	(i)	Authorization; No Restrictions, Consents or Approvals. Such Shareholder has the right, power, legal capacity and authority to enter into and perform such
Shareholder’s obligations under this Agreement; and no approvals or consents are necessary in connection with it. All of the shares of common stock of WOJT owned by such Shareholder are owned free and clear of all liens, pledges, encumbrances,
changes, restrictions or known claims of any kind, nature or description. 

  

	 	(ii)	Transfer of WOJT Shares. The shares of common stock of WOJT owned by such Shareholder will, at the Closing, be validly transferred to Tilly’s free and clear
of any encumbrances and from all taxes, liens and charges with respect to the transfer thereof and such shares of common stock of WOJT shall be fully paid and non-assessable with the holder being entitled to all rights accorded to a holder of shares
of WOJT common stock. 

  

	 	(iii)	Investment Representations. 

  

	 	(A)	 Each such Shareholder understands that the Tilly’s Shares have not been registered under the Securities Act of 1933, as amended (the
“Securities Act”) or any other applicable securities laws, including those under the California Corporations Code. Each such Shareholder also understands that the Tilly’s Shares are being offered and issued pursuant to an
exemption from the registration requirements of the Securities Act, under Section 4(2) and/or 

  
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Regulation D of the Securities Act, and of the California Corporations Code, under Section 25012(f). Each such Shareholder acknowledges that Tilly’s will rely on such Shareholder’s
representations, warranties and certifications set forth below for purposes of determining such Shareholder’s suitability as an investor in the Tilly’s Shares and for purposes of confirming the availability of the Section 4(2) and/or
Regulation D exemption from the registration requirements of the Securities Act, and of the Section 25012(f) exemption under the California Corporations Code. 

 

	 	(B)	Each such Shareholder has received all the information such Shareholder considers necessary or appropriate for deciding whether to acquire the Tilly’s Shares. Each
such Shareholder understands the risks involved in an investment in the Tilly’s Shares. Each such Shareholder further represents that such Shareholder has had an opportunity to ask questions and receive answers from Tilly’s regarding the
terms and conditions of the offering of the Tilly’s Shares and the business, properties, prospects, and financial condition of Tilly’s and WOJT and to obtain such additional information (to the extent Tilly’s or WOJT possessed such
information or could acquire it without unreasonable effort or expense) necessary to verify the accuracy of any information furnished to such Shareholder or to which such Shareholder had access. Each such Shareholder further represents that such
Shareholder is an “accredited investor” within the meaning of Rule 501(a) of the Securities Act. 

  

	 	(C)	Each such Shareholder is acquiring the Tilly’s Shares for such Shareholder’s own account for investment only and not with a view towards their resale or
“distribution” (within the meaning of the Securities Act) of any part of the Tilly’s Shares. 

  

	 	(D)	Each such Shareholder understands that the Tilly’s Shares may not be offered, sold or otherwise transferred except in compliance with the registration requirements
of the Securities Act and any other applicable securities laws or pursuant to an exemption therefrom, and in each case in compliance with the conditions set forth in this Agreement. Each such Shareholder acknowledges and is aware that the
Tilly’s Shares may not be sold pursuant to Rule 144 adopted under the Securities Act unless certain conditions are met and until such Shareholder has held the Tilly’s Shares for the applicable holding period under Rule 144.

  

	 	(E)	Each such Shareholder acknowledges and agrees that each certificate representing the Tilly’s Shares shall bear a legend substantially in the following form:

  
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	 	    	“THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), OR THE SECURITIES LAWS
OF ANY STATE. THE SECURITIES MAY NOT BE TRANSFERRED EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER SUCH ACT AND APPLICABLE STATE SECURITIES LAWS OR PURSUANT TO AN APPLICABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF SUCH ACT AND
SUCH LAWS.” 

  

	 	(iv)	No Reliance. Each such Shareholder has not relied on and is not relying on any representations, warranties or other assurances regarding Tilly’s or WOJT
other than the representations and warranties expressly set forth in this Agreement. 

  

	 	(b)	Representations and Warranties of WOJT. WOJT hereby represents and warrants to Shareholders and Tilly’s, all of which representations and warranties are
true, complete, and correct in all respects as of the date hereof and will be as of the Closing, as follows: 

  

	 	(i)	Organization and Qualification. WOJT is a corporation duly organized, validly existing and in good standing under the laws of the jurisdiction of its
incorporation. 

  

	 	(ii)	 Authorization; No Restrictions, Consents or Approvals. WOJT has full power and authority to enter into and perform its obligations under this
Agreement. This Agreement has been duly executed by WOJT and constitutes the legal, valid, binding and enforceable obligation of WOJT, enforceable against WOJT in accordance with its terms. The execution and delivery of this Agreement and the
consummation by WOJT of the transactions contemplated herein do not and will not on the Closing (A) conflict with or violate any of the terms of the articles of incorporation and bylaws of WOJT or any applicable law relating to WOJT,
(B) conflict with, or result in a breach of any of the terms of, or result in the acceleration of any indebtedness or obligations under, any material agreement, obligation or instrument by which WOJT is bound or to which any property of WOJT is
subject, or constitute a default thereunder, other than those material agreements, obligations or instruments for which WOJT has obtained consent for the transactions contemplated under this Agreement, (C) result in the creation or imposition
of any lien on any of the assets of WOJT, (D) constitute an event permitting termination of any material agreement or instrument to which WOJT is a party or by which any property or asset of WOJT is bound or affected, pursuant to the terms of
such agreement or instrument, other than those material agreements or instruments for which WOJT has obtained consent for the transactions 

  
 4 

	 	
contemplated under this Agreement, or (E) conflict with, or result in or constitute a default under or breach or violation of or grounds for termination of, any license, permit or other
governmental authorization to which WOJT is a party or by which WOJT may be bound, or result in the violation by WOJT of any laws to which WOJT may be subject, which would materially adversely affect the transactions contemplated herein. No
authorization, consent or approval of, notice to, or filing with, any public body or governmental authority or any other person is necessary or required in connection with the execution and delivery by WOJT of this Agreement or the performance by
WOJT of its obligations hereunder. 

  

	 	(iii)	Capitalization. The WOJT Shares constitute all of the issued and outstanding shares of common stock of WOJT. No securities of WOJT are entitled to pre-emptive or
similar rights, and no person has any right of first refusal, pre-emptive right, right of participation, or any similar right to participate in the transactions contemplated by this Agreement. There are no outstanding options, warrants, rights to
subscribe to, calls or commitments of any character whatsoever relating to, or securities, rights or obligations convertible into or exchangeable for, or giving any person any right to subscribe for or acquire, common stock of WOJT, or contracts,
commitments, understandings or arrangements by which WOJT is or may become bound to issue additional shares of WOJT common stock, or securities or rights convertible or exchangeable into common stock of WOJT. The issuance of the WOJT Shares
contemplated by this Agreement will not, immediately or with the passage of time; (A) obligate WOJT to issue common stock of WOJT or other securities to any person, or (B) result in a right of any holder of WOJT securities to adjust the
exercise, conversion, exchange or reset price of such securities. 

  

	 	(c)	Representations and Warranties of Tilly’s. Tilly’s hereby represents and warrants to Shareholders and WOJT, all of which representations and warranties
are true, complete, and correct in all respects as of the date hereof and will be as of the Closing, as follows: 

  

	 	(i)	Organization and Qualification. Tilly’s is a corporation duly organized, validly existing and in good standing under the laws of the jurisdiction of its
incorporation. 

  

	 	(ii)	 Authorization; No Restrictions, Consents or Approvals. Tilly’s has full power and authority to enter into and perform its obligations under
this Agreement. This Agreement has been duly executed by Tilly’s and constitutes the legal, valid, binding and enforceable obligation of Tilly’s, enforceable against Tilly’s in accordance with its terms. The execution and delivery of
this Agreement and the consummation by Tilly’s of the transactions contemplated herein (including the issuance of the Tilly’s Shares in exchange for the WOJT Shares) do not and will not on the Closing (A) conflict with or violate any
of the terms of the articles of 

  
 5 

	 	
incorporation and bylaws of Tilly’s or any applicable law relating to Tilly’s, (B) conflict with, or result in a breach of any of the terms of, or result in the acceleration of any
indebtedness or obligations under, any material agreement, obligation or instrument by which Tilly’s is bound or to which any property of Tilly’s is subject, or constitute a default thereunder, other than those material agreements,
obligations or instruments for which Tilly’s has obtained consent for the transactions contemplated under this Agreement, (C) result in the creation or imposition of any lien on any of the assets of Tilly’s, (D) constitute an
event permitting termination of any material agreement or instrument to which Tilly’s is a party or by which any property or asset of Tilly’s is bound or affected, pursuant to the terms of such agreement or instrument, other than those
material agreements or instruments for which Tilly’s has obtained consent for the transactions contemplated under this Agreement, or (E) conflict with, or result in or constitute a default under or breach or violation of or grounds for
termination of, any license, permit or other governmental authorization to which Tilly’s is a party or by which Tilly’s may be bound, or result in the violation by Tilly’s of any laws to which Tilly’s may be subject, which would
materially adversely affect the transactions contemplated herein. No authorization, consent or approval of, notice to, or filing with, any public body or governmental authority or any other person is necessary or required in connection with the
execution and delivery by Tilly’s of this Agreement or the performance by Tilly’s of its obligations hereunder. 

  

	 	(iii)	Issuance of Shares. The Tilly’s Shares have been duly authorized and, upon issuance in accordance with the terms hereof, shall be validly issued and free
from all taxes, liens and charges with respect to the issue thereof, and the Tilly’s Shares shall be fully paid and non-assessable with the holder being entitled to all rights accorded to a holder of Tilly’s Class B common stock.

  

	 	(iv)	Investment Representations. 

  

	 	(A)	 Tilly’s understands that the WOJT Shares have not been registered under the Securities Act of 1933, as amended (the “Securities
Act”) or any other applicable securities laws, including those under the California Corporations Code. Tilly’s also understands that the WOJT Shares are being offered pursuant to an exemption from the registration requirements of the
Securities Act, under Section 4(2) and/or Regulation D of the Securities Act, and of the California Corporations Code, under Section 25012(f). Tilly’s acknowledges that the Shareholders will rely on Tilly’s representations,
warranties and certifications set forth below for purposes of determining Tilly’s suitability as an investor in the WOJT Shares and for purposes of confirming the availability of the Section 4(2) and/or Regulation D exemption from the
registration requirements 

  
 6 

	 	
of the Securities Act, and of the Section 25012(f) exemption under the California Corporations Code. 

 

	 	(B)	Tilly’s has received all the information it considers necessary or appropriate for deciding whether to acquire the WOJT Shares. Tilly’s understands the risks
involved in an investment in the WOJT Shares. Tilly’s further represents that it, through its authorized representatives, has had an opportunity to ask questions and receive answers from the Shareholders regarding the terms and conditions of
the offering of the WOJT Shares and the business, properties, prospects, and financial condition of WOJT and to obtain such additional information (to the extent the Shareholders or any Shareholder possessed such information or could acquire it
without unreasonable effort or expense) necessary to verify the accuracy of any information furnished to Tilly’s or to which Tilly’s had access. Tilly’s further represents that it is an “accredited investor” within the
meaning of Rule 501(a) of the Securities Act. 

  

	 	(C)	Tilly’s is acquiring the WOJT Shares for its own account for investment only and not with a view towards their resale or “distribution” (within the
meaning of the Securities Act) of any part of the WOJT Shares. 

  

	 	(D)	Tilly’s understands that the WOJT Shares may not be offered, sold or otherwise transferred except in compliance with the registration requirements of the
Securities Act and any other applicable securities laws or pursuant to an exemption therefrom, and in each case in compliance with the conditions set forth in this Agreement. Tilly’s acknowledges and is aware that the WOJT Shares may not be
sold pursuant to Rule 144 adopted under the Securities Act unless certain conditions are met and until Tilly’s has held the WOJT Shares for the applicable holding period under Rule 144. 

 

	 	(E)	Tilly’s acknowledges and agrees that each certificate representing the WOJT Shares shall bear a legend substantially in the following form:

  

	 	    	 “THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), OR
THE SECURITIES LAWS OF ANY STATE. THE SECURITIES MAY NOT BE TRANSFERRED EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER SUCH ACT AND APPLICABLE STATE SECURITIES LAWS OR PURSUANT TO AN APPLICABLE

  
 7 

	 	
EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF SUCH ACT AND SUCH LAWS.” 

  

	 	(v)	No Reliance. Tilly’s has not relied on and is not relying on any representations, warranties or other assurances regarding WOJT other than the
representations and warranties expressly set forth in this Agreement. 

  

	3.	Closing. 

  

	 	(a)	Conditions to Shareholders’ Obligations. The obligations of Shareholders under this Agreement, (including, without limitation, the obligation to transfer
the WOJT Shares in exchange for the Tilly’s Shares) shall be subject to satisfaction of the following conditions, unless waived by Shareholders: (i) WOJT and Tilly’s shall have performed in all material respects all agreements, and
satisfied in all material respects all conditions on its part to be performed or satisfied hereunder, at or prior to the Closing; (ii) all of the representations and warranties of WOJT and Tilly’s herein shall have been true and correct in
all respects when made, shall have continued to have been true and correct in all respects at all times subsequent thereto, and shall be true and correct in all material respects on and as of the Closing as though made on, as of, and with reference
to such Closing; (iii) WOJT and Tilly’s shall have executed and delivered to Shareholders all documents necessary to issue the Tilly’s Shares to Shareholders, as contemplated by this Agreement (including those documents described in
Section 3(d)); and (iv) WOJT and Tilly’s shall have obtained or made, as applicable, all consents, authorizations and approvals from, and all declarations, filings and registrations required to consummate the transactions
contemplated by this Agreement, including all items required under the incorporation document and bylaws of WOJT and Tilly’s, respectively. 

  

	 	(b)	 Conditions to Tilly’s’ Obligations. The obligations of Tilly’s under this Agreement, (including, without limitation, the
obligation to issue the Tilly’s Shares in exchange for the transfer by Shareholders of the WOJT Shares) shall be subject to satisfaction of the following conditions, unless waived by Tilly’s: (i) Shareholders and WOJT shall have
performed in all respects all agreements, and satisfied in all respects all conditions on their part to be performed or satisfied hereunder, at or prior to the Closing; (ii) all of the representations and warranties of Shareholders and WOJT
herein shall have been true and correct in all material respects when made, shall have continued to have been true and correct in all material respects at all times subsequent thereto, and shall be true and correct in all material respects on and as
of the Closing as though made on, as of, and with reference to such Closing; (iii) Shareholders and WOJT shall have executed and delivered to Tilly’s all documents necessary to transfer the WOJT Shares to Tilly’s, as contemplated by
this Agreement (including those documents described in Section 3(d)); and (iv) Shareholders and WOJT shall have obtained or made, as applicable, all consents, authorizations and approvals from, and all declarations, filings and
registrations required to consummate the transactions contemplated by 

  
 8 

	 	
this Agreement, including all items required under the incorporation document and bylaws of WOJT and Tilly’s, respectively. 

 

	 	(c)	Closing Documents. At the Closing: 

  

	 	(i)	Shareholders shall deliver to Tilly’s, in form and substance reasonably satisfactory to Tilly’s, certificates evidencing the WOJT Shares, together with stock
powers duly for such certificates to allow such certificates to be registered in the name of Tilly’s; 

  

	 	(ii)	WOJT shall deliver to Shareholders and Tilly’s, in form and substance reasonably satisfactory to Shareholders and Tilly’s, a certificate executed on behalf of
WOJT by the Secretary of WOJT certifying the truth and correctness of the representations and warranties set forth in Section 2(b); and 

  

	 	(iii)	Tilly’s shall deliver to Shareholders, in form and substance reasonably satisfactory to Shareholders, (i) certificates evidencing the Tilly’s Shares,
registered in the name of Shareholders, and (ii) copies of resolutions adopted by the board of directors of Tilly’s and certified by the Secretary of Tilly’s authorizing the execution and delivery of, and performance of
Tilly’s’ obligations under, this Agreement. 

  

	4.	Survival of Representations and Warranties. 

  

	 	(a)	None of the representations, warranties and covenants of Shareholders, WOJT or Tilly’s hereto contained in this Agreement shall survive the Closing, except that
the representations and warranties contained in Section 2(a)(i), Section 2(b)(i), Section 2(b)(ii), Section 2(b)(iii), Section 2(c)(i), and Section 2(c)(ii) shall survive until
the latest date permitted by applicable law. Except as specifically set forth in the preceding sentence, no other representation, warranty or covenant of any party set forth in this Agreement will survive the Closing, and no party will have any
rights or remedies after the Closing with respect to any misrepresentation of or inaccuracy in any such representation, warranty or covenant. 

  

	5.	General Provisions. 

  

	 	(a)	 “S” Corporation Election. (i) Shareholders hereby consent to any tax election required by WOJT or Tilly’s in order to cause
the allocation of WOJT’s income, loss, deductions and credits to be determined by computing such amounts on a closing of the books of WOJT through the day prior to the termination of WOJT’s “S” Corporation election rather
than having such items determined for the entire calendar year and then allocated on a daily basis. Shareholders agree to execute, file, or deliver such additional consents, agreements or other documents as may be necessary in connection with such
tax election by WOJT or Tilly’s; (ii) in the event that a public offering of Tilly’s’ capital stock is not consummated, Shareholders agree that Tilly’s and WOJT may take such action as may be necessary to cause Tilly’s
to be taxed as an “S” Corporation without any 

  
 9 

	 	
additional action by Shareholders. In such case, Shareholders further agree to take any such action reasonably requested by Tilly’s to be treated as an “S” Corporation.

  

	 	(b)	Releases and Waivers of Shareholders. Each Shareholder on its own behalf hereby acknowledges and agrees that the number of WOJT Shares set forth on Schedule
A represents the total number and type of WOJT Shares held by such Shareholder as of the date of this Agreement and as of the Closing. Each Shareholder hereby releases WOJT and Tilly’s from all obligations, liabilities and causes of action
arising before, on or after the date of this Agreement, out of or in relation to any entitlement which such Shareholder may have with respect to any WOJT Shares in excess of the number of WOJT Shares set forth on Schedule A. Each Shareholder
hereby generally, irrevocably, unconditionally and completely waives any and all rights to receive any anti-dilution protection to which such Shareholder may be entitled under the articles of incorporation, bylaws or other organizational documents
of WOJT or under any other agreement or instrument in connection with the Exchange. Except for the Tilly’s Shares to be issued in connection with the Exchange, each Shareholder hereby generally, irrevocably, unconditionally and completely
waives any and all rights existing as of the date hereof to receive options, depository receipts, warrants, stock appreciation or similar rights to acquire or receive securities in WOJT or Tilly’s. 

 

	 	(c)	Certain Tax Matters. It is the intent of the parties hereto that the Exchange qualify as an exchange described in Section 351 of the Code. Each of the
parties shall use their respective reasonable best efforts to cause the Exchange to qualify as an exchange within the meaning of Section 351(a) of the Code, and will not take, or will not agree to take, any action that would prevent the
Exchange from qualifying as such an exchange. Unless otherwise required pursuant to a “determination” within the meaning of Section 1313(a) of the Code, each of the parties shall report the Exchange for U.S. federal income tax
purposes as an exchange within the meaning of Section 351(a) of the Code. 

  

	 	(d)	Governing Law. This Agreement is to be construed in accordance with and governed by the internal laws of the State of California (as permitted by
Section 1646.5 of the California Civil Code or any similar successor provision) without giving effect to any choice of law rule that would cause the application of the laws of any jurisdiction other than the internal laws of the State of
California to the rights and duties of the parties. 

  

	 	(e)	 Arbitration. Any claim, dispute or controversy among the parties arising out of or relating to this Agreement, including the breach thereof,
which cannot be satisfactorily settled by the parties, will be finally and exclusively settled by confidential and binding arbitration (“Arbitration”) upon the written request of any party. The Arbitration shall be administered by
the Judicial Arbitration and Mediation Service (“JAMS”) in accordance with its Commercial Arbitration Rules (the “Rules”). The Arbitration will be conducted by one arbitrator selected in accordance with the Rules.
The place of the Arbitration shall be Irvine, 

  
 10 

	 	
California. The Arbitration will be conducted in English. The Arbitration award will be final and binding upon the parties, and judgment upon such award may be entered in any court having
jurisdiction thereof. 

  

	 	(f)	Severability. If any provision of this Agreement is held by a court or other tribunal of competent jurisdiction to be invalid or unenforceable for any reason,
the remaining provisions shall continue in full force and effect without being impaired or invalidated in any way, and the parties agree to replace any invalid provision with a valid provision which most closely approximates the intent and economic
effect of the invalid provision. 

  

	 	(g)	Waiver. The waiver by either party of a breach of or default under any provision of this Agreement shall not be effective unless in writing and shall not be
construed as a waiver of any subsequent breach of or default under the same or any other provision of this Agreement. Further, any failure or delay on the part of either party to exercise or avail itself of any right or remedy that it has or may
have hereunder shall not operate as a waiver of any such right or remedy or preclude other or further exercise thereof or of any other right or remedy. 

  

	 	(h)	Notices. Any notices required or permitted hereunder shall be given to the appropriate party at the address specified below or at such other address as the party
may specify in writing. Such notice shall be deemed given: (i) if delivered personally, upon delivery as evidenced by delivery records; (ii) if sent by telephone facsimile, upon confirmation of receipt; (iii) if sent by certified or
registered mail, postage prepaid, five (5) days after the date of mailing; of (iv) if sent by nationally recognized express courier, two (2) business days after date of placement with such courier. 

 

	 	    	Shareholders: 

  

	 	    	[            ] 

	 	    	[            ] 

	 	    	Attn: [            ] 

 [            ] 

[            ] 

Attn: [            ] 

[            ] 

[            ] 

Attn: [            ] 

[            ] 

[            ] 

Attn: [            ] 

WOJT: 

  
 11 

 World of Jeans & Tops 

10 Whatney 

Irvine, California 92618 
 Attn: Legal Department 
 Tilly’s: 

Tilly’s, Inc. 
 10 Whatney 
 Irvine, California 92618 

Attn: Legal Department 
  

	 	(i)	No Third Party Beneficiaries. Nothing in this Agreement shall be construed to confer any rights or benefits upon any person other than the parties hereto, and no
other person shall have any rights or remedies hereunder. 

  

	 	(j)	Public Announcements. Each of the Shareholders, WOJT and Tilly’s will consult with each other before issuing, and provide each other the opportunity to
review and comment upon, any press release or other public statements with respect to this Agreement and the transaction contemplated hereby and shall not issue any such press release or make any such public statement prior to such consultation,
except as may be required by applicable law, court process or by obligations pursuant to any listing agreement with any national securities exchange. 

  

	 	(k)	Termination. This Agreement may be terminated upon written notice at any time prior to Closing by mutual written consent of the parties. Termination of this
Agreement will terminate all rights and obligations of the parties under this Agreement and this Agreement will become void and have no force or effect. 

  

	 	(l)	Entire Agreement. This Agreement constitutes the entire agreement between the parties and supersedes all prior oral and written agreements between the parties
hereto with respect to the subject matter hereof. 

  

	 	(m)	Counterparts. This Agreement may be executed in one or more counterparts (including fax counterparts) each of which shall be deemed an original and all of which
shall be taken together and deemed to be one instrument. 

 [SIGNATURE PAGES FOLLOW] 

  
 12 

 IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first above
written. 
  

					
	 	 		 	  

	Hezy Shaked (or successor trustee), Trustee of the Hezy Shaked Living Trust Established May 18, 1999	 		 	Tilly Levine (or successor trustee), Trustee of the Tilly Levine Separate Property Trust Established March 31, 2004
	 	 		 	  

	HS Annuity Trust Established August 6, 2010, Amy Shaked and Netta Shaked-Schroer Co-Trustees (Amy Shaked, Co-Trustee)	 		 	TL Annuity Trust Established August 6, 2010, Amy Shaked and Netta Schroer-Shaked Co-Trustees (Amy Shaked Co-Trustee)
	 	 		 	  

	HS Annuity Trust Established August 6, 2010, Amy Shaked and Netta Shaked-Schroer Co-Trustees (Netta Schroer-Shaked Co Trustee)	 		 	TL Annuity Trust Established August 6, 2010, Amy Shaked and Netta Schroer-Shaked Co-Trustees (Netta Schroer-Shaked Co-Trustee)

 [SIGNATURE PAGES CONTINUE] 
 [Signature Page to Stock Exchange Agreement] 

			
	World of Jeans & Tops
		
	By:	 	 

 [SIGNATURE PAGES CONTINUE] 
 [Signature Page to Stock Exchange Agreement] 

			
	Tilly’s, Inc.
		
	By:	 	 
		 	Daniel Griesemer
		 	President and Chief Executive Officer

 [Signature Page to Stock Exchange Agreement] 

 SCHEDULE A 

 

					
	 Shareholder
	  	 Shares of World of Jeans & Tops Owned as of
the Date
of Execution of this Agreement
	  	 Shares of Tilly’s, Inc. to be Acquired Pursuant
to
the Exchange Contemplated by this Agreement

	 Hezy Shaked Living Trust Established May 18, 1999
	  	[                    ]	  	[                    ]
			
	 Tilly Levine Separate Property Trust Established March 31, 2004
	  	[                    ]	  	[                    ]
			
	 HS Annuity Trust Established August 6, 2010
	  	[                    ]	  	[                    ]
			
	 TL Annuity Trust Established August 6, 2010
	  	[                    ]	  	[                    ]

  
 A-1

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