Document:

Restricted Stock Agreement

 Exhibit 10.2 
 RESTRICTED STOCK AGREEMENT 
 THIS RESTRICTED STOCK AGREEMENT (this
“Agreement”) is made and entered into by and between Omega Protein Corporation, a corporation organized under the laws of the State of Nevada (the “Company”), and Andrew C. Johannesen, an individual
(“Grantee”) on the 18th day of July, 2011 (the “Grant Date”), pursuant to the Omega Protein Corporation 2006 Incentive Plan (the “Plan”). The Plan is incorporated by reference herein in its
entirety. Capitalized terms not otherwise defined in this agreement shall have the meaning given to such terms in the Plan. 

WHEREAS, Grantee is an employee of the Company, and in connection therewith, the Company desires to grant to Grantee 15,698 shares of the
Company’s common stock, par value $.01 per share (the “Common Stock”), which is calculated with a value of $200,000 on the Grant Date based on a price per share of common stock of $12.74, which represents the average high and
low stock prices of the Common Stock or the New York Stock Exchange on the Grant Date, subject to the terms and conditions of this Agreement and the Plan, with a view to increasing Grantee’s interest in the Company’s welfare and growth;
and 
 WHEREAS, Grantee desires to have the opportunity to be a holder of shares of the Common Stock subject to the terms and
conditions of this Agreement and the Plan. 
 NOW, THEREFORE, in consideration of the premises, mutual covenants and agreements
contained herein, and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto, intending to be legally bound hereby, agree as follows: 

 

	 	1.	Grant of Common Stock and Administration. 

 Subject to the restrictions, forfeiture provisions and other terms and conditions set forth herein (i) the Company grants to Grantee fifteen thousand six hundred and ninety eight (15,698) shares
of Common Stock (“Restricted Shares”), and (ii) Grantee shall have and may exercise all rights and privileges of ownership of such shares, including, without limitation, the voting rights of such shares and the right to receive
any dividends declared in respect thereof. This Agreement and its grant of Restricted Shares is subject to the terms and conditions of the Plan, and the terms and conditions of the Plan shall control except to the extent otherwise permitted or
authorized in the Plan and specifically addressed in this Agreement. The Plan and this Agreement shall be administered by the Committee pursuant to the Plan. 
  

	 	2.	Transfer Restrictions. 

(a) Generally. Grantee shall not sell, assign, transfer, exchange, pledge, encumber, gift, devise, hypothecate or otherwise dispose
of (collectively, “Transfer”) any Restricted Shares. The transfer restrictions imposed by this Section 2 shall lapse as to 100% of the Restricted Shares on the third anniversary of the Grant Date; provided,
however, that, subject to Sections 3 and 4, Grantee then is, and continuously since the Grant Date has been an employee of the Company. The Restricted Shares as to which such restrictions so lapse are referred to as “Vested
Shares.” 
 (b) Dividends, etc. If the Company (i) declares a dividend or makes a distribution on Common
Stock in shares of Common Stock, (ii) subdivides or reclassifies outstanding shares of Common Stock into a greater number of shares of Common Stock or (iii) combines or reclassifies 

 outstanding shares of Common Stock into a smaller number of shares of Common Stock, then the number of
shares of Grantee’s Common Stock subject to the transfer restrictions of this Section 2 may be proportionately increased or reduced so as to prevent the enlargement or dilution of Grantee’s rights and duties hereunder as
determined by the Committee in its sole discretion. The determination of the Committee regarding such adjustments shall be final and binding. 
 (c) Change in Control. If there is a Change in Control (as defined in the Plan) of the Company, the transfer restrictions of this Section 2 shall automatically cease as of the date
immediately preceding the Change in Control, and all the Restricted Shares shall be 100% vested. 
  

	 	3.	Forfeiture. 

 If
Grantee’s employment with the Company is terminated by the Company or Grantee for any reason other than as described in Section 4 below, then Grantee shall immediately forfeit all Restricted Shares which are not Vested Shares. Any
Restricted Shares forfeited under this Agreement shall automatically revert to the Company and become canceled and such shares shall be again subject to the Plan. Any certificate(s) representing Restricted Shares which include forfeited shares shall
only represent that number of Restricted Shares which have not been forfeited hereunder. Upon the Company’s request, Grantee agrees for himself and any other holder(s) to tender to the Company any certificate(s) representing Restricted Shares
which include forfeited shares for a new certificate representing the unforfeited number of Restricted Shares. 
  

	 	4.	Disability or Death. 

 If
Grantee’s employment is terminated with the Company on account of “Disability” or death, the Restricted Shares shall be 100% vested on the date of Grantee’s Disability or death. For the purposes of this Agreement,
Disability shall mean the Grantee’s inability to perform his duties to the Company or an Affiliate on account of mental or physical disability lasting continuously for a period of 90 days or more as determined by the Committee in its sole
discretion. Grantee hereby agrees to provide Committee with access to such information as necessary for the Committee to make such determination and Grantee hereby agrees to provide the necessary consents for the Committee to have access to such
information. 
  

	 	5.	Issuance of Certificate. 

(a) The Restricted Shares may not be Transferred until they become Vested Shares. Further, the Restricted Shares may not be transferred
and the Vested Shares may not be sold or otherwise disposed of in any manner which would constitute a violation of any applicable federal or state securities laws, any rules of the national securities exchange on which the Company’s securities
are traded, listed or quoted, or violation of Company policy. The Company shall cause to be issued a stock certificate, registered in the name of the Grantee, evidencing the Restricted Shares upon receipt of a stock power duly endorsed in blank with
respect to such shares. Each such stock certificate shall bear the following legend: 
 THE TRANSFERABILITY OF THIS
CERTIFICATE AND THE SHARES OF STOCK REPRESENTED HEREBY ARE SUBJECT TO THE RESTRICTIONS, TERMS AND CONDITIONS (INCLUDING FORFEITURE AND 

  
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RESTRICTIONS AGAINST TRANSFER) CONTAINED IN THE OMEGA PROTEIN CORPORATION 2006 INCENTIVE PLAN AND A RESTRICTED STOCK AGREEMENT ENTERED INTO BETWEEN THE REGISTERED OWNER OF SUCH SHARES AND OMEGA
PROTEIN CORPORATION. A COPY OF THE PLAN AND A RESTRICTED STOCK AGREEMENT ARE ON FILE IN THE CORPORATE OFFICES OF OMEGA PROTEIN CORPORATION 

Such legend shall not be removed from the certificate evidencing Restricted Shares until such time as the restrictions imposed by Section 2
hereof have lapsed. 
 (b) The certificate issued pursuant to this Section 5, together with the stock powers
relating to the Restricted Shares evidenced by such certificate, shall be held by the Company. The Company shall issue to the Grantee a receipt evidencing the certificates held by it which are registered in the name of the Grantee. 

 

	 	6.	Tax Requirements. 

 (a)
Taxes and Tax Withholding. This grant of Restricted Shares is subject to all federal, state, local taxes domestic or foreign and the Company shall have the power and the right to deduct or withhold, or require the Grantee to remit to the
Company, an amount sufficient to satisfy federal, state, and local taxes, domestic or foreign, required by law or regulation to be withheld with respect to any taxable event arising as a result of the Plan and this Agreement. 

(b) Share Withholding. With respect to tax withholding required upon any taxable event arising as a result of this Agreement,
Grantee may elect in whole or in part, by having the Company withhold shares of Common Stock having a Fair Market Value on the date the tax is to be determined equal to the minimum statutory total tax which could be imposed on the transaction. All
such elections shall be made in writing, signed by the Grantee, and shall be subject to any restrictions or limitations that the Committee, in its discretion, deems appropriate. Any fraction of a Share required to satisfy such obligation shall be
disregarded and the amount due shall instead be paid in cash by the Grantee. 
  

	 	7.	Miscellaneous. 

 (a)
Certain Transfers Void. Any purported Transfer of shares of Common Stock or Restricted Shares in breach of any provision of this Agreement shall be void and ineffectual, and shall not operate to Transfer any interest or title in the purported
transferee. 
 (b) No Fractional Shares. All provisions of this Agreement concern whole shares of Common Stock. If the
application of any provision hereunder would yield a fractional share, such fractional share shall be rounded down to the next whole share if it is less than 0.5 and rounded up to the next whole share if it is 0.5 or more. 

(c) Not an Employment or Service Agreement. This Agreement is not an employment agreement, and this Agreement shall not be, and no
provision of this Agreement shall be construed 

  
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or interpreted to create (i) any right of Grantee to continue employment with or provide services to the Company or any of its Affiliates. 

(d) Notices. Any notice, instruction, authorization, request or demand required hereunder shall be in writing, and shall be
delivered either by personal delivery, by telegram, telex, telecopy or similar facsimile means, by certified or registered mail, return receipt requested, or by courier or delivery service, addressed to the Company at the address indicated beneath
its signature on the execution page of this Agreement, and to Grantee at his address indicated on the Company’s records, or at such other address and number as a party shall have previously designated by written notice given to the other party
in the manner hereinabove set forth. Notices shall be deemed given when received, if sent by facsimile means (confirmation of such receipt by confirmed facsimile transmission being deemed receipt of communications sent by facsimile means); and when
delivered and receipted for (or upon the date of attempted delivery where delivery is refused), if hand-delivered, sent by express courier or delivery service, or sent by certified or registered mail, return receipt requested. 

(e) Amendment and Waiver. This Agreement may be amended, modified or superseded only by written instrument executed by the Company
and Grantee. Any waiver of the terms or conditions hereof shall be made only by a written instrument executed and delivered by the party waiving compliance. Any waiver granted by the Company shall be effective only if executed and delivered by a
duly authorized executive officer of the Company other than Grantee. The failure of any party at any time or times to require performance of any provisions hereof, shall in no manner effect the right to enforce the same. No waiver by any party of
any term or condition, or the breach of any term or condition contained in this Agreement in one or more instances shall be deemed to be, or construed as, a further or continuing waiver of any such condition or breach or a waiver of any other
condition or the breach of any other term or condition. 
 (f) Governing Law and Severability. This Agreement shall be
governed by the internal laws, and not the laws of conflict, of the State of Nevada. The invalidity of any provision of this Agreement shall not affect any other provision of this Agreement, which shall remain in full force and effect.

 (g) Successors and Assigns. Subject to the limitations which this Agreement imposes upon transferability of shares of
Common Stock, this Agreement shall bind, be enforceable by and inure to the benefit of the Company and its successors and assigns, and Grantee, and Grantee’s permitted assigns and upon death, estate and beneficiaries thereof (whether by will or
the laws of descent and distribution), executors, administrators, agents, legal and personal representatives. 
 (h)
Community Property. Each spouse individually is bound by, and such spouse’s interest, if any, in any Shares is subject to, the terms of this Agreement. Nothing in this Agreement shall create a community property interest where none
otherwise exists. 
 (i) Entire Agreement. This Agreement together with the Plan supersede any and all other prior
understandings and agreements, either oral or in writing, between the parties with respect to the subject matter hereof and constitute the sole and only agreements between the parties with respect to the said subject matter. All prior negotiations
and agreements between the parties with respect to the subject matter hereof are merged into this Agreement. Each party to this 

  
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Agreement acknowledges that no representations, inducements, promises, or agreements, orally or otherwise, have been made by any party or by anyone acting on behalf of any party, which are not
embodied in this Agreement or the Plan and that any agreement, statement or promise that is not contained in this Agreement or the Plan shall not be valid or binding or of any force or effect. 

(j) Compliance with Other Laws and Regulations. This Agreement, the grant of Restricted Shares and issuance of Common Stock shall
be subject to all applicable federal and state laws, rules, regulations and applicable rules and regulations of any exchanges on which such securities are traded or listed, and Company rules or policies. Any determination in which connection by the
Committee shall be final, binding and conclusive on the parties hereto and on any third parties, including any individual or entity. 
 (k) Independent Legal and Tax Advice. The Grantee has been advised and Grantee hereby acknowledges that he has been advised to obtain independent legal and tax advice regarding this Agreement,
grant of the Restricted Shares and the disposition of such shares, including, without limitation, the election available under Section 83(b) of the Internal Revenue Code. Grantee acknowledges that none of the Company, its Affiliates or any of
their officers, directors, employees or agents guarantee or are otherwise responsible for any tax consequences to Grantee in connection with this Agreement, the Restricted Shares or the vesting or disposition thereof under any federal, state, local
domestic or foreign law. 
  

	 	8.	Counterparts. 

 This
Agreement may be executed in multiple original counterparts, each of which shall be deemed an original, but all of which together shall constitute but one and. the same instrument. 

 

	 	9.	Grantee’s Other Acknowledgments. 

 The Grantee acknowledges receipt of a copy of the Plan and represents that he or she is familiar with the terms and provisions thereof, and hereby accepts this Agreement subject to all the terms and
provisions of the Plan and this Agreement. The Grantee hereby agrees to accept as binding, conclusive, and final all decisions or interpretations of the Committee or the Board, as appropriate, upon any questions arising under the Plan or this
Agreement. 
 [SIGNATURE PAGE FOLLOWS] 

  
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 IN WITNESS WHEREOF, the parties have caused this Agreement to be executed on the date first
above written. 
  

			
	COMPANY:
	
	OMEGA PROTEIN CORPORATION
		
	By:	 	/s/ John D. Held
		 	John D. Held
		 	Executive Vice President
		
		 	GRANTEE:
		
		 	/s/ Andrew C. Johannesen
		 	Andrew C. Johannesen

  
 6Transition and Separation Agreement

 Exhibit 10.1 
 TRANSITION AND SEPARATION AGREEMENT 
 This Transition and Separation
Agreement (the “Agreement”) is made by and between Jon C. Kubo (“Executive”) and The Wet Seal, Inc., a Delaware corporation, and any of its affiliates (the “Company”), effective
as of the date Executive signs this Agreement (the “Effective Date”) with reference to the following facts: 
 A. Executive’s employment with the Company will end effective upon the Termination Date (as defined below). 
 B. Executive and the Company want to end their relationship amicably and also to establish the obligations of the parties including, without limitation, all amounts due and owing to Executive. 

NOW, THEREFORE, in consideration of the mutual covenants and agreements hereinafter set forth, the parties agree as follows: 

1. Termination of Employment. Executive acknowledges that his last day of employment with the Company shall be September 30,
2011 or such earlier date as determined by the Company in the event the Transition Duties (as defined below) are not performed to the reasonable satisfaction of the Company (the “Termination Date”), provided, that the
Termination Date may be extended in thirty (30) day increments upon the mutual agreement of the Company and Executive in substantially the form attached hereto as Exhibit A and the term “Termination Date” shall
refer to such extended date. Executive acknowledges and agrees that his status as an officer of the Company and each of its affiliates shall terminate as of the Effective Date. In addition, Executive hereby resigns from any board of directors or
committees upon which Executive serves on behalf of the Company. 
 2. Continued Employment. 

(a) Employment Period. From the Effective Date through the Termination Date (the “Employment Period”),
Executive shall remain employed by the Company in the non-executive position of Senior Vice President of Information Technology, reporting to the President and Chief Operating Officer of the Company. 

(b) Duties. During the Employment Period, Executive shall (i) train and oversee the transition of a successor for
Executive’s previous position as Senior Vice President E Commerce and Chief Information Officer of the Company, (ii) develop a new 18-month software upgrade and integration plan, (iii) develop a new 18-month hardware upgrade plan,
(iv) develop the 2012 capital and expense budget for Information Technology and E Commerce, (v) finalize the implementation of 13.2 software and POS repairs and (vi) continue to provide day-to-day leadership and guidance to the
Company’s Information Technology employees (“Transition Duties”). Executive shall devote such time as shall be necessary to perform the Transition Duties. 

(c) Salary and Benefits Continuation. During the Employment Period, Executive will continue to be paid base salary at the rate in
affect on the Effective Date, accrue paid vacation and be eligible for all employee benefit plans available to senior executives of the Company through the Termination Date. All payments made to Executive during the Employment Period will be subject
to standard payroll deductions and withholdings. 

  
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 (d) Promotion Bonus. Subject to Executive’s performance of the Transition Duties
to the reasonable satisfaction of the Company, the Company shall waive repayment of the first installment of the Promotion Bonus (within the meaning of the Employment Agreement entered into by and between the Company and Executive, dated as of
August 26, 2010 (the “Employment Agreement”)) paid to Executive on September 3, 2010 in the amount of twenty five thousand dollars ($25,000). Executive acknowledges and agrees that Executive shall not be entitled to
receive the second installment of the Promotion Bonus irrespective of Executive’s continued employment in accordance with this Agreement. 
 (e) Protection of Information. Executive agrees that, during the Employment Period and thereafter, Executive will not, except for the purposes of performing the Transition Duties, seek to obtain
any confidential or proprietary information or materials of the Company. 
 3. Separation Payments and Benefits. Without
admission of any liability, fact or claim, the Company hereby agrees, subject to the execution of this Agreement and, on or within twenty-one days following the Termination Date, the General Release of Claims attached hereto as Exhibit B (the
“Release of Claims”) and Executive’s performance of his continuing obligations pursuant to this Agreement, the Employment Agreement, any confidential or proprietary information agreement between Executive and the Company
and any other material agreement between Executive and the Company, to provide Executive the severance benefits set forth in Section 5.6 of the Employment Agreement. 
 4. Full Release. For the consideration set forth in this Agreement and the Employment Agreement and for other fair and valuable consideration therefor, Executive, for himself, his heirs, executors,
administrators, successors and assigns (hereinafter collectively referred to as the “Releasors”), hereby fully releases and discharges the Company, its parents, subsidiaries, affiliates, insurers, successors, and assigns, and
their respective officers, directors, employees, and agents (all such persons, firms, corporations and entities being deemed beneficiaries hereof and are referred to herein as the “Company Entities”) from any and all actions,
causes of action, claims, obligations, costs, losses, liabilities, damages and demands of whatsoever character, whether or not known, suspected or claimed, which the Releasors have, from the beginning of time through the date of this Agreement,
against the Company Entities arising out of or in any way related to Executive’s employment or termination of his employment; provided, however, that this shall not be a release with respect to any amounts and benefits owed to
Executive pursuant to the Employment Agreement upon termination of employment (subject to the terms and conditions of the Employment Agreement, including, without limitation, the execution and non-revocation of the Release of Claims on or within
twenty-one (21) days following the Termination Date), employee benefit plans of the Company or Executive’s right to indemnification as provided in the Company’s Charter and ByLaws. 

5. Waiver of Rights Under Other Statutes. Executive understands that this Agreement waives all claims and rights Executive may
have under certain federal, state and local statutory and regulatory laws, as each may be amended from time to time, including but not limited to, the Age Discrimination in Employment Act (including the Older Workers Benefit

  
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Protection Act), Title VII of the Civil Rights Act; the Employee Retirement Income Security Act of 1974; the Equal Pay Act; the Rehabilitation Act of 1973; the Americans with Disabilities Act;
the Worker Adjustment and Retraining Notification Act; the California Fair Employment and Housing Act, the California Family Rights Act, California law regarding Relocations, Terminations, and Mass Layoffs, the California Labor Code; and all other
statutes, regulations, common law, and other laws in any and all jurisdictions (including, but not limited to, California) that in any way relate to Executive’s employment or the termination of his employment. 

6. Informed and Voluntary Signature. No promise or inducement has been made other than those set forth in this Agreement. This
Agreement is executed by Executive without reliance on any representation by Company or any of its agents. Executive states that he is fully competent to manage his business affairs and understands that he may be waiving legal rights by signing this
Agreement. Executive hereby acknowledges that he has carefully read this Agreement and has had the opportunity to thoroughly discuss the terms of this Agreement with legal counsel of his choosing. Executive hereby acknowledges that he fully
understands the terms of this Agreement and its final and binding effect and that he affixes his signature hereto voluntarily and of his own free will. 
 7. Waiver Of Civil Code Section 1542. It is the intention of the parties in signing this Agreement that it should be effective as a bar to each and every claim, demand and cause of action
stated above. In furtherance of this intention, Executive hereby expressly waives any and all rights and benefits conferred upon Executive by the provisions of SECTION 1542 OF THE CALIFORNIA CIVIL CODE and expressly consents that this Agreement
shall be given full force and effect according to each and all of its express terms and provisions, including those relating to unknown and unsuspected claims, demands and causes of action, if any, as well as those relating to any other claims,
demands and causes of action referred to above. SECTION 1542 provides: 
 “A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH
THE CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE, WHICH IF KNOWN BY HIM OR HER MUST HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR.” 

8. Maintaining Confidential Information. 
 (a) Executive reaffirms his obligations under Section 7 of his Employment Agreement pertaining to Proprietary Information (as defined in his Employment Agreement), whereby Executive agrees, among
other things, to keep confidential and not to use or divulge any confidential or Proprietary Information of the Company to which the Executive obtains access to beginning on Executive’s employment with the Company until the Termination Date.

 (b) Executive reaffirms his obligations under Section 8 of his Employment Agreement pertaining to rights to Inventions
(as defined in his Employment 

  
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Agreement), whereby Executive agrees, among other things, to assign to the Company Executive’s right, title and interest in and to any Inventions that Executive may conceive, discover or
make, either solely or jointly with others, patentable or unpatentable, from the beginning on Executive’s employment with the Company until the Termination Date. 
 (c) Executive agrees to refrain from representing the Company, whether directly or indirectly, when (a) engaging in charitable and community activities, (b) participating in industry and trade
organization activities and (c) delivering lectures, fulfilling speaking engagements or teaching at educational institutions. 
 (d) Executive acknowledges and agrees that the payments provided in Sections 2 and 3 above shall be subject to Executive’s continued compliance with Executive’s obligations under Subsections
(a), (b) and (c) of this Section 8 and that nothing herein shall limit the Company’s recourse in the event of Executive’s breach of any such Subsection or the related provisions of the Employment Agreement. 

9. Miscellaneous. 
 (a) This Agreement shall be governed in all respects by the laws of the State of California without regard to its principles of conflict of law. 

(b) In the event that any one or more of the provisions of this Agreement is held to be invalid, illegal or unenforceable, the validity,
legality and enforceability of the remaining provisions will not in any way be affected or impaired thereby. Moreover, if any one or more of the provisions contained in this Agreement is held to be excessively broad as to duration, scope, activity
or subject, such provisions will be construed by limiting and reducing them so as to be enforceable to the maximum extent compatible with applicable law. 
 (c) This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. 

(d) The paragraph headings used in this Agreement are included solely for convenience and shall not affect or be used in connection with
the interpretation of this Agreement. 
 (e) This Agreement, the Release of Claims, the Employment Agreement and the Stock
Option Agreement (as defined in the Employment Agreement) represent the entire agreement between the parties with respect to the subject matter hereto and may not be amended except in a writing signed by the Company and Executive. If any dispute
should arise under this Agreement, it shall be settled in accordance with the terms of Section 15 of the Employment Agreement. 
 (f) This Agreement shall be binding on the executors, heirs, administrators, successors and assigns of Executive and the successors and assigns of Company and shall inure to the benefit of the respective
executors, heirs, administrators, successors and assigns of the Company Entities and the Releasors. 

  
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 IN WITNESS WHEREOF, the parties hereto have executed this Agreement on July
    , 2011. 
  

			
	THE WET SEAL, INC.
		
	 By:
	 	 /s/ Ken Seipel

		 	Name: Ken Seipel
		 	Title: President and Chief Operating Officer

  

			
	EXECUTIVE
	
	 /s/ Jon C. Kubo

	Jon C. Kubo

  
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 EXHIBIT A 

EXTENSION OF TERMINATION DATE 
 [                    ], 2011 
 Jon C. Kubo 
 [ADDRESS] 

 

	Re:	Extension of Termination Date under Separation Agreement 

 Dear Jon: 
 In accordance with the Separation Agreement entered into by and
between you and The Wet Seal, Inc., a Delaware corporation (the “Company”), dated as of July [    ], 2011 (the “Separation Agreement”), the Company wishes to extend your Employment Period (as
defined in the Separation Agreement) by thirty (30) days. Upon your signature to this letter, for all purposes of the Separation Agreement, the term “Termination Date” shall mean October 30, 2011 or such earlier date as
determined by the Company in the event the Transition Duties (as defined in the Separation Agreement) are not performed to the reasonable satisfaction of the Company. 
 Upon your signature to this letter, the Separation Agreement will be deemed amended to the extent necessary to reflect the terms set forth herein. Otherwise, the Separation Agreement will remain in full
force and effect. 
 To indicate your acceptance of this letter, please sign and date this letter in the space provided below
and return it to the Company by [                    ], 2011. 
 Very truly yours, 
  

					
	THE WET SEAL, INC.	  		  	
			
	  	  	 	  	 
	 Name:
	  		  	
	 Title:
	  		  	
	
	ACCEPTED AND AGREED:
			
	  
	  		  	  

	Jon C. Kubo	  		  	Date

  
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 EXHIBIT B 

GENERAL RELEASE OF CLAIMS 
 This General Release of Claims (“Release”) is entered into as of
                    , 2011, between Jon C. Kubo (the “Executive”) and The Wet Seal, Inc., a Delaware corporation, and any of
its affiliates (the “Company”), effective eight (8) days after Executive’s signature hereto (the “Effective Date”), unless Executive revokes his acceptance of this Release as provided in
Section 4, below. 
 1. Full Release. For the consideration set forth in the Transition and Separation Agreement
entered into between the Company and Executive, dated as July [    ], 2011 (the “Transition and Separation Agreement”) and the Employment Agreement by and between the Company and Executive, dated as
August 26, 2010 (the “Employment Agreement”) and for other fair and valuable consideration therefor, Executive, for himself, his heirs, executors, administrators, successors and assigns (hereinafter collectively referred
to as the “Releasors”), hereby fully releases and discharges the Company, its parents, subsidiaries, affiliates, insurers, successors, and assigns, and their respective officers, directors, employees, and agents (all such
persons, firms, corporations and entities being deemed beneficiaries hereof and are referred to herein as the “Company Entities”) from any and all actions, causes of action, claims, obligations, costs, losses, liabilities,
damages and demands of whatsoever character, whether or not known, suspected or claimed, which the Releasors have, from the beginning of time through the date of this Release, against the Company Entities arising out of or in any way related to
Executive’s employment or termination of his employment; provided, however, that this shall not be a release with respect to any amounts and benefits owed to Executive pursuant to the Employment Agreement upon termination of
employment, employee benefit plans of the Company, or Executive’s right to indemnification as provided in the Company’s Charter and ByLaws. 
 2. Waiver of Rights Under Other Statutes. Executive understands that this Release waives all claims and rights Executive may have under certain federal, state and local statutory and regulatory
laws, as each may be amended from time to time, including but not limited to, the Age Discrimination in Employment Act (including the Older Workers Benefit Protection Act) (“ADEA”), Title VII of the Civil Rights Act; the
Employee Retirement Income Security Act of 1974; the Equal Pay Act; the Rehabilitation Act of 1973; the Americans with Disabilities Act; the Worker Adjustment and Retraining Notification Act; the California Fair Employment and Housing Act, the
California Family Rights Act, California law regarding Relocations, Terminations, and Mass Layoffs, the California Labor Code; and all other statutes, regulations, common law, and other laws in any and all jurisdictions (including, but not limited
to, California) that in any way relate to Executive’s employment or the termination of his employment. 
 3. Informed
and Voluntary Signature. No promise or inducement has been made other than those set forth in this Release and the Transition and Separation Agreement. This Release is executed by Executive without reliance on any representation by Company or
any of its agents. Executive states that he is fully competent to manage his business affairs and understands that he may be waiving legal rights by signing this Release. Executive hereby acknowledges that he has carefully read this Release and has
had the opportunity to thoroughly 

  
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discuss the terms of this Release with legal counsel of his choosing. Executive hereby acknowledges that he fully understands the terms of this Release and its final and binding effect and that
he affixes his signature hereto voluntarily and of his own free will. 
 4. Waiver of Rights Under the Age Discrimination
Act. Executive understands that this Release waives all of his claims and rights under the ADEA. The waiver of Executive’s rights under the ADEA does not extend to claims or rights that might arise after the date this Release is executed.
The monies to be paid to Executive are in addition to any sums to which Executive would be entitled without signing this Release. For a period of seven (7) days following execution of this Release, Executive may revoke the terms of this Release
by a written document received by the Chief Financial Officer of the Company or other person designated by the Board of Directors of the Company no later than 11:59 p.m. of the seventh day following Executive’s execution of this Release. The
Release will not be effective until said revocation period has expired. Executive acknowledges that he has been given up to twenty-one (21) days to decide whether to sign this Release. Executive has been advised to consult with an attorney
prior to executing this Release and has been given a full and fair opportunity to do so. 
 5. Waiver Of Civil Code
Section 1542. It is the intention of the parties in signing this Release that it should be effective as a bar to each and every claim, demand and cause of action stated above. In furtherance of this intention, Executive hereby expressly
waives any and all rights and benefits conferred upon Executive by the provisions of SECTION 1542 OF THE CALIFORNIA CIVIL CODE and expressly consents that this Release shall be given full force and effect according to each and all of its express
terms and provisions, including those relating to unknown and unsuspected claims, demands and causes of action, if any, as well as those relating to any other claims, demands and causes of action referred to above. SECTION 1542 provides: 

“A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF
EXECUTING THE RELEASE, WHICH IF KNOWN BY HIM OR HER MUST HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR.” 

6. Miscellaneous. 
 (a) This Release shall be governed in all respects by the laws of the State of California without regard to its principles of conflict of law. 

(b) In the event that any one or more of the provisions of this Release is held to be invalid, illegal or unenforceable, the validity,
legality and enforceability of the remaining provisions will not in any way be affected or impaired thereby. Moreover, if any one or more of the provisions contained in this Release is held to be excessively broad as to duration, scope, activity or
subject, such provisions will be construed by limiting and reducing them so as to be enforceable to the maximum extent compatible with applicable law. 

  
 8 

 (c) This Release may be executed in two or more counterparts, each of which shall be deemed
an original, but all of which together shall constitute one and the same instrument. 
 (d) The paragraph headings used in this
Release are included solely for convenience and shall not affect or be used in connection with the interpretation of this Release. 
 (e) This Release, the Transition and Separation Agreement, the Employment Agreement and the Stock Option Agreement (as defined in the Employment Agreement) represent the entire agreement between the
parties with respect to the subject matter hereto and may not be amended except in a writing signed by the Company and Executive. If any dispute should arise under this Release, it shall be settled in accordance with the terms of Section 15 of
the Employment Agreement. 
 (f) This Release shall be binding on the executors, heirs, administrators, successors and assigns
of Executive and the successors and assigns of Company and shall inure to the benefit of the respective executors, heirs, administrators, successors and assigns of the Company Entities and the Releasors. 

(Signature page follows) 

  
 9 

 IN WITNESS WHEREOF, the parties hereto have executed this Release on
                    , 2011. 
  

			
	 THE WET SEAL, INC.

		
	 By:
	 	  

		 	Name:
		 	Title:
	
	 EXECUTIVE

	
	  

	 Jon C. Kubo

  
 10

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