Document:

Form of Indemnification Agreement

 Exhibit 10.33 
  
 DIRECTOR’S 
  
 INDEMNIFICATION AGREEMENT 
  
 This Indemnification Agreement (this “Agreement”), dated as of
                    , is made by and between The Wet Seal, Inc., a Delaware corporation (the “Company”), and
                        , who is currently serving as a director of the Company (the “Indemnitee”).

  
 WHEREAS, the Indemnitee is currently serving as a director of
the Company; 
  
 WHEREAS, the Company has determined that it is in
the best interests of the Company to enter into indemnification agreements with its current directors; 
  
 WHEREAS, the Company desires that the Indemnitee continue to serve as a director of the Company and the Indemnitee is willing, under the current
circumstances, to continue to serve as a director of the Company; 
  
 WHEREAS, the Indemnitee is currently entitled to indemnification under the Delaware General Corporation Law (the “DGCL”), the Restated Certificate of Incorporation of the Company, as amended (the “Restated
Certificate”) and the By-Laws of the Company (the “By-Laws”), which the Indemnitee does not regard to be adequate protection against the risks associated with his service to or at the request of the Company; 
  
 WHEREAS, it is the intention of this Agreement to provide indemnification
protection to and rights for the Indemnitee whenever he is subject to a Proceeding (as defined herein), whether the Indemnitee then is a director or other Agent (as defined herein) or not; and 
  
 WHEREAS, the Company has concluded that additional protection is appropriate
for its directors. 
  
 NOW, THEREFORE, the parties hereto,
intending to be legally bound, hereby agree as follows: 
  
 Section 1. Definitions. 
  
 (a)
“Agent” of the Company shall mean any person who was, is or may be in the future a director, officer, employee, agent or fiduciary of the Company or a Subsidiary, or is or was serving at the request of, for the convenience of, or to
represent the interests of the Company or a Subsidiary as a director, officer, employee, agent or fiduciary of another corporation, partnership, joint venture, trust or other enterprise or entity, including service with respect to an employee
benefit plan. 
  
 (b) “Disinterested Director” of
the Company shall mean a director of the Company who is not and was not a party to the Proceeding for which indemnification is being sought by the Indemnitee. 

 (c) “Expenses” shall include all direct and indirect costs of any type or nature
whatsoever (including, without limitation, all attorneys’ and experts’ fees, costs, retainers, court costs, transcripts, witness fees, travel expenses, duplicating costs, printing costs, binding costs, telephone charges, postage, delivery
service fees, and all other disbursements or expenses) actually incurred by the Indemnitee in connection with the investigation, defense or appeal of a Proceeding or establishing or enforcing a right to indemnification under this Agreement, Section
145 of the DGCL, the Restated Certificate, the By-Laws or otherwise. 
  
 (d) “Independent Legal Counsel” shall mean a law firm, a member of a law firm or an independent practitioner, who is experienced in matters of corporation law and shall include any person who, under the applicable standards
of professional conduct then prevailing, would not have a conflict of interest in representing either the Company or the Indemnitee in an action to determine the Indemnitee’s rights under this Agreement. 
  
 (e) “Proceeding” shall mean any threatened, pending or
completed action, arbitration, mediation, suit or other proceeding, whether civil, criminal, administrative, investigative or any other type whatsoever. 
  
 (f) “Subsidiary” shall mean any corporation, partnership, joint venture or other enterprise, a majority of whose equity interests are
owned or controlled by the Company, directly or through one or more other persons or entities. 
  
 Section 2. Agreement to Serve. The Indemnitee agrees to serve as a director or Agent of the Company, at the Indemnitee’s will (or under separate agreement, if such agreement exists), in the capacity the
Indemnitee currently serves, so long as he is duly appointed or elected and qualified in accordance with the applicable provisions of the By-Laws or the By-Laws of any Subsidiary, until such time as he tenders his resignation in writing or his term
is otherwise completed; provided, however, that nothing contained in this Agreement is intended to create any right to continued service as a director or other Agent of the Company; provided further, that nothing contained in this Agreement (as
opposed to any separate agreement) shall prevent the Indemnitee from resigning his position or positions at the Company. 
  
 Section 3. Mandatory Indemnification. Subject to the limitations set forth in Section 7, if the Indemnitee is a person who was, is or may in the
future be a party or is or may in the future be threatened to be made a party to or is or may in the future be involved, including involvement as a witness, in any Proceeding, including any Proceeding by or in the right of the Company, any
Subsidiary or any affiliate of the Company or any Subsidiary, by reason of the fact that he is or was or has agreed to become a director or another Agent, or by reason of any action alleged to have been taken or omitted by him in any such capacity,
the Company shall indemnify the Indemnitee (whether he is then a director or other Agent or not) against all Expenses, liability and loss (including, but not limited to, judgments, fines, excise taxes or penalties pursuant to the Employee Retirement
Income Act of 1974 and amounts paid or to be paid in settlement) actually and reasonably incurred by him in connection with the investigation, defense, settlement or appeal of such Proceeding; provided, however, that except as provided in Section
7(c) with respect to a Proceeding seeking to enforce rights to indemnification or other rights under this Agreement, the Company shall indemnify the Indemnitee in connection with a Proceeding (or part thereof) initiated by the Indemnitee only if
such Proceeding (or part thereof) was authorized by either the Board of Directors of the Company or the Disinterested Directors thereof. 
  

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 Section 4. Mandatory Advancement of Expenses. The Company shall advance all Expenses as and when
incurred by the Indemnitee in connection with the investigation, defense, settlement or appeal of any Proceeding to which the Indemnitee is a party or is threatened to be made a party or with respect to which the Indemnitee is otherwise involved
(including involvement as a witness) as a director or another Agent of the Company. The Indemnitee hereby undertakes to repay such amounts advanced if, but only if and to the extent that, it shall ultimately be determined pursuant to the provisions
hereof that the Indemnitee is not entitled to be indemnified by the Company as authorized hereby or under applicable law. The advances to be made hereunder shall be paid by the Company to the Indemnitee within twenty (20) days following delivery of
a written request therefor by the Indemnitee to the Company, which request shall reasonably evidence such Expenses incurred; provided, however, that, if and to the extent that the DGCL requires, an advancement of Expenses incurred by the Indemnitee
in his capacity as a director or another Agent of the Company shall be made only upon delivery of an undertaking by or on behalf of the Indemnitee to repay all amounts so advanced if it ultimately shall be determined by final judicial decision from
which there is no further right to appeal that the Indemnitee is not entitled to be indemnified for such Expenses under this Agreement or otherwise. 
  
 Section 5. Partial Indemnification. 
  
 If the Indemnitee is entitled under any provision of this Agreement to indemnification by the Company for some or a portion of the Expenses, judgments,
fines, penalties or amounts paid in settlement actually and reasonably incurred by him in the investigation, defense, appeal or settlement of any Proceeding, but not, however, for the total amount thereof, the Company nevertheless shall indemnify
the Indemnitee for the portion of such Expenses, judgments, fines or penalties to which the Indemnitee is entitled. 
  
 Section 6. Notice and Other Indemnification Procedures. 
  

(a) Promptly after receipt by the Indemnitee of notice of the commencement of or the threat of commencement of any Proceeding, the Indemnitee shall, if
the Indemnitee believes that the indemnification with respect thereto properly may be sought from the Company under this Agreement, notify the Company of the commencement or threat of commencement thereof. The failure to notify or promptly notify
the Company shall not relieve the Company from any liability which it may have to the Indemnitee otherwise than under this Agreement, and shall relieve the Company from liability hereunder only to the extent the Company actually and materially has
been prejudiced. 
  
 (b) If, at the time of the receipt of a
notice pursuant to Section 6(a), the Company has directors’ and officers’ liability insurance (“D&O Insurance”) in effect, the Company shall give prompt notice of the commencement of such Proceeding to the insurer or
insurers in accordance with the procedures set forth in the D&O Insurance policy or policies. The Company thereafter shall take all necessary or desirable action to cause such insurer or insurers to pay, to or on behalf of the Indemnitee, all
amounts payable as a result of such Proceeding in accordance with the terms of such policy or policies. 
  

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 (c) In the event the Company shall be obligated to pay the Expenses of the Indemnitee in connection with
any Proceeding, the Company shall be entitled to assume the defense of such Proceeding, with counsel subject to the reasonable approval of the Indemnitee, upon the delivery to the Indemnitee of written notice of its election to do so. After delivery
of such notice, approval of such counsel by the Indemnitee and the retention of such counsel by the Company, the Company will not be liable to the Indemnitee under this Agreement for any fees of counsel or other Expenses subsequently incurred by the
Indemnitee with respect to the same Proceeding; provided that (i) the Indemnitee shall have the right to employ his own counsel in any such Proceeding at the Indemnitee’s expense and (ii) if (A) the employment of counsel by the Indemnitee
previously has been authorized by the Company, or (B) the Indemnitee shall have concluded upon the advice of counsel that there is a conflict of interest between the Company and the Indemnitee in the conduct of any such defense or the Indemnitee
reasonably believes it is in his best interest to retain separate counsel, or (C) the Company shall not, in fact, have employed counsel to assume the defense of such Proceeding, the Expenses, including the fees and expenses of the Indemnitee’s
counsel, shall be paid by the Company. 
  
 (d) All payments of
Expenses and other amounts by the Company to the Indemnitee pursuant to this Agreement shall be made as soon as practicable after a written demand therefor by the Indemnitee is presented to the Company, but in no event later than (i) twenty (20)
days after such demand is presented or (ii) such later date as may be permitted for the determination of entitlement to indemnification pursuant to Section 7, if applicable; provided, however, that the advancement of Expenses shall be made within
the time provided in Section 4. 
  
 Section 7. Determination of
Right to Indemnification. 
  
 (a) To the extent the
Indemnitee has been successful on the merits or otherwise in defense of any Proceeding referred to in Section 3 or in the defense of any claim, issue or matter described therein, the Company shall indemnify the Indemnitee pursuant to Section 3
against Expenses actually and reasonably incurred by him in connection with the investigation, defense or appeal of such Proceeding. If the Indemnitee has not been successful on the merits or otherwise in any such defense, the Company also shall
indemnify the Indemnitee pursuant to Section 3 unless, and only to the extent that, the Indemnitee has not met the applicable standard of conduct under the DGCL as it now exists or hereafter may be amended (but, in the case of any such amendment,
only to the extent that such amendment permits the Company to provide broader indemnification rights than said law permitted the Company to provide prior to such amendment). 
  
 (b) The determination as to whether the Indemnitee is entitled to indemnification shall be made as follows: (1) if requested
by the Indemnitee, by Independent Legal Counsel selected by the Indemnitee with the consent of the Company (which consent shall not be unreasonably withheld) or (2) if no request is made by the Indemnitee for a determination by Independent Legal
Counsel, (i) by a quorum of the Board of Directors consisting of Disinterested Directors or (ii) if such quorum is not obtainable or, even if obtainable, if a quorum of Disinterested Directors so directs, by Independent Legal Counsel in a written
opinion. 
  

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 (c) Notwithstanding a determination that the Indemnitee is not entitled to indemnification with respect
to a specific Proceeding, the Indemnitee shall have the right to apply to the Court of Chancery of Delaware, the court in which that Proceeding is or was pending, or any other court of competent jurisdiction, for the purpose of enforcing the
Indemnitee’s right to indemnification or the advance payment of Expenses pursuant to this Agreement, the Restated Certificate, the By-Laws or Section 145 of the DGCL as it now exists or hereafter may be amended (but, in the case of any such
amendment, only to the extent that such amendment permits the Company to provide broader indemnification rights than said law permitted the Company to provide prior to such amendment). The burden of proof shall be on the Company in any such suit to
demonstrate that the Indemnitee is not entitled to indemnification or advance payment of Expenses. The Indemnitee’s Expenses incurred in successfully establishing his right to indemnification or advancement of Expenses, in whole or in part, in
any such action (or settlement thereof) shall be paid by the Company. 
  
 (d) Notwithstanding anything in Section 3 or 4 to the contrary, the Company shall not be liable under this Agreement to make any indemnity payment or advancement of Expenses in connection with any Proceeding (i) to the extent that payment
actually is made, within the time frame contemplated by this Agreement, to or on behalf of the Indemnitee under an insurance policy paid for by the Company, except in respect of any amount in excess of the limits of liability of such policy or any
applicable deductible under such policy; (ii) to the extent that payment has been or will, within the time frame contemplated by this Agreement, be made to the Indemnitee by the Company otherwise than pursuant to this Agreement; or (iii) to the
extent that there was a final adjudication by a court of competent jurisdiction that the Indemnitee has not met the applicable standard of conduct required to entitle the Indemnitee to indemnification under the DGCL as it now exists or may hereafter
be amended (but, in the case of any such amendment, only to the extent that such amendment permits the Company to provide broader indemnification rights than said law permitted the Company to provide prior to such amendment). 
  
 Section 8. Limitation of Actions and Release of Claims. No Proceeding
shall be brought and no cause of action shall be asserted by the Company or any Subsidiary or by any person or entity on behalf of the Company or any Subsidiary against the Indemnitee, his spouse, heirs, estate, executors or administrators after the
expiration of one year from the act or omission of the Indemnitee upon which such Proceeding is based; provided, however, that in the event that the Indemnitee fraudulently has concealed the facts underlying such cause of action, no Proceeding shall
be brought and no cause of action shall be asserted after the expiration of one year from the earlier of (i) the date the Company or any Subsidiary discovers such facts or (ii) the date the Company or any Subsidiary could have discovered such facts
by the exercise of reasonable diligence. Any claim or cause of action of the Company or any Subsidiary, including claims predicated upon the negligent act or omission of the Indemnitee, shall be extinguished and deemed released unless asserted by
filing of a legal action within such period. This Section 8 shall not apply to any cause of action which has accrued on the date hereof and of which the Indemnitee is aware on the date hereof but as to which the Company has no actual knowledge apart
from the Indemnitee’s knowledge. 
  
 Section 9.
Non-exclusivity. The provisions for indemnification and advancement of Expenses set forth in this Agreement shall not be deemed exclusive of any other rights which the 
  

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 Indemnitee may have under any provision of law, the Restated Certificate of Incorporation or the By-Laws, a vote of the
Company’s stockholders or Disinterested Directors, any other agreement, or otherwise, both as to administrators in his official capacity and to action in another capacity while occupying his position as an Agent of the Company, and the
Indemnitee’s rights hereunder shall continue after the Indemnitee has ceased acting as an Agent of the Company and shall inure to the benefit of the heirs, executors and administrators of the Indemnitee. 
  
 Section 10. Settlement. The Company shall not be liable to indemnify
the Indemnitee under this Agreement for any amounts paid in settlement of any Proceeding without its prior written consent, which consent shall not be unreasonably withheld by the Company. The Company shall not settle any Proceeding as it relates to
the Indemnitee without the Indemnitee’s prior written consent. In the event that such consent is not given by either the Company or the Indemnitee, as the case may be, and the parties hereto are unable to agree on a proposed settlement,
Independent Legal Counsel shall be retained by the Company, at its expense, with the consent of the Indemnitee, which consent shall not be unreasonably withheld, for the purpose of determining whether or not the proposed settlement is reasonable
under all the circumstances; and if Independent Legal Counsel determines the proposed settlement is reasonable under all the circumstances, the settlement may be consummated without the consent of the other party; provided, however, that no
settlement which would impose any penalty or limitation on the Indemnitee shall be made for the benefit of or imposed upon the Indemnitee without his prior written consent. 
  
 Section 11. Subrogation Rights. In the event of any payment under this Agreement, the Company shall be subrogated to
the extent of such payment to all of the rights of recovery of the Indemnitee against any person or organization and the Indemnitee shall take all actions that reasonably may be requested to secure such rights; provided, that the Indemnitee shall
not be required to admit any liability or waive any attorney-client privilege. 
  
 Section 12. Allowance for Compliance with Commission Requirements. The Indemnitee acknowledges that the Securities and Exchange Commission (the “Commission”) has expressed the opinion that
indemnification of directors and officers from liabilities under the Securities Act of 1933 (the “Act”) is against public policy as expressed in the Act and is, therefore, unenforceable. The Indemnitee hereby acknowledges and agrees
that it will not be a breach of this Agreement for the Company to undertake with the Commission in connection with the registration for sale of any shares or other securities of the Company from time to time that, in the event a claim for
indemnification against such liabilities (other than the payment by the Company of Expenses incurred or paid by a director or officer of the Company in the successful defense of any Proceeding) is asserted in connection with such shares or other
securities being registered, the Company will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of competent jurisdiction the question of whether or not such indemnification by the Company
is against public policy as expressed in the Act and the Company will be governed by the final adjudication of such issue. The Indemnitee further agrees that such submission to a court of competent jurisdiction shall not be a breach of this
Agreement. 
  

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 Section 13. Scope. 
  
 (a) Notwithstanding any other provision of this Agreement, the Company hereby agrees to indemnify the Indemnitee to the
fullest extent permitted by law, notwithstanding that such indemnification is not specifically authorized by the other provisions of this Agreement, the Restated Certificate, the By-Laws or by statute. In the event of any change, after the date of
this Agreement, in any applicable law, statute or rule which expands the right of a Delaware corporation to indemnify a member of its board of directors or another Agent, such change shall be deemed to be within the purview of Indemnitee’s
rights and the Company’s obligations under this Agreement. In the event of any change in any applicable law, statute or rule which narrows the right of a Delaware corporation to indemnify a member of its board of directors or another Agent,
such change, to the extent not otherwise required by such law, statute or rule to be applied to this Agreement, shall have no effect on this Agreement or the parties’ rights and obligations hereunder. 
  
 (b) The Indemnitee’s rights hereunder shall apply to claims made against
the Indemnitee arising out of alleged acts or omissions which occurred prior to the date hereof as well as those which occur after the date hereof. 
  
 Section 14. Severability. If any provision or provisions of this Agreement shall be held to be invalid, illegal or unenforceable for any reason
whatsoever, (a) the validity, legality and enforceability of the remaining provisions of this Agreement (including, without limitation, all portions of any paragraph of this Agreement containing any such provision held to be invalid, illegal or
unenforceable, that are not themselves invalid, illegal or unenforceable) shall not in any way be affected or impaired thereby and (b) to the fullest extent possible, the provisions of this Agreement (including, without limitation, all portions of
any paragraph of this Agreement containing any such provision held to be invalid, illegal or unenforceable) shall be construed so as to give effect to the intent manifested by the provision held invalid, illegal or unenforceable and to give effect
to Section 13. 
  
 Section 15. Modification and Waiver.

  
 (a) No supplement, modification or amendment of this
Agreement shall be binding unless executed in writing by both of the parties hereto. No waiver of any of the provisions of this Agreement shall be deemed or shall constitute a waiver of any other provision hereof (whether or not similar) nor shall
such waiver constitute a continuing waiver. 
  
 (b) In the event
the Company enters into an indemnification agreement with another Agent containing a term or terms more favorable to the indemnitee than the terms contained herein (as determined by the Indemnitee), the Indemnitee shall be afforded the benefit of
such more favorable term or terms and such more favorable term or terms shall be deemed incorporated by reference herein as if set forth in full herein. As promptly as practicable following the execution by the company of each indemnity agreement
with an Agent (i) the Company shall send a copy of the indemnity agreement to the Indemnitee, and (ii) if requested by the Indemnitee, the Company shall prepare, execute and deliver to the Indemnitee an amendment to this Agreement containing such
more favorable term or terms. 
  

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 Section 16. Successors and Assigns. The terms of this Agreement shall bind, and shall inure to the
benefit of, the heirs, executors, administrators, successors and legal assigns of the parties hereto. 
  
 Section 17. Notices. All notices, requests, demands and other communications under this Agreement shall be in writing (including facsimile or
similar writing) and shall be deemed to have been given at the time when mailed, enclosed in a registered or certified postpaid envelope, in any general or branch office of the United States Postal Service, or sent by overnight courier service,
addressed to the address of the parties as set forth on the signature page of this Agreement or to such changed address as such party may have fixed by notice or, if given by facsimile, when such facsimile is transmitted and the appropriate
answerback is received. 
  
 Section 18. Governing Law. This
Agreement shall be governed exclusively by and construed according to the internal laws of the State of Delaware, without regard to its conflicts of law rules. 
  

Section 19. Consent to Jurisdiction. The Company and the Indemnitee each hereby irrevocably consents to the jurisdiction of the courts of the
State of Delaware and the Company irrevocably consents to the jurisdiction of any court in which the Indemnitee brings action pursuant to Section 7(c), for all purposes in connection with any Proceeding which arises out of or relates to this
Agreement. The Company agrees not to initiate any such action or Proceeding in any state other than Delaware and both the Company and the Indemnitee hereby agree to waive their right to a trial by jury in any such Proceeding. 
  
 Section 20. Assignment. Neither this Agreement nor any duties or
responsibilities pursuant hereto may be assigned by the Company to any other person or entity without the prior written consent of the Indemnitee. 
  
 [THE BALANCE OF THIS PAGE IS INTENTIONALLY LEFT BLANK.] 
  

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 IN WITNESS WHEREOF, the parties hereto have entered into this Agreement effective as of the date first
above written. 
  

			
	 THE WET SEAL, INC.

		
	 By:
	 	  

	 Name:
	 	 
	 Title:
	 	 
	
	 INDEMNITEE

	
	

	 Name:

		
	 Address:
	 	  

	 	 	  

	 	 	  

	 Facsimile:
	 	  

  

 9Form of Restricted Stock Agreement

 Exhibit 10.34 
 RESTRICTED STOCK AWARD AGREEMENT 
 UNDER THE WET SEAL, INC. 
 2005 STOCK INCENTIVE PLAN 
  
 THIS RESTRICTED STOCK AWARD AGREEMENT (the “Agreement”), made as of the [27th] day of [January, 2005] (the “Grant Date”) by and between The Wet Seal, Inc. (the “Company”) and
                     (the “Participant”) who is a director who serves on the Board of Directors of the Company (the
“Board”), evidences the grant by the Company of a stock award of restricted [Class A common stock] of the Company (the “Restricted Stock”) to the Participant and the Participant’s acceptance of the Restricted
Stock in accordance with the provisions of The Wet Seal, Inc. 2005 Stock Incentive Plan (the “Plan”). The Company and the Participant agree as follows: 
  
 1. Basis for Award. The award of Restricted Stock is made under the Plan pursuant to Section 9 thereof for
service rendered to the Company by the Participant.  
  
 2.
Stock Awarded. 
  
 (a) The Company hereby awards to
the Participant, in the aggregate, an award of [300,000] shares of [Class A common stock] of the Company (the “Award”) which shall be subject to the conditions and restrictions set forth in the Plan and this Agreement. 

 
 (b) Shares of Restricted Stock shall be evidenced by book-entry
registration with the Company’s transfer agent, subject to such stop-transfer orders and other terms deemed appropriate by the Committee to reflect the restrictions applicable to such Restricted Stock. Notwithstanding the foregoing, if any
certificate is issued in respect of such Restricted Stock, at the sole discretion of the Committee, such certificate shall be registered in the name of the Participant and shall bear an appropriate legend referring to the terms, conditions and
restrictions applicable to this Award, substantially in the following form: 
  
 “THE TRANSFERABILITY OF THIS CERTIFICATE AND THE [CLASS A COMMON STOCK] REPRESENTED HEREBY ARE SUBJECT TO THE TERMS AND CONDITIONS (INCLUDING FORFEITURE) CONTAINED IN THE RESTRICTED STOCK AWARD AGREEMENT
DATED AS OF [JANUARY 27, 2005], ENTERED INTO BETWEEN THE REGISTERED OWNER AND THE WET SEAL, INC.” 
  
 If a certificate is issued with respect to the Restricted Stock, the Committee may require that the certificate evidencing such shares be held in custody by the Company until the restrictions thereon shall have lapsed
and that the Participant deliver a stock power, endorsed in blank, relating to the shares covered by this Award. At the expiration of the restrictions, the Company shall instruct the transfer agent to release the shares from the restrictions
applicable to such Restricted Stock, subject to the terms of the Plan and applicable law or, in the event that a certificate has been issued, redeliver to the Participant (or his legal representative, beneficiary or heir) share certificates for the
shares deposited with it without any legend except as otherwise provided by the Plan, this Agreement or applicable law. During the period that the Participant holds the Restricted Stock, the Participant shall have the right to receive dividends on
and to vote the Restricted Stock while it is subject to restriction, except as otherwise provided by the Plan. If 
  

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 the Restricted Stock is forfeited, in whole or in part, the Participant will assign, transfer and deliver any evidence of
the Restricted Stock to the Company and cooperate with the Company to reflect such forfeiture. By accepting this Award, the Participant acknowledges that the Company does not have an adequate remedy in damages for the breach by the Participant of
the conditions and covenants set forth in this Agreement and agrees that the Company is entitled to and may obtain an order or a decree of specific performance against the Participant issued by any court having jurisdiction. 
  
 (c) Except as provided in the Plan or this Agreement, the restrictions on the
Restricted Stock are that prior to vesting as provided in Section 3 of this Agreement, the shares will be forfeited by the Participant and all of the Participant’s rights to such stock shall immediately terminate without any payment or
consideration by the Company, in the event of any sale, assignment, transfer, hypothecation, pledge or other alienation of such Restricted Stock made or attempted, whether voluntary or involuntary, and if involuntary whether by process of law in any
civil or criminal suit, action or proceeding, whether in the nature of an insolvency or bankruptcy proceeding or otherwise. Notwithstanding the foregoing, Participant may transfer the Restricted Stock to his Immediate Family Members (or to
corporations, trusts, partnerships or limited liability companies established for the Participant and/or such family members); provided, that, (i) such transfer is for no consideration other than securities or other interests in such
corporations, trusts, partnerships or limited liability companies, (ii) the Restricted Stock shall continue to be subject to the terms, conditions and restrictions herein and (iii) the transfer is effected through procedures established by the
Committee from time to time. 
  
 3. Vesting. The
restrictions described in Section 2 of this Agreement will lapse with respect to 33 1/3% of the shares of
Restricted Stock (100,000 shares) on [January 27, 2006] and as to an additional 33 1/3% of the shares of
Restricted Stock (100,000 shares) on [January 27, 2007] and 33 1/3% of the shares of Restricted Stock (100,000
shares) [January 27, 2008], provided the Participant is still a director serving on the Board of the Company on each of those dates. Notwithstanding the foregoing, if the Participant’s service as a director on the Board ceases before a Change
of Control occurs or before public announcement is made of a proposed Change of Control that has been approved by the Board of the Company and thereafter occurs, (i) as a result of his death, (ii) due to his permanent and total disability (within
the meaning of Section 22(e) of the Internal Revenue Code), (iii) due to his failure to be nominated or reelected as a director serving on the Board, (iv) due to his resignation at any time after the policy limit under the Company’s
directors’ and officers’ liability insurance policy has been reduced (including without limitation, a reduction attributable to any claim paid or payable under the policy during the particular policy year) to an amount less than U.S.$35
million (being the amount of coverage in force on the date of this Agreement), or after the insurance policy has been cancelled or has expired without having been replaced as of the effective date of cancellation or expiration with a substantially
similar policy with a coverage limit of at least U.S.$35 million or (v) due to any other reason acceptable to the Committee in its sole discretion (any of the foregoing, a “Termination Event”), all restrictions on any Restricted
Stock that would have vested on the next [January 27th] to occur after such Termination Event shall lapse and the
shares of Restricted Stock that would have vested on the next [January 27th] to occur after such Termination Event
shall vest as of the date of the Termination Event, and all remaining unvested Restricted Stock shall be forfeited. If the Participant ceases to serve as a director on the Board for a reason other than a Termination Event at any time prior to the
respective vesting dates, any shares of Restricted Stock that are unvested as of the date of such 
  

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 cessation of service shall automatically be forfeited. Upon the occurrence of a Change in Control, or upon public
announcement of a proposed Change of Control that has been approved by the Board of the Company and thereafter occurs, in either case while the Participant is serving as a director on the Board, all restrictions on 100% of the then unvested
Restricted Stock shall automatically lapse on the date the Change of Control shall be consummated and all of the Restricted Stock shall be vested. For purposes of this Agreement, the definition of Change in Control shall have the same meaning as
provided in the Plan; provided, that, a Change in Control shall also include (a) the consummation of a complete liquidation or dissolution of the Company or (b) a sale or other disposition of all or substantially all of the assets of
the Company or (c) a transaction or event that the Committee in its sole discretion determines to be a Change of Control for purposes of this Agreement. 
  
 4. Company; Participant. The term “Company” as used in this Agreement with reference to service shall include the Company
and its Affiliates, as appropriate. 
  
 (a) Whenever the word
“Participant” is used in any provision of this Agreement under circumstances where the provision should logically be construed to apply to the beneficiaries, the executors, the administrators, or the person or persons to whom the
Restricted Stock may be transferred by will or by the laws of descent and distribution, the word “Participant” shall be deemed to include such person or persons. 
  
 5. Adjustments. The Award may be adjusted as provided for in Section 12 of the Plan. 
  
 6. Compliance with Law. Notwithstanding any of the provisions
hereof, the Company will not be obligated to issue or transfer any Stock to the Participant hereunder, if the exercise thereof or the issuance or transfer of such Stock shall constitute a violation by the Participant or the Company of any provisions
of any law or regulation of any governmental authority. Any determination in this connection by the Committee shall be final, binding and conclusive. The Company will take all appropriate steps, including, to the extent necessary, the filing of an
appropriate registration statement at its sole expense, such that Participant may sell the Stock upon the lapse of the restrictions set forth herein, subject to the Company’s insider trading policies. 
  
 7. No Right to Continued Service. Nothing in this Agreement or
in the Plan shall confer upon the Participant any right to continue as a director or shall interfere with or restrict in any way the rights of the Company’s stockholders, which are hereby expressly reserved, to remove the Participant as a
director at any time for any reason whatsoever, with or without cause. Except as provided herein, Participant acknowledges and agrees that the continued vesting of the Restricted Stock granted hereunder is premised upon his provision of future
services with the Company and the vesting of such Restricted Stock shall not accelerate upon his termination of service for any reason except as specifically provided herein. 
  
 8. Representations and Warranties of Participant. The Participant represents and warrants to the Company that:

  
 (a) Agrees to Terms of the Plan. The Participant has
received a copy of the Plan and has read and understands the terms of the Plan and this Agreement, and agrees to be bound by their terms and conditions. In the event of an express conflict or inconsistency 
  

 3 

 between the terms and provisions of the Plan and the provisions of this Agreement, the Plan shall govern and control. All
capitalized terms not defined herein shall have the meaning ascribed to them as set forth in the Plan. The Participant acknowledges that there may be adverse tax consequences upon the vesting of the Restricted Stock or disposition of the shares of
Stock once vested, and that the Participant should consult a tax adviser prior to such time. 
  
 (b) Cooperation. The Participant agrees to sign such additional documentation as may reasonably be required from time to time by the Company. 
  
 9. Taxes. The Participant agrees that, to the extent required by law, no later than the date as of which the
restrictions on the Restricted Stock shall lapse with respect to all or any of the Stock covered by this Agreement, the Participant shall pay to the Company (in cash, or to the extent permitted by the Committee, Stock held by the Participant for at
least six (6) months whose Fair Market Value on the date the Restricted Stock vests is equal to the amount of the Participant’s tax withholding liability) any federal, state or local taxes of any kind required by law to be withheld, if any,
with respect to the Restricted Stock for which the restrictions shall lapse. The Participant and the Company acknowledge that under current law, the Company is not required to withhold from income earned by Non-Employee Directors of the Company.

  
 10. Notice. Every notice or other communication
relating to this Agreement shall be in writing, and shall be mailed to or delivered to the party for whom it is intended at such address as may from time to time be designated by it in a notice mailed or delivered to the other party as herein
provided; provided, that, unless and until some other address be so designated, all notices or communications by the Participant to the Company shall be mailed or delivered to the Company at its principal executive office, and all
notices or communications by the Company to the Participant may be given to the Participant personally or may be mailed to him at his address as recorded in the records of the Company. Notwithstanding the foregoing, at such time as the Company
institutes a policy for delivery of notice by e-mail, notice may be given in accordance with such policy. 
  
 11. Governing Law. This Agreement shall be construed and interpreted in accordance with the laws of the State of California without regard
to its conflict of law principles. 
  

 4 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year first above
written. 
  

			
	 THE WET SEAL, INC.

		
	 By:
	 	  

	 Name:
	 	 
	 Title:
	 	 
	
	 PARTICIPANT

	  

	 Name:

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