Document:

Retention Agreement, Dated 09/27/2004, by and between Company and J. Pritchard

  
 Exhibit 10.2

  
 

 
  
 September 14, 2004 
  
 Jennifer Pritchard 
 President - Arden B. Division 
 The Wet Seal, Inc. 
 26972 Burbank 
 Foothill Ranch, California 92610 
  
 Dear Jennifer: 
  
 I would like to formalize our discussion of last week with regard to changes in your employment at The Wet Seal, Inc. 
  
 Jennifer, we would like you to continue your role as President of Arden B., and the
Compensation Committee has agreed to provide the following incentives, which includes a one-time retention payment to you. 
  
 Firstly, we would like to increase your base salary by $25,000, to an annual rate of $410,000, effective at the next pay period, which is September 24, 2004. In addition
to this we would like to increase your bonus opportunity, which is currently 50% of your salary, to 75% of your salary, and from a current maximum of 1.00% of salary to a new maximum of 150% of salary. 
  
 As the Company transitions through a variety of options over the coining months, the
Compensation Committee has approved a one-time retention cash payment of $200,000, which is roughly equal to your current annual target bonus. The award will be paid at the next pay period, and would be owed back to the Company in full if you were
to leave voluntarily within 12 months. At your discretion you may elect to exchange the cash bonus for an award of 200,000 shares of stock in Wet Seal. The termination date value of the stock would be owed back to the company in full if you leave
the Company voluntarily within 18 months of the award. 
  
 In addition to this,
the Company will grant you 200,000 shares of restricted stock in Wet Seal. The shares would vest 25% on the first anniversary of the grant, and 25% on the second anniversary, and 50% on the third anniversary. The vesting period would be three years.
In the event of involuntary termination, vesting will be accelerated on the next tranche of options, e.g., if termination were to occur before the second anniversary of the grant, 25% of the grant would become vested. If involuntary termination
occurs in connection with a change in control of either the Company or Arden B., then the full grant will be immediately vested. 
  

 With regard to severance protection, in the event of involuntary termination the Company is prepared to: 
  

	 	1.	In the event of involuntary termination (without a change in control), a cash payment equal to 1 1/2 times your base salary plus target bonus, plus accelerated equity vesting as
described above. 

  

	 	2.	In the event of involuntary termination in connection with a change in control of either the Company or Arden B. (within three months prior to or 12 months following a change in
control), a cash payment of 2 times base salary plus target bonus, plus full vesting acceleration on the equity grant described above. 

  
 I believe that the financial consideration that the Board, Compensation Committee, and myself are proposing to you talks to the respect and importance that we place not
just on yourself, but on the Arden B. division inside The Wet Seal, Inc. 
  
 I
would ask that you please return a signed copy to me agreeing to these terms and conditions so that I may pass this on to the Compensation Committee as soon as possible. 
  
 Sincerely, 
  

							
				
	 /s/ Peter D. Whitford
	 	 	 	 Date:
	 	 Sept 14/04

	 Peter D. Whitford
	 	 	 	 	 	 
	 Chairman and Chief Executive Officer
	 	 	 	 	 	 
				
	 /s/ Jennifer Pritchard
	 	 	 	 Date:
	 	 9.27.04

	 Jennifer Pritchard
	 	 	 	 	 	 
	 President - Arden B.Retention Agreement, Dated 10/28/2004, by and between Company and Allan Haims

  
 Exhibit 10.3

  
 

 
  
 October 27, 2004 
  
 Allan Haims 
 The Wet Seal, Inc. 
 26972 Burbank 
 Foothill Ranch, California 92610 
  
 Dear Allan: 
  
 I would like to formalize our discussions with regard to changes in your employment at The
Wet Seal, Inc. 
  
 Allan, we would like you to continue your role as President,
and the Compensation Committee has agreed and authorized me to offer a grant to you 155,000 shares of restricted stock in Wet Seal. The shares would vest 25% on the first anniversary of the grant, and 25% on the second anniversary, and 50% on the
third anniversary. The vesting period would be three years. In the event of involuntary termination, vesting will be accelerated on the next tranche of options, e.g., if termination were to occur before the first anniversary of the grant, 25%
of the grant would become vested; if termination were to occur after the first but before the second anniversary of the grant, an additional 25% of the grant would become vested. If involuntary termination, occurs in connection with a Change in
Control (as defined below), then the full grant will be immediately vested. 
  
 “Change in Control” means an event consisting of any person or group both (a) becoming the beneficial owner directly or indirectly of 20% or more of the outstanding voting securities of The Wet Seal, Inc. and (b) of whose
beneficial share ownership exceeds the numbers of shares owned beneficially by all directors an officers of The Wet Seal, Inc. (excluding shares owned beneficially by any director or officer who is the person or a member of the group). The existence
of a “group” and the “beneficial ownership” of shares shall be determined in accordance with Section 13(d) of the Securities Exchange Act of 1934 and the rules and regulations of the Securities and Exchange Commission promulgated
thereunder. 
  
 I would ask that you please return a signed copy to me agreeing to
these terms and conditions so that I may pass this on to the Compensation Committee as soon as possible. 
  
 Sincerely, 
  

	
	
	 /s/ Peter D. Whitford

	 Peter D. Whitford

	 Chairman and Chief Executive Officer

	
	 /s/ Allan Haims

	 Allan Haims

	 President

	
	 Date: 11/1/04

  
 26972 burbank 
 foothill ______________ ___ RE EMPLOYMENT 
 949 583 9029 949 583 0715 faxRetention Agmt., Dated 10/28/2004, by and between Company and Douglas Felderman

  
 Exhibit 10.4

  
 

 
  
 October 27, 2004 
  
 Douglas Felderman 
 The Wet Seal, Inc. 
 26972 Burbank 
 Foothill Ranch, California 92610 
  
 Dear Doug: 
  
 I would like to formalize our discussions with regard to changes in your employment at The
Wet Seal, Inc. 
  
 Doug, we would like you to continue your role as Executive Vice
President and Chief Financial Officer, and the Compensation Committee has agreed to provide and authorized me to offer the following incentives, which includes a one-time retention payment to you. 
  
 As the Company transitions through, a variety of options over the coming months, the
Compensation Committee has approved a one-time retention cash payment of $100,000, which is roughly equal to your current annual target bonus. The award will be paid on December 1, 2004, and would be owed back to the Company in full if you were to
leave voluntarily within 12 months. 
  
 In addition to this, the Company will
grant you 155,000 shares of restricted stock in Wet Seal. The shares would vest 25% on the first anniversary of the grant, and 25% on the second anniversary, and 50% on the third anniversary. The vesting period would be three years. In the event of
involuntary termination, vesting will be accelerated on the next tranche of options, e.g., if termination were to occur before the first anniversary of the grant, 25% of the grant would become vested; if termination were to occur after the
first but before the second anniversary of the grant, an additional 25% of the grant would become vested. If involuntary termination occurs in connection with a Change in Control (as defined below), then the full grant will be immediately vested.

  
 With regard to severance protection, in the event of involuntary termination
(with or without a Change in Control) the Company will pay you an amount equal to one (1) times your base salary in cash on the termination date. 
  
 26972 burbank 
 foothill ______________ FELDERMAN RE EMPLOYMENT 
 949 583 9029 949 583 0715 fax 
  

 “Change in Control” means an event consisting of any person or group both (a) becoming the beneficial owner
directly or indirectly of 20% or more of the outstanding voting securities of The Wet Seal, Inc. and (b) of whose beneficial share ownership exceeds the numbers of shares owned beneficially by all directors an officers of The Wet Seal, Inc.
(excluding shares owned beneficially by any director or officer who is the person or a member of the group). The existence of a “group” and the “beneficial ownership” of shares shall be determined in accordance with Section 13(d)
of the Securities Exchange Act of 1934 and the rules and regulations of the Securities and Exchange Commission promulgated thereunder. 
  
 I would ask that you please return a signed copy to me agreeing to these terms and conditions so that I may pass this on to the Compensation Committee as soon as
possible. 
  
 Sincerely, 
  

	
	
	 /s/ Peter D. Whitford

	 Peter D. Whitford

	 Chairman and Chief Executive Officer

	
	 /s/ Douglas Felderman

	 Douglas Felderman

	 Executive Vice President and Chief Financial Officer

  
 Date: 10/28/04 
  
 _A Ltr to Jeseph Deckop on Wet Seal Letterhead 
  

 -2-Retention Agmt., Dated 10/28/2004, by and between Company and Joe Deckop

  
 Exhibit 10.5

  
 

 
  
 October 27, 2004 
  
 Joseph Deckop 
 The Wet Seal, Inc. 
 26972 Burbank 
 Foothill Ranch, California 92610 
  
 Dear Joe: 
  
 I would like to formalize our discussions with regard to changes in your employment at The
Wet Seal, Inc. 
  
 Joe, we would like you to continue your role as Executive Vice
President, and the Compensation Committee has agreed to provide and authorized me to offer the following incentives, which includes a one-time retention payment to you. 
  
 As the Company transitions through a variety of options over the coming months, the Compensation Committee has approved a one-time retention
cash payment of $100,000, which is roughly equal to your current annual target bonus. The award will be paid on December 1, 2004, and would be owed back to the Company in full if you were to leave voluntarily within 12 months. 
  
 In addition to this, the Company will grant you 155,000 shares of restricted stock in Wet
Seal. The shares would vest 25% on the first anniversary of the grant, and 25% on the second anniversary, and 50% on the third anniversary. The vesting period would be three years. In the event of involuntary termination, vesting will be accelerated
on the next tranche of options, e.g., if termination were to occur before the first anniversary of the grant, 25% of the grant would become vested; if termination were to occur after the first but before the second anniversary of the grant,
an additional 25% of the grant would become vested. If involuntary termination occurs in connection with a Change in Control (as defined below), then the full grant will be immediately vested. 
  
 With regard to severance protection, in the event of involuntary termination (with or without
a Change in Control) the Company will pay you an amount equal to one (1) times your base salary in cash on the termination date. 
  
 26972 burbank 
 foothill ______________DECKOP RE EMPLOYMENT 
 949 583 9029 949 583 0715 fax 
  

 “Change in Control” means an event consisting of any person or group both (a) becoming the beneficial owner
directly or indirectly of 20% or more of the outstanding voting securities of The Wet Seal, Inc. and (b) of whose beneficial share ownership exceeds the numbers of shares owned beneficially by all directors an officers of The Wet Seal, Inc.
(excluding shares owned beneficially by any director or officer who is the person or a member of the group). The existence of a “group” and the “beneficial ownership” of shares shall be determined in accordance with Section 13(d)
of the Securities Exchange Act of 1934 and the rules and regulations of the Securities and Exchange Commission promulgated thereunder. 
  
 I would ask that you please return a signed copy to me agreeing to these terms and conditions so that I may pass this on to the Compensation Committee as soon as
possible. 
  
 Sincerely, 
  

	
	
	 /s/ Peter D. Whitford

	 Peter D. Whitford

	 Chairman and Chief Executive Officer

	
	 /s/ Joseph Deckop

	 Joseph Deckop

	 Executive Vice President

  
 Date: 10/28/04 
  
 _A Ltr to Jeseph Deckop on Wet Seal Letterhead 
  

 -2-

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