Document:

Employment Offer Letter

 Exhibit 10.1 
  
 Sent via Airborne Express 
  
 June 1, 2005 
  
 Poe A. Timmons 
 7171 Temperance Point Street 
 Westerville, Ohio 43082 
  
 Dear Poe: 

 
 It is with great pleasure that we extend the following employment offer to you. Mike,
Bill and I look forward to working with you as Too, Inc. continues to develop and grow. Your background and experience will be most appreciated in contributing to our successes. The following outlines the offer as Senior Vice President/Chief
Financial Officer, reporting to Bill May. 
  
 The following are the terms and
conditions of our offer and replace any and all previous offers or discussions concerning your employment with Too, Inc. 
  

			
	Start Date:	  	 As soon as possible.

		
	Annual Base Salary:	  	 $300,000.00 Annually.

		
	 	  	 •      Annual review March 2006 and each March thereafter, with annual adjustments based
on:

		
	 	  	         1)    Your performance

		
	 	  	         2)    Economic factors

		
	 	  	       (e.g., inflation, comparable job market, etc.)

		
	 	  	         3)    Total Company results

		
	Stock Options:	  	 10,000 Options upon employment date.

		
	 	  	 •      The price of option shares will be the closing price of our stock on the first day of
employment.

		
	 	  	 •      Stock Options and Restricted Service Shares are exercisable:

		
	 	  	 25% after 1 year             25% after 2 years

	 	  	 25% after 3 years           25 % after 4 years

		
	 	  	 •      All future grants will be made commensurate with your position and performance on an annual
basis.

  

 Poe Timmons 
 June 1, 2005

 Page 2 
  

			
	Incentive Compensation:	  	 
	 	  	 •      All future grants will be made commensurate with your position and performance on an
annual basis and with the approval of the Compensation Committee.

		
	 	  	 •      Participation in the Incentive Compensation (cash bonus) program at a target level of 45% of your
annual base salary. Your initial annual target level is $135,000. Maximum annual payout is double your target level ($270,000 maximum).

		
	 	  	 •      All Incentive Compensation (IC) payouts are based on Too, Inc.’s profit results and your
individual performance results, and can vary from zero (0) to a maximum of double your target level.

		
	 	  	 •      IC is paid twice a year at the end of each season (August and February). The Spring season is
weighted at 40%; the Fall season is weighted at 60%.

		
	 	  	 •      All participants must be actively employed on the day IC is paid out to eligibility for an IC
payment.

		
	Benefits:	  	The full extent of coverage is explained in the attached booklet. Some of the highlights are:
		
	 	  	Insurance Programs:
		
	 	  	Medical/Dental
	 	  	Comprehensive coverage for you and your family.
		
	 	  	Vision Care
	 	  	Comprehensive coverage for you and your family.
		
	 	  	Life Insurance
	 	  	Four times base salary (maximum of $1,000,000).
		
	 	  	Travel Accident
	 	  	Two times base salary (maximum of $1,000,000).
		
	 	  	Long Term Disability
	 	  	60% of base salary, up to $12,000 per month.
		
	 	  	Voluntary Life Insurance
	 	  	 Up to three times your base salary to a maximum of $500,000.

	 	  	 Up to $50,000 coverage for your spouse.

	 	  	 Up to $10,000 each for your qualified dependent children.

  

 Poe Timmons 
 June 1, 2005

 Page 3 
  

			
	Benefits (Continued)	  	 
	 	  	Associate Contribution:
		
	 	  	 •      The amount you will pay bi-weekly to participate in the Too, Inc. benefits program is subject to
the specific benefits you elect. Please see benefits packet enclosed.

		
	 	  	Discount:
		
	 	  	 •      You will receive a 40% discount on purchases at all Limited Too stores and 30% discount at all
Justice stores immediately upon employment.

		
	 	  	Vacation:
		
	 	  	 •      Four (4) weeks vacation per calendar year, starting calendar year of 2005.

		
	 	  	Retirement Plan:
		
	 	  	 •      Upon completion of eligibility requirements, you will be eligible for the Savings and Retirement
Plan. The company contributes 3% of your pay up to the social security wage base and 6% of your pay above.

		
	 	  	 •      After 5 years, the company contributes 4% of your pay up to social security wage base and 7% of
your pay above.

		
	 	  	Deferred Compensation Plan:
		
	 	  	 •      After one year, you will be eligible to participate in the Deferred Compensation Plan. This plan
allows you the opportunity to defer your money (up to 50%) into the pre-tax Deferred Compensation Plan. In addition, the company will match your first 3% of deferrals on a 2-for-1 basis (3% - meaning 3% of your annual salary). In other words, if you
put 3% ($100) then the company will put in 6% ($200) for a total contribution of 9% ($300).

  
 If you agree with our offer, please
sign both copies, keep one for your records and return one in the enclosed envelope. We are looking forward to the beginning of a mutually beneficial association. 
  

 This employment offer is based on your representation that you are under no legal impediment to accepting our offer and
performing the anticipated services. It is further understood that this letter is intended for purposes of explaining the details of the total offer and does not represent any inferred short or long-term commitments other than those described in the
letter. 
  

			
	Sincerely,	 	I accept your offer as specified above subject to completion of a 1-year salary continuance and non-compete agreement.

  

			
	 /s/ Ron Sykes

	 	 /s/ Poe Timmons

	Ron Sykes	 	Poe Timmons
	Senior Vice President, Human Resources	 	 
		
	RS/dkc	 	 
		
	AttachmentsSeparation Pay, Confidentiality & Non-Competition Agreement

 Exhibit 10.2 
  
 SEPARATION PAY, CONFIDENTIALITY & NON-COMPETITION AGREEMENT 
  
 As an executive associate of Too, Inc. (the “Company”), I have access to trade secrets and other confidential or
proprietary information (“Confidential Information”) of the Company. I may also originate or develop Confidential Information in connection with the performance of my duties with the Company. I understand that all of such Confidential
Information as well as any inventions, designs or innovations that I conceive or devise from my use of the Company’s time, equipment, facilities and support services belong exclusively to the Company, and that it may not be used for my personal
benefit, the benefit of a competitor, or for the benefit of any person or entity other than the Company. 
  
 THEREFORE, in consideration of separation allowances as described in Paragraph 4, and in the form of the 2002 Too, Inc. stock option award to receive
options to acquire 10,000 shares of common stock of Too, Inc. pursuant to the terms of the agreement and in recognition of the highly competitive nature of the business conduct by the Company, I agree as follows: 
  
 1. I will at all times during my employment with the Company and thereafter
faithfully hold the Company’s Confidential Information in the strictest confidence, and I will use my best efforts and highest diligence to guard against its disclosure to anyone other than as expressly required in the performance of my duties
to the Company. I understand that Confidential Information includes, among other things, any information and materials pertaining to products, designs, formulas, packaging or processes, and developments or improvements relating to them; licensing,
sourcing, manufacturing, merchandising, packaging plans and techniques; advertising, marketing and promotional plans and policies; distribution or sales plans and methods; technical and business procedures or strategies; sales, profit or other
financial information; relationships between the Company and any of its customers, suppliers or employees; stores and real estate; and the salaries, compensation, performance history or any other personnel information relating to employees of the
Company. “Confidential Information” does not include information that, now or in the future, is generally available to the public (other than through improper disclosure by me) or information acquired from a third party who had authority
to disclose it. 
  
 2. Upon my separation from the Company,
regardless of the reason for my separation, I will return to the Company all documents and other materials of any kind that contain Confidential Information. 
  
 3. If I leave the Company for any reason whatsoever, then for a period of twelve (12) months after my separation from the Company, I will not directly or
indirectly solicit, induce or attempt to influence any associate to leave the employment of the Company, nor will I in any way assist anyone else in doing so. 
  

 4. I understand that my employment with the Company is and at all times shall be “at will,”
which means that either the Company or I may terminate my employment at any time, for any reason or for no reason. However, if my employment with the Company is terminated by the Company for reasons other than for cause as defined below, I
understand that the Company will continue to pay me my weekly base salary for a period of fifty-two (52) weeks, minus the deductions required by law and subject to a deduction of any salary or compensation that I earn from other employment or
self-employment during the time period in question, regardless of when such amount is payable. Cause for termination of my employment shall exist in the event I: (1) willfully fail to perform my duties with the Company (other than a failure
resulting from my incapacity due to physical or mental illness); or (2) plead “guilty” or “no contest” to or am convicted of an act which is defined as a felony under federal or state law; or (3) engage in willful misconduct in
bad faith which could reasonably be expected to materially harm the Company’s business or its reputation. 
  
 5. If I decide to resign my employment with the Company, I understand the Company requests that I provide a thirty (30) day prior written notice.

  
 6. If I leave the Company for any reason, I will not, for a
period of twelve (12) months after my separation from the Company, directly or indirectly, work for or contribute to the efforts of any business organization that competes, or plans to compete, with the Company or its products. 
  
 7. This Agreement will be governed by and interpreted in accordance with Ohio
law. 
  

					
	 /s/ Poe Timmons

	  	 6/10/05

	Poe Timmons	  	Date
		
	TOO, INC.	  	 
			
	By:	 	 /s/ Ron Sykes

	  	 6/7/05

	 	 	Ron Sykes	  	Date
	 	 	Senior Vice President, Human Resources

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