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EXHIBIT 10.2.48
 
Change of Control Agreement
 

 

Second Amendment to the
Change of Control Agreement for [NAME]

 
WHEREAS, you entered into the Executive Severance Agreement (Change of Control
Agreement) dated as of July 15, 1999, as amended by First Amendment dated as of
February 6, 2003 (the Agreement) with Charming Shoppes, Inc. (the “Company”);
 
WHEREAS, pursuant to Section 10.4 of the Agreement, no provision of the
Agreement may be modified unless such modification is approved by the
Compensation Committee and signed by you and an authorized officer of the
Company (as such terms are defined in the Agreement); and
 
WHEREAS, the Company wishes to amend and restate Section 2.6(c) of the
Agreement.
 
NOW THEREFORE, intending to be legally bound hereby, and for other good and
valuable consideration, the Company and the Executive agree as follows:
 
1.  
Section 2.6(c), “Change of Control”, of the Agreement is hereby amended and
restated in its entirety as follows:

 
 
(c)
there is consummated a merger, consolidation, recapitalization, or
reor­gani­zation of the Company, a reverse stock split of outstanding Voting
Securities, or an acquisition of securities or assets by the Company (a
"Transaction"), other than a Transaction which would result in the holders of
Voting Securities having at least 80 percent of the total voting power
represented by the Voting Securities outstanding immediately prior thereto
continuing to hold Voting Securities or voting securities of the surviving
entity having at least sixty (60%) percent of the total voting power represented
by the Voting Securities or the voting securities of such surviving entity
outstanding immediately after such Transaction and in or as a result of which
the voting rights of each Voting Security relative to the voting rights of all
other Voting Securities are not altered.

 
 
 
 
 

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IN WITNESS WHEREOF, the parties have executed this Agreement this _______ day of
February, 2007.
 
CHARMING SHOPPES, INC.
     
______________________________
Name:
Title:
   
EXECUTIVE:
     
______________________________
[NAME]

 

 

 

 

 

 

 

 

 

 

 
 

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