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Exhibit 10.1

STAY BONUS REPAYMENT AGREEMENT

THIS AGREEMENT (“Agreement”) dated as December 9, 2020 (the “Effective Date”), is by and between Christopher & Banks Corporation (the “Company”), a Delaware corporation, with an address of 2400 Xenium Lane North, Plymouth, Minnesota 55441, and _________, with an address at ___________ (the “Employee”).

W I T N E S S E T H:

WHEREAS, Employee serves as the __________ of the Company pursuant to the terms of an [offer letter and severance agreement/employment agreement] (collectively, the “Employment Agreement”);

WHEREAS, the Employee is a highly-valued employee of the Company and, therefore, the Company desires to encourage the Employee to continue to be committed to the Company; and

WHEREAS, the Employee desires to continue to work for the Company.

NOW, THEREFORE, to induce the Employee to continue to work for the Company and in consideration of the mutual covenants herein made and other good and valuable consideration, the receipt and sufficiency of which hereby are acknowledged, the parties agree as follows:

1.The Company shall pay to the Employee ________, less statutory withholdings and customary deductions (the “Stay Bonus”), as soon as practicable following the Employee’s execution of this Agreement but no later than December 11, 2020. The Stay Bonus shall be in addition to the Employee’s regular salary payments.

2.The parties agree that the Stay Bonus is intended to be a reward for the Employee’s continued service through the date that is the 6-month anniversary of the Effective Date (the “Service Period”) and, as such, is an advance on the Employee’s salary in the event the Employee voluntarily resigns from the employ of the Company or his employment is terminated by the Company for “cause.”  For purposes of this Agreement, “Cause” shall be defined as (i) the Employee’s continuing failure, after reasonable notice and opportunity to cure, to perform the duties and responsibilities assigned to the Employee by the Company; (ii) the Employee engaging in any conduct materially detrimental to the business, goodwill or reputation of the Company; (iii) the Employee’s conviction of a crime involving moral turpitude; or (iv) the Employee violating any material provision of this Agreement or applicable Company policies. 

3.The Employee agrees that if, before the expiration of the Service Period, the Employee voluntarily resigns from the employ of the Company or is terminated by the Company for “Cause” (the date of such termination being referred to herein as the “Termination Date”):  (i) the Employee shall promptly repay to the Company no later than ten (10) days after the Termination Date an amount equal to the Stay Bonus on an after-tax basis, and (ii) the Company shall be entitled to deduct all or any portion of the amount of the 

Stay Bonus not so reimbursed from the Employee’s wages or other sums due the Employee at the time of such resignation or termination.
  
4.Nondisclosure and Nondisparagement.  

The Employee agrees not to disclose any information regarding the substance or existence of this Agreement, including but not limited to, the monies and benefits received or to be received hereunder, except to an immediate family member, attorney, or financial advisor or accountant with whom the Employee chooses to consult regarding this Agreement. The Employee agrees not to, directly or indirectly, in public or in private, deprecate, impugn or otherwise make any remarks or statements that might tend to, or be construed to tend to, defame the Company or its reputation, or the reputations of any of its respective officers, directors and employees, nor shall the Employee assist any other person, firm or entity in so doing.

5.Injunctive Relief; Extension of Covenants Following Breach.  

The covenants set forth in Sections 4 and 6 shall be enforceable by a court of equity through the granting of a temporary restraining order, preliminary injunction and/or permanent injunction.  In the event of a breach of Sections 4 and 6 of this Agreement, the Employee consents to the entry of an injunction, and the Employee shall pay any reasonable fees and expenses incurred by the Company in enforcing such Sections if such breach is finally judicially determined to have occurred.  Such equitable enforcement shall be in addition to, and shall not prejudice the right of the Company to, an appropriate monetary award.  The Employee agrees that, in the event of a breach of any of the covenants set forth in Section 7, the duration of the covenants in Section 7 automatically shall be extended for a period equal to the period of the violation.

6.Return of Documents and Other Property.  

Upon termination of the Employee’s employment, the Employee shall return to the Company all of its property, equipment, documents, records, lists, files and any and all other Company materials including, without limitation, computerized or electronic information, that is in the Employee’s possession as of the Termination Date (the “Company Property”).  The Company Property shall be delivered to the Company at its office at 2400 Xenium Lane North, Plymouth, Minnesota 55441, within three (3) business days after the Termination Date. Unless otherwise agreed by the Company in writing, the Employee shall not retain any Company Property or copies thereof.

7.Reasonableness of Restrictive Covenants.   

The Employee agrees that, due to the uniqueness of the Employee’s position, skills and/or abilities and the uniqueness of the confidential information that the Employee possesses and will possess in the course of his employment with the Company, the covenants set forth herein are reasonable and necessary for the protection of the Company. Nevertheless, if it shall be determined that such covenants are unenforceable in that they are too broad as to their scope or geographical coverage, then the parties hereby confer upon any appropriate court the power to limit such scope or geographical coverage such that they will be enforceable.

8.Employee Release of Company.

In consideration of the Stay Bonus, and for other consideration, Employee, intending to be legally bound, for himself and on behalf of his heirs, successors and assigns, hereby releases, remises and forever discharges the Company and its directors, officers, employees, shareholders, agents, affiliates, successors and assigns (collectively, the “Company Releasees”) of any and all claims, demands, actions, causes of action, rights, suits, accountings, debts, covenants, contracts, agreements, duties and obligations, known or unknown, that he has, had or may have, from the beginning of time to the date hereof against the Company Releasees.

9.Miscellaneous.

(a)This Agreement is meant to be additive to and supplement the Employment Agreement.  In the event of any inconsistency between this Agreement and the Employment Agreement, the terms of the Employment Agreement shall be controlling. 

(b)No consent or waiver, express or implied, by the Company with respect to any breach or default in the performance by the Employee of any of the Employee’s obligations hereunder shall be deemed or construed to be a consent to or waiver of any other breach or default in the performance by the Employee of the same or any other obligations hereunder.  Failure on the part of the Company to complain of any act or omission or to declare the Employee to be in default, irrespective of how long such failure continues, shall not constitute a waiver by the Company of its rights under this agreement or otherwise.

(c)This agreement shall be binding upon and shall inure to the benefit of the Company and the Employee.  The Employee may not assign this agreement.  This agreement shall be governed by and shall be construed and interpreted in accordance with the laws of the State of Minnesota (excluding its principles of conflicts of law).

(d)Although the Company does not guarantee the tax treatment of the Stay Bonus, the intent of the parties is that the Stay Bonus be exempt from the requirements of Section 409A of the Internal Revenue Code and the regulations and guidance promulgated thereunder, and accordingly, to the maximum extent permitted, this Agreement shall be interpreted in a manner consistent therewith.

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

												
		CHRISTOPHER AND BANKS CORPORATION
				
		By:		
				KENT KLEEBERGER
				CHAIRMAN OF THE BOARD OF DIRECTORS AND
				CHAIRMAN OF THE COMPENSATION COMMITTEE
				
		By:		
				EMPLOYEEexhibit_10-1

  EXHIBIT 10.1

 

PROMISSORY NOTE

 

	
$160,000 

	
  December 10, 2020

 

FOR
VALUE RECEIVED, RIVULET MEDIA, INC., a Delaware corporation with an
address of 1206 E.
Warner Rd, Suite 101-I, Gilbert, AZ 85296
(“Maker”), agrees and
promises to pay to the order of DANIEL D. CROSSER, and individual
with an address of 225 12th Street, Manhattan
Beach, CA 90266 (“Holder”), the sum of One
Hundred Sixty Thousand Dollars ($160,000), with such amount payable
to Holder at the address set forth above, or at such other place as
Holder may designate.

 

1. Interest. Interest shall accrue
on the unpaid principal balance of this promissory note (this
“Note”)
at a rate of five percent (5%) per annum until the entire principal
balance is paid in full.

 

2. Payments. The entire balance of
this Note, including accrued interest, is due and payable on or
before March 10, 2021 (the
“Maturity
Date”). Maker may prepay all or any portion of this
Note at any time without penalty.

 

3. Security. This Note is
unsecured.

 

4. Default. The existence or
occurrence of any one or more of the following will constitute an
“Event of
Default” under this Note:

 

4.1           Non-Performance.
Maker’s failure to comply timely and fully with any of the
terms or provisions of this Note, including, without limitation,
the failure to pay all amounts due within ten (10) days after the
due date.

 

4.2           Bankruptcy;
Insolvency. Maker being insolvent by being unable to pay
debts when due or by having liabilities in excess of assets; or
Maker committing an act of bankruptcy, making a general assignment
for the benefit of creditors, or the filing by or against Maker of
a voluntary or involuntary petition in bankruptcy or for the
appointment of a receiver (and any involuntary petition is not
dismissed within thirty (30) days from the filing thereof); or if
there commences under any law relating to bankruptcy, insolvency,
reorganization or relief of debtors, proceedings affecting any
significant part of Maker’s property or for the composition,
extension, arrangement, or adjustment of any of their respective
obligations; or if a writ of attachment, execution, or any similar
process is issued or levied against any significant part of
Maker’s property that is not released, stayed, bonded, or
vacated within a reasonable time after its issue or
levy.

 

5. Default Interest and Foreclosure on
Shares. Upon the occurrence of
an Event of Default, Holder shall be entitled to receive and
Maker shall pay interest on the entire
unpaid principal balance at a rate (the “Default Rate”) equal to ten percent (10%)
per annum. The Default Rate shall be
computed from the occurrence of the Event of Default until payment
in full. This clause, however, shall not be construed as an
agreement or privilege to extend the Maturity Date, nor as a waiver
of any other right or remedy accruing to Holder by reason of the
occurrence of any Event of Default.

 

6. Acceleration. In addition to
all other rights and remedies at law and/or equity Holder may have
if an Event of Default occurs, Holder, at its option without
further notice to Maker, may declare immediately due and payable
the unpaid principal balance of this Note together with all other
sums owed by Maker under this Note.

 

7. Notices. All notices that
Holder or Maker is required or permitted to give under this Note
shall be delivered to the addresses of Maker and Holder as set
forth in the opening paragraph.

 

 

1

 

 

8. Severability. If any term or
provision of this Note is, to any extent, determined by a court of
competent jurisdiction to be invalid or unenforceable, the
remainder of this Note will not be affected, and the invalid or
enforceable term or provision will be reduced or otherwise modified
by the court or authority only to the minimum extent necessary to
make it valid and enforceable. If any term or provision cannot be
reduced or modified to make it reasonable and permit its
enforcement, it will be severed from this Note and the remaining
terms will be interpreted in a way as to give maximum validity and
enforceability to this Note. It is the intention of Maker that, if
any provision of this Note is capable of two constructions, one of
which would render the provisions void and the other of which would
render the provisions valid, then the provision will have the
meaning that renders it valid.

 

9. Time of the Essence. Time is of
the essence of this Note. Whenever notice must be given, payment
made, document delivered, or an act done under this Note on a day
that is not a Business Day, the notice may be given, payment made,
document delivered, or act done on the next following day that is a
Business Day. “Business Day” means a day
other than a Saturday, Sunday, or a day observed as a legal holiday
by the United States government or the State of
Arizona.

 

10. Governing Law; Jurisdiction and
Venue. This Note is to be governed by and interpreted in
accordance with the laws of the State of Arizona. Any legal action
or proceeding with respect to this Note or any document related
hereto shall be brought in Maricopa County, Arizona in any court of
competent jurisdiction, and, by execution and delivery of this
Note, Maker and the Holder hereby accept the jurisdiction and venue
of such courts.

 

11. Successors and Assigns. This
Note shall be binding upon and inure to the benefit of Maker and
Holder and their respective successors and permitted assigns. Maker
may not voluntarily or involuntarily transfer, convey, or assign
this Note, or any of its duties or obligations hereunder, without
Holder’s prior written consent, which may be withheld for any
reason, or for no reason at all. As used herein, the term
“Holder” means and includes the successors and
permitted assigns of the Holder.

 

12. Absolute Obligation. Except as
expressly provided herein, no provision of this Note shall alter or
impair the obligation of Maker, which is absolute and
unconditional, to pay the principal amount and accrued interest of
this Note at the time, place, and rate, and in the currency, herein
prescribed. This Note is a direct debt obligation of
Maker.

 

13. Attorneys’ Fees and
Costs. Each party shall bear its own expenses in connection
with the issuance of this Note; provided, however, that if any
action at law or in equity is necessary to enforce or interpret the
terms of this Note, the prevailing party shall be entitled to its
reasonable attorneys’ fees, costs, and disbursements in
addition to any other relief to which such party may be
entitled.

 

14. No Waiver by Holder. No delay
or failure of Holder in exercising any right hereunder shall affect
such right, nor shall any single or partial exercise of any right
preclude further exercise thereof.

 

	
 

	

MAKER

Rivulet
Media, Inc., a Delaware corporation

 

 

By:
/s/ Michael
Witherill                                       

      Michael Witherill,
President and CFO

  

	

 

 

 

 

 

 

 

 

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