Document:

Exhibit 10.33

 

EMPLOYMENT AGREEMENT

 

This Employment Agreement (this “Agreement”) is
between XELR8, Inc. (the “Company”) and Douglas Ridley (“Employee”), and
is executed effective as of May 2, 2008 (the “Effective Date”) in
connection with and consideration of the increased compensation and termination
payment set forth herein, and other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged.

 

1.                                       Services to be Rendered by Employee.  The Company hereby employs, engages and hires
Employee in the capacity of President, and Employee hereby accepts and agrees
to such hiring, engagement and employment. 
Employee agrees to perform any and all duties and to assume any and all
responsibilities that may be assigned from time to time by the Company or its
authorized agents.  Employee will devote
his full-time, energy and skill to the performance of these duties and for the
benefit of the Company.  Employee shall
also exercise due diligence and care in the performance of all duties performed
for the Company under this Agreement.

 

2.                                       Term; Termination.

 

A.            Term.  Subject
to the terms and conditions of this Agreement, the Company will employ
Employee, and Employee will serve the Company, for two years from the effective
date of this Agreement.  Upon the
expiration of the initial term, this Agreement will automatically renew for
successive periods of one year each, unless the Company provides written notice
to Employee of its intention not to renew the Agreement at least 90 days prior to
the expiration of the then-current term in accordance with Section 2(B)(ii) below.

 

B.            Termination by the Company.  Employee’s employment may be terminated by
the Company during the term of this Agreement only as follows:

 

i.            At any time without cause upon 90
days prior written notice to Employee;

 

ii.           In connection with the expiration of
the then-current term of this Agreement with written notice to Employee at
least 90 days prior to such expiration date; and

 

iii.          At any time without prior written notice
to Employee for “Cause”. Termination for Cause shall be defined as any of the
following from and after the Effective Date:

 

(a)           Any willful breach of any
material written policy of the Company that results in material and
demonstrable liability or loss to the Company or that continues after written
notice;

 

(b)           Willful failure to perform
or gross negligence in connection with the performance of Employee’s duties;

 

(c)           The engaging by Employee in
conduct involving moral turpitude that causes material and demonstrable injury,
monetarily or otherwise, to the Company, including, but not limited to,
misappropriation or conversion of assets of the Company (other than immaterial
assets);

 

 

(d)           Conviction of or entry of a
plea of nolo contendere to a felony;

 

(e)           A material breach of this
Agreement, including by engaging in action in violation of the restrictive
covenants in this Agreement;

 

(f)            Any other conduct or
activity that the Chief Executive Officer determines in good faith jeopardizes
the proper conduct of the Company’s operations if such conduct or activity
continues to occur after written notice; or

 

(g)           Death or inability to
perform substantially all of the duties of the position due to illness or
disability, if such inability lasts longer than ninety (90) days and cannot be
alleviated by reasonable accommodation.

 

No act or failure to act by the Employee shall be
deemed “willful” if done, or omitted to be done, by him in good faith and with
the reasonable belief that his action or omission was in the best interest of
the Company.

 

C.            Termination by Employee.  Employee may terminate his employment by the
Company at any time by giving 90 days prior written notice thereof to the
Company.

 

D.            Effect of Termination.

 

i.            Termination Payment.  If Employee’s employment by the Company is
terminated by Employee or by the Company, all compensation under Section 3
of this Agreement that has accrued in favor of Employee as of the date of such
termination, to the extent unpaid or undelivered, will be paid or delivered to
Employee on the effective date of termination. 
If Employee’s employment is terminated pursuant to Section 2(B)(i) of
this Agreement, the Company will continue to pay to Employee his annual salary
(at the rate in effect at the time of termination of his employment) as and
when the same would otherwise be due in accordance with this Agreement for three
(3) months from the effective date of such termination, in lieu of all
other amounts and in settlement and complete release of all claims the Employee
may have against the Company (as set forth in a valid release of the Company
and its agents and affiliates signed by the Employee).

 

ii.           Termination of Obligations of Company.  Upon termination of Employee’s employment
pursuant to Section 2(B) or Section 2(C), and payment of the Termination
Payment set forth in Section 2(D)(i), if applicable, the Company’s
obligations under this Agreement will terminate.

 

iii.          No Termination Payment.  Employee shall not be entitled to the
Termination Payment in the event that the Company terminates Employee’s
employment in connection with the expiration of the then-current term of this
Agreement pursuant to Section 2(B)(ii) above or for Cause pursuant to
Section 2(B)(iii) above, or if the Employee terminates the employment
pursuant to Section 2(C) above.

 

iv.          Effect of Termination on Vesting of Stock Options.  In the event that Employee’s employment is
terminated by the Company pursuant to Section 2(B)(i) above, all 

 

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unvested
options owned by Employee to purchase common stock of XELR8 Holdings, Inc.
shall vest as of the effective date of such termination.  In the event that Employee’s employment is
terminated by the Company in connection with the expiration of the then-current
term of this Agreement pursuant to Section 2(B)(ii) above, Employee
may exercise vested options in accordance with the terms of the XELR8 Holdings, Inc.
2003 Stock Incentive Plan (the “Plan”). 
In the event that Employee’s employment is terminated for Cause pursuant
to Section 2(B)(iii) above, Employee will forfeit all unvested
options.  Employee may exercise vested
options in accordance with the terms of the Plan.

 

3.                                       Compensation; Benefits.

 

A.            Base Salary. 
During the term of this Agreement, the Company will pay to Employee base
salary (“Base Salary”) at the initial rate of $193,000 (One Hundred Ninety
Three Thousand and No/100 dollars) per annum.

 

B.            Increased Base Salary.

 

i.            For each month during the term of
this Agreement that the Company’s Monthly Net Receipts (as defined below)
exceeds $1,000,000 (One Million and No/100 dollars), Employee’s Base Salary
shall be increased to $220,000 (Two Hundred Twenty Thousand and No/100 dollars)
per annum for the following calendar month, provided that Employee is employed
by the Company during such following calendar month.  With respect to each calendar month in which
Monthly Net Receipts are less than $1,000,000, Employee shall receive the Base
Salary set forth in Section 3.A., notwithstanding that Employee may have
previously received the increased Base Salary provided for in this Section 3.B.

 

ii.           “Monthly Net Receipts” means the cash
receipts, excluding shipping revenue of the Company for a calendar month net of
returns and taxes.

 

C.            Additional Bonus. 
Employee will be eligible to participate in any bonus program
established by the Compensation Committee of the Board of Directors of the
Company (the “Compensation Committee”), provided that Employee is eligible by
the terms thereof to participate therein.

 

D.            Benefit Plans. 
Employee will be entitled to participate in all formal retirement,
insurance, hospitalization, disability and other employee benefit plans that
are in existence or may be adopted by the Company or in which employees of the
Company are eligible to participate, provided that Employee is eligible by the
terms thereof and applicable law to participate therein.

 

E.             Options.  The
Company hereby grants to Employee, as of the Effective Date, non-statutory
stock options (the “Options”) to purchase up to 50,000 shares of the Company’s
common stock (the “Option Shares”) at a price of $1.18 per share.  All of the Options shall vest and become exercisable,
if at all, on the last day of the fiscal quarter in which the Company achieves
$6,000,000 (Six Million Dollars) in revenue with respect to such quarter.

 

3

 

The Options shall have a term of five years (the “Option Term”),
measured from the Effective Date, and shall accordingly expire at the close of
business at the end of the Option Term or on the date on which the option shall
have been fully exercised in accordance with this Agreement, unless sooner
terminated in accordance with the 2003 XELR8 Option Plan (the “Plan”).  The grant of the Options under this Agreement
is made pursuant to the Plan and is in all respects governed by, limited by and
subject to the terms of the Plan, except that the Option Term has been established
in the discretion of the Plan administrator.

 

F.             General.  All
payments under this Agreement will be subject to applicable withholding and
similar taxes and will, if applicable, be prorated for the applicable period.  Employee’s Base Salary and other compensation
will be paid to Employee in accordance with the Company’s regular policy.  The Compensation Committee will, in its sole
discretion, periodically review Employee’s Base Salary and other compensation.

 

4.                                       Protection of Trade Secrets and Confidential Information.

 

A.            Definition of “Confidential Information.  “Confidential Information” means all
nonpublic information concerning or arising from the Company’s business,
including particularly but not by way of limitation trade secrets used,
developed or acquired by the Company in connection with its business;
information concerning the manner and details of the Company’s operation,
organization and management; financial information and/or documents and
nonpublic policies, procedures and other printed or written material generated
or used in connection with the Company’s business; the Company’s business plans
and strategies; the identities of the Company’s customers and the specific
individual customer representatives with whom the Company works; the details of
the Company’s relationship with such customers and customer representatives; the
identities of distributors, contractors and vendors utilized in the Company’s
business; the details of the Company’s relationship with such distributors,
contractors and vendors; the nature of fees and charges made to the Company’s
customers; nonpublic forms, contracts and other documents used in the Company’s
business; the nature and content of computer software used in the Company’s
business, whether proprietary to the Company or used by the Company under
license from a third party; and all other information concerning the Company’s
concepts, prospects, customers, employees, contractors, earnings, products,
services, equipment, systems and/or prospective and executed contracts and
other business arrangements.

 

B.            Employee’s Use of Confidential Information.  Except in connection with and in furtherance
of Employee’s work on the Company’s behalf, Employee shall not, without the
Company’s prior written consent, at any time, directly or indirectly, use,
disclose or otherwise communicate any Confidential Information to any person or
entity.

 

C.            Acknowledgments. 
Employee acknowledges that during the term of his employment, Employee
will have access to Confidential Information, all of which shall be made
accessible to Employee only in strict confidence; that unauthorized disclosure
of Confidential Information will damage the Company’s business; that
Confidential Information would be susceptible to immediate competitive
application by a competitor of the Company; that the Company’s business is
substantially dependent on access to and the continuing secrecy of Confidential
Information; that Confidential Information is unique to the Company and known 

 

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only to Employee, the Company and certain key employees and contractors
of the Company; that the Company shall at all times retain ownership and
control of all Confidential Information; and that the restrictions contained in
this paragraph are reasonable and necessary for the protection of the Company’s
business.

 

D.            Records Containing Confidential Information.  All documents or other records containing or
reflecting Confidential Information (“Confidential Documents”) prepared by or
provided to Employee are and shall remain the Company’s property.  Except with the Company’s prior written
consent, Employee shall not copy or use any Confidential Document for any
purpose not relating directly to Employee’s work on the Company’s behalf, or
use, disclose or sell any Confidential Document to any party.  Upon the termination of Employee’s employment
or upon the Company’s request, Employee shall immediately deliver to the
Company or its designee (and shall not keep in Employee’s possession or deliver
to anyone else) all Confidential Documents and all other property belonging to
the Company.  This paragraph shall not
bar Employee from complying with any subpoena or court order, provided that
Employee shall at the earliest practicable date provide a copy of the subpoena
or court order to the Chief Executive Officer of the Company.

 

E.             Employee’s Former Employers’ Confidential Information.  Employee shall not, during Employee’s
employment with the Company, improperly use or disclose to the Company any
proprietary information or trade secrets belonging to any former employer or
any third party as to whom Employee owes a duty of nondisclosure.

 

5.             Non-Solicitation.  During the term of Employee's employment and for
a period of: (a) three (3) months after termination of Employee's employment or
the expiration of the then-current term of this Agreement, if Employee is
terminated by the Company without Cause pursuant to Section 2.B.(i) or (b)
twelve (12) months after termination of Employee's employment or the expiration
of the then-current term of this Agreement, if Employee's employment terminates
for any reason other than a termination pursuant to Section 2(b)(i), Employee
shall not, without the Company's prior written consent, directly or indirectly:

 

A.            Cause
or attempt to cause any employee, agent, distributor, endorser or contractor of
the Company to terminate his or her employment, agency, distributor, endorser
or contractor relationship with the Company; interfere or attempt to interfere
with the relationship between the Company and any employee, agent, distributor,
endorser or contractor of the Company or, except with respect to contractors
introduced by Employee to the Company, such as the Company's marketing agency
and its product manufacturer, hire or attempt to hire any employee, agent,
distributor, endorser or contractor of the Company; or

 

B.            Solicit
business from any customer or client served by the Company at any point during
the term of Employee's employment; or interfere or attempt to interfere with
any transaction, agreement or business relationship in which the Company was involved
at any point during the term of Employee's employment.

 

6.                                       Inventions.

 

A.            Disclosure. 
Upon the Company’s request, Employee shall promptly disclose to the
Company, in a manner specified by the Company in its sole discretion, all ideas
(including new products), processes, trademarks and service marks, inventions,
discoveries and improvements to any of the foregoing, that Employee learns of,
conceives, develops or creates alone or with others during the term of Employee’s
employment (whether or not conceived, developed or created during working
hours) that directly or indirectly arises from or relates to: (i) 

 

5

 

the Company’s business; (ii) work performed for the Company by
Employee or any other Company employee; (iii) the use of the Company’s
property or time; or (iv) access to the Company’s Confidential Information
and/or Confidential Documents.

 

B.            Assignment. 
Employee assigns to the Company, without further consideration, Employee’s
entire right to any concept, idea or invention described in the preceding
paragraph, which shall be the sole and exclusive property of the Company
whether or not subject to patent, copyright, trademark or trade secret
protection under applicable law. 
Employee also acknowledges that all original works of authorship that
are made by Employee (solely or jointly with others), within the scope of
Employee’s employment, and that are protectable by copyright, are “works made
for hire,” as that term is defined in the United States Copyright Act (17
U.S.C. § 101).  To the extent that any
such works, by operation of law, cannot be “works made for hire,” Employee
assigns to the Company all right, title and interest in and to such works and
to any related copyrights.

 

C.            Additional Instruments.  Employee shall promptly execute, acknowledge
and deliver to the Company all additional instruments or documents deemed at
any time by the Company in its sole discretion to be necessary to carry out the
intentions of this paragraph.

 

7.                                       Survival. 
Employee’s obligations under this Agreement shall survive the
termination of Employee’s employment and shall thereafter be enforceable
whether or not such termination is later claimed or found to be wrongful or to
constitute or result in a breach of any contract or of any other duty owed or
claimed to be owed by the Company to Employee.

 

8.                                       Remedies. 
Employee acknowledges that upon a breach of any obligation under this Agreement,
the Company will suffer immediate and irreparable harm and damage for which
money alone cannot fully compensate the Company.  Employee therefore agrees that upon such
breach or threat of imminent breach of any obligation under this Agreement, the
Company shall be entitled to, and Employee shall not oppose entry of, a
temporary restraining order, preliminary injunction, permanent injunction or
other injunctive relief, without posting any bond or other security, barring
Employee from violating any such provision. This paragraph shall not be
construed as an election of any remedy, or as a waiver of any right available
to the Company under this Agreement or the law, including the right to seek
damages from Employee for a breach of any provision of this Agreement, nor
shall this paragraph be construed to limit the rights or remedies available
under Colorado law for any violation of any provision of this Agreement.

 

9.                                       Miscellaneous.

 

A.            Entire Agreement. 
This Agreement constitutes the entire agreement between the Company and
Employee and supersedes all prior oral or written agreements and understandings
with respect to the subject matter hereof.

 

B.            Heirs and Assigns. 
This Agreement shall be binding upon Employee’s heirs, executors,
administrators or other legal representatives, shall inure to the benefit of
the Company, its successors or assigns, and shall be freely assignable by the
Company, but not by Employee.

 

6

 

C.            Governing Law. 
This Agreement and all other disputes or issues arising from or relating
in any way to the Company’s relationship with Employee, shall be governed by
the internal laws of the State of Colorado, irrespective of the choice of law rules of
any jurisdiction.

 

D.            Severability. 
If any court of competent jurisdiction declares any provision of this Agreement
invalid or unenforceable, the remainder of the Agreement shall remain fully
enforceable.  To the extent that any
court concludes that any provision of this Agreement is void or voidable, the
court shall reform such provision(s) to render the provision(s) enforceable,
but only to the extent absolutely necessary to render the provision(s) enforceable
and only in view of the parties’ express desire that the Company be protected
to the greatest extent possible under applicable law from improper competition
and/or the misuse or disclosure of trade secrets, Confidential Documents and/or
Confidential Information.

 

E.             Disputes. 
Any action arising from or relating any way to this Agreement, or
otherwise arising from or relating to Employee’s employment with the Company, shall
be tried only in the state or federal courts situated in Denver, Colorado.  The parties consent to jurisdiction and venue
in those courts to the greatest extent possible under law.  The prevailing party in any action to enforce
any provision of this Agreement shall recover all costs and attorneys’ fees
incurred in connection with the action.

 

IN WITNESS WHEREOF, the
undersigned has executed this Employment Agreement to be effective as of the Effective
Date.

 

	
  EXECUTED this 2nd day of May, 2008.

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  EMPLOYEE:

  	
   

  	
  COMPANY:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  XELR8, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  /s/ 

  	
  Douglas Ridley

  	
   

  	
  By

  	
  :  /s/ John
  D. Pougnet

  
	
  Name:

  	
  Douglas Ridley

  	
   

  	
  Name:

  	
  John D. Pougnet

  
	
  Title:

  	
  President

  	
   

  	
  Title:

  	
  Chief Executive Officer and Chief

  
	
   

  	
   

  	
   

  	
  Financial Officer

  
							

 

7EXHIBIT 10.1

 

EXHIBIT A

 

AMENDMENT
NO. 1 TO THE

EXECUTIVE EMPLOYMENT AGREEMENT 

BETWEEN 

CHRISTOPHER & BANKS CORPORATION 

AND 

LORNA NAGLER

 

This AMENDMENT NO. 1 TO THE EXECUTIVE EMPLOYMENT AGREEMENT (this “Amendment”)
is made as of the        day of
              ,
2008, between Christopher & Banks Corporation, a Delaware corporation
(the “Corporation”), and Lorna Nagler (the “Executive”).

 

WHEREAS, the Corporation and the Executive entered into the Executive
Employment Agreement dated August 30, 2007 (the “Agreement”);

 

WHEREAS, the Corporation and the Executive desire to make certain
modifications to the Agreement to reflect governance actions taken by the Board
of Directors since the date of the Agreement and to reflect more accurately the
understandings of the parties with respect to certain of the subjects covered
thereby; and

 

WHEREAS, Article 20 provides that modifications to the Agreement
must be in writing and signed by the parties to the Agreement.

 

NOW, THEREFORE, for good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the Corporation and the Executive
hereby agree to amend the Agreement, effective as of the date hereof, as
follows:

 

1.                     The second
sentence in Section 4.1 of the Agreement is hereby amended in its entirety
to read as follows:

 

“If this Agreement
remains in effect after the close of fiscal year 2010, for each fiscal year
thereafter, Executive’s base salary shall be reviewed and adjustments, if any,
shall be determined by the Compensation Committee of the Board of Directors of
the Corporation (or any successor committee thereto, the “Compensation
Committee”) in its sole discretion; however, such base salary cannot be reduced
below $850,000 or the Executive’s base salary for fiscal year 2010, whichever
is higher.”

 

2.                     The third
and fourth sentences in Section 4.2 of the Agreement are hereby amended in
their entirety to read as follows:

 

“On the date of the
Corporation’s first Board of Director’s meeting in 2008, the Corporation shall
grant to Executive non-qualified stock options covering 1,300 shares, effective
as of April 14, 2008, and vesting to the 

 

 

extent of 434 shares on August 31,
2008 with an additional 433 shares vesting on each of August 31, 2009 and August 31,
2010, respectively, assuming Executive continues to be employed with the
Corporation on such dates.  The exercise
price of such stock options will be the closing price of the Corporation’s
Common Stock on the New York Stock Exchange on April 14, 2008.”

 

3.                     The first
sentence in Section 4.3 of the Agreement is hereby amended in its entirety
to read as follows:

 

“As of the effective date
of this Agreement, the Corporation shall grant to Executive 40,000 shares of
its Common Stock as a restricted stock grant and, provided Executive continues
to be employed by the Corporation as its Chief Executive Officer and has not
given any notice of resignation before or on such dates, effective on the first
day in the Corporation’s trading window in 2008, 2009, 2010 and 2011 following
the issuance and announcement of the prior year’s earnings, the Corporation
shall grant to Executive additional restricted stock grants of 40,000 shares of
the Corporation’s Common Stock on each such date.”

 

4.                     Section 4.7
of the Agreement is hereby amended in its entirety to read as follows:

 

“Executive shall be
entitled, during each full calendar year in which this Agreement remains in
effect, to 23 days of paid time off (“PTO”), and a pro rata portion thereof for
any partial calendar year of employment. 
Except as expressly provided in the Corporation’s PTO policy, any PTO
not used during any such calendar year may not be carried forward to any
succeeding calendar year and shall be forfeited.  Employee shall not be entitled to receive any
payment in cash for PTO remaining unused at the end of any year.  At separation from employment, the
Corporation will pay Executive for any unused PTO in the year of such
separation, prorated from January 1 of the year of separation through
Executive’s last day of employment to the extent consistent with the terms of
the Corporation’s PTO policy.”

 

5.                     The second
sentence in Section 4.9 of the Agreement is hereby amended in its entirety
to read as follows:

 

“The Corporation will: (1) pay
for Executives’ coach round-trip airfare, lodging and car rental while on
house-hunting trips to the Minneapolis-St. Paul area; (2) pay for and
arrange the pack and move of Executive’s household goods through one of its
preferred carriers; (3) pay for the transport of up to two of Executive’s
personal vehicles from Powell, Ohio to the Minneapolis-St. Paul area; (4) pay
up to $5,000 per month for up to twelve (12) months of temporary living
expenses in corporate housing/apartment while Executive secures a permanent
place of residence in the Minneapolis-St. Paul area; (5) in the event that
Executive purchases a residence in the Minneapolis-St. Paul area before the end
of her first 

 

2

 

eighteen (18) months of
employment but has not yet sold her home in Powell, Ohio during such time
period, reimburse Executive for her mortgage payments on the Powell, Ohio
residence up to $5,000 per month until the earlier of the sale of her Powell,
Ohio residence or the end of such eighteen (18) month period; (6) reimburse
Executive for a maximum of 6% realtor fees associated with the sale of her
residence in Powell, Ohio; (7) reimburse Executive for her closing costs
in connection with her purchase of a home in the Minneapolis-St. Paul area; (8) to
protect Executive against a potential loss on the sale of her home in Powell,
Ohio, pay Executive an amount equal to the difference, if any, between
Executive’s purchase price of her home in Powell, Ohio and the sale price for
such home, up to $200,000; and (9) reimburse Executive for up to $50,000
of other, miscellaneous expenses incurred in connection with her move to the
Minneapolis-St. Paul area and the sale of her home, in each case with respect
to this clause (9), at the sole discretion of, and as approved in writing by,
the Chairman of the Board of Directors.”

 

6.                     The third
sentence in Section 5.1 of the Agreement is hereby amended in its entirety
to read as follows:

 

“The death benefit shall
be in the amount of $2,500,000, of which $1,500,000 is in the form of whole
life insurance and $1,000,000 is in the form of term life insurance; provided,
however, that the Corporation shall use commercially reasonable efforts to
convert the $1,000,000 in term life insurance into whole life insurance as soon
as reasonably practicable.”

 

7.                     The heading
of Article 20 of the Agreement shall be changed to “Entire Agreement;
Amendments” and the second sentence of Section 20.1 is hereby amended in
its entirety to read as follows:

 

“The parties further
agree that no amendments of this Agreement may be made except by means of a
written agreement or memorandum signed by the parties and approved by the
Corporation’s Board of Directors or its Compensation Committee.”

 

8.                     The first
sentence of Exhibit A is hereby amended in its entirety to read as follows:

 

“Your employment
agreement provides for the future grant of 40,000 shares of Restricted Stock to
be made in each of the years 2008, 2009, 2010 and 2011 effective on the first
day in the Corporation’s trading window in 2008, 2009, 2010 and 2011 following
the issuance and announcement of the prior year’s earnings, which grants shall
each be subject to a risk of forfeiture that shall lapse for each grant on the
date that is one year after the date of that grant (the grant “anniversary date”);
provided that (i) you have been continuously employed by the Corporation
through such anniversary date and have not given any notice of resignation
before or on that date and (ii) the Corporation has satisfied certain
performance conditions for the fiscal year in which the grant was 

 

3

 

made, as described below
(such performance conditions to be consistent with those set forth in the
restricted stock agreements of the other senior executives of the Corporation)
or such alternative performance criteria that you and the Corporation mutually
agree upon.”

 

Further, the following
paragraph is hereby added to Exhibit A as a new, last paragraph thereof:

 

“Further, the Corporation
agrees that, subject to the terms and conditions established from time to time
by the Compensation Committee of the Corporation and set forth in the relevant
forms of any plans and agreements approved by that Committee, you will be
eligible to participate in, and will receive appropriate consideration by that
Committee for, awards to be made under long-term incentive equity award
programs that are approved by such Committee for use with senior executives of
the Corporation.”

 

9.                     No other
terms or conditions of the Agreement are amended hereby, and all such terms and
conditions of the Agreement shall remain in full force and effect.

 

10.                   The parties
hereby agree that this Amendment shall be construed in accordance with the
internal laws of the State of Minnesota without regard to the conflict of laws
thereof.

 

11.                   The parties
hereby agree that they may amend and restate the Agreement to include all of
the substantive terms of this Amendment in a consolidated amended and restated
executive employment agreement.

 

IN WITNESS WHEREOF, the Corporation
and the Executive have executed this Amendment as of the date and year first
written above.

 

 

	
   

  	
  CHRISTOPHER &
  BANKS CORPORATION

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Larry
  Barenbaum

  
	
   

  	
   

  	
  Name:

  	
  Larry Barenbaum

  
	
   

  	
   

  	
  Title:

  	
  Chairman

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  EXECUTIVE

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  /s/ Lorna Nagler

  
	
   

  	
  Lorna Nagler

  
					

 

4

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