Document:

Exhibit 10.12

 

THIRD AMENDMENT TO

AAR CORP. NONEMPLOYEE DIRECTORS’

DEFERRED COMPENSATION PLAN

 

WHEREAS,
AAR CORP., a Delaware corporation (the “Company”) maintains the
AAR CORP. Nonemployee Directors’ Deferred Compensation Plan as amended and
restated effective April 8, 1997 (the “Plan”); and

 

WHEREAS, the Company
amended the Plan effective May 26, 2000 and December 18, 2002, and
now deems it appropriate to further amend the Plan in certain respects.

 

NOW, THEREFORE, the
Plan is hereby amended, effective July 1, 2003 as follows:

 

1.                                       Paragraph (h)
of Section V is hereby amended to read as follows:

 

“(h)                           Notwithstanding
any provision in the Plan to the contrary, the following provisions shall apply
to all amounts credited to each Participant’s Stock Unit Account and his Cash
Account (“Accounts”) following the first to occur of:  (i) a drop in the overall credit rating of the Company below
S&P BB or Moody’s Ba; (ii) a drop in the Company’s market capitalization
below $75 million for five (5) consecutive trading days; (iii) a
drop in the aggregate of cash and existing available bank lines of the Company
below $35 million; and (iv) receipt of a notice of material adverse
change under any of the Company’s then existing debt agreements:

 

(1)                                During
the thirty day period commencing on the date an event described in
clause (i), (ii), (iii), or (iv) occurs, the Company, in its sole
discretion, may distribute all or any portion of a Participant’s Accounts,
including credits, dividends and interest credited in accordance with
Section IV to the date of distribution, to him in a lump sum as the
Company deems appropriate and in the best interest of the Company.

 

(2)                                No
distribution due to the occurrence of an event described in clause (i),
(ii), (iii), or (iv) shall be made from and after the thirtieth day
following the date of such event.

 

(3)                                Following
the expiration of the thirty day period following the date of an event
described in clause (i), (ii), (iii), or (iv), a Participant shall
continue to make deferrals pursuant to Section III.

 

(4)                                The
Company shall be entitled to make separate decisions in accordance with
clause (1) with respect to the interests of each Participant hereunder.”

 

 

2.                                       Paragraph (m)
of Section VIII is hereby amended to read as follows:

 

“(m)  Notwithstanding anything to the contrary
contained in the Plan, (i) if the Internal Revenue Service prevails in a
claim by it that amounts credited to a Participant’s Accounts, and/or earnings
thereon, constitute taxable income to the Participant or his beneficiary for
any taxable year of his prior to the taxable year in which such credits and/or
earnings are distributed to him or (ii) legal counsel satisfactory to the
Company and the applicable Participant or his beneficiary renders an opinion
that the Internal Revenue Service would likely prevail in such a claim, the
balance of such Participant’s Accounts, to the extent constituting taxable
income, shall be immediately distributed to the Participant or his
beneficiary.  For purposes of this
paragraph, the Internal Revenue Service shall be deemed to have prevailed in a
claim if such claim is upheld by a court of final jurisdiction, or if the
Company, or a Participant or beneficiary, based upon an opinion of legal
counsel satisfactory to the Company and the Participant or his beneficiary,
fails to appeal a decision of the Internal Revenue Service, or a court of
applicable jurisdiction, with respect to such claim, to an appropriate Internal
Revenue Service appeals authority or to a court of higher jurisdiction, within
the appropriate time period.”

 

IN WITNESS WHEREOF,
this Third Amendment has been executed on this 25th day of August, 2003.

 

 

	
   

  	
  AAR CORP.

  
	
   

  
	
   

  
	
   

  	
  By:

  	
  /s/ DAVID P. STORCH

  
	
   

  	
  David P. Storch, President

  

 

2Exhibit 10.52

 

WAIVER

 

This Waiver (“Waiver”) is made as of this October 8, 2003, by
and between Landec Corporation (the “Company”) and Seahawk Ranch
Irrevocable Trust (“Seahawk”).

 

RECITALS

 

A.            As
of the date hereof, Seahawk is the holder of 164,099 shares of Series B
Preferred Stock of the Company (“Series B Preferred”), constituting all
of the outstanding shares of Series B Preferred.

 

B.            Pursuant
to Paragraph 2, Section 2(A)(v) of the Certificate of Determination of Rights,
Preferences and Privileges of Series B Preferred Stock (the “Certificate”)
of the Company, holders of shares of Series B Preferred are entitled to receive
dividends payable in additional shares of Series B Preferred in accordance with
the following rate schedule (the “Original Rate Schedule”):

 

“Dividend Rate” shall mean an annual
rate of eight percent (8%) until and including the second-year anniversary of
the Purchase Date; and thereafter an annual rate of ten percent (10%) until and
including the third-year anniversary of the Purchase Date; and thereafter an
annual rate of twelve percent (12%).

 

C.            Seahawk
desires to extend the periods during which shares of Series B Preferred accrue
dividends at a rate of eight percent (8%) and ten percent (10%), respectively,
from the   periods ending on the
second-year and third-year anniversaries of the date of the original sale of
such shares (the “Purchase Date”), to the periods ending on the
third-year and fourth-year anniversaries of the Purchase Date.

 

AGREEMENT

 

In consideration of the foregoing and the mutual promises contained in
this Agreement, the parties hereby agree as follows:

 

1.             Waiver.  Seahawk hereby waives its right to receive
dividends in accordance with the Original Rate Schedule, and notwithstanding
anything contained in the Certificate to the contrary, agrees to receive
dividends in accordance with the following revised rate schedule:

 

“Dividend Rate” shall mean an annual
rate of eight percent (8%) until and including the third-year anniversary of
the Purchase Date; and thereafter an annual rate of ten percent (10%) until and
including the fourth-year anniversary of the Purchase Date; and thereafter an
annual rate of twelve percent (12%).

 

2.             Miscelleneous

 

(a)                                  This
Waiver and all acts and transactions pursuant hereto and the rights and
obligations of the parties hereto shall be governed, construed and interpreted
in accordance with the laws of the State of California, without giving effect
to principles of conflicts of law.

 

 

(b)                                 This
Waiver may be executed in one or more counterparts, each of which shall be
deemed an original and all of which together shall constitute one instrument.

 

(c)                                  This
Waiver may only be amended by the written consent of the Company and Seahawk.

 

(d)                                 This
Waiver shall be binding upon Seahawk’s successors and assigns, if any.

 

The
parties have executed this Waiver as of the date first written above.

 

 

	
   

  	
  SEAHAWK RANCH
  IRREVOCABLE

  TRUST

  
	
   

  
	
   

  
	
   

  	
  By:

  	
   /s/ Kenneth E. Jones

  	
   

  
	
   

  	
  Kenneth E. Jones, Trustee

  
	
   

  
	
   

  	
  Address:

  	
  550 Pilgrim
  Drive, Suite F

  
	
   

  	
  Foster City, CA
  94404

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  LANDEC CORPORATION

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   /s/ Gary T. Steele

  	
   

  
	
   

  	
  Gary T. Steele,
  President and CEO

  
	
   

  
	
   

  	
  Address:

  	
  Landec
  Corporation

  
	
   

  	
  3603 Haven
  Avenue

  
	
   

  	
  Menlo Park,
  CA  94025

  
					

 

2Exhibit
10.49

 

FIFTH
AMENDMENT TO THE

CHRISTOPHER
& BANKS CORPORATION

1997
STOCK INCENTIVE PLAN

 

July 30, 2003

 

RECITALS:

 

A.            The Christopher &
Banks Corporation 1997 Stock Incentive Plan (the “Plan”) was adopted by the
Board of Directors of Christopher & Banks Corporation (the “Company”) and
was approved by the shareholders of the Company on July 17, 1997 and amended on
July 22, 1998, July 28, 1999, July 26, 2000 and August 1,
2001.  The Plan is now in full force and
effect.

 

B.            The Company desires to
amend the Plan to increase the number of shares of common stock available for
issuance under the Plan in accordance with the Company’s annual meeting of
shareholders held on July 30, 2003.

 

AMENDMENT:

 

THEREFORE, the Plan is hereby amended as follows:

 

1.             The first
sentence of paragraph 4 of the Plan is hereby amended to read as follows:

 

“4.  Stock Subject to the Plan.  The aggregate number of shares subject to
the Plan shall be Four million Six Hundred Forty-two Thousand One hundred
Eighty-eight (4,642,188) shares of the Common Stock of the Company, $.01 par
value per share.”

 

2.             The
foregoing amendment shall be effective as of July 30, 2003, the date the
shareholders approved this Amendment.

 

3.             Except
as modified hereby, the Plan shall continue in full force and effect.

 

IN WITNESS WHEREOF, the Company has caused this
Amendment to be executed by its duly authorized officer as of July 30, 2003.

 

	
   

  	
  CHRISTOPHER & BANKS CORPORATION

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Andrew K. Moller

  	
   

  
	
   

  	
   

  	
  Andrew K. Moller

  
	
   

  	
   

  	
  Chief Financial OfficerExhibit 10.50

 

FIFTH AMENDMENT TO AMENDED AND
RESTATED REVOLVING CREDIT AND

SECURITY AGREEMENT

 

This Amendment, dated as
of August 18, 2003, is made by and between CHRISTOPHER & BANKS, INC., a
Minnesota corporation, formerly known as Braun’s Fashions, Inc. (“CBI”),
CHRISTOPHER & BANKS COMPANY, a Minnesota corporation (“CBCO” and together
with CBI, the “Borrower”), WELLS FARGO BANK MINNESOTA, NATIONAL ASSOCIATION, a
national banking association, formerly known as Norwest Bank Minnesota,
National Association (the “Lender”), and CHRISTOPHER & BANKS CORPORATION, a
Delaware corporation, formerly known as Braun’s Fashions Corporation (the
“Guarantor”).

 

Recitals

 

CBI, CBCO and the Lender
are parties to that certain Amended and Restated Revolving Credit and Security
Agreement dated as of March 15, 1999, as amended by that certain First
Amendment to Amended and Restated Revolving Credit and Security Agreement dated
September 17, 1999, that certain Second Amendment to Amended and Restated
Revolving Credit and Security Agreement dated as of September 19, 2000, that
certain Third Amendment to Amended and Restated Revolving Credit and Security
Agreement, dated as of February 23, 2001, and that certain Fourth Amendment to
Amended and Restated Revolving Credit and Security Agreement dated as of
February 28, 2002 (the “Credit Agreement”). Capitalized terms used in these
recitals have the meanings given to them in the Credit Agreement unless
otherwise specified.

 

The Borrower has
requested that Lender (i) increase the amount available under the Credit
Facility from Twenty-Five Million Dollars ($25,000,000) to Forty Million
Dollars ($40,000,000), (ii) extend the Maturity Date to June 30, 2006 and (iii)
make certain other amendments to the Credit Agreement, which the Lender is willing
to make pursuant to the terms and conditions set forth herein.

 

NOW, THEREFORE, in
consideration of the premises and of the mutual covenants and agreements herein
contained, it is agreed as follows:

 

1.             Defined
Terms. The following capitalized terms have the meanings defined
below.  All other capitalized terms used
herein and not otherwise defined herein shall have the meaning set forth in the
Credit Agreement.

 

“Cash
Flow” means, for any period of determination, Net Income, plus depreciation and
amortization, plus any Interest Expense that is accrued but not paid currently,
plus repayments of Stock Purchase Loans, minus Capital Expenditures to the
extent such Capital Expenditures are paid in cash, minus all

 

 

scheduled
repayment of principal on Debt (whether or not actually paid), minus all funds
expended for the repurchase, redemption or retirement of the Guarantor’s 12%
Senior Subordinated Notes, minus all funds expended for the repurchase,
redemption or retirement of the Guarantor’s issued and outstanding capital
stock to the extent permitted hereunder, minus any Stock Purchase Loans made by
the Borrower or the Guarantor to the extent such loans are made in cash, minus
cash stock dividends, all as determined in accordance with GAAP on a consolidated
basis.

 

“Maximum
Line” means $40,000,000, unless said amount is reduced pursuant to Section
2.10, in which event it means the amount to which said amount is reduced.”

 

“Maturity Date” means
June 30, 2006.

 

2.             Facility
Fees.  Section 2.7(b) of the Credit
Agreement is hereby deleted and the following new Section 2.7(b)  is inserted in lieu thereof: 

 

2.7(b)       Borrower shall pay to Lender a fee (the
“Facility Fees”) in an amount equal to one-quarter of one percent (0.25%) per
annum of an amount equal to the average daily difference between the Aggregate
Outstanding and Five Million Dollars ($5,000,000).  To the extent the Aggregate Outstanding exceeds Five Million
Dollars ($5,000,000) but is less than Seven Million Five Hundred Thousand
Dollars ($7,500,000), the Facility Fees shall be determined on the average
daily difference between such Aggregate Outstanding and Seven Million Five
Hundred Thousand Dollars ($7,500,000). To the extent the Aggregate Outstanding
exceeds Seven Million Five Hundred Thousand Dollars ($7,500,000) but is less
than Ten Million Dollars ($10,000,000), the Facility Fees shall be determined
on the average daily difference between such Aggregate Outstanding and Ten
Million Dollars ($10,000,000). To the extent the Aggregate Outstanding exceeds
Ten Million Dollars ($10,000,000) but is less than Twelve Million Five Hundred
Thousand Dollars ($12,500,000), the Facility Fees shall be determined on the
average daily difference between such Aggregate Outstanding and Twelve Million
Five Hundred Thousand Dollars ($12,500,000). To the extent the Aggregate
Outstanding exceeds Twelve Million Five Hundred Thousand Dollars ($12,500,000)
but is less than Fifteen Million Dollars ($15,000,000), the Facility Fees shall
be determined on the average daily difference between such Aggregate
Outstanding and Fifteen Million Dollars ($15,000,000). To the extent the
Aggregate Outstanding exceeds Fifteen Million Dollars ($15,000,000) but is less
than Eighteen Million Dollars ($18,000,000), the Facility Fees shall be determined

 

2

 

on the average
daily difference between such Aggregate Outstanding and Eighteen Million
Dollars ($18,000,000). To the extent the Aggregate Outstanding exceeds Eighteen
Million Dollars ($18,000,000) but is less than Twenty-One Million Five Hundred
Thousand Dollars ($21,500,000), the Facility Fees shall be determined on the
average daily difference between such Aggregate Outstanding and Twenty-One
Million Five Hundred Thousand Dollars ($21,500,000). To the extent the
Aggregate Outstanding exceeds Twenty-One Million Five Hundred Thousand Dollars
($21,500,000) but is less than Twenty-Five Million Dollars ($25,000,000), the
Facility Fees shall be determined on the average daily difference between such
Aggregate Outstanding and Twenty-Five Million ($25,000,000).  To the extent the Aggregate Outstanding
exceeds Twenty- Five Million Dollars ($25,000,000) but is less than Thirty
Million Dollars ($30,000,000), the Facility Fees shall be determined on the average
daily difference between such Aggregate Outstanding and Thirty Million
($30,000,000).  To the extent the
Aggregate Outstanding exceeds Thirty Million Dollars ($30,000,000) but is less
than Thirty-Five Million Dollars ($35,000,000), the Facility Fees shall be
determined on the average daily difference between such Aggregate Outstanding
and Thirty-Five Million ($35,000,000). To the extent the Aggregate Outstanding
exceeds Thirty-Five Million Dollars ($35,000,000) but is less than Forty
Million Dollars ($40,000,000), the Facility Fees shall be determined on the
average daily difference between such Aggregate Outstanding and Forty Million
($40,000,000).Such fee shall be calculated monthly and paid in arrears
commencing on the first Banking Day of the month immediately following
execution of this Agreement and continuing on the first Banking Day of each
month thereafter until Lender’s commitment to extend the Credit has terminated
pursuant to Section 2.10 or Section 8.2(a). 
Borrower hereby authorizes Lender to make an Advance, subject to
Availability, in an amount equal to the Facility Fees then due and payable and
apply the same to the Facility Fees due.

 

3.             Minimum
Cash Flow; Minimum Cash on Hand. 
Section 6.11 of the Credit Agreement is hereby amended by deleting the
table appearing therein and inserting the following table in lieu thereof:

 

	
  Period

  	
   

  	
  Minimum Cash and

  Cash Equivalents

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  End
  of each first fiscal quarter

  	
   

  	
  $

  	
  20,000,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  End
  of each second fiscal quarter

  	
   

  	
  $

  	
  15,000,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  End
  of each third fiscal quarter

  	
   

  	
  $

  	
  10,000,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  End
  of each fiscal year

  	
   

  	
  $

  	
  25,000,000

  	
   

  

 

3

 

4.             Minimum
Inventory Turns Ratio.  Section 6.12
of the Credit Agreement is hereby amended by deleting it in its entirety and
inserting the following in lieu thereof:

 

6.12         Minimum Inventory Turns Ratio.

 

The
Borrower will maintain, on a rolling twelve-month basis, determined as at the
end of each fiscal quarter, an Inventory Turns Ratio of not less than 3.50 to
1.00.

 

5.             Inventory
Appraisals.   At any time (a) during
the continuance of a Default or Event of Default or (b) if the Borrower fails
to maintain either the minimum Cash Flow or the minimum Cash and Cash
Equivalents required under Section 6.11, Lender may obtain inventory appraisals
annually at Borrower’s expense.

 

6.             Dividends.  Section 7.5 of the Credit Agreement is
hereby amended by deleting it in its entirety and inserting the following in
lieu thereof:

 

7.5           Dividends.

 

So
long as no Event of Default exists or will occur as a result thereof, the
Borrower may declare and pay dividends on its capital stock.

 

7.             Permitted
Asset Acquisitions.  The following is
hereby added to the Credit Agreement as Subsection 7.7(f):

 

(f):
Notwithstanding the provisions of this Section 7.7, any Borrower may acquire
another Person or substantially all the assets of another Person so long as the
cash consideration for such acquisition does not exceed (i) $10,000,000 for any
single transaction and (ii) $20,000,000 for all such transactions in any fiscal
year of the Borrowers; and further provided that immediately after giving
effect to such transaction, (i) no Event of Default, and no event which, after
notice or lapse of time, or both, would become an Event of Default, shall have
occurred and be continuing and (ii) the Borrowers’ actual amount of aggregate
cash and marketable securities that are Permitted Investments under Section
7.4(a)(i), as of the measurement date immediately following such transaction,
shall not be less than 60% of the aggregate of such items set forth in the
Borrowers’ projections delivered to Lender for the applicable period.

 

4

 

8.             Replacement
Note.  Contemporaneously with the
execution of this Amendment, CBI and CBCO shall execute and deliver an Amended
Revolving Note in replacement of the existing Amended Revolving Note (the
“Replacement Note”).

 

9.             No
Other Changes.  Except as explicitly
amended by this Amendment, all of the terms and conditions of the Credit
Agreement shall remain in full force and effect and shall apply to any advance
or letter of credit thereunder.

 

10.           Conditions
Precedent.  This Amendment shall be
effective when the Lender shall have received an executed original hereof,
together with each of the following, each in substance and form acceptable to
the Lender in its sole discretion:

 

(a)           The
Replacement Note.

 

(b)           The
Acknowledgment and Agreement of set forth at the end of this Amendment, duly
executed by the Guarantor.

 

(c)           A
Certificate of the Secretary of CBI certifying as to (i) the resolutions
of the board of directors of CBI approving the execution and delivery of this
Amendment, (ii) the fact that the articles of incorporation and bylaws of
CBI, which were certified and delivered to the Lender pursuant to the
Certificate of Authority of CBI’s secretary or assistant secretary dated as of
September 17, 1999  continue in full force and effect and have
not been amended or otherwise modified except as set forth in the Certificate
to be delivered, and (iii) certifying that the officers and agents of CBI
who have been certified to the Lender, pursuant to the Certificate of Authority
of CBI’s secretary or assistant secretary dated as of September 17, 1999, as
being authorized to sign and to act on behalf of CBI continue to be so
authorized or setting forth the sample signatures of each of the officers and
agents of CBI authorized to execute and deliver this Amendment and all other
documents, agreements and certificates on behalf of CBI.

 

(d)           A
Certificate of the Secretary of CBCO certifying as to (i) the resolutions
of the board of directors of CBCO approving the execution and delivery of this
Amendment, (ii) the fact that the articles of incorporation and bylaws of
CBCO, which were certified and delivered to the Lender pursuant to the
Certificate of Authority of CBCO’s secretary or assistant secretary dated as of
February 28, 2002, continue in full force and effect and have not been amended
or otherwise modified except as set forth in the Certificate to be delivered,
and (iii) certifying that the officers and agents of CBCO who have been
certified to the Lender, pursuant to the Certificate of Authority of CBCO’s
secretary or assistant secretary dated as of February 28, 2002, as being
authorized to sign and to act on behalf of CBCO continue to be so authorized or
setting forth the sample signatures of each of the officers and agents of CBCO
authorized to execute and deliver 

 

5

 

this Amendment and all other
documents, agreements and certificates on behalf of CBCO.

 

(e)                                  Such
other matters as the Lender may require.

 

11.           Representations
and Warranties.  Each Borrower
hereby represents and warrants to the Lender as follows:

 

(a)           Each
Borrower has all requisite power and authority to execute this Amendment  and
to perform all of its obligations hereunder, and this Amendment has been duly
executed and delivered by each Borrower and constitutes the legal, valid and
binding obligation of each Borrower, enforceable in accordance with its terms.

 

(b)           The
execution, delivery and performance by each Borrower of this Amendment has been
duly authorized by all necessary corporate action and do not (i) require
any authorization, consent or approval by any governmental department,
commission, board, bureau, agency or instrumentality, domestic or foreign,
(ii) violate any provision of any law, rule or regulation or of any order,
writ, injunction or decree presently in effect, having applicability to such
Borrower, or the articles of incorporation or by-laws of such Borrower, or
(iii) result in a breach of or constitute a default under any indenture or
loan or credit agreement or any other agreement, lease or instrument to which
either Borrower is a party or by which it or its properties may be bound or
affected.

 

(c)           All
of the representations and warranties contained in Article V of the Credit
Agreement are correct on and as of the date hereof as though made on and as of
such date, except to the extent that such representations and warranties relate
solely to an earlier date.

 

12.           References.  All references in the Credit Agreement to
“this Agreement” shall be deemed to refer to the Credit Agreement as amended
hereby; and any and all references in the Security Documents to the Credit
Agreement shall be deemed to refer to the Credit Agreement as amended hereby.

 

13.           No
Waiver.  The execution of this
Amendment and acceptance of  any
documents related hereto shall not be deemed to be a waiver of any Default or
Event of Default under the Credit Agreement or breach, default or event of
default under any Security Document or other document held by the Lender,
whether or not known to the Lender and whether or not existing on the date of
this Amendment.

 

14.           Release.  Each Borrower and the Guarantor by signing
the Acknowledgment and Agreement of Guarantor set forth below, each hereby
absolutely and unconditionally releases and forever discharges the Lender, and
any and all participants, parent

 

6

 

corporations, subsidiary corporations, affiliated corporations,
insurers, indemnitors, successors and assigns thereof, together with all of the
present and former directors, officers, agents and employees of any of the
foregoing, from any and all claims, demands or causes of action of any kind,
nature or description, whether arising in law or equity or upon contract or
tort or under any state or federal law or otherwise, which the Borrower or such
Guarantor has had, now has or has made claim to have against any such person
for or by reason of any act, omission, matter, cause or thing whatsoever
arising from the beginning of time to and including the date of this Amendment,
whether such claims, demands and causes of action are matured or unmatured or
known or unknown..

 

15.           Costs
and Expenses.  Each Borrower hereby
reaffirms its agreement under the Credit Agreement to pay or reimburse the
Lender on demand for all costs and expenses incurred by the Lender in
connection with the Loan Documents, including without limitation all reasonable
fees and disbursements of legal counsel. Without limiting the generality of the
foregoing, each Borrower specifically agrees to pay all fees and disbursements
of counsel to the Lender for the services performed by such counsel in
connection with the preparation of this Amendment and the documents and
instruments incidental hereto. Each Borrower hereby agrees that the Lender may,
at any time or from time to time in its sole discretion and without further
authorization by the Borrower, make a loan to the Borrower under the Credit
Agreement, or apply the proceeds of any loan, for the purpose of paying any
such fees, disbursements, costs and expenses.

 

16.           Miscellaneous.  This Amendment and the Acknowledgment and
Agreement of Guarantor may be executed in any number of counterparts, each of
which when so executed and delivered shall be deemed an original and all of
which counterparts, taken together, shall constitute one and the same
instrument.

 

IN WITNESS WHEREOF, the
parties hereto have caused this Amendment to be duly executed as of the date
first written above.

 

7

 

	
  WELLS FARGO BANK
  MINNESOTA,

  	
  CHRISTOPHER &
  BANKS, INC.,

  
	
  NATIONAL ASSOCIATION,

  	
  a Minnesota corporation

  
	
  a national banking
  association

  	
   

  
	
   

  	
  By

  	
  /s/ Andrew K. Moller

  	
   

  
	
  By

  	
  /s/ Elizabeth S.
  Collins 

  	
   

  	
  Name

  	
  Andrew K. Moller

  	
   

  
	
   

  	
  Elizabeth
  S. Collins

  	
  Title

  	
  Senior Vice President
  & Chief Financial Officer

  	
   

  
	
   

  	
  Its
  Vice President

  	
   

  
	
   

  	
   

  
	
   

  	
  CHRISTOPHER & BANKS
  COMPANY, a

  
	
   

  	
   Minnesota corporation

  
	
   

  	
   

  
	
   

  	
  By

  	
  /s/ Andrew K. Moller

  	
   

  
	
   

  	
  Name

  	
  Andrew K. Moller

  	
   

  
	
   

  	
  Title

  	
  Senior Vice President
  & Chief Financial Officer

  	
   

  
							

 

8

 

 

ACKNOWLEDGMENT AND AGREEMENT OF
GUARANTOR

 

The undersigned, a
guarantor of the indebtedness of CHRISTOPHER & BANKS, INC., a Minnesota
corporation, formerly known as BRAUN’S FASHIONS, INC. to WELLS FARGO BANK
MINNESOTA, N.A., national banking association, formerly known as NORWEST BANK
MINNESOTA, NATIONAL ASSOCIATION, national banking association, (the “Lender”)
pursuant to a Guaranty dated as of December 2, 1996, (the “Guaranty”), hereby
(i) acknowledges receipt of the foregoing Amendment; (ii) acknowledges and
agrees that pursuant to the Guaranty, it is also a guarantor of the indebtedness
of CHRISTOPHER & BANKS COMPANY, a Minnesota corporation (together with
Christopher & Banks, Inc., jointly and severally the “Borrower”); (iii)
consents to the terms (including without limitation the release set forth in
paragraph 14 of the Amendment) and execution thereof; (iv) reaffirms its  obligations
to the Lender pursuant to the terms of its  Guaranty; (v) acknowledges that the Lender
may amend, restate, extend, renew or otherwise modify the Credit Agreement and
any indebtedness or agreement of the Borrower, or enter into any agreement or
extend additional or other credit accommodations, without notifying or
obtaining the consent of the undersigned and without impairing the liability of
the undersigned under its  Guaranty for all of the Borrower’s present
and future indebtedness to the Lender.

 

	
   

  	
   

  	
   

  	
  CHRISTOPHER & BANKS
  CORPORATION

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By

  	
  /s/ Andrew K. Moller

  	
   

  
	
   

  	
   

  	
   

  	
  Name

  	
  Andrew K Moller 

  	
   

  
	
   

  	
   

  	
   

  	
  Title

  	
  Senior Vice President
  & Chief Financial Officer

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00057-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00057-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00057-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00057-of-00352.parquet"}]]