Document:

Exhibit 10.36

RESTRICTED STOCK AGREEMENT

THIS
RESTRICTED STOCK AGREEMENT
is made as of the        day of                        ,
200    , between Christopher & Banks Corporation, a
Delaware corporation (the “Company”), and                        
(“Employee”).

1.             Award.

(a)           Shares.  Pursuant to the Christopher & Banks
Corporation 1997 Stock Incentive Plan, as amended (the “Plan”),                                               
(                       )
shares (the “Restricted Shares”) of the Company’s common stock, par value $0.01
per share (“Stock”), shall be issued as hereinafter provided in Employee’s name
subject to certain restrictions thereon.

(b)           Issuance of Restricted Shares.  The Restricted Shares shall be issued upon
acceptance hereof by Employee and upon satisfaction of the conditions of this
Agreement.

(c)           Plan Incorporated.  Employee acknowledges receipt of a copy of
the Plan, and agrees that this award of Restricted Shares shall be subject to
all of the terms and conditions set forth in the Plan, including future
amendments thereto, if any, pursuant to the terms thereof, which Plan is
incorporated herein by reference as a part of this Agreement.

2.             Restricted Shares.  Employee hereby accepts the Restricted Shares
when issued and agrees with respect thereto as follows:

(a)           Forfeiture Restrictions.  The Restricted Shares may not be sold,
assigned, pledged, exchanged, hypothecated or otherwise transferred, encumbered
or disposed of to the extent then subject to the Forfeiture Restrictions (as hereinafter
defined), and in the event of termination of Employee’s employment with the
Company or employing subsidiary for any reason other than (i) normal retirement
on or after age sixty-five, (ii) death or (iii) disability as determined by the
Company or employing subsidiary, or except as otherwise provided in the last
sentence of subparagraph (b) of this Paragraph 2, Employee shall, for no
consideration, forfeit to the Company all Restricted Shares to the extent then
subject to the Forfeiture Restrictions. 
The prohibition against transfer and the obligation to forfeit and
surrender Restricted Shares to the Company upon termination of employment are
herein referred to as “Forfeiture Restrictions.”  The Forfeiture Restrictions shall be binding
upon and enforceable against any transferee of Restricted Shares.

(b)           Lapse of Forfeiture Restrictions.  The Forfeiture Restrictions shall lapse as to
the Restricted Shares in accordance with the following schedule provided that
Employee has been continuously employed by the Company from the date of this
Agreement through the lapse date:

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  Percentage of
  Total

  
	
   

  	
   

  	
   

  	
   

  	
  Number of
  Restricted Shares

  
	
   

  	
   

  	
   

  	
   

  	
  as to which
  Forfeiture

  
	
  Lapse Date

  	
   

  	
   

  	
   

  	
   

  	
  Restrictions
  Lapse

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
                        ,
  20   

  	
   

  	
   

  	
   

  	
   

  	
  %

  
							

 

Notwithstanding the foregoing,
the Forfeiture Restrictions shall lapse as to all of the Restricted Shares on
the earlier of (i) the occurrence of a Corporate Change (as such term is
defined in the Plan), or (ii) the date Employee’s employment with the Company
is terminated by reason of death, disability (as determined by the Company or
employing subsidiary) or normal retirement on or after age sixty-five.  In the event Employee’s employment is
terminated for any other reason, including retirement prior to age sixty-five
with the approval of the Company or employing subsidiary, the Committee which
administers the Plan (the “Committee”) or its delegate, as appropriate, may, in
the Committee’s or such delegate’s sole discretion, approve the lapse of Forfeiture
Restrictions as to any or all Restricted Shares still subject to such
restrictions, such lapse to be effective on the date of such approval or
Employee’s termination date, if later.

(c)           Certificates.  A certificate evidencing the Restricted Shares
shall be issued by the Company in Employee’s name, or at the option of the
Company, in the name of a nominee of the Company, pursuant to which Employee
shall have voting rights and shall be entitled to receive all dividends unless
and until the Restricted Shares are forfeited pursuant to the provisions of
this Agreement.  The certificate shall
bear a legend evidencing the nature of the Restricted Shares, and the Company
may cause the certificate to be delivered upon issuance to the Secretary of the
Company or to such other depository as may be designated by the Company as a
depository for safekeeping until the forfeiture occurs or the Forfeiture
Restrictions lapse pursuant to the terms of the Plan and this award.  Upon request of the Committee or its delegate,
Employee shall deliver to the Company a stock power, endorsed in blank,
relating to the Restricted Shares then subject to the Forfeiture
Restrictions.  Upon the lapse of the
Forfeiture Restrictions without forfeiture, the Company shall cause a new certificate
or certificates to be issued without legend in the name of Employee for the
shares upon which Forfeiture Restrictions lapsed.  Notwithstanding any other provisions of this
Agreement, the issuance or delivery of any shares of Stock (whether subject to
restrictions or unrestricted) may be postponed for such period as may be
required to comply with applicable requirements of any national securities
exchange or any requirements under any law or regulation applicable to the
issuance or delivery of such shares.  The
Company shall not be obligated to issue or deliver any shares of Stock if the
issuance or delivery thereof shall constitute a

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violation of any provision of
any law or of any regulation of any governmental authority or any national
securities exchange.

3.             Withholding of Tax.  To the extent that the receipt of the
Restricted Shares or the lapse of any Forfeiture Restrictions results in income
to Employee for federal or state income tax purposes, Employee shall deliver to
the Company at the time of such receipt or lapse, as the case may be, such
amount of money as the Company may require to meet its withholding obligation
under applicable tax laws or regulations, and, if Employee fails to do so, the
Company is authorized to withhold from any cash or Stock remuneration then or
thereafter payable to Employee any tax required to be withheld by reason of
such resulting compensation income.

4.             Status of Stock.  Employee agrees that the Restricted Shares
will not be sold or otherwise disposed of in any manner which would constitute
a violation of any applicable federal or state securities laws.  Employee also agrees (i) that the
certificates representing the Restricted Shares may bear such legend or legends
as the Company deems appropriate in order to assure compliance with applicable
securities laws, (ii) that the Company may refuse to register the transfer of
the Restricted Shares on the stock transfer records of the Company if such
proposed transfer would be in the opinion of counsel satisfactory to the
Company constitute a violation of any applicable securities law and (iii) that
the Company may give related instructions to its transfer agent, if any, to
stop registration of the transfer of the Restricted Shares.

5.             Employment Relationship.  Nothing in this Agreement shall be
construed as constituting a commitment, guaranty, agreement, or understanding
of any kind or nature that the Company or its subsidiaries shall continue to
employ the Employee and this Agreement shall not affect in any way the right of
the Company or its subsidiaries to terminate the employment of the
Employee.  For purposes of this Agreement, Employee shall be considered to be in
the employment of the Company as long as Employee remains an employee of either
the Company, any successor corporation or a parent or subsidiary corporation of
the Company or any successor corporation. 
Any question as to whether and when there has been a termination of such
employment, and the cause of such termination, shall be determined by the
Committee, or its delegate, as appropriate, and its determination shall be
final.

6.             Committee’s Powers.  No provision contained in this Agreement
shall in any way terminate, modify or alter, or be construed or interpreted as
terminating, modifying or altering any of the powers, rights or authority
vested in the Committee or, to the extent delegated, in its delegate pursuant
to the terms of the Plan or resolutions adopted in furtherance of the Plan,
including, without limitation, the right to make certain determinations and
elections with respect to the Restricted Shares.

7.             Binding Effect.  This Agreement shall be binding upon and
inure to the benefit of any successors to the Company and all successors to
Employee permitted under the terms of the Plan.

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8.             Governing Law.  This Agreement shall be governed by, and
construed in accordance with, the laws of the State of Minnesota.

IN WITNESS
WHEREOF, the Company has
caused this Agreement to be duly executed by an officer thereunto duly
authorized, and Employee has executed this Agreement, all as of the date first
above written.

C

	
  

  	
  CHRISTOPHER & BANKS

  
	
   

  	
  CORPORATION

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  Matthew P Dillon

  	
   

  
	
   

  	
   

  	
  Chief Executive Officer

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  EMPLOYEE

  
	
   

  	
   

  
	
   

  	
  Signed:

  	
   

  	
   

  
	
   

  	
  Printed Name:

  	
   

  	
   

  
							

 

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Please Check Appropriate Item (One of the lines must be checked):

___     I do not
desire the alternative tax treatment provided for in the Internal Revenue Code
Section 83(b).

___     I do desire
the alternative tax treatment provided for in Internal Revenue Code Section
83(b) and desire that forms for such purpose be forwarded to me.

* I acknowledge that the Company has suggested that
before this block is checked that I check with a tax consultant of my choice.

Please furnish the following information for shareholder records:

 

	
  

  	
   

  	
   

  	
   

  	
   

  
	
  (Given name and
  initial must be used

  	
   

  	
  Social Security Number

  
	
   for stock registry)

  	
   

  	
  (if applicable)

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Address (Street)

  	
   

  	
  Birth Date

  
	
   

  	
   

  	
  Month/Day/Year

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Address (City)

  	
   

  	
  Name of Employer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Address (Zip Code)

  	
   

  	
  Day phone number

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  United States
  Citizen: Yes      No     

  	
   

  	
   

  
							

 

PROMPTLY
NOTIFY THIS OFFICE OF ANY CHANGE IN ADDRESS.

 5Exhibit 10.37

STOCK OPTION AGREEMENT

Pursuant to

CHRISTOPHER &
BANKS CORP.

2005 Stock Incentive Plan

(Qualified Stock
Option)

Name of Employee:

Date of Grant:

Number of Shares:

Exercise Price Per Share:  $

This STOCK OPTION
AGREEMENT (the “Agreement”) made as of                      between
Christopher & Banks Corp. (the “Company”) and the above-named individual,
an employee of the Company or one of its subsidiaries (the “Employee”), to
record the granting of an option pursuant to the Company’s 2005 Stock Incentive
Plan (the “Plan”).  Except as otherwise
defined herein, capitalized terms contained in this Agreement shall have the
same meaning as set forth in the Plan.

1.             Grant of Option:  In accordance with Plan, the Company hereby
grants to the Employee, subject to the terms and conditions of the Plan and
this Agreement, the option to purchase from the Company an aggregate of                      shares
of Common Stock ($.01 par value) of the Company at the purchase price of $                     per
share, such adoption to be exercisable as hereinafter provided.

2.             Expiration Date:  This option shall expire on                      (the
“Expiration Date”).

3.             Exercise of Option:  Subject to Section 8 hereof, this option
shall become exercisable with respect to      % of the
shares of Common Stock subject hereto on the first anniversary date of the
grant of this option (      ), and with respect
to an additional       % of such shares on each
of the                      anniversary
dates of the grant of this option.

This option may be partially exercised from time to time within such
percentage limitations.  This option may
not be exercised after the Expiration Date. Notwithstanding the foregoing, this
option shall not be exercisable for a fractional share of stock. Any exercise
of this option shall be made in writing duly executed and delivered to the
Company specifying the number of shares as to which the option is being
exercised in the form of the Subscription Form for Exercise attached hereto.
Schedule I of this Agreement shall be made available to the Company at the time
of exercise for notation of any partial exercise.

4.             Payment
of Option Price:  On the date of any
exercise of this option, the purchase price of the shares as to which this
option is being exercised shall be due and payable and shall be made in cash or
by check or by delivery of shares of common stock of the Company held by the
optionee for more than six (6) months and registered in the name of the
Employee, duly assigned to the Company with the assignment guaranteed by a
bank, trust company or member firm  of
the New York Stock Exchange, and with all necessary transfer tax stamps
affixed, or by a combination of the foregoing, any such shares so delivered to
be deemed to have a value per share equal to the fair market value of the
shares on such date, as determined by the Committee.

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5.             Option Nontransferable:  This option is not transferable otherwise
than by will or the law or descent or distribution and is exercisable during
the Employee’s lifetime only by the Employee or his guardian or legal
representative.

6.             Rights as a Shareholder:  The Employee shall have no rights as a
shareholder with respect to any of the shares covered by this option until the
date of issuance to the Employee of a stock certificate for such shares, and no
adjustment shall be made for any dividends or other rights if the record date
of such dividends or other rights is prior to the date such stock certificate
is issued.

7.             General Restrictions:

(1)          At the time of any
exercise of this option, the Employee shall furnish the Company with a
representation that he is acquiring the shares issued upon such exercise as an
investment and not with a view to, or for sale in connection with, the
distribution of any such shares; provided, however, that such representation
need not be furnished in the event the shares issued upon such exercise are
registered with the Securities and Exchange Commission under the Securities Act
of 1933, as amended.

(2)          The Company will not be
obligated to issue shares of Common Stock covered by this option if counsel to
the Company determines that such issuance would violate any law or regulation
of any governmental authority or any agreement between the Company and the New
York Stock Exchange or any national securities exchange upon which the Common
Stock is quoted or listed. In connection with any issuance or transfer, the
person acquiring the shares shall, if requested by the Company, give assurances
satisfactory to counsel to the Company regarding such matters as the Company
may deem desirable to assure compliance with all legal requirements.

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This option shall be
subject to the requirement that if at any time the Committee shall determine,
in its discretion, that the listing, registration or qualification of the
shares subject to this option upon the New York Stock Exchange, any securities
exchange or under any state or federal law, or that the consent or approval of
any government regulatory body, is necessary or desirable as a condition of, or
in connection with, this option or the issue or purchase of shares under this
option, this option shall be subject to the condition that such listing,
registration, qualification, consent or approval shall have been effected or
obtained free of any conditions not acceptable to the Committee.

(3)          Certificates evidencing shares of Common
Stock issued pursuant to this   Agreement
shall bear a legend describing restrictions on transfer thereof unless the
Company determines that such legend is not necessary or appropriate.

8.             Termination of Employment:

(1)            The option granted
pursuant to this Agreement shall terminate immediately upon the termination of
the Employee’s employment by the Company or any subsidiary for any reason
whatsoever; provided, however, that in the event such termination of employment
results from (i) the Employee’s retirement with the consent of the Company,
such option may be exercised within three months of the date of termination and
(ii) the Employee’s disability (as defined in Section 105(d)(4) of the Internal
Revenue Code of 1986, as amended) or death, such option may be exercised by the
Employee’s legal representative, heir or devisee, as appropriate within one
year from the date of disability or death. Notwithstanding clause (i) of the preceding
sentence, the Company may terminate and cancel such option

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during the three-month
period referred to in such clause if the optionee engages in employment or
activities contrary, in the opinion of the Company’s Board of Directors or the
Committee, to the best interests of the Company or any subsidiary.  In addition, the Committee shall, in each
case in which clause (i) of the second preceding sentence may be applicable,
determine whether a termination of employment shall be considered retirement with
the consent of the Company. Notwithstanding the foregoing, (i) the option
granted pursuant to this Agreement shall not be exercisable after the
expiration date of such option and (ii) such option (or any portion thereof)
which is not exercisable on the date of termination of employment shall not be
exercisable thereafter without the consent of the Committee.

(2)            Nothing contained in
this Section shall be interpreted or have the effect of extending the period
during which an option may be exercised beyond the terms or the Expiration Date
provided in this Agreement or established by law or regulation. Death of the
Employee subsequent to termination shall not extend such periods. Whether leave
of absence shall constitute a termination of employment for purposes of this
Agreement shall be determined by the Committee in its sole discretion.

9.             Adjustment
of Shares:

(1)            In the event there is
any recapitalization in the form of a stock dividend, distribution, split,
subdivision or combination of shares of Common Stock of the Company, resulting
in an increase or decease in the number of shares of Common Stock outstanding,
the number of shares of Common Stock covered by this option

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and the exercise price
per share under this option shall be increased or decreased proportionately, as
the case may be, without change in the aggregate exercise price.

(2)            If, pursuant to any
reorganization, sale or exchange of assets, consolidation or merger,
outstanding Common Stock of the Company is or would be exchanged for other securities
of the Company or of another corporation which is a party to such transaction,
or for property, this option shall apply to the securities or property into
which the Common Stock covered hereby would have been changed or for which such
Common Stock would have been exchanged had such Common Stock been outstanding
at the time.

10.           No Employment Rights: Neither
the Plan nor this option shall confer upon the Employee any right with respect
to continuance of employment by the Company or any subsidiary nor shall they
interfere in any way with the right of the Company or any subsidiary by which
the Employee is employed to terminate the employment of the Employee at any
time, with or without cause.

11.           Plan Controls:  The Employee hereby acknowledges receipt of a
copy of

the Plan and
agrees to be bound by all of the terms and provisions thereof including any
which may conflict with those contained in this Agreement. The Plan is hereby
incorporated by reference into this Agreement, and this Agreement is subject in
all respect to the terms and conditions of the Plan. In the event of any
conflict between this Agreement and the Plan, the terms of the Plan shall
control. This option is intended to qualify as an incentive stock option under
Section 422 of the Internal Revenue Code of 1986, as amended, and this
Agreement and the Plan are to be construed accordingly.

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12.           Notices:  All notices to the Company shall be in
writing and sent by certified or registered mail, postage prepaid, to the
Company at its offices at 2400 Xenium Lane North, Plymouth, Minnesota 55441 or
such other address as the Company shall from time to time notify the Employee
in writing. All notices to the Employee shall be in writing and sent by
certified or registered mail, postage prepaid, to the Employee at the address
set forth on the signature page(s) hereof or such address as the Employee shall
from time to time notify the Company in writing. All notices shall be deemed to
have been given when mailed.

13.           Conflicts:  As a condition to the granting of the option
contained herein, the Employee agrees that any dispute or disagreement with
respect to the Plan, this Agreement or such option shall be determined by the
Committee in its sole discretion, and that any interpretation by the Committee
of the terms of this Agreement shall be final, binding and conclusive. In the
event of the institution of any legal proceedings directed to the validity of
the Plan, or to any option granted under the Plan, the Company may, in its
discretion and without incurring any liability to the Employee terminate this
Agreement and/or the option granted pursuant to this Agreement.

14.           Tax Treatment:  In the event the Employee seeks to qualify
for the special capital gains treatment available for the Plan, the Employee
must not dispose of any of the shares underlying the option within two (2)
years following the date the option is granted or within one (1) year of the
exercise and transfer of the shares to the Employee. Due to the complex nature
of the tax laws, the Employee is urged to consult his personal tax advisor
prior to exercising the option. THE CORPORATION MAKES NO WARRANTIES OR
REPRESENTATIONS WHATSOEVER TO THE EMPLOYEE REGARDING THE TAX CONSEQUENCES OF
THIS GRANT, THE EXERCISE OF ANY OPTIONS OR ANY OTHER MATTER.

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IN
WITNESS WHEREOF, the Company and the Employee has caused this Stock Option
Agreement to be executed on the date set forth opposite the respective
signatures. It is being further understood that the Date of Grant may differ
from the date of signature.

	
  Dated as of :

  	
   

  	
   

  	
   

  	
  Christopher & Banks Corp.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Its:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Dated as of:

  	
   

  	
   

  	
   

  	
  Employee

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Address:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
											

 

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