Document:

Exhibit 10.6

 

Second
Amended and Restated Bylaws

as of June 27,
2008

 

SECOND AMENDED AND RESTATED BYLAWS

 

OF

 

THE CHILDREN’S PLACE RETAIL STORES,
INC.

 

(A Delaware
Corporation)

 

ARTICLE I

 

STOCKHOLDERS

 

1. 
CERTIFICATES REPRESENTING STOCK.

 

(a)           Every holder of stock
in the Corporation shall be entitled to have a certificate signed by, or in the
name of, the Corporation by the Chairman of the Board of Directors, if any, or
by the President or a Vice President and by the Treasurer or an Assistant
Treasurer or the Secretary or an Assistant Secretary of the Corporation,
representing the number of shares owned by such person in the Corporation.  If such certificate is countersigned by a
transfer agent other than the Corporation or its employee or by a registrar other
than the Corporation or its employee, any other signature on the certificate
may be a facsimile.  In case any officer,
transfer agent, or registrar who has signed or whose facsimile signature has
been placed upon a certificate shall have ceased to be such officer, transfer
agent or registrar before such certificate is issued, it may be issued by the
Corporation with the same effect as if such person were such officer, transfer
agent or registrar at the date of issue.

 

(b)           Whenever the
Corporation shall be authorized to issue more than one class of stock or more
than one series of any class of stock, and whenever the Corporation shall issue
any shares of its stock as partly paid stock, the certificates representing
shares of any such class or series or of any such partly paid stock shall set
forth thereon the statements prescribed by the General Corporation Law of the
State of Delaware (the “DGCL”).  Any
restrictions on the transfer or registration of transfer of any shares of stock
of any class or series shall be noted conspicuously on the certificate
representing such shares.

 

(c)           The Corporation may
issue a new certificate of stock in place of any certificate theretofore issued
by it, alleged to have been lost, stolen or destroyed, and the Board of Directors
may require the owner of any lost, stolen or destroyed certificate, or such
person’s legal representative, to give the Corporation a bond sufficient to
indemnify the Corporation and its transfer agent or agents and registrar or
registrars against any claim that may be made against it on account of the
alleged loss, theft or destruction of any such certificate or the issuance of
any such new certificate.

 

2.  FRACTIONAL
SHARE INTERESTS.

 

The Corporation may, but
shall not be required to, issue fractions of a share.

 

 

3. 
STOCK TRANSFERS.

 

Upon compliance with
provisions restricting the transfer or registration of transfer of shares of
stock, if any, transfers or registration of transfers of shares of stock of the
Corporation shall be made only on the stock ledger of the Corporation by the
registered holder thereof, or by such person’s attorney thereunto authorized by
power of attorney duly executed and filed with the Secretary of the Corporation
or with a transfer agent or a registrar, if any, and on surrender of the
certificate or certificates for such shares of stock properly endorsed and the
payment of all taxes due thereon.

 

4. 
RECORD DATE FOR STOCKHOLDERS.

 

(a)           In order that the
Corporation may determine the stockholders entitled to notice of or to vote at
any meeting of stockholders or any adjournment thereof, the Board of Directors
may fix a record date, which record date shall not precede the date upon which
the resolution fixing the record date is adopted by the Board of Directors, and
which record date shall not be more than sixty nor less than ten days before
the date of such meeting.  If no record
date has been fixed by the Board of Directors, the record date for determining
stockholders entitled to notice of or to vote at a meeting of stockholders
shall be at the close of business on the day next preceding the day on which
notice is given, or, if notice is waived, at the close of business on the day
next preceding the day on which the meeting is held.  A determination of stockholders of record
entitled to notice of or to vote at a meeting of stockholders shall apply to
any adjournment of the meeting; provided, however, that the Board
of Directors may fix a new record date for the adjourned meeting.

 

(b)           In order that the
Corporation may determine the stockholders entitled to receive payment of any
dividend or other distribution or allotment of any rights or the stockholders
entitled to exercise any rights in respect of any change, conversion or
exchange of stock, or for the purpose of any other lawful action, the Board of
Directors may fix a record date, which record date shall not precede the date
upon which the resolution fixing the record date is adopted, and which record
date shall be not more than sixty days prior to such action.  If no record date has been fixed, the record
date for determining stockholders for any such purpose shall be at the close of
business on the day on which the Board of Directors adopts the resolution
relating thereto.

 

5. MEANING OF CERTAIN TERMS.

 

As used herein in respect of
the right to notice of a meeting of stockholders or a waiver thereof or to
participate or vote thereat or to consent or dissent in writing in lieu of a
meeting, as the case may be, the term “share” or “shares” or “share of stock”
or “shares of stock” or “stockholder” or “stockholders” refers to an
outstanding share or shares of stock and to a holder or holders of record of
outstanding shares of stock when the Corporation is authorized to issue only
one class of shares of stock, and said reference is also intended to include
any outstanding share or shares of stock and any holder or holders of record of
outstanding shares of stock of any class upon which or upon whom the Amended
and Restated Certificate of Incorporation of the Corporation (the “Certificate
of Incorporation”) confers such rights where there are two or more classes or
series of shares of stock or upon which or upon whom the DGCL confers such
rights notwithstanding that the Certificate of Incorporation may provide for
more than one class or series of shares of stock, one or more of which are
limited or denied such rights thereunder; provided, however, that
no such right shall vest in the event of an increase or a decrease in the
authorized number of shares of stock of any class or series which is otherwise
denied voting rights under the provisions of the Certificate of Incorporation,
including any preferred stock which is denied voting rights under the
provisions of the resolution or resolutions adopted by the Board of Directors
with respect to the issuance thereof.

 

 

2

 

6. 
STOCKHOLDER MEETINGS.

 

(a)           Annual
Meetings.  An annual meeting of the stockholders of the
Corporation shall be held within 150 days after the end of each fiscal year of
the Corporation, commencing with the fiscal year ending on or about January 31,
1998, for the purpose of electing directors and transacting such other business
as may properly come before the meeting.

 

(b)           Special
Meetings.  Special meetings of the stockholders of the
Corporation for any purpose or purposes may be called at any time by the
Chairman of the Board of Directors or by the Secretary of the Corporation
within ten calendar days after receipt of a written request from a majority of
the total number of directors which the Corporation would have if there were no
vacancies.  Such special meetings may not
be called by any other person or persons.

 

(c)           Time
and Place of Meetings.  Subject to the provisions of Section 6(a),
each meeting of stockholders shall be held on such date, at such hour, and at
such place, either within or without the State of Delaware, as fixed by the
Board of Directors from time to time or in the notice of the meeting or, in the
case of an adjourned meeting, as announced at the meeting at which the
adjournment is taken.  Whenever the Board
of Directors shall fail to fix such place, the meeting shall be held at the
registered office of the Corporation in the State of Delaware.

 

(d)           Notice
of Meetings; Waiver of Notice.  Written notice of all meetings
shall be given, stating the place, date and hour of the meeting.  The notice of an annual meeting shall state
that the meeting is called for the election of Directors and for the
transaction of other business which may properly come before the meeting, and
shall (if any other action which could be taken at a special meeting is to be
taken at such annual meeting), state such other action or actions as are known
at the time of such notice.  The notice
of a special meeting shall in all instances state the purpose or purposes for
which the meeting is called. If any action is proposed to be taken which would,
if taken, entitle stockholders to receive payment for their shares of stock,
the notice shall include a statement of that purpose and to that effect.  Except as otherwise provided by the DGCL, a
copy of the notice of any meeting shall be given, personally or by mail, not
less than ten days nor more than sixty days before the date of the meeting, unless
the lapse of the prescribed period of time shall have been waived, and directed
to each stockholder at such person’s address as it appears on the records of
the Corporation.  Notice by mail shall be
deemed to be given when deposited, with postage thereon prepaid, in the United
States mail.  If a meeting is adjourned
to another time, not more than thirty days after the date of the meeting at
which the adjournment is taken, and/or to another place, and if an announcement
of the adjourned time and place is made at the meeting at which the adjournment
is taken, it shall not be necessary to give notice of the adjourned meeting
unless the Board of Directors, after adjournment, fixes a new record date for
the adjourned meeting.  Notice need not
be given to any stockholder who submits a written waiver of notice before or
after the time stated therein. 
Attendance of a person at a meeting of stockholders shall constitute a
waiver of notice of such meeting, except when the stockholder attends a meeting
for the express purpose of objecting, at the beginning of the meeting, to the
transaction of any business because the meeting is not lawfully called or
convened.  Neither the business to be
transacted at, nor the purpose of, any regular or special meeting of the stockholders
need be specified in any written waiver of notice.

 

(e)           Quorum
and Manner of Acting.  Subject to the provisions of these Amended
and Restated Bylaws (the “Bylaws”), the Certificate of Incorporation and any
provision of the DGCL as to the vote that is required for a specified action,
the presence in person or by proxy of the holders of a majority of the
outstanding shares of the Corporation entitled to vote at any meeting of
stockholders shall constitute a quorum for the transaction of business, and the
vote in person or by proxy of the holders of a majority of the shares
constituting such quorum shall be binding on all stockholders of the
Corporation.  A majority of the shares
present in person or by proxy and entitled to vote may, regardless of whether
or not they constitute a quorum, adjourn the meeting to another time and
place.  Any business which might have
been transacted at the original meeting may be transacted at any adjourned
meeting at which a quorum is present.

 

3

 

When
a quorum is present to organize a meeting, it is not broken by the subsequent
withdrawal of any stockholders.

 

(f)            Voting.   Each
stockholder entitled to vote in accordance with the terms of the Certificate of
Incorporation and of these Bylaws, or, with respect to the issuance of
preferred stock, in accordance with the terms of a resolution or resolutions of
the Board of Directors, shall be entitled to one vote, in person or by proxy,
for each share of stock entitled to vote held by such stockholder.  The vote required for the election of
directors shall be as provided in the Certificate of Incorporation. In voting
on the election of directors, stockholders shall also be provided the
opportunity to abstain, and abstentions, votes designated to be withheld from
the election of a director and shares present but not voted in respect of the
election of a director, if any, shall not be considered as votes cast.  Any other action shall be authorized by a
majority of the votes cast except where the DGCL, the Certificate of Incorporation
or these Bylaws prescribe a different percentage of votes and/or a different
exercise of voting power. Voting by ballot shall not be required for corporate
action except as otherwise provided by the DGCL or by the Certificate of
Incorporation.

 

(g)           Judges
of Election.  The Board of Directors, in advance of any
meeting of stockholders, may, but need not, appoint one or more inspectors of
election or judges of the vote, as the case may be, to act at the meeting or
any adjournment thereof.  If an inspector
or inspectors or judge or judges are not appointed by the Board of Directors,
the chairman of the meeting may, but need not, appoint one or more inspectors
or judges.  In case any person who may be
appointed as an inspector or judge fails to appear or act, the vacancy may be
filled by appointment made by the chairman of the meeting.  Each inspector or judge, if any, before
entering upon the discharge of such person’s duties, shall take and sign an
oath faithfully to execute the duties of inspector or judge at such meeting
with strict impartiality and according to the best of his or her ability.  The inspectors or judges, if any, shall
determine the number of shares of stock outstanding and the voting power of each,
the shares of stock represented at the meeting, the existence of a quorum and
the validity and effect of proxies and ballots, receive votes, ballots or
consents, hear and determine all challenges and questions arising in connection
with the right to vote, count and tabulate all votes, ballots or consents,
determine the result, and do such other acts as are proper to conduct the
election or vote with fairness to all stockholders.  On request of the person presiding at the
meeting, the inspector or inspectors or judge or judges, if any, shall make a
report in writing of any challenge, question or matter determined by such
person or persons and execute a certificate of any fact so found.

 

(h)           List
of Stockholders.  A complete list of the stockholders entitled
to vote at each meeting of stockholders of the Corporation, arranged in
alphabetical order, and showing the address and number of shares registered in
the name of each stockholder, shall be prepared and made available for
examination during regular business hours by any stockholder for any purpose
germane to the meeting.  The list shall
be available for such examination at the place where the meeting is to be held
for a period of not less than ten days prior to the meeting and during the
whole time of the meeting.  The stock
ledger shall be the only evidence as to who are the stockholders entitled to
examine the stock ledger, the list required by this Section 6(h) or
the books of the Corporation, or to vote at any meeting of stockholders.

 

(i)            Conduct
of Meeting.  At every meeting of stockholders, the
chairman of the meeting shall be the Chairman of the Board or, in the absence
of such officer, the President or, in the absence of both such officers, such
person as shall have been designated by the Chairman of the Board or, if such
officer has not so designated any person, by the President or, if such officer
has not so designated any person, by resolution adopted by the Board of
Directors.  The chairman of the meeting
shall have sole authority to prescribe the agenda and rules of order for
the conduct of such meeting of stockholders and to determine all questions
arising thereat relating to the order of business and the conduct of the
meeting, except as otherwise required by law. 
The Secretary of the Corporation or, in such person’s absence, an Assistant
Secretary, shall

 

4

 

act
as secretary of every meeting, but if neither the Secretary nor an Assistant
Secretary is present the chairman for the meeting shall appoint a secretary of
the meeting.

 

(j)            Stockholder
Proposals and Nominations.  Except as otherwise provided by
law, at any annual or special meeting of the stockholders of the Corporation,
only such business shall be conducted as shall have been properly brought
before the meeting.  Except as otherwise
provided herein, in order to have been properly brought before the meeting,
such business must have been either (A) specified in the written notice of
the meeting, or any supplement thereto, given to the stockholders of record on
the record date for such meeting by or at the direction of the Board of
Directors; (B) brought before the meeting at the direction of the Chairman
of the Board, the President or the Board of Directors; or (C) specified in
a written notice given by or on behalf of a stockholder of record on the record
date for such meeting entitled to vote thereat or a duly authorized proxy for
such stockholder, in accordance with all requirements set forth in this Section 6(j).  A notice referred to in clause (C) of
the preceding sentence must be delivered personally to, or mailed to and
received at, the principal executive office of the Corporation, addressed to
the attention of the Secretary, not less than 45 days nor more than 60 days
prior to the meeting; provided, however, that in the event that less than 55
days’ notice or prior public disclosure of the date of the meeting was given or
made to stockholders, notice by the stockholder to be timely must be so
received not later than the close of business on the tenth day following the
day on which such notice of the date of the meeting was mailed or such public
disclosure was made, whichever first occurred. 
Such notice referred to in clause (C) of the first sentence of this
Section 6(j) shall set forth: (i) a full description of each
such item of business proposed to be brought before the meeting and the reasons
for conducting such business at such meeting; (ii) the name and address of
the person proposing to bring such business before the meeting; (iii) the
class and number of shares held of record, held beneficially and represented by
proxy by such person as of the record date for the meeting (if such date has
then been made publicly available) and as of the date of such notice; (iv) if
any item of such business involves a nomination for director, all information
regarding each such nominee that would be required to be set forth in a
definitive proxy statement filed with the Securities and Exchange Commission
(the “Commission”) pursuant to Section 14 of the Securities Exchange Act
of 1934, as amended, or any successor thereto (the “Exchange Act”), and the
written consent of each such nominee to serve if elected; (v) any material
interest of the stockholder in such item of business; and (vi) all other
information that would be required to be filed with the Commission if, with
respect to the business proposed to be brought before the meeting, the person
proposing such business was a participant in a solicitation subject to Section 14
of the Exchange Act.  No business shall
be brought before any meeting of stockholders of the Corporation otherwise than
as provided in this Section 6(j). 
The Board of Directors may require a proposed nominee for director to
furnish such other information as may be required to be set forth in a
stockholder’s notice of nomination which pertains to the nominee or which may
be reasonably required to determine the eligibility of such proposed nominee to
serve as a director of the Corporation. 
The chairman of the meeting may, if the facts warrant, determine that a
nomination or stockholder proposal was not made in accordance with the
foregoing procedure, and if the chairman should so determine, the chairman
shall so declare to the meeting and the defective nomination or proposal shall
be disregarded.

 

(k)           Proxy
Representation.  Every stockholder may authorize another
person or persons to act for such stockholder by proxy in all matters in which
a stockholder is entitled to participate, whether by waiving notice of any
meeting, voting or participating at a meeting. 
Every proxy must be signed by the stockholder or by such person’s
attorney-in-fact.  No proxy shall be
voted or acted upon after three years from its date unless such proxy provides
for a longer period.  A duly executed
proxy shall be irrevocable if it states that it is irrevocable and, if, and
only as long as, it is coupled with an interest sufficient in law to support an
irrevocable power.  A proxy may be made
irrevocable regardless of whether the interest with which it is coupled is an
interest in the stock itself or an interest in the Corporation generally.

 

(l)            Stockholder
Action Without Meetings.  Any action required by the DGCL to be taken
at an annual or special meeting of stockholders of the Corporation, and any
action which

 

5

 

otherwise
may be taken at any annual or special meeting of stockholders of the
Corporation, shall be taken only at a duly called meeting of the stockholders
of the Corporation and, notwithstanding Section 228 of the DGCL, no such
action shall be taken by written consent or consents without a meeting of the
stockholders of the Corporation.

 

ARTICLE II

 

DIRECTORS

 

1. FUNCTIONS AND DEFINITION.

 

The business and affairs of
the Corporation shall be managed by or under the direction of the Board of
Directors of the Corporation.  The term “Whole
Board” herein refers to the total number of directors which the Corporation
would have if there were no vacancies.

 

2. 
QUALIFICATIONS, NUMBER AND VACANCIES.

 

(a)           Qualifications.  A
director need not be a stockholder, a citizen of the United States, or a
resident of the State of Delaware.

 

(b)           Number.  The
number of directors which shall constitute the Whole Board shall be not less
than three nor more than 12 and the exact number shall be fixed from time to
time by the Board of Directors pursuant to a resolution adopted by a majority
of the directors then in office; provided, however, that such maximum number of
directors may be increased from time to time to reflect the rights, if any, of
holders of Preferred Stock to elect directors in accordance with the terms of
the resolution or resolutions adopted by the Board of Directors providing for
the issue of such shares of Preferred Stock. 
The number of directors may be increased or decreased only by action of
the Board of Directors.

 

(c)           Vacancies. 
Subject to the rights, if any, of the holders of any Preferred Stock,
the power to fill vacancies on the Board of Directors (whether by reason of
resignation, removal, an increase in the number of directors or otherwise)
shall be vested solely in the Board of Directors, and vacancies may be filled
by the affirmative vote of a majority of the directors then in office, although
less than a quorum, or by the sole remaining director, unless all directorships
are vacant, in which case the stockholders shall fill the then existing
vacancies.  Any director chosen by the
Board of Directors to fill a vacancy (including a vacancy resulting from an
increase in the number of directors) shall hold office for the remainder of the
full term of the class of directors in which the vacancy occurred (or in which
the new directorship was created) and until that director’s successor shall be
elected and shall have qualified.  No
decrease in the number of directors constituting the Board of Directors may
shorten the term of any incumbent director.

 

(d)           Election.  The
directors, other than those who may be elected by the holders of any series of
Preferred Stock, will be classified with respect to the time for which they
severally hold office in accordance with the Certificate of Incorporation.  At the annual meeting of stockholders, the
stockholders will elect by a vote in accordance with the terms of the
Certificate of Incorporation and of these Bylaws, the directors to succeed
those whose terms expire at such meeting. 
Any director may resign at any time upon written notice to the
Corporation.

 

(e)           Nominations. 
Nominations for the election of Directors may be made the Board of
Directors or by any stockholder entitled to vote for the election of Directors
who complies with

 

6

 

the
provisions of Section 6(j) of Article I of these Bylaws and Article Nine
of the Certificate of Incorporation of the Corporation.

 

3. MEETINGS.

 

(a)           Time. 
Regular meetings of the Board of Directors shall be held at such time as
the Board of Directors shall fix. 
Special meetings shall be held at such time as may be specified in the
notice thereof.

 

(b)           First
Meeting.  The first meeting of each newly elected Board
of Directors may be held immediately after each annual meeting of the
stockholders at the same place at which the meeting is held, and no notice of
such meeting shall be necessary to call the meeting, provided a quorum shall be
present.  In the event such first meeting
is not so held immediately after the annual meeting of the stockholders, it may
be held at such time and place as shall be specified in the notice given as
provided for special meetings of the Board of Directors, or at such time and
place as shall be fixed by the consent in writing of all of the directors.

 

(c)           Place. 
Meetings of the Board of Directors, both regular and special, shall be
held at such place within or without the State of Delaware as shall be fixed by
the Board of Directors.

 

(d)           Call.  No
call shall be required for regular meetings for which the time and place have
been fixed.  Special meetings may be
called by or at the direction of the Chairman of the Board, the President or a
majority of the directors.

 

(e)           Notice
Or Actual Or Constructive Waiver.  No notice shall be required
for regular meetings of the Board of Directors for which the time and place
have been fixed.  Written, oral or any
other mode of notice of the time and place shall be given for special meetings
at least twenty-four hours prior to the meeting; notice may be given by
telephone or telefax (in which case it is effective when given), by overnight
courier or messenger (in which case it is effective when received) or by mail
(in which case it is effective seventy-two hours after mailing by prepaid first
class mail).  The notice of any meeting
need not specify the purpose of the meeting. 
Any requirement of furnishing a notice shall be waived by any director
who signs a written waiver of such notice before or after the time stated
therein.  Attendance of a director at a
meeting of the Board of Directors shall constitute a waiver of notice of such
meeting, except when the director attends a meeting for the express purpose of
objecting, at the beginning of the meeting, to the transaction of any business
because the meeting is not lawfully called or convened.

 

(f)            Quorum
And Action.  A majority of the Whole Board shall
constitute a quorum except when a vacancy or vacancies prevents such majority,
whereupon a majority of the directors in office shall constitute a quorum,
provided that such majority shall constitute at least one-third (1/3) of the
Whole Board.  Any director may
participate in a meeting of the Board of Directors by means of a conference
telephone or similar communications equipment by means of which all directors
participating in the meeting can hear each other, and such participation in a
meeting of the Board of Directors shall constitute presence in person at such
meeting.  A majority of the directors
present, whether or not a quorum is present, may adjourn a meeting to another
time and place. Except as herein otherwise provided, and except as otherwise
provided by the DGCL, the act of the Board of Directors shall be the act by
vote of a majority of the directors present at a meeting, a quorum being
present.  The quorum and voting
provisions herein stated shall not be construed as conflicting with any
provisions of the DGCL, the Certificate of Incorporation and these Bylaws which
govern a meeting of directors held to fill vacancies and newly created
directorships in the Board of Directors.

 

(g)           Chairman
Of The Meeting.  The Chairman of the Board, if present and
acting, shall preside at all meetings of the Board of Directors.  Otherwise, the President, if present and

 

7

 

acting,
shall preside, or in the absence of the President, any other director chosen by
the Board of Directors shall preside.

 

4. REMOVAL OF DIRECTORS.

 

Any or all of the directors
may be removed only in accordance with Article Thirteen of the Certificate
of Incorporation of the Corporation.

 

5. 
COMMITTEES.

 

The Board of Directors may,
by resolution passed by a majority of the Whole Board, designate one or more
committees, each committee to consist of one or more of the directors of the
Corporation.  The Board may designate one
or more directors as alternate members of any committee, who may replace any
absent or disqualified member at any meeting of such committee.  Except as otherwise provided by law, any such
committee, to the extent provided in the resolution of the Board of Directors,
shall have and may exercise the powers of the Board of Directors in the
management of the business and affairs of the Corporation, and may authorize
the seal of the Corporation to be affixed to all papers which may require
it.  In the absence or disqualification
of any member of any such committee or committees, the members thereof present
at any meeting and not disqualified from voting, whether or not they constitute
a quorum, may unanimously appoint another member of the Board of Directors to
act at the meeting in the place of any such absent or disqualified member.

 

6. 
ACTION IN WRITING.

 

Any action required or
permitted to be taken at any meeting of the Board of Directors or any committee
thereof may be taken without a meeting if all members of the Board of Directors
or such committee, as the case may be, consent thereto in writing, and the
writing or writings are filed with the minutes of proceedings of the Board of
Directors or committee.

 

ARTICLE III

 

OFFICERS

 

1. 
OFFICERS.

 

The Board of Directors may
elect or appoint a Chairman of the Board of Directors, a President, one or more
Vice Presidents (which may be denominated with additional descriptive titles),
a Secretary, one or more Assistant Secretaries, a Treasurer, one or more
Assistant Treasurers, and such other officers as it may determine.  The Board of Directors shall designate from
among such elected officers a chief executive officer, a chief operating officer,
a chief financial officer and a principal accounting officer, and may from time
to time make, or provide for, other designations it deems appropriate.  The Board of Directors may also appoint, or
provide for the appointment of, such other officers and agents as may from time
to time appear necessary or advisable in the conduct of the affairs of the
Corporation.  Any number of offices may
be held by the same person, except that no person may at the same time be both
the President and the Secretary.

 

2.  TERM
OF OFFICE AND REMOVAL.

 

Unless otherwise provided in
the resolution of election or appointment, each officer shall hold office until
the meeting of the Board of Directors following the next annual meeting of
stockholders and until such officer’s successor has been elected and qualified
or until the earlier death, retirement, resignation or removal of such
officer.  The Board of Directors may
remove any officer for cause or without cause.

 

8

 

3. 
AUTHORITY AND DUTIES.

 

All officers, as between
themselves and the Corporation, shall have such authority and perform such
duties in the management of the Corporation as may be provided in these Bylaws,
or, to the extent not so provided, by the Board of Directors.

 

4.  THE
CHAIRMAN OF THE BOARD OF DIRECTORS.

 

The Chairman of the Board
may be, but shall not be required to be, the Chief Executive Officer of the
Corporation.  In addition, the Chairman
of the Board of Directors, if present and acting, shall preside at all meetings
of the stockholders and all meetings of the Board of Directors.

 

5.  THE
PRESIDENT.

 

The President may be, but
shall not be required to be, the chief operating officer and/or chief financial
officer of the Corporation.  In the
absence of the Chairman of the Board of Directors, the President shall preside
at all meetings of the stockholders and all meetings of the Board of
Directors.  Except to the extent
otherwise provided in these Bylaws, the President shall have general authority
to execute any and all documents in the name of the Corporation and to
supervise and control all of the business and affairs of the Corporation.  In the absence of the President, his duties
shall be performed and his powers may be exercised by the chief financial officer
of the Corporation or by such other officer as shall be designated by the Board
of Directors.

 

6.  VICE
PRESIDENTS.

 

Any Vice President that may
have been appointed and shall perform such other duties as the Board of
Directors shall prescribe.

 

7.  THE
SECRETARY.

 

The Secretary shall keep in
safe custody the seal of the Corporation and affix it to any instrument when
authorized by the Board of Directors, and shall perform such other duties as
may be prescribed by the Board of Directors, the Chairman of the Board, the
President or the chief financial officer. 
The Secretary (or in such officer’s absence, an Assistant Secretary, but
if neither is present another person selected by the chairman for the meeting)
shall have the duty to record the proceedings of the meetings of the
stockholders and Board of Directors in a book to be kept for that purpose.

 

8.  THE
TREASURER.

 

The Treasurer shall have the
care and custody of the corporate funds, and other valuable effects, including
securities, and shall keep full and accurate accounts of receipts and
disbursements in books belonging to the Corporation and shall deposit all
moneys and other valuable effects in the name and to the credit of the
Corporation in such depositories as may be designated by the Board of
Directors.  The Treasurer shall disburse
the funds of the Corporation as may be ordered by the Board of Directors,
taking proper vouchers for such disbursements, and shall render to the
President and directors, at the regular meetings of the Board of Directors, or
whenever they may require it, an accounting of all transactions as Treasurer
and of the financial condition of the Corporation.  If required by the Board of Directors, the
Treasurer shall give the Corporation a bond for such term, in such sum and with
such surety or sureties as shall be satisfactory to the Board of Directors for
the faithful performance of the duties of such office and for the restoration
to the Corporation, in case of such person’s death, resignation, retirement or
removal from office, of all books, papers, vouchers, money and other property
of whatever kind in such person’s possession or under such person’s control
belonging to the Corporation.

 

9

 

ARTICLE IV

 

CORPORATE SEAL

AND

CORPORATE BOOKS

 

The corporate seal shall be
in such form as the Board of Directors shall prescribe.  The books of the Corporation may be kept
within or without the State of Delaware, at such place or places as the Board
of Directors may, from time to time, determine.

 

ARTICLE V

 

FISCAL YEAR

 

The fiscal year of the
Corporation shall be fixed, and shall be subject to change, by the Board of
Directors.

 

ARTICLE VI

 

INDEMNITY

 

1.  INDEMNIFICATION.

 

(a)           Any person who was or is a party or is
threatened to be made a party to any threatened, pending or completed action,
suit or proceeding, whether civil, criminal, administrative or investigative
(other than an action by or in the right of the Corporation) by reason of the
fact that he or she is or was a director, officer, employee or agent of the
Corporation or is or was serving at the request of the Corporation as a
director, officer, employee or agent of another corporation, partnership, joint
venture, trust or other enterprise (including employee benefit plans) (hereinafter
an “indemnitee”), shall be indemnified and held harmless by the Corporation to
the fullest extent authorized by the DGCL, as the same exists or may hereafter
be amended (but, in the case of any such amendment, only to the extent that
such amendment permits the Corporation to provide broader indemnification than
permitted prior thereto), against expenses (including attorneys’ fees),
judgments, fines and amounts paid in settlement actually and reasonably
incurred by such indemnitee in connection with such action, suit or proceeding,
if the indemnitee acted in good faith and in a manner he or she reasonably
believed to be in or not opposed to the best interests of the Corporation, and
with respect to any criminal action or proceeding, had no reasonable cause to
believe such conduct was unlawful.  The
termination of the proceeding, whether by judgment, order, settlement,
conviction or upon a plea of nolo  contendere or its equivalent,
shall not, in and of itself, create a presumption that the person did not act
in good faith and in a manner which he or she reasonably believed to be in or
not opposed to the best interests of the Corporation and, with respect to any
criminal action or proceeding, had reasonable cause to believe such conduct was
unlawful.

 

(b)           Any person who was or
is a party or is threatened to be made a party to any threatened, pending or
completed action or suit by or in the right of the Corporation to procure a
judgment in its favor by reason of the fact that he or she is or was a director,
officer, employee or agent of the Corporation, or is or was serving at the
request of the corporation as a director, officer, employee or agent of another
corporation, partnership, joint venture, trust or other enterprise (including
employee benefit plans), shall be indemnified and held harmless by the
Corporation to the fullest extent authorized by the DGCL, as the same exists or
may hereafter be amended (but, in the case of any such amendment, only to the
extent that such amendment permits the Corporation to provide broader
indemnification than permitted prior thereto), against expenses (including
attorneys’ fees) actually and reasonably incurred by him or her in connection
with the defense or settlement of such action or suit if he or she acted in good
faith and in a manner he or she reasonably believed to be in or not opposed to
the best interests of the

 

10

 

Corporation
and except that no indemnification shall be made in respect of any claim, issue
or matter as to which such person shall have been adjudged to be liable to the
Corporation unless and only to the extent that the court in which such suit or
action was brought, shall determine, upon application, that, despite the
adjudication of liability but in view of all the circumstances of the case,
such person is fairly and reasonably entitled to indemnity for such expenses
which such court shall deem proper.

 

2.  ADVANCEMENT OF EXPENSES.

 

All reasonable expenses
incurred by or on behalf of the indemnitee in connection with any suit, action
or proceeding may be advanced to the indemnitee by the Corporation.

 

3.  INDEMNIFICATION NOT EXCLUSIVE.

 

The indemnification and
advancement of expenses provided for in this Article V shall not be deemed
exclusive of any other rights which any person may have or hereafter acquire
under any statute, the Certificate of Incorporation, a Bylaw of the
Corporation, agreement, vote of stockholders or disinterested directors or
otherwise.

 

4.  CONTINUATION OF INDEMNIFICATION.

 

The right to indemnification
and advancement of expenses provided by this Article V shall continue as
to a person who has ceased to be a director, officer, employee or agent and
shall inure to the benefit of the heirs, executors and administrators of such
person.

 

ARTICLE VII

 

AMENDMENTS

 

1.  BY THE STOCKHOLDERS.

 

These Bylaws may be amended
by the stockholders only (i) at a meeting called for that purpose and (ii) in
a manner not inconsistent with any provision of law or the Certificate of
Incorporation of the Corporation.

 

2.  BY THE DIRECTORS.

 

These Bylaws may be amended
by the affirmative vote of a majority of the Whole Board, in any manner not
inconsistent with any provision of law or the Certificate of Incorporation of
the Corporation.

 

11Exhibit 10.7

 

Form of Indemnity
Agreement dated as of June 27, 2008

between the Company and
certain members of

Management and its Board
of Directors

 

The Children’s Place
Retail Stores, Inc.

 

INDEMNITY AGREEMENT

 

THIS INDEMNITY AGREEMENT (this “Agreement”)
dated as of June 27, 2008, is made by and between The Children’s Place Retail Stores, Inc.,
a Delaware corporation (the “Company”),
and (“Indemnitee”).

 

RECITALS

 

A.                                    The Company desires to attract and retain
the services of highly qualified individuals as directors and officers.

 

B.                                    The Company’s Amended and Restated
Certificate of Incorporation (the “Certificate”)
and Amended and Restated By-Laws (the “Bylaws”)
require that the Company indemnify its directors and officers to the fullest
extent permitted by the Delaware General Corporation Law, as amended (the “DGCL”), under which the Company is organized, and the
Certificate and Bylaws expressly provide that the indemnification provided
therein is not exclusive and contemplates that the Company may enter into
separate agreements with its directors and officers to set forth specific
indemnification provisions.

 

C.                                    The Company desires and has requested
Indemnitee to serve or continue to serve as a director or officer of the
Company and has proferred this Agreement to Indemnitee as an additional
inducement to serve in such capacity.

 

D.                                    Indemnitee is willing to serve, or to
continue to serve, as a director or officer of the Company if Indemnitee is
furnished the indemnity provided for herein by the Company.

 

AGREEMENT

 

NOW THEREFORE, in consideration of the mutual covenants and
agreements set forth herein, the parties hereto, intending to be legally bound,
hereby agree as follows:

 

1.                                      Definitions.

 

(a)                                  Expenses. 
For purposes of this Agreement, the term “expenses” shall be broadly
construed and shall include, without limitation, all out-of-pocket costs of any
type or nature whatsoever (including, without limitation, all reasonable
attorneys’, other professional and expert fees and related disbursements,
witness fees, and any premiums, security for and other costs 

 

 

relating to any
appeal bond) actually and reasonably incurred by Indemnitee in connection with
investigating, defending, responding to or appealing a proceeding or
establishing or enforcing a right to indemnification or advancement of expenses
under this Agreement.  In the event
Indemnitee is required to spend more than three hours in the course of any day
(including travel time) as a witness (including as a deposition witness) or
otherwise in attendance at a hearing in connection with a proceeding or
otherwise is required to similarly commit his or her time in connection with a
proceeding (other than a proceeding in respect of which Indemnitee is not
entitled to indemnification in accordance with Section 10(b) hereof
or has been determined not to be entitled to indemnification in accordance with
Section 7 hereof), Indemnitee shall be entitled to reasonable compensation
from the Company for his or her time so spent and, accordingly in such event,
the term “expenses” shall also include reasonable compensation for such time
spent by Indemnitee (as well as travel expenses reasonably incurred by
Indemnitee in connection with attending such a hearing), if, but only if,
Indemnitee at such time is not serving as a director or officer of, and is not
in the employment of, or otherwise providing services for compensation to, the
Company or any subsidiary.  The rate of
compensation to be provided to Indemnitee in such event shall be comparable to
that provided to an independent director of the Company for a comparable
commitment of time in accordance with the Company’s then existing director
compensation policies (if any) unless compensation at such rate shall be
unreasonable in relation to the time so spent by Indemnitee.  For such purpose, if the Company’s director
compensation policy provides for a “per meeting” fee, the amount of such fee
shall be presumed to be reasonable compensation for the time so spent by the
Indemnitee as if the time so spent had been spent at a meeting of the Board of
Directors of the Company (unless compensation on such basis shall be
unreasonable in relation to the time so spent by Indemnitee).

 

(b)                                  Judgments. 
For purposes of this Agreement, “judgments” shall be broadly construed
and shall include any judgment (including, without limitation, any award of
damages and any mandatory or prohibitory injunction, rescission, imposition of
a constructive trust, an accounting or any other equitable relief or a
declaratory judgment), arbitral award, fine or penalty, or any tax for which
the Company or any subsidiary would also or otherwise be liable, for which
Indemnitee shall become liable or to which Indemnitee shall become subject as a
result of any proceeding and any amount paid in settlement of any proceeding.

 

(c)                                  Proceeding. 
For purposes of this Agreement, the term “proceeding” shall be broadly
construed and shall include any threatened, pending, or completed action, suit,
arbitration, alternate dispute resolution mechanism, investigation, inquiry,
administrative hearing or other proceeding, whether brought in the right of the
Company or otherwise and whether of a civil, criminal, legislative,
administrative or investigative nature (including any notice of liability for
any tax), and in which Indemnitee was, is or is threatened to be, involved as a
party, a witness or otherwise by reason of: 
(i) the fact that Indemnitee is or was a director or officer of the
Company; (ii) the fact that any 

 

2

 

action was taken
or omitted, or is alleged to have been taken or omitted, by Indemnitee as a
director or officer of the Company or, at a time when Indemnitee was serving as
a director or officer of the Company, in any other capacity on behalf of the
Company or any subsidiary; or (iii) the fact that Indemnitee is or was
serving at the request of the Company as a director, officer, trustee, partner,
employee or fiduciary of another corporation or a partnership, joint venture,
trust, employee benefit plan or other enterprise (as the case may be), whether
or not Indemnitee is serving in any such capacity at the time when any
liability or expense is incurred for which indemnification, reimbursement, or
advancement of expenses is provided under this Agreement (including in each
case, without limitation but subject to Sections 6 and 10, any proceeding
commenced or asserted against Indemnitee relating to any person’s right or
claim to indemnity or advancement of expenses).

 

(d)                                  Subsidiary. 
For purposes of this Agreement, the term “subsidiary” means any
corporation or limited liability company of which more than 50% of the
outstanding voting securities or equity interests are owned, directly or
indirectly, by the Company and one or more of its subsidiaries, and any other
corporation, limited liability company, partnership, joint venture, trust,
employee benefit plan or other enterprise of which Indemnitee is or was serving
at the request of the Company as a director, officer, trustee, partner,
employee or fiduciary.

 

(e)                                  Independent Counsel. 
For purposes of this Agreement, the term “independent counsel” means a
law firm, or a partner (or, if applicable, member) of such a law firm, that is
experienced in matters of corporation law and neither presently is, nor in the
past five (5) years has been, retained to represent:  (i) the Company or Indemnitee in any
matter material to either such party or (ii) any other party to the
proceeding giving rise to a claim for indemnification hereunder.  Notwithstanding the foregoing, the term “independent
counsel” shall not include any person who, under the applicable standards of
professional conduct then prevailing, would have a conflict of interest in
representing either the Company or Indemnitee in an action to determine
Indemnitee’s rights under this Agreement.

 

2.                                      Consideration.

 

(a)                                  The Company acknowledges that its
obligations imposed under this Agreement are in addition to and of force and
effect independent of its obligations to Indemnitee under the Certificate or
Bylaws, that this Agreement is intended to induce Indemnitee to serve, or
continue to serve, as a director or officer of the Company, and that Indemnitee
is relying upon this Agreement in serving as a director or officer of the
Company.

 

(b)                                  In reliance upon the Company’s
obligations under this Agreement, Indemnitee is commencing or continuing to
serve as a director or officer of the Company. 
Indemnitee may at any time and for any reason resign from such position
(subject to any other contractual obligation or any obligation imposed by
operation of law).  The Company shall
have no obligation under this Agreement 

 

3

 

to continue
Indemnitee in such position or any other position for any period of time and
shall not be precluded by the provisions of this Agreement from removing
Indemnitee from any such position at any time.

 

3.                                      Rights to
Indemnification.

 

(a)                                  Indemnification
Respecting Third Party Proceedings.  Subject to Section 10
below, the Company shall indemnify Indemnitee if Indemnitee is, or is
threatened to be, made a party to or otherwise involved in any proceeding,
other than a proceeding by or in the right of the Company to procure a judgment
in its favor, from and against any and all expenses actually and reasonably
incurred by Indemnitee in connection with investigating, defending, responding
to, settling or appealing such proceeding and any judgments resulting from such
a proceeding (including, without limitation, any tax also or otherwise payable
by the Company or any subsidiary for which Indemnitee becomes liable).

 

(b)                                  Indemnification
Respecting Derivative Actions and Direct Actions by the Company. 
Subject to Section 10 below, the Company shall indemnify
Indemnitee, if Indemnitee is, or is threatened to be, made a party to or
otherwise involved in any proceeding by or in the right of the Company to
procure a judgment in its favor against any and all expenses actually and
reasonably incurred by Indemnitee in connection with investigating, defending,
responding to settling or appealing such proceeding; provided, however, that
indemnification shall be provided for any claim, issue or matter as to which
Indemnitee has been adjudged to be liable to the Company only to the extent
that the court in which such judgment was rendered or the Court of Chancery of
the State of Delaware shall determine upon application that, despite the
adjudication of liability but in view of all the circumstances of the case,
Indemnitee is fairly and reasonably entitled to indemnity for such expenses
which such court shall deem proper.

 

For the avoidance of doubt, it is understood and
agreed that any costs or expenses incurred by Indemnitee in connection with
Indemnitee or any person associated with Indemnitee soliciting proxies with
respect to the election of a director of the Company or any other matter
submitted for a vote of the stockholders of the Company shall not be considered
costs or expenses relating to a proceeding subject to indemnification or
advancement pursuant to this Agreement; it being further understood, however,
that (i) expenses actually and reasonably incurred by Indemnitee in
connection with investigating, defending, responding to, settling or appealing
a proceeding to which Indemnitee is made a party or otherwise involved or
threatened to be made a party or otherwise involved and that arises out of or
relates to any such proxy solicitation shall be expenses subject to
indemnification and advancement pursuant to this Agreement except as otherwise
provided by section 10 and (ii) nothing in this sentence is intended to
limit the Company’s expenditure of funds in connection with the solicitation of
proxies on behalf of the Board of Directors of the Company or the reimbursement
by the Company as permitted by law of costs or expenses in connection with any
other solicitation of proxies that is determined to have been for the benefit
of the Company.

 

4

 

4.                                      Indemnification of
Expenses of Successful Defense. 
Notwithstanding any other provision of this Agreement, to the extent
that Indemnitee has been successful on the merits or otherwise in defense of
any proceeding or in defense of any claim, issue or matter therein, including
the dismissal of any proceeding without prejudice, the Company shall indemnify
Indemnitee from and against all expenses actually and reasonably incurred by
Indemnitee in connection with investigating, defending, responding to or
appealing such proceeding.

 

5.                                      Partial Indemnification. 
If Indemnitee is entitled under any provision of this Agreement to
indemnification by the Company for some or a portion of any expenses actually
and reasonably incurred by Indemnitee in investigating, defending, responding
to, settling or appealing a proceeding, but is precluded by applicable law or
the specific terms of this Agreement to indemnification for the total amount
thereof, the Company shall nevertheless indemnify Indemnitee for the portion
thereof to which Indemnitee is entitled.

 

6.                                      Right to Advancement of
Expenses.  To the extent not prohibited by law, the
Company shall as herein further provided reimburse Indemnitee, in advance of
determining Indemnitee’s entitlement to indemnification hereunder, for any
expenses actually and reasonably incurred by Indemnitee in connection with
investigating, defending, responding to, settling or appealing any
proceeding.  Indemnitee shall also be
entitled to reimbursement of any and all expenses actually and reasonably
incurred by Indemnitee in preparing and submitting to the Company information
to support requests for indemnification or advancement of expenses
hereunder.  Such advancement or
reimbursement shall be made within twenty (20) days after the receipt by the
Company of (i) a written statement or statements requesting such advances
or reimbursement (which shall include copies of invoices received by Indemnitee
documenting with reasonable particularity the services for which such expenses
were incurred but, in the case of invoices in connection with legal services,
no references to legal work performed or to expenditures made shall be required
that, in the reasonable judgment of Indemnitee’s counsel, would cause
Indemnitee to waive any privilege accorded by applicable law) and (ii) upon
request of the Company, an undertaking confirming Indemnitee’s obligation to
repay the advancement of expenses if and to the extent that it is ultimately
determined by a court of competent jurisdiction in a final judgment, not
subject to appeal, that Indemnitee is not entitled to be indemnified by the Company
against such expenses.  Advances shall be
unsecured, interest free and without regard to Indemnitee’s ability to repay
the expenses.  Indemnitee agrees that,
without limiting the Company’s right to seek further written confirmation from
Indemnitee to such effect, the execution and delivery of this Agreement by
Indemnitee shall constitute an undertaking by Indemnitee to repay to the
Company any advance of expenses made by the Company if and to the extent (and
only to the extent) that it is ultimately determined by a court of competent
jurisdiction in a final judgment, not subject to appeal, that Indemnitee is not
entitled to be indemnified by the Company against such expenses.  The right to advancement of expenses under
this Section 6 shall continue until final disposition of any proceeding,
including any appeal thereof. 
Notwithstanding the foregoing, Indemnitee shall not be entitled to
advancement of expenses incurred in a proceeding commenced by Indemnitee for which
indemnity is excluded pursuant to Section 10(b) of this Agreement,
provided that the Company shall 

 

5

 

make a determination with respect thereto within 20
days after receiving a request from Indemnitee for such advancement (but the
Company shall not be precluded from thereafter making such determination based
on additional facts or information that becomes available to it).

 

7.                                      Notice and Other
Procedures.

 

(a)                                  Notification of
Proceeding.  Indemnitee will notify the Company in writing
promptly upon being served with any summons, citation, subpoena, complaint,
indictment, information, notice of liability or other document relating to any
proceeding which may be subject to indemnification or advancement of expenses
hereunder; provided, however, that the failure of Indemnitee to so notify the
Company shall not relieve the Company of any obligation which it may have to
provide indemnification or to advance expenses to Indemnitee under this
Agreement or otherwise unless the Company shall have been materially prejudiced
by not having notice of such proceeding.

 

(b)                                  Request for
Indemnification and Indemnification Payments.  Indemnitee
shall notify the Company promptly in writing upon receiving notice of the
issuance of any judgment or arbitral award or any demand or other requirement
to make a payment of a judgment in respect of which Indemnitee believes
Indemnitee is entitled to indemnification under the terms of this Agreement;
provided, however, that, except as may be provided by any applicable statute of
limitations, the failure of Indemnitee so to notify the Company shall not
relieve the Company of any obligation which it may have to provide
indemnification to Indemnitee against such judgment under this Agreement or
otherwise.

 

(c)                                  Indemnification Determinations. 
Upon request of Indemnitee, the Company, to the extent required by the
DGCL, shall promptly (and in any event in accordance with the following timing
requirements), make a determination in good faith as to whether with respect to
the matter as to which such indemnification is requested Indemnitee satisfied
the applicable standard for conduct established under the DGCL for
indemnification, such determination to be made:

 

(i)                                     if Indemnitee is a director or officer at
the time the determination is to be made, by (A) the Board of Directors of
the Company by the vote at a meeting thereof of a majority of the members of
the Board who are not parties to such proceeding, even if less than a quorum
(or by the unanimous written consent of all the Board members, provided there
are members who are not parties to such proceeding) or (B) by a committee
of the Board of Directors composed of directors who are not parties to such
proceeding and authorized and designated to make such decision by the vote at a
meeting of the Board of Directors of a majority of the members of the Board who
are not parties to such proceeding, even if less than a quorum (or authorized
and designated by the unanimous written consent of all the committee members),
or (C) if there are no directors who are not parties to such proceeding,
or if so directed by the Board by 

 

6

 

action of the
directors satisfying the requirements of clause (A) of this subparagraph
or if so directed by a committee of the Board composed and designated in
compliance with the requirements of clause (B) of this subparagraph, by
independent legal counsel in a written opinion; or

 

(ii)                                  if Indemnitee is not a director or
officer at the time the determination is to be made, (A) by the Board of
Directors or a committee thereof by action thereof satisfying the requirements
of clause (A) or (B) of subparagraph (i) of this Section or
(B) by an officer of the Company duly authorized by action of the Board of
Directors or a committee thereof by action thereof satisfying the requirements
of clause (A) or (B) of subparagraph (i) of this Section or
(C) if directed by the Board of Directors or a duly authorized committee
or officer, by independent legal counsel in a written opinion.

 

The Company shall
use its best efforts to cause a meeting of the Board or a Board committee to be
held for purposes of making the determination of Indemnitee’s satisfaction of
the applicable standard of conduct, or the appointment of independent legal counsel
to make such determination, to be held within 15 days of receipt of Indemnitee’s
request for indemnification and to have any such determination, including a
determination to be made by independent legal counsel, completed within 60 days
of such receipt.  Alternatively, the
Company may seek to have such determination made by action of the shareholders
of the Company at a duly held meeting, provided that the Company has reasonably
determined that such determination can be made within 60 days of such receipt.  The Company shall give Indemnitee prompt
written notice of the scheduling of any such Board, Board committee or
shareholder meeting and the making of any such determination.

 

(d)                                  Standards to be Applied. 
Any such determination shall be reasonably made by the decision-making
party based upon the facts known to the decision-making party at the time such
determination is made.  The termination
of a proceeding by judgment, order, settlement conviction, or upon a plea of
nolo contendere or its equivalent shall not, by itself, create a presumption
that the Indemnitee did not act in good faith and in a manner which he or she
reasonably believed to be in or not opposed to the best interest of the
corporation, and, with respect to any criminal proceeding, had reasonable cause
to believe that his or her conduct was unlawful.  With respect to actions concerning an
employee benefit plan of the Company or any subsidiary, if Indemnitee acted in
good faith and in a manner he or she reasonably believed to be in the interest
of the participants and beneficiaries of the employee benefit plan shall be
deemed to have acted in a manner not opposed to the best interests of the
corporation.  If the determination shall
be to the effect that Indemnitee satisfied the applicable standard of conduct,
the amount of indemnity to which Indemnitee shall be entitled shall be paid to
Indemnitee promptly.  If the
determination is to the effect that the Indemnitee did not meet the applicable
standard of conduct in respect of the matter for which indemnification is
sought hereunder, the Company shall give Indemnitee a reasonably detailed
statement of the reasons for such determination.  Such 

 

7

 

determination
shall be without prejudice to Indemnitee’s right to have a court determination
thereof made in accordance with Section 7(d) hereof.  Claims for advancement of expenses shall be
made under the provisions of Section 6 hereof rather than Section 7(c) and
this Section 7(d).

 

(e)                                  Assumption of Defense. 
In the event the Company shall be requested by Indemnitee to pay the
expenses of any proceeding and the Company shall acknowledge in writing to
Indemnitee its obligation under Section 6 to pay such expenses, the
Company, if appropriate, shall be entitled to assume the defense of such
proceeding, or to participate to the extent permissible in such proceeding,
with counsel reasonably acceptable to Indemnitee.  Upon assumption of the defense by the Company
and the retention of such counsel by the Company, the Company shall not be
liable to Indemnitee under this Agreement for any fees of counsel subsequently
incurred by Indemnitee with respect to the same proceeding, provided that
Indemnitee shall have the right to employ separate counsel in such proceeding
at Indemnitee’s sole cost and expense. 
Notwithstanding the foregoing, if Indemnitee’s counsel delivers a
written notice to the Company stating that such counsel has reasonably
concluded that there is an actual or potential conflict of interest between the
Company and Indemnitee in the conduct of any such defense or the Company shall
not, in fact, have employed counsel or otherwise actively pursued the defense
of such proceeding within a reasonable time, then in any such event the fees
and expenses of Indemnitee’s counsel to review whether there is such a conflict
of interest and provide notice of a conflict of interest and to defend such
proceeding shall be subject to the indemnification and advancement of expense
provisions of this Agreement.

 

8.                                      Enforcement of Rights Hereunder.

 

(a)                                  Enforcement. 
In the event the Company (i) fails to make a timely indemnification
payment or a timely determination of Indemnitee’s entitlement to
indemnification in accordance with Section 7(c) and (d) above
and Section 10 or (ii) determines in accordance with Section 7(c) and
(d) above that Indemnitee is not entitled to indemnification or (iii) fails
to advance in a timely manner expenses in accordance with Section 6 above,
then Indemnitee shall have the right to apply to any court of competent
jurisdiction for the purpose of determining Indemnitee’s entitlement to
indemnification or enforcing Indemnitee’s right to indemnification or
advancement of expenses pursuant to this Agreement, as applicable.  In such a hearing or proceeding, the burden
of proof shall be on the Company to prove that indemnification or advancement
of expenses to Indemnitee is not required under this Agreement or permitted by
applicable law.  Any determination by the
Company (including its Board of Directors, stockholders or independent counsel)
that Indemnitee is not entitled to indemnification hereunder shall not be a
defense by the Company to an action to determine Indemnitee’s entitlement to
indemnification nor create any presumption that Indemnitee is not entitled to
indemnification or advancement of expenses hereunder and Indemnitee shall be
entitled to a de novo determination of its entitlement thereto.

 

8

 

(b)                                  Indemnification of
Enforcement and Certain Other Expenses.  The Company
shall indemnify Indemnitee against all expenses actually and reasonably
incurred by Indemnitee in connection with any hearing or proceeding to
determine, or enforce, Indemnitee’s right to indemnification or advancement of
expenses hereunder (including any proceeding commenced by Indemnitee), except
in a situation where (i) the Company has determined that Section 10
is applicable or has determined in accordance herewith that Indemnitee is not
entitled to indemnification hereunder by reason of not satisfying the
applicable standard of conduct and (ii) the Company prevails on the merits
in all material respects in such hearing or proceeding with respect to such
determination; it being understood that Indemnitee shall not be entitled
hereunder to advancement by the Company of expenses incurred by Indemnitee in
connection with a proceeding commenced by Indemnitee to enforce his or her
right to advancement of expenses or indemnification hereunder (but shall be
entitled hereunder to indemnification against such expenses as were actually
and reasonably incurred by Indemnitee in connection with such a proceeding upon
conclusion thereof unless it has been determined in such proceeding that
Indemnitee was not entitled to the advancement of expenses or indemnification
sought by Indemnitee to be enforced).

 

(c)                                  No Offset.  Indemnitee’s rights hereunder to receive
payment of amounts as indemnification or advancement of expenses shall not be
subject to offset, set-off or reduction on account of, and shall be separate
from, any obligation or liability that Indemnitee may have to the Company or
any subsidiary and shall be paid without regard thereto.

 

9.                                      Insurance. 
To the extent that the Company maintains an insurance policy or policies
providing liability insurance for directors or officers of the Company or of
any subsidiary, including any “tail coverage (“D&O Insurance”), the Company
shall use its best efforts to cause Indemnitee, at the Company’s expense, to be
covered by such policy or policies in accordance with its or their terms to the
maximum extent of the coverage available for any then-current director or
officer of the Company or any subsidiary under such policy or policies.  If, at the time of its receipt of a notice of
a proceeding pursuant to the terms hereof, the Company has D&O Insurance in
effect and the proceeding relates to one or more claims that could be covered
by such D&O Insurance, the Company shall give prompt notice of the
commencement of such proceeding to the insurers in accordance with the
procedures set forth in the respective policies.  The Company shall thereafter take all
necessary or desirable action to cause such insurers to pay, on behalf of
Indemnitee, all amounts payable as a result of such proceeding in accordance
with the terms of such policies and shall not discriminate against Indemnitee
in regard to the Indemnitiee’s access to coverage under such policy or policies
in comparison to any other then-current director or officer.  Indemnitee agrees to cooperate with the
Company by providing any reasonable release requested by the insurance carrier
and corresponding release of the Company for payments made to Indemnitee in
satisfaction of the Company’s indemnification and other obligations hereunder.

 

9

 

10.                               Exceptions.

 

(a)                                  Certain Matters. 
Any provision herein to the contrary notwithstanding, the Company shall
not be obligated pursuant to the terms of this Agreement to indemnify
Indemnitee on account of (i) any proceeding with respect to remuneration
paid to Indemnitee as a director, officer, employee or in any other capacity if
it is determined by final judgment or other final adjudication that such
remuneration was provided in violation of law (it being understood, however,
that Indemnitee’s right to indemnification and advancement of expenses with
regard to remuneration matters are further limited as provided by Section 10(b) hereof)
or (ii) a final judgment rendered against Indemnitee for an accounting,
disgorgement or repayment of profits made from the purchase or sale by
Indemnitee of securities of the Company, or in connection with a settlement by
or on behalf of Indemnitee to the extent it is acknowledged by Indemnitee and
the Company that such amount paid in settlement resulted from Indemnitee’s
conduct from which Indemnitee received monetary personal profit, in violation
of the provisions of Section 16(b) of the Securities Exchange Act of
1934, as amended, or (iii) any proceeding for which the Board (or any
committee thereof) has determined prior to the date of this Agreement that the
Indemnitee is not entitled to indemnification. 
For purposes of the foregoing sentence, a final judgment or other
adjudication may be reached in either the underlying proceeding or action in
connection with which indemnification is sought or a separate proceeding or
action to establish rights and liabilities under this Agreement.  The exclusion provided by clause (i) of
the first sentence of this Section 10(a) shall not limit the
exclusion provided by Section 10(b) hereof.

 

(b)                                  Claims Initiated by
Indemnitee.  Any provision herein to the contrary
notwithstanding, the Company shall not be obligated to indemnify or advance
expenses to Indemnitee with respect to proceedings or claims initiated or
brought by Indemnitee against the Company or its current or former directors,
officers, employees or other agents and not by way of defense, except (i) with
respect to proceedings brought to establish or enforce a right to
indemnification or advancement of expenses under this Agreement or under any
other agreement, provision in the Certificate or Bylaws or applicable law or (ii) with
respect to any other proceeding initiated by Indemnitee that is either approved
by the Board of Directors or with respect to which Indemnitee’s participation
is required by applicable law.  However,
indemnification or advancement of expenses may be provided by the Company in
specific cases as to which indemnification or advancement of expenses is
excluded by the foregoing provisions of this Section 10(b) if the
Board of Directors determines it to be appropriate.

 

(c)                                  Unauthorized
Settlements.  Any provision herein to the contrary
notwithstanding, the Company shall not be obligated pursuant to the terms of
this Agreement to indemnify Indemnitee under this Agreement for any amounts
paid in settlement of a proceeding effected without the Company’s written
consent.  Neither the Company nor
Indemnitee shall unreasonably withhold consent to any proposed settlement;
provided, however, that the Company may in any event 

 

10

 

decline to consent
to (or to otherwise admit or agree to any liability for indemnification
hereunder in respect of) any proposed settlement if the Company is also a party
in such proceeding and determines in good faith that such settlement is not in
the best interests of the Company and its stockholders.

 

(d)                                  Securities Law
Liabilities.  Any provision herein to the contrary
notwithstanding, the Company shall not be obligated pursuant to the terms of
this Agreement to indemnify Indemnitee or otherwise act in violation of any
undertaking appearing in and required by the rules and regulations
promulgated under the Securities Act of 1933, as amended (the “Act”), or in any registration statement
filed with the SEC under the Act. 
Indemnitee acknowledges that paragraph (h) of Item 512 of
Regulation S-K currently generally requires the Company to undertake in
connection with any registration statement filed under the Act to submit the
issue of the enforceability of Indemnitee’s rights under this Agreement in
connection with any liability under the Act to a court of appropriate
jurisdiction with respect to the consistency of the indemnification provided
hereunder with public policy and to be governed by any final adjudication of
such issue.  Indemnitee specifically
agrees that any such undertaking shall supersede any contrary provisions of
this Agreement and that Indemnitee’s rights hereunder shall be subject to any
such undertaking.  In addition,
Indemnitee acknowledges that the Securities and Exchange Commission believes
that indemnification for liabilities arising under the federal securities laws
is against public policy and is, therefore, unenforceable and that claims for
indemnification should be submitted to appropriate courts for
adjudication.  Accordingly, Indemnitee
further acknowledges that the Company may submit claims for indemnification
against liabilities imposed under such laws made by Indemnitee hereunder to
such adjudication in connection with handling such claims in accordance with Section 7
hereof.

 

11.                               Nonexclusivity and
Survival of Rights.  The provisions for indemnification and
advancement of expenses set forth in this Agreement shall not be deemed exclusive
of any other rights which Indemnitee may at any time be entitled under any
provision of applicable law, the Certificate, Bylaws, any insurance policy or
other agreements, both as to action in Indemnitee’s capacity as a director or
officer or any other capacity.  However,
where they are applicable, the procedures and standards provided by this
Agreement shall apply with respect to Indemnitee’s right to indemnification and
advancement of expenses.  Indemnitee’s
rights hereunder shall continue after Indemnitee has ceased acting as a
director or officer of the Company and shall inure to the benefit of the heirs,
executors, administrators and assigns of Indemnitee.  The obligations and duties of the Company to
Indemnitee under this Agreement shall be binding on the Company and its
successors and assigns until terminated in accordance with its terms.  The Company shall require any successor
(whether direct or indirect, by purchase, merger, consolidation or otherwise)
to all or substantially all of the business or assets of the Company, expressly
to assume and agree in writing to perform this Agreement in the same manner and
to the same extent that the Company would be required to perform if no such
succession had taken place.  No
amendment, alteration or repeal of this Agreement or of any provision hereof
shall limit or restrict any right of Indemnitee under this 

 

11

 

Agreement in respect of any action taken or omitted by
such Indemnitee in his or her status as such prior to such amendment,
alteration or repeal.  No right or remedy
herein conferred is intended to be exclusive of any other right or remedy, and
every other right and remedy shall be cumulative and in addition to every other
right and remedy given hereunder or now or hereafter existing at law or in
equity or otherwise.  The assertion or
employment of any right or remedy hereunder, or otherwise, by Indemnitee shall
not prevent the concurrent assertion or employment of any other right or remedy
by Indemnitee.

 

12.                               Subrogation. 
In the event a payment is made to Indemnitee under this Agreement, the
Company shall be subrogated to the extent of such payment to all of the rights
of recovery of Indemnitee, who, at the request and expense of the Company, shall
execute all papers required and shall do everything that may be reasonably
necessary to secure such rights, including the execution of such documents
necessary to enable the Company effectively to bring suit to enforce such
rights.

 

13.                               Interpretation of
Agreement.  It is understood that the parties hereto
intend this Agreement to be interpreted and enforced so as to provide
indemnification to Indemnitee to the fullest extent now or hereafter permitted
by law.  To the extent that a change in
the DGCL, whether by statute or judicial decision, permits greater
indemnification or advancement of expenses than would be afforded currently
under the Certificate, Bylaws and this Agreement, it is the intent of the
parties hereto that Indemnitee shall enjoy by this Agreement the greater
benefits so afforded by such change.

 

14.                               Severability. 
If any provision of this Agreement shall be held to be invalid, illegal
or unenforceable for any reason whatsoever, (a) the validity, legality and
enforceability of the remaining provisions of the Agreement (including without
limitation, all portions of any paragraphs of this Agreement containing any
such provision held to be invalid, illegal or unenforceable, that are not
themselves invalid, illegal or unenforceable) shall not in any way be affected
or impaired thereby; and (b) to the fullest extent possible, the
provisions of this Agreement (including, without limitation, all portions of
any paragraph of this Agreement containing any such provision held to be
invalid, illegal or unenforceable, that are not themselves invalid, illegal or
unenforceable) shall be construed so as to give effect to the intent manifested
by the provision held invalid, illegal or unenforceable and to give effect to Section 13
hereof.

 

15.                               Amendment and Waiver. 
No supplement, modification, amendment, termination, or cancellation of
this Agreement shall be binding unless executed in writing by the parties
hereto.  No waiver of any of the
provisions of this Agreement shall be deemed or shall constitute a waiver of
any other provision hereof (whether or not similar) nor shall such waiver
constitute a continuing waiver.

 

16.                               Notice. 
Except as otherwise provided herein, any notice or demand which, by the
provisions hereof, is required or which may be given to or served upon the
parties hereto shall be in writing and, if by telegram, telecopy or telex,
shall be deemed to have been validly served, given or delivered when sent, if
by overnight delivery, courier or personal delivery, shall be deemed to have
been validly served, given or delivered 

 

12

 

upon actual delivery and, if mailed, shall be deemed
to have been validly served, given or delivered three (3) business days
after deposit in the United States mail, as registered or certified mail, with
proper postage prepaid and addressed to the party or parties to be notified at
the addresses set forth on the signature page of this Agreement (or such
other address(es) as a party may designate for itself by like notice).  If to the Company, notices and demands shall
be delivered to the attention of the Secretary of the Company.

 

17.                               Governing Law. 
This Agreement shall be governed exclusively by and construed according
to the laws of the State of Delaware, without giving effect to the principles,
policies or provisions thereof governing conflict or choice of laws.

 

18.                               Counterparts. 
This Agreement may be executed in one or more counterparts, each of
which shall for all purposes be deemed to be an original but all of which
together shall constitute but one and the same Agreement.  Only one such counterpart need be produced to
evidence the existence of this Agreement.

 

19.                               Headings. 
The headings of the sections of this Agreement are inserted for
convenience only and shall not be deemed to constitute part of this Agreement
or to affect the construction hereof.

 

20.                               Entire Agreement. 
This Agreement constitutes the entire agreement between the parties with
respect to the subject matter hereof and supersedes all prior agreements,
understandings and negotiations, written and oral, between the parties with
respect to the subject matter of this Agreement; provided, however, that this
Agreement is a supplement to and in furtherance of the Certificate, the Bylaws,
the DGCL and any other applicable law, and shall not be deemed a substitute
therefor, and does not diminish or abrogate any rights of Indemnitee
thereunder.

 

13

 

IN WITNESS WHEREOF, the parties hereto have entered into this Agreement
effective as of the date first above written.

 

	
   

  	
  THE CHILDREN’S PLACE RETAIL 

  STORES, INC.

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Name:

  	
   

  
	
   

  	
   

  	
  Title:

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  INDEMNITEE

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  Signature of Indemnitee

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  Print or Type Name of Indemnitee

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  Indemnitee’s Address for Notice

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00147-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00147-of-00352.parquet"}]]