Document:

exhibit101april12008.htm

    
      
         

      

      
         

        
          

        

      

      
         

        
          EXHIBIT 10.1

          Time Based RSUs

          Dorrit J. Bern

        

      

    

    CHARMING
SHOPPES, INC.

     

    2004
STOCK AWARD AND INCENTIVE PLAN

     

    RESTRICTED
STOCK UNITS AGREEMENT

     

    Agreement
(the “Agreement”), dated as of April 1, 2008 (the “Grant Date”), between
CHARMING SHOPPES, INC. (the “Company”) and DORRIT J. BERN (the
“Executive”).

     

    WHEREAS,
the Executive is presently employed by the Company in the capacity of President
and Chief Executive Officer, and is a member of the Board of Directors of the
Company where she currently serves as Chairman of the Board;

     

    WHEREAS,
the Company recognizes that the Executive’s contribution has been substantial
and meritorious and, as such, the Executive has demonstrated unique
qualifications to act in an executive capacity for the Company; and

     

    WHEREAS,
the Company and the Executive are parties to an Employment Agreement dated as of
December 31, 2007, as amended (the “Employment Agreement”), which provides for
the grant of restricted stock units to reward the Executive for her
contributions to the Company.

     

    NOW
THEREFORE, it is agreed as follows:

     

    
      	
              1.  

            	
              Grant of Restricted
      Stock Units; Consideration; Executive
    Acknowledgments.

            

    

     

    The
Company hereby confirms the grant, under the Company’s 2004 Stock Award and
Incentive Plan (the “Plan”), of _______ Restricted Stock Units on the Grant
Date.  The Restricted Stock Units are subject to the terms and
conditions of the Plan, the Charming Shoppes Variable Deferred Compensation Plan
(the “Deferred Compensation Plan”) and this Agreement.  Executive is
required to pay no cash consideration for the grant of the Restricted Stock
Units, but performance of services prior to the expiration of the risk of
forfeiture relating to the Restricted Stock Units and otherwise during her
employment, and her agreement to abide by the terms set forth in the Plan, this
Agreement, and any Rules and Regulations under the Plan, shall be deemed to be
consideration for this grant of Restricted Stock Units.  Executive
acknowledges and agrees that (i) the Restricted Stock Units are nontransferable
as provided in Section 3(e) hereof and in the Plan (ii) the Restricted Stock
Units are subject to forfeiture in the event of Executive’s termination of
employment in certain circumstances, as specified in and under Section 3 hereof,
and (iii) sales of shares of the Company’s common stock, par value $0.10 per
share (“Shares”), following the lapse of restrictions and settlement of the
Restricted Stock Units, will be subject to the Company’s policies regulating
trading by employees, including any applicable “blackout” or other designated
periods in which sales of Shares are not permitted.

     

    
      	
              2.  

            	
              Incorporation of Plan
      and Deferred Compensation Plan by
  Reference.

            

    

     

    The
Restricted Stock Units have been granted to Executive under the
Plan.  All of the terms, conditions, and other provisions of the Plan
are hereby incorporated by reference into this Agreement.  Capitalized
terms used in this Agreement but not defined herein or noted to be defined in
the Employment Agreement shall have the same meanings as in the
Plan.  If there is

     

    
      
        
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    any
conflict between the provisions of this Agreement and the provisions of the
Plan, the provisions of the Plan shall govern.  In addition, the terms
of the deferral of settlement of the Restricted Stock Units are governed by the
Deferred Compensation Plan, a copy of which previously has been provided to
Executive, which terms are also incorporated herein by
reference.  Executive hereby accepts the grant of Restricted Stock
Units, acknowledges receipt of a copy of the Plan and the Deferred Compensation
Plan, and agrees to be bound by all the terms and provisions hereof and thereof
(as presently in effect or hereafter amended), and by all decisions and
determinations of the Board or Committee under the Plan and the Deferred
Compensation Plan.

     

    
      	
              3.  

            	
              Restrictions on
      Restricted Stock Units.

            

    

     

    (a) Nature of Restricted Stock
Units; Vesting and Deferral of Settlement.   Each
Restricted Stock Unit represents the right to receive one Share, which will be
issued and delivered upon vesting in accordance with the vesting provisions
specified in this Section 3, to the extent the Restricted Stock Units have not
been forfeited, at the settlement date applicable under Section
5.  Restricted Stock Units are subject to a risk of forfeiture before
they vest.  This Award differs from awards of “restricted stock,” in
that such awards involve issuance of Shares at or shortly after grant, with such
shares subject to forfeiture (i.e., such shares must be returned to the Company
if forfeited) during any restricted period.  With respect to
Restricted Stock Units, Executive has no voting rights or rights to actual
dividends prior to the vesting of the Restricted Stock Units, but Executive is
entitled to dividend equivalents in accordance with Section 4.

     

    (b) Termination of
Employment.

     

    (i) Forfeiture.  Except
as provided below, if Executive’s employment terminates and she thereafter is
not an employee of the Company or any of its subsidiaries (a “Termination”), and
such Termination is for any reason other than death, Disability, Termination by
Executive for Good Reason, a Termination by the Company for reasons other than
Cause, or a Qualifying Termination, the Restricted Stock Units that have not
vested before such Termination shall be forfeited at the time of such
Termination.  For purposes of this Agreement, “Cause,” “Good Reason,”
“Disability” and “Qualifying Termination” shall have the meanings ascribed to
such terms in the Employment Agreement.  Accordingly, except as
provided below, Executive’s voluntary Termination (other than due to Disability
or for Good Reason) or Termination by the Company for Cause will result in all
Restricted Stock Units that have not vested at or before such Termination being
immediately forfeited.

     

    (c) Vesting
Schedule.  Unless the Restricted Stock Units vests earlier
under Section 3(d) below, the Restricted Stock Units shall vest in accordance
with the following schedule, subject to Executive’s continued employment with
the Company or a subsidiary through the relevant Vesting Date:

     

    

    
      
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              Vesting
      Date

            	
              Restricted Stock Units
      Vesting

            
	 
      	 
      
	
              April
      1, 2011

            	
              1/3

            
	
              April
      1, 2012

            	
              1/3

            
	
              April
      1, 2013

            	
              1/3

            

    

    

    The
vesting of the Restricted Stock Units is cumulative, but shall not exceed
100%.

    

    (d) Vesting
Acceleration.  Vesting shall be accelerated as
follows:

     

    (i) In the
event of a Termination due to death, Disability or a Qualifying Termination, the
Restricted Stock Units that have not previously vested shall become immediately
vested on the date of Termination.

     

    (ii) In the
event of a Termination by Executive for Good Reason, or Termination by the
Company for reasons other than Cause, the portion of the Restricted Stock Units
that would have vested if Executive had continued in employment with the Company
for an additional two years following the date of Termination shall become
immediately vested on the date of Termination.

     

    (iii) In the
event of a Change of Control (as defined in the Employment Agreement) at a time
when Executive is employed by the Company or any of its subsidiaries, if the
acquiring company does not convert Executive’s outstanding Restricted Stock
Units to restricted stock units for stock of the acquiring company (or the
parent of the acquiring company, if the acquirer is a subsidiary) that have the
same economic value, vesting provisions and other terms as Executive’s
outstanding Restricted Stock Units, the Restricted Stock Units shall become
fully vested immediately prior to the occurrence of the Change of
Control.

     

    (iv) If, upon
a Change of Control, the acquiring company does convert the Executive’s
outstanding Restricted Stock Units into restricted stock units for stock of the
acquiring company (or the parent of the acquiring company, if the acquirer is a
subsidiary) that have the same economic value, vesting provisions and other
terms as the Executive’s outstanding Restricted Stock Units, the portion of the
Restricted Stock Units that would have vested over the two-year period following
such Change in Control shall become fully vested immediately prior to the
occurrence of the Change in Control, and the remaining vesting schedule shall be
accelerated by two years.

     

    (v) Notwithstanding
anything in this Agreement to the contrary, the vesting of the Restricted Stock
Units shall not be less favorable to Executive than the vesting specified for
stock awards under the Employment Agreement.

     

    (e) Nontransferability.  Restricted
Stock Units and all related rights hereunder shall not be transferable or
assignable by Executive other than by will or the laws of descent and
distribution, and may not be pledged, hypothecated, or otherwise encumbered in
any way or subject to execution, attachment, lien, or similar
process.

     

    
      
        
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              4.  

            	
              Executive’s Account,
      Dividend Equivalents and
Adjustments.

            

    

     

    (a) Account.  Restricted
Stock Units are bookkeeping units, and do not constitute ownership of Shares or
any other equity security.  The Company shall maintain a bookkeeping
account for Executive (the “Account”) reflecting the number of Restricted Stock
Units then credited to Executive hereunder as a result of this grant of
Restricted Stock Units and any crediting of additional Restricted Stock Units to
Executive pursuant to payments equivalent to dividends paid on Shares under
Section 4(b) (“Dividend Equivalents”).

     

    (b) Dividend
Equivalents.  Dividend Equivalents shall be credited in
accordance with the provisions of the Deferred Compensation Plan and the
methodology specified by the Company for crediting dividend equivalents on Share
units in effect from time to time thereunder.  It is understood that
the intention hereunder is that Dividend Equivalents be credited in a manner
that provides an economic benefit to Executive equivalent to dividends on Shares
without undue administrative burdens on the Company.  All Dividend
Equivalents deemed reinvested in additional Restricted Stock Units shall be
subject to the same risk of forfeiture, vesting provisions, and other
restrictions and terms as apply to the original Restricted Stock
Units.  Executive shall not be entitled to receive actual dividends in
respect of Restricted Stock Units prior to the issuance of Shares in settlement
thereof.

     

    (c) Adjustments.  The
number of Restricted Stock Units credited to Executive’s Account shall be
adjusted by the Committee, in accordance with Section 10(c) of the Plan, in
order to preserve, without enlarging Executive’s rights with respect to, such
Restricted Stock Units.  Any such adjustment shall take into account
any crediting of Restricted Stock Units or cash to the Executive under Section
4(b) in connection with such transaction or event.

     

    
      	
              5.  

            	
              Settlement.

            

    

     

    (a) Time of
Settlement.  Settlement of Restricted Stock Units shall occur
at the later of the applicable Vesting Date or the applicable date specified for
payment in accordance with the Restricted Stock Units Election that was filed by
Executive under the Deferred Compensation Plan on or before December 31 of the
year prior to the Grant Date.  The Company shall settle the Restricted
Stock Units by making delivery of Shares in such manner as may be specified
under the Deferred Compensation Plan; provided, however, that if permitted under
the Deferred Compensation Plan, the Company may make delivery of Shares in
settlement of Restricted Stock Units by either delivering one or more
certificates representing such Shares to the Executive, registered in the name
of the Executive (and any joint name, if so directed by the Executive), or by
depositing such Shares into a stock brokerage account maintained for the
Executive (or of which the Executive is a joint owner, with the consent of the
Executive).  If the Company determines to settle Restricted Stock
Units by making a deposit of Shares into such an account, the Company may settle
any fractional Restricted Stock Unit by means of such deposit.  In
other circumstances or if so determined by the Company, the Company shall
instead pay cash in lieu of fractional Shares, on such basis as the Committee or
the Board may determine.  In no event will the Company issue
fractional Shares.

     

    (b) Effect of
Settlement.  Upon settlement of the Restricted Stock Units, all
obligations of the Company in respect of such Restricted Stock Units shall be
terminated.

     

    
      
        
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    (c) Section
409A.  Other provisions of this Agreement notwithstanding, in
order to comply with Section 409A of the Internal Revenue Code (the “Code”), (i)
if the timing of any settlement hereunder would result in a distribution of
Shares to Executive at a time when Executive is a “Specified Employee” under
Code Section 409A and precluded under Code Section 409A from then receiving the
distribution, such settlement shall be delayed in accordance with Section 7.2(c)
of the Deferred Compensation Plan (but without any effect on the timing of any
settlement that otherwise would occur six months or more after Executive’s
separation from service within the meaning of Code Section 409A); (ii) any
distribution in settlement of the Restricted Stock Units that is triggered by a
termination of employment hereunder will occur only at such time as Executive
has had a “separation from service” for purposes of Code Section 409A,
regardless of whether any other event might be viewed as a termination of
employment by the Company for any other purpose; (iii) the Company shall have no
power or authority to accelerate the distribution and settlement of the
Restricted Stock Units except to the extent such acceleration is permitted under
Code Section 409A; (iv) all other requirements of Code Section 409A and
regulations thereunder shall apply to the extent necessary so that the Executive
is not subject to constructive receipt of income under Code Section 409A prior
to the actual distribution of Restricted Stock Units hereunder or to tax
penalties under Code Section 409A; and (v) other restrictions and limitations
under the Deferred Compensation Plan with respect to distributions apply to the
Restricted Stock Units subject to Code Section 409A.

     

    
      	
              6.  

            	
              Tax
      Withholding.

            

    

     

    The
Company will withhold from the number of Shares to be delivered upon settlement
a number of whole Shares which has a Fair Market Value equal to the minimum
federal, state and local tax withholding obligations relating to such
settlement.  The Shares withheld will be valued at the Fair Market
Value determined in accordance with procedures for valuing Shares as determined
by the Committee and otherwise in effect at the time of settlement, including
under the Deferred Compensation Plan.

     

    
      	
              7.  

            	
              Miscellaneous.

            

    

     

    This
Agreement shall be binding upon the heirs, executors, administrators, and
successors of the parties.  This Agreement constitutes the entire
agreement between the parties with respect to the Restricted Stock Units granted
hereby, and supersedes any prior agreements or documents with respect to such
Restricted Stock Units.  No amendment, alteration, suspension,
discontinuation, or termination of this Agreement which may impose any
additional obligation upon the Company or materially and adversely affect the
rights of Executive with respect to the Restricted Stock Units shall be valid
unless in each instance such amendment, alteration, suspension, discontinuation,
or termination is expressed in a written instrument duly executed in the name
and on behalf of the Company and by Executive.

     

     

    
      
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    By
accepting this grant of Restricted Stock Units, Executive agrees to the terms of
this Agreement and agrees to be bound by all the terms and provisions of the
Agreement, the Plan (as presently in effect or hereafter amended) and the
Deferred Compensation Plan, and by all decisions and determinations of the
Committee and the Board.

     

    
      	 
      	
              CHARMING
      SHOPPES, INC.

            
	 
      	 
      
	 
      	 
      
	 
      	
              BY:  ______________________                                                                     

            
	 
      	
              (Authorized
      Officer)

            
	 
      	 
      
	 
      	
              EXECUTIVE:

            
	 
      	 
      
	 
      	 
      
	 
      	
              BY: ______________________                                                                      

            
	 
      	
              Dorrit
      J. Bern

            

    

    

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    
 

    
      
        
          6exhibit102april12008.htm

    
      
         

      

      
         

        
          

        

      

      
         

        
          EXHIBIT 10.2 

          Time Based SARs

          Dorrit J. Bern

        

      

    

    CHARMING
SHOPPES, INC.

     

    2004
STOCK AWARD AND INCENTIVE PLAN

     

    STOCK
APPRECIATION RIGHTS AGREEMENT

     

    Agreement
dated as of April 1, 2008 (the “Grant Date”) between CHARMING SHOPPES, INC. (the
“Company”) and DORRIT J. BERN (the “Executive”).

     

    WHEREAS,
the Executive is presently employed by the Company in the capacity of President
and Chief Executive Officer, and is a member of the Board of Directors of the
Company where she currently serves as Chairman of the Board;

     

    WHEREAS,
the Company recognizes that the Executive’s contribution has been substantial
and meritorious and, as such, the Executive has demonstrated unique
qualifications to act in an executive capacity for the Company; and

     

    WHEREAS,
the Company and the Executive are parties to an Employment Agreement dated as of
December 31, 2007, as amended (the “Employment Agreement”), which provides for
the grant of stock appreciation rights on Company common stock to reward the
Executive for her contributions to the Company.

     

    NOW
THEREFORE, it is agreed as follows:

     

    1. Grant of SAR, Consideration
and Executive Acknowledgments.

     

    The
Company hereby confirms the grant, under the Company’s 2004 Stock Award and
Incentive Plan (the “Plan”), to the Executive on the Grant Date of a stock
appreciation right (the “SAR”) with respect to ____ shares of the Company’s
common stock, par value $.10 per share (the “Shares”).  The SAR
represents the right to receive, at exercise, a number of Shares with a then
Fair Market Value equal to the appreciation in value of the Shares over the base
amount.  The base amount is $_________ per share, which is the fair
market value of a Share on the Grant Date (the “Base Amount”).

     

    The
Executive shall be required to pay no consideration for the grant of the SAR
except for her agreement to provide services to the Company prior to exercise
and her agreement to abide by the terms set forth in the Plan, this Stock
Appreciation Rights Agreement (the “Agreement”), and any Rules and Regulations
under the Plan.  The Executive acknowledges and agrees that (i) the
SAR is nontransferable, except as provided in Section 8 hereof and in the Plan,
(ii) the SAR is subject to forfeiture in the event of Executive’s termination of
employment in certain circumstances, as specified in Section 7 hereof, and (iii)
sales of Shares will be subject to the Company’s policies regulating trading by
employees, including any applicable “blackout” or other designated periods in
which sales of Shares are not permitted.

     

    2. Incorporation of Plan by
Reference.

     

    The SAR
has been granted to the Executive under the Plan.  All of the terms,
conditions and other provisions of the Plan are hereby incorporated by reference
into this Agreement.  Capitalized terms used in this Agreement but not
defined herein or noted to be defined in the

     

    
      
         

      

      
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    Employment
Agreement shall have the same meanings as in the Plan.  If there is
any conflict between the provisions of this Agreement and the provisions of the
Plan, the provisions of the Plan shall govern.  The Executive hereby
accepts the grant of the SAR, acknowledges receipt of the Plan, and agrees to be
bound by all the terms and provisions hereof and thereof (as presently in effect
or hereafter amended), and by all decisions and determinations of the Board or
Committee under the Plan.

     

    3. Date When
Exercisable.

     

    This SAR
may be exercised only if and to the extent that it has become exercisable as
specified in this Agreement.  Subject to acceleration as provided in
this Section 3 and Section 6 below, limitations on exercisability imposed in
Section 7 below, and all other terms and conditions of this Agreement, this SAR
shall become exercisable as follows:

     

    
      	
              Vesting
      Date

            	
              Exercisable
      SAR

            
	 
      	 
      
	
              April 1,
      2011

            	
              1/3

            
	
              April 1, 2012

            	
              1/3

            
	
              April 1, 2013

            	
              1/3

            

    

     

    The
exercisability of the SAR is cumulative, but shall not exceed 100% of the Shares
subject to the SAR.  If the foregoing schedule would produce
fractional Shares, the number of Shares for which the SAR becomes exercisable
shall be rounded to the nearest whole Share.  The SAR shall expire at
5:00 p.m. on the day before the seventh anniversary of the Grant Date, unless
the SAR terminates on an earlier date as provided herein.

     

    4. Method of
Exercise.

     

    (a) The SAR
may be exercised, to the extent the SAR is then vested and exercisable, by
delivery to and receipt by the Secretary of the Company at 3750 State Road,
Bensalem, Pennsylvania 19020, of a written notice, signed by the Executive,
specifying the number of Shares which the Executive wishes to
exercise.  Simultaneous with or as soon as practicable after the
receipt of such notice, the Company shall deliver to the Executive a number of
whole Shares that will be determined by dividing the Stock Appreciation by the
Fair Market Value of a Share on the date of exercise, less applicable tax
withholding.  “Stock Appreciation” shall mean the amount that results
from multiplying (i) the number of Shares as to which the SAR is exercised by
(ii) the amount by which the Fair Market Value of a Share on the date of
exercise exceeds the Base Amount.  Only whole Shares will be delivered
pursuant to the exercise of the SAR.

     

    (b) Upon
exercise of the SAR, the Company will deliver a stock certificate for the Shares
to be delivered, with any requisite legend affixed.  Such exercise may
include instructions to the Company to deliver Shares due upon exercise of the
SAR to any registered broker or dealer designated by the Committee in lieu of
delivery to the Executive.  Such instructions must designate the
account into which the Shares are to be deposited.  The method of
exercise and related matters governed by this Section 4 shall be subject to
Rules and Regulations adopted by the Committee and in effect at the time the
Executive’s notice of exercise is received by the Company; such Rules and
Regulations may vary from or limit the procedures specified in this

     

    
      
         

      

      
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    Section
4, and may specify other methods of exercise.  Upon exercise of any
portion of the SAR, the exercised portion of the SAR shall terminate and cease
to be outstanding.

     

    (c) If, on
the date on which the vested SAR will terminate according to its terms, the
Executive has not given the Company written notice of exercise, and if the Stock
Appreciation amount is a positive number, then the outstanding vested portion of
the SAR shall be automatically exercised and taxes shall be withheld as
described in Section 5 below.

     

    5. Tax
Withholding.

     

    The
Company will withhold from the Shares to be delivered upon the exercise of the
SAR a sufficient number of such Shares to satisfy the minimum federal, state and
local tax withholding obligations relating to the SAR exercise.  The
Shares withheld will be valued at the Fair Market Value, determined in such
manner as may be specified under the Plan.

     

    6. Acceleration of
Exercisability.

     

    (a) If the
Executive’s employment is terminated by the Company without Cause (as defined in
the Employment Agreement) or if she terminates her employment for Good Reason
(as defined in the Employment Agreement), the portion of the SAR that would have
vested if the Executive had continued in employment with the Company for an
additional two years following the date of termination shall become vested and
exercisable on the date of termination.

     

    (b) If the
Executive’s employment is terminated due to death or Disability (as defined in
the Employment Agreement), the vesting of the SAR shall be accelerated in full
so that all of the SAR shall become vested and exercisable on the date of the
Executive’s death or termination of employment due to Disability.

     

    (c) The
following provisions shall apply in the event of a Change in Control (as defined
in the Employment Agreement):

     

    (i) In the
event of a Change of Control at a time when the Executive is employed by the
Company or any of its subsidiaries, if the acquiring company does not convert
the Executive’s outstanding SAR to a stock appreciation right with respect to
the stock of the acquiring company (or the parent of the acquiring company, if
the acquirer is a subsidiary) that has the same economic value, vesting
provisions and other terms as the Executive’s outstanding SAR, this SAR shall
become fully vested and exercisable immediately prior to the occurrence of such
Change of Control.

     

    (ii) If, upon
a Change in Control, the acquiring company does convert the Executive’s
outstanding SAR to a stock appreciation right with respect to stock of the
acquiring company (or the parent of the acquiring company, if the acquirer is a
subsidiary) that has the same economic value, vesting provisions and other terms
as the Executive’s outstanding SAR, the portion of this SAR that would have
vested over the two-year period following such Change in Control shall become
vested and exercisable on the date of the Change in Control, and the remaining
vesting schedule shall be accelerated by two years.

     

    
      
         

      

      
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    (iii) If the
Executive’s employment is terminated as a result of a Qualifying Termination (as
defined in the Employment Agreement), the SAR shall become fully vested and
exercisable on the date of the Qualifying Termination.

     

    (d) Notwithstanding
anything in this Agreement to the contrary, vesting of the SAR shall not be less
favorable to the Executive than the vesting specified for equity awards under
the Employment Agreement.

     

    7. Exercisability after
Termination of Employment.

     

    (a) This SAR
shall terminate and no longer be exercisable at the earlier of the scheduled
expiration time of the SAR, as set forth in Section 3 above, or the applicable
time specified below at or following a termination of employment of the
Executive:

     

    (i) at the
expiration of three months after Executive’s employment with the Company and its
subsidiaries is terminated for Cause or the Executive voluntarily terminates her
employment, other than for Good Reason or Disability; or

     

    (ii) at the
expiration of one year after Executive’s employment with the Company and its
subsidiaries is terminated by the Company without Cause or the Executive
terminates her employment for Good Reason; or

     

    (iii) at the
expiration of one year after the Executive’s employment with the Company and its
subsidiaries is terminated by reason of a Qualifying Termination;
or

     

    (iv) at the
expiration of one year after the termination of the Executive’s employment with
the Company and its subsidiaries by reason of the Executive’s Disability or
death.

     

    (b) The
Executive shall not be deemed to have terminated her employment for purposes of
this Section 7 if her employment terminates with the Company but thereafter
continues with one of the Company’s subsidiaries or terminates with a subsidiary
but thereafter continues with the Company or another subsidiary.

     

    8. Limits on Transfer of SARs;
Beneficiaries.

     

    No right
or interest of a participant in this SAR shall be pledged, encumbered or
hypothecated to or in favor of any third party or shall be subject to any lien,
obligation or liability of the Executive to any third party.  This SAR
shall not be transferable to any third party by the Executive otherwise than by
will or the laws of descent and distribution, and this SAR shall be exercisable,
during the lifetime of the Executive, only by the Executive; provided, however,
that the Executive will be entitled to designate a beneficiary or beneficiaries
to exercise her rights under this SAR upon the death of Executive, in the manner
and to the extent permitted by the Committee under Rules and Regulations adopted
by the Committee under the Plan, and the Committee may permit transfers
otherwise to the extent permitted under the Plan.

     

    
      
         

      

      
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    9. Investment
Representation.

     

    Unless,
at the time of any exercise of this SAR, the issuance and delivery of Shares
hereunder to the Executive is registered under a then-effective registration
statement under the Securities Act of 1933, as amended (the “Securities Act”),
and complies with all applicable registration requirements under state
securities laws, the Executive shall provide to the Company, as a condition to
the valid exercise of this SAR and the delivery of any certificates representing
Shares, appropriate evidence, satisfactory in form and substance to the Company,
that she is acquiring the Shares for investment and not with a view to the
distribution of the Shares or any interest in the Shares, and a representation
to the effect that the Executive shall make no sale or other disposition of the
Shares unless (i) the Company shall have received an opinion of counsel
satisfactory to it in form and substance that such sale or other disposition may
be made without registration under the then-applicable provisions of the
Securities Act, the related rules and regulations of the Securities and Exchange
Commission, and applicable state securities laws and regulations, or (ii) the
sale or other disposition of the Shares shall be registered under a currently
effective registration statement under the Securities Act and complies with all
applicable registration requirements under state securities laws. The
certificates representing the Shares may bear an appropriate legend giving
notice of the foregoing restriction on transfer of the Shares, and any other
restrictive legend deemed necessary or appropriate by the
Committee.

     

    10. Miscellaneous. 

     

    This
Agreement shall be binding upon the heirs, executors, administrators and
successors of the parties.  This Agreement constitutes the entire
agreement between the parties with respect to the SAR, and supersedes any prior
agreements or documents with respect to the SAR.  No amendment,
alteration, suspension, discontinuation or termination of this Agreement which
may impose any additional obligation upon the Company or impair the rights of
the Executive with respect to the SAR shall be valid unless in each instance
such amendment, alteration, suspension, discontinuation or termination is
expressed in a written instrument duly executed in the name and on behalf of the
Company and by the Executive.

     

    
      	 
      	
              CHARMING
      SHOPPES, INC.

            
	 
      	 
      
	 
      	 
      
	 
      	
              BY:
      ___________________________________

            
	 
      	
              (Authorized
      Officer)

            
	 
      	 
      
	 
      	 
      
	 
      	
              EXECUTIVE:___________________________

            
	 
      	
              Dorrit
      J. Bern

            

    

    

    
      
         

      

      
        5

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00140-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00140-of-00352.parquet"}]]