Document:

EX-10.8(b)

 Exhibit 10.8(b) 

 

			
	 Name of Optionee:
	  	[●]
	 Number of Shares of Class A Common Stock subject to Option:
	  	[●]
	 Price Per Share:
	  	$1.00
	 Date of Grant:
	  	[●]

 CHINOS HOLDINGS, INC. 

2011 EQUITY INCENTIVE PLAN 

THIS AWARD AND ANY SECURITIES ISSUED UPON EXERCISE OF THIS STOCK OPTION ARE SUBJECT TO RESTRICTIONS ON VOTING AND TRANSFER AND REQUIREMENTS
OF SALE AND OTHER PROVISIONS AS SET FORTH IN THE MANAGEMENT STOCKHOLDERS AGREEMENT. 
 CHINOS HOLDINGS, INC. STRONGLY ENCOURAGES YOU
TO SEEK THE ADVICE OF YOUR OWN LEGAL AND FINANCIAL ADVISORS WITH RESPECT TO YOUR AWARD AND ITS TAX CONSEQUENCES. 
 NON-STATUTORY STOCK OPTION AGREEMENT 
 This
agreement (the “Agreement”) evidences a stock option granted by Chinos Holdings, Inc. (the “Company”) to the optionee set forth above (the “Optionee”), pursuant to and subject to the terms of the
Chinos Holdings, Inc. Equity Incentive Plan (as amended from time to time in accordance with the provisions thereof and subject to the limitations on amendment set forth therein, the “Plan”), which is incorporated herein by
reference. 
 1. Grant of Stock Option. The Company grants to the Optionee on the date set forth above (the “Date of
Grant”) an option (the “Stock Option”) to purchase, on the terms provided herein and in the Plan (including, without limitation, the exercise provisions in Section 6(b)(3) of the Plan), the number of shares of
Class A Common Stock of the Company set forth above (the “Shares”) with an exercise price per Share as set forth above, in each case subject to adjustment pursuant to Section 7 of the Plan in respect of transactions
occurring after the Date of Grant. 
 The Stock Option evidenced by this Agreement is a
non-statutory option (that is, an option that is not to be treated as a stock option described in subsection (b) of Section 422 of the Code) and is granted to the Optionee in connection with the
Optionee’s employment by the Company and its qualifying subsidiaries. For purposes of the immediately preceding sentence, “qualifying subsidiary” means a subsidiary of the Company as to which the Company has a “controlling
interest” as described in Treas. Reg. §1.409A-1(b)(5)(iii)(E)(1).  
 2. Meaning
of Certain Terms. Except as otherwise defined herein (including for the avoidance of doubt, in any Schedules attached hereto, which are incorporated herein and are a part hereof), all capitalized terms used herein have the same meaning as in the
Plan. The following terms have the following meanings: 

	 	(a)	 “Beneficiary” means, in the event of the Optionee’s death, the beneficiary named in the
written designation (in form acceptable to the Administrator) most recently filed with the Administrator by the Optionee prior to the Optionee’s death and not subsequently revoked, or, if there is no such designated beneficiary, the
Optionee’s estate. An effective beneficiary designation will be treated as having been revoked only upon receipt by the Administrator, prior to the Optionee’s death, of an instrument of revocation in form acceptable to the Administrator.

  

	 	(b)	 “Cash Proceeds” means, as of any Determination Date occurring after the Closing Date, the
cumulative total of (i) all cash, (ii) any Designated Fee (as defined below) and (iii) the fair market value of any Marketable Securities (valued in accordance with Section 2(n) below), in each case, actually received by the
Investors after the Closing Date and on or before such Determination Date in respect of the Investor Shares (including, for the avoidance of doubt, any cash and the fair market value of any Marketable Securities (valued in accordance with
Section 2(n) below), in each case, actually received by the Investors after the Closing Date and on or before such Determination Date in respect of equity securities received by the Investors in exchange for the Investor Shares (including, for
the avoidance of doubt, in connection with any recapitalization of the Company) that at the time of such exchange did not constitute Marketable Securities (such securities, the “Designated Securities”)). In addition, for purposes of
calculating Cash Proceeds as of any Determination Date occurring after the Closing Date, the fair market value, as determined in good faith by the applicable Investor as of the applicable distribution date, of any Distributed Securities actually
distributed by such Investor to its limited partners after the Closing Date and on or before a Determination Date in respect of the Investor Shares shall also be included. For the avoidance of doubt, any management, consulting, monitoring, advisory
or similar fees, if any, received by the Investors or any of their Affiliates from the Company or any of its Affiliates shall be excluded from the determination of Cash Proceeds, except to the extent that the periodic management consulting fees paid
pursuant to any agreement entered into between the Investor or its Affiliates and the Company or its Affiliates in respect of the provision of management consulting, business advisory or monitoring services to the Company or its Affiliates exceed
$8,000,000 per calendar year (any such amount in excess of $8,000,000 in a calendar year being the “Designated Fee”). 

  

	 	(c)	 “Change of Control” shall have the meaning set forth in the Management Stockholders Agreement.

  

	 	(d)	 “Closing Date” means March 7, 2011. 

  
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	 	(e)	 “Competitive Activity” means engaging in, directly or indirectly, alone or as principal,
agent, employee, employer, consultant, investor, partner or manager, or providing advisory or other services to, or owning any stock or any other ownership interest in, or making any financial investment in, any business (or entity) that engages in
any business in which the Company or its Affiliates are engaged, or that provides any material products and/or services that the Company or its subsidiaries are actively developing or designing (provided that where such Competitive Activity occurs
following termination of Employment, the Competitive Activity shall be determined as of the date of termination); provided, that the foregoing shall not restrict the Optionee from owning less than two percent (2%) of the outstanding
securities of any class of securities listed on a national exchange or inter-dealer quotation system. 

  

	 	(f)	 “Confidential Information” means all information of the Company and its Affiliates in whatever
form that is not generally known to the public, including, without limitation, customer lists, trade practices, marketing techniques, fit specifications, design, pricing structures and practices, research, trade secrets, processes, systems,
programs, methods, software, merchandising, distribution, planning, inventory and financial control, store design and staffing. 

  

	 	(g)	 “Determination Date” means (i) as to any cash received by the Investors in respect of the
Investor Shares, the Designated Securities or the Designated Fee, the date such cash is actually received, (ii) as to any Marketable Securities actually received by the Investors in respect of the Investor Shares or the Designated Securities,
the “measurement date” as referred to in Section 2(n) below or (iii) as to any Distributed Securities, the date such securities are actually distributed by an Investor to its limited partners. 

 

	 	(h)	 “Distributed Securities” means the Investor Shares to the extent distributed in kind in a
distribution by an Investor to its limited partners. 

  

	 	(i)	 “Initial Investment” means $1,119,721,083.00. 

 

	 	(j)	 “Investor Shares” means the shares of the Company’s Class A common stock and
Class L common stock (or other equity securities) issued to the Investors on, before or after the Closing Date, including any stock, securities or other property or interests received by the
Investors in respect of such shares in connection with any stock dividend or other similar distribution, stock split or combination of shares, recapitalization, conversion, reorganization, consolidation,
split-up, spin-off, combination, repurchase, merger, exchange of stock or other transaction or event that affects the Company’s capital occurring after the date of
issuance. 

  

	 	(k)	 “Investors” means TPG and LGP. 

  
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	 	(l)	 “Investors Equity Investment” shall mean, as of any Determination Date occurring after the
Closing Date, the cumulative total of (i) the Initial Investment and (ii) the aggregate consideration paid by the Investors to acquire Investor Shares following the Closing, including all related transaction expenses.

  

	 	(m)	 “LGP” means, collectively, Green Equity Investors V, L.P., Green Equity Investors Side V, L.P.
and LGP Chino Co-Invest, LLC and any of their respective Affiliates and funds or partnerships managed or advised by any of them or any of their respective Affiliates that is or becomes a holder of Company
Shares (as such term is defined in the Management Stockholders Agreement). 

  

	 	(n)	 “Marketable Securities” means any equity security received by the Investors in respect of
either Stock constituting Investor Shares or any equity securities previously received by the Investors in substitution or exchange for such Stock (including Stock or any security issued by the Company in substitution or exchange for such Stock)
that is listed and readily tradable on an established national securities market or a “Designated Offshore Securities Market”, as such term is defined in Regulation S under the Securities Act of 1933, as amended (the “Securities
Act”), in each case as of the applicable Determination Date; provided, however, that Marketable Securities shall not include any such equity securities described above to the extent that, and only for so long as, the equity
securities of such type or class received by the Investors (x) are subject to a contractual lock-up or similar agreement restricting transferability, (y) may not be distributed or resold pursuant to
Rule 144 under the Securities Act (or any successor provision thereof), without volume limitation or other restrictions on transfer under Rule 144 under the Securities Act (or any successor provision thereof), including without application of
paragraphs (c), (e), (f) and (h) of such Rule 144, or (z) are subject to any other prohibitions or material restrictions on transfer under applicable securities laws (including, for example, the Investors’ possession of material
nonpublic information which, if used in purchasing or selling such equity securities, could result in a violation of Rule 10b-5 promulgated under the Securities Exchange Act of 1934, as amended). For purposes
of this Agreement, the value of the Marketable Securities on any “measurement date” (which shall be the date of initial receipt of Marketable Securities by the Investors (or in the case of any equity securities to which the proviso of the
immediately preceding sentence is applicable, the date any such contractual lock-up or similar restriction expires)) and the last day of each calendar quarter beginning with the calendar quarter within which
the initial receipt of Marketable Securities by the Investors occurred (or, in the case of any equity securities to which the proviso of the immediately preceding sentence is applicable, the calendar quarter within which any such contractual lock-up or similar restriction expires) shall be equal to the average of the Trading Price of 

  
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such Marketable Securities over each of the forty-five (45) consecutive Trading Days immediately preceding (and including) such measurement date; provided, however, that the
Administrator shall be entitled to make equitable adjustments in good faith to such valuation methodology in the event of an extraordinary transaction occurring during any such forty-five (45) Trading Day period ending on such measurement date.

  

	 	(o)	 “Option Holder” means the Optionee or, if as of the relevant time the Stock Option has passed
to a Beneficiary, the Beneficiary. 

  

	 	(p)	 “Solicitation” means, directly or indirectly, (i) inducing, encouraging, causing or
assisting another to induce, encourage or cause any customers or suppliers of the Company or its Affiliates to terminate, diminish or otherwise adversely modify their relationship with the Company or any such Affiliate, (ii) soliciting,
recruiting, hiring, or otherwise encouraging the employment decisions of, any employee of the Company or its Affiliates (or any individual who had been an employee of the Company or its Affiliates in the
one-year period prior to the termination of the Optionee’s employment) on behalf of any person or any entity other than the Company or its Affiliates or (iii) soliciting, inducing, encouraging or
causing any independent contractor providing services to the Company or its Affiliates to terminate or diminish its relationship with them. 

  

	 	(q)	 “TPG” means, collectively, TPG Partners VI, L.P., TPG Chinos
Co-Invest, L.P. and any of their respective Affiliates and funds or partnerships managed or advised by any of them or any of their respective Affiliates that is or becomes a holder of Company Shares (as such
term is defined in the Management Stockholders Agreement). 

  

	 	(r)	 “Trading Day” means each business day during such calendar quarter in which the Trading Price
of a share of stock that constitutes Marketable Securities is reported by the principal securities exchange. 

  

	 	(s)	 “Trading Price” means, as of any Trading Day, the closing price on such day of a share of
stock that constitutes Marketable Securities as reported on the principal securities exchange on which such share of stock that constitutes Marketable Securities is then listed or admitted to trade. 

 

	 	(t)	 “Tranche 1 Option” means the portion of the Stock Option to purchase the number of shares of
Stock set forth in Schedule A that is subject to time-based vesting in accordance with the terms of this Agreement, including Schedule A, and the Plan. 

  

	 	(u)	 “Tranche 2 Option” means the portion of the Stock Option to purchase the number of shares of
Stock set forth in Schedule A that is subject to performance-based vesting in accordance with the terms of this Agreement, including Schedule A, and the Plan. 

  
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	 	(v)	 “Unauthorized Disclosure” means failing to hold in strict confidence any proprietary or
Confidential Information related to the Company or its Affiliates, except to the extent that such Confidential Information (i) becomes a matter of public record or is published in a newspaper, magazine or other periodical available to the
general public, other than as a result of the Optionee’s act or omission (whether direct or indirect), (ii) is required to be disclosed by any law, regulation or order of any court, other tribunal, regulatory commission or administrative
agency, provided that the Optionee gives prompt notice of such requirement to the Company to enable to the Company to seek an appropriate protective order prior to such disclosure, or (iii) is required to be used or disclosed by the Optionee to
perform properly his/her duties of Employment. 

 3. Vesting and Exercisability; Method of Exercise; Treatment of the
Stock Option Upon Cessation of Employment. 
  

	 	(a)	 Generally. As used herein with respect to the Stock Option or any portion thereof, the term
“vest” means to become exercisable and the term “vested” as applied to any outstanding Stock Option means that the Stock Option is then exercisable, subject in each case to the terms of the Plan. The Tranche 1 Option and the
Tranche 2 Option will vest in accordance with the terms of Schedule A attached hereto. For the avoidance of doubt, in the event that all or a portion of a Tranche 2 Option vests on any Determination Date, such Tranche 2 Option (or the
applicable portion thereof) will not cease to be vested upon the occurrence of a subsequent Determination Date in which the applicable targets are no longer deemed achieved. 

 

	 	(b)	 Exercise of the Stock Option. No portion of the Stock Option may be exercised until such portion vests
in accordance with the terms of Schedule A attached hereto. Each election to exercise any vested portion of the Stock Option will be subject to the terms and conditions of the Plan and shall be in writing, signed by the Option Holder (subject
to any restrictions provided under the Plan and the Management Stockholders Agreement). Each such written exercise election must be received by the Company at its principal office or by such other party as the Administrator may prescribe and be
accompanied by payment in full as provided in the Plan. The exercise price may be paid (i) by cash or check acceptable to the Administrator, (ii) at the election of the Option Holder, by the Administrator’s holding back shares
otherwise deliverable under the Stock Option having a fair market value equal to the exercise price, (iii) by such other means, if any, as may be acceptable to the Administrator, or (iv) by any combination of the foregoing permissible
forms of payment; provided, however, that the method of paying the exercise price set forth in subsection (ii) above shall not be available to the Optionee if the Optionee’s Employment is terminated by the Company for Cause
or if the Company determines that, at the time of termination of Employment, there 

  
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exist circumstances that would have entitled the Company and its subsidiaries to terminate the Optionee’s Employment for Cause. In the event that the Stock Option is exercised by a person
other than the Optionee, the Company will be under no obligation to deliver shares hereunder unless and until it is satisfied as to the authority of the Option Holder to exercise the Stock Option and compliance with applicable securities laws and
the terms of the Management Stockholders Agreement. The latest date on which the Stock Option or any portion thereof may be exercised will be the 10th anniversary of the Date of Grant (the “Final Exercise Date”) and if not exercised
by such date the Stock Option or any remaining portion thereof will thereupon immediately terminate. 

  

	 	(c)	 Treatment of the Stock Option Upon Cessation of Employment. If the Optionee’s Employment ceases,
the Stock Option, to the extent not already vested (after giving effect to any acceleration of vesting to the extent provided on Schedule A hereto) will be immediately forfeited, and any vested portion of the Stock Option that is then
outstanding will be treated as follows: 

 (i) Subject to clauses (ii), (iii) and (iv) below and Section 4 of
this Agreement, the Stock Option, to the extent vested as of the cessation of the Optionee’s Employment (which, for the avoidance of doubt, shall include the portion of any Stock Option that vests upon such termination in accordance with
Schedule A attached hereto, if any), will remain exercisable until the earlier of (A) the 30th day following the date of such cessation of Employment and (B) the Final Exercise Date, and except to the extent previously exercised as
permitted by this Section 3(c)(i) will thereupon immediately terminate. 
 (ii) Subject to clause (iv) below and Section 4 of
this Agreement, the Stock Option, to the extent vested as of the cessation of the Optionee’s Employment due to death or Disability, will remain exercisable until the earlier of (A) the first anniversary of the Optionee’s death or
cessation of Employment due to Disability, as the case may be and (B) the Final Exercise Date, and except to the extent previously exercised as permitted by this Section 3(c)(ii) will thereupon immediately terminate. 

(iii) Subject to clause (iv) below and Section 4 of this Agreement, the Stock Option, to the extent vested as of the cessation of
the Optionee’s Employment by the Company other than for Cause, or by the Optionee for Good Reason (which, for the avoidance of doubt, shall include the portion of any Stock Option that vests upon such termination in accordance with Schedule A
attached hereto, if any), will remain exercisable until the earlier of (A) the 90th day following the cessation of the Optionee’s Employment by the Company other than for Cause or by the
Optionee for Good Reason and (B) the Final Exercise Date, and except to the extent previously exercised as permitted by this Section 3(c)(iii) will thereupon immediately terminate. 

  
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 (iv) If the Optionee’s Employment is terminated by the Company and its subsidiaries in
connection with an act or failure to act constituting Cause (as determined by the Administrator in accordance with the terms of the Plan), or if the Optionee voluntarily terminates his or her Employment and, at the time of such termination, there
exist (as determined by the Administrator in accordance with the terms of the Plan) circumstances that would have entitled the Company and its subsidiaries to terminate the Optionee’s Employment for Cause, the Stock Option (whether or not
vested) will immediately terminate and be forfeited upon such termination. 
 4. Competing Activity; Cause. 

 

	 	(a)	 The Administrator may cancel, rescind, terminate, withhold or otherwise limit or restrict the Stock Option at
any time if the Optionee is not in compliance with all applicable provisions of this Agreement and the Plan, or if the Optionee breaches any agreement with the Company or its subsidiaries with respect to
non-competition or non-solicitation or materially breaches any agreement with the Company or its subsidiaries with respect to confidentiality, or, if no such agreement
exists, the Optionee engages in Competitive Activity or Solicitation during the term of the Optionee’s Employment or during the 12-month period following cessation of the Optionee’s Employment or
engages in any material Unauthorized Disclosure during the term of the Optionee’s Employment or during the three-year period following cessation of the Optionee’s Employment, in each case, regardless of the reason for such cessation. For
the avoidance of doubt, (x) if the Optionee is subject to a non-competition, non-solicitation or confidentiality agreement with the Company or its subsidiaries, the
determination as to whether the Optionee has breached any obligation contained in such agreement shall be made in accordance with the terms of such agreement and (y) the only remedy available to the Company in the event that the Optionee
engages in the activities set forth in clause (ii) above, to the extent such provision is applicable to the Optionee, shall be the remedies set forth in subsection (b) below. 

 

	 	(b)	 The remedies available (i) for breach of the restrictive covenants described in subsection (a) above,
or (ii) if the Company determines that, at the time of termination of Employment, there exist circumstances that would have entitled the Company and its subsidiaries to terminate the Optionee’s Employment for Cause, in each case as they
relate to the Stock Option or 

  
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shares of Stock received upon exercise of the Stock Option, shall only include: (1) the rights and remedies of the Company set forth in Section 5 of the Management Stockholders
Agreement; (2) the forfeiture of the Stock Option for no consideration; and (3) in the event that, following the date that is six (6) months prior to the date on which the Optionee’s Employment with the Company or its
subsidiaries terminates for any reason, the Optionee sold any Shares acquired upon the exercise of all or any portion of the Stock Option (any such Shares sold following such date being, the “Sold Shares”), payment by the Optionee
to the Company of an amount equal to (i) the aggregate proceeds received by the Optionee in respect of such Sold Shares, less (ii) the aggregate exercise price paid (by any means permitted by Section 3(b) hereof) by the
Optionee to purchase the Sold Shares, less (iii) any required income, withholding and other taxes actually paid by the Optionee in connection with such exercise (or withheld from shares received upon exercise of the Stock Option or from
other amounts owed to the Optionee, in either case as contemplated by Section 8 below). 

 5. Share Restrictions,
Etc. Not later than upon the execution of this Agreement and effective as of the date hereof, the Optionee has executed and become a party to the Management Stockholders Agreement. The Optionee’s rights hereunder (including with respect to
shares received upon exercise) are subject to the additional restrictions and other provisions contained in the Management Stockholders Agreement. 

6. Legends, Etc. Shares issued upon exercise of the Stock Option or otherwise delivered in satisfaction of the Stock Option will bear
such legends as may be required or provided for under the terms of the Management Stockholders Agreement. 
 7. Transfer of Stock
Option. The Stock Option may not be transferred except as expressly permitted under Section 6(a)(3) of the Plan. 
 8.
Withholding. The exercise of the Stock Option will give rise to “wages” subject to withholding. The Optionee expressly acknowledges and agrees that the Optionee’s rights hereunder, including the right to be issued shares upon
exercise, are subject to the Optionee promptly paying to the Company in cash (or by such other means as may be acceptable to the Administrator in its discretion) all taxes required to be withheld. No shares will be transferred pursuant to the
exercise of this Stock Option unless and until the person exercising this Stock Option has remitted to the Company an amount in cash sufficient to satisfy any federal, state, or local requirements with respect to tax withholdings then due and has
committed (and by exercising the Stock Option the Option shall be deemed to have committed) to pay in cash all tax withholdings required at any later time in respect of the transfer of such shares, or has made other arrangements satisfactory to the
Administrator with respect to such taxes; provided that, except as provided for below, the Optionee may elect to have shares from the Stock Option held back by the Company having a fair market value equal to the applicable statutory minimum
tax withholding requirements in accordance with the Plan. The Optionee shall not have the right to elect to have shares so withheld to satisfy such tax obligations if the 

  
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Optionee’s Employment is terminated by the Company for Cause or if the Company determines that, at the time of termination of Employment, there exist circumstances that would have entitled
the Company and its subsidiaries to terminate the Optionee’s Employment for Cause. The Optionee authorizes the Company and its subsidiaries to withhold such amounts due hereunder from any payments otherwise owed to the Optionee, but nothing in
this sentence shall be construed as relieving the Optionee of any liability for satisfying his or her obligation under the preceding provisions of this Section 8. 

9. Effect on Employment. Neither the grant of the Stock Option, nor the issuance of shares upon exercise of the Stock Option, will give
the Optionee any right to be retained in the employ of the Company or any of its Affiliates, affect the right of the Company or any of its Affiliates to discharge or discipline such Optionee at any time, or affect any right of such Optionee to
terminate his or her Employment at any time. 
 10. Governing Law/Disputes. This Agreement and all claims or disputes arising out of
or based upon this Agreement or relating to the subject matter hereof will be governed by and construed in accordance with the domestic substantive laws of the State of Delaware without giving effect to any choice or conflict of laws provision or
rule that would cause the application of the domestic substantive laws of any other jurisdiction. The parties agree that any disputes related to this Agreement shall be resolved in the state or federal courts of Delaware, to whose exclusive
jurisdiction the Optionee expressly consents. 
 By acceptance of the Stock Option, the undersigned agrees hereby to become a party to, and
be bound by the terms of, the Management Stockholders Agreement and to be subject to the terms of the Plan. The Optionee further acknowledges and agrees that (i) the signature to this Agreement on behalf of the Company is an electronic
signature that will be treated as an original signature for all purposes hereunder and (ii) such electronic signature will be binding against the Company and will create a legally binding agreement when this Agreement is countersigned by the
Optionee. 
 [The remainder of this page is intentionally left blank] 

  
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 Executed as of the [●] day of [●], 2011. 

 

							
	Company:	 		 	CHINOS HOLDINGS, INC.
				
		 		 	By:	 	
                     

		 		 	Name:
		 	  	 	Title:
				
	Optionee:	 		 		 	
		 		 	  

		 		 	Name:	 	
			
		 		 	Address:

 [Signature Page to Non-Statutory Stock Option Agreement] 

 Schedule A 

Vesting Schedule 
 The
number of shares of Stock subject to the Tranche 1 Option is [●], and the number of shares of Stock subject to the Tranche 2 Option is [●]. 

All initially capitalized terms used in this Schedule A, unless separately defined herein, have the meanings set forth in Section 2 of
the Agreement. 
 Tranche 1 Option 
 The
Tranche 1 Option, unless earlier terminated or forfeited, shall become vested as to 20% of the total number of Shares subject to the Tranche 1 Option on each of the first, second, third, fourth and fifth anniversaries of the Date of Grant.
Notwithstanding the foregoing, Shares subject to the Tranche 1 Option shall not vest on any vesting date unless the Optionee has remained in continuous Employment from the Date of Grant until such vesting date. 

In the event of cessation of the Optionee’s Employment by the Company without Cause or by the Optionee for Good Reason occurring within
the two-year period following a Change of Control, either (x) to the extent outstanding immediately prior to such cessation of Employment, the Tranche 1 Option shall be treated for all purposes of this
Agreement as having vested in full immediately prior to such cessation of Employment, or (y) to the extent that the Tranche 1 Option shall have been terminated or exchanged for other current or deferred cash or property in connection with the
Change of Control in accordance with Section 7 of the Plan, such current or deferred cash or property shall be treated as having vested in full and no longer subject to any risk of forfeiture or repayment, as applicable, immediately prior to
such cessation of Employment. 
 Tranche 2 Option 

Unless earlier terminated or forfeited, the Tranche 2 Option will vest, if at all, in accordance with the following provisions: 

1. The Tranche 2 Option shall only become vested to the extent provided for in this paragraph 1. The first 50% of Shares subject to the Tranche
2 Option shall become vested upon the first Determination Date as of which the Investors shall have received Cash Proceeds equal to two (2) times the Investors Equity Investment, and the remaining Shares subject to the Tranche 2 Option (i.e.
the remaining 50%) shall become vested upon the first Determination Date as of which the Investors shall have received Cash Proceeds, together with Cash Proceeds taken into account in determining the vesting of the first 50% of the Shares subject to
the Tranche 2 Option, equal to three (3) times the Investors Equity Investment. No realization by the Investors of Cash Proceeds that on a cumulative basis amounts to less than two (2) times the Investors Equity Investment shall result in
any vesting of the Tranche 2 Option pursuant to this paragraph 1, but prior realizations shall be taken into account in determining whether and if so to what extent any later realization by the Investors of Cash Proceeds (occurring prior to the
forfeiture or 

 
termination of the Stock Option) results in vesting pursuant to the immediately preceding sentence. Notwithstanding the foregoing, Shares subject to the Tranche 2 Option shall not become vested
on any date unless the Optionee has remained in continuous Employment from the Date of Grant until such date. 
 2. All determinations
regarding the amount of Cash Proceeds received by the Investors and whether (or to what extent) the Stock Option has vested as a result thereof shall be made in good faith by the Board or by a committee designated by the Board, which determination
shall be final and binding. The Board shall be provided with all information reasonably requested by it from the Investors for purposes of making such determinations.EX-10.8(c)

 Exhibit 10.8(c) 

Annex B 
 Name of
Participant:
                                         
    
 CHINOS HOLDINGS, INC. 

AMENDED AND RESTATED 2011 EQUITY INCENTIVE PLAN 

RESTRICTED STOCK AWARD AGREEMENT (PERFORMANCE) 

THE SHARES SUBJECT TO THIS AWARD ARE SUBJECT TO RESTRICTIONS ON VOTING AND TRANSFER AND REQUIREMENTS OF SALE AND OTHER PROVISIONS AS SET
FORTH IN THE MANAGEMENT STOCKHOLDERS 
 AGREEMENT. 

CHINOS HOLDINGS, INC. STRONGLY ENCOURAGES YOU TO SEEK THE ADVICE OF YOUR OWN LEGAL AND FINANCIAL ADVISORS WITH RESPECT TO YOUR AWARD AND ITS
TAX CONSEQUENCES. 
 Agreement (the “Agreement”) made this [__] day of _______ (the “Grant Date”)
between Chinos Holdings, Inc. (the “Company”), and [__] (the “Participant”). 
 1. Restricted Stock
Award. The Company hereby grants to the Participant, pursuant to the Chinos Holdings, Inc. Amended and Restated 2011 Equity Incentive Plan (as amended from time to time in accordance with the provisions thereof and subject to the limitations on
amendment set forth therein, the “Plan”) and subject to its terms, a Restricted Stock Award (the “Award”) consisting of ______ shares of the Company’s Class A common stock (the “Shares”),
subject to the conditions and limitations set forth in this Agreement and in the Plan. Except as otherwise expressly provided herein, all terms used herein shall have the same meaning as in the Plan. 

2. Vesting. As used herein with respect to any Share, the term “vest” means the lapsing of the restrictions described herein
with respect to such Share, subject to the terms of the Plan. This Award shall become vested on each of the dates set forth below as to the number of Shares specified below in respect of such date, provided that the Participant has remained in
continuous Employment from the Date of Grant until such vesting date: 
 40% of the Shares on the second anniversary of the Grant Date 

20% of the Shares on the third anniversary of the Grant Date 

20% of the Shares on the fourth anniversary of the Grant Date; and 

20% of the Shares on the fifth anniversary of the Grant Date. 

 Notwithstanding the foregoing, this Award, if not earlier forfeited, shall become fully
vested immediately prior to the effective date of a Change of Control (as defined in the Management Stockholders Agreement), unless the Administrator provides for the cash-out or assumption of this Award (or
the substitution of another award) by the acquiring entity (if any) or an affiliate thereof. 
 If the Participant’s Employment ceases
for any reason, including death, the Shares, to the extent not already vested, will be automatically and immediately forfeited. 
 3.
Dividends, etc. The Participant shall be entitled to (i) receive any and all dividends or other distributions paid with respect to those Shares of which he or she is the record owner on the record date for such dividend or other
distribution, and (ii) vote any Shares of which he or she is the record owner on the record date for such vote; provided that any property (other than cash) distributed with respect to a Share (the “associated Share”) acquired
hereunder, including without limitation a distribution of Stock by reason of a stock dividend, stock split or otherwise, or a distribution of other securities with respect to an associated Share, shall be subject to the restrictions of this
Agreement in the same manner and for so long as the associated Share remains subject to such restrictions, and shall be promptly forfeited if and when the associated Share is so forfeited; and further provided that the Administrator may
require that any cash distribution with respect to the Shares be placed in escrow or otherwise made subject to such restrictions as the Administrator deems appropriate to carry out the intent of the Plan. References in this Agreement to the Shares
shall refer, mutatis mutandis, to any such restricted amounts. 
 4. Certain Tax Matters. 

(a) The Participant has been advised to confer promptly with a professional tax advisor to consider whether the Participant should make a so-called “83(b) election” with respect to the Shares. Any such election, to be effective, must be made in accordance with applicable regulations and within thirty (30) days following the date of this
Award. The Company has made no recommendation to the Participant with respect to the advisability of making such an election. 
 (b) The
Award or vesting of the Shares acquired hereunder, and the payment of dividends, if any, with respect to such Shares, may give rise to “wages” subject to withholding. The undersigned expressly acknowledges and agrees that his or her rights
hereunder are subject to his or her promptly paying to the Company in cash (or by such other means as may be acceptable to the Company in its discretion, including, if the Administrator so determines, by the delivery of previously acquired Stock or
shares of Stock acquired hereunder or by the withholding of amounts from any payment hereunder) all taxes required to be withheld in connection with such award, vesting or payment; provided that, except as provided for below, the Participant
may elect to have shares from the Award held back by the Company having a fair market value equal to the applicable statutory minimum tax withholdings requirements in accordance with the Plan. The Participant shall not have the right to elect to
have shares so withheld to satisfy such tax obligations if the Participant’s Employment is terminated by the Company or any of its subsidiaries for Cause or if the Company determines that, at the time of termination of Employment, there exist
circumstances that would have entitled the Company and 

  
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its subsidiaries to terminate the Participant’s Employment for Cause. The Participant authorizes the Company and its subsidiaries to withhold such amounts due hereunder from any payments
otherwise owed to the Participant, but nothing in this sentence shall be construed as relieving the Participant of any liability for satisfying his or her obligation under the preceding provisions of this Section 4(b). 

5. Nontransferability. Neither this Award nor any rights with respect thereto may be sold, assigned, transferred (other than by will or
the laws of descent and distribution), pledged or otherwise encumbered, except as the Administrator may otherwise determine. 
 6. Other
Agreements. The Participant acknowledges and agrees that the Shares delivered under this Award shall be subject to the Management Stockholders Agreement and the transfer and other restrictions, rights, and obligations set forth therein. The
acceptance of this Award shall constitute a joinder to the Management Stockholders Agreement, and the Participant agrees to execute such other documents in connection with such joinder as the Administrator shall determine are reasonably necessary or
appropriate. 
 7. Restricted Stock Award Subject to the Plan. By entering into this Agreement, the Participant agrees and
acknowledges that (i) the Participant has received and read a copy of the Plan as in effect on the date hereof, and (ii) the Award (including the Shares) is subject to the Plan, the terms and provisions of which are hereby incorporated
herein by reference. In the event of a conflict between any term or provision contained herein and a term or provision of the Plan, the provisions of the Plan shall prevail. 

8. Effect on Employment. Neither the grant of this Award, nor the delivery of Shares under this Award, shall give the Participant any
right to be retained in the employ of the Company or any of its Affiliates, affect the right of the Company or any of its Affiliates to discharge or discipline such Participant at any time, or affect any right of such Participant to terminate his or
her Employment at any time. 
 9. Legends; Retention of Certificates. Shares delivered under this Award shall bear such legends as may
be required or provided for under the terms of the Management Stockholders Agreement. Any certificates representing unvested Shares shall be held by the Company. In addition, any certificates representing unvested Shares shall contain a legend
substantially in the following form: 
 THE TRANSFERABILITY OF THIS CERTIFICATE AND THE SHARES OF STOCK REPRESENTED HEREBY ARE SUBJECT TO THE
TERMS AND CONDITIONS (INCLUDING FORFEITURE) OF THE CHINOS HOLDINGS, INC. 2011 EQUITY INCENTIVE PLAN, A RESTRICTED STOCK AWARD AGREEMENT A MANAGEMENT STOCKHOLDERS AGREEMENT ENTERED INTO BETWEEN THE REGISTERED OWNER AND CHINOS HOLDING, INC. COPIES OF
SUCH PLAN, AGREEMENT AND MANAGEMENT STOCKHOLDERS AGREEMENT ARE ON FILE IN THE OFFICES OF CHINOS HOLDING, INC. 

  
 3 

 As soon as practicable following the vesting of any such Shares the Company shall cause a
certificate or certificates with the appropriate legends to be issued and delivered to the Participant. Notwithstanding anything to the contrary herein, the Company may hold unvested Shares in book entry form and, if unvested Shares are so held, the
Participant agrees that the Company may give stop transfer instructions to the depository to ensure compliance with the provisions hereof. 

10. Confidential Information. The Participant agrees to hold in strict confidence any proprietary or Confidential Information (as
defined below) related to the Company or its Affiliates, except to the extent that such Confidential Information (i) becomes a matter of public record or is published in a newspaper, magazine or other periodical available to the general public,
other than as a result of the Participant’s act or omission (whether direct or indirect), or (ii) is required to be disclosed by any law, regulation or order of any court, other tribunal, regulatory commission or administrative agency,
provided that the Participant gives prompt notice of such requirement to the Company to enable to the Company to seek an appropriate protective order prior to such disclosure, or (iii) is required to be used or disclosed by the Participant to
perform properly his or her duties of Employment. “Confidential Information” means all information of the Company and its Affiliates in whatever form that is not generally known to the public, including, without limitation, customer lists,
trade practices, marketing techniques, fit specifications, design, pricing structures and practices, research, trade secrets, processes, systems, programs, methods, software, merchandising, distribution, planning, inventory and financial control,
store design and staffing. 
 11. Competing Activity; Cause. 

(a) The Administrator may cancel, rescind, terminate, withhold or otherwise limit or restrict the Award at any time if the Participant is not
in compliance with all applicable provisions of this Agreement and the Plan, or if the Participant breaches any agreement with the Company or its subsidiaries with respect to non-competition or non-solicitation or materially breaches any agreement with the Company or its subsidiaries with respect to confidentiality, or, if no such agreement exists, the Participant engages in Competitive Activity or
Solicitation (each as defined below) during the term of the Participant’s Employment or during the 12-month period following cessation of the Participant’s Employment or engages in any material
unauthorized disclosure of Confidential Information during the term of the Participant’s Employment or during the three-year period following cessation of the Participant’s Employment, in each case, regardless of the reason for such
cessation. For the avoidance of doubt, (x) if the Participant is subject to a non-competition, non-solicitation or confidentiality agreement with the Company or its
subsidiaries, the determination as to whether the Participant has breached any obligation contained in such agreement shall be made in accordance with the terms of such agreement and (y) the only remedy available to the Company in the event
that the Participant engages in the activities set forth in clause (ii) above, to the extent such provision is applicable to the Participant, shall be the remedies set forth in subsection (b) below. 

(b) The remedies available (i) for breach of the restrictive covenants described in subsection (a) above, or (ii) if the Company
determines that, at the time of termination of Employment, there exist circumstances that would have entitled the Company and its subsidiaries to terminate the Participant’s Employment for Cause, in each case as they relate to the Award or
Shares received upon vesting of the Award, shall only include: (1) the rights and remedies of the Company set forth in Section 5 of the Management Stockholders Agreement; (2) 

  
 4 

 
the forfeiture of the Award for no consideration; and (3) in the event that, following the date that is six (6) months prior to the date on which the Participant’s Employment with
the Company or its subsidiaries terminates for any reason, the Participant sold any Shares acquired through the vesting of all or any portion of the Award (any such Shares sold following such date being, the “Sold Shares”), payment
by the Participant to the Company of an amount equal to (i) the aggregate proceeds received by the Participant in respect of such Sold Shares, less (ii) any required income, withholding and other taxes actually paid by the
Participant upon vesting of the Award and/or sale of the Shares. 
 (c) “Competitive Activity” means engaging in, directly
or indirectly, alone or as principal, agent, employee, employer, consultant, investor, partner or manager, or providing advisory or other services to, or owning any stock or any other ownership interest in, or making any financial investment in, any
business (or entity) that engages in any business in which the Company or its Affiliates are engaged, or that provides any material products and/or services that the Company or its subsidiaries are actively developing or designing (provided that
where such Competitive Activity occurs following termination of Employment, the Competitive Activity occurs following termination of Employment, the Competitive Activity shall be determined as of the date of termination); provided, that the
foregoing shall not restrict the Participant from owning less than two percent (2%) of the outstanding securities of any class of securities listed on a national exchange or inter-dealer quotation system. 

(d) “Solicitation” means, directly or indirectly, (i) inducing, encouraging, causing or assisting another to induce,
encourage or cause any customers or suppliers of the Company or its Affiliates to terminate, diminish or otherwise adversely modify their relationship with the Company or any such Affiliate, (ii) soliciting, recruiting, hiring, or otherwise
encouraging the employment decisions of, any employee of the Company or its Affiliates (or any individual who had been an employee of the Company or its Affiliates in the one-year period prior to the
termination of the Participant’s employment) on behalf of any person or entity other than the Company or its Affiliates or (iii) soliciting, inducing, encouraging or causing any independent contractor providing services to the Company or
its Affiliates to terminate or diminish its relationship with them. 
 12. Securities Laws. The Participant understands that
(i) the Shares have not been registered under the Securities Act and are “restricted securities” within the meaning of Rule 144 under the Securities Act; (ii) the Shares cannot be sold, transferred or otherwise disposed of unless
they are subsequently registered under the Securities Act or an exemption from registration is then available; and (iii) there is now no registration statement on file with the Securities and Exchange Commission with respect to the Shares, and
there is no commitment on the part of the Company to make any such filing. 
 13. Amendments. No amendment of any provision of this
Agreement shall be valid unless the same shall be in writing and signed by both parties. 
 14. Waiver. No waiver of any right
hereunder by any party shall operate as a waiver of any other right, or as a waiver of the same right with respect to any subsequent occasion for its exercise, or as a waiver of any right to damages. No waiver by any party of any breach of this
Agreement shall be held to constitute a waiver of any other breach or a waiver of the continuation of the same breach. 

  
 5 

 15. Severability. The invalidity or unenforceability of any provision of this
Agreement shall not affect the validity or enforceability of any other provision of this Agreement, and each other provision of this Agreement shall be severable and enforceable to the extent permitted by law. 

16. Successors. The terms of this Agreement shall be binding upon and inure to the benefit of the Company, its successors arid assigns,
and of the Participant and the beneficiaries, executors, administrators, heirs and successors of the Participant. 
 17. Governing
Law/Disputes. This Agreement and all claims or disputes arising out of or based upon this Agreement or relating to the subject matter hereof will be governed by and construed in accordance with the domestic substantive laws of the State of
Delaware, without giving effect to any choice of law or conflict of law provision or rule (whether of the State of Delaware or any other jurisdiction) that would cause the application of the domestic substantive laws of any jurisdiction other than
the State of Delaware. The parties agree that any disputes related to this Agreement shall be resolved in the state or federal courts of Delaware, to whose exclusive jurisdiction the Participant expressly consents. 

By acceptance of this Award, the undersigned agrees hereby to become a party to, and be bound by the terms of, the Management Stockholders
Agreement and to be subject to the terms of the Plan. The Participant further acknowledges and agrees that (i) the signature to this Agreement on behalf of the Company is an electronic signature that will be treated as an original signature for
all purposes hereunder and (ii) such electronic signature will be binding against the Company and will create a legally binding agreement when this Agreement is countersigned by the Participant. 

[The remainder of this page is intentionally left blank] 

  
 6 

 The Company, by its duly authorized officer, and the Participant have executed this
Agreement as of the date first set forth above. 
  

			
	Chinos Holdings, Inc.
		
	By:	 	  

	Name:	 	  

	Title:	 	  

  

			
	Agreed and Accepted:
		
	By:	 	  

	Name:	 	

  
 [SIGNATURE PAGE TO
RESTRICTED STOCK AWARD AGREEMENT]

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