SEC Contract Filing

Filing Date: 2018-01-16

Document Content:
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<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>amended_employmentxagmtxex.htm
<DESCRIPTION>EXHIBIT 10.1
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<div><a name="s9B0DF6880CC5B7861716FADE2DFB2424"></a></div><div></div><div><br></div><div style="line-height:120%;padding-bottom:8px;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Exhibit 10.1</font></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">AMENDED EMPLOYMENT AGREEMENT <br>BETWEEN <br>CHRISTOPHER &amp; BANKS CORPORATION <br>AND <br>JOEL N. WALLER</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">THIS AMENDED EMPLOYMENT AGREEMENT</font><font style="font-family:inherit;font-size:12pt;">&#32;(this &#8220;Agreement&#8221;) is made effective as of January 15, 2018 (the &#8220;Effective Date&#8221;), by and between Christopher &amp; Banks Corporation, a corporation duly organized and existing under the laws of the State of Delaware (the &#8220;Corporation&#8221;), and Joel&#160;N.&#160;Waller (&#8220;Executive&#8221;) and amends and restates in its entirety the employment agreement entered into effective January 17, 2017 between the Corporation and Executive.</font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">RECITALS</font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">WHEREAS</font><font style="font-family:inherit;font-size:12pt;">, effective as of January 17, 2017, the Corporation and Executive entered into an employment agreement with respect to the employment of Executive as the Corporation&#8217;s interim Chief Executive Officer and President; and</font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">WHEREAS</font><font style="font-family:inherit;font-size:12pt;">, the Corporation and Executive desire to amend the original agreement in its entirety with this Agreement.</font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">AGREEMENT</font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">NOW, THEREFORE, </font><font style="font-family:inherit;font-size:12pt;">in consideration of the foregoing recitals, the mutual covenants set forth below and other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged by both parties, the Corporation and Executive agree as follows:</font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;"><br>ARTICLE 1</font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">EMPLOYMENT</font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;padding-bottom:8px;text-align:left;padding-left:6px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">1.1</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">Commencing as of January 17, 2017, the Corporation has employed Executive, and Executive has agreed to be employed by the Corporation, as its interim President and Chief Executive Officer (collectively, &#8220;CEO&#8221;). The parties hereto initially agreed that Executive&#8217;s term in such roles would end on the earlier of January 17, 2018 or the date on which a permanent CEO commences employment. For good and valuable consideration, as described below, the parties have agreed that Executive will continue to perform those roles until the earlier to occur of: (i) the date his successor so commences employment, and (ii) January 17, 2019; at which point his employment as interim CEO shall terminate.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:6px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">1.2</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">Executive agrees to perform such duties as are customarily incident to the position of CEO and such other duties which may be assigned to Executive from time to time by the Board of Directors of the Corporation (the &#8220;Board&#8221;).</font></div><div><br></div><div><div style="line-height:120%;font-size:12pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0"