Joel Waller will receive an annual salary of $500,000 as the interim CEO of Christopher & Banks, according to documents filed with the Securities and Exchange Commission.
Waller, a former CEO of Wilsons Leather, will also receive about 50,000 shares in restricted stock.
Last year, Barenbaum hired Waller to a one year contract as president to help revive the struggling retailer, especially its merchandising efforts.
After Barenbaum's exit, Waller told the Star Tribune he had no interest in the CEO job on a permanent basis.
The latest SEC document states Waller's employment contract will still expire in December.