Document:

EX-10.1

 Exhibit 10.1 

EMPLOYMENT AGREEMENT 

This EMPLOYMENT AGREEMENT (this “Agreement”), dated April 25, 2014 and effective as of the Commencement Date (as defined
in Section 1.2), is by and between REGADO BIOSCIENCES, INC., a Delaware corporation (the “Company”) and R. DON ELSEY (the “Executive”). 

W I T N E S S E T H: 

WHEREAS, the Company desires to employ the Executive as its Senior Vice-President, and Chief Financial Officer and the Executive
desires to accept such employment, on the terms and conditions set forth in this Agreement; and 
 NOW, THEREFORE, in consideration
of the promises and the mutual covenants and agreements contained herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound hereby, agree as
follows: 
 ARTICLE 1  

EMPLOYMENT; TERM OF AGREEMENT 

Section 1.1. Employment and Acceptance. During the Term (as defined in Section 1.2), the Company shall employ the
Executive, and the Executive shall accept such employment and continue to serve the Company, in each case, subject to the terms and conditions of this Agreement. 

Section 1.2. Term. The employment relationship hereunder shall be for the period (such period of the employment relationship shall
be referred to herein as the “Term”) commencing on May 5, 2014 (the “Commencement Date”) and ending upon the termination of this Agreement and the Executive’s employment hereunder by either party hereto
pursuant to the terms of Section 4.1, Section 4.2, Section 4.3 or Section 4.4. In the event that the Executive’s employment with the Company terminates, the Company’s obligation to continue
to pay, after the Termination Date (as defined in Section 4.2(b)), Base Salary (as defined in Section 3.1(a)), Annual Bonus (as defined in Section 3.1(b)) and other unaccrued benefits shall terminate, except as
may be provided for in ARTICLE 4. 
 ARTICLE 2 

TITLE; DUTIES AND OBLIGATIONS; LOCATION 

Section 2.1. Title. The Company shall employ the Executive to render exclusive and full-time services to the Company. The
Executive shall serve in the capacity of Senior Vice-President and Chief Financial Officer. 
 Section 2.2. Duties. The
Executive shall report to the Company’s Chief Executive Officer (the “CEO”) and be subject to the lawful direction of the Company’s Board of Directors (the “Board”) and/or the CEO. The Executive agrees to
perform to the best of his ability, experience and talent those acts and duties, consistent with the position of Senior Vice-President and Chief Financial Officer, as the Board and/or the CEO shall from time to time direct. During

 
the Term, the Executive also shall serve in such other executive-level positions or capacities as may, from time to time, be reasonably requested by the Board and/or the CEO, including, without
limitation (subject to election, appointment, re-election or re-appointment, as applicable) as (a) a member of the Board and/or as a member of the board of directors or similar governing body of any of the Company’s subsidiaries or other
Affiliates (as defined below), (b) an officer of any of the Company’s subsidiaries or other Affiliates, and/or (c) a member of any committee of the Company and/or any of its subsidiaries or other Affiliates, in each case, for no
additional compensation. As used in this Agreement, “Affiliate” of any individual or entity means any other individual or entity that directly or indirectly controls, is controlled by, or is under common control with, the individual
or entity. 
 Section 2.3. Compliance with Policies, etc. During the Term, the Executive shall be bound by, and comply fully
with, all of the Company’s policies and procedures for employees and officers in place from time to time, including, but not limited to, all terms and conditions set forth in the Company’s employee handbook, compliance manual, codes of
conduct and any other memoranda and communications applicable to the Executive pertaining to the policies, procedures, rules and regulations, as currently in effect and as may be amended from time to time. These policies and procedures include,
among other things and without limitation, the Executive’s obligations to comply with the Company’s rules regarding confidential and proprietary information and trade secrets. 

Section 2.4. Time Commitment. During the Term, the Executive shall use his best efforts to promote the interests of the Company
(including its subsidiaries and other Affiliates) and shall devote all of his business time, ability and attention to the performance of his duties for the Company and shall not, directly or indirectly, render any services to any other person or
organization, whether for compensation or otherwise, except with the CEO’s prior written consent, provided that the foregoing shall not prevent the Executive from (i) participating in charitable, civic, educational, professional, community
or industry affairs, (ii) managing the Executive’s passive personal investments, or (iii) continuing to serve on the boards of directors (or similar governing bodies) and/or advisory boards of RegeneRx Biopharmaceuticals and cancer
Support Community on which the Executive served prior to his commencement of employment with the Company, so long as, in each case, the number of such boards is limited to no more than two and such activities individually or in the aggregate do not
materially interfere or conflict with the Executive’s duties hereunder or create a potential business or fiduciary conflict (in each case, as determined by the Board) and as approved by the CEO. 

Section 2.5. Location. The Executive’s principal place of business for the performance of his duties under this Agreement
shall be at the principal executive office of the Company (currently located in Basking Ridge, New Jersey). Notwithstanding, the foregoing, the Executive shall be required to travel as necessary to perform his duties hereunder. 

  
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 ARTICLE 3  

COMPENSATION AND BENEFITS; EXPENSES 

Section 3.1. Compensation and Benefits. For all services rendered by the Executive in any capacity during the Term (including,
without limitation, serving as an officer, director or member of any committee of the Company or any of its subsidiaries or other Affiliates), the Executive shall be compensated as follows (subject, in each case, to the provisions of ARTICLE
4 below): 
 (a) Base Salary. During the Term, the Company shall pay the Executive a base salary (the “Base Salary”) at
the annualized rate of $350,000, which shall be subject to customary withholdings and authorized deductions and be payable in equal installments in accordance with the Company’s customary payroll practices in place from time to time. The
Executive’s Base salary shall be subject to periodic adjustments as the Board and/or the Compensation Committee of the Board (the “Compensation Committee”) shall in its/their discretion deem appropriate. As used in this
Agreement, the term “Base Salary” shall refer to Base Salary as may be adjusted from time to time. 
 (b) Annual
Bonus. For each calendar year ending during the Term (beginning with the calendar year ending December 31, 2014), the Executive shall be eligible to receive an annual bonus (the “Annual Bonus”) with a target amount equal to
thirty-five percent (35%) of the Base Salary earned by the Executive for such calendar year (the “Target Annual Bonus”). The Annual Bonus will be prorated for the current year (2014) according to the number of months
remaining in the year, following the Commencement Date, and based on the Executive’s length of employment during such year. The actual amount of each Annual Bonus will be based upon the level of achievement of the Company’s corporate
objectives and the Executive’s individual objectives, in each case, as established by the Board or the Compensation Committee (taking into account the input of the CEO with respect to the establishment of the Executive’s individual
objectives) for the calendar year with respect to which such Annual Bonus relates. The determination of the level of achievement of the corporate objectives and the Executive’s individual performance objectives for a year shall be made by the
Board or the Compensation Committee (taking into account the input of the CEO with respect to the level of achievement of the Executive’s individual objectives), in its reasonable discretion. Each Annual Bonus for a calendar year, to the extent
earned, will be paid in a lump sum in the following calendar year, within the first 75 days of such following year. The Annual Bonus shall not be deemed earned until the date that it is paid. Accordingly, in order for the Executive to receive an
Annual Bonus, the Executive must be actively employed by the Company at the time of such payment. No partial or prorated bonuses will be provided (other than for 2014, if at all, as stated above). 

(c) Equity Compensation. 

(i) Initial Option Grant. Subject to formal approval by the Compensation Committee of the Board, at the next meeting of the
Compensation Committee held on or following the Commencement Date, the Executive will be granted options (the “Initial Option Grant”) to purchase up to 250,000 shares of the Company’s common stock (at a per share exercise price
equal to fair market value per share of the Company’s common stock as of the date of grant in accordance with the terms of the 2013 Plan (as defined below)). The Initial Option Grant shall be subject to the terms and conditions established
within the Company’s 2013 Equity Compensation Plan (as the same may be amended from time to time) or any successor equity compensation plan as may be in place from time to time (the “2013 Plan”) and separate stock option
agreement between the Company and the Executive (the “Initial Stock Option Agreement”). The Initial Stock Option Agreement will provide that, among other things: (A) 62,500 of such shares shall be fully vested as of the date of
the Initial Option Grant, and (B) the 

  
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remaining shares shall vest ratably in equal monthly installments over a three (3) year period, commencing with the one (1) month anniversary of the Commencement Date and continuing on
the same day of each calendar month thereafter through and including the thirty-six (36) month anniversary of the Commencement Date, in each case, subject to the Executive’s continued employment with the Company on the applicable vesting
date. 
 (ii) The Executive also shall be eligible to receive from time to time additional Stock Options, Stock Units, Performance Shares,
Performance Units, Incentive Bonus Awards, Other Cash-Based Awards and/or Other Stock-Based Awards (as such capitalized terms are defined in the 2013 Plan), in amounts, if any, to be approved by the Board or the Compensation Committee in its
discretion. 
 (d) Benefit Plans. The Executive shall be entitled to participate in all employee benefit plans and programs
(excluding severance plans, if any) generally made available by the Company to senior executives of the Company, to the extent permissible under the general terms and provisions of such plans or programs and in accordance with the provisions
thereof. The Company may amend, modify or rescind any employee benefit plan or program and/or change employee contribution amounts to benefit costs without notice in its discretion. 

(e) Paid Vacation. The Executive shall be entitled to paid vacation days in accordance with the Company’s vacation policies in
effect from time to time for its executive team; provided, however, that Executive shall be entitled to no less than twenty (20) paid vacation days per calendar year during the Term. 

Section 3.2. Expense Reimbursement. The Company shall reimburse the Executive during the Term, in accordance with the
Company’s expense reimbursement policies in place from time, for all reasonable out-of-pocket business expenses incurred by the Executive in the performance of his duties hereunder. Further, but without duplication, the Company will reimburse
the Executive for (a) the reasonable expenses the Executive incurs for travel between his home in 2425 Pebblebrook Ct, Davidsonville, Maryland 21035 and the Company’s office in Basking Ridge, New Jersey and (b) the reasonable expenses
the Executive incurs in connection with his lodging in the Basking Ridge, New Jersey area (but, in each case, specifically excluding any personal travel or lodging expense); provided, however, in no event shall the reimbursement amount for such
travel and lodging expenses exceed $25,000 per year. In order to receive reimbursement under this Section, the Executive shall furnish to the Company documentary evidence of each such expense in the form required to comply with the Company’s
policies in place from time to time. 
 ARTICLE 4 

TERMINATION OF EMPLOYMENT 

Section 4.1. Termination Without Cause. 

(a) The Company may terminate the Executive’s employment hereunder at any time without Cause (other than by reason of death or
Disability) upon written notice to the Executive. 

  
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 (b) As used in this Agreement, “Cause” means: (i) a material act, or act of
fraud, committed by the Executive that results in a material injury (whether financial or otherwise) to the business or reputation of the Company or any of its Affiliates; (ii) the Executive’s commission of a felony or any misdemeanor
involving moral turpitude, deceit, dishonesty or fraud (including entry of a nolo contendere plea); (iii) gross negligence or willful misconduct by the Executive, or failure by the Executive to perform the duties or obligations reasonably
assigned to the Executive by the Board or the CEO from time to time, which is not cured upon ten (10) days prior written notice (unless such negligence, misconduct or failure is not susceptible to cure, as determined in the reasonable
discretion of the Board); (iv) the Executive’s breach of this Agreement, the Covenants Agreement (as defined in Section 5.1 below) or any Company policy, which is not cured upon ten (10) days prior written notice (unless
such breach is not susceptible to cure, as determined in the reasonable discretion of the Board); or (v) the Executive’s misappropriation or embezzlement of the property of the Company or its Affiliates (whether or not a misdemeanor or
felony). 
 (c) If the Executive’s employment is terminated pursuant to Section 4.1(a), the Executive shall, in full
discharge of all of the Company’s obligations to the Executive, be entitled to receive, and the Company’s sole obligation to the Executive under this Agreement or otherwise shall be to pay or provide to the Executive, the following: 

(i) the Accrued Obligations (as defined in Section 4.2(b)); and 

(ii) subject to Section 4.5 and Section 4.6: 

(A) payments equal to the sum of twelve (12) months of the Executive’s Base Salary (at the rate in effect immediately
prior to the Termination Date) and the Executive’s Target Bonus for the calendar year in which the Termination Date occurs (in each case, less applicable withholdings and authorized deductions), to be paid semi-monthly in accordance with the
Company’s customary payroll practices, commencing sixty (60) days following such termination of employment (the “Severance Payments”); and 

(B) if the Executive then participates in the Company’s medical and/or dental plans and the Executive timely elects to
continue and maintain group health plan coverage pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”), the Company will pay monthly, on the Executive’s behalf, a portion of the cost of
such coverage for the twelve (12) months after the Termination Date, which payments will be equal to the amount of the monthly premium for such coverage, less the amount that the Executive would have been required to pay if the Executive had
remained an active employee of the Company (the “COBRA Assistance”); provided, however, that if and to the extent that the Company may not provide such COBRA Assistance without incurring tax penalties or violating any
requirement of the law, the Company shall use its commercially reasonable best efforts to provide substantially similar assistance in an alternative manner provided that the cost of doing so does not exceed the cost that the Company would have
incurred had the COBRA Assistance been provided in the manner described above or cause a violation of Section 409A (as defined in Section 5.16). 

  
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 Section 4.2. Termination for Cause; Voluntary Termination. 

(a) The Company may terminate the Executive’s employment hereunder at any time for Cause upon written notice to the Executive. The
Executive may voluntarily terminate his employment hereunder at any time for any reason or no reason upon ninety (90) days prior written notice to the Company; provided, however, the Company reserves the right, upon written notice
to the Executive, to accept the Executive’s notice of resignation and to accelerate such notice and make the Executive’s resignation effective immediately, or on such other date prior to Executive’s intended last day of work as the
Company deems appropriate. It is understood and agreed that the Company’s election to accelerate Executive’s notice of resignation shall not be deemed a termination by the Company without Cause for purposes of Section 4.1 of
this Agreement or otherwise or constitute Good Reason (as defined in Section 4.3) for purposes of Section 4.3 of this Agreement or otherwise. 

(b) If the Executive’s employment is terminated pursuant to Section 4.2(a), the Executive shall, in full discharge of all of
the Company’s obligations to the Executive, be entitled to receive, and the Company’s sole obligation under this Agreement or otherwise shall be to pay or provide to the Executive, the following (collectively, the “Accrued
Obligations”): 
 (i) the Executive’s earned, but unpaid, Base Salary through the final date of the
Executive’s employment by the Company (the “Termination Date”), payable in accordance with the Company’s standard payroll practices; 

(ii) the Executive’s accrued, but unused, vacation (in accordance with the Company’s policies); 

(iii) expenses reimbursable under Section 3.2 above incurred on or prior to the Termination Date, but not yet
reimbursed; and 
 (iv) any amounts or benefits that are vested amounts or vested benefits or that the Executive is otherwise
entitled to receive under any plan, program, policy or practice (with the exception of those, if any, relating to severance) on the Termination Date, in accordance with such plan, program, policy, or practice. 

Section 4.3. Termination for Good Reason within 12 Months following a Change in Control. 

(a) Notwithstanding the provisions of Section 4.2, if the Executive resigns for Good Reason within twelve (12) months
following a Change in Control of the Company, the provisions of this Section 4.3 shall control. 
 (b) As used in this
Agreement, “Change in Control” means (x) a change in ownership of the Company under clause (i) below or (y) a change in the ownership of a substantial portion of the assets of the Company under clause (ii) below:

 (i) Change in the Ownership of the Company. A change in the ownership of the Company shall occur on the date that
any one person, or more than one person acting as a group (as defined in clause (iii) below), acquires 

  
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ownership of capital stock of the Company that, together with capital stock held by such person or group, constitutes more than 50 percent of the total fair market value or total voting power of
the capital stock of the Company. However, if any one person or more than one person acting as a group, is considered to own more than 50 percent of the total fair market value or total voting power of the capital stock of the Company, the
acquisition of additional capital stock by the same person or persons shall not be considered to be a change in the ownership of the Company. An increase in the percentage of capital stock owned by any one person, or persons acting as a group, as a
result of a transaction in which the Company acquires capital stock in the Company in exchange for property will be treated as an acquisition of stock for purposes of this paragraph. 

(ii) Change in the Ownership of a Substantial Portion of the Company’s Assets. A change in the ownership of a
substantial portion of the Company’s assets shall occur on the date that any one person, or more than one person acting as a group (as defined in clause (iii) below), acquires (or has acquired during the 12-month period ending on the date
of the most recent acquisition by such person or persons) assets from the Company that have a total gross fair market value equal to or more than 80 percent of the total gross fair market value of all of the assets of the Company immediately prior
to such acquisition or acquisitions. For this purpose, gross fair market value means the value of the assets of the Company, or the value of the assets being disposed of, determined without regard to any liabilities associated with such assets.
There is no Change in Control under this clause (ii) when there is a transfer to an entity that is controlled by the shareholders of the Company immediately after the transfer, as provided below in this clause (ii). A transfer of assets by the
Company is not treated as a change in the ownership of such assets if the assets are transferred to (a) a shareholder of the Company (immediately before the asset transfer) in exchange for or with respect to its capital stock, (b) an
entity, 50 percent or more of the total value or voting power of which is owned, directly or indirectly, by the Company, (c) a person, or more than one person acting as a group, that owns, directly or indirectly, 50 percent or more of the total
value or voting power of all the outstanding capital stock of the Company, or (d) an entity, at least 50 percent of the total value or voting power of which is owned, directly or indirectly, by a person described in clause (ii)(c) of this
paragraph. For purposes of this clause (ii), a person’s status is determined immediately after the transfer of the assets. 

(iii) Persons Acting as a Group. For purposes of clauses (i) and (ii) above, persons will not be considered to
be acting as a group solely because they purchase or own capital stock or purchase assets of the Company at the same time. However, persons will be considered to be acting as a group if they are owners of a corporation that enters into a merger,
consolidation, purchase or acquisition of assets or capital stock, or similar business transaction with the Company. If a person, including an entity, owns stock in both corporations that enter into a merger, consolidation, purchase or acquisition
of assets or capital stock, or similar transaction, such shareholder is considered to be acting as a 

  
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group with other shareholders in a corporation only with respect to the ownership in that corporation before the transaction giving rise to the change and not with respect to the ownership
interest in the other corporation. For purposes of this paragraph, the term “corporation” shall have the meaning assigned such term under Treasury Regulation section 1.280G-1, Q&A-45. 

(iv) Each of clauses (i) through (iii) above shall be construed and interpreted consistent with the requirements of
Section 409A and any Treasury Regulations or other guidance issued thereunder. 
 (c) As used in this Agreement, “Good
Reason” means the occurrence of any of the following: (1) a material breach by the Company of the terms of this Agreement; (2) a material reduction in the Executive’s Base Salary; (3) a material diminution in the
Executive’s authority, duties or responsibilities; or (4) a relocation by the Company of the Executive’s principal place of business for the performance of his duties under this Agreement to a location that is anywhere outside of a 50
mile radius of Basking Ridge, New Jersey; provided, however, that the Executive must notify the Company within ninety (90) days of the occurrence of any of the foregoing conditions that he considers it to be a “Good
Reason” condition and provide the Company with at least thirty (30) days in which to cure the condition. If the Executive fails to provide this notice and cure period prior to his resignation, or resigns more than six (6) months after
the initial existence of the condition, his resignation will not be deemed to be for “Good Reason.” 
 (d) If the
Executive’s employment terminates pursuant to Section 4.3(a) (i.e., the Executive resigns for Good Reason within twelve (12) months following a Change in Control of the Company), the Executive shall, in full discharge of
all of the Company’s obligations to the Executive, be entitled to receive, and the Company’s sole obligation to the Executive under this Agreement or otherwise shall be to pay or provide to the Executive, the following: 

(i) the Accrued Obligations; and 

(ii) subject to Section 4.5 and Section 4.6: 

(a) the Severance Payments, payable in accordance with the terms of Section 4.1(c)(ii)(A); and 

(b) if the Executive then participates in the Company’s medical and/or dental plans and the Executive timely elects to continue and
maintain group health plan coverage pursuant to COBRA, the Company will provide the COBRA Assistance, which COBRA Assistance will be payable in accordance with, and subject to the terms set forth in, Section 4.1(c)(ii)(B). 

Section 4.4. Termination Resulting from Death or Disability. 

(a) As the result of any Disability suffered by the Executive, the Company may, upon five (5) days prior notice to the Executive,
terminate the Executive’s employment under this Agreement. The Executive’s employment shall automatically terminate upon his death. 

  
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 (b) “Disability” means a determination by the Company in accordance with
applicable law that as a result of a physical or mental injury or illness, the Executive is unable to perform the essential functions of his job with or without reasonable accommodation for a period of (i) ninety (90) consecutive days; or
(ii) one hundred twenty (120) days during any twelve (12) month period. 
 (c) If the Executive’s employment is
terminated pursuant to Section 4.4(a), the Executive or the Executive’s estate, as the case may be, shall be entitled to receive, and the Company’s sole obligation under this Agreement or otherwise shall be to pay or provide to
the Executive or the Executive’s estate, as the case may be, the Accrued Obligations. 
 Section 4.5. Release Agreement. In
order to receive the Severance Payments or the COBRA Assistance set forth in Section 4.1 or Section 4.3 (in each case, if eligible), the Executive must timely execute (and not revoke) a separation agreement and general
release (the “Release Agreement”) in a customary form as is determined to be reasonably necessary by the Company in its good faith and reasonable discretion. If the Executive is eligible for Severance Payments and COBRA Assistance
pursuant to Section 4.1 or Section 4.3, the Company will deliver the Release Agreement to the Executive within seven (7) calendar days following the Termination Date. The Severance Payments and COBRA Assistance are
subject to the Executive’s execution of such Release Agreement within 45 days of the Executive’s receipt of the Release Agreement and the Executive’s non-revocation of such Release Agreement. 

Section 4.6. Post-Termination Breach. Notwithstanding anything to the contrary contained in this Agreement, the Company’s
obligations to provide the Severance Payments and the COBRA Assistance will immediately cease if the Executive breaches any of the provisions of the Covenants Agreement, the Release Agreement or any other agreement the Executive has with the
Company, or if any provision of those agreements is determined to be unenforceable, to any extent, by a court or arbitration panel, whether by preliminary or final adjudication. 

Section 4.7. Removal from any Boards and Position. If the Executive’s employment is terminated for any reason under this
Agreement, he shall be deemed (without further action, deed or notice) to resign (i) if a member, from the Board or board of directors (or similar governing body) of any Affiliate of the Company or any other board to which he has been appointed
or nominated by or on behalf of the Company and (ii) from all other positions with the Company or any subsidiary or other Affiliate of the Company, including, but not limited to, as an officer of the Company and any of its subsidiaries or other
Affiliates. 
 Section 4.8. Equity Vesting Acceleration. In the event that, within twelve (12) months following a Change in
Control of the Company, the Company terminates the Executive’s employment hereunder without Cause (other than by reason of death or Disability) or the Executive resigns for Good Reason, all stock options and other awards that the Executive may
have under the 2013 Plan (including the Time-Based Interests and the Performance-Based Interests of the Initial Option Grant) shall vest and, in the case of stock options or like awards, become exercisable, to the extent not already vested and (if
applicable) exercisable, on the Termination Date. 

  
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 ARTICLE 5 

GENERAL PROVISIONS 

Section 5.1. Company Proprietary Information, Inventions, and Noncompetition Agreement. The Executive agrees to execute and be
bound by the Proprietary Information, Inventions, and Noncompetition Agreement (“Covenants Agreement”) attached hereto as Schedule A, the terms of which are incorporated herein by reference. The Covenants Agreement shall
survive the termination of this Agreement and the Executive’s employment by the Company for the applicable period(s) set forth therein. 

Section 5.2. Expenses. Each of the Company and the Executive shall bear its/his own costs, fees and expenses in connection with
the negotiation, preparation and execution of this Agreement. 
 Section 5.3. Entire Agreement. This Agreement and the Covenants
Agreement contain the entire agreement of the parties hereto with respect to the terms and conditions of the Executive’s employment during the Term and activities following termination of this Agreement and the Executive’s employment with
the Company and supersede any and all prior agreements and understandings, whether written or oral, between the parties hereto with respect to the subject matter of this Agreement and the Covenants Agreement. Each party hereto acknowledges that no
representations, inducements, promises or agreements, whether oral or in writing, have been made by any party, or on behalf of any party, which are not embodied herein or in the Covenants Agreement. No agreement, promise or statement not contained
in this Agreement or the Covenants Agreement shall be valid and binding, unless agreed to in writing and signed by the parties sought to be bound thereby. 

Section 5.4. No Other Contracts. The Executive represents and warrants to the Company that neither the execution and delivery of
this Agreement by the Executive nor the performance by the Executive of the Executive’s obligations hereunder, shall constitute a default under or a breach of the terms of any other agreement, contract or other arrangement, whether written or
oral, to which the Executive is a party or by which the Executive is bound, nor shall the execution and delivery of this Agreement by the Executive nor the performance by the Executive of his duties and obligations hereunder give rise to any claim
or charge against either the Executive, the Company or any Affiliate, based upon any other contract or other arrangement, whether written or oral, to which the Executive is a party or by which the Executive is bound. The Executive further represents
and warrants to the Company that he is not a party to or subject to any restrictive covenants, legal restrictions or other agreement, contract or arrangement, whether written or oral, in favor of any entity or person which would in any way preclude,
inhibit, impair or limit the Executive’s ability to perform his obligations under this Agreement, including, but not limited to, non-competition agreements, non-solicitation agreements or confidentiality agreements. The Executive shall defend,
indemnify and hold the Company harmless from and against all claims, actions, losses, liabilities, damages, costs and expenses (including reasonable attorney’s fees and amounts paid in settlement in good faith) arising from or relating to any
breach of the representations and warranties made by the Executive in this Section 5.4. 

  
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 Section 5.5. Notices. Any notice or other communication required or permitted
hereunder shall be in writing and shall be delivered personally or sent by nationally recognized overnight courier service (with next business day delivery requested). Any such notice or communication shall be deemed given and effective, in the case
of personal delivery, upon receipt by the other party, and in the case of a courier service, upon the next business day, after dispatch of the notice or communication. Any such notice or communication shall be addressed as follows: 

 

			
	 If to the Company, to:
	  	
	
	             Regado Biosciences, Inc.

	             120 Mountain View Boulevard

	             Basking Ridge, NJ 07920

	             Attn: Board of Directors

		
	 With a copy to:
	  	
	
	             Cooley LLP

	             500 Boylston St.

	             Boston, MA 02116

	             Attn: Michael N. Sheetz, Esq.

		
	 If to the Executive, to:
	  	
	
	             R. Don Elsey

	             2 Carriage Court

	             Warren, New Jersey 07059

 Any person named above may designate another address or fax number by giving notice in accordance with this Section to the
other persons named above. 
 Section 5.6. Governing Law; Jurisdiction. This Agreement shall be governed by, and construed in
accordance with, the laws of the State of New Jersey, without regard to principles of conflicts of law. Any and all actions arising out of this Agreement or Employee’s employment by Company or termination therefrom shall be brought and heard in
the state and federal courts of the State of New Jersey and the parties hereto hereby irrevocably submit to the exclusive jurisdiction of any such courts. THE COMPANY AND THE EXECUTIVE HEREBY WAIVE THEIR RESPECTIVE RIGHT TO TRIAL BY JURY IN ANY
ACTION CONCERNING THIS AGREEMENT OR ANY AND ALL MATTERS ARISING DIRECTLY OR INDIRECTLY HEREFROM AND REPRESENT THAT THEY HAVE CONSULTED WITH COUNSEL OF THEIR CHOICE OR HAVE CHOSEN VOLUNTARILY NOT TO DO SO SPECIFICALLY WITH RESPECT TO THIS WAIVER.

 Section 5.7. Waiver. Either party hereto may waive compliance by the other party with any provision of this Agreement. The
failure of a party to insist on strict adherence to any term of this Agreement on any occasion shall not be considered a waiver or deprive that party of the right thereafter to insist upon strict adherence to that term or any other term of this
Agreement. No waiver of any provision shall be construed as a waiver of any other provision. Any waiver must be in writing. 

  
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 Section 5.8. Severability. If any one or more of the terms, provisions, covenants and
restrictions of this Agreement shall be determined by a court of competent jurisdiction to be invalid, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions of this Agreement shall remain in full force and effect
and shall in no way be affected, impaired or invalidated and the parties will attempt to agree upon a valid and enforceable provision which shall be a reasonable substitute for such invalid and unenforceable provision in light of the tenor of this
Agreement, and, upon so agreeing, shall incorporate such substitute provision in this Agreement. In addition, if any one or more of the provisions contained in this Agreement shall for any reason be determined by a court of competent jurisdiction to
be excessively broad as to duration, geographical scope, activity or subject, it shall be construed, by limiting or reducing it, so as to be enforceable to the extent compatible with then applicable law. 

Section 5.9. Counterparts. This Agreement may be executed in any number of counterparts and each such duplicate counterpart shall
constitute an original, any one of which may be introduced in evidence or used for any other purpose without the production of its duplicate counterpart. Moreover, notwithstanding that any of the parties did not execute the same counterpart, each
counterpart shall be deemed for all purposes to be an original, and all such counterparts shall constitute one and the same instrument, binding on all of the parties hereto. 

Section 5.10. Advice of Counsel. Both parties hereto acknowledge that they have had the opportunity to seek and obtain the advice
of counsel before entering into this Agreement and have done so to the extent desired, and have fully read the Agreement and understand the meaning and import of all the terms hereof. 

Section 5.11. Assignment. This Agreement shall inure to the benefit of the Company and its successors and assigns (including,
without limitation, the purchaser of all or substantially all of its assets) and shall be binding upon the Company and its successors and assigns. This Agreement is personal to the Executive, and the Executive shall not assign or delegate his rights
or duties under this Agreement, and any such assignment or delegation shall be null and void. 
 Section 5.12. Agreement to Take
Actions. Each party to this Agreement shall execute and deliver such documents, certificates, agreements and other instruments, and shall take all other actions, as may be reasonably necessary or desirable in order to perform his or its
obligations under this Agreement. 
 Section 5.13. No Attachment. Except as required by law, no right to receive payments under
this Agreement shall be subject to anticipation, commutation, alienation, sale, assignment, encumbrance, charge, pledge, or hypothecation or to execution, attachment, levy or similar process or assignment by operation of law, and any attempt,
voluntary or involuntary, to effect any such action shall be null, void and of no effect; provided, however, that nothing in this Section 5.13 shall preclude the assumption of such rights by executors, administrators or
other legal representatives of the Executive or the Executive’s estate and their assigning any rights hereunder to the person or persons entitled thereto. 

  
 -12- 

 Section 5.14. Source of Payment. Except as otherwise provided under the terms of any
applicable employee benefit plan, all payments provided for under this Agreement shall be paid in cash from the general funds of Company. The Company shall not be required to establish a special or separate fund or other segregation of assets to
assure such payments, and, if the Company shall make any investments to aid it in meeting its obligations hereunder, the Executive shall have no right, title or interest whatever in or to any such investments except as may otherwise be expressly
provided in a separate written instrument relating to such investments. Nothing contained in this Agreement, and no action taken pursuant to its provisions, shall create or be construed to create a trust of any kind, or a fiduciary relationship,
between Company and the Executive or any other person. To the extent that any person acquires a right to receive payments from Company hereunder, such right, without prejudice to rights which employees may have, shall be no greater than the right of
an unsecured creditor of Company. The Executive shall not look to the owners of the Company for the satisfaction of any obligations of the Company under this Agreement. 

Section 5.15. Tax Withholding. The Company or other payor is authorized to withhold from any benefit provided or payment due
hereunder, the amount of withholding taxes due any federal, state or local authority in respect of such benefit or payment and to take such other action as may be necessary in the opinion of the Board to satisfy all obligations for the payment of
such withholding taxes. The Executive will be solely responsible for all taxes assessed against him with respect to the compensation and benefits described in this Agreement, other than typical employer-paid taxes such as FICA, and the Company makes
no representations as to the tax treatment of such compensation and benefits. 
 Section 5.16. 409A Compliance. All payments
under this Agreement are intended to comply with or be exempt from the requirements of Section 409A of the Code and regulations promulgated thereunder (“Section 409A”). As used in this Agreement, the “Code”
means the Internal Revenue Code of 1986, as amended. To the extent permitted under applicable regulations and/or other guidance of general applicability issued pursuant to Section 409A, the Company reserves the right to modify this Agreement to
conform with any or all relevant provisions regarding compensation and/or benefits so that such compensation and benefits are exempt from the provisions of 409A and/or otherwise comply with such provisions so as to avoid the tax consequences set
forth in Section 409A and to assure that no payment or benefit shall be subject to an “additional tax” under Section 409A. To the extent that any provision in this Agreement is ambiguous as to its compliance with
Section 409A, or to the extent any provision in this Agreement must be modified to comply with Section 409A, such provision shall be read in such a manner so that no payment due to the Executive shall be subject to an “additional
tax” within the meaning of Section 409A(a)(1)(B) of the Code. If necessary to comply with the restriction in Section 409A(a)(2)(B) of the Code concerning payments to “specified employees,” any payment on account of the
Executive’s separation from service that would otherwise be due hereunder within six (6) months after such separation shall be delayed until the first business day of the seventh month following the Termination Date and the first such
payment shall include the cumulative amount of any payments (without interest) that would have been paid prior to such date if not for such restriction. Each payment in a series of payments hereunder shall be deemed to be a separate payment for
purposes of Section 409A. In no event may the Executive, directly or indirectly, designate the calendar year of payment. All reimbursements provided under this Agreement shall be made or provided in accordance with

  
 -13- 

 
the requirements of Section 409A, including, where applicable, the requirement that (i) any reimbursement is for expenses incurred during the Executive’s lifetime (or during a
shorter period of time specified in this Agreement), (ii) the amount of expenses eligible for reimbursement during a calendar year may not affect the expenses eligible for reimbursement in any other calendar year, (iii) the reimbursement
of an eligible expense will be made on or before the last day of the calendar year following the year in which the expense is incurred, and (iv) the right to reimbursement is not subject to liquidation or exchange for another benefit.
Notwithstanding anything contained herein to the contrary, the Executive shall not be considered to have terminated employment with the Company for purposes of Section 4.1 or 4.3 unless the Executive would be considered to have
incurred a “termination of employment” from the Company within the meaning of Treasury Regulation §1.409A-1(h)(1)(ii). In no event whatsoever shall the Company be liable for any additional tax, interest or penalty that may be imposed
on the Executive by Section 409A or damages for failing to comply with Section 409A. 
 Section 5.17. 280G Modified
Cutback. 
 (a) If any payment, benefit or distribution of any type to or for the benefit of the Executive, whether paid or payable,
provided or to be provided, or distributed or distributable pursuant to the terms of this Agreement or otherwise (collectively, the “Parachute Payments”) would (i) constitute a “parachute payment” within the meaning
of Section 280G of the Code, and (ii) subject the Executive to the excise tax imposed under Section 4999 of the Code (the “Excise Tax”), the Parachute Payments shall be reduced so that the maximum amount of the Parachute
Payments (after reduction) shall be one dollar ($1.00) less than the amount which would cause the Parachute Payments to be subject to the Excise Tax; provided that the Parachute Payments shall only be reduced to the extent the after-tax value of
amounts received by the Executive after application of the above reduction would exceed the after-tax value of the amounts received without application of such reduction. For this purpose, the after-tax value of an amount shall be determined taking
into account all federal, state, and local income, employment and excise taxes applicable to such amount. Unless the Executive shall have given prior written notice to the Company to effectuate a reduction in the Parachute Payments if such a
reduction is required, which notice shall be consistent with the requirements of Section 409A to avoid the imputation of any tax, penalty or interest thereunder, then the Company shall reduce or eliminate the Parachute Payments by first
reducing or eliminating any cash payments (with the payments to be made furthest in the future being reduced first), then by reducing or eliminating accelerated vesting of stock options or similar awards, and then by reducing or eliminating any
other remaining Parachute Payments; provided, that no such reduction or elimination shall apply to any non-qualified deferred compensation amounts (within the meaning of Section 409A) to the extent such reduction or elimination would accelerate
or defer the timing of such payment in manner that does not comply with Section 409A. 
 (b) An initial determination as to whether
(x) any of the Parachute Payments received by the Executive in connection with the occurrence of a change in the ownership or control of the Company or in the ownership of a substantial portion of the assets of the Company shall be subject to
the Excise Tax, and (y) the amount of any reduction, if any, that may be required pursuant to the previous paragraph, shall be made by an independent accounting firm selected by the Company (the “Accounting Firm”) prior to the
consummation of such change in the ownership or effective control of the Company or in the ownership of a substantial portion of the 

  
 -14- 

 
assets of the Company. The Company will bear all expenses with respect to the determinations by such Accounting Firm required to be made hereunder. The Executive shall be furnished with notice of
all determinations made as to the Excise Tax payable with respect to the Executive’s Parachute Payments, together with the related calculations of the Accounting Firm, promptly after such determinations and calculations have been received by
the Company. 
 (c) For purposes of this Section 5.17, (i) no portion of the Parachute Payments the receipt or enjoyment of
which the Executive shall have effectively waived in writing prior to the date of payment of the Parachute Payments shall be taken into account; (ii) no portion of the Parachute Payments shall be taken into account which in the opinion of the
Accounting Firm does not constitute a “parachute payment” within the meaning of Section 280G(b)(2) of the Code; (iii) the Parachute Payments shall be reduced only to the extent necessary so that the Parachute Payments (other than
those referred to in the immediately preceding clause (i) or (ii)) in their entirety constitute reasonable compensation for services actually rendered within the meaning of Section 280G(b)(4) of the Code or are otherwise not subject to
disallowance as deductions, in the opinion of the auditor or tax counsel referred to in such clause (ii); and (iv) the value of any non-cash benefit or any deferred payment or benefit included in the Parachute Payments shall be determined by
the Company’s independent auditors based on Sections 280G and 4999 of the Code and the regulations for applying those sections of the Code, or on substantial authority within the meaning of Section 6662 of the Code. 

[Signature Page Follows] 

  
 -15- 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year
first above written. 
  

			
	COMPANY
	
	Regado Biosciences, Inc.
		
	 By:
	 	 /s/ David J. Mazzo, Ph.D.

	Name: David J. Mazzo, Ph.D.
	Title:   Chief Executive Officer
	
	EXECUTIVE
	
	 /s/ R. Don Elsey

	R. Don Elsey

 [SIGNATURE PAGE TO EMPLOYMENT
AGREEMENT] 

 SCHEDULE A 

Proprietary Information, Inventions, and Noncompetition AgreementEmployment Agreement

 Exhibit 10.1 

GARY L. PIERCE 

AGREEMENT 
 WITH

 STEIN MART, INC. 

This Agreement (this “Agreement”) entered into in the City of Jacksonville and State of Florida between Stein Mart,
Inc., a Florida corporation and its divisions, subsidiaries and affiliates (the “Company”), and GARY L. PIERCE (“Executive”), is made as of May 1, 2014 (the “Effective
Date”). 
 In consideration of the promises and mutual covenants contained herein, the parties, intending to be legally bound,
agree as follows: 
  

	 	SECTION 1.	TERM OF EMPLOYMENT 

 (a) Term. The Company agrees to employ
Executive, and Executive agrees to be employed by the Company, for a period of two (2) year(s) beginning on the Effective Date (the “Term”). 
  

	 	SECTION 2.	DEFINITIONS 

 “Board of Directors” means the Board of Directors
of Stein Mart, Inc. and any of its divisions, affiliates or subsidiaries. 
 “Cause” means the occurrence of any one
or more of the following: 
 (a) Executive has been convicted of, or pleads guilty or nolo contendere to, a felony
involving dishonesty, theft, misappropriation, embezzlement, fraud crimes against property or person, or moral turpitude which negatively impacts the Company; or 

(b) Executive intentionally furnishes materially false, misleading, or omissive information concerning a substantial matter to
the Company or persons to whom the Executive reports; or 
 (c) Executive intentionally fails to fulfill any assigned
responsibilities for compliance with the Sarbanes-Oxley Act of 2002 or violates the same; or 

 (d) Executive intentionally and wrongfully damages material assets of the
Company; or 
 (e) Executive intentionally and wrongfully discloses material Confidential Information of the Employer; or

 (f) Executive intentionally and wrongfully engages in any competitive activity which would constitute a material breach of
the duty of loyalty; or 
 (g) Executive intentionally breaches any stated material employment policy or any material
provision of the Company’s Ethics Policy which could reasonably be expected to expose the Company to liability, or 

(h) Executive intentionally commits a material breach of this Agreement, or 

(i) Executive intentionally engages in acts or omissions which constitute failure to follow reasonable and lawful directives of
the Company, provided, however, that such acts or omissions are not cured within five (5) days following the Company’s giving notice to Executive that the Company considers such acts or omissions to be “Cause” under this
Agreement. 
 No act, or failure to act, on the part of Executive shall be deemed “intentional” if it was due primarily to an error in judgment or
negligence, but shall be deemed “intentional” only if done, or omitted to be done, by the Executive not in good faith and without reasonable belief that his action or omission was in or not opposed to the best interests of the Company.
Failure to meet performance standards or objectives shall not constitute Cause for purposes hereof. 
 “Change in
Control” means the occurrence of any of the following: (a) the Board approves the sale of all or substantially all of the assets of the Company in a single transaction or series of related transactions; (b) the Company sells
and/or one or more shareholders sells a sufficient amount of its capital stock (whether by tender offer, original issuance, or a single or series of related stock purchase and sale agreements and/or transactions) sufficient to confer on the
purchaser or purchasers thereof (whether individually or a group acting in concert) beneficial ownership of at least 35% of the combined voting power of the voting securities of the Company; (c) the Company is party to a merger, consolidation
or combination, other than any merger, consolidation or combination that would result in the holders of the voting securities of the Company outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by being
converted into voting securities of the surviving entity) more than 50% of the combined voting power of the voting securities of the Company (or such surviving entity) outstanding immediately after such merger, consolidation or combination; or
(d) a majority of the board of directors consists of individuals who are not Continuing Directors (for this purpose, a Continuing Director is an individual who (i) was a director of the Company on January 1, 2014 or (ii) whose
election or nomination 

  
 2 

 
as a director of the Company is approved by a vote of at least a majority of the directors then comprising the Continuing Directors). For purposes hereof, the definition of a Change of Control
shall be construed and interpreted so as to comply with the definition contained in Code Section 409A. 

“Code” means the Internal Revenue Code of 1986, as amended. Any reference to a specific provision of the Code shall be
deemed to refer to any successor provision thereto and the regulations promulgated thereunder. 
 “Commencement
Date” means February 2, 2010, the date the Executive shall report for work and assume Executive’s responsibilities hereunder. 

“Compensation Committee” means the Company’s Compensation Committee or, if no such committee exists, the term
Compensation Committee shall mean the Company’s Board of Directors. 
 “Continuation Period” means a period
following the Termination Date of the Executive’s employment with the company equal to: 
 (a) twelve (12) months
(i) following a termination by the Company due to a non-renewal of the Term of this Agreement under §5(a) hereof, or (ii) following a termination by the Company without Cause or by the Executive for Good Reason under §5(b)
hereof, or 
 (b) twenty-four (24) months following a termination (i) by the Company without Cause following a
Change in Control under §5(f)(i) hereof, or (ii) by the Executive for Good Reason following a Change in Control under §5(b) as the definition of Good Reason is expanded in §5(b)(i) hereof. 

The Continuation Period is zero months following (i) a termination by the Company for Cause, (ii) a termination by the Executive without Good
Reason, or (iii) a failure of the Executive to accept the Company’s offer of renewal of the Term of this Agreement under §5(a) hereof. 

“Current Insurance Coverage” means medical, dental, life and accident and disability insurance with coverage
consistent with the lesser of (i) the coverage in effect at Executive’s termination, or (ii) the coverage in effect from time to time as applied to persons in positions similar to the position held by Executive at the time of
termination. 
 “Disability” means Executive’s incapacity due to physical or mental illness or cause, which
results in the Executive being unable to perform his duties with Company on a full-time basis for a period of six (6) consecutive months. Any dispute as to disability shall be conclusively determined by written opinions rendered by two
qualified physicians, one selected by Executive, and one selected by Company; provided that if such opinions are conflicting, then such physicians shall select a mutually agreeable third physician whose opinion shall be conclusive and binding. 

  
 3 

 “Earned Bonus” means the bonus paid, if any, pursuant to the
Company’s incentive compensation plans in effect from time to time. Earned Bonus shall be prorated based on the ratio of the number of days during such year that Executive was employed to 365. 

“Good Reason” means the occurrence of any one or more of the following: 

 

	 	(i)	a material and continuing failure to pay to Executive compensation and benefits (as described in Section 4) that have been earned, if any, by Executive, except failure to pay or provide compensation or
benefits that are in dispute between the Company and the Executive unless such failure continues following the resolution of such dispute; or 

  

	 	(ii)	a material reduction in Executive’s compensation or benefits (as described in Section 4) which is materially more adverse to the Executive than similar reductions applicable to other executives of a
similar level of status within the Company as Executive; or 

  

	 	(iii)	any failure by the Company to comply with any of the material provisions of this Agreement and which is not remedied by the Company within thirty (30) days after receipt of notice thereof given by Executive; or

  

	 	(iv)	any requirement that Executive perform duties that, in the good faith and reasonable professional judgment of Executive, after consultation with the Board of Directors of the Company, are inconsistent with ethical or
lawful business practices; or 

  

	 	(v)	Executive’s being required to relocate to a principal place of employment more than one-hundred (100) miles from his current principal place of employment in Jacksonville, Florida during the Term unless the
Company shall pay all reasonable costs and expenses related thereto; or 

  
 4 

	 	(vi)	If following a Change in Control only, there occurs a material change in Executive’s duties, roles, or responsibilities. For purposes of this subsection, “material change” shall be of such a character
that a reasonable person serving in a like or similar executive capacity would feel compelled to resign from employment. Examples of “material change” include, but are not limited to substantial reduction of Executive’s authority to
make decisions relating to his or her business responsibilities; Executive being required to assume or perform substantially greater responsibilities (without additional compensation) than previously required to perform; substantial reduction of
Executive’s responsibilities for personnel matters relating to his or her business operations; substantial alteration or change in Executive’s work schedule; any restructuring or reassignment of any of the Executive’s
responsibilities, in a manner that diminishes them or is materially adverse to the Executive, from that which was in effect at the time of the Change in Control; and other substantial changes in Executive’s terms or conditions of employment not
related to Executive’s principal business responsibilities. Good Reason pursuant to this subsection shall not exist unless (a) the Executive’s “material change” has existed for a period of at least six months;
(b) Executive has consulted with management senior to Executive and his or her supervisor, in a good faith effort to resolve the issues giving Executive reason to believe a “material change” has occurred; and (c) Executive gives
written notice of Executive’s resignation for Good Reason under this paragraph within eight months following the commencement of the “material change”. 

“Termination Date” means the date of Executive’s termination of employment, or if the Executive continues to
provide services to Stein Mart, Inc. or its 409A affiliates following his termination of employment, such later date as is considered a separation from service from Stein Mart, Inc. and its 409A affiliates within the meaning of Code
Section 409A. For purposes of this Agreement, the Executive’s “termination of employment” shall be presumed to occur when Stein Mart, Inc. and the Executive reasonably anticipate that no further services will be performed by the
Executive for Stein Mart, Inc. and its 409A affiliates or that the level of bona fide services the Executive will perform as an employee of Stein Mart, Inc. and its 409A affiliates will permanently decrease to no more than 20% of the average level
of bona fide services performed by the Executive (whether as an employee or independent contractor) for Stein Mart, Inc. and its 409A affiliates over the immediately preceding 36-month period (or such lesser period of services). Whether the
Executive has experienced a termination of employment shall be determined by Stein Mart, Inc. in good faith and consistent with Section 409A of the Code. Notwithstanding the foregoing, if the Executive takes a leave of absence for purposes of
military leave, sick leave or other bona fide reason, the Executive will not be deemed to have experienced a termination of employment for the first six (6) months of the leave of absence, or if longer, for so long as the Executive’s right
to reemployment is provided either by statute or by contract, including this Agreement; provided that if the leave of absence is due to a medically determinable physical or mental impairment that can be expected to result in

  
 5 

 
death or last for a continuous period of not less than six (6) months, where such impairment causes the Executive to be unable to perform the duties of his position of employment or any
substantially similar position of employment, the leave may be extended by Stein Mart, Inc. for up to 29 months without causing a termination of employment. For purposes hereof, the term “409A affiliate” means each entity that is required
to be included in Stein Mart, Inc.’s controlled group of corporations within the meaning of Section 414(b) of the Code, or that is under common control with Stein Mart, Inc. within the meaning of Section 414(c) of the Code;
provided, however, that the phrase “at least 50 percent” shall be used in place of the phrase “at least 80 percent” each place it appears therein or in the regulations thereunder. 

 

	 	SECTION 3.	TITLE, POWERS AND RESPONSIBILITIES 

 (a) Title. Executive shall be
a Senior Vice-President and Director of Stores of the Company or such other title as designated by the Chief Executive Officer or the Company’s Board of Directors. Executive shall assume those duties on the Commencement Date. 

(b) Powers and Responsibilities. 
  

	 	(i)	Executive shall use Executives best efforts to faithfully perform the duties of his employment and shall perform such duties as are usually performed by a person serving in Executive’s position with a business
similar in size and scope as the Company and such other additional duties as may be prescribed from time to time by the Company which are reasonable and consistent with the Company’s operations, taking into account officer’s expertise and
job responsibilities. Executive agrees to devote Executive’s full business time and attention to the business and affairs of the Company. Executive shall serve on such boards and in such offices of the Company or its subsidiaries as the
Company’s Board of Directors reasonably requests without additional compensation. 

  

	 	(ii)	Executive, as a condition to his employment under this Agreement, represents and warrants that he can assume and fulfill responsibilities described in Section 3(b)(i) without any risk of violating any non-compete
or other restrictive covenant or other agreement to which he is a party. During the Employment Term Executive shall not enter into any agreement that would preclude, hinder or impair his ability to fulfill responsibilities described in
Section 3(b)(i) specifically or this Agreement generally. 

  

	 	SECTION 4.	COMPENSATION AND BENEFITS 

 (a) Annual Base Salary.
Executive’s base salary shall be $363,000 per year (“Annual Base Salary”) beginning on the Commencement Date, which amount may be periodically reviewed at the discretion of the Compensation Committee. The Annual Base
Salary and any payments to the Executive during any Continuation 

  
 6 

 
Period shall be payable in accordance with the Company’s standard payroll practices and policies (unless otherwise expressly provided herein) and shall be subject to such withholdings as
required by law or as otherwise permissible under such practices or policies. 
 (b) Earned Bonus; Incentive
Compensation; Executive shall be eligible to receive an Earned Bonus. Executive shall also be eligible to participate in such annual and long term incentive plans as are in effect from time to time as applicable to persons at Executive’s
level of authority and position. Nothing in this Section 4(b) guarantees that any Earned Bonus or other incentive compensation will be paid. 

(c) Employee Benefit Plans. Executive shall be entitled to receive the benefits described in Schedule A attached hereto,
if and for as long as the Company sponsors such plans and such plans remain in effect for other executives with the same level of status as Executive. 

(d) Stock Options. The Board of Directors, in its discretion, may grant rights to Executive under the Stein Mart, Inc.
Omnibus Plan (the “Option Plan”) on terms set by the Board of Directors or the Compensation Committee. 

(e) Deferred Compensation. Executive will participate in the Stein Mart Executive Deferred Compensation Plan (the
“Deferred Compensation Plan”). The Company reserves the right to alter, modify, revise or eliminate the Deferred Compensation Plan provided that any such change to the terms will apply to Executive and similarly situated
participants. 
 (f) Vacation, Holidays and Salary Continuation. Executive shall receive a total of 27 days of paid
vacation, or holidays on a pro rata basis during any 365 day period of the Term. The amount may be adjusted in accordance with the Company’s standard policy or as directed by the Company’s Board of Directors. Any vacation or holiday
leave time not used during any 365 day period of the Term will not carry forward to the next 365 period and will be forfeited. 

(g) Expense Reimbursements. Executive shall have the right to expense reimbursements in accordance with the
Company’s standard policy on expense reimbursements as in effect from time to time. 
 (h) Indemnification. With
respect to Executive’s acts or failures to act during his employment in his capacity as an officer, employee or agent of the Company, Executive shall be entitled to indemnification from the Company, and to liability insurance coverage (if any),
on the same basis as other officers of the Company. Executive shall be indemnified by Company, and Company shall pay Executive’s related expenses when and as incurred, all to the full extent permitted by law. Subject to applicable law, the
Company reserves the right to discontinue indemnification in the event the Company determines that the Executive has 

  
 7 

 
breached this Agreement or the Executive has advances, or intends to advance, a business or legal position contrary to the Company’s interests. Notwithstanding the foregoing, Executive shall
not be entitled to any indemnification if a judgment or other final adjudication establishes that any act or omission of Executive was material to the cause of action so adjudicated and that such act or omission constituted: (i) a criminal
violation, unless Executive had reasonable cause to believe that Executive’s conduct was lawful or had no reasonable cause to believe that such conduct was unlawful, (ii) a transaction from which Executive derived an improper personal
benefit, or (iii) willful misconduct or a conscious disregard for the best interests of the Company. 
 (i)
Automobile Allowance. The Company will pay Executive $13,200 per year (paid quarterly) which shall be used for the lease, purchase, maintenance and/or operation of a vehicle that Executive is to use for business travel or may use for personal
travel. Executive shall be solely responsible for any taxes associated with the automobile allowance afforded to him. Executive shall be expected to maintain a valid driver’s license and retain appropriate automobile and liability insurance
coverage. 
 (j) Other Perquisites. The Company will provide Executive with such other perquisites as may be made
generally available to others in a similar level of executive position within the Company. 
  

	 	SECTION 5.	TERMINATION OF EMPLOYMENT 

 (a) General; Non-Renewal. The Board of
Directors shall have the right to terminate Executive’s employment and this Agreement at any time with or without Cause, and Executive shall have the right to terminate his employment and this Agreement at any time with or without Good Reason;
provided that obligations under this Section 5, Section 6 and Section 7 shall survive termination of the Agreement. The Board of Directors may delegate its powers to terminate the Executive to the persons to whom the Executive
reports. In the event the Company elects not to renew the Executive’s employment following the end of the Term with compensation and benefits not materially less advantageous to the Executive than those set forth in this Agreement, but the
Executive is willing and able to enter into a renewal of this Agreement with compensation and benefits not materially less advantageous to the Executive than those set forth in this Agreement, then upon termination of the Executive’s
employment, (i) the Company shall pay the Executive his normal base twelve (12) months salary over a six month period beginning six (6) months following the Termination Date (subject in each case to such withholdings as required by
law), and (ii) the Company shall continue until the earlier to occur of the end of the Continuation Period or until such time as the Executive commences a new job, to maintain in effect for such Executive at the Company’s cost the
Executive’s Current Insurance Coverage; provided that if the taxable value of the continued life and accident and disability coverage to Executive during the first six (6) months following

  
 8 

 
the Termination Date exceeds the annual dollar limit in effect under Code Section 402(g)(1)(B) for the year of such termination, then the Executive shall pay the premiums in excess of such
limit for such coverage during such six (6)-month period and after the end of such six (6)-month period, the Company shall reimburse the Executive for the amount of the premiums paid by the Executive, without interest thereon. If the Company intends
to offer to renew the Executive’s employment following the end of the Term it will present its offer no later than thirty (30) days before the end of the Term. If the offer contains compensation and benefits not materially less
advantageous to the Executive than those set forth in this Agreement and the Executive does not accept that offer within thirty (30) days following the offer having been made, then
upon the expiration of the then current Term of this Agreement, the Executive shall be deemed to have terminated his or her employment without Good Reason. 

(b) Termination by Board of Directors without Cause or by Executive for Good Reason. If (i) the Board of Directors
terminates Executive’s employment without Cause, or (ii) Executive resigns for Good Reason, then in either of those circumstances, the Company’s only obligation to Executive under this Agreement (except as provided in §5(f)
hereof) shall be to pay Executive his earned but unpaid base salary, if any, up to the date of his termination of employment, plus 100% of his current total Annual Base Salary as specified in Section 4(a) (subject to such withholdings as
required by law) payable in periodic payments (consistent with the payroll periods then in effect) for twelve (12) consecutive months beginning six (6) months following the Termination Date. During the Continuation Period the Executive
shall also continue to receive, at the Company’s cost, the Current Insurance Coverage; provided that if the taxable value of the continued life and accident and disability coverage to Executive during the first six (6) months following the
Termination Date exceeds the annual dollar limit in effect under Code Section 402(g)(1)(B) for the year of such termination, then the Executive shall pay the premiums in excess of such limit for such coverage during such six (6)-month period
and after the end of such six (6)-month period, the Company shall reimburse the Executive for the amount of the premiums paid by the Executive, without interest thereon. 

(c) Termination by the Board of Directors for Cause or by Executive without Good Reason. If the Board of Directors of
the Company terminates Executive’s employment for Cause or Executive resigns without Good Reason, the Company’s only obligation to Executive under this Agreement shall be to pay Executive his earned but unpaid base salary, if any, up to
the date of his termination of employment, and the Company shall have no obligation to pay any Earned Bonus or Incentive Compensation with respect to the year during which the Termination Date occurs. The Company shall only be obligated to make such
payments and provide such benefits under any employee benefit plan, program or policy in which Executive was a participant as are explicitly required to be paid to Executive by the terms of any such benefit plan, program or policy following the
Termination Date. 

  
 9 

 (d) Termination for Disability. Subject to the definitions and
requirements of Section 2 (“Disability”), after six (6) consecutive months of such disability leave of absence, Executive’s service may be terminated by Company. In the event Executive is terminated from employment due to
Disability, the Company shall: 
 (i) pay Executive his Annual Base Salary through the end of the month in which his employment terminates
as soon as practicable after his employment terminates; provided that if such payment exceeds the applicable dollar amount in effect under Code Section 402(g)(1)(B) for the year in which such termination occurs, then the payment in
excess of such applicable dollar amount shall be paid following six (6) months after the Executive’s Termination Date; 
 (ii) pay
Executive his Earned Bonus, pro rata and if any, for the fiscal year in which such termination of employment occurs, which amount shall be paid at the same time the Earned Bonus would have been paid had Executive remained in employment; 

(iii) pay Executive an additional nine (9) months of compensation at the then-Annual Base Salary, which aggregate amount shall be payable
in equal semi-monthly installments beginning not earlier than six (6) months following the Termination Date and continuing for nine (9) months thereafter; 

(iv) pay or cause the payment of benefits to which Executive is entitled under the terms of any disability plan of the Company covering the
Executive at the time of such Disability: 
 (v) pay premiums for COBRA coverage as provided in Section 5(g); 

(vi) make such payments and provide such benefits as otherwise called for under the terms of each other employee benefit plan, program and
policy in which Executive was a participant; provided no payments made under Section 5(d)(ii) or Section 5(d)(iii) shall be taken into account in computing any payments or benefits described in this Section 5(d)(iv); and 

  
 10 

 (vii) in the event the Executive has any options or restricted shares (but excluding
“performance shares” which shall be governed by the terms set forth in the grant as to such shares) which are not vested on the date of termination for Disability, then pay to the Executive (i) as to any unvested options, the net
value of the excess, if any, of the closing price of the Company’s shares on the NASDAQ for the day on which the termination due to Disability occurs and the exercise price of such unvested options multiplied by the number of shares subject to
options which failed to vest; and (ii) as to any unvested restricted shares, the value of the closing price of the Company’s shares on the NASDAQ for the day on which the termination due to Disability occurs multiplied by the number of
restricted shares, if any, which failed to vest due to such termination of employment for Disability. 
 Notwithstanding the Executive’s
Disability, during the period of Disability leave, Executive shall be paid in full (net of insurance) as if he or she were actively performing services. Executive agrees to simultaneously utilize available leave under the Family and Medical Leave
Act of 1993 during such disability leave of absence. During the period of such Disability leave of absence, the Board of Directors may designate someone to perform Executive’s duties. Executive shall have the right to return to full-time
service so long as he is able to resume and faithfully perform his full-time duties. 
 (e) Death. If Executive’s employment
terminates as a result of his death, the Company shall: 
 (i) pay to Executive’s estate his Annual Base Salary through
the end of the month in which his employment terminates as soon as practicable after his death; 
 (ii) pay to
Executive’s estate his Earned Bonus, when actually determined, for the year in which Executive’s death occurs; 

(iii) make such payments and provide such benefits as otherwise called for under the terms of each other employee benefit
plan, program and policy in which Executive was a participant; provided no payments made under Section 5(e)(ii) shall be taken into account in computing any payments or benefits described in this Section 5(e)(iii); and 

  
 11 

 (iv) in the event the Executive has any options or restricted shares (but
excluding “performance shares” which shall be governed by the terms set forth in the grant as to such shares) which are not vested on the date of termination for death, then pay to the Executive’s estate (i) as to any unvested
options, the net value of the excess, if any, of the closing price of the Company’s shares on the NASDAQ for the day on which the death occurred and the exercise price of such unvested options multiplied by the number of shares subject to
options which failed to vest; and (ii) as to any unvested restricted shares, the value of the closing price of the Company’s shares on the NASDAQ for the day on which the death occurred multiplied by the number of restricted shares, if
any, which failed to vest due to such termination of employment for death. 
 Any amounts payable to Executive under this Agreement which are
unpaid at the date of Executive’s death or payable hereunder or otherwise by reason of his death, shall be paid in accordance with the terms of this Agreement to Executive’s estate; provided that if there is a specific beneficiary
designation in place for any specific amount payable, then payment of such amount shall be made to such beneficiary. 
 (f)
Change in Control. If a Change in Control occurs, then for a period beginning on the occurrence of the Change in Control and ending two years following that occurrence (the “Post Change in Control Period”): 

(i) In addition to the other events constituting Good Reason under this Agreement, the following shall also constitute Good
Reason: if the Executive is willing and able to continue employment with the Company but the Company exercises its right to either not renew this Agreement, or only offers to renew this Agreement only under conditions or terms which would constitute
a “material change” (as that term is defined in the definition of Good Reason), provided, however, that notice of exercise of the Executive’s termination for Good Reason must be received by the Company during the Post Change in
Control Period and not later than thirty (30) days after the Company exercises its right not to renew this Agreement or to renew the Agreement only on terms which would constitute a “material change”; and 

(ii) In the event of termination of the Executive’s employment with the Company pursuant to §5(b) hereof either by
the Company without Cause, or by the Executive for Good Reason (as such term is expanded to include the circumstances described in §5(f)(i) above), with notice of such termination given within the Post Change in Control Period, then the
Executive shall receive the following (the “CIC Severance Payments”) in a lump sum payable in funds immediately available in Jacksonville, Florida not earlier than six (6) months following the Termination Date and not later
than seven (7) months following Termination Date: an amount equal to 200% of the sum of 

  
 12 

 
(A) the total of severance payments (other than continued insurance coverage) provided under §5(b) of this agreement (and in lieu thereof), and (B) the Earned Bonus in the year of the
Termination Date. For purposes of this subsection (f) Earned Bonus shall not be prorated and shall be an amount equal to “Target” bonus as defined in the Company’s incentive compensation plan in effect from time to time. 

(g) Benefit Continuation. Provided Executive is eligible for COBRA coverage, and has not been terminated from employment
for Cause or resigned without Good Reason, then the Company shall pay the Executive’s COBRA premiums commencing on the date of the Executive’s termination of employment and continuing for the applicable Continuation Period in order to
continue Executive’s health insurance coverage and maintain such coverage in effect; provided that following the end of the COBRA continuation period, if Executive’s health insurance coverage is provided under a health plan that is subject
to Code Section 105(h), benefits payable under such health plan shall comply with the requirements of Treasury Regulation Section 1.409A-3(i)(1)(iv) and, if necessary, the Company shall amend such health plan to comply therewith. 

(h) Relinquishment of Corporate Positions. Executive shall automatically cease to be an officer and/or director of the
Company and its affiliates as of his date of termination of employment. 
 (i) Limitation. Anything in this Agreement
to the contrary notwithstanding, Executive’s entitlement to or payments under any other plan or agreement shall be limited to the extent necessary so that no payment to be made to Executive on account of termination of his employment with the
Company will be subject to the excise tax imposed by Code Section 4999, but only if, by reason of such limitation, Executive’s net after tax benefit shall exceed the net after tax benefit if such reduction were not made. “Net after
tax benefit” shall mean (i) the sum of all payments and benefits that Executive is then entitled to receive under any section of this Agreement or other plan or agreement that would constitute a “parachute payment” within the
meaning of Section 280G of the Code, less (ii) the amount of federal income tax payable with respect to the payments and benefits described in clause (i) above calculated at the maximum marginal income tax rate for each year in which
such payments and benefits shall be paid to Executive (based upon the rate in effect for such year as set forth in the Code at the time of the first payment of the foregoing), less (iii) the amount of excise tax imposed with respect to the
payments and benefits described in clause (i) above by Section 4999 of the Code. Any limitation under this Section 5(i) of Executive’s entitlement to payments shall be made in the manner and in the order directed by Executive.

  
 13 

	 	SECTION 6.	COVENANTS BY EXECUTIVE 

 (a) Company Property. Upon the
termination of Executive’s employment for any reason, Executive shall promptly return all Company Property which had been entrusted or made available to Executive by the Company. “Property” means all records, files,
memoranda, communication, reports, price lists, plans for current or prospective business operations, customer lists, drawings, plans, sketches, keys, codes, computer hardware and software and other property of any kind or description prepared, used
or possessed by Executive during Executive’s employment by the Company (and any duplicates of any such Property) together with any and all information, ideas, concepts, discoveries, processes, intellectual property, inventions and the like
conceived, made, developed or acquired at any time by Executive individually or with others during Executive’s employment which relate to the Company or its products or services or operations. 

(b) Trade Secrets. Executive agrees that Executive shall hold in a fiduciary capacity for the benefit of the Company and
shall not directly or indirectly use or disclose any Trade Secret that Executive may have acquired during the term of Executive’s employment by the Company for so long as such information remains a Trade Secret. “Trade
Secret” means information, including, but not limited to, technical or non-technical data, a formula, a pattern, a compilation, a program, a device, a method, a technique, a drawing or a process that (1) derives economic value,
actual or potential, from not being generally known to, and not being generally readily ascertainable by proper means by, other persons who can obtain economic value from its disclosure or use and (2) is the subject of reasonable efforts by the
Company to maintain its secrecy. This Section 6(b) is intended to provide rights to the Company which are in addition to, not in lieu of, those rights the Company has under the common law or applicable statutes for the protection of trade
secrets. 
 (c) Confidential Information. During the Employment Term and continuing thereafter indefinitely, Executive
shall hold in a fiduciary capacity for the benefit of the Company, and shall not directly or indirectly use or disclose, any Confidential Information that Executive may have acquired (whether or not developed or compiled by Executive and whether or
not Executive is authorized to have access to such information) during the term of, and in the course of, or as a result of Executive’s employment by the Company without the prior written consent of the Board of Directors unless and except to
the extent that such disclosure is (i) made in the ordinary course of Executive’s performance of his duties under this Agreement or (ii) required by any subpoena or other legal process (in which event Executive will give the Company
prompt notice of such subpoena or other legal process in order to permit the Company to seek appropriate protective orders). “Confidential Information” means any secret, confidential or proprietary information possessed by
the Company or any of its subsidiaries or affiliates, including, without limitation, trade secrets, customer or supplier lists, details of client or consultant contracts, current and anticipated customer requirements, pricing policies, price lists,
market studies, 

  
 14 

 
business plans, operational methods, marketing plans or strategies, advertising campaigns, information regarding customers or suppliers, computer software programs (including object code and
source code), data and documentation data, base technologies, systems, structures and architectures, inventions and ideas, past current and planned research and development, compilations, devices, methods, techniques, processes, financial
information and data, business acquisition plans and new personnel acquisition plans and the terms and conditions of this Agreement that has not become generally available to the public. 

(d) Remedies. Executive recognizes that his duties will entail the receipt of Trade Secrets and Confidential Information
as defined in this Section 6. Those Trade Secrets and Confidential Information have been developed by the Company at substantial cost and constitute valuable and unique property of the Company. Accordingly, the Executive acknowledges that
protection of Trade Secrets and Confidential Information is a legitimate business interest. If the Executive shall breach the covenants contained in this Section 6, the Company shall have no further obligation to make any payment to the
Executive pursuant to this Agreement and may recover from the Executive all such damages as it may be entitled to at law or in equity. In addition, the Executive acknowledges that any such breach is likely to result in irreparable harm to the
Company. The Company shall be entitled to specific performance of the covenants in this Section 6, including entry of a temporary restraining order in state or federal court, preliminary and permanent injunctive relief against activities in
violation of this Section 6, or both, or other appropriate judicial remedy, writ or order, in addition to any damages and legal expenses which the Company may be legally entitled to recover. Executive acknowledges and agrees that the covenants
in this Section 6 shall be construed as agreements independent of any other provision of this Agreement or any other agreement between the Company and Executive, and that the existence of any claim or cause of action by Executive against the
Company, whether predicated upon this Agreement or any other agreement, shall not constitute a defense to the enforcement by the Company of such covenants. 

(e) Non-Solicitation. During the Employment Term and for a period of two years hereafter (such period is referred to as
the “No Recruit Period”), the Executive will not solicit or attempt to either directly or indirectly, any person that he knows or should reasonably know to be an employee of the Company, whether any such employees are now or hereafter
through the No Recruit Period so employed or engaged to terminate or alter their employment with the Company. The foregoing is not intended to limit any legal rights or remedies that any employee of the Company may have under common law with regard
to any interference by Executive at any time with the contractual relationship the Company may have with any of its employees. 

(f) Reasonable and Continuing Obligations. Executive agrees that Executive’s obligations under this Section 6
are obligations which will continue 

  
 15 

 
beyond the date Executive’s employment terminates and that such obligations are reasonable, fair and equitable in scope. The terms and duration are necessary to protect the Company’s
legitimate business interests and are a material inducement to the Company to enter into this Agreement. Executive further acknowledges that the consideration for this Section 6 is his employment or continued employment. Executive will not be
paid any additional compensation during this Restricted Period for application or enforcement of the restrictive covenants contained in this Section 6. 

(g) Work Product. The term “Work Product” includes any and all information, programs, concepts, processes,
discoveries, improvements, formulas, know-how and inventions, in any form whatsoever, relating to the business or activities of the Company, or resulting from or suggested by any work developed by the Executive in connection with the Company, or by
the Executive at the Company’s request. Executive acknowledges that all Work Product developed during the Term is property of the Company and accordingly, Executive does hereby irrevocably assign all Work Product developed by the Executive to
the Company and agrees: (a) to assign to the Company, free from any obligation of the Company to the Executive, all of the Executive’s right, title and interest in and to Work Product conceived, discovered, researched, or developed by the
Executive either solely or jointly with others during the term of this Agreement and for three (3) months after the termination or nonrenewal of this Agreement; and (b) to disclose to the Company promptly and in writing such Work Product
upon the Executive’s acquisition thereof. 
 Cooperation. During and subsequent to termination of the employment of the Executive, the Executive
will cooperate with Company and furnish any and all complete and truthful information, testimony or affidavits in connection with any matter that arose during the Executive’s employment, that in any way relates to the business or operations of
the Company or any of its subsidiary corporations, divisions or affiliates, or of which the Executive may have any knowledge or involvement; and will consult with and provide information to Company and its representatives concerning such matters.
Subsequent to the termination of the employment of the Executive, the parties will make their best efforts to have such cooperation performed at reasonable times and places and in a manner as not to unreasonably interfere with any other employment
in which Executive may then be engaged. Nothing in this Agreement shall be construed or interpreted as requiring the Executive to provide any testimony, sworn statement or declaration that is not complete and truthful. If Company requires the
Executive to travel outside the metropolitan area in the United States where the Executive then resides to provide any testimony or otherwise provide any such assistance, then Company will reimburse the Executive for any reasonable, ordinary and
necessary travel and lodging expenses incurred by Executive to do so provided the Executive submits all documentation required under Company’s standard travel expense reimbursement policies and as otherwise may be required to satisfy any
requirements under applicable tax laws for Company to deduct those expenses. Nothing in this Agreement shall be construed or interpreted as requiring the Executive to provide any testimony or affidavit that is not complete and truthful 

  
 16 

	 	SECTION 7.	MISCELLANEOUS 

 (a) Notices. Notices and all other communications
shall be in writing and shall be deemed to have been duly given when personally delivered or when mailed by United States registered or certified mail. Notices to the Company shall be sent to: 

STEIN MART, INC 

Attention: General Counsel 

1200 Riverplace Boulevard, 10th Floor 

Jacksonville, FL 32207 

Facsimile: (904) 346-1297 

Notices and communications to Executive shall be sent to the address Executive most recently provided to the Company. 

(b) No Waiver. No failure by either the Company or Executive at any time to give notice of any breach by the other of,
or to require compliance with, any condition or provision of this Agreement shall be deemed a waiver of any provisions or conditions of this Agreement. 

(c) Governing Law. This Agreement shall be governed by Florida law without reference to the choice of law principles
thereof. 
 (d) Assignment. This Agreement shall be binding upon and inure to the benefit of the Company and any
successor in interest to the Company or any segment of such business. The Company may assign this Agreement to any affiliate or successor that acquires all or substantially all of the assets and business of the Company or a majority of the voting
interests of the Company. The Company will require any successor (whether direct or indirect, by operation of law, by purchase, merger, consolidation or otherwise to all or substantially all of the business and/or assets of Company) to expressly
assume and agree to perform this Agreement in the same manner and to the same extent that Company would be required to perform it if no such succession had taken place. As used in this Agreement, “Company” shall mean Company as defined
above and, unless the context 

  
 17 

 
otherwise requires, any successor to its business and/or assets as aforesaid which assumes and agrees to perform this Agreement by operation of law, or otherwise. Executive’s rights and
obligations under this Agreement are personal and shall not be assigned or transferred. 
 (e) Other Agreements. This
Agreement replaces and merges any and all previous agreements and understandings regarding all the terms and conditions of Executive’s employment relationship with the Company, and this Agreement constitutes the entire agreement between the
Company and Executive with respect to such terms and conditions. 
 (f) Amendment. No amendment to this Agreement
shall be effective unless it is in writing and signed by the Company and by Executive. 
 (g) Invalidity and
Severability. If any part of this Agreement is held by a court of competent jurisdiction to be invalid or otherwise unenforceable, the remaining part shall be unaffected and shall continue in full force and effect, and the invalid or otherwise
unenforceable part shall be deemed not to be part of this Agreement. 
 (h) Litigation. In the event that either party
to this Agreement institutes litigation against the other party to enforce his or its respective rights under this Agreement, each party shall pay its own costs and expenses incurred in connection with such litigation. As a material part of the
consideration for this Agreement, BOTH PARTIES HERETO WAIVE ANY RIGHT TO A TRIAL BY A JURY in the event of any litigation arising from this Agreement. All legal actions arising out of or connected with this Agreement must be instituted solely in the
Circuit Court of Duval County, Florida, or in the Federal District Court for the Middle District of Florida, Jacksonville Division, and all parties hereto do hereby agree to submit to the exclusive personal jurisdiction of such courts. Each of the
parties hereby expressly and irrevocably submits to the jurisdiction of such courts for the purposes of any such action and expressly and irrevocably waives, to the fullest extent permitted by law, any objection which it may have or hereafter may
have to the laying of venue of any such action brought in any such court and any claim that any such action has been brought in an inconvenient forum. 

(i) Counterparts. This Agreement may be executed in counterparts each of which shall be deemed an original, but all of
which together shall constitute one and the same instrument. 

  
 18 

 IN WITNESS WHEREOF, the Company and Executive have executed this Agreement effective as of
the Effective Date. 
  

									
	STEIN MART, INC.	 		 		 	EXECUTIVE
					
	By:	 	 /s/ D. Hunt Hawkins
	 		 		 	 /s/ Gary L. Pierce

	Name:	 	D. Hunt Hawkins	 		 		 	Gary L. Pierce
	Title:	 	President, Chief Operating Officer	 		 		 	
	Date:	 	4/24/14	 		 		 	Date: 4/9/14

  

  
 19 

 SCHEDULE A 

BENEFITS 
  

	1.	Retirement Plan/Life Insurance/AD&D 

 The Executive shall be entitled to participate
in all retirement plans and will be entitled to life insurance and AD&D benefits which other senior executives of the Company or affiliates of the Company are eligible. 
  

	2.	Long-Term Disability 

 The Executive shall be entitled to participate in all Long-Term
and Life Time Disability plans which other senior executives of the Company or affiliates of the Company are eligible. 
  

	3.	Medical/Dental Benefits 

 The Executive shall be entitled to medical/dental benefits
which other senior executives of the Company or affiliates of the Company are eligible. 

  
 A-1

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