Document:

Exhibit 10.1

 

EMPLOYMENT
NON-COMPETE, NON-SOLICIT AND CONFIDENTIALITY AGREEMENT

 

This EMPLOYMENT NON-COMPETE,
NON-SOLICIT AND CONFIDENTIALITY AGREEMENT (“Agreement”) is entered into between Citi Trends, Inc., including its subsidiaries,
affiliates, divisions, successors, and related entities (“Company”), and Heather Plutino (“Employee”), as of the
date signed by Employee below, to be effective as of June 27, 2022 (the “Effective Date”).

 

For and in consideration of
the mutual covenants and agreements contained herein, including, but not limited to, Company agreeing to employ and/or continuing to employ
Employee, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree:

 

1.            Employment;
Scope of Services. As of the Effective Date, Company shall employ and/or continue to employ Employee, and Employee shall be
employed and/or continue to be employed by Company, as Executive Vice President, Chief Financial Officer. Employee shall use his/her best
efforts and shall devote his/her full time, attention, knowledge and skills to the faithful performance of his/her duties and responsibilities
as a Company employee. Employee shall have such authority and such other duties and responsibilities as assigned by the Chief Executive
Officer. Employee shall comply with Company’s policies and procedures, shall conduct him/herself as an ethical business professional,
and shall comply with federal, state and local laws.

 

2.            At-Will
Employment. Nothing in this Agreement alters the at-will employment relationship between Employee and Company or limits Company’s
right to alter or modify Employee’s job title or job duties and responsibilities any time at Company’s discretion. Employment
with Company is “at-will” which means that either Employee or Company may terminate the employment relationship at any time,
with or without notice, with or without cause. The date of Employee’s cessation of employment for any reason is the “Separation
Date.”

 

3.            Confidentiality.

 

(a)            Employee
acknowledges and agrees that: (1) the retail sale of value-priced/off-price family apparel is an extremely competitive industry;
(2) Company has an ongoing strategy for expansion of its business in the United States; (3) Company’s major competitors
operate throughout the United States and some internationally; and (4) because of Employee’s position as Executive Vice President,
Chief Financial Officer he/she will have access to, knowledge of, and be entrusted with, highly sensitive and competitive Confidential
Information and Trade Secrets (as defined in subsection (b) below) of Company, including without limitation information regarding
sales margins, purchasing and pricing strategies, marketing strategies, vendors and suppliers, plans for expansion and placement of stores,
and also specific information about Company’s districts and stores, such as staffing, budgets, profits and the financial success
of individual districts and stores, which Company has developed and will continue to develop and the disclosure or use of which would
cause Company great and irreparable harm.

 

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(b)            As
used herein, “Confidential Information” means and includes any and all Company data and information in any form whatsoever
(tangible or intangible) which: (1) relates to the business of Company, irrespective of whether the data or information constitutes
a “trade secret” (as defined below); (2) is disclosed to Employee or which Employee obtains or becomes aware of as a
consequence of Employee’s relationship with Company; (3) has value to Company; and (4) is not generally known to Company’s
competitors. “Confidential Information” includes (but is not limited to) technical or sales data, formulas, patterns, compilations,
programs, devices, methods, techniques, drawings, processes, financial data and statements, financial plans and strategies, product plans,
sales or advertising information and plans, marketing information and plans, pricing information, the identity or lists of employees,
vendors and suppliers of Company, and confidential or proprietary information of such employees, vendors and suppliers. “Trade
Secret” means any and all information, knowledge or data in any form whatsoever, tangible or intangible, that is considered
a trade secret under applicable law. Employee acknowledges and agrees that all Confidential Information and Trade Secrets are and remain
the sole and exclusive property of Company.

 

(c)            Employee
agrees that he/she shall hold all Confidential Information and Trade Secrets in strictest confidence, and that he/she shall protect such
Confidential Information and Trade Secrets from disclosure by or to others. Employee further agrees that he/she shall not at any time
(except as authorized by Company in connection with Employee’s duties and responsibilities as an employee): (1) disclose, publish,
transfer, or communicate Confidential Information or Trade Secrets to any person or entity, other than authorized Company personnel; (2) use
or reproduce Confidential Information or Trade Secrets for personal benefit or for any purpose or reason other than furthering the legitimate
business interest of Company within the scope of Employee’s duties with Company; or (3) remove or transfer any Confidential
Information or Trade Secrets from Company’s premises or systems (by any method or means) except for use in Company’s business
and consistent with Employee’s duties with the Company. The foregoing covenants and obligations are in addition to, and do not limit,
any common law or statutory rights and/or protections afforded to Company.

 

(d)            Employee
acknowledges that Company has provided or will provide Employee with Company property, including without limitation, employee handbooks,
policy manuals, price lists, financial reports, and vendor and supplier information, among other items. Upon the Separation Date, or upon
the request of Company, Employee shall immediately deliver to Company all property belonging to Company, including without limitation,
all Confidential Information, Trade Secrets, and any property related to Company, whether in electronic or other format, as well as any
copies thereof, then in Employee’s custody, control, or possession. Upon the Separation Date, Employee shall provide Company with
a declaration certifying that all Confidential Information and any other Company property have been returned to Company, that Employee
has not kept any copies of such items or distributed such items to any third party, and that Employee has otherwise complied with the
terms of Section 3 of this Agreement.

 

(e)            Employee
shall not be held criminally or civilly liable under any federal or state trade secret law for the disclosure of a trade secret (as defined
in section 1839 of title 18, United States Code) that (A) is made (i) in confidence to a federal, state, or local government
official, either directly or indirectly, or to an attorney; and (ii) solely for the purpose of reporting or investigating a suspected
violation of law; or (B) is made in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made
under seal. If Employee files a lawsuit for retaliation by the Company for reporting a suspected violation of law, Employee may disclose
the trade secret to the attorney of Employee and use the trade secret information in the court proceeding if Employee (A) files any
document containing the trade secret under seal; and (B) does not disclose the trade secret, except as permitted by court order.

 

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4.            Covenant
Not to Compete. Employee acknowledges and agrees that Company has invested a great deal of time and money in developing relationships
with its employees, customers, and “Merchandise Vendors” (as defined below). Employee further acknowledges and agrees that
in rendering services to Company, Employee has been, will be and will continue to be exposed to and learn much information about Company’s
business, including valuable Confidential Information and Trade Secrets, the Company’s employees, and the Company’s “Merchandise
Vendors,” to which Employee would not have access if not for Employee’s employment with Company and which it would be unfair
to disclose to others, or to use to Company’s disadvantage.

 

Employee acknowledges and agrees that the restrictions
contained in this Agreement are necessary and reasonable to protect Company’s legitimate business interests in its Trade Secrets,
valuable Confidential Information and relationships and goodwill with its employees, customers, and “Merchandising Vendors.”
Employee further acknowledges that Employee’s skills, education and training qualify Employee to work and obtain employment which
does not violate this Agreement and that the restrictions in this Agreement have been crafted as narrowly as reasonably possible to protect
Company’s legitimate business interests in its Trade Secrets, valuable Confidential Information and relationships and goodwill with
its employees, customers, and “Merchandising Vendors.”

 

In light of the foregoing, Employee agrees that
he/she will not, at any point during his/her employment with Company, work for or engage or participate in any business, enterprise, or
endeavor that in any way competes with any aspect of Company’s business or that otherwise conflicts with Company’s interests.
In addition, for a period of one (1) year following the Separation Date, and regardless of the reason for separation, Employee shall
not, within any geographic area in which Company does business at any time during Employee’s employment with Company: (a) become
employed by or work for a “Competitor” (as defined below) in any position or capacity involving duties and/or responsibilities
which are the same as or substantially similar to any of the duties and/or responsibilities Employee had with and/or performed for Company;
or (b) perform or provide any services which are the same as or substantially similar to any of the services which Employee performed
or provided for the Company, for or on behalf of any Competitor. For purposes of this Section 4, the term “Competitor”
shall mean only the following businesses, commonly known as: Cato, TJX (including without limitation TJMAXX, HomeGoods, and Marshalls),
Burlington Stores, Gabe’s Stores, and Ross Stores (including without limitation DD’s Discounts).

 

5.            Covenant
Not to Solicit. During Employee’s employment with Company, and for a period of eighteen (18) months following the Separation
Date, and regardless of the reason for separation, Employee agrees not to solicit any “Merchandise Vendors” (as defined below)
for the purpose of obtaining merchandise and/or inventory for or on behalf of any “Competitor” (as defined in Section 4
of this Agreement). As used herein, “Merchandise Vendors” means and includes any person or entity who/that has been
a vendor or supplier of merchandise and/or inventory to Company during the eighteen (18) months immediately preceding the Separation Date
or to whom/which Company is actively soliciting for the provision of merchandise and/or inventory, and with whom/which Employee had “material
contact.” For purposes of this agreement, “material contact” means contact between Employee and an existing or
prospective Merchandise Vendor: (a) with whom Employee dealt on behalf of Company within two years prior to the date of Employee’s
termination; (b) whose dealings with Company were coordinated or supervised by Employee within two years prior to the date of Employee’s
termination; (c) about whom Employee obtained Confidential Information in the ordinary course of business as a result of Employee’s
association with Company within two years prior to the date of Employee’s termination; or, (d) who provides merchandise and/or
inventory to Company, the provision of which results or resulted in compensation, commissions, or earnings for Employee within two years
prior to the date of Employee’s termination.

 

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Employee specifically acknowledges and agrees
that, as Executive Vice President, Chief Financial Officer, his/her duties include, without limitation, establishing purchasing and pricing
strategies and policies, managing sales margins, involvement in establishing and maintaining vendor relationships, and having contact
with and confidential and/or proprietary information regarding Merchandise Vendors.

 

6.            Covenant
Not to Recruit Personnel. During Employee’s employment with Company, and for a period of two (2) years following the Separation
Date, and regardless of the reason for separation, Employee will not: (a) recruit or solicit to hire or assist others in recruiting
or soliciting to hire, any employee or independent contractor of Company; or (b) cause or assist others in causing any employee or
independent contractor of Company to terminate his/her relationship with Company.

 

7.            Severability.
If any provision of this Agreement is held invalid, illegal, or otherwise unenforceable, in whole or in part, the remaining provisions,
and any partially enforceable provisions to the extent enforceable, shall be binding and remain in full force and effect. Further, each
particular prohibition or restriction set forth in any Section of this Agreement shall be deemed a severable unit, and if any court
of competent jurisdiction determines that any portion of such prohibition or restriction is against the policy of the law in any respect,
but such restraint, considered as a whole, is not so clearly unreasonable and overreaching in its terms as to be unconscionable, the court
shall enforce so much of such restraint as is determined to be reasonably necessary to protect the legitimate interests of Company. Employee
and Company expressly agree that, should any court of competent jurisdiction find or determine that any of the covenants contained herein
are overly-broad or otherwise unenforceable, the court may “blue-pencil,” modify, and/or reform any such covenant (in whole
or in part) so as to cure the over-breadth or to otherwise render the covenant enforceable.

 

8.            Survival
of Covenants. All rights and covenants contained in Sections 3, 4, 5, and 6 of this Agreement, and all remedies relating thereto,
shall survive the termination of this Agreement for any reason.

 

9.            Binding
Effect. The covenants, terms, and provisions set forth in this Agreement shall inure to the benefit of and be enforceable by Company
and its successors, assigns, and successors-in-interest, including, without limitation, any corporation, partnership, or other entity
with which Company may be merged or by which it may be acquired. Employee may not assign Employee’s rights or obligations under
this Agreement to any other party.

 

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10.            Governing
Law. All matters affecting this Agreement, including the validity thereof, are to be subject to, and interpreted and construed in
accordance with, the laws of the State of Georgia applicable to contracts executed in and to be performed in that State.

 

11.            No
Interference with Rights. Employee understands, agrees and acknowledges that nothing contained in this Agreement will prevent Employee
from filing a charge or complaint with, reporting possible violations of any law or regulation, making disclosures to, and/or participating
in any investigation or proceeding conducted by, the National Labor Relations Board, Equal Employment Opportunity Commission, the Securities
and Exchange Commission, and/or any governmental authority charged with the enforcement of any laws.

 

12.            Acknowledgment
of Reasonableness/Remedies/Enforcement.

 

(a)            Employee
acknowledges that: (1) Company has valid interests to protect pursuant to Sections 3, 4, 5, and 6 of this Agreement; (2) the
breach of the provisions of Sections 3, 4, 5, or 6 of this Agreement would result in irreparable injury and permanent damage to Company;
and (3) such restrictions are reasonable and necessary to protect the interests of Company, are critical to the success of Company’s
business, and do not cause undue hardship on Employee.

 

(b)            Employee
agrees that determining damages in the event of a breach of Sections 3, 4, 5, or 6 by Employee would be difficult and that money damages
alone would be an inadequate remedy for the injuries and damages which would be suffered by Company from such breach. Therefore, Employee
agrees that Company shall be entitled (in addition to any other remedies it may have under this Agreement, at law, or otherwise) to immediate
injunctive and other equitable relief to prevent or curtail any such breach or threatened breach by Employee. Employee and Company waive
any requirement that a bond or any other security be posted. Nothing in this Agreement shall prohibit Company from seeking or recovering
any legal or monetary damages to which it may be entitled if Employee breaches any provision in this Agreement.

 

(c)            In
the event Employee breaches this Agreement, Employee shall be liable to Company for all costs of enforcement, including attorneys’
fees and court costs, in addition to all other damages and redress available to Company in equity or in law.

 

13.            Miscellaneous.
This Agreement constitutes the entire agreement between the parties and supersedes any and all prior contracts, agreements, or understandings
between the parties which may have been entered into by Company and Employee relating to the subject matter hereof (including, without
limitation, the Prior Confidentiality Agreement), except for any severance agreements or certain restricted stock award and stock option
agreements, which are to remain in full force and effect. This Agreement may not be amended or modified in any manner except by an instrument
in writing signed by both Company and Employee. The failure of either party to enforce at any time any of the provisions of this Agreement
shall in no way be construed to be a waiver of any such provision or the right of such party thereafter to enforce each and every such
provision. No waiver of any breach of this Agreement shall be held to be a waiver of any other or subsequent breach. All remedies are
cumulative, including the right of either party to seek equitable relief in addition to money damages.

 

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EMPLOYEE ACKNOWLEDGES AND AGREES THAT HE/SHE
HAS CAREFULLY READ THIS AGREEMENT AND KNOWS AND UNDERSTANDS ITS CONTENTS, THAT HE/SHE ENTERS INTO THIS AGREEMENT KNOWINGLY AND VOLUNTARILY,
AND THAT HE/SHE INDICATES HIS/HER CONSENT BY SIGNING THIS FINAL PAGE.

 

(SIGNATURES TO FOLLOW ON NEXT PAGE)

 

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IN WITNESS WHEREOF, the parties
hereto have executed this Agreement under seal as of the day and year set forth below.

 

	Citi Trends, Inc.	 	 
	 	 	 
	By:	/s/ David N. Makuen	 	By:	 /s/ Heather L. Plutino
	David N. Makuen	 	Employee Signature
	Chief Executive Officer  	 	 
	 	 	 
	Date: June 14, 2022	 	Date: June 14, 2022 

 

    	 	7Exhibit 10.2

 

SEVERANCE AGREEMENT

 

This SEVERANCE AGREEMENT (“Agreement”)
is entered into between Citi Trends, Inc., a Delaware corporation, including its subsidiaries, affiliates, divisions, successors,
and related entities (the “Company”), and Heather Plutino, an individual (the “Executive”), as of the date signed
by the Executive below, to be effective as of June 27, 2022.

 

WHEREAS, the Company and the
Executive are also parties to an Employment Non-Compete, Non-Solicit and Confidentiality Agreement (the “Confidentiality Agreement”)
and certain restricted stock award and stock option agreements (collectively, the “Equity Agreements”), which are to
remain in full force and effect;

 

NOW, THEREFORE, in consideration
of the mutual agreements set forth herein, the parties agree as follows:

 

1.            Termination
Payments and Benefits. Regardless of the circumstances of the Executive’s termination, Executive shall be entitled to payment
when due of any earned and unpaid base salary, expense reimbursements and vacation days accrued prior to the termination of Executive’s
employment, and other unpaid vested amounts or benefits under Company retirement and health benefit plans, and, as applicable, under Equity
Agreements in accordance with their terms, and to no other compensation or benefits.

 

(a)            If
(i) the Company terminates the Executive’s employment without Cause, or (ii) the Executive terminates employment with
the Company within twelve (12) months following the occurrence of a Change in Control, provided that within such period, (a) either
Executive’s job duties have been materially and permanently diminished or the Executive’s compensation has been materially
decreased and (b) Executive provides written notice to the Company within ninety (90) days of the occurrence of an aforementioned
event and the Company fails to cure the event within thirty (30) days following the Company’s receipt of the Executive’s written
notice, then, in the case of either (i) or (ii) above, the Company will provide the Executive with separation payments of twelve
(12) months base salary at Executive’s base salary rate at the time of Executive’s termination or if greater, the Executive’s
base rate in effect on the Change of Control Date; to be paid in twenty-six (26) regular bi-weekly pay periods beginning on the first
pay period occurring after the sixtieth (60th) day following the Executive’s termination, provided the Executive executes and does
not subsequently revoke the Separation and General Release Agreement referenced below within such sixty (60) day period.

 

(b)            For
a period of twelve (12) months from the Executive’s separation from service, the Company will pay to the Executive an amount, minus
all applicable taxes and withholdings, equal to the full monthly cost (including any portion of the cost previously paid by the employee)
to provide the same level of group health benefits maintained by Executive as of Executive’s separation from service, provided the
Executive executes and does not subsequently revoke the Separation and General Release Agreement referenced below within such sixty (60)
day period.

 

     

     

    

 

(c)            For
purposes of this Agreement, “Change in Control” shall mean the occurrence of any one of the following events:

 

(i)            the
acquisition by any individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Securities Exchange
Act of 1934, as amended (the “1934 Act”)) (a “Person”) of beneficial ownership (within the meaning
of Rule 13d-3 promulgated under the 1934 Act) of 50% or more of the combined voting power of the then outstanding voting securities
of the Company entitled to vote generally in the election of directors (the “Outstanding Company Voting Securities”);
provided, however, that for purposes of this subsection (1), the following acquisitions shall not constitute a Change of Control: (i) any
acquisition by a Person who is on the date of this Agreement the beneficial owner of 50% or more of the Outstanding Company Voting Securities,
(ii) any acquisition directly from the Company, (iii) any acquisition by the Company, (iv) any acquisition by any employee
benefit plan (or related trust) sponsored or maintained by the Company or any corporation controlled by the Company, or (v) any acquisition
by any corporation pursuant to a transaction which complies with clauses (i), (ii) and (iii) of subsection (3) of this
definition; or

 

(ii)            individuals
who, as of the date of this Agreement, constitute the Board of Directors of the Company (the “Incumbent Board”) cease
for any reason to constitute at least a majority of the Board of Directors of the Company; provided, however, that any individual becoming
a director subsequent to the Effective Date whose election, or nomination for election by the Company's shareholders, was approved by
a vote of at least a majority of the directors then comprising the Incumbent Board shall be considered as though such individual were
a member of the Incumbent Board, but excluding, for this purpose, any such individual whose initial assumption of office occurs as a result
of an actual or threatened election contest with respect to the election or removal of directors or other actual or threatened solicitation
of proxies or consents by or on behalf of a Person other than the Board of Directors of the Company; or

 

(iii)            consummation
of a reorganization, merger, consolidation or share exchange or sale or other disposition of all or substantially all of the assets of
the Company (a “Business Combination”), in each case, unless, following such Business Combination, (i) all or
substantially all of the individuals and entities who were the beneficial owners of the Outstanding Company Voting Securities immediately
prior to such Business Combination beneficially own, directly or indirectly, more than 50% of the combined voting power of the then outstanding
voting securities entitled to vote generally in the election of directors of the corporation resulting from such Business Combination
(including, without limitation, a corporation which as a result of such transaction owns the Company or all or substantially all of the
Company's assets either directly or through one or more subsidiaries) in substantially the same proportions as their ownership, immediately
prior to such Business Combination of the Outstanding Company Voting Securities, and (ii) no Person (excluding any corporation resulting
from such Business Combination or any employee benefit plan (or related trust) of the Company or such corporation resulting from such
Business Combination) beneficially owns, directly or indirectly, 20% or more of the combined voting power of the then outstanding voting
securities of such corporation except to the extent that such ownership existed prior to the Business Combination, and (iii) at least
a majority of the members of the board of directors of the corporation resulting from such Business Combination were members of the Incumbent
Board at the time of the execution of the initial agreement, or of the action of the Board, providing for such Business Combination; or

 

(iv)            approval
by the shareholders of the Company of a complete liquidation or dissolution of the Company.

 

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(d)            The
separation payments and benefits described in Sections 1(a) and 1(b), above, are conditioned upon Executive executing a Separation
and General Release Agreement at the time of termination, which releases and waives any and all claims against the Company and its affiliated
persons and companies, and is acceptable to the Company.

 

(e)            In
all other circumstances of separation, including if the Executive resigns, retires or is terminated for Cause, the Executive shall not
be entitled to receive any separation payments or benefits. For purposes of this Agreement, “Cause” shall mean the
Executive’s:

 

(i)            commission
of an act of fraud or dishonesty, the purpose or effect of which, in the CEO and/or Board’s sole determination, adversely affects
the Company;

 

(ii)            conviction
of a felony or a crime involving embezzlement, conversion of property or moral turpitude (whether by plea of nolo contendere or otherwise);

 

(iii)            engaging
in willful or reckless misconduct or gross negligence in connection with any property or activity of the Company, the purpose or effect
of which, in the CEO and/or Board’s sole determination, adversely affects the Company;

 

(iv)            material
breach of any of the Executive’s obligations as an employee or stockholder as set forth in the Company’s Information Security
Policies and Code of Business Conduct, the Confidentiality Agreement or any other agreement in effect between the Company and the Executive;
provided that, in the event such breach is susceptible to cure, the Executive has been given written notice by the CEO and/or Board of
such breach and 30 days from such notice fails to cure the breach; or

 

(v)            failure
or refusal to perform any material duty or responsibility under this Agreement or a determination that the Executive has breached his
fiduciary obligations to the Company; provided that, in the event such failure, refusal or breach is susceptible to cure, the Executive
has been given written notice by the CEO and/or Board of such failure, refusal or breach and 30 days from such notice fails to cure such
failure, refusal or breach.

 

2.            Notice.
The Executive will send all communications to the Company in writing, to: Executive Vice President of Human Resources, Citi Trends, Inc.,
104 Coleman Blvd., Savannah, Georgia 31408, Fax: (866) 231-8835. All communications from the Company to the Executive relating to this
Agreement shall be sent to the Executive in writing at his office and home address as reflected in the Company’s records.

 

3.            Amendment.
No provisions of this Agreement may be modified, waived, or discharged except by a written document signed by a duly authorized Company
officer and the Executive. A waiver of any conditions or provisions of this Agreement in a given instance shall not be deemed a waiver
of such conditions or provisions at any other time in the future.

 

4.            Choice
of Law and Venue. The validity, interpretation, construction, and performance of this Agreement shall be governed by the laws of the
State of Georgia (excluding any that mandate the use of another jurisdiction’s laws). Any action to enforce or for breach of this
Agreement shall be brought exclusively in the state or federal courts of the County of Chatham, City of Savannah.

 

    	 	3	 

     

    

 

5.            Successors.
This Agreement shall be binding upon, and shall inure to the benefit of, the Executive and Executive’s estate, but the Executive
may not assign or pledge this Agreement or any rights arising under it, except to the extent permitted under the terms of the benefit
plans in which Executive participates. Without the Executive’s consent, the Company may assign this Agreement to any affiliate or
to a successor to substantially all the business and assets of the Company.

 

6.            Counterparts.
This Agreement may be executed in one or more counterparts, each of which shall be deemed to be an original but all of which together
shall constitute the same instrument.

 

7.            Entire
Agreement. This Agreement and the Confidentiality Agreement between the parties constitute the entire agreement between the parties
and supersede any and all prior contracts, agreements, or understandings between the parties which may have been entered into by Company
and the Executive relating to the subject matter hereof (including, without limitation, the Prior Severance Agreement), except for the
Equity Agreements, which are to remain in full force and effect. This Agreement may not be amended or modified in any manner except by
an instrument in writing signed by both the Company and the Executive. The failure of either party to enforce at any time any of the provisions
of this Agreement shall in no way be construed to be a waiver of any such provision or the right of such party thereafter to enforce each
and every such provision. No waiver of any breach of this Agreement shall be held to be a waiver of any other or subsequent breach. All
remedies are cumulative, including the right of either party to seek equitable relief in addition to money damages.

 

8.            Employment
At-Will Relationship. Executive and the Company agree that nothing in this Agreement alters the at-will nature of Executive’s
employment relationship with the Company.

 

9.            Internal
Revenue Code Section 409A. Notwithstanding anything in this Agreement to the contrary, to the extent that any amount or benefit
that would constitute non-exempt “deferred compensation” for purposes of Section 409A of the Internal Revenue Code (“Section 409A”)
would otherwise be payable or distributable hereunder by reason of a Participant’s termination of employment, such amount or benefit
will not be payable or distributable to the Participant by reason of such circumstance unless the circumstances giving rise to such termination
of employment meet any description or definition of “separation from service” in Section 409A of the Code and applicable
regulations (without giving effect to any elective provisions that may be available under such definition). For purposes of Section 409A,
each installment payable under Section 1(a) and 1(b) of this Agreement shall be deemed to be a separate payment.

 

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IN WITNESS WHEREOF, the parties hereto have set
their hands as of the day and year set forth below.

 

	 	CITI TRENDS, INC.
	 	 
	 	By: 	/s/ David N. Makuen
	 	Name: 	David N. Makuen
	 	Title: 	Chief Executive Officer
	 	Dated: 	June 14, 2022

 

	 	By:	/s/ Heather L. Plutino
	 	Employee Name: Heather L. Plutino
	 	Dated: June 14,
2022

 

    	 	5

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