Document:

Fourth Amendment to Second Amended and Restated Credit Agreement

 Exhibit 10.1 
 Execution Version 
 FOURTH AMENDMENT 
 TO 
 SECOND AMENDED AND RESTATED

 CREDIT AGREEMENT 
 Dated as of April 15, 2009 
 AMONG 
 BILL BARRETT CORPORATION, 
 AS BORROWER, 

 THE GUARANTORS, 
 JPMORGAN CHASE BANK, N.A. 
 AS ADMINISTRATIVE AGENT, 
 AND 
 THE LENDERS
PARTY HERETO 

 FOURTH AMENDMENT TO SECOND AMENDED AND RESTATED CREDIT AGREEMENT 
 THIS FOURTH AMENDMENT TO SECOND AMENDED AND RESTATED CREDIT AGREEMENT (this “Fourth Amendment”) dated as of April 15, 2009
is among BILL BARRETT CORPORATION, a Delaware corporation (the “Borrower”), each of the undersigned guarantors (the “Guarantors”, and together with the Borrower, the “Obligors”)’ each of the
lenders party to the Credit Agreement referred to below (collectively, the “Lenders”), and JPMORGAN CHASE BANK, N.A., as administrative agent for the Lenders (in such capacity, together with its successors in such capacity, the
“Administrative Agent”). 
 R E C I T A L S 
 A. The Borrower, the Administrative Agent and the Lenders are parties to that certain Second Amended and Restated Credit Agreement dated as of
March 17, 2006 (as amended by the First Amendment to Second Amended and Restated Credit Agreement dated November 6, 2007, the Second Amendment to Second Amended and Restated Credit Agreement dated March 4, 2008, the Third Amendment to
Second Amended and Restated Credit Agreement dated October 20, 2008, and as further amended, restated, modified or supplemented, the “Credit Agreement”), pursuant to which the Lenders have made certain credit available to and
on behalf of the Borrower. 
 B. The Borrower has requested and the Administrative Agent and the Super-Majority Lenders have agreed to make
certain other changes to the Credit Agreement. 
 C. NOW, THEREFORE, to induce the Administrative Agent and the Lenders to enter into this
Fourth Amendment and in consideration of the premises and the mutual covenants herein contained, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 
 Section 1. Defined Terms. Each capitalized term used herein but not otherwise defined herein has the meaning given such term in the Credit Agreement, as amended
by this Fourth Amendment. Unless otherwise indicated, all section references in this Fourth Amendment refer to sections of the Credit Agreement. 
 Section
2. Amendments to Credit Agreement. 
 2.1 Amendments to Section 1.02. 
 (a) The following definition is hereby added where alphabetically appropriate to read as follows: 
 “Fourth Amendment” means that certain Fourth Amendment to Second Amended and Restated Credit Agreement, dated as of
April 15, 2009 among the Borrower, the Guarantors, the Administrative Agent and the Lenders party thereto. 

 (b) The following definitions are hereby amended by deleting such definitions in their
entirety and replacing them with the following definitions: 
 “Agreement” means this Second Amended and
Restated Credit Agreement, as amended by the First Amendment, the Second Amendment, the Third Amendment and the Fourth Amendment, including the Schedules and Exhibits hereto, as the same may be amended or supplemented from time to time. 

“Applicable Margin” means, for any day, with respect to any ABR Loan or Eurodollar Loan, the rate per annum set forth
in the Borrowing Base Utilization Grid below based upon the Borrowing Base Utilization Percentage then in effect: 
  

													
	 Borrowing Base
 Utilization Percentage
	  	£ 50%	 	 	> 50% £ 75%	 	 	> 75% £ 90%	 	 	> 90%	 
	 ABR Loans
	  	0.750	%	 	1.000	%	 	1.250	%	 	1.500	%
	 Eurodollar Loans
	  	1.750	%	 	2.000	%	 	2.250	%	 	2.500	%

 Each change in the Applicable Margin shall apply during the period commencing on the effective
date of such change and ending on the date immediately preceding the effective date of the next such change; provided, however, that if at any time the Borrower fails to deliver a Reserve Report pursuant to Section 8.12(a), then
the “Applicable Margin” means the rate per annum set forth on the applicable grid when the applicable Borrowing Base Utilization Percentage is at its highest level; provided further that the Applicable Margin shall revert to
the previous Applicable Margin upon the Borrower’s delivery of such Reserve Report. 
 “Defaulting
Lender” means any Lender, as reasonably determined by the Administrative Agent, that has (a) failed to fund any portion of its Loans or participations in Letters of Credit within three (3) Business Days of the date required to be
funded by it hereunder, (b) notified the Borrower, the Administrative Agent, the Issuing Bank or any Lender in writing that it does not intend to comply with any of its funding obligations under this Agreement or has made a public statement to
the effect that it does not intend to comply with its funding obligations under this Agreement, (c) failed, within three (3) Business Days after request by the Administrative Agent, to confirm that it will comply with the terms of this
Agreement relating to its obligations to fund prospective Loans and participations in then outstanding Letters of Credit; provided that any such Lender shall cease to be a Defaulting Lender under this clause (c) upon receipt of such
confirmation by the Administrative Agent; (d) otherwise failed to pay over to the Administrative Agent or any other Lender any other amount required to be paid by it hereunder within three (3) Business Days of the date when due, unless the
subject of a good faith dispute, or (e) become the subject of a bankruptcy or insolvency proceeding, or has had a receiver, conservator, trustee or custodian appointed for it, or has taken any action in furtherance of, or 

  

 2 

 
indicating its consent to, approval of or acquiescence in any such proceeding or appointment or has a parent company that has become the subject of a
bankruptcy or insolvency proceeding, or has had a receiver, conservator, trustee or custodian appointed for it, or has taken any action in furtherance of, or indicating its consent to, approval of or acquiescence in any such proceeding or
appointment; provided that a Lender shall not be a Defaulting Lender solely by virtue of the ownership or acquisition of any Equity Interest in such Lender or a parent company thereof by a Governmental Authority or an instrumentality thereof.

 2.2 Amendment to Section 2.08. The following Subsection (k) shall be added to the end of Section 2.08: 

(k) Defaulting Lenders. Notwithstanding any provision of this Agreement to the contrary, if any Lender becomes a Defaulting
Lender, then the following provisions shall apply for so long as such Lender is a Defaulting Lender: 
 (i) if any LC Exposure
exists at the time a Lender is a Defaulting Lender, then the Borrower shall within one Business Day following notice by the Administrative Agent cash collateralize such Defaulting Lender’s LC Exposure in accordance with the procedures set forth
in Section 2.08(j) for so long as such LC Exposure is outstanding; 
 (ii) if any Defaulting Lender’s LC Exposure is
not cash collateralized as required in Section 2.08(k)(i) above, then, without prejudice to any other rights or remedies of the Issuing Bank or any Lender hereunder, all letter of credit fees payable under Section 3.05(b) with respect to
such Defaulting Lender’s LC Exposure shall be payable to the Issuing Bank until such LC Exposure is cash collateralized; 
 (iii) so long as any Lender is a Defaulting Lender, the Issuing Bank shall not be required to issue, amend or increase any Letter of Credit, unless it is satisfied that cash collateral will be provided by the Borrower in accordance with
Section 2.08(k)(i) above; and 
 (iv) for the avoidance of doubt, the Borrower shall retain and reserve its other rights
and remedies respecting each Defaulting Lender. 
 Section 3. Borrowing Base. For the period from and including April 15, 2009 until the next
Redetermination Date, the Borrowing Base is $600,000,000. Notwithstanding the foregoing, the Borrowing Base may be subject to further adjustments from time to time pursuant to Section 2.07(e), Section 8.13(c), Section 9.12(d) or
Section 9.18. 
 Section 4. Conditions Precedent. This Fourth Amendment shall not become effective until the date on which each of the following
conditions is satisfied (or waived in accordance with Section 12.02 of the Credit Agreement): 
 4.1 The Administrative Agent shall have
received from the Super-Majority Lenders, counterparts (in such number as may be requested by the Administrative Agent) of this Fourth Amendment signed on behalf of such Person. 
  

 3 

 4.2 No Default or Event of Default shall have occurred and be continuing as of the date hereof, after
giving effect to the terms of this Fourth Amendment. 
 The Administrative Agent is hereby authorized and directed to declare this Fourth
Amendment to be effective when it has received documents confirming or certifying, to the satisfaction of the Administrative Agent, compliance with the conditions set forth in this Section 4 or the waiver of such conditions as permitted hereby.
Such declaration shall be final, conclusive and binding upon all parties to the Credit Agreement for all purposes. 
 Section 5. Miscellaneous.

 5.1 Confirmation. The provisions of the Credit Agreement, as amended by this Fourth Amendment, shall remain in full force and
effect following the effectiveness of this Fourth Amendment. 
 5.2 Ratification and Affirmation; Representations and Warranties. Each
Obligor hereby (a) acknowledges the terms of this Fourth Amendment; (b) ratifies and affirms its obligations under, and acknowledges, renews and extends its continued liability under, each Loan Document to which it is a party and agrees
that each Loan Document to which it is a party remains in full force and effect, except as expressly amended hereby, notwithstanding the amendments contained herein; and (c) represents and warrants to the Lenders that as of the date hereof,
after giving effect to the terms of this Fourth Amendment: (i) all of the representations and warranties contained in each Loan Document to which it is a party are true and correct, except to the extent any such representations and warranties
are expressly limited to an earlier date, in which case, such representations and warranties shall continue to be true and correct as of such specified earlier date, (ii) no Default or Event of Default has occurred and is continuing,
(iii) no event or events have occurred which individually or in the aggregate could reasonably be expected to have a Material Adverse Effect and (iv) the Mortgaged Properties represent at least 80% of the total value of the Oil and Gas
Properties evaluated in the most recently completed Reserve Report. 
 5.3 Counterparts. This Fourth Amendment may be executed by one
or more of the parties hereto in any number of separate counterparts, and all of such counterparts taken together shall be deemed to constitute one and the same instrument. Delivery of this Fourth Amendment by facsimile or electronic transmission in
portable document format (.pdf) shall be effective as delivery of a manually executed counterpart hereof. 
 5.4 NO ORAL AGREEMENT.
THIS FOURTH AMENDMENT, THE CREDIT AGREEMENT AND THE OTHER LOAN DOCUMENTS EXECUTED IN CONNECTION HEREWITH AND THEREWITH REPRESENT THE FINAL AGREEMENT BETWEEN THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR UNWRITTEN
ORAL AGREEMENTS OF THE PARTIES. THERE ARE NO SUBSEQUENT ORAL AGREEMENTS BETWEEN THE PARTIES. 
  

 4 

 5.5 GOVERNING LAW. THIS FOURTH AMENDMENT (INCLUDING, BUT NOT LIMITED TO, THE VALIDITY AND
ENFORCEABILITY HEREOF) SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. 
 5.6 Payment of
Expenses. In accordance with Section 12.03 of the Credit Agreement, the Borrower agrees to pay or reimburse the Administrative Agent for all of its reasonable out-of-pocket costs and reasonable expenses incurred in connection with this
Fourth Amendment, any other documents prepared in connection herewith and the transactions contemplated hereby, including, without limitation, the reasonable fees and disbursements of counsel to the Administrative Agent. 
 5.7 Severability. Any provision of this Fourth Amendment which is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction,
be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision
in any other jurisdiction. 
 5.8 Successors and Assigns. This Agreement shall be binding upon and inure to the benefit of the parties
hereto and their respective successors and assigns. 
 [SIGNATURES BEGIN NEXT PAGE] 
  

 5 

 IN WITNESS WHEREOF, the parties hereto have caused this Fourth Amendment to be duly executed as of the
date first written above. 
  

							
	BORROWER:	 		 	BILL BARRETT CORPORATION
				
		 		 	By:	 	/s/ Robert W. Howard
		 		 	Name:	 	Robert W. Howard
		 		 	Title:	 	Chief Financial Officer
			
	GUARANTORS:	 		 	CIRCLE B LAND COMPANY LLC
				
		 		 	By:	 	/s/ Robert W. Howard
		 		 	Name:	 	Robert W. Howard
		 		 	Title:	 	Chief Financial Officer
			
		 		 	BILL BARRETT CBM CORPORATION
				
		 		 	By:	 	/s/ Robert W. Howard
		 		 	Name:	 	Robert W. Howard
		 		 	Title:	 	Chief Financial Officer
			
		 		 	BILL BARRETT CBM, LLC
				
		 		 	By:	 	BILL BARRETT CBM CORPORATION, as manager
				
		 		 	By:	 	/s/ Robert W. Howard
		 		 	Name:	 	Robert W. Howard
		 		 	Title:	 	Chief Financial Officer

  

 SIGNATURE PAGE TO FOURTH
AMENDMENT TO 
 SECOND AMENDED AND RESTATED
CREDIT AGREEMENT 
 S-1 

			
	 JPMORGAN CHASE BANK, N.A., as
 Administrative
Agent and Lender

		
	By:	 	/s/ Ryan Fuessel
	Name:	 	Ryan Fuessel
	Title:	 	Senior Vice President

  

 SIGNATURE PAGE TO FOURTH
AMENDMENT TO 
 SECOND AMENDED AND RESTATED
CREDIT AGREEMENT 
 S-2 

			
	BANK OF AMERICA, N.A., as a Lender
		
	By:	 	/s/ Stephen J. Hoffman
	Name:	 	Stephen J. Hoffman
	Title:	 	Managing Director

  

 SIGNATURE PAGE TO FOURTH
AMENDMENT TO 
 SECOND AMENDED AND RESTATED
CREDIT AGREEMENT 
 S-3 

			
	 DEUTSCHE BANK TRUST COMPANY
 AMERICAS, as a
Lender

		
	By:	 	/s/ Dusan Lazaroy
	Name:	 	Dusan Lazaroy
	Title:	 	Vice President
		
	By:	 	/s/ Michael M. Meagher
	Name:	 	Michael M. Meagher
	Title:	 	Vice President

  

 SIGNATURE PAGE TO FOURTH
AMENDMENT TO 
 SECOND AMENDED AND RESTATED
CREDIT AGREEMENT 
 S-4 

			
	 U.S. BANK NATIONAL ASSOCIATION,
 as a Lender

		
	By:	 	/s/ Daria Mahoney
	Name:	 	Daria Mahoney
	Title:	 	Vice President

  

 SIGNATURE PAGE TO FOURTH
AMENDMENT TO 
 SECOND AMENDED AND RESTATED
CREDIT AGREEMENT 
 S-5 

			
	 BMO CAPITAL MARKETS FINANCING, INC.
 f/k/a
Harris Nesbitt Financing, Inc., as a Lender

		
	By:	 	/s/ Gumaro Tijerina
	Name:	 	Gumaro Tijerina
	Title:	 	Director

  

 SIGNATURE PAGE TO FOURTH
AMENDMENT TO 
 SECOND AMENDED AND RESTATED
CREDIT AGREEMENT 
 S-6 

			
	BARCLAYS BANK plc, as a Lender
		
	By:	 	/s/ Maria Lund
	Name:	 	Maria Lund
	Title:	 	Vice President

  

 SIGNATURE PAGE TO FOURTH
AMENDMENT TO 
 SECOND AMENDED AND RESTATED
CREDIT AGREEMENT 
 S-7 

			
	FORTIS CAPITAL CORP., as a Lender
		
	By:	 	/s/ David Montgomery
	Name:	 	David Montgomery
	Title:	 	Director
		
	By:	 	/s/ Ilene Fowler
	Name:	 	Ilene Fowler
	Title:	 	Director

  

 SIGNATURE PAGE TO FOURTH
AMENDMENT TO 
 SECOND AMENDED AND RESTATED
CREDIT AGREEMENT 
 S-8 

			
	WELLS FARGO BANK, N.A., as a Lender
		
	By:	 	/s/ Oleg Kogan
	Name:	 	Oleg Kogan
	Title:	 	Vice President

  

 SIGNATURE PAGE TO FOURTH
AMENDMENT TO 
 SECOND AMENDED AND RESTATED
CREDIT AGREEMENT 
 S-9 

			
	BANK OF SCOTLAND plc, as a Lender
		
	By:	 	 
	Name:	 	
	Title:	 	

  

 SIGNATURE PAGE TO FOURTH
AMENDMENT TO 
 SECOND AMENDED AND RESTATED
CREDIT AGREEMENT 
 S-10 

			
	 GE BUSINESS FINANCIAL SERVICES INC.
 FKA
MERRILL LYNCH BUSINESS FINANCIAL SERVICES INC., as a Lender

		
	By:	 	/s/ Brian P. Ward
	Name:	 	Brian P. Ward
	Title:	 	Vice President

  

 SIGNATURE PAGE TO FOURTH
AMENDMENT TO 
 SECOND AMENDED AND RESTATED
CREDIT AGREEMENT 
 S-11 

			
	SUNTRUST BANK, as a Lender
		
	By:	 	/s/ David Simpson
	Name:	 	David Simpson
	Title:	 	Vice President

  

 SIGNATURE PAGE TO FOURTH
AMENDMENT TO 
 SECOND AMENDED AND RESTATED
CREDIT AGREEMENT 
 S-12 

			
	UNION BANK, N.A. (formerly known as UNION BANK OF CALIFORNIA, N.A., as a Lender)
		
	By:	 	/s/ Whitney Randolph
	Name:	 	Whitney Randolph
	Title:	 	Vice President

  

 SIGNATURE PAGE TO FOURTH
AMENDMENT TO 
 SECOND AMENDED AND RESTATED
CREDIT AGREEMENT 
 S-13 

			
	COMPASS BANK, as a Lender
		
	By:	 	/s/ Greg Determann
	Name:	 	Greg Determann
	Title:	 	Vice President

  

 SIGNATURE PAGE TO FOURTH
AMENDMENT TO 
 SECOND AMENDED AND RESTATED
CREDIT AGREEMENT 
 S-14 

			
	COMERICA BANK, as a Lender
		
	By:	 	/s/ Matt Turner
	Name:	 	Matt Turner
	Title:	 	Corporate Banking Officer

  

 SIGNATURE PAGE TO FOURTH
AMENDMENT TO 
 SECOND AMENDED AND RESTATED
CREDIT AGREEMENT 
 S-15 

			
	CREDIT SUISSE, CAYMAN ISLANDS BRANCH as a Lender
		
	By:	 	/s/ Nupur Kumar
	Name:	 	Nupur Kumar
	Title:	 	Vice President
		
	By:	 	/s/ Shaheen Malik
	Name:	 	Shaheen Malik
	Title:	 	Vice President

  

 SIGNATURE PAGE TO FOURTH
AMENDMENT TO 
 SECOND AMENDED AND RESTATED
CREDIT AGREEMENT 
 S-16 

			
	GUARANTY BANK AND TRUST COMPANY, as a Lender
		
	By:	 	/s/ Gail J. Nofsinger
	Name:	 	Gail J. Nofsinger
	Title:	 	Senior Vice President

  

 SIGNATURE PAGE TO FOURTH
AMENDMENT TO 
 SECOND AMENDED AND RESTATED
CREDIT AGREEMENT 
 S-17 

			
	GOLDMAN SACHS CREDIT PARTNERS L.P., as a Lender
		
	By:	 	/s/ Andrew Caditz
	Name:	 	Andrew Caditz
	Title:	 	Authorized Signatory

  

 SIGNATURE PAGE TO FOURTH
AMENDMENT TO 
 SECOND AMENDED AND RESTATED
CREDIT AGREEMENT 
 S-18Amendment to Employment Agreement

 Exhibit 10.19 
 December 2008 Amendment to Employment Agreement 
 (IRC 409A Compliant) 
 This December 2008 Amendment (the “Amendment”) is made as of, and is effective, this 31st day of December, 2008, by and between Stein Mart, Inc., a
Florida corporation and its divisions, subsidiaries and affiliates (the “Company”), and James G. Delfs (“Executive”). 
 Background 
 The following facts are the background for this Amendment: 
  

	 	A.	The parties hereto entered into an employment agreement (the “Existing Agreement”) dated as of July 1, 2008. 

  

	 	B.	The parties wish to amend the Existing Agreement as provided in this Amendment. 

 NOW THEREFORE, In consideration of the promises and mutual covenants contained herein, the parties, intending to be legally bound, agree that the Background Facts are true and correct and further agree as set forth
below. (All defined terms not defined in this Amendment shall have the meaning ascribed to them in the Existing Agreement). 
 1. Change
of Control. The definition of “Change of Control” in the Existing Agreement is hereby deleted and the following is substituted in lieu thereof: 
 “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 July 1, 2008 or (ii) whose election or nomination 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. 

 2. Code. A new definition is added to read as follow: 
 “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. 
 3. Continuation Period. The definition of
“Continuation Period” in the Existing Agreement is hereby amended by deleting the last paragraph thereof. 
 4. Disability.
The definition of “Disability” in the Existing Agreement is hereby deleted and the following is substituted in lieu thereof: 
 “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. 
 5.
Section 409A Adverse Treatment. The definition of “Section 409A Adverse Treatment” in the Existing Agreement is hereby deleted in its entirety. 
 6. Termination Date. A new definition of “Termination Date” is added to read as follows: 
 “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 death or last for a 

  

 2 

 
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. 
 7. Termination of Employment. Section 5 is hereby modified to read in its entirety as follows: 
 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 salary for twelve (12) consecutive months 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
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. 
 (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 

  

 3 

 
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 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. 
 (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; 
  

 4 

 (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 
 (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 
  

 5 

 (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 (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. 
  

 6 

 (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. 
  

 7 

 8. Ratification. Except as expressly modified as provided in this Amendment, the Existing
Agreement is hereby ratified and confirmed. 
 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/ James G. Delfs

	Name:	 	D. Hunt Hawkins	 		 	James G. Delfs
	Title:	 	EVP, Chief Administrative Officer	 		 	

  

 8

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00157-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00157-of-00352.parquet"}]]