Document:

EX-10.6

 Exhibit 10.6 
 AMENDED AND RESTATED EMPLOYMENT AGREEMENT 
 THIS AMENDED AND RESTATED EMPLOYMENT
AGREEMENT (this “Agreement”) is dated as of March 24, 2016 by and between Banc of California, Inc., a Maryland corporation (the “Company” and, together with its subsidiaries and affiliates, including Banc of
California, N.A. (the “Bank”), “Employer”), and Thedora Nickel (“Employee”). 

WHEREAS, Employer and Employee are parties to that certain Employment Agreement dated effective as of November 1, 2015 pursuant to
which Employee became employed, initially, as Executive Vice President of the Company and the Bank (the “Prior Agreement”); 
 WHEREAS, Employee was thereafter appointed to serve as the Chief Administrative Officer of the Company and the Bank, effective as of February 23, 2016; and 

WHEREAS, Employer now desires to employ Employee, and Employee now desires to be employed by Employer, upon the terms and subject to the
conditions set forth herein, which terms and conditions shall supersede and replace the Prior Agreement effective as of the Commencement Date, as defined below. 
 NOW, THEREFORE, in consideration of the premises and mutual covenants herein contained, the parties hereby agree as follows: 
 1. Employment. Employer hereby agrees to employ Employee, and Employee hereby accepts employment with Employer upon the terms and conditions herein set forth. 

2. Term. The term of employment under this Agreement shall begin on April 1, 2016 (the “Commencement Date”)
and shall expire on April 1, 2018 (the “Term End Date”), unless terminated sooner as hereinafter provided or unless extended as provided in the next sentence. Commencing on the Term End Date, and on each annual anniversary of
such date (such date and each annual anniversary thereof, the “Renewal Date”), unless previously terminated, the term of this Agreement shall be extended for one additional year, unless either party notifies the other party at least
ninety (90) days prior to the applicable Renewal Date that the term shall not be so extended. Reference herein to the term hereunder shall refer to both the initial term and any extended term hereunder. 

3. Duties. During the term of this Agreement: 
  

	 	(a)	Employee shall be employed by Employer on a full-time basis as Executive Vice President with such authority, duties and responsibilities as reasonably may be assigned
to Employee by Employer from time to time, which shall initially consist of the position as Chief Administrative Officer reporting directly to the Chief Executive Officer of the Company, and shall perform such other duties and responsibilities on
behalf of Employer and its affiliates as reasonably may be directed by the Board of Directors of the Company (the “Board”); and 

	 	(b)	Employee shall devote her full business time, energy, and skill to the business of Employer and to the promotion of Employer’s best interests, except for vacations
and absences made necessary because of illness. 

 4. Compensation. During the term of this Agreement:

  

	 	(a)	Employee shall be paid a base salary at the rate of $300,000.00 per annum (“Annual Base Salary”), payable in accordance with Employer’s normal
payroll practices (but not less frequently than monthly), as such practices may be determined from time to time, and subject to customary tax withholdings. The Compensation Committee of the Board (the “Committee”) will review the
Annual Base Salary at least annually and, in its discretion, may increase such salary. 

  

	 	(b)	Employee shall be eligible to receive an annual bonus, determined in the sole discretion of the Committee (“Annual Bonus”), with respect to each fiscal
year during the term, with an annual target bonus equal to 50% of the Annual Base Salary in effect as of the beginning of such fiscal year (the “Target Bonus”); provided, however, that the actual Annual Bonus may be
higher or lower than the Target Bonus and shall be prorated for any partial year. 

  

	 	(c)	Employee shall be eligible for additional or special compensation, such as equity awards, incentive pay or bonuses, based upon Employee’s performance as the
Committee may in its discretion from time to time determine. Any amounts payable under this Section 4(c) that constitute “nonqualified deferred compensation” within the meaning of Section 409A (as defined in Section 14(a))
shall be subject to such terms or conditions that satisfy the applicable requirements of Section 409A. 

 All
such payments, and any other compensation provided by Employer to Employee, whether under this Agreement or otherwise, will be subject to such deductions and clawback (recovery) as may be required to be made pursuant to law, government regulation,
order, stock exchange listing requirement (or any policy of Employer adopted pursuant to any such law, government regulation, order or stock exchange listing requirement) or by agreement with, or consent of, Employee. 

5. Automobile and Other Expenses. During the term of this Agreement, Employer shall lease and allow Employee use of, one
(1) new-condition Chevy Volt or such other automobile as determined in the discretion of the Company (the “Automobile”). Employee shall be solely responsible for all fuel, maintenance and other similar charges associated with
Employee’s personal non-business use of the Automobile. Employee shall obtain and constantly maintain in good standing, at Employer’s expense, a comprehensive automobile liability policy in a form reasonably acceptable to Employer (the
“Policy”). Employee shall cause the insurance provider of the Policy to list Employer as an additional insured and Employee shall provide Employer with a certificate evidencing the Policy. Any damage or liability caused or
associated with Employee’s use of the Automobile shall be the sole responsibility of Employee. At the 

  
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conclusion of the term of this Agreement or the expiration of the lease of the Automobile, whichever occurs first, Employee shall promptly return the Automobile to Employer in good condition,
normal wear and tear excepted. Employee shall be reimbursed for other expenses incurred in connection with Employer’s business in accordance with Employer’s expense reimbursement policy for senior executives. 

6. Benefits. Employee shall be entitled to participate in such life insurance, medical, dental, pension, supplemental disability,
retirement plans and other programs as may be approved from time to time by Employer for the benefit of its executive employees. 
 7. Flexible Time Off. Employee shall be entitled to take off as much time as needed or as appropriate (“FTO”), consistent with her professional responsibilities and business needs;
provided that Employee is meeting her work responsibilities; and provided, further, that he is demonstrating a level of commitment and conscientiousness that is sufficient to satisfy her professional responsibilities to
Employer. Employee will receive her usual base salary during approved FTO unless Employee is on an extended leave that is unpaid pursuant to Employer’s employee handbook or applicable law (e.g., FMLA, CFRA or other extended leave). Because FTO
is not an accrued benefit, Employee will not be eligible for a payout of FTO at the time of separation from Employer, regardless of the reason for the separation. 
 8. Termination. 
  

	 	(a)	Employee’s employment with Employer shall automatically be terminated (i) by reason of Employee’s death or (ii) by reason of Employee’s
becoming permanently disabled for purposes of Employer’s long-term disability program. 

  

	 	(b)	Employer may terminate Employee’s employment hereunder for any reason, with or without Cause, at any time upon notice to Employee, but any termination by Employer
other than termination with Cause shall not prejudice Employee’s right to compensation or other benefits under this Agreement. 

  

	 	(c)	 Employee may terminate her employment hereunder without Good Reason at any time upon sixty (60) days’ prior written notice to Employer. Given
the importance of Employee’s position with Employer, Employee’s access to and use of confidential information, and the irreparable harm that Employee’s departure would likely cause to Employer, its customer relationships, and its
business opportunities, Employee agrees that, during the period (the “Notice Period”) commencing on the date on which Employer receives notice of Employee’s termination of her employment without Good Reason (the “Notice
Date”) and ending on the earlier of (i) sixty (60) days following the Notice Date and (ii) such earlier date as designated by Employer (the “Separation Date”), Employee shall remain an employee of Employer
and shall not be free to begin an employment relationship with another entity, absent Employer’s authorized written consent. During the Notice Period, Employer shall continue to pay

  
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Employee a base salary in accordance with its regular salary practices and Employee shall be entitled to participate in Employer’s benefit plans to the extent permitted by such plans and
applicable law. During the Notice Period, Employer reserves the right to (A) change or remove any of Employee’s duties, (B) require Employee to remain away from Employer’s premises, and/or (C) take such other action as
determined by Employer to aid and assist in the transition process associated with Employee’s departure. During the Notice Period, Employee shall continue to act in a manner consistent with this Agreement and her duty of loyalty to Employer.
Employer may waive or terminate the Notice Period at any time and for any reason or for no reason, in which case the Separation Date shall be the date on which Employer notifies Employee of such waiver or termination. 

 

	 	(d)	Employee may terminate her employment with Good Reason within ninety (90) days following the occurrence of any condition constituting Good Reason; provided
that (i) Employee has first provided notice to Employer specifying in reasonable detail the condition giving rise to the Good Reason, (ii) Employee has provided Employer with a period of thirty (30) days to remedy the condition (and
the notice so specifies), and (iii) Employer has failed to remedy the condition within this thirty (30)-day period. 

  

	 	(e)	Employer and Employee may terminate Employee’s employment with Employer pursuant to Section 2. 

9. Severance Benefits. 
  

	 	(a)	In the event of the termination of Employee’s employment, for any reason, Employee shall be entitled to any Accrued Obligations. 

 

	 	(b)	In the event that Employer terminates Employee’s employment without Cause or Employee resigns with Good Reason, subject to Section 9(c) and Employee’s
compliance with Sections 10, 11, and 12, Employee shall be entitled to severance pay in an amount equal to the Annual Base Salary in effect on the Commencement Date multiplied by the number of years or partial years remaining prior to the Term
End Date (as it may be extended pursuant to Section 2), payable in twenty-four (24) equal monthly installments commencing on the first business day coincident with or next following the sixtieth (60th) calendar date following
Employee’s termination of employment. If Employee dies during such twenty-four (24)-month period, all remaining eligible benefits under this section shall be paid to Employee’s designated beneficiary (or if no beneficiary has been
designated, then to Employee’s estate). 

  

	 	(c)	 Any severance pay to be paid pursuant to Section 9(b) is subject to and conditioned upon Employee signing and delivering (and not revoking) to

  
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Employer a general release and waiver (in a form reasonably acceptable to Employer), waiving all claims Employee may have against Employer, its parents, subsidiaries, successors, assigns,
affiliates, and their respective executives, officers and directors relating to Employee’s employment with Employer. 

  

	 	(d)	Notwithstanding any other provision of this Agreement to the contrary, if payments under this Agreement, together with any other payments received or to be received by
Employee in connection with a “change in control” (for purposes of Section 280G of the Internal Revenue Code of 1986, as amended (the “Code”)) would cause any amount payable to Employee to be nondeductible for federal
income tax purposes pursuant to Section 280G of the Code, then the payments and benefits under this Agreement shall be reduced (but not to an amount less than zero) to the extent necessary so as to maximize payments to Employee without causing
any amount to become nondeductible. Employee shall determine the allocation of such reduction among payments to Employee. 

  

	 	(e)	Notwithstanding any other provision of this Agreement to the contrary, any payments made to Employee pursuant to this Agreement, or otherwise, are subject to and
conditioned upon their compliance with 12 U.S.C. § 1828(k) and any regulations promulgated thereunder, including 12 C.F.R. Part 359. 

  

	 	(f)	For purposes of this Agreement: 

  

	 	(A)	“Accrued Obligations” means (i) any base salary that Employee has earned but not been paid during or prior to Employee’s termination of
employment, (ii) any business expenses that are reimbursable under Section 5 that were incurred by Employee as of Employee’s termination of employment but have not been reimbursed on the date of termination, subject to the submission
of any required substantiation and documentation, and (iii) any payments or benefits to which Employee or her beneficiary or estate is entitled under the terms of any applicable employee benefit plan. 

 

	 	(B)	 “Cause” means Employee’s personal dishonesty, incompetence, willful misconduct, breach of a fiduciary duty involving personal
profit, intentional failure to perform stated duties, willful violation of any law, rule or regulation (other than traffic violations or similar offenses) or final cease-and-desist order, or material breach of any provision of this Agreement.
Employee shall not be deemed to have been terminated with Cause unless and until there shall have been delivered to Employee a copy of a resolution, duly adopted by the affirmative vote of not less than a majority of the entire membership of the
Board at a meeting or meetings of the 

  
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Board called and held for such purpose (after reasonable notice to Employee and an opportunity for Employee, together with Employee’s counsel, to be heard before the Board), stating that in
the good faith opinion of the Board, Employee has engaged in conduct described in the preceding sentence and specifying the particulars thereof in detail. For purposes of this section, the term “incompetence” shall mean inability, as
determined by the Board in its reasonable judgment, to perform stated duties. 

  

	 	(C)	“Good Reason” means the occurrence of any of the following without Employee’s express written consent: 

 

	 	(1)	assignment to Employee of a title other than Executive Vice President; 

  

	 	(2)	unless required by regulatory authorities, reduction of the Annual Base Salary of Employee; 

 

	 	(3)	a material breach this Agreement by Employer; or 

  

	 	(4)	a requirement that Employee relocate her principal business office outside of the Los Angeles-Orange County metropolitan areas. 

10. Nonsolicitation. 
  

	 	(a)	Unless otherwise agreed in writing, during the term of this Agreement, and for a period of twenty-four (24) months following a termination of Employee’s
employment with Employer entitling Employee to severance pay under Section 9(b), Employee shall not induce or attempt to induce any individual or entity who was an employee, agent or independent contractor of Employer or any of its affiliates
during the period of Employee’s employment hereunder to discontinue providing services to Employer or any of its affiliates. 

  

	 	(b)	Unless otherwise agreed in writing, during the term of this Agreement, and for a period of twenty-four (24) months following a termination of Employee’s
employment with Employer entitling Employee to severance pay under Section 9(b), Employee shall not, and will not assist any other person to (i) hire or solicit for hiring any employee of Employer or any of its affiliates or seek to
persuade any employee of Employer or any of its affiliates to discontinue employment or (ii) solicit or encourage any independent contractor providing services to Employer or any of its affiliates to terminate or diminish its relationship with
them. 

 11. Nondisclosure of Confidential Information. Employee acknowledges that Employer and its
affiliates may disclose confidential information to Employee during the term of this Agreement to enable him to perform her duties hereunder. Employee hereby covenants and 

  
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agrees that, except as required by law, regulatory directive or judicial order, he will not, without the prior written consent of Employer, during the term of this Agreement or at any time
thereafter, disclose or permit to be disclosed to any third party by any method whatsoever any of the confidential information of Employer or any of its affiliates. For purposes of this Agreement, “confidential information” shall
include, but not be limited to, any and all records, notes, memoranda, data, ideas, processes, methods, techniques, systems, formulas, patents, models, devices, programs, computer software, writings, research, personnel information, customer
information, financial information of Employer or any of its affiliates, plans, or any other information of whatever nature in the possession or control of Employer which has not been published or disclosed to the general public, or which gives to
Employer or any of its affiliates an opportunity to obtain an advantage over competitors who do not know of or use it. Employee further agrees that if her employment hereunder is terminated for any reason, he will leave with Employer and will not
take originals or copies of any and all records, papers, programs, computer software and documents and all matter of whatever nature containing secret or confidential information of Employer or any of its affiliates. The foregoing covenants will not
prohibit Employee from disclosing confidential or other information to other employees of Employer or to third parties to the extent that such disclosure is necessary to the performance of her duties under this Agreement. 

12. Intellectual Property. Employee agrees promptly to reduce to writing and to disclose and assign, and hereby does assign, to
Employer, its subsidiaries, successors, assigns and nominees, all inventions, discoveries, improvements, copyrightable material, trademarks, programs, computer software and ideas concerning the same, capable of use in connection with the business of
Employer or any of its affiliates, which Employee may make or conceive, either solely or jointly with others, during the period of her employment by Employer, its subsidiaries or successors. Employee agrees, at Employer’s expense, that upon a
request by Employer, to execute, acknowledge and deliver to Employer all such papers, including applications for patents, applications for copyright and trademark registrations, and assignments thereof, as may be necessary, and at all times to
assist Employer, its parent, subsidiaries, successors, assigns and nominees in every proper way to patent or register said programs, computer software, ideas, inventions, discoveries, improvements, copyrightable material or trademarks in any and all
countries and to vest title thereto in Employer, its parent, subsidiaries, successors, assigns or nominees. Upon a request by Employer, Employee will promptly report to Employer all discoveries, inventions or improvements of whatsoever nature
conceived or made by him at any time he was employed by Employer, its parent, subsidiaries or successors. All such discoveries, inventions and improvements which are applicable in any way to Employer’s business shall be the sole and exclusive
property of Employer. 
 13. Additional Remedies. Employee recognizes that her services hereunder are of a personal,
special, unique and extraordinary character and irreparable injury will result to Employer and to its business and properties in the event of any breach by Employee of any of the provisions of Sections 10, 11 or 12, and that Employee’s
continued employment is predicated on the commitments undertaken by him pursuant to such Sections. In the event of any breach of any of Employee’s commitments pursuant to Sections 10, 11 and 12, Employer shall be entitled, in addition to
any other remedies and damages available, to injunctive relief to restrain the violation of such commitments by Employee or by any person or persons acting for or with Employee in any capacity whatsoever. 

  
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 14. Section 409A. 

 

	 	(a)	Notwithstanding anything to the contrary in this Agreement, if at the time of Employee’s termination of employment, Employee is a “specified employee”
within the meaning of Section 409A of the Code and the regulations and guidance of general applicability issued thereunder (“Section 409A”), any and all amounts payable under Section 9(b) that constitute
“nonqualified deferred compensation” under Section 409A and would (but for this provision) be payable within six (6) months following the date of termination, shall instead be paid on the next business day following the
expiration of such six (6)-month period or, if earlier, upon Employee’s death, in each case, with interest from the date on which payment would otherwise have been made, calculated at the applicable federal rate provided under
Section 7872(f)(2)(A) of the Code. If Employee receives compensation under Section 9 that can in part be treated as paid under a “separation pay plan” described in Treasury Regulations Section 1.409A-1(b)(9), then, to the
extent permitted under Section 409A, such compensation shall be treated as first made from the separation pay plan. 

  

	 	(b)	For purposes of Section 9, all references to “termination of employment” and correlative phrases shall be construed to require a “separation from
service” (as defined in Treasury Regulations Section 1.409A-1(h) after giving effect to the presumptions contained therein). 

  

	 	(c)	Each payment made under this Agreement shall be treated as a separate payment and the right to a series of installment payments under this Agreement shall be treated as
a right to a series of separate payments. 

  

	 	(d)	Any amount that Employee is entitled to be reimbursed or to have paid on her behalf under this Agreement that would constitute nonqualified deferred compensation
subject to Section 409A shall be subject to the following additional rules: (i) no reimbursement of any such expense shall affect Employee’s right to reimbursement of any such expense in any other taxable year; (ii) reimbursement
of the expense shall be made, if at all, promptly, but not later than the end of the calendar year following the calendar year in which the expense was incurred; and (iii) the right to reimbursement shall not be subject to liquidation or
exchange for any other benefit. 

 15. Adjustments to Comply with Final Interagency Guidance on Sound Incentive
Compensation Policies. Notwithstanding anything herein to the contrary, the compensation or benefits provided under this Agreement are subject to modification, as necessary to comply with requirements imposed by the Company’s Board of
Directors to comply with the “Final Interagency Guidance on Sound Incentive Compensation Policies” issued on an interagency basis by the Federal Reserve System, the Office of the Comptroller of the Currency, the Federal Deposit Insurance
Corporation and the Office of Thrift Supervision, effective June 25, 2010, or 

  
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any amendment, modification or supplement thereto, which shall be deemed to include, without limitation, any rules adopted pursuant to Section 956 of the Dodd-Frank Wall Street Reform and
Consumer Protection Act. 
 16. Provisions Required By Law. Notwithstanding anything herein to the contrary, any
provisions that are now or are in the future required by applicable law, rule, regulation or regulatory guidance or policy of general applicability to be included in this Agreement that are not expressly stated herein (including, without limitation,
any provisions so required under 12 C.F.R. Section 163.39) shall be deemed to be a part of this Agreement as fully as if such provisions were expressly stated herein. 
 17. No Duplication of Employer Obligations. With respect to any payments or other compensation to be provided hereunder by Employer, the provision of such payments or other compensation by any
subsidiary or affiliate of the Company shall be deemed to reduce, to the same extent, the obligation of the Company to provide such payments or other compensation, and vice versa. 

18. Assignment; Benefit. No party shall have the right to assign this Agreement or any rights or obligations hereunder without the
consent of the other party; provided, however, that Employer may assign its rights and obligations hereunder (i) to any entity controlled by, under the control of, or under common control with, Employer (as long as such entity is
no less capable of fulfilling the obligations of Employer hereunder), or (ii) to any successor to Employer upon any liquidation, dissolution or winding up of Employer, upon any merger or consolidation of Employer or upon any sale of all or
substantially all of the assets of Employer (as long as such successor is capable of fulfilling the obligations of Employer hereunder). 
 19. Waiver. Failure of any party hereto at any time to require performance by any other party of any provision of this Agreement shall in no way affect the rights of such first party to require
performance of that provision, and any waiver by any party hereto of any provision of this Agreement shall not be construed as a waiver of any continuing or succeeding breach of such provision, a waiver of the provision itself, or a waiver of any
rights under this Agreement. 
 20. Severability. If any clause, phrase, provision or portion of this Agreement or the
application thereof to any person or circumstance shall be invalid or unenforceable under any applicable law, such event shall not affect or render invalid or unenforceable the remainder of this Agreement and shall not affect the application of any
clause, provision or portion hereof to other persons or circumstances. 
 21. Benefits. The provisions of this Agreement
shall inure to the benefit of Employer, its successors and assigns, and shall be binding upon Employer and Employee, its and her heirs, personal representatives and successors, including, without limitation, Employee’s estate and the executors,
administrators or trustees of such estate. 
 22. Governing Law. To the extent not governed by the federal laws of the
United States of America, this Agreement shall be construed and enforced in accordance with the laws of the State of California. Any dispute between the parties hereto not relating to the enforcement of Section 10, 11 or 12 shall be settled by
arbitration in California in accordance with the then 

  
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applicable rules of the American Arbitration Association and judgment upon the award rendered may be entered in any court having jurisdiction thereof. 

23. Notices. All notices, requests, demands and other communications in connection with this Agreement shall be made in writing
and shall be deemed to have been given when delivered by hand or two (2) business days after mailing at any general or branch United States Post Office, by registered or certified mail postage prepaid, addressed as follows, or to such other
address as shall have been designated in writing by the addressee: 
 If to Employer: 

Banc of California, Inc. 
 18500 Von Karman, Suite 1100 
 Irvine, California 92612 

Attention: General Counsel 
 If to Employee: 
 At Employee’s last address in the records of Employer.

 24. Entire Agreement. This Agreement sets forth the entire understanding of the parties and supersedes all prior
agreements, arrangements, and communications, whether oral or written, pertaining to the subject matter hereof (including, without limitation, the Offer Letter, dated as of July 28, 2015, by and between Employer and Employee), and this
Agreement shall not be modified or amended except by written agreement of Employer and Employee. 
 25. Captions. The
headings and captions hereof are for convenience only and shall not affect the construction of this Agreement. 
 26.
Counterparts. This Agreement may be executed in multiple counterparts, each of which shall be deemed an original and all of which shall constitute but one and the same instrument. 

27. Construction. Employer and Employee acknowledge that this Agreement was the result of arms-length negotiations between
sophisticated parties, each represented by legal counsel. Each and every provision of this Agreement shall be construed as though both parties participated equally in the drafting of same, and any rule of construction that a document shall be
construed against the drafting party shall not be applicable to this Agreement. 
 28. Survival. The obligations
contained in this Agreement shall survive the termination of Employee’s employment with Employer or expiration of this Agreement as necessary to carry out the intentions of the parties as described herein. 

[Signature Page Follows] 

  
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 IN WITNESS WHEREOF, the parties hereto have executed this Agreement on the date first set
forth above. 
  

			
	BANC OF CALIFORNIA, INC.
		
	By:	 	 /s/ Steven A. Sugarman

	Name:	 	Steven A. Sugarman
	Title:	 	Chairman, President and Chief Executive Officer
	
	EMPLOYEE
	
	 /s/ Thedora Nickel

	Thedora Nickel

  
 [Signature
Page to Nickel Employment Agreement]EX-10.1

 Exhibit 10.1 

SEPARATION AGREEMENT AND RELEASE 

This Separation Agreement and Release (the “Agreement”) is made effective as of the Effective Date (defined below), by and
between Julia P. Gregory (“Executive”) and ContraFect Corporation, a Delaware corporation (the “Company”). Except as set forth in this Agreement, capitalized terms used but not defined herein shall have the meanings
ascribed to them in the Employment Agreement, dated as of April 29, 2014, between Executive and the Company, amended as of August 10, 2015 (collectively the “Employment Agreement”). 

WHEREAS, Executive’s employment with the Company ended as of the close of business on March 21, 2016 (such date and time, the
“Separation Date”); and 
 WHEREAS, in connection with Executive’s separation, Executive and the Company desire
to enter into this Agreement upon the terms set forth herein. 
 NOW, THEREFORE, in exchange for the good and valuable
consideration set forth herein, the adequacy of which is specifically acknowledged, Executive and the Company (collectively referred to as the “parties” or individually as a “party”) hereby agree as follows: 

1. Termination. Effective as of the Separation Date, Executive’s employment with the Company terminated and Executive ceased to
serve in or hold any director, employee or officer role or any other position with the Company or any of its affiliates (except for the consulting relationship described in this Section 1) and Executive ceased to exercise or convey any
authority (actual, apparent, or otherwise) on behalf of the Company or any of its affiliates. During the period commencing on the Separation Date and ending April 30, 2016, Executive will remain available to answer questions and provide such
other transitional consulting services relating to the orderly transition of Executive’s duties as are reasonably requested from time to time by the Company. Executive acknowledges and agrees that Executive will not be entitled to compensation
for providing such consulting services other than the payments and benefits expressly set forth herein. For the avoidance of doubt, the parties intend for Executive to incur a “separation from service” within the meaning of
Section 409A of the Internal Revenue Code of 1986, as amended, as of the Separation Date and, accordingly, the level of services Executive provides following the Separation Date will in all events be less than 20% of the average level of bona
fide services performed by Executive for the Company and its subsidiaries over the 36 month period preceding the Termination Date. 
 2.
Payments. 
 (a) The Company will promptly pay Executive a lump-sum amount in cash equal to $168,050.80. In addition, to the extent
unpaid, the Company will promptly pay Executive all unpaid base salary earned during the payroll period in which the Separation Date occurred and will also reimburse any business expenses incurred by Executive prior to the Separation Date that are
reimbursable under the Company’s expense reimbursement policy. 

 (b) Subject to Executive’s continued compliance with Sections 10 and 11 of the Employment
Agreement: 
 (i) The Company will pay Executive an amount in cash equal to $1,011,770, payable in substantially equal installments in
accordance with the Company’s ordinary payroll practices over the eighteen months following the Separation Date; provided, however, that any such payments that would otherwise be paid to Executive during the period commencing on the Separation
Date and ending on the earlier of (x) the expiration of the six-month period measured from the Separation Date and (y) the date of Executive’s death (the “Specified Employee Period”), shall not be paid to Executive
until the Company’s first ordinary payroll payment date that occurs at least five days following expiration of the Specified Employee Period (the “First Payroll Date”) and all payments deferred until the First Payroll Date
shall be paid in a lump sum to Executive (or Executive’s estate or beneficiaries) on the First Payroll Date, with any remaining payments due to Executive under this Section 2(b)(i) being paid as otherwise provided herein. 

(ii) If Executive timely elects to receive continued medical, dental or vision coverage under the Company’s group healthcare plans
pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”), the Company will pay the COBRA premiums under such plans for Executive and Executive’s dependents who were covered under such plans
as of the Separation Date during the period commencing on the Separation Date and ending upon the earliest of (x) the date that is eighteen (18) months after the Separation Date, (y) the date that Executive becomes no longer eligible
for COBRA and (z) the date Executive becomes eligible to receive comparable coverage from a subsequent employer (and Executive agrees to promptly notify the Company of such eligibility if the same occurs during the COBRA payment period).
Notwithstanding the foregoing, if the Company determines that it cannot provide the foregoing benefit without potentially violating applicable law (including, without limitation, Section 2716 of the Public Health Service Act) or incurring an
excise tax, the Company shall in lieu thereof provide to Executive a taxable monthly payment in an amount equal to the monthly COBRA premium that Executive would be required to pay to continue Executive’s and Executive’s covered
dependent’s group health coverage in effect on the Separation Date (which amount shall be based on the premium for the first month of COBRA coverage), which payments shall commence in the month following the month in which the Company makes
such determination and shall end on the earlier of (A) the date that is eighteen (18) months after the Separation Date, (B) the date that Executive becomes no longer eligible for COBRA and (C) the date Executive becomes eligible
to receive healthcare coverage from a subsequent employer (and Executive agrees to promptly notify the Company of such eligibility if the same occurs during the COBRA payment period), subject to any delay that may be required under Section 409A
of the Internal Revenue Code of 1986, as amended. 
 3. Vesting of Options. Exhibit A to this Agreement sets forth a complete
list of all outstanding stock options and other equity or equity-based compensation awards of the Company (but excluding vested shares of Company stock) held by Executive as of the Separation Date (the “Equity Awards”). Effective as
of the Separation Date, each Equity Award shall be deemed vested as to the number of shares of the Company’s stock set forth opposite the Equity Award option on Exhibit A under the column entitled “Vested Shares” (such vested
portion of the Equity Awards, collectively, the “Vested Awards”) and all Equity Awards that are not Vested Awards shall be forfeited and cancelled as of the Separation Date for no consideration. In addition, subject to earlier
termination in connection with a corporate transaction (to the extent provided in the documents governing the Equity Awards), Executive shall be entitled to exercise the Vested Awards until (and including) the day prior to the second anniversary of
the Separation Date. Except as otherwise set forth in this Section 3, all Equity Awards shall continue in effect subject to their terms. 

  
 - 2 - 

 4. General Release and Waiver. 

(a) Release of Claims. Executive agrees that, other than with respect to the Retained Claims (as defined below), the foregoing
consideration represents settlement in full of all outstanding obligations owed to Executive by the Company, any of its direct or indirect subsidiaries and affiliates, and any of their current and former officers, directors, equity holders,
managers, employees, agents, investors, attorneys, shareholders, administrators, affiliates, benefit plans, plan administrators, insurers, trustees, divisions, and subsidiaries and predecessor and successor corporations and assigns, all of the
foregoing in their respective capacities as such (collectively, the “Releasees”). Executive, on Executive’s own behalf and on behalf of Executive’s heirs, family members, executors, agents, and assigns, other than with
respect to the Retained Claims, hereby and forever releases the Releasees from, and agrees not to sue concerning, or in any manner to institute, prosecute, or pursue, any claim, complaint, charge, duty, obligation, or cause of action relating to any
matters of any kind, whether presently known or unknown, suspected or unsuspected, that Executive may possess against any of the Releasees arising from any omissions, acts, facts, or damages that have occurred up to and through the date Executive
executes this Agreement, including, without limitation: 
 (i) any and all claims relating to or arising from Executive’s employment
or service relationship with the Company or in their respective capacities as such any of its direct or indirect subsidiaries or affiliates and the termination of that relationship; 

(ii) any and all claims relating to, or arising from, Executive’s right to purchase, or actual purchase of any shares of stock or other
equity interests of the Company or any of its affiliates, including, without limitation, any claims for fraud, misrepresentation, breach of fiduciary duty, breach of duty under applicable state corporate law, and securities fraud under any state or
federal law; 
 (iii) any and all claims for wrongful discharge of employment; termination in violation of public policy; discrimination;
harassment; retaliation; breach of contract, both express and implied; breach of covenant of good faith and fair dealing, both express and implied; promissory estoppel; negligent or intentional infliction of emotional distress; fraud; negligent or
intentional misrepresentation; negligent or intentional interference with contract or prospective economic advantage; unfair business practices; defamation; libel; slander; negligence; personal injury; assault; battery; invasion of privacy; false
imprisonment; conversion; and disability benefits; 
 (iv) any and all claims for violation of any federal, state, or municipal statute,
including, but not limited to, Title VII of the Civil Rights Act of 1964; the Civil Rights Act of 1991; the Rehabilitation Act of 1973; the Americans with Disabilities Act of 1990; the Equal Pay Act; the Fair Credit Reporting Act; the Age
Discrimination in Employment Act of 1967; the Older Workers Benefit Protection Act; the Employee Retirement Income Security Act of 1974; the Worker Adjustment and Retraining Notification Act; the Family and Medical Leave Act; the Sarbanes-Oxley Act
of 2002; the New York State Human Rights Law; the New York 

  
 - 3 - 

 
State Worker Adjustment and Retraining Notification Act; the New York Retaliatory Actions by Employers Law; the New York State Labor Law; Section 125 of the New York Workers’
Compensation Law; and the New York State Civil Rights Law; 
 (v) any and all claims for violation of the federal or any state
constitution; 
 (vi) any and all claims arising out of any other laws and regulations relating to employment or employment discrimination;

 (vii) any claim for any loss, cost, damage, or expense arising out of any dispute over the non-withholding or other tax treatment of any
of the proceeds received by Executive as a result of this Agreement; and 
 (viii) any and all claims for attorneys’ fees and costs.

 (b) Retained Claims. Executive agrees that the release set forth in this Section 4 shall be and remain in effect in
all respects as a complete general release as to the matters released. Notwithstanding the foregoing, for the avoidance of doubt, nothing herein will be deemed to release any rights or remedies in connection with (i) Executive’s ownership
of vested equity securities of the Company (including any Vested Options), (ii) Executive’s right to indemnification by the Company or any of its affiliates pursuant to contract, directors’ and officers’ liability insurance or
applicable law, (iii) claims for breach of this Agreement, (iv) claims that cannot be released as a matter of law, including, but not limited to, Executive’s right to file a charge with or participate in a charge by the Equal
Employment Opportunity Commission, or any other local, state, or federal administrative body or government agency that is authorized to enforce or administer laws related to employment, against the Company (with the understanding that
Executive’s release of claims herein bars Executive from recovering such monetary relief from the Company or any Releasee), claims for unemployment compensation or any state disability insurance benefits pursuant to the terms of applicable
state law, (v) claims to continued participation in certain of the Company’s group benefit plans pursuant to the terms and conditions of COBRA and (vi) claims to any benefit entitlements vested as the date of separation of
Executive’s employment, pursuant to written terms of any employee benefit plan of the Company or its affiliates and Executive’s rights under applicable law (collectively, the “Retained Claims”). In addition, nothing in
this Agreement shall prohibit Executive from reporting possible violations of federal law or regulation to any governmental agency or entity in accordance with the provisions of and rules promulgated under Section 21F of the Securities Exchange
Act of 1934 or Section 806 of the Sarbanes-Oxley Act of 2002, or any other whistleblower protection provisions of state or federal law or regulation. 

(c) Waiver. Executive understands and acknowledges that Executive is waiving and releasing any rights Executive may have under the Age
Discrimination in Employment Act of 1967 (“ADEA”), and that this waiver and release is knowing and voluntary. Executive understands and agrees that this waiver and release does not apply to any rights or claims that may arise under
the ADEA after the date Executive executes this Agreement. Executive understands and acknowledges that the consideration given for this waiver and release is in addition to anything of value to which Executive was already entitled. Executive further

  
 - 4 - 

 
understands and acknowledges that Executive has been advised by this writing that: (a) Executive should consult with an attorney prior to executing this Agreement; (b) Executive has 21
days within which to consider this Agreement; (c) Executive has 7 days following Executive’s execution of this Agreement to revoke this Agreement by delivering written notice to the General Counsel of the Company (which notice shall be
deemed delivered only upon actual receipt); (d) this Agreement shall not be effective until after the revocation period has expired; and (e) nothing in this Agreement prevents or precludes Executive from challenging or seeking a
determination in good faith of the validity of this waiver under the ADEA, nor does it impose any condition precedent, penalties, or costs for doing so, unless specifically authorized by federal law. In the event Executive signs this Agreement and
returns it to the Company in less than the 21 day period identified above, Executive hereby acknowledges that Executive has freely and voluntarily chosen to waive the time period allotted for considering this Agreement. 

(d) Voluntary Execution of Agreement. Executive understands and agrees that Executive executed this Agreement voluntarily, without any
duress or undue influence on the part or behalf of the Company or any third party, with the full intent of releasing all of Executive’s claims against the Company and any of the other Releasees. Executive acknowledges that: (a) Executive
has read this Agreement; (b) Executive has not relied upon any representations or statements made by the Company that are not specifically set forth in this Agreement; (c) Executive has been represented in the preparation, negotiation, and
execution of this Agreement by legal counsel of Executive’s own choice or has elected not to retain legal counsel; (d) Executive understands the terms and consequences of this Agreement and of the releases it contains; and
(e) Executive is fully aware of the legal and binding effect of this Agreement. 
 5. Return of Company Property. Executive
hereby represents that Executive has returned all property of the Company or its affiliates (including, without limitation, proprietary information or intellectual property) that is within Executive’s custody or control; provided that the
parties agree Executive may retain Executive’s home computer and iPad after the Company has confirmed removal (or, at the Company’s discretion, destruction) of all Company information therefrom. If Executive obtains any Company property
during the course of providing the consulting services described in Section 1, Executive will promptly return such property within Executive’s custody or control upon completion of such services or the Company’s earlier request. 

6. Taxes. The Company may withhold from any amounts payable under this Agreement any federal, state, local or foreign withholding or
other taxes or charges. Executive agrees to pay any taxes that may be due from Executive on the payments to Executive provided in this Agreement beyond any withheld by the Company. 

7. Effective Date. Executive has seven (7) days after Executive executes this Agreement to revoke it by delivering written notice
of such revocation to the General Counsel of the Company at the Company’s principal executive offices (such notice to be deemed delivered only upon actual receipt), and this Agreement will become effective on the eighth (8th) day after
Executive executes this Agreement (the “Effective Date”), so long as it has not been revoked by Executive before that date. 

  
 - 5 - 

 8. General Provisions. 

(a) Severability. In the event any provision of this Agreement is found to be unenforceable by a court of competent jurisdiction, such
provision shall be deemed modified to the extent necessary to allow enforceability of the provision as so limited, it being intended that the parties shall receive the benefit contemplated herein to the fullest extent permitted by law. If a deemed
modification is not satisfactory in the judgment of such a court, the unenforceable provision shall be deemed deleted, and the validity and enforceability of the remaining provisions shall not be affected thereby. 

(b) Interpretation; Construction. The headings set forth in this Agreement are for convenience only and shall not be used in
interpreting this Agreement. This Agreement has been drafted by legal counsel representing the Company, but Executive has participated in the negotiation of its terms. Furthermore, Executive acknowledges that Executive has had an opportunity to
review and revise the Agreement and, therefore, the normal rule of construction to the effect that any ambiguities are to be resolved against the drafting party shall not be employed in the interpretation of this Agreement. Either party’s
failure to enforce any provision of this Agreement shall not in any way be construed as a waiver of any such provision, or prevent that party thereafter from enforcing each and every other provision of this Agreement. 

(c) Governing Law. This Agreement shall be governed, construed, interpreted and enforced in accordance with its express terms, and
otherwise in accordance with the substantive laws of the State of New York, without reference to the principles of conflicts of law of the State of New York or any other jurisdiction that would result in the application of the substantive laws of
any jurisdiction other than the State of New York, and where applicable, the laws of the United States. The venue for any action, suit or other legal proceeding arising under or relating to any provision of this Agreement shall be in New York
County, State of New York, and the Company and Executive each consents to the jurisdiction of such a court. The parties hereto waive any and all rights to a trial by jury with respect to any action arising hereunder. 

(d) Notices. Any notices under this Agreement shall be given in writing in person or by registered or certified U.S. mail, postage
prepaid, return receipt requested, by overnight mail next business day delivery service, or by facsimile with confirmation, (i) if the Company, to the attention of the Company’s General Counsel at its principal executive offices, and
(ii) if to Executive, at the last known address or facsimile number for Executive in the Company’s personnel files. Notices hereunder shall be deemed given when received or three days after placed in the U.S. mail in the manner provided
above. Either party may change such party’s address for notice by giving notice as provided herein. 
 (e) Entire Agreement.
This Agreement constitutes the entire agreement between the parties in respect of the subject matter contained herein and supersedes all prior or simultaneous representations, discussions, negotiations, and agreements, whether written or oral,
provided, however, that for the avoidance of doubt, the parties’ obligations under Section 14 of the Employment Agreement and Executive’s obligations under Sections 10 through 13 of the Employment Agreement shall remain in effect in
accordance with their terms. This Agreement may be amended or modified only with the written consent of Executive and an authorized representative of the Company. No oral waiver, amendment or modification will be effective under any circumstances
whatsoever. 

  
 - 6 - 

 (f) Counterparts. This Agreement may be executed in multiple counterparts, each of which
shall be deemed an original but all of which together shall constitute one and the same instrument. 
 (g) Successors. This Agreement
shall be binding upon and inure to the benefit of the Company, Executive and their respective successors, assigns, personnel and legal representatives, executors, administrators, heirs, distributees, devisees and legatees, as applicable. None of
Executive’s rights or obligations hereunder may be assigned or transferred by Executive, other than Executive’s rights to payments hereunder, which may be transferred only by will or pursuant to the applicable laws of descent and
distribution. 
 [Signature Page Follows] 

  
 - 7 - 

 IN WITNESS WHEREOF, and intending to be legally bound, the parties have executed the
foregoing on the dates shown below. 
  

									
	 CONTRAFECT CORPORATION
	  		  	
				
	 By:
	 	 /s/ Steven C. Gilman
	  		  	Date: March 25, 2016
	 Name:
	 	Steven C. Gilman	  		  	
	 Title:
	 	Chairman	  		  	
			
	 EXECUTIVE
	  		  	
				
	 /s/ Julia P.
Gregory                                    
	 		  		  	Date: March 24, 2016
	 Julia P. Gregory
	 		  		  	

 Exhibit A 

Equity Awards 
  

									
	 Award Type
	  	Grant Date	  	Exercise Price Per Share	  	Shares Subject to Award	  	Vested Shares
	 Option
	  	8/11/2012	  	$3.50	  	67,142	  	67,142
	 Option
	  	2/27/2013	  	$3.50	  	58,571	  	58,571
	 Option
	  	4/29/2014	  	$4.27	  	342,857	  	342,857
	 Option
	  	2/6/2015	  	$4.61	  	303,400	  	75,850
	 Option
	  	2/8/2016	  	$3.29	  	200,000	  	200,000

 * * * * *

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