Promissory NotePromissory Note • August 2nd, 2018 • Stein Mart Inc • Retail-family clothing stores • Florida
On this date of Tuesday, July 31, 2018, in return for valuable consideration received, STEIN MART, INC., (“Borrower”) promises to pay to the Stein Mart, Inc. Executive Deferral Plan, SunTrust Bank, Trustee under trust agreement (“Trust Agreement”) dated September 1, 1999, the “Lender”, the sum of THIRTEEN MILLION DOLLARS ($13,000,000), together with interest thereon at the rate of 3.58% per annum. Interest shall accrue daily on the average loan balance for the number of days the loan is outstanding prior to the date of repayment.
