Exhibit 10.1

Amended and Restated Board of Directors Compensation Policy

On April 21, 2021 the Board of Directors of Lisata Therapeutics, Inc. (the "Company") adopted the Amended and Restated Board of Directors Compensation Policy (the "Board of Directors CompensationPolicy")forallnon-employeeBoardmembers,providingthat:

•each Board member shall be authorized to receive an annual cash compensation retainer of $40,000 for his or her service as a Board member;

•the Lead Director shall be authorized to receive an additional annual cash compensation retainer of $10,000 for his or her service as the Lead Director;

•the Non-executive Chair shall be authorized to receive an additional annual cash compensation retainer of $30,000 for his or her service as the Non-executive Chair;

•each member of the Company's Audit Committee shall be entitled to receive annual cash compensation of $8,000 for his or her service on such committee;

•each member of the Company's Compensation Committee shall be entitled to receive annual cash compensation of $6,000 for his or her service on such committee;

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•each member of the Company's Nominating and Governance Committee shall be entitled to receive annual cash compensation of $4,500 for his or her service on such committee;

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•each member of the Company's Science and Technology Committee shall be entitled to receive annual cash compensation of $4,500 for his or her service on such committee;

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•the Audit Committee Chair shall be authorized to receive annual cash compensation of $18,000 for his or her service as the Chair;

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•the Compensation Committee Chair shall be authorized to receive annual cash compensation of $12,000 for his or her service as the Chair;

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•the Nominating and Governance Committee Chair shall be authorized to receive annual cash compensation of $9,000 for his or her service as the Chair;

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•the Science and Technology Committee Chair shall be authorized to receive annual cash compensation of $9,000 for his or her service as the Chair;

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•each member of the Board shall receive annually on the second Monday in January a grant of restricted stock with a Black Scholes value of $60,000 with the number of shares to be issued on the grant date calculated based on the grant date fair value with annual vesting at one year from the grant date; and

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•each newly appointed Board member shall receive an initial grant of restricted stock with a Black Scholes value of two times (2x) the value of the annual restricted stock grant to Board members with the number of shares to be issued on the grant date calculated based on the grant date fair value with one-third vesting annually on each of the first, second and third anniversaries of the grant date.