EX-10.1
EX-10.1
May 14, 2026
Dane Almassy
Via Personal Email
Dear Dane:
This Confidential Separation and General Release Agreement (the “Agreement”) is made and entered into by and between Dane Almassy, for yourself, your family, your beneficiaries and anyone acting for you) (“you” or “your”) and Local Bounti Corporation and its subsidiaries (together, the “Company”), (collectively, the “Parties”).
WHEREAS, you have been employed at-will by the Company as Chief Commercial Officer since August 25, 2025;
WHEREAS, you have been concurrently employed by Insperity PEO Services, L.P. (“Insperity”) for the purposes of administering payroll and benefits;
WHEREAS, you entered into an employment agreement with the Company on or about July 15, 2025 (the “Employment Agreement”);
WHEREAS, under the Employment Agreement, you are entitled to certain severance payments upon the involuntary termination of your employment for a reason other than Cause, contingent upon your compliance with the terms and conditions therein, including your timely execution of a separation agreement and release of claims;
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