EX-10.1
COASTAL FINANCIAL CORP
Confidential
SEPARATION AGREEMENT
This Separation Agreement (this “Agreement”) is executed by and between Coastal Community Bank (the “Bank”), Coastal Financial Corporation (the “Holding Company” and together with the Bank, the “Company”) and Brandon Soto (“Soto”).
WHEREAS, Soto currently serves as Chief Financial Officer of the Bank and the Holding Company, pursuant to the terms of the Employment Agreement by and between the Holding Company, the Bank and Soto, dated as of October 1, 2025 (the “Employment Agreement”);
WHEREAS, Soto has elected to voluntarily resign his employment with the Company;
WHEREAS, Section 4(c)(i) of the Employment Agreement requires that Soto deliver a Notice of Termination at least ninety (90) days prior to the desired termination date in the event of a voluntary resignation (“Advance Notice”) and Section 20(d) of the Employment Agreement requires Soto to repay 100% of his $15,000 signing bonus if Soto resigns prior to October 1, 2026 (“Repayment Obligation”);
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