Document:

EX-10.2

 Exhibit 10.2 

$400,000,000 

INTER-COMPANY CREDIT AGREEMENT 

BY AND BETWEEN 
 EASTERN
GAS TRANSMISSION AND STORAGE, INC. 
 AND 

EASTERN ENERGY GAS HOLDINGS, LLC 

Dated as of March 26, 2021 

INTER-COMPANY CREDIT AGREEMENT (IRCA) 
  

 This Inter-Company Credit Agreement (this “Agreement”), dated as of March 26,
2021, by and between EASTERN GAS TRANSMISSION AND STORAGE, INC. (“EGTS”, formerly Dominion Energy Transmission, Inc.), a Delaware corporation and wholly owned subsidiary of EEGH (as defined herein), and EASTERN ENERGY GAS HOLDINGS, LLC
(“EEGH”, formerly Dominion Energy Gas Holdings, LLC), a Virginia limited liability company and wholly owned subsidiary of BHE GT&S, LLC, a Delaware limited liability company (each of EGTS and EEGH referred to as a “party,”
and collectively, the “parties”), establishes the terms and conditions agreed to by and between the parties. 
 ARTICLE I

 GENERAL PROVISIONS 

Section 1.01 Definitions. 

“Available Credit” means, as of any day, $400,000,000 less the aggregate amount of Loans then outstanding. 

“Business Day” means any day other than a Saturday, a Sunday, a legal holiday or a day on which banking institutions are
authorized or required by law or other governmental action to close in New York, New York; provided that such day is also a day on which EGTS is open for business. 

“Base Rate” means, as of any day, a rate that is equivalent to One Month LIBOR as of the date of such determination, plus the
spread above One Month LIBOR that is equal to 0.40%. 
 “Drawdown Date” means a Business Day selected by EEGH upon which
all or any portion of any Loan shall be funded. 
 “Dollars or $” means lawful money of the United States of America. 

“Effective Date” shall be such day as this Agreement becomes effective pursuant to Section 4.06 hereof. 

“Final Maturity Date” means: (i) the Regular Maturity Date (as the same may be extended pursuant to Section 2.08 of
this Agreement); or (ii) such earlier termination date as may occur pursuant to Section 3.01 or 3.02 hereof. If the Final Maturity Date is not a Business Day, the next succeeding Business Day shall be deemed to be the Final Maturity Date.

 “Indebtedness” means (i) all indebtedness or other obligations of EEGH for borrowed money, including without
limitation the Note; (ii) all indebtedness or other obligations of any other Person for borrowed money in respect of which EEGH is liable, contingently or otherwise, to pay or advance money or property as guarantor, endorser or otherwise
(except as endorser for collection in the ordinary course of business); and (iii) all financing lease obligations of EEGH. 

“Interest Payment Date” means, except as may be otherwise agreed by EGTS and EEGH, the fifteenth (15th) calendar day of each month and any date upon which 100% of the outstanding principal amount of the Loans is due and payable. If an Interest Payment Date falls on a date which is not a Business Day,
such Interest Payment Date shall be deemed to be the immediately preceding Business Day. 

  
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 “Loan” means a loan made to EEGH under Section 2.01 of this Agreement.

 “Note” means the promissory note of EEGH, payable to the order of EGTS and substantially in the form annexed hereto as
Exhibit A, evidencing at any given time the Loans outstanding under this Agreement, as the same may be amended, modified, supplemented, renewed or extended from time to time and any replacement thereof or substitution therefor. 

“One Month LIBOR” shall mean the interest rate per annum (rounded upward, if not an integral multiple of 1/100 of 1%, to the
nearest 1/100 of 1% per annum) appearing on the Bloomberg Financial Markets system (“Bloomberg”), or Reuters Page LIBOR01 Page (or any successor page) as the London interbank offered rate for deposits in U.S. Dollars, in an amount
comparable to the amount of the Note, having a one month maturity at approximately 11:00 a.m. (London time) on the 15th calendar day of such month. 

“Person” means an individual, corporation, partnership, trust or unincorporated organization, or a government or any agency
or political subdivision thereof 
 “Regular Maturity Date” means the date which is one (1) year from the Effective
Date of this Agreement, as the same may be extended pursuant to Section 2.08 to this Agreement. 
 Section 1.02 Interpretation
of Definitions. All definitions in the singular shall, unless the context specifies otherwise, include and mean the plural, and all references to the masculine gender shall include the feminine; and vice versa. 

Section 1.03 Accounting Terms. All accounting terms not specifically defined herein shall be construed in accordance with
generally accepted accounting principles consistent with those applied in the preparation of EEGH’s and/or EGTS’s financial statements, and any financial data submitted pursuant to this Agreement shall be prepared in accordance with such
principles. 
 ARTICLE II 

CONCERNING THE LOANS 

Section 2.01 Loans. During the period from the Effective Date to and including the Final Maturity Date, EGTS agrees to make Loans
to EEGH upon the terms and conditions set forth herein in an aggregate outstanding principal amount not to exceed $400,000,000; provided, however, that EGTS retains sole and absolute discretion to approve or reject any request for a Loan by EEGH.
During the term of this Agreement, to but excluding the Final Maturity Date, EEGH, at its option without penalty or premium, may from time to time repay all or any part of any Loan as provided in Section 2.06 hereof, and may re-borrow any amount of such Loan that has been repaid. The entire unpaid principal balance of the Note, together with interest accrued thereon, shall be due and payable in full on the Final Maturity Date. 

  
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 Section 2.02 Requests for Loans; Accounting. EEGH will endeavor to keep EGTS
advised of its short-term borrowing needs, as EEGH deems appropriate, to help assure that EGTS has ready and rapid access to the funds requested by EEGH. Any requests for Loans hereunder shall be for a proposed amount and Drawdown Date consistent
with such short-term borrowing needs. EGTS reserves the right to require EEGH to deliver a prompt written confirmation of any oral request for a Loan, together with, if requested by EGTS, a general statement of the contemplated disposition of the
proceeds. No Loan shall be in excess of the Available Credit, and no part of any Loan may mature later than the Final Maturity Date. Increases and decreases in the amounts due and payable by EEGH under this Agreement and the Note shall be evidenced
by book entries, and EGTS shall maintain a current daily accounting of all Loans to EEGH under this Agreement. Such accounting shall be maintained in electronic format and shall indicate the Base Rate in effect from time to time. Upon request, EGTS
shall provide EEGH copies of such current accounting. 
 Section 2.03 Interest on the Loan. Daily accrued interest at the Base
Rate on the outstanding principal balance of the Loans, calculated on the basis of a 360-day year and the actual number of days elapsed, shall be determined by EGTS as of the close of each Business Day. The
rate to be used for any day other than a Business Day will be the Base Rate on the immediately preceding Business Day. All accrued and unpaid interest on all Loans shall be due and payable in arrears by EEGH on each Interest Payment Date. If unpaid,
interest shall automatically be added to the principal on the day when due, and such interest shall bear interest hereunder until paid. The nonpayment of interest shall not be a default under this Agreement, unless such interest is due on the Final
Maturity Date. 
 Section 2.04 The Note. EEGH’s obligation to repay the outstanding balance of each Loan shall be evidenced
by the Note. The Note shall be executed by a duly authorized officer of EEGH and delivered to EGTS on the Effective Date. The Note shall be payable to the order of EGTS at its offices in the City of Richmond, Virginia, and shall mature on the Final
Maturity Date (subject to the terms of Article III hereof). The Loans and the Note evidencing the Loans shall accrue interest at the Base Rate as provided in Section 2.03 hereof, which interest shall be payable at the offices of EGTS in the
City of Richmond, Virginia at the times specified in Section 2.03. Upon payment in full on the Final Maturity Date of the outstanding principal balance of the Note and all interest accrued thereon, EGTS shall promptly return such Note marked
“Cancelled” to EEGH. 
 Section 2.05 Funding and Repayment. Each Loan shall be made in Dollars in immediately
available funds on the Drawdown Date. All Loans shall be made in the form of open account advances, repayable not more than one year from the date of the first advance. All or any portion of each Loan is payable on demand of EGTS. All repayments and
prepayments by EEGH of principal and all payments by EEGH of interest shall be made without deduction, set off, abatement, suspension, deferment, defense or counterclaim, on or before the due date of repayment or payment, and shall be made in
Dollars in immediately available funds. All payments received from EEGH shall be applied as follows: first, to the payment of interest due on the Loans; and second, to the repayment of principal due on the Loans. 

Section 2.06 Optional Prepayments. EEGH may, at its option, prepay all or any part of the Loans at any time and from time to time
without penalty or premium. 

  
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 Section 2.07 Use of Loan Proceeds. The proceeds of the Loans may be used by EEGH
or its subsidiaries for any lawful purpose. 
 Section 2.08 Automatic Extension of Regular Maturity Date. If, on or before the
day which is ninety (90) days prior to the then Regular Maturity Date of this Agreement, neither of the parties to this Agreement shall have given notice to the other party that it wishes this Agreement to expire on said Regular Maturity Date,
then said Regular Maturity Date shall be deemed to have been extended automatically for an additional one (1) year period. 

ARTICLE III 

TERMINATION 

Section 3.01 Termination of Agreement. Anything in this Agreement or the Note to the contrary notwithstanding, if any of the
following events shall occur and be continuing, EGTS, at its option, shall have the right to terminate this Agreement and/or to make the outstanding principal amount of the Loans and interest thereon immediately due and payable upon written or oral
notice to EEGH, without the requirement of any further notice, demand or presentment of the Note for payment, all of which are expressly waived by EEGH: 

(a) EEGH shall fail to pay any Indebtedness or any interest or premium thereon owing by EEGH to any Person when due or within any grace period
applicable thereto, whether such Indebtedness shall become due by scheduled maturity, by required prepayment, by acceleration, by demand or otherwise; or EEGH shall fail to perform any term, covenant or agreement on its part to be performed under
this Agreement, the Note or any other agreement or instrument evidencing or securing or relating to any Indebtedness owing by EEGH when required to be performed, if such failure permits the acceleration of the maturity of such Indebtedness, unless
such failure to perform shall have been waived by the holder or holders of such Indebtedness prior to any acceleration hereunder; 
 (b)
This Agreement or the Note shall at any time for any reason cease to be in full force and effect or shall be declared to be null and void, or the validity or enforceability of this Agreement or the Note shall be contested by any Person, or EEGH
shall deny that it has any or further liability or obligation hereunder and thereunder; or 
 (c) EEGH shall have entered against it an
order for relief as a bankrupt or insolvent, or admit in writing its inability to pay its just debts as they mature, or make an assignment for the benefit of the creditors; or EEGH shall apply for or consent to the appointment of any receiver,
trustee, custodian, sequestrator, assignee for the benefit of creditors or similar officer for it or for all or any substantial part of its property, or any such person shall be appointed without the application or consent of EEGH and such
appointment shall continue unstayed or undischarged for a period of sixty (60) days; or EEGH shall institute (by petition, application, answer, consent or otherwise) any bankruptcy, insolvency, reorganization, arrangement, readjustment of debt,
dissolution, liquidation or similar proceedings relating to it under the laws of any jurisdiction; or any such proceeding shall be instituted (by petition, application or otherwise) against EEGH and shall remain unstayed or undismissed for a period
of sixty (60) days; or any judgment, writ, warrant or attachment of execution or similar process shall be issued or levied against a substantial part of the assets of EEGH and such judgment, writ, or similar process shall not be released,
stayed, vacated or fully bonded within sixty (60) days after its issue or levy. 

  
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 Section 3.02 Termination by Notice. This Agreement may be terminated by either
party by providing notice to the other at least ninety (90) days in advance of their desire to terminate this Agreement. The termination date as specified in such notice shall then become the Final Maturity Date, with all of the provisions of
Article II which pertain to the Loans and the Note to remain applicable thereto. 
 ARTICLE IV 

MISCELLANEOUS 

Section 4.01 Books and Records. EEGH covenants and agrees that, so long as this Agreement shall remain in effect, EEGH will keep
proper books of record and account in which full, true and correct entries will be made of all dealings or transactions of or in relation to its business and affairs. 

Section 4.02 Notices. Any communications between the parties hereto or notices provided herein to be given may be given by mailing
or otherwise delivering the same to the Treasurer of EGTS, c/o 6603 W Broad Street, Richmond, Virginia 23230, and to the Chief Financial Officer of EEGH, c/o 6603 W Broad Street, Richmond, Virginia 23230, and to the Attention of Todd Anliker
todd.anliker@brkenergy.com, Vice President and Treasurer, Berkshire Hathaway Energy, 666 Grand Avenue, Suite 500, Des Moines, Iowa 50309 or to such other officers or addresses as either party may in writing hereinafter specify. 

Section 4.03 Waivers: Remedies Cumulative or Other Instruments Evidencing Indebtedness. No delay or omission to exercise any
right, power or remedy accruing to EGTS under this Agreement shall impair any such right, power or remedy nor shall it be construed to be a waiver of any such right, power or remedy. Any waiver, permit, consent or approval of any kind or character
on the part of EGTS of any breach or default under this Agreement, or any waiver on the part of EGTS of any provision or condition of this Agreement, must be in writing and shall be effective only to the extent specifically set forth in such
writing. Any such waiver shall not constitute a waiver of any subsequent breach or default under this Agreement or of any provision or condition of this Agreement. All remedies, either under this Agreement, the Note, statute or rule of law or
equity, or otherwise afforded to EGTS, shall be cumulative and not alternative and may be exercised concurrently or alternatively. 

Section 4.04 Governing Law. This Agreement, the Note and any other instrument or agreement now or hereafter required hereunder,
shall be governed by, and construed under, the laws of the Commonwealth of Virginia. 
 Section 4.05 Restrictions. As long as
this Agreement remains in effect, EEGH shall not, create, incur, assume or suffer to exist any mortgage, pledge, hypothecation, assignment, deposit arrangement, encumbrance, lien (statutory or other), charge or other security interest or any
preference, priority or other security agreement or preferential arrangement of any kind whatsoever (including without limitation, any conditional sale or other title retention agreement and any capitalized lease obligation having substantially the
same economic effect as any of the foregoing), upon any of its property, assets or revenues, whether now owned or hereafter acquired, without the consent of EGTS, except for liens created in the ordinary course of business and liens in existence on
the date hereof, as previously disclosed in writing to EGTS. 

  
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 Section 4.06 Effectiveness. This Agreement shall become effective upon the
execution and delivery of this Agreement by EGTS and EEGH. 
 Section 4.07 Counterparts. This Agreement may be executed in as
many counterparts as may be deemed necessary or convenient, all of which, when so executed, shall be deemed an original, but all such counterparts shall constitute but one and the same instrument. 

Section 4.08 Severability. If any provision of this Agreement or the Note or the application thereof to any party thereto shall be
invalid or unenforceable to any extent, (i) the remainder of this Agreement and the Note, and (ii) the application of such invalid or unenforceable provisions to any other person thereto, shall not be affected thereby and shall be enforced
to the greatest extent permitted by law. 
 Section 4.09 Amendments. No amendment of any provision of this Agreement or the Note
shall be effective unless it is in writing and signed by EEGH and EGTS. 
 [Signature Page Follows] 

  
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 IN WITNESS WHEREOF, the parties hereto have executed this Agreement by their duly authorized
officers, as of the date first above written. 
  

			
	EASTERN ENERGY GAS HOLDINGS, LLC 

		
	By:	 	/s/ Richard M. Davis, Jr.
	Title:	 	Assistant Treasurer and Director – Treasury
	
	 EASTERN GAS TRANSMISSION AND STORAGE, INC.

		
	By:	 	/s/ Scott C. Miller
	Title:	 	VP – CFO & Treasurer

  
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 EXHIBIT A 

FORM OF INTER-COMPANY CREDIT NOTE 
  

					
	Up to $400,000,000	  		  	 Richmond, Virginia

March 26, 2021

 EASTERN ENERGY GAS HOLDINGS, LLC, a Virginia limited liability company (the “Company”), for value
received and in consideration of the execution and delivery by EASTERN GAS TRANSMISSION AND STORAGE, INC, a Delaware corporation (“EGTS”), of that certain Inter-Company Credit Agreement, dated as of March 26, 2021, (the
“Agreement”), hereby promises to pay to the order of EGTS in accordance with the Agreement, the principal sum of any Loans under the Agreement, up to a maximum of Four Hundred Million Dollars ($400,000,000) if fully borrowed, or so much
thereof as may be outstanding hereunder at such time. 
 The Company also unconditionally promises to pay interest on the unpaid principal
amount of this Note outstanding from time to time, until such principal amount is paid in full, at the rates, at the time and in the manner specified in the Agreement and in accordance with the provisions thereof. Nothing contained in this Note or
in the Agreement shall be deemed to establish or require the payment of a rate of interest in excess of the maximum rate permitted by any applicable law. 

This Note is issued by the Company pursuant to the Agreement, to which reference is made for certain terms and conditions applicable hereto.
Defined terms used in this Note shall, unless the context otherwise requires, have the same meanings assigned to them in the Agreement. 

Both the principal of this Note and interest hereon are payable in lawful money of the United States of America, which will be immediately
available on the day when payment shall become due, at the offices of EGTS in the City of Richmond, Virginia. Interest shall be paid on overdue principal hereof and, to the extent legally enforceable, on overdue interest, at the Base Rate as in
effect from time to time plus two hundred (200) basis points. 
 The outstanding principal amount of this Note shall be automatically
increased or decreased upon and to the same extent of any increase or decrease in the outstanding aggregate principal amount of the Loans made under the Agreement; provided, however, that at no time shall the outstanding principal amount of this
Note exceed $400,000,000. Increases and decreases in the amounts due and payable by the Company under this Agreement and the Note shall be evidenced in accordance with the terms of the Agreement. Upon payment in full on the Final Maturity Date of
the principal of and interest on this Note, this Note shall be canceled and returned to the Company and shall be of no further operation or effect. The obligation of the Company to make the payments required to be made on this Note and under the
Agreement and to perform and observe the other agreements on its part contained herein and therein shall be absolute and unconditional and shall not be subject to diminution by set off, counterclaim, defense, abatement or otherwise. 

All Loans made under the Agreement shall be made in the form of open account advances, repayable not more than one year from the date of the
first advance. All or any portion of the outstanding principal balance hereof, together with interest accrued thereon, shall be payable on demand by EGTS. Without limiting the foregoing, upon the occurrence of an event giving rise to

 
a right on the part of EGTS to terminate the Agreement under Section 3.01 thereof, the maturity of this Note may, at the discretion of EGTS, be accelerated and the principal balance hereof,
together with interest accrued thereon, may be declared immediately due and payable as provided in the Agreement. 
 Presentment for
payment, demand, protest and notice of demand, notice of dishonor, notice of non-payment and all other notices are hereby waived by the Company, except to the extent expressly provided in the Agreement. No
failure to exercise, and no delay in exercising, any rights hereunder on the part of the holder hereof shall operate as a waiver of such rights. 

This Note is issued with the intent that it shall be governed by, and construed in accordance with, the laws of the Commonwealth of Virginia.

 IN WITNESS WHEREOF, Eastern Energy Gas Holdings, LLC has caused this Note to be duly executed in its name by its duly authorized officer
all as of the date first set forth above. 
  

			
	 Eastern Energy Gas Holdings, LLC

		
	 By:
	 	 
	 Title:
	 	

 INTER-COMPANY CREDIT NOTE 

 

					
	Up to $400,000,000	  		  	 Richmond, Virginia

March 26, 2021

 EASTERN ENERGY GAS HOLDINGS, LLC, a Virginia limited liability company (the “Company”), for value
received and in consideration of the execution and delivery by EASTERN GAS TRANSMISSION AND STORAGE, INC, a Delaware corporation (“EGTS”), of that certain Inter-Company Credit Agreement, dated as of March 26, 2021, (the
“Agreement”), hereby promises to pay to the order of EGTS in accordance with the Agreement, the principal sum of any Loans under the Agreement, up to a maximum of Four Hundred Million Dollars ($400,000,000) if fully borrowed, or so much
thereof as may be outstanding hereunder at such time. 
 The Company also unconditionally promises to pay interest on the unpaid principal
amount of this Note outstanding from time to time, until such principal amount is paid in full, at the rates, at the time and in the manner specified in the Agreement and in accordance with the provisions thereof. Nothing contained in this Note or
in the Agreement shall be deemed to establish or require the payment of a rate of interest in excess of the maximum rate permitted by any applicable law. 

This Note is issued by the Company pursuant to the Agreement, to which reference is made for certain terms and conditions applicable hereto.
Defined terms used in this Note shall, unless the context otherwise requires, have the same meanings assigned to them in the Agreement. 

Both the principal of this Note and interest hereon are payable in lawful money of the United States of America, which will be immediately
available on the day when payment shall become due, at the offices of EGTS in the City of Richmond, Virginia. Interest shall be paid on overdue principal hereof and, to the extent legally enforceable, on overdue interest, at the Base Rate as in
effect from time to time plus two hundred (200) basis points. 
 The outstanding principal amount of this Note shall be automatically
increased or decreased upon and to the same extent of any increase or decrease in the outstanding aggregate principal amount of the Loans made under the Agreement; provided, however, that at no time shall the outstanding principal amount of this
Note exceed $400,000,000. Increases and decreases in the amounts due and payable by the Company under this Agreement and the Note shall be evidenced in accordance with the terms of the Agreement. Upon payment in full on the Final Maturity Date of
the principal of and interest on this Note, this Note shall be canceled and returned to the Company and shall be of no further operation or effect. The obligation of the Company to make the payments required to be made on this Note and under the
Agreement and to perform and observe the other agreements on its part contained herein and therein shall be absolute and unconditional and shall not be subject to diminution by set off, counterclaim, defense, abatement or otherwise. 

All Loans made under the Agreement shall be made in the form of open account advances, repayable not more than one year from the date of the
first advance. All or any portion of the outstanding principal balance hereof, together with interest accrued thereon, shall be payable on demand by EGTS. Without limiting the foregoing, upon the occurrence of an event giving rise to a right on the
part of EGTS to terminate the Agreement under Section 3.01 thereof, the maturity of this Note may, at the discretion of EGTS, be accelerated and the principal balance hereof, together with interest accrued thereon, may be declared immediately
due and payable as provided in the Agreement. 

 Presentment for payment, demand, protest and notice of demand, notice of dishonor, notice of
non-payment and all other notices are hereby waived by the Company, except to the extent expressly provided in the Agreement. No failure to exercise, and no delay in exercising, any rights hereunder on the
part of the holder hereof shall operate as a waiver of such rights. 
 This Note is issued with the intent that it shall be governed by, and
construed in accordance with, the laws of the Commonwealth of Virginia. 
 IN WITNESS WHEREOF, Eastern Energy Gas Holdings, LLC has caused
this Note to be duly executed in its name by its duly authorized officer all as of the date first set forth above. 
  

			
	 Eastern Energy Gas Holdings, LLC

		
	 By:
	 	 /s/ Richard M. Davis, Jr.

	 Title:
	 	 Assistant Treasurer and Director – TreasuryEX-10.1

 Exhibit 10.1 

CONFIDENTIAL SEPARATION AGREEMENT AND GENERAL RELEASE 

This Confidential Separation Agreement and General Release (“Agreement”) is entered into between Donald Legato (“Executive”),
Third Coast Bank, SSB, and Third Coast Bancshares, Inc. (collectively the “Bank”) as follows: 
 1. Separation of
Employment and Resignation. Executive is being separated from employment with the Bank upon the mutual agreement of the parties and Executive hereby resigns from all positions that Executive holds as an officer or member of the Board of
Directors of the Bank (or any Committee thereof) or the board of any of the Bank’s affiliates as of the Separation Date. Executive’s effective date of separation from the Bank is June 30, 2022 (the “Separation Date”).
Whether Executive signs this Agreement or not, the Bank will pay: (i) all wages and compensation due Executive through the Separation Date; (ii) any accrued but unused vacation, provided that Executive is qualified for such payment under
the terms of the Bank’s policies; and (iii) reimbursement of properly authorized business expenses upon compliance with the Bank’s expense reimbursement policies. 

2. Consideration. 
 In return for
Executive’s release of claims and other promises in this Agreement, and provided Executive: (i) signs this Agreement within the twenty-one (21) day period described below; (ii) does not
revoke this Agreement as provided below; and (iii) furnishes to the Bank a written or electronic notice that Executive has not exercised Executive’s right to revoke this Agreement dated not less than eight (8) days after the date on
which Executive signs this Agreement: 
  

	 	a.	 The Bank will continue to pay Executive his annualized base salary ($350,000.00 per year) for a one
(1) year period beginning on the day after the Separation Date and ending on the first anniversary of the Separation Date (the “Salary Continuation Payments”). The Salary Continuation Payments will be paid to Executive
in accordance with the Bank’s standard payroll procedures commencing on the Bank’s first regularly scheduled payroll date following the Effective Date (as defined in Section 20 below); provided, however, that the first
Salary Continuation Payment will include any unpaid Salary Continuation Payments accrued after the Separation Date; 

  

	 	b.	 The Bank will include in the Salary Continuation Payments and pay to Executive the average of Executive’s
annual bonuses earned for the three (3) full years preceding the Separation Date ($111,725.00 total) in equal installments consistent with Section 2a above; 

 

	 	c.	 If Executive timely and properly elects continuation coverage under the Consolidated Omnibus Reconciliation Act
of 1985 (“COBRA”), the Bank shall reimburse Executive for the monthly COBRA premium paid by Executive for Executive and Executive’s dependents (with the Executive required to pay for any employee-paid portion of such coverage)
(such amounts to be referred to herein as the “COBRA Benefits”). The Bank shall make any such reimbursement within thirty (30) days following receipt of evidence from Executive of Executive’s payment of the COBRA Benefits.
Executive shall be eligible to receive such reimbursement until the earliest of: (i) twelve (12) months following the Separation Date; (ii) the date Executive is no longer eligible to receive COBRA Benefits; and (iii) the date on
which Executive either receives 

  
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or becomes eligible to receive substantially similar coverage from another employer. Executive shall bear full responsibility for applying for COBRA Benefits and the Bank shall have no obligation
to provide Executive such coverage if the Executive fails to elect COBRA Benefits in a timely fashion; and 

  

	 	d.	 The Bank will fully fund the Bank’s portion of the June 30, 2022, contribution for Executive to the
Bank’s 401(k) Plan. 

 3.    Equity Grants. 

All outstanding grants of incentive stock options and restricted stock awards previously granted to Executive as of the Separation Date shall continue to be
governed, as applicable, by the terms and conditions of the Third Coast Bancshares, Inc. 2019 Omnibus Incentive Plan, the Third Coast Bancshares, Inc. 2013 Stock Option Plan, or the Third Coast Bank, SSB 2010 Stock Option Plan, any agreements
thereunder, or amendments thereto, including any provisions relating to forfeiture of such stock options and/or restricted shares. For the avoidance of doubt all unvested stock options and restricted shares granted to Executive shall be forfeited
and of no further force or effect on the Separation Date. The Bank further acknowledges and agrees that Executive shall retain his full right, title and interest in and to all incentive stock options and restricted stock awards that vested prior to
the Separation Date (the “Vested Equity Awards”) after the Separation Date and such Vested Equity Awards shall continue to be governed by the terms and conditions of the underlying award agreements; provided, that the Bank shall
take no action to cause a forfeiture of the Vested Equity Awards and will reasonably cooperate in removing any restrictions to allow for the disposition of such shares by Executive, as permitted under applicable laws. 

4. Indemnification and Insurance. 

For a period of no less than four (4) years from the Effective Date, the Bank agrees to not allow any amendment to the indemnification provisions in its
Certificate of Formation and/or Bylaws that would have an adverse effect on Executive’s rights to indemnification thereunder, unless such amendment is required to comply with applicable law. For a period of no less than four (4) years from
the Separation Date, the Bank agrees not to take any action to exclude Executive from coverage under any insurance policy that the Bank maintains in connection with claims that may be made against its directors and officers. 

5. Release. 
  

	 	a.	 In consideration of the payments and other consideration provided for in this Agreement, Executive, for
Executive, Executive’s heirs, executors, administrators, successors and assigns, does hereby RELEASE, ACQUIT AND FOREVER DISCHARGE the Bank, and its parent, subsidiary, related and affiliated corporations or other entities, and each of their
respective present or former officers, directors, shareholders, employees, agents, representatives, successors and assigns (all of whom are hereinafter collectively referred to as “Releasees”) from any and all claims, demands,
causes of action and liabilities of any kind or character, accrued or to accrue hereafter, which Executive ever had, now has or may hereafter have against Releasees, through the Effective Date of this Agreement, caused by or, arising out of any act,
omission, statement, representation, transaction or occurrence performed, omitted, created or entered into by or on 

  
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behalf of Releasees, including, without limitation, those related to Executive’s employment by the Bank or the termination thereof. Without limiting the generality of the foregoing, it is
understood and agreed that this Agreement constitutes a release of any claim or cause of action: (i) for breach of any employment agreement, salary continuation agreement, bonus or incentive compensation plan, stock options or grants, or other
agreement or plan existing between Executive and the Bank, all of which are hereby acknowledged to have terminated, except as otherwise stated herein; or (ii) otherwise related, in any way, to Executive’s employment by the Bank, including
the termination thereof, and includes, without limitation, claims arising under the U.S. or Texas Constitutions; Title VII of the Civil Rights Act of 1964 (and all of its amendments); the Americans with Disabilities Act of 1990, as amended; the
Age Discrimination in Employment Act; the Older Workers Benefit Protection Act; the Worker Adjustment and Retraining Notification Act of 1988 (the “WARN Act”); the Family and Medical Leave Act (the “FMLA”); the
Families First Coronavirus Response Act (the “FFCRA”); and the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”); the Anti-Retaliation provision of the Texas Workers Compensation Act; the Fair
Labor Standards Act; the Texas Pay Day Law; the Texas Labor Code, including the Texas Commission on Human Rights Act; the National Labor Relations Act; the Fair Credit Reporting Act, as amended; the Rehabilitation Act; the COBRA; the Sarbanes-Oxley
Act of 2002; the Employee Polygraph Protection Act; the Financial Institutions Reform, Recovery and Enforcement Act; the Uniform Services Employment and Reemployment Rights Act of 1994; and any other state or federal statute or regulation governing
the employment relationship or Executive’s rights, or the Bank’s obligations, in connection therewith. This release also constitutes a release of any claim or cause of action for invasion of privacy, intentional or negligent infliction of
emotional distress, wrongful termination, promissory estoppel, false imprisonment, defamation, negligence, gross negligence, breach of contract, libel or slander, tortious interference with contract or business relationship, misrepresentation,
deceptive trade practices, fraud, and any employment-related claims, or for any personal injuries, however characterized, or by virtue of any fact(s), act(s) or event(s) occurring prior to the date of this Agreement; provided that the
Bank is not released from any obligations or liabilities to Executive (i) pursuant to the certificate of formation or association or bylaws of the Bank regarding the indemnification of officers or directors; (ii) in connection with any
deposits (as defined in 12 USC § 1813(1)) of Executive; (iii) in connection with medical claims not yet filed; or (iv) pursuant to this Agreement. 

 

	 	b.	 Executive understands that by signing and not revoking this Agreement, Executive is waiving any and all rights
or claims which Executive may have under the Age Discrimination in Employment Act and/or the Older Workers’ Benefit Protection Act for age discrimination arising from employment with the Bank, including, without limitation, the right to sue the
Bank in federal or state court for age discrimination. Executive further acknowledges that Executive: (i) does not waive any claims or rights that may arise after the date the Agreement is executed; (ii) waives claims or rights only in
exchange for consideration in addition to anything of value to which Executive is already entitled; (iii) has been advised by the Bank to consult with an attorney before signing this release; and (iv) agrees that this Agreement is written
in a manner calculated to be understood by Executive, and Executive, in fact, understands the terms, contents, conditions and effects of this Agreement and has entered into this Agreement knowingly and voluntarily. 

  
 3 

	 	c.	 Other than the compensation and payments provided for in this Agreement or as required by law, Executive shall
not be entitled to any additional compensation, payments, vacation pay, bonuses, benefits, payments or equity grants under the Employment Agreement (as hereinafter defined) or any benefit plan, long term incentive plan, option plan, severance plan
or bonus or incentive program established by the Bank or any of the Bank’s affiliates or that otherwise relate to Executive’s employment with the Bank or positions with the Bank, and that Executive’s participation in such plans,
policies or programs shall cease as of the Separation Date. Executive agrees that the release in this Paragraph 3(a) covers any claims Executive might have regarding Executive’s compensation, bonuses, incentive compensation, stock options or
grants and any other benefits Executive may or may not have received during Executive’s employment with the Bank. 

  

	 	d.	 Executive acknowledges that the Salary Continuation Payments includes consideration which Executive would not
be entitled to receive but for Executive’s execution and non-revocation of this Agreement. 

6. Legal Proceedings. Executive represents that Executive has not filed any claim, notice or any other document describing or naming
the Bank or any of the other Releasees with any court or governmental agency. Executive further agrees not to commence any legal proceeding or lawsuit against the Bank or any of the other Releasees in violation of this Agreement and forever
releases and waives any claim against or liability of the Bank arising out of or because of the employment and/or termination of Executive’s employment with the Bank, whether such claim or liability is currently known or unknown. Nothing
herein, however, shall be construed to restrict or prevent Executive from filing a charge, complaint, or claim with the Equal Employment Opportunity Commission, the National Labor Relations Board, or any other state or federal administrative agency
or from participating in an investigation conducted by such administrative agency. Executive further understands and recognizes, however, that if a charge is filed by Executive or on Executive’s behalf with an administrative agency, Executive
will not be entitled to any monetary recovery relating to any event which occurred prior to Executive’s execution of this Agreement. 

7. Return of the Bank’s Property. Executive represents and agrees that Executive: 

 

	 	a.	 Will not use or disclose any of the Bank’s trade secrets or confidential information in any way or in any
format including written information, information stored by electronic means, information retained in Executive’s memory, and any and all copies of these materials. In any event, Executive shall hold, in confidence, all non-public information Executive has regarding the Bank’s marketing, business development, budgets or financial projections, or pending contracts, proposals or solicitations; 

 

	 	b.	 Acknowledges that all: (i) correspondence, proposals, notes, reports, memoranda, records and files;
(ii) plans, specifications, drawings, blueprints, and designs; (iii), training, service or other manuals; (iv) customer or personnel lists or files, including mailing or contact lists; (v) computer software, programs, disks or files;
(vi) tools, materials or equipment; (vii) photographs, photostats, negatives, undeveloped film; (viii) tape or electronic recordings; and (ix) any other documents or programs, whether compiled by Executive or other employees of
the Bank, or its contractors, vendors or consultants, and those which were made available to Executive while 

  
 4 

	 	
employed at the Bank, which contain any confidential information or trade secrets or concern or describe any part of the Bank’s business, Executive’s employment or the Bank’s or
Executive’s dealings, transactions or communications with any actual or prospective customers (all of which is hereinafter collectively referred to as “Bank Information”), are and shall remain the sole and exclusive property of
the Bank. Executive agrees that this includes any Bank Information contained on or within any personal computer, blackberry, cell phone, iPad, or any other telephonic or electronic communication or data storage device, including those owned by
Executive which were used during Executive’s employment with the Bank (all of which are hereinafter collectively called Electronic Devices). As a condition to receipt of the Salary Continuation Payments described herein, Executive agrees to
deliver to the Bank any files, records, notes or other documents, and any Electronic Devices which were used during Executive’s employment with the Bank or which contain any Bank Information. The Bank shall have the right to access and inspect
any Electronic Device through an independent forensic expert up to 60 days following the execution of this Agreement and to remove any Bank Information therefrom and to retain any file, record, note or other document containing Bank Information;

  

	 	c.	 Has not kept in Executive’s possession and will not disclose nor deliver to anyone else any Bank
Information whether in electronic, paper or any other format; and 

  

	 	d.	 Has returned to the Bank all of the Bank’s property and all Bank Information which had been in
Executive’s possession, including, but not limited to all access cards, notes, data, forms, reference and training materials, applications, memoranda, computer programs, print-outs, disks and the
information contained in any computer, and any other records which contain, reflect or describe any confidential or proprietary information or trade secrets belonging exclusively to the Bank. Executive shall promptly deliver such materials and all
copies thereof to the Bank on the Effective Date of this Agreement. 

 8. Confidentiality and Confidential
Information. 
  

	 	a.	 Executive acknowledges that by reason of Executive’s position with the Bank, Executive has been given
access to trade secrets and confidential information regarding the Bank’s business affairs. Executive reaffirms the existence and enforceability of all confidentiality, nondisclosure or other agreements relating to the Bank’s confidential
information or trade secrets, and any non-competition, non-solicitation or other agreement containing post-employment obligations including, without limitation, the
covenants contained in Section 7 of the Employment Agreement between the parties dated June 23, 2020, (the “Employment Agreement”) and acknowledges that such covenants and promises remain in full force and effect, and
nothing contained in this Agreement constitutes a release, modification or waiver of any of Executive’s obligations under any such agreements. Executive represents that Executive has complied with all of such agreements, and agrees to continue
to comply with such agreements after the Effective Date hereof. 

  
 5 

	 	b.	 Executive shall not disclose the terms, conditions, or considerations of this Agreement, except to the extent
that disclosure is required by applicable law or court order, and except that Executive may disclose this Agreement to Executive’s attorneys, financial advisors, and tax consultants to the extent reasonably required for preparation of
appropriate tax returns. 

 9. Tax Liability. The Bank will deduct from that portion of the Salary Continuation
Payments described in Section 2 herein all applicable withholdings and deductions as required by federal or state law. Executive authorizes the Bank to utilize the IRS Form W-4 on file with the Bank for
the purpose of such deductions and withholdings. Executive agrees to pay any taxes found to be owed by Executive, if any, from payments made pursuant to this Agreement and to hold the Bank harmless from any claims, assessments, demands, penalties,
and interest Executive may owe, or that are found to be owed by Executive, as a result of any payments made pursuant to this Agreement. 

10. Non-disparagement. Executive agrees and covenants that Executive will not at any time make,
publish or communicate to any person or entity or in any public forum any defamatory or disparaging remarks, comments or statements concerning the Bank or its businesses, or any of its employees, officers, directors, and existing and prospective
customers, suppliers, investors and other associated third parties. 
 This Section 10 does not, in any way, restrict or impede Executive from
exercising protected rights to the extent that such rights cannot be waived by agreement or from complying with any applicable law or regulation or a valid order of a court of competent jurisdiction or an authorized government agency, provided that
such compliance does not exceed that required by the law, regulation or order. Executive shall (if lawful) promptly provide written notice of any such order to the Bank. 

11. Effect of Violation. If Executive violates any term(s) of this Agreement, the Bank shall have no further obligation to pay
Executive any Salary Continuation Payments still outstanding and shall have the right to seek and obtain injunctive relief and damages in any court of competent jurisdiction, including the right to a return of all Salary Continuation Payments
previously made pursuant to this Agreement, except for the amount of Ten Thousand Dollars ($10,000.00), which Executive agrees shall be sufficient consideration for the release of claims in Section 5 herein. 

12. Acknowledgments. Executive represents and acknowledges that in executing this Agreement, Executive does not rely and has not relied
upon any representation or statement made by the Bank, or its agents, representatives, or attorneys with regarding to the subject matter, basis or effect of this Agreement or otherwise. Executive further represents and acknowledges that Executive
has been fully compensated for all labor and services performed for the Bank and has been reimbursed for all business expenses incurred on behalf of the Bank through the Separation Date, and that the Bank does not owe Executive any expense
reimbursements, or wages, including vacation pay or paid time-off benefits. 
 13. Governing
Law. This Agreement is made and entered into in the State of Texas and shall in all respects be interpreted, enforced, and governed under the laws of the State of Texas, without giving any effect to any conflict of law provisions thereof, except
to the extent Texas state law is preempted by federal law. 

  
 6 

 14. Savings Clause. Should any provision of this Agreement be declared to be
determined by any court to be illegal or invalid, the validity of the remaining parts, terms, or provisions shall not be affected thereby and said illegal or invalid part, term, or provision shall be deemed not to be a part of this Agreement. 

15. Entirety of Agreement. This Agreement sets forth the entire Agreement between the parties hereto, and fully supersedes any and all
prior agreements or understandings between the parties hereto pertaining to the subject matter hereof, except that this Agreement does not in any way supersede or alter any policies or agreements containing covenants not to compete, non-disclosure, non-solicitation agreements, or confidentiality agreements that may exist between Executive and the Bank including, without limitation, Sections 7, 8, 9, 10,
11 and 12 of the Employment Agreement which expressly survive the termination of such Employment Agreement in accordance with and pursuant to Section 24 of the Employment Agreement. 

16. Binding Effect. This Agreement shall be binding upon, and inure to the benefit of, the parties hereto, their successors, legal
representatives, heirs, and permitted assigns; provided, however, that Executive may not assign nor transfer to any person or entity any of Executive’s rights or benefits hereunder, and any such purported assignment shall be void. Executive
warrants and represents to the Bank that Executive has not conveyed nor assigned, nor attempted to convey nor assign, any interest in or to any of the claims being released herein to any other person or entity, other than such assignment as may have
been made to the attorneys for Executive who join in this Agreement and release of claims solely for the purpose of evidencing their consent hereto. 

17. No Admission. This Agreement is entered into to compromise and settle disputed claims and legal issues, and neither the offer or
execution of this Agreement, nor the payment or furnishing of the Salary Continuation Payments shall constitute or be deemed to be an admission of liability on the part of any of the Releasees all of which is expressly denied. 

18. Time Period for Enforceability/Revocation of Agreement. The Bank’s obligation to pay the Salary Continuation Payments and
provide any other benefits described in this Agreement is contingent upon Executive executing and returning this Agreement to the Bank, and not revoking it. Executive may take up to twenty-one (21) days
to consider this Agreement prior to executing it. Executive may sign this Agreement at any time during this twenty-one (21) day period. Any changes made to this Agreement after presentation to Executive
will not restart the running of the twenty-one (21) day period. After executing this Agreement, Executive shall have seven (7) days to revoke Executive’s consent to this Agreement by given
written or electronic notification of the decision to revoke to the Bank, as described below. This Agreement will not become effective or enforceable, and the payments and benefits described herein shall not become due, until such revocation period
has expired and Executive has delivered to the Bank a written or electronic notice to the person and address identified in Section 19 below that Executive has not exercised Executive’s right to revoke this Agreement which notice is dated
not less than eight (8) days after the date on which this Agreement is executed. The Bank reserves the right to revoke this offer to enter into this Agreement at any time before the Bank receives a signed copy of the Agreement from Executive.
Any such revocation would be made by sending written notice to Executive or Executive’s attorney of record. 
 19. Notice of
Revocation. Any notice to be given pursuant to this Agreement shall be sent by email transmission to Kim Zabin at kzabin@thirdcoastbankssb.com. Executive understands and acknowledges that Executive will not receive any monies or benefits
pursuant to this Agreement except upon the execution and non-revocation of this Agreement, and the fulfillment of the promises contained herein. 

  
 7 

 20. Effective Date. The Effective Date of this Agreement shall be the date on which
it has been signed by both Executive and the Bank, provided that Executive does not revoke this Agreement in accordance with the provisions hereof. 

EXECUTIVE’S SIGNATURE BELOW MEANS THAT EXECUTIVE HAS READ THIS AGREEMENT AND AGREES AND CONSENTS TO ALL THE TERMS AND CONDITIONS
CONTAINED HEREIN. 
 The parties knowingly and voluntarily sign this Agreement as of the date(s) set forth below: 

 

							
		 	Executive	 		 	Third Coast Bank, SSB
				
	By:	 	/s/ Donald Legato	 	By:	 	/s/ Kim Zabin
		 	Donald Legato	 		 	 Kim Zabin
 Human Resources
Director

				
	Date:	 	6/30/2022	 	Date:	 	6/30/2022
				
		 		 		 	Third Coast Bancshares, Inc.
				
		 		 	 By:
	 	 /s/ Bart Caraway

				
		 		 	 Its:
	 	 CEO & President

				
		 		 	 Date:
	 	 6/30/2022

  
 8

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