Document:

Employment Agreement

 EXHIBIT 10.2 
 Execution Copy 
 EMPLOYMENT AGREEMENT 
 EMPLOYMENT AGREEMENT (this “Agreement”) dated as of July 26, 2006, by and between COAST FINANCIAL HOLDINGS, INC.
(the “Company”), a Florida bank holding corporation, COAST BANK OF FLORIDA (the “Bank”), a Florida state chartered bank and wholly owned subsidiary of the Company, and ANNE V. LEE
(the “Executive”), an individual. 
 W I T N E S S E T H: 
 WHEREAS, the Executive is jointly employed by the Company and the Bank; 
 WHEREAS, the Executive has been promoted to the position of Chief Operating Officer of both the Company and the Bank; 
 WHEREAS, the Board of Directors of the Bank and the Board of Directors of the Company (hereinafter, together, the “Board of
Directors”) have concluded that it would be appropriate and in the best interests of the Company and the Bank to provide an employment agreement to the Executive; and 
 WHEREAS, the Executive desires to accept the terms and conditions of employment set forth in this Agreement; 
 NOW, THEREFORE, in consideration of the foregoing and the mutual covenants and agreements set forth herein, the parties agree as follows:

 1. Employment of Executive. The Company and the Bank agree to employ the Executive as their joint employee, to perform
services for both of them. 
 2. Term of this Agreement. 
 (a) The Company and the Bank shall jointly employ the Executive for a period of time commencing on the date of this Agreement
(“Commencement Date”), and lasting for three (3) years (the “Initial Three Year Term”), and it is further agreed that this Initial Three Year Term shall be automatically extended by one day on
each day that passes where the Executive is employed pursuant to this Agreement (including any day after the end of the Initial Three Year Term). Thus, on any day during or after the Initial Three Year Term, while the Executive is employed pursuant
to this Agreement, the Agreement would have a term expiring on the day before the third (3rd) annual
anniversary of such date. It is also agreed that in the event of a Notice of Termination (as that term is defined in Section 7(a) of this Agreement), given by one party to the other party, for any reason, the automatic one-day extensions to the
Initial Three Year Term shall cease and desist as of the Executive’s last day of employment pursuant to this Agreement (the Executive’s “Termination Date”). Accordingly, it is the parties’ intent that as of the
Termination Date, this Agreement would have a fixed and definite term of three (3) years. That period of time starting on the Commencement Date, and ending three years 

  

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after the Termination Date, shall be referred to hereinafter as the “Term” of this Agreement. For example, if a Notice of Termination
of this Agreement were given resulting in a Termination Date of January 1, 2011, the Term of the Agreement would expire on December 31, 2013. 
 (b) Notwithstanding anything to the contrary in this Section 2, nothing in this Agreement shall be deemed to prohibit the Company or the Bank from terminating the Executive’s employment during the Term for
any reason. 
 3. Position and Duties. 
 (a) The Executive shall serve as Chief Operating Officer of the Company and the Bank, and as Executive Vice President/Retail Banking
Manager of the Bank, reporting directly to the President and Chief Executive Officer of the Bank and the Company. The Executive’s principal office shall be located in Manatee County, Florida. The Executive will have such power and authority as
is customarily exercised by persons holding her offices, and she shall perform her duties and responsibilities as reasonably directed by the Board of Directors, in good faith, and in accordance with standards of reasonable business judgment.
References herein to services rendered for the Company and the Bank, and compensation and benefits payable or provided by the Company and the Bank, shall include services rendered for and compensation and benefits payable or provided by Affiliated
Companies. As used in this Agreement, the term “Affiliated Companies” shall include any company, bank, or financial institution controlled by, controlling or under common control with the Company or the Bank. 
 (b) While employed pursuant to this Agreement, and excluding any periods of vacation or sick leave to which the Executive is entitled, the
Executive shall devote her full attention and time during normal business hours to the business and affairs of the Company, the Bank, and their Affiliated Companies, and, to the extent necessary to discharge the responsibilities assigned to the
Executive hereunder, shall use her reasonable best efforts to perform faithfully and efficiently such responsibilities in a professional manner. It shall not be a violation of this Agreement for the Executive to (i) serve on corporate, civic,
or charitable boards or committees, (ii) deliver lectures, fulfill speaking engagements, or teach at educational institutions, or (iii) manage personal investments, so long as such activities do not significantly interfere with the
performance of the Executive’s responsibilities under this Agreement. It is expressly understood and agreed that to the extent that any such activities have been conducted by the Executive prior to the Commencement Date, the continued conduct
of such activities (or the conduct of activities similar in nature and scope thereto) subsequent to the Commencement Date shall not thereafter be deemed to interfere with the performance of the Executive’s responsibilities under this Agreement.

 4. Compensation and Related Matters. While employed by the Bank and the Company, the Executive shall be compensated for her
services, and such compensation shall include the following: 
 (a) Base Salary. The Executive
shall receive an annual base salary (“Base Salary”) of at least $150,000 per year, payable in approximately equal installments in accordance with customary payroll practices. This Base Salary may be reviewed and increased
from time to time; the Company and the Bank agree that such reviews shall be conducted at least annually by 

  

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the President and Chief Executive Officer of the Company and that raises shall take into account the Executive’s performance. Base Salary shall not be
reduced after any such increase and the term Base Salary, as used in this Agreement, refers to Base Salary as so increased from time to time. The Base Salary payments (including any increased Base Salary payments) hereunder shall not in any way
serve to limit or reduce any other obligation to the Executive under this Agreement. 
 (b) Annual Performance
Bonuses. Every calendar year subject to this bonus provision, beginning with the 2006 calendar year, the Executive shall be eligible for an annual performance bonus (“Annual Bonus”) in an amount equal to twenty
percent (20%) of the Executive’s Base Salary earned during that calendar year in question (“Bank Year”). The Executive will be paid this Annual Bonus if the Bank’s performance, for the Bank Year, meets targets
set by the Board of Directors relating to (i) Bank income, (ii) Bank asset growth, and (iii) Bank asset quality (the “Three Performance Targets”). The Three Performance Targets will be set annually in such a
manner as to provide Bank management with reasonable notice of the Targets (the parties further acknowledge, in the case of 2006, that the Three Performance Targets for this Bank Year have already been set by the Board, or if not already set by the
Board, will be set promptly following execution of this Agreement). All Three Performance Targets must be reached for the Executive to be eligible for any part of the Annual Bonus; in other words, if the Bank reaches two of the Three Performance
Targets, but not the third Target, then no Annual Bonus would be paid for that Bank Year. If the Executive meets the Three Performance Targets for a Bank Year, the Board of Directors may also choose to award her, in its complete discretion, an
additional performance bonus (the “Additional Bonus”) for that Bank Year. The Additional Bonus is intended to reward performance by the Bank substantially exceeding the Three Performance Targets set in connection with the
Annual Bonus, or to recognize achievements relating to other areas of leadership or Bank or Company administration. In deciding whether the Executive should be awarded an Additional Bonus, and if so, the amount of any Additional Bonus, and in
deciding the Three Performance Targets for each Bank Year, the Board of Directors shall exercise its discretion reasonably and in good faith. Annual Bonuses (if any) and Additional Bonuses (if any) shall be paid to the Executive in the January
following the end of the Bank Year. 
 (c) Equity-Based Compensation. In addition to the Base Salary and
the Annual Bonus and the Additional Bonus payable as hereinabove provided, the Executive shall be entitled to participate in and receive benefits under any and all equity based compensation plans or programs (including, but not limited to, any
incentive compensation plans or programs, stock option and appreciation rights plans, and restricted stock plans) as may from time to time be maintained by, or cover employees of, the Company and Bank, in accordance with the terms and conditions of
such plans and programs, and consistent with the Company’s and the Bank’s customary practices. The Executive shall be awarded such equity-based compensation in January of each year, consistent with industry standards and awards to other
employees of the Bank and Company. The Company and the Bank agree to make reasonable efforts to adopt appropriate plans and programs relating to equity-based compensation. 
 (d) Expenses. The Executive shall promptly report, and the Company or the Bank shall promptly reimburse, all
reasonable business expenses incurred by the Executive in connection with her work pursuant to this Agreement; provided, however, that all such expenses 

  

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must be appropriately incurred and itemized in accordance with the policies and procedures established by the Bank and the Company. Where consistent with
Bank or Company policy, reasonable business expenses may include expenditures for entertainment, seminars, speeches, meetings, and travel, where such expenses are intended to promote the interests of the Bank or the Company, or for the professional
development of the Executive. The Bank or the Company may issue the Executive a credit card for her use in incurring business expenses. 
 (e) Other Benefits. The Executive shall be provided all retirement benefits (401k plan, SERP, etc.), insurance benefits (including group life, group health (including hospitalization, medical and
major medical), dental, accident, short-term disability, and long-term disability insurance plan benefits), and any other benefits enjoyed by Bank or Company employees, for which she is eligible in accordance with the terms of plans and applicable
law. Otherwise, she shall receive all fringe benefits of employment on the same basis as other similarly situated Company and Bank employees. 
 (f) Vacation and Holidays. The Executive shall be entitled to no less than four (4) weeks of paid vacation each year as determined annually by the Board of Directors. Vacation days shall be
scheduled in accordance with Bank and Company policy. Vacation benefits shall also be earned, accrued, carried over and paid in accordance with Bank and Company policies. In addition, the Executive shall enjoy all paid Holidays provided to Bank and
Company employees. 
 (g) Office and Support Staff. The Executive shall be provided with office space,
secretarial/administrative assistance, and such other facilities and services as are provided generally to similarly situated executive officers in similar financial institutions. 
 (h) Automobile Allowance. The Executive shall be provided with an automobile allowance of $600.00 per month. In the
event of termination of employment, except for death, the Executive will receive her automobile allowance for the entire month in which the termination takes place. 
 (i) Memberships. The Bank or the Company agree to pay for all of the Executive’s memberships in organizations or
clubs, including all monthly dues, where the Executive is already a member of such club or organization as of the Commencement Date; provided, however, that all such memberships shall have been approved by the Chief Executive Officer of the Company
and that the total annual cost of such memberships to the Company shall not exceed $5,000 without the specific prior approval of the Board of Directors.  
 (j) Key Man Life Insurance. The Executive agrees that the Bank or the Company may, while she is employed pursuant to
this Agreement, apply for and purchase in the name of the Company, the Bank, or any of the Affiliated Companies, a life insurance policy insuring the life of the Executive in an amount to be determined by the Company and the Bank, in their sole
discretion. Executive agrees to cooperate with the Bank and the Company in obtaining such insurance by executing all necessary documents including applications and health insurance questionnaires, and shall submit to such medical examinations as may
be required in connection with such insurance. The life insurance described by this Section 4(j) shall be solely 

  

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for the benefit of the Company, Bank or Affiliated Companies, and the Executive shall have no interest, right, or claim to such insurance. 

 5. Tax Gross-Up. 
 (a) If any of the payments provided for in this Agreement (the “Contract Payments”) or any portion of the Total Payments (as defined below) will be subject to the tax (the “Excise
Tax”) imposed by Section 4999 of the Code, the Company or the Bank shall pay to the Executive, no later than the fifth day following the earlier of the date on which such payment is made and the Termination Date, an additional
amount (the “Gross-Up Payment”) such that the net amount retained by the Executive, after deduction of any Excise Tax on the Contract Payments and such other Total Payments and any federal and state and local income,
employment and other taxes and Excise Tax upon the payment provided for by this subsection, shall be equal to the Contract Payments and such other Total Payments. 
 (b) For purposes of determining whether any payments will be subject to the Excise Tax and the amount of such Excise Tax, (i) any
payments or benefits received or to be received by the Executive in connection with an event described in Section 280(G)(b)(2)(A)(i) of the Code (hereinafter, a “Section 280 Event”), or the Executive’s termination
of employment pursuant to the terms of any plan, arrangement or agreement with the Company or the Bank, their successors, any person whose actions result in a Section 280 Event or any person affiliated with the Company or the Bank or such
person (together with the Contract Payments, the “Total Payments”), shall be treated as “parachute payments” within the meaning of Section 280G(b)(2) of the Code except to the extent that, in the opinion of tax
counsel selected by the Company’s independent auditors and acceptable to the Executive, the Total Payments do not constitute parachute payments, (ii) all “excess parachute payments” within the meaning of Section 280G(b)(1)
shall be treated as subject to the Excise Tax except to the extent that, in the opinion of such tax counsel, such excess parachute payments represent reasonable compensation for services actually rendered within the meaning of
Section 280G(b)(4)(B) of the Code in excess of the base amount within the meaning of Section 280G(b)(3) of the Code, or are otherwise not subject to the Excise Tax, and (iii) the value of any noncash benefits or any deferred payment
or benefit shall be determined by the Company’s or Bank’s independent auditors in accordance with the principles of Sections 280G(d)(3) and (4) of the Code. For purposes of determining the amount of the Gross-Up Payment, the
Executive shall be deemed to pay federal income taxes at the highest marginal rate of federal income taxation in the calendar year in which the Gross-Up Payment is to be made and state and local income taxes at the highest marginal rate of taxation
in the state and locality of the Executive’s residence on the Termination Date, net of the maximum reduction in federal income taxes which could be obtained from deductions of such state and local taxes. 
 (c) In the event that the Excise Tax is subsequently determined to be less than the amount taken into account hereunder at the time of
termination of the Executive’s employment, the Executive shall repay to the Company or the Bank at the time that the amount of such reduction in Excise Tax is finally determined, the portion of the Gross-Up Payment attributable to such
reduction (plus the portion of the Gross-Up Payment attributable to the Excise Tax and federal and state and local income tax imposed on the Gross-Up Payment being repaid by the Executive if such repayment results in a reduction in Excise Tax and/or
a federal 

  

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and state and local income tax deduction) plus interest on the amount of such repayment at the rate provided in Section 1274(b)(2)(B) of the Code. In
the event that the Excise Tax is determined to exceed the amount taken into account hereunder at the time of the termination of the Executive’s employment (including by reasons of any payment the existence or amount of which cannot be
determined at the time of the Gross-Up Payment), the Company or the Bank shall make an additional Gross-Up Payment in respect of such excess (plus any interest payable with respect to such excess) at the time that the amount of such excess is fully
determined. 
 (d) For purposes of this Section 5, any reference to the Executive shall be deemed to include the
Executive’s surviving spouse, estate, and/or beneficiaries with respect to payments or adjustments provided by this Section 5. 
 6. Termination. This Agreement may be terminated, or will automatically terminate, as follows: 
 (a) Death or Retirement. The Executive’s employment hereunder shall terminate automatically upon the Executive’s death or Retirement (as used in this Agreement, the term “Retirement”
shall mean a separation of employment where the Executive voluntarily withdraws from her professional career, thereby severing employment with the Bank and the Company, in accordance with any retirement policies adopted by the Bank or the Company).

 (b) Disability. If the Company and the Bank determine in good faith that the Executive is
disabled, using the definition of Disability below, they may give to the Executive a written notice of Disability. The Executive’s employment shall automatically terminate effective on the 30th day after such notice to the Executive (the
“Disability Effective Date”), unless, within thirty (30) days after such notice, the Executive has returned to effective full-time performance of her duties. The Executive shall continue to receive her Base Salary, and
other forms of compensation as provided by this Agreement, until the Disability Effective Date, notwithstanding her inability to render services to the Company and the Bank; provided, however, that to the extent that the Executive receives
compensation or benefits under any short-term or long-term disability insurance plan sponsored or provided by the Company or the Bank, or under any Bank or Company workers compensation policy, her Base Salary may be reduced by the amount of such
compensation or benefits. For purposes of this Agreement, “Disability” shall mean the absence of the Executive from her duties with the Company on a full-time basis, after all vacation days have been exhausted, for ninety
(90) consecutive days or for a cumulative period of 120 days during any twelve (12) consecutive calendar months as a result of incapacity due to mental or physical illness. If there is a disagreement as to whether or not the Executive is
incapacitated from work, or whether or not she can effectively perform her job, there shall be a determination as to the Executive’s ability to perform the duties and responsibilities of her position by a physician selected by the Company and
the Bank, and who is reasonably acceptable to the Executive or the Executive’s legal representative. 
  

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 (c) Cause. The Company and the Bank may terminate the
Executive’s employment hereunder with or without Cause, through a Notice of Termination. For purposes of this Agreement, “Cause” shall mean, and shall be limited to: 
 (i) the failure or refusal of the Executive to render services under this Agreement (other than failure due to Disability), or some other
material breach of this Agreement by the Executive, but only after the Executive is provided written notice of her alleged failure or refusal or breach, and an opportunity of two weeks to cure the alleged failure or refusal or breach; 
 (ii) an act or omission by the Executive which would be either a felony under applicable law, or a misdemeanor involving moral turpitude
under applicable law, regardless of whether or not the Executive is prosecuted for this crime, and if prosecuted, regardless of the eventual disposition of the case; provided, however, that in the event there is not a criminal conviction or other
adjudication of guilt, there must be sufficient evidence of a crime by the Executive, admissible in a court of law, to prove, by a preponderance of the evidence, that the Executive committed such acts; 
 (iii) a serious act of misconduct in connection with work by the Executive, including, but not limited to, falsification of Bank or
Company documents, dishonesty in connection with Company business, misrepresentations to the Board of Directors, or breach of the Executive’s duty of loyalty or other fiduciary duties owed to the Bank or to the Company. 
 (d) Good Reason. The Executive may terminate her employment hereunder, with or without Good Reason, through a Notice
of Termination. For purposes of this Agreement, and in the absence of written consent of the Executive, “Good Reason” shall mean and shall be limited to: 
 (i) a material adverse change in the Executive’s position (including job titles and reporting requirements), but only after the
Executive provides the Bank and the Company with written notice of the alleged adverse change, and an opportunity of two weeks to cure the alleged adverse change; 
 (ii) the relocation of the Executive to any location outside of the Florida counties of Manatee, Pinellas, Hillsborough, or Sarasota; or

 (iii) a material breach of this Agreement by the Company or the Bank, including but not limited to a failure to require a
successor employer to assume this Agreement as required by Section 12(d), but only after the Executive provides the Bank and the Company with written notice of the alleged breach, and an opportunity of two weeks to cure the alleged breach.

  

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 (e) Change of Control. Notwithstanding any other provision of this
Agreement, upon the Occurrence of a Change of Control, the Executive shall have the automatic right, in the Executive’s sole discretion, to voluntarily terminate her employment with the Bank and the Company at any time commencing on the date of
Occurrence of a Change of Control, as defined below, and ending on the day before the first annual anniversary of such date, by giving a Notice of Termination. For purposes of this Agreement, a “Change of Control” shall be
deemed to have occurred if: 
 (i) any individual, entity, or group (within the meaning of Sections 13(d)(3) or 14(d)(2) of
the Exchange Act), is or becomes, directly or indirectly, the “beneficial owner” (as defined by Rule 13d-3 promulgated under the Securities Exchange Act of 1934 (“Exchange Act”)) of 25% or more of the combined
voting power of the then outstanding securities of the Company, entitled to vote generally in the election of Company Directors (“Voting Securities”); provided, however, that any acquisition by the following will not
constitute a Change of Control: 
 (A) the Bank or the Company or any Affiliated Companies, 
 (B) any employee benefit plan (or related trust) of the Bank, the Company or any Affiliated Companies, or 
 (C) any corporation, bank, or other financial institution with respect to which, following such acquisition, more than 50% of the
combined voting power of the outstanding voting securities of such corporation entitled to vote generally in the election of directors is then beneficially owned by the persons who were the beneficial owners of the Voting Securities immediately
prior to such acquisition in substantially the same proportion as their ownership immediately prior to such acquisition of the Voting Securities; or 
 (ii)(A) a tender offer or an exchange offer is made to acquire securities of the Company whereby following such offer the offerees will hold, control, or otherwise have the direct or indirect power to exercise voting
control over 50% or more of the Voting Securities, or (B) Voting Securities are first purchased pursuant to any other tender or exchange offer; or 
 (iii) as a result of a tender offer or exchange offer for the purchase of securities of the Company (other than such an offer by the Company for its own securities), or as a result of a proxy contest, merger,
consolidation, or sale of assets, or as a result of a combination of the foregoing, during any period of two consecutive years, individuals who, at the beginning of such period constitute the Company Board of Directors, plus any new Directors of the
Company whose election or nomination for election by the Company’s stockholders was or is approved by a vote of at least two-thirds of the Directors of the Company then still in office who either were Directors of the Company at the beginning
of such two year period or whose election or nomination for election was previously so approved (but excluding for this purpose, any individual whose initial assumption of office was or is in connection with the actual or threatened election contest
relating to the election of Directors of the Company (as such term is used in Rule 14a-11 of Regulation 14A promulgated under the Exchange Act)), cease for any reason during such two year period to constitute at least two-thirds of the members of
the Board; or 
 (iv) the stockholders of the Company approve a reorganization, merger, consolidation, or other combination,
with or into any other corporation or entity regardless of which entity is the survivor, other than a reorganization, merger, consolidation, or other combination, which would result in the Voting Securities 

  

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outstanding immediately prior thereto continuing to represent (either by remaining outstanding or being converted into Voting Securities of the surviving
entity) at least 60% of the combined voting power of the Voting Securities or of the voting securities of the surviving entity outstanding immediately after such reorganization, merger, consolidation, or other combination; or 
 (v) the stockholders of the Company approve a plan of liquidation or winding-up of the Company or an agreement for the sale or disposition
by the Company of all or substantially all of the Company’s assets, or any distribution to security holders of assets of the Company having a value equal to 30% or more of the total value of all assets of the Company. 
 (f) Occurrence of a Change of Control. A Change of Control will be deemed to have occurred on the following
dates: 
 (i) with respect to any acquisition referred to in Section 6(e)(i) above, the date on which the acquisition of
such percentage shall have been completed; 
 (ii) with respect to a tender or exchange offer, the date the offer referred to
in Section 6(e)(ii)(A) above is made public or when documents are filed with the Securities and Exchange Commission in connection therewith pursuant to Section 14(d) of the Exchange Act, or the date of the purchase referenced in
Section 6(e)(ii)(B); 
 (iii) with respect to a change in the composition of the Company Board of Directors referred to
in Section 6(e)(iii), the date on which such change is adopted or is otherwise effective, whichever first occurs; or 
 (iv) with respect to any stockholder approval referred to in Section 6(e)(iv) or (v), the date of any approval. 
 7.
Termination Procedure. 
 (a) Notice of Termination. Any termination of the Executive’s
employment by one party shall be communicated by written Notice of Termination to the other party hereto in accordance with Section 12(a) of this Agreement. For purposes of this Agreement, a “Notice of Termination” shall
mean a notice that shall (i) indicate the specific termination provision in this Agreement relied upon, (ii) to the extent applicable, sets forth in reasonable detail the facts and circumstances claimed to provide a basis for termination
of the Executive’s employment under the provision so indicated, and (iii) if the Termination Date (as defined in Section 2(a) of this Agreement) is other than the date of receipt of such notice, specify the Executive’s last day
of work for the Bank and the Company pursuant to this Agreement (which date should be not more than thirty (30) days after the giving of such notice). The failure by the Executive or the Company or the Bank to set forth in the Notice of
Termination any fact or circumstance which contributes to a showing of Good Reason or Cause shall not waive any right of the Executive or the Company or the Bank, respectively, from asserting such fact or circumstance in enforcing the
Executive’s, the Company’s or the Bank’s rights hereunder. Furthermore, although the Executive has the right to give a Notice of Termination for Good Reason under certain circumstances, and although the Bank and the Company have the
right to give a Notice of 

  

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Termination for Cause under certain circumstances, the fact that conduct, acts, or events may be characterized as Good Reason by the Executive, or as Cause
by the Bank and the Company, shall not represent a determination binding on the other party as to whether or not the conduct, acts, or events in question actually amounted to Good Reason or Good Cause. 
 (b) Termination Date. The Termination Date shall be determined as follows: (i) if the Executive’s
employment is automatically terminated by reason of death, Retirement, or Disability, the Termination Date shall be on the date of death or Retirement of the Executive or the Disability Effective Date, as the case may be, (ii) if the
Executive’s employment is terminated by the Company with or without Cause, or by the Executive with or without Good Reason, the Termination Date shall be the Date of Notice of Termination, or any later date specified therein, as the case may
be, (iii) if the Executive’s employment is terminated due to a Change of Control, the Termination Date shall be the Date of Notice of Termination from the Executive, or any later date specified therein, as long as that date is not more
than one (1) year from the date of Occurrence of the Change of Control, as defined in Section 6(f) of this Agreement. The “Date of Notice of Termination” shall mean a date of a Notice of Termination determined by
reference to Section 12(a) of this Agreement, governing notices. 
 (c) Release. The
Executive, in order to receive the compensation provided by Sections 8(a)(ii) or 8(d)(ii) of this Agreement, must first sign a comprehensive release of any claims against the Company, the Bank, and any Affiliated Companies, in a form, and of a
scope, reasonably acceptable to the Company and the Bank. 
 8. Obligations of the Company Upon Termination. 
 (a) Terminations without Cause or for Good Reason. If the Executive shall terminate her employment for Good Reason
(other than a Change of Control), or if the Bank and the Company shall terminate the Executive’s employment other than for Cause (excluding by reason of Executive’s death, Retirement, or Disability), the Executive shall be entitled to the
following compensation and benefits, in lieu of severance pay otherwise paid to Company or Bank employees at separation: 
 (i) The Bank, the Company or the Affiliated Companies shall pay to the Executive, in a lump sum in cash, within thirty (30) days after the Termination Date, the sum of (A) the Executive’s annual Base Salary and benefits
(including reimbursement of business expenses) through the Termination Date to the extent not theretofore paid, (B) all compensation for the Executive’s accrued but unused vacation days, but only if the Executive would be entitled to pay
for accrued vacation at termination under Bank or Company policy, and (C) a pro rata portion of the Executive’s Annual Bonus, to be determined by the Board of Directors, exercising discretion reasonably and in good faith
(cumulatively, the Executive’s “Full Accrued Compensation/Benefits”); 
 (ii) The Bank, the
Company or the Affiliated Companies shall pay to the Executive, in a lump sum in cash, within thirty (30) days after the Termination Date, an amount equivalent to all Base Salary which would have been paid to the Executive from the Termination
Date until expiration of the Term of this Agreement (i.e., a sum equivalent to three years of the Executive’s current Base Salary); 
  

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 (iii) To the extent permitted by the Coast Financial Holdings, Inc. 2003 Stock Option
Plan, the Coast Financial Holdings, Inc. 2005 Stock Incentive Plan, the Coast Financial Holdings, Inc. 2006 Stock Incentive Plan, and any future equity incentive plans adopted by the Bank or the Company (collectively, “the
Plans”), and any grants to the Executive made pursuant to the Plans, (A) all of the Executive’s stock options and SARs shall become fully vested as of the Termination Date, (B) all of the Executive’s stock options
and SARs shall be fully exercisable as of the Termination Date, and (C) the remaining portion of any restriction period applicable to restricted stock issued to the Executive pursuant to the Plans shall be terminated; 
 (iv) Any benefits due and owing to the Executive under Bank or Company employee benefit plans, welfare plans, or retirement plans, as more
specifically described in Sections 4(c) and (e) of this Agreement, shall be provided to the Executive in accordance with the terms of those plans, and the Executive’s beneficiary elections under those plans (the Executive’s
“Other Plan Benefits”); and 
 (v) At the Executive’s election and expense, she shall be provided
with group insurance continuation under COBRA. 
 (b) Terminations for Death, Disability or Retirement.
If this Agreement is automatically terminated because of the Executive’s death, Disability or Retirement, the Executive shall be entitled to the following compensation and benefits, in addition to any severance pay the Bank or Company may
choose to award him, her legal representative(s), or her estate, in their complete discretion: 
 (i) The Bank, the Company or
the Affiliated Companies shall pay to the Executive, her legal representatives, or her estate, in a lump sum in cash, within thirty (30) days after the Termination Date, her Full Accrued Compensation/Benefits; 
 (ii) To the extent permitted by the Plans, and any grants to the Executive made pursuant to the Plans, (A) all of the
Executive’s stock options and SARs shall become fully vested as of the Termination Date, (B) all of the Executive’s stock options and SARs shall be fully exercisable as of the Termination Date, and (C) the remaining portion of
any restriction period applicable to restricted stock issued to the Executive pursuant to the Plans shall be terminated; 
 (iii) The Executive shall be provided with her Other Plan Benefits; and 
 (iv) At the Executive’s election and
expense, she shall be provided with group insurance continuation under COBRA. 
 (c) Discharge for Cause,
Resignation without Good Reason. If the Executive is terminated for Cause, or if the Executive resigns without Good Reason (other than for a Change of Control), the Bank, the Company or the Affiliated Companies shall only pay or provide to
the Executive her annual Base Salary and benefits (including reimbursement of business expenses) through the Termination Date to the extent not theretofore paid, her Other Plan Benefits, and at her election and expense, group insurance continuation
under COBRA. 
  

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 (d) Resignation after a Change of Control. If the Executive
exercises her right to resign following a Change of Control, as provided by Section 6(e) of this Agreement, the Executive shall only be entitled to the following compensation and benefits, in lieu of severance pay otherwise paid to Company or
Bank employees at separation: 
 (i) The Bank, the Company or the Affiliated Companies shall pay to the Executive, in a lump
sum in cash, within thirty (30) days after the Termination Date, her Full Accrued Compensation/Benefits. 
 (ii) The
Bank, the Company or the Affiliated Companies shall pay to the Executive, in a lump sum in cash, within thirty (30) days after the Termination Date, an amount equivalent to 2.99 times the Executive’s current Base Salary; 
 (iii) To the extent permitted by the Plans, and any grants to the Executive made pursuant to the Plans, (A) all of the
Executive’s stock options and SARs shall become fully vested as of the Termination Date, (B) all of the Executive’s stock options and SARs shall be fully exercisable as of the Termination Date, and (C) the remaining portion of
any restriction period applicable to restricted stock issued to the Executive pursuant to the Plans shall be terminated; 
 (iv) The Executive shall be provided with her Other Plan Benefits; 
 (v) At the Executive’s election and
expense, she shall be provided with group insurance continuation under COBRA. 
 (e) No Mitigation Obligation.
In no event shall the Executive be obligated to seek other employment or take any other action by way of mitigation of the amounts payable to the Executive under any of the provisions of this Agreement. More specifically, any amounts due
under Sections 8(a)(ii) and 8(d)(ii) of this Agreement shall not be reduced depending on whether or not the Executive obtains other employment, or whether or not she seeks other employment. 
 9. Confidential Information; Protective Covenants. 
 (a) Confidential Information. The Executive agrees to hold in strict confidence and not divulge to others nor make
use thereof, except for the purposes of the Bank, the Company, or Affiliated Companies, both during and after the Executive’s employment with the Bank and the Company, any and all Proprietary Information or Client Information or other
confidential information that the Executive obtains in the course of employment with the Company and the Bank. All files, letters, memoranda, reports, sketches, drawings, notebooks, “electronic transmissions” or other written material or
“electronically transmitted” materials containing such information, that comes into the Executive’s custody or possession, shall be and are the exclusive property of the Company and the Bank, or their Affiliated Companies, to be used
by the Executive only in the performance of her duties pursuant to this Agreement, and, upon termination of Company and Bank employment, the Executive shall deliver to the Company or the Bank or Affiliated Companies all such records and copies
thereof in the Executive’s custody or possession. “Proprietary Information” means information, not generally known, about the Company and the Bank’s and any Affiliated Companies’ business, work, 
  

 12 

 
procedures and “know-how,” including information relating to systems, forms, customers, clients, vendors, purchasing, marketing, selling, and
accounting. “Client Information” means all information about clients of the Bank regarded as confidential in nature under generally accepted banking standards in Florida. “Electronic transmission” or
“electronically transmitted” means any process of communication not directly involving the physical transfer of paper that is suitable for retention, retrieval, and reproduction of information by the recipient including,
without limitation, e-mail communications and other transmissions through the internet, telegrams, cablegrams, and wire transfers. 
 (b) Covenant Not To Compete. The Executive agrees, for a period of two years following her Termination Date (regardless of whether termination of her Bank and Company employment was voluntary or involuntary, with or
without Cause, or with or without Good Reason), not to engage, either directly or indirectly, in the business of banking, in the Bank’s Market Area. “Engaging” includes, but is not limited to, being employed by,
contracting with, working for, owning (in whole or in part), providing services to or for, lending assistance to or for, or consulting with or for the benefit of any legal or natural person; provided, however, that the Executive may own shares of
stock in any banking corporation whose shares of stock are registered under Section 12 of the Exchange Act, as long as she acquired the shares for investment purposes only and further provided that the Executive does not own, directly or
indirectly, more than two percent (2%) of the issued and outstanding shares of any class of stock of such corporation. The “Bank’s Market Area” is defined as comprising all Florida counties where the Bank has
offices at the time of the Termination Date, or where the Bank has a definitive plan to locate new offices within two years following the Termination Date. 
 (c) Covenants Relating to Customers and Prospective Customers. The Executive agrees, for a period of two years following her Termination Date (regardless of whether termination of her Bank and
Company employment was voluntary or involuntary, with or without Cause, or with or without Good Reason), and only as to the Bank’s Market Area, not to do any of the following: (i) solicit (directly or indirectly) any Bank or Company
customers, or the customers of any Affiliated Companies, to do business with a legal or natural person other than the Bank, the Company, or the Affiliated Companies; (ii) solicit (directly or indirectly) any prospective customers of the Bank,
the Company or the Affiliated Companies to do business with a legal or natural person other than the Bank, the Company, or the Affiliated Companies; and (iii) solicit (directly or indirectly) any customers to cease doing business with the Bank,
the Company or the Affiliated Companies. 
 (d) Covenants Relating to Employees. The Executive agrees,
for a period of two years following her Termination Date (regardless of whether termination of her Bank and Company employment was voluntary or involuntary, with or without Cause, or with or without Good Reason), that the Executive will not solicit
or attempt to persuade Bank or Company or Affiliated Company employees to terminate their employment, and accept other employment within the Bank’s Market Area. This covenant specifically prohibits solicitation of employees, in the event of
termination of the Executive’s employment, to work with or for the Executive in a banking business in the Bank’s Market Area during the term of the covenant. 
 (e) Covenant of Duty of Loyalty. The Executive agrees that during the time that she is working for the Company and
the Bank, she will owe the Company, the Bank, and 

  

 13 

 
any Affiliated Companies a duty of loyalty, and that as part of this duty of loyalty, she shall not engage in any form of business activity representing
competition with the Bank, the Company or any Affiliated Companies. Similarly, the Executive, while employed by the Bank and the Company, shall not appropriate for the Executive’s own use any business opportunity for the Bank, the Company or
the Affiliated Companies, or otherwise engage in conduct where the Executive’s own business interests are developed instead of the business interests of the Company, the Bank and the Affiliated Companies. 
 (f) Related Provisions. The Executive agrees that the rights of the Company and the Bank provided in Section 9
of this Agreement are special, unique and of extraordinary character and that the Bank and the Company would be without an adequate remedy at law if the Executive violated any of the covenants set forth above. Accordingly, the Executive agrees that
the Bank and the Company shall be entitled to injunctive relief to enforce such covenants. It is also agreed that each of the covenants set forth in Section 9 of this Agreement is an agreement independent of any other provisions in this
Agreement, and that if any such covenant is held invalid, void or unenforceable, such invalidity, voidness or unenforceability shall not render any other provision of this Agreement unenforceable. It is the parties’ intent that any covenant
held overbroad by any court be enforced to the maximum extent deemed reasonable by that court. The parties also agree that in the event of breach of one of the covenants in this Section 9 by the Executive, the time period associated with the
breached covenant shall be extended by the length of time during which the Executive is acting in breach of the covenant. The existence of any claim of the Executive against the Company or the Bank, whether based on this Agreement otherwise, shall
not constitute a defense to the enforcement by the Company or the Bank of the Section 9 covenants. 
 10. Indemnification.
The Company, the Bank, or the Affiliated Companies shall indemnify the Executive to the fullest extent permitted by the laws of the State of Florida in effect at that time, or by the articles of incorporation and bylaws of the Company, the Bank, or
the Affiliated Companies, whichever affords the greater protection to the Executive. During that period of time that the Executive is employed by the Bank and the Company, the Company, the Bank or the Affiliated Companies agree to maintain
reasonable directors’ and officers’ insurance covering or applicable to all of Executive’s service as an officer or director pursuant to this Agreement, where such service is rendered to the Company, the Bank, or any of the Affiliated
Companies. 
 11. Non-Exclusivity of Rights. Except as specifically provided, nothing in this Agreement shall prevent or
limit the Executive’s continuing or future participation in any plan, program, policy or practice provided by the Bank or the Company or any of the Affiliated Companies and for which the Executive may qualify, nor shall anything herein limit or
otherwise affect such rights as the Executive may have under any contract or agreement with the Company or the Bank or any of the Affiliated Companies, other than the Prior Agreement, which is superseded by this Agreement. Amounts which are vested
benefits or which the Executive is otherwise entitled to receive under any plan, policy, practice or program of or any contract or agreement with the Bank or the Company or any of the Affiliated Companies at or subsequent to the Termination Date
shall be payable in accordance with such plan, policy, practice or program or contract or agreement except as explicitly modified by this Agreement. 
  

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 12. General Provisions. 
 (a) Notices. All notices, demands, and other communications which are required or may be given under this
Agreement shall be in writing and shall be deemed to have been duly given when delivered in person or one day after mailing by reputable overnight courier, postage prepaid, addressed as follows: 
 If to the Executive: 
 Ms. Anne V.
Lee 
 1301 – 6th Avenue West, Suite 300 
 Bradenton, Florida 34205 
 If to the Bank and Company: 
 Coast Financial
Holdings, Inc. 
 1301 – 6th Avenue West, Suite 300 
 Bradenton, Florida 34205 
 Attention: Chairman of the Board of Directors 
 or such other
address as any party may have furnished to the others in writing in accordance herewith, except that notices of change of address shall be effective only upon receipt. 
 (b) Severability. The invalidity or unenforceability of any provision or provisions of this Agreement shall not
affect the validity or enforceability of any other provision of this Agreement, which shall remain in full force and effect. 
 (c) Assignment; Payments in event of Executive’s Death. This Agreement may not be assigned by the Executive. This Agreement may be assigned by the Company or the Bank, and shall inure to the benefit of their
successors and assigns (accordingly, the Bank’s and the Company’s rights under Section 9 of this Agreement may be transferred or assigned to another business purchasing the assets or stock of the Bank or the Company). All rights of
the Executive hereunder shall inure to the benefit of and be enforceable by the Executive’s personal or legal representatives, executors, administrators, successors, heirs, distributees, devisees and legatees. If the Executive should die while
any amounts would still be payable to her hereunder if she had continued to live, all such amounts unless otherwise provided herein shall be paid in accordance with the terms of this Agreement to the Executive’s devisee, legatee, or other
designee or, if there be no such designee, to the Executive’s estate. 
 (d) Assumption of Agreement by
Successors to the Company and Bank. The Company and the Bank will require any successor (whether direct or indirect, by purchase, merger, consolidation, or otherwise) to all or substantially all of the business and/or assets of the Company
or the Bank to expressly assume and agree to perform this Agreement in the same manner and to the same extent that the Company and the Bank would be required to perform it if no such succession had taken place. Failure of the Company and the Bank to
obtain such assumption and agreement prior to the effectiveness of any such succession shall be a breach of this Agreement and shall entitle the Executive to resign for Good Reason. 
  

 15 

 (e) Entire Agreement; Amendment or Modification. This Agreement
contains the entire agreement between the parties hereto with respect to the subject matter hereof. Accordingly, as of the Commencement Date, the Prior Agreement is hereby amended and superseded in its entirety by the terms and provisions of this
Agreement. No provision of this Agreement may be amended, waived, modified, or discharged otherwise than by written agreement executed by the parties hereto or their respective successors and legal representatives. 
 (f) Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of
Florida without giving effect to the principles of conflicts of law thereof. 
 (g) Withholdings. The
Company, the Bank and any Affiliated Companies may withhold from any amount payable under this Agreement such federal, state, local, or foreign taxes as shall be required to be withheld pursuant to any applicable law or regulation. 
 (h) Waiver. The failure of either the Executive or the Company, the Bank or the Affiliated Companies to insist on
strict compliance with any provision of this Agreement or the failure to assert any rights which the Executive, the Bank, the Company, and the Affiliated Companies may have hereunder shall not be deemed to be a waiver of such provision or right or
any other provision or right of this Agreement, unless otherwise agreed to in writing by the party waiving such provision or right. 
 (i) Attorney’s Fees. The prevailing party in any action brought under this Agreement shall be entitled to an award of reasonable attorneys’ fees, and all costs of action. 
 (j) Execution in Counterparts. For the convenience of the parties this Agreement may be executed in one or more
counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. 
 (k) Pronouns. All pronouns and variations thereof shall be deemed to refer to the masculine, feminine, neuter, singular or plural, as the identity thereof shall require. 
  

 16 

 IN WITNESS WHEREOF, the parties have executed this Agreement on the date first above written.

  

			
	COAST FINANCIAL HOLDINGS, INC.,
	a Florida corporation, and
	
	COAST BANK OF FLORIDA, a Florida state chartered bank
		
	By:	 	  
		 	James K. Toomey,
		 	Chairman of the Board of Directors
	
	EXECUTIVE
	
	  
		 	Anne V. Lee

  

 17Indemnification Agreement

 EXHIBIT 10.3 
 INDEMNIFICATION AGREEMENT 
 INDEMNIFICATION AGREEMENT
(“Agreement”) made and entered into as of July 26, 2006, by and between COAST FINANCIAL HOLDINGS, INC., a Florida corporation (the
“Corporation”), and ANNE V. LEE (the “Indemnitee”). 
 RECITALS 
 A. The Indemnitee is either a member of the board of directors of the Corporation (the “Board of
Directors”) or an officer of the Corporation, or both, and in such capacity or capacities, or otherwise as an Agent (as defined below) of the Corporation, is performing a valuable service for the Corporation. 
 B. Highly competent persons are becoming more reluctant to serve publicly-held corporations as directors or officers or in other capacities unless they
are provided with adequate protection through insurance or adequate indemnification against risks of claims and actions against them arising out of their service to, and activities on behalf of, such corporations. 
 C. Although the Board of Directors has determined that, in order to attract and retain qualified persons, the Corporation will attempt to maintain on an
ongoing basis, at its sole expense, liability insurance to protect directors, officers, and certain Agents serving the Corporation and its subsidiaries from certain liabilities, the Corporation and the Indemnitee recognize the increasing difficulty
in obtaining liability insurance for directors, officers and agents of a publicly-traded corporation at a reasonable cost. 
 D. The Board of
Directors has determined that the difficulty in attracting and retaining such persons is detrimental to the best interests of the Corporation’s shareholders and that the Corporation should act to assure such persons that there will be increased
certainty of such protection in the future. 
 E. It is reasonable, prudent, and necessary for the Corporation to obligate itself by contract
to indemnify, and to advance expenses on behalf of, such persons to the fullest extent permitted by applicable law so that they will serve or continue to serve the Corporation free from undue concern that they will not be so protected. 

F. The Corporation’s bylaws (“Bylaws”) expressly allow and require the Corporation to indemnify its directors, officers,
and certain agents to the maximum extent permitted under Florida law. 
 G. The Corporation desires the benefits of having the Indemnitee
serve as a member of the Board of Directors or an officer, or both, or as an Agent, secure in the knowledge that any expenses, liability and losses incurred by him or her in his or her good faith service to the Corporation will be borne by the
Corporation or its successors and assigns. 
 H. The Indemnitee is willing to serve, continue to serve, or to undertake additional service
for or on behalf of the Corporation, on the condition that he or she be so indemnified as provided in this Agreement. 

 I. This Agreement is intended to supplement and enhance the indemnity provisions under the
Corporation’s Articles of Incorporation (“Articles of Incorporation”) and the Bylaws and any resolutions adopted pursuant thereto, and shall not be deemed a substitute therefor, nor to diminish or abrogate any rights of
Indemnitee thereunder. 
 NOW, THEREFORE, in consideration of the premises and the covenants contained herein, the Corporation and
Indemnitee do hereby covenant and agree as follows: 
 1. Services to the Corporation. The Indemnitee agrees to serve or continue to
serve as a director or officer of the Corporation or any subsidiary of the Corporation, or otherwise as an Agent of the Corporation, for so long as Indemnitee is duly elected or appointed and qualified in accordance with the applicable provisions of
the Articles of Incorporation and Bylaws, or otherwise employed by the Corporation, and until such time as Indemnitee tenders his or her resignation in writing, fails to stand for reelection, is removed as a director and/or officer, or his or her
employment terminates, as the case may be. The Indemnitee may from time to time also perform other services at the request of, or for the convenience of, or otherwise benefiting the Corporation or any Subsidiary or Affiliate. This Agreement shall
not impose any obligation on the Indemnitee or the Corporation to continue the Indemnitee’s position with the Corporation or any Subsidiary or Affiliate beyond any period otherwise applicable. Accordingly, the Indemnitee may resign or be
removed from such position at any time for and for reason (subject to any other contractual obligation or other obligation imposed by operation of law), in which event the Corporation or any Subsidiary or Affiliate shall have no obligation under
this Agreement to continue Indemnitee in any such position. 
 2. Definitions. For purposes of this Agreement, the capitalized terms
below shall have the following meanings; 
 (a) “Affiliate” shall mean any corporation, joint venture,
partnership, limited liability company, trust or other entity which (a) controls, is controlled by, or is under common control with, the specified corporation, joint venture, partnership, limited liability company, trust or other entity or
(b) is controlled by or is under common control with the specified individual. For purposes of this definition, the terms “controls”, “controlled by” and “under common control with” mean the power, directly or
indirectly, to direct or cause the direction of the management or policies of an entity whether by voting power, contract or otherwise. 
 (b) “Agent” shall mean any person who is or was, or who has consented to serve as, a director, officer, employee or agent of the Corporation or a subsidiary of the Corporation whether serving
in such capacity or as a director, officer, employee, agent, fiduciary, joint venturer, partner, member, manager, or other official of another corporation, partnership, limited liability company, joint venture, trust, or other enterprise (including,
without limitation, an employee benefit plan) either at the request of, for the convenience of, or otherwise to benefit the Corporation or a subsidiary of the Corporation. 
 (c) “Change of Control” shall mean the occurrence of any of the following after the date of this Agreement:
(i) any “person” (as such term is used in Sections 13(d) and 14(d) of the Exchange Act) is or becomes the “beneficial owner” (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of the
Corporation representing 30% or more of the combined voting power of the Corporation’s then outstanding voting securities, or (ii) during any period of two (2) consecutive years, individuals who at the beginning of such period
constituted the Board of Directors and any new director whose election or nomination for election by the 

  

 2 

 
Corporation’s shareholders was approved by a vote of at least two-thirds of the directors then still in office who either were directors at the
beginning of such period or whose election or nomination for election was previously so approved, cease for any reason to constitute at least a majority of the Board of Directors, (iii) any “person” is or becomes the “beneficial
owner” (as those terms are defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of Voting Securities of the Corporation representing at least 50% of the total voting power represented by the then-outstanding Voting Securities,
(iv) the shareholders of the Corporation approve a merger or consolidation with any other corporation or entity, other than a merger or consolidation that would result in the Voting Securities of the Corporation outstanding immediately prior
thereto continuing to represent (either by remaining outstanding or by converted into Voting Securities of the surviving entity) at least 80% of the total voting power represented by the Voting Securities of the Corporation or such surviving entity
outstanding immediately after such merger or consolidation, or (v) the shareholders of the Corporation approve a plan of complete liquidation of the Corporation or an agreement for the sale or disposition of all or substantially all of the
assets of the Corporation. 
 (d) “Disinterested Director” shall mean a director of the Corporation
who is not and was not a party to the Proceeding in respect of which indemnification is being sought by Indemnitee. 
 (e)
“Exchange Act” shall mean the Securities and Exchange Act of 1934, as amended. 
 (f)
“Expenses” shall be broadly construed and shall include, without limitation, (i) all direct and indirect costs actually and reasonably incurred, paid, or accrued, (ii) all attorneys’ fees, retainers, court
costs, transcripts, fees of experts, witness fees, travel expenses, food and lodging expenses while traveling, duplicating costs, printing and binding costs, telephone charges, postage, delivery service, freight, or other transportation fees and
expenses, and (iii) all other disbursements or out of pocket expenses of the type customarily incurred in connection with prosecuting, defending, preparing to prosecute or defend, or investigating a Proceeding; in each case incurred in
connection with either the investigation of, the defense of, being a witness in, participating in, preparing to prosecute or defend, settling, or appealing a Proceeding, or establishing or enforcing a right of indemnification under this Agreement,
applicable law or otherwise. Notwithstanding any of the foregoing, the term “Expense” shall not include any Liabilities. 
 (g) “Independent Legal Counsel” shall mean a law firm, or a member of a law firm, selected by the Corporation and approved by Indemnitee (which approval shall not be unreasonably withheld), that is experienced in
matters of corporation law and neither at the time of designation is, nor in the five years immediately preceding such designation was, retained to represent: (i) the Corporation or any of its subsidiaries or affiliates, or the Indemnitee or
any of its affiliates or any corporation of which the Indemnitee was or is a director, officer, employee or agent, or any subsidiary or affiliate of such a corporation, in any matter material to either such party, or (ii) any other party to the
Proceeding giving rise to a claim for indemnification hereunder. Notwithstanding the foregoing, the term “Independent Legal Counsel” shall not include any person who, under the applicable standards of professional conduct then prevailing,
would have a conflict of interest in representing either the Corporation or Indemnitee in an action to determine Indemnitee’s right to indemnification under this Agreement arising on or after the date of this Agreement, regardless of when the
Indemnitee’s act or failure to act occurred. 
  

 3 

 (h) “Liabilities” shall mean liabilities of any type whatsoever,
including, but not limited to, judgments (including punitive and exemplary damages), fines, ERISA or other excise taxes and penalties, and amounts paid in settlement (including all interest, assessments, or other charges paid or payable in
connection with or in respect of any of the foregoing). 
 (i) “Potential Change of Control” shall
mean the occurrence of any of the following: (i) the Corporation enters into an agreement or arrangement, the consummation of which would result in the occurrence of a Change in Control; (ii) any “person” (as that term is used in
Sections 13(d) and 14(d) of the Exchange Act), including, without limitation, the Corporation, publicly announces an intention to take or to consider taking actions that, if consummated, would constitute a Change in Control; (iii) any
“person” (as that term is used in Sections 13(d) and 14(d) of the Exchange Act), who is or becomes the “beneficial owner” (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of the Corporation
representing 30% or more of the combined voting power of the Corporation’s then outstanding Voting Securities; or (iv) the Board of the Corporation adopts a resolution to the effect that, for purposes of this Agreement, ultimately result
in a Change of Control or any of the events described in Section 2(h)(i), (ii), or (iii) hereof. 
 (j)
“Proceeding” shall mean any pending, threatened, or completed action, claim, hearing, suit, arbitration, alternative dispute resolution mechanism, inquiry, investigation, or any other proceeding (including any appeals from
any of the foregoing), whether civil, criminal, administrative, legislative, or investigative in nature, whether formal or informal, including, without limitation, any such Proceeding brought by or in the right of the Corporation or otherwise.

 (k) “Subsidiary” shall mean any corporation, joint venture, partnership, limited liability company,
trust or other entity which is controlled by the Corporation. For purposes of this definition, the term “controlled by” means the power, directly or indirectly, to direct or cause the direction of the management or policies of the
applicable entity whether by voting power, contract or otherwise. 
 (l) “Voting Securities” shall
mean any securities of the Corporation that are entitled generally to vote in the election of directors. 
 3. Basic Indemnification
Agreement. Subject to the limitations set forth herein and in Section 9 hereof: 
 (a) The Corporation shall
indemnify the Indemnitee to the fullest extent authorized or permitted under the Florida Business Corporation Act (“FBCA”) and the provisions of the Articles of Incorporation and Bylaws in effect on the date hereof or as
FBCA, the Articles of Incorporation, or Bylaws may be amended from time to time (but, in the case of any such amendment, only to the extent that such amendment permits the Corporation to provide broader indemnification rights than were permitted
prior to such amendment). The right to indemnification conferred in the Articles of Incorporation and Bylaws shall be presumed to have been relied upon by Indemnitee in serving or continuing to serve the Corporation or any Subsidiary or Affiliate as
a director, officer, or other Agent and shall be enforceable as a contract right. The Corporation shall not adopt any amendments to its Articles of Incorporation or Bylaws, or permit any Subsidiary or Affiliate to adopt any amendments to its organic
documents, the effect of which would be to deny, diminish, or encumber Indemnitee’s rights to indemnity pursuant to the Articles of Incorporation, Bylaws, or the FBCA, or any other applicable law, as applied to any act or failure to act
occurring in whole or in part prior to the date upon which such amendment was approved by the Board of 

  

 4 

 
Directors or the Corporation’s shareholders, as the case may be (“Effective Date”). In the event that the Corporation shall
adopt any amendment to its Articles or Incorporation or Bylaws, or any Subsidiary or Affiliate shall adopt any amendment to its organic documents, the effect of which is to deny, diminish, or encumber Indemnitee’s right to indemnity pursuant to
the Articles of Incorporation, Bylaws, or such organic documents, as the case may be, or under the FBCA, or any other such law, such amendment shall apply only to acts of failures to act occurring entirely after the Effective Date thereof. The
Corporation shall give notice of any such amendment to the Indemnitee. 
 (b) Without in anyway diminishing the scope of the
indemnification provided by this Section 3, and in addition to any other rights of indemnification which the Indemnitee may have under the Articles of Incorporation, Bylaws, organic documents of any Subsidiary or Affiliate, or other contract
right, the Corporation agrees to indemnify and hold the Indemnitee harmless (whenever the Indemnitee is or was a witness or a party, or is threatened to be made a witness or a party, to any Proceeding, including without limitation any Proceeding
brought by or in the right of the Corporation or any Subsidiary or Affiliate, by reason of the fact that the Indemnitee is or was a director, officer or other Agent of the Corporation or any Subsidiary or Affiliate, or by reason of anything done or
not done, or alleged to have been done or not done, by the Indemnitee in such capacity) against all Expenses and Liabilities actually and reasonably incurred by the Indemnitee or on his or her behalf in connection with the investigation, defense,
testimony in, settlement, or appeal of such Proceeding. The parties hereto intend that this Agreement shall provide for indemnification in excess of that expressly permitted by statute in the absence of an agreement. 
 (c) In addition to, and not as a limitation of, the indemnification provided by this Section 3, the rights of indemnification of the
Indemnity provided under this Agreement shall include those rights set forth in Sections 4, 5, and 7 of this Agreement. Notwithstanding the provisions of this Section 3, the Corporation shall not be required to indemnify the Indemnitee in
connection with a Proceeding commenced by the Indemnitee (other than a Proceeding commenced by the Indemnity to enforce the Indemnitee’s rights under this Agreement) unless the commencement of such Proceeding was authorized by the Board of
Directors. 
 (d) The Corporation’s obligations to make payments under this Agreement are not subject to diminution by
set-off, counterclaim, abatement, or otherwise. However, the Indemnitee will not be released from any liability or obligations owed to the Corporation, whether under this Agreement or otherwise. 
 4. Payment of Expenses. 
 (a) Full Indemnification. Notwithstanding any other provision in this Agreement, to the extent that the Indemnitee has been successful on the merits or otherwise in defense of any Proceeding, the Indemnitee shall be
indemnified against all Expenses actually and reasonably incurred by the Indemnitee in connection therewith. For purposes of this Section 4 and without limitation, the termination of any claim, issue, or matter in any such Proceeding by
dismissal, settlement, or withdrawal, with or without prejudice, shall be deemed to be a successful resolution as to such claim, issue, or matter. 
 (b) Partial Indemnification. Notwithstanding any other provision in this Agreement, if the Indemnitee is not wholly successful in any Proceeding but is successful on the merits or otherwise in defense of
such Proceeding as to one or more, but less than all, of the claims, issues, or matters in such Proceedings, the Corporation shall indemnify the Indemnitee against all 

  

 5 

 
Expenses actually and reasonably incurred by the Indemnitee in connection with each successfully resolved claim, issue, or matter. 
 (c) Advance of Expenses. 
 (i) All Expenses incurred by or on behalf of Indemnitee shall be advanced by the Corporation to Indemnitee (“Expense
Advance”) within 20 days after the receipt by the Corporation of a written request for such advance which may be made from time to time, whether prior to or after final disposition of a Proceeding (unless there has been a final
determination by a court of competent jurisdiction or decision of an arbitrator that Indemnitee is not entitled to be indemnified for such Expenses). Any Expense Advance requested hereby shall be made without regard to Indemnitee’s ability to
repay the amount of the Expense Advance and without regard to the Indemnitee’s ultimate entitlement to indemnification under this Agreement. Indemnitee’s entitlement to Expense Advances shall include those Expenses incurred in connection
with any Proceeding by Indemnitee seeking a determination, an adjudication or an award in arbitration pursuant to this Agreement. Each written request shall reasonably evidence the Expenses incurred by Indemnitee in connection therewith. The
Indemnitee hereby promises to repay to the Corporation the amounts advanced if it shall ultimately be determined that the Indemnitee is not entitled to be indemnified pursuant to the terms of this Agreement. 
 (ii) If the Indemnitee has commenced legal proceedings in a court of competent jurisdiction to secure a determination that the Indemnitee
is entitled to be indemnified under this Agreement, as provided in Section 7, any determination made under Section 5 hereof that the Indemnitee is not entitled to be indemnified under this Agreement shall not be binding and Indemnitee
shall not be required to reimburse the Corporation for any Expense Advances until a final judicial determination (as to which all rights of appeal therefrom have been exhausted or have lapsed) is made that Indemnitee is not permitted to be
indemnified under this Agreement. Indemnitee’s obligation to reimburse the Corporation for any Expense Advance shall be unsecured and no interest shall be charged thereon. 
 5. Procedure for Determination of Entitlement to Indemnification. 
 (a) Whenever the Indemnitee believes that the Indemnity is entitled to indemnification under this Agreement, the Indemnitee shall submit a
written request to the Corporation for indemnification to the attention of the corporate secretary. The request for indemnification shall include documentation or information which is necessary for the determination of entitlement to indemnification
and which is reasonably available to Indemnitee. In any event, the Indemnitee shall submit Indemnitee’s claim for indemnification within a reasonable time, not to exceed one (1) year after any judgment, order, settlement, dismissal,
arbitration award, conviction, acceptance of a plea of nolo contendere or its equivalent, or final termination, whichever is the later date for which Indemnitee requests indemnification. The secretary of the Corporation shall, promptly upon
receipt of such a request for indemnification, advise the Board of Directors in writing that Indemnitee has requested indemnification. 
  

 6 

 (b) Upon written request for indemnification made pursuant to Section 5(a) of this
Agreement, a determination shall be made by the Corporation with respect to the Indemnitee’s entitlement thereto as follows: 
 (i) If a Change of Control shall not have occurred prior to such determination, the Corporation, at its sole discretion, shall require such determination to be made by any one of the following: 
 (A) the Board of Directors by a majority vote of Disinterested Directors, whether or not such majority constitutes a quorum of the Board
of Directors; 
 (B) a committee of the Board of Directors consisting solely of Disinterested Directors designated to serve
on such committee by a majority vote of Disinterested Directors, whether or not such majority constitutes a quorum of the Board of Directors; or 
 (C) Independent Legal Counsel, if there are no Disinterested Directors or the Disinterested Directors so direct. 
 (ii) If a Change of Control shall have occurred prior to such determination, such determination shall be made by the Independent Legal Counsel unless the Indemnitee shall request that the determination be made by the
Board of Directors or the board of directors of the surviving corporation (in the event the Corporation is not the surviving corporation as a result of such Change of Control). 
 (c) The determination of Indemnitee’s entitlement to indemnification under Section 5(b) hereof shall be made no later than sixty
(60) days after receipt of the written request provided pursuant to Section 5(a) hereof, provided that any request for indemnification for Liabilities, other than amounts paid in settlement, shall have been made after a determination
thereof in a Proceeding. If it is determined that Indemnitee is entitled to indemnification, payment to Indemnitee shall be made within ten (10) days after such determination. Indemnitee shall cooperate reasonably with the person or persons
making such determination with respect to Indemnitee’s entitlement to indemnification, including without limitation, providing to such person or persons upon reasonable advance request any documentation or information that is not privileged or
otherwise protected from disclosure and which is reasonably available to Indemnitee and reasonably necessary to such determination. Any Expenses (including, without limitation, attorneys’ fees and disbursements) incurred by Indemnitee in so
cooperating shall be borne by the Corporation (irrespective of the determination as to Indemnitee’s entitlement to indemnification), and the Corporation hereby indemnifies and agrees to hold Indemnitee harmless therefrom. 
 (d) If the determination of entitlement to indemnification is to be made by Independent Legal Counsel pursuant to Section 5(b) of
this Agreement, the Independent Counsel shall be selected as provided in this Section 5(d) hereof. If a Change of Control shall not have occurred, the Independent Legal Counsel shall be selected by the Board of Directors, and the Corporation
shall give written notice to Indemnitee advising him or her of the identity of the Independent Legal Counsel so selected. If a Change of Control shall have occurred, the Independent Counsel shall be selected by Indemnitee (unless Indemnitee shall
request that such selection be made by the Board of Directors, in which event the preceding sentence shall apply), and Indemnitee shall given written notice to the Corporation advising it of the identity of the Independent Legal Counsel so selected.
In either event, Indemnitee of the Corporation, as the case may be, may within seven (7) days after such written notice of selection shall have been given, deliver to the Corporation or to Indemnitee, as the case may be, a written objection to
such selection. Such objection may be 

  

 7 

 
asserted only on the ground that the Independent Legal Counsel so selected does not meet the requirement of “Independent Legal Counsel” as defined
in Section 2 of this Agreement, and the objection shall set forth with particularity the factual basis of such assertion. If such written objection is made, the Independent Counsel so selected may not serve as Independent Counsel unless and
until a court has determined that such objection is without merit. If, within twenty (20) days after submission by Indemnitee of a written request for indemnification pursuant to Section 5(a) of this Agreement, no Independent Legal Counsel
shall have been selected or, if selected, shall have been objected to, in accordance with this Section 5(d), either the Corporation or Indemnitee may petition a court under the terms of Section 18(h) of this Agreement for resolution for
resolution of any objection that shall have been made by the Corporation or Indemnitee to the other’s selection of Independent Legal Counsel or for the appointment by the court of as Independent Legal Counsel, and the person with respect to
whom an objection is favorably resolved or the person so appointed by the court shall act as Independent Legal Counsel under Section 5(b) of this Agreement. The Corporation shall pay any and all reasonable fees and expenses of Independent Legal
Counsel incurred by such Independent Legal Counsel in connection with acting pursuant to Section 5(b) of this Agreement, and the Corporation shall pay all reasonable fees and expenses incident to the procedures of this Section 5(d),
regardless of the manner in which such Independent Legal Counsel was selected or appointed. Upon the due commencement of any judicial proceeding or arbitration pursuant to Section 7 of this Agreement, Independent Legal Counsel shall be
discharged and relieved of any further responsibility in such capacity (subject to the applicable standards of professional conduct then prevailing). 
 6. Presumptions and Effect of Certain Proceedings. 
 (a) To the maximum extent
permitted by the FCBA and other applicable law, in making a determination with respect to entitlement to indemnification or an Expense Advance hereunder, the person or persons making such determination shall presume that Indemnitee is entitled to
indemnification or an Expense Advance under this Agreement if Indemnitee has submitted a request for indemnification in accordance with Section 5(a) of this Agreement or a request for Expense Advance under Section 4(c) hereof, and the
Corporation shall have the burden of proof to overcome that presumption in connection with the making by any person or persons of any determination contrary to that presumption. 
 (b) If the person or persons empowered or selected under Section 5 of this Agreement to determine whether Indemnitee is entitled to
indemnification shall have failed to make the requested determination within sixty (60) days after the receipt by the Corporation of the request therefor, the determination of entitlement to indemnification shall be deemed to have been made
and, except as otherwise provided in Section 7(c) hereof, Indemnitee shall be deemed to be absolutely entitled to such indemnification. 
 (c) The termination of any Proceeding or of any claim, issue, or matter therein by judgment, order, settlement, arbitration award, or conviction, or upon a plea of nolo contendre or its equivalent, shall not of
itself (i) adversely affect the rights of the Indemnitee to indemnification, or (ii) create a presumption that Indemnitee did not meet any particular standard of conduct or have any particular belief relevant to determining the
Indemnitee’s rights to indemnification hereunder. 
 7. Remedies of Indemnitee. 
 (a) In the event that (i) an initial determination is made pursuant to Section 5 of this Agreement that Indemnitee is not
entitled to indemnification under this Agreement, (ii) an 

  

 8 

 
Expense Advance is not timely made when and as required under this Agreement, (iii) payment has not been timely made following a determination that
Indemnitee is entitled to indemnification or such determination is deemed to have been made pursuant to Section 6(b) of this Agreement, or (iv) Indemnitee otherwise seeks enforcement of this Agreement; then in each such case the Indemnitee
shall be entitled to a final adjudication in a court, under the terms of Section 18(h) of this Agreement, of the Indemnitee’s entitlement to such indemnification or Expense Advance. Alternatively, unless court approval is required by law
for the indemnification or Expense Advance sought by Indemnitee, Indemnitee at Indemnitee’s option may seek an award in arbitration to be conducted by a single arbitrator pursuant to the commercial arbitration rules of the American Arbitration
Association now in effect, which award is to be made within 120 days following the filing of the demand for arbitration. Except as set forth herein, the provisions of Florida law shall apply to any such arbitration. The Corporation shall not oppose
Indemnitee’s right to seek any such adjudication or arbitration award. In any such proceeding or arbitration, Indemnitee shall be presumed to be entitled to indemnification and Expense Advances under this Agreement and the Corporation shall
have the burden of proof to overcome that presumption. 
 (b) In the event that a determination shall have been made pursuant
to Section 5 of this Agreement that Indemnitee is not entitled to indemnification, in whole or in part, any judicial proceeding or arbitration commenced pursuant to this Section 7 shall be conducted in all respects as a de novo trial or
arbitration on the merits, and Indemnitee shall not be prejudiced by reason of a determination under Section 5 of this Agreement that the Indemnitee is not entitled to indemnification. 
 (c) If a determination shall have been made under Section 5 hereof or deemed to have been made pursuant to Section 6(b) of this
Agreement the terms of this Agreement that Indemnitee is entitled to indemnification, the Corporation shall be bound by such determination, absent (i) a misstatement by Indemnitee of a material fact, or an omission of a material fact necessary
to make Indemnitee’s statement not materially misleading, in connection with the request for indemnification, or (ii) a specific finding (which has become final) by a court of competent jurisdiction (as to which all rights of appeal
therefrom have been exhausted or have lapsed) that all or any part of such indemnification is expressly prohibited under applicable law or this Agreement. 
 (d) The Corporation shall be precluded from asserting in any judicial proceeding or arbitration commenced pursuant to this Section 7 that the procedures and presumptions of this Agreement are not valid, binding
and enforceable and shall stipulate in any such court or before any such arbitrator that the Corporation is bound by all the provisions of this Agreement and is precluded from making any assertion to the contrary. 
 8. Indemnification for Expenses Incurred in Enforcing Rights. The Corporation shall indemnify Indemnitee against any and all Expenses, and if
requested by Indemnitee, shall make an Expense Advance to the Indemnitee pursuant to the procedures set forth in Section 4(c)(i) hereof that are incurred by the Indemnitee in connection with any claim asserted against or action brought by
Indemnitee for: 
 (a) enforcement of this Agreement; 
 (b) indemnification of Liabilities, Expenses, or Expense Advances, by the Corporation under this Agreement or any other written agreement
between the Corporation and the 

  

 9 

 
Indemnitee, or under the FBCA or the Articles of Incorporation or Bylaws now or hereafter in effect relating to the indemnification of the Indemnitee; or

 (c) recovery under any directors’ and officers’ liability insurance policies maintained by the Corporation.

 9. Limitations on Indemnification. No indemnification pursuant to Section 3 shall be paid by the Corporation nor shall
Expenses be advanced pursuant to Section 4(c)(i): 
 (a) Insurance. To the extent that Indemnitee has received
reimbursement pursuant to such liability insurance as may exist for Indemnitee’s benefit. Notwithstanding the availability of such insurance, Indemnitee also may claim indemnification from the Corporation pursuant to this Agreement by assigning
to the Corporation any claims under such insurance to the extent Indemnitee is paid by the Corporation. Indemnitee shall reimburse the Corporation for any sums he or she receives as indemnification from other sources to the extent of any amount paid
to him or her for that purpose by the Corporation. 
 (b) Section 16(b). On account and to the extent of
any wholly or partially successful claim against Indemnitee for an accounting of profits made for the purchase or sale by Indemnitee of securities of the Corporation in violation of the provisions of Section 16(b) of the Exchange Act or similar
provisions of any federal, state or local statutory law; 
 (c) Section 304 or Similar Forfeiture. On
account and to the extent of any wholly or partially successful claim against Indemnitee that such amounts include amounts paid in bonus or other incentive-based or equity-based compensation, or profits from the sale of securities, that the
Indemnitee is required to reimburse to the Corporation under Section 304 of the Sarbanes-Oxley Act of 2002 or other applicable law; 
 (d) Unauthorized Settlements. Provided there has been no Change in Control, for Liabilities in connection with Proceedings settled without the Corporation’s consent, which consent, however, shall
not be unreasonably withheld; 
 (e) Unlawful Indemnification. To the extent it would be otherwise
prohibited by law, if so established by a judgment or other final adjudication (as to which all rights of appeal therefrom have been exhausted or have lapsed) adverse to Indemnitee; 
 (f) Indemnitee’s Proceedings. In connection with all or any part of a Proceeding which is initiated or maintained by or
on behalf of Indemnitee, or any Proceeding by Indemnitee against, the Corporation or its directors, officers, employees or other Agents, unless (i) such indemnification is expressly required to be made under the FBCA, (ii) the Proceeding
was authorized by a majority of the Disinterested Directors, (iii) there has been a Change of Control, (iv) such indemnification is provided by the Corporation, in its sole discretion, pursuant to the powers vested in the Corporation under
the FBCA, (v) such indemnification is provided under a written employment agreement between the Indemnitee and the Corporation or any Subsidiary or Affiliate, (vi) such indemnification is provided under the Articles of Incorporation or the
Bylaws, or (vii) such Proceeding is initiated or maintained to enforce the Indemnitee’s rights or the Corporation’s obligations under this Agreement; 
  

 10 

 (g) Actions Initiated by Federal Banking Agency. If and to the
extent it is sustained in connection with an administrative or civil enforcement action which is initiated by a federal banking agency and results in a final adjudication or finding (as to which all rights of appeal therefrom have been exhausted or
have lapsed) against Indemnitee; or 
 (h) Indemnification Prohibited by FDIC or Federal Banking Law. If
and to the extent that, on the date thereof, it is a prohibited indemnification payment under the regulations and the general policy of the Federal Deposit Insurance Corporation (including, without limitation, 12 C.F.R. Part 359.0 et seq.) or
federal banking law (including, without limitation, 12 U.S.C. Section 1828(k)), as both are amended and in effect on the date of such payment. 
 10. Non-Exclusivity. The rights of the Indemnitee under this Agreement shall not be deemed exclusive of any other rights to which Indemnitee may have now or in the future under applicable law, the Articles of Incorporation, the
Bylaws, other written agreements between the Indemnitee and the Corporation or any Subsidiary or Affiliate, vote of the Disinterested Directors, insurance or other financial arrangements, or otherwise. To the extent that a change in applicable law
(whether by statute or judicial decision) permits greater indemnification by agreement than would be afforded currently under the Articles of Incorporation, the Bylaws, this Agreement or any other written agreement between the Indemnitee and the
Corporation or any Subsidiary or Affiliate, it is the intent of the parties that Indemnitee enjoy the greater benefits so afforded by such change. 
 11. Maintenance of Insurance. The Corporation, represents that it presently has in place certain directors’ and officers’ liability insurance policies covering its directors and officers. Subject only to the provisions
within this Section 11, the Corporation agrees that so long as Indemnitee shall have consented to serve or shall continue to serve as a director, officer, or other Agent of the Corporation or any Subsidiary or Affiliate, and at all times
thereafter so long as the Indemnitee shall be subject to any possible Proceeding, the Corporation will use all reasonable efforts to maintain in effect for the benefit of the Indemnitee one or more valid, binding and enforceable policies of
directors’ and officers’ liability insurance from established and reputable insurers, providing, in all respects, coverage both in scope and amount which is no less favorable than that provided by such policies that are in existence on the
date of this Agreement. Notwithstanding the foregoing, the Corporation shall not be required to maintain said policies of directors’ and officers’ liability insurance during any time period if during such period such insurance is not
reasonably available or if it is determined in good faith by the then directors of the Corporation either that: 
 (a) The
premium cost of maintaining such insurance is substantially disproportionate to the amount of coverage provided thereunder; or 
 (b) The protection provided by such insurance is so limited by exclusion, deductions or otherwise that there is insufficient benefit to warrant the cost of maintaining such insurance. 
 Anything in this Agreement to the contrary notwithstanding, to the extent that and for so long as the Corporation shall choose to continue to maintain any policies of
directors’ and officers’ liability insurance during the period described in this Section 11, the Corporation shall maintain similar and equivalent insurance for the benefit of the Indemnitee during such period (unless such insurance
shall be less favorable to Indemnitee than the Corporation’s existing policies). 
  

 11 

 12. Notice by Indemnitee and Defense of Claims. The Indemnitee agrees promptly to notify the
Corporation in writing upon being notified of any matter which may be subject to indemnification hereunder or upon being served with any summons, citation, subpoena, complaint, indictment, information or other document relating to any matter which
may be subject to indemnification hereunder, whether civil, criminal, arbitrative, administrative or investigative; but the omission so to notify the Corporation will not relieve the Corporation from any liability which it may have to the Indemnitee
if such omission does not actually prejudice the Corporation’s rights and, if such omission prejudices the Corporation’s rights, it will relieve the Corporation from liability only to the extent of such prejudice; nor will such omission
relieve the Corporation from any liability which it may have to Indemnitee otherwise than under this Agreement. With respect to any Proceeding: 
 (a) The Corporation will be entitled to participate therein at its own expense; 
 (b) Except
as otherwise provided below, to the extent that it may wish, the Corporation jointly with any other indemnifying party similarly notified will be entitled to assume the defense thereof, with counsel reasonably satisfactory to the Indemnitee;
provided, however, that the Corporation shall not be entitled to assume the defense of any Proceeding if there has been a Change in Control. After notice from the Corporation to the Indemnitee of its election so to assume the defense thereof and the
assumption of such defense, the Corporation will not be liable to the Indemnitee under this Agreement for any Expense Advances subsequently incurred by the Indemnitee in connection with the Indemnitee’s defense except as otherwise provided
below. The Indemnitee shall have the right to employ his or her counsel in such Proceeding, but the fees and expenses of such counsel incurred after notice from the Corporation of its assumption of the defense thereof and the assumption of such
defense shall be at the expense of the Indemnitee unless (i) the employment of counsel by the Indemnitee has been authorized by the Corporation, (ii) the Indemnitee shall have reasonably concluded that there may be a conflict of interest
between the Corporation and Indemnitee in the conduct of the defense of such action or that the Corporation’s counsel may not be adequately representing Indemnitee, or (iii) the Corporation shall not in fact have employed counsel within 20
calendar days from receipt of such notice to assume the defense of such action; and in each of the cases described in Section 12(b)(i), (ii), and (iii) hereof, the fees and expenses of the Indemnitee’s counsel shall be at the expense
of the Corporation; and 
 (c) The Corporation shall not be liable to indemnify Indemnitee under this Agreement for any
amounts paid in settlement of any action or claim effected without the Corporation’s written consent. The Corporation shall not settle any action or claim in any manner which would impose any liability, obligation, limitation or penalty on the
Indemnitee without the Indemnitee’s prior written consent. Neither the Corporation nor the Indemnitee will unreasonably withhold or delay its or his or her consent to any proposed settlement; provided, however, that the Indemnitee may withhold
the Indemnitee’s consent if such settlement would impose any financial obligation on the Indemnitee (which is not reimbursed under any existing directors’ and officers’ liability insurance policy maintained by the Corporation or any
Subsidiary or Affiliate) or restrict the Indemnitee’s business or professional activities. 
 13. Contribution. To the fullest
extent permissible under applicable law, if the indemnification provided for in this Agreement is unavailable to the Indemnitee for any reason whatsoever, the Corporation, in lieu of indemnifying the Indemnitee, shall contribute to the amount
incurred by the Indemnitee, whether for judgments, fines, penalties, excise taxes, amounts paid or to be paid in settlement or for Expenses, in connection with any claim relating to an indemnifiable 

  

 12 

 
matter under this Agreement, in such proportion as is deemed fair and reasonable in light of all of the circumstances of such Proceeding in order to reflect
(a) the relative benefits received by the Corporation and the Indemnitee as a result of the event or transaction giving rise to such Proceeding; and (b) the relative fault of the Corporation (and its directors, officers, employees and
agents) and the Indemnitee in connection with such events or transactions. 
 14. Establishment of Trust. In the event of a Change in
Control or a Potential Change in Control, the Corporation shall, upon written request by the Indemnitee, create a trust for the benefit of Indemnitee and from time to time upon written request of the Indemnitee shall fund the trust in an amount
sufficient to satisfy any and all Expenses reasonably anticipated at the time of each such request to be incurred in connection with investigating, preparing for participating in, and defending any Proceeding which is subject to indemnification
under this Agreement. The amount or amounts to be deposited in the trust pursuant to the foregoing funding obligation shall be determined by the parties making the determination under Section 5(b) hereof. The terms of the trust shall provide
that upon a Change in Control: (a) the trust shall not be revoked, or the principal thereof invaded, without the written consent of the Indemnitee; (b) the trustee shall advance, within ten business days of a request by Indemnitee, any and
all Expenses to the Indemnitee (and the Indemnitee hereby agrees to reimburse the trust under the same circumstances for which the Indemnitee would be required to reimburse the Corporation under Section 4(c) of this Agreement); (c) the
trust shall continue to be funded by the Corporation in accordance with the funding obligation set forth above (d) the trustee shall promptly pay to Indemnitee all amounts for which the Indemnitee shall be entitled to indemnification pursuant
to this Agreement or otherwise, and (e) all unexpended funds in the trust shall revert to the Corporation upon a final determination by the parties making the determination provided under Section 5(b) hereof, or a final determination by a
court of competent jurisdiction (as to which all rights of appeal therefrom have been exhausted or have lapsed), as the case may be, that Indemnitee has been fully indemnified under the terms of this Agreement. The trustee shall be chosen by the
Indemnitee. Nothing in this Section 14 shall relieve the Corporation of any of its obligations under this Agreement. All income earned on the assets held in the trust shall be reported as income by the Corporation for federal, state, local, and
foreign tax purposes. The Corporation shall pay all costs of establishing and maintaining the trust and shall indemnify the trustee against any and all expenses (including, without limitation, attorneys’ fees and costs), claims, liabilities,
losses, and damages arising out of or relating to this Agreement or the establishment and maintenance of the trust. 
 15. Claims Against
Indemnitee. No legal action shall be brought and no cause of action shall be asserted by or on behalf of the Corporation or any affiliate of the Corporation against Indemnitee, the Indemnitee’s spouse, heirs, executors, or personal or legal
representatives unless notice of such claim is given to Indemnitee within two years after the date of accrual of such cause of action, or such shorter period as may be permitted, or longer period as may be required, by applicable law under the
circumstances. 
 16. Subrogation. In the event of payment under this Agreement, the Corporation shall be subrogated to the extent of
such payment to all of the rights of the Indemnitee related to, but only to the extent of, such payment. The Indemnitee shall, without cost or expense to the Indemnitee, cooperate as may be reasonably requested by the Corporation, in order for the
Corporation to be able to secure such rights of subrogation, including, without limitation, the execution of documents by the Indemnitee. 
  

 13 

 17. Duration and Scope of Agreement; Binding Effect. This Agreement shall continue so long as the
Indemnitee shall be subject to any possible Proceeding subject to indemnification by reason of the fact that the Indemnitee is or was a director, officer or other Agent of the Corporation or any Subsidiary or Affiliate, and shall be applicable to
Proceedings commenced or continued after execution of this Agreement, whether arising from acts or omissions occurring before or after such execution. This Agreement shall be binding upon the Corporation, its Subsidiaries and the Corporation’s
successors and assigns (including, without limitation, any direct or indirect successor or purchase, merger, consolidation or otherwise to all or substantially all of the business or assets of the Corporation) and shall inure to the benefit of the
Indemnitee and the Indemnitee’s spouse, assigns, heirs, devisees, executors, administrators and other legal representatives. The Corporation shall require and cause any successor (whether direct or indirect, and whether by purchase, merger,
consolidation or otherwise), to all or substantially all of the Corporation’s business or assets, expressly to assume (by written agreement in form and substance reasonably satisfactory to the Indemnitee) and agree to perform this Agreement in
the same manner and to the same extent that the Corporation would have been required to perform if no such transaction or succession had taken place. 
 18. General Provisions. 
 (a) Severability. If any provision or
provisions of this Agreement shall be held to be invalid, illegal, or unenforceable for any reason whatsoever: (i) the validity, legality, and enforceability of the remaining provisions of this Agreement (including, without limitation, each
portion of any section of this Agreement containing any such provision held to be invalid, illegal, or unenforceable, that is not itself invalid, illegal, or unenforceable) shall not in any way be affected or impaired thereby; and (ii) to the
fullest extent possible, the provisions of this Agreement (including, without limitation, each portion of any Section of this Agreement containing any such provision held to be invalid, illegal, or unenforceable, that is not itself invalid, illegal,
or unenforceable) shall be construed so as to give effect to the intent manifested by the provision held invalid, illegal, or unenforceable. 
 (b) Captions. The captions in this Agreement are inserted for convenience of reference only and shall not be deemed to constitute part of this Agreement or to affect the interpretation thereof.

 (c) Counterparts. This Agreement may be executed in one or more counterparts, each of which shall be deemed
to constitute an original, but all of which together shall constitute one and the same instrument. 
 (d)
Interpretation. The parties intend this Agreement to be interpreted and enforced so as to provide indemnification to the Indemnitee to the fullest extent now or hereafter permitted by the FBCA and other applicable law. 
 (e) Modification and Waiver. No supplement, modification, or amendment of this Agreement shall be binding unless executed in
writing by both of the parties hereto. No waiver of any of the provisions of this Agreement shall be deemed or shall constitute a waiver of any other provision hereof (whether or not similar), nor shall such waiver constitute a continuing waiver. No
waiver of any provision of this Agreement shall be effective unless executed in writing. 
  

 14 

 (f) Notices. All notices, requests, demands and other communications under
this Agreement shall be in writing and shall be deemed to have been duly given (i) if delivered by hand and receipted for by the party to whom said notice or other communication shall have been directed, at the time of delivery, (ii) if
mailed by certified mail (return receipt requested) with postage prepaid, on the third business day after the date on which it is so mailed, or (iii) if delivered by a nationally recognized overnight courier service, one business day after
being deposited with such courier, and addressed: (A) if to the Corporation, to 1301 – 6th Avenue West,
Suite 300, Bradenton, Florida 34205, Attention: Secretary, or (B) if to the Indemnitee, to the address listed on the signature page below, or (C) to such other address as either party has specified by notice given in accordance with this
Section. 
 (g) Governing Law. The parties agree that this Agreement shall be governed by, and construed
and enforced in accordance with, the laws of the State of Florida applicable to contracts made and to be performed in such state without giving effect to the principles of conflicts of laws. 
 (h) Consent to Jurisdiction. The Corporation and Indemnitee each hereby irrevocably consent to the jurisdiction of the
courts of the State of Florida for all purposes in connection with any action or Proceeding which arises out of or relates to this Agreement and agree that any action instituted under this Agreement shall be brought only in the state courts of the
State of Florida. 
 [Signatures on Next Page] 
  

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 IN WITNESS WHEREOF, the parties hereto have executed this Agreement on the day and year first
above set forth. 
  

			
	COAST FINANCIAL HOLDINGS, INC.
		
	By:	 	  
	Name:	 	James K. Toomey
	Title:	 	Chairman of the Board
	
	INDEMNITEE:
	
	  
	(Signature)
		
		 	Anne V. Lee
	(Printed Name)
		
	Address:	 	  
		 	  
		 	  

 [Signature page to Indemnification Agreement]

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