EXHIBIT 10.9 EXECUTIVE SEVERANCE AGREEMENT THIS AGREEMENT is entered into and effective this 22nd day of August 2002, ("Effective Date") by and between Coastal Bancorp, Inc. (the "Company") and Coastal Banc ssb (the "Bank") and Robert V. New (the...Executive Severance Agreement • March 25th, 2003 • Coastal Bancorp Inc • Savings institutions, not federally chartered • Texas
