Dynex Capital enters new employment agreements; CEO base $900K, President base $800K

DYNEX CAPITAL INC

New 3-year agreements for CEO Byron Boston and President Smriti Popenoe effective Oct 27, 2023.
Minimum target annual cash incentive set at 200% of base salary; maximum at 400%.
Long-term incentive targets: Boston $3.1M, Popenoe $2.2M per year.
Severance provides 2x base plus average bonus on non-cause termination outside change of control.
Non-compete applies 6-24 months depending on termination type; clawback provisions included.

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