Texas Community Bancshares enters employment agreement with CEO Jason Sobel; $250K base salary

Texas Community Bancshares, Inc.

Agreement has an initial two-year term with automatic one-year renewal unless board gives six months' notice.
CEO will receive annual base salary of $250,000 and monthly allowances for auto ($1,000), social club ($500), cell ($100).
Severance for termination without cause or for good reason equals remaining base salary plus highest bonus of prior 3 years, paid lump sum.
Post-change-in-control severance is 2.5x base salary plus average bonus of prior 3 years, with COBRA reimbursement for up to 18 months.
One-year non-solicitation restriction applies after termination.

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