First Financial Bankshares renews executive change-in-control severance agreements for 8 officers

FIRST FINANCIAL BANKSHARES INC

Renewed agreements effective August 1, 2022, replacing previous agreements that expired July 1, 2022.
CEO F. Scott Dueser receives 300% base salary severance; other executives receive 200% on change-in-control termination.
Agreement term runs to earliest of death, disability, retirement, pre-change termination, or August 1, 2024.
If change-in-control occurs, agreements extend for 2 years post-change; benefits include prorated bonus and accrued PTO.
Parachute payment excise-tax cutback applies only if net-benefit test favors reduction.

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