CF Bankshares enters employment agreements with President Ringwald and CFO Beerman

CF BANKSHARES INC.

President Ringwald receives base salary of $325,000; CFO Beerman receives $215,000.
2023 bonus opportunity: 65% of base for Ringwald, 50% for Beerman, based on performance goals.
Initial term through Dec 31, 2024, with annual renewal reviews by the Board.
Severance for termination without cause or for good reason: 12 months salary continuation plus pro-rata bonus.
Change of control severance: lump sum of 1x base salary plus average bonus over prior 24 months.

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