leadership
confidence high
sentiment neutral
materiality 0.50
ConnectOne enters amended employment agreement with Bank President Elizabeth Magennis
ConnectOne Bancorp, Inc.
- Base salary set at $525,000 per year; eligible for executive incentive plans.
- Severance of 2.5x base salary plus target bonus for termination without cause or for good reason.
- On change-in-control termination (within 2 years), severance of 3x base salary plus target bonus.
- Initial term of 3 years with automatic 1-year renewal; non-compete for 1 year post-employment.
- Cash auto allowance of $750/month; continued health benefits for up to 18 months on severance.