RBB Bancorp amends change-of-control severance for CEO and three EVPs, terminating employment upon payment

RBB Bancorp

Effective March 25, 2024, amended agreements with CEO David Morris, EVP Jeffrey Yeh, EVP Vincent Liu, and EVP Gary Fan.
Amendments modify change-of-control severance to state that upon payment, the employment agreement and employment terminate.
Previous provision allowing continued employment under a new agreement after change of control is removed.
Morris receives 18 months salary/benefits; Yeh, Liu, and Fan each receive 12 months salary/benefits upon qualifying termination.

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