Colony Bankcorp ( (CBAN) ) just unveiled an update.
Colony Bank has renewed its commitment to R. Dallis Copeland, Jr., who will continue leading as President of both the Bank and its Holding Company with a new employment agreement starting September 13, 2024. The two-year deal includes a $365,000 annual salary, potential performance-based bonuses, and standard benefits, PTO, and holidays. Importantly, should a company control change occur, Copeland has a financial safety net, including a severance package, provided he adheres to certain conditions. The agreement also enforces non-compete and non-solicitation clauses to protect the company’s interests post-employment.
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