Colony Bankcorp (CBAN) has shared an update.
Colony Bankcorp, Inc. and its subsidiary, Colony Bank, have reappointed T. Heath Fountain as their CEO through a new employment agreement effective July 30, 2024. The agreement includes a three-year term with a base salary of $499,550, potential annual bonuses, and standard employee benefits. Additionally, it outlines substantial severance terms in the event of a change in control at the Company, along with non-compete and non-solicitation clauses. The Company has also released investor presentation materials and will be hosting an earnings call to discuss these developments.
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