Change of Control Compensation Agreement between Veritex Community Bank and Noreen Skelly
This agreement is between Veritex Community Bank and Noreen Skelly, who is being employed as the bank's Chief Financial Officer. It states that if there is a change of control at the bank and the total proceeds from Noreen Skelly's stock options or grants are less than $200,000, the bank will pay her the difference to ensure she receives at least $200,000. This agreement was accepted on June 18, 2012, as part of her compensation package.
Exhibit 10.2
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| 10000 N Central Expressway Suite 1325 Dallas, Texas 75291 (972) 674 - 4400 ###-###-#### fax veritexbank.com |
In connection with the employment of Noreen Skelly to become the CFO of Veritex Community Bank (“bank”) and as part of her compensation package, we agree to the following:
At change of control only, if the gross amount of proceeds from Noreen’s option/grant ownership does not meet a minimum of $200,000.00 then the “bank” will supplement the deficiency so that a total gross amount of $200,000.00 is achieved.
Agreed to and accepted this 18th day of June, 2012.
| /s/ C Malcolm Holland |
| /s/ Noreen Skelly |
| C Malcolm Holland, CEO |
| Noreen Skelly, CFO |
