270 Legal [Sample Agreements]

EXECUTIVE EMPLOYMENT AGREEMENT

This EXECUTIVE EMPLOYMENT AGREEMENT (”Agreement”) is made and entered into as of this 4th day of September, 2007, by and between T Bancshares, Inc., a Texas corporation with its principal office located at 16000 Dallas Parkway, Suite 125, Dallas, Texas (hereafter the “Company”), and Patrick Howard, a resident of Texas (hereafter the “Executive”).

WHEREAS , the Company has chartered a national banking association named T Bank (the “Bank”), and

WHEREAS , the Executive has considerable experience, expertise and training in management related to banking and services offered by the Company; and

WHEREAS , the Company desires and intends to cause the Executive to be employed as Executive Vice President and Chief Operating Officer of the Bank pursuant to the terms and conditions set forth in this Agreement; and

WHEREAS , both the Company and the Executive have read and understood the terms and provisions set forth in this Agreement, and have been afforded a reasonable opportunity to review this Agreement with their respective legal counsel.

NOW, THEREFORE , in consideration of the mutual promises and covenants set forth in this Agreement, the Executive and the Company agree as follows:

A. DURATION

1. This Agreement shall continue in full force and effect for a period beginning on the date (the “Effective Date”) the Executive begins his employment with the Bank and, subject to paragraph two (2) below, will expire and terminate by its own terms one (1) year after the Effective Date (“Expiration Date”).

2. Both the Bank and the Executive acknowledge and agree that the parties may agree to continue the employment relationship upon such terms as they may mutually agree. This Agreement shall automatically renew at the end of each one-year term for an additional one (1) year term unless either party elects to terminate this Agreement by sending written notice of non-renewal at least thirty (30) days prior to the Expiration Date. Both parties acknowledge and agree that, in the event this Agreement does not renew, the employment of the Executive shall automatically terminate on the Expiration Date without any additional liability or obligation on the part of either party, except for the provisions of Paragraphs 12, 13, [16] and 18 which will survive the termination of this Agreement.

B. COMPENSATION

3. All payments of salary and other compensation to the Executive shall be payable in accordance with the Bank’s ordinary payroll and other policies and procedures.

a. During the first year following the Effective Date, the Bank agrees to compensate the Executive on a salary basis of $170,000 annually, payable semi-monthly in equal amounts.

b. Subsequent to the first year following the original Effective Date, for the remaining term of this Agreement the Executive’s annual salary shall be reviewed by the Bank’s Board of Directors or a delegated committee thereof as of the anniversary of the original Effective Date of each year of the remaining term of this Agreement and increased as a result of such review and to provide reasonable cost of living adjustments, all in the discretion of the Board of Directors, and when consistent with safe and sound banking practices.

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