Note 13 - Commitments and Contingencies

12 Months Ended

Dec. 31, 2020

Notes to Financial Statements

Commitments and Contingencies Disclosure [Text Block]

Note

13.

   Commitments and Contingencies

Employment Agreements

The Company has a severance agreement for certain Executive Vice Presidents that provides for severance equal to

12

months of current salary, if the EVP is terminated within

12

months of a change of control of Patriot.

Legal Matters

Patriot does

not

have any pending legal proceedings, other than ordinary routine litigation, incidental to its business, to which Patriot is a party or any of its property is subject. Management is of the opinion that the ultimate disposition of these routine legal matters will

not

have a material adverse effect on the consolidated financial condition, results of operations, or liquidity of Patriot.