ECB Bancorp adopts deferred compensation plan for EVP and Chief Lending Officer

ECB Bancorp, Inc. /MD/

Plan for John Migliozzi effective July 1, 2023; annual Bank contribution intended to be 10% of salary and bonus.
Account earns interest benchmarked to the 10-year Treasury rate as of December 1 of prior year.
100% vested at all times; forfeiture for Cause.
Payment begins at age 70 (10 annual installments); lump sum upon death or change-in-control with Good Reason.
Plan is unfunded, unsecured general obligation of Everett Co-operative Bank.

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