NorthEast Community Bancorp enters employment agreement with CFO Donald Hom

NorthEast Community Bancorp, Inc./MD/

Employment agreement with Donald S. Hom (EVP & CFO) effective June 22, 2023.
36-month term with annual 12-month automatic extensions unless decided otherwise.
Initial base salary of $285,000; eligible for discretionary short- and long-term incentive compensation.
Severance: 3x (base salary + target bonus) for without-cause termination, including within 24 months after change in control.
One-year non-compete and 12-month non-solicitation post-termination (except after change in control).

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