First Northwest Bancorp enters new employment agreement with CEO; base salary $515,000

First Northwest Bancorp

One-year term starting Dec 7, 2024, with employer option to extend annually.
CEO eligible for annual incentive bonus and equity awards under company plans.
Severance: 1x base salary + 90 days COBRA for without-cause or good-reason termination.
Change-in-control severance: 1.5x base salary + 90 days COBRA if terminated within 12 months post-CIC.
Restrictive covenants include one-year non-compete in counties where employer operates.

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