New Peoples Bankshares signs new 3-year CEO employment agreement; base salary $320,000

NEW PEOPLES BANKSHARES INC

James W. Kiser continues as President and CEO under new 3-year agreement through June 2028.
Base salary of $320,000 per year, with potential upward adjustment and annual cash bonus.
Severance: 2x base + bonus on termination without cause; 3x multiplier if within 24 months of Change in Control.
Non-competition and non-solicitation covenants for 12 months post-termination, with exceptions.
Prior employment agreement dated May 14, 2019 terminated upon execution.

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