Amendment to Employment Agreement between Northwest Bank, Northwest Bancshares, Inc., and Executive

Contract Categories: Human Resources › Employment Agreements
Summary

This amendment, effective November 1, 2021, is between Northwest Bank, its parent company Northwest Bancshares, Inc., and an executive. It modifies a previous employment agreement by removing Section 4(f), which related to reducing benefits to avoid excess parachute payments. All other terms of the original agreement remain unchanged. The amendment is signed by representatives of the company, the bank, and the executive.

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EX-10.1 2 ex101-resolutionsofthebodo.htm EX-10.1 Document

NORTHWEST BANK
NORTHWEST BANCSHARES, INC.
AMENDMENT TO EMPLOYMENT AGREEMENT

This amendment is made effective as of the 1st day of November, 2021 (the “Effective Date”), by and between Northwest Bank (the “Bank”), a Pennsylvania-chartered savings bank with its principal offices at 100 Liberty Street, Warren, Pennsylvania 16365 and Northwest Bancshares, Inc., the holding company of the Bank, and __________ (“Executive”).

WHEREAS, the Bank is a wholly-owned subsidiary of Northwest Bancshares, Inc., a stock holding company incorporated in the State of Maryland (the “Company”); and

WHEREAS, the Company, the Bank and the Executives each entered into an employment agreement dated [Insert Date] (collectively, the “Agreements”); and

WHEREAS, the Company, the Bank and the Executives believe it is in the best interests of the Company, the Bank and each Executive to modify the Agreements by striking Section 4(f) thereof pertaining to a reduction in benefits to avoid an excess parachute payment.

NOW THEREFORE, BE IT RESOLVED, Section 4(f) of the Agreements shall be deleted in its entirety; and

RESOLVED FURTHER, except as expressly modified by this revision, the Agreements shall remain in full force and effect and this Amendment together with each Agreement, shall constitute one agreement between the parties.




IN WITNESS WHEREOF the Company, the Bank and the Executive have signed (or caused to be signed) this Agreement, on November , 2021.


Attest: Northwest Bancshares, Inc.


By:
Secretary Title:



Attest: Northwest Bank


By:
Secretary Title:



Attest: Executive


By:
Secretary Title: