Base Salaries of Named Executive Officers

Exhibit 10.8

Base Salaries of Named Executive Officers

Effective January 1, 2006, the following are the base salaries of the named executive officers (as defined in Item 402(a)(3) of Regulation S-K) of New Peoples Bankshares, Inc. for 2006:

 

Kenneth D. Hart
President & Chief Executive Officer

   $ 215,000.00

Frank Sexton, Jr.
Executive Vice President and Chief Operating Officer

   $ 135,000.00

C. Todd Asbury
Senior Vice President and Chief Financial Officer

   $ 110,000.00

 

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