Employment Offer Letter between Avidbank Holdings and Arthur Wasson (Executive Vice President, Head of Treasury Management Services)
Avidbank Holdings offers Arthur Wasson the position of Executive Vice President, Head of Treasury Management Services, starting August 1, 2023, with an annual base salary of $295,000 and a 2023 incentive bonus opportunity of 65% of base salary. The offer includes 15,500 restricted stock shares vesting after three years, unlimited paid time off, and a comprehensive benefits package. Employment is at-will and contingent on a successful background check. The offer expires on June 26, 2023.
Exhibit 10.6
June 22, 2023
Arthur Wasson
Dear Arthur:
We are pleased to make the following offer of employment to you:
| Title: | Executive Vice President, Head of Treasury Management Services | |
| Status: | Regular Full-Time | |
| Annual Base Salary: | $295,000.00 | |
| FLSA Classification: | Exempt | |
| Restricted Stock: | 15,500 shares, 100% vesting 3 years after grant date | |
| Start Date: | August 1, 2023 | |
| Offer Expiration Date: | June 26, 2023 | |
| Reports to: | Chairman and Chief Executive Officer | |
| Location: | North Carolina | |
| PTO: | Unlimited | |
| Benefits: | Medical, dental, vision, life/disability insurance, and more |
Incentive Bonus
2023 Incentive Bonus Opportunity of 65% of base as target
Employment with the Bank is on an “at will” basis. This offer is contingent upon the Bank obtaining favorable results of a background search.
Should you have any questions, please feel free to contact me at [________________].
Sincerely,
| /s/ Mark Mordell | |||
Mark Mordell Chairman and Chief Executive Officer | |||
| AGREED AND ACCEPTED: | |||
| /s/ Arthur Wasson | 6/23/2023 | ||
| Arthur Wasson | Date | ||
1732 North 1st Street, 6th Floor, San Jose, CA 95112 | Telephone ###-###-#### Fax ###-###-#### |
