January 2008 Amendment to Employment Agreement between Bay National Bank and Hugh W. Mohler
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Summary
Bay National Bank and Hugh W. Mohler amended Mr. Mohler’s employment agreement in January 2008. Effective January 1, 2008, his annual base salary increased from $240,000 to $255,000. The Bank’s Compensation Committee also approved a one-time discretionary bonus of $10,000, which was paid in February 2008. The agreement does not address future bonuses.
EX-10.1.1 3 ex10-11.htm EXHIBIT 10.1.1 Unassociated Document
EXHIBIT 10.1.1
Terms of January 2008 Amendment to Employment Agreement
between Bay National Bank and Hugh W. Mohler
On January 22, 2008, the Compensation Committee of the Board of Directors of Bay National Bank increased, effective January 1, 2008, Hugh Mohler’s annual base compensation from $240,000 to $255,000.
Also, the Compensation Committee of the Board of Directors of the Bank approved a discretionary bonus to Mr. Mohler of $10,000 in January 2008 (the agreement is silent with respect to the payment of bonuses to Mr. Mohler). This bonus was paid in February 2008.
