Employment Arrangement between Bay National Bank and Richard J. Oppitz
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Summary
Bay National Bank employed Richard J. Oppitz on an at-will basis starting September 5, 2008, with an annual salary of $157,500. His employment ended on January 7, 2009. During his employment, Mr. Oppitz was eligible for incentive bonuses at the discretion of the Compensation Committee but did not receive any for the period ending December 31, 2008. He was also entitled to the same benefits as other full-time employees.
EX-10.3 4 ex10-3.htm EXHIBIT 10.3 ex10-3.htm
EXHIBIT 10.3
Terms of Employment Arrangement
between Bay National Bank
and Richard J. Oppitz
Mr. Oppitz was employed on an at-will basis at a rate of pay of $157,500 as of September 5, 2008 until his termination effective January 7, 2009. While employed, Mr. Oppitz was also eligible for incentive bonuses at the discretion of the Compensation Committee of the Board of Directors, and was entitled to all benefits available to full time employees of Bay National Bank.
No discretionary bonuses were paid to Mr. Oppitz for the period ended December 31, 2008.
