Community West Bancshares Executive Employment Offer Letters to Stephen W. Haley and Phillip E. Guldeman

Summary

Community West Bancshares extended employment offers to Stephen W. Haley for the role of Executive Vice President/Chief Operating Officer and to Phillip E. Guldeman for Executive Vice President/Chief Financial Officer. The letters outline compensation, benefits, stock options, allowances, and severance terms, with employment contingent on regulatory approval. Both positions are "at-will," meaning employment can be terminated by either party at any time. The agreements specify key benefits such as health coverage, 401(k) eligibility, and vacation accruals, and require the recipients to acknowledge the at-will employment status.

EX-10.9 7 doc6.txt March 29, 2001 Mr. Stephen W. Haley 4065 Sunridge Road Pebble Beach, CA 93953 Re: Offer of Employment Dear Mr. Haley: Community West Bancshares is pleased to offer you the following employment opportunity: Position Title: Executive Vice President/Chief Operating Officer Department: Corporate Administration Special Note: Attendance at all Board Meetings, except when Management attendance is not requested Direct Report: Mr. Lew Stone, President,/CEO Compensation: $12,500.00 per month Auto Allowance: $500.00 per month, reimbursable via monthly expense reimbursement Stock Options: 20,000 shares of stock options, contingent upon Board of Director approval Moving Allowance: $5,000.00 to be paid upon request Living Allowance: $2,000.00 per month for six (6) months from date of hire for temporary housing while relocating to Santa Barbara area Severance Package: If termination occurs (involuntary) within the first two years of employment, six (6) months salary will be paid to the executive upon termination date Start Date: May 21, 2001 401K Plan: Eligible to participate in the 401(k) Savings Plan after successful completion of the 90-Day Introductory Period and Open Enrollment (January 1st and July 1st). Health Benefits: Eligible for Company paid executive health benefits (employee and family) upon the date of hire Vacation: Accruals of 13.33 hrs per month worked (4 weeks annually), with vesting upon the successful completion of the 90-Day Introductory Period Sick Leave: Accruals of 5.33 hours per month worked to begin on the first of the month following the successful completion of the 90-Day Introductory Period. Special Note: The above offer is contingent upon the approval of the Federal Reserve Bank. An Urgent Request will be made upon submittal of application for approval. Please be advised that this is not a contract of employment. As an employee of Community West Bancshares, your employment is considered to be "at-will." Please sign below as an acknowledgement of this offer and your status of an at-will employee of Community West Bancshares. Acknowledge and Agree Community West Bancshares - ----------------------------------- -------------------------- Stephen W. Haley Lew Stone, President & CEO Date: 5/20/01 Date: 3/29/01 March 14, 2002 Mr. Phillip E. Guldeman, CPA 2890 Mesa Alta Lane Arroyo Grande, CA 93420 Re: Offer of Employment Dear Mr. Guldeman: Community West Bancshares and Goleta National Bank are pleased to offer you the following employment opportunity, subject to approval by the Office of the Comptroller of the Currency and the Federal Reserve Board: Position Title: Executive Vice President/Chief Financial Officer Department: Corporate Administration Direct Report: Steve Haley, President Compensation: $11,458.33 per month Signing Bonus: 12,500 payable over a six month employment period beginning with date of hire Stock Options: 25,000 shares of stock options, subject to Board of Director approval Special Note: The Board of Directors will issue an Indemnification Agreement to Executive comparable to those issued to other Executive Officers. Health Benefits: Executive shall be eligible for all benefits accorded executive officers, including medical, dental, vision, prescription drug program, life insurance and short term disability for himself and family, upon hire date. 401K Plan: Eligibility requirement of 90 days and Open Enrollment (Quarterly) Start Date: April 1, 2002 Please be advised that this is not a contract of employment. All employment relationships with Community West Bancshares and Goleta National Bank are "at-will." Please sign below as an acknowledgement of this offer and your status of an at-will employee of the Company. Accepted and Agreed: Community West Bancshares - ----------------------------- ------------------------- Phillip E. Guldeman, Steve Haley, President Date: 3/14/02 Date: 3/14/02