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 |
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| AGREED AND ACCEPTED: | |||
| /s/ Arthur Wasson | 6/23/2023 | ||
| Arthur Wasson | Date | ||
1732 North 1st Street, 6th Floor, San Jose, CA 95112 |
Telephone 408.200.7390 Fax 408.200.7399 |