EX-10.6 10 avidbankholdings_ex10-6.htm EXHIBIT 10.6

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 408.200.7390 Fax 408.200.7399