Terms of Employment Arrangement Between Bay National Bank and David E. Borowy
Bay National Bank
Borowy was retained effective November 17, 2008 and is employed on an at-will
basis at a rate of pay of $150,000 as of November 2009. Mr. Borowy is
also eligible for incentive bonuses at the discretion of the Compensation
Committee of the Board of Directors, and is entitled to all benefits available
to full time employees of Bay National Bank.
discretionary bonuses were paid to Mr. Borowy for the period ended December 31,