GUARANTEE AGREEMENT BAY NATIONAL CORPORATION Dated as of December 12, 2005Guarantee Agreement • March 30th, 2006 • Bay National Corp • National commercial banks • New York
This GUARANTEE AGREEMENT (the “Guarantee”), dated as of December 12, 2005, is executed and delivered by Bay National Corporation, a bank holding company incorporated in the State of Maryland (the “Guarantor”), and Wilmington Trust Company, a Delaware banking corporation, as trustee (the “Guarantee Trustee”), for the benefit of the Holders (as defined herein) from time to time of the Capital Securities (as defined herein) of Bay National Capital Trust I, a Delaware statutory trust (the “Issuer”).
Terms of Employment Arrangement between Bay National Bank and Mark A. SemanieBay National Corp • March 30th, 2006 • National commercial banks
Mr. Semanie is employed on an at will basis at a rate of pay of $180,000 as of January 1, 2006. Mr. Semanie 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.
