Exhibit 10.1

      

      

      

      

      

      May 17, 2022

      

      

      By Hand

      

      

      Mr. James Noone

      EVP and Chief Credit Officer

      FinWise Bank

      

      

      	Re:	
              Retention Bonus

            


      

      

      Dear Jim:

      

      

      We are writing to memorialize the terms of your Retention Bonus.

      

      

      FinWise Bank (the “Bank”) and FinWise Bancorp (the “Company”) consider it to be in the best interests of the Bank and the Company to promote and preserve your
        employment with the Bank.  Accordingly, the Bank is pleased to offer you the opportunity to receive the Retention Bonus (as defined below), subject to the terms and conditions set forth herein.

      

      

      1.          Retention Bonus. You will have the
            opportunity to receive a cash bonus of $520,000, less applicable deductions and withholdings (the “Retention Bonus”).  The Bank advanced you 50% of the Retention Bonus on April 1, 2022.   The remaining 50% of the Retention Bonus will have a
            measurement date on January 15, 2023 (the “Measurement Date”) with payment to be made in the next payroll cycle immediately following the Measurement date, subject to the terms and conditions set forth below.

      

      

      2.          To receive the remaining 50% of the
            Retention Bonus, you must be actively employed by the Bank through the Measurement Date.

      

      

      3.          At-Will Employment. Nothing in this
            letter agreement shall be construed to alter the at-will nature of your employment with the Bank. This means either you or the Bank can end your employment at any time, with or without cause and with or without notice.

      

      

      4.          Integration Clause; Acknowledgement.
            This letter agreement contains the entire agreement between you and the Bank and Company relating to the Retention Bonus and supersedes any and all prior agreements and understandings related to the Retention Bonus.  This letter agreement
            cannot be changed or modified except by formal written instrument executed by you and the CEO of the Bank or another person authorized by the Board of Directors.

      

      

      By signing below where indicated, you acknowledge and agree to the terms herein and that the Retention Bonus is entirely separate from your base compensation as
        well as from any performance bonus or severance to which you might otherwise be eligible.

      

      

      756 East Winchester Street, Suite 100, Murray, Utah 84107

      

      

      
        
          


      

      	
              Mr. James Noone

            	 
	
              May 17, 2022

            	
              Page 2

            


      

      

      Sincerely,

      

      

      	
              /s/ Kent Landvatter

            	 
	 	 
	
              Kent Landvatter

            	 
	
              President and CEO

            	 


      

      

      	
              ACKNOWLEDGED AND AGREED:

            
	 	 
	
              /s/ James Noone

            	 
	
              James Noone

            	 
	
              EVP and Chief Credit Officer

            	 


      

      

      756 East Winchester Street, Suite 100, Murray, Utah 84107 – 801.501.7200

      www.FinWiseBank.com