Document:

Exhibit 10.5

    

    

    ALL WEST BANCORP

    RESTRICTED STOCK AGREEMENT

     

    THIS RESTRICTED STOCK AGREEMENT (this “Agreement”),
      made to be effective as of __________ (the “Effective Date”) among All West Bancorp, a bank holding company (the “Bancorp”),  FinWise Bank, a Utah chartered bank (the “Bank”), and
      ___________.  Bancorp, Bank and ______________ are hereafter sometimes individually referred to as a “Party” and collectively as the “Parties”.

     

    Whereas, the Bank is a Utah
      chartered full service bank;

     

    Whereas,
      ______________ is an employee of the Bank;

     

    Whereas, Bancorp expects to benefit from ______________’s services to the Bank; and

     

    WHEREAS, the Parties desire to enter into this Restrictive Stock Agreement to provide for the issuance and vesting of
      shares of stock in the Bancorp.

     

    Now Therefore, for and good and valuable consideration, the receipt and sufficiency of which are hereby
      acknowledged the Bancorp, Bank and ______________ agree as follows:

     

    1.          Issuance of Award.  On the Effective Date, Bancorp hereby grants to ______________ an award of _____________ Shares of Common Stock (the “Award”).

     

    2.          Vesting; Forfeiture.

     

    Subject to subsection 2.2, and provided that ______________ is providing services to Bank and its affiliates (each an “Employer” and collectively the “Employers”) in
      any capacity on such date, the shares of the Award shall vest on the following dates: Notwithstanding this Section 2.1, but subject to Section 2.2, the
        Award shall vest in full upon a Capital Event.  For purposes of this Restricted Stock Agreement, “Capital Event” shall mean (i) any consolidation or merger of Bancorp with or into any other corporation or other entity or person in which the
        Shareholders immediately prior to such consolidation or merger own less than fifty percent (50%) of Bancorp’s issues and outstanding shares of stock immediately after such consolidation or merger, excluding any consolidation or merger effected
        exclusively to change the domicile of Bancorp, whereupon the Award is assumed by the successor entity; (ii) a sale of all or substantially all of the assets of Bancorp in a transaction not covered by the exceptions to clause (i) above; or (iii) a
        sale of Bancorp’s equity capital to the general public pursuant to a registration statement filed with and declared effective by the Securities and Exchange Commission under the Securities Act of 1933, as amended (the “Securities Act”).  The Award shall also
        vest in full upon the death or permanent disability of ______________ provided that at the time of such death or disability he was employed by Employer.  For purposes of this section, “permanent disability” means ______________’s inability, due to
        any mental or physical impairment, to perform the essential functions of his position for any consecutive 90-day period as determined by a physician selected by the Board of Directors.

     

    
      
        

    

    
    2.1          If ______________’s
      service with the Bank is terminated by the Bank or ______________ prior to his becoming vested in all of the shares of Common Stock comprising the Award (“Vested
        Shares”), then any part of the Award which ______________ is not vested at the time of such termination, shall be forfeited and cancelled without any payment thereon.

     

    3.          Rights as a Shareholder.  ______________ shall have all rights as a shareholder of common stock for all shares comprising the Award, whether or not
      such shares are vested, including all rights to dividends without any requirement for repayment of dividends on any shares of common stock which are later forfeited, as well as the right to vote; provided, however, ______________ acknowledges that
      unless he has made an election under Section 83(b) of the IRS Code, any amounts paid as dividends on shares that have not vested may be treated as additional compensation to ______________ and ______________ hereby authorizes the Bancorp and/or Bank
      to withhold any taxes or other amounts required to be withheld from such dividends. 

     

    4.          Bancorp Right of First Refusal.  In the event prior to a Capital Event, ______________ receives a bona fide written offer from a third party who is not
      a shareholder to purchase all or any portion of the shares of Bancorp stock owned by ______________, which offer ______________ desires to accept, he may do so, provided that he first offers to sell such shares, or such portion of his shares for
      which the offer was made, to Bancorp in the manner set forth below on the same terms and conditions as offered by the third party by delivering pursuant to this Section 4, a copy of such third party offer to the Chairman of the Bancorp (with a cash
      equivalent value being substituted for any non-cash consideration contained in the third party offer).  The Bancorp shall then have sixty (60) days in which to accept the offer in full on behalf of the Bancorp on the terms and conditions set forth in
      the third party offer.  If the Bancorp fails or declines to exercise its right of first refusal to purchase the stock held by ______________ within the sixty (60) days period set forth above, then ______________ shall be free to accept the offer of
      purchase from the third party, who is not a stockholder, provided he does so within sixty (60) days after the earlier of the end of the Bancorp’s sixty (60) day period or receipt of a waiver of Bancorp of its right to purchase the share and provided
      he consummates the sale of his shares, or portion thereof, without any material variation in the terms and conditions stated in the offer.  If the sixty (60) day period for acceptance expires or if ______________ desires to materially vary any of the
      terms and conditions of the offer, he must follow the procedure set forth above as if he were receiving a new offer of purchase.  In the event ______________ sells only a portion of his shares, he shall follow the provisions set forth herein for any
      offers to purchase the remaining shares held by him.  This Section 4 shall terminate upon a Capital Event and shall not be subject to any right of first refusal.

     

    
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    5.          Restrictions on Transfer of Awards.  The Award may not be transferred without the prior written consent of the Bancorp which consent may be withheld in
      its discretion; provided, however, that the Award may be transferred for estate planning purposes to a trust or limited liability company controlled by ______________.  Any permitted transferee of the Award shall take such Award subject to the terms
      of this Agreement.  Any such permitted transferee must agree to be bound by this Agreement, and shall execute a joinder agreement, and must agree to such other waivers, limitations, and restrictions as the Bancorp may reasonably require.  Any
      transfer of the Award which is not made in compliance with this Agreement shall be null and void and of no effect.

     

    6.          Tax Advice.  ______________ acknowledges that none of the Employers or their agents, employees or representatives have made any warranties or
      representations to ______________ with respect to the income tax consequences of the transactions contemplated by this Agreement, and ______________ is in no manner relying on the Bancorp, the Bank or its agents, employees or representatives for an
      assessment of such tax consequences.

     

    7.          Taxes.  The Bank and Bancorp may withhold from amounts, if any, payable to ______________ any applicable withholding or employment taxes resulting from
      the issuance of Award hereunder, dividends or distribution with respect to the Awards, or from the lapse of any restrictions imposed on the Award.

     

    8.          Lock-Up.  ______________ hereby agrees that if so requested by the Bancorp (any successor thereto) or any representative of the underwriters (the “Managing Underwriter”) in connection with any registration of the offering of any securities of the Bancorp under the Securities Act, ______________
      shall not sell or otherwise transfer any Common Shares (or any securities of the Bancorp in which such Common Shares may be converted) or other securities of the Bancorp during the period as may be requested in writing by the Managing Underwriter and
      agreed to in writing by the Bancorp (the “Market Standoff Period”) following the effective date of a registration statement of the Bancorp filed
      under the Securities Act; provided, however, that such restriction shall apply only to the first registration statement of the Bancorp to become effective under the Securities Act that includes securities to be sold on behalf of the Bancorp to the
      public in an underwritten public offering under the Securities Act.  The Bancorp may impose stop-transfer instructions with respect to securities subject to the foregoing restrictions until the end of such Market Standoff Period.

     

    9.          Remedies.  ______________ shall be liable to the Bancorp and/or Bank for all costs and damages, including incidental and consequential damages,
      resulting from a disposition of the Award which is in violation of the provisions of this Agreement.  Without limiting the generality of the foregoing, ______________ agrees that the Bancorp and/or Bank shall be entitled to obtain specific
      performance of the obligations of ______________ under this Agreement and immediate injunctive relief in the event any action or proceeding is brought in equity to enforce the same.  ______________ will not urge as a defense that there is an adequate
      remedy at law.

     

    
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    10.          Notices.  Any notice, approval, consent, payment, demand or communication required or permitted to be given to any party under this Agreement shall be
      in writing and shall be deemed to have been duly given or made:  (a) if delivered personally by courier or otherwise, then as of the date delivered or if delivery is refused, then as of the date presented; (b) if sent or mailed by Federal Express,
      Express Mail or other reputable overnight courier service to the Bancorp at its principal office address and to ______________ at his address appearing in the current records of the Bancorp, then as of the first business day after the date so sent;
      or (c) if sent or mailed by certified U.S. Mail, return receipt requested, to the Bancorp at its principal office address and to ______________ at his address appearing in the current records of the Bancorp, then as of the third business day after
      the date so mailed.  The address to which notices to a party shall be sent may be changed by such party from time to time by written notice to the other party.

     

    11.          Successors and Assigns.  Subject to the limitations set forth in this Agreement, this Agreement shall be binding upon, and inure to the benefit of, the
      executors, administrators, heirs, legal representatives, successors and assigns of the parties hereto, including, without limitation, any business entity that succeeds to the business of the Bancorp or Bank. Subject to the restrictions on transfer
      herein set forth, this Agreement shall be binding upon ______________ and his or her heirs, executors, administrators, successors and assigns.

     

    12.          Interpretation.  Any dispute regarding the interpretation of this Agreement shall be submitted by ______________ or by the Bancorp or Bank forthwith to
      the Bancorp’s Board which shall review such dispute at its next regular meeting.  The resolution of such a dispute by the Bancorp’s Board shall be final and binding on the Bancorp and Bank and on ______________.

     

    13.          Entire Agreement; Amendments and Waivers.  This Agreement, together with the ______________’ Employment Agreement, constitutes the entire agreement
      among the parties pertaining to the subject matter hereof and supersedes all prior agreements, understandings, negotiations and discussions, whether oral or written, of the parties.  This Agreement may not be amended except in an instrument in
      writing signed on behalf of each of the parties hereto and approved by the Bancorp’s Board.  No amendment, supplement, modification or waiver of this Agreement shall be binding unless executed in writing by the party to be bound thereby.  No waiver
      of any of the provisions of this Agreement shall be deemed or shall constitute a waiver of any other provision hereof (whether or not similar), nor shall such waiver constitute a continuing waiver unless otherwise expressly provided.

     

    14.          Invalidity.  If for any reason one or more of the provisions contained in this Agreement or in any other instrument referred to herein, shall, for any
      reason, be held to be invalid, illegal or unenforceable in any respect, then to the maximum extent permitted by law, such invalidity, illegality or unenforceability shall not affect any other provision of this Agreement or any other such instrument.

     

    15.          Titles.  The titles, captions or headings of the Sections herein are inserted for convenience of reference only and are not intended to be a part of or
      to affect the meaning or interpretation of this Agreement.

     

    
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    16.          No Right to Employment.  ______________ ACKNOWLEDGES AND AGREES THAT THE SHARES HEREIN GRANTED CONTINUE TO VEST ONLY FOR PERIODS DETERMINED WITH
      REFERENCE TO THE PERIOD OF CONTINUED CONSULTANCY OR EMPLOYMENT AT THE WILL OF BANK (NOT THROUGH THE ACT OF BEING HIRED, BEING GRANTED OR ACQUIRING SHARES HEREUNDER).  ______________ FURTHER ACKNOWLEDGES AND AGREES THAT NOTHING IN THIS AGREEMENT,
      SHALL CONFER UPON ______________ ANY RIGHT WITH RESPECT TO CONTINUATION OF EMPLOYMENT OR CONSULTANCY BY BANK OR THE BANCORP, NOR SHALL IT INTERFERE IN ANY WAY WITH ______________ RIGHT OR THE BANK’S OR THE BANCORP’S RIGHT TO TERMINATE ______________
      EMPLOYMENT OR SERVICE AT ANY TIME, WITH OR WITHOUT CAUSE OR NOTICE.

     

    17.          Governing Law.  This Agreement shall be governed by and construed in accordance with the laws of the State of Utah, with regard to the conflict of laws
      principles thereof.

     

    18.          Titles.  The titles, captions or headings of the Sections herein are inserted for convenience of reference only and are not intended to be a part of or
      to affect the meaning or interpretation of this Agreement.

     

    19.          Counterparts.  This Agreement may be executed in any number of counterparts, any of which may be executed and transmitted by facsimile, and each of
      which shall be deemed to be an original, but all of which together shall be deemed to be one and the same instrument.

     

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    IN WITNESS WHEREOF, the parties hereto have executed this Restricted Stock Agreement as of the day and year first above written.

    

    

    	
             

          	
            FINWISE BANK,

              a Utah corporation

          
	
             

          	
             

          
	 	 
	
             

          	
            By: 

          	 
	
             

          	
            Name: 

          	 
	
             

          	
            Its: 

          	 

    

    

    

    

    	
             

          	
            ALL WEST BANCORP,

              a Utah bank holding company

          
	
             

          	
             

          
	 	 
	
             

          	
            By: 

          	 
	
             

          	
            Name: 

          	 
	
             

          	
            Its: 

          	 

    

    

    

    

     

    ______________ hereby accepts and agrees to be bound by all of the terms and conditions of this Agreement.

    

    

    	
             

          	 
	
             

          	
             

          
	 	 
	 	 
	 	 
	 	 

    

    

    

    

  

  6Exhibit 10.6

   

   

  
    CERTAIN INFORMATION CONTAINED IN THIS EXHIBIT, MARKED BY [****], HAS BEEN EXCLUDED FROM THIS EXHIBIT PURSUANT TO ITEM 601(b)(10) OF SEC REGULATION S-K BECAUSE FINWISE BANCORP (THE “REGISTRANT”) HAS
      DETERMINED THAT SUCH INFORMATION (I) IS BOTH NOT MATERIAL AND IS THE TYPE THAT THE REGISTRANT CUSTOMARILY AND ACTUALLY TREATS AS PRIVATE OR CONFIDENTIAL AND (II) CERTAIN OF THIS INFORMATION WOULD LIKELY CAUSE COMPETITIVE HARM TO THE REGISTRANT IF
      PUBLICALLY DISCLOSED.

    

  

   

  

  2018 EMPLOYMENT AGREEMENT

   

  THIS 2018 EMPLOYMENT AGREEMENT (the “Agreement”) is made as of the 1st day of January, 2018 among All West Bancorp, a Utah community bank holding company (the “Holding Company”) and its
      wholly-owned subsidiary FinWise Bank, (the “Bank”) and David Tilis, an individual (the “Executive”).

   

  WHEREAS, Executive serves as the Senior Vice
      President – Director of Specialty Lending;

   

  WHEREAS, the Bank and Executive are parties to an Employment Agreement
      dated February 5, 2016 that expires on December 31, 2017;

   

  WHEREAS, Executive desires to continue to serve as an executive of the
      Bank as the Senior Vice President – Director of Specialty Lending;

   

  NOW, THEREFORE, in consideration of the mutual covenants and
      undertakings made herein, the Bank and the Executive, each intending to be legally bound, hereby agree as follows:

   

  1.            Employment as Employee. Executive hereby accepts employment, as the Senior Vice President – Director of Specialty Lending or other agreed upon role upon the terms and conditions set forth in this Agreement.

   

  2.            Term of Employment.
      Subject to the terms hereof the term of this agreement, Executive’s employment under this Agreement shall commence on January 1, 2018 (the “Effective Date”) and shall continue until March 15, 2022 (the “Term”) unless earlier terminated pursuant to the provisions hereof.

   

  3.            Position. The Executive
      shall be employed as the Senior Vice President – Director of Specialty Lending, and shall perform such
        duties as may be assigned to the Executive from time to time by the President of the Bank. The Executive’s employment will be on a fulltime basis in New York, subject to such travel as may be required from time
        to time to perform Executive’s duties. The Executive further agrees to devote his full time and attention to the business of the Bank and to perform such duties as may be required of him to the best of his
        abilities, and will not accept any other employment without the prior written consent of the President of the Bank.

   

  

  
     

    
      
 

  

   

  4.            Compensation. The Bank shall pay to the Executive compensation for his services during the Term of Employment as follows:

   

  (a)            An annual salary of $300,000
      during the Term on a pro-rata basis at least monthly in accordance with the Bank’s payroll policies.

   

  (b)            The Executive shall
        be eligible to receive annual cash bonuses during the Term. Upon mutual agreement by the parties, the annual bonus may be paid in more frequent installments such as quarterly. It is anticipated that such bonus will be tied to the Pre-Tax Net Profit
        of the Market Place Lending business originated by Executive and his direct reports. For purposes of this Agreement, “Marketplace Lending’ means the practice of pairing
        borrowers and lenders through the use of non-traditional lending such as an online internet based platform without a typical bank intermediary where a third party will assist the Bank to process the loan application and assess, grade and assign an
        interest rate using the marketplace lender’s proprietary credit scoring tool. All bonuses shall be contingent upon satisfaction of mutually agreeable business objectives. Subject to eligibility, any bonuses
        payable during a Term shall be equal to [****] of the Pre-Tax Net Profits of the Market Place Lending line of business generated by the Executive and his direct reports for the first
        [****] of revenues actually received by the Bank in a single calendar year from the Market Place Lending line of business and [****] of Pre-Tax Net Revenue of revenue actually received by the Bank in excess of such [****] for the same calendar
        year. By way of clarification and not limitation, the Bank must first receive revenues from the Market Place Lending business in excess of [****] in a given calendar year for the [****] of Pre-Tax Net Revenue to be
          payable. By way of clarification, the month the Bank receives revenues of [****] that month will convert to [****] from [****].

   

  (c)            For purposes of this Agreement, “Pre-Tax Net Profits” shall mean gross revenues actually collected from business generated by the Executive and his direct reports less all costs and expenses directly attributable
      to the generation of such revenues, including, without limitation, the cost of all materials, equipment, professional fees, provision for loan loss reserves and software as well as the salaries, benefits and other costs of all employees and service
      providers of the Bank providing services in connection with business generated by the Executive; provided, however, if any of the Bank’s employees provide less than full-time services with respect to business
      generated by the Executive, or any of the equipment and software are not exclusively used by the line of business, then such costs will be pro-rated. Costs and expenses used to determine “Pre-Tax Net Profits” shall not include existing fixed overhead (other than the costs of the Bank’s New York office) and executive management, that are not part of the Market Place Lending Line of
      business, but may include future fixed overhead required to conduct business.

   

  

  
     

    
      
 

  

   

  (d)            In addition to compensation set
      forth above, Executive shall be eligible to be paid a commission upon the closing of SBA loans originated solely by Executive as follows:

   

  Executive shall be paid a commission of 1% of the principal loan amount of SBA
      Loans originated by Executive if Business Funding Group (“BFG”) is retained by the SBA borrower to provide services related to the SBA Loan for which the Bank pays BFG a fee
      and a commission of 1⁄2% of the principal loan amount of SBA loans originated by Executive where BFG is not retained to provide services.

   

   

  5.            Benefits. The Executive shall be entitled to receive benefits, including health insurance
      benefits, in accordance with the benefit policies developed for the Bank and approved by the Board of Directors for Senior Executives. In addition to the foregoing, and without limitation, Executive shall be entitled to the following benefits: 

   

    

  (a)            Executive shall be entitled to
      participate in the Bank’s 401(k) plan as soon as he becomes eligible pursuant to the terms of such plan. 

   

  

  (b)            Executive shall be entitled to 16
      days of personal time off (PTO) each year as of the Effective Date. At the beginning of each subsequent year, one additional day will be awarded up to a total of 21 days of PTO per year. 

   

  

  6.            Business Expenses. The
      Company shall promptly reimburse Executive for all reasonable out-of-pocket business expenses that he incurs in fulfilling his duties hereunder, in accordance with the general policy of the Company in effect from time to time; provided that Executive
      furnishes to the Company adequate records and other, documentary evidence required by all federal and state statutes and regulations issued by the appropriate taxes authorities for the substantiation of each such business expense as a deduction on
      the federal or state income tax returns of the Company.

   

  

  
     

    
      
 

  

   

    

  7.           Termination for
          Cause. The Bank may terminate Executive’s employment for Cause, upon written notice to the Executive which notice shall specify the reasons for the termination. In the event of termination for Cause, the Executive shall not be entitled to any
        further payment of benefits or bonuses under this Agreement other than salary accruing up to the date of termination. For purposes of the Agreement, “Cause” shall mean; (i) the failure by the Executive to perform his duties hereunder or the failure
        to abide by the Bank’s employment or other policies, after at least one warning in writing from the Holding Company or the Bank identifying any such failure; (ii) the willful misconduct of the Executive in the performance of his duties hereunder;
        (iii) commission of a crime (other than a minor traffic violation) or the violation of any formal written agreement, memorandum or order governing the Bank or the Executive issued by any federal or state regulatory authority having jurisdiction
        over the Holding Company or the Bank or the Executive; (iv) alcohol and/or drug abuse; (v) excessive absenteeism, after at least one warning in writing from the Holding Company or the Bank; (vi) the unauthorized disclosure or use of any
        confidential information or proprietary data of the Bank; or (vii) the commission of an immoral act that could adversely impact the reputation of the Bank.

   

  8.           Death or Disability. If
      during the Term of Employment, the Executive shall become permanently disabled or is otherwise unable to perform his essential job functions hereunder with or without reasonable accommodation for three (3) consecutive months, or for shorter periods
      aggregating three (3) months, in any twelve (12) month period, or dies, the Bank may terminate the employment of the Executive hereunder upon written notice to the Executive. In such event, the Executive shall not be entitled to any further payments
      or benefits under this Agreement other than: (a) in the case of termination for disability, payments under any disability policy that the Bank may obtain for the benefit of its officers generally and salary accruing up to the date of termination; and
      (b) in the case of death, payments from a Bank-Owned Life Insurance policy, if any, on Executive’s life; provided that the amount payable from the proceeds of such policy shall not exceed the amount that would otherwise be payable to Executive in the
      event of termination of Executive’s employment without cause pursuant to Section 9 below.

   

  
     

    
      
 

  

   

  9.           Termination Without Cause.
      During the Term, the Bank may terminate the Executive’s employment without Cause upon written notice to the Executive. If the Bank terminates the Executive’s employment without Cause, the Bank shall pay the Executive an amount equal to his monthly
      salary each month during the six (6) month period immediately following Executive’s termination without Cause (the ‘‘Severance Payment”). The ‘‘Severance Payment” shall be in addition to any salary accruing up to the date of termination. In addition to the Severance Payment, if Executive is terminated without cause, Executive shall also receive an
      amount equal to the annual bonus otherwise payable pursuant to Section 4(b) above as if Executive had not been terminated (the “Severance Bonus”). Any Severance Bonus payable hereunder shall be paid at the same time and in the same manner as annual
      bonuses; provided, however, that the Bank, at its option, may pay the Severance Bonus in advance of the time it would be payable as an annual bonus, in which event the Severance Bonus shall be calculated based upon the Bank’s performance for the
      18-month period immediately prior to final payment of the Severance Bonus. By way of illustration, and not limitation, if Executive’s employment is terminated without cause on October 1, 2018, the Bank shall pay a portion of the Severance Bonus at
      the same time that it pays annual bonuses to other employees for the 2018 and 2019 calendar years and shall pay the remainder of the Severance Bonus the three-month period ending March, 2020, unless the Bank determines to make payments in advance.

   

  The payment of the “Severance Payment” and
      “Severance Bonus” by the Bank is conditioned upon the Executive resigning from all positions held as an officer and employee of the Bank and providing both the Holding Company and the Bank with a general release, in form and substance acceptable to
      the Holding Company and the Bank, releasing any and all claims Executive may have against the Holding Company, the Bank and/or their officers, directors and affiliates.

   

  Failure to Offer a Renewal Agreement. If, upon
      expiration of this agreement, the Bank does not offer to the Executive a new agreement with substantially similar terms, it is understood that the severance payment and severance bonus outlined in section 9 will not be payable, rather the Bank agrees
      to pay a separate severance payment of six (6) months salary and separate severance bonus six (6) months bonus as calculated in section 9 (the “Failure to Renew Severance and Bonus”). If the Bank offers a new agreement with substantially similar
      terms and the Executive does not accept the agreement, the Failure to Renew Severance and Bonus will not be paid.

   

  
     

    
      
 

  

   

  In the event the Executive’s employment
      hereunder shall be terminated by the Bank without Cause, the Executive shall be obligated to promptly inform the Bank of any new employment. Except as set forth in this Section 9, the Executive shall not be entitled to any other payments or benefits
      following a termination without Cause. Notwithstanding the foregoing, in the event the Bank is at any time classified as a troubled institution, or to the extent that Severance Payments, if paid, would constitute a “golden parachute payment” within
      the meaning of 12 CFR part 39, no such payment shall be paid or payable to Executive without the prior consent of the federal and state regulators having jurisdiction over the Bank and the Holding Company or either of them.

   

  10.          Resignation. The Executive may resign from his employment with the Bank hereunder at any time during the Term for any reason upon sixty (60) days prior written notice.

   

  		11.	Confidentiality; Non-Disclosure; Non-Competition.

   

  (a)           Except as may be
        required in the course of his employment with the Bank and in pursuit of the business of the Bank, the Executive shall not, at any time during or following the Term of Employment, disclose to any person or use any confidential information or
        proprietary data of the Holding Company and/or the Bank, or their subsidiaries, if any. The Executive agrees that all information concerning the Holding Company’s and/or the Bank’s relations with their customers is confidential information. The
        obligations of the Executive under this Section 11(a) shall survive the termination of the Executive’s employment hereunder and the expiration of this Agreement.

   

  (b)           The Executive
        agrees that for a period of twelve (18) months after the termination of his employment hereunder for any reason, he will not directly or indirectly solicit, cause any other person to solicit, or assist any other person with soliciting any customer,
        referral source, loan originator, depositor or borrower of the Holding Company or the Bank to become a customer, referral source, loan originator, depositor or borrower of another financial institution. Executive further agrees that for a period of
        twelve (18) months after the termination of his employment hereunder for any reason, he will not directly or indirectly participate in the solicitation of any employee, consultant or agent of the Bank to cease their employment with the Bank or to
        accept employment or a consulting or agency position with any other person or entity.

   

  
     

    
      
 

  

   

  

  12.       No Improper Use of Information of Prior Employers and Others.
      Executive agrees not to improperly use or disclose any confidential information or trade secrets, if any, of any current employer (prior to being employed by the Bank) and any former employer or any other person to whom Executive has an obligation of
      confidentiality, and Executive will not bring onto the premises of the Bank, nor use for the benefit of the Bank, any property belonging to any former employer or any other person to whom Executive has an obligation of confidentiality unless
      consented to in writing by that former employer or person. Executive will use in connection with his Employment with the Bank only information which is generally known and used by persons with training and experience comparable to Executive’s
      training and experience, which is common knowledge in the industry or otherwise legally in the public domain, or which is otherwise provided or developed by the Bank.

   

  13.      Waiver of Breach. The waiver by any party hereto of a breach of any
      provision of this Agreement shall not operate nor be construed as a waiver of any subsequent breach, nor shall any waiver of any provision of this Agreement in any instance shall be deemed to be a waiver of any other provision in any other instance.

   

  14.       Representation by Counsel. The Executive represents and warrants to
      the Holding Company and the Bank that he has been advised to retain legal counsel in connection with the preparation, negotiation and execution of the Agreement.

   

  15       Governing Law. The Term of this Agreement shall be governed by, and
      interpreted and construed in accordance with the laws of Utah applicable to agreements made and fully to be performed in such state. Notwithstanding the foregoing, in the event that Executive initiates a lawsuit against the Bank, Executive shall
      initiate such lawsuit in Salt Lake County, State of Utah. In the event that the Bank initiates a lawsuit against the Executive, the Bank shall initiate that lawsuit in state or federal courts located in the State of New York.

   

  16.       Entire Agreement; Amendment. This Agreement sets forth the entire
      understanding of the parties hereto with respect to its subject matter and supersedes all prior agreements, negotiations and understandings, written or oral, with respect to matters covered hereby. The amendments or termination of this Agreement may
      be made only in a writing executed by the Holding Company, the Bank and the Executive, and no amendment or termination of this Agreement shall be effective unless and until made in such a writing.

  
     

    
      
 

  

   

  17.       Assignment. This Agreement is personal to the Executive and the Executive may not assign any of his rights or duties hereunder, but this Agreement shall be enforceable by the Executive’s legal
      representatives, executors or administrators. This Agreement may be assigned by the Holding Company and/or the Bank to any entity which acquires all or substantially all of the assets of the Holding Company existing at the time of such acquisition,
      or with or into which the Holding Company is consolidated or merged.

   

  18.       Severability. The invalidity or unenforceability of any provision or provisions of this Agreement shall not affect the validity or enforceability of any other provision of this Agreement, which
      shall remain in full force and effect.

   

  19.       Counterparts. This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, and together shall constitute one and the same instrument.

   

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  IN WITNESS WHEREOF, the Holding Company and the Bank have caused this Agreement to be
      signed by its duly authorized officer, and the Executive has executed this Agreement, as of the day and year first written above.

   

  

  	ALL WEST BANCORP	 
	 	 	 
	By:	/s/ Kent Landvatter	 
	Name: 	Kent Landvatter 	 
	Title: 	Chief Executive Officer	 
	 	  	 
	FinWise BANK	 
	 	 	 
	By:	/s/ Kent Landvatter 	 
	Name: 	Kent Landvatter 	 
	Title: 	President	 
	 	 	 
	EXECUTIVE	 
	 	 	 
	By: 	/s/ David Tilis	 
	Name: 	David Tilis

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00330-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00330-of-00352.parquet"}]]