December 21, 2006 Zoe P. Erdman Re: Employment Agreement Dear Zoe:Employment Agreement • November 19th, 2007 • Merchants Bancshares Inc • State commercial banks
I, as the Chair of the Board of Directors of Merchants Bank, a Vermont chartered bank ("the Corporation"), am pleased to provide you with the following letter agreement to confirm the terms of your employment with the Corporation. We have been authorized by the Corporation's Board of Directors to negotiate and execute this letter agreement, and will furnish the certificates of the Resolutions granting such authority upon request.
