Preheat oven to 350 degrees F. Line a 8-inch-by-8-inch square baking pan with parchment so that it overlaps on all sides.

In a stand mixer fitted with the paddle attachment, cream butter and sugar until light and fluffy and pale in color. Scrape down the sides of the bowl.

Add the egg, vanilla extract, and almond extract; beat until combined. Add the flour and salt to the bowl and beat until just combined. Fold in the slivered almonds.

Transfer the dough to the prepared pan. Press the dough evenly into the pan. Spread the cherry preserves evenly over the dough and sprinkle with the sliced almonds.

Bake for 25-30 minutes, or just until the sides begin to turn light golden brown. Cool completely in the pan. Cut into squares. The bars will stay fresh in an airtight container at room temperature for 3 days or in the refrigerator for up to 7 days. They're best served at room temperature.