exv10w14



 





EXHIBIT 10.14




EXTENSION AGREEMENT

DATA PROCESSING CONTRACT




Between Mercantile Bank of Michigan and Fiserv Solutions, Inc

Under the Terms of the Agreements

Dated December 10, 1997 and

November 21, 2002



WHEREAS it is in the best interest of Mercantile Bank of Michigan (Client) and Fiserv Solutions,
Inc. (Fiserv) to extend the relationship represented by the above captioned contract and extension




     and


WHEREAS such extension shall provide for terms and conditions in addition to those in the current
contract.



The parties to the agreement hereby agree to the following additional terms and conditions. These
are understood to be additional terms except in the instances where they conflict with the original
contract in which case the terms of this Extension Agreement will take precedence. All
non-conflicting terms and conditions of the original contract will continue to apply during the
extension term.




TERM



The term of the agreement is extended four (4) years from July 1, 2007 and shall expire June 30,
2011.



Pricing conditions of this agreement shall commence January 1, 2007.




COST OF LIVING INCREASES



The prices contained in this Agreement are subject to an annual cost of living adjustment on each
anniversary date of this Agreement and are based on the Revised National Consumer Price Index for
Urban Wage Earners and Clerical Workers (1967-100) published by the Bureau of Labor Statistics of
the U.S. Department of Labor (or if not published, the index specified by such Bureau or its
successor or being most comparable) (the “CPI” Index), not to exceed 2% per annum.



Fiserv waives the Cost of Living Increase scheduled for January 1, 2007. The annual increases
shall begin January 1, 2008.




PRICING



Fiserv will discount monthly processing and installation of new products and services twenty-two
percent (22%). The discount will be applied to all “above the line” products or services and is
not applicable to third party or pass-through fees such as network or shipping fees. “Above the
line” products and services are those that are listed on the invoice under the section titled “Base
Processing.”



The discount shall be effective beginning with the processing month of January 1, 2007.



The “Base Processing Fee” for all open and closed deposit and loan accounts will be $0.64 prior to
the application of the applicable above discount.






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ADDITIONAL MODULES



The following modules that were previously agreed to by individual amendments are included under
this Agreement. The fees listed were those that were originally agreed to and have been and
continue to be subject to Cost of Living Increases. All monthly fees unless noted are for each
open and closed deposit and loan account on the system and minimums listed are for each month of
processing




	 	 	 
	On-line Loan Collections Module (OLC)

	 	 $0.015/$200 minimum
	Check Reconciliation System (CRS)

	 	 $0.01
	Delinquent Child Support Module (DCS) with Tier Tech

	 	 $0.025
	OFAC Processing Module (ORM)

	 	 $275 per month flat fee
	Centralized Prime (monthly extracts)

	 	 $0.03/$400 minimum
	Fiserv EFT Auto-Maintenance

	 	 $250 per month flat fee
	Fiserv EFT Waive Surcharge

	 	 $0.005/$200 minimum
	Carreker Deposit and On Us Fraud Protection

	 	 $0.035/$780 minimum
	Safe Deposit Module

	 	 $0.015/$150 minimum
	Electronic Cash Letter for Business Resumption

	 	 $250.00 per run (determined
by Client-per item fees per original Agreement)
	Fiserv EFT Auto-Reconciliation

	 	 $0.01/$300 minimum
	Enterprise Leased Premier Platform License

	 	 $0.05/$1145 minimum
	Centralized Premier Platform Processing

	 	 $0.015/$200
	Special Memo-post Daily Processing

	 	 $0.05 per item memo-posted/$250 minimum
	S1 Online Internet Banking Interface

	 	 $0.03/$475 minimum
	Premier Messenger

	 	 $0.015
	Carreker Kiting Module

	 	 $0.028
	Custom Wire Transfer Interface for Fundtech’s PAYPlus

	 	 $0.015/$350 minimum
	Transaction Management System

	 	 $0.02
	Health Savings Accounts (HSAs)

	 	 $0.01/$300 minimum
	Daily Creation of BAI Formatted File and
Name and Address
	 	 
	File for S1 Internet Banking Online Interface

	 	 $450.00 per month flat fee
	MOVEit EZ (annual maintenance of $150.00)

	 	 20 percent
	Check Image Processing (CIP) for DCM Item Processing

	 	 $0.02/$300 minimum
	(Client may discontinue this service at any time)
	 	 






CLIENT NAME CHANGE



As of August 1, 2005, the “Client” under the Agreements shall be Mercantile Bank of Michigan. This
name change shall not result in any change to Client’s existing of future obligations under the
Agreements.




ACQUISITION CONVERSION COSTS



During the term of the agreements listed above and this agreement, Fiserv will accept a contract
extension of one year per acquisition in lieu of charges for the data conversion and database
merger. Extraordinary circumstances (acquisition size greater than 75% of existing institution,
account renumbering, etc.) may create additional mutually agreeable charges to be incurred by
Client. All charges for training conducted by Fiserv or ITI personnel will be charged at the then
current rates. All travel and out-of-pocket expenditures for Fiserv or ITI personnel will be
charged at the then current rates. The monthly costs for the acquired accounts will be charged as
specified in the original contract, Exhibit A-2 and this contract extension agreement.




SHOWCASE INCENTIVE



After client installs Premier eCom and Premier eCorp, Fiserv agrees to provide a processing credit
as an incentive for showcase visitations to qualified prospects which result in a new Fiserv
Brookfield ITI client. A showcase visitation is a visitation by a prospective client of Fiserv
that is supported at Client’s site during the decision process. For each showcase visitation that
results in a Fiserv Brookfield client for ITI services Fiserv will provide a credit of $2,500.





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CONFIDENTIALITY



Fiserv and Client agree to keep confidential without disclosure to third parties, the prices,
terms, and conditions of this Agreement.



In witness whereof, the parties hereto have caused this Extension Agreement to be executed by their
duly authorized representatives as of the date indicated below.




	 	 	 	 	 	 	 	 	 
	Mercantile Bank of Michigan	 	 	 	 	 	Fiserv Solutions, Inc.
	 
	 	 	 	 	 	 	 	 
	By:

	 	/s/ John Schulte
	 	 	 	By:
	 	/s/ James T. Cross
	 
	 	 	 	 	 	 	 	 
	Name:

	 	John Schulte
	 	 	 	 	 	Name: James T. Cross
	 
	 	 	 	 	 	 	 	 
	Title:

	 	SVP – Chief Information Officer
	 	 	 	Title:
	 	President, ITI Outsourcing
	 

	 	 	 	 	 	 	 	Central Region
	 
	 	 	 	 	 	 	 	 
	Dated:

	 	December 17, 2006
	 	 	 	 	 	Dated: December 20, 2006






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