Execution
Copy
 EXECUTIVE EMPLOYEE SALARY CONTINUATION AGREEMENT
FOR
TED T. AWERKAMP
 (As Amended and Restated Effective January 1, 2009)
 Mercantile Bank
Quincy, Illinois
     Definitions
 Administrative Committee
 Age




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Change in Control
 Disability
 2




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Discharge for Cause
 Early Retirement Date
 Good Reason
     3




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Involuntary Termination
 Normal Retirement Date
 Specified Employee
 Termination of Employment
 4




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Vesting Exhibit A
 Eligibility
   Payment of Benefits
 Normal Retirement Benefit
  5




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Early Retirement Benefit
 th
 Benefits Upon Disability
 th
 6




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Other Terminations of Employment
 Voluntary Termination of Employment Prior to the Early Retirement Date
 Involuntary Termination of Employment Prior to the Early Retirement Date th
 7




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Involuntary Termination of Employment for Cause
 Change in Control Benefits.
  Survivorship Benefits.
 Prior to Commencement of Normal or Early Retirement Benefits
 8




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After Commencement of Benefits
 Recipients of Payments: Designation of Beneficiary
  9




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Restriction on Timing of Distributions
 th
 Distributions Upon Income Inclusion Under Section 409A of
the Code
  10




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Change in Form or Timing of Distributions
   and
   Administration and Interpretation of this Agreement
  Claims Procedure
  11




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Review Procedure
   12




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Life Insurance and Funding
   13




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Assignment of Benefits
  Employment Not Guaranteed by Agreement
  Taxes
  14




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Amendments and Termination
 Amendments
  Plan Termination Generally
  Plan Terminations Under Section 409A
   15




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Construction
  16




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Form of Communication
  Captions
  Severability
  Binding Effect
  17




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Compliance with Code Section 409A
  18




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Mercantile BankQuincy, IllinoisBy

/s/
J. Blaine Strock IIIJ. Blaine Strock III
Its      President & CEO/s/ Ted T. AwerkampTed T. Awerkamp 19




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Schedule A
 Hypothetical Termination Benefits Schedule
 Ted AwerkampDate of Birth
    
    8/24/1957Plan Anniversary Date
    
    1/1/2010Normal Retirement
    
    8/24/22, Age 65Normal Retirement Payment
    
    Monthly for 15 years
 (1)
    
    (2)
    
    (3)
    
    (4)
    
    (5)NormalDiscount
    
    Retirement
    
    Account
    
    AnnualValue as of:
    
    Rate
    
    Benefit
    
    Value
    
    Benefit1
    
    VestingDec 2008
    
    
    
    
    
    
    
    
    
    
    222,654
    
    
    
    22,434
    
    
    
    0
    %12/31/08 Rollover Accrual Balance12/31/20092
    
    
    6.00
    %
    
    
    68,900
    
    
    
    245,123
    
    
    
    24,698
    
    
    
    0
    %Dec 2010
    
    
    6.00
    %
    
    
    68,900
    
    
    
    268,978
    
    
    
    27,102
    
    
    
    0
    %Dec 2011
    
    
    6.00
    %
    
    
    68,900
    
    
    
    294,305
    
    
    
    29,654
    
    
    
    0
    %Dec 2012
    
    
    6.00
    %
    
    
    68,900
    
    
    
    321,193
    
    
    
    32,363
    
    
    
    100
    %Dec 2013
    
    
    6.00
    %
    
    
    68,900
    
    
    
    349,740
    
    
    
    35,239
    
    
    
    100
    %Dec 2014
    
    
    6.00
    %
    
    
    68,900
    
    
    
    380,048
    
    
    
    38,293
    
    
    
    100
    %Dec 2015
    
    
    6.00
    %
    
    
    68,900
    
    
    
    412,225
    
    
    
    41,535
    
    
    
    100
    %Dec 2016
    
    
    6.00
    %
    
    
    68,900
    
    
    
    446,387
    
    
    
    44,977
    
    
    
    100
    %Dec 2017
    
    
    6.00
    %
    
    
    68,900
    
    
    
    482,655
    
    
    
    48,632
    
    
    
    100
    %Dec 2018
    
    
    6.00
    %
    
    
    68,900
    
    
    
    521,161
    
    
    
    52,512
    
    
    
    100
    %Dec 2019
    
    
    6.00
    %
    
    
    68,900
    
    
    
    562,041
    
    
    
    56,631
    
    
    
    100
    %Dec 2020
    
    
    6.00
    %
    
    
    68,900
    
    
    
    605,443
    
    
    
    61,004
    
    
    
    100
    %Dec 2021
    
    
    6.00
    %
    
    
    68,900
    
    
    
    651,522
    
    
    
    65,647
    
    
    
    100
    %Aug 2022
    
    
    6.00
    %
    
    
    68,900
    
    
    
    683,810
    
    
    
    68,900
    
    
    
    100
    %
 
 1
    
    The annual benefit amount will be distributed in 12
equal monthly payments for a total of 180 monthly payments.2
    
    The first line reflects 12 months of data, January 2009
to December 2009.