Document:

<PAGE>

                             COMMUNITY CENTRAL BANK
                               DEATH BENEFIT PLAN

                            EFFECTIVE JANUARY 1, 2003

                                     PURPOSE

     The purpose of the Plan is to provide supplemental death benefits to a
select group of employees who contribute materially to the continued growth,
development and future business success of Community Central Bank, Community
Central Bank Corporation and their affiliated entities. The Plan shall be
unfunded for tax purposes and for purposes of Title I of ERISA.

                                    ARTICLE I
                                   DEFINITIONS

     For purposes of the Plan, unless otherwise clearly apparent from the
context, the following phrases or terms shall have the following indicated
meanings:

     "Bank" shall mean Community Central Bank, and any successor to all or
     substantially all of the assets or business of the Bank.

     "Beneficiary" shall mean one or more persons, estates or other entities,
     designated in accordance with Article 5, that are entitled to receive
     benefits under the Plan upon the death of a Participant.

     "Beneficiary Designation Form" shall mean the form established from time to
     time by the Committee that a Participant completes, signs and returns to
     the Bank or the Committee to designate one or more Beneficiaries.

     "Board" shall mean the board of directors of the Bank or the Holding
     Company.

     "Change in Control" shall mean the first to occur of any of the following
     events:

     (a)  An acquisition of control of the Bank within the meaning of the Bank
          Holding Company Act of 1956 and 12 C.F.R. Part 303.82 as in effect on
          the date hereof that is not subject to rebuttal;

     (b)  Any event that would be required to be reported in response to Item 1
          of the current report on Form 8-K, as in effect on the date hereof,
          pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
          (the "Exchange Act") if the Exchange Act were applicable to the Bank;

     (c)  Any "person" (as that term is used in Section 13 and 14(d)(2) of the
          Exchange Act), other than the Holding Company or an affiliate of the
          Holding Company, becomes the beneficial owner (as that term is used in
          Section 13(d) of the Exchange Act), directly or indirectly, of 25% or
          more

                                        1

<PAGE>

          of the Bank's outstanding securities entitled to vote in the election
          of directors;

     (d)  Individuals who are members of the board of directors of the Holding
          Company on the date of adoption of this Plan (the "Incumbent Board")
          cease for any reason to constitute at least a majority thereof,
          provided that any person becoming a director subsequent to the date of
          adoption of this Plan whose election was approved by a vote of at
          least three-quarters of the directors comprising the Incumbent Board,
          or whose nomination for election by the Holding Company's stockholders
          was approved by a nominating committee serving under an Incumbent
          Board, shall be considered a member of the Incumbent Board;

     (e)  The sale of all or substantially all of the assets of the Bank or the
          Holding Company, excluding transfers to entities that are within a
          "controlled group of corporations" (as defined in Code Section 1563)
          in which the Bank is the parent corporation; or

     (f)  A reorganization, merger, consolidation or similar transaction
          involving the Holding Company in which the Holding Company is not the
          resulting entity or the Holding Company is the resulting entity but
          the stockholders of the Holding Company immediately prior to such
          transaction do not own at least 50% of the voting securities of the
          Holding Company immediately following the completion of such
          transaction.

     "Claimant" shall have the meaning set forth in Section 10.1.

     "Code" shall mean the Internal Revenue Code 1986, as it may be amended from
     time to time.

     "Committee" shall mean the committee described in Article 8.

     "Employee" shall mean a person who is classified as an employee of the Bank
     or the Holding Company.

     "Equivalent Actuarial Value" shall mean a benefit of equivalent value to
     another benefit or form of benefit, computed using an interest rate factor
     of 7 percent per annum. Effective January 1, 2007, the Equivalent Actuarial
     Value of a benefit shall be determined using an interest rate equal to the
     then-current effective yield on the United States Treasury 10-year note,
     plus 100 basis points; provided, however that the interest rate shall not
     exceed 7 percent per annum.

     "ERISA" shall mean the Employee Retirement Income Security Act of 1974, as
     it may be amended from time to time.

     "Holding Company" shall mean Community Central Bank Corporation, the parent
     corporation of the Bank.

                                        2

<PAGE>

     "Participant" shall mean any Employee (i) who is selected to participate in
     the Plan, (ii) who signs a Plan Agreement and a Beneficiary Designation
     Form and (iii) whose signed Plan Agreement and Beneficiary Designation Form
     are accepted by the Bank or the Committee. A spouse or former spouse of a
     Participant shall not be treated as a Participant in the even if he or she
     has an interest in the Participant's benefits under the Plan as a result of
     applicable law or property settlements resulting from legal separation or
     divorce.

     "Plan" shall mean this Death Benefit Plan, which shall be evidenced by this
     instrument and by each Plan Agreement, as they may be amended from time to
     time.

     "Plan Agreement" shall mean a written agreement, as may be amended from
     time to time, which is entered into by and between the Bank or the Holding
     Company and a Participant. Should there be more than one Plan Agreement,
     the Plan Agreement bearing the latest date of acceptance by the Bank or the
     Holding Company shall supersede all previous Plan Agreements in their
     entirety and shall govern such entitlement. The terms of any Plan Agreement
     may be different for any Participant, and any Plan Agreement may limit the
     benefits otherwise provided under the Plan.

     "Pre-Commencement Death Benefit" shall mean a single sum amount equal to
     the Equivalent Actuarial Value of the Participant's SERP Benefit. The
     determination of a Participant's Pre-Commencement Death Benefit shall be
     determined by the Committee, which determination shall be conclusive and
     binding on all persons.

     "Post- Commencement Death Benefit" shall mean a single sum amount equal to
     the Equivalent Actuarial Value of the Participant's remaining payments
     under his SERP Benefit at the time of the Participant's death. The
     determination of a Participant's Post-Commencement Death Benefit shall be
     determined by the Committee, which determination shall be conclusive and
     binding on all persons.

     "SERP" shall mean the Community Central Bank Supplemental Executive
     Retirement Plan, as in effect at the relevant time.

     "SERP Benefit" shall mean with respect to any Participant, his vested
     Annual Benefit as determined under the SERP. The SERP Benefit shall be
     determined by the Committee in its sole discretion.

     "Tax Gross-Up Amount" shall mean an amount to compensate a Participant's
     Beneficiary for federal, state and local income and employment taxes
     attributable to the Participant's Death Benefit. A Participant's Tax-Gross
     Up Amount shall be 45 percent of the Participant's Pre-Commencement Death
     Benefit or Post-Commencement Death Benefit, as the case may be.

                                        3

<PAGE>

     "Trust" shall mean any trust established between the Bank or the Holding
     Company and the trustee named therein to provide benefits hereunder, as
     amended from time to time.

                                    ARTICLE 2
                       SELECTION, ENROLLMENT, ELIGIBILITY

2.1  SELECTION BY COMMITTEE. Participation in the Plan shall be limited to a
     select group of management and highly compensated Employees, as determined
     by the Committee in its sole discretion from time to time. From that group,
     the Committee shall select, in its sole discretion, Employees to
     participate in the Plan.

2.2  ENROLLMENT REQUIREMENTS. As a condition to participation, each selected
     Employee shall complete, execute and return to the Bank or the Committee a
     Plan Agreement and a Beneficiary Designation Form. In addition, the
     Committee shall establish from time to time such other enrollment
     requirements as it determines in its sole discretion are necessary or
     appropriate.

2.3  ELIGIBILITY; COMMENCEMENT OF PARTICIPATION. Provided an Employee selected
     to participate in the Plan has met all enrollment requirements set forth in
     the Plan and required by the Committee, including returning all required
     documents to the Bank or the Committee, that Employee shall commence
     participation in the Plan on the date his Plan Agreement is executed by the
     Bank or the Holding Company.

2.4  TERMINATION OF PARTICIPATION. If the Committee determines in good faith
     that a Employee no longer qualifies as a member of a select group of
     management or highly compensated employees, as membership in such group is
     determined in accordance with Sections 201(2), 301(a)(3) and 401(a)(1) of
     ERISA, the Committee shall have the right, in its sole discretion, to
     terminate the Employee's participation in the Plan.

                                    ARTICLE 3
                                 DEATH BENEFITS

3.1  DEATH BENEFITS. If a Participant dies prior to the commencement of his SERP
     Benefit, then there shall be paid to the Participant's Beneficiary a single
     sum amount equal to the Participant's Pre-Commencement Death Benefit plus
     the Tax Gross-Up Amount. If a Participant dies after the commencement of
     his SERP Benefit under the SERP, then there shall be paid to the
     Participant's Beneficiary a single sum equal to the Participant's
     Post-Commencement Death Benefit plus the Tax Gross-Up Amount. Payment of a
     Participant's death benefit hereunder shall be made as soon as
     administratively practicable after the Participant's death.

                                        4

<PAGE>

3.2  TAX WITHHOLDING FROM DISTRIBUTIONS. The Bank, the Holding Company, or the
     trustee of the Trust, if applicable, shall withhold from any payments made
     to a Participant's Beneficiary all federal, state and local income,
     employment and other taxes required to be withheld by the Bank, the Holding
     Company, or the trustee of the Trust, in connection with such payments, in
     amounts and in a manner to be determined in the sole discretion of the
     Bank, the Holding Company and the trustee of the Trust, if applicable.

                                    ARTICLE 4
                                     FUNDING

4.1  FUNDING GENERALLY. The Bank's or the Holding Company's obligations under
     the Plan shall be an unfunded and unsecured promise to pay. The Bank or the
     Holding Company shall not be obligated under any circumstances to fund in
     advance its obligations under the Plan, and when the benefit amount is paid
     it shall be expensed out of the Bank's or the Holding Company's general
     assets.

4.2  OPTION TO FUND INFORMALLY. The Bank or the Holding Company may, at its sole
     option, or by agreement, informally fund its obligations under the Plan in
     whole or in part, provided, however, that in no event shall such informal
     funding be construed to create any trust fund, escrow account or other
     security for any Participant or Beneficiary with respect to the payment of
     any benefit under the Plan, other than as permitted by Internal Revenue
     Service and Department of Labor rules and regulations for unfunded
     supplemental retirement plans.

                                    ARTICLE 5
                             BENEFICIARY DESIGNATION

5.1  BENEFICIARY. Each Participant shall have the right, at any time, to
     designate his Beneficiary(ies) (both primary as well as contingent) to
     receive any benefits payable under the Plan upon the death of the
     Participant. The Beneficiary designated under the Plan may be the same as
     or different from the Beneficiary designated under any other plan of the
     Bank or the Holding Company in which the Participant participates.

5.2  BENEFICIARY DESIGNATION: CHANGE; SPOUSAL CONSENT. A Participant shall
     designate his Beneficiary by completing and signing the Beneficiary
     Designation Form and returning it to the Bank or the Committee. A
     Participant shall have the right to change a Beneficiary by completing,
     signing and otherwise complying with the terms of the Beneficiary
     Designation Form and the Committee's rules and procedures, as in effect
     from time to time. If the Participant names someone other than his spouse
     as a Beneficiary, a spousal consent, in the form designated by the
     Committee, must be signed by that Participant's spouse and returned to the
     Bank or the Committee. Upon the acceptance by the Bank or the Committee of
     a new Beneficiary Designation Form, all Beneficiary designations previously
     filed shall be canceled. The Committee shall be entitled to rely on the
     last Beneficiary Designation Form filed by the Participant and accepted by
     the Bank or the Committee prior to his death.

                                        5

<PAGE>

5.3  ACKNOWLEDGMENT. No designation or change in designation of a Beneficiary
     shall be effective until received and acknowledged in writing by the Bank
     or the Committee.

5.4  NO BENEFICIARY DESIGNATION. If a Participant fails to designate a
     Beneficiary as provided in Sections 5.1, 5.2 and 5.3 above or, if all
     designated Beneficiaries predecease a Participant or die prior to complete
     distribution of the Participant's benefits, then a Participant's designated
     Beneficiary shall be deemed to be his surviving spouse. If a Participant
     has no surviving spouse, the benefits remaining under the Plan to be paid
     to a Beneficiary shall be payable to the Participant's estate.

5.5  DOUBT AS TO BENEFICIARY. If the Committee has any doubt as to the proper
     Beneficiary to receive payments pursuant to the Plan, the Committee shall
     have the right, exercisable in its discretion, to cause the Bank or the
     Holding Company to withhold such payments until this matter is resolved to
     the Committee's satisfaction.

5.6  DISCHARGE OF OBLIGATIONS. The payment of benefits under the Plan to a
     Beneficiary shall fully and completely discharge the Bank, the Holding
     Company and the Committee from all further obligations under the Plan with
     respect to the Participant.

                                    ARTICLE 6
                                LEAVE OF ABSENCE

     If a Participant is authorized by the Bank or the Holding Company for any
reason to take a leave of absence from employment with the Bank or the Holding
Company, such Participant shall continue to be considered employed by the Bank
or the Holding Company during such leave of absence (and therefore eligible for
a benefit under this Plan should the Participant die while on such leave of
absence).

                                    ARTICLE 7
                     TERMINATION, AMENDMENT OR MODIFICATION

7.1  TERMINATION. Although the Bank anticipates that it will continue as a
     sponsor of the Plan for an indefinite period of time, there is no guarantee
     that it will continue as a sponsor of the Plan or will not terminate its
     sponsorship of the Plan at any time in the future. Accordingly, the Bank
     reserves the right to terminate the Plan in its entirety at any time, or
     terminate its sponsorship of the Plan at any time with respect to any or
     all of its Participants, by action of the Board. Upon termination of
     sponsorship of the Plan by the Bank or termination of the Plan, no benefits
     shall be paid under this Plan; provided, however, that the termination of
     sponsorship of the Plan or the termination of the Plan shall not adversely
     affect any Beneficiary who has become entitled to the payment of any
     benefits under the Plan as of the effective date of termination.

                                        6

<PAGE>

7.2  AMENDMENT. The Bank may, at any time, amend or modify the Plan in whole or
     in part by action of the Board. The amendment or modification of the Plan
     shall not affect any Beneficiary who has become entitled to the payment of
     benefits under the Plan as of the date of the amendment or modification.

7.3  EFFECT OF PAYMENT. The full payment of the applicable benefit under the
     Plan shall completely discharge all obligations to a Participant and his
     designated Beneficiaries under the Plan.

                                    ARTICLE 8
                                 ADMINISTRATION

8.1  COMMITTEE DUTIES. The Plan shall be administered by a Committee which shall
     consist of the Board, or such committee as the Board shall appoint. Members
     of the Committee may be Participants under the Plan. The Committee shall
     also have the discretion and authority to (i) make, amend, interpret, and
     enforce all appropriate rules and regulations for the administration of the
     Plan and (ii) decide or resolve any and all questions including
     interpretations of the Plan, as may arise in connection with the Plan. Any
     individual on the Committee who is a Participant shall not vote or act on
     any matter relating solely to himself. When making a determination or
     calculation, the Committee shall be entitled to rely on information
     furnished by a Participant, the Bank or the Holding Company.

8.2  AGENTS. In the administration of the Plan, the Committee may, from time to
     time, employ agents and delegate to them such administrative duties as it
     sees fit (including acting through a duly appointed representative) and may
     from time to time consult with counsel who may be counsel to the Bank or
     the Holding Company.

8.3  BINDING EFFECT OF DECISIONS. The decision or action of the Committee with
     respect to any question arising out of or in connection with the
     administration, interpretation and application of the Plan and the rules
     and regulations promulgated hereunder shall be final and conclusive and
     binding upon all persons having any interest in the Plan.

8.4  INDEMNITY OF COMMITTEE. The Bank shall indemnify and hold harmless the
     members of the Committee, and any person to whom the duties of the
     Committee may be delegated, against any and all claims, losses, damages,
     expenses or liabilities arising from any action or failure to act with
     respect to the Plan, except in the case of gross misconduct by the
     Committee or any of its members or any such delegate.

8.5  INFORMATION. To enable the Committee to perform its functions, the Bank and
     the Holding Company shall supply full and timely information to the
     Committee as the Committee may reasonably request.

                                        7

<PAGE>

                                    ARTICLE 9
                          OTHER BENEFITS AND AGREEMENTS

     The benefits provided under the Plan are in addition to any other benefits
available to such Participant under any other plan or program sponsored by the
Bank. The Plan shall supplement and shall not supersede, modify or amend any
other such plan or program except as may otherwise be expressly provided
therein.

                                   ARTICLE 10
                                CLAIMS PROCEDURES

10.1 PRESENTATION OF CLAIM. Any Participant or Beneficiary of a deceased
     Participant (such Participant or Beneficiary being referred to below as a
     "Claimant") may deliver to the Committee a written claim for a
     determination with respect to the amounts distributable to such Claimant
     from the Plan. If such a claim relates to the contents of a notice received
     by the Claimant, the claim must be made within 60 days after such notice
     was received by the Claimant. All other claims must be made within 180 days
     of the date on which the event that caused the claim to arise occurred. The
     claim must state with particularity the determination desired by the
     Claimant.

10.2 NOTIFICATION OF DECISION. The Committee shall consider a Claimant's claim
     within a reasonable time, and shall notify the Claimant in writing:

     (a)  that the Claimant's requested determination has been made, and that
          the claim has been allowed in full; or

     (b)  that the Committee has reached a conclusion contrary, in whole or in
          part, to the Claimant's requested determination, and such notice must
          set forth in a manner calculated to be understood by the Claimant:

          (i)  the specific reason(s) for the denial of the claim, or any part
               of it;

          (ii) specific reference(s) to pertinent provisions of the Plan upon
               which such denial was based;

          (iii) a description of any additional material or information
               necessary for the Claimant to perfect the claim, and an
               explanation of why such material or information is necessary; and

          (iv) an explanation of the claim review procedure set forth in Section
               10.3 below.

10.3 REVIEW OF A DENIED CLAIM. With 60 days after receiving a notice from the
     Committee that a claim has been denied, in whole or in part, a Claimant (or
     the Claimant's duly authorized representative) may file with the Committee
     a written request for a review of the denial of the claim. Thereafter, but
     not later than 30

                                        8

<PAGE>

     days after the review procedure began, the Claimant (or the Claimant's duly
     authorized representative):

     (a)  may review pertinent documents;

     (b)  may submit written comments or other documents; and/or

     (c)  may request a hearing, which the Committee, in its sole discretion,
          may grant.

10.4 DECISION ON REVIEW. The Committee shall render its decision on review
     promptly, and not later than 60 days after the filing of a written request
     for review of the denial, unless a hearing is held or other special
     circumstances require additional time, in which case the Committee's
     decision must be rendered within 120 days after such date. Such decision
     must be written in a manner calculated to be understood by the Claimant,
     and it must contain:

     (a)  specific reasons for the decision;

     (b)  specific reference(s) to the pertinent Plan provisions upon which the
          decision was based; and

     (c)  such other matters as the Committee deems relevant.

10.5 LEGAL ACTION. A Claimant's compliance with the foregoing provisions of this
     Article 10 is a mandatory prerequisite to a Claimant's right to commence
     any legal action with respect to any claim for benefits under the Plan.

                                   ARTICLE 11
                                     TRUST

11.1 ESTABLISHMENT OF THE TRUST. The Bank may establish the Trust upon such
     terms as it deems appropriate.

11.2 INTERRELATIONSHIP OF THE PLAN AND THE TRUST. The provisions of the Plan,
     including a Participant's Plan Agreement, shall govern the rights of such
     Participant to receive distributions pursuant to the Plan. The provisions
     of the Trust shall govern the rights of the Bank, the Holding Company,
     Participants and the creditors of the Bank and the Holding Company to any
     assets transferred to the Trust. The Bank and the Holding Company shall at
     all times remain liable to carry out its obligations under the Plan.

11.3 INVESTMENT OF TRUST ASSETS. The trustee of the Trust shall be authorized,
     upon written instructions received from the Committee or investment manager
     appointed by the Committee, to invest and reinvest the assets of the Trust
     in accordance with the applicable trust agreement.

                                        9

<PAGE>

11.4 DISTRIBUTIONS FROM THE TRUST. The Bank's and the Holding Company's
     obligations under the Plan may be satisfied with Trust assets distributed
     pursuant to the terms of the Trust and any such distribution shall reduce
     the Bank's and the Holding Company's obligations under the Plan.

                                   ARTICLE 12
                                  MISCELLANEOUS

12.1 STATUS OF PLAN. The Plan is intended to be a plan that is not qualified
     within the meaning of Code Section 401(a) and that "is unfunded and is
     maintained by an employer primarily for the purpose of providing deferred
     compensation for a select group of management or highly compensated
     employees" within the meaning of ERISA Sections 201(2), 301(a)(3) and
     401(a)(1). The Plan shall be administered and interpreted to the extent
     possible in a manner consistent with that intent.

12.2 UNSECURED GENERAL CREDITOR. Participants and their Beneficiaries, heirs,
     successors and assigns shall have no legal or equitable rights, interests
     or claims in any property or assets of the Bank or the Holding Company. For
     purposes of the payment of benefits under the Plan, any and all assets of
     the Bank or the Holding Company shall be, and remain the general, unpledged
     and unrestricted assets of such entity. The Bank's and the Holding
     Company's obligation under the Plan shall be merely of an unfunded and
     unsecured promise to pay money in the future.

12.3 LIABILITY. The Bank's and the Holding Company's liability for the payment
     of benefits shall be defined only by the Plan including a Participant's
     Plan Agreement. The Bank and the Holding Company shall have no obligation
     to a Participant under the Plan except as expressly provided in the Plan
     including such Participant's Plan Agreement.

12.4 NONASSIGNABILITY. Neither a Participant nor any other person shall have any
     right to commute, sell, assign, transfer, pledge, anticipate, mortgage or
     otherwise encumber, transfer, hypothecate, alienate or convey in advance of
     actual receipt, the amounts, if any, payable hereunder, or any part
     thereof, which are, and all rights to which are expressly declared to be,
     unassignable and non-transferable. No part of the amounts payable shall,
     prior to actual payment, be subject to seizure, attachment, garnishment or
     sequestration for the payment of any debts, judgments, alimony or separate
     maintenance allowed by a Participant or any other person, be transferable
     by operation of law in the event of a Participant's or any other person's
     bankruptcy or insolvency or be transferable to a spouse as a result of a
     property settlement or otherwise.

12.5 NOT A CONTRACT OF EMPLOYMENT. The terms and conditions of the Plan,
     including a Participant's Plan Agreement, shall not be deemed to constitute
     a contract of employment between the Bank or the Holding Company and a
     Participant. Nothing in the Plan shall be deemed to give a Participant the
     right to be retained in the service of the Bank or the Holding Company or
     to interfere with

                                       10

<PAGE>

     the right of the Bank or the Holding Company to discipline or discharge
     such Participant at any time.

12.6 FURNISHING INFORMATION. A Participant or his Beneficiary will cooperate
     with the Committee by furnishing any and all information requested by the
     Committee and take such other actions as may be requested in order to
     facilitate the administration of the Plan and the payments of benefits
     hereunder, including but not limited to, taking such physical examinations
     as the Committee may deem necessary.

12.7 TERMS. Whenever any words are used herein in the masculine, they shall be
     construed as though they were in the feminine in all cases where they would
     so apply; and whenever any words are used herein in the singular or in the
     plural, they shall be construed as though they were used in the plural or
     the singular, as the case may be, in all cases where they would so apply.

12.8 CAPTIONS. The captions of the articles, sections and paragraphs of the Plan
     are for convenience only and shall not control or affect the meaning or
     construction of any of its provisions.

12.9 GOVERNING LAW. Subject to ERISA, the provisions of the Plan shall be
     construed and interpreted according to the internal laws of the State of
     placeStateMichigan without regard to its conflicts of laws and principles.

12.10 NOTICE. Any notice or filing required or permitted to be given to the
     Committee under the Plan shall be sufficient if in writing and
     hand-delivered, or sent by registered or certified mail, to the address
     below.

          Director of Human Resources
          Community Central Bank
          100 North Main Street
          Mount Clemens, Michigan 48043

     Such notice shall be deemed given as of the date of delivery or, if
     delivery is made by mail, as of the date shown on the postmark on the
     receipt for registration or certification. Any notice or filing required or
     permitted to be given to a Participant under the Plan shall be sufficient
     if in writing and hand-delivered, or sent by mail, to the last known
     address of such Participant.

12.11 SUCCESSORS. The provisions of the Plan shall bind and inure to the benefit
     of the Bank, the Holding Company and their successors and assigns and the
     Participant and the Participant's designated Beneficiaries.

12.12 SPOUSE'S INTEREST. The interest in the benefits hereunder of a spouse of a
     Participant who has predeceased the Participant shall automatically pass to
     the Participant and shall not be transferable by such spouse in any manner
     including, but not limited to, such spouse's will, nor shall such interest
     pass under the laws of intestate succession.

                                       11

<PAGE>

12.13 VALIDITY. In case any provision of the Plan shall be illegal or invalid
     for any reason, said illegality or invalidity shall not affect the
     remaining parts hereof, but the Plan shall be constructed and enforced as
     if such illegal or invalid provision had never been inserted herein.

12.14 INCOMPETENT. If the Committee determines in its discretion that a benefit
     under the Plan is to be paid to a minor, a person declared incompetent or
     to a person incapable of handling the disposition of that person's
     property, the Committee may direct payment of such benefit to the guardian,
     legal representative or person having the care and custody of such minor,
     incompetent or incapable person. The Committee may require proof of
     minority, incompetence, incapacity or guardianship, as it may deem
     appropriate prior to distribution of the benefit. Any payment of a benefit
     shall be a payment for the account of the Participant and the Participant's
     Beneficiary, as the case may be, and shall be a complete discharge of any
     liability under the Plan for such payment amount

12.15 COURT ORDER. The Committee is authorized to make any payments directed by
     court order in any action in which the Plan or the Committee has been named
     as a party. In addition, if a court determines that a spouse or former
     spouse of a Participant has an interest in the Participant's benefits under
     the Plan in connection with a property settlement or otherwise, the
     Committee, in its sole discretion shall have the right, notwithstanding any
     election made by the Participant, to immediately distribute the spouse's or
     former spouse's interest in the Participant's benefits under the Plan to
     that spouse or former spouse.

12.16 INSURANCE. The Bank or the Holding Company, on its own behalf or on behalf
     of the trustee of the Trust, and, in its sole discretion, may apply for and
     procure insurance on the life of any Participant, in such amounts and in
     such forms as it may choose. The Bank, the Holding Company or the trustee
     of the Trust, as the case may be, shall be the sole owner and beneficiary
     of any such insurance. No Participant shall have any interest whatsoever in
     any such policy or policies, and a Participant shall at the request of the
     Bank or the Holding Company submit to medical examinations and supply such
     information and execute such documents as may be required by the insurance
     company or companies to whom the Bank or the Holding Company has applied
     for insurance.

12.17 LEGAL FEES TO ENFORCE RIGHTS AFTER CHANGE IN CONTROL. The Bank and the
     Holding Company is aware that upon the occurrence of a Change in Control,
     the Board (which might then be comprised of new members) or stockholders of
     the Bank or the Holding Company, or of any successor corporation, might
     then cause or attempt to cause Bank or the Holding Company, or such
     successor to refuse to comply with its obligations under the Plan and might
     cause or attempt to cause the Bank or the Holding Company to institute, or
     may institute, litigation seeking to deny Participants the benefits
     intended under the Plan. In these circumstances, the purpose of the Plan
     could be frustrated. Accordingly, if, following a Change in Control, it
     should appear to any Participant that the Bank, the Holding Company or any
     successor corporation has failed to comply with any

                                       12

<PAGE>

     of its obligations under the Plan or any agreement thereunder, or, if the
     Bank, the Holding Company or any other person takes any action to declare
     the Plan void or unenforceable or institutes any litigation or other legal
     action designed to deny, diminish or to recover from any Participant the
     benefits intended to be provided, then the Bank or the Holding Company
     irrevocably authorizes such Participant to retain counsel of his choice at
     the expense of the Bank or the Holding Company to represent such
     Participant in connection with the initiation or defense of any litigation
     or other legal action, whether by or against the Bank or the Holding
     Company or any director, officer, stockholder or other person affiliated
     with the Bank or the Holding Company or any successor thereto in any
     jurisdiction.

     The Bank and the Holding Company have signed the Plan as of December 31,
2006.

                                        COMMUNITY CENTRAL BANK

                                        By: S/ Dean S. Petitpren
                                            ------------------------------------
                                        Name: Dean S. Petitpren
                                        Title: Chairman of the Compensation
                                               Committee

                                        COMMUNITY CENTRAL BANK CORPORATION

                                        By: S/ Dean S. Petitpren
                                            ------------------------------------
                                        Name: Dean S. Petitpren
                                        Title: Chairman of the Compensation
                                               Committee

                                       13
<PAGE>

                          Form of Individual Agreement
<PAGE>

                       COMMUNITY CENTRAL BANK CORPORATION
            DEATH BENEFIT PLAN AGREEMENT AND BENEFICIARY DESIGNATION

                                    AGREEMENT

     Community Central Bank Corporation (the "Company") co-sponsors the
Community Central Bank Death Benefit Plan (the "Plan"). The Company and the
undersigned executive of the Company (the "Employee") hereby agree, for good and
valuable consideration, the value of which is hereby acknowledged, that the
Employee shall participate in the Plan as currently in effect or as may
hereafter be modified or amended. The Employee does hereby acknowledge that he
has been provided with a copy of the Plan as currently in effect and he does
specifically agree to the terms and conditions thereof. The Employee understands
that the receipt of benefits under the Plan shall be subject to all provisions
of the Plan.

                             BENEFICIARY DESIGNATION

     The Employee designates the following individuals as his "BENEFICIARY". The
Employee acknowledges that he is aware of his right to change such designation
by submitting to the Committee at a subsequent time a new written designation of
his primary and secondary Beneficiaries. The Employee understands that any
Beneficiary designation made subsequent to the execution of this Plan Agreement
must be executed and dated by him and shall become effective only when receipt
thereof is acknowledged in writing by the Committee or the Company. THE EMPLOYEE
ACKNOWLEDGES THAT HE MUST DESIGNATE HIS SPOUSE AS HIS SOLE PRIMARY BENEFICIARY,
UNLESS HIS SPOUSE EXECUTES THE ATTACHED SPOUSAL CONSENT.

PRIMARY BENEFICIARIES [NAME, ADDRESS, % INTEREST]:      ________________________
                                                        ________________________
                                                        ________________________

CONTINGENT BENEFICIARIES [NAME, ADDRESS, % INTEREST]:   ________________________
                                                        ________________________
                                                        ________________________

     [PROVIDE SCHEDULE OF ADDITIONAL PRIMARY OR CONTINGENT BENEFICIARIES, IF
                                   NECESSARY]

     The Employee understands that he may at any time, upon written request to
the Company or the Committee, obtain a copy of the Plan as then in effect.

-------------------------------------
Employee

COMMUNITY CENTRAL BANK CORPORATION

By:
    ---------------------------------
Name:
Title:

                                       1

<PAGE>

                                 SPOUSAL CONSENT

     I understand that my spouse has designated someone other than myself as
primary beneficiary of his entire benefit under the Plan. I hereby consent to
that designation and any subsequent Beneficiary designation he or she may make.

                                                             __________ __, 200_
-------------------------------------
                              ,Spouse

                                       2

<PAGE>

               COMMUNITY CENTRAL BANK DEATH BENEFIT PLAN AGREEMENT
                           AND BENEFICIARY DESIGNATION

                                    AGREEMENT

     Community Central Bank (the "Bank") sponsors the Community Central Bank
Death Benefit Plan (the "Plan"). The Bank and the undersigned executive of the
Bank (the "Employee") hereby agree, for good and valuable consideration, the
value of which is hereby acknowledged, that the Employee shall participate in
the Plan as currently in effect or as may hereafter be modified or amended. The
Employee does hereby acknowledge that he has been provided with a copy of the
Plan as currently in effect and he does specifically agree to the terms and
conditions thereof. The Employee understands that the receipt of benefits under
the Plan shall be subject to all provisions of the Plan.

                             BENEFICIARY DESIGNATION

     The Employee designates the following individuals as his "BENEFICIARY". The
Employee acknowledges that he is aware of his right to change such designation
by submitting to the Committee at a subsequent time a new written designation of
his primary and secondary Beneficiaries. The Employee understands that any
Beneficiary designation made subsequent to the execution of this Plan Agreement
must be executed and dated by him and shall become effective only when receipt
thereof is acknowledged in writing by the Committee or the Bank. THE EMPLOYEE
ACKNOWLEDGES THAT HE MUST DESIGNATE HIS SPOUSE AS HIS SOLE PRIMARY BENEFICIARY,
UNLESS HIS SPOUSE EXECUTES THE ATTACHED SPOUSAL CONSENT.

PRIMARY BENEFICIARIES [NAME, ADDRESS, % INTEREST]:      ________________________
                                                        ________________________
                                                        ________________________

CONTINGENT BENEFICIARIES [NAME, ADDRESS, % INTEREST]:   ________________________
                                                        ________________________
                                                        ________________________

     [PROVIDE SCHEDULE OF ADDITIONAL PRIMARY OR CONTINGENT BENEFICIARIES, IF
                                   NECESSARY]

     The Employee understands that he may at any time, upon written request to
the Bank or the Committee, obtain a copy of the Plan as then in effect.

-------------------------------------
                            ,Employee

COMMUNITY CENTRAL BANK

By
   ----------------------------------
Name:
      -------------------------------
Title:
       ------------------------------

                                       1

<PAGE>

                                 SPOUSAL CONSENT

     I understand that my spouse has designated someone other than myself as
primary beneficiary of his entire benefit under the Plan. I hereby consent to
that designation and any subsequent Beneficiary designation he or she may make.

                                                             __________ __, 200_
-------------------------------------
                              ,Spouse

                                       2exv10w1

 

Exhibit 10.1

NORTH POINTE HOLDINGS CORPORATION

EQUITY INCENTIVE PLAN

     Section I. Purpose

          The purpose of this North Pointe Holdings Corporation Equity Incentive Plan (“Plan”) is to
promote the best interests of North Pointe Holdings Corporation (“Company”) and its shareholders by
providing key employees of the Company and its Affiliates (as defined below) and members of the
Company’s Board of Directors who are not employees of the Company or its Affiliates with an
opportunity to acquire a proprietary interest in the Company. It is intended that the Plan will
promote continuity of management and increased incentive and personal interest in the welfare of
the Company by those key employees who are primarily responsible for shaping and carrying out the
long-range plans of the Company and securing its continued growth and financial success, all of
which benefits the shareholders. In addition, by encouraging stock ownership by directors who are
not employees of the Company or its Affiliates, the Company seeks to attract and retain on its
Board of Directors persons of exceptional competence and to provide a further incentive to serve as
a director of the Company.

     Section 2. Definitions

          As used in the Plan, the following terms shall have the respective meanings set forth below:

          (a) “Affiliate” shall mean any entity that, directly or through one or more intermediaries, is
Controlled by, Controls, or is under common Control with, the Company.

          (b) “Available Shares” shall mean that number of Shares with respect to which Awards may be
granted under the Plan.

          (c) “Award” shall mean any Option, Stock Appreciation Right, Restricted Stock or Performance
Share granted under the Plan.

          (d) “Award Agreement” shall mean any written agreement, contract, or other instrument or
document evidencing any Award granted under the Plan.

          (e) “Board” shall mean the board of directors of the Company.

          (f) “Change of Control” shall mean any of the following events:

                    (i) The acquisition, other than from the Company, by any individual, entity or group
(within the meaning of Section 13(d)(3) or 14(d)(2) of the Exchange Act) of beneficial
ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of 40% or
more of either:

	 	(A)	 	The then outstanding shares of common stock of
the Company (the “Outstanding Company Common Stock”) or

1

 

	 	(B)	 	The combined voting power of the then outstanding voting securities
of the Company entitled to vote generally in the election of directors
(the “Company Voting Securities”);

          provided, however, that any acquisition by an Excluded Person shall not constitute a Change in
Control of the Company. For purposes hereof, an Excluded Person shall mean any of the following:
(x) James G. Petcoff, Matthew Petcoff or members of either of their immediate families; (y) the
Company or any of its subsidiaries, or any employee benefit plan (or related trust) sponsored or
maintained by the Company or any of its subsidiaries or; (z) any corporation with respect to which,
following such acquisition, more than 60% of, respectively, the then outstanding shares of common
stock of such corporation and the combined voting power of the then outstanding voting securities
of such corporation entitled to vote generally in the election of directors is then beneficially
owned, directly or indirectly, by all or substantially all of the individuals and entities who were
the beneficial owners, respectively, of the Outstanding Company Common Stock and Company Voting
Securities immediately prior to such acquisition in substantially the same proportion as their
ownership, immediately prior to such acquisition, of the Outstanding Company Common Stock and
Company Voting Securities, as the case may be; or

          (ii) Individuals who, as of the day immediately following the closing of the initial public
offering of shares of the Company’s common stock (the “Post-Offering Date”), constitute the Board
(the “Incumbent Board”) cease for any reason to constitute at least a majority of the Board,
provided that any individual becoming a director subsequent to the Post-Offering Date, whose
election or nomination for election by the Company’s shareholders was approved by a vote of at
least a majority of the directors then comprising the Incumbent Board, shall be considered as
though such individual were a member of the Incumbent Board, but excluding, for this purpose, any
such individual whose initial assumption of office is in connection with an actual or threatened
election contest relating to the election of the Directors of the Company (as such terms are used
in Rule 14a-11 of Regulation 14A promulgated under the Exchange Act); or

          (iii) Consummation of a reorganization, merger or consolidation (a “Business Combination”),
in each case, with respect to which all or substantially all of the individuals and entities who
were the respective beneficial owners of the Outstanding Company Common Stock and Company Voting
Securities immediately prior to such Business Combination do not, following such Business
Combination, beneficially own, directly or indirectly, more than 60% of, respectively, the then
outstanding shares of common stock and the combined voting power of the then outstanding voting
securities entitled to vote generally in the election of directors, as the case may be, of the
corporation resulting from such Business Combination in substantially the same proportion as their
ownership immediately prior to such Business Combination of the Outstanding Company Common Stock
and Company Voting Securities, as the case may be; or

          (iv) A complete liquidation or dissolution of the Company or sale or other disposition of all
or substantially all of the assets of the Company other than to a corporation with respect to
which, following such sale or disposition, more than 60% of, respectively, the then outstanding
shares of common stock and the combined voting power

2

 

of the then outstanding voting securities entitled to vote generally in the election of
directors is then owned beneficially, directly or indirectly, by all or substantially all
of the individuals and entities who were the beneficial owners, respectively, of the
Outstanding Company Common Stock and Company Voting Securities immediately prior to such
sale or disposition in substantially the same proportion as their ownership of the
Outstanding Company Common Stock and Company Voting Securities, as the case may be,
immediately prior to such sale or disposition.

     Notwithstanding the foregoing, the Committee may modify the definition of a Change of Control
in an Award Agreement to the extent necessary for such Award to comply with the provisions of Code
Section 409A.

          (g) “Code” shall mean the Internal Revenue Code of 1986, as amended from time to time.

          (h) “Committee” shall mean a committee of the Board that the Board designates to administer
the Plan and composed of not less than two directors, each of whom is a “non-employee director for
purposes of Section 16” within the meaning of Rule 16b-3 and each of whom is an “outside director”
within the meaning of Code Section 162(m)(4)(C).

          (i) “Control” shall mean: (A) for a corporation, ownership of more than 50% of the combined
voting power of all classes of stock entitled to vote; and (B) for a partnership or limited
liability company, ownership of more than 50% of the profits or capital interest of such a
business entity.

          (j) “Exchange Act” shall mean the Securities Exchange Act of 1934, as amended from time to
time.

          (k) “Excluded Items” shall mean any items that the Committee determines shall be excluded in
fixing Performance Goals, such as any gains or losses from discontinued operations, any
extraordinary gains or losses and the effects of accounting changes.

          (1) “Fair Market Value” shall mean, per Share on a particular date: (i) if the Shares are
listed for trading on the New York Stock Exchange, the last reported sales price on the date in
question as reported in The Wall Street Journal, or if no sales of Shares occur on the date in
question, on the last preceding date on which there was a sale on that exchange; (ii) if the
Shares are not listed or admitted to trading on the New York Stock Exchange, the last reported
sales price on the date in question on the principal national securities exchange on which the
Shares are listed or admitted to trading, or if no sales of Shares occur on the date in question,
on the last preceding date on which there was a sale on that exchange; (iii) if the Shares are not
listed or admitted to trading on any national securities exchange, the last reported sales price
on the date in question in the over-the-counter market, as reported by the National Association of
Securities Dealers, Inc. Automated Quotations System (“NASDAQ”) or such other system then in use,
or if no sales of Shares occur on the date in question, on the last preceding date on which there
was a sale; (iv) if on any such date the Shares are not quoted by any such organization, the last
sales price on the date in question as furnished by a professional market maker making a market in
the Shares selected by the Board for the date in question, or if no sales of Shares occur on the
date in question, on the last

3

 

preceding date on which there was a sale; or (v) if on any such date no market maker is making a
market in the Shares, the price as determined in good faith by the Committee.

          (m) “Incentive Stock Option” shall mean an option granted under Section 6(a) that is intended
to meet the requirements of Code Section 422.

          (n) “Key Employee” shall mean any officer or other key employee of the Company or of any
Affiliate who is responsible for or contributes to the management, growth or profitability of the
business of the Company or any Affiliate as determined by the Committee, except that only Key
Employees of the Company or a subsidiary within the meaning of Code Section 424(f) may be granted
Incentive Stock Options.

          (o) “Non-Employee Director” shall mean any member of the Company’s Board who is not an
employee of the Company or of any Affiliate.

          (p) “Non-Qualified Stock Option” shall mean an option granted under Section 6(a) that is not
intended to be an Incentive Stock Option.

          (q) “Option” shall mean an Incentive Stock Option or a Non-Qualified Stock Option.

          (r) “Participating Key Employee” shall mean a Key Employee to whom an Award is granted under
the Plan.

          (s) “Performance Goals” shall mean one or any combination of the following (in all cases after
excluding the impact of applicable Excluded Items):

               (i) Return on equity for the Performance Period for the Company on a

               (ii) Return on investment for the Performance Period (aa) for the Company on a
consolidated basis, (bb) for any one or more Affiliates or divisions of the Company and/or (cc) for
any other business unit or units of the Company as defined by the Committee at the time of
selection.

               (iii) Return on net assets for the Performance Period (aa) for the Company on a consolidated
basis, (bb) for any one or more Affiliates or divisions of the Company and/or (cc) for any other
business unit or units of the Company as defined by the Committee at the time of selection.

               (iv) Economic value added (as defined by the Committee at the time of selection) for the
Performance Period (aa) for the Company on a consolidated basis, (bb) for any one or more
Affiliates or divisions of the Company and/or (cc) for any other business unit or units of the
Company as defined by the Committee at the time of selection.

               (v) Earnings from operations for the Performance Period (aa) for the Company on a consolidated
basis, (bb) for any one or more Affiliates or divisions of the

4

 

                    Company and/or (cc) for any other business unit or units of the Company as defined by
the Committee at the time of selection.

                    (vi) Pre-tax profits for the Performance Period (aa) for the Company on a consolidated
basis, (bb) for any one or more Affiliates or divisions of the Company and/or (cc) for any
other business unit or units of the Company as defined by the Committee at the time of
selection.

                    (vii) Net earnings for the Performance Period (aa) for the Company on a consolidated
basis, (bb) for any one or more Affiliates or divisions of the Company and/or (cc) for any
other business unit or units of the Company as defined by the Committee at the time of
selection.

                    (viii) Net earnings per Share for the Performance Period for the Company on a
consolidated basis.

                    (ix) Working capital as a percent of net sales for the Performance Period (aa) for the
Company on a consolidated basis, (bb) for any one or more Affiliates or divisions of the
Company and/or (cc) for any other business unit or units of the Company as defined by the
Committee at the time of selection.

                    (x) Net cash provided by operating activities for the Performance Period (aa) for the
Company on a consolidated basis, (bb) for any one or more Affiliates or divisions of the
Company and/or (cc) for any other business unit or units of the Company as defined by the
Committee at the time of selection.

                    (xi) Market price per Share for the Performance Period.

                    (xii) Total shareholder return for the Performance Period for the Company on a
consolidated basis.

          (t) “Performance Period” shall mean any period for which a Performance Goal or Goals have been
established.

          (u) “Performance Share” shall mean any right granted under Section 6(e) that will be paid out
as a Share (which, in specified circumstances, may be a Share of Restricted Stock).

          (v) “Person” shall mean any individual, corporation, partnership, association, joint-stock
company, trust, unincorporated organization, or government or related political subdivision.

          (w) “Released Securities” shall meanShares of Restricted Stock with respect to which all
applicable restrictions have expired, lapsed, or been waived.

          (x) “Restricted Securities” shall mean Awards of Restricted Stock or other Awards under which
issued and outstanding Shares are held subject to certain restrictions.

5

 

          (y) “Restricted Stock” shall mean any Share granted under Section 6(c) or 6(d) or, in specified
circumstances, a Share paid in connection with a Performance Share under Section 6(e).

          (z) “Rule 16b-3” shall mean Rule 16b-3 as promulgated by the SEC under the Exchange Act.

          (aa) “SEC” shall mean the United States Securities and Exchange Commission or any successor
agency.

          (bb) “Shares” shall mean shares of common stock of the Company and such other securities or
property as may become subject to Awards pursuant to an adjustment made under Section 4(e).

          (cc) “Stock Appreciation Right” shall mean any right granted under Section

     Section 3.  Administration

          (a) Administration by the Committee. The Committee shall administer the Plan. If at any time
the Committee shall not be in existence, the Committee’s functions as specified in the Plan shall
be exercised by a committee consisting of those members of the Board of Directors of the Company
who qualify as “non-employee directors for purposes of Section 16” under Rule 16b-3 and as
“outside directors” under Code Section 162(m)(4)(C).

          (b) Delegation of Authority. To the extent permitted by applicable law, the Committee may
delegate to one or more of the Company’s executive officers any of its authority and
responsibility with respect to the Plan, other than with respect to Persons who are subject to
Section 16 of the Exchange Act. To the extent that the Committee has done so, all references to
the Committee in this Plan shall include this officer(s).

          (c) Authority. Subject to the Plan’s terms, the Committee’s authority includes the following:

                    (i) designate Participating Key Employees;

                    (ii) determine the type(s) of Awards to be granted to each Participating Key Employee;

                    (iii) determine the number of Shares to be covered by (or with respect to which
payments, rights, or other matters are to be calculated in connection with) Awards granted
to Participating Key Employees;

                    (iv) determine the terms of any Award granted to a Participating Key Employee;

                    (v) determine whether, to what extent, and under what circumstances Awards granted to
Participating Key Employees may be settled or exercised in cash,

6

 

Shares, other securities, other Awards, or other property, and the method or methods
by which Awards may be settled, exercised, cancelled, forfeited, or suspended;

          (vi) determine whether, to what extent, and under what circumstances cash, Shares,
other Awards, and other amounts payable with respect to an Award granted to Participating
Key Employees under the Plan shall be deferred either automatically or at the election of
the holder thereof or of the Committee;

          (vii) interpret and administer the Plan and any instrument or agreement relating to,
or Award made under, the Plan (including any Award Agreement);

          (viii) establish, amend, suspend, or waive rules and regulations and appoint such
agents as it shall deem appropriate for proper Plan administration; and

          (ix) make any other determination and take any other action that the Committee deems
necessary or desirable for Plan administration.

Unless otherwise expressly provided in the Plan, all designations, determinations,
interpretations, and other decisions made under or with respect to the Plan or any Award shall be
within the sole discretion of the Committee, may be made at any time, and shall be final,
conclusive, and binding upon all Persons, including the Company, any Affiliate, any Participating
Key Employee, any Non-Employee Director, any holder or beneficiary of any Award, any shareholder,
and any employee of the Company or of any Affiliate.

          Notwithstanding the foregoing, Awards to Non-Employee Directors under the Plan shall be
automatic. The amount and terms of such Awards shall be determined as provided in Section 6(d).

     Section 4. Available Shares

          (a) Number of Shares Available. The number of Shares with respect to which Awards may be
granted under the Plan shall be an amount equal to 10% of the then-current Company Shares issued
and outstanding. Notwithstanding the foregoing, the Company may grant Incentive Stock Options for
no more than 500,000 Shares. If, after the effective date of the Plan, any Shares covered by an
Award granted under the Plan, or to which any Award relates, are forfeited or if an Award
otherwise terminates, expires or is cancelled prior to the delivery of all of the Shares or of
other consideration issuable or payable pursuant to such Award, then the number of Shares counted
against the number of Shares in question will once more be available for granting of additional
Awards.

          (b) Limitations on Awards to Individual Participants. During any one calendar year, no
Participating Key Employee shall be granted Options for more than 200,000 Shares, Stock
Appreciation Rights with respect to more than 200,000 Shares, more than 200,000 Shares of
Restricted Stock and/or an Award for more than 200,000 Performance Shares under the Plan. The
Committee may adjust these limitations as provided below. In all cases, determinations under this
Subsection shall be made in a manner that is consistent with the exemption for performance-based
compensation provided by Code Section 162(m).

7

 

          (c) Accounting for Awards. The number of Shares covered by an Award, or to which such Award
relates, shall be counted on the date of grant of such Award against the number of Shares
available for granting Awards.

          (d) Sources of Shares Deliverable Under Awards. Shares delivered pursuant to an Award shall
consist of authorized and unissued Shares.

          (e) Adjustments. This Section’s terms are subject to this Subsection’s terms as to
adjustments. In the event of any dividend or other distribution ( payable in
Shares, other securities, or other property), recapitalization, stock split, spin-off,
combination, repurchase, or exchange of Shares or other securities of the Company, issuance of
warrants or other rights to purchase Shares or other securities of the Company, or other similar
corporate transaction or event (“Adjustment Event”) , the Committee shall, in order to
prevent dilution or enlargement of the benefits or potential benefits intended to be made
available under the Plan or any Award, in the manner it deems equitable, adjust any or
all of: :

	 	(i)	 	the number and type of Available Shares,
	 
	 	(ii)	 	the Share limits specified in Sections 4(a), 4(b), 6(c), 6(d) and 6(e),
	 
	 	(iii)	 	the number and type of Shares subject to outstanding Awards, and
	 
	 	(iv)	 	the grant, purchase, or exercise price with respect to any Award.

If the Committee deems it appropriate, it may make provision for a cash payment to the holder of
an outstanding Award in lieu of any such adjustment. With respect to Awards of Incentive Stock
Options no such adjustment is authorized to the extent that that authority would cause the Plan to
violate Code Section 422(b). The number of Shares subject to any Award payable or denominated in
Shares shall always be a whole number. Notwithstanding the foregoing, Restricted Stock subject to
grant or previously granted but not yet vested to Non-Employee Directors under Section 6(d) at the
time of any Adjustment Event shall be subject to only those adjustments necessary to maintain the
relative proportionate interest represented thereby immediately prior to the Adjustment Event and
to preserve, without exceeding, the value of the Restricted Stock.

     Section 5. Eligibility

          Any Key Employee, including any executive officer or employee-director of the Company or of
any Affiliate, shall be eligible to be designated a Participating Key Employee. All Non-Employee
Directors shall receive Awards of Restricted Stock as provided in Section 6(d).

     Section 6. Awards

          (a) Option Awards to Key Employees. The Committee is authorized to grant Options to Key
Employees with the terms set forth below and with any additional terms not inconsistent with this
Plan’s provisions as the Committee shall determine. Non-Employee Directors are not eligible to be
granted Options pursuant to this Section 6(a).

8

 

          (i) Exercise Price. The exercise price per Share of an Option shall be determined by
the Committee; provided, however, that (A) the exercise price shall not be less than 100% of
the Fair Market Value of a Share on the date of grant of the Option and (B) the exercise
price may vary during the term of the Option if the Committee determines that there should
be adjustments to the exercise price relating to achievement of Performance Goals and/or to
changes in an index or indices that the Committee determines is appropriate (but in no event
may the exercise price per Share be less than the Fair Market Value of a Share as determined
on the date of grant).

          (ii) Option Term. The Committee will fix the term of each Option. No Option term shall
exceed a period of ten years from the date of its grant.

          (iii) Exercisability and Method of Exercise. The Committee will determine each
Option’s manner and time of exercise. The Committee also shall determine the method(s) by
which, and the form(s) in which, payment of the exercise price with respect to any Option
may be made or deemed to have been made, including cash, Shares, other securities, other
Awards, or other property, or any combination, having a Fair Market Value on the exercise
date equal to the relevant exercise price.

          (iv) Incentive Stock Options. The terms of any Incentive Stock Option granted under
the Plan shall comply in all respects with the provisions of Code Section 422.

          (b) Stock Appreciation Rights. The Committee is authorized to grant Stock Appreciation Rights
to Key Employees. Non-Employee Directors are not eligible to be granted Stock Appreciation Rights
under the Plan. Subject to the Plan’s terms and any applicable Award Agreement, a Stock
Appreciation Right granted under the Plan shall confer on its holder a right to receive upon its
exercise the excess of (i) the Fair Market Value of one Share on the date of exercise over (ii)
the grant price of the Stock Appreciation Right as specified by the Committee, which shall not be
less than 100% of the Fair Market Value of one Share on the date of grant of the Stock
Appreciation Right. Subject to the Plan’s terms the grant price, term, methods of exercise,
methods of settlement (including whether the Participating Key Employee will be paid in cash,
Shares, other securities, other Awards, or other property, or any combination), and any other
terms of any Stock Appreciation Right shall be as determined by the Committee. In no event shall
the term of any Stock Appreciation Right exceed ten (10) years from the date of grant. The
Committee may impose those conditions or restrictions on the exercise of any Stock Appreciation
Right as it may deem appropriate.

          (c) Restricted Stock Awards.

          (i) Issuance. The Committee is authorized to grant Awards of Restricted Stock to Key
Employees. The aggregate number of Shares of Restricted Stock granted under the Plan to all
Participating Key Employees as a group shall not exceed 500,000. Non-Employee Directors are
not eligible to be granted Restricted Stock under this Section.

9

 

          (ii) Restrictions. Shares of Restricted Stock granted to Participating Key Employees shall be
subject to those restrictions as the Committee may impose (including any limitation on the right to
vote a Share of Restricted Stock or the right to receive any dividend or other right or property),
which restrictions may lapse separately or in combination at such time(s) (including upon the
achievement of Performance Goals), in such installments or otherwise, as the Committee may deem
appropriate. In addition, the Committee shall determine whether dividends paid with respect to an
Award of Restricted Stock will be immediately paid or held in escrow or otherwise deferred and
whether those dividends shall be subject to the same terms as the Award to which they relate.

          (iii) Registration. Any Restricted Stock granted under the Plan to a Participating Key
Employee may be evidenced in any manner that the Committee may deem appropriate, including
book-entry registration or issuance of a stock certificate or certificates. The Restricted Stock
may be held in escrow pending lapse of all restrictions. If any stock certificate is issued in
respect of Shares of Restricted Stock granted under the Plan to a Participating Key Employee, the
certificate shall be registered in the name of the Participating Key Employee and shall bear an
appropriate legend (as determined by the Committee) referring to the terms, conditions, and
restrictions applicable to such Restricted Stock.

          (iv) Payment of Restricted Stock. At the end of the applicable restriction period relating to
Restricted Stock granted to a Participating Key Employee, one or more stock certificates for the
appropriate number of Shares, free of restrictions imposed under the Plan, shall be delivered to
the Participating Key Employee, or, if the Participating Key Employee received stock certificates
representing the Restricted Stock at the time of grant, the legends placed on such certificates
shall be removed.

          (v) Forfeiture. Except as otherwise determined by the Committee, upon termination of a
Participating Key Employee’s employment for any reason during the applicable restriction period,
all Shares of Restricted Stock still subject to restriction shall be forfeited by the Participating
Key Employee. The Committee may, when it finds that a waiver would be in the best interests of the
Company, waive in whole or in part any or all remaining restrictions with respect to Shares of
Restricted Stock held by a Participating Key Employee.

     (d) Restricted Stock Awards to Non-Employee Directors.

          (i) Eligibility. Each Non-Employee Director shall automatically be granted Restricted Stock
under the Plan in the manner set forth in this Section.

          (ii) Annual Restricted Stock Awards to Non-Employee Directors. Each Non-Employee Director (if
he or she continues to serve in such capacity) shall, on the day following the annual meeting of
shareholders in each year during the time the Plan is in effect, automatically be granted a number
of Shares of Restricted Stock equal to the lesser of (A) 1,000 Shares, or (B) the number of Shares
determined by dividing $15,000 by the Fair Market Value of a Share on the date of grant (rounded
to the nearest whole number). A Person who is first elected as a Non-Employee Director on the date
of an annual meeting

10

 

of shareholders shall not be eligible to begin to receive grants pursuant to this Section
until the day following the next succeeding annual meeting of shareholders.

          (iii) Vesting. The Shares of Restricted Stock granted under this Subsection shall vest on the
date that is 24 months following the date of grant, provided the Non-Employee Director is in
service with the Company or an Affiliate on such date. Except as provided in the following
sentence, if the Director terminates service prior to the vesting date, the Shares of Restricted
Stock shall be forfeited. Notwithstanding the foregoing, the Shares of Restricted Stock shall vest
on the date the Director’s service ends as a result of death or Disability, or upon the occurrence
of a Change of Control if the Director is in service with the Company or an Affiliate on the date
of the Change of Control. For purposes hereof, a Non-Employee Director’s service shall be
considered to cease due to Disability if the Non-Employee Director is unable to perform his or her
services as a director as a result of a medically-determinable physical or mental impairment which
can be expected to result in death or which has lasted or can be expected to last for a period of
at least 12 months, as determined by the Committee.

          (iv) Grant Limitation. Notwithstanding the provisions of this Section, Restricted Stock shall
be automatically awarded to Non-Employee Directors under the Plan only for so long as the Plan
remains in effect and there are a sufficient number of Available Shares for these awards.

     (e) Performance Shares.

          (i) Issuance. The Committee is authorized to grant Awards of Performance Shares to
Participating Key Employees. The aggregate number of Performance Shares granted under the Plan to
all Participating Key Employees as a group shall not exceed 500,000. Non-Employee Directors are not
eligible to be granted Performance Shares under the Plan.

          (ii) Performance Goals and Other Terms. The Committee shall determine the Performance Period
(which must be at least one year), the Performance Goal or Goals (and the related performance
level(s)) to be achieved during any Performance Period, any proportion of payments to be made for
performance between the minimum and full performance levels for any Performance Goal and, if
applicable, the relative percentage weighting given to each of the selected Performance Goals, the
restrictions applicable to Shares of Restricted Stock received upon payment of Performance Shares
if Performance Shares are paid in such manner, and any other terms and rights relating to a grant
of Performance Shares. The Committee shall have sole discretion to alter the selected Performance
Goals as that term is defined above, subject to shareholder approval, to the extent required to
qualify the Award for the performance-based exemption provided by Code Section 162(m).
Notwithstanding the foregoing, if the Committee determines it is advisable to grant Performance
Shares which do not qualify for the performance-based exemption under Code Section 162(m), the
Committee may make those grants without satisfying that section’s requirements.

11

 

          (iii) Rights and Benefits During the Performance Period. The Committee may provide that,
during a Performance Period, a Participating Key Employee shall be paid cash, with respect to each
Performance Share held by such Participating Key Employee, in the same manner, at the same time,
and in the same amount paid, as a cash dividend on a Share.

          (iv) Payment of Performance Shares. As soon as is reasonably practicable following the end of
the applicable Performance Period, and subject to the Committee certifying in writing as to the
satisfaction of the requisite Performance Goal(s) if such a certification is required in order to
qualify the Award for the performance-based exemption provided by Code Section 162(m), one or more
certificates representing the number of Shares equal to the number of Performance Shares payable
shall be registered in the name of and delivered to the Participating Key Employee. Any Shares of
Restricted Stock that are payable in connection with Performance Shares shall, pending the
expiration, lapse, or waiver of the applicable restrictions, be evidenced in the manner as set
forth in the subsection discussing Restricted Stock.

     (f) General.

          (i) No Consideration for Awards. Awards shall be granted to Participating Key Employees for
no cash consideration unless otherwise determined by the Committee. Awards of Restricted Stock
granted to Non-Employee Directors under this Section shall be granted for no cash consideration
unless otherwise required by law.

          (ii) Award Agreements. An Award Agreement in the form (consistent with the terms of the Plan)
that the Committee approves shall evidence each Award.

          (iii) Awards May Be Granted Separately or Together. Awards to Participating Key Employees
under the Plan may be granted either alone or in addition to, in tandem with, or in substitution
for any other Award or any award granted under any other plan of the Company or any Affiliate.
Awards granted in addition to or in tandem with other Awards, or in addition to or in tandem with
awards granted under any other plan of the Company or any Affiliate, may be granted either at the
same time as or at a different time from the grant of such other Awards or awards.

          (iv) Forms of Payment Under Awards. Subject to the terms of the Plan and of any applicable
Award Agreement, payments or transfers to be made by the Company or an Affiliate upon the grant,
exercise, or payment of an Award to a Participating Key Employee may be made in the form(s) that
the Committee shall determine, and may be made in a single payment or transfer, in installments,
or on a deferred basis, in each case in accordance with rules and procedures established by the
Committee. These rules and procedures may include provisions for the payment or crediting of
interest on installment or deferred payments.

          (v) Limits on Transfer of Awards. No Award (other than Released Securities), and no right
under any such Award, shall be assignable, alienable, saleable, or transferable by a Participating
Key Employee or a Non-Employee Director otherwise than

12

 

by will or by the laws of descent and distribution (or, in the case of an Award of
Restricted Securities, to the Company). Subject to applicable law, a Participating Key
Employee at the discretion of the Committee may, and a Non-Employee Director shall, be
entitled, in the manner established by the Committee, to designate a beneficiary or
beneficiaries to exercise his or her rights, and to receive any property distributable, with
respect to any Award upon the death of the Participating Key Employee or the Non-Employee
Director, as the case may be. Each Award, and each right under any Award, shall be
exercisable, during the lifetime of the Participating Key Employee or the Non-Employee
Director, only by the Award recipient or, if permissible under applicable law, by his or her
guardian or legal representative. No Award (other than Released Securities), and no right
under any such Award, may be pledged, alienated, attached, or otherwise encumbered, and any
purported pledge, alienation, attachment, or encumbrance of an Award shall be void and
unenforceable against the Company or any Affiliate.

          (vi) Term of Awards. Except as otherwise provided in the Plan, the term of each Award
shall be for that period as may be determined by the Committee.

          (vii) Share Certificates; Representation. In addition to the restrictions imposed
pursuant to Section 6(c), Section 6(d) and Section 6(e), all certificates for Shares
delivered under the Plan pursuant to any Award or its exercise shall be subject to those
stop transfer orders and other restrictions as the Committee may deem advisable under the
Plan or those rules, regulations, and other requirements of the SEC, any stock exchange or
other market upon which the Shares are then listed or traded, and any applicable federal or
state securities laws. The Committee may cause a legend or legends to be put on any such
certificates to make appropriate reference to these restrictions. The Committee may require
each Participating Key Employee, Non-Employee Director or other Person who acquires Shares
under the Plan by means of an Award originally made to a Participating Key Employee or a
Non-Employee Director to represent to the Company in writing that he or she is acquiring the
Shares without a view to their distribution.

          (viii) Repricing Prohibited. Notwithstanding anything in this Plan to the contrary, and
except for the adjustments provided in Section 4, neither the Committee nor any other person
may decrease the exercise price for any outstanding Option after the date of grant nor
cancel or allow a Participating Key Employee to surrender an outstanding Option to the
Company as consideration for the grant of a new Option with a lower exercise price or the
grant of another type of Award the effect of which is to reduce the exercise price of any
outstanding Option.

     Section 7. Amendment and Termination of the Plan; Correction of Defects and
Omissions

          (a) Amendments to and Termination of the Plan. The Board of Directors of the Company may at
any time amend, alter, suspend, discontinue, or terminate the Plan. The provisions of Section 6
above concerning automatic Awards to Non-Employee Directors shall not be amended more than once
every six months, other than to comport with changes in the Code and the Employee Retirement Income
Security Act of 1974, as amended. The shareholders must approve any amendment of the Plan in order
for it to be effective if: (i) the amendment (A)

13

 

increases the number of Shares with respect to which Awards may be granted under the Plan (other
than increases related to adjustments made as provided in Section 4), (B) expands the class of
persons eligible to participate under the Plan, (C) otherwise increases in any material respect
the benefits payable under the Plan, or (D) changes the provisions prohibiting repricing in
Section 6; or (ii) if approval is otherwise required by: (A) the Code, (B) the listing
requirements of the Nasdaq Stock Market or any principal securities exchange or market on which
the Shares are then traded (in order to maintain the listing of the Shares on that exchange), or
(C) any other applicable law or regulation. Termination of the Plan shall not affect the rights of
Participating Key Employees or Non-Employee Directors with respect to Awards previously granted to
them, and all unexpired Awards shall continue in force and effect after termination of the Plan
except as they may lapse or be terminated by their own terms.

          (b) Correction of Defects, Omissions and Inconsistencies. The Committee may correct any
defect, supply any omission, or reconcile any inconsistency in any Award or Award Agreement in the
manner and to the extent it shall deem desirable to carry the Plan into effect.

     Section S. Change of Control

          Unless the Committee provides otherwise in an Award Agreement, the following provisions shall
govern Awards upon the occurrence of a Change of Control.

          (a) Assumption or Replacement. In connection with a Change of Control, an Award may be
assumed, or a substitute Award that preserves the economic value of the Award and that contains
similar terms and conditions as the Award prior to the Change of Control may be issued, in each
case without the consent of the Participant. However, in either case, if the Participant’s
employment is terminated without cause, as defined by the Committee as of the date of the Change
of Control or as defined in the Participant’s Award Agreement, within one year after the date of
the Change of Control, then the Award shall fully vest as of the date of such termination of
employment without cause.

          (b) Termination of Awards. If, in connection with a Change of Control, an Award is not to be
assumed or a substitute award is not to be granted in accordance with subsection (a), then:

          (i) Subject to paragraph (ii), at least fifteen (15) days prior to the date of the
Change of Control, each Option or SAR that is outstanding at such time and that is held by
a Participant who is employed by the Company or an Affiliate shall become immediately and
fully exercisable; the Committee shall notify each Participant holding an Option or SAR of
their right to exercise such Award up to the date immediately preceding the Change of
Control; and upon the date of the Change of Control, the Option or SAR shall automatically
terminate without consent of the Participant;

          (ii) If it is not feasible for advance notice of a Change of Control to be given under
paragraph (i), as determined by the Committee in its sole discretion, or if the advance
notice is not provided at least fifteen (15) days prior to the date of the Change of
Control, then:

14

 

	 	(A)	 	each Option or SAR that is outstanding immediately prior to
the date of the Change of Control and that is held by a Participant
who is then employed by the Company or an Affiliate shall become
immediately and fully vested on the date of the Change of Control;
	 
	 	(B)	 	and each Option or SAR that is outstanding as
of the date of the Change of Control (including each Option or SAR
that becomes fully vested under paragraph (A)) shall be terminated as
of such date without the consent of the Participant in exchange for a
cash payment by the Company to the Participant in an amount equal to
the value of the vested portion of the Option or SAR that has not been
exercised as of the date of the Change of Control (such value to be
determined based on the Black-Scholes methodology or such similar
method of valuing options and stock appreciation rights as shall be
selected by the Committee);

              (iii) Each grant of Restricted Stock shall become vested immediately prior to the date
of the Change of Control; and

              (iv) Each grant of Performance Shares shall be subject to the terms of the Award
Agreement relating to the effect of a Change of Control upon such Award.

     Section 9. General Provisions

          (a) No Rights to Awards. No Key Employee, Participating Key Employee or other Person (other
than a Non-Employee Director to the extent provided in Section 6 above) shall have any claim to be
granted any Award under the Plan, and there is no obligation for uniformity of treatment of Key
Employees, Participating Key Employees, or holders or beneficiaries of Awards under the Plan. The
terms of Awards need not be the same with respect to each Participating Key Employee.

          (b) Withholding. No later than the date as of which an amount first becomes includable in the
gross income of a Participating Key Employee for federal income tax purposes with respect to any
Award under the Plan, the Participating Key Employee shall pay to the Company, or make
arrangements satisfactory to the Company regarding the payment of, any federal, state, local or
foreign taxes of any kind required by law to be withheld with respect to such amount. Unless
otherwise determined by the Committee, the minimum tax withholding obligations arising with
respect to Awards to Participating Key Employees under the Plan may be settled with Shares (other
than Restricted Securities), including Shares that are part of, or are received upon exercise of,
the Award that gives rise to the withholding requirement. The obligations of the Company under the
Plan shall be conditional on such a payment or arrangement, and the Company and any Affiliate, to
the extent permitted by law, shall have the right to deduct any such taxes from any payment
otherwise due to the Participating Key Employee. The Committee may establish such procedures as it
deems appropriate for the settling of withholding obligations with Shares, including, without
limitation, the establishment of such procedures as may be necessary to satisfy the requirements
of Rule 16b-3.

15

 

          (c) No Limit on Other Compensation Arrangements. Nothing contained in the Plan shall
prevent the Company or any Affiliate from adopting or continuing in effect other or additional
compensation arrangements, and these arrangements may be either generally applicable or applicable
only in specific cases.

          (d) Rights and Status of Recipients of Awards. The grant of an Award shall not be construed as
giving a Participating Key Employee the right to be retained in the employ of the Company or any
Affiliate. Further, the Company or any Affiliate may at any time dismiss a Participating Key
Employee from employment, free from any liability, or any claim under the Plan, unless otherwise
expressly provided in an Award Agreement. The grant of an Award to a Non-Employee Director pursuant
to Section 6 shall confer no right on the Non-Employee Director to continue as a director of the
Company. Except for rights accorded under the Plan and under any applicable Award Agreement,
Participating Key Employees and Non-Employee Directors shall have no rights as holders of Shares as
a result of the granting of Awards. Unless the Committee determines otherwise, for purposes of the
Plan and all Awards, the following rules shall apply:

          (i) a Participating Key Employee who transfers employment between the Company and any
Affiliate, or between Affiliates, will not be considered to have terminated employment;

          (ii) an individual who ceases to be a Non-Employee Director because he or she becomes
an employee of the Company or an Affiliate shall not be considered to have ceased service
as a director with respect to any Award until such individual’s termination of employment
with the Company or its Affiliates;

          (iii) a Participating Key Employee who ceases to be employed by the Company or an
Affiliate of the Company and immediately thereafter becomes a Non-Employee Director, a
non-employee director of any Affiliate, or a consultant to the Company or any Affiliate
shall not be considered to have terminated employment until the Participating Key
Employee’s service as a director of, or consultant to, the Company or its Affiliates has
ceased; and

          (iv) a Participating Key Employee employed by an Affiliate of the Company will be
considered to have terminated employment when the entity ceases to be an Affiliate of the
Company.

          (e) Unfunded Status of the Plan. Unless otherwise determined by the Committee, the Plan shall
be unfunded and shall not create (or be construed to create) a trust or a separate fund or funds.
The Plan shall not establish any fiduciary relationship between the Company and any Participating
Key Employee, any Non-Employee Director or other Person. To the extent any Person holds any right
by virtue of a grant under the Plan, That right (unless the Committee otherwise determines) shall
be no greater than the right of an unsecured general creditor of the Company.

          (f) Governing Law. Michigan law (without reference to conflict of law principles) and
applicable federal law govern this Plan. Any legal action or proceeding relating in any way to
this Plan shall be heard in the Oakland County (Michigan) Circuit Court or the Federal

16

 

District Court for the Eastern District of Michigan sitting in Detroit, Michigan. Any such action
may be heard only in a “bench” trial, and any party to such an action waives its right to assert a
jury trial. Any legal action or proceeding relating in any way to this Plan must be brought within
365 days after the day the complaining party first knew or should have known of the events giving
rise to the complaint.

          (g) Severability. If any provision of the Plan or any Award Agreement or any Award is or
becomes or is deemed to be invalid, illegal, or unenforceable in any jurisdiction, or as to any
Person or Award, or would disqualify the Plan, any Award Agreement or any Award under any law
deemed applicable by the Committee, that provision shall be construed or deemed amended to conform
to applicable laws, or if it cannot be so construed or deemed amended without, in the Committee’s
determination, materially altering the intent of the Plan, any Award Agreement or the Award, the
provision shall be stricken as to the jurisdiction, Person, or Award in question, and the
remainder of the Plan, the Award Agreement and the Award shall remain fully effective.

          (h) No Fractional Shares. No fractional Shares or other securities shall be issued or
delivered pursuant to the Plan, any Award Agreement or any Award, and the Committee shall
determine (except as otherwise provided in the Plan) whether cash, other securities, or other
property shall be paid or transferred in lieu of any fractional Shares or other securities, or
whether such fractional Shares or other securities or any related rights shall be canceled,
terminated, or otherwise eliminated.

          (i) Headings. Headings are given to the Sections and subsections of the Plan solely as a
convenience to facilitate reference. These headings shall not be deemed in any way material or
relevant to the construction or interpretation of the Plan or any of its provisions.

     Section 10. Effective Date of the Plan

          The Plan shall be effective from and after the last to occur of the following: (a) approval
of the Plan by the Board; (b) approval of the Plan by a vote of the Company’s shareholders; and
(c) the closing of the Company’s initial public offering of Shares registered with the SEC.

     Section 11. Interpretations

          All references in this Plan to a statute or regulation shall include any then-current
amendments of the statute or regulation, any successor statute or regulation and, in the case of a
statute, any rules and regulations promulgated in connection with that statute. References to
Sections mean sections in this Plan.

17

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00120-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00120-of-00352.parquet"}]]