Document:

EXHIBIT
      10.3

    GRAND
      RIVER COMMERCE, INC.

    2008
      STOCK INCENTIVE PLAN

    

    1.  PURPOSE

     

    The
      2008
      Stock Incentive Plan (“Plan”) is intended to promote shareholder value by (a)
      enabling Grand River Commerce, Inc. (“Company”) and its affiliates to attract
      and retain the best available individuals for positions of substantial
      responsibility; (b) providing additional incentive to such persons by affording
      them an equity participation in the Company; (c) rewarding those directors,
      executive officers, employees and other non-employee shareholders for their
      contributions to the Company or Grand River Bank (“Bank”); and (d) promoting the
      success of the Company’s business by aligning the financial interests of
      directors, executive officers and employees providing personal services to
      the
      Company or its affiliates with long-term shareholder value. 

     

    2.  DEFINITIONS

     

    (A)  “Act”
      means the Securities Exchange Act of 1934, as amended, or any successor
      provisions.

     

    (B)  “Affiliate”
      means (i) any entity that, directly or indirectly, is controlled by the Company,
      (ii) an entity in which the Company has a significant equity interest, (iii)
      an
      affiliate of the Company, as defined in Rule 12b-2 promulgated under the Act,
      (iv) any Subsidiary and (v) any entity in which the Company has at least twenty
      percent (20%) of the combined voting power of the entity’s outstanding voting
      securities, in each case as designated by the Board of Directors as being a
      participant employer in the Plan. For purposes of this Plan and without further
      designation by the Board of Directors, the Bank shall be deemed an Affiliate.
      

     

    (C)  “Bank”
      means Grand River Bank, a Michigan state bank, and except as otherwise specified
      in this Plan in a particular context, any successor thereto, whether by merger,
      consolidation, purchase of all or substantially all of its assets or
      otherwise.

     

    (D)  “Board
      of
      Directors” means the board of directors of the Company.

     

    (E)  “Brokered
      Assisted Exercise” means a special sale and remittance procedure pursuant to
      which the Participant shall concurrently provide irrevocable written
      instructions to (a) an administrator-designated brokerage firm to effect the
      immediate sale of Stock owned by the Participant for at least six months and
      remit to the Bank, out of the sale proceeds available on the settlement date,
      sufficient funds to cover the aggregate exercise price plus all applicable
      federal, state and local income and employment taxes required to be withheld
      by
      the Bank, and (b) the Bank to deliver the certificates for the Stock issued
      upon
      exercise of the Options directly to the Participant or such brokerage firm
      in
      order to complete the sale.

     

    (F)  “Change
      of Control” means:

     

    (i)  the
      acquisition by any individual, entity or “group,” within the meaning of section
      13(d)(3) or section 14(d)(2) of the Act (other than the current members of
      the
      boards of directors of the Company or the Bank or any of their descendants,
      the
      Company, the Bank, or any savings, pension or other benefit plan for the benefit
      of the employees of the Company or the Bank or subsidiaries thereof)(a
“Person”), of beneficial ownership (within the meaning of Rule 13d-3 promulgated
      under the Act) of voting securities of the Company or the Bank where such
      acquisition causes any such Person to own fifty percent (50%) or more of the
      combined voting power of the Company’s or Bank’s then outstanding capital stock
      then entitled to vote generally in the election of directors;

     

    
      
         

      

      
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    (ii)  within
      any twelve-month period, the persons who were directors of the Company
      immediately before the beginning of the twelve-month period (the “Incumbent
      Directors”) shall cease to constitute at least a majority of the Board of
      Directors; provided that any individual becoming a director subsequent to the
      beginning of such twelve-month whose election, or nomination for election by
      the
      Company’s shareholders, was approved by at least two-thirds of the directors
      then comprising the Incumbent Directors shall be considered as though such
      individual were an Incumbent Director unless such individual’s initial
      assumption of office occurs as a result of either an actual or threatened
      election contest (as such terms are used in Rule 14a-11 of Regulation 14A
      promulgated under the Act);

     

    (iii)  a
      reorganization, merger, consolidation or other corporate transaction involving
      the Company or the Bank, in each case, with respect to which the shareholders
      of
      the Company or the Bank, respectively, immediately prior to such transaction
      do
      not, immediately after the transaction, own more than fifty percent (50%) of
      the
      combined voting power of the reorganized, merged or consolidated company’s then
      outstanding voting securities;

     

    (iv)  the
      sale,
      transfer or assignment of all or substantially all of the assets of the Company
      or the Bank to any third party;

     

    (v)  a
      dissolution or liquidation of the Company or the Bank; or

     

    (vi)  any
      other
      transactions or series of related transactions occurring which have
      substantially the same effect as the transactions specified in clauses (i)
      -
      (v), as determined by the Board of Directors.

     

    (G)  “Code”
      means the Internal Revenue Code of 1986, as amended, or any successor
      provisions.

     

    (H)  “Controlling
      Participant” means any person who, immediately before an Option is granted to
      that particular person, directly or indirectly (within the meaning of section
      424 of the Code and the regulations promulgated thereunder) possesses more
      than
      ten percent (10%) of the total combined voting power of all classes of stock
      of
      the Company or any Subsidiary. The determination of whether an person is a
      Controlling Participant shall be made in accordance with sections 422 and 424
      of
      the Code, or any successor provisions, and the regulations promulgated
      thereunder.

     

    (I)  “Committee”
      means the committee appointed by the Board of Directors to administer the Plan
      pursuant to Section 4(A).
      If the
      Committee has not been appointed, the Board of Directors in its entirety shall
      constitute the Committee. The Board of Directors shall consider the advisability
      of whether the members of the Committee shall consist solely of two or more
      member of the Board of Directors who are each “outside directors” as defined in
      Treas. Reg. section 1.162-27(e)(3) as promulgated by the Internal Revenue
      Service and “non-employee directors” as defined in Rule 16b-3(b)(3) as
      promulgated under the Act. 

     

    (J)  “Company”
      means Grand River Commerce, Inc., a Michigan corporation and registered bank
      holding company, and except as otherwise specified in this Plan in a particular
      context, any successor thereto, whether by merger, consolidation, purchase
      of
      all or substantially all of its assets or otherwise.

     

    
      
         

      

      
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    (K)  “Exercise
      Price” means the price at which a share of Stock may be purchased by a
      Participant pursuant to the exercise of an Option, as specified in the
      respective Stock Option Agreement.

     

    (L)  “Fair
      Market Value” on any date with respect to the Stock means:

     

    (i)  if
      the
      Stock is listed on a national securities exchange, the last reported sale price
      of a share of the Stock on such exchange or, if no sale occurs on that date,
      the
      average of the reported closing bid and asked prices on that date,

     

    (ii)  if
      the
      Stock is otherwise publicly traded, the last reported sale price of a share
      of
      the Stock under the quotation system under which the sale price is reported
      or,
      if no sale occurs on that date, the average of the reported closing bid and
      asked prices on that date under the quotation system under which the bid and
      asked prices are reported,

     

    (iii)  if
      no
      such last sales price or average of the reported closing bid and asked prices
      are available on that date, the last reported sale price of a share of the
      Stock, or if no sale takes place, the average of the reported closing bid and
      asked prices as so reported for the immediately preceding business day (a)
      on
      the national securities exchange on which the Stock is listed or (b) if the
      Stock is otherwise publicly traded, under the quotation system under which
      such
      data are reported, or 

     

    (iv)  if
      none
      of the prices described above is available, the value of a share of the Stock
      as
      reasonably determined in good faith by the Committee in a manner that it
      believes to be in accordance with the Code.

     

    In
      determining the Fair Market Value of a share of Stock in connection with the
      issuance of an ISO, the Fair Market Value shall be determined without regard
      to
      any restriction, other than a restriction that, by its terms, will never
      lapse.

     

    (M)  “ISO”
      means an Option (or portion thereof) intended to qualify as an “incentive stock
      option” within the meaning of section 422 of the Code, or any successor
      provision.

     

    (N)  “NQSO”
      means an Option (or portion thereof) that is not intended to, or does not,
      qualify as an “incentive stock option” within the meaning of section 422 of the
      Code, or any successor provision.

     

    (O)  “Option”
      means the right of a Participant to purchase shares of Stock in accordance
      with
      the terms of this Plan and the Stock Option Agreement between such Participant
      and the Company.

     

    (P)  “Parent”
      means a parent corporation, if any, with respect to the Company, as defined
      in
      section 424(e) of the Code and regulations promulgated or rulings issued
      thereunder.

     

    (Q)  “Participant”
      means any person to whom an Option has been granted pursuant to this Plan and
      who is a party to a Stock Option Agreement.

     

    (R)  “Stock”
      means the common stock of the Company, $0.01 par value per share.

     

    (S)  “Stock
      Option Agreement” means an agreement by and between a Participant and the
      Company setting forth the specific terms and conditions under which Stock may
      be
      purchased by such Participant pursuant to the exercise of an Option. Such Stock
      Option Agreement shall be subject to the provisions of this Plan (which shall
      be
      incorporated by reference therein) and shall contain such provisions as the
      Board of Directors, in its sole discretion, may authorize.

     

    
      
         

      

      
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    (T)  “Subsidiary”
      means a subsidiary corporation of the Company, as defined in section 424(f)
      of
      the Code and regulations promulgated or rulings issued thereunder.

     

    (U)  “Termination
      Date” means the date on which the Participant ceased to be an employee of the
      Company or any Affiliate; provided however, that with respect to an ISO, it
      means the date on which the Participant ceased to be an employee of the Company
      or any Parent or Subsidiary.

     

    3.  SHARES
      AVAILABLE UNDER THE PLAN

     

    (A)  Shares
      Subject to the Plan.
      Subject
      to adjustment in accordance with the provisions of this Section 3, the total
      number of shares of Stock as to which Options may be granted shall be 200,000
      shares, all of which may be awardable as ISOs. Stock issued under the Plan
      may
      be either authorized but unissued shares or shares that have been reacquired
      by
      the Company. Any shares issued by the Company in connection with the assumption
      or substitution of outstanding grants from any acquired corporation shall not
      reduce the shares of Stock available for Options under the Plan. 

     

    (B)  Forfeited
      Awards.
      In the
      event that any outstanding Option under the Plan for any reason expires
      unexercised, is forfeited or is terminated prior to the end of the period during
      which Options may be issued under the Plan, the shares of Stock allocable to
      the
      unexercised portion of such Option that has expired, been forfeited or been
      terminated shall become available for future issuance under the Plan.

     

    (C)  Shares
      Used to Pay Exercise Price and Taxes.
      Shares
      of Stock delivered to the Company to pay the Exercise Price of any Option or
      to
      satisfy the Participant’s income tax withholding obligation shall become
      available for future issuance under the Plan.

     

    (D)  Adjustments
      on Changes in Stock.
      In the
      event of any change in the outstanding shares of Stock by reason of any merger,
      reorganization, consolidation, recapitalization, stock dividend, stock split,
      reverse stock split, spinoff, combination or exchange of shares or other
      corporate change, the Committee, in its sole discretion, may make such
      substitution or adjustment, if any, as it deems to be equitable or appropriate,
      as
      to:
      (i) the maximum number of shares of Stock that may be issued under the Plan
      as
      set forth in Section 3(A);
      (ii)
      the number or kind of shares subject to an Option; (iii) subject to the
      limitation contained in Section 6(P),
      the
      Exercise Price applicable to an Option; (iv) any measure of performance that
      relates to an Option in order to reflect such change in the Stock and/or (v)
      any
      other affected terms of any Option; provided however, that no adjustment shall
      occur with respect to an ISO unless: (y) the excess of the aggregate Fair Market
      Value of the shares of Stock subject to the ISO immediately after any such
      adjustment over the aggregate Exercise Price of such shares is not more than
      the
      excess of the aggregate Fair Market Value of all shares subject to the ISO
      immediately prior to such adjustment over the Exercise Price of all shares
      subject to the ISO; and (z) the new or adjusted ISO does not grant the
      Participant additional benefits that the Participant did not previously
      have.

     

    4.  ADMINISTRATION

     

    (A)  Procedure.
      The
      Plan shall be administered, construed and interpreted by the Committee, as
      such
      Committee is from time to time constituted, or any successor committee the
      Board
      of Directors may designate to administer the Plan. The Committee may delegate
      any of its powers and duties to appropriate officer(s) of the Company in
      accordance with guidelines established by the Committee from time to
      time.

     

    
      
         

      

      
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    (B)  Powers
      of the Committee.
      Subject
      to the other provisions of the Plan, the Committee shall have all powers vested
      in it by the terms of the Plan as set forth herein, such powers to include
      exclusive authority (except as may be delegated as permitted herein): (i) to
      select those persons to be granted Options under the Plan; (ii) to determine
      the
      type, size and terms of the Option to be granted to each individual selected;
      (iii) to modify the terms of any Option that has been granted; (iv) to determine
      the time when Options will be granted; (v) to establish performance objectives;
      (vi) to determine the Fair Market Value of the Stock under Section 2(L)(iv);
      (vii)
      to interpret the Plan and decide any questions and settle all controversies
      or
      disputes that may arise in connection with the Plan; (viii) to adopt, amend
      and
      rescind rules and regulations relating to the Plan; (ix) to prescribe the form
      or forms of instruments evidencing Options and any other instruments required
      under the Plan and to change such forms, in its sole and absolute discretion,
      from time to time; (x) to accelerate or defer (with the consent of the
      Participant) the vesting period or exercise date of any Option; (xi) to
      authorize any person to execute on behalf of the Company any instrument required
      to effectuate the grant of an Option previously granted by the Committee; and
      (xii) to make all other determinations and perform all other acts necessary
      or
      advisable for the administration of the Plan. The Committee (or its delegate
      as
      permitted herein) may correct any defect, supply any omission or reconcile
      any
      inconsistency in the Plan or in any Option in the manner and to the extent
      that
      it shall deem desirable to carry the Plan or any Option into
      effect.

     

    (C)  Effect
      of Decision of the Committee and Board of Directors.
      All
      decisions, determinations, actions and interpretations of the Committee (or
      its
      delegate as permitted herein) or the Board of Directors (or its delegate as
      permitted herein) in the administration of the Plan shall lie with the Committee
      and the Board of Directors, respectively, within its sole and absolute
      discretion and shall be final, conclusive and binding on all parties concerned;
      provided that the Committee or the Board of Directors, as applicable, may,
      in
      its sole and absolute discretion, overrule an action, decision, determination
      or
      interpretation of a person to whom it has delegated authority.

     

    (D)  Liability
      of Board of Directors or the Committee.
      No
      member of the Board of Directors or Committee or any officer of the Company
      shall be liable for anything done or omitted to be done by him, by any other
      member of the Board of Directors or Committee or any officer of the Company
      in
      connection with the performance of duties under the Plan, except for his own
      willful misconduct or as expressly provided by statute. The members of the
      Board
      of Directors and Committee and officers of the Company shall be entitled to
      indemnification in connection with the performance of their respective duties
      under the Plan to the extent provided in the articles of incorporation or bylaws
      of the Company or otherwise by law.

     

    5.  ELIGIBILITY

     

    Consistent
      with the purposes of the Plan, the Committee shall have the power (except as
      may
      be delegated as permitted herein) to select the employees and other individuals
      performing services for, or making contributions to, the Company and its
      Affiliates who may participate in the Plan and be granted Options under the
      Plan. No person who is not an employee of the Company or a Parent or a
      Subsidiary shall be eligible to receive an ISO award under the Plan. For
      purposes of this Plan, the term “employee” means an individual employed by the
      Company or a Subsidiary whose income from those entities is subject to Federal
      Income Contributions Act (“FICA”) withholding. 

     

    6.  TERMS
      AND CONDITIONS APPLICABLE TO OPTIONS UNDER THE PLAN

     

    Options
      granted pursuant to the Plan shall be evidenced by Stock Option Agreements
      in
      such form as the Board of Directors shall, from time to time, approve, which
      agreements shall in substance include or incorporate, comply with and be subject
      to the following terms and conditions (except as necessary to conform to the
      requirements of law, including the laws of the jurisdiction where the
      Participant resides):

     

    (A)  Medium
      and Time of Payment.
      The
      Exercise Price shall be paid in full at the time the Option is exercised. The
      Exercise Price shall be payable either in (i) United States dollars in cash
      or
      by check, bank draft, money order or wire transfer of good funds payable to
      the
      Company; (ii) upon conditions established by the Committee, by delivery of
      shares of Stock owned by the Participant for at least six (6) months prior
      to
      the date of exercise; or (iii) by a combination of (i) and (ii);
      provided, however, that clauses (ii) and (iii) shall not become operable until
      the third anniversary of the date that the Bank opens for business. A Broker
      Assisted Exercise shall be deemed to be an exercise for cash under clause (i)
      of
      the preceding sentence.

     

    
      
         

      

      
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    (B)  Number
      of Shares.
      The
      total number of shares to which each Option pertains shall be designated in
      the
      Stock Option Agreement at the time of grant.

     

    (C)  Designation
      of Option.
      Each
      Option shall be designated in the Stock Option Agreement as either an ISO or
      a
      NQSO and, in the absence of such designation, shall be deemed to be a NQSO.
      In
      the event that a person is granted concurrently an ISO and a NQSO, such Options
      shall be evidenced by separate Stock Option Agreements. However, notwithstanding
      such designations, to the extent that (i) the aggregate Fair Market Value
      (determined as of the time of grant) of the Stock with respect to which Options
      designated as ISOs are exercisable for the first time by any employee during
      any
      calendar year (under all plans of the Company and any Subsidiary) exceeds
      $100,000, or (ii) an ISO does not meet any other requirement to be an “incentive
      stock option” within the meaning of section 422 of the Code, such Options, or
      portions thereof, shall be treated as NQSOs. For purposes of this section,
      Options shall be taken into account in the order in which they were
      granted.

     

    (D)  Exercise
      Price.
      The
      Exercise Price per share of Stock under an Option shall be determined by the
      Committee in its sole discretion; provided however that the Exercise Price
      shall
      be not less than one hundred percent (100%) of the Fair Market Value on the
      date
      that such Option is granted and, in the case of an ISO granted to a Controlling
      Participant, the Exercise Price shall be not less than one hundred ten percent
      (110%) of the Fair Market Value on the date that such Option is
      granted.

     

    (E)  Option
      Term.
      The
      term of an Option shall be fixed by the Committee, in its sole discretion,
      in
      each Stock Option Agreement; provided however that for any Option to qualify
      as
      an ISO, the Option shall expire not more than ten years from the date the Option
      is granted and, in the case of a Controlling Participant, not more than five
      years from the date the Option is granted.

     

    (F)  Exercise
      of Options.
      Subject
      to the provisions of this Plan and the applicable Stock Option Agreement, an
      Option may be exercised at any time during the term of the Option. An Option
      shall
      be
      deemed exercised when (i) written notice of such exercise, in the form
      prescribed by the Committee, has been received by the Company in accordance
      with
      the terms of the Option by the person entitled to exercise the Option and (ii)
      full payment for the Stock with respect to which the Option is exercised has
      been received by the Company in accordance with Section 6(A)
      and the
      Stock Option Agreement. The written notice shall include the number of shares
      to
      be exercised by the Participant. Except
      as
      otherwise expressly provided in writing by the Board of Directors, an Option
      may
      not be exercised for a fractional share of Stock. 

     

    (G)  Stock
      Certificates.
      Promptly upon exercise of an Option, the Company shall issue (or cause to be
      issued) certificates evidencing the shares of Stock acquired as a result of
      the
      exercise of the Option. In the event that the exercise of an Option is treated
      in part as the exercise of an ISO and in part as the exercise of a NQSO pursuant
      to Section 6(C)
      hereof,
      the Company shall issue a certificate evidencing the shares of Stock treated
      as
      acquired upon the exercise of an ISO and a separate certificate evidencing
      the
      shares of Stock treated as acquired upon the exercise of a NQSO, and shall
      identify each such certificate accordingly in its stock transfer
      records.

     

    All
      certificates for shares of Stock delivered under the Plan pursuant to any Option
      shall be subject to such stock transfer orders and other restrictions as the
      Committee may deem advisable under the rules, regulations and other requirements
      of the Securities and Exchange Commission, any stock exchange upon which the
      Stock is then listed, and any applicable federal or state securities laws or
      regulations, and the Committee may cause a legend or legends to be put on any
      such certificates to make appropriate reference to such
      restrictions.

     

    
      
         

      

      
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    (H)  Date
      of Exercise.
      The
      Committee may, in its sole discretion, provide that an Option may not be
      exercised in whole or in part for any period or periods of time specified by
      the
      Committee; provided, however, that any Options granted under the Plan during
      the
      first three years of the Bank’s existence must vest over a minimum of three
      years. Except as may be so provided, any Option may be exercised in whole at
      any
      time, or in part from time to time, during its term. In the case of an Option
      not immediately exercisable in full, the Committee may at any time accelerate
      the time at which all or any part of the Option may be exercised.

     

    (I)  Termination
      of Service.
      The
      Committee may determine, at the time of grant, for each Option the extent to
      which the Participant (or his legal representative) shall have the right to
      exercise the Option following termination of such Participant’s service to the
      Company, any Subsidiary or any Affiliate. Such provisions may reflect
      distinctions based on the reasons for the termination of service and any other
      relevant factors that the Committee may determine. In the absence of such
      standards, any Option granted to an employee of the Company or any Affiliate
      pursuant to the Plan that has not vested prior to the Termination Date shall
      expire immediately upon the Termination Date, and any Option granted to an
      employee of the Company or any Affiliate pursuant to the Plan that has vested
      prior to the Termination Date shall expire three (3) months following the
      Termination Date; provided however that if the cessation of Participant’s
      service is due to his death or disability (as defined in section 22(e)(3) of
      the
      Code), such Option shall expire one year from the Termination Date.

     

    (J)  Transferability.
      Except
      as otherwise permitted by the Committee, Options shall be nontransferable
other
      than by will or the laws of descent and distribution and shall be exercisable
      during the lifetime of the Participant only by the Participant (or in the event
      of his disability (as defined in section 22(e)(3) of the Code), by his guardian
      or legal representative) and after his death, only by the Participant’s legal
      representatives, heirs, legatees, or distributees. 

     

    (K)  No
      Rights as a Participant.
      No
      person shall, with respect to any Option, be deemed to have become a
      Participant, or to have any rights with respect to such Option, unless and
      until
      such person shall have executed a Stock Option Agreement or other instrument
      evidencing the Option and delivered a copy thereof to the Company, and otherwise
      complied with the then applicable terms and conditions. 

     

    (L)  No
      Rights as a Shareholder.
      Notwithstanding the exercise of an Option, a Participant shall have no rights
      as
      a shareholder with respect to shares covered by an Option until the date the
      certificates evidencing the shares of Stock are issued (as evidenced by the
      appropriate entry on the books of the Company or of a duly authorized transfer
      agent of the Company). No adjustment will be made for dividends or other rights
      the record date for which is prior to the date of issuance. Upon issuance of
      the
      certificates evidencing the shares of Stock acquired upon exercise of an Option,
      such shares of Stock shall be deemed to be transferred for purposes of section
      421 of the Code and the regulations promulgated thereunder.

     

    
      
         

      

      
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    (M)  Tax
      Withholding.
      As a
      condition to the exercise of any Option, the Company shall have the right to
      require that the Participant exercising the Option (or the recipient of any
      shares of Stock) remit to the Company an amount calculated by the Company to
      be
      sufficient to satisfy applicable federal, state, foreign or local withholding
      tax requirements (or make other arrangements satisfactory to the Company with
      regard to such taxes) prior to the delivery of any certificate evidencing shares
      of Stock. If permitted by the Company, either at the time of the grant of the
      Option or in connection with its exercise, the Participant may satisfy
      applicable withholding tax requirements by delivering a number of whole shares
      of Stock owned by the Participant for at least six (6) months prior to the
      date
      of exercise and having a Fair Market Value (determined on the date that the
      amount of tax to be withheld is to be fixed) at least equal to the aggregate
      amount required to be withheld; provided, however, that the cashless withholding
      feature provided in this sentence shall not become effective until the third
      anniversary of the date that the Bank opens for business.

     

    In
      the
      case of an ISO, the Committee may require as a condition of exercise that the
      Participant exercising the Option agree to inform the Company promptly of any
      disposition (within the meaning of section 424(c) of the Code and the
      regulations thereunder) of Stock received upon exercise.

     

    (N)  Change
      of Control.
      Unless
      the Committee shall determine otherwise at the time of grant with respect to
      a
      particular Option, all Options outstanding as of the date of a Change of Control
      or an agreement to effect a Change of Control, and which are not then
      exercisable and vested, shall become fully exercisable and vested to the full
      extent of the original grant. The
      determination as to whether a Change of Control or an agreement to effect a
      Change of Control has occurred shall be made by the Committee and shall be
      conclusive and binding.

     

    (O)  Additional
      Restrictions and Conditions.
      The
      Committee may impose such other restrictions and conditions (in addition to
      those required by the provisions of this Plan) on any Option granted hereunder
      and may waive any such additional restrictions and conditions, so long as (i)
      any such additional restrictions and conditions are consistent with the terms
      of
      this Plan and (ii) such waiver does not waive any restriction or condition
      required by the provisions of this Plan.

     

    (P)  Repricing.
      The
      Committee shall not, without the further approval of the Board of Directors,
      (i)
      authorize the amendment of any outstanding Option to reduce the Exercise Price
      of such Option or (ii) grant a replacement Option upon the surrender and
      cancellation of a previously granted Option for the purpose of reducing the
      Exercise Price of such Option. Nothing contained in this section shall affect
      the right of the Board of Directors or the Committee to make the adjustment
      permitted under Section 3(D).

     

    7.  AMENDMENT
      AND TERMINATION OF THE PLAN

     

    The
      Committee may amend, alter, suspend, or terminate the Plan or any portion hereof
      at any time; provided that no such amendment, alteration, suspension or
      termination shall be made without the approval of the shareholders of the
      Company if such approval is necessary to qualify for or comply with any tax
      or
      regulatory requirement for which or with which the Board of Directors deems
      it
      necessary or desirable to qualify or comply. No amendment, suspension or
      termination of the Plan shall adversely affect the right of any Participant
      with
      respect to any Option theretofore granted, as determined by the Committee,
      without such Participant’s written consent.

     

    Unless
      earlier terminated, the Plan shall remain in effect until all shares issuable
      under the Plan have been purchased or acquired in accordance with the Plan.
      In
      no event may any Options be granted under the Plan more than ten (10) years
      after the earlier of the date on which the Plan is adopted or the date on which
      the Plan is approved by the shareholders of the Company. Such termination by
      lapse of time shall not effect the validity or terms of any Option then
      outstanding or the ability of the Committee to amend, alter, adjust, suspend,
      discontinue or terminate any such Option or to waive any conditions or rights
      under any such Option for so long as the Option is outstanding.

     

    8.  LEGALITY
      OF GRANT

     

    The
      granting of Options under this Plan and the issuance or transfer of Options
      and
      shares of Stock pursuant hereto are subject to all applicable federal and state
      laws, rules and regulations and to such approvals by any regulatory or
      government agency (including, without limitation, no-action positions of the
      Securities and Exchange Commission) which may, in the opinion of counsel for
      the
      Company, be necessary or advisable in connection therewith. Without limiting
      the
      generality of the foregoing, no Options may be granted under this Plan and
      no
      Options or shares shall be issued by the Company unless and until in any such
      case all legal requirements applicable to the issuance or payment have, in
      the
      opinion of counsel for the Company, been complied with. In connection with
      any
      Option or Stock issuance or transfer, the person acquiring the shares or the
      Option shall, if requested by the Company, give assurance satisfactory to
      counsel to the Company with respect to such matters as the Company may deem
      desirable to assure compliance with all applicable legal
      requirements.

     

    
      
         

      

      
        8

        
          

        

      

      
         

      

    

     

    9.  NO
      EMPLOYMENT/SERVICE RIGHTS

     

    Nothing
      in this Plan or any Stock Option Agreement shall confer upon any person the
      right to participate in the benefits of the Plan or to be granted an Option,
      and
      there shall be no obligation to provide uniformity of treatment in connection
      with the administration of this Plan. The terms and conditions of Options or
      Stock Option Agreements need not be the same with respect to each
      Participant.

     

    Nothing
      in this Plan or any Stock Option Agreement shall be construed as constituting
      a
      commitment, guarantee, agreement or understanding of any kind or nature that
      the
      Company or any Affiliate shall continue to employ, retain or engage any
      individual (whether or not a Participant). Neither this Plan nor any Stock
      Option Agreement executed in accordance with this Plan shall affect in any
      way
      the right of the Company or any Affiliate to terminate the employment or
      engagement of any individual (whether or not a Participant) at any time and
      for
      any reason whatsoever and to remove any individual (whether or not a
      Participant) from any position with the Company or any Affiliate. No change
      of a
      Participant’s duties with the Company or any Affiliate shall result in a
      modification of any rights of such Participant under this Plan or any Stock
      Option Agreement executed by such Participant. 

     

    10.  EFFECTIVE
      DATE

     

    This
      Plan
      shall become effective upon its approval by the Board of Directors; provided
      however that no grant of an Option under this Plan shall qualify as an ISO
      unless, within one year of the date the Plan becomes effective, the Plan is
      approved by the affirmative vote of a majority of the shareholders of the
      Company present, in person or by proxy, at a meeting of the shareholders of
      the
      Company. The Committee may grant ISOs subject to the condition that this Plan
      shall have been approved by the shareholders of the Company as provided herein.
      

     

    11.  RESERVATION
      OF SHARES

     

    The
      Company, during the term of this Plan, shall at all times reserve and keep
      available such number of shares of Stock as shall be sufficient to satisfy
      the
      requirements of the Plan.

     

    12.  MINIMUM
      CAPITAL REQUIREMENTS

     

    Notwithstanding
      any provision of this Plan or any Stock Option Agreement to the contrary, all
      Options granted under the Plan shall expire, to the extent not exercised, within
      45 days following the receipt of notice from the Bank’s state or primary federal
      regulator (“Regulator”) that (i) the Bank has not maintained its minimum capital
      requirements (as determined by the Regulator); and (ii) the Regulator is
      requiring termination or forfeiture of options. Upon receipt of such notice
      from
      the Regulator, the Company shall promptly notify each Participant that all
      Options issued under this Plan have become fully exercisable and vested to
      the
      full extent of the grant and that the Participant must exercise the Option(s)
      granted to him prior to the end of the 45-day period or such earlier period
      as
      may be specified by the Regulator or forfeit such Option. In case of forfeiture,
      no Participant shall have a cause of action, of any kind or nature, with respect
      to the forfeiture against the Company or any Affiliate. Neither the Company
      nor
      any Affiliate shall be liable to any Participant due to the failure or inability
      of the Company or any Affiliate to provide adequate notice to the
      Participant.

     

    
      
         

      

      
        9

        
          

        

      

      
         

      

    

     

    13.  ADMINISTRATION
      OF PLAN

     

    Notwithstanding
      any other provision herein to the contrary, this Plan shall be administered
      in
      accordance with the provisions of the Federal Deposit Insurance Corporation’s
      Statement of Policy on Applications for Deposit Insurance as such policy relates
      to stock benefit plans.

     

    14.  GENERAL

     

    (A)  Burden
      and Benefit.
      The
      terms and provisions of this Plan and the Options issued hereunder shall be
      binding upon, and shall inure to the benefit of, the Company and each
      Participant and any permitted successors and assigns.

     

    (B)  Interpretation.
      When
      a
      reference is made in this Plan to a Section, such reference will be to a Section
      of this Plan
      unless
      otherwise indicated. The headings contained
      in this Plan are for convenience of reference only and will not affect in any
      way the meaning or interpretation of this Plan or any Option. Whenever the
      words
“include,” “includes” or “including” are used in this Plan, they will be deemed
      to be followed by the words “without limitation.” The words “hereof,” “herein”
and “hereunder” and words of similar import when used in this Plan will refer to
      this Plan as a whole and not to any particular provision in this Plan. Each
      use
      herein of the masculine, neuter or feminine gender will be deemed to include
      the
      other genders. Each use herein of
      the
      plural will include the singular and
      vice
      versa, in each case as the context requires or as is otherwise appropriate.
      The
      word “or” is used in the inclusive sense. Any agreement, instrument
      or statute
      defined or referred to herein or in any agreement or instrument that is referred
      to herein means such agreement, instrument or statute as from time to time
      amended, modified or supplemented, including (in the case of agreements or
      instruments) by waiver or consent and (in the case of statutes) by succession
      of comparable
      successor statutes and references to all attachments thereto and instruments
      incorporated therein. References to a person are also to its permitted
      successors or assigns. No
      provision of this Plan is to be construed to require, directly or indirectly,
      any person to take any action, or omit to take any action, which action or
      omission would violate applicable law (whether statutory or common law), rule
      or
      regulation.

     

    (C)  Costs
      and Expenses.
      All
      costs and expenses with respect to the adoption, implementation and
      administration of this Plan shall be borne by the Company; provided however
      that, except as otherwise specifically provided in this Plan or the applicable
      Stock Option Agreement between the Company and a Participant, the Company shall
      not be obligated to pay any costs or expenses (including legal fees) incurred
      by
      any Participant in connection with any Stock Option Agreement, this Plan or
      any
      Option or Stock held by any Participant.

     

    (D)  Unfunded
      Status of Plan.
      The
      Plan is intended to constitute an “unfunded” plan for long-term incentive
      compensation. Neither the Plan nor any Option shall create or be construed
      to
      create a trust or separate fund of any kind or a fiduciary relationship between
      the Company or any Affiliate and a Participant or any other person. Nothing
      contained herein shall be construed to give any Participant any rights with
      respect to any Option, unexercised or exercised, or any other matters under
      this
      Plan that are greater than those of a general unsecured creditor of the
      Company.

     

    (E)  Governing
      Law.
      The
      validity, construction and effect of the Plan, any rules and regulations
      relating to the Plan and any Option granted hereunder shall be determined in
      accordance with the laws of the State of Michigan, without reference to the
      laws
      that might otherwise govern under applicable principles of conflicts of law.
      

     

    
      
         

      

      
        10

        
          

        

      

      
         

      

       

    

    (F)  Severability.
      If any
      term or other provision of this Plan or any Stock Option Agreement is held
      to be
      illegal, invalid or unenforceable by any rule of law or public policy, such
      term
      or provision shall
      be
      fully severable and this Plan or the Stock Option Agreement shall be construed
      and enforced as if such illegal, invalid
      or unenforceable provision were not a part hereof, and all other conditions
      and
      provisions shall remain
      in
      full force and effect. Upon such determination that any term or other provision
      is invalid, illegal or unenforceable, there shall be added automatically
      as a part of this Plan or the Stock Option Agreement a provision as similar
      in
      terms to such illegal, invalid or unenforceable provision
      as may be possible and still be legal, valid and enforceable.
      If any
      provision of this Plan or any Stock Option Agreement is so broad as to be
      unenforceable, the provision shall be interpreted to be only as broad as is
      enforceable.

     

    (G)  Certain
      Conflicts.
      In the
      event of an irreconcilable conflict between the terms of the Plan and any Stock
      Option Agreement, the terms of the Plan shall prevail.

     

    (H)  Notices.
      Any
      notice or other communication required or permitted to be made hereunder or
      by
      reason of the provisions of this Plan or any Stock Option Agreement shall be
      in
      writing, duly signed by the party giving such notice or communication and shall
      be deemed to have been properly delivered if delivered personally or by a
      recognized overnight courier service, or sent by first-class certified or
      registered mail, postage prepaid, as follows (or at such other address for
      a
      party as shall be specified by like notice): (i) if given to the Company, at
      its
      principal place of business, and (ii) if to a Participant, as provided in his
      Stock Option Agreement.
      Any
      notice properly given hereunder shall be effective on the date on which it
      is
      actually received by the party to whom it was addressed. 

     

    
      
         

      

      
        11

        
          

        

      

      
         

      

    

    IN
      WITNESS WHEREOF,
      the
      Company, acting by and through its duly authorized officer, has executed this
      Plan on this the ______ day of _________, 2008.

     

    
      	 	 	 GRAND
              RIVER COMMERCE, INC.
	 
 	 
 	 
 
	 	By:  	 
	 	
              
Robert
              P. Bilotti, President & Chief Executive
              Officer

    

     

    
      
         

      

      
        12EXHIBIT
      10.4

     

    EXECUTIVE
      EMPLOYMENT AGREEMENT

     

    This
      EXECUTIVE
      EMPLOYMENT AGREEMENT
      (“Agreement”) is made and entered into as of this ___ day of __________, 2008,
      by and between Grand River Bank, a Michigan state bank (“Bank”), and David H.
      Blossey, an individual resident of the State of Michigan
      (“Executive”).

     

    WHEREAS,
      the
      Executive has considerable experience, expertise and training in management
      related to banking and services offered by the Bank; 

     

    WHEREAS,
      the
      Bank desires for the Executive to be employed as the Chief Executive Officer
      of
      the Bank, and Executive desires to accept employment, subject to and on the
      terms and conditions set forth in this Agreement; and

     

    WHEREAS,
      both
      the Bank and the Executive have read and understood the terms and provisions
      set
      forth in this Agreement and have been afforded a reasonable opportunity to
      review this Agreement with their respective legal counsel.

     

    NOW,
      THEREFORE,
      in
      consideration of the mutual promises and covenants set forth in this Agreement,
      the Executive and the Bank agree as follows:

     

    A.
        DURATION

     

    1.  This
      Agreement shall become effective (the “Effective Date”) upon the date that the
      Bank opens for business and,
      subject to Paragraph 2
      below,
      will expire and terminate by its own terms three years after the Effective
      Date,
      unless earlier terminated as provided herein.

     

    2.  Both
      the
      Bank and the Executive acknowledge and agree that the parties may agree to
      continue the employment relationship upon such terms as they may mutually agree.
      Following the initial three-year term, this Agreement automatically shall renew
      annually for an additional one (1) year term unless either party elects to
      terminate this Agreement by sending written notice of non-renewal at least
      thirty (30) days prior to the expiration of the then current term. Both parties
      acknowledge and agree that, in the event this Agreement does not renew, this
      Agreement shall terminate automatically upon the expiration of the then current
      term without any additional liability or obligation on the part of either party,
      except as expressly provided herein.

     

    B.
        COMPENSATION

     

    3.  All
      payments of salary and other compensation to the Executive shall be payable
      in
      accordance with the Bank’s ordinary payroll and other policies and
      procedures.

     

    a.  During
      the term of this Agreement, the Bank agrees to pay the Executive a base salary
      of not less than $175,000 annually, appropriately prorated for partial months
      at
      the commencement and end of the term of this Agreement.

     

    b.  The
      Bank
      shall have the right to deduct from any payment of compensation to the Executive
      hereunder any federal, state or local taxes required by law to be withheld
      with
      respect to such payments and any other amounts specifically authorized to be
      withheld or deducted by the Executive.

     

    
      
        
        

      

      
        1

        
          

        

      

      
        
        

      

    

     

    c.  During
      the term of this Agreement, it is anticipated that the board of directors of
      the
      Bank (“Board of Directors” or “Board”) or a delegated committee thereof will
      adopt an executive incentive bonus plan based upon the asset growth and
      profitability of the Bank. The Executive will be entitled to participate in
      such
      plan. The Executive shall also be entitled to participate in any benefit
      programs applicable to all employees of the Bank or to executive employees
      of
      the Bank in accordance with Bank policy and the provisions of said benefit
      programs.

     

    d.  The
      Executive shall receive options to purchase 25,000 shares of common stock of
      the
      Bank at an exercise price of $10 per share. The options shall have a term of
      ten
      years from the date of issuance, which shall be the Effective Date, and to
      the
      extent permitted by law, shall be treated as incentive stock options. The
      options shall vest ratably over a period of five years, beginning on the first
      anniversary date of the Effective Date. The options shall be evidenced by a
      stock option agreement, which shall have such terms as are consistent with
      those
      set forth above and such additional terms as may be set forth in the stock
      option agreement or the stock option plan pursuant to which the options are
      granted.

     

    e.  For
      the
      first two years after the Effective Date, the Bank shall provide a monthly
      allowance for automobile expenses in the amount of $________ payable monthly
      (pro rated for any partial month), in arrears, on the third business day of
      each
      month. The Executive shall have no obligation to account for his or her monthly
      automobile expenses. After the second anniversary following the Effective Date,
      the Bank shall, in its sole discretion, increase such car
      allowance.

     

    f.  The
      Bank
      shall appoint Executive as a director and shall seek for Grand River Commerce,
      Inc. (“GRCI”) to have Executive appointed as a director of GRCI.

     

    4.  The
      Bank
      shall provide the Executive with a cellular phone and laptop computer for use
      in
      the performance of his or her duties and obligations under this Agreement.
      The
      Bank also shall reimburse the Executive for all reasonable expenses, including,
      but not limited to, travel expenses, lodging expenses, and meals and
      entertainment expenses, that the Executive may incur in the performance of
      his
      or her duties and obligations under this Agreement; provided, however, that
      the
      Executive shall be required to submit receipts or other acceptable documentation
      to the cashier of the Bank or such other officer designated by the Board of
      Directors to verify such expenses prior to any reimbursements.
      In
      addition to the reimbursement of expenses listed in this Paragraph, the Bank
      shall pay, or reimburse the Executive, for reasonable initiation fees for trade
      association memberships deemed to be acceptable and appropriate by the Board
      of
      Directors.

     

    5.  Subject
      to the provisions of Paragraph 9
      of this
      Agreement, the Executive shall be entitled to receive employee and dependent
      health insurance, dental insurance, paid sick leave and four (4) weeks of paid
      vacation per year, and any additional benefits provided to all Bank employees.
      The Executive’s receipt of such benefits shall be in accordance with the Bank’s
      employment policies. 

     

    6.  The
      Bank
      also shall provide the Executive with a salary continuation plan, with such
      terms as are approved by Executive and the Board of Directors. 

     

    7.  The
      Bank
      also shall provide the Executive with term life insurance coverage in an initial
      amount not to exceed 200% of the Executive’s base salary, and having a term not
      less than ten years. If, during the term of this Agreement, the Bank adopts
      a
      plan providing life insurance benefits to other Bank employees and the maximum
      coverage under such plan exceeds the maximum permissible coverage provided
      by
      this Paragraph, then notwithstanding the provisions of this Paragraph, the
      Executive shall be entitled to participate in the Bank’s life insurance benefit
      plan to the full extent that it is available to other Bank
      employees.

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    8.  The
      Board
      of Directors or a delegated committee shall review the amount of the Executive’s
      compensation, including his or her base salary, not less than annually and
      shall
      increase such base salary as a result of such review and to provide reasonable
      cost of living adjustments, all in the discretion of the Board of Directors
      or
      such committee and consistent with safe and sound banking practices; provided
      however that the Executive’s base salary, bonuses, vacation and car allowance
      shall not be less than the amounts set forth in Paragraphs 3,
      4,
      and
5
      at any
      time during the term of this Agreement. 

     

    9.  All
      employee benefits provided to the Executive by the Bank incident to the
      Executive’s employment shall be governed by the applicable plan documents,
      summary plan descriptions or employment policies, and may be modified, suspended
      or revoked at any time, in accordance with the terms and provisions of the
      applicable documents.

     

    10.  The
      parties hereto acknowledge that the compensation set forth herein and the other
      covenants and agreements of the Bank contained herein are fair and adequate
      compensation for the Executive’s services and for the covenants of the Executive
      as set forth herein.

     

    C.
        RESPONSIBILITIES

     

    11.  The
      Executive shall be employed as the Chief Executive Officer of the Bank and
      shall
      faithfully devote his or her best efforts and his or her primary focus to his
      or
      her position(s) with the Bank. 

     

    12.  The
      Executive acknowledges and agrees that the duties and responsibilities of the
      Executive are those required of someone in the position as the Chief Executive
      Officer of the Bank, including without limitation, the implementation of the
      business plan prepared as part of the Bank’s applications for a charter and
      deposit insurance. At a minimum, the Executive shall identify and recruit the
      executive management and commercial lending team as well as the other 17-21
      individuals contemplated by the business plan. Such duties are wholly within
      the
      discretion of its Board of Directors, and may be modified, or new duties and
      responsibilities imposed by the Board of Directors, at any time, without the
      approval or consent of the Executive. However, these new duties and
      responsibilities may not constitute immoral or unlawful acts. In addition,
      the
      new duties and responsibilities must be consistent with the Executive’s role as
      the Chief Executive Officer of a financial institution.

     

    13.  The
      Executive acknowledges and agrees that, during the term of this Agreement,
      he or
      she has a fiduciary duty of loyalty to the Bank, and that he or she will not
      engage in any activity during the term of this Agreement, which will or could,
      in any significant way, harm the business, business interests, or reputation
      of
      the Bank or the reputation of the Board of Directors.

     

    14.  The
      Executive shall not directly or indirectly engage in competition with the Bank
      at any time during the existence of the employment relationship between the
      Bank
      and the Executive, and the Executive will not on his or her own behalf, or
      as
      another’s agent or employee, engage in any of the same or similar duties and/or
      Bank-related responsibilities required by the Executive’s position with the
      Bank, other than as an employee of the Bank pursuant to this Agreement or as
      specifically approved by the Board of Directors. In addition, without the prior
      written consent of the Board of Directors, Executive shall not usurp for himself
      or herself any corporate opportunity available to the Bank.

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

    D.
        NONINTERFERENCE

     

    15.  The
      Executive acknowledges that, as part of his or her employment with the Bank,
      he
      or she will become familiar with the salary, pay scale, capabilities,
      experiences, skill and desires of the Bank’s employees. The Executive agrees to
      maintain the confidentiality of such information. The Executive further
      covenants and agrees that, for a period of one year subsequent to the
      termination of this Agreement, whether such termination occurs at the insistence
      of the Bank or the Executive, the Executive shall not recruit, hire, or attempt
      to recruit or hire, directly or by assisting others, any employees of the Bank,
      nor shall the Executive contact or communicate with any employees of the Bank
      for the purpose of inducing such employees of the Bank to terminate their
      employment with the Bank. For purposes of this covenant, “employees of the Bank”
shall refer to employees who are still actively employed by or were employed
      by
      the Bank within the prior year at the time of the attempted recruiting or
      hiring.

     

    16.  In
      his or
      her position of employment, the Executive will be exposed to confidential
      information and trade secrets (hereafter “Proprietary Information”) pertaining
      to, or arising from, the business of the Bank and its affiliates (if any).
      The
      Executive hereby agrees and acknowledges that such Proprietary Information
      is
      unique and valu-able to the Bank’s business and that the Bank would suffer
      irreparable injury if this information were publicly disclosed. Therefore,
      the
      Executive agrees to keep in strict secrecy and confidence, both during and
      after
      the period of his or her employment, any and all Proprietary Information which
      the Executive acquires, or to which the Executive has access, during employment
      by the Bank, that has not been publicly disclosed by the Bank. The Proprietary
      Information covered by this Agreement shall include, but shall not be limited
      to: (i) the identities of the Bank’s existing and prospective customers or
      clients, including names, addresses, credit status, and pricing levels;
      (ii) the buying and selling habits and customs of the Bank’s existing and
      prospective customers or clients; (iii) financial information about the
      Bank; (iv) product and systems specifications, concepts for new or improved
      products and other product or systems data; (v) the identities of, and
      special skills possessed by, the Bank’s employees; (vi) the identities of
      and pricing information about the Bank’s suppliers and vendors;
      (vii) training programs developed by the Bank; (viii) pricing studies,
      information and analyses; (ix) current and prospective products and
      inventories; (x) financial models, business projections and market studies;
      (xi) the Bank’s financial results and business conditions;
      (xii) business plans and strategies; (xiii) special processes,
      procedures, and services of the Bank and its suppliers and vendors; and
      (xiv) computer programs and software developed by the Bank or its
      consultants. The
      provisions and agreements entered into herein shall survive the term of the
      Employee’s employment to the extent reasonably necessary to accomplish their
      purpose in protecting the interests of the Bank in any Proprietary Information
      disclosed to, or learned by, the Executive while employed.

     

    17.  The
      Executive expressly represents that he or she has no agreements with, or
      obligations to, any party which conflict, or may conflict, with the inter-ests
      of the Bank or with the Executive’s duties as an employee of the
      Bank.

     

    18.  The
      Executive acknowledges that the special relationship of trust and confidence
      between him or her, the Bank, and its clients and customers creates a high
      risk
      and opportunity for the Executive to misappropriate the relationship and
      goodwill existing between the Bank and its clients and customers. The Executive
      further acknowledges and agrees that it is fair and reasonable for the Bank
      to
      take steps to protect itself from the risk of such misappropriation. The
      Executive further acknowledges that, at the outset of his or her employment
      with
      the Bank and throughout his or her employment with the Bank, the Executive
      will
      be provided with access to and informed of Proprietary Information, which will
      enable him or her to benefit from the Bank’s goodwill and know-how.

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

     

    19.  The
      Executive acknowledges that it would be inevitable in the performance of his
      or
      her duties as a director, officer, employee, investor, agent or consultant
      of
      any person, association, entity, or company which competes with the Bank, or
      which intends to or may compete with the Bank, to disclose and/or use
      Proprietary Information, as well as to misappropriate the Bank’s goodwill and
      know-how, to or for the benefit of such other person, association, entity,
      or
      company. The Executive also acknowledges that, in exchange for the execution
      of
      the non-solicitation restriction set forth in these NONINTERFERENCE provisions,
      he or she has received substantial, valuable consideration, including:
      (i) confidential trade secret and proprietary information relating to the
      identity and special needs of the Bank’s current and prospective customers, the
      Bank’s current and prospective services, the Bank’s business projections and
      market studies, the Bank’s business plans and strategies, the Bank’s studies and
      information concerning special services unique to the Bank;
      (ii) employment; and (iii) compensation and benefits as described in this
      Agreement. The Executive further acknowledges and agrees that this consideration
      constitutes fair and adequate consideration for the execution of the
      non-solicitation restriction set forth herein.

     

    20.  In
      consideration for the above-recited valuable consideration, as well as to
      protect the vital interests described in these NONINTERFERENCE provisions,
      the
      Executive understands and agrees that during the continuation of this Agreement
      and for a period of one year following the termination of this Agreement by
      either party, for any reason (other than for termination of the Executive for
      circumstances described in Paragraph 25(e),
      below), the Executive will not be or become engaged in any way (directly or
      indirectly), as an individual proprietor, beneficiary, trustee, owner, partner,
      stockholder, officer, director, executive, investor, lender, sales
      representative, or in any other capacity, whatsoever, in any activity or
      endeavor which competes or conflicts with the Bank’s business or the business of
      the Bank or the business of any of their respective affiliates (if any), as
      such
      business has been conducted during the years of the Executive’s employment with
      the Bank, within the cities in which the Bank maintains a banking office. It
      is
      the parties’ desire that these restrictions be enforced to the fullest extent
      allowed by law.

     

    21.  The
      Executive agrees that the restrictions set forth in Paragraph 20
      above
      are ancillary to an otherwise enforceable agreement, are supported by
      independent valuable consideration, and that the limitations as to time,
      geographical area, and scope of activity to be restrained by Paragraph
20
      are
      reasonable and acceptable, and do not impose any greater restraint than is
      reasonably necessary to protect the goodwill and other business interests of
      the
      Bank. The Executive further agrees that such restrictions do not create undue
      hardship for him or her or for the public. The NONINTERFERENCE provisions in
      this Section D are not intended to be construed as a general restraint from
      engaging in a lawful profession or a general covenant against competition.
      Nothing herein will prohibit the Executive’s (i) beneficial ownership of less
      than 5% of the publicly traded capital stock of a corporation listed on a
      national securities exchange so long as this is not a controlling interest,
      or
      (ii) ownership of mutual fund investments. The Executive may not avoid the
      purpose and intent of this paragraph by engaging in conduct within the
      geographically limited area from a remote location through means such as
      telecommunications, written correspondence, computer generated or assisted
      communications, or other similar methods. The Executive agrees that if, at
      some
      later date, a court of competent jurisdiction determines that the
      non-solicitation agreement set forth in this Section D does not meet the
      criteria set forth by applicable law, then such agreement may be reformed by
      the
      court and enforced to the maximum extent permitted under applicable
      law.
      The
Executive
      understands that his or her obligations under this Section D shall not be
      assignable by him or her.

     

    22.  The
      Executive acknowledges that the covenants set forth in these NONINTERFERENCE
      provisions are material conditions to the Bank’s willingness to execute and
      deliver this Agreement and to provide Executive the compensation and benefits
      and other consideration provided hereunder. The parties agree that the existence
      of any claim or cause of action of Executive against the Bank, whether
      predicated on this Agreement or otherwise, will not constitute a defense to
      the
      enforcement by the Bank of such covenants. It is specifically acknowledged
      that
      the periods following the termination of employment stated in Paragraphs
15
      and
20,
      during
      which the agreements and covenants of Executive made in such Paragraphs are
      effective, are to be computed by excluding from such computation any time during
      which Executive is in violation of any provision of Paragraph 15
      or
20.
      The
      covenants contained in these NONINTERFERENCE provisions will not be affected
      by
      any breach of any other provision hereof by any party hereto. In addition,
      Executive’s obligations under these NONINTERFERENCE provisions shall survive the
      termination of this Agreement and Executive’s employment with the Bank.
      Executive’s obligations under these NONINTERFERENCE provisions are in addition
      to, and not in limitation or preemption of, all other obligations of
      confidentiality which he or she may have to Bank under general legal or
      equitable principles, or other the Bank policies.

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

     

    E.
        REMEDIES

     

    23.  In
      the
      event that the Executive violates any of the provisions set forth in this
      Agreement relating to NONINTERFERENCE, Executive acknowledges that the Bank
      would suffer immediate and irreparable harm and would not have an adequate
      remedy at law for money damages. Accordingly, Executive agrees that, without
      the
      necessity of proving actual damages or posting bond or other security, the
      Bank
      shall be entitled to temporary or permanent injunction or injunctions to prevent
      breaches of such performance and to specific enforcement of such covenants
      in
      addition to any other remedy to which the Bank may be entitled, at law or in
      equity. In such a situation, the parties agree that the Bank may pursue any
      remedy available, including declaratory relief, concurrently or consecutively
      in
      any order as to any breach, violation, or threatened breach or violation of
      any
      of the provisions set forth in this Agreement relating to NONINTERFERENCE,
      and
      the pursuit of any particular remedy or remedies shall not be deemed an election
      of remedies or waiver of the right to pursue any other remedy.

     

    F.
        TERMINATION

     

    24.  The
      Board
      of Directors shall be entitled to terminate this Agreement, for any reason,
      by
      providing the Executive with thirty (30) days written notice of the termination.
      However, if this Agreement is terminated by the Bank without Good Cause, as
      defined in this Agreement, the Bank shall provide the Executive with the
      severance set
      forth
      in paragraph 34
      of this
      Agreement. 

     

    25.  For
      purposes of this Agreement,“Good
      Cause” shall be defined as the occurrence of one of the following
      events:

     

    a.  The
      determination by the Board of Directors, in the exercise of its reasonable
      judgment, that Executive has violated any provision of this Agreement or is
      negligent in the performance of his or her duties hereunder, and has failed
      to
      cure such violation or the effects of such negligence within a reasonable period
      after written notice to the Executive by the Bank specifying in reasonable
      detail the alleged violation;

     

    b.  The
      determination by the Board of Directors, in the exercise of its reasonable
      judgment, that (i) Executive has failed to follow the policies adopted by the
      Board of Directors and has failed to cure such failure within a reasonable
      period after written notice to the Executive by the Bank specifying in
      reasonable detail the alleged failure; or (ii) Executive has engaged in such
      actions or omissions that would constitute unsafe or unsound banking
      practices;

     

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

     

    c.  The
      Executive is charged with a misdemeanor involving moral turpitude or a
      felony;

     

    d.  The
      determination by the Board of Directors, in the exercise of its reasonable
      judgment, that the Executive has engaged in gross misconduct in the course
      and
      scope of his or her employment with the Bank including indecency, immorality,
      gross insubordination, dishonesty, unlawful harassment, use of illegal drugs,
      or
      fighting;

     

    e.  The
      determination by the Board of Directors, in the exercise of its reasonable
      judgment and in good faith, that the Executive’s job performance is
      substantially unsatisfactory and that Executive has failed to cure such
      performance within a reasonable period after written notice to the Executive
      by
      the Bank specifying in reasonable detail the nature of the unsatisfactory
      performance; 

     

    f.  The
      Executive is prohibited from engaging in the business of banking by any
      governmental regulatory agency having jurisdiction over the Bank;
      or

     

    g.  The
      Bank
      has entered into a formal administrative action.

     

    26.  Executive
      shall be entitled to terminate this Agreement at any time, for any reason,
      with
      or without cause, by providing thirty (30) days written notice to the Bank.
      The
      effective date of such resignation shall be the 30th
      calendar
      day following the date the notice is given or such other later date as may
      be
      set forth in the notice. Upon Executive’s resignation, Executive shall be
      entitled to receive any base salary which has been earned by him or her through
      the effective date of such resignation.

     

    27.  If
      Executive dies during the term of this Agreement and while in the employ of
      the
      Bank, this Agreement will terminate automatically, without notice, on the date
      of the Executive’s death and the Bank shall not have any further obligation to
      Executive or his or her estate under this Agreement (other than death benefits
      payable under any benefit plans to which Executive is a party), except that
      the
      Bank shall pay Executive’s estate that portion of Executive’s base salary
      accrued through the date on which Executive’s death occurred. To
      the
      maximum extent, and for the term, permitted by the health benefit provisions
      of the Consolidated Omnibus Budget Reconciliation Act (COBRA) of
      1986,
      if
      Executive dies during
      the term of this Agreement and while in the employ of the Bank,
      the Bank
      shall provide or maintain health insurance benefits, at the Bank’s expense, for
      Executive’s spouse.

     

    28.  This
      Agreement will terminate immediately, without notice, in the event the Executive
      is prevented from performing his or her duties hereunder by reason of becoming
      physically or mentally disabled. For purposes of this Agreement, the term
“disabled” shall have the meaning set forth in the Bank’s long-term disability
      plan or, if the Bank has no long-term disability plan in effect at the time
      of
      the Executive’s disability, then “disabled” shall mean that Executive has become
      physically or mentally incapable (excluding infrequent and temporary absences
      due to ordinary illness) of performing the essential functions of his or her
      duties under this Agreement for a continuous period of three (3) months, as
      determined by the Board of Directors upon the advice of a qualified physician.
      In the event a dispute arises between Executive and the Bank concerning
      Executive’s physical or mental ability to continue or return to the performance
      of his or her duties, then Executive shall submit to an examination by a
      competent physician mutually agreeable to the parties. The physician’s opinion
      as to the Executive’s capability to perform his or her duties will be final and
      binding. During any period prior to termination during which the Executive
      fails
      to perform his or her duties as a result of incapacity due to physical or mental
      illness, the Executive shall continue to receive his or her full salary at
      the
      rate then in effect for such period until his or her employment terminates
      pursuant to this Paragraph 28, provided that payments so made to the Executive
      during such period shall be reduced by the sum of the amounts, if any, payable
      to the Executive under any disability benefit plans of the Bank that were not
      previously applied to reduce such payment. 

     

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

     

    In
      the
      event of a termination pursuant to this Section 28, the Bank shall be relieved
      of all its obligations under this Agreement, except that Bank shall pay to
      the
      Executive, or to his or her estate in the event of his or her subsequent death,
      the Executive’s base salary under Paragraph 3(a) through the date on which such
      termination shall have occurred, reduced during such period by the amount of
      any
      benefits received by Executive under any disability policy maintained by the
      Bank and by any death benefits payable under the benefit plans referenced in
      Paragraph 7. All such payments to the Executive or to his or her estate shall
      be
      made in the same manner as other payroll obligations.

     

    29.  Executive
      acknowledges that all memoranda, notes, records, reports, manuals, books,
      papers, letters, client and customer lists, contracts, software programs,
      information and records, drafts of instructions, guides and manuals, and other
      documentation (whether in draft or final form), and other sales or financial
      information and aids relating to the Bank’s business, and any and all other
      documents containing Propriety Information furnished to the Executive by any
      representative of the Bank or otherwise acquired or developed by the Executive
      in connection with his or her duties under this Agreement (collectively, the
      “Recipient Materials”) shall at all times be the property of the Bank. Within
      three calendar days of the termination of this Agreement, the Executive shall
      return to the Bank, all Recipient Materials (including all Proprietary
      Information) that is in his or her possession, custody or control.

     

    30.  The
      provisions of provisions of Paragraphs 15,
      16,
      20-23,
      29-34,
      39,
      43
      and
45
      shall
      survive the termination of this Agreement.

     

    G.
        CHANGE
      OF CONTROL

     

    31.  The
      parties acknowledge that the Executive has agreed to assume the position of
      Chief Executive Officer and to enter into this Agreement based on his or her
      confidence in the current owners of the Bank and the direction of the Bank
      provided by the current Board of Directors. Upon a “Change of Control,” as
      defined below, the Executive may, at his or her option, notify the Bank within
      sixty (60) days following such Change of Control that he or she intends to
      terminate this Agreement based upon the Change of Control.

     

    In
      the
      event that Executive is terminated by the Bank within sixty (60) days following
      such Change of Control for any reason other than for Good Cause, Executive
      shall
      be entitled to elect to receive as severance the lump sum amount determined
      pursuant to Paragraph 32
      upon
      written notice to the Bank, in which case the severance provisions of Paragraph
      34
      shall
      not apply.

     

    32.  In
      the
      event that the Executive elects to terminate this Agreement based upon the
      Change of Control, the Bank shall pay to the Executive, within thirty (30)
      days
      of Bank’s receipt of a notice of the Executive’s election to terminate this
      Agreement, a cash lump sum payment equal to 1.99 times his or her Base Amount
      as
      defined in section 280G(b)(3) of the Internal Revenue Code of 1986, as amended
      (“Code”).

     

    In
      the
      event that any compensation payable under this Agreement is determined to be
      a
“parachute payment” subject to the excise tax imposed by Section 4999 of the
      Code or any successor provision (the “Excise Tax”), the Bank agrees to pay to
      the Executive an additional sum (the “Gross Up”) in an amount such that the net
      amount retained by the Executive, after receiving both the payment and the
      Gross
      Up and after paying: (i) any Excise Tax on the payment and the Gross Up, and
      (ii) any federal, state, and local income taxes on the Gross Up, is equal to
      the
      amount of the payment.

     

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

    

     

    For
      purposes of determining the Gross Up, the Executive shall be deemed to pay
      federal, state, and local income taxes at the highest marginal rate of taxation
      in his or her filing status for the calendar year in which the payment is to
      be
      made based upon the Executive’s domicile on the date of the event that triggers
      the Excise Tax. The determination of whether such Excise Tax is payable and
      the
      amount of such Excise Tax shall be based upon the opinion of tax counsel
      selected by the Bank, subject to the reasonable approval of the Executive.
      If
      such opinion is not finally accepted by the Internal Revenue Service, then
      appropriate adjustments shall be calculated (with additional Gross Up determined
      based on the principals outlined in the previous paragraph, if applicable)
      by
      such tax counsel based upon the final amount of Excise Tax so determined
      together with any applicable penalties and interest. The final amount shall
      be
      paid, if applicable, within thirty (30) days after such calculations are
      completed, but in no event later than April 1st
      of the
      year following the event that triggers the Excise Tax. Such compensation shall
      be payable in equal disbursements in accordance with the Bank’s ordinary payroll
      policies and procedures.

     

    33.  As
      used
      in this Agreement, a “Change of Control” shall be deemed to have occurred in
      each of the following instances:

     

    a.  A
      reorganization, merger, consolidation or other corporate transaction involving
      the Bank, in each case, with respect to which the shareholders of the Bank,
      immediately prior to such transaction do not, immediately after the transaction,
      own more than fifty percent (50%) of the combined voting power of the
      reorganized, merged or consolidated bank’s then outstanding voting securities;
      provided, however that a Change of Control shall not be deemed to have occurred
      upon the formation of a holding company for the Bank if each shareholder of
      the
      Bank immediately prior to the formation of the holding company retains
      substantially the same percentage ownership of the holding company following
      such formation as he or she owned of the Bank prior the formation.

     

    b.  The
      sale,
      transfer or assignment of all or substantially all of the assets of the Bank
      to
      any third party.

     

    c.  The
      acquisition by any individual, entity or “group,” within the meaning of Section
      13(d)(3) or Section 14(d)(2) of the Exchange Act (a “Person”), of beneficial
      ownership (within the meaning of Rule 13d-3 promulgated under the Exchange
      Act)
      of voting securities of the Bank where such acquisition causes any such Person
      to own twenty percent (20%) or more of the combined voting power of the Bank’s
      then outstanding capital stock then entitled to vote generally in the election
      of directors; provided however, that a Change of Control shall not be deemed
      to
      have occurred if a Person becomes the beneficial owner of twenty percent of
      the
      combined voting power of the Bank’s then outstanding capital stock solely as a
      result of the repurchase of voting securities by the Bank.

     

    d.  During
      any period of two consecutive years, the persons who were directors of the
      Bank
      immediately before the beginning of the two year period (the “Incumbent
      Directors”) shall cease to constitute at least a majority of the Board of
      Directors; provided that any individual becoming a director subsequent to the
      beginning of such two year period whose election, or nomination for election
      by
      the Bank’s shareholders, was approved by at least two-thirds of the directors
      then comprising the Incumbent Directors shall be considered as though such
      individual were an Incumbent Director unless such individual’s initial
      assumption of office occurs as a result of either an actual or threatened
      election contest (as such terms are used in Rule 14a-11 of Regulation 14A
      promulgated under the Exchange Act).

     

    
      
        
        

      

      
        9

        
          

        

      

      
        
        

      

    

     

    Notwithstanding
      anything contained herein to the contrary, if Executive’s employment is
      terminated and he or she reasonably demonstrates that such termination was
      at
      the request of a third party who has indicated an intention of taking steps
      reasonably calculated to effect a Change of Control and who effects a Change
      of
      Control, or such termination otherwise occurred in connection with, or in
      anticipation of, a Change of Control which later actually occurs, then for
      all
      purposes hereof, a Change of Control shall be deemed to have occurred on the
      day
      immediately prior to the date of such termination of his or her
      employment.

     

    H.
        SEVERANCE

     

    34.  Except
      as
      otherwise expressly provided herein, if Bank terminates Executive’s employment
      for any reason other than Good Cause (as defined in this Agreement), then
      Executive shall be entitled to severance pay in an amount not less than the
      base
      salary that would have been due the Executive had he or she remained employed
      for twelve (12) months following termination. In the event that the Executive
      is
      entitled to any payment under Section G, above, no payment shall be due under
      this Section H.
      Any
      severance pay due to Executive pursuant to this Section H shall be paid in
      accordance with the terms of normal payroll procedure of the Bank.

     

    I.
        SEVERABILITY

     

    35.  If
      any
      term or other provision of this Agreement is held to be illegal, invalid or
      unenforceable by any rule of law or public policy: (A) such term or provision
      shall be fully severable and this Agreement shall be construed and enforced
      as
      if such illegal, invalid or unenforceable provision were not a part hereof;
      (B)
      the remaining provisions of this Agreement shall remain in full force and effect
      and shall not be affected by such illegal, invalid or unenforceable provision
      or
      by its severance from this Agreement; and (C) there shall be added automatically
      as a part of this Agreement a provision as similar in terms to such illegal,
      invalid or unenforceable provision as may be possible and still be legal, valid
      and enforceable.
      If any
      provision of this Agreement is so broad as to be unenforceable, the provision
      shall be interpreted to be only as broad as is enforceable.

     

    J.
        WAIVER

     

    36.  The
      parties acknowledge and agree that the failure of either party to enforce any
      provision of this Agreement shall not constitute a waiver of that particular
      provision, or of any other provisions of this Agreement.

     

    K.
        SUCCESSORS
      AND ASSIGNS

     

    37.  The
      Executive acknowledges and agrees that this Agreement may be assigned by the
      Bank to any successor-in-interest and shall inure to the benefit of, and be
      fully enforceable by, any successor and/or assignee; and this Agreement will
      be
      fully binding upon, and may be enforced by the Executive against, any successor
      and/or assignee of the Bank.

     

    38.  The
      Executive acknowledges and agrees that his or her obligations, duties and
      responsibilities under this Agreement are personal and shall not be assignable,
      and that this Agreement shall be enforceable by the Executive only. In the
      event
      of the Executive’s death, this Agreement shall be enforceable by the Executive’s
      estate, executors and/or legal representatives, only to the extent provided
      herein.

     

    
      
        
        

      

      
        10

        
          

        

      

      
        
        

      

    

     

    L.
        CHOICE
      OF LAW

     

    39.  THIS
      AGREEMENT SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH, AND ALL QUESTIONS
      CONCERNING THE CONSTRUCTION, VALIDITY, INTERPRETATION AND PERFORMANCE OF THIS
      AGREEMENT SHALL BE GOVERNED BY, THE LAWS OF THE STATE OF MICHIGAN, WITHOUT
      GIVING EFFECT TO PROVISION THEREOF REGARDING CONFLICT OF LAWS. IT IS STIPULATED
      THAT MICHIGAN HAS A COMPELLING STATE INTEREST IN THE SUBJECT MATTER OF THIS
      AGREEMENT, AND THAT THE EXECUTIVE HAS OR WILL HAVE REGULAR CONTACT WITH THE
      STATE OF MICHIGAN IN THE PERFORMANCE OF THIS AGREEMENT.

     

    M.
        MODIFICATION

     

    40.  The
      parties acknowledge and agree that this Agreement and the other agreements
      and
      plans referenced herein constitute the complete and entire agreement between
      the
      parties; that each executed this Agreement based upon the express terms and
      provisions set forth herein; that, in accepting employment with the Bank, the
      Executive has not relied on any representations, oral or written, which are
      not
      set forth in this Agreement; that no previous agreement, either oral or written,
      shall have any effect on the terms or provisions of this Agreement; and that
      all
      previous agreements, either oral or written, are expressly superseded and
      revoked by this Agreement. No waiver shall be deemed a continuing waiver or
      a
      waiver of any subsequent breach or default, either of a similar or different
      nature, unless expressly so stated in writing. 

     

    41.  Except
      as
      otherwise expressly provided in this Agreement, no conditions, usage of trade,
      course of dealing or performance, understanding or agreement purporting to
      modify, vary, explain or supplement the terms or conditions of this Agreement
      unless hereafter made (i) in
      writing, (ii) referencing an express provision in this Agreement,
      (iii) signed by the party to be bound, , and (iv) in the case of the
      Bank, approved by a disinterested majority of the Board of
      Directors.

     

    N.
        INDEMNIFICATION

     

    42.  During
      the term of this Agreement, the Bank shall indemnify the Executive against
      all
      judgments, penalties, fines, amounts paid in settlement and reasonable expenses
      (including, but not limited to, attorneys’ fees) relating to his or her
      employment by the Bank to the fullest extent permissible under the law,
      including, without limitation, federal and/or state banking laws and
      regulations, the Michigan Finance Code, as amended, the Michigan Business
      Organization Code, as amended, and the Bank’s Articles of Incorporation. To the
      extent permitted by law, the Bank may purchase such indemnification insurance
      as
      the Board of Directors may from time to time determine.

     

    O.
        ARBITRATION

     

    43.  Any
      dispute, controversy, or claim arising out of or relating to this Agreement
      or
      breach thereof, or arising out of or relating in any way to the employment
      of
      the Executive or the termination thereof, shall be submitted to arbitration
      in
      accordance with the Employment Dispute Arbitration Rules of the American
      Arbitration Association. Judgment upon the award rendered by the arbitrator
      may
      be entered in any court of competent jurisdiction. In reaching his or her
      decision, the arbitrator shall have no authority to ignore, change, modify,
      add
      to or delete from any provision of this Agreement, but instead is limited to
      interpreting this Agreement. Notwithstanding the arbitration provisions set
      forth in this Agreement, the Executive and the Bank acknowledge and agree that
      nothing in this Agreement shall be construed to require the arbitration of
      any
      claim or controversy arising under the NONINTERFERENCE provisions of this
      Agreement. These provisions shall be enforceable by any court of competent
      jurisdiction and shall not be subject to this Paragraph of the Agreement. The
      Executive and the Bank further acknowledge and agree that nothing in this
      Agreement shall be construed to require arbitration of any claim for workers’
compensation or unemployment compensation.

     

    
      
        
        

      

      
        11

        
          

        

      

      
        
        

      

    

     

    P.
        LEGAL
      CONSULTATION

     

    44.  Each
      party acknowledges that it has carefully read this Agreement, that it has had
      an
      opportunity to consult with his, her or its attorney concerning the meaning,
      import and legal significance of this Agreement, that it understands the terms
      of the Agreement, that all understandings and agreements between Executive
      and
      the Bank relating to the subjects covered in this Agreement are contained in
      it,
      and that it has entered into the Agreement voluntarily and not in reliance
      on
      any promises or representations by the other than those contained in this
      Agreement. 

     

    Q.
        MISCELLANEOUS

     

    45.  The
      Executive shall make himself or herself available, upon the request of the
      Bank,
      to testify or otherwise assist in litigation, arbitration, or other disputes
      involving the Bank, or any of the directors, officers, employees, subsidiaries,
      or parent corporations of either, at no additional cost during the term of
      this
      Agreement and at any time following the termination of this
      Agreement.

     

    46.  The
      Executive shall not be required to mitigate the amount of any payment provided
      for in this Agreement by seeking other employment or otherwise, nor shall the
      amount of any payment provided for in this Agreement be reduced by any
      compensation earned by the Executive as the result of employment by another
      employer after the date of termination, or otherwise.

     

    47.  In
      the
      event either party institutes arbitration or litigation to enforce or protect
      its rights under this Agreement, the prevailing party in such arbitration or
      litigation shall be entitled, in addition to all other relief, to reasonable
      attorneys fees, out-of-pocket costs, disbursements, and arbitrator’s fees
      relating to such arbitration or litigation.

     

    48.  This
      Agreement may be executed simultaneously in two or more counterparts, each
      of
      which shall be deemed an original, but all of which shall together constitute
      one and the same Agreement.

     

    49.  The
      Bank
      shall have no obligation to set aside, earmark or entrust any fund or money
      with
      which to pay its obligations under this Agreement. The Executive or any
      successor-in-interest to the Executive shall be and remain simply a general
      creditor of the Bank in the same manner as any other creditor having a general
      unsecured claim. For purposes of the Code, the Bank intends this Agreement
      to be
      an unfunded, unsecured promise to pay on the part of the Bank. For purposes
      of
      Employee Retirement Income Security Act of 1974, as amended (“ERISA”), the Bank
      intends that this Agreement not be subject to ERISA. If it is deemed subject
      to
      ERISA, it is intended to be an unfunded arrangement for the benefit of a select
      member of management, who is a highly compensated employee of the Bank for
      the
      purpose of qualifying this Agreement for the “top hat” plan exception under
      sections 201(2), 301(a)(3) and 401(a)(1) of ERISA. At no time shall the
      Executive have or be deemed to have any lien nor right, title or interest in
      or
      to any specific investment or to any assets of the Bank. If the Bank elects
      to
      invest in a life insurance, disability or annuity policy upon the life of the
      Executive, then the Executive shall assist the Bank by freely submitting to
      a
      physical examination and supplying such additional information necessary to
      obtain such insurance or annuities.

     

    
      
        
        

      

      
        12

        
          

        

      

      
        
        

      

    

     

    50.  When
      a
      reference is made in this Agreement to a Paragraph or a Section, such references
      shall be to a Paragraph or a Section of this Agreement unless otherwise
      indicated. The headings contained
      in this Agreement are for convenience of reference only and shall not affect
      in
      any way the meaning or interpretation of this Agreement. Whenever the words
      “include,” “includes” or “including” are used in this Agreement, they shall be
      deemed to be followed by the words “without limitation.” The words “hereof,”
“herein” and “hereunder” and words of similar import when used in this Agreement
      shall refer to this Agreement as a whole and not to any particular provision
      in
      this Agreement. Each use herein of the masculine, neuter or feminine gender
      shall be deemed to include the other genders.
      Each
      use
      herein of the plural shall include the singular and
      vice
      versa, in each case as the context requires or as is otherwise appropriate.
      The
      word “or” is used in the inclusive sense. Any agreement or instrument defined or
      referred to herein or in any agreement or instrument that is referred to herein
      means such agreement or instrument as from time to time amended, modified or
      supplemented, including by waiver or consent.
      References to a person are also to its permitted successors or
      assigns.

     

    51.  Executive
      represents that his or her service as an employee of the Bank will not violate
      any agreement: (i) he or she has made that prohibits him or her from disclosing
      any information he or she acquired prior to him or her becoming employed by
      the
      Bank; or (ii) he or she has made that prohibits him or her from accepting
      employment with the Bank or that will interfere with his or her compliance
      with
      the terms of this Agreement. Executive further represents that he or she has
      not
      previously, and will not in the future, disclose to Bank any proprietary
      information or trade secrets belonging to any previous employer. Executive
      acknowledges that the Bank has instructed him or her not to disclose to it
      any
      proprietary information or trade secrets belonging to any previous
      employer.

     

    R.
        NOTICES

     

    52.  All
      notices and other communications required or permitted to be given or delivered
      hereunder or by reason of the provisions of this Agreement shall be in writing
      and shall be deemed to have been given properly if (a) delivered personally,
      (b)
      delivered by a recognized overnight courier service, (c) sent by United States
      mail, postage prepaid, or (d) sent by facsimile transmission followed by a
      confirmation copy delivered by recognized overnight courier service the next
      day. Such notices, requests, consents and other communications shall be sent
      to
      the respective parties as follows (or at such other address for a party as
      shall
      be specified by like notice to the other party):

     

    
      	 	If to the Bank:	 
	 	 	 
	 	Grand River Bank	 
	 	4471 Wilson Avenue	 
	 	Grandville, MI 48418	 
	 	Attention: Robert P. Bilotti,
              Chairman	 
	 	 	 
	 	 	 
	 	If to Executive:	 
	 	 	 
	 	David H. Blossey	 
	 	                                             	 
	 	                                             	 

    

    

    53.  Any
      notice or other communication given pursuant to this Agreement shall be
      effective (i) in the case of personal delivery, telex or facsimile transmission,
      when received; (ii) in the case of mail, upon the earlier of actual receipt
      or
      five (5) business days after deposit with the United States Postal Service,
      first class certified or registered mail, postage prepaid, return receipt
      requested; and (iii) in the case of a recognized overnight courier service,
      one
      (1) business day after delivery to the courier service together with all
      appropriate fees or charges and instructions for overnight delivery.

     

    [signature
      page follows]

     

    
      
        
        

      

      
        13

        
          

        

      

      
        
        

      

    

     

    [signature
      page to Employment Agreement] 

     

    

     

    EXECUTED
      AS OF THE DATE FIRST WRITTEN ABOVE IN _________________________,
      _____________.

     

     

    
      
        	 	EXECUTIVE	 
	 	 	 
	                                             	                                                                                	 
	WITNESS	David
                H. Blossey	 
	 	 	 
	 	 	 
	 	GRAND COMMERCE
                BANK	 
	 	 	 
	 	 	 
	                                                             
                	By:                                                                          	 
	WITNESS	     
                	 
	 	Name:                                                                          	 
	 	 	 
	 	Title:                                                                          	 
	 	 	 

      

    

     

    
      
        
        

      

      
        14

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