Document:

Consulting Agreement dated 8/7/06 (Hanna)

 Exhibit 10.2 
 

 
 EMPLOYMENT AGREEMENT 
 This Employment Agreement (this “Agreement”) is entered into this 7th day of August, 2006 (the “Effective Date”), by and between Richard Hanna
(“Employee”), an individual, and Motive, Inc., a Delaware corporation (“Motive”). In consideration of the mutual promises expressed herein, Employee and Motive have agreed to the following terms and
conditions. 
 1. EFFECTIVE DATE AND TERM. This Agreement will be effective as of
the Effective Date, and will remain in effect for a term of one year, unless earlier terminated in accordance with Section 4 or Section 5. Continued employment beyond the one-year term of this Agreement will not result in automatic renewal
of this Agreement. Rather, to renew this Agreement, Motive and Employee must state their intention to renew this Agreement in writing signed by both Motive and Employee. 
 2. DUTIES. Motive agrees to employ Employee as its Chief Operating Officer or in such other capacity as Motive may require. Employee agrees to continue to work for Motive as its Chief Operating Officer
or in such other capacity as Motive may require and to perform the duties normally associated with that position and such other duties as Motive may assign to Employee. Employee agrees that Employee will abide by all of Motive’s policies,
procedures, and directives as may be adopted, modified, or issued by Motive from time to time. 
 3. COMPENSATION
AND BENEFITS. While Employee is actively employed by Motive pursuant to this Agreement, Employee will be entitled to the following compensation and benefits: 
 (a) Base Salary. Motive will pay Employee a Base Salary (“Base Salary”) at a monthly rate of $22,916.67 ($275,000
annually), less applicable withholdings and deductions. Employee’s Base Salary shall be subject to review and potential adjustment, as determined by Motive. Base Salary shall not include any payment or other benefit which is denominated as or
is in the nature of a bonus, incentive payment, profit-sharing payment, retirement or pension accrual, insurance benefit, other fringe benefit or expense allowance, whether or not taxable to Employee as income. The term Base Salary shall include any
increase therein for the purposes of this agreement. 
 (b) Vacation. Employee shall accrue vacation commensurate with Employee’s
position. The accrual and carry-over (if any) of Employee’s vacation shall be in accordance with Motive’s regular vacation accrual practices, as such practices are adopted, modified, or implemented from time to time. 
 (c) Benefits. Subject to applicable eligibility requirements, Employee shall be invited to participate in the same benefit plans or fringe benefit
policies that are generally available to any of its senior level executive employees. 
 (d) Bonuses. Employee shall be eligible to
receive an annual Target Bonus of up to $137,500, less applicable withholdings and deductions (the “Target Bonus), based on the achievement of individual and company performance objectives which shall be established by Motive or
its Board of Directors. 
 (e) Stock Options. In connection with the execution of this Agreement, Motive is granting to Employee
200,000 stock options according to Motive’s Amended and Restated Equity Incentive Plan. Employee shall acquire a vested interest in twelve (12) equal quarterly installments, commencing on September 30, 2006 and continuing thereafter
on each succeeding December 31st, March 31st, June 30th and
September 30th; provided, however, that the stock shall vest automatically and entirely upon a
Change in Control. This stock option grant, and any other stock options or restricted stock granted to Employee, shall be governed by the terms of the agreement accompanying the grant, Motive’s Amended and Restated Equity Incentive Plan, and
other applicable plan documents. 
 (f) Directors’ and Officers’ Insurance Coverage. Employee shall have the benefit of such
directors’ and officers’ insurance coverage as Motive shall from time to time obtain, but in no event less than that provided to any other director or officer of Motive. 

 (g) Expenses. In addition to reimbursement of business expenses in accordance with Motive’s
policies, Motive shall reimburse Employee for the following: 
 (i) Weekly roundtrip airfare and travel expenses from the
metropolitan Washington, DC area to Austin, Texas; 
 (ii) Temporary living expenses for 6 months from the Effective Date
including housing, car rental, and meals. 
 In the event the reimbursement of expenses described in (i) and (ii) above are deemed
taxable to Employee, then such reimbursements shall be “grossed up” by Motive so as to have a neutral after tax impact to Employee. 
 4. TERMINATION. This Agreement and Employee’s employment may be terminated by either party at any time and for any reason, subject to the following provisions: 
 (a) Termination by Employee. Employee agrees that if Employee intends to terminate this Agreement or Employee’s employment for any reason,
Employee will give Motive at least 30 days’ advance written notice of such termination. 
 (i) If Employee terminates Employee’s
employment and this Agreement for Good Reason and gives Motive the requisite notice of termination, and subsequently executes (within a reasonable period of time) a mutually agreeable release, Motive shall pay Employee severance in accordance with
the terms of Section 4(c). 
 (ii) If Employee terminates Employee’s employment and this Agreement but does not satisfy any or all
of the other conditions of Section 4(a)(i) above for any reason, Employee shall only be entitled to receive payment for Employee’s Base Salary (less applicable deductions and withholdings) through the actual date this Agreement is
terminated and payment for unused vacation (less applicable deductions and withholdings) that has accrued as of the actual date this Agreement is terminated and shall not be entitled to receive any other payment from Motive of any kind under this
Agreement or otherwise. 
 (iii) Notwithstanding the provision for payment in a lump sum in Section 4©, any severance payment due to Employee’s termination of employment for
Good Reason shall be delayed until the date that is six months after the date of separation from service with Motive, unless an immediate payment is permitted pursuant to regulations issued pursuant to section 409A of the Internal Revenue Code of
1986, as amended. Interest (at the prime rate) shall be paid on any amount deferred past Employee’s date of termination in accordance with this clause (iii). 
 (b) Termination by Motive. Motive may terminate this Agreement and Employee’s employment at any time, with or without Cause and with or without notice. 
 (i) If Motive terminates Employee’s employment and this Agreement without Cause and Employee subsequently executes (within a reasonable period of
time) a mutually agreeable release, Motive shall pay Employee severance in accordance with the terms of Section 4(c) below. 
 (ii)
Notwithstanding any other provision of this Agreement, Motive may terminate this Agreement and Employee’s employment for Cause without advance notice, payment, or penalty of any kind. In such a case, Employee shall only be entitled to receive
payment for Base Salary (less applicable deductions and withholdings) through the actual date this Agreement is terminated and shall not be entitled to receive any further payment of any kind from Motive under this Agreement or otherwise.

 (c) Severance. If Motive is required to pay Employee severance by the express terms of
Section 4(a)(i) or 4(b)(i) above, Motive shall pay to Employee in a lump sum an amount equal to 
 (i) Employee’s aggregate Base
Salary, less applicable withholdings and deductions, for a period of six months, or for a period equal to the number of months remaining in the term of this Agreement, whichever is greater; plus 
 (ii) A prorated portion of Employee’s Target Bonus based upon the number of full calendar quarters that Employee was actively employed during the
year of termination and assuming for purposes thereof that full achievement of all performance targets or metrics were met by both Employee and Motive during such year. 
 Employee understands and agrees that Motive shall not be obligated to pay Employee severance of any kind except as required by Section 4(a)(i) or 4(b)(i) and as described in this Section 4(c) and Section
(5). 
 (d) Release Required. Employee understands that, notwithstanding any other provision of this Agreement, if Employee does not
execute a mutually agreeable, fully enforceable release, Employee shall not be entitled to any severance payment of any kind following the termination of this Agreement or Employee’s employment for any reason. 
 (e) Good Reason. For purposes of this Agreement, “Good Reason” exists if: 
 (i) Motive (or its successor) relocates Employee’s primary work location by more than fifty (50) miles, such that Employee is required to
relocate Employee’s permanent residence to continue rendering duties under this Agreement, and Employee does not consent to such relocation; 
 (ii) Motive (or its successor) reduces (1) Employee’s Base Salary or (2) the maximum Target Bonus, without Employee’s written consent. 
 (iii) Motive (or its successor) prevents Employee from participating in the same benefit plans or fringe benefit policies in which other similarly situated, Employee-level employees of Motive (or its successor)
are invited to participate, subject to applicable eligibility requirements; or 
 (iv) Motive (or its successor) requires Employee to
devote the majority of Employee’s time to the performance of duties that are materially and substantially inconsistent with the status of Employee’s position with Motive, Employee provides the Board with written notice of Employee’s
objection to said duties within thirty (30) days of said duties being required of Employee, and Motive fails to cure the problem within thirty (30) days of the date the Board receives Employee’s written notice; 
 (v) Any material breach of this Agreement by Motive, provided that Employee provides the Board with written notice of such breach, and Motive
fails to cure such breach within thirty (30) days of the date the Board receives Employee’s written notice. 
 (f) Cause.
For purposes of this Agreement, “Cause” exists if: 
 (i) Employee is determined by Motive’s Board of
Directors (or the Compensation Committee thereof) to have engaged in any act of misconduct, including but not limited to drunkenness, dishonesty, repeated absenteeism without good cause, or sexual, racial or age discrimination, during the course and
scope of his employment with Motive which resulted in injury to the business, reputation or goodwill of Motive; 
 (ii) Employee is
determined by Motive’s Board of Directors (or the Compensation Committee thereof) to have willfully failed to attend to his duties under this Agreement; 

 (iii) Employee is determined by Motive’s Board of Directors (or the Compensation Committee thereof)
to have breached his fiduciary duties to Motive or to have committed any act of fraud or embezzlement against Motive; 
 (iv) Employee
pleads guilty to or is convicted of any crime involving moral turpitude; or 
 (v) any breach or breaches of this Agreement by Employee
occurs, which breaches are (1) singularly or in the aggregate, material, and (2) not cured within 15 days of written notice of such breach or breaches to Employee from Motive. 
 (g) Cooperation. Upon the termination of Employee’s employment for any reason, Employee agrees to cooperate with Motive in transitioning
Employee’s responsibilities and duties as directed by Motive. 
 (h) Death. In the event Employee dies, this Agreement shall
terminate as of the end of the month during which his death occurs, with no obligation for payment of any additional amounts. 
 (i)
Disability. If Employee, due to physical or mental illness, becomes so disabled as to be unable to perform substantially all of Employee’s duties for a continuous period of four months, either party may by notice terminate
Employee’s employment effective as of the last day of the calendar month during which such notice is given, with no obligation for payment of any additional amounts. 
 5. CHANGE IN CONTROL SEVERANCE BENEFITS. 
 (a) Change in Control. For purposes of this Agreement, a “Change in Control” shall mean: 
 (i) The
consummation of a merger or consolidation of Motive with or into another entity or any other corporate reorganization, if persons who were not stockholders of Motive immediately prior to such merger, consolidation or other reorganization
beneficially own immediately after such merger, consolidation or other reorganization 50% or more of the voting power of the outstanding securities of each of (1) the continuing or surviving entity and (2) any direct or indirect parent
corporation of such continuing or surviving entity; or 
 (ii) The sale, transfer or other disposition of all or substantially all of Motive
assets; or 
 (iii) A change in the composition of the Board of Motive, as a result of which fewer than 50% of the incumbent directors are
directors who either (1) had been directors of Motive on the date 12 months prior to the date of the event that may constitute a Change in Control (the “original directors”) or (2) were elected, or nominated for
election, to the Board with the affirmative votes of at least a majority of the aggregate of the original directors who were still in office at the time of the election or nomination and the directors whose election or nomination was previously so
approved; or 
 (iv) Any transaction as a result of which any person is the “beneficial owner” (as defined in Rule 13d-3 under
the Exchange Act), directly or indirectly, of securities of Motive representing at least 50% of the total voting power represented by Motive’s then outstanding voting securities. For purposes of this Paragraph (d), the term
“person” shall have the same meaning as when used in Sections 13(d) and 14(d) of the Exchange Act but shall exclude (1) a trustee or other fiduciary holding securities under an employee benefit plan of the Company or of a Parent
or Subsidiary and (2) a corporation owned directly or indirectly by the stockholders of the Company in substantially the same proportions as their ownership of the Common Shares of the Company. 
 A transaction shall not constitute a Change in Control if its sole purpose is to change the state of the Company’s incorporation or to create a
holding company that will be owned in substantially the same proportions by the persons who held Motive’s securities immediately before such transaction. 

 (b) Immediately following a Change in Control, in lieu of any severance payments described in
Section 4(c), Motive shall pay to Employee, contingent on Employee signing a Release, a lump-sum amount equal to: 
 (i) Employee’s
aggregate Base Salary, less applicable withholdings and deductions, for a period of six months, or for a period equal to the number of months remaining in the term of this Agreement, whichever is greater; plus 
 (ii) Employee’s Target Bonus for the year of termination assuming for purposes thereof that full achievement of all performance targets or metrics
were met by both Employee and Motive during such year. 
 6. Employee Warranties and Indemnity. 
 (a) No Conflict. Employee represents and warrants that Employee is free to enter into the terms of this Agreement and that Employee has no
obligations to any other legal entity or otherwise that are inconsistent with any of its provisions. 
 (b) No Disclosure, Misuse, or
Removal. Employee further represents and warrants that Employee: 
 (i) has not and will not disclose to Motive any confidential
business information or trade secrets belonging to any other legal entity; 
 (ii) will not and does not intend to use any confidential
business information or trade secrets belonging to any other legal entity in connection with Employee’s employment with Motive; and 
 (iii) has not removed any books, papers, or records belonging to any other legal entity, including, without limitation, any documents containing any confidential business information, business plans, confidential customer information,
or confidential or proprietary information about any other legal entity’s products or services. 
 (c) Indemnification. Employee
further agrees that in the event of a breach of the foregoing representations and warranties, Employee will indemnify Motive for any and all liability and losses including, without limitation, damages payable to third parties, consequential losses,
lost profits, costs and attorneys’ fees, that Motive may incur as a result of such breach. 
 7. ARBITRATION. Motive and
Employee expressly agree that any dispute between them arising out of or relating to this Agreement or its termination or any other aspect of Employee’s relationship with Motive or the termination of that relationship (including any contract or
tort claims, or claimed violations of statute) shall be settled by binding arbitration administered by the American Arbitration Association under its National Rules for the Resolution of Employment Disputes, and judgment upon the award rendered by
the arbitrator(s) may be entered in any court with jurisdiction. The terms of this Section 6 survive the termination of this Agreement by either party for any reason. 
 8. MISCELLANEOUS 
 (a) Entire Agreement. This Agreement embodies the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior agreements and understandings, if any, between the parties regarding the
subject matter hereof. To the extent there is any conflict between the provisions of this Agreement and any of Motive’s personnel and/or payroll policies, the terms of this Agreement shall control. 
 (b) Modification. Both parties agree that neither has the authority to modify or amend this Agreement unless the modification or amendment is in
writing and signed by both of them. 

 (c) Notice To Employee. Notice to Employee shall have occurred and be effective when:
(i) Employee receives actual notice, whether in writing or otherwise; and/or (ii) when a written notice is mailed via certified mail to Employee’s then-current address as reflected in Motive’s records. 
 (d) Notice To Motive. Notice to Motive shall have occurred and be effective when: (i) the Board receives written notice; and/or
(ii) when a written notice is delivered via certified mail to Motive’s then-current address. 
 (e) Severability. If any
provision of this Agreement is declared or found to be illegal, unenforceable or void, the remainder of this Agreement shall remain valid and enforceable to the extent feasible. 
 (f) No Waiver. Any waiver of any term of this Agreement by Motive shall not operate as a waiver of any other term of this Agreement, nor shall any
failure to enforce any provision of this Agreement operate as a waiver of Motive’s right to enforce any other provision of this Agreement. 
 (g) Successors. Employee’s obligations under the Agreement will be binding upon Employee’s heirs, executors, assigns, and administrators and will insure to the benefit of Motive, its subsidiaries, successors, and assigns.

 (h) Survival. Employee’s obligations under this Agreement will be binding upon Employee’s heirs, executors, assigns, and
administrators and will inure to the benefit of Motive, its subsidiaries, successors, and assigns. 
 (i) Proper Construction. The
language of all parts of this Agreement shall in all cases be construed as a whole according to its fair meaning, and not strictly for or against any of the parties. Moreover, the paragraph headings used in this Agreement are intended solely for
convenience of reference and shall not in any manner amplify, limit, modify or otherwise be used in the interpretation of any of the provisions hereof. 
 9. CHOICE OF LAW AND VENUE. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE SUBSTANTIVE LAWS OF THE STATE OF TEXAS. BOTH PARTIES EXPRESSLY CONSENT TO THE JURISDICTION OF THE STATE AND
FEDERAL COURTS LOCATED IN TEXAS. THE PARTIES FURTHER AGREE THAT THE EXCLUSIVE VENUE FOR THE RESOLUTION OF ANY DISPUTE RELATING TO THE SUBJECT MATTER OF THIS AGREEMENT SHALL BE IN THE STATE AND FEDERAL COURTS LOCATED IN TRAVIS COUNTY, TEXAS.

 IN WITNESS WHEREOF, Employee and Motive have executed this Agreement as of the Effective Date: 
  

							
	MOTIVE:	 	EMPLOYEE:
				
	By:	 	 /s/ Alfred T. Mockett
	 	By:	 	 /s/ Richard Hanna

	Printed Name:	 	Alfred T. Mockett	 	Printed Name:	 	Richard Hanna
	Title:	 	Chairman and CEOForm of Stock Option Agreement for non-qualified stock options

 EXHIBIT 10.3 
 MACATAWA BANK CORPORATION 
 2006 STOCK COMPENSATION PLAN 
 STOCK OPTION AGREEMENT 
 (Nonqualified
Stock Option) 
 This STOCK OPTION AGREEMENT is made this {Date}, between MACATAWA BANK CORPORATION (the
“Company”) and employee name, an employee of the Company or one of its subsidiaries (the “Employee”), pursuant to the Macatawa Bank Corporation 2006 Stock Compensation Plan (the “Plan”). All capitalized defined
terms in this Agreement shall have the meaning ascribed to such terms in the Plan, unless other wise defined in this Agreement. 
 IT IS
AGREED AS FOLLOWS: 
 1. Grant of Option. Pursuant to the Plan, the Company hereby grants to the Employee the option to purchase
[Number of Shares] shares of the Company’s common stock, no par value, on the terms and conditions herein set forth (the “Option”). All of the shares covered by this Option shall be considered and hereby are designated as
Nonqualified Stock Options. 
 2. Purchase Price. The purchase price of the shares covered by this Option shall be [Price per
share] per share. The “Committee” (provided for in Article 3 of the Plan) has determined that such price represents one hundred percent 100% of the fair market value of a share of the Company’s common stock on this date.

 3. Term of Option. The term of this Option shall be for a period of ten (10) years from the date hereof, subject in each case
to earlier termination as provided in subsequent paragraphs of this Agreement. 
 4. Employee’s Agreement. In consideration of
the granting of the Option, the Employee agrees to remain in the employ of the Company for a period of at least thirty six (36) months from the date hereof (the “Minimum Employment Period”). Such employment, subject to the provisions
of any written contract between the Company and the Employee, shall be at the pleasure of the Board of Directors, and this Option Agreement shall not impose on the Company any obligation to retain the Employee in its employ for any period. In the
event of the termination of employment of the Employee for any reason during the Minimum Employment Period, this Option shall terminate, unless this Option becomes exercisable as provided in Paragraph 9. 
 5. Exercise of Option. Except as provided in paragraph 9, this Option shall not be exercisable prior to the expiration of the Minimum Employment
Period. Thereafter, this Option may be exercised in whole or in part, at any time and from time to time. This Option may not be exercised as to less than 100 shares at any one time, unless the number purchased is the total number at that time
purchasable under this Option. This Option shall be exercised by written notice to the Company. The notice shall state the number of shares with respect to which the Option is being exercised, shall be signed by the person exercising this Option,
and shall be accompanied by payment of the full purchase price of the shares in such form as the Committee may accept. This Option agreement shall be submitted to the Company with the notice for purposes of recording the shares being purchased, if
exercised in part, or for purposes of cancellation if all shares subject to this Option are being purchased. In the event the Option shall be exercised pursuant to paragraph 8(c) hereof by any person other than the Employee, such notice shall be
accompanied by appropriate proof of the right of such person to exercise the Option. To the extent determined by the Committee in its sole discretion, payment of the purchase price shall be made by: (a) cash, check, bank draft, or money order,
payable to the order of the Company; (b) the delivery by the Employee of unencumbered shares of common stock of the Company with a Fair Market Value on the last trading day preceding payment equal to the total purchase price of the shares to be
purchased; 

 
(c) a combination of (a) and (b), except that no shares of stock which have been held for less than six months may be delivered in payment of the
exercise price. Upon exercise of all or a portion of this Option, the Company shall issue to the Employee a stock certificate representing the number of shares with respect to which this Option was exercised. 
 6. Tax Withholding. The exercise of this Option is subject to the satisfaction of withholding tax or other withholding liabilities, if any, under
federal, state and local laws in connection with such exercise or the delivery or purchase of shares pursuant hereto. The exercise of this Option shall not be effective unless applicable withholding shall have been effected or obtained in the
following manner or in any other manner acceptable to the Committee. Unless otherwise prohibited by the Committee, Optionee may satisfy any such withholding tax obligation by any of the following means or by a combination of such means:
(a) tendering a cash payment; (b) authorizing the Company to withhold from the shares otherwise issuable to Optionee as a result of the exercise of this Option a number of shares having a fair market value as of the date that the amount of
tax to be withheld is to be determined (“Tax Date”), which shall be the date of exercise of the Option, less than or equal to the amount of the withholding tax obligation; or (c) delivering to the Company unencumbered shares of the
Company’s common stock owned by Optionee having a fair market value, as of the Tax Date, less than or equal to the amount of the withholding tax obligation. 
 7. Nontransferability of Option. This Option shall not be sold, transferred, pledged, assigned, or otherwise alienated or hypothecated other than by will or by the laws of descent and distribution, and shall
not be subject to execution, levy, attachment or similar process. Any attempted sale, transfer, assignment, pledge, hypothecation or other disposition of this Option contrary to the terms hereof, and any execution, levy, attachment or similar
process upon the Option, shall be null and void and without effect. Following any transfer, this Option shall continue to be subject to the same terms and conditions immediately prior to transfer. The designation of a person entitled to exercise
this Option after the Employee’s death will not be deemed a transfer. 
 8. Termination of Employment. 
 (a) Termination of Employment for Reasons Other Than Retirement, Disability or Death. Upon Termination of Employment for any reason other than Retirement
or on account of Disability or death, this Option shall, to the extent rights to purchase shares hereunder have accrued at the date of such Termination of Employment and shall not have been fully exercised, be exercisable, in whole or in part, at
any time within a period of three (3) months following Termination of Employment, subject, however, to prior expiration of the term of this Option and any other limitations upon its exercise in effect at the date of exercise. 
 (b) Termination of Employment for Retirement or Disability. Upon Termination of Employment by reason of Retirement or Disability, this Option shall, to
the extent rights to purchase shares hereunder have accrued at the date of such Retirement or Disability and have not been fully exercised, be exercisable, in whole or in part, for a period of three (3) years following such Termination of
Employment, subject to any other limitations imposed by the Plan. If the Employee dies after such Retirement or Disability, this Option shall be exercisable in accordance with paragraph 8(c) hereof. 
 (c) Termination of Employment for Death. Upon Termination of Employment due to death, this Option shall, to the extent rights to purchase shares
hereunder have accrued at the date of death and shall not have been fully exercised, be exercisable, in whole or in part, by the personal representative of the Employee’s estate, by any person or persons who shall have acquired this Option
directly from the Employee by bequest or inheritance, by a person designated to exercise the Option after the Employee’s death, or a Permitted Transferee only under the following circumstances and during the following periods: (i) if the
Employee dies while employed by the Company or a subsidiary, at any time within three (3) years after his or her death, or (ii) if the Employee dies during the extended exercise period following termination of employment specified in
paragraph 8(b), at any time within the longer of such extended period or one (1) year after his or her death, subject, in any case, to the earlier expiration of this Option. 

 (d) Termination of Option. If this Option is not exercised within whichever of the exercise periods
specified in paragraph 8(a), 8(b) or 8(c) is applicable, this Option shall terminate upon expiration of such exercise period. 
 9.
Changes in Capital Structure. The number of shares covered by this Option, and the price per share, shall be proportionately adjusted for any increase or decrease in the number of issued shares of common stock of the Company resulting from
any combination of shares or the payment of a stock dividend on the Company’s common stock or any other increase or decrease in the number of shares effected without receipt of consideration by the Company. 
 In the event of a “Change of Control” (as defined in Section 12.2 of the Plan) of the Company, this Option will be and become fully vested
and exercisable irrespective the Minimum Employment Period and irrespective any vesting schedule set forth in this Agreement, unless in the case of a transaction described in clause (iii) or (iv), of Section 12.2 of the Plan, provisions
are made in connection with such transaction for the continuance of the Plan and the assumption of this Option or the substitution for this Option of a new option covering the stock of a successor employer corporation, or a parent or subsidiary
thereof, covering the stock of a successor employer corporation, or a parent or subsidiary thereof, with appropriate adjustments as to the number and kind of shares and prices. 
 In the event of a change in the common stock of the Company as presently constituted, which is limited to a change of all its authorized shares into the
same number of shares with a different par value or without par value, the shares resulting from any such change shall be deemed to be the shares subject to this Option. 
 Except as expressly provided in this paragraph 9, the Employee shall have no rights by reason of: (i) any subdivision or combination of shares of stock of any class, (ii) the payment of any stock dividend or
any other increase or decrease in the number of shares of stock of any class; or (iii) any dissolution, liquidation, merger or consolidation or spinoff of assets or stock of another corporation. Except as provided in this paragraph 9, any issue
by the company of shares of stock of any class, or securities convertible into shares of stock of any class, shall not affect, and no adjustment by reason thereof shall be made with respect to, the number or price of shares subject to this Option.

 The grant of this Option shall not affect in anyway the right or power of the Company to make adjustments, reclassifications,
reorganizations or changes of its capital or business structure or to merge or to consolidate or to dissolve, liquidate or sell, or transfer all or any part of its business or assets. 
 10. Rights as a Shareholder. Neither the Employee nor a transferee of this Option shall have any rights as a shareholder with respect to any
shares covered hereby until the date he or she shall have become the holder of record of such shares. No adjustment shall be made for dividends, distributions or other rights for which the record date is prior to the date on which he or she shall
have become the holder of record thereof, except as provided in paragraph 9 hereof. 
 11. Modification, Extension and Renewal.
Subject to the terms and conditions and within the limitations of the Plan, the Committee, subject to approval of the Board of Directors, may modify or renew this Option, or accept its surrender (to the extent not theretofore exercised) and
authorize the granting of a new option or options in substitution therefore (to the extent not theretofore exercised). Notwithstanding the foregoing, no modification shall, without the consent of the Employee, alter or impair any rights or
obligations hereunder. 
 12. Postponement of Delivery of Shares and Representations. The Company, in its discretion, may postpone the
issuance and/or delivery of shares upon any exercise of this Option until completion of such stock exchange listing, or registration, or other qualification of such shares under any state and/or federal law, 

 
rule or regulation as the Company may consider appropriate, and may require any person exercising this Option to make such representations, including a
representation that it is the Employee’s intention to acquire shares for investment and not with a view to distribution thereof, and furnish such information as it may consider appropriate in connection with the issuance or delivery of shares
in compliance with applicable laws, rules and regulations. In such event, no shares shall be issued to such holder unless and until the Company is satisfied with the accuracy of any such representations. 
 13. Subject to Plan. This Option is subject to the terms and provisions of the Plan. If any inconsistency exists between the provisions of this
Agreement and the Plan, the Plan shall govern. 
 14. Nonqualified Stock Option. This Option is a Nonqualified Stock Option. This
Option does not qualify as an incentive stock option within the meaning of Section 422 of the Internal Revenue Code of 1986, as amended. 
 In Witness Whereof, this Stock Option Agreement has been executed the date first above written. 
  

			
	MACATAWA BANK CORPORATION
		
	BY	 	  

		 	PHILIP J. KONING
		
	ITS	 	SECRETARY
	
	EMPLOYEE
	
	  

		
	PRINT NAME	 	  

		
	ADDRESS	 	  

		
	SS#:

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