Document:

Unassociated Document

    

      PRE-OPENING
        FUNDS AGREEMENT

       

      This
        Pre-Opening Funds Agreement
        (“Agreement”) is entered into as of the 28 day of July, 2004 by and among
        Birmingham Bloomfield Bancorp, Inc., a corporation organized under the laws
        of
        the State of Michigan (“Company”), and each of the undersigned individuals
        (each, an “Organizer”).

       

      RECITALS

       

      WHEREAS,
        the
        Organizers have the mutual intention and objective to organize a commercial
        bank
        (the “Proposed Bank”) and have established the Company to pay the Proposed
        Bank’s organizational expenses and to enter into agreements in furtherance of
        the organization of the Proposed Bank; 

       

      WHEREAS,
        the
        Organizers desire to take such steps and actions as may be necessary in the
        furtherance of their mutual intentions and objectives, including, but not
        limited to, the filing of regulatory applications (the “Applications”) with the
        Federal Reserve, the Federal Deposit Insurance Corporation (“FDIC”), the Office
        of the Comptroller of the Currency (“OCC”) and/or the Michigan
        Office of Financial and Insurance Services
        (“State”), as applicable (the “Regulators”); and 

       

      WHEREAS,
        the
        Organizers further desire by this Agreement to provide for the solicitation
        of
        funds to cover the organizational (pre-incorporation and pre-opening) expenses
        of the Company and the Proposed Bank among the Organizers, to be expended
        for
        the purpose of paying expenses to be incurred in order to determine the
        feasibility of the Proposed Bank, to prepare the Applications and otherwise
        to
        organize the Proposed Bank.

       

      NOW,
        THEREFORE,
        in
        consideration of the foregoing and the promises, covenants and conditions
        hereinafter set forth, and the contribution of money provided for herein,
        the
        Organizers hereto agree as follows:

       

      1.  Payments
        of Funds for Pre-Incorporation Expenses

       

      .
        Each
        Organizer, by execution of a counterpart hereof, hereby agrees to contribute
        funds in the amount of $30,000 (“Pre-Opening Funds”) for the purpose of funding
        organizational expenses of the Company and the Proposed Bank. A payment of
        $10,000 shall be made by such Organizer concurrently with the execution of
        this
        Agreement, and two (2) additional payments of $10,000 shall be due and payable
        within five (5) business days after notice from the Co-Managers (as defined
        below) that the payment is due. Pre-Opening Funds paid by check shall be
        made
        payable to “Birmingham Bloomfield Bancorp, Inc.”

       

      2.  Account,
        Co-Managers, and Terms Under Which Pre-Opening Funds Shall Be
        Held

       

      .
        All
        Pre-Opening Funds shall be deposited in a deposit account (the “Account”)
        established in the name of the Company at a federally-insured depository
        institution domiciled or authorized to do business in Michigan and selected
        by
        the Co-Managers. No other funds shall be deposited in the Account. The
        Co-Managers or the Organizers (including the Co-Managers), acting by a vote
        of
        at least two-thirds of their number, may transfer the Account to another
        banking
        organization domiciled or authorized to do business in Michigan.

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      Until
        a
        total of $50,000 has been received in good funds from five (5) Organizers,
        no
        disbursements shall be made from the Account. If for any reason a total of
        $50,000 has not been received by the Co-Managers by the close of business
        on
        July 15, 2004, then Pre-Opening Funds on deposit as of that date shall be
        returned to each Organizer who contributed such funds within three (3) business
        days thereafter without interest. Pre-Opening Funds may be accepted from
        a
        proposed Organizer only by the Co-Managers. Funds accepted from an Organizer
        shall not be returned to the Organizer whether upon his or her withdrawal
        or
        removal, except as expressly provided herein. Funds shall be returned to
        an
        Organizer who has withdrawn or been removed only after such payment has been
        approved by at least two-thirds of the other Organizers, and if not so approved,
        then the withdrawing or removed Organizer shall be entitled to the return
        or
        partial return of his or her funds only under the same terms and conditions
        as
        apply to the remaining Organizers. After the initial balance in the Account
        reaches $50,000 (such that disbursements are permitted pursuant to this
        Section), the balance in the Account may be reduced below $50,000.

       

      Unless
        and until changed by the vote of two-thirds of the Organizers, Rob Farr and
        Daniel O’Donnell are hereby appointed to serve as Co-Managers of the Account
        (the “Co-Managers”), and are authorized to receive, deposit and disburse all
        funds to be collected or paid pursuant to the terms of this Agreement and
        to
        take such other actions as may be contemplated by this Agreement.

       

      3.  Terms
        Under Which Pre-Opening Funds Shall Be Disbursed

       

      .
        Disbursements from the Account may be made only upon the order and signature
        of
        both Co-Managers, and only for purpose of paying organizational expenses
        of the
        Company or the Proposed Bank, including but not limited to (i) marketing
        and
        banking consulting fees, (ii) economic study fees, (iii) pre-opening consulting
        fees to be paid to one or more proposed officers of the Proposed Bank, and
        others (all as approved by a majority of the Organizers), (iv) accounting
        and
        legal fees, (v) application fees and expenses, and (vi) rent, lease and/or
        option payments and security deposits; provided, however, that no disbursement
        in excess of $5,000 (except reimbursement of out-of-pocket expenses) shall
        be
        made to any Organizer unless and until such payment or payments have been
        approved in advance by at least a majority of the Organizers who are then
        parties to this Agreement. 

       

      4.  Additional
        Organizers

       

      .
        Upon
        the approval of the Co-Managers, additional Organizers may be added from
        time to
        time, provided that such Organizers ratify and agree to be bound by, and
        comply
        with the provisions, terms and conditions of, this Agreement. Each additional
        Organizer shall execute a signature page to this Agreement (and such other
        instrument as counsel to the Company shall require), and shall immediately
        contribute funds in the same amount as has been contributed as of such date
        by
        each of the other Organizers.

       

      5.  Records

       

      .
        The
        Co-Managers shall keep and maintain records containing:

       

      (a)  With
        respect to each deposit to the Account:

       

      (i)  date
        of
        deposit,

      (ii)  amount
        deposited, and

      (iii)  name
        of
        person from whom such money was accepted.

       

      (b)  With
        respect to each withdrawal from the Account:

       

      (i)  date
        of
        withdrawal,

      (ii)  amount
        of
        money withdrawn,

      (iii)  name
        of
        person or entity to whom such money was paid,

      (iv)  description
        of purpose of such payment, and

      (v)  any
        invoice or billing relating to such payment.

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      (c)  The
        Co-Managers or, upon opening, the Proposed Bank, shall preserve the records
        described above for a period of not less than four (4) years after such Account
        is closed.

       

      (d)  The
        Co-Managers shall, upon request, make the records described above available
        for
        inspection and copying by (i) the Regulators, (ii) any proposed director,
        officer, or organizer of the Company or the Proposed Bank; (iii) any person
        from
        whom Pre-Opening Funds have been accepted, (iv) the Company, or (v) the Proposed
        Bank, if and when organized.

       

      6.  Reports.
        

       

      (a)  On
        or
        before the 21st day of each calendar quarter, commencing with the calendar
        quarter after Pre-Opening Funds are first accepted and continuing until the
        Account is closed in accordance with this Agreement, the Co-Managers will
        provide to each person from whom Pre-Opening Funds have been accepted a report
        stating, with respect to the last calendar quarter:

       

      
        	1.  	
                Opening
                  balance of the Account.

              

      

       

      
        	2.  	
                Total
                  amount deposited in the Account during the calendar
                  quarter.

              

      

       

      
        	3.  	
                Itemized
                  schedule of deposits showing, with respect to each deposit, date
                  of
                  deposit, amount of money deposited, name of person from whom such
                  money
                  was accepted and aggregate total
                  amount.

              

      

       

      
        	4.  	
                Total
                  amount disbursed from the Account during the calendar
                  quarter.

              

      

       

      
        	5.  	
                An
                  itemized schedule of disbursements showing, with respect to each
                  person to
                  whom the amount disbursed, together with amounts previously disbursed
                  to
                  each person, is $500 or more: name of person, amount disbursed
                  to the
                  person, description of purpose of such disbursement and the aggregate
                  total amount disbursed to date to the
                  person.

              

      

       

      
        	6.  	
                Closing
                  balance of Account.

              

      

       

      7.  Circumstances
        Under Which Pre-Opening Funds Shall Be Repaid

       

      .
        

       

      (a)  The
        Organizers understand and agree that the Pre-Opening Funds advanced by the
        Organizers shall be reimbursed to the Organizers if, and only if, one of
        the
        following events occurs:

       

      (i)  The
        Company receives the proceeds of a loan made to the Company to repay the
        Pre-Opening Funds; or 

       

      (ii)  The
        Proposed Bank is issued a charter to transact commercial banking business
        by the
        OCC or the State, as applicable, the Proposed Bank receives approval from
        the
        FDIC of its application for deposit insurance and all subscription funds
        held in
        escrow for Proposed Bank stock have been released to the Proposed
        Bank.

       

      (b)  The
        Co-Managers shall cause the Company, after making all disbursements authorized
        under the terms of this Agreement, to pay any and all balances in the Account,
        on a pro rata basis, to the Organizers upon the occurrence of any of the
        following events: 

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      (i)  an
        application for authority to organize the Proposed Bank is not filed with
        the
        OCC or the State within six (6) months after Pre-Opening Funds are first
        accepted by the Co-Managers, or

       

      (ii)  an
        application for authority to organize the Proposed Bank filed with the OCC
        or
        the State within such time is denied by the OCC or the State and a reapplication
        for authority to organize the Proposed Bank is not filed with the OCC or
        the
        State within 90 days after such denial.

       

      (c)  Each
        Organizer acknowledges and agrees that there is no assurance that any of
        the
        conditions described in this Section will be met and that if the conditions
        described above do not occur, such Organizer shall not be entitled to
        reimbursement of any of the Pre-Opening Funds, except as expressly provided
        herein. Such Organizer further waives any and all claims against any other
        Organizers hereto, the Company, the Proposed Bank and their respective officers,
        directors, shareholders, attorneys, agents and representatives for reimbursement
        of his or her share of Pre-Opening Funds as a result of the failure to occur
        of
        any of the conditions described above.

       

      8.  Application;
        Services

       

      .
        The
        Co-Managers are hereby authorized and directed to execute and deliver written
        agreements with attorneys, accountants, economists and banking/fundraising
        consultants, relating to the various applications to be filed with the
        Regulators in connection with the organization of the Proposed Bank, and
        for
        other services related to the organization of the Company or the Proposed
        Bank.
        The Co-Managers are hereby authorized and directed to pay, to the extent
        of
        funds made available by the Organizers as described herein, all amounts agreed
        to in said agreements for all such services rendered. Notwithstanding the
        foregoing, the preparation of the Applications shall not commence unless
        and
        until a total of $50,000 has been received from five (5)
        Organizers.

       

      9.  Indemnification
        of Co-Managers

       

      .
        The
        Organizers hereto agree to indemnify and hold the Co-Managers harmless from
        any
        liability, obligation, claims or costs (including attorneys, accountants,
        paralegal fees and expenses) incurred by them in their capacities as such
        or in
        the course of their performance of their duties as such, except liabilities
        or
        obligations arising from or out of willful misconduct or gross
        negligence.

       

      10.  Removal
        of Organizers. An
        Organizer may be removed with or without cause upon the vote of two-thirds
        of
        the then-active Organizers.  

       

       

      11.  Voluntary
        Withdrawal.  

       

      An
        Organizer may withdraw as an organizer of the Company or the Proposed Bank
        by
        giving written notice to the Co-Managers. Notwithstanding the foregoing,
        the
        withdrawal of an Organizer shall not affect in any manner any obligation
        incurred by the Organizer pursuant to this Agreement or any other agreement
        entered into by the Organizer.

       

       

      12.  Unauthorized
        Acts

       

      .
        Notwithstanding anything contained herein to the contrary, no party hereto
        shall
        be authorized in any manner or form to perform any act or to render any
        communication or information with regard to the organization of the Company
        or
        the Proposed Bank that is contrary to applicable federal and applicable state
        law, including the rules, regulations and policies of the Federal Reserve,
        OCC,
        State and FDIC. In addition, each Organizer acknowledges the
        following:

       

      (a)  that
        the
        Proposed Bank is not being organized for the sole purpose of immediately
        selling
        to or merging or consolidating with any other financial
        institution;

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      (b)  that
        such
        Organizer may not indicate, either orally or in writing, that he or she is
        an
        officer or director of the Proposed Bank or that the Proposed Bank is in
        existence prior to receiving the consent of the Regulators, if required at
        such
        time;

       

      (c)  that
        the
        Proposed Bank, upon organization, will not refinance, either directly or
        indirectly, any loan, advance, or credit extension made to any prospective
        shareholder by any existing financial institution or other lender, if such
        loan,
        advance, or credit extension was originally made to the prospective shareholder
        to obtain funds to purchase stock in the Proposed Bank;

       

      (d)  that
        all
        subscription funds for capital stock will be held in escrow subject to the
        order
        of the applicable Regulators and that these funds will be released only after
        all conditions precedent to the commencement of operations at the Proposed
        Bank
        have been satisfied; and

       

      (e)  that
        no
        representations have been made by the Co-Managers, any of the Organizers,
        any of
        the other signatories hereto or attorneys, accountants or any other service
        providers to the Company or the Proposed Bank guaranteeing or representing
        that:
        (a) a charter for the Proposed Bank will be issued and approved by the
        Regulators; (b) approval of the Proposed Bank by the Regulators will occur
        on or
        before any specified date or approximate date, or that such approval will
        be
        received at all; (c) such Organizer will be approved by the Regulators as
        an
        organizing director of the Proposed Bank; (d) the Proposed Bank will be able
        to
        successfully sell any amount of its initial capital stock; (e) such Organizer
        will be approved by the Regulators to purchase any specific number of shares
        of
        the capital stock of the Proposed Bank; (f) the Regulators will approve any
        specific stock options or other benefit for such Organizer(s); (g) the Proposed
        Bank will be located in any specific location or city; or (h) the Proposed
        Bank
        will open for business on or before any specific date or approximate
        date.

       

      13.  Borrowings/Guarantees.
        The
        parties understand and agree that it may be necessary for the Company to
        borrow
        funds or otherwise secure lines of credit for the purpose of obtaining funds
        to
        pay pre-incorporation and pre-opening expenses of the Proposed Bank and that
        lenders may require such financing arrangements to be evidenced by one or
        more
        notes co-signed or guaranteed by each of the undersigned on a pro rata basis,
        based on the amount of Pre-Opening Funds contributed by such Organizer; provided
        however, that if required by the lender and consented to by the Co-Managers,
        the
        guarantee of each respective Organizer may be increased to a percentage of
        his
        respective pro rata amount not greater than 115%. Except as provided above,
        any
        other agreement to borrow funds that requires the guarantee of an Organizer
        shall require the unanimous written consent of all the Organizers who undertake
        such guarantee. All funds obtained pursuant to this Section 13
        shall be
        maintained and disbursed by the Co-Managers
        in conformity with the duties set forth in this Agreement.

       

      14.  Termination

       

      .
        The
        Agreement shall terminate upon the occurrence of any of the following
        events:

       

      (a)  by
        mutual
        written consent of a majority of the Organizers who are bound by the terms
        hereof; or

       

      (b)  following
        an event described in Section 7(a)
        or
7(b)
        upon the
        reimbursement of funds due to Organizers or upon a determination by the
        Co-Managers that no reimbursement shall be due. 

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      15.  Miscellaneous.

       

      (a)  Notices.
        Any
        notice required by this Agreement shall be given by telephone and confirmed
        by
        facsimile, express or certified mail to the parties at the addresses heretofore
        furnished by each party hereto or such other address as a party may later
        specify. With respect to notice confirmed by facsimile, notice shall be deemed
        duly given when facsimile confirmation is received. With respect to notice
        confirmed by express or certified mail, notice shall be deemed duly given
        upon
        the earlier of actual receipt of such confirmation by mail or three (3) business
        days after deposit in the United States mail, postage prepaid.

       

      (b)  Complete
        Agreement.
        This
        Agreement contains the entire understanding of the parties and supersedes
        all
        existing agreements and all other oral, written or other communications between
        the parties concerning its subject matter. There are no agreements, arrangements
        or undertakings, oral or written, between or among the parties hereto relating
        to the subject matter of this Agreement that are not fully expressed
        herein.

       

      (c)  Governing
        Law.
        This
        Agreement shall be governed by the laws of Michigan without regard to principles
        of conflicts of laws. Any dispute or controversy arising under, out of or
        in
        connection with this Agreement, shall be determined and settled by arbitration
        in the City of Detroit, State of Michigan in accordance with the rules of
        the
        American Arbitration Association. Any decision rendered thereby shall be
        non-appealable, final and binding on the parties and judgment may be entered
        thereon.

       

      (d)  Assignment.
        This
        Agreement is personal to the parties hereto and may not be assigned, except
        with
        respect to the Company to a successor corporate entity, including the Proposed
        Bank, once established.

       

      (e)  Amendment.
        This
        Agreement may be amended only by a writing signed by a majority of the
        Organizers; provided however, that any action under this Agreement requiring
        the
        approval or consent of more than a majority may be amended only by a writing
        signed by at least the same number of Organizers as would be required to
        take
        such action under the Agreement.

       

      (f)  Waiver.
        Failure
        to insist upon strict compliance with any of the terms, covenants or conditions
        hereof shall not be deemed a waiver of such term, covenant, or condition.
        A
        waiver of any provision of this Agreement must be made in writing, designated
        as
        a waiver, and signed by the party against who its enforcement is sought.
        Any
        waiver or relinquishment of such right or power at any one or more times
        shall
        not be deemed a waiver or relinquishment of such right or power at any other
        time or times.

       

      (g)  Illegality,
        Severability.
        If any
        provisions of this Agreement (or any portion thereof) shall be held to be
        invalid, illegal or unenforceable, the validity, legality or enforceability
        of
        the remainder of this Agreement shall not in any way be affected or impaired
        thereby. 

       

      (h)  Counterparts.
        This
        Agreement may be executed in any number of counterparts and each of such
        counterparts shall be deemed an original, and all such counterparts shall
        together constitute but one and the same instrument. 

       

      (i)  Headings.
        The
        headings of sections in this Agreement are for convenience of reference only
        and
        are not intended to qualify the meaning of any of the language in this
        Agreement.

       

      (j)  Relationship
        of the Organizers.
        This
        Agreement shall not be deemed to create a partnership or joint venture among
        the
        Organizers or among the Company and the Organizers. Except with respect to
        the
        authorized acts of the Co-Managers, as expressly described in this Agreement,
        no
        Organizer shall be authorized or have the right to bind or obligate any other
        Organizer to any debt, obligation or liability with any third party without
        the
        prior written consent of all of the other Organizers.

       

      
         

        
          
            
            

          

          
            
            

            
              

            

          

          
            
            

          

        

         

         

      

      IN
        WITNESS WHEREOF,
        the
        undersigned parties have executed this Agreement and agree to be bound by
        the
        terms hereof.

       

      

       

      COMPANY:

       

      BIRMINGHAM
        BLOOMFIELD BANCORP, INC.

       

      

       

      By:
        /s/ Robert E. Farr      

       

      Name: Robert
        E. Farr                 

       

      Title:
        President      

       

      

       

      ORGANIZERS

      
        
          	 
	____________________ 
	
                  Name:
                    /S/ Donald J. Abood

                
	 
	____________________ 
	
                  Name:
                    /S/ William R. Aikens

                
	 
	____________________ 
	
                  Name:
                    /S/ John G. Berghoefer

                
	 
	____________________ 
	
                  Name:
                    /S/ Jane L. Brodsky

                
	 
	____________________ 
	
                  Name:
                    /S/ John J. Byrne

                
	 
	____________________ 
	
                  Name:
                    /S/ Harry Cendrowski

                
	 
	____________________ 
	
                  Name:
                    /S/ Donald E. Copus

                
	 
	____________________ 
	
                  Name:
                    /S/ Michael T. Cromwell

                
	 
	__________________ 
	
                  Name:
                    /S/ Kevin Dillon

                
	 
	_________________ 
	
                  Name:
                    /S/ Len Dillon

                
	 
	________________ 
	
                  Name:
                    /S/ John M. Farr

                
	 
	________________ 
	
                  Name:
                    /S/ Rob Farr

                
	 
	__________________ 
	
                  Name:
                    /S/ D. Michael Jehle

                
	 
	__________________ 
	
                  Name:
                    /S/ Charles Kaye

                
	 
	___________________ 
	
                  Name:
                    /S/ Ralph Miesel

                
	 
	___________________ 
	
                  Name:
                    /S/ Richard J. Miller

                
	 
	__________________ 
	
                  Name:
                    /S/ J. Martin Nagle

                
	 
	____________________ 
	
                  Name:
                    /S/ Dr. Joseph Nemeth

                
	 
	_____________________ 
	
                  Name:
                    /S/ Daniel P. O’Donnell

                
	 
	____________________ 
	
                  Name:
                    /S/ Charles T. Pryde

                
	 
	____________________ 
	
                  Name:
                    /S/ David Radner

                
	 
	____________________ 
	
                  Name:
                    /S/ Richard D. Rosin

                
	 
	_____________________ 
	
                  Name:
                    /S/ Gregory Schwartz, Jr.

                
	 
	_____________________ 
	
                  Name:
                    /S/ Walter Schwartz

                
	 
	______________________ 
	
                  Name:
                    /S/ Henry G. Spellman

                
	 
	_________________ 
	
                  Name:
                    /S/ Mike Vogel

                
	 
	___________________ 
	
                  Name:
                    /S/ James A.
                    WilliamsUnassociated Document

    

      AMENDMENT
        TO PRE-OPENING FUNDS AGREEMENT

       

      This
        AMENDMENT TO PRE-OPENING FUNDS AGREEMENT (this “Amendment”) is made and entered
        into as of the 2nd day of  January 2005, by and between Birmingham
        Bloomfield Bancorp, Inc., a Michigan corporation (the “Company”), and each of
        the undersigned individuals (each, an “Organizer,” and collectively, the
“Organizers”).

      

      WITNESSETH:

      

      WHEREAS,
        the
        Company and the Organizers previously have entered into that certain Pre-Opening
        Funds Agreement, dated as of July 28, 2004 (the “Agreement”), which provides for
        the solicitation and expenditure of funds in connection with the Company’s
        efforts to organize a proposed de novo commercial bank (the “Bank”);
        and

       

      WHEREAS,
        the
        parties desire to amend the Agreement to provide for a second class of
        Organizers (the “Half-Unit Organizers”) with certain rights and obligations, as
        provided by this Amendment, which are separate from the rights and obligations
        of existing Organizers under the Agreement. 

       

      NOW,
        THEREFORE,
        for and
        in consideration of the foregoing and of the mutual covenants and agreements
        contained herein, and other good and valuable consideration, the receipt
        and
        sufficiency of which are hereby acknowledged, and intending to be bound hereby,
        the parties hereby agree as follows:

       

      1.  Section
        1.
        Section
        1 of the Agreement is hereby amended to read in its entirety as
        follows:

       

      1. Payments
        of Funds for Pre-Incorporation Expenses.
        Each
        Organizer, by execution of a counterpart hereof, hereby agrees to contribute
        funds (“Pre-Opening Funds”) in the amount of $30,000, or in the case of
        Half-Unit Organizers, in the amount of $15,000, for the purpose of funding
        organizational expenses of the Company and the Proposed Bank. A payment of
        $10,000, or in the case of Half-Unit Organizers, $5,000, shall be made by
        each
        Organizer concurrently with the execution of this Agreement, and two (2)
        additional payments of $10,000, or in the case of Half-Unit Organizers, $5,000,
        shall be due and payable within five (5) business days after notice from
        the
        Co-Managers (as defined below) that the payment is due. Pre-Opening Funds
        paid
        by check shall be made payable to “Birmingham Bloomfield Bancorp,
        Inc.”

      

      2.  Section
        4.
        Section
        4 of the Agreement is hereby amended to read in its entirety as
        follows:

       

      4.
        Additional
        Organizers.
        Upon the
        approval of the Co-Managers, additional Organizers, (including Half-Unit
        Organizers), may be added from time to time, provided that such Organizers
        ratify and agree to be bound by, and comply with the provisions, terms and
        conditions of, this Agreement. Each additional Organizer shall execute a
        signature page to this Agreement (and such other instrument as counsel to
        the
        Company shall require), and shall immediately contribute funds as required
        by
        Section 1 from each of the other Organizers or Half-Unit Organizers, as the
        case
        may be. Organizers who are intended to be subject to the separate terms
        applicable to Half-Unit Organizers shall be designated as Half-Unit Organizers
        on the signature page of this Agreement at the time of execution. 

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      

      3.  All
        Other Terms in Force.
        Except
        as expressly amended hereby, all terms, provisions, conditions, covenants,
        representations and warranties contained in the Agreement are not modified
        by
        this Amendment and continue in full force and effect as originally written.
        As hereby modified and amended, all of the terms and provisions of
        the
        Agreement are ratified and confirmed. 

       

      4.  Additional
        Parties to the Agreement.
        By
        executing a signature page to this Amendment, the undersigned Half-Unit
        Organizers agree to be made parties to the Agreement, as amended hereby.
        The
        Half-Unit Organizers agree that, except as expressly provided otherwise in
        the
        Agreement, as amended, all terms, provisions, conditions, covenants,
        representations and warranties in the Agreement which are applicable to each
        Organizer shall be equally applicable to each Half-Unit Organizer.

       

      5.  Multiple
        Counterparts.
        For the
        convenience of the parties hereto, this Amendment may be executed in multiple
        counterparts, each of which shall be deemed an original, and all counterparts
        hereof so executed by the parties hereto, whether or not such counterpart
        shall
        bear the execution of each of the parties hereto, shall be deemed to be,
        and
        shall be construed as, one and
        the same
        Amendment. A telecopy or facsimile transmission of a signed counterpart of
        this
        Amendment shall be sufficient to bind the party or parties whose signature(s)
        appear thereon.

       

      

      [Signature
        Page Follows]

      
         

         

        
          
            
            

          

          
            
            

            
              

            

          

          
            
            

          

        

      

      IN
        WITNESS WHEREOF,
        the
        parties hereto have executed or caused this Amendment to be executed by their
        duly authorized officers as of the date first above written. 

       

      COMPANY:

       

      BIRMINGHAM
        BLOOMFIELD BANCORP, INC.

       

      

       

      By:
        /s/ Robet E. Farr      

                                                                                                                     
        Name: Robert E. Farr     

                                                                                                                     
        Title: President     

       

      

       

      ORGANIZERS

       

      
        
          
            	 
	____________________ 
	
                    Name:
                      /S/ Donald J. Abood

                  
	 
	____________________ 
	
                    Name:
                      /S/ William R. Aikens

                  
	 
	____________________ 
	
                    Name:
                      /S/ John G. Berghoefer

                  
	 
	____________________ 
	
                    Name:
                      /S/ Jane L. Brodsky

                  
	 
	____________________ 
	
                    Name:
                      /S/ John J. Byrne

                  
	 
	____________________ 
	
                    Name:
                      /S/ Harry Cendrowski

                  
	 
	____________________ 
	
                    Name:
                      /S/ Donald E. Copus

                  
	 
	____________________ 
	
                    Name:
                      /S/ Michael T. Cromwell

                  
	 
	__________________ 
	
                    Name:
                      /S/ Kevin Dillon

                  
	 
	_________________ 
	
                    Name:
                      /S/ Len Dillon

                  
	 
	________________ 
	
                    Name:
                      /S/ John M. Farr

                  
	 
	________________ 
	
                    Name:
                      /S/ Rob Farr

                  
	 
	__________________ 
	
                    Name:
                      /S/ D. Michael Jehle

                  
	 
	__________________ 
	
                    Name:
                      /S/ Charles Kaye

                  
	 
	___________________ 
	
                    Name:
                      /S/ Ralph Miesel

                  
	 
	___________________ 
	
                    Name:
                      /S/ Richard J. Miller

                  
	 
	__________________ 
	
                    Name:
                      /S/ J. Martin Nagle

                  
	 
	____________________ 
	
                    Name:
                      /S/ Dr. Joseph Nemeth

                  
	 
	_____________________ 
	
                    Name:
                      /S/ Daniel P. O’Donnell

                  
	 
	____________________ 
	
                    Name:
                      /S/ Charles T. Pryde

                  
	 
	____________________ 
	
                    Name:
                      /S/ David Radner

                  
	 
	____________________ 
	
                    Name:
                      /S/ Richard D. Rosin

                  
	 
	_____________________ 
	
                    Name:
                      /S/ Gregory Schwartz, Jr.

                  
	 
	_____________________ 
	
                    Name:
                      /S/ Walter Schwartz

                  
	 
	______________________ 
	
                    Name:
                      /S/ Henry G. Spellman

                  
	 
	_________________ 
	
                    Name:
                      /S/ Mike Vogel

                  
	 
	___________________ 
	
                    Name:
                      /S/ James A.
                      Williams

                  

          

        

        
 

      

      

      [Signature
        Page for Half-Unit Organizers Follows]

      

      
         

         

        
          
            
            

          

          
            
            

            
              

            

          

          
            
            

          

        

      

      IN
        WITNESS WHEREOF,
        the
        undersigned parties have executed this Amendment as of the date first written
        above, and agree to be bound by the terms of the Agreement, as amended
        hereby.

      

      

       

      ORGANIZERS

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