Document:

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                                                                    EXHIBIT 10.2

                                                            Community Shores LLC

No. R-______

                        COMMUNITY SHORES BANK CORPORATION

                         FLOATING RATE SUBORDINATED NOTE
                                DUE JUNE 30, 2009

         THIS NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, THE
MICHIGAN UNIFORM SECURITIES ACT, OR THE SECURITIES LAWS OF ANY OTHER STATE. THIS
NOTE MAY NOT BE SOLD OR OTHERWISE TRANSFERRED WITHOUT REGISTRATION UNDER THE
SECURITIES ACT OF 1933, THE MICHIGAN UNIFORM SECURITIES ACT, AND ANY OTHER
APPLICABLE STATE SECURITIES LAWS, UNLESS AN EXEMPTION FROM REGISTRATION IS
AVAILABLE.

         THIS NOTE IS SUBJECT TO RESTRICTIONS ON SALE, PLEDGE AND OTHER
TRANSFERS SET FORTH IN AN AGREEMENT BETWEEN THE HOLDER AND ISSUER OF THIS NOTE,
INCLUDING RESTRICTIONS REQUIRING, IN MOST CASES, THE ISSUER'S CONSENT PRIOR TO
ANY SALE, PLEDGE OR OTHER TRANSFER.

         THIS NOTE IS NOT A DEPOSIT OR OTHER OBLIGATION OF COMMUNITY SHORES BANK
AND IS NOT INSURED BY THE FEDERAL DEPOSIT INSURANCE CORPORATION OR ANY OTHER
GOVERNMENT AGENCY. THIS NOTE IS SUBORDINATE TO THE CLAIMS OF CERTAIN OTHER
CREDITORS OF THE COMPANY, IS INELIGIBLE TO SECURE A LOAN FROM COMMUNITY SHORES
BANK, AND IS UNSECURED.

         Community Shores Bank Corporation, a Michigan corporation (the
"Company"), for value received, hereby promises to pay to

                            *** COMMUNITY SHORES LLC,
                    A MICHIGAN LIMITED LIABILITY COMPANY ***

or permitted registered assigns, on June 30, 2009, the principal sum of Two
Hundred Thousand Dollars and to pay interest on the unpaid principal amount of
this Note from the date of this Note or from the most recent Interest Payment
Date to which interest hereon has been paid or duly provided for, whichever is
later, quarterly in arrears on the 15th day of April, July, October, and January
(each an "Interest Payment Date") in each year commencing on October 15, 2004,
at the Adjusted US Bank Prime Rate until the principal of this Note is paid or
made available for payment. The Adjusted US Bank Prime Rate is the per annum
rate announced from time to time by US Bank as its prime rate, or if that rate
is not practical to determine for any period than during such period

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the prime rate prevailing at the time in the State of Michigan, plus in either
case one and one-half percent (1 1/2 %) per annum.

         Interest on overdue interest will be payable on demand at the rate of
ten percent (10%) per annum. During the continuance of any Event of Default (as
defined in the Purchase Agreement referred to below) the per annum rate of
interest payable on the unpaid principal balance of this Note will increase from
the Adjusted US Bank Prime Rate to two percent (2%) per annum above the Adjusted
US Bank Prime Rate.

         The interest so payable and punctually paid or duly provided for on any
Interest Payment Date will be paid to the person in whose name this Note is
registered at the close of business on the Regular Record Date for such interest
which shall be the 15th day (whether or not a business day) of the calendar
month immediately preceding an Interest Payment Date, notwithstanding the
cancellation of this Note upon any transfer or exchange of this Note subsequent
to such Regular Record Date and prior to such Interest Payment Date. The
principal of and interest on this Note shall be payable at the principal office
of the Company in Muskegon County, Michigan; provided, however, that payment of
interest or principal may be made at the option of the Company by check mailed
to the address of the person entitled to the payment as such address may appear
on the Note Register. All such payments shall be made in such coin or currency
of the United States of America as at the time of payment is legal tender for
payment of public and private debts.

         This Note may be prepaid in whole or in part prior to maturity, without
any prepayment fee, at any time at the election of the Company, upon at least
one (1) days prior written notice to the person in whose name this Note is
registered.

         This Note is one of a duly authorized issue of subordinated notes of
the Company designated as its Floating Rate Subordinated Notes Due June 30, 2009
(the "Floating Rate Subordinated Notes"), limited in aggregate principal amount
to $4,000,000. This Note is issued under and pursuant to a Subordinated Note
Purchase Agreement dated June 30, 2004, by and between the Company and the
initial registered owner of this Note (the "Purchase Agreement") to which
Purchase Agreement and any amendments to it reference is made for a description
of the rights, limitations of rights, obligations, and duties of the Company and
the person in whose name this Note is registered, and the terms upon which the
Notes are, and are to be, registered and delivered.

         The payment of principal of and interest on this Note is expressly
subordinated, as provided in the Purchase Agreement to the payment of any and
all Senior Debt of the Company, as defined in the Purchase Agreement, which
includes all obligations of the Company for borrowed or purchased money, whether
outstanding at the date of the Purchase Agreement or subsequently incurred,
other than obligations evidenced by the Company's Floating Rate Subordinated
Notes that are now outstanding or later issued. This Note is not superior in
right of payment to the other Floating Rate Subordinated Notes, but instead
shall rank pari passu with all of the other Floating Rate Subordinated

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Notes. This Note is issued subject to such provisions of the Purchase Agreement,
and each holder of this Note, by accepting the same, agrees to and shall be
bound by such provisions.

         This Note is issuable only as a registered Note without coupons in
minimum denominations of $1,000. No service charge will be made for any transfer
or exchange of this Note, but the Company will require payment of a sum
sufficient to cover any tax or other governmental charge payable in connection
with any transfer or exchange. The Company may treat the person in whose name
this Note is registered as the owner of this Note for the purpose of receiving
payment and for all other purposes whether or not this Note is overdue, and the
Company shall not be affected by any notice to the contrary.

         As provided in the Purchase Agreement and subject to certain
limitations set forth in the Purchase Agreement, this Note is transferable on
the Note Register of the Company, upon surrender of this Note for transfer at
the principle office of the Company in Muskegon County, Michigan, duly endorsed
by, or accompanied by a written instrument of transfer in form satisfactory to
the Company, duly executed by, the registered holder of this Note.

         The interest rate payable on this Note may be increased under certain
circumstances as provided for in Section 10 of the Purchase Agreement.

         No reference in this Note to the Purchase Agreement and no provisions
of this Note or of the Purchase Agreement shall alter or impair the obligation
of the Company, which is absolute and unconditional, to pay, the principal of
and interest on this Note at the time and place, at the rate and in the currency
prescribed in this Note.

         Community Shores Bank Corporation has caused this Note to be executed
in its corporate name by the manual signature of its duly authorized officer.

Date: June 30, 2004

                                            COMMUNITY SHORES BANK CORPORATION

                                            BY: /s/ Jose' A. Infante
                                               ------------------------------
                                                   Jose' A. Infante

                                                ITS: Chairman

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                                                                    EXHIBIT 10.1

                          AMENDMENT TO RIGHTS AGREEMENT

                 This Amendment to Rights Agreement is entered into as of August
9, 2004. Unless otherwise indicated in this Amendment, capitalized terms
contained herein have the meaning set forth in the Rights Agreement.

                 WHEREAS, North Country Financial Corporation (the "Company")
has entered into a Rights Agreement dated as of June 21, 2000 with Registrar and
Transfer Company (the "Rights Agent") (the "Rights Agreement") granting one
right for each Common Share outstanding as of July 31, 2000 (the "Record Date")
and for each Common Share issued between the Record Date and a Distribution
Date;

                 WHEREAS, Section 27 of the Rights Agreement provides that,
prior to any Person becoming an Acquiring Person, the Company and the Rights
Agent may supplement or amend any provision of the Rights Agreement to make any
provision with respect to the Rights which the Company may deem necessary or
desirable without the approval of any holders of Rights Certificates;

                 WHEREAS, as of the date of this Amendment no Person has become
an Acquiring Person;

                 WHEREAS, the Company has negotiated and intends to enter into a
Stock Purchase Agreement (the "Stock Purchase Agreement") with NCFC
Recapitalization, LLC ("NCFC"), pursuant to which the Company intends to issue
its Common Shares (the "Offering") to prospective interested investors (the
"Investors") in accordance with the terms and conditions of the Stock Purchase
Agreement and certain definitive subscription documents to be prepared,
negotiated and executed by the Company and the Investors (the "Definitive
Subscription Documents");

                 WHEREAS, Section 5.1(h) of the Stock Purchase Agreement
provides that the Company shall have taken all required action so that (i)
neither a "Shares Acquisition Date" nor a "Distribution Date" (as those terms
are defined in the Rights Agreement) shall occur as a result of the Stock
Purchase Agreement or any of the transactions contemplated by the Stock Purchase
Agreement, (ii) none of NCFC, any Investor or any "Affiliate" or "Associate" (as
those terms are defined in the Rights Agreement) of NCFC or any Investor, or any
group of any of them, shall be or become an "Acquiring Person" (as that term is
defined in the Rights Agreement) as a result of the Stock Purchase Agreement,
any of the transactions contemplated by the Stock Purchase Agreement or any
action taken by any of them or any group of any of them under or in connection
with the Stock Purchase Agreement or any of the transactions contemplated
thereby, in each case regardless of the number of shares of common stock of
North Country "Benefically Owned" (as that term is defined in the Rights
Agreement) by any of them or any group of any of them and (iii) all outstanding
Rights and the Rights Agreement shall expire and be terminated immediately prior
to the Closing without any payment; and

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                 WHEREAS, the Board of Directors of the Company has determined
that the execution of the Stock Purchase Agreement and the Offering are in the
best interest and to the advantage of the Company and its shareholders, and,
accordingly, pursuant to Section 27 of the Rights Agreement, directs that the
Rights Agreement be amended to comply with the requirements of the Stock
Purchase Agreement.

                 THEREFORE, the Rights Agreement is hereby amended as follows:

                 1. The "WHEREAS" clause at the beginning of the Rights
Agreement is hereby amended to read as follows:

                 "WHEREAS, the Board of Directors of the Company (the "Board")
has authorized and declared a dividend of one preferred share purchase right (a
"Right") for each Common Share (as hereinafter defined) of the Company
outstanding on the Record Date (as hereinafter defined), each Right representing
the right to purchase one one-thousandth of a Preferred Share (as hereinafter
defined), upon the terms and subject to the conditions herein set forth, and has
further authorized and directed the issuance of one Right with respect to each
Common Share that shall become outstanding between the Record Date and the
earliest of the Distribution Date, the Redemption Date and the Final Expiration
Date (as such terms are hereinafter defined), provided, however, that no Rights
shall be enabled, triggered or become exercisable, and no Shares Acquisition
Date or Distribution Date shall occur as a result of any of the following events
regardless of the number of shares Beneficially Owned by any of them (or any
group of any of them) before or after any such events: (1) the execution of the
Stock Purchase Agreement dated as of August 10, 2004 (the "Stock Purchase
Agreement") by or on behalf of the Company and NCFC Recapitalization, LLC
("NCFC"); (2) the execution by any "Investor" or any Affiliate or Associate
thereof (or by any group of any of them), or the acceptance by the Company or an
Affiliate thereof, of any "Definitive Subscription Documents" (as each of the
terms "Investor" and "Definitive Subscription Documents" are respectively
defined under the Stock Purchase Agreement); (3) the issuance of any Common
Shares to any Investor pursuant to the terms of either the Stock Purchase
Agreement or any Definitive Subscription Documents; (4) the completion of any
other transaction contemplated under the terms of either the Stock Purchase
Agreement or any Definitive Subscription Documents; or (5) the taking of any
action by any of them or any group of any of them under or in connection with
the Stock Purchase Agreement or any of the transactions contemplated thereby.

                 2. Section 1(a) of the Rights Agreement is amended to read as
follows:

                 "(a) "Acquiring Person" shall mean any Person (as such term is
hereinafter defined) who or which, together with all Affiliates and Associates
(as such terms are hereinafter defined) of such Person, shall be the Beneficial
Owner (as such term is hereinafter defined) of 10% or more of the Common Shares
of the Company then outstanding, but shall not include the Company, any
Subsidiary (as such term is hereinafter defined) of the Company, any employee
benefit plan of the Company or of any Subsidiary of the Company or any entity
holding Common Shares for or pursuant to the terms of any such plan.
Notwithstanding the foregoing, no Person shall become an "Acquiring Person" as
the result of an acquisition of Common Shares by the Company which, by reducing
the number of shares outstanding, increases the proportionate

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number of shares beneficially owned by such Person to 10% or more of the Common
Shares of the Company then outstanding; provided, however, that if a Person
shall become the Beneficial Owner of 10% or more of the Common Shares of the
Company then outstanding by reason of share purchases by the Company and shall,
after such share purchases by the Company, become the Beneficial Owner of any
additional Common Shares of the Company, then such Person shall be deemed to be
an "Acquiring Person." Notwithstanding the foregoing, if the Board determines in
good faith that a Person who would otherwise be an "Acquiring Person," as
defined pursuant to the foregoing provisions of this Section 1(a), has become
such inadvertently, and without any plan or intention to seek or affect control
of the Company, and such Person divests as promptly as practicable (without
exercising or retaining any power, including voting, with respect to such
shares) a sufficient number of Common Shares so that such Person would no longer
be an "Acquiring Person," as defined pursuant to the foregoing provisions of
this Section 1(a), then such Person shall not be deemed to be an "Acquiring
Person" for any purposes of this Agreement. Notwithstanding anything in this
Section 1(a) to the contrary, no Person, including but not limited to NCFC, any
Investor or any Affiliate or Associate of NCFC or any Investor, or any group of
any of them, shall be or become an Acquiring Person, and no Rights shall be
enabled, triggered or become exercisable, and no Shares Acquisition Date or
Distribution Date shall occur as a result of any of the following events
regardless of the number of shares Beneficially Owned by any of them (or any
group of any of them) before or after any such events: (1) the execution of the
Stock Purchase Agreement by or on behalf of the Company and NCFC; (2) the
execution by any Investor or any Affiliate or Associate thereof (or by any group
of any of them), or the acceptance by the Company or an Affiliate thereof, of
any Definitive Subscription Documents; (3) the issuance of any Common Shares to
any Investor pursuant to the terms of either the Stock Purchase Agreement or any
Definitive Subscription Documents; (4) the completion of any other transaction
contemplated under the terms of either the Stock Purchase Agreement or any
Definitive Subscription Documents; or (5) the taking of any action by any of
them or any group of any of them under or in connection with the Stock Purchase
Agreement or any of the transactions contemplated thereby. The entering into or
consummation of any transaction contemplated by the Stock Purchase Agreement
shall in no way enable, trigger or allow any Right to become exercisable
pursuant to any terms of this Rights Agreement."

                 3. Section 1(j) of the Rights Agreement is amended in its
entirety to read as follows:

                 "(j) "Final Expiration Date" shall mean the time immediately
prior to the "Closing", as that term is defined under the Stock Purchase
Agreement."

                 Executed as of the day and year first written above.

NORTH COUNTRY FINANCIAL                              REGISTRAR AND TRANSFER
CORPORATION                                          COMPANY

By:  /s/ C. James Bess                               By:  /s/ William P. Tatler
     ---------------------------------------              ----------------------
Name: C. James Bess                                  Name: William P. Tatler
Title: President and Chief Executive Officer         Title:  Vice President

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