Document:

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                                                                    EXHIBIT 10.2

                 STOCK ONLY STOCK APPRECIATION RIGHTS AGREEMENT

This AGREEMENT is entered into as of JUNE 4, 2008 by and between MBT Financial
Corp., a Michigan corporation ("MBT") and _______________ ("Employee").

                                    Recitals

A.   Employee is employed by MBT or a Subsidiary in a position MBT deems to be a
     key position.

B.   MBT's Board of Directors adopted the MBT Financial Corp. 2008 Stock
     Incentive Plan (the "Plan") effective May 1, 2008.

C.   MBT desires to award a Stock Only Stock Appreciation Right, herein after
     referred to as a SOSAR.

D.   In exchange for the award of the SOSAR, Employee is willing to agree to
     certain restrictions upon the conduct of Employee, which are set forth in
     Section 7 of this SOSAR Agreement.

E.   Capitalized terms used but not defined herein shall have the meaning
     defined for them in the Plan.

                                    Agreement

Now, Therefore, intending to be legally bound and in consideration of the mutual
covenants set forth herein, the parties hereto agree as follows:

1.   GRANT OF SOSAR. MBT hereby awards a SOSAR with respect to ______ Common
     Shares to Employee, subject to the terms and conditions stated herein and
     in the Plan. Employee has reviewed the Plan and agrees to be bound by the
     terms, conditions and restrictions set forth therein and in this Agreement
     as to exercise of the SOSAR.

2.   EXERCISE PRICE. The SOSAR shall be exercisable by Employee at the price of
     $8.53 per Common Share, the Fair Market Value of a Common Share on the date
     hereof.

3.   EXERCISE OF SOSAR. Employee may, in accordance with and subject to the
     terms of the Plan, exercise the SOSAR by giving written notice of exercise
     to the Company specifying the number of shares in respect of which the
     SOSAR is being exercised. Upon exercise and satisfaction of the tax
     withholding requirements, the Employee is entitled to receive Common Shares
     equal in value to the excess of the Fair Market Value of a Common Share on
     the exercise date over the Exercise Price multiplied by the number of
     SOSARs being exercised. The Company shall deliver to Employee such value in
     Common Shares rounded down to the nearest whole share with fractional
     shares paid in cash within sixty days following the exercise date.

<PAGE>

4.   SHARE WITHHOLDING OR REMITTANCE TO PAY WITHHOLDING TAX. In lieu of a cash
     payment, Employee shall have the discretion, by making an election, subject
     to the terms and limitations of Article 15.1 of the Plan, to have MBT
     withhold Common Shares upon exercise of the SOSAR.

5.   VESTING OF SOSAR. The SOSAR shall vest and be exercisable for up to a
     maximum number of corresponding Common Shares on and after the dates shown
     below, with the condition that Employee shall be employed by MBT Financial
     Corp. as of each such date in order to earn such vesting:

<TABLE>
<CAPTION>
Number of SOSARs      Date Vested
----------------   -----------------
<S>                <C>
      _____        December 31, 2008
      _____        December 31, 2009
      _____        December 31, 2010
</TABLE>

     Notwithstanding anything to the contrary in the Plan regarding vesting upon
     death, Disability, Change in Control or retirement, all unvested SOSARs
     shall immediately vest only upon and to the following extent:

          (1)  death,

          (2)  Disability

          (3)  involuntary termination of employment without Cause following a
               Change in Control; or

          (4)  resignation within 90 days of the occurrence of an event
               constituting Good Reason, which, for purposes hereof, shall mean:
               (a) a material reduction in job responsibilities, duties, and/or
               status within the Company, or (b) a reduction in base salary,
               unless such reduction is part of an across-the-board reduction in
               base salary of all officers of the Company.

          (5)  Retirement on or after attainment of age sixty-two (62).

     You will not be deemed to have resigned for Good Reason unless you execute,
within 30 days of your separation, a release of claims in a form substantially
similar to the form attached as Exhibit A hereto (the "Release").

6.   TERMINATION OF SOSAR. The right to exercise SOSARs granted herein shall
     terminate on the first to occur of: (a) June 4, 2018; (b) ninety days from
     the date of the Employee's termination of employment for any reason other
     than death, Disability, retirement, or for Cause; (c) upon termination for
     Cause; (d) one year from the date of the Employee's termination of
     employment due to death, Disability, or retirement; or (e) upon violation
     of the terms and conditions set forth under section 7 of this agreement.

7.   NONCOMPETITION, NONSOLICITATION AND BUSINESS PROTECTION.

     A.   NONCOMPETITION AGREEMENT AND NONSOLICITATION.

          1.   In view of Employee's importance to the success of MBT, Employee
               and MBT agree that MBT would likely suffer significant harm from
               Employee's competing with MBT or a Subsidiary during Employee's
               term of employment with MBT or a Subsidiary and for some period
               of time thereafter. Accordingly, Employee agrees that Employee
               shall not engage in competitive activities while employed by MBT
               or a Subsidiary and during the Restricted Period. Employee shall
               be deemed to engage in competitive

<PAGE>

               activities if he shall, without the prior written consent of MBT,
               render services directly or indirectly, as an employee, officer,
               director, consultant, advisor, partner or otherwise, for any
               organization or enterprise which competes directly or indirectly
               with the business of MBT or any Subsidiary in providing financial
               products or services (including, without limitation, banking,
               insurance, or securities products or services) to consumers and
               businesses, or directly or indirectly acquires any financial or
               beneficial interest in (except as provided in the next sentence)
               any organization which conducts or is otherwise engaged in a
               business or enterprise which competes directly or indirectly with
               the business of MBT or any Subsidiary in providing financial
               products or services (including, without limitation, banking,
               insurance or securities products or services) to consumers and
               businesses. Notwithstanding the preceding sentence, Employee
               shall not be prohibited from owning less than 1 percent of any
               publicly traded corporation, whether or not such corporation is
               in competition with MBT or a Subsidiary. For purposes of this
               Section 7 the term "Restricted Period" shall be the period of one
               year following termination for any reason of Employee's
               employment with MBT or a Subsidiary.

               During the Employee's employment by MBT or a Subsidiary, the
               covenants contained in this Section 7.A.1. shall apply without
               regard to geographic location. Following the termination of
               Employee's employment and during the Restricted Period, the
               covenants contained in this Section 7.A.1. shall be limited to
               those counties in which MBT or a Subsidiary has branch banking or
               other offices, and all contiguous counties to any such county.

          2.   While employed by MBT or a Subsidiary and during the Restricted
               Period, Employee agrees that Employee shall not, in any manner,
               directly or indirectly, (i) solicit by mail, by telephone, by
               personal meeting, or by any other means, either directly or
               indirectly, any customer or prospective customer of MBT or a
               Subsidiary to whom Employee provided services, or for whom
               Employee transacted business, or whose identity becomes known to
               Employee in connection with Employee's services to MBT or a
               Subsidiary (including employment with or services to any
               predecessor or successor entities), to transact business with a
               person or an entity other than MBT or a Subsidiary or to refuse
               or refrain from doing any business with MBT or a Subsidiary or
               (ii) interfere with or damage (or attempt to interfere with or
               damage) any relationship between MBT or a Subsidiary and any such
               customer or prospective customer. The term "solicit" as used in
               this Agreement means any communication of any kind whatsoever,
               inviting, encouraging or requesting any person to take or refrain
               from taking any action with respect to the business of MBT or a
               Subsidiary.

          3.   While employed by MBT or a Subsidiary and during the Restricted
               Period, Employee agrees that Employee shall not, in any manner,
               directly or indirectly, solicit any person who is an employee of
               MBT or any Subsidiary to apply for or accept employment or a
               business opportunity with any other person or entity.

          4.   The parties agree that nothing herein shall be construed to limit
               or negate the common law of torts or trade secrets where it
               provides broader protection than that provided herein.

<PAGE>

     B.   CONFIDENTIAL INFORMATION.

          Employee has obtained and may obtain confidential information
          concerning the businesses, operations, financial affairs,
          organizational and personnel matters, policies, procedures and other
          non-public matters of MBT and its Subsidiaries, that is not generally
          disclosed to persons not employed by MBT or its Subsidiaries. Such
          information (referred to herein as the "Confidential Information") may
          have been or may be provided in written form or orally. Employee shall
          not disclose to any other person the Confidential Information at any
          time during his employment with MBT or a Subsidiary or after the
          termination of his employment, provided that Employee may disclose
          such Confidential Information only to a person who is then a director,
          officer, employee, partner, attorney or agent of MBT or a Subsidiary
          who, in Employee's reasonable good faith judgment, has a need to know
          the Confidential Information.

     C.   EFFECT OF BREACH; MBT'S REMEDIES; TRANSFER OF OPTION

          1.   The right to exercise the SOSAR shall terminate upon Employee's
               breach of any of Employee's obligations set forth in this Section
               7.

          2.   Employee acknowledges that the award of the SOSAR constitutes
               valuable consideration to Employee and that a violation on
               Employee's part of this Section 7 would cause immeasurable and
               irreparable damage to MBT. Accordingly, Employee agrees that MBT
               shall be entitled to injunctive relief in any court of competent
               jurisdiction for any actual or threatened violation of any of the
               provisions of this Section 7, in addition to any other remedies
               it may have.

          3.   In addition to MBT's right to seek injunctive relief as set forth
               in subsection 2 above of this Section 7.C., in the event that
               Employee shall violate the terms and conditions of this Section
               7, MBT may: (i) make a general claim for damages and (ii)
               terminate any payments or benefits payable by MBT, if applicable,
               to Employee.

          4.   The Board shall be responsible for determining whether Employee
               shall have violated this Section 7, and in the absence of
               Employee's ability to show that the Board has acted in bad faith
               and without fair dealing, such decision will be final and
               binding. Upon the request of Employee, MBT shall provide an
               advance opinion as to whether a proposed activity would violate
               the provisions of Section 7 of this SOSAR Agreement.

          5.   Employee's obligations under this Section 7 shall be unaffected
               by any transfer of the SOSAR, whether permitted under the Plan,
               or otherwise.

8.   MISCELLANEOUS. This SOSAR Agreement constitutes the entire agreement among
     the parties with respect to the subject matter hereof and supersedes all
     prior agreements and understandings, whether written or oral. This SOSAR
     Agreement may only be amended in writing signed by the parties hereto. This
     SOSAR Agreement shall be enforced and construed in accordance with the laws
     of the State of Michigan. The captions herein are for convenience of
     reference only and shall not be deemed in any manner to modify, explain,
     enlarge or restrict any of the provisions of this SOSAR Agreement. This
     SOSAR Agreement shall be binding upon and inure to the benefit of MBT,
     Employee and their respective heirs, personal representatives, successors
     and assigns.

IN WITNESS WHEREOF, THE PARTIES HAVE EXECUTED THIS Agreement as of the date
first set forth above.

<PAGE>

MBT FINANCIAL CORP.

By:
    ---------------------------

EMPLOYEE

-------------------------------

                          ELECTION TO NAME BENEFICIARY

The undersigned hereby names _____________________________, as beneficiary of
this SOSAR Grant to exercise and receive the shares the subject hereof upon my
death.

-------------------------------------      -------------------------------------
Signature                                  Date

(Note: In the absence of a designation of a beneficiary upon the death of the
holder, this SOSAR Grant may be exercised, subject to the terms of the 2008
Stock Incentive Plan regarding termination of SOSARs and other matters, by the
personal representative of the estate of the deceased SOSAR holder.)

<PAGE>

                                                                       Exhibit A

Release of Claims

     I acknowledge that I have had twenty-one days to decide whether to execute
this Release of Claims ("Release") and that I have been advised in writing to
consult an attorney before executing this Release. I acknowledge that I have
seven days from the date I execute this Release to revoke my signature. I
understand that if I choose to revoke this Release I must deliver my written
revocation to the Company before the end of the seven-day period.

     I, for myself, my heirs, successors, and assigns do hereby settle, waive,
and release the Company ("the Company") and any of its past and present
officers, owners, stockholders, partners, directors, agents, employees,
successors, predecessors, assigns, representatives, attorneys, divisions,
subsidiaries, or affiliates from any and all claims, charges, complaints,
rights, demands, actions, and causes of action of any kind or character, in
contract, tort, or otherwise, based on actions or omissions occurring in the
past and/or present, and regardless of whether known or unknown to me at this
time, including those not specifically mentioned in this Release. Among the
rights, claims, and causes of action which I give up under this Release are
those arising in connection with my employment and the termination of my
employment, including rights or claims under federal, state and local fair
employment practice or discrimination laws (including the various Civil Rights
Acts, the Age Discrimination in Employment Act, the Equal Pay Act, and any
similar state laws of the State of Michigan), laws pertaining to breach of
employment contract, wrongful termination or other wrongful treatment, and any
other laws or rights relating to my employment with the Company and the
termination of that employment. I acknowledge that I am aware of my rights under
the Age Discrimination in Employment Act, and that I am knowingly and
voluntarily waiving and releasing any claim of age discrimination which I may
have under that statute as part of this Release. This agreement does not waive
or release any rights, claims, or causes of action that may arise from acts or
omissions occurring after the date I execute this Release, nor does this
agreement waive or release any rights, claims or causes of action relating to
(A) indemnification from the Company and its affiliates with respect to my
activities on behalf of the Company and its affiliates prior to my termination
of employment, (B) compensation or benefits to which I am entitled under any
compensation or benefit plans of the Company or its affiliates or (C) amounts to
which I am entitled pursuant to the Agreement to which a form of this Release of
Claims was attached as Exhibit A. Except as contemplated by the preceding
sentence, I agree not to bring or join any lawsuit or file any claim against the
Company in any court relating to my employment or the termination of my
employment.<PAGE>

                                                                    EXHIBIT 10.3

                            MBT FINANCIAL CORPORATION

                         RESTRICTED SHARE UNIT AGREEMENT

RESTRICTED SHARE UNIT AGREEMENT (the "Agreement") made as of the ____ day of
_______, ____ (the "Grant Date"), between MBT Financial Corporation, a Michigan
corporation ("MBT"), and __________________ (the "Participant").

RECITALS

A.   Employee is employed by MBT or a Subsidiary in a position MBT deems to be a
     key position.

B.   MBT's Board of Directors adopted the MBT Financial Corp. 2008 Stock
     Incentive Plan (the "Plan") effective May 1, 2008.

C.   MBT desires to award restricted share units ("RSUs") to Employee under the
     Plan subject to the terms and conditions of the Plan and this Agreement as
     set forth below.

D.   Capitalized terms used but not defined herein shall have the meaning
     defined for them in the Plan.

AGREEMENT

Now, therefore, intending to be legally bound and in consideration of the mutual
covenants set forth herein, the parties hereto agree as follows:

     1.   GRANT OF PERFORMANCE RESTRICTED SHARE UNITS: MBT hereby grants to the
          Participant as of the date hereof (the "Grant Date") an aggregate of
          ________ RSUs. Each RSU shall be equivalent to one Common Share of
          MBT. The grant is in all respects limited and conditioned as
          hereinafter provided, and is subject to the terms and conditions of
          the Plan now in effect as they may be amended from time to.

     2.   PERFORMANCE PERIOD: The Performance Period for the RSUs awarded herein
          shall be the three year period beginning _____________ and ending
          ____________________.

     3.   PERFORMANCE SCHEDULE AND VESTING OF RSUS: RSUs awarded shall vest as
          of the last day of the Performance Period in accordance with the
          following Performance Schedule based on MBT's three-year cumulative
          fully diluted earnings per share ("EPS") computed under Generally
          Accepted Accounting Principles (GAAP) during the Performance Period.
          The Compensation Committee of the Board of Directors reserves the
          right to adjust the EPS presented in the annual report for
          extraordinary transactions which impact EPS to ensure the pay for
          performance relationship. No RSUs will be considered vested and earned
          for payment if MBT's three-year cumulative EPS during the Performance
          Period is less than $_.___.

<PAGE>

<TABLE>
<CAPTION>
    Annual EPS        Three-Year Cumulative   Percent
Growth Rate During    Fully Diluted EPS for     RSUs
Performance Period   the Performance Period    Vested
------------------   ----------------------   -------
<S>                  <C>                      <C>
--%                            $--              100%

--%                            $--               90%

--%(1)                         $--               80%

--%                            $--               70%

--%                            $--               60%

--%                            $--               50%
</TABLE>

(1)  Target annual EPS growth rate. At this level of performance competitive
     target level of long-term compensation will be achieved.

          Participant must be actively employed by MBT as of the end of the
          Performance Period to be eligible to vest in and receive any payment
          of RSUs except as noted in Section 7 of this Agreement. Actual vested
          percentage rates will be interpolated from the above Performance
          Schedule using the actual three-year cumulative fully diluted
          cumulative EPS achieved at the end of the Performance Period.

     4.   DIVIDEND EQUIVALENTS: If any dividends are paid with respect to
          Commons Shares of MBT during the Performance Period, MBT will accrue
          dividend equivalents on the RSUs awarded under this agreement and
          annually credit each Participant's account in the form of additional
          RSUs. The amount of additional RSUs will be calculated based on the
          accumulated dividend payments made on MBT Common shares during the
          calendar year and the Fair Market Value of MBT Common Shares as of the
          last day of each calendar year of the Performance Period. Dividend
          equivalents accrued in the form of additional RSUs shall vest in
          accordance with the Performance Schedule defined in this Agreement.

     5.   PAYMENT OF EARNED RSUS: Vested RSUs rounded up to the nearest whole
          unit shall be converted to Common Shares as of the last day of the
          Performance Period. Stock certificates (the "Certificate") evidencing
          the conversion of RSUs into Common Shares shall be issued as of the
          last day of the Performance Period and registered in the Participant's
          name. Subject to Section 6 of this Agreement, Certificates
          representing the unrestricted shares of MBT Common Shares will be
          delivered to the Participant as soon as practicable after the last day
          of the Performance Period. RSUs which do not vest as of the last day
          of the Performance Period will be forfeited.

     6.   TAX WITHHOLDING OBLIGATIONS. As a condition of delivery of Common
          Shares pursuant to Section 5 of this Agreement, Participant shall be
          required to deposit with MBT an amount of cash equal to the amount
          determined by MBT to satisfy any federal, state and local tax
          withholding requirements. In lieu of a cash payment, Participant shall
          have the discretion, by making the election provided in Section XI (b)
          of the Plan, and subject to the terms and limitations of Section XI
          (b) of the Plan, to have MBT withhold Common Shares upon settlement of
          the RSU award, or to deliver previously owned Common Shares upon the
          settlement of the RSU award, to pay a required tax withholding amount.

<PAGE>

     7.   TERMINATION AND FORFEITURE OF RSUS: The Participant's right to receive
          unvested RSUs shall terminate in whole and forfeit upon termination of
          employment with MBT or its subsidiaries for any reason, except in the
          event of Participant's death, Permanent Disability or Retirement. If
          the Participant's termination with MBT meets one of the listed
          exceptions, then the Participant's unvested RSUs will remain subject
          to the Performance Schedule during the Performance Period provided in
          this Agreement and the number of RSUs subject to vesting at the end of
          the Performance Period will be reduced proportionate to the number of
          months rounded to the nearest whole month the Participant was actively
          employed during the Performance Period.

     8.   EARLY VESTING UPON CHANGE IN CONTROL: Notwithstanding the other
          vesting provisions of section 3, upon the effective date of a Change
          in Control as defined under the MBT Financial Corp. 2008 Stock
          Incentive Plan, all of the RSUs granted under this agreement shall
          become immediately and unconditionally vested.

     9.   NONCOMPETITION, NONSOLICITATION AND BUSINESS PROTECTION.

          A.   Noncompetition Agreement and Nonsolicitation.

               1.   In view of Participant's importance to the success of MBT,
                    Participant and MBT agree that MBT would likely suffer
                    significant harm from Participant's competing with MBT or a
                    Subsidiary during Participant's term of employment with MBT
                    or a Subsidiary and for some period of time thereafter.
                    Accordingly, Participant agrees that Participant shall not
                    engage in competitive activities while employed by MBT or a
                    Subsidiary and during the Restricted Period. Participant
                    shall be deemed to engage in competitive activities if he
                    shall, without the prior written consent of MBT, render
                    services directly or indirectly, as an Participant, officer,
                    director, consultant, advisor, partner or otherwise, for any
                    organization or enterprise which competes directly or
                    indirectly with the business of MBT or any Subsidiary in
                    providing financial products or services (including, without
                    limitation, banking, insurance, or securities products or
                    services) to consumers and businesses, or directly or
                    indirectly acquires any financial or beneficial interest in
                    (except as provided in the next sentence) any organization
                    which conducts or is otherwise engaged in a business or
                    enterprise which competes directly or indirectly with the
                    business of MBT or any Subsidiary in providing financial
                    products or services (including, without limitation,
                    banking, insurance or securities products or services) to
                    consumers and businesses. Notwithstanding the preceding
                    sentence, Participant shall not be prohibited from owning
                    less than 1 percent of any publicly traded corporation,
                    whether or not such corporation is in competition with MBT
                    or a Subsidiary. For purposes of this Section 9 the term
                    "Restricted Period" shall be the period of one year
                    following termination for any reason of Participant's
                    employment with MBT or a Subsidiary.

                    During the Participant's employment by MBT or a Subsidiary,
                    the covenants contained in this Section 9.A.1. shall apply
                    without regard to geographic location. Following the
                    termination of Participant's employment and during the
                    Restricted Period, the covenants contained in this Section
                    9.A.1. shall be limited to those counties in which MBT or a
                    Subsidiary has branch banking or other offices, and all
                    contiguous counties to any such county.

               2.   While employed by MBT or a Subsidiary and during the
                    Restricted Period, Participant agrees that Participant shall
                    not, in any manner, directly or indirectly, (i) solicit by
                    mail, by telephone, by personal meeting, or by any other
                    means, either directly or indirectly, any customer or
                    prospective customer of MBT or a Subsidiary to whom
                    Participant provided services, or for whom Participant
                    transacted business, or whose identity becomes known to
                    Participant in connection with Participant's services to MBT
                    or a Subsidiary (including employment with or services to
                    any predecessor or successor entities), to transact business

<PAGE>

                    with a person or an entity other than MBT or a Subsidiary or
                    to refuse or refrain from doing any business with MBT or a
                    Subsidiary or (ii) interfere with or damage (or attempt to
                    interfere with or damage) any relationship between MBT or a
                    Subsidiary and any such customer or prospective customer.
                    The term "solicit" as used in this Agreement means any
                    communication of any kind whatsoever, inviting, encouraging
                    or requesting any person to take or refrain from taking any
                    action with respect to the business of MBT or a Subsidiary.

               3.   While employed by MBT or a Subsidiary and during the
                    Restricted Period, Participant agrees that Participant shall
                    not, in any manner, directly or indirectly, solicit any
                    person who is a Participant of MBT or any Subsidiary to
                    apply for or accept employment or a business opportunity
                    with any other person or entity.

               4.   The parties agree that nothing herein shall be construed to
                    limit or negate the common law of torts or trade secrets
                    where it provides broader protection than that provided
                    herein.

          B.   Confidential Information.

               Participant has obtained and may obtain confidential information
               concerning the businesses, operations, financial affairs,
               organizational and personnel matters, policies, procedures and
               other non-public matters of MBT and its Subsidiaries, and those
               of third parties that is not generally disclosed to persons not
               employed by MBT or its Subsidiaries. Such information (referred
               to herein as the "Confidential Information") may have been or may
               be provided in written form or orally. Participant shall not
               disclose to any other person the Confidential Information at any
               time during his employment with MBT or a Subsidiary or after the
               termination of his employment, provided that Participant may
               disclose such Confidential Information only to a person who is
               then a director, officer, Participant, partner, attorney or agent
               of MBT or a Subsidiary who, in Participant's reasonable good
               faith judgment, has a need to know the Confidential Information.

          C.   Effect of Breach; MBT's Remedies

               1.   The RSUs awarded under this Agreement shall terminate
                    immediately upon Participant's breach of any of
                    Participant's obligations set forth in this Section 9.

               2.   Participant acknowledges that the award of the RSU
                    constitutes valuable consideration to Participant and that a
                    violation on Participant's part of this Section 9 would
                    cause immeasurable and irreparable damage to MBT.
                    Accordingly, Participant agrees that MBT shall be entitled
                    to injunctive relief in any court of competent jurisdiction
                    for any actual or threatened violation of any of the
                    provisions of this Section 8, in addition to any other
                    remedies it may have.

               3.   In addition to MBT's right to seek injunctive relief as set
                    forth in subsection 2 above of this Section 9.C., in the
                    event that Participant shall violate the terms and
                    conditions of this Section 9, MBT may: (i) make a general
                    claim for damages and (ii) terminate any payments or
                    benefits payable by MBT, if applicable, to Participant.

               4.   The Board shall be responsible for determining whether
                    Participant shall have violated this Section 9, and in the
                    absence of Participant's ability to show that the Board has
                    acted in bad faith and without fair dealing; such decision
                    will be final and binding. Upon the request of Participant,
                    MBT shall provide an advance opinion as to whether a
                    proposed activity would violate the provisions of Section 9
                    of this RSU Agreement.

     10.  RESTRICTION ON TRANSFERABILITY. Until the RSUs are vested as provided
          above, they may not be sold, transferred, pledged, assigned, or
          otherwise alienated at any time. Any attempt to do so contrary to the
          provisions hereof shall be null and void.

<PAGE>

     11.  RIGHTS AS SHAREHOLDER. The Participant shall not have voting or any
          other rights as a shareholder of MBT with respect to the RSUs. Upon
          settlement of the RSUs into Common Shares, the Participant will obtain
          full voting and other rights as a shareholder of MBT.

     12.  ADMINISTRATION. The Committee shall have the power to interpret the
          Plan and this Agreement and to adopt such rules for the
          administration, interpretation, and application of the Plan as are
          consistent therewith and to interpret or revoke any such rules. All
          actions taken and all interpretations and determinations made by the
          Committee shall be final and binding upon the Participant, MBT, and
          all other interested persons. No member of the Committee shall be
          personally liable for any action, determination, or interpretation
          made in good faith with respect to the Plan or this Agreement.

     13.  EFFECT ON OTHER EMPLOYEE BENEFIT PLANS. The value of the RSUs granted
          pursuant to this Agreement shall not be included as compensation,
          earnings, salaries, or other similar terms used when calculating the
          Participant's benefits under any employee benefit plan sponsored by
          the MBT or any subsidiary except as such plan otherwise expressly
          provides.

     14.  NO EMPLOYMENT RIGHTS. The award of RSUs pursuant to this Agreement
          shall not give the Participant any right to remain employed by MBT or
          a subsidiary.

     15.  SEVERABILITY. Any Section of this Agreement (or part of such a
          Section) so declared to be unlawful or invalid shall, if possible, be
          construed in a manner which will give effect to the terms of such
          Section or part of a Section to the fullest extent possible while
          remaining lawful and valid.

     16.  CONSTRUCTION. The RSUs are being issued pursuant to Section 8 (Stock
          Awards) of the Plan and are subject to the terms of the Plan. A copy
          of the Plan has been given to the Participant, and additional copies
          of the Plan are available upon request during normal business hours at
          the principal executive offices of MBT. To the extent that any
          provision of this Agreement violates or is inconsistent with an
          express provision of the Plan, the Plan provision shall govern and any
          inconsistent provision in this Agreement shall be of no force or
          effect.

     17.  MISCELLANEOUS.

          (a)  This Agreement constitutes the entire agreement among the parties
               with respect to the subject matter hereof and supersedes all
               prior agreements and understandings, whether written or oral.
               This Agreement may only be amended in writing signed by the
               parties hereto.

          (b)  The Board may terminate, amend, or modify the Plan; provided,
               however, that no such termination, amendment, or modification of
               the Plan may in any way adversely affect the Participant's rights
               under this Agreement, without the Participant's written approval.

          (b)  This Agreement shall be subject to all applicable laws, rules,
               and regulations, and to such approvals by any governmental
               agencies or national securities exchanges as may be required. If
               all or any part of this Agreement or the Plan is declared by any
               court or governmental authority to be unlawful or invalid, such
               unlawfulness or invalidity shall not invalidate any portion of
               this Agreement or the Plan not declared to be unlawful or
               invalid.

<PAGE>

          (c)  All obligations of MBT under the Plan and this Agreement, with
               respect to the PSUs, shall be binding on any successor to MBT,
               whether the existence of such successor is the result of a direct
               or indirect purchase, merger, consolidation, or otherwise, of all
               or substantially all of the business and/or assets of MBT.

          (d)  To the extent not preempted by federal law, this Agreement shall
               be governed by, and construed in accordance with, the laws of the
               State of Michigan.

IN WITNESS WHEREOF, the parties have executed and delivered this Agreement
effective as of the day and year first above written.

MBT FINANCIAL CORP.                             EMPLOYEE

By:
    ---------------------------               ---------------------------------

                          ELECTION TO NAME BENEFICIARY

The undersigned hereby names _______________________________ as beneficiary of
this Restricted Share Unit Award to receive any earned award paid in accordance
with the terms of this agreement and the Plan in the event of my death prior the
end of the referenced performance vesting period.

--------------------------------                 -------------------------------
Signature                                        Date

(Note: In the absence of a beneficiary designation, any award paid under this
agreement will be made to the estate of the deceased participant)

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00146-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00146-of-00352.parquet"}]]