Document:

CITY
      CENTRAL BANCORP, INC.

    2006
      STOCK INCENTIVE PLAN

    

    1. PURPOSE

     

    The
      2006
      Stock Incentive Plan (“Plan”) is intended to promote shareholder value by (a)
      enabling City Central Bancorp, Inc. (“Company”) and its affiliates to attract
      and retain the best available individuals for positions of substantial
      responsibility; (b) providing additional incentive to such persons by affording
      them an equity participation in the Company; (c) rewarding those directors,
      executive officers, employees and other non-employee shareholders for their
      contributions to the Company or City Central Bank (“Bank”); and (d) promoting
      the success of the Company’s business by aligning the financial interests of
      directors, executive officers and employees providing personal services to
      the
      Company or its affiliates with long-term shareholder value. 

     

    2. DEFINITIONS

     

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

     

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

     

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

     

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

     

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

     

    (F) Except
      as
      otherwise defined in a specific Stock Option Agreement, “Change of Control”
means:

     

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

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

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

     

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

     

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

     

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

     

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

     

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

     

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

     

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

     

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

     

    
      
         

      

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

     

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

     

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

     

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

     

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

     

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

     

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

     

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

     

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

     

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

     

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

     

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

     

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

     

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

     

    
      
         

      

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

     

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

     

    3. SHARES
      AVAILABLE UNDER THE PLAN

     

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

     

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

     

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

     

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

     

    4. ADMINISTRATION

     

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

     

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

     

    
      
         

      

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

     

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

     

    5. ELIGIBILITY

     

    Consistent
      with the purposes of the Plan, the Committee shall have the power (except as
      may
      be delegated as permitted herein) to select the employees and other individuals
      performing services for, or making contributions to, the Company and its
      Affiliates who may participate in the Plan and be granted Options under the
      Plan. Only persons who are employees of the Company or a Parent or a Subsidiary
      shall be eligible to receive ISO awards under the Plan. For purposes of this
      Plan, the term “employee” means an individual employed by the Company or a
      Subsidiary whose income from those entities is subject to Federal Income
      Contributions Act (“FICA”) withholding. 

     

    6. TERMS
      AND CONDITIONS APPLICABLE TO OPTIONS UNDER THE PLAN

     

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

     

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

     

    
      
         

      

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

     

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

     

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

     

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

     

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

     

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

     

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

     

    
      
         

      

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

     

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

     

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

     

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

     

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

     

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

     

    
      
         

      

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

     

    (N) Change
      of Control.
      Unless
      the Committee shall determine otherwise at the time of grant with respect to
      a
      particular Option, all Options outstanding as of the date of a Change of Control
      or an agreement to effect a Change of Control, and which are not then
      exercisable and vested, shall become fully exercisable and vested to the full
      extent of the original grant; provided, however, that prior to the third
      anniversary of the date that the Bank opens for business, accelerated vesting
      shall not apply upon a Change of Control with respect to options held by (i)
      outside directors or (ii) executive officers, to the extent that the officers
      own in the aggregate more than 10% of the issued and outstanding shares of
      Stock
      at the time of the Change of Control. The
      determination as to whether a Change of Control or an agreement to effect a
      Change of Control has occurred shall be made by the Committee and shall be
      conclusive and binding.

     

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

     

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

     

    7. AMENDMENT
      AND TERMINATION OF THE PLAN

     

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

     

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

     

    
      
         

      

      
        8

        
          

        

      

      
         

      

    

     

    8. LEGALITY
      OF GRANT

     

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

     

    9. NO
      EMPLOYMENT/SERVICE RIGHTS

     

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

     

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

     

    10. EFFECTIVE
      DATE

     

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

     

    11. RESERVATION
      OF SHARES

     

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

     

    12. MINIMUM
      CAPITAL REQUIREMENTS

     

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

     

    
      
         

      

      
        9

        
          

        

      

      
         

      

    

     

    13. ADMINISTRATION
      OF PLAN

     

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

     

    14. GENERAL

     

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

     

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

     

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

     

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

     

    
      
         

      

      
        10

        
          

        

      

      
         

      

    

     

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

     

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

     

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

     

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

     

    
      
         

      

      
        11

        
          

        

      

      
         

      

    

    IN
      WITNESS WHEREOF,
      the
      Company, acting by and through its duly authorized officer, has executed this
      Plan on this the ____ day of ____________, 2006.

     

     

    
      	 	 	 
	 	CITY
              CENTRAL BANCORP, INC.
	 
 	 
 	 
 
	 	By:  	 
	 	
              
Satish
              Jasti, President
	 	 

      
        
           

        

        
          12EXECUTIVE
      EMPLOYMENT AGREEMENT

    

    This
      EXECUTIVE
      EMPLOYMENT AGREEMENT
      (“Agreement”) is made and entered into as of this 17th day of December, 2005, by
      and between CITY
      CENTRAL BANCORP, INC. (F/K/A DE NOVO HOLDINGS, INC.),
      a
      Michigan corporation (hereafter the “Company”) and SATISH
      B. JASTI,
      a
      resident of West Bloomfield Township, Michigan (hereafter the
“Executive”).

    

    WHEREAS,
      the
      Executive has considerable experience, expertise and training in management
      related to banking and services offered by the Company and to be offered through
      a proposed subsidiary bank, City Central Bank (“Bank”); and

    

    WHEREAS,
      the
      Company desires and intends to cause the Executive to be employed as President
      and Chief Executive Officer of both the Bank and the Company pursuant to the
      terms and conditions set forth in this Agreement; 

    

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

    

    WHEREAS,
      both
      the Company and the Executive has agreed to certain changes to this Agreement
      since the date the Agreement was executed, which changes are contained in this
      amended and restated agreement.

    

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

    

    DURATION

    

    1. This
      Agreement shall continue in full force and effect for a period beginning on
      the
      date the Bank opens for business (“Hire Date”) and will expire and terminate by
      its own terms on the later of September 30, 2009 or as of a date three (3)
      years
      after the date that the Hire Date (“Expiration Date”) unless either party elects
      to terminate this Agreement prior to the Expiration Date, in accordance with
      the
TERMINATION
      provisions
      set forth below.

    

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

    
      
         

      

      
        1

        
          

        

      

      
         

      

    

     

    COMPENSATION

    

    3. All
      payments of salary and other compensation to the Executive shall be payable
      in
      accordance with the ordinary payroll and other policies and procedures of the
      Company or the Bank, as applicable.

    

    a. For
      the
      first year after the Opening Date, the Executive will receive a base salary
      of
      $140,000.00, payable on a semi-monthly basis in equal amounts of $5833.33 and
      appropriately prorated for partial months at the commencement and end of the
      term of the Agreement..

     

    b. During
      the remaining term of this Agreement, the Executive’s annual base salary shall
      be reviewed by the Company’s Board of Directors as of the 31st
      day of
      December of each subsequent year, as provided in Section 6 of this Agreement;
      provided, however, in no event shall the Executive’s base salary be less than
      the base salary and benefits stated in sections 3, 4 and 5.

    

    c. Before
      the Opening Date, a disinterested majority of the Board of Directors of the
      Company will consider the adoption of an executive discretionary performance
      based bonus plan. 

    

    d. At
      conclusion of the initial stock offering of the Company, the Company shall
      grant
      to the Executive a number of options to purchase shares of common stock of
      the
      Company having a term of ten (10) years from the date of the grant of such
      options. Such options, upon the grant of the options, will enable the Executive
      to purchase a number of shares of Company common stock equal to a minimum of
      33,000 shares or three percent (3%) of the total number of shares of common
      stock issued in the initial stock offering. The exercise price for the stock
      options to be received by the Executive shall be equal to the offering price
      of
      the Company common stock in its initial offering. The terms of the Company’s
      stock option plan shall control in the event of any conflict with the terms
      of
      this Agreement. The options shall be evidenced by a stock option agreement,
      which shall have such terms as are consistent with those set forth above and
      such additional terms as may be set forth in the stock option agreement or
      the
      stock option plan pursuant to which the options are granted. 

    

    Both
      the
      Company and the Executive acknowledge that such compensation and the other
      covenants and agreements of the Company contained herein are fair and adequate
      compensation for the Executive’s services, and for the mutual promises described
      below.

    

    e. The
      Company or Bank shall also provide the Executive with a salary continuation
      plan, with such terms as are approved by Executive and the Board of Directors
      of
      the Bank or the Company, as the case might be. The Company shall also permit
      Executive to participate in any 401K plan established by the Company or the
      Bank.

    

    f. The
      Company or Bank shall also provide the Executive with term life insurance
      coverage in an amount not less than $500,000 and having a term not less than
      ten
      years.

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

     

    4. The
      Company and the Executive acknowledge and agree that the Company shall provide
      the Executive with the use of an automobile or a car allowance of not less
      than
      $750 per month. If the executive uses his own car, he will make the Company
      or
      Bank additional insured on his insurance policy. The Company shall also
      reimburse the Executive for all reasonable expenses, including, but not limited
      to, membership dues, travel expenses, lodging expenses, meals and entertainment
      expenses, including without limitation, all reasonable expenses incurred in
      the
      performance of his duties and obligations under this Agreement, provided,
      however, that the Executive shall be required to submit receipts or other
      acceptable documentation to the Cashier, Chief Financial Officer or other
      appropriate bank officer to verify such expenses prior to any reimbursements.
      The Company or the Bank shall pay, or reimburse Executive, for membership fees
      and monthly membership dues, up to a maximum amount of $500 per month at country
      club or business club, which must be acceptable to the Board of
      Directors.

    

    5. The
      Company and the Executive acknowledge and agree that, subject to the provisions
      of Paragraph 7 of this Agreement, the Executive shall be entitled to receive
      as
      partial consideration for this Agreement, and the Company or the Bank shall
      be
      obligated to provide, employee and dependent health insurance, employee and
      dependent dental insurance, paid sick leave and four (4) weeks of paid vacation
      per year, and any additional benefits provided to all Bank employees all in
      accordance with the Bank’s employment policies. 

     

    6. The
      Company and the Executive acknowledge that, during the term of employment of
      the
      Executive pursuant to this Agreement, the Executive’s compensation will be
      subject to an annual review in consistance safe and sound banking practices
      and
      in the discretion of the Board of Directors of the Company.

    

    7. The
      Executive acknowledges and agrees that any employee benefits provided to the
      Executive by the Company incident to the Executive’s employment are governed by
      the applicable plan documents, summary plan descriptions or employment policies,
      and may be modified, suspended or revoked at any time, in accordance with the
      terms and provisions of the applicable documents.

    

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

    

    RESPONSIBILITIES

    

    9. The
      Executive acknowledges and agrees that he shall be employed as President and
      Chief Executive Officer of both the Bank and of the Company. The Executive
      covenants and agrees that he will faithfully devote his best efforts and his
      primary focus to his positions with the Company, the Bank and their respective
      subsidiaries. 

    

    10. The
      Executive acknowledges and agrees that the duties and responsibilities of the
      Executive required by his positions as President and Chief Executive Officer
      of
      both the Bank and the Company are wholly within the discretion of their
      respective Boards of Directors, and may be modified, or new duties and
      responsibilities imposed by the Company’s Board of Directors, at any time,
      without the approval or consent of the Executive. However, these new duties
      and
      responsibilities may not constitute immoral or unlawful acts. In addition,
      the
      new duties and responsibilities must be consistent with the Executive’s role as
      President or Chief Executive Officer of a financial
      institution.

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

     

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

    

    NONCOMPETITION

    

    12. The
      Executive acknowledges and agrees that he will not, at any time during the
      existence of the employment relationship between the Company or Bank, directly
      or indirectly engage in competition with the Company or Bank, and the Executive
      will not on his own behalf, or as another’s agent, employee, partner,
      shareholder or otherwise, engage in any of the same or similar duties and/or
      responsibilities required by the Executive’s positions with the Company and the
      Bank, other than as an employee of the Company or the Bank pursuant to this
      Agreement, or as specifically approved by the Board of Directors.

    

    The
      Executive covenants and agrees that for a period of one year subsequent to
      a
      voluntary termination of this Agreement by the Executive, other than as a result
      of a “constructive termination” as defined in Paragraph 17, the Executive shall
      not directly or indirectly engage in competition with the Company or the Bank,
      within Oakland County (herein after referred to as the “post voluntary
      termination non compete area”) and the Executive will not on his own behalf, or
      as another’s agent, employee, partner, shareholder or otherwise, engage, within
      the post voluntary termination non compete area in any of the same or similar
      duties and/or responsibilities required by the Executive’s positions with the
      Company or the Bank. The Executive acknowledges and agrees that the rights
      provided by this Paragraph to the Company are cumulative with other rights
      granted the Company under this Agreement. The Company covenants and agrees
      that
      if it chooses to enforce the provisions of this Paragraph, the Executive shall
      be entitled to payment of $140,000.00 or the equivalent of the Executive’s then
      current annual salary, whichever is greater, less statutory payroll deductions,
      payable in twenty-four (24) equal disbursements in accordance with the Company’s
      ordinary payroll policies and procedures, beginning with the first payroll
      after
      the termination becomes effective.

    

    If
      the
      Company believes, in good faith after consultation with its counsel, that
      Executive is in violation or breach of this Agreement, the Company may refuse
      to
      make further non-compete payments under this Paragraph 12 and may seek full
      restitution of all non-compete payments previously paid by the Company to
      Executive up to and including the date of such violation or breach by
      Executive.

    

    The
      Executive also acknowledges and agrees that in exchange for the non competition
      agreement set forth in this Paragraph, the Executive will receive substantial,
      valuable consideration including: (i) confidential trade secret and proprietary
      information relating to the identity and special needs of the Company’s and
      Bank’s current and prospective customers, the Company’s and Bank’s current and
      prospective services, the Company’s and Bank’s business projections and market
      studies, the Company’s and Bank’s business plans and strategies, the Company’s
      and Bank’s studies and information concerning special services unique to the
      Company and the Bank; (ii) employment; and (iii) compensation and benefits
      as described in this Agreement.

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

     

    

    Executive
      acknowledges and agrees that the non-competition restriction set forth above
      is
      ancillary to an otherwise enforceable agreement and supported by independent
      valuable consideration as required by law. Executive further acknowledges and
      agrees that the limitations as to time, geographical area, and scope of activity
      to be restrained by this Paragraph are reasonable and acceptable to him, and
      do
      not impose any greater restraint than is reasonably necessary to protect the
      goodwill and other business interests of the Company and the Bank. Executive
      acknowledges and agrees that the primary purpose of the restrictive covenants
      contained herein is to protect the proprietary information and goodwill of
      the
      Company and the Bank.

    

    Executive
      acknowledges and agrees that if, at some later date, a court of competent
      jurisdiction determines that the non-competition agreement set forth in this
      Paragraph does not meet the criteria set forth by law, this paragraph may be
      reformed by the court and enforced to the maximum extent permitted under the
      laws of the State of Michigan.

    

    If
      Executive is found to have violated any of the provisions of the non competition
      covenants contained herein, Executive agrees that the restrictive period of
      each
      covenant so violated shall be extended by a period of time equal to the period
      of such violation by Executive. It is the intent of this Paragraph that the
      running of the restrictive period of any covenant shall be tolled during any
      period of violation of such covenant so that the Company may obtain the full
      and
      reasonable protection for which it contracted and so that Executive may not
      profit by breach thereof.

    

    NONINTERFERENCE

    

    13. The
      Executive covenants and agrees that, for a period of one year subsequent to
      the
      termination of this Agreement, whether such termination occurs at the insistence
      of the Company or the Executive, the Executive shall not: (i) recruit, hire,
      or
      attempt to recruit or hire, directly or by assisting others, any other employees
      of the Company or the Bank (for purposes of this covenant, “other employees”
shall refer to employees who are still actively employed by, or doing business
      with, the Company at the time of the attempted recruiting or hiring) nor shall
      the Executive contact or communicate with any other employees of the Company
      or
      the Bank for the purpose of inducing other employees to terminate their
      employment with the Company of the Bank or (ii) solicit, directly or by
      assisting others, the banking business of any customers of the Company or the
      Bank as of the date of such termination.

    

    The
      Executive acknowledges and agrees that in exchange for the execution of the
      noninterference agreement set forth above, the Executive will receive
      substantial, valuable consideration including: (i) confidential trade secret
      and
      proprietary information relating to the identity and special needs of the
      Company’s and Bank’s current and prospective customers, the Company’s and Bank’s
      current and prospective services, the Company’s and Bank’s business projections
      and market studies, the Company’s and Bank’s business plans and strategies, the
      Company’s and Bank’s studies and information concerning special services unique
      to the Company and the Bank; (ii) employment; and (iii) compensation and
      benefits as described in this Agreement. The Executive acknowledges and agrees
      that this constitutes fair and adequate consideration for the execution of
      the
      noninterference agreement set forth above.

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

    

    REMEDIES

    

    14. In
      the
      event that the Executive violates any of the provisions set forth in this
      Agreement relating to NONINTERFERENCE
      and
      NONCOMPETITION,
      the
      Executive acknowledges and agrees that the Company may suffer immediate and
      irreparable harm. Consequently, the Executive acknowledges and agrees that
      the
      Company shall be entitled to immediate injunctive relief, either by temporary
      or
      permanent injunction, to prevent such a violation.

    

    TERMINATION

    

    15. The
      Executive acknowledges and agrees that the Board of Directors of the Company
      reserves the right to terminate this Executive Agreement, for any reason, by
      providing the Executive with thirty (30) days’ written notice of the
      termination, delivered in person, or by certified U.S. mail to the Executive’s
      last known address reflected in the Company’s personnel records. Such notice
      shall be effective upon personal delivery or three days after mailing by
      certified mail. However, if the Agreement is terminated at the Company’s
      insistence without “good cause” as defined in this Agreement, the Company
      covenants and agrees to provide the Executive with the SEVERANCE
      set
      forth
      below in this Agreement. 

    

    16. The
      Executive acknowledges and agrees that the Company may terminate this Agreement
      at any time, without notice, for any “good cause” defined as the
      following:

    

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

    

    (b) In
      the
      event the Executive is indicted for a felony, or a misdemeanor involving moral
      turpitude;

    

    (c) Notice
      of
      intent (such as a “15 day letter”) to pursue the suspension or removal of
      Executive by bank regulatory authorities;

    
      
         

      

      
        6

        
          

        

      

      
         

      

    

    

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

    

    17. The
      Company acknowledges and agrees that the Executive reserves the right to
      terminate this Agreement at any time, for any reason, with or without cause,
      by
      providing thirty (30) days written notice, by personal delivery or certified
      United States mail, to the Company at its principal business address of the
      Executive’s intention to terminate this Agreement. Such notice shall be
      effective upon personal delivery or three days after mailing by certified mail.
      In the event that the Executive does so because of a “constructive termination”
as defined in this Agreement, the Company covenants and agrees to provide the
      Executive with the SEVERANCE
      set
      forth below in this Agreement. “Constructive termination” shall mean any
      circumstance pursuant to which Executive’s compensation is diminished, his job
      title is changed to a position of lesser importance, or his responsibilities
      are
      materially reduced. If Executive voluntarily terminates the Agreement (i.e.,
      resigns), the Executive shall be entitled to receive any accrued base salary
      up
      to and including the effective date of resignation, plus accrued bonuses, any
      other earned compensation, rights to stock options, pension credits, unused
      vacation time, employer match of 401k contributions, profit sharing plan and
      any
      other employee and/or management benefits earned up to and including the
      resignation date.

    

    18. The
      Executive acknowledges and agrees that in the event of the Executive’s death,
      this Agreement will terminate immediately, without notice, on the date of the
      Executive’s death. The Executive acknowledges and agrees that, in the event of
      his death, the Company will pay to the Executive’s estate all compensation
      including but not limited to base salary, plus bonuses, director’s fees, rights
      to stock options, pension credits, unused vacation time, employer match of
      401k
      contributions, profit sharing plan, and non-qualified deferred compensation
      plan, due and owing through the date of the Executive’s death. To the maximum
      extent, and for the term, permitted by the health benefit provisions of the
      Consolidated Omnibus Budget Reconciliation Act (COBRA) of 1986, if Executive
      dies during the term of this Agreement and while in the employ of the Bank,
      the
      Bank shall provide or maintain health insurance benefits, at the Bank’s expense,
      for Executive’s immediate family.

    

    19. The
      Executive acknowledges and agrees that this Agreement will terminate
      immediately, without notice, in the event the Executive becomes physically
      or
      mentally disabled, as defined by 29 C.F.R. § 1630.2(g)(1), and cannot
      perform the essential functions of his position, with or without reasonable
      accommodation for the period designated by the Executive’s disability insurance
      after which disability payments will begin.

    

    20. The
      Executive acknowledges and agrees that in the event of termination of this
      Agreement, for whatever reason, whether at the insistence of the Executive
      or at
      the insistence of the Company, the Executive will return to the Company within
      seventy-two (72) hours of the time when notice of termination is communicated
      by
      either party, or sooner if requested by the Company, any and all equipment,
      literature, documents, data, information, order forms, memoranda,
      correspondence, customer and prospective customer lists, customer’s orders,
      records, cards or notes acquired, compiled or coming into the Executive’s
      knowledge, possession or control in connection with his activities as an
      employee of the Company or the Bank, as well as all machines, parts, equipment
      or other materials received from the Company or the Bank or from any of its
      customers, agents or suppliers, in connection with such
      activities.

    
      
         

      

      
        7

        
          

        

      

      
         

      

    

     

    CHANGE
      IN CONTROL

    

    21. The
      parties acknowledge that the Executive has agreed to assume the position of
      President and Chief Executive Officer of both the Company and the Bank and
      to
      enter into this Agreement based on his confidence in the current owners of
      the
      Company and the direction of the Company provided by the current Board of
      Directors. If the Company should undergo a “Change of Control,” as defined
      below, and there is a material change in the Executive’s responsibilities,
      duties, terms or location of employment, then the Executive, at his option,
      may
      notify the Company at any time within sixty (60) days following such Change
      of
      Control, by personal delivery or certified U.S. mail, that he intends to
      terminate this Agreement based upon the Change of Control. Notice of termination
      shall be effective upon delivery or three (3) days after mailing by certified
      mail.

    

    In
      the
      event that Executive is terminated by the Company or the Bank within sixty
      (60)
      days following such change in control for any reason other than for Good Cause,
      Executive shall be entitled to elect to receive as severance the lump sum amount
      determined pursuant to Paragraph 22 upon written notice to the Company or the
      Bank, in which case the severance provisions of Paragraph 24 shall not
      apply.

    

    22. In
      the
      event that the Executive elects to terminate this Agreement based upon a Change
      in Control, the Company covenants and agrees to pay to the Executive as
      severance compensation, 1.99 times the Executive’s then current annual salary,
      less statutory payroll deductions as defined in section 280G(b)3 of the Internal
      Revenue Code of 1986, as amended (“Code”) within 30 days of such
      notice.

    

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

    

    For
      purposes of determining the Gross Up, the Executive shall be deemed to pay
      federal, state, and local income taxes at the highest marginal rate of taxation
      in his filing status of the calendar year in which the payment is to be made
      bases upon the Executive’s domicile on the date of the event that triggers the
      Excise Tax. The determination of whether such Excise Tax is payable and the
      amount of such Excise Tax shall be based upon the opinion of tax counsel
      selected by the Bank, subject to the reasonable approval of the Executive.
      If
      such opinion is not finally accepted by the Internal Revenue Service, then
      appropriate adjustments shall be calculated (with additional Gross Up determined
      based on the principals outlined in the previous paragraph, if applicable) by
      such tax counsel based upon the final amount of Excise Tax so applicable, within
      thirty (30) days after such calculations are completed, but in no event later
      than April 1st of the year following the event that triggers the Excise Tax.
      Such compensation shall be payable in equal disbursements in accordance with
      the
      Bank’s ordinary payroll policies and procedures. The Executive will also
      continue to receive his automobile allowance provided by the Company or the
      Bank
      for a period of twelve (12) months following the date of termination. The
      Executive will also be permitted to retain in his own name the country club
      and
      business club membership provided for in this Agreement. The Company agrees
      in
      such instance to pay for the Executive’s country club and business club dues for
      one year after the termination of this Agreement.

    
      
         

      

      
        8

        
          

        

      

      
         

      

    

     

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

    

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

    

    (b) the
      Company or the Bank sells, transfers or assigns all or substantially all of
      its
      assets to any third party; or

    

    (c) there
      is
      an acquisition of more than twenty percent (30%) of the outstanding voting
      securities of the Company or the Bank pursuant to any transaction or combination
      of transactions by any person, entity or group within the meaning of such terms
      in the Securities Exchange Act of 1934, as amended;

    

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

    

    SEVERANCE

    

    24. The
      Executive and the Company acknowledge and agree that, if the Company elects
      to
      terminate this Agreement at any time prior to the Expiration Date, for any
      reason other than “good cause” as defined in this Agreement, the Executive shall
      be entitled to severance pay. Such severance pay shall be equal to 100% of
      the
      Executive’s then current annual salary, less statutory payroll deductions,
      payable in twelve (24) equal disbursements in accordance with the Company’s
      ordinary payroll policies and procedures, beginning on the date that the notice
      of termination becomes effective.

    
      
         

      

      
        9

        
          

        

      

      
         

      

    

    

    SEVERABILITY

    

    25. The
      Executive acknowledges and agrees that each covenant and/or provision of this
      Agreement shall be enforceable independently of every other covenant and/or
      provision. Furthermore, the Executive acknowledges and agrees that, in the
      event
      any covenant and/or provision of this Agreement is determined to be
      unenforceable for any reason, the remaining covenants and/or provisions will
      remain effective, binding and enforceable.

    

    WAIVER

    

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

    

    SUCCESSORS
      AND ASSIGNS

    

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

    

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

    

    CHOICE
      OF LAW

    

    29. Both
      parties acknowledge and agree that the law of the State of Michigan will govern
      the validity, interpretation and effect of this Agreement, and any other dispute
      relating to, or arising out of, the employment relationship between the Company
      and the Executive.

    

    MODIFICATION

    

    30. Both
      parties acknowledge and agree that this Agreement and the other agreements
      and
      plans referenced herein constitute the complete and entire agreement between
      the
      parties; that the parties have executed this Agreement based upon the express
      terms and provisions set forth herein; that the parties have not relied on
      any
      representations, oral or written, which are not set forth in this Agreement;
      that no previous agreement, either oral or written, shall have any effect on
      the
      terms or provisions of this Agreement; and that all previous agreements, either
      oral or written, related to this subject matter are expressly superseded and
      revoked by this Agreement.

    
      
         

      

      
        10

        
          

        

      

      
         

      

    

     

    31. Both
      parties acknowledge and agree that the covenants and/or provisions of this
      Agreement may not be modified by any subsequent agreement unless the modifying
      agreement; (i) is in writing; (ii) contains an express provision
      referencing this Agreement; (iii) is signed by the Executive; and
      (iv) is approved by a disinterested majority of the Board of Directors of
      the Company.

    

    INDEMNIFICATION

    

    32. During
      the term of this Agreement, the Company shall indemnify the Executive against
      all judgments, penalties, fines, amounts paid in settlement and reasonable
      expenses (including, but not limited to, attorneys’ fees) relating to his
      employment by the Company to the fullest extent permissible under the Company’s
      Articles of Incorporation and the Bank’s Articles of Association and may
      purchase such indemnification insurance as the Board of Directors may from
      time
      to time determine.

    

    LEGAL
      CONSULTATION

    

    33. The
      Executive and the Company acknowledge and agree that both parties have been
      accorded a reasonable opportunity to review this Agreement with legal counsel
      prior to executing the agreement. The Executive acknowledges that he is not
      represented by Jenkens & Gilchrist, P.C. in connection with the preparation
      and negotiation of this Agreement, and that Jenkens & Gilchrist, P.C.
      represents the Company.

    

    NOTICES

    

    34. Any
      and
      all notices of documents or other notices required to be delivered under the
      terms of this Agreement shall be addressed to each party as
      follows:

    

    

    EXECUTIVE:

    

    Name: Satish
      B.
      Jasti

    Address:
      2995 Saddlewood Road, West Bloomfield, MI 48324

    

    COMPANY:

    

    City
      Central Bancorp, Inc. (F/K/A De Novo Holdings, Inc.)

    P.O.
      Box
      250428

    West
      Bloomfield, MI 48325-0428

    
      
         

      

      
        11

        
          

        

      

      
         

      

    

    

    EXECUTED
      ON THIS DATE FIRST WRITTEN ABOVE IN _________, ________.

     

     

    
      	 	 	 	 “EXECUTIVE”
	 	 	 	 
	 	 	 	 
	/s/ Ravi
              Gullapalli 	 	 	/s/ Satish
              B.
              Jasti
	
              
WITNESS	 	 	
              
Satish
              B. Jasti

    

    

     

    
      	 	 	 	 “COMPANY”
	 	 	 	 
	 	 	 	 CITY CENTRAL BANCORP,
              INC.(F/K/A DE  NOVO
              HOLDINGS, INC.
	 	 	 	 
	 	 	 	 
	/s/ Ravi
              Gullapalli	 	 	/s/ Jitendra
              Patel                      
               12/17/05 
	
              
WITNESS	 	 	
              
Name:
              Jitendra Patel
	
            	 	 	Chairman,
              Personnel Committee 

    

    

     

    
      
         

      

      
        12

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