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    EXECUTIVE
      EMPLOYMENT AGREEMENT

    

    This
      EXECUTIVE
      EMPLOYMENT AGREEMENT
      (the
“Agreement”) is made and entered into as of this 10th
      day of
      March, 2005, by and between Bank of Birmingham, a Michigan state bank (“Bank”),
      and Jeffrey S. Bonk, an individual resident of the State of Michigan
      (“Executive”).

    

    WHEREAS,
      the
      Executive has considerable experience, expertise and training in management
      related to banking and services offered by the Bank; and

    

    WHEREAS,
      the
      Bank
      desires for the Executive to be employed as Executive Vice President and
      Director of Sales and Marketing of the Bank, and Executive desires to accept
      employment, subject to and on the terms and conditions set forth in this
      Agreement; and 

    

    WHEREAS,
      both
      the
      Bank 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. 

    

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

    

    A.
      DURATION

    

    1. This
      Agreement shall become effective (the “Effective Date”) upon the date that the
      Bank opens for business and shall continue in full force and effect, subject
      to
      Paragraph 2 below, until the third anniversary of the Effective Date, unless
      earlier terminated as provided herein. 

    

    2. The
      Bank
      and the Executive acknowledge and agree that the parties may agree to continue
      the employment relationship upon such terms as they may mutually agree.
      Following the initial three year term of this Agreement, the Agreement shall
      automatically renew annually for a term of one year, unless either party elects
      to terminate this Agreement by sending written notice of non-renewal at least
      thirty (30) calendar days prior to the expiration of the then current term.
      If
      this Agreement expires as a result of non-renewal, the employment of the
Executive
      shall automatically terminate upon the expiration of the then current
      term.

    

    B.
      COMPENSATION

    

    3. All
      payments of salary and other compensation to the Executive
      shall be payable in accordance with the Bank’s ordinary payroll and other
      policies and procedures. 

     

    a.
       During
      the term of this Agreement, the Bank agrees to pay the Executive
      a  base
      salary of not less than $125,000 annually, appropriately prorated for partial
       months
      at
      the commencement and end of the term of this Agreement.

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

       

      
        b. The
          Bank
          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.

        

        c. During
          the term of this Agreement, it is anticipated that the Board of Directors
          or a
          delegated committee thereof will adopt an executive incentive bonus plan
          based
          upon the asset growth and profitability of the Bank. The Executive will
          be
          entitled to participate in such plan.

         

      

    

    d. Executive
      shall receive options to purchase shares of common stock of the Bank at an
      exercise price of $10.00 per share, the number of options to be equal to 25,000.
      The options shall have a term of ten years from the date of issuance, which
      shall be the Effective Date, and to the extent permitted by law, shall be
      treated as incentive stock options. 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, including with respect to vesting, as
      may
      be set forth in the stock option agreement or the stock option plan pursuant
      to
      which the options are granted. 

    

    4. The
      Bank
      shall provide the Executive with a cellular phone and laptop computer for use
      in
      the performance of his duties and obligations under this Agreement. The Bank
      shall also reimburse the Executive for all reasonable expenses, including,
      but
      not limited to, travel expenses, lodging expenses, and meals and entertainment
      expenses, that the Executive may incur 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
      of
      the Bank or such other officer designated by the Board to verify such expenses
      prior to any reimbursements. In addition to the reimbursement of expenses listed
      in this Paragraph, the Bank shall pay, or reimburse Executive, for reasonable
      initiation fees for trade association memberships deemed to be acceptable and
      appropriate by the Board of Directors. 

    

    5. Subject
      to the provisions of Paragraph 9 of this Agreement, the Executive shall be
      entitled to receive employee and dependent health insurance, 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
      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.

    

    7. The
      Bank
      shall also provide the Executive with term life insurance coverage in an initial
      amount not to exceed 200% of Executive’s base salary, and having a term not less
      than ten years. If, during the term of this Agreement, the Bank adopts a plan
      providing life insurance benefits to other Bank employees and the maximum
      coverage under such plan exceeds the maximum permissible coverage provided
      by
      this Paragraph, then notwithstanding the provisions of this Paragraph, Executive
      shall be entitled to participate in the Bank’s life insurance benefit plan to
      the full extent that is available to other Bank employees.

    

    8. The
      Board
      of Directors or a delegated committee shall review the amount of Executive’s
      compensation, including his base salary, not less than annually and shall
      increase such base salary as a result of such review and to provide reasonable
      cost of living adjustments, all in the discretion of the Board of Directors
      or
      such committee and consistent with the safe and sound banking practices;
      provided however that Executive’s base salary, bonuses, vacation and car
      allowance shall not be less than the amounts set forth in Paragraphs 3,4, and
      5
      at any time during the term of this Agreement.

    

    9. All
      employee benefits provided to the Executive by the Bank incident to the
      Executive’s employment shall be 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.

    

    10. The
      parties hereto acknowledge that the compensation set forth herein and the other
      covenants and agreements of the Bank contained herein are fair and adequate
      compensation for Executive’s services and for the covenants of Executive as set
      forth herein. 

    

    C.
      RESPONSABILITIES

    

    11. The
      Executive shall be employed as Executive Vice President and Director of Sales
      and Marketing of the Bank and shall faithfully devote his best efforts and
      his
      primary focus to his positions with the Bank.

    

    12. The
      Executive acknowledges and agrees that the duties and responsibilities of the
      Executive required by his position as Executive Vice President and Director
      of
      Sales and Marketing of the responsibilities imposed by the 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 Executive Vice President and Director of Sales and Marketing
      of a financial institution.

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

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

    

    14. The
      Executive shall not directly or indirectly engage in competition with the Bank
      at any time during the existence of the employment relationship between the
      Bank
      and the Executive, and the Executive will not on his own behalf, or as another’s
      agent or employee, engage in any of the same or similar duties and/or
      Bank-related responsibilities required by the Executive’s position with the
      Bank, other than as an employee of the Bank pursuant to this Agreement or as
      specifically approved by the Board of Directors. In addition, without the prior
      written consent of the Board off Directors, Executive shall not usurp for
      himself any corporate opportunity available to the Bank.

    

    D.
      NONINTERFERENCE

    

    15. Executive
      acknowledges that, as part of his employment with the Bank, he will become
      familiar with the salary, pay scale, capabilities, experiences, skill and
      desires of the Bank’s employees. Executive agrees to maintain the
      confidentiality of such information. Executive further 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 Bank or the Executive,
      the Executive shall not recruit, hire, or attempt to recruit or hire, directly
      or by assisting others, any other employees of the Bank, nor shall the Executive
      contact or communicate with any other employees of the Bank for the purpose
      of
      inducing other employees to terminate their employment with the Bank. For
      purposes of this covenant, “other employees” shall refer to employees who are
      still actively employed by or were employed by the Bank within the prior year,
      or doing business with, the Bank at the time of the attempted recruiting or
      hiring.

    

    16. In
      his
      position of employment, the Executive will be exposed to confidential
      information and trade secrets (hereafter “Proprietary Information”) pertaining
      to, or arising from, the business of the Bank and its affiliates (if any).
      The
      Executive hereby agrees and acknowledges that such Proprietary Information
      is
      unique and valuable to the Bank’s business and the Bank would suffer irreparable
      injury if this information were publicly disclosed. Therefore, the Executive
      agrees to keep in strict secrecy and confidence, both during and after the
      period of his employment, any and all Proprietary Information which the
      Executive acquires, or to which the Executive has access, during employment
      by
      the Bank, that has not been publicly disclosed by the Bank. The Proprietary
      Information covered by this Agreement shall include, but shall not be limited
      to: (i) the identities of the Bank’s existing and prospective customers or
      clients, including names, addresses, credit status, and pricing levels; (ii)
      the
      buying and selling habits and customs of the Bank’s existing and prospective
      customers or clients; (iii) financial information about the Bank; (iv) product
      and systems specifications, concepts for new or improved products and other
      product or systems data; (v) the identities of, and special skills possessed
      by,
      the Bank’s employees; (vi) the identities of and pricing information about the
      Bank’s suppliers and vendors; (vii) training programs developed by the Bank;
      (viii) pricing studies, information and analyses; (ix) current and prospective
      products and inventories; (x) financial models, business projections and market
      studies; (xi) the Bank’s financial results and business conditions; (xii)
      business plans and strategies; (xiii) special processes, procedures, and
      services of the Bank and its suppliers and vendors; and ()xiv) computer programs
      and software developed by the Bank or its consultants. The provisions and
      agreements entered into herein shall survive the term of the Employee’s
      employment to the extent reasonably necessary to accomplish their purpose in
      protecting the interests of the Bank in any Proprietary Information disclosed
      to, or learned by, the Executive while employed.

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    17. The
      Executive expressly represents that he has no agreements with, or obligations
      to, any party which conflict, or may conflict, with the interests of the Bank
      or
      with the Executive’s duties as an employee of the Bank. 

    

    18. Executive
      acknowledges that the special relationship of trust and confidence between
      him,
      the Bank, and its clients and customers creates a high risk and opportunity
      for
      Executive to misappropriate the relationship and goodwill existing between
      the
      Bank and its clients and customers. Executive further acknowledges and agrees
      that it is fair and reasonable for the Bank to take steps to protect itself
      from
      the risk of such misappropriation. Executive further acknowledges that, at
      the
      outset of his employment with the Bank and throughout his employment with the
      Bank, Executive will be provided with access to and informed of Proprietary
      Information, which will enable him to benefit from the Bank’s goodwill and
      know-how. 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 Bank or the Executive, the Executive shall not attempt
      to solicit, directly or by assisting others, any other customers or clients
      of
      the Bank for the purpose of attracting their business or to offer any product
      or
      service which would be in competition or that conflicts with the Bank’s business
      or the business of any of its affiliates.

    

    19. Executive
      acknowledges that it would be inevitable in the performance of his duties as
      a
      director, officer, employee, investor, agent or consultant of any person,
      association, entity, or company which competes with the Bank, or which intends
      to or may compete with the Bank, to disclose and/or use Proprietary Information,
      as well as to misappropriate the Bank’s goodwill and know-how, o or for the
      benefit of such other person, association, entity, or company. Executive also
      acknowledges that, in exchange for the execution for the non-solicitation
      restriction set forth in these NONINTERFERENCE provisions, he has received
      substantial, valuable consideration, including: (i) confidential trade secret
      and proprietary information relating to the identity and special needs of the
      Bank’s current and prospective customers, the Bank’s current and prospective
      services, the Bank’s business projections and market studies, the Bank’s
      business plans and strategies, the Bank’s studies and information concerning
      special services unique to the Bank; (ii) employment; and (iii) compensation
      and
      benefits as described in this Agreement. Executive further acknowledges and
      agrees that this consideration constitutes fair and adequate consideration
      for
      the execution of the non-solicitation restriction set forth herein.

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    20. In
      consideration for the above-recited valuable consideration, as well as to
      protect the vital interests described in these NONINTERFERENCE provisions,
      the
      Executive understands and agrees that during the continuation of this Agreement
      for a period of one year following the termination of this agreement by either
      party, for any reason (other than for termination of Executive for circumstances
      described in Paragraph 2(e), below), the Executive will not become engaged
      in
      any way (directly or indirectly), as an individual proprietor, beneficiary,
      trustee, owner, partner, stockholder, officer, director, executive, investor,
      lender, sales representative, or in any other capacity, whatsoever, in any
      activity or endeavor of any entity headquartered within the Michigan
      cities/towns of Bloomfield, Bloomfield Hills, Beverley Hills, Birmingham,
      Franklin, or Bingham Farms, which competes or conflicts with the Bank’s business
      or the business of any of its affiliates (if any), as such business has been
      conducted during the years of the Executive’s employment with the Bank. It is
      the parties’ desire that these restrictions be enforced to the fullest extent of
      the law. 

    

    21. Executive
      agrees that the restriction set forth above is ancillary to an otherwise
      enforceable agreement, is supported by independent valuable consideration,
      and
      that the limitations as to time, geographical area, and scope of activity to
      be
      restrained by Paragraph 20 are reasonable and acceptable, and do not impose
      any
      greater restraint than is reasonably necessary to protect the goodwill and
      other
      business interests of the Bank. This Section creates a narrowly tailored advance
      approval requirement in order to avoid unfair competition and irreparable harm
      to the Bank and is not intended or to be construed as a general restraint from
      engaging in a lawful profession or a general covenant against competition.
      Nothing herein will prohibit (i) beneficial ownership of less than 5% of the
      publicly traded capital stock of a corporation listed on a national securities
      exchange so long as this is not a controlling interest, or (ii) ownership of
      mutual fund investments. Executive agrees that if, at some later date, a court
      of competent jurisdiction determines that the non-solicitation agreement set
      forth in this Section does not meet the criteria set forth by applicable law,
      this Section may be reformed by the court and enforced to the maximum extent
      permitted under applicable law. Executive understands that his obligations
      under
      this Section shall not be assignable by him. 

    

    22. Executive
      acknowledges that the covenants set forth in these NONINTERFERENCE provisions
      are material conditions to the Bank’s willingness to execute and deliver this
      Agreement and to provide Executive the compensation benefits and other
      consideration provided hereunder. The parties agree that the existence of any
      claim or cause of action of Executive against the Bank, whether predicated
      on
      this Agreement or otherwise, will not constitute a defense to the enforcement
      by
      the Bank of such covenants. It is specifically acknowledged that the periods
      following the termination of employment stated in Paragraphs 15 and 20, during
      which the agreements and covenants of Executive made in such Paragraphs are
      effective, are to be computed by excluding from such computation any time during
      which Executive is in violation of any provision of Paragraph 15 or 20. In
      addition, Executive’s obligations under these NONINTERFERENCE provisions shall
      survive the termination of this Agreement and Executive’s employment with the
      Bank. Executive’s obligations under these NONINTERFERENCE provisions are in
      addition to, and not in limitation or preemption of, all other obligations
      of
      confidentiality which he may have to Bank under general legal or equitable
      principles, or other Bank policies. In the event of an conflict between or
      among
      the NONINTERFERENCE provisions set forth in this Section D, the more restrictive
      of the conflicting provisions shall control.

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    E.
      REMEDIES

    

    23. In
      the
      event that the Executive violates any of the provisions set forth in this
      Agreement relating to NONINTERFERENCE. Executive acknowledges that the Bank
      would suffer immediate and irreparable harm and would not have an adequate
      remedy at law for money damages. Accordingly, Executive agrees that, without
      the
      necessity of proving actual damages or posting bond or other security, the
      Bank
      shall be entitled to temporary or permanent injunction or injunctions to prevent
      breaches of such performance and to specific enforcement of such covenants
      in
      addition to any other remedy to which the performance and to specific
      enforcement of such covenants in addition to any other remedy to which the
      Bank
      may be entitled, at law or in equity. In such a situation, the parties agree
      that the Bank may pursue any remedy available, including declaratory relief,
      concurrently or consecutively in any order as to any breach, violation, or
      threatened breach or violation of any of the provisions set forth in this
      Agreement relating to NONINTERFERENCE, and the pursuit of any particular remedy
      or remedies shall not be deemed an election of remedies or waiver of the right
      to pursue any other remedy.

     

    F.
       TERMINATION

    

    24.  
      The
      Board of Directors shall be entitled to terminate this Agreement, for any
      reason, by providing the Executive with thirty (30) days written notice of
      the
      termination. However, if this Agreement is terminated by the Bank without Good
      Cause, as defined in this Agreement, the Bank shall provided the Executive
      with
      the severance set forth in paragraph 34 of this Agreement.

    

    25.  For
      purpose of this Agreement, “Good Cause” shall be defined as the occurrence of
      one of the following events:

    

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

    

    b.  The
      Determination of the Board of Directors, in the exercise of its reasonable
      judgment, that (i) Executive has failed to follow the policies adopted by the
      Board of Directors and has failed to cure such failure within a reasonable
      period after written notice to the Executive by the Bank specifying in
      reasonable detail the alleged failure; or (ii) Executives has engaged in such
      actions or omissions that would constitute unsafe or unsound banking
      practices;

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    c.  The
      Executive is convicted of a misdemeanor involving moral turpitude or a
      felony;

    

    d.  The
      determination of the Board of Directors, in the exercise of its reasonable
      judgment, that the Executive has engaged in gross misconduct in the course
      and
      scope of his employment with the Bank including indecency, immorality, gross
      insubordination, dishonesty, unlawful harassment, use of illegal drugs, or
      fighting;

    

    

    e.  The
      determination of 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 that 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; or

    

    f.  The
      Executive is prohibited from engaging in the business of banking by any
      governmental regulatory agency having jurisdiction over the Bank

    Notwithstanding
      anything in this Agreement to the contrary, Executive will not be in breach
      of
      this Agreement and his action or failure to act shall not be a basis for
      termination for Good Cause if Executive’s action or failure to act would
      constitute an unsafe or unsound banking practice or be reasonably expected
      to
      have a material adverse effect on the financial or regulatory condition of
      the
      Bank.

    

    26.   Executive
      shall b entitled to terminate this Agreement at any time, for any reason, with
      or without cause, by providing thirty (30) days written notice to the Bank.
      The
      effective date of such resignation shall be the 30th
      calendar
      day following the date the notice is given or such other later date as may
      be
      set forth in the notice. Upon Executive’s resignation, Executive shall be
      entitled to receive any base salary which has been earned by him through the
      effective date of such resignation.

    

    27.  If
      Executive dies during the term of this Agreement and while in the employ of
      the
      Bank, this Agreement will terminate automatically, without notice, on the date
      of the Executive’s date of the Executive’s death and the Bank shall have any
      further obligation to Executive or his estate under this Agreement (other than
      death benefits payable under any benefit plans to which Executive is a party),
      except that the Bank shall pay Executive’s estate that portion of Executive’s
      base salary accrued through the date on which Executive’s death occurred. 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 spouse.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    28.  
      The
      Executive acknowledges and agrees that this Agreement will terminate
      immediately, without notice, in the event that 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. In the even of a termination pursuant to this
      Section, the Bank shall be relieved of all its obligations under this Agreement,
      except that the Bank shall pay to Executive, or his estate in the even of his
      subsequent death, Executive’s base salary through the date on which such
      termination shall have occurred, reduced during such period by the amount of
      any
      benefits received by Executive under any disability policy maintained by the
      Bank.

    

    29.  Executive
      acknowledges that all memoranda, notes, records, reports, manuals, books,
      papers, letters, client and customer lists, contracts, software programs,
      information and records, drafts of instructions, guides and manuals, and other
      documentation (whether in draft or final form), and other sales or financial
      information and aids relating to the Bank’s business, and any and all other
      documents containing confidential information furnished to Executive by any
      preventative of the Bank or otherwise acquired or developed by Executive in
      connection with his duties under this Agreement (collectively, “Recipient
      Materials”) shall at all times be the property of the Bank. Within three
      calendar days of the termination of this Agreement, Executive shall return
      to
      the Bank, any Recipient Materials which are in his possession, custody or
      control.

    

    30.  
      The
      provisions of provisions of Paragraphs 15, `6, 20-23, 29-34, 39, 42, 43 and
      45
      shall survive the termination of this Agreement.

    

    G.
      CHANGE IN CONTROL

    

    31.  The
      parties acknowledge that the Executive has agreed to assume the position of
      Executive Vice President and Director of Sales and Marketing and to enter into
      this Agreement based on his confidence in the current owners of the Bank and
      the
      direction of the Bank provided by the current Board of Directors. Upon a “Change
      of Control,” as defined below, the Executive may, at his option, notify the Bank
      within sixty (60) days following such Change of Control that he intends to
      terminate this Agreement based upon the Change of Control.

    

    In
      the
      event that Executive is terminated by the Bank within (60) days following such
      Change of 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 32 upon written notice to the Bank, in which case the
      severance provisions of Paragraph 34 shall not apply.

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    32.  In
      the
      event that the Executive elects to terminate this Agreement based upon the
      Change in Control, the Bank shall pay to the Executive a cash lump sum payment
      equal to 199% of his Base Amount as defined in section 280G(b)(3) of the
      Internal Revenue Code of 1986, as amended (“Code”) within thirty (30) days of
      such notice.

    

    In
      the
      even 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 for the calendar year in which the payment is to be made
      based upon the Executive’s domicile on the date of the even 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 determined
      together with any applicable penalties and interest. The final amount shall
      be
      paid, if 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 disbursement in accordance with the Bank’s ordinary payroll
      policies and procedures.

    

    33.  As
      used
      in this Agreement, a “change of Control” shall be deemed to have occurred in
      each of the following instances:

    

    a.  
      A
      reorganization, merger, consolidation or other corporate transaction involving
      the Bank, in each case, with respect to which the shareholders of the Bank,
      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
      sale, transfer or assignment of all or substantially all of the assets of the
      Bank to any third party. 

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    c.  
      The
      acquisition by any individual, entity or “group,” within the meaning of Section
      13(d)(3) or Section 14(d)(2) of the Exchange Act (a “Person”), of beneficial
      ownership (within the meaning of Rule 13d-3 promulgated under the Exchange
      Act)
      of voting securities of the Bank where such acquisition causes any such Person
      to own twenty percent (20%) or more of the combined voting power of the Bank’s
      then outstanding capital stock then entitled to vote generally in the election
      of directors; provided however, that a Change in Control shall not be deemed
      to
      have occurred if a Person becomes the beneficial owner of twenty percent of
      the
      combined voting power of the Bank’s then outstanding capital stock solely as a
      result of the repurchase of voting securities by the Bank.

    

    d.  During
      any period of two consecutive years, the persons who were directors of the
      Bank
      immediately before the beginning of the two year 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 two year period whose election, or nomination for election
      by
      the Bank’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 term are used in Rule 14a-11 of Regulation 14A
      promulgated under the Exchange Act).

    

    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 Change 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 Change in Control shall be deemed to have occurred on the
      day
      immediately prior to the date of such termination of his
      employment.

    

    H.  SEVERANCE

    

    34.  Except
      as
      otherwise expressly provided herein, if Bank terminates Executive’s employment
      for any reason other than Good Cause (as defined in this Agreement) after the
      first anniversary date of the Effective Date of this Agreement, then Executive
      shall be entitled to severance pay in an amount not less than the base salary
      that would have been due the executive had he remained employed for six (6)
      months following termination. If Bank terminates Executive’s employment for any
      reason other than Good Cause (as defined in this Agreement) after the second
      anniversary date of the Effect Date of this Agreement, then Executive shall
      be
      entitled to severance pay in an amount equal to the base salary that would
      have
      been due the Executive had he remained employed for one year following
      termination. In the event hat the Executive is entitled to any payment under
      Section G, no payment shall be due under this Section H . Any severance pay
      due
      to Executive pursuant to this Section H shall be paid in accordance with the
      terms of normal payroll procedure of the Bank.

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    I.  SEVERABILITY

    

    35.  If
      any
      term or other provision of this Agreement is held to be illegal, invalid or
      unenforceable by any rule of law or public policy, (A) such term or provision
      shall be fully severable and this Agreement shall be construed and enforce
      as if
      such illegal, invalid or unenforceable provision were not a part hereof; (B)
      the
      remaining provision of this Agreement shall remain in full force and effect
      and
      shall not be affect by such illegal, invalid or unenforceable provision or
      by
      its severance from this Agreement; and (C) there shall be added atomically
      as a
      part of this Agreement a provision as a similar in terms to such illegal,
      invalid or unenforceable provision as many be possible and still be legal,
      valid
      and enforceable. If any provision of this Agreement.

    

    J.  WAIVER

    

    36.  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.

     

    K.  SUCCSSORS
      AND ASSIGNS

    

    The
      Executive acknowledges and agrees that, this Agreement may be assigned by the
      Bank 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 enforce by the Executive against, any successor
      and/or assignee of the Bank. In the event of any conflict between this Paragraph
      37 and the Change in Control provisions set forth in Section G, above, the
      terms
      of Section G shall control.

    

    38.
      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.

    

    L.
      CHOICE OF LAW

    

    39.
      THIS
      AGREEMENT SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH, AND ALL QUESTIONS
      CONCERNING THE CONSTRUCTION, VALIDITY, INTERPRETATION AND PERFORMANCE OF THIS
      AGREEMENT SHALL BE GOVERNED BY, THE LAWS OF THE STATE OF MICHIGAN, WITHOUT
      GIVING EFFECT TO PROVISION THEREOF REGARDING CONFLICT OF LAWS. IT IS STIPULATED
      THAT MICHIGAN HAS A COMPELLING STATE INTEREST IN THE SUBJECT MATTER OF THIS
      AGREEMENT, AND THAT EXECUTIVE HAS OR WILL HAVE REGULAR CONTACT WITH THE STATE
      OF
      MICHIGAN IN THE PERFORMANCE OF THIS AGREMENT.

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    M.
      MODIFICATION

    

    40.
      The
      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 each executed this Agreement based upon the express terms and
      provisions set forth herein; that, in accepting employment with the Bank,
      Executive has not relied on any representations, oral or written, which are
      not
      terms set forth in this Agreement; and that all previous agreements, either
      oral
      or written, shall have an effect on the terms or provisions of this Agreement;
      and that all previous agreements, either oral or written, are expressly
      superseded and revoked by this Agreement. Except as otherwise expressly provided
      in this Agreement, no conditions, usage of trade, course of dealing or
      performance, understanding or agreement purporting to modify, vary explain
      or
      supplement the terms or conditions of this Agreement unless hereafter made
      in
      writing and signed by the party to be bound. No waiver shall be deemed a
      continuing waiver or a waiver of any subsequent breach or default, either of
      a
      similar or different nature, unless expressly so stated in writing.

    

    41.
      Except as otherwise expressly provided in this Agreement, no conditions, usage
      of trade, course of dealing or performance, understanding or agreement
      purporting to modify, vary, explain or supplement the terms or conditions of
      this Agreement unless hereafter made (i) in writing, (ii) referencing an express
      provision in this Agreement, (iii) signed by the Executive,
      and (iv) approved by a disinterested majority of the Board of
      Directors.

    

    N.
      IDEMNIFICATION

    

    42.
      The
      Bank 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 Bank to the fullest
      extent permissible under the law, including, without limitation, federal and/or
      state banking laws and regulations, the Michigan Banking Code of 1999, as
      amended, the Michigan Business Corporation Act, as amended, and the Bank’s
      Articles of Incorporation. To the extent permitted by law, the Bank may purchase
      such indemnification insurance as the Board may from time to time
      determine.

    

    O.
      ARBITRATION

    

    43.
      Any
      dispute, controversy, or claim arising out of or relating to this Agreement
      or
      breach thereof, or arising out of or relating to this Agreement or breach
      thereof, or arising out of or relating in any way to the employment of the
      Executive or the termination thereof, shall be submitted to arbitration in
      accordance with the Employment Dispute Arbitration Rules of the American
      Arbitration Association. Judgment upon the award rendered by the arbitrator
      may
      be entered in any court of competent jurisdiction. In reaching his or her
      decision, the arbitrator shall have no authority to ignore, change, modify,
      add
      to or delete from any provision of this Agreement, but instead is limited to
      interpreting this Agreement. Notwithstanding the arbitration provisions set
      forth in this Agreement, the Executive and the Bank acknowledge and agree that
      nothing in this Agreement shall be construed to require the arbitration of
      any
      claim or controversy arising under the NONINTERFERENCE provisions of this
      Agreement. These provisions shall be enforceable by any court of competent
      jurisdiction and shall not be subject to this Paragraph of the Agreement. The
      Executive and the Bank further acknowledge and agree that nothing in this
      Agreement shall be construed to require arbitration of any claim for workers’
      compensation or unemployment compensation.

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    P.
      LEGAL CONSULTATION

    

    44.
      Each
      party acknowledges that it has carefully read this agreement, that it has had
      an
      opportunity to consult with his or its attorney concerning the meaning, import
      and legal significance of this Agreement, that it understands the terms of
      the
      Agreement, that all understandings and agreements between Executive and the
      Bank
      relating to the subjects covered in this Agreement are contained in it, and
      that
      it has entered into the Agreement voluntarily and not in reliance on any
      promises or representations by the other than those contained in this
      Agreement.

    

    Q.
      MISCELLANEOUS

    

    45.
      The
      Executive shall make himself available, upon the request of the Bank, to testify
      or otherwise assist in litigation, arbitration, or other disputes involving
      the
      Bank, or any of the directors, officers, employees, subsidiaries, or parent
      corporations of either, at no additional cost during the term of this Agreement
      and at any time following the termination of this Agreement. 

    

    46.  The
      Executive shall not be required to mitigate the amount of any payment provided
      for in this agreement by seeking other employment or otherwise, nor shall the
      amount of any payment provided for in this Agreement be reduced by any
      compensation earned by the Executive as the result of employment by another
      employee after the date of termination, or otherwise.

    

    47.  In
      the
      event either party institutes arbitration or litigation to enforce or protect
      its rights under this Agreement, the prevailing party in such arbitration or
      litigation shall be entitled, in addition to all other relief, to reasonable
      attorney’s fees, out-of-pocket costs, disbursements, and arbitrator’s fees
      relating to such arbitration or litigation.

    

    48.  This
      Agreement may be executed simultaneously in two or more counterparts, each
      of
      which shall be denied an original, but all of which shall together constitute
      one and the same Agreement.

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    49.  The
      bank
      shall have no obligation to set aside, earmark or entrust any fund or money
      with
      which to pay its obligations under this Agreement. The Executive or any
      successor-in-interest to Executive shall be and remain simply a general creditor
      of the Bank in the same manner as any other creditor having a general unsecured
      claim. For purposes of the Code, the Bank intends this Agreement to be unfunded,
      unsecured promise to pay on the part of the Bank. For purposes of Employee
      Retirement Income Security Act of 1974, as amended (“ERISA”), the Bank intends
      that this Agreement not be subject to ERISA. If it is deemed subject to ERISA,
      it is intended to be an unfunded arrangement for the benefit of a select member
      of management, who is a highly compensated employee of the Bank for the purpose
      of qualifying this Agreement for the “top hat” plan exception under sections
      201(2), 301(a)(3) and 402(a)(1) of ERISA. At no time shall the Executive have
      or
      be deemed to have any lien right, title or interest in or to any specific
      investment or to any assets of the Bank. If the Bank elects to invest in a
      life
      insurance, disability, or annuity policy upon the life of the Executive, the
      Executive shall assist the Bank by freely submitting to a physical examination
      and supplying such additional information necessary to obtain such insurance
      or
      annuities.

    

    50.  When
      a
      reference is made in this Agreement to a Paragraph, such reference shall be
      to a
      Paragraph of this Agreement unless otherwise indicated. The headings contained
      in this Agreement are for convenience of reference only and shall not affect
      in
      any way the meaning or interpretation of this Agreement. Whenever the worlds
      “include”, “includes” or “including” are used in this Agreement, they shall 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 Agreement
      shall refer to this Agreement as a whole and not to any particular provision
      in
      this Agreement. Each use herein of the masculine, neuter or feminine gender
      shall be deemed to include the other genders. Each use herein of the plural
      shall 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 or instrument defined or referred to herein or in any agreement
      or
      instrument that is referred to herein means such agreement or instrument as
      from
      time to time amended, modified or supplemented, including by waiver or consent.
      References to a person are also to its permitted successors or
      assigns.

    

    51.  Executive
      represents that his service as an employee of the Bank will not violate any
      agreement: (i) he has made that prohibits him from disclosing any information
      he
      acquired prior to his becoming employed by the Bank; or (ii) he has made that
      prohibits him from accepting employment with the Bank or that will interfere
      with his compliance with the term of this Agreement. Executive further
      represents that he has not previously, and will not in the future, disclose
      to
      Bank any proprietary information or trade secrets belonging to any previous
      employer. Executive acknowledges that the Bank has instructed him not to
      disclose to it any proprietary information or trade secrets belonging to any
      previous employer.

    

    R.
      NOTICES

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    52.  All
      notices and other communications required or permitted to be given or delivered
      hereunder or by reason of the provisions of this Agreement shall be in writing
      and shall be deemed to have been properly given if (a) delivered personally,
      (b)
      delivered by a recognized overnight courier service, (c) sent by United States
      mail, or (d) sent by facsimile transmission followed by a confirmation copy
      delivered by recognized overnight courier service the next day. Such notices,
      requests, consents and other communication shall be sent to the respective
      parties as follows (or at such other address for a party as shall be specified
      by like notice to the other party):

    

    If
      to the
      Bank:

    

    Bank
      of
      Birmingham

    33583
      Woodward Avenue

    Birmingham,
      Michigan 48009

    Attention:
      Chairman

    If
      to
      Executive:

    

    Jeffrey
      S. Bonk

    551
      Harrow CT

    Rochester
      Hills, MI 48307

    

    53.  Any
      notice or other communication given pursuant to this Agreement shall be
      effective (i) in the case of personal delivery, telex or facsimile transmission,
      when received; (ii) in the case of mail, upon the earlier of actual receipt
      or
      five (5) business days after deposit with the United States Postal Service,
      first class certified or registered mail, postage prepaid, return receipt
      requested; and (iii) in the case of a recognized overnight courier service,
      one
      (1) business day after delivery to the courier service together with all
      appropriate fees or charges and instructions for overnight delivery. 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:

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    [signature
      page to Employment Agreement]

    

    EXECUTED
      ON THIS DATE FIRST WRITTEN ABOVE IN BIRMINGHAM,
      MICHIGAN.

    

    

    
      	 	 	EXECUTIVE
	 	 	 
	/s/ Robert E. Farr	 	/s/ Jeffrey S. Bonk
	WITNESS	 	Jeffrey S. Bonk
	 	 	 
	 	 	 
	 	 	BANK OF
              BIRMINGHAM
	 	 	 
	/s/ Barbara Riopelle	 	/s/ Charles Pryde
	WITNESS	 	Compensation Committee
              MemberUnassociated Document

    

      CONSULTING
        AGREEMENT

       

      This
        Agreement (“Agreement”) is entered into as of the 20th
        day of
        December, 2004, by and between Birmingham Bloomfield Bancorp, Inc. (“Company”),
        a corporation organized under the laws of the State of Michigan, and Robert
        Farr, an adult individual residing in the State of Michigan
        (“Consultant”).

       

      The
        parties hereto agree as follows:

       

      1.  Engagement.
        The
        Company hereby engages the Consultant, and the Consultant hereby agrees to
        render, at the request of the Company, independent advisory and consulting
        services for the Company in connection with the formation or acquisition
        of a
        proposed new bank charter (“Bank”), upon the terms and conditions hereinafter
        set forth. 

       

      2.  Term.
        The
        term
        of this Agreement shall be effective as of March 1, 2004, and shall terminate
        on
        the earlier of (i) December 31, 2005; (ii) the date on which the Bank opens
        for
        business following the receipt of (and satisfaction of all conditions to
        opening
        for business under) its authorization to commence its banking business
        (“Certificate of Authority”) from the Michigan Office
        of
        Financial and Insurance Services
        (“State”) and approval of its application for deposit insurance from the Federal
        Deposit Insurance Corporation (“FDIC”); (iii) the date on which the Company
        advises the Consultant that it has abandoned its effort to obtain the
        Certificate of Authority; (iv) the date on which the Consultant receives
        written
        notice from the Company that it is terminating this Agreement “for cause” as
        hereafter defined; or (v) the death or disability of the Consultant (as used
        herein, the disability of the Consultant shall be deemed to have occurred
        when
        he has been unable to perform his services under this Agreement for a period
        of
        forty-five (45) consecutive days or the Consultant has made any claim under
        any
        disability insurance policy). As used herein, “for cause” shall be defined as
        follows: (a) the Consultant’s failure to use diligent and good faith efforts to
        perform the services requested by the Company under this Agreement (which
        failure is not cured within ten (10) days following written notice to the
        Consultant); (b) the Consultant’s willful misconduct or gross negligence in the
        performance of his services hereunder; (c) the Consultant’s conviction of a
        crime or involvement in any conduct which could, in the judgment of the Company,
        adversely impact on the reputation of the Company or the Bank or the prospects
        of the Bank receiving its Certificate of Authority; or (d) receipt by the
        Company of any notification from the FDIC or the State indicating that the
        Consultant would not be an acceptable candidate to be President of the
        Bank.

       

      3.  Compensation.
        During
        the term of this Agreement, as compensation for all services rendered by
        the
        Consultant under this Agreement, the Company shall pay the Consultant the
        following amounts:

       

      (a)  Consulting
        Fee.
        The
        Company shall pay the consultant the sum of eight thousand three hundred
        thirty-three 33/100 Dollars ($8,333.33) per month (prorated for any partial
        month), which shall be paid in arrears in two installments of four thousand
        one
        hundred and sixty-six 66/100 Dollars ($4,166.66) each on the 15th
        and
        30th
        day of
        each calendar month. 

       

      (b)  Medical
        Benefits.
        The
        Company shall reimburse the Consultant, not less frequently than monthly,
        upon
        presentment of appropriate documentation the amount paid by the Consultant
        to
        continue, without interruption, family medical benefits coverages under COBRA.
        

       

      (c)  Deductions.
        All such
        compensation shall be payable without deduction for federal income, social
        security, or state income taxes or any other amounts.

       

      

      
        
          
          

        

        
          1

          
            

          

        

        
          
          

        

      

       

      (d)  Deferred
        Compensation.
        Unless
        this Agreement has been terminated or the term has ended pursuant to Paragraph
        2
        hereof,
        the Company shall cause the Bank, subject to and upon approval of the Bank’s
        charter application and Articles of Incorporation by the State, to pay, in
        one
        lump sum, not later than thirty (30) days following such approval, an amount
        equal to $729.29 times the number of months of the term of this Agreement;
        and
        subject to and upon the Bank’s opening for business to the public, to pay, in
        one lump sum, not later than thirty (30) days following its opening for
        business, an amount equal to $1,354.39 times the number of months of the
        term of
        this Agreement, with such deferred payments representing the accumulated
        difference of fees paid under this Agreement and the approximate annualized
        amount of compensation, prorated for the term of this Agreement, as agreed
        upon
        in the successor Employment Agreement to be entered into pursuant to Paragraph
        11
        of this
        Agreement.

       

      (e)  Severance. If
        this
        Agreement shall be terminated by the Company for any reason other than “for
        cause” and without the employment agreement referenced in Paragraph 11
        hereof
        becoming effective, Consultant will be entitled to receive a lump sum payment,
        payable on the date of termination, of not less than the greater of (i) one-half
        of the fees which would have been payable for the remaining term of this
        Agreement from the date of termination or (ii) [$16,666.66.].

       

      4.  Duties.
        The
        Consultant shall render services conscientiously and shall devote his full
        time,
        attention, efforts and abilities to the organizational activities of the
        Company
        and the Bank, including without limitation obtaining regulatory approvals,
        site
        development activities, personnel matters and capital raising activities,
        at
        such times during the term hereof and in such manner as reasonably requested
        by
        the Company, and performed at such places and at such times as are reasonably
        convenient to the Company and the Consultant. The Consultant shall observe
        all
        policies and directives promulgated from time to time by the Company’s board of
        directors.

       

      5.  Expenses.
        The
        Consultant shall be reimbursed by the Company for all reasonable business
        expenses paid by the Consultant during the performance of his services
        hereunder; provided however, that any such reimbursement in excess of $250
        in
        any month shall require the prior written approval of the Company’s board of
        directors or a committee thereof. The Company’s obligation to reimburse the
        Consultant pursuant to this paragraph shall be subject to the presentation
        to
        the Company’s board of directors or a committee thereof by the Consultant of an
        itemized account of such expenditures, together with supporting vouchers,
        in
        accordance with any policies of the Company in effect from time to
        time.

       

      6.  Independent
        Contractor.
        It is
        expressly agreed that Consultant is acting as an independent contractor in
        performing services hereunder. The Company shall have no obligation to carry
        worker’s compensation insurance or any health or accident insurance to cover
        Consultant. The Company shall have no obligation to pay any contributions
        to
        social security, unemployment insurance, federal or state withholding taxes,
        nor
        to provide any other contributions or benefits which might be expected in
        an
        employer-employer relationship.

       

      7.  Covenant
        Not to Compete.
        The
        Consultant hereby acknowledges and recognizes the highly competitive nature
        of
        the Bank’s business and accordingly agrees that, during and for the period
        commencing with the date hereof and ending on the later of (i) December 31,
        2005
        or (ii) the termination, whether by the Company or the Consultant, of this
        Agreement, the Consultant will not, except as provided in Paragraph 4
        hereof,
        directly or indirectly:

       

      (a)  engage
        in
        any business activity related to the business of banking or financial services,
        or the formation of any entity for the purpose of engaging in such a business
        (other than on behalf of the Company to the extent that the Consultant is
        then
        in the employ of or consulting for the Company), whether such engagement
        is as
        an officer, director, proprietor, employee, partner, member, investor (other
        than as a passive investor in less than one percent (1%) of the outstanding
        capital stock of a publicly traded corporation), consultant, advisor, agent
        or
        other participant in another business,

       

      
        
          
          

        

        
          2

          
            

          

        

        
          
          

        

      

      (b)  assist
        others in engaging in any of the business activities prohibited to the
        Consultant under clause (a) above, or

       

      (c)  induce
        employees or consultants of the Company or any proposed employees of the
        Bank to
        engage in any activities hereby prohibited to the Consultant or to terminate
        their employment (prospective or otherwise).

       

      The
        term
        of this restriction shall be extended for a period of time equal to any period
        of time during which the Consultant violates or fails to observe the provisions
        of this paragraph.

       

      8.  No
        Disclosure of Confidential Information.
        The
        Consultant acknowledges that the Company’s trade secrets and private processes,
        as they may exist from time to time, and confidential information concerning
        the
        formation and development of the Bank, the Bank’s planned products, technical
        information regarding the Bank, and data concerning potential customers of
        and
        investors in the Bank are valuable, special, and unique assets to which the
        Company and the Bank have an interest, access to and knowledge of which assets
        are essential to the performance of the Consultant’s duties under this
        Agreement. In light of the highly competitive nature of the industry in which
        the business of the Company and Bank is conducted, the Consultant further
        agrees
        that all knowledge and information described in the preceding sentence not
        in
        the public domain and heretofore or in the future obtained by the Consultant
        as
        a result of his engagement by the Company shall be considered confidential
        information. In recognition of this fact, the Consultant agrees that the
        Consultant will not, during or after the term of this Agreement, disclose
        any of
        such secrets, processes, or information to any person or other entity for
        any
        reason or purpose whatsoever, except as necessary in the performance of the
        Consultant’s duties as a consultant to the Company and then only upon a written
        confidentiality agreement in such form and content as requested by the Company
        from time to time, nor shall Consultant make use of any of such secrets,
        processes or information for Consultant’s own purposes or for the benefit of any
        person or other entity (except the Company and its subsidiaries, if any)
        under
        any circumstances during or after the term of this Agreement.

       

      9.  Return
        of Property.
        Consultant acknowledges that all memoranda, notes, records, reports, manuals,
        books, papers, letters, client and customer lists, contracts, software programs,
        information and records, drafts of instructions, guides and manuals, and
        other
        documentation (whether in draft or final form), and other sales or financial
        information and aids relating to the Company’s or Bank’s business, and any and
        all other documents containing confidential information furnished to Consultant
        by any representative of the Company or otherwise acquired or developed by
        Consultant in connection with his duties under this Agreement (collectively,
        “Recipient Materials”) shall at all times be the property of the Company or the
        Bank, as applicable. Within three calendar days of the termination of this
        Agreement, Consultant shall return to the Company or Bank, as applicable,
        any
        Recipient Materials which are in his possession, custody or
        control.

       

      10.  Remedies.
        In the
        event that Consultant violates any of the provisions set forth in Paragraphs
        7,
        8,
        or
9
        of this
        Agreement, Consultant acknowledges that the Company and Bank would suffer
        immediate and irreparable harm and would not have an adequate remedy at law
        for
        money damages in the event that any of the covenants were not performed in
        accordance with their terms or otherwise were materially breached. Accordingly,
        Consultant agrees that, without the necessity of proving actual damages or
        posting bond or other security, the Company or Bank shall be entitled to
        temporary or permanent injunction or injunctions to prevent breaches of such
        performance and to specific enforcement of such covenants in addition to
        any
        other remedy to which the Company or Bank may be entitled, at law or in equity.
        In such a situation, the parties agree that the Company or Bank may pursue
        any
        remedy available, including declaratory relief, concurrently or consecutively
        in
        any order as to any breach, violation, or threatened breach or violation
        of
        Paragraphs 7,
        8,
        or
9
        of this
        Agreement, and the pursuit of any particular remedy or remedies shall not
        be
        deemed an election of remedies or waiver of the right to pursue any other
        remedy.

       

      
        
          
          

        

        
          3

          
            

          

        

        
          
          

        

      

      11.  Employment
        Agreement.
        The
        Consultant agrees to enter into an employment agreement with the Bank in
        form
        satisfactory to the Consultant and the Bank in their reasonable discretion,
        subject to the review, modification and approval of the Bank’s primary
        regulators, which employment agreement shall be effective as of the date
        on
        which the Bank opens for business, subject to and following the receipt of
        (and
        satisfaction of all conditions to opening for business under) its Certificate
        of
        Authority from the State and approval of its application for deposit insurance
        from the FDIC.

       

      12.  Assignment.
        Consultant’s
        obligations under this Agreement are personal in nature and may not be assigned
        by Consultant, this Agreement being entered into in reliance upon and in
        consideration of the personal skill and qualifications of Consultant. Any
        attempted assignment or transfer by Consultant of his obligations hereunder
        shall be void.

       

      13.  Modification.
        This
        Agreement may be modified by the parties hereto only by a written supplemental
        agreement executed by both parties.

       

      14.  Notice.
        All
        notices and other communications required or permitted to be given or delivered
        hereunder or by reason of the provisions of this Agreement shall be in writing
        and shall be deemed to have been properly given if (a) delivered personally,
        (b)
        delivered by a recognized overnight courier service, (c) sent by United States
        mail, or (d) sent by facsimile transmission followed by a confirmation copy
        delivered by recognized overnight courier service the next day. Such notices,
        requests, consents and other communications shall be sent to the respective
        parties as follows (or at such other address for a party as shall be specified
        by like notice to the other party):

       

      If
        to
        Company:

      Birmingham
        Bloomfield Bancorp, Inc.

      ______________

      _________,
        Michigan _____

      Attention:
        Chairman of the Board

      

      If
        to
        Consultant:

      Robert
        Farr

      ______________

      _________,
        Michigan _____

       

      Any
        notice or other communication given pursuant to this Agreement shall be
        effective (i) in the case of personal delivery, telex or facsimile transmission,
        when received; (ii) in the case of mail, upon the earlier of actual receipt
        or
        five (5) business days after deposit with the United States Postal Service,
        first class certified or registered mail, postage prepaid, return receipt
        requested; and (iii) in the case of a recognized overnight courier service,
        one
        (1) business day after delivery to the courier service together with all
        appropriate fees or charges and instructions for overnight
        delivery.

       

      
        
          
          

        

        
          4

          
            

          

        

        
          
          

        

      

      15.  Waiver
        of Breach.
        The
        waiver by either party of any breach of any provision of this Agreement shall
        not operate or be construed as a waiver of any subsequent breach.

       

      16.  Entire
        Agreement.
        The
        parties acknowledge and agree that this Agreement constitutes the complete
        and
        entire agreement between the parties; that each executed this Agreement based
        upon the express terms and provisions set forth herein; that, in accepting
        this
        consulting arrangement, Consultant has 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, are expressly superseded and revoked by this Agreement.

       

      17.  Successors,
        Binding Agreement.
        Subject
        to the restrictions on assignment contained herein, this Agreement shall
        inure
        to the benefit, and be enforceable by, the parties and their respective
        successors and assigns.

       

      18.  Validity.
        If any
        term or other provision of this Agreement is held to be illegal, invalid
        or
        unenforceable by any rule of law or public policy, (A) such term or provision
        shall be fully severable and this Agreement shall be construed and enforced
        as
        if such illegal, invalid or unenforceable provision were not a part hereof;
        (B)
        the remaining provisions of this Agreement shall remain in full force and
        effect
        and shall not be affected by such illegal, invalid or unenforceable provision
        or
        by its severance from this Agreement; and (C) there shall be added automatically
        as a part of this 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 Agreement is so broad as to be unenforceable, the provision
        shall be interpreted to be only as broad as is enforceable.

       

      19.  Applicable
        Law.
        This
        Agreement shall be governed by and construed in accordance with the laws
        of the
        State of Michigan, without regard to the laws that might otherwise govern
        under
        applicable principles of conflicts of laws.

       

      20.  Headings.
        The
        headings contained in this Agreement are for convenience of reference only
        and
        shall not affect in any way the meaning or interpretation of this
        Agreement.

       

      IN
        WITNESS WHEREOF, the parties hereto have executed this Agreement as of the
        date
        first set forth above.

       

       

      
        	 	 	CONSULTANT
	 	 	 
	 	 	/s/
                Robert Farr
	 	 	Robert Farr
	 	 	 
	 	 	 
	 	 	BIRMINGHAM BLOOMFIELD
                BANCORP,
                INC.
	 	 	 
	 	 	 
	 	 	By: /s/ Charles Pryde  
	 	 	
                Compensation Committee
                  Member

              

      

       

      

      
        
          
          

        

        
          5

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