Document:

EX-10.27

 Exhibit 10.27 

MANAGEMENT RIGHTS AGREEMENT 
 September
28, 2010 
 Equity Bancshares, Inc. 
 Suite 200 

7701 Kellogg Drive 
 Wichita, KS 67207 

Re: Management Rights 
 Gentlemen: 

This letter agreement (this “Agreement”) will confirm the agreement among Equity Bancshares, Inc. (the “Company”) and Equity Bank, National
Association (the “Bank”), of the one part, and Wolverine Trading Fund A, LLC (the “Fund”), of the other part, pursuant to which the Fund will be entitled to the following contractual rights in connection with the Fund’s
investment in the Company. In this Agreement, the boards of directors of the Company and the Bank are sometimes referred to individually as a “Board” and collectively as “Boards.” 

Information Rights 
 The Fund will be provided all
information distributed to the members of either of the Boards or their respective committees, quarterly and annual audited and unaudited consolidated financial statements, and copies of all reports required to be filed under applicable law or under
the terms of any outstanding debt instrument. The Fund after appropriate notification of management may visit and inspect the Company and the Bank (and their respective subsidiaries’) properties, books and records. In addition, the Fund may
consult with management of the Company and the Bank and their respective subsidiaries on the Fund’s views on matters relating to the operation of the business, provided that management of the Company shall not be contractually obligated to
consult with the Fund pursuant to the foregoing language more than once per quarter. 
 The foregoing rights granted to the Fund are subject to the
Company’s and the Bank’s respective right to withhold information from any meeting, or portion thereof, but only to the extent (i) reasonably necessary to preserve the Company’s or Bank’s attorney-client privilege if
applicable, or (ii) directly related to the Fund’s investment. 
 General Provisions 

For so long as the Fund owns any Purchased Shares (as such term is defined in that certain Stock Purchase Agreement dated even date herewith (the
“Purchase Agreement”) the Fund agrees to keep confidential any Confidential Information. In the event the Fund or anyone to whom the Fund transmits Confidential Information is requested or required by oral questions, interrogatories,
requests for information or documents, subpoenas, civil investigative demand or similar process to disclose any such information, the Fund shall (i) provide the Company with prompt notice so that the Company may seek a protective order or other
appropriate remedy and/or waive the Fund’s compliance with the provisions of this paragraph, (ii) furnish only that portion of such information that the Fund is advised by its counsel is legally required and (iii) at the
Company’s expense and direction, exercise its reasonable efforts to obtain reliable assurance that confidential treatment will be accorded such information. Notwithstanding the foregoing, the Fund may disclose any such information if required
by judicial or administrative process or by other requirements of law, national stock exchange or self-regulatory organization. 

 For the purpose of this Agreement, “Confidential Information” means information obtained from the
Company, except to the extent that such information can be shown to have been (i) previously known on a non-confidential basis by the Fund or its Representatives, (ii) in the public domain other than by breach of this Agreement by the Fund
or its Representatives, (iii) later acquired by the Fund from sources other than the Company or its subsidiaries not bound by any confidentiality obligation to the Company or its subsidiaries with respect to such information, or (iv) is
independently discovered, developed by or arrived at by the Fund without reference to the originating party’s Confidential Information by the Fund or its Representatives who had no access to the Confidential Information. 

For purposes of this Agreement, “Representative” shall mean, with respect to any person, any of such person’s officers, directors, employees,
agents, attorneys, accountants, consultants, equity financing partners, general partners, managers, investment managers, or financial advisors or other person associated with, or acting for or on behalf of, such person. 

The Fund shall comply with all federal securities laws in connection with its exercise of its rights under this agreement and its purchases and sales of the
Company’s securities, and agrees to be bound by any “insider trading” policy of the Company, reasonably acceptable to the Fund, during any period during which it is exercising its rights under this agreement. 

The aforementioned rights are intended to satisfy the requirement of management rights for purposes of qualifying the Fund’s investments in the Company
as “venture capital investments” for purposes of the Department of Labor “plan assets” regulation, 29 C.F.R. §2510.3-101. In the event the aforementioned rights are not satisfactory for such purpose, the Company and the Fund
shall reasonably cooperate in good faith to agree upon mutually satisfactory management rights that satisfy such regulations. 
 The provisions of this
Agreement shall survive closing under the Purchase Agreement and shall continue and be binding upon the Company and the Bank for so long as the Fund continues to own all of the Purchased Shares. The rights described herein shall not be assignable
without the written consent of the Company; provided, however, that the Fund may assign its rights hereunder to any affiliate of the Fund which assumes the obligations of the Fund hereunder. 

The Company and the Bank agree that the Fund will not have an adequate remedy at law for a breach by the Company of this Agreement and therefore that upon any
such breach the Fund shall be entitled to enforce this Agreement by injunction or with other equitable remedies. 
 The rights granted to the Fund hereunder
are not in substitution for, and shall not be deemed to be in limitation of, any rights otherwise available to the Fund as a holder of securities of the Company or pursuant to any other agreement with the Company or the Bank. 

[SIGNATURE PAGE FOLLOWS] 

  
 2 

 IN WITNESS WHEREOF, this letter agreement has been duly executed by the parties set forth below as of the date
written above. 
  

					
	EQUITY BANCSHARES, INC.	  	
			
	By:	 	 /s/ Brad S. Elliott
	  	
	Name:	 	Brad S. Elliott	  	
	Title:	 	Chairman and Chief Executive Officer	  	
		
	EQUITY BANK, NATIONAL ASSOCIATION	  	
			
	By:	 	 /s/ Brad S. Elliott
	  	
	Name:	 	Brad S. Elliott	  	
	Title:	 	Chairman and Chief Executive Officer	  	
		
	WOLVERINE TRADING FUND A, LLC	  	
			
	By:	 	 /s/ Eric J. Henschel
	  	
	Name:	 	Eric J. Henschel	  	
	Title:	 	Managing MemberEX-10.28

 Exhibit 10.28 

EQUITY BANK 
 MARKET PRESIDENT
INCENTIVE PLAN 
 (Metro) 

MARKET PLAN 
 FOR 2015 CALENDAR
YEAR 
  

	
	  

	Participant Name

 PURPOSE 

This plan is designed to motivate and reward participants for achieving and exceeding specified individual goals which drive profitability while maintaining
asset quality, demonstrating consistent and effective teamwork, and making referrals to business partners. 
 PLAN OVERVIEW

 Earned Incentives will be paid to the producer for new loan and deposit production and fee income produced according to a predetermined schedule
as long as the producer meets certain quarterly and annual goals and maintains acceptable asset quality levels. 
 The plan will be in effect from
January 01, 2015 until December 31, 2015. Management reserves the right to review, amend, alter, revise or cancel any aspect of this plan at any time. Interpretation of the plan rules will be at the sole discretion of the EVP or the
CEO. 
 Management reserves the right to adjust any incentive awards based upon various qualitative factors such as quality of records and documents,
business ethics, individual cooperation and teamwork, etc. 
 Market Production Quarterly Incentives will be paid out as follows: 50% cash paid within 45
days following production quarter, 50% stock options granted on December 31, 2015 with the vesting schedule below. 
  

	
	 Stock Options Vesting Schedule

	 Year 1 = 20%

	 Year 2 = 40%

	 Year 3 = 60%

	 Year 4 = 80%

	 Year 5 = 100%

 To be eligible for the plan, the Market President must be in good standing and an employee of the bank on the day the
incentive is paid. Accumulated incentive amounts are forfeited at termination of employment. No incentive is actually earned or due until it is actually paid to the employee. If an employee is on probation, the employee will not be eligible
to participate in the plan during the probationary period. 

  

									
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 PLAN DETAILS 

The Market President will accumulate a “pool” of potential quarterly incentives based on undiluted earnings per share of Equity Bancshares, Inc.,
market production, market fee income and market deposit production during each calendar quarter. Incentives earned will be paid quarterly and will be adjusted by asset quality factors. Incentives will also include a discretionary factor. Secondary
market fees are not included under this plan, but may be addressed separately on an individual basis. 
 At the beginning of the incentive period a baseline
beginning loan portfolio balance will be determined for each market. A loan portfolio balance for the end of the period will also be determined for each market. Then, a quarterly goal amount for outstanding loan balances will be calculated for each
month based on the beginning and ending portfolios. At the end of each quarter, a percentage of actual outstanding loans to “goal” outstanding loans will be computed. This percentage may be more or less than 100% and is referred to as
Outstanding Loan Goal Percentage. In the same manner, a quarterly Loan Fee Goal and Non-Interest Bearing (NIB) Deposit Growth goal will be established and quarterly progress monitored and computed. 

The Outstanding Loan Goal percentage, the Loan Fee goal percentage and the NIB Deposit goal percentage will be three of the factors making up the Earned
Incentive Percentage. The other factors will be Undiluted Earnings Per Share and a Discretionary factor. The Outstanding Market Goal will be 25%, the Market Loan Fee Goal will be 15% and the Market NIB Deposit goal will be 25% of the Earned
Incentive Percentage. The Undiluted Earnings Per Share will be 25% and the Discretionary Factor will be 10%. 
 Every quarter end incentives will be
computed on new market loan production for that quarter based on the Incentive Amount percentages. This amount (Possible Incentive) will be discounted by any applicable Asset Quality Factors, thus arriving at Tentative Incentive. The product of that
computation will be multiplied by the Earned Incentive Percentage, thus arriving at the Earned Incentive. Any loan that is “Placed” in the market portfolio, by management, will be excluded from the calculation. 

The overall annual incentive target for all factors will be 25% of employees’ base salary. If the Target 100-124% goal is made, 100% of the calculated
payment will be made. If the Threshold goal of 85-99% is made, 50% of the calculated payment will be made. If the Threshold of 85% is not made, no payment will be made. If an Exceptional goal of 125% or greater is made, 125% of the calculated
payment will be made. 

  

									
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 Participations 

Loan incentives are only paid based on loan balances or loan fees retained by Equity Bank. Any portions sold to other institutions will not qualify. However,
any participation sold which is subsequently bought back (in the same calendar year originated) may be included in incentive computations. Participations purchased from other institutions may also qualify for incentives. Determination of what
participations qualify for incentives will be at the sole discretion of the EVP or the CEO. 
 Responsibility of Participant 

It is the responsibility of participant in the plan to report on a timely basis the production eligible for incentive and to provide the appropriate
information (e.g. names, account numbers, balances, pricing sheets, etc.) Failure to provide the information will disqualify the item from incentives in that quarter. Management will not consider late or incomplete information. Participant will be
provided an incentive computation sheet for review after all eligible information has been submitted and prior to payment. Once payment for the quarter, no additional items will be considered. 

Below is the payout allocation which the Earned Incentive will be based on. 
  

					
	 Goals
	  	Weight	 
		
	 Earnings per Share - Undiluted
	  	 	25	% 
		
	 Market Loan Growth
	  	 	25	% 
		
	 Market Deposit Production (All NIB)
	  	 	25	% 
		
	 Market Loan Fee Income
	  	 	15	% 
		
	 Discretionary
	  	 	10	% 
		  	  
	  
	 
		
	 Totals
	  	 	100	% 

  

									
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 ASSET QUALITY FACTORS 

All quarterly incentives under this plan will be reduced for poor asset quality factors according to the following schedule for the market (purchased loans
will be excluded): 
  

			
	 ITEM
	  	 DEDUCTION

		
	Delinquency -30 days and over > 1.0%	  	25% reduction of all incentives if delinquency exceeds 1%; additional 15% reduction for each 25 basis points above 1%.
		
	Non-performing loans > 0.50%	  	25% reduction of all incentives if Non-performing loans exceed .50% of portfolio; additional 15% reductions for each 10 basis points above .50%.
		
	Criticized + Classified loans>10%	  	50% reduction in all incentives if CLs exceed 10%; additional 20% reduction for each additional 5%.
		
	Net Charge Offs > .35% of portfolio or $100,000 annually, whichever is less.	  	Up to 100% reduction in incentives.
	1-Tier Risk Rating Downgrades Resulting in a Risk Rating of 6 or lower Initiated by sources other than Commercial Banker.	  	25% reductions in all incentives.
		
	Collateral and Credit exceptions Less than 25% at quarter end	  	1% reduction of all incentives for every 1% that exceptions exceed 25%

 My signature below indicates receipt of the Market President Incentive Plan and my agreement to adhere to the parameters of
it. 
 Agreed and Accepted this      day of             ,
20     
  

	
	  

	Name, Title

  

									
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