SEC Contract Filing

Filing Date: 2017-03-06

Document Content:
<DOCUMENT>
<TYPE>EX-10.27
<SEQUENCE>2
<FILENAME>ex10-27.htm
<DESCRIPTION>EXHIBIT 10.27
<TEXT>
<HTML><HEAD><TITLE>ex10-27.htm</TITLE>
<!-- Created by RDG HTML Converter -->
</HEAD>
<BODY style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 10px; MARGIN-RIGHT: 10px">
<P id=PARA2 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA1 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><U><B>EXHIBIT</B></U><U><B> 10.27</B></U></FONT></P>
<P id=PARA4 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA3 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">DIRECTOR FEE SUMMARY</FONT></P>
<P id=PARA6 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA5 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 24.5pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Set forth below is a summary of the director fee arrangements for non-employee directors serving on the Board of Directors of Mercantile Bank Corporation (&#8220;Mercantile&#8221;). The directors' annual retainer fee is paid in the form of stock rather than in cash. In addition, an annual retainer fee is paid to each director who serves as Chairman of our Audit Committee, Compensation Committee and Governance and Nominating Committee.</FONT></P>
<P id=PARA8 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<TABLE id=TBL20 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 61.8%; TEXT-INDENT: 0px" cellSpacing=0 cellPadding=0 align=center border=0>

<TR>
<TD style="WIDTH: 59.9%; VERTICAL-ALIGN: top">&nbsp; </TD>
<TD style="WIDTH: 4.6%; VERTICAL-ALIGN: top">&nbsp; </TD>
<TD style="WIDTH: 37.3%; VERTICAL-ALIGN: top">
<P id=PARA9 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><U>Number of Shares</U></FONT></P></TD></TR>
<TR style="BACKGROUND-COLOR: #cceeff">
<TD style="WIDTH: 59.9%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #cceeff">
<P id=PARA10 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Board of Directors</FONT></P></TD>
<TD style="WIDTH: 4.6%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 37.3%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #cceeff">
<P id=PARA11 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">750</FONT></P></TD></TR>
<TR style="BACKGROUND-COLOR: #ffffff">
<TD style="WIDTH: 59.9%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD style="WIDTH: 4.6%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD style="WIDTH: 37.3%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&nbsp;</TD></TR>
<TR style="BACKGROUND-COLOR: #cceeff">
<TD style="WIDTH: 59.9%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #cceeff">
<P id=PARA12 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Committee Chairs:</FONT></P></TD>
<TD style="WIDTH: 4.6%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 37.3%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #cceeff">&nbsp; </TD></TR>
<TR style="BACKGROUND-COLOR: #ffffff">
<TD style="WIDTH: 59.9%; VERTICAL-ALIGN: top; PADDING-LEFT: 9pt; BACKGROUND-COLOR: #ffffff">
<P id=PARA14 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Audit</FONT></P></TD>
<TD style="WIDTH: 4.6%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 37.3%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<P id=PARA15 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">350</FONT></P></TD></TR>
<TR style="BACKGROUND-COLOR: #cceeff">
<TD style="WIDTH: 59.9%; VERTICAL-ALIGN: top; PADDING-LEFT: 9pt; BACKGROUND-COLOR: #cceeff">
<P id=PARA16 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Compensation</FONT></P></TD>
<TD style="WIDTH: 4.6%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 37.3%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #cceeff">
<P id=PARA17 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">250</FONT></P></TD></TR>
<TR style="BACKGROUND-COLOR: #ffffff">
<TD style="WIDTH: 59.9%; VERTICAL-ALIGN: top; PADDING-LEFT: 9pt; BACKGROUND-COLOR: #ffffff">
<P id=PARA18 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Governance and Nominating</FONT></P></TD>
<TD style="WIDTH: 4.6%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 37.3%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<P id=PARA19 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">150</FONT></P></TD></TR></TABLE>
<P id=PARA21 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"></FONT></P>
<P id=PARA22