BYRON BANK
DEFERRED COMPENSATION PLAN FOR DIRECTORS

(Effective January 1, 2008)

INDEX

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BYRON BANK
DEFERRED COMPENSATION PLAN FOR DIRECTORS
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Article 1

Establishment and Purpose

         1.1         History and Purpose

        Byron Bank (formerly known as Byron Center State Bank) (“Company”) previously entered into Deferred Compensation Agreements with some of its Directors. A Deferred Compensation Agreement allowed a Director to defer all or part of the annual retainer fee for serving as a Director.

         1.2         This Document

        By this document, the Company is adopting the Byron Bank Deferred Compensation Plan for Directors effective January 1, 2008. The Plan replaces the Deferred Compensation Agreements with the individual Directors.

         1.3         Status of Plan Under ERISA

        The only Participants in the Plan are Directors. Each Director is treated as a self-employed individual with regard to the Director’s Fee paid to the Director. As a result, because the Plan does not benefit “employees,” the Plan is not subject to ERISA.

         1.4         Compliance with Section 409A

        The Plan provides deferred compensation under Section 409A of the Code and is intended to be interpreted consistent with the requirements of Section 409A of the Code.

Article 2

Definitions

        The following terms shall have the meanings described in this Article unless the context clearly indicates another meaning. All references in the Plan to specific articles or sections shall refer to Articles or Sections of the Plan unless otherwise stated.

         2.1         Account

        “Account” means the bookkeeping record of the Participant’s benefits under the terms of the Plan.

         2.2         Beneficiary

        “Beneficiary” means the beneficiary designated in writing by the Participant to receive benefits from the Plan in the event of his death. The Beneficiary shall be designated on a form provided by the Plan Administrator, and the Participant may change the Beneficiary designation at any time by signing and delivering a new form to the Plan Administrator.

        If the Participant designates a trust as Beneficiary, the Plan Administrator shall determine the rights of the trustee without responsibility for determining the validity, existence, or provisions of the trust. Further, the Plan Administrator shall not have responsibility for the application of sums paid to the trustee or for the discharge of the trust.

        If a Participant designates the Participant’s spouse as Beneficiary and the Participant and spouse are subsequently divorced, the judgment of divorce shall be considered to revoke the prior Beneficiary designation of the spouse.

        The rules of this paragraph apply unless provided otherwise in the Participant’s Beneficiary designation form. If the Participant designates one primary Beneficiary and the Beneficiary dies after the Participant but before benefit payments are completed, any remaining benefits shall be payable to the secondary Beneficiary. If the Participant fails to designate a secondary Beneficiary or if no secondary Beneficiary survives the primary Beneficiary, any remaining benefits shall be payable to the deceased primary Beneficiary’s heirs in the manner described in the next paragraph. If the Participant designates more than one primary Beneficiary or more than one secondary Beneficiary and a Beneficiary dies before benefit payments are completed, the share payable to the deceased Beneficiary shall be paid to the deceased Beneficiary’s heirs in the manner described in the next paragraph as if the Beneficiary was the Participant.

        If the Participant fails to designate a Beneficiary, or if no designated Beneficiary survives the Participant, payment shall be made in equal shares to the members of the first of the classes listed below having a living member on the date the distribution is payable. The classes, in order of priority, are as follows:

        The facts shown by the records of the Plan Administrator at the time of death shall be conclusive as to the identity of the proper payee, and the records of Trustee shall be conclusive as to the amount properly payable. The distribution made in accordance with such state of facts shall constitute a complete discharge of all obligations under the provisions of the Plan.

         2.3         Board of Directors

        “Board of Directors” means the Company’s board of directors.

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         2.4         Calendar Year

        “Calendar Year” means the period of January 1 through the following December 31.

         2.5         Change in Control

        “Change in Control” means any of the following types of “change in control events” under Section 409A of the Code:

However, for purposes of this Section, 75% shall be substituted for 50% in the definition of the term "change in ownership" in Treas. Reg.ss.1.409A-3(i)(5)(v).

         2.6         Company

        “Company” means Byron Bank, a Michigan banking corporation.

         2.7         Deferred Compensation Agreement

        “Deferred Compensation Agreement” means a deferred compensation agreement between a Director and the Company, as in effect before the effective date of the Plan.

         2.8         Director

        “Director” means a member of the Board of Directors or a former member of the Board of Directors who has vested benefits under the Plan.

         2.9         Director’s Fee

        “Director’s Fee” means the annual retainer paid by the Company to a Director for serving on the Board of Directors. The term “Director’s Fee” does not include fees paid for attending monthly meetings of the Board of Directors.

         2.10         Distributable Event

        “Distributable Event” means an event for which a distribution of benefits is made under Section 5.1.

         2.11         Elective Deferrals

        “Elective Deferrals” means amounts deferred under Section 4.2 from the Director’s Fee otherwise payable to a Participant.

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         2.12         ERISA

        “ERISA” means the Employee Retirement Income Security Act of 1974, as amended.

         2.13         Life Insurance Policy

        “Life Insurance Policy” means, with regard to any Participant, the life insurance policy (if any) purchased by the Company on the Participant’s life to pre-fund the Company’s obligations under the Plan.

         2.14         Participant

        “Participant” means a Director who has vested benefits under the Plan.

         2.15         Plan

        “Plan” means the Byron Bank Deferred Compensation Plan for Directors.

         2.16         Plan Administrator

        “Plan Administrator” means the Company or the committee designated by the Company as the Plan Administrator under Article 7.

         2.17         Separation from Service

        “Separation from Service” means a Participant’s “separation from service” from the Company under Section 409A of the Code. Generally, this occurs if all of the following requirements are satisfied:

         2.18         Specified Employee

        “Specified Employee” means a Participant who is a “specified employee” under Section 409A of the Code. Generally, this occurs if the Participant is a “key employee&#8221