<SEC-DOCUMENT>0001171843-16-012688.txt : 20161027
<SEC-HEADER>0001171843-16-012688.hdr.sgml : 20161027
<ACCEPTANCE-DATETIME>20161027163042
ACCESSION NUMBER:		0001171843-16-012688
CONFORMED SUBMISSION TYPE:	S-8
PUBLIC DOCUMENT COUNT:		6
FILED AS OF DATE:		20161027
DATE AS OF CHANGE:		20161027
EFFECTIVENESS DATE:		20161027

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			QCR HOLDINGS INC
		CENTRAL INDEX KEY:			0000906465
		STANDARD INDUSTRIAL CLASSIFICATION:	STATE COMMERCIAL BANKS [6022]
		IRS NUMBER:				421397595
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		S-8
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-214282
		FILM NUMBER:		161955888

	BUSINESS ADDRESS:	
		STREET 1:		3551 7TH STREET
		CITY:			MOLINE
		STATE:			IL
		ZIP:			61265
		BUSINESS PHONE:		3097363580

	MAIL ADDRESS:	
		STREET 1:		3551 7TH STREET
		CITY:			MOLINE
		STATE:			IL
		ZIP:			61265

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	QUAD CITY HOLDINGS INC
		DATE OF NAME CHANGE:	19930805
</SEC-HEADER>
<DOCUMENT>
<TYPE>S-8
<SEQUENCE>1
<FILENAME>fs8_102716.htm
<DESCRIPTION>FORM S-8
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<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

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    <TD STYLE="width: 50%">As filed with the Securities and Exchange Commission on October 27, 2016 </TD>
    <TD STYLE="width: 50%; text-align: right">Registration
No. 333-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border-bottom: Black 2.25pt double">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.25pt double">&nbsp;</TD></TR>
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<P STYLE="font-size: 10pt; margin: 0pt 0"></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;<B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>UNITED STATES</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>Washington, D.C. 20549</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>FORM S-8</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>REGISTRATION STATEMENT</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">UNDER<BR>
THE SECURITIES ACT OF 1933</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">___________________</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>QCR Holdings, Inc.</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><FONT STYLE="font-size: 7pt">(Exact Name of Registrant as Specified
in Its Charter)</FONT></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font-size: 10pt; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="width: 33%">
        <P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>Delaware</B></P>
        <P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><FONT STYLE="font-size: 7pt">(State or other jurisdiction
        of</FONT></P>
        <P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><FONT STYLE="font-size: 7pt">incorporation or organization)</FONT></P></TD>
    <TD STYLE="vertical-align: top; width: 34%; font-size: 10pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 33%">
        <P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>42-1397595</B></P>
        <P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><FONT STYLE="font-size: 7pt">(I.R.S. Employer</FONT></P>
        <P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><FONT STYLE="font-size: 7pt">Identification No.)</FONT></P></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>3551 Seventh Street</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>Moline, Illinois 61265</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>(309) 743-7721</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><FONT STYLE="font-size: 7pt">(Address, including zip code, and telephone
number, including area code, of registrant&rsquo;s principal executive offices)</FONT></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">___________________</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>QCR Holdings, Inc. 2016 Equity Incentive Plan</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><FONT STYLE="font-size: 9pt">(Full Title of the Plan)</FONT></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">___________________</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>Todd A. Gipple</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>Executive Vice President, Chief Operating Officer and Chief Financial
Officer</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>3551 Seventh Street</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>Moline, Illinois 61265</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>(309) 743-7745</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><FONT STYLE="font-size: 7pt">(Name, address, including zip code,
and telephone number, including area code, of agent for service)</FONT></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><I>Copy to:</I></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>Robert M. Fleetwood, Esq.</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>Barack Ferrazzano Kirschbaum &amp; Nagelberg LLP</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>200 West Madison Street, Suite 3900</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>Chicago, Illinois 60606</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>(312) 629-4329</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"><FONT STYLE="font-size: 8pt">Indicate by check mark whether the
registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the
definitions of &ldquo;large accelerated filer,&rdquo; &ldquo;accelerated filer&rdquo; and &ldquo;smaller reporting company&rdquo;
in Rule 12b-2 of the Securities Exchange Act. (Check one):</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="2" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 24%; text-align: center"><FONT STYLE="font-size: 8pt">Large accelerated filer&nbsp;&#9744;</FONT></TD>
    <TD STYLE="width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 23%; text-align: center"><FONT STYLE="font-size: 8pt">Accelerated filer&nbsp;&#9746;</FONT></TD>
    <TD STYLE="width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 24%; text-align: center"><FONT STYLE="font-size: 8pt">Non-accelerated filer&nbsp;&#9744;</FONT></TD>
    <TD STYLE="width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 26%; text-align: center"><FONT STYLE="font-size: 8pt">Smaller reporting company&nbsp;&#9744;</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 8pt">(Do not check if a smaller reporting company)</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>CALCULATION OF REGISTRATION FEE</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 6pt">&nbsp;</P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36%; border-top: Black 2.25pt double; text-align: center; vertical-align: middle">
        <P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><FONT STYLE="font-size: 8pt"><B>Title of</B></FONT></P>
        <P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><FONT STYLE="font-size: 8pt"><B>securities to be registered</B></FONT></P></TD>
    <TD STYLE="width: 17%; border-top: Black 2.25pt double; border-left: Black 1pt solid; text-align: center; vertical-align: middle"><P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><FONT STYLE="font-size: 8pt"><B>&nbsp;Amount</B></FONT></P>
        <P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><FONT STYLE="font-size: 8pt"><B>to be</B></FONT></P>
        <P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><FONT STYLE="font-size: 8pt"><B>registered (1)</B></FONT></P></TD>
    <TD STYLE="width: 15%; border-top: Black 2.25pt double; border-left: Black 1pt solid; text-align: center; vertical-align: middle"><P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><FONT STYLE="font-size: 8pt"><B>Proposed</B></FONT></P>
        <P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><FONT STYLE="font-size: 8pt"><B>maximum</B></FONT></P>
        <P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><FONT STYLE="font-size: 8pt"><B>offering price</B></FONT></P>
        <P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><FONT STYLE="font-size: 8pt"><B>per share (2)</B></FONT></P></TD>
    <TD STYLE="width: 15%; border-top: Black 2.25pt double; border-left: Black 1pt solid; text-align: center; vertical-align: middle"><P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><FONT STYLE="font-size: 8pt"><BR>
        <B>Proposed</B></FONT></P>
        <P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><FONT STYLE="font-size: 8pt"><B>maximum aggregate</B></FONT></P>
        <P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><FONT STYLE="font-size: 8pt"><B>offering price (2)</B>&nbsp;</FONT></P></TD>
    <TD STYLE="width: 17%; border-top: Black 2.25pt double; border-left: Black 1pt solid; text-align: center; vertical-align: middle"><P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><FONT STYLE="font-size: 8pt"><B>&nbsp;Amount
                                         of</B></FONT></P>
        <P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><FONT STYLE="font-size: 8pt"><B>registration</B></FONT></P>
        <P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><FONT STYLE="font-size: 8pt"><B>fee</B></FONT></P></TD></TR>
<TR>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Common Stock, par value
    $1.00 per share</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt">400,000</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt">$31.30</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt">$12,520,000.00</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt">$1,451.07</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-align: justify; text-indent: -21pt; margin: 0pt 0 0pt 0.5in"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 9pt"><FONT STYLE="font-size: 8pt">(1)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 8pt">This Registration
                                         Statement on Form S-8 covers: (i) shares of common stock, par value $1.00 per share,
                                         of QCR Holdings, Inc. (the &ldquo;Registrant&rdquo;) issuable pursuant to the QCR Holdings,
                                         Inc. 2016 Equity Incentive Plan (the &ldquo;Plan&rdquo;); and (ii) pursuant to Rule 416(a)
                                         under the Securities Act of 1933, as amended (the&nbsp;&ldquo;Securities Act&rdquo;),
                                         any additional shares that become issuable under the Plan by reason of any future stock
                                         dividend, stock split or other similar transaction.</FONT></TD></TR></TABLE>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -21pt; margin: 0pt 0 0pt 0.5in"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 9pt"><FONT STYLE="font-size: 8pt">(2)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 8pt">Estimated
                                         solely for purposes of calculating the registration fee in accordance with Rule 457(c)
                                         and Rule 457(h) of the Securities Act on the basis of $31.30, the average of the high
                                         and low sale prices of the Registrant&rsquo;s common stock as reported on the Nasdaq
                                         Global Market on October 21, 2016.</FONT></TD></TR></TABLE>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"></P>

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<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>PART I</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"><B>Item&nbsp;1.&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Plan Information.*</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0; text-indent: 21pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"><B>Item&nbsp;2.&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Registrant Information and Employee Plan Annual
Information.*</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">____________________________________</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">* Information required by Item 1 and Item 2 of Part I to be contained
in the Section&nbsp;10(a) prospectus is omitted from this Registration Statement in accordance with the provisions of Rule 428
under the Securities Act and the introductory note to Part I of Form S-8. The documents containing the information specified in
Part I have been or will be delivered to the participants in the Plan as required by Rule 428(b). These documents and the documents
incorporated by reference in this Registration Statement pursuant to Item 3 of Part II, taken together, constitute a prospectus
that meets the requirements of Section 10(a) of the Securities Act.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>PART II</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"><B>Item&nbsp;3.&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Incorporation of Documents by Reference.</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0; text-indent: 21pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 1in; margin: 0pt 0">The following documents previously filed by the Registrant with the
Securities and Exchange Commission (the &ldquo;Commission&rdquo;) are incorporated herein by reference:</P>

<P STYLE="font-size: 10pt; text-indent: 1in; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">(a)</TD><TD>The Registrant&rsquo;s Annual Report on Form 10-K for the fiscal year ended December&nbsp;31,&nbsp;2015 filed with the Commission
on March 11, 2016;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">(b)</TD><TD>The Registrant&rsquo;s Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2016 filed with the Commission
on May 6, 2016;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">(c)</TD><TD>The Registrant&rsquo;s Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2016 filed with the Commission
on August 5, 2016;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">(d)</TD><TD>our Current Reports on Form 8-K filed on February&nbsp;18, 2016,&nbsp;February&nbsp;23, 2016, May&nbsp;10, 2016, May&nbsp;18,
2016 (except the information furnished under Item&nbsp;7.01 thereof), May 23, 2016 (except the information furnished under Item
7.01 thereof), July 26, 2016, August 29, 2016, September 1, 2016 and October 21, 2016; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">(e)</TD><TD STYLE="text-align: justify">The description of our common stock contained in our Registration Statement on Form 8-A filed with
the Commission on August 9, 1993, including any amendments or reports filed for the purpose of updating such description.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0; text-indent: 1in">Each document or report subsequently filed by
the Registrant with the Commission pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act after the date of this Registration
Statement, but prior to the filing of a post-effective amendment to this Registration Statement which indicates that all securities
offered by this Registration Statement have been sold or which deregisters all such securities then remaining unsold, shall be
deemed to be incorporated by reference into this Registration Statement from the date of filing of such document or report; provided,
however, that documents or information deemed to have been furnished and not filed in accordance with the rules of the Commission
shall not be deemed incorporated by reference in this Registration Statement.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0; text-indent: 1in">Any statement contained in the documents incorporated,
or deemed to be incorporated, by reference herein shall be deemed to be modified or superseded for purposes of this Registration
Statement and the prospectus which is a part hereof to the extent that a statement contained herein or in any other subsequently
filed document which also is, or is deemed to be, incorporated by reference herein modifies or supersedes such statement. Any such
statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this Registration
Statement or the prospectus which is a part hereof.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0.5in 0pt 0">&nbsp;</P>

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<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0.5in 0pt 0"></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0.5in 0pt 0"></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0.5in 0pt 0"><B>Item&nbsp;4.&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Description of Securities.</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0.5in 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0; text-indent: 1in">Not applicable.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0.5in 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0.5in 0pt 0"><B>Item&nbsp;5.&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interests of Named Experts and Counsel.</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0.5in 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0.5in 0pt 0; text-indent: 1in">Not applicable.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0.5in 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0.5in 0pt 0"><B>Item&nbsp;6.&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Indemnification of Directors and Officers.</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0.5in 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0; text-indent: 1in"><B><I>Delaware Law</I></B>. Section&nbsp;145 of
the Delaware General Corporation Law permits a corporation to indemnify any person who was or is a party or is threatened to be
made a party to any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative or investigative,
by reason of the fact that the person is or was a director, officer, employee or agent of the corporation or another enterprise
if serving at the request of the corporation. Depending on the character of the proceeding, a corporation may indemnify against
expenses (including attorneys&rsquo; fees), judgments, fines and amounts paid in settlement actually and reasonably incurred in
connection with such action, suit or proceeding if the person indemnified acted in good faith and in a manner reasonably believed
to be in or not opposed to the best interests of the corporation and, with respect to any criminal action or proceeding, had no
reasonable cause to believe the person&rsquo;s conduct was unlawful. In the case of an action by or in the right of the corporation,
no indemnification may be made with respect to any claim, issue or matter as to which such person shall have been adjudged to be
liable to the corporation unless and only to the extent that the Delaware Court of Chancery or the court in which such action or
suit was brought shall determine that, despite the adjudication of liability, such person is fairly and reasonably entitled to
indemnity for such expenses which the court shall deem proper. Section&nbsp;145 further provides that to the extent a director
or officer of a corporation has been successful on the merits or in the defense of any action, suit or proceeding referred to above,
or in the defense of any claim, issue or matter therein, he or she shall be indemnified against expenses (including attorneys&rsquo;
fees) actually and reasonably incurred by him or her in connection therewith.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0; text-indent: 1in">Section&nbsp;102(b)(7) of the Delaware General
Corporation Law permits a corporation to provide in its certificate of incorporation that a director of the corporation shall not
be personally liable to the corporation or its stockholders for monetary damages for breach of fiduciary duty as a director, except
for liability: (a)&nbsp;for any breach of the director&rsquo;s duty of loyalty to the corporation or its stockholders, (b)&nbsp;for
acts or omissions not in good faith or which involve intentional misconduct or a knowing violation of law, (c)&nbsp;for payments
of unlawful dividends or unlawful stock repurchases, redemptions or other distributions or (d)&nbsp;for any transactions from which
the director derived an improper personal benefit.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0; text-indent: 1in"><B><I>Certificate of Incorporation and Bylaws</I></B>.
Article IX of our Certificate of Incorporation and Section 7.2 of our Bylaws provide that we shall, to the full extent permitted
by law, indemnify those persons whom we may indemnify pursuant thereto, and contain provisions substantially similar to Section&nbsp;145
of the Delaware General Corporation Law.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0; text-indent: 1in"><B><I>Liability Insurance</I></B>. We have obtained
directors&rsquo; and officers&rsquo; liability insurance. The policy provides for $15.0 million in coverage including prior acts
dating to the Company&rsquo;s inception and liabilities under the Securities Act.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0.5in 0pt 0"><B>Item&nbsp;7.&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exemption from Registration Claimed.</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0.5in 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0.5in 0pt 0; text-indent: 1in">Not applicable.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0.5in 0pt 0">&nbsp;</P>

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<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0.5in 0pt 0"><B>Item&nbsp;8.&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exhibits.</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0.5in 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0.5in 0pt 0; text-indent: 1in">See Exhibit Index, which is incorporated herein by reference.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0.5in 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0.5in 0pt 0"><B>Item&nbsp;9.&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Undertakings.</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0.5in 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(a)</TD><TD STYLE="text-align: justify">The undersigned Registrant hereby undertakes:</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">(1)</TD><TD STYLE="text-align: justify">To file, during any period in which offers or sales are being made, a post-effective amendment
to this Registration Statement:</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.25in">(i)</TD><TD STYLE="text-align: justify">to include any prospectus required by Section 10(a)(3) of the Securities Act;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.25in">(ii)</TD><TD STYLE="text-align: justify">to reflect in the prospectus any facts or events arising after the effective date of this Registration
Statement (or the most recent post-effective amendment hereof) which, individually or in the aggregate, represent a fundamental
change in the information set forth in this Registration Statement. Notwithstanding the foregoing, any increase or decrease in
volume of securities offered (if the total dollar value of securities offered would not exceed that which was registered) and any
deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with
the Commission pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more than 20% change
in the maximum aggregate offering price set forth in the &ldquo;Calculation of Registration Fee&rdquo; table in the effective registration
statement; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.25in">(iii)</TD><TD STYLE="text-align: justify">to include any material information with respect to the plan of distribution not previously disclosed
in this Registration Statement or any material change to such information in this Registration Statement; provided, however, that
paragraphs (a)(1)(i) and (a)(1)(ii) above do not apply if the information required to be included in a post-effective amendment
by those paragraphs is contained in reports filed with or furnished to the Commission by the Registrant pursuant to Section 13
or Section&nbsp;15(d) of the Exchange Act that are incorporated by reference in this Registration Statement.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">(2)</TD><TD STYLE="text-align: justify">That, for the purpose of determining any liability under the Securities Act, each such post-effective
amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such
securities at that time shall be deemed to be the initial bona fide offering thereof.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">(3)</TD><TD STYLE="text-align: justify">To remove from registration by means of a post-effective amendment any of the securities being
registered which remain unsold at the termination of the offering.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(b)</TD><TD STYLE="text-align: justify">The undersigned Registrant hereby undertakes that, for purposes of determining any liability under
the Securities Act, each filing of the Registrant&rsquo;s annual report pursuant to Section&nbsp;13(a)&nbsp;or Section 15(d) of
the Exchange Act (and, where applicable, each filing of an employee benefit plan&rsquo;s annual report pursuant to Section 15(d)
of the Exchange Act) that is incorporated by reference in this Registration Statement shall be deemed to be a new registration
statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the
initial bona fide offering thereof.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(c)</TD><TD STYLE="text-align: justify">Insofar as indemnification for liabilities arising under the Securities Act may be permitted to
directors, officers and controlling persons of the Registrant pursuant to the foregoing provisions, or otherwise, the Registrant
has been advised that in the opinion of the Commission such indemnification is against public policy as expressed in the Securities
Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment
by the Registrant of expenses incurred or paid by a director, officer or controlling person of the Registrant in the successful
defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities
being registered, the Registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent,
submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed
in the Securities Act and will be governed by the final adjudication of such issue.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0.5in 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0.5in 0pt 0; text-indent: 1.5in">&nbsp;</P>

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<P STYLE="font-size: 10pt; margin: 0pt 0.5in 0pt 0"></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>SIGNATURES</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 1in; margin: 0pt 0">Pursuant to the requirements of the Securities
Act, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form&nbsp;S-8
and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the
City of Moline, State of Illinois, on this 27<SUP>th</SUP> day of October, 2016.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 1in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 1in; margin: 0pt 0"></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; vertical-align: middle">QCR HOLDINGS, INC.</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; width: 5%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; width: 3%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 27%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 65%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">By:&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 1.1pt solid">/s/ Todd A. Gipple</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle">Todd A. Gipple</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; vertical-align: middle">Executive Vice President, Chief Operating Officer</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; vertical-align: middle; padding-left: 10pt">and Chief Financial Officer</TD></TR>
</TABLE>


<P STYLE="font-size: 10pt; text-align: justify; text-indent: 1in; margin: 0pt 0"></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 1in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 1in; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>POWER OF ATTORNEY</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 61pt; margin: 0pt 0">Each person whose signature appears below hereby
constitutes and appoints each of Douglas M. Hultquist and Todd A. Gipple his or her true and lawful attorney-in-fact and agent,
acting alone, with full power of substitution and resubstitution, to sign on his or her behalf, individually and in each capacity
stated below, all amendments and post-effective amendments to this Registration Statement on Form S-8 and to file the same, with
all exhibits thereto and any other documents in connection therewith, with the Commission under the Securities Act, granting unto
said attorneys-in-fact and agents full power and authority to do and perform each and every act and thing requisite and necessary
to be done in and about the premises, as fully and to all intents and purposes as each might or could do in person, hereby ratifying
and confirming each act that said attorneys-in-fact and agents may lawfully do or cause to be done by virtue thereof.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 61pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 25pt; margin: 0pt 0">&#9;Pursuant to the requirements of the Securities
Act, this Registration Statement has been signed by the following persons in the capacities indicated below on October 27, 2016.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0.5in 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 0.5in"></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; text-align: center; width: 48%; border-bottom: Black 1.1pt solid">Signature</TD>
    <TD STYLE="font-weight: bold; text-align: center; width: 4%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center; width: 48%; border-bottom: Black 1.1pt solid">Title</TD></TR>
<TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: center; border-bottom: Black 1.1pt solid">/s/ Patrick S. Baird&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">Chair of the Board of Directors</TD></TR>
<TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; text-align: center">Patrick S. Baird</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: center; border-bottom: Black 1.1pt solid">/s/ Marie Z. Ziegler&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">Vice Chair of the Board of Directors</TD></TR>
<TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; text-align: center">Marie Z. Ziegler</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: center; border-bottom: Black 1.1pt solid">/s/ Douglas M. Hultquist&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">President, Chief Executive Officer and Director (Principal Executive Officer)</TD></TR>
<TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; text-align: center">Douglas M. Hultquist</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: center; border-bottom: Black 1.1pt solid">/s/ Todd A. Gipple&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">Executive Vice President, Chief Operating Officer, </TD></TR>
<TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; text-align: center">Todd A. Gipple</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">Chief Financial Officer and Director</TD></TR>
<TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">(Principal Financial Officer)</TD></TR>
<TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: center; border-bottom: Black 1.1pt solid">/s/ Elizabeth A. Grabin&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">Vice President, Controller &amp; Director of Financial Reporting</TD></TR>
<TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; text-align: center">Elizabeth A. Grabin</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">(Principal Accounting Officer)</TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

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<TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.1pt solid; width: 48%">Signature</TD>
    <TD STYLE="font-weight: bold; text-align: center; width: 4%">&nbsp;</TD>
    <TD STYLE="text-align: center; border-bottom: Black 1.1pt solid; width: 48%"><B>Title</B></TD></TR>
<TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: center; border-bottom: Black 1.1pt solid">/s/ John-Paul E. Besong&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">Director</TD></TR>
<TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; text-align: center">John-Paul E. Besong</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: center; border-bottom: Black 1.1pt solid">/s/ James J. Brownson</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">Director</TD></TR>
<TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; text-align: center">James J. Brownson&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: center; border-bottom: Black 1.1pt solid">/s/ Larry J. Helling</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">Director</TD></TR>
<TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; text-align: center">Larry J. Helling</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: center; border-bottom: Black 1.1pt solid">/s/ Mark C. Kilmer&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">Director</TD></TR>
<TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; text-align: center">Mark C. Kilmer</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: center; border-bottom: Black 1.1pt solid">/s/ Linda K. Neuman&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">Director</TD></TR>
<TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; text-align: center">Linda K. Neuman</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: center; border-bottom: Black 1.1pt solid">/s/ Michael L. Peterson&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">Director</TD></TR>
<TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; text-align: center">Michael L. Peterson</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: center; border-bottom: Black 1.1pt solid">/s/ Ronald G. Peterson&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">Director</TD></TR>
<TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; text-align: center">Ronald G. Peterson</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: center; border-bottom: Black 1.1pt solid">/s/ George T. Ralph III&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">Director</TD></TR>
<TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; text-align: center">George T. Ralph III</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: center; border-bottom: Black 1.1pt solid">/s/ Donna J. Sorensen&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">Director</TD></TR>
<TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; text-align: center">Donna J. Sorensen</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
</TABLE>


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<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>EXHIBIT INDEX</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0.5in 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"></P>

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<TR>
    <TD STYLE="vertical-align: middle; text-align: center; width: 6%">Exhibit</TD>
    <TD STYLE="vertical-align: middle; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 93%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: middle">
    <TD STYLE="text-decoration: underline; text-align: center">Number</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-decoration: underline">Description</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: center">4.1</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">Certificate of Incorporation of QCR Holdings, Inc. and amendments thereto (incorporated by reference to Exhibit 3.1 of the Company&rsquo;s Amended Quarterly Report on Form 10-Q/A for the quarter ended September 30, 2011).</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: center">4.2</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">Bylaws of QCR Holdings, Inc., as amended and restated (incorporated by reference to Exhibit 3.1 of the Company&rsquo;s Current Report on Form 8-K filed November 20, 2015).</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: center">4.3</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">Specimen of stock certificate representing QCR Holdings, Inc. common stock (incorporated by reference to Exhibit 4.1 of the Company&rsquo;s Registration Statement on Form&nbsp;SB-2 filed August 3, 1993 (Registration No. 33-67028)).</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: center">4.4</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">QCR Holdings, Inc. 2016 Equity Incentive Plan (incorporated by reference to Appendix A to the Registrant&rsquo;s Definitive Proxy Statement on Schedule 14A filed April 1, 2016).</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: center">4.5*</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">Form of QCR Holdings, Inc. 2016 Equity Incentive Plan Nonqualified Stock Option Award Agreement.</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: center">4.6*</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">Form of QCR Holdings, Inc. 2016 Equity Incentive Plan Restricted Stock Award Agreement.</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: center">4.7*</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">Form of QCR Holdings, Inc. 2016 Equity Incentive Plan Restricted Stock Unit Award Agreement.</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: center">5.1*</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">Opinion regarding legality of shares of QCR Holdings, Inc. common stock of Barack Ferrazzano Kirschbaum &amp; Nagelberg LLP.</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: center">23.1*</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">Consent of Barack Ferrazzano Kirschbaum &amp; Nagelberg LLP (included in Exhibit 5.1).</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: center">23.2*</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">Consent of RSM US LLP.</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: center">24.1*</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">Power of Attorney (included in the signature page hereto).</TD></TR>
<TR>
    <TD STYLE="vertical-align: middle; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: justify">*</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Filed herewith.</TD></TR>
</TABLE>


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<DOCUMENT>
<TYPE>EX-4.5
<SEQUENCE>2
<FILENAME>exh_45.htm
<DESCRIPTION>EXHIBIT 4.5
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0; text-align: right"><B>Exhibit 4.5</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: center; margin: 0pt 0"><FONT STYLE="text-transform: uppercase">QCR Holdings,
Inc.</FONT></P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><FONT STYLE="text-transform: uppercase"><B><U>2016 Equity Incentive
Plan</U></B></FONT></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><FONT STYLE="text-transform: uppercase"><B><U>Nonqualified Stock
Option Award Agreement</U></B></FONT></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">The Participant specified below is hereby granted
a nonqualified stock option (the &ldquo;<B>Option</B>&rdquo;) by <FONT STYLE="font-variant: small-caps"><B>QCR Holdings, Inc.</B></FONT><FONT STYLE="text-transform: uppercase">,
</FONT>a Delaware corporation (the &ldquo;<B>Company</B>&rdquo;), under the <FONT STYLE="font-variant: small-caps"><B>QCR Holdings,
Inc.</B></FONT><B> <FONT STYLE="text-transform: uppercase">2016 </FONT><FONT STYLE="font-variant: small-caps">Equity Incentive
Plan</FONT></B> (the &ldquo;<B>Plan</B>&rdquo;). The Option shall be subject to the terms of the Plan and the terms set forth in
this Nonqualified Stock Option Award Agreement (&ldquo;<B>Award Agreement</B>&rdquo;).</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Award</U>.</B> The Company hereby grants to the Participant the Option, which represents the right of the Participant to purchase
the number of Covered Shares at the Exercise Price set forth in <B>Section 2</B> below, subject to the terms of this Award Agreement
and the Plan.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Terms of Option Award</U>.</B> The following words and phrases relating to the Option shall have the following meanings:</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The &ldquo;<B>Participant</B>&rdquo; is <B>______________________________</B>.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The &ldquo;<B>Grant Date</B>&rdquo; is <B>______________________________</B>.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The number of &ldquo;<B>Covered Shares</B>&rdquo; is <B>____________________</B> Shares.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 1in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The &ldquo;<B>Exercise Price</B>&rdquo; is $<B>____________________</B>&nbsp;per Covered Share.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">Except for words and phrases otherwise defined
in this Award Agreement, any capitalized word or phrase in this Award Agreement shall have the meaning ascribed to it in the Plan.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Nonqualified Stock Option</U>.</B> The Option is not intended to satisfy the requirements applicable to an &ldquo;incentive
stock option&rdquo; described in Code Section 422(b).</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Vesting</U>.</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Each installment of Covered Shares set forth in the table immediately below (each, an &ldquo;<B>Installment</B>&rdquo;) shall become
vested and exercisable on the &ldquo;<B>Vesting Date</B>&rdquo; for such Installment set forth in the table immediately below;
<I>provided</I> that the Participant&rsquo;s Termination of Service has not occurred prior thereto:</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="3" STYLE="font-size: 10pt; width: 100%; border-collapse: collapse">
<TR STYLE="background-color: silver">
    <TD NOWRAP STYLE="width: 50%; border: black 1pt solid; text-align: center; font-size: 10pt"><FONT STYLE="font-size: 10pt; font-variant: small-caps"><B>Installment</B></FONT></TD>
    <TD NOWRAP STYLE="width: 50%; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center; font-size: 10pt"><FONT STYLE="font-size: 10pt; font-variant: small-caps"><B>Vesting Date applicable to Installment</B></FONT></TD></TR>
<TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center; font-size: 10pt"><FONT STYLE="font-size: 10pt">___% of Covered Shares</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center; font-size: 10pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Notwithstanding the foregoing provisions of this <B>Section 4</B>, all the Covered Shares shall become fully vested and immediately
exercisable upon the Participant&rsquo;s Termination of Service due to the Participant&rsquo;s Disability or the Participant&rsquo;s
death.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Upon a Change in Control, the Option shall be treated in accordance with Section&nbsp;4.1 of the Plan.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

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<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 1in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Option shall not be exercisable on or after the Participant&rsquo;s Termination of Service, except as to that portion of Covered
Shares for which it was exercisable immediately prior to such Termination of Service or became exercisable on the date of such
Termination of Service.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Expiration</U>.</B> Notwithstanding any term of this Award Agreement to the contrary, the Participant shall forfeit the Option
in its entirety as of the Company&rsquo;s close of business on the last business day that occurs prior to the Expiration Date.
The &ldquo;<B>Expiration Date</B>&rdquo; shall be the earliest to occur of the following:</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
the three-month anniversary of the Participant&rsquo;s Termination of Service other than due to the Participant&rsquo;s Disability
or death; <I>provided</I>, <I>however</I>, that if the Participant shall die after the date of Termination of Service but before
the three-month anniversary of the Participant&rsquo;s Termination of Service, the Expiration Date shall automatically be extended
to the one-year anniversary of Participant&rsquo;s Termination of Service;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
the one-year anniversary of the Participant&rsquo;s Termination of Service due to the Participant&rsquo;s Disability or death;
or</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
the 10-year anniversary of the Grant Date.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Exercise</U>.</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>Method of Exercise</I>. The vested portion of the Option may be exercised by the Participant in whole or in part by providing
notice of option exercise to the Corporate Secretary of the Company at its corporate headquarters, in a form prescribed by the
Committee or satisfying such other procedures as shall be set forth by the Committee from time to time. Such notice shall specify
the number of Covered Shares that the Participant elects to purchase, and shall be accompanied by payment of the Exercise Price
for such Covered Shares as further set forth in <B>Section 6(b)</B> below.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>Payment of Exercise Price</I>. Without limitation of <B>Section 8</B> below, the payment of the Exercise Price shall be by cash
or, subject to limitations imposed by applicable law, by any of the following means as determined by the Committee from time to
time: (i) by tendering, either actually or by attestation, Shares acceptable to the Committee and valued at Fair Market Value as
of the time of exercise; (ii) by irrevocably authorizing a third party, acceptable to the Committee, to sell Shares acquired upon
exercise of the Option and to remit to the Company no later than the third business day following exercise a sufficient portion
of the sale proceeds to pay the entire Exercise Price and any tax withholding resulting from such exercise; (iii) payment through
a net exercise such that, without the payment of any funds, the Participant may exercise the Option and receive the net number
of Shares equal in value to (A) the number of Shares as to which the Option is being exercised, multiplied by (B) a fraction, the
numerator of which is the Fair Market Value (on such date as is determined by the Committee) less the Exercise Price, and the denominator
of which is such Fair Market Value (the number of net Shares to be received shall be rounded down to the nearest whole number of
Shares); (iv) by personal, certified or cashiers&rsquo; check; (v)&nbsp;by other property deemed acceptable by the Committee or
(vi) by any combination thereof.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>Restrictions</I>. The Option shall not be exercisable if and to the extent the Company determines that such exercise would violate
any applicable laws or the applicable rules of any securities exchange or similar entity, and shall not be exercisable during any
blackout period established by the Company from time to time.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

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<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Delivery of Shares</U>.</B> Delivery of Shares or other amounts under this Award Agreement and the Plan shall be subject to
the following:</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>Compliance with Applicable Laws. </I>Notwithstanding any other term of this Award Agreement or the Plan, the Company shall have
no obligation to deliver any Shares or make any other distribution of benefits under this Award Agreement or the Plan unless such
delivery or distribution complies with all applicable laws and the applicable rules of any securities exchange or similar entity.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>Certificates Not Required. </I>To the extent that this Award Agreement and the Plan provide for the issuance of Shares, such
issuance may be effected on a non-certificated basis, to the extent not prohibited by applicable law or the applicable rules of
any securities exchange or similar entity.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Withholding</U>.</B> The exercise of the Option, and the Company&rsquo;s obligation to issue Shares upon exercise, is subject
to withholding of all applicable taxes. As permitted by the Committee from time to time, such withholding obligations may be satisfied
at the election of the Participant (a)&nbsp;through cash payment by the Participant, (b)&nbsp;through the surrender of Shares that
the Participant already owns or (c)&nbsp;through the surrender of Shares to which the Participant is otherwise entitled under the
Plan; <I>provided</I>, <I>however</I>, that except as otherwise specifically provided by the Committee, such Shares under clause
(c) may not be used to satisfy more than the Company&rsquo;s minimum statutory withholding obligation.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Non-Transferability of Option</U>.</B> The Option, or any portion thereof, is not transferable except as designated by the Participant
by will or by the laws of descent and distribution or pursuant to a domestic relations order. Except as provided in the immediately
preceding sentence, the Option shall not be assigned, transferred, pledged, hypothecated or otherwise disposed of by the Participant
in any way whether by operation of law or otherwise, and shall not be subject to execution, attachment or similar process. Any
attempt at assignment, transfer, pledge, hypothecation or other disposition of the Option contrary to the provisions hereof, or
the levy of any attachment or similar process upon the Option, shall be null and void and without effect.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 10.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Heirs and Successors</U>.</B> This Award Agreement shall be binding upon, and inure to the benefit of, the Company and its successors
and assigns, and upon any person acquiring all or substantially all of the Company&rsquo;s assets or business. If any rights of
the Participant or benefits distributable to the Participant under this Award Agreement have not been settled or distributed at
the time of the Participant&rsquo;s death, such rights shall be settled for and such benefits shall be distributed to the Designated
Beneficiary in accordance with the provisions of this Award Agreement and the Plan. The &ldquo;<B>Designated Beneficiary</B>&rdquo;
shall be the beneficiary or beneficiaries designated by the Participant in a writing filed with the Committee in such form as the
Committee may require. The Participant&rsquo;s designation of beneficiary may be amended or revoked from time to time by the Participant
in accordance with any procedures established by the Committee. If a Participant fails to designate a beneficiary, or if the Designated
Beneficiary does not survive the Participant, any benefits that would have been provided to the Participant shall be provided to
the legal representative of the estate of the Participant. If a Participant designates a beneficiary and the Designated Beneficiary
survives the Participant but dies before the provision of the Designated Beneficiary&rsquo;s benefits under this Award Agreement,
then any benefits that would have been provided to the Designated Beneficiary shall be provided to the legal representative of
the estate of the Designated Beneficiary.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 11.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Administration</U>.</B> The authority to manage and control the operation and administration of this Award Agreement and the
Plan shall be vested in the Committee, and the Committee shall have all powers with respect to this Award Agreement as it has with
respect to the Plan. Any interpretation of this Award Agreement or the Plan by the Committee and any decision made by the Committee
with respect to this Award Agreement or the Plan shall be final and binding on all persons.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

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<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 12.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Plan Governs</U>.</B> Notwithstanding anything in this Award Agreement to the contrary, this Award Agreement shall be subject
to the terms of the Plan, a copy of which may be obtained by the Participant from the office of the Corporate Secretary of the
Company. This Award Agreement shall be subject to all interpretations, amendments, rules and regulations promulgated by the Committee
from time to time. Notwithstanding any term of this Award Agreement to the contrary, in the event of any discrepancy between the
corporate records of the Company and this Award Agreement, the corporate records of the Company shall control.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 13.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Not an Employment Contract</U>.</B> Neither the Option nor this Award Agreement shall confer on the Participant any rights with
respect to continuance of employment or other service with the Company or a Subsidiary, nor shall they interfere in any way with
any right the Company or a Subsidiary may otherwise have to terminate or modify the terms of the Participant&rsquo;s employment
or other service at any time.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 14.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>No Rights as Shareholder</U>.</B> The Participant shall not have any rights of a Shareholder with respect to the Covered Shares
until a stock certificate or its equivalent has been duly issued following exercise of the Option as provided herein.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 15.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Amendment</U>.</B> Without limitation of <B>Section 18</B> and <B>Section 19</B> below, this Award Agreement may be amended
in accordance with the provisions of the Plan, and may otherwise be amended in writing by the Participant and the Company without
the consent of any other person.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 16.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Governing Law</U>.</B> This Award Agreement, the Plan and all actions taken in connection herewith and therewith shall be governed
by and construed in accordance with the laws of the State of Delaware without reference to principles of conflict of laws, except
as superseded by applicable federal law.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 17.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Validity</U>.</B> If any provision of this Award Agreement is determined to be illegal or invalid for any reason, said illegality
or invalidity shall not affect the remaining parts hereof, but this Award Agreement shall be construed and enforced as if such
illegal or invalid provision had never been included herein.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 18.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Section 409A Amendment</U>.</B> The Option is intended to be exempt from Code Section 409A and this Award Agreement shall be
administered and interpreted in accordance with such intent. The Committee reserves the right (including the right to delegate
such right) to unilaterally amend this Award Agreement without the consent of the Participant in order to maintain an exclusion
from the application of, or to maintain compliance with, Code Section 409A; and the Participant hereby acknowledges and consents
to such rights of the Committee.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 19.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Clawback</U>.</B> The Option and any amount or benefit received under the Plan shall be subject to potential cancellation, recoupment,
rescission, payback or other action in accordance with the terms of any applicable Company or Subsidiary clawback policy (the &ldquo;<B>Policy</B>&rdquo;)
or any applicable law, as may be in effect from time to time. The Participant hereby acknowledges and consents to the Company&rsquo;s
or a Subsidiary&rsquo;s application, implementation and enforcement of (a) the Policy and any similar policy established by the
Company or a Subsidiary that may apply to the Participant together with all other similarly situated participants, whether adopted
prior to or following the date of this Award Agreement and (b) any provision of applicable law relating to cancellation, rescission,
payback or recoupment of compensation, and agrees that the Company or a Subsidiary may take such actions as may be necessary to
effectuate the Policy, any similar policy and applicable law without further consideration or action.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt">*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0; text-indent: 2in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0; text-indent: 2in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0; text-indent: 2in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0; text-indent: 2in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0; text-indent: 2in"></P>

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<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-variant: small-caps"><B>In
witness whereof</B></FONT>, the Company has caused this Award Agreement to be executed in its name and on its behalf, and the Participant
acknowledges understanding and acceptance of, and agrees to, the terms of this Award Agreement, all as of the Grant Date.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; vertical-align: middle; text-align: left"><FONT STYLE="font-variant: small-caps">QCR Holdings, Inc.</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; width: 50%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: justify; width: 6%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 29%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 15%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: justify">By:&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1.1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: middle; text-align: justify">Print Name:</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1.1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: justify">Title:&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1.1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; vertical-align: middle; text-align: left"><FONT STYLE="font-variant: small-caps">Participant</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: justify; border-bottom: Black 1.1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1.1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: middle; text-align: justify">Print Name:</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1.1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
</TABLE>


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<TYPE>EX-4.6
<SEQUENCE>3
<FILENAME>exh_46.htm
<DESCRIPTION>EXHIBIT 4.6
<TEXT>
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<HEAD>
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<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0; text-align: right"><B>Exhibit 4.6</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: center; margin: 0pt 0"><FONT STYLE="text-transform: uppercase">QCR Holdings,
Inc.</FONT></P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><FONT STYLE="text-transform: uppercase"><B><U>2016 Equity Incentive
Plan</U></B></FONT></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><FONT STYLE="text-transform: uppercase"><B><U>Restricted Stock Award
Agreement</U></B></FONT></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 34.2pt; margin: 0pt 0">The Participant specified below is hereby granted
a restricted stock award (the &ldquo;<B>Award</B>&rdquo;) by <FONT STYLE="font-variant: small-caps"><B>QCR Holdings, Inc.</B></FONT><FONT STYLE="text-transform: uppercase">,
</FONT>a Delaware corporation (the &ldquo;<B>Company</B>&rdquo;), under the <FONT STYLE="font-variant: small-caps"><B>QCR Holdings,
Inc.</B></FONT><B> <FONT STYLE="text-transform: uppercase">2016 </FONT><FONT STYLE="font-variant: small-caps">Equity Incentive
Plan</FONT></B> (the &ldquo;<B>Plan</B>&rdquo;). The Award shall be subject to the terms of the Plan and the terms set forth in
this Restricted Stock Award Agreement (&ldquo;<B>Award Agreement</B>&rdquo;).</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 34.2pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Award</U>.</B> The Company hereby grants to the Participant the Award of restricted stock, which represents the right of the
Participant to enjoy the number of Covered Shares set forth in <B>Section 2 </B>below free of restrictions once the Restricted
Period ends, subject to the terms of this Award Agreement and the Plan.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Terms of Restricted Stock Award</U>.</B> The following words and phrases relating to the Award shall have the following meanings:</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The &ldquo;<B>Participant</B>&rdquo; is <B>______________________________</B>.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The &ldquo;<B>Grant Date</B>&rdquo; is <B>______________________________</B>.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The number of &ldquo;<B>Covered Shares</B>&rdquo; is <B>______________________</B> Shares.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">Except for words and phrases otherwise defined
in this Award Agreement, any capitalized word or phrase in this Award Agreement shall have the meaning ascribed to it in the Plan.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Restricted Period</U>.</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The &ldquo;<B>Restricted Period</B>&rdquo; for each installment of Covered Shares set forth in the table immediately below (each,
an &ldquo;<B>Installment</B>&rdquo;) shall begin on the Grant Date and end as described in the schedule set forth in the table
immediately below; <I>provided</I> that the Participant&rsquo;s Termination of Service has not occurred prior thereto:</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="2" STYLE="font-size: 10pt; width: 100%; border-collapse: collapse">
<TR STYLE="background-color: silver">
    <TD NOWRAP STYLE="width: 50%; border: black 1pt solid; text-align: center; font-size: 10pt"><FONT STYLE="font-size: 10pt; font-variant: small-caps"><B>Installment</B></FONT></TD>
    <TD NOWRAP STYLE="width: 50%; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center; font-size: 10pt"><FONT STYLE="font-size: 10pt; font-variant: small-caps"><B>Restricted Period will end on:</B></FONT></TD></TR>
<TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center; font-size: 10pt"><FONT STYLE="font-size: 10pt">___% of Covered Shares</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center; font-size: 10pt"><FONT STYLE="font-size: 10pt">Date/Event/Other Condition</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Notwithstanding the foregoing provisions of this <B>Section 3</B>, the Restricted Period for all the Covered Shares shall cease
immediately and such Covered Shares shall become fully vested immediately upon the Participant&rsquo;s Termination of Service due
to the Participant&rsquo;s Disability or the Participant&rsquo;s death.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Upon a Change in Control, the Award shall be treated in accordance with Section&nbsp;4.1 of the Plan.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 1in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Except as set forth in <B>Section 3(b)</B> and <B>Section 3(c)</B> above, if the Participant&rsquo;s Termination of Service occurs
prior to the expiration of one or more Restricted Periods, the Participant shall forfeit all rights, title and interest in and
to any Installment(s) still subject to a Restricted Period as of such Termination of Service.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

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<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Delivery of Shares</U>.</B> Delivery of Shares or other amounts under this Award Agreement and the Plan shall be subject to
the following:</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>Compliance with Applicable Laws. </I>Notwithstanding any other provision of this Award Agreement or the Plan, the Company shall
have no obligation to deliver any Shares or make any other distribution of benefits under this Award Agreement or the Plan unless
such delivery or distribution complies with all applicable laws and the applicable rules of any securities exchange or similar
entity.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>Certificates Not Required. </I>To the extent that this Award Agreement and the Plan provide for the issuance of Shares, such
issuance may be effected on a non-certificated basis, to the extent not prohibited by applicable law or the applicable rules of
any securities exchange or similar entity.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Withholding</U>.</B> All deliveries of Covered Shares shall be subject to withholding of all applicable taxes. The Company shall
have the right to require the Participant (or if applicable, permitted assigns, heirs and Designated Beneficiaries) to remit to
the Company an amount sufficient to satisfy any tax requirements prior to the delivery date of any Shares in connection with the
Award. As permitted by the Committee from time to time, such withholding obligation may be satisfied at the election of the Participant
(a)&nbsp;through cash payment by the Participant, (b)&nbsp;through the surrender of Shares that the Participant already owns or
(c)&nbsp;through the surrender of Shares to which the Participant is otherwise entitled under the Plan; <I>provided</I>, <I>however</I>,
that except as otherwise specifically provided by the Committee, such Shares under clause (c) may not be used to satisfy more than
the Company&rsquo;s minimum statutory withholding obligation.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Non-Transferability of Award</U>.</B> The Award, or any portion thereof, is not transferable except as designated by the Participant
by will or by the laws of descent and distribution or pursuant to a domestic relations order. Except as provided in the immediately
preceding sentence, the Award shall not be assigned, transferred, pledged, hypothecated or otherwise disposed of by the Participant
in any way whether by operation of law or otherwise, and shall not be subject to execution, attachment or similar process. Any
attempt at assignment, transfer, pledge, hypothecation or other disposition of the Award contrary to the provisions hereof, or
the levy of any attachment or similar process upon the Award, shall be null and void and without effect.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Dividends</U>.</B> The Participant shall be entitled to receive dividends and distributions paid on any Installment during the
Restricted Period applicable to such Installment (other than dividends and distributions that may be issued with respect to Shares
by virtue of any corporate transaction, to the extent adjustment is made pursuant to Section 3.4 of the Plan); <I>provided, however</I>,
that no dividends or distributions shall be payable to or for the benefit of the Participant with respect to record dates for such
dividends or distributions occurring before the Grant Date or on or after the date, if any, on which the Participant has forfeited
the respective Covered Shares.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Voting Rights</U>.</B> The Participant shall be entitled to vote the Covered Shares during the Restricted Period applicable
to each Installment; <I>provided, however</I>, that the Participant shall not be entitled to vote Covered Shares with respect to
record dates occurring before the Grant Date or on or after the date, if any, on which the Participant has forfeited those Covered
Shares.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Deposit of Restricted Stock Award</U>.</B> All Shares issued with respect to Covered Shares shall be registered in the name
of the Participant and shall be retained by the Company, or an agent of the Company, until the end of the Restricted Period applicable
to such Covered Shares.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 10.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Heirs and Successors</U>.</B>&nbsp;This Award Agreement shall be binding upon, and inure to the benefit of, the Company and
its successors and assigns, and upon any person acquiring all or substantially all of the Company&rsquo;s assets or business. If
any rights of the Participant or benefits distributable to the Participant under this Award Agreement have not been settled or
distributed at the time of the Participant&rsquo;s death, such rights shall be settled for and such benefits shall be distributed
to the Designated Beneficiary in accordance with the provisions of this Award Agreement and the Plan. The &ldquo;<B>Designated
Beneficiary</B>&rdquo; shall be the beneficiary or beneficiaries designated by the Participant in a writing filed with the Committee
in such form as the Committee may require. The Participant&rsquo;s designation of beneficiary may be amended or revoked from time
to time by the Participant in accordance with any procedures established by the Committee. If a Participant fails to designate
a beneficiary, or if the Designated Beneficiary does not survive the Participant, any benefits that would have been provided to
the Participant shall be provided to the legal representative of the estate of the Participant. If a Participant designates a beneficiary
and the Designated Beneficiary survives the Participant but dies before the provision of the Designated Beneficiary&rsquo;s benefits
under this Award Agreement, then any benefits that would have been provided to the Designated Beneficiary shall be provided to
the legal representative of the estate of the Designated Beneficiary.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

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<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 11.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Administration</U>.</B>&nbsp;The authority to manage and control the operation and administration of this Award Agreement and
the Plan shall be vested in the Committee, and the Committee shall have all powers with respect to this Award Agreement as it has
with respect to the Plan. Any interpretation of this Award Agreement or the Plan by the Committee and any decision made by the
Committee with respect to this Award Agreement or the Plan shall be final and binding on all persons.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 12.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Plan Governs</U>.</B> Notwithstanding any provision of this Award Agreement to the contrary, this Award Agreement shall be subject
to the terms of the Plan, a copy of which may be obtained by the Participant from the office of the secretary of the Company. This
Award Agreement shall be subject to all interpretations, amendments, rules and regulations promulgated by the Committee from time
to time. Notwithstanding any provision of this Award Agreement to the contrary, in the event of any discrepancy between the corporate
records of the Company and this Award Agreement, the corporate records of the Company shall control.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 13.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Not an Employment Contract</U>.</B> Neither the Award nor this Award Agreement shall confer on the Participant any rights with
respect to continuance of employment or other service with the Company or a Subsidiary, nor shall they interfere in any way with
any right the Company or a Subsidiary may otherwise have to terminate or modify the terms of the Participant&rsquo;s employment
or other service at any time.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 14.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Amendment</U>.</B>&nbsp;Without limitation of <B>Section 17</B> and <B>Section 18</B> below, this Award Agreement may be amended
in accordance with the provisions of the Plan, and may otherwise be amended in writing by the Participant and the Company without
the consent of any other person.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 15.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Governing Law</U>.</B> This Award Agreement, the Plan and all actions taken in connection herewith and therewith shall be governed
by and construed in accordance with the laws of the State of Delaware, without reference to principles of conflict of laws, except
as superseded by applicable federal law.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 16.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Validity</U>.</B> If any provision of this Award Agreement is determined to be illegal or invalid for any reason, said illegality
or invalidity shall not affect the remaining parts hereof, but this Award Agreement shall be construed and enforced as if such
illegal or invalid provision had never been included herein.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 17.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Section 409A Amendment</U>.</B> The Award is intended to be exempt from Code Section 409A and this Award Agreement shall be
administered and interpreted in accordance with such intent. The Committee reserves the right (including the right to delegate
such right) to unilaterally amend this Award Agreement without the consent of the Participant in order to maintain an exclusion
from the application of, or to maintain compliance with, Code Section 409A; and the Participant hereby acknowledges and consents
to such rights of the Committee.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

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<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 18.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Clawback</U>.</B> The Award and any amount or benefit received under the Plan shall be subject to potential cancellation, recoupment,
rescission, payback or other action in accordance with the terms of any applicable Company or Subsidiary clawback policy (the &ldquo;<B>Policy</B>&rdquo;)
or any applicable law, as may be in effect from time to time. The Participant hereby acknowledges and consents to the Company&rsquo;s
or a Subsidiary&rsquo;s application, implementation and enforcement of (a) the Policy and any similar policy established by the
Company or a Subsidiary that may apply to the Participant together with all other similarly situated participants, whether adopted
prior to or following the date of this Award Agreement and (b) any provision of applicable law relating to cancellation, rescission,
payback or recoupment of compensation, and agrees that the Company or a Subsidiary may take such actions as may be necessary to
effectuate the Policy, any similar policy and applicable law, without further consideration or action.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; text-align: center">*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: center; text-indent: 2in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: center; text-indent: 2in">&nbsp;</P>

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<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><FONT STYLE="font-variant: small-caps"><B>In
witness whereof</B></FONT>, the Company has caused this Award Agreement to be executed in its name and on its behalf, and the Participant
acknowledges understanding and acceptance of, and agrees to, the terms of this Award Agreement, all as of the Grant Date.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

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    <TD COLSPAN="2" STYLE="font-weight: bold; vertical-align: middle; text-align: left"><FONT STYLE="font-variant: small-caps">QCR Holdings, Inc.</FONT></TD>
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    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; vertical-align: middle; text-align: left"><FONT STYLE="font-variant: small-caps">Participant</FONT></TD>
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    <TD NOWRAP STYLE="vertical-align: middle; text-align: justify">Print Name:</TD>
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<TYPE>EX-4.7
<SEQUENCE>4
<FILENAME>exh_47.htm
<DESCRIPTION>EXHIBIT 4.7
<TEXT>
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<P STYLE="margin: 0; text-align: right"><B>Exhibit 4.7</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: center; margin: 0pt 0"><FONT STYLE="text-transform: uppercase">QCR Holdings,
Inc.</FONT></P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><FONT STYLE="text-transform: uppercase"><B><U>2016 Equity Incentive
Plan</U></B></FONT></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><FONT STYLE="text-transform: uppercase"><B><U>Restricted Stock Unit
Award Agreement</U></B></FONT></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 34.2pt; margin: 0pt 0">The Participant specified below is hereby granted
a restricted stock unit award (the &ldquo;<B>Award</B>&rdquo;) by <FONT STYLE="font-variant: small-caps"><B>QCR Holdings, Inc.</B></FONT><FONT STYLE="text-transform: uppercase">,
</FONT>a Delaware corporation (the &ldquo;<B>Company</B>&rdquo;), under the <FONT STYLE="font-variant: small-caps"><B>QCR Holdings,
Inc.</B></FONT><B> <FONT STYLE="text-transform: uppercase">2016 </FONT><FONT STYLE="font-variant: small-caps">Equity Incentive
Plan</FONT></B> (the &ldquo;<B>Plan</B>&rdquo;). The Award shall be subject to the terms of the Plan and the terms set forth in
this Restricted Stock Unit Award Agreement (&ldquo;<B>Award Agreement</B>&rdquo;).</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 34.2pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Award</U>.</B> The Company hereby grants to the Participant the Award of restricted stock units (each such unit, an &ldquo;<B>RSU</B>&rdquo;),
where each RSU represents the right of the Participant to receive one Share in the future once the Restricted Period ends, subject
to the terms of this Award Agreement and the Plan.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Terms of Restricted Stock Unit Award</U>.</B> The following words and phrases relating to the Award shall have the following
meanings:</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The &ldquo;<B>Participant</B>&rdquo; is <B>______________________________</B>.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The &ldquo;<B>Grant Date</B>&rdquo; is <B>______________________________</B>.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The number of &ldquo;<B>RSUs</B>&rdquo; is <B>______________________</B> Shares.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">Except for words and phrases otherwise defined
in this Award Agreement, any capitalized word or phrase in this Award Agreement shall have the meaning ascribed to it in the Plan.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Restricted Period</U>.</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The &ldquo;<B>Restricted Period</B>&rdquo; for each installment of RSUs set forth in the table immediately below (each, an &ldquo;<B>Installment</B>&rdquo;)
shall begin on the Grant Date and end as described in the schedule set forth in the table immediately below; <I>provided</I> that
the Participant&rsquo;s Termination of Service has not occurred prior thereto:</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="2" STYLE="font-size: 10pt; width: 100%; border-collapse: collapse">
<TR STYLE="background-color: silver">
    <TD NOWRAP STYLE="width: 50%; border: black 1pt solid; text-align: center; font-size: 10pt"><FONT STYLE="font-size: 10pt; font-variant: small-caps"><B>Installment</B></FONT></TD>
    <TD NOWRAP STYLE="width: 50%; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center; font-size: 10pt"><FONT STYLE="font-size: 10pt; font-variant: small-caps"><B>Restricted Period will end on:</B></FONT></TD></TR>
<TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center; font-size: 10pt"><FONT STYLE="font-size: 10pt">__% of RSUs</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center; font-size: 10pt"><FONT STYLE="font-size: 10pt">Date/Event/Other Condition</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Notwithstanding the foregoing provisions of this <B>Section 3</B>, the Restricted Period for all the RSUs shall cease immediately
and such RSUs shall become fully vested immediately upon the Participant&rsquo;s Termination of Service due to the Participant&rsquo;s
Disability or the Participant&rsquo;s death.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Upon a Change in Control, the Award shall be treated in accordance with Section&nbsp;4.1 of the Plan.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 1in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Except as set forth in <B>Section 3(b)</B> and <B>Section 3(c)</B> above, if the Participant&rsquo;s Termination of Service occurs
prior to the expiration of one or more Restricted Periods, the Participant shall forfeit all right, title and interest in and to
any Installment(s) still subject to a Restricted Period as of such Termination of Service.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

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<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Settlement of RSUs</U>.</B> Delivery of Shares or other amounts under this Award Agreement and the Plan shall be subject to
the following:</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>Delivery of Shares</I>. The Company shall deliver to the Participant one Share free and clear of any restrictions in settlement
of each of the vested and unrestricted RSUs within 30 days following the end of the respective Restricted Period.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>Compliance with Applicable Laws. </I>Notwithstanding any other term of this Award Agreement or the Plan, the Company shall have
no obligation to deliver any Shares or make any other distribution of benefits under this Award Agreement or the Plan unless such
delivery or distribution complies with all applicable laws and the applicable rules of any securities exchange or similar entity.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>Certificates Not Required. </I>To the extent that this Award Agreement and the Plan provide for the issuance of Shares, such
issuance may be effected on a non-certificated basis, to the extent not prohibited by applicable law or the applicable rules of
any securities exchange or similar entity.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Withholding</U>.</B> All deliveries of Shares pursuant to the Award shall be subject to withholding of all applicable taxes.
The Company shall have the right to require the Participant (or if applicable, permitted assigns, heirs and Designated Beneficiaries)
to remit to the Company an amount sufficient to satisfy any tax requirements prior to the delivery date of any Shares in connection
with the Award. As permitted by the Committee from time to time, such withholding obligation may be satisfied at the election of
the Participant (a)&nbsp;through cash payment by the Participant, (b)&nbsp;through the surrender of Shares that the Participant
already owns or (c)&nbsp;through the surrender of Shares to which the Participant is otherwise entitled under the Plan; <I>provided</I>,
<I>however</I>, that except as otherwise specifically provided by the Committee, such Shares under clause (c) may not be used to
satisfy more than the Company&rsquo;s minimum statutory withholding obligation.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Non-Transferability of Award</U>.</B> The Award, or any portion thereof, is not transferable except as designated by the Participant
by will or by the laws of descent and distribution or pursuant to a domestic relations order. Except as provided in the immediately
preceding sentence, the Award shall not be assigned, transferred, pledged, hypothecated or otherwise disposed of by the Participant
in any way whether by operation of law or otherwise, and shall not be subject to execution, attachment or similar process. Any
attempt at assignment, transfer, pledge, hypothecation or other disposition of the Award contrary to the provisions hereof, or
the levy of any attachment or similar process upon the Award, shall be null and void and without effect.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Dividend Equivalents</U>.</B> The Participant shall be entitled to receive a payment of additional RSUs equal in value to any
dividends and distributions paid with respect to the RSUs (other than dividends and distributions that may be issued with respect
to Shares by virtue of any corporate transaction, to the extent adjustment is made pursuant to Section 3.4 of the Plan) during
the Restricted Period (&ldquo;<B>Dividend Equivalents</B>&rdquo;); <I>provided</I>, <I>however</I>, that no Dividend Equivalents
shall be payable to or for the benefit of the Participant with respect to record dates for such dividends or distributions occurring
before the Grant Date or on or after the date, if any, on which the Participant has forfeited the RSUs. Dividend Equivalents shall
be provided at the time the respective dividends or distributions are paid and shall be subject to the same restrictions applicable
to the underlying RSUs.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>No Rights as Shareholder</U>.</B> The Participant shall not have any rights of a Shareholder with respect to the RSUs, including
but not limited to, voting rights, prior to the settlement of the RSUs pursuant to <B>Section 4(a)</B> above and issuance of Shares
as provided herein.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

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<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Heirs and Successors</U>.</B> This Award Agreement shall be binding upon, and inure to the benefit of, the Company and its successors
and assigns, and upon any person acquiring all or substantially all of the Company&rsquo;s assets or business. If any rights of
the Participant or benefits distributable to the Participant under this Award Agreement have not been settled or distributed at
the time of the Participant&rsquo;s death, such rights shall be settled for and such benefits shall be distributed to the Designated
Beneficiary in accordance with the provisions of this Award Agreement and the Plan. The &ldquo;<B>Designated Beneficiary</B>&rdquo;
shall be the beneficiary or beneficiaries designated by the Participant in a writing filed with the Committee in such form as the
Committee may require. The Participant&rsquo;s designation of beneficiary may be amended or revoked from time to time by the Participant
in accordance with any procedures established by the Committee. If a Participant fails to designate a beneficiary, or if the Designated
Beneficiary does not survive the Participant, any benefits that would have been provided to the Participant shall be provided to
the legal representative of the estate of the Participant. If a Participant designates a beneficiary and the Designated Beneficiary
survives the Participant but dies before the provision of the Designated Beneficiary&rsquo;s benefits under this Award Agreement,
then any benefits that would have been provided to the Designated Beneficiary shall be provided to the legal representative of
the estate of the Designated Beneficiary.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 10.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Administration</U>.</B> The authority to manage and control the operation and administration of this Award Agreement and the
Plan shall be vested in the Committee, and the Committee shall have all powers with respect to this Award Agreement as it has with
respect to the Plan. Any interpretation of this Award Agreement or the Plan by the Committee and any decision made by the Committee
with respect to this Award Agreement or the Plan shall be final and binding on all persons.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 11.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Plan Governs</U>.</B> Notwithstanding any provision of this Award Agreement to the contrary, this Award Agreement shall be subject
to the terms of the Plan, a copy of which may be obtained by the Participant from the office of the Corporate Secretary of the
Company. This Award Agreement shall be subject to all interpretations, amendments, rules and regulations promulgated by the Committee
from time to time. Notwithstanding any provision of this Award Agreement to the contrary, in the event of any discrepancy between
the corporate records of the Company and this Award Agreement, the corporate records of the Company shall control.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 12.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Not an Employment Contract</U>.</B> Neither the Award nor this Award Agreement shall confer on the Participant any rights with
respect to continuance of employment or other service with the Company or a Subsidiary, nor shall they interfere in any way with
any right the Company or a Subsidiary may otherwise have to terminate or modify the terms of the Participant&rsquo;s employment
or other service at any time.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 13.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Amendment</U>.</B> Without limitation of <B>Section 16</B> and <B>Section 17</B> below, this Award Agreement may be amended
in accordance with the provisions of the Plan, and may otherwise be amended in writing by the Participant and the Company without
the consent of any other person.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 14.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Governing Law</U>.</B> This Award Agreement, the Plan and all actions taken in connection herewith and therewith shall be governed
by and construed in accordance with the laws of the State of Delaware, without reference to principles of conflict of laws, except
as superseded by applicable federal law.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 15.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Validity</U>.</B> If any provision of this Award Agreement is determined to be illegal or invalid for any reason, said illegality
or invalidity shall not affect the remaining parts hereof, but this Award Agreement shall be construed and enforced as if such
illegal or invalid provision had never been included herein.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

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<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 16.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Section 409A Amendment</U>.</B> The Award is intended to be exempt from Code Section 409A and this Award Agreement shall be
administered and interpreted in accordance with such intent. The Committee reserves the right (including the right to delegate
such right) to unilaterally amend this Award Agreement without the consent of the Participant in order to maintain an exclusion
from the application of, or to maintain compliance with, Code Section 409A; and the Participant hereby acknowledges and consents
to such rights of the Committee.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 17.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Clawback</U>.</B> The Award and any amount or benefit received under the Plan shall be subject to potential cancellation, recoupment,
rescission, payback or other action in accordance with the terms of any applicable Company or Subsidiary clawback policy (the &ldquo;<B>Policy</B>&rdquo;)
or any applicable law, as may be in effect from time to time. The Participant hereby acknowledges and consents to the Company&rsquo;s
or a Subsidiary&rsquo;s application, implementation and enforcement of (a) the Policy and any similar policy established by the
Company or a Subsidiary that may apply to the Participant together with all other similarly situated participants, whether adopted
prior to or following the date of this Award Agreement and (b) any provision of applicable law relating to cancellation, rescission,
payback or recoupment of compensation, and agrees that the Company or a Subsidiary may take such actions as may be necessary to
effectuate the Policy, any similar policy and applicable law, without further consideration or action.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; text-align: center">*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: center; text-indent: 2in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: center; text-indent: 2in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: center; text-indent: 2in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: center; text-indent: 2in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: center; text-indent: 2in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: center; text-indent: 2in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: center; text-indent: 2in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: center; text-indent: 2in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: center; text-indent: 2in"></P>

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<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: center; text-indent: 2in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><FONT STYLE="font-variant: small-caps"><B>In
witness whereof</B></FONT>, the Company has caused this Award Agreement to be executed in its name and on its behalf, and the Participant
acknowledges understanding and acceptance of, and agrees to, the terms of this Award Agreement, all as of the Grant Date.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; vertical-align: middle; text-align: left"><FONT STYLE="font-variant: small-caps">QCR Holdings, Inc.</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; width: 50%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: justify; width: 6%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 29%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 15%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: justify">By:&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1.1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: middle; text-align: justify">Print Name:</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1.1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: justify">Title:&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1.1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; vertical-align: middle; text-align: left"><FONT STYLE="font-variant: small-caps">Participant</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: justify; border-bottom: Black 1.1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1.1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: middle; text-align: justify">Print Name:</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1.1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>



<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">5</P>

<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0"></P>

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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-5.1
<SEQUENCE>5
<FILENAME>exh_51.htm
<DESCRIPTION>EXHIBIT 5.1
<TEXT>
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<P STYLE="margin: 0; text-align: right"><B>Exhibit 5.1</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0 6pt"><FONT STYLE="font-size: 15; font-variant: small-caps">Barack
Ferrazzano Kirschbaum &amp; Nagelberg llp</FONT></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><FONT STYLE="font-size: 8pt">200 WEST MADISON STREET, SUITE 3900</FONT></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><FONT STYLE="font-size: 8pt">CHICAGO, ILLINOIS 60606</FONT></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><FONT STYLE="font-size: 8pt">Telephone (312) 984-3100</FONT></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><FONT STYLE="font-size: 8pt">Facsimile (312) 984-3150</FONT></P>



<P STYLE="margin: 0"></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">October 27, 2016</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">QCR Holdings, Inc.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">3551 Seventh Street</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">Moline, Illinois 61265</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><B>Re:</B></TD><TD STYLE="text-align: justify"><B><U>Registration Statement on Form S-8 of QCR Holdings, Inc.</U></B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">Ladies and Gentlemen:</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">We have acted as special counsel to QCR Holdings,
Inc., a Delaware corporation (the&nbsp;&ldquo;<I>Company</I>&rdquo;), in connection with the registration under the Securities
Act of 1933, as amended (the &ldquo;<I>Act</I>&rdquo;), of 400,000 shares (the &ldquo;<I>Shares</I>&rdquo;) of common stock, $1.00
par value per share, of the Company (the &ldquo;<I>Common Stock</I>&rdquo;), authorized for issuance pursuant to the QCR Holdings,
Inc. 2016 Equity Incentive Plan (the&nbsp;&ldquo;<I>Plan</I>&rdquo;), as set forth in the Registration Statement on Form S-8 being
filed with the Securities and Exchange Commission (the &ldquo;<I>Commission</I>&rdquo;) on October 27, 2016 (together with all
exhibits thereto, the&nbsp;&ldquo;<I>Registration Statement</I>&rdquo;). This opinion is being furnished in accordance with the
requirements of Item&nbsp;601(b)(5) of Regulation S-K under the Act.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">We have made such legal and factual
investigations as we deemed necessary for purposes of this opinion. We have examined originals or copies, certified or
otherwise identified to our satisfaction, of: (a)&nbsp;the Registration Statement; (b)&nbsp;the Company&rsquo;s Certificate
of Incorporation, as amended and currently in effect; (c)&nbsp;the Company&rsquo;s Bylaws, as amended and currently in
effect; (d)&nbsp;the resolutions of the board of directors of the Company, dated February 11, 2016, with respect to the filing
of the Registration Statement and related matters; (e) the Plan; and (f)&nbsp;such other certificates, statutes and other
instruments and documents as were considered appropriate for purposes of the opinions hereafter expressed. In our
investigation, we have assumed the genuineness of all signatures, the proper execution of all documents submitted to us as
originals, the conformity to the original documents of all documents submitted to us as facsimile, electronic or photostatic
copies and the authenticity of the originals of such copies. As to matters of fact, we have relied upon oral or written
representations of officers of the Company.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">The opinions set forth herein are subject to
the following assumptions, qualifications, limitations and exceptions being true and correct at or before the time of the delivery
of any Shares issued pursuant to the Plan: (a) either certificates representing the Shares shall have been duly executed, countersigned
and registered and duly delivered to the person entitled thereto against payment of the agreed consideration therefor (in an amount
not less than the par value thereof), or if any Share is to be issued in uncertificated form, the Company&rsquo;s books shall reflect
the issuance of such Share to the person entitled thereto against payment of the agreed consideration therefor (in an amount not
less than the par value thereof), all in accordance with the Plan; (b)&nbsp;the Registration Statement, and any amendments thereto
(including post-effective amendments), shall have become effective under the Act, and such effectiveness shall not have been terminated
or rescinded; and (c)&nbsp;the Shares shall have been issued in accordance with the Plan.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"></P>

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<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0.25in 0pt 0"><FONT STYLE="font-variant: small-caps">Barack Ferrazzano
Kirschbaum &amp; Nagelberg LLP</FONT></P>



<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">QCR Holdings, Inc.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">October 27, 2016</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">Page 2</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>



<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">Based upon the foregoing, and subject to the
qualifications, assumptions and limitations set forth herein, it is our opinion that the Shares have been duly authorized and,
when the Registration Statement becomes effective and the Shares have been issued in accordance with the Plan, the Shares will
be validly issued, and subject to the restrictions imposed by the Plan, fully paid and nonassessable.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">We express no opinion concerning the laws of
any jurisdiction other than the General Corporation Law of the State of Delaware.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">We express no opinion with respect to any specific
legal issues other than those explicitly addressed herein. We assume no obligation to update this opinion letter after the date
that the Registration Statement is initially declared effective or otherwise advise you with respect to any facts or circumstances
or changes in law that may occur or come to our attention after such date (even though the change may affect the legal conclusions
stated in this opinion letter).</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">We hereby consent to the inclusion of this opinion
as an exhibit to the Registration Statement. In giving this consent, we do not admit that we are within the category of persons
whose consent is required under Section 7 of the Act or the rules and regulations of the Commission.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 50%">Very truly yours,</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>/s/ Barack Ferrazzano Kirschbaum &amp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>Nagelberg LLP</TD></TR>
</TABLE>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>



<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-23.2
<SEQUENCE>6
<FILENAME>exh_232.htm
<DESCRIPTION>EXHIBIT 23.2
<TEXT>
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<P STYLE="margin: 0; text-align: right"><B>Exhibit 23.2</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center"><B>Consent of Independent Registered Public Accounting Firm</B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt">We consent to the incorporation by reference in this Registration Statement on Form S-8
of QCR&nbsp;Holdings, Inc. and subsidiaries of our reports dated March 11, 2016, relating to the consolidated financial statements
and the effectiveness of internal control over financial reporting which appear in the Annual Report on Form 10-K of QCR Holdings,
Inc. and subsidiaries for the year ended December 31, 2015.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">/s/ RSM US LLP</P>

<P STYLE="margin: 0pt 0; font-size: 10pt"></P>

<P STYLE="margin: 0pt 0; font-size: 10pt">Davenport, Iowa</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">October 27, 2016</P>



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