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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0000950123-11-014367.txt : 20110216
<SEC-HEADER>0000950123-11-014367.hdr.sgml : 20110216
<ACCEPTANCE-DATETIME>20110215181214
ACCESSION NUMBER:		0000950123-11-014367
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20110215
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
FILED AS OF DATE:		20110216
DATE AS OF CHANGE:		20110215

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MIDDLEFIELD BANC CORP
		CENTRAL INDEX KEY:			0000836147
		STANDARD INDUSTRIAL CLASSIFICATION:	STATE COMMERCIAL BANKS [6022]
		IRS NUMBER:				341585111
		STATE OF INCORPORATION:			OH

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-32561
		FILM NUMBER:		11615473

	BUSINESS ADDRESS:	
		STREET 1:		15985 E HIGH ST
		STREET 2:		P O BOX 35
		CITY:			MIDDLEFILED
		STATE:			OH
		ZIP:			44062-9263
		BUSINESS PHONE:		4406321666

	MAIL ADDRESS:	
		STREET 1:		15985 EAST HIGH STREET
		STREET 2:		P O BOX 35
		CITY:			MIDDLEFIELD
		STATE:			OH
		ZIP:			44062-9263
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>c12700e8vk.htm
<DESCRIPTION>FORM 8-K
<TEXT>
<HTML>
<HEAD>
<TITLE>Form 8-K</TITLE>
</HEAD>
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style="width: 7.5in; font-family: 'Times New Roman',Times,serif; margin-left: 0.25in">
<DIV style="font-size: 10pt">
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style="border-bottom: black 2pt solid; width: 100%; font-size: 1pt">&nbsp;</DIV>
<DIV
style="border-bottom: black 1pt solid; width: 100%; font-size: 1pt">&nbsp;</DIV>

<P style="font-size: 14pt" align="center"><B>UNITED STATES<BR>
SECURITIES AND
EXCHANGE COMMISSION<BR>
<FONT style="font-size: 12pt">Washington, D.C. 20549
</FONT></B>

<P style="font-size: 18pt" align="center"><B>FORM 8-K</B>

<P style="font-size: 12pt" align="center"><B>CURRENT REPORT<BR>
Pursuant to
Section 13 or 15(d) of the Securities Exchange Act of 1934</B>

<P style="font-size: 10pt" align="center"><B>Date of Report (Date of earliest
event reported): February 15, 2011</B>

<P style="font-size: 24pt" align="center"><B>Middlefield Banc
Corp.<BR>
</B><FONT style="font-size: 10pt">(Exact name of registrant as
specified in its charter) </FONT>
<TABLE style="text-align: center; font-size: 10pt" border="0" cellspacing="0"
cellpadding="0" width="100%">

 <TR>
  <TD width="32%">&nbsp;</TD>
  <TD width="1%">&nbsp;</TD>
  <TD width="33%">&nbsp;</TD>
  <TD width="1%">&nbsp;</TD>
  <TD width="32%">&nbsp;</TD>
 </TR>
 <TR valign="bottom">
  <TD style="border-bottom: #000000 1px solid"><B>Ohio</B></TD>
  <TD>&nbsp;</TD>
  <TD style="border-bottom: #000000 1px solid"><B>000-32561</B></TD>
  <TD>&nbsp;</TD>
  <TD style="border-bottom: #000000 1px solid"><B>34-1585111</B></TD>
 </TR>
 <TR valign="top">
  <TD>(State or other Jurisdiction of Incorporation)</TD>
  <TD>&nbsp;</TD>
  <TD>(Commission File Number)</TD>
  <TD>&nbsp;</TD>
  <TD>(IRS Employer Identification No.)</TD>
 </TR>

</TABLE>
<TABLE style="text-align: center; font-size: 10pt" border="0" cellspacing="0"
cellpadding="0" width="100%">

 <TR>
  <TD width="49%">&nbsp;</TD>
  <TD width="1%">&nbsp;</TD>
  <TD width="49%">&nbsp;</TD>
 </TR>
 <TR valign="bottom">
  <TD style="border-bottom: #000000 1px solid"><B>15985 East High Street,
Middlefield, Ohio<BR>
</B></TD>
  <TD>&nbsp;</TD>
  <TD style="border-bottom: #000000 1px solid"><B>44062-0035</B></TD>
 </TR>
 <TR valign="top">
  <TD>(Address of Principal Executive Offices)</TD>
  <TD>&nbsp;</TD>
  <TD>(Zip Code)</TD>
 </TR>

</TABLE>


<P style="font-size: 10pt" align="center">Registrant&#8217;s telephone number,
including area code: <B>(440) 632-1666</B>
<TABLE style="text-align: center; font-size: 10pt" border="0" cellspacing="0"
cellpadding="0" width="30%">

 <TR>
  <TD width="100%">&nbsp;</TD>
 </TR>
 <TR>
  <TD style="border-bottom: #000000 1px solid" nowrap><B>[not
applicable]<BR>
</B></TD>
 </TR>
 <TR>
  <TD nowrap>(Former name or former address if changed since last report.)</TD>
 </TR>

</TABLE>


<P style="font-size: 10pt" align="left">Check the appropriate box below if the
Form 8-K filing is intended to simultaneously satisfy the filing obligation of
the registrant under any of the following provisions:

<P style="font-size: 10pt" align="left"><FONT face="Wingdings">o</FONT> Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)<BR>
<BR>
<FONT face="Wingdings">o</FONT> Soliciting material pursuant
to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<BR>
<BR>
<FONT
face="Wingdings">o</FONT> Pre-commencement communications pursuant to Rule
14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<BR>
<BR>
<FONT
face="Wingdings">o</FONT> Pre-commencement communications pursuant to Rule
13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))<BR>

<DIV
style="border-bottom: black 1pt solid; margin-top: 10pt; width: 100%; font-size: 1pt">&nbsp;</DIV>
<DIV
style="border-bottom: black 2pt solid; width: 100%; font-size: 1pt">&nbsp;</DIV>
</DIV>

<P style="font-size: 10pt" align="center">

<P style="display: none; font-size: 10pt" align="center">1
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV
style="width: 7.5in; font-family: 'Times New Roman',Times,serif; margin-left: 0.25in">

<P style="font-size: 10pt" align="left"><B>Item&nbsp;5.02 Compensatory
Arrangements of Certain Officers</B>

<P style="text-indent: 4%; font-size: 10pt" align="left">At The Middlefield
Banking Company&#8217;s February&nbsp;15, 2011 meeting, the Board of Directors
took a number of actions affecting officer compensation, including determining
the compensation of President and Chief Executive Officer Thomas G. Caldwell,
Executive Vice President and Chief Operating Officer James R. Heslop, II, Chief
Financial Officer and Treasurer Donald L. Stacy, and Senior Vice
President/Senior Loan Officer Jay P. Giles. Base salary in 2011 for Mr.
Caldwell will be $234,000 (an increase of $7,065), for Mr.&nbsp;Heslop $185,000
(an increase of $5,625), for Mr.&nbsp;Stacy $140,000 (an increase of $4,000),
and for Mr.&nbsp;Giles $126,000 (an increase of $3,000). None of these officers
is a party to an employment agreement.

<P style="text-indent: 4%; font-size: 10pt" align="left">Additionally,
Middlefield&#8217;s Board moved to continue for 2011 the Annual Incentive Plan,
a short-term cash incentive plan initially adopted in 2003 that is designed to
reward employees with additional cash compensation if specified objectives are
achieved. The objectives are tied to the strategic and financial plans of
Middlefield Banc Corp.&#8217;s banking subsidiaries. Each employee has
pre-determined goals and is provided with a quarterly report of his or her
achievement of the goals. For 2011, the only bank-wide performance measure that
will apply is targeted net income.

<P style="text-indent: 4%; font-size: 10pt" align="left">If targeted
performance is achieved in 2011, Mr.&nbsp;Caldwell could receive a cash bonus
in an amount equal to 20% of his base salary if performance is 105% of the
target, up to 30% of his base salary if performance is 110% of the target, or
only 10% if performance achieves the target. Messrs.&nbsp;Heslop and Stacy
could receive a cash bonus in an amount equal to 15% of their salaries if
performance is 105% of the target, up to 20% if performance is 110% of the
target, or only 10% if performance achieves the target. Mr.&nbsp;Giles could
receive a cash bonus ranging from an amount equal to 8.0% of his salary if the
target is achieved, 11% of his salary if performance is 105% of the target, or
14% if performance is 110% of the target. Distributions under the plan are made
in the first quarter of the year if the established goals for the preceding
year are achieved. The Annual Incentive Plan may be terminated by the Board at
any time.

<P style="font-size: 10pt" align="center"><B>Signatures</B>

<P style="text-indent: 4%; font-size: 10pt" align="left">Pursuant to the
requirements of the Securities Exchange Act of 1934, the registrant has duly
caused this report to be signed on its behalf by the undersigned hereunto duly
authorized.

<P style="margin-left: 46%; font-size: 10pt" align="left"><B>Middlefield Banc
Corp.</B>

<P>
<TABLE style="font-size: 10pt" border="0" cellspacing="0" cellpadding="0"
width="100%">

 <TR
style="background: none transparent scroll repeat 0% 0%; color: #000000; font-size: 10pt"
valign="top">
  <TD width="3%" nowrap align="left">Date: &nbsp;</TD>
  <TD width="1%">&nbsp;</TD>
  <TD>February&nbsp;15, 2011</TD>
 </TR>

</TABLE>


<P style="margin-top: -11pt; margin-left: 46%; font-size: 10pt"
align="left"><U>/s/ James R. Heslop, II</U><BR>
James R. Heslop, II<BR>
Executive Vice President and COO

<P>
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width="100%">

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valign="top">
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  <TD></TD>
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</TABLE>


<P style="font-size: 10pt" align="center">

<P style="display: none; font-size: 10pt" align="center">2
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