<SEC-DOCUMENT>0001193125-17-046117.txt : 20170216
<SEC-HEADER>0001193125-17-046117.hdr.sgml : 20170216
<ACCEPTANCE-DATETIME>20170216104202
ACCESSION NUMBER:		0001193125-17-046117
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20170213
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20170216
DATE AS OF CHANGE:		20170216

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:	001-36613
		FILM NUMBER:		17616835

	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>d352791d8k.htm
<DESCRIPTION>FORM 8-K
<TEXT>
<HTML><HEAD>
<TITLE>Form 8-K</TITLE>
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 <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>UNITED STATES </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Washington, DC 20549 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>FORM <FONT
STYLE="white-space:nowrap">8-K</FONT> </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>CURRENT
REPORT </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Pursuant to Section&nbsp;13 or 15(d) </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>of The Securities Exchange Act of 1934 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Date of Report (date of earliest event reported): February&nbsp;13, 2017 </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:24pt; font-family:Times New Roman" ALIGN="center"><B>Middlefield Banc Corp. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(Exact name of registrant specified in its charter) </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top" ALIGN="center"><B>Ohio</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B><FONT STYLE="white-space:nowrap">001-36613</FONT></B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B><FONT STYLE="white-space:nowrap">34-1585111</FONT></B></TD></TR>
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<TD VALIGN="top" ALIGN="center"><B>(State or other jurisdiction<BR>of incorporation)</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Commission</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>File Number)</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(IRS Employer</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Identification No.)</B></P></TD></TR>
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<TD VALIGN="top" ALIGN="center"><B>15985 East High Street, Middlefield, Ohio</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B><FONT STYLE="white-space:nowrap">44062-0035</FONT></B></TD></TR>
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<TD VALIGN="top" ALIGN="center"><B>(Address of principal executive offices)</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>(Zip Code)</B></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Registrant&#146;s telephone number, including area code (440)
<FONT STYLE="white-space:nowrap">632-1666</FONT> </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>[not applicable] </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Former name or former address, if changed since last report) </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Check the appropriate box below if the Form <FONT STYLE="white-space:nowrap">8-K</FONT> filing is intended to simultaneously satisfy the filing obligation of
the registrant under any of the following provisions (see General Instruction A.2. below): </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top">Soliciting material pursuant to Rule <FONT STYLE="white-space:nowrap">14a-12</FONT> under the Exchange Act (17 CFR <FONT STYLE="white-space:nowrap">240.14a-12)</FONT> </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top">Pre-commencement communications pursuant to Rule <FONT STYLE="white-space:nowrap">14d-2(b)</FONT> under the Exchange Act (17 CFR <FONT STYLE="white-space:nowrap">240.14d-2(b))</FONT> </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top">Pre-commencement communications pursuant to Rule <FONT STYLE="white-space:nowrap">13e-4(c)</FONT> under the Exchange Act (17 CFR <FONT STYLE="white-space:nowrap">240.13e-4(c))</FONT> </TD></TR></TABLE>
<P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Item&nbsp;5.02(e) Compensatory Arrangements of Certain Officers </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">On February&nbsp;13, 2017 Middlefield Banc Corp. made conditional stock awards to three executive officers, including President and CEO Thomas
G. Caldwell (345 shares), Executive Vice President and Chief Operating Officer James R. Heslop, II (266 shares), and Senior Vice President/Chief Financial Officer and Treasurer Donald L. Stacy (212 shares). The award amount is a percentage of the
award recipient&#146;s salary, divided by the share price at the close of market on February&nbsp;13, 2017. The closing price of the shares on February&nbsp;13, 2017 was $40.55. The percentage of salary for purposes of calculating the award to
Messrs. Caldwell, Heslop, and Stacy is 5%. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The award recipient will not become the owner of and entitled to the shares unless a service
condition is satisfied. The conditional share awards do not confer on the recipient any shareholder rights, including the right to vote or the right to cash dividends, until the conditions are satisfied or waived. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The award recipient must maintain service with Middlefield Banc Corp. and affiliates until sixty (60)&nbsp;days following the effective date
of the award to satisfy the service condition, but the service condition is waived if the recipient dies or becomes disabled before that date or if a change in control of Middlefield Banc Corp. occurs before that date. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This summary of the agreement&#146;s terms is qualified in its entirety by reference to the copy of the form of conditional stock award
agreement attached as an exhibit. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Item&nbsp;9.01(d) Exhibits. </B></P>
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<TD VALIGN="top" NOWRAP>10.29</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Form of Restricted Stock Award Agreement</TD></TR>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Signatures </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">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> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top"><B>Middlefield Banc Corp.</B></TD></TR>
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<TD VALIGN="top">Date: February&nbsp;16, 2017</TD>
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<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ James R. Heslop, II</P></TD></TR>
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<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
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<TD VALIGN="top">James R. Heslop, II</TD></TR>
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<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
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<TD VALIGN="top">Executive Vice President and COO</TD></TR>
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<DOCUMENT>
<TYPE>EX-10.29
<SEQUENCE>2
<FILENAME>d352791dex1029.htm
<DESCRIPTION>EX-10.29
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.29 </B></P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>M<SMALL>IDDLEFIELD</SMALL> B<SMALL>ANC</SMALL> C<SMALL>ORP</SMALL>. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>2007 O<SMALL>MNIBUS</SMALL> E<SMALL>QUITY</SMALL> P<SMALL>LAN</SMALL> </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>R<SMALL>ESTRICTED</SMALL> S<SMALL>TOCK</SMALL> A<SMALL>WARD</SMALL> A<SMALL>GREEMENT</SMALL> </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>Middlefield Banc Corp. </B>(&#147;Middlefield&#148;), an Ohio corporation, hereby grants Restricted Stock in accordance with Article 7 of
Middlefield&#146;s 2007 Omnibus Equity Plan to &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (the &#147;Participant&#148;), subject to the terms and conditions of this
Restricted Stock Award Agreement. Terms that are defined in the 2007 Omnibus Equity Plan are used in this Restricted Stock Award Agreement as they are defined in the 2007 Omnibus Equity Plan. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>1</B>. <B>Number of Shares of Restricted Stock Subject to the Award</B>. The number of shares of Middlefield common stock awarded under this
Restricted Stock Award Agreement is &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares, which for purposes of this Restricted Stock Award Agreement shall be deemed also to
include any shares issuable after the effective date of this Restricted Stock Award Agreement as a stock dividend or stock split or issuable because of another form of change in the capital structure of Middlefield and relating to the shares of
common stock awarded under this Restricted Stock Award Agreement. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>2</B>. <B>Effective Date of the Award</B>. The date of this Award and
the effective date of this Restricted Stock Award Agreement is February&nbsp;13, 2017. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>3</B>. <B>The Award is Conditional and is
Subject to Forfeiture</B>. The only condition to unrestricted ownership of the shares awarded by this Restricted Stock Award Agreement that must be satisfied by the Participant is that the Participant must maintain continuous employment with
Middlefield or a Related Entity for sixty (60)&nbsp;days after the effective date. Until the end of that sixty day period the Restricted Stock awarded by this Restricted Stock Award Agreement shall be held by Middlefield as escrow agent and shall be
considered unvested. If the Participant maintains continuous employment with Middlefield or a Related Entity until sixty days after the effective date of this Restricted Stock Award Agreement, the Award shall become fully vested and <FONT
STYLE="white-space:nowrap">non-forfeitable</FONT> and the Participant thereafter shall possess all right, title, and interest in and to the shares. If the Participant does not maintain continuous employment with Middlefield or a Related Entity until
sixty days from the effective date of this Restricted Stock Award Agreement, whether because of voluntary or involuntary termination, termination because of disability, or death, the Award shall be forfeited in its entirety by the Participant
effective as of the date the Participant&#146;s employment terminates, unless in its sole discretion the Plan Committee elects to accelerate the Participant&#146;s vesting in and right to all or a portion of the Award when the Participant&#146;s
employment terminates. However, if a Change in Control occurs prior to sixty days from the effective date of this Restricted Stock Award Agreement and if the Participant maintains continuous employment with Middlefield or a Related Entity through
the date of the Change in Control, on the date of the Change in Control the Award shall become fully vested and <FONT STYLE="white-space:nowrap">non-forfeitable</FONT> and the Participant thereafter shall possess all right, title, and interest in
and to the shares. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>4</B>. <B>The Shares of Restricted Stock Subject to the Award Are Not Transferable as Long as the Award Is Subject
to Forfeiture</B>. Until the shares of Restricted Stock subject to the Award become vested and <FONT STYLE="white-space:nowrap">non-forfeitable</FONT> in accordance with section 3, the Participant shall not be permitted to sell, transfer, pledge,
assign, or otherwise alienate or hypothecate any of the shares or any interest in the shares. Until that time, Middlefield shall be entitled to disregard any attempt by the Participant to sell, transfer, pledge, assign, or otherwise alienate or
hypothecate any of the shares or any interest in the shares, and any such sale, transfer, pledge, assignment, or other alienation or hypothecation shall be void and of no force or effect. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>5</B>. <B>Rights as a Stockholder</B>. Except as may be otherwise provided in this Restricted Stock Award Agreement, as the record holder of
the shares of Restricted Stock subject to the Award the Participant shall have all of the associated rights of stockholder under Ohio law and Middlefield&#146;s Articles of Incorporation and Code of Regulations, including the right to exercise
voting power and the right to cash dividends if, as, and when declared by Middlefield&#146;s board of directors. </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>6</B>. <B>The 2007 Omnibus Equity Plan Governs</B>. The Award and this Restricted Stock Award
Agreement are subject to the terms and conditions of the 2007 Omnibus Equity Plan, as well as any rules of the Plan Committee under the 2007 Omnibus Equity Plan. The Participant acknowledges having received a copy of the 2007 Omnibus Equity Plan.
The Participant represents that he or she is familiar with the terms and provisions of the 2007 Omnibus Equity Plan. The Participant accepts this Award subject to all the terms and provisions of the 2007 Omnibus Equity Plan. The Participant agrees
to accept as binding, conclusive, and final all decisions or interpretations of Middlefield&#146;s board of directors or Plan Committee having to do with the 2007 Omnibus Equity Plan or this Restricted Stock Award Agreement. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>7. Certificates</B>. Provided book entry registration is allowed by Middlefield&#146;s Articles of Incorporation and Code of Regulations,
instead of issuing certificates representing shares of common stock awarded by this Restricted Stock Award Agreement, Middlefield may record the Participant&#146;s ownership of the shares using a book entry system. If certificates are issued, they
shall bear the following legend &#150; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><B>The shares of Middlefield Banc Corp. common stock represented by this certificate have not been
registered under the Securities Act of 1933 or any state or other securities laws. Neither the shares nor any interest or participation herein may be offered, sold, or otherwise transferred except (</B><B><I>x</I></B><B>)&nbsp;according to an
exemption from or in a transaction not subject to the registration requirements of the Securities Act of 1933 and applicable state securities laws or (</B><B><I>y</I></B><B>)&nbsp;according to an effective registration statement under the Securities
Act of 1933 </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>8</B>. <B>Community Property</B>. Each of the Participant and the Participant&#146;s spouse is individually bound by
the terms of this Restricted Stock Award Agreement, and the interest (if any) of the Participant&#146;s spouse in the Award is subject to the terms of this Restricted Stock Award Agreement. Nothing in this Restricted Stock Award Agreement shall
create a community property interest if no community property interest otherwise exists. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>9</B>. <B>Entire Agreement</B>. This
Restricted Stock Award Agreement and the 2007 Omnibus Equity Plan supersede any and all other prior understandings and agreements, either oral or in writing, between the parties concerning the subject matter and constitute the sole agreement between
the parties relating to the subject matter. All prior negotiations and agreements between the parties concerning the subject matter of this Restricted Stock Award Agreement are merged in this Restricted Stock Award Agreement. Each party to this
Restricted Stock Award Agreement acknowledges that no representations, inducements, promises, or agreements concerning the Restricted Stock have been made by any party or by anyone acting on behalf of any party that are not contained in this
Restricted Stock Award Agreement or in the 2007 Omnibus Equity Plan, and each acknowledges that any agreement, statement, or promise concerning the Restricted Stock that is not contained in this Restricted Stock Award Agreement or the 2007 Omnibus
Equity Plan is not valid, is not binding, and is of no force or effect. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>10</B>. <B>Modification</B>. No change or modification of this
Restricted Stock Award Agreement shall be valid or binding upon the parties unless the change or modification is in writing and is signed by the parties. However, Middlefield may change or modify this Restricted Stock Award Agreement without the
Participant&#146;s consent or signature if in its sole discretion Middlefield determines that the change or modification is necessary for purposes of compliance with or exemption from the requirements of the Internal Revenue Code of 1986, including
but not limited to section 409A of the Internal Revenue Code of 1986, or any regulations or other Department of Treasury guidance of general application issued under the Internal Revenue Code of 1986. Middlefield may amend the 2007 Omnibus Equity
Plan to the extent permitted by the 2007 Omnibus Equity Plan. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>11</B>. <B>Headings</B>. The headings in this Restricted Stock Award
Agreement are solely for convenience of reference and shall not affect the interpretation of this Restricted Stock Award Agreement. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>12</B>. <B>Notice</B>. All notices, requests, and other communications hereunder shall be in writing and shall be deemed to have been duly
given if delivered by hand or mailed, certified or registered mail, return receipt requested, with postage prepaid, to the following addresses or to such other address as either party may designate by like notice. If to Middlefield, notice shall be
given to Middlefield Banc Corp., 15985 East High Street, P.O. Box 35, Middlefield, Ohio 44062, Attention: Chairman, Compensation Committee, or to such other address as Middlefield shall have designated to the Participant in writing. If to the
Participant, notice shall be given to the Participant at the Participant&#146;s address appearing on the signature page of this Restricted Stock Award Agreement, or to such other address as the Participant shall have designated to Middlefield </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">2 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>13</B>. <B>Taxes</B>. The Participant is hereby advised to consult immediately with his or her
own tax advisor about the tax consequences of this Restricted Stock Award Agreement, the method and timing for filing an election to include this Award in income under section 83(b) of the Internal Revenue Code of 1986, and the tax consequences of
that election. By executing this Restricted Stock Award Agreement, the Participant agrees that if the Participant makes an election to include the Award in income under section 83(b) of the Internal Revenue Code of 1986, the Participant shall
provide Middlefield with written notice of the election in accordance with the regulations under section 83(b) of the Internal Revenue Code of 1986. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>14</B>. <B>No Registration Rights</B>. The Participant acknowledges and agrees that Middlefield and its Related Entities are under no
obligation to register the Participant&#146;s offer and sale of the shares awarded under this Restricted Stock Award Agreement under the Securities Act of 1933 or the securities laws of any state. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>I<SMALL>N</SMALL> W<SMALL>ITNESS</SMALL> W<SMALL>HEREOF</SMALL></B><SMALL></SMALL>, Middlefield has caused this Restricted Stock Award
Agreement to be executed by its duly authorized officer as of the date specified in section 1, and the Participant has duly executed this Restricted Stock Award Agreement as of the date specified in section 1 and consents to and approves all of its
terms. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="bottom" COLSPAN="3"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>M<SMALL>IDDLEFIELD</SMALL> B<SMALL>ANC</SMALL>
C<SMALL>ORP</SMALL>.</B></P></TD></TR>
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<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">By:</P></TD>
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<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">William J. Skidmore</P></TD></TR>
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<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Print Name:</P></TD>
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<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Chairman, Compensation Committee</P></TD></TR>
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