MERCANTILE BANK CORP
DIRECTOR FEE SUMMARY
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<TYPE>EX-10.33
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<FILENAME>k12959exv10w33.htm
<DESCRIPTION>DIRECTOR FEE SUMMARY
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<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>EXHIBIT 10.33</B>
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<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>DIRECTOR FEE SUMMARY</B>

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Set forth below is a summary of the current director fee arrangements for non-employee
directors serving on the Boards of Directors of Mercantile Bank Corporation (&#147;Mercantile&#148;) and its
wholly owned subsidiary, Mercantile Bank of Michigan (&#147;Bank&#148;).
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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">For 2007, non-employee directors of the Bank are paid an annual retainer of $12,000, and a fee
of $700 for each meeting of the Board of Directors of the Bank that they attend. In addition,
non-employee directors are paid a meeting fee of $700 for each meeting of the Audit Committee, $600
for each meeting of the Compensation Committee and Nominating Committee, and $400 for each meeting
of other committees of the Board of Directors of the Bank that they attend. Non-employee directors
are also paid fees of the same amount for meetings of Mercantile&#146;s Board of Directors and its
committees, when for Board meetings there is not also a meeting of the Board of Directors of the
Bank on the same day, and for committee meetings when there is not also a meeting of a committee of
the Board of Directors of the Bank having the same name or function on the same day. For meetings
that are held by telephone or other remote communications equipment, the meeting fees are half the
amount described above. Annual retainer fees are also paid to the Chairmen of three of the
committees of Mercantile&#146;s Board of Directors. The annual retainer is, for the Chairman of the
Audit Committee &#151; $6,000, for the Chairman of the Compensation Committee &#151; $4,000, and for the
Chairman of the Nominating Committee &#151; $4,000.
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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The same persons currently serve on the Boards of Directors of Mercantile and the Bank. Under
the Bank&#146;s deferred compensation plan for non-employee directors, directors may elect to defer the
receipt of the annual retainer and meeting fees until they are no longer serving on the Board.
Directors are eligible to receive stock-based awards under the Stock Incentive Plan of 2006.
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