CAPITOL BANCORP LTD
NOTICE OF GRANT OF RESTRICTED STOCK AWARD
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<DESCRIPTION>NOTICE OF GRANT OF RESTRICTED STOCK AWARD
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<DIV align="right" style="font-size: 10pt; margin-top: 18pt">Exhibit 10.2
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<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><U><B>NOTICE OF GRANT OF </B></U>
</DIV>

<DIV align="center" style="font-size: 10pt"><U><B>RESTRICTED STOCK AWARD AND AWARD AGREEMENT</B></U></DIV>



<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">CAPITOL BANCORP LIMITED<BR>
One Business &#038; Trade Center<BR>
200 Washington Square North<BR>
Lansing, MI 48933

</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
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    <TD width="15%">&nbsp;</TD>
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    <TD width="70%">&nbsp;</TD>
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<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Name:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Award Number:</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Address:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Plan: 2007 Equity Incentive Plan</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">City, State, Zip:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">ID:</TD>
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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Effective <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>(the <B><I>&#147;Date of Grant&#148;</I></B>), you have been granted an award of <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>
shares of Capitol Bancorp Limited (the <B><I>&#147;Company&#148;</I></B>) common stock. These shares are restricted until
the Vesting Date(s) shown below.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The current total value of the award is $<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The award will vest in increments on the date(s) shown (the <B><I>&#147;Vesting Dates&#148;</I></B>), subject to
Participant continuing to be a Service Provider through each such date.
</DIV>
<DIV align="center">
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    <TD width="45%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="45%">&nbsp;</TD>
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<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">Shares</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">Full Vest</TD>
</TR>

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    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;By your signature and the Company&#146;s signature below, you and the Company agree that this Award
is granted under and governed by the terms and conditions of the Company&#146;s 2007 Equity Incentive
Plan and the Award Agreement, all of which are attached and made a part of this document.
</DIV>
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    <TD width="30%">&nbsp;</TD>
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<TR style="font-size: 1px">
    <TD colspan="1" valign="top" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="1" valign="top" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Capitol Bancorp Limited
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Date</TD>
</TR>
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    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="1" valign="top" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="1" valign="top" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Participant Name
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Date</TD>
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<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><U><B>CAPITOL BANCORP LIMITED</B></U>
</DIV>

<DIV align="center" style="font-size: 10pt"><U><B>RESTRICTED STOCK AWARD AGREEMENT</B></U></DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Capitol Bancorp Limited (the <B><I>&#147;Company&#148;</I></B>), pursuant to its 2007 Equity Incentive Plan (the
<B><I>&#147;Plan&#148;</I></B>), has awarded to Participant, Shares of Restricted Stock.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The award hereunder is in connection with and in furtherance of the Company&#146;s discretionary
bonus program for participation by the Company&#146;s Service Providers. Defined terms not explicitly
defined in this agreement shall have the same definitions as in the Plan or in the Notice of Grant
of Restricted Stock and Award Agreement (<B><I>&#147;Notice of Grant&#148;</I></B>), to which this agreement is attached.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The details of your Award are as follows:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT style="font-variant: SMALL-CAPS"><B>1.</B></FONT> <FONT style="font-variant: SMALL-CAPS"><B>Total Number of Shares Subject to this Award.</B></FONT> The total number of Shares
subject to this Award is set forth in the Notice of Grant.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT style="font-variant: SMALL-CAPS"><B>2.</B></FONT> <FONT style="font-variant: SMALL-CAPS"><B>Forfeiture Restriction.</B></FONT> Subject to the terms of Section&nbsp;3(a), in the
event Participant ceases to be a Service Provider for any or no reason (including death or
Disability) before the respective Vesting Dates (as set forth in the Notice of Grant), Participant
shall forfeit the then Unreleased Shares (defined below) to the Company. Upon such forfeiture, the
Company shall become the legal and beneficial owner of the Shares being forfeited and all rights
and interests therein or relating thereto, and the Company shall have the right to retain and
transfer to its own name the number of Shares being forfeited.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><FONT style="font-variant: SMALL-CAPS"><B>3.</B></FONT> <FONT style="font-variant: SMALL-CAPS"><B>Release of Shares from Forfeiture Restriction.</B></FONT>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>(a) </B>Subject to the limitations contained herein, the Shares will vest (be released) as set
forth in the Notice of Grant until either (i)&nbsp;the Shares become fully vested or (ii)&nbsp;Participant
ceases to be a Service Provider for any reason. Notwithstanding the foregoing, upon the occurrence
of a Change in Control and subject to Participant&#146;s &#147;covered termination&#148; (as defined in the
Company&#146;s Change in Control severance benefit policy for non-executives), all then Unreleased
Shares shall be released from the forfeiture restriction. (The period beginning on the date of
this Agreement and ending on each respective Vesting Date shall be referred to as the &#147;Period of
Restriction&#148;).
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>(b) </B>Until the Shares have been released from the forfeiture restriction, they may be referred
to herein as &#147;Unreleased Shares.&#148;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>(c) </B>The Unreleased Shares may bear the following forfeiture restrictive legend:
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&#147;THE SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO A RIGHT
OF FORFEITURE IN FAVOR OF THE COMPANY, AS SET FORTH IN A
</DIV>

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">STOCK AGREEMENT BETWEEN THE ISSUER AND THE ORIGINAL HOLDER OF THESE
SHARES, A COPY OF WHICH MAY BE OBTAINED AT THE PRINCIPAL OFFICE OF
THE ISSUER.&#148;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>(d) </B>The Share certificates representing the Shares, when released from the forfeiture
restriction, shall be delivered to Participant pursuant to Section&nbsp;4 of this Agreement.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT style="font-variant: SMALL-CAPS"><B>4.</B></FONT> <FONT style="font-variant: SMALL-CAPS"><B>Issuance of Share Certificates.</B></FONT>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>(a) </B>The certificates evidencing the Shares shall be held in escrow by the secretary of the
Company until the end of the respective Period of Restriction (or earlier, upon a Covered
Termination), at which time it shall be released to Participant by the Company in accordance with
the provisions hereof.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>(b) </B>At the end of each Period of Restriction, the Company shall cause the appropriate
certificate representing the Shares (then released from the forfeiture restriction) to be delivered
to Participant; provided, however that prior to such delivery Participant shall remit to the
Company an amount sufficient to satisfy any federal, state and/or local withholding tax
requirements in connection with the Shares then to be released.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>(c) </B>Subject to the terms hereof, Participant shall have all the rights of a stockholder with
respect to such Shares before the Shares are released from the forfeiture restriction, including
without limitation, the right to vote the Shares and receive any cash dividends declared thereon.
In the event of any dividend or other distribution (whether in the form of cash, Shares, other
securities, or other property), recapitalization, stock split, reverse stock split, reorganization,
merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of Shares or other
securities of the Company, or other change in the corporate structure of the Company affecting the
Shares, the Unreleased Shares will be increased, reduced or otherwise changed, and by virtue of any
such change Participant will in his or her capacity as owner of Unreleased Shares be entitled to
new or additional or different shares of stock, cash or securities (other than rights or warrants
to purchase securities); such new or additional or different shares, cash or securities will
thereupon be considered to be Unreleased Shares and will be subject to all of the conditions and
restrictions which were applicable to the Unreleased Shares pursuant to this Agreement. If
Participant receives rights or warrants with respect to any Unreleased Shares, such rights or
warrants may be held or exercised by Participant, provided that until such exercise any such rights
or warrants and after such exercise any shares or other securities acquired by the exercise of such
rights or warrants will be considered to be Unreleased Shares and will be subject to all of the
conditions and restrictions which were applicable to the Unreleased Shares pursuant to this
Agreement. The Administrator in its absolute discretion at any time may accelerate the vesting of
all or any portion of such new or

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">additional shares of stock, cash or securities, rights or warrants to purchase securities or
shares or other securities acquired by the exercise of such rights or warrants.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT style="font-variant: SMALL-CAPS"><B>5.</B></FONT> <FONT style="font-variant: SMALL-CAPS"><B>Adjustments.</B></FONT> All references to the number of Shares in this Agreement
shall be appropriately adjusted to reflect any dividend or other distribution (whether in the form
of cash, Shares, other securities, or other property), recapitalization, stock split, reverse stock
split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or
exchange of Shares or other securities of the Company, or other change in the corporate structure
of the Company affecting the Shares occurs after the date of this Agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><FONT style="font-variant: SMALL-CAPS"><B>6.</B></FONT> <FONT style="font-variant: SMALL-CAPS"><B>Participant&#146;s Representations.</B></FONT>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>(a)&nbsp;Tax Consequences. </B>Participant has reviewed with Participant&#146;s own tax advisors the
federal, state, local and foreign tax consequences of this investment and the transactions
contemplated by this Agreement. Participant is relying solely on such advisors and not on any
statements or representations of the Company or any of its agents. Participant understands that
Participant (and not the Company) shall be responsible for Participant&#146;s own tax liability that may
arise as a result of this investment or the transactions contemplated by this Agreement.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>(b)&nbsp;Tax Withholding. </B>Notwithstanding any contrary provision of this Agreement, no certificate
representing the Shares of Restricted Stock may be released from the escrow established pursuant to
Section&nbsp;4, unless and until satisfactory arrangements (as determined by the Administrator) will
have been made by Participant with respect to the payment of income, employment and other taxes
which the Company determines must be withheld with respect to such Shares. To the extent
determined appropriate by the Company in its discretion, it shall have the right (but not the
obligation) to satisfy any tax withholding obligations by reducing the number of Shares otherwise
deliverable to Participant. If Participant fails to make satisfactory arrangements for the payment
of any required tax withholding obligations hereunder at the time any applicable Shares otherwise
are scheduled to vest, Participant will permanently forfeit such Shares and the Shares will be
returned to the Company at no cost to the Company.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT style="font-variant: SMALL-CAPS"><B>7.</B></FONT> <FONT style="font-variant: SMALL-CAPS"><B>Award Not a Service Contract.</B></FONT> This Award is not a guarantee of continued
service and nothing in this Award shall be deemed to create in any way whatsoever any obligation on
Participant&#146;s part to continue in the service of the Company, or of the Company to continue
Participant&#146;s service with the Company. In addition, nothing in this Award shall obligate the
Company or any Affiliate, or their respective stockholders, Board of Directors, officers or
employees to continue any relationship which Participant might have as a Service Provider for the
Company or Affiliate.
</DIV>

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT style="font-variant: SMALL-CAPS"><B>8.</B></FONT> <FONT style="font-variant: SMALL-CAPS"><B>Governing Plan Document.</B></FONT> This Award is subject to all the provisions of
the Plan, a copy of which is attached hereto and its provisions are hereby made a part of this
Award, including without limitation the provisions of Section&nbsp;8 of the Plan relating to Restricted
Stock provisions, and is further subject to all interpretations, amendments, rules and regulations
which may from time to time be promulgated and adopted pursuant to the Plan. In the event of any
conflict between the provisions of this Award and those of the Plan, the provisions of the Plan
shall control.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT style="font-variant: SMALL-CAPS"><B>9.</B></FONT> <FONT style="font-variant: SMALL-CAPS"><B>Additional Conditions to Release from Escrow.</B></FONT> The Company will not be
required to issue any certificate or certificates for Shares hereunder or release such Shares from
the escrow established pursuant to Section&nbsp;4 prior to fulfillment of all the following conditions:
(a)&nbsp;the admission of such Shares to listing on all stock exchanges on which such class of stock is
then listed; (b)&nbsp;the completion of any registration or other qualification of such Shares under any
state or federal law or under the rulings or regulations of the Securities and Exchange Commission
or any other governmental regulatory body, which the Administrator will, in its absolute
discretion, deem necessary or advisable; (c)&nbsp;the obtaining of any approval or other clearance from
any state or federal governmental agency, which the Administrator will, in its absolute discretion,
determine to be necessary or advisable; and (d)&nbsp;the lapse of such reasonable period of time
following the date of grant of the Restricted Stock as the Administrator may establish from time to
time for reasons of administrative convenience.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><FONT style="font-variant: SMALL-CAPS"><B>9.</B></FONT> <FONT style="font-variant: SMALL-CAPS"><B>General Provisions.</B></FONT>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>(a) </B>This Agreement shall be governed by the laws of the State of Michigan. This Agreement and
the Plan represent the entire agreement between the parties with respect to the receipt of the
Shares by Participant. Modifications to this Agreement or the Plan can be made only in an express
written contract executed by a duly authorized officer of the Company. Notwithstanding anything to
the contrary in the Plan or this Agreement, the Company reserves the right to revise this Agreement
as it deems necessary or advisable, in its sole discretion and without the consent of Participant,
to comply with Section&nbsp;409A of the Internal Revenue Code of 1986, as amended (the <B><I>&#147;Code&#148;</I></B>), or to
otherwise avoid imposition of any additional tax or income recognition under Section&nbsp;409A of the
Code in connection to this Award of Restricted Stock.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>(b) </B>The rights and benefits of the Company under this Agreement shall be transferable to any
one or more persons or entities, and all covenants and agreements hereunder shall inure to the
benefit of, and be enforceable by the Company&#146;s successors and assigns. The rights and obligations
of Participant under this Agreement may only be assigned with the prior written consent of the
Company.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>(c) </B>Either party&#146;s failure to enforce any provision or provisions of this Agreement shall not
in any way be construed as a waiver of any such provision or provisions, nor prevent that party
from thereafter enforcing each and every other

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">provision of this Agreement. The rights granted both to parties herein are cumulative and
shall not constitute a waiver of either party&#146;s right to assert all other legal remedies available
to it under the circumstances.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>(d) </B>Participant agrees upon request to execute any further documents or instruments necessary
or desirable to carry out the purposes or intent of this Agreement.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;By Participant&#146;s signature on the Notice of Grant, Participant represents that Participant has
reviewed this Agreement in its entirety, has had an opportunity to obtain the advice of counsel
prior to executing this Agreement and fully understands all provisions of this Agreement.
</DIV>


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