Wolverine Bancorp, Inc. Watch

from S-1 36 pages Wolverine Bancorp, Inc. Up to 3,392,500 Shares (Subject to Increase Up to 3,901,375 Shares) Common Shares ($0.01 Par Value) Subscription Price $10.00 Per Share Agency Agreement , 2010

from S-1 7 pages This Letter Confirms the Engagement of Keefe, Bruyette & Woods, Inc. (“Kbw”) to Act as the Financial Advisor to Wolverine Bank (“Bank”) in Connection With the Bank’s Proposed Conversion From the Mutual to Stock Form of Organization Pursuant to the Bank’s Plan of Conversion (The “Conversion”), Including the Offer and Sale of Certain Shares of the Common Stock (The “Common Stock”) of a Holding Company (The “Holding Company”) to Be Formed by the Bank to Eligible Persons in a Subscription Offering, With Any Remaining Shares Offered to the General Public in a Community Offering (The Subscription Offering, the Community Offering and Any Syndicated Community Offering Are Collectively Referred to Herein as the “Offerings”). in Addition, Kbw Will Act as Conversion Agent in Connection With the Offerings Pursuant to the Terms of a Separate Agreement Between the Bank and Kbw. the Bank and the Holding Company Are Collectively Referred to Herein as the “Company”. This Letter Sets Forth the Terms and Conditions of Our Engagement as Financial Advisor to the Bank. 1. Advisory/Offering Services