Document:

EXHIBIT 10(a)-9  

AMENDMENT NO. 1

TO

PERFORMANCE BASED AND EMPLOYMENT VESTED RESTRICTED STOCK AGREEMENT

THIS
AMENDMENT (this "Amendment") is made and entered into on February 20, 2015 to the Performance Based and Employment Vested Restricted Stock
Agreement (the "Agreement") dated March 10, 2014 between TCF FINANCIAL CORPORATION, a Delaware corporation (the
"Company") and WILLIAM A. COOPER ("Grantee"). 

WHEREAS,
the Company and Grantee desire to modify the consequences in the event Grantee terminates his employment with the Company for Good Reason (as defined in the Agreement) so that vesting of the
Deferred Shares (as defined in the Agreement) granted to Grantee will not accelerate upon such event other than in the event of a "change of control" as defined in paragraph 10 of the
Agreement, 

NOW,
THEREFORE, in consideration of the mutual promises and agreements set forth herein, the parties agree as follows: 

1.     Elimination
of Accelerated Vesting in the Event of a Good Reason Termination prior to a Change of Control.    Sections 3(b) and 3(c) of
the Agreement are hereby amended in their entirety to read as follows: 

"b.   Termination
without Cause or for Good Reason prior to Change of Control.    Notwithstanding the foregoing, if prior to a change in control: 

(i)     If
TCF Financial terminates the employment of Grantee without Cause (as defined in subparagraph e. below), then the Employment Criteria for vesting the Deferred Shares is
waived and shall no longer be a condition to vesting. In such event, all unvested Deferred Shares will vest when and if the Performance Goal has been satisfied for any calendar year during the period
2014 - 2017. 

(ii)    If
Grantee terminates his employment with TCF Financial for Good Reason (as defined in subparagraph e. below), then the Employment Criteria for vesting the Deferred Shares is
waived and shall no longer be a condition to vesting. In such event, the Deferred Shares will vest in accordance with the terms of Section 3(a) above as if Grantee's employment with TCF
Financial continued through December 31, 2017 and subject to satisfaction of the Performance Goal as provided in Section 3(a) or waived pursuant to Section 3(c) below regardless
of when the change in control occurs. 

c.     Termination
without Cause or for Good Reason if a Change of Control Occurs.    Notwithstanding the foregoing, upon the occurrence of a change in
control, the Performance Criteria for vesting the Deferred Shares is waived and shall no longer be a condition to vesting. In such event, 50% of the Deferred Shares (250,000 Deferred Shares) will vest
on January 1, 2017 subject to Grantee's continued employment with TCF Financial or any of its successors through December 31, 2016, and 50% of the Deferred Shares (250,000 Deferred
Shares) will vest on January 1, 2018 subject to Grantee's continued employment with TCF Financial or any of its successors through December 31, 2017. In addition and notwithstanding the
foregoing, if upon or after the occurrence of a change in control, Grantee's employment with TCF Financial or any of its successors is terminated without Cause by TCF Financial or any of its
successors or Grantee terminates his employment for Good Reason, then all of the unvested Deferred Shares will vest on the date of such termination of employment. In addition and notwithstanding the
foregoing, if prior to a change of control, Grantee's employment with TCF Financial is terminated by Grantee for Good Reason, then all of the unvested Deferred Shares will vest on the date of the
change of control." 

2.     Full
Force and Effect. Except as expressly amended or modified by the Amendment, the Agreement shall continue in full force and effect in accordance with its terms and provisions as
amended hereby. 

[Signature
page follows] 

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IN
WITNESS WHEREOF, the parties hereto have caused this AMENDMENT TO PERFORMANCE BASED/TIME BASED RESTRICED STOCK AGREEMENT to be executed as of the date first above written. 

 

					
	 	 	TCF FINANCIAL CORPORATION
	

 	
 	
By:	
 	
/s/ JOSEPH T. GREEN  
	

 	
 	
Title:	
 	
Senior Vice President, General Counsel and Secretary
	 	 	 	 	

  

 

 I
acknowledge that this Agreement includes Non-Solicitation and Confidentiality obligations that are binding on me after my termination of employment with TCF. 

 

			
	 	 	ACCEPTED ("Grantee"):
	

 	
 	
/s/ WILLIAM A. COOPER

  William A. Cooper
	

 	
 	

  (Street Address)
	

 	
 	

  (City, State and Zip Code)

 

 

					
	

 	
 	
TRUSTEE:

THE FIRST NATIONAL BANK IN SIOUX FALLS
	

 	
 	
By:	
 	
/s/ THOMAS F. BENZ  
	 	 	 	 	

  
	

 	
 	
Title:	
 	
Vice President
	 	 	 	 	

  

 

 115EXHIBIT 10(c)-1  

FORM OF

TCF FINANCIAL CORPORATION

2015 MANAGEMENT INCENTIVE PLAN – EXECUTIVE AWARD

1.     This
TCF Financial Corporation 2015 Management Incentive Plan – Executive (this "Award") is effective for the 2015 fiscal year of TCF Financial Corporation ("TCF").
This Award is granted under and subject to the terms and conditions of the TCF Performance-Based Compensation Policy for Covered Executive Officers (the "Performance-Based Plan"). 

2.     Each
participant shall sign a copy of this Award to acknowledge the terms of this Award. Participants are those approved by the Compensation, Nominating, and Corporate Governance
Committee (the "Committee") of the TCF Financial Board of Directors. 

3.     Each
Award recipient is eligible to receive a cash payment in an amount not to exceed [             ]% in the aggregate of his or her base salary as in effect
on January 23, 2015 ("base salary"), based on the following criteria (subject to paragraphs 4 and 5 and the terms of the Performance-Based Plan) in the amounts set forth
below:

	•
	 Return on Tangible Common Equity ("ROTCE"): The participant will be eligible to receive a cash incentive of an amount determined as
follows:  

	•
	 [             ]% of base salary if TCF's ROTCE for 2015 is at the
35th percentile of the 2015 Peer Group (as defined below); or   

	•
	 [             ]% of base salary if TCF's ROTCE for 2015 is at the
50th percentile of the 2015 Peer Group; or   

	•
	 [             ]% payout if TCF's ROTCE for 2015 is at or above the
80th percentile of the 2015 Peer Group. 

	•
	 Return on Average Assets ("ROA"): The participant will be eligible to receive a cash incentive of an amount determined as
follows:  

	•
	 [             ]% of base salary if TCF's ROA for 2015 is equal to 80% of the average ROA of the
2015 Peer Group for 2015; or   

	•
	 [             ]% of base salary if TCF's ROA for 2015 is equal to the average ROA of the 2015
Peer Group for 2015; or   

	•
	 [             ]% of base salary if TCF's ROA for 2015 is equal to or above 120% of the average
ROA of the 2015 Peer Group for 2015. 

For
results in between any of the levels set forth for each goal above, the payout will be interpolated in a linear fashion between payout levels. For performance below the
35th percentile of ROTCE or below 80% of the average ROA of the 2015
Peer Group, no payouts will be made. ROTCE shall be calculated as return on average tangible stockholders' equity excluding preferred equity under the Performance-Based Plan. ROA and ROTCE will be
calculated as provided in the Performance-Based Plan and shall exclude extraordinary or non-recurring items as well as the results from any businesses newly acquired or commenced by TCF Financial (or
its subsidiaries) during fiscal 2015. The 2015 Peer Group will be determined in accordance with the description in TCF Financial's proxy statement for the 2015 Annual Meeting of Stockholders. 

4.     The
Committee may in its discretion, reduce or eliminate the amount of the incentive determined under this Award for any reason. Among other things, participants will be assessed for
incentive purposes based on their effectiveness in managing risk within their respective areas of accountability during the plan year. The risk management assessment will include review of relevant
key risk indicators (KRIs) used in the TCF Enterprise Risk Management program. The Committee has authority to make interpretations under this Award and to approve all calculations made for this Award.
Incentive compensation under this Award will be paid in cash as soon as possible following certification of the performance goals by the Committee, but no later than March 15, 2016. A
participant need not be employed by TCF Financial (or the same subsidiary as employed by on the date of this Award) after December 31, 2015 in order to receive payment under the Award. 

5.     The
Committee may amend this Award from time to time as it deems appropriate, except that any such amendment shall be in writing and signed by both TCF Financial and the participant
and no amendment may contravene requirements of the Performance-Based Plan. This Award shall not be construed as a contract of employment, nor shall it be considered a term of employment, nor as a
binding contract to pay awards. 

6.     This
Award is effective for service on or after January 1, 2015. 

7.     While
the participant is actively employed with TCF Financial or any of its subsidiaries, and, in the event of termination of employment by TCF Financial or any of its subsidiaries or
the participant for any reason for a period of one year after the 

116

 

participant's
termination of employment, the participant agrees that, except with the prior written approval of the Committee, the participant will not offer to hire, entice away, or in any manner
attempt to persuade any officer, employee, or agent of TCF Financial or any of its subsidiaries to discontinue his or her relationship with TCF Financial or any of its subsidiaries nor will the
participant directly or indirectly solicit, divert, take away or attempt to solicit business of TCF Financial or any of its subsidiaries as to which the participant has acquired any knowledge during
the term of the participant's employment with TCF Financial or any of its subsidiaries. 

8.     This
Award shall be governed by, and construed in accordance with, the laws of the State of Minnesota. 

Acknowledgement  

I have received, read, and acknowledge the terms of the foregoing Award and the Performance-Based Plan. 

 

			
	
 February 10, 2015

  Date	
 	

  Signature

 

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