Document:

Exhibit 10(s)

 

 

SECRETARIAL CERTIFICATION

OF THE

BOARD OF DIRECTORS

TCF FINANCIAL CORPORATION

October 10, 2001

 

 

 

Re:
Amend Directors Deferred Compensation Plan and Trust
to Authorize Leveraging; Approve Leveraging

 

                WHEREAS,
the Board of Directors is authorized in Section 13 of the TCF Directors
Deferred Compensation Plan (the “Plan”) to amend such Plan from time to time;
and

 

                WHEREAS,
the TCF Directors Deferred Compensation Trust (the “Trust”) provides in section
12 that it may be amended by a written instrument signed by the Company and the
Trustee;

 

                NOW,
THEREFORE, IT IS HEREBY

 

Plan Amendment

 

RESOLVED, that the Plan is hereby amended to add the following
paragraph 3.d.:

 

e.               Leveraging.

 

A             Director
may direct borrowing on behalf of the Director’s account pursuant to directions
of the Committee, as follows.  All
shares of TCF Stock acquired with the proceeds of such borrowing shall be
deemed to be pledged to secure the repayment of such loan and any shares of TCF
Stock so pledged shall be held in suspense (unallocated) in the Director’s
Account pursuant to this paragraph d. 
Shares held in suspense (unallocated) under this paragraph d shall be
treated as follows:  (i) they shall not
be credited to the balance of the Director’s Account and shall not be
distributed or distributable to the Director, whether as part of a distribution
pursuant to section 5 of this Plan or otherwise, during any time when they are
pledged; (ii) they shall not be used for any other purpose than the repayment
of principal and/or interest payments as they come due on the deemed loan
entered into in connection with the purchase of such shares; and (iii) they
shall not in any event be credited to or inure to the benefit of any other
Director’s Account in the Plan. 
Dividends paid on shares held in suspense shall be credited to the
Director’s Account and invested in TCF Stock or in other assets as the Director
shall direct, to 

 

1

 

the extent such dividends exceed then-current
amounts of principal and interest due on the deemed loan.  Once the deemed loan is repaid in full, all
TCF Stock held in suspense shall be immediately allocated to the Director’s
Account.  In the event the Director has
a distribution of his or her entire Account balance or entire remaining Account
balance in the Plan while there are still shares held in suspense, the Company
shall deduct a sufficient number of the shares of TCF Stock from the balance
held in suspense in order to repay the balance due on the loan in full and the
remainder of the shares held in suspense, if any, shall be released from the
pledge, allocated to the Director’s Account and included in the
distribution.  Notwithstanding the
foregoing, the Company may elect to release from suspense any shares of TCF
Stock held in suspense under this paragraph d prior to complete repayment of
the deemed loan and in such event the administrator of the Plan shall
thereafter immediately allocate such shares to the Director’s Account and shall
increase the balance thereof as provided in paragraph b of this section.

 

Trust Amendment

 

FURTHER RESOLVED, that a new paragraph (b) is
added to section 5 of the Trust, as follows:

 

(c)            In addition to the powers provided to the
Trustee otherwise, the Trustee shall have the power, at the direction of the
Committee to borrow money from any person (including, but not limited to, TCF
Financial, its successor, assigns or affiliates) and to pledge assets of the
Trust Fund as security for repayment of any such loan.  Any money which is borrowed by the Trustee
at the direction of the Committee for the purpose of purchasing investments
directed by a participant shall be repaid only from the assets of the trust
related to such participant’s account and the Trustee shall pledge only the
assets of such participant’s account as collateral for the loan.  Loan repayments shall be deemed to be
expenses incurred in connection with the making and administering of Trust
investments.

 

Approval
of Leveraging

 

FURTHER
RESOLVED, that the Board of Directors and the Independent Sub-Committee of the
Personnel Committee of the Board hereby approve leveraging of accounts in the
Directors Plan under the following terms:

 

-                    Each director will have the choice
of whether or not to leverage.

-                    Purchases to begin as soon as
current quiet period is over.

-                    Purchase Price of no more than $43
per share.

-                    Loan interest rate of 6.625%
(annual)

-                    Loan Term 5 years, first payment
December 1, 2001

-                    Loan Repayment through dividends

-                    Total releveraging of no more than
25,000 shares, maximum total principal loan amount $850,000;

 

 

2

 

 

FURTHER
RESOLVED, that the Board of Directors and the Independent Sub-Committee hereby
direct the Trustee under section 5(b) of the Trust, The First National Bank in
Sioux Falls, to borrow on behalf of the Trust accounts in the amounts necessary
to fund the borrowings elected by directors and to execute all documents as
directed to carry out the intent and purpose of this Resolution and the Trustee
shall be fully indemnified and held harmless by this Corporation for any
related loss to the Trustee, which shall include, but without limitation, any
adverse tax consequences and any liabilities, fines, costs or expenses rising
under any securities law, banking law, or other law applicable with respect to
such direction and such actions taken in good faith in reliance on and in
furtherance of carrying out any direction by the Committee or the Corporation
related to or in connection with this Resolution and to effect this Resolution;
and

 

                FURTHER RESOLVED, that William
A. Cooper, Gregory J. Pulles, and Neil W. Brown, or any one of them, is hereby
authorized and directed to take all actions and to execute all documents on
behalf of this Corporation as they or any of them shall determine to be
necessary or advisable to carry out the intent and purpose of this Resolution,
including, but not limited to, liquidating assets, disbursing funds and
otherwise implementing the provisions of this Resolution;

 

 

Gregory J. Pulles, Secretary of TCF Financial
Corporation do hereby certify that the foregoing is a true and correct copy of
a Unanimous Written Action by the Board of Directors of TCF Financial
Corporation dated October 10, 2001 and that the Action has not been modified or
rescinded as of the date hereof.

 

	
  (Corporate Seal)

  	
   

  
	
   

  	
  /s/ Gregory J. Pulles

  
	
   

  	
  Gregory
  J. Pulles

  
	
  Dated: January 22, 2002

  	
   

  

 

 

3<PAGE>

                                                                    EXHIBIT 4.1

                                 CSX CORPORATION

                      Action of Authorized Pricing Officers

                                  March 5, 2002

     1. Pursuant to (i) Section 301 of the Indenture dated as of August 1, 1990
between CSX Corporation (the "Corporation") and JPMorgan Chase Bank, formerly
The Chase Manhattan Bank, as trustee (the "Trustee"), as supplemented by the
First Supplemental Indenture dated as of June 15, 1991, the Second Supplemental
Indenture dated as of May 6, 1997, the Third Supplemental Indenture dated as of
April 22, 1998 and the Fourth Supplemental Indenture dated as of October 30,
2001 (the indenture, as so supplemented, is herein called the "Indenture"), and
(ii) resolutions duly adopted by the Board of Directors of the Corporation at
meetings duly called and held on May 1, 2001 and December 12, 2001, the
undersigned officers hereby establish a series (as that term is used in Section
301 of the Indenture) of Securities to be issued under the Indenture, which
series of Securities shall have the terms set forth in the Prospectus and the
Prospectus Supplement attached as Exhibit A (collectively, the "Prospectus") and
such other or different terms as may be set forth herein. The title of the
Securities shall be the 6.30% Notes due 2012 (the "Notes"). Terms used herein
and not defined shall have the meaning assigned to them in the Indenture or the
Prospectus.

     2. The form and terms of the Notes substantially in the form of Exhibit B
attached hereto are hereby approved under the Indenture; and the Chairman of the
Board, President and Chief Executive Officer, any Vice Chairman, any Executive
Vice President, any Senior Vice President, any Vice President, the Assistant
Vice President-Corporate Treasury, the Vice President, General Counsel and
Corporate Secretary or any Assistant Corporate Secretary of the Corporation are,
and each of them with full power to act without the others hereby is,
authorized, in the name and on behalf of the Corporation, to execute, manually
or by facsimile signature, and in the manner provided in the Indenture, the
Notes (and, in addition, to replace lost, stolen, mutilated or destroyed Notes,
all as provided in the Indenture) substantially in the form approved hereby, in
both temporary and definitive form, with such changes, modifications and
insertions therein as the officer executing the Notes shall determine, such
determination to be conclusively evidenced by the execution thereof by such
officer, all in the manner and form required in, or contemplated by, the
Indenture.

     3. The signatures of the officers of the Corporation so authorized to
execute the Notes may, but need not be, the facsimile signatures of the current
or any future such authorized officers imprinted or otherwise reproduced
thereon, the Corporation for such purpose hereby adopting such facsimile
signatures as binding upon it, notwithstanding that at the time any Notes shall
be authenticated and delivered or disposed of any officer so signing shall have
ceased to be such authorized officer.

     4. The form, terms and provisions of the Indenture are hereby ratified and
approved.

<PAGE>

     5. The form, terms and provisions of the Underwriting Agreement, dated
March 5, 2002 (the "Underwriting Agreement"), between the Corporation and the
Underwriters named on Schedule I thereto, providing for the issuance and sale of
the Notes are hereby approved; and the Chairman of the Board, President and
Chief Executive Officer, any Vice Chairman, any Executive Vice President, any
Senior Vice President, any Vice President, the Assistant Vice
President-Corporate Treasury, the Vice President, General Counsel and Corporate
Secretary, any General Counsel or Assistant General Counsel, or any Assistant
Corporate Secretary of the Corporation are, and each of them with full power to
act without the others hereby is, authorized and directed to execute and
deliver, in the name and on behalf of the Corporation, the Underwriting
Agreement with such changes therein as the officer of the Corporation executing
the Underwriting Agreement shall approve, the execution thereof by such officer
to be conclusive evidence of such approval.

     6. The form and terms of the Prospectus are hereby approved.

     7. The Chairman of the Board, President and Chief Executive Officer, any
Vice Chairman, any Executive Vice President, any Senior Vice President, any Vice
President, the Assistant Vice President-Corporate Treasury, the Vice President,
General Counsel and Corporate Secretary, any General Counsel or Assistant
General Counsel, or any Assistant Corporate Secretary of the Corporation are,
and each of them with full power to act without the others hereby is, authorized
and empowered to take all actions, and to execute and deliver any and all
documents, in the name and on behalf of this Corporation as such officer or
officers shall deem necessary or appropriate to effect or otherwise carry out
the foregoing.

     8. Any and all actions heretofore or hereafter taken by any officer or
officers of the Corporation within the terms of the foregoing, including without
limitation, the filing of a registration statement and amendments, supplements
and addenda thereto with the Securities and Exchange Commission with respect to
the Notes and other securities which may be issued pursuant to the Indenture,
are hereby ratified and confirmed as the act of the Corporation.

     9. The Notes may be authenticated by the Trustee and issued in accordance
with the Indenture.

<PAGE>

Dated as of the date first set forth above.

                                 By:     /s/ John W. Snow
                                         ---------------------------------------
                                 Name:   John W. Snow

                                 Title:  Chairman, President and Chief Executive
                                         Officer

                                 By:     /s/ David A.Boor
                                         ---------------------------------------
                                 Name:   David A. Boor
                                 Title:  Vice President and Treasurer

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