Document:

EX-10.5

 Exhibit 10.5 

FORM OF INDEMNIFICATION AGREEMENT 

(Delaware corporation) 

This Indemnification Agreement (this “Agreement”), made and entered into as of the      day of
            , 2014, by and between Citizens Financial Group, Inc., a Delaware corporation (the “Company”) and
                     (“Indemnitee”). 

W I T N E S S E T H: 
 WHEREAS,
highly competent persons have become more reluctant to serve publicly-held corporations as directors or in other capacities unless they are provided with adequate protection through insurance or adequate indemnification against risks of claims and
actions against them arising out of their service to and activities on behalf of the corporation. 
 WHEREAS, the Board of Directors
of the Company (the “Board”) has determined that, in order to attract and retain qualified individuals, the Company will attempt to maintain on an ongoing basis, at its sole expense, liability insurance to protect persons serving
the Company and its subsidiaries from certain liabilities. Although the furnishing of such insurance has been a customary and widespread practice among United States-based corporations and other business enterprises, the Company believes that, given
current market conditions and trends, such insurance may be available to it in the future only at higher premiums and with more exclusions. At the same time, directors, officers, and other persons in service to corporations or business enterprises
are being increasingly subjected to expensive and time-consuming litigation relating to, among other things, matters that traditionally would have been brought only against the Company or business enterprise itself. 

WHEREAS, the Amended and Restated Certificate of Incorporation (the “Certificate of Incorporation”) of the Company
provides that the Company shall indemnify and advance expenses to all directors and officers of the Company in the manner set forth therein and to the fullest extent permitted by applicable law, and the Company’s Certificate of Incorporation
provides for limitation of liability for directors and officers. In addition, Indemnitee may be entitled to indemnification pursuant to the General Corporation Law of the State of Delaware (“DGCL”) . The Certificate of Incorporation
and the DGCL expressly provide that the indemnification provisions set forth therein are not exclusive, and thereby contemplate that contracts may be entered into between the Company and members of the board of directors, officers and other persons
with respect to indemnification. 

  
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 WHEREAS, the uncertainties relating to such insurance and to indemnification have increased the
difficulty of attracting and retaining such persons. 
 WHEREAS, the Board has determined that the increased difficulty in attracting and
retaining such persons is detrimental to the best interests of the Company’s stockholders and that the Company should act to assure such persons that there will be increased certainty of such protection in the future. 

WHEREAS, it is reasonable, prudent and necessary for the Company contractually to obligate itself to indemnify, and to advance expenses on
behalf of, such persons to the fullest extent permitted by applicable law so that they will serve or continue to serve the Company free from undue concern that they will not be so indemnified. 

WHEREAS, this Agreement is a supplement to and in furtherance of the Certificate of Incorporation, the Company’s Amended and Restated
Bylaws and any resolutions adopted pursuant thereto and shall not be deemed a substitute therefor, nor to diminish or abrogate any rights of Indemnitee thereunder. 

WHEREAS, Indemnitee does not regard the protection available under the Company’s Certificate of Incorporation and insurance as adequate
in the present circumstances, and may not be willing to serve as an officer or director of the Company without adequate protection, and the Company desires Indemnitee to serve in such capacity. Indemnitee is willing to serve, continue to serve and
to take on additional service for or on behalf of the Company on the condition that he be so indemnified. 
 NOW, THEREFORE, in
consideration of the premises and the covenants contained herein, the Company and Indemnitee do hereby covenant and agree as follows: 

ARTICLE 1 
 CERTAIN
DEFINITIONS 
 (a) As used in this Agreement: 

“Change of Control” means any one of the following circumstances occurring after the date hereof: (i) there shall have
occurred an event required to be reported with respect to the Company in response to Item 6(e) of Schedule 14A of Regulation 14A (or in response to any similar item or any similar schedule or form) under the Exchange Act, regardless of whether
the Company is then subject to such reporting requirement; (ii) any “person” or “group” (as such terms are used in Sections 13(d) and 14(d) of the Exchange Act) shall have become, without prior approval of the Company’s
Board by approval of at least a majority of the Continuing Directors, the “beneficial owner” (as defined in Rule 13d-3 under the 

  
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Exchange Act), directly or indirectly, of securities of the Company representing 50% or more of the combined voting power of the Company’s then outstanding voting securities (provided that,
for purposes of this clause (ii), the term “person” shall exclude (x) the Company, (y) any trustee or other fiduciary holding securities under an employee benefit plan of the Company, and (z) any corporation owned, directly
or indirectly, by the stockholders of the Company in substantially the same proportions as their ownership of stock of the Company); (iii) there occurs a merger or consolidation of the Company with any other entity, other than a merger or
consolidation which would result in the voting securities of the Company outstanding immediately prior to such merger or consolidation continuing to represent (either by remaining outstanding or by being converted into voting securities of the
surviving entity) more than 51% of the combined voting power of the voting securities of the surviving entity outstanding immediately after such merger or consolidation and with the power to elect at least a majority of the board of directors or
other governing body of such surviving entity; (iv) all or substantially all the assets of the Company are sold or disposed of in a transaction or series of related transactions; (v) the approval by the stockholders of the Company of a
complete liquidation of the Company; or (vi) the Continuing Directors cease for any reason to constitute at least a majority of the members of the Board. 

“Continuing Director” means (i) each director on the Board on the date hereof or (ii) any new director whose
election or nomination for election by the Company’s stockholders was approved by a vote of at least a majority of the directors then still in office who were directors on the date hereof or whose election or nomination was so approved.

 “Corporate Status” means the status of a person who is or was a director, officer, trustee, general partner,
managing member, fiduciary, board of directors’ committee member, employee or agent of the Company or of any other Enterprise. 

“Disinterested Director” means a director of the Company who is not and was not a party to the Proceeding in respect
of which indemnification is sought by Indemnitee. 
 “Enterprise” means the Company and any other
corporation, limited liability company, partnership, joint venture, trust, employee benefit plan or other enterprise of which Indemnitee is or was serving at the request of the Company as a director, officer, trustee, general partner, managing
member, fiduciary, board of directors’ committee member, employee or agent. 
 “ERISA” means the Employee
Retirement Income Security Act of 1974, as amended. 
 “Exchange Act” means the Securities Exchange Act of 1934, as
amended. 

  
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 “Expenses” means all direct and indirect costs (including attorneys’
fees, retainers, court costs, transcripts, fees of experts, witness fees, travel expenses, duplicating costs, printing and binding costs, telephone charges, postage, delivery service fees, and all other disbursements or expenses) reasonably incurred
in connection with (i) prosecuting, defending, preparing to prosecute or defend, investigating, being or preparing to be a witness in, or otherwise participating in, a Proceeding or (ii) establishing or enforcing a right to indemnification
under this Agreement, the Company’s Certificate of Incorporation, applicable law or otherwise. Expenses also shall include Expenses incurred in connection with any appeal resulting from any Proceeding, including the premium, security for, and
other costs relating to any cost bond, supersede as bond, or other appeal bond or its equivalent. For the avoidance of doubt, Expenses, however, shall not include any Liabilities. 

“Independent Counsel” means a law firm, or a member of a law firm, that is experienced in matters of corporate law and
neither currently is, nor in the three years previous to its selection or appointment has been, retained to represent (i) the Company or Indemnitee in any matter material to either such party (other than with respect to matters concerning
Indemnitee under this Agreement or of other indemnitees under similar indemnification agreements) or (ii) any other party to the Proceeding giving rise to a claim for indemnification hereunder. Notwithstanding the foregoing, the term
“Independent Counsel” shall not include any person who, under the applicable standards of professional conduct then prevailing, would have a conflict of interest in representing either the Company or Indemnitee in an action to determine
Indemnitee’s rights under this Agreement. 
 “Liabilities” means any losses or liabilities, including
any judgments, fines, ERISA excise taxes and penalties, penalties and amounts paid in settlement, arising out of or in connection with any Proceeding (including all interest, assessments and other charges paid or payable in connection with or in
respect of any such judgments, fines, ERISA excise taxes and penalties, penalties or amounts paid in settlement). 

“Proceeding” means any threatened, pending or completed action, derivative action, suit, claim, counterclaim, cross
claim, arbitration, alternate dispute resolution mechanism, investigation, inquiry, administrative hearing or any other actual, threatened or completed proceeding, whether civil (including intentional and unintentional tort claims), criminal,
administrative or investigative, including any appeal therefrom, and whether instituted by or on behalf of the Company or any other party, in which Indemnitee was, is or will be involved as a party, potential party, non-party witness or otherwise by
reason of any Corporate Status of Indemnitee, or by reason of any action taken (or failure to act) by him or her or of any action (or failure to act) on his or her part while serving in any Corporate Status. 

  
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 (b) For the purposes of this Agreement: 

References to “Company” shall include, in addition to the resulting or surviving corporation, any constituent corporation (including
any constituent of a constituent) absorbed in a consolidation or merger which, if its separate existence had continued, would have had power and authority to indemnify its directors, officers, employees or agents, so that if Indemnitee is or was a
director, officer, employee, or agent of such constituent corporation or is or was serving at the request of such constituent corporation as a director, officer, employee, or agent of another corporation, partnership, joint venture, trust or other
enterprise, then Indemnitee shall stand in the same position under the provisions of this Agreement with respect to the resulting or surviving corporation as Indemnitee would have with respect to such constituent corporation if its separate
existence had continued. 
 Reference to “other enterprise” shall include employee benefit plans; references to “fines”
shall include any excise tax assessed with respect to any employee benefit plan; references to “serving at the request of the Company” shall include any service as a director, officer, employee or agent of the Company which imposes duties
on, or involves services by, such director, officer, employee or agent with respect to an employee benefit plan, its participants or beneficiaries; and a person who acted in good faith and in a manner he reasonably believed to be in the best
interests of the participants and beneficiaries of an employee benefit plan shall be deemed to have acted in a manner “not opposed to the best interests of the Company” as referred to in this Agreement. 

Reference to “including” shall mean “including, without limitation,” regardless of whether the words “without
limitation” actually appear, references to the words “herein,” “hereof” and “hereunder” and other words of similar import shall refer to this Agreement as a whole and not to any particular paragraph, subparagraph,
section, subsection or other subdivision. 
 ARTICLE 2 

SERVICES BY INDEMNITEE 

Section 2.01. Services By Indemnitee. Indemnitee hereby agrees to serve or continue to serve, at the will of the Company
(in the case of an officer), as a director or officer of the Company, for so long as Indemnitee is duly elected or appointed or until Indemnitee tenders his or her resignation or is removed. This Agreement shall not constitute an employment
agreement, supersede any employment agreement to which Indemnitee is a party or create any right of Indemnitee to continue employment or appointment.  

  
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 ARTICLE 3 

INDEMNIFICATION 

Section 3.01. General. (a) The Company hereby agrees to and shall indemnify Indemnitee and hold Indemnitee harmless
from and against any and all Expenses and Liabilities, in either case, actually and reasonably incurred by Indemnitee or on Indemnitee’s behalf by reason of Indemnitee’s Corporate Status, to the fullest extent permitted by applicable law.
The Company’s indemnification obligations set forth in this Section 3.01 shall apply (i) in respect of Indemnitee’s past, present and future service in any Corporate Status and (ii) regardless of whether Indemnitee is
serving in any Corporate Status at the time any such Expense or Liability is incurred. 
 For purposes of this Agreement, the meaning
of the phrase “to the fullest extent permitted by applicable law” shall include, but not be limited to: 
 (i) to
the fullest extent permitted by any provision of the DGCL, or the corresponding provision of any successor statute, and 

(ii) to the fullest extent authorized or permitted by any amendments to or replacements of the DGCL adopted after the date of
this Agreement that increase the extent to which a corporation may indemnify its officers and directors. 
 (b) Witness
Expenses. Notwithstanding any other provision of this Agreement, to the extent that Indemnitee is, by reason of his or her Corporate Status, a witness in any Proceeding to which Indemnitee is not a party, he shall be indemnified against all
Expenses actually and reasonably incurred by Indemnitee or on his or her behalf in connection therewith. 
 (c) Expenses as
a Party Where Wholly or Partly Successful. Notwithstanding any other provisions of this Agreement, to the fullest extent permitted by applicable law, to the extent that Indemnitee is a party to (or a participant in) and is successful, on the
merits or otherwise, in any Proceeding or in defense of any claim, issue or matter therein, in whole or in part, the Company shall indemnify Indemnitee against all Expenses actually and reasonably incurred by him or her in connection therewith. If
Indemnitee is not wholly successful in such Proceeding, but is successful, on the merits or otherwise, as to one or more but less than all claims, issues or matters in such Proceeding, the Company shall, to the fullest extent permitted by applicable
law, indemnify Indemnitee against all Expenses actually and reasonably incurred by Indemnitee or on his or her behalf in connection with each successfully resolved claim, issue or matter. For purposes of this Section and without limitation, the
termination of any claim, issue or matter in such a Proceeding by dismissal, with or without prejudice, shall be deemed to be a successful result as to such claim, issue or matter. 

  
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 Section 3.02. Exclusions. Notwithstanding any provision of this Agreement and
unless Indemnitee ultimately is successful on the merits with respect to any such claim, the Company shall not be obligated under this Agreement to make any indemnity in connection with any claim made against Indemnitee: 

(a) for (i) an accounting of profits made from the purchase and sale (or sale and purchase) by Indemnitee of securities of the
Company within the meaning of Section 16(b) of the Exchange Act or similar provisions of state statutory law or common law or (ii) any reimbursement of the Company by Indemnitee of any bonus or other incentive-based or equity-based
compensation or of any profits realized by Indemnitee from the sale of securities of the Company, as required in each case under the Exchange Act (including any such reimbursements that arise from an accounting restatement of the Company pursuant to
Section 304 of the Sarbanes-Oxley Act of 2002 (the “Sarbanes-Oxley Act”), or the payment to the Company of profits arising from the purchase and sale by Indemnitee of securities in violation of Section 306 of the
Sarbanes-Oxley Act); or 
 (b) except as otherwise provided in Section 6.01(e), prior to a Change of Control, in connection with
any Proceeding (or any part of any Proceeding) initiated by Indemnitee (other than any cross claim or counterclaim asserted by the Indemnitee), including any Proceeding (or any part of any Proceeding) initiated by Indemnitee against the Company or
its directors, officers, employees or other indemnitees, unless (i) the Board authorized the Proceeding (or any part of any Proceeding) prior to its initiation or (ii) the Company provides the indemnification, in its sole discretion,
pursuant to the powers vested in the Company under applicable law. 
 ARTICLE 4 

ADVANCEMENT OF EXPENSES; DEFENSE OF CLAIMS 

Section 4.01. Advances. Notwithstanding any provision of this Agreement to the contrary, the Company shall advance any
Expenses actually and reasonably incurred by Indemnitee in connection with any Proceeding within thirty (30) days after the receipt by the Company of each statement requesting such advance from time to time, whether prior to or after final
disposition of any Proceeding. Advances shall be unsecured and interest free. Advances shall be made without regard to Indemnitee’s ability to repay such amounts and without regard to Indemnitee’s ultimate entitlement to indemnification
under the other provisions of this Agreement. Advances shall include any and all reasonable Expenses incurred pursuing an action to enforce this right of advancement, including Expenses incurred preparing and forwarding statements to the Company to
support the advances claimed.  

  
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 Section 4.02. Repayment of Advances or Other Expenses. Indemnitee agrees that
Indemnitee shall reimburse the Company for all Expenses advanced by the Company pursuant to Section 4.01, in the event and only to the extent that it shall be determined by final judgment or other final adjudication under the provisions of any
applicable law (as to which all rights of appeal therefrom have been exhausted or lapsed) that Indemnitee is not entitled to be indemnified by the Company for such Expenses. 

Section 4.03. Defense of Claims. The Company shall be entitled to assume the defense of any Proceeding with counsel
consented to by Indemnitee (such consent not to be unreasonably withheld) upon the delivery by the Company to Indemnitee of written notice of the Company’s election to do so. After delivery of such notice, consent to such counsel by Indemnitee
and the retention of such counsel by the Company, the Company will not be liable to Indemnitee under this Agreement for any fees or expenses of counsel subsequently incurred by Indemnitee with respect to such Proceeding; provided that
(i) Indemnitee shall have the right to employ separate counsel in respect of any Proceeding at Indemnitee’s expense and (ii) if (A) the employment of counsel by Indemnitee has been previously authorized in writing by the Company
or (B) Indemnitee shall have reasonably concluded upon the advice of counsel that there is a conflict of interest between the Company and Indemnitee in the conduct of the defense of such Proceeding, then in each such case the fees and expenses
of Indemnitee’s counsel shall be at the Company’s expense. The Company shall not settle any action, claim or Proceeding (in whole or in part) which would impose any Expense, judgment, fine, penalty or limitation on Indemnitee without
Indemnitee’s prior written consent, such consent not to be unreasonably withheld. Indemnitee shall not settle any action, claim or Proceeding (in whole or in part) which would impose any Expense, judgment, fine, penalty or limitation on the
Company without the Company’s prior written consent, such consent not to be unreasonably withheld. 
 ARTICLE 5 

PROCEDURES FOR NOTIFICATION OF AND DETERMINATION
OF ENTITLEMENT TO INDEMNIFICATION 
 Section 5.01. Notification; Request
For Indemnification. (a) As soon as reasonably practicable after receipt by Indemnitee of written notice that he is a party to or a participant (as a witness or otherwise) in any Proceeding or of any other matter in respect of which
Indemnitee intends to seek indemnification or advancement of Expenses hereunder, Indemnitee shall provide to the Company written notice thereof, including the nature of and the facts underlying the Proceeding. The omission by Indemnitee to so notify
the Company will not relieve the Company from any liability which it may have to Indemnitee hereunder or otherwise unless and to the extent that (i) none of the Company and its subsidiaries are party to or aware of such Proceeding and
(ii) the Company is materially prejudiced by such failure. 

  
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 (b) To obtain indemnification under this Agreement, Indemnitee shall deliver to the Company a
written request for indemnification, including therewith such information as is reasonably available to Indemnitee and reasonably necessary to determine Indemnitee’s entitlement to indemnification hereunder. Such request(s) may be delivered
from time to time and at such time(s) as Indemnitee deems appropriate in his or her sole discretion. Indemnitee’s entitlement to indemnification shall be determined according to Section 5.02 of this Agreement and applicable law. 

Section 5.02. Determination of Entitlement. (a) Where there has been a written request by Indemnitee for indemnification
pursuant to Section 5.01(b), then as soon as is reasonably practicable (but in any event not later than 60 days) after final disposition of the relevant Proceeding, a determination, if required by applicable law, with respect to
Indemnitee’s entitlement thereto shall be made in the specific case: (i) if a Change of Control shall not have occurred, (A) by a majority vote of the Disinterested Directors, even though less than a quorum of the Board, (B) by a
committee of Disinterested Directors designated by a majority vote of the Disinterested Directors, even though less than a quorum of the Board, (C) if there are no such Disinterested Directors or, if such Disinterested Directors so direct, by
Independent Counsel in a written opinion to the Board, a copy of which shall be delivered to Indemnitee; or (ii) if a Change of Control shall have occurred, by Independent Counsel in a written opinion to the Board, a copy of which shall be
delivered to Indemnitee. If it is so determined that Indemnitee is entitled to indemnification, payment to Indemnitee shall be made within ten (10) days after such determination. Indemnitee shall reasonably cooperate with the person, persons or
entity making such determination with respect to Indemnitee’s entitlement to indemnification, including providing to such person, persons or entity upon reasonable advance request any documentation or information which is not privileged or
otherwise protected from disclosure and which is reasonably available to Indemnitee and reasonably necessary to such determination. Any costs or expenses (including attorneys’ fees and disbursements) actually and reasonably incurred by
Indemnitee in so cooperating with the person, persons or entity making such determination shall be borne by the Company (irrespective of the determination as to Indemnitee’s entitlement to indemnification). 

(b) If entitlement to indemnification is to be determined by Independent Counsel pursuant to Section 5.02(a)(ii), such Independent
Counsel shall be selected by Indemnitee, and Indemnitee shall give written notice to the Company advising it of the identity of the Independent Counsel so selected. If entitlement to indemnification is to be determined by Independent Counsel
pursuant to Section 5.02(a)(i)(C) (or if Indemnitee requests that such selection be made by the Board), such Independent Counsel shall be selected by the Company in which case the Company shall give written notice to Indemnitee advising him or
her of the identity of the Independent Counsel so selected. In either event, Indemnitee 

  
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or the Company, as the case may be, may, within 10 days after such written notice of selection shall have been received, deliver to the Company or to Indemnitee, as the case may be, a written
objection to such selection; provided, however, that such objection may be asserted only on the ground that the Independent Counsel so selected does not meet the requirements of “Independent Counsel” as defined in Section 1 of this
Agreement, and the objection shall set forth with particularity the factual basis of such assertion. Absent a proper and timely objection, the person so selected shall act as Independent Counsel. If such written objection is so made and
substantiated, the Independent Counsel so selected may not serve as Independent Counsel unless and until such objection is withdrawn or a court of competent jurisdiction has determined that such objection is without merit. If, within 20 days after
the later of submission by Indemnitee of a written request for indemnification pursuant to Section 5.01(b) hereof and the final disposition of the Proceeding, no Independent Counsel shall have been selected and not objected to, either the
Company or Indemnitee may petition a court of competent jurisdiction for resolution of any objection which shall have been made by the Company or Indemnitee to the other’s selection of Independent Counsel and/or for the appointment as
Independent Counsel of a person selected by the court or by such other person as the court shall designate, and the person with respect to whom all objections are so resolved or the person so appointed shall act as Independent Counsel under
Section 5.02(a) hereof. Upon the due commencement of any judicial proceeding or arbitration pursuant to Section 6.01(a) of this Agreement, the Independent Counsel shall be discharged and relieved of any further responsibility in such
capacity (subject to the applicable standards of professional conduct then prevailing). 
 (c) The Company agrees to pay the reasonable fees
and expenses of any Independent Counsel serving under this Agreement. 
 Section 5.03. Presumptions and Burdens of Proof;
Effect of Certain Proceedings. (a) In making any determination with respect to entitlement to indemnification hereunder, the person or persons or entity making such determination shall, to the fullest extent not prohibited by law, presume
that Indemnitee is entitled to indemnification under this Agreement if Indemnitee has submitted a request for indemnification in accordance with Section 5.01(b) of this Agreement, and the Company shall, to the fullest extent not prohibited by
law, have the burden of proof to overcome that presumption in connection with the making by any person, persons or entity of any determination contrary to that presumption. Neither the failure of any person, persons or entity to have made a
determination prior to the commencement of any action pursuant to this Agreement that indemnification is proper in the circumstances because Indemnitee has met the applicable standard of conduct, nor an actual determination by any person, persons or
entity that Indemnitee has not met such applicable standard of conduct, shall be a defense to the action or create a presumption that Indemnitee has not met the applicable standard of conduct. 

  
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 (b) If the person, persons or entity empowered or selected under Section 5.02 of this
Agreement to determine whether Indemnitee is entitled to indemnification shall not have made a determination within the sixty (60) day period referred to in Section 5.02(a), the requisite determination of entitlement to indemnification
shall, to the fullest extent not prohibited by law, be deemed to have been made and Indemnitee shall be entitled to such indemnification, absent (i) a misstatement by Indemnitee of a material fact, or an omission of a material fact necessary to
make Indemnitee’s statement not materially misleading, in connection with the request for indemnification, or (ii) a prohibition of such indemnification under applicable law; provided, however, that such 60-day period may be
extended for a reasonable time, not to exceed an additional thirty (30) days, if the person, persons or entity making the determination with respect to entitlement to indemnification in good faith requires such additional time for the obtaining
or evaluating of documentation and/or information relating thereto. 
 (c) The termination of any Proceeding or of any claim, issue
or matter therein, by judgment, order, settlement or conviction, or upon a plea of nolo contendere or its equivalent, shall not (except as otherwise expressly provided in this Agreement) of itself adversely affect the right of Indemnitee to
indemnification or create a presumption that Indemnitee did not act in good faith and in a manner which he reasonably believed to be in or not opposed to the best interests of the Company or, with respect to any criminal Proceeding, that Indemnitee
had reasonable cause to believe that his or her conduct was unlawful. 
 (d) For purposes of any determination of good faith, Indemnitee
shall be deemed to have acted in good faith if Indemnitee’s action is in good faith reliance on the records or books of account of any Enterprise, including financial statements, or on information supplied to Indemnitee by the officers of such
Enterprise in the course of their duties, or on the advice of legal counsel for such Enterprise or on information or records given or reports made to such Enterprise by an independent certified public accountant or by an appraiser or other expert
selected by such Enterprise. The provisions of this Section 5.03(d) shall not be deemed to be exclusive or to limit in any way the other circumstances in which Indemnitee may be deemed or found to have met the applicable standard of conduct set
forth in this Agreement. 
 (e) The knowledge and/or actions, or failure to act, of any other director, trustee, partner, managing member,
fiduciary, officer, agent or employee of any Enterprise shall not be imputed to Indemnitee for purposes of determining any right to indemnification under this Agreement. 

  
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 ARTICLE 6 

REMEDIES OF INDEMNITEE 

Section 6.01. Adjudication or Arbitration. (a) In the event of any dispute between Indemnitee and the Company
hereunder as to entitlement to indemnification or advancement of Expenses (including where (i) a determination is made pursuant to Section 5.02 of this Agreement that Indemnitee is not entitled to indemnification under this Agreement,
(ii) advancement of Expenses is not timely made pursuant to Section 4.01 of this Agreement, (iii) payment of indemnification pursuant to Section 3.01 of this Agreement is not made within ten (10) days after a determination
has been made that Indemnitee is entitled to indemnification, (iv) no determination as to entitlement to indemnification is timely made pursuant to Section 5.02 of this Agreement and no payment of indemnification is made within ten
(10) days after entitlement is deemed to have been determined pursuant to Section 5.03(b)) or (v) a contribution payment is not made in a timely manner pursuant to Section 8.04 of this Agreement, then Indemnitee shall be entitled
to an adjudication by a court of his or her entitlement to such indemnification, contribution or advancement. Alternatively, in such case, Indemnitee, at his or her option, may seek an award in arbitration to be conducted by a single arbitrator
pursuant to the Commercial Arbitration Rules of the American Arbitration Association. The Company shall not oppose Indemnitee’s right to seek any such adjudication or award in arbitration. 

(b) In the event that a determination shall have been made pursuant to Section 5.02(a) of this Agreement that Indemnitee is not
entitled to indemnification, any judicial proceeding or arbitration commenced pursuant to this Section 6.01 shall be conducted in all respects as a de novo trial, or arbitration, on the merits, and Indemnitee shall not be prejudiced by
reason of that adverse determination. In any judicial proceeding or arbitration commenced pursuant to this Section 6.01 the Company shall have the burden of proving Indemnitee is not entitled to indemnification or advancement of Expenses, as
the case may be, and the Company may not refer to or introduce into evidence any determination pursuant to Section 5.02(a) of this Agreement adverse to Indemnitee for any purpose. If Indemnitee commences a judicial proceeding or arbitration
pursuant to this Section 6.01, Indemnitee shall not be required to reimburse the Company for any advances pursuant to Section 4.02 until a final determination is made with respect to Indemnitee’s entitlement to indemnification (as to
which all rights of appeal have been exhausted or lapsed). 
 (c) If a determination shall have been made pursuant to
Section 5.02(a) of this Agreement that Indemnitee is entitled to indemnification, the Company shall be bound by such determination in any judicial proceeding or arbitration commenced pursuant to this Section 6.01, absent (i) a
misstatement by Indemnitee of a material fact, or an omission of a material fact necessary to make Indemnitee’s statement not materially misleading, in connection with the request for indemnification, or (ii) a prohibition of such
indemnification under applicable law. 

  
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 (d) The Company shall be precluded from asserting in any judicial proceeding or arbitration
commenced pursuant to this Section 6.01 that the procedures and presumptions of this Agreement are not valid, binding and enforceable and shall stipulate in any such court or before any such arbitrator that the Company is bound by all the
provisions of this Agreement. 
 (e) The Company shall indemnify Indemnitee to the fullest extent permitted by law against all Expenses and,
if requested by Indemnitee, shall (within thirty (30) days after the Company’s receipt of such written request) advance such Expenses to Indemnitee, which are reasonably incurred by Indemnitee in connection with any judicial proceeding or
arbitration brought by Indemnitee for (i) indemnification or advances of Expenses by the Company (or otherwise for the enforcement, interpretation or defense of his or her rights) under this Agreement or any other agreement, including any other
indemnification, contribution or advancement agreement, or any provision of the Company’s Certificate of Incorporation or By-laws now or hereafter in effect or (ii) recovery or advances under any directors’ and officers’
liability insurance policy maintained by the Company, regardless of whether Indemnitee ultimately is determined to be entitled to such indemnification, contribution, advancement or insurance recovery, as the case may be. 

ARTICLE 7 

DIRECTORS’ AND OFFICERS’ LIABILITY INSURANCE 

Section 7.01. D&O Liability Insurance. The Company shall obtain and maintain a policy or policies of insurance
(“D&O Liability Insurance”) with reputable insurance companies providing liability insurance for directors and officers of the Company in their capacities as such (and for any capacity in which any director or officer of the
Company serves any other Enterprise at the request of the Company), in respect of acts or omissions occurring while serving in such capacity, on terms with respect to coverage and amount (including with respect to the payment of Expenses) no less
favorable than those of such policy in effect on the date hereof. 
 Section 7.02. Evidence of Coverage. Upon request by
Indemnitee, the Company shall provide copies of all policies of D&O Liability Insurance obtained and maintained in accordance with Section 7.01 of this Agreement. The Company shall promptly notify Indemnitee of any changes in such insurance
coverage. 

  
 13 

 ARTICLE 8 

MISCELLANEOUS 

Section 8.01. Nonexclusivity of Rights. The rights of indemnification, contribution and advancement of Expenses as provided
by this Agreement shall not be deemed exclusive of any other rights to which Indemnitee may at any time be entitled to under applicable law, the Company’s Certificate of Incorporation, the Company’s Amended and Restated Bylaws, any
agreement, a vote of stockholders or a resolution of directors, or otherwise. No right or remedy herein conferred is intended to be exclusive of any other right or remedy, and every other right and remedy shall be cumulative and in addition to every
other right and remedy given hereunder or now or hereafter existing at law or in equity or otherwise. The assertion or employment of any right or remedy hereunder, or otherwise, shall not prevent the concurrent assertion or employment of any other
right or remedy. 
 Section 8.02. Insurance and Subrogation. (a) Indemnitee shall be covered by the
Company’s D&O Liability Insurance in accordance with its or their terms to the maximum extent of the coverage available for any director or officer under such policy or policies. If, at the time the Company receives notice of a claim
hereunder, the Company has director and officer liability insurance in effect, the Company shall give prompt notice of such Proceeding to the insurers in accordance with the procedures set forth in the respective policies. The Company shall
thereafter take all necessary or desirable action to cause such insurers to pay, on behalf of Indemnitee, all amounts payable as a result of such Proceeding in accordance with the terms of such policies. The failure or refusal of any such insurer to
pay any such amount shall not affect or impair the obligations of the Company under this Agreement. 
 (b) In the event of any
payment under this Agreement, the Company shall be subrogated to the extent of such payment to all of the rights of recovery of Indemnitee, who shall execute all papers required and take all action necessary to secure such rights, including
execution of such documents as are necessary to enable the Company effectively to bring suit to enforce such rights. 
 (c) The Company
shall not be liable under this Agreement to make any payment of amounts otherwise indemnifiable (or for which advancement is provided) hereunder if and to the extent that Indemnitee has actually received such payment under any insurance policy or
other indemnity provision. 
 Section 8.03 The Company’s obligation to indemnify or advance Expenses hereunder to Indemnitee who
is or was serving at the request of the Company as a director, officer, trustee, partner, managing member, fiduciary, board of directors’ committee member, employee or agent of any other Enterprise shall be reduced by any amount Indemnitee has
actually received as indemnification or advancement of Expenses from such Enterprise. 

  
 14 

 Section 8.04. Contribution. To the fullest extent permissible under applicable
law, if the indemnification provided for in this Agreement is unavailable to Indemnitee for any reason whatsoever, the Company, in lieu of indemnifying Indemnitee, shall contribute to the amount incurred by Indemnitee, whether for judgments, fines,
penalties, excise taxes, amounts paid or to be paid in settlement and/or for Expenses, in connection with any claim relating to an indemnifiable event under this Agreement, in such proportion as is deemed fair and reasonable in light of all of the
circumstances of such Proceeding in order to reflect (i) the relative benefits received by the Company and Indemnitee as a result of the event(s) and/or transaction(s) giving rise to such Proceeding; and/or (ii) the relative fault of the
Company (and its directors, officers, employees and agents) and Indemnitee in connection with such event(s) and/or transaction(s). 

Section 8.05. Amendment. This Agreement may not be modified or amended except by a written instrument executed by or on
behalf of each of the parties hereto. No amendment, alteration or repeal of this Agreement or of any provision hereof shall limit, restrict or reduce any right of Indemnitee under this Agreement in respect of any act or omission, or any event
occurring, prior to such amendment, alteration or repeal. To the extent that a change in applicable law, whether by statute or judicial decision, (i) permits greater indemnification, contribution or advancement of Expenses than would be
afforded currently under the Company’s Certificate of Incorporation and this Agreement, it is the intent of the parties hereto that Indemnitee shall enjoy by this Agreement the greater benefits so afforded by such change or (ii) limits
rights with respect to indemnification, contribution or advancement of Expenses, it is the intent of the parties hereto that the rights with respect to indemnification, contribution or advancement of Expenses in effect prior to such change shall
remain in full force and effect to the extent permitted by applicable law.  
 Section 8.06. Waivers. The
observance of any term of this Agreement may be waived (either generally or in a particular instance and either retroactively or prospectively) by the party entitled to enforce such term only by a writing signed by the party against which such
waiver is to be asserted. Unless otherwise expressly provided herein, no delay on the part of any party hereto in exercising any right, power or privilege hereunder shall operate as a waiver thereof, nor shall any waiver on the part of any party
hereto of any right, power or privilege hereunder operate as a waiver of any other right, power or privilege hereunder nor shall any single or partial exercise of any right, power or privilege hereunder preclude any other or further exercise thereof
or the exercise of any other right, power or privilege hereunder. 
 Section 8.07. Entire Agreement. This
Agreement and the documents referred to herein constitute the entire agreement between the parties hereto with respect to the matters covered hereby, and any other prior or contemporaneous oral or written understandings or agreements with respect to
the matters covered hereby are superseded by this Agreement, provided that this Agreement is a supplement to and in furtherance of the Certificate of Incorporation and By-laws of the Company and applicable law, and shall not be deemed a substitute
therefor, nor to diminish or abrogate any rights of Indemnitee thereunder. 

  
 15 

 Section 8.08. Severability. If any provision or provisions of this Agreement
shall be held to be invalid, illegal or unenforceable for any reason whatsoever: (a) the validity, legality and enforceability of the remaining provisions of this Agreement (including each portion of any Section of this Agreement containing any
such provision held to be invalid, illegal or unenforceable, that is not itself invalid, illegal or unenforceable) shall not in any way be affected or impaired thereby and shall remain enforceable to the fullest extent permitted by law;
(b) such provision or provisions shall be deemed reformed to the extent necessary to conform to applicable law and to give the maximum effect to the intent of the parties hereto; and (c) to the fullest extent possible, the provisions of
this Agreement (including each portion of any Section of this Agreement containing any such provision held to be invalid, illegal or unenforceable, that is not itself invalid, illegal or unenforceable) shall be construed so as to give effect to the
intent manifested thereby. 
 Section 8.09. Notices. All notices, requests, demands and other communications under
this Agreement shall be in writing (which may be by facsimile transmission). All such notices, requests and other communications shall be deemed received on the date of receipt by the recipient thereof if received prior to 5:00 p.m. in the place of
receipt and such day is a business day in the place of receipt. Otherwise, any such notice, request or communication shall be deemed not to have been received until the next succeeding business day in the place of receipt. The address for notice to
a party is as shown on the signature page of this Agreement, or such other address as any party shall have given by written notice to the other party as provided above.  

Section 8.10. Binding Effect. (a) The Company expressly confirms and agrees that it has entered into this Agreement
and assumed the obligations imposed on it hereby in order to induce Indemnitee to serve as a director or officer of the Company, and the Company acknowledges that Indemnitee is relying upon this Agreement in serving as a director or officer of the
Company. 
 (b) This Agreement shall be binding upon and inure to the benefit of and be enforceable by the parties hereto and their
respective successors, assigns, including any direct or indirect successor by purchase, merger, consolidation or otherwise to all or substantially all of the business and/or assets of the Company, spouses, heirs, and executors, administrators,
personal and legal representatives. The Company shall require and cause any successor (whether direct or indirect by purchase, merger, consolidation or otherwise) to all or substantially all, or a substantial part of the business or assets of the
Company, by written agreement in form and substance satisfactory to Indemnitee, expressly to assume and agree to perform this Agreement in the manner and to the same extent that the Company would be required to perform if no such succession had
taken place. 

  
 16 

 (c) The indemnification, contribution and advancement of Expenses provided by, or granted
pursuant to this Agreement shall continue as to a person who has ceased to be a director or officer and shall inure to the benefit of the heirs, executors, administrators, legatees and assigns of such a person. 

Section 8.11. Governing Law. This Agreement and the legal relations among the parties shall be governed by, and construed
and enforced in accordance with, the laws of the State of Delaware, without regard to its conflict of laws rules. 

Section 8.12. Consent To Jurisdiction. Except with respect to any arbitration commenced by Indemnitee pursuant to
Section 6.01(a) of this Agreement, the Company and Indemnitee hereby irrevocably and unconditionally (i) agree that any action or proceeding arising out of or in connection with this Agreement shall be brought only in the Chancery Court of
the State of Delaware (the “Delaware Court”), and not in any other state or federal court in the United States of America or any court in any other country, (ii) consent to submit to the exclusive jurisdiction of
the Delaware Court for purposes of any action or proceeding arising out of or in connection with this Agreement, (iii) waive any objection to the laying of venue of any such action or proceeding in the Delaware Court, and (iv) waive, and
agree not to plead or to make, any claim that any such action or proceeding brought in the Delaware Court has been brought in an improper or inconvenient forum. 

Section 8.13. Headings. The Article and Section headings in this Agreement are for convenience of reference only, and shall
not be deemed to alter or affect the meaning or interpretation of any provisions hereof. 
 Section 8.14.
Counterparts. This Agreement may be executed in one or more counterparts, each of which shall for all purposes be deemed to be an original but all of which together shall constitute one and the same Agreement. Only one such counterpart signed by
the party against whom enforceability is sought needs to be produced to evidence the existence of this Agreement. 

Section 8.15. Use of Certain Terms. As used in this Agreement, the words “herein,” “hereof,” and
“hereunder” and other words of similar import refer to this Agreement as a whole and not to any particular paragraph, subparagraph, section, subsection, or other subdivision. Whenever the context may require, any pronoun used in this
Agreement shall include the corresponding masculine, feminine or neuter forms, and the singular form of nouns, pronouns and verbs shall include the plural and vice versa. 

  
 17 

 IN WITNESS WHEREOF, this Agreement has been duly executed and delivered to be effective as of the
date first above written. 
  

			
	CITIZENS FINANCIAL GROUP, INC.
		
	By:	 	  

		 	Name:
		 	Title:
	
	Address:
	Facsimile:
	Attention:
	
	With a copy to:
	
	Address:
	Facsimile:
	Attention:

  

	
	INDEMNITEE
	
	  

	
	Address:
	Facsimile:
	
	With a copy to:
	
	Address:
	Facsimile:
	Attention:

  
 18EX-10.37

 EXHIBIT 10.37 

SUPPLEMENTAL RETIREMENT AGREEMENT 

THIS SUPPLEMENTAL RETIREMENT AGREEMENT dated as of the 31st day of October, 1995
(but effective as of the Effective Date) by and between CHARTER ONE FINANCIAL, INC., its successors and assigns (the “Company”) and CHARLES J. KOCH (the “Executive”). 

WITNESSETH: 

WHEREAS, the Executive is a member of the senior management team of the Company whose duties will become more demanding and whose
responsibilities will be expanded by virtue of the combination between the Company and FirstFed Michigan Corporation (“FirstFed”) and their respective savings bank subsidiaries; 

WHEREAS, the Executive has heretofore performed his duties in an exemplary and efficient manner, resulting in the substantial growth,
success and profitability of the Company and its subsidiaries; 
 WHEREAS, the Company wishes to provide the Executive with
supplemental retirement benefits commensurate with his executive duties on behalf of the Company and its subsidiaries, as well as comparable to the non-qualified retirement benefits of like kind provided to similarly situated executives with
comparable responsibilities, duties and functions; and 
 WHEREAS, the Company believes that the supplemental retirement benefits to
be provided to the Executive pursuant to this Agreement will induce continued service by the Executive with the Company, which continued service is deemed essential for the future growth and success of the Company and its subsidiaries after its
combination with FirstFed. 

 NOW, THEREFORE, in consideration of the premises and intending to be legally bound hereby,
the Company and the Executive hereby agree as follows: 
  

	 	1.	Definitions. 

 In this Agreement, the following words and phrases shall have the
following meanings: 
 (a) Accrued Benefit Percentage shall mean .25% for each of the first 60 calendar quarters that the
Executive has heretofore been or is hereinafter employed by the Company any of its subsidiaries (or any predecessors or successors thereto by merger or purchase) plus .875% for each calendar quarter of employment thereafter, calculated through the
last day of the calendar quarter in which the Executive (i) experiences a Separation from Service or (ii) attains Normal Retirement Age, whichever shall first occur. There shall be no duplication of the Accrued Benefit Percentage for
service with more than one employer. 
 (b) Administrator shall mean the person or committee appointed by the Board of
Directors of the Company to administer this Agreement. 
 (c) Average Compensation shall mean the amount determined as of the
Benefit Commencement Date by dividing by 36 the total monetary compensation earned by the Executive from the Company and its subsidiaries (or any predecessors or successors thereto by merger or purchase), including but not limited to salary, bonuses
and incentive compensation (but excluding specifically stock based compensation, including but not limited to restructured stock, stock options and stock appreciation rights) during the 3 annual periods (whether or not consecutive) that results in
the largest total. An annual period shall consist of any 12 month consecutive period. 

  
 - 2 - 

 (d) Benefit Commencement Date shall mean the last day of the calendar month
following the earliest of (i) Normal Retirement Age, (ii) the date the Executive attains (or but for his death would have attained) age 65 if prior thereto he experiences a Separation from Service for Cause, (iii) the date of the
Executive’s Separation from Service without Cause provided the Executive is then age 58 or older, (iv) the date the Executive attains (or but for his death would have attained) the age of 58 years if he experiences a Separation from
Service without Cause prior to his attaining age 58 or (v) 6 months after the date of death of the Executive if he dies while employed by the Company. 

(e) Cause shall mean a Separation from Service that arises from a “Termination for Cause” (as such term is defined in
the written employment agreement (the “Employment Agreement”) between the Company and the Executive of even date herewith). 

(f) Effective Date shall mean the date that FirstFed is merged into the Company. 

(g) Monthly Benefit shall mean the Average Compensation multiplied by the Accrued Benefit Percentage; provided, however, in no
event will the Monthly Benefit exceed $33,333.00. 
 (h) Normal Retirement Age shall mean the date the Executive attains or
but for his death would have attained age 65. 
 (i) Separation from Service shall mean the date of cessation of the
employment relationship between the Executive and the Company and its subsidiaries (including any successor in interest, if applicable). 

(j) Spouse shall mean the person to whom the executive is married immediately prior to his death. 

  
 - 3 - 

	 	2.	Payment of Benefits. 

 (a) During the Life of the Executive. 

If the Executive is living on the Benefit Commencement Date, the Company shall pay to him the Monthly Benefit on each of the Benefit
Commencement Date and on the last day of each calendar month thereafter during his lifetime. 
 (b) Following the Death of the
Executive. 
 (i) If the Executive is not living on the Benefit Commencement Date but the Spouse is then living, the Company shall
pay to the Spouse 50% of the Monthly Benefit on each of the Benefit Commencement Date and the last day of each calendar month thereafter during the lifetime of the Spouse, or 

(ii) If the Executive dies after the Benefit Commencement Date and is survived by the Spouse, the Company shall pay to the Spouse 50% of the
Monthly Benefit on each of the last day of the calendar month next following the death of the Executive and the last day of each calendar month thereafter during the lifetime of the Spouse, and 

(iii) After the death of both the Executive and the Spouse, no amounts will be payable under this Agreement other than previously due amounts
which were not paid and any amount payable for the calendar month that death occurred. 
  

	 	3.	Miscellaneous. 

 (a) Withholding. To the extent amounts payable
under this Agreement are determined by the Administrator, in good faith, to be subject to federal, state or local income tax, the Company may withhold from each such payment an amount necessary to meet the employer’s obligation to withhold
amounts under the applicable federal, state or local law. 

  
 - 4 - 

 (b) General Assets and Funding. The amounts payable under this Agreement are
payable from the general assets of the Company and no special fund or arrangement is intended to be established hereby nor shall the Company be required to earmark, place in trust or otherwise segregate assets with respect to this Agreement or any
benefits hereunder. The Administrator reserves the right to determine how the Company will fund its obligation undertaken by this Agreement. Should the Administrator elect to fund this Agreement, in whole or in part, through the medium of life
insurance or annuities, or both, the Company shall be the owner and beneficiary of the policy. The Company reserves the absolute right, in its sole discretion, to terminate such life insurance or annuities, as well as any other funding program, at
any time, in whole or in part. Such termination shall in no way affect the Company’s obligation to pay the Executive and Spouse as provided in this Agreement. At no time shall the Executive or Spouse be deemed to have any right, title, or
interest in or to any specific asset or assets of the Company, including but not by way of restriction, any insurance or annuity contract and contracts or the proceeds therefrom. 

(c) Governing Law. This Agreement shall be construed under the laws of the State of Ohio, without regard to its principles of
conflict of laws. 
 (d) Future Employment. This Agreement shall not be construed as providing the Executive the right to be
continued in the employ of the Company or its subsidiaries; and the terms and conditions of his employment are the subject of the Employment Agreement which shall control the employment relationship. 

(e) No Pledge or Attachment. No benefit which is or may become payable under this Agreement shall be subject to any
anticipation, alienation, sale, transfer, pledge, encumbrance or hypothecation or subject to any attachment, levy or similar process and any attempt to effect any such action shall be null and void. 

  
 - 5 - 

 (f) Amendment of Agreement. This Agreement may be amended, in whole or in
part, only upon the mutual written agreement of the Company and the Executive. 
 (g) Binding Effect. This Agreement and the
obligations of the Company herein shall be binding upon the successors and assigns of the Company. The Spouse shall be deemed a beneficiary of this Agreement. 

(h) Participation in Plans. Nothing contained in this Agreement shall be construed to alter, abridge, or in any manner affect
the rights and privileges of the Executive to participate in and be covered by any pension, profit sharing, group insurance, bonus, incentive, or other employee plans which the Company or its subsidiaries may now or hereafter have. 

(i) No Rights Prior to Effective Date. This Agreement shall become effective on the Effective Date if the Executive is employed
by the Company on such date. Until the Effective Date or earlier termination of this Agreement as provided herein, this Agreement shall remain executory in nature. In the event the Executive experiences a Separation from Service prior to the
Effective Date or that certain Agreement and Plan of Merger dated May 30, 1995 between the Company and FirstFed is terminated, in either such event, this Agreement shall thereupon cease, determine and terminate. 

(j) Termination of Salary Continuation Agreement. If this Agreement becomes effective on the Effective Date, then that certain
Salary Continuation Agreement between the Executive and First Federal Savings Bank (now known as “Charter One Bank, F.S.B.” by name change) dated as of January 1,1987 shall thereupon terminate and be replaced by this Agreement. 

  
 - 6 - 

 The parties have caused this Agreement to be executed and delivered as of the date first above
written. 
  

			
	CHARTER ONE FINANCIAL, INC.
		
	By:	 	 /s/ John D. Koch

		 	John D. Koch
		 	Executive Vice President
	
	EXECUTIVE
	
	 /s/ Charles J. Koch

	Charles J. Koch

  
 - 7 - 

 AMENDMENT 1 TO SUPPLEMENTAL RETIREMENT 

AGREEMENT 
 This Amendment 1 to
Supplemental Retirement Agreement dated as of this 3RD day of May, 1996, by and between Charter One Financial, Inc., its successors and assigns (the “Company”) and Charles John Koch (the
“Executive”) for the purpose of modifying and amending that certain Supplemental Retirement Agreement between the parties dated as of October 31,1995 (the “SRA”). 

WITNESSETH 
 In consideration of the Company
entering into a Split-Dollar Agreement (the “Death Benefit Agreement”) with the Executive on even date herewith, the parties have agreed to modify and amend the SRA in the following manner: 

 

	1.	Notwithstanding anything contained in Section l(d)(v) of the SRA or otherwise in the SRA, in the event of the death of the Executive while employed by the Company or any of its affiliates under circumstances in which a
beneficiary of the Executive or his/her estate is entitled to death proceeds (a) in accordance with the Death Benefit Agreement (including any amendments or modifications hereinafter made thereto with the written consent of the Executive) or
(b) under any other written agreement between the Company and the Executive that replaces the Death Benefit Agreement, then in that event, neither the Executive nor his/her spouse will be entitled to any benefits under the SRA.

  

	2.	Except as modified and amended herein, the SRA shall remain in full force and effect. 

 The parties have caused
this Amendment to be executed and delivered as of the date first above herein written. 
  

			
	CHARTER ONE FINANCIAL, INC.
		
	By:	 	 /s/ ROBERT J. VANA

		 	Authorized Officer
	
	EXECUTIVE
	
	 /s/ CHARLES J. KOCH

	CHARLES J. KOCH

  
 - 8 - 

 AMENDMENT 2 TO SUPPLEMENTAL RETIREMENT AGREEMENT 

This Amendment 2 to Supplemental Retirement Agreement (this “Amendment”) dated as of this      day of July, 2002
(but effective March 20, 2001), by and between Charter One Financial, Inc., its successors and assigns (the “Company”) and Charles J. Koch (the “Executive”) for the purpose of modifying and amending that certain
Supplemental Retirement Agreement between the parties dated as of October 31,1995, as amended pursuant to Amendment 1 thereto dated as of May 3,1996 (the “SRA”). 

WITNESSETH: 
 The board of
directors of the Company has decided to increase the maximum monthly benefit under the SRA in light of changes in condition since the date of the SRA including, but not limited to, the substantial growth of the Company, the Executive’s
contribution to such growth, and the inadequacy, as of the effective date of this Amendment, of the maximum monthly benefit currently provided in the SRA. In addition, the Company and the Executive have, on even date herewith, entered into a Fully
Restated Split Dollar Agreement (the “Death Benefit Agreement”) which necessitates a change to the SRA. 
 NOW, THEREFORE, in
consideration of the foregoing, and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows: 

1. Notwithstanding anything contained in Section l(d)(v) of the SRA or otherwise in the SRA, in the event of the death of the Executive under
circumstances in which a beneficiary of the Executive or his estate is entitled to death proceeds (a) under any life insurance policy or policies maintained pursuant to the Death Benefit Agreement (including any amendments or modifications) or
(b) under any other written agreement between the Company and the Executive that replaces the Death Benefit Agreement, then in that event, neither the Executive nor his/her spouse will be entitled to any benefits under the SRA. 

2. Section 1(g) of the SRA is hereby amended and fully restated as follows: 

“(g) Monthly Benefit shall mean the Average Compensation multiplied by the Accrued Benefit Percentage;
provided, however, in no event will the Monthly Benefit exceed $45,000.00.” 
 3. Except as modified and amended herein, the SRA shall
remain in full force and effect. 
 The parties have caused this Amendment to be executed and delivered as of the date first above herein
written. 
  

			
	CHARTER ONE FINANCIAL, INC.
		
	 By:
  
	 	 /s/ ROBERT J. VANA

		 	Authorized Officer
	
	EXECUTIVE
	
	 /s/ CHARLES J. KOCH

	CHARLES J. KOCH

  
 - 9 - 

 [CHARLES J. KOCH] 

AMENDMENT 3 TO SUPPLEMENTAL RETIREMENT AGREEMENT 

This Amendment 3 to Supplemental Retirement Agreement (this “Amendment”) dated as of this      day of December,
2003 by and between Charter One Financial, Inc., its successors and assigns (the “Company”) and Charles J. Koch (the “Executive’’) for the purpose of modifying and amending that certain Supplemental Retirement Agreement
between the parties dated as of October 31, 1995, as amended pursuant to Amendments 1 and 2 thereto dated as of May 3,1996, and July     , 2002, respectively (the “SRA”). 

WITNESSETH: 
 To induce the
Executive to continue his employment with the Company, the board of directors of the Company has decided to increase the monthly benefit under the SRA based upon his continued employment commitment to the Company. This Amendment provides an enhanced
supplemental retirement benefit to the Executive by increasing the Accrued Benefit Percentage under Section l(a)(ii) of the SRA and by increasing the dollar cap of the Monthly Benefit from $45,000 to up to $73,125 under Section 1(g) of the SRA
(collectively, the “Enhanced SRA Benefit”). The Company is providing the Enhanced SRA Benefit to the Executive as part and parcel of the 2004 Senior Executive Retention Plan of the Company which also includes a deferred compensation
benefit to be provided by the Company to the Executive pursuant to the Company’s 2004 Senior Executive Deferred Compensation Plan (the ‘‘2004 Senior Executive DCP”) and the Executive’s associated 2004 Senior Executive
Deferred Compensation Plan Agreement (the “Executive’s DCP Plan Agreement”). 
 NOW, THEREFORE, in consideration of the
foregoing, and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows: 

1. Section 1(a) of the SRA is hereby amended and fully restated as follows: 

“(a) Accrued Benefit Percentage shall mean the aggregate of (i) .25% for each of the first 60 calendar
quarters that the Executive has heretofore been or is hereinafter employed by the Company, any of its subsidiaries (or any predecessors or successors thereto by merger or purchase) plus .875% for each calendar quarter of employment thereafter,
calculated through the last day of the calendar quarter in which the Executive (A) experiences a Separation from Service or (B) attains Normal Retirement Age, whichever shall first occur; plus (ii) subject to the forfeiture
provisions of Section 3(k) below, 25% if the Executive is employed by the Company or any of its subsidiaries (or any successors thereto by merger or purchase) on December 31, 2008 or experiences a Separation from Service For Good Reason or
Without Cause prior to January 1, 2009; provided however, in no event shall the Accrued Benefit Percentage exceed 70%. There shall be duplication of the Accrued Benefit Percentage for service with more than one employer.” 

  
 - 10 - 

 2. Section 1 (b) of the SRA is hereby amended and fully restated as follows: 

“Benefit Commencement Date shall mean the last day of the calendar month following the earliest of
(i) Normal Retirement Age, (ii) the date the Executive attains (or but for his death would have attained) age 65 if prior thereto he experiences a Separation from Service for Cause, (iii) the date of the Executive’s Separation from
Service for any reason other than Cause provided the Executive is then age 58 or older, (iv) the date the Executive attains (or but for his death would have attained) the age of 58 years if he experiences a Separation from Service for any
reason other than Cause prior to his attaining age 58 or (v) 6 months after the date of death of the Executive if he dies while employed by the Company or any of its subsidiaries (or any successors thereto by merger or purchase).” 

3. Section 1(c) of the SRA is hereby amended and fully restated as follows: 

“(c) Cause shall mean a Separation from Service by action of the Company or any of its subsidiaries (or any
successor by merger or purchase) (i) due to the Executive’s dishonesty, incompetence, willful misconduct, breach of fiduciary duty involving personal profit, intentional failure to perform stated duties, willful violation of any law, rule
or regulation (excluding violations which do not have an adverse effect on the Company or Charter One Bank, N.A. (or any successors thereto by merger or purchase)), or material breach of any provision of his written employment agreement with the
Company which results in a Termination for Cause under such employment agreement; or (ii) after the Executive is subject to a final cease-and-desist order or is suspended or temporarily or permanently prohibited from participation in the
conduct of the affairs of the Company or any of its subsidiaries (or any successors by merger or purchase) by a governmental or regulatory authority.” 

4. Section 1 (g) of the SRA is hereby amended and fully restated as follows: 

“(g) Monthly Benefit shall mean the Average Compensation multiplied by the Accrued Benefit Percentage.
Notwithstanding the foregoing, (i) the Monthly Benefit shall not exceed $45,000 if the Executive (A) experiences a Separation from Service prior to January 1, 2009 for any reason other than For Good Reason or Without Cause, or
(B) forfeits the Enhanced SRA under Section 3(k) below; or (ii) the Monthly Benefit shall not exceed $73,125 if the Executive (x) experiences a Separation from Service For Good Reason or Without Cause prior to January 1,
2009 or a Separation from Service after December 31,2008 and (y) has not forfeited the Enhanced SRA under Section 3(k) below.” 

5. The SRA is hereby further amended by the addition of the following new Sections l(k) and (m): 

“(k) For Good Reason shall mean a Separation from Service by action of the Executive due to a material
diminution of or interference with his duties, responsibilities or benefits which constitutes an Involuntary Termination (as defined in the Executive’s written employment agreement with the Company) by action of the Executive. 

  
 - 11 - 

 (l) Without Cause shall mean a Separation from Service by action of
the Company or any of its subsidiaries (or any successors thereto by merger or purchase), but specifically excluding a Separation from Service for Cause or on account of the disability of the Executive.” 

6. The SRA is hereby further amended by the addition of the following new Section 3(k),: 

“(k) Forfeiture of the Enhanced Benefit. If the Executive forfeits his Vested Account Balance (as such term
is defined in the 2004 Senior Executive DCP) pursuant to the terms of Section 6.2 or 6.3 of the 2004 Senior Executive DCP, then in any such event, the Executive shall likewise forfeit the Enhanced SRA Benefit and any rights of the Executive to
the Enhanced SRA Benefit shall cease and terminate (i.e. the Executive shall not be entitled to the benefit provided in Section l(a)(ii) or a Monthly Benefit in excess of $45,000). The 2004 Senior Executive DCP and the Executive’s DCP Plan
Agreement are hereby incorporated herein by reference. If the Executive commences receiving the Enhanced SRA Benefit and subsequently forfeits the Enhanced SRA Benefit as provided above, then the Executive shall be obligated to return to the Company
the cumulative amount of the Enhanced SRA Benefit previously paid to the Executive.” 
 7. Except as modified and amended herein, the
SRA shall remain in full force and effect. 
 The parties have caused this Amendment to be executed and delivered as of the date first above
herein written. 
  

			
	CHARTER ONE FINANCIAL, INC.
		
	By:	 	  

		 	Authorized Officer
	
	EXECUTIVE
	
	  

	CHARLES J. KOCH

  
 - 12 -

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