Document:

Exhibit 10(l)

SECRETARIAL CERTIFICATION

INDEPENDENT SUBCOMMITTEE

OF THE

PERSONNEL/SHAREHOLDER RELATIONS COMMITTEE

OF

TCF FINANCIAL CORPORATION

October 22, 2001

*************************************************************************

                Following
discussion, and upon motion duly made, seconded and carried, the following
resolutions were adopted:

APPENDIX B

DISTRIBUTION PROCEDURES 

(10-03-01)

 

Covered
Plans.  These
Procedures have been adopted as Appendices to the following plans: Executive,
Senior Officer, and Winthrop Deferred Compensation Plans and Supplemental
Employees Retirement Plan (“SERP”) - 401-k Plan Portion.

 

Timing
of Distribution (Lump Sum vs. Installment).  As elected by the employee at the time of
joining the plan.  Superceding elections
may be made at any time up to one year prior to distribution.

•                    Lump Sum — 30 days after
“distribution event” (usually, termination of employment).

•                    Installments — First installment is
30 days after distribution event. 
Subsequent installments on February 15th of each succeeding
year.  Each installment amount is
determined by multiplying the account balance on 12/31 of previous year by a
fraction of 1/number of remaining installments.

 

Form
of Distribution — Stock or Cash

 

	
  If Your Account is 100% TCF Stock.

  	
   

  	
  If Your Account Contains both TCF Stock and Diversified Account.

  	
   

  	
  If Your Account is 100% Diversified Account.

  
	
  The
  distribution will be settled entirely in whole shares of TCF Stock (plus cash
  for any fractional share).

  	
   

  	
  Automatic Method — Cash first, then pro rata:
  The distribution will be deducted first from any cash/money market
  balances in your plan account, then pro
  rata  from TCF Stock and
  Diversified Plan Account balances. TCF Stock portion will be made in whole
  shares of TCF Stock (with cash for any fractional share).  Diversified Account portion will be paid
  in cash equal to its value on February 15th.

  	
   

  	
  Automatic Method — Cash first, then pro rata:
  The distribution will be deducted first from any cash/money market
  balances in your plan account, then pro
  rata from the deemed investments in your Diversified Account. The
  distribution will be paid in cash equal to the value on February 15th
  of the deemed investments from which it was deducted.

  

 

 

1

 

 

	
   

  	
  Alternative Elections: 1. You may direct the deemed sale of
  non-TCF stock assets to provide cash for the distribution.  2. You may specifically designate the
  assets to apply to the distribution. (Example:  You specify 100% of the distribution will come from the
  Diversified Account).

  	
   

  	
  Alternative Elections: 1. You may direct the deemed sale of
  assets to provide cash for the distribution. 
  2. You may specifically designate the assets to apply to the
  distribution. (Example:  You specify
  100% of the distribution will come from one particular investment in the
  Diversified Account).

  
	
   

  	
  Election Deadline: December 31 of the
  previous year.

  	
   

  	
  Election Deadline: December 31 of the
  previous year.

  

 

Tax
Withholding 

 

	
  Automatic Method of Withholding — Net Pro rata Against the
  Distribution: The minimum required withholding
  (28% federal plus applicable state percentage) will be deducted from each
  part of the distribution on a pro rata basis by type of asset.  Valuation for both the income reported and
  the withholding will be based on deemed sale price of the investment on
  February 15th.

  	
   

  	
  Alternative Election — Pay by Check: You may elect to pay the withholding by
  check.  TCF Legal will calculate the
  amount due on February 15th based on average market values on that
  date. TCF Legal must receive check before the distribution will be forwarded
  to you.

  	
   

  	
  Alternative Election — Specify Netting: You may elect to
  net the withholding against the distribution on some basis other than pro
  rata.  (Example:  You specify that 100% of withholding will
  come from the Diversified Account portion of the distribution.)

  
	
   

  	
   

  	
  Election Deadline — December 31 of the
  previous year.

  	
   

  	
  Election Deadline — December 31 of the
  previous year.

  

 

•                    Distributions will be sent by U.S.
Mail to your home address on file with the TCF Legal Department unless you have
provided other delivery instructions in writing.  If you have a stock brokerage account, distributions can be sent
to it on a same day basis.

 

•                    These procedures are subject to
interpretation and application by the company, whose interpretation is final.

 

 

2

 

 

I, Gregory J. Pulles, Secretary of  TCF Financial Corporation do hereby certify
that the foregoing is a true and correct copy of excerpt of minutes of the Personnel/Shareholder
Relations Committee TCF Financial Corporation meeting held on October 22, 2001
and that the minutes have not been modified or rescinded as of the date hereof.

 

(Corporate Seal)

 

 

Dated: 
December 12, 2001

                                                                                                /s/
Gregory J. Pulles                             

                                                                                                Gregory J. Pulles

 

 

 

3Exhibit 10(r)

 

SECRETARIAL CERTIFICATIONOF 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.:

 

d.              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 the
extent such dividends exceed then-current amounts of principal and interest due

 

1

 

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:

 

(b)           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

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00034-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00034-of-00352.parquet"}]]