Document:

Exhibit 10(c)

 

SECRETARIAL CERTIFICATION OF

RESOLUTIONS ADOPTED BY THE

PERSONNEL COMMITTEE OF THE

BOARD OF DIRECTORS OF

TCF FINANCIAL CORPORATION

 

May 3, 2002

 

Re:                             Amendment of Executive

Deferred Compensation Plan to Allow Election to Receive Current Payment of TCF

Stock Dividends.

 

Following discussion, and upon motion duly made,

seconded and carried, the following resolutions were adopted:

 

WHEREAS, this Committee is authorized to amend the TCF Financial

Executive Deferred Compensation Plan (the “Plan”); and

 

WHEREAS, this Committee considers it advisable to amend the Plan to

allow participants whose deferred compensation is invested in TCF stock to

elect to receive current distributions of the dividends paid on such stock;

 

NOW, THEREFORE, it is hereby:

 

RESOLVED, that the Plan is hereby amended by adding a new clause (v) at

the end of subparagraph 10.b. thereof, to read as follows:

 

“(v)         Notwithstanding

anything herein to the contrary, an Employee may elect to receive a current

distribution of dividends that would otherwise be credited to the Employee’s

TCF Stock Account.  Such elections shall

be made in such form and at such time or times, and shall apply to such

dividends, as the Committee shall determine; provided, that in no event

shall an election be effective if it is received by the Committee:

 

(A)          more than 30 days after the date on

which the amendment adding this clause (v) is adopted, if the election relates

to dividends declared in calendar year 2002 after the expiration of such 30-day

period; otherwise

 

(B)           after December 31 of the calendar

year preceding the calendar year in which the dividends to which the election

relates are declared.

 

Except as provided in paragraph 6 hereof, an election

to receive a current distribution of dividends shall be irrevocable upon its

receipt by the Committee, and it shall apply to all dividends that are declared

in the calendar year(s) (or portion thereof) to which the election

applies.  Dividends with respect to

which an election described in this paragraph 10.b.v. has been made shall be

distributed to the Employee as soon as administratively feasible after they

would otherwise have been credited to the Employee’s Account.”

 

This amendment shall be effective with respect to dividends that are

declared more than 30 days after the date on which the amendment is adopted.

 

I, Gregory J. Pulles, Secretary of TCF Financial

Corporation, do hereby certify that the foregoing is a true and correct copy of

a resolution adopted by the Personnel Committee of the Board of Directors of

TCF Financial Corporation held on May 3, 2002, and that such resolution has not

been modified or rescinded as of the date hereof.

 

(Corporate Seal)

 

 

	

  Dated:  June 25, 2002

  	

  /s/ Gregory J. Pulles

  
	

   

  	

  Gregory J. Pulles

  

 

 

Exhibit 10(c)

SECRETARIAL CERTIFICATION OF

RULES AND PROCEDURES ADOPTED BY THE

PERSONNEL COMMITTEE OF THE

BOARD OF DIRECTORS OF

TCF FINANCIAL CORPORATION

 

Re:                             Rules and Procedures

Governing Elections to Receive Current Payment of Dividends on TCF Stock under

the Executive and Senior Officer Deferred Compensation Plans.

 

The TCF Financial Executive and Senior Officer

Deferred Compensation Plans (the “Plans”) have been amended to allow

participants whose deferred compensation is deemed to be invested in TCF stock

to elect to receive current distributions of the dividends paid on such

stock.  The amendments authorize this

Committee to establish rules and procedures governing such elections.

 

The following rules and procedures govern elections by

participants in the Plans to receive current distributions of dividends

(“Dividend Distribution Elections”) pursuant to paragraph 10.b(v) of each Plan,

as so amended.

 

1.                                       Dividend

Distribution Elections may only be made by Plan participants who are actively

employed by a participating employer.

 

2.                                       Dividend

Distribution Elections may only be made with respect to cash dividends that are

declared after June 1, 2002, and that would otherwise be credited to the

electing participants’ TCF Stock Accounts in either Plan.

 

3.                                       Dividend

Distribution Elections must be in 10% increments of the eligible dividends.

 

4.                                       Dividend

Distribution Elections applicable to dividends that are declared after June 1,

2002 and before January 1, 2003 must be received by TCF no later than June 1,

2002.  Each such election shall be

irrevocable upon its receipt by TCF, and it shall apply to all cash dividends

that are declared after June 1, 2002 and before January 1, 2003.

 

5.                                       Dividend

Distribution Elections applicable to dividends that are declared in a calendar

year commencing after December 31, 2002 must be received by TCF prior to

January 1 of the calendar year in which the dividends are declared.  Each such election shall be irrevocable upon

its receipt by TCF, and it shall apply to all cash dividends that are declared

in the calendar year to which it applies.

 

6.                                       Except

as provided in paragraph 7, a separate Dividend Distribution Election must be

made for cash dividends that are declared in each calendar year.  If a participant does not make a Dividend

Distribution Election for a particular calendar year, all dividends that are

declared in that calendar year will be credited to the participant’s TCF Stock

Account.

 

7.                                       A

Plan participant who notifies a participating employer of his or her intent to

terminate employment, or who is notified by a participating employer that his

or her employment will be terminated, may, within 30 days after the date of

such notification, make a one-time Dividend Distribution Election with respect

to cash dividends that are declared in calendar years commencing after the

participant’s termination of employment. 

Each such election will be irrevocable (regardless of whether the

participant’s employment terminates pursuant to the notification), and it will

apply to all cash dividends that are declared in calendar years commencing

after the later of:

 

a.                                       the

date on which the election is received by TCF; or

 

b.                                      the

date on which the participant’s employment terminates.

 

These procedures are effective as of May 2, 2002, and

they will remain in effect until they are changed or revoked by further action

of the Committee.

 

I, Gregory J. Pulles, Secretary of TCF Financial

Corporation, do hereby certify that the foregoing is a true and correct copy of

rules and procedures adopted by the Personnel Committee of the Board of

Directors of TCF Financial Corporation, effective as of May 3, 2002, and that

such rules and procedures have not been changed or revoked as of the date

hereof.

 

(Corporate Seal)

 

 

	

  Dated:  June 25, 2002

  	

  /s/ Gregory J. Pulles

  
	

   

  	

  Gregory J. Pulles

  

 

 

Exhibit 10(c)

SECRETARIAL CERTIFICATION OF

RESOLUTIONS ADOPTED BY THE

PERSONNEL COMMITTEE OF THE

BOARD OF DIRECTORS OF

TCF FINANCIAL CORPORATION

AND OF AN INDEPENDENT SUBCOMMITTEE THEREOF

 

May 3, 2002

 

Re:                             “De-leveraging” of

Executive and Directors Deferred Compensation Plans.

 

Following discussion, and upon motion duly made,

seconded and carried, the following resolutions were adopted:

 

WHEREAS, this Committee administers, and is authorized to amend, the

TCF Financial Executive Deferred Compensation Plan (the “Executive Plan”), the

TCF Directors Deferred Compensation Plan (the “Directors Plan”), and their

related trusts (the “Trusts”);

 

WHEREAS, this Committee considers it advisable to amend the Executive

Plan and the Directors Plan (collectively, the “Plans”) and their related Trust

Agreements (the “Executive Trust Agreement” and the “Directors Trust

Agreement,” respectively) to eliminate the provisions therein that permit the

leveraging of investments for participants’ accounts;

 

WHEREAS, this Committee also considers it advisable to allow

participants to prepay any loans that have been made to the Trusts on their

behalf for the purpose of leveraging investments;

 

WHEREAS, approval of the sale or disposition of stock of TCF Financial

Corporation (“TCF Stock”) that is held by the Trusts and/or related Plan

interests under the Plans by a committee qualifying under SEC Rule 16b-3(c)

(the “Independent Subcommittee”) is desirable in order that the transactions

directed and authorized hereunder will qualify for exemption under such Rule;

and

 

WHEREAS, said Independent Subcommittee consists of all of the members

of this Committee, other than Mr. Strangis;

 

NOW, THEREFORE, it is hereby:

 

RESOLVED, that the Executive Plan is hereby amended by adding an

additional sentence at the end of paragraph 10.c.(I) thereof, to read as

follows:

 

“Notwithstanding the foregoing, new borrowings for the

purposes described in this clause (I) shall not be permitted after May 2,

2002.”

 

FURTHER RESOLVED, that the Directors Plan is hereby amended by adding

an additional sentence at the end of paragraph 3.d. thereof, to read as

follows:

 

“Notwithstanding the foregoing, new borrowings for the

purposes described in this subparagraph d. shall not be permitted after May 2,

2002.”

 

FURTHER RESOLVED, that the Executive Trust Agreement is hereby amended

by adding an additional sentence at the end of Section 5.1(f) thereof, to read

as follows:

 

“Notwithstanding the foregoing, new borrowings for the

purpose of purchasing investments directed by a participant shall not be

permitted after May 2, 2002.”

 

FURTHER RESOLVED, that the Directors Trust Agreement is hereby amended

by adding an additional sentence at the end of Section 5(b) thereof, to read as

follows:

 

“Notwithstanding the foregoing, new borrowings for the

purpose of purchasing investments directed by a participant shall not be

permitted after May 2, 2002.”

 

FURTHER RESOLVED, that the Independent Subcommittee hereby authorizes

the prepayment of loans that have been made to the Trusts for the purpose of

purchasing assets to fund benefits of participants, the sale or disposition of

shares of TCF Stock held by the Trusts, and the deemed sale or disposition of

corresponding derivative interests in such stock by Plan participants, all upon

the following terms:

 

1.                                       Each

participant on whose behalf a loan has been made will have a choice as to

whether to prepay the loan.

 

2.                                       Prepayment

of an electing participant’s loan will be made by liquidating a sufficient

number of the shares of TCF Stock that are pledged as collateral for the loan

and using the proceeds to repay the loan.

 

3                                          Shares

of TCF Stock that are liquidated to prepay a loan shall be offered to TCF

Financial Corporation for purchase under its stock repurchase program before

they are sold in any other manner; however, TCF Financial Corporation will be

under no obligation to purchase such stock.

 

4.                                       Subject

to the foregoing, prepayment of a loan will be made as soon as administratively

feasible following receipt by this Committee of a participant’s request.

 

5.                                       Shares

of TCF Stock that have been pledged to secure a loan, and that are not required

to repay the loan, shall be released from encumbrance and allocated to the

participant’s account when the loan has been repaid, as provided in paragraph

10.c.(I) of the Executive Plan and in paragraph 3.d. of the Directors Plan.

 

                FURTHER RESOLVED, that The First

National Bank in Sioux Falls, as Trustee under the Executive Trust Agreement

and the Directors Trust Agreement (the “Trustee”), is hereby directed to take

all actions and to execute all documents as directed to carry out the intent

and purpose of these resolutions, and the Trustee shall be fully indemnified

and held harmless by TCF Financial Corporation for any related loss to the

Trustee, which shall include, without limitation, any adverse tax consequences

and any liabilities, fines, costs or expenses arising under any securities law,

banking law, or other law applicable with respect to such directions and such

actions taken in good faith in reliance on, and in carrying out, any direction

by this Committee or TCF Financial Corporation or their delegates related to or

in connection with these resolutions; and

 

                FURTHER RESOLVED, that William

A. Cooper, Gregory J. Pulles, and Neil W. Brown, or any one or more of them,

are hereby authorized and directed to take all actions and to execute all

documents on behalf of this Committee and TCF Financial Corporation as they or

any of them shall determine to be necessary or advisable to carry out the intent

and purpose of these resolutions.

 

I, Gregory J. Pulles, Secretary of TCF Financial

Corporation, do hereby certify that the foregoing are true and correct copies

of resolutions adopted by the Personnel Committee of the Board of Directors of

TCF Financial Corporation, and an Independent Subcommittee thereof at a meeting

held on May 3, 2002, and that such resolutions have not been modified or

rescinded as of the date hereof.

 

(Corporate Seal)

 

 

	

  Dated:  June 25, 2002

  	

  /s/ Gregory J. Pulles

  
	

   

  	

  Gregory J. PullesExhibit

10(d)

 

SECRETARIAL CERTIFICATION OF

RESOLUTIONS ADOPTED BY THE

PERSONNEL COMMITTEE OF THE

BOARD OF DIRECTORS OF

TCF FINANCIAL CORPORATION

AND OF AN INDEPENDENT SUBCOMMITTEE THEREOF

 

May 3, 2002

 

Re:                             “De-leveraging” of Executive and Directors Deferred

Compensation Plans.

 

Following

discussion, and upon motion duly made, seconded and carried, the following

resolutions were adopted:

 

WHEREAS, this Committee administers, and is authorized to amend, the

TCF Financial Executive Deferred Compensation Plan (the “Executive Plan”), the

TCF Directors Deferred Compensation Plan (the “Directors Plan”), and their

related trusts (the “Trusts”);

 

WHEREAS, this Committee considers it advisable to amend the Executive

Plan and the Directors Plan (collectively, the “Plans”) and their related Trust

Agreements (the “Executive Trust Agreement” and the “Directors Trust

Agreement,” respectively) to eliminate the provisions therein that permit the

leveraging of investments for participants’ accounts;

 

WHEREAS, this Committee also considers it advisable to allow

participants to prepay any loans that have been made to the Trusts on their

behalf for the purpose of leveraging investments;

 

WHEREAS, approval of the sale or disposition of stock of TCF Financial

Corporation (“TCF Stock”) that is held by the Trusts and/or related Plan

interests under the Plans by a committee qualifying under SEC Rule 16b-3(c)

(the “Independent Subcommittee”) is desirable in order that the transactions

directed and authorized hereunder will qualify for exemption under such Rule;

and

 

WHEREAS, said Independent Subcommittee consists of all of the members

of this Committee, other than Mr. Strangis;

 

NOW, THEREFORE, it is hereby:

 

RESOLVED, that the Executive Plan is hereby amended by adding an

additional sentence at the end of paragraph 10.c.(I) thereof, to read as

follows:

 

“Notwithstanding the foregoing, new borrowings for the

purposes described in this clause (I) shall not be permitted after May 2,

2002.”

 

FURTHER RESOLVED, that the Directors Plan is hereby amended by adding

an additional sentence at the end of paragraph 3.d. thereof, to read as

follows:

 

“Notwithstanding the foregoing, new borrowings for the

purposes described in this subparagraph d. shall not be permitted after May 2,

2002.”

 

FURTHER RESOLVED, that the Executive Trust Agreement is hereby amended

by adding an additional sentence at the end of Section 5.1(f) thereof, to read

as follows:

 

“Notwithstanding the foregoing, new borrowings for the

purpose of purchasing investments directed by a participant shall not be

permitted after May 2, 2002.”

 

FURTHER RESOLVED, that the Directors Trust Agreement is hereby amended

by adding an additional sentence at the end of Section 5(b) thereof, to read as

follows:

 

“Notwithstanding the foregoing, new borrowings for the

purpose of purchasing investments directed by a participant shall not be

permitted after May 2, 2002.”

 

FURTHER RESOLVED, that the Independent Subcommittee hereby authorizes

the prepayment of loans that have been made to the Trusts for the purpose of

purchasing assets to fund benefits of participants, the sale or disposition of

shares of TCF Stock held by the Trusts, and the deemed sale or disposition of

corresponding derivative interests in such stock by Plan participants, all upon

the following terms:

 

1.                                       Each participant on whose behalf a loan

has been made will have a choice as to whether to prepay the loan.

 

2.                                       Prepayment of an electing participant’s

loan will be made by liquidating a sufficient number of the shares of TCF Stock

that are pledged as collateral for the loan and using the proceeds to repay the

loan.

 

3.                                       Shares of TCF Stock that are liquidated

to prepay a loan shall be offered to TCF Financial Corporation for purchase

under its stock repurchase program before they are sold in any other manner;

however, TCF Financial Corporation will be under no obligation to purchase such

stock.

 

4.                                       Subject to the foregoing, prepayment of a

loan will be made as soon as administratively feasible following receipt by

this Committee of a participant’s request.

 

5.                                       Shares of TCF Stock that have been

pledged to secure a loan, and that are not required to repay the loan, shall be

released from encumbrance and allocated to the participant’s account when the

loan has been repaid, as provided in paragraph 10.c.(I) of the Executive Plan

and in paragraph 3.d. of the Directors Plan.

 

                FURTHER RESOLVED, that The First

National Bank in Sioux Falls, as Trustee under the Executive Trust Agreement

and the Directors Trust Agreement (the “Trustee”), is hereby directed to take

all actions and to execute all documents as directed to carry out the intent

and purpose of these resolutions, and the Trustee shall be fully indemnified

and held harmless by TCF Financial Corporation for any related loss to the

Trustee, which shall include, without limitation, any adverse tax consequences

and any liabilities, fines, costs or expenses arising under any securities law,

banking law, or other law applicable with respect to such directions and such

actions taken in good faith in reliance on, and in carrying out, any direction

by this Committee or TCF Financial Corporation or their delegates related to or

in connection with these resolutions; and

 

                FURTHER RESOLVED, that William

A. Cooper, Gregory J. Pulles, and Neil W. Brown, or any one or more of them,

are hereby authorized and directed to take all actions and to execute all

documents on behalf of this Committee and TCF Financial Corporation as they or

any of them shall determine to be necessary or advisable to carry out the

intent and purpose of these resolutions.

 

I, Gregory J. Pulles,

Secretary of TCF Financial Corporation, do hereby certify that the foregoing

are true and correct copies of resolutions adopted by the Personnel Committee

of the Board of Directors of TCF Financial Corporation, and an Independent

Subcommittee thereof at a meeting held on May 3, 2002, and that such

resolutions have not been modified or rescinded as of the date hereof.

 

(Corporate Seal)

 

 

	

  Dated:  June 25, 2002

  	

   

  	

  /s/ Gregory J. Pulles

  
	

   

  	

   

  	

  Gregory J. Pulles

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