SEC Contract Filing

Filing Date: 2020-08-07

Document Content:
<DOCUMENT>
<TYPE>EX-10.J
<SEQUENCE>2
<FILENAME>ex-10j.htm
<DESCRIPTION>EXHIBIT 10.J
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<div><a name="sc4e371e0a2774c9fb2f71c1bf25a34cf"></a></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-indent:528px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"></font><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Exhibit 10(j)</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Mr. Dennis Klaeser</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#32;August 5, 2020</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Dear Dennis:</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">This agreement (this &#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Consulting Agreement</font><font style="font-family:inherit;font-size:12pt;">&#8221;) sets forth the terms and conditions whereby you (&#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Consultant</font><font style="font-family:inherit;font-size:12pt;">&#8221;) agree to provide certain services to TCF Financial Corporation, a Michigan corporation (&#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">TCF</font><font style="font-family:inherit;font-size:12pt;">&#8221;) following your separation from employment with TCF, as contemplated in that certain December 13, 2019 Supplement to your Employment Agreement dated July 1, 2018 with Chemical Financial Corporation and Chemical Bank (the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Employment Agreement</font><font style="font-family:inherit;font-size:12pt;">&#8221;).</font></div><div style="line-height:120%;padding-left:48px;text-align:justify;text-indent:48px;"><font style="text-align:justify;font-family:inherit;font-size:12pt;font-weight:bold;padding-right:48px;">1.</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;text-decoration:underline;">Services</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">.</font><font style="font-family:inherit;font-size:12pt;">&#32;Pursuant to the terms and conditions of this Consulting Agreement, Consultant agrees to provide to TCF consulting services relating to strategic matters for TCF, as reasonably requested by the Chief Executive Officer (the &#8220;CEO&#8221;) of TCF (the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Services</font><font style="font-family:inherit;font-size:12pt;">&#8221;). The Services shall be provided on a full-time basis consistent with the needs of contemplated transactions, and shall be performed at such locations and at such times as shall be reasonably requested by the CFO. The consultant shall report to the CEO or, if directed by the CEO, to the CFO. The roles and responsibilities of the Consultant are outline in the addendum to this document.</font></div><div style="line-height:120%;text-align:justify;padding-left:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;padding-left:48px;text-align:justify;text-indent:48px;"><font style="text-align:justify;font-family:inherit;font-size:12pt;font-weight:bold;padding-right:48px;">2.</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;text-decoration:underline;">Term</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">.</font><font style="font-family:inherit;font-size:12pt;">&#32;The term of this Consulting Agreement shall commence on October 2, 2020 (the&#160;&#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Effective&#160;Date</font><font style="font-family:inherit;font-size:12pt;">&#8221;) and shall continue for two years and end on October 2, 2022, unless earlier terminated in accordance with </font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Section 6 </font><font style="font-family:inherit;font-size:12pt;">(the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Term</font><font style="font-family:inherit;font-size:12pt;">&#8221;). </font></div><div style="line-height:120%;text-align:justify;padding-left:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;padding-left:48px;text-align:justify;text-indent:48px;"><font style="text-align:justify;font-family:inherit;font-size:12pt;font-weight:bold;padding-right:48px;">3.</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;text-decoration:underline;">Fees and Expenses</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">.</font><font style="font-family:inherit;font-size:12pt;">&#32;As compensation for the Services, TCF sha