Item 5.02. Departure of Directors or Certain Officers;
Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On November 9, 2009, Bruce W. Taylor, Chairman and Chief Executive Officer of Taylor Capital Group, Inc. (the "Company"), and Mark A. Hoppe, President of the Company, entered into separate letter agreements electing to continue voluntarily foregoing certain compensation.

In his letter agreement, Mr. Taylor agreed to continue a reduction in his annual base salary from $525,200 to $420,000, reflecting a 20% decrease in the amount payable under his employment agreement, and also agreed to forego his auto allowance and right to receive certain club expense reimbursements. Mr. Taylor requested that the Compensation Committee of the Board of Directors (the "Committee") re-evaluate his compensation each quarter after the Company achieves a positive net income available to common shareholders.

Mr. Hoppe agreed to continue to forego his auto allowance and his right to receive certain club expense reimbursements. Mr. Hoppe asked the Committee to re-evaluate his compensation at each quarter after the Company achieves a positive net income available to common shareholders and, if appropriate, restore his auto allowance and country club expense reimbursements in accordance with corporate policy.