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

On March 27, 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 voluntarily forego certain compensation.

In his letter agreement, Mr. Taylor agreed to a reduction in his annual base salary for 2009 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") reevaluate his compensation at September 30, 2009 and on a quarterly basis thereafter and, if appropriate, restore his compensation to its current level.

Mr. Hoppe agreed to a reduction in his guaranteed bonus for 2008 from $300,000 to $233,000, and also agreed 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 September 30, 2009 and on a quarterly basis thereafter and, if appropriate, restore his auto allowance and country club expense reimbursements in accordance with corporate policy.