Document:

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                                                                   Exhibit 10.32

                 NATIONAL CITY CORPORATION AMENDED AND RESTATED
                      LONG-TERM INCENTIVE COMPENSATION PLAN
                               FOR SENIOR OFFICERS

                As Amended and Restated Effective January 1, 2001

                                    ARTICLE I
                        ESTABLISHMENT AND PURPOSE OF PLAN

     1.1 ESTABLISHMENT OF THE PLAN. The following are the provisions of the
National City Corporation Long-Term Incentive Compensation Plan for Senior
Officers (herein referred to as the "Plan"), effective as of January 1, 2001,
which is an amendment and restatement of the National City Corporation Long-Term
Incentive Compensation Plan for Senior Officers effective July 31, 2000
("Predecessor Plan"). The Predecessor Plan was, in turn, an amendment,
restatement and continuation of prior plans entitled "National City Corporation
Long-Term Incentive Compensation Plan for Senior Officers" in effect prior to
July 31, 2000 ("Prior Plans").

         The Plan shall be effective for all purposes with respect to Plan
Cycles commencing on or after January 1, 2001, and with respect to all
determinations to be made (without regard to the date a Plan Cycle commenced) on
or after such date (including but not limited to determinations of eligibility
to participate, amounts of Awards, and entitlement to Awards).

     1.2 PURPOSE. The purpose of the Plan is to maximize the returns to
stockholders and to promote the long-term profitability and success of the
Corporation by providing an incentive to those key executives of the Corporation
who are primarily responsible for such profitability and success.

     1.3 OPERATION OF THE PLAN. The Plan shall be administered by the
Compensation and Organization Committee of the Board of Directors of the
Corporation. A Plan Cycle of three years will be established each year that the
Plan is in operation.

     1.4 TRANSFER OF ACCOUNT BALANCES. All Participants' deferred account
balances and current period elections to defer maintained under this Plan and
its predecessors, as of December 31, 2000, shall be transferred to and
thereafter governed by the terms of the National City Corporation Deferred
Compensation Plan, effective January 1, 2001. In the event of any inconsistency
between the terms of this Plan and the National City Corporation Deferred
Compensation Plan, effective January 1, 2001, as amended from time to time (the
"Deferred Comp Plan") or any successor plan(s) to the Deferred Comp Plan, the
terms of the Deferred Comp Plan or any successor plan shall govern.

                                    ARTICLE 2
                                   DEFINITIONS

     2.1 DEFINITIONS. Whenever used herein, the following terms shall have the
meanings set forth below, unless otherwise expressly provided. When the defined
meaning is intended, the term is capitalized,

         (a) "Active Participant" shall mean an Eligible Employee who is
     approved by the Committee for participation in a Plan Cycle of the Plan.
     Such approval shall be determined with respect to

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     each Plan Cycle prior to March 31 of the first year of that Plan Cycle, and
     shall be redetermined with respect to each new Plan Cycle.

         (b) "Average Stock Price" shall be determined with respect to each Plan
     Cycle for the month of December prior to such Plan Cycle (the Average Stock
     Price at the beginning of the Plan Cycle) and for the last full calendar
     month of the Plan Cycle (the Average Stock Price at the end of the Plan
     Cycle) and shall mean the arithmetic mean (the average) of the closing
     prices of a share of common stock of a company as reported on any national
     securities exchange (or by any national quotation system accepted by the
     Committee for this purpose) for each of the trading days (on which such
     shares were traded) in such calendar month. If the shares of common stock
     are not then so traded or regularly reported, the stock price shall be
     determined by such means as the Committee shall determine. Notwithstanding
     the foregoing, the Committee may determine prior to the start of a Plan
     Cycle that a different set of time periods are appropriate for measuring
     performance under the Plan, and such different time periods may be used to
     determine Average Stock Prices at the beginning and the end of such Plan
     Cycle.

         (c) "Award" shall mean the payment earned by a Participant based on
     comparison of the Corporation's actual results with the performance of a
     peer group of companies.

         (d) "Base Salary" shall mean the average annual salary of an employee
     during that portion, or all of the Plan Cycle for which he or she is an
     Active Participant, exclusive of any bonuses, incentive pay, special
     awards, or stock options.

         (e)  "Board" shall mean the Board of Directors of the Corporation.

         (f) "Committee" shall mean the Compensation and Organization Committee
     of the Board, or another committee appointed by the Board to serve as the
     administering committee of the Plan.

         (g) "Corporation" shall mean National City Corporation, a Delaware
     corporation.

         (h) "Covered Executive" shall mean any individual who, is, or is
     determined by the Committee to be likely to become, a "covered employee"
     within the meaning of Section 162(m) of the Internal Revenue Code of 1986,
     as amended.

         (i) "Disability" shall mean the inability, by reason of a medically
     determinable physical or mental impairment, to engage in substantial and
     gainful activity for a continuous period of 26 weeks or more as determined
     by the Committee.

         (j) "Early Retirement" shall mean retirement at or after age 55 with at
     least ten years of service with the Employers prior to Normal Retirement.

         (k)  "Effective Date" see Section 12.4.

         (l) "Eligible Employee" shall mean an Employee who is employed in a
     position meeting the defined eligibility criteria for participation in the
     Plan, as set forth in Article 3.

         (m) "Employee" shall mean an individual employed by an Employer on a
     regular active and full-time salaried basis.

         (n) "Employer" shall mean the Corporation or any corporation,
     organization or entity controlled by the Corporation.

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         (o) "Exchange Act" shall mean the Securities Exchange Act of 1934, as
     amended.

         (p) "Executive Officer" shall mean the chairman, chief executive
     officer, president, vice chairman, an executive vice president or a similar
     officer of the Corporation or anyone designated by the Board as an
     executive officer of the Corporation or a Covered Executive.

         (q)  "Implementation Date" see Section 12.4.

         (r) "Inactive Participant" shall mean an individual who was an Active
     Participant in the Plan for a Plan Cycle who is not currently an Active
     Participant for a Plan Cycle but who continues to have an interest under
     the Plan.

         (s) "Normal Retirement" shall mean leaving the employ of all Employers
     at or after the age 62 with at least twenty years of continuous service
     with the employers or at or after the age 65 with a least 5 years of
     continuous service with the Employers.

         (t) "Participant" shall mean and include all Active Participants and
     all Inactive Participants.

         (u) "Peer Group" shall mean a group of comparable corporations used to
     measure relative performance. Such Peer Group shall be established by the
     Committee for each Plan Cycle prior to the commencement of the Plan Cycle,
     and shall not thereafter be changed with respect to such Plan Cycle,
     provided, however, that one or more members of a Peer Group shall be
     dropped therefrom in the event of the acquisition of the Peer Group Member,
     the acquisition of sixty-five percent or more of the gross assets of the
     Peer Group Member or the merger of the Peer Group Member with another
     company(ies) where the Peer Group Member is not the surviving corporation.

         (v) "Plan" see Section 1.1

         (w) "Plan Cycle" shall mean a period of three consecutive fiscal years
    of the Corporation and shall be referred to by the fiscal year in which a
     particular Plan Cycle commences.

         (x)  "Predecessor Plan" see Section 1.1.

         (y)   "Prior Plan" see Section 1.1.

         (z) "Subsidiary" shall mean an entity in which the Corporation directly
     or indirectly owns 50% or more of the voting equity securities.

         (aa) "Total Stockholder Return" with respect to a stock shall be
     calculated in the following manner:

              (i) Add the Average Stock Price at the end of the Plan Cycle for
         such stock to the dividends paid on the stock during the Plan Cycle,
         and then subtract the Average Stock Price at the beginning of the Plan
         Cycle for such stock.

              (ii) Divide the resulting sum of (i) above by the Average Stock
         Price at the beginning of the Plan Cycle for such stock.

              (iii) The result equals Total Stockholder Return with respect to
         such stock for the Plan Cycle.

         (bb) "Vesting Event" shall mean the earliest to occur of the following
     events:

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              (1) the date any Award is payable hereunder,

              (2) the Effective Date of a Change in Control,

              (3) the date a Participant is eligible to retire on a Normal
         Retirement,

              (4) the date a Participant incurs a Disability,

              (5) the date of a Participant's death.

         Each Participant and Beneficiary with respect to whom a Vesting Event
         has occurred shall be 100% vested in his or her benefits or Awards
         earned or accrued hereunder as of the date of such Vesting Event,
         subject to the forfeiture provisions of Article 10.

         (cc) "Voting Stock" shall mean the then outstanding securities of a
     company entitled to vote generally in the election of directors.

     2.2 GENDER AND NUMBER. Except when otherwise indicated by the context, any
masculine terminology used herein also shall include the feminine, and the
definition of any term in the singular shall include the plural.

                                    ARTICLE 3
                          ELIGIBILITY AND PARTICIPATION

     3.1 ELIGIBILITY. Eligibility for participation in the Plan will be limited
to those senior officers of the Corporation and its subsidiaries who, by the
nature and scope of their positions, are materially responsible for the
management, growth, and overall success of the Corporation.

     3.2 PARTICIPATION. Participation in the Plan for each Eligible Employee who
is an Executive Officer shall be determined by the Committee with respect to
each Plan Cycle prior to the commencement of the Plan Cycle, except as otherwise
provided herein. The Committee may base its approval upon the recommendation of
the Chief Executive Officer of the Corporation. The Committee shall classify the
Executive Officers who are participants in the plan into one of the categories
listed below. The chief executive officer shall determine the participation of
each Eligible Employee who is not an Executive Officer. The chief executive
officer shall classify the participants who are not Executive Officers into one
of the categories listed below.

         CATEGORY          PERSONS INCLUDED
         --------          ----------------

         Category I        Chief executive officer of the corporation

         Category II       Vice chairmen of the Corporation and similar officers

         Category III      Executive officers of the Corporation and Executive
                           officers of major subsidiaries of the Corporation and
                           similar officers

         Category IV       Senior officers of the Corporation and senior
                           officers of Subsidiaries of the Corporation and
                           similar officers

     Each Eligible Employee approved for participation shall be notified of the
selection as soon as practicable and shall become a Participant upon acceptance
by him or her of such selection and

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upon execution of the award agreement (if any) approved by the Committee.

     3.3 PARTICIPATION FOR PART OF A PLAN CYCLE. In the event an Employee is an
Eligible Employee for only a portion of a Plan Cycle ("Participation Portion")
such Eligible Employee may, in the Committee's discretion if the Participant is
an Executive Officer or in the chief executive officer's discretion if the
Participant is not an Executive Officer, be a Participant for such portion of
the Plan Cycle but his Award will normally be prorated to reflect the number of
months in the Participation Portion of the Plan Cycle compared to the number of
months in the Plan Cycle. A Covered Executive may not be made a Participant
after the beginning of a Plan Cycle.

     3.4 CHANGES DURING A PLAN CYCLE. In the event a Participant is promoted or
demoted, the Committee if the Participant is an Executive Officer or the chief
executive officer if the Participant is not an Executive Officer may, in its or
his discretion, (i) continue such Participant's maximum Award as it was prior to
such promotion or demotion, (ii) provide the Participant from and after the
promotion or demotion with a higher or lower maximum Award, (iii) provide for a
combination of (i) and (ii), or (iv) after a promotion or demotion remove the
Participant from further participation in the Plan.

         (a) In the event of a Plan Cycle for which the Participant's
     participation is thus split between two maximum Awards, the Award for such
     Plan Cycle will normally be prorated to reflect the portions of the Plan
     Cycle spent under each maximum Award.

         (b) The Committee may not increase a Covered Executive's maximum Award
during a Plan Cycle.

     3.5 NO RIGHT TO PARTICIPATE. No Participant or Employee shall have a right
at any time to be selected for current or future participation in the Plan.

                                    ARTICLE 4
                               AWARD DETERMINATION

     4.1 PEER GROUP AND THRESHOLD, TARGET AND MAXIMUM AWARDS FOR EACH PLAN
CYCLE. Prior to the beginning of the Plan Cycle the Committee shall establish
Threshold Award, Target Award and Maximum Award performance levels for the Plan
Cycle, against which the Total Stockholder Return of the Corporation for the
Plan Cycle shall be compared to other members of the Peer Group based on ranking
of Plan Cycle results of the Corporation and members of the Peer Group. The
Committee shall also determine the membership of the Peer Group for the Plan
Cycle at such time.

     4.2 AWARD. The amount of incentive compensation that shall be awarded to a
Participant under this Plan shall be expressed as a percentage of Base Salary.
Such percentage shall be determined on the basis of the attainment, or lack of
attainment, by the Corporation of the Threshold, Target or Maximum performance,
as follows:

                          PERCENT OF BASE COMPENSATION

                      BELOW
     CATEGORY        THRESHOLD       THRESHOLD          TARGET         MAXIMUM
           I            0%              30%               50%           100%
          II            0%              24%               40%            80%
         III            0%              18%               30%            60%

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          IV            0%              12%               20%            40%

     4.3 LIMITATION. Notwithstanding any provision in this Plan to the contrary,
no Award for any one Plan Cycle shall exceed $2,000,000.00.

                                    ARTICLE 5
                                PAYMENT OF AWARDS

     5.1 FORM AND TIMING OF PAYMENT OF AWARDS. Within 90 days after the end of
the Plan Cycle, the Participants shall be entitled to receive a cash payment
equal to the entire amount of the Participant's Award. Except as otherwise
provided for in Section 6.1, to receive an Award a Participant must be an
Employee on the date on which the Plan Cycle ends. The Committee may reduce or
terminate a Participant's Award prior to any Vesting Event.

                                    ARTICLE 6
                            TERMINATION OF EMPLOYMENT

     6.1 TERMINATION OF EMPLOYMENT DUE TO DEATH, DISABILITY OR NORMAL
RETIREMENT. In the event a Participant's employment is terminated during a Plan
Cycle at or after the occurrence of a Vesting Event other than a Change of
Control the Participant shall be eligible to receive a pro-rated Award
reflecting his or her partial participation. This pro-ration shall be determined
by multiplying the Award by a fraction the numerator of which is the number of
full months of participation to the date participation ends, and the denominator
of which is 36. The Award thus determined shall be payable as soon as
practicable following the end of the Plan Cycle.

    6.2 OTHER TERMINATIONS OF EMPLOYMENT. In the event a Participant's
employment is terminated during a Plan Cycle prior to a Vesting Event, the
Participant's participation in such Plan Cycle shall end and the Participant
shall not be entitled to any Award for such Plan Cycle.

                                    ARTICLE 7
                             RIGHTS OF PARTICIPANTS

     7.1 EMPLOYMENT. Nothing in this Plan shall interfere with or limit in any
way the right of the Corporation to terminate a Participant's employment at any
time, nor confer upon any Participant any right to continue in the employ of the
Corporation.

     7.2 RESTRICTIONS ON ASSIGNMENTS. The interest of a Participant or his or
her beneficiary under this Plan may not be sold, transferred, assigned, or
encumbered in any manner, either voluntarily or involuntarily, and any attempt
to so anticipate, alienate, sell, transfer, assign, pledge, encumber, or charge
the same shall be null and void; neither shall the benefits hereunder be liable
for or subject to the debts, contracts, liabilities, engagements, or torts of
any person to whom such benefits or funds are payable, nor shall they be subject
to garnishment, attachment, or other legal or equitable process, nor shall they
be an asset in bankruptcy.

                                    ARTICLE 8
                                 ADMINISTRATION

     The Plan shall be administered by the Committee in accordance with any
administrative guidelines and any rules that may be established from time to
time by the Committee. The

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procedures, standards and provisions of this Plan for determining eligibility
for and amounts of Awards in themselves confer no rights, duties or privileges
upon Participants nor place obligations upon either the Board or the
Corporation. Accordingly, the Committee may, in making such determinations
hereunder, deviate from such procedures and standards in whatever manner that
it, in its judgment, deems appropriate.

     The Committee shall have full power and authority to interpret, construe
and administer the Plan and its interpretations and construction hereof, and
actions hereunder, including the timing, form, amount or recipient of any
payment to be made hereunder, and its decisions shall be binding and conclusive
on all persons for all purposes.

     The Committee may name assistants who may be, but need not be, members of
the Committee. Such assistants shall serve at the pleasure of the Committee, and
shall perform such functions as are provided for herein and such other functions
as may be assigned by the Committee.

     No member of the Committee or any assistant shall be liable to any person
for any action taken or omitted in connection with the interpretation and
administration of this Plan unless attributable to his or her own willful
misconduct or lack of good faith.

                                    ARTICLE 9
                               REQUIREMENTS OF LAW

     9.1 LAWS GOVERNING. This Plan shall be construed in accordance with and
governed by the laws of the State of Ohio.

     9.2 WITHHOLDING TAXES. The Corporation shall have the right to deduct from
all payments under this Plan any federal or state taxes required by the law to
be withheld with respect to such payments.

     9.3 PLAN BINDING ON CORPORATION, EMPLOYEES AND THEIR SUCCESSORS. This Plan
shall be binding upon and inure to the benefit of the Corporation, its
successors and assigns and each Participant and his or her beneficiaries, heirs,
executors, administrators and legal representatives.

                                   ARTICLE 10
                                   FORFEITURES

     Notwithstanding any provision in this Plan to the contrary excepting only
the provisions of Article 11, in the event the Committee finds

         (a) that an Employee or former Employee who has an interest under this
     Plan has been discharged by his or her Employer in the reasonable belief
     (and such reasonable belief is the reason or one of the reasons for such
     discharge) that the Employee or former Employee did engage in fraud against
     the Employer or anyone else, or

         (b) that an Employee or former Employee who has an interest under this
     Plan has been convicted of a crime as a result of which it becomes illegal
     for his Employer to employ him or her,

then any amounts held under this Plan for the benefit of such Employee or former
Employee or his or her beneficiaries shall be forfeited and no longer payable to
such Employee or former Employee

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or to any person claiming by or through such Employee or former Employee.

                                   ARTICLE 11
                                CHANGE IN CONTROL

     11.1 TREATMENT OF AWARDS. In the event of a Change in Control the
Corporation shall pay to each Active Participant on the Implementation Date of
such Change in Control a lump sum cash payment equal to the amount hereinafter
determined. Such payment shall be payable in cash to the Participant within five
business days after the Implementation Date of such Change in Control and shall
be payment in full to each such Participant for such Plan Cycle, each of which
shall be deemed terminated by operation of this Article 11. No further Plan
Cycles shall commence thereafter under this Plan.

     Such cash payment shall be made without regard to any request to defer made
with respect to any such Plan Cycle (which shall be inoperative) and without
regard to any deferral action by the Committee.

     11.2 AMOUNT OF PAYMENT. The amount of the payment to be made as a
consequence of a Change in Control shall, with respect to each Plan Cycle, be
equal to the Maximum Award level (without regard to stockholder return during
such abbreviated Plan Cycle) for the Participant for such Plan Cycle multiplied
by a fraction the numerator of which is the number of full months completed from
the commencement of the Plan Cycle to the Implementation Date of the Change in
Control, and the denominator of which is 36.

     11.3 DEFINITION OF CHANGE IN CONTROL. Change in Control shall mean the
occurrence of any of the following events:

           (a) The Corporation is merged, consolidated or reorganized into or
     with another corporation or other legal person, and as a result of such
     merger, consolidation or reorganization less than sixty-five percent of the
     combined voting power of the then-outstanding securities of such
     corporation or person immediately after such transaction are held in the
     aggregate by the holders of Voting Stock immediately prior to such
     transaction;

           (b) The Corporation sells or otherwise transfers all or substantially
     all of its assets to another corporation or other legal person, and as a
     result of such sale or transfer less than sixty-five percent of the
     combined voting power of the then-outstanding Voting Stock of such
     corporation or person immediately after such sale or transfer is held in
     the aggregate by the holders of Voting Stock of the Corporation immediately
     prior to such sale or transfer;

           (c) The Corporation files a report or proxy statement with the
     Securities and Exchange Commission pursuant to the Exchange Act disclosing
     in response to Form 8-K or Schedule 14A (or any successor schedule, form or
     report or item therein) that a change in control of the Corporation has
     occurred or will occur in the future pursuant to any then-existing contract
     or transaction; or

           (d) If, during any period of two consecutive years, individuals who
     at the beginning of any such period constitute the Directors of the
     Corporation cease for any reason to constitute at least a majority thereof;
     provided, however, that for purposes of this clause (d) each Director who
     is first elected, or first nominated for election by the Corporation's
     stockholders, by a vote of at least two-thirds of the Directors of the
     Corporation (or a committee thereof) then still in office who were
     Directors of the Corporation at the beginning of any such period will be
     deemed to have been a Director of the Corporation at the beginning of such
     period.

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     Notwithstanding the foregoing provisions of paragraph 11.3(a), 11.3(b) or
11.3(c), in the case where the individuals who constitute the Directors of the
Corporation at the time a specific transaction described in Paragraph 11.3(a),
11.3(b) or 11.3(c) is first presented or disclosed to the Board will, by the
terms of the definitive agreement for that transaction, constitute at least a
majority of the members of the board of directors of the resulting corporation
or person immediately following such transaction, then, prior to the occurrence
of any event that would otherwise constitute a Change in Control under any of
the foregoing provisions of this Subsection 11.3, the Board may determine by
majority vote of the Board that the specific transaction does not constitute a
Change in Control under Paragraph 11.3(a), 11.3(b) or 11.3(c).

     11.4 EFFECTIVE DATE OF CHANGE IN CONTROL. Notwithstanding the foregoing, in
the event a Change in Control ultimately results from discussions or
negotiations involving the Corporation or any of its officers or directors, the
"Effective Date" of such Change in Control shall be the date uninterrupted
discussions or negotiations commenced; otherwise, such Effective Date or Change
in Control shall be the Implementation Date of such Change in Control.

     11.5 IMPLEMENTATION DATE OF CHANGE IN CONTROL. The "Implementation Date"
shall be the earliest to occur of the events specified in Section 11.3. As used
herein, the Implementation Date of Change in Control shall be the last date of
all current Plan Cycles.

     11.6 EFFECT OF CHANGE IN CONTROL. In addition to other vesting under the
Plan, the opportunity of a Participant to participate to the end of all current
Plan Cycles is vested in such Participant in the event of a Change in Control,
as of the Effective Date of such Change in Control.

                                   ARTICLE 12
                                  MISCELLANEOUS

     In the event of the liquidation of the Corporation the Committee may make
any provisions for holding, handling and distributing the amounts standing to
the credit of the Participants or beneficiaries hereunder which in the
discretion of the Committee are appropriate and equitable under all
circumstances and which are consistent with the spirit and purposes of these
provisions.

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                                   ARTICLE 13
                          AMENDMENT AND DISCONTINUANCE

     The Corporation expects to continue this Plan indefinitely, but reserves
the right, by action of the Committee, to amend it from time to time, or to
discontinue it if such a change is deemed necessary or desirable except that
stockholder approval shall be required for any amendment or modification of this
Plan that, in the opinion of the Corporation's counsel, would be required by
Section 162(m) of the Internal Revenue Code of 1986, as amended, or any
regulations promulgated thereunder. However, if the Committee should amend or
discontinue this Plan, the Corporation shall remain obligated under the Plan
with respect to (1) Awards made final (and thus payable) by decision of the
Committee prior to the date of such amendment or discontinuance (2) Awards and
rights of any Participant or beneficiary with respect to whom a Vesting Event
has occurred.

     Executed as of this 23rd day of October, 2000 at Cleveland, Ohio.

                                           NATIONAL CITY CORPORATION

                                           By: /s/ Shelley J. Seifert
                                              -----------------------------

                                       10<PAGE>   1
                                                                   Exhibit 10.33
                            NATIONAL CITY CORPORATION

                            MANAGEMENT INCENTIVE PLAN

                               FOR SENIOR OFFICERS

                             AS AMENDED AND RESTATED

                            EFFECTIVE JANUARY 1, 2001

                       ARTICLE 1. THE PLAN AND ITS PURPOSE
                       -----------------------------------

         1.1 ADOPTION OF PLAN. This National City Corporation Management
Compensation Plan for Senior Officers is hereby adopted, effective January 1,
2001 (herein referred as the "Plan").

         1.2 EFFECTIVENESS. This Plan is effective on and after January 1,
2001, to provide for the operation of the Plan on and after such date.

         1.3 PURPOSE. The purpose of the Plan is to maximize the Corporation's
profitability and operating success by providing an incentive to officers to
achieve superior results. The Plan is designed to promote teamwork to achieve
overall corporate success and to motivate individual excellence.

         1.4 OPERATION OF THE PLAN. The Plan shall be administered by the
Compensation and Organization Committee of the Board of Directors of the
Corporation. The Plan operates on a calendar year basis and is subject to the
review, interpretation, and alteration by the Committee. The Plan is intended to
serve only as a guide to the Corporation in determining eligibility for and
amounts of incentive compensation to be awarded under the Plan.

         1.5 TRANSFER OF ACCOUNT BALANCES. All Participants' deferred account
balances and current period elections to defer maintained under this Plan and
its predecessors, as of December 31, 2000, shall be transferred to and
thereafter governed by the terms of the National

<PAGE>   2

City Corporation Deferred Compensation Plan, effective January 1, 2001. In the
event of any inconsistency between the terms of this Plan and the National City
Corporation Deferred Compensation Plan, effective January 1, 2001, as amended
from time to time (the "Deferred Comp Plan") or any successor plan(s) to the
Deferred Comp Plan, the terms of the Deferred Comp Plan or any successor plan
shall govern.

                             ARTICLE 2. DEFINITIONS
                             ----------------------
         2.1 DEFINITIONS. Whenever used herein, the following terms shall have
the meanings set forth below, unless otherwise expressly provided. When the
defined meaning is intended, the term is capitalized.

             (a) "Base Salary" shall mean the annual salary as of the close of
the Plan Cycle, exclusive of any bonuses, incentive pay, special awards, or
stock options.

             (b) "Board" shall mean the Board of Directors of the Corporation.

             (c) "Change in Control" see Section 11.3.

             (d) "Code" shall mean the Internal Revenue Code of 1986, as
amended.

             (e) "Committee" shall mean the Compensation and Organization
Committee of the Board, or another committee appointed by the Board to serve as
the administering committee of the Plan.

             (f) "Corporate Award" shall mean the payment earned by a
Participant based on the Corporation's results as set forth in Section 4.1(b).

             (g) "Corporation" shall mean National City Corporation, a Delaware
corporation.

             (h) "Covered Executive" shall mean any individual who, is, or is
determined by the Committee to be likely to become, a "covered employee" within
the meaning of Section 162(m) of the Code.

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<PAGE>   3

             (i) "Disability" shall mean the inability, by reason of a medically
determinable physical or mental impairment, to engage in substantial and gainful
activity for a continuous period of 26 weeks or more as determined by the
Committee.

             (j) "Early Retirement" shall mean retirement at or after age 55
with at least ten years of service with the Employers prior to Normal
Retirement.

             (k) "Effective Date" see Section 11.4.

             (l) "Eligible Employee" shall mean an Employee who is employed in a
position meeting the defined eligibility criteria for participation in the Plan,
as set forth in Article 3.

             (m) "Employee" shall mean an individual employed by an Employer on
a regular active and full-time salaried basis.

             (n) "Employer" shall mean the Corporation or any Subsidiaries.

             (o) "Executive Officer" shall mean the chairman, chief executive
officer, president, vice chairman, executive vice president or a similar officer
of the Corporation, anyone designated by the Board as an executive officer of
the Corporation or a Covered Executive.

             (p) "Exchange Act" shall mean the Securities Exchange Act of 1934,
as amended.

             (q) "Individual Award" shall mean the payment earned by a
Participant based on an evaluation of the individual's achievements. As such,
the amount of any Individual Award under this Plan is determined by decision of
and in the discretion of the Corporation acting through the Committee as
hereinafter provided.

             (r) "Implementation Date" see Section 11.5.

             (s) "Key Financial Indices" shall mean those indices frequently
used by financial corporations to measure profitability and overall operating
performance. The indices shall be based on specific levels of or change in one
or more of the following: return on common equity; return on assets; overhead
ratio; efficiency ratio; net interest margin; total annual return on common
stock; earnings per share, as determined in accordance with generally accepted
accounting principles. If the Committee determines that a change in the
business, operations,

                                      -3-
<PAGE>   4

corporate structure or capital structure of the corporation, or the manner in
which it conducts its business, or other events or circumstances render the Key
Financial Indices unsuitable, the Committee may in its discretion modify such
Key Financial Indices, in whole or in part, as the Committee deems appropriate
and equitable, except in the case of a Covered Executive where such action would
result in the loss of the otherwise available exemption of the award under
Section 162(m) of the Code. In such case, the Committee shall not make any
modification of the Key Financial Indices.

             (t) "Normal Retirement" shall mean leaving the employ of all
Employers at or after the age 62 with at least twenty years of continuous
service with the Employers or at or after the age 65 with at least five years of
continuous service with the Employers.

             (u) "Participant" shall mean an Eligible Employee who is approved
by the Committee for participation in the Plan. Such approval shall be on a Plan
Cycle basis and shall be reviewed with respect to each new Plan Cycle.

             (v) "Participation Portion" see Section 3.3.

             (w) "Peer Group" shall mean a group of comparable corporations used
to measure relative performance. The Peer Group shall be established by the
Committee prior to March 31st of each Plan Cycle; thereafter, such Peer Group
for such Plan Cycle shall not be changed, provided however, that one or more
members of a Peer Group shall be dropped therefrom upon the announcement of a
definitive agreement to (i) acquire the Peer Group member, (ii) the acquisition
of sixty-five percent or more of the gross assets of the Peer Group member or
(iii) the merger of the Peer Group member with another company(ies) where the
Peer Group member's then current board of directors will not constitute a
majority of the board of the surviving corporation.

             (x) "Plan" see Section 1.1.

             (y) "Plan Cycle" shall mean a period of a calendar year.

             (z) "Restricted Stock Plans" see Section 9.1.

                                      -4-
<PAGE>   5

             (aa) "Subsidiary" shall mean an entity in which the Corporation
directly or indirectly owns 50% of more of the voting equity securities.

             (bb) "Total Award" shall mean the Individual Award plus the
Corporate Award.

             (cc) "Vesting Event" shall mean the earliest to occur of the
following dates:

                  (1)    the date any award is paid,

                  (2) the last date a benefit can be paid under the Plan,

                  (3) the Effective Date of a Change in Control,

                  (4) the date a Participant takes Normal Retirement,

                  (5) the date a Participant has a Disability, or

                  (6) the date of a Participant's death.

             Each Participant and beneficiary with respect to whom a Vesting
Event has occurred shall be 100% vested in his benefits or Total Award earned or
accrued hereunder as of the date of said Vesting Event, subject to the
forfeiture provisions of Article 10.

             (dd) "Voting Stock" shall mean the then outstanding securities of a
company entitled to vote generally in the election of directors.

         2.2 GENDER AND NUMBER. Except when otherwise indicated by the context,
any masculine terminology used herein also shall include the feminine, and the
definition of any term in the singular shall include the plural.

                    ARTICLE 3. ELIGIBILITY AND PARTICIPATION
                    ----------------------------------------

         3.1 ELIGIBILITY. Eligibility for participation in the Plan will be
limited to those officers of the Corporation and Subsidiaries who, by the nature
and scope of their position, play a key role in the management, growth and
success of the Corporation, as determined by the Committee.

         3.2 PARTICIPATION. Participation in the Plan for each Eligible Employee
who is an Executive Officer shall be determined by the Committee with respect to
each Plan Cycle prior to the commencement of the Plan Cycle, except as otherwise
provided herein. The Committee may

                                      -5-
<PAGE>   6

base its approval upon the recommendation of the Chief Executive Officer of the
Corporation. The chief exectuive officer shall determine the participation of
each Eligible Employee who is not An Executive Officer. Each Eligible Employee
approved for participation shall be notified of the selection as soon after
approval as is practicable and shall become a Participant upon acceptance by him
of such selection.

         3.3 PARTICIPATION FOR PART OF A PLAN CYCLE. In the event an Employee is
an Eligible Employee for only a portion of a Plan Cycle ("Participation
Portion") such Eligible Employee may, in the Committee's discretion, be a
Participant for such portion of the Plan Cycle but his Total Award will be based
upon his Base Salary at the end of such Participation Portion and such Total
Award will normally be prorated to reflect the number of months in the
Participation Portion of the Plan Cycle compared to the number of months in the
total Plan Cycle. A Covered Executive may not be made a Participant after the
beginning of a Plan Cycle.

         3.4 CHANGES DURING A PLAN CYCLE. In the event a Participant is promoted
or demoted, the Committee may, in its discretion, (i) continue such
Participant's maximum Total Award as it was prior to such promotion or demotion,
(ii) provide the Participant from and after the promotion or demotion with a
higher or lower maximum Total Award, (iii) provide for a combination of (i) and
(ii), or (iv) after a demotion remove the Participant from further participation
in the Plan.

             (a) In the event of a Plan Cycle for which the Participant's
participation is thus split between two maximum Total Awards, the Total Award
for such Plan Cycle will normally be prorated to reflect the portions of the
Plan Cycle spent under each maximum Total Award and each part of the Total Award
will be based upon the Participant's Base Salary at the end of the appropriate
portions of the Plan Cycle.

             (b) The Committee may not increase a Covered Executive's maximum
Total Award during a Plan Cycle.

         3.5 PORTIONS OF PLAN CYCLES-SETTING OF INDIVIDUAL OBJECTIVES.
Notwithstanding Sections 3.3 and 3.4, no portion of a Plan Cycle with respect to
a Participant shall be considered

                                      -6-
<PAGE>   7

to be a separate portion of participation for a Participant unless, prior
thereto, individual achievement objectives are set for such Participant for such
portion of a Plan Cycle pursuant to Article 4, or are waived by the Committee,
in its discretion.

         3.6 NO RIGHT TO PARTICIPATE. No Participant or Employee shall have a
right at any time to be selected for current or future participation in the
Plan.

                       ARTICLE 4. PERFORMANCE MEASUREMENT
                       ----------------------------------

         4.1 PERFORMANCE CRITERIA. Performance, for purposes of this Plan, will
be measured in terms of the Participant's individual contribution and in terms
of the Corporation's performance.

             (a) Individual Awards will be determined by comparing actual
individual and group achievements during the Plan Cycle to established
objectives for the Plan Cycle. Not later than 90 days after the commencement of
each Plan Cycle each Participant shall establish objectives for the Plan Cycle.
Such objectives shall be broad in nature, may be quantitative or qualitative,
will typically be five in number and may include the achievement of group or
divisional goals as well as individual goals. The objectives for Participants
other than the chief executive officer of the Corporation shall be subject to
the review, revision and approval of their superiors and the objectives for the
chief executive officer shall be subject to the review, revision and approval of
the Committee.

                 (1) INDIVIDUAL AWARD POTENTIAL. The Committee shall establish
in writing the maximum Individual Awards for each Participant not later than 90
days after the commencement of each Plan Cycle.

                 (2) INDIVIDUAL AWARD CALCULATION AND APPROVAL. An evaluation of
the individual performance for each Participant for each Plan Cycle will be
determined as of the December 31st on which the Plan Cycle ends by applying the
foregoing provisions of this Article 4 to the Participant's Individual
Contribution for such Plan Cycle. Based on the evaluation, the chief executive
officer of the Corporation shall recommend to the Committee for approval an
appropriate Total Award for each of the Participants who is an Executive
Officer. The chief

                                      -7-
<PAGE>   8

executive officer shall also determine the Total Award of all Participants other
than Executive Officers which shall be deemed approved by the Committee upon (1)
the completion by the chief executive officer of a list of such Individual
Awards, and (2) the Committee's approval of the aggregate dollar amount of such
Individual Awards. The chief executive officer shall recommend to the Committee
for approval the Individual Awards and Total Awards for each of the Executive
Officers.

                 (3) All such Individual Awards may, for convenience purposes,
be expressed as a percentage of Base Salary or some other criteria. Upon the
approval of the Committee the amounts of Individual Awards hereunder for a Plan
Cycle shall be final.

                 (4) No Individual Awards shall be paid to any Participant for a
Plan Cycle during which the Participant is a Covered Executive.

             (b) Corporate Awards will be determined by comparing corporate
performance with respect to Key Financial Indices. The performance may be
relative to pre-established goals, that of the Peer Group or any other objective
standard established by the Committee. Not later than 90 days after the
commencement of each Plan Cycle, the Committee shall establish in writing the
Peer Group, if any, the Key Financial Indices, the weighting of the Key
Financial Indices chosen, and the levels of comparative performance (the
performance of goals may be stated as alternative goals) at which the maximum
Corporate Award will be provided under the Plan.

                 (1) CORPORATE AWARD POTENTIAL. The Committee shall establish in
writing the maximum Corporate Awards for each Participant not later than 90 days
after the commencement of each Plan Cycle.

                 (2) CORPORATE AWARD CALCULATION AND APPROVAL. The amount of the
Corporate Award for each Participant for each Plan Cycle will be calculated as
of the December 31st on which the Plan Cycle ends by applying the provisions of
this Section 4.1 to the Corporation's performance for such Plan Cycle. Corporate
Awards may, for convenience purposes, be expressed as a percentage Base Salary
or some other criteria. Upon the close of the

                                      -8-
<PAGE>   9

Plan Cycle the amounts of Corporate Awards hereunder for such Plan Cycle shall
be determined. The Committee has the discretion to reduce the Corporate Award
payable to any Participant notwithstanding attainment of any performance goal.
Notwithstanding the occurrence of a Vesting Event, the Committee may reduce or
eliminate a Corporate Award to any or all Participants at any time prior to the
payment of the Total Award or an Implementation Date of a Change in Control.

         4.2 LIMITATION. Notwithstanding any provision of this Plan to the
contrary, no Total Award to any Covered Executive for any given Plan Cycle shall
exceed 1.0% of the Corporation's earnings before taxes and any one time
earnings, expenses or charges .

                       ARTICLE 5. PAYMENT OF TOTAL AWARDS
                       ----------------------------------

         5.1 FORM AND TIMING OF PAYMENT OF TOTAL AWARDS. Within 90 days of the
end of the Plan Cycle, the Participant shall be entitled to receive a cash
payment(s) equal to the entire amount of the Participant's Total Award. Except
as otherwise provided for in Section 5.2, to receive a Total Award a Participant
must be an Employee on the date on which the Plan Cycle ends; provided, however,
the Committee or the Chief Executive Officer may reduce or terminate a
Participant's Total Award prior to any Vesting Event if such Participant fails
to continue to be an Employee.

         5.2 TERMINATION OF EMPLOYMENT DUE TO RETIREMENT, DISABILITY OR DEATH.
In the event a Participant's employment is terminated during a Plan Cycle by
reason of Normal Retirement, Disability or Death, the Participant shall be
eligible to receive a prorated Total Award based on individual contribution
during the Participant's participation in the Plan Cycle and the Corporation's
performance for the year, provided however, that the Participant must have been
a Participant in the Plan for at least three months of the Plan Cycle to be
eligible to receive any Total Award hereunder. Such Total Awards will be paid
within ninety (90) days following the end of the Plan Cycle. In the event of
death, the Total Award will be paid to the Participant's estate.

                                      -9-
<PAGE>   10

         5.3 TERMINATION OF EMPLOYMENT DUE TO EARLY RETIREMENT. The Committee
may elect, in its discretion, to pay a prorated Total Award to a Participant who
terminates employment by means of an Early Retirement prior to a Vesting Event;
in the absence of such favorable discretionary action by the Committee, no such
pro-rated Total Award shall be paid.

         5.4 OTHER TERMINATIONS OF EMPLOYMENT. In the event a Participant's
employment is terminated for any reason other than Normal Retirement during a
Plan Cycle prior to a Vesting Event, the Participant's participation in such
Plan Cycle shall end and the Participant shall not be entitled to any Total
Award for such Plan Cycle.

         5.5 REQUEST TO RECEIVE RESTRICTED STOCK; RESTRICTED STOCK PAYMENTS. The
Committee may determine that one or more Participants should be eligible to
elect to request to have a portion or all of his Total Award for a Plan Cycle
paid in restricted stock. Such request by an eligible Participant shall be
considered by the Committee. The Committee may determine that some, all, or none
of the Total Awards, or parts thereof, shall be paid in restricted stock, in its
discretion. Restricted stock payments are subject to the provisions of Article
9.

                        ARTICLE 6. RIGHTS OF PARTICIPANTS
                        ---------------------------------

         6.1 EMPLOYMENT. Nothing in this Plan shall interfere with or limit in
any way the right of the Corporation to terminate a Participant's employment at
any time, nor confer upon any Participant any right to continue in the employ of
the Employer.

         6.2 RESTRICTIONS ON ASSIGNMENTS. The interest of a Participant or his
beneficiary under this Plan may not be sold, transferred, assigned, or
encumbered in any manner, either voluntarily or involuntarily, and any attempt
to so anticipate, alienate, sell, transfer, assign, pledge, encumber, or charge
the same shall be null and void; neither shall the benefits hereunder be liable
for or subject to the debts, contracts, liabilities, engagements, or torts of
any person to whom such benefits or funds are payable, nor shall they be subject
to garnishment, attachment, or other legal or equitable process, nor shall they
be an asset in bankruptcy.

                                      -10-
<PAGE>   11

                            ARTICLE 7. ADMINISTRATION
                            -------------------------

         7.1 ADMINISTRATION. The Plan shall be administered by the Committee in
accordance with any administrative guidelines and any rules that may be
established from time to time by the Committee. The procedures, standards and
provisions of this Plan for determining eligibility for and amounts of Total
Awards are, except for Covered Employees, intended only as a guide and in
themselves confer no rights, duties or privileges upon Participants nor place
any obligation upon the Committee, the Board or the Corporation. Accordingly,
the Committee may, in making its determinations hereunder, deviate from such
procedures and standards in whatever manner that it, in its judgment, deems
appropriate so long as no Total Award shall exceed the Section 4.2 limitation.

             (a) The Committee shall have full power and authority to interpret,
construe and administer the Plan and its interpretations and construction
hereof, and actions hereunder, including the timing, form, amount or recipient
of any payment to be made hereunder, and its decisions shall be binding and
conclusive on all persons for all purposes.

             (b) The Committee may name assistants who may be, but need not be,
members of the Committee. Such assistants shall serve at the pleasure of the
Committee, and shall perform such functions as may be assigned by the Committee.

             (c) No member of the Committee or any assistant shall be liable to
any person for any action taken or omitted in connection with the interpretation
and administration of this Plan unless attributable to his own willful
misconduct or lack of good faith.

                         ARTICLE 8. REQUIREMENTS OF LAW
                         ------------------------------

         8.1 LAWS GOVERNING. This Plan shall be construed in accordance with and
governed by the laws of the State of Ohio.

         8.2 WITHHOLDING TAXES. The Corporation shall have the right to deduct
from all payments under this Plan any federal or state taxes required by the law
to be withheld with respect to such payments.

                                      -11-
<PAGE>   12

         8.3 PLAN BINDING ON CORPORATION, EMPLOYEES AND SUCCESSORS. This Plan
shall be binding upon and inure to the benefit of the Corporation, its
successors and assigns and each Participant and his beneficiaries, heirs,
executors, administrators and legal representatives.

                           ARTICLE 9. RESTRICTED STOCK
                           ---------------------------

         9.1 RESTRICTED STOCK. The restricted stock referred to in this Plan
shall be restricted stock granted pursuant to the National City Corporation
Amended and Second Restated 1991 Restricted Stock Plan or the National City
Corporation 1997 Restricted Stock Plan as such plans are amended from time to
time ("Restricted Stock Plans"). Any awards of restricted stock will be made at
the discretion of the Compensation Committee and shall be subject to the terms,
conditions and restrictions contained in the Restricted Stock Plans and the
award agreement controlling each restricted stock award grant.

         9.2 ELECTION TO REQUEST RESTRICTED STOCK. Prior to the end of each Plan
Cycle, the Committee shall determine which Participants, if any, shall be
eligible to request payment of all or a portion of their Total Award in the form
of restricted stock. Each Participant who is therefore eligible to elect to
request payment of all or a portion of his Total Award for such Plan Cycle in
the form of restricted stock, shall be given the opportunity prior to the end of
such Plan Cycle, to make such request. Covered Executives, however, must elect
restricted stock prior to the 90th day after the commencement of each Plan
Cycle. Such election and the percentage of Total Award requested to be paid in
the form of restricted stock shall be irrevocable and fixed with respect to such
Participant and such Plan Cycle as of the end of such Plan Cycle. The request
and determination of the portion of the Total Award to be paid in the form of
restricted stock shall be made in terms of 10% increments of the Total Award.

         9.3 RESTRICTED STOCK AWARDS; COMMITTEE'S DECISION. Notwithstanding any
request by a Participant pursuant to Section 9.1 above to receive none, a
portion or all of a Total Award in the form of restricted stock, and not
withstanding the Committee's prior determination as to the eligibility of any
Participant to elect to receive a part or all of their Total Award in the form
of

                                      -12-
<PAGE>   13

restrict stock, the Committee shall make the decision, in the case of each
Participant, whether or not to pay any portion or all of any Participant's Total
Award with respect to any Plan Cycle. Such decision shall be made in the
discretion of the Committee, which extends to the percentage of any Total Award
to be paid in the form of restricted stock. The Committee's decision shall be
final and binding on all parties.

         9.4 DETERMINATION OF THE NUMBER OF SHARES OF RESTRICTED STOCK. The
number of shares of restricted stock to be granted to a Participant shall be
determined as follows:

             (a) The Committee shall determine the Participant's Total Award for
the applicable Plan Cycle in accordance with Article 4 of this Plan.

             (b) The appropriate percentage of the Total Award to be paid in
restricted stock as determined in Section 9.3 shall be multiplied by the
Participant's Total Award for such Plan Cycle.

             (c) The product from Section 9.4(b) shall be multiplied by 115%.

             (d) The product from Section 9.4(c) shall be divided by the closing
price, per share, of the shares of common stock of the Corporation on the New
York Stock Exchange on the last trading day of the month of January following
such Plan Cycle.

             (e) The quotient determined in Section 9.4(d) above shall be
rounded to the nearest whole share. No fractional shares of restricted stock
shall be awarded.

         9.5 RESTRICTIONS. It is currently anticipated that the restricted
period, with respect to the Restricted Stock Plan restrictions on all restricted
stock awarded hereunder shall fully expire, on the earliest of (i) the
Participant's death, (ii) the Participant's Disability, (iii) Effective Date of
a Change in Control or (iv) one year after the date of the restricted stock
award.

         9.6 ALTERNATIVES TO THE RESTRICTED STOCK PLANS. If the Restricted Stock
Plans are terminated at any time and a new plan is adopted which provides
similar benefits or is intended to replace the Restricted Stock Plans, then such
new plan shall be utilized for making the restricted stock grant. Should no
restricted stock plan be available the amount of the restricted stock payment
will, at the sole discretion of the Corporation, be made in an alternative form

                                      -13-
<PAGE>   14

which would not restrict receipt of shares of the Corporation's common stock
beyond the period of time provided in the anticipated restricted stock grant, or
in cash.

                             ARTICLE 10. FORFEITURES
                             -----------------------

         Notwithstanding any provision in this Plan to the contrary excepting
only the provisions of Article 11, in the event the Committee finds:

             (a) that an Employee or former Employee who has an interest under
this Plan has been discharged by his Employer in the reasonable belief (and such
reasonable belief is the reason or one of the reasons for such discharge) that
the Employee or former Employee did engage in fraud against the Employer or
anyone else, or

             (b) that an Employee or former Employee who has an interest under
this Plan has been convicted of a crime as a result of which it becomes illegal
for his Employer to employ him, then any amounts held under this Plan for the
benefit of such Employee or former Employee or his beneficiaries shall be
forfeited and no longer payable to such Employee or former Employee or to any
person claiming by or through such Employee or former Employee.

                          ARTICLE 11 CHANGE IN CONTROL
                          ----------------------------

         11.1 TREATMENT OF TOTAL AWARDS. In the event of a Change in Control,
the Corporation shall pay to each Participant who is participating in a Plan
Cycle on the Implementation Date of such Change in Control, a lump sum cash
payment equal to the amount hereinafter determined. Such payment shall be paid
in cash to the Participant within five business days after the Implementation
Date of the Change in Control and shall be payment in full to each Participant
for the Plan Cycle, and such Plan Cycle shall be deemed terminated by operation
of this Article 12. No further Plan Cycles shall commence thereafter under this
Plan. Such cash payment shall be made without regard to any request to defer
made with respect to any such Plan Cycle (which shall be inoperative) and
without regard to any deferral action by the Committee.

                                      -14-
<PAGE>   15

         11.2 AMOUNT OF PAYMENT. The amount of the payment to be made as a
consequence of a Change in Control with respect to the Plan Cycle ending on the
Effective Date of the Change in Control, shall be equal to the maximum Total
Award which could be paid hereunder for the full Plan Cycle to each Participant
only pro-rated, however, to reflect late commencement of participation in a Plan
Cycle and/or promotions or maximum Total Award during a Plan Cycle, consistent
with Sections 3.4 and 3.5 of the Plan.

         11.3 DEFINITION OF CHANGE IN CONTROL. "Change in Control" shall mean
the occurrence of any of the following events:

             (a) The Corporation is merged, consolidated or reorganized into or
with another corporation or other legal person, and as a result of such merger,
consolidation or reorganization less than sixty-five percent of the combined
voting power of the then-outstanding securities of such corporation or person
immediately after such transaction are held in the aggregate by the holders of
Voting Stock of the Corporation immediately prior to such transaction;

             (b) The Corporation sells or otherwise transfers all or
substantially all of its assets to another corporation or other legal person,
and as a result of such sale or transfer less than sixty-five percent of the
combined voting power of the then-outstanding Voting Stock of such corporation
or person immediately after such sale or transfer is held in the aggregate by
the holders of Voting Stock of the Corporation immediately prior to such sale or
transfer;

             (c) The Corporation files a report or proxy statement with the
Securities and Exchange Commission pursuant to the Exchange Act disclosing in
response to Form 8-K or Schedule 14A (or any successor schedule, form or report
or item therein) that a change in control of the Corporation has occurred or
will occur in the future pursuant to any then-existing contract or transaction;
or

             (d) If, during any period of two consecutive years, individuals who
at the beginning of any such period constitute the Directors of the Corporation
cease for any reason to constitute at least a majority thereof; PROVIDED,
HOWEVER, that for purposes of this clause (d) each

                                      -15-
<PAGE>   16

Director who is first elected, or first nominated for election by the
Corporation's stockholders, by a vote of at least two-thirds of the Directors of
the Corporation (or a committee thereof) then still in office who were Directors
of the Corporation at the beginning of any such period will be deemed to have
been a Director of the Corporation at the beginning of such period.

             (e) Notwithstanding the foregoing provisions of Sections 11.3(a),
11.3(b) or 11.3(c), in the case where the individuals who constitute the
Directors of the Corporation at the time a specific transaction described in
Sections 11.3(a), 11.3(b) or 11.3(c) is first presented or disclosed to the
Board will, by the terms of the definitive agreement for that transaction,
constitute at least a majority of the members of the board of directors of the
resulting corporation or person immediately following such transaction, then,
prior to the occurrence of any event that would otherwise constitute a Change in
Control under any of the foregoing provisions of this Section 11.3, the Board
may determine by majority vote of the Board that the specific transaction does
not constitute a Change in Control under Sections 11.3(a), 11.3(b) or 11.3(c).

         11.4 EFFECTIVE DATE OF CHANGE IN CONTROL. Notwithstanding the
foregoing, in the event a Change in Control ultimately results from discussions
or negotiations involving the Corporation or any of its officers or directors,
the "Effective Date" of such Change in Control shall be the date uninterrupted
discussions or negotiations commenced; otherwise, such Effective Date of a
Change in Control shall be the Implementation Date of such Change in Control.

         11.5 IMPLEMENTATION DATE OF CHANGE IN CONTROL. The "Implementation
Date" shall be the earliest to occur of the events specified in Section 11.3. As
used herein, the Implementation Date of a Change in Control shall be the last
date of the then current Plan Cycle.

         11.6 EFFECT OF CHANGE IN CONTROL. In addition to other vesting under
the Plan, the opportunity of a Participant to participate until the current Plan
Cycle ends or is terminated is vested in such Participant in the event of a
Change in Control, as of the Effective Date of such Change in Control.

                                      -16-
<PAGE>   17

                            ARTICLE 12. MISCELLANEOUS
                            -------------------------

         In the event of the liquidation of the Corporation the Committee may
make any provisions for holding, handling and distributing the amounts standing
to the credit of the Participants or beneficiaries hereunder which, in the
discretion of the Committee which in the discretion of the Committee, are
appropriate and equitable under all circumstances and which are consistent with
the spirit and purposes of these provisions.

                    ARTICLE 13. AMENDMENT AND DISCONTINUANCE
                    ----------------------------------------

         The Corporation expects to continue this Plan indefinitely, but
reserves the right, by action of the Committee, to amend it from time to time,
or to discontinue it if such a change is deemed necessary or desirable except
that stockholder approval shall be required for any amendment or modification of
this Plan that, in the opinion of the Corporation's counsel, would be required
by Section 162(m) of the Internal Revenue Code of 1986, as amended, or any
regulations promulgated thereunder. However, if the Committee should amend or
discontinue this Plan, the Corporation shall remain obligated under the Plan
with respect to (1) Total Awards made final (and thus payable) by decision by
the Committee prior to the date of such amendment or discontinuance, and (2)
Total Awards and rights of any Participant or beneficiary with respect to whom a
Vesting Event has occurred.

         Executed this 23rd day of October, 2000 at Cleveland, Ohio.

                                                     NATIONAL CITY CORPORATION

                                                     By: /s/ Shelley J. Seifert
                                                        ------------------------

                                      -17-

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