Document:

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                                                                   EXHIBIT 10.22

                              COMERICA INCORPORATED
                  1999 COMMON STOCK DIRECTOR FEE DEFERRAL PLAN

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                           COMERICA INCORPORATED 1999
                     COMMON STOCK DIRECTOR FEE DEFERRAL PLAN

                                TABLE OF CONTENTS

SECTION I - PURPOSE............................................................1

SECTION II - DEFINITIONS.......................................................1

SECTION III - ELIGIBILITY......................................................2

SECTION IV - PROCEDURES RELATING TO DEFERRALS..................................2

SECTION V - CREDITING OF EARNINGS TO ACCOUNTS..................................4

SECTION VI - DISTRIBUTION OF DEFERRED FEES.....................................4

SECTION VII - DESIGNATION OF BENEFICIARY.......................................5

SECTION VIII - MISCELLANEOUS PROVISIONS........................................6

EXHIBIT A1 - NOTICE OF ELECTION TO DEFER....................................A1-1

EXHIBIT A2 - NOTICE OF ELECTION TO DEFER....................................A2-1

EXHIBIT B - NOTICE OF CANCELLATION OF DEFERRAL ELECTION......................B-1

EXHIBIT C - BENEFICIARY DESIGNATION FORM.....................................C-1

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                        COMERICA INCORPORATED 1999 COMMON
                        STOCK DIRECTOR FEE DEFERRAL PLAN

SECTION I - PURPOSE

The purpose of this Common Stock Plan is to allow eligible directors to defer
their compensation, under the conditions provided herein, into the Company Stock
Unit Account. All funds in the Company Stock Unit Account are hypothetically
invested in the common stock of the Company. At least one-half of the Director
Fees of each eligible director of the Company must be deferred into the Company
Stock Unit Account. The remaining Director Fees of an eligible director of the
Company may be deferred in any portion as requested by each director. Eligible
directors of any Subsidiary of the Company or Advisory Board may defer any
portion of their compensation under this Common Stock Plan.

SECTION II - DEFINITIONS

The following words and phrases, wherever capitalized, shall have the following
meanings respectively:

         A. "Advisory Board" means a special board of directors appointed to
advise a Subsidiary of the Company.

         B. "Beneficiary(ies)" means such individual(s) or entity(ies)
designated on the most recent Beneficiary Designation the director has submitted
to the Corporate Secretary.

         C. "Beneficiary Designation" means a beneficiary designation on the
form attached hereto as Exhibit "C", as such form may be modified by the Plan
Administrator from time to time.

         D. [Intentionally Left Blank]

         E. "Code" means the Internal Revenue Code of 1986, as amended.

         F. "Committee" means the Directors' Committee of the Board of Directors
of Comerica Incorporated.

         G. "Company " means Comerica Incorporated, a Delaware corporation.

         H. "Common Stock Plan" means the "Comerica Incorporated 1999 Common
Stock Director Fee Deferral Plan," the provisions of which are set forth herein,
as it may be amended from time to time.

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         I. "Company Stock Unit Account" means an account established under
Section V of this Common Stock Plan in the name of each director to record those
fees that are deferred under this Common Stock Plan on the director's behalf and
earnings thereon.

         J. "Corporate Secretary" means the Secretary of Comerica Incorporated.

         K. "Deferral Election" means a written notice to defer the payment of
director fees on one of the applicable forms attached hereto as Exhibits "A-1 or
A-2", as such form may be modified by the Plan Administrator from time to time.

         L. "Director Fees" means a director's annual retainer, fees for
attending board meetings, fees for attending meetings of any committee of the
board, if any, and fees for serving as chairman of any committee of the board.
At least one-half (or other fractional portion as determined by the Committee)
of the Director Fees of each eligible director of the Company (not the directors
of any Subsidiary of the Company or Advisory Board of a Subsidiary of the
Company) shall be automatically deferred and allocated, on the director's
behalf, into the Company Stock Unit Account designated for each director.

         M. "Participant" means an eligible director for whom a Company Stock
Unit Account is maintained under the Common Stock Plan.

         N. "Plan Administrator" means one or more individuals appointed by the
Committee to handle the day-to-day administration of the Common Stock Plan.

         O. "Subsidiary" means any corporation, partnership or other entity, a
majority of whose stock or interests is owned by Comerica Incorporated.

         P. "Unforeseeable Emergency" means a severe financial hardship to the
Participant resulting from a sudden and unexpected illness or accident of the
Participant or of a dependent (within the meaning of Code Section 152(a)) of the
Participant, loss of the Participant's property due to casualty, or other
similar extraordinary and unforeseeable circumstances arising as a result of
events beyond the control of the Participant.

SECTION III - ELIGIBILITY

Each director of the Company and, each director of any Subsidiary of the
Company, and each director of any Advisory Board of a Subsidiary of the Company
shall be eligible to participate in the Common Stock Plan provided any such
director is not an employee of the Company or an employee of any Subsidiary of
the Company.

SECTION IV - PROCEDURES RELATING TO DEFERRALS

         A. Deferral of Director Compensation.

         1. Mandatory Deferrals for Directors of the Company. At least one-half
of the Director Fees of each of the Company's directors shall be automatically
deferred to and recorded in each individual director's Company Stock Unit
Account and shall not otherwise be subject to

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any other Deferral Election (other than length of deferral and schedule of
pay-out). The remainder of the Director Fees of a Company director may be
deferred under this Common Stock Plan or as provided in Comerica Incorporated's
1999 Discretionary Director Fee Deferral Plan. The minimum period of deferral
for Director Fees deferred pursuant to this Section IV (A) shall be the lesser
of the number of years remaining before regular retirement or five years. In the
event a Company director does not indicate the period of deferral, such fees
shall be deferred for a period of five years and paid out in a single lump sum.

               2. Deferral for Directors of any Subsidiary. Directors of any
Subsidiary of the Company may defer any portion of their compensation under this
Common Stock Plan or Comerica Incorporated's 1999 Discretionary Director Fee
Deferral Plan. The minimum period of deferral for Director Fees deferred
pursuant to this Section IV (A) shall be the lesser of the number of years
remaining before regular retirement or five years. In the event a director of
any Subsidiary of the Company does not indicate the period of deferral, such
fees shall be deferred for a period of five years and paid out in a single lump
sum.

               3. Deferral for Directors of any Advisory Board. Directors of an
Advisory Board of any Subsidiary of the Company may defer any portion of their
compensation under this Common Stock Plan or Comerica Incorporated's 1999
Discretionary Director Fee Deferral Plan. The minimum period of deferral for
Director Fees deferred pursuant to this Section IV (A) shall be the lesser of
the number of years remaining before regular retirement or five years. In the
event a director of an Advisory Board of any Subsidiary of the Company does not
indicate the period of deferral, such fees shall be deferred for a period of
five years and paid out in a single lump sum.

B. Deferral Procedures. Any director wishing to defer Director Fees which are
subject to a Deferral Election must submit a Deferral Election to the Corporate
Secretary at 500 Woodward, MC 3391, Detroit, Michigan 48226-3391 or such other
person designated by the Chief Executive Officer of the Company from time to
time, prior to the beginning of the service year during which the fees are to be
earned (from annual meeting of shareholders to annual meeting of shareholders).
However, any newly-appointed or newly-elected director may submit a Deferral
Election within sixty days of his or her appointment or election. A Deferral
Election must cover all of an individual's Director Fees which are subject to an
automatic allocation into the Common Stock Unit Account, as determined by the
Committee.

               1. Irrevocability. A director may not modify or revoke a Deferral
               Election (except to the extent permitted to reallocate among
               investment options), once the director has performed the services
               that entitle the director to the fees. If a director has
               submitted a Deferral Election relating to fees to be earned in
               the future, he or she may modify such election by submitting a
               new Deferral Election prior to the beginning of the calendar year
               in which the fees will be earned. Any such Deferral Election will
               supersede any previous Deferral Election as it relates to fees to
               be earned in future years.

               2. Cancellation. A Deferral Election may be canceled by
               submitting a Cancellation of Deferral Election in form and
               substance as provided in Exhibit B attached hereto, as such form
               may be modified by the Plan Administrator from time to time.

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               A director who cancels a Deferral Election may not submit a new
               Deferral Election before at least twelve months have elapsed from
               the effective date of the cancellation.

SECTION V - CREDITING OF EARNINGS TO ACCOUNTS

Director Fees which have been deferred under the Common Stock Plan shall be
credited to Common Stock Unit Accounts which are recorded on the books of the
Company. As of the last day of each month or on a more frequent basis if
practicable, the Company Stock Unit Account shall be adjusted as follows:

         Company Stock Unit Accounts shall be "hypothetically invested" in the
         common stock of the Company. In the event the Company has established a
         rabbi trust for its own benefit to fund the Company's obligations under
         this Common Stock Plan, the purchase price for the Company stock units
         shall be the actual price of the shares the Company purchases on the
         open market on the day of the deferral of the Director Fees. In the
         event that the Company has not established a rabbi trust, the purchase
         price shall be based upon the closing price for the stock on the New
         York Stock Exchange on the day that the Director Fees would have
         otherwise been paid to the director had they not been deferred. No
         director shall have any right to vote any shares of the Company's stock
         held in the rabbi trust except to the extent otherwise permitted by the
         terms of the rabbi trust.

         1.    The account shall first be charged with any distributions made
               during the month or on a more frequent basis if practicable;

         2.    The account shall then be credited with earnings, gains and
               losses for the month or on a more frequent basis if practicable
               based upon the closing price for Company common stock on the New
               York Stock Exchange as of the last day of such month, plus any
               dividends paid during such period.

         3.    The account shall then be credited with the amount, if any, of
               Director Fees deferred and designated to be credited to such
               account during such month.

SECTION VI - DISTRIBUTION OF DEFERRED FEES

         A. Time and Manner. Distribution of the Participant's accounts shall be
made in cash at such time and in such manner, i.e., a lump sum or installments,
as the Participant has specified in the Deferral Election(s) submitted to the
Corporate Secretary or as otherwise required by Section IV(A).

         B. Installment Payments. Installment payments under an installment
payment option may not exceed ten years. The amount of each installment payment
shall be determined by multiplying the balance of the Company Stock Unit Account
on the date the installment is scheduled to be paid by a fraction, the numerator
of which is one and the denominator of which is the number of unpaid
installments remaining at such time. If a Participant who is

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receiving installment payments dies prior to receiving the balance of his or her
account, the unpaid balance shall be paid in one lump sum to the Participant's
Beneficiary(ies) not later than the 15th day of the month following the month in
which the Participant's death occurred.

         C. Hardship Distributions. In the event of an Unforeseeable Emergency
involving a Participant which occurs prior to distribution of the entire balance
of the Participant's Company Stock Unit Account, the Committee may, in its sole
discretion, distribute to the Participant in a single sum an amount equal to
such portion of such account as shall be necessary, in the judgment of the
Committee, to alleviate the financial hardship occasioned by the Unforeseeable
Emergency. Any Participant desiring a distribution under the Common Stock Plan
on account of an Unforeseeable Emergency shall submit to the Committee a written
request for such distribution which sets forth in reasonable detail the
Unforeseeable Emergency which would cause the Participant severe financial
hardship, and the amount which the Participant believes to be necessary to
alleviate the financial hardship. In determining whether to grant any requested
hardship distribution, the Committee shall adhere to the requirements of Section
1.457-2(h)(4) of the Income Tax Regulations (or to any successor regulations
dealing with the same subject matter), the provisions of which are incorporated
herein by reference.

         D. Cash Out Distributions. If, at the time an installment distribution
of a Company Stock Unit Account in the name of any Participant is scheduled to
commence, the fair market value of such account does not exceed $10,000, then,
notwithstanding an election by the Participant that such account be distributed
in installments, the balance of such account shall be distributed to the
Participant in a single sum on or about the date the first installment is
scheduled to be made.

SECTION VII - DESIGNATION OF BENEFICIARY

Upon becoming a Participant of the Common Stock Plan, each director shall submit
to the Corporate Secretary or such other person designated by the Chief
Executive Officer of the Company from time to time a Beneficiary Designation in
form and substance as provided in Exhibit C attached hereto, as such form may be
modified by the Plan Administrator from time to time, designating one or more
Beneficiaries to whom payments otherwise due the Participant shall be made in
the event of the Participant's death before distribution of the Participant's
Company Stock Unit Account has been completed. A Beneficiary Designation will be
effective only if it is signed by the Participant and submitted to the Corporate
Secretary before the Participant's death. Any Beneficiary Designation submitted
to the Corporate Secretary will supersede any previous Beneficiary Designation
so submitted. If the primary beneficiary shall predecease the Participant or the
primary beneficiary and the Participant die in a common disaster under such
circumstances that it is impossible to determine who survived the other, amounts
remaining unpaid at the time of the Participant's death shall be paid to the
alternate beneficiary(ies) who survive the Participant. If there are no
alternate beneficiaries living or in existence at the date of the Participant's
death, the balance of the account shall be paid in one lump sum to the legal
representative of the Participant's estate.

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SECTION VIII - MISCELLANEOUS PROVISIONS

         A. Nonalienation of Benefits. Neither the Participant nor any
Beneficiary designated by him or her shall have any right to alienate, assign,
or encumber any amount that is or may be payable hereunder, nor may any such
amount be subject to attachment, garnishment, levy, execution or other legal or
equitable process for the debts, contracts, liabilities, engagements or acts of
any Participant or Beneficiary.

         B. Administration of Common Stock Plan. Full power and authority to
construe, interpret, and administer the Plan shall be vested in the Directors'
Committee of the Board of Directors of the Company. To the extent permitted by
law, the Committee may delegate any authority it possesses to the Common Stock
Plan Administrator. To the extent the Committee has delegated authority
concerning a matter to the Plan Administrator, any reference in the Common Stock
Plan to the "Committee" insofar as it pertains to such matter, shall refer
likewise to the Plan Administrator. Decisions of the Committee shall be final,
conclusive, and binding upon all parties.

         C. Amendment or Termination. The Board of Directors of the Company may
amend or terminate this Common Stock Plan at any time. Any amendment or
termination of this Common Stock Plan shall not affect the rights of
Participants or Beneficiaries to the amounts in the Company Stock Unit Account
at the time of such amendment or termination. The Common Stock Plan
Administrator may make any amendments to the Common Stock Plan, including forms
under the Common Stock Plan, recommended by the Company's legal counsel which
are necessary or appropriate to keep the Common Stock Plan and forms in
compliance with applicable laws. The Company reserves the right to accelerate
distribution of fees deferred hereunder in the event the Common Stock Plan is
terminated.

         D. Effective Date. This Common Stock Plan is intended to constitute an
amendment and restatement of a prior Plan maintained by the Company captioned
"Comerica Incorporated Director Fee Deferral Plan". The Common Stock Plan was
approved by the Board of Directors of Company on May 21, 1999. The version of
the Common Stock Plan contained in this document shall be effective to defer
monies to be earned from and after January 1, 1997, and the earnings rate
contained in this version of the Common Stock Plan shall apply to existing
accounts under the Common Stock Plan beginning January 1, 1997. Except for the
earnings rate, monies deferred under prior versions of the Common Stock Plan
shall remain subject to prior deferral notices.

         E. Statements to Participants. Statements will be provided to
Participants under the Common Stock Plan on at least an annual basis.

         F. Nonforfeitability of Participant Accounts. Each Participant shall be
fully vested in his or her Company Stock Unit Account.

         G. Successors Bound. The contractual agreement between Comerica
Incorporated and each Participant resulting from the execution of a Deferral
Election shall be binding upon and inure to the benefit of Comerica
Incorporated, its successors and assigns, and to the

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Participant and to the Participant's heirs, executors, administrators and other
legal representatives.

         H. Governing Law and Rules of Construction. This Common Stock Plan
shall be governed in all respects, whether as to construction, validity or
otherwise, by applicable federal law and, to the extent that federal law is
inapplicable, by the laws of the State of Michigan. Each provision of this
Common Stock Plan shall be treated as severable, to the end that, if any one or
more provisions shall be adjudged or declared illegal, invalid or unenforceable,
this Common Stock Plan shall be interpreted, and shall remain in full force and
effect, as though such provision or provisions had never been contained herein.
It is the intention of Comerica Incorporated that the Common Stock Plan
established hereunder be "unfunded" for income tax purposes, whether or not the
Company establishes a rabbi trust, and the provisions hereof shall be construed
in a manner to carry out that intention.

         I. Ownership of Fee Deferrals. Title to and beneficial ownership of any
assets, of whatever nature, which may be allocated by Company to any Company
Stock Unit Account in the name of any Participant shall at all times remain with
Company, and no Participant or Beneficiary shall have any property interest
whatsoever in any specific assets of Company by reason of the establishment of
the Common Stock Plan. The rights of each Participant and Beneficiary hereunder
shall be limited to enforcing the unfunded, unsecured promise of Company to pay
benefits under the Common Stock Plan, and the status of any Participant or
Beneficiary shall be that of an unsecured general creditor of Company.

                                      -7-

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                                                                    EXHIBIT "A1"

                              COMERICA INCORPORATED
                           DIRECTOR FEE DEFERRAL PLANS

               FORM APPLICABLE TO COMERICA INCORPORATED DIRECTORS

                         NOTICE OF ELECTION TO DEFER AND
                    DISTRIBUTION OF DEFERRED DIRECTORS' FEES

A DIRECTOR WHO WISHES TO DEFER FEES PURSUANT TO THE COMERICA INCORPORATED 1999
COMMON STOCK DIRECTOR FEE DEFERRAL PLAN OR COMERICA INCORPORATED 1999
DISCRETIONARY DIRECTOR FEE DEFERRAL PLAN (COLLECTIVELY CALLED "PLANS") SHOULD
CHECK APPLICABLE BOXES, SIGN AND DATE THE FORM AND RETURN IT TO:

                                ALBERT P. TAYLOR
                              COMERICA INCORPORATED
                                500 WOODWARD AVE
                               31ST FLOOR, MC 3382
                          DETROIT, MICHIGAN 48226-3382

A. I SERVE AS DIRECTOR ON THE COMERICA INCORPORATED BOARD

B. ELECTION TO DEFER FEES. PURSUANT TO PROVISIONS OF THE ABOVE REFERENCED PLANS,
I HEREBY ELECT TO HAVE THE FEES WHICH ARE PAYABLE TO ME FOR RENDERING SERVICES
AS A MEMBER OF THE BOARD OF DIRECTORS OF COMERICA INCORPORATED DEFERRED IN THE
MANNER SPECIFIED BELOW. I UNDERSTAND THAT AT LEAST ONE-HALF OF MY DIRECTOR FEES
SHALL BE DEFERRED INTO THE COMERICA COMMON STOCK FUND. I UNDERSTAND AND AGREE
THAT THIS ELECTION SHALL BECOME EFFECTIVE ON THE DATE OF THE ANNUAL MEETING OF
SHAREHOLDERS IMMEDIATELY FOLLOWING RECEIPT OF THIS NOTICE OF ELECTION BY THE
OFFICE OF THE CHAIRMAN OF COMERICA INCORPORATED OR ON THE FIRST DAY OF THE MONTH
FOLLOWING RECEIPT BY SUCH IF I AM A NEWLY ELECTED DIRECTOR OF COMERICA
INCORPORATED. I UNDERSTAND THAT THIS ELECTION SHALL BE IRREVOCABLE WITH RESPECT
TO FEES ONCE I HAVE PERFORMED THE SERVICES WHICH ENTITLE ME TO RECEIVE SUCH
FEES. THIS ELECTION SHALL CONTINUE IN EFFECT UNTIL I MODIFY OR REVOKE IT.

C. PERCENTAGE OF FEES TO BE DEFERRED:

MANDATORY                           50%     COMERICA COMMON STOCK FUND

                                      A1-1

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DISCRETIONARY
(SELECT UP TO 50%)
                           ____     COMERICA COMMON STOCK FUND

                           ____     MUNDER INDEX 500 FUND

                           ____     MUNDER BOND FUND

                           ____     MUNDER SHORT TERM BOND FUND

                           ____     MUNDER SMALL COMPANY GROWTH FUND

                           ____     MUNDER CASH INVESTMENT FUND

D.       YEAR DISTRIBUTION OF DEFERRED FEES IS TO COMMENCE (MUST BE A MINIMUM OF
         5 YEARS, EXCEPT IN THE CASE OF RETIREMENT, IN WHICH CASE PAYMENTS MAY
         BEGIN IN THE YEAR OF RETIREMENT): 20__

PAYMENTS WILL BE MADE OR COMMENCE ON MAY 30TH OF THE YEAR SELECTED.

E.       PAYMENT METHOD DESIRED:

         ___      LUMP SUM

         ___      INSTALLMENTS OVER _____ YEARS (YOU MAY CHOOSE 2, 5 OR 10
                  YEARS). (THE BALANCE OF ANY FEE DEFERRAL ACCOUNT WILL BE
                  DISTRIBUTED IN ONE LUMP SUM TO THE DIRECTORS DESIGNATED
                  BENEFICIARY IF THE DIRECTOR DIES BEFORE RECEIPT OF ALL
                  INSTALLMENT PAYMENTS).

         FREQUENCY OF INSTALLMENTS:

         ___      ANNUALLY

         ___      EVERY 3 MONTHS

DATE:    MAY 21, 1999                              _____________________________
                                                   SIGNATURE OF DIRECTOR

Name           _______________________________

Address        _______________________________

               _______________________________

Social Security # ____________________________

                                      A1-2

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                                                                    EXHIBIT "A2"

                              COMERICA INCORPORATED
                           DIRECTOR FEE DEFERRAL PLANS

                  FORM APPLICABLE TO BANK OR ADVISORY DIRECTORS

                         NOTICE OF ELECTION TO DEFER AND
                    DISTRIBUTION OF DEFERRED DIRECTORS' FEES

A DIRECTOR WHO WISHES TO DEFER FEES PURSUANT TO THE TERMS OF THE COMERICA
INCORPORATED 1999 COMMON STOCK DIRECTOR FEE DEFERRAL PLAN OR THE COMERICA
INCORPORATED 1999 DISCRETIONARY DIRECTOR FEE DEFERRAL PLAN (COLLECTIVELY CALLED
"PLANS") SHOULD CHECK APPLICABLE BOXES, COMPLETE THE OTHER PORTIONS OF THE FORM,
SIGN AND DATE THE FORM AND RETURN IT TO:

                                ALBERT P. TAYLOR
                              COMERICA INCORPORATED
                                500 WOODWARD AVE
                               31ST FLOOR, MC 3382
                          DETROIT, MICHIGAN 48226-3382

A.       BOARD ON WHICH I SERVE AS DIRECTOR:

         ___      COMERICA BANK
         ___      COMERICA BANK- CALIFORNIA
         ___      COMERICA BANK - TEXAS
         ___      COMERICA ADVISORY BOARD

B.       ELECTION TO DEFER FEES. PURSUANT TO PROVISIONS OF THE ABOVE REFERENCED
         PLANS, I HEREBY ELECT TO HAVE THE FEES SPECIFIED BELOW WHICH BECOME
         PAYABLE TO ME FOR RENDERING SERVICES AS A MEMBER OF THE BOARD OF
         DIRECTORS ON WHICH I SERVE DEFERRED IN THE MANNER SPECIFIED BELOW. I
         UNDERSTAND AND AGREE THAT THIS ELECTION SHALL BECOME EFFECTIVE ON THE
         DATE OF THE ANNUAL MEETING OF SHAREHOLDERS, IMMEDIATELY FOLLOWING
         RECEIPT OF THIS ELECTION BY THE OFFICE OF THE CHAIRMAN OF COMERICA
         INCORPORATED OR ON THE FIRST DAY OF THE MONTH FOLLOWING RECEIPT BY SUCH
         IF I AM A NEWLY ELECTED DIRECTOR OF COMERICA. I UNDERSTAND THAT THIS
         ELECTION SHALL BE IRREVOCABLE WITH RESPECT TO FEES ONCE I HAVE
         PERFORMED THE SERVICES WHICH ENTITLE ME TO RECEIVE SUCH FEES. THIS
         ELECTION SHALL CONTINUE IN EFFECT UNTIL I MODIFY OR REVOKE IT.

                                      A2-1

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C.       PERCENTAGE OF FEES TO BE DEFERRED

         DISCRETIONARY
         (SELECT UP TO 100%)
                           _______ COMERICA COMMON STOCK FUND

                           _______ MUNDER INDEX 500 FUND

                           _______ MUNDER BOND FUND

                           _______ MUNDER SHORT TERM BOND FUND

                           _______ MUNDER SMALL COMPANY GROWTH FUND

                           _______ MUNDER CASH INVESTMENT FUND

D.       YEAR DISTRIBUTION OF DEFERRED FEES IS TO COMMENCE:    20__
         PAYMENTS WILL BE MADE OR COMMENCE ON MAY 30TH OF THE YEAR SELECTED.

E.       PAYMENT METHOD DESIRED:

         ___      LUMP SUM

         ___      INSTALLMENTS OVER _____ YEARS (YOU MAY CHOOSE 2, 5 OR 10
                  YEARS). (THE BALANCE OF ANY FEE DEFERRAL ACCOUNT WILL BE
                  DISTRIBUTED IN ONE LUMP SUM TO THE DIRECTORS DESIGNATED
                  BENEFICIARY IF THE DIRECTOR DIES BEFORE RECEIPT OF ALL
                  INSTALLMENT PAYMENTS).

         FREQUENCY OF INSTALLMENTS:

         ___      ANNUALLY

         ___      EVERY 3 MONTHS

DATE:    MAY 21, 1999                                ___________________________
                                                     SIGNATURE OF DIRECTOR

NAME           _________________________________

ADDRESS        _________________________________

               _________________________________

SOCIAL SECURITY # ______________________________

                                      A2-2

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                                                                     EXHIBIT "B"

                              COMERICA INCORPORATED
                           DIRECTOR FEE DEFERRAL PLAN

                   NOTICE OF CANCELLATION OF DEFERRAL ELECTION

         A DIRECTOR WHO WISHES TO CANCEL A DEFERRAL ELECTION SHOULD SIGN AND
DATE THIS FORM AND RETURN IT TO:

                                  ALBERT TAYLOR
                              COMERICA INCORPORATED
                                500 WOODWARD AVE
                               31ST FLOOR, MC 3382
                          DETROIT, MICHIGAN 48226-3382

         PURSUANT TO PROVISIONS OF THE ABOVE REFERENCED PLAN, I HEREBY CANCEL MY
DEFERRAL ELECTION UNDER THE PLAN EFFECTIVE AS OF THE FIRST DAY OF THE MONTH
FOLLOWING YOUR RECEIPT OF THIS NOTICE OF CANCELLATION OF DEFERRAL ELECTION. THIS
CANCELLATION SHALL APPLY ONLY TO UNEARNED FEES THAT WOULD, BUT FOR THIS
CANCELLATION, BE DEFERRED UNDER MY PRIOR DEFERRAL ELECTION. ANY FEES I HAVE
PREVIOUSLY ELECTED TO DEFER THAT HAVE ALREADY BEEN EARNED THROUGH MY RENDERING
OF SERVICES SHALL REMAIN SUBJECT TO MY PRIOR DEFERRAL ELECTION.

DATE: __________________                             ___________________________
                                                     SIGNATURE OF DIRECTOR

NAME:          ___________________________________

ADDRESS:       ___________________________________

               ___________________________________

SOCIAL SECURITY # ________________________________

                                       B-1

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                                                                     EXHIBIT "C"

                              COMERICA INCORPORATED
                           DIRECTOR FEE DEFERRAL PLAN

                  NOTICE OF REALLOCATION OF INVESTMENT OPTIONS

         A DIRECTOR WHO WISHES TO REALLOCATE INVESTMENT OPTIONS OF DEFERRED
DIRECTOR FEES SHOULD SIGN AND DATE THIS FORM AND RETURN IT TO:

                                  ALBERT TAYLOR
                              COMERICA INCORPORATED
                                500 WOODWARD AVE
                               31ST FLOOR, MC 3382
                          DETROIT, MICHIGAN 48226-3382

         PURSUANT TO PROVISIONS OF THE COMERICA INCORPORATED 1999 DISCRETIONARY
DIRECTOR DEFERRAL FEE PLAN, I HEREBY CANCEL MY PREVIOUS INVESTMENT OPTION
ALLOCATION UNDER THE PLAN EFFECTIVE AS OF THE FIRST DAY OF THE MONTH FOLLOWING
YOUR RECEIPT OF THIS NOTICE OF REALLOCATION OF INVESTMENT OPTION. ANY FEES I
HAVE PREVIOUSLY ELECTED TO DEFER WILL BE REALLOCATED IN SUCH PORTIONS AND TO
SUCH FUND(S) AS DESIGNATED BELOW:

         PERCENTAGE OF FEES TO BE DEFERRED

         DISCRETIONARY
         (SELECT UP TO 100%)

                           _______ COMERICA COMMON STOCK FUND

                           _______ MUNDER INDEX 500 FUND

                           _______ MUNDER BOND FUND

                           _______ MUNDER SHORT TERM BOND FUND

                           _______ MUNDER SMALL COMPANY GROWTH FUND

                           _______ MUNDER CASH INVESTMENT FUND

_______________________________                                _________________
    SIGNATURE OF DIRECTOR                                             DATE

                                       C-1

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                                                                     EXHIBIT "D"

                              COMERICA INCORPORATED
                           DIRECTOR FEE DEFERRAL PLAN

                          BENEFICIARY DESIGNATION FORM

         A DIRECTOR WHO IS SUBMITTING AN ELECTION TO DEFER FEES SHOULD COMPLETE
THIS FORM, SIGN AND DATE IT AND RETURN IT TO:

                                  ALBERT TAYLOR
                              COMERICA INCORPORATED
                               500 WOODWARD AVENUE
                               31ST FLOOR, MC 3382
                          DETROIT, MICHIGAN 48226-3382

         PURSUANT TO THE PROVISIONS OF THE COMERICA INCORPORATED 1999 COMMON
STOCK DIRECTOR FEE DEFERRAL PLAN OR THE COMERICA INCORPORATED 1999 DISCRETIONARY
DIRECTOR FEE DEFERRAL PLAN (THE "PLAN), I HEREBY DESIGNATE THE PERSON(S) NAMED
BELOW AS BENEFICIARY OF ALL SUMS HELD UNDER THE PLAN WHICH ARE OWING TO ME AT
THE TIME OF MY DEATH.

A.       PRIMARY BENEFICIARY (CHECK ONE BOX AND PROVIDE RELATED INFORMATION):

         1. ___     MY SPOUSE.

               NAME OF SPOUSE ___________________  SOCIAL SECURITY#_____________

               ADDRESS _________________________________________________________

                       _________________________________________________________

         2. ___ THE SUCCESSOR TRUSTEE(S) OF MY REVOCABLE LIVING TRUST.

            CAPTION APPEARING ON TRUST AGREEMENT _______________________________

            DATE OF ORIGINAL OR AMENDED AND RESTATED TRUST AGREEMENT ___________

            EMPLOYER IDENTIFICATION NUMBER _____________________________________

         3. ___ THE EXECUTOR, ADMINISTRATOR OR PERSONAL REPRESENTATIVE OF MY
            ESTATE.

         4. ___ OTHER (EACH BENEFICIARY MUST BE OVER 18 YEARS OF AGE).

                                       D-1

<PAGE>   17

         A.    NAME OF BENEFICIARY _________________ SOCIAL SECURITY #__________

               RELATIONSHIP TO DIRECTOR ________________________________________

               ADDRESS  ________________________________________________________

                        ________________________________________________________

               PORTION OF ACCOUNT TO BE DISTRIBUTED TO THIS BENEFICIARY _______%

         B.    NAME OF BENEFICIARY _____________  SOCIAL SECURITY #_____________

               RELATIONSHIP TO DIRECTOR ________________________________________

               ADDRESS  ________________________________________________________

                        ________________________________________________________

               PORTION OF ACCOUNT TO BE DISTRIBUTED TO THIS BENEFICIARY _______%

               (IF YOU WISH TO NAME MORE THAN TWO BENEFICIARIES, PLEASE SUBMIT
               DUPLICATE COPIES OF THIS FORM AND INSERT APPROPRIATE PERCENTAGES.
               PLEASE SIGN AND DATE EACH COPY OF THIS FORM WHICH IS SUBMITTED.)

B.       ALTERNATE BENEFICIARY

         IF ALL PERSONS NAMED ABOVE AS MY PRIMARY BENEFICIARY PREDECEASE ME OR
SUCH PERSON(S) AND I DIE IN A COMMON DISASTER UNDER SUCH CIRCUMSTANCES THAT IT
IS IMPOSSIBLE TO DETERMINE WHO SURVIVED THE OTHER, THEN I DESIGNATE THE
FOLLOWING PERSON AS ALTERNATE BENEFICIARY TO RECEIVE THE SUMS THAT WOULD
OTHERWISE HAVE BEEN PAYABLE TO THE PRIMARY BENEFICIARY IF THE PRIMARY
BENEFICIARY HAD SURVIVED.

               NAME OF ALTERNATE BENEFICIARY ___________________________________

               SOCIAL SECURITY OR EIN # ________________________________________

               ADDRESS  ________________________________________________________

                        ________________________________________________________

                                       D-2

<PAGE>   18

         THIS DESIGNATION SUPERSEDES ANY PREVIOUS BENEFICIARY DESIGNATION I MAY
HAVE MADE WITH RESPECT TO DEFERRED FEES UNDER THE PLAN, INCLUDING PRIOR VERSIONS
OF THE PLAN. I RESERVE THE RIGHT TO CHANGE THE BENEFICIARY(IES) NAMED HEREIN IN
ACCORDANCE WITH THE TERMS OF THE PLAN. IF THERE ARE NO ALTERNATE BENEFICIARIES
LIVING OR IN EXISTENCE AT THE DATE OF MY DEATH, I UNDERSTAND THAT THE BALANCE OF
MY ACCOUNT WILL BE PAID TO THE LEGAL REPRESENTATIVE OF MY ESTATE.

_______________________________                              ___________________
   SIGNATURE OF DIRECTOR                                             DATE

_______________________________                              ___________________
   SIGNATURE OF WITNESS                                              DATE

                                      D-3<PAGE>   1

                                 EXHIBIT 10(f)
<PAGE>   2
                                                                   Exhibit 10(f)

                          SALARY CONTINUATION AGREEMENT

         THIS AGREEMENT is effective this 1st day of December, 1999, by and
between SOUTHSIDE BANCSHARES CORP. (the "Company"), with its principal place of
business in St. Louis, Missouri, and THOMAS M. TESCHNER (the "Executive").

                                  INTRODUCTION

         To encourage the Executive to remain an employee of the Company, the
Company is willing to provide salary continuation benefits to the Executive. The
Company will pay the benefits from its general assets.

                                    AGREEMENT

         The Executive and the Company agree as follows:

                                   ARTICLE 1
                                  DEFINITIONS

         1.1. Definitions. Whenever used in this Agreement, the following words
and phrases shall have the meanings specified:

                  1.1.1. "Change of Control" shall be deemed to have occurred as
of the first day any one more of the following conditions shall have been
satisfied:

                  (a) Any individual, corporation (other than the Company),
         partnership, trust, association, pool, syndicate, or any other entity
         or any group of persons (other than the Southside Bancshares Corp.1993
         Non-Qualified Employees Stock Ownership Plan) acting in concert becomes
         the beneficial owner, as that concept is defined in Rule 13d-3
         promulgated by the Securities and Exchange Commission under the
         Securities Exchange Act of 1934, as amended, of the securities of the
         Company possessing fifty percent (50%) or more of the voting power for
         the election of directors of the Company;

                  (b) There shall be consummated any consolidation, merger or
         other business combination involving the Company or the securities of
         the Company in which holders of voting securities of the Company, as
         the case may be, immediately prior to such consummation own, as a
         group, immediately after such consummation, voting securities of the
         Company, as the case may be (or if the Company does not survive such
         transaction(s), voting securities of the corporation(s) surviving such
         transaction(s)) having less than fifty percent (50%) of the total
         voting power in an election of the directors of the Company (or such
         other surviving corporation (s));

                  (c) During any period of two (2) consecutive years,
         individuals who at the beginning of such period constitute the
         directors of the Company cease for any reason to constitute at least a
         majority thereof;
<PAGE>   3
                  (d) Removal by the stockholders of the Company of all or a
         majority of the incumbent directors of the Company; or

                  (e) There shall be consummated any sale, lease, exchange, or
         other transfer (in one transaction or a series of related transactions)
         of all, or substantially all, of the assets of the Company (on a
         consolidated basis) to a party which is not controlled by or under
         common control with the Company, as the case may be.

                  1.1.2. "Code" means the Internal Revenue Code of 1986, as
         amended. References to a Code section shall be deemed to be to that
         section as it now exists and to any successor provision.

                  1.1.3. "Disability" means, if the Executive is covered by a
         Company sponsored disability insurance policy, total disability as
         defined in such policy without regard to any waiting period. If the
         Executive is not covered by such a policy, Disability means a physical
         or mental impairment, non-self-induced, as diagnosed by a medical
         doctor selected by the Company, that so incapacitates or disables
         Executive such that Executive is no longer able to perform the
         essential functions of his position with reasonable accommodation. As a
         condition to any benefits, the Company may require the Executive to
         submit to such physical or mental evaluations and tests as the
         Company's Board of Directors deems appropriate.

                  1.1.4. "Early Retirement Date" means the date the Executive
         attains age fifty-five (55).

                  1.1.5. "Early Retirement Percentage" means fifty percent (50%)
         on the date the Executive attains age fifty-five (55).

                  1.1.6. "Normal Retirement Date" means the date the Executive
         attains age sixty-five (65).

                  1.1.7. "Plan Year" means the twelve (12) consecutive month
         period beginning on the effective date of this Agreement and each
         anniversary thereof.

                  1.1.8. "Termination of Employment" or "Terminates Employment"
         means the Executive's ceasing to be employed by the Company for any
         reason whatsoever, voluntary or involuntary, other than by reason of an
         approved leave of absence.

                                       2
<PAGE>   4
                  1.1.9. "Discount Rate" shall mean eight percent (8%).

                                   ARTICLE 2
                                LIFETIME BENEFITS

         2.1. Normal Retirement Benefit. If Termination of Executive's
Employment occurs on or after the Normal Retirement Date, the Company shall pay
to the Executive the benefit described in this Section 2.1.

                  2.1.1. Amount of Benefit. The annual benefit under this
         Section 2.1 is One Hundred Ninety-three Thousand Five Hundred Dollars
         ($193,500.00), which annual amount will be increased each Plan Year,
         until the Executive's Normal Retirement Date, by three and one-half
         percent (3.5%) compounded annually.

                  2.1.2. Payment of Benefit. The Company shall pay the annual
         benefit determined under subsection 2.1.1 for a period not to exceed
         the earlier of fifteen (15) years from Executive's Termination of
         Employment or through the month the Executive dies. The Company's
         payments shall be made in equal monthly installments (1/12 of the
         annual benefit). These equal monthly payments to the Executive will
         begin on the last day of the month which follows the month of the
         Executive's retirement and continuing until the earlier of the
         expiration of one hundred eighty (180) months from the first payment or
         the month of the Executive's death.

         2.2. Early Retirement Benefit. If Termination of Executive's Employment
occurs on or after the Early Retirement Date but before the Normal Retirement
Date, the Company shall pay to the Executive the benefit described in this
Section 2.2.

                  2.2.1. Amount of Benefit. The annual benefit under this
         Section 2.2 is One Hundred Ninety-three Thousand Five hundred Dollars
         ($193,500.00) which annual amount will be increased each Plan Year,
         until the Executive retires, by three and one-half percent (3.5%)
         compounded annually, multiplied by the Early Retirement Percentage.
         Five percent (5%) will be added to the Early Retirement Percentage for
         each anniversary of the Early Retirement Date following such date on
         which the executive continues to be employed until the Early Retirement
         Percentage equals one hundred percent (100%).

                  2.2.2. Payment of Benefit. The Company shall pay the annual
         benefit determined under subsection 2.2.1 for a period not to exceed
         the earlier of fifteen (15) years from Executive's Termination of
         Employment or through the month the Executive dies. The Company's
         payments shall be made in equal monthly installments (1/12 of the
         annual benefit). These equal monthly payments to the Executive will
         begin on the last day of the month which follows the month of the
         Executive's retirement under this Section 2.2 and continuing until the
         earlier of the expiration of one hundred eighty (180) months from the
         first payment or the month of the Executive's death.

                                       3
<PAGE>   5
         2.3. Termination of Employment. If Termination of Employment occurs
before the Executive's Early Retirement Date, for reasons other than death or
Disability, the Company shall pay to the Executive the benefit described in this
Section 2.3.

                  2.3.1. Amount of Benefit. The benefit under this Section 2.3
         is the benefit set forth on the attached Schedule A based on the number
         of completed Plan Years of employment preceding the Executive's
         Termination of Employment multiplied by the vesting percentage at
         termination described in 2.3.2.

                  2.3.2. Vesting Schedule. The Executive shall vest at a rate of
         ten percent (10%) for each subsequently completed Plan Year that this
         Agreement is in force such that after ten (10) years the Executive
         shall be one hundred percent (100%) vested in the benefit.

                  2.3.3. Payment of Benefit. The Company shall pay the benefit
         in a single lump sum to the Executive within thirty (30) days following
         the Executive's Termination of Employment.

         2.4. Disability Benefit. If the Termination of Employment occurs while
the Executive suffers from a Disability prior to the Early Retirement Date, the
Company shall pay to the Executive the benefit described in this Section 2.4.

                  2.4.1. Amount and Payment of Benefit. Except as may be
         provided by Section 3.2 , the amount of benefit and method of payment
         under this Section 2.4 is established by the Executive with a written
         election and filed with the Company. The Company shall pay the elected
         amount to the Executive in accordance with the written election made by
         the Executive. The form of the election shall follow the form and
         content found on the attached Exhibit A. The attached Exhibit A,
         including the terms governing the Executive's election under this
         Section 2.4.1, are incorporated into this Agreement by reference.

         2.5. Change of Control Benefit. Upon a Change of Control while the
Executive is in the active service of the Company and (i) the Company thereafter
terminates the Executive; or (ii) the Executive terminates his employment after
either a change in job responsibilities or a reduction in the compensation paid
annually to the Executive prior to his Normal Retirement Date, then the Company
shall pay to the Executive the benefit described in this Section 2.5 in lieu of
any other benefit under this Agreement.

                  2.5.1. Amount and Payment of Benefit. The benefit under this
         Section 2.5 is one hundred percent (100%) of the benefit determined
         under Schedule A based on the number of completed Plan Years, in
         accordance with Schedule A, on the date of Termination of Employment.
         The Company shall pay this benefit to the Executive in a single lump
         sum within thirty (30) days from Termination of Employment following a
         Change in Control.

                                       4
<PAGE>   6
                  2.5.2. Parachute Payment. If it is determined that any portion
         of the benefit payment to the Executive under this Agreement
         constitutes a parachute payment under Section 280G of the Code subject
         to the excise tax of Section 4999 of the Code, the Executive shall be
         entitled to receive from the Company a lump sum cash payment sufficient
         to place the Executive in the same net after tax position that the
         Executive would have been in had such payment not been subject to such
         excise tax; provided, however, the Executive shall be entitled to a
         payment under this Section 2.5.2 only to the extent that the Executive
         is not entitled to an equivalent payment under any other agreement.

         2.6. Payment of Benefits in Pay Status. Upon a Change of Control where
benefits are in pay status to the Executive following the Executive's
retirement, death, or Disability, one hundred percent (100%) of the present
value of any remaining payments otherwise due pursuant to this Agreement will,
in lieu of such remaining payments, be paid in full in a lump sum within thirty
(30) days after a Change in Control. The Discount Rate shall be used to
determine present value.

                                   ARTICLE 3
                                 DEATH BENEFITS

         3.1 Death During Active Service. If the Executive dies while employed
by the Company and prior to receiving any payments under this Agreement, the
Company shall have no obligation to pay to the Executive's beneficiary any
amount under this Agreement.

         3.2 Death Subsequent to Either Retirement Date. If the Executive dies
subsequent to the date that he retires and while receiving payments under
Section 2.1 or Section 2.2 of this Agreement, the Company's obligation to make
the final payment under Section 2.1.2 or Section 2.2.2 on the last day of the
month of the Executive's death shall constitute the Company's final obligation
to pay the Executive or the Executive's estate under the terms of this
Agreement.

         3.3 Death During Disability. In the event of the Executive's death
following Termination of Employment while suffering a Disability, but where the
termination is prior to Early Retirement Age, the Company shall have no
obligation to pay to the Executive's beneficiary any amount under this
Agreement.

                                   ARTICLE 4
                               GENERAL LIMITATIONS

         Notwithstanding any provision of this Agreement to the contrary, the
  Company shall not pay any benefit under this Agreement:

         4.1. Termination for Cause. If the Company terminates the Executive's
employment for any of the following reasons:

                  4.1.1. Gross negligence or gross neglect of duties;

                                       5
<PAGE>   7
                  4.1.2. Commission of a felony or of a misdemeanor involving
         moral turpitude; or

                  4.1.3. Fraud, dishonesty or willful violation of any law or
         significant Company policy committed in connection with the Executive's
         employment and resulting in personal financial benefit to the Executive
         and in an adverse effect on the Company.

                                   ARTICLE 5
                          CLAIMS AND REVIEW PROCEDURES

         5.1. Claims Procedure. The Company shall notify the Executive in
writing, within ninety (90) days of his written application for benefits, of his
eligibility or ineligibility for benefits under the Agreement. If the Company
determines that the Executive is not eligible for benefits or full benefits, the
notice shall set forth (1) the specific reasons for such denial, (2) a specific
reference to the provisions of the Agreement on which the denial is based, (3) a
description of any additional information or material necessary for the claimant
to perfect his or her claim, and a description of why it is needed, and (4) an
explanation of the Agreement's claims review procedure and other appropriate
information as to the steps to be taken if the beneficiary wishes to have the
claim reviewed. If the Company determines that there are special circumstances
requiring additional time to make a decision, the Company shall notify the
Executive of the special circumstances and the date by which a decision is
expected to be made, and may extend the time for up to an additional ninety-day
period.

         5.2. Review Procedure. If the Executive is determined by the Company
not to be eligible for benefits, or if the Executive believes that he is
entitled to greater or different benefits, the Executive shall have the
opportunity to have such claim reviewed by the Company by filing a petition for
review with the Company within sixty (60) days after receipt of the notice
issued by the Company. Said petition shall state the specific reasons which the
Executive believes entitle him to benefits or to greater or different benefits.
Within sixty (60) days after receipt by the Company of the petition, the Company
shall afford the Executive (and counsel, if any) an opportunity to present his
position to the Company orally or in writing, and the Executive (or counsel)
shall have the right to review the pertinent documents. The Company shall notify
the Executive of its decision in writing within the sixty-day period, stating
specifically the basis of its decision, written in a manner calculated to be
understood by the Executive and the specific provisions of the Agreement on
which the decision is based. If, because of the need for a hearing, the
sixty-day period is not sufficient, the decision may be deferred for up to
another sixty-day period at the election of the Company, but notice of this
deferral shall be given to the Executive.

                                   ARTICLE 6
                           AMENDMENTS AND TERMINATION

         6.1. Amendment or Termination of Agreement After a Change in Control.
The Company may amend or terminate this Agreement at any time prior to the
Executive's Termination of Employment by written notice to the Executive;
provided, however, that if the Company amends or terminates this Agreement prior
to the Executive's Normal Retirement Date while the Executive is in the active
service of the Company and subsequent to a Change of

                                       6
<PAGE>   8
Control, then the Company shall pay the Executive one hundred percent (100%) of
the benefit determined under Schedule A based on the number of completed Plan
Years, in accordance with Schedule A, on the date of termination of this
Agreement. The Company shall pay this benefit to the Executive in a single lump
sum within thirty (30) days from Termination of Agreement following a Change in
Control.

         6.2. Amendment or Termination Prior to a Change in Control. The Company
may amend or terminate this Agreement at any time prior to a Change in Control
by written notice to the Executive.

                  6.2.1. Subsequent to Executive's Normal Retirement Date. In
         the event of any such amendment or termination after payment of
         benefits has commenced, the benefit the Executive shall be entitled is
         one hundred percent (100%) of the present value of any unpaid benefit
         under Article 2. The Discount Rate shall be used to determine present
         value. The Company shall pay the benefit under this Section 6.2.1 in a
         single lump sum payment within sixty (60) days of amendment or
         termination of this Agreement.

                  6.2.2. Prior to Executive's Normal Retirement Date. If
         amendment or termination of this Agreement under Section 6.2 occurs
         after the effective date of this Agreement and before payment of
         benefits has commenced, the Company shall pay the Executive an amount
         equal to one hundred percent (100%) of the amount of accrued benefit
         reflected in Schedule A based o completed Plan Years. The Company shall
         pay this benefit, if any, to the Executive in a single lump sum payment
         within sixty (60) days of Agreement amendment or termination.

                                   ARTICLE 7
                                  MISCELLANEOUS

         7.1. Binding Effect. This Agreement shall bind the Executive and the
Company, and their beneficiaries, survivors, executors, administrators and
permitted transferees.

         7.2. No Guaranty of Employment. This Agreement is not an employment
policy or contract. It does not give the Executive the right to remain an
employee of the Company, nor does it interfere with the Company's right to
discharge the Executive. It also does not require the Executive to remain an
employee nor interfere with the Executive's right to terminate employment at any
time.

         7.3. Non-Transferability. Benefits under this Agreement cannot be sold,
transferred, assigned, pledged, attached or encumbered in any manner.

         7.4. Tax Withholding. The Company shall withhold any taxes that are
required to be withheld from the benefits provided under this Agreement.

                                       7
<PAGE>   9
         7.5. Applicable Law. The Agreement and all rights hereunder shall be
governed by the laws of the State of Missouri, except to the extent preempted by
the laws of the United States of America.

         7.6. Unfunded Arrangement. The Executive is a general unsecured
creditor of the Company for the payment of benefits under this Agreement. The
benefits represent the mere promise by the Company to pay such benefits. The
rights to benefits are not subject in any manner to anticipation, alienation,
sale, transfer, assignment, pledge, encumbrance, attachment, or garnishment by
creditors. Any insurance on the Executive's life is a general asset of the
Company to which the Executive has no preferred or secured claim.

         7.7. Severability. Without limitation of any other section contained
herein, in case any one or more provisions contained in this Agreement shall for
any reason be held to be invalid, illegal or unenforceable in any other respect,
such invalidity, illegality or unenforceability shall not affect the other
provisions of this Agreement. This Agreement shall be construed as if such
invalid, illegal or unenforceable provision had never been a part of this
Agreement and shall be deemed substituted therefore such other provisions as
will most nearly accomplish the intent of the parties to the extent permitted by
applicable law, in case this Agreement or any one or more of its provisions
shall be held to be invalid, illegal or unenforceable by any governmental
regulatory agency or court of competent jurisdiction.

         IN WITNESS WHEREOF, the Executive and a duly authorized Company officer
have signed this Agreement as of the date indicated below.

    /s/ Thomas M. Teschner                              Date: 12/1/99
THOMAS M. TESCHNER

SOUTHSIDE BANCSHARES CORP.

By:  /s/ Joseph W. Pope                                 Date: 12/1/99
Title:  Chief Financial Officer

                                       8
<PAGE>   10
                                    EXHIBIT A

                      EXECUTIVE RETIREMENT BENEFIT ELECTION

         THIS ELECTION is made and entered into as of 1st day of December, 1999,
by SOUTHSIDE BANCSHARES CORP. (the "Company") located in St. Louis, Missouri,
pursuant to the Salary Continuation Agreement between the Company and THOMAS M.
TESCHNER (the "Executive") dated December 1, 1999, (the "Agreement").

         The Executive, by initialing in ink either OPTION 1 or OPTION 2 below
hereby elects to receive the Disability Benefit described in the elected option
and receive the payment or payments in accordance to the option the Executive
elects.

                                    OPTION 1

                  (initials)
         ---------

                  a. Benefit Amount. The amount of the benefit is the amount set
         forth on the attached Schedule A based on the number of completed Plan
         Years preceding the Executive's Termination of Employment.

                  b. Payment of Benefit. The Company shall pay the benefit in a
         single lump sum to the Executive within thirty (30) days following the
         Executive's Termination of Employment.

                                    OPTION 2

          /s/TMT  (initials)
         ---------

                  a. Benefit Amount. The amount of the benefit is a percentage
         of the annual benefit set forth in Section 2.1 determined as of the
         Normal Retirement Date. The fraction to be utilized to determine the
         percentage has a numerator equal to the amount found on Schedule A of
         the Agreement based upon the number of completed Plan Years by the
         Executive as of Termination of Employment increased each subsequent
         Plan Year until the Executive's Normal Retirement Date by six percent
         (6%) and a denominator equal to the amount found on Schedule A of the
         Agreement based upon the Executive having completed all Plan Years up
         to the Executive's Normal Retirement Date. The Discount Rate as
         described in Section 1.1.9 of the Agreement shall be used to determine
         the present value.

                  b. Payment of Benefit. The Company shall pay the annual
         benefits for a period of fifteen (15) years from Executive's Normal
         Retirement Date. The Company's payments shall be made in equal monthly
         installments (1/12th of the annual benefit). These equal monthly
         payments to the Executive will begin on the last day of the month which
         follows the month of the Executive attaining the Normal Retirement Date
         and continuing until the expiration of one hundred eighty (180) months
         from the first payment.

                                       9
<PAGE>   11
                              EXHIBIT A (CONTINUED)

         The Executive and Company acknowledge and agree that each and every
election to select a benefit payment pursuant to OPTION 1 or OPTION 2 made under
this EXHIBIT A EXECUTIVE RETIREMENT BENEFIT ELECTION, in order to be valid and
effective, must be made by December 31st of the year prior to the calendar year
preceding the Executive's Termination of Employment.

         The Executive and Company agree and acknowledge that any election to
select a benefit payment pursuant to OPTION 1 or OPTION 2 made under this
EXHIBIT A EXECUTIVE RETIREMENT BENEFIT ELECTION not made within the time frame
set forth in the paragraph above shall be null and void. When a null and void
election is made the most recent election which is not null and void shall
determine the method in which the Executive's retirement benefit shall be paid
under Section 2.4.1 of the Agreement.

         The Executive and the Company acknowledge and agree that the Company,
in the absence of a valid election by the Executive under this EXHIBIT A
EXECUTIVE RETIREMENT BENEFIT ELECTION, the Company shall pay any benefit under
Section 2.4.1 of this Agreement under OPTION 1 above.

         The Executive and the Company understands that the Executive may change
the election set forth above, consistent with the restrictions set forth in this
EXHIBIT A EXECUTIVE RETIREMENT BENEFIT ELECTION, by filing a new written
designation with the Company on a form following this EXHIBIT A EXECUTIVE
RETIREMENT BENEFIT ELECTION.

Executive:

Signature    /s/ Thomas M. Teschner          Date        December 1, 1999
            --------------------------       -----------------------------

Accepted by the Company this 1st day of December, 1999.

By:   /s/ Joseph W. Pope
Title: Chief Financial Officer

                                       10
<PAGE>   12
                                   SCHEDULE A

                      SALARY CONTINUATION AGREEMENT BETWEEN
                 SOUTHSIDE BANCSHARES CORP. AND THOMAS TESCHNER

<TABLE>
<CAPTION>
          Plan Year* Completed
       before Termination occurs                   Compensation Balance
       -------------------------                   --------------------
<S>                                                <C>
                  1                                      $ 29,307
                  2                                        62,178
                  3                                        99,068
                  4                                       140,500
                  5                                       187,069
                  6                                       239,456
                  7                                       298,447
                  8                                       364,947
                  9                                       440,002
                  10                                      524,835
                  11                                      620,875
                  12                                      729,812
                  13                                      853,658
                  14                                      994,840
                  15                                    1,156,330
                  16                                    1,341,839
                  17                                    1,556,131
                  18                                    1,805,560
                  19                                    2,099,108
                  20                                    2,450,713
                  21                                    2,886,007
                  22                                    3,474,940

            End of Schedule
</TABLE>
<PAGE>   13
                             SCHEDULE A (CONTINUED)

                      SALARY CONTINUATION AGREEMENT BETWEEN
                 SOUTHSIDE BANCSHARES CORP. AND THOMAS TESCHNER

     * Plan Year means the anniversary year of the date of the Agreement.

     To calculate an amount for less than a full Plan Year, take the number of
     completed months of service into the current Plan Year and divide by 12.
     Then multiply that fraction by the difference between (i) the Plan Year
     balance shown above for the Plan Year in which termination occurs and (ii)
     the previous Plan Year's balance. Then add that amount to the previous Plan
     Year's balance. The result provides credit for all prior full plan years
     plus a ratio percentage of the current plan year. For example, if the
     Executive leaves the Bank during the 5th plan year four months after the
     fourth year plan anniversary, then you would take 4/12 times the balance
     shown for Plan Year 5 minus the balance shown for Plan Year 4. Then add
     that amount to the balance shown for Plan Year 4 to determine the amount
     due as a termination payment.

                                       2

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