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                                                                   EXHIBIT 10.15

                              AMENDED AND RESTATED
                              COMERICA INCORPORATED
                          1997 LONG-TERM INCENTIVE PLAN

SECTION 1.  PURPOSE.

The purpose of Comerica's Long-Term Incentive Plan is to align the interests of
employees of the Corporation selected to receive awards with those of
shareholders by rewarding long term decision-making and actions for the
betterment of the Corporation. Accordingly, eligible individuals may receive
Stock Options, Stock Appreciation Rights, Restricted Stock, Performance Awards
and Other Stock-Based Awards. Ownership of the Corporation's stock assists in
the attraction and retention of qualified employees, and provides them with
additional incentive to devote their best efforts to pursue and sustain the
Corporation's superior long-term performance. This enhances the value of the
Corporation for the benefit of its shareholders.

SECTION 2.  DEFINITIONS.

a.      "Affiliate" means (i) any entity that is controlled by the Corporation,
        whether directly or indirectly, and (ii) any entity in which the
        Corporation has a significant equity interest, as determined by the
        Committee.

b.      "Agreement" means a written agreement, in a form approved by the
        Committee, which sets forth the terms and conditions of an Award.
        Agreements shall be subject to the express terms and conditions set
        forth herein, and to such other terms and conditions not inconsistent
        with the Plan as the Committee shall deem appropriate.

c.      "Award" means an Option, a Stock Appreciation Right, a Restricted Stock
        Award, a Performance Award or an Other Stock-Based Award pursuant to the
        Plan. Each Award shall be evidenced by an Agreement.

d.      "Award Recipient" means an Eligible Individual who has received an Award
        under the Plan.

e.      "Beneficiary" means any person(s) designated by an Award Recipient on a
        beneficiary designation form, or any person(s) entitled to receive any
        amounts owing to such Award Recipient under this Plan upon his or her
        death by reason of having been named in the Award Recipient's will or
        trust agreement or having qualified as a taker of the Award Recipient's
        property under the laws of intestacy. If an Award Recipient authorizes
        any person, in writing, to exercise such individual's Options or SARs
        following the Award Recipient's death, the term "Beneficiary" shall
        include any person in whose favor such Options or SARs are exercised by
        the person authorized to exercise the Options or SARs.

f.      "Board" means the Board of Directors of Comerica Incorporated.

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g.      "Change of Control" shall have the meaning set forth in Exhibit A to
        this Plan.

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

i.      "Committee" means the committee appointed by the Board to administer the
        Plan as provided herein. Unless otherwise determined by the Board, the
        Compensation Committee of the Board shall be the Committee.

j.      "Corporation" means Comerica Incorporated, a Delaware corporation, and
        its Affiliates.

k.      "Disabled" or "Disability" means "Totally Disabled" within the meaning
        of such term as set forth in the Long-Term Disability Plan of Comerica
        Incorporated (the provisions of which are incorporated herein by
        reference), or as the Committee shall determine based on information
        provided to it. However, with respect to the rules relating to Incentive
        Stock Options, the term "Disabled" shall mean disabled as that term is
        utilized in Sections 422 and 22(e)(3) of the Code, or any successor Code
        provisions relating to ISOs.

l.      "Eligible Individual" means any employee of the Corporation or any
        Affiliate who the Committee determines to be an Eligible Individual.
        Notwithstanding the foregoing, an Eligible Individual for purposes of
        receipt of the grant of an ISO shall be limited to those individuals who
        are eligible to receive ISOs under rules set forth in the Code and
        applicable regulations.

m.      "Exchange Act" means the Securities Exchange Act of 1934, as amended.

n.      "Fair Market Value" means the closing price of a Share on the New York
        Stock Exchange as reported on the Composite Tape; if, however, there is
        no trading of Shares on the date in question, then the closing price of
        the Shares as so reported, on the last preceding date on which there was
        trading shall instead be used to determine Fair Market Value. If Fair
        Market Value for any date in question cannot be determined as provided
        above, Fair Market Value shall be determined by the Committee by
        whatever method or means the members, in the good faith exercise of
        their discretion, at that time shall deem appropriate.

o.      "Incentive Stock Option" or "ISO" means an Option granted pursuant to
        the Plan that meets the requirements of Section 422 of the Code, or any
        successor provision, and that is intended by the Committee to constitute
        an ISO.

p.      "Nonqualified Stock Option" or "NQSO" means an Option granted pursuant
        to the Plan that is not intended to be an Incentive Stock Option.

q.      "Option" means a Nonqualified Stock Option or an Incentive Stock Option.

r.      "Other Stock-Based Award" means any right granted under Section 6(E) of
        the

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s.      Plan. "Performance Award" means any Award made pursuant to Section 6(D)
        of the Plan.

t.      "Performance Measures" means, with respect to each Award, the criteria
        and objectives, determined by the Committee, which must be met during
        the applicable Performance Period or Restriction Period, as the case may
        be, as a condition of the holder's vesting of, and receipt of payment
        with respect to, or retention of, such Award. Such criteria and
        objectives may include, but shall not be limited to, return on
        investments, cumulative earnings per share, or return on shareholders'
        equity. The Performance Measures pertinent to any Award shall be
        established at the time of the making of such Award and shall be set
        forth in the Agreement covering such Award, but may be revised by the
        Committee thereafter if and whenever its members determine that, in
        light of events occurring or circumstances arising after the date such
        Award is made, such revision is necessary or appropriate to afford the
        recipient benefits substantially similar to those originally intended
        with respect to such Award.

u.      "Performance Period" means the period designated by the Committee
        during which the Performance Measures applicable to an Award shall be
        measured. The Performance Period shall be established on or before the
        time of the making of the Award, and the length of any Performance
        Period shall be within the discretion of the Committee.

v.      "Plan" means the Amended and Restated Comerica Incorporated 1997
        Long-Term Incentive Plan.

w.      "Restriction Period" means the period designated by the Committee
        during which Shares of Restricted Stock remain forfeitable.

x.      "Restricted Stock Award" means an award of Shares pursuant to Section
        6(C) of the Plan subject to such restrictions as may be imposed by the
        Committee. Shares of restricted stock shall constitute issued and
        outstanding Shares for all corporate purposes.

y.      "Retirement" means retirement in accordance with the policies of the
        Corporation or Affiliate which employs the Award Recipient.

z.      "Shares" means shares of Common Stock, $5.00 par value, of the
        Corporation or such other securities or property as may become subject
        to Awards pursuant to an adjustment made under Section 8 of the Plan.

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aa.     "Stock Appreciation Right" or "SAR" means a right granted under Section
        6(B) of the Plan.

bb.     "Tax Withholding Date" shall mean the earliest date the obligation to
        withhold tax with respect to an Award arises.

SECTION 3.  STOCK SUBJECT TO THE PLAN.

Shares which may be issued pursuant to Awards under the Plan may be either
authorized and unissued Shares, or authorized and issued Shares held in the
Corporation's Treasury, Shares purchased in the open market or in private
transactions or any combination of the foregoing. Subject to adjustment as
provided in Section 8, as of the first day of each calendar year during which
the Plan remains in effect, there shall be reserved for issuance for the purpose
of Awards under the Plan that number of Shares which equals 1.6 percent of the
Shares that were outstanding (including, for this purpose, any treasury shares)
as of the close of business on the preceding December 31st. Not more than 49% of
the Shares available for Awards each calendar year may be utilized for Awards
other than Options and not more than 15% of the Shares available for Awards each
calendar year may be utilized for Restricted Stock Awards. Shares reserved for
issuance in any calendar year may only be utilized in connection with Awards
made during the year in which they first become available, and may not be
carried forward and utilized for the purpose of making Awards in future years.
However, Shares covered by Awards which are canceled or forfeited may be
reutilized to make Awards. Not more than 2,000,000 Shares (subject to adjustment
as provided in Section 8) shall be available for issuance pursuant to the
exercise of Incentive Stock Options. The maximum number of Shares which may
become subject to Awards to any Eligible Individual during any calendar year
shall be the lesser of (i) 10% of the Shares available for Awards during such
calendar year, or (ii) 200,000 Shares.

SECTION 4.  ADMINISTRATION.

The Plan shall be administered by the Committee. In addition to any implied
powers and duties that may be needed to carry out the provisions of the Plan,
the Committee shall have all the powers vested in it by the terms of the Plan,
including exclusive authority to select Eligible Individuals, to make Awards, to
determine the type, size, terms and timing of Awards (which need not be
uniform), to accelerate the vesting of awards in extraordinary circumstances,
including the occurrence of a Change of Control of the Corporation or the
termination of an Award Recipient's employment, to permit or prohibit the
transfer of Awards, and to prescribe the form of the Agreements governing
Awards.

The Committee may cancel all or any portion of any Award, whether or not vested
or deferred, as set forth below. Upon cancellation, the Award Recipient shall
forfeit the Award and any benefits attributable to such canceled Award or
portion thereof. The Committee may cancel an Award if, in its sole discretion,
the Committee determines in good faith that the Award Recipient has done any of
the following: (i) committed a felony;

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(ii) committed fraud; (iii) embezzled; (iv) disclosed confidential information
or trade secrets; (v) was terminated for cause; (vi) engaged in any activity in
competition with the business of the Corporation or any subsidiary or affiliate
of the Corporation; or (vii) engaged in conduct that adversely affected the
Corporation. The Executive Vice President - Corporate Staff of the Corporation,
or such other person designated from time to time by the Chief Executive Officer
of the Corporation (the "Delegate"), shall have the power and authority to
suspend all or any portion of any Award if the Delegate makes in good faith the
determination described in the preceding sentence. Any such suspension of an
Award shall remain in effect until the suspension shall be presented to and
acted on by the Committee at its next meeting. This paragraph shall have no
application for a two year period following a Change of Control of the
Corporation.

The Committee may interpret the Plan and the Agreements entered into pursuant to
the Plan, establish, amend and rescind rules and regulations relating to the
Plan, make any other determinations it believes necessary or advisable in
connection with the administration of the Plan, and correct any defect, supply
any omission or reconcile any inconsistency in the Plan or in any Agreement in
the manner and to the extent the Committee deems appropriate.

Determinations of the Committee shall be made by a majority vote of its members
at a meeting at which a quorum is present or pursuant to a unanimous written
consent of its members. A majority of the members of the Committee shall
constitute a quorum. All Committee determinations shall be final, conclusive and
binding on the Corporation, any Award Recipient, Beneficiary or other interested
party.

The Committee may authorize any one or more of its members, or any officer of
the Corporation, to execute and deliver documents on behalf of the Committee. No
member of the Committee shall be liable for any action or omission in connection
with the Plan, except for his or her own willful misconduct.

SECTION 5.  ELIGIBILITY.

Awards may only be made to Eligible Individuals. No member of the Committee
shall be eligible to receive an Award under the Plan.

SECTION 6.  AWARDS.

a.      Options. The Committee may grant Options to Eligible Individuals in
        accordance with the provisions of this subsection subject to such
        additional terms and conditions, not inconsistent with the provisions of
        the Plan, as the Committee shall determine to be appropriate.

         1.     Exercise Price. The purchase price per Share under an Option
                shall be determined by the Committee; provided, however, that
                such purchase price shall not be less than 100% of the Fair
                Market Value of a Share on the date

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                of grant of such Option, and such purchase price may not be
                decreased during the term of the Option other than pursuant to
                Section 8.

         2.     Option Term. The term of each Option shall be fixed by the
                Committee; provided, however, that the maximum term of each
                Nonqualified Stock Option shall be ten years.

         3.     Time and Manner of Exercise. The Committee shall determine the
                time or times at which an Option may be exercised, and the
                manner in which (including, without limitation, cash, Shares,
                other securities, other Awards or other property, or any
                combination thereof, having a Fair Market Value on the exercise
                date equal to the relevant exercise price) payment of the
                exercise price with respect thereto may be made, or deemed to
                have been made. Any form of "cashless" exercise of an Option
                which is legally permissible may be utilized under the Plan in
                connection with the exercise of an Option.

         4.     Employment Status.

                a.    Intentionally left blank.

                b.    Retirement. An Award Recipient's Retirement shall not
                      affect any current Options other than those granted in the
                      year of Retirement. All current Options other than those
                      granted in the year of Retirement shall continue to vest
                      pursuant to the vesting schedule applicable to such
                      Options and any vested Option (including any ISO held by
                      an optionee who is not Disabled), held by such individual
                      shall continue to be in full force and effect, provided
                      the term of the Option has not otherwise expired, for the
                      remainder of the term of the Option. All options granted
                      in the year of Retirement which have not otherwise vested
                      shall terminate upon the date of Retirement.

                c.    Disability. Upon the cessation of the Award Recipient's
                      employment due to Disability, any Option held by such
                      individual shall continue to be exercisable, provided the
                      term of the Option has not otherwise expired, for a period
                      of three years subsequent to the date of cessation of the
                      Award Recipient's employment (or, in the case of any ISO
                      held by an optionee who is Disabled, for a period of one
                      year subsequent to such cessation date).

                d.    Termination of Employment. Upon the cessation of the Award
                      Recipient's employment for any reason other than
                      Retirement, Disability or death, any Option held by such
                      individual shall continue to be exercisable, provided the
                      term of the Option has not otherwise expired, for a period
                      of ninety days after the date of termination of the Award
                      Recipient's employment.

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                e.    Death. Upon the Award Recipient's death (whether during
                      his or her employment with the Corporation or an Affiliate
                      or during any applicable post-termination exercise
                      period), any Option held by such individual shall continue
                      to be exercisable by the Beneficiary(ies) of the decedent,
                      provided the term of the Option (as such term may have
                      been shortened due to the Award Recipient's Retirement,
                      Disability or termination of employment for any other
                      reason) has not otherwise expired, for a period of one
                      year after the date of the Award Recipient's death (or, in
                      the case of ISOs, for a period of three months after the
                      Award Recipient's death).

                f.    Extension or Reduction of Exercise Period. In any of the
                      foregoing circumstances, the Committee may extend or
                      shorten the exercise period, but may not extend any such
                      period beyond the term of the Option as originally
                      established (or, insofar as this paragraph relates to
                      SARs, the term of the SAR as originally established).
                      Further, with respect to ISOs, as a condition of any such
                      extension, the holder shall be required to deliver to the
                      Corporation a release which provides that such individual
                      will hold the Corporation and/or Affiliate harmless with
                      respect to any adverse tax consequences the individual may
                      suffer by reason of any such extension.

         5.     Reload Options. With respect to Options granted pursuant to this
                Plan, the Committee may grant "reload" options pursuant to which
                grant the Award Recipient will receive a new Option when the
                payment of the exercise price of a previously granted Option is
                made by the delivery of Shares already owned by the Award
                Recipient pursuant to Section 6(A)(3) hereof, and/or when Shares
                are tendered or forfeited as payment of the amount required to
                be withheld under applicable income tax laws in connection with
                the exercise of an Option. Any such new Option shall be an
                Option to purchase the number of Shares not exceeding the sum of
                (A) the number of Shares tendered or forfeited to satisfy the
                purchase price upon the exercise of the previously- granted
                Option to which such "reload" option relates, and (B) the number
                of Shares tendered or forfeited as payment of the amount to be
                withheld under applicable income tax laws in connection with the
                exercise of the Option to which such "reload" option relates.
                Such "reload" Options shall have a per share exercise price
                equal to the Fair Market Value as of the date of grant of the
                Shares covered by such Option.

b.       Stock Appreciation Rights. The Committee may grant Stock Appreciation
         Rights to Eligible Individuals in accordance with the provisions of
         this subsection subject to such additional terms and conditions, not
         inconsistent with the provisions of the Plan, as the Committee shall
         determine to be appropriate. A Stock Appreciation Right granted under
         the Plan shall confer on the Award Recipient a right to receive upon
         exercise thereof the excess of (i) the Fair Market Value of one Share
         on the date of exercise (or, if the Committee shall so determine, at
         any time during a

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         specified period before or after the date of exercise) over (ii) the
         grant price of the Stock Appreciation Right as specified by the
         Committee, which price shall not be less than 100% of the Fair Market
         Value of one Share on the date of grant of the Stock Appreciation
         Right. Subject to the terms of the Plan and any applicable Agreement,
         the grant price, term, manner of exercise, dates of exercise, methods
         of settlement and any other terms and conditions of any Stock
         Appreciation Right shall be those determined by the Committee. The
         Committee may impose such conditions or restrictions on the exercise of
         any Stock Appreciation Right as it may deem appropriate. Except as
         otherwise provided herein, any SAR must be exercised during the period
         of the Award Recipient's employment with the Corporation or Affiliate.
         The provisions of Section 6(A)(4)(b)-(f) hereof shall apply for
         purposes of determining the exercise period in the event of the Award
         Recipient's Retirement, Disability, death or other termination of
         employment.

c.       Restricted Stock. The Committee may make Restricted Stock Awards to
         Eligible Individuals in accordance with the provisions of this
         subsection subject to such additional terms and conditions not
         inconsistent with the provisions of the Plan as the Committee shall
         determine to be appropriate.

         1.     Nature of Restrictions. Restricted Stock Awards shall be subject
                to such restrictions, including Performance Measures, as the
                Committee may impose (including, without limitation, any
                limitation on the right to vote a Share of restricted stock or
                the right to receive any dividend or other right or property
                with respect thereto), which restrictions may lapse separately
                or in combination at such time or times, in such installments or
                otherwise as the Committee may deem appropriate; provided,
                however, that the minimum Restriction Period with respect to a
                Restricted Stock Award that is made subject to restrictions
                which are performance-related shall be one year. In the event a
                Restricted Stock Award is made subject to restrictions which are
                not performance-related, the minimum Restriction Period shall be
                three years.

         2.     Stock Certificates. Shares of restricted stock under the Plan
                shall be evidenced by issuance of a stock certificate(s), which
                shall be held by the Corporation. Such certificate(s) shall be
                registered in the name of the Award Recipient and shall bear an
                appropriate legend which refers to the restrictions applicable
                to such Restricted Stock Award. Alternatively, shares of
                restricted stock under the Plan may be recorded in book entry
                form.

         3.     Forfeiture; Delivery of Shares. Except as otherwise determined
                by the Committee, upon termination of an Award Recipient's
                employment (as determined under criteria established by the
                Committee) during the applicable Restriction Period, all Shares
                of restricted stock shall be forfeited and reacquired by the
                Corporation. However, in such circumstances, the Committee may
                waive, in whole or in part, any or all remaining restrictions
                applicable to the Restricted Stock Award. Shares comprising any
                Restricted

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                Stock Award held by the Corporation that are no longer subject
                to restrictions shall be delivered to the Award Recipient (or
                his or her Beneficiary) promptly after the applicable
                restrictions lapse or are waived.

d.       Performance Awards. The Committee may grant Performance Awards to
         Eligible Individuals in accordance with the provisions of this
         subsection subject to such additional terms and conditions, not
         inconsistent with the provisions of the Plan, as the Committee shall
         determine to be appropriate. A Performance Award granted under the Plan
         (i) may be denominated or payable in cash, Shares (including, without
         limitation, restricted Shares), other securities, other Awards, or
         other property, and (ii) shall confer on the Award Recipient the right
         to receive a payment upon the attainment of Performance Measures during
         any Performance Period the Committee may establish. The payment of any
         Performance Award (or any part of any Performance Award) in Shares
         (whether or not such Shares are restricted Shares), other securities,
         other Awards or other property shall be in lieu of a cash payment of
         such Performance Award (or such part thereof). Subject to the terms of
         the Plan and any applicable Award Agreement, the Performance Measures
         to be achieved during any Performance Period, the length of any
         Performance Period and the amount of any payment or transfer to be made
         pursuant to any Performance Award shall be determined by the Committee.

e.       Other Stock-Based Awards. The Committee may grant Other Stock-Based
         Awards to Eligible Individuals in accordance with the provisions of
         this subsection and subject to such additional terms and conditions,
         including Performance Measures, not inconsistent with the provisions of
         the Plan, as the Committee shall determine. Other Stock-Based Awards
         may be denominated or payable in, valued in whole or in part by
         reference to, or otherwise based on or related to, Shares (including,
         without limitation, securities convertible into Shares), as are deemed
         by the Committee to be consistent with the purpose of the Plan;
         provided, however, that such grants must comply with applicable law.

f.       General. Except as otherwise specified herein, the following provisions
         shall relate to Awards under the Plan:

         1.     Consideration for Awards. Awards shall be made without monetary
                consideration or for such minimal monetary consideration as may
                be required by applicable law.

         2.     Separate or Tandem Awards. Awards may, in the discretion of the
                Committee, be granted either alone or in addition to, in tandem
                with, in fulfillment of, or in substitution for, any other Award
                or any award made under any plan of the Company or any Affiliate
                other than this Plan. Awards granted in addition to, or in
                tandem with, other Awards, or in addition to, or in tandem with,
                awards made under any such other plan of the Corporation or any
                Affiliate may be

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                made either at the same time as, or at a different time from,
                the making of such other Awards or awards.

         3.     Forms of Payment under Awards. Subject to the terms of the Plan
                and of any applicable Agreement, payments or transfers to be
                made by the Corporation or an Affiliate upon the grant, exercise
                or payment of an Award may be made in such form or forms as the
                Committee shall determine (including, without limitation, cash,
                Shares, other securities, other Awards or other property or any
                combination thereof), and may be made in a single payment or
                transfer, in installments or an a deferred basis, in each case
                in accordance with rules and procedures established by the
                Committee. Such rules and procedures may include, without
                limitation, provisions for the payment or crediting of
                reasonable interest on installment or deferred payments.

         4.     Limits on Transfer of Awards. No Award and no right under any
                such Award shall be transferable by an Award Recipient otherwise
                than by will or by the laws of intestacy; provided, however,
                that, an Award Recipient may, in the manner established by the
                Committee, designate a Beneficiary to exercise the rights of the
                Award Recipient and to receive any property distributable with
                respect to any Award upon the death of the Award Recipient. Each
                Award or right under any Award shall be exercisable during the
                Award Recipient's lifetime only by the Award Recipient or, if
                permissible under applicable law, by the Award Recipient's
                guardian or legal representative. No Award or right under any
                such Award may be pledged, alienated, attached or otherwise
                encumbered, and any purported pledge, alienation, attachment or
                encumbrance thereof shall be void and unenforceable against the
                Corporation or any Affiliate.

         5.     Term of Awards. Subject to any specific provisions of the Plan,
                the term of each Award shall be for such period as may be
                determined by the Committee.

         6.     Securities Law Restrictions. All certificates for Shares or
                other securities delivered under the Plan pursuant to any Award
                or the exercise thereof shall be subject to such restrictions as
                the Committee may deem advisable under the Plan, or the rules,
                regulations and other requirements of the Securities and
                Exchange Commission, the New York Stock Exchange, any other
                exchange on which Shares may be eligible to be traded or any
                applicable federal or state securities laws, and the Committee
                may cause a legend or legends to be placed on any such
                certificates to make appropriate reference to such restrictions.

         7.     Limitation on Awards. The maximum amount of compensation payable
                with respect to any Award to any Eligible Officer under the Plan
                which is settled in cash will not exceed $2,500,000 for any
                calendar year.

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SECTION 7.  WITHHOLDING OF TAXES.

The Corporation will, if required by applicable law, withhold the minimum
statutory amount of Federal, state and/or local withholding taxes in connection
with the exercise or vesting of an Award. Unless otherwise provided in the
applicable Agreement, each Award Recipient may satisfy any such tax withholding
obligation by any of the following means, or by a combination of such means: (i)
a cash payment; (ii) by delivery to the Corporation of already-owned Shares
which have been held by the individual for at least six months having a Fair
Market Value, as of the Tax Withholding Date, sufficient to satisfy the amount
of the withholding tax obligation arising from an exercise or vesting of an
Award; (iii) by authorizing the Corporation to withhold from the Shares
otherwise issuable to the individual pursuant to the exercise or vesting of an
Award, a number of shares having a Fair Market Value, as of the Tax Withholding
Date, which will satisfy the amount of the withholding tax obligation; or (iv)
by a combination of such methods of payment. If the amount requested is not
paid, the Corporation may refuse to satisfy the Award.

SECTION 8.  ADJUSTMENTS UPON CHANGES IN CAPITALIZATION.

In the event the number of outstanding Shares changes as a result of any stock
split, stock dividend, recapitalization, merger, consolidation, reorganization,
combination, or exchange of shares, split-up, split-off, spin-off, liquidation
or other similar change in capitalization, or any distribution made to common
stockholders other than cash dividends, the number or kind of shares that may be
issued under the Plan pursuant to Section 3, and the number or kind of shares
subject to, or the exercise price per share under, any outstanding Award, shall
be automatically adjusted, and the Committee shall be authorized to make such
other equitable adjustment of any Award or Shares issuable pursuant thereto, or
in any Performance Measures relating to any Award, so that the value of the
interest of the individual shall not be decreased by reason of the occurrence of
such event. Any such adjustment shall be conclusive and binding.

SECTION 9.  AMENDMENT AND TERMINATION.

The Committee may amend, modify or terminate the Plan, at any time, in such
respects as it shall deem advisable. Any such amendment, modification or
termination of the Plan shall not, without the consent of any Award Recipient,
adversely affect his or her rights under an Award previously made.

SECTION 10.  MISCELLANEOUS PROVISIONS.

a.      No employee or other person shall have any claim or right to receive an
        Award under the Plan.

b.      Receipt of an Award shall not confer upon the Award Recipient any rights
        of a shareholder with respect to any Shares subject to such Award except
        as specifically provided in the Agreement relating to the Award.

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c.      The Plan, the making and exercise of Awards thereunder, and the
        obligations of the Corporation to satisfy Awards shall be subject to all
        applicable Federal and state laws, rules and regulations and to such
        approvals by any government or regulatory agency as may be required, and
        the Committee may impose any additional restrictions with respect to
        Awards in order to comply with any legal requirements applicable to
        Awards or to qualify for any exemption it may deem appropriate.

d.      The expenses of the Plan shall be borne by the Corporation.

e.      By accepting an Award under the Plan or payment pursuant to any Award,
        each Award Recipient, legal representative and Beneficiary shall be
        conclusively deemed to have indicated his or her acceptance and
        ratification of, and consent to, any action taken under the Plan by the
        Committee or the Corporation.

f.      Awards under the Plan shall be binding upon the Corporation, its
        successors, and assigns.

g.      Nothing in the Plan, or in any Agreement entered into pursuant to the
        Plan, shall confer on an Award Recipient any right to continue in the
        employ of the Corporation or any Affiliate, or in any way affect the
        Corporation's (or such Affiliate's) right to terminate the individual's
        employment without prior notice, at any time, for any reason or for no
        reason.

h.      Participation in the Plan shall not affect an individual's eligibility
        to participate in any other benefit or incentive plan of the
        Corporation.

i.      A breach by any Award Recipient, his or her Beneficiary(ies), or legal
        representative, of any restrictions, terms or conditions contained in
        the Plan, any Agreement, or otherwise established by the Committee with
        respect to any Award will, unless waived in whole or in part by the
        Committee, cause a forfeiture of such Award.

j.      This Amended and Restated Comerica Incorporated 1997 Long-Term Incentive
        Plan shall be effective on November 19, 1999 and thereafter shall
        continue until terminated by the Committee.

k.      Except to the extent superseded by Federal law, the provisions of this
        Plan shall be interpreted and construed in accordance with the laws of
        the State of Delaware.

                                       2
<PAGE>   13

                                    EXHIBIT A

                                CHANGE OF CONTROL

For the purpose of this Plan, a "Change of Control" shall mean:

l.      The acquisition by any individual, entity or group (within the meaning
        of Section 13(d)(3) or 14(d)(2) of the Securities Exchange Act of 1934,
        as amended (the "Exchange Act")) (a "Person") of beneficial ownership
        (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of
        20% or more of either (i) the then outstanding shares of common stock of
        the Corporation (the "Outstanding Company Common Stock") or (ii) the
        combined voting power of the then outstanding voting securities of the
        Corporation entitled to vote generally in the election of directors (the
        "Outstanding Company Voting Securities"); provided, however, that for
        purposes of this subsection (a), the following acquisitions shall not
        constitute a Change of Control: (i) any acquisition directly from the
        Corporation, (ii) any acquisition by the Corporation, (iii) any
        acquisition by any employee benefit plan (or related trust) sponsored or
        maintained by the Corporation or any corporation controlled by the
        Corporation or (iv) any acquisition by any corporation pursuant to a
        transaction which complies with clauses (i), (ii) and (iii) of
        subsection 3 of this Exhibit A; or

2.      Individuals who, as of the date hereof, constitute the Corporation's
        Board of Directors (the "Incumbent Board") cease for any reason to
        constitute at least a majority of the Board; provided, however, that any
        individual becoming a director subsequent to the date hereof whose
        election, or nomination for election by the Corporation's shareholders,
        was approved by a vote of at least a majority of the directors then
        comprising the Incumbent Board shall be considered as though such
        individual were a member of the Incumbent Board, but excluding, for this
        purpose, any such individual whose initial assumption of office occurs
        as a result of an actual or threatened election contest with respect to
        the election or removal of directors or other actual or threatened
        solicitation of proxies or consents by or on behalf of a Person other
        than the Board; or

3.      Consummation of a reorganization, merger or consolidation or sale or
        other disposition of all or substantially all of the Corporation's
        assets (a "Business Combination"), in each case, unless, following such
        Business Combination, (i) all or substantially all of the individuals
        and entities who were the beneficial owners, respectively, of the
        Outstanding Company Common Stock and Outstanding Company Voting
        Securities immediately prior to such Business Combination beneficially
        own, directly or indirectly, more than 50% of, respectively, the then
        outstanding shares of common stock and the combined voting power of the
        then outstanding voting securities entitled to vote generally in the
        election of directors, as the case may be, of the company resulting from
        such Business Combination (including, without limitation, a corporation
        which as a result of such transaction owns the Corporation or all or
        substantially all of the Corporation's assets either directly or through
        one or more subsidiaries) in substantially the same proportions as their
        ownership, immediately prior to such Business Combination of the
        Outstanding Company Common Stock and Outstanding Company Voting
        Securities,

<PAGE>   14

        as the case may be, (ii) no Person (excluding any corporation resulting
        from such Business Combination or any employee benefit plan (or related
        trust) of the Corporation or such corporation resulting from such
        Business Combination) beneficially owns, directly or indirectly, 20% or
        more of, respectively, the then outstanding shares of common stock of
        the company resulting from such Business Combination or the combined
        voting power of the then outstanding voting securities of such
        corporation except to the extent that such ownership existed prior to
        the Business Combination and (iii) at least a majority of the members of
        the board of directors of the company resulting from such Business
        Combination were members of the Incumbent Board at the time of the
        execution of the initial agreement, or of the action of the Board,
        providing for such Business Combination; or

4.      Approval by the Corporation's shareholders of a complete liquidation or
        dissolution of the Corporation.<PAGE>   1
                                                                   EXHIBIT 10.16

                              AMENDED AND RESTATED
                              COMERICA INCORPORATED
                            MANAGEMENT INCENTIVE PLAN

SECTION 1.  PURPOSE.
The purpose of the Comerica Incorporated Management Incentive Plan is to promote
and advance the interests of Comerica Incorporated (the "Corporation") and its
shareholders by enabling the Corporation to attract, retain and reward key
employees of the Corporation and its Affiliates, and to qualify incentive
compensation paid to Participants who are Covered Employees as performance-based
compensation within the meaning of Section 162(m) of the Code.

SECTION 2.  DEFINITIONS.

The terms below shall have the following meanings:

a.     "Affiliate" means (i) any entity that is controlled by the Corporation,
       whether directly or indirectly, and (ii) any entity in which the
       Corporation has a significant equity interest, as determined by the
       Committee.

b.     "Annual Base Salary" means the participant's rate of annual salary as of
       the last December 1st occurring during the Performance Period.

c.     "Board" means the Board of Directors of the Corporation.

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

e.     "Committee" means the committee appointed by the Board to administer the
       Plan as provided herein. Unless otherwise determined by the Board, the
       Compensation Committee of the Board shall be the Committee.

f.     "Corporation" means Comerica Incorporated, a Delaware corporation, and
       its successors and assigns.

g.     "Covered Employee" means a "covered employee" within the meaning of
       Section 162(m) of the Code.

h.     "Incentive Payment" means, with respect to each Participant, the amount
       he or she may receive for the applicable Performance Period as
       established by the Committee pursuant to the provisions of the Plan.

i.     "Participant" means any employee of the Corporation or an Affiliate who
       is designated by the Committee as eligible to receive an Incentive
       Payment under the Plan.

j.     "Performance Goals" mean (i) earnings per share, (ii) return on average
       equity, (iii) return on average assets, or (iv) any other objective
       performance goals as may be established by the Committee for a
       Performance Period. Performance Goals may be

<PAGE>   2

       absolute in their terms or measured against or in relationship to other
       companies comparably, similarly or otherwise situated and may be based on
       or adjusted for any other objective goals, events, or occurrences
       established by the Committee for a Performance Period. Such Performance
       Goals may be particular to a line of business, subsidiary or other unit
       or may be based on the performance of the Corporation generally. Such
       Performance Goals may cover such period as may be specified by the
       Committee.

k.     "Performance Period" means, with respect to any Incentive Payment for a
       one-year performance period, the calendar year, and, with respect to any
       Incentive Payment for a three-year performance period, the three-year
       period specified by the Committee.

l.     "Performance Targets" mean the specific measures which must be satisfied
       in connection with any Performance Goal prior to funding of any incentive
       pool.

m.     "Plan" means the Amended and Restated Comerica Incorporated Management
       Incentive Plan.

SECTION 3.  ADMINISTRATION.

The Plan shall be administered by the Committee. Subject to the express
provisions of the Plan, the Committee shall have exclusive authority to
interpret the Plan, to promulgate, amend, and rescind rules and regulations
relating to it and to make all other determinations deemed necessary or
advisable in connection with the administration of the Plan, including, but not
limited to, determinations relating to eligibility, whether to make Incentive
Payments, the terms of any such payments, the time or times at which Performance
Goals are established, the Performance Periods to which Incentive Payments
relate, and the actual dollar amount of any Incentive Payment. The
determinations of the Committee pursuant to this authority shall be conclusive
and binding.

The Committee may, in its discretion, authorize the Chief Executive Officer of
the Corporation to act on its behalf, except with respect to matters relating to
such Chief Executive Officer or which are required to be certified by the
Committee under the Plan, or which are required to be handled exclusively by the
Committee under Code Section 162(m) or the regulations promulgated thereunder.

SECTION 4.  ESTABLISHMENT OF PERFORMANCE GOALS AND INCENTIVE PAYMENTS.

A.     Establishment of Performance Goals. Prior to the completion of 25% of the
       Performance Period or such earlier date as is required under Section
       162(m) of the Code, the Committee shall, in its sole discretion, for each
       such Performance Period, determine and establish in writing the
       following:

        1.     The Performance Goals applicable to the Performance Period; and

        2.     The Performance Targets pursuant to which the total amount which
               may be available for payment to all Participants as Incentive
               Payments based upon the relative level of attainment of the
               Performance Goals may be calculated.

<PAGE>   3

B.   Certification and Payment. After the end of each Performance Period, the
     Committee shall:

     1.   Certify in writing, prior to the unconditional payment of any
          Incentive Payment, the level of attainment of the Performance Goals
          for the Performance Period;

     2.   Determine the total amount available for Incentive Payments based on
          the relative level of attainment of such Performance Goals;

     3.   In its sole discretion, reduce the size of, or eliminate, the total
          amount available for Incentive Payments for the Performance Period;
          and

     4.   In its sole discretion, determine the share, if any, of the available
          amount to be paid to each Participant as that Participant's Incentive
          Payment, and authorize payment of such amount. In the case of a
          Participant who is a Covered Employee, the Committee shall not be
          authorized to increase the amount of the Incentive Payment for any
          Performance Period determined with respect to any such individual by
          reference to the applicable Performance Targets except to the extent
          permitted under Section 162(m) of the Code and regulations thereunder.

C.   Conditional Payments. The Committee may authorize a conditional payment of
     a Participant's Incentive Payment prior to the end of a Performance Period
     based upon the Committee's good faith determination of the projected size
     of (i) the total amount which will become available for payment as
     Incentive Payments for the Performance Period, and (ii) the amount
     determined with respect to any such Participant by reference to the
     Performance Targets.

D.   Other Applicable Rules.

     1.   Unless otherwise determined by the Committee with respect to any
          Covered Employee or by the Corporation's Chief Executive Officer with
          respect to any other Participant (unless otherwise required by
          applicable law), no payment pursuant to this Plan shall be made to a
          Participant unless the Participant is employed by the Corporation or
          an Affiliate as of the date of payment; provided, however, in the
          event of the Participant's (i) retirement in accordance with the
          policies of the Corporation or Affiliate which employs the
          Participant, (ii) death, or (iii) disability (within the meaning of
          such term as set forth in the Long-Term Disability Plan of Comerica
          Incorporated or its successor, the provisions of which are
          incorporated herein by reference, or as the Committee shall determine
          based on information provided to it), the Corporation shall pay the
          Participant an Incentive Payment for the one-year Performance Period
          and the three-year Performance Period, which Incentive Payments shall
          be prorated based on the number of months the Participant was employed
          by the Corporation or an Affiliate during each applicable Performance
          Period (the one- year Performance Period and the three-year
          Performance Period) in which the Participant's retirement, death or
          disability occurred. In the case of the Participant's retirement, such
          payment shall be made at the end of the Performance Period during
          which the Participant retired in the normal course

<PAGE>   4

               of payments made to all other participants, and in the case of
               the Participant's death or disability, such payment shall be made
               as soon as is administratively feasible following the date of the
               Participant's death or disability.

        2.     Incentive Payments shall be subject to applicable federal, state
               and local withholding taxes and other applicable withholding in
               accordance with the Corporation's payroll practices as from
               time-to-time in effect.

        3.     The maximum amount which may become payable to any Covered
               Employee in any calendar year as an Incentive Payment with
               respect to all Performance Periods completed during such calendar
               year shall be the lesser of (i) 200% of such Participant's Annual
               Base Salary, or (ii) $2,500,000.

        4.     Incentive Payments calculated by reference to one-year
               Performance Periods shall be payable in cash or shares of the
               Corporation's common stock, $5.00 par value per share ("Shares"),
               and Incentive Payments calculated by reference to three-year
               Performance Periods shall be payable one-half in cash and one-
               half in Shares. Any such Shares shall be awarded pursuant to the
               Corporation's long-term incentive plan and may be subject to
               restrictions as may be determined by the Committee. In each case,
               Incentive Payments shall be made as soon as practical after the
               completion of the Performance Period. Notwithstanding anything in
               this Section 4(D)(4) to the contrary, if a Participant elects to
               defer receipt of all or any portion of an Incentive Payment under
               the provisions of any deferred compensation plan maintained by
               the Corporation, the provisions in this Plan (including the
               provisions of this Section 4(D)(4)) regarding the timing and form
               of payment of Incentive Payments shall cease to apply to such
               deferred amounts and the provisions of the applicable deferred
               compensation plan shall govern the timing and form of payment of
               such deferred amounts.

        5.     A Participant shall have the right to defer all, and unless
               prohibited by the Committee in its sole discretion a Participant
               shall have the right to defer any portion, of any Incentive
               Payment as permitted under the provisions of any deferred
               compensation plan maintained by the Corporation. The Committee,
               in its sole discretion, may impose limitations on the percentage
               or dollar amount of any Participant election to defer any
               Incentive Payment and may impose rules prohibiting the deferral
               of less than 100% of any Incentive Payment.

        6.     Until paid to a Participant, awards shall not be subject to the
               claims of creditors and may not be assigned, alienated,
               transferred or encumbered in any way other than by will or
               pursuant to laws of intestacy.

<PAGE>   5

SECTION 5.  AMENDMENT OR TERMINATION.

The Committee may amend, modify or terminate the Plan in any respect at any time
without the consent of any Participant. Any such action may be taken without the
approval of the Corporation's shareholders unless shareholder approval is
required by applicable law. Termination of the Plan shall not affect any
Incentive Payments earned prior to, but payable on or after, the date of
termination, and any such payments shall continue to be subject to the terms of
the Plan notwithstanding its termination.

SECTION 6.  CHANGE OF CONTROL.

Notwithstanding any other provision hereof, in the event of a "Change of
Control" of the Company as defined in the Comerica Incorporated Executive
Officer Employment Agreements, the following provisions shall be applicable:

A.      The Performance Periods then in effect will be deemed to have concluded
        on the date of the Change of Control of the Company and the total amount
        deemed to be available to fund the related incentive pools will be that
        proportion of the amount (based upon the number of months in such
        Performance Period elapsed through the date of Change of Control of the
        Company) which would be available for funding assuming the Corporation
        had attained Performance Goals at a level generating maximum funding for
        the Performance Periods; and

B.      The Committee, in its sole discretion, will approve the share of the
        available amount payable to each Participant as that Participant's
        Incentive Payment (provided that in all events the entire available
        amount as calculated pursuant to Section 6(A) shall be paid to
        Participants as Incentive Payments), and payments shall be made to each
        Participant as soon thereafter as is practicable.

SECTION 7.  EFFECTIVE DATE OF THE PLAN.

This Amended and Restated Comerica Incorporated Management Incentive Plan shall
be effective as of November 19, 1999 and shall remain in effect until terminated
by the Committee pursuant to Section 5.

SECTION 8.  GENERAL PROVISIONS.

A.      The establishment of the Plan shall not confer upon any Participant any
        legal or equitable right against the Corporation or any Affiliate,
        except as expressly provided in the Plan.

B.      The Plan does not constitute an inducement or consideration for the
        employment of any Participant, nor is it a contract between the
        Corporation, or any Affiliate, and any Participant. Participation in the
        Plan shall not give a Participant any right to be retained in the employ
        of the Corporation or any Affiliate.

C.      Nothing contained in this Plan shall prevent the Board or Committee from
        adopting other or additional compensation arrangements, subject to
        shareholder approval if

<PAGE>   6

     such approval is required, and such arrangements may be either generally
     applicable or applicable only in specific cases.

D.   The Plan shall be governed, construed and administered in accordance with
     the laws of the State of Delaware except to the extent such laws may be
     superseded by federal law.

E.   This Plan is intended to comply in all aspects with applicable law and
     regulation, including, with respect to those Participants who are Covered
     Employees, Section 162(m) of the Code. In case any one or more of the
     provisions of this Plan shall be held invalid, illegal or unenforceable in
     any respect under applicable law or regulation, the validity, legality and
     enforceability of the remaining provisions shall not in any way be affected
     or impaired thereby and the invalid, illegal or unenforceable provision
     shall be deemed null and void; however, to the extent permissible by law,
     any provision which could be deemed null and void shall first be construed,
     interpreted or revised retroactively to permit this Plan to be construed in
     compliance with all applicable laws including, without limitation, Code
     Section 162(m), so as to carry out the intent of this Plan.

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