TCF FINANCIAL CORPORATION
2003 MANAGEMENT INCENTIVE PLAN - EXECUTIVE
1. Eligibility - Each Participant shall be given a copy of this 2003 Management Incentive Plan for
Executives (the “Plan”) and required to sign an acknowledgment of its terms. The participants in the Plan are
those approved by the Compensation/Nominating/Corporate Governance Committee (the “Committee”).
2. All participants will be initially evaluated by the Chairman of TCF Financial (the “Chairman”) who will
forward all recommendations to the Committee for approval. The Committee evaluates the performance of the
Chairman. The Committee will consider the diluted Earnings per Share (“EPS”) and shall also evaluate all other
matters it deems appropriate in its sole discretion, subject to limits imposed on such discretion under the
Performance-Based Plan. Evaluations will be performed pursuant to the terms of the TCF Performance-Based
Compensation Policy for Covered Executive Officers (the “Performance-Based Plan”) in the case of Covered
Executive Officers (as defined in that Plan).
3. The criteria for awards (subject to paragraph 4) is as follows: The amount of incentive payable to a
participant shall be determined by the achievement of EPS financial goals on Exhibit A attached. EPS will be
calculated as provided in the Performance-Based Plan, using diluted GAAP EPS, rounded to the nearest cent.
The bonus percentage shall be calculated, in the case of EPS achievement which falls between goals, by
interpolation as follows: The amount by which the EPS achievement exceeds the goal shall be divided by the
amount between the EPS goal exceeded and the next EPS goal. The result shall be stated in the form of a
percentage which shall be multiplied by the total bonus percentage points between EPS goals. The result shall be
added to the bonus percentage corresponding to the EPS goal that was exceeded. The maximum bonus shall be
200%, even if achievement exceeds $3.60 E