AGCO Corporation Director Compensation Summary for Non-Employee Directors (Effective December 5, 2007)

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Summary

This document outlines the compensation structure for non-employee directors of AGCO Corporation as of December 5, 2007. It details annual retainers, meeting fees, and an annual stock grant award for directors, including additional amounts for lead directors and committee chairpersons. Directors are also reimbursed for reasonable out-of-pocket expenses related to meeting attendance. Payments are made quarterly, and adjustments are made for changes in board or committee roles. The stock grant is valued at $75,000 based on the share price at the annual shareholders meeting.

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EX-10.8 9 g11014exv10w8.htm EX-10.8 DIRECTOR COMPENSATION SUMMARY, EFFECIVE AS OF DECEMBER 5, 2007 EX-10.8 DIRECTOR COMPENSATIN SUMMARY  

Exhibit 10.8
AGCO CORPORATION DIRECTOR COMPENSATION
FOR NON-EMPLOYEE DIRECTORS
(As of December 5, 2007)
         
RETAINERS (1)
        
 
        
Annual Lead Director Retainer (paid only to Lead Director):
   $ 25,000  
 
        
Annual Director Base Retainer (applies to all directors):
   $ 40,000  
 
        
Annual Committee Chairperson Retainer (except Audit Committee Chair):
   $ 10,000  
 
        
Annual Audit Committee Chairperson:
   $ 15,000  
 
        
Annual Committee Member Retainer:
   $ 5,000  
 
        
MEETING FEES
        
 
        
Board Meeting Attendance:
   $ 2,000  
 
        
Committee Meeting Attendance:
        
Chairperson:
   $ 1,500  
Members:
   $ 1,000  
 
        
Telephone Meeting Participation:
        
Chairperson:
   $ 1,000  
Members:
   $ 500  
 
        
ADDITIONAL COMPENSATION
        
 
        
Annual AGCO Stock Grant Award (2)
   $ 75,000  
In addition, the Company will reimburse directors for the reasonable out-of-pocket expense incurred in the attendance of the meetings.

 

 

Notes:
  1   Payment of annual retainers are made in accordance with the following provisions:
  (i)   Annual retainers are paid quarterly in four installments (for ease of calculation purposes quarters are divided into 90 days with a 360 day year).
 
  (ii)   Annual retainers accrue as of the first day of each calendar quarter based on the Board and Committee Membership Roster in effect on that date.
 
  (iii)   Annual Retainers are paid in advance during the first month of the given calendar quarter (e.g., January for the first quarter).
 
  (iv)   Changes to Board and Committee Memberships (including chairpersons) will be reviewed and adjustments made to the current quarters retainer amounts (up or down).
 
  (v)   Any changes in the retainer amounts due for the current quarter will be reflected in the ensuing quarters retainer payment.
  2   Terms applicable to the Stock Grant Award are defined in the Plan Document. The stock grant equivalent to $75,000 is based on closing price on the day of the annual shareholders meeting.