First Amendment to AGCO Corporation 2006 Long Term Incentive Plan

Summary

This amendment updates AGCO Corporation's 2006 Long Term Incentive Plan. It changes the definition of "Performance Period" to allow up to 250,000 Performance Shares to have periods shorter than one year. It also states that any future amendments that significantly increase participant benefits or expand who is eligible must be approved by the company's stockholders. The amendment is effective immediately and is signed by an authorized officer of AGCO Corporation.

EX-10.1 2 g02613exv10w1.htm EX-10.1 FIRST AMENDMENT TO 2006 LONG TERM INCENTIVE PLAN EX-10.1 FIRST AMENDMENT TO LONG TERM INCETIVE PLAN

Exhibit 10.1

FIRST AMENDMENT TO
AGCO CORPORATION
2006 LONG TERM INCENTIVE PLAN

(As adopted August 27, 2006)

Pursuant to Article IX of the 2006 AGCO Long Term Incentive Plan (the “Plan”), the Plan is amended as follows effectively immediately:

1. Section 2.18 of the Plan is amended by deleting the first sentence thereof and replacing it with the following:

The term “Performance Period” means with respect to an Award, a period of not less than one year within which the Performance Measures relating to such Award are to be measured. Notwithstanding the foregoing, up to 250,000 Performance Shares may have Performance Periods that are less than one year.”

2. Article IX of the Plan shall be amended by adding at the end thereof the following:

Notwithstanding the foregoing, no amendment that (i) materially increases the benefits accruing to participants under the Plan, or (ii) materially expands the definition of Eligible Employee shall be effective until such amendment has been approved by stockholders of the Company.

IN WITNESS WHEREOF, the Company has caused this Amendment to be executed by its duly authorized officer this 27th day of July, 2006.


	AGCO CORPORATION
	By:	/s/ Stephen Lupton
		Title: Senior Vice President and
		General Counsel