Director Compensation Adjustment Resolution – Federal Agricultural Mortgage Corporation (Effective January 1, 2011)

Summary

The Board of Directors of the Federal Agricultural Mortgage Corporation approved changes to director compensation, effective January 1, 2011. The annual base retainer for all directors increased to $24,000, and the per diem for attending meetings rose to $1,200. The Chairman of the Compensation Committee's annual retainer increased to $29,000. No changes were made to the additional retainers for the Chairmen of the Board and Audit Committee, whose total annual retainers became $34,000 and $30,500, respectively, due to the base increase.

EX-10.6 5 v214516_ex10-6.htm

Exhibit 10.6

In connection with its review of director compensation on December 2, 2010, the Board of Directors of the Federal Agricultural Mortgage Corporation made the following changes to director compensation, effective January 1, 2011:

The base annual retainer payable to all directors was increased from $20,000 to $24,000.

The cash per diem for attending Board and Committee meetings was increased from $1,000 per day to $1,200 per day.

The incremental annual retainer payable to the Chairman of the Compensation Committee was increased from $3,500 to $5,000, bringing his total annual retainer to $29,000.

No change was made to the $10,000 incremental annual retainer payable to the Chairman of the Board, bringing his total annual retainer to $34,000 based on the increase in annual retainer payable to all directors. In addition, no change was made to the $6,500 incremental annual retainer payable to the Chairman of the Audit Committee, bringing his total annual retainer to $30,500 based on the increase in annual retainer payable to all directors.