Federal Agricultural Mortgage Corporation Directors Compensation Adjustment Agreement (June 1, 2006)

Contract Categories: Human Resources › Compensation Agreements
Summary

The Federal Agricultural Mortgage Corporation's Board of Directors approved changes to director compensation effective June 1, 2006. The annual retainer for directors was increased to $14,000, and the per diem for attending Board and Committee meetings was raised to $1,000 per day. The Chairman of the Board's annual retainer was set at $21,500, and the Chairman of the Audit Committee's retainer was set at $19,000. These changes outline the updated compensation structure for the company's directors.

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EX-10.19 8 directorscompensation.htm DIRECTORS COMPENSATION Directors Compensation
Exhibit 10.19


On June 1, 2006, the Board of Directors of the Federal Agricultural Mortgage Corporation made the following changes to director compensation effective immediately:

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The annual retainer payable to directors was increased from $12,500 to $14,000.
 
·  
The per diem for attending Board and Committee meetings was increased from $750 per day to $1,000 per day.
 
·  
The annual retainer payable to the Chairman of the Board was increased from $17,500 to $21,500.
 
·  
The annual retainer payable to the Chairman of the Audit Committee was increased from $15,000 to $19,000.