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Memorandum Agreement, dated February 9, 2021, between Freddie Mac and David M. Brickman
EX-10.2 5 a1q2110qex102.htm EX-10.2 Document
David M. Brickman February 9, 2021
I am writing to bring a matter to your attention regarding your 2020 compensation from Freddie Mac.
As you know, the Equity in Government Compensation Act of 2015 (“Act”) limits the amount of compensation to the CEO of no more than $600,000 annually. As part of our year end process in producing the Executive Compensation disclosure for the 2020 Annual Report, we identified the fact that you have received base salary during the 2020 calendar year in excess of $600,000.
The total amount in excess of $600,000 is $23,076.93. The excess is directly attributable to an extra pay period in 2020. There were 27 pay periods in 2020 as opposed to the normal 26 pay periods that typically occur in a calendar year.
Due to this overpayment, Freddie Mac is hereby requesting that you repay the net (after federal and state tax withholding) amount of $15,216.90.
If you would like to reduce this repayment amount further, you may sign the attached FICA form regarding your Medicare taxes, which would authorize Freddie Mac to seek a refund of these taxes and consequently reduce the repayment amount to $14,882.28. (Otherwise, if you wish, you can pay the slightly larger amount, and seek the Medicare tax refund yourself.)
Please sign below to affirm your agreement to make this repayment, and return the signed copy back to me electronically at firstname.lastname@example.org at your earliest convenience. Then please send a check in the above amount made out to Freddie Mac to 131 S. Dearborn, 6th Floor, Chicago, Illinois 60603. Please add the following to the memo line on the check: *Account Number Redacted*.
VP & Deputy General Counsel
_/s/ David M. Brickman____________________
David M. Brickman
Federal Home Loan Mortgage Corporation
CLAIM FOR FICA TAX REFUND
Federal law requires that we obtain your signature before a refund of prior year FICA tax can be processed. Please complete the information below and return this form to:
8200 Jones Branch Drive
McLean, VA 22102
The form may be faxed to ###-###-#### or emailed to email@example.com
I certify I have not claimed and will not claim, from the Internal Revenue Service, a refund in the amount of FICA taxes withheld from my wages during the time period indicated below.
I request the FICA taxes withheld be refunded to me by Federal Home Loan Mortgage Corporation.
NAME (please print) __David M. Brickman_________________________
Employee ID_*Employee ID Redacted*_
________ *Address Redacted*____________________________________________________________
Period of Withholding 2020
Reason for Refund Repayment of wages due to exceeding the statutory limit of $600,000 in calendar year 2020.
Signature__/s/ David M. Brickman_______________________________ Date__2/2/2021_______