Amendment to Monsanto Company Fiscal Year 2007 Annual Incentive Plan Summary
This amendment updates the Monsanto Company's Fiscal Year 2007 Annual Incentive Plan to specify that any incentive award granted under the plan is subject to the company's Recoupment Policy if the recipient is a Specified Executive Officer. The Recoupment Policy, adopted by the Board of Directors on October 24, 2006, allows the company to recover incentive awards under certain conditions. The amendment applies to awards for the performance period from September 1, 2006, to August 31, 2007.
EXHIBIT 10.23.1
AMENDMENT TO FISCAL YEAR 2007
ANNUAL INCENTIVE PLAN SUMMARY
EFFECTIVE OCT. 24, 2006
(September 1, 2006 through August 31, 2007 Performance Period)
The Fiscal Year 2007 Annual Incentive Plan Summary has been amended to include the following:
An award under the Plan is deemed to be an “incentive award” covered by the terms of the Monsanto Company Recoupment Policy adopted by the Board of Directors of the Company on October 24, 2006, if the participant is a “Specified Executive Officer” (within the meaning of said Recoupment Policy) at the relevant time or times.
