Retainers (1) | USD |
Annual Lead Director Retainer (paid only to Lead Director): | 30,000 |
Annual Director Base Retainer (applies to all Directors): | 120,000 |
Annual Committee Chairperson Retainer: (except Audit Committee and Compensation Committee Chair) | 15,000 |
Annual Audit Committee Chairperson Retainer: | 25,000 |
Annual Compensation Committee Chairperson Retainer: | 20,000 |
Additional Annual Retainer for Board Members serving on three committees: | 6,000 |
Additional Compensation | |
Annual AGCO Stock Grant Award (2) | 150,000 |
1) | Payments of annual retainers are made in accordance with the following provisions: |
I) | Annual Retainers are paid quarterly in four installments (for ease of calculation purposes quarters are divided into 90 days with a 360 day year). |
II) | Annual Retainers accrue as of the first day of each calendar quarter based on the Board and Committee Membership Roster in effect on that date. |
III) | Annual Retainers are paid in advance during the first month of the given calendar quarter (e.g., January for the first quarter). |
IV) | Changes to Board and Committee Memberships (including Chairpersons) will be reviewed and adjustments made to current quarter’s retainer amounts (up or down). |
V) | Any changes in the Retainer amounts due for the current quarter will be reflected in the ensuing quarter’s retainer payment. |