Company: AGM-PH
Filing Date: 2025-04-16
Form Type: DEF 14A
Source: 0000845877-25-000143
Chunk: 84

Company: FEDERAL AGRICULTURAL MORTGAGE CORP
Filing Date: 2025-04-16
Form: DEF 14A
Chunk 84
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 Nordholm's annual base salary may not be decreased below $800,000.

• Annual Incentive Compensation. The Agreement set Mr. Nordholm’s target annual cash incentive payment at 100% of his base salary for work performed starting January 1, 2021. The target amount for annual cash incentive payments has not been increased since then, but will be reviewed periodically by Farmer Mac and may be modified in the sole discretion of the Board or the Compensation Committee of the Board.

• Long-Term Incentive Compensation . Under the Agreement, Mr. Nordholm is eligible to receive awards of long-term incentive compensation from time to time in a form, and subject to such conditions, as determined by the Board or the Compensation Committee of the Board in its sole discretion. On March 5, 2024 (when 2024 long-term incentive awards were made to other senior executives of Farmer Mac), the Board

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| EXECUTIVE COMPENSATION GOVERNANCE |

granted Mr. Nordholm long-term equity compensation valued at approximately $1,450,000 under the methodology prescribed in Farmer Mac’s policy on grants of equity-based compensation and subject to similar terms and conditions as apply to similar 2024 annual long-term incentive grants made to other senior executives of Farmer Mac. This target amount for the value of annual long-term incentive compensation awarded in future years will be reviewed periodically by Farmer Mac and may be modified in the sole discretion of the Board or the Compensation Committee of the Board. The Agreement provides that Mr. Nordholm shall not be entitled to receive an award of long-term incentive compensation in 2026 even though other senior executives of Farmer Mac may receive annual long-term incentive grants in 2026.

• Expense Reimbursement . Farmer Mac will reimburse actual reasonable and necessary business expenses incurred by Mr. Nordholm in carrying out his duties under the Agreement, in each case in accordance with Farmer Mac’s policies as in effect from time-to-time and subject to Mr. Nordholm’s compliance with the terms of those policies.

• Benefits . Mr. Nordholm is eligible to participate in the welfare benefit plans and programs, incentive, savings, and retirement compensation programs, and other employee benefits generally available to other senior executives of Farmer Mac and on terms no less favorable than for other senior executives of Farmer Mac. Mr. Nordholm is also entitled to five weeks of paid vacation per year.

• Events of Termination . Mr. Nordholm’s employment will terminate upon his death or disability and may be terminated at any time