Company: FMCCN
Filing Date: 2025-02-13
Form Type: 10-K
Source: 0001026214-25-000040
Chunk: 362

Company: FEDERAL HOME LOAN MORTGAGE CORP
Filing Date: 2025-02-13
Form: 10-K
Item: Item 15
Chunk 362
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, there are no material provisions of any of the agreements we entered into with our NEOs in connection with their hiring as they have either been superseded by the EMCP, as described above, or the provisions are no longer effective, such as sign-on bonuses that have been paid and are no longer subject to repayment.

In connection with Ms. Reid's appointment as our CEO, she was offered relocation benefits to reimburse her for her costs associated with relocating to the Washington, D.C., area. These relocation benefits are subject to repayment if, within 24 months of signing the repayment agreement, Ms. Reid terminates her employment with Freddie Mac for any reason or Freddie Mac terminates her employment due to the occurrence of forfeiture events relating to materially inaccurate information, termination for felony conviction or willful misconduct, gross neglect or gross misconduct, or violation of a post-termination non-competition covenant. 

In connection with Ms. Mason’s appointment as EVP & General Counsel, she was offered relocation benefits to reimburse her for costs associated with relocating to the Washington, D.C., area. These relocation benefits are subject to repayment if, within two years of receiving them, Ms. Mason terminates her employment with Freddie Mac for any reason or Freddie Mac terminates her employment due to the occurrence of any of the Forfeiture Events described in the Recapture and Forfeiture Agreement. 

In connection with Mr. Mittal's employment as SVP - Single-Family Acquisitions, he was offered a cash sign-on award of $1,042,000 in recognition of forfeited compensation at his previous employer, payable in four installments: $409,000 paid on his start date in 2023, $455,000 paid on the first anniversary of his start date, $110,000 paid on the second anniversary of his start date, and $68,000 payable on the third anniversary of his start date. Any unpaid portion of the cash sign-on award will not be paid, and any portion paid within the last year will be subject to repayment, in the event Mr. Mittal terminates his employment with us for any reason or Freddie Mac terminates his employment due to (1) the occurrence of any of the Forfeiture Events described in the Recapture and Forfeiture Agreement, (2) significant misconduct, chronic unexcused absenteeism, disruptive behavior, refusal to perform assigned duties, or other lack of good faith effort to perform assigned duties, (3) him being substantially responsible for Freddie Mac's insolvency or troubled condition, or (4) failure