exv10w28



 








EXHIBIT 10.28




Annual Cash Compensation of Named Executive Officers



The executive officers named in the compensation table in Monsanto’s proxy statement dated December
6, 2006 (the “Named Executive Officers”) have their base salaries determined yearly by the People
and Compensation Committee (the “Committee”) of the Board of Directors. It is anticipated that
such determinations will occur annually, effective as of the first day of the pay period in which
the subsequent January 1 occurs. The Named Executive Officers are all “at will” employees, and do
not have written or oral employment agreements other than change of control agreements, the form of
which is filed, as required, as an exhibit to reports filed by the Company under the Securities
Exchange Act of 1934. The Company, upon the approval of the Committee, retains the right to
unilaterally decrease or increase the Named Executive Officers’ base salaries at any time.



The Named Executive Officers are eligible to participate in the Company’s annual incentive
compensation plans for all regular employees, including executive officers, which provide for cash
awards. Summaries of such annual incentive compensation plans are filed as exhibits, as required,
to reports filed by the Company under the Exchange Act.



On October 22, 2007, the Committee approved for the Company’s Named Executive Officers the
following base salaries to become effective as of December 31, 2007 and the following annual
incentive awards for the 2007 fiscal year, which will be paid on November 9, 2007:




	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Base Salary	 	 	Base Salary	 	 	FY 2007 Annual	 
	Named Executive Officer	 	(as of 01/01/07)	 	 	(as of 12/31/07)	 	 	Incentive Award	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Hugh Grant

Chairman of the Board, President

and Chief Executive Officer
	 	$	1,144,000	 	 	$	1,355,000	 	 	$	2,975,000	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Charles W. Burson

Special Assistant and Counsel to the

Chief Executive Officer*
	 	 	N/A	*	 	 	N/A	*	 	$	175,000	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Carl M. Casale

Executive V.P., Strategy & Operations**
	 	$	510,000	 	 	$	530,000	 	 	$	740,000	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Terrell K. Crews

Executive V.P. and

Chief Financial Officer and

Seminis Chief Executive Officer**
	 	$	540,000	 	 	$	565,000	 	 	$	760,000	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Robert T. Fraley, Ph.D.

Executive V.P. and Chief

Technology Officer
	 	$	550,000	 	 	$	575,000	 	 	$	770,000	 








 




			
	*	 	Mr. Burson served as Executive V.P., Secretary and General Counsel during the 2006 fiscal year.
In fiscal year 2007, Mr. Burson served as Special Assistant and Counsel to the Chief Executive
Officer through his retirement on Dec. 31, 2006. He was awarded a prorated annual incentive
award for fiscal year 2007, in accordance with the company’s annual incentive plan.
	 
	**	 	Prior to Oct. 23, 2007, Mr. Casale held the office of Executive V.P., North America Commercial
and Mr. Crews held the office of Executive V.P. and Chief Financial Officer. Effective Oct. 23,
2007, the Board of Directors elected Messrs. Casale and Crews to the offices listed above.




The Company intends to provide additional information regarding other compensation awarded to the
Named Executive Officers in respect of and during the 2007 fiscal year in the proxy statement for
its 2008 annual meeting of shareowners, which is expected to be filed with the Securities and
Exchange Commission in December 2007.