exv10w26



 





EXHIBIT 10.26




Annual Cash Compensation of Named Executive Officers



The executive officers named in the compensation table in Monsanto’s proxy statement dated
December 14, 2005 (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 23, 2006, the Committee approved for the Company’s Named Executive Officers the
following base salaries to become effective as of January 1, 2007 and the following annual
incentive awards for the 2006 fiscal year, which will be paid on November 10, 2006:




	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Base Salary	 	Base Salary	 	FY 2006 Annual
	Named Executive Officer
	 	(as of 01/02/06)
	 	(as of 01/01/07)
	 	Incentive Award

	Hugh Grant

	 	$	1,100,000	 	 	$	1,144,000	 	 	$	1,958,000	 
	Chairman of the Board, President
	 	 	 	 	 	 	 	 	 	 	 	 
	and Chief Executive Officer
	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Charles W. Burson

	 	$	460,000	 	 	 	N/A*	 	 	$	485,000	 
	Special Assistant and Counsel
	 	 	 	 	 	 	 	 	 	 	 	 
	to the Chief Executive Officer*
	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Carl M. Casale

	 	$	490,000	 	 	$	510,000	 	 	$	605,000	 
	Executive V.P., North
	 	 	 	 	 	 	 	 	 	 	 	 
	America Commercial
	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Terrell K. Crews

	 	$	510,000	 	 	$	540,000	 	 	$	600,000	 
	Executive V.P. and
	 	 	 	 	 	 	 	 	 	 	 	 
	Chief Financial Officer
	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Robert T. Fraley, Ph.D.

	 	$	525,000	 	 	$	550,000	 	 	$	650,000	 
	Executive V.P. and Chief
	 	 	 	 	 	 	 	 	 	 	 	 
	Technology Officer
	 	 	 	 	 	 	 	 	 	 	 	 





* During the 2006 fiscal year, Mr. Burson served as Executive Vice President, Secretary and
General Counsel. Mr. Burson will serve as Special Assistant and Counsel to the Chief Executive
Officer through his retirement on Dec. 31, 2006.



The Company intends to
provide additional information regarding other compensation awarded to the Named Executive Officers in respect of and during the 2006 fiscal year in the proxy
statement for its 2007 annual meeting of shareowners, which is expected to be filed with the
Securities and Exchange Commission in December 2006.