Document:

Bankwide Incentive Compensation Plan

 Exhibit 10.12 
  
 BANKWIDE INCENTIVE COMPENSATION PLAN 
  
 FOR THE 
  
 FEDERAL HOME LOAN BANK OF ATLANTA 
  
 (Amended January 1, 2006) 
  

	I.	EFFECTIVE DATE OF PLAN 

  
 The Bankwide Incentive Plan (the “Plan”) of the Federal Home Loan Bank of Atlanta (the “Bank”) will be effective as of January 1,
1995. Incentive Compensation Awards (“Awards”) may be made for each Plan Year (January 1 to December 31) thereafter, in accordance with the provisions of the plan. 
  

	II.	PURPOSES 

  
 The purposes of the Plan are as follows: 
  

	 	A.	To increase employees’ commitment, involvement and knowledge of the Bank’s business objectives each year. 

  

	 	B.	To increase focus on the critical success factors, such as soundness, profitability, and growth, and the indicators of those factors, as well as the development of new and expanded
programs designed to effectively address the housing and community development needs of Bank members and the communities served. 

  

	 	C.	To encourage employees to contribute significantly to enhancing the profitability and success of the Bank by providing rewards for exceeding corporate objectives.

  

	III.	ADMINISTRATION 

  
 The Board of Directors of the Bank (the “Board”) is ultimately responsible for the Plan. Unless otherwise provided herein, the Plan shall be
administered under the direction of the Human Resources Committee of the Board (the “Committee”), which has authority and responsibility to construe, administer, and interpret the Plan as approved by the Board. Except as otherwise
determined by the Board, any decision made or action taken by the Committee arising out of, or in connection with, the construction, administration, or interpretation of the Plan shall lie within the Committee’s absolute discretion and will be
conclusive and binding upon all persons. 
  

					
	Bank-wide Incentive Plan	 	Item 3.b.3	  	 

 Bankwide Incentive Compensation Plan 
 Page 2 
  

 Each Plan Year, the Committee shall have the following responsibilities, subject to final approval by
the Board: 
  

	 	A.	To identify the number of eligible participants and potential payouts in the Plan. 

  

	 	B.	To establish the plan goals and determine the potential Awards or incentive opportunity that might be paid to participants of the Plan in the event that the plan goals are achieved.

  

	 	C.	To recommend to the Board any exception to the documented Plan guidelines as they relate to Participant eligibility, actual award amounts, overall performance of an individual
Participant, level of goal achievement, or any other aspect of the Plan administration. 

  
 After approval by the Committee and Board, the Bankwide Incentive Compensation Plan Management Committee (the “Management Committee”) will be
empowered by the Committee to administer the Plan. The Management Committee shall be composed of the President, the Director of Human Resources, and/or other Senior Officers as designated by the President. 
  
 The President shall be appointed as the Chairman of the Management
Committee. The President shall ensure that the Plan is administered in a timely and effective manner. He shall report findings and conclusions regarding the Plan’s operation and recommended Awards to the Committee, who shall, in turn, report
these findings and recommendations to the Board of Directors for final approval. 
  
 Any costs incidental to the administration of the Plan shall be borne by the Bank and shall not be charged to the amount available for Awards in any Plan Year. 
  

	IV.	BASIS FOR INCENTIVE AWARD DETERMINATION 

  
 At the beginning of the Plan year, objective(s) will be established and recommended by the Management Committee to the Committee and Board. The
objective(s) shall be designed to be attainable, but not without significant effort. 
  

					
	Bank-wide Incentive Plan	 	Item 3.b.3	  	 

 Bankwide Incentive Compensation Plan 
 Page 3 
  

	V.	PARTICIPANT ELIGIBILITY 

  
 Eligible employees shall include all employees whose employment began on any day during the plan year, who are not participants in any other Bank
incentive plan, with eligibility beginning on the date of hire. In addition, no employee of the Bank will be eligible for a payout in the event of any documented performance deficiency, which renders his or her overall performance as unsatisfactory
during the Plan Year. 
  

	VI.	INCENTIVE OPPORTUNITIES AND AWARD PAYMENTS 

  
 The level of incentive opportunity will be established for each plan year and may include a minimum, target, and maximum incentive opportunity. At the
conclusion of each Plan Year, the Management Committee shall recommend to the Committee and the Board the Award to be paid to plan participants for that Plan Year based on consideration of corporate performance against the stated objectives.
Payments of Awards under the Plan shall be made as soon as possible after the close of each Plan Year. 
  
 The basis of compensation to be used in calculating incentive compensation awards will include regular base pay earned during the year, plus overtime
earned during the year, less deductions for sick leave. Appropriate provisions shall be made for any taxes that the Bank determines are required to be withheld from any Awards under the applicable laws or other regulations of any governmental
authority, whether Federal, state, or local. 
  
 If a participant
terminates his/her employment with the Bank for any reason during the Plan Year, or after the Plan Year but before the Award payout, he/she forfeits all rights to any Award for that Plan Year. 
  
 Each payment of an Award shall be from the general assets of the Bank.

  

	VII.	TERMINATION OR AMENDMENT 

  
 The Plan, in whole or in part, may at any time or from time to time be amended, suspended, or reinstated and may at any time be terminated by action of
the Board. 
  
 No amendment, suspension, or termination of the
Plan by the Board shall, without the consent of the participant, affect the rights of the participant to any Award previously granted which (i) shall not yet have been paid to the participant, and (ii) has not been forfeited by the
participant. 
  

					
	Bank-wide Incentive Plan	 	Item 3.b.3	  	 

 Bankwide Incentive Compensation Plan 
 Page 4 
  

	VIII.	 MISCELLANEOUS PROVISIONS 

  

	 	A.	Neither the adoption of the Plan nor its operation shall in any way affect the right and power of the Bank to dismiss, or otherwise terminate the employment of any employee at any
time, for any reason, with or without cause. 

  

	 	B.	When appropriate in the context, words in the masculine shall include the feminine, and vice versa; and words in the singular shall include the plural and vice versa.

  

	 	C.	The Plan shall be governed by the law of the State of Georgia, except when superseded by the laws of the United States. 

  
 END OF PLAN 
  

					
	Bank-wide Incentive Plan	 	Item 3.b.3Sales Incentive

 Exhibit 10.13 
  
 SALES INCENTIVE COMPENSATION PLAN (SICP) 
  
 FOR THE 
  
 FEDERAL HOME LOAN BANK OF ATLANTA 
  
 (Amended January 1, 2006) 
  

	I.	EFFECTIVE DATE OF PLAN 

  
 The Sales Incentive Compensation Plan (the “Plan”) of the Federal Home Loan Bank of Atlanta (the “Bank”) will be effective as of
July 1, 1991. Incentive Compensation Awards (“Awards”) may be made for each Plan Year (January 1 to December 31) thereafter, in accordance with the provisions of the plan. 
  

	II.	PURPOSES 

  
 The purposes of the Plan are as follows: 
  

	 	A.	To foster a teamwork approach in increasing both membership and greater utilization of credit and non-credit products and services. 

  

	 	B.	To increase focus on the critical success factors, such as soundness, profitability, and growth, and the indicators of those factors, as well as the development of new and expanded
programs designed to effectively address the housing and community development needs of Bank members and the communities served. 

  

	 	C.	To encourage team members to contribute significantly to enhancing the profitability and success of the Bank by providing rewards for exceeding key team and individual objectives.

  
 In summary, the Plan should further motivate
team members to attain Bank and individual performance goals through a process of planning, review, and reward for goal attainment. 
  

	III.	ADMINISTRATION 

  
 The Board of Directors of the Bank (the “Board”) is ultimately responsible for the Plan. The Plan shall be administered under the direction of
the Human Resources Committee of the Board (the “Committee”), which has authority and responsibility to construe, administer, and interpret the Plan as approved by the Board. Except as otherwise determined by the Board, any decision made
or action taken by the Committee in connection with the Plan shall lie within the Committee’s absolute discretion and will be conclusive and binding upon all persons. 

 Sales Incentive Compensation Plan Document 
 Page 2 
  

 Each Plan Year, the Committee shall have the following responsibilities, subject to final approval by
the Board: 
  

	 	A.	To select participants in the Plan based on recommendations from Management. 

  

	 	B.	To establish the range of potential Awards or incentive opportunity that might be paid to each participant in the Plan. 

  

	 	C.	To approve objectives for Plan participants. 

  

	 	D.	To recommend to the Board any exception to the documented Plan guidelines as they relate to Participant eligibility, actual award amounts, overall performance of an individual
Participant, level of goal achievement, or any other aspect of the Plan administration. 

  
 Objectives for Plan participants shall, subject to approval by the Board, be determined by the Sales Development Incentive Compensation Management
Committee (the “Management Committee”) who shall be empowered by the Committee to administer the Plan. The Management Committee shall be composed of the President, the Vice President and Director of Human Resources, and/or other qualified
Senior Officers as designated by the President. 
  
 Under the
authority of the Committee, the President shall be appointed as the Chairman of the Management Committee. The President shall ensure that the Plan is administered in a timely and effective manner. The Management Committee shall report findings and
conclusions regarding the Plan’s operation and Awards to the Committee, who shall, in turn, report these findings and recommendations to the Board for final approval. 
  
 Any costs incidental to the administration of the Plan shall be borne by the Bank and shall not be charged to the amount
available for Awards in any Plan year. 
  

	IV.	BASIS FOR INCENTIVE AWARD DETERMINATION 

  
 At the beginning of the Plan year, objectives for the participants will be established and recommended by the Management Committee. These objectives are
to represent specific accomplishments desired within the 

 Sales Incentive Compensation Plan Document 
 Page 3 
  

 
framework of the responsibilities of the participants. Objectives may apply to the full Plan Year or to a portion of the Plan Year, as appropriate. Each
objective shall be designed to be attainable, but not without significant effort. 
  
 Objectives should accomplish the following: 
  

	 	A.	Provide a system whereby the Management Committee, the Board and the participant mutually agree on critical objectives to attain. 

  

	 	B.	Reward the participants for individual attainment of objectives, in order to provide an incentive to the participant as an individual as well as a member of a group.

  

	 	C.	Include a discretionary element into the Plan to give the Management Committee and the Board flexibility in ensuring that the Plan accomplishes its purpose.

  

	V.	PARTICIPANT ELIGIBILITY 

  
 Eligible employees shall include those regular full-time employees who, in the opinion of the Management Committee as confirmed by the Board, serve in
positions which have the capacity to significantly impact the sales efforts of the Bank and who are not participants in any other Bank Incentive Plan, with eligibility beginning on the date of hire. 
  
 The Management Committee shall select annually those employees eligible to
participate in the Plan. The Management Committee shall advise the Committee and Board of the names of such participants, and shall notify the employees selected to participate. No employee shall have the automatic right to be selected as a
participant for any year, or having been selected for one year, be automatically considered a participant any other year. 
  
 Participants deemed eligible to receive an incentive award whose employment began on any day during the play year, will be eligible beginning on the date
of hire. In addition, no employee of the Bank will be eligible for a payout in the event of any documented performance deficiency which renders his or her overall performance as unsatisfactory during the Plan Year. 

 Sales Incentive Compensation Plan Document 
 Page 4 
  

	VI.	INCENTIVE OPPORTUNITIES AND AWARD PAYMENTS 

  
 The level of incentive opportunity will be established for each participant for the Plan Year. Each level shall contain a minimum, target, and maximum
incentive opportunity. At the conclusion of each Plan Year, the Management Committee shall recommend to the Committee and the Board the Award to be paid to each participant for that Plan Year based on consideration of team and individual performance
against the stated objectives. Payments of Awards under the Plan shall be made as soon as possible after the close of each Plan Year. 
  
 The basis of compensation to be used in calculating incentive compensation awards will include regular base pay earned during the year, plus overtime
earned during the year, less deductions for sick leave. Appropriate provisions shall be made for any taxes that the Bank determines are required to be withheld from any Awards under the applicable laws or other regulations of any governmental
authority, whether Federal, state, or local. 
  
 Employees who
join the sales effort from other departments in the Bank will be considered for eligibility to participate in the Plan on a pro-rata basis based on the beginning date in the Sales unit. If a participant terminates his employment with the Bank for
any reason during the Plan Year, or after the Plan Year but before the Award payout, he forfeits all rights to any Award for that Plan Year. 
  
 Each payment of an Award shall be from the general assets of the Bank. 
  

	VII.	TERMINATION OR AMENDMENT 

  
 The Plan, in whole or in part, may at any time be amended, suspended, or reinstated and may at any time be terminated by action of the Board. 

 
 No amendment, suspension, or termination of the Plan by the Board shall,
without the consent of the participant, affect the rights of the participant to any Award previously granted which (i) shall not yet have been paid to the participant, and (ii) has not been forfeited by the participant. 
  

	VIII.	 MISCELLANEOUS PROVISIONS 

  

	 	A.	Neither the adoption of the Plan nor its operation shall in any way affect the right and power of the Bank to dismiss, or otherwise terminate, the employment of any employee at any
time, for any reason, with or without cause. 

 Sales Incentive Compensation Plan Document 
 Page 5 
  

	 	B.	When appropriate in the context, words in the masculine shall include the feminine, and vice versa; and words in the singular shall include the plural and vice versa.

  

	 	C.	The Plan shall be governed by the law of the State of Georgia, except when superseded by the laws of the United States. 

  
 END OF PLAN

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