Document:

Executive Incentive Compensation Plan

 Exhibit 10.1 
 2007 FEDERAL HOME LOAN BANK OF INDIANAPOLIS 
 INCENTIVE COMPENSATION PLAN 
 Definitions: 
  

	(1)	Potential Dividend is defined as adjusted net income as a percentage of average total capital stock. Adjusted net income is adjusted (i) for the effects of current and prior
period prepayments and debt extinguishments, (ii) to exclude mark to market adjustments and other effects from SFAS 133, (iii) to exclude the effects from SFAS 150, and (iv) to exclude the direct costs from the early retirements in
2006. Assumes no material change in investment authority under FHFB’s FMP, regulation, policy, or law. 

  

	(2)	Average annual advances for all members except Fifth Third Bank, Michigan; LaSalle Bank Midwest NA; Citizens Republic Bank; Flagstar Bank; and non-members. Includes CIP
advances. Advances number does not take into account SFAS 133 adjustments. 

  

	(3)	Mortgage Purchase Program production will be the amount of all MDCs traded in 2007 except for those traded by LaSalle Bank Midwest NA. Assumes no capital requirement for MPP. It
also assumes no material change in MPP authority under FHFB’s FMP, regulation, policy, or law. When calculating achievement between the minimum threshold and the performance target, no single member can account for more than 25% of production.

  

	(4)	Mortgage Purchase Program number of new sellers will be the number of members that sell into MPP in 2007 that did not sell any mortgages into MPP in 2006. Assumes no capital
requirement for MPP. It also assumes no material change in MPP authority under FHFB’s FMP, regulation, policy, or law. 

  

	(5)	Newly-originated Community Investment Cash Advances, including CIP and other qualifying advances, provided in support of targeted projects as defined in 12 CFR Part 952 and the
FHLBank Act. 

 Plan Terms: 
 By resolution the Board of Directors may reduce or eliminate a payout that is otherwise earned under this Plan, if the Board finds that a serious, material safety-soundness problem or a serious, material risk management deficiency exists at
the Bank. 
 For performance results less than the stated threshold, there is no payout for that particular goal. For performance results
equal to or greater than the stated threshold, the respective payout will be 25% plus the remaining 75% interpolated between the threshold and the respective target for that particular goal. 
 The FHLBank’s Board of Directors may amend this plan at any time during or after the plan year for any reason, including without limitation,
emergency or any unanticipated market conditions outside of management’s control. To be eligible to receive a payment under the plan, the employee must be actively employed on the last work day of the plan year or be on an approved leave of
absence, including FMLA leave. In the event a participant terminates employment during the plan year, he or she will not be eligible to receive incentive payments under the plan, unless the employee terminates because of death, disability, or
scheduled retirement. In these cases or where the board otherwise determines the incentive payment is appropriate, the payment shall be made on a pro-rata monthly basis earned through the date of termination assuming a satisfactory or better job
performance record up to the date of termination. 
 The plan in its entirety is discretionary and may be discontinued by the board of
directors at any time. It is not intended to create any vested rights to employees or their beneficiaries. This plan shall not be considered a contract and nothing in the plan shall be construed as providing participants any assurance of continued
employment for any definite period of time, nor any assurance of current or future earnings. This plan shall not, in any manner, limit the Bank’s right to reduce or terminate compensation and/or employment at its will, with or without cause.

 The maximum bonus opportunity for the President-CEO is 50% of annual base salary. For the participating Senior Vice Presidents, the maximum
payout is 35% of annual base salary. For First Vice Presidents and Vice President-Treasury Risk Manager, excluding the Director of Internal Audit, the maximum payout is 25% of base salary. 
 Compensation paid to employees under the Plan will be paid to employees no later than March 15th of the year immediately following the year in which
the compensation is earned, and is not intended to be deferred compensation for purposes of Section 409A of the Internal Revenue Code of 1986, as amended, and/or any Regulations adopted there under. 
  

 Page 1 of 2 

 2007 FHLBANK OF INDIANAPOLIS INCENTIVE COMPENSATION PLAN 
  

												
	 MISSION GOALS
	  	WEIGHTED
VALUE	 	 	MINIMUM
THRESHOLD	 	 	2007 PERFORMANCE
TARGETS	 
	 1. PROFITABILITY
	  			 				 			
	 Potential Dividend over our Cost of Funds (1)
	  	50	%	 	 	50 B.P.	 	 	 	200 B.P.	 
	 2. ADVANCES
	  			 				 			
	 Increase in Average Total Advances (2)
	  	30	%	 	 	4.0	%	 	 	6.0	%
	 3. MORTGAGE PURCHASE PROGRAM
	  			 				 			
	 MPP production (3)
	  	10	%	 	$	300 M	 	 	$	400 M	 
	 # of new sellers (4)
	  	5	%	 	 	6	 	 	 	12	 
	 4. COMMUNITY INVESTMENT
	  			 				 			
	 CIP Advances Originated (5)
	  	5	%	 	$	50 M	 	 	$	100 M	 

  

 Page 2 of 2Directors' Fee Policy effective January 2007

 Exhibit 10.5 
 Policy Board Approved 11-16-06 
 2007 Rates Published 01-12-07 
 As Amended by the Board 01-26-07 
 Federal
Home Loan Bank of Indianapolis 
 Directors’ Compensation and Travel Expense Reimbursement Policy 
 Effective January 1, 2007 
 Annual Fees

 The annual fee schedule for 2007 shall be: 
  

									
	 	  	Annual	  	Quarterly	  	 Meeting Fee Reduction

	 Chair
	  	$	29,944.00	  	$	7,486.00	  	For each in-person regularly scheduled Board or assigned Committee meeting missed, a $100 fee reduction will be assessed, subject to a maximum of $500 for the entire scheduled
meeting event. 1
	 Vice Chair
	  	$	23,955.00	  	$	5,988.75	  
	 Director
	  	$	17,967.00	  	$	4,491.75	  

 Fees shall be paid in four installments: on or before March 31, 2007; on or before June 30, 2007; on or
before September 30, 2007; and on or before December 31, 2007, where a director is duly elected or appointed and in the position as of the last day of the quarter. Annual fees shall be adjusted automatically upon adjustment in the
compensation limits set by the Finance Board based upon any increases in the Consumer Price Index for the previous year. 
 In the event of voluntary
resignation, removal, death, or disability during a quarter, the director or director’s estate shall be entitled to any unpaid portion of up to one-quarter of the applicable annual fee. 
 Payment shall be made to the director, the Bank’s director deferred compensation plan upon timely election, or to a director’s employer pursuant to the terms
of the employer’s authorized charitable contribution plan. 

	 1
	 Meetings considered to be official Bank business for which a board member is responsible for attending
will be established as part of the Board’s schedule for the next year and is limited to pre-scheduled board meetings and pre-scheduled committee meetings for which the director is a member of the committee. Any meetings not scheduled in the
prior year, including special meetings, committee meetings, telephonic conference calls, and System director meetings will not be included in the definition and therefore no deduction will be made if these meetings are missed. Member marketing
meetings, regular industry trade meetings not addressing Bank business, Council of FHLBank meetings, and director orientation meetings are not included in this meeting definition. Any meetings missed due to the director attending other official Bank
business meetings (including meetings called by the Federal Housing Finance Board, the Council of Federal Home Loan Banks, industry, or other outreach events representing the Bank which is pre-approved by the President-CEO or Corporate Secretary),
flight delays, or meeting cancellations by the Bank due to inclement weather or for other circumstances beyond a director’s control (not including illness) will not be included in the meetings definition. Where practical, the absent director
will try to attend via conference telephone. 

  

 -1- 

 Policy Board Approved 11-16-06 
 2007 Rates Published 01-12-07 
 As Amended by the Board 01-26-07 
 Deduction for Missed Meetings 
 Preparation and attendance at board and committee meetings is assumed to be an integral part of each director’s duties and as such, is included in the above fee amounts. However, to ensure attendance at the board
meetings and committee meetings, a deduction from the quarterly payments will be made for missed meetings. 2

 Excessive Absenteeism 
  

	1.	If a director misses all meetings in two consecutive quarters, the fee for that second quarter will not be paid. If after missing two consecutive quarters, a director once again
starts attending, the quarterly fee shall be suspended for the remainder of the director’s term, and the director shall be paid a per meeting fee, for each scheduled board and committee meeting attended by the director thereafter. The daily
meeting fee shall be the regular annual meeting fee divided by the number of board meeting days and committee meetings (for committees of which the director is a member) in a year. However, in no event will the fee paid to such a director for a
quarter exceed the scheduled quarterly installment. 

  

	2.	If a director misses more than 50% but less than all of the scheduled meetings in two consecutive quarters, then thereafter: (a) if the director misses more than 50% of the
scheduled meetings in any quarter, the director’s fee shall be equal to the lesser of (i) the quarterly fee minus any deductions for meetings missed or (ii) the per meeting fee for each board meeting day and committee meeting
attended; or (b) if the director misses 50% or less of the scheduled meetings in each quarter thereafter, the director’s fee shall be equal to the greater of (i) the quarterly fee minus any deductions for meetings missed or
(ii) the per meeting fee for each board meeting day and committee meeting attended, provided that in no event will the fee exceed the originally scheduled quarterly fee. 

  

	3.	If a director misses all meetings in a year, all fees paid to the director shall be refunded to the Bank by the director, and no additional fees shall be paid.

  

	4.	This policy is not intended to address director eligibility and attendance, but directors having routine, unexcused absences will be referred by the Board of Directors to the
Federal Housing Finance Board for possible resignation, suspension or removal under applicable law. 

	 2
	 Meetings considered to be official Bank business for which a board member is responsible for attending
will be established as part of the Board’s schedule for the next year and is limited to pre-scheduled board meetings and pre-scheduled committee meetings for which the director is a member of the committee. Any meetings not scheduled in the
prior year, including special meetings, committee meetings, telephonic conference calls, and System director meetings will not be included in the definition and therefore no deduction will be made if these meetings are missed. Member marketing
meetings, regular industry trade meetings not addressing Bank business, Council of FHLBank meetings, and director orientation meetings are not included in this meeting definition. Any meetings missed due to the director attending other official Bank
business meetings (including meetings called by the Federal Housing Finance Board, the Council of Federal Home Loan Banks, industry, or other outreach events representing the Bank which is pre-approved by the President-CEO or Corporate Secretary),
flight delays, or meeting cancellations by the Bank due to inclement weather or for other circumstances beyond a director’s control (not including illness) will not be included in the meetings definition. Where practical, the absent director
will try to attend via conference telephone. 

  

 -2- 

 Policy Board Approved 11-16-06 
 2007 Rates Published 01-12-07 
 As Amended by the Board 01-26-07 
 Travel Expense Reimbursement 
 Travel expense reimbursement
will be provided for board meetings, committee meetings, director orientation, other director events scheduled concurrently with board meetings, Federal Housing Finance Board System meetings, Council of Federal Home Loan Bank meetings, Community
Investment Conference meetings, or Bank marketing meetings. Travel expenses include reasonable transportation, food, hotel expenses, and reasonable long-distance charges. 
 Expense Procedures 
  

	1.	No gift or entertainment expenses initiated by a director shall be reimbursed without being prearranged by the Bank. Director should review the Bank’s Code of Conduct
concerning gift and entertainment restrictions. 

  

	2.	To qualify for reimbursement, all eligible expenses incurred must be submitted for payment to the Bank within 12 months of the date that the expenses were incurred. This requirement
may be waived, at the discretion of the Senior Vice President-CFO or by the Senior Vice President-Controller, in the event of an error or omission. 

 Spouse/caregiver Travel (Two Events per Year) 
 Expenses of a director’s spouse or caregiver may be reimbursed in accordance with
the Travel Expense Policy subject to a limit of two travel events per year. Spousal entertainment expenses incidental to the hotel property or event are permitted where prearranged by the Bank, subject to two travel events per year. Income
tax reporting will be made by the Bank as required by law, on spousal/caregiver travel if the spouse or caregiver attends the event without a bona fide Bank business purpose. 
 Air Travel and First Class 
  

	1.	The Bank will pay the direct common carrier expense (as defined in paragraph 3 below) for a director between the director’s residence and the site of a Bank function and the
return. The actual cost of private air travel will not be reimbursed, but the equivalent direct common carrier expense (as defined in paragraph 3 below) may be substituted. 

  

	2.	The Bank will pay for a director and spouse (or caregiver) first-class air travel for one trip per year over 1.5 hours in flight time. Additional first-class travel is not allowed,
unless required due to scheduling or flight availability. 

  

	3.	If a director’s non-Bank activity requires a route to attend a Bank function which originates or terminates in a location other than the place of residence, the Bank will
reimburse the director an amount equal to the direct common carrier expense from the director’s location to the location of the Bank function and then to the director’s next intended destination (without regard to stops named as temporary
layovers), subject to a limit of an amount not to exceed two times the direct common carrier expense to the board meeting location and from the director’s residence and return to his residence. 

  

 -3- 

 Policy Board Approved 11-16-06 
 2007 Rates Published 01-12-07 
 As Amended by the Board 01-26-07 
  

	4.	The “direct common carrier expense” shall be the regular market-rate coach or first-class fare as applicable, and should be documented by the director submitting an
expense report. Travel scheduling affecting the direct common carrier expense shall be reasonable, given the timing of the meetings. 

 Issues of Interpretation 
 Unless expressly provided herein or in 12 CFR Part 918 (as amended), the Bank’s current Travel Policy
as contained in the Employee Manual shall control with respect to the travel expense reimbursement. The Federal Housing Finance Board’s former Director Travel Policy (FHFB Resolution 93-12) is superseded, but may be used as non-binding
precedent should issues of interpretation arise. The Senior Vice President-CFO and Senior Vice President-Controller are authorized, in their respective reasonable discretion, to interpret the provisions of the policy and to address situations not
anticipated by the policy, consistent with the requirements set forth in the statute or the regulations promulgated by the Federal Housing Finance Board. 
 Human Resources Committee Annual Review 
 The Human Resources Committee shall annually review this policy and shall submit its
recommendation to the board for approval no later than the last regularly scheduled meeting of the board for the year. 
  

	CC:	Paul Weaver 

 Becky Harter 
 Mike Barker 
 Teresa Butler 
 Policy Notebook 
 Board Travel Policy file

 Director / Staff Portal 
  

 -4-

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00120-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00120-of-00352.parquet"}]]