Document:

Federal Home Loan Bank of Atlanta 2007 Directors Compensation Policy

 Exhibit 10.6 
 FEDERAL HOME LOAN BANK OF ATLANTA 
 2007 Directors’ Compensation Policy 
  

	A.	General 

  

	 	1.	The Bank will pay each member of the board of directors a fee for attendance at any official meeting (in person or by telephone) of the board or a committee of the board. An
official meeting includes a meeting of any ad hoc committee established by the board for a specific purpose. In addition, the Bank will pay any director representative to the Council of Federal Home Loan Banks (FHLBanks) a fee for attendance at any
official meeting of that group. The Bank will not pay a fee for a director’s attendance at any Federal Home Loan Bank System meeting. The fees for attendance at these meetings are outlined below. 

  

	 	2.	The Bank will pay a fee only for a director’s actual attendance and participation at a meeting, unless the director’s absence is due to unanticipated transportation
problems encountered while in route to the meeting. Participation by telephone for in-person meetings is discouraged unless necessary to attain a quorum. The Bank will not pay for a director’s participation by telephone for an in-person meeting
unless the Chairman approves such participation in writing prior to the meeting. The Bank will not pay a fee for a director’s attendance at meetings other than those described above. 

  

	 	3.	The Bank will not advance the payment of fees to any director. 

  

	 	4.	The Federal Home Loan Bank Act places limits on the amount of compensation payable to any director. In 2007 those limits are: 

  

			
	 a) Chairman of the Board
	  	$29,944
	 b) Vice Chairman of the Board
	  	$23,955
	 c) Director
	  	$17,967

 Once a director has reached his or her statutory limit, the Bank is not permitted to pay additional
fees to that director, even if the director attends a meeting at which a fee otherwise would be paid under this policy. 
  

	B.	Meeting Fees 

  

	 	1.	Chairman 

  

			
	a)	  	$ 2,000 per meeting day of the board when chairing a board meeting
	b)	  	$ 1,200 per meeting of a committee of the board of which he/she is chairman
	c)	  	$ 1,000 per meeting of a committee of the board of which he/she is a member
	d)	  	$    800 per meeting day of the Council of FHLBanks
	e)	  	$    800 per meeting day of the FHLBanks’ Chairs/Vice Chairs

  

	 	2.	Vice Chairman 

  

			
	a)	  	$ 1,750 per meeting day of the board

  

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	b)	  	$ 1,200 per meeting of a committee of the board of which he/she is chairman
	c)	  	$ 1,000 per meeting of a committee of the board of which he/she is a member
	d)	  	$ 2,000 per meeting day of the board when serving as Chairman for the entire meeting
	e)	  	$    800 per meeting day of the Council of FHLBanks
	f)	  	$    800 per meeting day of the FHLBanks’ Chairs/Vice Chairs

  

	 	3.	Director (other than Chairman or Vice Chairman) 

  

			
	a)	  	$ 1,200 per meeting day of the board
	b)	  	$ 1,200 per meeting of a committee when serving as committee chairman
	c)	  	$ 1,000 per meeting of a committee of the board of which he/she is a member
	d)	  	$    800 per meeting day of the Council of FHLBanks
	e)	  	$    500 for attending new director orientation (new directors only)

  

	C.	Miscellaneous 

  

	 	1.	Fees for Special Meetings Held Telephonically 

  

	 	a)	Chairman; Vice Chairman, if serving as Chairman; or Committee Chairman, if serving as Chairman 

 $500 per meeting 
  

	 	b)	Director (other than individual Chairman for the telephonic meeting)  

 $300 per meeting 
  

	 	2.	Travel Expenses 

  

	 	a)	In accordance with the Bank’s normal reimbursement policy, the Bank will reimburse a director’s travel expenses incurred in connection with attendance at any meeting for
which the director is paid a fee. Please consult the Bank’s Travel and Entertainment Policy for a more detailed explanation regarding expense reimbursement. 

  

	 	b)	The Bank will reimburse a director’s travel expenses incurred in connection with any other meeting, hearing, ceremony, etc., in which Bank activities are discussed or conducted
only if the director attends the meeting at the request of, or with the approval of, the Bank President. The Bank will not pay a fee for a director’s participation in these types of activities. 

  

	 	c)	The Bank normally will not reimburse a director’s travel expenses incurred in connection with attendance at meetings other than those described above. For example, absent prior
approval of the Bank President, travel expenses incurred in connection with attendance at any of the following are not reimbursable expenses: 

  

	 	i)	Congressional or regulatory hearings; 

  

	 	ii)	Meetings of trade association committees on the FHLBank System, such as those conducted by the American Bankers’ Association, America’s Community Bankers, or the
Independent Community Bankers’ Association; or 

  

	 	iii)	Meetings of more informal groups, such as the Mortgage Roundtable, which monitor FHLBank System activities. 

  

			
	 Compensation Policy
	  	Page 2 of 3
	January 2007	  	

	 	d)	The Bank will pay the transportation and other ordinary travel expenses of one guest of a director to attend a board meeting only as specified in advance by the Bank. It will be the
director’s responsibility to pay the transportation and other travel expenses of a guest that accompanies such director to any other board meeting. 

  

	 	e)	A board member may invite a guest to Bank-sponsored board dinners or receptions held in connection with board meetings at the expense of the Bank, so long as such guest otherwise
pays his or her own transportation and travel expenses. 

  

	 	f)	The Bank will pay for activities of directors and their guests at board meetings only as specified in advance by the Bank. 

  

			
	 Compensation Policy
	  	Page 3 of 3
	January 2007Short-Term Incentive Compensation Plans

 Exhibit 10.8 
 FEDERAL HOME LOAN BANK OF ATLANTA 
 Short-Term Incentive Compensation Plans 
 (Amended January 1, 2007) 
  

	I.	PLANS AND EFFECTIVE DATES 

 The Short-Term Incentive
Compensation Plans of the Federal Home Loan Bank of Atlanta (Bank) referenced in this document are effective as of January 1, 2007. This document governs the administration of the Bankwide, Sales, and Executive Short-Term Incentive Compensation
Plans (collectively, the Plans). Short-term incentive compensation plan goals, participants, award opportunities, and awards may be determined for each of the Plans for each plan year (January 1 to December 31) in accordance with the provisions
of this document. 
  

	II.	PURPOSES 

 The Bank’s Plans are designed to
promote: 
  

	 	•	 	 Attaining short-term performance objectives determined by the board. 

  

	 	•	 	 Optimizing the value of Bank membership. 

  

	 	•	 	 Attaining the Bank’s public policy mission, which is to promote housing and community development generally by making loans, also know as advances, to member
financial institutions, and to encourage regional affordable housing programs, which create housing opportunities for low- and moderate-income families. 

  

	 	•	 	 Managing effectively the Bank’s financial, business, operational, reputation, regulatory, and human resources risks. 

  

	III.	ADMINISTRATION 

 The board of directors of the Bank
ultimately is responsible for administering the Plans. Unless otherwise provided herein, the Plans shall be administered under the direction of the Governance and Compensation Committee of the board of directors, or such other committee as the board
of directors may direct from time to time (Committee). 
 Under the authority of the Committee, the President shall serve as the Chairman of
the Incentive Compensation Management Committee (Incentive Committee). The members of the Incentive Committee shall be appointed by the President, and the Incentive Committee shall assist the President in the performance of his or her duties
hereunder, as directed by the President. The President shall ensure that the Plans are administered in a timely and effective manner, and that periodic analyses of the effectiveness of the Plans are undertaken. He shall report to the Committee
findings and conclusions regarding the Plans’ operations, and he shall recommend to the Committee, except as to himself, the participants, the goals, the award opportunities, and the awards under the Plans. The Committee, in turn, shall report
these findings and recommendations to the board of directors for final approval. 
  

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 Each plan year, the Committee shall recommend to the board of directors the following: 
  

	 	•	 	 The categories of employees eligible to participate in each of the Plans. 

  

	 	•	 	 Corporate goals for each of the Plans. 

  

	 	•	 	 Any required individual or team goals for participants in each of the Plans. 

  

	 	•	 	 Award opportunities for each participant in each of the Plans. 

  

	 	•	 	 Award amounts for each participant in each of the Plans. 

  

	 	•	 	 Any exception to the guidelines regarding participant eligibility, award amounts, performance of an individual participant, level of goal achievement, or any other
aspect of the administration of each of the Plans. 

 Any costs incidental to the administration of the Plans shall be borne
by the Bank and shall not be charged to the amount available for awards in any plan year. 
  

	IV.	PARTICIPANT ELIGIBILITY 

  

	 	A.	Bankwide Short-Term Incentive Compensation Plan 

 Eligible employees shall include any employee whose employment began prior to or during the plan year, who is not a participant in any other short-term incentive compensation plan. Eligibility shall begin on the date of hire. 
  

	 	B.	Sales Short-Term Incentive Compensation Plan 

 Eligible employees shall include any employee whose employment began prior to or during the plan year who is not a participant in any other short-term incentive compensation plan, and who, in the opinion of the board of directors, serves in
a position that has the capacity to affect significantly the sales efforts of the Bank. Eligibility shall begin on the date of hire. 
 No
employee shall have the right to be selected as a participant in the Sales Short-Term Incentive Compensation Plan for a particular plan year, or once having been selected as a participant, automatically be considered a participant for any other plan
year. 
  

	 	C.	Executive Short-Term Incentive Compensation Plan 

 Eligible employees shall include any employee whose employment began prior to or during the plan year who is not a participant in any other short-term incentive compensation plan and who, in the opinion of the board of directors, serves in
a position that has the capacity to affect significantly the performance of the Bank. Eligibility shall begin on the date of hire. 
  

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 No employee shall have the right to be selected as a participant in the Executive Short-Term Incentive
Compensation Plan for a particular plan year, or once having been selected as a participant, automatically be considered a participant for any other plan year. 
  

	 	D.	No Award in the Event of Documented Unsatisfactory Performance 

 No participant shall be eligible for an award under any of the Plans in the event of a documented performance deficiency that renders his or her overall performance as unsatisfactory during the plan year. 

 

	V.	INCENTIVE AWARD PAYMENTS 

 In determining the amount
of any award to be paid under each of the Plans, the Committee and the board of directors shall consider achievement of the corporate goals and each participant’s achievement of any required individual or team goals. In addition, the Committee
and the board of directors may consider other factors deemed relevant in determining the amount of any award to any individual participant (including an overall assessment of the participant’s performance). The board of directors reserves the
right to eliminate any award even though the corporate and individual goals may have been met. 
 Unless otherwise directed by the board of
directors, payment of awards under each of the Plans shall be made as soon as practical after the close of each plan year. 
 Awards under
each of the Plans shall be calculated as a percentage of the participant’s base salary earned during the plan year, plus overtime earned during the year, less deductions for benefits paid under the Bank’s short-term disability program. The
award of any participant in one of the Plans who (during a plan year) becomes eligible to participate in another of the Plans, shall be calculated on a pro-rata basis considering both the compensation (as described above) earned under, and the
period of participation in, each of the Plans. 
 Appropriate provisions shall be made for any taxes that the Bank determines are required to
be withheld from any award under applicable laws or other regulations of any governmental authority, whether Federal, state, or local. The payment of any award shall be subject to such obligations, terms and conditions as the Committee or the board
of directors may specify in making the award. Acceptance of any award shall constitute agreement by the participant to all obligations, terms, conditions, and restrictions so imposed. 
 If a participant terminates employment with the Bank for any reason during the plan year, or after the plan year but before awards are distributed, he or
she shall not be entitled to receive an award for that plan year. 
  

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 Each payment of an award shall be made from the general assets of the Bank. 
  

	VI.	TERMINATION OR AMENDMENT 

 The board of directors
may amend, suspend, terminate or reinstate each of the Plans, in whole or in part, at any time. 
  

	VII.	MISCELLANEOUS PROVISIONS 

 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 anytime, for any reason, with or without cause. 
 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. 
 The Plans shall be governed by the laws of the State of Georgia, except when superseded by the laws of the United States.

 END OF DOCUMENT 
  

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