SEC Contract Filing

Filing Date: 2025-05-06

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<FILENAME>fhlbpitex102-2025directo.htm
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<DIV><FONT size="1" style="font-size:1pt;color:white"> 2025 DIRECTORS&#8217; COMPENSATION POLICY Effective Date: January 1, 2025 Page 1 of 5 Version: 2025_1 OBJECTIVE Section 1261.22 of the Rules and Regulations of the Federal Housing Finance Agency require the Board of Directors to adopt a written policy to provide for the payment of reasonable compensation to Bank Directors for the performance of their duties as members of the Board of Directors. Pursuant to that regulation, this Directors' Compensation Policy (&quot;Policy&quot;) sets forth the activities and functions for which attendance is necessary and appropriate and may be compensated and sets forth the methodology for determining the amount of compensation to be paid. This Policy shall be reviewed annually by the Governance and Public Policy Committee. POLICY Total Compensation The compensation paid to Directors shall be in conformity with the guidelines set forth in this Policy. The Policy guidelines on Director Compensation for 2025 are $165,000 for the Chair, $,142,000 for the Vice Chair of the Board; $137,000 for the Audit Chair, $132,000 for the Enterprise Risk and Human Resources Committee Chairs; $130,210 for each other Committee Chair, and $123,000 for each of the other Directors. Compensation can exceed the guidelines set forth above based on a Director assuming additional responsibilities, such as chairing a Committee or Board meeting. The total compensation shall be paid in two parts: one-half via retainer fees and the other half in meeting attendance fees.1 Quarterly Retainer2 In order to compensate Directors for their time while serving as Directors outside of regular Standing Committee and Board meetings, Directors shall be paid a quarterly retainer. The retainer shall compensate Directors for their time preparing for meetings, attending Affordable Housing Advisory Council meetings, attending Bank System meetings, Board training sessions, and other activities outside of normal Committee and Board meetings. The amount of the quarterly retainer varies depending on the responsibilities of the Director as set forth below: Chair $20,625 Vice Chair $17,750 Audit ERMC, HR Chairs $17,125 $16,500 Other Committee Chairs $16,276 Director $15,375 1 Board and Standing Committee meeting attendance fees are adjusted in the final meeting fee payments for the year, as applicable, such that the aggregate of the meeting and retainer fees do not exceed the applicable maximum guideline amounts in this Policy. 2 Quarterly retainer fees are rounded to the nearest dollar. </FONT></DIV>
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<DIV><FONT size="1" style="font-size:1pt;color:white"> 2025 DIRECTORS&#8217; COMPENSATION POLICY Effective Date: January 1, 2025 Page 2 of 5 Version: 2025_1 Board Meeting Fees3 In order to compensate Directors for their time while serving as Directors, each Director that attends a meeting of the Board of Directors (including Committee meetings and participating by telephone) shall be paid a Board Meeting Attendance Fee. The amount of the Board Meeting Attendance Fee varies depending on the role served at the meeting. The following Board Meeting Attendance Fees shall be paid to Directors in attendance at Board of Director's meetings (including telephonic Board meetings): Chairman $6,875 Vice Chairman $5,917 Audit, ERMC, HR Chairs $5,708 $5,500 Other Committee Chairs $5,425 Director $5,125 In the absence of the Chairman, the Acting Chairman, whether it be the Vice Chairman or Chairman Pro Tem, shall receive the Chairman Board Meeting Attendance Fee. Board Meeting Attendance Fees are paid per meeting day.4 Standing Committee Meeting Fees5 In order to compensate Directors for their time while serving as Directors, each Director that attends a Standing Committee meeting (including participating by telephone) shall be paid a Standing Committee Meeting Attendance Fee. The amount of the Standing Committee Meeting Attendance Fee varies among Directors in attendance at the meeting. The following Standing Committee Meeting Attendance Fees shall be paid to Directors in attendance at Standing Committee Director's meetings: Chairman $,6,875 Vice Chairman Audit $,5,917 $5,708 ERMC, HR Chairs $5,500 Other Committee Chairs $5,425 Director $5,125 Standing Committee Meeting Attendance Fees are paid per meeting day, not per Committee meeting. No Committee Attendance Fee will be paid if a Board Meeting Attendance Fee is paid 3 Board meeting attendance fees are rounded to the nearest dollar. 4 For the purpose of calculating the Board Meeting Attendance fees, fees are paid according to attendance at a regular Board Meeting (only six meetings per calendar year, two days per meeting, 12 Board Meeting days maximum). Fees are not earned for interim or additional Board Meetings that may occur from time to time. 5 The Standing Committees are Audit, Finance, Governance and Public Policy, Human Resources, Membership, Credit &amp; Community Investment, and Operational Risk. The Enterprise Risk Management Committee and the Diversity, Equity &amp; Inclusion Committee are committees of the full Board of Directors and are not considered Standing Committees for the purposes of this Director Compensation Policy. </FONT></DIV>
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