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FANNIE MAE
SUPPLEMENTAL RETIREMENT SAVINGS PLAN
Pursuant to
Section 9.2 of the Fannie Mae Supplemental Retirement Savings
Plan (the “Plan”), Fannie Mae, as authorized by the
Conservator of Fannie Mae (the Federal Housing Finance Agency) and
as approved by the Administrator of the Plan with respect to
Section 7.2, hereby amends the Plan as follows, effective as
of October 8, 2008:
1.
Section 2.6 is hereby amended and restated in its entirety to
read as follows:
““Compensation”
for any period shall have the meaning given to the term
“Earnings” under applicable provisions of the
Retirement Savings Plan, as in effect from time to time, but shall
be determined for all purposes of the Plan without regard to the
IRS Limit; provided, however, that “Compensation” for a
Plan Year shall include AIP bonuses, retention bonus awards paid
under the program established in October 2008 and approved by
the Conservator of Fannie Mae (“Retention Bonus
Awards”), non-management group annual bonuses, and variable
compensation (VCP) earned in, rather than received or paid in,
the Plan Year. For the avoidance of doubt,
“Compensation” for the Plan Year ending on
December 31, 2008 shall include amounts described in the
preceding sentence earned for services performed in 2008,
regardless of whether the related services were performed before or
after the Effective Date. For the further avoidance of doubt,
“Compensation” for the Plan Year ending on
December 31, 2008 shall include Retention Bonus Awards paid in
December 2008, April 2009 and November 2009 and
“Compensation” for the Plan Year ending on
December 31, 2009 shall include Retention Bonus Awards paid in
February 2010; provided that amounts paid as severance in lieu
of a Retention Bonus Awards are not Retention Bonus Awards and are
therefore not “Compensation” for purposes of the
Plan.”
2.
Section 2.18 is hereby amended and restated in its entirety to
read as follows and each remaining reference in the Plan to a
“Matching Credit” or “Matching Credits” is
hereby amended to replace such reference to a “6%
Credit” or “6% Credits”, respectively:
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