50 of the Top 250 law firms use our Products every day
EXHIBIT 10
Fiscal Year 2010 Annual Incentive Plan Summary
(September 1, 2009 through August
31, 2010 Performance Period)
|
|
The Fiscal Year
2010 Annual Incentive Plan (“Plan”) provides eligible
employees the opportunity to earn cash awards for Company and
individual performance during the Performance Period
|
|
|
The
Plan’s Performance Period is the Company’s 2010 Fiscal
Year: September 1, 2009 through August 31,
2010
|
|
|
All regular
employees of Monsanto Company (including each of its business units
and divisions) who do not participate in a sales, manufacturing, or
a business-specific annual incentive plan are eligible to
participate; provided, however, that all employees employed in the
U.S. who are members of a collective bargaining unit with whom
incentive compensation was the subject of good faith bargaining
shall not be eligible to participate in the plan
|
|
|
The People and
Compensation Committee of the Board of Directors (the
“Committee”) establishes Company Financial Goals for
the Performance Period with respect to the following
metrics: Sales, Diluted Earnings Per Share and Cash
Flow. Each employee participating in the Plan (a
“Participant”) also has individual performance goals
relating to business and/or people initiatives
|
|
|
A “Target
Annual Incentive Opportunity”, expressed as a percentage of
base pay, is established for each Participant with respect to the
Performance Period
|
|
|
The
“Target Award Pool” is the sum of base salaries of all
Participants at the end of the Performance Period multiplied by
their respective Target Annual Incentive Opportunities
|
|
|
After the end
of the Performance Period, the Committee determines the actual
amount of money available for awards (the “Award
Pool”) based on its assessment of overall Company
performance during the Performance Period measured against the
pre-established Financial Goals and other subjective performance
factors
|
|
|
Regardless of
the attainment of any one or more of the Plan’s Financial
Goals, the Committee, in its sole discretion, determines whether
the Award Pool should be funded and the amount of the funding, if
any
|
|
|
The Award Pool
is allocated to Participants based on:
|
|
|
The
Participant’s Target Annual Incentive Opportunity for the
Performance Period
|
|
|
The performance
of the Participant’s business or function measured against
business or function goals, and
|
|
|
The
Participant’s individual performance during the Performance
Period, measured against individual goals
|
|
|
Any amount
earned by a Participant under the terms of the Plan (an
“Award”) will be paid in November 2010
|
Establishment of Financial
Goals :
|
|
The Committee
determines Threshold, Target and Outstanding levels of Company
performance (“Performance Level”) for the Performance
Period with respect to:
|
|
|
10%
weighting
|
Ø
Diluted Earnings Per
Share
|
50%
weighting
|
|
|
40%
weighting
|
|
|
Sales, Diluted
Earnings Per Share and Cash Flow are determined in accordance with
the “Definition of Performance Metrics” established by
the Committee
|
Process
for Funding Award Pool and Payout of Awards:
|
|
A Target Award
Pool is calculated, equal to the sum of base salaries of all Plan
Participants on the last day of the Performance Period,
multiplied by their respective Target Annual Incentive
Opportunity
|
|
|
After the end
of the Performance Period, the Commi
|
|
