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Annual Cash Compensation of Named
Executive Officers
The executive
officers named in the compensation table in Monsanto’s proxy
statement dated Dec. 1, 2008 (the “Named Executive
Officers”) have their base salaries determined yearly by the
People and Compensation Committee (the “Committee”) of
the Board of Directors. It is anticipated that such determinations
will occur annually, effective during a pay period in the following
January. The Named Executive Officers are all “at will”
employees, and do not have written or oral employment agreements
other than change of control agreements, the form of which is
filed, as required, as an exhibit to reports filed by the Company
under the Exchange Act. The Company, upon the approval of the
Committee, retains the right to unilaterally decrease or increase
the Named Executive Officers’ base salaries at any
time.
The Named
Executive Officers are eligible to participate in the
Company’s annual incentive compensation plans for all regular
employees, including executive officers, which provide for cash
awards. Summaries of such annual incentive compensation plans are
filed as exhibits, as required, to reports filed by the
Co
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