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Exhibit 10.30
OFFICER SHORT-TERM INCENTIVE PROGRAM
Parameters Document
February 2009
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Objective
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The
Officer Short-Term Incentive Program is intended to align executive
compensation with the performance of the corporation. The program
provides cash awards to eligible officers based on a combination of
corporate, division, and individual performance during the
performance year. Bonus pool funding and the amount available for
distribution are based on Freddie Mac’s performance against
annual Corporate Scorecard objectives and other relevant unplanned
accomplishments. The allocation of these funds to divisions is
determined at the Chief Executive Officer’s discretion, and
will take into account the division’s performance. The
allocation of an award to individual officers will take into
account performance against their objectives and available
funds.
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Performance
Period
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The
performance period runs from January 1 —
December 31.
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General
Eligibility
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Senior Vice Presidents, Executive
Vice Presidents, and the Chief Executive Officer are not eligible
to participate in this program until such time as Freddie Mac has
additional guidance from the Federal Housing Finance Agency on the
application of recent announcements by the U.S. Department of
Treasury, as well the American Recovery and Reinvestment
Act’s restrictions on executive compensation
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A
Vice President is eligible to participate in the program
if:
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•
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As
of the last business day of the performance period, s/he is
classified by Freddie Mac (in its sole discretion) as an active,
full-time or part-time officer, or an officer on short-term
disability and/or approved leaves of absence. Individuals who are
in terminated status (for whatever reason) as of the last business
day of the performance period are not eligible to participate in
the bonus program for that year unless their participation is
authorized by the Chief Executive Officer (the “CEO”),
the President and Chief Operating Officer (the
“President”), or the Executive Vice President-Human
Resources and Corporate Services (the “EVP —
HR&CS”). 1 Individuals on terminated status
include those on severance, retirement and long-term
disability.
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•
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On
the bonus payment date (typically in February or March of the year
following the performance period), s/he is classified by Freddie
Mac (in its sole discretion) as an active, full-time or part-time
officer, or an officer on short-term disability and/or approved
leave of absence. Individuals who are in terminated status (other
than as described in the proviso below) on the bonus payment date
are not eligible to participate in the bonus program for that year.
Individuals on terminated status include those on severance,
retirement and long-term disability; provided, however ,
that an officer who retires (terminates and commences an immediate
annuity under the Employees’ Pension Plan) after
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