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