EMPLOYMENT AND SEVERANCE AGREEMENT
This Employment and Severance Agreement (the "Agreement") entered into this 1st day of September 1999 by
and between AGCO CORPORATION, a Delaware corporation (the "Company"), and Chris E. Perkins (the
In consideration of the mutual covenants and agreements hereinafter set forth, the Company and the Executive do
hereby agree as follows:
(a) The Company hereby employs the Executive and the Executive hereby agrees to serve the Company on the
terms and conditions set forth herein.
(b) The employment term shall commence on September 1, 1999 and shall continue in effect until terminated in
accordance with Section 5 or any other provision of the Agreement.
2. POSITION AND DUTIES.
The Executive shall serve as an Executive Officer of the Company and shall perform such duties and
responsibilities as may from time to time be prescribed by the Company's board of directors (the "Board"),
provided that such duties and responsibilities are consistent with the Executive's position. The Executive shall
perform and discharge faithfully, diligently and to the best of his/her ability such duties and responsibilities and
shall devote all of his/her working time and efforts to the business and affairs of the Company and its affiliates.
(a) BASE SALARY. The Company shall pay to the Executive an annual base salary ("Base Salary") of Two
Hundred Twenty-Four Thousand Dollars ($224,000), payable in equal semi-monthly installments throughout the
term of such employment subject to Section 5 hereof and subject to applicable tax and payroll deductions. The
Company shall consider increases in the Executive's Base Salary annually, and any such increase in salary
implemented by the Company shall become the Executive's Base Salary for purposes of this Agreement.
(b) INCENTIVE COMPENSATION. Provided Executive has duly performed his/her obligations pursuant to
this Agreement, the Executive shall be entitled