Attached files
| file | filename |
|---|---|
| EX-99.1 - Federal Home Loan Bank of Indianapolis | v199976_ex99-1.htm |
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
DC 20549
__________________________________
FORM
8-K
_________________________________
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of
report (Date of earliest event reported): October 26,
2010
_________________________________
FEDERAL
HOME LOAN BANK OF INDIANAPOLIS
(EXACT
NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
________________________________
|
Federally
Chartered Corporation
(State
or other jurisdiction of incorporation)
|
000-51404
(Commission
File Number)
|
35-6001443
(IRS
Employer Identification No.)
|
8250
Woodfield Crossing Blvd.
Indianapolis
IN 46240
(Address
of Principal Executive Offices, including Zip Code)
(317)
465-0200
(Registrant’s
Telephone Number, Including Area Code)
________________________________
Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions (see General Instruction A.2 below):
Item
5.02(e). Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers
On
September 9, 2010, the board of directors of the Federal Home Loan Bank of
Indianapolis (the “Bank”) approved the offering of Key Employee Severance
Agreements to Kenneth Lowell Short, Jr., Senior Vice President – Chief
Accounting Officer, Gregory L. Teare, Senior Vice President – Chief Banking
Officer, and Sunil U. Mohandas, First Vice President – Chief Risk Officer (each,
a “Bank Officer”). On October 5, 2010, the Federal Housing Finance
Agency indicated to the Bank that it has no objection to the severance payment
provisions of the proposed agreements. On October 26, 2010, a Key
Employee Severance Agreement (the “Agreement”) was delivered to each Bank
Officer for
execution. A copy of the Agreement utilized for each Bank
Officer is included as Exhibit 99.1 to this Current Report.
The
Agreement provides for a severance payment and continued benefits if the Bank
Officer’s employment terminates under certain circumstances in connection with a
“reorganization” (as defined in the Agreement) of the Bank. In
particular, under the terms of the Agreement, if the Bank Officer terminates for
“good reason” during a period beginning 12 months before and ending 24 months
after a reorganization, or if he is terminated without “cause” during a period
beginning 12 months before and ending 24 months after a reorganization, the Bank
Officer is entitled to a lump sum payment equal to 1.0 times the average of his
three preceding years’ base salary, bonus, and other cash compensation paid,
provided that, for any calendar year in which the Bank Officer received base
salary for less than the entire calendar year, the gross amount shall be
annualized as if such amount had been payable for the entire calendar
year.
The
Agreement also provides the Bank Officer with coverage under the Bank’s medical
and dental insurance plans in effect at the time of termination for 12 months
(subject to the Bank Officer paying the employee portion of the cost of such
coverage).
If the
Bank is not in compliance with any applicable regulatory capital or regulatory
leverage requirement at the time payment under the Agreement is due, or if the
payment would cause the Bank to fall below applicable regulatory requirements,
the payment will be deferred until such time as the Bank achieves compliance
with its regulatory requirements.
In
general, the Agreement will remain in effect during the Bank Officer’s
employment for a three-year period following execution of the Agreement by both
parties.
Item
9.01. Financial Statements and Exhibits
A copy of
the Key Employee Severance Agreement utilized for each Bank Officer is attached
hereto as Exhibit 99.1 and incorporated by reference herein.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the Registrant has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
Date: October
27, 2010
FEDERAL
HOME LOAN BANK OF INDIANAPOLIS
By: /s/MILTON J. MILLER
II
Milton J. Miller II
President and Chief Executive
Officer
By: /s/CINDY L.
KONICH
Cindy L. Konich.
Executive
Vice President – Chief Operating Officer - Chief Financial Officer