UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 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): July 21, 2011
NATIONAL RURAL UTILITIES COOPERATIVE FINANCE CORPORATION
(Exact name of registrant as specified in its charter)
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District of Columbia
(state or other jurisdiction of incorporation)
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1-7102
(Commission
File Number)
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52-0891669
(I.R.S. Employer
Identification No.)
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Woodland Park
2201 Cooperative Way
Herndon, VA
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20171-3025
(Zip Code)
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(Address of principal executive offices)
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Registrant's telephone number, including area code: (703) 709-6700
(Former name or former address, if changed since last report)
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):
q Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
q Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
q Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
q Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On July 21, 2011, the Board of Directors of National Rural Utilities Cooperative Finance Corporation ("CFC") approved the amendment, effective September 1, 2011, of the Employment Agreement dated as of January 1, 2008 (the "Agreement") between CFC and the Chief Executive Officer of CFC, Sheldon C. Petersen (the "CEO"), to extend the term of employment of the CEO from February 29, 2012 to February 28, 2015, unless otherwise terminated in accordance with the terms of the Agreement. The amended Agreement provides that, in addition to other compensation provided for in the Agreement, from January 1, 2011 through the remaining term of employment, CFC shall pay the CEO a base salary at an annual rate of not less than $790,000.
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.
NATIONAL RURAL UTILITIES COOPERATIVE
FINANCE CORPORATION
By: /s/ Steven L. Lilly
Steven L. Lilly
Senior Vice President and Chief Financial Officer
Dated: July 25, 2011