FEDERAL HOME LOAN MORTGAGE CORP: Change of Directors or Principal Officers, Financial Statements and Exhibits (Form 8-K)
Item 5.02. Departure of directors or certain managers; Election of directors; Appointment of certain leaders; Compensatory provisions of certain executives.
OnMay 25, 2022 ,Freddie Mac (formally theFederal Home Loan Mortgage Corporation ) entered into a Separation Agreement and General Release (Agreement and Release) withDonna Corley in connection with her stepping down from her position as head ofFreddie Mac's Single-Family division, which was previously disclosed on and effectiveMay 26, 2022 . The Agreement and Release provides that during the transition period,Ms. Corley's employment will continue at the same compensation (including deferred salary and employee benefits, subject to the terms of the applicable plans and agreements). In addition, the parties have agreed to a mutual non-disparagement covenant. The Agreement and Release further provides that on or within seven days afterNovember 25, 2022 , (the Separation Date), or any date on whichMs. Corley resigns earlier than the Separation Date,Ms. Corley will execute a Second Separation Agreement and General Release. This Second Agreement and Release incorporates the terms of the first Agreement and Release, and provides no additional payments or consideration. Together, both Agreement and Release documents apply the terms and conditions thereof to the entire period of employment, and integrate the terms and conditions ofFreddie Mac's Restrictive Covenant and Confidentiality Agreement. The Form of Restrictive Covenant and Confidentiality Agreement betweenFreddie Mac and Executive Officers is filed as Exhibit 10.19 in our 2021 Annual Report on Form 10-K (incorporated by reference to Exhibit 10.3 to the Registrant's Quarterly Report on Form 10-Q filed onJuly 29, 2021 ). The description of the Agreement and Release in this report is qualified in its entirety by reference to the full text of the Agreement and Release, which is filed as Exhibit 10.1 to this report and is incorporated herein by reference.
Section 9.01. Financial statements and supporting documents.
(d) Exhibits.
The exhibits listed in the Exhibit Index below are being submitted with this report. Exhibit Number Description of Exhibit 10.1 Confidential Separation Agreement and General Release 104 Cover Page Interactive Data File (embedded
in the Inline XBRL document)
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Form Freddie Mac 8-K
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