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EXHIBIT 10.39
TITAN MACHINERY INC.
COMPENSATION ARRANGEMENTS FOR EXECUTIVE OFFICERS
FOR FISCAL YEAR 2015
The Titan Machinery Inc. Board of Directors approved the 2015 fiscal year base salaries for the executive officers as set forth below.
| Executive Officer and Title | 2015 Annual Base Salary | |||
| David J. Meyer | ||||
| Board Chair and Chief Executive Officer | $ | 500,000 | ||
| Peter J. Christianson | ||||
| President and Director | $ | 500,000 | ||
| Mark P. Kalvoda | ||||
| Chief Financial Officer | $ | 300,000 | ||