Monsanto had a good year in fiscal 2012, and its board rewarded Chief Executive Hugh Grant with a $5 million bonus. That amounted to 265 percent of his target level. Monsanto’s incentive-pay plan calls for a maximum bonus of 200 percent, but the board has discretion to go higher. Other top executives also got bonuses that were above the plan’s maximum. Grant’s bonus brought his total compensation to $14.4 million, a 23 percent increase from fiscal 2011, Monsanto discloses in a proxy statement filed last week.