2018 Executive Bonus Plan

EX-10.57 2 ex1057executivebonusplan.htm EX 10.57 2018 EXECUTIVE BONUS PLAN Exhibit


Highwater Ethanol Incentive Program
Fiscal 2018
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Eligible
Salary
Net Income Incentive
EBITDA
Debt Service
Share Value
Yield/Project
Compliance
Total Percent Incentive
Total Incentive
 
 
 
 
 
 
 
 
 
 
 
 
Brian
Kletscher
Yes
$
203,040.00

15
%
5
%
5
%
2
%
3
%
5
%
35
%
$
71,064.00

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Eligible
Salary
Net Income Incentive
EBITDA
Debt Service
Share Value
Financial Reports
Audit/SEC Compliance
Total Percent Incentive
Total Incentive
 
 
 
 
 
 
 
 
 
 
 
 
Lucas
Schneider
Yes
$
137,483.75

15
%
5
%
5
%
2
%
2
%
3
%
32
%
$
43,994.80

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
$
115,058.80

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
CEO Executive Bonus
 
 
 
 
           CFO Executive Bonus
 
 
 
 
 
Base Salary
Percent
$
203,040.00

 
 
Base Salary
 
Percent
$
137,483.75

 
 
Bonus potential
35%
 
 
 
Bonus Potential
 
32%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
1. EBITDA
5%
 
 
 
1. EBITDA
 
5%
 
 
 
Budgeted
2%
$
4,060.80

 
 
Budgeted
 
2%
$
2,749.68

 
 
plus 10%
2%
$
4,060.80

 
 
plus 10%
 
2%
$
2,749.68

 
 
plus 15%
1%
$
2,030.40

 
 
plus 15%
 
1%
$
1,374.84

 
 
 
 
 
 
 
 
 
 
 
 
 
 
2. Debt Service
5%
 
 
 
2. Debt Service
 
5%
 
 
 
Budget plus 5%
2%
$
4,060.80

 
 
Budget plus 5%
 
2%
$
2,749.68

 
 
plus 10%
2%
$
4,060.80

 
 
plus 10%
 
2%
$
2,749.68

 
 
plus 15%
1%
$
2,030.40

 
 
plus 15%
 
1%
$
1,374.84

 
 
 
 
 
 
 
 
 
 
 
 
 
 
3. Compliance
5%
 
 
 
3. Compliance
 
3%
 
 
 
MPCA/DNR Permits Water
1%
$
2,030.40

 
 
SEC Reporting
 
2%
$
2,749.68

 
 




MPCA Air Permits
1%
$
2,030.40

 
 
Audit
 
1%
$
1,374.84

 
 
Federal Rail/State Rail/OSHA
1%
$
2,030.40

 
 
 
 
 
 
 
 
SEC Reporting
2%
$
4,060.80

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
4. Operations/Yield
2%
 
 
 
4. Financial Reports
2%
 
 
 
 
2.88
1%
$
2,030.40

 
 
 
Monthly On Time
1%
$
1,374.84

 
 
 
2.89
1%
$
2,030.40

 
 
 
Quarterly
1%
$
1,374.84

 
 
 
 
 
 
 
 
 
 
 
 
 
 
5. Increase Share Value/Distribution
1%
$
2,030.40

3%

 
5. Increase Share Value/Distribution
1%
$
1,374.84

3%

 
 
 
1%
$
2,030.40

6%

 
 
 
1%
$
1,374.84

6%

 
 
 
 
 
 
 
 
 
 
 
 
 
6. New Technology Reviewed
1%
$
2,030.40

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
6. Income
 
 
 
 
6. Income
 
 
 
 
 
Net Income Portion
Profitability
 
 
Net Income Portion
Profitability
 
 
 
Net Income {Book}
Percent 15%
 
 
Net Income {Book}
Percent 15%
 
 
 
$3.0 - $3.5 MM
1%
$
2,030.40

 
 
$3.0 - $3.5 MM
 
1%
$
1,374.84

 
 
$3.5 - $4.0 MM
1%
$
2,030.40

 
 
$3.5 - $4.0 MM
 
1%
$
1,374.84

 
 
$4.0- $4.5 MM
1%
$
2,030.40

 
 
$4.0- $4.5 MM
 
1%
$
1,374.84

 
 
$4.5 - $5.0 MM
1%
$
2,030.40

 
 
$4.5 - $5.0 MM
 
1%
$
1,374.84

 
 
$5.0 - $5.5 MM
1%
$
2,030.40

 
 
$5.0 - $5.5 MM
 
1%
$
1,374.84

 
 
$5.5 - $6.0 MM
1%
$
2,030.40

 
 
$5.5 - $6.0 MM
 
1%
$
1,374.84

 
 
$6.0 - $6.5 MM
1%
$
2,030.40

 
 
$6.0 - $6.5 MM
 
1%
$
1,374.84

 
 
$6.5 - $7.0 MM
1%
$
2,030.40

 
 
$6.5 - $7.0 MM
 
1%
$
1,374.84

 
 
$7.0 - $ 7.5 MM
1%
$
2,030.40

 
 
$7.0 - $ 7.5 MM
 
1%
$
1,374.84

 
 
$7.5 - $8.0 MM
1%
$
2,030.40

 
 
$7.5 - $8.0 MM
 
1%
$
1,374.84

 
 
$8.0 - $8.5 MM
1%
$
2,030.40

 
 
$8.0 - $8.5 MM
 
1%
$
1,374.84

 
 
$8.5 - $9.0 MM
1%
$
2,030.40

 
 
$8.5 - $9.0 MM
 
1%
$
1,374.84

 
 
$9.0 - $9.5 MM
1%
$
2,030.40

 
 
$9.0 - $9.5 MM
 
1%
$
1,374.84

 
 
$9.5 - $10.0 MM
1%
$
2,030.40

 
 
$9.5 - $10.0 MM
 
1%
$
1,374.84

 
 
$10.0 - $10.5 MM
1%
$
2,030.40

 
 
$10.0 - $10.5 MM
 
1%
$
1,374.84

 
 
 
 
 
$
71,064.00

 
 
 
 
 
$
43,994.8