2015 Executive Bonus Plan for CEO and CFO
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Bonus & Incentive Agreements
Summary
This agreement outlines the 2015 Executive Bonus Plan for the company's CEO and CFO. It specifies how bonuses are calculated based on performance metrics such as EBITDA, debt service, compliance, operations, grain procurement, and net income. Each executive has a base salary and a bonus potential of 20%, with specific percentages tied to achieving certain financial and operational targets. The plan details the bonus amounts for meeting or exceeding these targets within the year.
EX-10.46 3 ex1046executivebonusplan20.htm EXECUTIVE BONUS PLAN 2015 Exhibit
2015 | 2015 | ||||||||
CEO Executive Bonus | CFO Executive Bonus | ||||||||
Base Salary | Percent | $ 160,000.00 | Base Salary | Percent | $122,500.00 | ||||
Bonus potential | 20% | Bonus Potential | 20% | ||||||
1. EBITDA | 3% | 1. EBITDA | 3% | ||||||
Budgeted | 1% | $ 1,600.00 | Budgeted | 1% | $1,225.00 | ||||
plus 10% | 1% | $ 1,600.00 | plus 10% | 1% | $1,225.00 | ||||
plus 15% | 1% | $ 1,600.00 | plus 15% | 1% | $1,225.00 | ||||
2. Debt Service | 3% | 2. Debt Service | 3% | ||||||
Budget plus 5% | 1% | $ 1,600.00 | Budget plus 5% | 1% | $1,225.00 | ||||
plus 10% | 1% | $ 1,600.00 | plus 10% | 1% | $1,225.00 | ||||
plus 15% | 1% | $ 1,600.00 | plus 15% | 1% | $1,225.00 | ||||
3. Compliance | 1% | $1,600.00 | 3. Compliance | 1% | |||||
SEC Audit Reporting | 1% | $1,225.00 | |||||||
4. Operations/Yield | 1% | 4. Financial Reports | 1% | ||||||
2.88 | 0.5% | $ 800.00 | Monthly On Time | 0.5% | $612.50 | ||||
2.89 | 0.5% | $ 800.00 | Quarterly | 0.5% | $612.50 | ||||
5. Grain Procurement Signed 10/31 | 2% | $ 3,200.00 | 5. Grain Procurement Signed by 10/31 | 2% | $2,450.00 | ||||
6. Income | 6. Income | ||||||||
Net Income Portion | Profitability | Net Income Portion | Profitability | ||||||
Net Income {Book} | Percent 10% | Net Income {Book} | Percent 10% | ||||||
$3.0 - $3.5 MM | 1% | $ 1,600.00 | $3.0 - $3.5 MM | 1% | $1,225.00 | ||||
$3.5 - $4.0 MM | 1% | $ 1,600.00 | $3.5 - $4.0 MM | 1% | $1,225.00 | ||||
$4.0- $4.5 MM | 1% | $ 1,600.00 | $4.0- $4.5 MM | 1% | $1,225.00 | ||||
$4.5 - $5.0 MM | 1% | $ 1,600.00 | $4.5 - $5.0 MM | 1% | $1,225.00 | ||||
$5.0 - $5.5 MM | 1% | $ 1,600.00 | $5.0 - $5.5 MM | 1% | $1,225.00 | ||||
$5.5 - $6.0 MM | 1% | $ 1,600.00 | $5.5 - $6.0 MM | 1% | $1,225.00 | ||||
$6.0 - $6.5 MM | 1% | $ 1,600.00 | $6.0 - $6.5 MM | 1% | $1,225.00 | ||||
$6.5 - $7.0 MM | 1% | $ 1,600.00 | $6.5 - $7.0 MM | 1% | $1,225.00 | ||||
$7.0 - $ 7.5 MM | 1% | $ 1,600.00 | $7.0 - $ 7.5 MM | 1% | $1,225.00 | ||||
$7.5 - $8.0 MM | 1% | $ 1,600.00 | $7.5 - $8.0 MM | 1% | $1,225.00 | ||||
$ 32,000.00 | $24,500.00 | ||||||||
