Attached files
| file | filename |
|---|---|
| EX-32.1 - CERTIFICATION - HIGHWATER ETHANOL LLC | a321-certification10x31x16.htm |
| EX-32.2 - CERTIFICATION - HIGHWATER ETHANOL LLC | a322-certification10x31x16.htm |
| EX-31.2 - CERTIFICATION - HIGHWATER ETHANOL LLC | a312-certification10x31x16.htm |
| EX-31.1 - CERTIFICATION - HIGHWATER ETHANOL LLC | a311-certification10x31x16.htm |
| 10-K - 10-K FYE 10-31-2016 - HIGHWATER ETHANOL LLC | a10-kfye10x31x16.htm |
Highwater Ethanol Incentive Program | ||||||||||||||||||||||
Fiscal 2017 | ||||||||||||||||||||||
Eligible | Salary | Net Income Incentive | EBITDA | Debt Service | Share Value | Yield/Project | Compliance | Total Percent Incentive | Total Incentive | |||||||||||||
Brian | Kletscher | Yes | $ | 173,040.00 | 15 | % | 5 | % | 5 | % | 2 | % | 3 | % | 5 | % | 35 | % | $ | 60,564.00 | ||
Eligible | Salary | Net Income Incentive | EBITDA | Debt Service | Share Value | Financial Reports | Audit/SEC Compliance | Total Percent Incentive | Total Incentive | |||||||||||||
Lucas | Schneider | Yes | $ 132,483.75 | 15.00% | 5.00% | 5.00% | 2.00% | 2.00% | 3.00% | 32.00% | $ 42,394.80 | |||||||||||
$ 102,958.80 | ||||||||||||||||||||||
CEO Executive Bonus | CFO Executive Bonus | |||||||||||||||||||||
Base Salary | Percent | $ 173,040.00 | Base Salary | Percent | $ 132,483.75 | |||||||||||||||||
Bonus potential | 35% | Bonus Potential | 32% | |||||||||||||||||||
1. EBITDA | 5% | 1. EBITDA | 5% | |||||||||||||||||||
Budgeted | 2% | $ 3,460.80 | Budgeted | 2% | $2,649.68 | |||||||||||||||||
plus 10% | 2% | $ 3,460.80 | plus 10% | 2% | $2,649.68 | |||||||||||||||||
plus 15% | 1% | $ 1,730.40 | plus 15% | 1% | $1,324.84 | |||||||||||||||||
2. Debt Service | 5% | 2. Debt Service | 5% | |||||||||||||||||||
Budget plus 5% | 2% | $ 3,460.80 | Budget plus 5% | 2% | $2,649.68 | |||||||||||||||||
plus 10% | 2% | $ 3,460.80 | plus 10% | 2% | $2,649.68 | |||||||||||||||||
plus 15% | 1% | $ 1,730.40 | plus 15% | 1% | $1,324.84 | |||||||||||||||||
3. Compliance | 5% | 3. Compliance | 3% | |||||||||||||||||||
MPCA/DNR Permits Water | 1% | $ 1,730.40 | SEC Reporting | 2% | $2,649.68 | |||||||||||||||||
MPCA Air Permits | 1% | $ 1,730.40 | Audit | 1% | $1,324.84 | |||||||||||||||||
Federal Rail/State Rail/OSHA | 1% | $ 1,730.40 | ||||||||||||||||||||
SEC Reporting | 2% | $ 3,460.80 | ||||||||||||||||||||
4. Operations/Yield | 2% | 4. Financial Reports | 2% | |||||||||||||||||||
2.88 | 1% | $ 1,730.40 | Monthly On Time | 1% | $1,324.84 | |||||||||||||||||
2.89 | 1% | $ 1,730.40 | Quarterly | 1% | $1,324.84 | |||||||||||||||||
5. Increase Share Value/Distribution | 1% | $ 1,730.40 | 3% | 5. Increase Share Value/Distribution | 1% | $1,324.84 | 3% | |||||||||||||||
1% | $ 1,730.40 | 6% | 1% | $1,324.84 | 6% | |||||||||||||||||
6. New Technology Reviewed | 1% | $ 1,730.40 | ||||||||||||||||||||
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% | $ 1,730.40 | $3.0 - $3.5 MM | 1% | $1,324.84 | |||||||||||||||||
$3.5 - $4.0 MM | 1% | $ 1,730.40 | $3.5 - $4.0 MM | 1% | $1,324.84 | |||||||||||||||||
$4.0- $4.5 MM | 1% | $ 1,730.40 | $4.0- $4.5 MM | 1% | $1,324.84 | |||||||||||||||||
$4.5 - $5.0 MM | 1% | $ 1,730.40 | $4.5 - $5.0 MM | 1% | $1,324.84 | |||||||||||||||||
$5.0 - $5.5 MM | 1% | $ 1,730.40 | $5.0 - $5.5 MM | 1% | $1,324.84 | |||||||||||||||||
$5.5 - $6.0 MM | 1% | $ 1,730.40 | $5.5 - $6.0 MM | 1% | $1,324.84 | |||||||||||||||||
$6.0 - $6.5 MM | 1% | $ 1,730.40 | $6.0 - $6.5 MM | 1% | $1,324.84 | |||||||||||||||||
$6.5 - $7.0 MM | 1% | $ 1,730.40 | $6.5 - $7.0 MM | 1% | $1,324.84 | |||||||||||||||||
$7.0 - $ 7.5 MM | 1% | $ 1,730.40 | $7.0 - $ 7.5 MM | 1% | $1,324.84 | |||||||||||||||||
$7.5 - $8.0 MM | 1% | $ 1,730.40 | $7.5 - $8.0 MM | 1% | $1,324.84 | |||||||||||||||||
$8.0 - $8.5 MM | 1% | $ 1,730.40 | $8.0 - $8.5 MM | 1% | $1,324.84 | |||||||||||||||||
$8.5 - $9.0 MM | 1% | $ 1,730.40 | $8.5 - $9.0 MM | 1% | $1,324.84 | |||||||||||||||||
$9.0 - $9.5 MM | 1% | $ 1,730.40 | $9.0 - $9.5 MM | 1% | $1,324.84 | |||||||||||||||||
$9.5 - $10.0 MM | 1% | $ 1,730.40 | $9.5 - $10.0 MM | 1% | $1,324.84 | |||||||||||||||||
$10.0 - $10.5 MM | 1% | $ 1,730.40 | $10.0 - $10.5 MM | 1% | $1,324.84 | |||||||||||||||||
$ 60,564.00 | $42,394.80 | |||||||||||||||||||||