Attached files
| file | filename |
|---|---|
| 10-K - 10-K FYE 10-31-2017 - HIGHWATER ETHANOL LLC | a10-kfye10x31x17.htm |
| EX-32.2 - CERTIFICATION - HIGHWATER ETHANOL LLC | ex322-certification10x31x17.htm |
| EX-32.1 - CERTIFICATION - HIGHWATER ETHANOL LLC | ex321-certification10x31x17.htm |
| EX-31.2 - CERTIFICATION - HIGHWATER ETHANOL LLC | ex312-certification10x31x17.htm |
| EX-31.1 - CERTIFICATION - HIGHWATER ETHANOL LLC | ex311-certification10x31x17.htm |
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 | ||||||||||||||||||||