-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, GHmOtb2VGRxuGx1YsM36zcW3p9ejmWsVx+fmL+ufEtdzR3F+Mqg3jMcKYujcODbW ziXPyJcBlf3GtZlOIq+s3w== 0001104659-08-027896.txt : 20080429 0001104659-08-027896.hdr.sgml : 20080429 20080429160706 ACCESSION NUMBER: 0001104659-08-027896 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20080425 ITEM INFORMATION: Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers FILED AS OF DATE: 20080429 DATE AS OF CHANGE: 20080429 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SOUTH DAKOTA SOYBEAN PROCESSORS LLC CENTRAL INDEX KEY: 0001163609 STANDARD INDUSTRIAL CLASSIFICATION: AGRICULTURE SERVICES [0700] IRS NUMBER: 000000000 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-50253 FILM NUMBER: 08785484 BUSINESS ADDRESS: STREET 1: 100 CASPIAN AVE. STREET 2: P.O. BOX 500 CITY: VOLGA STATE: SD ZIP: 57071 BUSINESS PHONE: 6056279240 MAIL ADDRESS: STREET 1: 100 CASPIAN AVE. STREET 2: P.O. BOX 500 CITY: VOLGA STATE: SD ZIP: 57071 FORMER COMPANY: FORMER CONFORMED NAME: SOYBEAN PROCESSORS LLC DATE OF NAME CHANGE: 20011213 8-K 1 a08-12947_18k.htm 8-K

 

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

 

PURSUANT TO SECTION 13 OR 15(d) OF

THE SECURITIES EXCHANGE ACT OF 1934

 

Date of Report (date of earliest event reported): April 25, 2008

 

South Dakota Soybean Processors, LLC

(Exact name of Registrant as specified in its charter)

 

South Dakota

 

000-50253

 

46-042968

(State or other jurisdiction of
incorporation)

 

(Commission File Number)

 

(I.R.S. Employer Identification
No.)

 

 

 

 

 

100 Caspian Ave. PO Box 500

 

 

Volga, South Dakota

 

57071

(Address of principal executive

 

(Zip Code)

offices)

 

 

 

Registrant’s telephone number, including area code: (605) 647-9240

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

o

 

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

 

 

o

 

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

 

 

o

 

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

 

 

o

 

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 


 

Section 5 – Corporate Governance and Management

 

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

 

(e) On April 25, 2008, the registrant (“we,” “us,” “or “our”) entered into a new employment agreement with its Chief Executive Officer, Rodney Christianson. Retroactively effective to February 1, 2008, his base salary in 2008 will be $300,000, increasing to $325,000 in 2009, and $350,000 in 2010 and 2011. The agreement will terminate on January 31, 2012. He also will be entitled to a bonus of 1/2 of 1% of our net income if net income is between $2 million and $5 million, 1% of our net income if net income is between $5 million and $7.5 million, and 1% of our net income if net income is in excess of $7.5 million plus an additional 1% of the amount of the excess of net income over $7.5 million. He will be entitled to paid holidays, receipt and participation in insurance benefits and retirement plans that are provided to our other employees, reimbursement of reasonable travel, entertainment and other expenses, the use of a vehicle for company business, and a severance payment in the event that he is terminated for any reason other than which is enumerated in his employment agreement. We plan to file this agreement as an exhibit in our next periodic report.

 

SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

SOUTH DAKOTA SOYBEAN PROCESSORS,
LLC

 

 

 

 

 

Dated: April 29, 2008

By:

/s/ Rodney Christianson

 

 

Rodney Christianson, Chief Executive

 

 

Officer

 

2

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