Item 5.02. DEPARTURE OF DIRECTORS OR PRINCIPAL OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF PRINCIPAL OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS

On or about February 17, 2021, Granite Falls Energy, LLC (the "Company") executed a separation agreement (the "Agreement") with its CEO and General Manager Steve Christensen, providing that Christensen's services to the Company are expected terminate on or before December 31, 2021. Christensen has been employed by the Company since 2012 and intends to retire at or before the end 2021. Pursuant to the Agreement, Christensen's services to the Company will terminate at the earlier of December 31, 2021, or the hiring of a new General Manager and the completion of a transition period. Christensen will be paid in full pursuant to the terms of his employment agreement through December 31, 2021, even if his services terminate earlier due to the hiring of his replacement. In any event, Christensen's services to the Company are expected to terminate no later than December 31, 2021. This description of the Agreement is qualified in its entirety by reference to the actual Agreement, a copy of which is attached hereto as an exhibit and incorporated herein by reference.

ITEM 9.01 - Financial Statements and Exhibits





(a)None.

(b)None.

(c)None.

(d)Exhibits.




Exhibit No. Description
10.1          Separation Agreement dated February 17, 2021

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