Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangement of Certain Officers.
On January 1, 2020, South Dakota Soybean Processors, LLC (the "Company") entered
into a new employment agreement with its Chief Executive Officer, Thomas J.
Kersting.
Mr. Kersting's agreement provides for an annual base salary of $385,000 for each
of the three years ended December 31, 2020, 2021 and 2022. For each calendar
year thereafter, the Company's board of managers, at its sole discretion, will
review and set Mr. Kersting's annual base salary during the remaining term of
his agreement, provided it be no less than $365,000 unless agreed to by Mr.
Kersting. After 2022, the agreement provides for successive 36-month terms until
Mr. Kersting reaches the age of 62, at which time it will convert to a fixed
three-year term ending on his 65th birthday. If Mr. Kersting is terminated
without cause, he is entitled to receive: (i) his base salary for the greater
of: (A) the remaining term of the agreement (up to a maximum of 36 months) or
(B) 52 weeks from the date of termination; (ii) any other amounts earned,
accrued or owed to Mr. Kersting under the agreement but not yet paid; and (iii)
any other benefits payable to Mr. Kersting under any benefit plan or program of
the Company. Mr. Kersting is also subject to a non-competition provision under
which he is prohibited from competing with the Company during the term of the
agreement and for a period of two years following his termination for any
reason.
In addition to his base salary, the agreement grants to Mr. Kersting the right
to receive an annual profit sharing bonus equal to 0.7% of the Company's annual
net income in excess of $2 million. He is also entitled to paid vacations and
holidays, receipt and participation in insurance benefits and retirement plans
provided to other Company employees, and reimbursement of reasonable travel and
other related employment expenses.
Item 9.01  Financial Statements and Exhibits.
(d)  Exhibits. The following exhibits are filed with this report:

10.1 Employment Agreement (Mr. Kersting) signed January 1, 2020.

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