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Pacific Ethanol, Inc. – ‘10-Q’ for 3/31/19 – ‘EX-10.8’

On:  Friday, 5/3/19, at 4:16pm ET   ·   For:  3/31/19   ·   Accession #:  1615774-19-7047   ·   File #:  0-21467

Previous ‘10-Q’:  ‘10-Q’ on 11/2/18 for 9/30/18   ·   Next:  ‘10-Q’ on 8/7/19 for 6/30/19   ·   Latest:  ‘10-Q’ on 11/8/23 for 9/30/23   ·   4 References:   

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  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 5/03/19  Pacific Ethanol, Inc.             10-Q        3/31/19   69:4.5M                                   S2 Filings LLC/FA

Quarterly Report   —   Form 10-Q   —   Sect. 13 / 15(d) – SEA’34
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-Q        Quarterly Report                                    HTML    390K 
 2: EX-10.1     Material Contract                                   HTML    158K 
 3: EX-10.2     Material Contract                                   HTML     41K 
 4: EX-10.3     Material Contract                                   HTML     42K 
 5: EX-10.4     Material Contract                                   HTML     72K 
 6: EX-10.5     Material Contract                                   HTML     56K 
 7: EX-10.6     Material Contract                                   HTML     69K 
 8: EX-10.7     Material Contract                                   HTML     48K 
 9: EX-10.8     Material Contract                                   HTML     23K 
10: EX-31.1     Certification -- §302 - SOA'02                      HTML     23K 
11: EX-31.2     Certification -- §302 - SOA'02                      HTML     23K 
12: EX-32.1     Certification -- §906 - SOA'02                      HTML     21K 
19: R1          Document and Entity Information                     HTML     47K 
20: R2          Consolidated Balance Sheets (Unaudited)             HTML    139K 
21: R3          Consolidated Balance Sheets (Unaudited)             HTML     48K 
                (Parenthetical)                                                  
22: R4          Consolidated Statements of Operations (Unaudited)   HTML     68K 
23: R5          Consolidated Statements of Cash Flows (Unaudited)   HTML    106K 
24: R6          Consolidated Statements of Stockholders' Equity     HTML     47K 
                (Unaudited)                                                      
25: R7          Organization and Basis of Presentation.             HTML     42K 
26: R8          Segments.                                           HTML     63K 
27: R9          Inventories.                                        HTML     28K 
28: R10         Derivatives.                                        HTML     49K 
29: R11         Leases.                                             HTML     32K 
30: R12         Debt.                                               HTML     42K 
31: R13         Commitments and Contingencies.                      HTML     25K 
32: R14         Pension Plans.                                      HTML     27K 
33: R15         Fair Value Measurements.                            HTML     73K 
34: R16         Earnings Per Share.                                 HTML     37K 
35: R17         Parent Company Financials.                          HTML     62K 
36: R18         Organization and Basis of Presentation. (Policies)  HTML     59K 
37: R19         Segments. (Tables)                                  HTML     67K 
38: R20         Inventories. (Tables)                               HTML     30K 
39: R21         Derivatives. (Tables)                               HTML     48K 
40: R22         Leases. (Tables)                                    HTML     26K 
41: R23         Debt. (Tables)                                      HTML     37K 
42: R24         Fair Value Measurements. (Tables)                   HTML     69K 
43: R25         Earnings Per Share. (Tables)                        HTML     36K 
44: R26         Parent Company Financials. (Tables)                 HTML     82K 
45: R27         Organization and Basis of Presentation. (Details    HTML     47K 
                Narrative)                                                       
46: R28         Segments. (Details)                                 HTML     54K 
47: R29         Segments. (Details 1)                               HTML     26K 
48: R30         Segments. (Details Narrative)                       HTML     20K 
49: R31         Inventories. (Details)                              HTML     35K 
50: R32         Inventories. (Details Narrative)                    HTML     20K 
51: R33         Derivatives. (Details)                              HTML     26K 
52: R34         Derivatives. (Details 1)                            HTML     27K 
53: R35         Derivatives. (Details Narrative)                    HTML     21K 
54: R36         Leases. (Details)                                   HTML     39K 
55: R37         Leases. (Details Narrative)                         HTML     33K 
56: R38         Debt. (Details)                                     HTML     58K 
57: R39         Debt (Details Narrative)                            HTML     63K 
58: R40         Commitments and Contingencies. (Details Narrative)  HTML     37K 
59: R41         Pension Plans. (Details Narrative)                  HTML     45K 
60: R42         Fair Value Measurements. (Details)                  HTML     82K 
61: R43         Earnings Per Share. (Details)                       HTML     38K 
62: R44         Earnings Per Share. (Details Narrative)             HTML     21K 
63: R45         Parent Company Financials. (Details)                HTML    119K 
64: R46         Parent Company Financials. (Details 1)              HTML     52K 
65: R47         Parent Company Financials. (Details 2)              HTML     83K 
66: R48         Parent Company Financials. (Details Narrative)      HTML     22K 
68: XML         IDEA XML File -- Filing Summary                      XML    108K 
67: EXCEL       IDEA Workbook of Financial Reports                  XLSX     55K 
13: EX-101.INS  XBRL Instance -- peix-20190331                       XML   1.26M 
15: EX-101.CAL  XBRL Calculations -- peix-20190331_cal               XML    176K 
16: EX-101.DEF  XBRL Definitions -- peix-20190331_def                XML    454K 
17: EX-101.LAB  XBRL Labels -- peix-20190331_lab                     XML    715K 
18: EX-101.PRE  XBRL Presentations -- peix-20190331_pre              XML    594K 
14: EX-101.SCH  XBRL Schema -- peix-20190331                         XSD    114K 
69: ZIP         XBRL Zipped Folder -- 0001615774-19-007047-xbrl      Zip    103K 


‘EX-10.8’   —   Material Contract


This Exhibit is an HTML Document rendered as filed.  [ Alternative Formats ]



 

Exhibit 10.8

 

Pacific Ethanol, Inc. 2019 Short-Term Incentive Plan (“Plan”) Description

 

Effective Date: The Plan was adopted by the compensation committee (the “Compensation Committee”) of the board of directors of Pacific Ethanol, Inc. (the “Company”) on April 5, 2019.

 

Participants: The Company’s Chief Executive Officer, Chief Financial Officer, Chief Operating Officer, General Counsel, Vice President of Commodities and Corporate Development and Vice President of Supply and Trading (“Executive Officers”), and other officer, director and manager-level personnel will be eligible to participate in the Plan.

 

Aggregate Plan Pool: The dollar amount of the aggregate Plan pool will be established by the Compensation Committee.

 

Awards: Awards under the Plan for Executive Officers will be determined by the Compensation Committee. Awards under the Plan for other officer, director and manager-level personnel will be determined by the Company’s executive committee, within the limits of the Plan pool approved by the Compensation Committee.

 

Individual Targets: The Plan payout targets for Executive Officers will be determined by the Compensation Committee. The Plan payout targets for other officer, director and manager-level personnel will be set as a percentage of a participant’s base salary in accordance with compensation policies established by the Company’s executive committee or a participant’s employment agreement with the Company.

 

Award Components: Awards under the Plan will be based on two elements: financial performance and individual performance. Company financial performance will be an element in all participants’ awards. Each element will be assigned a weighting based upon a participant’s role in the Company.

 

The financial performance element will be based on earnings before interest, taxes, depreciation and amortization, adjusted for certain non-cash and other adjustments, such as asset impairments, purchase accounting adjustments and fair value adjustments, established by the Compensation Committee (“Adjusted EBITDA”). An Adjusted EBITDA goal will be established for 2019 by the Compensation Committee. The financial performance element is non-discretionary and will be funded at a rate of 0% to 200% of the participant’s targeted payout amount for the element based on the level of actual Adjusted EBITDA compared to the Adjusted EBITDA goal.

 

The individual performance element will be based on individual participant goals based on quantitative criteria and subjective elements established by each participant’s supervisor, in consultation with the Company’s executive committee. The extent to which a participant will be deemed to have achieved his or her individual performance goals will be determined by the Company’s executive committee in consultation with the participant’s supervisor; provided, however, that the extent to which a participant who is an Executive Officer will be deemed to have achieved his or her individual performance goals will be recommended by the Company’s Chief Executive Officer but ultimately determined by the Compensation Committee. The individual performance element is discretionary and will be funded at a rate of 0% to 100% of the participant’s targeted payout amount for the element, but may exceed 100% of the participant’s targeted payout amount through a reduction of amounts set aside for other participants in the Plan pool without, however, affecting the overall amount of the Plan pool.

 

 C: 

 

 

Payout Limitations: The Compensation Committee may establish minimum Company cash and excess liquidity requirements as a condition to any payout under the Plan.

 

In addition to incentive compensation payable under the Plan, the Company’s Compensation Committee retains the authority to grant special discretionary cash and/or equity awards.

 

 C: 

 C: 2


Dates Referenced Herein

This ‘10-Q’ Filing    Date    Other Filings
Filed on:5/3/19None on these Dates
4/5/19
For Period end:3/31/19
 List all Filings 


4 Subsequent Filings that Reference this Filing

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 3/14/24  Alto Ingredients, Inc.            10-K       12/31/23  103:10M                                    EdgarAgents LLC/FA
 3/14/23  Alto Ingredients, Inc.            10-K       12/31/22  111:9.9M                                   EdgarAgents LLC/FA
 3/15/22  Alto Ingredients, Inc.            10-K       12/31/21  106:9.9M                                   EdgarAgents LLC/FA
 3/26/21  Alto Ingredients, Inc.            10-K       12/31/20  107:9.1M                                   EdgarAgents LLC/FA
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Filing Submission 0001615774-19-007047   –   Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)

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