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10-K primary document
NODK · Annual Report (Form 10-K) · Filed March 6, 2026

Ni Holdings Inc — 10-K exhibit

ex10-19.htm
Ni Holdings Inc on Boardroom Alpha

Exhibit 10.19

 

NI HOLDINGS, INC

SHORT-TERM INCENTIVE BONUS PLAN

EFFECTIVE JANUARY 1, 2026

 

 

INCENTIVE PLAN COMPONENTS
Plan Objectives

·     Reward performance

·     Encourage teamwork

·     Focus employees on success factors

Participants

·     Employees with employment date on or before January 1 and employed on December 31 of the plan year

·     Employees on a Performance Improvement Plan are excluded

Performance Period

·     Results from January 1 – December 31

Payout Frequency

·     Annually – on or prior to April 15

Performance Tracking

·     Quarterly reports published on company employee portal

Establishment of Goal Percentages

·     Recommended by CEO and approved by NI Holdings, Inc. Board of Directors

Verification of Goals

·     Reports provided to Compensation Committee

Payout Calculation

·     Total of three goals:

1.     Combined Ratio

2.     Strategic Initiatives

3.     Personal performance

 

·     Target, Threshold, and Stretch goals established annually and approved by compensation committee

·     Eligible Employees

o      Employees are eligible to receive stated amount for each goal achieved multiplied by their earned salary for the calendar year (does not include bonuses or certain other compensation)

 

 

Other

·     Board retains discretion on payment of Plan.

 

 

105 

 

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