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<title>8-K</title>


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<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center'><b>&nbsp;</b></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center'><b>&nbsp;</b></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";line-height:1.0pt'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";line-height:1.0pt'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";line-height:1.0pt'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center'><b>UNITED STATES</b></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center'><b>SECURITIES AND
EXCHANGE COMMISSION</b></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center'>Washington, D.C.
20549</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center'><b>FORM 8-K</b></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center'>CURRENT REPORT</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center'>PURSUANT TO SECTION
13 OR 15(d) OF</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center'>THE SECURITIES
EXCHANGE ACT OF 1934</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center'>Date of Report (date
of earliest event reported):&nbsp; December 3, 2012</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center'><b><u>U.S. PREMIUM
BEEF, LLC</u></b></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center'>(Exact name of
Registrant as specified in its charter)</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center'>&nbsp;</p>

  <h4 style='margin:0in;margin-bottom:.0001pt;text-align:center;page-break-after:avoid;font-size:11.0pt;font-family:"Times New Roman","serif";font-weight:normal;text-decoration:underline;'><font style="font-size: 12.0pt">Delaware</font></h4>
  <p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman","serif";margin:0in;margin-bottom:.0001pt;text-align:center'>(State
  or other jurisdiction of incorporation)</p>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<table class=MsoNormalTable border=0 cellpadding=0 width=600
 style='width:100%;margin-left:.9pt;border-collapse:collapse'>
 <tr>
  <td colspan=2 valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <h4 style='margin-bottom:0;text-align:left;page-break-after:avoid;font-size:11.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-top:0'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 333-115164</h4>
  </td>
  <td colspan=2 valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin-bottom:0;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center; margin-top:0'>&nbsp;</p>
  </td>
  <td colspan=2 valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin-bottom:0;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center; margin-top:0'>20-1576986</p>
  </td>
 </tr>
 <tr>
  <td colspan=2 valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:0; margin-top:0'>(Commission File Number)</p>
  </td>
  <td colspan=2 valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin-bottom:0;font-size:12.0pt;font-family:"Times New Roman","serif"; margin-top:0'>&nbsp;</p>
  </td>
  <td colspan=2 valign=top style='border:medium none;
  padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin-bottom:0;font-size:12.0pt;font-family:"Times New Roman","serif"; margin-top:0' align="center">(I.R.S. Employer Identification No.)</p>
  </td>
 </tr>
 <tr>
  <td colspan=2 valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin-bottom:0;font-size:12.0pt;font-family:"Times New Roman","serif"; margin-top:0'>&nbsp;</p>
  </td>
  <td colspan=2 valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin-bottom:0;font-size:12.0pt;font-family:"Times New Roman","serif"; margin-top:0'>&nbsp;</p>
  </td>
  <td colspan=2 valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin-bottom:0;font-size:12.0pt;font-family:"Times New Roman","serif"; margin-top:0'>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td colspan=2 valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin-bottom:0;font-size:12.0pt;font-family:"Times New Roman","serif"; margin-top:0'>&nbsp;</p>
  </td>
  <td colspan=2 valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin-bottom:0;font-size:12.0pt;font-family:"Times New Roman","serif"; margin-top:0'>&nbsp;</p>
  </td>
  <td colspan=2 valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin-bottom:0;font-size:12.0pt;font-family:"Times New Roman","serif"; margin-top:0'>&nbsp;</p>
  </td>
 </tr>
 <tr style='page-break-inside:avoid;height:13.0pt'>
  <td colspan=3 valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; height:13.0pt; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <h1 style='margin-top:12.0pt;margin-bottom:3.0pt;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-bottom:0; margin-top:0'>12200 North Ambassador Drive</h1>
  <h5 style='margin-bottom:0;page-break-after:avoid;font-size:11.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-top:0'>Kansas City, Missouri </h5>
  </td>
  <td valign=top style='height:13.0pt; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin-bottom:0;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center; margin-top:0'>&nbsp;</p>
  </td>
  <td colspan=2 valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; height:13.0pt; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin-bottom:0;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center;
  margin-top:0'>&nbsp;</p>
  <p style='margin-bottom:0;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center;
  margin-top:0'>64163</p>
  </td>
 </tr>
 <tr style='page-break-inside:avoid;height:13.0pt'>
  <td colspan=3 valign=top style='height:13.0pt; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:0; margin-top:0'>(Address of principal executive
  offices)</p>
  </td>
  <td valign=top style='height:13.0pt; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='mso-style-name:"NEW_CENTER\,ctr";margin-top:0;margin-bottom:12.0pt;text-align:center;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:0in;margin-bottom:0'>&nbsp;</p>
  </td>
  <td colspan=2 valign=top style='height:13.0pt; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='mso-style-name:"NEW_CENTER\,ctr";margin-top:0;margin-bottom:12.0pt;text-align:center;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:0in;margin-bottom:0'>(Zip Code)</p>
  </td>
 </tr>
 <tr style='page-break-inside:avoid;height:13.0pt'>
  <td valign=top style='height:13.0pt; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin-bottom:0;font-size:12.0pt;font-family:"Times New Roman","serif"; margin-top:0'>&nbsp;</p>
  </td>
  <td colspan=4 valign=top style='height:13.0pt; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin-bottom:0;font-size:12.0pt;font-family:"Times New Roman","serif"; margin-top:0'>&nbsp;</p>
  </td>
  <td style='border:none;padding:0in 0in 0in 0in'>
	<p style='margin-bottom:0;font-size:12.0pt;font-family:"Times New Roman","serif"; margin-top:0'>&nbsp;</td>
 </tr>
 <tr style='page-break-inside:avoid;height:.25in'>
  <td valign=top style='height:.25in; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' colspan="6">
  <p style='margin-bottom:0;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center; margin-top:0'>
	<u>&nbsp;&nbsp;&nbsp;&nbsp; (816) 713-8800&nbsp;&nbsp;&nbsp;&nbsp; </u></p>
  </td>
 </tr>
 <tr style='page-break-inside:avoid;height:8.1pt'>
  <td valign=top style='height:8.1pt; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' colspan="6">
  <p style='mso-style-name:"NEW_CENTER\,ctr";margin-top:0;margin-bottom:12.0pt;text-align:center;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:0in;margin-bottom:0'>Registrant&#146;s
  telephone, number, including area code</p>
  </td>
 </tr>
 <tr style='page-break-inside:avoid;height:13.0pt'>
  <td valign=top style='height:13.0pt; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin-bottom:0;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center; margin-top:0'>&nbsp;</p>
  </td>
  <td colspan=4 valign=top style='height:13.0pt; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='mso-style-name:"NEW_CENTER\,ctr";margin-top:0;margin-bottom:12.0pt;text-align:center;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:0in;margin-bottom:0'>&nbsp;</p>
  </td>
  <td style='border:none;padding:0in 0in 0in 0in'>
	<p style='margin-bottom:0;font-size:12.0pt;font-family:"Times New Roman","serif"; margin-top:0'>&nbsp;</td>
 </tr>
 </table>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 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 (<i>see</i> General
Instruction A.2. below):</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:.5in;margin-bottom:.0001pt;text-indent:.5in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#9633;&nbsp; Written communications pursuant to Rule
425 under the Securities Act (17 CFR 230.425)</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:.5in;text-indent:.5in'>&#9633;&nbsp;
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:.5in;text-indent:.5in'>&#9633;&nbsp;
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
Act (17 CFR 240-14d-2(b))</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:.5in;text-indent:.5in'>&#9633;&nbsp;
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
Act (17 CFR 240.13e-4(c))</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman","serif";line-height:12.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman","serif";line-height:12.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman","serif";line-height:12.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman","serif";line-height:12.0pt'>&nbsp;</p>

<div style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center'>

<hr size=2 width="100%" noshade style='color:navy' align=center>

</div>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";line-height:1.0pt'>&nbsp;</p>

<br
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<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";line-height:1.0pt'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";line-height:1.0pt'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";line-height:1.0pt'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>Items under Sections 1 through 4 and 6 through 8 are not
applicable and are therefore omitted.</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='mso-style-name:"bspmBL\,bl";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:1.0in;text-indent:-1.0in'><b>Item 5.02&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Departure
of Directors or Certain Officers;&nbsp; Election of Directors;&nbsp; Appointment of
Certain Officers;&nbsp; Compensatory Arrangements of Certain Officers.</b></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <i>Executive Officer Resignation.</i></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Steven D. Hunt, the
Chief Executive Officer of&nbsp; U.S. Premium Beef, LLC (&#147;USPB&#148; or the
&#147;Company&#148;) since its formation, recently shared with the Company&#146;s Board of
Directors (the &#147;Board&#148;) his plans to resign from his employment with the
Company effective as of January 28, 2013.&nbsp; As described below, the
Company has appointed Stanley D. Linville (currently the Company&#146;s Chief
Operating Officer) to serve as USPB&#146;s Chief Executive Officer effective as of
January 28, 2013.&nbsp;&nbsp; Mr. Hunt&#146;s employment agreement provides that for his
services during the transition period ending on January 28, 2013, Mr. Hunt will
continue to receive his current salary and coverage under the Company&#146;s health
and benefit plans.&nbsp; Mr. Hunt will also receive annual bonus and other payments
with respect to the Company&#146;s operations during 2012 pursuant to the terms of
his current employment agreement.&nbsp; In addition, Mr. Hunt will receive payments
pursuant to the non-competition agreement entered into in connection with the
December, 2011 transaction between USPB and Leucadia National Corporation.&nbsp;
However, Mr. Hunt will not be entitled to receive the &#147;full term&#148; bonus
described in Mr. Hunt&#146;s current employment agreement or any bonus or incentive
payments related to periods following termination of Mr. Hunt&#146;s employment with
USPB.&nbsp; </p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Company and Mr. Hunt have also
entered into a Consulting Agreement that will become effective upon termination
of Mr. Hunt&#146;s employment with the Company.&nbsp; Under the terms of the Consulting
Agreement, during a period of twelve (12) months following the effective date
of the Consulting Agreement, Mr. Hunt agrees to provide consulting services as
reasonably requested by the Board, the Company&#146;s Chief Executive Officer or the
Company&#146;s Chief Financial Officer.&nbsp; Such consulting services shall be focused
on USPB, USPB&#146;s operations, its investment in and contractual relationship with
National Beef Packing Company, LLC,&nbsp; the delivery of cattle to National Beef
Packing Company, LLC and contractual issues arising from USPB&#146;s sale of&nbsp;
ownership interests in National Beef Packing Company, LLC to Leucadia National
Corporation.&nbsp;&nbsp; As compensation for his consulting services, Mr. Hunt will
receive a consulting fee at the annual rate of $500,000 and will also be
reimbursed for reasonable business expenses incurred in Mr. Hunt&#146;s performance
of consulting services.&nbsp; Both USPB and Mr. Hunt can terminate the Consulting
Agreement upon thirty (30) days prior written notice for any reason.&nbsp; USPB can
terminate the Consulting Agreement upon Mr. Hunt&#146;s death or disability or for
cause.&nbsp; In addition, Mr. Hunt can terminate the Agreement in the event of a
material and willful breach by UPSB of its obligations under the Consulting
Agreement or upon a reduction of the compensation due to Mr. Hunt under the
Consulting Agreement.&nbsp; If the Consulting Agreement is terminated by USPB for cause,&nbsp;
upon Mr. Hunt&#146;s death or disability or by Mr. Hunt, Mr. Hunt will only be
entitled to compensation under the Consulting Agreement for periods prior to
termination of such agreement.&nbsp; In the event that the Consulting Agreement is
terminated by USPB for reasons other than cause, or upon Mr. Hunt&#146;s death or
disability or if Mr. Hunt terminated the Consulting Agreement due to a breach
of such agreement by USPB, Mr. Hunt will be entitled to receive full payment of
the amount due during the full term of the Consulting Agreement.&nbsp; </p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'><b>&nbsp;</b></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman","serif";line-height:12.0pt' align="center">2</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman","serif";line-height:12.0pt'>&nbsp;</p>

<div style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center'>

<hr size=2 width="100%" noshade style='color:navy' align=center>

</div>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";line-height:1.0pt'>&nbsp;</p>

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<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";line-height:1.0pt'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";line-height:1.0pt'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";line-height:1.0pt'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <i>Appointment of New Principal
Executive Officer.</i></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; On December 3,
2012, the Company announced that effective January 28, 2013, Mr. Stanley D.
Linville will become the Chief Executive Officer of the Company.&nbsp; Mr. Linville
is 53 years old and has been an employee of USPB since 1997.&nbsp; He currently
serves as USPB&#146;s Chief Operating Officer.&nbsp; In connection with the appointment
of Mr. Linville, the Company and Mr. Linville entered into an employment
agreement which will become effective on January 28, 2013.&nbsp; Pursuant to that
employment agreement, Mr. Linville will serve as USPB&#146;s Chief Executive Officer
for a term expiring on December 31, 2015, subject to earlier termination as
provided in the agreement.&nbsp; </p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mr. Linville&#146;s
annual base salary will be $300,000.&nbsp; Mr. Linville will be eligible for an
annual incentive compensation payment based on the financial performance of
USPB and the benefits received by USPB&#146;s unitholders;&nbsp; that incentive
compensation will only be paid to Mr. Linville after certain levels of benefits
have been achieved.&nbsp; Under the terms of the Employment Agreement, if the CEO is
employed by USPB on the last day of any employment year (except as otherwise
provided in the agreement) during the term of the Employment Agreement, the CEO
shall be paid annual incentive compensation equal to .75% of the sum of the
total financial benefits to USPB (&#147;USPB Total Benefits&#148;) that exceed
$25,000,000.&nbsp; USPB Total Benefits are: (1) audited fiscal year-end USPB
earnings before tax; and (2) the fiscal year USPB grid premiums, which is the
net sum of all USPB unitholder and associate grid premiums and discounts
calculated through all USPB grids at all plants as outlined in the Employment
Agreement.&nbsp; Mr. Linville is also eligible for a long-term incentive
payment under the Employment Agreement.&nbsp; If the CEO is employed by USPB on
December 31, 2015, he is to be paid long-term incentive compensation equal to
fifty one hundredths of a percent (0.50%) of the amount by which USPB&#146;s Total
Benefits from January 1, 2013 to December 31, 2015 exceed $75,000,000.&nbsp; The
Employment Agreement provides for a cumulative annual cap of $450,000 for
payments to Mr. Linville for annual and long-term incentive amounts.&nbsp; As of the
effective date of the Employment Agreement, Mr. Linville will also be granted
an additional 1,000 Class A and 1,000 Class B Phantom Units under USPB&#146;s
existing Management Phantom Units Plan.&nbsp; </p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt;text-indent:.5in'>The Employment
Agreement also provides for post termination compensation.&nbsp; In addition to
the amounts described below that will be payable upon termination of the
Employment Agreement, Mr. Linville has agreed to a non-competition provision
that, for twelve (12) months following the termination of Mr. Linville&#146;s
employment with USPB,&nbsp; prohibits him from participating in the management or
control of any beef industry business or enterprise that competes with the
business of USPB and its various affiliates.&nbsp; During such period, Mr. Linville
will receive a monthly payment equal to one twelfth of Mr. Linville&#146;s annual
salary at the time of termination.&nbsp; </p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt;text-indent:.5in'>If
Mr.&nbsp;Linville terminates the agreement for any or no reason, USPB need only
pay salary earned to the date of the termination, and the noncompetition
compensation, unless termination is the result of death or permanent
disability. If USPB terminates the agreement for any reason other than cause,
death or disability, or if Mr.&nbsp;Linville terminates the Employment
Agreement for good reason, Mr.&nbsp;Linville shall be entitled to salary and
benefits through employment year 2015; payment of certain fringe benefits
through employment year 2015; the annual incentive bonus for the year in which
the termination occurs and each subsequent year through employment year 2015;
the long-term incentive bonus that would have accrued had Mr.&nbsp;Linville
been employed through employment year 2015; and the payment of the
noncompetition compensation.</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt;text-indent:.5in'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt;text-indent:.5in'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman","serif";line-height:12.0pt' align="center">3</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman","serif";line-height:12.0pt'>&nbsp;</p>

<div style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center'>

<hr size=2 width="100%" noshade style='color:navy' align=center>

</div>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";line-height:1.0pt'>&nbsp;</p>

<br
clear=all style='page-break-before:always'>


<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";line-height:1.0pt'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";line-height:1.0pt'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";line-height:1.0pt'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt;text-indent:.5in'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt;text-indent:.5in'>The foregoing
descriptions of Mr. Hunt&#146;s Consulting Agreement and Mr. Linville&#146;s Employment
Agreement are not intended to be complete and are qualified in their entirety
by reference to those agreements, which are attached hereto as Exhibits 10.1
and 10.2 and which are incorporated by this reference into this Report.</p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-align:justify;text-indent:.5in;font-size:12.0pt;font-family:"Times New Roman","serif";text-indent:0in;page-break-after:avoid'><b>Item 9.01.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial
Statements and Exhibits.</b></p>

<table border="0" width="100%">
	<tr>
		<td valign="top"><font face="Times New Roman">(d)</font></td>
		<td colspan="3" valign="top">

<p style='margin-top:0in;margin-bottom:12.0pt;font-family:"Times New Roman";page-break-after:avoid'>
Exhibits.&nbsp;
The following exhibits are filed pursuant to Item 9.01.</p>

		</td>
	</tr>
	<tr>
		<td valign="top">&nbsp;</td>
		<td valign="top"><font face="Times New Roman">10.1</font></td>
		<td valign="top">&nbsp;</td>
		<td width="1242" valign="top">

<p style='margin-top:0in;margin-bottom:12.0pt;font-family:"Times New Roman";page-break-after:
avoid'>CEO Employment Agreement between U.S. Premium Beef, LLC
(&#147;USPB&#148;) and Stanley D. Linville, executed on November 23, 2012 and effective
as of January 28, 2013.</p>

		</td>
	</tr>
	<tr>
		<td valign="top">&nbsp;</td>
		<td valign="top"><font face="Times New Roman">10.2</font></td>
		<td valign="top">&nbsp;</td>
		<td width="1242" valign="top">

<p style='margin-top:0in;margin-bottom:12.0pt;font-family:"Times New Roman";page-break-after:
avoid'>Consulting Agreement between U.S. Premium Beef, LLC and Steven
D. Hunt executed on November 19, 2012 and effective as of January 28, 2013.</p>

		</td>
	</tr>
	<tr>
		<td valign="top">&nbsp;</td>
		<td valign="top"><font face="Times New Roman">99.1 </font> </td>
		<td valign="top">&nbsp;</td>
		<td width="1242" valign="top">

<p style='margin-top:0in;margin-bottom:12.0pt;font-family:"Times New Roman";page-break-after:
avoid'>Letter to U.S. Premium Beef, LLC unitholders dated December 3,
2012 announcing the appointment of Stanley D. Linville to succeed Steven D.
Hunt as USPB&#146;s Chief Executive Officer effective as of January 28, 2013. </p>

		</td>
	</tr>
</table>

<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman","serif";margin:0in;margin-bottom:.0001pt;text-align:center'><b>SIGNATURE</b></p>

<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman","serif";margin:0in;margin-bottom:.0001pt'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;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, thereunto duly authorized.</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<div align="right">
	<table border="0" width="50%">
		<tr>
			<td>

<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-right:0in; margin-top:0in'><b>
U.S. PREMIUM BEEF, LLC</b></p>

			</td>
		</tr>
		<tr>
			<td>

<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif"; margin-right:0in; margin-top:0in'>&nbsp;</p>

			</td>
		</tr>
		<tr>
			<td>

<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif"; margin-right:0in; margin-top:0in'>By:&nbsp;
<u>/s/ Steven D. Hunt</u>_______</p>

			</td>
		</tr>
		<tr>
			<td>

<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif"; margin-right:0in; margin-top:0in'>Steven
D. Hunt,</p>

			</td>
		</tr>
		<tr>
			<td>

<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif"; margin-right:0in; margin-top:0in'>Chief
Executive Officer</p>

			</td>
		</tr>
	</table>
</div>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>Dated:&nbsp; December 3, 2012</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman","serif";line-height:12.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman","serif";line-height:12.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman","serif";line-height:12.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman","serif";line-height:12.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman","serif";line-height:12.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman","serif";line-height:12.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman","serif";line-height:12.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman","serif";line-height:12.0pt' align="center">4</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman","serif";line-height:12.0pt'>&nbsp;</p>

<div style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center'>

<hr size=2 width="100%" noshade style='color:navy' align=center>

</div>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";line-height:1.0pt'>&nbsp;</p>

<br
clear=all style='page-break-before:always'>


<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center'><b>Index to Exhibits</b></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'><b>&nbsp;</b></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
<table border="0" width="100%">
	<tr>
		<td valign="bottom" style="border-bottom: 1px solid #000000">

<p style='margin-bottom:.0001pt;font-family:"Times New Roman","serif"; margin-left:0in; margin-right:0in; margin-top:0in'><b>
Exhibit</b></p>

<p style='margin-bottom:.0001pt;font-family:"Times New Roman","serif"; margin-left:0in; margin-right:0in; margin-top:0in'><b>
No.&nbsp; </b></p></td>
		<td colspan="3" valign="bottom" style="border-bottom: 1px solid #000000">
		<p align="center"><font face="Times New Roman,serif"><b>Description</b></font></td>
	</tr>
	<tr>
		<td valign="top">&nbsp;</td>
		<td valign="top">&nbsp;</td>
		<td valign="top">&nbsp;</td>
		<td width="1242" valign="top">&nbsp;</td>
	</tr>
	<tr>
		<td valign="top"><font face="Times New Roman,serif">10.1</font></td>
		<td valign="top">&nbsp;</td>
		<td valign="top">&nbsp;</td>
		<td width="1242" valign="top">

<p style='margin-top:0in;margin-bottom:12.0pt;font-family:"Times New Roman","serif";page-break-after:
avoid'>CEO Employment Agreement between U.S. Premium Beef, LLC
(&#147;USPB&#148;) and Stanley D. Linville, executed on November 23, 2012 and effective
as of January 28, 2013.</p>

		</td>
	</tr>
	<tr>
		<td valign="top"><font face="Times New Roman,serif">10.2</font></td>
		<td valign="top">&nbsp;</td>
		<td valign="top">&nbsp;</td>
		<td width="1242" valign="top">

<p style='margin-top:0in;margin-bottom:12.0pt;font-family:"Times New Roman","serif";page-break-after:
avoid'>Consulting Agreement between U.S. Premium Beef, LLC and Steven
D. Hunt executed on November 19, 2012 and effective as of January 28, 2013.</p>

		</td>
	</tr>
	<tr>
		<td valign="top"><font face="Times New Roman,serif">99.1 </font> </td>
		<td valign="top">&nbsp;</td>
		<td valign="top">&nbsp;</td>
		<td width="1242" valign="top">

<p style='margin-top:0in;margin-bottom:12.0pt;font-family:"Times New Roman","serif";page-break-after:
avoid'>Letter to U.S. Premium Beef, LLC unitholders dated December 3,
2012 announcing the appointment of Stanley D. Linville to succeed Steven D.
Hunt as USPB&#146;s Chief Executive Officer effective as of January 28, 2013. </p>

		</td>
	</tr>
</table>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:1.0in;text-indent:-1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman","serif";line-height:12.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman","serif";line-height:12.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman","serif";line-height:12.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman","serif";line-height:12.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman","serif";line-height:12.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman","serif";line-height:12.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman","serif";line-height:12.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman","serif";line-height:12.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman","serif";line-height:12.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman","serif";line-height:12.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman","serif";line-height:12.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman","serif";line-height:12.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman","serif";line-height:12.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman","serif";line-height:12.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman","serif";line-height:12.0pt' align="center">5</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman","serif";line-height:12.0pt'>&nbsp;</p>

<div style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center'>

<hr size=2 width="100%" noshade style='color:navy' align=center>

</div>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";line-height:1.0pt'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

</div>

</body>

</html>
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{"company-data": {"conformed-name": "U. S. Premium Beef, LLC", "cik": "0001289237", "assigned-sic": "0200", "irs-number": "201576986", "fiscal-year-end": "0831"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "333-115164", "film-number": "121236609"}, "business-address": {"street1": "12200 NORTH AMBASSADOR DRIVE, SUITE 501", "city": "KANSAS CITY", "state": "MO", "zip": "64163", "phone": "816-713-8800"}, "mail-address": {"street1": "12200 NORTH AMBASSADOR DRIVE, SUITE 501", "city": "KANSAS CITY", "state": "MO", "zip": "64163"}, "former-company": {"former-conformed-name": "U. S. Premium Beef, Inc.", "date-changed": "20040504"}}
8-K
UNITED STATES
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):  December 3, 2012
U.S. PREMIUM
BEEF, LLC
(Exact name of
Registrant as specified in its charter)
Delaware
(State
  or other jurisdiction of incorporation)
333-115164
20-1576986
(Commission File Number)
(I.R.S. Employer Identification No.)
12200 North Ambassador Drive
Kansas City, Missouri
64163
(Address of principal executive
  offices)
(Zip Code)
(816) 713-8800
Registrant's
  telephone, number, including area code
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 (
see
General
Instruction A.2. below):
□  Written communications pursuant to Rule
425 under the Securities Act (17 CFR 230.425)
□ 
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
□ 
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
Act (17 CFR 240-14d-2(b))
□ 
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
Act (17 CFR 240.13e-4(c))
Items under Sections 1 through 4 and 6 through 8 are not
applicable and are therefore omitted.
Item 5.02        Departure
of Directors or Certain Officers;  Election of Directors;  Appointment of
Certain Officers;  Compensatory Arrangements of Certain Officers.
(b)
Executive Officer Resignation.
Steven D. Hunt, the
Chief Executive Officer of  U.S. Premium Beef, LLC ("USPB" or the
"Company") since its formation, recently shared with the Company's Board of
Directors (the "Board") his plans to resign from his employment with the
Company effective as of January 28, 2013.  As described below, the
Company has appointed Stanley D. Linville (currently the Company's Chief
Operating Officer) to serve as USPB's Chief Executive Officer effective as of
January 28, 2013.   Mr. Hunt's employment agreement provides that for his
services during the transition period ending on January 28, 2013, Mr. Hunt will
continue to receive his current salary and coverage under the Company's health
and benefit plans.  Mr. Hunt will also receive annual bonus and other payments
with respect to the Company's operations during 2012 pursuant to the terms of
his current employment agreement.  In addition, Mr. Hunt will receive payments
pursuant to the non-competition agreement entered into in connection with the
December, 2011 transaction between USPB and Leucadia National Corporation. 
However, Mr. Hunt will not be entitled to receive the "full term" bonus
described in Mr. Hunt's current employment agreement or any bonus or incentive
payments related to periods following termination of Mr. Hunt's employment with
USPB.
The Company and Mr. Hunt have also
entered into a Consulting Agreement that will become effective upon termination
of Mr. Hunt's employment with the Company.  Under the terms of the Consulting
Agreement, during a period of twelve (12) months following the effective date
of the Consulting Agreement, Mr. Hunt agrees to provide consulting services as
reasonably requested by the Board, the Company's Chief Executive Officer or the
Company's Chief Financial Officer.  Such consulting services shall be focused
on USPB, USPB's operations, its investment in and contractual relationship with
National Beef Packing Company, LLC,  the delivery of cattle to National Beef
Packing Company, LLC and contractual issues arising from USPB's sale of 
ownership interests in National Beef Packing Company, LLC to Leucadia National
Corporation.   As compensation for his consulting services, Mr. Hunt will
receive a consulting fee at the annual rate of $500,000 and will also be
reimbursed for reasonable business expenses incurred in Mr. Hunt's performance
of consulting services.  Both USPB and Mr. Hunt can terminate the Consulting
Agreement upon thirty (30) days prior written notice for any reason.  USPB can
terminate the Consulting Agreement upon Mr. Hunt's death or disability or for
cause.  In addition, Mr. Hunt can terminate the Agreement in the event of a
material and willful breach by UPSB of its obligations under the Consulting
Agreement or upon a reduction of the compensation due to Mr. Hunt under the
Consulting Agreement.  If the Consulting Agreement is terminated by USPB for cause, 
upon Mr. Hunt's death or disability or by Mr. Hunt, Mr. Hunt will only be
entitled to compensation under the Consulting Agreement for periods prior to
termination of such agreement.  In the event that the Consulting Agreement is
terminated by USPB for reasons other than cause, or upon Mr. Hunt's death or
disability or if Mr. Hunt terminated the Consulting Agreement due to a breach
of such agreement by USPB, Mr. Hunt will be entitled to receive full payment of
the amount due during the full term of the Consulting Agreement.
2
(c)
Appointment of New Principal
Executive Officer.
On December 3,
2012, the Company announced that effective January 28, 2013, Mr. Stanley D.
Linville will become the Chief Executive Officer of the Company.  Mr. Linville
is 53 years old and has been an employee of USPB since 1997.  He currently
serves as USPB's Chief Operating Officer.  In connection with the appointment
of Mr. Linville, the Company and Mr. Linville entered into an employment
agreement which will become effective on January 28, 2013.  Pursuant to that
employment agreement, Mr. Linville will serve as USPB's Chief Executive Officer
for a term expiring on December 31, 2015, subject to earlier termination as
provided in the agreement.
Mr. Linville's
annual base salary will be $300,000.  Mr. Linville will be eligible for an
annual incentive compensation payment based on the financial performance of
USPB and the benefits received by USPB's unitholders;  that incentive
compensation will only be paid to Mr. Linville after certain levels of benefits
have been achieved.  Under the terms of the Employment Agreement, if the CEO is
employed by USPB on the last day of any employment year (except as otherwise
provided in the agreement) during the term of the Employment Agreement, the CEO
shall be paid annual incentive compensation equal to .75% of the sum of the
total financial benefits to USPB ("USPB Total Benefits") that exceed
$25,000,000.  USPB Total Benefits are: (1) audited fiscal year-end USPB
earnings before tax; and (2) the fiscal year USPB grid premiums, which is the
net sum of all USPB unitholder and associate grid premiums and discounts
calculated through all USPB grids at all plants as outlined in the Employment
Agreement.  Mr. Linville is also eligible for a long-term incentive
payment under the Employment Agreement.  If the CEO is employed by USPB on
December 31, 2015, he is to be paid long-term incentive compensation equal to
fifty one hundredths of a percent (0.50%) of the amount by which USPB's Total
Benefits from January 1, 2013 to December 31, 2015 exceed $75,000,000.  The
Employment Agreement provides for a cumulative annual cap of $450,000 for
payments to Mr. Linville for annual and long-term incentive amounts.  As of the
effective date of the Employment Agreement, Mr. Linville will also be granted
an additional 1,000 Class A and 1,000 Class B Phantom Units under USPB's
existing Management Phantom Units Plan.
The Employment
Agreement also provides for post termination compensation.  In addition to
the amounts described below that will be payable upon termination of the
Employment Agreement, Mr. Linville has agreed to a non-competition provision
that, for twelve (12) months following the termination of Mr. Linville's
employment with USPB,  prohibits him from participating in the management or
control of any beef industry business or enterprise that competes with the
business of USPB and its various affiliates.  During such period, Mr. Linville
will receive a monthly payment equal to one twelfth of Mr. Linville's annual
salary at the time of termination.
If
Mr. Linville terminates the agreement for any or no reason, USPB need only
pay salary earned to the date of the termination, and the noncompetition
compensation, unless termination is the result of death or permanent
disability. If USPB terminates the agreement for any reason other than cause,
death or disability, or if Mr. Linville terminates the Employment
Agreement for good reason, Mr. Linville shall be entitled to salary and
benefits through employment year 2015; payment of certain fringe benefits
through employment year 2015; the annual incentive bonus for the year in which
the termination occurs and each subsequent year through employment year 2015;
the long-term incentive bonus that would have accrued had Mr. Linville
been employed through employment year 2015; and the payment of the
noncompetition compensation.
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The foregoing
descriptions of Mr. Hunt's Consulting Agreement and Mr. Linville's Employment
Agreement are not intended to be complete and are qualified in their entirety
by reference to those agreements, which are attached hereto as Exhibits 10.1
and 10.2 and which are incorporated by this reference into this Report.
Item 9.01.       Financial
Statements and Exhibits.
(d)
Exhibits. 
The following exhibits are filed pursuant to Item 9.01.
10.1
CEO Employment Agreement between U.S. Premium Beef, LLC
("USPB") and Stanley D. Linville, executed on November 23, 2012 and effective
as of January 28, 2013.
10.2
Consulting Agreement between U.S. Premium Beef, LLC and Steven
D. Hunt executed on November 19, 2012 and effective as of January 28, 2013.
99.1
Letter to U.S. Premium Beef, LLC unitholders dated December 3,
2012 announcing the appointment of Stanley D. Linville to succeed Steven D.
Hunt as USPB's Chief Executive Officer effective as of January 28, 2013.
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, thereunto duly authorized.
U.S. PREMIUM BEEF, LLC
By:
/s/ Steven D. Hunt
_______
Steven
D. Hunt,
Chief
Executive Officer
Dated:  December 3, 2012
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Index to Exhibits
Exhibit
No.
Description
10.1
CEO Employment Agreement between U.S. Premium Beef, LLC
("USPB") and Stanley D. Linville, executed on November 23, 2012 and effective
as of January 28, 2013.
10.2
Consulting Agreement between U.S. Premium Beef, LLC and Steven
D. Hunt executed on November 19, 2012 and effective as of January 28, 2013.
99.1
Letter to U.S. Premium Beef, LLC unitholders dated December 3,
2012 announcing the appointment of Stanley D. Linville to succeed Steven D.
Hunt as USPB's Chief Executive Officer effective as of January 28, 2013.
5