Document:

EX-4.1

 Exhibit 4.1 

ROPER TECHNOLOGIES, INC. 

Officer’s Certificate 

June 22, 2020 
 Reference is
made to the Indenture, dated as of November 26, 2018 (the “Indenture”), between Roper Technologies, Inc., a Delaware corporation (the “Issuer”), and Wells Fargo Bank, National Association, as trustee (the
“Trustee”). The Trustee is the trustee for any and all securities issued under the Indenture. Pursuant to Sections 2.01, 2.03 and 2.04 of the Indenture, the undersigned officer does hereby certify, in connection with the Issuer’s
issuance of $600,000,000 aggregate principal amount of its 2.000% Senior Notes due 2030 (the “Notes”), that the terms of the Notes are as follows: 

Capitalized terms used but not otherwise defined herein shall have the meanings specified in the Indenture. 

 

			
	Notes	  	
		
	Title:	  	2.000% Senior Notes due 2030
		
	Issuer:	  	Roper Technologies, Inc.
		
	Trustee, Registrar, Transfer Agent, Authenticating Agent, and Paying Agent:	  	Wells Fargo Bank, National Association
		
	Aggregate Principal Amount at Maturity:	  	$600,000,000
		
	Principal Payment Date:	  	June 30, 2030
		
	Interest:	  	2.000% per annum
		
	Date from which Interest will Accrue:	  	June 22, 2020
		
	Interest Payment Dates:	  	June 30 and December 30, beginning December 30, 2020
		
	Optional Redemption:	  	The Issuer may at its option redeem the Notes, in whole or in part, at any time or from time to time prior to March 30, 2030 (three months prior to maturity date), on at least 15 days’, but not more than 60 days’,
prior notice mailed to the registered address of each holder of the Notes at a redemption price, calculated by the Issuer, equal to the greater of:
		
		  	(i) 100% of the principal amount of the Notes being redeemed; or

			
		  	 (ii) the sum of the present values of the remaining scheduled payments of principal and interest thereon (assuming, for this purpose, that
such Notes matured on March 30, 2030) discounted to the redemption date, on a semiannual basis (assuming a 360-day year consisting of twelve 30-day months) at a
rate equal to the sum of the Treasury Rate (as defined in the Notes) plus 20 basis points, plus, in each case, accrued and unpaid interest thereon to the redemption date.
  

At any time on or after March 30, 2030 (three months prior to the maturity date), the Issuer may redeem the Notes, in whole or in part, at a redemption
price equal to 100% of the principal amount of the Notes, plus accrued and unpaid interest thereon to the date of redemption.

		
	Conversion:	  	None
		
	Sinking Fund:	  	None
		
	Denominations:	  	$2,000 and multiples of $1,000 thereafter
		
	Miscellaneous:	  	The terms of the Notes shall include such other terms as are set forth in the form of Notes attached hereto as Exhibit A and in the Indenture.

 Subject to the representations, warranties and covenants described in the Indenture, as amended or
supplemented from time to time, the Issuer shall be entitled, subject to authorization by the Board of Directors of the Issuer and an Officer’s Certificate, to issue additional notes from time to time under the series of Notes issued hereby.
Any such additional notes of the series shall have identical terms as the Notes issued on the issue date, other than with respect to the date of issuance and the issue price (together, the “Additional Notes”). Any Additional Notes will be
issued in accordance with Section 2.03 of the Indenture. 
 Such officer has read and understands the provisions of the Indenture and
the definitions relating thereto. The statements made in this Officer’s Certificate are based upon the examination of the provisions of the Indenture and upon the relevant books and records of the Issuer. In such officer’s opinion, he has
made such examination or investigation as is necessary to enable such officer to express an informed opinion as to whether or not the covenants and conditions of such Indenture relating to the issuance and authentication of the Notes have been
complied with. In such officer’s opinion, such covenants and conditions have been complied with. 

  
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 IN WITNESS WHEREOF, I have signed this Officer’s Certificate. 

Dated: June 22, 2020 
  

			
	ROPER TECHNOLOGIES, INC.
		
	By:	 	 /s/ John Stipancich

	Name:	 	John Stipancich
	Title:	 	 Executive Vice President, General Counsel

and Corporate Secretary

 Exhibit A 

Form of Notes 

 [Form of Global Note] 

UNLESS THIS NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO
THE ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY NOTE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO
CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF,
CEDE & CO., HAS A BENEFICIAL INTEREST HEREIN. 
 TRANSFERS OF THIS NOTE ARE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO
NOMINEES OF DTC OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE AND TRANSFERS OF PORTIONS OF THIS GLOBAL NOTE ARE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE TRANSFER PROVISIONS OF THE INDENTURE. 

IN CONNECTION WITH ANY TRANSFER, THE HOLDER WILL DELIVER TO THE REGISTRAR AND TRANSFER AGENT SUCH CERTIFICATES AND OTHER INFORMATION AS SUCH
TRANSFER AGENT MAY REASONABLY REQUIRE TO CONFIRM THAT THE TRANSFER COMPLIES WITH THE FOREGOING RESTRICTIONS. 

 ROPER TECHNOLOGIES, INC. 

2.000% Senior Notes due 2030 

CUSIP No. 776743AJ5 
 ISIN No.
US776743AJ55 

$                     

ROPER TECHNOLOGIES, INC., a Delaware corporation (the “Issuer”), for value received promises to pay to CEDE & CO. or
registered assigns the principal sum of              on June 30, 2030. 

Interest Payment Dates: June 30 and December 30 (each, an “Interest Payment Date”), commencing on December 30,
2020. 
 Interest Record Dates: June 15 and December 15 (each, an “Interest Record Date”). 

Reference is made to the further provisions of this Note contained herein, which will for all purposes have the same effect as if set forth at
this place. 

  
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 IN WITNESS WHEREOF, the Issuer has caused this Note to be signed manually or by facsimile by
its duly authorized officers. 
  

			
	ROPER TECHNOLOGIES, INC.
		
	By:	 	  

	Name:	 	John Stipancich
	Title:	 	Executive Vice President, General
		 	Counsel and Corporate Secretary

 This is one of the Notes of the series designated herein and referred to in the
within-mentioned Indenture. 
 Dated: 
  

			
	Wells Fargo Bank, National Association,
	      as Trustee
		
	By:	 	  

		 	Authorized Signatory

 (REVERSE OF NOTE) 

ROPER TECHNOLOGIES, INC. 
 2.000%
Senior Notes due 2030 
  

	 	1.	 Interest. 

Roper Technologies, Inc. (the “Issuer”) promises to pay interest on the principal amount of this Note at the rate per annum
described above (the “Original Interest Rate”). Cash interest on the Notes will accrue from the most recent date to which interest has been paid; or, if no interest has been paid, from June 22, 2020. Interest on this Note will
be paid to but excluding the relevant Interest Payment Date or on such earlier date as the principal amount shall become due in accordance with the provisions hereof. The Issuer will pay interest semi-annually in arrears on each Interest Payment
Date, commencing December 30, 2020. Interest will be computed on the basis of a 360-day year consisting of twelve 30-day months. 

The Issuer shall pay interest on overdue principal from time to time on demand at the rate borne by the Notes and on overdue installments of
interest (without regard to any applicable grace periods) to the extent lawful. 
  

	 	2.	 Paying Agent. 

Initially, Wells Fargo Bank, National Association (the “Trustee”) will act as paying agent. The Issuer may change any paying
agent without notice to the Holders. 
  

	 	3.	 Indenture; Defined Terms. 

This Note is one of the 2.000% Notes due 2030 issued under the indenture, dated as of November 26, 2018 (the “Base
Indenture”), between the Issuer and the Trustee, and established pursuant to an Officer’s Certificate, dated June 22, 2020, issued pursuant to Sections 2.01, 2.03 and 2.04 thereof (together, the “Indenture”). This
Note is a “Security” and the Notes are “Securities” under the Indenture. 
 For purposes of this Note, unless otherwise
defined herein, capitalized terms herein are used as defined in the Indenture. The terms of the Notes include those stated in the Indenture and those made part of the Indenture by reference to the Trust Indenture Act of 1939 (15 U.S.C. Sections
77aaa-77bbbb) (the “TIA”) as in effect on the date on which the Indenture was qualified under the TIA. Notwithstanding anything to the contrary herein, the Notes are subject to all such terms, and Holders of Notes are referred to
the Indenture and the TIA for a statement of them. To the extent the terms of the Indenture and this Note are inconsistent, except for terms as described under the section titled “8. Optional Redemption” (in which case this Note shall
govern), the terms of the Indenture shall govern. 

  
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	 	4.	 Denominations; Transfer; Exchange. 

The Notes are in registered form, without coupons, in denominations of $2,000 and multiples of $1,000 thereafter. A Holder shall register the
transfer or exchange of Notes in accordance with the Indenture. The Issuer may require a Holder, among other things, to furnish appropriate endorsements and transfer documents and to pay certain transfer taxes or similar governmental charges payable
in connection therewith as permitted by the Indenture. The Issuer need not issue, authenticate, register the transfer of or exchange any Notes or portions thereof for a period of fifteen (15) days before the mailing of a notice of redemption,
nor need the Issuer register the transfer of or exchange any Note selected for redemption, in whole or in part. 
  

	 	5.	 Limitations on Liens. 

The Issuer shall not issue, incur, create, assume or guarantee any Indebtedness secured by a Lien upon any Principal Property or upon any of
the Capital Stock or Indebtedness of any of its Significant Subsidiaries (whether such Principal Property, or Capital Stock or Indebtedness is then existing or owed or is thereafter created or acquired) without in any such case effectively
providing, concurrently with the issuance, incurrence, creation, assumption or guaranty of any such secured Indebtedness, or the grant of such Lien, that the Notes (together, if the Issuer shall so determine, with any other Indebtedness of or
guarantee by the Issuer ranking equally with the Notes) shall be secured equally and ratably with (or, at the option of the Issuer, prior to) such secured Indebtedness, except: 

(i)    Liens existing on the Issue Date; 

(ii)    Liens on assets or property of a Person at the time it becomes a Subsidiary, securing Indebtedness
of such Person, provided such Indebtedness was not incurred in connection with such Person or entity becoming a Subsidiary and such Liens do not extend to any assets other than those of the person becoming a Subsidiary; 

(iii)    Liens on property or assets of a Person existing at the time such person is merged into or
consolidated with the Issuer or any of its Subsidiaries, or at the time of a sale, lease or other disposition of all or substantially all of the properties or assets of a person to the Issuer or any of its Subsidiaries, provided that such Lien was
not incurred in anticipation of the merger, consolidation, or sale, lease, other disposition or other such transaction by which such Person was merged into or consolidated with the Issuer or any of its Subsidiaries; 

(iv)    Liens existing on assets created at the time of, or within the 12 months following, the
acquisition, purchase, lease, improvement or development of such assets to secure all or a portion of the purchase price or lease for, or the costs of improvement or development of (in each case including related costs and expenses), such assets;

  
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 (v)     Liens to secure any extension, renewal,
refinancing or refunding (or successive extensions, renewals, refinancings or refundings), in whole or in part, of any Indebtedness secured by Liens referred to in this Section 5, so long as such Lien is limited to all or part of substantially
the same property which secured the Lien extended, renewed or replaced, and the amount of Indebtedness secured is not increased (other than by the amount equal to any costs and expenses (including any premiums, fees or penalties) incurred in
connection with any extension, renewal, refinancing or refunding); 
 (vi)     Liens for taxes not yet
due or that are being contested in good faith by appropriate proceedings, provided that adequate reserves with respect thereto are maintained on the Issuer’s books in conformity with generally accepted accounting principles; 

(vii)     Liens imposed by law, such as carriers’, warehousemen’s, mechanics’,
materialmen’s, repairmen’s or other like Liens arising in the ordinary course of business that are not overdue for a period of more than 30 days or that are being contested in good faith by appropriate proceedings; 

(viii)     Liens to secure the performance of bids, trade contracts, leases, statutory obligations, surety
and appeal bonds, performance bonds and other obligations of a like nature incurred in the ordinary course of business; 

(ix)     Liens in favor of only the Issuer or one or more of its Subsidiaries; 

(x)     Liens in favor of the Trustee securing Indebtedness owed under the Indenture to the Trustee and
granted in accordance with the Indenture; and 
 (xi)     Liens to secure Hedging Obligations. 

Notwithstanding the restrictions in this Section 5, the Issuer will be permitted to incur Indebtedness, secured by Liens otherwise
prohibited by this Section 5, which, together with the value of Attributable Debt outstanding pursuant to Sale and Lease-Back Transactions permitted pursuant to Section 6(iii), do not exceed 15% of Consolidated Net Tangible Assets measured
at the date of incurrence of the Lien. 
 For purposes of this Section 5, the following terms will be applicable: 

“Attributable Debt” with regard to a Sale and Lease-Back Transaction with respect to any Principal Property means, at the
time of determination, the present value of the total net amount of rent required to be paid under such lease during the remaining term thereof (including any period for which such lease has been extended), discounted at the rate of interest set
forth or implicit in the terms of such lease (or, if not practicable to determine such rate, the weighted average interest rate per annum borne by the Securities then outstanding under the Indenture (including the Notes) and any securities then
outstanding under the Indenture, dated as of August 4, 2008, between Roper Industries, Inc. (now known as Roper Technologies, Inc.) and the Trustee) compounded semi-annually. In the case of any lease which is terminable by the lessee upon the
payment of a penalty, such net amount shall be the lesser of (x) the net amount determined assuming termination upon the first date such lease may be terminated (in which case 

  
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the net amount shall also include the amount of the penalty, but shall not include any rent that would be required to be paid under such lease subsequent to the first date upon which it may be so
terminated) or (y) the net amount determined assuming no such termination. 
 “Capital Stock” means: 

(a)     with respect to any person that is a corporation, any and all shares, interests, participations or
other equivalents (however designated and whether or not voting) of corporate stock, including each class of common stock and preferred stock of such person, and all options, warrants or other rights to purchase or acquire any of the foregoing; and

 (b)     with respect to any person that is not a corporation, any and all partnership, membership or
other equity interests of such person, and all options, warrants or other rights to purchase or acquire any of the foregoing. 

“Consolidated Net Tangible Assets” means, as of any date on which the Issuer effects a transaction requiring such
Consolidated Net Tangible Assets to be measured hereunder, the aggregate amount of assets (less applicable reserves) after deducting therefrom: (a) all current liabilities, except for current maturities of long-term debt and obligations under
capital leases; and (b) intangible assets (including goodwill), to the extent included in said aggregate amount of assets, all as set forth on the Issuer’s most recent consolidated balance sheet and computed in accordance with generally
accepted accounting principles in the United States of America applied on a consistent basis. 
 “Hedging Obligations”
means: 
 (a)     interest rate swap agreements (whether from fixed to floating or from floating to
fixed), interest rate cap agreements and interest rate collar agreements; 
 (b)     other agreements or
arrangements designed to manage interest rates or interest rate risk; 
 (c)     other agreements or
arrangements designed to protect against fluctuations in currency exchange rates or commodity prices; and 
 (d)
    other agreements or arrangements designed to protect against fluctuations in equity prices. 
 “Principal
Property” means the land, improvements, buildings, fixtures and equipment (including any leasehold interest therein) constituting the principal corporate office of the Issuer, any manufacturing plant, or any manufacturing, distribution or
research facility (in each case, whether now owned or hereafter acquired) which is owned or leased by the Issuer, unless the Board of Directors of the Issuer has determined in good faith that such office, plant or facility is not of material
importance to the total business conducted by the Issuer and the Subsidiaries of the Issuer taken as a whole. With respect to any Sale and Lease-Back Transaction or series of related Sale and Lease-Back Transactions, the determination of whether any
property is a Principal Property shall be determined by reference to all properties affected by such transaction or series of transactions. 

  
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 6.     Limitation on Sale and Lease-back Transactions. 

The Issuer shall not enter into any Sale and Lease-Back Transaction with respect to any Principal Property, other than any such Sale and
Lease-Back Transaction involving a lease for a term of not more than three years or any such Sale and Lease-Back Transaction between the Issuer and one of its Subsidiaries or between its Subsidiaries, unless: 

(i)     the Issuer or such Subsidiary, as applicable, could have incurred Indebtedness secured by a Lien on
the Principal Property involved in such Sale and Lease-Back Transaction in an amount at least equal to the Attributable Debt with respect to such Sale and Lease-Back Transaction, without equally and ratably securing the Notes, pursuant to
Section 5 hereto; or 
 (ii)     the proceeds of such Sale and Lease-Back Transaction are at least
equal to the fair market value of the affected Principal Property (as determined in good faith by the Board of Directors of the Issuer) and the Issuer applies an amount equal to the net proceeds of such Sale and Lease-Back Transaction within 365
days of such Sale and Lease-Back Transaction to any of (or a combination of): 
 1.     the prepayment or
retirement of the Securities then outstanding under the Indenture (including the Notes); 
 2.     the
prepayment or retirement (other than any mandatory retirement, mandatory prepayment or sinking fund payment or by payment at maturity) of other Indebtedness of the Issuer or of one of its Subsidiaries (other than Indebtedness that is subordinated to
the Securities then outstanding under the Indenture (including the Notes) or Indebtedness owed to the Issuer or one of its Subsidiaries) that matures more than 12 months after its creation; or 

3.     the purchase, construction, development, expansion or improvement of other comparable property. 

(iii)     Notwithstanding the restrictions in subsections (i) and (ii) above, the Issuer will be
permitted to enter into Sale and Lease-Back Transactions otherwise prohibited by Section 6(i) and (ii) hereof, which, together with all of the Indebtedness outstanding pursuant to the second paragraph of Section 5, do not exceed 15%
of Consolidated Net Tangible Assets measured at the closing date of the Sale and Lease-Back Transaction. 

  
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 For purposes of this Section 6, see certain applicable definitions contained in
Section 5 and the following definition for “Sale and Lease-Back Transaction”: 
 “Sale and Lease-Back
Transaction” means any arrangement with any Person providing for the leasing by the Issuer of any Principal Property, whether now owned or hereafter acquired, which Principal Property has been or is to be sold or transferred by the Issuer
to such Person. 
 7. Amendment; Supplement; Waiver. 

Subject to certain exceptions, the Notes and the provisions of the Indenture relating to the Notes may be amended or supplemented and any
existing default or Event of Default or compliance with certain provisions may be waived with the written consent of the Holders of at least a majority in aggregate principal amount of all series of Outstanding Securities (including the Notes) under
the Indenture that are affected by such amendment, supplement or waiver (voting together as a single class). Without notice to or consent of any Holder, the parties thereto may amend or supplement the Indenture and the Notes to, among other things,
cure any ambiguity, defect or inconsistency or comply with any requirements of the Commission in connection with the qualification of the Indenture under the TIA, or make any other change that does not adversely affect the rights of any Holder of a
Note. 
 8. Optional Redemption. 

The Issuer may redeem the Notes, in whole or in part, at its option, at any time or from time to time prior to March 30, 2030 (three
months prior to maturity date), on at least 15 days’, but not more than 60 days’, prior notice mailed to the registered address of each Holder of the Notes (any such date of redemption, a “Redemption Date”). The redemption
price will be equal to the greater of: 
 (i)     100% of the principal amount of the Notes to be
redeemed; 
 or 

(ii)     the sum of the present values of the Remaining Scheduled Payments discounted to the Redemption
Date, on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months), at a rate equal to the sum of the Treasury Rate plus 20 basis points, plus, in
each case, accrued and unpaid interest thereon to the Redemption Date. 
 At any time on or after March 30, 2030 (three months prior to
the maturity date), the Issuer may redeem the Notes, in whole or in part, at a redemption price equal to 100% of the principal amount of the Notes, plus accrued and unpaid interest thereon to the date of redemption. 

Notice of any redemption of Notes in connection with a corporate transaction (including any equity offering, an incurrence of indebtedness or
a transaction involving a change of control of the Issuer) may, at the Issuer’s discretion, be given prior to the completion thereof and any such redemption or notice may, at the Issuer’s discretion, be subject to one or more conditions
precedent, including, but not limited to, completion of the related transaction. If such redemption or purchase is so subject to satisfaction of one or more conditions precedent, such notice shall describe each such condition and such notice may be
rescinded in the event that any or all such 

  
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conditions shall not have been satisfied by the Redemption Date. In addition, the Issuer may provide in such notice that payment of the redemption price and performance of its obligations with
respect to such redemption may be performed by another person. 
 For purposes of this Section 8, the following terms will be
applicable: 
 “Comparable Treasury Issue” means the United States Treasury security or securities selected by an
Independent Investment Banker as having an actual or interpolated maturity comparable to the remaining term of the Notes to be redeemed (assuming, for this purpose, that such Notes matured on March 30, 2030) that would be utilized, at the time
of selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities of a comparable maturity to the remaining term of such Notes. 

“Comparable Treasury Price” means, with respect to any Redemption Date, (1) the average of the Reference Treasury Dealer
Quotations for such Redemption Date after excluding the highest and lowest of such Reference Treasury Dealer Quotations, or (2) if the Issuer obtains fewer than four such Reference Treasury Dealer Quotations, the average of all such quotations.

 “Independent Investment Banker” means one of the Reference Treasury Dealers, appointed by the Issuer. 

“Reference Treasury Dealer” means each of (i) BofA Securities, Inc., J.P. Morgan Securities LLC and Wells Fargo
Securities, LLC, and their respective affiliates, and their respective successors and (ii) one other nationally recognized investment banking firm that is a primary U.S. government securities dealer in the City of New York (a “Primary
Treasury Dealer”) as selected by the Issuer. If any of the foregoing or their affiliates shall cease to be a Primary Treasury Dealer, the Issuer shall substitute therefor another Primary Treasury Dealer. 

“Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury Dealer and any Redemption Date, the
average, as determined by the Issuer, of the bid and ask prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to the Trustee by such Reference Treasury Dealer at 3:30 p.m., New
York City time, on the third business day preceding such Redemption Date. 
 “Remaining Scheduled Payments” means, with
respect to each Note to be redeemed, the remaining scheduled payments of principal of and interest on the Note that would be due after the related Redemption Date but for the redemption (assuming, for this purpose, that such Notes matured on
March 30, 2030). If that Redemption Date is not an Interest Payment Date with respect to a Note, the amount of the next succeeding scheduled interest payment on the Note will be reduced by the amount of interest accrued on the
Note to the Redemption Date. 
 “Treasury Rate” means, with respect to any Redemption Date, the rate per annum equal to the
semiannual equivalent yield to maturity or interpolation (on a day count basis) of the interpolated Comparable Treasury Issue, assuming a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the
Comparable Treasury Price for such Redemption Date. 

  
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 On and after the Redemption Date, interest will cease to accrue on the Notes or any portion
of the Notes called for redemption, unless the Issuer defaults in the payment of the redemption price and accrued interest. On or before the Redemption Date, the Issuer will deposit with a paying agent or the Trustee money sufficient to pay the
redemption price of, and accrued interest on, the Notes to be redeemed on that date. 
 If the Issuer chooses to redeem less than all of the
Notes, selection of the Notes for redemption will be made by the Trustee in compliance with the requirements of the principal national securities exchange, if any, on which the Notes are listed and in accordance with the procedures of the
depositary; or, if such Notes are not so listed, on a pro rata basis, by lot or by such method as the Trustee shall deem fair and appropriate. 

No Notes of a principal amount of $2,000 or less shall be redeemed in part. Notice of redemption will be mailed by first-class mail at least
15 but not more than 60 days before the Redemption Date to each Holder of Notes to be redeemed at its registered address. If any Note is to be redeemed in part only, the notice of redemption that relates to such Note shall state the portion of the
principal amount thereof to be redeemed. A new Note in principal amount equal to the unredeemed portion thereof will be issued in the name of the Holder thereof upon cancellation of the original Note. On and after the Redemption Date, interest will
cease to accrue on Notes or portions thereof called for redemption as long as the Issuer has deposited with the paying agent funds in satisfaction of the applicable redemption price. 

 

	 	9.	 Offer to Repurchase Upon Change of Control. 

Upon the occurrence of a Change of Control Triggering Event with respect to the Notes, unless the Issuer shall have exercised its right
pursuant to Section 8 hereof to redeem the Notes, each Holder of Notes shall have the right to require the Issuer to repurchase all or, at the Holder’s option, any part (in a multiple of $1,000 provided that the remaining principal amount,
if any, following such repurchase shall be at least $2,000 or a multiple of $1,000 in excess thereof), of such Holder’s Notes (a “Change of Control Offer”) at a repurchase price in cash equal to 101% of the aggregate principal
amount of the Notes repurchased plus accrued and unpaid interest, if any, on the Notes to be repurchased, to, but excluding, the repurchase date (the “Change of Control Payment”). 

Within 30 days following any Change of Control Triggering Event, the Issuer shall cause a notice to be mailed to Holders of the Notes, with a
copy to the Trustee, describing the transaction or transactions that constitute the Change of Control Triggering Event and offering to repurchase the Notes on the date specified in the notice, which date shall be no earlier than 30 days and no later
than 60 days from the date such notice is mailed (the “Change of Control Payment Date”), pursuant to the procedures required by the Indenture and described in such notice. The Issuer shall comply with the requirements of applicable
securities laws and regulations in connection with the repurchase of the Notes as a result of a Change of Control Triggering Event. 

  
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 On the Change of Control Payment Date, the Issuer shall, to the extent lawful: 

 

	 	(i)	 accept for payment all Notes or portions of Notes properly tendered pursuant to the Change of Control Offer;

  

	 	(ii)	 deposit with the paying agent an amount equal to the Change of Control Payment in respect of all Notes or
portions of Notes properly tendered; and 

  

	 	(iii)	 deliver or cause to be delivered to the Trustee the Notes properly accepted together with an Officer’s
Certificate stating the aggregate principal amount of Notes or portions of Notes being repurchased by the Issuer. 

 The
paying agent shall promptly mail, to each Holder who properly tendered Notes, the repurchase price for such Notes, and the Trustee shall promptly authenticate and mail (or cause to be transferred by book entry) to each such Holder a new Note equal
in principal amount to any unpurchased portion of the Notes surrendered, if any; provided that each new Note will be in a principal amount of $2,000 or a multiple of $1,000 in excess thereof. 

The Issuer shall not be required to make a Change of Control Offer upon a Change of Control Triggering Event if a third party makes the Change
of Control Offer in the manner, at the times and otherwise in compliance with the requirements set forth in the Indenture applicable to a Change of Control Offer made by the Issuer and purchases all Notes properly tendered and not withdrawn under
such Change of Control Offer. If such third party terminates or defaults its Change of Control Offer, the Issuer shall be required to make a Change of Control Offer treating the date of such termination or default as though it were the date of the
Change of Control Triggering Event. Notwithstanding anything to the contrary herein, a Change of Control Offer may be made in advance of a Change of Control Triggering Event, conditional upon such Change of Control Triggering Event, if a definitive
agreement is in place for the Change of Control at the time of making the Change of Control Offer. 
 The Issuer shall comply with the
requirements of Rule 14e-1 under the Exchange Act and any other securities laws and regulations thereunder to the extent such laws and regulations are applicable in connection with the repurchase of the Notes
as a result of a Change of Control Triggering Event. To the extent that the provision of any such securities laws or regulations conflicts with this Section 9, the Issuer shall comply with those securities laws and regulations and shall not be
deemed to have breached its obligations under this Section 9 by virtue of any such conflict. 
 For purposes of this Section 9,
the following terms will be applicable: 
 “Change of Control” means the occurrence of any one of the following:
(1) the direct or indirect sale, lease, transfer, conveyance or other disposition (other than by way of merger, amalgamation, arrangement or consolidation), in one or a series of related transactions, of all or substantially all of the
Issuer’s properties or assets and those of its subsidiaries, taken as a whole, to one or more persons, other than to the Issuer or one of its subsidiaries; (2) the consummation of any transaction including, without limitation, any merger,
amalgamation, arrangement or consolidation the result of which is that any person becomes the beneficial owner, directly or indirectly, of more than 50% of the Issuer’s Voting Stock; (3) the Issuer consolidates with, or merge with or into,
any person, or any person consolidates with, or merges with or into, the 

  
 9 

 
Issuer, in any such event pursuant to a transaction in which any of the outstanding Voting Stock of the Issuer or of such other person is converted into or exchanged for cash, securities or other
property, other than any such transaction where the shares of the Issuer’s Voting Stock outstanding immediately prior to such transaction constitute, or are converted into or exchanged for, a majority of the Voting Stock of the surviving person
immediately after giving effect to such transaction; or (4) the adoption of a plan relating to the Issuer’s liquidation or dissolution. For the purposes of this definition, “person” and “beneficial owner” have the
meanings used in Section 13(d) of the Exchange Act. 
 “Change of Control Triggering Event” means the Notes cease to
be rated Investment Grade by both Rating Agencies on any date during the period (the “Trigger Period”) commencing 60 days prior to the first public announcement of the Change of Control or the Issuer’s intention to effect a
Change of Control and ending 60 days following consummation of such Change of Control, which Trigger Period will be extended following consummation of a Change of Control for so long as any of the Rating Agencies has publicly announced that it is
considering a possible ratings change. Unless at least one Rating Agency is providing a rating for the Notes at the commencement of any Trigger Period, the Notes will be deemed to have ceased to be rated Investment Grade during that Trigger Period.
Notwithstanding the foregoing, no Change of Control Triggering Event will be deemed to have occurred in connection with any particular Change of Control unless and until such Change of Control has actually been consummated. 

“Investment Grade” means a rating equal to or higher than Baa3 (or the equivalent) by Moody’s or BBB- (or the equivalent) by S&P, and the equivalent investment grade credit rating from any replacement Rating Agency or Rating Agencies selected by the Issuer. 

“Moody’s” means Moody’s Investors Service, Inc., a subsidiary of Moody’s Corporation, and its successors. 

“Rating Agencies” means (a) each of Moody’s and S&P; and (b) if any of the Rating Agencies ceases to
provide rating services to issuers or investors, and no Change of Control Triggering Event has occurred or is occurring, a “nationally recognized statistical rating organization” as defined in Section 3(a)(62) of the Exchange Act that
is selected by the Issuer (as certified by a resolution of the Board of Directors) as a replacement for Moody’s or S&P, or both of them, as the case may be, and that is reasonably acceptable to the Trustee. 

“S&P” means S&P Global Ratings, a division of S&P Global Inc., and its successors. 

“Voting Stock” of any specified person as of any date means the capital stock of such person that is at the time entitled to
vote generally in the election of the Board of Directors of such person. 
  

	 	10.	 Defaults and Remedies. 

If an Event of Default (other than certain bankruptcy Events of Default with respect to the Issuer) under the Indenture occurs with respect to
the Notes and is continuing, then the Trustee may and, at the direction of the Holders of at least 25% in principal amount of all series 

  
 10 

 
of Outstanding Securities (including the Notes) under the Indenture that are affected by such Event of Default (voting together as a single class), shall by written notice, require the Issuer to
repay immediately the entire principal amount of the Outstanding Notes, together with all accrued and unpaid interest and premium, if any. If a bankruptcy Event of Default with respect to the Issuer occurs and is continuing, then the entire
principal amount of the Outstanding Notes will automatically become due immediately and payable without any declaration or other act on the part of the Trustee or any Holder. Holders of Notes may not enforce the Indenture or the Notes except as
provided in the Indenture. The Trustee is not obligated to enforce the Indenture or the Notes unless it has received indemnity as it reasonably requires. The Indenture permits, subject to certain limitations therein provided, Holders of a majority
in aggregate principal amount of the Outstanding Securities (including the Notes) affected (voting together as a single class) to direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of Notes notice of
certain continuing defaults or Events of Default if it determines that withholding notice is in their interest. 
  

	 	11.	 Authentication. 

This Note shall not be valid until the Trustee manually signs the certificate of authentication on this Note. 

 

	 	12.	 Abbreviations and Defined Terms. 

Customary abbreviations may be used in the name of a Holder of a Note or an assignee, such as: TEN COM (= tenants in common), TEN ENT (=
tenants by the entireties), JT TEN (= joint tenants with right of survivorship and not as tenants in common), CUST (= Custodian), and U/G/M/A (= Uniform Gifts to Minors Act). 
  

	 	13.	 CUSIP Numbers. 

Pursuant to a recommendation promulgated by the Committee on Uniform Security Identification Procedures, the Issuer has caused CUSIP numbers to
be printed on the Notes as a convenience to the Holders of the Notes. No representation is made as to the accuracy of such numbers as printed on the Notes and reliance may be placed only on the other identification numbers printed hereon. 

 

	 	14.	 Governing Law. 

The laws of the State of New York shall govern the Indenture and this Note thereof. 

  
 11 

  

ASSIGNMENT FORM 
 To assign this Note, fill in
the form below: 
 I or we assign and transfer this Note to 

(Print or type assignee’s name, address and zip code) 

(Insert assignee’s soc. sec. or tax I.D. No.) 

and irrevocably appoint agent to transfer this Note on the books of the Issuer. The agent may substitute another to act for him. 

 
  
  

			
		
	 Date:
                                         
           
	  	 Your Signature:
                                         
       

  
  

 
 Sign exactly as your name appears on the other side
of this Note. 
  

					
		 		  	  

		 		  	 Signature

	 Signature Guarantee:
	 		  	
			
	  

Signature must be guaranteed
	 		  	  

Signature

 Signatures must be guaranteed by an “eligible guarantor institution” meeting the requirements of the
Registrar, which requirements include membership or participation in the Security Transfer Agent Medallion Program (“STAMP”) or such other “signature guarantee program” as may be determined by the Registrar in addition to,
or in substitution for, STAMP, all in accordance with the United States Securities Exchange Act of 1934, as amended. 
  

 

  
 12 

 SCHEDULE OF EXCHANGES OF NOTES 

a.     The following exchanges of a part of this Global Note for Physical Notes or a part of another Global Note have been
made: 
  

									
	 Date of

Exchange
	 	 Amount of decrease

in principal amount
 of this
Global Note
	 	 Amount of increase in

principal amount of this

Global Note
	  	 Principal amount of

this Global Note
 following
such
 decrease (or increase)
	  	 Signature of

authorized signatory
 of
Trustee

	  
	 	  
	 	  
	  	  
	  	  

  
 13 

 REPURCHASE EXERCISE NOTICE UPON A CHANGE OF CONTROL 

To: Roper Technologies, Inc. 
 The undersigned registered owner
of this Security hereby acknowledges receipt of a notice from Roper Technologies, Inc. (the “Issuer”) as to the occurrence of a Change of Control Triggering Event with respect to the Issuer and hereby directs the Issuer to pay, or
cause the Trustee to pay,                      an amount in cash equal to 101% of the aggregate principal amount of the Notes, or the portion
thereof (which is a multiple of $1,000, provided that the remaining principal amount, if any, following such repurchase shall be at least $2,000 or a multiple of $1,000 in excess thereof) below designated, to be repurchased plus interest accrued to,
but excluding, the repurchase date, except as provided in the Indenture. 
 Dated:
                             

Signature
                                        

 Principal amount to be repurchased (a multiple of $1,000):
                                        

 Remaining principal amount following such repurchase:
                             (zero or at least $2,000 or a multiple of $1,000 in excess thereof) 

 

			
	 By:
	 	  

			
	 Authorized Signatory

  
 14ex_191112.htm

 

Exhibit 10.1

 

 

SEPARATION AGREEMENT AND GENERAL RELEASE OF CLAIMS

 

This SEPARATION AGREEMENT AND GENERAL RELEASE OF CLAIMS (this “Agreement”) is entered into by and between BKEP Management, Inc. (the “Company”) and Mark Hurley (“Employee”).

 

WHEREAS, Employee has been employed by the Company pursuant to that certain Employment Agreement between Employee and the Company entered into the 4th day of October, 2012 (the “Employment Agreement”);

 

WHEREAS, Employee’s employment with the Company ended due to his resignation, effective as of June 22, 2020 (the “Separation Date”);

 

WHEREAS, Employee and the Company wish for Employee to receive a cash payment and certain benefits as set forth in this Agreement, conditioned upon Employee’s entry into, and non-revocation of, this Agreement in the time provided to do so and satisfaction of the terms herein; and

 

WHEREAS, the parties wish to resolve any and all claims that Employee has or may have against the Company or any of the other Company Parties (as defined below), including any claims that Employee may have arising out of Employee’s employment or the end of such employment.

 

NOW, THEREFORE, in consideration of the promises set forth herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged by Employee and the Company, the parties hereby agree as follows:

 

1.     Resignation from Employment and Other Resignations. Employee and the Company acknowledge and agree that Employee’s employment with the Company ended due to Employee’s voluntary resignation as of the Separation Date such that, as of the Separation Date, Employee was no longer employed by the Company or any other Company Party. Further, as of the Separation Date, the automatic resignations set forth in Section 5.E of the Employment Agreement took effect. Without limiting the foregoing, Employee automatically resigned, as of the Separation Date, (a) as an officer of the Company, Blueknight Energy Partners, L.P., and each other Company Party, as applicable, and (b) from the board of directors or any similar governing body of any Company Party and any corporation, limited liability entity or other entity in which the Company or any Company Party holds an equity interest and with respect to which board or similar governing body Employee serves as the Company’s or such Company Party’s designee or other representative (as applicable).

 

2.     Separation Payment. Provided that Employee (x) executes this Agreement and returns it to the Company, care of Duke R. Ligon, Chairman of the Board, so that it is received by Mr. Ligon no later than the close of business on July 14, 2020, and does not revoke his acceptance of this Agreement pursuant to Section 8(d); and (y) honors each of Employee’s commitments set forth herein, then the Company shall provide Employee with a total payment of $353,500, less applicable taxes and withholdings (the “Cash Payment”), which Cash Payment shall be paid in two installments, as follows: (i) one installment of $250,000, less applicable taxes and withholdings, paid within thirty (30) days following the Separation Date; and (ii) one installment of $103,500, less applicable taxes and withholdings, paid within sixty (60) days following the Separation Date.

 

 

 

 

3.     Phantom Units. Immediately prior to the Separation Date, Employee held 75,400 unvested Phantom Units (such unvested Phantom Units are referred to herein as the “Hurley Phantom Units”) granted pursuant to the terms of the Blueknight Energy Partners G.P., L.L.C. Long-Term Incentive Plan (the “Plan”) and that certain Employee Phantom Unit Agreement between Blueknight Energy Partners G.P., L.L.C. (“Blueknight”) and Employee dated March 10, 2020 (the “Phantom Unit Agreement”). So long as Employee satisfies the requirements to receive the Cash Payment as set forth in Section 2, then, effective as of the Separation Date, all of the Hurley Phantom Units shall be deemed to have immediately vested and the Restricted Period (as defined in the Plan) shall have terminated as of the Separation Date. Provided that Employee satisfies the requirements to receive the Cash Payment as set forth in Section 2, on or before the date that is sixty (60) days following the Separation Date, Blueknight shall deliver to Employee 75,400 Common Units (as defined in the Plan) in respect of the Hurley Phantom Units, and, upon such delivery, the Hurley Phantom Units shall terminate and cease to be outstanding.

 

4.     Vacation Pay; Receipt of All Leaves and Compensation.

 

(a)     The Company shall provide Employee with payment for his accrued, but unused vacation and other paid time off that existed as of the time immediately before the Separation Date (the “Vacation Payment”), which Vacation Amount shall reflect a total of no greater than 140.04 hours’ worth of accrued, unused vacation and other paid time off, and which amount shall be verified by the Company in its human resources records and paid to Employee in a lump sum (less applicable taxes and withholdings) no later than the Company’s first regularly scheduled pay date after the expiration of Release Revocation Period (as defined below).

 

(b)     Employee expressly acknowledges and agrees that he is not entitled to the Cash Payment (or any portion thereof) but for his entry into this Agreement and satisfaction of the terms herein. Employee further acknowledges and agrees that, as of the date he signs this Agreement, he has received all leaves (paid and unpaid) that he has been entitled to receive from each Company Party and that he has been paid all wages, bonuses, compensation and other sums that he is owed or has been owed by each Company Party, including all payments arising out of all incentive plans and any other bonus or contractual arrangements. For the avoidance of doubt, Employee expressly acknowledges and agrees that Employee is not eligible to receive any severance pay or benefits other than as set forth herein, and (with the exception, if still unpaid, of the Vacation Payment and any base salary for the pay period in which the Separation Date occurred), the Company has fully and finally satisfied all payment obligations that it has had and that it may ever have to Employee pursuant to the Employment Agreement.

 

2

 

 

5.     Employee’s Complete Release of Claims.

 

(a)     Employee hereby forever releases and discharges the Company, Blueknight, Blueknight Energy Partners, L.P., and each of their respective parents, subsidiaries, predecessors, successors, assigns or affiliated entities, along with each of the foregoing entities’ respective past, present, and future owners, affiliates, subsidiaries, stockholders, partners, officers, directors, members, managers, employees, agents, attorneys, successors, administrators, fiduciaries, insurers and benefit plans and the trustees and fiduciaries of such plans, in their personal and representative capacities (collectively, the “Company Parties”) from, and Employee hereby waives, any and all claims, demands, liabilities and causes of action of any kind that Employee has or could have, whether known or unknown, whether statutory or common law, including any claim for salary, benefits, payments, expenses, costs, damages, penalties, compensation, remuneration, contractual entitlements, and all claims or causes of action relating to his employment relationship with any Company Party, the termination of such employment relationship, his status as an equityholder in any Company Party, or any other acts or omissions related to any matter occurring or existing on or prior to the date that Employee executed this Agreement, including (i) claims arising under or for any alleged violation of: (A) the Age Discrimination in Employment Act of 1967 (including as amended by the Older Workers Benefit Protection Act); (B) Title VII of the Civil Rights Act of 1964; (C) the Civil Rights Act of 1991; (D) Sections 1981 through 1988 of Title 42 of the United States Code; (E) the Employee Retirement Income Security Act of 1974 (“ERISA”); (F) the Immigration Reform Control Act; (G) the Americans with Disabilities Act of 1990; (H) the National Labor Relations Act; (I) the Occupational Safety and Health Act; (J) the Family and Medical Leave Act of 1993; (K) the Oklahoma Anti-Discrimination Act, the Oklahoma Protection of Labor Act, the Oklahoma Minimum Wage Act, the Administrative Workers’ Compensation Act, and the Standards for Workplace Drug and Alcohol Testing Act, the Texas Labor Code (including the Texas Payday Law, the Texas Anti-Retaliation Act, Chapter 21 of the Texas Labor Code, and the Texas Whistleblower Act); (L) any other local, state or federal anti-discrimination or anti-retaliation law; (M) any other local, state or federal law, regulation or ordinance; (ii) claims arising or for any alleged violation of any public policy, contract, tort, or common law claim or claim for defamation, emotional distress, fraud or misrepresentation of any kind, promissory estoppel, breach of implied duty of good faith and fair dealing, breach of implied or express contract, breach of fiduciary duty or wrongful discharge; (iii) any allegation for costs, fees, or other expenses including attorneys’ fees incurred in the matters referenced herein; and (iv) any and all claims Employee may have arising as the result of any alleged breach of any contract, incentive compensation plan or agreement, or other equity-based compensation plan or agreement with any Company Party, including the Employment Agreement, the Plan, and the Phantom Unit Agreement (collectively, the “Released Claims”). This Agreement is not intended to indicate that any such claims exist or that, if they do exist, they are meritorious. Rather, Employee is simply agreeing that, in exchange for the consideration received by his through this Agreement, any and all potential claims of this nature that Employee may have against the Company Parties, regardless of whether they actually exist, are expressly settled, compromised and waived. THIS RELEASE INCLUDES MATTERS ATTRIBUTABLE TO THE SOLE OR PARTIAL NEGLIGENCE (WHETHER GROSS OR SIMPLE) OR OTHER FAULT, INCLUDING STRICT LIABILITY, OF ANY OF THE COMPANY PARTIES.

 

3

 

 

(b)     Notwithstanding this release of liability, nothing in this Agreement prevents Employee from filing any non-legally waivable claim, including a challenge to the validity of this Agreement, with the Equal Employment Opportunity Commission (“EEOC”) or other governmental agency, or participating in (or cooperating with) any investigation or proceeding conducted by the EEOC or other governmental agency; however, Employee understands and agrees that, to the extent permitted by law, he is waiving any and all rights to recover any monetary or personal relief or recovery as a result of such EEOC or governmental agency proceeding or subsequent legal actions. Nothing herein waives Employee’ right to receive an award for information provided to a governmental agency. Further, in no event shall the Released Claims include (i) any claim which arises after the date this Agreement is executed by Employee, (ii) any claim to enforce Employee’s rights under this Agreement; or (iii) any claim to vested benefits under an employee benefit plan that is subject to ERISA.

 

6.     Company Release of Claims. Employee expressly represents and warrants that he has not engaged in any breach of fiduciary duty, breach of any duty of loyalty or disclosure, fraudulent activity, tortious activity, or illegal activity, in each instance: (i) towards or with respect to the Company or any other Company Party; or (ii) with respect to any action or omission undertaken (or that was failed to be undertaken) in the course of Employee’s employment or engagement with the Company or any other Company Party. In express reliance on Employee’s representations and warranties set forth herein, including the representations in this Section 6 (and conditioned upon the accuracy of such representations and warranties), the Company hereby forever releases, discharges and acquits Employee from liability for, and the Company hereby waives, any and all claims, damages, or causes of action of any kind related to Employee’s employment or affiliation with any Company Party, the termination of such employment or affiliation, and any other acts or omissions related to any matter occurring or existing on or prior to the date of the Company’s execution of this Agreement. In no event to the claims released by this Section 6 include any claims that arise after the date that the Company executes this Agreement.

 

7.     Representations Regarding Claims. Employee represents, warrants and agrees that, as of the time that he executes this Agreement, he has not brought or joined any claims, appeals, complaints, charges or lawsuits against any Company Party in any court or before any government agency or arbitrator with respect to a matter, claim or incident that occurred or arose out of one or more occurrences that took place on or prior to the time that Employee signs this Agreement. Employee further represents and warrants that he has made no assignment, sale, delivery, transfer or conveyance of any rights he has asserted or may have against any of the Company Parties with respect to any Released Claim.

 

8.     Additional Acknowledgments and Rights. Employee acknowledges that:

 

(a)     Employee has carefully read this Agreement.

 

(b)     Employee has been advised, and hereby is advised in writing, to seek legal counsel before signing this Agreement, and he has had adequate opportunity to do so.

 

(c)     Employee has been given at least twenty-one (21) days to review and consider this Agreement. If Employee signs this Agreement before the expiration of twenty-one (21) days after his receipt of this Agreement, he has knowingly and voluntarily waived any longer consideration period than the one provided to him. No changes (whether material or immaterial) to this Agreement shall restart the running of this twenty-one (21) day period.

 

4

 

 

(d)     Employee has seven (7) days after signing this Agreement to revoke it (such seven (7)-day period is referred to as the “Release Revocation Period”). This Agreement will not become effective or enforceable until the Release Revocation Period has expired without Employee exercising his revocation right. Any notice of revocation of the Agreement is effective only if such revocation is in writing and received by Duke R. Ligon, Chairman of the Board, on or before the expiration of the Release Revocation Period. If an effective revocation is delivered in the foregoing manner and timeframe, then no consideration shall be provided to Employee pursuant to Section 2 or Section 3 and the release of claims set forth herein shall be of no force or effect, and all remaining provisions of this Agreement shall remain in full force and effect.

 

(e)     Employee agrees and acknowledges that he is receiving, pursuant to this Agreement, consideration in addition to anything of value to which he is already entitled.

 

(f)     Employee fully understands the final and binding effect of this Agreement; the only promises made to Employee to sign this Agreement are those stated within the four corners of this document; and Employee is signing this Agreement knowingly, voluntarily and of his own free will, and understands and agrees to each of the terms of this Agreement.

 

(g)     No Company Party has provided any tax or legal advice regarding this Agreement and Employee has had an adequate opportunity to receive sufficient tax and legal advice from advisors of Employee’s own choosing such that he enters into this Agreement with full understanding of the tax and legal implications thereof.

 

9.     Affirmation of Restrictive Covenants. Employee acknowledges that he has made certain post-employment commitments as set forth in Sections 7 and 8 of the Employment Agreement. Employee recognizes the continuing effectiveness and enforceability of the commitments set forth in Sections 7 and 8 of the Employment Agreement, and reaffirms his promise to abide by such commitments following the Separation Date. Employee acknowledges and understands that his entitlement to the consideration set forth herein is dependent upon Employee’s continuing compliance with the Sections 7 and 8 of the Employment Agreement. Notwithstanding the foregoing, nothing in this Agreement shall prohibit or restrict an individual from lawfully (i) initiating communications directly with, cooperating with, providing information to, causing information to be provided to, or otherwise assisting in an investigation by any governmental or regulatory agency, entity or official(s) (collectively, “Governmental Authorities”) regarding a possible violation of any law; (ii) responding to any inquiry or legal process directed to such individual individually from any such Governmental Authorities; (iii) testifying, participating or otherwise assisting in an action or proceeding by any such Governmental Authorities relating to a possible violation of law; or (iv) making any other disclosures that are protected under the whistleblower provisions of any applicable law. Further notwithstanding the provisions of this Agreement, pursuant to 18 USC Section 1833(b), no individual shall be held criminally or civilly liable under any federal or state trade secret law for the disclosure of a trade secret that is made: (A) in confidence to a federal, state, or local government official, either directly or indirectly, or to an attorney, and solely for the purpose of reporting or investigating a suspected violation of law; or (B) in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal. In addition, if an individual files a lawsuit for retaliation by an employer for reporting a suspected violation of law, such individual may disclose trade secret(s) to such individual’s attorney and use the trade secret information in the court proceeding, if such individual (1) files any document containing the trade secret under seal and (2) does not disclose the trade secret, except pursuant to court order.

 

5

 

 

10.     Post-Separation Assistance. Employee agrees that, for the period beginning on the Separation Date and ending on the date that is sixty (60) days thereafter, he will provide the Company and, as applicable, the other Company Parties, with assistance, when reasonably requested by the Company, with respect to transitioning matters related to Employee’s job responsibilities and otherwise providing information relating to the duties Employee performed for the Company and the other Company Parties.

 

11.      No Waiver. No failure by any party at any time to give notice of any breach by the other parties of, or to require compliance with any condition or provision of this Agreement shall be deemed a waiver of similar or dissimilar provisions or conditions at the same or at any prior or subsequent time.

 

12.     Applicable Law; Dispute Resolution.  

 

(a)     This Agreement is entered into under, and shall be governed for all purposes by, the laws of the State of Oklahoma without reference to the principles of conflicts of law thereof; provided, however, Section 3 hereof shall be subject to the laws of the State of Delaware, without regard to the conflicts of law principles of such state. The provisions of Section 10 of the Employment Agreement are hereby incorporated by reference, mutatis mutandis, as if fully set forth herein. For the avoidance of doubt, EMPLOYEE AND THE COMPANY EXPRESSLY ACKNOWLEDGE AND AGREE THAT ANY DISPUTE, CONTROVERSY OR CLAIM, OF ANY AND EVERY KIND OR TYPE, ARISING OUT OF, CONNECTED WITH, OR RELATING IN ANY WAY TO THIS AGREEMENT, OR THE OBLIGATIONS OF THE PARTIES HEREUNDER, SHALL BE RESOLVED SOLELY AND EXCLUSIVELY IN ACCORDANCE WITH THE PROCEDURES SPECIFIED IN SECTION 10 OF THE EMPLOYMENT AGREEMENT. THE PARTIES HEREBY KNOWINGLY, VOLUNTARILY AND INTENTIONALLY WAIVE THE RIGHT TO A JURY TRIAL ON ALL MATTERS SUBJECT TO ARBITRATION PURSUANT TO THIS SECTION 12.

 

(b)     Notwithstanding Section 12(a), the Company may make a timely application for, and obtain, judicial injunctive relief to enforce Sections 7 or 8 of the Employment Agreement as set forth in Section 8.F of the Employment Agreement. Nothing in this Section 12 shall preclude Employee from filing a charge or complaint with a federal, state or other governmental administrative agency.

 

6

 

 

13.     Interpretation. In this Agreement, (a) the use herein of the word “including” following any general statement, term or matter shall not be construed to limit such statement, term or matter to the specific items or matters set forth immediately following such word or to similar items or matters, whether or not non-limiting language (such as “without limitation”, “but not limited to”, or words of similar import) is used with reference thereto, but rather shall be deemed to refer to all other items or matters that could reasonably fall within the broadest possible scope of such general statement, term or matter; (b) references to Articles and Sections refer to Articles and Sections of this Agreement; (c) the words “this Agreement,” “herein,” “hereof,” “hereby,” “hereunder” and words of similar import refer to this Agreement as a whole, and not to any particular subdivision unless expressly so limited; (d) references in any Article or Section or definition to any clause means such clause of such Article, Section or definition; (e) reference to any agreement (including this Agreement), document or instrument means such agreement, document or instrument as amended, restated or otherwise modified (including any waiver or consent) and in effect from time to time in accordance with the terms thereof; (f) reference to any law means such law as amended, modified, codified, reenacted or replaced and in effect from time to time; and (g) references to “or” shall be interpreted to mean “and/or”. The Section titles and headings in this Agreement are inserted for convenience of reference only and are not intended to be a part of, or to affect the meaning or interpretation of, this Agreement. Neither this Agreement nor any uncertainty or ambiguity herein shall be construed or resolved against any party hereto, whether under any rule of construction or otherwise. On the contrary, this Agreement has been reviewed by each of the parties hereto and shall be construed and interpreted according to the ordinary meaning of the words used so as to fairly accomplish the purposes and intentions of the parties.

 

14.     Severability. To the extent permitted by applicable law, the Company and Employee hereby agree that any term or provision of this Agreement that renders such term or provision or any other term or provision hereof invalid or unenforceable in any respect shall be severable and shall be modified or severed to the extent necessary to avoid rendering such term or provision invalid or unenforceable, and such modification or severance shall be accomplished in the manner that most nearly preserves the benefit of the parties’ bargain hereunder.

 

15.     Withholding of Taxes and Other Employee Deductions. The Company may withhold from all payments made pursuant to this Agreement all federal, state, local, and other taxes and withholdings as may be required pursuant to any law or governmental regulation or ruling.

 

16.     Counterparts. This Agreement may be executed in one or more counterparts (including portable document format (.pdf) and facsimile counterparts), each of which shall be deemed to be an original, but all of which together will constitute one and the same Agreement.

 

17.     Third-Party Beneficiaries; Assignment. Each Company Party that is not a signatory hereto shall be an intended third-party beneficiary of Employee’s covenants, representations, and release of claims set forth in this Agreement and shall be entitled to enforce such covenants, representations, and release as if a party hereto. The Company has the right to assign this Agreement, including to any successor, but Employee does not. This Agreement inures to the benefit of the successors and assigns of the Company, who are intended third party beneficiaries of this Agreement.

 

7

 

 

18.     Return of Property. Employee represents and warrants that Employee has returned to the Company all property belonging to the Company and any other Company Party, including all computer files, client materials, electronically stored information and other materials provided to Employee by the Company or any other Company Party in the course of Employee’s employment and Employee further represents and warrants that Employee has not maintained a copy of any such materials in any form.

 

19.     Entire Agreement; Amendment. This Agreement, along with the Employment Agreement to the extent referenced in Section 9 and the Plan and Phantom Unit Agreement to the extent referenced in Section 3, constitute the entire agreement of the parties hereto with regard to the subject matters hereof and supersede all prior and contemporaneous agreements and understandings, oral or written, between Employee and the Company with regard to the subject matter hereof. This Agreement may not be changed orally but only by an agreement in writing agreed to and signed by Employee and the Company.

 

20.     Further Assurances. Employee shall, and shall cause Employee’s affiliates, representatives, and agents to, from time to time at the request of the Company and without any additional consideration, furnish the Company with such further information or assurances, execute and deliver such additional documents, instruments, and conveyances, and take such other actions and do such other things, as may be reasonably necessary or desirable, as determined in the sole discretion of the Company, to carry out the provisions of this Agreement.

 

21.     Section 409A. This Agreement and the payments provided hereunder are intended to comply with, or be exempt from, the requirements of Section 409A of the Internal Revenue Code of 1986 and the Treasury regulations and interpretive guidance issued thereunder (collectively, “Section 409A”) and shall be construed and administered in accordance with such intent.  Each installment payment hereunder shall be deemed and treated as a separate payment for purposes of Section 409A.  Notwithstanding the foregoing, the Company and Blueknight make no representations that the benefits provided under this Agreement are exempt from the requirements of Section 409A and in no event shall the Company or any other Company Party be liable for all or any portion of any taxes, penalties, interest, or other expenses that may be incurred by Employee on account of non-compliance with Section 409A

 

 

 

[Signature page follows.]

 

 

8

 

 

 

IN WITNESS WHEREOF, the parties hereto have executed this Agreement, in each case, as of the dates set forth beneath their signature blocks below, effective for all purposes as provided above.

 

 

MARK HURLEY

 

/s/ Mark Hurley

Mark Hurley

Date: June 21, 2020

 

 

BKEP MANAGEMENT, INC.

 

 

By: /s/ Duke R. Ligon

Name: Duke R. Ligon

Title: Chairman of the Board

Date: June 22, 2020

 

 

 

 

 

 

 

9

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