SEC Contract Filing

Filing Date: 2020-03-26

Document Content:
<DOCUMENT>
<TYPE>EX-10.8
<SEQUENCE>3
<FILENAME>ex_173341.htm
<DESCRIPTION>EXHIBIT 10.8
<TEXT>
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<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: right;"><b>Exhibit 10.8</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<div style="text-align: right;"><img alt="" src="bkeplogo.jpg"></div>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">March 29, 2019</p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Andy Woodward&nbsp;&nbsp;</p>

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 <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">216 Inslee Ave</p>
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 <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">San Antonio, TX 78209</p>
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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Email: woodward.andy@gmail.com</p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Dear Andy:</p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">On behalf of the management team at BKEP Management, Inc. (BKEP), it is my pleasure to extend an offer of employment to you. I know you will make a significant contribution to our team. Information regarding your compensation and benefits package is below:</p>

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 <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><b>Job Information</b></p>
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 <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Your job title will be&nbsp;Chief Financial Officer and the role will serve as an Officer in the Company. You will office out of our Tulsa, OK office. You will report directly to Mark Hurley, CEO. &nbsp;</p>

 <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

 <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">You will be employed by BKEP Management, Inc., which is the U.S. provider of services to Blueknight Energy Partners, L.P.</p>

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 <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><b>Compensation</b></p>

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 <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Annual base salary of $350,000&nbsp;per year to be paid on a bi-monthly basis on the 15<sup style="vertical-align:top;line-height:120%;font-size:pt">th</sup> and last day of the month in the amount of $14,583.33&nbsp;for each pay period worked.</p>

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 <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">As a fulltime employee, you will be eligible to participate in the Company&#8217;s annual Cash Bonus Incentive Program and our annual Long-Term Incentive Program (LTIP), both programs currently have a 50% of base target for your level of employment. P