Item 5.02Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On July 10, 2020, the Board of Directors of Global Clean Energy Holdings, Inc.
(the "Company") appointed Ralph Goehring as the Company's Vice President-Finance
and Chief Financial Officer. Mr. Goehring joined the Company on May 20, 2020 as
an interim financial officer.
Mr. Goehring's annual base salary is $225,000. In addition, Mr. Goehring is
entitled to a discretionary bonus equal to 25% of his annual base salary, which
discretionary bonus is related to the Company's performance. As part of his
employment agreement, Mr. Goehring was granted an option to purchase 1,000,000
shares of the Company's common stock under the Company's 2020 Equity Incentive
Plan, which options (i) have an exercise price equal to the closing market price
on the date prior to the first day of Mr. Goehring's employment with the
Company, (ii) have a five year term, (iii) vest in twelve equal quarterly
installments commencing with the fiscal quarter ending June 30, 2020.
From 2010 until his employment with the Company, Mr. Goehring was the Chief
Executive Officer and majority owner of SandDollar Financial LLC, a company that
provides accounting and financial reporting services to energy related firms.
From 2009 to 2015, he was an advisor to energy companies with operations near
Bakersfield, California. From 1987 until 2008, Mr. Goehring worked at Berry
Petroleum Company, first as Manager of Tax (1987-1992), and thereafter as Chief
Financial Officer (1992-2008). Prior to joining Berry Petroleum Company, Mr.
Goehring was a Senior Tax Accountant at Arthur Andersen & Co. Mr. Goehring holds
a Bachelor of Business Administration degree from the University of California,
Berkeley, and is a CPA.
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GLOBAL CLEAN ENERGY HOLDINGS, INC. 
